Brookfield Asset Management (BAM) 40-F23 Mar 212020 FY Annual report (Canada)Financial data

Company Profile

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION	12 Months Ended
DOCUMENT AND ENTITY INFORMATION	Dec. 31, 2020shares
Document Information [Line Items]
Entity Registrant Name	BROOKFIELD ASSET MANAGEMENT INC.
Entity Central Index Key	0001001085
Current Fiscal Year End Date	--12-31
Document Type	40-F
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Emerging Growth Company	false
Class A Limited Voting Shares [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)	1,510,635,291
Class B Limited Voting Shares [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)	85,120

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents	$ 9,933	$ 6,778
Other financial assets	17,730	12,468
Accounts receivable and other	18,928	18,469
Inventory	10,360	10,272
Assets classified as held for sale	5,917	3,502
Equity accounted investments	41,327	40,698
Investment properties	96,782	96,686
Property, plant and equipment	100,009	89,264
Intangible assets	24,658	27,710
Goodwill	14,714	14,550
Deferred income tax assets	3,338	3,572
Total assets	343,696	323,969
Financial liabilities	193,217	184,231
Liabilities and Equity
Accounts payable and other	50,682	43,077
Liabilities associated with assets classified as held for sale	2,359	1,690
Non-recourse borrowings of managed entities	139,324	136,292
Corporate borrowings	9,077	7,083
Property-specific borrowings	128,556	127,869
Subsidiary borrowings	10,768	8,423
Deferred income tax liabilities	15,913	14,849
Subsidiary equity obligations	3,699	4,132
Equity [abstract]
Equity	122,642	116,846
Total liabilities and equity	343,696	323,969
Corporate borrowings
Assets
Financial liabilities	9,077	7,083
Subsidiary equity obligations
Assets
Financial liabilities	3,699	4,132
Non-controlling interests
Equity [abstract]
Equity	86,804	81,833
Preferred shares \| Preferred equity
Equity [abstract]
Equity	4,145	4,145
Preferred shares \| Non-controlling interests
Equity [abstract]
Equity	5,889	5,276
Common shares \| Non-controlling interests
Equity [abstract]
Equity	80,915	76,557
Common shares \| Common equity
Equity [abstract]
Equity	$ 31,693	$ 30,868

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Profit or loss [abstract]
Revenue	$ 62,752	$ 67,826
Direct costs	47,386	52,728
Other income and gains	785	1,285
Equity accounted (loss) income	(79)
Expenses
Interest	(7,213)	(7,227)
Corporate costs	(101)	(98)
Fair value changes	(1,423)	(831)
Depreciation and amortization	(5,791)	(4,876)
Tax expense (income)	(837)	(495)
Net income	707	5,354
Net (loss) income attributable to:
Shareholders	(134)	2,807
Non-controlling interests	841	2,547
Net income	$ 707	$ 5,354
Net (loss) income per share:
Diluted	$ (0.12)	$ 1.73
Basic	$ (0.12)	$ 1.78

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Statement of comprehensive income [abstract]
Revenue	$ 62,752	$ 67,826
Net income	707	5,354
Items that may be reclassified to net income
Financial contracts and power sale agreements	(218)	(52)
Marketable securities	285	75
Equity accounted investments	(82)	(37)
Foreign currency translation	(1,294)	(403)
Income taxes	(38)	(15)
Other comprehensive income that may be reclassified to net income	(1,347)	(432)
Items that will not be reclassified to net income
Revaluations of property, plant and equipment	4,794	3,328
Revaluation of pension obligations	(298)	(149)
Equity accounted investments	36	354
Marketable securities	316	299
Income taxes	(1,188)	(688)
Other comprehensive income that will not be reclassified to net income	3,660	3,144
Other comprehensive income	2,313	2,712
Comprehensive income	3,020	8,066
Attributable to:
Net income attributable to shareholders	(134)	2,807
Other comprehensive income	818	524
Comprehensive income	684	3,331
Net income	841	2,547
Comprehensive income	2,336	4,735
Direct costs	47,386	52,728
Other income and gains	785	1,285
Consolidated equity accounted income (loss)	(79)
Interest expense	7,213	7,227
Corporate Costs	101	98
Fair value changes	(1,423)	(831)
Depreciation and amortisation expense	5,791	4,876
Tax expense (income)	$ 837	$ 495
Diluted	$ (0.12)	$ 1.73
Basic	$ (0.12)	$ 1.78

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Millions	Total	Retained Earnings	Non-controlling interests	Common sharesCommon Share Capital	Common sharesContributed Surplus	Common sharesRetained Earnings	Common sharesOwnership Changes1	Common sharesRevaluation Surplus	Common sharesCurrency Translation	Common sharesOther Reserves2	Common sharesCommon equity	Common sharesNon-controlling interests	Preferred sharesPreferred equity	Preferred sharesNon-controlling interests
Other items
Equity \| Previously stated	$ 97,150		$ 67,335	$ 4,457	$ 271	$ 14,244	$ 645	$ 7,556	$ (1,833)	$ 307	$ 25,647		$ 4,168
Beginning balance (Previously stated) at Dec. 31, 2018	97,150		67,335	4,457	271	14,244	645	7,556	(1,833)	307	25,647		4,168
Changes in period:
Net income attributable to shareholders	2,807	$ 2,807									2,807
Non-controlling interests	2,547		2,547
Net income	5,354
Other comprehensive income	2,712
Other comprehensive income			2,188
Other comprehensive income	524							591	(190)	123	524
Comprehensive income	8,066
Comprehensive income, attributable to non-controlling interests	4,735		4,735
Comprehensive income, attributable to owners of parent	3,331	2,807						591	(190)	123	3,331
Dividends recognised as distributions to non-controlling interests	8,568		8,568
Dividends recognised as distributions to owners	620					620					620
Shareholder distributions
Preferred equity	(152)					(152)					(152)
Non-controlling interests	(8,568)		(8,568)
Other items
Issue of equity	19,090		16,636	2,848	(40)	(331)					2,477		(23)
Share-based compensation	(13)				55	(68)					(13)
Ownership changes	1,893		1,695			146	365	(271)	6	(48)	198
Total change in period	19,696		14,498	2,848	15	1,782	365	320	(184)	75	5,221		(23)
Ending balance (Previously stated) at Dec. 31, 2019	116,846		81,833	7,305	286	16,026	1,010	7,876	(2,017)	382	30,868		4,145
Ending balance at Dec. 31, 2019	116,846		81,833	7,305	286	16,026	1,010	7,876	(2,017)	382	30,868	$ 76,557	4,145	$ 5,276
Other items
Shareholders	2,807	2,807									2,807
Common equity	(620)					(620)					(620)
Net income	5,354
Shareholders	2,807	2,807									2,807
Non-controlling interests	2,547		2,547
Other comprehensive income	524							591	(190)	123	524
Other comprehensive income	2,712
Other comprehensive income			2,188
Dividends paid, other shares	152					152					152
Dividends recognised as distributions to owners	620					620					620
Dividends recognised as distributions to non-controlling interests	8,568		8,568
Issue of equity	19,090		16,636	2,848	(40)	(331)					2,477		(23)
Share-based compensation	(13)				55	(68)					(13)
Ownership changes	1,893		1,695			146	365	(271)	6	(48)	198
Increase (decrease) in equity	19,696		14,498	2,848	15	1,782	365	320	(184)	75	5,221		(23)
Equity \| Previously stated	97,150		67,335	4,457	286	16,026	645	7,556	(1,833)	307	25,647		4,168
Equity	116,846		81,833	7,305	286	16,026	1,010	7,876	(2,017)	382	30,868	76,557	4,145	5,276
Equity \| Previously stated	116,846		81,833	7,305	286	16,026	1,010	7,876	(2,017)	382	30,868		4,145
Equity	116,846		81,833	7,305	286	16,026	1,010	7,876	(2,017)	382	30,868	76,557	4,145	5,276
Net income attributable to shareholders	(134)	(134)									(134)
Non-controlling interests	841		841
Net income	707
Other comprehensive income	2,313
Other comprehensive income			1,495
Other comprehensive income	818							1,005	(332)	145	818
Comprehensive income	3,020
Comprehensive income, attributable to non-controlling interests	2,336		2,336
Comprehensive income, attributable to owners of parent	684	(134)						1,005	(332)	145	684
Dividends recognised as distributions to non-controlling interests	6,493
Dividends recognised as distributions to owners	726					726					726
Preferred equity	(141)					(141)					(141)
Non-controlling interests	(6,493)
Issue of equity	12,449		12,719	63	(60)	(273)					(270)
Share-based compensation	36				59	(23)					36
Ownership changes	(2,349)		(3,591)			449	1,681	(1,351)	216	247	1,242
Total change in period	5,796		4,971	63	(1)	(848)	1,681	(346)	(116)	392	825		0
Ending balance at Dec. 31, 2020	122,642		86,804	7,368	285	15,178	2,691	7,530	(2,133)	774	31,693	80,915	4,145	5,889
Other items
Shareholders	(134)	(134)									(134)
Common equity	(726)					(726)					(726)
Net income	707
Shareholders	(134)	$ (134)									(134)
Non-controlling interests	841		841
Other comprehensive income	818							1,005	(332)	145	818
Other comprehensive income	2,313
Other comprehensive income			1,495
Dividends paid, other shares	141					141					141
Dividends recognised as distributions to owners	726					726					726
Dividends recognised as distributions to non-controlling interests	6,493
Issue of equity	12,449		12,719	63	(60)	(273)					(270)
Share-based compensation	36				59	(23)					36
Ownership changes	(2,349)		(3,591)			449	1,681	(1,351)	216	247	1,242
Increase (decrease) in equity	5,796		4,971	63	(1)	(848)	1,681	(346)	(116)	392	825		0
Equity \| Previously stated	116,846		81,833	7,305	286	16,026	1,010	7,876	(2,017)	382	30,868		4,145
Equity	122,642		81,833	7,305	286	15,178	1,010	7,876	(2,017)	382	31,693	76,557	4,145	5,276
Equity	$ 122,642		$ 86,804	$ 7,368	$ 285	$ 15,178	$ 2,691	$ 7,530	$ (2,133)	$ 774	$ 31,693	$ 80,915	$ 4,145	$ 5,889

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Operating activities
Net income	$ 707	$ 5,354
Other income and gains	(785)	(1,285)
Share of undistributed equity accounted earnings	1,347	(1,654)
Fair value changes	1,423	831
Depreciation and amortization	5,791	4,876
Deferred income taxes	81	(475)
Investments in residential inventory	51	(319)
Net change in non-cash working capital balances	(274)	(1,000)
Cash flows from (used in) operating activities	8,341	6,328
Financing activities
Corporate borrowings arranged	2,216	992
Corporate borrowings repaid	(251)	(450)
Non-recourse borrowings arranged	37,594	64,576
Non-recourse borrowings repaid	(33,496)	(42,215)
Non-recourse credit facilities, net	(1,705)	(926)
Subsidiary equity obligations issued	231	212
Subsidiary equity obligations redeemed	(246)	(45)
Capital provided from non-controlling interests	16,312	19,447
Capital repaid to non-controlling interests	(3,593)	(2,811)
Repayment of lease liability	(602)	(424)
Distributions to non-controlling interests	(6,493)	(8,568)
Distributions to shareholders	(867)	(772)
Cash flows from (used in) financing activities	8,698	28,746
Acquisitions
Investment properties	(5,111)	(6,921)
Property, plant and equipment	(4,012)	(3,053)
Equity accounted investments	(3,733)	(5,534)
Financial assets and other	(25,536)	(10,830)
Acquisition of subsidiaries	(3,453)	(31,088)
Dispositions
Investment properties	2,266	5,239
Property, plant and equipment	125	140
Equity accounted investments	215	1,725
Financial assets and other	22,557	10,850
Disposition of subsidiaries	3,415	2,336
Restricted cash and deposits	(606)	462
Cash flows from (used in) investing activities	(13,873)	(36,674)
Cash and cash equivalents
Change in cash and cash equivalents	3,166	(1,600)
Net change in cash classified within assets held for sale	23	(7)
Foreign exchange revaluation	(34)	(5)
Balance, beginning of year	6,778	8,390
Balance, end of year	9,933	6,778
Supplemental Cash Flow Information [Abstract]
Income taxes paid	1,101	504
Interest paid	6,583	6,323
Preferred shares
Financing activities
Equity redeemed	0	(16)
Common shares
Financing activities
Equity issued	17	13
Equity redeemed	$ (419)	$ (267)

CORPORATE INFORMATION

CORPORATE INFORMATION	12 Months Ended
CORPORATE INFORMATION	Dec. 31, 2020
Management Commentary Explanatory [Abstract]
CORPORATE INFORMATION	ORGANIZATION AND CAPITAL MANAGEMENT Organization Brookfield Asset Management Inc. (the “Corporation”) is a global alternative asset management company. References in these financial statements to “Brookfield,” “us,” “we,” “our” or “the company” refer to the Corporation and its direct and indirect subsidiaries and consolidated entities. The company owns and operates assets with a focus on real estate, renewable power, infrastructure, private equity and credit. The Corporation is listed on the New York and Toronto stock exchanges under the symbols BAM and BAM.A, respectively. The Corporation was formed by articles of amalgamation under the Business Corporations Act (Ontario) and is registered in Ontario, Canada. The registered office of the Corporation is Brookfield Place, 181 Bay Street, Suite 300, Toronto, Ontario, M5J 2T3. Capital Management The company utilizes the Corporation’s Capital to manage the business in a number of ways, including operating performance, value creation, credit metrics and capital efficiency. The performance of the Corporation’s Capital is closely tracked and monitored by the company’s key management personnel and evaluated relative to management’s objectives. The primary goal of the company is to earn a 12-15% return compounded over the long-term while always maintaining excess capital to support ongoing operations. The Corporation’s Capital consists of the capital invested in its asset management activities, including investments in entities that it manages, its corporate investments that are held outside of managed entities and its net working capital. The Corporation’s Capital is funded with common equity, preferred equity and corporate borrowings issued by the Corporation. As at December 31, 2020, the Corporation’s Capital totaled $45.1 billion (2019 – $42.1 billion), and is computed as follows: AS AT DEC. 31 2020 2019 Cash and cash equivalents $ 1,283 $ 807 Other financial assets 3,809 2,722 Common equity in managed investments 33,732 33,839 Other assets and liabilities of the Corporation 6,321 4,728 Corporation’s Capital $ 45,145 $ 42,096 Corporation’s Capital is comprised of the following: Common equity $ 31,693 $ 30,868 Preferred shares 4,145 4,145 Non-controlling interest 230 — Corporate borrowings 9,077 7,083 $ 45,145 $ 42,096 The Corporation generates returns on its capital through management fees and performance revenues earned as an asset manager, as well as distributions or dividends earned from its capital invested in managed entities, and through performance of the Corporation’s financial asset investments. Prudent levels of corporate borrowings and preferred equity are utilized to enhance returns to shareholders’ common equity. A reconciliation of the Corporation’s Capital to the company’s consolidated balance sheet as at December 31, 2020 is as follows: AS AT DEC. 31, 2020 The Corporation Managed Investments Elimination Total Consolidated Cash and cash equivalents $ 1,283 $ 8,650 $ — $ 9,933 Other financial assets 3,809 13,921 — 17,730 Accounts receivable and other 1 3,632 17,401 (2,105) 18,928 Inventory 2 10,358 — 10,360 Assets classified as held for sale — 5,917 — 5,917 Equity accounted investments 5,361 35,966 — 41,327 Investment properties 17 96,765 — 96,782 Property, plant and equipment 122 99,887 — 100,009 Intangible assets 285 24,373 — 24,658 Goodwill 368 14,346 — 14,714 Deferred income tax assets 2,159 1,179 — 3,338 Accounts payable and other 1 (5,134) (47,653) 2,105 (50,682) Liabilities associated with assets classified as held for sale — (2,359) — (2,359) Deferred income tax liabilities (414) (15,499) — (15,913) Subsidiary equity obligations (77) (3,622) — (3,699) Total 11,413 259,630 — 271,043 Common equity in managed investments 2 33,732 — (33,732) — Corporation’s Capital 45,145 259,630 (33,732) 271,043 Less: Corporate borrowings 9,077 — — 9,077 Non-recourse borrowings of managed entities — 139,324 — 139,324 Amounts attributable to preferred equity 4,145 — — 4,145 Amounts attributable to non-controlling interests 230 86,574 — 86,804 Common equity $ 31,693 $ 33,732 $ (33,732) $ 31,693 1. Contains the gross up of intercompany balances, including accounts receivable and other, and accounts payable and other of $2.1 billion and $2.1 billion respectively, between entities within the Corporation and its managed investments. 2. Represents the value of the Corporation’s managed investments. Common equity in managed investments is a measure routinely evaluated by our company’s key management personnel and represents the net equity in our consolidated financial statements outside of our corporate and asset management segments, excluding non-controlling interests. This measure is equal to the sum of the common equity in our real estate, infrastructure, renewable power, private equity and residential operating segments. A reconciliation of the Corporation’s Capital to the company’s consolidated balance sheet as at December 31, 2019 is as follows: AS AT DEC. 31, 2019 The Corporation Managed Investments Elimination Total Consolidated Cash and cash equivalents $ 807 $ 5,971 $ — $ 6,778 Other financial assets 2,722 9,746 — 12,468 Accounts receivable and other 1 1,629 17,002 (162) 18,469 Inventory — 10,272 — 10,272 Assets classified as held for sale — 3,502 — 3,502 Equity accounted investments 5,281 35,417 — 40,698 Investment properties — 96,686 — 96,686 Property, plant and equipment 79 89,185 — 89,264 Intangible assets 124 27,586 — 27,710 Goodwill 328 14,222 — 14,550 Deferred income tax assets 2,477 1,095 — 3,572 Accounts payable and other 1 (4,870) (38,369) 162 (43,077) Liabilities associated with assets classified as held for sale — (1,690) — (1,690) Deferred income tax liabilities (279) (14,570) — (14,849) Subsidiary equity obligations (41) (4,091) — (4,132) Total 8,257 251,964 — 260,221 Common equity in managed investments 2 33,839 — (33,839) — Corporation’s Capital 42,096 251,964 (33,839) 260,221 Less: Corporate borrowings 7,083 — — 7,083 Non-recourse borrowings of managed entities — 136,292 — 136,292 Amounts attributable to preferred equity 4,145 — — 4,145 Amounts attributable to non-controlling interests — 81,833 — 81,833 Common equity $ 30,868 $ 33,839 $ (33,839) $ 30,868 1. Contains the gross up of intercompany balances, including accounts receivable and other, and accounts payable and other of $162 million and $162 million respectively, between entities within the Corporation and its managed investments.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
SIGNIFICANT ACCOUNTING POLICIES	Dec. 31, 2020
Disclosure of Significant Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES a) Statement of Compliance These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). These consolidated financial statements were authorized for issuance by the Board of Directors of the company on March 23, 2021. b) Future Changes in Accounting Standards i. Insurance Contracts In May 2017, the IASB published IFRS 17, Insurance Contracts (“IFRS 17”), which establishes principles for the recognition, measurement, presentation and disclosure of insurance contracts. IFRS 17 will replace IFRS 4, Insurance Contracts , and will be applied retrospectively. In June 2020, the IASB proposed an amendment to IFRS 17 providing a one-year deferral on the effective date of the standard to January 1, 2023. IFRS 17 requires insurance contract liabilities to be measured at a current fulfillment value and provides a more uniform measurement and presentation approach for all insurance contracts. The company is currently assessing the impact of IFRS 17 on its operations. ii. Interest Rate Benchmark Reform On August 27, 2020, the IASB published Interest Rate Benchmark Reform – Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 (“Phase II Amendments”), effective January 1, 2021, with early adoption permitted. The Phase II Amendments provide additional guidance to address issues that will arise during the transition of benchmark interest rates. The Phase II Amendments primarily relate to the modification of financial assets, financial liabilities and lease liabilities where the basis for determining the contractual cash flows changes as a result of IBOR reform, allowing for prospective application of the applicable benchmark interest rate and to the application of hedge accounting, providing an exception such that changes in the formal designation and documentation of hedge accounting relationships that are needed to reflect the changes required by IBOR reform do not result in the discontinuation of hedge accounting or the designation of new hedging relationships. The company is progressing through its assessment and the transition plan to address the impact and effect changes as a result of amendments to the contractual terms of IBOR referenced floating-rate borrowings, interest rate swaps, interest rate caps, and updating hedge designations. The adoption is not expected to have a significant impact on our company’s financial reporting. c) Basis of Presentation The consolidated financial statements are prepared on a going concern basis. i. Subsidiaries The consolidated financial statements include the accounts of the company and its subsidiaries, which are the entities over which the company exercises control. Control exists when the company is able to exercise power over the investee, is exposed to variable returns from its involvement with the investee and has the ability to use its power over the investee to affect the amount of its returns. Subsidiaries are consolidated from the date control is obtained and continue to be consolidated until the date when control is lost. The company includes 100% of its subsidiaries’ revenues and expenses in the Consolidated Statements of Operations and 100% of its subsidiaries’ assets and liabilities on the Consolidated Balance Sheets, with non-controlling interests in the equity of the company’s subsidiaries included within the company’s equity. All intercompany balances, transactions, unrealized gains and losses are eliminated in full. The company continually reassesses whether or not it controls an investee, particularly if facts and circumstances indicate there is a change to one or more of the control criteria previously mentioned. In certain circumstances when the company has less than a majority of the voting rights of an investee, it has power over the investee when the voting rights are sufficient to give it the practical ability to direct the relevant activities of the investee unilaterally. The company considers all relevant facts and circumstances in assessing whether or not the company’s voting rights are sufficient to give it control of an investee. Certain of the company’s subsidiaries are subject to profit sharing arrangements, such as carried interest, between the company and the non-controlling equity holders, whereby the company is entitled to a participation in profits, as determined under the agreements. The attribution of net income amongst equity holders in these subsidiaries reflects the impact of these profit sharing arrangements when the attribution of profits as determined in the agreement is no longer subject to adjustment based on future events and correspondingly reduces non-controlling interests ’ attributable share of those profits. Gains or losses resulting from changes in the company’s ownership interest of a subsidiary that do not result in a loss of control are accounted for as equity transactions and are recorded within ownership changes as a component of equity. When we dispose of all or part of a subsidiary resulting in a loss of control, the difference between the carrying value of what is sold and the proceeds from disposition is recognized within other income and gains in the Consolidated Statements of Operations. Refer to Note 2(q) for an explanation of the company’s accounting policy for business combinations and to Note 4 for additional information on subsidiaries of the company with significant non-controlling interests. ii. Associates and Joint Ventures Associates are entities over which the company exercises significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the investee but without control or joint control over those policies. Joint ventures are joint arrangements whereby the parties that have joint control of the arrangement have the rights to the net assets of the joint arrangement. Joint control is the contractually agreed sharing of control over an arrangement, which exists only when decisions about the relevant activities require unanimous consent of the parties sharing control. The company accounts for associates and joint ventures using the equity method of accounting within equity accounted investments on the Consolidated Balance Sheets. Interests in associates and joint ventures accounted for using the equity method are initially recognized at cost. At the time of initial recognition, if the cost of the associate or joint venture is lower than the proportionate share of the investment’s underlying fair value, the company records a gain on the difference between the cost and the underlying fair value of the investment in net income. If the cost of the associate or joint venture is greater than the company’s proportionate share of the underlying fair value, goodwill relating to the associate or joint venture is included in the carrying amount of the investment. Subsequent to initial recognition, the carrying value of the company’s interest in an associate or joint venture is adjusted for the company’s share of comprehensive income and distributions of the investee. Profit and losses resulting from transactions with an associate or joint venture are recognized in the consolidated financial statements based on the interests of unrelated investors in the investee. The carrying value of associates or joint ventures is assessed for indicators of impairment at each balance sheet date. Impairment losses on equity accounted investments may be subsequently reversed in net income. Further information on the impairment of long-lived assets is available in Note 2(l). iii. Joint Operations A joint operation is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the assets, and obligations for the liabilities, related to the arrangement. Joint control is the contractually agreed sharing of control of an arrangement which exists only when decisions about the relevant activities require unanimous consent of parties sharing control. The company recognizes only its assets, liabilities and share of the results of operations of the joint operation. The assets, liabilities and results of joint operations are included within the respective line items of the Consolidated Balance Sheets, Consolidated Statements of Operations and Consolidated Statements of Comprehensive Income. d) Foreign Currency Translation The U.S. dollar is the functional and presentation currency of the company. Each of the company’s subsidiaries, associates, joint ventures and joint operations determines its own functional currency and items included in the consolidated financial statements of each subsidiary, associate, joint venture and joint operation are measured using that functional currency. Assets and liabilities of foreign operations having a functional currency other than the U.S. dollar are translated at the rate of exchange prevailing at the reporting date and revenues and expenses at average rates during the period. Gains or losses on translation are accumulated as a component of equity. On the disposal of a foreign operation, or the loss of control, joint control or significant influence, the component of accumulated other comprehensive income relating to that foreign operation is reclassified to net income. Gains or losses on foreign currency denominated balances and transactions that are designated as hedges of net investments in these operations are reported in the same manner. Foreign currency denominated monetary assets and liabilities of the company are translated using the rate of exchange prevailing at the reporting date and non-monetary assets and liabilities measured at fair value are translated at the rate of exchange prevailing at the date when the fair value was determined. Revenues and expenses are measured at average rates during the period. Gains or losses on translation of these items are included in net income. Gains or losses on transactions which hedge these items are also included in net income. Foreign currency denominated non-monetary assets and liabilities, measured at historic cost, are translated at the rate of exchange at the transaction date. e) Cash and Cash Equivalents Cash and cash equivalents include cash on hand, demand deposits and highly liquid short-term investments with original maturities of three months or less. f) Related Party Transactions In the normal course of operations, the company enters into various transactions on market terms with related parties. The majority of transactions with related parties are between consolidated entities and eliminate on consolidation. The company and its subsidiaries may also transact with entities over which the company has significant influence or joint control. Amounts owed to and by associates and joint ventures are not eliminated on consolidation. The company’s subsidiaries with significant non-controlling interests are described in Note 4 and its associates and joint ventures are described in Note 10. In addition to our subsidiaries and equity accounted investments, we consider key management personnel, the Board of Directors and material shareholders to be related parties. See additional details in Note 27. g) Operating Assets i. Investment Properties The company uses the fair value method to account for real estate classified as investment properties. A property is determined to be an investment property when it is principally held either to earn rental income or for capital appreciation, or both. Investment properties also include properties that are under development or redevelopment for future use as investment property. Investment properties are initially measured at cost including transaction costs , or at fair value if acquired in a business combination . Subsequent to initial recognition, investment properties are carried at fair value. Gains or losses arising from changes in fair value are included in net income during the period in which they arise. Fair values are completed by undertaking one of two accepted approaches: (i) discounting the expected future cash flows, generally over a term of 10 years including a terminal value based on the application of a capitalization rate to estimated year 11 net operating income, typically used for our office, retail and logistics assets; or (ii) undertaking a direct capitalization approach for certain of our LP investments and directly held multifamily assets whereby a capitalization rate is applied to estimated stabilized annual net operating income. The future cash flows of each property are based upon, among other things, rental income from current leases and assumptions about rental income from future leases reflecting current conditions, less future cash outflows relating to such current and future leases. Commercial developments are also measured using a discounted cash flow model, net of costs to complete, as of the balance sheet date. Development sites in the planning phases are carried at cost. ii. Property, Plant and Equipment The company uses the revaluation method of accounting for certain classes of property, plant and equipment as well as certain assets which are under development for future use as PP&E. PP&E measured using the revaluation method is initially measured at cost , or at fair value if acquired in a business combination, and subsequently carried at its revalued amount, being the fair value at the date of the revaluation less any subsequent accumulated depreciation and any accumulated impairment losses. Revaluations are performed on an annual basis at the end of each fiscal year, commencing in the first year subsequent to the date of acquisition, unless there is an indication that assets are impaired. Where the carrying amount of an asset increases as a result of a revaluation, the increase is recognized in other comprehensive income and accumulated in equity in revaluation surplus, unless the increase reverses a previously recognized revaluation loss recorded through net income, in which case that portion of the increase is recognized in net income. Where the carrying amount of an asset decreases, the decrease is recognized in other comprehensive income to the extent of any balance existing in revaluation surplus in respect of the asset, with the remainder of the decrease recognized in net income. Depreciation of an asset commences when it is available for use. On loss of control or partial disposition of an asset measured using the revaluation method, all accumulated revaluation surplus or the portion disposed of, respectively, is transferred into retained earnings or ownership changes, respectively. PP&E held in our Private Equity segment, which include leasehold improvements, are measured at cost less accumulated depreciation and accumulated impairment losses, if any. Land is carried at cost whereas finite-life assets such as buildings and equipment are carried at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on a systematic basis over the assets’ useful life. Depreciation methods and useful lives are reassessed at least annually regardless of the measurement method used. Renewable Power Renewable power generally determines the fair value of its PP&E by using a 20-year discounted cash flow model for the majority of its assets. This model incorporates future cash flows from long-term power purchase agreements that are in place where it is determined that the power purchase agreements are linked specifically to the related power generating assets. The model also includes estimates of future electricity prices, anticipated long-term average generation, estimated operating and capital expenditures, and assumptions about future inflation rates and discount rates by geographical location. Depreciation on renewable power generating assets is calculated on a straight-line basis over the estimated service lives of the assets, which are as follows: (YEARS) Useful Lives Dams Up to 115 Penstocks Up to 60 Powerhouses Up to 115 Hydroelectric generating units Up to 115 Wind generating units Up to 30 Solar generating units Up to 35 Gas-fired cogenerating (“Cogeneration”) units Up to 40 Other assets Up to 60 Cost is allocated to the significant components of power generating assets and each component is depreciated separately. The depreciation of PP&E in our Brazilian renewable power operations is based on the duration of the authorization or the useful life of a concession. The weighted-average remaining duration at December 31, 2020 is 32 years (2019 – 32 years). Land rights are included as part of the concession or authorization and are subject to depreciation. Infrastructure Utilities, tran sport, midstream and data assets within our infrastructure operations as well as assets under development classified as PP&E on the Consolidated Balance Sheets are accounted for using the revaluation method. The company determines the fair value of its utilities, transport, midstream and data assets using discounted cash flow analyses, which include estimates of forecasted revenue, operating costs, maintenance and other capital expenditures. Valuations are performed internally on an annual basis. Discount rates are selected for each asset, giving consideration to the volatility and geography of its revenue streams. Depreciation on utilities, transport, midstream and data assets i s calculated on a straight-line or declining balance basis over the estimated service lives of the components of the assets, which are as follows: (YEARS) Useful Lives Buildings Up to 75 Transmission stations, towers and related fixtures Up to 40 Leasehold improvements Up to 50 Plant and equipment Up to 40 Network systems Up to 65 Track Up to 40 District energy systems Up to 50 Pipelines Up to 20 Gas storage assets Up to 50 The fair value and the estimated remaining service lives are reassessed annually. Public service concessions that provide the right to charge users for a service in which the service and fee is regulated by the grantor are accounted for as intangible assets. In our sustainable resources operations, land used in the production of standing timber, as well as bridges and roads used in sustainable resources production, are accounted for using the revaluation method and included in PP&E. Bridges, roads and equipment are depreciated over their useful lives, generally 3 to 30 years. Real Estate – Hospitality Assets Hospitality operating assets within our real estate operations are classified as PP&E and are accounted for using the revaluation method. The company determines the fair value for these assets by using a depreciated replacement cost method based on the age, physical condition and the construction costs of the assets. Fair value of hospitality properties are also reviewed in reference to each hospitality asset’s enterprise value which is determined using a discounted cash flow model. Depreciation on hospitality assets is calculated on a straight-line basis over the estimated useful lives of each component of the asset as follows: (YEARS) Useful Lives Building and building improvements 5 to 50 + Land improvements 15 Furniture, fixtures and equipment 2 to 15 Private Equity The company accounts for its private equity PP&E using the cost model. Costs include expenditures that are directly attributable to the acquisition of the asset. Depreciation of an asset commences when it is available for use. PP&E is depreciated for each component of the following asset classes as follows: On a straight-line basis (YEARS) Useful Lives Buildings Up to 50 Leasehold improvements Up to 40 Machinery and equipment Up to 20 Vessels Up to 35 Not on a straight-line basis Useful Lives Oil and gas related equipment Units of production iii. Inventory Private Equity Fuel inventories within our Private Equity segment are traded in active markets and are purchased with the view to resell in the near future, generating a profit from fluctuations in prices or margins. As a result, fuel inventories are carried at market value by reference to prices in a quoted active market, in accordance with the commodity broker-trader exemption granted by IAS 2, Inventories . Changes in fair value less costs to sell are recognized in the Consolidated Statements of Operations through direct costs. Fuel products that are held for extended periods in order to benefit from future anticipated increases in fuel prices or located in territories where no active market exists are recognized at the lower of cost and net realizable value. Products and chemicals used in the production of biofuels are valued at the lower of cost and net realizable value. Real Estate Develop-for-sale multifamily projects, residential development lots, homes and residential condominium projects are recorded in inventory. Residential development lots are recorded at the lower of cost, which includes pre-development expenditures and capitalized borrowing costs and net realizable value, which the company determines as the estimated selling price of the inventory in the ordinary course of business in its completed state, less estimated expenses, including holding costs, costs to complete and costs to sell. Homes and other properties held for sale, which include properties subject to sale agreements, are recorded at the lower of cost and net realizable value in inventory. Costs are allocated to the salable acreage of each project or subdivision in proportion to the anticipated revenue. Residential Development Inventories consist of land held for development, land under development, homes under construction, completed homes and model homes. In addition to direct land acquisitions, land development and improvement costs and home construction costs, costs also include interest, real estate taxes and direct overhead related to development and construction, which are capitalized to inventory during the period beginning with the commencement of development and ending with the completion of construction or development. Indirect costs are allocated to homes or lots based on the number of units in a community. Land and housing assets are recorded at the lower of cost and net realizable value, which the company determines as the estimated selling price of the inventory in the ordinary course of business in its completed state, less estimated expenses, including holding costs, costs to complete and costs to sell. h) Fair Value Measurement Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, regardless of whether that price is directly observable or estimated using another valuation technique. In estimating the fair value of an asset or a liability, the company takes into account the characteristics of the asset or liability if market participants would take those characteristics into account when pricing the asset or liability at the measurement date. Fair value measurement is disaggregated into three hierarchical levels: Level 1, 2 or 3. Fair value hierarchical levels are directly based on the degree to which the inputs to the fair value measurement are observable. The levels are as follows: Level 1 – Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date. Level 2 – Inputs (other than quoted prices included in Level 1) are either directly or indirectly observable for the asset or liability through correlation with market data at the measurement date and for the duration of the asset or liability’s anticipated life. Level 3 – Inputs are unobservable and reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs in determining the estimate. Refer to the investment properties and revaluation of PP&E explanations for the approach taken to determine the fair value of these operating assets. Further information on fair value measurements is available in Notes 6, 7, 11 and 12. i) Accounts Receivable Trade receivables are recognized initially at fair value and subsequently measured at amortized cost using the effective interest method, less an allowance for expected credit losses for uncollectability. j) Intangible Assets Finite life intangible assets are carried at cost less any accumulated amortization and any accumulated impairment losses and are amortized on a straight-line basis over their estimated useful lives. Amortization is recorded within depreciation and amortization in the Consolidated Statements of Operations. Certain of the company’s intangible assets have an indefinite life as there is no foreseeable limit to the period over which the asset is expected to generate cash flows. Indefinite life intangible assets are recorded at cost unless an impairment is identified which requires a write-down to its recoverable amount. Indefinite life intangible assets are evaluated for impairment annually or more often if events or circumstances indicate there may be an impairment. Any impairment of the company’s indefinite life intangible assets is recorded in net income in the period in which the impairment is identified. Impairment losses on intangible assets may be subsequently reversed in net income. Infrastructure Intangible assets within our Infrastructure segment primarily consist of conservancy rights, service concession arrangements, customer order backlogs, track access rights, operating network agreements and customer contracts and relationships. Concession arrangements, accounted for as intangible assets under IFRIC 12, Service Concession Arrangements (“IFRIC 12”), were mostly acquired through acquisitions of gas transmission, electricity transmission and toll road businesses and are amortized on a straight-line basis over the term of the arrangement. The intangible assets at the Brazilian regulated gas transmission operation and Brazilian electricity transmission operation relate to concession contracts, and are amortized on a straight-line basis over the life of the contractual agreement. The intangible assets at the Chilean, Indian and Peruvian toll roads relate to the right to operate a road and charge users a specified tariff for a contractual length of time and is amortized over the life of the contractual arrangement with an average of 13, 16 and 22 years remaining, respectively. Refer to Note 13 of the consolidated financial statements for additional information on these concession arrangements. The intangible assets at our residential infrastructure operation are comprised of contractual customer relationships, customer contracts, proprietary technology and brands. The contractual customer relationships and customer contracts represent ongoing economic benefits from leasing customers and annuity-based management agreements. Proprietary technology is recognized for the development of new metering technology, which allows the business to generate revenue through its sub-metering business. Brands represent the intrinsic value customers place on the operation’s various brand names. Private Equity Our private equity operations include intangible assets across a number of operating companies. The majority are finite life intangible assets that are amortized on a straight-line basis over the following useful lives: (YEARS) Useful Lives Water and sewage concession agreements Up to 40 Brand names Up to 20 Computer software Up to 10 Customer relationships Up to 30 Value of insurance contracts acquired Up to 15 Patents and trademarks Up to 40 Proprietary technology Up to 20 Product development costs Up to 5 Distribution networks Up to 25 Loyalty program Up to 15 Real Estate Intangible assets in our Real Estate segment are primarily trademarks associated with hospitality assets. These trademarks have indefinite lives. k) Goodwill Goodwill represents the excess of the price paid for the acquisition of an entity over the fair value of the net identifiable tangible and intangible assets and liabilities acquired. Goodwill is allocated to the cash-generating unit to which it relates. The company identifies cash-generating units as identifiable groups of assets that are largely independent of the cash inflows from other assets or groups of assets. Goodwill is evaluated for impairment annually or more often if events or circumstances indicate there may be an impairment. Impairment is determined for goodwill by assessing if the carrying value of a cash-generating unit, including the allocated goodwill, exceeds its recoverable amount determined as the greater of the estimated fair value less costs to sell and the value in use. Impairment losses recognized in respect of a cash-generating unit are first allocated to the carrying value of goodwill and any excess is allocated to the carrying amount of assets in the cash-generating unit. Any goodwill impairment is recorded in income in the period in which the impairment is identified. Impairment losses on goodwill are not subsequently reversed. On disposal of a subsidiary, any attributable amount of goodwill is included in determination of the gain or loss on disposal. l) Impairment of Long-Lived Assets At each balance sheet date or more often if events or circumstances indicate there may be impairment, the company assesses whether its assets, other than those measured at fair value with changes in value recorded in net income, have any indication of impairment. An impairment is recognized if the recoverable amount, determined as the higher of the estimated fair value less costs of disposal and the discounted future cash flows generated from use and eventual disposal from an asset or cash-generating unit, is less than their carrying value. Impairment losses are recorded as fair value changes within the Consolidated Statements of Operations. The projections of future cash flows take into account the relevant operating plans and management’s best estimate of the most probable set of conditions anticipated to prevail. Where an impairment loss subsequently reverses, the carrying amount of the asset or cash-generating unit is increased to the lesser of the revised estimate of its recoverable amount and the carrying amount that would have been recorded had no impairment loss been recognized previously. m) Subsidiary Equity Obligations Subsidiary equity obligations include subsidiary preferred equity units, subsidiary preferred shares and capital securities as well as limited-life funds and redeemable fund units. Subsidiary preferred equity units and capital securities are preferred shares that may be settled by a variable number of common equity units upon their conversion by the holders or the company. These instruments, as well as the related accrued distributions, are classified as liabilities at amortized cost on the Consolidated Balance Sheets. Dividends or yield distributions on these instruments are recorded as interest expense. To the extent conversion features are not closely related to the underlying liability the instruments are bifurcated into debt and equity components. Limited-life funds represent the interests of others in the company’s consolidated funds that have a defined maximum fixed life where the company has an obligation to distribute the residual interests of the fund to fund partners based on their proportionate share of the fund’s equity in the form of cash or other financial assets at cessation of the fund’s life. Redeemable fund units represent interests of others in consolidated subsidiaries that have a redemption feature that requires the company to deliver cash or other financial assets to the holders of the units upon receiving a redemption notice. Limited-life funds and redeemable fund units are classified as liabilities and recorded at fair value within subsidiary equity obligations on the Consolidated Balance Sheets. Changes in the fair value are recorded in net income in the period of the change. n) Revenue from Contracts with Customers IFRS 15, Revenue from Contracts with Customers (“IFRS 15”), specifies how and when revenue should be recognized and requires disclosures about the nature, amount, timing and uncertainty of revenues and cash flows arising from customer contracts. Where available, the company has elected the practical expedient available under IFRS 15 for measuring progress toward complete satisfaction of performance obligation and for disclosure requirements of remaining
PROPERTY, PLANT AND EQUIPMENT	Depreciation on renewable power generating assets is calculated on a straight-line basis over the estimated service lives of the assets, which are as follows: (YEARS) Useful Lives Dams Up to 115 Penstocks Up to 60 Powerhouses Up to 115 Hydroelectric generating units Up to 115 Wind generating units Up to 30 Solar generating units Up to 35 Gas-fired cogenerating (“Cogeneration”) units Up to 40 Other assets Up to 60 Depreciation on utilities, transport, midstream and data assets i s calculated on a straight-line or declining balance basis over the estimated service lives of the components of the assets, which are as follows: (YEARS) Useful Lives Buildings Up to 75 Transmission stations, towers and related fixtures Up to 40 Leasehold improvements Up to 50 Plant and equipment Up to 40 Network systems Up to 65 Track Up to 40 District energy systems Up to 50 Pipelines Up to 20 Gas storage assets Up to 50 Depreciation on hospitality assets is calculated on a straight-line basis over the estimated useful lives of each component of the asset as follows: (YEARS) Useful Lives Building and building improvements 5 to 50 + Land improvements 15 Furniture, fixtures and equipment 2 to 15 On a straight-line basis (YEARS) Useful Lives Buildings Up to 50 Leasehold improvements Up to 40 Machinery and equipment Up to 20 Vessels Up to 35 Not on a straight-line basis Useful Lives Oil and gas related equipment Units of production The company’s property, plant and equipment relates to the operating segments as shown below: Renewable Power (a) Infrastructure (b) Real Estate (c) Private Equity and Other (d) Total AS AT DEC. 31 (MILLIONS) 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 Costs $ 28,838 $ 27,820 $ 31,212 $ 22,454 $ 9,251 $ 9,890 $ 18,770 $ 17,269 $ 88,071 $ 77,433 Accumulated fair value changes 24,238 20,465 4,626 3,777 393 1,366 (873) (643) 28,384 24,965 Accumulated depreciation (7,870) (6,690) (3,671) (2,459) (1,212) (1,527) (3,693) (2,458) (16,446) (13,134) Total 1 $ 45,206 $ 41,595 $ 32,167 $ 23,772 $ 8,432 $ 9,729 $ 14,204 $ 14,168 $ 100,009 $ 89,264 1. As at December 31, 2020, the total includes $3.9 billion (December 31, 2019 – $3.7 billion) of property, plant and equipment leased to third parties as operating leases. Our ROU PP&E assets include $4.1 billion (December 31, 2019 – $2.2 billion) in our Infrastructure segment, $856 million (December 31, 2019 – $796 million) in our Real Estate segment, $393 million (December 31, 2019 – $1.1 billion) in our Renewable Power segment and $1.3 billion (December 31, 2019 – $1.3 billion) in Private Equity and other segments, totaling $6.7 billion (December 31, 2019 – $5.4 billion) of ROU assets. Renewable Power, Infrastructure and Real Estate segments carry property, plant and equipment assets at fair value, classified as Level 3 in the fair value hierarchy due to the use of significant unobservable inputs when determining fair value. Private Equity and other segments carry property, plant and equipment assets at amortized cost. The carrying amount that would have been recognized had our assets been accounted for under the cost model is $59.0 billion ( 2019 – $51.7 billion) . As at December 31, 2020, $80.2 billion (2019 – $66.3 billion) of property, plant and equipment, at cost, were pledged as collateral for the property debt at their respective properties. a) Renewable Power Our renewable power property, plant and equipment consists of the following: Hydroelectric Wind Solar and Other Total AS AT AND FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 2020 2019 2020 2019 2020 2019 Cost, beginning of year $ 14,074 $ 13,843 $ 8,459 $ 7,968 $ 5,287 $ 4,297 $ 27,820 $ 26,108 Changes in basis of accounting — 83 — 321 — 3 — 407 Additions, net of disposals and assets reclassified as held for sale 425 162 (9) (342) 284 280 700 100 Acquisitions through business combinations — — — 566 661 742 661 1,308 Foreign currency translation (600) (14) (52) (54) 309 (35) (343) (103) Cost, end of year 13,899 14,074 8,398 8,459 6,541 5,287 28,838 27,820 Accumulated fair value changes, beginning of year 16,927 15,416 2,588 2,079 950 765 20,465 18,260 Fair value changes 3,221 1,369 402 669 530 195 4,153 2,233 Dispositions and assets reclassified as held for sale — — — (126) — (35) — (161) Foreign currency translation (283) 142 (82) (34) (15) 25 (380) 133 Accumulated fair value changes, end of year 19,865 16,927 2,908 2,588 1,465 950 24,238 20,465 Accumulated depreciation, beginning of year (4,412) (3,879) (1,781) (1,358) (497) (260) (6,690) (5,497) Depreciation expenses (517) (532) (546) (502) (302) (245) (1,365) (1,279) Dispositions and assets reclassified as held for sale 17 7 25 101 9 9 51 117 Foreign currency translation 181 (8) 9 (22) (56) (1) 134 (31) Accumulated depreciation, end of year (4,731) (4,412) (2,293) (1,781) (846) (497) (7,870) (6,690) Balance, end of year $ 29,033 $ 26,589 $ 9,013 $ 9,266 $ 7,160 $ 5,740 $ 45,206 $ 41,595 The following table presents our renewable power property, plant and equipment measured at fair value by geography: AS AT DEC. 31 (MILLIONS) 2020 2019 North America $ 28,044 $ 25,617 Colombia 8,150 7,353 Europe 4,912 3,770 Brazil 3,005 3,575 Other 1 1,095 1,280 $ 45,206 $ 41,595 1. Other refers primarily to China, India and Chile in both 2020 and 2019. Renewable power assets are accounted for under the revaluation model and the most recent date of revaluation was December 31, 2020. Valuations utilize significant unobservable inputs (Level 3) when determining the fair value of renewable power assets. The significant Level 3 inputs include: Valuation Technique Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis • Future cash flows – primarily impacted by future electricity price assumptions • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from terminal capitalization rates • Exit date • Increases (decreases) in the exit date decrease (increase) fair value • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year Key valuation metrics of the company’s hydroelectric, wind and solar generating facilities at the end of 2020 and 2019 are summarized below. North America Brazil Colombia Europe AS AT DEC. 31 2020 2019 2020 2019 2020 2019 2020 2019 Discount rate Contracted 4.1 – 4.5% 4.6 – 4.9% 7.3 % 8.2 % 8.1 % 9.0 % 3.0 – 3.6% 3.5 – 4.0% Uncontracted 5.6 – 6.0% 6.1 – 6.4% 8.6 % 9.5 % 9.4 % 10.3 % 3.6 – 4.7% 4.0 – 5.3% Terminal capitalization rate 1 5.8 – 6.2% 6.2 – 6.7% n/a n/a 8.9 % 9.8 % n/a n/a Exit date 2041 2040 2048 2047 2040 2039 2035 2035 1. Terminal capitalization rate applies only to hydroelectric assets in North America and Colombia. Terminal values are included in the valuation of hydroelectric assets in the U.S., Canada and Colombia. For the hydroelectric assets in Brazil, cash flows have been included based on the duration of the authorization or useful life of a concession asset without consideration of potential renewal value. The weighted-average remaining duration as at December 31, 2020, which includes a one-time 30-year renewal for applicable hydroelectric assets completed in the current year, is 32 years (2019 – 32 years). Consequently, there is no terminal value attributed to the hydroelectric assets in Brazil. Key assumptions on contracted generation and future power pricing are summarized below: Total Generation Contracted under Power Purchase Agreements Power Prices from Long-Term Power Purchase Agreements (weighted average) Estimates of Future Electricity Prices (weighted average) AS AT DEC. 31, 2020 (MILLIONS) 1 – 10 years 11 – 20 years 1 – 10 years 11 – 20 years 1 – 10 years 11 – 20 years North America (prices in US$/MWh) 43 % 13 % 96 90 65 117 Brazil (prices in R$/MWh) 70 % 30 % 306 396 245 328 Colombia (prices in COP$/MWh) 27 % — % 220,000 N/A 265,000 384,000 Europe (prices in €/MWh) 87 % 56 % 167 255 68 54 The company’s estimate of future renewable power pricing is based on management’s estimate of the cost of securing new energy from renewable sources to meet future demand between 2023 and 2035 (2019 – between 2023 and 2035), which will maintain system reliability and provide adequate levels of reserve generation. b) Infrastructure Our infrastructure property, plant and equipment consists of the following: Utilities Transport Midstream Data Sustainable Resources and Other Total AS AT AND FOR THE YEAR ENDED DEC. 31 (MILLIONS) 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 Cost, beginning of year $ 8,654 $ 6,248 $ 8,309 $ 2,495 $ 3,971 $ 2,443 $ 1,131 $ 444 $ 389 $ 429 $ 22,454 $ 12,059 Changes in basis of accounting — 110 — 356 — 108 — 633 — — — 1,207 Additions, net of disposals and assets reclassified as held for sale 550 34 146 171 277 136 51 (43) (16) (25) 1,008 273 Acquisitions through business combinations — 2,135 — 5,283 — 1,197 7,334 95 — — 7,334 8,710 Foreign currency translation 102 127 243 4 73 87 77 2 (79) (15) 416 205 Cost, end of year 9,306 8,654 8,698 8,309 4,321 3,971 8,593 1,131 294 389 31,212 22,454 Accumulated fair value changes, beginning of year 2,187 2,002 857 810 317 221 — — 416 447 3,777 3,480 Disposition and assets reclassified as held for sale — (416) — — — — — — — (37) — (453) Fair value changes 652 572 113 45 21 92 — — 6 6 792 715 Foreign currency translation 78 29 77 2 — 4 — — (98) — 57 35 Accumulated fair value changes, end of year 2,917 2,187 1,047 857 338 317 — — 324 416 4,626 3,777 Accumulated depreciation, beginning of year (1,172) (985) (950) (744) (208) (120) (88) — (41) (40) (2,459) (1,889) Depreciation expenses (419) (415) (498) (178) (141) (84) (189) (87) (10) (10) (1,257) (774) Dispositions and assets reclassified as held for sale 12 247 134 (25) — 3 17 — 7 7 170 232 Foreign currency translation (34) (19) (90) (3) (7) (7) (3) (1) 9 2 (125) (28) Accumulated depreciation, end of year (1,613) (1,172) (1,404) (950) (356) (208) (263) (88) (35) (41) (3,671) (2,459) Balance, end of year $ 10,610 $ 9,669 $ 8,341 $ 8,216 $ 4,303 $ 4,080 $ 8,330 $ 1,043 $ 583 $ 764 $ 32,167 $ 23,772 Infrastructure’s PP&E assets are accounted for under the revaluation model, and the most recent date of revaluation was December 31, 2020. The company’s utilities assets consist of regulated transmission and regulated distribution networks, which are operated primarily under regulated rate base arrangements. In the company’s transport operations, the PP&E assets consist of railroads, toll roads and ports. PP&E assets in the midstream operations are comprised of energy transmission, distribution and storage and district energy assets. Data PP&E include mainly telecommunications towers, fiber optic networks and data storage assets. PP&E within our sustainable resource operations include standing timber, land, roads and other agricultural assets. Valuations utilize significant unobservable inputs (Level 3) when determining the fair value of infrastructure’s utilities, transport, midstream, data and sustainable resources assets. The significant Level 3 inputs include: Valuation Technique Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from discount rates • Terminal capitalization multiple • Increases (decreases) in terminal capitalization multiple increases (decreases) fair value • Increases (decreases) in terminal capitalization multiple tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from terminal capitalization multiple • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value • Increases (decreases) in the investment horizon tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year Key valuation metrics of the company’s utilities, transport, midstream, data and sustainable resources assets at the end of 2020 and 2019 are summarized below. Utilities Transport Midstream Sustainable Resources AS AT DEC. 31 2020 2019 2020 2019 2020 2019 2020 2019 Discount rates 7 – 14% 7 – 14% 7 – 13% 7 – 13% 15 % 15 % 6% 5 – 10% Terminal capitalization multiples 7x – 23x 8x – 21x 9x – 14x 9x – 14x 10x 10x 6x 5x – 10x Investment horizon/Exit date (years) 10 10 – 20 10 10 – 20 5 – 10 5 – 10 10 3 – 21 c) Real Estate Cost Accumulated Fair Value Changes Accumulated Depreciation Total AS AT AND FOR THE YEAR ENDED DEC. 31 (MILLIONS) 2020 2019 2020 2019 2020 2019 2020 2019 Balance, beginning of year $ 9,890 $ 7,713 $ 1,366 $ 1,045 $ (1,527) $ (1,106) $ 9,729 $ 7,652 Changes in basis of accounting (1,895) 769 (681) — 786 — (1,790) 769 Additions/(dispositions) 1 , net of assets reclassified as held for sale 1,023 514 (135) (2) 27 37 915 549 Acquisitions through business combinations — 785 — — — — — 785 Foreign currency translation 233 109 2 — (41) (15) 194 94 Fair value changes — — (159) 323 — — (159) 323 Depreciation expenses — — — — (457) (443) (457) (443) Balance, end of year $ 9,251 $ 9,890 $ 393 $ 1,366 $ (1,212) $ (1,527) $ 8,432 $ 9,729 1. For accumulated depreciation, (additions)/dispositions. The company’s real estate PP&E assets include hospitality assets accounted for under the revaluation model, with the most recent revaluation as at December 31, 2020. The company determined fair value for these assets by using the depreciated replacement cost method. Valuations utilize significant unobservable inputs (Level 3) when determining the fair value of real estate assets. The significant Level 3 inputs include estimates of assets’ replacement cost and remaining economic life. d) Private Equity Private equity and other PP&E includes assets owned by the company’s private equity and residential development operations. These assets are accounted for under the cost model, which requires the assets to be carried at cost less accumulated depreciation and any accumulated impairment losses. The following table presents the changes to the carrying value of the company’s property, plant and equipment assets included in these operations: Cost Accumulated Impairment Accumulated Depreciation Total AS AT AND FOR THE YEAR ENDED DEC. 31 (MILLIONS) 2020 2019 2020 2019 2020 2019 2020 2019 Balance, beginning of year $ 17,269 $ 9,027 $ (643) $ (434) $ (2,458) $ (1,472) $ 14,168 $ 7,121 Changes in basis of accounting — 1,032 — — — — — 1,032 Additions/(dispositions) 1 , net of assets reclassified as held for sale 874 477 57 — 290 332 1,221 809 Acquisitions through business combinations 84 6,650 — — — — 84 6,650 Foreign currency translation 543 83 (3) (13) (61) (44) 479 26 Depreciation expenses — — — — (1,464) (1,274) (1,464) (1,274) Impairment charges — — (284) (196) — — (284) (196) Balance, end of year $ 18,770 $ 17,269 $ (873) $ (643) $ (3,693) $ (2,458) $ 14,204 $ 14,168 1. For accumulated depreciation, (additions)/dispositions.

SEGMENTED INFORMATION

SEGMENTED INFORMATION	12 Months Ended
SEGMENTED INFORMATION	Dec. 31, 2020
Disclosure of operating segments [abstract]
SEGMENTED INFORMATION	SEGMENT INFORMATION a) Operating Segments Our operations are organized into our asset management and corporate segments, in addition to five operating business groups which collectively represent seven operating segments for internal and external reporting purposes. We use our common equity by segment to evaluate capital allocation decisions and measure performance using funds from operations (“FFO”). Our operating segments are as follows: The Corporation: i. Asset management operations include managing our long-term private funds, perpetual strategies and public securities on behalf of our investors and ourselves, as well as our share of the asset management activities of Oaktree Capital Management (“Oaktree”). We generate contractual base management fees for these activities as well as incentive distributions and performance income, including performance fees, transaction fees and carried interest. ii. Corporate activities include the investment of cash and financial assets, as well as the management of our corporate leverage, including corporate borrowings and preferred equity, which fund a portion of the capital invested in our other operations. Certain corporate costs such as technology and operations are incurred on behalf of our operating segments and allocated to each operating segment based on an internal pricing framework. Managed investments: iii. Real estate operations include the ownership, operation and development of core office, core retail, LP investments and other properties. iv. Renewable power operations include the ownership, operation and development of hydroelectric, wind, solar and energy transition power generating facilities. v. Infrastructure operations include the ownership, operation and development of utilities, transport, midstream, data and sustainable resource assets. vi. Private equity operations include a broad range of industries, and are mostly focused on business services, infrastructure services and industrials. vii. Residential development operations consist of homebuilding, condominium development and land development. b) Segment Financial Measures FFO is a key measure of our financial performance and our segment measure of profit and loss. It is utilized by our Chief Operating Decision Maker in assessing operating results and the performance of our businesses on a segmented basis. We define FFO as net income excluding fair value changes, depreciation and amortization and deferred income taxes, net of non-controlling interests. When determining FFO, we include our proportionate share of the FFO from equity accounted investments on a fully diluted basis. FFO also includes realized disposition gains and losses, which are gains or losses arising from transactions during the reporting period, adjusted to include associated fair value changes and revaluation surplus recorded in prior periods, taxes payable or receivable in connection with those transactions and amounts that are recorded directly in equity, such as ownership changes. We use FFO to assess our performance as an asset manager and as an investor in our assets. FFO from our Asset Management segment includes fees, net of the associated costs, that we earn from managing capital in our listed affiliates, private funds and public securities accounts. We are also eligible to earn incentive payments in the form of incentive distributions, performance fees or carried interest. As an investor in our assets, our FFO represents the company’s share of revenues less costs incurred within our operations, which include interest expenses and other costs. Specifically, it includes the impact of contracts that we enter into to generate revenues, including power sales agreements, contracts that our operating businesses enter into such as leases and take or pay contracts and sales of inventory. FFO includes the impact of changes in leverage or the cost of that financial leverage and other costs incurred to operate our business. We use realized disposition gains and losses within FFO in order to provide additional insight regarding the performance of investments on a cumulative realized basis, including any unrealized fair value adjustments that were recorded in equity and not otherwise reflected in current period FFO, and believe it is useful to investors to better understand variances between reporting periods. We exclude depreciation and amortization from FFO as we believe that the value of most of our assets typically increases over time, provided we make the necessary maintenance expenditures, the timing and magnitude of which may differ from the amount of depreciation recorded in any given period. In addition, the depreciated cost base of our assets is reflected in the ultimate realized disposition gain or loss on disposal. As noted above, unrealized fair value changes are excluded from FFO until the period in which the asset is sold. We also exclude deferred income taxes from FFO because the vast majority of the company’s deferred income tax assets and liabilities are a result of the revaluation of our assets under IFRS. Our definition of FFO may differ from the definition used by other organizations, as well as the definition of FFO used by the Real Property Association of Canada (“REALPAC”) and the National Association of Real Estate Investment Trusts, Inc. (“NAREIT”), in part because the NAREIT definition is based on U.S. GAAP, as opposed to IFRS. The key differences between our definition of FFO and the determination of FFO by REALPAC and/or NAREIT are that we include the following: realized disposition gains or losses and cash taxes payable or receivable on those gains or losses, if any; foreign exchange gains or losses on monetary items not forming part of our net investment in foreign operations; and foreign exchange gains or losses on the sale of an investment in a foreign operation. We do not use FFO as a measure of cash generated from our operations. We illustrate how we derive FFO for each operating segment and reconcile total FFO to net income in Note 3(c)(v) of the consolidated financial statements. Segment Balance Sheet Information We use common equity by segment as our measure of segment assets when reviewing our deconsolidated balance sheet because it is utilized by our Chief Operating Decision Maker for capital allocation decisions. Segment Allocation and Measurement Segment measures include amounts earned from consolidated entities that are eliminated on consolidation. The principal adjustment is to include asset management revenues charged to consolidated entities as revenues within the company’s Asset Management segment with the corresponding expense recorded as corporate costs within the relevant segment. These amounts are based on the in-place terms of the asset management contracts between the consolidated entities. Inter-segment revenues are determined under terms that approximate market value. The company allocates the costs of shared functions that would otherwise be included within its Corporate Activities segment, such as information technology and internal audit, pursuant to formal policies. c) Reportable Segment Measures AS AT AND FOR THE YEAR ENDED DEC. 31, 2020 (MILLIONS) Asset Corporate Real Estate Renewable Infrastructure Private Residential Total Note External revenues $ 246 $ 872 $ 8,851 $ 4,085 $ 9,294 $ 37,161 $ 2,243 $ 62,752 Inter-segment and other revenues 1 3,278 (1) 32 — 7 614 — 3,930 i Segmented revenues 3,524 871 8,883 4,085 9,301 37,775 2,243 66,682 FFO from equity accounted investments 1 277 (17) 765 116 1,329 600 21 3,091 ii Interest expense — (388) (3,117) (885) (1,224) (1,573) (29) (7,216) iii Current income taxes — (67) (82) (66) (247) (286) (8) (756) iv Funds from operations 1 1,776 (86) 876 1,044 569 935 66 5,180 v Common equity 4,947 (6,986) 19,331 5,154 2,552 3,965 2,730 31,693 Equity accounted investments 4,530 830 21,024 1,444 10,530 2,623 346 41,327 Additions to non-current assets 2 64 234 10,117 1,677 11,200 3,535 45 26,872 1. We equity account for our investment in Oaktree and include our share of the FFO and FFO from equity accounted investments at approximately 62%. However, for segment reporting, Oaktree’s revenue is shown on a 100% basis. For the year ended December 31, 2020, $1.2 billion of Oaktree’s revenues was included in our Asset Management segment revenue. 2. Includes additions to equity accounted investments, investment properties, property, plant and equipment, sustainable resources, intangible assets and goodwill. AS AT AND FOR THE YEAR ENDED DEC. 31, 2019 (MILLIONS) Asset Corporate Real Estate Renewable Infrastructure Private Residential Total Note External revenues $ 271 $ 508 $ 10,442 $ 3,959 $ 7,091 $ 43,099 $ 2,456 $ 67,826 Inter-segment revenues 2,343 (49) 33 15 2 479 — 2,823 i Segmented revenues 1 2,614 459 10,475 3,974 7,093 43,578 2,456 70,649 FFO from equity accounted investments 43 14 1,049 74 1,100 320 41 2,641 ii Interest expense — (349) (3,469) (923) (937) (1,536) (66) (7,280) iii Current income taxes — (114) (165) (73) (255) (326) (37) (970) iv Funds from operations 1 1,597 (359) 1,185 333 464 844 125 4,189 v Common equity 4,927 (7,897) 18,781 5,320 2,792 4,086 2,859 30,868 Equity accounted investments 4,599 681 22,314 1,154 8,972 2,596 382 40,698 Additions to non-current assets 2 4,654 617 17,915 2,207 17,352 19,825 88 62,658 1. We equity account for our investment in Oaktree and include our share of the FFO and FFO from equity accounted investments at approximately 61%. However, for segment reporting, Oaktree’s revenue is shown on a 100% basis. For the year ended December 31, 2019, $231 million of Oaktree’s revenues was included in our Asset Management segment revenue. 2. Includes additions to equity accounted investments, investment properties, property, plant and equipment, sustainable resources, intangible assets and goodwill. i. Inter-Segment Revenues For the year ended December 31, 2020, the adjustment to external revenues when determining segmented revenues consists of asset management revenues earned from consolidated entities and Oaktree totaling $3.3 billion (2019 – $2.3 billion), revenues earned on construction projects between consolidated entities totaling $610 million (2019 – $450 million), and other revenues totaling a net income of $42 million (2019 – $30 million). Inter-segment revenues are eliminated on consolidation to arrive at the company’s consolidated revenues. ii. FFO from Equity Accounted Investments The company determines FFO from its equity accounted investments by applying the same methodology utilized in adjusting net income of consolidated entities. The following table reconciles the company’s consolidated equity accounted income to FFO from equity accounted investments: FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 Consolidated equity accounted (loss) income $ (79) $ 2,498 Non-FFO items from equity accounted investments 1 3,170 143 FFO from equity accounted investments $ 3,091 $ 2,641 1. Adjustment to back out non-FFO expenses (income) that are included in consolidated equity accounted income including depreciation and amortization, deferred taxes and fair value changes from equity accounted investments. iii. Interest Expense For the year ended December 31, 2020, the adjustment to interest expense consists of interest on loans between consolidated entities totaling $8 million (2019 – $53 million) that is eliminated on consolidation, along with the associated revenue. iv. Current Income Taxes Current income taxes are included in FFO but are aggregated with deferred income taxes in income tax expense on the company’s Consolidated Statements of Operations. The following table reconciles consolidated income taxes to current and deferred income taxes: FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 Current income tax expense $ (756) $ (970) Deferred income tax (expense) recovery (81) 475 Income tax expense $ (837) $ (495) iv. v. Reconciliation of Net Income to Total FFO The following table reconciles net income to total FFO: FOR THE YEARS ENDED DEC. 31 (MILLIONS) Note 2020 2019 Net income $ 707 $ 5,354 Financial statement components not included in FFO Equity accounted fair value changes and other non-FFO items 3,170 143 Fair value changes 1,423 831 Depreciation and amortization 5,791 4,876 Deferred income taxes 81 (475) Realized disposition gains in fair value changes or equity vi 1,554 621 Non-controlling interests in FFO (7,546) (7,161) Total FFO $ 5,180 $ 4,189 vi. Realized Disposition Gains Realized disposition gains include gains and losses recorded in net income arising from transactions during the current period, adjusted to include fair value changes and revaluation surplus recorded in prior periods in connection with the assets sold. Realized disposition gains also include amounts that are recorded directly in equity as changes in ownership, as opposed to net income, because they result from a change in ownership of a consolidated entity. The realized disposition gains recorded in fair value changes, revaluation surplus or directly in equity were $1.6 billion for the year ended December 31, 2020 (2019 – $621 million), of which $499 million relates to prior periods (2019 – $284 million), $1.1 billion has been recorded directly in equity as changes in ownership (2019 – $258 million) and a loss of $29 million has been recorded in fair value changes (2019 – gain of $79 million). d) Geographic Allocation The company’s revenues by location of operations are as follows: FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 U.S. $ 18,048 $ 16,584 Canada 5,906 6,202 U.K. 16,032 21,847 Brazil 3,323 4,099 Europe 6,191 6,285 Australia 5,528 5,522 India 1,284 803 Colombia 1,762 2,095 Other Asia 2,388 1,599 Other 2,290 2,790 $ 62,752 $ 67,826 The company’s consolidated assets by location are as follows: AS AT DEC. 31 (MILLIONS) 2020 2019 U.S. $ 159,684 $ 149,687 Canada 36,403 35,840 U.K. 31,598 30,184 Brazil 20,675 24,354 Europe 22,267 19,404 Australia 22,000 22,971 India 21,438 9,089 Colombia 10,919 10,819 Other Asia 9,343 8,379 Other 9,369 13,242 $ 343,696 $ 323,969

SUBSIDIARIES

SUBSIDIARIES	12 Months Ended
SUBSIDIARIES	Dec. 31, 2020
Disclosure of subsidiaries [abstract]
SUBSIDIARIES	SUBSIDIARIES The following table presents the details of the company’s subsidiaries with significant non-controlling interests: Jurisdiction of Formation Ownership Interest Held by Non-Controlling Interests 1, 2 AS AT DEC. 31 2020 2019 Brookfield Property Partners L.P. (“BPY”) Bermuda 38.3 % 44.8 % Brookfield Renewable Partners L.P. (“BEP”) 3 Bermuda 49.3 % 39.5 % Brookfield Infrastructure Partners L.P. (“BIP”) 4 Bermuda 71.5 % 70.4 % Brookfield Business Partners L.P. (“BBU”) Bermuda 36.5 % 37.3 % 1. Control and associated voting rights of the limited partnerships (BPY, BEP, BIP and BBU) reside with their respective general partners which are wholly owned subsidiaries of the company. The company’s general partner interest is entitled to earn base management fees and incentive payments in the form of incentive distribution rights or performance fees. 2. The company’s ownership interest in BPY, BEP, BIP and BBU includes a combination of redemption-exchange units (REUs), Class A limited partnership units, special limited partnership units, general partnership units and units or shares that are exchangeable for units in our listed partnerships, in each subsidiary, where applicable. Each of BPY, BEP, BIP and BBU’s partnership capital includes its Class A limited partnership units whereas REUs and general partnership units are considered non-controlling interests for the respective partnerships. REUs share the same economic attributes in all respects except for the redemption right attached thereto. The REUs and general partnership units participate in earnings and distributions on a per unit basis equivalent to the per unit participation of the Class A limited partnership units of the subsidiary. 3. Ownership interest held by Non-Controlling Interests represents the combined units not held in BEP LP and Brookfield Renewable Corporation (“BEPC”). 4. Ownership interest held by Non-Controlling Interests represents the combined units not held in BIP LP and Brookfield Infrastructure Corporation (“BIPC”). The table below presents the exchanges on which the company’s subsidiaries with significant non-controlling interests were publicly listed as of December 31, 2020: TSX NYSE Nasdaq BPY BPY.UN N/A BPY BEP BEP.UN BEP N/A BIP BIP.UN BIP N/A BBU BBU.UN BBU N/A The following table outlines the composition of accumulated non-controlling interests presented within the company’s consolidated financial statements: AS AT DEC. 31 (MILLIONS) 2020 2019 BPY $ 25,986 $ 29,165 BEP 17,194 13,321 BIP 19,753 20,036 BBU 9,162 8,664 Individually immaterial subsidiaries with non-controlling interests 14,709 10,647 $ 86,804 $ 81,833 All publicly listed entities are subject to independent governance. Accordingly, the company has no direct access to the assets of these subsidiaries. Summarized financial information with respect to the company’s subsidiaries with significant non-controlling interests is set out below. The summarized financial information represents amounts before intra-group eliminations: BPY BEP BIP BBU AS AT AND FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 2020 2019 2020 2019 2020 2019 Current assets $ 5,009 $ 3,289 $ 1,742 $ 1,474 $ 3,711 $ 5,841 $ 14,493 $ 12,795 Non-current assets 102,942 108,354 47,980 34,217 57,620 50,467 40,253 38,956 Current liabilities (18,220) (12,466) (2,876) (1,678) (5,524) (5,439) (12,133) (11,024) Non-current liabilities (48,208) (54,242) (25,079) (15,882) (34,134) (28,692) (31,276) (29,674) Non-controlling interests (25,986) (29,165) (17,194) (13,321) (19,753) (20,036) (9,162) (8,664) Equity attributable to Brookfield $ 15,537 $ 15,770 $ 4,573 $ 4,810 $ 1,920 $ 2,141 $ 2,175 $ 2,389 Revenues $ 6,593 $ 8,203 $ 3,810 $ 2,980 $ 8,885 $ 6,597 $ 37,635 $ 43,032 Net income (loss) attributable to: Non-controlling interests $ (673) $ 2,091 $ 162 $ 348 $ 863 $ 636 $ 686 $ 353 Shareholders (1,385) 1,066 (207) (75) 41 14 (106) 81 $ (2,058) $ 3,157 $ (45) $ 273 $ 904 $ 650 $ 580 $ 434 Other comprehensive income (loss) attributable to: Non-controlling interests $ 153 $ 234 $ 1,621 $ 1,179 $ (82) $ 486 $ 25 $ (159) Shareholders 261 89 653 546 20 104 47 (39) $ 414 $ 323 $ 2,274 $ 1,725 $ (62) $ 590 $ 72 $ (198) The summarized cash flows of the company’s subsidiaries with material non-controlling interests are as follows: BPY BEP BIP BBU FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 2020 2019 2020 2019 2020 2019 Cash flows from (used in): Operating activities $ 1,332 $ 624 $ 1,296 $ 1,212 $ 2,530 $ 2,143 $ 4,205 $ 2,163 Financing activities (215) (892) (792) (1,010) 2,126 9,542 (1,077) 15,925 Investing activities (99) (1,611) (426) (251) (4,609) (11,372) (2,334) (17,939) Distributions paid to non-controlling interests in common equity $ 528 $ 576 $ 323 $ 254 $ 642 $ 628 $ 13 $ 13
Disclosure of non-controlling interests [text block]	The table below presents the exchanges on which the company’s subsidiaries with significant non-controlling interests were publicly listed as of December 31, 2020: TSX NYSE Nasdaq BPY BPY.UN N/A BPY BEP BEP.UN BEP N/A BIP BIP.UN BIP N/A BBU BBU.UN BBU N/A The following table outlines the composition of accumulated non-controlling interests presented within the company’s consolidated financial statements: AS AT DEC. 31 (MILLIONS) 2020 2019 BPY $ 25,986 $ 29,165 BEP 17,194 13,321 BIP 19,753 20,036 BBU 9,162 8,664 Individually immaterial subsidiaries with non-controlling interests 14,709 10,647 $ 86,804 $ 81,833
Disclosure of interests in subsidiaries [text block]	The following table presents the details of the company’s subsidiaries with significant non-controlling interests: Jurisdiction of Formation Ownership Interest Held by Non-Controlling Interests 1, 2 AS AT DEC. 31 2020 2019 Brookfield Property Partners L.P. (“BPY”) Bermuda 38.3 % 44.8 % Brookfield Renewable Partners L.P. (“BEP”) 3 Bermuda 49.3 % 39.5 % Brookfield Infrastructure Partners L.P. (“BIP”) 4 Bermuda 71.5 % 70.4 % Brookfield Business Partners L.P. (“BBU”) Bermuda 36.5 % 37.3 % 1. Control and associated voting rights of the limited partnerships (BPY, BEP, BIP and BBU) reside with their respective general partners which are wholly owned subsidiaries of the company. The company’s general partner interest is entitled to earn base management fees and incentive payments in the form of incentive distribution rights or performance fees. 2. The company’s ownership interest in BPY, BEP, BIP and BBU includes a combination of redemption-exchange units (REUs), Class A limited partnership units, special limited partnership units, general partnership units and units or shares that are exchangeable for units in our listed partnerships, in each subsidiary, where applicable. Each of BPY, BEP, BIP and BBU’s partnership capital includes its Class A limited partnership units whereas REUs and general partnership units are considered non-controlling interests for the respective partnerships. REUs share the same economic attributes in all respects except for the redemption right attached thereto. The REUs and general partnership units participate in earnings and distributions on a per unit basis equivalent to the per unit participation of the Class A limited partnership units of the subsidiary. 3. Ownership interest held by Non-Controlling Interests represents the combined units not held in BEP LP and Brookfield Renewable Corporation (“BEPC”). 4. Ownership interest held by Non-Controlling Interests represents the combined units not held in BIP LP and Brookfield Infrastructure Corporation (“BIPC”). The following tables contain summarized financial information of the Corporation, BFI, BFI II, BFL, BFL II, BF AUS, BF U.K., BIC and non-guarantor subsidiaries: AS AT AND FOR THE YEAR ENDED DEC. 31, 2020 (MILLIONS) The Corporation 1 BFI BFI II BFL BFL II BF AUS BF U.K. BIC Other Subsidiaries of the Company 2 Consolidating Adjustments 3 The Company Consolidated Revenues $ 626 $ 280 $ — $ 28 $ — $ — $ 2 $ 163 $ 70,385 $ (8,732) $ 62,752 Net income attributable to shareholders (134) 73 — — — — 1 91 6,368 (6,533) (134) Total assets 73,898 7,207 — 600 — — 233 4,280 350,687 (93,209) 343,696 Total liabilities 38,060 5,547 — 596 — — 3 2,690 206,877 (32,719) 221,054 Non-controlling interests – preferred equity — — — — — — 230 — — — 230 AS AT AND FOR THE YEAR ENDED DEC. 31, 2019 (MILLIONS) The Corporation 1 BFI BFI II BFL BFL II BF AUS BF U.K. BIC Other subsidiaries of the Company 2 Consolidating Adjustments 3 The Company Consolidated Revenues $ 104 $ 148 $ — $ — $ — $ — $ — $ 105 $ 73,310 $ (5,841) $ 67,826 Net income attributable to shareholders 2,807 40 — — — — — 85 3,493 (3,618) 2,807 Total assets 70,976 5,389 — — — — — 3,520 331,698 (87,614) 323,969 Total liabilities 35,963 3,994 — — — — — 2,239 195,586 (30,659) 207,123 Non-controlling interests – preferred equity — — — — — — — — — — — 1. This column accounts for investments in all subsidiaries of the Corporation under the equity method. 2. This column accounts for investments in all subsidiaries of the Corporation other than BFI, BFI II, BFL, BFL II, BF AUS, BF U.K. and BIC on a combined basis. 3. This column includes the necessary amounts to present the company on a consolidated basis.

