Brookfield Business Partners (BBU) 6-K 6 Aug 21 2021 Q2 Unaudited Interim Condensed Consolidated Financial Statements of Financial data

Cover Page

Cover Page	6 Months Ended
	Jun. 30, 2021
Cover [Abstract]
Document Type	6-K
Entity Registrant Name	BROOKFIELD BUSINESS PARTNERS L.P.
Entity Central Index Key	0001654795
Current Fiscal Year End Date	--12-31
Document Period End Date	Jun. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Amendment Flag	false

UNAUDITED INTERIM CONDENSED CON

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Current Assets
Cash and cash equivalents	$ 2,076	$ 2,743
Financial assets	2,281	2,575
Accounts and other receivable, net	4,511	4,306
Inventory, net	3,951	3,696
Other assets	1,372	1,173
Current assets	14,191	14,493
Financial assets	6,482	6,221
Accounts and other receivable, net	728	683
Other assets	373	411
Property, plant and equipment	13,119	13,982
Deferred income tax assets	736	761
Intangible assets	11,026	11,261
Equity accounted investments	1,586	1,690
Goodwill	5,284	5,244
Total assets	53,525	54,746
Current Liabilities
Accounts payable and other	11,047	10,416
Corporate borrowings	427	300
Non-recourse borrowings in subsidiaries of the partnership	1,367	1,417
Current liabilities	12,841	12,133
Accounts payable and other	7,411	7,516
Corporate borrowings	0	310
Non-recourse borrowings in subsidiaries of the partnership	20,491	21,749
Deferred income tax liabilities	1,586	1,701
Total liabilities	42,329	43,409
Equity
Limited partners	2,230	1,928
Non-controlling interests attributable to:
Redemption-Exchange Units, Preferred Shares and Special Limited Partnership Units held by Brookfield Asset Management Inc.	1,993	1,564
Interest of others in operating subsidiaries	6,973	7,845
Total equity	11,196	11,337
Total equity and liabilities	$ 53,525	$ 54,746

UNAUDITED INTERIM CONDENSED C_2

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF OPERATING RESULTS - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Profit or loss [abstract]
Revenues	$ 11,235	$ 7,370	$ 21,064	$ 17,516
Direct operating costs	(9,996)	(6,285)	(18,432)	(15,186)
General and administrative expenses	(253)	(228)	(504)	(472)
Depreciation and amortization expense	(553)	(533)	(1,095)	(1,071)
Interest income (expense), net	(351)	(353)	(699)	(717)
Equity accounted income (loss), net	7	18	36	9
Impairment expense, net	0	(29)	(201)	(142)
Gain (loss) on acquisitions/dispositions, net	16	(4)	1,823	179
Other income (expense), net	(97)	149	(58)	(68)
Income (loss) before income tax	8	105	1,934	48
Income tax (expense) recovery
Current	(118)	(23)	(311)	(98)
Deferred	81	67	115	165
Net income (loss)	(29)	149	1,738	115
Attributable to:
Limited partners	(50)	(59)	231	(126)
Non-controlling interests attributable to:
Redemption-Exchange Units held by Brookfield Asset Management Inc.	(44)	(50)	205	(109)
Special Limited Partners	79	0	79	0
Interest of others in operating subsidiaries	(14)	258	1,223	350
Net income (loss)	$ (29)	$ 149	$ 1,738	$ 115
Basic and diluted earnings (loss) per limited partner unit (in usd per share)	$ (0.63)	$ (0.73)	$ 2.94	$ (1.57)

UNAUDITED INTERIM CONDENSED C_3

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of comprehensive income [abstract]
Net income (loss)	$ (29)	$ 149	$ 1,738	$ 115
Items that may be reclassified subsequently to profit or loss:
Fair value through other comprehensive income	7	134	(92)	142
Foreign currency translation	368	281	38	(799)
Net investment and cash flow hedges	(145)	(50)	89	7
Equity accounted investments	3	2	1	(9)
Taxes on the above items	3	(42)	21	(55)
Reclassification to profit or loss	18	37	19	38
Other comprehensive income that will be reclassified to profit or loss, net of tax	254	362	76	(676)
Items that will not be reclassified subsequently to profit or loss:
Fair value through other comprehensive income	60	93	160	(82)
Taxes on the above item	(8)	(5)	(20)	18
Total other comprehensive income (loss)	306	450	216	(740)
Comprehensive income (loss)	277	599	1,954	(625)
Attributable to:
Limited partners	(1)	17	270	(225)
Non-controlling interests attributable to:
Redemption-Exchange Units held by Brookfield Asset Management Inc.	1	16	241	(194)
Special Limited Partners	79	0	79	0
Interest of others in operating subsidiaries	198	566	1,364	(206)
Comprehensive income (loss)	$ 277	$ 599	$ 1,954	$ (625)

UNAUDITED INTERIM CONDENSED C_4

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Millions		Total	Limited Partners	Redemption-Exchange Units held by Brookfield Asset Management Inc.	CapitalLimited Partners	CapitalRedemption-Exchange Units held by Brookfield Asset Management Inc.	Retained earningsLimited Partners	Retained earningsRedemption-Exchange Units held by Brookfield Asset Management Inc.	Retained earningsSpecial Limited Partners	Ownership changesLimited Partners	Ownership changesRedemption-Exchange Units held by Brookfield Asset Management Inc.	Accumulated other comprehensive income (loss)Limited Partners	[1]	Accumulated other comprehensive income (loss)Redemption-Exchange Units held by Brookfield Asset Management Inc.	[1]	Capital	Interest of others in operating subsidiaries
Beginning balance at Dec. 31, 2019		$ 11,053	$ 2,116	$ 1,661	$ 2,331	$ 1,924	$ (217)	$ (209)	$ 0	$ 220	$ 210	$ (218)		$ (264)		$ 15	$ 7,261
Net income (loss)		115	(126)	(109)			(126)	(109)									350
Other comprehensive income (loss)		(740)	(99)	(85)								(99)		(85)			(556)
Comprehensive income (loss)		(625)	(225)	(194)			(126)	(109)				(99)		(85)			(206)
Contributions		473															473
Distributions	[2]	(757)	(10)	(8)			(10)	(8)									(739)
Ownership changes	[3]	(374)	(137)	(120)			3	2		(141)	(122)	1					(117)
Unit repurchases	[2]	(13)	(13)		(13)
Ending balance at Jun. 30, 2020		9,757	1,731	1,339	2,318	1,924	(350)	(324)	0	79	88	(316)		(349)		15	6,672
Beginning balance at Dec. 31, 2020		11,337	1,928	1,549	2,275	1,924	(235)	(222)	0	68	78	(180)		(231)		15	7,845
Net income (loss)		1,738	231	205			231	205	79								1,223
Other comprehensive income (loss)		216	39	36								39		36			141
Comprehensive income (loss)		1,954	270	241			231	205	79			39		36			1,364
Contributions		1,016															1,016
Distributions	[2]	(1,377)	(10)	(8)			(10)	(8)	(79)								(1,280)
Ownership changes	[3]	(1,857)	59	196			58	51		39	108	(38)		37			(2,112)
Unit repurchases	[2]	(17)	(17)		(17)
Acquisition of interest	[4]	140															140
Ending balance at Jun. 30, 2021		$ 11,196	$ 2,230	$ 1,978	$ 2,258	$ 1,924	$ 44	$ 26	$ 0	$ 107	$ 186	$ (179)		$ (158)		$ 15	$ 6,973
[1]	See Note 20 for additional information.
[2]	See Note 19 for additional information on distributions and for additional information on unit repurchases.
[3]	Includes gains or losses on changes in ownership interests of consolidated subsidiaries.
[4]	See Note 3 for additional information.

UNAUDITED INTERIM CONDENSED C_5

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Operating Activities
Net income (loss)	$ 1,738	$ 115
Adjusted for the following items:
Equity accounted earnings, net of distributions	(4)	14
Impairment expense, net	201	142
Depreciation and amortization expense	1,095	1,071
Gain on acquisitions/dispositions, net	(1,823)	(179)
Provisions and other items	11	140
Deferred income tax expense (recovery)	(115)	(165)
Changes in non-cash working capital, net	(285)	824
Cash from operating activities	818	1,962
Financing Activities
Proceeds from non-recourse subsidiary borrowings of the partnership	2,430	2,478
Repayment of non-recourse subsidiary borrowings of the partnership	(2,500)	(2,504)
Proceeds from corporate borrowings	260	283
Repayment of corporate borrowings	(443)	(30)
Proceeds from other financing	97	57
Repayment of other financing	(57)	(63)
Proceeds from (repayment of) other credit facilities, net	(69)	(339)
Lease liability repayment	(127)	(114)
Capital provided by others who have interests in operating subsidiaries	1,357	439
Capital paid to others who have interests in operating subsidiaries	(1,287)	(36)
Partnership units repurchased	(17)	(13)
Distributions to limited partners and Redemption-Exchange Unitholders	(18)	(18)
Distributions to others who have interests in operating subsidiaries	(1,279)	(729)
Cash from (used in) financing activities	(1,653)	(589)
Acquisitions
Subsidiaries, net of cash acquired	(242)	90
Property, plant and equipment and intangible assets	(556)	(671)
Equity accounted investments	(4)	(445)
Financial assets and other	(1,815)	(914)
Dispositions
Subsidiaries, net of cash disposed	349	165
Property, plant and equipment and intangible assets	42	26
Equity accounted investments	325	0
Financial assets and other	1,645	777
Net settlement of hedges	4	124
Restricted cash and deposits	396	(251)
Cash from (used in) investing activities	144	(1,099)
Cash
Change during the period	(691)	274
Impact of foreign exchange on cash	24	(122)
Balance, beginning of year	2,743	1,986
Balance, end of period	$ 2,076	$ 2,138

NATURE AND DESCRIPTION OF THE P

NATURE AND DESCRIPTION OF THE PARTNERSHIP	6 Months Ended
	Jun. 30, 2021
Corporate Information And Statement Of IFRS Compliance [Abstract]
NATURE AND DESCRIPTION OF THE PARTNERSHIP	NATURE AND DESCRIPTION OF THE PARTNERSHIPBrookfield Business Partners L.P. and its subsidiaries (collectively, “the partnership”) own and operate business services and industrial operations (“the Business”) on a global basis. Brookfield Business Partners L.P. was established as a limited partnership under the laws of Bermuda, and organized pursuant to a limited partnership agreement as amended on May 31, 2016, and as thereafter amended. Brookfield Business Partners L.P. is a subsidiary of Brookfield Asset Management Inc. (“Brookfield Asset Management” or “Brookfield” or the “parent company”). Brookfield Business Partners L.P.’s limited partnership units are listed on the New York Stock Exchange and the Toronto Stock Exchange under the symbols “BBU” and “BBU.UN”, respectively. The registered head office of Brookfield Business Partners L.P. is 73 Front Street, 5th Floor, Hamilton HM 12, Bermuda.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2021
Corporate Information And Statement Of IFRS Compliance [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES (a) Basis of presentation These unaudited interim condensed consolidated financial statements of the partnership have been prepared in accordance with International Accounting Standard 34, Interim Financial Reporting (“IAS 34”), as issued by the International Accounting Standards Board, or the IASB, and using the accounting policies the partnership applied in its annual consolidated financial statements as at and for the year ended December 31, 2020, except for the impact of the adoption of the new accounting policies and standards described below. The accounting policies the partnership applied in its annual consolidated financial statements as at and for the year ended December 31, 2020 are disclosed in Note 2 of such consolidated financial statements, with which reference should be made in reading these unaudited interim condensed consolidated financial statements. All defined terms are also described in the annual consolidated financial statements. The unaudited interim condensed consolidated financial statements are prepared on a going concern basis and have been presented in U.S. dollars rounded to the nearest million unless otherwise indicated. The preparation of financial statements in accordance with IAS 34 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the accounting policies. The critical accounting estimates and judgments have been set out in Note 2 to the partnership’s consolidated financial statements as at and for the year ended December 31, 2020. There have been no significant changes to the method of determining significant estimates and judgments since December 31, 2020. These unaudited interim condensed consolidated financial statements were approved by the partnership’s Board of Directors and authorized for issue on August 6, 2021. (i) Critical accounting judgments and measurement uncertainty The preparation of financial statements requires management to make critical judgments, estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses that are not readily apparent from other sources, during the reporting period. These estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. In March 2020, the World Health Organization declared a global pandemic related to COVID-19. To date, there has been significant volatility in capital markets, commodity prices and foreign currencies, restrictions on the conduct of business in many jurisdictions, and the global movement of people and some goods has become restricted. The partnership considered the impacts of these circumstances on the key critical judgments, estimates and assumptions that affect the reported and contingent amount of assets, liabilities, revenues and expenses, including whether goodwill, intangible assets and property, plant and equipment needed to be reevaluated for impairment as of June 30, 2021. The partnership has a diversified portfolio of operating businesses, many of which provide essential products and services to their customers. Based on its assessments, no additional impairments were required as at June 30, 2021. The partnership will continue to monitor the situation and review its critical estimates and judgments as circumstances evolve. (b) New accounting policies adopted (i) IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 amendments for IBOR reform The amendments provide temporary relief which address the financial reporting effects when an interbank offered rate (“IBOR”) is replaced with an alternative nearly risk-free interest rate (“RFR”). The amendments include the following practical expedients: • A practical expedient to require contractual changes, or changes to cash flows that are directly required by the reform, to be treated as changes to a floating interest rate, equivalent to a movement in a market rate of interest; • Permit changes required by IBOR reform to be made to hedge designations and hedge documentation without the hedging relationship being discontinued; and • Provide temporary relief to entities from having to meet the separately identifiable requirement when an RFR instrument is designated as a hedge of a risk component. These amendments had no impact on the unaudited interim condensed consolidated financial statements of the partnership. The partnership intends to use the practical expedients in future periods when they become applicable. (c) Future changes in accounting policies (i) Insurance contracts In May 2017, the IASB published IFRS 17, Insurance contracts (“IFRS 17”), a comprehensive standard that establishes principles for the recognition, measurement, presentation and disclosure of insurance contracts. IFRS 17 will replace IFRS 4, Insurance contracts . In June 2020, the IASB decided on a further deferral of the effective date of IFRS 17 from annual periods beginning on or after January 1, 2021 to annual periods beginning on or after January 1, 2023. The measurement approach under IFRS 17 is based on the following: • fulfillment cash flows which comprise: ◦ a current, unbiased probability-weighted estimate of future cash flows expected to arise as the insurer fulfills the contract; ◦ the effect of the time value of money; and ◦ a risk adjustment that measures the effects of uncertainty about the amount and timing of future cash flows; • a contractual service margin which represents the unearned profit in a contract and that is recognized in profit or loss over time as the insurance coverage is provided. There will also be a new financial statement presentation for insurance contracts and additional disclosure requirements. IFRS 17 requires the partnership to distinguish between groups of contracts expected to be profit-making and groups of contracts expected to be onerous. IFRS 17 is to be applied retrospectively to each group of insurance contracts. If full retrospective application to a group of contracts is impracticable, the modified retrospective or fair value method may be used. The partnership is currently assessing the impact of IFRS 17 on its financial statements. (ii) Amendments to IAS 1 – Presentation of Financial Statements (“IAS 1”) The amendments clarify how to classify debt and other liabilities as current or non-current. The amendments to IAS 1 apply to annual reporting periods beginning on or after January 1, 2023. The partnership is currently assessing the impact of these amendments. (iii) Amendment to IAS 12 – Income taxes (“IAS 12”) The amendment clarifies that the initial recognition exception does not apply to the initial recognition of leases and decommissioning obligations. The amendment to IAS 12 applies to annual reporting periods beginning on or after January 1, 2023. The partnership is currently assessing the impact of these amendments. There are currently no other future changes to IFRS with potential impact on the partnership.

ACQUISITION OF BUSINESSES

ACQUISITION OF BUSINESSES	6 Months Ended
	Jun. 30, 2021
Business Combinations 1 [Abstract]
ACQUISITION OF BUSINESSES	ACQUISITION OF BUSINESSES When determining the basis of accounting for the partnership’s investees, the partnership evaluates the degree of influence that the partnership exerts directly or through an arrangement over the investees’ relevant activities. Control is obtained when the partnership has power over the acquired entities and an ability to use its power to affect the returns of these entities. The partnership accounts for business combinations using the acquisition method of accounting, pursuant to which the cost of acquiring a business is allocated to its identifiable tangible and intangible assets and liabilities on the basis of the estimated fair values at the date of acquisition. (a) Acquisitions completed in the six months ended June 30, 2021 The following summarizes the consideration transferred, assets acquired and liabilities assumed at the applicable acquisition dates for significant acquisitions: Business services Everise Holdings Pte Ltd. (“Everise”) On January 8, 2021, the partnership, together with institutional partners, acquired a 100% voting interest in Everise, a business process outsourcing company that specializes in managing customer interactions for large global healthcare and technology clients primarily based in the U.S. The partnership’s economic interest was 36% for total consideration of $103 million, comprising $80 million of cash consideration and $23 million of contingent consideration related to the achievement of near-term performance targets payable to the former shareholders. The partnership received 100% of the voting rights, which provided the partnership with control. Accordingly, the partnership has consolidated the business for financial reporting purposes. The acquisition contributed $91 million of intangible assets, $20 million of equity accounted investments, net other liabilities of $1 million and $103 million of non-recourse borrowings. Goodwill of $275 million was recognized and represents growth the partnership expects to experience from the operations. The goodwill recognized is not deductible for income tax purposes. Non-controlling interests of $179 million recognized on business combination were measured at fair value. The initial fair values of acquired assets, liabilities, and goodwill for the acquisition have been determined on a preliminary basis at the end of the reporting period. Total acquisition costs of $7 million were recorded as other expenses in the unaudited interim condensed consolidated statements of operating results. The partnership’s results from operations for the period ended June 30, 2021 includes revenues of $150 million contributed from Everise. If the acquisition had been effective January 1, 2021, the partnership would have recorded revenues of $157 million for the six months ended June 30, 2021. (b) Acquisitions completed in 2020 The following summarizes the consideration transferred, assets acquired and liabilities assumed at the applicable acquisition dates for significant acquisitions: Business services IndoStar Capital Finance Limited (“IndoStar”) On May 27, 2020, the partnership, together with institutional partners, acquired a 31% ownership interest in IndoStar, an Indian financing company focused on commercial vehicle lending and affordable home finance, for consideration of $162 million. The partnership did not receive voting rights with its initial investment and on June 30, 2020 classified the investment as a financial asset measured at fair value through profit and loss. On July 8 and 9, 2020, the partnership, together with institutional partners, acquired an additional 26% interest in IndoStar through a Mandatory Tender Offer and a secondary offering, for $114 million and $19 million, respectively, for a total ownership interest of 57%. Upon completion of the additional investment, the partnership received 57% of the voting rights which provided the partnership with control over the business on July 9, 2020. Accordingly, the partnership has consolidated the business for financial reporting purposes. Total consideration for the acquisition, inclusive of the May 27, 2020 transaction, was $105 million attributable to the partnership, representing a 20% economic interest. Total acquisition costs of $4 million were recorded as other expenses within the consolidated statements of operating results in 2020. The transaction was accounted for as a business combination achieved in stages. The partnership’s previously held investment in IndoStar was remeasured to fair value prior to the acquisition of additional interests. The fair value approximated carrying value and no cumulative gain or loss arising from changes in the fair value of the investment was recognized. The acquisition contributed $1,112 million of loans receivable, $78 million of cash and cash equivalents, $227 million of financial assets, intangible assets of $20 million, net other assets of $30 million and non-recourse borrowings of $988 million. Goodwill of $29 million was recognized and represents the benefits the partnership expects to receive from the integration of the operations. Non-controlling interests of $403 million recognized on business combination were measured at the proportionate share of the fair value of assets acquired and liabilities assumed. The partnership’s results from operations for the year ended December 31, 2020 includes revenues of $86 million and $3 million of net income attributable to the partnership from the acquisition. If the acquisition had been effective January 1, 2020, the partnership would have recorded revenues of $175 million for the year ended December 31, 2020 and a net loss of $7 million attributable to the partnership for the year ended December 31, 2020 .

