Company: BBU
Filing Date: 2025-04-10
Form Type: 20-F
Source: 0001628280-25-017216
Chunk: 450

Company: Brookfield Business Partners L.P.
Filing Date: 2025-04-10
Form: 20-F
Item: Item 19
Chunk 450
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ee when it is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee.

  F-14      Brookfield Business Partners  

Table of Contents

BROOKFIELD BUSINESS PARTNERS L. P.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

As at December 31, 2024 and 2023 and for the years ended December 31, 2024, 2023 and 2022

Non-controlling interests may be initially measured either at fair value or at the non-controlling interests’ proportionate share of the fair value of the acquiree’s identifiable net assets. The choice of measurement basis is made on an acquisition by acquisition basis. Subsequent to acquisition, the carrying amount of non-controlling interests is the amount of those interests at initial recognition plus the non-controlling interests’ share of subsequent changes in capital in addition to changes in ownership interests. Total comprehensive income (loss) is attributed to non-controlling interests, even if this results in the non-controlling interests having a deficit balance.

All intercompany balances, transactions, revenues and expenses are eliminated in full.

The following table presents details of wholly-owned subsidiaries of the partnership as of December 31, 2024 and 2023:

  Business type               Name of entity                Country of incorporation      Voting interest                Economic interest            
                                                                                                     2024      2023                   2024      2023  
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Business services                                                                                                                                   
  Construction operation      Multiplex Global Limited      United Kingdom                            100       100                    100       100  

The following table presents details of material non-wholly owned subsidiaries of the partnership as of December 31, 2024 and 2023:

  Business type                                          Name of entity                               Country of incorporation      Voting interest                Economic interest            
                                                                                                                                               2024      2023                   2024      2023  
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Business services                                                                                                                                                                             
  Healthcare services                                    Healthscope Pty Ltd                          Australia                                 100       100                     28        28  
  Fleet management and car rental services               Unidas Locadora S. A.                        Brazil                                    100       100                     35