ACQUISITIONS OF CONSOLIDATED EN

ACQUISITIONS OF CONSOLIDATED ENTITIES	12 Months Ended
ACQUISITIONS OF CONSOLIDATED ENTITIES	Dec. 31, 2020
Disclosure of detailed information about business combination [abstract]
ACQUISITIONS OF CONSOLIDATED ENTITIES	ACQUISITIONS OF CONSOLIDATED ENTITIES a) Completed During 2020 The following table summarizes the balance sheet impact as a result of business combinations that occurred in the year ended December 31, 2020 . The valuations of the assets acquired are still under evaluation and as such the business combinations have been accounted for on a provisional basis: (MILLIONS) Private Equity Infrastructure Real Estate, Renewable Power and Other Total Cash and cash equivalents $ 105 $ — $ 38 $ 143 Accounts receivable and other 1,441 408 76 1,925 Inventory 12 — 55 67 Property, plant and equipment 84 7,334 661 8,079 Intangible assets 27 532 66 625 Goodwill 63 27 55 145 Deferred income tax assets 31 — 15 46 Total assets 1,763 8,301 966 11,030 Less: Accounts payable and other (55) (2,518) (227) (2,800) Non-recourse borrowings (1,016) (2,356) (470) (3,842) Deferred income tax liabilities — (22) (12) (34) Non-controlling interests 1 (227) — (47) (274) (1,298) (4,896) (756) (6,950) Net assets acquired $ 465 $ 3,405 $ 210 $ 4,080 Consideration 2 $ 465 $ 3,405 $ 210 $ 4,080 1. Includes non-controlling interests recognized on business combinations measured as the proportionate share of fair value of the identifiable assets and liabilities on the date of acquisition. 2. Total consideration, including amounts paid by non-controlling interests that participated in the acquisition as investors in Brookfield-sponsored private funds or as co-investors. Brookfield recorded $621 million of revenue and $10 million of net income in 2020 from the acquired operations as a result of the acquisitions made during the year. If the acquisitions had occurred at the beginning of the year, they would have contributed $1.6 billion and $25 million to total revenue and net losses, respectively. The following table summarizes the balance sheet impact as a result of significant business combinations that occurred in 2020. The valuations of the assets acquired are still under evaluation and as such the business combinations have been accounted for on a provisional basis. Private Equity Infrastructure (MILLIONS) IndoStar Summit DigiTel Cash and cash equivalents $ 78 $ — Accounts receivable and other 1,391 408 Property, plant and equipment 9 7,334 Intangible assets 20 532 Goodwill 21 27 Deferred income tax assets 28 — Total assets 1,547 8,301 Less: Accounts payable and other (30) (2,518) Non-recourse borrowings (1,003) (2,356) Deferred income tax liabilities — (22) Non-controlling interests 1 (219) — (1,252) (4,896) Net assets acquired $ 295 $ 3,405 Consideration 2 $ 295 $ 3,405 1. Includes non-controlling interests recognized on business combinations measured as the proportionate share of fair value of the identifiable assets and liabilities on the date of acquisition. 2. Total consideration, including amounts paid by non-controlling interests that participated in the acquisition as investors in Brookfield-sponsored private funds or as co-investors. Private Equity During 2020, a subsidiary of the company, together with institutional partners, acquired a 57% ownership interest in IndoStar, an Indian financing company focused on commercial vehicle lending and affordable home finance. The transaction was accounted for as a business combination achieved in stages on May 27, July 8 and 9, 2020. The subsidiary’s previously held investment in IndoStar was remeasured to fair value prior to the acquisition of additional interests. The fair value approximated carrying value and no cumulative gain or loss arising from changes in the fair value of the investment was recognized. Total consideration of $295 million was comprised of an existing equity interest of $276 million and $19 million of cash on hand. Total revenues and net loss that would have been recorded if the transaction had occurred at the beginning of the year are $175 million and $37 million, respectively. Infrastructure On August 31, 2020, a subsidiary of the company, alongside institutional partners, acquired a 100% interest in an Indian telecom tower operation for a total of approximately $3.4 billion. Consideration paid was funded fully by cash on hand. Goodwill in the amount of $27 million was recognized, which is not deductible for income tax purposes. Total revenues and net income that would have been recorded if the transaction had occurred at the beginning of the year are $1.1 billion and $9 million, respectively. b) Completed During 2019 The following table summarizes the balance sheet impact as a result of business combinations that occurred in 2019. No material changes were made to those allocations disclosed in the 2019 consolidated financial statements: (MILLIONS) Private Equity Infrastructure Real Estate Renewable Power and Other Total Cash and cash equivalents $ 344 $ 94 $ 31 $ 6 $ 475 Accounts receivable and other 6,706 553 114 110 7,483 Assets classified as held for sale — 1,584 — — 1,584 Inventory 2,230 74 46 13 2,363 Equity accounted investments 847 48 — — 895 Investment properties — 211 3,458 — 3,669 Property, plant and equipment 6,650 8,710 785 1,308 17,453 Intangible assets 7,057 3,248 28 — 10,333 Goodwill 3,479 2,644 2 — 6,125 Deferred income tax assets 363 46 — — 409 Total assets 27,676 17,212 4,464 1,437 50,789 Less: Accounts payable and other (5,025) (2,425) (2,394) (101) (9,945) Non-recourse borrowings (1,084) (1,980) (537) (319) (3,920) Deferred income tax liabilities (1,142) (1,248) — (36) (2,426) Non-controlling interests 1 (1,749) (828) (88) — (2,665) (9,000) (6,481) (3,019) (456) (18,956) Net assets acquired $ 18,676 $ 10,731 $ 1,445 $ 981 $ 31,833 Consideration 2 $ 18,672 $ 10,731 $ 1,445 $ 981 $ 31,829 1. Includes non-controlling interests recognized on business combinations measured as the proportionate share of fair value of the identifiable assets and liabilities on the date of acquisition. 2. Total consideration, including amounts paid by non-controlling interests that participated in the acquisition as investors in Brookfield-sponsored private funds or as co-investors. Brookfield recorded $7.6 billion of revenue and $635 million of net losses in 2019 from the acquired operations as a result of the acquisitions made during the year. If the acquisitions had occurred at the beginning of the year, they would have contributed $14.7 billion and $189 million to total revenue and net income, respectively. The difference in our net losses since acquisition date compared to net income had we held our investments since January 1 primarily relate to the timing of acquisitions during the year as those with large contributors to net income were purchased in late 2019. In addition, our post-acquisition margins were reduced from the step-up in inventory costs resulting from purchase price allocations as well as restructuring costs in certain of our acquisitions. The following table summarizes the balance sheet impact as a result of significant business combinations that occurred in 2019 . No material changes were made to those allocations disclosed in the 2019 consolidated financial statements . Private Equity Infrastructure Real Estate Renewable Power (MILLIONS) Clarios Healthscope Genworth East-West Pipeline Genesee & Wyoming NorthRiver Aveo Group Arcadia Cash and cash equivalents $ 11 $ 25 $ 253 $ — $ 67 $ 2 $ 27 $ 3 Accounts receivable and other 1,503 196 4,796 66 461 — 92 31 Assets classified as held for sale — — — — 1,584 — — — Inventory 1,775 41 — 28 43 3 43 7 Equity accounted investments 838 9 — — 48 — — — Investment properties — — — — — — 3,458 — Property, plant and equipment 3,582 2,590 10 2,134 5,283 1,198 95 759 Intangible assets 6,420 280 243 295 1,992 74 2 — Goodwill 1,894 1,548 — — 2,042 218 — — Deferred income tax assets 181 136 — — 5 41 — — Total assets 16,204 4,825 5,302 2,523 11,525 1,536 3,717 800 Less: Accounts payable and other (1,998) (691) (1,954) (66) (2,071) (218) (2,368) (65) Non-recourse borrowings — — (342) — (1,567) — (537) — Deferred income tax liabilities (967) (79) (49) — (1,111) — — — Non-controlling interests 1 (469) — (1,279) (578) (250) — (88) — (3,434) (770) (3,624) (644) (4,999) (218) (2,993) (65) Net assets acquired $ 12,770 $ 4,055 $ 1,678 $ 1,879 $ 6,526 $ 1,318 $ 724 $ 735 Consideration 2 $ 12,770 $ 4,055 $ 1,674 $ 1,879 $ 6,526 $ 1,318 $ 724 $ 735 1. Includes non-controlling interests recognized on business combinations measured as the proportionate share of fair value of the identifiable assets and liabilities on the date of acquisition. 2. Total consideration, including amounts paid by non-controlling interests that participated in the acquisition as investors in Brookfield-sponsored private funds or as co-investors. Private Equity On April 30, 2019, a subsidiary of the company, along with institutional partners, acquired a 100% interest in Clarios, a global automotive battery business, for total consideration of $12.8 billion. Total consideration paid was funded with $2.9 billion of cash on hand, with $9.9 billion funded through non-recourse borrowings raised concurrently on closing. The acquisition resulted in recognition of $1.9 billion of goodwill, which is largely reflective of potential to innovate and grow the business. Approximately $20 million of the goodwill recognized is deductible for tax purposes. Total revenues and net loss that would have been recorded if the transaction had occurred at the beginning of the year are $8.3 billion and $74 million, respectively. On June 6, 2019, a subsidiary of the company, along with institutional partners, acquired a 100% interest in Healthscope Limited, an Australian private healthcare provider, for a total consideration of $4.1 billion. Total consideration paid was funded with $1.2 billion of cash on hand, with $2.9 billion funded through non-recourse borrowings raised concurrently on closing. The acquisition resulted in recognition of $1.5 billion of goodwill, which is largely reflective of potential growth from integration of the operations. None of the goodwill recognized is deductible for tax purposes. Total revenues and net loss that would have been recorded if the transaction had occurred at the beginning of the year are $1.6 billion and $81 million, respectively. On December 12, 2019, a subsidiary of the company, along with institutional partners, acquired a 57% interest in Genworth, a Canadian mortgage insurance services business, for total consideration of $1.7 billion, which was funded with cash on hand. The acquisition generated a bargain purchase gain of $4 million. Total revenues and net loss that would have been recorded if the transaction had occurred at the beginning of the year are $677 million and $321 million, respectively. Infrastructure On March 22, 2019, a subsidiary of the company, along with institutional partners, acquired a 100% interest in East-West Pipeline Limited, an Indian natural gas pipeline business, for total consideration of $1.9 billion. Consideration paid was funded with $959 million of cash on hand and the remainder funded through non-recourse borrowings raised concurrently on closing. Total revenues and net loss that would have been recorded if the transaction had occurred at the beginning of the year are $359 million and $65 million, respectively. On December 30, 2019, a subsidiary of the company, along with institutional partners, acquired a 100% interest in Genesee & Wyoming Inc., a short-haul rail operator in North America, for a total consideration of $6.5 billion. Consideration paid funded with $5.4 billion of cash on hand and the remainder funded through non-recourse borrowings raised concurrently on closing. The acquisition resulted in recognition of $2.0 billion of goodwill, which is largely reflective of potential growth prospects and strong market position. None of the goodwill recognized is deductible for tax purposes. Total revenues and net income that would have been recorded if the transaction had occurred at the beginning of the year are $2.3 billion and $235 million, respectively. On December 31, 2019, a subsidiary of the company, along with institutional partners, acquired a 100% interest in NorthRiver Midstream Inc., the federally regulated portion of Enbridge Inc.’s Canadian natural gas midstream business to be operated alongside the provincial assets acquired in 2018, for a total consideration of $1.3 billion. Consideration paid funded with $861 million of cash on hand and the remainder funded through non-recourse borrowings raised concurrently on closing. The acquisition resulted in recognition of $218 million of goodwill, which is largely reflective of potential growth prospects and strong market position. The goodwill recognized is deductible for tax purposes. Total revenues and net income that would have been recorded if the transaction had occurred at the beginning of the year are $271 million and $121 million, respectively. Real Estate On November 29, 2019, a subsidiary of the company, along with institutional partners, acquired an 84% interest in Aveo Group, a real estate company that develops, owns and operates a portfolio of retirement homes in Australia, for total consideration of $724 million. Consideration paid funded with $658 million of cash on hand and the remainder funded through non-recourse borrowings raised concurrently on closing. Total revenues and net loss that would have been recorded if the transaction had occurred at the beginning of the year are $174 million and $4 million, respectively. Renewable Power On September 26, 2019, a subsidiary of the company acquired a 100% interest in Arcadia, a distributed generation portfolio of renewable energy facilities in the U.S., for total consideration of $735 million funded by non-recourse borrowings raised concurrently on closing. Total revenues and net income that would have been recorded if the transaction had occurred at the beginning of the year are $67 million and $22 million, respectively.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	12 Months Ended
FAIR VALUE OF FINANCIAL INSTRUMENTS	Dec. 31, 2020
Disclosure of detailed information about financial instruments [abstract]
Disclosure of financial instruments [text block]	FAIR VALUE OF FINANCIAL INSTRUMENTS a) Financial Instruments Classification The following tables list the company’s financial instruments by their respective classification as at December 31, 2020 and 2019: AS AT DEC. 31, 2020 (MILLIONS) Fair Value Through Fair Value Through OCI Amortized Cost Total Financial assets 1 Cash and cash equivalents $ — $ — $ 9,933 $ 9,933 Other financial assets Government bonds 356 2,295 — 2,651 Corporate bonds 1,094 2,148 357 3,599 Fixed income securities and other 1,079 1,191 — 2,270 Common shares and warrants 3,287 3,227 — 6,514 Loans and notes receivable 2 110 — 2,586 2,696 5,926 8,861 2,943 17,730 Accounts receivable and other 3 1,766 — 11,906 13,672 $ 7,692 $ 8,861 $ 24,782 $ 41,335 Financial liabilities Corporate borrowings $ — $ — $ 9,077 $ 9,077 Non-recourse borrowings of managed entities Property-specific borrowings — — 128,556 128,556 Subsidiary borrowings — — 10,768 10,768 — — 139,324 139,324 Accounts payable and other 2 5,889 — 35,228 41,117 Subsidiary equity obligations 1,457 — 2,242 3,699 $ 7,346 $ — $ 185,871 $ 193,217 1. Financial assets include $9.7 billion of assets pledged as collateral. 2. Includes a shareholder loan of $500 million receivable from our U.S. gas pipeline. 3. Includes derivative instruments which are elected for hedge accounting, totaling $888 million included in accounts receivable and other and $2.4 billion included in accounts payable and other, for which changes in fair value are recorded in other comprehensive income. AS AT DEC. 31, 2019 (MILLIONS) Fair Value Through Fair Value Through OCI Amortized Cost Total Financial assets 1 Cash and cash equivalents $ — $ — $ 6,778 $ 6,778 Other financial assets Government bonds 156 2,247 — 2,403 Corporate bonds 1,118 1,839 310 3,267 Fixed income securities and other 1,131 619 — 1,750 Common shares and warrants 1,791 1,398 — 3,189 Loans and notes receivable 2 55 — 1,804 1,859 4,251 6,103 2,114 12,468 Accounts receivable and other 3 1,957 — 12,078 14,035 $ 6,208 $ 6,103 $ 20,970 $ 33,281 Financial liabilities Corporate borrowings $ — $ — $ 7,083 $ 7,083 Non-recourse borrowings of managed entities Property-specific borrowings — — 127,869 127,869 Subsidiary borrowings — — 8,423 8,423 — — 136,292 136,292 Accounts payable and other 2 4,528 — 32,196 36,724 Subsidiary equity obligations 1,896 — 2,236 4,132 $ 6,424 $ — $ 177,807 $ 184,231 1. Financial assets include $7.0 billion of assets pledged as collateral. 2. Includes a shareholder loan of $500 million receivable from our U.S. gas pipeline. 3. Includes derivative instruments which are elected for hedge accounting, totaling $950 million included in accounts receivable and other and $1.3 billion included in accounts payable and other, for which changes in fair value are recorded in other comprehensive income. Gains or losses arising from changes in the fair value through profit or loss (“FVTPL”) financial assets are presented in the Consolidated Statements of Operations in the period in which they arise. Dividends from FVTPL and fair value through other comprehensive income (“FVTOCI”) financial assets are recognized in the Consolidated Statements of Operations when the company’s right to receive payment is established. Interest on FVTOCI financial assets is calculated using the effective interest method and reported in our Consolidated Statements of Operations. FVTOCI debt and equity securities are recorded on the balance sheet at fair value with changes in fair value recorded through other comprehensive income. As at December 31, 2020 , the unrealized gains and losses relating to the fair value of FVTOCI securities amounted to $916 million (2019 – $479 million) and $322 million (2019 – $108 million), respectively. During the year ended December 31, 2020 , $7 million (2019 – $3 million) of net deferred losses previously recognized in accumulated other comprehensive income were reclassified to net income as a result of the disposition or impairment of certain of our FVTOCI financial assets that are not equity instruments. Included in cash and cash equivalents is $8.2 billion (2019 – $5.7 billion) of cash and $1.8 billion (2019 – $1.1 billion) of short-term deposits as at December 31, 2020 . b) Carrying and Fair Value The following table lists the company’s financial instruments by their respective classification as at December 31, 2020 and December 31, 2019: 2020 2019 AS AT DEC. 31 (MILLIONS) Carrying Fair Carrying Fair Financial assets Cash and cash equivalents $ 9,933 $ 9,933 $ 6,778 $ 6,778 Other financial assets Government bonds 2,651 2,651 2,403 2,403 Corporate bonds 3,599 3,599 3,267 3,267 Fixed income securities and other 2,270 2,270 1,750 1,750 Common shares and warrants 6,514 6,514 3,189 3,189 Loans and notes receivable 2,696 2,696 1,859 1,859 17,730 17,730 12,468 12,468 Accounts receivable and other 13,672 13,672 14,035 14,035 $ 41,335 $ 41,335 $ 33,281 $ 33,281 Financial liabilities Corporate borrowings $ 9,077 $ 10,540 $ 7,083 $ 7,933 Non-recourse borrowings of managed entities Property-specific borrowings 128,556 131,099 127,869 129,728 Subsidiary borrowings 10,768 11,085 8,423 8,632 139,324 142,184 136,292 138,360 Accounts payable and other 41,117 41,117 36,724 36,724 Subsidiary equity obligations 3,699 3,699 4,132 4,139 $ 193,217 $ 197,540 $ 184,231 $ 187,156 The current and non-current balances of other financial assets are as follows: AS AT DEC. 31 (MILLIONS) 2020 2019 Current $ 5,483 $ 3,605 Non-current 12,247 8,863 Total $ 17,730 $ 12,468 c) Fair Value Hierarchy Levels The following table categorizes financial assets and liabilities, which are carried at fair value, based upon the fair value hierarchy levels: 2020 2019 AS AT DEC. 31 (MILLIONS) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Financial assets Other financial assets Government bonds $ 7 $ 2,644 $ — $ — $ 2,403 $ — Corporate bonds 192 2,764 286 — 2,682 275 Fixed income securities and other 867 912 491 419 851 480 Common shares and warrants 4,548 577 1,389 1,966 421 802 Loans and notes receivables — 42 68 — 51 4 Accounts receivable and other 50 1,581 135 1 1,737 219 $ 5,664 $ 8,520 $ 2,369 $ 2,386 $ 8,145 $ 1,780 Financial liabilities Accounts payable and other $ 75 $ 5,090 $ 724 $ 93 $ 3,749 $ 686 Subsidiary equity obligations — 77 1,380 — 40 1,856 $ 75 $ 5,167 $ 2,104 $ 93 $ 3,789 $ 2,542 During the year ended December 31, 2020 and 2019, there were no transfers between Level 1, 2 or 3. Fair values of financial instruments are determined by reference to quoted bid or ask prices, as appropriate. If bid and ask prices are unavailable, the closing price of the most recent transaction of that instrument is used. In the absence of an active market, fair values are determined based on prevailing market rates for instruments with similar characteristics and risk profiles or internal or external valuation models, such as option pricing models and discounted cash flow analysis, using observable market inputs. The following table summarizes the valuation techniques and key inputs used in the fair value measurement of Level 2 financial instruments: (MILLIONS) Type of Asset/Liability Carrying Value Dec. 31, 2020 Valuation Techniques and Key Inputs Derivative assets/Derivative liabilities (accounts receivable/accounts payable) $ 1,581 / Foreign currency forward contracts – discounted cash flow model – forward exchange rates (from observable forward exchange rates at the end of the reporting period) and discounted at credit adjusted rate (5,090) Other financial assets 6,939 Valuation models based on observable market data Redeemable fund units (subsidiary equity obligations) (77) Aggregated market prices of underlying investments Fair values determined using valuation models requiring the use of unobservable inputs (Level 3 financial assets and liabilities) include assumptions concerning the amount and timing of estimated future cash flows and discount rates. In determining those unobservable inputs, the company uses observable external market inputs such as interest rate yield curves, currency rates and price and rate volatilities, as applicable, to develop assumptions regarding those unobservable inputs. The following table summarizes the valuation techniques and significant unobservable inputs used in the fair value measurement of Level 3 financial instruments: (MILLIONS) Type of Asset/Liability Carrying Value Dec. 31, 2020 Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Fixed income securities and other $ 491 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Corporate bonds 286 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Common shares and warrants 1,389 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Black-Scholes model • Volatility • Increases (decreases) in volatility increase (decreases) fair value • Term to maturity • Increases (decreases) in term to maturity increase (decrease) fair value Limited-life funds (subsidiary equity obligations) (1,380) Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value Derivative assets/Derivative liabilities (accounts receivable/payable) 135 / Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value (724) • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value The following table presents the changes in the balance of financial assets and liabilities classified as Level 3 for the years ended December 31, 2020 and 2019 : 2020 2019 AS AT AND FOR THE YEARS ENDED DEC. 31 (MILLIONS) Financial Financial Financial Financial Balance, beginning of year $ 1,780 $ 2,542 $ 795 $ 2,299 Fair value changes in net income (92) (111) 278 (27) Fair value changes in other comprehensive income 1 15 4 (10) 6 Additions, net of disposals 666 (331) 717 264 Balance, end of year $ 2,369 $ 2,104 $ 1,780 $ 2,542 1. Includes foreign currency translation. The following table categorizes liabilities measured at amortized cost, but for which fair values are disclosed based upon the fair value hierarchy levels: 2020 2019 AS AT DEC. 31, 2020 (MILLIONS) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Corporate borrowings $ 10,443 $ 97 $ — $ 7,841 $ 92 $ — Property-specific borrowings 3,406 57,927 69,766 6,467 52,386 70,875 Subsidiary borrowings 7,825 3 3,257 6,111 299 2,222 Subsidiary equity obligations — 73 2,169 — 73 2,170 Fair values of Level 2 and Level 3 liabilities measured at amortized cost but for which fair values are disclosed are determined using valuation techniques such as adjusted public pricing and discounted cash flows. d) Hedging Activities The company uses derivatives and non-derivative financial instruments to manage or maintain exposures to interest, currency, credit and other market risks. Derivative financial instruments are recorded at fair value. For certain derivatives which are used to manage exposures, the company determines whether hedge accounting can be applied. Hedge accounting is applied when the derivative is designated as a hedge of a specific exposure and there is assurance that it will continue to be highly effective as a hedge based on an expectation of offsetting cash flows or fair value. Hedge accounting is discontinued prospectively when the derivative no longer qualifies as a hedge or the hedging relationship is terminated. Once discontinued, the cumulative change in fair value of a derivative that was previously recorded in other comprehensive income by the application of hedge accounting is recognized in profit or loss over the remaining term of the original hedging relationship as amounts related to the hedged item are recognized in profit or loss. The assets or liabilities relating to unrealized mark-to-market gains and losses on derivative financial instruments are recorded in financial assets and financial liabilities, respectively. i. Cash Flow Hedges The company uses the following cash flow hedges: energy derivative contracts to hedge the sale of power; interest rate swaps to hedge the variability in cash flows or future cash flows related to a variable rate asset or liability; and equity derivatives to hedge long-term compensation arrangements. For the year ended December 31, 2020, pre-tax net unrealized losses of $479 million (2019 – losses of $89 million) were recorded in other comprehensive income for the effective portion of the cash flow hedges. As at December 31, 2020, there was an unrealized derivative liability balance of $689 million relating to derivative contracts designated as cash flow hedges (2019 – $210 million). ii. Net Investment Hedges The company uses foreign exchange contracts and foreign currency denominated debt instruments to manage its foreign currency exposures arising from net investments in foreign operations. For the year ended December 31, 2020, unrealized pre-tax net losses of $182 million (2019 – gains of $433 million) were recorded in other comprehensive income for the effective portion of hedges of net investments in foreign operations. As at December 31, 2020, there was an unrealized derivative liability balance of $868 million relating to derivative contracts designated as net investment hedges (2019 – asset balance of $551 million). e) Netting of Financial Instruments Financial assets and liabilities are offset with the net amount reported in the Consolidated Balance Sheets where the company currently has a legally enforceable right to offset and there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously. The company enters into derivative transactions under International Swaps and Derivatives Association (“ISDA”) master netting agreements. In general, under such agreements the amounts owed by each counterparty on a single day are aggregated into a single net amount that is payable by one party to the other. The agreements provide the company with the legal and enforceable right to offset these amounts and accordingly the following balances are presented net in the consolidated financial statements: Accounts Receivable and Other Accounts Payable and Other AS AT DEC. 31 (MILLIONS) 2020 2019 2020 2019 Gross amounts of financial instruments before netting $ 2,195 $ 2,380 $ 4,379 $ 2,853 Gross amounts of financial instruments set-off in Consolidated Balance Sheets (429) (423) (351) (366) Net amount of financial instruments in Consolidated Balance Sheets $ 1,766 $ 1,957 $ 4,028 $ 2,487
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS a) Financial Instruments Classification The following tables list the company’s financial instruments by their respective classification as at December 31, 2020 and 2019: AS AT DEC. 31, 2020 (MILLIONS) Fair Value Through Fair Value Through OCI Amortized Cost Total Financial assets 1 Cash and cash equivalents $ — $ — $ 9,933 $ 9,933 Other financial assets Government bonds 356 2,295 — 2,651 Corporate bonds 1,094 2,148 357 3,599 Fixed income securities and other 1,079 1,191 — 2,270 Common shares and warrants 3,287 3,227 — 6,514 Loans and notes receivable 2 110 — 2,586 2,696 5,926 8,861 2,943 17,730 Accounts receivable and other 3 1,766 — 11,906 13,672 $ 7,692 $ 8,861 $ 24,782 $ 41,335 Financial liabilities Corporate borrowings $ — $ — $ 9,077 $ 9,077 Non-recourse borrowings of managed entities Property-specific borrowings — — 128,556 128,556 Subsidiary borrowings — — 10,768 10,768 — — 139,324 139,324 Accounts payable and other 2 5,889 — 35,228 41,117 Subsidiary equity obligations 1,457 — 2,242 3,699 $ 7,346 $ — $ 185,871 $ 193,217 1. Financial assets include $9.7 billion of assets pledged as collateral. 2. Includes a shareholder loan of $500 million receivable from our U.S. gas pipeline. 3. Includes derivative instruments which are elected for hedge accounting, totaling $888 million included in accounts receivable and other and $2.4 billion included in accounts payable and other, for which changes in fair value are recorded in other comprehensive income. AS AT DEC. 31, 2019 (MILLIONS) Fair Value Through Fair Value Through OCI Amortized Cost Total Financial assets 1 Cash and cash equivalents $ — $ — $ 6,778 $ 6,778 Other financial assets Government bonds 156 2,247 — 2,403 Corporate bonds 1,118 1,839 310 3,267 Fixed income securities and other 1,131 619 — 1,750 Common shares and warrants 1,791 1,398 — 3,189 Loans and notes receivable 2 55 — 1,804 1,859 4,251 6,103 2,114 12,468 Accounts receivable and other 3 1,957 — 12,078 14,035 $ 6,208 $ 6,103 $ 20,970 $ 33,281 Financial liabilities Corporate borrowings $ — $ — $ 7,083 $ 7,083 Non-recourse borrowings of managed entities Property-specific borrowings — — 127,869 127,869 Subsidiary borrowings — — 8,423 8,423 — — 136,292 136,292 Accounts payable and other 2 4,528 — 32,196 36,724 Subsidiary equity obligations 1,896 — 2,236 4,132 $ 6,424 $ — $ 177,807 $ 184,231 1. Financial assets include $7.0 billion of assets pledged as collateral. 2. Includes a shareholder loan of $500 million receivable from our U.S. gas pipeline. 3. Includes derivative instruments which are elected for hedge accounting, totaling $950 million included in accounts receivable and other and $1.3 billion included in accounts payable and other, for which changes in fair value are recorded in other comprehensive income. Gains or losses arising from changes in the fair value through profit or loss (“FVTPL”) financial assets are presented in the Consolidated Statements of Operations in the period in which they arise. Dividends from FVTPL and fair value through other comprehensive income (“FVTOCI”) financial assets are recognized in the Consolidated Statements of Operations when the company’s right to receive payment is established. Interest on FVTOCI financial assets is calculated using the effective interest method and reported in our Consolidated Statements of Operations. FVTOCI debt and equity securities are recorded on the balance sheet at fair value with changes in fair value recorded through other comprehensive income. As at December 31, 2020 , the unrealized gains and losses relating to the fair value of FVTOCI securities amounted to $916 million (2019 – $479 million) and $322 million (2019 – $108 million), respectively. During the year ended December 31, 2020 , $7 million (2019 – $3 million) of net deferred losses previously recognized in accumulated other comprehensive income were reclassified to net income as a result of the disposition or impairment of certain of our FVTOCI financial assets that are not equity instruments. Included in cash and cash equivalents is $8.2 billion (2019 – $5.7 billion) of cash and $1.8 billion (2019 – $1.1 billion) of short-term deposits as at December 31, 2020 . b) Carrying and Fair Value The following table lists the company’s financial instruments by their respective classification as at December 31, 2020 and December 31, 2019: 2020 2019 AS AT DEC. 31 (MILLIONS) Carrying Fair Carrying Fair Financial assets Cash and cash equivalents $ 9,933 $ 9,933 $ 6,778 $ 6,778 Other financial assets Government bonds 2,651 2,651 2,403 2,403 Corporate bonds 3,599 3,599 3,267 3,267 Fixed income securities and other 2,270 2,270 1,750 1,750 Common shares and warrants 6,514 6,514 3,189 3,189 Loans and notes receivable 2,696 2,696 1,859 1,859 17,730 17,730 12,468 12,468 Accounts receivable and other 13,672 13,672 14,035 14,035 $ 41,335 $ 41,335 $ 33,281 $ 33,281 Financial liabilities Corporate borrowings $ 9,077 $ 10,540 $ 7,083 $ 7,933 Non-recourse borrowings of managed entities Property-specific borrowings 128,556 131,099 127,869 129,728 Subsidiary borrowings 10,768 11,085 8,423 8,632 139,324 142,184 136,292 138,360 Accounts payable and other 41,117 41,117 36,724 36,724 Subsidiary equity obligations 3,699 3,699 4,132 4,139 $ 193,217 $ 197,540 $ 184,231 $ 187,156 The current and non-current balances of other financial assets are as follows: AS AT DEC. 31 (MILLIONS) 2020 2019 Current $ 5,483 $ 3,605 Non-current 12,247 8,863 Total $ 17,730 $ 12,468 c) Fair Value Hierarchy Levels The following table categorizes financial assets and liabilities, which are carried at fair value, based upon the fair value hierarchy levels: 2020 2019 AS AT DEC. 31 (MILLIONS) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Financial assets Other financial assets Government bonds $ 7 $ 2,644 $ — $ — $ 2,403 $ — Corporate bonds 192 2,764 286 — 2,682 275 Fixed income securities and other 867 912 491 419 851 480 Common shares and warrants 4,548 577 1,389 1,966 421 802 Loans and notes receivables — 42 68 — 51 4 Accounts receivable and other 50 1,581 135 1 1,737 219 $ 5,664 $ 8,520 $ 2,369 $ 2,386 $ 8,145 $ 1,780 Financial liabilities Accounts payable and other $ 75 $ 5,090 $ 724 $ 93 $ 3,749 $ 686 Subsidiary equity obligations — 77 1,380 — 40 1,856 $ 75 $ 5,167 $ 2,104 $ 93 $ 3,789 $ 2,542 During the year ended December 31, 2020 and 2019, there were no transfers between Level 1, 2 or 3. Fair values of financial instruments are determined by reference to quoted bid or ask prices, as appropriate. If bid and ask prices are unavailable, the closing price of the most recent transaction of that instrument is used. In the absence of an active market, fair values are determined based on prevailing market rates for instruments with similar characteristics and risk profiles or internal or external valuation models, such as option pricing models and discounted cash flow analysis, using observable market inputs. The following table summarizes the valuation techniques and key inputs used in the fair value measurement of Level 2 financial instruments: (MILLIONS) Type of Asset/Liability Carrying Value Dec. 31, 2020 Valuation Techniques and Key Inputs Derivative assets/Derivative liabilities (accounts receivable/accounts payable) $ 1,581 / Foreign currency forward contracts – discounted cash flow model – forward exchange rates (from observable forward exchange rates at the end of the reporting period) and discounted at credit adjusted rate (5,090) Other financial assets 6,939 Valuation models based on observable market data Redeemable fund units (subsidiary equity obligations) (77) Aggregated market prices of underlying investments Fair values determined using valuation models requiring the use of unobservable inputs (Level 3 financial assets and liabilities) include assumptions concerning the amount and timing of estimated future cash flows and discount rates. In determining those unobservable inputs, the company uses observable external market inputs such as interest rate yield curves, currency rates and price and rate volatilities, as applicable, to develop assumptions regarding those unobservable inputs. The following table summarizes the valuation techniques and significant unobservable inputs used in the fair value measurement of Level 3 financial instruments: (MILLIONS) Type of Asset/Liability Carrying Value Dec. 31, 2020 Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Fixed income securities and other $ 491 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Corporate bonds 286 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Common shares and warrants 1,389 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Black-Scholes model • Volatility • Increases (decreases) in volatility increase (decreases) fair value • Term to maturity • Increases (decreases) in term to maturity increase (decrease) fair value Limited-life funds (subsidiary equity obligations) (1,380) Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value Derivative assets/Derivative liabilities (accounts receivable/payable) 135 / Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value (724) • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value The following table presents the changes in the balance of financial assets and liabilities classified as Level 3 for the years ended December 31, 2020 and 2019 : 2020 2019 AS AT AND FOR THE YEARS ENDED DEC. 31 (MILLIONS) Financial Financial Financial Financial Balance, beginning of year $ 1,780 $ 2,542 $ 795 $ 2,299 Fair value changes in net income (92) (111) 278 (27) Fair value changes in other comprehensive income 1 15 4 (10) 6 Additions, net of disposals 666 (331) 717 264 Balance, end of year $ 2,369 $ 2,104 $ 1,780 $ 2,542 1. Includes foreign currency translation. The following table categorizes liabilities measured at amortized cost, but for which fair values are disclosed based upon the fair value hierarchy levels: 2020 2019 AS AT DEC. 31, 2020 (MILLIONS) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Corporate borrowings $ 10,443 $ 97 $ — $ 7,841 $ 92 $ — Property-specific borrowings 3,406 57,927 69,766 6,467 52,386 70,875 Subsidiary borrowings 7,825 3 3,257 6,111 299 2,222 Subsidiary equity obligations — 73 2,169 — 73 2,170 Fair values of Level 2 and Level 3 liabilities measured at amortized cost but for which fair values are disclosed are determined using valuation techniques such as adjusted public pricing and discounted cash flows. d) Hedging Activities The company uses derivatives and non-derivative financial instruments to manage or maintain exposures to interest, currency, credit and other market risks. Derivative financial instruments are recorded at fair value. For certain derivatives which are used to manage exposures, the company determines whether hedge accounting can be applied. Hedge accounting is applied when the derivative is designated as a hedge of a specific exposure and there is assurance that it will continue to be highly effective as a hedge based on an expectation of offsetting cash flows or fair value. Hedge accounting is discontinued prospectively when the derivative no longer qualifies as a hedge or the hedging relationship is terminated. Once discontinued, the cumulative change in fair value of a derivative that was previously recorded in other comprehensive income by the application of hedge accounting is recognized in profit or loss over the remaining term of the original hedging relationship as amounts related to the hedged item are recognized in profit or loss. The assets or liabilities relating to unrealized mark-to-market gains and losses on derivative financial instruments are recorded in financial assets and financial liabilities, respectively. i. Cash Flow Hedges The company uses the following cash flow hedges: energy derivative contracts to hedge the sale of power; interest rate swaps to hedge the variability in cash flows or future cash flows related to a variable rate asset or liability; and equity derivatives to hedge long-term compensation arrangements. For the year ended December 31, 2020, pre-tax net unrealized losses of $479 million (2019 – losses of $89 million) were recorded in other comprehensive income for the effective portion of the cash flow hedges. As at December 31, 2020, there was an unrealized derivative liability balance of $689 million relating to derivative contracts designated as cash flow hedges (2019 – $210 million). ii. Net Investment Hedges The company uses foreign exchange contracts and foreign currency denominated debt instruments to manage its foreign currency exposures arising from net investments in foreign operations. For the year ended December 31, 2020, unrealized pre-tax net losses of $182 million (2019 – gains of $433 million) were recorded in other comprehensive income for the effective portion of hedges of net investments in foreign operations. As at December 31, 2020, there was an unrealized derivative liability balance of $868 million relating to derivative contracts designated as net investment hedges (2019 – asset balance of $551 million). e) Netting of Financial Instruments Financial assets and liabilities are offset with the net amount reported in the Consolidated Balance Sheets where the company currently has a legally enforceable right to offset and there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously. The company enters into derivative transactions under International Swaps and Derivatives Association (“ISDA”) master netting agreements. In general, under such agreements the amounts owed by each counterparty on a single day are aggregated into a single net amount that is payable by one party to the other. The agreements provide the company with the legal and enforceable right to offset these amounts and accordingly the following balances are presented net in the consolidated financial statements: Accounts Receivable and Other Accounts Payable and Other AS AT DEC. 31 (MILLIONS) 2020 2019 2020 2019 Gross amounts of financial instruments before netting $ 2,195 $ 2,380 $ 4,379 $ 2,853 Gross amounts of financial instruments set-off in Consolidated Balance Sheets (429) (423) (351) (366) Net amount of financial instruments in Consolidated Balance Sheets $ 1,766 $ 1,957 $ 4,028 $ 2,487

ACCOUNTS RECEIVABLE AND OTHER

ACCOUNTS RECEIVABLE AND OTHER	12 Months Ended
ACCOUNTS RECEIVABLE AND OTHER	Dec. 31, 2020
Subclassifications of assets, liabilities and equities [abstract]
Disclosure of trade and other receivables [text block]	ACCOUNTS RECEIVABLE AND OTHER AS AT DEC. 31 (MILLIONS) Note 2020 2019 Accounts receivable (a) $ 10,113 $ 11,129 Prepaid expenses and other assets (a) 6,335 5,636 Restricted cash (b) 2,395 1,595 Sustainable resources 85 109 Total $ 18,928 $ 18,469 The current and non-current balances of accounts receivable and other are as follows: AS AT DEC. 31 (MILLIONS) 2020 2019 Current $ 14,187 $ 13,862 Non-current 4,741 4,607 Total $ 18,928 $ 18,469 a) Accounts Receivable and Other Assets Accounts receivable includes contract assets of $632 million (2019 – $682 million). Contract assets relate primarily to work-in-progress on our long-term construction services contracts for which customers have not yet been billed. b) Restricted Cash Restricted cash primarily relates to the financing arrangements including defeasement of debt obligations, debt service accounts and deposits held by the company’s insurance operations across our segments. c) Sustainable Resources Additions of $75 million is attributable to the plantation of soybeans throughout the year. Dispositions of $270 million in 2019 related to the sale of our investment in Acadian. No disposition incurred in 2020. The following table presents the change in the balance of timberlands and other agricultural assets: AS AT AND FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 Balance, beginning of year $ 109 $ 333 Additions 75 77 Dispositions — (270) Fair value adjustments 2 12 Decrease due to harvest (61) (39) Foreign currency changes (40) (4) Balance, end of year $ 85 $ 109 The carrying values are based on external appraisals completed annually as at December 31. The appraisals utilize a combination of the discounted cash flow and sales comparison approaches to arrive at the estimated value. The significant unobservable inputs (Level 3) included in the discounted cash flow models used when determining the fair value of standing timber and agricultural assets include: Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Timber / agricultural prices • Increases (decreases) in price increase (decrease) fair value • Increases (decreases) in price tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from price • Discount rate /terminal capitalization rate • Increases (decreases) in discount rate or terminal capitalization rate decrease (increase) fair value • Decreases (increases) in discount rates or terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from rates • Exit Date • Increases (decreases) in exit date decrease (increase) fair value • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year

INVENTORY

INVENTORY	12 Months Ended
INVENTORY	Dec. 31, 2020
Inventories [Abstract]
Disclosure of inventories [text block]	INVENTORY AS AT DEC. 31 (MILLIONS) 2020 2019 Residential properties under development $ 2,816 $ 3,007 Land held for development 2,015 1,781 Completed residential properties 743 998 Industrial products 2,611 2,816 Other 1 2,175 1,670 Total $ 10,360 $ 10,272 1. Other includes fuel inventory of $651 million (2019 – $690 million) and office developments of $581 million (2019 – $243 million). The current and non-current balances of inventory are as follows: AS AT DEC. 31 (MILLIONS) 2020 2019 Current $ 6,337 $ 7,054 Non-current 4,023 3,218 Total $ 10,360 $ 10,272 During the year ended December 31, 2020, the company recognized $24.6 billion (2019 – $26.5 billion) of inventory relating to cost of goods sold and a $107 million expense of impaired inventory (2019 – $38 million). The carrying amount of inventory pledged as collateral at December 31, 2020 was $6.0 billion (2019 – $4.7 billion).

HELD FOR SALE

HELD FOR SALE	12 Months Ended
HELD FOR SALE	Dec. 31, 2020
Non-current assets or disposal groups classified as held for sale or as held for distribution to owners [abstract]
HELD FOR SALE	HELD FOR SALE The following is a summary of the assets and liabilities classified as held for sale as at December 31, 2020 and 2019: AS AT DEC. 31 (MILLIONS) Real Estate Renewable Power Private Equity 2020 Total 2019 Total Assets Cash and cash equivalents $ 1 $ 5 $ — $ 6 $ 58 Accounts receivable and other 62 1 4 67 174 Equity accounted investments 208 — 1,325 1,533 413 Investment properties 4,224 — — 4,224 251 Property, plant and equipment — 51 31 82 1,730 Other long-term assets 5 — — 5 872 Deferred income tax assets — — — — 4 Assets classified as held for sale $ 4,500 $ 57 $ 1,360 $ 5,917 $ 3,502 Liabilities Accounts payable and other $ 115 $ 3 $ — $ 118 $ 223 Non-recourse borrowings of managed entities 2,230 4 — 2,234 1,071 Deferred income tax liabilities — 7 — 7 396 Liabilities associated with assets classified as held for sale $ 2,345 $ 14 $ — $ 2,359 $ 1,690 As at December 31, 2020, assets held for sale within our Real Estate segment include an office asset in Australia, a multifamily asset in the U.S., two malls in the U.S., a mall in Brazil and four triple net lease assets in the U.S. Assets held for sale within our Renewable Power segment include solar assets in Asia. Within our Private Equity segment, assets held for sale relate to Norbord. For the year ended December 31, 2020, we disposed of $6.7 billion and $2.6 billion of assets and liabilities held for sale, respectively. The majority of disposals relate to the sale of the Australian rail operation of Genesee & Wyoming, the pathology business at Healthscope, the Colombian regulated distribution business, and the wind portfolio in Ireland.

EQUITY ACCOUNTED INVESTMENTS

EQUITY ACCOUNTED INVESTMENTS	12 Months Ended
EQUITY ACCOUNTED INVESTMENTS	Dec. 31, 2020
Investments in subsidiaries, joint ventures and associates [abstract]
EQUITY ACCOUNTED INVESTMENTS	EQUITY ACCOUNTED INVESTMENTS The following table presents the ownership interests and carrying values of the company’s investments in associates and joint ventures, all of which are accounted for using the equity method: Ownership Interest 1 Carrying Value AS AT DEC. 31 (MILLIONS) 2020 2019 2020 2019 Oaktree 62 % 61 % $ 5,317 $ 5,231 Real estate Associates LP investments and other 16 – 50% 30 – 90% 136 307 Joint ventures Core office 15 – 56% 14 – 56% 8,866 9,440 Core retail 22 – 68% 12 – 68% 9,684 10,555 LP investments and other 9 – 84% 18 – 80% 2,338 2,012 21,024 22,314 Infrastructure Associates Utilities 2 11 – 50% 11 – 50% 1,010 962 Transport 21 – 58% 26 – 58% 5,114 4,033 Data 45 – 50% 45 – 50% 3,209 2,920 Other 22 – 50% 22 – 50% 130 156 Joint ventures Midstream 50 % 50 % 841 716 Other 50 % 50 % 226 185 10,530 8,972 Private equity Associates Norbord — % 43 % — 1,185 Industrial operations 24 – 54% 24 – 54% 834 854 Other 14 – 70% 25 – 90% 1,789 557 2,623 2,596 Renewable power and other Renewable power associates 12 – 60% 14 – 60% 1,444 1,154 Other equity accounted investments 3 14 – 77% 16 – 85% 389 431 1,833 1,585 Total $ 41,327 $ 40,698 1. Joint ventures or associates in which the ownership interest is greater than 50% represent investments for which control is either shared or does not exist resulting in the investment being equity accounted. 2. The current and comparative period include a shareholder loan of $500 million receivable from our investment in associate in a U.S. gas pipeline business. 3. Carrying value of joint ventures in other equity accounted investments is $346 million (2019 – $383 million). The following tables presents the change in the balance of investments in associates and joint ventures: AS AT AND FOR THE YEAR ENDED DEC. 31 (MILLIONS) Oaktree Real Estate Infrastructure Private Equity Renewable Power and Other 2020 Total 2019 Total Balance, beginning of year $ 5,231 $ 22,314 $ 8,972 $ 2,596 $ 1,585 $ 40,698 $ 33,647 Additions, net of (disposals) 1 91 517 1,771 (49) 238 2,568 4,676 Acquisitions through business combinations — — — — — — 895 Share of net income (loss) 189 (933) 442 153 70 (79) 2,498 Distributions received (194) (726) (290) (75) (98) (1,383) (1,300) Share of other comprehensive income (loss) — (267) 165 25 31 (46) 317 Foreign currency translation and other — 119 (530) (27) 7 (431) (35) Balance, end of year $ 5,317 $ 21,024 $ 10,530 $ 2,623 $ 1,833 $ 41,327 $ 40,698 1. Includes assets sold, amounts reclassified to held for sale. Additions, net of disposals, of $2.6 billion during the year relate primarily to the acquisition of a $1.3 billion interest in BrandSafway in the first quarter of 2020, the acquisition of a $1.3 billion interest in Cheniere in the third quarter of 2020, and acquisitions within our real estate group. These acquisitions were partially offset by the reclassification of Norbord to held for sale as at December 31, 2020. The following table presents current and non-current assets, as well as current and non-current liabilities of the company’s investments in associates and joint ventures: 2020 2019 AS AT DEC. 31 (MILLIONS) Current Assets Non-Current Assets Current Liabilities Non-Current Liabilities Current Assets Non-Current Assets Current Liabilities Non-Current Liabilities Oaktree $ 2,253 $ 17,056 $ 2,146 $ 7,487 $ 1,497 $ 16,870 $ 1,172 $ 7,434 Real estate Associates LP investments and other 21 1,207 42 958 32 955 15 390 Joint ventures Core office 2,496 36,668 3,485 17,107 2,790 36,861 4,824 13,987 Core retail 1,230 33,082 673 13,721 992 35,726 615 14,334 LP investments and other 1,279 12,288 903 7,290 648 9,559 648 5,247 Infrastructure Associates Utilities 646 6,142 487 4,238 869 6,500 687 4,152 Transport 1,223 25,078 1,929 9,538 1,199 18,028 1,953 8,359 Data 841 13,308 1,263 6,081 912 11,636 1,042 4,908 Other 34 356 32 143 21 374 27 133 Joint ventures Midstream 161 6,157 230 3,945 154 5,455 249 3,927 Other 43 685 30 299 35 299 6 93 Private equity Associates Norbord — — — — 462 3,911 260 1,355 Industrial operations 1,096 736 505 222 1,038 743 485 256 Other 2,077 9,303 1,357 6,697 793 2,362 697 1,562 Renewable power and other Renewable power associates 1,355 7,492 635 3,307 539 5,967 535 2,530 Other equity accounted investments 210 790 67 178 1,022 — 118 113 $ 14,965 $ 170,348 $ 13,784 $ 81,211 $ 13,003 $ 155,246 $ 13,333 $ 68,780 Certain of the company’s investments in associates are subject to restrictions on the extent to which they can remit funds to the company in the form of cash dividends or repay loans and advances as a result of borrowing arrangements, regulatory restrictions, and other contractual requirements. The following table presents total revenues, net income and other comprehensive income (“OCI”) of the company’s investments in associates and joint ventures: 2020 2019 FOR THE YEARS ENDED DEC. 31 (MILLIONS) Revenue Net Income OCI Revenue Net Income OCI Oaktree $ 1,104 $ 158 $ (2) $ 295 $ 12 $ (6) Real estate Associates LP investments and other 99 (145) (941) 423 127 50 Joint ventures Core office 1,866 311 (113) 2,386 1,869 (105) Core retail 1,944 (1,471) — 2,430 2,114 — LP investments and other 945 (376) 5 714 23 — Infrastructure Associates Utilities 1,715 364 (205) 1,046 354 26 Transport 4,054 169 (1,451) 3,277 3 363 Data 2,245 293 374 1,447 (38) 57 Other 41 (23) (245) 55 (45) (210) Joint ventures Midstream 736 244 — 696 358 — Other 107 2 33 74 19 — Private equity Associates Norbord 2,407 386 12 1,731 (165) 13 Industrial operations 2,713 132 — 1,770 122 — Other 4,332 (130) 48 1,007 247 26 Renewable power and other Renewable power associates 737 219 174 431 88 242 Other equity accounted investments 192 56 (2) 400 104 1 $ 25,237 $ 189 $ (2,313) $ 18,182 $ 5,192 $ 457 Certain of the company’s investments are publicly listed entities with active pricing in a liquid market. The fair value of the most significant listed entity, Norbord as at December 31, 2020, based on the publicly listed price in comparison to the company’s carrying value is $nil (2019 – $0.9 billion) and $nil (2019 – $1.2 billion)

INVESTMENT PROPERTIES

INVESTMENT PROPERTIES	12 Months Ended
INVESTMENT PROPERTIES	Dec. 31, 2020
Investment property [abstract]
INVESTMENT PROPERTIES	INVESTMENT PROPERTIES The following table presents the change in the fair value of the company’s investment properties: AS AT AND FOR THE YEAR ENDED DEC. 31 (MILLIONS) 2020 2019 Fair value, beginning of year $ 96,686 $ 84,309 Additions 8,180 11,638 Acquisitions through business combinations — 3,669 Changes in basis of accounting 1 193 928 Dispositions 2 (9,284) (6,029) Fair value changes (269) 1,710 Foreign currency translation and other 1,276 461 Fair value, end of year 3 $ 96,782 $ 96,686 1. 2019 balance includes the company’s adoption of IFRS 16 resulted in the recognition of ROU investment properties that were previously off-balance sheet items. 2. Includes amounts reclassified to held for sale. 3. As at December 31, 2020, the ending balance includes $90.4 billion (2019 – $88.5 billion) of investment properties leased to third parties. Also includes $3.3 billion of ROU investment properties (December 31, 2019 – $2.6 billion). Investment properties include the company’s office, retail, multifamily, and other properties as well as highest and best-use land within the company’s sustainable resources operations. Additions of $8.2 billion primarily relates to the enhancement or expansion of properties through capital expenditures and the purchase of investment properties during the year. Dispositions of $9.3 billion (2019 – $6.0 billion) included the sale of multiple triple net lease investment properties, a portfolio of investment properties within our directly held Fairfield investment, a self-storage portfolio, and a core office asset in London. In addition, the current period includes the reclassification of a portfolio held within Forest City to assets held for sale. Investment properties generated $5.7 billion (2019 – $5.8 billion) in rental income and incurred $2.5 billion (2019 – $2.4 billion) in direct operating expenses. Most of our investment properties are pledged as collateral for the non-recourse borrowings at their respective properties. The following table presents our investment properties measured at fair value: AS AT DEC. 31 (MILLIONS) 2020 2019 Core office United States $ 15,093 $ 15,748 Canada 5,102 4,806 Australia 2,731 2,300 Europe 2,699 2,867 Brazil 309 361 Core retail 20,324 21,561 LP investments and other LP investments office 8,727 8,756 LP investments retail 2,538 2,812 Logistics — 94 Multifamily 2,442 2,937 Triple net lease 3,719 4,508 Self-storage — 1,007 Student housing 2,962 2,605 Manufactured housing 2,784 2,446 Mixed-use 3,096 2,703 Directly held real estate properties 22,350 19,814 Other investment properties 1,906 1,361 $ 96,782 $ 96,686 Significant unobservable inputs (Level 3) are utilized when determining the fair value of investment properties. The significant Level 3 inputs include: Valuation Technique Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis 1 • Future cash flows – primarily driven by net operating income • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from terminal capitalization rates • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value • Increases (decreases) in the investment horizon tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year 1. Certain investment properties are valued using the direct capitalization method instead of a discounted cash flow model. Under the direct capitalization method, a capitalization rate is applied to estimated current year cash flows. The company’s investment properties are diversified by asset type, asset class, geography and market. Therefore, there may be mitigating factors in addition to those noted above such as changes to assumptions that vary in direction and magnitude across different geographies and markets. The following table summarizes the key valuation metrics of the company’s investment properties: 2020 2019 AS AT DEC. 31 Discount Terminal Investment Discount Rate Terminal Capitalization Rate Investment Horizon (years) Core office United States 6.9 % 5.6 % 12 7.0 % 5.6 % 12 Canada 5.9 % 5.2 % 10 5.9 % 5.2 % 10 Australia 6.6 % 5.7 % 10 6.8 % 5.9 % 10 Europe 5.2 % 3.8 % 10 4.6 % 4.1 % 11 Brazil 7.6 % 7.0 % 10 7.9 % 7.4 % 10 Core retail 7.0 % 5.3 % 10 6.7 % 5.4 % 10 LP investments and other LP investments office 9.7 % 7.2 % 7 10.0 % 7.3 % 7 LP investments retail 8.7 % 7.0 % 10 8.8 % 7.3 % 10 Mixed-use 7.3 % 5.2 % 10 7.6 % 5.4 % 10 Logistics 1 — % n/a n/a 5.8 % n/a n/a Multifamily 1 4.9 % n/a n/a 5.1 % n/a n/a Triple net lease 1 6.2 % n/a n/a 6.3 % n/a n/a Self-storage 1 — % n/a n/a 5.6 % n/a n/a Student housing 1 4.9 % n/a n/a 5.8 % n/a n/a Manufactured housing 1 4.8 % n/a n/a 5.5 % n/a n/a Directly held real estate properties 2 5.1 – 9.3% 5.4 % 19 5.2 – 9.2% 6.1 % 19 Other investment properties 1,3 5.0 – 8.7% n/a n/a 8.9 % n/a n/a 1. Logistics, multifamily, triple net lease, self-storage, student housing, manufactured housing and other investment properties are valued using the direct capitalization method. The rates presented as the discount rate represent the overall implied capitalization rate. The terminal capitalization rate and the investment horizon are not applicable. 2. We use either the discounted cash flow or the direct capitalization method when valuing our directly held real estate properties. The rates presented as the discount rate represent the overall implied capitalization rates for investment properties that are valued using the direct capitalization approach.
Disclosure of significant unobservable inputs used in fair value measurement of assets [text block]	The following table summarizes the valuation techniques and significant unobservable inputs used in the fair value measurement of Level 3 financial instruments: (MILLIONS) Type of Asset/Liability Carrying Value Dec. 31, 2020 Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Fixed income securities and other $ 491 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Corporate bonds 286 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Common shares and warrants 1,389 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Black-Scholes model • Volatility • Increases (decreases) in volatility increase (decreases) fair value • Term to maturity • Increases (decreases) in term to maturity increase (decrease) fair value Limited-life funds (subsidiary equity obligations) (1,380) Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value Derivative assets/Derivative liabilities (accounts receivable/payable) 135 / Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value (724) • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Timber / agricultural prices • Increases (decreases) in price increase (decrease) fair value • Increases (decreases) in price tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from price • Discount rate /terminal capitalization rate • Increases (decreases) in discount rate or terminal capitalization rate decrease (increase) fair value • Decreases (increases) in discount rates or terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from rates • Exit Date • Increases (decreases) in exit date decrease (increase) fair value • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year Significant unobservable inputs (Level 3) are utilized when determining the fair value of investment properties. The significant Level 3 inputs include: Valuation Technique Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis 1 • Future cash flows – primarily driven by net operating income • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from terminal capitalization rates • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value • Increases (decreases) in the investment horizon tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year 1. Certain investment properties are valued using the direct capitalization method instead of a discounted cash flow model. Under the direct capitalization method, a capitalization rate is applied to estimated current year cash flows. The following table summarizes the key valuation metrics of the company’s investment properties: 2020 2019 AS AT DEC. 31 Discount Terminal Investment Discount Rate Terminal Capitalization Rate Investment Horizon (years) Core office United States 6.9 % 5.6 % 12 7.0 % 5.6 % 12 Canada 5.9 % 5.2 % 10 5.9 % 5.2 % 10 Australia 6.6 % 5.7 % 10 6.8 % 5.9 % 10 Europe 5.2 % 3.8 % 10 4.6 % 4.1 % 11 Brazil 7.6 % 7.0 % 10 7.9 % 7.4 % 10 Core retail 7.0 % 5.3 % 10 6.7 % 5.4 % 10 LP investments and other LP investments office 9.7 % 7.2 % 7 10.0 % 7.3 % 7 LP investments retail 8.7 % 7.0 % 10 8.8 % 7.3 % 10 Mixed-use 7.3 % 5.2 % 10 7.6 % 5.4 % 10 Logistics 1 — % n/a n/a 5.8 % n/a n/a Multifamily 1 4.9 % n/a n/a 5.1 % n/a n/a Triple net lease 1 6.2 % n/a n/a 6.3 % n/a n/a Self-storage 1 — % n/a n/a 5.6 % n/a n/a Student housing 1 4.9 % n/a n/a 5.8 % n/a n/a Manufactured housing 1 4.8 % n/a n/a 5.5 % n/a n/a Directly held real estate properties 2 5.1 – 9.3% 5.4 % 19 5.2 – 9.2% 6.1 % 19 Other investment properties 1,3 5.0 – 8.7% n/a n/a 8.9 % n/a n/a 1. Logistics, multifamily, triple net lease, self-storage, student housing, manufactured housing and other investment properties are valued using the direct capitalization method. The rates presented as the discount rate represent the overall implied capitalization rate. The terminal capitalization rate and the investment horizon are not applicable. 2. We use either the discounted cash flow or the direct capitalization method when valuing our directly held real estate properties. The rates presented as the discount rate represent the overall implied capitalization rates for investment properties that are valued using the direct capitalization approach. Key valuation metrics of the company’s hydroelectric, wind and solar generating facilities at the end of 2020 and 2019 are summarized below. North America Brazil Colombia Europe AS AT DEC. 31 2020 2019 2020 2019 2020 2019 2020 2019 Discount rate Contracted 4.1 – 4.5% 4.6 – 4.9% 7.3 % 8.2 % 8.1 % 9.0 % 3.0 – 3.6% 3.5 – 4.0% Uncontracted 5.6 – 6.0% 6.1 – 6.4% 8.6 % 9.5 % 9.4 % 10.3 % 3.6 – 4.7% 4.0 – 5.3% Terminal capitalization rate 1 5.8 – 6.2% 6.2 – 6.7% n/a n/a 8.9 % 9.8 % n/a n/a Exit date 2041 2040 2048 2047 2040 2039 2035 2035 1. Terminal capitalization rate applies only to hydroelectric assets in North America and Colombia. Key valuation metrics of the company’s utilities, transport, midstream, data and sustainable resources assets at the end of 2020 and 2019 are summarized below. Utilities Transport Midstream Sustainable Resources AS AT DEC. 31 2020 2019 2020 2019 2020 2019 2020 2019 Discount rates 7 – 14% 7 – 14% 7 – 13% 7 – 13% 15 % 15 % 6% 5 – 10% Terminal capitalization multiples 7x – 23x 8x – 21x 9x – 14x 9x – 14x 10x 10x 6x 5x – 10x Investment horizon/Exit date (years) 10 10 – 20 10 10 – 20 5 – 10 5 – 10 10 3 – 21 Valuation Technique Significant Unobservable Input(s) Relationship of Unobservable Input(s) to Fair Value Mitigating Factor(s) Discounted cash flow models • Future cash flows • Increases (decreases) in future cash flows increase (decrease) the recoverable amount • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in recoverable amounts from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) the recoverable amount • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) the recoverable amount • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from terminal capitalization rates • Exit date • Increases (decreases) in the exit date decrease (increase) the recoverable amount • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year The recoverable amounts used in goodwill impairment testing are calculated using discounted cash flow models based on the following significant unobservable inputs: Valuation Technique Significant Unobservable Input(s) Relationship of Unobservable Input(s) to Fair Value Mitigating Factor(s) Discounted cash flow models • Future cash flows • Increases (decreases) in future cash flows increase (decrease) the recoverable amount • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in recoverable amounts from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) the recoverable amount • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from discount rates • Terminal capitalization rate/multiple • Increases (decreases) in terminal capitalization rate/multiple decrease (increase) the recoverable amount • Increases (decreases) in terminal capitalization rates/multiple tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from terminal capitalization rates • Exit date/terminal year of cash flows • Increases (decreases) in the exit date/terminal year of cash flows decrease (increase) the recoverable amount • Increases (decreases) in the exit date/terminal year of cash flows tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	12 Months Ended
PROPERTY, PLANT AND EQUIPMENT	Dec. 31, 2020
Property, plant and equipment [abstract]
PROPERTY, PLANT AND EQUIPMENT	Depreciation on renewable power generating assets is calculated on a straight-line basis over the estimated service lives of the assets, which are as follows: (YEARS) Useful Lives Dams Up to 115 Penstocks Up to 60 Powerhouses Up to 115 Hydroelectric generating units Up to 115 Wind generating units Up to 30 Solar generating units Up to 35 Gas-fired cogenerating (“Cogeneration”) units Up to 40 Other assets Up to 60 Depreciation on utilities, transport, midstream and data assets i s calculated on a straight-line or declining balance basis over the estimated service lives of the components of the assets, which are as follows: (YEARS) Useful Lives Buildings Up to 75 Transmission stations, towers and related fixtures Up to 40 Leasehold improvements Up to 50 Plant and equipment Up to 40 Network systems Up to 65 Track Up to 40 District energy systems Up to 50 Pipelines Up to 20 Gas storage assets Up to 50 Depreciation on hospitality assets is calculated on a straight-line basis over the estimated useful lives of each component of the asset as follows: (YEARS) Useful Lives Building and building improvements 5 to 50 + Land improvements 15 Furniture, fixtures and equipment 2 to 15 On a straight-line basis (YEARS) Useful Lives Buildings Up to 50 Leasehold improvements Up to 40 Machinery and equipment Up to 20 Vessels Up to 35 Not on a straight-line basis Useful Lives Oil and gas related equipment Units of production The company’s property, plant and equipment relates to the operating segments as shown below: Renewable Power (a) Infrastructure (b) Real Estate (c) Private Equity and Other (d) Total AS AT DEC. 31 (MILLIONS) 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 Costs $ 28,838 $ 27,820 $ 31,212 $ 22,454 $ 9,251 $ 9,890 $ 18,770 $ 17,269 $ 88,071 $ 77,433 Accumulated fair value changes 24,238 20,465 4,626 3,777 393 1,366 (873) (643) 28,384 24,965 Accumulated depreciation (7,870) (6,690) (3,671) (2,459) (1,212) (1,527) (3,693) (2,458) (16,446) (13,134) Total 1 $ 45,206 $ 41,595 $ 32,167 $ 23,772 $ 8,432 $ 9,729 $ 14,204 $ 14,168 $ 100,009 $ 89,264 1. As at December 31, 2020, the total includes $3.9 billion (December 31, 2019 – $3.7 billion) of property, plant and equipment leased to third parties as operating leases. Our ROU PP&E assets include $4.1 billion (December 31, 2019 – $2.2 billion) in our Infrastructure segment, $856 million (December 31, 2019 – $796 million) in our Real Estate segment, $393 million (December 31, 2019 – $1.1 billion) in our Renewable Power segment and $1.3 billion (December 31, 2019 – $1.3 billion) in Private Equity and other segments, totaling $6.7 billion (December 31, 2019 – $5.4 billion) of ROU assets. Renewable Power, Infrastructure and Real Estate segments carry property, plant and equipment assets at fair value, classified as Level 3 in the fair value hierarchy due to the use of significant unobservable inputs when determining fair value. Private Equity and other segments carry property, plant and equipment assets at amortized cost. The carrying amount that would have been recognized had our assets been accounted for under the cost model is $59.0 billion ( 2019 – $51.7 billion) . As at December 31, 2020, $80.2 billion (2019 – $66.3 billion) of property, plant and equipment, at cost, were pledged as collateral for the property debt at their respective properties. a) Renewable Power Our renewable power property, plant and equipment consists of the following: Hydroelectric Wind Solar and Other Total AS AT AND FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 2020 2019 2020 2019 2020 2019 Cost, beginning of year $ 14,074 $ 13,843 $ 8,459 $ 7,968 $ 5,287 $ 4,297 $ 27,820 $ 26,108 Changes in basis of accounting — 83 — 321 — 3 — 407 Additions, net of disposals and assets reclassified as held for sale 425 162 (9) (342) 284 280 700 100 Acquisitions through business combinations — — — 566 661 742 661 1,308 Foreign currency translation (600) (14) (52) (54) 309 (35) (343) (103) Cost, end of year 13,899 14,074 8,398 8,459 6,541 5,287 28,838 27,820 Accumulated fair value changes, beginning of year 16,927 15,416 2,588 2,079 950 765 20,465 18,260 Fair value changes 3,221 1,369 402 669 530 195 4,153 2,233 Dispositions and assets reclassified as held for sale — — — (126) — (35) — (161) Foreign currency translation (283) 142 (82) (34) (15) 25 (380) 133 Accumulated fair value changes, end of year 19,865 16,927 2,908 2,588 1,465 950 24,238 20,465 Accumulated depreciation, beginning of year (4,412) (3,879) (1,781) (1,358) (497) (260) (6,690) (5,497) Depreciation expenses (517) (532) (546) (502) (302) (245) (1,365) (1,279) Dispositions and assets reclassified as held for sale 17 7 25 101 9 9 51 117 Foreign currency translation 181 (8) 9 (22) (56) (1) 134 (31) Accumulated depreciation, end of year (4,731) (4,412) (2,293) (1,781) (846) (497) (7,870) (6,690) Balance, end of year $ 29,033 $ 26,589 $ 9,013 $ 9,266 $ 7,160 $ 5,740 $ 45,206 $ 41,595 The following table presents our renewable power property, plant and equipment measured at fair value by geography: AS AT DEC. 31 (MILLIONS) 2020 2019 North America $ 28,044 $ 25,617 Colombia 8,150 7,353 Europe 4,912 3,770 Brazil 3,005 3,575 Other 1 1,095 1,280 $ 45,206 $ 41,595 1. Other refers primarily to China, India and Chile in both 2020 and 2019. Renewable power assets are accounted for under the revaluation model and the most recent date of revaluation was December 31, 2020. Valuations utilize significant unobservable inputs (Level 3) when determining the fair value of renewable power assets. The significant Level 3 inputs include: Valuation Technique Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis • Future cash flows – primarily impacted by future electricity price assumptions • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from terminal capitalization rates • Exit date • Increases (decreases) in the exit date decrease (increase) fair value • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year Key valuation metrics of the company’s hydroelectric, wind and solar generating facilities at the end of 2020 and 2019 are summarized below. North America Brazil Colombia Europe AS AT DEC. 31 2020 2019 2020 2019 2020 2019 2020 2019 Discount rate Contracted 4.1 – 4.5% 4.6 – 4.9% 7.3 % 8.2 % 8.1 % 9.0 % 3.0 – 3.6% 3.5 – 4.0% Uncontracted 5.6 – 6.0% 6.1 – 6.4% 8.6 % 9.5 % 9.4 % 10.3 % 3.6 – 4.7% 4.0 – 5.3% Terminal capitalization rate 1 5.8 – 6.2% 6.2 – 6.7% n/a n/a 8.9 % 9.8 % n/a n/a Exit date 2041 2040 2048 2047 2040 2039 2035 2035 1. Terminal capitalization rate applies only to hydroelectric assets in North America and Colombia. Terminal values are included in the valuation of hydroelectric assets in the U.S., Canada and Colombia. For the hydroelectric assets in Brazil, cash flows have been included based on the duration of the authorization or useful life of a concession asset without consideration of potential renewal value. The weighted-average remaining duration as at December 31, 2020, which includes a one-time 30-year renewal for applicable hydroelectric assets completed in the current year, is 32 years (2019 – 32 years). Consequently, there is no terminal value attributed to the hydroelectric assets in Brazil. Key assumptions on contracted generation and future power pricing are summarized below: Total Generation Contracted under Power Purchase Agreements Power Prices from Long-Term Power Purchase Agreements (weighted average) Estimates of Future Electricity Prices (weighted average) AS AT DEC. 31, 2020 (MILLIONS) 1 – 10 years 11 – 20 years 1 – 10 years 11 – 20 years 1 – 10 years 11 – 20 years North America (prices in US$/MWh) 43 % 13 % 96 90 65 117 Brazil (prices in R$/MWh) 70 % 30 % 306 396 245 328 Colombia (prices in COP$/MWh) 27 % — % 220,000 N/A 265,000 384,000 Europe (prices in €/MWh) 87 % 56 % 167 255 68 54 The company’s estimate of future renewable power pricing is based on management’s estimate of the cost of securing new energy from renewable sources to meet future demand between 2023 and 2035 (2019 – between 2023 and 2035), which will maintain system reliability and provide adequate levels of reserve generation. b) Infrastructure Our infrastructure property, plant and equipment consists of the following: Utilities Transport Midstream Data Sustainable Resources and Other Total AS AT AND FOR THE YEAR ENDED DEC. 31 (MILLIONS) 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 Cost, beginning of year $ 8,654 $ 6,248 $ 8,309 $ 2,495 $ 3,971 $ 2,443 $ 1,131 $ 444 $ 389 $ 429 $ 22,454 $ 12,059 Changes in basis of accounting — 110 — 356 — 108 — 633 — — — 1,207 Additions, net of disposals and assets reclassified as held for sale 550 34 146 171 277 136 51 (43) (16) (25) 1,008 273 Acquisitions through business combinations — 2,135 — 5,283 — 1,197 7,334 95 — — 7,334 8,710 Foreign currency translation 102 127 243 4 73 87 77 2 (79) (15) 416 205 Cost, end of year 9,306 8,654 8,698 8,309 4,321 3,971 8,593 1,131 294 389 31,212 22,454 Accumulated fair value changes, beginning of year 2,187 2,002 857 810 317 221 — — 416 447 3,777 3,480 Disposition and assets reclassified as held for sale — (416) — — — — — — — (37) — (453) Fair value changes 652 572 113 45 21 92 — — 6 6 792 715 Foreign currency translation 78 29 77 2 — 4 — — (98) — 57 35 Accumulated fair value changes, end of year 2,917 2,187 1,047 857 338 317 — — 324 416 4,626 3,777 Accumulated depreciation, beginning of year (1,172) (985) (950) (744) (208) (120) (88) — (41) (40) (2,459) (1,889) Depreciation expenses (419) (415) (498) (178) (141) (84) (189) (87) (10) (10) (1,257) (774) Dispositions and assets reclassified as held for sale 12 247 134 (25) — 3 17 — 7 7 170 232 Foreign currency translation (34) (19) (90) (3) (7) (7) (3) (1) 9 2 (125) (28) Accumulated depreciation, end of year (1,613) (1,172) (1,404) (950) (356) (208) (263) (88) (35) (41) (3,671) (2,459) Balance, end of year $ 10,610 $ 9,669 $ 8,341 $ 8,216 $ 4,303 $ 4,080 $ 8,330 $ 1,043 $ 583 $ 764 $ 32,167 $ 23,772 Infrastructure’s PP&E assets are accounted for under the revaluation model, and the most recent date of revaluation was December 31, 2020. The company’s utilities assets consist of regulated transmission and regulated distribution networks, which are operated primarily under regulated rate base arrangements. In the company’s transport operations, the PP&E assets consist of railroads, toll roads and ports. PP&E assets in the midstream operations are comprised of energy transmission, distribution and storage and district energy assets. Data PP&E include mainly telecommunications towers, fiber optic networks and data storage assets. PP&E within our sustainable resource operations include standing timber, land, roads and other agricultural assets. Valuations utilize significant unobservable inputs (Level 3) when determining the fair value of infrastructure’s utilities, transport, midstream, data and sustainable resources assets. The significant Level 3 inputs include: Valuation Technique Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from discount rates • Terminal capitalization multiple • Increases (decreases) in terminal capitalization multiple increases (decreases) fair value • Increases (decreases) in terminal capitalization multiple tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from terminal capitalization multiple • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value • Increases (decreases) in the investment horizon tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year Key valuation metrics of the company’s utilities, transport, midstream, data and sustainable resources assets at the end of 2020 and 2019 are summarized below. Utilities Transport Midstream Sustainable Resources AS AT DEC. 31 2020 2019 2020 2019 2020 2019 2020 2019 Discount rates 7 – 14% 7 – 14% 7 – 13% 7 – 13% 15 % 15 % 6% 5 – 10% Terminal capitalization multiples 7x – 23x 8x – 21x 9x – 14x 9x – 14x 10x 10x 6x 5x – 10x Investment horizon/Exit date (years) 10 10 – 20 10 10 – 20 5 – 10 5 – 10 10 3 – 21 c) Real Estate Cost Accumulated Fair Value Changes Accumulated Depreciation Total AS AT AND FOR THE YEAR ENDED DEC. 31 (MILLIONS) 2020 2019 2020 2019 2020 2019 2020 2019 Balance, beginning of year $ 9,890 $ 7,713 $ 1,366 $ 1,045 $ (1,527) $ (1,106) $ 9,729 $ 7,652 Changes in basis of accounting (1,895) 769 (681) — 786 — (1,790) 769 Additions/(dispositions) 1 , net of assets reclassified as held for sale 1,023 514 (135) (2) 27 37 915 549 Acquisitions through business combinations — 785 — — — — — 785 Foreign currency translation 233 109 2 — (41) (15) 194 94 Fair value changes — — (159) 323 — — (159) 323 Depreciation expenses — — — — (457) (443) (457) (443) Balance, end of year $ 9,251 $ 9,890 $ 393 $ 1,366 $ (1,212) $ (1,527) $ 8,432 $ 9,729 1. For accumulated depreciation, (additions)/dispositions. The company’s real estate PP&E assets include hospitality assets accounted for under the revaluation model, with the most recent revaluation as at December 31, 2020. The company determined fair value for these assets by using the depreciated replacement cost method. Valuations utilize significant unobservable inputs (Level 3) when determining the fair value of real estate assets. The significant Level 3 inputs include estimates of assets’ replacement cost and remaining economic life. d) Private Equity Private equity and other PP&E includes assets owned by the company’s private equity and residential development operations. These assets are accounted for under the cost model, which requires the assets to be carried at cost less accumulated depreciation and any accumulated impairment losses. The following table presents the changes to the carrying value of the company’s property, plant and equipment assets included in these operations: Cost Accumulated Impairment Accumulated Depreciation Total AS AT AND FOR THE YEAR ENDED DEC. 31 (MILLIONS) 2020 2019 2020 2019 2020 2019 2020 2019 Balance, beginning of year $ 17,269 $ 9,027 $ (643) $ (434) $ (2,458) $ (1,472) $ 14,168 $ 7,121 Changes in basis of accounting — 1,032 — — — — — 1,032 Additions/(dispositions) 1 , net of assets reclassified as held for sale 874 477 57 — 290 332 1,221 809 Acquisitions through business combinations 84 6,650 — — — — 84 6,650 Foreign currency translation 543 83 (3) (13) (61) (44) 479 26 Depreciation expenses — — — — (1,464) (1,274) (1,464) (1,274) Impairment charges — — (284) (196) — — (284) (196) Balance, end of year $ 18,770 $ 17,269 $ (873) $ (643) $ (3,693) $ (2,458) $ 14,204 $ 14,168 1. For accumulated depreciation, (additions)/dispositions.

INTANGIBLE ASSETS

INTANGIBLE ASSETS	12 Months Ended
INTANGIBLE ASSETS	Dec. 31, 2020
Intangible assets other than goodwill [abstract]
Disclosure of intangible assets [text block]	INTANGIBLE ASSETS The following table presents the breakdown of, and changes to, the balance of the company’s intangible assets: Cost Accumulated Amortization and Impairment Total AS AT AND FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 2020 2019 2020 2019 Balance, beginning of year $ 30,232 $ 20,304 $ (2,522) $ (1,542) $ 27,710 $ 18,762 Additions 452 445 — — 452 445 Disposals 1 (2,246) (499) 307 132 (1,939) (367) Acquisitions through business combinations 625 10,333 — — 625 10,333 Amortization — — (1,310) (1,141) (1,310) (1,141) PPA adjustments 78 — 7 — 85 — Foreign currency translation (1,195) (351) 230 29 (965) (322) Balance, end of year $ 27,946 $ 30,232 $ (3,288) $ (2,522) $ 24,658 $ 27,710 1. Include assets sold and amounts reclassified to held for sale. Intangible assets are allocated to the following operating segments: AS AT DEC. 31 (MILLIONS) Note 2020 2019 Infrastructure (a) $ 11,769 $ 14,388 Private equity (b) 11,261 11,650 Real estate (c) 1,177 1,301 Renewable power and other 451 371 $ 24,658 $ 27,710 a) Infrastructure The intangible assets in our Infrastructure segment are primarily related to: • Concession arrangements of $2.9 billion (2019 – $3.9 billion) at the company’s Brazilian regulated gas transmission operation that provide the right to charge a tariff over the term of the agreements. The agreements have an expiration date between 2039 and 2041, which is the basis for the company’s determination of the asset’s remaining useful life. Upon expiry of the agreements, the asset shall be returned to the government and the concession will be subject to a public bidding process. • Concession arrangements totaling $2.6 billion (2019 – $2.7 billion) relating to the company’s Peruvian, Chilean and Indian toll roads which provide the right to charge a tariff to users of the roads over the terms of the concessions. The Chilean and Peruvian concessions have expiration dates of 2033 and 2043, respectively, while the Indian concessions have an expiration date from 2026 to 2041. The company uses these expiration dates as a basis for determining the assets’ remaining useful lives. • Customer relationships, operating network agreements and track access rights of $1.9 billion (2019 – $2.0 billion) in our North American rail operations. These intangible assets are amortized on a straight-line basis over 10 to 20 years. • Contractual customer relationships, customer contracts and proprietary technology of $1.4 billion (2019 – $1.4 billion) at the company’s North American residential energy infrastructure operations. These assets are amortized on a straight-line basis over 10 to 20 years. • Indefinite life intangible assets of $876 million ( 2019 – $667 million). The increase from 2019 is primarily attributable to the brand value at our North American rail infrastructure business. • Access agreements of $1.8 billion with the users of the company’s Australian regulated terminal, which are 100% take-or-pay contracts at a designated tariff rate based on the asset value, were included in intangible assets in 2019. The segment completed the sale of the investment during the year. b) Private Equity The intangible assets in our Private Equity segment are primarily related to: • Customer relationships of $5.1 billion (2019 – $5.3 billion), which remained consistent with prior year. The customer relationships acquired are assessed to have a useful life of up to 30 years. • Water and sewage concession agreements, the majority of which are arrangements with municipal governments across Brazil, of $1.8 billion (2019 – $1.8 billion). The concession agreements provide the company the right to charge fees to users over the terms of the agreements in exchange for water treatment services, ongoing and regular maintenance work on water distribution assets and improvements to the water treatment and distribution systems. The concession agreements have expiration dates that range from 2037 to 2056 which is the basis for the company’s determination of the assets’ remaining useful life. Upon expiry of the agreements, the assets shall be returned to the government. • Computer software, patents, trademarks and proprietary technology of $3.2 billion (2019 – $3.2 billion), which remained consistent with prior year. The proprietary technology has the potential to provide competitive advantages and product differentiation and is assessed to have a useful life of 15 years. c) Real Estate The intangible assets in our Real Estate segment are primarily attributable to indefinite life trademarks associated with the hospitality assets, Center Parcs U.K properties. The Center Parcs trademark assets have been determined to have an indefinite useful life as the company has the legal right to operate these trademarks exclusively in certain territories and in perpetuity. The business model of Center Parcs is not subject to technological obsolescence or commercial innovations in any material way. Inputs Used to Determine Recoverable Amounts of Intangible Assets We test finite life intangible assets for impairment when an impairment indicator is identified. Indefinite life intangible assets are tested for impairment annually. We use a discounted cash flow valuation to determine the recoverable amount and consider the following significant unobservable inputs as part of our valuation: Valuation Technique Significant Unobservable Input(s) Relationship of Unobservable Input(s) to Fair Value Mitigating Factor(s) Discounted cash flow models • Future cash flows • Increases (decreases) in future cash flows increase (decrease) the recoverable amount • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in recoverable amounts from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) the recoverable amount • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) the recoverable amount • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from terminal capitalization rates • Exit date • Increases (decreases) in the exit date decrease (increase) the recoverable amount • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year
Schedule of detailed information about intangible assets	The following table presents the breakdown of, and changes to, the balance of the company’s intangible assets: Cost Accumulated Amortization and Impairment Total AS AT AND FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 2020 2019 2020 2019 Balance, beginning of year $ 30,232 $ 20,304 $ (2,522) $ (1,542) $ 27,710 $ 18,762 Additions 452 445 — — 452 445 Disposals 1 (2,246) (499) 307 132 (1,939) (367) Acquisitions through business combinations 625 10,333 — — 625 10,333 Amortization — — (1,310) (1,141) (1,310) (1,141) PPA adjustments 78 — 7 — 85 — Foreign currency translation (1,195) (351) 230 29 (965) (322) Balance, end of year $ 27,946 $ 30,232 $ (3,288) $ (2,522) $ 24,658 $ 27,710 1. Include assets sold and amounts reclassified to held for sale. Intangible assets are allocated to the following operating segments: AS AT DEC. 31 (MILLIONS) Note 2020 2019 Infrastructure (a) $ 11,769 $ 14,388 Private equity (b) 11,261 11,650 Real estate (c) 1,177 1,301 Renewable power and other 451 371 $ 24,658 $ 27,710
Disclosure of significant unobservable inputs used in fair value measurement of assets [text block]	The following table summarizes the valuation techniques and significant unobservable inputs used in the fair value measurement of Level 3 financial instruments: (MILLIONS) Type of Asset/Liability Carrying Value Dec. 31, 2020 Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Fixed income securities and other $ 491 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Corporate bonds 286 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Common shares and warrants 1,389 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Black-Scholes model • Volatility • Increases (decreases) in volatility increase (decreases) fair value • Term to maturity • Increases (decreases) in term to maturity increase (decrease) fair value Limited-life funds (subsidiary equity obligations) (1,380) Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value Derivative assets/Derivative liabilities (accounts receivable/payable) 135 / Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value (724) • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Timber / agricultural prices • Increases (decreases) in price increase (decrease) fair value • Increases (decreases) in price tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from price • Discount rate /terminal capitalization rate • Increases (decreases) in discount rate or terminal capitalization rate decrease (increase) fair value • Decreases (increases) in discount rates or terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from rates • Exit Date • Increases (decreases) in exit date decrease (increase) fair value • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year Significant unobservable inputs (Level 3) are utilized when determining the fair value of investment properties. The significant Level 3 inputs include: Valuation Technique Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis 1 • Future cash flows – primarily driven by net operating income • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from terminal capitalization rates • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value • Increases (decreases) in the investment horizon tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year 1. Certain investment properties are valued using the direct capitalization method instead of a discounted cash flow model. Under the direct capitalization method, a capitalization rate is applied to estimated current year cash flows. The following table summarizes the key valuation metrics of the company’s investment properties: 2020 2019 AS AT DEC. 31 Discount Terminal Investment Discount Rate Terminal Capitalization Rate Investment Horizon (years) Core office United States 6.9 % 5.6 % 12 7.0 % 5.6 % 12 Canada 5.9 % 5.2 % 10 5.9 % 5.2 % 10 Australia 6.6 % 5.7 % 10 6.8 % 5.9 % 10 Europe 5.2 % 3.8 % 10 4.6 % 4.1 % 11 Brazil 7.6 % 7.0 % 10 7.9 % 7.4 % 10 Core retail 7.0 % 5.3 % 10 6.7 % 5.4 % 10 LP investments and other LP investments office 9.7 % 7.2 % 7 10.0 % 7.3 % 7 LP investments retail 8.7 % 7.0 % 10 8.8 % 7.3 % 10 Mixed-use 7.3 % 5.2 % 10 7.6 % 5.4 % 10 Logistics 1 — % n/a n/a 5.8 % n/a n/a Multifamily 1 4.9 % n/a n/a 5.1 % n/a n/a Triple net lease 1 6.2 % n/a n/a 6.3 % n/a n/a Self-storage 1 — % n/a n/a 5.6 % n/a n/a Student housing 1 4.9 % n/a n/a 5.8 % n/a n/a Manufactured housing 1 4.8 % n/a n/a 5.5 % n/a n/a Directly held real estate properties 2 5.1 – 9.3% 5.4 % 19 5.2 – 9.2% 6.1 % 19 Other investment properties 1,3 5.0 – 8.7% n/a n/a 8.9 % n/a n/a 1. Logistics, multifamily, triple net lease, self-storage, student housing, manufactured housing and other investment properties are valued using the direct capitalization method. The rates presented as the discount rate represent the overall implied capitalization rate. The terminal capitalization rate and the investment horizon are not applicable. 2. We use either the discounted cash flow or the direct capitalization method when valuing our directly held real estate properties. The rates presented as the discount rate represent the overall implied capitalization rates for investment properties that are valued using the direct capitalization approach. Key valuation metrics of the company’s hydroelectric, wind and solar generating facilities at the end of 2020 and 2019 are summarized below. North America Brazil Colombia Europe AS AT DEC. 31 2020 2019 2020 2019 2020 2019 2020 2019 Discount rate Contracted 4.1 – 4.5% 4.6 – 4.9% 7.3 % 8.2 % 8.1 % 9.0 % 3.0 – 3.6% 3.5 – 4.0% Uncontracted 5.6 – 6.0% 6.1 – 6.4% 8.6 % 9.5 % 9.4 % 10.3 % 3.6 – 4.7% 4.0 – 5.3% Terminal capitalization rate 1 5.8 – 6.2% 6.2 – 6.7% n/a n/a 8.9 % 9.8 % n/a n/a Exit date 2041 2040 2048 2047 2040 2039 2035 2035 1. Terminal capitalization rate applies only to hydroelectric assets in North America and Colombia. Key valuation metrics of the company’s utilities, transport, midstream, data and sustainable resources assets at the end of 2020 and 2019 are summarized below. Utilities Transport Midstream Sustainable Resources AS AT DEC. 31 2020 2019 2020 2019 2020 2019 2020 2019 Discount rates 7 – 14% 7 – 14% 7 – 13% 7 – 13% 15 % 15 % 6% 5 – 10% Terminal capitalization multiples 7x – 23x 8x – 21x 9x – 14x 9x – 14x 10x 10x 6x 5x – 10x Investment horizon/Exit date (years) 10 10 – 20 10 10 – 20 5 – 10 5 – 10 10 3 – 21 Valuation Technique Significant Unobservable Input(s) Relationship of Unobservable Input(s) to Fair Value Mitigating Factor(s) Discounted cash flow models • Future cash flows • Increases (decreases) in future cash flows increase (decrease) the recoverable amount • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in recoverable amounts from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) the recoverable amount • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) the recoverable amount • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from terminal capitalization rates • Exit date • Increases (decreases) in the exit date decrease (increase) the recoverable amount • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year The recoverable amounts used in goodwill impairment testing are calculated using discounted cash flow models based on the following significant unobservable inputs: Valuation Technique Significant Unobservable Input(s) Relationship of Unobservable Input(s) to Fair Value Mitigating Factor(s) Discounted cash flow models • Future cash flows • Increases (decreases) in future cash flows increase (decrease) the recoverable amount • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in recoverable amounts from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) the recoverable amount • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from discount rates • Terminal capitalization rate/multiple • Increases (decreases) in terminal capitalization rate/multiple decrease (increase) the recoverable amount • Increases (decreases) in terminal capitalization rates/multiple tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from terminal capitalization rates • Exit date/terminal year of cash flows • Increases (decreases) in the exit date/terminal year of cash flows decrease (increase) the recoverable amount • Increases (decreases) in the exit date/terminal year of cash flows tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year

GOODWILL

GOODWILL	12 Months Ended
GOODWILL	Dec. 31, 2020
Goodwill [Abstract]
Disclosure of reconciliation of changes in goodwill	The following table presents the breakdown of, and changes to, the balance of goodwill: Cost Accumulated Impairment Total AS AT AND FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 2020 2019 2020 2019 Balance, beginning of year $ 15,412 $ 9,198 $ (862) $ (383) $ 14,550 $ 8,815 Acquisitions through business combinations 145 6,125 — — 145 6,125 Impairment losses — — (3) (453) (3) (453) Foreign currency translation and other 1 (18) 89 40 (26) 22 63 Balance, end of year $ 15,539 $ 15,412 $ (825) $ (862) $ 14,714 $ 14,550 1. Includes adjustment to goodwill based on final purchase price allocation.
Disclosure of significant unobservable inputs used in fair value measurement of assets [text block]	The following table summarizes the valuation techniques and significant unobservable inputs used in the fair value measurement of Level 3 financial instruments: (MILLIONS) Type of Asset/Liability Carrying Value Dec. 31, 2020 Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Fixed income securities and other $ 491 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Corporate bonds 286 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Common shares and warrants 1,389 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Black-Scholes model • Volatility • Increases (decreases) in volatility increase (decreases) fair value • Term to maturity • Increases (decreases) in term to maturity increase (decrease) fair value Limited-life funds (subsidiary equity obligations) (1,380) Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value Derivative assets/Derivative liabilities (accounts receivable/payable) 135 / Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value (724) • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Timber / agricultural prices • Increases (decreases) in price increase (decrease) fair value • Increases (decreases) in price tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from price • Discount rate /terminal capitalization rate • Increases (decreases) in discount rate or terminal capitalization rate decrease (increase) fair value • Decreases (increases) in discount rates or terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from rates • Exit Date • Increases (decreases) in exit date decrease (increase) fair value • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year Significant unobservable inputs (Level 3) are utilized when determining the fair value of investment properties. The significant Level 3 inputs include: Valuation Technique Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis 1 • Future cash flows – primarily driven by net operating income • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from terminal capitalization rates • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value • Increases (decreases) in the investment horizon tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year 1. Certain investment properties are valued using the direct capitalization method instead of a discounted cash flow model. Under the direct capitalization method, a capitalization rate is applied to estimated current year cash flows. The following table summarizes the key valuation metrics of the company’s investment properties: 2020 2019 AS AT DEC. 31 Discount Terminal Investment Discount Rate Terminal Capitalization Rate Investment Horizon (years) Core office United States 6.9 % 5.6 % 12 7.0 % 5.6 % 12 Canada 5.9 % 5.2 % 10 5.9 % 5.2 % 10 Australia 6.6 % 5.7 % 10 6.8 % 5.9 % 10 Europe 5.2 % 3.8 % 10 4.6 % 4.1 % 11 Brazil 7.6 % 7.0 % 10 7.9 % 7.4 % 10 Core retail 7.0 % 5.3 % 10 6.7 % 5.4 % 10 LP investments and other LP investments office 9.7 % 7.2 % 7 10.0 % 7.3 % 7 LP investments retail 8.7 % 7.0 % 10 8.8 % 7.3 % 10 Mixed-use 7.3 % 5.2 % 10 7.6 % 5.4 % 10 Logistics 1 — % n/a n/a 5.8 % n/a n/a Multifamily 1 4.9 % n/a n/a 5.1 % n/a n/a Triple net lease 1 6.2 % n/a n/a 6.3 % n/a n/a Self-storage 1 — % n/a n/a 5.6 % n/a n/a Student housing 1 4.9 % n/a n/a 5.8 % n/a n/a Manufactured housing 1 4.8 % n/a n/a 5.5 % n/a n/a Directly held real estate properties 2 5.1 – 9.3% 5.4 % 19 5.2 – 9.2% 6.1 % 19 Other investment properties 1,3 5.0 – 8.7% n/a n/a 8.9 % n/a n/a 1. Logistics, multifamily, triple net lease, self-storage, student housing, manufactured housing and other investment properties are valued using the direct capitalization method. The rates presented as the discount rate represent the overall implied capitalization rate. The terminal capitalization rate and the investment horizon are not applicable. 2. We use either the discounted cash flow or the direct capitalization method when valuing our directly held real estate properties. The rates presented as the discount rate represent the overall implied capitalization rates for investment properties that are valued using the direct capitalization approach. Key valuation metrics of the company’s hydroelectric, wind and solar generating facilities at the end of 2020 and 2019 are summarized below. North America Brazil Colombia Europe AS AT DEC. 31 2020 2019 2020 2019 2020 2019 2020 2019 Discount rate Contracted 4.1 – 4.5% 4.6 – 4.9% 7.3 % 8.2 % 8.1 % 9.0 % 3.0 – 3.6% 3.5 – 4.0% Uncontracted 5.6 – 6.0% 6.1 – 6.4% 8.6 % 9.5 % 9.4 % 10.3 % 3.6 – 4.7% 4.0 – 5.3% Terminal capitalization rate 1 5.8 – 6.2% 6.2 – 6.7% n/a n/a 8.9 % 9.8 % n/a n/a Exit date 2041 2040 2048 2047 2040 2039 2035 2035 1. Terminal capitalization rate applies only to hydroelectric assets in North America and Colombia. Key valuation metrics of the company’s utilities, transport, midstream, data and sustainable resources assets at the end of 2020 and 2019 are summarized below. Utilities Transport Midstream Sustainable Resources AS AT DEC. 31 2020 2019 2020 2019 2020 2019 2020 2019 Discount rates 7 – 14% 7 – 14% 7 – 13% 7 – 13% 15 % 15 % 6% 5 – 10% Terminal capitalization multiples 7x – 23x 8x – 21x 9x – 14x 9x – 14x 10x 10x 6x 5x – 10x Investment horizon/Exit date (years) 10 10 – 20 10 10 – 20 5 – 10 5 – 10 10 3 – 21 Valuation Technique Significant Unobservable Input(s) Relationship of Unobservable Input(s) to Fair Value Mitigating Factor(s) Discounted cash flow models • Future cash flows • Increases (decreases) in future cash flows increase (decrease) the recoverable amount • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in recoverable amounts from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) the recoverable amount • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) the recoverable amount • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from terminal capitalization rates • Exit date • Increases (decreases) in the exit date decrease (increase) the recoverable amount • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year The recoverable amounts used in goodwill impairment testing are calculated using discounted cash flow models based on the following significant unobservable inputs: Valuation Technique Significant Unobservable Input(s) Relationship of Unobservable Input(s) to Fair Value Mitigating Factor(s) Discounted cash flow models • Future cash flows • Increases (decreases) in future cash flows increase (decrease) the recoverable amount • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in recoverable amounts from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) the recoverable amount • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from discount rates • Terminal capitalization rate/multiple • Increases (decreases) in terminal capitalization rate/multiple decrease (increase) the recoverable amount • Increases (decreases) in terminal capitalization rates/multiple tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from terminal capitalization rates • Exit date/terminal year of cash flows • Increases (decreases) in the exit date/terminal year of cash flows decrease (increase) the recoverable amount • Increases (decreases) in the exit date/terminal year of cash flows tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year

INCOME TAXES

INCOME TAXES	12 Months Ended
INCOME TAXES	Dec. 31, 2020
Income Taxes [Abstract]
INCOME TAXES	INCOME TAXES The major components of income tax expense/(recovery) for the years ended December 31, 2020 and 2019 are set out below: FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 Current income tax expense $ 756 $ 970 Deferred income tax expense / (recovery) Origination and reversal of temporary differences (103) 281 Expense / (recovery) arising from previously unrecognized tax assets 2 (647) Change of tax rates and new legislation 182 (109) Total deferred income tax expense / (recovery) 81 (475) Income tax expense $ 837 $ 495 The company’s Canadian domestic statutory income tax rate has remained consistent at 26% throughout both of 2020 and 2019. The company’s effective income tax rate is different from the company’s domestic statutory income tax rate due to the following differences set out below: FOR THE YEARS ENDED DEC. 31 2020 2019 Statutory income tax rate 26 % 26 % Increase (reduction) in rate resulting from: Change in tax rates and new legislation 12 (2) International operations subject to different tax rates 52 (7) Taxable income attributable to non-controlling interests (31) (4) Portion of gains subject to different tax rates (10) (1) Recognition of deferred tax assets (10) (9) Non-recognition of the benefit of current year’s tax losses 8 4 Other 7 1 Effective income tax rate 54 % 8 % Deferred income tax assets and liabilities as at December 31, 2020 and 2019 relate to the following: AS AT DEC. 31 (MILLIONS) 2020 2019 Non-capital losses (Canada) $ 916 $ 848 Capital losses (Canada) 48 80 Losses (U.S.) 3,338 3,102 Losses (International) 1,415 705 Difference in basis (18,292) (16,012) Total net deferred tax liabilities $ (12,575) $ (11,277) The aggregate amount of temporary differences associated with investments in subsidiaries for which deferred tax liabilities have not been recognized as at December 31, 2020 is approximately $5 billion (2019 – approximately $5 billion). The company regularly assesses the status of open tax examinations and its historical tax filing positions for the potential for adverse outcomes to determine the adequacy of the provision for income and other taxes. The company believes that it has adequately provided for any tax adjustments that are more likely than not to occur as a result of ongoing tax examinations or historical filing positions. The dividend payment on certain preferred shares of the company results in the payment of cash taxes in Canada and the company obtaining a deduction based on the amount of these taxes. The following table details the expiry date, if applicable, of the unrecognized deferred tax assets: AS AT DEC. 31 (MILLIONS) 2020 2019 One year from reporting date $ 4 $ 22 Two years from reporting date 20 9 Three years from reporting date 20 14 After three years from reporting date 465 1,159 Do not expire 1,473 1,632 Total $ 1,982 $ 2,836 The components of the income taxes in other comprehensive income for the years ended December 31, 2020 and 2019 are set out below: FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 Revaluation of property, plant and equipment $ 1,214 $ 623 Financial contracts and power sale agreements (59) 6 Fair value through OCI securities 74 88 Foreign currency translation 37 (8) Revaluation of pension obligation (40) (6) Total deferred tax in other comprehensive income $ 1,226 $ 703
Schedule of deferred income tax assets and liabilities	Deferred income tax assets and liabilities as at December 31, 2020 and 2019 relate to the following: AS AT DEC. 31 (MILLIONS) 2020 2019 Non-capital losses (Canada) $ 916 $ 848 Capital losses (Canada) 48 80 Losses (U.S.) 3,338 3,102 Losses (International) 1,415 705 Difference in basis (18,292) (16,012) Total net deferred tax liabilities $ (12,575) $ (11,277)

CORPORATE BORROWINGS

CORPORATE BORROWINGS	12 Months Ended
CORPORATE BORROWINGS	Dec. 31, 2020
Disclosure of financial liabilities [abstract]
CORPORATE BORROWINGS	CORPORATE BORROWINGS AS AT DEC. 31 (MILLIONS) Maturity Annual Rate Currency 2020 2019 Term debt Public – Canadian Mar. 1, 2021 5.30 % C$ $ — $ 269 Public – Canadian Mar. 31, 2023 4.54 % C$ 472 463 Public – Canadian Mar. 8, 2024 5.04 % C$ 393 385 Public – U.S. Apr. 1 , 2024 4.00 % US$ 749 749 Public – U.S. Jan. 15, 2025 4.00 % US$ 500 500 Public – Canadian Jan. 28, 2026 4.82 % C$ 675 664 Public – U.S. Jun. 2, 2026 4.25 % US$ 497 497 Public – Canadian Mar. 16, 2027 3.80 % C$ 393 385 Public – U.S. Jan. 25, 2028 3.90 % US$ 649 649 Public – U.S. Mar. 29, 2029 4.85 % US$ 999 998 Public – U.S. Apr. 15, 2030 4.35 % US$ 749 — Public – U.S. Mar. 1, 2033 7.38 % US$ 250 250 Public – Canadian Jun. 14, 2035 5.95 % C$ 331 325 Private – Japanese Dec. 1, 2038 1.42 % JPY 97 92 Public – U.S. Sep. 20, 2047 4.70 % US$ 902 902 Public – U.S. Apr. 15, 2050 3.45 % US$ 594 — Public – U.S. Mar. 30, 2051 3.50 % US$ 497 — Public – U.S. Oct. 16, 2080 4.63 % US$ 400 — 9,147 7,128 Deferred financing costs 1 (70) (45) Total $ 9,077 $ 7,083 1. Deferred financing costs are amortized to interest expense over the term of the borrowing using the effective interest method. Corporate borrowings have a weighted-average interest rate of 4.4% (2019 – 4.6%) and include $2.3 billion (2019 – $2.5 billion) repayable in Canadian dollars of C$2.9 billion (2019 – C$3.2 billion) and $97 million (2019 – $92 million) repayable in Japanese Yen of ¥10 billion (2019 – ¥10 billion). AS AT DEC. 31 Note 2020 2019 Subsidiary borrowings (a) $ 10,768 $ 8,423 Property-specific borrowings (b) 128,556 127,869 Total $ 139,324 $ 136,292 a) Subsidiary Borrowings Principal repayments on subsidiary borrowings due over the next five calendar years and thereafter are as follows: (MILLIONS) Real Estate Renewable Power Infrastructure Private Equity Residential Development Total 2021 $ 314 $ 3 $ — $ — $ — $ 317 2022 — — — — 38 38 2023 393 — — — 227 620 2024 1,974 — 1,681 310 26 3,991 2025 393 314 — — 394 1,101 Thereafter 314 1,826 1,492 — 1,100 4,732 Total Principal repayments 3,388 2,143 3,173 310 1,785 10,799 Deferred financing costs and other (10) (11) (15) — 5 (31) Total – Dec. 31, 2020 $ 3,378 $ 2,132 $ 3,158 $ 310 $ 1,790 $ 10,768 Total – Dec. 31, 2019 $ 2,024 $ 2,098 $ 2,470 $ — $ 1,831 $ 8,423 The weighted-average interest rate on subsidiary borrowings as at December 31, 2020 was 3.5% (2019 – 4.3%). The current and non-current balances of subsidiary borrowings are as follows: AS AT DEC. 31 (MILLIONS) 2020 2019 Current $ 317 $ 17 Non-current 10,451 8,406 Total $ 10,768 $ 8,423 Subsidiary borrowings by currency include the following: AS AT DEC. 31 (MILLIONS) 2020 Local Currency 2019 Local Currency U.S. dollars $ 4,376 US$ 4,376 $ 5,162 US$ 5,162 Canadian dollars 6,254 C$ 7,963 3,078 C$ 3,998 Brazilian reais 138 Rs 715 183 Rs 737 Total $ 10,768 $ 8,423 b) Property-Specific Borrowings Principal repayments on property-specific borrowings due over the next five calendar years and thereafter are as follows: (MILLIONS) Real Estate Renewable Power Infrastructure Private Equity Residential Development Total 2021 $ 16,583 $ 1,194 $ 1,595 $ 1,531 $ 67 $ 20,970 2022 10,654 1,190 894 1,313 25 14,076 2023 7,848 2,063 2,782 2,152 70 14,915 2024 11,279 886 2,583 2,051 325 17,124 2025 8,588 1,179 3,629 4,747 5 18,148 Thereafter 12,525 9,898 9,987 12,018 — 44,428 Total Principal repayments 67,477 16,410 21,470 23,812 492 129,661 Deferred financing costs and other (404) (57) (161) (479) (4) (1,105) Total – Dec. 31, 2020 $ 67,073 $ 16,353 $ 21,309 $ 23,333 $ 488 $ 128,556 Total – Dec. 31, 2019 $ 67,909 $ 15,787 $ 20,776 $ 23,105 $ 292 $ 127,869 The weighted-average interest rate on property-specific borrowings as at December 31, 2020 was 4.2% (2019 – 4.7%). The current and non-current balances of property-specific borrowings are as follows: AS AT DEC. 31 (MILLIONS) 2020 2019 Current $ 20,970 $ 15,696 Non-current 107,586 112,173 Total $ 128,556 $ 127,869 Property-specific borrowings by currency include the following: AS AT DEC. 31 (MILLIONS) 2020 Local Currency 2019 Local Currency U.S. dollars $ 78,223 US$ 78,223 $ 84,203 US$ 84,203 British pounds 10,341 £ 7,565 9,812 £ 7,401 Indian rupees 8,978 Rs 655,328 4,143 Rs 295,106 Canadian dollars 8,458 C$ 10,771 7,955 C$ 10,333 Euros 7,816 € 6,398 6,844 € 6,103 Australian dollars 4,799 A$ 6,237 4,815 A$ 6,861 Brazilian reais 3,487 R$ 18,147 3,969 R$ 15,998 Colombian pesos 2,141 COP$ 7,332,845 2,029 COP$ 6,671,818 Korean won 2,082 ₩ 2,268,301 1,959 ₩ 2,264,478 Chilean unidades de fomento 1,187 UF 29 1,099 UF 29 Other currencies 1,044 n/a n/a 1,041 n/a n/a Total $ 128,556 $ 127,869
Disclosure of corporate borrowings	AS AT DEC. 31 (MILLIONS) Maturity Annual Rate Currency 2020 2019 Term debt Public – Canadian Mar. 1, 2021 5.30 % C$ $ — $ 269 Public – Canadian Mar. 31, 2023 4.54 % C$ 472 463 Public – Canadian Mar. 8, 2024 5.04 % C$ 393 385 Public – U.S. Apr. 1 , 2024 4.00 % US$ 749 749 Public – U.S. Jan. 15, 2025 4.00 % US$ 500 500 Public – Canadian Jan. 28, 2026 4.82 % C$ 675 664 Public – U.S. Jun. 2, 2026 4.25 % US$ 497 497 Public – Canadian Mar. 16, 2027 3.80 % C$ 393 385 Public – U.S. Jan. 25, 2028 3.90 % US$ 649 649 Public – U.S. Mar. 29, 2029 4.85 % US$ 999 998 Public – U.S. Apr. 15, 2030 4.35 % US$ 749 — Public – U.S. Mar. 1, 2033 7.38 % US$ 250 250 Public – Canadian Jun. 14, 2035 5.95 % C$ 331 325 Private – Japanese Dec. 1, 2038 1.42 % JPY 97 92 Public – U.S. Sep. 20, 2047 4.70 % US$ 902 902 Public – U.S. Apr. 15, 2050 3.45 % US$ 594 — Public – U.S. Mar. 30, 2051 3.50 % US$ 497 — Public – U.S. Oct. 16, 2080 4.63 % US$ 400 — 9,147 7,128 Deferred financing costs 1 (70) (45) Total $ 9,077 $ 7,083 1. Deferred financing costs are amortized to interest expense over the term of the borrowing using the effective interest method. AS AT DEC. 31 Note 2020 2019 Subsidiary borrowings (a) $ 10,768 $ 8,423 Property-specific borrowings (b) 128,556 127,869 Total $ 139,324 $ 136,292 Principal repayments on subsidiary borrowings due over the next five calendar years and thereafter are as follows: (MILLIONS) Real Estate Renewable Power Infrastructure Private Equity Residential Development Total 2021 $ 314 $ 3 $ — $ — $ — $ 317 2022 — — — — 38 38 2023 393 — — — 227 620 2024 1,974 — 1,681 310 26 3,991 2025 393 314 — — 394 1,101 Thereafter 314 1,826 1,492 — 1,100 4,732 Total Principal repayments 3,388 2,143 3,173 310 1,785 10,799 Deferred financing costs and other (10) (11) (15) — 5 (31) Total – Dec. 31, 2020 $ 3,378 $ 2,132 $ 3,158 $ 310 $ 1,790 $ 10,768 Total – Dec. 31, 2019 $ 2,024 $ 2,098 $ 2,470 $ — $ 1,831 $ 8,423 The current and non-current balances of subsidiary borrowings are as follows: AS AT DEC. 31 (MILLIONS) 2020 2019 Current $ 317 $ 17 Non-current 10,451 8,406 Total $ 10,768 $ 8,423 Subsidiary borrowings by currency include the following: AS AT DEC. 31 (MILLIONS) 2020 Local Currency 2019 Local Currency U.S. dollars $ 4,376 US$ 4,376 $ 5,162 US$ 5,162 Canadian dollars 6,254 C$ 7,963 3,078 C$ 3,998 Brazilian reais 138 Rs 715 183 Rs 737 Total $ 10,768 $ 8,423 Principal repayments on property-specific borrowings due over the next five calendar years and thereafter are as follows: (MILLIONS) Real Estate Renewable Power Infrastructure Private Equity Residential Development Total 2021 $ 16,583 $ 1,194 $ 1,595 $ 1,531 $ 67 $ 20,970 2022 10,654 1,190 894 1,313 25 14,076 2023 7,848 2,063 2,782 2,152 70 14,915 2024 11,279 886 2,583 2,051 325 17,124 2025 8,588 1,179 3,629 4,747 5 18,148 Thereafter 12,525 9,898 9,987 12,018 — 44,428 Total Principal repayments 67,477 16,410 21,470 23,812 492 129,661 Deferred financing costs and other (404) (57) (161) (479) (4) (1,105) Total – Dec. 31, 2020 $ 67,073 $ 16,353 $ 21,309 $ 23,333 $ 488 $ 128,556 Total – Dec. 31, 2019 $ 67,909 $ 15,787 $ 20,776 $ 23,105 $ 292 $ 127,869 The current and non-current balances of property-specific borrowings are as follows: AS AT DEC. 31 (MILLIONS) 2020 2019 Current $ 20,970 $ 15,696 Non-current 107,586 112,173 Total $ 128,556 $ 127,869 Property-specific borrowings by currency include the following: AS AT DEC. 31 (MILLIONS) 2020 Local Currency 2019 Local Currency U.S. dollars $ 78,223 US$ 78,223 $ 84,203 US$ 84,203 British pounds 10,341 £ 7,565 9,812 £ 7,401 Indian rupees 8,978 Rs 655,328 4,143 Rs 295,106 Canadian dollars 8,458 C$ 10,771 7,955 C$ 10,333 Euros 7,816 € 6,398 6,844 € 6,103 Australian dollars 4,799 A$ 6,237 4,815 A$ 6,861 Brazilian reais 3,487 R$ 18,147 3,969 R$ 15,998 Colombian pesos 2,141 COP$ 7,332,845 2,029 COP$ 6,671,818 Korean won 2,082 ₩ 2,268,301 1,959 ₩ 2,264,478 Chilean unidades de fomento 1,187 UF 29 1,099 UF 29 Other currencies 1,044 n/a n/a 1,041 n/a n/a Total $ 128,556 $ 127,869