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2021
Fair Value Measurement [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS The following table provides the details of financial instruments and their associated classifications as at June 30, 2021: (US$ MILLIONS) MEASUREMENT BASIS FVTPL FVOCI Amortized cost Total Financial assets Cash and cash equivalents $ — $ — $ 2,076 $ 2,076 Accounts and other receivable, net (current and non-current) — — 5,239 5,239 Other assets (current and non-current) (1) — — 565 565 Financial assets (current and non-current) (2) 723 6,335 1,705 8,763 Total $ 723 $ 6,335 $ 9,585 $ 16,643 Financial liabilities Accounts payable and other (current and non-current) (2) (3) $ 265 $ 316 $ 9,550 $ 10,131 Borrowings (current and non-current) — — 22,285 22,285 Total $ 265 $ 316 $ 31,835 $ 32,416 ____________________________________ (1) Excludes prepayments, subrogation recoverable, deferred policy acquisition costs and assets held for sale of $1,180 million. (2) Refer to Hedging Activities in Note 4(a) below. (3) Includes derivative liabilities, and excludes provisions, decommissioning liabilities, deferred revenues, unearned premium reserve, work in progress, post-employment benefits, liabilities held for sale and various taxes and duties of $8,327 million. Included in cash and cash equivalents as at June 30, 2021 is $1,614 million of cash (December 31, 2020: $2,269 million) and $462 million of cash equivalents (December 31, 2020: $474 million). Included in financial assets as at June 30, 2021 is $1,259 million (December 31, 2020: $850 million) of equity instruments and $4,952 million (December 31, 2020: $4,041 million) of debt instruments designated as measured at fair value through other comprehensive income. The remaining balance of instruments designated as measured at fair value through other comprehensive income relates primarily to derivatives designated in hedging relationships. The fair value of all financial assets and liabilities as at June 30, 2021 were consistent with carrying value, with the exception of the borrowings at the partnership’s offshore oil services operations measured at amortized cost , where fair value determined using Level 1 and Level 2 inputs resulted in a fair value of $2,661 million (December 31, 2020: $2,753 million) versus a carrying value of $2,653 million (December 31, 2020: $2,769 million). The following table provides the allocation of financial instruments and their associated classifications as at December 31, 2020: (US$ MILLIONS) MEASUREMENT BASIS FVTPL FVOCI Amortized cost Total Financial assets Cash and cash equivalents $ — $ — $ 2,743 $ 2,743 Accounts and other receivable, net (current and non-current) — — 4,989 4,989 Other assets (current and non-current) (1) — — 536 536 Financial assets (current and non-current) (2) 933 5,561 2,302 8,796 Total (3) $ 933 $ 5,561 $ 10,570 $ 17,064 Financial liabilities Accounts payable and other (2) (4) $ 435 $ 370 $ 9,063 $ 9,868 Borrowings (current and non-current) — — 23,776 23,776 Total $ 435 $ 370 $ 32,839 $ 33,644 ____________________________________ (1) Excludes prepayments, subrogation recoverable and other assets of $1,048 million. (2) Refer to Hedging Activities in Note 4(a) below. (3) Total financial assets include $4,704 million of assets pledged as collateral. (4) Includes derivative liabilities and excludes provisions, decommissioning liabilities, deferred revenues, unearned premium reserve, work in progress, post-employment benefits, liabilities held for sale and various taxes and duties of $8,064 million. (a) Hedging activities Net investment hedges The partnership uses foreign exchange contracts and foreign currency denominated debt instruments to manage foreign currency exposures arising from net investments in foreign operations. For the three and six months ended June 30, 2021, a pre-tax net loss of $110 million and net gain of $57 million (June 30, 2020: pre-tax net loss of $50 million and net gain $269 million) was recorded in other comprehensive income for the effective portion of hedges of net investments in foreign operations. As at June 30, 2021, there was a derivative asset balance of $22 million (December 31, 2020: $17 million) and derivative liability balance of $64 million (December 31, 2020: $59 million) relating to derivative contracts designated as net investment hedges. Cash flow hedges The partnership uses commodity swap contracts to hedge the sale price of natural gas contracts, purchase price of decant oil, lead, polypropylene, tin, foreign exchange contracts and option contracts to hedge highly probable future transactions, and interest rate contracts to hedge the cash flows on its floating rate borrowings. A number of these contracts are designated as cash flow hedges. For the three and six months ended June 30, 2021, a pre-tax net loss of $35 million and net gain of $32 million (June 30, 2020: pre-tax net loss of $nil and $262 million) was recorded in other comprehensive income for the effective portion of cash flow hedges. As at June 30, 2021, there was a derivative asset balance of $102 million (December 31, 2020: $82 million) and derivative liability balance of $252 million (December 31, 2020: $311 million) relating to the derivative contracts designated as cash flow hedges. Derivative instruments not designated in a hedging relationship are measured at fair value, with changes in fair value recognized in the unaudited interim condensed consolidated statements of operating results. Fair value hierarchical levels – financial instruments Level 3 assets and liabilities measured at fair value on a recurring basis include $417 million (December 31, 2020: $341 million) of financial assets and $77 million (December 31, 2020: $11 million) of financial liabilities, which are measured at fair value using valuation inputs based on management ’ s best estimates of what market participants would use in pricing the asset or liability at the measurement date. There were no transfers between levels during the three and six months ended June 30, 2021. The following table categorizes financial assets and liabilities, which are carried at fair value, based upon the level of input as at June 30, 2021 and December 31, 2020: June 30, 2021 December 31, 2020 (US$ MILLIONS) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Financial assets Common shares $ 809 $ — $ — $ 481 $ — $ — Corporate and government bonds 162 4,186 — — 4,049 — Derivative assets 5 231 — 46 231 — Other financial assets (1) 629 617 417 775 571 341 $ 1,605 $ 5,034 $ 417 $ 1,302 $ 4,851 $ 341 Financial liabilities Derivative liabilities $ 25 $ 479 $ — $ 72 $ 722 $ — Other financial liabilities — — 77 — — 11 $ 25 $ 479 $ 77 $ 72 $ 722 $ 11 ____________________________________ (1) Other financial assets include secured debentures, asset-backed securities and preferred shares in the partnership’s business services segment. Level 1 other financial assets are primarily publicly traded preferred shares and mutual funds. Level 2 other financial assets are primarily asset-backed securities and Level 3 financial assets are primarily secured debentures. The following table presents the change in the balance of financial assets classified as Level 3 as at June 30, 2021 and December 31, 2020: (US$ MILLIONS) June 30, 2021 December 31, 2020 Balance at beginning of period $ 341 $ 287 Fair value change recorded in net income (5) (2) Fair value change recorded in other comprehensive income 13 (3) Additions 69 221 Disposals (1) (162) Balance at end of period $ 417 $ 341 (b) Offsetting of financial assets and liabilities Financial assets and liabilities are offset with the net amount reported in the unaudited interim condensed consolidated statements of financial position where the partnership currently has a legally enforceable right to offset and there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously. As at June 30, 2021, $nil of financial assets (December 31, 2020: $68 million) and $19 million of financial liabilities (December 31, 2020: $14 million) were offset in the unaudited interim condensed consolidated statements of financial position.

FINANCIAL ASSETS

FINANCIAL ASSETS	6 Months Ended
	Jun. 30, 2021
Financial Instruments [Abstract]
FINANCIAL ASSETS	FINANCIAL ASSETS (US$ MILLIONS) June 30, 2021 December 31, 2020 Current Marketable securities $ 1,285 $ 995 Restricted cash 436 833 Derivative contracts 149 167 Loans and notes receivable 244 195 Other financial assets (1) 167 385 Total current $ 2,281 $ 2,575 Non-current Marketable securities $ 3,875 $ 3,535 Restricted cash 279 272 Derivative contracts 87 110 Loans and notes receivable 745 1,002 Other financial assets (1) 1,496 1,302 Total non-current $ 6,482 $ 6,221 ____________________________________ (1) Other financial assets include secured debentures, asset-backed securities and preferred shares in the partnership’s business services segment.

ACCOUNTS AND OTHER RECEIVABLE,

ACCOUNTS AND OTHER RECEIVABLE, NET	6 Months Ended
	Jun. 30, 2021
Subclassifications of assets, liabilities and equities [abstract]
ACCOUNTS AND OTHER RECEIVABLE, NET	ACCOUNTS AND OTHER RECEIVABLE, NET (US$ MILLIONS) June 30, 2021 December 31, 2020 Current, net $ 4,511 $ 4,306 Non-current, net Accounts receivable 56 60 Retainer on customer contract 68 68 Billing rights 604 555 Total non-current, net $ 728 $ 683 Total $ 5,239 $ 4,989 Non-current billing rights primarily represent unbilled rights arising at the partnership’s water and wastewater operations in Brazil from revenues earned from the construction on public concession contracts classified as financial assets, which are recognized when there is an unconditional right to receive cash or other financial assets from the concession authority for the construction services. The partnership’s construction operations has a retention balance, which comprises amounts that have been earned but held back until the satisfaction of certain conditions specified in the contract are met.

INVENTORY, NET

INVENTORY, NET	6 Months Ended
	Jun. 30, 2021
Inventories [Abstract]
INVENTORY, NET	INVENTORY, NET (US$ MILLIONS) June 30, 2021 December 31, 2020 Raw materials and consumables $ 953 $ 980 Fuel products (1) 697 648 Work in progress 614 638 RTFO certificates (2) 464 365 Finished goods and other (3) 1,223 1,065 Carrying amount of inventories $ 3,951 $ 3,696 ____________________________________ (1) Fuel products that are traded in active markets are purchased with a view to resell in the near future. As a result, these stocks of fuel products are recorded at fair value based on quoted market prices. (2) Renewable Transport Fuel Obligations (“RTFO”) certificates held for trading as at June 30, 2021 have a fair value of $nil (December 31, 2020: $25 million). There is no externally quoted marketplace for the valuation of RTFO certificates. In order to value these contracts, the partnership has adopted a pricing methodology combining both observable inputs based on market data and assumptions developed internally based on observable market activity. (3) Finished goods and other are mainly composed of finished goods inventory in the infrastructure services and industrials segments.

DISPOSITIONS

DISPOSITIONS	6 Months Ended
	Jun. 30, 2021
Disposal Of Noncurrent Assets [Abstract]
DISPOSITIONS	DISPOSITIONS For the three and six month periods ended June 30, 2021 , the partnership recognized a net gain on dispositions of $16 million due primarily to the disposition of an equity accounted investment in its advanced energy storage operations and $1,823 million due primarily to the partial disposition of the investment in its graphite electrode operations, respectively (June 30, 2020: net loss of $4 million and a net gain of $179 million). On January 14, 2021, the partnership, together with institutional partners, sold 20 million common shares of its investment in its graphite electrode operations as part of a block trade transaction for total proceeds of $214 million. The transaction decreased the partnership’s voting interest in the investment to 48% but did not result in a loss of control. The partnership recorded a pre-tax gain of $239 million in the unaudited interim condensed consolidated statements of changes in equity, of which $82 million was attributable to the partnership. On March 1, 2021, the partnership, together with institutional partners, sold an additional 30 million common shares as part of a block trade for total proceeds of $350 million, which decreased the partnership’s voting interest to 37% and resulted in the deconsolidation of its investment in its graphite electrode operations. The partnership retained significant influence and continued to account for its 13% economic ownership in the investment using the equity method. As a result of the loss of control, a pre-tax gain of $1,764 million was recorded in the unaudited interim condensed consolidated statements of operating results. The partnership’s share of the total pre-tax gain recorded in gain (loss) on acquisitions/dispositions was $609 million. The gain on deconsolidation was calculated as the fair value of the interest retained by the partnership, together with institutional investors, in shares of the investment, cash proceeds received on the sale of shares to third parties, net of the derecognition of net assets and non-controlling interests in the graphite electrode operations. In May 2021, the partnership sold 11.3 million common shares of its graphite electrode operations through two block trade transactions for pre-tax proceeds of approximately $150 million. The transactions decreased the partnership’s economic ownership to 8%. The partnership recorded a pre-tax gain of $5 million in the unaudited interim condensed consolidated statements of operating results. Additionally, the partnership recognized a pre-tax gain of $41 million in the first quarter of 2021 from the disposition of a portion of the partnership’s investment in public securities. The prior period unrealized fair value changes related to these securities were recorded in other income (expense), net in the unaudited interim condensed consolidated statements of operating results. The gain recognized in the six month period ended June 30, 2020 is primarily related to the partnership’s sale of its cold storage logistics business for gross proceeds of approximately $255 million, resulting in a $186 million pre-tax gain recognized by the partnership.

OTHER ASSETS

OTHER ASSETS	6 Months Ended
	Jun. 30, 2021
Subclassifications of assets, liabilities and equities [abstract]
OTHER ASSETS	OTHER ASSETS (US$ MILLIONS) June 30, 2021 December 31, 2020 Current Work in progress (1) $ 523 $ 488 Prepayments and other assets 801 650 Assets held for sale 48 35 Total current $ 1,372 $ 1,173 Non-current Work in progress (1) $ 41 $ 48 Prepayments and other assets 332 363 Total non-current $ 373 $ 411 ____________________________________ (1) See Note 15 for additional information.

PROPERTY PLANT AND EQUIPMENT

PROPERTY PLANT AND EQUIPMENT	6 Months Ended
	Jun. 30, 2021
Property, plant and equipment [abstract]
PROPERTY PLANT AND EQUIPMENT	PROPERTY, PLANT AND EQUIPMENT (US$ MILLIONS) June 30, 2021 December 31, 2020 Gross carrying amount Balance at beginning of period $ 18,004 $ 16,502 Additions 582 1,526 Dispositions (1) (948) (599) Acquisitions through business combinations (2) 69 79 Assets reclassified as held for sale (18) (56) Foreign currency translation and other (35) 552 Balance at end of period $ 17,654 $ 18,004 Accumulated depreciation and impairment Balance at beginning of period $ (4,022) $ (2,610) Depreciation/depletion/impairment expense (880) (1,686) Dispositions (1) 387 316 Assets reclassified as held for sale 11 26 Foreign currency translation and other (31) (68) Balance at end of period $ (4,535) $ (4,022) Net book value (3) $ 13,119 $ 13,982 ____________________________________ (1) During the first quarter of 2021, the partnership derecognized $505 million of property, plant and equipment, net of accumulated amortization, related to the deconsolidation of the partnership’s graphite electrode operations on March 1, 2021. Refer to Note 8 for additional information. (2) See Note 3 for additional information. (3) Includes right-of-use assets of $1,250 million as at June 30, 2021 and $1,252 million as at December 31, 2020. During the first quarter of 2021, the partnership recorded impairment expense, net of $201 million in the unaudited interim condensed consolidated statements of operating results which primarily related to the closure of one of the partnership’s North American recycling facilities within the industrials segment.

INTANGIBLE ASSETS

INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2021
Intangible Assets [Abstract]
INTANGIBLE ASSETS	INTANGIBLE ASSETS (US$ MILLIONS) June 30, 2021 December 31, 2020 Gross carrying amount Balance at beginning of period $ 12,874 $ 12,504 Additions 136 610 Dispositions (1) (148) (173) Acquisitions through business combinations (2) 91 171 Assets reclassified as held for sale — (1) Foreign currency translation 7 (237) Balance at end of period $ 12,960 $ 12,874 Accumulated amortization and impairment Balance at beginning of period $ (1,613) $ (945) Amortization/impairment expense (391) (752) Dispositions (1) 73 90 Foreign currency translation (3) (6) Balance at end of period $ (1,934) $ (1,613) Net book value $ 11,026 $ 11,261 ____________________________________ (1) The partnership derecognized $71 million of intangible assets, net of accumulated amortization, related to the deconsolidation of the partnership’s graphite electrode operations on March 1, 2021. Refer to Note 8 for additional information. (2) See Note 3 for additional information.

GOODWILL

GOODWILL	6 Months Ended
	Jun. 30, 2021
Intangible Assets [Abstract]
GOODWILL	GOODWILL (US$ MILLIONS) June 30, 2021 December 31, 2020 Balance at beginning of period $ 5,244 $ 5,218 Acquisitions through business combinations (1) 301 (83) Dispositions (2) (171) (215) Foreign currency translation (90) 324 Balance at end of period $ 5,284 $ 5,244 ____________________________________ (1) See Note 3 for additional information. (2) Relates to the deconsolidation of the partnership’s graphite electrode operations on March 1, 2021. Refer to Note 8 for additional information.

EQUITY ACCOUNTED INVESTMENTS

EQUITY ACCOUNTED INVESTMENTS	6 Months Ended
	Jun. 30, 2021
Interests In Other Entities [Abstract]
EQUITY ACCOUNTED INVESTMENTS	EQUITY ACCOUNTED INVESTMENTS (US$ MILLIONS) June 30, 2021 December 31, 2020 Balance at beginning of year $ 1,690 $ 1,273 Acquisitions through business combinations (1) 20 (5) Additions (2) 430 446 Impairment losses (29) — Dispositions (3) (529) (30) Share of net income 36 57 Share of other comprehensive income (loss) 1 6 Distributions received (32) (41) Foreign currency translation (1) (16) Balance at end of period $ 1,586 $ 1,690 ____________________________________ (1) See Note 3 for additional information. (2) Includes an equity accounted investment in the partnership’s graphite electrode operations recorded upon deconsolidation of the investment on March 1, 2021. Refer to Note 8 for additional information. (3) During the quarter, the advanced energy storage operations of the partnership made a partial disposal of an equity accounted investment. The retained interest is accounted for as a marketable security as at June 30, 2021. Refer to Note 5 for additional information.

ACCOUNTS PAYABLE AND OTHER

ACCOUNTS PAYABLE AND OTHER	6 Months Ended
	Jun. 30, 2021
Subclassifications of assets, liabilities and equities [abstract]
ACCOUNTS PAYABLE AND OTHER	ACCOUNTS PAYABLE AND OTHER (US$ MILLIONS) June 30, 2021 December 31, 2020 Current: Accounts payable $ 3,172 $ 2,971 Accrued and other liabilities (1) (2) 4,453 3,864 Lease liabilities 226 222 Financial liabilities (3) 635 727 Unearned premiums reserve (4) 590 533 Work in progress (5) 1,444 1,539 Provisions and decommissioning liabilities 510 560 Liabilities held for sale 17 — Total current $ 11,047 $ 10,416 Non-current: Accounts payable $ 95 $ 82 Accrued and other liabilities (2) 1,309 1,325 Lease liabilities 1,083 1,142 Financial liabilities (3) 2,303 2,457 Unearned premiums reserve (4) 1,528 1,356 Work in progress (5) 7 23 Provisions and decommissioning liabilities 1,086 1,131 Total non-current $ 7,411 $ 7,516 ____________________________________ (1) Includes bank overdrafts of $338 million as at June 30, 2021 (December 31, 2020: $400 million). (2) Includes post-employment benefits of $977 million ($11 million current and $966 million non-current) as at June 30, 2021 and $1,018 million ($19 million current and $999 million non-current) as at December 31, 2020. (3) Includes financial liabilities of $1,800 million ($65 million current and $1,735 million non-current) as at June 30, 2021 and $1,847 million ($56 million current and $1,791 million non-current) as at December 31, 2020 related to the sale and leaseback of hospitals. (4) See Note 25 for additional information. (5) See Note 15 for additional information.

CONTRACTS IN PROGRESS

CONTRACTS IN PROGRESS	6 Months Ended
	Jun. 30, 2021
Construction Contracts [Abstract]
CONTRACTS IN PROGRESS	CONTRACTS IN PROGRESS (US$ MILLIONS) June 30, 2021 December 31, 2020 Contract costs incurred to date $ 25,120 $ 26,411 Profit recognized to date (less recognized losses) 1,543 1,476 26,663 27,887 Less: progress billings (27,550) (28,913) Contract work in progress (liability) $ (887) $ (1,026) Comprising: Amounts due from customers – work in progress $ 564 $ 536 Amounts due to customers – creditors (1,451) (1,562) Net work in progress $ (887) $ (1,026)

BORROWINGS

BORROWINGS	6 Months Ended
	Jun. 30, 2021
Financial Instruments [Abstract]
BORROWINGS	BORROWINGS (a) Corporate borrowings The partnership has bilateral credit facilities backed by large global banks. The credit facilities are available in euros, sterling, Australian, U.S. and Canadian dollars. Advances under the credit facilities bear interest at the specified LIBOR, EURIBOR, CDOR, BBSY or bankers’ acceptance rate plus 2.50% , or the specified base rate or prime rate plus 1.50% . The credit facilities require the partnership to maintain a minimum tangible net worth and deconsolidated debt-to-capitalization ratio at the corporate level. At June 30, 2021 , the partnership had $2,075 million available on its bilateral credit facilities with a maturity date of June 29, 2026. The balance drawn on the bilateral credit facility at June 30, 2021 is $nil ( December 31, 2020: $310 million). The partnership has a revolving acquisition credit facility with Brookfield that permits borrowings of up to $500 million. The credit facility is guaranteed by the partnership, Brookfield Business L.P. (“Holding LP”), and the Holding Entities. The credit facility is available in U.S. or Canadian dollars, and advances are made by way of LIBOR, base rate, bankers’ acceptance rate or prime rate loans. The credit facility bears interest at the specified LIBOR or bankers’ acceptance rate plus 3.45%, or the specified base rate or prime rate plus 2.45%. The credit facility requires the partnership to maintain a minimum deconsolidated net worth and contains restrictions on the ability of the borrowers and the guarantors to, among other things, incur liens, engage in certain mergers and consolidations or enter into speculative hedging arrangements. Net proceeds above a specified threshold that are received by the borrowers from asset dispositions, debt incurrences or equity issuances by the borrowers or their subsidiaries must be used to pay down the credit facility (which can then be redrawn to fund future investments). The facility automatically renews for consecutive one-year periods until June 29, 2026. As at June 30, 2021, the credit facility remains undrawn. The partnership is currently in compliance with or has obtained waivers related to all material covenant requirements, and the partnership continues to monitor performance against such covenant requirements. Refer to Note 17 for further details on the Deposit Agreement with Brookfield. As at June 30, 2021, the balance on deposit from Brookfield was $427 million. (b) Non-recourse subsidiary borrowings of the partnership Total non-recourse subsidiary borrowings of the partnership as at June 30, 2021 were $21,858 million (December 31, 2020: $23,166 million). Some of the partnership’s businesses have credit facilities in which they borrow and repay on a monthly basis. This movement has been shown on a net basis in the partnership’s unaudited interim condensed consolidated statements of cash flow. The partnership has financing arrangements within its operating businesses that trade in public markets or are held at major financial institutions. The financing arrangements are primarily composed of term loans, credit facilities and notes and debentures which are subject to fixed or floating interest rates. Most of these borrowings are not subject to financial maintenance covenants, however, some are subject to fixed charge coverage, leverage ratios and minimum equity or liquidity covenants. The partnership’s operations are currently in compliance with or have obtained waivers related to all material covenant requirements, and the partnership continues to work with its businesses to monitor performance against such covenant requirements.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2021
Related Party [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS In the normal course of operations, the partnership entered into the transactions below with related parties at exchange value. These transactions have been measured at fair value and are recognized in the unaudited interim condensed consolidated financial statements. (a) Transactions with the parent company The partnership has in place a Deposit Agreement with Brookfield whereby it may place funds on deposit with Brookfield and whereby Brookfield may place funds on deposit with the partnership. The deposit balance is due on demand and bears interest at LIBOR plus 1.50%. As at June 30, 2021, the amount of the deposit from Brookfield was $427 million (December 31, 2020: $300 million). For the three and six months ended June 30, 2021, the partnership paid interest expense of $2 million and $4 million on these deposits. The partnership pays Brookfield a quarterly base management fee, which is reflected within general and administrative expenses. For purposes of calculating the base management fee, the total capitalization of Brookfield Business Partners L.P. is equal to the quarterly volume-weighted average trading price of a unit on the principal stock exchange for the partnership units (based on trading volumes) multiplied by the number of units outstanding at the end of the quarter (assuming full conversion of the Redemption-Exchange Units into units of Brookfield Business Partners L.P.), plus the value of securities of the other service recipients that are not held by the partnership, plus all outstanding debt with recourse to a service recipient, less all cash held by such entities. The base management fee for the three and six months ended June 30, 2021 was $23 million and $41 million (June 30, 2020: $16 million and $32 million). In its capacity as the holder of the special limited partnership units (“Special LP Units”) of Holding LP, Brookfield is entitled to incentive distribution rights. The incentive distribution for the three and six months ended June 30, 2021 was $79 million (June 30, 2020: $nil). In addition, at the time of spin-off, the partnership entered into indemnity agreements with Brookfield related to certain contracts that were in place prior to the spin-off. Under these indemnity agreements, Brookfield has agreed to indemnify the partnership for the receipt of payments relating to such contracts. (b) Other The following tables summarize other transactions and balances the partnership has entered into with related parties: Three months ended Six months ended (US$ MILLIONS) 2021 2020 2021 2020 Transactions during the period Business services revenues (1) $ 133 $ 144 $ 287 $ 264 ____________________________________ (1) Within the partnership’s business services segment, the partnership provides construction services to affiliates of Brookfield. (US$ MILLIONS) June 30, 2021 December 31, 2020 Balances at end of period Accounts and other receivable, net $ 155 $ 98 Accounts payable and other $ 234 $ 97

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2021
Financial Instruments [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	DERIVATIVE FINANCIAL INSTRUMENTS The partnership’s activities expose it to a variety of financial risks, including market risk, currency risk, interest rate risk, commodity risk and other price risks. The partnership and its subsidiaries selectively use derivative financial instruments principally to manage these risks. The aggregate fair values of the partnership’s derivative financial instruments positions are as follows: June 30, 2021 December 31, 2020 (US$ MILLIONS) Financial Asset Financial Liability Financial Asset Financial Liability Foreign exchange contracts $ 112 $ 126 $ 129 $ 122 Cross currency swaps 6 — 3 1 Interest rate derivatives 59 284 65 553 Equity derivatives 13 — — 28 Commodities contracts 46 94 80 90 Total $ 236 $ 504 $ 277 $ 794 Total current $ 149 $ 216 $ 167 $ 340 Total non-current $ 87 $ 288 $ 110 $ 454

