{"id":730031,"date":"2023-02-09T06:48:30","date_gmt":"2023-02-09T11:48:30","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/brookfield-corporation-announces-strong-2022-results\/"},"modified":"2023-02-09T06:48:30","modified_gmt":"2023-02-09T11:48:30","slug":"brookfield-corporation-announces-strong-2022-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/brookfield-corporation-announces-strong-2022-results\/","title":{"rendered":"Brookfield Corporation Announces Strong 2022 Results"},"content":{"rendered":"
\n

\n $15 billion of Capital Returned to Shareholders in 2022<\/strong>
\n \n <\/p>\n

\n Distributable Earnings of $5.2 billion and Net Income of $5.2 billion for the Year<\/strong>\n <\/p>\n

BROOKFIELD, NEWS, Feb. 09, 2023 (GLOBE NEWSWIRE) — Brookfield Corporation (NYSE: BN, TSX: BN) today announced financial results for the year ended December\u00a031, 2022.<\/p>\n

Nick Goodman, President of Brookfield Corporation, stated, \u201cFinancial results were very strong for the year. We generated $5.2\u00a0billion of distributable earnings and $5.2 billion of net income. Our results were\u00a0driven by growth in our asset management franchise, the continued ramp-up in earnings from our insurance solutions business, and the resilience of our inflation-protected and highly cash generative global portfolio of real assets. We ended the year with approximately $125\u00a0billion of deployable capital as we look for new investment opportunities to enhance returns and further diversify our business.\u201d<\/p>\n

He continued, \u201cWe successfully completed the distribution to shareholders and listing of a 25% interest in our asset management business in December 2022. This is a milestone in Brookfield\u2019s evolution and sets us up to execute on the next phase of growth, while adding approximately $40\u00a0billion of liquid assets to our investment portfolio.\u201d<\/p>\n

\n Operating Results <\/strong>\n <\/p>\n

Excluding the impact of realizations recorded in the prior year, distributable earnings increased by 24% compared to the prior year.<\/p>\n\n\n\n\n\n\n\n\n
\n Unaudited<\/em>
\n
\n For the periods ended December 31<\/em>
\n
\n (US$ millions, except per share amounts)<\/em>
\n \n <\/td>\n		\n Three Months Ended<\/em>\n <\/td>\n\u00a0<\/td>\n\n Years Ended<\/em>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n
\n 2022<\/em>
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\n 2021<\/em>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n
\n 2022<\/em>
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\n 2021<\/em>\n <\/td>\n<\/tr>\n
Net income1<\/sup><\/td>\n\n $<\/strong>\n <\/td>\n\n 44<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n3,461<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 5,195<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n12,388<\/td>\n<\/tr>\n
Operating funds from operations2,3<\/sup><\/td>\n\u00a0<\/td>\n\n 1,135<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,237<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 4,618<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,761<\/td>\n<\/tr>\n
Per Brookfield share2,3<\/sup><\/td>\n\u00a0<\/td>\n\n 0.68<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.74<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2.78<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.27<\/td>\n<\/tr>\n
Distributable earnings before realizations2,3<\/sup><\/td>\n\u00a0<\/td>\n\n 1,142<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,052<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 4,314<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,467<\/td>\n<\/tr>\n
Per Brookfield share2,3<\/sup><\/td>\n\u00a0<\/td>\n\n 0.71<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.64<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2.68<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.18<\/td>\n<\/tr>\n<\/table>\n
    \n
  1. Consolidated basis \u2013 includes amounts attributable to non-controlling interests.<\/li>\n
  2. Excludes amounts attributable to non-controlling interests.<\/li>\n
  3. See Reconciliation of Net Income to FFO, Distributable Earnings before realizations and Distributable Earnings on page 5 and Non-IFRS and Performance Measures section on page 9.<\/li>\n<\/ol>\n

    Our businesses continued to deliver very strong financial performance. Operating Funds from Operations (\u201cOperating FFO\u201d) was $4.6 billion for the year, representing growth of 23% compared to the prior year. Net income was $5.2 billion for the year. The comparative period net income included higher valuation and non-recurring disposition gains.<\/p>\n

    Distributable Earnings (\u201cDE\u201d) before realizations were $1.1 billion for the quarter and $4.3 billion for the year, an increase of 24% compared to last year. This was driven by strong contributions across the business. Our asset management franchise delivered growth of 26% compared to the prior year, insurance solutions continues to yield the benefits of re-deploying its highly liquid and short-duration portfolio into higher returning assets and the distributions from our operating businesses grew by 20% compared to the prior year. DE before realizations also benefited from acquisitions over the last year, including the acquisition of American National in May. Total DE for the quarter was $1.5 billion and $5.2 billion for the year.<\/p>\n

