| Dec'17 | Dec'16 | Dec'15 | ||||
|---|---|---|---|---|---|---|
Operating activities | ||||||
Net income | ||||||
2,468 | 2,717 | 3,766 | ||||
Share of equity accounted earnings, net of distributions | ||||||
592 | 495 | 1,315 | ||||
Fair value (gains), net | ||||||
1,254 | 692 | 2,007 | ||||
Deferred income tax expense | ||||||
20 | -711 | 25 | ||||
Depreciation and amortization | ||||||
275 | 240 | 180 | ||||
Working capital and other | ||||||
278 | 314 | 59 | ||||
Cash flows from (used in) operating activities | ||||||
639 | 745 | 590 | ||||
Financing activities | ||||||
Debt obligations, issuance | ||||||
17,154 | 16,769 | 11,767 | ||||
Debt obligations, repayments | ||||||
14,124 | 14,733 | 8,310 | ||||
Capital securities issued | ||||||
249 | 0 | 0 | ||||
Capital securities redeemed | ||||||
297 | 171 | 29 | ||||
Non-controlling interests, issued | ||||||
2,391 | 2,996 | 1,663 | ||||
Non-controlling interests, purchased | ||||||
480 | 146 | 313 | ||||
Repurchases of limited partnership units | ||||||
136 | 59 | 36 | ||||
Distributions to non-controlling interests in operating subsidiaries | ||||||
2,679 | 954 | 809 | ||||
Distributions to limited partnership unitholders | ||||||
301 | 293 | 276 | ||||
Distributions to redeemable/exchangeable and special limited partnership unitholders | ||||||
516 | 490 | 464 | ||||
Distributions to holders of Brookfield Office Properties Exchange LP units | ||||||
13 | 13 | 15 | ||||
Cash flows from (used in) financing activities | ||||||
1,248 | 2,906 | 3,178 | ||||
Investing activities | ||||||
Investment properties and subsidiaries, proceeds of dispositions | ||||||
4,729 | 3,312 | 2,167 | ||||
Property acquisitions and capital expenditures | ||||||
5,879 | 7,711 | 7,899 | ||||
Investment in equity accounted investments | ||||||
1,060 | 465 | 2,374 | ||||
Proceeds from sale and distributions of equity accounted investments and participating loan interests | ||||||
1,006 | 1,092 | 1,656 | ||||
Financial assets and other | ||||||
411 | -522 | -627 | ||||
Property, plant and equipment investments, net of dispositions | ||||||
271 | 215 | 52 | ||||
Intangible assets, dispositions | ||||||
2 | 147 | 0 | ||||
Cash acquired in business combinations | ||||||
-52 | 115 | 85 | ||||
Restricted cash and deposits | ||||||
50 | -31 | 1,856 | ||||
Cash flows from (used in) investing activities | ||||||
-1,886 | -3,234 | -3,934 | ||||
Cash and cash equivalents | ||||||
Net change in cash and cash equivalents during the period | ||||||
1 | 417 | -166 | ||||
Effect of exchange rate fluctuations on cash and cash equivalents held in foreign currencies | ||||||
34 | 4 | -81 | ||||
Supplemental cash flow information | ||||||
Cash paid for: | ||||||
Income taxes | ||||||
82 | 131 | 83 | ||||
Interest (excluding dividends on capital securities) | ||||||
1,567 | 1,383 | 1,249 | ||||