EQUITY

EQUITY	6 Months Ended
	Jun. 30, 2021
Equity [abstract]
EQUITY	EQUITY The partnership’s consolidated equity interests include the non-voting publicly traded limited partnership units (“LP Units”) held by public unitholders and Brookfield, general partner units held by Brookfield (“GP Units”), redemption-exchange partnership units (“Redemption-Exchange Units”) in Holding LP, a holding subsidiary of Brookfield Business Partners L.P., held by Brookfield, and Special LP Units in Holding LP held by Brookfield (collectively, “Units” or “Unitholders”). For the three and six months ended June 30, 2021, the partnership made distributions to LP Units, GP Units and Redemption-Exchange Units of $9 million and $18 million, respectively, or approximately $0.0625 per unit (June 30, 2020: $9 million and $18 million, or approximately $0.0625 per unit). For the three and six months ended June 30, 2021, the partnership distributed $482 million and $1,280 million, respectively (June 30, 2020: $64 million and $739 million), to others who have interests in the operating subsidiaries, primarily resulting from the distributions of proceeds from the sale of the partnership’s share of the graphite electrode operations common shares, combined with the distribution of proceeds from the sale of investments in public securities and the distribution resulting from the privatization of the partnership’s residential mortgage insurer. During the six month period ended June 30, 2021, the partnership repurchased and canceled 447,871 LP Units (June 30, 2020: 560,491 LP Units). (a) Earnings per limited partner unit Net income (loss) attributable to limited partnership unitholders for the three and six months ended June 30, 2021 was $(50) million and $231 million, respectively (June 30, 2020: net loss of $(59) million and $(126) million). The weighted average number of LP Units for the three and six months ended June 30, 2021 was 78.6 million and 78.7 million, respectively (June 30, 2020: 80.4 million and 80.6 million). (b) Incentive distribution to Special LP units In its capacity as the holder of the Special LP Units of Holding LP, the special limited partner is entitled to incentive distributions which are calculated as 20% of the increase in the market value of the units over an initial threshold based on the volume-weighted average price of the LP Units, subject to a high-water mark. During the three months ended June 30, 2021, the volume-weighted average price was $44.64 per LP Unit, which was above the previous incentive distribution threshold of $41.96 per LP Unit, resulting in an incentive distribution of $79 million declared for the three and six months ended June 30, 2021 (June 30, 2020: $nil). (c) GP Units and LP Units UNITS GP Units LP Units Total Balance as at January 1, 2021 4 79,031,984 79,031,988 Repurchased and canceled — (447,871) (447,871) Balance as at June 30, 2021 4 78,584,113 78,584,117 (d) Redemption-Exchange Units UNITS Redemption-Exchange Units Balance as at January 1, 2021 69,705,497 Repurchased and canceled — Balance as at June 30, 2021 69,705,497 (e) Acquisition of remaining publicly held interest in residential mortgage insurer On April 1, 2021, the partnership, together with institutional partners, completed the acquisition of the remaining 43% publicly held shares of its residential mortgage insurer for consideration of $1.3 billion. The partnership funded $185 million, net of financing raised. This transaction was accounted for as a transaction with owners in their capacity as owners. The partnership recorded an ownership change gain of $47 million in the unaudited interim condensed consolidated statements of changes in equity, attributable to Unitholders, measured as the difference between consideration paid and the carrying value of non-controlling interests acquired.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	6 Months Ended
	Jun. 30, 2021
Disclosure of analysis of other comprehensive income by item [abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (a) Attributable to Limited Partners (US$ MILLIONS) Foreign currency FVOCI Other (1) Accumulated other comprehensive income (loss) Balance as at January 1, 2021 $ (144) $ 52 $ (88) $ (180) Other comprehensive income (loss) 4 19 16 39 Ownership changes (38) (1) 1 (38) Balance as at June 30, 2021 $ (178) $ 70 $ (71) $ (179) ____________________________________ (1) Represents net investment hedges, cash flow hedges and other reserves. (US$ MILLIONS) Foreign currency FVOCI Other (1) Accumulated other Balance as at January 1, 2020 $ (169) $ 11 $ (60) $ (218) Other comprehensive income (loss) (127) 6 22 (99) Ownership changes — 1 — 1 Balance as at June 30, 2020 $ (296) $ 18 $ (38) $ (316) ____________________________________ (1) Represents net investment hedges, cash flow hedges and other reserves. (b) Attributable to non-controlling interests – Redemption-Exchange Units held by Brookfield Asset Management Inc. (US$ MILLIONS) Foreign currency FVOCI Other (1) Accumulated other Balance as at January 1, 2021 $ (199) $ 45 $ (77) $ (231) Other comprehensive income (loss) 4 16 16 36 Ownership changes 38 1 (2) 37 Balance as at June 30, 2021 $ (157) $ 62 $ (63) $ (158) ____________________________________ (1) Represents net investment hedges, cash flow hedges and other reserves. (US$ MILLIONS) Foreign currency FVOCI Other (1) Accumulated other Balance as at January 1, 2020 $ (221) $ 9 $ (52) $ (264) Other comprehensive income (loss) (110) 6 19 (85) Balance as at June 30, 2020 $ (331) $ 15 $ (33) $ (349) ____________________________________ (1) Represents net investment hedges, cash flow hedges and other reserves.

DIRECT OPERATING COSTS

DIRECT OPERATING COSTS	6 Months Ended
	Jun. 30, 2021
Analysis of income and expense [abstract]
DIRECT OPERATING COSTS	DIRECT OPERATING COSTS The partnership has no key employees or directors and does not remunerate key management personnel. Details of the allocation of costs incurred by Brookfield on behalf of the partnership are disclosed in Note 17. Key decision makers of the partnership are all employees of the ultimate parent company or its subsidiaries, which provides management services under the Master Services Agreement with Brookfield. Direct operating costs include all attributable expenses except interest, depreciation and amortization, impairment expense, other expenses, and taxes and primarily relate to cost of sales and compensation at the subsidiary level. The following table lists direct operating costs for the three and six months ended June 30, 2021, and June 30, 2020 by nature. Comparative figures have been reclassified to conform to current period’s presentation. Three months ended Six months ended (US$ MILLIONS) 2021 2020 2021 2020 Cost of sales $ 9,004 $ 5,440 $ 16,439 $ 13,463 Compensation 980 827 1,971 1,695 Property taxes, sales taxes and other 12 18 22 28 Total $ 9,996 $ 6,285 $ 18,432 $ 15,186 Inventories recognized as cost of sales during the three and six month period ended June 30, 2021 amounted to $7,537 million and $13,832 million, respectively (June 30, 2020: $3,531 million and $9,640 million).

REVENUES

REVENUES	6 Months Ended
	Jun. 30, 2021
Revenue [abstract]
REVENUES	REVENUES (a) Revenues by type The tables below summarize the partnership’s segment revenues by type of revenue for the three and six months ended June 30, 2021: Three months ended June 30, 2021 (US$ MILLIONS) Business services Infrastructure services Industrials Corporate Total Revenues by type Revenues from contracts with customers $ 7,431 $ 877 $ 2,547 $ — $ 10,855 Other revenues 248 128 4 — 380 Total revenues $ 7,679 $ 1,005 $ 2,551 $ — $ 11,235 Six months ended June 30, 2021 (US$ MILLIONS) Business services Infrastructure services Industrials Corporate Total Revenues by type Revenues from contracts with customers $ 13,094 $ 1,857 $ 5,358 $ — $ 20,309 Other revenues 487 259 9 — 755 Total revenues $ 13,581 $ 2,116 $ 5,367 $ — $ 21,064 The tables below summarize the partnership’s segment revenues by type of revenue for the three and six months ended June 30, 2020: Three months ended June 30, 2020 (US$ MILLIONS) Business services Infrastructure services Industrials Corporate Total Revenues by type Revenues from contracts with customers $ 3,836 $ 968 $ 2,196 $ — $ 7,000 Other revenues 217 152 1 — 370 Total revenues $ 4,053 $ 1,120 $ 2,197 $ — $ 7,370 Six months ended June 30, 2020 (US$ MILLIONS) Business services Infrastructure services Industrials Corporate Total Revenues by type Revenues from contracts with customers $ 10,176 $ 1,970 $ 4,641 $ — $ 16,787 Other revenues 406 320 3 — 729 Total revenues $ 10,582 $ 2,290 $ 4,644 $ — $ 17,516 (b) Timing of recognition of revenues from contracts with customers The tables below summarize the partnership’s segment revenues by timing of revenue recognition for the total revenues from contracts with customers for the three and six months ended June 30, 2021: Three months ended June 30, 2021 (US$ MILLIONS) Business services Infrastructure services Industrials Corporate Total Timing of revenue recognition Goods and services provided at a point in time $ 6,303 $ 239 $ 2,494 $ — $ 9,036 Services transferred over a period of time 1,128 638 53 — 1,819 Total revenues from contracts with customers $ 7,431 $ 877 $ 2,547 $ — $ 10,855 Other non IFRS 15 revenues 248 128 4 — 380 Total revenues $ 7,679 $ 1,005 $ 2,551 $ — $ 11,235 Six months ended June 30, 2021 (US$ MILLIONS) Business services Infrastructure services Industrials Corporate Total Timing of revenue recognition Goods and services provided at a point in time $ 10,967 $ 661 $ 5,272 $ — $ 16,900 Services transferred over a period of time 2,127 1,196 86 — 3,409 Total revenues from contracts with customers $ 13,094 $ 1,857 $ 5,358 $ — $ 20,309 Other non IFRS 15 revenues 487 259 9 — 755 Total revenues $ 13,581 $ 2,116 $ 5,367 $ — $ 21,064 The tables below summarize the partnership’s segment revenues by timing of revenue recognition for the total revenues from contracts with customers for the three and six months ended June 30, 2020: Three months ended June 30, 2020 (US$ MILLIONS) Business services Infrastructure services Industrials Corporate Total Timing of revenue recognition Goods and services provided at a point in time $ 2,863 $ 367 $ 2,159 $ — $ 5,389 Services transferred over a period of time 973 601 37 — 1,611 Total revenues from contracts with customers $ 3,836 $ 968 $ 2,196 $ — $ 7,000 Other non IFRS 15 revenues 217 152 1 — 370 Total revenues $ 4,053 $ 1,120 $ 2,197 $ — $ 7,370 Six months ended June 30, 2020 (US$ MILLIONS) Business services Infrastructure services Industrials Corporate Total Timing of revenue recognition Goods and services provided at a point in time $ 8,199 $ 762 $ 4,564 $ — $ 13,525 Services transferred over a period of time 1,977 1,208 77 — 3,262 Total revenues from contracts with customers $ 10,176 $ 1,970 $ 4,641 $ — $ 16,787 Other non IFRS 15 revenues 406 320 3 — 729 Total revenues $ 10,582 $ 2,290 $ 4,644 $ — $ 17,516 (c) Revenues by geography The tables below summarize the partnership’s segment revenues by geography for revenues from contracts with customers for the three and six months ended June 30, 2021: Three months ended June 30, 2021 (US$ MILLIONS) Business services Infrastructure services Industrials Corporate Total United Kingdom $ 4,603 $ 89 $ 38 $ — $ 4,730 United States of America 77 307 1,023 — 1,407 Europe 717 318 616 — 1,651 Australia 1,193 — 18 — 1,211 Canada 569 21 120 — 710 Brazil 59 20 213 — 292 Mexico — — 200 — 200 Other 213 122 319 — 654 Total revenues from contracts with customers $ 7,431 $ 877 $ 2,547 $ — $ 10,855 Other revenues 248 128 4 — 380 Total revenues $ 7,679 $ 1,005 $ 2,551 $ — $ 11,235 Six months ended June 30, 2021 (US$ MILLIONS) Business services Infrastructure services Industrials Corporate Total United Kingdom $ 8,141 $ 141 $ 86 $ — $ 8,368 United States of America 155 684 2,084 — 2,923 Europe 1,020 632 1,385 — 3,037 Australia 2,236 7 30 — 2,273 Canada 1,088 52 255 — 1,395 Brazil 107 23 406 — 536 Mexico — — 388 — 388 Other 347 318 724 — 1,389 Total revenues from contracts with customers $ 13,094 $ 1,857 $ 5,358 $ — $ 20,309 Other revenues 487 259 9 — 755 Total revenues $ 13,581 $ 2,116 $ 5,367 $ — $ 21,064 The tables below summarize the partnership’s segment revenues by geography for revenues from contracts with customers for the three and six months ended June 30, 2020: Three months ended June 30, 2020 (US$ MILLIONS) Business services Infrastructure services Industrials Corporate Total United Kingdom $ 2,000 $ 112 $ 44 $ — $ 2,156 United States of America 12 370 883 — 1,265 Europe 233 349 417 — 999 Australia 1,016 2 20 — 1,038 Canada 336 21 106 — 463 Brazil 58 16 163 — 237 Mexico — — 135 — 135 Other 181 98 428 — 707 Total revenues from contracts with customers $ 3,836 $ 968 $ 2,196 $ — $ 7,000 Other revenues 217 152 1 — 370 Total revenues $ 4,053 $ 1,120 $ 2,197 $ — $ 7,370 Six months ended June 30, 2020 (US$ MILLIONS) Business services Infrastructure services Industrials Corporate Total United Kingdom $ 6,257 $ 187 $ 91 $ — $ 6,535 United States of America 13 916 1,770 — 2,699 Europe 495 578 1,136 — 2,209 Australia 2,003 6 31 — 2,040 Canada 830 40 234 — 1,104 Brazil 201 39 369 — 609 Mexico — — 327 — 327 Other 377 204 683 — 1,264 Total revenues from contracts with customers $ 10,176 $ 1,970 $ 4,641 $ — $ 16,787 Other revenues 406 320 3 — 729 Total revenues $ 10,582 $ 2,290 $ 4,644 $ — $ 17,516

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Jun. 30, 2021
Operating Segments [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The partnership’s operations are organized into four operating segments which are regularly reviewed by the Chief Operating Decision Makers (“CODM”) for the purpose of allocating resources to the segment and to assess its performance. The key measures used by the CODM in assessing performance and in making resource allocation decisions are company funds from operations (“Company FFO”) and Company EBITDA. Company FFO is calculated as the partnership’s share of net income and equity accounted income excluding the impact of depreciation and amortization, deferred income taxes, transaction costs, non-cash valuation gains or losses, impairment expense and other items. In order to provide additional insight regarding performance on a cumulative realized basis, Company FFO includes realized disposition gains or losses, along with associated tax impacts, recorded in net income, other comprehensive income, or directly in equity, such as ownership changes. These include gains or losses arising from transactions during the reporting period together with fair value changes recorded in prior periods. Company EBITDA is calculated as Company FFO excluding the impact of the partnership’s share of realized disposition gains and losses, interest income and expense, and current income taxes. The tables below provide each segment’s results in the format that the CODM organizes reporting segments to make resource allocation decisions and assess performance. Each segment is presented on a proportionate basis, taking into account the partnership’s ownership in operations accounted for using the consolidation and equity methods under IFRS. The tables below reconcile the partnership’s share of its consolidated results to the partnership’s IFRS consolidated statements of operating results on a line by line basis. Three months ended June 30, 2021 Total attributable to Unitholders Attributable to non-controlling interests As per IFRS Financials (US$ MILLIONS) Business Infrastructure services Industrials Corporate Total (1) Revenues $ 2,401 $ 436 $ 716 $ — $ 3,553 $ 7,682 $ 11,235 Direct operating costs (2,220) (325) (574) (4) (3,123) (6,873) (9,996) General and administrative expenses (41) (18) (17) (30) (106) (147) (253) Equity accounted Company EBITDA (2) 5 32 20 — 57 22 79 Company EBITDA 145 125 145 (34) 381 Gain (loss) on acquisitions / dispositions, net (3) — — 170 — 170 8 178 Other income (expense), net (4) (1) 1 — — — (4) (4) Interest income (expense), net (19) (38) (57) (3) (117) (234) (351) Current income tax (expense) recovery (30) (1) (32) 12 (51) (67) (118) Realized disposition gain, current income taxes and interest expense related to equity accounted investments (2) (2) (15) (10) — (27) (5) (32) Company FFO 93 72 216 (25) 356 Depreciation and amortization expense (5) (191) (362) (553) Gain (loss) on acquisitions / dispositions, net (3) (163) 1 (162) Other income (expense), net (4) (30) (63) (93) Deferred income tax (expense) recovery 41 40 81 Non-cash items attributable to equity accounted investments (2) (28) (12) (40) Net income (loss) $ (15) $ (14) $ (29) ____________________________________ (1) Company EBITDA, Company FFO and net income (loss) attributable to Unitholders include Company EBITDA, Company FFO, and net income (loss) attributable to LP Units, GP Units, Redemption-Exchange Units and Special LP Units, respectively. (2) The sum of these amounts equates to equity accounted income (loss), net of $7 million as per the unaudited interim condensed consolidated statements of operating results. (3) The sum of these amounts equates to the gain (loss) on acquisitions/dispositions, net of $16 million as per the unaudited interim condensed consolidated statements of operating results. (4) The sum of these amounts equates to other income (expense), net of $(97) million as per the unaudited interim condensed consolidated statements of operating results. (5) For the three month period ended June 30, 2021, depreciation and amortization expense by segment is as follows: business services $121 million, infrastructure services $176 million, industrials $256 million, and corporate and other $nil. Six months ended June 30, 2021 Total attributable to Unitholders Attributable to non-controlling interests As per IFRS Financials (US$ MILLIONS) Business Infrastructure services Industrials Corporate Total (1) Revenues $ 4,323 $ 916 $ 1,487 $ — $ 6,726 $ 14,338 $ 21,064 Direct operating costs (4,007) (680) (1,170) (7) (5,864) (12,568) (18,432) General and administrative expenses (75) (35) (40) (52) (202) (302) (504) Equity accounted Company EBITDA (2) 8 60 40 — 108 67 175 Company EBITDA 249 261 317 (59) 768 Gain (loss) on acquisitions / dispositions, net (3) — — 572 — 572 740 1,312 Other income (expense), net (4) (3) — — — (3) (14) (17) Interest income (expense), net (31) (77) (115) (7) (230) (469) (699) Current income tax (expense) recovery (5) (48) (8) (123) 22 (157) (163) (320) Realized disposition gain, current income taxes and interest expense related to equity accounted investments (2) (4) (31) (14) — (49) (12) (61) Company FFO 163 145 637 (44) 901 Depreciation and amortization expense (6) (373) (722) (1,095) Impairment expense, net (58) (143) (201) Gain (loss) on acquisitions / dispositions, net (3) 60 451 511 Current income tax (expense) recovery (5) 9 — 9 Other income (expense), net (4) (5) (36) (41) Deferred income tax (expense) recovery 35 80 115 Non-cash items attributable to equity accounted investments (2) (54) (24) (78) Net income (loss) $ 515 $ 1,223 $ 1,738 ____________________________________ (1) Company EBITDA, Company FFO and net income (loss) attributable to Unitholders include Company EBITDA, Company FFO, and net income (loss) attributable to LP Units, GP Units, Redemption-Exchange Units and Special LP Units, respectively. (2) The sum of these amounts equates to equity accounted income (loss), net of $36 million as per the unaudited interim condensed consolidated statements of operating results. (3) The sum of these amounts equates to the gain (loss) on acquisitions/dispositions, net of $1,823 million as per the unaudited interim condensed consolidated statements of operating results. (4) The sum of these amounts equates to other income (expense), net of $(58) million as per the unaudited interim condensed consolidated statements of operating results. (5) The sum of these amounts equates to current income tax (expense) recovery of $(311) million as per the unaudited interim condensed consolidated statements of operating results. (6) For the six month period ended June 30, 2021, depreciation and amortization expense by segment is as follows: business services $224 million, infrastructure services $348 million, industrials $523 million, and corporate and other $nil. Three months ended June 30, 2020 Total attributable to Unitholders Attributable to non-controlling interests As per IFRS Financials (US$ MILLIONS) Business Infrastructure services Industrials Corporate Total (1) Revenues $ 1,593 $ 485 $ 612 $ — $ 2,690 $ 4,680 $ 7,370 Direct operating costs (1,503) (344) (500) (3) (2,350) (3,935) (6,285) General and administrative expenses (29) (23) (19) (21) (92) (136) (228) Equity accounted Company EBITDA (2) 3 30 5 — 38 25 63 Company EBITDA 64 148 98 (24) 286 Gain (loss) on acquisitions / dispositions, net — — — — — (4) (4) Other income (expense), net (3) 1 (10) 1 — (8) (11) (19) Interest income (expense), net (16) (35) (63) (1) (115) (238) (353) Current income tax (expense) recovery (9) (2) 27 10 26 (49) (23) Realized disposition gain, current income taxes and interest expense related to equity accounted investments (2) (1) (14) (1) — (16) (6) (22) Company FFO 39 87 62 (15) 173 Depreciation and amortization expense (4) (179) (354) (533) Impairment expense, net (11) (18) (29) Other income (expense), net (3) (87) 255 168 Deferred income tax (expense) recovery 12 55 67 Non-cash items attributable to equity accounted investments (2) (17) (6) (23) Net income (loss) $ (109) $ 258 $ 149 ____________________________________ (1) Company EBITDA, Company FFO and net income (loss) attributable to Unitholders include Company EBITDA, Company FFO, and net income (loss) attributable to LP Units, GP Units, Redemption-Exchange Units and Special LP Units, respectively. (2) The sum of these amounts equates to equity accounted income (loss), net of $18 million as per the unaudited interim condensed consolidated statements of operating results. (3) The sum of these amounts equates to other income (expense), net of $149 million as per the unaudited interim condensed consolidated statements of operating results. (4) For the three month period ended June 30, 2020, depreciation and amortization expense by segment is as follows: business services $103 million, infrastructure services $163 million, industrials $267 million, and corporate and other $nil. Six months ended June 30, 2020 Total attributable to Unitholders Attributable to non-controlling interests As per IFRS Financials (US$ MILLIONS) Business Infrastructure services Industrials Corporate Total (1) Revenues $ 3,605 $ 983 $ 1,307 $ — $ 5,895 $ 11,621 $ 17,516 Direct operating costs (3,468) (691) (1,028) (5) (5,192) (9,994) (15,186) General and administrative expenses (65) (39) (48) (45) (197) (275) (472) Equity accounted Company EBITDA (2) 11 51 12 — 74 61 135 Company EBITDA 83 304 243 (50) 580 Gain (loss) on acquisitions / dispositions, net 46 — (1) — 45 134 179 Other income (expense), net (3) 3 (13) 1 — (9) (10) (19) Interest income (expense), net (31) (75) (128) 5 (229) (488) (717) Current income tax (expense) recovery (18) (4) 6 21 5 (103) (98) Realized disposition gain, current income taxes and interest expense related to equity accounted investments (2) (2) (21) (2) — (25) (11) (36) Company FFO 81 191 119 (24) 367 Depreciation and amortization expense (4) (358) (713) (1,071) Impairment expense, net (63) (79) (142) Other income (expense), net (3) (183) 134 (49) Deferred income tax (expense) recovery 59 106 165 Non-cash items attributable to equity accounted investments (2) (57) (33) (90) Net income (loss) $ (235) $ 350 $ 115 ____________________________________ (1) Company EBITDA, Company FFO and net income (loss) attributable to Unitholders include Company EBITDA, Company FFO, and net income (loss) attributable to LP Units, GP Units, Redemption-Exchange Units and Special LP Units, respectively. (2) The sum of these amounts equates to equity accounted income (loss), net of $9 million as per the unaudited interim condensed consolidated statements of operating results. (3) The sum of these amounts equates to other income (expense), net of $(68) million as per the unaudited interim condensed consolidated statements of operating results. (4) For the six month period ended June 30, 2020, depreciation and amortization expense by segment is as follows: business services $213 million, infrastructure services $328 million, industrials $530 million, and corporate and other $nil. Segment Assets For the purpose of monitoring segment performance and allocating resources between segments, the CODM monitors the assets, including investments accounted for using the equity method, attributable to each segment. The following is an analysis of the partnership’s assets by reportable operating segment as at June 30, 2021 and December 31, 2020: As at June 30, 2021 (US$ MILLIONS) Business services Infrastructure services Industrials Corporate Total Total assets $ 21,199 $ 10,430 $ 21,819 $ 77 $ 53,525 As at December 31, 2020 (US$ MILLIONS) Business services Infrastructure services Industrials Corporate Total Total assets $ 19,884 $ 10,839 $ 23,929 $ 94 $ 54,746