    \n Regular Dividend Declaration<\/strong>\n <\/p>\n

    The Board declared a quarterly dividend for the Corporation of $0.07 per share, payable on March 31, 2023 to shareholders of record as at the close of business on February 28, 2023.<\/p>\n

    Combined, Brookfield Corporation\u2019s quarterly dividend of $0.07 per share and Brookfield Asset Management Ltd.\u2019s (\u201cBAM\u201d) quarterly dividend of $0.32 per share (equivalent to $0.08 per Class A share held prior to the special distribution), would equate to $0.15 per Class A share held prior to the special distribution; representing a 7% increase compared to 2022.<\/p>\n

    The Board also declared the regular monthly and quarterly dividends on its preferred shares.<\/p>\n

    \n Operating Highlights<\/strong>\n <\/p>\n

    \n DE before realizations was $1.1 billion for the quarter and $4.3 billion for the ye<\/em>
    \n ar, representing an increase of <\/em>
    \n 24%<\/em>
    \n over the prior year. Total DE for the q<\/em>
    \n uarter was $1.5 billion and $5.2\u00a0billion for the year.<\/em>\n <\/p>\n

    Our asset management<\/strong> business generated fee-related earnings of $576\u00a0million in the quarter and $2.1\u00a0billion for the year with inflows of $14\u00a0billion and $93 billion during the quarter and full year, respectively. Fee-bearing capital was $418\u00a0billion at the end of the year, an increase of approximately $11\u00a0billion during the quarter and $54 billion or 15% over the prior year. The increase in fee-bearing capital contributed to a 26% increase in fee-related earnings, when excluding performance fees, compared to last year. With a number of tailwinds accelerating for our highly differentiated asset management business, we are set to continue to deliver strong earnings growth in 2023 and beyond.<\/p>\n

    Our insurance solutions<\/strong> business generated distributable earnings of $170\u00a0million in the quarter and $388\u00a0million for the full year with the growth in earnings providing a natural interest rate hedge to our broader business. During the quarter, we re-deployed $2\u00a0billion of highly liquid and short-duration investments into higher yielding assets, increasing annualized DE to $650 million today.<\/p>\n

    Distributions from our operating businesses<\/strong> were $624\u00a0million for the quarter and $2.6 billion for the year, representing an increase of 20% compared to last year. Our operating businesses continue to demonstrate their resilience with strong cash generation. The essential nature of many of the businesses and assets that we own, the inflation linkage in their revenues, and the high cash margins they generate are proving to be differentiators in this environment, as supported by the 23% growth in Operating FFO compared to the prior year.<\/p>\n

    \n We invested and\/or committed $81\u00a0billion of capital to new investments during the year and advanced monetizations on numerous mature assets. <\/em>\n <\/p>\n

    We continue to acquire high-quality businesses and assets during the quarter, including $2.5\u00a0billion to acquire a global leader in third-party audience measurement and $3.1\u00a0billion for a portfolio of luxury hotels in the U.S. at a deep discount to intrinsic value.<\/p>\n

    Our monetization pipeline across our businesses remains strong. We recently sold a student housing business in the U.K. for $4.5\u00a0billion, a portfolio of telecom towers in New Zealand for $1.1\u00a0billion and several electricity transmission lines in Brazil for $0.8\u00a0billion, with numerous other sales processes in progress. Additionally, we generated disposition gains of $360\u00a0million from the sale of principal investments during the year.<\/p>\n

    \n We ended the year with approximately $125 billion of capital available to deploy into new investments. <\/em>\n <\/p>\n

    We have significant group-wide liquidity with approximately $37 billion of cash, financial assets and undrawn credit lines at the Corporation and our affiliates, and $87 billion of uncalled fund commitments.<\/p>\n

    We continue to have strong access to capital, and in December completed a C$1 billion issuance of 10-year bonds at 5.43%. Also in December, we received a credit rating upgrade from Moody\u2019s on our senior unsecured debt to A3, reflecting the strengthening and resiliency of the inflation-linked cash flows generated across our business. With this rating upgrade, we now have an A- or equivalent rating on our unsecured senior debt from S&P, Fitch, Moody\u2019s and DBRS.<\/p>\n

    We have been actively repurchasing shares. In total, we returned approximately $15\u00a0billion of capital to shareholders, including $686\u00a0million of open market share repurchases, regular dividends and our special distribution of BAM shares. In addition, our balance sheet remains conservatively capitalized and we have no maturities until 2024.<\/p>\n

