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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2024
Financial Instruments [Abstract]  
Notional amount of derivative positions
The aggregate notional amount of our company’s derivative positions at December 31, 2024 and 2023 were as follows:
As of December 31,
US$ MILLIONSNote20242023
Interest rate swaps and other(a)$2,556 $2,946 
 $2,556 $2,946 
The following table presents the change in fair values of our company’s derivative positions during the years ended December 31, 2024 and 2023:
US$ MILLIONSUnrealized Gains
During 2024		Unrealized Losses
During 2024		Net Change During 2024Net Change During 2023
Interest rate swaps and other$56 $(7)$49 $(12)
$56 $(7)$49 $(12)
Disclosure of information about terms and conditions of hedging instruments
The following table presents the notional amounts underlying our company’s derivative instruments by term to maturity as at December 31, 2024 and the comparative notional amounts at December 31, 2023. Our Company’s derivative instruments qualify for hedge accounting:
 20242023
US$ MILLIONS< 1 year1 to 5 years> 5 yearsTotal Notional
Amount		Total Notional
Amount
Interest rate swaps and other
$870 $1,436 $250 $2,556 $2,946 
$870 $1,436 $250 $2,556 $2,946 
Disclosure of derivatives elected for hedge accounting Changes in the fair value of the effective portion of the hedges are recorded in either other comprehensive income or net income, depending on the hedge classification, whereas changes in the fair value of the ineffective portion of the hedge are recorded in net income:
 20242023
AS AT AND FOR THE YEARS ENDED (US$ MILLIONS)NotionalEffective
Portion		Ineffective
Portion		NotionalEffective
Portion		Ineffective
Portion
Cash flow hedges$2,556 $1 $— $2,946 $(24)$—