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	6 Months Ended
	Jun. 30, 2021
Cash Flow Statement [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	SUPPLEMENTAL CASH FLOW INFORMATION Six months ended (US$ MILLIONS) 2021 2020 Interest paid $ 608 $ 565 Income taxes paid $ 228 $ 102 Amounts paid and received for interest were reflected as operating cash flows in the unaudited interim condensed consolidated statements of cash flow. Details of “ Changes in non-cash working capital, net ” in the unaudited interim condensed consolidated statements of cash flow are as follows: Six months ended (US$ MILLIONS) 2021 2020 Accounts receivable $ (401) $ 637 Inventory (339) 200 Prepayments and other (125) 89 Accounts payable and other 580 (102) Changes in non-cash working capital, net $ (285) $ 824

INSURANCE CONTRACTS

INSURANCE CONTRACTS	6 Months Ended
	Jun. 30, 2021
Insurance Contracts [Abstract]
INSURANCE CONTRACTS	INSURANCE CONTRACTS The following summarizes the balances related to the partnership’s insurance contracts at its residential mortgage insurer: (a) Premiums and unearned premiums reserve (US$ MILLIONS) June 30, 2021 December 31, 2020 Unearned premiums reserve, beginning of the period $ 1,889 $ 1,625 Premiums written during the period 486 744 Premiums earned during the period (308) (521) Foreign currency translation 51 41 Unearned premiums reserve, end of the period $ 2,118 $ 1,889 (b) Losses on claims and loss reserves (US$ MILLIONS) June 30, 2021 December 31, 2020 Case reserves $ 63 $ 78 Incurred but not reported reserves 42 53 Discounting (1) (1) Provision for adverse deviation 10 14 Total loss reserves $ 114 $ 144 The following table presents movement in loss reserves and the impact on losses on claims: (US$ MILLIONS) June 30, 2021 December 31, 2020 Loss reserves, beginning of the period $ 144 $ 105 Claims paid during the period (26) (50) Losses on claims related to the current period (7) 85 Foreign currency translation 3 4 Loss reserves, end of the period $ 114 $ 144

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2021
Events After Reporting Period [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS (a) Distribution On August 5, 2021, the Board of Directors declared a quarterly distribution in the amount of $0.0625 per unit, payable on September 29, 2021 to unitholders of record as at the close of business on August 31, 2021.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2021
Corporate Information And Statement Of IFRS Compliance [Abstract]
Basis of presentation	Basis of presentation These unaudited interim condensed consolidated financial statements of the partnership have been prepared in accordance with International Accounting Standard 34, Interim Financial Reporting (“IAS 34”), as issued by the International Accounting Standards Board, or the IASB, and using the accounting policies the partnership applied in its annual consolidated financial statements as at and for the year ended December 31, 2020, except for the impact of the adoption of the new accounting policies and standards described below. The accounting policies the partnership applied in its annual consolidated financial statements as at and for the year ended December 31, 2020 are disclosed in Note 2 of such consolidated financial statements, with which reference should be made in reading these unaudited interim condensed consolidated financial statements. All defined terms are also described in the annual consolidated financial statements. The unaudited interim condensed consolidated financial statements are prepared on a going concern basis and have been presented in U.S. dollars rounded to the nearest million unless otherwise indicated. The preparation of financial statements in accordance with IAS 34 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the accounting policies. The critical accounting estimates and judgments have been set out in Note 2 to the partnership’s consolidated financial statements as at and for the year ended December 31, 2020. There have been no significant changes to the method of determining significant estimates and judgments since December 31, 2020. These unaudited interim condensed consolidated financial statements were approved by the partnership’s Board of Directors and authorized for issue on August 6, 2021.
Critical accounting judgments and measurement uncertainty	Critical accounting judgments and measurement uncertainty The preparation of financial statements requires management to make critical judgments, estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses that are not readily apparent from other sources, during the reporting period. These estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. In March 2020, the World Health Organization declared a global pandemic related to COVID-19. To date, there has been significant volatility in capital markets, commodity prices and foreign currencies, restrictions on the conduct of business in many jurisdictions, and the global movement of people and some goods has become restricted. The partnership considered the impacts of these circumstances on the key critical judgments, estimates and assumptions that affect the reported and contingent amount of assets, liabilities, revenues and expenses, including whether goodwill, intangible assets and property, plant and equipment needed to be reevaluated for impairment as of June 30, 2021. The partnership has a diversified portfolio of operating businesses, many of which provide essential products and services to their customers. Based on its assessments, no additional impairments were required as at June 30, 2021. The partnership will continue to monitor the situation and review its critical estimates and judgments as circumstances evolve.
New accounting policies adopted	New accounting policies adopted (i) IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 amendments for IBOR reform The amendments provide temporary relief which address the financial reporting effects when an interbank offered rate (“IBOR”) is replaced with an alternative nearly risk-free interest rate (“RFR”). The amendments include the following practical expedients: • A practical expedient to require contractual changes, or changes to cash flows that are directly required by the reform, to be treated as changes to a floating interest rate, equivalent to a movement in a market rate of interest; • Permit changes required by IBOR reform to be made to hedge designations and hedge documentation without the hedging relationship being discontinued; and • Provide temporary relief to entities from having to meet the separately identifiable requirement when an RFR instrument is designated as a hedge of a risk component. These amendments had no impact on the unaudited interim condensed consolidated financial statements of the partnership. The partnership intends to use the practical expedients in future periods when they become applicable.
Future changes in accounting policies	Future changes in accounting policies (i) Insurance contracts In May 2017, the IASB published IFRS 17, Insurance contracts (“IFRS 17”), a comprehensive standard that establishes principles for the recognition, measurement, presentation and disclosure of insurance contracts. IFRS 17 will replace IFRS 4, Insurance contracts . In June 2020, the IASB decided on a further deferral of the effective date of IFRS 17 from annual periods beginning on or after January 1, 2021 to annual periods beginning on or after January 1, 2023. The measurement approach under IFRS 17 is based on the following: • fulfillment cash flows which comprise: ◦ a current, unbiased probability-weighted estimate of future cash flows expected to arise as the insurer fulfills the contract; ◦ the effect of the time value of money; and ◦ a risk adjustment that measures the effects of uncertainty about the amount and timing of future cash flows; • a contractual service margin which represents the unearned profit in a contract and that is recognized in profit or loss over time as the insurance coverage is provided. There will also be a new financial statement presentation for insurance contracts and additional disclosure requirements. IFRS 17 requires the partnership to distinguish between groups of contracts expected to be profit-making and groups of contracts expected to be onerous. IFRS 17 is to be applied retrospectively to each group of insurance contracts. If full retrospective application to a group of contracts is impracticable, the modified retrospective or fair value method may be used. The partnership is currently assessing the impact of IFRS 17 on its financial statements. (ii) Amendments to IAS 1 – Presentation of Financial Statements (“IAS 1”) The amendments clarify how to classify debt and other liabilities as current or non-current. The amendments to IAS 1 apply to annual reporting periods beginning on or after January 1, 2023. The partnership is currently assessing the impact of these amendments. (iii) Amendment to IAS 12 – Income taxes (“IAS 12”) The amendment clarifies that the initial recognition exception does not apply to the initial recognition of leases and decommissioning obligations. The amendment to IAS 12 applies to annual reporting periods beginning on or after January 1, 2023. The partnership is currently assessing the impact of these amendments. There are currently no other future changes to IFRS with potential impact on the partnership.

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2021
Fair Value Measurement [Abstract]
Financial assets classification	The following table provides the details of financial instruments and their associated classifications as at June 30, 2021: (US$ MILLIONS) MEASUREMENT BASIS FVTPL FVOCI Amortized cost Total Financial assets Cash and cash equivalents $ — $ — $ 2,076 $ 2,076 Accounts and other receivable, net (current and non-current) — — 5,239 5,239 Other assets (current and non-current) (1) — — 565 565 Financial assets (current and non-current) (2) 723 6,335 1,705 8,763 Total $ 723 $ 6,335 $ 9,585 $ 16,643 Financial liabilities Accounts payable and other (current and non-current) (2) (3) $ 265 $ 316 $ 9,550 $ 10,131 Borrowings (current and non-current) — — 22,285 22,285 Total $ 265 $ 316 $ 31,835 $ 32,416 ____________________________________ (1) Excludes prepayments, subrogation recoverable, deferred policy acquisition costs and assets held for sale of $1,180 million. (2) Refer to Hedging Activities in Note 4(a) below. (3) Includes derivative liabilities, and excludes provisions, decommissioning liabilities, deferred revenues, unearned premium reserve, work in progress, post-employment benefits, liabilities held for sale and various taxes and duties of $8,327 million. The following table provides the allocation of financial instruments and their associated classifications as at December 31, 2020: (US$ MILLIONS) MEASUREMENT BASIS FVTPL FVOCI Amortized cost Total Financial assets Cash and cash equivalents $ — $ — $ 2,743 $ 2,743 Accounts and other receivable, net (current and non-current) — — 4,989 4,989 Other assets (current and non-current) (1) — — 536 536 Financial assets (current and non-current) (2) 933 5,561 2,302 8,796 Total (3) $ 933 $ 5,561 $ 10,570 $ 17,064 Financial liabilities Accounts payable and other (2) (4) $ 435 $ 370 $ 9,063 $ 9,868 Borrowings (current and non-current) — — 23,776 23,776 Total $ 435 $ 370 $ 32,839 $ 33,644 ____________________________________ (1) Excludes prepayments, subrogation recoverable and other assets of $1,048 million. (2) Refer to Hedging Activities in Note 4(a) below. (3) Total financial assets include $4,704 million of assets pledged as collateral. (4) Includes derivative liabilities and excludes provisions, decommissioning liabilities, deferred revenues, unearned premium reserve, work in progress, post-employment benefits, liabilities held for sale and various taxes and duties of $8,064 million. (US$ MILLIONS) June 30, 2021 December 31, 2020 Current Marketable securities $ 1,285 $ 995 Restricted cash 436 833 Derivative contracts 149 167 Loans and notes receivable 244 195 Other financial assets (1) 167 385 Total current $ 2,281 $ 2,575 Non-current Marketable securities $ 3,875 $ 3,535 Restricted cash 279 272 Derivative contracts 87 110 Loans and notes receivable 745 1,002 Other financial assets (1) 1,496 1,302 Total non-current $ 6,482 $ 6,221 ____________________________________ (1) Other financial assets include secured debentures, asset-backed securities and preferred shares in the partnership’s business services segment. (US$ MILLIONS) June 30, 2021 December 31, 2020 Current, net $ 4,511 $ 4,306 Non-current, net Accounts receivable 56 60 Retainer on customer contract 68 68 Billing rights 604 555 Total non-current, net $ 728 $ 683 Total $ 5,239 $ 4,989
Financial liabilities classification	The following table provides the details of financial instruments and their associated classifications as at June 30, 2021: (US$ MILLIONS) MEASUREMENT BASIS FVTPL FVOCI Amortized cost Total Financial assets Cash and cash equivalents $ — $ — $ 2,076 $ 2,076 Accounts and other receivable, net (current and non-current) — — 5,239 5,239 Other assets (current and non-current) (1) — — 565 565 Financial assets (current and non-current) (2) 723 6,335 1,705 8,763 Total $ 723 $ 6,335 $ 9,585 $ 16,643 Financial liabilities Accounts payable and other (current and non-current) (2) (3) $ 265 $ 316 $ 9,550 $ 10,131 Borrowings (current and non-current) — — 22,285 22,285 Total $ 265 $ 316 $ 31,835 $ 32,416 ____________________________________ (1) Excludes prepayments, subrogation recoverable, deferred policy acquisition costs and assets held for sale of $1,180 million. (2) Refer to Hedging Activities in Note 4(a) below. (3) Includes derivative liabilities, and excludes provisions, decommissioning liabilities, deferred revenues, unearned premium reserve, work in progress, post-employment benefits, liabilities held for sale and various taxes and duties of $8,327 million. The following table provides the allocation of financial instruments and their associated classifications as at December 31, 2020: (US$ MILLIONS) MEASUREMENT BASIS FVTPL FVOCI Amortized cost Total Financial assets Cash and cash equivalents $ — $ — $ 2,743 $ 2,743 Accounts and other receivable, net (current and non-current) — — 4,989 4,989 Other assets (current and non-current) (1) — — 536 536 Financial assets (current and non-current) (2) 933 5,561 2,302 8,796 Total (3) $ 933 $ 5,561 $ 10,570 $ 17,064 Financial liabilities Accounts payable and other (2) (4) $ 435 $ 370 $ 9,063 $ 9,868 Borrowings (current and non-current) — — 23,776 23,776 Total $ 435 $ 370 $ 32,839 $ 33,644 ____________________________________ (1) Excludes prepayments, subrogation recoverable and other assets of $1,048 million. (2) Refer to Hedging Activities in Note 4(a) below. (3) Total financial assets include $4,704 million of assets pledged as collateral. (4) Includes derivative liabilities and excludes provisions, decommissioning liabilities, deferred revenues, unearned premium reserve, work in progress, post-employment benefits, liabilities held for sale and various taxes and duties of $8,064 million.
Carrying and fair values of financial assets	The following table categorizes financial assets and liabilities, which are carried at fair value, based upon the level of input as at June 30, 2021 and December 31, 2020: June 30, 2021 December 31, 2020 (US$ MILLIONS) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Financial assets Common shares $ 809 $ — $ — $ 481 $ — $ — Corporate and government bonds 162 4,186 — — 4,049 — Derivative assets 5 231 — 46 231 — Other financial assets (1) 629 617 417 775 571 341 $ 1,605 $ 5,034 $ 417 $ 1,302 $ 4,851 $ 341 Financial liabilities Derivative liabilities $ 25 $ 479 $ — $ 72 $ 722 $ — Other financial liabilities — — 77 — — 11 $ 25 $ 479 $ 77 $ 72 $ 722 $ 11 ____________________________________ (1) Other financial assets include secured debentures, asset-backed securities and preferred shares in the partnership’s business services segment. Level 1 other financial assets are primarily publicly traded preferred shares and mutual funds. Level 2 other financial assets are primarily asset-backed securities and Level 3 financial assets are primarily secured debentures.
Carrying and fair values of financial liabilities	The following table categorizes financial assets and liabilities, which are carried at fair value, based upon the level of input as at June 30, 2021 and December 31, 2020: June 30, 2021 December 31, 2020 (US$ MILLIONS) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Financial assets Common shares $ 809 $ — $ — $ 481 $ — $ — Corporate and government bonds 162 4,186 — — 4,049 — Derivative assets 5 231 — 46 231 — Other financial assets (1) 629 617 417 775 571 341 $ 1,605 $ 5,034 $ 417 $ 1,302 $ 4,851 $ 341 Financial liabilities Derivative liabilities $ 25 $ 479 $ — $ 72 $ 722 $ — Other financial liabilities — — 77 — — 11 $ 25 $ 479 $ 77 $ 72 $ 722 $ 11 ____________________________________ (1) Other financial assets include secured debentures, asset-backed securities and preferred shares in the partnership’s business services segment. Level 1 other financial assets are primarily publicly traded preferred shares and mutual funds. Level 2 other financial assets are primarily asset-backed securities and Level 3 financial assets are primarily secured debentures.
Schedule of significant unobservable inputs used and change in balance of financial assets	The following table presents the change in the balance of financial assets classified as Level 3 as at June 30, 2021 and December 31, 2020: (US$ MILLIONS) June 30, 2021 December 31, 2020 Balance at beginning of period $ 341 $ 287 Fair value change recorded in net income (5) (2) Fair value change recorded in other comprehensive income 13 (3) Additions 69 221 Disposals (1) (162) Balance at end of period $ 417 $ 341
Schedule of significant unobservable inputs used and change in balance of financial liabilities	The following table presents the change in the balance of financial assets classified as Level 3 as at June 30, 2021 and December 31, 2020: (US$ MILLIONS) June 30, 2021 December 31, 2020 Balance at beginning of period $ 341 $ 287 Fair value change recorded in net income (5) (2) Fair value change recorded in other comprehensive income 13 (3) Additions 69 221 Disposals (1) (162) Balance at end of period $ 417 $ 341

FINANCIAL ASSETS (Tables)

FINANCIAL ASSETS (Tables)	6 Months Ended
	Jun. 30, 2021
Financial Instruments [Abstract]
Disclosure of financial assets	The following table provides the details of financial instruments and their associated classifications as at June 30, 2021: (US$ MILLIONS) MEASUREMENT BASIS FVTPL FVOCI Amortized cost Total Financial assets Cash and cash equivalents $ — $ — $ 2,076 $ 2,076 Accounts and other receivable, net (current and non-current) — — 5,239 5,239 Other assets (current and non-current) (1) — — 565 565 Financial assets (current and non-current) (2) 723 6,335 1,705 8,763 Total $ 723 $ 6,335 $ 9,585 $ 16,643 Financial liabilities Accounts payable and other (current and non-current) (2) (3) $ 265 $ 316 $ 9,550 $ 10,131 Borrowings (current and non-current) — — 22,285 22,285 Total $ 265 $ 316 $ 31,835 $ 32,416 ____________________________________ (1) Excludes prepayments, subrogation recoverable, deferred policy acquisition costs and assets held for sale of $1,180 million. (2) Refer to Hedging Activities in Note 4(a) below. (3) Includes derivative liabilities, and excludes provisions, decommissioning liabilities, deferred revenues, unearned premium reserve, work in progress, post-employment benefits, liabilities held for sale and various taxes and duties of $8,327 million. The following table provides the allocation of financial instruments and their associated classifications as at December 31, 2020: (US$ MILLIONS) MEASUREMENT BASIS FVTPL FVOCI Amortized cost Total Financial assets Cash and cash equivalents $ — $ — $ 2,743 $ 2,743 Accounts and other receivable, net (current and non-current) — — 4,989 4,989 Other assets (current and non-current) (1) — — 536 536 Financial assets (current and non-current) (2) 933 5,561 2,302 8,796 Total (3) $ 933 $ 5,561 $ 10,570 $ 17,064 Financial liabilities Accounts payable and other (2) (4) $ 435 $ 370 $ 9,063 $ 9,868 Borrowings (current and non-current) — — 23,776 23,776 Total $ 435 $ 370 $ 32,839 $ 33,644 ____________________________________ (1) Excludes prepayments, subrogation recoverable and other assets of $1,048 million. (2) Refer to Hedging Activities in Note 4(a) below. (3) Total financial assets include $4,704 million of assets pledged as collateral. (4) Includes derivative liabilities and excludes provisions, decommissioning liabilities, deferred revenues, unearned premium reserve, work in progress, post-employment benefits, liabilities held for sale and various taxes and duties of $8,064 million. (US$ MILLIONS) June 30, 2021 December 31, 2020 Current Marketable securities $ 1,285 $ 995 Restricted cash 436 833 Derivative contracts 149 167 Loans and notes receivable 244 195 Other financial assets (1) 167 385 Total current $ 2,281 $ 2,575 Non-current Marketable securities $ 3,875 $ 3,535 Restricted cash 279 272 Derivative contracts 87 110 Loans and notes receivable 745 1,002 Other financial assets (1) 1,496 1,302 Total non-current $ 6,482 $ 6,221 ____________________________________ (1) Other financial assets include secured debentures, asset-backed securities and preferred shares in the partnership’s business services segment. (US$ MILLIONS) June 30, 2021 December 31, 2020 Current, net $ 4,511 $ 4,306 Non-current, net Accounts receivable 56 60 Retainer on customer contract 68 68 Billing rights 604 555 Total non-current, net $ 728 $ 683 Total $ 5,239 $ 4,989

ACCOUNTS AND OTHER RECEIVABLE_2

ACCOUNTS AND OTHER RECEIVABLE, NET (Tables)	6 Months Ended
	Jun. 30, 2021
Subclassifications of assets, liabilities and equities [abstract]
Disclosure of financial assets	The following table provides the details of financial instruments and their associated classifications as at June 30, 2021: (US$ MILLIONS) MEASUREMENT BASIS FVTPL FVOCI Amortized cost Total Financial assets Cash and cash equivalents $ — $ — $ 2,076 $ 2,076 Accounts and other receivable, net (current and non-current) — — 5,239 5,239 Other assets (current and non-current) (1) — — 565 565 Financial assets (current and non-current) (2) 723 6,335 1,705 8,763 Total $ 723 $ 6,335 $ 9,585 $ 16,643 Financial liabilities Accounts payable and other (current and non-current) (2) (3) $ 265 $ 316 $ 9,550 $ 10,131 Borrowings (current and non-current) — — 22,285 22,285 Total $ 265 $ 316 $ 31,835 $ 32,416 ____________________________________ (1) Excludes prepayments, subrogation recoverable, deferred policy acquisition costs and assets held for sale of $1,180 million. (2) Refer to Hedging Activities in Note 4(a) below. (3) Includes derivative liabilities, and excludes provisions, decommissioning liabilities, deferred revenues, unearned premium reserve, work in progress, post-employment benefits, liabilities held for sale and various taxes and duties of $8,327 million. The following table provides the allocation of financial instruments and their associated classifications as at December 31, 2020: (US$ MILLIONS) MEASUREMENT BASIS FVTPL FVOCI Amortized cost Total Financial assets Cash and cash equivalents $ — $ — $ 2,743 $ 2,743 Accounts and other receivable, net (current and non-current) — — 4,989 4,989 Other assets (current and non-current) (1) — — 536 536 Financial assets (current and non-current) (2) 933 5,561 2,302 8,796 Total (3) $ 933 $ 5,561 $ 10,570 $ 17,064 Financial liabilities Accounts payable and other (2) (4) $ 435 $ 370 $ 9,063 $ 9,868 Borrowings (current and non-current) — — 23,776 23,776 Total $ 435 $ 370 $ 32,839 $ 33,644 ____________________________________ (1) Excludes prepayments, subrogation recoverable and other assets of $1,048 million. (2) Refer to Hedging Activities in Note 4(a) below. (3) Total financial assets include $4,704 million of assets pledged as collateral. (4) Includes derivative liabilities and excludes provisions, decommissioning liabilities, deferred revenues, unearned premium reserve, work in progress, post-employment benefits, liabilities held for sale and various taxes and duties of $8,064 million. (US$ MILLIONS) June 30, 2021 December 31, 2020 Current Marketable securities $ 1,285 $ 995 Restricted cash 436 833 Derivative contracts 149 167 Loans and notes receivable 244 195 Other financial assets (1) 167 385 Total current $ 2,281 $ 2,575 Non-current Marketable securities $ 3,875 $ 3,535 Restricted cash 279 272 Derivative contracts 87 110 Loans and notes receivable 745 1,002 Other financial assets (1) 1,496 1,302 Total non-current $ 6,482 $ 6,221 ____________________________________ (1) Other financial assets include secured debentures, asset-backed securities and preferred shares in the partnership’s business services segment. (US$ MILLIONS) June 30, 2021 December 31, 2020 Current, net $ 4,511 $ 4,306 Non-current, net Accounts receivable 56 60 Retainer on customer contract 68 68 Billing rights 604 555 Total non-current, net $ 728 $ 683 Total $ 5,239 $ 4,989

INVENTORY, NET (Tables)

INVENTORY, NET (Tables)	6 Months Ended
	Jun. 30, 2021
Inventories [Abstract]
Disclosure of current inventories	(US$ MILLIONS) June 30, 2021 December 31, 2020 Raw materials and consumables $ 953 $ 980 Fuel products (1) 697 648 Work in progress 614 638 RTFO certificates (2) 464 365 Finished goods and other (3) 1,223 1,065 Carrying amount of inventories $ 3,951 $ 3,696 ____________________________________ (1) Fuel products that are traded in active markets are purchased with a view to resell in the near future. As a result, these stocks of fuel products are recorded at fair value based on quoted market prices. (2) Renewable Transport Fuel Obligations (“RTFO”) certificates held for trading as at June 30, 2021 have a fair value of $nil (December 31, 2020: $25 million). There is no externally quoted marketplace for the valuation of RTFO certificates. In order to value these contracts, the partnership has adopted a pricing methodology combining both observable inputs based on market data and assumptions developed internally based on observable market activity. (3) Finished goods and other are mainly composed of finished goods inventory in the infrastructure services and industrials segments.