ACCOUNTS PAYABLE AND OTHER

ACCOUNTS PAYABLE AND OTHER	12 Months Ended
ACCOUNTS PAYABLE AND OTHER	Dec. 31, 2020
Subclassifications of assets, liabilities and equities [abstract]
ACCOUNTS PAYABLE AND OTHER	ACCOUNTS PAYABLE AND OTHER AS AT DEC. 31 (MILLIONS) 2020 2019 Accounts payable $ 9,543 $ 9,583 Provisions 5,065 4,104 Lease liabilities 8,223 5,494 Other liabilities 27,851 23,896 Total $ 50,682 $ 43,077 The current and non-current balances of accounts payable, provisions and other liabilities are as follows: AS AT DEC. 31 (MILLIONS) 2020 2019 Current $ 25,857 $ 23,212 Non-current 24,825 19,865 Total $ 50,682 $ 43,077 Post-Employment Benefits The company offers pension and other post-employment benefit plans to employees of certain of its subsidiaries. The company’s obligations under its defined benefit pension plans are determined periodically through the preparation of actuarial valuations. The benefit plans’ in-year valuation change was a decrease of $298 million (2019 – $149 million). The discount rate used was 2% (2019 – 3%) with an increase in the rate of compensation of 1% (2019 – 2%), and an investment rate of 3% (2019 – 6%). AS AT DEC. 31 (MILLIONS) 2020 2019 Plan assets $ 3,335 $ 3,029 Less accrued benefit obligation: Defined benefit pension plan (4,613) (3,995) Other post-employment benefits (185) (173) Net liability (1,463) (1,139) Less: net actuarial gains and other 11 13 Accrued benefit liability $ (1,452) $ (1,126)

NON-RECOURSE BORROWINGS

NON-RECOURSE BORROWINGS	12 Months Ended
NON-RECOURSE BORROWINGS	Dec. 31, 2020
Disclosure of financial liabilities [abstract]
NON-RECOURSE BORROWINGS	CORPORATE BORROWINGS AS AT DEC. 31 (MILLIONS) Maturity Annual Rate Currency 2020 2019 Term debt Public – Canadian Mar. 1, 2021 5.30 % C$ $ — $ 269 Public – Canadian Mar. 31, 2023 4.54 % C$ 472 463 Public – Canadian Mar. 8, 2024 5.04 % C$ 393 385 Public – U.S. Apr. 1 , 2024 4.00 % US$ 749 749 Public – U.S. Jan. 15, 2025 4.00 % US$ 500 500 Public – Canadian Jan. 28, 2026 4.82 % C$ 675 664 Public – U.S. Jun. 2, 2026 4.25 % US$ 497 497 Public – Canadian Mar. 16, 2027 3.80 % C$ 393 385 Public – U.S. Jan. 25, 2028 3.90 % US$ 649 649 Public – U.S. Mar. 29, 2029 4.85 % US$ 999 998 Public – U.S. Apr. 15, 2030 4.35 % US$ 749 — Public – U.S. Mar. 1, 2033 7.38 % US$ 250 250 Public – Canadian Jun. 14, 2035 5.95 % C$ 331 325 Private – Japanese Dec. 1, 2038 1.42 % JPY 97 92 Public – U.S. Sep. 20, 2047 4.70 % US$ 902 902 Public – U.S. Apr. 15, 2050 3.45 % US$ 594 — Public – U.S. Mar. 30, 2051 3.50 % US$ 497 — Public – U.S. Oct. 16, 2080 4.63 % US$ 400 — 9,147 7,128 Deferred financing costs 1 (70) (45) Total $ 9,077 $ 7,083 1. Deferred financing costs are amortized to interest expense over the term of the borrowing using the effective interest method. Corporate borrowings have a weighted-average interest rate of 4.4% (2019 – 4.6%) and include $2.3 billion (2019 – $2.5 billion) repayable in Canadian dollars of C$2.9 billion (2019 – C$3.2 billion) and $97 million (2019 – $92 million) repayable in Japanese Yen of ¥10 billion (2019 – ¥10 billion). AS AT DEC. 31 Note 2020 2019 Subsidiary borrowings (a) $ 10,768 $ 8,423 Property-specific borrowings (b) 128,556 127,869 Total $ 139,324 $ 136,292 a) Subsidiary Borrowings Principal repayments on subsidiary borrowings due over the next five calendar years and thereafter are as follows: (MILLIONS) Real Estate Renewable Power Infrastructure Private Equity Residential Development Total 2021 $ 314 $ 3 $ — $ — $ — $ 317 2022 — — — — 38 38 2023 393 — — — 227 620 2024 1,974 — 1,681 310 26 3,991 2025 393 314 — — 394 1,101 Thereafter 314 1,826 1,492 — 1,100 4,732 Total Principal repayments 3,388 2,143 3,173 310 1,785 10,799 Deferred financing costs and other (10) (11) (15) — 5 (31) Total – Dec. 31, 2020 $ 3,378 $ 2,132 $ 3,158 $ 310 $ 1,790 $ 10,768 Total – Dec. 31, 2019 $ 2,024 $ 2,098 $ 2,470 $ — $ 1,831 $ 8,423 The weighted-average interest rate on subsidiary borrowings as at December 31, 2020 was 3.5% (2019 – 4.3%). The current and non-current balances of subsidiary borrowings are as follows: AS AT DEC. 31 (MILLIONS) 2020 2019 Current $ 317 $ 17 Non-current 10,451 8,406 Total $ 10,768 $ 8,423 Subsidiary borrowings by currency include the following: AS AT DEC. 31 (MILLIONS) 2020 Local Currency 2019 Local Currency U.S. dollars $ 4,376 US$ 4,376 $ 5,162 US$ 5,162 Canadian dollars 6,254 C$ 7,963 3,078 C$ 3,998 Brazilian reais 138 Rs 715 183 Rs 737 Total $ 10,768 $ 8,423 b) Property-Specific Borrowings Principal repayments on property-specific borrowings due over the next five calendar years and thereafter are as follows: (MILLIONS) Real Estate Renewable Power Infrastructure Private Equity Residential Development Total 2021 $ 16,583 $ 1,194 $ 1,595 $ 1,531 $ 67 $ 20,970 2022 10,654 1,190 894 1,313 25 14,076 2023 7,848 2,063 2,782 2,152 70 14,915 2024 11,279 886 2,583 2,051 325 17,124 2025 8,588 1,179 3,629 4,747 5 18,148 Thereafter 12,525 9,898 9,987 12,018 — 44,428 Total Principal repayments 67,477 16,410 21,470 23,812 492 129,661 Deferred financing costs and other (404) (57) (161) (479) (4) (1,105) Total – Dec. 31, 2020 $ 67,073 $ 16,353 $ 21,309 $ 23,333 $ 488 $ 128,556 Total – Dec. 31, 2019 $ 67,909 $ 15,787 $ 20,776 $ 23,105 $ 292 $ 127,869 The weighted-average interest rate on property-specific borrowings as at December 31, 2020 was 4.2% (2019 – 4.7%). The current and non-current balances of property-specific borrowings are as follows: AS AT DEC. 31 (MILLIONS) 2020 2019 Current $ 20,970 $ 15,696 Non-current 107,586 112,173 Total $ 128,556 $ 127,869 Property-specific borrowings by currency include the following: AS AT DEC. 31 (MILLIONS) 2020 Local Currency 2019 Local Currency U.S. dollars $ 78,223 US$ 78,223 $ 84,203 US$ 84,203 British pounds 10,341 £ 7,565 9,812 £ 7,401 Indian rupees 8,978 Rs 655,328 4,143 Rs 295,106 Canadian dollars 8,458 C$ 10,771 7,955 C$ 10,333 Euros 7,816 € 6,398 6,844 € 6,103 Australian dollars 4,799 A$ 6,237 4,815 A$ 6,861 Brazilian reais 3,487 R$ 18,147 3,969 R$ 15,998 Colombian pesos 2,141 COP$ 7,332,845 2,029 COP$ 6,671,818 Korean won 2,082 ₩ 2,268,301 1,959 ₩ 2,264,478 Chilean unidades de fomento 1,187 UF 29 1,099 UF 29 Other currencies 1,044 n/a n/a 1,041 n/a n/a Total $ 128,556 $ 127,869
Disclosure of corporate borrowings	AS AT DEC. 31 (MILLIONS) Maturity Annual Rate Currency 2020 2019 Term debt Public – Canadian Mar. 1, 2021 5.30 % C$ $ — $ 269 Public – Canadian Mar. 31, 2023 4.54 % C$ 472 463 Public – Canadian Mar. 8, 2024 5.04 % C$ 393 385 Public – U.S. Apr. 1 , 2024 4.00 % US$ 749 749 Public – U.S. Jan. 15, 2025 4.00 % US$ 500 500 Public – Canadian Jan. 28, 2026 4.82 % C$ 675 664 Public – U.S. Jun. 2, 2026 4.25 % US$ 497 497 Public – Canadian Mar. 16, 2027 3.80 % C$ 393 385 Public – U.S. Jan. 25, 2028 3.90 % US$ 649 649 Public – U.S. Mar. 29, 2029 4.85 % US$ 999 998 Public – U.S. Apr. 15, 2030 4.35 % US$ 749 — Public – U.S. Mar. 1, 2033 7.38 % US$ 250 250 Public – Canadian Jun. 14, 2035 5.95 % C$ 331 325 Private – Japanese Dec. 1, 2038 1.42 % JPY 97 92 Public – U.S. Sep. 20, 2047 4.70 % US$ 902 902 Public – U.S. Apr. 15, 2050 3.45 % US$ 594 — Public – U.S. Mar. 30, 2051 3.50 % US$ 497 — Public – U.S. Oct. 16, 2080 4.63 % US$ 400 — 9,147 7,128 Deferred financing costs 1 (70) (45) Total $ 9,077 $ 7,083 1. Deferred financing costs are amortized to interest expense over the term of the borrowing using the effective interest method. AS AT DEC. 31 Note 2020 2019 Subsidiary borrowings (a) $ 10,768 $ 8,423 Property-specific borrowings (b) 128,556 127,869 Total $ 139,324 $ 136,292 Principal repayments on subsidiary borrowings due over the next five calendar years and thereafter are as follows: (MILLIONS) Real Estate Renewable Power Infrastructure Private Equity Residential Development Total 2021 $ 314 $ 3 $ — $ — $ — $ 317 2022 — — — — 38 38 2023 393 — — — 227 620 2024 1,974 — 1,681 310 26 3,991 2025 393 314 — — 394 1,101 Thereafter 314 1,826 1,492 — 1,100 4,732 Total Principal repayments 3,388 2,143 3,173 310 1,785 10,799 Deferred financing costs and other (10) (11) (15) — 5 (31) Total – Dec. 31, 2020 $ 3,378 $ 2,132 $ 3,158 $ 310 $ 1,790 $ 10,768 Total – Dec. 31, 2019 $ 2,024 $ 2,098 $ 2,470 $ — $ 1,831 $ 8,423 The current and non-current balances of subsidiary borrowings are as follows: AS AT DEC. 31 (MILLIONS) 2020 2019 Current $ 317 $ 17 Non-current 10,451 8,406 Total $ 10,768 $ 8,423 Subsidiary borrowings by currency include the following: AS AT DEC. 31 (MILLIONS) 2020 Local Currency 2019 Local Currency U.S. dollars $ 4,376 US$ 4,376 $ 5,162 US$ 5,162 Canadian dollars 6,254 C$ 7,963 3,078 C$ 3,998 Brazilian reais 138 Rs 715 183 Rs 737 Total $ 10,768 $ 8,423 Principal repayments on property-specific borrowings due over the next five calendar years and thereafter are as follows: (MILLIONS) Real Estate Renewable Power Infrastructure Private Equity Residential Development Total 2021 $ 16,583 $ 1,194 $ 1,595 $ 1,531 $ 67 $ 20,970 2022 10,654 1,190 894 1,313 25 14,076 2023 7,848 2,063 2,782 2,152 70 14,915 2024 11,279 886 2,583 2,051 325 17,124 2025 8,588 1,179 3,629 4,747 5 18,148 Thereafter 12,525 9,898 9,987 12,018 — 44,428 Total Principal repayments 67,477 16,410 21,470 23,812 492 129,661 Deferred financing costs and other (404) (57) (161) (479) (4) (1,105) Total – Dec. 31, 2020 $ 67,073 $ 16,353 $ 21,309 $ 23,333 $ 488 $ 128,556 Total – Dec. 31, 2019 $ 67,909 $ 15,787 $ 20,776 $ 23,105 $ 292 $ 127,869 The current and non-current balances of property-specific borrowings are as follows: AS AT DEC. 31 (MILLIONS) 2020 2019 Current $ 20,970 $ 15,696 Non-current 107,586 112,173 Total $ 128,556 $ 127,869 Property-specific borrowings by currency include the following: AS AT DEC. 31 (MILLIONS) 2020 Local Currency 2019 Local Currency U.S. dollars $ 78,223 US$ 78,223 $ 84,203 US$ 84,203 British pounds 10,341 £ 7,565 9,812 £ 7,401 Indian rupees 8,978 Rs 655,328 4,143 Rs 295,106 Canadian dollars 8,458 C$ 10,771 7,955 C$ 10,333 Euros 7,816 € 6,398 6,844 € 6,103 Australian dollars 4,799 A$ 6,237 4,815 A$ 6,861 Brazilian reais 3,487 R$ 18,147 3,969 R$ 15,998 Colombian pesos 2,141 COP$ 7,332,845 2,029 COP$ 6,671,818 Korean won 2,082 ₩ 2,268,301 1,959 ₩ 2,264,478 Chilean unidades de fomento 1,187 UF 29 1,099 UF 29 Other currencies 1,044 n/a n/a 1,041 n/a n/a Total $ 128,556 $ 127,869

SUBSIDIARY EQUITY OBLIGATIONS

SUBSIDIARY EQUITY OBLIGATIONS	12 Months Ended
SUBSIDIARY EQUITY OBLIGATIONS	Dec. 31, 2020
Disclosure of financial liabilities [abstract]
Disclosure of Equity Interest Classified as Liabilities [Text Block]	SUBSIDIARY EQUITY OBLIGATIONS Subsidiary equity obligations consist of the following: AS AT DEC. 31 (MILLIONS) Note 2020 2019 Subsidiary preferred equity units (a) $ 1,679 $ 1,650 Limited-life funds and redeemable fund units (b) 1,456 1,896 Subsidiary preferred shares and capital (c) 564 586 Total $ 3,699 $ 4,132 a) Subsidiary Preferred Equity Units In 2014, BPY issued $1.8 billion of exchangeable preferred equity units in three $600 million tranches redeemable in 2021, 2024 and 2026, respectively. The preferred equity units are exchangeable into equity units of BPY at $25.70 per unit, at the option of the holder, at any time up to and including the maturity date. BPY may redeem the preferred equity units after specified periods if the BPY equity unit price exceeds predetermined amounts. At maturity, the preferred equity units that remain outstanding will be converted into BPY equity units at the lower of $25.70 or the then market price of a BPY equity unit. The preferred equity units represent a compound financial instrument comprised of the financial liability representing the company’s obligations to redeem the preferred equity units at maturity for a variable number of BPY units and an equity instrument representing the holder’s right to convert the preferred equity units to a fixed number of BPY units. The company is required under certain circumstances to purchase the preferred equity units at their redemption value in equal amounts in 2021 and 2024 and may be required to purchase the 2026 tranche, as further described in Note 28(a). AS AT DEC. 31 (MILLIONS, EXCEPT PER SHARE INFORMATION) Shares Outstanding Cumulative Dividend Rate Local Currency 2020 2019 Series 1 24,000,000 6.25 % US$ $ 586 $ 574 Series 2 24,000,000 6.50 % US$ 555 546 Series 3 24,000,000 6.75 % US$ 538 530 Total $ 1,679 $ 1,650 b) Limited-Life Funds and Redeemable Fund Units Limited-life funds and redeemable fund units represent interests held in our consolidated funds by third-party investors that have been classified as a liability rather than as non-controlling interest, as holders of these interests can cause our funds to redeem their interest in the fund for cash equivalents at a specified time. As at December 31, 2020, we have $1.5 billion (2019 – $1.9 billion) of subsidiary equity obligations arising from limited-life funds and redeemable fund units. In our real estate business, limited-life fund obligations include $864 million (2019 – $921 million) of equity interests held by third-party investors in two consolidated funds that have been classified as a liability, instead of non-controlling interest, as holders of these interests can cause the funds to redeem their interests in the fund for cash equivalents at the fair value of the interest at a set date. As at December 31, 2020, we have $517 million (2019 – $934 million) of subsidiary equity obligations arising from limited-life fund units in our infrastructure business. These obligations are primarily composed of the portion of the equity interest held by third-party investors in our timberland and agriculture funds that are attributed to the value of the land held in the fund. The value of this equity interest has been classified as a liability, instead of non-controlling interest, as we are obligated to purchase the land from the third-party investors on maturity of the fund. We also have $75 million of redeemable fund units (2019 – $41 million) in certain funds managed by our public securities business. c) Subsidiary Preferred Shares and Capital Preferred shares are classified as liabilities if the holders of the preferred shares have the right, after a fixed date, to convert the shares into common equity of the issuer based on the market price of the common equity of the issuer at that time unless they are previously redeemed by the issuer. The dividends paid on these securities are recorded in interest expense. As at December 31, 2020 and 2019, the balance related to obligations of BPY and its subsidiaries. AS AT DEC. 31 (MILLIONS, EXCEPT PER SHARE INFORMATION) Shares Outstanding Cumulative Dividend Rate Local Currency 2020 2019 Brookfield Property Split Corp (“BOP Split”) senior preferred shares Series 1 842,534 5.25 % US$ $ 21 $ 23 Series 2 556,746 5.75 % C$ 11 13 Series 3 789,718 5.00 % C$ 16 18 Series 4 594,994 5.20 % C$ 12 18 BSREP II RH B LLC (“Manufactured Housing”) preferred capital 9.00 % US$ 249 249 Rouse Series A preferred shares 5,600,000 5.00 % US$ 142 142 BSREP II Vintage Estate Partners LLC (“Vintage Estates”) preferred shares 10,000 5.00 % US$ 40 40 BIP Investment Corporation Series 1 Senior preferred shares 4,000,000 5.85 % C$ 73 73 Forest City Enterprises L.P. (“Forest City”) & Other Preferred Capital — 10 Total $ 564 $ 586 Each series of the BOP Split senior preferred shares are redeemable at the option of either the issuer or the holder as the redemption and conversion option dates have passed. Subsidiary preferred capital includes $249 million at December 31, 2020 (2019 – $249 million) of preferred equity interests held by a third-party investor in Manufactured Housing which has been classified as a liability, rather than as non-controlling interest, due to the fact that the holders are only entitled to distributions equal to their capital balance plus 9% annual return payable in monthly distributions until maturity in December 2025. The preferred capital was issued to partially fund the acquisition of the Manufactured Housing portfolio during the first quarter of 2017. Subsidiary preferred shares include $142 million at December 31, 2020 (2019 – $142 million) of preferred equity interests held by a third-party investor in Rouse Properties, L.P., which have been classified as a liability, rather than as non-controlling interests, due to the fact that the interests have no voting rights and are mandatorily redeemable on or after November 12, 2025 for a set price per unit plus any accrued but unpaid distributions; distributions are capped and accrue regardless of available cash generated.

SUBSIDIARY PUBLIC ISSUERS AND F

SUBSIDIARY PUBLIC ISSUERS AND FINANCE SUBSIDIARY	12 Months Ended
SUBSIDIARY PUBLIC ISSUERS AND FINANCE SUBSIDIARY	Dec. 31, 2020
Disclosure of subsidiaries [abstract]
SUBSIDIARIES	SUBSIDIARIES The following table presents the details of the company’s subsidiaries with significant non-controlling interests: Jurisdiction of Formation Ownership Interest Held by Non-Controlling Interests 1, 2 AS AT DEC. 31 2020 2019 Brookfield Property Partners L.P. (“BPY”) Bermuda 38.3 % 44.8 % Brookfield Renewable Partners L.P. (“BEP”) 3 Bermuda 49.3 % 39.5 % Brookfield Infrastructure Partners L.P. (“BIP”) 4 Bermuda 71.5 % 70.4 % Brookfield Business Partners L.P. (“BBU”) Bermuda 36.5 % 37.3 % 1. Control and associated voting rights of the limited partnerships (BPY, BEP, BIP and BBU) reside with their respective general partners which are wholly owned subsidiaries of the company. The company’s general partner interest is entitled to earn base management fees and incentive payments in the form of incentive distribution rights or performance fees. 2. The company’s ownership interest in BPY, BEP, BIP and BBU includes a combination of redemption-exchange units (REUs), Class A limited partnership units, special limited partnership units, general partnership units and units or shares that are exchangeable for units in our listed partnerships, in each subsidiary, where applicable. Each of BPY, BEP, BIP and BBU’s partnership capital includes its Class A limited partnership units whereas REUs and general partnership units are considered non-controlling interests for the respective partnerships. REUs share the same economic attributes in all respects except for the redemption right attached thereto. The REUs and general partnership units participate in earnings and distributions on a per unit basis equivalent to the per unit participation of the Class A limited partnership units of the subsidiary. 3. Ownership interest held by Non-Controlling Interests represents the combined units not held in BEP LP and Brookfield Renewable Corporation (“BEPC”). 4. Ownership interest held by Non-Controlling Interests represents the combined units not held in BIP LP and Brookfield Infrastructure Corporation (“BIPC”). The table below presents the exchanges on which the company’s subsidiaries with significant non-controlling interests were publicly listed as of December 31, 2020: TSX NYSE Nasdaq BPY BPY.UN N/A BPY BEP BEP.UN BEP N/A BIP BIP.UN BIP N/A BBU BBU.UN BBU N/A The following table outlines the composition of accumulated non-controlling interests presented within the company’s consolidated financial statements: AS AT DEC. 31 (MILLIONS) 2020 2019 BPY $ 25,986 $ 29,165 BEP 17,194 13,321 BIP 19,753 20,036 BBU 9,162 8,664 Individually immaterial subsidiaries with non-controlling interests 14,709 10,647 $ 86,804 $ 81,833 All publicly listed entities are subject to independent governance. Accordingly, the company has no direct access to the assets of these subsidiaries. Summarized financial information with respect to the company’s subsidiaries with significant non-controlling interests is set out below. The summarized financial information represents amounts before intra-group eliminations: BPY BEP BIP BBU AS AT AND FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 2020 2019 2020 2019 2020 2019 Current assets $ 5,009 $ 3,289 $ 1,742 $ 1,474 $ 3,711 $ 5,841 $ 14,493 $ 12,795 Non-current assets 102,942 108,354 47,980 34,217 57,620 50,467 40,253 38,956 Current liabilities (18,220) (12,466) (2,876) (1,678) (5,524) (5,439) (12,133) (11,024) Non-current liabilities (48,208) (54,242) (25,079) (15,882) (34,134) (28,692) (31,276) (29,674) Non-controlling interests (25,986) (29,165) (17,194) (13,321) (19,753) (20,036) (9,162) (8,664) Equity attributable to Brookfield $ 15,537 $ 15,770 $ 4,573 $ 4,810 $ 1,920 $ 2,141 $ 2,175 $ 2,389 Revenues $ 6,593 $ 8,203 $ 3,810 $ 2,980 $ 8,885 $ 6,597 $ 37,635 $ 43,032 Net income (loss) attributable to: Non-controlling interests $ (673) $ 2,091 $ 162 $ 348 $ 863 $ 636 $ 686 $ 353 Shareholders (1,385) 1,066 (207) (75) 41 14 (106) 81 $ (2,058) $ 3,157 $ (45) $ 273 $ 904 $ 650 $ 580 $ 434 Other comprehensive income (loss) attributable to: Non-controlling interests $ 153 $ 234 $ 1,621 $ 1,179 $ (82) $ 486 $ 25 $ (159) Shareholders 261 89 653 546 20 104 47 (39) $ 414 $ 323 $ 2,274 $ 1,725 $ (62) $ 590 $ 72 $ (198) The summarized cash flows of the company’s subsidiaries with material non-controlling interests are as follows: BPY BEP BIP BBU FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 2020 2019 2020 2019 2020 2019 Cash flows from (used in): Operating activities $ 1,332 $ 624 $ 1,296 $ 1,212 $ 2,530 $ 2,143 $ 4,205 $ 2,163 Financing activities (215) (892) (792) (1,010) 2,126 9,542 (1,077) 15,925 Investing activities (99) (1,611) (426) (251) (4,609) (11,372) (2,334) (17,939) Distributions paid to non-controlling interests in common equity $ 528 $ 576 $ 323 $ 254 $ 642 $ 628 $ 13 $ 13

EQUITY

EQUITY	12 Months Ended
EQUITY	Dec. 31, 2020
Equity [abstract]
EQUITY	EQUITY Equity consists of the following: AS AT DEC. 31 (MILLIONS) Note 2020 2019 Preferred equity (a) $ 4,145 $ 4,145 Non-controlling interests (b) 86,804 81,833 Common equity (c) 31,693 30,868 $ 122,642 $ 116,846 a) Preferred Equity Preferred equity includes perpetual preferred shares and rate-reset preferred shares and consists of the following: Average Rate AS AT DEC. 31 (MILLIONS) 2020 2019 2020 2019 Perpetual preferred shares Floating rate 1.76 % 2.91 % $ 531 $ 531 Fixed rate 4.82 % 4.82 % 739 739 3.54 % 4.02 % 1,270 1,270 Fixed rate-reset preferred shares 4.07 % 4.28 % 2,875 2,875 3.91 % 4.20 % $ 4,145 $ 4,145 Further details on each series of preferred shares are as follows: Issued and Outstanding AS AT DEC. 31 (MILLIONS, EXCEPT PER SHARE INFORMATION) Rate 2020 2019 2020 2019 Class A preferred shares Perpetual preferred shares Series 2 70% P 10,457,685 10,457,685 $ 169 $ 169 Series 4 70% P/8.5% 2,795,910 2,795,910 45 45 Series 8 Variable up to P 2,476,185 2,476,185 42 42 Series 13 70% P 9,290,096 9,290,096 195 195 Series 15 B.A. + 40 b.p. 2,000,000 2,000,000 42 42 Series 17 4.75 % 7,840,204 7,840,204 171 171 Series 18 4.75 % 7,866,749 7,866,749 178 178 Series 25 3-Month T-Bill + 230 b.p. 1,529,133 1,529,133 38 38 Series 36 4.85 % 7,842,909 7,842,909 197 197 Series 37 4.90 % 7,830,091 7,830,091 193 193 1,270 1,270 Rate-reset preferred shares 2 Series 9 2.75 % 1,515,981 1,515,981 21 21 Series 24 3.01 % 9,278,894 9,278,894 227 227 Series 26 3.47 % 9,770,928 9,770,928 240 240 Series 28 2.73 % 9,233,927 9,233,927 232 232 Series 30 4.69 % 9,787,090 9,787,090 241 241 Series 32 5.06 % 11,750,299 11,750,299 297 297 Series 34 3 4.44 % 9,876,735 9,876,735 253 253 Series 38 4 3.57 % 7,906,132 7,906,132 179 179 Series 40 5 4.03 % 11,841,025 11,841,025 271 271 Series 42 6 3.25 % 11,887,500 11,887,500 266 266 Series 44 5.00 % 9,831,929 9,831,929 187 187 Series 46 4.80 % 11,740,797 11,740,797 217 217 Series 48 4.75 % 11,885,972 11,885,972 244 244 2,875 2,875 Total $ 4,145 $ 4,145 1. Rate determined quarterly. 2. Dividend rates are fixed for 5 to 6 years from the quarter end dates after issuance, June 30, 2011, March 31, 2012, June 30, 2012, December 31, 2012, September 30, 2013, March 31, 2014, June 30, 2014, December 31, 2014, December 31, 2015, December 31, 2016 and December 31, 2017, respectively and reset after 5 to 6 years to the 5-year Government of Canada bond rate plus between 180 and 417 basis points. 3. Dividend rate reset commenced March 31, 2019. 4. Dividend rate reset commenced March 31, 2020. 5. Dividend rate reset commenced September 30, 2019. 6. Dividend rate reset commenced June 30, 2020. P – Prime Rate, B.A. – Bankers’ Acceptance Rate, b.p. – Basis Points. The company is authorized to issue an unlimited number of Class A preferred shares and an unlimited number of Class AA preferred shares, issuable in series. No Class AA preferred shares have been issued. The Class A preferred shares are entitled to preference over the Class A and Class B Limited Voting Shares (“Class A and B shares”) on the declaration of dividends and other distributions to shareholders. All series of the outstanding preferred shares have a par value of C$25.00 per share. b) Non-controlling Interests Non-controlling interests represent the common and preferred equity in consolidated entities that are owned by other shareholders. AS AT DEC. 31 (MILLIONS) 2020 2019 Common equity $ 80,915 $ 76,557 Preferred equity 5,889 5,276 Total $ 86,804 $ 81,833 Further information on non-controlling interests is provided in Note 4 – Subsidiaries. c) Common Equity The company’s common equity is comprised of the following: AS AT DEC. 31 (MILLIONS) 2020 2019 Common shares $ 7,368 $ 7,305 Contributed surplus 285 286 Retained earnings 15,178 16,026 Ownership changes 2,691 1,010 Accumulated other comprehensive income 6,171 6,241 Common equity $ 31,693 $ 30,868 The company is authorized to issue an unlimited number of Class A Limited Voting Shares ("Class A shares") and 85,120 Class B Limited Voting Shares ("Class B shares"). The company’s Class A shares and Class B shares have no stated par value. The holders of Class A shares and Class B shares rank on par with each other with respect to the payment of dividends and the return of capital on the liquidation, dissolution or winding up of the company or any other distribution of the assets of the company among its shareholders for the purpose of winding up its affairs. Holders of the Class A shares are entitled to elect half of the Board of Directors of the company and holders of the Class B shares are entitled to elect the other half of the Board of Directors. With respect to the Class A and Class B shares, there are no dilutive factors, material or otherwise, that would result in different diluted earnings per share between the classes. This relationship holds true irrespective of the number of dilutive instruments issued in either one of the respective classes of Class A and Class B shares, as both classes of shares participate equally, on a pro rata basis, in the dividends, earnings and net assets of the company, whether taken before or after dilutive instruments, regardless of which class of shares is diluted. On April 1, 2020, the company completed a three-for-two stock split of the company’s outstanding Class A shares. All share count and per share disclosure are presented on a post-split basis. The holders of the company’s Class A shares and Class B shares received cash dividends during 2020 of $0.48 per share (2019 – $0.43 per share). The number of issued and outstanding Class A and Class B shares and unexercised options are as follows: AS AT DEC. 31 2020 2019 1 Class A shares 2 1,510,635,291 1,509,208,521 Class B shares 85,120 85,120 Shares outstanding 2 1,510,720,411 1,509,293,641 Unexercised options and other share-based plans 3 62,975,947 70,018,161 Total diluted shares 1,573,696,358 1,579,311,802 1. Adjusted to reflect the three-for-two stock split effective on April 1, 2020. 2. Net of 64,197,815 Class A shares held by the company in respect of long-term compensation agreements as at December 31, 2020 (December 31, 2019 – 63,417,346). 3. Includes management share option plan and escrowed stock plan. The authorized common share capital consists of an unlimited number of Class A shares and 85,120 Class B shares. Shares issued and outstanding changed as follows: FOR THE YEARS ENDED DEC. 31 2020 1 2019 1 Outstanding, beginning of year 2 1,509,293,641 1,432,714,261 Issued (repurchased) Issuances — 79,136,155 Repurchases (8,932,576) (10,782,801) Long-term share ownership plans 3 10,137,294 8,019,626 Dividend reinvestment plan and others 222,052 206,400 Outstanding, end of year 4 1,510,720,411 1,509,293,641 1. Adjusted to reflect the three-for-two stock split effective on April 1, 2020. 2. Net of 63,417,346 Class A shares held by the company in respect of long-term compensation agreements as at December 31, 2019 (December 31, 2018 – 56,307,796). 3. Includes management share option plan and restricted stock plan. 4. Net of 64,197,815 Class A shares held by the company in respect of long-term compensation agreements as at December 31, 2020 (December 31, 2019 – 63,417,346). Earnings Per Share The components of basic and diluted earnings per share are summarized in the following table: FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 Net (loss) income attributable to shareholders $ (134) $ 2,807 Preferred share dividends (141) (152) Dilutive effect of conversion of subsidiary preferred shares 93 (74) Net (loss) income available to shareholders $ (182) $ 2,581 FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 1 Weighted average – Class A and Class B shares 1,511.4 1,452.9 Dilutive effect of the conversion of options and escrowed shares using treasury stock method — 35.5 Class A and Class B shares and share equivalents 1,511.4 1,488.4 1. Adjusted to reflect the three-for-two stock split effective on April 1, 2020. Share-Based Compensation The expense recognized for share-based compensation is summarized in the following table: FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 Expense arising from equity-settled share-based payment transactions $ 89 $ 81 Expense arising from cash-settled share-based payment transactions 104 506 Total expense arising from share-based payment transactions 193 587 Effect of hedging program (99) (500) Total expense included in consolidated income $ 94 $ 87 The share-based payment plans are described below. There were no cancellations of or modifications to any of the plans during 2020 and 2019. Equity-settled Share-based Awards Management Share Option Plan Options issued under the company’s Management Share Option Plan (“MSOP”) vest over a period of up to five years, expire 10 years after the grant date and are settled through issuance of Class A shares. The exercise price is equal to the market price at the grant date. For the year ended December 31, 2020, the total expense incurred with respect to MSOP totaled $24 million (2019 – $31 million). The changes in the number of options during 2020 and 2019 were as follows: TSX NYSE Number of Options (000’s) 1 Weighted- Average Exercise Price Number of Options (000’s) 2 Weighted- Average Exercise Price Outstanding as at January 1, 2020 — C$ — 50,703 US$ 22.69 Granted — — 3,341 45.21 Exercised — — (6,382) 16.50 Cancelled — — (295) 27.80 Outstanding as at December 31, 2020 — C$ — 47,367 US$ 25.08 1. Options to acquire TSX listed Class A shares. 2. Options to acquire NYSE listed Class A shares. TSX NYSE Number of Options (000’s) 2 Weighted- Average Exercise Price Number of Options (000’s) 3 Weighted- Average Exercise Price Outstanding as at January 1, 2019 1 1,185 C$ 7.84 55,113 US$ 19.68 Granted 1 — — 7,616 30.42 Exercised 1 (1,185) 7.84 (11,747) 13.50 Cancelled 1 — — (279) 26.68 Outstanding as at December 31, 2019 1 — C$ — 50,703 US$ 22.69 1. Adjusted to reflect the three-for-two stock split effective on April 1, 2020. 2. Options to acquire TSX listed Class A shares. 3. Options to acquire NYSE listed Class A shares. The weighted-average fair value of options granted for the year ended December 31, 2020 was $5.54 (2019 – $3.92), and was determined using the Black-Scholes valuation model, with inputs to the model as follows: FOR THE YEARS ENDED DEC. 31 Unit 2020 2019 1 Weighted-average share price US$ 45.21 30.42 Average term to exercise Years 7.5 7.5 Share price volatility 2 % 17.0 16.9 Liquidity discount % 25.0 25.0 Weighted-average annual dividend yield % 1.5 2.0 Risk-free rate % 1.4 2.5 1. Adjusted to reflect the three-for-two stock split effective on April 1, 2020. 2. Share price volatility was determined based on historical share prices over a similar period to the average term to exercise. At December 31, 2020, the following options to purchase Class A shares were outstanding: Options Outstanding (000’s) Exercise Price Weighted-Average Remaining Life Vested Unvested Total US$10.30 – US$15.35 1.0 years 2,254 — 2,254 US$15.58 – US$20.39 3.8 years 11,860 1,131 12,991 US$22.50 – US$26.93 5.9 years 14,280 7,010 21,290 US$29.48 – US$38.64 8.2 years 1,833 5,672 7,505 US$45.21 9.2 years — 3,327 3,327 30,227 17,140 47,367 At December 31, 2019, the following options to purchase Class A shares were outstanding: Options Outstanding (000’s) 1 Exercise Price 1 Weighted-Average Remaining Life Vested Unvested Total US$10.30 – US$15.35 1.6 years 5,619 — 5,619 US$15.58 – US$20.39 4.7 years 12,523 2,313 14,836 US$22.50 – US$26.93 6.8 years 11,371 11,271 22,642 US$29.48 – US$38.64 9.2 years 613 6,993 7,606 30,126 20,577 50,703 1. Adjusted to reflect the three-for-two stock split effective on April 1, 2020. Escrowed Stock Plan The Escrowed Stock Plan (the “ES Plan”) provides executives with indirect ownership of Class A shares. Under the ES Plan, executives are granted common shares (the “ES Shares”) in one or more private companies that own Class A shares. The Class A shares are purchased on the open market with the purchase cost funded by the company. The ES shares generally vest over five years and must be held to the fifth anniversary of the grant date. At a date no more than ten years from the grant date, all outstanding ES shares will be exchanged for Class A shares issued by the company based on the market value of Class A shares at the time of the exchange. The number of Class A shares issued on exchange will be less than the Class A shares purchased under the ES Plan resulting in a net reduction in the number of Class A shares issued by the company. During 2020, 3.8 million Class A shares were purchased in respect of ES shares granted to executives under the ES Plan (2019 – $16.0 million Class A shares) during the year. For the year ended December 31, 2020, the total expense incurred with respect to the ES Plan totaled $35 million (2019 – $25 million). The weighted-average fair value of escrowed shares granted for the year ended December 31, 2020 was $5.54 (2019 – $4.54), and was determined using the Black-Scholes model of valuation with inputs to the model as follows: FOR THE YEARS ENDED DEC. 31 Unit 2020 2019 1 Weighted-average share price US$ 45.21 34.08 Average term to exercise Years 7.5 8.5 Share price volatility 2 % 17.0 17.3 Liquidity discount % 25.0 25.0 Weighted-average annual dividend yield % 1.5 1.8 Risk-free rate % 1.4 2.1 1. Adjusted to reflect the three-for-two stock split effective on April 1, 2020. 2. Share price volatility was determined based on historical share prices over a similar period to the average term to exercise. The change in the number of ES shares during 2020 and 2019 was as follows: Number of Weighted- Average Exercise Price Outstanding at January 1, 2020 54,791 $ 25.82 Granted 3,841 45.21 Exercised (11,613) 19.66 Cancelled (303) 35.85 Outstanding at December 31, 2020 46,716 $ 28.88 Number of Weighted- Average Exercise Price Outstanding at January 1, 2019 1 40,655 $ 22.18 Granted 1 15,975 34.08 Exercised 1 (1,613) 15.77 Cancelled 1 (226) $ 26.32 Outstanding at December 31, 2019 1 54,791 25.82 1. Adjusted to reflect the three-for-two stock split effective on April 1, 2020. Restricted Stock Plan The Restricted Stock Plan awards executives with Class A shares purchased on the open market (“Restricted Shares”). Under the Restricted Stock Plan, Restricted Shares awarded vest over a period of up to five years, except for Restricted Shares awarded in lieu of a cash bonus, which may vest immediately. Vested and unvested Restricted Shares are subject to a hold period of up to five years. Holders of Restricted Shares are entitled to vote Restricted Shares and to receive associated dividends. Employee compensation expense for the Restricted Stock Plan is charged against income over the vesting period. During 2020, Brookfield granted 1.0 million Class A shares (2019 – 1.2 million) pursuant to the terms and conditions of the Restricted Stock Plan, resulting in the recognition of $30 million (2019 – $25 million) of compensation expense. Cash-settled Share-based Awards Deferred Share Unit Plan and Restricted Share Unit Plan The Deferred Share Unit Plan and Restricted Share Unit Plan provide for the issuance of DSUs and RSUs, respectively. Under these plans, qualifying employees and directors receive varying percentages of their annual incentive bonus or directors’ fees in the form of DSUs and RSUs. The DSUs and RSUs vest over periods of up to five years, and DSUs accumulate additional DSUs at the same rate as dividends on common shares based on the market value of the common shares at the time of the dividend. Participants are not allowed to convert DSUs and RSUs into cash until retirement or cessation of employment. The value of the DSUs, when converted to cash, will be equivalent to the market value of the common shares at the time the conversion takes place. The value of the RSUs, when converted into cash, will be equivalent to the difference between the market price of equivalent number of common shares at the time the conversion takes place and the market price on the date the RSUs are granted. The company uses equity derivative contracts to offset its exposure to the change in share prices in respect of vested and unvested DSUs and RSUs. The fair value of the vested DSUs and RSUs as at December 31, 2020 was $1.3 billion (2019 – $1.4 billion). Employee compensation expense for these plans is charged against income over the vesting period of the DSUs and RSUs. The amount payable by the company in respect of vested DSUs and RSUs changes as a result of dividends and share price movements. All of the amounts attributable to changes in the amounts payable by the company are recorded as employee compensation expense in the period of the change. For the year ended December 31, 2020, employee compensation expense totaled $5 million (2019 – $7 million), net of the impact of hedging arrangements. The change in the number of DSUs and RSUs during 2020 and 2019 was as follows: DSUs RSUs Number Number Weighted- Average Exercise Price Outstanding at January 1, 2020 21,204 15,810 C$ 6.14 Granted and reinvested 623 — — Exercised and cancelled (3,106) (2,131) 6.35 Outstanding at December 31, 2020 18,721 13,679 C$ 6.10 DSUs RSUs Number Number Weighted- Average Exercise Price Outstanding at January 1, 2019 1 21,956 15,810 C$ 6.14 Granted and reinvested 1 799 — — Exercised and cancelled 1 (1,551) — — Outstanding at December 31, 2019 1 21,204 15,810 C$ 6.14 1. Adjusted to reflect the three-for-two stock split effective on April 1, 2020. The fair value of each DSU is equal to the traded price of the company’s common shares. Unit Dec. 31, 2020 Dec. 31, 2019 1 Share price on date of measurement C$ 52.62 50.02 Share price on date of measurement US$ 41.27 38.53 1. Adjusted to reflect the three-for-two stock split effective on April 1, 2020. The fair value of RSUs was determined primarily using the following inputs: Unit Dec. 31, 2020 Dec. 31, 2019 1 Share price on date of measurement C$ 52.62 50.02 Weighted-average fair value of a unit C$ 46.52 43.88 1. Adjusted to reflect the three-for-two stock split effective on April 1, 2020.

REVENUES

REVENUES	12 Months Ended
REVENUES	Dec. 31, 2020
Disclosure of disaggregation of revenue from contracts with customers [abstract]
Disclosure of revenue from contracts with customers [text block]	Timing of Recognition of Revenue from Contracts with Customers FOR THE YEAR ENDED DEC. 31, 2020 (MILLIONS) Asset Corporate Real Estate Renewable Infrastructure Private Residential Total Goods and services provided at a point in time $ — $ — $ 553 $ 143 $ 160 $ 28,944 $ 2,167 $ 31,967 Services transferred over a period of time 246 — 1,850 3,614 8,451 6,655 3 20,819 $ 246 $ — $ 2,403 $ 3,757 $ 8,611 $ 35,599 $ 2,170 $ 52,786 FOR THE YEAR ENDED DEC. 31, 2019 (MILLIONS) Asset Corporate Real Estate Renewable Infrastructure Private Residential Total Goods and services provided at a point in time $ — $ 9 $ 1,193 $ 95 $ 225 $ 34,141 $ 2,384 $ 38,047 Services transferred over a period of time 271 — 2,640 3,715 6,108 8,006 12 20,752 $ 271 $ 9 $ 3,833 $ 3,810 $ 6,333 $ 42,147 $ 2,396 $ 58,799
Disclosure of revenue	REVENUES We perform a disaggregated analysis of revenues considering the nature, amount, timing and uncertainty of revenues. This includes disclosure of our revenues by segment and type, as well as a breakdown of whether revenues from goods or services are recognized at a point in time or delivered over a period of time. a) Revenue by Type FOR THE YEAR ENDED DEC. 31, 2020 (MILLIONS) Asset Corporate Real Estate Renewable Infrastructure Private Residential Total Revenue from contracts with customers $ 246 $ — $ 2,403 $ 3,757 $ 8,611 $ 35,599 $ 2,170 $ 52,786 Other revenue — 872 6,448 328 683 1,562 73 9,966 $ 246 $ 872 $ 8,851 $ 4,085 $ 9,294 $ 37,161 $ 2,243 $ 62,752 FOR THE YEAR ENDED DEC. 31, 2019 (MILLIONS) Asset Corporate Real Estate Renewable Infrastructure Private Residential Total Revenue from contracts with customers $ 271 $ 9 $ 3,833 $ 3,810 $ 6,333 $ 42,147 $ 2,396 $ 58,799 Other revenue — 499 6,609 149 758 952 60 9,027 $ 271 $ 508 $ 10,442 $ 3,959 $ 7,091 $ 43,099 $ 2,456 $ 67,826 b) Timing of Recognition of Revenue from Contracts with Customers FOR THE YEAR ENDED DEC. 31, 2020 (MILLIONS) Asset Corporate Real Estate Renewable Infrastructure Private Residential Total Goods and services provided at a point in time $ — $ — $ 553 $ 143 $ 160 $ 28,944 $ 2,167 $ 31,967 Services transferred over a period of time 246 — 1,850 3,614 8,451 6,655 3 20,819 $ 246 $ — $ 2,403 $ 3,757 $ 8,611 $ 35,599 $ 2,170 $ 52,786 FOR THE YEAR ENDED DEC. 31, 2019 (MILLIONS) Asset Corporate Real Estate Renewable Infrastructure Private Residential Total Goods and services provided at a point in time $ — $ 9 $ 1,193 $ 95 $ 225 $ 34,141 $ 2,384 $ 38,047 Services transferred over a period of time 271 — 2,640 3,715 6,108 8,006 12 20,752 $ 271 $ 9 $ 3,833 $ 3,810 $ 6,333 $ 42,147 $ 2,396 $ 58,799 Remaining Performance Obligation Private Equity In our construction services business, backlog is defined as revenue yet to be delivered (i.e. remaining performance obligations) on construction projects that have been secured via an executed contract, work order or letter of intent. As at December 31, 2020 our backlog of construction projects was approximately $5.6 billion (2019 – $7.0 billion), with an overall weighted-average remaining project life of approximately two years (2019 – two years). In our Brazilian water and wastewater services business, our long-term, inflation-adjusted concession service contracts with various municipalities have an average remaining contract duration of 24 years as at December 31, 2020 (2019 – 24 years). Others In our asset management, infrastructure and renewable power businesses, revenue is generally recognized as invoiced for contracts recognized over a period of time as the amounts invoiced are commensurate with the value provided to the customers. c) Lease Income Our leases in which the company is a lessor are primarily operating in nature. Total lease income from our assets leased out on operating leases totaled $6.7 billion (2019 - $6.8 billion) including $75 million (2019 - $67 million) of income related to variable lease income that is not dependent on an index or rate. The following table presents the undiscounted contractual earnings receivable of the company’s leases by expected period of receipt: Payments Receivable by Period AS AT DEC. 31, 2020 (MILLIONS) Less than 1 Year 1 – 3 Years 4 – 5 Years After 5 Years Total Receivables from lease contracts $ 4,738 $ 8,385 $ 6,661 $ 15,971 $ 35,755 Payments Receivable by Period AS AT DEC. 31, 2019 (MILLIONS) Less than 1 Year 1 – 3 Years 4 – 5 Years After 5 Years Total Receivables from lease contracts $ 4,514 $ 8,239 $ 6,744 $ 15,875 $ 35,372

DIRECT COSTS

DIRECT COSTS	12 Months Ended
DIRECT COSTS	Dec. 31, 2020
Analysis of income and expense [abstract]
DIRECT COSTS	DIRECT COSTS Direct costs include all attributable expenses except interest, depreciation and amortization, taxes and fair value changes and primarily relate to cost of sales and compensation. The following table lists direct costs for 2020 and 2019 by nature: FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 Cost of sales $ 35,150 $ 41,463 Compensation 6,857 6,035 Selling, general and administrative expenses 2,860 2,612 Property taxes, sales taxes and other 2,519 2,618 $ 47,386 $ 52,728

FAIR VALUE CHANGES

FAIR VALUE CHANGES	12 Months Ended
FAIR VALUE CHANGES	Dec. 31, 2020
Fair Value Measurement [Abstract]
Fair value changes	FAIR VALUE CHANGES Fair value changes recorded in net income represent gains or losses arising from changes in the fair value of assets and liabilities, including derivative financial instruments, accounted for using the fair value method and are comprised of the following: FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 Investment properties $ (269) $ 1,710 Transaction related expenses, net of gains 20 (895) Financial contracts 686 (140) Impairment and provisions (808) (825) Other fair value changes (1,052) (681) $ (1,423) $ (831)

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	12 Months Ended
DERIVATIVE FINANCIAL INSTRUMENTS	Dec. 31, 2020
Disclosure of detailed information about financial instruments [abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	DERIVATIVE FINANCIAL INSTRUMENTS The company’s activities expose it to a variety of financial risks, including market risk (i.e. currency risk, interest rate risk and other price risk), credit risk and liquidity risk. The company selectively uses derivative financial instruments principally to manage these risks. The aggregate notional amount of the company’s derivative positions at December 31, 2020 and 2019 is as follows: AS AT DEC. 31 (MILLIONS) Note 2020 2019 Foreign exchange (a) $ 39,284 $ 37,334 Interest rates (b) 61,111 51,619 Credit default swaps (c) — 39 Equity derivatives (d) 2,081 2,517 Commodity instruments (e) 2020 2019 Energy (GWh) 27,564 25,136 Natural gas (MMBtu – 000’s) 121,468 78,364 a) Foreign Exchange The company held the following foreign exchange contracts with notional amounts at December 31, 2020 and 2019: Notional Amount (U.S. Dollars) Average Exchange Rate (MILLIONS) 2020 2019 2020 2019 Foreign exchange contracts Canadian dollars $ 7,539 $ 6,839 0.76 0.75 British pounds 3,986 7,874 1.31 1.27 European Union euros 4,561 2,069 1.17 1.16 Australian dollars 2,632 3,989 0.69 0.71 Indian rupee 1,288 240 77.56 73.55 Chilean peso 159 548 770.89 722.08 Korean won 1 700 687 1,175 1,173 Chinese yuan 1 1,633 1,862 7.05 5.42 Japanese yen 1 212 111 105.82 104.58 Colombian pesos 1 96 534 3,621 3,416 Brazilian reais 276 484 0.19 0.24 Swedish krona 1,647 1,578 8.58 9.10 Other currencies 903 584 Various Various Cross currency interest rate swaps Canadian dollars 6,868 4,493 0.77 0.77 European Union euros 1,914 103 1.06 1.09 Australian dollars 1,374 2,033 0.53 0.98 Japanese yen 1 750 18 113.33 110.00 British pounds 275 267 1.49 1.49 Colombian pesos 1 88 100 3,880.00 3,463 Foreign exchange futures Brazilian reais 105 38 0.19 0.25 Foreign exchange options British pounds — 1,338 — 1.43 Canadian dollars 2,030 — 0.74 — European Union euros 245 1,544 1.17 1.12 1. Average rate is quoted using USD as base currency. Included in net income are unrealized net losses on foreign currency derivative contracts amounting to $41 million (2019 – gain of $201 million) and included in the cumulative translation adjustment account in other comprehensive income are gains in respect of foreign currency contracts entered into for hedging purposes amounting to $28 million (2019 – losses of $409 million). b) Interest Rates At December 31, 2020, the company held interest rate swap and forward starting swap contracts having an aggregate notional amount of $30.2 billion (2019 – $25.0 billion), interest rate swaptions with an aggregate notional amount of $3.9 billion (2019 – $nil) and interest rate cap contracts with an aggregate notional amount of $27.0 billion (2019 – $26.6 billion). c) Credit Default Swaps As at December 31, 2020, the company held credit default swap contracts with an aggregate notional amount of $nil (2019 –$39 million). Credit default swaps are contracts which are designed to compensate the purchaser for any change in the value of an underlying reference asset, based on measurement in credit spreads, upon the occurrence of predetermined credit events. The company has no outstanding payments to make or receive in the event of a predetermined credit event in 2020 (2019 – $nil). d) Equity Derivatives At December 31, 2020, the company held equity derivatives with a notional amount of $2.1 billion (2019 – $2.5 billion) which includes $1.3 billion (2019 – $541 million) notional amount that hedges long-term compensation arrangements. The balance represents common equity and ETF positions established in connection with the company’s investment activities. The fair value of these instruments was reflected in the company’s consolidated financial statements at year end. e) Commodity Instruments The company has entered into energy derivative contracts primarily to hedge the sale of generated power. The company endeavors to link forward electricity sale derivatives to specific periods in which it expects to generate electricity for sale. All energy derivative contracts are recorded at an amount equal to fair value and are reflected in the company’s consolidated financial statements. The company has financial contracts outstanding on 121,468,000 MMBtu’s (2019 – 78,364,000 MMBtu’s) of natural gas as part of its electricity sale price risk mitigation strategy. Other Information Regarding Derivative Financial Instruments The following table classifies derivatives elected for hedge accounting during the years ended December 31, 2020 and 2019 as either cash flow hedges or net investment hedges. Changes in the fair value of the effective portion of the hedge are recorded in either other comprehensive income or net income, depending on the hedge classification, whereas changes in the fair value of the ineffective portion of the hedge are recorded in net income: 2020 2019 FOR THE YEARS ENDED DEC. 31 Notional Effective Portion Ineffective Portion Notional Effective Portion Ineffective Portion Cash flow hedges 1 $ 39,128 $ (479) $ 10 $ 32,709 $ (89) $ 20 Net investment hedges 17,788 182 10 22,790 (433) 16 $ 56,916 $ (297) $ 20 $ 55,499 $ (522) $ 36 1. Notional amount does not include 13,950 GWh, 82,663 MMBtu – 000’s and 1,302 bbls – millions of commodity derivatives at December 31, 2020 (2019 – 14,485 GWh, 12,164 MMBtu – 000’s and 2,273 bbls – millions). The following table presents the change in fair values of the company’s derivative positions during the years ended December 31, 2020 and 2019, for derivatives that are fair valued through profit or loss, and derivatives that qualify for hedge accounting: Unrealized Gains During 2020 Unrealized Losses During 2020 Net Change During 2020 Net Change During 2019 Foreign exchange derivatives $ 419 $ (460) $ (41) $ 201 Interest rate derivatives 110 (337) (227) (221) Credit default swaps — — — (1) Equity derivatives 1,161 (311) 850 13 Commodity derivatives 44 (86) (42) 27 $ 1,734 $ (1,194) $ 540 $ 19 The following table presents the notional amounts underlying the company’s derivative instruments by term to maturity as at December 31, 2020 and 2019, for derivatives that are classified as fair value through profit or loss, and derivatives that qualify for hedge accounting: 2020 2019 AS AT DEC. 31 (MILLIONS) <1 Year 1 to 5 Years >5 Years Total Notional Amount Total Notional Amount Fair value through profit or loss Foreign exchange derivatives $ 6,891 $ 5,158 $ 129 $ 12,178 $ 7,946 Interest rate derivatives 13,158 12,308 1,614 27,080 22,731 Credit default swaps — — — — 39 Equity derivatives 1,216 865 — 2,081 2,517 Commodity instruments Energy (GWh) 4,406 9,207 — 13,613 10,652 Natural gas (MMBtu – 000’s) 34,572 4,233 — 38,805 66,200 Elected for hedge accounting Foreign exchange derivatives $ 13,498 $ 12,086 $ 1,522 $ 27,106 $ 29,387 Interest rate derivatives 7,738 22,054 4,240 34,032 28,888 Equity derivatives — — — — — Commodity instruments Energy (GWh) 5,562 5,066 3,322 13,950 14,485 Natural gas (MMBtu – 000’s) 51,034 31,630 — 82,664 12,164

MANAGEMENT OF RISKS ARISING FRO

MANAGEMENT OF RISKS ARISING FROM HOLDING FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2020
Disclosure of detailed information about financial instruments [abstract]
MANAGEMENT OF RISKS ARISING FROM HOLDING FINANCIAL INSTRUMENTS	MANAGEMENT OF RISKS ARISING FROM HOLDING FINANCIAL INSTRUMENTS The company is exposed to the following risks as a result of holding financial instruments: market risk (i.e., interest rate risk, currency exchange risk and other price risk that impact the fair value of financial instruments), credit risk and liquidity risk. The following is a description of these risks and how they are managed: a) Market Risk Market risk is defined for these purposes as the risk that the fair value or future cash flows of a financial instrument held by the company will fluctuate because of changes in market prices. Market risk includes the risk of changes in interest rates, currency exchange rates and changes in market prices due to factors other than interest rates or currency exchange rates, such as changes in equity prices, commodity prices or credit spreads. The company manages market risk from foreign currency assets and liabilities and the impact of changes in currency exchange rates and interest rates by funding assets with financial liabilities in the same currency and with similar interest rate characteristics, and by holding financial contracts such as interest rate and foreign exchange derivatives to minimize residual exposures. Financial instruments held by the company that are subject to market risk include other financial assets, borrowings and derivative instruments such as interest rate, currency, equity and commodity contracts. i. Interest Rate Risk The observable impacts on the fair values and future cash flows of financial instruments that can be directly attributable to interest rate risk include changes in the net income from financial instruments whose cash flows are determined with reference to floating interest rates and changes in the value of financial instruments whose cash flows are fixed in nature. The company’s assets largely consist of long-duration interest-sensitive physical assets. Accordingly, the company’s financial liabilities consist primarily of long-term fixed-rate debt or floating-rate debt that has been swapped with interest rate derivatives. These financial liabilities are, with few exceptions, recorded at their amortized cost. The company also holds interest rate caps to limit its exposure to increases in interest rates on floating rate debt that has not been swapped, and holds interest rate contracts to lock in fixed rates on anticipated future debt issuances and as an economic hedge against the changes in value of long duration interest sensitive physical assets that have not been otherwise matched with fixed rate debt. The result of a 50 basis-point increase in interest rates on the company’s net floating rate financial assets and liabilities would have resulted in a corresponding decrease in net income before tax of $156 million (2019 – $246 million) on a current basis. Changes in the value of fair value through profit or loss interest rate contracts are recorded in net income and changes in the value of contracts that are elected for hedge accounting are recorded in other comprehensive income. The impact of a 50 basis-point parallel increase in the yield curve on the aforementioned financial instruments is estimated to result in a corresponding increase in net income before tax of $137 million (2019 – $146 million) and an increase in other comprehensive income of $363 million (2019 – $309 million), for the years ended December 31, 2020 and 2019. ii. Currency Exchange Rate Risk Changes in currency rates will impact the carrying value of financial instruments denominated in currencies other than the U.S. dollar. The company holds financial instruments with net unmatched exposures in several currencies, changes in the translated value of which are recorded in net income. The impact of a 1% increase in the U.S. dollar against these currencies would have resulted in a $117 million (2019 – $74 million) increase in the value of these positions on a combined basis. The impact on cash flows from financial instruments would be insignificant. The company holds financial instruments to limit its exposure to the impact of foreign currencies on its net investments in foreign operations whose functional and reporting currencies are other than the U.S. dollar. A 1% increase in the U.S. dollar would increase the value of these hedging instruments by $235 million (2019 – $259 million) as at December 31, 2020, which would be recorded in other comprehensive income and offset by changes in the U.S. dollar carrying value of the net investment being hedged. iii. Other Price Risk Other price risk is the risk of variability in fair value due to movements in equity prices or other market prices such as commodity prices and credit spreads. Financial instruments held by the company that are exposed to equity price risk include equity securities and equity derivatives. A 5% decrease in the market price of equity securities and equity derivatives held by the company, excluding equity derivatives that hedge compensation arrangements, would have decreased net income by $186 million (2019 – $14 million) and decreased other comprehensive income by $161 million (2019 – $70 million), prior to taxes. The company’s liability in respect of equity compensation arrangements is subject to variability based on changes in the company’s underlying common share price. The company holds equity derivatives to hedge almost all of the variability. A 5% change in the common equity price of the company in respect of compensation agreements would increase the compensation liability and compensation expense by $69 million (2019 – $75 million). This increase would be offset by a $78 million (2019 – $80 million) change in value of the associated equity derivatives of which $69 million (2019 – $75 million) would offset the above-mentioned increase in compensation expense and the remaining $9 million (2019 – $5 million) would be recorded in net income. The company sells power and generation capacity under long-term agreements and financial contracts to stabilize future revenues. Certain of the contracts are considered financial instruments and are recorded at fair value in the consolidated financial statements, with changes in value being recorded in either net income or other comprehensive income as applicable. A 5% increase in energy prices would have decreased net income for the year ended December 31, 2020 by approximately $16.2 million (2019 – $5 million) and decreased other comprehensive income by $19.4 million (2019 – $nil), prior to taxes. The corresponding increase in the value of the revenue or capacity being contracted, however, is not recorded in net income until subsequent periods. The company held credit default swap contracts with a total notional amount of $nil (2019 – $42 million) at December 31, 2020. The company is exposed to changes in the credit spread of the contracts’ underlying reference assets. A 50 basis-point increase in the credit spread of the underlying reference assets would have increased net income by $nil (2019 – $1 million) for the year ended December 31, 2020, prior to taxes. b) Credit Risk Credit risk is the risk of loss due to the failure of a borrower or counterparty to fulfill its contractual obligations. The company’s exposure to credit risk in respect of financial instruments relates primarily to counterparty obligations regarding derivative contracts, loans receivable and credit investments such as bonds and preferred shares. The company assesses the creditworthiness of each counterparty before entering into contracts with a view to ensuring that counterparties meet minimum credit quality requirements. Management evaluates and monitors counterparty credit risk for derivative financial instruments and endeavors to minimize counterparty credit risk through diversification, collateral arrangements, and other credit risk mitigation techniques. The credit risk of derivative financial instruments is generally limited to the positive fair value of the instruments, which, in general, tends to be a relatively small proportion of the notional value. Substantially all of the company’s derivative financial instruments involve either counterparties that are banks or other financial institutions in North America, the U.K. and Australia, or arrangements that have embedded credit risk mitigation features. The company does not expect to incur credit losses in respect of any of these counterparties. The maximum exposure in respect of loans receivable and credit investments is equal to the carrying value. c) Liquidity Risk Liquidity risk is the risk that the company cannot meet a demand for cash or fund an obligation as it comes due. Liquidity risk also includes the risk of not being able to liquidate assets in a timely manner at a reasonable price. To help ensure the company is able to react to contingencies and investment opportunities quickly, the company maintains sources of liquidity at the corporate and subsidiary levels. The primary source of liquidity consists of cash and other financial assets, net of deposits and other associated liabilities, and undrawn committed credit facilities. The company is subject to the risks associated with debt financing, including the ability to refinance indebtedness at maturity. The company believes these risks are mitigated through the use of long-term debt secured by high quality assets, maintaining debt levels that are in management’s opinion relatively conservative, and by diversifying maturities over an extended period of time. The company also seeks to include in its agreements terms that protect the company from liquidity issues of counterparties that might otherwise impact the company’s liquidity. The following tables present the contractual maturities of the company’s financial liabilities at December 31, 2020 and 2019. Payments Due by Period AS AT DEC. 31, 2020 (MILLIONS) <1 Year 1 to 3 Years 4 to 5 Years After 5 Years Total Principal repayments Corporate borrowings $ — $ 467 $ 1,630 $ 6,980 $ 9,077 Non-recourse borrowings of managed entities 21,108 29,399 40,049 48,768 139,324 Subsidiary equity obligations 799 1,147 800 953 3,699 Interest expense 1 Corporate borrowings 405 793 659 3,593 5,450 Non-recourse borrowings 5,145 8,788 6,310 8,313 28,556 Subsidiary equity obligations 147 213 171 44 575 Lease obligations 2 815 1,682 1,123 11,755 15,375 1. Represents the aggregated interest expense expected to be paid over the term of the obligations. Variable interest rate payments have been calculated based on current rates. 2. The lease obligations as disclosed in the table above include leases that are classified as finance leases, short-term leases, low-value leases and variable lease payments not based on an index or rate, which are immaterial. Payments Due by Period AS AT DEC. 31, 2019 (MILLIONS) <1 Year 1 to 3 Years 4 to 5 Years After 5 Years Total Principal repayments Corporate borrowings $ — $ 269 $ 1,597 $ 5,217 $ 7,083 Non-recourse borrowings of managed entities 15,563 28,396 34,602 57,731 136,292 Subsidiary equity obligations 188 1,677 745 1,522 4,132 Interest expense 1 Corporate borrowings 327 629 551 1,714 3,221 Non-recourse borrowings 5,210 8,524 6,641 7,749 28,124 Subsidiary equity obligations 151 261 212 107 731 Lease obligations 2 766 1,171 992 11,064 13,993 1. Represents the aggregated interest expense expected to be paid over the term of the obligations. Variable interest rate payments have been calculated based on current rates. 2. The lease obligations as disclosed in the table above include leases that are classified as finance leases, short-term leases, low-value leases and variable lease payments not based on an index or rate, which are immaterial.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
RELATED PARTY TRANSACTIONS	Dec. 31, 2020
Related party transactions [abstract]
Disclosure of related party [text block]	RELATED PARTY TRANSACTIONS a) Related Parties Related parties include subsidiaries, associates, joint ventures, key management personnel, the Board of Directors (“Directors”), immediate family members of key management personnel and Directors and entities which are directly or indirectly controlled by, jointly controlled by or significantly influenced by key management personnel, Directors or their close family members. b) Key Management Personnel and Directors Key management personnel are those individuals who have the authority and responsibility for planning, directing and controlling the company’s activities, directly or indirectly, and consist of the company’s Senior Executives. The company’s Directors do not plan, direct or control the activities of the company directly; they provide oversight over the business. The remuneration of key management personnel and Directors of the company during the years ended December 31, 2020 and 2019 was as follows: FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 Salaries, incentives and short-term benefits $ 14 $ 19 Share-based payments 81 46 $ 95 $ 65 The remuneration of key management personnel and Directors is determined by the Management Resources and Compensation Committee of the Board of Directors having regard to the performance of individuals and market funds. c) Related Party Transactions In the normal course of operations, the company executes transactions on market terms with related parties that have been measured at exchange value and are recognized in the consolidated financial statements, including, but not limited to: base management fees, performance fees and incentive distributions; loans, interest and non-interest bearing deposits; power purchase and sale agreements; capital commitments to private funds; the acquisition and disposition of assets and businesses; derivative contracts; and the construction and development of assets. Transactions and balances between consolidated entities are fully eliminated upon consolidation. The following table lists the related party balances included within the consolidated financial statements for the years ended December 31, 2020 and 2019: FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 Management fees received $ 31 $ 97

OTHER INFORMATION

OTHER INFORMATION	12 Months Ended
OTHER INFORMATION	Dec. 31, 2020
Additional information [abstract]
OTHER INFORMATION	OTHER INFORMATION a) Guarantees and Contingencies In the normal course of business, the company enters into contractual obligations which include commitments to provide bridge financing, letters of credit, guarantees and reinsurance obligations. As at December 31, 2020, the company had $4.1 billion (2019 – $4.1 billion) of such commitments outstanding. In addition, the company executes agreements that provide for indemnifications and guarantees to third parties in transactions or dealings such as business dispositions, business acquisitions, sales of assets, provision of services, securitization agreements and underwriting and agency agreements. The company has also agreed to indemnify its directors and certain of its officers and employees. The nature of substantially all of the indemnification undertakings prevents the company from making a reasonable estimate of the maximum potential amount the company could be required to pay third parties, as in most cases, the agreements do not specify a maximum amount, and the amounts are dependent upon the outcome of future contingent events, the nature and likelihood of which cannot be determined at this time. Neither the company nor its consolidated subsidiaries have made significant payments in the past nor do they expect at this time to make any significant payments under such indemnification agreements in the future. The company periodically enters into joint ventures, consortium or other arrangements that have contingent liquidity rights in favor of the company or its counterparties. These include buy sell arrangements, registration rights and other customary arrangements that generally have embedded protective terms that mitigate the risk to us. The amount, timing and likelihood of any payments by the company under these arrangements is, in most cases, dependent on either further contingent events or circumstances applicable to the counterparty and therefore cannot be determined at this time. The company is contingently liable with respect to litigation and claims that arise in the normal course of business. It is not reasonably possible that any of the ongoing litigation as at December 31, 2020 could result in a material settlement liability. The company has insurance for damage and business interruption costs sustained as a result of an act of terrorism. The amount of coverage is reviewed on an individual basis and can range up to $4 billion. However, a terrorist act could have a material effect on the company’s assets to the extent damages exceed coverage. The company, through its subsidiaries within the residential properties operations, is contingently liable for obligations of its associates in its land development joint ventures. In each case, all of the assets of the joint venture are available first for the purpose of satisfying these obligations, with the balance shared among the participants in accordance with predetermined joint venture arrangements. The Corporation has entered into arrangements with respect to the $1.8 billion of exchangeable preferred equity units issued by BPY discussed in Note 19, which are redeemable in equal tranches of $600 million in 2021, 2024 and 2026, respectively. The preferred equity units are exchangeable into equity units of BPY at $25.70 per unit, at the option of the holder, at any time up to and including the maturity date. BPY may redeem the preferred equity units after specified periods if the BPY equity unit price exceeds predetermined amounts. At maturity, the preferred equity units will be converted into BPY equity units at the lower of $25.70 or the then market price of a BPY equity unit. In order to provide the purchaser with enhanced liquidity, the Corporation has agreed to purchase the preferred equity units for cash at the option of the holder, for the initial purchase price plus accrued and unpaid dividends. In order to decrease dilution risk to BPY, the Corporation has agreed with the holder and BPY that if the price of a BPY equity unit is less than 80% of the exchange price of $25.70 at the redemption date of the 2021 and 2024 tranches, the Corporation will acquire the preferred equity units subject to redemption, at the redemption price, and to exchange these preferred equity units for preferred equity units with similar terms and conditions, including redemption date, as the 2026 tranche. b) Supplemental Cash Flow Information During the year, the company capitalized $310 million (2019 – $233 million) of interest primarily to investment properties and residential inventory under development.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Dec. 31, 2020
Disclosure of non-adjusting events after reporting period [abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTSOn January 4, 2021, the company announced that it had made a proposal to acquire 100% of the limited partnership units of BPY that it did not already own for a price of $16.50 per unit or $5.9 billion in total value. Subject to pro-ration, BPY unitholders would have the ability to elect to receive, per BPY unit, $16.50 in cash, 0.40 Brookfield Class A shares, or 0.66 of BPY preferred units with a liquidation preference of $25.00 per unit.In February 2021, the company completed a secondary public offering of 15,000,000 class A exchangeable subordinate voting shares of BEPC at $51.50 per share. Upon the close of the offering, the company generated $750 million of cash proceeds

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SIGNIFICANT ACCOUNTING POLICIES (Policies)	Dec. 31, 2020
Disclosure of Significant Accounting Policies [Abstract]
Statement of Compliance	Statement of Compliance These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). These consolidated financial statements were authorized for issuance by the Board of Directors of the company on March 23, 2021. b) Future Changes in Accounting Standards i. Insurance Contracts In May 2017, the IASB published IFRS 17, Insurance Contracts (“IFRS 17”), which establishes principles for the recognition, measurement, presentation and disclosure of insurance contracts. IFRS 17 will replace IFRS 4, Insurance Contracts , and will be applied retrospectively. In June 2020, the IASB proposed an amendment to IFRS 17 providing a one-year deferral on the effective date of the standard to January 1, 2023. IFRS 17 requires insurance contract liabilities to be measured at a current fulfillment value and provides a more uniform measurement and presentation approach for all insurance contracts. The company is currently assessing the impact of IFRS 17 on its operations. ii. Interest Rate Benchmark Reform On August 27, 2020, the IASB published Interest Rate Benchmark Reform – Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 (“Phase II Amendments”), effective January 1, 2021, with early adoption permitted. The Phase II Amendments provide additional guidance to address issues that will arise during the transition of benchmark interest rates. The Phase II Amendments primarily relate to the modification of financial assets, financial liabilities and lease liabilities where the basis for determining the contractual cash flows changes as a result of IBOR reform, allowing for prospective application of the applicable benchmark interest rate and to the application of hedge accounting, providing an exception such that changes in the formal designation and documentation of hedge accounting relationships that are needed to reflect the changes required by IBOR reform do not result in the discontinuation of hedge accounting or the designation of new hedging relationships. The company is progressing through its assessment and the transition plan to address the impact and effect changes as a result of amendments to the contractual terms of IBOR referenced floating-rate borrowings, interest rate swaps, interest rate caps, and updating hedge designations. The adoption is not expected to have a significant impact on our company’s financial reporting. c) Basis of Presentation The consolidated financial statements are prepared on a going concern basis. i. Subsidiaries The consolidated financial statements include the accounts of the company and its subsidiaries, which are the entities over which the company exercises control. Control exists when the company is able to exercise power over the investee, is exposed to variable returns from its involvement with the investee and has the ability to use its power over the investee to affect the amount of its returns. Subsidiaries are consolidated from the date control is obtained and continue to be consolidated until the date when control is lost. The company includes 100% of its subsidiaries’ revenues and expenses in the Consolidated Statements of Operations and 100% of its subsidiaries’ assets and liabilities on the Consolidated Balance Sheets, with non-controlling interests in the equity of the company’s subsidiaries included within the company’s equity. All intercompany balances, transactions, unrealized gains and losses are eliminated in full. The company continually reassesses whether or not it controls an investee, particularly if facts and circumstances indicate there is a change to one or more of the control criteria previously mentioned. In certain circumstances when the company has less than a majority of the voting rights of an investee, it has power over the investee when the voting rights are sufficient to give it the practical ability to direct the relevant activities of the investee unilaterally. The company considers all relevant facts and circumstances in assessing whether or not the company’s voting rights are sufficient to give it control of an investee. Certain of the company’s subsidiaries are subject to profit sharing arrangements, such as carried interest, between the company and the non-controlling equity holders, whereby the company is entitled to a participation in profits, as determined under the agreements. The attribution of net income amongst equity holders in these subsidiaries reflects the impact of these profit sharing arrangements when the attribution of profits as determined in the agreement is no longer subject to adjustment based on future events and correspondingly reduces non-controlling interests ’ attributable share of those profits. Gains or losses resulting from changes in the company’s ownership interest of a subsidiary that do not result in a loss of control are accounted for as equity transactions and are recorded within ownership changes as a component of equity. When we dispose of all or part of a subsidiary resulting in a loss of control, the difference between the carrying value of what is sold and the proceeds from disposition is recognized within other income and gains in the Consolidated Statements of Operations. Refer to Note 2(q) for an explanation of the company’s accounting policy for business combinations and to Note 4 for additional information on subsidiaries of the company with significant non-controlling interests. ii. Associates and Joint Ventures Associates are entities over which the company exercises significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the investee but without control or joint control over those policies. Joint ventures are joint arrangements whereby the parties that have joint control of the arrangement have the rights to the net assets of the joint arrangement. Joint control is the contractually agreed sharing of control over an arrangement, which exists only when decisions about the relevant activities require unanimous consent of the parties sharing control. The company accounts for associates and joint ventures using the equity method of accounting within equity accounted investments on the Consolidated Balance Sheets. Interests in associates and joint ventures accounted for using the equity method are initially recognized at cost. At the time of initial recognition, if the cost of the associate or joint venture is lower than the proportionate share of the investment’s underlying fair value, the company records a gain on the difference between the cost and the underlying fair value of the investment in net income. If the cost of the associate or joint venture is greater than the company’s proportionate share of the underlying fair value, goodwill relating to the associate or joint venture is included in the carrying amount of the investment. Subsequent to initial recognition, the carrying value of the company’s interest in an associate or joint venture is adjusted for the company’s share of comprehensive income and distributions of the investee. Profit and losses resulting from transactions with an associate or joint venture are recognized in the consolidated financial statements based on the interests of unrelated investors in the investee. The carrying value of associates or joint ventures is assessed for indicators of impairment at each balance sheet date. Impairment losses on equity accounted investments may be subsequently reversed in net income. Further information on the impairment of long-lived assets is available in Note 2(l). iii. Joint Operations A joint operation is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the assets, and obligations for the liabilities, related to the arrangement. Joint control is the contractually agreed sharing of control of an arrangement which exists only when decisions about the relevant activities require unanimous consent of parties sharing control. The company recognizes only its assets, liabilities and share of the results of operations of the joint operation. The assets, liabilities and results of joint operations are included within the respective line items of the Consolidated Balance Sheets, Consolidated Statements of Operations and Consolidated Statements of Comprehensive Income. d) Foreign Currency Translation The U.S. dollar is the functional and presentation currency of the company. Each of the company’s subsidiaries, associates, joint ventures and joint operations determines its own functional currency and items included in the consolidated financial statements of each subsidiary, associate, joint venture and joint operation are measured using that functional currency. Assets and liabilities of foreign operations having a functional currency other than the U.S. dollar are translated at the rate of exchange prevailing at the reporting date and revenues and expenses at average rates during the period. Gains or losses on translation are accumulated as a component of equity. On the disposal of a foreign operation, or the loss of control, joint control or significant influence, the component of accumulated other comprehensive income relating to that foreign operation is reclassified to net income. Gains or losses on foreign currency denominated balances and transactions that are designated as hedges of net investments in these operations are reported in the same manner. Foreign currency denominated monetary assets and liabilities of the company are translated using the rate of exchange prevailing at the reporting date and non-monetary assets and liabilities measured at fair value are translated at the rate of exchange prevailing at the date when the fair value was determined. Revenues and expenses are measured at average rates during the period. Gains or losses on translation of these items are included in net income. Gains or losses on transactions which hedge these items are also included in net income. Foreign currency denominated non-monetary assets and liabilities, measured at historic cost, are translated at the rate of exchange at the transaction date. e) Cash and Cash Equivalents Cash and cash equivalents include cash on hand, demand deposits and highly liquid short-term investments with original maturities of three months or less. f) Related Party Transactions In the normal course of operations, the company enters into various transactions on market terms with related parties. The majority of transactions with related parties are between consolidated entities and eliminate on consolidation. The company and its subsidiaries may also transact with entities over which the company has significant influence or joint control. Amounts owed to and by associates and joint ventures are not eliminated on consolidation. The company’s subsidiaries with significant non-controlling interests are described in Note 4 and its associates and joint ventures are described in Note 10. In addition to our subsidiaries and equity accounted investments, we consider key management personnel, the Board of Directors and material shareholders to be related parties. See additional details in Note 27. g) Operating Assets i. Investment Properties The company uses the fair value method to account for real estate classified as investment properties. A property is determined to be an investment property when it is principally held either to earn rental income or for capital appreciation, or both. Investment properties also include properties that are under development or redevelopment for future use as investment property. Investment properties are initially measured at cost including transaction costs , or at fair value if acquired in a business combination . Subsequent to initial recognition, investment properties are carried at fair value. Gains or losses arising from changes in fair value are included in net income during the period in which they arise. Fair values are completed by undertaking one of two accepted approaches: (i) discounting the expected future cash flows, generally over a term of 10 years including a terminal value based on the application of a capitalization rate to estimated year 11 net operating income, typically used for our office, retail and logistics assets; or (ii) undertaking a direct capitalization approach for certain of our LP investments and directly held multifamily assets whereby a capitalization rate is applied to estimated stabilized annual net operating income. The future cash flows of each property are based upon, among other things, rental income from current leases and assumptions about rental income from future leases reflecting current conditions, less future cash outflows relating to such current and future leases. Commercial developments are also measured using a discounted cash flow model, net of costs to complete, as of the balance sheet date. Development sites in the planning phases are carried at cost. ii. Property, Plant and Equipment The company uses the revaluation method of accounting for certain classes of property, plant and equipment as well as certain assets which are under development for future use as PP&E. PP&E measured using the revaluation method is initially measured at cost , or at fair value if acquired in a business combination, and subsequently carried at its revalued amount, being the fair value at the date of the revaluation less any subsequent accumulated depreciation and any accumulated impairment losses. Revaluations are performed on an annual basis at the end of each fiscal year, commencing in the first year subsequent to the date of acquisition, unless there is an indication that assets are impaired. Where the carrying amount of an asset increases as a result of a revaluation, the increase is recognized in other comprehensive income and accumulated in equity in revaluation surplus, unless the increase reverses a previously recognized revaluation loss recorded through net income, in which case that portion of the increase is recognized in net income. Where the carrying amount of an asset decreases, the decrease is recognized in other comprehensive income to the extent of any balance existing in revaluation surplus in respect of the asset, with the remainder of the decrease recognized in net income. Depreciation of an asset commences when it is available for use. On loss of control or partial disposition of an asset measured using the revaluation method, all accumulated revaluation surplus or the portion disposed of, respectively, is transferred into retained earnings or ownership changes, respectively. PP&E held in our Private Equity segment, which include leasehold improvements, are measured at cost less accumulated depreciation and accumulated impairment losses, if any. Land is carried at cost whereas finite-life assets such as buildings and equipment are carried at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on a systematic basis over the assets’ useful life. Depreciation methods and useful lives are reassessed at least annually regardless of the measurement method used. Renewable Power Renewable power generally determines the fair value of its PP&E by using a 20-year discounted cash flow model for the majority of its assets. This model incorporates future cash flows from long-term power purchase agreements that are in place where it is determined that the power purchase agreements are linked specifically to the related power generating assets. The model also includes estimates of future electricity prices, anticipated long-term average generation, estimated operating and capital expenditures, and assumptions about future inflation rates and discount rates by geographical location. Depreciation on renewable power generating assets is calculated on a straight-line basis over the estimated service lives of the assets, which are as follows: (YEARS) Useful Lives Dams Up to 115 Penstocks Up to 60 Powerhouses Up to 115 Hydroelectric generating units Up to 115 Wind generating units Up to 30 Solar generating units Up to 35 Gas-fired cogenerating (“Cogeneration”) units Up to 40 Other assets Up to 60 Cost is allocated to the significant components of power generating assets and each component is depreciated separately. The depreciation of PP&E in our Brazilian renewable power operations is based on the duration of the authorization or the useful life of a concession. The weighted-average remaining duration at December 31, 2020 is 32 years (2019 – 32 years). Land rights are included as part of the concession or authorization and are subject to depreciation. Infrastructure Utilities, tran sport, midstream and data assets within our infrastructure operations as well as assets under development classified as PP&E on the Consolidated Balance Sheets are accounted for using the revaluation method. The company determines the fair value of its utilities, transport, midstream and data assets using discounted cash flow analyses, which include estimates of forecasted revenue, operating costs, maintenance and other capital expenditures. Valuations are performed internally on an annual basis. Discount rates are selected for each asset, giving consideration to the volatility and geography of its revenue streams. Depreciation on utilities, transport, midstream and data assets i s calculated on a straight-line or declining balance basis over the estimated service lives of the components of the assets, which are as follows: (YEARS) Useful Lives Buildings Up to 75 Transmission stations, towers and related fixtures Up to 40 Leasehold improvements Up to 50 Plant and equipment Up to 40 Network systems Up to 65 Track Up to 40 District energy systems Up to 50 Pipelines Up to 20 Gas storage assets Up to 50 The fair value and the estimated remaining service lives are reassessed annually. Public service concessions that provide the right to charge users for a service in which the service and fee is regulated by the grantor are accounted for as intangible assets. In our sustainable resources operations, land used in the production of standing timber, as well as bridges and roads used in sustainable resources production, are accounted for using the revaluation method and included in PP&E. Bridges, roads and equipment are depreciated over their useful lives, generally 3 to 30 years. Real Estate – Hospitality Assets Hospitality operating assets within our real estate operations are classified as PP&E and are accounted for using the revaluation method. The company determines the fair value for these assets by using a depreciated replacement cost method based on the age, physical condition and the construction costs of the assets. Fair value of hospitality properties are also reviewed in reference to each hospitality asset’s enterprise value which is determined using a discounted cash flow model. Depreciation on hospitality assets is calculated on a straight-line basis over the estimated useful lives of each component of the asset as follows: (YEARS) Useful Lives Building and building improvements 5 to 50 + Land improvements 15 Furniture, fixtures and equipment 2 to 15 Private Equity The company accounts for its private equity PP&E using the cost model. Costs include expenditures that are directly attributable to the acquisition of the asset. Depreciation of an asset commences when it is available for use. PP&E is depreciated for each component of the following asset classes as follows: On a straight-line basis (YEARS) Useful Lives Buildings Up to 50 Leasehold improvements Up to 40 Machinery and equipment Up to 20 Vessels Up to 35 Not on a straight-line basis Useful Lives Oil and gas related equipment Units of production iii. Inventory Private Equity Fuel inventories within our Private Equity segment are traded in active markets and are purchased with the view to resell in the near future, generating a profit from fluctuations in prices or margins. As a result, fuel inventories are carried at market value by reference to prices in a quoted active market, in accordance with the commodity broker-trader exemption granted by IAS 2, Inventories . Changes in fair value less costs to sell are recognized in the Consolidated Statements of Operations through direct costs. Fuel products that are held for extended periods in order to benefit from future anticipated increases in fuel prices or located in territories where no active market exists are recognized at the lower of cost and net realizable value. Products and chemicals used in the production of biofuels are valued at the lower of cost and net realizable value. Real Estate Develop-for-sale multifamily projects, residential development lots, homes and residential condominium projects are recorded in inventory. Residential development lots are recorded at the lower of cost, which includes pre-development expenditures and capitalized borrowing costs and net realizable value, which the company determines as the estimated selling price of the inventory in the ordinary course of business in its completed state, less estimated expenses, including holding costs, costs to complete and costs to sell. Homes and other properties held for sale, which include properties subject to sale agreements, are recorded at the lower of cost and net realizable value in inventory. Costs are allocated to the salable acreage of each project or subdivision in proportion to the anticipated revenue. Residential Development Inventories consist of land held for development, land under development, homes under construction, completed homes and model homes. In addition to direct land acquisitions, land development and improvement costs and home construction costs, costs also include interest, real estate taxes and direct overhead related to development and construction, which are capitalized to inventory during the period beginning with the commencement of development and ending with the completion of construction or development. Indirect costs are allocated to homes or lots based on the number of units in a community. Land and housing assets are recorded at the lower of cost and net realizable value, which the company determines as the estimated selling price of the inventory in the ordinary course of business in its completed state, less estimated expenses, including holding costs, costs to complete and costs to sell. h) Fair Value Measurement Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, regardless of whether that price is directly observable or estimated using another valuation technique. In estimating the fair value of an asset or a liability, the company takes into account the characteristics of the asset or liability if market participants would take those characteristics into account when pricing the asset or liability at the measurement date. Fair value measurement is disaggregated into three hierarchical levels: Level 1, 2 or 3. Fair value hierarchical levels are directly based on the degree to which the inputs to the fair value measurement are observable. The levels are as follows: Level 1 – Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date. Level 2 – Inputs (other than quoted prices included in Level 1) are either directly or indirectly observable for the asset or liability through correlation with market data at the measurement date and for the duration of the asset or liability’s anticipated life. Level 3 – Inputs are unobservable and reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs in determining the estimate. Refer to the investment properties and revaluation of PP&E explanations for the approach taken to determine the fair value of these operating assets. Further information on fair value measurements is available in Notes 6, 7, 11 and 12. i) Accounts Receivable Trade receivables are recognized initially at fair value and subsequently measured at amortized cost using the effective interest method, less an allowance for expected credit losses for uncollectability. j) Intangible Assets Finite life intangible assets are carried at cost less any accumulated amortization and any accumulated impairment losses and are amortized on a straight-line basis over their estimated useful lives. Amortization is recorded within depreciation and amortization in the Consolidated Statements of Operations. Certain of the company’s intangible assets have an indefinite life as there is no foreseeable limit to the period over which the asset is expected to generate cash flows. Indefinite life intangible assets are recorded at cost unless an impairment is identified which requires a write-down to its recoverable amount. Indefinite life intangible assets are evaluated for impairment annually or more often if events or circumstances indicate there may be an impairment. Any impairment of the company’s indefinite life intangible assets is recorded in net income in the period in which the impairment is identified. Impairment losses on intangible assets may be subsequently reversed in net income. Infrastructure Intangible assets within our Infrastructure segment primarily consist of conservancy rights, service concession arrangements, customer order backlogs, track access rights, operating network agreements and customer contracts and relationships. Concession arrangements, accounted for as intangible assets under IFRIC 12, Service Concession Arrangements (“IFRIC 12”), were mostly acquired through acquisitions of gas transmission, electricity transmission and toll road businesses and are amortized on a straight-line basis over the term of the arrangement. The intangible assets at the Brazilian regulated gas transmission operation and Brazilian electricity transmission operation relate to concession contracts, and are amortized on a straight-line basis over the life of the contractual agreement. The intangible assets at the Chilean, Indian and Peruvian toll roads relate to the right to operate a road and charge users a specified tariff for a contractual length of time and is amortized over the life of the contractual arrangement with an average of 13, 16 and 22 years remaining, respectively. Refer to Note 13 of the consolidated financial statements for additional information on these concession arrangements. The intangible assets at our residential infrastructure operation are comprised of contractual customer relationships, customer contracts, proprietary technology and brands. The contractual customer relationships and customer contracts represent ongoing economic benefits from leasing customers and annuity-based management agreements. Proprietary technology is recognized for the development of new metering technology, which allows the business to generate revenue through its sub-metering business. Brands represent the intrinsic value customers place on the operation’s various brand names. Private Equity Our private equity operations include intangible assets across a number of operating companies. The majority are finite life intangible assets that are amortized on a straight-line basis over the following useful lives: (YEARS) Useful Lives Water and sewage concession agreements Up to 40 Brand names Up to 20 Computer software Up to 10 Customer relationships Up to 30 Value of insurance contracts acquired Up to 15 Patents and trademarks Up to 40 Proprietary technology Up to 20 Product development costs Up to 5 Distribution networks Up to 25 Loyalty program Up to 15 Real Estate Intangible assets in our Real Estate segment are primarily trademarks associated with hospitality assets. These trademarks have indefinite lives. k) Goodwill Goodwill represents the excess of the price paid for the acquisition of an entity over the fair value of the net identifiable tangible and intangible assets and liabilities acquired. Goodwill is allocated to the cash-generating unit to which it relates. The company identifies cash-generating units as identifiable groups of assets that are largely independent of the cash inflows from other assets or groups of assets. Goodwill is evaluated for impairment annually or more often if events or circumstances indicate there may be an impairment. Impairment is determined for goodwill by assessing if the carrying value of a cash-generating unit, including the allocated goodwill, exceeds its recoverable amount determined as the greater of the estimated fair value less costs to sell and the value in use. Impairment losses recognized in respect of a cash-generating unit are first allocated to the carrying value of goodwill and any excess is allocated to the carrying amount of assets in the cash-generating unit. Any goodwill impairment is recorded in income in the period in which the impairment is identified. Impairment losses on goodwill are not subsequently reversed. On disposal of a subsidiary, any attributable amount of goodwill is included in determination of the gain or loss on disposal. l) Impairment of Long-Lived Assets At each balance sheet date or more often if events or circumstances indicate there may be impairment, the company assesses whether its assets, other than those measured at fair value with changes in value recorded in net income, have any indication of impairment. An impairment is recognized if the recoverable amount, determined as the higher of the estimated fair value less costs of disposal and the discounted future cash flows generated from use and eventual disposal from an asset or cash-generating unit, is less than their carrying value. Impairment losses are recorded as fair value changes within the Consolidated Statements of Operations. The projections of future cash flows take into account the relevant operating plans and management’s best estimate of the most probable set of conditions anticipated to prevail. Where an impairment loss subsequently reverses, the carrying amount of the asset or cash-generating unit is increased to the lesser of the revised estimate of its recoverable amount and the carrying amount that would have been recorded had no impairment loss been recognized previously. m) Subsidiary Equity Obligations Subsidiary equity obligations include subsidiary preferred equity units, subsidiary preferred shares and capital securities as well as limited-life funds and redeemable fund units. Subsidiary preferred equity units and capital securities are preferred shares that may be settled by a variable number of common equity units upon their conversion by the holders or the company. These instruments, as well as the related accrued distributions, are classified as liabilities at amortized cost on the Consolidated Balance Sheets. Dividends or yield distributions on these instruments are recorded as interest expense. To the extent conversion features are not closely related to the underlying liability the instruments are bifurcated into debt and equity components. Limited-life funds represent the interests of others in the company’s consolidated funds that have a defined maximum fixed life where the company has an obligation to distribute the residual interests of the fund to fund partners based on their proportionate share of the fund’s equity in the form of cash or other financial assets at cessation of the fund’s life. Redeemable fund units represent interests of others in consolidated subsidiaries that have a redemption feature that requires the company to deliver cash or other financial assets to the holders of the units upon receiving a redemption notice. Limited-life funds and redeemable fund units are classified as liabilities and recorded at fair value within subsidiary equity obligations on the Consolidated Balance Sheets. Changes in the fair value are recorded in net income in the period of the change. n) Revenue from Contracts with Customers IFRS 15, Revenue from Contracts with Customers (“IFRS 15”), specifies how and when revenue should be recognized and requires disclosures about the nature, amount, timing and uncertainty of revenues and cash flows arising from customer contracts. Where available, the company has elected the practical expedient available under IFRS 15 for measuring progress toward complete satisfaction of performance obligation and for disclosure requirements of remaining performance obligations. This permi

CORPORATE INFORMATION (Tables)

CORPORATE INFORMATION (Tables)	12 Months Ended
CORPORATE INFORMATION (Tables)	Dec. 31, 2020	Dec. 31, 2019
Management Commentary Explanatory [Abstract]
Summary of the Corporation's Capital [Table]	As at December 31, 2020, the Corporation’s Capital totaled $45.1 billion (2019 – $42.1 billion), and is computed as follows: AS AT DEC. 31 2020 2019 Cash and cash equivalents $ 1,283 $ 807 Other financial assets 3,809 2,722 Common equity in managed investments 33,732 33,839 Other assets and liabilities of the Corporation 6,321 4,728 Corporation’s Capital $ 45,145 $ 42,096 Corporation’s Capital is comprised of the following: Common equity $ 31,693 $ 30,868 Preferred shares 4,145 4,145 Non-controlling interest 230 — Corporate borrowings 9,077 7,083 $ 45,145 $ 42,096
Reconciliation of the Corporation's Capital [Table]	A reconciliation of the Corporation’s Capital to the company’s consolidated balance sheet as at December 31, 2020 is as follows: AS AT DEC. 31, 2020 The Corporation Managed Investments Elimination Total Consolidated Cash and cash equivalents $ 1,283 $ 8,650 $ — $ 9,933 Other financial assets 3,809 13,921 — 17,730 Accounts receivable and other 1 3,632 17,401 (2,105) 18,928 Inventory 2 10,358 — 10,360 Assets classified as held for sale — 5,917 — 5,917 Equity accounted investments 5,361 35,966 — 41,327 Investment properties 17 96,765 — 96,782 Property, plant and equipment 122 99,887 — 100,009 Intangible assets 285 24,373 — 24,658 Goodwill 368 14,346 — 14,714 Deferred income tax assets 2,159 1,179 — 3,338 Accounts payable and other 1 (5,134) (47,653) 2,105 (50,682) Liabilities associated with assets classified as held for sale — (2,359) — (2,359) Deferred income tax liabilities (414) (15,499) — (15,913) Subsidiary equity obligations (77) (3,622) — (3,699) Total 11,413 259,630 — 271,043 Common equity in managed investments 2 33,732 — (33,732) — Corporation’s Capital 45,145 259,630 (33,732) 271,043 Less: Corporate borrowings 9,077 — — 9,077 Non-recourse borrowings of managed entities — 139,324 — 139,324 Amounts attributable to preferred equity 4,145 — — 4,145 Amounts attributable to non-controlling interests 230 86,574 — 86,804 Common equity $ 31,693 $ 33,732 $ (33,732) $ 31,693 1. Contains the gross up of intercompany balances, including accounts receivable and other, and accounts payable and other of $2.1 billion and $2.1 billion respectively, between entities within the Corporation and its managed investments.	A reconciliation of the Corporation’s Capital to the company’s consolidated balance sheet as at December 31, 2019 is as follows: AS AT DEC. 31, 2019 The Corporation Managed Investments Elimination Total Consolidated Cash and cash equivalents $ 807 $ 5,971 $ — $ 6,778 Other financial assets 2,722 9,746 — 12,468 Accounts receivable and other 1 1,629 17,002 (162) 18,469 Inventory — 10,272 — 10,272 Assets classified as held for sale — 3,502 — 3,502 Equity accounted investments 5,281 35,417 — 40,698 Investment properties — 96,686 — 96,686 Property, plant and equipment 79 89,185 — 89,264 Intangible assets 124 27,586 — 27,710 Goodwill 328 14,222 — 14,550 Deferred income tax assets 2,477 1,095 — 3,572 Accounts payable and other 1 (4,870) (38,369) 162 (43,077) Liabilities associated with assets classified as held for sale — (1,690) — (1,690) Deferred income tax liabilities (279) (14,570) — (14,849) Subsidiary equity obligations (41) (4,091) — (4,132) Total 8,257 251,964 — 260,221 Common equity in managed investments 2 33,839 — (33,839) — Corporation’s Capital 42,096 251,964 (33,839) 260,221 Less: Corporate borrowings 7,083 — — 7,083 Non-recourse borrowings of managed entities — 136,292 — 136,292 Amounts attributable to preferred equity 4,145 — — 4,145 Amounts attributable to non-controlling interests — 81,833 — 81,833 Common equity $ 30,868 $ 33,839 $ (33,839) $ 30,868 1. Contains the gross up of intercompany balances, including accounts receivable and other, and accounts payable and other of $162 million and $162 million respectively, between entities within the Corporation and its managed investments.

