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SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2019
Corporate Information And Statement Of IFRS Compliance [Abstract]  
Disclosure of interests in subsidiaries
The following provides information about the partnership's wholly-owned subsidiaries as of December 31, 2019 and 2018:
Business type
 
Name of entity
 
Country of incorporation
 
Voting interest (%)
 
Economic interest (%)
2019
 
2018
 
2019
 
2018
Business services
 
 
 
 
 
 
 
 
 
 
 
 
Financial advisory services business
 
BFIN
 
Canada
 
100
%
 
100
%
 
100
%
 
100
%
Residential real estate services business
 
Brookfield RPS Limited
 
Canada
 
100
%
 
100
%
 
100
%
 
100
%
Construction services business
 
Multiplex
 
United Kingdom
 
100
%
 
100
%
 
100
%
 
100
%

The following table presents details of non-wholly owned subsidiaries of the partnership:
Business type
 
Name of entity
 
Country of incorporation
 
Voting interest (%)
 
Economic interest (%)
2019
 
2018
 
2019
 
2018
Business services
 
 
 
 
 
 
 
 
 
 
 
 
Condominium management services business
 
Crossbridge Condominium Services Ltd.
 
Canada
 
90
%
 
90
%
 
90
%
 
90
%
IT storage facilities management business
 
WatServ
 
Canada
 
75
%
 
75
%
 
75
%
 
75
%
Fuel marketing business
 
BG Fuels
 
Canada
 
100
%
 
100
%
 
26
%
 
26
%
Cold storage logistics
 
Nova Cold Logistics
 
Canada
 
100
%
 
100
%
 
25
%
 
25
%
Road fuel distribution business
 
Greenergy Fuels Holding Limited
 
United Kingdom
 
85
%
 
85
%
 
14
%
 
14
%
Wireless broadband
 
Imagine Communications Group Limited
 
Ireland
 
55
%
 
55
%
 
31
%
 
31
%
Healthcare services
 
Healthscope Limited
 
Australia
 
100
%
 
—
%
 
27
%
 
—
%
Heavy equipment and light vehicle fleet management
 
Ouro Verde Locação e Seviços S.A.
 
Brazil
 
100
%
 
—
%
 
35
%
 
—
%
Mortgage insurance services
 
Genworth MI Canada Inc.
 
Canada
 
57
%
 
—
%
 
29
%
 
—
%
Infrastructure services
 
 
 
 
 
 
 
 
 
 
 
 
Infrastructure services provider to the power generation industry
 
Westinghouse Electric Company
 
United States
 
100
%
 
100
%
 
44
%
 
44
%
Services provider to the offshore oil production industry
 
Teekay Offshore LP
 
United States
 
73
%
 
51
%
 
31
%
 
25
%
Industrials
 
 
 
 
 
 
 
 
 
 
 
 
Limestone mining operations
 
Hammerstone Corporation
 
Canada
 
100
%
 
100
%
 
39
%
 
39
%
Graphite electrode manufacturing business
 
GrafTech International Ltd.
 
United States
 
74
%
 
79
%
 
25
%
 
27
%
Water and wastewater services
 
BRK Ambiental
 
Brazil
 
70
%
 
70
%
 
26
%
 
26
%
Infrastructure support products manufacturing operation
 
AP Infrastructure Solutions LP
 
Canada
 
100
%
 
100
%
 
25
%
 
25
%
Provider of returnable plastic packaging
 
Schoeller Allibert Group B.V.
 
Netherlands
 
52
%
 
52
%
 
14
%
 
14
%
Canadian well-servicing operation
 
CWC Energy Services Corp.
 
Canada
 
80
%
 
78
%
 
54
%
 
56
%
Canadian energy operation
 
Ember Resources Inc.
 
Canada
 
100
%
 
100
%
 
46
%
 
41
%
Automotive batteries
 
Clarios Global LP
 
United States
 
100
%
 
—
%
 
28
%
 
—
%
The following tables present the gross assets and liabilities as well as gross amounts of revenue, net income, other comprehensive income and distributions from the partnership’s investments in material non-wholly owned subsidiaries for the years ended December 31, 2019, 2018 and 2017:
 
Year Ended December 31, 2019
 
Total
Profit/(loss) allocated to others ownership interest
 
Distributions to others ownership interest
 
Equity to others ownership interest
(US$ MILLIONS)
Current assets
 
Non-current assets
 
Current liabilities
 
Non-current liabilities
 
Revenue
 
Profit/(loss)
 
OCI
 
Business services
$
3,743

 
$
11,388

 
$
4,448

 
$
6,247

 
$
23,773

 
$
200

 
$
35

 
$
111

 
$
(368
)
 
$
3,166

Infrastructure services
2,358

 
8,262

 
2,289

 
7,028

 
4,559

 
(446
)
 
(138
)
 
(281
)
 
(370
)
 
833

Industrials
4,622

 
17,864

 
2,729

 
15,815

 
9,644

 
660

 
(104
)
 
502

 
(936
)
 
2,968

Total
$
10,723

 
$
37,514

 
$
9,466

 
$
29,090

 
$
37,976

 
$
414

 
$
(207
)
 