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	6 Months Ended
	Jun. 30, 2021
Subclassifications of assets, liabilities and equities [abstract]
Disclosure of Other Assets	(US$ MILLIONS) June 30, 2021 December 31, 2020 Current Work in progress (1) $ 523 $ 488 Prepayments and other assets 801 650 Assets held for sale 48 35 Total current $ 1,372 $ 1,173 Non-current Work in progress (1) $ 41 $ 48 Prepayments and other assets 332 363 Total non-current $ 373 $ 411 ____________________________________ (1) See Note 15 for additional information.

PROPERTY PLANT AND EQUIPMENT (T

PROPERTY PLANT AND EQUIPMENT (Tables)	6 Months Ended
	Jun. 30, 2021
Property, plant and equipment [abstract]
Disclosure of detailed information about property, plant and equipment	(US$ MILLIONS) June 30, 2021 December 31, 2020 Gross carrying amount Balance at beginning of period $ 18,004 $ 16,502 Additions 582 1,526 Dispositions (1) (948) (599) Acquisitions through business combinations (2) 69 79 Assets reclassified as held for sale (18) (56) Foreign currency translation and other (35) 552 Balance at end of period $ 17,654 $ 18,004 Accumulated depreciation and impairment Balance at beginning of period $ (4,022) $ (2,610) Depreciation/depletion/impairment expense (880) (1,686) Dispositions (1) 387 316 Assets reclassified as held for sale 11 26 Foreign currency translation and other (31) (68) Balance at end of period $ (4,535) $ (4,022) Net book value (3) $ 13,119 $ 13,982 ____________________________________ (1) During the first quarter of 2021, the partnership derecognized $505 million of property, plant and equipment, net of accumulated amortization, related to the deconsolidation of the partnership’s graphite electrode operations on March 1, 2021. Refer to Note 8 for additional information. (2) See Note 3 for additional information. (3) Includes right-of-use assets of $1,250 million as at June 30, 2021 and $1,252 million as at December 31, 2020.

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2021
Intangible Assets [Abstract]
Disclosure of reconciliation of changes in intangible assets	(US$ MILLIONS) June 30, 2021 December 31, 2020 Gross carrying amount Balance at beginning of period $ 12,874 $ 12,504 Additions 136 610 Dispositions (1) (148) (173) Acquisitions through business combinations (2) 91 171 Assets reclassified as held for sale — (1) Foreign currency translation 7 (237) Balance at end of period $ 12,960 $ 12,874 Accumulated amortization and impairment Balance at beginning of period $ (1,613) $ (945) Amortization/impairment expense (391) (752) Dispositions (1) 73 90 Foreign currency translation (3) (6) Balance at end of period $ (1,934) $ (1,613) Net book value $ 11,026 $ 11,261 ____________________________________ (1) The partnership derecognized $71 million of intangible assets, net of accumulated amortization, related to the deconsolidation of the partnership’s graphite electrode operations on March 1, 2021. Refer to Note 8 for additional information. (2) See Note 3 for additional information. (US$ MILLIONS) June 30, 2021 December 31, 2020 Balance at beginning of period $ 5,244 $ 5,218 Acquisitions through business combinations (1) 301 (83) Dispositions (2) (171) (215) Foreign currency translation (90) 324 Balance at end of period $ 5,284 $ 5,244 ____________________________________ (1) See Note 3 for additional information. (2) Relates to the deconsolidation of the partnership’s graphite electrode operations on March 1, 2021. Refer to Note 8 for additional information.

GOODWILL (Tables)

GOODWILL (Tables)	6 Months Ended
	Jun. 30, 2021
Intangible Assets [Abstract]
Disclosure of reconciliation of changes in Goodwill	(US$ MILLIONS) June 30, 2021 December 31, 2020 Gross carrying amount Balance at beginning of period $ 12,874 $ 12,504 Additions 136 610 Dispositions (1) (148) (173) Acquisitions through business combinations (2) 91 171 Assets reclassified as held for sale — (1) Foreign currency translation 7 (237) Balance at end of period $ 12,960 $ 12,874 Accumulated amortization and impairment Balance at beginning of period $ (1,613) $ (945) Amortization/impairment expense (391) (752) Dispositions (1) 73 90 Foreign currency translation (3) (6) Balance at end of period $ (1,934) $ (1,613) Net book value $ 11,026 $ 11,261 ____________________________________ (1) The partnership derecognized $71 million of intangible assets, net of accumulated amortization, related to the deconsolidation of the partnership’s graphite electrode operations on March 1, 2021. Refer to Note 8 for additional information. (2) See Note 3 for additional information. (US$ MILLIONS) June 30, 2021 December 31, 2020 Balance at beginning of period $ 5,244 $ 5,218 Acquisitions through business combinations (1) 301 (83) Dispositions (2) (171) (215) Foreign currency translation (90) 324 Balance at end of period $ 5,284 $ 5,244 ____________________________________ (1) See Note 3 for additional information. (2) Relates to the deconsolidation of the partnership’s graphite electrode operations on March 1, 2021. Refer to Note 8 for additional information.

EQUITY ACCOUNTED INVESTMENTS (T

EQUITY ACCOUNTED INVESTMENTS (Tables)	6 Months Ended
	Jun. 30, 2021
Interests In Other Entities [Abstract]
Disclosure of change in equity investments	(US$ MILLIONS) June 30, 2021 December 31, 2020 Balance at beginning of year $ 1,690 $ 1,273 Acquisitions through business combinations (1) 20 (5) Additions (2) 430 446 Impairment losses (29) — Dispositions (3) (529) (30) Share of net income 36 57 Share of other comprehensive income (loss) 1 6 Distributions received (32) (41) Foreign currency translation (1) (16) Balance at end of period $ 1,586 $ 1,690 ____________________________________ (1) See Note 3 for additional information. (2) Includes an equity accounted investment in the partnership’s graphite electrode operations recorded upon deconsolidation of the investment on March 1, 2021. Refer to Note 8 for additional information. (3) During the quarter, the advanced energy storage operations of the partnership made a partial disposal of an equity accounted investment. The retained interest is accounted for as a marketable security as at June 30, 2021. Refer to Note 5 for additional information.

ACCOUNTS PAYABLE AND OTHER (Tab

ACCOUNTS PAYABLE AND OTHER (Tables)	6 Months Ended
	Jun. 30, 2021
Subclassifications of assets, liabilities and equities [abstract]
Disclosure of accounts payable and other	(US$ MILLIONS) June 30, 2021 December 31, 2020 Current: Accounts payable $ 3,172 $ 2,971 Accrued and other liabilities (1) (2) 4,453 3,864 Lease liabilities 226 222 Financial liabilities (3) 635 727 Unearned premiums reserve (4) 590 533 Work in progress (5) 1,444 1,539 Provisions and decommissioning liabilities 510 560 Liabilities held for sale 17 — Total current $ 11,047 $ 10,416 Non-current: Accounts payable $ 95 $ 82 Accrued and other liabilities (2) 1,309 1,325 Lease liabilities 1,083 1,142 Financial liabilities (3) 2,303 2,457 Unearned premiums reserve (4) 1,528 1,356 Work in progress (5) 7 23 Provisions and decommissioning liabilities 1,086 1,131 Total non-current $ 7,411 $ 7,516 ____________________________________ (1) Includes bank overdrafts of $338 million as at June 30, 2021 (December 31, 2020: $400 million). (2) Includes post-employment benefits of $977 million ($11 million current and $966 million non-current) as at June 30, 2021 and $1,018 million ($19 million current and $999 million non-current) as at December 31, 2020. (3) Includes financial liabilities of $1,800 million ($65 million current and $1,735 million non-current) as at June 30, 2021 and $1,847 million ($56 million current and $1,791 million non-current) as at December 31, 2020 related to the sale and leaseback of hospitals. (4) See Note 25 for additional information. (5) See Note 15 for additional information.

CONTRACTS IN PROGRESS (Tables)

CONTRACTS IN PROGRESS (Tables)	6 Months Ended
	Jun. 30, 2021
Construction Contracts [Abstract]
Disclosure of contracts in progress	(US$ MILLIONS) June 30, 2021 December 31, 2020 Contract costs incurred to date $ 25,120 $ 26,411 Profit recognized to date (less recognized losses) 1,543 1,476 26,663 27,887 Less: progress billings (27,550) (28,913) Contract work in progress (liability) $ (887) $ (1,026) Comprising: Amounts due from customers – work in progress $ 564 $ 536 Amounts due to customers – creditors (1,451) (1,562) Net work in progress $ (887) $ (1,026)

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	6 Months Ended
	Jun. 30, 2021
Related Party [Abstract]
Disclosure of transactions between related parties	The following tables summarize other transactions and balances the partnership has entered into with related parties: Three months ended Six months ended (US$ MILLIONS) 2021 2020 2021 2020 Transactions during the period Business services revenues (1) $ 133 $ 144 $ 287 $ 264 ____________________________________ (1) Within the partnership’s business services segment, the partnership provides construction services to affiliates of Brookfield. (US$ MILLIONS) June 30, 2021 December 31, 2020 Balances at end of period Accounts and other receivable, net $ 155 $ 98 Accounts payable and other $ 234 $ 97

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2021
Financial Instruments [Abstract]
Disclosure of detailed information about hedging instruments	The aggregate fair values of the partnership’s derivative financial instruments positions are as follows: June 30, 2021 December 31, 2020 (US$ MILLIONS) Financial Asset Financial Liability Financial Asset Financial Liability Foreign exchange contracts $ 112 $ 126 $ 129 $ 122 Cross currency swaps 6 — 3 1 Interest rate derivatives 59 284 65 553 Equity derivatives 13 — — 28 Commodities contracts 46 94 80 90 Total $ 236 $ 504 $ 277 $ 794 Total current $ 149 $ 216 $ 167 $ 340 Total non-current $ 87 $ 288 $ 110 $ 454

EQUITY (Tables)

EQUITY (Tables)	6 Months Ended
	Jun. 30, 2021
Equity [abstract]
Disclosure of classes of share capital	GP Units and LP Units UNITS GP Units LP Units Total Balance as at January 1, 2021 4 79,031,984 79,031,988 Repurchased and canceled — (447,871) (447,871) Balance as at June 30, 2021 4 78,584,113 78,584,117 (d) Redemption-Exchange Units UNITS Redemption-Exchange Units Balance as at January 1, 2021 69,705,497 Repurchased and canceled — Balance as at June 30, 2021 69,705,497

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	6 Months Ended
	Jun. 30, 2021
Disclosure of analysis of other comprehensive income by item [abstract]
Disclosure of accumulated other comprehensive income (loss)	Attributable to Limited Partners (US$ MILLIONS) Foreign currency FVOCI Other (1) Accumulated other comprehensive income (loss) Balance as at January 1, 2021 $ (144) $ 52 $ (88) $ (180) Other comprehensive income (loss) 4 19 16 39 Ownership changes (38) (1) 1 (38) Balance as at June 30, 2021 $ (178) $ 70 $ (71) $ (179) ____________________________________ (1) Represents net investment hedges, cash flow hedges and other reserves. (US$ MILLIONS) Foreign currency FVOCI Other (1) Accumulated other Balance as at January 1, 2020 $ (169) $ 11 $ (60) $ (218) Other comprehensive income (loss) (127) 6 22 (99) Ownership changes — 1 — 1 Balance as at June 30, 2020 $ (296) $ 18 $ (38) $ (316) ____________________________________ (1) Represents net investment hedges, cash flow hedges and other reserves. (b) Attributable to non-controlling interests – Redemption-Exchange Units held by Brookfield Asset Management Inc. (US$ MILLIONS) Foreign currency FVOCI Other (1) Accumulated other Balance as at January 1, 2021 $ (199) $ 45 $ (77) $ (231) Other comprehensive income (loss) 4 16 16 36 Ownership changes 38 1 (2) 37 Balance as at June 30, 2021 $ (157) $ 62 $ (63) $ (158) ____________________________________ (1) Represents net investment hedges, cash flow hedges and other reserves. (US$ MILLIONS) Foreign currency FVOCI Other (1) Accumulated other Balance as at January 1, 2020 $ (221) $ 9 $ (52) $ (264) Other comprehensive income (loss) (110) 6 19 (85) Balance as at June 30, 2020 $ (331) $ 15 $ (33) $ (349) ____________________________________ (1) Represents net investment hedges, cash flow hedges and other reserves.

DIRECT OPERATING COSTS (Tables)

DIRECT OPERATING COSTS (Tables)	6 Months Ended
	Jun. 30, 2021
Analysis of income and expense [abstract]
Disclosure of direct operating costs	The following table lists direct operating costs for the three and six months ended June 30, 2021, and June 30, 2020 by nature. Comparative figures have been reclassified to conform to current period’s presentation. Three months ended Six months ended (US$ MILLIONS) 2021 2020 2021 2020 Cost of sales $ 9,004 $ 5,440 $ 16,439 $ 13,463 Compensation 980 827 1,971 1,695 Property taxes, sales taxes and other 12 18 22 28 Total $ 9,996 $ 6,285 $ 18,432 $ 15,186

REVENUES (Tables)

REVENUES (Tables)	6 Months Ended
	Jun. 30, 2021
Revenue [abstract]
Disclosure of segment revenues by type	The tables below summarize the partnership’s segment revenues by type of revenue for the three and six months ended June 30, 2021: Three months ended June 30, 2021 (US$ MILLIONS) Business services Infrastructure services Industrials Corporate Total Revenues by type Revenues from contracts with customers $ 7,431 $ 877 $ 2,547 $ — $ 10,855 Other revenues 248 128 4 — 380 Total revenues $ 7,679 $ 1,005 $ 2,551 $ — $ 11,235 Six months ended June 30, 2021 (US$ MILLIONS) Business services Infrastructure services Industrials Corporate Total Revenues by type Revenues from contracts with customers $ 13,094 $ 1,857 $ 5,358 $ — $ 20,309 Other revenues 487 259 9 — 755 Total revenues $ 13,581 $ 2,116 $ 5,367 $ — $ 21,064 The tables below summarize the partnership’s segment revenues by type of revenue for the three and six months ended June 30, 2020: Three months ended June 30, 2020 (US$ MILLIONS) Business services Infrastructure services Industrials Corporate Total Revenues by type Revenues from contracts with customers $ 3,836 $ 968 $ 2,196 $ — $ 7,000 Other revenues 217 152 1 — 370 Total revenues $ 4,053 $ 1,120 $ 2,197 $ — $ 7,370 Six months ended June 30, 2020 (US$ MILLIONS) Business services Infrastructure services Industrials Corporate Total Revenues by type Revenues from contracts with customers $ 10,176 $ 1,970 $ 4,641 $ — $ 16,787 Other revenues 406 320 3 — 729 Total revenues $ 10,582 $ 2,290 $ 4,644 $ — $ 17,516 Three months ended June 30, 2021 Total attributable to Unitholders Attributable to non-controlling interests As per IFRS Financials (US$ MILLIONS) Business Infrastructure services Industrials Corporate Total (1) Revenues $ 2,401 $ 436 $ 716 $ — $ 3,553 $ 7,682 $ 11,235 Direct operating costs (2,220) (325) (574) (4) (3,123) (6,873) (9,996) General and administrative expenses (41) (18) (17) (30) (106) (147) (253) Equity accounted Company EBITDA (2) 5 32 20 — 57 22 79 Company EBITDA 145 125 145 (34) 381 Gain (loss) on acquisitions / dispositions, net (3) — — 170 — 170 8 178 Other income (expense), net (4) (1) 1 — — — (4) (4) Interest income (expense), net (19) (38) (57) (3) (117) (234) (351) Current income tax (expense) recovery (30) (1) (32) 12 (51) (67) (118) Realized disposition gain, current income taxes and interest expense related to equity accounted investments (2) (2) (15) (10) — (27) (5) (32) Company FFO 93 72 216 (25) 356 Depreciation and amortization expense (5) (191) (362) (553) Gain (loss) on acquisitions / dispositions, net (3) (163) 1 (162) Other income (expense), net (4) (30) (63) (93) Deferred income tax (expense) recovery 41 40 81 Non-cash items attributable to equity accounted investments (2) (28) (12) (40) Net income (loss) $ (15) $ (14) $ (29) ____________________________________ (1) Company EBITDA, Company FFO and net income (loss) attributable to Unitholders include Company EBITDA, Company FFO, and net income (loss) attributable to LP Units, GP Units, Redemption-Exchange Units and Special LP Units, respectively. (2) The sum of these amounts equates to equity accounted income (loss), net of $7 million as per the unaudited interim condensed consolidated statements of operating results. (3) The sum of these amounts equates to the gain (loss) on acquisitions/dispositions, net of $16 million as per the unaudited interim condensed consolidated statements of operating results. (4) The sum of these amounts equates to other income (expense), net of $(97) million as per the unaudited interim condensed consolidated statements of operating results. (5) For the three month period ended June 30, 2021, depreciation and amortization expense by segment is as follows: business services $121 million, infrastructure services $176 million, industrials $256 million, and corporate and other $nil. Six months ended June 30, 2021 Total attributable to Unitholders Attributable to non-controlling interests As per IFRS Financials (US$ MILLIONS) Business Infrastructure services Industrials Corporate Total (1) Revenues $ 4,323 $ 916 $ 1,487 $ — $ 6,726 $ 14,338 $ 21,064 Direct operating costs (4,007) (680) (1,170) (7) (5,864) (12,568) (18,432) General and administrative expenses (75) (35) (40) (52) (202) (302) (504) Equity accounted Company EBITDA (2) 8 60 40 — 108 67 175 Company EBITDA 249 261 317 (59) 768 Gain (loss) on acquisitions / dispositions, net (3) — — 572 — 572 740 1,312 Other income (expense), net (4) (3) — — — (3) (14) (17) Interest income (expense), net (31) (77) (115) (7) (230) (469) (699) Current income tax (expense) recovery (5) (48) (8) (123) 22 (157) (163) (320) Realized disposition gain, current income taxes and interest expense related to equity accounted investments (2) (4) (31) (14) — (49) (12) (61) Company FFO 163 145 637 (44) 901 Depreciation and amortization expense (6) (373) (722) (1,095) Impairment expense, net (58) (143) (201) Gain (loss) on acquisitions / dispositions, net (3) 60 451 511 Current income tax (expense) recovery (5) 9 — 9 Other income (expense), net (4) (5) (36) (41) Deferred income tax (expense) recovery 35 80 115 Non-cash items attributable to equity accounted investments (2) (54) (24) (78) Net income (loss) $ 515 $ 1,223 $ 1,738 ____________________________________ (1) Company EBITDA, Company FFO and net income (loss) attributable to Unitholders include Company EBITDA, Company FFO, and net income (loss) attributable to LP Units, GP Units, Redemption-Exchange Units and Special LP Units, respectively. (2) The sum of these amounts equates to equity accounted income (loss), net of $36 million as per the unaudited interim condensed consolidated statements of operating results. (3) The sum of these amounts equates to the gain (loss) on acquisitions/dispositions, net of $1,823 million as per the unaudited interim condensed consolidated statements of operating results. (4) The sum of these amounts equates to other income (expense), net of $(58) million as per the unaudited interim condensed consolidated statements of operating results. (5) The sum of these amounts equates to current income tax (expense) recovery of $(311) million as per the unaudited interim condensed consolidated statements of operating results. (6) For the six month period ended June 30, 2021, depreciation and amortization expense by segment is as follows: business services $224 million, infrastructure services $348 million, industrials $523 million, and corporate and other $nil. Three months ended June 30, 2020 Total attributable to Unitholders Attributable to non-controlling interests As per IFRS Financials (US$ MILLIONS) Business Infrastructure services Industrials Corporate Total (1) Revenues $ 1,593 $ 485 $ 612 $ — $ 2,690 $ 4,680 $ 7,370 Direct operating costs (1,503) (344) (500) (3) (2,350) (3,935) (6,285) General and administrative expenses (29) (23) (19) (21) (92) (136) (228) Equity accounted Company EBITDA (2) 3 30 5 — 38 25 63 Company EBITDA 64 148 98 (24) 286 Gain (loss) on acquisitions / dispositions, net — — — — — (4) (4) Other income (expense), net (3) 1 (10) 1 — (8) (11) (19) Interest income (expense), net (16) (35) (63) (1) (115) (238) (353) Current income tax (expense) recovery (9) (2) 27 10 26 (49) (23) Realized disposition gain, current income taxes and interest expense related to equity accounted investments (2) (1) (14) (1) — (16) (6) (22) Company FFO 39 87 62 (15) 173 Depreciation and amortization expense (4) (179) (354) (533) Impairment expense, net (11) (18) (29) Other income (expense), net (3) (87) 255 168 Deferred income tax (expense) recovery 12 55 67 Non-cash items attributable to equity accounted investments (2) (17) (6) (23) Net income (loss) $ (109) $ 258 $ 149 ____________________________________ (1) Company EBITDA, Company FFO and net income (loss) attributable to Unitholders include Company EBITDA, Company FFO, and net income (loss) attributable to LP Units, GP Units, Redemption-Exchange Units and Special LP Units, respectively. (2) The sum of these amounts equates to equity accounted income (loss), net of $18 million as per the unaudited interim condensed consolidated statements of operating results. (3) The sum of these amounts equates to other income (expense), net of $149 million as per the unaudited interim condensed consolidated statements of operating results. (4) For the three month period ended June 30, 2020, depreciation and amortization expense by segment is as follows: business services $103 million, infrastructure services $163 million, industrials $267 million, and corporate and other $nil. Six months ended June 30, 2020 Total attributable to Unitholders Attributable to non-controlling interests As per IFRS Financials (US$ MILLIONS) Business Infrastructure services Industrials Corporate Total (1) Revenues $ 3,605 $ 983 $ 1,307 $ — $ 5,895 $ 11,621 $ 17,516 Direct operating costs (3,468) (691) (1,028) (5) (5,192) (9,994) (15,186) General and administrative expenses (65) (39) (48) (45) (197) (275) (472) Equity accounted Company EBITDA (2) 11 51 12 — 74 61 135 Company EBITDA 83 304 243 (50) 580 Gain (loss) on acquisitions / dispositions, net 46 — (1) — 45 134 179 Other income (expense), net (3) 3 (13) 1 — (9) (10) (19) Interest income (expense), net (31) (75) (128) 5 (229) (488) (717) Current income tax (expense) recovery (18) (4) 6 21 5 (103) (98) Realized disposition gain, current income taxes and interest expense related to equity accounted investments (2) (2) (21) (2) — (25) (11) (36) Company FFO 81 191 119 (24) 367 Depreciation and amortization expense (4) (358) (713) (1,071) Impairment expense, net (63) (79) (142) Other income (expense), net (3) (183) 134 (49) Deferred income tax (expense) recovery 59 106 165 Non-cash items attributable to equity accounted investments (2) (57) (33) (90) Net income (loss) $ (235) $ 350 $ 115 ____________________________________ (1) Company EBITDA, Company FFO and net income (loss) attributable to Unitholders include Company EBITDA, Company FFO, and net income (loss) attributable to LP Units, GP Units, Redemption-Exchange Units and Special LP Units, respectively. (2) The sum of these amounts equates to equity accounted income (loss), net of $9 million as per the unaudited interim condensed consolidated statements of operating results. (3) The sum of these amounts equates to other income (expense), net of $(68) million as per the unaudited interim condensed consolidated statements of operating results. (4) For the six month period ended June 30, 2020, depreciation and amortization expense by segment is as follows: business services $213 million, infrastructure services $328 million, industrials $530 million, and corporate and other $nil. The following is an analysis of the partnership’s assets by reportable operating segment as at June 30, 2021 and December 31, 2020: As at June 30, 2021 (US$ MILLIONS) Business services Infrastructure services Industrials Corporate Total Total assets $ 21,199 $ 10,430 $ 21,819 $ 77 $ 53,525 As at December 31, 2020 (US$ MILLIONS) Business services Infrastructure services Industrials Corporate Total Total assets $ 19,884 $ 10,839 $ 23,929 $ 94 $ 54,746
Disclosure of segment revenues by timing of revenue recognition for revenue from contracts with customers	The tables below summarize the partnership’s segment revenues by timing of revenue recognition for the total revenues from contracts with customers for the three and six months ended June 30, 2021: Three months ended June 30, 2021 (US$ MILLIONS) Business services Infrastructure services Industrials Corporate Total Timing of revenue recognition Goods and services provided at a point in time $ 6,303 $ 239 $ 2,494 $ — $ 9,036 Services transferred over a period of time 1,128 638 53 — 1,819 Total revenues from contracts with customers $ 7,431 $ 877 $ 2,547 $ — $ 10,855 Other non IFRS 15 revenues 248 128 4 — 380 Total revenues $ 7,679 $ 1,005 $ 2,551 $ — $ 11,235 Six months ended June 30, 2021 (US$ MILLIONS) Business services Infrastructure services Industrials Corporate Total Timing of revenue recognition Goods and services provided at a point in time $ 10,967 $ 661 $ 5,272 $ — $ 16,900 Services transferred over a period of time 2,127 1,196 86 — 3,409 Total revenues from contracts with customers $ 13,094 $ 1,857 $ 5,358 $ — $ 20,309 Other non IFRS 15 revenues 487 259 9 — 755 Total revenues $ 13,581 $ 2,116 $ 5,367 $ — $ 21,064 The tables below summarize the partnership’s segment revenues by timing of revenue recognition for the total revenues from contracts with customers for the three and six months ended June 30, 2020: Three months ended June 30, 2020 (US$ MILLIONS) Business services Infrastructure services Industrials Corporate Total Timing of revenue recognition Goods and services provided at a point in time $ 2,863 $ 367 $ 2,159 $ — $ 5,389 Services transferred over a period of time 973 601 37 — 1,611 Total revenues from contracts with customers $ 3,836 $ 968 $ 2,196 $ — $ 7,000 Other non IFRS 15 revenues 217 152 1 — 370 Total revenues $ 4,053 $ 1,120 $ 2,197 $ — $ 7,370 Six months ended June 30, 2020 (US$ MILLIONS) Business services Infrastructure services Industrials Corporate Total Timing of revenue recognition Goods and services provided at a point in time $ 8,199 $ 762 $ 4,564 $ — $ 13,525 Services transferred over a period of time 1,977 1,208 77 — 3,262 Total revenues from contracts with customers $ 10,176 $ 1,970 $ 4,641 $ — $ 16,787 Other non IFRS 15 revenues 406 320 3 — 729 Total revenues $ 10,582 $ 2,290 $ 4,644 $ — $ 17,516
Disclosure of segment revenues by geographical areas	The tables below summarize the partnership’s segment revenues by geography for revenues from contracts with customers for the three and six months ended June 30, 2021: Three months ended June 30, 2021 (US$ MILLIONS) Business services Infrastructure services Industrials Corporate Total United Kingdom $ 4,603 $ 89 $ 38 $ — $ 4,730 United States of America 77 307 1,023 — 1,407 Europe 717 318 616 — 1,651 Australia 1,193 — 18 — 1,211 Canada 569 21 120 — 710 Brazil 59 20 213 — 292 Mexico — — 200 — 200 Other 213 122 319 — 654 Total revenues from contracts with customers $ 7,431 $ 877 $ 2,547 $ — $ 10,855 Other revenues 248 128 4 — 380 Total revenues $ 7,679 $ 1,005 $ 2,551 $ — $ 11,235 Six months ended June 30, 2021 (US$ MILLIONS) Business services Infrastructure services Industrials Corporate Total United Kingdom $ 8,141 $ 141 $ 86 $ — $ 8,368 United States of America 155 684 2,084 — 2,923 Europe 1,020 632 1,385 — 3,037 Australia 2,236 7 30 — 2,273 Canada 1,088 52 255 — 1,395 Brazil 107 23 406 — 536 Mexico — — 388 — 388 Other 347 318 724 — 1,389 Total revenues from contracts with customers $ 13,094 $ 1,857 $ 5,358 $ — $ 20,309 Other revenues 487 259 9 — 755 Total revenues $ 13,581 $ 2,116 $ 5,367 $ — $ 21,064 The tables below summarize the partnership’s segment revenues by geography for revenues from contracts with customers for the three and six months ended June 30, 2020: Three months ended June 30, 2020 (US$ MILLIONS) Business services Infrastructure services Industrials Corporate Total United Kingdom $ 2,000 $ 112 $ 44 $ — $ 2,156 United States of America 12 370 883 — 1,265 Europe 233 349 417 — 999 Australia 1,016 2 20 — 1,038 Canada 336 21 106 — 463 Brazil 58 16 163 — 237 Mexico — — 135 — 135 Other 181 98 428 — 707 Total revenues from contracts with customers $ 3,836 $ 968 $ 2,196 $ — $ 7,000 Other revenues 217 152 1 — 370 Total revenues $ 4,053 $ 1,120 $ 2,197 $ — $ 7,370 Six months ended June 30, 2020 (US$ MILLIONS) Business services Infrastructure services Industrials Corporate Total United Kingdom $ 6,257 $ 187 $ 91 $ — $ 6,535 United States of America 13 916 1,770 — 2,699 Europe 495 578 1,136 — 2,209 Australia 2,003 6 31 — 2,040 Canada 830 40 234 — 1,104 Brazil 201 39 369 — 609 Mexico — — 327 — 327 Other 377 204 683 — 1,264 Total revenues from contracts with customers $ 10,176 $ 1,970 $ 4,641 $ — $ 16,787 Other revenues 406 320 3 — 729 Total revenues $ 10,582 $ 2,290 $ 4,644 $ — $ 17,516

