Company: BBU
Filing Date: 2025-04-10
Form Type: 20-F
Source: 0001628280-25-017216
Chunk: 116

Company: Brookfield Business Partners L.P.
Filing Date: 2025-04-10
Form: 20-F
Item: Item 5
Chunk 116
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, is a duty payable to the government of the United Kingdom of $4,705 million (2023: $8,033 million), which is recorded gross within revenues and direct costs without impact on the margin generated by the business.

General and administrative expenses

For the year ended December 31, 2024, general and administrative expenses decreased by $271 million to $1,267 million, compared to $1,538 million for the year ended December 31, 2023. The decrease was primarily due to the dispositions of our road fuels operation in July 2024 and our nuclear technology services operation in November 2023, combined with the impact of other business dispositions completed over the last twelve months.

Interest income (expense), net

For the year ended December 31, 2024, net interest expense decreased by $492 million to $3,104 million, compared to $3,596 million for the year ended December 31, 2023. The decrease was primarily due to reduced borrowings within our operations as a result of dispositions and the impact of refinancings which lowered the cost of debt at select operations.

Impairment reversal (expense), net

For the year ended December 31, 2024, net impairment expense of $981 million primarily relates to an impairment of goodwill of $661 million recognized in our healthcare services due to revised expectations of cash flows as a result of updated estimates for hospital admissions, revenue rates and operating costs and impairment of $168 million recognized on property, plant and equipment at our natural gas production as a result of a decline in forecast natural gas prices.

Gain (loss) on acquisitions/dispositions, net

For the year ended December 31, 2024, gain (loss) on acquisitions/dispositions, net was $692 million. The net gain includes a $483 million gain recognized from the disposition of our road fuels operation, a $110 million gain recognized from the deconsolidation of our payment processing services operation, an $84 million gain recognized on the sale of our Canadian aggregates production operation and a $15 million gain recognized from the disposition of our general partner interest and residential real estate brokerage portfolio to Bridgemarq, a publicly listed real estate services operation and brokerage business.

  Brookfield Business Partners      77  

Other income (expense), net

For the year ended December 31, 2024, net other expense increased by $395 million to $573 million, compared to $178 million for the year ended December 31