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PROPERTY, PLANT AND EQUIPMENT (Tables)
 12 Months Ended
Dec. 31, 2019
Property, plant and equipment [abstract]  
Disclosure of detailed information about property, plant and equipment
The following table presents the useful lives of each hospitality asset by class:

Hospitality assets by class
Useful life
(in years)
Building and building improvements
5 to 50+
Land improvements
14 to 15
Furniture, fixtures and equipment
2 to 15
The following table presents the change to the components of the partnership’s hospitality assets from the beginning of the year:
 
(US$ Millions)
Dec. 31, 2019

Dec. 31, 2018

Cost:
 

 

Balance, beginning of year
$
7,461

$
5,451

Acquisitions through business combinations
—

1,748

Accounting policy change(1)
122

—

Additions
387

490

Disposals
(52
)
(21
)
Foreign currency translation
98

(207
)
Impact of deconsolidation due to loss of control and other(2)
(770
)
—

 
7,246

7,461

Accumulated fair value changes:
 

 

Balance, beginning of year
1,049

756

Revaluation gains, net
301

293

Impact of deconsolidation due to loss of control and other(2)
(7
)
—

 
1,343

1,049

Accumulated depreciation:
 

 

Balance, beginning of year
(1,004
)
(750
)
Depreciation
(329
)
(291
)
Disposals
30

18

Foreign currency translation
(15
)
19

Impact of deconsolidation due to loss of control and other(2)
7

—

 
(1,311
)
(1,004
)
Total property, plant and equipment
$
7,278

$
7,506

 
(1) 
Includes the impact of the adoption of IFRS 16 through the recognition of right-of-use assets. See Note 2, Summary of Significant Accounting Policies for further information.
(2) 
Includes the impact of the deconsolidation of BSREP III investments. See Note 5, Investment Properties for further information.