XML 184 R80.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
FINANCIAL INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2019
Financial Instruments [Abstract]  
Disclosure of hedging instruments
The following table provides the partnership’s outstanding derivatives that are designated as cash flow hedges of variability in interest rates associated with forecasted fixed rate financings and existing variable rate debt as of December 31, 2019 and 2018:

(US$ Millions)
Hedging item
Notional

Rates
Maturity dates
Fair value

Dec. 31, 2019(1)
Interest rate caps of US$ LIBOR debt
$
7,774

2.7% - 6.0%
May. 2020 - Sep. 2023
$
—

 
Interest rate swaps of US$ LIBOR debt
2,877

1.4% - 2.7%
Feb. 2020 - Feb. 2024
(57
)
 
Interest rate caps of £ LIBOR debt
3,096

2.0% - 2.5%
Jan. 2021 - Jan. 2022
—

 
Interest rate swaps of £ LIBOR debt
74

1.5%
Apr. 2020
—

 
Interest rate caps of € EURIBOR debt
109

1.3%
Apr. 2021
—

 
Interest rate caps of C$ LIBOR debt
184

3.0%
Oct. 2020 - Oct. 2022
—

 
Cross currency swaps of C$ LIBOR Debt
600

4.3% - 5.0%
Oct. 2021 - Mar. 2024
(95
)
Dec. 31, 2018
Interest rate caps of US$ LIBOR debt
$
8,180

2.3% - 6.0%
Jan. 2019 - Sep. 2023
$
2

 
Interest rate swaps of US$ LIBOR debt
1,731

1.6% - 2.8%
Feb. 2020 - May 2024
(2
)
 
Interest rate caps of £ LIBOR debt
486

2.0%
Apr. 2020 - Jan. 2021
—

 
Interest rate swaps of £ LIBOR debt
67

1.5%
Apr. 2020
—

 
Interest rate caps of € EURIBOR debt
115

1.0% - 1.3%
Apr. 2020 - Apr. 2021
—

 
Interest rate caps of C$ LIBOR debt
176

3.0%
Oct. 2020 - Oct. 2022
—

 
Interest rate swaps of C$ LIBOR debt
56

4.6%
Sep. 2023
—

 
Interest rate swaps on forecasted fixed rate debt
100

4.0%
Jun. 2019
(114
)

(1) 
The IBOR Amendments disclosed in Note 2(m), Summary of Significant Accounting Policies - Financial instruments and hedge accounting, have been applied to all outstanding hedging items as of December 31, 2019
The following table presents the partnership’s outstanding derivatives that are designated as net investment hedges in foreign subsidiaries or cash flow hedges as of December 31, 2019 and 2018:

(US$ Millions)
Hedging item
Net Notional
 
Rates
Maturity dates
Fair value

Dec. 31, 2019
Net investment hedges
€
245

 €0.85/$ - €0.91/$
 Mar. 2020 - Jul. 2020
7

 
Net investment hedges
£
2,444

 £0.74/$ - £0.85/$
 Jan. 2020 - Sep. 2021
(247
)
 
Net investment hedges
A$
238

 A$1.38/$ - A$1.48/$
 Mar. 2020 - Mar. 2021
(5
)
 
Net investment hedges
C¥
962

 C¥6.75/$ - C¥7.16/$
 Apr. 2020 - Jun. 2021
—

 
Net investment hedges
C$
355

 C$1.31/$ - C$1.33/$
 Jun. 2020 - Sep. 2021
—

 
Net investment hedges
R$
1,582

 R$4.16/$ - R$4.16/$
 Jun. 2020 - Jun. 2020
(10
)
 
Net investment hedges
₩
720,095

 ₩1,149.50/$ - ₩1,174.30/$
 Mar. 2020 - Mar. 2021
(7
)
 
Net investment hedges
Rs
—

 Rs71.78/$ - Rs73.01/$
 Mar. 2020 - Apr. 2020
—

 
Net investment hedges
£
77

 £0.88/€ - £0.93/€
 Jan. 2020 - Apr. 2021
—

 
Cross currency swaps of C$ LIBOR debt
C$
800

C$1.29/$ - C$1.33/$
Oct. 2021 - Jul. 2023
(8
)
Dec. 31, 2018
Net investment hedges
€
649