SEGMENTED INFORMATION (Tables)

SEGMENTED INFORMATION (Tables)	12 Months Ended
SEGMENTED INFORMATION (Tables)	Dec. 31, 2020
Disclosure of operating segments [abstract]
Summary of financial information by segment	Reportable Segment Measures AS AT AND FOR THE YEAR ENDED DEC. 31, 2020 (MILLIONS) Asset Corporate Real Estate Renewable Infrastructure Private Residential Total Note External revenues $ 246 $ 872 $ 8,851 $ 4,085 $ 9,294 $ 37,161 $ 2,243 $ 62,752 Inter-segment and other revenues 1 3,278 (1) 32 — 7 614 — 3,930 i Segmented revenues 3,524 871 8,883 4,085 9,301 37,775 2,243 66,682 FFO from equity accounted investments 1 277 (17) 765 116 1,329 600 21 3,091 ii Interest expense — (388) (3,117) (885) (1,224) (1,573) (29) (7,216) iii Current income taxes — (67) (82) (66) (247) (286) (8) (756) iv Funds from operations 1 1,776 (86) 876 1,044 569 935 66 5,180 v Common equity 4,947 (6,986) 19,331 5,154 2,552 3,965 2,730 31,693 Equity accounted investments 4,530 830 21,024 1,444 10,530 2,623 346 41,327 Additions to non-current assets 2 64 234 10,117 1,677 11,200 3,535 45 26,872 1. We equity account for our investment in Oaktree and include our share of the FFO and FFO from equity accounted investments at approximately 62%. However, for segment reporting, Oaktree’s revenue is shown on a 100% basis. For the year ended December 31, 2020, $1.2 billion of Oaktree’s revenues was included in our Asset Management segment revenue. 2. Includes additions to equity accounted investments, investment properties, property, plant and equipment, sustainable resources, intangible assets and goodwill. AS AT AND FOR THE YEAR ENDED DEC. 31, 2019 (MILLIONS) Asset Corporate Real Estate Renewable Infrastructure Private Residential Total Note External revenues $ 271 $ 508 $ 10,442 $ 3,959 $ 7,091 $ 43,099 $ 2,456 $ 67,826 Inter-segment revenues 2,343 (49) 33 15 2 479 — 2,823 i Segmented revenues 1 2,614 459 10,475 3,974 7,093 43,578 2,456 70,649 FFO from equity accounted investments 43 14 1,049 74 1,100 320 41 2,641 ii Interest expense — (349) (3,469) (923) (937) (1,536) (66) (7,280) iii Current income taxes — (114) (165) (73) (255) (326) (37) (970) iv Funds from operations 1 1,597 (359) 1,185 333 464 844 125 4,189 v Common equity 4,927 (7,897) 18,781 5,320 2,792 4,086 2,859 30,868 Equity accounted investments 4,599 681 22,314 1,154 8,972 2,596 382 40,698 Additions to non-current assets 2 4,654 617 17,915 2,207 17,352 19,825 88 62,658 1. We equity account for our investment in Oaktree and include our share of the FFO and FFO from equity accounted investments at approximately 61%. However, for segment reporting, Oaktree’s revenue is shown on a 100% basis. For the year ended December 31, 2019, $231 million of Oaktree’s revenues was included in our Asset Management segment revenue. 2. Includes additions to equity accounted investments, investment properties, property, plant and equipment, sustainable resources, intangible assets and goodwill.
Summary of reconciliation of FFO from equity accounted investments	The following table reconciles the company’s consolidated equity accounted income to FFO from equity accounted investments: FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 Consolidated equity accounted (loss) income $ (79) $ 2,498 Non-FFO items from equity accounted investments 1 3,170 143 FFO from equity accounted investments $ 3,091 $ 2,641 1. Adjustment to back out non-FFO expenses (income) that are included in consolidated equity accounted income including depreciation and amortization, deferred taxes and fair value changes from equity accounted investments.
Schedule of components of income tax expense	The following table reconciles consolidated income taxes to current and deferred income taxes: FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 Current income tax expense $ (756) $ (970) Deferred income tax (expense) recovery (81) 475 Income tax expense $ (837) $ (495) iv. The major components of income tax expense/(recovery) for the years ended December 31, 2020 and 2019 are set out below: FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 Current income tax expense $ 756 $ 970 Deferred income tax expense / (recovery) Origination and reversal of temporary differences (103) 281 Expense / (recovery) arising from previously unrecognized tax assets 2 (647) Change of tax rates and new legislation 182 (109) Total deferred income tax expense / (recovery) 81 (475) Income tax expense $ 837 $ 495
Summary of reconciliation of FFO to net income	The following table reconciles net income to total FFO: FOR THE YEARS ENDED DEC. 31 (MILLIONS) Note 2020 2019 Net income $ 707 $ 5,354 Financial statement components not included in FFO Equity accounted fair value changes and other non-FFO items 3,170 143 Fair value changes 1,423 831 Depreciation and amortization 5,791 4,876 Deferred income taxes 81 (475) Realized disposition gains in fair value changes or equity vi 1,554 621 Non-controlling interests in FFO (7,546) (7,161) Total FFO $ 5,180 $ 4,189
Summary of financial information by geographic regions	The company’s revenues by location of operations are as follows: FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 U.S. $ 18,048 $ 16,584 Canada 5,906 6,202 U.K. 16,032 21,847 Brazil 3,323 4,099 Europe 6,191 6,285 Australia 5,528 5,522 India 1,284 803 Colombia 1,762 2,095 Other Asia 2,388 1,599 Other 2,290 2,790 $ 62,752 $ 67,826 The company’s consolidated assets by location are as follows: AS AT DEC. 31 (MILLIONS) 2020 2019 U.S. $ 159,684 $ 149,687 Canada 36,403 35,840 U.K. 31,598 30,184 Brazil 20,675 24,354 Europe 22,267 19,404 Australia 22,000 22,971 India 21,438 9,089 Colombia 10,919 10,819 Other Asia 9,343 8,379 Other 9,369 13,242 $ 343,696 $ 323,969

SUBSIDIARIES (Tables)

SUBSIDIARIES (Tables)	12 Months Ended
SUBSIDIARIES (Tables)	Dec. 31, 2020
Disclosure of subsidiaries [abstract]
Disclosure of non-controlling interests [text block]	The table below presents the exchanges on which the company’s subsidiaries with significant non-controlling interests were publicly listed as of December 31, 2020: TSX NYSE Nasdaq BPY BPY.UN N/A BPY BEP BEP.UN BEP N/A BIP BIP.UN BIP N/A BBU BBU.UN BBU N/A The following table outlines the composition of accumulated non-controlling interests presented within the company’s consolidated financial statements: AS AT DEC. 31 (MILLIONS) 2020 2019 BPY $ 25,986 $ 29,165 BEP 17,194 13,321 BIP 19,753 20,036 BBU 9,162 8,664 Individually immaterial subsidiaries with non-controlling interests 14,709 10,647 $ 86,804 $ 81,833
Schedule of interests in subsidiaries	The following table presents the details of the company’s subsidiaries with significant non-controlling interests: Jurisdiction of Formation Ownership Interest Held by Non-Controlling Interests 1, 2 AS AT DEC. 31 2020 2019 Brookfield Property Partners L.P. (“BPY”) Bermuda 38.3 % 44.8 % Brookfield Renewable Partners L.P. (“BEP”) 3 Bermuda 49.3 % 39.5 % Brookfield Infrastructure Partners L.P. (“BIP”) 4 Bermuda 71.5 % 70.4 % Brookfield Business Partners L.P. (“BBU”) Bermuda 36.5 % 37.3 % 1. Control and associated voting rights of the limited partnerships (BPY, BEP, BIP and BBU) reside with their respective general partners which are wholly owned subsidiaries of the company. The company’s general partner interest is entitled to earn base management fees and incentive payments in the form of incentive distribution rights or performance fees. 2. The company’s ownership interest in BPY, BEP, BIP and BBU includes a combination of redemption-exchange units (REUs), Class A limited partnership units, special limited partnership units, general partnership units and units or shares that are exchangeable for units in our listed partnerships, in each subsidiary, where applicable. Each of BPY, BEP, BIP and BBU’s partnership capital includes its Class A limited partnership units whereas REUs and general partnership units are considered non-controlling interests for the respective partnerships. REUs share the same economic attributes in all respects except for the redemption right attached thereto. The REUs and general partnership units participate in earnings and distributions on a per unit basis equivalent to the per unit participation of the Class A limited partnership units of the subsidiary. 3. Ownership interest held by Non-Controlling Interests represents the combined units not held in BEP LP and Brookfield Renewable Corporation (“BEPC”). 4. Ownership interest held by Non-Controlling Interests represents the combined units not held in BIP LP and Brookfield Infrastructure Corporation (“BIPC”). The following tables contain summarized financial information of the Corporation, BFI, BFI II, BFL, BFL II, BF AUS, BF U.K., BIC and non-guarantor subsidiaries: AS AT AND FOR THE YEAR ENDED DEC. 31, 2020 (MILLIONS) The Corporation 1 BFI BFI II BFL BFL II BF AUS BF U.K. BIC Other Subsidiaries of the Company 2 Consolidating Adjustments 3 The Company Consolidated Revenues $ 626 $ 280 $ — $ 28 $ — $ — $ 2 $ 163 $ 70,385 $ (8,732) $ 62,752 Net income attributable to shareholders (134) 73 — — — — 1 91 6,368 (6,533) (134) Total assets 73,898 7,207 — 600 — — 233 4,280 350,687 (93,209) 343,696 Total liabilities 38,060 5,547 — 596 — — 3 2,690 206,877 (32,719) 221,054 Non-controlling interests – preferred equity — — — — — — 230 — — — 230 AS AT AND FOR THE YEAR ENDED DEC. 31, 2019 (MILLIONS) The Corporation 1 BFI BFI II BFL BFL II BF AUS BF U.K. BIC Other subsidiaries of the Company 2 Consolidating Adjustments 3 The Company Consolidated Revenues $ 104 $ 148 $ — $ — $ — $ — $ — $ 105 $ 73,310 $ (5,841) $ 67,826 Net income attributable to shareholders 2,807 40 — — — — — 85 3,493 (3,618) 2,807 Total assets 70,976 5,389 — — — — — 3,520 331,698 (87,614) 323,969 Total liabilities 35,963 3,994 — — — — — 2,239 195,586 (30,659) 207,123 Non-controlling interests – preferred equity — — — — — — — — — — — 1. This column accounts for investments in all subsidiaries of the Corporation under the equity method. 2. This column accounts for investments in all subsidiaries of the Corporation other than BFI, BFI II, BFL, BFL II, BF AUS, BF U.K. and BIC on a combined basis. 3. This column includes the necessary amounts to present the company on a consolidated basis.
Summarized financial information of subsidiaries [Table Text Block]	Summarized financial information with respect to the company’s subsidiaries with significant non-controlling interests is set out below. The summarized financial information represents amounts before intra-group eliminations: BPY BEP BIP BBU AS AT AND FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 2020 2019 2020 2019 2020 2019 Current assets $ 5,009 $ 3,289 $ 1,742 $ 1,474 $ 3,711 $ 5,841 $ 14,493 $ 12,795 Non-current assets 102,942 108,354 47,980 34,217 57,620 50,467 40,253 38,956 Current liabilities (18,220) (12,466) (2,876) (1,678) (5,524) (5,439) (12,133) (11,024) Non-current liabilities (48,208) (54,242) (25,079) (15,882) (34,134) (28,692) (31,276) (29,674) Non-controlling interests (25,986) (29,165) (17,194) (13,321) (19,753) (20,036) (9,162) (8,664) Equity attributable to Brookfield $ 15,537 $ 15,770 $ 4,573 $ 4,810 $ 1,920 $ 2,141 $ 2,175 $ 2,389 Revenues $ 6,593 $ 8,203 $ 3,810 $ 2,980 $ 8,885 $ 6,597 $ 37,635 $ 43,032 Net income (loss) attributable to: Non-controlling interests $ (673) $ 2,091 $ 162 $ 348 $ 863 $ 636 $ 686 $ 353 Shareholders (1,385) 1,066 (207) (75) 41 14 (106) 81 $ (2,058) $ 3,157 $ (45) $ 273 $ 904 $ 650 $ 580 $ 434 Other comprehensive income (loss) attributable to: Non-controlling interests $ 153 $ 234 $ 1,621 $ 1,179 $ (82) $ 486 $ 25 $ (159) Shareholders 261 89 653 546 20 104 47 (39) $ 414 $ 323 $ 2,274 $ 1,725 $ (62) $ 590 $ 72 $ (198) The summarized cash flows of the company’s subsidiaries with material non-controlling interests are as follows: BPY BEP BIP BBU FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 2020 2019 2020 2019 2020 2019 Cash flows from (used in): Operating activities $ 1,332 $ 624 $ 1,296 $ 1,212 $ 2,530 $ 2,143 $ 4,205 $ 2,163 Financing activities (215) (892) (792) (1,010) 2,126 9,542 (1,077) 15,925 Investing activities (99) (1,611) (426) (251) (4,609) (11,372) (2,334) (17,939) Distributions paid to non-controlling interests in common equity $ 528 $ 576 $ 323 $ 254 $ 642 $ 628 $ 13 $ 13

ACQUISITIONS OF CONSOLIDATED _2

ACQUISITIONS OF CONSOLIDATED ENTITIES (Tables)	12 Months Ended
ACQUISITIONS OF CONSOLIDATED ENTITIES (Tables)	Dec. 31, 2020
Disclosure of detailed information about business combination [table]
Disclosure of detailed information about business combinations	The following table summarizes the balance sheet impact as a result of business combinations that occurred in the year ended December 31, 2020 . The valuations of the assets acquired are still under evaluation and as such the business combinations have been accounted for on a provisional basis: (MILLIONS) Private Equity Infrastructure Real Estate, Renewable Power and Other Total Cash and cash equivalents $ 105 $ — $ 38 $ 143 Accounts receivable and other 1,441 408 76 1,925 Inventory 12 — 55 67 Property, plant and equipment 84 7,334 661 8,079 Intangible assets 27 532 66 625 Goodwill 63 27 55 145 Deferred income tax assets 31 — 15 46 Total assets 1,763 8,301 966 11,030 Less: Accounts payable and other (55) (2,518) (227) (2,800) Non-recourse borrowings (1,016) (2,356) (470) (3,842) Deferred income tax liabilities — (22) (12) (34) Non-controlling interests 1 (227) — (47) (274) (1,298) (4,896) (756) (6,950) Net assets acquired $ 465 $ 3,405 $ 210 $ 4,080 Consideration 2 $ 465 $ 3,405 $ 210 $ 4,080 1. Includes non-controlling interests recognized on business combinations measured as the proportionate share of fair value of the identifiable assets and liabilities on the date of acquisition. 2. Total consideration, including amounts paid by non-controlling interests that participated in the acquisition as investors in Brookfield-sponsored private funds or as co-investors. Private Equity Infrastructure (MILLIONS) IndoStar Summit DigiTel Cash and cash equivalents $ 78 $ — Accounts receivable and other 1,391 408 Property, plant and equipment 9 7,334 Intangible assets 20 532 Goodwill 21 27 Deferred income tax assets 28 — Total assets 1,547 8,301 Less: Accounts payable and other (30) (2,518) Non-recourse borrowings (1,003) (2,356) Deferred income tax liabilities — (22) Non-controlling interests 1 (219) — (1,252) (4,896) Net assets acquired $ 295 $ 3,405 Consideration 2 $ 295 $ 3,405 1. Includes non-controlling interests recognized on business combinations measured as the proportionate share of fair value of the identifiable assets and liabilities on the date of acquisition. 2. Total consideration, including amounts paid by non-controlling interests that participated in the acquisition as investors in Brookfield-sponsored private funds or as co-investors. The following table summarizes the balance sheet impact as a result of business combinations that occurred in 2019. No material changes were made to those allocations disclosed in the 2019 consolidated financial statements: (MILLIONS) Private Equity Infrastructure Real Estate Renewable Power and Other Total Cash and cash equivalents $ 344 $ 94 $ 31 $ 6 $ 475 Accounts receivable and other 6,706 553 114 110 7,483 Assets classified as held for sale — 1,584 — — 1,584 Inventory 2,230 74 46 13 2,363 Equity accounted investments 847 48 — — 895 Investment properties — 211 3,458 — 3,669 Property, plant and equipment 6,650 8,710 785 1,308 17,453 Intangible assets 7,057 3,248 28 — 10,333 Goodwill 3,479 2,644 2 — 6,125 Deferred income tax assets 363 46 — — 409 Total assets 27,676 17,212 4,464 1,437 50,789 Less: Accounts payable and other (5,025) (2,425) (2,394) (101) (9,945) Non-recourse borrowings (1,084) (1,980) (537) (319) (3,920) Deferred income tax liabilities (1,142) (1,248) — (36) (2,426) Non-controlling interests 1 (1,749) (828) (88) — (2,665) (9,000) (6,481) (3,019) (456) (18,956) Net assets acquired $ 18,676 $ 10,731 $ 1,445 $ 981 $ 31,833 Consideration 2 $ 18,672 $ 10,731 $ 1,445 $ 981 $ 31,829 1. Includes non-controlling interests recognized on business combinations measured as the proportionate share of fair value of the identifiable assets and liabilities on the date of acquisition. 2. Total consideration, including amounts paid by non-controlling interests that participated in the acquisition as investors in Brookfield-sponsored private funds or as co-investors. The following table summarizes the balance sheet impact as a result of significant business combinations that occurred in 2019 . No material changes were made to those allocations disclosed in the 2019 consolidated financial statements . Private Equity Infrastructure Real Estate Renewable Power (MILLIONS) Clarios Healthscope Genworth East-West Pipeline Genesee & Wyoming NorthRiver Aveo Group Arcadia Cash and cash equivalents $ 11 $ 25 $ 253 $ — $ 67 $ 2 $ 27 $ 3 Accounts receivable and other 1,503 196 4,796 66 461 — 92 31 Assets classified as held for sale — — — — 1,584 — — — Inventory 1,775 41 — 28 43 3 43 7 Equity accounted investments 838 9 — — 48 — — — Investment properties — — — — — — 3,458 — Property, plant and equipment 3,582 2,590 10 2,134 5,283 1,198 95 759 Intangible assets 6,420 280 243 295 1,992 74 2 — Goodwill 1,894 1,548 — — 2,042 218 — — Deferred income tax assets 181 136 — — 5 41 — — Total assets 16,204 4,825 5,302 2,523 11,525 1,536 3,717 800 Less: Accounts payable and other (1,998) (691) (1,954) (66) (2,071) (218) (2,368) (65) Non-recourse borrowings — — (342) — (1,567) — (537) — Deferred income tax liabilities (967) (79) (49) — (1,111) — — — Non-controlling interests 1 (469) — (1,279) (578) (250) — (88) — (3,434) (770) (3,624) (644) (4,999) (218) (2,993) (65) Net assets acquired $ 12,770 $ 4,055 $ 1,678 $ 1,879 $ 6,526 $ 1,318 $ 724 $ 735 Consideration 2 $ 12,770 $ 4,055 $ 1,674 $ 1,879 $ 6,526 $ 1,318 $ 724 $ 735 1. Includes non-controlling interests recognized on business combinations measured as the proportionate share of fair value of the identifiable assets and liabilities on the date of acquisition.

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	Dec. 31, 2020
Disclosure of detailed information about financial instruments [abstract]
Disclosure of financial assets	The following tables list the company’s financial instruments by their respective classification as at December 31, 2020 and 2019: AS AT DEC. 31, 2020 (MILLIONS) Fair Value Through Fair Value Through OCI Amortized Cost Total Financial assets 1 Cash and cash equivalents $ — $ — $ 9,933 $ 9,933 Other financial assets Government bonds 356 2,295 — 2,651 Corporate bonds 1,094 2,148 357 3,599 Fixed income securities and other 1,079 1,191 — 2,270 Common shares and warrants 3,287 3,227 — 6,514 Loans and notes receivable 2 110 — 2,586 2,696 5,926 8,861 2,943 17,730 Accounts receivable and other 3 1,766 — 11,906 13,672 $ 7,692 $ 8,861 $ 24,782 $ 41,335 Financial liabilities Corporate borrowings $ — $ — $ 9,077 $ 9,077 Non-recourse borrowings of managed entities Property-specific borrowings — — 128,556 128,556 Subsidiary borrowings — — 10,768 10,768 — — 139,324 139,324 Accounts payable and other 2 5,889 — 35,228 41,117 Subsidiary equity obligations 1,457 — 2,242 3,699 $ 7,346 $ — $ 185,871 $ 193,217 1. Financial assets include $9.7 billion of assets pledged as collateral. 2. Includes a shareholder loan of $500 million receivable from our U.S. gas pipeline. 3. Includes derivative instruments which are elected for hedge accounting, totaling $888 million included in accounts receivable and other and $2.4 billion included in accounts payable and other, for which changes in fair value are recorded in other comprehensive income. AS AT DEC. 31, 2019 (MILLIONS) Fair Value Through Fair Value Through OCI Amortized Cost Total Financial assets 1 Cash and cash equivalents $ — $ — $ 6,778 $ 6,778 Other financial assets Government bonds 156 2,247 — 2,403 Corporate bonds 1,118 1,839 310 3,267 Fixed income securities and other 1,131 619 — 1,750 Common shares and warrants 1,791 1,398 — 3,189 Loans and notes receivable 2 55 — 1,804 1,859 4,251 6,103 2,114 12,468 Accounts receivable and other 3 1,957 — 12,078 14,035 $ 6,208 $ 6,103 $ 20,970 $ 33,281 Financial liabilities Corporate borrowings $ — $ — $ 7,083 $ 7,083 Non-recourse borrowings of managed entities Property-specific borrowings — — 127,869 127,869 Subsidiary borrowings — — 8,423 8,423 — — 136,292 136,292 Accounts payable and other 2 4,528 — 32,196 36,724 Subsidiary equity obligations 1,896 — 2,236 4,132 $ 6,424 $ — $ 177,807 $ 184,231 1. Financial assets include $7.0 billion of assets pledged as collateral. 2. Includes a shareholder loan of $500 million receivable from our U.S. gas pipeline. 3. Includes derivative instruments which are elected for hedge accounting, totaling $950 million included in accounts receivable and other and $1.3 billion included in accounts payable and other, for which changes in fair value are recorded in other comprehensive income. The current and non-current balances of other financial assets are as follows: AS AT DEC. 31 (MILLIONS) 2020 2019 Current $ 5,483 $ 3,605 Non-current 12,247 8,863 Total $ 17,730 $ 12,468
Disclosure of financial liabilities	The following tables list the company’s financial instruments by their respective classification as at December 31, 2020 and 2019: AS AT DEC. 31, 2020 (MILLIONS) Fair Value Through Fair Value Through OCI Amortized Cost Total Financial assets 1 Cash and cash equivalents $ — $ — $ 9,933 $ 9,933 Other financial assets Government bonds 356 2,295 — 2,651 Corporate bonds 1,094 2,148 357 3,599 Fixed income securities and other 1,079 1,191 — 2,270 Common shares and warrants 3,287 3,227 — 6,514 Loans and notes receivable 2 110 — 2,586 2,696 5,926 8,861 2,943 17,730 Accounts receivable and other 3 1,766 — 11,906 13,672 $ 7,692 $ 8,861 $ 24,782 $ 41,335 Financial liabilities Corporate borrowings $ — $ — $ 9,077 $ 9,077 Non-recourse borrowings of managed entities Property-specific borrowings — — 128,556 128,556 Subsidiary borrowings — — 10,768 10,768 — — 139,324 139,324 Accounts payable and other 2 5,889 — 35,228 41,117 Subsidiary equity obligations 1,457 — 2,242 3,699 $ 7,346 $ — $ 185,871 $ 193,217 1. Financial assets include $9.7 billion of assets pledged as collateral. 2. Includes a shareholder loan of $500 million receivable from our U.S. gas pipeline. 3. Includes derivative instruments which are elected for hedge accounting, totaling $888 million included in accounts receivable and other and $2.4 billion included in accounts payable and other, for which changes in fair value are recorded in other comprehensive income. AS AT DEC. 31, 2019 (MILLIONS) Fair Value Through Fair Value Through OCI Amortized Cost Total Financial assets 1 Cash and cash equivalents $ — $ — $ 6,778 $ 6,778 Other financial assets Government bonds 156 2,247 — 2,403 Corporate bonds 1,118 1,839 310 3,267 Fixed income securities and other 1,131 619 — 1,750 Common shares and warrants 1,791 1,398 — 3,189 Loans and notes receivable 2 55 — 1,804 1,859 4,251 6,103 2,114 12,468 Accounts receivable and other 3 1,957 — 12,078 14,035 $ 6,208 $ 6,103 $ 20,970 $ 33,281 Financial liabilities Corporate borrowings $ — $ — $ 7,083 $ 7,083 Non-recourse borrowings of managed entities Property-specific borrowings — — 127,869 127,869 Subsidiary borrowings — — 8,423 8,423 — — 136,292 136,292 Accounts payable and other 2 4,528 — 32,196 36,724 Subsidiary equity obligations 1,896 — 2,236 4,132 $ 6,424 $ — $ 177,807 $ 184,231 1. Financial assets include $7.0 billion of assets pledged as collateral. 2. Includes a shareholder loan of $500 million receivable from our U.S. gas pipeline. 3. Includes derivative instruments which are elected for hedge accounting, totaling $950 million included in accounts receivable and other and $1.3 billion included in accounts payable and other, for which changes in fair value are recorded in other comprehensive income. The following table presents the changes in the balance of financial assets and liabilities classified as Level 3 for the years ended December 31, 2020 and 2019 : 2020 2019 AS AT AND FOR THE YEARS ENDED DEC. 31 (MILLIONS) Financial Financial Financial Financial Balance, beginning of year $ 1,780 $ 2,542 $ 795 $ 2,299 Fair value changes in net income (92) (111) 278 (27) Fair value changes in other comprehensive income 1 15 4 (10) 6 Additions, net of disposals 666 (331) 717 264 Balance, end of year $ 2,369 $ 2,104 $ 1,780 $ 2,542 1. Includes foreign currency translation. The following table categorizes liabilities measured at amortized cost, but for which fair values are disclosed based upon the fair value hierarchy levels: 2020 2019 AS AT DEC. 31, 2020 (MILLIONS) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Corporate borrowings $ 10,443 $ 97 $ — $ 7,841 $ 92 $ — Property-specific borrowings 3,406 57,927 69,766 6,467 52,386 70,875 Subsidiary borrowings 7,825 3 3,257 6,111 299 2,222 Subsidiary equity obligations — 73 2,169 — 73 2,170
Disclosure of fair value of financial instruments [text block]	The following table lists the company’s financial instruments by their respective classification as at December 31, 2020 and December 31, 2019: 2020 2019 AS AT DEC. 31 (MILLIONS) Carrying Fair Carrying Fair Financial assets Cash and cash equivalents $ 9,933 $ 9,933 $ 6,778 $ 6,778 Other financial assets Government bonds 2,651 2,651 2,403 2,403 Corporate bonds 3,599 3,599 3,267 3,267 Fixed income securities and other 2,270 2,270 1,750 1,750 Common shares and warrants 6,514 6,514 3,189 3,189 Loans and notes receivable 2,696 2,696 1,859 1,859 17,730 17,730 12,468 12,468 Accounts receivable and other 13,672 13,672 14,035 14,035 $ 41,335 $ 41,335 $ 33,281 $ 33,281 Financial liabilities Corporate borrowings $ 9,077 $ 10,540 $ 7,083 $ 7,933 Non-recourse borrowings of managed entities Property-specific borrowings 128,556 131,099 127,869 129,728 Subsidiary borrowings 10,768 11,085 8,423 8,632 139,324 142,184 136,292 138,360 Accounts payable and other 41,117 41,117 36,724 36,724 Subsidiary equity obligations 3,699 3,699 4,132 4,139 $ 193,217 $ 197,540 $ 184,231 $ 187,156
Carrying and fair values of financial assets	The following table categorizes financial assets and liabilities, which are carried at fair value, based upon the fair value hierarchy levels: 2020 2019 AS AT DEC. 31 (MILLIONS) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Financial assets Other financial assets Government bonds $ 7 $ 2,644 $ — $ — $ 2,403 $ — Corporate bonds 192 2,764 286 — 2,682 275 Fixed income securities and other 867 912 491 419 851 480 Common shares and warrants 4,548 577 1,389 1,966 421 802 Loans and notes receivables — 42 68 — 51 4 Accounts receivable and other 50 1,581 135 1 1,737 219 $ 5,664 $ 8,520 $ 2,369 $ 2,386 $ 8,145 $ 1,780 Financial liabilities Accounts payable and other $ 75 $ 5,090 $ 724 $ 93 $ 3,749 $ 686 Subsidiary equity obligations — 77 1,380 — 40 1,856 $ 75 $ 5,167 $ 2,104 $ 93 $ 3,789 $ 2,542 The following table presents our investment properties measured at fair value: AS AT DEC. 31 (MILLIONS) 2020 2019 Core office United States $ 15,093 $ 15,748 Canada 5,102 4,806 Australia 2,731 2,300 Europe 2,699 2,867 Brazil 309 361 Core retail 20,324 21,561 LP investments and other LP investments office 8,727 8,756 LP investments retail 2,538 2,812 Logistics — 94 Multifamily 2,442 2,937 Triple net lease 3,719 4,508 Self-storage — 1,007 Student housing 2,962 2,605 Manufactured housing 2,784 2,446 Mixed-use 3,096 2,703 Directly held real estate properties 22,350 19,814 Other investment properties 1,906 1,361 $ 96,782 $ 96,686
Carrying and fair values of financial liabilities	The following table categorizes financial assets and liabilities, which are carried at fair value, based upon the fair value hierarchy levels: 2020 2019 AS AT DEC. 31 (MILLIONS) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Financial assets Other financial assets Government bonds $ 7 $ 2,644 $ — $ — $ 2,403 $ — Corporate bonds 192 2,764 286 — 2,682 275 Fixed income securities and other 867 912 491 419 851 480 Common shares and warrants 4,548 577 1,389 1,966 421 802 Loans and notes receivables — 42 68 — 51 4 Accounts receivable and other 50 1,581 135 1 1,737 219 $ 5,664 $ 8,520 $ 2,369 $ 2,386 $ 8,145 $ 1,780 Financial liabilities Accounts payable and other $ 75 $ 5,090 $ 724 $ 93 $ 3,749 $ 686 Subsidiary equity obligations — 77 1,380 — 40 1,856 $ 75 $ 5,167 $ 2,104 $ 93 $ 3,789 $ 2,542
Description of valuation techniques used in fair value measurement, assets	The following table summarizes the valuation techniques and key inputs used in the fair value measurement of Level 2 financial instruments: (MILLIONS) Type of Asset/Liability Carrying Value Dec. 31, 2020 Valuation Techniques and Key Inputs Derivative assets/Derivative liabilities (accounts receivable/accounts payable) $ 1,581 / Foreign currency forward contracts – discounted cash flow model – forward exchange rates (from observable forward exchange rates at the end of the reporting period) and discounted at credit adjusted rate (5,090) Other financial assets 6,939 Valuation models based on observable market data Redeemable fund units (subsidiary equity obligations) (77) Aggregated market prices of underlying investments
Schedule of significant unobservable inputs used and change in balance of financial assets	The following table summarizes the valuation techniques and significant unobservable inputs used in the fair value measurement of Level 3 financial instruments: (MILLIONS) Type of Asset/Liability Carrying Value Dec. 31, 2020 Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Fixed income securities and other $ 491 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Corporate bonds 286 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Common shares and warrants 1,389 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Black-Scholes model • Volatility • Increases (decreases) in volatility increase (decreases) fair value • Term to maturity • Increases (decreases) in term to maturity increase (decrease) fair value Limited-life funds (subsidiary equity obligations) (1,380) Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value Derivative assets/Derivative liabilities (accounts receivable/payable) 135 / Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value (724) • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Timber / agricultural prices • Increases (decreases) in price increase (decrease) fair value • Increases (decreases) in price tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from price • Discount rate /terminal capitalization rate • Increases (decreases) in discount rate or terminal capitalization rate decrease (increase) fair value • Decreases (increases) in discount rates or terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from rates • Exit Date • Increases (decreases) in exit date decrease (increase) fair value • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year Significant unobservable inputs (Level 3) are utilized when determining the fair value of investment properties. The significant Level 3 inputs include: Valuation Technique Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis 1 • Future cash flows – primarily driven by net operating income • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from terminal capitalization rates • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value • Increases (decreases) in the investment horizon tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year 1. Certain investment properties are valued using the direct capitalization method instead of a discounted cash flow model. Under the direct capitalization method, a capitalization rate is applied to estimated current year cash flows. The following table summarizes the key valuation metrics of the company’s investment properties: 2020 2019 AS AT DEC. 31 Discount Terminal Investment Discount Rate Terminal Capitalization Rate Investment Horizon (years) Core office United States 6.9 % 5.6 % 12 7.0 % 5.6 % 12 Canada 5.9 % 5.2 % 10 5.9 % 5.2 % 10 Australia 6.6 % 5.7 % 10 6.8 % 5.9 % 10 Europe 5.2 % 3.8 % 10 4.6 % 4.1 % 11 Brazil 7.6 % 7.0 % 10 7.9 % 7.4 % 10 Core retail 7.0 % 5.3 % 10 6.7 % 5.4 % 10 LP investments and other LP investments office 9.7 % 7.2 % 7 10.0 % 7.3 % 7 LP investments retail 8.7 % 7.0 % 10 8.8 % 7.3 % 10 Mixed-use 7.3 % 5.2 % 10 7.6 % 5.4 % 10 Logistics 1 — % n/a n/a 5.8 % n/a n/a Multifamily 1 4.9 % n/a n/a 5.1 % n/a n/a Triple net lease 1 6.2 % n/a n/a 6.3 % n/a n/a Self-storage 1 — % n/a n/a 5.6 % n/a n/a Student housing 1 4.9 % n/a n/a 5.8 % n/a n/a Manufactured housing 1 4.8 % n/a n/a 5.5 % n/a n/a Directly held real estate properties 2 5.1 – 9.3% 5.4 % 19 5.2 – 9.2% 6.1 % 19 Other investment properties 1,3 5.0 – 8.7% n/a n/a 8.9 % n/a n/a 1. Logistics, multifamily, triple net lease, self-storage, student housing, manufactured housing and other investment properties are valued using the direct capitalization method. The rates presented as the discount rate represent the overall implied capitalization rate. The terminal capitalization rate and the investment horizon are not applicable. 2. We use either the discounted cash flow or the direct capitalization method when valuing our directly held real estate properties. The rates presented as the discount rate represent the overall implied capitalization rates for investment properties that are valued using the direct capitalization approach. Key valuation metrics of the company’s hydroelectric, wind and solar generating facilities at the end of 2020 and 2019 are summarized below. North America Brazil Colombia Europe AS AT DEC. 31 2020 2019 2020 2019 2020 2019 2020 2019 Discount rate Contracted 4.1 – 4.5% 4.6 – 4.9% 7.3 % 8.2 % 8.1 % 9.0 % 3.0 – 3.6% 3.5 – 4.0% Uncontracted 5.6 – 6.0% 6.1 – 6.4% 8.6 % 9.5 % 9.4 % 10.3 % 3.6 – 4.7% 4.0 – 5.3% Terminal capitalization rate 1 5.8 – 6.2% 6.2 – 6.7% n/a n/a 8.9 % 9.8 % n/a n/a Exit date 2041 2040 2048 2047 2040 2039 2035 2035 1. Terminal capitalization rate applies only to hydroelectric assets in North America and Colombia. Key valuation metrics of the company’s utilities, transport, midstream, data and sustainable resources assets at the end of 2020 and 2019 are summarized below. Utilities Transport Midstream Sustainable Resources AS AT DEC. 31 2020 2019 2020 2019 2020 2019 2020 2019 Discount rates 7 – 14% 7 – 14% 7 – 13% 7 – 13% 15 % 15 % 6% 5 – 10% Terminal capitalization multiples 7x – 23x 8x – 21x 9x – 14x 9x – 14x 10x 10x 6x 5x – 10x Investment horizon/Exit date (years) 10 10 – 20 10 10 – 20 5 – 10 5 – 10 10 3 – 21 Valuation Technique Significant Unobservable Input(s) Relationship of Unobservable Input(s) to Fair Value Mitigating Factor(s) Discounted cash flow models • Future cash flows • Increases (decreases) in future cash flows increase (decrease) the recoverable amount • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in recoverable amounts from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) the recoverable amount • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) the recoverable amount • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from terminal capitalization rates • Exit date • Increases (decreases) in the exit date decrease (increase) the recoverable amount • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year The recoverable amounts used in goodwill impairment testing are calculated using discounted cash flow models based on the following significant unobservable inputs: Valuation Technique Significant Unobservable Input(s) Relationship of Unobservable Input(s) to Fair Value Mitigating Factor(s) Discounted cash flow models • Future cash flows • Increases (decreases) in future cash flows increase (decrease) the recoverable amount • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in recoverable amounts from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) the recoverable amount • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from discount rates • Terminal capitalization rate/multiple • Increases (decreases) in terminal capitalization rate/multiple decrease (increase) the recoverable amount • Increases (decreases) in terminal capitalization rates/multiple tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from terminal capitalization rates • Exit date/terminal year of cash flows • Increases (decreases) in the exit date/terminal year of cash flows decrease (increase) the recoverable amount • Increases (decreases) in the exit date/terminal year of cash flows tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year
Schedule of significant unobservable inputs used and change in balance of financial liabilities	The following table summarizes the valuation techniques and significant unobservable inputs used in the fair value measurement of Level 3 financial instruments: (MILLIONS) Type of Asset/Liability Carrying Value Dec. 31, 2020 Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Fixed income securities and other $ 491 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Corporate bonds 286 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Common shares and warrants 1,389 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Black-Scholes model • Volatility • Increases (decreases) in volatility increase (decreases) fair value • Term to maturity • Increases (decreases) in term to maturity increase (decrease) fair value Limited-life funds (subsidiary equity obligations) (1,380) Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value Derivative assets/Derivative liabilities (accounts receivable/payable) 135 / Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value (724) • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value

ACCOUNTS RECEIVABLE AND OTHER (

ACCOUNTS RECEIVABLE AND OTHER (Tables)	12 Months Ended
ACCOUNTS RECEIVABLE AND OTHER (Tables)	Dec. 31, 2020
Subclassifications of assets, liabilities and equities [abstract]
Schedule of accounts receivable and other	AS AT DEC. 31 (MILLIONS) Note 2020 2019 Accounts receivable (a) $ 10,113 $ 11,129 Prepaid expenses and other assets (a) 6,335 5,636 Restricted cash (b) 2,395 1,595 Sustainable resources 85 109 Total $ 18,928 $ 18,469
Schedule of current and non-current accounts receivable	The current and non-current balances of accounts receivable and other are as follows: AS AT DEC. 31 (MILLIONS) 2020 2019 Current $ 14,187 $ 13,862 Non-current 4,741 4,607 Total $ 18,928 $ 18,469
Schedule of change in balance of timberlands and other agricultural assets	The following table presents the change in the balance of timberlands and other agricultural assets: AS AT AND FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 Balance, beginning of year $ 109 $ 333 Additions 75 77 Dispositions — (270) Fair value adjustments 2 12 Decrease due to harvest (61) (39) Foreign currency changes (40) (4) Balance, end of year $ 85 $ 109
Disclosure of significant unobservable inputs used in fair value measurement of assets [text block]	The following table summarizes the valuation techniques and significant unobservable inputs used in the fair value measurement of Level 3 financial instruments: (MILLIONS) Type of Asset/Liability Carrying Value Dec. 31, 2020 Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Fixed income securities and other $ 491 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Corporate bonds 286 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Common shares and warrants 1,389 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Black-Scholes model • Volatility • Increases (decreases) in volatility increase (decreases) fair value • Term to maturity • Increases (decreases) in term to maturity increase (decrease) fair value Limited-life funds (subsidiary equity obligations) (1,380) Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value Derivative assets/Derivative liabilities (accounts receivable/payable) 135 / Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value (724) • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Timber / agricultural prices • Increases (decreases) in price increase (decrease) fair value • Increases (decreases) in price tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from price • Discount rate /terminal capitalization rate • Increases (decreases) in discount rate or terminal capitalization rate decrease (increase) fair value • Decreases (increases) in discount rates or terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from rates • Exit Date • Increases (decreases) in exit date decrease (increase) fair value • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year Significant unobservable inputs (Level 3) are utilized when determining the fair value of investment properties. The significant Level 3 inputs include: Valuation Technique Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis 1 • Future cash flows – primarily driven by net operating income • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from terminal capitalization rates • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value • Increases (decreases) in the investment horizon tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year 1. Certain investment properties are valued using the direct capitalization method instead of a discounted cash flow model. Under the direct capitalization method, a capitalization rate is applied to estimated current year cash flows. The following table summarizes the key valuation metrics of the company’s investment properties: 2020 2019 AS AT DEC. 31 Discount Terminal Investment Discount Rate Terminal Capitalization Rate Investment Horizon (years) Core office United States 6.9 % 5.6 % 12 7.0 % 5.6 % 12 Canada 5.9 % 5.2 % 10 5.9 % 5.2 % 10 Australia 6.6 % 5.7 % 10 6.8 % 5.9 % 10 Europe 5.2 % 3.8 % 10 4.6 % 4.1 % 11 Brazil 7.6 % 7.0 % 10 7.9 % 7.4 % 10 Core retail 7.0 % 5.3 % 10 6.7 % 5.4 % 10 LP investments and other LP investments office 9.7 % 7.2 % 7 10.0 % 7.3 % 7 LP investments retail 8.7 % 7.0 % 10 8.8 % 7.3 % 10 Mixed-use 7.3 % 5.2 % 10 7.6 % 5.4 % 10 Logistics 1 — % n/a n/a 5.8 % n/a n/a Multifamily 1 4.9 % n/a n/a 5.1 % n/a n/a Triple net lease 1 6.2 % n/a n/a 6.3 % n/a n/a Self-storage 1 — % n/a n/a 5.6 % n/a n/a Student housing 1 4.9 % n/a n/a 5.8 % n/a n/a Manufactured housing 1 4.8 % n/a n/a 5.5 % n/a n/a Directly held real estate properties 2 5.1 – 9.3% 5.4 % 19 5.2 – 9.2% 6.1 % 19 Other investment properties 1,3 5.0 – 8.7% n/a n/a 8.9 % n/a n/a 1. Logistics, multifamily, triple net lease, self-storage, student housing, manufactured housing and other investment properties are valued using the direct capitalization method. The rates presented as the discount rate represent the overall implied capitalization rate. The terminal capitalization rate and the investment horizon are not applicable. 2. We use either the discounted cash flow or the direct capitalization method when valuing our directly held real estate properties. The rates presented as the discount rate represent the overall implied capitalization rates for investment properties that are valued using the direct capitalization approach. Key valuation metrics of the company’s hydroelectric, wind and solar generating facilities at the end of 2020 and 2019 are summarized below. North America Brazil Colombia Europe AS AT DEC. 31 2020 2019 2020 2019 2020 2019 2020 2019 Discount rate Contracted 4.1 – 4.5% 4.6 – 4.9% 7.3 % 8.2 % 8.1 % 9.0 % 3.0 – 3.6% 3.5 – 4.0% Uncontracted 5.6 – 6.0% 6.1 – 6.4% 8.6 % 9.5 % 9.4 % 10.3 % 3.6 – 4.7% 4.0 – 5.3% Terminal capitalization rate 1 5.8 – 6.2% 6.2 – 6.7% n/a n/a 8.9 % 9.8 % n/a n/a Exit date 2041 2040 2048 2047 2040 2039 2035 2035 1. Terminal capitalization rate applies only to hydroelectric assets in North America and Colombia. Key valuation metrics of the company’s utilities, transport, midstream, data and sustainable resources assets at the end of 2020 and 2019 are summarized below. Utilities Transport Midstream Sustainable Resources AS AT DEC. 31 2020 2019 2020 2019 2020 2019 2020 2019 Discount rates 7 – 14% 7 – 14% 7 – 13% 7 – 13% 15 % 15 % 6% 5 – 10% Terminal capitalization multiples 7x – 23x 8x – 21x 9x – 14x 9x – 14x 10x 10x 6x 5x – 10x Investment horizon/Exit date (years) 10 10 – 20 10 10 – 20 5 – 10 5 – 10 10 3 – 21 Valuation Technique Significant Unobservable Input(s) Relationship of Unobservable Input(s) to Fair Value Mitigating Factor(s) Discounted cash flow models • Future cash flows • Increases (decreases) in future cash flows increase (decrease) the recoverable amount • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in recoverable amounts from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) the recoverable amount • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) the recoverable amount • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from terminal capitalization rates • Exit date • Increases (decreases) in the exit date decrease (increase) the recoverable amount • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year The recoverable amounts used in goodwill impairment testing are calculated using discounted cash flow models based on the following significant unobservable inputs: Valuation Technique Significant Unobservable Input(s) Relationship of Unobservable Input(s) to Fair Value Mitigating Factor(s) Discounted cash flow models • Future cash flows • Increases (decreases) in future cash flows increase (decrease) the recoverable amount • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in recoverable amounts from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) the recoverable amount • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from discount rates • Terminal capitalization rate/multiple • Increases (decreases) in terminal capitalization rate/multiple decrease (increase) the recoverable amount • Increases (decreases) in terminal capitalization rates/multiple tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from terminal capitalization rates • Exit date/terminal year of cash flows • Increases (decreases) in the exit date/terminal year of cash flows decrease (increase) the recoverable amount • Increases (decreases) in the exit date/terminal year of cash flows tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year

INVENTORY (Tables)

INVENTORY (Tables)	12 Months Ended
INVENTORY (Tables)	Dec. 31, 2020
Inventories [Abstract]
Schedule of inventory properties	AS AT DEC. 31 (MILLIONS) 2020 2019 Residential properties under development $ 2,816 $ 3,007 Land held for development 2,015 1,781 Completed residential properties 743 998 Industrial products 2,611 2,816 Other 1 2,175 1,670 Total $ 10,360 $ 10,272 1. Other includes fuel inventory of $651 million (2019 – $690 million) and office developments of $581 million (2019 – $243 million).
Schedule of current and non-current balances of inventory	The current and non-current balances of inventory are as follows: AS AT DEC. 31 (MILLIONS) 2020 2019 Current $ 6,337 $ 7,054 Non-current 4,023 3,218 Total $ 10,360 $ 10,272

HELD FOR SALE (Tables)

HELD FOR SALE (Tables)	12 Months Ended
HELD FOR SALE (Tables)	Dec. 31, 2020
Non-current assets or disposal groups classified as held for sale or as held for distribution to owners [abstract]
Schedule of assets and liabilities classified as held-for-sale	The following is a summary of the assets and liabilities classified as held for sale as at December 31, 2020 and 2019: AS AT DEC. 31 (MILLIONS) Real Estate Renewable Power Private Equity 2020 Total 2019 Total Assets Cash and cash equivalents $ 1 $ 5 $ — $ 6 $ 58 Accounts receivable and other 62 1 4 67 174 Equity accounted investments 208 — 1,325 1,533 413 Investment properties 4,224 — — 4,224 251 Property, plant and equipment — 51 31 82 1,730 Other long-term assets 5 — — 5 872 Deferred income tax assets — — — — 4 Assets classified as held for sale $ 4,500 $ 57 $ 1,360 $ 5,917 $ 3,502 Liabilities Accounts payable and other $ 115 $ 3 $ — $ 118 $ 223 Non-recourse borrowings of managed entities 2,230 4 — 2,234 1,071 Deferred income tax liabilities — 7 — 7 396 Liabilities associated with assets classified as held for sale $ 2,345 $ 14 $ — $ 2,359 $ 1,690

EQUITY ACCOUNTED INVESTMENTS (T

EQUITY ACCOUNTED INVESTMENTS (Tables)	12 Months Ended
EQUITY ACCOUNTED INVESTMENTS (Tables)	Dec. 31, 2020
Investments in subsidiaries, joint ventures and associates [abstract]
Schedule of voting interests and carrying value of investments in associates	The following table presents the ownership interests and carrying values of the company’s investments in associates and joint ventures, all of which are accounted for using the equity method: Ownership Interest 1 Carrying Value AS AT DEC. 31 (MILLIONS) 2020 2019 2020 2019 Oaktree 62 % 61 % $ 5,317 $ 5,231 Real estate Associates LP investments and other 16 – 50% 30 – 90% 136 307 Joint ventures Core office 15 – 56% 14 – 56% 8,866 9,440 Core retail 22 – 68% 12 – 68% 9,684 10,555 LP investments and other 9 – 84% 18 – 80% 2,338 2,012 21,024 22,314 Infrastructure Associates Utilities 2 11 – 50% 11 – 50% 1,010 962 Transport 21 – 58% 26 – 58% 5,114 4,033 Data 45 – 50% 45 – 50% 3,209 2,920 Other 22 – 50% 22 – 50% 130 156 Joint ventures Midstream 50 % 50 % 841 716 Other 50 % 50 % 226 185 10,530 8,972 Private equity Associates Norbord — % 43 % — 1,185 Industrial operations 24 – 54% 24 – 54% 834 854 Other 14 – 70% 25 – 90% 1,789 557 2,623 2,596 Renewable power and other Renewable power associates 12 – 60% 14 – 60% 1,444 1,154 Other equity accounted investments 3 14 – 77% 16 – 85% 389 431 1,833 1,585 Total $ 41,327 $ 40,698 1. Joint ventures or associates in which the ownership interest is greater than 50% represent investments for which control is either shared or does not exist resulting in the investment being equity accounted. 2. The current and comparative period include a shareholder loan of $500 million receivable from our investment in associate in a U.S. gas pipeline business. 3. Carrying value of joint ventures in other equity accounted investments is $346 million (2019 – $383 million).
Schedule of voting interests and carrying value of investments in joint ventures	The following table presents the ownership interests and carrying values of the company’s investments in associates and joint ventures, all of which are accounted for using the equity method: Ownership Interest 1 Carrying Value AS AT DEC. 31 (MILLIONS) 2020 2019 2020 2019 Oaktree 62 % 61 % $ 5,317 $ 5,231 Real estate Associates LP investments and other 16 – 50% 30 – 90% 136 307 Joint ventures Core office 15 – 56% 14 – 56% 8,866 9,440 Core retail 22 – 68% 12 – 68% 9,684 10,555 LP investments and other 9 – 84% 18 – 80% 2,338 2,012 21,024 22,314 Infrastructure Associates Utilities 2 11 – 50% 11 – 50% 1,010 962 Transport 21 – 58% 26 – 58% 5,114 4,033 Data 45 – 50% 45 – 50% 3,209 2,920 Other 22 – 50% 22 – 50% 130 156 Joint ventures Midstream 50 % 50 % 841 716 Other 50 % 50 % 226 185 10,530 8,972 Private equity Associates Norbord — % 43 % — 1,185 Industrial operations 24 – 54% 24 – 54% 834 854 Other 14 – 70% 25 – 90% 1,789 557 2,623 2,596 Renewable power and other Renewable power associates 12 – 60% 14 – 60% 1,444 1,154 Other equity accounted investments 3 14 – 77% 16 – 85% 389 431 1,833 1,585 Total $ 41,327 $ 40,698 1. Joint ventures or associates in which the ownership interest is greater than 50% represent investments for which control is either shared or does not exist resulting in the investment being equity accounted. 2. The current and comparative period include a shareholder loan of $500 million receivable from our investment in associate in a U.S. gas pipeline business. 3. Carrying value of joint ventures in other equity accounted investments is $346 million (2019 – $383 million).
Schedule of investments in associates	The following tables presents the change in the balance of investments in associates and joint ventures: AS AT AND FOR THE YEAR ENDED DEC. 31 (MILLIONS) Oaktree Real Estate Infrastructure Private Equity Renewable Power and Other 2020 Total 2019 Total Balance, beginning of year $ 5,231 $ 22,314 $ 8,972 $ 2,596 $ 1,585 $ 40,698 $ 33,647 Additions, net of (disposals) 1 91 517 1,771 (49) 238 2,568 4,676 Acquisitions through business combinations — — — — — — 895 Share of net income (loss) 189 (933) 442 153 70 (79) 2,498 Distributions received (194) (726) (290) (75) (98) (1,383) (1,300) Share of other comprehensive income (loss) — (267) 165 25 31 (46) 317 Foreign currency translation and other — 119 (530) (27) 7 (431) (35) Balance, end of year $ 5,317 $ 21,024 $ 10,530 $ 2,623 $ 1,833 $ 41,327 $ 40,698 1. Includes assets sold, amounts reclassified to held for sale. Additions, net of disposals, of $2.6 billion during the year relate primarily to the acquisition of a $1.3 billion interest in BrandSafway in the first quarter of 2020, the acquisition of a $1.3 billion interest in Cheniere in the third quarter of 2020, and acquisitions within our real estate group. These acquisitions were partially offset by the reclassification of Norbord to held for sale as at December 31, 2020.
Disclosure of interests in joint ventures [Table Text Block]	The following table presents current and non-current assets, as well as current and non-current liabilities of the company’s investments in associates and joint ventures: 2020 2019 AS AT DEC. 31 (MILLIONS) Current Assets Non-Current Assets Current Liabilities Non-Current Liabilities Current Assets Non-Current Assets Current Liabilities Non-Current Liabilities Oaktree $ 2,253 $ 17,056 $ 2,146 $ 7,487 $ 1,497 $ 16,870 $ 1,172 $ 7,434 Real estate Associates LP investments and other 21 1,207 42 958 32 955 15 390 Joint ventures Core office 2,496 36,668 3,485 17,107 2,790 36,861 4,824 13,987 Core retail 1,230 33,082 673 13,721 992 35,726 615 14,334 LP investments and other 1,279 12,288 903 7,290 648 9,559 648 5,247 Infrastructure Associates Utilities 646 6,142 487 4,238 869 6,500 687 4,152 Transport 1,223 25,078 1,929 9,538 1,199 18,028 1,953 8,359 Data 841 13,308 1,263 6,081 912 11,636 1,042 4,908 Other 34 356 32 143 21 374 27 133 Joint ventures Midstream 161 6,157 230 3,945 154 5,455 249 3,927 Other 43 685 30 299 35 299 6 93 Private equity Associates Norbord — — — — 462 3,911 260 1,355 Industrial operations 1,096 736 505 222 1,038 743 485 256 Other 2,077 9,303 1,357 6,697 793 2,362 697 1,562 Renewable power and other Renewable power associates 1,355 7,492 635 3,307 539 5,967 535 2,530 Other equity accounted investments 210 790 67 178 1,022 — 118 113 $ 14,965 $ 170,348 $ 13,784 $ 81,211 $ 13,003 $ 155,246 $ 13,333 $ 68,780 Certain of the company’s investments in associates are subject to restrictions on the extent to which they can remit funds to the company in the form of cash dividends or repay loans and advances as a result of borrowing arrangements, regulatory restrictions, and other contractual requirements. The following table presents total revenues, net income and other comprehensive income (“OCI”) of the company’s investments in associates and joint ventures: 2020 2019 FOR THE YEARS ENDED DEC. 31 (MILLIONS) Revenue Net Income OCI Revenue Net Income OCI Oaktree $ 1,104 $ 158 $ (2) $ 295 $ 12 $ (6) Real estate Associates LP investments and other 99 (145) (941) 423 127 50 Joint ventures Core office 1,866 311 (113) 2,386 1,869 (105) Core retail 1,944 (1,471) — 2,430 2,114 — LP investments and other 945 (376) 5 714 23 — Infrastructure Associates Utilities 1,715 364 (205) 1,046 354 26 Transport 4,054 169 (1,451) 3,277 3 363 Data 2,245 293 374 1,447 (38) 57 Other 41 (23) (245) 55 (45) (210) Joint ventures Midstream 736 244 — 696 358 — Other 107 2 33 74 19 — Private equity Associates Norbord 2,407 386 12 1,731 (165) 13 Industrial operations 2,713 132 — 1,770 122 — Other 4,332 (130) 48 1,007 247 26 Renewable power and other Renewable power associates 737 219 174 431 88 242 Other equity accounted investments 192 56 (2) 400 104 1 $ 25,237 $ 189 $ (2,313) $ 18,182 $ 5,192 $ 457
Schedule of fair value of equity accounted investments	The fair value of the most significant listed entity, Norbord as at December 31, 2020, based on the publicly listed price in comparison to the company’s carrying value is $nil (2019 – $0.9 billion) and $nil (2019 – $1.2 billion)

INVESTMENT PROPERTIES (Tables)

INVESTMENT PROPERTIES (Tables)	12 Months Ended
INVESTMENT PROPERTIES (Tables)	Dec. 31, 2020
Investment property [abstract]
Disclosure of fair value measurement of assets [text block]	The following table categorizes financial assets and liabilities, which are carried at fair value, based upon the fair value hierarchy levels: 2020 2019 AS AT DEC. 31 (MILLIONS) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Financial assets Other financial assets Government bonds $ 7 $ 2,644 $ — $ — $ 2,403 $ — Corporate bonds 192 2,764 286 — 2,682 275 Fixed income securities and other 867 912 491 419 851 480 Common shares and warrants 4,548 577 1,389 1,966 421 802 Loans and notes receivables — 42 68 — 51 4 Accounts receivable and other 50 1,581 135 1 1,737 219 $ 5,664 $ 8,520 $ 2,369 $ 2,386 $ 8,145 $ 1,780 Financial liabilities Accounts payable and other $ 75 $ 5,090 $ 724 $ 93 $ 3,749 $ 686 Subsidiary equity obligations — 77 1,380 — 40 1,856 $ 75 $ 5,167 $ 2,104 $ 93 $ 3,789 $ 2,542 The following table presents our investment properties measured at fair value: AS AT DEC. 31 (MILLIONS) 2020 2019 Core office United States $ 15,093 $ 15,748 Canada 5,102 4,806 Australia 2,731 2,300 Europe 2,699 2,867 Brazil 309 361 Core retail 20,324 21,561 LP investments and other LP investments office 8,727 8,756 LP investments retail 2,538 2,812 Logistics — 94 Multifamily 2,442 2,937 Triple net lease 3,719 4,508 Self-storage — 1,007 Student housing 2,962 2,605 Manufactured housing 2,784 2,446 Mixed-use 3,096 2,703 Directly held real estate properties 22,350 19,814 Other investment properties 1,906 1,361 $ 96,782 $ 96,686
Disclosure of significant unobservable inputs used in fair value measurement of assets [text block]	The following table summarizes the valuation techniques and significant unobservable inputs used in the fair value measurement of Level 3 financial instruments: (MILLIONS) Type of Asset/Liability Carrying Value Dec. 31, 2020 Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Fixed income securities and other $ 491 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Corporate bonds 286 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Common shares and warrants 1,389 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Black-Scholes model • Volatility • Increases (decreases) in volatility increase (decreases) fair value • Term to maturity • Increases (decreases) in term to maturity increase (decrease) fair value Limited-life funds (subsidiary equity obligations) (1,380) Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value Derivative assets/Derivative liabilities (accounts receivable/payable) 135 / Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value (724) • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Timber / agricultural prices • Increases (decreases) in price increase (decrease) fair value • Increases (decreases) in price tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from price • Discount rate /terminal capitalization rate • Increases (decreases) in discount rate or terminal capitalization rate decrease (increase) fair value • Decreases (increases) in discount rates or terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from rates • Exit Date • Increases (decreases) in exit date decrease (increase) fair value • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year Significant unobservable inputs (Level 3) are utilized when determining the fair value of investment properties. The significant Level 3 inputs include: Valuation Technique Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis 1 • Future cash flows – primarily driven by net operating income • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from terminal capitalization rates • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value • Increases (decreases) in the investment horizon tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year 1. Certain investment properties are valued using the direct capitalization method instead of a discounted cash flow model. Under the direct capitalization method, a capitalization rate is applied to estimated current year cash flows. The following table summarizes the key valuation metrics of the company’s investment properties: 2020 2019 AS AT DEC. 31 Discount Terminal Investment Discount Rate Terminal Capitalization Rate Investment Horizon (years) Core office United States 6.9 % 5.6 % 12 7.0 % 5.6 % 12 Canada 5.9 % 5.2 % 10 5.9 % 5.2 % 10 Australia 6.6 % 5.7 % 10 6.8 % 5.9 % 10 Europe 5.2 % 3.8 % 10 4.6 % 4.1 % 11 Brazil 7.6 % 7.0 % 10 7.9 % 7.4 % 10 Core retail 7.0 % 5.3 % 10 6.7 % 5.4 % 10 LP investments and other LP investments office 9.7 % 7.2 % 7 10.0 % 7.3 % 7 LP investments retail 8.7 % 7.0 % 10 8.8 % 7.3 % 10 Mixed-use 7.3 % 5.2 % 10 7.6 % 5.4 % 10 Logistics 1 — % n/a n/a 5.8 % n/a n/a Multifamily 1 4.9 % n/a n/a 5.1 % n/a n/a Triple net lease 1 6.2 % n/a n/a 6.3 % n/a n/a Self-storage 1 — % n/a n/a 5.6 % n/a n/a Student housing 1 4.9 % n/a n/a 5.8 % n/a n/a Manufactured housing 1 4.8 % n/a n/a 5.5 % n/a n/a Directly held real estate properties 2 5.1 – 9.3% 5.4 % 19 5.2 – 9.2% 6.1 % 19 Other investment properties 1,3 5.0 – 8.7% n/a n/a 8.9 % n/a n/a 1. Logistics, multifamily, triple net lease, self-storage, student housing, manufactured housing and other investment properties are valued using the direct capitalization method. The rates presented as the discount rate represent the overall implied capitalization rate. The terminal capitalization rate and the investment horizon are not applicable. 2. We use either the discounted cash flow or the direct capitalization method when valuing our directly held real estate properties. The rates presented as the discount rate represent the overall implied capitalization rates for investment properties that are valued using the direct capitalization approach. Key valuation metrics of the company’s hydroelectric, wind and solar generating facilities at the end of 2020 and 2019 are summarized below. North America Brazil Colombia Europe AS AT DEC. 31 2020 2019 2020 2019 2020 2019 2020 2019 Discount rate Contracted 4.1 – 4.5% 4.6 – 4.9% 7.3 % 8.2 % 8.1 % 9.0 % 3.0 – 3.6% 3.5 – 4.0% Uncontracted 5.6 – 6.0% 6.1 – 6.4% 8.6 % 9.5 % 9.4 % 10.3 % 3.6 – 4.7% 4.0 – 5.3% Terminal capitalization rate 1 5.8 – 6.2% 6.2 – 6.7% n/a n/a 8.9 % 9.8 % n/a n/a Exit date 2041 2040 2048 2047 2040 2039 2035 2035 1. Terminal capitalization rate applies only to hydroelectric assets in North America and Colombia. Key valuation metrics of the company’s utilities, transport, midstream, data and sustainable resources assets at the end of 2020 and 2019 are summarized below. Utilities Transport Midstream Sustainable Resources AS AT DEC. 31 2020 2019 2020 2019 2020 2019 2020 2019 Discount rates 7 – 14% 7 – 14% 7 – 13% 7 – 13% 15 % 15 % 6% 5 – 10% Terminal capitalization multiples 7x – 23x 8x – 21x 9x – 14x 9x – 14x 10x 10x 6x 5x – 10x Investment horizon/Exit date (years) 10 10 – 20 10 10 – 20 5 – 10 5 – 10 10 3 – 21 Valuation Technique Significant Unobservable Input(s) Relationship of Unobservable Input(s) to Fair Value Mitigating Factor(s) Discounted cash flow models • Future cash flows • Increases (decreases) in future cash flows increase (decrease) the recoverable amount • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in recoverable amounts from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) the recoverable amount • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) the recoverable amount • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from terminal capitalization rates • Exit date • Increases (decreases) in the exit date decrease (increase) the recoverable amount • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year The recoverable amounts used in goodwill impairment testing are calculated using discounted cash flow models based on the following significant unobservable inputs: Valuation Technique Significant Unobservable Input(s) Relationship of Unobservable Input(s) to Fair Value Mitigating Factor(s) Discounted cash flow models • Future cash flows • Increases (decreases) in future cash flows increase (decrease) the recoverable amount • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in recoverable amounts from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) the recoverable amount • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from discount rates • Terminal capitalization rate/multiple • Increases (decreases) in terminal capitalization rate/multiple decrease (increase) the recoverable amount • Increases (decreases) in terminal capitalization rates/multiple tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from terminal capitalization rates • Exit date/terminal year of cash flows • Increases (decreases) in the exit date/terminal year of cash flows decrease (increase) the recoverable amount • Increases (decreases) in the exit date/terminal year of cash flows tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year
Disclosure of detailed information about investment property	The following table presents the change in the fair value of the company’s investment properties: AS AT AND FOR THE YEAR ENDED DEC. 31 (MILLIONS) 2020 2019 Fair value, beginning of year $ 96,686 $ 84,309 Additions 8,180 11,638 Acquisitions through business combinations — 3,669 Changes in basis of accounting 1 193 928 Dispositions 2 (9,284) (6,029) Fair value changes (269) 1,710 Foreign currency translation and other 1,276 461 Fair value, end of year 3 $ 96,782 $ 96,686 1. 2019 balance includes the company’s adoption of IFRS 16 resulted in the recognition of ROU investment properties that were previously off-balance sheet items. 2. Includes amounts reclassified to held for sale. 3. As at December 31, 2020, the ending balance includes $90.4 billion (2019 – $88.5 billion) of investment properties leased to third parties. Also includes $3.3 billion of ROU investment properties (December 31, 2019 – $2.6 billion).

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	12 Months Ended
PROPERTY, PLANT AND EQUIPMENT (Tables)	Dec. 31, 2020
Property, plant and equipment [abstract]
Disclosure of significant unobservable inputs used in fair value measurement of assets [text block]	The following table summarizes the valuation techniques and significant unobservable inputs used in the fair value measurement of Level 3 financial instruments: (MILLIONS) Type of Asset/Liability Carrying Value Dec. 31, 2020 Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Fixed income securities and other $ 491 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Corporate bonds 286 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Common shares and warrants 1,389 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Black-Scholes model • Volatility • Increases (decreases) in volatility increase (decreases) fair value • Term to maturity • Increases (decreases) in term to maturity increase (decrease) fair value Limited-life funds (subsidiary equity obligations) (1,380) Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value Derivative assets/Derivative liabilities (accounts receivable/payable) 135 / Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value (724) • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Timber / agricultural prices • Increases (decreases) in price increase (decrease) fair value • Increases (decreases) in price tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from price • Discount rate /terminal capitalization rate • Increases (decreases) in discount rate or terminal capitalization rate decrease (increase) fair value • Decreases (increases) in discount rates or terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from rates • Exit Date • Increases (decreases) in exit date decrease (increase) fair value • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year Significant unobservable inputs (Level 3) are utilized when determining the fair value of investment properties. The significant Level 3 inputs include: Valuation Technique Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis 1 • Future cash flows – primarily driven by net operating income • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from terminal capitalization rates • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value • Increases (decreases) in the investment horizon tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year 1. Certain investment properties are valued using the direct capitalization method instead of a discounted cash flow model. Under the direct capitalization method, a capitalization rate is applied to estimated current year cash flows. The following table summarizes the key valuation metrics of the company’s investment properties: 2020 2019 AS AT DEC. 31 Discount Terminal Investment Discount Rate Terminal Capitalization Rate Investment Horizon (years) Core office United States 6.9 % 5.6 % 12 7.0 % 5.6 % 12 Canada 5.9 % 5.2 % 10 5.9 % 5.2 % 10 Australia 6.6 % 5.7 % 10 6.8 % 5.9 % 10 Europe 5.2 % 3.8 % 10 4.6 % 4.1 % 11 Brazil 7.6 % 7.0 % 10 7.9 % 7.4 % 10 Core retail 7.0 % 5.3 % 10 6.7 % 5.4 % 10 LP investments and other LP investments office 9.7 % 7.2 % 7 10.0 % 7.3 % 7 LP investments retail 8.7 % 7.0 % 10 8.8 % 7.3 % 10 Mixed-use 7.3 % 5.2 % 10 7.6 % 5.4 % 10 Logistics 1 — % n/a n/a 5.8 % n/a n/a Multifamily 1 4.9 % n/a n/a 5.1 % n/a n/a Triple net lease 1 6.2 % n/a n/a 6.3 % n/a n/a Self-storage 1 — % n/a n/a 5.6 % n/a n/a Student housing 1 4.9 % n/a n/a 5.8 % n/a n/a Manufactured housing 1 4.8 % n/a n/a 5.5 % n/a n/a Directly held real estate properties 2 5.1 – 9.3% 5.4 % 19 5.2 – 9.2% 6.1 % 19 Other investment properties 1,3 5.0 – 8.7% n/a n/a 8.9 % n/a n/a 1. Logistics, multifamily, triple net lease, self-storage, student housing, manufactured housing and other investment properties are valued using the direct capitalization method. The rates presented as the discount rate represent the overall implied capitalization rate. The terminal capitalization rate and the investment horizon are not applicable. 2. We use either the discounted cash flow or the direct capitalization method when valuing our directly held real estate properties. The rates presented as the discount rate represent the overall implied capitalization rates for investment properties that are valued using the direct capitalization approach. Key valuation metrics of the company’s hydroelectric, wind and solar generating facilities at the end of 2020 and 2019 are summarized below. North America Brazil Colombia Europe AS AT DEC. 31 2020 2019 2020 2019 2020 2019 2020 2019 Discount rate Contracted 4.1 – 4.5% 4.6 – 4.9% 7.3 % 8.2 % 8.1 % 9.0 % 3.0 – 3.6% 3.5 – 4.0% Uncontracted 5.6 – 6.0% 6.1 – 6.4% 8.6 % 9.5 % 9.4 % 10.3 % 3.6 – 4.7% 4.0 – 5.3% Terminal capitalization rate 1 5.8 – 6.2% 6.2 – 6.7% n/a n/a 8.9 % 9.8 % n/a n/a Exit date 2041 2040 2048 2047 2040 2039 2035 2035 1. Terminal capitalization rate applies only to hydroelectric assets in North America and Colombia. Key valuation metrics of the company’s utilities, transport, midstream, data and sustainable resources assets at the end of 2020 and 2019 are summarized below. Utilities Transport Midstream Sustainable Resources AS AT DEC. 31 2020 2019 2020 2019 2020 2019 2020 2019 Discount rates 7 – 14% 7 – 14% 7 – 13% 7 – 13% 15 % 15 % 6% 5 – 10% Terminal capitalization multiples 7x – 23x 8x – 21x 9x – 14x 9x – 14x 10x 10x 6x 5x – 10x Investment horizon/Exit date (years) 10 10 – 20 10 10 – 20 5 – 10 5 – 10 10 3 – 21 Valuation Technique Significant Unobservable Input(s) Relationship of Unobservable Input(s) to Fair Value Mitigating Factor(s) Discounted cash flow models • Future cash flows • Increases (decreases) in future cash flows increase (decrease) the recoverable amount • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in recoverable amounts from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) the recoverable amount • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) the recoverable amount • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from terminal capitalization rates • Exit date • Increases (decreases) in the exit date decrease (increase) the recoverable amount • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year The recoverable amounts used in goodwill impairment testing are calculated using discounted cash flow models based on the following significant unobservable inputs: Valuation Technique Significant Unobservable Input(s) Relationship of Unobservable Input(s) to Fair Value Mitigating Factor(s) Discounted cash flow models • Future cash flows • Increases (decreases) in future cash flows increase (decrease) the recoverable amount • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in recoverable amounts from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) the recoverable amount • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from discount rates • Terminal capitalization rate/multiple • Increases (decreases) in terminal capitalization rate/multiple decrease (increase) the recoverable amount • Increases (decreases) in terminal capitalization rates/multiple tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from terminal capitalization rates • Exit date/terminal year of cash flows • Increases (decreases) in the exit date/terminal year of cash flows decrease (increase) the recoverable amount • Increases (decreases) in the exit date/terminal year of cash flows tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year
Disclosure of Power Generating Assets [Table Text Block]	Key assumptions on contracted generation and future power pricing are summarized below: Total Generation Contracted under Power Purchase Agreements Power Prices from Long-Term Power Purchase Agreements (weighted average) Estimates of Future Electricity Prices (weighted average) AS AT DEC. 31, 2020 (MILLIONS) 1 – 10 years 11 – 20 years 1 – 10 years 11 – 20 years 1 – 10 years 11 – 20 years North America (prices in US$/MWh) 43 % 13 % 96 90 65 117 Brazil (prices in R$/MWh) 70 % 30 % 306 396 245 328 Colombia (prices in COP$/MWh) 27 % — % 220,000 N/A 265,000 384,000 Europe (prices in €/MWh) 87 % 56 % 167 255 68 54
Disclosure of detailed information about property, plant and equipment	The company’s property, plant and equipment relates to the operating segments as shown below: Renewable Power (a) Infrastructure (b) Real Estate (c) Private Equity and Other (d) Total AS AT DEC. 31 (MILLIONS) 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 Costs $ 28,838 $ 27,820 $ 31,212 $ 22,454 $ 9,251 $ 9,890 $ 18,770 $ 17,269 $ 88,071 $ 77,433 Accumulated fair value changes 24,238 20,465 4,626 3,777 393 1,366 (873) (643) 28,384 24,965 Accumulated depreciation (7,870) (6,690) (3,671) (2,459) (1,212) (1,527) (3,693) (2,458) (16,446) (13,134) Total 1 $ 45,206 $ 41,595 $ 32,167 $ 23,772 $ 8,432 $ 9,729 $ 14,204 $ 14,168 $ 100,009 $ 89,264 1. As at December 31, 2020, the total includes $3.9 billion (December 31, 2019 – $3.7 billion) of property, plant and equipment leased to third parties as operating leases. Our ROU PP&E assets include $4.1 billion (December 31, 2019 – $2.2 billion) in our Infrastructure segment, $856 million (December 31, 2019 – $796 million) in our Real Estate segment, $393 million (December 31, 2019 – $1.1 billion) in our Renewable Power segment and $1.3 billion (December 31, 2019 – $1.3 billion) in Private Equity and other segments, totaling $6.7 billion (December 31, 2019 – $5.4 billion) of ROU assets. a) Renewable Power Our renewable power property, plant and equipment consists of the following: Hydroelectric Wind Solar and Other Total AS AT AND FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 2020 2019 2020 2019 2020 2019 Cost, beginning of year $ 14,074 $ 13,843 $ 8,459 $ 7,968 $ 5,287 $ 4,297 $ 27,820 $ 26,108 Changes in basis of accounting — 83 — 321 — 3 — 407 Additions, net of disposals and assets reclassified as held for sale 425 162 (9) (342) 284 280 700 100 Acquisitions through business combinations — — — 566 661 742 661 1,308 Foreign currency translation (600) (14) (52) (54) 309 (35) (343) (103) Cost, end of year 13,899 14,074 8,398 8,459 6,541 5,287 28,838 27,820 Accumulated fair value changes, beginning of year 16,927 15,416 2,588 2,079 950 765 20,465 18,260 Fair value changes 3,221 1,369 402 669 530 195 4,153 2,233 Dispositions and assets reclassified as held for sale — — — (126) — (35) — (161) Foreign currency translation (283) 142 (82) (34) (15) 25 (380) 133 Accumulated fair value changes, end of year 19,865 16,927 2,908 2,588 1,465 950 24,238 20,465 Accumulated depreciation, beginning of year (4,412) (3,879) (1,781) (1,358) (497) (260) (6,690) (5,497) Depreciation expenses (517) (532) (546) (502) (302) (245) (1,365) (1,279) Dispositions and assets reclassified as held for sale 17 7 25 101 9 9 51 117 Foreign currency translation 181 (8) 9 (22) (56) (1) 134 (31) Accumulated depreciation, end of year (4,731) (4,412) (2,293) (1,781) (846) (497) (7,870) (6,690) Balance, end of year $ 29,033 $ 26,589 $ 9,013 $ 9,266 $ 7,160 $ 5,740 $ 45,206 $ 41,595 The following table presents our renewable power property, plant and equipment measured at fair value by geography: AS AT DEC. 31 (MILLIONS) 2020 2019 North America $ 28,044 $ 25,617 Colombia 8,150 7,353 Europe 4,912 3,770 Brazil 3,005 3,575 Other 1 1,095 1,280 $ 45,206 $ 41,595 1. Other refers primarily to China, India and Chile in both 2020 and 2019. c) Real Estate Cost Accumulated Fair Value Changes Accumulated Depreciation Total AS AT AND FOR THE YEAR ENDED DEC. 31 (MILLIONS) 2020 2019 2020 2019 2020 2019 2020 2019 Balance, beginning of year $ 9,890 $ 7,713 $ 1,366 $ 1,045 $ (1,527) $ (1,106) $ 9,729 $ 7,652 Changes in basis of accounting (1,895) 769 (681) — 786 — (1,790) 769 Additions/(dispositions) 1 , net of assets reclassified as held for sale 1,023 514 (135) (2) 27 37 915 549 Acquisitions through business combinations — 785 — — — — — 785 Foreign currency translation 233 109 2 — (41) (15) 194 94 Fair value changes — — (159) 323 — — (159) 323 Depreciation expenses — — — — (457) (443) (457) (443) Balance, end of year $ 9,251 $ 9,890 $ 393 $ 1,366 $ (1,212) $ (1,527) $ 8,432 $ 9,729 1. For accumulated depreciation, (additions)/dispositions. Cost Accumulated Impairment Accumulated Depreciation Total AS AT AND FOR THE YEAR ENDED DEC. 31 (MILLIONS) 2020 2019 2020 2019 2020 2019 2020 2019 Balance, beginning of year $ 17,269 $ 9,027 $ (643) $ (434) $ (2,458) $ (1,472) $ 14,168 $ 7,121 Changes in basis of accounting — 1,032 — — — — — 1,032 Additions/(dispositions) 1 , net of assets reclassified as held for sale 874 477 57 — 290 332 1,221 809 Acquisitions through business combinations 84 6,650 — — — — 84 6,650 Foreign currency translation 543 83 (3) (13) (61) (44) 479 26 Depreciation expenses — — — — (1,464) (1,274) (1,464) (1,274) Impairment charges — — (284) (196) — — (284) (196) Balance, end of year $ 18,770 $ 17,269 $ (873) $ (643) $ (3,693) $ (2,458) $ 14,204 $ 14,168 1. For accumulated depreciation, (additions)/dispositions.