    \n CONSOLIDATED BALANCE SHEETS<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
    \n Unaudited<\/em>
    \n
    \n (US$ millions)<\/em>
    \n \n <\/td>\n    		\u00a0<\/td>\n\n
    \n December 31<\/em>
    \n <\/strong>\n <\/td>\n    		\u00a0<\/td>\n\n December 31<\/em>\n <\/td>\n<\/tr>\n
    \u00a0<\/td>\n\u00a0<\/td>\n\n
    \n 2022<\/em>
    \n <\/strong>\n <\/td>\n    		\u00a0<\/td>\n\u00a0<\/td>\n\n 2021<\/em>\n <\/td>\n<\/tr>\n
    \n Assets<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
    Cash and cash equivalents<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 14,396<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n12,694<\/td>\n<\/tr>\n
    Other financial assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 26,899<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n16,546<\/td>\n<\/tr>\n
    Accounts receivable and other<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 30,208<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n33,718<\/td>\n<\/tr>\n
    Inventory<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 12,843<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,415<\/td>\n<\/tr>\n
    Equity accounted investments<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 47,094<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n46,100<\/td>\n<\/tr>\n
    Investment properties<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 115,100<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n100,865<\/td>\n<\/tr>\n
    Property, plant and equipment<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 124,268<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n115,489<\/td>\n<\/tr>\n
    Intangible assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 38,411<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n30,609<\/td>\n<\/tr>\n
    Goodwill<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 28,662<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n20,227<\/td>\n<\/tr>\n
    Deferred income tax assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 3,403<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,340<\/td>\n<\/tr>\n
    \n Total Assets<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 441,284<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n391,003<\/td>\n<\/tr>\n
    \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
    \n Liabilities and Equity<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
    Corporate borrowings<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 11,390<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n10,875<\/td>\n<\/tr>\n
    \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
    Accounts payable and other<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 57,620<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n55,694<\/td>\n<\/tr>\n
    Non-recourse borrowings in entities that we manage<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 203,005<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n165,057<\/td>\n<\/tr>\n
    Subsidiary equity obligations<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 4,188<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,308<\/td>\n<\/tr>\n
    Deferred income tax liabilities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 23,190<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n20,328<\/td>\n<\/tr>\n
    \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
    Equity<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
    Non-controlling interests in net assets<\/td>\n\n $<\/strong>\n <\/td>\n\n 98,138<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n88,386<\/td>\n\u00a0<\/td>\n<\/tr>\n
    Preferred equity<\/td>\n\u00a0<\/td>\n\n 4,145<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,145<\/td>\n\u00a0<\/td>\n<\/tr>\n
    Common equity<\/td>\n\u00a0<\/td>\n\n 39,608<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 141,891<\/strong>\n <\/td>\n\u00a0<\/td>\n42,210<\/td>\n\u00a0<\/td>\n134,741<\/td>\n<\/tr>\n
    \n Total Liabilities and Equity<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 441,284<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n391,003<\/td>\n<\/tr>\n<\/table>\n

    \n CONSOLIDATED STATEMENTS OF OPERATIONS<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
    \n Unaudited<\/em>
    \n
    \n For the periods ended December 31<\/em>
    \n
    \n (US$ millions, except per share amounts)<\/em>
    \n \n <\/td>\n    		\n Three Months Ended<\/em>\n <\/td>\n\u00a0<\/td>\n\n Years Ended<\/em>\n <\/td>\n<\/tr>\n
    \u00a0<\/td>\n\n 2022<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2021<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2022<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2021<\/td>\n\u00a0<\/td>\n<\/tr>\n
    Revenues<\/td>\n\n $<\/strong>\n <\/td>\n\n 24,213<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n21,787<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 92,769<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n75,731<\/td>\n\u00a0<\/td>\n<\/tr>\n
    Direct costs1<\/sup><\/td>\n\u00a0<\/td>\n\n (18,218<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(16,631<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (70,828<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(57,563<\/td>\n)<\/td>\n<\/tr>\n
    Other income and gains<\/td>\n\u00a0<\/td>\n\n 989<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n21<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 1,594<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,099<\/td>\n\u00a0<\/td>\n<\/tr>\n
    Equity accounted income<\/td>\n\u00a0<\/td>\n\n 273<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n633<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2,613<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,451<\/td>\n\u00a0<\/td>\n<\/tr>\n
    Expenses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
    Interest<\/td>\n\u00a0<\/td>\n\n (3,285<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2,044<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (10,702<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(7,604<\/td>\n)<\/td>\n<\/tr>\n
    Corporate costs<\/td>\n\u00a0<\/td>\n\n (33<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(30<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (122<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(116<\/td>\n)<\/td>\n<\/tr>\n
    Fair value changes<\/td>\n\u00a0<\/td>\n\n (1,811<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,980<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (977<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,151<\/td>\n\u00a0<\/td>\n<\/tr>\n
    Depreciation and amortization<\/td>\n\u00a0<\/td>\n\n (1,989<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,739<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (7,683<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(6,437<\/td>\n)<\/td>\n<\/tr>\n
    Income tax<\/td>\n\u00a0<\/td>\n\n (95<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(516<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (1,469<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2,324<\/td>\n)<\/td>\n<\/tr>\n
    \n Net income<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 44<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n3,461<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 5,195<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n12,388<\/td>\n\u00a0<\/td>\n<\/tr>\n
    \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
    Net (loss) income attributable to:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
    Brookfield shareholders<\/td>\n\n $<\/strong>\n <\/td>\n\n (316<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n1,118<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 2,056<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n3,966<\/td>\n\u00a0<\/td>\n<\/tr>\n
    Non-controlling interests<\/td>\n\u00a0<\/td>\n\n 360<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,343<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 3,139<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,422<\/td>\n\u00a0<\/td>\n<\/tr>\n
    \u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 44<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n3,461<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 5,195<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n12,388<\/td>\n\u00a0<\/td>\n<\/tr>\n
    \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
    Net (loss) income per share<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
    Diluted<\/td>\n\n $<\/strong>\n <\/td>\n\n (0.23<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n0.66<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 1.19<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2.39<\/td>\n\u00a0<\/td>\n<\/tr>\n
    Basic<\/td>\n\u00a0<\/td>\n\n (0.23<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.69<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 1.22<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.47<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n
      \n
    1. Direct costs exclude depreciation and amortization expenses disclosed above.\n<\/li>\n<\/ol>\n

