21 results
40-F
2023 FY
BN
Brookfield Corporation - Ordinary Shares
18 Mar 24
Annual report (Canada)
8:09pm
The following is a list of the Corporation’s principal subsidiaries, which consists of the asset management business and four perpetual affiliates. For each such subsidiary, the below table indicates the jurisdiction of formation, the percentage of voting securities beneficially owned, or over which control or direction is exercised, directly or indirectly, by the Corporation (on a fully exchanged basis), and the respective equity ownership of the Corporation, in each case, except as otherwise described, as at December 31, 2023.
Name | Jurisdiction of Formation | Percentage of Voting Securities Owned, Controlled or Directed | Equity Ownership Interest | ||||||||
Brookfield Asset Management ULC (a) | British Columbia | 75% | 75% | ||||||||
Brookfield Business Partners L.P. (b)(c) | Bermuda | 100% | 66% | ||||||||
Brookfield Infrastructure Partners L.P. (d)(e) | Bermuda | 100% | 26% | ||||||||
Brookfield Renewable Partners L.P. (f)(g) | Bermuda | 100% | 45% | ||||||||
Brookfield Property Partners L.P. (h) | Bermuda | 100% | 100% | ||||||||
(a) The Corporation, directly and indirectly, holds approximately 75% of the Brookfield Asset Management ULC (the “Asset Management Company”) common shares. The remaining approximately 25% of the Asset Management Company common shares are held by Brookfield Asset Management Ltd. (the “Manager”). (b) The Corporation owns a 100% general partnership interest. The Corporation owns general partnership units, limited partnership units (“BBU LP Units”), units exchangeable into BBU LP Units and class A exchangeable subordinate voting shares (“BBUC exchangeable shares”) of Brookfield Business Corporation (“BBUC”), a subsidiary of Brookfield Business Partners L.P. (“BBU”) (which are exchangeable into BBU LP Units) representing an approximate 66% economic ownership interest in BBU (on a fully exchanged basis). (c) The Corporation, directly and indirectly, holds approximately 65% of the BBUC exchangeable shares. In addition, BBU, which itself is controlled by the Corporation, holds all of the issued and outstanding BBUC class B shares, having a 75% voting interest in BBUC, and BBUC class C shares. Through their ownership of BBUC exchangeable shares and BBUC class B shares, the Corporation and BBU collectively hold an approximate 91% voting interest in BBUC. (d) The Corporation owns a 100% general partnership interest. The Corporation owns general partnership units, limited partnership units (“BIP LP Units”), units exchangeable into BIP LP Units and class A exchangeable subordinate voting shares (“BIPC exchangeable shares”) of Brookfield Infrastructure Corporation (“BIPC”), a subsidiary of Brookfield Infrastructure Partners L.P. (“BIP”) (which are exchangeable into BIP LP Units) representing an approximate 26% economic ownership interest in BIP (on a fully exchanged basis). The Corporation and Brookfield Reinsurance Ltd. (“Brookfield Reinsurance”) and their related parties (collectively, the “Brookfield Holders”) collectively own BIP LP Units, units exchangeable into BIP LP Units and BIPC exchangeable shares representing an approximate 27% economic ownership interest in BIP (on a fully exchanged basis). The Corporation and Brookfield Reinsurance have agreed that all decisions made by Brookfield Reinsurance with respect to the voting of the BIP LP Units held by Brookfield Reinsurance will be made jointly by mutual agreement of the applicable