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2021
Operating Segments [Abstract]
Disclosure of operating segments	The tables below summarize the partnership’s segment revenues by type of revenue for the three and six months ended June 30, 2021: Three months ended June 30, 2021 (US$ MILLIONS) Business services Infrastructure services Industrials Corporate Total Revenues by type Revenues from contracts with customers $ 7,431 $ 877 $ 2,547 $ — $ 10,855 Other revenues 248 128 4 — 380 Total revenues $ 7,679 $ 1,005 $ 2,551 $ — $ 11,235 Six months ended June 30, 2021 (US$ MILLIONS) Business services Infrastructure services Industrials Corporate Total Revenues by type Revenues from contracts with customers $ 13,094 $ 1,857 $ 5,358 $ — $ 20,309 Other revenues 487 259 9 — 755 Total revenues $ 13,581 $ 2,116 $ 5,367 $ — $ 21,064 The tables below summarize the partnership’s segment revenues by type of revenue for the three and six months ended June 30, 2020: Three months ended June 30, 2020 (US$ MILLIONS) Business services Infrastructure services Industrials Corporate Total Revenues by type Revenues from contracts with customers $ 3,836 $ 968 $ 2,196 $ — $ 7,000 Other revenues 217 152 1 — 370 Total revenues $ 4,053 $ 1,120 $ 2,197 $ — $ 7,370 Six months ended June 30, 2020 (US$ MILLIONS) Business services Infrastructure services Industrials Corporate Total Revenues by type Revenues from contracts with customers $ 10,176 $ 1,970 $ 4,641 $ — $ 16,787 Other revenues 406 320 3 — 729 Total revenues $ 10,582 $ 2,290 $ 4,644 $ — $ 17,516 Three months ended June 30, 2021 Total attributable to Unitholders Attributable to non-controlling interests As per IFRS Financials (US$ MILLIONS) Business Infrastructure services Industrials Corporate Total (1) Revenues $ 2,401 $ 436 $ 716 $ — $ 3,553 $ 7,682 $ 11,235 Direct operating costs (2,220) (325) (574) (4) (3,123) (6,873) (9,996) General and administrative expenses (41) (18) (17) (30) (106) (147) (253) Equity accounted Company EBITDA (2) 5 32 20 — 57 22 79 Company EBITDA 145 125 145 (34) 381 Gain (loss) on acquisitions / dispositions, net (3) — — 170 — 170 8 178 Other income (expense), net (4) (1) 1 — — — (4) (4) Interest income (expense), net (19) (38) (57) (3) (117) (234) (351) Current income tax (expense) recovery (30) (1) (32) 12 (51) (67) (118) Realized disposition gain, current income taxes and interest expense related to equity accounted investments (2) (2) (15) (10) — (27) (5) (32) Company FFO 93 72 216 (25) 356 Depreciation and amortization expense (5) (191) (362) (553) Gain (loss) on acquisitions / dispositions, net (3) (163) 1 (162) Other income (expense), net (4) (30) (63) (93) Deferred income tax (expense) recovery 41 40 81 Non-cash items attributable to equity accounted investments (2) (28) (12) (40) Net income (loss) $ (15) $ (14) $ (29) ____________________________________ (1) Company EBITDA, Company FFO and net income (loss) attributable to Unitholders include Company EBITDA, Company FFO, and net income (loss) attributable to LP Units, GP Units, Redemption-Exchange Units and Special LP Units, respectively. (2) The sum of these amounts equates to equity accounted income (loss), net of $7 million as per the unaudited interim condensed consolidated statements of operating results. (3) The sum of these amounts equates to the gain (loss) on acquisitions/dispositions, net of $16 million as per the unaudited interim condensed consolidated statements of operating results. (4) The sum of these amounts equates to other income (expense), net of $(97) million as per the unaudited interim condensed consolidated statements of operating results. (5) For the three month period ended June 30, 2021, depreciation and amortization expense by segment is as follows: business services $121 million, infrastructure services $176 million, industrials $256 million, and corporate and other $nil. Six months ended June 30, 2021 Total attributable to Unitholders Attributable to non-controlling interests As per IFRS Financials (US$ MILLIONS) Business Infrastructure services Industrials Corporate Total (1) Revenues $ 4,323 $ 916 $ 1,487 $ — $ 6,726 $ 14,338 $ 21,064 Direct operating costs (4,007) (680) (1,170) (7) (5,864) (12,568) (18,432) General and administrative expenses (75) (35) (40) (52) (202) (302) (504) Equity accounted Company EBITDA (2) 8 60 40 — 108 67 175 Company EBITDA 249 261 317 (59) 768 Gain (loss) on acquisitions / dispositions, net (3) — — 572 — 572 740 1,312 Other income (expense), net (4) (3) — — — (3) (14) (17) Interest income (expense), net (31) (77) (115) (7) (230) (469) (699) Current income tax (expense) recovery (5) (48) (8) (123) 22 (157) (163) (320) Realized disposition gain, current income taxes and interest expense related to equity accounted investments (2) (4) (31) (14) — (49) (12) (61) Company FFO 163 145 637 (44) 901 Depreciation and amortization expense (6) (373) (722) (1,095) Impairment expense, net (58) (143) (201) Gain (loss) on acquisitions / dispositions, net (3) 60 451 511 Current income tax (expense) recovery (5) 9 — 9 Other income (expense), net (4) (5) (36) (41) Deferred income tax (expense) recovery 35 80 115 Non-cash items attributable to equity accounted investments (2) (54) (24) (78) Net income (loss) $ 515 $ 1,223 $ 1,738 ____________________________________ (1) Company EBITDA, Company FFO and net income (loss) attributable to Unitholders include Company EBITDA, Company FFO, and net income (loss) attributable to LP Units, GP Units, Redemption-Exchange Units and Special LP Units, respectively. (2) The sum of these amounts equates to equity accounted income (loss), net of $36 million as per the unaudited interim condensed consolidated statements of operating results. (3) The sum of these amounts equates to the gain (loss) on acquisitions/dispositions, net of $1,823 million as per the unaudited interim condensed consolidated statements of operating results. (4) The sum of these amounts equates to other income (expense), net of $(58) million as per the unaudited interim condensed consolidated statements of operating results. (5) The sum of these amounts equates to current income tax (expense) recovery of $(311) million as per the unaudited interim condensed consolidated statements of operating results. (6) For the six month period ended June 30, 2021, depreciation and amortization expense by segment is as follows: business services $224 million, infrastructure services $348 million, industrials $523 million, and corporate and other $nil. Three months ended June 30, 2020 Total attributable to Unitholders Attributable to non-controlling interests As per IFRS Financials (US$ MILLIONS) Business Infrastructure services Industrials Corporate Total (1) Revenues $ 1,593 $ 485 $ 612 $ — $ 2,690 $ 4,680 $ 7,370 Direct operating costs (1,503) (344) (500) (3) (2,350) (3,935) (6,285) General and administrative expenses (29) (23) (19) (21) (92) (136) (228) Equity accounted Company EBITDA (2) 3 30 5 — 38 25 63 Company EBITDA 64 148 98 (24) 286 Gain (loss) on acquisitions / dispositions, net — — — — — (4) (4) Other income (expense), net (3) 1 (10) 1 — (8) (11) (19) Interest income (expense), net (16) (35) (63) (1) (115) (238) (353) Current income tax (expense) recovery (9) (2) 27 10 26 (49) (23) Realized disposition gain, current income taxes and interest expense related to equity accounted investments (2) (1) (14) (1) — (16) (6) (22) Company FFO 39 87 62 (15) 173 Depreciation and amortization expense (4) (179) (354) (533) Impairment expense, net (11) (18) (29) Other income (expense), net (3) (87) 255 168 Deferred income tax (expense) recovery 12 55 67 Non-cash items attributable to equity accounted investments (2) (17) (6) (23) Net income (loss) $ (109) $ 258 $ 149 ____________________________________ (1) Company EBITDA, Company FFO and net income (loss) attributable to Unitholders include Company EBITDA, Company FFO, and net income (loss) attributable to LP Units, GP Units, Redemption-Exchange Units and Special LP Units, respectively. (2) The sum of these amounts equates to equity accounted income (loss), net of $18 million as per the unaudited interim condensed consolidated statements of operating results. (3) The sum of these amounts equates to other income (expense), net of $149 million as per the unaudited interim condensed consolidated statements of operating results. (4) For the three month period ended June 30, 2020, depreciation and amortization expense by segment is as follows: business services $103 million, infrastructure services $163 million, industrials $267 million, and corporate and other $nil. Six months ended June 30, 2020 Total attributable to Unitholders Attributable to non-controlling interests As per IFRS Financials (US$ MILLIONS) Business Infrastructure services Industrials Corporate Total (1) Revenues $ 3,605 $ 983 $ 1,307 $ — $ 5,895 $ 11,621 $ 17,516 Direct operating costs (3,468) (691) (1,028) (5) (5,192) (9,994) (15,186) General and administrative expenses (65) (39) (48) (45) (197) (275) (472) Equity accounted Company EBITDA (2) 11 51 12 — 74 61 135 Company EBITDA 83 304 243 (50) 580 Gain (loss) on acquisitions / dispositions, net 46 — (1) — 45 134 179 Other income (expense), net (3) 3 (13) 1 — (9) (10) (19) Interest income (expense), net (31) (75) (128) 5 (229) (488) (717) Current income tax (expense) recovery (18) (4) 6 21 5 (103) (98) Realized disposition gain, current income taxes and interest expense related to equity accounted investments (2) (2) (21) (2) — (25) (11) (36) Company FFO 81 191 119 (24) 367 Depreciation and amortization expense (4) (358) (713) (1,071) Impairment expense, net (63) (79) (142) Other income (expense), net (3) (183) 134 (49) Deferred income tax (expense) recovery 59 106 165 Non-cash items attributable to equity accounted investments (2) (57) (33) (90) Net income (loss) $ (235) $ 350 $ 115 ____________________________________ (1) Company EBITDA, Company FFO and net income (loss) attributable to Unitholders include Company EBITDA, Company FFO, and net income (loss) attributable to LP Units, GP Units, Redemption-Exchange Units and Special LP Units, respectively. (2) The sum of these amounts equates to equity accounted income (loss), net of $9 million as per the unaudited interim condensed consolidated statements of operating results. (3) The sum of these amounts equates to other income (expense), net of $(68) million as per the unaudited interim condensed consolidated statements of operating results. (4) For the six month period ended June 30, 2020, depreciation and amortization expense by segment is as follows: business services $213 million, infrastructure services $328 million, industrials $530 million, and corporate and other $nil. The following is an analysis of the partnership’s assets by reportable operating segment as at June 30, 2021 and December 31, 2020: As at June 30, 2021 (US$ MILLIONS) Business services Infrastructure services Industrials Corporate Total Total assets $ 21,199 $ 10,430 $ 21,819 $ 77 $ 53,525 As at December 31, 2020 (US$ MILLIONS) Business services Infrastructure services Industrials Corporate Total Total assets $ 19,884 $ 10,839 $ 23,929 $ 94 $ 54,746

SUPPLEMENTAL CASH FLOW INFORM_2

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2021
Cash Flow Statement [Abstract]
Disclosure of interest and income taxes paid	Six months ended (US$ MILLIONS) 2021 2020 Interest paid $ 608 $ 565 Income taxes paid $ 228 $ 102
Disclosure of changes in non-cash working capital	Details of “ Changes in non-cash working capital, net ” in the unaudited interim condensed consolidated statements of cash flow are as follows: Six months ended (US$ MILLIONS) 2021 2020 Accounts receivable $ (401) $ 637 Inventory (339) 200 Prepayments and other (125) 89 Accounts payable and other 580 (102) Changes in non-cash working capital, net $ (285) $ 824

INSURANCE CONTRACTS (Tables)

INSURANCE CONTRACTS (Tables)	6 Months Ended
	Jun. 30, 2021
Insurance Contracts [Abstract]
Schedule of liabilities under insurance contracts	(US$ MILLIONS) June 30, 2021 December 31, 2020 Unearned premiums reserve, beginning of the period $ 1,889 $ 1,625 Premiums written during the period 486 744 Premiums earned during the period (308) (521) Foreign currency translation 51 41 Unearned premiums reserve, end of the period $ 2,118 $ 1,889 (US$ MILLIONS) June 30, 2021 December 31, 2020 Case reserves $ 63 $ 78 Incurred but not reported reserves 42 53 Discounting (1) (1) Provision for adverse deviation 10 14 Total loss reserves $ 114 $ 144 The following table presents movement in loss reserves and the impact on losses on claims: (US$ MILLIONS) June 30, 2021 December 31, 2020 Loss reserves, beginning of the period $ 144 $ 105 Claims paid during the period (26) (50) Losses on claims related to the current period (7) 85 Foreign currency translation 3 4 Loss reserves, end of the period $ 114 $ 144

ACQUISITION OF BUSINESSES - Acq

ACQUISITION OF BUSINESSES - Acquisitions Completed in the Six Months Ended June 30, 2021 (Details) - Everise Holdings Pte Limited - Business services - USD ($) $ in Millions	Jan. 08, 2021	Jun. 30, 2021
Disclosure of detailed information about business combination [line items]
Percentage of voting equity interests acquired	100.00%
Proportion of economic interest held in subsidiary	36.00%
Consideration transferred	$ 103
Cash	80
Contingent consideration related to future performance	23
Identifiable intangible assets recognised as of acquisition date	91
Equity accounted investments recognised as of acquisition date	20
Net other liabilities recognised as of acquisition date	1
Borrowings recognised as of acquisition date	103
Goodwill recognised as of acquisition date	275
Goodwill expected to be deductible for tax purposes	0
Non-controlling interest in acquiree recognised at acquisition date	179
Acquisition-related costs	$ 7
Revenue of acquiree since acquisition date		$ 150
Revenue of acquiree as if combination occurred at beginning of period		$ 157

ACQUISITION OF BUSINESSES - A_2

ACQUISITION OF BUSINESSES - Acquisitions Completed in 2020 (Details) - USD ($) $ in Millions	Jul. 09, 2020	Jul. 09, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Jul. 08, 2020	May 27, 2020
Disclosure of detailed information about business combination [line items]
Subsidiaries, net of cash acquired			$ 242	$ (90)
Goodwill			$ 5,284		$ 5,244
IndoStar Capital Finance Ltd | Business services
Disclosure of detailed information about business combination [line items]
Percentage of voting equity interests acquired	26.00%	26.00%					31.00%
Consideration transferred	$ 19	$ 19				$ 114	$ 162
Proportion of ownership interest in subsidiary	57.00%
Proportion of voting rights held in subsidiary	57.00%
Subsidiaries, net of cash acquired		105
Proportion of economic interest held in subsidiary	20.00%
Acquisition-related costs	$ 4
Loans receivable recognised as of acquisition date	1,112	1,112
Cash and cash equivalents	78	78
Financial assets	227	227
Identifiable intangible assets recognised as of acquisition date	20	20
Net other assets recognised as of acquisition date	30	30
Borrowings recognised as of acquisition date	988	988
Goodwill	29	29
Non-controlling interest in acquiree recognised at acquisition date	$ 403	$ 403
Revenue of acquiree since acquisition date					86
Profit of acquiree since acquisition date					3
Revenue of acquiree as if combination occurred at beginning of period					175
Profit of acquirees as if combination occurred at beginning of period					$ (7)