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	12 Months Ended
INTANGIBLE ASSETS (Tables)	Dec. 31, 2020
Intangible assets other than goodwill [abstract]
Schedule of detailed information about intangible assets	The following table presents the breakdown of, and changes to, the balance of the company’s intangible assets: Cost Accumulated Amortization and Impairment Total AS AT AND FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 2020 2019 2020 2019 Balance, beginning of year $ 30,232 $ 20,304 $ (2,522) $ (1,542) $ 27,710 $ 18,762 Additions 452 445 — — 452 445 Disposals 1 (2,246) (499) 307 132 (1,939) (367) Acquisitions through business combinations 625 10,333 — — 625 10,333 Amortization — — (1,310) (1,141) (1,310) (1,141) PPA adjustments 78 — 7 — 85 — Foreign currency translation (1,195) (351) 230 29 (965) (322) Balance, end of year $ 27,946 $ 30,232 $ (3,288) $ (2,522) $ 24,658 $ 27,710 1. Include assets sold and amounts reclassified to held for sale. Intangible assets are allocated to the following operating segments: AS AT DEC. 31 (MILLIONS) Note 2020 2019 Infrastructure (a) $ 11,769 $ 14,388 Private equity (b) 11,261 11,650 Real estate (c) 1,177 1,301 Renewable power and other 451 371 $ 24,658 $ 27,710
Disclosure of significant unobservable inputs used in fair value measurement of assets [text block]	The following table summarizes the valuation techniques and significant unobservable inputs used in the fair value measurement of Level 3 financial instruments: (MILLIONS) Type of Asset/Liability Carrying Value Dec. 31, 2020 Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Fixed income securities and other $ 491 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Corporate bonds 286 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Common shares and warrants 1,389 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Black-Scholes model • Volatility • Increases (decreases) in volatility increase (decreases) fair value • Term to maturity • Increases (decreases) in term to maturity increase (decrease) fair value Limited-life funds (subsidiary equity obligations) (1,380) Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value Derivative assets/Derivative liabilities (accounts receivable/payable) 135 / Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value (724) • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Timber / agricultural prices • Increases (decreases) in price increase (decrease) fair value • Increases (decreases) in price tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from price • Discount rate /terminal capitalization rate • Increases (decreases) in discount rate or terminal capitalization rate decrease (increase) fair value • Decreases (increases) in discount rates or terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from rates • Exit Date • Increases (decreases) in exit date decrease (increase) fair value • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year Significant unobservable inputs (Level 3) are utilized when determining the fair value of investment properties. The significant Level 3 inputs include: Valuation Technique Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis 1 • Future cash flows – primarily driven by net operating income • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from terminal capitalization rates • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value • Increases (decreases) in the investment horizon tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year 1. Certain investment properties are valued using the direct capitalization method instead of a discounted cash flow model. Under the direct capitalization method, a capitalization rate is applied to estimated current year cash flows. The following table summarizes the key valuation metrics of the company’s investment properties: 2020 2019 AS AT DEC. 31 Discount Terminal Investment Discount Rate Terminal Capitalization Rate Investment Horizon (years) Core office United States 6.9 % 5.6 % 12 7.0 % 5.6 % 12 Canada 5.9 % 5.2 % 10 5.9 % 5.2 % 10 Australia 6.6 % 5.7 % 10 6.8 % 5.9 % 10 Europe 5.2 % 3.8 % 10 4.6 % 4.1 % 11 Brazil 7.6 % 7.0 % 10 7.9 % 7.4 % 10 Core retail 7.0 % 5.3 % 10 6.7 % 5.4 % 10 LP investments and other LP investments office 9.7 % 7.2 % 7 10.0 % 7.3 % 7 LP investments retail 8.7 % 7.0 % 10 8.8 % 7.3 % 10 Mixed-use 7.3 % 5.2 % 10 7.6 % 5.4 % 10 Logistics 1 — % n/a n/a 5.8 % n/a n/a Multifamily 1 4.9 % n/a n/a 5.1 % n/a n/a Triple net lease 1 6.2 % n/a n/a 6.3 % n/a n/a Self-storage 1 — % n/a n/a 5.6 % n/a n/a Student housing 1 4.9 % n/a n/a 5.8 % n/a n/a Manufactured housing 1 4.8 % n/a n/a 5.5 % n/a n/a Directly held real estate properties 2 5.1 – 9.3% 5.4 % 19 5.2 – 9.2% 6.1 % 19 Other investment properties 1,3 5.0 – 8.7% n/a n/a 8.9 % n/a n/a 1. Logistics, multifamily, triple net lease, self-storage, student housing, manufactured housing and other investment properties are valued using the direct capitalization method. The rates presented as the discount rate represent the overall implied capitalization rate. The terminal capitalization rate and the investment horizon are not applicable. 2. We use either the discounted cash flow or the direct capitalization method when valuing our directly held real estate properties. The rates presented as the discount rate represent the overall implied capitalization rates for investment properties that are valued using the direct capitalization approach. Key valuation metrics of the company’s hydroelectric, wind and solar generating facilities at the end of 2020 and 2019 are summarized below. North America Brazil Colombia Europe AS AT DEC. 31 2020 2019 2020 2019 2020 2019 2020 2019 Discount rate Contracted 4.1 – 4.5% 4.6 – 4.9% 7.3 % 8.2 % 8.1 % 9.0 % 3.0 – 3.6% 3.5 – 4.0% Uncontracted 5.6 – 6.0% 6.1 – 6.4% 8.6 % 9.5 % 9.4 % 10.3 % 3.6 – 4.7% 4.0 – 5.3% Terminal capitalization rate 1 5.8 – 6.2% 6.2 – 6.7% n/a n/a 8.9 % 9.8 % n/a n/a Exit date 2041 2040 2048 2047 2040 2039 2035 2035 1. Terminal capitalization rate applies only to hydroelectric assets in North America and Colombia. Key valuation metrics of the company’s utilities, transport, midstream, data and sustainable resources assets at the end of 2020 and 2019 are summarized below. Utilities Transport Midstream Sustainable Resources AS AT DEC. 31 2020 2019 2020 2019 2020 2019 2020 2019 Discount rates 7 – 14% 7 – 14% 7 – 13% 7 – 13% 15 % 15 % 6% 5 – 10% Terminal capitalization multiples 7x – 23x 8x – 21x 9x – 14x 9x – 14x 10x 10x 6x 5x – 10x Investment horizon/Exit date (years) 10 10 – 20 10 10 – 20 5 – 10 5 – 10 10 3 – 21 Valuation Technique Significant Unobservable Input(s) Relationship of Unobservable Input(s) to Fair Value Mitigating Factor(s) Discounted cash flow models • Future cash flows • Increases (decreases) in future cash flows increase (decrease) the recoverable amount • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in recoverable amounts from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) the recoverable amount • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) the recoverable amount • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from terminal capitalization rates • Exit date • Increases (decreases) in the exit date decrease (increase) the recoverable amount • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year The recoverable amounts used in goodwill impairment testing are calculated using discounted cash flow models based on the following significant unobservable inputs: Valuation Technique Significant Unobservable Input(s) Relationship of Unobservable Input(s) to Fair Value Mitigating Factor(s) Discounted cash flow models • Future cash flows • Increases (decreases) in future cash flows increase (decrease) the recoverable amount • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in recoverable amounts from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) the recoverable amount • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from discount rates • Terminal capitalization rate/multiple • Increases (decreases) in terminal capitalization rate/multiple decrease (increase) the recoverable amount • Increases (decreases) in terminal capitalization rates/multiple tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from terminal capitalization rates • Exit date/terminal year of cash flows • Increases (decreases) in the exit date/terminal year of cash flows decrease (increase) the recoverable amount • Increases (decreases) in the exit date/terminal year of cash flows tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year

GOODWILL (Tables)

GOODWILL (Tables)	12 Months Ended
GOODWILL (Tables)	Dec. 31, 2020
Goodwill [Abstract]
Disclosure of reconciliation of changes in goodwill	The following table presents the breakdown of, and changes to, the balance of goodwill: Cost Accumulated Impairment Total AS AT AND FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 2020 2019 2020 2019 Balance, beginning of year $ 15,412 $ 9,198 $ (862) $ (383) $ 14,550 $ 8,815 Acquisitions through business combinations 145 6,125 — — 145 6,125 Impairment losses — — (3) (453) (3) (453) Foreign currency translation and other 1 (18) 89 40 (26) 22 63 Balance, end of year $ 15,539 $ 15,412 $ (825) $ (862) $ 14,714 $ 14,550 1. Includes adjustment to goodwill based on final purchase price allocation.
Disclosure of significant unobservable inputs used in fair value measurement of assets [text block]	The following table summarizes the valuation techniques and significant unobservable inputs used in the fair value measurement of Level 3 financial instruments: (MILLIONS) Type of Asset/Liability Carrying Value Dec. 31, 2020 Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Fixed income securities and other $ 491 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Corporate bonds 286 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Common shares and warrants 1,389 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Black-Scholes model • Volatility • Increases (decreases) in volatility increase (decreases) fair value • Term to maturity • Increases (decreases) in term to maturity increase (decrease) fair value Limited-life funds (subsidiary equity obligations) (1,380) Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value Derivative assets/Derivative liabilities (accounts receivable/payable) 135 / Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value (724) • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Timber / agricultural prices • Increases (decreases) in price increase (decrease) fair value • Increases (decreases) in price tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from price • Discount rate /terminal capitalization rate • Increases (decreases) in discount rate or terminal capitalization rate decrease (increase) fair value • Decreases (increases) in discount rates or terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from rates • Exit Date • Increases (decreases) in exit date decrease (increase) fair value • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year Significant unobservable inputs (Level 3) are utilized when determining the fair value of investment properties. The significant Level 3 inputs include: Valuation Technique Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis 1 • Future cash flows – primarily driven by net operating income • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from terminal capitalization rates • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value • Increases (decreases) in the investment horizon tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year 1. Certain investment properties are valued using the direct capitalization method instead of a discounted cash flow model. Under the direct capitalization method, a capitalization rate is applied to estimated current year cash flows. The following table summarizes the key valuation metrics of the company’s investment properties: 2020 2019 AS AT DEC. 31 Discount Terminal Investment Discount Rate Terminal Capitalization Rate Investment Horizon (years) Core office United States 6.9 % 5.6 % 12 7.0 % 5.6 % 12 Canada 5.9 % 5.2 % 10 5.9 % 5.2 % 10 Australia 6.6 % 5.7 % 10 6.8 % 5.9 % 10 Europe 5.2 % 3.8 % 10 4.6 % 4.1 % 11 Brazil 7.6 % 7.0 % 10 7.9 % 7.4 % 10 Core retail 7.0 % 5.3 % 10 6.7 % 5.4 % 10 LP investments and other LP investments office 9.7 % 7.2 % 7 10.0 % 7.3 % 7 LP investments retail 8.7 % 7.0 % 10 8.8 % 7.3 % 10 Mixed-use 7.3 % 5.2 % 10 7.6 % 5.4 % 10 Logistics 1 — % n/a n/a 5.8 % n/a n/a Multifamily 1 4.9 % n/a n/a 5.1 % n/a n/a Triple net lease 1 6.2 % n/a n/a 6.3 % n/a n/a Self-storage 1 — % n/a n/a 5.6 % n/a n/a Student housing 1 4.9 % n/a n/a 5.8 % n/a n/a Manufactured housing 1 4.8 % n/a n/a 5.5 % n/a n/a Directly held real estate properties 2 5.1 – 9.3% 5.4 % 19 5.2 – 9.2% 6.1 % 19 Other investment properties 1,3 5.0 – 8.7% n/a n/a 8.9 % n/a n/a 1. Logistics, multifamily, triple net lease, self-storage, student housing, manufactured housing and other investment properties are valued using the direct capitalization method. The rates presented as the discount rate represent the overall implied capitalization rate. The terminal capitalization rate and the investment horizon are not applicable. 2. We use either the discounted cash flow or the direct capitalization method when valuing our directly held real estate properties. The rates presented as the discount rate represent the overall implied capitalization rates for investment properties that are valued using the direct capitalization approach. Key valuation metrics of the company’s hydroelectric, wind and solar generating facilities at the end of 2020 and 2019 are summarized below. North America Brazil Colombia Europe AS AT DEC. 31 2020 2019 2020 2019 2020 2019 2020 2019 Discount rate Contracted 4.1 – 4.5% 4.6 – 4.9% 7.3 % 8.2 % 8.1 % 9.0 % 3.0 – 3.6% 3.5 – 4.0% Uncontracted 5.6 – 6.0% 6.1 – 6.4% 8.6 % 9.5 % 9.4 % 10.3 % 3.6 – 4.7% 4.0 – 5.3% Terminal capitalization rate 1 5.8 – 6.2% 6.2 – 6.7% n/a n/a 8.9 % 9.8 % n/a n/a Exit date 2041 2040 2048 2047 2040 2039 2035 2035 1. Terminal capitalization rate applies only to hydroelectric assets in North America and Colombia. Key valuation metrics of the company’s utilities, transport, midstream, data and sustainable resources assets at the end of 2020 and 2019 are summarized below. Utilities Transport Midstream Sustainable Resources AS AT DEC. 31 2020 2019 2020 2019 2020 2019 2020 2019 Discount rates 7 – 14% 7 – 14% 7 – 13% 7 – 13% 15 % 15 % 6% 5 – 10% Terminal capitalization multiples 7x – 23x 8x – 21x 9x – 14x 9x – 14x 10x 10x 6x 5x – 10x Investment horizon/Exit date (years) 10 10 – 20 10 10 – 20 5 – 10 5 – 10 10 3 – 21 Valuation Technique Significant Unobservable Input(s) Relationship of Unobservable Input(s) to Fair Value Mitigating Factor(s) Discounted cash flow models • Future cash flows • Increases (decreases) in future cash flows increase (decrease) the recoverable amount • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in recoverable amounts from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) the recoverable amount • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) the recoverable amount • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from terminal capitalization rates • Exit date • Increases (decreases) in the exit date decrease (increase) the recoverable amount • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year The recoverable amounts used in goodwill impairment testing are calculated using discounted cash flow models based on the following significant unobservable inputs: Valuation Technique Significant Unobservable Input(s) Relationship of Unobservable Input(s) to Fair Value Mitigating Factor(s) Discounted cash flow models • Future cash flows • Increases (decreases) in future cash flows increase (decrease) the recoverable amount • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in recoverable amounts from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) the recoverable amount • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from discount rates • Terminal capitalization rate/multiple • Increases (decreases) in terminal capitalization rate/multiple decrease (increase) the recoverable amount • Increases (decreases) in terminal capitalization rates/multiple tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from terminal capitalization rates • Exit date/terminal year of cash flows • Increases (decreases) in the exit date/terminal year of cash flows decrease (increase) the recoverable amount • Increases (decreases) in the exit date/terminal year of cash flows tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year
Disclosure of detailed information about goodwill	Goodwill is allocated to the following operating segments: AS AT DEC. 31 (MILLIONS) Note 2020 2019 Infrastructure (a) $ 6,634 $ 6,553 Private equity (b) 5,244 5,218 Real estate (c) 1,404 1,357 Renewable power (d) 970 977 Asset management 368 328 Other 94 117 Total $ 14,714 $ 14,550

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
INCOME TAXES (Tables)	Dec. 31, 2020
Income Taxes [Abstract]
Schedule of components of income tax expense	The following table reconciles consolidated income taxes to current and deferred income taxes: FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 Current income tax expense $ (756) $ (970) Deferred income tax (expense) recovery (81) 475 Income tax expense $ (837) $ (495) iv. The major components of income tax expense/(recovery) for the years ended December 31, 2020 and 2019 are set out below: FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 Current income tax expense $ 756 $ 970 Deferred income tax expense / (recovery) Origination and reversal of temporary differences (103) 281 Expense / (recovery) arising from previously unrecognized tax assets 2 (647) Change of tax rates and new legislation 182 (109) Total deferred income tax expense / (recovery) 81 (475) Income tax expense $ 837 $ 495
Schedule of income tax rates	The company’s effective income tax rate is different from the company’s domestic statutory income tax rate due to the following differences set out below: FOR THE YEARS ENDED DEC. 31 2020 2019 Statutory income tax rate 26 % 26 % Increase (reduction) in rate resulting from: Change in tax rates and new legislation 12 (2) International operations subject to different tax rates 52 (7) Taxable income attributable to non-controlling interests (31) (4) Portion of gains subject to different tax rates (10) (1) Recognition of deferred tax assets (10) (9) Non-recognition of the benefit of current year’s tax losses 8 4 Other 7 1 Effective income tax rate 54 % 8 %
Schedule of deferred income tax assets and liabilities	Deferred income tax assets and liabilities as at December 31, 2020 and 2019 relate to the following: AS AT DEC. 31 (MILLIONS) 2020 2019 Non-capital losses (Canada) $ 916 $ 848 Capital losses (Canada) 48 80 Losses (U.S.) 3,338 3,102 Losses (International) 1,415 705 Difference in basis (18,292) (16,012) Total net deferred tax liabilities $ (12,575) $ (11,277)
Disclosure of unrecognized deferred tax assets	The following table details the expiry date, if applicable, of the unrecognized deferred tax assets: AS AT DEC. 31 (MILLIONS) 2020 2019 One year from reporting date $ 4 $ 22 Two years from reporting date 20 9 Three years from reporting date 20 14 After three years from reporting date 465 1,159 Do not expire 1,473 1,632 Total $ 1,982 $ 2,836
Schedule of components of income taxes in other comprehensive income	The components of the income taxes in other comprehensive income for the years ended December 31, 2020 and 2019 are set out below: FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 Revaluation of property, plant and equipment $ 1,214 $ 623 Financial contracts and power sale agreements (59) 6 Fair value through OCI securities 74 88 Foreign currency translation 37 (8) Revaluation of pension obligation (40) (6) Total deferred tax in other comprehensive income $ 1,226 $ 703

CORPORATE BORROWINGS (Tables)

CORPORATE BORROWINGS (Tables)	12 Months Ended
CORPORATE BORROWINGS (Tables)	Dec. 31, 2020
Disclosure of financial liabilities [abstract]
Disclosure of corporate borrowings	AS AT DEC. 31 (MILLIONS) Maturity Annual Rate Currency 2020 2019 Term debt Public – Canadian Mar. 1, 2021 5.30 % C$ $ — $ 269 Public – Canadian Mar. 31, 2023 4.54 % C$ 472 463 Public – Canadian Mar. 8, 2024 5.04 % C$ 393 385 Public – U.S. Apr. 1 , 2024 4.00 % US$ 749 749 Public – U.S. Jan. 15, 2025 4.00 % US$ 500 500 Public – Canadian Jan. 28, 2026 4.82 % C$ 675 664 Public – U.S. Jun. 2, 2026 4.25 % US$ 497 497 Public – Canadian Mar. 16, 2027 3.80 % C$ 393 385 Public – U.S. Jan. 25, 2028 3.90 % US$ 649 649 Public – U.S. Mar. 29, 2029 4.85 % US$ 999 998 Public – U.S. Apr. 15, 2030 4.35 % US$ 749 — Public – U.S. Mar. 1, 2033 7.38 % US$ 250 250 Public – Canadian Jun. 14, 2035 5.95 % C$ 331 325 Private – Japanese Dec. 1, 2038 1.42 % JPY 97 92 Public – U.S. Sep. 20, 2047 4.70 % US$ 902 902 Public – U.S. Apr. 15, 2050 3.45 % US$ 594 — Public – U.S. Mar. 30, 2051 3.50 % US$ 497 — Public – U.S. Oct. 16, 2080 4.63 % US$ 400 — 9,147 7,128 Deferred financing costs 1 (70) (45) Total $ 9,077 $ 7,083 1. Deferred financing costs are amortized to interest expense over the term of the borrowing using the effective interest method. AS AT DEC. 31 Note 2020 2019 Subsidiary borrowings (a) $ 10,768 $ 8,423 Property-specific borrowings (b) 128,556 127,869 Total $ 139,324 $ 136,292 Principal repayments on subsidiary borrowings due over the next five calendar years and thereafter are as follows: (MILLIONS) Real Estate Renewable Power Infrastructure Private Equity Residential Development Total 2021 $ 314 $ 3 $ — $ — $ — $ 317 2022 — — — — 38 38 2023 393 — — — 227 620 2024 1,974 — 1,681 310 26 3,991 2025 393 314 — — 394 1,101 Thereafter 314 1,826 1,492 — 1,100 4,732 Total Principal repayments 3,388 2,143 3,173 310 1,785 10,799 Deferred financing costs and other (10) (11) (15) — 5 (31) Total – Dec. 31, 2020 $ 3,378 $ 2,132 $ 3,158 $ 310 $ 1,790 $ 10,768 Total – Dec. 31, 2019 $ 2,024 $ 2,098 $ 2,470 $ — $ 1,831 $ 8,423 The current and non-current balances of subsidiary borrowings are as follows: AS AT DEC. 31 (MILLIONS) 2020 2019 Current $ 317 $ 17 Non-current 10,451 8,406 Total $ 10,768 $ 8,423 Subsidiary borrowings by currency include the following: AS AT DEC. 31 (MILLIONS) 2020 Local Currency 2019 Local Currency U.S. dollars $ 4,376 US$ 4,376 $ 5,162 US$ 5,162 Canadian dollars 6,254 C$ 7,963 3,078 C$ 3,998 Brazilian reais 138 Rs 715 183 Rs 737 Total $ 10,768 $ 8,423 Principal repayments on property-specific borrowings due over the next five calendar years and thereafter are as follows: (MILLIONS) Real Estate Renewable Power Infrastructure Private Equity Residential Development Total 2021 $ 16,583 $ 1,194 $ 1,595 $ 1,531 $ 67 $ 20,970 2022 10,654 1,190 894 1,313 25 14,076 2023 7,848 2,063 2,782 2,152 70 14,915 2024 11,279 886 2,583 2,051 325 17,124 2025 8,588 1,179 3,629 4,747 5 18,148 Thereafter 12,525 9,898 9,987 12,018 — 44,428 Total Principal repayments 67,477 16,410 21,470 23,812 492 129,661 Deferred financing costs and other (404) (57) (161) (479) (4) (1,105) Total – Dec. 31, 2020 $ 67,073 $ 16,353 $ 21,309 $ 23,333 $ 488 $ 128,556 Total – Dec. 31, 2019 $ 67,909 $ 15,787 $ 20,776 $ 23,105 $ 292 $ 127,869 The current and non-current balances of property-specific borrowings are as follows: AS AT DEC. 31 (MILLIONS) 2020 2019 Current $ 20,970 $ 15,696 Non-current 107,586 112,173 Total $ 128,556 $ 127,869 Property-specific borrowings by currency include the following: AS AT DEC. 31 (MILLIONS) 2020 Local Currency 2019 Local Currency U.S. dollars $ 78,223 US$ 78,223 $ 84,203 US$ 84,203 British pounds 10,341 £ 7,565 9,812 £ 7,401 Indian rupees 8,978 Rs 655,328 4,143 Rs 295,106 Canadian dollars 8,458 C$ 10,771 7,955 C$ 10,333 Euros 7,816 € 6,398 6,844 € 6,103 Australian dollars 4,799 A$ 6,237 4,815 A$ 6,861 Brazilian reais 3,487 R$ 18,147 3,969 R$ 15,998 Colombian pesos 2,141 COP$ 7,332,845 2,029 COP$ 6,671,818 Korean won 2,082 ₩ 2,268,301 1,959 ₩ 2,264,478 Chilean unidades de fomento 1,187 UF 29 1,099 UF 29 Other currencies 1,044 n/a n/a 1,041 n/a n/a Total $ 128,556 $ 127,869

ACCOUNTS PAYABLE AND OTHER (Tab

ACCOUNTS PAYABLE AND OTHER (Tables) - USD ($) $ in Millions	12 Months Ended
ACCOUNTS PAYABLE AND OTHER (Tables) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Subclassifications of assets, liabilities and equities [abstract]
Operating expense	$ 47,386	$ 52,728
Schedule of accounts payable and other liabilities	AS AT DEC. 31 (MILLIONS) 2020 2019 Accounts payable $ 9,543 $ 9,583 Provisions 5,065 4,104 Lease liabilities 8,223 5,494 Other liabilities 27,851 23,896 Total $ 50,682 $ 43,077
Disclosure of current and non-current accounts payable and other [Table Text Block]	The current and non-current balances of accounts payable, provisions and other liabilities are as follows: AS AT DEC. 31 (MILLIONS) 2020 2019 Current $ 25,857 $ 23,212 Non-current 24,825 19,865 Total $ 50,682 $ 43,077
Schedule of post-employment benefit plans	AS AT DEC. 31 (MILLIONS) 2020 2019 Plan assets $ 3,335 $ 3,029 Less accrued benefit obligation: Defined benefit pension plan (4,613) (3,995) Other post-employment benefits (185) (173) Net liability (1,463) (1,139) Less: net actuarial gains and other 11 13 Accrued benefit liability $ (1,452) $ (1,126)

NON-RECOURSE BORROWINGS (Tables

NON-RECOURSE BORROWINGS (Tables)	12 Months Ended
NON-RECOURSE BORROWINGS (Tables)	Dec. 31, 2020
Disclosure of financial liabilities [abstract]
Disclosure of detailed information about borrowings	AS AT DEC. 31 (MILLIONS) Maturity Annual Rate Currency 2020 2019 Term debt Public – Canadian Mar. 1, 2021 5.30 % C$ $ — $ 269 Public – Canadian Mar. 31, 2023 4.54 % C$ 472 463 Public – Canadian Mar. 8, 2024 5.04 % C$ 393 385 Public – U.S. Apr. 1 , 2024 4.00 % US$ 749 749 Public – U.S. Jan. 15, 2025 4.00 % US$ 500 500 Public – Canadian Jan. 28, 2026 4.82 % C$ 675 664 Public – U.S. Jun. 2, 2026 4.25 % US$ 497 497 Public – Canadian Mar. 16, 2027 3.80 % C$ 393 385 Public – U.S. Jan. 25, 2028 3.90 % US$ 649 649 Public – U.S. Mar. 29, 2029 4.85 % US$ 999 998 Public – U.S. Apr. 15, 2030 4.35 % US$ 749 — Public – U.S. Mar. 1, 2033 7.38 % US$ 250 250 Public – Canadian Jun. 14, 2035 5.95 % C$ 331 325 Private – Japanese Dec. 1, 2038 1.42 % JPY 97 92 Public – U.S. Sep. 20, 2047 4.70 % US$ 902 902 Public – U.S. Apr. 15, 2050 3.45 % US$ 594 — Public – U.S. Mar. 30, 2051 3.50 % US$ 497 — Public – U.S. Oct. 16, 2080 4.63 % US$ 400 — 9,147 7,128 Deferred financing costs 1 (70) (45) Total $ 9,077 $ 7,083 1. Deferred financing costs are amortized to interest expense over the term of the borrowing using the effective interest method. AS AT DEC. 31 Note 2020 2019 Subsidiary borrowings (a) $ 10,768 $ 8,423 Property-specific borrowings (b) 128,556 127,869 Total $ 139,324 $ 136,292 Principal repayments on subsidiary borrowings due over the next five calendar years and thereafter are as follows: (MILLIONS) Real Estate Renewable Power Infrastructure Private Equity Residential Development Total 2021 $ 314 $ 3 $ — $ — $ — $ 317 2022 — — — — 38 38 2023 393 — — — 227 620 2024 1,974 — 1,681 310 26 3,991 2025 393 314 — — 394 1,101 Thereafter 314 1,826 1,492 — 1,100 4,732 Total Principal repayments 3,388 2,143 3,173 310 1,785 10,799 Deferred financing costs and other (10) (11) (15) — 5 (31) Total – Dec. 31, 2020 $ 3,378 $ 2,132 $ 3,158 $ 310 $ 1,790 $ 10,768 Total – Dec. 31, 2019 $ 2,024 $ 2,098 $ 2,470 $ — $ 1,831 $ 8,423 The current and non-current balances of subsidiary borrowings are as follows: AS AT DEC. 31 (MILLIONS) 2020 2019 Current $ 317 $ 17 Non-current 10,451 8,406 Total $ 10,768 $ 8,423 Subsidiary borrowings by currency include the following: AS AT DEC. 31 (MILLIONS) 2020 Local Currency 2019 Local Currency U.S. dollars $ 4,376 US$ 4,376 $ 5,162 US$ 5,162 Canadian dollars 6,254 C$ 7,963 3,078 C$ 3,998 Brazilian reais 138 Rs 715 183 Rs 737 Total $ 10,768 $ 8,423 Principal repayments on property-specific borrowings due over the next five calendar years and thereafter are as follows: (MILLIONS) Real Estate Renewable Power Infrastructure Private Equity Residential Development Total 2021 $ 16,583 $ 1,194 $ 1,595 $ 1,531 $ 67 $ 20,970 2022 10,654 1,190 894 1,313 25 14,076 2023 7,848 2,063 2,782 2,152 70 14,915 2024 11,279 886 2,583 2,051 325 17,124 2025 8,588 1,179 3,629 4,747 5 18,148 Thereafter 12,525 9,898 9,987 12,018 — 44,428 Total Principal repayments 67,477 16,410 21,470 23,812 492 129,661 Deferred financing costs and other (404) (57) (161) (479) (4) (1,105) Total – Dec. 31, 2020 $ 67,073 $ 16,353 $ 21,309 $ 23,333 $ 488 $ 128,556 Total – Dec. 31, 2019 $ 67,909 $ 15,787 $ 20,776 $ 23,105 $ 292 $ 127,869 The current and non-current balances of property-specific borrowings are as follows: AS AT DEC. 31 (MILLIONS) 2020 2019 Current $ 20,970 $ 15,696 Non-current 107,586 112,173 Total $ 128,556 $ 127,869 Property-specific borrowings by currency include the following: AS AT DEC. 31 (MILLIONS) 2020 Local Currency 2019 Local Currency U.S. dollars $ 78,223 US$ 78,223 $ 84,203 US$ 84,203 British pounds 10,341 £ 7,565 9,812 £ 7,401 Indian rupees 8,978 Rs 655,328 4,143 Rs 295,106 Canadian dollars 8,458 C$ 10,771 7,955 C$ 10,333 Euros 7,816 € 6,398 6,844 € 6,103 Australian dollars 4,799 A$ 6,237 4,815 A$ 6,861 Brazilian reais 3,487 R$ 18,147 3,969 R$ 15,998 Colombian pesos 2,141 COP$ 7,332,845 2,029 COP$ 6,671,818 Korean won 2,082 ₩ 2,268,301 1,959 ₩ 2,264,478 Chilean unidades de fomento 1,187 UF 29 1,099 UF 29 Other currencies 1,044 n/a n/a 1,041 n/a n/a Total $ 128,556 $ 127,869

SUBSIDIARY EQUITY OBLIGATIONS (

SUBSIDIARY EQUITY OBLIGATIONS (Tables)	12 Months Ended
SUBSIDIARY EQUITY OBLIGATIONS (Tables)	Dec. 31, 2020
Disclosure of financial liabilities [abstract]
Disclosure of detailed information about equity interests classified as liabilities [Table Text Block]	b) Infrastructure Our infrastructure property, plant and equipment consists of the following: Utilities Transport Midstream Data Sustainable Resources and Other Total AS AT AND FOR THE YEAR ENDED DEC. 31 (MILLIONS) 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 Cost, beginning of year $ 8,654 $ 6,248 $ 8,309 $ 2,495 $ 3,971 $ 2,443 $ 1,131 $ 444 $ 389 $ 429 $ 22,454 $ 12,059 Changes in basis of accounting — 110 — 356 — 108 — 633 — — — 1,207 Additions, net of disposals and assets reclassified as held for sale 550 34 146 171 277 136 51 (43) (16) (25) 1,008 273 Acquisitions through business combinations — 2,135 — 5,283 — 1,197 7,334 95 — — 7,334 8,710 Foreign currency translation 102 127 243 4 73 87 77 2 (79) (15) 416 205 Cost, end of year 9,306 8,654 8,698 8,309 4,321 3,971 8,593 1,131 294 389 31,212 22,454 Accumulated fair value changes, beginning of year 2,187 2,002 857 810 317 221 — — 416 447 3,777 3,480 Disposition and assets reclassified as held for sale — (416) — — — — — — — (37) — (453) Fair value changes 652 572 113 45 21 92 — — 6 6 792 715 Foreign currency translation 78 29 77 2 — 4 — — (98) — 57 35 Accumulated fair value changes, end of year 2,917 2,187 1,047 857 338 317 — — 324 416 4,626 3,777 Accumulated depreciation, beginning of year (1,172) (985) (950) (744) (208) (120) (88) — (41) (40) (2,459) (1,889) Depreciation expenses (419) (415) (498) (178) (141) (84) (189) (87) (10) (10) (1,257) (774) Dispositions and assets reclassified as held for sale 12 247 134 (25) — 3 17 — 7 7 170 232 Foreign currency translation (34) (19) (90) (3) (7) (7) (3) (1) 9 2 (125) (28) Accumulated depreciation, end of year (1,613) (1,172) (1,404) (950) (356) (208) (263) (88) (35) (41) (3,671) (2,459) Balance, end of year $ 10,610 $ 9,669 $ 8,341 $ 8,216 $ 4,303 $ 4,080 $ 8,330 $ 1,043 $ 583 $ 764 $ 32,167 $ 23,772 Subsidiary equity obligations consist of the following: AS AT DEC. 31 (MILLIONS) Note 2020 2019 Subsidiary preferred equity units (a) $ 1,679 $ 1,650 Limited-life funds and redeemable fund units (b) 1,456 1,896 Subsidiary preferred shares and capital (c) 564 586 Total $ 3,699 $ 4,132 AS AT DEC. 31 (MILLIONS, EXCEPT PER SHARE INFORMATION) Shares Outstanding Cumulative Dividend Rate Local Currency 2020 2019 Series 1 24,000,000 6.25 % US$ $ 586 $ 574 Series 2 24,000,000 6.50 % US$ 555 546 Series 3 24,000,000 6.75 % US$ 538 530 Total $ 1,679 $ 1,650 AS AT DEC. 31 (MILLIONS, EXCEPT PER SHARE INFORMATION) Shares Outstanding Cumulative Dividend Rate Local Currency 2020 2019 Brookfield Property Split Corp (“BOP Split”) senior preferred shares Series 1 842,534 5.25 % US$ $ 21 $ 23 Series 2 556,746 5.75 % C$ 11 13 Series 3 789,718 5.00 % C$ 16 18 Series 4 594,994 5.20 % C$ 12 18 BSREP II RH B LLC (“Manufactured Housing”) preferred capital 9.00 % US$ 249 249 Rouse Series A preferred shares 5,600,000 5.00 % US$ 142 142 BSREP II Vintage Estate Partners LLC (“Vintage Estates”) preferred shares 10,000 5.00 % US$ 40 40 BIP Investment Corporation Series 1 Senior preferred shares 4,000,000 5.85 % C$ 73 73 Forest City Enterprises L.P. (“Forest City”) & Other Preferred Capital — 10 Total $ 564 $ 586

SUBSIDIARY PUBLIC ISSUERS AND_2

SUBSIDIARY PUBLIC ISSUERS AND FINANCE SUBSIDIARY (Tables)	12 Months Ended
SUBSIDIARY PUBLIC ISSUERS AND FINANCE SUBSIDIARY (Tables)	Dec. 31, 2020
Disclosure of subsidiaries [abstract]
Schedule of interests in subsidiaries	The following table presents the details of the company’s subsidiaries with significant non-controlling interests: Jurisdiction of Formation Ownership Interest Held by Non-Controlling Interests 1, 2 AS AT DEC. 31 2020 2019 Brookfield Property Partners L.P. (“BPY”) Bermuda 38.3 % 44.8 % Brookfield Renewable Partners L.P. (“BEP”) 3 Bermuda 49.3 % 39.5 % Brookfield Infrastructure Partners L.P. (“BIP”) 4 Bermuda 71.5 % 70.4 % Brookfield Business Partners L.P. (“BBU”) Bermuda 36.5 % 37.3 % 1. Control and associated voting rights of the limited partnerships (BPY, BEP, BIP and BBU) reside with their respective general partners which are wholly owned subsidiaries of the company. The company’s general partner interest is entitled to earn base management fees and incentive payments in the form of incentive distribution rights or performance fees. 2. The company’s ownership interest in BPY, BEP, BIP and BBU includes a combination of redemption-exchange units (REUs), Class A limited partnership units, special limited partnership units, general partnership units and units or shares that are exchangeable for units in our listed partnerships, in each subsidiary, where applicable. Each of BPY, BEP, BIP and BBU’s partnership capital includes its Class A limited partnership units whereas REUs and general partnership units are considered non-controlling interests for the respective partnerships. REUs share the same economic attributes in all respects except for the redemption right attached thereto. The REUs and general partnership units participate in earnings and distributions on a per unit basis equivalent to the per unit participation of the Class A limited partnership units of the subsidiary. 3. Ownership interest held by Non-Controlling Interests represents the combined units not held in BEP LP and Brookfield Renewable Corporation (“BEPC”). 4. Ownership interest held by Non-Controlling Interests represents the combined units not held in BIP LP and Brookfield Infrastructure Corporation (“BIPC”). The following tables contain summarized financial information of the Corporation, BFI, BFI II, BFL, BFL II, BF AUS, BF U.K., BIC and non-guarantor subsidiaries: AS AT AND FOR THE YEAR ENDED DEC. 31, 2020 (MILLIONS) The Corporation 1 BFI BFI II BFL BFL II BF AUS BF U.K. BIC Other Subsidiaries of the Company 2 Consolidating Adjustments 3 The Company Consolidated Revenues $ 626 $ 280 $ — $ 28 $ — $ — $ 2 $ 163 $ 70,385 $ (8,732) $ 62,752 Net income attributable to shareholders (134) 73 — — — — 1 91 6,368 (6,533) (134) Total assets 73,898 7,207 — 600 — — 233 4,280 350,687 (93,209) 343,696 Total liabilities 38,060 5,547 — 596 — — 3 2,690 206,877 (32,719) 221,054 Non-controlling interests – preferred equity — — — — — — 230 — — — 230 AS AT AND FOR THE YEAR ENDED DEC. 31, 2019 (MILLIONS) The Corporation 1 BFI BFI II BFL BFL II BF AUS BF U.K. BIC Other subsidiaries of the Company 2 Consolidating Adjustments 3 The Company Consolidated Revenues $ 104 $ 148 $ — $ — $ — $ — $ — $ 105 $ 73,310 $ (5,841) $ 67,826 Net income attributable to shareholders 2,807 40 — — — — — 85 3,493 (3,618) 2,807 Total assets 70,976 5,389 — — — — — 3,520 331,698 (87,614) 323,969 Total liabilities 35,963 3,994 — — — — — 2,239 195,586 (30,659) 207,123 Non-controlling interests – preferred equity — — — — — — — — — — — 1. This column accounts for investments in all subsidiaries of the Corporation under the equity method. 2. This column accounts for investments in all subsidiaries of the Corporation other than BFI, BFI II, BFL, BFL II, BF AUS, BF U.K. and BIC on a combined basis. 3. This column includes the necessary amounts to present the company on a consolidated basis.

EQUITY (Tables)

EQUITY (Tables)	12 Months Ended
EQUITY (Tables)	Dec. 31, 2020
Equity [abstract]
Disclosure of indirect measurement of fair value of goods or services received, other equity instruments granted during period [text block]	The weighted-average fair value of escrowed shares granted for the year ended December 31, 2020 was $5.54 (2019 – $4.54), and was determined using the Black-Scholes model of valuation with inputs to the model as follows: FOR THE YEARS ENDED DEC. 31 Unit 2020 2019 1 Weighted-average share price US$ 45.21 34.08 Average term to exercise Years 7.5 8.5 Share price volatility 2 % 17.0 17.3 Liquidity discount % 25.0 25.0 Weighted-average annual dividend yield % 1.5 1.8 Risk-free rate % 1.4 2.1 1. Adjusted to reflect the three-for-two stock split effective on April 1, 2020. 2. Share price volatility was determined based on historical share prices over a similar period to the average term to exercise.
Disclosure of components of common equity	The company’s common equity is comprised of the following: AS AT DEC. 31 (MILLIONS) 2020 2019 Common shares $ 7,368 $ 7,305 Contributed surplus 285 286 Retained earnings 15,178 16,026 Ownership changes 2,691 1,010 Accumulated other comprehensive income 6,171 6,241 Common equity $ 31,693 $ 30,868
Schedule of equity	Equity consists of the following: AS AT DEC. 31 (MILLIONS) Note 2020 2019 Preferred equity (a) $ 4,145 $ 4,145 Non-controlling interests (b) 86,804 81,833 Common equity (c) 31,693 30,868 $ 122,642 $ 116,846 Preferred equity includes perpetual preferred shares and rate-reset preferred shares and consists of the following: Average Rate AS AT DEC. 31 (MILLIONS) 2020 2019 2020 2019 Perpetual preferred shares Floating rate 1.76 % 2.91 % $ 531 $ 531 Fixed rate 4.82 % 4.82 % 739 739 3.54 % 4.02 % 1,270 1,270 Fixed rate-reset preferred shares 4.07 % 4.28 % 2,875 2,875 3.91 % 4.20 % $ 4,145 $ 4,145 Further details on each series of preferred shares are as follows: Issued and Outstanding AS AT DEC. 31 (MILLIONS, EXCEPT PER SHARE INFORMATION) Rate 2020 2019 2020 2019 Class A preferred shares Perpetual preferred shares Series 2 70% P 10,457,685 10,457,685 $ 169 $ 169 Series 4 70% P/8.5% 2,795,910 2,795,910 45 45 Series 8 Variable up to P 2,476,185 2,476,185 42 42 Series 13 70% P 9,290,096 9,290,096 195 195 Series 15 B.A. + 40 b.p. 2,000,000 2,000,000 42 42 Series 17 4.75 % 7,840,204 7,840,204 171 171 Series 18 4.75 % 7,866,749 7,866,749 178 178 Series 25 3-Month T-Bill + 230 b.p. 1,529,133 1,529,133 38 38 Series 36 4.85 % 7,842,909 7,842,909 197 197 Series 37 4.90 % 7,830,091 7,830,091 193 193 1,270 1,270 Rate-reset preferred shares 2 Series 9 2.75 % 1,515,981 1,515,981 21 21 Series 24 3.01 % 9,278,894 9,278,894 227 227 Series 26 3.47 % 9,770,928 9,770,928 240 240 Series 28 2.73 % 9,233,927 9,233,927 232 232 Series 30 4.69 % 9,787,090 9,787,090 241 241 Series 32 5.06 % 11,750,299 11,750,299 297 297 Series 34 3 4.44 % 9,876,735 9,876,735 253 253 Series 38 4 3.57 % 7,906,132 7,906,132 179 179 Series 40 5 4.03 % 11,841,025 11,841,025 271 271 Series 42 6 3.25 % 11,887,500 11,887,500 266 266 Series 44 5.00 % 9,831,929 9,831,929 187 187 Series 46 4.80 % 11,740,797 11,740,797 217 217 Series 48 4.75 % 11,885,972 11,885,972 244 244 2,875 2,875 Total $ 4,145 $ 4,145 1. Rate determined quarterly. 2. Dividend rates are fixed for 5 to 6 years from the quarter end dates after issuance, June 30, 2011, March 31, 2012, June 30, 2012, December 31, 2012, September 30, 2013, March 31, 2014, June 30, 2014, December 31, 2014, December 31, 2015, December 31, 2016 and December 31, 2017, respectively and reset after 5 to 6 years to the 5-year Government of Canada bond rate plus between 180 and 417 basis points. 3. Dividend rate reset commenced March 31, 2019. 4. Dividend rate reset commenced March 31, 2020. 5. Dividend rate reset commenced September 30, 2019. 6. Dividend rate reset commenced June 30, 2020. Non-controlling interests represent the common and preferred equity in consolidated entities that are owned by other shareholders. AS AT DEC. 31 (MILLIONS) 2020 2019 Common equity $ 80,915 $ 76,557 Preferred equity 5,889 5,276 Total $ 86,804 $ 81,833 The number of issued and outstanding Class A and Class B shares and unexercised options are as follows: AS AT DEC. 31 2020 2019 1 Class A shares 2 1,510,635,291 1,509,208,521 Class B shares 85,120 85,120 Shares outstanding 2 1,510,720,411 1,509,293,641 Unexercised options and other share-based plans 3 62,975,947 70,018,161 Total diluted shares 1,573,696,358 1,579,311,802 1. Adjusted to reflect the three-for-two stock split effective on April 1, 2020. 2. Net of 64,197,815 Class A shares held by the company in respect of long-term compensation agreements as at December 31, 2020 (December 31, 2019 – 63,417,346). FOR THE YEARS ENDED DEC. 31 2020 1 2019 1 Outstanding, beginning of year 2 1,509,293,641 1,432,714,261 Issued (repurchased) Issuances — 79,136,155 Repurchases (8,932,576) (10,782,801) Long-term share ownership plans 3 10,137,294 8,019,626 Dividend reinvestment plan and others 222,052 206,400 Outstanding, end of year 4 1,510,720,411 1,509,293,641 1. Adjusted to reflect the three-for-two stock split effective on April 1, 2020. 2. Net of 63,417,346 Class A shares held by the company in respect of long-term compensation agreements as at December 31, 2019 (December 31, 2018 – 56,307,796). 3. Includes management share option plan and restricted stock plan.
Schedule of basic and diluted earnings per share	The components of basic and diluted earnings per share are summarized in the following table: FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 Net (loss) income attributable to shareholders $ (134) $ 2,807 Preferred share dividends (141) (152) Dilutive effect of conversion of subsidiary preferred shares 93 (74) Net (loss) income available to shareholders $ (182) $ 2,581 FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 1 Weighted average – Class A and Class B shares 1,511.4 1,452.9 Dilutive effect of the conversion of options and escrowed shares using treasury stock method — 35.5 Class A and Class B shares and share equivalents 1,511.4 1,488.4 1. Adjusted to reflect the three-for-two stock split effective on April 1, 2020.
Schedule of expense recognized for share-based compensation	The expense recognized for share-based compensation is summarized in the following table: FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 Expense arising from equity-settled share-based payment transactions $ 89 $ 81 Expense arising from cash-settled share-based payment transactions 104 506 Total expense arising from share-based payment transactions 193 587 Effect of hedging program (99) (500) Total expense included in consolidated income $ 94 $ 87
Schedule of number and weighted average exercise prices of share options	The changes in the number of options during 2020 and 2019 were as follows: TSX NYSE Number of Options (000’s) 1 Weighted- Average Exercise Price Number of Options (000’s) 2 Weighted- Average Exercise Price Outstanding as at January 1, 2020 — C$ — 50,703 US$ 22.69 Granted — — 3,341 45.21 Exercised — — (6,382) 16.50 Cancelled — — (295) 27.80 Outstanding as at December 31, 2020 — C$ — 47,367 US$ 25.08 1. Options to acquire TSX listed Class A shares. 2. Options to acquire NYSE listed Class A shares. TSX NYSE Number of Options (000’s) 2 Weighted- Average Exercise Price Number of Options (000’s) 3 Weighted- Average Exercise Price Outstanding as at January 1, 2019 1 1,185 C$ 7.84 55,113 US$ 19.68 Granted 1 — — 7,616 30.42 Exercised 1 (1,185) 7.84 (11,747) 13.50 Cancelled 1 — — (279) 26.68 Outstanding as at December 31, 2019 1 — C$ — 50,703 US$ 22.69 1. Adjusted to reflect the three-for-two stock split effective on April 1, 2020. 2. Options to acquire TSX listed Class A shares. 3. Options to acquire NYSE listed Class A shares. The weighted-average fair value of options granted for the year ended December 31, 2020 was $5.54 (2019 – $3.92), and was determined using the Black-Scholes valuation model, with inputs to the model as follows: FOR THE YEARS ENDED DEC. 31 Unit 2020 2019 1 Weighted-average share price US$ 45.21 30.42 Average term to exercise Years 7.5 7.5 Share price volatility 2 % 17.0 16.9 Liquidity discount % 25.0 25.0 Weighted-average annual dividend yield % 1.5 2.0 Risk-free rate % 1.4 2.5 1. Adjusted to reflect the three-for-two stock split effective on April 1, 2020. 2. Share price volatility was determined based on historical share prices over a similar period to the average term to exercise. At December 31, 2020, the following options to purchase Class A shares were outstanding: Options Outstanding (000’s) Exercise Price Weighted-Average Remaining Life Vested Unvested Total US$10.30 – US$15.35 1.0 years 2,254 — 2,254 US$15.58 – US$20.39 3.8 years 11,860 1,131 12,991 US$22.50 – US$26.93 5.9 years 14,280 7,010 21,290 US$29.48 – US$38.64 8.2 years 1,833 5,672 7,505 US$45.21 9.2 years — 3,327 3,327 30,227 17,140 47,367 At December 31, 2019, the following options to purchase Class A shares were outstanding: Options Outstanding (000’s) 1 Exercise Price 1 Weighted-Average Remaining Life Vested Unvested Total US$10.30 – US$15.35 1.6 years 5,619 — 5,619 US$15.58 – US$20.39 4.7 years 12,523 2,313 14,836 US$22.50 – US$26.93 6.8 years 11,371 11,271 22,642 US$29.48 – US$38.64 9.2 years 613 6,993 7,606 30,126 20,577 50,703 1. Adjusted to reflect the three-for-two stock split effective on April 1, 2020. The change in the number of ES shares during 2020 and 2019 was as follows: Number of Weighted- Average Exercise Price Outstanding at January 1, 2020 54,791 $ 25.82 Granted 3,841 45.21 Exercised (11,613) 19.66 Cancelled (303) 35.85 Outstanding at December 31, 2020 46,716 $ 28.88 Number of Weighted- Average Exercise Price Outstanding at January 1, 2019 1 40,655 $ 22.18 Granted 1 15,975 34.08 Exercised 1 (1,613) 15.77 Cancelled 1 (226) $ 26.32 Outstanding at December 31, 2019 1 54,791 25.82 1. Adjusted to reflect the three-for-two stock split effective on April 1, 2020.

REVENUES (Tables)

REVENUES (Tables)	12 Months Ended
REVENUES (Tables)	Dec. 31, 2020
Disclosure of disaggregation of revenue from contracts with customers [abstract]
Disclosure of maturity analysis of finance lease payments receivable [text block]	The following table presents the undiscounted contractual earnings receivable of the company’s leases by expected period of receipt: Payments Receivable by Period AS AT DEC. 31, 2020 (MILLIONS) Less than 1 Year 1 – 3 Years 4 – 5 Years After 5 Years Total Receivables from lease contracts $ 4,738 $ 8,385 $ 6,661 $ 15,971 $ 35,755 Payments Receivable by Period AS AT DEC. 31, 2019 (MILLIONS) Less than 1 Year 1 – 3 Years 4 – 5 Years After 5 Years Total Receivables from lease contracts $ 4,514 $ 8,239 $ 6,744 $ 15,875 $ 35,372
Disclosure of disaggregation of revenue [Table Text Block]	Revenue by Type FOR THE YEAR ENDED DEC. 31, 2020 (MILLIONS) Asset Corporate Real Estate Renewable Infrastructure Private Residential Total Revenue from contracts with customers $ 246 $ — $ 2,403 $ 3,757 $ 8,611 $ 35,599 $ 2,170 $ 52,786 Other revenue — 872 6,448 328 683 1,562 73 9,966 $ 246 $ 872 $ 8,851 $ 4,085 $ 9,294 $ 37,161 $ 2,243 $ 62,752 FOR THE YEAR ENDED DEC. 31, 2019 (MILLIONS) Asset Corporate Real Estate Renewable Infrastructure Private Residential Total Revenue from contracts with customers $ 271 $ 9 $ 3,833 $ 3,810 $ 6,333 $ 42,147 $ 2,396 $ 58,799 Other revenue — 499 6,609 149 758 952 60 9,027 $ 271 $ 508 $ 10,442 $ 3,959 $ 7,091 $ 43,099 $ 2,456 $ 67,826
Disclosure of revenue from contracts with customers [text block]	Timing of Recognition of Revenue from Contracts with Customers FOR THE YEAR ENDED DEC. 31, 2020 (MILLIONS) Asset Corporate Real Estate Renewable Infrastructure Private Residential Total Goods and services provided at a point in time $ — $ — $ 553 $ 143 $ 160 $ 28,944 $ 2,167 $ 31,967 Services transferred over a period of time 246 — 1,850 3,614 8,451 6,655 3 20,819 $ 246 $ — $ 2,403 $ 3,757 $ 8,611 $ 35,599 $ 2,170 $ 52,786 FOR THE YEAR ENDED DEC. 31, 2019 (MILLIONS) Asset Corporate Real Estate Renewable Infrastructure Private Residential Total Goods and services provided at a point in time $ — $ 9 $ 1,193 $ 95 $ 225 $ 34,141 $ 2,384 $ 38,047 Services transferred over a period of time 271 — 2,640 3,715 6,108 8,006 12 20,752 $ 271 $ 9 $ 3,833 $ 3,810 $ 6,333 $ 42,147 $ 2,396 $ 58,799

FAIR VALUE CHANGES (Tables)

FAIR VALUE CHANGES (Tables)	12 Months Ended
FAIR VALUE CHANGES (Tables)	Dec. 31, 2020
Fair Value Measurement [Abstract]
Fair value changes	Fair value changes recorded in net income represent gains or losses arising from changes in the fair value of assets and liabilities, including derivative financial instruments, accounted for using the fair value method and are comprised of the following: FOR THE YEARS ENDED DEC. 31 (MILLIONS) 2020 2019 Investment properties $ (269) $ 1,710 Transaction related expenses, net of gains 20 (895) Financial contracts 686 (140) Impairment and provisions (808) (825) Other fair value changes (1,052) (681) $ (1,423) $ (831)

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	Dec. 31, 2020
Disclosure of detailed information about financial instruments [abstract]
Disclosure of detailed information about financial instruments [text block]	The aggregate notional amount of the company’s derivative positions at December 31, 2020 and 2019 is as follows: AS AT DEC. 31 (MILLIONS) Note 2020 2019 Foreign exchange (a) $ 39,284 $ 37,334 Interest rates (b) 61,111 51,619 Credit default swaps (c) — 39 Equity derivatives (d) 2,081 2,517 Commodity instruments (e) 2020 2019 Energy (GWh) 27,564 25,136 Natural gas (MMBtu – 000’s) 121,468 78,364 The company held the following foreign exchange contracts with notional amounts at December 31, 2020 and 2019: Notional Amount (U.S. Dollars) Average Exchange Rate (MILLIONS) 2020 2019 2020 2019 Foreign exchange contracts Canadian dollars $ 7,539 $ 6,839 0.76 0.75 British pounds 3,986 7,874 1.31 1.27 European Union euros 4,561 2,069 1.17 1.16 Australian dollars 2,632 3,989 0.69 0.71 Indian rupee 1,288 240 77.56 73.55 Chilean peso 159 548 770.89 722.08 Korean won 1 700 687 1,175 1,173 Chinese yuan 1 1,633 1,862 7.05 5.42 Japanese yen 1 212 111 105.82 104.58 Colombian pesos 1 96 534 3,621 3,416 Brazilian reais 276 484 0.19 0.24 Swedish krona 1,647 1,578 8.58 9.10 Other currencies 903 584 Various Various Cross currency interest rate swaps Canadian dollars 6,868 4,493 0.77 0.77 European Union euros 1,914 103 1.06 1.09 Australian dollars 1,374 2,033 0.53 0.98 Japanese yen 1 750 18 113.33 110.00 British pounds 275 267 1.49 1.49 Colombian pesos 1 88 100 3,880.00 3,463 Foreign exchange futures Brazilian reais 105 38 0.19 0.25 Foreign exchange options British pounds — 1,338 — 1.43 Canadian dollars 2,030 — 0.74 — European Union euros 245 1,544 1.17 1.12 1. Average rate is quoted using USD as base currency. The following table presents the change in fair values of the company’s derivative positions during the years ended December 31, 2020 and 2019, for derivatives that are fair valued through profit or loss, and derivatives that qualify for hedge accounting: Unrealized Gains During 2020 Unrealized Losses During 2020 Net Change During 2020 Net Change During 2019 Foreign exchange derivatives $ 419 $ (460) $ (41) $ 201 Interest rate derivatives 110 (337) (227) (221) Credit default swaps — — — (1) Equity derivatives 1,161 (311) 850 13 Commodity derivatives 44 (86) (42) 27 $ 1,734 $ (1,194) $ 540 $ 19 The following table presents the notional amounts underlying the company’s derivative instruments by term to maturity as at December 31, 2020 and 2019, for derivatives that are classified as fair value through profit or loss, and derivatives that qualify for hedge accounting: 2020 2019 AS AT DEC. 31 (MILLIONS) <1 Year 1 to 5 Years >5 Years Total Notional Amount Total Notional Amount Fair value through profit or loss Foreign exchange derivatives $ 6,891 $ 5,158 $ 129 $ 12,178 $ 7,946 Interest rate derivatives 13,158 12,308 1,614 27,080 22,731 Credit default swaps — — — — 39 Equity derivatives 1,216 865 — 2,081 2,517 Commodity instruments Energy (GWh) 4,406 9,207 — 13,613 10,652 Natural gas (MMBtu – 000’s) 34,572 4,233 — 38,805 66,200 Elected for hedge accounting Foreign exchange derivatives $ 13,498 $ 12,086 $ 1,522 $ 27,106 $ 29,387 Interest rate derivatives 7,738 22,054 4,240 34,032 28,888 Equity derivatives — — — — — Commodity instruments Energy (GWh) 5,562 5,066 3,322 13,950 14,485 Natural gas (MMBtu – 000’s) 51,034 31,630 — 82,664 12,164
Disclosure of derivatives elected for hedge accounting	The following table classifies derivatives elected for hedge accounting during the years ended December 31, 2020 and 2019 as either cash flow hedges or net investment hedges. Changes in the fair value of the effective portion of the hedge are recorded in either other comprehensive income or net income, depending on the hedge classification, whereas changes in the fair value of the ineffective portion of the hedge are recorded in net income: 2020 2019 FOR THE YEARS ENDED DEC. 31 Notional Effective Portion Ineffective Portion Notional Effective Portion Ineffective Portion Cash flow hedges 1 $ 39,128 $ (479) $ 10 $ 32,709 $ (89) $ 20 Net investment hedges 17,788 182 10 22,790 (433) 16 $ 56,916 $ (297) $ 20 $ 55,499 $ (522) $ 36 1. Notional amount does not include 13,950 GWh, 82,663 MMBtu – 000’s and 1,302 bbls – millions of commodity derivatives at December 31, 2020 (2019 – 14,485 GWh, 12,164 MMBtu – 000’s and 2,273 bbls – millions).

MANAGEMENT OF RISKS ARISING F_2

MANAGEMENT OF RISKS ARISING FROM HOLDING FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of detailed information about financial instruments [abstract]
Disclosure of maturity analysis for financial liabilities	The following tables present the contractual maturities of the company’s financial liabilities at December 31, 2020 and 2019. Payments Due by Period AS AT DEC. 31, 2020 (MILLIONS) <1 Year 1 to 3 Years 4 to 5 Years After 5 Years Total Principal repayments Corporate borrowings $ — $ 467 $ 1,630 $ 6,980 $ 9,077 Non-recourse borrowings of managed entities 21,108 29,399 40,049 48,768 139,324 Subsidiary equity obligations 799 1,147 800 953 3,699 Interest expense 1 Corporate borrowings 405 793 659 3,593 5,450 Non-recourse borrowings 5,145 8,788 6,310 8,313 28,556 Subsidiary equity obligations 147 213 171 44 575 Lease obligations 2 815 1,682 1,123 11,755 15,375 1. Represents the aggregated interest expense expected to be paid over the term of the obligations. Variable interest rate payments have been calculated based on current rates. 2. The lease obligations as disclosed in the table above include leases that are classified as finance leases, short-term leases, low-value leases and variable lease payments not based on an index or rate, which are immaterial. Payments Due by Period AS AT DEC. 31, 2019 (MILLIONS) <1 Year 1 to 3 Years 4 to 5 Years After 5 Years Total Principal repayments Corporate borrowings $ — $ 269 $ 1,597 $ 5,217 $ 7,083 Non-recourse borrowings of managed entities 15,563 28,396 34,602 57,731 136,292 Subsidiary equity obligations 188 1,677 745 1,522 4,132 Interest expense 1 Corporate borrowings 327 629 551 1,714 3,221 Non-recourse borrowings 5,210 8,524 6,641 7,749 28,124 Subsidiary equity obligations 151 261 212 107 731 Lease obligations 2 766 1,171 992 11,064 13,993 1. Represents the aggregated interest expense expected to be paid over the term of the obligations. Variable interest rate payments have been calculated based on current rates. 2. The lease obligations as disclosed in the table above include leases that are classified as finance leases, short-term leases, low-value leases and variable lease payments not based on an index or rate, which are immaterial.

ORGANIZATION AND CAPITAL MANAGE

ORGANIZATION AND CAPITAL MANAGEMENT - Summary of the Corporation's capital (Details) - USD ($) $ in Millions	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Management Commentary Explanatory [Line Items]
Financial assets	$ 41,335		$ 33,281
Other financial assets	17,730		12,468
Corporation's Capital	271,043		260,221
Equity	122,642		116,846
Non-controlling interest - preferred equity	230
Financial liabilities	193,217		184,231
Accounts receivable and other	18,928		18,469
Inventory	10,360		10,272
Assets classified as held for sale	5,917		3,502
Equity accounted investments	41,327		40,698	$ 33,647
Investment properties	96,782		96,686	84,309
Property, plant and equipment	100,009		89,264
Intangible assets	24,658		27,710	18,762
Goodwill	14,714		14,550	$ 8,815
Deferred income tax assets	3,338		3,572
Accounts payable and other	(50,682)	$ (50,682)	(43,077)
Liabilities associated with assets classified as held for sale	(2,359)		(1,690)
Deferred income tax liabilities	(15,913)		(14,849)
Subsidiary equity obligations	(3,699)		(4,132)
Net Assets Before Common Equity in Managed Investments	271,043		260,221
Non-recourse borrowings of managed entities	139,324		136,292
Corporate borrowings
Management Commentary Explanatory [Line Items]
Financial liabilities	9,077		7,083
Non-controlling interests
Management Commentary Explanatory [Line Items]
Equity	86,804		81,833
Common shares \| Common equity
Management Commentary Explanatory [Line Items]
Equity	31,693		30,868
Common shares \| Non-controlling interests
Management Commentary Explanatory [Line Items]
Equity	80,915		76,557
Preferred shares \| Preferred equity
Management Commentary Explanatory [Line Items]
Equity	4,145		4,145
Non-controlling interest - preferred equity			81,833
Preferred shares \| Non-controlling interests
Management Commentary Explanatory [Line Items]
Equity	5,889		5,276
Cash And Cash Equivalents1 [Member]
Management Commentary Explanatory [Line Items]
Financial assets	9,933		6,778
The Corporation
Management Commentary Explanatory [Line Items]
Other financial assets	3,809		2,722
Common Equity in Managed Investments	33,732		33,839
Other Assets and Liabilities	6,321		4,728
Corporation's Capital	45,145		42,096
Accounts receivable and other	3,632		1,629
Inventory	2		0
Assets classified as held for sale	0		0
Equity accounted investments	5,361		5,281
Investment properties	17		0
Property, plant and equipment	122		79
Intangible assets	285		124
Goodwill	368		328
Deferred income tax assets	2,159		2,477
Accounts payable and other	(5,134)		(4,870)
Liabilities associated with assets classified as held for sale	0		0
Deferred income tax liabilities	(414)		(279)
Subsidiary equity obligations	(77)		(41)
Net Assets Before Common Equity in Managed Investments	11,413		8,257
The Corporation \| Corporate borrowings
Management Commentary Explanatory [Line Items]
Financial liabilities	9,077		7,083
The Corporation \| Common shares \| Common equity
Management Commentary Explanatory [Line Items]
Equity	31,693		30,868
The Corporation \| Preferred shares \| Preferred equity
Management Commentary Explanatory [Line Items]
Equity	4,145		4,145
Non-controlling interest - preferred equity	230		0
The Corporation \| Cash And Cash Equivalents1 [Member]
Management Commentary Explanatory [Line Items]
Financial assets	1,283		807
Managed Investments
Management Commentary Explanatory [Line Items]
Other financial assets	13,921		9,746
Common Equity in Managed Investments	0		0
Corporation's Capital	259,630		251,964
Accounts receivable and other	17,401		17,002
Inventory	10,358		10,272
Assets classified as held for sale	5,917		3,502
Equity accounted investments	35,966		35,417
Investment properties	96,765		96,686
Property, plant and equipment	99,887		89,185
Intangible assets	24,373		27,586
Goodwill	14,346		14,222
Deferred income tax assets	1,179		1,095
Accounts payable and other	(47,653)		(38,369)
Liabilities associated with assets classified as held for sale	(2,359)		(1,690)
Deferred income tax liabilities	(15,499)		(14,570)
Subsidiary equity obligations	(3,622)		(4,091)
Net Assets Before Common Equity in Managed Investments	259,630		251,964
Non-recourse borrowings of managed entities	139,324		136,292
Managed Investments \| Corporate borrowings
Management Commentary Explanatory [Line Items]
Financial liabilities	0		0
Managed Investments \| Common shares \| Common equity
Management Commentary Explanatory [Line Items]
Equity	33,732		33,839
Managed Investments \| Preferred shares \| Preferred equity
Management Commentary Explanatory [Line Items]
Equity	0		0
Non-controlling interest - preferred equity	86,574
Managed Investments \| Cash And Cash Equivalents1 [Member]
Management Commentary Explanatory [Line Items]
Financial assets	8,650		5,971
Elimination
Management Commentary Explanatory [Line Items]
Common Equity in Managed Investments	(33,732)		(33,839)
Corporation's Capital	(33,732)		(33,839)
Accounts receivable and other	(2,105)		(162)
Accounts payable and other	2,105		(162)
Elimination \| Common shares \| Common equity
Management Commentary Explanatory [Line Items]
Equity	$ (33,732)		$ (33,839)

ORGANIZATION AND CAPITAL MANA_2

ORGANIZATION AND CAPITAL MANAGEMENT - Reconciliation of the Corporation's Capital (Details) - USD ($) $ in Millions	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Management Commentary Explanatory [Line Items]
Financial assets	$ 41,335		$ 33,281
Other financial assets	17,730		12,468
Accounts receivable and other	18,928		18,469
Inventory	10,360		10,272
Assets classified as held for sale	5,917		3,502
Equity accounted investments	41,327		40,698	$ 33,647
Investment properties	96,782		96,686	84,309
Property, plant and equipment	100,009		89,264
Intangible assets	24,658		27,710	18,762
Goodwill	14,714		14,550	$ 8,815
Deferred income tax assets	3,338		3,572
Accounts payable and other	(50,682)	$ (50,682)	(43,077)
Liabilities associated with assets classified as held for sale	(2,359)		(1,690)
Deferred income tax liabilities	(15,913)		(14,849)
Subsidiary equity obligations	(3,699)		(4,132)
Net Assets Before Common Equity in Managed Investments	271,043		260,221
Corporation's Capital	271,043		260,221
Financial liabilities	193,217		184,231
Non-recourse borrowings of managed entities	139,324		136,292
Equity	122,642		116,846
Non-controlling interest - preferred equity	230
Non-controlling interests
Management Commentary Explanatory [Line Items]
Equity	86,804		81,833
Preferred shares \| Preferred equity
Management Commentary Explanatory [Line Items]
Equity	4,145		4,145
Non-controlling interest - preferred equity			81,833
Preferred shares \| Non-controlling interests
Management Commentary Explanatory [Line Items]
Equity	5,889		5,276
Common shares \| Non-controlling interests
Management Commentary Explanatory [Line Items]
Equity	80,915		76,557
Common shares \| Common equity
Management Commentary Explanatory [Line Items]
Equity	31,693		30,868
Corporate borrowings
Management Commentary Explanatory [Line Items]
Financial liabilities	9,077		7,083
Cash And Cash Equivalents1 [Member]
Management Commentary Explanatory [Line Items]
Financial assets	9,933		6,778
The Corporation
Management Commentary Explanatory [Line Items]
Other financial assets	3,809		2,722
Accounts receivable and other	3,632		1,629
Inventory	2		0
Assets classified as held for sale	0		0
Equity accounted investments	5,361		5,281
Investment properties	17		0
Property, plant and equipment	122		79
Intangible assets	285		124
Goodwill	368		328
Deferred income tax assets	2,159		2,477
Accounts payable and other	(5,134)		(4,870)
Liabilities associated with assets classified as held for sale	0		0
Deferred income tax liabilities	(414)		(279)
Subsidiary equity obligations	(77)		(41)
Net Assets Before Common Equity in Managed Investments	11,413		8,257
Common Equity in Managed Investments	33,732		33,839
Corporation's Capital	45,145		42,096
The Corporation \| Preferred shares \| Preferred equity
Management Commentary Explanatory [Line Items]
Equity	4,145		4,145
Non-controlling interest - preferred equity	230		0
The Corporation \| Common shares \| Common equity
Management Commentary Explanatory [Line Items]
Equity	31,693		30,868
The Corporation \| Corporate borrowings
Management Commentary Explanatory [Line Items]
Financial liabilities	9,077		7,083
The Corporation \| Cash And Cash Equivalents1 [Member]
Management Commentary Explanatory [Line Items]
Financial assets	1,283		807
Managed Investments
Management Commentary Explanatory [Line Items]
Other financial assets	13,921		9,746
Accounts receivable and other	17,401		17,002
Inventory	10,358		10,272
Assets classified as held for sale	5,917		3,502
Equity accounted investments	35,966		35,417
Investment properties	96,765		96,686
Property, plant and equipment	99,887		89,185
Intangible assets	24,373		27,586
Goodwill	14,346		14,222
Deferred income tax assets	1,179		1,095
Accounts payable and other	(47,653)		(38,369)
Liabilities associated with assets classified as held for sale	(2,359)		(1,690)
Deferred income tax liabilities	(15,499)		(14,570)
Subsidiary equity obligations	(3,622)		(4,091)
Net Assets Before Common Equity in Managed Investments	259,630		251,964
Common Equity in Managed Investments	0		0
Corporation's Capital	259,630		251,964
Non-recourse borrowings of managed entities	139,324		136,292
Managed Investments \| Preferred shares \| Preferred equity
Management Commentary Explanatory [Line Items]
Equity	0		0
Non-controlling interest - preferred equity	86,574
Managed Investments \| Common shares \| Common equity
Management Commentary Explanatory [Line Items]
Equity	33,732		33,839
Managed Investments \| Corporate borrowings
Management Commentary Explanatory [Line Items]
Financial liabilities	0		0
Managed Investments \| Cash And Cash Equivalents1 [Member]
Management Commentary Explanatory [Line Items]
Financial assets	8,650		5,971
Elimination
Management Commentary Explanatory [Line Items]
Accounts receivable and other	(2,105)		(162)
Accounts payable and other	2,105		(162)
Common Equity in Managed Investments	(33,732)		(33,839)
Corporation's Capital	(33,732)		(33,839)
Elimination \| Common shares \| Common equity
Management Commentary Explanatory [Line Items]
Equity	$ (33,732)		$ (33,839)

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of initial application of standards or interpretations [line items]
Assets	$ 343,696	$ 323,969
Right-of-use assets	$ 3,300	$ 2,600
Renewable Power
Disclosure of initial application of standards or interpretations [line items]
Useful lives or depreciation rates, property, plant and equipment	32 years	32 years
Investment property [member] \| Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Disclosure of initial application of standards or interpretations [line items]
Right-of-use assets	$ 193	$ 928
Property, plant and equipment [member]
Disclosure of initial application of standards or interpretations [line items]
Right-of-use assets	6,700	5,400
Property, plant and equipment [member] \| Infrastructure
Disclosure of initial application of standards or interpretations [line items]
Right-of-use assets	4,100	2,200
Property, plant and equipment [member] \| Renewable Power
Disclosure of initial application of standards or interpretations [line items]
Right-of-use assets	393	1,100
Property, plant and equipment [member] \| Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Disclosure of initial application of standards or interpretations [line items]
Right-of-use assets	90,400	88,500
Brazil
Disclosure of initial application of standards or interpretations [line items]
Assets	$ 20,675	$ 24,354
Brazil \| Renewable Power
Disclosure of initial application of standards or interpretations [line items]
Weighted-average remaining duration, property, plant, and equipment	32 years	32 years

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES SIGNIFICANT ACCOUNTING POLICIES - Property, Plant, and Equipment (Details)	12 Months Ended
	Dec. 31, 2020
Infrastructure \| Buildings [member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives, property, plant and equipment	75 years
Infrastructure \| Transmission stations, towers and related fixtures [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives, property, plant and equipment	40 years
Infrastructure \| Leasehold improvements [member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives, property, plant and equipment	50 years
Infrastructure \| Plant and equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives, property, plant and equipment	40 years
Infrastructure \| Network Systems [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives, property, plant and equipment	65 years
Infrastructure \| Track
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives, property, plant and equipment	40 years
Infrastructure \| District energy systems [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives, property, plant and equipment	50 years
Infrastructure \| 4610 Pipe Lines (No Natural Gas)
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives, property, plant and equipment	20 years
Infrastructure \| Gas storage assets [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives, property, plant and equipment	50 years
Renewable Power \| Dams [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives, property, plant and equipment	115 years
Renewable Power \| Penstocks [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives, property, plant and equipment	60 years
Renewable Power \| Powerhouses [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives, property, plant and equipment	115 years
Renewable Power \| Hydroelectric Generating Units [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives, property, plant and equipment	115 years
Renewable Power \| Wind Generating Units [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives, property, plant and equipment	30 years
Renewable Power \| Solar Generating units [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives, property, plant and equipment	35 years
Renewable Power \| Cogeneration Units [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives, property, plant and equipment	40 years
Renewable Power \| Other [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives, property, plant and equipment	60 years
Real Estate \| Buildings [member] \| Minimum
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives, property, plant and equipment	5 years
Real Estate \| Buildings [member] \| Maximum
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives, property, plant and equipment	50 years
Real Estate \| Land improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives, property, plant and equipment	15 years
Real Estate \| Furniture, Fixtures and Equipment \| Minimum
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives, property, plant and equipment	2 years
Real Estate \| Furniture, Fixtures and Equipment \| Maximum
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives, property, plant and equipment	15 years
Private Equity \| Buildings [member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives, property, plant and equipment	50 years
Private Equity \| Leasehold improvements [member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives, property, plant and equipment	40 years
Private Equity \| Machinery And Equipment1 [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives, property, plant and equipment	20 years
Private Equity \| Ships [member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives, property, plant and equipment	35 years

SIGNIFICANT ACCOUNTING POLICI_5

SIGNIFICANT ACCOUNTING POLICIES SIGNIFICANT ACCOUNTING POLICIES - Intangible Assets Other Than Goodwill (Details) (Details) - Private Equity	12 Months Ended
	Dec. 31, 2020
Water and sewage concession agreements [Member]
Disclosure of detailed information about intangible assets [line items]
Useful Lives Or Amortisation Rates, Intangible Assets Other Than Goodwill, Period	40 years
Brand names [member]
Disclosure of detailed information about intangible assets [line items]
Useful Lives Or Amortisation Rates, Intangible Assets Other Than Goodwill, Period	20 years
Computer software [member]
Disclosure of detailed information about intangible assets [line items]
Useful Lives Or Amortisation Rates, Intangible Assets Other Than Goodwill, Period	10 years
Customer-related intangible assets [member]
Disclosure of detailed information about intangible assets [line items]
Useful Lives Or Amortisation Rates, Intangible Assets Other Than Goodwill, Period	30 years
Value of insurance contracts acquired [Domain]
Disclosure of detailed information about intangible assets [line items]
Useful Lives Or Amortisation Rates, Intangible Assets Other Than Goodwill, Period	15 years
Patents and Trademarks
Disclosure of detailed information about intangible assets [line items]
Useful Lives Or Amortisation Rates, Intangible Assets Other Than Goodwill, Period	40 years
Proprietary Technology
Disclosure of detailed information about intangible assets [line items]
Useful Lives Or Amortisation Rates, Intangible Assets Other Than Goodwill, Period	20 years
Product Development Costs
Disclosure of detailed information about intangible assets [line items]
Useful Lives Or Amortisation Rates, Intangible Assets Other Than Goodwill, Period	5 years
Distribution networks [Member]
Disclosure of detailed information about intangible assets [line items]
Useful Lives Or Amortisation Rates, Intangible Assets Other Than Goodwill, Period	25 years
Loyalty program [Member]
Disclosure of detailed information about intangible assets [line items]
Useful Lives Or Amortisation Rates, Intangible Assets Other Than Goodwill, Period	15 years

SEGMENTED INFORMATION - Narrati

SEGMENTED INFORMATION - Narrative (Details) $ in Millions	12 Months Ended
SEGMENTED INFORMATION - Narrative (Details) $ in Millions	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Disclosure of operating segments [line items]
Revenue	$ 62,752	$ 67,826
Interest expense	(7,213)	(7,227)
Funds From Operations From Equity Accounted Investments	3,091	2,641
Realized disposition gains in fair value changes or equity	1,554	621
Realized disposition gains related to prior periods	499	284
Realized disposition gains recorded directly in equity	$ 1,100	258
Number of operating business groups	5
Number of reportable segments	7
Realized Disposition Gain (Loss), in Fair Value Changes	$ (29)	79
Asset management
Disclosure of operating segments [line items]
Revenue	246	271
Funds From Operations From Equity Accounted Investments	277	43
Private Equity
Disclosure of operating segments [line items]
Revenue	37,161	43,099
Funds From Operations From Equity Accounted Investments	600	320
Elimination of intersegment amounts
Disclosure of operating segments [line items]
Revenue	3,930	2,823
Intersegment interest income and other revenues	42	30
Interest expense	8	53
Elimination of intersegment amounts \| Asset management
Disclosure of operating segments [line items]
Revenue	3,278	2,343
Elimination of intersegment amounts \| Private Equity
Disclosure of operating segments [line items]
Revenue	614	479
Revenue from construction contracts	$ 610	$ 450

SEGMENTED INFORMATION - Financi

SEGMENTED INFORMATION - Financial Information by Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of operating segments [line items]
Net income	$ 707	$ 5,354
Revenue	62,752	67,826
FFO from equity accounted investments	3,091	2,641
Interest expense	(7,213)	(7,227)
Current income taxes	(756)	(970)
Funds from operations	5,180	4,189
Equity	122,642	116,846
Equity accounted investments	41,327	40,698	$ 33,647
Additions to non-current assets1	26,872	62,658
Deferred income taxes	81	(475)
Tax expense (income)	837	495
Realized disposition gains in fair value changes or equity	1,554	621
Non-controlling interests in FFO	(7,546)	(7,161)
Equity Accounted Fair Value Changes And Other Non Funds From Operations	3,170	143
Fair value changes	(1,423)	(831)
Depreciation and amortisation expense	5,791	4,876
Revenue of associate or joint venture	$ 25,237	$ 18,182
Oaktree [Member]
Disclosure of operating segments [line items]
Basis of Calculation	100.00%	100.00%
Oaktree [Member]
Disclosure of operating segments [line items]
Proportion of ownership interest in associate or joint venture	62.00%	61.00%
Revenue of associate or joint venture	$ 1,200	$ 231
Asset management
Disclosure of operating segments [line items]
Revenue	246	271
FFO from equity accounted investments	277	43
Current income taxes	0	0
Funds from operations	1,776	1,597
Equity accounted investments	4,530	4,599
Additions to non-current assets1	64	4,654
Real Estate
Disclosure of operating segments [line items]
Revenue	8,851	10,442
FFO from equity accounted investments	765	1,049
Current income taxes	(82)	(165)
Funds from operations	876	1,185
Equity accounted investments	21,024	22,314
Additions to non-current assets1	10,117	17,915
Renewable Power
Disclosure of operating segments [line items]
Revenue	4,085	3,959
FFO from equity accounted investments	116	74
Current income taxes	(66)	(73)
Funds from operations	1,044	333
Equity accounted investments	1,444	1,154
Additions to non-current assets1	1,677	2,207
Revenue of associate or joint venture	737	431
Infrastructure
Disclosure of operating segments [line items]
Revenue	9,294	7,091
FFO from equity accounted investments	1,329	1,100
Current income taxes	(247)	(255)
Funds from operations	569	464
Equity accounted investments	10,530	8,972
Additions to non-current assets1	11,200	17,352
Private Equity
Disclosure of operating segments [line items]
Revenue	37,161	43,099
FFO from equity accounted investments	600	320
Current income taxes	(286)	(326)
Funds from operations	935	844
Equity accounted investments	2,623	2,596
Additions to non-current assets1	3,535	19,825
Residential Development
Disclosure of operating segments [line items]
Revenue	2,243	2,456
FFO from equity accounted investments	21	41
Current income taxes	(8)	(37)
Funds from operations	66	125
Equity accounted investments	346	382
Additions to non-current assets1	45	88
Corporate Activities
Disclosure of operating segments [line items]
Revenue	872	508
FFO from equity accounted investments	(17)	14
Current income taxes	(67)	(114)
Funds from operations	(86)	(359)
Equity accounted investments	830	681
Additions to non-current assets1	234	617
Elimination of intersegment amounts
Disclosure of operating segments [line items]
Revenue	3,930	2,823
Interest expense	8	53
Elimination of intersegment amounts \| Asset management
Disclosure of operating segments [line items]
Revenue	3,278	2,343
Elimination of intersegment amounts \| Real Estate
Disclosure of operating segments [line items]
Revenue	32	33
Elimination of intersegment amounts \| Renewable Power
Disclosure of operating segments [line items]
Revenue	0	15
Elimination of intersegment amounts \| Infrastructure
Disclosure of operating segments [line items]
Revenue	7	2
Elimination of intersegment amounts \| Private Equity
Disclosure of operating segments [line items]
Revenue	614	479
Elimination of intersegment amounts \| Residential Development
Disclosure of operating segments [line items]
Revenue	0	0
Elimination of intersegment amounts \| Corporate Activities
Disclosure of operating segments [line items]
Revenue	(1)	(49)
Operating segments
Disclosure of operating segments [line items]
Revenue	66,682	70,649
Interest expense	(7,216)	(7,280)
Operating segments \| Asset management
Disclosure of operating segments [line items]
Revenue	3,524	2,614
Interest expense	0	0
Operating segments \| Real Estate
Disclosure of operating segments [line items]
Revenue	8,883	10,475
Interest expense	(3,117)	(3,469)
Operating segments \| Renewable Power
Disclosure of operating segments [line items]
Revenue	4,085	3,974
Interest expense	(885)	(923)
Operating segments \| Infrastructure
Disclosure of operating segments [line items]
Revenue	9,301	7,093
Interest expense	(1,224)	(937)
Operating segments \| Private Equity
Disclosure of operating segments [line items]
Revenue	37,775	43,578
Interest expense	(1,573)	(1,536)
Operating segments \| Residential Development
Disclosure of operating segments [line items]
Revenue	2,243	2,456
Interest expense	(29)	(66)
Operating segments \| Corporate Activities
Disclosure of operating segments [line items]
Revenue	871	459
Interest expense	(388)	(349)
Common equity \| Common shares
Disclosure of operating segments [line items]
Equity	31,693	30,868
Common equity \| Common shares \| Asset management
Disclosure of operating segments [line items]
Equity	4,947	4,927
Common equity \| Common shares \| Real Estate
Disclosure of operating segments [line items]
Equity	19,331	18,781
Common equity \| Common shares \| Renewable Power
Disclosure of operating segments [line items]
Equity	5,154	5,320
Common equity \| Common shares \| Infrastructure
Disclosure of operating segments [line items]
Equity	2,552	2,792
Common equity \| Common shares \| Private Equity
Disclosure of operating segments [line items]
Equity	3,965	4,086
Common equity \| Common shares \| Residential Development
Disclosure of operating segments [line items]
Equity	2,730	2,859
Common equity \| Common shares \| Corporate Activities
Disclosure of operating segments [line items]
Equity	$ (6,986)	$ (7,897)

SEGMENTED INFORMATION - Reconci

SEGMENTED INFORMATION - Reconciliation of FFO to Equity Accounted Investments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of operating segments [abstract]
Consolidated equity accounted income (loss)	$ (79)
Non-FFO items from equity accounted investments	3,170	$ 143
FFO from equity accounted investments	$ 3,091	$ 2,641

SEGMENTED INFORMATION - Schedul

SEGMENTED INFORMATION - Schedule of components of income tax expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of operating segments [abstract]
Current income tax expense	$ (756)	$ (970)
Deferred income tax (expense) recovery	(81)	475
Income tax (expense) recovery	$ (837)	$ (495)

SEGMENTED INFORMATION - Recon_2

SEGMENTED INFORMATION - Reconciliation of FFO to Net Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of operating segments [abstract]
Net income	$ 707	$ 5,354
Realized disposition gains in fair value changes or equity	1,554	621
Non-controlling interests in FFO	(7,546)	(7,161)
Financial statement components not included in FFO
Equity Accounted Fair Value Changes And Other Non Funds From Operations	3,170	143
Fair value changes	1,423	831
Depreciation and amortization	5,791	4,876
Deferred income taxes	81	(475)
Total FFO	$ 5,180	$ 4,189

SEGMENTED INFORMATION - Revenue

SEGMENTED INFORMATION - Revenue Allocation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of geographical areas [line items]
Revenue	$ 62,752	$ 67,826
UNITED STATES
Disclosure of geographical areas [line items]
Revenue	18,048	16,584
Canada
Disclosure of geographical areas [line items]
Revenue	5,906	6,202
United Kingdom
Disclosure of geographical areas [line items]
Revenue	16,032	21,847
Other Europe
Disclosure of geographical areas [line items]
Revenue	6,191	6,285
Australia
Disclosure of geographical areas [line items]
Revenue	5,528	5,522
Brazil
Disclosure of geographical areas [line items]
Revenue	3,323	4,099
INDIA
Disclosure of geographical areas [line items]
Revenue	1,284	803
Other Asia
Disclosure of geographical areas [line items]
Revenue	2,388	1,599
Colombia
Disclosure of geographical areas [line items]
Revenue	1,762	2,095
Other
Disclosure of geographical areas [line items]
Revenue	$ 2,290	$ 2,790

SEGMENTED INFORMATION - Asset A

SEGMENTED INFORMATION - Asset Allocation (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Disclosure of products and services [line items]
Assets	$ 343,696	$ 323,969
UNITED STATES
Disclosure of products and services [line items]
Assets	159,684	149,687
Canada
Disclosure of products and services [line items]
Assets	36,403	35,840
United Kingdom
Disclosure of products and services [line items]
Assets	31,598	30,184
Brazil
Disclosure of products and services [line items]
Assets	20,675	24,354
Other Europe
Disclosure of products and services [line items]
Assets	22,267	19,404
Australia
Disclosure of products and services [line items]
Assets	22,000	22,971
INDIA
Disclosure of products and services [line items]
Assets	21,438	9,089
Other Asia
Disclosure of products and services [line items]
Assets	9,343	8,379
Colombia
Disclosure of products and services [line items]
Assets	10,919	10,819
Other
Disclosure of products and services [line items]
Assets	$ 9,369	$ 13,242

SUBSIDIARIES - Schedule Of Non-

SUBSIDIARIES - Schedule Of Non-Controlling Interests In Subsidiaries With Significant Non-Controlling Interests (Details)	Jan. 04, 2021	Dec. 31, 2020	Dec. 31, 2019
Brookfield Property Partners L.P. (“BPY”)
Disclosure of subsidiaries [line items]
Ownership Interest Held by Non-Controlling Interest	100.00%	38.30%	44.80%
Brookfield Renewable Partners L.P. (“BEP”)3
Disclosure of subsidiaries [line items]
Ownership Interest Held by Non-Controlling Interest		49.30%	39.50%
Brookfield Infrastructure Partners L.P. (“BIP”)4
Disclosure of subsidiaries [line items]
Ownership Interest Held by Non-Controlling Interest		71.50%	70.40%
Brookfield Business Partners L.P. (“BBU”)
Disclosure of subsidiaries [line items]
Ownership Interest Held by Non-Controlling Interest		36.50%	37.30%

SUBSIDIARIES - Narrative (Detai

SUBSIDIARIES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
SUBSIDIARIES - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about business combination [table]
Revenue of acquired entities since acquisition date	$ 621	$ 7,600
Profit (loss) of acquired entities since acquisition date	10	635
Revenue of combined entity as if combination occurred at beginning of period	1,600	14,700
Profit (loss) of combined entity as if combination occurred at beginning of period	$ 25	$ 189

SUBSIDIARIES - Schedule of Comp

SUBSIDIARIES - Schedule of Composition Of Accumulated Non-Controlling Interest (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Disclosure of subsidiaries [line items]
Equity	$ 122,642	$ 116,846
Equity	122,642	116,846
BPY
Disclosure of subsidiaries [line items]
Equity	25,986	29,165
Equity	25,986	29,165
BEP
Disclosure of subsidiaries [line items]
Equity	17,194	13,321
Equity	17,194	13,321
BIP
Disclosure of subsidiaries [line items]
Equity	19,753	20,036
Equity	19,753	20,036
BBU
Disclosure of subsidiaries [line items]
Equity	9,162	8,664
Equity	9,162	8,664
Non-controlling interests
Disclosure of subsidiaries [line items]
Equity	86,804	81,833
Equity	86,804	81,833
Non-controlling interests \| BPY
Disclosure of subsidiaries [line items]
Equity	25,986	29,165
Equity	25,986	29,165
Non-controlling interests \| BEP
Disclosure of subsidiaries [line items]
Equity	17,194	13,321
Equity	17,194	13,321
Non-controlling interests \| BIP
Disclosure of subsidiaries [line items]
Equity	19,753	20,036
Equity	19,753	20,036
Non-controlling interests \| BBU
Disclosure of subsidiaries [line items]
Equity	9,162	8,664
Equity	9,162	8,664
Non-controlling interests \| Individually immaterial subsidiaries with non-controlling interests
Disclosure of subsidiaries [line items]
Equity	14,709	10,647
Equity	$ 14,709	$ 10,647

SUBSIDIARIES - Schedule Of Summ

SUBSIDIARIES - Schedule Of Summarized Financial Information Before Intra-Group Eliminations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of subsidiaries [line items]
Non-controlling interests	$ (122,642)	$ (116,846)
Revenue	62,752	67,826
Net income (loss) attributable to:
Non-controlling interests	841	2,547
Shareholders	(134)	2,807
Net income	707	5,354
Other comprehensive income (loss) attributable to:
Shareholders	818	524
Other comprehensive income	2,313	2,712
Equity	122,642	116,846
BPY
Disclosure of subsidiaries [line items]
Current assets	5,009	3,289
Non-current assets	102,942	108,354
Current liabilities	(18,220)	(12,466)
Non-current liabilities	(48,208)	(54,242)
Non-controlling interests	(25,986)	(29,165)
Revenue	6,593	8,203
Net income (loss) attributable to:
Non-controlling interests	(673)	2,091
Shareholders	(1,385)	1,066
Net income	(2,058)	3,157
Other comprehensive income (loss) attributable to:
Non-controlling interests	153	234
Shareholders	261	89
Other comprehensive income	414	323
Equity	25,986	29,165
BEP
Disclosure of subsidiaries [line items]
Current assets	1,742	1,474
Non-current assets	47,980	34,217
Current liabilities	(2,876)	(1,678)
Non-current liabilities	(25,079)	(15,882)
Non-controlling interests	(17,194)	(13,321)
Revenue	3,810	2,980
Net income (loss) attributable to:
Non-controlling interests	162	348
Shareholders	(207)	(75)
Net income	(45)	273
Other comprehensive income (loss) attributable to:
Non-controlling interests	1,621	1,179
Shareholders	653	546
Other comprehensive income	2,274	1,725
Equity	17,194	13,321
BIP
Disclosure of subsidiaries [line items]
Current assets	3,711	5,841
Non-current assets	57,620	50,467
Current liabilities	(5,524)	(5,439)
Non-current liabilities	(34,134)	(28,692)
Non-controlling interests	(19,753)	(20,036)
Revenue	8,885	6,597
Net income (loss) attributable to:
Non-controlling interests	863	636
Shareholders	41	14
Net income	904	650
Other comprehensive income (loss) attributable to:
Non-controlling interests	(82)	486
Shareholders	20	104
Other comprehensive income	(62)	590
Equity	19,753	20,036
BBU
Disclosure of subsidiaries [line items]
Current assets	14,493	12,795
Non-current assets	40,253	38,956
Current liabilities	(12,133)	(11,024)
Non-current liabilities	(31,276)	(29,674)
Non-controlling interests	(9,162)	(8,664)
Revenue	37,635	43,032
Net income (loss) attributable to:
Non-controlling interests	686	353
Shareholders	(106)	81
Net income	580	434
Other comprehensive income (loss) attributable to:
Non-controlling interests	25	(159)
Shareholders	47	(39)
Other comprehensive income	72	(198)
Equity	9,162	8,664
Non-controlling interests
Disclosure of subsidiaries [line items]
Non-controlling interests	(86,804)	(81,833)
Net income (loss) attributable to:
Non-controlling interests	841	2,547
Other comprehensive income (loss) attributable to:
Non-controlling interests	1,495	2,188
Equity	86,804	81,833
Non-controlling interests \| BPY
Disclosure of subsidiaries [line items]
Non-controlling interests	(25,986)	(29,165)
Other comprehensive income (loss) attributable to:
Equity	25,986	29,165
Non-controlling interests \| BEP
Disclosure of subsidiaries [line items]
Non-controlling interests	(17,194)	(13,321)
Other comprehensive income (loss) attributable to:
Equity	17,194	13,321
Non-controlling interests \| BIP
Disclosure of subsidiaries [line items]
Non-controlling interests	(19,753)	(20,036)
Other comprehensive income (loss) attributable to:
Equity	19,753	20,036
Non-controlling interests \| BBU
Disclosure of subsidiaries [line items]
Non-controlling interests	(9,162)	(8,664)
Other comprehensive income (loss) attributable to:
Equity	9,162	8,664
Equity attributable to Brookfield \| BPY
Disclosure of subsidiaries [line items]
Non-controlling interests	(15,537)	(15,770)
Other comprehensive income (loss) attributable to:
Equity	15,537	15,770
Equity attributable to Brookfield \| BEP
Disclosure of subsidiaries [line items]
Non-controlling interests	(4,573)	(4,810)
Other comprehensive income (loss) attributable to:
Equity	4,573	4,810
Equity attributable to Brookfield \| BIP
Disclosure of subsidiaries [line items]
Non-controlling interests	(1,920)	(2,141)
Other comprehensive income (loss) attributable to:
Equity	1,920	2,141
Equity attributable to Brookfield \| BBU
Disclosure of subsidiaries [line items]
Non-controlling interests	(2,175)	(2,389)
Other comprehensive income (loss) attributable to:
Equity	$ 2,175	$ 2,389

