v3.26.1
NON-CONTROLLING INTEREST
 6 Months Ended
Jun. 30, 2026
Noncontrolling Interest [Abstract]  
NON-CONTROLLING INTEREST
13.    NON-CONTROLLING INTEREST
Non-Controlling Interests in Consolidated Entities
Net income (loss) generated by the respective subsidiaries is allocated to non-controlling interest in consolidated entities based on the substantive contractual terms of the subsidiaries’ governing agreements that specify the allocation of income or loss. The majority of income attributable to non-controlling interest is comprised of BN's 33.3% share of carried interest revenue generated on new funds.
The movement in the carrying value of non-controlling interest is as follows:
Three Months EndedSix Months Ended
AS OF AND FOR THE PERIODS ENDED JUNE 30,
(MILLIONS)
2026202520262025
Balance, beginning$878 $467 $773 $336 
Net income201 54 270 102 
Contributions— 9 41 62 
2025 Arrangement— — — 31 
Distributions— (6)(5)(7)
Balance, ending$1,079 $524 $1,079 $524 
Non-Controlling Interests in Consolidated Funds
The following table sets forth a summary of changes in the non-controlling interests in consolidated funds.
Three Months EndedSix Months Ended
AS OF AND FOR THE PERIODS ENDED JUNE 30,
(MILLIONS)
2026202520262025
Balance, beginning$116 $7 $21 $— 
Net (loss) income21 9 16 14 
Contributions459 161 559 163 
Balance, ending$596 $177 $596 $177 
Contributions of $459 million and $559 million for the three and six months ended June 30, 2026, respectively, include non-controlling interests of the Spring Education co-investment holding entities that were consolidated during the period as disclosed in Note 3 “Investments”.