BROOKFIELD Corp /ON/
For the period ended Dec 31, 2025. Filed Mar 18, 2026.
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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.
FY2025 · Filed Mar 18, 2026
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Contents
EX-99.2 · EQUITY
EQUITY
The significant variances in common equity and non-controlling interests are discussed below. Preferred equity is discussed in Part 4 – Capitalization and Liquidity.
The following table presents the major contributors to the year-over-year variances for common equity:
| AS AT AND FOR THE YEARS ENDED DEC. 31(MILLIONS) | 2025 | 2024 |
|---|---|---|
| Common equity, beginning of year | $41,874 | $41,674 |
| Changes in period | ||
| Net income attributable to shareholders | 1,307 | 641 |
| Other comprehensive income | 1,833 | 766 |
| Common dividends | (552) | (495) |
| Preferred dividends | (167) | (168) |
| Repurchases, net of equity issuances | (864) | (940) |
| Ownership changes and other | 365 | 396 |
| 1,922 | 200 | |
| Common equity, end of year | $43,796 | $41,874 |
Common equity increased by $1.9 billion to $43.8 billion during the year, primarily due to:
net income attributable to common shareholders of $1.3 billion;
other comprehensive income of $1.8 billion, primarily related to revaluation gains on property, plant and equipment within our Renewable Power and Transition and Infrastructure segments and foreign currency translation, partially offset by unrealized mark-to-market movements on commodity hedges and financial assets across our businesses; and
ownership changes and other of $365 million primarily related to a gain on sale of a portion of our interest in BAM to our Wealth Solutions business; partially offset by
distributions of $719 million to shareholders as common and preferred share dividends; and
share repurchases, net of issuances, of $864 million, mainly related to the repurchase of 28.0 million Class A Limited Voting Shares (“Class A shares”) during the year.
2025 ANNUAL REPORT 53
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