Company: BPYPN
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001545772-25-000008
Chunk: 271

Company: Brookfield Property Partners L.P.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 19
Chunk 271
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able/exchangeable partnership units                             799                  781                  741              
  Special LP Units                                                      8                    8                    7                
  FV LTIP of the Operating Partnership                                  1                    2                    2                
  Total distributions                                                   $         1,260      $         1,231      $         1,169  
  Per unit (1)                                                          $          1.34      $          1.40      $          1.40  

(1) Per unit outstanding on the record date for each.

NOTE 19. NON-CONTROLLING INTERESTS

Non-controlling interests consists of the following:

  (US$ Millions)                                                          Dec. 31, 2024                  Dec. 31, 2023              
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Redeemable/Exchangeable Partnership Units and Special LP Units (1)      $                  13,795      $                  14,447  
  FV LTIP units of the Operating Partnership (1)                          12                             21                         
  Interest of others in operating subsidiaries and properties:                                                                      
  Preferred shares held by Brookfield Corporation (2)                                         2,809                          2,708  
  Preferred equity of subsidiaries                                                            2,758                          4,314  
  Non-controlling interests in subsidiaries and properties                                   10,455                         18,310  
  Total interests of others in operating subsidiaries and properties                         16,022                         25,332  
  Total non-controlling interests                                         $                  29,829      $                  39,800  

(1) Each unit within these classes of non-controlling interest has economic terms substantially equivalent to those of an LP Unit. As such, income attributed to each unit or share of non-controlling interest is equivalent to that allocated to an LP Unit. The proportion of interests held by holders of the Redeemable/Exchangeable Partnership Units changes as a result of issuances, repurchases and exchanges. Consequently, the partnership adjusted the relative carrying amounts of the interests held by limited partners and non-controlling interests based on their relative share of the equivalent LP Units. The difference between the adjusted value and the previous carrying amounts was attributed to current LP Units as ownership changes in the Consolidated Statements of Changes in Equity.

(2) See Note 31, Related Parties for further information on the Manager Reorganization.

NOTE 20. COMM