COMMERCIAL PROPERTY REVENUE (Tables)

6 Months Ended

Jun. 30, 2022

Revenue [abstract]

Disclosure of components of commercial property revenue

The components of commercial property revenue are as follows:

	Three months ended Jun. 30,				Six months ended Jun. 30,
(US$ Millions)	2022		2021		2022		2021
Base rent	$	768	$	870	$	1,580	$	1,718
Straight-line rent	5		15		7		25
Lease termination	2		12		12		45
Other lease income(1)	152		145		322		304
Other revenue from tenants(2)	258		242		519		477
Total commercial property revenue	$	1,185	$	1,284	$	2,440	$	2,569

(1)Other lease income includes parking revenue and recovery of property tax and insurance expenses from tenants.

(2)Consists of recovery of certain operating expenses from tenants which are accounted for in accordance with IFRS 15, Revenue from Contracts with Customers.