Company: BBU
Filing Date: 2025-04-10
Form Type: 20-F
Source: 0001628280-25-017216
Chunk: 533

Company: Brookfield Business Partners L.P.
Filing Date: 2025-04-10
Form: 20-F
Item: Item 19
Chunk 533
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 arising from financing activities as at December 31, 2024 and 2023:

  (US$ MILLIONS)                                     2024                      2023                  
 ─────────────────────────────────────────────────────────────────────────────────────────────────────
  Balance at beginning of year                       $             42,249      $             46,693  
  Cash flows                                         687                       ( 897)                
  Non-cash changes:                                                                                  
  Acquisitions / (dispositions) of subsidiaries      ( 448)                    ( 4,278)              
  Foreign currency translation                       ( 2,194)                  541                   
  Fair value                                         —                         ( 261)                
  Held for sale                                      ( 1,349)                  —                     
  Other changes                                      ( 83)                     451                   
  Balance at end of year                             $             38,862      $             42,249  

NOTE 31. POST-EMPLOYMENT BENEFITS

The partnership maintains several defined benefit pension plans within its industrials and infrastructure services segments. These plans are administered in various countries, the most significant of which is in the United States. These benefits are provided through various financial institutions and the estimated net post-employment benefit costs are accrued during the employees’ credited service periods. The obligations under these defined benefit pension plans are determined periodically through the preparation of actuarial valuations.

The following table summarizes the present value of the defined benefit pension plan obligation and the fair values of plan assets as at December 31, 2024 and 2023:

  (US$ MILLIONS)                                 2024                    2023                
 ─────────────────────────────────────────────────────────────────────────────────────────────
  Fair value of plan assets at end of year       $              419      $              438  
  Defined benefit obligation at end of year      ( 592)                  ( 654)              
  Net liability at end of year (1)               $           ( 173)      $           ( 216)  

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(1) The net liabilities of$ 173(2023: $ 216) for the defined benefit pension plan, together with net liabilities for other post-employment benefits of$ 31(2023: $ 34) are recorded within Accounts payable and other, within the consolidated statements of financial position. See Note 16 for further information.

The defined benefit pension plans expose the partnership to certain actuarial risks such as investment risk, interest rate risk and