XML 53 R32.htm IDEA: XBRL DOCUMENT v3.19.2
SEGMENTED INFORMATION (Tables)
6 Months Ended
Jun. 30, 2019
Disclosure Of Entity's Operating Segments [Abstract]  
Summary of operating segments
 
Attributable to Unitholders
 
Contribution
 from
equity
 accounted
 investments

 
Attributable
 to non-
 controlling
 interests

 
 As per
IFRS
financials(1) 

 
Hydroelectric
 
Wind
 
Solar

 
Storage
and
Other

 
Corporate

 
Total

 
(MILLIONS)
North
America

 
Brazil

 
Colombia

 
North
America

 
Europe

 
Brazil

 
Asia

 
 
Revenues
275

 
58

 
56

 
58

 
22

 
9

 
3

 
51

 
21

 

 
553

 
(98
)
 
332

 
787

Other income
8

 
2

 

 

 
1

 

 

 
1

 

 
2

 
14

 
(2
)
 
5

 
17

Direct operating costs
(72
)
 
(18
)
 
(21
)
 
(18
)
 
(8
)
 
(3
)
 
(1
)
 
(10
)
 
(11
)
 
(5
)
 
(167
)
 
27

 
(112
)
 
(252
)
Share of Adjusted EBITDA from equity accounted investments

 

 

 

 

 

 

 

 

 

 

 
73

 
5

 
78

Adjusted EBITDA
211

 
42

 
35

 
40

 
15

 
6

 
2

 
42

 
10

 
(3
)
 
400

 

 
230

 
 
Management service costs

 

 

 

 

 

 

 

 

 
(23
)
 
(23
)
 

 

 
(23
)
Interest expense - borrowings
(39
)
 
(6
)
 
(8
)
 
(16
)
 
(4
)
 
(2
)
 
(1
)
 
(15
)
 
(3
)
 
(25
)
 
(119
)
 
26

 
(85
)
 
(178
)
Current income taxes
(4
)
 
(3
)
 
(2
)
 
(1
)
 

 

 

 

 

 

 
(10
)
 

 
(5
)
 
(15
)
Distributions attributable to
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Preferred limited partners equity

 

 

 

 

 

 

 

 

 
(11
)
 
(11
)
 

 

 
(11
)
Preferred equity

 

 

 

 

 

 

 

 

 
(7
)
 
(7
)
 

 

 
(7
)
Share of interest and cash taxes from equity accounted investments

 

 

 

 

 

 

 

 

 

 

 
(26
)
 
(5
)
 
(31
)
Share of Funds From Operations attributable to non-controlling interests

 

 

 

 

 

 

 

 

 

 

 

 
(135
)
 
(135
)
Funds From Operations
168

 
33

 
25

 
23

 
11

 
4

 
1

 
27

 
7

 
(69
)
 
230

 

 

 
 
Depreciation
(56
)
 
(22
)
 
(5
)
 
(39
)
 
(13
)
 
(5
)
 
(1
)
 
(15
)
 
(6
)
 
(1
)
 
(163
)
 
36

 
(73
)
 
(200
)
Foreign exchange and unrealized financial instrument loss
1

 
4

 
(1
)
 
(1
)
 
(8
)
 

 

 
4

 

 
(12
)
 
(13
)
 
4

 
(3
)
 
(12
)
Deferred income tax expense
(23
)
 
1

 
(2
)
 
1

 
1

 

 

 

 

 
12

 
(10
)
 
(1
)
 
(3
)
 
(14
)
Other
(11
)
 

 

 
(6
)
 
(2
)
 
5

 
2

 
(12
)
 

 
(3
)
 
(27
)
 
8

 
18

 
(1
)
Share of earnings from equity accounted investments

 

 

 

 

 

 

 

 

 

 

 
(47
)
 

 
(47
)
Net loss attributable to non-controlling interests

 

 

 

 

 

 

 

 

 

 

 