Brookfield Reinsurance subsidiary and the Corporation. Brookfield Reinsurance may acquire additional BIP LP Units or other securities exchangeable for BIP LP Units. It is expected that any BIP LP Units or other securities exchangeable for BIP LP Units held by Brookfield Reinsurance will be subject to the foregoing voting arrangements. (e) The Corporation, directly and indirectly, holds approximately 10% of the BIPC exchangeable shares. In addition, BIP, which itself is controlled by the Corporation, holds all of the issued and outstanding BIPC class B shares, having a 75% voting interest in BIPC, and BIPC class C shares. Through their ownership of BIPC exchangeable shares and BIPC class B shares, the Corporation and BIP collectively hold an approximate 77% voting interest in BIPC. (f) The Corporation owns a 100% general partnership interest. The Corporation owns general partnership units, limited partnership units (“BEP LP Units”), units exchangeable into BEP LP Units and class A exchangeable subordinate voting shares (“BEPC exchangeable shares”) of Brookfield Renewable Corporation (“BEPC”), a subsidiary of Brookfield Renewable Partners L.P. (“BEP”) (which are exchangeable into BEP LP Units) representing an approximate 45% economic ownership interest in BEP (on a fully exchanged basis). The Brookfield Holders collectively own BEP LP Units, units exchangeable into BEP LP Units and BEPC exchangeable shares representing an approximate 47% economic ownership interest in BEP (on a fully exchanged basis). The Corporation and Brookfield Reinsurance have agreed that all decisions made by Brookfield Reinsurance with respect to the voting of the BEP LP Units and BEPC exchangeable shares held by Brookfield Reinsurance will be made jointly by mutual agreement of the applicable Brookfield Reinsurance subsidiary and the Corporation. Brookfield Reinsurance may acquire additional BEP LP Units, BEPC exchangeable shares or other securities exchangeable for BEP LP Units or BEPC exchangeable shares. It is expected that any BEP LP Units, BEPC exchangeable shares or other securities exchangeable for BEP LP Units or BEPC exchangeable shares held by Brookfield Reinsurance will be subject to the foregoing voting arrangements. (g) The Brookfield Holders, directly and indirectly, hold approximately 25% of the BEPC exchangeable shares. In addition, BEP, which itself is controlled by the Corporation, holds all of the issued and outstanding BEPC class B shares, having a 75% voting interest in BEPC, and BEPC class C shares. Through their ownership of BEPC exchangeable shares and BEPC class B shares, the Brookfield Holders and BEP collectively hold an approximate 81% voting interest in BEPC. (h) The Corporation indirectly owns a 100% general partnership interest. The Corporation indirectly owns general partnership units, limited partnership units (“BPY LP Units”) and units exchangeable into BPY LP Units of Brookfield Property Partners L.P. (“BPY”). The Corporation holds an approximate 100% economic ownership interest in BPY (on a fully exchanged, “as-converted” basis). |
40-F
2023 FY
BN
Brookfield Corporation - Ordinary Shares
18 Mar 24
Annual report (Canada)
8:09pm
Class A Preference Shares, Series 18 (TSX: BN.PR.N) | Class A Preference Shares, Series 24 (TSX: BN.PR.R) | ||||||||||||||||||||||||||||
Price Per Share (C$) | Price Per Share (C$) | ||||||||||||||||||||||||||||
Period 2023 | High | Low | Average | Volume Traded | High | Low | Average | Volume Traded | |||||||||||||||||||||
