Company: BBU
Filing Date: 2025-04-10
Form Type: 20-F
Source: 0001628280-25-017216
Chunk: 142

Company: Brookfield Business Partners L.P.
Filing Date: 2025-04-10
Form: 20-F
Item: Item 5
Chunk 142
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 operation. The depreciation and amortization expense in our industrials segment is primarily related to the depreciation of PP& E and amortization of intangibles at our advanced energy storage operation and our engineered components manufacturing operation. Depreciation and amortization expense in our business services segment is primarily due to amortization of intangible assets in our dealer software and technology services operation. Depreciation and amortization expense is generally consistent period-over-period with large changes typically attributable to the addition or disposal of depreciable assets and the impact of foreign exchange movements.

Depreciation and amortization expense decreased by $388 million to $3,204 million for the year ended December 31, 2024 compared to $3,592 million for the year ended December 31, 2023. The decrease is primarily due to the disposition of our nuclear technology services operation in November 2023.

Impairment reversal (expense), net increased by $150 million to $981 million for the year ended December 31, 2024 compared to $831 million for the year ended December 31, 2023. The net impairment expense in the current year relates to an impairment of goodwill recognized within 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 an impairment of property, plant and equipment within our natural gas production due to a decline in forecast natural gas prices.

Gain (loss) on acquisitions/dispositions, net decreased by $3,994 million to a net gain of $692 million for the year ended December 31, 2024 compared to a net gain of $4,686 million for the year ended December 31, 2023. The decrease was primarily driven by a $3,902 million gain recognized in the prior period related to the disposition of our nuclear technology services operation.

  94      Brookfield Business Partners  

Income tax (expense) recovery, net was a net income tax recovery of $301 million for the year ended December 31, 2024 compared to $55 million for the year ended December 31, 2023. The increase in income tax recovery was primarily driven by an increase in deferred tax assets within our advanced energy storage operation due to tax benefits recorded during the year, combined with lower taxable income within our dealer software and technology services operation and lower income tax expense in our operations due to dispositions completed in the prior year.

Interest expense, net decreased by $492 million to $3,104 million for the year