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS - Financial Instruments Classification (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Disclosure of financial assets [line items]
Financial assets	$ 16,643	$ 17,064
Financial assets pledged		4,704
Disclosure of financial liabilities [line items]
Financial liabilities	32,416	33,644
FVTPL
Disclosure of financial liabilities [line items]
Financial liabilities	265	435
FVOCI
Disclosure of financial liabilities [line items]
Financial liabilities	316	370
Amortized cost
Disclosure of financial liabilities [line items]
Financial liabilities	31,835	32,839
FVTPL
Disclosure of financial assets [line items]
Financial assets	723	933
FVOCI
Disclosure of financial assets [line items]
Financial assets	6,335	5,561
Amortized cost
Disclosure of financial assets [line items]
Financial assets	9,585	10,570
Accounts payable and other (current and non-current)
Disclosure of financial liabilities [line items]
Financial liabilities	10,131	9,868
Accounts payable and other (current and non-current) | FVTPL
Disclosure of financial liabilities [line items]
Financial liabilities	265	435
Accounts payable and other (current and non-current) | FVOCI
Disclosure of financial liabilities [line items]
Financial liabilities	316	370
Accounts payable and other (current and non-current) | Amortized cost
Disclosure of financial liabilities [line items]
Financial liabilities	9,550	9,063
Borrowings (current and non-current)
Disclosure of financial liabilities [line items]
Financial liabilities	22,285	23,776
Borrowings (current and non-current) | FVTPL
Disclosure of financial liabilities [line items]
Financial liabilities	0	0
Borrowings (current and non-current) | FVOCI
Disclosure of financial liabilities [line items]
Financial liabilities	0	0
Borrowings (current and non-current) | Amortized cost
Disclosure of financial liabilities [line items]
Financial liabilities	22,285	23,776
Provisions, decommissioning liabilities, deferred revenues, unearned premium reserve, work in progress, post-employment benefits, liabilities held for sale and tax/duties
Disclosure of financial liabilities [line items]
Financial liabilities	8,327	8,064
Cash and cash equivalents
Disclosure of financial assets [line items]
Financial assets	2,076	2,743
Cash and cash equivalents | FVTPL
Disclosure of financial assets [line items]
Financial assets	0	0
Cash and cash equivalents | FVOCI
Disclosure of financial assets [line items]
Financial assets	0	0
Cash and cash equivalents | Amortized cost
Disclosure of financial assets [line items]
Financial assets	2,076	2,743
Accounts and other receivable, net (current and non-current)
Disclosure of financial assets [line items]
Financial assets	5,239	4,989
Accounts and other receivable, net (current and non-current) | FVTPL
Disclosure of financial assets [line items]
Financial assets	0	0
Accounts and other receivable, net (current and non-current) | FVOCI
Disclosure of financial assets [line items]
Financial assets	0	0
Accounts and other receivable, net (current and non-current) | Amortized cost
Disclosure of financial assets [line items]
Financial assets	5,239	4,989
Other assets (current and non-current)
Disclosure of financial assets [line items]
Financial assets	565	536
Other assets (current and non-current) | FVTPL
Disclosure of financial assets [line items]
Financial assets	0	0
Other assets (current and non-current) | FVOCI
Disclosure of financial assets [line items]
Financial assets	0	0
Other assets (current and non-current) | Amortized cost
Disclosure of financial assets [line items]
Financial assets	565	536
Financial assets (current and non-current)
Disclosure of financial assets [line items]
Financial assets	8,763	8,796
Financial assets (current and non-current) | FVTPL
Disclosure of financial assets [line items]
Financial assets	723	933
Financial assets (current and non-current) | FVOCI
Disclosure of financial assets [line items]
Financial assets	6,335	5,561
Financial assets (current and non-current) | Amortized cost
Disclosure of financial assets [line items]
Financial assets	1,705	2,302
Prepayments, subrogation recoverable, deferred policy acquisition costs and assets held for sale
Disclosure of financial assets [line items]
Financial assets	$ 1,180
Prepayments, subrogation recoverable and other assets
Disclosure of financial assets [line items]
Financial assets		$ 1,048

FAIR VALUE OF FINANCIAL INSTR_4

FAIR VALUE OF FINANCIAL INSTRUMENTS - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Cash	$ 1,614		$ 1,614		$ 2,269
Cash equivalents	462		462		474
Financial assets	16,643		16,643		17,064
Financial liabilities	32,416		32,416		33,644
Derivative financial assets	236		236		277
Derivative financial liabilities	504		504		794
Gross financial assets subject to offsetting	0		0		68
Gross financial liabilities set off against financial assets subject to offsetting	19		19		14
Hedges of net investment in foreign operations
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Derivative financial assets	22		22		17
Derivative financial liabilities	64		64		59
Cash flow hedges
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Derivative financial assets	102		102		82
Derivative financial liabilities	252		252		311
Level 3 | Recurring fair value measurement
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial liabilities	77		77		11
Financial assets	417		417		341	$ 287
FVOCI
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial assets	6,335		6,335		5,561
FVOCI | Hedges of net investment in foreign operations
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Gains (losses) on hedging instrument, fair value hedges	(110)	$ (50)	57	$ 269
FVOCI | Cash flow hedges
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Gains (losses) on hedging instrument, fair value hedges	(35)	$ 0	32	$ (262)
Equity investments | FVOCI
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial assets	1,259		1,259		850
Other financial assets, debt instruments at FVTPL | FVOCI
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial assets	4,952		4,952		4,041
Infrastructure services
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial liabilities	2,653		2,653		2,769
Infrastructure services | Level 1 and Level 2
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial liabilities, at fair value	$ 2,661		$ 2,661		$ 2,753

FAIR VALUE OF FINANCIAL INSTR_5

FAIR VALUE OF FINANCIAL INSTRUMENTS - Fair Value Hierarchy Levels (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial liabilities	$ 32,416	$ 33,644
Recurring fair value measurement | Level 1
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial assets	1,605	1,302
Financial liabilities	25	72
Recurring fair value measurement | Level 2
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial assets	5,034	4,851
Financial liabilities	479	722
Recurring fair value measurement | Level 3
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial assets	417	341	$ 287
Financial liabilities	77	11
Recurring fair value measurement | Derivatives assets/liabilities | Level 1
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial liabilities	25	72
Recurring fair value measurement | Derivatives assets/liabilities | Level 2
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial liabilities	479	722
Recurring fair value measurement | Derivatives assets/liabilities | Level 3
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial liabilities	0	0
Recurring fair value measurement | Other financial liabilities | Level 1
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial liabilities	0	0
Recurring fair value measurement | Other financial liabilities | Level 2
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial liabilities	0	0
Recurring fair value measurement | Other financial liabilities | Level 3
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial liabilities	77	11
Recurring fair value measurement | Common shares | Level 1
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial assets	809	481
Recurring fair value measurement | Common shares | Level 2
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial assets	0	0
Recurring fair value measurement | Common shares | Level 3
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial assets	0	0
Recurring fair value measurement | Corporate and government bonds | Level 1
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial assets	162	0
Recurring fair value measurement | Corporate and government bonds | Level 2
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial assets	4,186	4,049
Recurring fair value measurement | Corporate and government bonds | Level 3
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial assets	0	0
Recurring fair value measurement | Derivatives assets/liabilities | Level 1
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial assets	5	46
Recurring fair value measurement | Derivatives assets/liabilities | Level 2
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial assets	231	231
Recurring fair value measurement | Derivatives assets/liabilities | Level 3
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial assets	0	0
Recurring fair value measurement | Other financial assets | Level 1
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial assets	629	775
Recurring fair value measurement | Other financial assets | Level 2
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial assets	617	571
Recurring fair value measurement | Other financial assets | Level 3
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Financial assets	$ 417	$ 341

FAIR VALUE OF FINANCIAL INSTR_6

FAIR VALUE OF FINANCIAL INSTRUMENTS - Change in Balance of Financial Assets Classified as Level 3 (Details) - Recurring fair value measurement - Level 3 - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Reconciliation of changes in fair value measurement, assets [abstract]
Financial assets at beginning of period	$ 341	$ 287
Fair value change recorded in net income	(5)	(2)
Fair value change recorded in other comprehensive income	13	(3)
Additions	69	221
Disposals	(1)	(162)
Financial assets at end of period	$ 417	$ 341

FINANCIAL ASSETS - Disclosure o

FINANCIAL ASSETS - Disclosure of Financial Assets (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Current
Marketable securities	$ 1,285	$ 995
Restricted cash	436	833
Derivative contracts	149	167
Loans and notes receivable	244	195
Other financial assets	167	385
Total current	2,281	2,575
Non-current
Marketable securities	3,875	3,535
Restricted cash	279	272
Derivative contracts	87	110
Loans and notes receivable	745	1,002
Other financial assets	1,496	1,302
Total non-current	$ 6,482	$ 6,221

ACCOUNTS AND OTHER RECEIVABLE_3

ACCOUNTS AND OTHER RECEIVABLE, NET - Current and Non-current Balances (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Subclassifications of assets, liabilities and equities [abstract]
Current, net	$ 4,511	$ 4,306
Non-current, net
Accounts receivable	56	60
Retainer on customer contract	68	68
Billing rights	604	555
Total non-current, net	728	683
Total	$ 5,239	$ 4,989

INVENTORY, NET - Disclosure of

INVENTORY, NET - Disclosure of Current Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Inventories [Abstract]
Raw materials and consumables	$ 953	$ 980
Fuel products	697	648
Work in progress	614	638
RTFO certificates	464	365
Finished goods and other	1,223	1,065
Carrying amount of inventories	3,951	3,696
RTFO certificates held for trading and recorded at fair value	$ 0	$ 25

DISPOSITIONS (Details)

DISPOSITIONS (Details) - USD ($) shares in Millions, $ in Millions	May 24, 2021	Mar. 01, 2021	Jan. 14, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disclosure of operating segments [line items]
Gain (loss) on acquisitions/dispositions, net				$ 16		$ (4)	$ 1,823	$ 179
Public securities
Disclosure of operating segments [line items]
Gain (loss) on acquisitions/dispositions, net					$ 41
Cold storage logistics business
Disclosure of operating segments [line items]
Gain (loss) on acquisitions/dispositions, net								186
Consideration received								$ 255
GrafTech International Ltd.
Disclosure of operating segments [line items]
Gain (loss) on acquisitions/dispositions, net	$ 5	$ 1,764	$ 239
Proportion of voting rights held in subsidiary		37.00%	48.00%
Proportion of ownership interest in subsidiary	8.00%	13.00%
Brookfield Business Partners L.P. and Institutional Investors | GrafTech International Ltd.
Disclosure of operating segments [line items]
Gain (loss) on acquisitions/dispositions, net		$ 609	$ 82
Number of shares in entity disposed	11.3	30	20
Proceeds from sale of subsidiary	$ 150	$ 350	$ 214

OTHER ASSETS - Disclosure of Ot

OTHER ASSETS - Disclosure of Other Assets (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Current
Work in progress	$ 523	$ 488
Prepayments and other assets	801	650
Assets held for sale	48	35
Total current	1,372	1,173
Non-current
Work in progress	41	48
Prepayments and other assets	332	363
Total non-current	$ 373	$ 411

PROPERTY PLANT AND EQUIPMENT -

PROPERTY PLANT AND EQUIPMENT - Disclosure of Property, Plant and Equipment (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended	12 Months Ended
	Mar. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Reconciliation of changes in property, plant and equipment [abstract]
Balance at beginning of period	$ 13,982	$ 13,982
Balance at end of period		13,119	$ 13,982
Right-of-use assets		1,250	1,252
GrafTech International Ltd.
Reconciliation of changes in property, plant and equipment [abstract]
Dispositions	(505)
Property, plant and equipment derecognized	505
Gross carrying amount
Reconciliation of changes in property, plant and equipment [abstract]
Balance at beginning of period	18,004	18,004	16,502
Additions		582	1,526
Dispositions		(948)	(599)
Acquisitions through business combinations		69	79
Assets reclassified as held for sale		(18)	(56)
Foreign currency translation and other		(35)	552
Balance at end of period		17,654	18,004
Property, plant and equipment derecognized		948	599
Accumulated depreciation and impairment
Reconciliation of changes in property, plant and equipment [abstract]
Balance at beginning of period	$ (4,022)	(4,022)	(2,610)
Dispositions		387	316
Assets reclassified as held for sale		11	26
Foreign currency translation and other		(31)	(68)
Depreciation/depletion/impairment expense		(880)	(1,686)
Balance at end of period		(4,535)	(4,022)
Property, plant and equipment derecognized		$ (387)	$ (316)

PROPERTY PLANT AND EQUIPMENT _2

PROPERTY PLANT AND EQUIPMENT - Additional Information (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Industrials
Disclosure of detailed information about property, plant and equipment [line items]
Impairment loss	$ 201

INTANGIBLE ASSETS - Disclosure

INTANGIBLE ASSETS - Disclosure of Changes in Intangible Assets (Details) - USD ($) $ in Millions	Mar. 01, 2021	Jun. 30, 2021	Dec. 31, 2020
Reconciliation of changes in intangible assets other than goodwill [abstract]
Balance at beginning of period		$ 11,261
Balance at end of period		11,026	$ 11,261
GrafTech International Ltd.
Reconciliation of changes in intangible assets other than goodwill [abstract]
Dispositions	$ (71)
Intangible assets other than goodwill derecognized	$ 71
Gross carrying amount
Reconciliation of changes in intangible assets other than goodwill [abstract]
Balance at beginning of period		12,874	12,504
Additions		136	610
Dispositions		(148)	(173)
Acquisitions through business combinations		91	171
Assets reclassified as held for sale		0	(1)
Foreign currency translation		7	(237)
Balance at end of period		12,960	12,874
Intangible assets other than goodwill derecognized		148	173
Accumulated Amortization and impairment
Reconciliation of changes in intangible assets other than goodwill [abstract]
Balance at beginning of period		(1,613)	(945)
Dispositions		73	90
Foreign currency translation		(3)	(6)
Amortization/impairment expense		(391)	(752)
Balance at end of period		(1,934)	(1,613)
Intangible assets other than goodwill derecognized		$ (73)	$ (90)

GOODWILL - Disclosure of Change

GOODWILL - Disclosure of Changes in Goodwill (Details) - Goodwill - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Reconciliation of changes in intangible assets and goodwill [abstract]
Balance at beginning of period	$ 5,244	$ 5,218
Acquisitions through business combinations	301	(83)
Dispositions	(171)	(215)
Foreign currency translation	(90)	324
Balance at end of period	$ 5,284	$ 5,244

EQUITY ACCOUNTED INVESTMENTS -

EQUITY ACCOUNTED INVESTMENTS - Change in Equity Investments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Interests In Other Entities [Abstract]
Balance at beginning of year			$ 1,690	$ 1,273	$ 1,273
Acquisitions through business combinations			20		(5)
Additions			430		446
Impairment losses			(29)		0
Dispositions			(529)		(30)
Share of net income	$ 7	$ 18	36	$ 9	57
Share of other comprehensive income (loss)			1		6
Distributions received			(32)		(41)
Foreign currency translation			(1)		(16)
Balance at end of period	$ 1,586		$ 1,586		$ 1,690

ACCOUNTS PAYABLE AND OTHER - Ac

ACCOUNTS PAYABLE AND OTHER - Accounts Payable and Other (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Current:
Accounts payable	$ 3,172	$ 2,971
Accrued and other liabilities	4,453	3,864
Lease liabilities	226	222
Financial liabilities	635	727
Unearned premiums reserve	590	533
Work in progress	1,444	1,539
Provisions and decommissioning liabilities	510	560
Liabilities held for sale	17	0
Total current	11,047	10,416
Non-current:
Accounts payable	95	82
Accrued and other liabilities	1,309	1,325
Lease liabilities	1,083	1,142
Financial liabilities	2,303	2,457
Unearned premiums reserve	1,528	1,356
Work in progress	7	23
Provisions and decommissioning liabilities	1,086	1,131
Total non-current	7,411	7,516
Bank overdrafts	338	400
Net defined benefit liability	977	1,018
Current net defined benefit liability	11	19
Non-current net defined benefit liability	966	999
Healthscope Limited
Non-current:
Financial liabilities, sale-leaseback transaction	1,800	1,847
Current financial liabilities, sale-leaseback transaction	65	56
Non-current financial liabilities, sale-leaseback transaction	$ 1,735	$ 1,791

CONTRACTS IN PROGRESS - Disclos

CONTRACTS IN PROGRESS - Disclosure of Contracts in Progress (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Construction Contracts [Abstract]
Contract costs incurred to date	$ 25,120	$ 26,411
Profit recognized to date (less recognized losses)	1,543	1,476
Contract costs incurred and profit recognized (less recognized losses)	26,663	27,887
Less: progress billings	(27,550)	(28,913)
Contract work in progress (liability)	(887)	(1,026)
Comprising:
Amounts due from customers – work in progress	564	536
Amounts due to customers – creditors	(1,451)	(1,562)
Contract work in progress (liability)	$ (887)	$ (1,026)

BORROWINGS (Details)

BORROWINGS (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Parent company
Disclosure of detailed information about borrowings [line items]
Current borrowings	$ 427	$ 300
Revolving credit facility
Disclosure of detailed information about borrowings [line items]
Borrowings	$ 0	310
Revolving credit facility | Floating interest rate | LIBOR or bankers' acceptance rate
Disclosure of detailed information about borrowings [line items]
Basis spread on variable rate	2.50%
Revolving credit facility | Floating interest rate | Base rate or prime rate
Disclosure of detailed information about borrowings [line items]
Basis spread on variable rate	1.50%
Brookfield credit agreements
Disclosure of detailed information about borrowings [line items]
Undrawn borrowing facilities	$ 2,075
Credit facility, maximum borrowing capacity	$ 500
Brookfield credit agreements | Floating interest rate | LIBOR or bankers' acceptance rate
Disclosure of detailed information about borrowings [line items]
Basis spread on variable rate	3.45%
Brookfield credit agreements | Floating interest rate | Base rate or prime rate
Disclosure of detailed information about borrowings [line items]
Basis spread on variable rate	2.45%
Non-recourse subsidiary borrowings
Disclosure of detailed information about borrowings [line items]
Borrowings	$ 21,858	$ 23,166

RELATED PARTY TRANSACTIONS - Ad

RELATED PARTY TRANSACTIONS - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Disclosure of transactions between related parties [line items]
Interest income (expense), net	$ (351)	$ (353)	$ (699)	$ (717)
Parent company
Disclosure of transactions between related parties [line items]
Current borrowings	427		427		$ 300
Interest income (expense), net	2		4
Base management fee expense	23	16	41	32
Dividends recognised as distributions to owners	$ 79	$ 0	$ 79	$ 0
Parent company | LIBOR or bankers' acceptance rate
Disclosure of transactions between related parties [line items]
Basis spread on variable rate	1.50%		1.50%

RELATED PARTY TRANSACTIONS - Ot

RELATED PARTY TRANSACTIONS - Other Related Party Transactions (Details) - Other related parties - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Disclosure of transactions between related parties [line items]
Business services revenues	$ 133	$ 144	$ 287	$ 264
Accounts and other receivable, net	155		155		$ 98
Accounts payable and other	$ 234		$ 234		$ 97

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS - Disclosure of Derivative Financial Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Disclosure of detailed information about hedging instruments [line items]
Financial Asset	$ 236	$ 277
Financial Liability	504	794
Current financial assets	149	167
Current financial liability	216	340
Non-current financial asset	87	110
Non-current financial liability	288	454
Foreign exchange contracts
Disclosure of detailed information about hedging instruments [line items]
Financial Liability	126	122
Cross currency swaps
Disclosure of detailed information about hedging instruments [line items]
Financial Liability	0	1
Interest rate derivatives
Disclosure of detailed information about hedging instruments [line items]
Financial Liability	284	553
Equity derivatives
Disclosure of detailed information about hedging instruments [line items]
Financial Liability	0	28
Commodities contracts
Disclosure of detailed information about hedging instruments [line items]
Financial Liability	94	90
Foreign exchange contracts
Disclosure of detailed information about hedging instruments [line items]
Financial Asset	112	129
Cross currency swaps
Disclosure of detailed information about hedging instruments [line items]
Financial Asset	6	3
Interest rate derivatives
Disclosure of detailed information about hedging instruments [line items]
Financial Asset	59	65
Equity derivatives
Disclosure of detailed information about hedging instruments [line items]
Financial Asset	13	0
Commodities contracts
Disclosure of detailed information about hedging instruments [line items]
Financial Asset	$ 46	$ 80

EQUITY - Additional Information

EQUITY - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended		6 Months Ended				12 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021		Jun. 30, 2020		Dec. 31, 2020
Decrease through other distributions to owners, equity	[1]			$ 1,377		$ 757
Net (loss) income attributable to limited partnership unitholders		$ (50)	$ (59)	231		(126)
Entities with joint control or significant influence
Dividends recognised as distributions to owners		$ 79	0	$ 79		0
Incentive distribution rights based on percent increase in unit price				20.00%
Dividends recognised as distributions to owners, volume weighted average share price threshold		$ 44.64						$ 41.96
Non-controlling interest - Redemption-Exchange Units held by Brookfield Asset Management Inc.
Dividends recognised as distributions to owners		$ 9	$ 9	$ 18		$ 18
Dividends recognised as distributions to owners per share (in dollars per share)		$ 0.0625	$ 0.0625	$ 0.0625		$ 0.0625
Limited Partners
Decrease through other distributions to owners, equity	[1]			$ 10		$ 10
Units repurchased and canceled (in shares)				447,871		560,491
Weighted average number of ordinary shares outstanding (in shares)		78,600,000	80,400,000	78,700,000		80,600,000
Interest of others in operating subsidiaries
Decrease through other distributions to owners, equity		$ 482	$ 64	$ 1,280	[1]	$ 739	[1]
[1]	See Note 19 for additional information on distributions and for additional information on unit repurchases.

EQUITY - General and Limited Pa

EQUITY - General and Limited Partnership Units (Details) - shares	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Total
Disclosure of classes of share capital [line items]
Balance at beginning of period (in shares)	79,031,988
Repurchased and canceled (in shares)	(447,871)
Balance at end of period (in shares)	78,584,117
Brookfield Asset Management Inc.
Disclosure of classes of share capital [line items]
Balance at beginning of period (in shares)	4
Repurchased and canceled (in shares)	0
Balance at end of period (in shares)	4
Limited Partners
Disclosure of classes of share capital [line items]
Balance at beginning of period (in shares)	79,031,984
Repurchased and canceled (in shares)	(447,871)	(560,491)
Balance at end of period (in shares)	78,584,113

EQUITY - Redemption-Exchange Un

EQUITY - Redemption-Exchange Units Held by Brookfield (Details) - Redemption-Exchange Units held by Brookfield Asset Management Inc.	6 Months Ended
	Jun. 30, 2021shares
Disclosure of classes of share capital [line items]
Balance at beginning of period (in shares)	69,705,497
Repurchased and canceled (in shares)	0
Balance at end of period (in shares)	69,705,497

EQUITY - Acquisition of remaini

EQUITY - Acquisition of remaining publicly held interest in residential mortgage insurer (Details) - USD ($) $ in Millions		Apr. 01, 2021	Jun. 30, 2021	Jun. 30, 2020
Disclosure of detailed information about business combination [line items]
Ownership change gain in the equity accounts	[1]		$ (1,857)	$ (374)
Sagen Canada | Sagen MI Canada Inc
Disclosure of detailed information about business combination [line items]
Percentage of voting equity interests acquired		43.00%
Consideration paid (received)		$ 185
Ownership change gain in the equity accounts		47
Brookfield Business Partners L.P. and Institutional Investors | Sagen Canada | Sagen MI Canada Inc
Disclosure of detailed information about business combination [line items]
Consideration paid (received)		$ 1,300
[1]	Includes gains or losses on changes in ownership interests of consolidated subsidiaries.