 
61

 
61

Net income (loss) attributable to Unitholders(2)
79

 
16

 
17

 
(22
)
 
(11
)
 
4

 
2

 
4

 
1

 
(73
)
 
17

 

 

 
17

(1) 
Share of earnings from equity-accounted investments of $nil is comprised of amounts found on the share of Adjusted EBITDA, share of interest and cash taxes and share of earnings lines. Net income attributable to participating non-controlling interests - in operating subsidiaries of $74 million is comprised of amounts found on Share of Funds From Operations attributable to non-controlling interests and Net loss attributable to non-controlling interests.
(2) 
Net income (loss) attributable to Unitholders includes net income (loss) attributable to GP interest, Redeemable/Exchangeable partnership units and LP Units. Total net income (loss) includes amounts attributable to Unitholders, non-controlling interests, preferred limited partners equity and preferred equity.
The following table provides each segment's results in the format that management organizes its segments to make operating decisions and assess performance and reconciles Brookfield Renewable's proportionate results to the consolidated statements of income on a line by line basis by aggregating the components comprising the earnings from Brookfield Renewable's investments in associates and reflecting the portion of each line item attributable to non-controlling interests for the three months ended June 30, 2018:
 
Attributable to Unitholders
 
Contribution
 from
equity
 accounted
 investments

 
Attributable
 to non-
 controlling
 interests

 
 As per
IFRS
financials(1) 

 
Hydroelectric
 
Wind
 
Solar

 
Storage
and
Other

 
Corporate

 
Total

 
(MILLIONS)
North
America

 
Brazil

 
Colombia

 
North
America

 
Europe

 
Brazil

 
Asia

 
 
Revenues
228

 
63

 
53

 
54

 
12

 
10

 
3

 
30

 
20

 

 
473

 
(58
)
 
320

 
735

Other income
5

 
1

 

 

 
1

 

 

 
1

 

 

 
8

 
(2
)
 
4

 
10

Direct operating costs
(68
)
 
(20
)
 
(22
)
 
(16
)
 
(6
)
 
(2
)
 
(1
)
 
(6
)
 
(10
)
 
(6
)
 
(157
)
 
19

 
(109
)
 
(247
)
Share of Adjusted EBITDA from equity accounted investments

 

 

 

 

 

 

 

 

 

 

 
41

 
4

 
45

Adjusted EBITDA
165

 
44

 
31

 
38

 
7

 
8

 
2

 
25

 
10

 
(6
)
 
324

 

 
219

 
 
Management service costs

 

 

 

 

 

 

 

 

 
(21
)
 
(21
)
 

 

 
(21
)
Interest expense - borrowings
(40
)
 
(5
)
 
(10
)
 
(14
)
 
(3
)
 
(2
)
 
(1
)
 
(9
)
 
(3
)
 
(23
)
 
(110
)
 
16

 
(84
)
 
(178
)
Current income taxes
(2
)
 
(2
)
 

 

 
(1
)
 

 

 

 

 

 
(5
)
 
1

 
(3
)
 
(7
)
Distributions attributable to
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Preferred limited partners equity

 

 

 

 

 

 

 

 

 
(10
)
 
(10
)
 

 

 
(10
)
Preferred equity

 

 

 

 

 

 

 

 

 
(6
)
 
(6
)
 

 

 
(6
)
Share of interest and cash taxes from equity accounted investments

 

 

 

 

 

 

 

 

 

 

 
(17
)
 
(4
)
 
(21
)
Share of Funds From Operations attributable to non-controlling interests

 

 

 

 

 

 

 

 

 

 

 

 
(128
)
 
(128
)
Funds From Operations
123

 
37

 
21

 
24

 
3

 
6

 
1

 
16

 
7

 
(66
)
 
172

 

 

 
 
Depreciation
(56
)
 
(33
)
 
(5
)
 
(29
)
 
(9
)
 
(3
)
 
(1
)
 
