BROOKFIELD Corp /ON/
For the period ended Dec 31, 2024. Filed Mar 24, 2025.
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The yearly report of certain Canadian companies, filed under a joint US and Canadian system. It is the main yearly account these companies give US investors, largely as filed in Canada.
FY2024 · Filed Mar 24, 2025
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Contents
EX-99.2 · INCOME STATEMENT ANALYSIS
INCOME STATEMENT ANALYSIS
The following table summarizes the financial results of the company for 2024, 2023 and 2022:
| FOR THE YEARS ENDED DEC. 31(MILLIONS, EXCEPT PER SHARE AMOUNTS) | Change | ||||
|---|---|---|---|---|---|
| 2024 · 2023 · 2022 · 2024 vs. 2023 · 2023 vs. 2022 | |||||
| Revenues | $86,006 | $95,924 | $92,769 | $(9,918) | $3,155 |
| Direct costs1 | (67,936) | (81,409) | (78,511) | 13,473 | (2,898) |
| Other income and gains | 1,247 | 6,501 | 1,594 | (5,254) | 4,907 |
| Equity accounted income | 2,729 | 2,068 | 2,613 | 661 | (545) |
| Expenses | |||||
| Interest | (16,615) | (15,503) | (10,702) | (1,112) | (4,801) |
| Corporate costs | (76) | (69) | (122) | (7) | 53 |
| Fair value changes | (2,520) | (1,396) | (977) | (1,124) | (419) |
| Income tax expense | (982) | (1,011) | (1,469) | 29 | 458 |
| Net income | 1,853 | 5,105 | 5,195 | (3,252) | (90) |
| Non-controlling interests | (1,212) | (3,975) | (3,139) | 2,763 | (836) |
| Net income attributable to shareholders | $641 | $1,130 | $2,056 | $(489) | $(926) |
| Net income per share | $0.31 | $0.61 | $1.19 | $(0.30) | $(0.58) |
- Direct costs include $9.7 billion of depreciation and amortization expense for the year ended December 31, 2024 (2023 – $9.1 billion; 2022 – $7.7 billion).
2024 vs. 2023
Revenues for the year were $86.0 billion, a decrease of $9.9 billion or 10% compared to 2023, primarily due to:
higher revenues from lease commencements and higher rents on core properties, within our Real Estate segment;
increased contributions from our Infrastructure segment due to organic growth as a result of inflation indexation and rate base increases, and from our Renewable Power and Transition segment due to commissioning of recent development projects;
strong same-store results from our Private Equity segment due to increased demand for higher margin advanced batteries at our advanced energy storage operation; more than offset by
the absence of contributions from recent net dispositions, primarily due to the sale of our road fuels operation in the third quarter of 2024 and the deconsolidation of our nuclear technology services operation in the fourth quarter of 2023, both within our Private Equity segment.
A discussion of the impact on revenues and net income from recent acquisitions and dispositions can be found on page 25.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.