REVENUES

6 Months Ended

Jun. 30, 2025

Disclosure of disaggregation of revenue from contracts with customers [abstract]

We perform a disaggregated analysis of revenues considering the nature, amount, timing and uncertainty of revenues. This includes disclosure of our revenues by segment and type, as well as a breakdown of whether revenues from goods or services are recognized at a point in time or delivered over a period of time.

a) Revenue by Type


FOR THE THREE MONTHS ENDED JUN. 30, 2025 (MILLIONS)	Asset Management		Corporate Activities		Renewable Power and Transition		Infrastructure		Private Equity		Real Estate		Total Revenues
Revenue from contracts with customers	$	1,107	$	—	$	1,764	$	4,944	$	6,240	$	545	$	14,600
Other revenue	1,322		93		89		793		724		462		3,483
	$	2,429	$	93	$	1,853	$	5,737	$	6,964	$	1,007	$	18,083


FOR THE SIX MONTHS ENDED JUN. 30, 2025 (MILLIONS)	Asset Management		Corporate Activities		Renewable Power and Transition		Infrastructure		Private Equity		Real Estate		Total Revenues
Revenue from contracts with customers	$	2,232	$	—	$	3,487	$	9,804	$	12,444	$	1,176	$	29,143
Other revenue	2,181		141		212		1,558		1,497		1,295		6,884
	$	4,413	$	141	$	3,699	$	11,362	$	13,941	$	2,471	$	36,027


FOR THE THREE MONTHS ENDED JUN. 30, 2024 (MILLIONS)	Asset Management		Corporate Activities		Renewable Power and Transition		Infrastructure		Private Equity		Real Estate		Total Revenues
Revenue from contracts with customers	$	1,416	$	—	$	1,443	$	4,568	$	11,301	$	702	$	19,430
Other revenue	1,217		101		106		678		827		691		3,620
	$	2,633	$	101	$	1,549	$	5,246	$	12,128	$	1,393	$	23,050


FOR THE SIX MONTHS ENDED JUN. 30, 2024 (MILLIONS)	Asset Management		Corporate Activities		Renewable Power and Transition		Infrastructure		Private Equity		Real Estate		Total Revenues
Revenue from contracts with customers	$	2,679	$	—	$	2,937	$	9,186	$	22,664	$	1,369	$	38,835
Other revenue	2,491		162		147		1,339		1,631		1,352		7,122
	$	5,170	$	162	$	3,084	$	10,525	$	24,295	$	2,721	$	45,957

b) Timing of Recognition of Revenue from Contracts with Customers


FOR THE THREE MONTHS ENDED JUN. 30, 2025 (MILLIONS)	Asset Management		Renewable Power and Transition		Infrastructure		Private Equity		Real Estate		Total Revenues
Goods and services provided at a point in time	$	301	$	73	$	—	$	4,279	$	293	$	4,946
Services transferred over a period of time	806		1,691		4,944		1,961		252		9,654
	$	1,107	$	1,764	$	4,944	$	6,240	$	545	$	14,600


FOR THE SIX MONTHS ENDED JUN. 30, 2025 (MILLIONS)	Asset Management		Renewable Power and Transition		Infrastructure		Private Equity		Real Estate		Total Revenues
Goods and services provided at a point in time	$	569	$	119	$	—	$	8,594	$	670	$	9,952
Services transferred over a period of time	1,663		3,368		9,804		3,850		506		19,191
	$	2,232	$	3,487	$	9,804	$	12,444	$	1,176	$	29,143


FOR THE THREE MONTHS ENDED JUN. 30, 2024 (MILLIONS)	Asset Management		Renewable Power and Transition		Infrastructure		Private Equity		Real Estate		Total Revenues
Goods and services provided at a point in time	$	411	$	95	$	—	$	9,457	$	454	$	10,417
Services transferred over a period of time	1,005		1,348		4,568		1,844		248		9,013
	$	1,416	$	1,443	$	4,568	$	11,301	$	702	$	19,430