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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities    
Net income $ 2,212 $ 1,417
Share of equity accounted earnings, net of distributions (687) (367)
Fair value (gains), net (1,293) (1,138)
Deferred income tax expense 154 148
Depreciation and amortization 150 136
Working capital and other 44 2,129
Cash flows from (used in) operating activities 580 2,325
Financing activities    
Debt obligations, issuance 4,239 6,880
Debt obligations, repayments (5,331) (7,039)
Capital securities issued 57 0
Capital securities redeemed 0 (248)
Non-controlling interests, issued 436 1,164
Non-controlling interests, purchased (695) 0
Repayment of lease liabilities (12) (12)
FV LTIP units, repurchased (2) 0
Class A shares of Brookfield Property Retail Holding LLC, repurchased 0 (18)
Distributions to non-controlling interests in operating subsidiaries (2,303) (1,497)
Preferred distributions (22) (23)
Distributions to limited partnership unitholders (209) (145)
Distributions to redeemable/exchangeable and special limited partnership unitholders (374) (152)
Distributions to holders of Brookfield Office Properties Exchange LP units 0 (1)
Distributions to holders of FV LTIP units of the Operating Partnership (1) (1)
Distributions to holders of Class A shares of Brookfield Property Retail Holding LLC 0 (13)
Cash flows from (used in) financing activities (4,217) (1,105)
Acquisitions    
Investment properties (673) (1,131)
Property, plant and equipment (125) (63)
Equity accounted investments (33) (569)
Financial assets and other (310) (724)
Cash acquired in business combinations 26 36
Dispositions    
Investment properties 1,054 381
Property, plant and equipment 15 0
Equity accounted investments 634 250
Financial assets and other 802 543
Disposition of subsidiaries 1,981 0
Cash impact of deconsolidation and reclassification to assets held for sale (50) 0
Restricted cash and deposits (43) (116)
Cash flows from (used in) investing activities 3,278 (1,393)
Cash and cash equivalents    
Net change in cash and cash equivalents during the period (359) (173)
Effect of exchange rate fluctuations on cash and cash equivalents held in foreign currencies (42) 2
Balance, beginning of period 2,576 2,473
Balance, end of period 2,175 2,302
Cash paid for:    
Income taxes, net of refunds received 56 19
Interest (excluding dividends on capital securities) $ 1,073 $ 1,149