Company: BEP
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001533232-25-000006
Chunk: 325

Company: Brookfield Renewable Partners L.P.
Filing Date: 2025-02-28
Form: 20-F
Item: Item 5
Chunk 325
---
       2,660  
  Hybrid note (2)                                      139            —                   139           —  
  Non-recourse borrowings (3)                          —              —                30,904      27,020  
                                                       3,147          2,660            34,051      29,680  
  Deferred income tax liabilities, net (4)             —              —                 8,109       6,930  
  Equity                                                                                                   
  Non-controlling interest                             —              —                26,168      18,863  
  Preferred equity                                     537            583                 537         583  
  Perpetual subordinated notes                         737            592                 737         592  
  Preferred limited partners’ equity                   634            760                 634         760  
  Unitholders’ equity                                  8,380          9,181             8,380       9,181  
  Total capitalization                                 $              $                     $           $  
  Debt-to-total capitalization                         23             19                   43          45  
  Debt-to-total capitalization (market value) (5)      15             12                   40          40  

(1) Draws on corporate credit facilities and commercial paper issuances are excluded from the debt-to-total capitalization ratios as they are not a permanent source of capital.

(2) Medium-term and Hybrid notes are unsecured and guaranteed by Brookfield Renewable and excludes $16 million (2023: $10 million) of deferred financing fees, net of unamortized premiums.

(3) Consolidated non-recourse borrowings include $1,494 million (2023: $2,626 million) borrowed under a subscription facility of a Brookfield sponsored private fund and excludes $171 million (2023: $140 million) of deferred financing fees and $145 million (2023: $11 million) of unamortized premiums.

(4) Deferred income tax liabilities less deferred income tax assets.

(5) Based on market values of Preferred equity, Perpetual subordinated notes, Preferred limited partners’ equity and Unitholders’ equity.

AVAILABLE LIQUIDITY

The following table summarizes the available liquidity as atDecember 31:

  (MILLIONS)                                                                       2024                  2023             
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Brookfield Renewable's share of cash