v3.26.1
FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
 6 Months Ended
Jun. 30, 2026
Fair Value Measurement [Abstract]  
Schedule of financial assets classification
The following table provides the details of financial instruments and their associated financial instrument classifications as at June 30, 2026:
(US$ MILLIONS)
MEASUREMENT BASISFVTPLFVOCIAmortized costTotal
Financial assets
Cash and cash equivalents$— $— $3,447 $3,447 
Accounts and other receivable, net (current and non-current) (1)
— — 7,121 7,121 
Financial assets (current and non-current) (2) (3)
1,040 5,335 8,265 14,640 
Total$1,040 $5,335 $18,833 $25,208 
Financial liabilities
Accounts payable and other (current and non-current) (2) (4)
$267 $64 $6,654 $6,985 
Borrowings (current and non-current)— — 44,822 44,822 
Total$267 $64 $51,476 $51,807 
____________________________________
(1)Includes a receivable of $1,850 million related to the tax benefits at the Corporation’s advanced energy storage operation. Refer to Note 2(c)(i) for additional details.
(2)FVOCI and FVTPL include derivative assets and liabilities designated in hedge accounting relationships. Refer to Hedging activities in Note 4(a) below.
(3)FVOCI includes $490 million of units in an evergreen private equity fund managed by Brookfield Asset Management. Refer to Note 18(a)(i) for additional information.
(4)Includes derivative liabilities, and excludes provisions, decommissioning liabilities, deferred revenue, insurance contract liabilities, work in progress, post-employment benefits, other liabilities, and liabilities associated with assets held for sale of $9,216 million. Refer to Note 8 for additional information.
The following table provides the details of financial instruments and their associated financial instrument classifications as at December 31, 2025:
(US$ MILLIONS)
MEASUREMENT BASISFVTPLFVOCIAmortized costTotal
Financial assets
Cash and cash equivalents$— $— $3,546 $3,546 
Accounts and other receivable, net (current and non-current) (1)
— — 7,725 7,725 
Financial assets (current and non-current) (2) (3)
879 5,072 6,532 12,483 
Total$879 $5,072 $17,803 $23,754 
Financial liabilities
Accounts payable and other (2) (4)
$144 $57 $7,046 $7,247 
Borrowings (current and non-current)— — 43,749 43,749 
Total$144 $57 $50,795 $50,996 
____________________________________
(1)Includes a receivable of $2,412 million related to the tax benefits at the Corporation’s advanced energy storage operation. Refer to Note 2(c)(i) for additional details.
(2)FVOCI and FVTPL include derivative assets and liabilities designated in hedge accounting relationships. Refer to Hedging Activities in Note 4(a) below.
(3)FVOCI includes $584 million of units in an evergreen private equity fund managed by Brookfield Asset Management. Refer to Note 18(a)(i) for additional information.
(4)Includes derivative liabilities and excludes liabilities associated with assets held for sale, provisions, decommissioning liabilities, deferred revenues, insurance contract liabilities, work in progress, post-employment benefits and other liabilities of $6,941 million.
(US$ MILLIONS)June 30, 2026December 31, 2025
Current
Marketable securities$549 $544 
Restricted cash74 83 
Derivative assets206 95 
Loans and notes receivable366 328 
Other financial assets (1)
118 180 
Total current$1,313 $1,230 
Non-current
Marketable securities (2)
$3,472 $3,093 
Restricted cash61 68 
Derivative assets147 135 
Loans and notes receivable (3)
7,569 5,774 
Other financial assets (1)
2,078 2,183 
Total non-current$13,327 $11,253 
____________________________________
(1)Other financial assets primarily consist of asset-backed securities and high yield bonds at the Corporation’s residential mortgage insurer and convertible preferred shares held in the Corporation’s audience measurement operation.
(2)Marketable securities include $490 million (December 31, 2025: $584 million) of units in an evergreen private equity fund managed by Brookfield Asset Management. Refer to Note 18(a)(i) for additional information.
(3)Loans and notes receivable includes $6,895 million (December 31, 2025: $5,110 million) of mortgage receivables related to the Corporation’s Australian asset manager and lender.
(US$ MILLIONS)June 30, 2026December 31, 2025
Current, net$6,167 $6,550 
Non-current, net
Accounts receivable101 397 
Retainer on customer contract55 58 
Billing rights798 720 
Total non-current, net$954 $1,175 
Total (1)
$7,121 $7,725 
_________________________________
(1)Includes a receivable of $1,850 million (December 31, 2025: $2,412 million) related to tax benefits at the Corporation’s advanced energy storage operation. Refer to Note 2(c)(i) for additional information.
Schedule of financial liabilities classification
The following table provides the details of financial instruments and their associated financial instrument classifications as at June 30, 2026:
(US$ MILLIONS)
MEASUREMENT BASISFVTPLFVOCIAmortized costTotal
Financial assets
Cash and cash equivalents$— $— $3,447 $3,447 
Accounts and other receivable, net (current and non-current) (1)
— — 7,121 7,121 
Financial assets (current and non-current) (2) (3)
1,040 5,335 8,265 14,640 
Total$1,040 $5,335 $18,833 $25,208 
Financial liabilities
Accounts payable and other (current and non-current) (2) (4)
$267 $64 $6,654 $6,985 
Borrowings (current and non-current)— — 44,822 44,822 
Total$267 $64 $51,476 $51,807 
____________________________________
(1)Includes a receivable of $1,850 million related to the tax benefits at the Corporation’s advanced energy storage operation. Refer to Note 2(c)(i) for additional details.
(2)FVOCI and FVTPL include derivative assets and liabilities designated in hedge accounting relationships. Refer to Hedging activities in Note 4(a) below.
