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ACCOUNTS PAYABLE AND OTHER
 12 Months Ended
Dec. 31, 2025
Subclassifications of assets, liabilities and equities [abstract]  
ACCOUNTS PAYABLE AND OTHER ACCOUNTS PAYABLE AND OTHER
(US$ MILLIONS)
2025
2024
Current
 
 
Accounts payable
$
3,456 
$
3,250 
Accrued and other liabilities (1) (2)
2,683 
3,405 
Lease liabilities
213 
199 
Financial liabilities
163 
371 
Insurance liabilities
443 
398 
Work in progress (3)
359 
382 
Provisions and decommissioning liabilities (4)
303 
835 
Liabilities associated with assets held for sale (5)
10 
1,710 
Total current (6)
$
7,630 
$
10,550 
Non-current
 
 
Accounts payable
$
110 
$
87 
Accrued and other liabilities (2)
3,536 
1,973 
Lease liabilities
611 
729 
Financial liabilities
127 
1,321 
Insurance liabilities
1,669 
1,427 
Work in progress (3)
33 
36 
Provisions and decommissioning liabilities (4)
472 
568 
Total non-current (6)
$
6,558 
$
6,141 
____________________________________
(1)Includes bank overdrafts of $nil as at December 31, 2025 (2024: $19 million).
(2)Includes post-employment benefits of $194 million ($8 million current and $186 million non-current) as at December 31, 2025 and $204 million ($6 million current and $198 million non-current) as at December 31, 2024.
(3)See Note 16 for additional information.
(4)Includes decommissioning liabilities of $216 million (2024: $158 million) primarily from the partnership’s natural gas production and advanced energy storage operation. The liabilities were determined using a discount rate between 3.5% and 8.3% (2024: 3.5% and 8.5%) and an inflation rate between 2.0% and 2.3% (2024: 2.0% and 2.3%), determined as appropriate for the underlying assets.
(5)Liabilities associated with assets held for sale as at December 31, 2024 included the partnership’s offshore oil services’ shuttle tanker operation, which was disposed in January 2025. See Note 8 for additional information.
(6)Reflects the deconsolidation of the partnership’s healthcare services operation. See Note 17(b)(i) for additional information.
Included within accounts payable and other at December 31, 2025 was $824 million of lease liabilities (2024: $928 million). Interest expense on lease liabilities was $50 million for the year ended December 31, 2025 (2024: $63 million).
The partnership’s exposure to currency and liquidity risk related to accounts payable and other is disclosed in Note 27.
The following table presents the change in the provision balances for the years ended December 31, 2025 and 2024 :
(US$ MILLIONS)
Decommissioning liability
Warranties and provisions for defects
Legal and other
Total provisions
Balance at January 1, 2024
$
170 
$
209 
$
785 
$
1,164 
Additional provisions recognized
— 
311 
592 
903 
Reduction arising from payments/derecognition
(11)
(326)
(270)
(607)
Accretion expenses
5 
— 
— 
5 
Change in discount rate
10 
— 
— 
10 
Change in other estimates
(4)
(1)
— 
(5)
Transfers to held for sale
(4)
— 
(1)
(5)
Foreign currency translation
(8)
(8)
(46)
(62)
Balance at December 31, 2024
$
158 
$
185 
$
1,060 
$
1,403 
Additional provisions recognized
50 
341 
170 
561 
Reduction arising from payments/derecognition
(4)
(326)
(608)
(938)
Accretion expenses
10 
— 
5 
15 
Change in other estimates
(5)
2 
— 
(3)
Dispositions/transfers to held for sale
— 
(1)
(302)
(303)
Foreign currency translation
7 
10 
23 
40 
Balance at December 31, 2025
$
216 
$
211 
$
348 
$
775