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GOODWILL (Tables)
 12 Months Ended
Dec. 31, 2025
Intangible assets and goodwill [abstract]  
Schedule of reconciliation of changes in goodwill
(US$ MILLIONS)
Water and sewage concession agreements
Customer relationships
Computer software and proprietary technology
Brands and trademarks (1)
Other (1)
Total
Gross carrying amount
 
Balance at January 1, 2024
$
2,880 
$
15,091 
$
3,074 
$
3,070 
$
1,127 
$
25,242 
Additions
113 
— 
183 
10 
67 
373 
Acquisitions through business combinations
— 
9 
11 
1 
— 
21 
Dispositions
(1)
(255)
(153)
(69)
(118)
(596)
Foreign currency translation
(734)
(303)
(118)
(114)
(22)
(1,291)
Balance at December 31, 2024
$
2,258 
$
14,542 
$
2,997 
$
2,898 
$
1,054 
$
23,749 
Additions
131 
— 
154 
9 
75 
369 
Acquisitions through business combinations (2)
— 
504 
103 
199 
1 
807 
Dispositions (3)
(1)
(2)
(32)
(1)
(159)
(195)
Assets reclassified as held for sale
— 
(96)
(22)
(124)
(6)
(248)
Foreign currency translation
283 
463 
127 
168 
88 
1,129 
Balance at December 31, 2025
$
2,671 
$
15,411 
$
3,327 
$
3,149 
$
1,053 
$
25,611 
Accumulated amortization and impairment
Balance at January 1, 2024
$
(469)
$
(2,720)
$
(881)
$
(207)
$
(119)
$
(4,396)
Amortization and impairment expense
(108)
(949)
(391)
(73)
(69)
(1,590)
Dispositions
1 
141 
77 
41 
29 
289 
Foreign currency translation
123 
85 
39 
8 
10 
265 
Balances at December 31, 2024
$
(453)
$
(3,443)
$
(1,156)
$
(231)
$
(149)
$
(5,432)
Amortization and impairment expense
(109)
(1,004)
(386)
(62)
(47)
(1,608)
Dispositions (3)
1 
— 
27 
1 
79 
108 
Assets reclassified as held for sale
— 
34 
17 
47 
4 
102 
Foreign currency translation
(57)
(130)
(56)
(14)
(11)
(268)
Balance at December 31, 2025
$
(618)
$
(4,543)
$
(1,554)
$
(259)
$
(124)
$
(7,098)
Net book value
December 31, 2024
$
1,805 
$
11,099 
$
1,841 
$
2,667 
$
905 
$
18,317 
December 31, 2025
$
2,053 
$
10,868 
$
1,773 
$
2,890 
$
929 
$
18,513 
____________________________________
(1)Brands and trademarks include indefinite life intangible assets with a carrying value of $2,401 million (2024: $2,071 million) primarily in the partnership’s infrastructure services and industrials segments. Other includes indefinite life intangible assets with a carrying value of $331 million (2024: $307 million) associated with the partnership’s contractual rights to manage certain perpetual open-ended investment funds within the partnership’s Australian asset manager and lender.
(2)See Note 3 for additional information.
(3)Includes the deconsolidation of the partnership’s healthcare services operation. See Note 17(b)(i) for additional information.
(US$ MILLIONS)
2025
2024
Balance at beginning of year
$
12,239 
$
14,129 
Acquisitions through business combinations (1)
736 
50 
Impairment (2)
(85)
(793)
Dispositions (3)
(157)
(638)
Assets reclassified as held for sale
— 
14 
Foreign currency translation
577 
(523)
Balance at end of year
$
13,310 
$
12,239 
____________________________________
(1)See Note 3 for additional information.
(2)Includes a goodwill impairment of $71 million at the partnership’s solar power solutions for the year ended December 31, 2025 (2024: $661 million at the partnership’s healthcare services).
(3)See Note 8 and Note 14 for additional information.
Schedule of goodwill allocated by segments
Goodwill, net of accumulated impairment losses, is allocated to the following cash-generating units as at December 31, 2025 and 2024:
(US$ MILLIONS)
2025
2024
Dealer software and technology services operation
$
4,448 
$
4,448 
Modular building leasing services
1,961 
1,797 
Engineered components manufacturing operation
1,884 
1,785 
Advanced energy storage operation
1,845 
1,639 
Lottery services operation
1,237 
1,192 
Electric heat tracing systems manufacturer
680 
— 
Other operations
1,255 
1,378 
Total
$
13,310 
$
12,239