(7
)
 
(6
)
 

 
(149
)
 
17

 
(74
)
 
(206
)
Foreign exchange and unrealized financial instrument loss
(1
)
 
(1
)
 
4

 
3

 
6

 
(8
)
 
(3
)
 
(4
)
 

 
5

 
1

 
(6
)
 
(28
)
 
(33
)
Deferred income tax expense
(2
)
 
1

 
(2
)
 
1

 
1

 

 

 
1

 

 
4

 
4

 
(3
)
 
(5
)
 
(4
)
Other
(8
)
 
(2
)
 

 
(5
)
 
(3
)
 

 

 
(4
)
 

 
(8
)
 
(30
)
 
10

 
10

 
(10
)
Share of earnings from equity accounted investments

 

 

 

 

 

 

 

 

 

 

 
(18
)
 

 
(18
)
Net loss attributable to non-controlling interests

 

 

 

 

 

 

 

 

 

 

 

 
97

 
97

Net income (loss) attributable to Unitholders(2)
56

 
2

 
18

 
(6
)
 
(2
)
 
(5
)
 
(3
)
 
2

 
1

 
(65
)
 
(2
)
 

 

 
(2
)
(1) 
Share of earnings from equity-accounted investments of $6 million is comprised of amounts found on the share of Adjusted EBITDA, share of interest and cash taxes and share of earnings lines. Net income attributable to participating non-controlling interests - in operating subsidiaries of $31 million is comprised of amounts found on Share of Funds From Operations attributable to non-controlling interests and Net loss attributable to non-controlling interests.
(2) 
Net income (loss) attributable to Unitholders includes net income (loss) attributable to GP interest, Redeemable/Exchangeable partnership units and LP Units. Total net income (loss) includes amounts attributable to Unitholders, non-controlling interests, preferred limited partners equity and preferred equity.
The following table provides each segment's results in the format that management organizes its segments to make operating decisions and assess performance and reconciles Brookfield Renewable's proportionate results to the consolidated statements of income on a line by line basis by aggregating the components comprising the earnings from Brookfield Renewable's investments in associates and reflecting the portion of each line item attributable to non-controlling interests for the six months ended June 30, 2019:
 
Attributable to Unitholders
 
Contribution
 from
equity
 accounted
 investments

 
Attributable
 to non-
 controlling
 interests

 
As per
IFRS
financials(1)

 
Hydroelectric
 
Wind
 
Solar

 
Storage
and
Other

 
Corporate

 
Total

 
(MILLIONS)
North
America

 
Brazil

 
Colombia

 
North
America

 
Europe

 
Brazil

 
Asia

 
 
Revenues
539

 
123

 
118

 
121

 
50

 
16

 
5

 
89

 
45

 

 
1,106

 
(189
)
 
695

 
1,612

Other income
9

 
3

 

 
2

 
1

 

 

 
2

 

 
4

 
21

 
(6
)
 
10

 
25

Direct operating costs
(142
)
 
(35
)
 
(45
)
 
(35
)
 
(16
)
 
(5
)
 
(2
)
 
(17
)
 
(24
)
 
(11
)
 
(332
)
 
56

 
(230
)
 
(506
)
Share of Adjusted EBITDA from equity accounted investments

 

 

 

 

 

 

 

 

 

 

 
139

 
12

 
151

Adjusted EBITDA
406

 
91

 
73

 
88

 
35

 
11

 
3

 
74

 
21

 
(7
)
 
795

 

 
487

 
 
Management service costs

 

 

 

 

 

 

 

 

 
(44
)
 
(44
)
 

 

 
(44
)
Interest expense - borrowings
(80
)
 
(12
)
 
(16
)
 
(35
)
 
(7
)
 
(4
)
 
(1
)
 
(29
)
 
(7
)
 
(49
)
 
(240
)
 
50

 
(161
)
 
(351
)
Current income taxes
(6
)
 
(6
)
 
