Company: BBU
Filing Date: 2025-04-10
Form Type: 20-F
Source: 0001628280-25-017216
Chunk: 123

Company: Brookfield Business Partners L.P.
Filing Date: 2025-04-10
Form: 20-F
Item: Item 5
Chunk 123
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641 million, dispositions of $1,457 million, the classification of $1,525 million of PP& E to assets held for sale within our offshore oil services, the impact of foreign exchange movements of $991 million and an impairment of $168 million recorded at our natural gas production operation. These factors were partially offset by additions to PP& E of $3,290 million, primarily due to growth capital expenditures within our offshore oil services which are contractually reimbursed. As at December 31, 2024, PP& E included $874 million of right-of-use assets (2023: $1,296 million).

Intangible assets decreased by $2,529 million to $18,317 million as at December 31, 2024, compared to $20,846 million as at December 31, 2023. The decrease was primarily due to amortization expense of $1,590 million, combined with the impact of foreign exchange movements of $1,026 million and dispositions of $307 million, partially offset by additions of $394 million.

Capital expenditures represent additions to PP& E and certain intangible assets. Included in capital expenditures are maintenance capital expenditures, which are required to sustain the current performance of our operations, and growth capital expenditures, which are made for incrementally new assets that are expected to expand existing operations. Within our business services segment, capital expenditures were primarily related to maintenance and improvements on hospital facilities and new hospital equipment at our healthcare services, production costs associated with developing or enhancing proprietary technology as well as maintenance of computer and hosting equipment at our dealer software and technology services operation and maintenance and expansion of the fleet at our fleet management and car rental services operation. Within our infrastructure services segment, capital expenditures were primarily vessel dry-docking costs at our offshore oil services which are contractually reimbursed by our customer and fleet investment at our modular building leasing services. Within our industrials segment, capital expenditures were primarily related to expansions and equipment replacement at our advanced energy storage operation. We also include additions to intangible assets in our water and wastewater operation within capital expenditures due to the nature of its concession agreements. Maintenance and growth capital expenditures for the year ended December 31, 2024 were $853 million and $1,886 million, respectively (2023: $833 million and $2,100 million, 2022: $816 million and $1,100 million). Growth capital expenditures include fleet expansion capital expenditures at our fleet management and car rental services presented as cash used in operating activities in