Company: BBU
Filing Date: 2025-04-10
Form Type: 20-F
Source: 0001628280-25-017216
Chunk: 119

Company: Brookfield Business Partners L.P.
Filing Date: 2025-04-10
Form: 20-F
Item: Item 5
Chunk 119
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 year, combined with higher battery volumes at our advanced energy storage operation due to growing demand for advanced batteries. As noted above, included in the revenues and direct operating costs at our road fuels operation is duty payable to the government of the United Kingdom of $8,033 million (2022: $8,129 million).

  78      Brookfield Business Partners  

General and administrative expenses

For the year endedDecember 31, 2023, general and administrative expenses increased by$178 million to$1,538 million, compared to$1,360 million for the year endedDecember 31, 2022. The increase in general and administrative expenses was primarily due to contributions from recently completed add-on acquisitions combined with a full period of contributions from our acquisitions completed in the prior year.

Interest income (expense), net

For the year ended December 31, 2023, net interest expense increased by $1,058 million to $3,596 million, compared to $2,538 million for the year ended December 31, 2022. The increase in net interest expense was primarily due to higher borrowings associated with recent acquisitions, including add-on acquisitions completed within our operations and the impact of higher interest rates.

Impairment reversal (expense), net

For the year endedDecember 31, 2023, net impairment expense was$831 million primarily relates to an impairment of goodwill recognized in our healthcare services due to revised expectations of hospital admissions and operating costs and an impairment 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 endedDecember 31, 2023, net gain (loss) on acquisitions/dispositions was$4,686 million. The net gain primarily relates to a $3,902 million gain recognized on the disposition of our nuclear technology service operation and a $524 million gain recognized on the partial disposition of our technology services operation.

Other income (expense), net

For the year endedDecember 31, 2023, other expense, net decreased by$480 million to$178 million, compared to $658 million for the year endedDecember 31, 2022. Other income (expense), net corresponds to amounts that are not directly related to revenue generating activities and are not normal, recurring income or expenses necessary for business operations. For the year endedDecember 31, 2023, the components of other income (expense), net include a $247 million loss