      \n SUMMARIZED FINANCIAL RESULTS<\/strong>\n <\/p>\n

      \n RECONCILIATION OF NET INCOME TO FFO AND DISTRIBUTABLE EARNINGS<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
      \n Unaudited<\/em>
      \n
      \n For the periods ended December 31<\/em>
      \n
      \n (US$ millions)<\/em>
      \n \n <\/td>\n      		\n Three Months Ended<\/em>\n <\/td>\n\u00a0<\/td>\n\n Years Ended<\/em>\n <\/td>\n<\/tr>\n
      \u00a0<\/td>\n\n 2022<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2021<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2022<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2021<\/td>\n\u00a0<\/td>\n<\/tr>\n
      Net income<\/td>\n\n $<\/strong>\n <\/td>\n\n 44<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n3,461<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 5,195<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n12,388<\/td>\n\u00a0<\/td>\n<\/tr>\n
      Financial statement components not included in FFO:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
      Equity accounted fair value changes and other non-FFO items1<\/sup><\/td>\n\u00a0<\/td>\n\n 938<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n432<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 1,840<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,355<\/td>\n\u00a0<\/td>\n<\/tr>\n
      Fair value changes<\/td>\n\u00a0<\/td>\n\n 1,811<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,980<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 977<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(5,151<\/td>\n)<\/td>\n<\/tr>\n
      Depreciation and amortization<\/td>\n\u00a0<\/td>\n\n 1,989<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,739<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 7,683<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,437<\/td>\n\u00a0<\/td>\n<\/tr>\n
      Deferred income taxes<\/td>\n\u00a0<\/td>\n\n (285<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n292<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 191<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,210<\/td>\n\u00a0<\/td>\n<\/tr>\n
      Realized disposition gains in fair value changes or prior periods<\/td>\n\u00a0<\/td>\n\n 213<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n394<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 903<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,861<\/td>\n\u00a0<\/td>\n<\/tr>\n
      Non-controlling interests in FFO2<\/sup><\/td>\n\u00a0<\/td>\n\n (2,878<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2,609<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (10,495<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(11,542<\/td>\n)<\/td>\n<\/tr>\n
      \n Funds from operations<\/strong>
      \n
      \n 3,4<\/strong>
      \n <\/sup>\n <\/td>\n      		\u00a0<\/td>\n\n 1,832<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,729<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 6,294<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,558<\/td>\n\u00a0<\/td>\n<\/tr>\n
      \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
      Less: total disposition gains<\/td>\n\u00a0<\/td>\n\n (417<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(351<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (1,121<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(3,082<\/td>\n)<\/td>\n<\/tr>\n
      Less: realized carried interest, net<\/td>\n\u00a0<\/td>\n\n (280<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(141<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (555<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(715<\/td>\n)<\/td>\n<\/tr>\n
      \n Operating Funds from operations<\/strong>
      \n
      \n 3,4<\/strong>
      \n <\/sup>\n <\/td>\n      		\u00a0<\/td>\n\n 1,135<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,237<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 4,618<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,761<\/td>\n\u00a0<\/td>\n<\/tr>\n
      \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
      Less: net invested capital FFO<\/td>\n\u00a0<\/td>\n\n (624<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(719<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (2,655<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,952<\/td>\n)<\/td>\n<\/tr>\n
      Less: asset management business FFO<\/td>\n\u00a0<\/td>\n\n (511<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(518<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (1,963<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,809<\/td>\n)<\/td>\n<\/tr>\n
      Corporate activities<\/td>\n\u00a0<\/td>\n\n (163<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(116<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (595<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(462<\/td>\n)<\/td>\n<\/tr>\n
      Insurance solutions operating earnings<\/td>\n\u00a0<\/td>\n\n 170<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n21<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 388<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n30<\/td>\n\u00a0<\/td>\n<\/tr>\n
      Distributions from investments<\/td>\n\u00a0<\/td>\n\n 624<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n637<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2,558<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,128<\/td>\n\u00a0<\/td>\n<\/tr>\n
      Distributions from asset management business<\/td>\n\u00a0<\/td>\n\n 534<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n539<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2,061<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,892<\/td>\n\u00a0<\/td>\n<\/tr>\n
      Equity-based compensation<\/td>\n\u00a0<\/td>\n\n 18<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 62<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n36<\/td>\n\u00a0<\/td>\n<\/tr>\n
      Preferred share dividends<\/td>\n\u00a0<\/td>\n\n (41<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(38<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (160<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(157<\/td>\n)<\/td>\n<\/tr>\n
      \n Distributable earnings before realizations<\/strong>
      \n
      \n 3<\/strong>
      \n <\/sup>\n <\/td>\n      		\u00a0<\/td>\n\n 1,142<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,052<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 4,314<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,467<\/td>\n\u00a0<\/td>\n<\/tr>\n