(6
)
 
(1
)
 

 
(1
)
 

 

 

 

 
(20
)
 
1

 
(20
)
 
(39
)
Distributions attributable to
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Preferred limited partners equity

 

 

 

 

 

 

 

 

 
(21
)
 
(21
)
 

 

 
(21
)
Preferred equity

 

 

 

 

 

 

 

 

 
(13
)
 
(13
)
 

 

 
(13
)
Share of interest and cash taxes from equity accounted investments

 

 

 

 

 

 

 

 

 

 

 
(51
)
 
(9
)
 
(60
)
Share of Funds From Operations attributable to non-controlling interests

 

 

 

 

 

 

 

 

 

 

 

 
(297
)
 
(297
)
Funds From Operations
320

 
73

 
51

 
52

 
28

 
6

 
2

 
45

 
14

 
(134
)
 
457

 

 

 
 
Depreciation
(111
)
 
(44
)
 
(10
)
 
(79
)
 
(23
)
 
(9
)
 
(2
)
 
(28
)
 
(12
)
 
(2
)
 
(320
)
 
69

 
(149
)
 
(400
)
Foreign exchange and unrealized financial instrument loss
3

 
3

 
(1
)
 
(1
)
 
(9
)
 
(1
)
 

 
4

 
(1
)
 
(28
)
 
(31
)
 
5

 
(4
)
 
(30
)
Deferred income tax expense
(40
)
 
2

 
(4
)
 
17

 
6

 

 
(1
)
 
16

 

 
18

 
14

 
(36
)
 
(12
)
 
(34
)
Other
(26
)
 
(1
)
 
1

 
(7
)
 
(2
)
 
5

 
2

 
(24
)
 

 
(8
)
 
(60
)
 
21

 
36

 
(3
)
Share of earnings from equity accounted investments

 

 

 

 

 

 

 

 

 

 

 
(59
)
 

 
(59
)
Net loss attributable to non-controlling interests

 

 

 

 

 

 

 

 

 

 

 

 
129

 
129

Net income (loss) attributable to Unitholders(2)
146

 
33

 
37

 
(18
)
 

 
1

 
1

 
13

 
1

 
(154
)
 
60

 

 

 
60

(1) 
Share of earnings from equity-accounted investments of $32 million is comprised of amounts found on the share of Adjusted EBITDA, share of interest and cash taxes and share of earnings lines. Net income attributable to participating non-controlling interests - in operating subsidiaries of $168 million is comprised of amounts found on Share of Funds From Operations attributable to non-controlling interests and Net Income attributable to non-controlling interests.
(2) 
Net income (loss) attributable to Unitholders includes net income (loss) attributable to GP interest, Redeemable/Exchangeable partnership units and LP Units. Total net income (loss) includes amounts attributable to Unitholders, non-controlling interests, preferred limited partners equity and preferred equity.
The following table provides each segment's results in the format that management organizes its segments to make operating decisions and assess performance and reconciles Brookfield Renewable's proportionate results to the consolidated statements of income on a line by line basis by aggregating the components comprising the earnings from Brookfield Renewable's investments in associates and reflecting the portion of each line item attributable to non-controlling interests for the six months ended June 30, 2018:
 
Attributable to Unitholders
 
Contribution
from
equity
accounted
investments

 
Attributable
to non-
controlling
interests

 
As per
IFRS
financials
(1)

 
Hydroelectric
 
Wind
 
Solar

 
Storage
and
Other

 
Corporate

 
Total

 
(MILLIONS)
North
America

 
Brazil

 
Colombia

 
North
America

 
Europe

 
Brazil

 
Asia

 
 
Revenues
489

 
132

 
106

 
108

 
29

 
18

 
5

 
48

 
37

 

 
972

 
(97
)
 
653

 
1,528

Other income
5

 
2

 
1

 
1

 
1

 

 

 
3

 

 
1

 
14

 
(4
)
 