€0.78/$ - €0.88/$
Jan. 2019 - May 2020
$
13

 
Net investment hedges
£
3,175

£0.70/$ - £0.79/$
Feb. 2019 - Mar. 2020
104

 
Net investment hedges
A$
1,038

A$1.28/$ - A$1.42/$
Jan. 2019 - Mar. 2020
20

 
Net investment hedges
C¥
2,672

C¥6.35/$ - C¥6.91/$
Jan. 2019 - Nov. 2019
6

 
Net investment hedges
C$
118

C$1.29/$ - C$1.34/$
Oct. 2019 - Nov 2019
4

 
Net investment hedges
R$
158

R$3.90/$ - R$4.24/$
Jan. 2019 - Jun. 2019
(9
)
 
Net investment hedges
₩
618,589

 ₩1,087.00/$ - ₩1,130.90/$
Jan. 2019 - Nov. 2019
1

 
Net investment hedges
Rs
31,422

Rs67.44/$ - Rs70.39/$
Feb. 2019 - May 2019
3

 
Net investment hedges
£
77

£0.88/€ - £0.92/€
Jan. 2019 - Feb. 2020
(1
)
 
Cross currency swaps of C$ LIBOR debt
C$
800

C$1.29/$ - C$1.33/$
Oct. 2021 - Jul. 2023
(31
)
Disclosure of other derivatives
The following tables provide detail of the partnership’s other derivatives, not designated as hedges for accounting purposes, that have been entered into to manage financial risks as of December 31, 2019 and 2018:

(US$ millions)
Derivative type
Notional

Rates
Maturity dates
Fair value

Dec. 31, 2019
Interest rate caps
$
5,663

2.5% - 5.0%
Mar. 2020 - Nov. 2021
$
—

 
Interest rate swaps on forecasted fixed rate debt
1,285

1.1% - 6.4%
Jun. 2020 - Sep. 2031
(149
)
 
Interest rate swaps of US$ debt
2,003

1.7% - 4.6%
Nov. 2020 - Sep. 2023
(14
)
Dec. 31, 2018
Interest rate caps
$
9,750

3.0% - 7.0%
Mar. 2019 - Jan. 2022
$
1

 
Interest rate swaps on forecasted fixed rate debt
1,660

2.3% - 6.1%
Jun. 2019 - Nov. 2030
(67
)
 
Interest rate swaps of US$ debt
835

2.4% - 5.8%
Jul. 2019 - Oct. 2039
(14
)
 
Interest rate swaps on fixed rate debt
180

4.5% - 7.3%
Feb. 2019 - Jul. 2023
2
Disclosure of financial assets
The following table outlines the classification and measurement basis, and related fair value for disclosures, of the financial assets and liabilities in the consolidated financial statements:
 
 
 
Dec. 31, 2019
Dec. 31, 2018
(US$ Millions)
Classification and measurement basis
Carrying
value

Fair
value

Carrying
value

Fair
value

Financial assets
 
 

 

 

 

Participating loan interests
FVTPL
$
—

$
—

$
268

$
268

Loans and notes receivable
Amortized cost
329

329

1,055

1,055

Other non-current assets
 
 

 

 

 

Securities - FVTPL
FVTPL
1,250

1,250

239

239

Derivative assets
FVTPL
10

10

13

13

Securities - FVTOCI
FVTOCI
121

121

260

260

Restricted cash
Amortized cost
154

154

161

161

Current assets
 
 

 

 

 

Derivative assets
FVTPL
80

80

234

234

Accounts receivable(1)
Amortized cost
514

514

808

808

Restricted cash
Amortized cost
239

239

631

631

Cash and cash equivalents
Amortized cost
1,438

1,438

3,288

3,288

Total financial assets
 
$
4,135

$
4,135

$
6,957

$
6,957

Financial liabilities
 
 

 

 

 

Debt obligations(2)
Amortized cost
$
55,528

$
56,112

$
63,964

$
64,561

Capital securities
Amortized cost
2,153

2,160

2,572

2,578

Capital securities - fund subsidiaries
FVTPL
922

922

813

813

Other non-current liabilities
 
 

 

 

 

Loan payable
FVTPL
—

—

24

24

Accounts payable
Amortized cost
778

778

1,770

1,770

Derivative liabilities
FVTPL
413

413

159

159

Accounts payable and other liabilities
 
 
 
 
 