      Realized carried interest, net5<\/sup><\/td>\n\u00a0<\/td>\n\n 280<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n141<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 555<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n715<\/td>\n\u00a0<\/td>\n<\/tr>\n
      Disposition gains from principal investments<\/td>\n\u00a0<\/td>\n\n 76<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n108<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 360<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,100<\/td>\n\u00a0<\/td>\n<\/tr>\n
      \n Distributable earnings<\/strong>
      \n
      \n 3<\/strong>
      \n <\/sup>\n <\/td>\n      		\n $<\/strong>\n <\/td>\n\n 1,498<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,301<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 5,229<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n6,282<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n
        \n
      1. Other non-FFO items correspond to amounts that are not directly related to revenue earning activities and are not normal or recurring items necessary for business operations.<\/li>\n
      2. Amounts attributable to non-controlling interests are calculated based on the economic ownership interests held by non-controlling interests in consolidated subsidiaries. By adjusting FFO attributable to non-controlling interests, we are able to remove the portion of FFO earned at non-wholly owned subsidiaries that is not attributable to Brookfield.<\/li>\n
      3. Non-IFRS measure \u2013 see Non-IFRS and Performance Measures section on page 9.<\/li>\n
      4. Excludes amounts attributable to non-controlling interests.<\/li>\n
      5. Includes our share of Oaktree\u2019s distributable earnings attributable to realized carried interest.\n<\/li>\n<\/ol>\n

        \n SEGMENT OPERATING FUNDS FROM OPERATIONS<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
        \n Unaudited<\/em>
        \n
        \n For the periods ended December 31<\/em>
        \n
        \n (US$ millions)<\/em>
        \n \n <\/td>\n        		\n Three Months Ended<\/em>\n <\/td>\n\u00a0<\/td>\n\n Years Ended<\/em>\n <\/td>\n<\/tr>\n
        \u00a0<\/td>\n\n 2022<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2021<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2022<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2021<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Asset management<\/td>\n\n $<\/strong>\n <\/td>\n\n 511<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n518<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 1,963<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,809<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Renewable power and transition<\/td>\n\u00a0<\/td>\n\n 108<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n75<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 379<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n244<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Infrastructure<\/td>\n\u00a0<\/td>\n\n 135<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n120<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 501<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n426<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Private equity<\/td>\n\u00a0<\/td>\n\n 230<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n224<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 945<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n655<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Real estate<\/td>\n\u00a0<\/td>\n\n 179<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n421<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 953<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,004<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Corporate<\/td>\n\u00a0<\/td>\n\n (28<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(121<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (123<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(377<\/td>\n)<\/td>\n<\/tr>\n
        \n Operating funds from operations<\/strong>
        \n
        \n 1,2<\/strong>
        \n <\/sup>\n <\/td>\n        		\u00a0<\/td>\n\n 1,135<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,237<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 4,618<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,761<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Realized carried interest, net<\/td>\n\u00a0<\/td>\n\n 280<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n141<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 555<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n715<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Disposition gains<\/td>\n\u00a0<\/td>\n\n 417<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n351<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 1,121<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,082<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n Funds from operations<\/strong>
        \n
        \n 1,2<\/strong>
        \n <\/sup>\n <\/td>\n        		\n $<\/strong>\n <\/td>\n\n 1,832<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,729<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 6,294<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n7,558<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n Per share<\/strong>
        \n
        \n 3<\/strong>
        \n <\/sup>\n <\/td>\n        		\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Total Operating FFO<\/td>\n\n $<\/strong>\n <\/td>\n\n 0.68<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.74<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 2.78<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2.27<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Total FFO<\/td>\n\n $<\/strong>\n <\/td>\n\n 1.12<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1.04<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 3.82<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n4.67<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n
          \n
        1. Non-IFRS measure \u2013 see Non-IFRS and Performance Measures section on page 9.<\/li>\n
        2. Excludes amounts attributable to non-controlling interests.<\/li>\n
        3. Per share amounts are inclusive of dilutive effect of mandatorily redeemable preferred shares held in a consolidated subsidiary.\n<\/li>\n<\/ol>\n