January | 19.69 | 17.78 | 19.02 | 239,037 | 15.38 | 13.88 | 14.90 | 64,402 | |||||||||||||||||||||
February | 19.57 | 18.75 | 19.20 | 66,333 | 15.65 | 14.75 | 15.14 | 68,600 | |||||||||||||||||||||
March | 18.95 | 18.01 | 18.47 | 61,950 | 14.96 | 13.45 | 14.05 | 134,250 | |||||||||||||||||||||
April | 18.73 | 18.39 | 18.52 | 75,781 | 13.89 | 13.38 | 13.69 | 51,335 | |||||||||||||||||||||
May | 18.52 | 17.12 | 18.07 | 39,660 | 13.60 | 12.44 | 13.16 | 85,483 | |||||||||||||||||||||
June | 17.77 | 17.02 | 17.32 | 52,480 | 13.31 | 12.70 | 13.10 | 182,663 | |||||||||||||||||||||
July | 17.76 | 17.07 | 17.38 | 44,664 | 14.52 | 13.00 | 13.69 | 184,465 | |||||||||||||||||||||
August | 17.48 | 16.18 | 16.97 | 99,333 | 14.11 | 12.80 | 13.36 | 116,369 | |||||||||||||||||||||
September | 17.12 | 16.03 | 16.60 | 79,188 | 13.40 | 12.70 | 12.94 | 91,475 | |||||||||||||||||||||
October | 16.40 | 15.08 | 15.89 | 89,132 | 13.00 | 11.77 | 12.60 | 154,491 | |||||||||||||||||||||
November | 17.10 | 15.30 | 16.21 | 276,500 | 13.76 | 12.17 | 12.89 | 145,967 | |||||||||||||||||||||
December | 17.11 | 16.33 | 16.73 | 198,540 | 14.38 | 13.68 | 13.97 | 116,813 |
40-F
2023 FY
BN
Brookfield Corporation - Ordinary Shares
18 Mar 24
Annual report (Canada)
8:09pm
Class A Preference Shares, Series 44 (TSX: BN.PF.H) | Class A Preference Shares, Series 46 (TSX: BN.PF.I) | |||||||||||||||||||||||||||||||
Price Per Share (C$) | Price Per Share (C$) | |||||||||||||||||||||||||||||||
Period 2023 | High | Low | Average | Volume Traded | High | Low | Average | Volume Traded | ||||||||||||||||||||||||
January | 24.75 | 23.23 | 24.04 | 88,693 | 23.73 | 22.50 | 23.05 | 51,710 | ||||||||||||||||||||||||
February | 24.20 | 23.61 | 23.85 | 82,028 | 23.50 | 22.63 | 23.06 | 88,704 | ||||||||||||||||||||||||
March | 23.86 | 21.55 | 22.70 | 148,212 | 22.79 | 20.15 | 21.37 | 217,917 | ||||||||||||||||||||||||
April | 22.00 | 20.40 | 21.30 | 57,071 | 20.40 | 19.48 | 19.97 | 118,704 | ||||||||||||||||||||||||
May | 20.97 | 20.05 | 20.63 | 150,059 | 20.25 | 19.41 | 19.88 | 152,500 | ||||||||||||||||||||||||
June | 20.97 | 19.50 | 20.17 | 141,758 | 20.00 | 19.00 | 19.42 | 86,548 | ||||||||||||||||||||||||
July | 20.38 | 18.85 | 19.75 | 217,762 | 20.21 | 18.57 | 19.31 | 151,395 | ||||||||||||||||||||||||
August | 20.55 | 18.22 | 19.64 | 142,331 | 20.14 | 18.00 | 18.88 | 176,103 | ||||||||||||||||||||||||
September | 19.85 | 18.75 | 19.33 | 130,723 | 18.94 | 17.60 | 18.17 | 139,506 | ||||||||||||||||||||||||
October | 19.20 | 18.30 | 18.82 | 122,748 | 17.80 | 16.37 | 17.21 | 246,711 | ||||||||||||||||||||||||
November | 21.13 | 18.65 | 19.75 | 157,627 | 18.71 | 16.78 | 17.71 | 204,492 | ||||||||||||||||||||||||
December | 20.75 | 19.51 | 20.15 | 244,468 | 19.63 | 18.60 | 19.05 | 225,728 |
40-F
2023 FY
BN
Brookfield Corporation - Ordinary Shares
18 Mar 24
Annual report (Canada)
8:09pm
Series | Ticker | Authorized | Issued and Outstanding | Aggregate Issuance Amount (C$ millions) 1 | Cumulative Dividend Rate | Earliest Redemption Date | Redemption Price Per Share (C$) 2 | Holder’s Conversion Option | Corporation’s Conversion Option | |||||||||||||||||||||||||||||||||||||||||||||||
39 | N/A | 8,000,000 | nil | nil | An amount equal to the sum of the three-month Government of Canada Treasury Bill Rate plus 2.55% | March 31, 2020 | 25.00 for redemptions on March 31, 2025 or March 31 every five years thereafter; 25.50 otherwise | Into Series 38 on a one-for-one basis on March 31, 2025 and on March 31 every five years thereafter and automatically in certain circumstances | N/A | |||||||||||||||||||||||||||||||||||||||||||||||