9

 
19

Direct operating costs
(138
)
 
(39
)
 
(45
)
 
(30
)
 
(12
)
 
(5
)
 
(2
)
 
(10
)
 
(18
)
 
(12
)
 
(311
)
 
32

 
(224
)
 
(503
)
Share of Adjusted EBITDA from equity accounted investments

 

 

 

 

 

 

 

 

 

 

 
69

 
12

 
81

Adjusted EBITDA
356

 
95

 
62

 
79

 
18

 
13

 
3

 
41

 
19

 
(11
)
 
675

 

 
450

 


Management service costs

 

 

 

 

 

 

 

 

 
(42
)
 
(42
)
 

 

 
(42
)
Interest expense - borrowings
(84
)
 
(12
)
 
(20
)
 
(28
)
 
(6
)
 
(4
)
 
(2
)
 
(15
)
 
(7
)
 
(48
)
 
(226
)
 
25

 
(157
)
 
(358
)
Current income taxes
(3
)
 
(5
)
 

 
(1
)
 
(1
)
 

 

 

 

 

 
(10
)
 
1

 
(5
)
 
(14
)
Distributions attributable to
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Preferred limited partners equity

 

 

 

 

 

 

 

 

 
(19
)
 
(19
)
 

 

 
(19
)
Preferred equity

 

 

 

 

 

 

 

 

 
(13
)
 
(13
)
 

 

 
(13
)
Share of interest and cash taxes from equity accounted investments

 

 

 

 

 

 

 

 

 

 

 
(26
)
 
(10
)
 
(36
)
Share of Funds From Operations attributable to non-controlling interests

 

 

 

 

 

 

 

 

 

 

 

 
(278
)
 
(278
)
Funds From Operations
269

 
78

 
42

 
50

 
11

 
9

 
1

 
26

 
12

 
(133
)
 
365

 

 

 
 
Depreciation
(113
)
 
(71
)
 
(10
)
 
(55
)
 
(17
)
 
(7
)
 
(2
)
 
(13
)
 
(12
)
 

 
(300
)
 
29

 
(148
)
 
(419
)
Foreign exchange and unrealized financial instrument loss
1

 
(1
)
 
1

 
3

 
5

 
(8
)
 
(1
)
 
(3
)
 
(2
)
 
13

 
8

 
(6
)
 
(27
)
 
(25
)
Deferred income tax expense
(6
)
 
1

 
(3
)
 
(5
)
 
1

 

 

 

 

 
9

 
(3
)
 
(1
)
 
(9
)
 
(13
)
Other
(18
)
 
(4
)
 

 
(5
)
 
(3
)
 

 
(2
)
 
(10
)
 
(9
)
 
(13
)
 
(64
)
 
17

 
(7
)
 
(54
)
Share of earnings from equity accounted investments

 

 

 

 

 

 

 

 

 

 

 
(39
)
 

 
(39
)
Net loss attributable to non-controlling interests

 

 

 

 

 

 

 

 

 

 

 

 
191

 
191

Net income (loss) attributable to Unitholders(2)
133

 
3

 
30

 
(12
)
 
(3
)
 
(6
)
 
(4
)
 

 
(11
)
 
(124
)
 
6

 

 

 
6

(1) 
Share of loss from equity-accounted investments of $6 million is comprised of amounts found on the share of Adjusted EBITDA, share of interest and cash taxes and share of earnings lines. Net income attributable to participating non-controlling interests - in operating subsidiaries of $87 million is comprised of amounts found on Share of Funds From Operations attributable to non-controlling interests and Net Income attributable to non-controlling interests.
(2) 
Net income (loss) attributable to Unitholders includes net income (loss) attributable to GP interest, Redeemable/Exchangeable partnership units and LP Units. Total net income (loss) includes amounts attributable to Unitholders, non-controlling interests, preferred limited partners equity and preferred equity.
The following table presents information on a segmented basis about certain items in Brookfield Renewable's statements of financial position:
 