          \n SEGMENT FUNDS FROM OPERATIONS<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
          \n Unaudited<\/em>
          \n
          \n For the periods ended December 31<\/em>
          \n
          \n (US$ millions)<\/em>
          \n \n <\/td>\n          		\n Three Months Ended<\/em>\n <\/td>\n\u00a0<\/td>\n\n Years Ended<\/em>\n <\/td>\n<\/tr>\n
          \u00a0<\/td>\n\n 2022<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2021<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2022<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2021<\/td>\n\u00a0<\/td>\n<\/tr>\n
          Asset management<\/td>\n\n $<\/strong>\n <\/td>\n\n 791<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n659<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 2,518<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,524<\/td>\n\u00a0<\/td>\n<\/tr>\n
          Renewable power and transition<\/td>\n\u00a0<\/td>\n\n 108<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n75<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 401<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,044<\/td>\n\u00a0<\/td>\n<\/tr>\n
          Infrastructure<\/td>\n\u00a0<\/td>\n\n 154<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n102<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 640<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n797<\/td>\n\u00a0<\/td>\n<\/tr>\n
          Private equity<\/td>\n\u00a0<\/td>\n\n 273<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n271<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 1,026<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,031<\/td>\n\u00a0<\/td>\n<\/tr>\n
          Real estate<\/td>\n\u00a0<\/td>\n\n 534<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n713<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 1,744<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,442<\/td>\n\u00a0<\/td>\n<\/tr>\n
          Corporate<\/td>\n\u00a0<\/td>\n\n (28<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(91<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (35<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(280<\/td>\n)<\/td>\n<\/tr>\n
          \n Funds from operations<\/strong>
          \n
          \n 1,2,3<\/strong>
          \n <\/sup>\n <\/td>\n          		\n $<\/strong>\n <\/td>\n\n 1,832<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,729<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 6,294<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n7,558<\/td>\n\u00a0<\/td>\n<\/tr>\n
          \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
          \n Per share<\/strong>
          \n
          \n 4<\/strong>
          \n <\/sup>\n <\/td>\n          		\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
          Total FFO<\/td>\n\n $<\/strong>\n <\/td>\n\n 1.12<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1.04<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 3.82<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n4.67<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n
            \n
          1. Non-IFRS measure \u2013 see Non-IFRS and Performance Measures section on page 9.<\/li>\n
          2. Excludes amounts attributable to non-controlling interests.<\/li>\n
          3. Includes disposition gains.<\/li>\n
          4. Per share amounts are inclusive of dilutive effect of mandatorily redeemable preferred shares held in a consolidated subsidiary.<\/li>\n<\/ol>\n