$
332

 
$
(1,674
)
 
$
6,967

 
Year Ended December 31, 2018
 
Total
Profit/(loss) allocated to others ownership interest
 
Distributions to others ownership interest
 
Equity to others ownership interest
(US$ MILLIONS)
Current assets
 
Non-current assets
 
Current liabilities
 
Non-current liabilities
 
Revenue
 
Profit/(loss)
 
OCI
 
Business services
$
2,413

 
$
1,773

 
$
3,113

 
$
475

 
$
25,785

 
$
(20
)
 
$
4

 
$
(20
)
 
$
(46
)
 
$
424

Infrastructure services
2,889

 
8,750

 
2,921

 
6,208

 
2,419

 
282

 
(121
)
 
170

 
(16
)
 
1,534

Industrials
1,991

 
5,656

 
1,040

 
4,823

 
3,894

 
895

 
(239
)
 
612

 
(1,542
)
 
1,425

Total
$
7,293

 
$
16,179

 
$
7,074

 
$
11,506

 
$
32,098

 
$
1,157

 
$
(356
)
 
$
762

 
$
(1,604
)
 
$
3,383

 
Year Ended December 31, 2017
 
Total
Profit/(loss) allocated to others ownership interest
 
Distributions to others ownership interest
 
Equity to others ownership interest
(US$ MILLIONS)
Current assets
 
Non-current assets
 
Current liabilities
 
Non-current liabilities
 
Revenue
 
Profit/(loss)
 
OCI
 
Business services
$
2,606

 
$
1,744

 
$
2,774

 
$
948

 
$
15,676

 
$
45

 
$
11

 
$
35

 
$
46

 
$
476

Industrials
1,095

 
5,812

 
904

 
2,731

 
1,913

 
(4
)
 
41

 
4

 
25

 
2,338

Total
$
3,701

 
$
7,556

 
$
3,678

 
$
3,679

 
$
17,589

 
$
41

 
$
52

 
$
39

 
$
71

 
$
2,814

The following table outlines the composition of accumulated non-controlling interests (“NCI”) related to the interest of others presented in the partnership’s consolidated statements of financial position:
(US$ MILLIONS)
 
2019
 
2018
NCI related to material non-wholly owned subsidiaries
 
 
 
 
Business services
 
$
3,166

 
$
424

Infrastructure services
 
833

 
1,534

Industrials
 
2,968

 
1,425

Total NCI in material non-wholly owned subsidiaries
 
$
6,967

 
$
3,383

Total individually immaterial NCI balances
 
294

 
148

Total NCI
 
$
7,261

 
$
3,531
Disclosure of detailed information about property, plant and equipment
Depreciation of an asset commences when it is available for use. PP&E is depreciated for each component of the asset classes as follows:
Buildings
Up to 50 years
Leasehold improvements
Up to 40 years but not exceeding the term of the lease
Machinery and equipment
Up to 20 years
Vessels
Up to 35 years
Oil and gas related equipment
Units of production
(US$ MILLIONS)
 
Land
 
Building
 
Machinery and equipment
 
Mineral property assets and oil and gas properties
 
Vessels
 
Others
 
Right-of-use assets
 
Total assets
Gross Carrying Amount
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at January 1, 2018
 
$
103

 
$
397

 
$
1,310

 
$
1,516

 
$
—

 
$
99

 
$
—

 
$
3,425

Additions (cash and non-cash)
 
1

 
37

 
301

 
64

 
86

 
11

 
—

 
500

Dispositions
 
(3
)
 
(5
)
 
(95
)
 
(2
)
 
(19
)
 
(7
)
 
—

 
(131
)
Acquisitions through business combinations (1)
 
44

 
262

 
801

 
—

 
3,738

 
68

 
—

 
4,913

Transfers and assets reclassified as held for sale (2)
 
(12
)
 
(2
)
 
(13
)
 
1

 
(13
)
 
1

 
—

 
(38
)
Foreign currency translation
 
(6
)
 
(40
)
 
(81
)
 
(119
)
 
—

 
(8
)
 
—

 
(254
)
Balance at December 31, 2018
 
$
127

 
$
649

 
$
2,223

 
$
1,460

 
$
3,792

 
$
164

 
$
—

 
$
8,415

Additions (cash and non-cash)
 
1

 
346

 
582

 
88

 
210

 
69

 
233

 
1,529

Dispositions
 
(1
)
 
(78
)
 
(266
)
 
(345
)
 
—

 
(23
)
 
(59
)
 
(772
)
Acquisitions through business combinations (1)
 
523

 
2,886

 
2,677

 
—

 
—

 
263

 
228

 
6,577

Transfers and assets reclassified as held for sale (2)
 
(22
)
 
(107
)
 
(178
)
 
—

 
(31
)
 
(54
)
 
60

 
(332
)
Changes in accounting policy
 
—

 
—

 
—

 
—

 
—

 
—

 
978

 
978

Foreign currency translation
 
5

 
12

 
(3
)
 
69

 
(1
)
 