Attributable to Unitholders
 
Contribution
from
equity
accounted
investments

 
Attributable
to non-
controlling
interests

 
As per
IFRS
financials

 
Hydroelectric
 
Wind
 
Solar

 
Storage
and
Other

 
Corporate

 
Total

 
(MILLIONS)
North
America

 
Brazil

 
Colombia

 
North
America

 
Europe

 
Brazil

 
Asia

 
 
As at June 30, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
16

 
$
13

 
$
48

 
$
23

 
$
34

 
$
3

 
$
3

 
$
31

 
$
13

 
$

 
$
184

 
$
(72
)
 
$
210

 
$
322

Property, plant and equipment
11,150

 
1,900

 
1,634

 
2,495

 
803

 
345

 
72

 
1,349

 
682

 

 
20,430

 
(3,534
)
 
12,421

 
29,317

Total assets
11,874

 
2,075

 
1,926

 
2,613

 
919

 
365

 
95

 
1,581

 
742

 
138

 
22,328

 
(2,474
)
 
14,552

 
34,406

Total borrowings
3,014

 
197

 
482

 
1,218

 
410

 
75

 
67

 
1,013

 
237

 
2,002

 
8,715

 
(1,933
)
 
4,054

 
10,836

Other liabilities
2,753

 
160

 
446

 
521

 
132

 
9

 
7

 
310

 
35

 

 
4,373

 
(542
)
 
2,489

 
6,320

For the six months ended June 30, 2019:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Additions to property, plant and equipment
56

 
18

 
10

 
20

 
14

 
3

 

 

 
13

 
1

 
135

 
(12
)
 
91

 
214

As at December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
6

 
$
37

 
$
7

 
$
30

 
$
29

 
$
5

 
$
2

 
$
41

 
$
9

 
$
3

 
$
169

 
$
(81
)
 
$
85

 
$
173

Property, plant and equipment
11,498

 
1,907

 
1,609

 
2,480

 
819

 
348

 
36

 
1,354

 
686

 
(9
)
 
20,728

 
(3,529
)
 
11,826

 
29,025

Total assets
12,125

 
2,105

 
1,868

 
2,554

 
939

 
379

 
56

 
1,650

 
746

 
161

 
22,583

 
(2,483
)
 
14,003

 
34,103

Total borrowings
2,995

 
198

 
419

 
1,210

 
463

 
75

 
31

 
1,021

 
249

 
2,328

 
8,989

 
(1,972
)
 
3,701

 
10,718

Other liabilities
2,764

 
150

 
434

 
536

 
124

 
7

 
3

 
255

 
31

 
211

 
4,515

 
(511
)
 
2,175

 
6,179

For the six months ended June 30, 2019:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Additions to property, plant and equipment
12

 
9

 
2

 
1

 
3

 

 

 
4

 
1

 
3

 
35

 
(5
)
 
27

 
57

Disclosure of geographical areas
The following table presents consolidated revenue split by geographical region for the three and six months ended June 30:
 
Three months ended June 30
 
Six months ended June 30
(MILLIONS)
2019

 
2018

 
2019

 
2018

United States
$
266

 
$
245

 
$
542

 
$
495

Colombia
231

 
219

 
488

 
442

Canada
125

 
97

 
235

 
226

Brazil
99

 
106

 
199

 
209

Europe
27

 
24

 
69

 
68

Other
39

 
44

 
79

 
88

 
$
787

 
$
735

 
$
1,612

 
$
1,528

The following table presents consolidated property, plant and equipment and equity-accounted investments split by geographical region:
(MILLIONS)
Jun 30, 2019

 
Dec 31, 2018

United States
$
12,711

 
$
12,705

Colombia
6,753

 
6,665

Canada
5,852

 
5,705

Brazil
3,533

 
3,553

Europe
1,577

 
1,624

Other
467

 
342

 
$
30,893

 
$
30,594