Company: BPYPN
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001545772-25-000008
Chunk: 268

Company: Brookfield Property Partners L.P.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 19
Chunk 268
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 includes $ 466 474 25.00

Capital securities also includes $ 158 145

Capital securities also includes $ 1,392 729 six months 90

- F-37 -

Capital Securities - Fund Subsidiaries of $ 139 189

Reconciliation of cash flows from financing activities relating to capital securities is shown in the table below:

  (US$ Millions)                                        Year ended Dec. 31, 2024                 Year ended Dec. 31, 2023             
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Balance, beginning of period                          $                             2,835      $                             2,833  
  Capital securities issued                             366                                      277                                  
  Capital securities redeemed                           ( 14)                                    ( 16)                                
  Non-cash changes in capital securities:                                                                                             
  Class A Preferred Units, Series 2 redemption (1)      ( 600)                                   —                                    
  Acquisition of Foreign Investments (2)                —                                        130                                  
  Fair value changes                                    361                                      ( 386)                               
  Foreign currency translations                         ( 21)                                    ( 3)                                 
  Deconsolidation of BSREP IV and other (2)             ( 98)                                    —                                    
  Balance, end of period                                $                             2,829      $                             2,835  

(1) On December 31, 2024, Brookfield acquired the ten

(2) See Note 31, Related Parties for further information on the Acquisition of Foreign Investments and Deconsolidation of BSREP IV investments.

Capital securities includes $ 15 22 21 28

NOTE 15. INCOME TAXES

The partnership is a flow-through entity for tax purposes. However, income taxes are recognized for the amount of taxes payable by the primary holding subsidiaries of the partnership (“ Holding Entities”), any direct or indirect corporate subsidiaries of the Holding Entities and for the impact of deferred tax assets and liabilities related to such entities.

The components of net deferred tax liability are presented as follows:

  (US$ Millions)                            Dec. 31, 2024                    Dec. 31, 2023                
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────
  Deferred income tax assets:                                                                             
  Non-capital losses (Canada)                           $           172                  $           174  
  Capital losses (Canada)                               —