v3.26.1
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
$ in Millions
Total
Non-controlling interests
Common shares
Common Share Capital
Common shares
Contributed Surplus
Common shares
Retained Earnings
Common shares
Ownership Changes1 
Common shares
Revaluation Surplus
Common shares
Currency Translation
Common shares
Other Reserves2
Common shares
Common equity
Common shares
Common equity
Asset management
Common shares
Preferred equity
Preferred shares
Preferred equity
Beginning balance (Previously stated) at Dec. 31, 2024 $ 165,383 $ 119,406 $ 10,806 $ 114 $ 17,066 $ 5,045 $ 9,584 $ (3,251) $ 2,510 $ 41,874     $ 4,103
Changes in period:                          
Net income attributable to shareholders 345       345         345      
Non-controlling interests 925 925                      
Net income 1,270                        
Other comprehensive income (loss) 845           63 771 11 845      
Other comprehensive income 1,751 1,751                      
Other comprehensive income 2,596                        
Comprehensive income, attributable to owners of parent 1,190           63 771 11 1,190      
Comprehensive income, attributable to non-controlling interests 2,676 2,676                      
Comprehensive income 3,866                        
Shareholder distributions                          
Common equity (276)       (276)         (276)      
Preferred equity (82)       (82)         (82)      
Non-controlling interests (7,830) (7,830)                      
Other items                          
Issue of equity 4,068 4,851 (26) (12) (745)         (783)      
Share-based compensation (32) 0   28 (60)         (32)      
Ownership changes (3,452) (4,054)       722 (117) (4) 1 602      
Total change in period (3,738) (4,357) (26) 16 (818) 722 (54) 767 12 619   $ 0  
Ending balance at Jun. 30, 2025 161,645 115,049 10,780 130 16,248 5,767 9,530 (2,484) 2,522 42,493   $ 4,103  
Beginning balance (Previously stated) at Dec. 31, 2025 166,194 118,308         10,553 (2,516) 2,637 43,796     4,090
Beginning balance at Dec. 31, 2025 166,194 118,308 10,839 148 16,665 5,470       43,796 $ 15,511   4,090
Changes in period:                          
Net income attributable to shareholders 466       466         466      
Non-controlling interests 1,279 1,279                      
Net income 1,745                        
Other comprehensive income (loss) (659)           (4) 160 (815) (659)      
Other comprehensive income 514 514                      
Other comprehensive income (145)                        
Comprehensive income, attributable to owners of parent (193) 1,793         (4) 160 (815) (193)      
Comprehensive income, attributable to non-controlling interests 1,793                        
Comprehensive income 1,600                        
Shareholder distributions                          
Common equity (320)       (320)         (320)      
Preferred equity (86)       (86)         (86)      
Non-controlling interests (6,007) (6,007)                      
Other items                          
Issue of equity 5,749 6,307 (64) (7) (485)         (556)     (2)
Share-based compensation 62     92 (30)         62      
Ownership changes (556) (336)       (75) (139) (3) (3) (220)      
Total change in period 442 1,757 (64) 85 (455) (75) (143) 157 (818) (1,313)     (2)
Ending balance at Jun. 30, 2026 $ 166,636 $ 120,065 $ 10,775 $ 233 $ 16,210 $ 5,395 $ 10,410 $ (2,359) $ 1,819 $ 42,483     $ 4,088