SUBSIDIARIES - Schedule Of Cash

SUBSIDIARIES - Schedule Of Cash Flow With Material Non-Controlling Interests (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash flows from (used in):
Operating activities	$ 8,341	$ 6,328
Financing activities	8,698	28,746
Investing activities	(13,873)	(36,674)
Operating activities	8,341	6,328
Financing activities	8,698	28,746
Investing activities	(13,873)	(36,674)
Revenue of acquired entities since acquisition date	621	7,600
BPY
Cash flows from (used in):
Operating activities	1,332	624
Financing activities	(215)	(892)
Investing activities	(99)	(1,611)
Distributions paid to non-controlling interests in common equity	528	576
Operating activities	1,332	624
Financing activities	(215)	(892)
Investing activities	(99)	(1,611)
Dividends paid to non-controlling interests	528	576
BEP
Cash flows from (used in):
Operating activities	1,296	1,212
Financing activities	(792)	(1,010)
Investing activities	(426)	(251)
Distributions paid to non-controlling interests in common equity	323	254
Operating activities	1,296	1,212
Financing activities	(792)	(1,010)
Investing activities	(426)	(251)
Dividends paid to non-controlling interests	323	254
BIP
Cash flows from (used in):
Operating activities	2,530	2,143
Financing activities	2,126	9,542
Investing activities	(4,609)	(11,372)
Distributions paid to non-controlling interests in common equity	642	628
Operating activities	2,530	2,143
Financing activities	2,126	9,542
Investing activities	(4,609)	(11,372)
Dividends paid to non-controlling interests	642	628
BBU
Cash flows from (used in):
Operating activities	4,205	2,163
Financing activities	(1,077)	15,925
Investing activities	(2,334)	(17,939)
Distributions paid to non-controlling interests in common equity	13	13
Operating activities	4,205	2,163
Financing activities	(1,077)	15,925
Investing activities	(2,334)	(17,939)
Dividends paid to non-controlling interests	$ 13	$ 13

ACQUISITIONS OF CONSOLIDATED _3

ACQUISITIONS OF CONSOLIDATED ENTITIES - Schedule of Balance Sheet Impact On Business Combinations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about business combination [line items]
Equity accounted investments		$ 895
Investment properties	$ 0	3,669
Less:
Goodwill	14,714	14,550	$ 8,815
Financial assets pledged as collateral for liabilities or contingent liabilities	9,700	7,000
Accounts payable and other
Less:
Financial instruments designated as hedging instruments, at fair value	$ 2,400	1,300
Accounts receivable and other
Less:
Description of financial instruments designated as hedging instruments	888 million
Financial instruments designated as hedging instruments, at fair value		950
Private Equity
Less:
Goodwill	$ 5,244	5,218
Infrastructure
Less:
Goodwill	6,634	6,553
Renewable Power
Less:
Goodwill	970	977
Real Estate
Less:
Goodwill	1,404	1,357
Total
Disclosure of detailed information about business combination [line items]
Cash and cash equivalents	143	475
Accounts receivable and other	1,925	7,483
Inventory	67	2,363
Property, plant and equipment	8,079	17,453
Deferred income tax assets	46	409
Total assets	11,030	50,789
Less:
Accounts payable and other	(2,800)	(9,945)
Non-recourse borrowings	(3,842)	(3,920)
Deferred income tax liabilities	(34)	(2,426)
Non-controlling interests	(274)	(2,665)
Total liabilities	(6,950)	(18,956)
Net assets acquired	4,080	31,833
Consideration	4,080	31,829
Cash and cash equivalents recognised as of acquisition date	143	475
Assets classified as held for sale		1,584
Identifiable Assets Acquired Recognised As Of Acquisition Date	11,030	50,789
Trade and other payables recognised as of acquisition date	2,800	9,945
Borrowings recognised as of acquisition date	3,842	3,920
Deferred tax liabilities recognised as of acquisition date	34	2,426
Non-controlling interest in acquiree recognised at acquisition date	274	2,665
Liabilities Recognized as of Acquisition Date	6,950	18,956
Identifiable assets acquired (liabilities assumed)	4,080	31,833
Consideration transferred, acquisition-date fair value	4,080	31,829
Total \| Private Equity
Disclosure of detailed information about business combination [line items]
Cash and cash equivalents	105	344
Accounts receivable and other	1,441	6,706
Inventory	12	2,230
Equity accounted investments		847
Investment properties		0
Property, plant and equipment	84	6,650
Intangible assets	27	7,057
Deferred income tax assets	31	363
Total assets	1,763	27,676
Less:
Accounts payable and other	(55)	(5,025)
Non-recourse borrowings	(1,016)	(1,084)
Deferred income tax liabilities	0	(1,142)
Non-controlling interests	(227)	(1,749)
Total liabilities	(1,298)	(9,000)
Net assets acquired	465	18,676
Consideration	465	18,672
Goodwill	63	3,479
Cash and cash equivalents recognised as of acquisition date	105	344
Assets classified as held for sale		0
Identifiable intangible assets recognised as of acquisition date	27	7,057
Identifiable Assets Acquired Recognised As Of Acquisition Date	1,763	27,676
Trade and other payables recognised as of acquisition date	55	5,025
Borrowings recognised as of acquisition date	1,016	1,084
Deferred tax liabilities recognised as of acquisition date	0	1,142
Non-controlling interest in acquiree recognised at acquisition date	227	1,749
Liabilities Recognized as of Acquisition Date	1,298	9,000
Identifiable assets acquired (liabilities assumed)	465	18,676
Consideration transferred, acquisition-date fair value	465	18,672
Total \| Infrastructure
Disclosure of detailed information about business combination [line items]
Cash and cash equivalents	0	94
Accounts receivable and other	408	553
Inventory	0	74
Equity accounted investments		48
Investment properties		211
Property, plant and equipment	7,334	8,710
Intangible assets	532	3,248
Deferred income tax assets	0	46
Total assets	8,301	17,212
Less:
Accounts payable and other	(2,518)	(2,425)
Non-recourse borrowings	(2,356)	(1,980)
Deferred income tax liabilities	(22)	(1,248)
Non-controlling interests	0	(828)
Total liabilities	(4,896)	(6,481)
Net assets acquired	3,405	10,731
Consideration	3,405	10,731
Goodwill	27	2,644
Cash and cash equivalents recognised as of acquisition date	0	94
Assets classified as held for sale		1,584
Identifiable intangible assets recognised as of acquisition date	532	3,248
Identifiable Assets Acquired Recognised As Of Acquisition Date	8,301	17,212
Trade and other payables recognised as of acquisition date	2,518	2,425
Borrowings recognised as of acquisition date	2,356	1,980
Deferred tax liabilities recognised as of acquisition date	22	1,248
Non-controlling interest in acquiree recognised at acquisition date	0	828
Liabilities Recognized as of Acquisition Date	4,896	6,481
Identifiable assets acquired (liabilities assumed)	3,405	10,731
Consideration transferred, acquisition-date fair value	3,405	10,731
Total \| Real Estate
Disclosure of detailed information about business combination [line items]
Cash and cash equivalents		31
Accounts receivable and other		114
Inventory		46
Equity accounted investments		0
Investment properties		3,458
Property, plant and equipment		785
Intangible assets		28
Deferred income tax assets		0
Total assets		4,464
Less:
Accounts payable and other		(2,394)
Non-recourse borrowings		(537)
Deferred income tax liabilities		0
Non-controlling interests		(88)
Total liabilities		(3,019)
Net assets acquired		1,445
Consideration		1,445
Goodwill		2
Cash and cash equivalents recognised as of acquisition date		31
Assets classified as held for sale		0
Identifiable intangible assets recognised as of acquisition date		28
Identifiable Assets Acquired Recognised As Of Acquisition Date		4,464
Trade and other payables recognised as of acquisition date		2,394
Borrowings recognised as of acquisition date		537
Deferred tax liabilities recognised as of acquisition date		0
Non-controlling interest in acquiree recognised at acquisition date		88
Liabilities Recognized as of Acquisition Date		3,019
Identifiable assets acquired (liabilities assumed)		1,445
Consideration transferred, acquisition-date fair value		1,445
Total \| Renewable Power and Other
Disclosure of detailed information about business combination [line items]
Cash and cash equivalents	38	6
Accounts receivable and other	76	110
Inventory	55	13
Equity accounted investments		0
Investment properties		0
Property, plant and equipment	661	1,308
Intangible assets	66	0
Deferred income tax assets	15	0
Total assets	966	1,437
Less:
Accounts payable and other	(227)	(101)
Non-recourse borrowings	(470)	(319)
Deferred income tax liabilities	(12)	(36)
Non-controlling interests	(47)	0
Total liabilities	(756)	(456)
Net assets acquired	210	981
Consideration	210	981
Goodwill	55	0
Cash and cash equivalents recognised as of acquisition date	38	6
Assets classified as held for sale		0
Identifiable intangible assets recognised as of acquisition date	66	0
Identifiable Assets Acquired Recognised As Of Acquisition Date	966	1,437
Trade and other payables recognised as of acquisition date	227	101
Borrowings recognised as of acquisition date	470	319
Deferred tax liabilities recognised as of acquisition date	12	36
Non-controlling interest in acquiree recognised at acquisition date	47	0
Liabilities Recognized as of Acquisition Date	756	456
Identifiable assets acquired (liabilities assumed)	210	981
Consideration transferred, acquisition-date fair value	210	981
Costs
Disclosure of detailed information about business combination [line items]
Intangible assets	625	10,333
Less:
Goodwill	15,539	15,412	$ 9,198
Identifiable intangible assets recognised as of acquisition date	$ 625	10,333
Costs \| Total
Less:
Goodwill		$ 6,125

ACQUISITIONS OF CONSOLIDATED _4

ACQUISITIONS OF CONSOLIDATED ENTITIES - Narrative (Details) - USD ($) $ in Millions	Dec. 30, 2019	Dec. 12, 2019	Nov. 29, 2019	Sep. 26, 2019	Jun. 06, 2019	Apr. 30, 2019	Mar. 22, 2019	Dec. 31, 2020	Dec. 31, 2019	Aug. 31, 2020	Dec. 31, 2018
Disclosure of detailed information about business combination [line items]
Revenue of acquired entities since acquisition date								$ 621	$ 7,600
Profit (loss) of acquired entities since acquisition date								10	635
Goodwill								14,714	14,550		$ 8,815
Revenue of combined entity as if combination occurred at beginning of period								1,600	14,700
Net income (loss) of combined entity as if combination occurred at beginning of period								(25)	(189)
Equity accounted investments									895
Investment properties								0	3,669
Profit (loss) of combined entity as if combination occurred at beginning of period								25	189
Cash flow hedges
Disclosure of detailed information about business combination [line items]
Gains (losses) on cash flow hedges, before tax								(479)	(89)
Business combinations [member]
Disclosure of detailed information about business combination [line items]
Cash and cash equivalents recognised as of acquisition date								143	475
Total consideration								4,080	31,829
Identifiable Assets Acquired Recognised As Of Acquisition Date								11,030	50,789
Property, plant and equipment								8,079	17,453
Deferred tax liabilities recognised as of acquisition date								34	2,426
Liabilities Recognized as of Acquisition Date								6,950	18,956
Borrowings recognised as of acquisition date								3,842	3,920
Accounts receivable and other								1,925	7,483
Inventory								67	2,363
Deferred income tax assets								46	409
Accounts payable and other								(2,800)	(9,945)
Non-controlling interests								(274)	(2,665)
Identifiable assets acquired (liabilities assumed)								4,080	31,833
Consideration transferred, acquisition-date fair value								4,080	31,829
Real Estate
Disclosure of detailed information about business combination [line items]
Goodwill								1,404	1,357
Real Estate \| Business combinations [member]
Disclosure of detailed information about business combination [line items]
Cash and cash equivalents recognised as of acquisition date									31
Total consideration									1,445
Goodwill									2
Identifiable Assets Acquired Recognised As Of Acquisition Date									4,464
Property, plant and equipment									785
Deferred tax liabilities recognised as of acquisition date									0
Liabilities Recognized as of Acquisition Date									3,019
Borrowings recognised as of acquisition date									537
Accounts receivable and other									114
Inventory									46
Equity accounted investments									0
Investment properties									3,458
Identifiable intangible assets recognised as of acquisition date									28
Deferred income tax assets									0
Accounts payable and other									(2,394)
Non-controlling interests									(88)
Identifiable assets acquired (liabilities assumed)									1,445
Consideration transferred, acquisition-date fair value									1,445
Real Estate \| GGP Inc. (“GGP”)
Disclosure of detailed information about business combination [line items]
Cash and cash equivalents recognised as of acquisition date								27
Total consideration			$ 724					724
Goodwill								0
Revenue of combined entity as if combination occurred at beginning of period			174
Net income (loss) of combined entity as if combination occurred at beginning of period			(4)
Identifiable Assets Acquired Recognised As Of Acquisition Date								3,717
Property, plant and equipment								95
Cash consideration			$ 658
Percentage of interests acquired			84.00%
Deferred tax liabilities recognised as of acquisition date								0
Liabilities Recognized as of Acquisition Date								2,993
Borrowings recognised as of acquisition date								537
Accounts receivable and other								92
Assets Classified as Held for Sale of Acquisition Date								0
Inventory								43
Equity accounted investments								0
Investment properties								3,458
Identifiable intangible assets recognised as of acquisition date								2
Deferred income tax assets								0
Accounts payable and other								(2,368)
Non-controlling interests								(88)
Identifiable assets acquired (liabilities assumed)								724
Consideration transferred, acquisition-date fair value			$ 724					724
Profit (loss) of combined entity as if combination occurred at beginning of period			$ 4
Infrastructure
Disclosure of detailed information about business combination [line items]
Goodwill								6,634	6,553
Infrastructure \| Business combinations [member]
Disclosure of detailed information about business combination [line items]
Cash and cash equivalents recognised as of acquisition date								0	94
Total consideration								3,405	10,731
Goodwill								27	2,644
Identifiable Assets Acquired Recognised As Of Acquisition Date								8,301	17,212
Property, plant and equipment								7,334	8,710
Deferred tax liabilities recognised as of acquisition date								22	1,248
Liabilities Recognized as of Acquisition Date								4,896	6,481
Borrowings recognised as of acquisition date								2,356	1,980
Accounts receivable and other								408	553
Inventory								0	74
Equity accounted investments									48
Investment properties									211
Identifiable intangible assets recognised as of acquisition date								532	3,248
Deferred income tax assets								0	46
Accounts payable and other								(2,518)	(2,425)
Non-controlling interests								0	(828)
Identifiable assets acquired (liabilities assumed)								3,405	10,731
Consideration transferred, acquisition-date fair value								3,405	10,731
Infrastructure \| East-West Pipeline Limited (EWPL)
Disclosure of detailed information about business combination [line items]
Cash and cash equivalents recognised as of acquisition date								0
Total consideration							$ 1,900	1,879
Goodwill								0
Revenue of combined entity as if combination occurred at beginning of period							359
Net income (loss) of combined entity as if combination occurred at beginning of period							(65)
Identifiable Assets Acquired Recognised As Of Acquisition Date								2,523
Property, plant and equipment								2,134
Cash consideration	$ 5,400						$ 959
Percentage of interests acquired							100.00%
Deferred tax liabilities recognised as of acquisition date								0
Liabilities Recognized as of Acquisition Date								644
Borrowings recognised as of acquisition date								0
Accounts receivable and other								66
Assets Classified as Held for Sale of Acquisition Date								0
Inventory								28
Equity accounted investments								0
Investment properties								0
Identifiable intangible assets recognised as of acquisition date								295
Deferred income tax assets								0
Accounts payable and other								(66)
Non-controlling interests								(578)
Identifiable assets acquired (liabilities assumed)								1,879
Consideration transferred, acquisition-date fair value							$ 1,900	1,879
Profit (loss) of combined entity as if combination occurred at beginning of period							$ 65
Infrastructure \| Genesee and Wyoming [Member]
Disclosure of detailed information about business combination [line items]
Cash and cash equivalents recognised as of acquisition date								67
Total consideration	6,500							6,526
Goodwill	2,000							2,042
Goodwill expected to be deductible for tax purposes									0
Revenue of combined entity as if combination occurred at beginning of period	2,300
Net income (loss) of combined entity as if combination occurred at beginning of period	$ (235)
Identifiable Assets Acquired Recognised As Of Acquisition Date								11,525
Property, plant and equipment								5,283
Percentage of interests acquired	100.00%
Deferred tax liabilities recognised as of acquisition date								1,111
Liabilities Recognized as of Acquisition Date								4,999
Borrowings recognised as of acquisition date								1,567
Accounts receivable and other								461
Assets Classified as Held for Sale of Acquisition Date								1,584
Inventory								43
Equity accounted investments								48
Investment properties								0
Identifiable intangible assets recognised as of acquisition date								1,992
Deferred income tax assets								5
Accounts payable and other								(2,071)
Non-controlling interests								(250)
Identifiable assets acquired (liabilities assumed)								6,526
Consideration transferred, acquisition-date fair value	$ 6,500							6,526
Profit (loss) of combined entity as if combination occurred at beginning of period	$ 235
Infrastructure \| North River [Member]
Disclosure of detailed information about business combination [line items]
Cash and cash equivalents recognised as of acquisition date								2
Total consideration								1,318
Goodwill								218
Revenue of combined entity as if combination occurred at beginning of period								271
Net income (loss) of combined entity as if combination occurred at beginning of period								(121)
Identifiable Assets Acquired Recognised As Of Acquisition Date								1,536
Property, plant and equipment								1,198
Cash consideration								$ 861
Percentage of interests acquired								100.00%
Deferred tax liabilities recognised as of acquisition date								$ 0
Liabilities Recognized as of Acquisition Date								218
Borrowings recognised as of acquisition date								0
Accounts receivable and other								0
Assets Classified as Held for Sale of Acquisition Date								0
Inventory								3
Equity accounted investments								0
Investment properties								0
Identifiable intangible assets recognised as of acquisition date								74
Deferred income tax assets								41
Accounts payable and other								(218)
Non-controlling interests								0
Identifiable assets acquired (liabilities assumed)								1,318
Consideration transferred, acquisition-date fair value								1,318
Profit (loss) of combined entity as if combination occurred at beginning of period								121
Infrastructure \| Summit Digitel
Disclosure of detailed information about business combination [line items]
Cash and cash equivalents recognised as of acquisition date								0
Total consideration								3,405		$ 3,400
Goodwill								27
Revenue of combined entity as if combination occurred at beginning of period								1,100
Net income (loss) of combined entity as if combination occurred at beginning of period								(9)
Identifiable Assets Acquired Recognised As Of Acquisition Date								8,301
Property, plant and equipment								7,334
Percentage of interests acquired										100.00%
Deferred tax liabilities recognised as of acquisition date								22
Liabilities Recognized as of Acquisition Date								4,896
Borrowings recognised as of acquisition date								2,356
Accounts receivable and other								408
Identifiable intangible assets recognised as of acquisition date								532
Deferred income tax assets								0
Accounts payable and other								(2,518)
Non-controlling interests								0
Identifiable assets acquired (liabilities assumed)								3,405
Consideration transferred, acquisition-date fair value								3,405		$ 3,400
Profit (loss) of combined entity as if combination occurred at beginning of period								9
Renewable Power
Disclosure of detailed information about business combination [line items]
Goodwill								970	977
Renewable Power \| Arcadia [Member]
Disclosure of detailed information about business combination [line items]
Cash and cash equivalents recognised as of acquisition date								3
Total consideration				$ 735				735
Goodwill								0
Revenue of combined entity as if combination occurred at beginning of period				67
Net income (loss) of combined entity as if combination occurred at beginning of period				$ (22)
Identifiable Assets Acquired Recognised As Of Acquisition Date								800
Property, plant and equipment								759
Percentage of interests acquired				100.00%
Deferred tax liabilities recognised as of acquisition date								0
Liabilities Recognized as of Acquisition Date								65
Borrowings recognised as of acquisition date								0
Accounts receivable and other								31
Assets Classified as Held for Sale of Acquisition Date								0
Inventory								7
Equity accounted investments								0
Investment properties								0
Identifiable intangible assets recognised as of acquisition date								0
Deferred income tax assets								0
Accounts payable and other								(65)
Non-controlling interests								0
Identifiable assets acquired (liabilities assumed)								735
Consideration transferred, acquisition-date fair value				$ 735				735
Profit (loss) of combined entity as if combination occurred at beginning of period				$ 22
Private Equity
Disclosure of detailed information about business combination [line items]
Goodwill								5,244	5,218
Private Equity \| Business combinations [member]
Disclosure of detailed information about business combination [line items]
Cash and cash equivalents recognised as of acquisition date								105	344
Total consideration								465	18,672
Goodwill								63	3,479
Identifiable Assets Acquired Recognised As Of Acquisition Date								1,763	27,676
Property, plant and equipment								84	6,650
Deferred tax liabilities recognised as of acquisition date								0	1,142
Liabilities Recognized as of Acquisition Date								1,298	9,000
Borrowings recognised as of acquisition date								1,016	1,084
Accounts receivable and other								1,441	6,706
Inventory								12	2,230
Equity accounted investments									847
Investment properties									0
Identifiable intangible assets recognised as of acquisition date								27	7,057
Deferred income tax assets								31	363
Accounts payable and other								(55)	(5,025)
Non-controlling interests								(227)	(1,749)
Identifiable assets acquired (liabilities assumed)								465	18,676
Consideration transferred, acquisition-date fair value								465	18,672
Private Equity \| Healthscope
Disclosure of detailed information about business combination [line items]
Cash and cash equivalents recognised as of acquisition date								25
Total consideration					$ 4,100			4,055
Goodwill								1,548
Goodwill recognised as of acquisition date					1,500
Goodwill expected to be deductible for tax purposes									$ 0
Revenue of combined entity as if combination occurred at beginning of period					1,600
Net income (loss) of combined entity as if combination occurred at beginning of period					(81)
Identifiable Assets Acquired Recognised As Of Acquisition Date								4,825
Property, plant and equipment								2,590
Cash consideration					1,200
Consideration transferred, acquisition-date asset level debt					$ 2,900
Percentage of interests acquired					100.00%
Deferred tax liabilities recognised as of acquisition date								79
Liabilities Recognized as of Acquisition Date								770
Borrowings recognised as of acquisition date								0
Accounts receivable and other								196
Assets Classified as Held for Sale of Acquisition Date								0
Inventory								41
Equity accounted investments								9
Investment properties								0
Identifiable intangible assets recognised as of acquisition date								280
Deferred income tax assets								136
Accounts payable and other								(691)
Non-controlling interests								0
Identifiable assets acquired (liabilities assumed)								4,055
Consideration transferred, acquisition-date fair value					$ 4,100			4,055
Profit (loss) of combined entity as if combination occurred at beginning of period					$ 81
Private Equity \| Genworth [Member]
Disclosure of detailed information about business combination [line items]
Cash and cash equivalents recognised as of acquisition date								253
Total consideration		$ 1,700						1,674
Goodwill								0
Revenue of combined entity as if combination occurred at beginning of period		677
Net income (loss) of combined entity as if combination occurred at beginning of period		(321)
Identifiable Assets Acquired Recognised As Of Acquisition Date								5,302
Property, plant and equipment								10
Gain recognised in bargain purchase transaction		$ 4
Percentage of interests acquired		57.00%
Deferred tax liabilities recognised as of acquisition date								49
Liabilities Recognized as of Acquisition Date								3,624
Borrowings recognised as of acquisition date								342
Accounts receivable and other								4,796
Assets Classified as Held for Sale of Acquisition Date								0
Inventory								0
Equity accounted investments								0
Investment properties								0
Identifiable intangible assets recognised as of acquisition date								243
Deferred income tax assets								0
Accounts payable and other								(1,954)
Non-controlling interests								(1,279)
Identifiable assets acquired (liabilities assumed)								1,678
Consideration transferred, acquisition-date fair value		$ 1,700						1,674
Profit (loss) of combined entity as if combination occurred at beginning of period		$ 321
Private Equity \| Clarios
Disclosure of detailed information about business combination [line items]
Cash and cash equivalents recognised as of acquisition date								11
Total consideration						$ 12,800		12,770
Goodwill								1,894
Goodwill recognised as of acquisition date						1,900
Goodwill expected to be deductible for tax purposes						20
Revenue of combined entity as if combination occurred at beginning of period						8,300
Net income (loss) of combined entity as if combination occurred at beginning of period						(74)
Identifiable Assets Acquired Recognised As Of Acquisition Date								16,204
Property, plant and equipment								3,582
Cash consideration						2,900
Consideration transferred, acquisition-date asset level debt						$ 9,900
Percentage of interests acquired						100.00%
Deferred tax liabilities recognised as of acquisition date								967
Liabilities Recognized as of Acquisition Date								3,434
Borrowings recognised as of acquisition date								0
Accounts receivable and other								1,503
Assets Classified as Held for Sale of Acquisition Date								0
Inventory								1,775
Equity accounted investments								838
Investment properties								0
Identifiable intangible assets recognised as of acquisition date								6,420
Deferred income tax assets								181
Accounts payable and other								(1,998)
Non-controlling interests								(469)
Identifiable assets acquired (liabilities assumed)								12,770
Consideration transferred, acquisition-date fair value						$ 12,800		12,770
Profit (loss) of combined entity as if combination occurred at beginning of period						$ 74
Private Equity \| IndoStar
Disclosure of detailed information about business combination [line items]
Cash and cash equivalents recognised as of acquisition date								78
Total consideration								295
Goodwill								21
Revenue of combined entity as if combination occurred at beginning of period								175
Net income (loss) of combined entity as if combination occurred at beginning of period								(37)
Identifiable Assets Acquired Recognised As Of Acquisition Date								1,547
Property, plant and equipment								9
Cash consideration								$ 19
Percentage of interests acquired								57.00%
Deferred tax liabilities recognised as of acquisition date								$ 0
Liabilities Recognized as of Acquisition Date								1,252
Borrowings recognised as of acquisition date								1,003
Accounts receivable and other								1,391
Identifiable intangible assets recognised as of acquisition date								20
Deferred income tax assets								28
Accounts payable and other								(30)
Non-controlling interests								(219)
Identifiable assets acquired (liabilities assumed)								295
Consideration transferred, acquisition-date fair value								295
Profit (loss) of combined entity as if combination occurred at beginning of period								37
Equity interests of acquirer								$ 276

ACQUISITIONS OF CONSOLIDATED _5

ACQUISITIONS OF CONSOLIDATED ENTITIES - Schedule of Balance Sheet Impact on Significant Business Combinations (Details) - USD ($) $ in Millions	Dec. 30, 2019	Dec. 12, 2019	Nov. 29, 2019	Sep. 26, 2019	Jun. 06, 2019	Apr. 30, 2019	Mar. 22, 2019	Dec. 31, 2020	Dec. 31, 2019	Aug. 31, 2020	Dec. 31, 2018
Disclosure of detailed information about business combination [line items]
Revenue of acquired entities since acquisition date								$ 621	$ 7,600
Equity accounted investments									895
Investment properties								0	3,669
Goodwill								14,714	14,550		$ 8,815
Less:
Revenue of combined entity as if combination occurred at beginning of period								1,600	14,700
Profit (loss) of combined entity as if combination occurred at beginning of period								25	189
Profit (loss) of acquired entities since acquisition date								10	635
Equity accounted investments									895
Investment properties								0	3,669
Accounts payable and other
Less:
Gross amounts of financial instruments before netting								4,379	2,853
Gross amounts of financial instruments set-off in Consolidated Balance Sheets								(351)	(366)
Net financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements in statement of financial position								4,028	2,487
Accounts receivable and other
Less:
Gross amounts of financial instruments before netting								2,195	2,380
Gross amounts of financial instruments set-off in Consolidated Balance Sheets								(429)	(423)
Net financial assets subject to offsetting, enforceable master netting arrangements or similar agreements in statement of financial position								1,766	1,957
Renewable Power
Disclosure of detailed information about business combination [line items]
Goodwill								970	977
Renewable Power \| Saeta Yield [Member]
Disclosure of detailed information about business combination [line items]
Percentage of interests acquired				100.00%
Cash and cash equivalents recognised as of acquisition date								3
Cash and cash equivalents								3
Accounts receivable and other								31
Assets Classified as Held for Sale of Acquisition Date								0
Inventory								7
Equity accounted investments								0
Investment properties								0
Property, plant and equipment								759
Intangible assets								0
Goodwill								0
Deferred income tax assets								0
Total assets								800
Less:
Accounts payable and other								(65)
Non-recourse borrowings								0
Deferred income tax liabilities								0
Non-controlling interests								0
Total liabilities								(65)
Net assets acquired								735
Consideration				$ 735				735
Revenue of combined entity as if combination occurred at beginning of period				67
Profit (loss) of combined entity as if combination occurred at beginning of period				22
Inventory								7
Equity accounted investments								0
Investment properties								0
Property, plant and equipment								759
Identifiable intangible assets recognised as of acquisition date								0
Deferred income tax assets								0
Identifiable Assets Acquired Recognised As Of Acquisition Date								800
Trade and other payables recognised as of acquisition date								65
Borrowings recognised as of acquisition date								0
Deferred tax liabilities recognised as of acquisition date								0
Non-controlling interest in acquiree recognised at acquisition date								0
Liabilities Recognized as of Acquisition Date								65
Identifiable assets acquired (liabilities assumed)								735
Consideration transferred, acquisition-date fair value				$ 735				735
Private Equity
Disclosure of detailed information about business combination [line items]
Goodwill								5,244	5,218
Private Equity \| Westinghouse [Member]
Disclosure of detailed information about business combination [line items]
Percentage of interests acquired						100.00%
Cash and cash equivalents recognised as of acquisition date								11
Cash and cash equivalents								11
Accounts receivable and other								1,503
Assets Classified as Held for Sale of Acquisition Date								0
Inventory								1,775
Equity accounted investments								838
Investment properties								0
Property, plant and equipment								3,582
Intangible assets								6,420
Goodwill								1,894
Deferred income tax assets								181
Total assets								16,204
Less:
Accounts payable and other								(1,998)
Non-recourse borrowings								0
Deferred income tax liabilities								(967)
Non-controlling interests								(469)
Total liabilities								(3,434)
Net assets acquired								12,770
Consideration						$ 12,800		12,770
Revenue of combined entity as if combination occurred at beginning of period						8,300
Profit (loss) of combined entity as if combination occurred at beginning of period						74
Consideration transferred, acquisition-date asset level debt						9,900
Inventory								1,775
Equity accounted investments								838
Investment properties								0
Property, plant and equipment								3,582
Identifiable intangible assets recognised as of acquisition date								6,420
Deferred income tax assets								181
Identifiable Assets Acquired Recognised As Of Acquisition Date								16,204
Trade and other payables recognised as of acquisition date								1,998
Borrowings recognised as of acquisition date								0
Deferred tax liabilities recognised as of acquisition date								967
Non-controlling interest in acquiree recognised at acquisition date								469
Liabilities Recognized as of Acquisition Date								3,434
Identifiable assets acquired (liabilities assumed)								12,770
Consideration transferred, acquisition-date fair value						$ 12,800		12,770
Private Equity \| Healthscope [Member]
Disclosure of detailed information about business combination [line items]
Percentage of interests acquired					100.00%
Cash and cash equivalents recognised as of acquisition date								25
Cash and cash equivalents								25
Accounts receivable and other								196
Assets Classified as Held for Sale of Acquisition Date								0
Inventory								41
Equity accounted investments								9
Investment properties								0
Property, plant and equipment								2,590
Intangible assets								280
Goodwill								1,548
Deferred income tax assets								136
Total assets								4,825
Less:
Accounts payable and other								(691)
Non-recourse borrowings								0
Deferred income tax liabilities								(79)
Non-controlling interests								0
Total liabilities								(770)
Net assets acquired								4,055
Consideration					$ 4,100			4,055
Revenue of combined entity as if combination occurred at beginning of period					1,600
Profit (loss) of combined entity as if combination occurred at beginning of period					81
Consideration transferred, acquisition-date asset level debt					2,900
Inventory								41
Equity accounted investments								9
Investment properties								0
Property, plant and equipment								2,590
Identifiable intangible assets recognised as of acquisition date								280
Deferred income tax assets								136
Identifiable Assets Acquired Recognised As Of Acquisition Date								4,825
Trade and other payables recognised as of acquisition date								691
Borrowings recognised as of acquisition date								0
Deferred tax liabilities recognised as of acquisition date								79
Non-controlling interest in acquiree recognised at acquisition date								0
Liabilities Recognized as of Acquisition Date								770
Identifiable assets acquired (liabilities assumed)								4,055
Consideration transferred, acquisition-date fair value					$ 4,100			4,055
Private Equity \| Genworth [Member]
Disclosure of detailed information about business combination [line items]
Percentage of interests acquired		57.00%
Cash and cash equivalents recognised as of acquisition date								253
Cash and cash equivalents								253
Accounts receivable and other								4,796
Assets Classified as Held for Sale of Acquisition Date								0
Inventory								0
Equity accounted investments								0
Investment properties								0
Property, plant and equipment								10
Intangible assets								243
Goodwill								0
Deferred income tax assets								0
Total assets								5,302
Less:
Accounts payable and other								(1,954)
Non-recourse borrowings								(342)
Deferred income tax liabilities								(49)
Non-controlling interests								(1,279)
Total liabilities								(3,624)
Net assets acquired								1,678
Consideration		$ 1,700						1,674
Revenue of combined entity as if combination occurred at beginning of period		677
Profit (loss) of combined entity as if combination occurred at beginning of period		321
Inventory								0
Equity accounted investments								0
Investment properties								0
Property, plant and equipment								10
Identifiable intangible assets recognised as of acquisition date								243
Deferred income tax assets								0
Identifiable Assets Acquired Recognised As Of Acquisition Date								5,302
Trade and other payables recognised as of acquisition date								1,954
Borrowings recognised as of acquisition date								342
Deferred tax liabilities recognised as of acquisition date								49
Non-controlling interest in acquiree recognised at acquisition date								1,279
Liabilities Recognized as of Acquisition Date								3,624
Identifiable assets acquired (liabilities assumed)								1,678
Consideration transferred, acquisition-date fair value		$ 1,700						$ 1,674
Private Equity \| IndoStar
Disclosure of detailed information about business combination [line items]
Percentage of interests acquired								57.00%
Cash and cash equivalents recognised as of acquisition date								$ 78
Cash and cash equivalents								78
Accounts receivable and other								1,391
Property, plant and equipment								9
Intangible assets								20
Goodwill								21
Deferred income tax assets								28
Total assets								1,547
Less:
Accounts payable and other								(30)
Non-recourse borrowings								(1,003)
Deferred income tax liabilities								0
Non-controlling interests								(219)
Total liabilities								(1,252)
Net assets acquired								295
Consideration								295
Revenue of combined entity as if combination occurred at beginning of period								175
Profit (loss) of combined entity as if combination occurred at beginning of period								37
Property, plant and equipment								9
Identifiable intangible assets recognised as of acquisition date								20
Deferred income tax assets								28
Identifiable Assets Acquired Recognised As Of Acquisition Date								1,547
Trade and other payables recognised as of acquisition date								30
Borrowings recognised as of acquisition date								1,003
Deferred tax liabilities recognised as of acquisition date								0
Non-controlling interest in acquiree recognised at acquisition date								219
Liabilities Recognized as of Acquisition Date								1,252
Identifiable assets acquired (liabilities assumed)								295
Consideration transferred, acquisition-date fair value								295
Infrastructure
Disclosure of detailed information about business combination [line items]
Goodwill								6,634	6,553
Infrastructure \| East-West Pipeline Limited (EWPL) [Member]
Disclosure of detailed information about business combination [line items]
Percentage of interests acquired							100.00%
Cash and cash equivalents recognised as of acquisition date								0
Cash and cash equivalents								0
Accounts receivable and other								66
Assets Classified as Held for Sale of Acquisition Date								0
Inventory								28
Equity accounted investments								0
Investment properties								0
Property, plant and equipment								2,134
Intangible assets								295
Goodwill								0
Deferred income tax assets								0
Total assets								2,523
Less:
Accounts payable and other								(66)
Non-recourse borrowings								0
Deferred income tax liabilities								0
Non-controlling interests								(578)
Total liabilities								(644)
Net assets acquired								1,879
Consideration							$ 1,900	1,879
Revenue of combined entity as if combination occurred at beginning of period							359
Profit (loss) of combined entity as if combination occurred at beginning of period							65
Inventory								28
Equity accounted investments								0
Investment properties								0
Property, plant and equipment								2,134
Identifiable intangible assets recognised as of acquisition date								295
Deferred income tax assets								0
Identifiable Assets Acquired Recognised As Of Acquisition Date								2,523
Trade and other payables recognised as of acquisition date								66
Borrowings recognised as of acquisition date								0
Deferred tax liabilities recognised as of acquisition date								0
Non-controlling interest in acquiree recognised at acquisition date								578
Liabilities Recognized as of Acquisition Date								644
Identifiable assets acquired (liabilities assumed)								1,879
Consideration transferred, acquisition-date fair value							$ 1,900	1,879
Infrastructure \| Genesee and Wyoming [Member]
Disclosure of detailed information about business combination [line items]
Percentage of interests acquired	100.00%
Cash and cash equivalents recognised as of acquisition date								67
Cash and cash equivalents								67
Accounts receivable and other								461
Assets Classified as Held for Sale of Acquisition Date								1,584
Inventory								43
Equity accounted investments								48
Investment properties								0
Property, plant and equipment								5,283
Intangible assets								1,992
Goodwill	$ 2,000							2,042
Deferred income tax assets								5
Total assets								11,525
Less:
Accounts payable and other								(2,071)
Non-recourse borrowings								(1,567)
Deferred income tax liabilities								(1,111)
Non-controlling interests								(250)
Total liabilities								(4,999)
Net assets acquired								6,526
Consideration	6,500							6,526
Revenue of combined entity as if combination occurred at beginning of period	2,300
Profit (loss) of combined entity as if combination occurred at beginning of period	235
Inventory								43
Equity accounted investments								48
Investment properties								0
Property, plant and equipment								5,283
Identifiable intangible assets recognised as of acquisition date								1,992
Deferred income tax assets								5
Identifiable Assets Acquired Recognised As Of Acquisition Date								11,525
Trade and other payables recognised as of acquisition date								2,071
Borrowings recognised as of acquisition date								1,567
Deferred tax liabilities recognised as of acquisition date								1,111
Non-controlling interest in acquiree recognised at acquisition date								250
Liabilities Recognized as of Acquisition Date								4,999
Identifiable assets acquired (liabilities assumed)								6,526
Consideration transferred, acquisition-date fair value	$ 6,500							$ 6,526
Infrastructure \| North River [Member]
Disclosure of detailed information about business combination [line items]
Percentage of interests acquired								100.00%
Cash and cash equivalents recognised as of acquisition date								$ 2
Cash and cash equivalents								2
Accounts receivable and other								0
Assets Classified as Held for Sale of Acquisition Date								0
Inventory								3
Equity accounted investments								0
Investment properties								0
Property, plant and equipment								1,198
Intangible assets								74
Goodwill								218
Deferred income tax assets								41
Total assets								1,536
Less:
Accounts payable and other								(218)
Non-recourse borrowings								0
Deferred income tax liabilities								0
Non-controlling interests								0
Total liabilities								(218)
Net assets acquired								1,318
Consideration								1,318
Revenue of combined entity as if combination occurred at beginning of period								271
Profit (loss) of combined entity as if combination occurred at beginning of period								121
Inventory								3
Equity accounted investments								0
Investment properties								0
Property, plant and equipment								1,198
Identifiable intangible assets recognised as of acquisition date								74
Deferred income tax assets								41
Identifiable Assets Acquired Recognised As Of Acquisition Date								1,536
Trade and other payables recognised as of acquisition date								218
Borrowings recognised as of acquisition date								0
Deferred tax liabilities recognised as of acquisition date								0
Non-controlling interest in acquiree recognised at acquisition date								0
Liabilities Recognized as of Acquisition Date								218
Identifiable assets acquired (liabilities assumed)								1,318
Consideration transferred, acquisition-date fair value								1,318
Infrastructure \| Summit Digitel
Disclosure of detailed information about business combination [line items]
Percentage of interests acquired										100.00%
Cash and cash equivalents recognised as of acquisition date								0
Cash and cash equivalents								0
Accounts receivable and other								408
Property, plant and equipment								7,334
Intangible assets								532
Goodwill								27
Deferred income tax assets								0
Total assets								8,301
Less:
Accounts payable and other								(2,518)
Non-recourse borrowings								(2,356)
Deferred income tax liabilities								(22)
Non-controlling interests								0
Total liabilities								(4,896)
Net assets acquired								3,405
Consideration								3,405		$ 3,400
Revenue of combined entity as if combination occurred at beginning of period								1,100
Profit (loss) of combined entity as if combination occurred at beginning of period								9
Property, plant and equipment								7,334
Identifiable intangible assets recognised as of acquisition date								532
Deferred income tax assets								0
Identifiable Assets Acquired Recognised As Of Acquisition Date								8,301
Trade and other payables recognised as of acquisition date								2,518
Borrowings recognised as of acquisition date								2,356
Deferred tax liabilities recognised as of acquisition date								22
Non-controlling interest in acquiree recognised at acquisition date								0
Liabilities Recognized as of Acquisition Date								4,896
Identifiable assets acquired (liabilities assumed)								3,405
Consideration transferred, acquisition-date fair value								3,405		$ 3,400
Real Estate
Disclosure of detailed information about business combination [line items]
Goodwill								1,404	$ 1,357
Real Estate \| GGP Inc. (“GGP”)
Disclosure of detailed information about business combination [line items]
Percentage of interests acquired			84.00%
Cash and cash equivalents recognised as of acquisition date								27
Cash and cash equivalents								27
Accounts receivable and other								92
Assets Classified as Held for Sale of Acquisition Date								0
Inventory								43
Equity accounted investments								0
Investment properties								3,458
Property, plant and equipment								95
Intangible assets								2
Goodwill								0
Deferred income tax assets								0
Total assets								3,717
Less:
Accounts payable and other								(2,368)
Non-recourse borrowings								(537)
Deferred income tax liabilities								0
Non-controlling interests								(88)
Total liabilities								(2,993)
Net assets acquired								724
Consideration			$ 724					724
Revenue of combined entity as if combination occurred at beginning of period			174
Profit (loss) of combined entity as if combination occurred at beginning of period			4
Inventory								43
Equity accounted investments								0
Investment properties								3,458
Property, plant and equipment								95
Identifiable intangible assets recognised as of acquisition date								2
Deferred income tax assets								0
Identifiable Assets Acquired Recognised As Of Acquisition Date								3,717
Trade and other payables recognised as of acquisition date								2,368
Borrowings recognised as of acquisition date								537
Deferred tax liabilities recognised as of acquisition date								0
Non-controlling interest in acquiree recognised at acquisition date								88
Liabilities Recognized as of Acquisition Date								2,993
Identifiable assets acquired (liabilities assumed)								724
Consideration transferred, acquisition-date fair value			$ 724					$ 724

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS - Financial Instrument Classification (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Disclosure of financial assets [line items]
Financial assets	$ 41,335	$ 33,281
Financial assets pledged as collateral for liabilities or contingent liabilities	9,700	7,000
Disclosure of financial liabilities [line items]
Financial liabilities	193,217	184,231
Fair Value Through Profit or Loss
Disclosure of financial liabilities [line items]
Financial liabilities	7,346	6,424
Fair Value Through OCI
Disclosure of financial liabilities [line items]
Financial liabilities	0	0
Amortized Cost
Disclosure of financial liabilities [line items]
Financial liabilities	185,871	177,807
Fair Value Through Profit or Loss
Disclosure of financial assets [line items]
Financial assets	7,692	6,208
Fair Value Through OCI
Disclosure of financial assets [line items]
Financial assets	8,861	6,103
Amortized Cost
Disclosure of financial assets [line items]
Financial assets	24,782	20,970
Corporate borrowings
Disclosure of financial liabilities [line items]
Financial liabilities	9,077	7,083
Corporate borrowings \| Fair Value Through Profit or Loss
Disclosure of financial liabilities [line items]
Financial liabilities	0	0
Corporate borrowings \| Fair Value Through OCI
Disclosure of financial liabilities [line items]
Financial liabilities	0	0
Corporate borrowings \| Amortized Cost
Disclosure of financial liabilities [line items]
Financial liabilities	9,077	7,083
Property-specific borrowings and subsidiary borrowings [Member]
Disclosure of financial liabilities [line items]
Financial liabilities	139,324	136,292
Property-specific borrowings and subsidiary borrowings [Member] \| Fair Value Through Profit or Loss
Disclosure of financial liabilities [line items]
Financial liabilities	0	0
Property-specific borrowings and subsidiary borrowings [Member] \| Fair Value Through OCI
Disclosure of financial liabilities [line items]
Financial liabilities	0	0
Property-specific borrowings and subsidiary borrowings [Member] \| Amortized Cost
Disclosure of financial liabilities [line items]
Financial liabilities	139,324	136,292
Property-specific borrowings
Disclosure of financial liabilities [line items]
Financial liabilities	128,556	127,869
Property-specific borrowings \| Fair Value Through Profit or Loss
Disclosure of financial liabilities [line items]
Financial liabilities	0	0
Property-specific borrowings \| Fair Value Through OCI
Disclosure of financial liabilities [line items]
Financial liabilities	0	0
Property-specific borrowings \| Amortized Cost
Disclosure of financial liabilities [line items]
Financial liabilities	128,556	127,869
Subsidiary borrowings
Disclosure of financial liabilities [line items]
Financial liabilities	10,768	8,423
Subsidiary borrowings \| Fair Value Through Profit or Loss
Disclosure of financial liabilities [line items]
Financial liabilities	0	0
Subsidiary borrowings \| Fair Value Through OCI
Disclosure of financial liabilities [line items]
Financial liabilities	0	0
Subsidiary borrowings \| Amortized Cost
Disclosure of financial liabilities [line items]
Financial liabilities	10,768	8,423
Accounts payable and other
Disclosure of financial assets [line items]
Financial instruments designated as hedging instruments, at fair value	2,400	1,300
Disclosure of financial liabilities [line items]
Financial liabilities	41,117	36,724
Accounts payable and other
Disclosure of financial liabilities [line items]
Financial liabilities	41,117	36,724
Accounts payable and other \| Fair Value Through Profit or Loss
Disclosure of financial liabilities [line items]
Financial liabilities	5,889	4,528
Accounts payable and other \| Fair Value Through OCI
Disclosure of financial liabilities [line items]
Financial liabilities	0	0
Accounts payable and other \| Amortized Cost
Disclosure of financial liabilities [line items]
Financial liabilities	35,228	32,196
Subsidiary equity obligations
Disclosure of financial liabilities [line items]
Financial liabilities	3,699	4,132
Subsidiary equity obligations \| Fair Value Through Profit or Loss
Disclosure of financial liabilities [line items]
Financial liabilities	1,457	1,896
Subsidiary equity obligations \| Fair Value Through OCI
Disclosure of financial liabilities [line items]
Financial liabilities	0	0
Subsidiary equity obligations \| Amortized Cost
Disclosure of financial liabilities [line items]
Financial liabilities	2,242	2,236
Cash and cash equivalents
Disclosure of financial assets [line items]
Financial assets	9,933	6,778
Cash and cash equivalents \| Fair Value Through Profit or Loss
Disclosure of financial assets [line items]
Financial assets	0	0
Cash and cash equivalents \| Fair Value Through OCI
Disclosure of financial assets [line items]
Financial assets	0	0
Cash and cash equivalents \| Amortized Cost
Disclosure of financial assets [line items]
Financial assets	9,933	6,778
Government bonds
Disclosure of financial assets [line items]
Financial assets	2,651	2,403
Government bonds \| Fair Value Through Profit or Loss
Disclosure of financial assets [line items]
Financial assets	356	156
Government bonds \| Fair Value Through OCI
Disclosure of financial assets [line items]
Financial assets	2,295	2,247
Government bonds \| Amortized Cost
Disclosure of financial assets [line items]
Financial assets	0	0
Corporate bonds
Disclosure of financial assets [line items]
Financial assets	3,599	3,267
Corporate bonds \| Fair Value Through Profit or Loss
Disclosure of financial assets [line items]
Financial assets	1,094	1,118
Corporate bonds \| Fair Value Through OCI
Disclosure of financial assets [line items]
Financial assets	2,148	1,839
Corporate bonds \| Amortized Cost
Disclosure of financial assets [line items]
Financial assets	357	310
Fixed income securities and other
Disclosure of financial assets [line items]
Financial assets	2,270	1,750
Fixed income securities and other \| Fair Value Through Profit or Loss
Disclosure of financial assets [line items]
Financial assets	1,079	1,131
Fixed income securities and other \| Fair Value Through OCI
Disclosure of financial assets [line items]
Financial assets	1,191	619
Fixed income securities and other \| Amortized Cost
Disclosure of financial assets [line items]
Financial assets	0	0
Common shares and warrants
Disclosure of financial assets [line items]
Financial assets	6,514	3,189
Common shares and warrants \| Fair Value Through Profit or Loss
Disclosure of financial assets [line items]
Financial assets	3,287	1,791
Common shares and warrants \| Fair Value Through OCI
Disclosure of financial assets [line items]
Financial assets	3,227	1,398
Common shares and warrants \| Amortized Cost
Disclosure of financial assets [line items]
Financial assets	0	0
Loans and notes receivables
Disclosure of financial assets [line items]
Financial assets	2,696	1,859
Loans and notes receivables \| Fair Value Through Profit or Loss
Disclosure of financial assets [line items]
Financial assets	110	55
Loans and notes receivables \| Fair Value Through OCI
Disclosure of financial assets [line items]
Financial assets	0	0
Loans and notes receivables \| Amortized Cost
Disclosure of financial assets [line items]
Financial assets	2,586	1,804
Other financial assets
Disclosure of financial assets [line items]
Financial assets	17,730	12,468
Other financial assets \| Fair Value Through Profit or Loss
Disclosure of financial assets [line items]
Financial assets	5,926	4,251
Other financial assets \| Fair Value Through OCI
Disclosure of financial assets [line items]
Financial assets	8,861	6,103
Other financial assets \| Amortized Cost
Disclosure of financial assets [line items]
Financial assets	2,943	2,114
Accounts receivable and other
Disclosure of financial assets [line items]
Financial assets	13,672	14,035
Financial instruments designated as hedging instruments, at fair value		950
Accounts receivable and other \| Fair Value Through Profit or Loss
Disclosure of financial assets [line items]
Financial assets	1,766	1,957
Accounts receivable and other \| Fair Value Through OCI
Disclosure of financial assets [line items]
Financial assets	0	0
Accounts receivable and other \| Amortized Cost
Disclosure of financial assets [line items]
Financial assets	11,906	12,078
Shareholders' Loan \| Renewable Power
Disclosure of financial assets [line items]
Financial assets	$ 500	$ 500

FAIR VALUE OF FINANCIAL INSTR_4

FAIR VALUE OF FINANCIAL INSTRUMENTS - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of carrying value and fair value of assets and liabilities
Fair value gains (losses) on financial assets reclassified out of fair value through other comprehensive income recognized in fair value through profit and loss	$ (7)	$ (3)
Cash included in cash and cash equivalents	8,200	5,700
Short-term deposits, classified as cash equivalents	1,800	1,100
Unrealized FVOCI Gain [Member]
Disclosure of carrying value and fair value of assets and liabilities
Gains (losses) recognised in other comprehensive income including exchange differences, fair value measurement, assets	916	479
Cash flow hedges
Disclosure of carrying value and fair value of assets and liabilities
Gains (losses) on cash flow hedges, before tax	(479)	(89)
Net investment hedges
Disclosure of carrying value and fair value of assets and liabilities
Pre-tax net unrealized gains	182	(433)
Unrealized Available-for-Sale Loss
Disclosure of carrying value and fair value of assets and liabilities
Gains (losses) recognised in other comprehensive income including exchange differences, fair value measurement, assets	322	108
Elected for hedge accounting \| Cash flow hedges
Disclosure of carrying value and fair value of assets and liabilities
Derivative financial assets held for hedging	689	210
Elected for hedge accounting \| Net investment hedges
Disclosure of carrying value and fair value of assets and liabilities
Derivative financial assets held for hedging	$ 868	$ 551

FAIR VALUE OF FINANCIAL INSTR_5

FAIR VALUE OF FINANCIAL INSTRUMENTS - Carrying and Fair Values of Financial Instruments (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Disclosure of financial assets [line items]
Financial assets, carrying value	$ 41,335	$ 33,281
Financial assets, at fair value	41,335	33,281
Disclosure of financial liabilities [line items]
Financial assets pledged as collateral for liabilities or contingent liabilities	9,700	7,000
Financial liabilities, carrying value	193,217	184,231
Financial liabilities, at fair value	197,540	187,156
Corporate borrowings
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	9,077	7,083
Financial liabilities, at fair value	10,540	7,933
Property-specific borrowings
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	128,556	127,869
Financial liabilities, at fair value	131,099	129,728
Subsidiary borrowings
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	10,768	8,423
Financial liabilities, at fair value	11,085	8,632
Property-specific borrowings and subsidiary borrowings [Member]
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	139,324	136,292
Financial liabilities, at fair value	142,184	138,360
Accounts payable and other
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	41,117	36,724
Financial liabilities, at fair value	41,117	36,724
Financial instruments designated as hedging instruments, at fair value	2,400	1,300
Subsidiary equity obligations
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	3,699	4,132
Financial liabilities, at fair value	3,699	4,139
Elected for hedge accounting
Disclosure of financial assets [line items]
Financial assets, carrying value	8,861	6,103
Fair value through profit or loss
Disclosure of financial assets [line items]
Financial assets, carrying value	7,692	6,208
Equity investments [member]
Disclosure of financial assets [line items]
Financial assets, carrying value	6,514	3,189
Financial assets, at fair value	6,514	3,189
Equity investments [member] \| Elected for hedge accounting
Disclosure of financial assets [line items]
Financial assets, carrying value	3,227	1,398
Equity investments [member] \| Fair value through profit or loss
Disclosure of financial assets [line items]
Financial assets, carrying value	3,287	1,791
Loans and notes receivables
Disclosure of financial assets [line items]
Financial assets, carrying value	2,696	1,859
Financial assets, at fair value	2,696	1,859
Loans and notes receivables \| Elected for hedge accounting
Disclosure of financial assets [line items]
Financial assets, carrying value	0	0
Loans and notes receivables \| Fair value through profit or loss
Disclosure of financial assets [line items]
Financial assets, carrying value	110	55
Cash And Cash Equivalents1 [Member]
Disclosure of financial assets [line items]
Financial assets, carrying value	9,933	6,778
Financial assets, at fair value	9,933	6,778
Cash And Cash Equivalents1 [Member] \| Elected for hedge accounting
Disclosure of financial assets [line items]
Financial assets, carrying value	0	0
Cash And Cash Equivalents1 [Member] \| Fair value through profit or loss
Disclosure of financial assets [line items]
Financial assets, carrying value	0	0
Other financial assets
Disclosure of financial assets [line items]
Financial assets, carrying value	17,730	12,468
Financial assets, at fair value	17,730	12,468
Other financial assets \| Elected for hedge accounting
Disclosure of financial assets [line items]
Financial assets, carrying value	8,861	6,103
Other financial assets \| Fair value through profit or loss
Disclosure of financial assets [line items]
Financial assets, carrying value	5,926	4,251
Trade receivables and other [Member]
Disclosure of financial assets [line items]
Financial assets, carrying value	13,672	14,035
Financial assets, at fair value	13,672	14,035
Disclosure of financial liabilities [line items]
Financial instruments designated as hedging instruments, at fair value		950
Trade receivables and other [Member] \| Elected for hedge accounting
Disclosure of financial assets [line items]
Financial assets, carrying value	0	0
Trade receivables and other [Member] \| Fair value through profit or loss
Disclosure of financial assets [line items]
Financial assets, carrying value	1,766	1,957
Loans to government [member]
Disclosure of financial assets [line items]
Financial assets, carrying value	2,651	2,403
Financial assets, at fair value	2,651	2,403
Loans to government [member] \| Elected for hedge accounting
Disclosure of financial assets [line items]
Financial assets, carrying value	2,295	2,247
Loans to government [member] \| Fair value through profit or loss
Disclosure of financial assets [line items]
Financial assets, carrying value	356	156
Loans to corporate entities [member]
Disclosure of financial assets [line items]
Financial assets, carrying value	3,599	3,267
Financial assets, at fair value	3,599	3,267
Loans to corporate entities [member] \| Elected for hedge accounting
Disclosure of financial assets [line items]
Financial assets, carrying value	2,148	1,839
Loans to corporate entities [member] \| Fair value through profit or loss
Disclosure of financial assets [line items]
Financial assets, carrying value	1,094	1,118
Fixed income securities and other
Disclosure of financial assets [line items]
Financial assets, carrying value	2,270	1,750
Financial assets, at fair value	2,270	1,750
Fixed income securities and other \| Elected for hedge accounting
Disclosure of financial assets [line items]
Financial assets, carrying value	1,191	619
Fixed income securities and other \| Fair value through profit or loss
Disclosure of financial assets [line items]
Financial assets, carrying value	1,079	1,131
Amortized Cost
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	185,871	177,807
Amortized Cost \| Corporate borrowings
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	9,077	7,083
Amortized Cost \| Property-specific borrowings
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	128,556	127,869
Amortized Cost \| Subsidiary borrowings
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	10,768	8,423
Amortized Cost \| Property-specific borrowings and subsidiary borrowings [Member]
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	139,324	136,292
Amortized Cost \| Subsidiary equity obligations
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	2,242	2,236
Financial liabilities at fair value through profit or loss, category [member]
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	7,346	6,424
Financial liabilities at fair value through profit or loss, category [member] \| Corporate borrowings
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	0	0
Financial liabilities at fair value through profit or loss, category [member] \| Property-specific borrowings
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	0	0
Financial liabilities at fair value through profit or loss, category [member] \| Subsidiary borrowings
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	0	0
Financial liabilities at fair value through profit or loss, category [member] \| Property-specific borrowings and subsidiary borrowings [Member]
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	0	0
Financial liabilities at fair value through profit or loss, category [member] \| Subsidiary equity obligations
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	1,457	1,896
Fair Value Through OCI
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	0	0
Fair Value Through OCI \| Corporate borrowings
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	0	0
Fair Value Through OCI \| Property-specific borrowings
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	0	0
Fair Value Through OCI \| Subsidiary borrowings
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	0	0
Fair Value Through OCI \| Property-specific borrowings and subsidiary borrowings [Member]
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	0	0
Fair Value Through OCI \| Subsidiary equity obligations
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	$ 0	$ 0

FAIR VALUE OF FINANCIAL INSTR_6

FAIR VALUE OF FINANCIAL INSTRUMENTS - Other Financial Assets (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about financial instruments [abstract]
Current	$ 5,483	$ 3,605
Non-current	12,247	8,863
Total	$ 17,730	$ 12,468

FAIR VALUE OF FINANCIAL INSTR_7

FAIR VALUE OF FINANCIAL INSTRUMENTS - Fair Value Hierarchy Levels (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	$ 41,335	$ 33,281
Financial liabilities	197,540	187,156
Level 1
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	5,664	2,386
Financial liabilities	75	93
Level 1 \| Accounts payable and other
Disclosure of carrying value and fair value of assets and liabilities
Financial liabilities	75	93
Level 1 \| Subsidiary equity obligations
Disclosure of carrying value and fair value of assets and liabilities
Financial liabilities	0	0
Level 1 \| Government bonds
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	7	0
Level 1 \| Corporate bonds
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	192	0
Level 1 \| Fixed income securities and other
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	867	419
Level 1 \| Common shares and warrants
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	4,548	1,966
Level 1 \| Loans and notes receivables
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	0	0
Level 1 \| Accounts receivable and other
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	50	1
Level 2
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	8,520	8,145
Financial liabilities	5,167	3,789
Level 2 \| Accounts payable and other
Disclosure of carrying value and fair value of assets and liabilities
Financial liabilities	5,090	3,749
Level 2 \| Subsidiary equity obligations
Disclosure of carrying value and fair value of assets and liabilities
Financial liabilities	77	40
Level 2 \| Government bonds
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	2,644	2,403
Level 2 \| Corporate bonds
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	2,764	2,682
Level 2 \| Fixed income securities and other
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	912	851
Level 2 \| Common shares and warrants
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	577	421
Level 2 \| Loans and notes receivables
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	42	51
Level 2 \| Accounts receivable and other
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	1,581	1,737
Level 3
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	2,369	1,780
Financial liabilities	2,104	2,542
Level 3 \| Accounts payable and other
Disclosure of carrying value and fair value of assets and liabilities
Financial liabilities	724	686
Level 3 \| Subsidiary equity obligations
Disclosure of carrying value and fair value of assets and liabilities
Financial liabilities	1,380	1,856
Level 3 \| Government bonds
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	0	0
Level 3 \| Corporate bonds
Disclosure of carrying value and fair value of assets and liabilities
Financial assets		275
Level 3 \| Fixed income securities and other
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	491	480
Level 3 \| Common shares and warrants
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	1,389	802
Level 3 \| Loans and notes receivables
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	68	4
Level 3 \| Accounts receivable and other
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	$ 135	$ 219

FAIR VALUE OF FINANCIAL INSTR_8

FAIR VALUE OF FINANCIAL INSTRUMENTS - Valuation Techniques on Fair Value Measurements (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial assets	$ 41,335	$ 33,281
Financial liabilities	(197,540)	(187,156)
Level 2
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial assets	8,520	8,145
Financial liabilities	(5,167)	(3,789)
Level 2 \| Accounts payable and other
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial liabilities	(5,090)	(3,749)
Level 2 \| Accounts payable and other \| Discounted cash flows
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial liabilities	(5,090)
Level 2 \| Redeemable fund units (subsidiary equity obligations)
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial liabilities	(77)	(40)
Level 2 \| Redeemable fund units (subsidiary equity obligations) \| Market approach
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial liabilities	(77)
Level 2 \| Accounts receivable and other
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial assets	1,581	1,737
Level 2 \| Accounts receivable and other \| Discounted cash flows
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial assets	1,581
Level 2 \| Other financial assets \| Market approach
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial assets	6,939
Level 2 \| Fixed income securities and other
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial assets	912	851
Level 2 \| Corporate bonds
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial assets	2,764	2,682
Level 2 \| Common shares and warrants
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial assets	577	421
Level 3
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial assets	2,369	1,780
Financial liabilities	(2,104)	(2,542)
Level 3 \| Accounts payable and other
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial liabilities	(724)	(686)
Level 3 \| Accounts payable and other \| Discounted cash flows
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial liabilities	(724)
Level 3 \| Redeemable fund units (subsidiary equity obligations)
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial liabilities	(1,380)	(1,856)
Level 3 \| Redeemable fund units (subsidiary equity obligations) \| Discounted cash flows
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial liabilities	(1,380)
Level 3 \| Accounts receivable and other
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial assets	135	219
Level 3 \| Fixed income securities and other
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial assets	491	480
Level 3 \| Fixed income securities and other \| Discounted cash flows
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial assets	491
Level 3 \| Corporate bonds
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial assets		275
Level 3 \| Corporate bonds \| Discounted cash flows
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial assets	286
Level 3 \| Common shares and warrants
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial assets	1,389	$ 802
Level 3 \| Common shares and warrants \| Black-Scholes model
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial assets	1,389
Level 3 \| Accounts receivable and other \| Discounted cash flows
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial assets	$ 135

FAIR VALUE OF FINANCIAL INSTR_9

FAIR VALUE OF FINANCIAL INSTRUMENTS - Change in Balance of Fair Value Assets and Liabilities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Financial Assets
Balance, beginning of period	$ 33,281
Balance, end of period	41,335	$ 33,281
Financial Liabilities
Balance, beginning of period	187,156
Balance, end of period	197,540	187,156
Level 3
Financial Assets
Balance, beginning of period	1,780
Balance, end of period	2,369	1,780
Financial Liabilities
Balance, beginning of period	2,542
Balance, end of period	2,104	2,542
At fair value \| Level 3
Financial Assets
Balance, beginning of period	1,780	795
Fair value changes in net income	(92)	278
Gains (losses) recognised in other comprehensive income including exchange differences, fair value measurement, assets	15	(10)
Additions, net of disposals	(331)	264
Balance, end of period	2,369	1,780
Financial Liabilities
Balance, beginning of period	2,542	2,299
Fair value changes in net income	(111)	(27)
Fair value changes in other comprehensive income	4	6
Additions, net of disposals	666	717
Balance, end of period	$ 2,104	$ 2,542

FAIR VALUE OF FINANCIAL INST_10

FAIR VALUE OF FINANCIAL INSTRUMENTS - Amortized Cost for which Fair Value is Disclosed (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities	$ 193,217	$ 184,231
Not measured at fair value in statement of financial position but for which fair value is disclosed \| Corporate borrowings \| Level 1
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities	10,443	7,841
Not measured at fair value in statement of financial position but for which fair value is disclosed \| Corporate borrowings \| Level 2
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities	97	92
Not measured at fair value in statement of financial position but for which fair value is disclosed \| Corporate borrowings \| Level 3
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities	0	0
Not measured at fair value in statement of financial position but for which fair value is disclosed \| Property-specific borrowings \| Level 1
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities	3,406	6,467
Not measured at fair value in statement of financial position but for which fair value is disclosed \| Property-specific borrowings \| Level 2
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities	57,927	52,386
Not measured at fair value in statement of financial position but for which fair value is disclosed \| Property-specific borrowings \| Level 3
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities	69,766	70,875
Not measured at fair value in statement of financial position but for which fair value is disclosed \| Subsidiary borrowings \| Level 1
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities	7,825	6,111
Not measured at fair value in statement of financial position but for which fair value is disclosed \| Subsidiary borrowings \| Level 2
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities	3	299
Not measured at fair value in statement of financial position but for which fair value is disclosed \| Subsidiary borrowings \| Level 3
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities	3,257	2,222
Not measured at fair value in statement of financial position but for which fair value is disclosed \| Subsidiary equity obligations \| Level 1
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities	0	0
Not measured at fair value in statement of financial position but for which fair value is disclosed \| Subsidiary equity obligations \| Level 2
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities	73	73
Not measured at fair value in statement of financial position but for which fair value is disclosed \| Subsidiary equity obligations \| Level 3
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities	$ 2,169	$ 2,170

FAIR VALUE OF FINANCIAL INST_11

FAIR VALUE OF FINANCIAL INSTRUMENTS - Netting of Financial Instruments (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Accounts payable and other
Disclosure of offsetting of financial assets [line items]
Gross amounts of financial instruments before netting	$ 4,379	$ 2,853
Gross amounts of financial instruments set-off in Consolidated Balance Sheets	(351)	(366)
Disclosure of offsetting of financial liabilities [line items]
Net amount of financial instruments in Consolidated Balance Sheets	4,028	2,487
Accounts receivable and other
Disclosure of offsetting of financial assets [line items]
Gross amounts of financial instruments before netting	2,195	2,380
Gross amounts of financial instruments set-off in Consolidated Balance Sheets	(429)	(423)
Net amount of financial instruments in Consolidated Balance Sheets	$ 1,766	$ 1,957

ACCOUNTS RECEIVABLE AND OTHER -

ACCOUNTS RECEIVABLE AND OTHER - Schedule of Accounts Receivable and Other (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Subclassifications of assets, liabilities and equities [abstract]
Accounts receivable	$ 10,113	$ 11,129
Prepaid expenses and other assets	6,335	5,636
Restricted cash	2,395	1,595
Sustainable resources	85	109	$ 333
Accounts receivable and other	$ 18,928	$ 18,469

ACCOUNTS RECEIVABLE AND OTHER_2

ACCOUNTS RECEIVABLE AND OTHER - Schedule of Current and Non-Current Accounts Receivable (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Subclassifications of assets, liabilities and equities [abstract]
Current	$ 14,187	$ 13,862
Non-current	4,741	4,607
Accounts receivable and other	$ 18,928	$ 18,469

ACCOUNTS RECEIVABLE AND OTHER_3

ACCOUNTS RECEIVABLE AND OTHER - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of acquired receivables [line items]
Contract assets	$ 632,000,000	$ 682,000,000
Disposals, Sustainable Resources	0	(270,000,000)
Additions	$ 75,000,000	$ 77,000,000
Sustainable Resources [Member] \| At fair value
Disclosure of acquired receivables [line items]
Terminal Capitalization Rate	4.60%	6.10%
Termination valuation date	18 years	21 years
Terminal Capitalization Rate	4.60%	6.10%
Termination valuation date	18 years	21 years

ACCOUNTS RECEIVABLE AND OTHER_4

ACCOUNTS RECEIVABLE AND OTHER - Schedule Of Change In Balance Of Timberlands And Other Agricultural Assets (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Subclassifications of assets, liabilities and equities [abstract]
Balance, beginning of year	$ 109,000,000	$ 333,000,000
Additions	75,000,000	77,000,000
Disposals, Sustainable Resources	0	270,000,000
Fair value adjustments	2,000,000	12,000,000
Decrease due to harvest	61,000,000	39,000,000
Foreign currency changes	(40,000,000)	(4,000,000)
Balance, end of year	$ 85,000,000	$ 109,000,000

INVENTORY - Schedule of Invento

INVENTORY - Schedule of Inventory Properties (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Disclosure of Inventory Properties [Line Items]
Total	$ 10,360	$ 10,272
Fuel Inventory [Member]
Disclosure of Inventory Properties [Line Items]
Total	651	690
Residential properties under development [Member]
Disclosure of Inventory Properties [Line Items]
Total	2,816	3,007
Land held for development [Member]
Disclosure of Inventory Properties [Line Items]
Total	2,015	1,781
Completed residential properties [Member]
Disclosure of Inventory Properties [Line Items]
Total	743	998
Industrial products and other [Member]
Disclosure of Inventory Properties [Line Items]
Total	2,611	2,816
Other [Member]
Disclosure of Inventory Properties [Line Items]
Total	2,175	1,670
Industrial products and other – office development
Disclosure of Inventory Properties [Line Items]
Total	$ 581	$ 243

INVENTORY - Schedule of Current

INVENTORY - Schedule of Current and Non-Current Inventory Balances (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Inventories [Abstract]
Current	$ 6,337	$ 7,054
Non-current	4,023	3,218
Total	$ 10,360	$ 10,272

INVENTORY - Narrative (Details)

INVENTORY - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
INVENTORY - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Disclosure of Inventory Properties [Line Items]
Inventory	$ 10,360	$ 10,272
Cost of inventories recognised as expense during period	24,600	26,500
Inventory write-down	107	38
Inventories pledged as security for liabilities	6,000	4,700
Fuel Inventory [Member]
Disclosure of Inventory Properties [Line Items]
Inventory	$ 651	$ 690

HELD FOR SALE - Schedule Of Ass

HELD FOR SALE - Schedule Of Assets And Liabilities Classified As Held-For-Sale (Details) - USD ($) $ in Millions	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Assets
Accounts receivable and other	$ 18,928		$ 18,469
Investment properties	96,782		96,686	$ 84,309
Property, plant and equipment	100,009		89,264
Equity accounted investments	41,327		40,698	33,647
Deferred income tax assets	3,338		3,572
Non-current assets or disposal groups classified as held for sale	5,917		3,502
Liabilities
Accounts payable and other	50,682	$ 50,682	43,077
Non-recourse borrowings of managed entities	139,324		136,292
Property-specific borrowings	128,556		127,869
Subsidiary borrowings	10,768		8,423
Deferred income tax liabilities	15,913		14,849
Liabilities associated with assets classified as held for sale	2,359		1,690
Inventories pledged as security for liabilities	6,000		4,700
Accounts receivable and other	18,928		18,469
Investment properties	96,782		96,686	84,309
Property, plant and equipment	100,009		89,264
Equity accounted investments	41,327		40,698	33,647
Deferred income tax assets	3,338		3,572
Assets classified as held for sale	5,917		3,502
Accounts payable and other	50,682	$ 50,682	43,077
Non-recourse borrowings of managed entities	139,324		136,292
Deferred income tax liabilities	15,913		14,849
Liabilities associated with assets classified as held for sale	2,359		1,690
Assets and liabilities classified as held for sale
Assets
Cash and cash equivalents	6		58
Accounts receivable and other	67		174
Investment properties	4,224		251
Property, plant and equipment	82		1,730
Equity accounted investments	1,533		413
Other long-term assets	5		872
Deferred income tax assets	0		4
Liabilities
Accounts payable and other	118		223
Non-recourse borrowings of managed entities	2,234		1,071
Deferred income tax liabilities	7		396
Cash and cash equivalents	6		58
Accounts receivable and other	67		174
Investment properties	4,224		251
Property, plant and equipment	82		1,730
Equity accounted investments	1,533		413
Other long-term assets	5		872
Deferred income tax assets	0		4
Accounts payable and other	118		223
Non-recourse borrowings of managed entities	2,234		1,071
Deferred income tax liabilities	7		396
Real Estate
Assets
Property, plant and equipment	8,432		9,729	7,652
Equity accounted investments	21,024		22,314
Liabilities
Property-specific borrowings	67,073		67,909
Subsidiary borrowings	3,378		2,024
Property, plant and equipment	8,432		9,729	$ 7,652
Equity accounted investments	21,024		22,314
Real Estate \| Assets and liabilities classified as held for sale
Assets
Cash and cash equivalents	1
Accounts receivable and other	62
Investment properties	4,224
Property, plant and equipment	0
Equity accounted investments	208
Other long-term assets	5
Deferred income tax assets	0
Non-current assets or disposal groups classified as held for sale	4,500
Liabilities
Accounts payable and other	115
Non-recourse borrowings of managed entities	2,230
Deferred income tax liabilities	0
Liabilities associated with assets classified as held for sale	2,345
Cash and cash equivalents	1
Accounts receivable and other	62
Investment properties	4,224
Property, plant and equipment	0
Equity accounted investments	208
Other long-term assets	5
Deferred income tax assets	0
Assets classified as held for sale	4,500
Accounts payable and other	115
Non-recourse borrowings of managed entities	2,230
Deferred income tax liabilities	0
Liabilities associated with assets classified as held for sale	2,345
Infrastructure
Assets
Property, plant and equipment	32,167		23,772
Equity accounted investments	10,530		8,972
Liabilities
Property-specific borrowings	21,309		20,776
Subsidiary borrowings	3,158		2,470
Property, plant and equipment	32,167		23,772
Equity accounted investments	10,530		8,972
Renewable Power and Other
Assets
Equity accounted investments	1,833		1,585
Liabilities
Equity accounted investments	1,833		1,585
Private Equity
Assets
Equity accounted investments	2,623		2,596
Liabilities
Property-specific borrowings	23,333		23,105
Subsidiary borrowings	310		0
Equity accounted investments	2,623		2,596
Private Equity \| Assets and liabilities classified as held for sale
Assets
Cash and cash equivalents	0
Accounts receivable and other	4
Investment properties	0
Property, plant and equipment	31
Equity accounted investments	1,325
Other long-term assets	0
Deferred income tax assets	0
Non-current assets or disposal groups classified as held for sale	1,360
Liabilities
Accounts payable and other	0
Non-recourse borrowings of managed entities	0
Deferred income tax liabilities	0
Liabilities associated with assets classified as held for sale	0
Cash and cash equivalents	0
Accounts receivable and other	4
Investment properties	0
Property, plant and equipment	31
Equity accounted investments	1,325
Other long-term assets	0
Deferred income tax assets	0
Assets classified as held for sale	1,360
Accounts payable and other	0
Non-recourse borrowings of managed entities	0
Deferred income tax liabilities	0
Liabilities associated with assets classified as held for sale	0
Renewable Power
Assets
Property, plant and equipment	45,206		41,595
Equity accounted investments	1,444		1,154
Liabilities
Property-specific borrowings	16,353		15,787
Subsidiary borrowings	2,132		2,098
Property, plant and equipment	45,206		41,595
Equity accounted investments	1,444		$ 1,154
Renewable Power \| Assets and liabilities classified as held for sale
Assets
Cash and cash equivalents	5
Accounts receivable and other	1
Investment properties	0
Property, plant and equipment	51
Equity accounted investments	0
Other long-term assets	0
Deferred income tax assets	0
Non-current assets or disposal groups classified as held for sale	57
Liabilities
Accounts payable and other	3
Non-recourse borrowings of managed entities	4
Deferred income tax liabilities	7
Liabilities associated with assets classified as held for sale	14
Cash and cash equivalents	5
Accounts receivable and other	1
Investment properties	0
Property, plant and equipment	51
Equity accounted investments	0
Other long-term assets	0
Deferred income tax assets	0
Assets classified as held for sale	57
Accounts payable and other	3
Non-recourse borrowings of managed entities	4
Deferred income tax liabilities	7
Liabilities associated with assets classified as held for sale	$ 14

HELD FOR SALE - Narrative (Deta

HELD FOR SALE - Narrative (Details) $ in Millions	12 Months Ended
HELD FOR SALE - Narrative (Details) $ in Millions	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Disclosure of financial assets [line items]
Assets	$ 343,696	$ 323,969
Liabilities	$ 221,054	207,123
Triple net lease
Disclosure of financial assets [line items]
Number of properties	4
U.S. Mall
Disclosure of financial assets [line items]
Number of properties	2
UNITED STATES
Disclosure of financial assets [line items]
Assets	$ 159,684	149,687
Brazil
Disclosure of financial assets [line items]
Assets	20,675	$ 24,354
Assets and liabilities classified as held for sale
Disclosure of financial assets [line items]
Held for Sale Assets Sold	6,700
Liabilities	$ 2,600

EQUITY ACCOUNTED INVESTMENTS -

EQUITY ACCOUNTED INVESTMENTS - Schedule Of Investments in Associates and Joint Ventures (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Associates And Joint Ventures [Line Items]
Equity accounted investments	$ 41,327	$ 40,698	$ 33,647
Proportion of ownership interest in joint venture	50.00%	50.00%
Investment Accounted For Using Equity Method, Additions, Net Of Disposals	$ 2,568	$ 4,676
Oaktree [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Carrying Value, associate	5,317	5,231
Equity accounted investments	$ 5,317	$ 5,231
Proportion of ownership interest in joint venture	62.00%	61.00%
Investment Accounted For Using Equity Method, Additions, Net Of Disposals	$ 91
Real Estate and Infrastructure [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in associate or joint venture	50.00%
Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Equity accounted investments	$ 21,024	$ 22,314
Investment Accounted For Using Equity Method, Additions, Net Of Disposals	517
Real Estate \| LP Investments and Other [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Carrying Value, associate	136	307
Renewable Power
Disclosure Of Associates And Joint Ventures [Line Items]
Equity accounted investments	1,444	1,154
Other [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Investments in Joint Ventures and Associates Accounted for Using the Equity Method	389	431
Infrastructure
Disclosure Of Associates And Joint Ventures [Line Items]
Equity accounted investments	10,530	8,972
Investment Accounted For Using Equity Method, Additions, Net Of Disposals	1,771
Infrastructure \| Data Infrastructure [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Carrying Value, associate	3,209	2,920
Infrastructure \| Utilities [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Carrying Value, associate	1,010	962
Infrastructure \| Transport
Disclosure Of Associates And Joint Ventures [Line Items]
Carrying Value, associate	5,114	4,033
Infrastructure \| Other [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Carrying Value, associate	130	156
Private Equity
Disclosure Of Associates And Joint Ventures [Line Items]
Equity accounted investments	2,623	2,596
Investment Accounted For Using Equity Method, Additions, Net Of Disposals	(49)
Private Equity \| Other [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Carrying Value, associate	1,789	557
Private Equity \| Norbord
Disclosure Of Associates And Joint Ventures [Line Items]
Carrying Value, associate	$ 0	$ 1,185
Proportion of ownership interest in joint venture	0.00%	43.00%
Private Equity \| Industrial operations [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Carrying Value, associate	$ 834	$ 854
Renewable Power and Other
Disclosure Of Associates And Joint Ventures [Line Items]
Equity accounted investments	1,833	$ 1,585
Investment Accounted For Using Equity Method, Additions, Net Of Disposals	$ 238
Minimum \| Real Estate \| LP Investments and Other [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in joint venture	16.00%	30.00%
Minimum \| Renewable Power
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in associate or joint venture	12.00%	14.00%
Minimum \| Other [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in associate or joint venture	14.00%	16.00%
Minimum \| Infrastructure \| Data Infrastructure [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in joint venture	45.00%	45.00%
Minimum \| Infrastructure \| Utilities [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in joint venture	11.00%	11.00%
Minimum \| Infrastructure \| Transport
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in joint venture	21.00%	26.00%
Minimum \| Infrastructure \| Other [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in joint venture	22.00%	22.00%
Minimum \| Private Equity \| Other [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in joint venture	14.00%	25.00%
Minimum \| Private Equity \| Industrial operations [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in joint venture	24.00%	24.00%
Maximum \| Real Estate \| LP Investments and Other [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in joint venture	50.00%	90.00%
Maximum \| Renewable Power
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in associate or joint venture	60.00%	60.00%
Maximum \| Other [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in associate or joint venture	77.00%	85.00%
Maximum \| Infrastructure \| Data Infrastructure [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in joint venture	50.00%	50.00%
Maximum \| Infrastructure \| Utilities [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in joint venture	50.00%	50.00%
Maximum \| Infrastructure \| Transport
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in joint venture	58.00%	58.00%
Maximum \| Infrastructure \| Other [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in joint venture	50.00%	50.00%
Maximum \| Private Equity \| Other [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in joint venture	70.00%	90.00%
Maximum \| Private Equity \| Industrial operations [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in joint venture	54.00%	54.00%
Core office \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Carrying Value, joint ventures	$ 8,866	$ 9,440
Core office \| Minimum \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in joint venture	15.00%	14.00%
Core office \| Maximum \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in joint venture	56.00%	56.00%
LP Investments and Other [Member] \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Carrying Value, joint ventures	$ 2,338	$ 2,012
LP Investments and Other [Member] \| Minimum \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in joint venture	9.00%	18.00%
LP Investments and Other [Member] \| Maximum \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in joint venture	84.00%	80.00%
Core retail \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Carrying Value, joint ventures	$ 9,684	$ 10,555
Core retail \| Minimum \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in joint venture	22.00%	12.00%
Core retail \| Maximum \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in joint venture	68.00%	68.00%
Aggregated individually immaterial joint ventures [member] \| Other [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Carrying Value, joint ventures	$ 346	$ 383
Other [Member] \| Infrastructure
Disclosure Of Associates And Joint Ventures [Line Items]
Carrying Value, joint ventures	$ 226	$ 185
Proportion of ownership interest in joint venture	50.00%	50.00%
Energy [Member] \| Infrastructure
Disclosure Of Associates And Joint Ventures [Line Items]
Carrying Value, joint ventures	$ 841	$ 716

EQUITY ACCOUNTED INVESTMENTS _2

EQUITY ACCOUNTED INVESTMENTS - Schedule Of Changes In Balance Of Investments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Associates And Joint Ventures [Line Items]
Balance, beginning of year	$ 40,698	$ 33,647
Additions, net of (disposals)1	2,568	4,676
Acquisitions through business combinations	0	895
Investment Accounted for Using Equity Method, Share of comprehensive income	(79)	2,498
Distributions received	(1,383)	(1,300)
Share of other comprehensive income (loss)	(46)	317
Foreign currency translation and other	(431)		$ (35)
Balance, end of year	41,327	40,698	$ 33,647
BrandSafway [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Additions, net of (disposals)1	1,300
Cheniere
Disclosure Of Associates And Joint Ventures [Line Items]
Additions, net of (disposals)1	1,300
Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Balance, beginning of year	22,314
Additions, net of (disposals)1	517
Acquisitions through business combinations	0
Investment Accounted for Using Equity Method, Share of comprehensive income	(933)
Distributions received	(726)
Share of other comprehensive income (loss)	(267)
Foreign currency translation and other	119
Balance, end of year	21,024	22,314
Infrastructure
Disclosure Of Associates And Joint Ventures [Line Items]
Balance, beginning of year	8,972
Additions, net of (disposals)1	1,771
Acquisitions through business combinations	0
Investment Accounted for Using Equity Method, Share of comprehensive income	442
Distributions received	(290)
Share of other comprehensive income (loss)	165
Foreign currency translation and other	(530)
Balance, end of year	10,530	8,972
Private Equity
Disclosure Of Associates And Joint Ventures [Line Items]
Balance, beginning of year	2,596
Additions, net of (disposals)1	(49)
Acquisitions through business combinations	0
Investment Accounted for Using Equity Method, Share of comprehensive income	153
Distributions received	(75)
Share of other comprehensive income (loss)	25
Foreign currency translation and other	(27)
Balance, end of year	2,623	2,596
Renewable Power and Other
Disclosure Of Associates And Joint Ventures [Line Items]
Balance, beginning of year	1,585
Additions, net of (disposals)1	238
Acquisitions through business combinations	0
Investment Accounted for Using Equity Method, Share of comprehensive income	70
Distributions received	(98)
Share of other comprehensive income (loss)	31
Foreign currency translation and other	7
Balance, end of year	1,833	1,585
Oaktree [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Balance, beginning of year	5,231
Additions, net of (disposals)1	91
Acquisitions through business combinations	0
Investment Accounted for Using Equity Method, Share of comprehensive income	189
Distributions received	(194)
Share of other comprehensive income (loss)	0
Foreign currency translation and other	0
Balance, end of year	$ 5,317	$ 5,231

EQUITY ACCOUNTED INVESTMENTS _3

EQUITY ACCOUNTED INVESTMENTS - Schedule Of Current And Non-Current Assets And Liabilities Of Investments In Associates And Joint Ventures (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Associates And Joint Ventures [Line Items]
Current assets	$ 14,965	$ 13,003
Non-current assets	170,348	155,246
Current liabilities	13,784	13,333
Non-current liabilities	81,211	68,780
Renewable Power
Disclosure Of Associates And Joint Ventures [Line Items]
Current assets	1,355	539
Non-current assets	7,492	5,967
Current liabilities	635	535
Non-current liabilities	3,307	2,530
Other [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Current assets	210	1,022
Non-current assets	790	0
Current liabilities	67	118
Non-current liabilities	178	113
Oaktree [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Current assets	2,253	1,497
Non-current assets	17,056	16,870
Current liabilities	2,146	1,172
Non-current liabilities	7,487	7,434
LP Investments and Other [Member] \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Current assets	21	32
Non-current assets	1,207	955
Current liabilities	42	15
Non-current liabilities	958	390
Other [Member] \| Infrastructure
Disclosure Of Associates And Joint Ventures [Line Items]
Current assets	34	21
Non-current assets	356	374
Current liabilities	32	27
Non-current liabilities	143	133
Other [Member] \| Private Equity
Disclosure Of Associates And Joint Ventures [Line Items]
Current assets	2,077	793
Non-current assets	9,303	2,362
Current liabilities	1,357	697
Non-current liabilities	6,697	1,562
Data Infrastructure [Member] \| Infrastructure
Disclosure Of Associates And Joint Ventures [Line Items]
Current assets	841	912
Non-current assets	13,308	11,636
Current liabilities	1,263	1,042
Non-current liabilities	6,081	4,908
Transport \| Infrastructure
Disclosure Of Associates And Joint Ventures [Line Items]
Current assets	1,223	1,199
Non-current assets	25,078	18,028
Current liabilities	1,929	1,953
Non-current liabilities	9,538	8,359
Utilities [Member] \| Infrastructure
Disclosure Of Associates And Joint Ventures [Line Items]
Current assets	646	869
Non-current assets	6,142	6,500
Current liabilities	487	687
Non-current liabilities	4,238	4,152
Industrial products [Member] \| Private Equity
Disclosure Of Associates And Joint Ventures [Line Items]
Current assets	1,096	1,038
Non-current assets	736	743
Current liabilities	505	485
Non-current liabilities	222	256
Norbord \| Private Equity
Disclosure Of Associates And Joint Ventures [Line Items]
Current assets	0	462
Non-current assets	0	3,911
Current liabilities	0	260
Non-current liabilities	0	1,355
Core office \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Current assets	2,496	2,790
Non-current assets	36,668	36,861
Current liabilities	3,485	4,824
Non-current liabilities	17,107	13,987
LP Investments and Other [Member] \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Current assets	1,279	648
Non-current assets	12,288	9,559
Current liabilities	903	648
Non-current liabilities	7,290	5,247
Other [Member] \| Infrastructure
Disclosure Of Associates And Joint Ventures [Line Items]
Current assets	43	35
Non-current assets	685	299
Current liabilities	30	6
Non-current liabilities	299	93
Energy [Member] \| Infrastructure
Disclosure Of Associates And Joint Ventures [Line Items]
Current assets	161	154
Non-current assets	6,157	5,455
Current liabilities	230	249
Non-current liabilities	3,945	3,927
Core retail \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Current assets	1,230	992
Non-current assets	33,082	35,726
Current liabilities	673	615
Non-current liabilities	$ 13,721	$ 14,334

EQUITY ACCOUNTED INVESTMENTS _4

EQUITY ACCOUNTED INVESTMENTS - Schedule Of Revenue, Net Income and OCI Of Investments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Associates And Joint Ventures [Line Items]
Revenue of associate or joint venture	$ 25,237	$ 18,182
Profit (Loss) of associate or joint venture	189	5,192
Other Comprehensive Income of associate or joint venture	(2,313)	457
Renewable Power
Disclosure Of Associates And Joint Ventures [Line Items]
Revenue of associate or joint venture	737	431
Profit (Loss) of associate or joint venture	219	88
Other Comprehensive Income of associate or joint venture	174	242
Other [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Revenue of associate or joint venture	192	400
Profit (Loss) of associate or joint venture	56	104
Other Comprehensive Income of associate or joint venture	(2)	1
Industrial operations [Member] \| Private Equity
Disclosure Of Associates And Joint Ventures [Line Items]
Revenue of associate or joint venture	2,713	1,770
Profit (Loss) of associate or joint venture	132	122
Other Comprehensive Income of associate or joint venture	0	0
Oaktree [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Revenue of associate or joint venture	1,104	295
Profit (Loss) of associate or joint venture	158	12
Other Comprehensive Income of associate or joint venture	(2)	(6)
Norbord \| Private Equity
Disclosure Of Associates And Joint Ventures [Line Items]
Revenue of associate or joint venture	2,407	1,731
Profit (Loss) of associate or joint venture	386	(165)
Other Comprehensive Income of associate or joint venture	12	13
Other [Member] \| Infrastructure
Disclosure Of Associates And Joint Ventures [Line Items]
Revenue of associate or joint venture	41	55
Profit (Loss) of associate or joint venture	(23)	(45)
Other Comprehensive Income of associate or joint venture	(245)	(210)
Other [Member] \| Private Equity
Disclosure Of Associates And Joint Ventures [Line Items]
Revenue of associate or joint venture	4,332	1,007
Profit (Loss) of associate or joint venture	(130)	247
Other Comprehensive Income of associate or joint venture	48	26
Transport \| Infrastructure
Disclosure Of Associates And Joint Ventures [Line Items]
Revenue of associate or joint venture	4,054	3,277
Profit (Loss) of associate or joint venture	169	3
Other Comprehensive Income of associate or joint venture	(1,451)	363
Utilities [Member] \| Infrastructure
Disclosure Of Associates And Joint Ventures [Line Items]
Revenue of associate or joint venture	1,715	1,046
Profit (Loss) of associate or joint venture	364	354
Other Comprehensive Income of associate or joint venture	(205)	26
LP Investments and Other [Member] \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Revenue of associate or joint venture	99	423
Profit (Loss) of associate or joint venture	(145)	127
Other Comprehensive Income of associate or joint venture	(941)	50
Data \| Infrastructure
Disclosure Of Associates And Joint Ventures [Line Items]
Revenue of associate or joint venture	2,245	1,447
Profit (Loss) of associate or joint venture	293	(38)
Other Comprehensive Income of associate or joint venture	374	57
Other [Member] \| Infrastructure
Disclosure Of Associates And Joint Ventures [Line Items]
Revenue of associate or joint venture	107	74
Profit (Loss) of associate or joint venture	2	19
Other Comprehensive Income of associate or joint venture	33	0
LP Investments and Other [Member] \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Revenue of associate or joint venture	945	714
Profit (Loss) of associate or joint venture	(376)	23
Other Comprehensive Income of associate or joint venture	5	0
Core retail \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Revenue of associate or joint venture	1,944	2,430
Profit (Loss) of associate or joint venture	(1,471)	2,114
Other Comprehensive Income of associate or joint venture	0	0
Core office \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Revenue of associate or joint venture	1,866	2,386
Profit (Loss) of associate or joint venture	311	1,869
Other Comprehensive Income of associate or joint venture	(113)	(105)
Midstream \| Infrastructure
Disclosure Of Associates And Joint Ventures [Line Items]
Revenue of associate or joint venture	736	696
Profit (Loss) of associate or joint venture	244	358
Other Comprehensive Income of associate or joint venture	$ 0	$ 0

