Company: BPYPN
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001545772-25-000008
Chunk: 93

Company: Brookfield Property Partners L.P.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 5
Chunk 93
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                                                                 $         (57)          $       (98)          $        288  

(1) Depreciation and amortization are included in direct commercial property expense and direct hospitality expense on the income statement.

Reconciliation of Non-IFRS Accounting Standards Measures - Corporate

The following table reconciles Corporate net (loss) income to net loss attributable to Unitholders for the years ended December 31, 2024, 2023, and 2022:

  (US$ Millions) Years ended Dec. 31,                              2024                 2023                  2022             
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Net (loss)                                                       $         (681)      $          (465)      $         (375)  
  Net (loss) income attributable to non-controlling interests      46                   (168)                 (25)             
  Net loss attributable to Unitholders                             $         (727)      $          (297)      $         (350)  

The following table reconciles Corporate net loss to FFO for the years ended December 31, 2024, 2023, and 2022:

  (US$ Millions) Years ended Dec. 31,           2024                  2023                  2022              
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Net (loss)                                    $          (681)      $          (465)      $          (375)  
  Add (deduct):                                                                                               
  Fair value (gains), net                       31                    (21)                  (217)             
  Income tax (benefit) expense                  (101)                 (203)                 20                
  Non-controlling interests in above items      (92)                  (67)                  (81)              
  FFO                                           $          (843)      $          (756)      $          (653)  

5. B. LIQUIDITY AND CAPITAL RESOURCES

The capital of our business consists of debt obligations, capital securities, preferred stock and equity. Our objective when managing this capital is to maintain an appropriate balance between holding a sufficient amount of equity capital to support our operations and reducing our weighted average cost of capital to improve our return on equity. At December 31, 2024, capital totaled $92 billion compared to $120 billion at December 31, 2023. The decrease in capital compared to