v3.26.1
PROPERTY, PLANT AND EQUIPMENT
 6 Months Ended
Jun. 30, 2026
Property, plant and equipment [abstract]  
PROPERTY, PLANT AND EQUIPMENT PROPERTY, PLANT AND EQUIPMENT
US$ MILLIONSGross carrying amountAccumulated depreciationAccumulated fair value adjustmentsTotal
Balance at January 1, 2025$12,297 $(1,515)$1,790 $12,572 
Additions, net of disposals(1)
1,342 11 — 1,353 
Acquisitions through business combinations(2)
90 — — 90 
Non-cash additions47 21 — 68 
Depreciation expense— (536)— (536)
Fair value adjustments— — 198 198 
Net foreign currency exchange differences390 (77)140 453 
Balance at December 31, 2025$14,166 $(2,096)$2,128 $14,198 
Additions, net of disposals384 5 — 389 
Non-cash disposals, net of additions(2)(4)— (6)
Depreciation expense— (247)— (247)
Assets reclassified as held for sale(3)
(988)283 — (705)
Net foreign currency exchange differences(97)20 (34)(111)
Balance at June 30, 2026$13,463 $(2,039)$2,094 $13,518 
1.On July 1, 2025, our global intermodal logistics operation acquired the container portfolio of Global Container International LLC (“GCI”), a container fleet operator of approximately half a million twenty-foot equivalent units, for approximately $1.1 billion which was principally comprised of approximately $0.8 billion of property, plant and equipment. The transaction did not meet IFRS 3 Business Combination criteria and was treated as an asset purchase.
2.Refer to Note 5, Acquisition of Businesses, for further details.
3.Refer to Note 3, Assets and Liabilities Classified as Held for Sale, for further details.
Our company’s property, plant, and equipment is measured at fair value on a recurring basis with an effective date of revaluation for all asset classes of December 31, 2025. Our company determined fair value under the income method or on a depreciated replacement cost basis. Assets under development were revalued where fair value could be reliably measured.