Company: BPYPN
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001545772-25-000008
Chunk: 280

Company: Brookfield Property Partners L.P.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 19
Chunk 280
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      3.3% - 4.1%      Mar. 2025 - Mar. 2028      19                     

(1) The notional contract amounts of interest rate caps not designated as hedges for accounting purposes indicate the notional value of transactions outstanding at the balance sheet date including both bought and sold interest rate caps. They do not represent amounts at risk.

b) Measurement and classification of financial instruments

Fair value is the amount that willing parties would accept to exchange a financial instrument based on the current market for instruments with the same risk, principal and remaining maturity. The fair value of interest bearing financial assets and liabilities is determined by discounting the contractual principal and interest payments at estimated current market interest rates for the instrument. Current market rates are determined by reference to current benchmark rates for a similar term and current credit spreads for debt with similar terms and risk.

- F-50 -

Classification and Measurement

The following table outlines the classification and measurement basis, and related fair value for disclosures, of the financial assets and liabilities in the consolidated financial statements:

                                                                                        Dec. 31, 2024                 Dec. 31, 2023                                     
  (US$ Millions)                              Classification and measurement basis           Carrying       Fair           Carrying                   Fair              
                                                                                                value      value              value                  value              
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Financial assets                                                                                                                                                      
  Loans and notes receivable                  Amortized cost                                      924        924                          1,792                  1,792  
  Other non-current assets                                                                                                                                              
  Securities - FVTPL                          FVTPL                                                                                       3,240                  3,240  
  Derivative assets                           FVTOCI/FVTPL                                        100        100                192                    192              
  Accounts receivable                         Amortized cost                                        9          9                 43                     43              
  Securities - FVTOCI                         FVTOCI                                               27         27                 61                     61              
  Other marketable securities                 Amortized cost                                       28         28                 28                     28              
  Restricted cash                             Amortized cost                                      378        378                581                    581              
  Current assets                                                                                                                                                        
  Loans in foreclosure (1)                    FVTPL                                                 —          —                622                    622              
  Securities - FVTOCI                         FVTOCI