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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2025
Financial Instruments [Abstract]  
Schedule of Disclosure of detailed information about hedging instruments
The following tables summarizes the aggregate notional amounts of the partnership’s derivative positions as at December 31, 2025 and 2024:
(US$ MILLIONS, except as noted)
2025
2024
Interest rate derivatives
$
14,808 
$
13,611 
Foreign exchange contracts
4,603 
4,868 
Currency option contracts
2,933 
— 
Cross currency swaps
725 
668 
Total
$
23,069 
$
19,147 
Total current
$
10,094 
$
7,358 
Total non-current
$
12,975 
$
11,789 
Commodity instruments
2025
2024
Natural gas (MMBtu - millions)
148.83
69.08 
Lead (metric tons)
38,175 
74,193 
Tin (metric tons)
1,561 
1,908 
Polypropylene (metric tons)
41,440 
22,214 
The following table presents the notional amounts underlying the partnership’s derivative instruments by term to maturity as at December 31, 2025 and the comparative notional amounts as at December 31, 2024, for both derivatives that are classified as FVTPL and derivatives that qualify for hedge accounting:
2025
2024
(US$ MILLIONS)
< 1 Year
1-5 Years
5+ Years
Total notional amount
Total notional amount
Fair value through profit or loss
Foreign exchange contracts
$
2,234 
$
122 
$
33 
$
2,389 
$
2,147 
Cross currency swaps
24 
23 
108 
155 
176 
Interest rate derivatives
— 
— 
— 
— 
3,129 
Designated for hedge accounting
Foreign exchange contracts
991 
1,223 
— 
2,214 
2,721 
Cross currency swaps
99 
471 
— 
570 
492 
Interest rate derivatives
3,954 
9,327 
1,527 
14,808 
10,482 
Option contracts
2,792 
141 
— 
2,933 
— 
$
10,094 
$
11,307 
$
1,668 
$
23,069 
$
19,147 
Schedule of Disclosure of information about terms and conditions of hedging instruments
The following table presents the notional amounts and average exchange rates for foreign exchange contracts held by the partnership as at December 31, 2025 and 2024. The notional amounts as at December 31, 2025 and 2024 include both buy and sell contracts.
Notional amount
Average exchange rate
(US$ MILLIONS, except as noted)
2025
2024
2025
2024
Foreign exchange contracts
Canadian dollars
$
2,670 
$
2,633 
1.36
1.39 
Australian dollars
1,138 
760 
1.52
1.51 
Euros
234 
324 
0.87
0.98 
Indian rupees
190 
383 
90.08
86.98 
Brazilian reais
27 
478 
5.64
5.64 
British pounds
24 
12 
1.01
0.80 
Other
320 
278 
$
4,603 
$
4,868