EQUITY ACCOUNTED INVESTMENTS _5

EQUITY ACCOUNTED INVESTMENTS - Schedule Of Fair Value Of Equity Accounted Investments (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Associates And Joint Ventures [Line Items]
Equity accounted investments	$ 41,327	$ 40,698	$ 33,647
Norbord
Disclosure Of Associates And Joint Ventures [Line Items]
Public Price	0	900
Publicly traded equity accounted investment [Member] \| Norbord
Disclosure Of Associates And Joint Ventures [Line Items]
Public Price	$ 0	$ 1,200

EQUITY ACCOUNTED INVESTMENTS EQ

EQUITY ACCOUNTED INVESTMENTS EQUITY ACCOUNTED INVESTMENTS - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about business combination [line items]
Investment Accounted For Using Equity Method, Additions, Net Of Disposals	$ 2,568	$ 4,676
Proportion of ownership interest in joint venture	50.00%	50.00%
Equity accounted investments	$ 41,327	$ 40,698	$ 33,647
Proportion of ownership interest in joint venture	50.00%	50.00%
Oaktree [Member]
Disclosure of detailed information about business combination [line items]
Investment Accounted For Using Equity Method, Additions, Net Of Disposals	$ 91
Proportion of ownership interest in joint venture	62.00%	61.00%
Equity accounted investments	$ 5,317	$ 5,231
Proportion of ownership interest in joint venture	62.00%	61.00%
Carrying Value, associate	$ 5,317	$ 5,231
Norbord
Disclosure of detailed information about business combination [line items]
Public Price	0	900
Real Estate
Disclosure of detailed information about business combination [line items]
Investment Accounted For Using Equity Method, Additions, Net Of Disposals	517
Equity accounted investments	21,024	22,314
Real Estate \| Core office
Disclosure of detailed information about business combination [line items]
Carrying Value, joint ventures	8,866	9,440
Real Estate \| Core retail
Disclosure of detailed information about business combination [line items]
Carrying Value, joint ventures	9,684	10,555
Real Estate \| LP Investments and Other [Member]
Disclosure of detailed information about business combination [line items]
Carrying Value, joint ventures	2,338	2,012
Real Estate \| LP Investments and Other [Member]
Disclosure of detailed information about business combination [line items]
Carrying Value, associate	136	307
Infrastructure
Disclosure of detailed information about business combination [line items]
Investment Accounted For Using Equity Method, Additions, Net Of Disposals	1,771
Equity accounted investments	10,530	8,972
Infrastructure \| Energy [Member]
Disclosure of detailed information about business combination [line items]
Carrying Value, joint ventures	$ 841	$ 716
Infrastructure \| Other [Member]
Disclosure of detailed information about business combination [line items]
Proportion of ownership interest in joint venture	50.00%	50.00%
Proportion of ownership interest in joint venture	50.00%	50.00%
Carrying Value, joint ventures	$ 226	$ 185
Infrastructure \| Data Infrastructure [Member]
Disclosure of detailed information about business combination [line items]
Carrying Value, associate	3,209	2,920
Infrastructure \| Utilities [Member]
Disclosure of detailed information about business combination [line items]
Carrying Value, associate	1,010	962
Infrastructure \| Transport
Disclosure of detailed information about business combination [line items]
Carrying Value, associate	5,114	4,033
Infrastructure \| Other [Member]
Disclosure of detailed information about business combination [line items]
Carrying Value, associate	130	156
Private Equity
Disclosure of detailed information about business combination [line items]
Investment Accounted For Using Equity Method, Additions, Net Of Disposals	(49)
Equity accounted investments	2,623	2,596
Private Equity \| Other [Member]
Disclosure of detailed information about business combination [line items]
Carrying Value, associate	$ 1,789	$ 557
Private Equity \| Norbord
Disclosure of detailed information about business combination [line items]
Proportion of ownership interest in joint venture	0.00%	43.00%
Proportion of ownership interest in joint venture	0.00%	43.00%
Carrying Value, associate	$ 0	$ 1,185
Private Equity \| Industrial operations [Member]
Disclosure of detailed information about business combination [line items]
Carrying Value, associate	834	854
Renewable Power
Disclosure of detailed information about business combination [line items]
Equity accounted investments	1,444	1,154
Other [Member]
Disclosure of detailed information about business combination [line items]
Investments in Joint Ventures and Associates Accounted for Using the Equity Method	389	431
Renewable Power and Other
Disclosure of detailed information about business combination [line items]
Investment Accounted For Using Equity Method, Additions, Net Of Disposals	238
Equity accounted investments	$ 1,833	$ 1,585
Minimum \| Real Estate \| Core office
Disclosure of detailed information about business combination [line items]
Proportion of ownership interest in joint venture	15.00%	14.00%
Proportion of ownership interest in joint venture	15.00%	14.00%
Minimum \| Real Estate \| Core retail
Disclosure of detailed information about business combination [line items]
Proportion of ownership interest in joint venture	22.00%	12.00%
Proportion of ownership interest in joint venture	22.00%	12.00%
Minimum \| Real Estate \| LP Investments and Other [Member]
Disclosure of detailed information about business combination [line items]
Proportion of ownership interest in joint venture	9.00%	18.00%
Proportion of ownership interest in joint venture	9.00%	18.00%
Minimum \| Real Estate \| LP Investments and Other [Member]
Disclosure of detailed information about business combination [line items]
Proportion of ownership interest in joint venture	16.00%	30.00%
Proportion of ownership interest in joint venture	16.00%	30.00%
Minimum \| Infrastructure \| Data Infrastructure [Member]
Disclosure of detailed information about business combination [line items]
Proportion of ownership interest in joint venture	45.00%	45.00%
Proportion of ownership interest in joint venture	45.00%	45.00%
Minimum \| Infrastructure \| Utilities [Member]
Disclosure of detailed information about business combination [line items]
Proportion of ownership interest in joint venture	11.00%	11.00%
Proportion of ownership interest in joint venture	11.00%	11.00%
Minimum \| Infrastructure \| Transport
Disclosure of detailed information about business combination [line items]
Proportion of ownership interest in joint venture	21.00%	26.00%
Proportion of ownership interest in joint venture	21.00%	26.00%
Minimum \| Infrastructure \| Other [Member]
Disclosure of detailed information about business combination [line items]
Proportion of ownership interest in joint venture	22.00%	22.00%
Proportion of ownership interest in joint venture	22.00%	22.00%
Minimum \| Private Equity \| Other [Member]
Disclosure of detailed information about business combination [line items]
Proportion of ownership interest in joint venture	14.00%	25.00%
Proportion of ownership interest in joint venture	14.00%	25.00%
Minimum \| Private Equity \| Industrial operations [Member]
Disclosure of detailed information about business combination [line items]
Proportion of ownership interest in joint venture	24.00%	24.00%
Proportion of ownership interest in joint venture	24.00%	24.00%
Minimum \| Renewable Power
Disclosure of detailed information about business combination [line items]
Proportion of ownership interest in associate or joint venture	12.00%	14.00%
Proportion of ownership interest in associate or joint venture	12.00%	14.00%
Minimum \| Other [Member]
Disclosure of detailed information about business combination [line items]
Proportion of ownership interest in associate or joint venture	14.00%	16.00%
Proportion of ownership interest in associate or joint venture	14.00%	16.00%
Maximum \| Real Estate \| Core office
Disclosure of detailed information about business combination [line items]
Proportion of ownership interest in joint venture	56.00%	56.00%
Proportion of ownership interest in joint venture	56.00%	56.00%
Maximum \| Real Estate \| Core retail
Disclosure of detailed information about business combination [line items]
Proportion of ownership interest in joint venture	68.00%	68.00%
Proportion of ownership interest in joint venture	68.00%	68.00%
Maximum \| Real Estate \| LP Investments and Other [Member]
Disclosure of detailed information about business combination [line items]
Proportion of ownership interest in joint venture	84.00%	80.00%
Proportion of ownership interest in joint venture	84.00%	80.00%
Maximum \| Real Estate \| LP Investments and Other [Member]
Disclosure of detailed information about business combination [line items]
Proportion of ownership interest in joint venture	50.00%	90.00%
Proportion of ownership interest in joint venture	50.00%	90.00%
Maximum \| Infrastructure \| Data Infrastructure [Member]
Disclosure of detailed information about business combination [line items]
Proportion of ownership interest in joint venture	50.00%	50.00%
Proportion of ownership interest in joint venture	50.00%	50.00%
Maximum \| Infrastructure \| Utilities [Member]
Disclosure of detailed information about business combination [line items]
Proportion of ownership interest in joint venture	50.00%	50.00%
Proportion of ownership interest in joint venture	50.00%	50.00%
Maximum \| Infrastructure \| Transport
Disclosure of detailed information about business combination [line items]
Proportion of ownership interest in joint venture	58.00%	58.00%
Proportion of ownership interest in joint venture	58.00%	58.00%
Maximum \| Infrastructure \| Other [Member]
Disclosure of detailed information about business combination [line items]
Proportion of ownership interest in joint venture	50.00%	50.00%
Proportion of ownership interest in joint venture	50.00%	50.00%
Maximum \| Private Equity \| Other [Member]
Disclosure of detailed information about business combination [line items]
Proportion of ownership interest in joint venture	70.00%	90.00%
Proportion of ownership interest in joint venture	70.00%	90.00%
Maximum \| Private Equity \| Industrial operations [Member]
Disclosure of detailed information about business combination [line items]
Proportion of ownership interest in joint venture	54.00%	54.00%
Proportion of ownership interest in joint venture	54.00%	54.00%
Maximum \| Renewable Power
Disclosure of detailed information about business combination [line items]
Proportion of ownership interest in associate or joint venture	60.00%	60.00%
Proportion of ownership interest in associate or joint venture	60.00%	60.00%
Maximum \| Other [Member]
Disclosure of detailed information about business combination [line items]
Proportion of ownership interest in associate or joint venture	77.00%	85.00%
Proportion of ownership interest in associate or joint venture	77.00%	85.00%

INVESTMENT PROPERTIES - Schedul

INVESTMENT PROPERTIES - Schedule of Changes in Fair Value of Investment Properties (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about investment property [line items]
Fair value, beginning of year	$ 96,686	$ 84,309
Additions	8,180	11,638
Acquisitions through business combinations, investment property		3,669
Right-of-use assets			$ 3,300	$ 2,600
Fair value, end of year3	96,782	96,686
Investment properties	96,782	84,309	96,782	96,686
Investment properties			0	3,669
Dispositions	(9,284)	(6,029)
Fair value changes	(269)	1,710
Foreign currency translation and other	1,276	461
Additions	$ 8,180	11,638
Acquisitions through business combinations, investment property		$ 3,669
Right-of-use assets			3,300	2,600
Investment property [member] \| Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Disclosure of detailed information about investment property [line items]
Right-of-use assets			193	928
Right-of-use assets			$ 193	$ 928

INVESTMENT PROPERTIES - Narrati

INVESTMENT PROPERTIES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Jun. 30, 2020
Disclosure of detailed information about investment property [line items]
Disposals, investment property	$ 9,284	$ 6,029
Realized disposition gains in fair value changes or equity	1,554	621
Revenue	62,752	67,826
Accounts receivable and other	18,928	18,469
Accounts payable and other	50,682	43,077	$ 50,682
Right-of-use assets	3,300	2,600
Additions other than through business combinations, investment property	8,180	11,638
Rental income from investment property	5,700	5,800
Direct operating expense from investment property	2,500	2,400
Acquisitions through business combinations, investment property		3,669
Additions, net of (disposals)1	2,568	4,676
Elimination
Disclosure of detailed information about investment property [line items]
Accounts receivable and other	(2,105)	(162)
Accounts payable and other	(2,105)	162
Asset management
Disclosure of detailed information about investment property [line items]
Revenue	246	271
Elimination of intersegment amounts
Disclosure of detailed information about investment property [line items]
Revenue	3,930	2,823
Elimination of intersegment amounts \| Asset management
Disclosure of detailed information about investment property [line items]
Revenue	$ 3,278	$ 2,343

INVESTMENT PROPERTIES - Sched_2

INVESTMENT PROPERTIES - Schedule of Investment Properties Measured at Fair Value (Details) $ in Millions	Dec. 31, 2020USD ($)yr	Dec. 31, 2019USD ($)yr	Dec. 31, 2018USD ($)
Disclosure of fair value measurement of assets [line items]
Investment properties	$ 96,782	$ 96,686	$ 84,309
Investment properties	$ 96,782	$ 96,686	$ 84,309
Core office \| United States
Disclosure of fair value measurement of assets [line items]
Discount rate applied to cash flow projections, investment property	6.90%	7.00%
Investment properties	$ 15,093	$ 15,748
Terminal Capitalization Rate Used In Current Estimate Of Fair Value	5.60%	5.60%
Investment Horizon Used In Current Estimate Of Fair Value, Investment Property \| yr	12	12
Investment properties	$ 15,093	$ 15,748
Core office \| Canada
Disclosure of fair value measurement of assets [line items]
Discount rate applied to cash flow projections, investment property	5.90%	5.90%
Investment properties	$ 5,102	$ 4,806
Terminal Capitalization Rate Used In Current Estimate Of Fair Value	5.20%	5.20%
Investment Horizon Used In Current Estimate Of Fair Value, Investment Property \| yr	10	10
Investment properties	$ 5,102	$ 4,806
Core office \| Australia
Disclosure of fair value measurement of assets [line items]
Discount rate applied to cash flow projections, investment property	6.60%	6.80%
Investment properties	$ 2,731	$ 2,300
Terminal Capitalization Rate Used In Current Estimate Of Fair Value	5.70%	5.90%
Investment Horizon Used In Current Estimate Of Fair Value, Investment Property \| yr	10	10
Investment properties	$ 2,731	$ 2,300
Core office \| Europe
Disclosure of fair value measurement of assets [line items]
Discount rate applied to cash flow projections, investment property	5.20%	4.60%
Investment properties	$ 2,699	$ 2,867
Terminal Capitalization Rate Used In Current Estimate Of Fair Value	3.80%	4.10%
Investment Horizon Used In Current Estimate Of Fair Value, Investment Property \| yr	10	11
Investment properties	$ 2,699	$ 2,867
Core office \| Brazil
Disclosure of fair value measurement of assets [line items]
Discount rate applied to cash flow projections, investment property	7.60%	7.90%
Investment properties	$ 309	$ 361
Terminal Capitalization Rate Used In Current Estimate Of Fair Value	7.00%	7.40%
Investment Horizon Used In Current Estimate Of Fair Value, Investment Property \| yr	10	10
Investment properties	$ 309	$ 361
Core retail
Disclosure of fair value measurement of assets [line items]
Discount rate applied to cash flow projections, investment property	7.00%	6.70%
Investment properties	$ 20,324	$ 21,561
Terminal Capitalization Rate Used In Current Estimate Of Fair Value	5.30%	5.40%
Investment Horizon Used In Current Estimate Of Fair Value, Investment Property \| yr	10	10
Investment properties	$ 20,324	$ 21,561
LP investments office
Disclosure of fair value measurement of assets [line items]
Discount rate applied to cash flow projections, investment property	9.70%	10.00%
Investment properties	$ 8,727	$ 8,756
Terminal Capitalization Rate Used In Current Estimate Of Fair Value	7.20%	7.30%
Investment Horizon Used In Current Estimate Of Fair Value, Investment Property \| yr	7	7
Investment properties	$ 8,727	$ 8,756
LP investments retail
Disclosure of fair value measurement of assets [line items]
Discount rate applied to cash flow projections, investment property	8.70%	8.80%
Investment properties	$ 2,538	$ 2,812
Terminal Capitalization Rate Used In Current Estimate Of Fair Value	7.00%	7.30%
Investment Horizon Used In Current Estimate Of Fair Value, Investment Property \| yr	10	10
Investment properties	$ 2,538	$ 2,812
Logistics
Disclosure of fair value measurement of assets [line items]
Discount rate applied to cash flow projections, investment property	0.00%	5.80%
Investment properties	$ 0	$ 94
Investment properties	$ 0	$ 94
Multifamily [Member]
Disclosure of fair value measurement of assets [line items]
Discount rate applied to cash flow projections, investment property	4.90%	5.10%
Investment properties	$ 2,442	$ 2,937
Investment properties	$ 2,442	$ 2,937
Triple net lease
Disclosure of fair value measurement of assets [line items]
Discount rate applied to cash flow projections, investment property	6.20%	6.30%
Investment properties	$ 3,719	$ 4,508
Investment properties	$ 3,719	$ 4,508
Self-storage
Disclosure of fair value measurement of assets [line items]
Discount rate applied to cash flow projections, investment property	0.00%	5.60%
Investment properties	$ 0	$ 1,007
Investment properties	$ 0	$ 1,007
Student housing
Disclosure of fair value measurement of assets [line items]
Discount rate applied to cash flow projections, investment property	4.90%	5.80%
Investment properties	$ 2,962	$ 2,605
Investment properties	$ 2,962	$ 2,605
Manufactured housing
Disclosure of fair value measurement of assets [line items]
Discount rate applied to cash flow projections, investment property	4.80%	5.50%
Investment properties	$ 2,784	$ 2,446
Investment properties	$ 2,784	$ 2,446
Mixed-use
Disclosure of fair value measurement of assets [line items]
Discount rate applied to cash flow projections, investment property	7.30%	7.60%
Investment properties	$ 3,096	$ 2,703
Terminal Capitalization Rate Used In Current Estimate Of Fair Value	5.20%	5.40%
Investment Horizon Used In Current Estimate Of Fair Value, Investment Property \| yr	10	10
Investment properties	$ 3,096	$ 2,703
Directly-held real estate properties [Member]
Disclosure of fair value measurement of assets [line items]
Investment properties	$ 22,350	$ 19,814
Terminal Capitalization Rate Used In Current Estimate Of Fair Value	5.40%	6.10%
Investment Horizon Used In Current Estimate Of Fair Value, Investment Property \| yr	19	19
Investment properties	$ 22,350	$ 19,814
Other investment properties
Disclosure of fair value measurement of assets [line items]
Discount rate applied to cash flow projections, investment property		8.90%
Investment properties	1,906	$ 1,361
Investment properties	$ 1,906	$ 1,361

INVESTMENT PROPERTIES - Sched_3

INVESTMENT PROPERTIES - Schedule of Significant Unobservable Inputs (Details) - yr	Dec. 31, 2020	Dec. 31, 2019
Core office \| United States
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate	6.90%	7.00%
Terminal Capitalization Rate	5.60%	5.60%
Investment Horizon (years)	12	12
Core office \| Canada
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate	5.90%	5.90%
Terminal Capitalization Rate	5.20%	5.20%
Investment Horizon (years)	10	10
Core office \| Australia
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate	6.60%	6.80%
Terminal Capitalization Rate	5.70%	5.90%
Investment Horizon (years)	10	10
Core office \| Europe
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate	5.20%	4.60%
Terminal Capitalization Rate	3.80%	4.10%
Investment Horizon (years)	10	11
Core office \| Brazil
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate	7.60%	7.90%
Terminal Capitalization Rate	7.00%	7.40%
Investment Horizon (years)	10	10
Core retail
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate	7.00%	6.70%
Terminal Capitalization Rate	5.30%	5.40%
Investment Horizon (years)	10	10
LP investments office
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate	9.70%	10.00%
Terminal Capitalization Rate	7.20%	7.30%
Investment Horizon (years)	7	7
Opportunistic retail
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate	8.70%	8.80%
Terminal Capitalization Rate	7.00%	7.30%
Investment Horizon (years)	10	10
Mixed-use
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate	7.30%	7.60%
Terminal Capitalization Rate	5.20%	5.40%
Investment Horizon (years)	10	10
Industrial
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate	0.00%	5.80%
Multifamily
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate	4.90%	5.10%
Triple net lease
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate	6.20%	6.30%
Self-storage
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate	0.00%	5.60%
Student housing
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate	4.90%	5.80%
Manufactured housing
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate	4.80%	5.50%
Directly-held real estate properties [Member]
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Terminal Capitalization Rate	5.40%	6.10%
Investment Horizon (years)	19	19
Directly-held real estate properties [Member] \| Maximum
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate	9.30%	9.20%
Directly-held real estate properties [Member] \| Minimum
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate	5.10%	5.20%
Other investment properties
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate		8.90%
Other investment properties \| Maximum
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate		8.70%
Other investment properties \| Minimum
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate		5.00%

PROPERTY, PLANT AND EQUIPMENT -

PROPERTY, PLANT AND EQUIPMENT - Schedule of Property, Plant and Equipment by Operating Segments (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	$ 100,009	$ 89,264
Right-of-use assets	3,300	2,600
Property, plant and equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets	6,700	5,400
Assets subject to operating leases	3,900	3,700
Renewable Power
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	45,206	41,595
Renewable Power \| Property, plant and equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets	393	1,100
Infrastructure
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	32,167	23,772
Infrastructure \| Property, plant and equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets	4,100	2,200
Real Estate
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	8,432	9,729	$ 7,652
Real Estate \| Property, plant and equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets	856	796
Private Equity and Other
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	14,204	14,168	7,121
Private Equity and Other \| Property, plant and equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets		0	1,032
Private Equity and Other [Member] \| Property, plant and equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets	1,300	1,300
Gross carrying amount [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	88,071	77,433
Gross carrying amount [member] \| Renewable Power
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	28,838	27,820	26,108
Gross carrying amount [member] \| Renewable Power \| Property, plant and equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets		0	407
Gross carrying amount [member] \| Infrastructure
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	31,212	22,454	12,059
Gross carrying amount [member] \| Infrastructure \| Property, plant and equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets		0	1,207
Gross carrying amount [member] \| Real Estate
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	9,251	9,890	7,713
Gross carrying amount [member] \| Private Equity and Other
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	18,770	17,269	9,027
Gross carrying amount [member] \| Private Equity and Other \| Property, plant and equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets		0	1,032
Accumulated fair value changes
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	28,384	24,965
Accumulated fair value changes \| Renewable Power
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	24,238	20,465	18,260
Accumulated fair value changes \| Infrastructure
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	4,626	3,777	3,480
Accumulated fair value changes \| Real Estate
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	393	1,366	1,045
Accumulated fair value changes \| Private Equity and Other
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(873)	(643)
Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(16,446)	(13,134)
Accumulated depreciation \| Renewable Power
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(7,870)	(6,690)	(5,497)
Accumulated depreciation \| Infrastructure
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(3,671)	(2,459)	(1,889)
Accumulated depreciation \| Real Estate
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(1,212)	(1,527)	(1,106)
Accumulated depreciation \| Private Equity and Other
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	$ (3,693)	(2,458)	(1,472)
Accumulated depreciation \| Private Equity and Other \| Property, plant and equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets		$ 0	$ 0

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets	$ 3,300	$ 2,600
Property, plant and equipment, revalued assets, at cost	59,000	51,700
Property, plant and equipment, pledged as security	80,200	66,300
Real Estate
Disclosure of detailed information about property, plant and equipment [line items]
Revaluation increase (decrease), property, plant and equipment	$ (159)	$ 323
Brazil \| Renewable Power
Disclosure of detailed information about property, plant and equipment [line items]
Weighted-average remaining duration, property, plant, and equipment	32 years	32 years
Weighted-average remaining duration, property, plant, and equipment	32 years	32 years
Hydroelectric [Member] \| Brazil \| Renewable Power
Disclosure of detailed information about property, plant and equipment [line items]
Renewal term, property, plant, and equipment	30 years
Renewal term, property, plant, and equipment	30 years

PROPERTY, PLANT AND EQUIPMENT_3

PROPERTY, PLANT AND EQUIPMENT - Schedule of Renewable Property, Plant and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	$ 89,264
Changes in basis of accounting	3,300	$ 2,600
Balance, end of period	100,009	89,264
Costs
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	77,433
Balance, end of period	88,071	77,433
Accumulated fair value changes
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	24,965
Balance, end of period	28,384	24,965
Accumulated depreciation and amortisation
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	(13,134)
Balance, end of period	(16,446)	(13,134)
Renewable Power
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	41,595
Balance, end of period	45,206	41,595
Renewable Power \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	27,820	26,108
Additions, net of disposals and assets reclassified as held for sale	700	100
Acquisitions through business combinations	661	1,308
Foreign currency translation	(343)	(103)
Balance, end of period	28,838	27,820
Renewable Power \| Accumulated fair value changes
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	20,465	18,260
Foreign currency translation	(380)	133
Fair value changes	4,153	2,233
Dispositions and assets reclassified as held for sale	0	(161)
Balance, end of period	24,238	20,465
Renewable Power \| Accumulated depreciation and amortisation
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	(6,690)	(5,497)
Foreign currency translation	134	(31)
Dispositions and assets reclassified as held for sale	51	117
Depreciation expenses	(1,365)	(1,279)
Balance, end of period	(7,870)	(6,690)
Hydroelectric [Member] \| Renewable Power
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	26,589
Balance, end of period	29,033	26,589
Hydroelectric [Member] \| Renewable Power \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	14,074	13,843
Additions, net of disposals and assets reclassified as held for sale	425	162
Acquisitions through business combinations	0	0
Foreign currency translation	(600)	(14)
Balance, end of period	13,899	14,074
Hydroelectric [Member] \| Renewable Power \| Accumulated fair value changes
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	16,927	15,416
Foreign currency translation	(283)	142
Fair value changes	3,221	1,369
Dispositions and assets reclassified as held for sale	0	0
Balance, end of period	19,865	16,927
Hydroelectric [Member] \| Renewable Power \| Accumulated depreciation and amortisation
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	(4,412)	(3,879)
Foreign currency translation	181	(8)
Dispositions and assets reclassified as held for sale	17	7
Depreciation expenses	(517)	(532)
Balance, end of period	(4,731)	(4,412)
Wind Energy, Solar and Other \| Renewable Power
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	9,266
Balance, end of period	9,013	9,266
Wind Energy, Solar and Other \| Renewable Power \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	8,459	7,968
Additions, net of disposals and assets reclassified as held for sale	(9)	(342)
Acquisitions through business combinations	0	566
Foreign currency translation	(52)	(54)
Balance, end of period	8,398	8,459
Wind Energy, Solar and Other \| Renewable Power \| Accumulated fair value changes
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	2,588	2,079
Foreign currency translation	(82)	(34)
Fair value changes	402	669
Dispositions and assets reclassified as held for sale	0	(126)
Balance, end of period	2,908	2,588
Wind Energy, Solar and Other \| Renewable Power \| Accumulated depreciation and amortisation
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	(1,781)	(1,358)
Foreign currency translation	9	(22)
Dispositions and assets reclassified as held for sale	25	101
Depreciation expenses	(546)	(502)
Balance, end of period	(2,293)	(1,781)
Solar and Other [Member] \| Renewable Power
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	5,740
Balance, end of period	7,160	5,740
Solar and Other [Member] \| Renewable Power \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	5,287	4,297
Additions, net of disposals and assets reclassified as held for sale	284	280
Acquisitions through business combinations	661	742
Foreign currency translation	309	(35)
Balance, end of period	6,541	5,287
Solar and Other [Member] \| Renewable Power \| Accumulated fair value changes
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	950	765
Foreign currency translation	(15)	25
Fair value changes	530	195
Dispositions and assets reclassified as held for sale	0	(35)
Balance, end of period	1,465	950
Solar and Other [Member] \| Renewable Power \| Accumulated depreciation and amortisation
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	(497)	(260)
Foreign currency translation	(56)	(1)
Dispositions and assets reclassified as held for sale	9	9
Depreciation expenses	(302)	(245)
Balance, end of period	(846)	(497)
North America \| Renewable Power
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	25,617
Balance, end of period	28,044	25,617
Brazil \| Renewable Power
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	3,575
Balance, end of period	3,005	3,575
Colombia \| Renewable Power
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	7,353
Balance, end of period	8,150	7,353
Europe \| Renewable Power
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	3,770
Balance, end of period	4,912	3,770
Other \| Renewable Power
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	1,280
Balance, end of period	1,095	1,280
Property, plant and equipment [member]
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting	6,700	5,400
Property, plant and equipment [member] \| Renewable Power
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting	$ 393	1,100
Property, plant and equipment [member] \| Renewable Power \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting		0	$ 407
Property, plant and equipment [member] \| Hydroelectric [Member] \| Renewable Power \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting		0	83
Property, plant and equipment [member] \| Wind Energy, Solar and Other \| Renewable Power \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting		0	321
Property, plant and equipment [member] \| Solar and Other [Member] \| Renewable Power \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting		$ 0	$ 3

PROPERTY, PLANT AND EQUIPMENT_4

PROPERTY, PLANT AND EQUIPMENT - Schedule of Property, Plant and Equipment Measured at Fair Value (Details)	Dec. 31, 2020USD ($)	Dec. 31, 2020BRL (R$)	Dec. 31, 2020COP ($)	Dec. 31, 2020EUR (€)	Dec. 31, 2019USD ($)
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	$ 100,009,000,000				$ 89,264,000,000
Infrastructure
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	32,167,000,000				23,772,000,000
Renewable Power
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	45,206,000,000				41,595,000,000
Renewable Power \| North America
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	$ 28,044,000,000				25,617,000,000
Renewable Power \| North America \| Later Than One Year And Not Later Than Eleven Years
Disclosure of detailed information about property, plant and equipment [line items]
Total Generation Contracted under Power Purchase Agreements	43.00%	43.00%	43.00%	43.00%
Power Prices from Long-Term Power Purchase Agreements (weighted average)	$ 96
Estimates of Future Electricity Prices (weighted average)	$ 65
Renewable Power \| North America \| Later Than Eleven Years And Not Later Than Twenty Years
Disclosure of detailed information about property, plant and equipment [line items]
Total Generation Contracted under Power Purchase Agreements	13.00%	13.00%	13.00%	13.00%
Power Prices from Long-Term Power Purchase Agreements (weighted average)	$ 90
Estimates of Future Electricity Prices (weighted average)	117
Renewable Power \| Brazil
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	$ 3,005,000,000				3,575,000,000
Renewable Power \| Brazil \| Later Than One Year And Not Later Than Eleven Years
Disclosure of detailed information about property, plant and equipment [line items]
Total Generation Contracted under Power Purchase Agreements	70.00%	70.00%	70.00%	70.00%
Power Prices from Long-Term Power Purchase Agreements (weighted average) \| R$		R$ 306
Estimates of Future Electricity Prices (weighted average) \| R$		R$ 245
Renewable Power \| Brazil \| Later Than Eleven Years And Not Later Than Twenty Years
Disclosure of detailed information about property, plant and equipment [line items]
Total Generation Contracted under Power Purchase Agreements	30.00%	30.00%	30.00%	30.00%
Power Prices from Long-Term Power Purchase Agreements (weighted average) \| R$		R$ 396
Estimates of Future Electricity Prices (weighted average) \| R$		R$ 328
Renewable Power \| Colombia
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	$ 8,150,000,000				7,353,000,000
Renewable Power \| Colombia \| Later Than One Year And Not Later Than Eleven Years
Disclosure of detailed information about property, plant and equipment [line items]
Total Generation Contracted under Power Purchase Agreements	27.00%	27.00%	27.00%	27.00%
Power Prices from Long-Term Power Purchase Agreements (weighted average)			$ 220,000
Estimates of Future Electricity Prices (weighted average)			$ 265,000
Renewable Power \| Colombia \| Later Than Eleven Years And Not Later Than Twenty Years
Disclosure of detailed information about property, plant and equipment [line items]
Total Generation Contracted under Power Purchase Agreements	0.00%	0.00%	0.00%	0.00%
Estimates of Future Electricity Prices (weighted average)			$ 384,000
Renewable Power \| Europe
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	$ 4,912,000,000				$ 3,770,000,000
Renewable Power \| Europe \| Later Than One Year And Not Later Than Eleven Years
Disclosure of detailed information about property, plant and equipment [line items]
Total Generation Contracted under Power Purchase Agreements	87.00%	87.00%	87.00%	87.00%
Power Prices from Long-Term Power Purchase Agreements (weighted average) \| €				€ 167
Estimates of Future Electricity Prices (weighted average) \| €				€ 68
Renewable Power \| Europe \| Later Than Eleven Years And Not Later Than Twenty Years
Disclosure of detailed information about property, plant and equipment [line items]
Total Generation Contracted under Power Purchase Agreements	56.00%	56.00%	56.00%	56.00%
Power Prices from Long-Term Power Purchase Agreements (weighted average) \| €				€ 255
Estimates of Future Electricity Prices (weighted average) \| €				€ 54

PROPERTY, PLANT AND EQUIPMENT_5

PROPERTY, PLANT AND EQUIPMENT - Schedule of Valuation Metrics (Details) - yr	Dec. 31, 2020	Dec. 31, 2019
North America
Disclosure of detailed information about property, plant and equipment [line items]
Terminal Year	2,041	2,040
Brazil
Disclosure of detailed information about property, plant and equipment [line items]
Terminal Year	2,048	2,047
Colombia
Disclosure of detailed information about property, plant and equipment [line items]
Terminal Year	2,040	2,039
Europe
Disclosure of detailed information about property, plant and equipment [line items]
Terminal Year	2,035	2,035
Minimum
Disclosure of detailed information about property, plant and equipment [line items]
Terminal Year	7
Maximum
Disclosure of detailed information about property, plant and equipment [line items]
Terminal Year	21
Utilities [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Terminal Year	10
Utilities [Member] \| Minimum
Disclosure of detailed information about property, plant and equipment [line items]
Terminal Year		10
Utilities [Member] \| Maximum
Disclosure of detailed information about property, plant and equipment [line items]
Terminal Year		20
Transport
Disclosure of detailed information about property, plant and equipment [line items]
Terminal Year	10
Transport \| Minimum
Disclosure of detailed information about property, plant and equipment [line items]
Terminal Year		10
Transport \| Maximum
Disclosure of detailed information about property, plant and equipment [line items]
Terminal Year		20
Energy [Member] \| Minimum
Disclosure of detailed information about property, plant and equipment [line items]
Terminal Year	5	5
Energy [Member] \| Maximum
Disclosure of detailed information about property, plant and equipment [line items]
Terminal Year	10	10
Sustainable Resources [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Terminal Year	10
Sustainable Resources [Member] \| Minimum
Disclosure of detailed information about property, plant and equipment [line items]
Terminal Year		3
Sustainable Resources [Member] \| Maximum
Disclosure of detailed information about property, plant and equipment [line items]
Terminal Year		21
Property, plant and equipment [member] \| Hydroelectric [Member] \| Renewable Power \| Colombia \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Terminal capitalization rate	8.90%	9.80%
Property, plant and equipment [member] \| Hydroelectric [Member] \| Renewable Power \| Minimum \| North America \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Terminal capitalization rate	5.80%	6.20%
Property, plant and equipment [member] \| Hydroelectric [Member] \| Renewable Power \| Maximum \| North America \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Terminal capitalization rate	6.20%	6.70%
Property, plant and equipment [member] \| Utilities [Member] \| Infrastructure \| Minimum \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	7.00%	7.00%
Terminal capitalization rate	700.00%	800.00%
Property, plant and equipment [member] \| Utilities [Member] \| Infrastructure \| Maximum \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	14.00%	14.00%
Terminal capitalization rate	2300.00%	2100.00%
Property, plant and equipment [member] \| Transport \| Infrastructure \| Minimum \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	7.00%	7.00%
Terminal capitalization rate	900.00%	900.00%
Property, plant and equipment [member] \| Transport \| Infrastructure \| Maximum \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	13.00%	13.00%
Terminal capitalization rate	1400.00%	1400.00%
Property, plant and equipment [member] \| Energy [Member] \| Infrastructure \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	15.00%	15.00%
Terminal capitalization rate	1000.00%	1000.00%
Property, plant and equipment [member] \| Sustainable Resources [Member] \| Infrastructure \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	600.00%
Terminal capitalization rate	600.00%
Property, plant and equipment [member] \| Sustainable Resources [Member] \| Infrastructure \| Minimum \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates		5.00%
Terminal capitalization rate		500.00%
Property, plant and equipment [member] \| Sustainable Resources [Member] \| Infrastructure \| Maximum \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates		10.00%
Terminal capitalization rate		1000.00%
Property, plant and equipment [member] \| Contracted [Member] \| Renewable Power \| Brazil \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	7.30%	8.20%
Property, plant and equipment [member] \| Contracted [Member] \| Renewable Power \| Colombia \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	8.10%	9.00%
Property, plant and equipment [member] \| Contracted [Member] \| Renewable Power \| Minimum \| North America \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	4.10%	4.60%
Property, plant and equipment [member] \| Contracted [Member] \| Renewable Power \| Minimum \| Europe \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	3.00%	3.50%
Property, plant and equipment [member] \| Contracted [Member] \| Renewable Power \| Maximum \| North America \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	4.50%	4.90%
Property, plant and equipment [member] \| Contracted [Member] \| Renewable Power \| Maximum \| Europe \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	3.60%	4.00%
Property, plant and equipment [member] \| Uncontracted [Member] \| Renewable Power \| Brazil \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	8.60%	9.50%
Property, plant and equipment [member] \| Uncontracted [Member] \| Renewable Power \| Colombia \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	9.40%	10.30%
Property, plant and equipment [member] \| Uncontracted [Member] \| Renewable Power \| Minimum \| North America \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	5.60%	6.10%
Property, plant and equipment [member] \| Uncontracted [Member] \| Renewable Power \| Minimum \| Europe \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	3.60%	4.00%
Property, plant and equipment [member] \| Uncontracted [Member] \| Renewable Power \| Maximum \| North America \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	6.00%	6.40%
Property, plant and equipment [member] \| Uncontracted [Member] \| Renewable Power \| Maximum \| Europe \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	4.70%	5.30%

PROPERTY, PLANT AND EQUIPMENT_6

PROPERTY, PLANT AND EQUIPMENT - Schedule of Infrastructure Property, Plant and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	$ 89,264
Changes in basis of accounting			$ 3,300	$ 2,600
Balance, end of period	100,009	$ 89,264
Property, plant and equipment	89,264	89,264	100,009	89,264
Right-of-use assets			3,300	2,600
Costs
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	77,433
Balance, end of period	88,071	77,433
Property, plant and equipment	77,433	77,433	88,071	77,433
Accumulated fair value changes
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	24,965
Balance, end of period	28,384	24,965
Property, plant and equipment	24,965	24,965	28,384	24,965
Accumulated depreciation and amortisation
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	(13,134)
Balance, end of period	(16,446)	(13,134)
Property, plant and equipment	(13,134)	(13,134)	(16,446)	(13,134)
Infrastructure
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	23,772
Balance, end of period	32,167	23,772
Property, plant and equipment	23,772	23,772	32,167	23,772
Infrastructure \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	22,454	12,059
Additions, net of disposals and assets reclassified as held for sale	1,008	273
Acquisitions through business combinations	7,334	8,710
Foreign currency translation	416	205
Balance, end of period	31,212	22,454
Property, plant and equipment	22,454	12,059	31,212	22,454	$ 12,059
Additions, net of disposals and assets reclassified as held for sale	1,008	273
Acquisitions through business combinations, property, plant and equipment	7,334	8,710
Foreign currency translation	416	205
Infrastructure \| Accumulated fair value changes
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	3,777	3,480
Dispositions and assets reclassified as held for sale	0	(453)
Fair value changes	792	715
Foreign currency translation	57	35
Balance, end of period	4,626	3,777
Property, plant and equipment	3,777	3,777	4,626	3,777	3,480
Foreign currency translation	57	35
Disposals, property, plant and equipment	0	453
Fair value changes	792	715
Infrastructure \| Accumulated depreciation and amortisation
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	(2,459)	(1,889)
Depreciation expenses	(1,257)	(774)
Dispositions and assets reclassified as held for sale	170	232
Foreign currency translation	(125)	(28)
Balance, end of period	(3,671)	(2,459)
Property, plant and equipment	(2,459)	(2,459)	(3,671)	(2,459)	(1,889)
Foreign currency translation	(125)	(28)
Disposals, property, plant and equipment	(170)	(232)
Depreciation, property, plant and equipment	1,257	774
Utilities [Member] \| Infrastructure
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	9,669
Balance, end of period	10,610	9,669
Property, plant and equipment	9,669	9,669	10,610	9,669
Utilities [Member] \| Infrastructure \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	8,654	6,248
Additions, net of disposals and assets reclassified as held for sale	550	34
Acquisitions through business combinations	0	2,135
Foreign currency translation	102	127
Balance, end of period	9,306	8,654
Property, plant and equipment	8,654	8,654	9,306	8,654	6,248
Additions, net of disposals and assets reclassified as held for sale	550	34
Acquisitions through business combinations, property, plant and equipment	0	2,135
Foreign currency translation	102	127
Utilities [Member] \| Infrastructure \| Accumulated fair value changes
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	2,187	2,002
Dispositions and assets reclassified as held for sale	0	(416)
Fair value changes	652	572
Foreign currency translation	78	29
Balance, end of period	2,917	2,187
Property, plant and equipment	2,187	2,187	2,917	2,187	2,002
Foreign currency translation	78	29
Disposals, property, plant and equipment	0	416
Fair value changes	652	572
Utilities [Member] \| Infrastructure \| Accumulated depreciation and amortisation
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	(1,172)	(985)
Depreciation expenses	(419)	(415)
Dispositions and assets reclassified as held for sale	12	247
Foreign currency translation	(34)	(19)
Balance, end of period	(1,613)	(1,172)
Property, plant and equipment	(1,613)	(985)	(1,613)	(1,172)	(985)
Foreign currency translation	(34)	(19)
Disposals, property, plant and equipment	(12)	(247)
Depreciation, property, plant and equipment	419	415
Transport \| Infrastructure
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	8,216
Balance, end of period	8,341	8,216
Property, plant and equipment	8,216	8,216	8,341	8,216
Transport \| Infrastructure \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	8,309	2,495
Additions, net of disposals and assets reclassified as held for sale	146	171
Acquisitions through business combinations	0	5,283
Foreign currency translation	243	4
Balance, end of period	8,698	8,309
Property, plant and equipment	8,698	2,495	8,698	8,309	2,495
Additions, net of disposals and assets reclassified as held for sale	146	171
Acquisitions through business combinations, property, plant and equipment	0	5,283
Foreign currency translation	243	4
Transport \| Infrastructure \| Accumulated fair value changes
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	857	810
Dispositions and assets reclassified as held for sale	0	0
Fair value changes	113	45
Foreign currency translation	77	2
Balance, end of period	1,047	857
Property, plant and equipment	1,047	810	1,047	857	810
Foreign currency translation	77	2
Disposals, property, plant and equipment	0	0
Fair value changes	113	45
Transport \| Infrastructure \| Accumulated depreciation and amortisation
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	(950)	(744)
Depreciation expenses	(498)	(178)
Dispositions and assets reclassified as held for sale	134	(25)
Foreign currency translation	(90)	(3)
Balance, end of period	(1,404)	(950)
Property, plant and equipment	(1,404)	(744)	(1,404)	(950)	(744)
Foreign currency translation	(90)	(3)
Disposals, property, plant and equipment	(134)	25
Depreciation, property, plant and equipment	498	178
Energy [Member] \| Infrastructure
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	4,080
Balance, end of period	4,303	4,080
Property, plant and equipment	4,080	4,080	4,303	4,080
Energy [Member] \| Infrastructure \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	3,971	2,443
Additions, net of disposals and assets reclassified as held for sale	277	136
Acquisitions through business combinations	0	1,197
Foreign currency translation	73	87
Balance, end of period	4,321	3,971
Property, plant and equipment	4,321	2,443	4,321	3,971	2,443
Additions, net of disposals and assets reclassified as held for sale	277	136
Acquisitions through business combinations, property, plant and equipment	0	1,197
Foreign currency translation	73	87
Energy [Member] \| Infrastructure \| Accumulated fair value changes
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	317	221
Dispositions and assets reclassified as held for sale	0	0
Fair value changes	21	92
Foreign currency translation	0	4
Balance, end of period	338	317
Property, plant and equipment	338	221	338	317	221
Foreign currency translation	0	4
Disposals, property, plant and equipment	0	0
Fair value changes	21	92
Energy [Member] \| Infrastructure \| Accumulated depreciation and amortisation
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	(208)	(120)
Depreciation expenses	(141)	(84)
Dispositions and assets reclassified as held for sale	0	3
Foreign currency translation	(7)	(7)
Balance, end of period	(356)	(208)
Property, plant and equipment	(356)	(120)	(356)	(208)	(120)
Foreign currency translation	(7)	(7)
Disposals, property, plant and equipment	0	(3)
Depreciation, property, plant and equipment	141	84
Data Infrastructure [Member] \| Infrastructure
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	1,043
Balance, end of period	8,330	1,043
Property, plant and equipment	1,043	1,043	8,330	1,043
Data Infrastructure [Member] \| Infrastructure \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	1,131	444
Additions, net of disposals and assets reclassified as held for sale	51	(43)
Acquisitions through business combinations	7,334	95
Foreign currency translation	77	2
Balance, end of period	8,593	1,131
Property, plant and equipment	8,593	444	8,593	1,131	444
Additions, net of disposals and assets reclassified as held for sale	51	(43)
Acquisitions through business combinations, property, plant and equipment	7,334	95
Foreign currency translation	77	2
Data Infrastructure [Member] \| Infrastructure \| Accumulated fair value changes
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	0	0
Dispositions and assets reclassified as held for sale	0	0
Fair value changes	0	0
Foreign currency translation	0	0
Balance, end of period	0	0
Property, plant and equipment	0	0	0	0	0
Foreign currency translation	0	0
Disposals, property, plant and equipment	0	0
Fair value changes	0	0
Data Infrastructure [Member] \| Infrastructure \| Accumulated depreciation and amortisation
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	(88)	0
Depreciation expenses	(189)	(87)
Dispositions and assets reclassified as held for sale	17	0
Foreign currency translation	(3)	(1)
Balance, end of period	(263)	(88)
Property, plant and equipment	(263)	0	(263)	(88)	0
Foreign currency translation	(3)	(1)
Disposals, property, plant and equipment	(17)	0
Depreciation, property, plant and equipment	189	87
Sustainable Resources [Member] \| Infrastructure
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	764
Balance, end of period	583	764
Property, plant and equipment	764	764	583	764
Sustainable Resources [Member] \| Infrastructure \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	389	429
Additions, net of disposals and assets reclassified as held for sale	(16)	(25)
Acquisitions through business combinations	0	0
Foreign currency translation	(79)	(15)
Balance, end of period	294	389
Property, plant and equipment	389	389	294	389	429
Additions, net of disposals and assets reclassified as held for sale	(16)	(25)
Acquisitions through business combinations, property, plant and equipment	0	0
Foreign currency translation	(79)	(15)
Sustainable Resources [Member] \| Infrastructure \| Accumulated fair value changes
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	416	447
Dispositions and assets reclassified as held for sale	0	(37)
Fair value changes	6	6
Foreign currency translation	(98)	0
Balance, end of period	324	416
Property, plant and equipment	324	447	324	416	447
Foreign currency translation	(98)	0
Disposals, property, plant and equipment	0	37
Fair value changes	6	6
Sustainable Resources [Member] \| Infrastructure \| Accumulated depreciation and amortisation
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	(41)	(40)
Depreciation expenses	(10)	(10)
Dispositions and assets reclassified as held for sale	7	7
Foreign currency translation	9	2
Balance, end of period	(35)	(41)
Property, plant and equipment	(35)	(40)	(35)	(41)	(40)
Foreign currency translation	9	2
Disposals, property, plant and equipment	(7)	(7)
Depreciation, property, plant and equipment	$ 10	$ 10
Property, plant and equipment [member]
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting			6,700	5,400
Right-of-use assets			6,700	5,400
Property, plant and equipment [member] \| Infrastructure
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting			4,100	2,200
Right-of-use assets			$ 4,100	2,200
Property, plant and equipment [member] \| Infrastructure \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting				0	1,207
Right-of-use assets				0	1,207
Property, plant and equipment [member] \| Utilities [Member] \| Infrastructure \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting				0	110
Right-of-use assets				0	110
Property, plant and equipment [member] \| Transport \| Infrastructure \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting				0	356
Right-of-use assets				0	356
Property, plant and equipment [member] \| Energy [Member] \| Infrastructure \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting				0	108
Right-of-use assets				0	108
Property, plant and equipment [member] \| Data Infrastructure [Member] \| Infrastructure \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting				0	633
Right-of-use assets				0	633
Property, plant and equipment [member] \| Sustainable Resources [Member] \| Infrastructure \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting				0	0
Right-of-use assets				$ 0	$ 0

PROPERTY, PLANT AND EQUIPMENT_7

PROPERTY, PLANT AND EQUIPMENT (Details) - yr	Dec. 31, 2020	Dec. 31, 2019
Minimum
Disclosure of detailed information about property, plant and equipment [line items]
Terminal Year	7
Maximum
Disclosure of detailed information about property, plant and equipment [line items]
Terminal Year	21
Utilities [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Terminal Year	10
Utilities [Member] \| Minimum
Disclosure of detailed information about property, plant and equipment [line items]
Terminal Year		10
Utilities [Member] \| Maximum
Disclosure of detailed information about property, plant and equipment [line items]
Terminal Year		20
Transport
Disclosure of detailed information about property, plant and equipment [line items]
Terminal Year	10
Transport \| Minimum
Disclosure of detailed information about property, plant and equipment [line items]
Terminal Year		10
Transport \| Maximum
Disclosure of detailed information about property, plant and equipment [line items]
Terminal Year		20
Energy [Member] \| Minimum
Disclosure of detailed information about property, plant and equipment [line items]
Terminal Year	5	5
Energy [Member] \| Maximum
Disclosure of detailed information about property, plant and equipment [line items]
Terminal Year	10	10
Sustainable Resources [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Terminal Year	10
Sustainable Resources [Member] \| Minimum
Disclosure of detailed information about property, plant and equipment [line items]
Terminal Year		3
Sustainable Resources [Member] \| Maximum
Disclosure of detailed information about property, plant and equipment [line items]
Terminal Year		21
Property, plant and equipment [member] \| Utilities [Member] \| Infrastructure \| Discounted cash flows \| Minimum
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	7.00%	7.00%
Terminal capitalization rate	700.00%	800.00%
Property, plant and equipment [member] \| Utilities [Member] \| Infrastructure \| Discounted cash flows \| Maximum
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	14.00%	14.00%
Terminal capitalization rate	2300.00%	2100.00%
Property, plant and equipment [member] \| Transport \| Infrastructure \| Discounted cash flows \| Minimum
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	7.00%	7.00%
Terminal capitalization rate	900.00%	900.00%
Property, plant and equipment [member] \| Transport \| Infrastructure \| Discounted cash flows \| Maximum
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	13.00%	13.00%
Terminal capitalization rate	1400.00%	1400.00%
Property, plant and equipment [member] \| Energy [Member] \| Infrastructure \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	15.00%	15.00%
Terminal capitalization rate	1000.00%	1000.00%
Property, plant and equipment [member] \| Sustainable Resources [Member] \| Infrastructure \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	600.00%
Terminal capitalization rate	600.00%
Property, plant and equipment [member] \| Sustainable Resources [Member] \| Infrastructure \| Discounted cash flows \| Minimum
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates		5.00%
Terminal capitalization rate		500.00%
Property, plant and equipment [member] \| Sustainable Resources [Member] \| Infrastructure \| Discounted cash flows \| Maximum
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates		10.00%
Terminal capitalization rate		1000.00%

PROPERTY, PLANT AND EQUIPMENT_8

PROPERTY, PLANT AND EQUIPMENT - Schedule of Real Estate Assets, Private Equity and Other (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	$ 89,264
Changes in basis of accounting	3,300	$ 2,600
Balance, end of period	100,009	89,264
Costs
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	77,433
Balance, end of period	88,071	77,433
Accumulated Fair Value Changes
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	24,965
Balance, end of period	28,384	24,965
Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	(13,134)
Balance, end of period	(16,446)	(13,134)
Real Estate
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	9,729	7,652
Additions, net of disposals and assets reclassified as held for sale	915	549
Acquisitions through business combinations	0	785
Foreign currency translation	194	94
Fair value changes	(159)	323
Depreciation expenses	(457)	(443)
Balance, end of period	8,432	9,729
Real Estate \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	9,890	7,713
Additions, net of disposals and assets reclassified as held for sale	1,023	514
Acquisitions through business combinations	0	785
Foreign currency translation	233	109
Fair value changes	0	0
Depreciation expenses	0	0
Balance, end of period	9,251	9,890
Real Estate \| Accumulated Fair Value Changes
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	1,366	1,045
Additions, net of disposals and assets reclassified as held for sale	(135)	(2)
Acquisitions through business combinations	0	0
Foreign currency translation	2	0
Fair value changes	(159)	323
Depreciation expenses	0	0
Balance, end of period	393	1,366
Real Estate \| Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	(1,527)	(1,106)
Additions, net of disposals and assets reclassified as held for sale	27	37
Acquisitions through business combinations	0	0
Foreign currency translation	(41)	(15)
Fair value changes	0	0
Depreciation expenses	(457)	(443)
Balance, end of period	(1,212)	(1,527)
Private Equity and Other
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	14,168	7,121
Additions, net of disposals and assets reclassified as held for sale	1,221	809
Acquisitions through business combinations	84	6,650
Foreign currency translation	479	26
Depreciation expenses	(1,464)	(1,274)
Impairment charges	(284)	(196)
Balance, end of period	14,204	14,168
Private Equity and Other \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	17,269	9,027
Additions, net of disposals and assets reclassified as held for sale	874	477
Acquisitions through business combinations	84	6,650
Foreign currency translation	543	83
Depreciation expenses	0	0
Impairment charges	0	0
Balance, end of period	18,770	17,269
Private Equity and Other \| Accumulated Fair Value Changes
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	(643)
Balance, end of period	(873)	(643)
Private Equity and Other \| Accumulated Impairment
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	(643)	(434)
Additions, net of disposals and assets reclassified as held for sale	57	0
Acquisitions through business combinations	0	0
Foreign currency translation	(3)	(13)
Depreciation expenses	0	0
Impairment charges	(284)	(196)
Balance, end of period	(873)	(643)
Private Equity and Other \| Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	(2,458)	(1,472)
Additions, net of disposals and assets reclassified as held for sale	290	332
Acquisitions through business combinations	0	0
Foreign currency translation	(61)	(44)
Depreciation expenses	(1,464)	(1,274)
Impairment charges	0	0
Balance, end of period	(3,693)	(2,458)
Property, plant and equipment [member]
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting	6,700	5,400
Property, plant and equipment [member] \| Real Estate
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting	$ 856	796
Property, plant and equipment [member] \| Real Estate \| Change in property, plant and equipment policy
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting		(1,790)	$ 769
Property, plant and equipment [member] \| Real Estate \| Costs \| Change in property, plant and equipment policy
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting		(1,895)	769
Property, plant and equipment [member] \| Real Estate \| Accumulated Fair Value Changes \| Change in property, plant and equipment policy
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting		(681)	0
Property, plant and equipment [member] \| Real Estate \| Accumulated depreciation \| Change in property, plant and equipment policy
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting		786	0
Property, plant and equipment [member] \| Private Equity and Other
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting		0	1,032
Property, plant and equipment [member] \| Private Equity and Other \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting		0	1,032
Property, plant and equipment [member] \| Private Equity and Other \| Accumulated Impairment
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting		0	0
Property, plant and equipment [member] \| Private Equity and Other \| Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting		$ 0	$ 0

INTANGIBLE ASSETS - Schedule of

INTANGIBLE ASSETS - Schedule of Changes in Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of changes in intangible assets other than goodwill [abstract]
Beginning balance	$ 27,710	$ 18,762
Additions	452	445
Disposals, intangible assets other than goodwill	1,939	367
Acquisitions through business combinations	625	10,333
Amortization	(1,310)	(1,141)
Revaluation increase (decrease), intangible assets other than goodwill	(85)	0
Foreign currency translation	(965)	(322)
Ending balance	24,658	27,710
Intangible assets	27,710	18,762	$ 24,658	$ 27,710
Additions	452	445
Disposals, intangible assets other than goodwill	1,939	367
Acquisitions through business combinations	625	10,333
Amortisation, intangible assets other than goodwill	1,310	1,141
Foreign currency translation	(965)	(322)
Costs
Reconciliation of changes in intangible assets other than goodwill [abstract]
Beginning balance	30,232	20,304
Additions	452	445
Disposals, intangible assets other than goodwill	2,246	499
Acquisitions through business combinations		10,333
Amortization	0	0
Revaluation increase (decrease), intangible assets other than goodwill	(78)	0
Foreign currency translation	(1,195)	(351)
Ending balance	27,946	30,232
Identifiable intangible assets recognised as of acquisition date			625	10,333
Intangible assets	27,946	20,304	27,946	30,232
Additions	452	445
Disposals, intangible assets other than goodwill	2,246	499
Acquisitions through business combinations		10,333
Amortisation, intangible assets other than goodwill	0	0
Foreign currency translation	(1,195)	(351)
Accumulated Amortization and Impairment
Reconciliation of changes in intangible assets other than goodwill [abstract]
Beginning balance	(2,522)	(1,542)
Additions	0	0
Disposals, intangible assets other than goodwill	(307)	(132)
Acquisitions through business combinations	0	0
Amortization	(1,310)	(1,141)
Revaluation increase (decrease), intangible assets other than goodwill	(7)	0
Foreign currency translation	230	29
Ending balance	(3,288)	(2,522)
Intangible assets	(3,288)	(1,542)	$ (3,288)	$ (2,522)
Additions	0	0
Disposals, intangible assets other than goodwill	(307)	(132)
Acquisitions through business combinations	0	0
Amortisation, intangible assets other than goodwill	1,310	1,141
Foreign currency translation	$ 230	$ 29

INTANGIBLE ASSETS - Schedule _2

INTANGIBLE ASSETS - Schedule of Intangible Assets by Geography (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about intangible assets [line items]
Intangible assets	$ 24,658	$ 27,710	$ 18,762
Intangible assets	$ 24,658	$ 27,710	$ 18,762

INTANGIBLE ASSETS - Schedule _3

INTANGIBLE ASSETS - Schedule of Intangible Assets by Operating Segment (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about intangible assets [line items]
Intangible assets	$ 24,658	$ 27,710	$ 18,762
Intangible assets	24,658	27,710	$ 18,762
Infrastructure
Disclosure of detailed information about intangible assets [line items]
Intangible assets	11,769	14,388
Intangible assets	11,769	14,388
Private equity
Disclosure of detailed information about intangible assets [line items]
Intangible assets	11,261	11,650
Intangible assets	11,261	11,650
Real Estate
Disclosure of detailed information about intangible assets [line items]
Intangible assets	1,177	1,301
Intangible assets	1,177	1,301
Renewable power and other
Disclosure of detailed information about intangible assets [line items]
Intangible assets	451	371
Intangible assets	$ 451	$ 371

INTANGIBLE ASSETS - Narrative (

INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about intangible assets [line items]
Intangible assets	$ 24,658	$ 27,710	$ 18,762
Infrastructure
Disclosure of detailed information about intangible assets [line items]
Intangible assets	11,769	14,388
Private Equity
Disclosure of detailed information about intangible assets [line items]
Intangible assets	11,261	11,650
North American Rail Operations [Member] \| Infrastructure
Disclosure of detailed information about intangible assets [line items]
Intangible assets with indefinite useful life	876	667
Service concession arrangements [member] \| Private Equity
Disclosure of detailed information about intangible assets [line items]
Intangible assets	1,800	1,800
Service concession arrangements [member] \| Brazilian regulated gas transmission business [Member] \| Infrastructure
Disclosure of detailed information about intangible assets [line items]
Intangible assets	2,900	3,900
Service concession arrangements [member] \| Indian Toll Road [Member] \| Infrastructure
Disclosure of detailed information about intangible assets [line items]
Intangible assets	2,600	2,700
Access agreements [Member] \| Australian regulated terminal [Member] \| Infrastructure
Disclosure of detailed information about intangible assets [line items]
Intangible assets		1,800
Customer-related intangible assets [member] \| Private Equity
Disclosure of detailed information about intangible assets [line items]
Intangible assets	$ 5,100	5,300
Useful Lives Or Amortisation Rates, Intangible Assets Other Than Goodwill, Period	30 years
Customer-related intangible assets [member] \| North American Rail Operations [Member] \| Infrastructure
Disclosure of detailed information about intangible assets [line items]
Intangible assets	$ 1,900	2,000
Customer-related intangible assets [member] \| Residential infrastructure operation [Member] \| Infrastructure
Disclosure of detailed information about intangible assets [line items]
Intangible assets	$ 1,400	1,400
Customer-related intangible assets [member] \| Bottom of range \| North American Rail Operations [Member] \| Infrastructure
Disclosure of detailed information about intangible assets [line items]
Useful Lives Or Amortisation Rates, Intangible Assets Other Than Goodwill, Period	10 years
Customer-related intangible assets [member] \| Bottom of range \| Residential infrastructure operation [Member] \| Infrastructure
Disclosure of detailed information about intangible assets [line items]
Useful Lives Or Amortisation Rates, Intangible Assets Other Than Goodwill, Period	10 years
Customer-related intangible assets [member] \| Top of range \| North American Rail Operations [Member] \| Infrastructure
Disclosure of detailed information about intangible assets [line items]
Useful Lives Or Amortisation Rates, Intangible Assets Other Than Goodwill, Period	20 years
Customer-related intangible assets [member] \| Top of range \| Residential infrastructure operation [Member] \| Infrastructure
Disclosure of detailed information about intangible assets [line items]
Useful Lives Or Amortisation Rates, Intangible Assets Other Than Goodwill, Period	20 years
Copyrights, patents and other industrial property rights, service and operating rights [member] \| Private Equity
Disclosure of detailed information about intangible assets [line items]
Intangible assets	$ 3,200	$ 3,200
Useful Lives Or Amortisation Rates, Intangible Assets Other Than Goodwill, Period	15 years

GOODWILL - Schedule of Changes

GOODWILL - Schedule of Changes in Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of changes in goodwill [abstract]
Beginning balance	$ 14,550	$ 8,815
Acquisitions through business combinations	145	6,125
Impairment losses	(3)	(453)
Foreign currency translation and other	22	63
Ending balance	14,714	14,550
Acquisitions through business combinations	145	6,125
Goodwill	14,550	14,550
Impairment loss recognised in profit or loss, goodwill	3	453
Foreign currency translation and other	22	63
Costs
Reconciliation of changes in goodwill [abstract]
Beginning balance	15,412	9,198
Acquisitions through business combinations	145	6,125
Impairment losses	0	0
Foreign currency translation and other	(18)	89
Ending balance	15,539	15,412
Acquisitions through business combinations	145	6,125
Goodwill	15,539	9,198
Impairment loss recognised in profit or loss, goodwill	0	0
Foreign currency translation and other	(18)	89
Accumulated Impairment
Reconciliation of changes in goodwill [abstract]
Beginning balance	(862)	(383)
Acquisitions through business combinations	0	0
Impairment losses	(3)	(453)
Foreign currency translation and other	40	(26)
Ending balance	(825)	(862)
Acquisitions through business combinations	0	0
Goodwill	(862)	(862)
Impairment loss recognised in profit or loss, goodwill	3	453
Foreign currency translation and other	$ 40	$ (26)

GOODWILL - Schedule of Goodwill

GOODWILL - Schedule of Goodwill By Geography (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	$ 14,714	$ 14,550	$ 8,815

GOODWILL - Schedule of Goodwi_2

GOODWILL - Schedule of Goodwill By Operating Segments (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	$ 14,714	$ 14,550	$ 8,815
Infrastructure
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	6,634	6,553
Private Equity
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	5,244	5,218
Real Estate
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	1,404	1,357
Renewable Power
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	970	977
Asset management
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	368	328
Other
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	$ 94	$ 117

GOODWILL - Narrative (Details)

GOODWILL - Narrative (Details) $ in Millions	12 Months Ended
GOODWILL - Narrative (Details) $ in Millions	Dec. 31, 2020USD ($)yr	Dec. 31, 2019USD ($)yr	Dec. 30, 2019USD ($)	Dec. 31, 2018USD ($)
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	$ 14,714	$ 14,550		$ 8,815
Impairment loss recognised in profit or loss, goodwill	3	453
Acquisitions through business combinations	$ 145	$ 6,125
Actuarial assumption of discount rates	2.00%	3.00%
Minimum
Disclosure of reconciliation of changes in goodwill [line items]
Terminal Year \| yr	7
Maximum
Disclosure of reconciliation of changes in goodwill [line items]
Terminal Year \| yr	21
Utilities [Member]
Disclosure of reconciliation of changes in goodwill [line items]
Terminal Year \| yr	10
Utilities [Member] \| Minimum
Disclosure of reconciliation of changes in goodwill [line items]
Terminal Year \| yr		10
Utilities [Member] \| Maximum
Disclosure of reconciliation of changes in goodwill [line items]
Terminal Year \| yr		20
North America
Disclosure of reconciliation of changes in goodwill [line items]
Terminal Year \| yr	2,041	2,040
Infrastructure
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	$ 6,634	$ 6,553
Infrastructure \| Property, plant and equipment [member] \| Utilities [Member] \| Discounted cash flows \| Minimum
Disclosure of reconciliation of changes in goodwill [line items]
Terminal capitalization rate	700.00%	800.00%
Infrastructure \| Property, plant and equipment [member] \| Utilities [Member] \| Discounted cash flows \| Maximum
Disclosure of reconciliation of changes in goodwill [line items]
Terminal capitalization rate	2300.00%	2100.00%
Infrastructure \| Goodwill [member] \| Discounted cash flows \| Minimum
Disclosure of reconciliation of changes in goodwill [line items]
Terminal capitalization rate	900.00%
Actuarial assumption of discount rates	11.00%
Infrastructure \| Goodwill [member] \| Discounted cash flows \| Maximum
Disclosure of reconciliation of changes in goodwill [line items]
Terminal capitalization rate	1200.00%
Actuarial assumption of discount rates	14.00%
Private Equity
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	$ 5,244	$ 5,218
Terminal growth rate	2.60%	1.50%
Terminal Year \| yr	2,025	2,024
Discount rate used in current estimate of value in use	9.90%	9.40%
Real Estate
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	$ 1,404	$ 1,357
Growth rate used to extrapolate cash flow projections		2.80%
Renewable Power
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	$ 970	$ 977
Renewable Power \| Property, plant and equipment [member] \| North America \| Hydroelectric [Member] \| Discounted cash flows \| Minimum
Disclosure of reconciliation of changes in goodwill [line items]
Terminal capitalization rate	5.80%	6.20%
Renewable Power \| Property, plant and equipment [member] \| North America \| Hydroelectric [Member] \| Discounted cash flows \| Maximum
Disclosure of reconciliation of changes in goodwill [line items]
Terminal capitalization rate	6.20%	6.70%
Genesee and Wyoming [Member] \| Infrastructure
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	$ 2,042		$ 2,000
Healthscope \| Private Equity
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	1,548
Clarios \| Private Equity
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	$ 1,894
Center Parcs [Member] \| Real Estate
Disclosure of reconciliation of changes in goodwill [line items]
Discount rate used in current estimate of value in use	9.50%	7.90%
Growth rate used to extrapolate cash flow projections	3.00%	2.00%
IFC Seoul \| Real Estate
Disclosure of reconciliation of changes in goodwill [line items]
Discount rate used in current estimate of value in use	7.20%	7.50%
Growth rate used to extrapolate cash flow projections	2.80%	2.80%

INCOME TAXES - Components Of In

INCOME TAXES - Components Of Income Tax Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Taxes [Abstract]
Current income tax expense	$ 756	$ 970
Deferred income tax expense / (recovery)
Origination and reversal of temporary differences	(103)	281
Expense / (recovery) arising from previously unrecognized tax assets	2	(647)
Change of tax rates and new legislation	182	(109)
Total deferred income tax expense / (recovery)	81	(475)
Income tax expense	$ 837	$ 495

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Billions	12 Months Ended
INCOME TAXES - Narrative (Details) - USD ($) $ in Billions	Dec. 31, 2020	Dec. 31, 2019
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Statutory income tax rate	26.00%	26.00%
Deductible temporary differences for which no deferred tax liabilities is recognised	$ 5	$ 5
Domestic Tax Authority
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Statutory income tax rate	26.00%

INCOME TAXES - Schedule Of Inco

INCOME TAXES - Schedule Of Income Tax Rates (Details)	12 Months Ended
INCOME TAXES - Schedule Of Income Tax Rates (Details)	Dec. 31, 2020	Dec. 31, 2019
Income Taxes [Abstract]
Statutory income tax rate	26.00%	26.00%
Change in tax rates and new legislation	12.00%	(2.00%)
International operations subject to different tax rates	52.00%	(7.00%)
Taxable income attributable to non-controlling interests	(31.00%)	(4.00%)
Portion of gains subject to different tax rates	(10.00%)	(1.00%)
Recognition of deferred tax assets	(10.00%)	(9.00%)
Non-recognition of the benefit of current year’s tax losses	8.00%	4.00%
Other	7.00%	1.00%
Effective income tax rate	54.00%	8.00%

INCOME TAXES - Schedule Of Defe

INCOME TAXES - Schedule Of Deferred Income Tax Assets And Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net deferred tax liabilities	$ 12,575	$ 11,277
Total net deferred tax liabilities	(12,575)	(11,277)
Non-capital losses [Member] \| Canada
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net deferred tax liabilities	(916)	(848)
Total net deferred tax liabilities	916	848
Capital losses [Member] \| Canada
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net deferred tax liabilities	(48)	(80)
Total net deferred tax liabilities	48	80
Unused tax losses [member] \| UNITED STATES
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net deferred tax liabilities	(3,338)	(3,102)
Total net deferred tax liabilities	3,338	3,102
Unused tax losses [member] \| International
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net deferred tax liabilities	(1,415)	(705)
Total net deferred tax liabilities	1,415	705
Temporary differences [member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net deferred tax liabilities	18,292	16,012
Total net deferred tax liabilities	$ (18,292)	$ (16,012)

INCOME TAXES - Schedule Of Unre

INCOME TAXES - Schedule Of Unrecognized Deferred Tax Assets (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unrecognized deferred tax assets	$ 1,982	$ 2,836
One year from reporting date
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unrecognized deferred tax assets	4	22
Two years from reporting date
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unrecognized deferred tax assets	20	9
Three years from reporting date
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unrecognized deferred tax assets	20	14
After three years from reporting date
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unrecognized deferred tax assets	465	1,159
Do not expire
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unrecognized deferred tax assets	$ 1,473	$ 1,632

INCOME TAXES - Schedule Of Comp

INCOME TAXES - Schedule Of Components Of Income Taxes In Other Comprehensive Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Taxes [Abstract]
Revaluation of property, plant and equipment	$ 1,214	$ 623
Financial contracts and power sale agreements	(59)	6
Income tax relating to marketable securities measured at fair value through other comprehensive income	74	88
Foreign currency translation	37	(8)
Revaluation of pension obligation	(40)	(6)
Total deferred tax in other comprehensive income	$ 1,226	$ 703

CORPORATE BORROWINGS - Schedule

CORPORATE BORROWINGS - Schedule of Corporate Borrowings (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about borrowings [line items]
Book value of borrowings	$ 9,147	$ 7,128
Deferred financing costs	(70)	(45)
Total	9,077	7,083
Book value of borrowings	9,147	7,128
Deferred financing costs	$ (70)	(45)
Canadian Term Debt Maturing On March 1, 2021 [Member] [Member]
Disclosure of detailed information about borrowings [line items]
Annual Rate	5.30%
Book value of borrowings	$ 0	269
Annual Rate	5.30%
Book value of borrowings	$ 0	269
Canadian Term Debt Maturing On March 31, 2023 [Member] [Member]
Disclosure of detailed information about borrowings [line items]
Annual Rate	4.54%
Book value of borrowings	$ 472	463
Annual Rate	4.54%
Book value of borrowings	$ 472	463
Canadian Term Debt Maturing On March 8, 2024 [Member] [Member]
Disclosure of detailed information about borrowings [line items]
Annual Rate	5.04%
Book value of borrowings	$ 393	385
Annual Rate	5.04%
Book value of borrowings	$ 393	385
U.S. Term Debt Maturing On April 01, 2024 [Member] [Member]
Disclosure of detailed information about borrowings [line items]
Annual Rate	4.00%
Book value of borrowings	$ 749	749
Annual Rate	4.00%
Book value of borrowings	$ 749	749
U.S. Term Debt Maturing On January 15, 2025 [Member] [Member]
Disclosure of detailed information about borrowings [line items]
Annual Rate	4.00%
Book value of borrowings	$ 500	500
Annual Rate	4.00%
Book value of borrowings	$ 500	500
Canadian Term Debt Maturing On January 28, 2026 [Member] [Member]
Disclosure of detailed information about borrowings [line items]
Annual Rate	4.82%
Book value of borrowings	$ 675	664
Annual Rate	4.82%
Book value of borrowings	$ 675	664
U.S. Term Debt Maturing On June 2, 2026 [Member] [Member]
Disclosure of detailed information about borrowings [line items]
Annual Rate	4.25%
Book value of borrowings	$ 497	497
Annual Rate	4.25%
Book value of borrowings	$ 497	497
Canadian Term Debt Maturing On March 16, 2027 [Member] [Member]
Disclosure of detailed information about borrowings [line items]
Annual Rate	3.80%
Book value of borrowings	$ 393	385
Annual Rate	3.80%
Book value of borrowings	$ 393	385
Canadian Term Debt Maturing On January 25, 2028 [Member]
Disclosure of detailed information about borrowings [line items]
Annual Rate	3.90%
Book value of borrowings	$ 649	649
Annual Rate	3.90%
Book value of borrowings	$ 649	649
U.S. Term Debt Maturing On March 29, 2029 [Member] [Member]
Disclosure of detailed information about borrowings [line items]
Annual Rate	4.85%
Book value of borrowings	$ 999	998
Annual Rate	4.85%
Book value of borrowings	$ 999	998
U.S. Term Debt Maturing On March 1, 2033 [Member] [Member]
Disclosure of detailed information about borrowings [line items]
Annual Rate	7.38%
Book value of borrowings	$ 250	250
Annual Rate	7.38%
Book value of borrowings	$ 250	250
Canadian Term Debt Maturing On June 14, 2035 [Member] [Member]
Disclosure of detailed information about borrowings [line items]
Annual Rate	5.95%
Book value of borrowings	$ 331	325
Annual Rate	5.95%
Book value of borrowings	$ 331	325
JPY Term Debt Maturing On December 1, 2038 [Member]
Disclosure of detailed information about borrowings [line items]
Annual Rate	1.42%
Book value of borrowings	$ 97	92
Annual Rate	1.42%
Book value of borrowings	$ 97	92
Mar. 1, 2033
Disclosure of detailed information about borrowings [line items]
Annual Rate	4.70%
Book value of borrowings	$ 902	902
Annual Rate	4.70%
Book value of borrowings	$ 902	902
U.S. Term Debt Maturing On April 15, 2030
Disclosure of detailed information about borrowings [line items]
Annual Rate	4.35%
Book value of borrowings	$ 749	0
Annual Rate	4.35%
Book value of borrowings	$ 749	0
U.S. Term Debt Maturing On April 15, 2050
Disclosure of detailed information about borrowings [line items]
Annual Rate	3.45%
Book value of borrowings	$ 594	0
Annual Rate	3.45%
Book value of borrowings	$ 594	0
U.S. Term Debt Maturing On March 30, 2051
Disclosure of detailed information about borrowings [line items]
Annual Rate	3.50%
Book value of borrowings	$ 497	0
Annual Rate	3.50%
Book value of borrowings	$ 497	0
U.S. Term Debt Maturing On October 16, 2080
Disclosure of detailed information about borrowings [line items]
Annual Rate	4.63%
Book value of borrowings	$ 400	0
Annual Rate	4.63%
Book value of borrowings	$ 400	$ 0

CORPORATE BORROWINGS - Narrativ

CORPORATE BORROWINGS - Narrative (Details) $ in Millions, $ in Millions, ¥ in Billions	Dec. 31, 2020USD ($)	Dec. 31, 2020CAD ($)	Dec. 31, 2020JPY (¥)	Dec. 31, 2019USD ($)	Dec. 31, 2019CAD ($)	Dec. 31, 2019JPY (¥)
Disclosure of detailed information about borrowings [line items]
Corporate borrowings	$ 9,077			$ 7,083
Fixed rate \| Weighted average
Disclosure of detailed information about borrowings [line items]
Annual Rate	4.40%	4.40%	4.40%	4.60%	4.60%	4.60%
U.S. dollars \| Japanese yen
Disclosure of detailed information about borrowings [line items]
Corporate borrowings		$ 97			$ 92
U.S. dollars \| Canadian dollars
Disclosure of detailed information about borrowings [line items]
Corporate borrowings	$ 2,300			$ 2,500
Canadian dollars \| Canadian dollars
Disclosure of detailed information about borrowings [line items]
Corporate borrowings		$ 2,900			$ 3,200
Japanese yen \| Japanese yen
Disclosure of detailed information about borrowings [line items]
Corporate borrowings \| ¥			¥ 10			¥ 10

ACCOUNTS PAYABLE AND OTHER - Sc

ACCOUNTS PAYABLE AND OTHER - Schedule of Accounts Payable and Other Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Subclassifications of assets, liabilities and equities [abstract]
Accounts payable	$ 9,543		$ 9,583
Provisions	5,065		4,104
Insurance contracts that are liabilities	8,223		5,494
Other liabilities	27,851		23,896
Accounts payable and other	$ 50,682	$ 50,682	$ 43,077

ACCOUNTS PAYABLE AND OTHER - _2

ACCOUNTS PAYABLE AND OTHER - Schedule of Current and Non-Current Accounts Payables (Details) - USD ($) $ in Millions	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Subclassifications of assets, liabilities and equities [abstract]
Non-current	$ 24,825		$ 19,865
Accounts payable and other	50,682	$ 50,682	43,077
Current portion of accounts payable and other	$ 25,857		$ 23,212

ACCOUNTS PAYABLE AND OTHER - Na

ACCOUNTS PAYABLE AND OTHER - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019USD ($)
Subclassifications of assets, liabilities and equities [abstract]
Increase (decrease) in net defined benefit liability (asset)		$ 149
Actuarial assumption of discount rates	2.00%	3.00%
Percentage increase in rate of compensation	1.00%	2.00%
Actuarial assumption of expected rates of investment	0.03	0.06

ACCOUNTS PAYABLE AND OTHER - _3

ACCOUNTS PAYABLE AND OTHER - Schedule of Post-Employment Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Subclassifications of assets, liabilities and equities [abstract]
Plan assets	$ 3,335	$ 3,029
Less accrued benefit obligation:
Defined benefit pension plan	4,613	3,995
Other post-employment benefits	(185)	(173)
Net defined benefit liability, before net actuarial gain (losses)	1,463	1,139
Less: net actuarial gains and other	11	13
Accrued benefit liability related to defined benefit plan	$ (1,452)	$ (1,126)

NON-RECOURSE BORROWINGS - Sched

NON-RECOURSE BORROWINGS - Schedule of Repayments of Property Specific Mortgages (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	$ 128,556	$ 127,869
Deferred Financing Costs and Other on Secured bank loans	(1,105)
Property-specific borrowings	128,556	127,869
Deferred Financing Costs and Other on Secured bank loans	(1,105)
Real Estate
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	67,073	67,909
Deferred Financing Costs and Other on Secured bank loans	(404)
Property-specific borrowings	67,073	67,909
Deferred Financing Costs and Other on Secured bank loans	(404)
Renewable Power
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	16,353	15,787
Deferred Financing Costs and Other on Secured bank loans	(57)
Property-specific borrowings	16,353	15,787
Deferred Financing Costs and Other on Secured bank loans	(57)
Infrastructure
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	21,309	20,776
Deferred Financing Costs and Other on Secured bank loans	(161)
Property-specific borrowings	21,309	20,776
Deferred Financing Costs and Other on Secured bank loans	(161)
Private Equity
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	23,333	23,105
Deferred Financing Costs and Other on Secured bank loans	(479)
Property-specific borrowings	23,333	23,105
Deferred Financing Costs and Other on Secured bank loans	(479)
Residential Development
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	488	292
Deferred Financing Costs and Other on Secured bank loans	(4)
Property-specific borrowings	488	$ 292
Deferred Financing Costs and Other on Secured bank loans	(4)
One year from reporting date
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	20,970
Property-specific borrowings	20,970
One year from reporting date \| Real Estate
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	16,583
Property-specific borrowings	16,583
One year from reporting date \| Renewable Power
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	1,194
Property-specific borrowings	1,194
One year from reporting date \| Infrastructure
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	1,595
Property-specific borrowings	1,595
One year from reporting date \| Private Equity
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	1,531
Property-specific borrowings	1,531
One year from reporting date \| Residential Development
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	67
Property-specific borrowings	67
Two years from reporting date
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	14,076
Property-specific borrowings	14,076
Two years from reporting date \| Real Estate
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	10,654
Property-specific borrowings	10,654
Two years from reporting date \| Renewable Power
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	1,190
Property-specific borrowings	1,190
Two years from reporting date \| Infrastructure
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	894
Property-specific borrowings	894
Two years from reporting date \| Private Equity
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	1,313
Property-specific borrowings	1,313
Two years from reporting date \| Residential Development
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	25
Property-specific borrowings	25
2021
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	14,915
Property-specific borrowings	14,915
2021 \| Real Estate
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	7,848
Property-specific borrowings	7,848
2021 \| Renewable Power
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	2,063
Property-specific borrowings	2,063
2021 \| Infrastructure
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	2,782
Property-specific borrowings	2,782
2021 \| Private Equity
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	2,152
Property-specific borrowings	2,152
2021 \| Residential Development
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	70
Property-specific borrowings	70
2022
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	17,124
Property-specific borrowings	17,124
2022 \| Real Estate
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	11,279
Property-specific borrowings	11,279
2022 \| Renewable Power
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	886
Property-specific borrowings	886
2022 \| Infrastructure
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	2,583
Property-specific borrowings	2,583
2022 \| Private Equity
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	2,051
Property-specific borrowings	2,051
2022 \| Residential Development
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	325
Property-specific borrowings	325
2023
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	18,148
Property-specific borrowings	18,148
2023 \| Real Estate
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	8,588
Property-specific borrowings	8,588
2023 \| Renewable Power
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	1,179
Property-specific borrowings	1,179
2023 \| Infrastructure
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	3,629
Property-specific borrowings	3,629
2023 \| Private Equity
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	4,747
Property-specific borrowings	4,747
2023 \| Residential Development
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	5
Property-specific borrowings	5
Thereafter
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	44,428
Total Principal repayments on Secured bank loans	129,661
Property-specific borrowings	44,428
Total Principal repayments on Secured bank loans	129,661
Thereafter \| Real Estate
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	12,525
Total Principal repayments on Secured bank loans	67,477
Property-specific borrowings	12,525
Total Principal repayments on Secured bank loans	67,477
Thereafter \| Renewable Power
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	9,898
Total Principal repayments on Secured bank loans	16,410
Property-specific borrowings	9,898
Total Principal repayments on Secured bank loans	16,410
Thereafter \| Infrastructure
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	9,987
Total Principal repayments on Secured bank loans	21,470
Property-specific borrowings	9,987
Total Principal repayments on Secured bank loans	21,470
Thereafter \| Private Equity
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	12,018
Total Principal repayments on Secured bank loans	23,812
Property-specific borrowings	12,018
Total Principal repayments on Secured bank loans	23,812
Thereafter \| Residential Development
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	0
Total Principal repayments on Secured bank loans	492
Property-specific borrowings	0
Total Principal repayments on Secured bank loans	$ 492

NON-RECOURSE BORROWINGS - Narra

NON-RECOURSE BORROWINGS - Narrative (Details) - Weighted average	Dec. 31, 2020	Dec. 31, 2019
Property-specific borrowings
Disclosure of detailed information about borrowings [line items]
Annual Rate	4.20%	4.70%
Subsidiary borrowings
Disclosure of detailed information about borrowings [line items]
Annual Rate	3.50%	4.30%

NON-RECOURSE BORROWINGS - Sch_2

NON-RECOURSE BORROWINGS - Schedule of Current and Non-current property specific mortgages (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Disclosure of financial liabilities [abstract]
Current	$ 20,970	$ 15,696
Non-current	107,586	112,173
Total	$ 128,556	$ 127,869

NON-RECOURSE BORROWINGS - Sch_3

NON-RECOURSE BORROWINGS - Schedule of Borrowings By Currency (Details) € in Millions, ₩ in Millions, ₨ in Millions, £ in Millions, R$ in Millions, $ in Millions, $ in Millions, $ in Millions, $ in Millions,
in Millions

Dec. 31, 2020USD ($)

Dec. 31, 2020GBP (£)

Dec. 31, 2020INR (₨)

Dec. 31, 2020CAD ($)

Dec. 31, 2020EUR (€)

Dec. 31, 2020AUD ($)

Dec. 31, 2020BRL (R$)

Dec. 31, 2020COP ($)

Dec. 31, 2020KRW (₩)

Dec. 31, 2020CLF (
)

Dec. 31, 2019USD ($)

Dec. 31, 2019GBP (£)

Dec. 31, 2019INR (₨)

Dec. 31, 2019CAD ($)

Dec. 31, 2019EUR (€)

Dec. 31, 2019AUD ($)

Dec. 31, 2019BRL (R$)

Dec. 31, 2019COP ($)

Dec. 31, 2019KRW (₩)

Dec. 31, 2019CLF (
)

Disclosure of detailed information about borrowings [line items]

Property-specific borrowings

$ 128,556

$ 127,869

U.S. dollars

Disclosure of detailed information about borrowings [line items]

Property-specific borrowings

78,223

84,203

British pounds

Disclosure of detailed information about borrowings [line items]

Property-specific borrowings

10,341

£ 7,565

9,812

£ 7,401

Canadian dollars

Disclosure of detailed information about borrowings [line items]

Property-specific borrowings

8,458

$ 10,771

7,955

$ 10,333

Australian dollars

Disclosure of detailed information about borrowings [line items]

Property-specific borrowings

4,799

$ 6,237

4,815

$ 6,861

Brazilian reais

Disclosure of detailed information about borrowings [line items]

Property-specific borrowings

3,487

R$ 18147

3,969

R$ 15998

Korean won

Disclosure of detailed information about borrowings [line items]

Property-specific borrowings

2,082

₩ 2,268,301

1,959

₩ 2,264,478

Colombian pesos

Disclosure of detailed information about borrowings [line items]

Property-specific borrowings

2,141

$ 7,332,845

2,029

$ 6,671,818

Indian rupees

Disclosure of detailed information about borrowings [line items]

Property-specific borrowings

8,978

₨ 655,328

4,143

₨ 295,106

Chilean unidades de fomento

Disclosure of detailed information about borrowings [line items]

Property-specific borrowings

1,187

1,099

Other [Member]

Disclosure of detailed information about borrowings [line items]

Property-specific borrowings

1,044

1,041

European Union euros

Disclosure of detailed information about borrowings [line items]

Property-specific borrowings

$ 7,816

€ 6,398

$ 6,844

€ 6,103

NON-RECOURSE BORROWINGS - Sch_4

NON-RECOURSE BORROWINGS - Schedule of Repayments on Subsidiary Borrowings (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	$ 10,768	$ 8,423
Deferred Financing Costs and Other on Subsidiary Borrowings	(31)
Subsidiary borrowings	10,768	8,423
Deferred Financing Costs and Other on Subsidiary Borrowings	(31)
Less than 1 year
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	317
Subsidiary borrowings	317
Two years from reporting date
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	38
Subsidiary borrowings	38
2021
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	620
Subsidiary borrowings	620
2022
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	3,991
Subsidiary borrowings	3,991
2023
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	1,101
Subsidiary borrowings	1,101
Thereafter
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	4,732
Total Principal repayments on Subsidiary Borrowings	10,799
Subsidiary borrowings	4,732
Total Principal repayments on Subsidiary Borrowings	10,799
Real Estate
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	3,378	2,024
Deferred Financing Costs and Other on Subsidiary Borrowings	(10)
Subsidiary borrowings	3,378	2,024
Deferred Financing Costs and Other on Subsidiary Borrowings	(10)
Real Estate \| Less than 1 year
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	314
Subsidiary borrowings	314
Real Estate \| Two years from reporting date
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	0
Subsidiary borrowings	0
Real Estate \| 2021
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	393
Subsidiary borrowings	393
Real Estate \| 2022
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	1,974
Subsidiary borrowings	1,974
Real Estate \| 2023
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	393
Subsidiary borrowings	393
Real Estate \| Thereafter
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	314
Total Principal repayments on Subsidiary Borrowings	3,388
Subsidiary borrowings	314
Total Principal repayments on Subsidiary Borrowings	3,388
Renewable Power
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	2,132	2,098
Deferred Financing Costs and Other on Subsidiary Borrowings	(11)
Subsidiary borrowings	2,132	2,098
Deferred Financing Costs and Other on Subsidiary Borrowings	(11)
Renewable Power \| Less than 1 year
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	3
Subsidiary borrowings	3
Renewable Power \| Two years from reporting date
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	0
Subsidiary borrowings	0
Renewable Power \| 2021
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	0
Subsidiary borrowings	0
Renewable Power \| 2022
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	0
Subsidiary borrowings	0
Renewable Power \| 2023
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	314
Subsidiary borrowings	314
Renewable Power \| Thereafter
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	1,826
Total Principal repayments on Subsidiary Borrowings	2,143
Subsidiary borrowings	1,826
Total Principal repayments on Subsidiary Borrowings	2,143
Infrastructure
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	3,158	2,470
Deferred Financing Costs and Other on Subsidiary Borrowings	(15)
Subsidiary borrowings	3,158	2,470
Deferred Financing Costs and Other on Subsidiary Borrowings	(15)
Infrastructure \| Less than 1 year
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	0
Subsidiary borrowings	0
Infrastructure \| Two years from reporting date
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	0
Subsidiary borrowings	0
Infrastructure \| 2021
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	0
Subsidiary borrowings	0
Infrastructure \| 2022
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	1,681
Subsidiary borrowings	1,681
Infrastructure \| 2023
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	0
Subsidiary borrowings	0
Infrastructure \| Thereafter
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	1,492
Total Principal repayments on Subsidiary Borrowings	3,173
Subsidiary borrowings	1,492
Total Principal repayments on Subsidiary Borrowings	3,173
Private Equity
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	310	0
Deferred Financing Costs and Other on Subsidiary Borrowings	0
Subsidiary borrowings	310	0
Deferred Financing Costs and Other on Subsidiary Borrowings	0
Private Equity \| Less than 1 year
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	0
Subsidiary borrowings	0
Private Equity \| Two years from reporting date
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	0
Subsidiary borrowings	0
Private Equity \| 2021
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	0
Subsidiary borrowings	0
Private Equity \| 2022
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	310
Subsidiary borrowings	310
Private Equity \| 2023
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	0
Subsidiary borrowings	0
Private Equity \| Thereafter
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	0
Total Principal repayments on Subsidiary Borrowings	310
Subsidiary borrowings	0
Total Principal repayments on Subsidiary Borrowings	310
Residential Development
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	1,790	1,831
Deferred Financing Costs and Other on Subsidiary Borrowings	5
Subsidiary borrowings	1,790	$ 1,831
Deferred Financing Costs and Other on Subsidiary Borrowings	5
Residential Development \| Less than 1 year
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	0
Subsidiary borrowings	0
Residential Development \| Two years from reporting date
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	38
Subsidiary borrowings	38
Residential Development \| 2021
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	227
Subsidiary borrowings	227
Residential Development \| 2022
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	26
Subsidiary borrowings	26
Residential Development \| 2023
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	394
Subsidiary borrowings	394
Residential Development \| Thereafter
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	1,100
Total Principal repayments on Subsidiary Borrowings	1,785
Subsidiary borrowings	1,100
Total Principal repayments on Subsidiary Borrowings	$ 1,785