            \n
            \n
            EARNINGS PER SHARE<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
            \n Unaudited<\/em>
            \n
            \n For the periods ended December 31<\/em>
            \n
            \n (US$ millions)<\/em>
            \n \n <\/td>\n            		\n Three Months Ended<\/em>\n <\/td>\n\u00a0<\/td>\n\n Years Ended<\/em>\n <\/td>\n<\/tr>\n
            \u00a0<\/td>\n\n 2022<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2021<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2022<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2021<\/td>\n\u00a0<\/td>\n<\/tr>\n
            Net income<\/td>\n\n $<\/strong>\n <\/td>\n\n 44<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n3,461<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 5,195<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n12,388<\/td>\n\u00a0<\/td>\n<\/tr>\n
            Non-controlling interests<\/td>\n\u00a0<\/td>\n\n (360<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2,343<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (3,139<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(8,422<\/td>\n)<\/td>\n<\/tr>\n
            Net (loss) income attributable to shareholders<\/td>\n\u00a0<\/td>\n\n (316<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,118<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2,056<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,966<\/td>\n\u00a0<\/td>\n<\/tr>\n
            Preferred share dividends1<\/sup><\/td>\n\u00a0<\/td>\n\n (39<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(37<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (150<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(148<\/td>\n)<\/td>\n<\/tr>\n
            Dilutive effect of conversion of subsidiary preferred shares<\/td>\n\u00a0<\/td>\n\n \u2014<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u2014<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(26<\/td>\n)<\/td>\n<\/tr>\n
            Net (loss) income available to common shareholders<\/td>\n\u00a0<\/td>\n\n (355<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,081<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 1,906<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,792<\/td>\n\u00a0<\/td>\n<\/tr>\n
            Dilutive impact of exchangeable shares of affiliate<\/td>\n\u00a0<\/td>\n\n \u2014<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 5<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2<\/td>\n\u00a0<\/td>\n<\/tr>\n
            Net (loss) income available to common shareholders including dilutive impact of exchangeable shares<\/td>\n\n $<\/strong>\n <\/td>\n\n (355<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n1,082<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 1,911<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n3,794<\/td>\n\u00a0<\/td>\n<\/tr>\n
            \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
            Weighted average shares<\/td>\n\u00a0<\/td>\n\n 1,574.8<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,568.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 1,567.5<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,536.5<\/td>\n\u00a0<\/td>\n<\/tr>\n
            Dilutive effect of conversion of options and escrowed shares using treasury stock method2<\/sup> and exchangeable shares of affiliate<\/td>\n\u00a0<\/td>\n\n \u2014<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n62.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 40.7<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n50.4<\/td>\n\u00a0<\/td>\n<\/tr>\n
            Shares and share equivalents<\/td>\n\u00a0<\/td>\n\n 1,574.8<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,631.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 1,608.2<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,586.9<\/td>\n\u00a0<\/td>\n<\/tr>\n
            \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
            Diluted earnings per share3<\/sup><\/td>\n\n $<\/strong>\n <\/td>\n\n (0.23<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n0.66<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 1.19<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2.39<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n
              \n
            1. Excludes dividends paid on perpetual subordinated notes of $2\u00a0million (2021 \u2013 $1\u00a0million) and $10\u00a0million (2021 \u2013 $9\u00a0million) for the three months and year ended December 31, 2022, which are recognized within net income.<\/li>\n
            2. Includes management share option plan and escrowed stock plan.<\/li>\n
            3. Per share amounts are inclusive of dilutive effect of mandatorily redeemable preferred shares held in a consolidated subsidiary.\n<\/li>\n<\/ol>\n

              \n DISTRIBUTABLE EARNINGS<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
              \n Unaudited<\/em>
              \n
              \n For the periods ended December 31<\/em>
              \n
              \n (US$ millions)<\/em>
              \n \n <\/td>\n              		\n Three Months Ended<\/em>\n <\/td>\n\u00a0<\/td>\n\n Years Ended<\/em>\n <\/td>\n<\/tr>\n
              \u00a0<\/td>\n\n 2022<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2021<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2022<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2021<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Distributions from asset management business<\/td>\n\n $<\/strong>\n <\/td>\n\n 534<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n539<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 2,061<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,892<\/td>\n\u00a0<\/td>\n<\/tr>\n
              \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Insurance solutions operating earnings<\/td>\n\u00a0<\/td>\n\n 170<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n21<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 388<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n30<\/td>\n\u00a0<\/td>\n<\/tr>\n
              \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Perpetual affiliates<\/td>\n\u00a0<\/td>\n\n 619<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n665<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2,434<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,127<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Corporate cash and financial assets<\/td>\n\u00a0<\/td>\n\n (6<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(22<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 77<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n42<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Other principal investments<\/td>\n\u00a0<\/td>\n\n 11<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(6<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 47<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(41<\/td>\n)<\/td>\n<\/tr>\n
              Distributions from investments<\/td>\n\u00a0<\/td>\n\n 624<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n637<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2,558<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,128<\/td>\n\u00a0<\/td>\n<\/tr>\n
              \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Corporate activities<\/td>\n\u00a0<\/td>\n\n (163<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(116<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (595<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(462<\/td>\n)<\/td>\n<\/tr>\n
              Preferred share dividends<\/td>\n\u00a0<\/td>\n\n (41<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(38<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (160<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(157<\/td>\n)<\/td>\n<\/tr>\n
              Add back: equity-based compensation costs<\/td>\n\u00a0<\/td>\n\n 18<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 62<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n36<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Distributable earnings before realizations<\/td>\n\u00a0<\/td>\n\n 1,142<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,052<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 4,314<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,467<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Realized carried interest, net<\/td>\n\u00a0<\/td>\n\n 280<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n141<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 555<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n715<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Disposition gains from principal investments<\/td>\n\u00a0<\/td>\n\n 76<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n108<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 360<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,100<\/td>\n\u00a0<\/td>\n<\/tr>\n
              Distributable earnings1<\/sup><\/td>\n\n $<\/strong>\n <\/td>\n\n 1,498<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,301<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 5,229<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n6,282<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n
                \n
              1. Non-IFRS measure \u2013 see Non-IFRS and Performance Measures section on page 9.<\/li>\n<\/ol>\n