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Disclosure of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disclosure of analysis of other comprehensive income by item [line items]
Beginning balance				$ 11,337	$ 11,053
Other comprehensive income (loss)		$ 306	$ 450	216	(740)
Ownership changes	[1]			(1,857)	(374)
Ending balance		11,196	9,757	11,196	9,757
Limited Partners
Disclosure of analysis of other comprehensive income by item [line items]
Beginning balance				1,928	2,116
Other comprehensive income (loss)				39	(99)
Ownership changes	[1]			59	(137)
Ending balance		2,230	1,731	2,230	1,731
Foreign currency translation | Limited Partners
Disclosure of analysis of other comprehensive income by item [line items]
Beginning balance				(144)	(169)
Other comprehensive income (loss)				4	(127)
Ownership changes				(38)	0
Ending balance		(178)	(296)	(178)	(296)
Foreign currency translation | Non-controlling interest - Redemption-Exchange Units held by Brookfield Asset Management Inc.
Disclosure of analysis of other comprehensive income by item [line items]
Beginning balance				(199)	(221)
Other comprehensive income (loss)				4	(110)
Ownership changes				38
Ending balance		(157)	(331)	(157)	(331)
FVOCI | Limited Partners
Disclosure of analysis of other comprehensive income by item [line items]
Beginning balance				52	11
Other comprehensive income (loss)				19	6
Ownership changes				(1)	1
Ending balance		70	18	70	18
FVOCI | Non-controlling interest - Redemption-Exchange Units held by Brookfield Asset Management Inc.
Disclosure of analysis of other comprehensive income by item [line items]
Beginning balance				45	9
Other comprehensive income (loss)				16	6
Ownership changes				1
Ending balance		62	15	62	15
Other | Limited Partners
Disclosure of analysis of other comprehensive income by item [line items]
Beginning balance				(88)	(60)
Other comprehensive income (loss)				16	22
Ownership changes				1	0
Ending balance		(71)	(38)	(71)	(38)
Other | Non-controlling interest - Redemption-Exchange Units held by Brookfield Asset Management Inc.
Disclosure of analysis of other comprehensive income by item [line items]
Beginning balance				(77)	(52)
Other comprehensive income (loss)				16	19
Ownership changes				(2)
Ending balance		(63)	(33)	(63)	(33)
Accumulated other comprehensive income (loss) | Limited Partners
Disclosure of analysis of other comprehensive income by item [line items]
Beginning balance	[2]			(180)	(218)
Other comprehensive income (loss)	[2]			39	(99)
Ownership changes	[1],[2]			(38)	1
Ending balance	[2]	(179)	(316)	(179)	(316)
Accumulated other comprehensive income (loss) | Non-controlling interest - Redemption-Exchange Units held by Brookfield Asset Management Inc.
Disclosure of analysis of other comprehensive income by item [line items]
Beginning balance				(231)	(264)
Other comprehensive income (loss)				36	(85)
Ownership changes				37
Ending balance		$ (158)	$ (349)	$ (158)	$ (349)
[1]	Includes gains or losses on changes in ownership interests of consolidated subsidiaries.
[2]	See Note 20 for additional information.

DIRECT OPERATING COSTS - Schedu

DIRECT OPERATING COSTS - Schedule of Lists of Direct Costs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Analysis of income and expense [abstract]
Cost of sales	$ 9,004	$ 5,440	$ 16,439	$ 13,463
Compensation	980	827	1,971	1,695
Property taxes, sales taxes and other	12	18	22	28
Total	$ 9,996	$ 6,285	$ 18,432	$ 15,186

DIRECT OPERATING COSTS - Additi

DIRECT OPERATING COSTS - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Analysis of income and expense [abstract]
Inventories recognized as expense during the period	$ 7,537	$ 3,531	$ 13,832	$ 9,640

REVENUES - Revenues by Type (De

REVENUES - Revenues by Type (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disclosure of operating segments [line items]
Revenues from contracts with customers	$ 10,855	$ 7,000	$ 20,309	$ 16,787
Other revenues	380	370	755	729
Total revenues	11,235	7,370	21,064	17,516
Business services
Disclosure of operating segments [line items]
Revenues from contracts with customers	7,431	3,836	13,094	10,176
Other revenues	248	217	487	406
Total revenues	7,679	4,053	13,581	10,582
Infrastructure services
Disclosure of operating segments [line items]
Revenues from contracts with customers	877	968	1,857	1,970
Other revenues	128	152	259	320
Total revenues	1,005	1,120	2,116	2,290
Industrials
Disclosure of operating segments [line items]
Revenues from contracts with customers	2,547	2,196	5,358	4,641
Other revenues	4	1	9	3
Total revenues	2,551	2,197	5,367	4,644
Corporate and other
Disclosure of operating segments [line items]
Revenues from contracts with customers	0	0	0	0
Other revenues	0	0	0	0
Total revenues	$ 0	$ 0	$ 0	$ 0

REVENUES - Timing of Revenues R

REVENUES - Timing of Revenues Recognition From Contracts with Customers (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disclosure of operating segments [line items]
Revenues from contracts with customers	$ 10,855	$ 7,000	$ 20,309	$ 16,787
Other non IFRS 15 revenues	380	370	755	729
Total revenues	11,235	7,370	21,064	17,516
Business services
Disclosure of operating segments [line items]
Revenues from contracts with customers	7,431	3,836	13,094	10,176
Other non IFRS 15 revenues	248	217	487	406
Total revenues	7,679	4,053	13,581	10,582
Infrastructure services
Disclosure of operating segments [line items]
Revenues from contracts with customers	877	968	1,857	1,970
Other non IFRS 15 revenues	128	152	259	320
Total revenues	1,005	1,120	2,116	2,290
Industrials
Disclosure of operating segments [line items]
Revenues from contracts with customers	2,547	2,196	5,358	4,641
Other non IFRS 15 revenues	4	1	9	3
Total revenues	2,551	2,197	5,367	4,644
Corporate and other
Disclosure of operating segments [line items]
Revenues from contracts with customers	0	0	0	0
Other non IFRS 15 revenues	0	0	0	0
Total revenues	0	0	0	0
Goods and services provided at a point in time
Disclosure of operating segments [line items]
Revenues from contracts with customers	9,036	5,389	16,900	13,525
Goods and services provided at a point in time | Business services
Disclosure of operating segments [line items]
Revenues from contracts with customers	6,303	2,863	10,967	8,199
Goods and services provided at a point in time | Infrastructure services
Disclosure of operating segments [line items]
Revenues from contracts with customers	239	367	661	762
Goods and services provided at a point in time | Industrials
Disclosure of operating segments [line items]
Revenues from contracts with customers	2,494	2,159	5,272	4,564
Goods and services provided at a point in time | Corporate and other
Disclosure of operating segments [line items]
Revenues from contracts with customers	0	0	0	0
Services transferred over a period of time
Disclosure of operating segments [line items]
Revenues from contracts with customers	1,819	1,611	3,409	3,262
Services transferred over a period of time | Business services
Disclosure of operating segments [line items]
Revenues from contracts with customers	1,128	973	2,127	1,977
Services transferred over a period of time | Infrastructure services
Disclosure of operating segments [line items]
Revenues from contracts with customers	638	601	1,196	1,208
Services transferred over a period of time | Industrials
Disclosure of operating segments [line items]
Revenues from contracts with customers	53	37	86	77
Services transferred over a period of time | Corporate and other
Disclosure of operating segments [line items]
Revenues from contracts with customers	$ 0	$ 0	$ 0	$ 0

REVENUES - Revenues by Geograph

REVENUES - Revenues by Geography (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disclosure of operating segments [line items]
Revenues from contracts with customers	$ 10,855	$ 7,000	$ 20,309	$ 16,787
Other non IFRS 15 revenues	380	370	755	729
Total revenues	11,235	7,370	21,064	17,516
Business services
Disclosure of operating segments [line items]
Revenues from contracts with customers	7,431	3,836	13,094	10,176
Other non IFRS 15 revenues	248	217	487	406
Total revenues	7,679	4,053	13,581	10,582
Infrastructure services
Disclosure of operating segments [line items]
Revenues from contracts with customers	877	968	1,857	1,970
Other non IFRS 15 revenues	128	152	259	320
Total revenues	1,005	1,120	2,116	2,290
Industrials
Disclosure of operating segments [line items]
Revenues from contracts with customers	2,547	2,196	5,358	4,641
Other non IFRS 15 revenues	4	1	9	3
Total revenues	2,551	2,197	5,367	4,644
Corporate and other
Disclosure of operating segments [line items]
Revenues from contracts with customers	0	0	0	0
Other non IFRS 15 revenues	0	0	0	0
Total revenues	0	0	0	0
United Kingdom
Disclosure of operating segments [line items]
Revenues from contracts with customers	4,730	2,156	8,368	6,535
United Kingdom | Business services
Disclosure of operating segments [line items]
Revenues from contracts with customers	4,603	2,000	8,141	6,257
United Kingdom | Infrastructure services
Disclosure of operating segments [line items]
Revenues from contracts with customers	89	112	141	187
United Kingdom | Industrials
Disclosure of operating segments [line items]
Revenues from contracts with customers	38	44	86	91
United Kingdom | Corporate and other
Disclosure of operating segments [line items]
Revenues from contracts with customers	0	0	0	0
United States of America
Disclosure of operating segments [line items]
Revenues from contracts with customers	1,407	1,265	2,923	2,699
United States of America | Business services
Disclosure of operating segments [line items]
Revenues from contracts with customers	77	12	155	13
United States of America | Infrastructure services
Disclosure of operating segments [line items]
Revenues from contracts with customers	307	370	684	916
United States of America | Industrials
Disclosure of operating segments [line items]
Revenues from contracts with customers	1,023	883	2,084	1,770
United States of America | Corporate and other
Disclosure of operating segments [line items]
Revenues from contracts with customers	0	0	0	0
Europe
Disclosure of operating segments [line items]
Revenues from contracts with customers	1,651	999	3,037	2,209
Europe | Business services
Disclosure of operating segments [line items]
Revenues from contracts with customers	717	233	1,020	495
Europe | Infrastructure services
Disclosure of operating segments [line items]
Revenues from contracts with customers	318	349	632	578
Europe | Industrials
Disclosure of operating segments [line items]
Revenues from contracts with customers	616	417	1,385	1,136
Europe | Corporate and other
Disclosure of operating segments [line items]
Revenues from contracts with customers	0	0	0	0
Australia
Disclosure of operating segments [line items]
Revenues from contracts with customers	1,211	1,038	2,273	2,040
Australia | Business services
Disclosure of operating segments [line items]
Revenues from contracts with customers	1,193	1,016	2,236	2,003
Australia | Infrastructure services
Disclosure of operating segments [line items]
Revenues from contracts with customers	0	2	7	6
Australia | Industrials
Disclosure of operating segments [line items]
Revenues from contracts with customers	18	20	30	31
Australia | Corporate and other
Disclosure of operating segments [line items]
Revenues from contracts with customers	0	0	0	0
Canada
Disclosure of operating segments [line items]
Revenues from contracts with customers	710	463	1,395	1,104
Canada | Business services
Disclosure of operating segments [line items]
Revenues from contracts with customers	569	336	1,088	830
Canada | Infrastructure services
Disclosure of operating segments [line items]
Revenues from contracts with customers	21	21	52	40
Canada | Industrials
Disclosure of operating segments [line items]
Revenues from contracts with customers	120	106	255	234
Canada | Corporate and other
Disclosure of operating segments [line items]
Revenues from contracts with customers	0	0	0	0
Brazil
Disclosure of operating segments [line items]
Revenues from contracts with customers	292	237	536	609
Brazil | Business services
Disclosure of operating segments [line items]
Revenues from contracts with customers	59	58	107	201
Brazil | Infrastructure services
Disclosure of operating segments [line items]
Revenues from contracts with customers	20	16	23	39
Brazil | Industrials
Disclosure of operating segments [line items]
Revenues from contracts with customers	213	163	406	369
Brazil | Corporate and other
Disclosure of operating segments [line items]
Revenues from contracts with customers	0	0	0	0
Mexico
Disclosure of operating segments [line items]
Revenues from contracts with customers	200	135	388	327
Mexico | Business services
Disclosure of operating segments [line items]
Revenues from contracts with customers	0	0	0	0
Mexico | Infrastructure services
Disclosure of operating segments [line items]
Revenues from contracts with customers	0	0	0	0
Mexico | Industrials
Disclosure of operating segments [line items]
Revenues from contracts with customers	200	135	388	327
Mexico | Corporate and other
Disclosure of operating segments [line items]
Revenues from contracts with customers	0	0	0	0
Other
Disclosure of operating segments [line items]
Revenues from contracts with customers	654	707	1,389	1,264
Other | Business services
Disclosure of operating segments [line items]
Revenues from contracts with customers	213	181	347	377
Other | Infrastructure services
Disclosure of operating segments [line items]
Revenues from contracts with customers	122	98	318	204
Other | Industrials
Disclosure of operating segments [line items]
Revenues from contracts with customers	319	428	724	683
Other | Corporate and other
Disclosure of operating segments [line items]
Revenues from contracts with customers	$ 0	$ 0	$ 0	$ 0

SEGMENT INFORMATION - Additiona

SEGMENT INFORMATION - Additional Information (Details)	6 Months Ended
	Jun. 30, 2021segment
Operating Segments [Abstract]
Number of operating segments	4

SEGMENT INFORMATION - Income St

SEGMENT INFORMATION - Income Statement Captions by Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Disclosure of operating segments [line items]
Revenues	$ 11,235	$ 7,370	$ 21,064	$ 17,516
Direct operating costs	(9,996)	(6,285)	(18,432)	(15,186)
General and administrative expenses	(253)	(228)	(504)	(472)
Equity accounted Company EBITDA	79	63	175	135
Gains (loss) on acquisitions / dispositions, net	178	(4)	1,312	179
Other income (expense), net	(4)	(19)	(17)	(19)
Interest income (expense), net	(351)	(353)	(699)	(717)
Current income tax (expense) recovery	(118)		(320)
Realized disposition gain, current income taxes and interest expense related to equity accounted investments	(32)	(22)	(61)	(36)
Current income tax (expense) recovery	(118)	(23)	(311)	(98)
Depreciation and amortization expense	(553)	(533)	(1,095)	(1,071)
Impairment expense, net	0	(29)	(201)	(142)
Gain (loss) on acquisitions / dispositions, net	(162)		511
Current income tax (expense) recovery			9
Other income (expense), net	(93)	168	(41)	(49)
Deferred income tax (expense) recovery	81	67	115	165
Non-cash items attributable to equity accounted investments	(40)	(23)	(78)	(90)
Net income (loss)	(29)	149	1,738	115
Share of net income	7	18	36	9	$ 57
Gains (losses) on disposals of non-current assets	16	(4)	1,823	179
Other operating income (expense)	(97)	149	(58)	(68)
Operating segments
Disclosure of operating segments [line items]
Revenues	3,553	2,690	6,726	5,895
Direct operating costs	(3,123)	(2,350)	(5,864)	(5,192)
General and administrative expenses	(106)	(92)	(202)	(197)
Equity accounted Company EBITDA	57	38	108	74
Company EBITDA	381	286	768	580
Gains (loss) on acquisitions / dispositions, net	170	0	572	45
Other income (expense), net	0	(8)	(3)	(9)
Interest income (expense), net	(117)	(115)	(230)	(229)
Current income tax (expense) recovery	(51)		(157)
Realized disposition gain, current income taxes and interest expense related to equity accounted investments	(27)	(16)	(49)	(25)
Current income tax (expense) recovery		26		5
Company FFO	356	173	901	367
Depreciation and amortization expense	(191)	(179)	(373)	(358)
Impairment expense, net		(11)	(58)	(63)
Gain (loss) on acquisitions / dispositions, net	(163)		60
Current income tax (expense) recovery			9
Other income (expense), net	(30)	(87)	(5)	(183)
Deferred income tax (expense) recovery	41	12	35	59
Non-cash items attributable to equity accounted investments	(28)	(17)	(54)	(57)
Net income (loss)	(15)	(109)	515	(235)
Unallocated amounts
Disclosure of operating segments [line items]
Revenues	7,682	4,680	14,338	11,621
Direct operating costs	(6,873)	(3,935)	(12,568)	(9,994)
General and administrative expenses	(147)	(136)	(302)	(275)
Equity accounted Company EBITDA	22	25	67	61
Gains (loss) on acquisitions / dispositions, net	8	(4)	740	134
Other income (expense), net	(4)	(11)	(14)	(10)
Interest income (expense), net	(234)	(238)	(469)	(488)
Current income tax (expense) recovery	(67)		(163)
Realized disposition gain, current income taxes and interest expense related to equity accounted investments	(5)	(6)	(12)	(11)
Current income tax (expense) recovery		(49)		(103)
Depreciation and amortization expense	(362)	(354)	(722)	(713)
Impairment expense, net		(18)	(143)	(79)
Gain (loss) on acquisitions / dispositions, net	1		451
Current income tax (expense) recovery			0
Other income (expense), net	(63)	255	(36)	134
Deferred income tax (expense) recovery	40	55	80	106
Non-cash items attributable to equity accounted investments	(12)	(6)	(24)	(33)
Net income (loss)	(14)	258	1,223	350
Business services
Disclosure of operating segments [line items]
Revenues	7,679	4,053	13,581	10,582
Depreciation and amortization expense	121	103	224	213
Business services | Operating segments
Disclosure of operating segments [line items]
Revenues	2,401	1,593	4,323	3,605
Direct operating costs	(2,220)	(1,503)	(4,007)	(3,468)
General and administrative expenses	(41)	(29)	(75)	(65)
Equity accounted Company EBITDA	5	3	8	11
Company EBITDA	145	64	249	83
Gains (loss) on acquisitions / dispositions, net	0	0	0	46
Other income (expense), net	(1)	1	(3)	3
Interest income (expense), net	(19)	(16)	(31)	(31)
Current income tax (expense) recovery	(30)		(48)
Realized disposition gain, current income taxes and interest expense related to equity accounted investments	(2)	(1)	(4)	(2)
Current income tax (expense) recovery		(9)		(18)
Company FFO	93	39	163	81
Infrastructure services
Disclosure of operating segments [line items]
Revenues	1,005	1,120	2,116	2,290
Depreciation and amortization expense	176	163	348	328
Infrastructure services | Operating segments
Disclosure of operating segments [line items]
Revenues	436	485	916	983
Direct operating costs	(325)	(344)	(680)	(691)
General and administrative expenses	(18)	(23)	(35)	(39)
Equity accounted Company EBITDA	32	30	60	51
Company EBITDA	125	148	261	304
Gains (loss) on acquisitions / dispositions, net	0	0	0	0
Other income (expense), net	1	(10)	0	(13)
Interest income (expense), net	(38)	(35)	(77)	(75)
Current income tax (expense) recovery	(1)		(8)
Realized disposition gain, current income taxes and interest expense related to equity accounted investments	(15)	(14)	(31)	(21)
Current income tax (expense) recovery		(2)		(4)
Company FFO	72	87	145	191
Industrials
Disclosure of operating segments [line items]
Revenues	2,551	2,197	5,367	4,644
Depreciation and amortization expense	256	267	523	530
Industrials | Operating segments
Disclosure of operating segments [line items]
Revenues	716	612	1,487	1,307
Direct operating costs	(574)	(500)	(1,170)	(1,028)
General and administrative expenses	(17)	(19)	(40)	(48)
Equity accounted Company EBITDA	20	5	40	12
Company EBITDA	145	98	317	243
Gains (loss) on acquisitions / dispositions, net	170	0	572	(1)
Other income (expense), net	0	1	0	1
Interest income (expense), net	(57)	(63)	(115)	(128)
Current income tax (expense) recovery	(32)		(123)
Realized disposition gain, current income taxes and interest expense related to equity accounted investments	(10)	(1)	(14)	(2)
Current income tax (expense) recovery		27		6
Company FFO	216	62	637	119
Corporate and other
Disclosure of operating segments [line items]
Revenues	0	0	0	0
Depreciation and amortization expense	0	0	0	0
Corporate and other | Operating segments
Disclosure of operating segments [line items]
Revenues	0	0	0	0
Direct operating costs	(4)	(3)	(7)	(5)
General and administrative expenses	(30)	(21)	(52)	(45)
Equity accounted Company EBITDA	0	0	0	0
Company EBITDA	(34)	(24)	(59)	(50)
Gains (loss) on acquisitions / dispositions, net	0	0	0	0
Other income (expense), net	0	0	0	0
Interest income (expense), net	(3)	(1)	(7)	5
Current income tax (expense) recovery	12		22
Realized disposition gain, current income taxes and interest expense related to equity accounted investments	0	0	0	0
Current income tax (expense) recovery		10		21
Company FFO	$ (25)	$ (15)	$ (44)	$ (24)

SEGMENT INFORMATION - Assets by

SEGMENT INFORMATION - Assets by Segment (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Disclosure of operating segments [line items]
Total assets	$ 53,525	$ 54,746
Business services
Disclosure of operating segments [line items]
Total assets	21,199	19,884
Infrastructure services
Disclosure of operating segments [line items]
Total assets	10,430	10,839
Industrials
Disclosure of operating segments [line items]
Total assets	21,819	23,929
Corporate and other
Disclosure of operating segments [line items]
Total assets	$ 77	$ 94

SUPPLEMENTAL CASH FLOW INFORM_3

SUPPLEMENTAL CASH FLOW INFORMATION - Interest and Income Taxes Paid (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash Flow Statement [Abstract]
Interest paid	$ 608	$ 565
Income taxes paid	$ 228	$ 102

SUPPLEMENTAL CASH FLOW INFORM_4

SUPPLEMENTAL CASH FLOW INFORMATION - Non-cash Working Capital (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash Flow Statement [Abstract]
Accounts receivable	$ (401)	$ 637
Inventory	(339)	200
Prepayments and other	(125)	89
Accounts payable and other	580	(102)
Changes in non-cash working capital, net	$ (285)	$ 824

INSURANCE CONTRACTS - Movement

INSURANCE CONTRACTS - Movement in Premiums and Unearned Premiums Reserve (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Insurance Contracts [Abstract]
Unearned premiums reserve, beginning of the period	$ 1,889	$ 1,625
Premiums written during the period	486	744
Premiums earned during the period	(308)	(521)
Foreign currency translation	51	41
Unearned premiums reserve, end of the period	$ 2,118	$ 1,889

INSURANCE CONTRACTS - Component

INSURANCE CONTRACTS - Components of Loss Reserves (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Insurance Contracts [Abstract]
Case reserves	$ 63	$ 78
Incurred but not reported reserves	42	53
Discounting	(1)	(1)
Provision for adverse deviation	10	14
Total loss reserves	$ 114	$ 144	$ 105

INSURANCE CONTRACTS - Movemen_2

INSURANCE CONTRACTS - Movement in Loss Reserves (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Insurance Contracts [Abstract]
Loss reserves, beginning of the period	$ 144	$ 105
Claims paid during the period	(26)	(50)
Losses on claims related to the current period	(7)	85
Foreign currency translation	3	4
Loss reserves, end of the period	$ 114	$ 144

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details)	Aug. 05, 2021$ / shares
Distribution
Disclosure of non-adjusting events after reporting period [line items]
Distributions declared (in dollars per share)	$ 0.0625