Accounts payable and other(3)
Amortized cost
2,711

2,711

3,255

3,255

Derivative liabilities
FVTPL
289

289

181

181

Total financial liabilities
 
$
62,794

$
63,385

$
72,738

$
73,341

(1) 
Includes other receivables associated with assets classified as held for sale on the consolidated balance sheets in the amounts of $4 million and $14 million as of December 31, 2019 and December 31, 2018, respectively.
(2) 
Includes debt obligations associated with assets classified as held for sale on the consolidated balance sheets in the amount of $138 million and $153 million as of December 31, 2019 and December 31, 2018, respectively.
(3) 
Includes accounts payable and other liabilities associated with assets classified as held for sale on the consolidated balance sheets in the amount of $2 million and $10 million as of December 31, 2019 and December 31, 2018, respectively.
Disclosure of financial liabilities
The following table outlines the classification and measurement basis, and related fair value for disclosures, of the financial assets and liabilities in the consolidated financial statements:
 
 
 
Dec. 31, 2019
Dec. 31, 2018
(US$ Millions)
Classification and measurement basis
Carrying
value

Fair
value

Carrying
value

Fair
value

Financial assets
 
 

 

 

 

Participating loan interests
FVTPL
$
—

$
—

$
268

$
268

Loans and notes receivable
Amortized cost
329

329

1,055

1,055

Other non-current assets
 
 

 

 

 

Securities - FVTPL
FVTPL
1,250

1,250

239

239

Derivative assets
FVTPL
10

10

13

13

Securities - FVTOCI
FVTOCI
121

121

260

260

Restricted cash
Amortized cost
154

154

161

161

Current assets
 
 

 

 

 

Derivative assets
FVTPL
80

80

234

234

Accounts receivable(1)
Amortized cost
514

514

808

808

Restricted cash
Amortized cost
239

239

631

631

Cash and cash equivalents
Amortized cost
1,438

1,438

3,288

3,288

Total financial assets
 
$
4,135

$
4,135

$
6,957

$
6,957

Financial liabilities
 
 

 

 

 

Debt obligations(2)
Amortized cost
$
55,528

$
56,112

$
63,964

$
64,561

Capital securities
Amortized cost
2,153

2,160

2,572

2,578

Capital securities - fund subsidiaries
FVTPL
922

922

813

813

Other non-current liabilities
 
 

 

 

 

Loan payable
FVTPL
—

—

24

24

Accounts payable
Amortized cost
778

778

1,770

1,770

Derivative liabilities
FVTPL
413

413

159

159

Accounts payable and other liabilities
 
 
 
 
 
Accounts payable and other(3)
Amortized cost
2,711

2,711

3,255

3,255

Derivative liabilities
FVTPL
289

289

181

181

Total financial liabilities
 
$
62,794

$
63,385

$
72,738

$
73,341

(1) 
Includes other receivables associated with assets classified as held for sale on the consolidated balance sheets in the amounts of $4 million and $14 million as of December 31, 2019 and December 31, 2018, respectively.
(2) 
Includes debt obligations associated with assets classified as held for sale on the consolidated balance sheets in the amount of $138 million and $153 million as of December 31, 2019 and December 31, 2018, respectively.
(3) 
Includes accounts payable and other liabilities associated with assets classified as held for sale on the consolidated balance sheets in the amount of $2 million and $10 million as of December 31, 2019 and December 31, 2018, respectively.
Disclosure of valuation techniques and inputs for fair value liabilities
The following table presents the valuation techniques and inputs of the partnership’s Level 2 assets and liabilities:
 
Type of asset/liability
 
Valuation technique
Foreign currency forward contracts
 
Discounted cash flow model - forward exchange rates (from observable forward exchange rates at the end of the reporting period) and discounted at a credit adjusted rate
Interest rate contracts
 
Discounted cash flow model - forward interest rates (from observable yield curves) and applicable credit spreads discounted at a credit adjusted rate
 
The table below presents the valuation techniques and inputs of Level 3 assets:
 
Type of asset/liability
 
Valuation techniques
 
Significant unobservable input(s)
 
Relationship of unobservable input(s) to fair value
Participating loan interests
 
Discounted cash flow model
 
(a) Discount rate
(b) Terminal capitalization rate
 
(a) Decreases (increases) in the discount rate would increase (decrease) fair value
(b) Increases (decreases) in the terminal capitalization rate would (decrease) increase fair value
Securities - FVTPL/FVTOCI
 
Net asset valuation
 
(a) Forward exchange rates (from observable forward exchange rates at the end of the reporting period)
(b) Discount rate
 
(a) Increases (decreases) in the forward exchange rate would increase (decrease) fair value
(b) Decreases (increases) in the discount rate would increase (decrease) fair value
Disclosure of valuation techniques and inputs for fair value assets
The key valuation metrics for the partnership’s consolidated commercial properties are set forth in the following tables below on a weighted-average basis:

 
 
Dec. 31, 2019
Dec. 31, 2018
Consolidated properties
Primary valuation
method
Discount
rate

Terminal
capitalization
rate

Investment
horizon
(yrs.)
Discount
rate

Terminal
capitalization
rate

Investment
horizon
(yrs.)

