Company: BBU
Filing Date: 2025-04-10
Form Type: 20-F
Source: 0001628280-25-017216
Chunk: 121

Company: Brookfield Business Partners L.P.
Filing Date: 2025-04-10
Form: 20-F
Item: Item 5
Chunk 121
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 72         142                   71         67         107    
                                                                      $          $          $          $          $          $          $      
  Basic and diluted earnings (loss) per limited partner unit (1)      $          $          $          $          $          $          $      

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(1) Average number of LP Units outstanding for the three months ended December 31, 2024 was 74.3 million (December 31, 2023: 74.3 million).

Revenues and direct operating costs vary from quarter to quarter primarily due to acquisitions and dispositions of businesses, fluctuations in foreign exchange rates, business and economic cycles, weather and seasonality, broader economic factors, and commodity market volatility. Within our industrials segment, at our advanced energy storage operation, the demand for batteries in the aftermarket is typically higher in the colder seasons, and in our natural gas production, the ability to move heavy equipment safely and efficiently in Western Canadian oil and gas fields is dependent on weather conditions. Within our infrastructure services segment, our work access services operation is impacted by seasonality in the industries it services; for example, most refineries tend to close down for turnarounds during the spring and fall. In addition, cold temperatures in the first and fourth fiscal quarters typically limit activity on maintenance and capital projects in cold climates. In our modular building leasing services, business activity peaks in the summer months while the fourth fiscal quarter is a seasonal low as deliveries typically reduce in the winter. Some of our business services activities are seasonal in nature and are affected by the general level of economic activity and related volume of services purchased by our clients. The mortgage insurance premiums underwritten at our residential mortgage insurer fluctuate based on the general seasonality and macroeconomic conditions affecting the Canadian housing market. Net income is impacted by periodic monetization gains and impairment losses.

  80      Brookfield Business Partners  

Review of Consolidated Financial Position

The following is a summary of the consolidated statements of financial position as at December 31, 2024 and December 31, 2023:

                                                                                                                                        Change                                               
  (US$ MILLIONS)                                                  December 31, 2024                  December 31, 2023                  December 31, 2024 vs December 31, 2023               
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Assets                                                                                                                                                                                     
  Cash and cash equivalents                                       $                       3,239