2

 
23

 
107

Balances at December 31, 2019
 
$
633

 
$
3,708

 
$
5,035

 
$
1,272

 
$
3,970

 
$
421

 
$
1,463

 
$
16,502

Accumulated Depreciation and Impairment
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at January 1, 2018
 
$
—

 
$
(44
)
 
$
(364
)
 
$
(450
)
 
$
—

 
$
(37
)
 
—

 
(895
)
Depreciation/depletion/impairment expense
 
—

 
(28
)
 
(192
)
 
(306
)
 
(182
)
 
(12
)
 
—

 
(720
)
Dispositions
 
—

 
1

 
55

 
—

 
3

 
3

 
—

 
62

Transfers and assets reclassified as held for sale (2)
 
—

 
1

 
2

 
—

 
—

 
(1
)
 
—

 
2

Foreign currency translation
 
—

 
5

 
23

 
50

 
—

 
5

 
—

 
83

Balances at December 31, 2018 (3) (4)
 
$
—

 
$
(65
)
 
$
(476
)
 
$
(706
)
 
$
(179
)
 
$
(42
)
 
$
—

 
$
(1,468
)
Depreciation/depletion/impairment expense
 
—

 
(80
)
 
(485
)
 
(61
)
 
(530
)
 
(48
)
 
(203
)
 
(1,407
)
Dispositions
 
—

 
21

 
123

 
81

 
—

 
14

 
24

 
263

Transfers and assets reclassified as held for sale (2)
 
—

 
17

 
53

 
—

 
3

 
4

 
(15
)
 
62

Foreign currency translation
 
—

 
1

 
(24
)
 
(36
)
 
1

 
1

 
(3
)
 
(60
)
Balances at December 31, 2019 (3) (4)
 
$
—

 
$
(106
)
 
$
(809
)
 
$
(722
)
 
$
(705
)
 
$
(71
)
 
$
(197
)
 
$
(2,610
)
Net book value
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2018
 
$
127

 
$
584

 
$
1,747

 
$
754

 
$
3,613

 
$
122

 
$
—

 
$
6,947

December 31, 2019
 
$
633

 
$
3,602

 
$
4,226

 
$
550

 
$
3,265

 
$
350

 
$
1,266

 
$
13,892

____________________________________
(1) 
See Note 3 for additional information.
(2) 
Includes assets that were reclassified as held for sale and subsequently disposed. See Note 8 and Note 9 for additional information.
(3) 
Includes accumulated impairment losses of $14 million (2018: $5 million) for machinery and equipment, $271 million (2018: $258 million) for oil and gas properties and $184 million (2018: $nil) for vessels.
(4) 
As at December 31, 2019 a total of $48 million (2018: $331 million) of future development costs were included in the depletion calculation.
The right-of-use assets and assets subject to operating leases in which the partnership is a lessor by class of underlying asset as at December 31, 2019 and the depreciation expense of right-of-use assets by class of underlying asset for the year ended December 31, 2019 are outlined below:
(US$ MILLIONS)
 
Land
 
Building
 
Machinery and equipment
 
Mineral property assets and oil and gas properties
 
Vessels
 
Others
 
Total
Lessee
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Right-of-use asset
 
8

 
632

 
552

 
—

 
53

 
21

 
$
1,266

Depreciation expense
 
(1
)
 
(88
)
 
(91
)
 
—

 
(11
)
 
(12
)
 
$
(203
)
Lessor
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Assets subject to operating leases
 
—

 
—

 
313

 
—

 
2,494

 
—

 
$
2,807
Disclosure of detailed information about intangible asset amortization periods
Definite life intangible assets are amortized on a straight line basis over the following periods:
Water and sewage concession rights
Up to 40 years
Brand names
Up to 20 years
Computer software
Up to 10 years
Customer relationships
Up to 30 years
Value of insurance contracts acquired
Up to 15 years
Patents and trademarks
Up to 40 years
Proprietary technology
Up to 20 years
Product development costs
Up to 5 years
Distribution networks
Up to 25 years
Loyalty program
Up to 15 years
Explanation of measurement bases used in preparing financial statements
The table below summarizes the partnership’s classification and measurement of financial assets and liabilities, under IFRS 9:


 
IFRS 9 Measurement Category
 
Statement of Financial
Position Account
Financial assets
 
 
 
 
Cash and cash equivalents
 
Amortized cost
 
Cash and cash equivalents
Accounts receivable
 
Amortized cost / FVTPL
 
Accounts and other receivable, net
Restricted cash
 
Amortized cost
 
Financial assets
Equity securities
 
FVTPL / FVOCI
 
Financial assets
Debt securities
 
FVTPL / FVOCI / Amortized cost
 
Financial assets
Derivative assets
 
FVTPL (1)
 
Financial assets
Other financial assets
 
Amortized cost / FVTPL / FVOCI
 
Financial assets
Financial liabilities
 
 
 
 
Borrowings
 
Amortized cost
 
Borrowings
Accounts payable and other
 
Amortized cost
 
Accounts payable and other
Derivative liabilities
 
FVTPL (1)
 
Accounts payable and other
____________________________________
(1) 
Derivatives are classified and measured at FVTPL except those designated in hedging relationships.