NON-RECOURSE BORROWINGS - Sch_5

NON-RECOURSE BORROWINGS - Schedule of Current and Non-current Subsidiary Borrowings (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	$ 10,768	$ 8,423
Current [member]
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	317	17
Non-Current [Member]
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	$ 10,451	$ 8,406

NON-RECOURSE BORROWINGS - Sch_6

NON-RECOURSE BORROWINGS - Schedule of Subsidiary Borrowings By Currency (Details) R$ in Millions, $ in Millions, $ in Millions	Dec. 31, 2020USD ($)	Dec. 31, 2020CAD ($)	Dec. 31, 2020BRL (R$)	Dec. 31, 2019USD ($)	Dec. 31, 2019CAD ($)	Dec. 31, 2019BRL (R$)
Disclosure of detailed information about borrowings [line items]
Subsidiary Borrowings	$ 10,768			$ 8,423
Subsidiary borrowings	10,768			8,423
U.S. dollars
Disclosure of detailed information about borrowings [line items]
Subsidiary Borrowings	4,376			5,162
Subsidiary borrowings	4,376			5,162
Canadian dollars
Disclosure of detailed information about borrowings [line items]
Subsidiary Borrowings	6,254	$ 7,963		3,078	$ 3,998
Subsidiary borrowings	6,254	$ 7,963		3,078	$ 3,998
Brazil, Brazil Real
Disclosure of detailed information about borrowings [line items]
Subsidiary Borrowings	138		R$ 715	183		R$ 737
Subsidiary borrowings	$ 138		R$ 715	$ 183		R$ 737

NON-RECOURSE BORROWINGS - Sch_7

NON-RECOURSE BORROWINGS - Schedule of Non-recourse borrowings (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about borrowings [line items]
Subsidiary Borrowings	$ 10,768	$ 8,423
Property-specific borrowings	128,556	127,869
Non-recourse borrowings of managed entities	$ 139,324	$ 136,292

SUBSIDIARY EQUITY OBLIGATIONS -

SUBSIDIARY EQUITY OBLIGATIONS - Schedule of Subsidiary Equity Obligations (Details) $ in Millions, $ in Millions	Dec. 31, 2020USD ($)shares	Dec. 31, 2020CAD ($)shares	Dec. 31, 2019USD ($)	Dec. 31, 2019CAD ($)
Disclosure of financial liabilities [line items]
Subsidiary preferred equity units	$ 1,679		$ 1,650
Limited-life funds and redeemable fund units	1,456		1,896
Total	3,699		4,132
Preferred equity held by third party investor in Rouse Properties L.P.
Disclosure of financial liabilities [line items]
Subsidiary preferred shares and capital	$ 142		142
Series 1
Disclosure of financial liabilities [line items]
Issued and Outstanding (in shares) \| shares	24,000,000	24,000,000
Cumulative Dividend Rate	6.25%	6.25%
Subsidiary preferred equity units	$ 586		574
Series 2
Disclosure of financial liabilities [line items]
Issued and Outstanding (in shares) \| shares	24,000,000	24,000,000
Cumulative Dividend Rate	6.50%	6.50%
Subsidiary preferred equity units	$ 555		546
Series 3
Disclosure of financial liabilities [line items]
Issued and Outstanding (in shares) \| shares	24,000,000	24,000,000
Cumulative Dividend Rate	6.75%	6.75%
Subsidiary preferred equity units	$ 538		530
Real Estate
Disclosure of financial liabilities [line items]
Limited-life funds and redeemable fund units	864		921
Subsidiary preferred shares and capital	$ 564		586
Real Estate \| BSREP II RH B LLC (“Manufactured Housing”) preferred capital
Disclosure of financial liabilities [line items]
Issued and Outstanding (in shares) \| shares
Cumulative Dividend Rate	9.00%	9.00%
Subsidiary preferred shares and capital	$ 249		249
Real Estate \| Preferred equity held by third party investor in Rouse Properties L.P.
Disclosure of financial liabilities [line items]
Issued and Outstanding (in shares) \| shares	5,600,000	5,600,000
Cumulative Dividend Rate	5.00%	5.00%
Subsidiary preferred shares and capital	$ 142		142
Real Estate \| Preferred equity held by third party investor in Forest City Enterprises L.P. [Member]
Disclosure of financial liabilities [line items]
Subsidiary preferred shares and capital	$ 0		10
Real Estate \| Preferred equity held by third party investor in BSREP II Vintage Estate Partners LLC
Disclosure of financial liabilities [line items]
Issued and Outstanding (in shares) \| shares	10,000	10,000
Cumulative Dividend Rate	5.00%	5.00%
Subsidiary preferred shares and capital	$ 40		40
Real Estate \| Series 1 \| Brookfield Property Split Corp (“BOP Split”) senior preferred shares
Disclosure of financial liabilities [line items]
Issued and Outstanding (in shares) \| shares	842,534	842,534
Cumulative Dividend Rate	5.25%	5.25%
Subsidiary preferred shares and capital	$ 21		$ 23
Real Estate \| Series 2 \| Brookfield Property Split Corp (“BOP Split”) senior preferred shares
Disclosure of financial liabilities [line items]
Issued and Outstanding (in shares) \| shares	556,746	556,746
Cumulative Dividend Rate	5.75%	5.75%
Subsidiary preferred shares and capital		$ 11		$ 13
Real Estate \| Series 3 \| Brookfield Property Split Corp (“BOP Split”) senior preferred shares
Disclosure of financial liabilities [line items]
Issued and Outstanding (in shares) \| shares	789,718	789,718
Cumulative Dividend Rate	5.00%	5.00%
Subsidiary preferred shares and capital		$ 16		18
Real Estate \| Series 4 \| Brookfield Property Split Corp (“BOP Split”) senior preferred shares
Disclosure of financial liabilities [line items]
Issued and Outstanding (in shares) \| shares	594,994	594,994
Cumulative Dividend Rate	5.20%	5.20%
Subsidiary preferred shares and capital		$ 12		$ 18

SUBSIDIARY EQUITY OBLIGATIONS_2

SUBSIDIARY EQUITY OBLIGATIONS - Narrative (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)$ / shares	Dec. 31, 2015USD ($)tranche	Dec. 31, 2019USD ($)$ / shares
Disclosure of subsidiaries [line items]
Subsidiary preferred equity units	$ 1,679		$ 1,650
Limited-Life Funds and Redeemable Fund Units	$ 1,456		$ 1,896
Percentage of annual return payable in monthly distributions	9.00%
Brookfield Property Partners L.P. (“BPY”)
Disclosure of subsidiaries [line items]
Subsidiary preferred equity units	$ 1,800	$ 1,800
Number of tranches \| tranche		3
Exchangeable price of BPY preferred units issued to QIA \| $ / shares	$ 25.70		$ 25.70
2021 \| Brookfield Property Partners L.P. (“BPY”)
Disclosure of subsidiaries [line items]
Subsidiary preferred equity units	$ 600	$ 600
Preferred equity held by third party investor in Manufactured Housing
Disclosure of subsidiaries [line items]
Subsidiary preferred shares and capital	249		$ 249
Preferred equity held by third party investor in Rouse Properties L.P.
Disclosure of subsidiaries [line items]
Subsidiary preferred shares and capital	142		142
Real Estate
Disclosure of subsidiaries [line items]
Limited-Life Funds and Redeemable Fund Units	864		921
Subsidiary preferred shares and capital	564		586
Real Estate \| Preferred equity held by third party investor in Rouse Properties L.P.
Disclosure of subsidiaries [line items]
Subsidiary preferred shares and capital	142		142
Real Estate \| Preferred equity held by third party investor in BSREP II Vintage Estate Partners LLC
Disclosure of subsidiaries [line items]
Subsidiary preferred shares and capital	40		40
Infrastructure
Disclosure of subsidiaries [line items]
Limited-Life Funds and Redeemable Fund Units	517		934
Corporate Activities
Disclosure of subsidiaries [line items]
Limited-Life Funds and Redeemable Fund Units	$ 75		$ 41

SUBSIDIARY EQUITY OBLIGATIONS_3

SUBSIDIARY EQUITY OBLIGATIONS - Schedule of Preferred Equity Units (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2015
Disclosure of subsidiaries [line items]
Subsidiary preferred equity units	$ 1,679	$ 1,650
Series 1
Disclosure of subsidiaries [line items]
Issued and Outstanding (in shares)	24,000,000
Cumulative Dividend Rate	6.25%
Subsidiary preferred equity units	$ 586	574
Series 2
Disclosure of subsidiaries [line items]
Issued and Outstanding (in shares)	24,000,000
Cumulative Dividend Rate	6.50%
Subsidiary preferred equity units	$ 555	546
Series 3
Disclosure of subsidiaries [line items]
Issued and Outstanding (in shares)	24,000,000
Cumulative Dividend Rate	6.75%
Subsidiary preferred equity units	$ 538	$ 530
Brookfield Property Partners L.P. (“BPY”)
Disclosure of subsidiaries [line items]
Subsidiary preferred equity units	$ 1,800		$ 1,800

SUBSIDIARY EQUITY OBLIGATIONS_4

SUBSIDIARY EQUITY OBLIGATIONS - Schedule of Subsidiary Preferred Shares (Details) $ in Millions, $ in Millions	Dec. 31, 2020USD ($)shares	Dec. 31, 2020CAD ($)shares	Dec. 31, 2019USD ($)	Dec. 31, 2019CAD ($)
Disclosure of subsidiaries [line items]
Subsidiary preferred equity units	$ 1,679		$ 1,650
Series 1
Disclosure of subsidiaries [line items]
Issued and Outstanding (in shares) \| shares	24,000,000	24,000,000
Cumulative Dividend Rate	6.25%	6.25%
Subsidiary preferred equity units	$ 586		574
Series 2
Disclosure of subsidiaries [line items]
Issued and Outstanding (in shares) \| shares	24,000,000	24,000,000
Cumulative Dividend Rate	6.50%	6.50%
Subsidiary preferred equity units	$ 555		546
Series 3
Disclosure of subsidiaries [line items]
Issued and Outstanding (in shares) \| shares	24,000,000	24,000,000
Cumulative Dividend Rate	6.75%	6.75%
Subsidiary preferred equity units	$ 538		530
Rouse Series A preferred shares
Disclosure of subsidiaries [line items]
Subsidiary Preferred Shares	142		142
Real Estate
Disclosure of subsidiaries [line items]
Subsidiary Preferred Shares	$ 564		586
Real Estate \| Brookfield Property Split Corp (“BOP Split”) senior preferred shares \| Series 1
Disclosure of subsidiaries [line items]
Issued and Outstanding (in shares) \| shares	842,534	842,534
Cumulative Dividend Rate	5.25%	5.25%
Subsidiary Preferred Shares	$ 21		23
Real Estate \| Brookfield Property Split Corp (“BOP Split”) senior preferred shares \| Series 2
Disclosure of subsidiaries [line items]
Issued and Outstanding (in shares) \| shares	556,746	556,746
Cumulative Dividend Rate	5.75%	5.75%
Subsidiary Preferred Shares		$ 11		$ 13
Real Estate \| Brookfield Property Split Corp (“BOP Split”) senior preferred shares \| Series 3
Disclosure of subsidiaries [line items]
Issued and Outstanding (in shares) \| shares	789,718	789,718
Cumulative Dividend Rate	5.00%	5.00%
Subsidiary Preferred Shares		$ 16		18
Real Estate \| Brookfield Property Split Corp (“BOP Split”) senior preferred shares \| Series 4
Disclosure of subsidiaries [line items]
Issued and Outstanding (in shares) \| shares	594,994	594,994
Cumulative Dividend Rate	5.20%	5.20%
Subsidiary Preferred Shares		$ 12		$ 18
Real Estate \| BSREP II RH B LLC (“Manufactured Housing”) preferred capital
Disclosure of subsidiaries [line items]
Issued and Outstanding (in shares) \| shares
Cumulative Dividend Rate	9.00%	9.00%
Subsidiary Preferred Shares	$ 249		249
Real Estate \| Rouse Series A preferred shares
Disclosure of subsidiaries [line items]
Issued and Outstanding (in shares) \| shares	5,600,000	5,600,000
Cumulative Dividend Rate	5.00%	5.00%
Subsidiary Preferred Shares	$ 142		142
Real Estate \| BSREP II Vintage Estate Partners LLC (“Vintage Estates”) preferred shares
Disclosure of subsidiaries [line items]
Issued and Outstanding (in shares) \| shares	10,000	10,000
Cumulative Dividend Rate	5.00%	5.00%
Subsidiary Preferred Shares	$ 40		40
Real Estate \| Preferred equity held by third party investor in Forest City Enterprises L.P. [Member]
Disclosure of subsidiaries [line items]
Subsidiary Preferred Shares	$ 0		10
Real Estate \| Preferred equity held by third party investor in BIP Investment Corporation Series 1 Senior preferred shares
Disclosure of subsidiaries [line items]
Issued and Outstanding (in shares) \| shares	4,000,000	4,000,000
Cumulative Dividend Rate	5.85%	5.85%
Subsidiary Preferred Shares	$ 73		$ 73

SUBSIDIARY PUBLIC ISSUERS AND_3

SUBSIDIARY PUBLIC ISSUERS AND FINANCE SUBSIDIARY - Narrative (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2020CAD ($)	Nov. 24, 2020USD ($)	Oct. 16, 2020USD ($)	Sep. 28, 2020USD ($)	Apr. 14, 2020USD ($)	Apr. 09, 2020USD ($)	Feb. 21, 2020USD ($)	Dec. 31, 2019USD ($)	Jan. 17, 2018USD ($)	Sep. 14, 2017USD ($)	Mar. 10, 2017USD ($)	Jun. 02, 2016USD ($)
Disclosure of subsidiaries [line items]
Corporate borrowings	$ 9,077								$ 7,083
Issued capital	122,642								116,846
Corporate borrowings	$ 9,077								$ 7,083
BFI
Disclosure of subsidiaries [line items]
Proportion of voting rights held in subsidiary	100.00%
Proportion of voting rights held in subsidiary	100.00%
BFL
Disclosure of subsidiaries [line items]
Proportion of voting rights held in subsidiary	100.00%
Proportion of voting rights held in subsidiary	100.00%
Unsecured Notes Due 2026 \| BFI
Disclosure of subsidiaries [line items]
Corporate borrowings													$ 500
Annual Rate													4.25%
Corporate borrowings													$ 500
Annual Rate													4.25%
Unsecured Notes Due 2047 [Member] \| BFI
Disclosure of subsidiaries [line items]
Corporate borrowings										$ 350	$ 550
Annual Rate											4.70%
Corporate borrowings										350	$ 550
Annual Rate											4.70%
Unsecured Notes Due 2028 [Member] \| BFI
Disclosure of subsidiaries [line items]
Corporate borrowings										$ 650
Annual Rate										3.90%
Corporate borrowings										$ 650
Annual Rate										3.90%
Unsecured Notes Due 2029 [Member] \| BFI
Disclosure of subsidiaries [line items]
Corporate borrowings										$ 1,000
Annual Rate										4.85%
Corporate borrowings										$ 1,000
Annual Rate										4.85%
Unsecured Notes Due 2030 [Domain] \| BFI
Disclosure of subsidiaries [line items]
Corporate borrowings						$ 150	$ 600
Annual Rate						4.35%	4.35%
Corporate borrowings						$ 150	$ 600
Annual Rate						4.35%	4.35%
Unsecured Notes Due 2024 \| BFL
Disclosure of subsidiaries [line items]
Corporate borrowings												$ 750
Annual Rate												4.00%
Corporate borrowings												$ 750
Annual Rate												4.00%
Unsecured Notes Due 2050 [Member] \| BFL
Disclosure of subsidiaries [line items]
Corporate borrowings								$ 600
Annual Rate								3.45%
Corporate borrowings								$ 600
Annual Rate								3.45%
Unsecured Notes Due 2051 [Member] \| BFI
Disclosure of subsidiaries [line items]
Corporate borrowings				$ 400	$ 500
Annual Rate				4.625%	3.50%
Corporate borrowings				$ 400	$ 500
Annual Rate				4.625%	3.50%
Perpetual Preferred Shares [Member] \| Brookfield Finance I (UK) PLC
Disclosure of subsidiaries [line items]
Corporate borrowings			$ 230
Annual Rate			4.50%
Corporate borrowings			$ 230
Annual Rate			4.50%
Preferred shares \| BIC
Disclosure of subsidiaries [line items]
Issued capital		$ 37

SUBSIDIARY PUBLIC ISSUERS AND_4

SUBSIDIARY PUBLIC ISSUERS AND FINANCE SUBSIDIARY - Schedule Of Summarized Financial Information And Non-Guarantor Subsidiaries (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of subsidiaries [line items]
Revenue	$ 62,752	$ 67,826
Net income attributable to shareholders	(134)	2,807
Total assets	343,696	323,969
Total liabilities	221,054	207,123
Non-controlling interest - preferred equity	230
Revenue	62,752	67,826
Shareholders	(134)	2,807
Assets	343,696	323,969
Total liabilities	221,054	207,123
The Corporation
Disclosure of subsidiaries [line items]
Revenue	626	104
Net income attributable to shareholders	(134)	2,807
Total assets	73,898	70,976
Total liabilities	38,060	35,963
Revenue	626	104
Shareholders	(134)	2,807
Assets	73,898	70,976
Total liabilities	38,060	35,963
BFI
Disclosure of subsidiaries [line items]
Revenue	280	148
Net income attributable to shareholders	73	40
Total assets	7,207	5,389
Total liabilities	5,547	3,994
Revenue	280	148
Shareholders	73	40
Assets	7,207	5,389
Total liabilities	5,547	3,994
BFL
Disclosure of subsidiaries [line items]
Revenue	28	0
Net income attributable to shareholders	0	0
Total assets	600	0
Total liabilities	596	0
Revenue	28	0
Shareholders	0	0
Assets	600	0
Total liabilities	596	0
BIC
Disclosure of subsidiaries [line items]
Revenue	163	105
Net income attributable to shareholders	91	85
Total assets	4,280	3,520
Total liabilities	2,690	2,239
Revenue	163	105
Shareholders	91	85
Assets	4,280	3,520
Total liabilities	2,690	2,239
Subsidiaries of the Corporation other than BFI, BFL and BIC
Disclosure of subsidiaries [line items]
Revenue	70,385	73,310
Net income attributable to shareholders	6,368	3,493
Total assets	350,687	331,698
Total liabilities	206,877	195,586
Revenue	70,385	73,310
Shareholders	6,368	3,493
Assets	350,687	331,698
Total liabilities	206,877	195,586
Brookfield Finance I (UK) PLC
Disclosure of subsidiaries [line items]
Revenue	2	0
Net income attributable to shareholders	1	0
Total assets	233	0
Total liabilities	3	0
Non-controlling interest - preferred equity	230
Revenue	2	0
Shareholders	1	0
Assets	233	0
Total liabilities	3	0
Brookfield Finance Inc II
Disclosure of subsidiaries [line items]
Revenue	0	0
Net income attributable to shareholders	0	0
Total assets	0	0
Total liabilities	0	0
Revenue	0	0
Shareholders	0	0
Assets	0	0
Total liabilities	0	0
Brookfield Finance LLC II
Disclosure of subsidiaries [line items]
Revenue	0	0
Net income attributable to shareholders	0	0
Total assets	0	0
Total liabilities	0	0
Revenue	0	0
Shareholders	0	0
Assets	0	0
Total liabilities	0	0
Brookfield Finance Australia
Disclosure of subsidiaries [line items]
Revenue	0	0
Net income attributable to shareholders	0	0
Total assets	0	0
Total liabilities	0	0
Revenue	0	0
Shareholders	0	0
Assets	0	0
Total liabilities	0	0
Material reconciling items [member]
Disclosure of subsidiaries [line items]
Revenue	(8,732)	(5,841)
Net income attributable to shareholders	(6,533)	(3,618)
Total assets	(93,209)	(87,614)
Total liabilities	(32,719)	(30,659)
Revenue	(8,732)	(5,841)
Shareholders	(6,533)	(3,618)
Assets	(93,209)	(87,614)
Total liabilities	$ (32,719)	$ (30,659)

EQUITY - Schedule Of Equity (De

EQUITY - Schedule Of Equity (Details) - USD ($) $ in Millions	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of classes of share capital [line items]
Number of Class A Common Shares Held by the Company for Long-term Compensation Agreements	64,197,815	63,417,346	63,417,346	56,307,796
Total Equity	$ 122,642		$ 116,846
Common equity \| Common shares
Disclosure of classes of share capital [line items]
Total Equity	31,693		30,868
Preferred equity \| Preferred shares
Disclosure of classes of share capital [line items]
Total Equity	4,145		4,145
Non-controlling interests
Disclosure of classes of share capital [line items]
Total Equity	86,804		81,833
Non-controlling interests \| Preferred shares
Disclosure of classes of share capital [line items]
Total Equity	5,889		5,276
Non-controlling interests \| Common shares
Disclosure of classes of share capital [line items]
Total Equity	$ 80,915		$ 76,557

EQUITY - Schedule Of Preferred

EQUITY - Schedule Of Preferred Equity (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Disclosure of classes of share capital [line items]
Equity	$ 122,642	$ 116,846
Weighted average \| Preferred shares
Disclosure of classes of share capital [line items]
Average Rate	3.91%	4.20%
Floating rate \| Series 4 Class A Preferred Shares
Disclosure of classes of share capital [line items]
Average Rate	70.00%
Floating rate \| Preferred shares \| Series 4 Class A Preferred Shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	2,795,910	2,795,910
Floating rate \| Weighted average \| Preferred shares
Disclosure of classes of share capital [line items]
Average Rate	1.76%	2.91%
Fixed rate \| Weighted average \| Preferred shares
Disclosure of classes of share capital [line items]
Average Rate	4.82%	4.82%
Fixed and floating rate [Member] \| Weighted average \| Preferred shares
Disclosure of classes of share capital [line items]
Average Rate	3.54%	4.02%
Fixed rate-reset preferred shares \| Weighted average \| Preferred shares
Disclosure of classes of share capital [line items]
Average Rate	4.07%	4.28%
Annual Dividend Yield Rate \| Series 4 Class A Preferred Shares
Disclosure of classes of share capital [line items]
Average Rate	8.50%
Preferred equity \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 4,145	$ 4,145
Preferred equity \| Floating rate \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	531	531
Preferred equity \| Floating rate \| Preferred shares \| Series 4 Class A Preferred Shares
Disclosure of classes of share capital [line items]
Equity	45	45
Preferred equity \| Fixed rate \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	739	739
Preferred equity \| Fixed and floating rate [Member] \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	1,270	1,270
Preferred equity \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 2,875	$ 2,875

EQUITY - Schedule Of Series Of

EQUITY - Schedule Of Series Of Preferred Shares (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of classes of share capital [line items]
Equity	$ 122,642	$ 116,846
Fixed rate-reset preferred shares \| Canada Bond Rate \| Preferred shares
Disclosure of classes of share capital [line items]
Period of government bond rate	5 years
Fixed rate-reset preferred shares \| Bottom of range \| Preferred shares
Disclosure of classes of share capital [line items]
Period of fixed dividend rate	5 years
Fixed rate-reset preferred shares \| Bottom of range \| Canada Bond Rate \| Preferred shares
Disclosure of classes of share capital [line items]
Preferred stock, basis spread on variable rate	18000.00%
Fixed rate-reset preferred shares \| Top of range \| Preferred shares
Disclosure of classes of share capital [line items]
Period of fixed dividend rate	6 years
Fixed rate-reset preferred shares \| Top of range \| Canada Bond Rate \| Preferred shares
Disclosure of classes of share capital [line items]
Preferred stock, basis spread on variable rate	41700.00%
Preferred equity \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 4,145	4,145
Preferred equity \| Floating rate \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	531	531
Preferred equity \| Fixed rate \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	739	739
Preferred equity \| Fixed and floating rate [Member] \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	1,270	1,270
Preferred equity \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 2,875	$ 2,875
Series 48 Class A Preferred Shares \| Fixed rate-reset preferred shares
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	4.75%
Series 48 Class A Preferred Shares \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	11,885,972	11,885,972
Series 48 Class A Preferred Shares \| Preferred equity \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 244	$ 244
Series 46 Class A Preferred Shares \| Fixed rate-reset preferred shares
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	4.80%
Series 46 Class A Preferred Shares \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	11,740,797	11,740,797
Series 46 Class A Preferred Shares \| Preferred equity \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 217	$ 217
Series 44 Class A Preferred Shares \| Fixed rate-reset preferred shares
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	5.00%
Series 44 Class A Preferred Shares \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	9,831,929	9,831,929
Series 44 Class A Preferred Shares \| Preferred equity \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 187	$ 187
Series 42 Class A Preferred Shares \| Fixed rate-reset preferred shares
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	3.25%
Series 42 Class A Preferred Shares \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	11,887,500	11,887,500
Series 42 Class A Preferred Shares \| Preferred equity \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 266	$ 266
Series 40 Class A Preferred Shares \| Fixed rate-reset preferred shares
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	4.03%
Series 40 Class A Preferred Shares \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	11,841,025	11,841,025
Series 40 Class A Preferred Shares \| Preferred equity \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 271	$ 271
Series 38 Class A Preferred Shares \| Fixed rate-reset preferred shares
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	3.57%
Series 38 Class A Preferred Shares \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	7,906,132	7,906,132
Series 38 Class A Preferred Shares \| Preferred equity \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 179	$ 179
Series 34 Class A Preferred Shares \| Fixed rate-reset preferred shares
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	4.44%
Series 34 Class A Preferred Shares \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	9,876,735	9,876,735
Series 34 Class A Preferred Shares \| Preferred equity \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 253	$ 253
Series 32 Class A Preferred Shares \| Fixed rate-reset preferred shares
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	5.06%
Series 32 Class A Preferred Shares \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	11,750,299	11,750,299
Series 32 Class A Preferred Shares \| Preferred equity \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 297	$ 297
Series 30 Class A Preferred Shares \| Fixed rate-reset preferred shares
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	4.69%
Series 30 Class A Preferred Shares \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	9,787,090	9,787,090
Series 30 Class A Preferred Shares \| Preferred equity \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 241	$ 241
Series 28 Class A Preferred Shares \| Fixed rate-reset preferred shares
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	2.73%
Series 28 Class A Preferred Shares \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	9,233,927	9,233,927
Series 28 Class A Preferred Shares \| Preferred equity \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 232	$ 232
Series 26 Class A Preferred Shares \| Fixed rate-reset preferred shares
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	3.47%
Series 26 Class A Preferred Shares \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	9,770,928	9,770,928
Series 26 Class A Preferred Shares \| Preferred equity \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 240	$ 240
Series 24 Class A Preferred Shares \| Fixed rate-reset preferred shares
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	3.01%
Series 24 Class A Preferred Shares \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	9,278,894	9,278,894
Series 24 Class A Preferred Shares \| Preferred equity \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 227	$ 227
Series 9 Class A Preferred Shares \| Fixed rate-reset preferred shares
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	2.75%
Series 9 Class A Preferred Shares \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	1,515,981	1,515,981
Series 9 Class A Preferred Shares \| Preferred equity \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 21	$ 21
Series 37 Class A Preferred Shares \| Fixed rate
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	4.90%
Series 37 Class A Preferred Shares \| Fixed rate \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	7,830,091	7,830,091
Series 37 Class A Preferred Shares \| Preferred equity \| Fixed rate \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 193	$ 193
Series 36 Class A Preferred Shares \| Fixed rate
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	4.85%
Series 36 Class A Preferred Shares \| Fixed rate \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	7,842,909	7,842,909
Series 36 Class A Preferred Shares \| Preferred equity \| Fixed rate \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 197	$ 197
Series 25 Class A Preferred Shares \| Floating rate
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	230.00%
Series 25 Class A Preferred Shares \| Floating rate \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	1,529,133	1,529,133
Series 25 Class A Preferred Shares \| Preferred equity \| Floating rate \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 38	$ 38
Series 18 Class A Preferred Shares \| Fixed rate
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	4.75%
Series 18 Class A Preferred Shares \| Fixed rate \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	7,866,749	7,866,749
Series 18 Class A Preferred Shares \| Preferred equity \| Fixed rate \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 178	$ 178
Series 17 Class A Preferred Shares \| Floating rate
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	4000.00%
Series 17 Class A Preferred Shares \| Fixed rate
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	4.75%
Series 17 Class A Preferred Shares \| Fixed rate \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	7,840,204	7,840,204
Series 17 Class A Preferred Shares \| Preferred equity \| Fixed rate \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 171	$ 171
Series 15 Class A Preferred Shares \| Floating rate \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	2,000,000	2,000,000
Series 15 Class A Preferred Shares \| Preferred equity \| Floating rate \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 42	$ 42
Series 13 Class A Preferred Shares \| Floating rate
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	70.00%
Series 13 Class A Preferred Shares \| Floating rate \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	9,290,096	9,290,096
Series 13 Class A Preferred Shares \| Preferred equity \| Floating rate \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 195	$ 195
Series 8 Class A Preferred Shares \| Floating rate \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	2,476,185	2,476,185
Series 8 Class A Preferred Shares \| Preferred equity \| Floating rate \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 42	$ 42
Series 4 Class A Preferred Shares \| Floating rate
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	70.00%
Series 4 Class A Preferred Shares \| Floating rate \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	2,795,910	2,795,910
Series 4 Class A Preferred Shares \| Preferred equity \| Floating rate \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 45	$ 45
Series 2 Class A Preferred Shares \| Floating rate
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	70.00%
Series 2 Class A Preferred Shares \| Floating rate \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	10,457,685	10,457,685
Series 2 Class A Preferred Shares \| Preferred equity \| Floating rate \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 169	$ 169

EQUITY - Narrative (Details)

EQUITY - Narrative (Details)	12 Months Ended
EQUITY - Narrative (Details)	Dec. 31, 2020USD ($)yrshares$ / shares	Dec. 31, 2019USD ($)yrshares$ / shares	Sep. 30, 2020shares	Apr. 01, 2020yr	Dec. 31, 2019$ / shares	Dec. 31, 2018shares
Disclosure of classes of share capital [line items]
Dividends paid, ordinary shares per share \| $ / shares	$ 0.48	$ 0.43
Dividends received	$ 1,383,000,000	$ 1,300,000,000
Number of Common Shares Held by the Company \| shares	64,197,815	63,417,346	63,417,346			56,307,796
Common equity	$ (726,000,000)	$ (620,000,000)
Expense from share-based payment transactions with employees	94,000,000	87,000,000
Expense incurred with respect to MSOP	24,000,000	31,000,000
Cash included in cash and cash equivalents	$ 8,200,000,000	$ 5,700,000,000
Stock Issued During Period, Shares, Stock Splits \| yr				1.5
Preferred shares
Disclosure of classes of share capital [line items]
Par value per share (in cad per share) \| $ / shares					$ 25
Common shares
Disclosure of classes of share capital [line items]
Adjusted weighted average number of ordinary shares outstanding \| shares	1,573,696,358	1,579,311,802
Class B shares \| Common shares
Disclosure of classes of share capital [line items]
Number of shares authorised (in shares) \| shares	85,120
Equity-Settled Share-Based Payment Arrangement \| Management Share Option Plan
Disclosure of classes of share capital [line items]
Weighted average fair value at measurement date, share options granted	$ 5.54	$ 3.92
Option life, share options granted \| yr	7.5	7.5
Expected volatility, share options granted	17.00%	16.90%
Weighted average expected dividend yield, annual	1.50%	2.00%
Risk-free rate	1.40%	2.50%
Liquidity Discount	25.00%	25.00%
Equity-Settled Share-Based Payment Arrangement \| Escrowed Stock Plan
Disclosure of classes of share capital [line items]
Weighted average fair value at measurement date, share options granted	$ 5.54	$ 4.54
Number of share options granted in share-based payment arrangement \| shares	3,841,000	15,975,000
Weighted average exercise price of share options exercised in share-based payment arrangement \| $ / shares	$ 19.66	$ 15.77
Option life, share options granted \| yr	7.5	8,500,000
Expected volatility, share options granted	17.00%	17.30%
Weighted average expected dividend yield, annual	1.50%	1.80%
Risk-free rate	1.40%	2.10%
Liquidity Discount	25.00%	25.00%
Equity-Settled Share-Based Payment Arrangement \| Executives [Member] \| Escrowed Stock Plan \| Common Class A
Disclosure of classes of share capital [line items]
Number of shares purchased (in shares) \| shares	3,800,000	16,000,000
Expense from share-based payment transactions with employees	$ 35,000,000	$ 25,000,000
Equity-Settled Share-Based Payment Arrangement \| Executives [Member] \| Restricted Stock \| Common Class A
Disclosure of classes of share capital [line items]
Share based awards, vesting period	5 years
Number of instruments granted in share-based payment arrangement \| shares	1,000,000	1,200,000
Expense from share-based payment transactions with employees	$ 30,000,000	$ 25,000,000
Equity-Settled Share-Based Payment Arrangement \| Executives [Member] \| Top of range \| Management Share Option Plan \| Common Class A
Disclosure of classes of share capital [line items]
Share based awards, vesting period	5 years
Share-Based Compensation Arrangement By Share-Based Payment Award, Expiration Period1	10 years
Equity-Settled Share-Based Payment Arrangement \| Executives [Member] \| Top of range \| Escrowed Stock Plan \| Common Class A
Disclosure of classes of share capital [line items]
Share based awards, vesting period	5 years
Share-Based Compensation Arrangement By Share-Based Payment Award, Expiration Period1	10 years
Equity-Settled Share-Based Payment Arrangement \| Executive Officer \| Restricted Stock \| Common Class A
Disclosure of classes of share capital [line items]
Share based awards, hold period	5 years
Cash-Settled Share-Based Payment Arrangement \| Employees and Directors \| Deferred Stock Units and Restricted Stock Units
Disclosure of classes of share capital [line items]
Share based awards, vesting period	5 years
Share Options Vested In Share-Based Payment Arrangement	$ 1,300,000,000	1,400,000,000
Expense from share-based payment transactions with employees	5,000,000	7,000,000
Private Equity
Disclosure of classes of share capital [line items]
Dividends received	75,000,000
Private Equity \| Construction Services [Member]
Disclosure of classes of share capital [line items]
Transaction price allocated to remaining performance obligations	$ 5,600,000,000	$ 7,000,000,000
Explanation of when entity expects to recognise transaction price allocated to remaining performance obligations as revenue	two years	two years
Service concession arrangements [member] \| Private Equity \| Brazilian water and wastewater services [Member]
Disclosure of classes of share capital [line items]
Explanation of when entity expects to recognise transaction price allocated to remaining performance obligations as revenue	24 years	24 years

EQUITY - Schedule Of Non-Contro

EQUITY - Schedule Of Non-Controlling Interests (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Disclosure of classes of share capital [line items]
Equity	$ 122,642	$ 116,846
Non-controlling interests
Disclosure of classes of share capital [line items]
Equity	86,804	81,833
Non-controlling interests \| Common shares
Disclosure of classes of share capital [line items]
Equity	80,915	76,557
Non-controlling interests \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 5,889	$ 5,276

EQUITY - Schedule Of Common Equ

EQUITY - Schedule Of Common Equity (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Disclosure of classes of share capital [line items]
Equity	$ 122,642	$ 116,846
Common shares \| Common shares
Disclosure of classes of share capital [line items]
Equity	7,368	7,305
Common shares \| Contributed surplus
Disclosure of classes of share capital [line items]
Equity	285	286
Common shares \| Retained earnings
Disclosure of classes of share capital [line items]
Equity	15,178	16,026
Common shares \| Ownership changes
Disclosure of classes of share capital [line items]
Equity	2,691	1,010
Common shares \| Accumulated other comprehensive income
Disclosure of classes of share capital [line items]
Equity	6,171	6,241
Common shares \| Common equity
Disclosure of classes of share capital [line items]
Equity	$ 31,693	$ 30,868

EQUITY - Schedule Of Number Of

EQUITY - Schedule Of Number Of Issued And Outstanding Common Shares And Unexercised Options (Details) - shares	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of classes of share capital [line items]
Number of Common Shares Held by the Company	64,197,815	63,417,346	63,417,346	56,307,796
Common shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	1,510,720,411		1,509,293,641	1,432,714,261
Unexercised options and other share-based plans (in shares)	62,975,947		70,018,161
Total diluted shares (in shares)	1,573,696,358		1,579,311,802
Class A shares \| Common shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	1,510,635,291		1,509,208,521
Class B shares \| Common shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	85,120		85,120

EQUITY - Schedule Of Authorized

EQUITY - Schedule Of Authorized Share Capital (Details) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Sep. 30, 2020	Dec. 31, 2018
Issued (repurchased)
Number of Common Shares Held by the Company	64,197,815	63,417,346	63,417,346	56,307,796
Common shares
Disclosure of classes of share capital [line items]
Beginning balance (in shares)	1,509,293,641	1,432,714,261
Issued (repurchased)
Share issuance	0	79,136,155
Repurchases (in shares)	(8,932,576)	(10,782,801)
Long-term share ownership plans (in shares)	10,137,294	8,019,626
Dividend reinvestment plan and others (in shares)	222,052	206,400
Ending balance (in shares)	1,510,720,411	1,509,293,641

EQUITY - Schedule Of Basic And

EQUITY - Schedule Of Basic And Diluted Earnings Per Share (Details) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Equity [abstract]
Net income (loss)	$ (134)	$ 2,807
Dilutive effect of conversion of subsidiary preferred shares	(141)	(152)
Dilutive effect of mandatorily redeemable preferred shares issued in a consolidated subsidiary	93	(74)
Profit (loss), attributable to ordinary equity holders of parent entity	$ (182)	$ 2,581
Weighted average - common shares	1,511.4	1,452.9
Dilutive effect of the conversion of options and escrowed shares using the treasury stock method	0	35.5
Common shares and common share equivalents	1,511.4	1,488.4

EQUITY - Schedule Of Expense Re

EQUITY - Schedule Of Expense Recognized For Share-Based Compensation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Equity [abstract]
Expense arising from equity-settled share-based payment transactions	$ 89	$ 81
Expense arising from cash-settled share-based payment transactions	104	506
Total expense arising from share-based payment transactions	193	587
Effect of hedging program	(99)	(500)
Total expense included in consolidated income	$ 94	$ 87

EQUITY - Schedule Of Options (D

EQUITY - Schedule Of Options (Details) shares in Thousands	12 Months Ended
EQUITY - Schedule Of Options (Details) shares in Thousands	Dec. 31, 2020shares$ / shares	Dec. 31, 2020shares$ / shares$ / shares	Dec. 31, 2019shares$ / shares	Dec. 31, 2019shares$ / shares$ / shares	Dec. 31, 2020$ / shares	Dec. 31, 2019$ / shares	Dec. 31, 2018$ / shares	Dec. 31, 2018$ / shares
Management Share Option Plan \| Equity-Settled Share-Based Payment Arrangement
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average share price, share options granted \| $ / shares		$ 45.21		$ 30.42
Escrowed Stock Plan \| Equity-Settled Share-Based Payment Arrangement
Disclosure of terms and conditions of share-based payment arrangement [line items]
Beginning balance (in shares)	54,791	54,791	40,655	40,655
Granted (in shares)	3,841	3,841	15,975	15,975
Exercised (in shares)	(11,613)	(11,613)	(1,613)	(1,613)
Canceled (in shares), Beginning balance (in shares), Management Share Option Plan	(303)	(303)	(226)	(226)
Ending balance (in shares)	46,716	46,716	54,791	54,791
Weighted average exercise price of share options outstanding in share-based payment arrangement \| $ / shares					$ 28.88	$ 25.82		$ 22.18
Weighted average exercise price of share options exercised in share-based payment arrangement \| $ / shares		$ 19.66		$ 15.77
Weighted average share price, share options granted \| $ / shares		45.21		34.08
Weighted average exercise price of share options expired in share-based payment arrangement \| $ / shares		$ 35.85		$ 26.32
Deferred Stock Unit \| Cash-Settled Share-Based Payment Arrangement
Disclosure of terms and conditions of share-based payment arrangement [line items]
Beginning balance (in shares)	21,204	21,204	21,956	21,956
Ending balance (in shares)	18,721	18,721	21,204	21,204
Granted and reinvested (in shares)	623	623	799	799
Exercised and canceled (in shares)	(3,106)	(3,106)	(1,551)	(1,551)
Restricted Stock \| Cash-Settled Share-Based Payment Arrangement
Disclosure of terms and conditions of share-based payment arrangement [line items]
Beginning balance (in shares)	15,810	15,810	15,810	15,810
Ending balance (in shares)	13,679	13,679	15,810	15,810
Weighted average exercise price of share options outstanding in share-based payment arrangement \| $ / shares	$ 6.10	$ 6.10	$ 6.14	$ 6.14			$ 6.14
Weighted Average Exercise Price Of Share Options Granted And Reinvested (in dollars per share) \| $ / shares	0		0
Weighted Average Exercise Price Of Share Options Exercised And Cancelled (in dollars per share) \| $ / shares	$ 6.35		$ 0
Granted and reinvested (in shares)	0	0	0	0
Exercised and canceled (in shares)	(2,131)	(2,131)	0	0
TSX Common Class A Shares \| Management Share Option Plan \| Equity-Settled Share-Based Payment Arrangement
Disclosure of terms and conditions of share-based payment arrangement [line items]
Beginning balance (in shares)	0	0	1,185	1,185
Granted (in shares)	0	0	0	0
Exercised (in shares)	0	0	(1,185)	(1,185)
Canceled (in shares), Beginning balance (in shares), Management Share Option Plan	0	0	0	0
Ending balance (in shares)	0	0	0	0
Weighted average exercise price of share options outstanding in share-based payment arrangement \| (per share)	$ 0	$ 0	$ 0	$ 0	$ 25.08	$ 22.69	$ 7.84	$ 19.68
Weighted average exercise price of share options granted in share-based payment arrangement \| (per share)	0	$ 45.21	0	$ 30.42
Weighted average exercise price of share options exercised in share-based payment arrangement \| (per share)	0	16.50	7.84	13.50
Weighted average exercise price of share options exercised (in dollars per share) \| (per share)	$ 0	$ 27.80	$ 0	$ 26.68
NYSE Common Class A Shares \| Management Share Option Plan \| Equity-Settled Share-Based Payment Arrangement
Disclosure of terms and conditions of share-based payment arrangement [line items]
Beginning balance (in shares)	50,703	50,703	55,113	55,113
Granted (in shares)	3,341	3,341	7,616	7,616
Exercised (in shares)	(6,382)	(6,382)	(11,747)	(11,747)
Canceled (in shares), Beginning balance (in shares), Management Share Option Plan	(295)	(295)	(279)	(279)
Ending balance (in shares)	47,367	47,367	50,703	50,703

EQUITY - Schedule Using Black-S

EQUITY - Schedule Using Black-Scholes Module (Details)	12 Months Ended
EQUITY - Schedule Using Black-Scholes Module (Details)	Dec. 31, 2020USD ($)yr$ / shares	Dec. 31, 2019USD ($)yr$ / shares	Dec. 31, 2020CAD ($)	Dec. 31, 2019CAD ($)
Management Share Option Plan \| Equity-Settled Share-Based Payment Arrangement
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average share price, share options granted \| $ / shares	$ 45.21	$ 30.42
Weighted-average fair value of a unit	$ 5.54	$ 3.92
Average term to exercise \| yr	7.5	7.5
Expected volatility, share options granted	17.00%	16.90%
Liquidity discount	25.00%	25.00%
Expected dividend as percentage, share options granted	1.50%	2.00%
Risk free interest rate, share options granted	1.40%	2.50%
Escrowed Stock Plan \| Equity-Settled Share-Based Payment Arrangement
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average share price, share options granted \| $ / shares	$ 45.21	$ 34.08
Weighted-average fair value of a unit	$ 5.54	$ 4.54
Average term to exercise \| yr	7.5	8,500,000
Expected volatility, share options granted	17.00%	17.30%
Liquidity discount	25.00%	25.00%
Expected dividend as percentage, share options granted	1.50%	1.80%
Risk free interest rate, share options granted	1.40%	2.10%
Deferred Stock Unit \| Cash-Settled Share-Based Payment Arrangement
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share Price on Date of Remeasurement in Canadian Dollars Per Share			$ 52.62	$ 50.02
Share price, on date of measurement	$ 41.27	$ 38.53

EQUITY - Schedule Of Options to

EQUITY - Schedule Of Options to Purchase Class A Shares (Details)	12 Months Ended
	Dec. 31, 2020sharesyr$ / shares	Dec. 31, 2019sharesyr$ / shares	Dec. 31, 2020USD ($)shares$ / shares	Dec. 31, 2019USD ($)shares$ / shares	Dec. 31, 2018shares$ / shares	Dec. 31, 2018shares$ / shares
US$10.30 - US$15.35
Disclosure of classes of share capital [line items]
Weighted average remaining contractual life of outstanding share options	1 year	1 year 7 months 6 days
US$15.58 - US$20.39
Disclosure of classes of share capital [line items]
Weighted average remaining contractual life of outstanding share options	3 years 9 months 18 days	4 years 8 months 12 days
US$22.50 - US$26.93
Disclosure of classes of share capital [line items]
Weighted average remaining contractual life of outstanding share options	5 years 10 months 24 days	6 years 9 months 18 days
US$29.48 - US$38.64
Disclosure of classes of share capital [line items]
Weighted average remaining contractual life of outstanding share options	8 years 2 months 12 days	9 years 2 months 12 days
US$45.21
Disclosure of classes of share capital [line items]
Exercise price of outstanding share options \| $ / shares			$ 45.21
Weighted average remaining contractual life of outstanding share options	9 years 2 months 12 days
Minimum \| US$10.30 - US$15.35
Disclosure of classes of share capital [line items]
Exercise price of outstanding share options \| $ / shares			10.30	$ 10.30
Minimum \| US$15.58 - US$20.39
Disclosure of classes of share capital [line items]
Exercise price of outstanding share options \| $ / shares			15.58	15.58
Minimum \| US$22.50 - US$26.93
Disclosure of classes of share capital [line items]
Exercise price of outstanding share options \| $ / shares			22.50	22.50
Minimum \| US$29.48 - US$38.64
Disclosure of classes of share capital [line items]
Exercise price of outstanding share options \| $ / shares			29.48	29.48
Maximum \| US$10.30 - US$15.35
Disclosure of classes of share capital [line items]
Exercise price of outstanding share options \| $ / shares			15.35	15.35
Maximum \| US$15.58 - US$20.39
Disclosure of classes of share capital [line items]
Exercise price of outstanding share options \| $ / shares			20.39	20.39
Maximum \| US$22.50 - US$26.93
Disclosure of classes of share capital [line items]
Exercise price of outstanding share options \| $ / shares			26.93	26.93
Maximum \| US$29.48 - US$38.64
Disclosure of classes of share capital [line items]
Exercise price of outstanding share options \| $ / shares			$ 38.64	$ 38.64
Deferred Stock Unit \| Cash-Settled Share-Based Payment Arrangement
Disclosure of classes of share capital [line items]
Number of share options outstanding in share-based payment arrangement			18,721,000	21,204,000	21,956,000	21,956,000
Number Of Share Options Granted And Reinvested In Share-Based Payment Arrangement	623,000	799,000
Number Of Share Options Exercised And Cancelled In Share-Based Payment Arrangement	(3,106,000)	(1,551,000)
Number of share options outstanding in share-based payment arrangement			18,721,000	21,204,000	21,956,000	21,956,000
Equity Settled Escrowed Stock Plan [Member] \| Equity-Settled Share-Based Payment Arrangement
Disclosure of classes of share capital [line items]
Number of share options outstanding in share-based payment arrangement			46,716,000	54,791,000	40,655,000	40,655,000
Weighted average fair value at measurement date, share options granted \| $			$ 5.54	$ 4.54
Option life, share options granted \| yr	7.5	8,500,000
Expected volatility, share options granted	17.00%	17.30%
Liquidity Discount	25.00%	25.00%
Expected dividend as percentage, share options granted	1.50%	1.80%
Risk free interest rate, share options granted	1.40%	2.10%
Weighted average exercise price of share options outstanding in share-based payment arrangement \| $ / shares			$ 28.88	$ 25.82		$ 22.18
Number of share options outstanding in share-based payment arrangement			46,716,000	54,791,000	40,655,000	40,655,000
Number of share options granted in share-based payment arrangement	3,841,000	15,975,000
Exercised (in shares)	(11,613,000)	(1,613,000)
Canceled (in shares), Beginning balance (in shares), Management Share Option Plan	(303,000)	(226,000)
Management Share Option Plan \| Equity-Settled Share-Based Payment Arrangement
Disclosure of classes of share capital [line items]
Weighted average fair value at measurement date, share options granted \| $			$ 5.54	$ 3.92
Option life, share options granted \| yr	7.5	7.5
Expected volatility, share options granted	17.00%	16.90%
Liquidity Discount	25.00%	25.00%
Expected dividend as percentage, share options granted	1.50%	2.00%
Risk free interest rate, share options granted	1.40%	2.50%
Management Share Option Plan \| Class A shares \| Equity-Settled Share-Based Payment Arrangement
Disclosure of classes of share capital [line items]
Vested (in shares)			30,227,000
Unvested (in shares)			17,140,000
Number of share options outstanding in share-based payment arrangement			47,367,000
Number of share options outstanding in share-based payment arrangement			47,367,000
Management Share Option Plan \| Class A shares \| Exercise Price Range One [Member] \| Equity-Settled Share-Based Payment Arrangement
Disclosure of classes of share capital [line items]
Vested (in shares)			2,254,000	5,619,000
Unvested (in shares)			0	0
Number of share options outstanding in share-based payment arrangement			2,254,000	5,619,000
Number of share options outstanding in share-based payment arrangement			2,254,000	5,619,000
Management Share Option Plan \| Class A shares \| Range two \| Equity-Settled Share-Based Payment Arrangement
Disclosure of classes of share capital [line items]
Vested (in shares)			11,860,000
Unvested (in shares)			1,131,000
Number of share options outstanding in share-based payment arrangement			12,991,000
Number of share options outstanding in share-based payment arrangement			12,991,000
Management Share Option Plan \| Class A shares \| Range three \| Equity-Settled Share-Based Payment Arrangement
Disclosure of classes of share capital [line items]
Vested (in shares)			14,280,000	12,523,000
Unvested (in shares)			7,010,000	2,313,000
Number of share options outstanding in share-based payment arrangement			21,290,000	14,836,000
Number of share options outstanding in share-based payment arrangement			21,290,000	14,836,000
Management Share Option Plan \| Class A shares \| Exercise Price Range Four [Member] \| Equity-Settled Share-Based Payment Arrangement
Disclosure of classes of share capital [line items]
Vested (in shares)			1,833,000	11,371,000
Unvested (in shares)			5,672,000	11,271,000
Number of share options outstanding in share-based payment arrangement			7,505,000	22,642,000
Number of share options outstanding in share-based payment arrangement			7,505,000	22,642,000
Management Share Option Plan \| Class A shares \| Exercise Price Range Five [Member] \| Equity-Settled Share-Based Payment Arrangement
Disclosure of classes of share capital [line items]
Vested (in shares)			0	613,000
Unvested (in shares)			3,327,000	6,993,000
Number of share options outstanding in share-based payment arrangement			3,327,000	7,606,000
Number of share options outstanding in share-based payment arrangement			3,327,000	7,606,000
Management Share Option Plan \| Class A shares \| Exercise Price Range Six [Member] \| Equity-Settled Share-Based Payment Arrangement
Disclosure of classes of share capital [line items]
Vested (in shares)				30,126,000
Unvested (in shares)				20,577,000
Number of share options outstanding in share-based payment arrangement				50,703,000
Number of share options outstanding in share-based payment arrangement				50,703,000
Restricted Share Unit [Member] \| Cash-Settled Share-Based Payment Arrangement
Disclosure of classes of share capital [line items]
Number of share options outstanding in share-based payment arrangement			13,679,000	15,810,000	15,810,000	15,810,000
Number Of Share Options Granted And Reinvested In Share-Based Payment Arrangement	0	0
Weighted average exercise price of share options outstanding in share-based payment arrangement \| $ / shares	$ 6.10	$ 6.14			$ 6.14
Number Of Share Options Exercised And Cancelled In Share-Based Payment Arrangement	(2,131,000)	0
Weighted Average Exercise Price Of Share Options Exercised And Cancelled In Share-Based Payment Arrangement \| $ / shares	$ 6.35	$ 0
Number of share options outstanding in share-based payment arrangement			13,679,000	15,810,000	15,810,000	15,810,000

EQUITY - Schedule of Share Pric

EQUITY - Schedule of Share Prices for Fair Value (Details) - Cash-Settled Share-Based Payment Arrangement	Dec. 31, 2020CAD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019CAD ($)	Dec. 31, 2019USD ($)
Deferred Stock Unit
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share Price on Date of Remeasurement in Canadian Dollars Per Share	$ 52.62		$ 50.02
Share Price on Date of Remeasurement in US Dollars per Share		$ 41.27		$ 38.53
Restricted Stock Unit
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share Price on Date of Remeasurement in Canadian Dollars Per Share	$ 52.62		$ 50.02
Share Price on Date of Remeasurement in US Dollars per Share		$ 46.52		$ 43.88

REVENUES - BY TYPE (Details)

REVENUES - BY TYPE (Details) - USD ($) $ in Millions	12 Months Ended
REVENUES - BY TYPE (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 52,786	$ 58,799
Other revenue	9,966	9,027
Revenue	62,752	67,826
Asset management
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	246	271
Other revenue	0	0
Revenue	246	271
Real Estate
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2,403	3,833
Other revenue	6,448	6,609
Revenue	8,851	10,442
Renewable Power
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	3,757	3,810
Other revenue	328	149
Revenue	4,085	3,959
Infrastructure
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	8,611	6,333
Other revenue	683	758
Revenue	9,294	7,091
Private Equity
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	35,599	42,147
Other revenue	1,562	952
Revenue	37,161	43,099
Residential
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2,170	2,396
Other revenue	73	60
Corporate Activities
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	9
Other revenue	872	499
Revenue	872	508
Residential Development
Disaggregation of Revenue [Line Items]
Revenue	2,243	2,456
Goods or services transferred over time [member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	20,819	20,752
Goods or services transferred over time [member] \| Asset management
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	246	271
Goods or services transferred over time [member] \| Real Estate
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,850	2,640
Goods or services transferred over time [member] \| Renewable Power
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	3,614	3,715
Goods or services transferred over time [member] \| Infrastructure
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	8,451	6,108
Goods or services transferred over time [member] \| Private Equity
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	6,655	8,006
Goods or services transferred over time [member] \| Residential
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	3	12
Goods or services transferred over time [member] \| Corporate Activities
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Goods or services transferred at point in time [member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	31,967	38,047
Goods or services transferred at point in time [member] \| Asset management
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Goods or services transferred at point in time [member] \| Real Estate
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	553	1,193
Goods or services transferred at point in time [member] \| Renewable Power
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	143	95
Goods or services transferred at point in time [member] \| Infrastructure
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	160	225
Goods or services transferred at point in time [member] \| Private Equity
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	28,944	34,141
Goods or services transferred at point in time [member] \| Residential
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2,167	2,384
Goods or services transferred at point in time [member] \| Corporate Activities
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 0	$ 9

REVENUES - BY TIMING OF RECOGNI

REVENUES - BY TIMING OF RECOGNITION OF REVENUE FROM CONTRACTS WITH CUSTOMERS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	$ 52,786	$ 58,799
Asset management
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	246	271
Real Estate
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	2,403	3,833
Renewable Power
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	3,757	3,810
Infrastructure
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	8,611	6,333
Private Equity
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	35,599	42,147
Residential
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	2,170	2,396
Corporate Activities
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	0	9
Goods or services transferred at point in time [member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	31,967	38,047
Goods or services transferred at point in time [member] \| Asset management
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	0	0
Goods or services transferred at point in time [member] \| Real Estate
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	553	1,193
Goods or services transferred at point in time [member] \| Renewable Power
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	143	95
Goods or services transferred at point in time [member] \| Infrastructure
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	160	225
Goods or services transferred at point in time [member] \| Private Equity
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	28,944	34,141
Goods or services transferred at point in time [member] \| Residential
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	2,167	2,384
Goods or services transferred at point in time [member] \| Corporate Activities
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	0	9
Goods or services transferred over time [member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	20,819	20,752
Goods or services transferred over time [member] \| Asset management
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	246	271
Goods or services transferred over time [member] \| Real Estate
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	1,850	2,640
Goods or services transferred over time [member] \| Renewable Power
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	3,614	3,715
Goods or services transferred over time [member] \| Infrastructure
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	8,451	6,108
Goods or services transferred over time [member] \| Private Equity
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	6,655	8,006
Goods or services transferred over time [member] \| Residential
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	3	12
Goods or services transferred over time [member] \| Corporate Activities
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	$ 0	$ 0

REVENUES - Narrative (Details)

REVENUES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
REVENUES - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	$ 62,752	$ 67,826
Operating lease income	6,700	6,800
Income relating to variable lease payments for operating leases that do not depend on index or rate	75	67
Private Equity
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	37,161	43,099
Private Equity \| Construction Services [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Transaction price allocated to remaining performance obligations	$ 5,600	$ 7,000
Backlog	two years	two years
Private Equity \| Service concession arrangements [member] \| Brazilian water and wastewater services [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Backlog	24 years	24 years

REVENUES Revenue - Lease Paymen

REVENUES Revenue - Lease Payment Receivable (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Disclosure of maturity analysis of finance lease payments receivable [line items]
Undiscounted finance lease payments to be received	$ 35,755	$ 35,372
Less than 1 year
Disclosure of maturity analysis of finance lease payments receivable [line items]
Undiscounted finance lease payments to be received	4,738	4,514
1 to 3 Years
Disclosure of maturity analysis of finance lease payments receivable [line items]
Undiscounted finance lease payments to be received	8,385	8,239
Later than four years and not later than five years [member]
Disclosure of maturity analysis of finance lease payments receivable [line items]
Undiscounted finance lease payments to be received	6,661	6,744
Thereafter
Disclosure of maturity analysis of finance lease payments receivable [line items]
Undiscounted finance lease payments to be received	$ 15,971	$ 15,875

DIRECT COSTS - Schedule of List

DIRECT COSTS - Schedule of Lists of Direct Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Analysis of income and expense [abstract]
Cost of sales	$ 35,150	$ 41,463
Compensation	6,857	6,035
Selling, general and administrative expenses	2,860	2,612
Property taxes, sales taxes and other	2,519	2,618
Total	$ 47,386	$ 52,728

FAIR VALUE CHANGES (Details)

FAIR VALUE CHANGES (Details) - USD ($) $ in Millions	12 Months Ended
FAIR VALUE CHANGES (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Disclosure of fair value measurement of assets [line items]
Fair value changes in net income	$ (1,423)	$ (831)
Investment property [member]
Disclosure of fair value measurement of assets [line items]
Fair value changes in net income	(269)	1,710
Transaction related gains, net of deal costs
Disclosure of fair value measurement of assets [line items]
Fair value changes in net income	20	(895)
Financial contracts
Disclosure of fair value measurement of assets [line items]
Fair value changes in net income	686	(140)
Impairment and provisions
Disclosure of fair value measurement of assets [line items]
Fair value changes in net income	(808)	(825)
Other fair value changes
Disclosure of fair value measurement of assets [line items]
Fair value changes in net income	$ (1,052)	$ (681)

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS - Notional Amount of Derivative Positions (Details) $ in Millions	Dec. 31, 2020USD ($)MMBTUGWh	Dec. 31, 2019USD ($)MMBTUGWh
Foreign exchange
Disclosure of detailed information about financial instruments [line items]
Derivative, Notional Amount1	$ 39,284	$ 37,334
Derivative, Notional Amount1	39,284	37,334
Interest rates
Disclosure of detailed information about financial instruments [line items]
Derivative, Notional Amount1	61,111	51,619
Derivative, Notional Amount1	61,111	51,619
Credit default swaps
Disclosure of detailed information about financial instruments [line items]
Derivative, Notional Amount1	0	39
Derivative, Notional Amount1	0	39
Equity derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative, Notional Amount1	2,081	2,517
Derivative, Notional Amount1	$ 2,081	$ 2,517
Energy commodity instrument [Member]
Disclosure of detailed information about financial instruments [line items]
Nominal Amount of Commodity Derivatives \| GWh	27,564	25,136
Nominal Amount of Commodity Derivatives \| GWh	27,564	25,136
Natural gas commodity instrument [Member]
Disclosure of detailed information about financial instruments [line items]
Nominal Amount of Commodity Derivatives \| MMBTU	121,468,000	78,364,000
Nominal Amount of Commodity Derivatives \| MMBTU	121,468,000	78,364,000

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS - Foreign Exchange Contract Derivative Positions (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Unrealised Gains (Losses) On Change In Fair Value Of Derivatives	$ 540	$ 19
Foreign exchange contracts
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Unrealised Gains (Losses) On Change In Fair Value Of Derivatives	(41)	201
Gains (losses) on hedges of net investments in foreign operations, net of tax	28	409
Derivative, Notional Amount1	39,284	37,334
Derivative, Notional Amount1	39,284	37,334
Foreign exchange contracts \| Canadian dollars
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 7,539	$ 6,839
Average Exchange Rate	0.76	0.75
Derivative, Notional Amount1	$ 7,539	$ 6,839
Average Exchange Rate	0.76	0.75
Foreign exchange contracts \| British pounds
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 3,986	$ 7,874
Average Exchange Rate	1.31	1.27
Derivative, Notional Amount1	$ 3,986	$ 7,874
Average Exchange Rate	1.31	1.27
Foreign exchange contracts \| European Union euros
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 4,561	$ 2,069
Average Exchange Rate	1.17	1.16
Derivative, Notional Amount1	$ 4,561	$ 2,069
Average Exchange Rate	1.17	1.16
Foreign exchange contracts \| Australian dollars
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 2,632	$ 3,989
Average Exchange Rate	0.69	0.71
Derivative, Notional Amount1	$ 2,632	$ 3,989
Average Exchange Rate	0.69	0.71
Foreign exchange contracts \| Indian rupees
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 1,288	$ 240
Average Exchange Rate	77.56	73.55
Derivative, Notional Amount1	$ 1,288	$ 240
Average Exchange Rate	77.56	73.55
Foreign exchange contracts \| Chile, Pesos
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 159	$ 548
Average Exchange Rate	770.89	722.08
Derivative, Notional Amount1	$ 159	$ 548
Average Exchange Rate	770.89	722.08
Foreign exchange contracts \| Korean won
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 700	$ 687
Average Exchange Rate	1,175	1,173
Derivative, Notional Amount1	$ 700	$ 687
Average Exchange Rate	1,175	1,173
Foreign exchange contracts \| Chinese yuan1
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 1,633	$ 1,862
Average Exchange Rate	7.05	5.42
Derivative, Notional Amount1	$ 1,633	$ 1,862
Average Exchange Rate	7.05	5.42
Foreign exchange contracts \| Japanese yen
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 212	$ 111
Average Exchange Rate	105.82	104.58
Derivative, Notional Amount1	$ 212	$ 111
Average Exchange Rate	105.82	104.58
Foreign exchange contracts \| Brazilian reais
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 276	$ 484
Average Exchange Rate	0.19	0.24
Derivative, Notional Amount1	$ 276	$ 484
Average Exchange Rate	0.19	0.24
Foreign exchange contracts \| Sweden, Kronor
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 1,647	$ 1,578
Average Exchange Rate	8.58	9.10
Derivative, Notional Amount1	$ 1,647	$ 1,578
Average Exchange Rate	8.58	9.10
Foreign exchange contracts \| Other currencies
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 903	$ 584
Derivative, Notional Amount1	903	584
Foreign exchange contracts \| Colombian pesos1
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 96	$ 534
Average Exchange Rate	3,621	3,416
Derivative, Notional Amount1	$ 96	$ 534
Average Exchange Rate	3,621	3,416
Cross currency interest rate swaps [Member] \| Canadian dollars
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 6,868	$ 4,493
Average Exchange Rate	0.77	0.77
Derivative, Notional Amount1	$ 6,868	$ 4,493
Average Exchange Rate	0.77	0.77
Cross currency interest rate swaps [Member] \| British pounds
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 275	$ 267
Average Exchange Rate	1.49	1.49
Derivative, Notional Amount1	$ 275	$ 267
Average Exchange Rate	1.49	1.49
Cross currency interest rate swaps [Member] \| European Union euros
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 1,914	$ 103
Average Exchange Rate	1.06	1.09
Derivative, Notional Amount1	$ 1,914	$ 103
Average Exchange Rate	1.06	1.09
Cross currency interest rate swaps [Member] \| Australian dollars
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 1,374	$ 2,033
Average Exchange Rate	0.53	0.98
Derivative, Notional Amount1	$ 1,374	$ 2,033
Average Exchange Rate	0.53	0.98
Cross currency interest rate swaps [Member] \| Japanese yen
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 750	$ 18
Average Exchange Rate	113.33	110
Derivative, Notional Amount1	$ 750	$ 18
Average Exchange Rate	113.33	110
Cross currency interest rate swaps [Member] \| Colombian pesos1
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 88	$ 100
Average Exchange Rate	3,880	3,463
Derivative, Notional Amount1	$ 88	$ 100
Average Exchange Rate	3,880	3,463
Futures contract [member] \| Brazilian reais
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 105	$ 38
Average Exchange Rate	0.19	0.25
Derivative, Notional Amount1	$ 105	$ 38
Average Exchange Rate	0.19	0.25
Foreign exchange options [Member] \| British pounds
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 0	$ 1,338
Average Exchange Rate	0	1.43
Derivative, Notional Amount1	$ 0	$ 1,338
Average Exchange Rate	0	1.43
Foreign exchange options [Member] \| European Union euros
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 245	$ 1,544
Average Exchange Rate	1.17	1.12
Derivative, Notional Amount1	$ 245	$ 1,544
Average Exchange Rate	1.17	1.12
Foreign exchange options [Member] \| Chinese yuan1
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 2,030	$ 0
Average Exchange Rate	0.74	0
Derivative, Notional Amount1	$ 2,030	$ 0
Average Exchange Rate	0.74	0

DERIVATIVE FINANCIAL INSTRUME_5

DERIVATIVE FINANCIAL INSTRUMENTS - Narrative (Details) bbl in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)MMBTUGWhbbl	Dec. 31, 2019USD ($)GWhMMBTUbbl
Disclosure of detailed information about hedging instruments [line items]
Unrealised Gains (Losses) On Change In Fair Value Of Derivatives	$ 540	$ 19
Unrealised Gains (Losses) On Change In Fair Value Of Derivatives	540	19
Cash flow hedges
Disclosure of detailed information about hedging instruments [line items]
Nominal amount of derivative positions	39,128	32,709
Derivative, Notional Amount1	39,128	32,709
Equity derivatives
Disclosure of detailed information about hedging instruments [line items]
Nominal amount of derivative positions	1,300	541
Derivative, Notional Amount1	1,300	541
Foreign exchange contracts
Disclosure of detailed information about hedging instruments [line items]
Unrealised Gains (Losses) On Change In Fair Value Of Derivatives	(41)	201
Gains in respect of foreign currency contracts entered into for hedging purposes	(28)	(409)
Nominal amount of derivative positions	39,284	37,334
Unrealised Gains (Losses) On Change In Fair Value Of Derivatives	(41)	201
Gains (losses) on hedges of net investments in foreign operations, net of tax	28	409
Derivative, Notional Amount1	$ 39,284	$ 37,334
Natural gas commodity instrument [Member]
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| MMBTU	121,468,000	78,364,000
Nominal Amount of Commodity Derivatives \| MMBTU	121,468,000	78,364,000
Natural gas commodity instrument [Member] \| Cash flow hedges
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| MMBTU	82,663,000	12,164,000
Nominal Amount of Commodity Derivatives \| MMBTU	82,663,000	12,164,000
Equity derivatives
Disclosure of detailed information about hedging instruments [line items]
Unrealised Gains (Losses) On Change In Fair Value Of Derivatives	$ 850	$ 13
Nominal amount of derivative positions	2,081	2,517
Unrealised Gains (Losses) On Change In Fair Value Of Derivatives	850	13
Derivative, Notional Amount1	$ 2,081	$ 2,517
Energy commodity instrument [Member]
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| GWh	27,564	25,136
Nominal Amount of Commodity Derivatives \| GWh	27,564	25,136
Energy commodity instrument [Member] \| Cash flow hedges
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| GWh	13,950	14,485
Nominal Amount of Commodity Derivatives \| GWh	13,950	14,485
Oil and gas assets [member] \| Cash flow hedges
Disclosure of detailed information about hedging instruments [line items]
Number in Barrels of Commodity Derivatives \| bbl	1,302	2,273
Interest Rate Swaptions
Disclosure of detailed information about hedging instruments [line items]
Nominal amount of derivative positions	$ 3,900	$ 0
Derivative, Notional Amount1	3,900	0
Interest rate swap and forward starting swap contracts
Disclosure of detailed information about hedging instruments [line items]
Nominal amount of derivative positions	30,200	25,000
Derivative, Notional Amount1	30,200	25,000
Credit Default Swaps
Disclosure of detailed information about hedging instruments [line items]
Nominal amount of derivative positions	0	39
Payments to be received in the event of a predetermined credit event		0
Derivative, Notional Amount1	0	39
Payments to be received in the event of a predetermined credit event		0
Interest Rate Cap Contracts
Disclosure of detailed information about hedging instruments [line items]
Nominal amount of derivative positions	27,000	26,600
Derivative, Notional Amount1	$ 27,000	$ 26,600

DERIVATIVE FINANCIAL INSTRUME_6

DERIVATIVE FINANCIAL INSTRUMENTS - Hedge Classification (Details) bbl in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)MMBTUGWhbbl	Dec. 31, 2019USD ($)GWhMMBTUbbl
Cash flow hedges
Disclosure of detailed information about hedging instruments [line items]
Nominal amount of derivative positions	$ 39,128	$ 32,709
Gains (losses) on cash flow hedges, before tax	(479)	(89)
Ineffective Portion	10	20
Derivative, Notional Amount1	39,128	32,709
Ineffective Portion	10	20
Net investment hedges
Disclosure of detailed information about hedging instruments [line items]
Nominal amount of derivative positions	17,788	22,790
Gains (losses) on hedges of net investments in foreign operations, before tax	182	(433)
Ineffective Portion	10	16
Derivative, Notional Amount1	17,788	22,790
Ineffective Portion	10	16
Cash flow hedges and hedges of net investment in foreign operations [Member]
Disclosure of detailed information about hedging instruments [line items]
Nominal amount of derivative positions	56,916	55,499
Gain (loss) on hedge effectiveness recognised in other comprehensive income	(297)	(522)
Ineffective Portion	20	36
Derivative, Notional Amount1	56,916	55,499
Ineffective Portion	20	36
Gain (loss) on hedge effectiveness recognised in other comprehensive income	$ (297)	$ (522)
Oil and gas assets [member] \| Cash flow hedges
Disclosure of detailed information about hedging instruments [line items]
Number in Barrels of Commodity Derivatives \| bbl	1,302	2,273
Energy commodity instrument [Member]
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| GWh	27,564	25,136
Energy commodity instrument [Member] \| Cash flow hedges
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| GWh	13,950	14,485
Natural gas commodity instrument [Member]
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| MMBTU	121,468,000	78,364,000
Natural gas commodity instrument [Member] \| Cash flow hedges
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| MMBTU	82,663,000	12,164,000

DERIVATIVE FINANCIAL INSTRUME_7

DERIVATIVE FINANCIAL INSTRUMENTS - Change in Fair Value of Derivative Instruments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about hedging instruments [line items]
Unrealized Gains	$ 1,734
Unrealized losses	(1,194)
Net Change	540	$ 19
Unrealized Gains	1,734
Unrealised Losses On Change In Fair Value Of Derivatives	1,194
Unrealised Gains (Losses) On Change In Fair Value Of Derivatives	540	19
Foreign exchange
Disclosure of detailed information about hedging instruments [line items]
Unrealized Gains	419
Unrealized losses	(460)
Net Change	(41)	201
Unrealized Gains	419
Unrealised Losses On Change In Fair Value Of Derivatives	460
Unrealised Gains (Losses) On Change In Fair Value Of Derivatives	(41)	201
Interest rates
Disclosure of detailed information about hedging instruments [line items]
Unrealized Gains	110
Unrealized losses	(337)
Net Change	(227)	(221)
Unrealized Gains	110
Unrealised Losses On Change In Fair Value Of Derivatives	337
Unrealised Gains (Losses) On Change In Fair Value Of Derivatives	(227)	(221)
Credit default swaps
Disclosure of detailed information about hedging instruments [line items]
Unrealized Gains	0
Unrealized losses	0
Net Change	0	(1)
Unrealized Gains	0
Unrealised Losses On Change In Fair Value Of Derivatives	0
Unrealised Gains (Losses) On Change In Fair Value Of Derivatives	0	(1)
Equity derivatives
Disclosure of detailed information about hedging instruments [line items]
Unrealized Gains	1,161
Unrealized losses	(311)
Net Change	850	13
Unrealized Gains	1,161
Unrealised Losses On Change In Fair Value Of Derivatives	311
Unrealised Gains (Losses) On Change In Fair Value Of Derivatives	850	13
Commodity instruments
Disclosure of detailed information about hedging instruments [line items]
Unrealized Gains	44
Unrealized losses	(86)
Net Change	(42)	27
Unrealized Gains	44
Unrealised Losses On Change In Fair Value Of Derivatives	86
Unrealised Gains (Losses) On Change In Fair Value Of Derivatives	$ (42)	$ 27

DERIVATIVE FINANCIAL INSTRUME_8

DERIVATIVE FINANCIAL INSTRUMENTS - Notional Amount of Derivative Instruments Fair Value Through Profit or Loss (Details) MMBTU in Thousands, $ in Millions	Dec. 31, 2020USD ($)GWhMMBTU	Dec. 31, 2019USD ($)GWhMMBTU
Foreign exchange contracts \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	$ 27,106	$ 29,387
Derivative, Notional Amount1	27,106	29,387
Foreign exchange contracts \| Less than 1 year \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	13,498
Derivative, Notional Amount1	13,498
Foreign exchange contracts \| 1 to 5 Years \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	12,086
Derivative, Notional Amount1	12,086
Foreign exchange contracts \| Greater than 5 years \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	1,522
Derivative, Notional Amount1	1,522
Interest rates \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	34,032	28,888
Derivative, Notional Amount1	34,032	28,888
Interest rates \| Less than 1 year \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	7,738
Derivative, Notional Amount1	7,738
Interest rates \| 1 to 5 Years \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	22,054
Derivative, Notional Amount1	22,054
Interest rates \| Greater than 5 years \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	4,240
Derivative, Notional Amount1	4,240
Equity derivatives
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	1,300	541
Derivative, Notional Amount1	1,300	541
Equity derivatives \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	0	0
Derivative, Notional Amount1	0	$ 0
Equity derivatives \| Less than 1 year \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	0
Derivative, Notional Amount1	0
Equity derivatives \| 1 to 5 Years \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	0
Derivative, Notional Amount1	0
Equity derivatives \| Greater than 5 years \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	0
Derivative, Notional Amount1	$ 0
Energy commodity instrument [Member] \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| GWh	13,950,000,000	14,485,000,000
Nominal Amount of Commodity Derivatives \| GWh	13,950,000,000	14,485,000,000
Energy commodity instrument [Member] \| Less than 1 year \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| GWh	5,562,000,000
Nominal Amount of Commodity Derivatives \| GWh	5,562,000,000
Energy commodity instrument [Member] \| 1 to 5 Years \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| GWh	5,066,000,000
Nominal Amount of Commodity Derivatives \| GWh	5,066,000,000
Energy commodity instrument [Member] \| Greater than 5 years \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| GWh	3,322,000,000
Nominal Amount of Commodity Derivatives \| GWh	3,322,000,000
Natural gas commodity instrument [Member] \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| MMBTU	82,664	12,164
Nominal Amount of Commodity Derivatives \| MMBTU	82,664	12,164
Natural gas commodity instrument [Member] \| Less than 1 year \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| MMBTU	51,034
Nominal Amount of Commodity Derivatives \| MMBTU	51,034
Natural gas commodity instrument [Member] \| 1 to 5 Years \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| MMBTU	31,630
Nominal Amount of Commodity Derivatives \| MMBTU	31,630
Natural gas commodity instrument [Member] \| Greater than 5 years \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| MMBTU	0
Nominal Amount of Commodity Derivatives \| MMBTU	0
Foreign exchange contracts \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	$ 12,178	$ 7,946
Derivative, Notional Amount1	12,178	7,946
Foreign exchange contracts \| Less than 1 year \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	6,891
Derivative, Notional Amount1	6,891
Foreign exchange contracts \| 1 to 5 Years \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	5,158
Derivative, Notional Amount1	5,158
Foreign exchange contracts \| Greater than 5 years \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	129
Derivative, Notional Amount1	129
Interest rates \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	27,080	22,731
Derivative, Notional Amount1	27,080	22,731
Interest rates \| Less than 1 year \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	13,158
Derivative, Notional Amount1	13,158
Interest rates \| 1 to 5 Years \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	12,308
Derivative, Notional Amount1	12,308
Interest rates \| Greater than 5 years \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	1,614
Derivative, Notional Amount1	1,614
Credit default swaps \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	0	39
Derivative, Notional Amount1	0	39
Credit default swaps \| Less than 1 year \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	0
Derivative, Notional Amount1	0
Credit default swaps \| 1 to 5 Years \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	0
Derivative, Notional Amount1	0
Credit default swaps \| Greater than 5 years \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	0
Derivative, Notional Amount1	0
Equity derivatives \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	2,081	2,517
Derivative, Notional Amount1	2,081	$ 2,517
Equity derivatives \| Less than 1 year \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	1,216
Derivative, Notional Amount1	1,216
Equity derivatives \| 1 to 5 Years \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	865
Derivative, Notional Amount1	865
Equity derivatives \| Greater than 5 years \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	0
Derivative, Notional Amount1	$ 0
Energy commodity instrument [Member] \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| GWh	13,613,000,000	10,652,000,000
Nominal Amount of Commodity Derivatives \| GWh	13,613,000,000	10,652,000,000
Energy commodity instrument [Member] \| Less than 1 year \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| GWh	4,406,000,000
Nominal Amount of Commodity Derivatives \| GWh	4,406,000,000
Energy commodity instrument [Member] \| 1 to 5 Years \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| GWh	9,207,000,000
Nominal Amount of Commodity Derivatives \| GWh	9,207,000,000
Energy commodity instrument [Member] \| Greater than 5 years \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| GWh	0
Nominal Amount of Commodity Derivatives \| GWh	0
Natural gas commodity instrument [Member] \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| MMBTU	38,805	66,200
Nominal Amount of Commodity Derivatives \| MMBTU	38,805	66,200
Natural gas commodity instrument [Member] \| Less than 1 year \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| MMBTU	34,572
Nominal Amount of Commodity Derivatives \| MMBTU	34,572
Natural gas commodity instrument [Member] \| 1 to 5 Years \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| MMBTU	4,233
Nominal Amount of Commodity Derivatives \| MMBTU	4,233
Natural gas commodity instrument [Member] \| Greater than 5 years \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| MMBTU	0
Nominal Amount of Commodity Derivatives \| MMBTU	0

MANAGEMENT OF RISKS ARISING F_3

MANAGEMENT OF RISKS ARISING FROM HOLDING FINANCIAL INSTRUMENTS - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Basis point increase in interest rates	0.50
Net income impact of a 50 basis-point increase in interest rate on floating rate financial assets and liabilities	$ 156	$ 246
Net income impact of 50 basis point increase in yield curve on financial assets and liabilities	137	146
Other comprehensive income impact of 50 basis point increase in yield curve on financial assets and liabilities	363	309
Net income impact of a 50 basis-point increase in interest rate on floating rate financial assets and liabilities	(156)	(246)
Net income impact of 50 basis point increase in yield curve on financial assets and liabilities	137	146
Other comprehensive income impact of 50 basis point increase in yield curve on financial assets and liabilities	$ 363	309
Currency risk
Disclosure of detailed information about financial instruments [line items]
Percentage of increase in U.S dollar against other currencies	1.00%
Impact of 1% increase in U.S. dollar against foreign currencies on unhedged financial instruments	$ 117	74
Impact of 1% increase in U.S. dollar against foreign currencies on hedged financial instruments	$ 235	259
Percentage of increase in U.S dollar against other currencies	1.00%
Impact of 1% increase in U.S. dollar against foreign currencies on unhedged financial instruments	$ 117	74
Impact of 1% increase in U.S. dollar against foreign currencies on hedged financial instruments	$ 235	259
Equity price risk
Disclosure of detailed information about financial instruments [line items]
Percentage decrease in the market price of equity securities and equity derivatives	5.00%
Impact on Net Income as a Result of a Percentage Decrease Equity Securities	$ 186	14
Impact on Other Comprehensive Income as a Result of a Percentage Decrease Equity Securities	$ 161	70
Percentage change in the common equity price	5.00%
Increase in compensation liability and expense	$ 69	75
Increase (decrease) in equity derivatives used for compensation hedging from a 5% change in the common equity price of the company	78	80
Amount to offset increase in compensation expense	69	75
Other comprehensive income impact of equity derivatives used for compensation hedging	$ 9	5
Percentage Of Increase (Decrease) In Market Price Of Equity Securities And Equity Derivatives	(5.00%)
Net income impact of a 5% decrease in market price of equity securities and derivatives not designated for hedging	$ (186)	(14)
Other comprehensive income impact of a 5% decrease in market price of equity securities and derivatives not designated for hedging	$ (161)	(70)
Percentage change in the common equity price	5.00%
Increase in compensation liability and expense	$ 69	75
Increase (decrease) in equity derivatives used for compensation hedging from a 5% change in the common equity price of the company	78	80
Amount to offset increase in compensation expense	69	75
Other comprehensive income impact of equity derivatives used for compensation hedging	$ 9	5
Other price risk
Disclosure of detailed information about financial instruments [line items]
Percentage increase in energy prices	5.00%
Impact on net income from a 5% decrease in energy prices	$ 16.2	5
Impact on other comprehensive income from a 5% decrease in energy prices	$ 19.4	0
Percentage increase in energy prices	5.00%
Net income impact from a 5% increase in energy prices	$ (16.2)	(5)
Other comprehensive income impact from a 5% increase in energy prices	(19.4)	0
Credit risk
Disclosure of detailed information about financial instruments [line items]
Nominal amount of derivative positions	$ 0	42
Basis point increase increase in credit spread of underlying reference assets of credit default contracts	0.50
Net income impact from a 50 basis point increase in credit spreads of underlying reference assets of credit default swap contracts	$ 0	1
Derivative, Notional Amount1	$ 0	42
Basis point increase increase in credit spread of underlying reference assets of credit default contracts	0.50
Net income impact from a 50 basis point increase in credit spreads of underlying reference assets of credit default swap contracts	$ 0	$ 1

MANAGEMENT OF RISKS ARISING F_4

MANAGEMENT OF RISKS ARISING FROM HOLDING FINANCIAL INSTRUMENTS - Contractual Maturities of Financial Liabilities (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Principal repayments
Principal repayments of borrowings	$ 9,077	$ 7,083
Principal repayment of borrowings	9,077	7,083
Non-recourse borrowings of managed entities	139,324	136,292
Subsidiary equity obligations	3,699	4,132
Interest expense
Corporate borrowings	5,450	3,221
Non-recourse borrowings	28,556	28,124
Subsidiary equity obligations	575	731
Insurance contracts that are liabilities	8,223	5,494
Corporate borrowings	9,077	7,083
Principal repayment of borrowings	9,077	7,083
Non-recourse borrowings of managed entities	139,324	136,292
Subsidiary equity obligations	3,699	4,132
Corporate borrowings	5,450	3,221
Non-recourse borrowings	28,556	28,124
Subsidiary equity obligations	575	731
Lease obligations	8,223	5,494
Undiscounted Finance Lease Payments to be Paid
Interest expense
Insurance contracts that are liabilities	15,375	13,993
Lease obligations	$ 15,375	13,993
Interest rate risk
Interest expense
Basis point increase in interest rates	0.50
Net income impact of a 50 basis-point increase in interest rate on floating rate financial assets and liabilities	$ 156	246
Net income impact of 50 basis point increase in yield curve on financial assets and liabilities	137	146
Other comprehensive income impact of 50 basis point increase in yield curve on financial assets and liabilities	$ 363	309
Currency risk
Interest expense
Percentage of increase in U.S dollar against other currencies	1.00%
Impact of 1% increase in U.S. dollar against foreign currencies on unhedged financial instruments	$ 117	74
Impact of 1% increase in U.S. dollar against foreign currencies on hedged financial instruments	235	259
Less than 1 year
Principal repayments
Principal repayments of borrowings	0
Principal repayment of borrowings		0
Non-recourse borrowings of managed entities	21,108	15,563
Subsidiary equity obligations	799	188
Interest expense
Corporate borrowings	405	327
Non-recourse borrowings	5,145	5,210
Subsidiary equity obligations	147	151
Corporate borrowings	0
Principal repayment of borrowings		0
Non-recourse borrowings of managed entities	21,108	15,563
Subsidiary equity obligations	799	188
Corporate borrowings	405	327
Non-recourse borrowings	5,145	5,210
Subsidiary equity obligations	147	151
Less than 1 year \| Undiscounted Finance Lease Payments to be Paid
Interest expense
Insurance contracts that are liabilities	815	766
Lease obligations	815	766
1 to 3 Years
Principal repayments
Principal repayments of borrowings	467
Principal repayment of borrowings		269
Non-recourse borrowings of managed entities	29,399	28,396
Subsidiary equity obligations	1,147	1,677
Interest expense
Corporate borrowings	793	629
Non-recourse borrowings	8,788	8,524
Subsidiary equity obligations	213	261
Corporate borrowings	467
Principal repayment of borrowings		269
Non-recourse borrowings of managed entities	29,399	28,396
Subsidiary equity obligations	1,147	1,677
Corporate borrowings	793	629
Non-recourse borrowings	8,788	8,524
Subsidiary equity obligations	213	261
1 to 3 Years \| Undiscounted Finance Lease Payments to be Paid
Interest expense
Insurance contracts that are liabilities	1,682	1,171
Lease obligations	1,682	1,171
Later than four years and not later than five years [member]
Principal repayments
Principal repayments of borrowings	1,630
Principal repayment of borrowings		1,597
Non-recourse borrowings of managed entities	40,049	34,602
Subsidiary equity obligations	800	745
Interest expense
Corporate borrowings	659	551
Non-recourse borrowings	6,310	6,641
Subsidiary equity obligations	171	212
Corporate borrowings	1,630
Principal repayment of borrowings		1,597
Non-recourse borrowings of managed entities	40,049	34,602
Subsidiary equity obligations	800	745
Corporate borrowings	659	551
Non-recourse borrowings	6,310	6,641
Subsidiary equity obligations	171	212
Later than four years and not later than five years [member] \| Undiscounted Finance Lease Payments to be Paid
Interest expense
Insurance contracts that are liabilities	1,123	992
Lease obligations	1,123	992
Greater than 5 years
Principal repayments
Principal repayments of borrowings	6,980
Principal repayment of borrowings		5,217
Non-recourse borrowings of managed entities	48,768	57,731
Subsidiary equity obligations	953	1,522
Interest expense
Corporate borrowings	3,593	1,714
Non-recourse borrowings	8,313	7,749
Subsidiary equity obligations	44	107
Corporate borrowings	6,980
Principal repayment of borrowings		5,217
Non-recourse borrowings of managed entities	48,768	57,731
Subsidiary equity obligations	953	1,522
Corporate borrowings	3,593	1,714
Non-recourse borrowings	8,313	7,749
Subsidiary equity obligations	44	107
Greater than 5 years \| Undiscounted Finance Lease Payments to be Paid
Interest expense
Insurance contracts that are liabilities	11,755	11,064
Lease obligations	$ 11,755	$ 11,064

CAPITAL MANAGEMENT - Narrative

CAPITAL MANAGEMENT - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Disclosure of classes of share capital [line items]
Equity	$ 122,642	$ 116,846
Corporate borrowings	9,077	7,083
Equity	$ 122,642	$ 116,846

RELATED PARTY TRANSACTIONS RELA

RELATED PARTY TRANSACTIONS RELATED PARTY TRANSACTIONS - Renumeration of Directors and Other Key Management (Details) - Key management personnel of entity or parent [member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of transactions between related parties [line items]
Salaries, incentives and short-term benefits	$ 14	$ 19
Share-based payments	81	46
Total	95	65
Salaries, incentives and short-term benefits	14	19
Key management personnel compensation	95	65
Share-based payments	$ 81	$ 46

RELATED PARTY TRANSACTIONS RE_2

RELATED PARTY TRANSACTIONS RELATED PARTY TRANSACTIONS - Related Party Balances included within Consolidated Financial Statements (Details) - Other related parties [member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of transactions between related parties [line items]
Management fees received	$ 31	$ 97
Management fees received	$ 31	$ 97

OTHER INFORMATION - Narrative (

OTHER INFORMATION - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2015
Disclosure of other information [Line Items]
Interest costs capitalised	$ 310	$ 233
Contractual capital commitments	4,100	4,100
Insurance for Damage and Business Interruption Costs	4,000
Subsidiary preferred equity units	1,679	$ 1,650
Brookfield Property Partners L.P. (“BPY”)
Disclosure of other information [Line Items]
Subsidiary preferred equity units	$ 1,800		$ 1,800
Exchangeable price of BPY preferred units issued to QIA	$ 25.70	$ 25.70
Preferred Units, Conversion Condition, Limit Of Market Price To Exchange Price At Maturity, Percent	80.00%
2021 \| Brookfield Property Partners L.P. (“BPY”)
Disclosure of other information [Line Items]
Subsidiary preferred equity units	$ 600		$ 600

SUBSEQUENT EVENTS - Narrative (

SUBSEQUENT EVENTS - Narrative (Details) $ / shares in Units, shares in Thousands	1 Months Ended	12 Months Ended
	Feb. 28, 2021USD ($)$ / sharesshares	Dec. 31, 2020	Jan. 04, 2021USD ($)$ / shares	Dec. 31, 2019
Disclosure of non-adjusting events after reporting period [line items]
Class A exchangeable subordinate voting shares of BEPC \| shares	15,000
BEPC share price (dollars per share)	$ 51.50
Proceeds from secondary offering \| $	$ 750,000,000
Brookfield Class A Shares [Member]
Disclosure of non-adjusting events after reporting period [line items]
Ratio of shares electable to receive per unit		0.40
Brookfield Class A Shares with liquidity option
Disclosure of non-adjusting events after reporting period [line items]
Ratio of shares electable to receive per unit		0.66
Brookfield Property Partners L.P. (“BPY”)
Disclosure of non-adjusting events after reporting period [line items]
Ownership Interest Held by Non-Controlling Interest		38.30%	100.00%	44.80%
Share price on date of acquisition (dollars per unit)			$ 16.50
total value on share acquisition \| $			$ 5,900,000,000
Share price on date of acquisition, liquidation preference (dollars per unit)			$ 25

Uncategorized Items - bam-20201

Label	Element	Value
Maximum [Member]
Target return	bam_TargetReturn	15.00%
Minimum [Member]
Target return	bam_TargetReturn	12.00%
Bridges, Roads and Equipment [Member] \| Maximum [Member] \| Infrastructure [Member]
Useful life measured as period of time, property, plant and equipment	ifrs-full_UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment	30 years
Bridges, Roads and Equipment [Member] \| Minimum [Member] \| Infrastructure [Member]
Useful life measured as period of time, property, plant and equipment	ifrs-full_UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment	3 years