40 | BN.PF.F | 11,841,025 | 11,841,025 | 296 | 4.5% until September 30, 2019; thereafter the Annual Fixed Dividend Rate for each 5-year fixed rate period will be the sum of the 5-year Government of Canada bond yield plus 2.86% | On September 30 in every fifth year after September 30, 2019 | 25.00 | Into Series 41 on a one-for one basis on September 30, 2019 and on September 30 every five years thereafter and automatically in certain circumstances | N/A | |||||||||||||||||||||||||||||||||||||||||||||||
41 | N/A | 12,000,000 | nil | nil | An amount equal to the sum of the three-month Government of Canada Treasury Bill Rate plus 2.86% | September 30, 2019 | 25.00 for redemptions on September 30, 2024 or September 30 every five years thereafter; 25.50 otherwise | Into Series 40 on a one-for-one basis on September 30, 2024 and on September 30 every five years thereafter and automatically in certain circumstances | N/A | |||||||||||||||||||||||||||||||||||||||||||||||
42 | BN.PF.G | 11,887,500 | 11,887,500 | 297 | 4.5% until June 30, 2020 ; thereafter the Annual Fixed Dividend Rate for each 5-year fixed rate period will be the sum of the 5-year Government of Canada bond yield plus 2.84% | On June 30 in every fifth year after June 30, 2020 | 25.00 | Into Series 43 on a one-for-one basis on June 30, 2020 and on June 30 every five years thereafter and automatically in certain circumstances | N/A | |||||||||||||||||||||||||||||||||||||||||||||||
43 | N/A | 12,000,000 | nil | nil | An amount equal to the sum of the three-month Government of Canada Treasury Bill Rate plus 2.84% | June 30, 2020 | 25.00 for redemptions on June 30, 2025 or June 30 every five years thereafter; 25.50 otherwise | Into Series 42 on a one-for-one basis on June 30, 2025 and on June 30 every five years thereafter and automatically in certain circumstances | N/A | |||||||||||||||||||||||||||||||||||||||||||||||
44 | BN.PF.H | 9,831,929 | 9,831,929 | 246 | 5% until December 31, 2020; thereafter the Annual Fixed Dividend Rate for each 5-year fixed rate period will be the greater of (i) the sum of the 5-year Government of Canada bond yield plus 4.17%, and (ii) 5% | On December 31 in every fifth year after December 31, 2020 | 25.00 | Into Series 45 on a one-for-one basis on December 31, 2020 and on December 31 every five years thereafter and automatically in certain circumstances | N/A | |||||||||||||||||||||||||||||||||||||||||||||||
Notes: 1 Rounded to the nearest million. 2 Together with accrued and unpaid dividends. |
40-F
2023 FY
BN
Brookfield Corporation - Ordinary Shares
18 Mar 24
Annual report (Canada)
8:09pm
2023 | 2022 | ||||||||||||||||||||||||||||||||||||||||
YEARS ENDED DECEMBER 31 (MILLIONS) | Brookfield | Subsidiaries of Brookfield | Total | Brookfield | Subsidiaries of Brookfield | Total | |||||||||||||||||||||||||||||||||||
Audit Fees | $ | 2.3 | $ | 76.8 | $ | 79.1 | $ | 2.6 | $ | 45.0 | $ | 47.6 | |||||||||||||||||||||||||||||
Audit-Related Fees | — | 30.6 | 30.6 | — | 59.2 | 59.2 | |||||||||||||||||||||||||||||||||||
Tax Fees | — | 7.1 | 7.1 | — | 3.7 | 3.7 | |||||||||||||||||||||||||||||||||||
All Other Fees | — | 0.7 | 0.7 | — | 0.5 | 0.5 | |||||||||||||||||||||||||||||||||||
Total | $ | 2.3 | $ | 115.2 | $ | 117.5 | $ | 2.6 | $ | 108.4 | $ | 111.0 | |||||||||||||||||||||||||||||
40-F
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18 Mar 24
Annual report (Canada)
8:09pm
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