(3)FVOCI includes $490 million of units in an evergreen private equity fund managed by Brookfield Asset Management. Refer to Note 18(a)(i) for additional information.
(4)Includes derivative liabilities, and excludes provisions, decommissioning liabilities, deferred revenue, insurance contract liabilities, work in progress, post-employment benefits, other liabilities, and liabilities associated with assets held for sale of $9,216 million. Refer to Note 8 for additional information.
The following table provides the details of financial instruments and their associated financial instrument classifications as at December 31, 2025:
(US$ MILLIONS)
MEASUREMENT BASISFVTPLFVOCIAmortized costTotal
Financial assets
Cash and cash equivalents$— $— $3,546 $3,546 
Accounts and other receivable, net (current and non-current) (1)
— — 7,725 7,725 
Financial assets (current and non-current) (2) (3)
879 5,072 6,532 12,483 
Total$879 $5,072 $17,803 $23,754 
Financial liabilities
Accounts payable and other (2) (4)
$144 $57 $7,046 $7,247 
Borrowings (current and non-current)— — 43,749 43,749 
Total$144 $57 $50,795 $50,996 
____________________________________
(1)Includes a receivable of $2,412 million related to the tax benefits at the Corporation’s advanced energy storage operation. Refer to Note 2(c)(i) for additional details.
(2)FVOCI and FVTPL include derivative assets and liabilities designated in hedge accounting relationships. Refer to Hedging Activities in Note 4(a) below.
(3)FVOCI includes $584 million of units in an evergreen private equity fund managed by Brookfield Asset Management. Refer to Note 18(a)(i) for additional information.
(4)Includes derivative liabilities and excludes liabilities associated with assets held for sale, provisions, decommissioning liabilities, deferred revenues, insurance contract liabilities, work in progress, post-employment benefits and other liabilities of $6,941 million.
Schedule of carrying and fair values of financial assets
The following table categorizes financial assets and liabilities, which are carried at fair value, based upon the level of input as at June 30, 2026 and December 31, 2025:
June 30, 2026December 31, 2025
(US$ MILLIONS)Level 1Level 2Level 3Level 1Level 2Level 3
Financial assets
Common shares (1)
$31 $— $830 $32 $— $615 
Corporate and government bonds69 3,339 — 42 3,192 — 
Derivative assets— 353 — — 230 — 
Other financial assets (2)
51 649 1,053 211 666 963 
$151 $4,341 $1,883 $285 $4,088 $1,578 
Financial liabilities
Derivative liabilities$— $274 $— $— $176 $— 
Other financial liabilities32 — 25 — — 25 
$32 $274 $25 $— $176 $25 
____________________________________
(1)Level 3 common shares include $490 million (December 31, 2025: $584 million) of units in an evergreen private equity fund managed by Brookfield Asset Management. Refer to Note 18(a)(i) for additional information.
(2)Other financial assets include secured debentures, asset-backed securities and preferred shares. Level 1 other financial assets are primarily mutual funds. Level 2 other financial assets are primarily asset-backed securities and Level 3 financial assets are primarily convertible preferred securities in the Corporation’s audience measurement operation and secured debentures.
Schedule of carrying and fair values of financial liabilities
The following table categorizes financial assets and liabilities, which are carried at fair value, based upon the level of input as at June 30, 2026 and December 31, 2025:
June 30, 2026December 31, 2025
(US$ MILLIONS)Level 1Level 2Level 3Level 1Level 2Level 3
Financial assets
Common shares (1)
$31 $— $830 $32 $— $615 
Corporate and government bonds69 3,339 — 42 3,192 — 
Derivative assets— 353 — — 230 — 
Other financial assets (2)
51 649 1,053 211 666 963 
$151 $4,341 $1,883 $285 $4,088 $1,578 
Financial liabilities
Derivative liabilities$— $274 $— $— $176 $— 
Other financial liabilities32 — 25 — — 25 
$32 $274 $25 $— $176 $25 
____________________________________
(1)Level 3 common shares include $490 million (December 31, 2025: $584 million) of units in an evergreen private equity fund managed by Brookfield Asset Management. Refer to Note 18(a)(i) for additional information.
(2)Other financial assets include secured debentures, asset-backed securities and preferred shares. Level 1 other financial assets are primarily mutual funds. Level 2 other financial assets are primarily asset-backed securities and Level 3 financial assets are primarily convertible preferred securities in the Corporation’s audience measurement operation and secured debentures.
Schedule of significant unobservable inputs used and change in balance of financial assets
The following table presents the change in the balance of financial assets classified as Level 3 for the six-month period ended June 30, 2026 and the year ended December 31, 2025:
(US$ MILLIONS)June 30, 2026December 31, 2025
Balance at beginning of period$1,578 $993 
Fair value change recorded in net income127 22 
Fair value change recorded in other comprehensive income(42)197 
Additions414 761 
Disposals(184)(421)
Foreign currency translation and other(10)26 
Balance at end of period$1,883 $1,578 
The following table represents a component of the Level 3 financial asset balance, and presents the change in the balance of Level 3 equity instruments measured at fair value through other comprehensive income for the six-month period ended June 30, 2026 and the year ended December 31, 2025:
(US$ MILLIONS)June 30, 2026December 31, 2025
Balance at beginning of period$958 $203 
Fair value change recorded in other comprehensive income(42)195 
Additions354 689 
Disposals(183)(140)
Foreign currency translation and other(7)11 
Balance at end of period (1)
$1,080 $958 
____________________________________
(1)Includes $490 million (December 31, 2025: $584 million) of units in an evergreen private equity fund managed by Brookfield Asset Management. Refer to Note 18(a)(i) for additional information.