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SEGMENTED INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2021
Disclosure of operating segments [abstract]  
Disclosure of entity's operating segments Reportable Segment Measures
AS AT AND FOR THE YEAR ENDED DEC. 31, 2021 (MILLIONS)Asset
Management		Corporate
Activities		Renewable
Power and Transition		InfrastructurePrivate
Equity		Real EstateResidential
Development		Total
Segments		Note
External revenues$306 $169 $4,580 $11,941 $46,252 $9,923 $2,560 $75,731 
Inter-segment and other revenues1
4,930 (18)— 6 431 32 — 5,381 i
Segmented revenues5,236 151 4,580 11,947 46,683 9,955 2,560 81,112 
FFO from equity accounted investments1
558 63 187 1,697 448 742 111 3,806 ii
Interest expense— (414)(892)(1,502)(1,503)(3,225)(68)(7,604)iii
Current income taxes— (38)(43)(402)(537)(77)(17)(1,114)iv
FFO1
2,614 (370)1,044 797 2,030 1,185 258 7,558 v
Common equity4,905 (8,942)5,264 3,022 3,565 32,004 2,392 42,210 
Equity accounted investments
4,496 2,056 1,801 9,569 2,945 24,829 404 46,100 
Additions to non-current assets2
— 1,332 5,001 18,248 14,161 21,918 171 60,831 
1.We equity account for our investment in Oaktree and include our share of the FFO and FFO from equity accounted investments at 62%. However, for segment reporting, Oaktree’s revenue is shown on a 100% basis. For the year ended December 31, 2021, $2.3 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, 2020 (MILLIONS)Asset
Management		Corporate
Activities		Renewable
Power and Transition		InfrastructurePrivate
Equity		Real EstateResidential
Development		Total
Segments		Note
External revenues$246 $872 $4,085 $9,294 $37,161 $8,851 $2,243 $62,752 
Inter-segment and other revenues1
3,278 (1)— 7 614 32 — 3,930 i
Segmented revenues3,524 871 4,085 9,301 37,775 8,883 2,243 66,682 
FFO from equity accounted investments1
277 (17)116 1,329 600 765 21 3,091 ii
Interest expense— (388)(885)(1,224)(1,573)(3,117)(29)(7,216)iii
Current income taxes— (67)(66)(247)(286)(82)(8)(756)iv
FFO1
1,776 (86)1,044 569 935 876 66 5,180 v
Common equity4,947 (6,986)5,154 2,552 3,965 19,331 2,730 31,693 
Equity accounted investments
4,530 830 1,444 10,530 2,623 21,024 346 41,327 
Additions to non-current assets2
64 234 1,677 11,200 3,535 10,117 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 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.
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)20212020
Consolidated equity accounted income (loss)$2,451 $(79)
Non-FFO items from equity accounted investments1
1,355 3,170 
FFO from equity accounted investments$3,806 $3,091 
1.Adjustment to back out non-FFO expenses (income) that are included in consolidated equity accounted income including depreciation and amortization, deferred taxes and fair value changes from equity accounted investments.
Schedule of components of income tax expense The following table reconciles consolidated income taxes to current and deferred income taxes:
FOR THE YEARS ENDED DEC. 31 (MILLIONS)20212020
Current income tax expense$(1,114)$(756)
Deferred income tax expense(1,210)(81)
Income tax expense$(2,324)$(837)
The major components of income tax expense for the years ended December 31, 2021 and 2020 are set out below:
FOR THE YEARS ENDED DEC. 31 (MILLIONS)20212020
Current income tax expense$1,114 $756 
Deferred income tax expense / (recovery)
Origination and reversal of temporary differences1,044 (103)
(Recovery) / expense arising from previously unrecognized tax assets(251)2 
Change of tax rates and new legislation417 182 
Total deferred income tax expense1,210 81 
Income tax expense$2,324 $837 
Summary of reconciliation of FFO to net income
The following table reconciles net income to total FFO:
FOR THE YEARS ENDED DEC. 31 (MILLIONS)Note20212020
Net income$12,388 $707 
Financial statement components not included in FFO
Equity accounted fair value changes and other non-FFO items1,355 3,170 
Fair value changes(5,151)1,423 
Depreciation and amortization6,437 5,791 
Deferred income taxes1,210 81 
Realized disposition gains in fair value changes or equityvi2,861 1,554 
Non-controlling interests in FFO(11,542)(7,546)
Total FFO$7,558 $5,180 
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)20212020
U.S.$19,694 $18,048 
Canada7,548 5,906 
U.K.21,497 16,032 
Brazil3,730 3,323 
Europe8,491 6,191 
Australia5,892 5,528 
India2,520 1,284 
Colombia1,890 1,762 
Other Asia 2,708 2,388 
Other1,761 2,290 
$75,731 $62,752 
The company’s consolidated assets by location are as follows:
AS AT DEC. 31 (MILLIONS)20212020
U.S.$172,952 $159,684 
Canada52,989 36,403 
U.K.36,740 31,598 
Brazil22,052 20,675 
Europe32,065 22,267 
Australia20,767 22,000 
India20,935 21,438 
Colombia11,065 10,919 
Other Asia 12,866 9,343 
Other8,572 9,369 
$391,003 $343,696