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CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
$ in Millions
Total
Limited partners
Redemption-exchange units
Special limited partner units
BBUC exchangeable shares
Capital
Limited partners
Retained earnings (deficit)
Limited partners
Ownership changes
Limited partners
Accumulated other comprehensive income (loss)
Limited partners
Preferred securities
Interest of others in operating subsidiaries
Beginning balance at Dec. 31, 2022 $ 18,429 $ 1,408 $ 1,318   $ 1,378 $ 2,114 $ 97 $ (660) $ (143) [1] $ 1,490 $ 12,835
Net income (loss) 3,777 482 451   472   482     83 2,289
Other comprehensive income (loss) 288 16 15   15       16 [1]   242
Total comprehensive income (loss) 4,065 498 466   487   482   16 [1] 83 2,531
Contributions 1,561                   1,561
Distributions and capital paid [2] (5,197) (19) (17)   (18)   (19)     (833) (4,310)
Ownership changes and other [3] (321) 27 25   28   (11) 41 (3) [1]   (401)
Unit repurchases [2] (5) (5)       (5)          
Ending balance at Dec. 31, 2023 18,532 1,909 1,792 $ 0 1,875 2,109 549 (619) (130) [4] 740 12,216
Net income (loss) 895 (37) (35)   (37)   (37)     52 952
Other comprehensive income (loss) (932) (96) (91)   (95)       (96) [4]   (650)
Total comprehensive income (loss) (37) (133) (126)   (132)   (37)   (96) [4] 52 302
Contributions 198                   198
Distributions and capital paid [5] (847) (19) (17)   (18)   (19)     (52) (741)
Ownership changes and other [6] (538) (5) (5)   (4)   (2) (5) 2 [4]   (524)
Ending balance at Dec. 31, 2024 17,308 1,752 1,644 0 1,721 2,109 491 (624) (224) [4] 740 11,451
Net income (loss) 387 (26) (9) 95 (17)   (26)     52 292
Other comprehensive income (loss) 833 189 114   152       189 [4]   378
Total comprehensive income (loss) 1,220 163 105 95 135   (26)   189 [4] 52 670
Contributions 324                   324
Distributions and capital paid [5] (4,265) (22) (13) (95) (18)   (22)     (52) (4,065)
Ownership changes and other [6] 330 517 (386)   77   (30) 547     122
Unit repurchases [5] (224) (116)     (108) (116)          
Acquisition of interest [7] 618                   618
Ending balance at Dec. 31, 2025 $ 15,311 $ 2,294 $ 1,350 $ 0 $ 1,807 $ 1,993 $ 413 $ (77) $ (35) [4] $ 740 $ 9,120
[1] See Note 20 for additional information.
[2] See Note 19 for additional information on distributions and unit repurchases.
[3] Includes gains or losses on changes in ownership interests of consolidated subsidiaries.
[4] See Note 20 for additional information.
[5] See Note 19 for additional information on distributions and unit repurchases.
[6] Includes gains or losses on changes in ownership interests of consolidated subsidiaries.
[7] See Note 3 for additional information.