DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2022

Financial Instruments [Abstract]

Disclosure of detailed information about hedging instruments

The following tables summarizes the aggregate notional amounts of the partnership’s derivative positions as at December 31, 2022 and 2021:

(US$ MILLIONS, except as noted)	2022		2021
Foreign exchange contracts	$	8,332	$	12,591
Cross currency swaps	726		271
Interest rate derivatives	7,592		14,686
Equity derivatives	17		69
	$	16,667	$	27,617

Commodity instruments	2022	2021
Oil based fuel (Cbm - millions)	14.02	17.11
Natural gas (Mcf - millions)	65.38	90.37
Lead (metric tons)	71,883	69,427
Tin (metric tons)	2,540	2,454
Polypropylene (metric tons)	28,078	24,129

The following table presents the notional amounts underlying the partnership’s derivative instruments by term to maturity as at December 31, 2022 and the comparative notional amounts as at December 31, 2021, for both derivatives that are classified as FVTPL and derivatives that qualify for hedge accounting:

	2022								2021
(US$ MILLIONS)	< 1 Year		1-5 Years		5+ Years		Total notional amount		Total notional amount
Fair value through profit or loss
Foreign exchange contracts	$	3,236	$	305	$	118	$	3,659	$	5,759
Cross currency swaps	20		100		109		229		271
Interest rate derivatives	—		7		—		7		6,094
Equity derivatives	8		5		4		17		69
Designated for hedge accounting
Foreign exchange contracts	855		3,818		—		4,673		6,832
Cross currency swaps	—		497		—		497		—
Interest rate derivatives	—		7,585		—		7,585		8,592
	$	4,119	$	12,317	$	231	$	16,667	$	27,617

Disclosure of information about terms and conditions of hedging instruments

The following table presents the notional amounts and average exchange rates for foreign exchange contracts held by the partnership as at December 31, 2022 and 2021. The notional amounts as at December 31, 2022 and 2021 include both buy and sell contracts.

	Notional amount				Average exchange rate
(US$ MILLIONS, except as noted)	2022		2021		2022	2021
Foreign exchange contracts
Australian dollars	$	1,115	$	963	1.48	1.40
Brazilian real	637		473		6.29	5.73
British pounds	576		1,129		0.85	0.75
Canadian dollars	1,683		2,916		1.35	1.26
Euros	2,209		3,847		0.94	0.87
Indian rupees	372		465		84.82	78.30
Swedish krona	1,086		1,475		9.78	9.08
U.S dollars	392		657		1.00	1.00
Other	262		666
	$	8,332	$	12,591