v3.26.1
UNAUDITED INTERIM CONDENSED AND 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 income (loss) $ 61 $ (309) $ 97 $ 453
Adjusted for the following items:        
Earnings from investments in associates, net of distributions received (3) (10) 20 (10)
Depreciation and amortization expense 161 153 320 348
Mark-to-market and other 65 (48) 94 (307)
Remeasurement of financial liability associated with our exchangeable shares 37 550 122 243
Deferred income tax expense (recovery) 5 8 18 (14)
Changes in non-cash working capital, net 157 134 (5) 8
Cash from operating activities 483 478 666 721
Investing Activities        
Disposal of subsidiaries, net of cash disposed 0 0 0 431
Purchase of long-lived assets (357) (209) (558) (344)
Disposal of long-lived assets 55 41 123 102
Purchase of financial assets and other (48) (35) (48) (35)
Other investing activities 15 398 15 9
Cash (used by) from investing activities (335) 195 (468) 163
Financing Activities        
Distributions to non-controlling interest (176) (196) (268) (342)
Capital provided by (to) non-controlling interest 0 (171) 46 (176)
Proceeds from non-recourse borrowings 2,055 1,667 3,520 2,019
Repayment of non-recourse borrowings (1,855) (977) (3,220) (1,764)
Loans and repayments from Brookfield Infrastructure 282 75 361 148
Loans and repayments to Brookfield Infrastructure (288) (161) (504) (269)
Exchangeable shares issued, net of costs 0 0 139 0
Other financing activities (60) 20 (30) (16)
Cash (used by) from financing activities (42) 257 44 (400)
Cash and cash equivalents        
Change during the period 106 930 242 484
Impact of foreign exchange on cash (5) 13 17 59
Balance, beginning of period 589 274 431 674
Balance, end of period $ 690 $ 1,217 $ 690 $ 1,217