Company: BBU
Filing Date: 2025-04-10
Form Type: 20-F
Source: 0001628280-25-017216
Chunk: 144

Company: Brookfield Business Partners L.P.
Filing Date: 2025-04-10
Form: 20-F
Item: Item 5
Chunk 144
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 December 31, 2023 compared to an impairment reversal of $9 million for the year ended December 31, 2022. The net impairment expense in 2023 related to an impairment of goodwill recognized within our healthcare services due to revised expectations of hospital admissions 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 increased by $4,658 million to a net gain of $4,686 million for the year ended December 31, 2023 compared to a net gain of $28 million for the year ended December 31, 2022. The increase was primarily driven by a $3,902 million gain on the disposition of our nuclear technology services operation and the partial disposition of our technology services operation.

Equity accounted Adjusted EBITDA increased by $28 million to $307 million for the year ended December 31, 2023 compared to $279 million for the year ended December 31, 2022. The increase in equity accounted Adjusted EBITDA was primarily due to higher contributions from our work access services and equity accounted investments within our offshore oil services.

Amounts attributable to non-controlling interests increased by $754 million to $4,917 million for the year ended December 31, 2023 compared to $4,163 million for the year ended December 31, 2022. The increase in amounts attributable to non-controlling interests is primarily due to earnings generated from our recent acquisitions that were acquired alongside institutional partners combined with non-controlling interest’s share of earnings from our other existing operations.

  Brookfield Business Partners      95  

The following table reconciles equity attributable to LP Units, GP Units, Redemption-Exchange Units, BBUC exchangeable shares and Special LP Units to equity attributable to Unitholders for the periods indicated.

                                                  Year ended December 31,                                  
  (US$ MILLIONS)                                  2024                                    2023             
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────
  Limited partners                                $                            1,752      $         1,909  
  General partner                                 —                                       —                
  Non-controlling interests attributable to:                                                               
  Redemption-exchange units                                                    1,644                1,792  
  Special LP Units                                —                                       —                
  BBUC exchangeable shares                                                     1,721                1,875  
  Equity attributable to