Company: BEP
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001533232-25-000006
Chunk: 309

Company: Brookfield Renewable Partners L.P.
Filing Date: 2025-02-28
Form: 20-F
Item: Item 5
Chunk 309
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 dollar.

Management service costs totaling $205 million represent a decrease of $38 million compared to prior year.

Interest expense totaling $1,627 million represents an increase of $403 million compared to prior year due to growth in our portfolio and upfinancings completed in the prior year at our North American and South American hydroelectric assets to fund the growth of our business.

Depreciation expense totaling $1,852 million represents an increase of $269 million compared to prior year due to the growth of our business.

Net income totaling $616 million represents an increase of $478 million compared to prior year due to the above noted items, other income relating to non-recurring items and a gain on sale of non-core wind assets.

PART 3 - ADDITIONAL CONSOLIDATED FINANCIAL INFORMATION

SUMMARY CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

The following table provides a summary of the key line items on the audited annual consolidated statements of financial position as atDecember 31:

  (MILLIONS)                                                     2024                             2023               
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Current assets                                                 $                     8,835      $           4,610  
  Equity-accounted investments                                                         2,740                  2,546  
  Property, plant and equipment, at fair value                                        73,475                 64,005  
  Assets held for sale                                                                 2,049      —                  
  Total assets                                                                        94,809                 76,128  
  Corporate borrowings                                                                 3,802                  2,833  
  Non-recourse borrowings                                                             30,588                 26,869  
  Deferred income tax liabilities                                                      8,439                  7,174  
  Liabilities directly associated with assets held for sale                            1,036      —                  
  Total liabilities and equity                                                        94,809                 76,128  
                                                                 FX rates to USD                                     
  C$                                                             1.44                             1.33               
  €                                                              0.97                             0.91               
  R$                                                             6.19                             4.84               
  COP                                                                                  4,409      3,822              

Property, plant and equipment

Property, plant and equipment totaled $73.5 billion as at December 31, 2024 compared to $64.0 billion as at December 31, 2023 representing an increase of $9.5 billion. Ac