Core Office
 
 

 

 
 

 

 

United States
Discounted cash flow
7.0
%
5.6
%
12
6.9
%
5.6
%
12

Canada
Discounted cash flow
5.9
%
5.2
%
10
6.0
%
5.4
%
10

Australia
Discounted cash flow
6.8
%
5.9
%
10
7.0
%
6.2
%
10

Europe
Discounted cash flow
4.6
%
4.1
%
11
—
%
—
%
—

Brazil
Discounted cash flow
7.9
%
7.4
%
10
9.6
%
7.7
%
6

Core Retail
Discounted cash flow
6.7
%
5.4
%
10
7.1
%
6.0
%
12

LP Investments Office
Discounted cash flow
10.0
%
7.3
%
7
10.2
%
7.0
%
6

LP Investments Retail
Discounted cash flow
8.8
%
7.3
%
10
8.9
%
7.8
%
9

Mixed-use
Discounted cash flow
7.6
%
5.4
%
10
7.8
%
5.4
%
10

Logistics(1)
Direct capitalization
5.8
%
n/a

n/a
9.3
%
8.3
%
10

Multifamily(1)
Direct capitalization
5.1
%
n/a

n/a
4.8
%
n/a

n/a

Triple Net Lease(1)
Direct capitalization
6.3
%
n/a

n/a
6.3
%
n/a

n/a

Self-storage(1)
Direct capitalization
5.6
%
n/a

n/a
5.7
%
n/a

n/a

Student Housing(1)
Direct capitalization
5.8
%
n/a

n/a
5.6
%
n/a

n/a

Manufactured Housing(1)
Direct capitalization
5.5
%
n/a

n/a
5.4
%
n/a

n/a

(1) 
The valuation method used to value multifamily, triple net lease, self-storage, student housing, logistics and manufactured housing properties is the direct capitalization method. The rates presented as the discount rate relate to the overall implied capitalization rate. The terminal capitalization rate and investment horizon are not applicable.

The following table presents the valuation techniques and inputs of the partnership’s Level 2 assets and liabilities:
 
Type of asset/liability
 
Valuation technique
Foreign currency forward contracts
 
Discounted cash flow model - forward exchange rates (from observable forward exchange rates at the end of the reporting period) and discounted at a credit adjusted rate
Interest rate contracts
 
Discounted cash flow model - forward interest rates (from observable yield curves) and applicable credit spreads discounted at a credit adjusted rate
 
The table below presents the valuation techniques and inputs of Level 3 assets:
 
Type of asset/liability
 
Valuation techniques
 
Significant unobservable input(s)
 
Relationship of unobservable input(s) to fair value
Participating loan interests
 
Discounted cash flow model
 
(a) Discount rate
(b) Terminal capitalization rate
 
(a) Decreases (increases) in the discount rate would increase (decrease) fair value
(b) Increases (decreases) in the terminal capitalization rate would (decrease) increase fair value
Securities - FVTPL/FVTOCI
 
Net asset valuation
 
(a) Forward exchange rates (from observable forward exchange rates at the end of the reporting period)
(b) Discount rate
 
(a) Increases (decreases) in the forward exchange rate would increase (decrease) fair value
(b) Decreases (increases) in the discount rate would increase (decrease) fair value
Disclosure of fair value measurement of assets
The following table presents a sensitivity analysis to the impact of a 25 basis point movement of the discount rate and terminal capitalization or overall implied capitalization rate on fair values of the partnership’s commercial properties for December 31, 2019, for properties valued using the discounted cash flow or direct capitalization method, respectively:

 
Dec. 31, 2019
(US$ Millions)
Impact on fair value of commercial properties

Core Office
 
United States
$
764

Canada
223

Australia
174

Europe
20

Brazil
13

Core Retail
1,112

LP Investments
 
LP Investments Office
363

LP Investments Retail
108

Logistics
3

Mixed-use
112

Multifamily
130

Triple Net Lease
160

Self-storage
38

Student Housing
101

Manufactured Housing
107

Total
$
3,428

The following table presents the partnership’s investment properties measured at fair value in the consolidated financial statements and the level of the inputs used to determine those fair values in the context of the hierarchy as defined in Note 2(i) above.
 

