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BORROWINGS
 12 Months Ended
Dec. 31, 2021
Borrowings [abstract]  
BORROWINGS BORROWINGS
    Principal repayments on total borrowings due over the next five years and thereafter are as follows:
(US$ MILLIONS)Business servicesInfrastructure servicesIndustrialsCorporate and otherTotal borrowings
2022$1,067 $848 $189 $— $2,104 
2023344 804 728 — 1,876 
20241,212 769 542 — 2,523 
2025139 3,187 901 — 4,227 
202694 288 7,410 1,619 9,411 
Thereafter1,051 3,426 5,017 — 9,494 
Total - Principal repayments$3,907 $9,322 $14,787 $1,619 $29,635 
Total - Deferred financing costs and other$(35)$(223)$(301)$— $(559)
Total - December 31, 2021$3,872 $9,099 $14,486 $1,619 $29,076 
Total - December 31, 2020$3,389 $5,904 $13,873 $610 $23,776 
(a)    Corporate borrowings
    The partnership has bilateral credit facilities backed by global banks. The credit facilities are available in Euros, British pounds, Australian dollars, U.S. dollars and Canadian dollars. Advances under the credit facilities bear interest at the specified LIBOR, EURIBOR, CDOR, BBSY or bankers’ acceptance rate plus 2.50%, or the specified base rate or prime rate plus 1.50%. The credit facilities require the partnership to maintain a minimum tangible net worth and deconsolidated debt to capitalization ratio at the corporate level. At December 31, 2021, the partnership had $456 million available on its bilateral credit facilities with a maturity date of June 29, 2026. The balance drawn on the bilateral credit facility at December 31, 2021 is $1,619 million (2020: $310 million).
    The partnership has a revolving acquisition credit facility with Brookfield. During the fourth quarter of 2021, the total available amount on the credit facility was increased to $1.0 billion. The credit facility is guaranteed by the partnership, the Holding LP and certain of the partnership’s wholly-owned subsidiaries. The credit facility is available in U.S. dollars or Canadian dollars, and advances are made by way of LIBOR, base rate, bankers’ acceptance rate or prime rate loans. The credit facility bears interest at the specified LIBOR or bankers’ acceptance rate plus 3.45%, or the specified base rate or prime rate plus 2.45%. The credit facility requires the partnership to maintain a minimum deconsolidated net worth and contains restrictions on the ability of the borrowers and the guarantors to, among other things, incur liens, engage in certain mergers and consolidations or enter into speculative hedging arrangements. Net proceeds above a specified threshold that are received by the borrowers from asset dispositions, debt incurrences or equity issuances by the borrowers or their subsidiaries must be used to pay down the credit facility (which can then be redrawn to fund future investments). The facility automatically renews for consecutive one-year periods until June 26, 2026. The total available amount on the credit facility will decrease to $500 million on April 27, 2023. As at December 31, 2021, the credit facility remains undrawn.
    The partnership is currently in compliance with all covenant requirements and the partnership continues to monitor performance against such covenant requirements.
    Refer to Note 25 for further details on the Deposit Agreement with Brookfield. As at December 31, 2021, there were no funds on deposit from Brookfield (2020: $300 million).
(b)    Non-recourse subsidiary borrowings of the partnership
    Total non-recourse subsidiary borrowings of the partnership as at December 31, 2021 were $27,457 million (2020: $23,166 million).
    Some of the partnership’s businesses have credit facilities in which they borrow and repay on a short-term basis. This movement has been shown on a net basis in the partnership’s consolidated statements of cash flow.
The partnership has financing arrangements within its operating businesses that trade in public markets or are held at major financial institutions. The financing arrangements are primarily composed of term loans, credit facilities and notes and debentures which are subject to fixed or floating interest rates. Most of these borrowings are not subject to financial maintenance covenants, however, some are subject to fixed charge coverage, leverage ratios and minimum equity or liquidity covenants.
    The partnership’s operations are currently in compliance with or have obtained waivers related to all material covenant requirements and the partnership continues to work with its businesses to monitor performance against such covenant requirements.
    The weighted average interest rates and terms of non-recourse subsidiary borrowings are as follows:
Weighted average rateWeighted average term (years)Consolidated
(US$ MILLIONS, except as noted)202120202021202020212020
Business services5.7 %5.9 %5.53.7$3,872 $3,389 
Infrastructure services4.2 %4.0 %4.74.39,099 5,904 
Industrials5.3 %5.3 %5.25.714,486 13,873 
Total4.9 %5.0 %5.05.0$27,457 $23,166 
    Non-recourse borrowings in subsidiaries of the partnership by currency are as follows:
(US$ MILLIONS, except as noted)December 31,
2021		Local currencyDecember 31,
2020		Local currency
U.S. dollars$15,037 15,037 $15,305 15,305 
Euros7,569 6,672 3,466 2,820 
Brazilian reais1,638 9,138 1,475 7,667 
Australian dollars985 1,357 994 1,292 
Indian rupees760 56,728 967 70,614 
Canadian dollars1,443 1,824 923 1,175 
Other25 195 36 144 
Total$27,457 $23,166