                \n
                \n
                Additional Information<\/strong>\n <\/p>\n

                The Letter to Shareholders and the company\u2019s Supplemental Information for the three months and year ended December\u00a031, 2022, contain further information on the company\u2019s strategy, operations and financial results. Shareholders are encouraged to read these documents, which are available on the company\u2019s website.<\/p>\n

                The statements contained herein are based primarily on information that has been extracted from our financial statements for the quarter and year ended December\u00a031, 2022, which have been prepared using IFRS, as issued by the IASB. The amounts have not been audited by Brookfield Corporation\u2019s external auditor.<\/p>\n

                Brookfield Corporation\u2019s Board of Directors have reviewed and approved this document, including the summarized unaudited consolidated financial statements prior to its release.<\/p>\n

                Information on our dividends can be found on our website under Stock & Distributions\/Distribution History.<\/p>\n

                \n Quarterly Earnings Call Details <\/strong>\n <\/p>\n

                Investors, analysts and other interested parties can access Brookfield Corporation\u2019s 2022 Year End Results as well as the Shareholders\u2019 Letter and Supplemental Information on Brookfield Corporation\u2019s website under the Reports & Filings section at www.bn.brookfield.com<\/u>.<\/p>\n

                To participate in the Conference Call today at 10:00 a.m. EST, please pre-register at https:\/\/register.vevent.com\/register\/BI10eaa1188b6d47ee8623456993378c04. Upon registering, you will be emailed a dial-in number, and unique PIN. The Conference Call will also be Webcast live at https:\/\/edge.media-server.com\/mmc\/go\/bnQ4-2022. For those unable to participate in the Conference Call, the telephone replay will be archived and available until February 23, 2023. To access this rebroadcast, please visit:
                https:\/\/register.vevent.com\/register\/BI10eaa1188b6d47ee8623456993378c04.\u00a0<\/p>\n

                \n About Brookfield Corporation<\/strong>
                \n
                Brookfield Corporation (NYSE\/TSX: BN) is focused on deploying its capital on a value basis and compounding it over the long term. This capital is allocated across its three core pillars of asset management, insurance solutions and its operating businesses. Employing a disciplined investment approach, we leverage our deep expertise as an owner and operator of real assets, as well as the scale and flexibility of our capital, to create value and deliver strong risk-adjusted returns across market cycles. With significant capital underpinned by a conservatively capitalized balance sheet, Brookfield Corporation is well positioned to pursue significant opportunities for growth.<\/p>\n

                Please note that Brookfield Corporation\u2019s previous audited annual and unaudited quarterly reports have been filed on EDGAR and SEDAR and can also be found in the investor section of its website at www.bn.brookfield.com<\/u>. Hard copies of the annual and quarterly reports can be obtained free of charge upon request.<\/p>\n

                For more information, please visit our website at www.bn.brookfield.com<\/u> or contact:<\/p>\n\n\n
                \n Communications & Media:<\/strong>
                \n
                Sebastien Bouchard
                Tel: (416) 943-7937
                Email: sebastien.bouchard@brookfield.com<\/p>\n<\/td>\n                		\u00a0<\/td>\n\n Investor Relations: <\/strong>
                \n
                Linda Northwood
                Tel: (416) 359-8647
                Email: linda.northwood@brookfield.com<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

                \n Non-IFRS and Performance Measures<\/strong>\n <\/p>\n

                This news release and accompanying financial information are based on International Financial Reporting Standards (\u201cIFRS\u201d), as issued by the International Accounting Standards Board (\u201cIASB\u201d), unless otherwise noted.<\/p>\n

                We make reference to Funds from Operations (\u201cFFO\u201d)<\/em>. We define FFO as net income attributable to shareholders prior to fair value changes, depreciation and amortization, and deferred income taxes, and includes realized disposition gains that are not recorded in net income as determined under IFRS. FFO also includes the company\u2019s share of equity accounted investments\u2019 FFO on a fully diluted basis. FFO consists of the following components:<\/p>\n