Dec. 31, 2019
Dec. 31, 2018
 




Level 3




Level 3
(US$ Millions)
Level 1

Level 2

Commercial properties

Commercial developments

Level 1

Level 2

Commercial properties

Commercial developments

Core Office
 
 
 
 
 
 
 
 
United States
$
—

$
—

$
15,213

$
535

$
—

$
—

$
14,415

$
822

Canada
—

—

4,633

173

—

—

4,127

118

Australia
—

—

1,881

419

—

—

2,342

49

Europe
—

—

936

1,931

—

—

137

1,194

Brazil
—

—

361

—

—

—

329

—

Core Retail (1)
—

—

21,561

—

—

—

17,224

383

LP Investments
 
 
 
 
 
 
 
 
LP Investments Office(1)
—

—

8,054

702

—

—

7,861

577

LP Investments Retail
—

—

2,812

—

—

—

3,408

6

Logistics
—

—

84

10

—

—

183

—

Multifamily
—

—

2,937

—

—

—

4,151

—

Triple Net Lease
—

—

4,508

—

—

—

5,067

—

Self-storage
—

—

991

16

—

—

847

84

Student Housing
—

—

2,445

160

—

—

2,031

386

Manufactured Housing
—

—

2,446

—

—

—

2,369

—

Mixed-Use (1)
—

—

2,703

—

—

—

11,523

563

Total
$
—

$
—

$
71,565

$
3,946

$
—

$
—

$
76,014

$
4,182


(1)
Includes the impact of the deconsolidation of BSREP III investments. See above for further information.
The following table presents the change in the balance of financial assets and financial liabilities classified as Level 3 as of December 31, 2019 and 2018:
 
 
Dec. 31, 2019
Dec. 31, 2018
(US$ Millions)
Financial
assets

Financial
liabilities

Financial
assets

Financial
liabilities

Balance, beginning of year
$
767

$
838

$
835

$
836

Additions
950

—

201

—

Dispositions
(125
)
—

(7
)
(2
)
Fair value gains, net and OCI
206

8

(14
)
4

Other
(427
)
76

(248
)
—

Balance, end of year
$
1,371

$
922

$
767

$
838

The following table outlines financial assets and liabilities measured at fair value in the financial statements and the level of the inputs used to determine those fair values in the context of the hierarchy as defined above:
 
 
Dec. 31, 2019
Dec. 31, 2018
(US$ Millions)
Level 1

Level 2

Level 3

Total

Level 1

Level 2

Level 3

Total

Financial assets
 

 

 

 

 

 

 

 

Participating loan interests
$
—

$
—

$
—

$
—

$
—

$
—

$
268

$
268

Securities designated as FVTPL
—

—

1,250

1,250

—

—

239

239

Securities designated as FVTOCI
—

—

121

121

—

—

260

260

Derivative assets
—

90

—

90

—

247

—

247

Total financial assets
$
—

$
90

$
1,371

$
1,461

$
—

$
247

$
767

$
1,014

 
 
 
 
 
 
 
 
 
Financial liabilities
 

 

 

 

 

 

 

 

Capital securities - fund subsidiaries
$
—

$
—

$
922

$
922

$
—

$
—

$
813

$
813

Derivative liabilities
—

702

—

702

—

340

—

340

Loan payable
—

—

—

—

—

—

24

24

Total financial liabilities
$
—

$
702

$
922

$
1,624

$
—

$
340

$
837

$
1,177
Disclosure of fair value measurement of liabilities
The following table presents the change in the balance of financial assets and financial liabilities classified as Level 3 as of December 31, 2019 and 2018:
 
 
Dec. 31, 2019
Dec. 31, 2018
(US$ Millions)
Financial
assets

Financial
liabilities

Financial
assets

Financial
liabilities

Balance, beginning of year
$
767

$
838

$
835

$
836

Additions
950

—

201

—

Dispositions
(125
)
—

(7
)
(2
)
Fair value gains, net and OCI
206

8

(14
)
4

Other
(427
)
76

(248
)
—

Balance, end of year
$
1,371

$
922

$
767

$
838

The following table outlines financial assets and liabilities measured at fair value in the financial statements and the level of the inputs used to determine those fair values in the context of the hierarchy as defined above:
 
