v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Operating activities        
Net (loss) income $ (287) $ 100 $ (582) $ (8)
Adjustments for the following non-cash items:        
Depreciation 558 609 1,106 1,192
Unrealized foreign exchange and financial instruments gain (15) (301) (233) (489)
Share of (earnings) losses from equity-accounted investments (45) 57 (66) 73
Deferred income tax expense (recovery) 41 (181) (6) (226)
Other non-cash items 154 104 341 175
Dividends received from equity-accounted investments 41 27 128 64
Cash flows from (used in) operations before changes in working capital 447 415 688 781
Changes in due to or from related parties 74 142 79 186
Net change in working capital balances 5 (178) (90) (201)
Cash flows from (used in) operating activities 526 379 677 766
Financing activities        
Proceeds from borrowings 0 184 359 491
Repayment of corporate borrowings 0 (291) 0 (291)
Corporate credit facilities, net (147) 169 53 (71)
Commercial paper, net 278 231 907 435
Proceeds from non-recourse borrowings 4,665 3,885 7,382 7,127
Repayment of non-recourse borrowings (4,388) (3,061) (5,946) (5,266)
Capital contributions from participating non-controlling interests – in operating subsidiaries 678 1,357 2,859 1,829
Capital repaid to participating non-controlling interests – in operating subsidiaries (143) (358) (492) (462)
Issuance of equity instruments and related costs, net 8 (7) 36 (34)
Issuance of preferred equity instruments and related costs, net 141 0 13 0
Distributions paid:        
To participating non-controlling interests – in operating subsidiaries, preferred shareholders, preferred limited partners unitholders, and perpetual subordinate notes (660) (568) (1,093) (811)
To unitholders of Brookfield Renewable or BRELP and shareholders of Brookfield Renewable Corporation (306) (281) (621) (564)
Inflows from related parties 284 3,336 897 5,470
Outflows to related parties (517) (2,038) (3,691) (3,105)
Cash flows from (used in) financing activities (107) 2,558 663 4,748
Investing activities        
Acquisitions, net of cash and cash equivalents, in acquired entity 0 (1,686) 0 (4,429)
Investment in property, plant and equipment (1,326) (1,478) (2,584) (3,024)
Investment in equity-accounted investments (50) (29) (68) (56)
Proceeds from disposal of assets, net of cash and cash equivalents disposed   (6)    
Proceeds from disposal of assets, net of cash and cash equivalents disposed 780   1,433 530
Purchases of financial assets (15) (30) (35) (97)
Proceeds from financial assets 1 331 2 346
Restricted cash and other 67 (168) (149) (127)
Cash flows from (used in) investing activities (543) (3,066) (1,401) (6,857)
Cash and cash equivalents        
Decrease (124) (129) (61) (1,343)
Foreign exchange gain on cash 3 65 0 121
Balance, beginning of period 2,124 1,955 2,093 3,135
Balance, end of period 1,971 1,907 1,971 1,907
Supplemental cash flow information:        
Net change in cash classified within assets held for sale (32) 16 (61) (6)
Interest paid 647 640 1,180 1,164
Interest received 50 35 75 53
Income taxes paid $ 128 $ 38 $ 162 $ 63