OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

12 Months Ended

Dec. 31, 2021

Disclosure of analysis of other comprehensive income by item [abstract]

Disclosure of other comprehensive income (loss)

Other comprehensive (loss) income consists of the following:

(US$ Millions) Years ended Dec. 31,	2021		2020		2019
Items that may be reclassified to net income:
Foreign currency translation
Unrealized foreign currency translation (losses) gains in respect of foreign operations	$	(467)	$	87	$	207
Reclassification of realized foreign currency translation gains to net income on disposition of foreign operations	27		—		26
Gains (losses) on hedges of net investments in foreign operations, net of income tax expense (benefit) of nil (2020 - nil; 2019 - $2 million)	163		650		(176)
Reclassification of hedges of net investment in foreign operations (losses) to net income on disposition of foreign operations	—		—		6
	(277)		737		63
Cash flow hedges
Gains on derivatives designated as cash flow hedges, net of income tax expense (benefit) of $(12) million (2020 - $4 million; 2019 - $4 million)	95		116		21
	95		116		21
Equity accounted investments
Share of unrealized foreign currency translations (losses) gains in respect of foreign operations	(2)		4		—
Reclassification gains from hedges of net investment in foreign operation to net income on disposition of foreign operations	—		—		1
Share of gains (losses) on derivatives designated as cash flow hedges, net of income tax expense (benefit) of nil (2020 - nil; 2019 – nil)	56		(62)		(51)
	54		(58)		(50)
Items that will not be reclassified to net income:
Unrealized (losses) gains on securities - FVTOCI, net of income tax benefit of $59 million (2020 - $11 million; 2019 - $6 million)	(33)		17		(7)
Share of revaluation surplus (losses) on equity accounted investments, net of income tax expense (benefit) of nil (2020 - nil; 2019 - nil)	354		(206)		16
Net remeasurement gains (losses) on defined benefit plan, net of income tax expense of nil (2020 – nil; 2019 – nil)	—		(1)		(1)
Revaluation surplus (loss), net of income tax expense of $(120) million (2020 –$49 million; 2019 – $22 million)	811		(191)		281
	1,132		(381)		289
Total other comprehensive income (loss)	$	1,004	$	414	$	323