 
Dec. 31, 2019
Dec. 31, 2018
(US$ Millions)
Level 1

Level 2

Level 3

Total

Level 1

Level 2

Level 3

Total

Financial assets
 

 

 

 

 

 

 

 

Participating loan interests
$
—

$
—

$
—

$
—

$
—

$
—

$
268

$
268

Securities designated as FVTPL
—

—

1,250

1,250

—

—

239

239

Securities designated as FVTOCI
—

—

121

121

—

—

260

260

Derivative assets
—

90

—

90

—

247

—

247

Total financial assets
$
—

$
90

$
1,371

$
1,461

$
—

$
247

$
767

$
1,014

 
 
 
 
 
 
 
 
 
Financial liabilities
 

 

 

 

 

 

 

 

Capital securities - fund subsidiaries
$
—

$
—

$
922

$
922

$
—

$
—

$
813

$
813

Derivative liabilities
—

702

—

702

—

340

—

340

Loan payable
—

—

—

—

—

—

24

24

Total financial liabilities
$
—

$
702

$
922

$
1,624

$
—

$
340

$
837

$
1,177
Disclosure of interest rate and foreign currency risk
The following table outlines the impact on interest expense of a 100 basis point increase or decrease in interest rates on the partnership’s variable rate liabilities and fixed rate debt maturing within one year:
 
(US$ Millions)
Dec. 31, 2019

Dec. 31, 2018

Variable rate property debt
$
250

$
382

Fixed rate property debt due within one year
7

5

Total
$
257

$
387
Disclosure of sensitivity analysis for types of market risk
The partnership’s exposures to foreign currencies and the sensitivity of net income and other comprehensive income, on a pre-tax basis, to a 10% change in the exchange rates relative to the U.S. dollar is summarized below:

 
Dec. 31, 2019
(Millions)
Equity attributable to Unitholders
 
OCI

Net income

Canadian Dollar(1)
C$
377

$
(29
)
$
—

Australian Dollar
A$
2,154

(151
)
—

British Pound
£
3,275

(434
)
—

Euro
€
339

(38
)
—

Brazilian Real
R$
3,310

(82
)
—

Indian Rupee
Rs
26,628

(37
)
—

Chinese Yuan
C¥
933

(13
)
—

South Korean Won
₩
160,969

(14
)
—

United Arab Emirates Dirham
AED
683

(19
)
—

Czech Koruna
CZK
10

—

—

Hungarian Forint
HUF
314

—

—

Poland Zloty
PLN
3

—

—

Total
 
 
$
(817
)
$
—

(1) 
Net of Canadian Dollar denominated loans.

 
Dec. 31, 2018
(Millions)
Equity attributable to Unitholders
 
OCI

Net income

Canadian Dollar(1)
C$
58

$
(4
)
$
—

Australian Dollar
A$
2,977

(210
)
—

British Pound
£
3,965

(506
)
—

Euro
€
505

(58
)
—

Brazilian Real
R$
2,823

(73
)
—

Indian Rupee
Rs
25,022

(36
)
—

Hong Kong Dollar
HK$
(75
)
1

—

Chinese Yuan
C¥
1,593

(23
)
—

South Korean Won
₩
245,507

(22
)
—

United Arab Emirates Dirham
AED
451

(12
)
—

Total
 


$
(943
)
$
—

(1) 
Net of Canadian Dollar denominated loans.

 
Dec. 31, 2017
(Millions)
Equity attributable to Unitholders
 
OCI

Net income

Canadian Dollar(1)
C$
4

$
—

$
—

Australian Dollar
A$
2,679

(209
)
—

British Pound
£
3,719

(503
)
—

Euro
€
213

(26
)
—

Brazilian Real
R$
2,591

(78
)
—

Indian Rupee
Rs
15,904

(25
)
—

Hong Kong Dollar
HK$
(75
)
1

—

Chinese Yuan
C¥
1,207

(19
)
—

South Korean Won
₩
232,345

(22
)
—

United Arab Emirates Dirham
AED
451

(12
)
—

Total
 
 

$
(893
)
$
—

(1) 
Net of Canadian Dollar denominated loans.