$BKAMF

BROOKFIELD ASSET MANAGEMENT INC.

CIK:0001001085|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Profit or loss [abstract]
Revenue	$ 75,100	$ 86,006
Direct costs	(56,973)	(67,936)
Other income and gains	2,386	1,247
Equity accounted income	2,557	2,729
Expenses
Interest expense on borrowings	(742)	(727)
Interest Expense on Non-Recourse Borrowings	(16,358)	(15,888)
Corporate costs	(78)	(76)
Fair value changes	(1,522)	(2,520)
Tax expense (income)	(1,135)	(982)
Net income	3,235	1,853
Net income attributable to:
Shareholders	1,307	641
Non-controlling interests	1,928	1,212
Net income	$ 3,235	$ 1,853
Net income per share:
Diluted	$ 0.49	$ 0.20
Basic	$ 0.51	$ 0.21

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Operating activities
Net income	$ 3,235	$ 1,853
Other income and gains	(2,386)	(1,247)
Distributions in excess of (less than) equity accounted earnings	1,552	(641)
Fair value changes	1,522	2,520
Depreciation and amortization	10,379	9,737
Deferred income taxes	(771)	(341)
Proceeds from (purchases of) residential inventory	564	(108)
Net change in working capital	(3,137)	(4,204)
Cash flows from (used in) operating activities	10,958	7,569
Financing activities
Corporate borrowings arranged	1,864	2,082
Corporate borrowings repaid	(1,118)	(571)
Commercial paper and borrowings, net	(767)	736
Non-recourse borrowings arranged	118,622	109,844
Non-recourse borrowings repaid	(95,596)	(84,288)
Non-recourse credit facilities arranged and repaid, net	2,269	(24)
Subsidiary equity obligations issued and redeemed, net	317	648
Deposits From Related Party	1,583	1,471
Deposit From Related Parties Repaid	(1,210)	(1,121)
Capital provided by non-controlling interests	19,537	13,444
Capital repaid to non-controlling interests	(8,057)	(4,365)
Proceeds from issue of preference shares	175	0
Other financing activities, net	1,821	1,564
(Settlement) Receipt of deferred consideration	(390)	68
Common shares issued	9	19
Distributions to non-controlling interests	(15,465)	(7,815)
Distributions to common and preferred shareholders	(719)	(663)
Cash flows from (used in) financing activities	21,687	26,900
Acquisitions
Investment properties	(6,313)	(11,141)
Property, plant and equipment	(14,752)	(11,172)
Equity accounted investments	(9,365)	(7,074)
Financial assets and other	(16,907)	(11,405)
Acquisition of subsidiaries, net of cash acquired	(18,417)	(6,453)
Dispositions
Investment properties	6,907	4,107
Property, plant and equipment	2,306	2,773
Equity accounted investments	3,221	1,087
Financial assets and other	12,069	8,216
Disposition of subsidiaries, net of cash disposed	10,395	1,049
Restricted cash and deposits	(921)	49
Cash flows from (used in) investing activities	(31,777)	(29,964)
Cash and cash equivalents
Change in cash and cash equivalents	868	4,505
Foreign currency revaluation	252	(461)
Balance, beginning of period	15,051	11,222
Balance, end of period	16,242	15,051
Supplemental Cash Flow Information [Abstract]
Net change in cash classified within assets held for sale	71	(215)
Incomes Taxes Paid Classified As Supplemental Cash Flow Disclosure	2,225	2,674
Interest Paid Classified As Supplemental Cash Flow Disclosure	14,516	14,289
Preferred equity
Financing activities
Common shares repurchased	(179)	0
Common shares
Financing activities
Common shares repurchased	$ (1,009)	$ (1,001)

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	12 Months Ended
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Assets
Cash and cash equivalents	$ 16,242	$ 15,051
Other financial assets	30,033	25,887
Accounts receivable and other	33,509	30,218
Inventory	8,849	8,458
Assets classified as held for sale	12,780	10,291
Equity accounted investments	79,881	68,310
Investment properties	85,613	103,665
Property, plant and equipment	165,992	153,019
Intangible assets	38,496	36,072
Goodwill	43,355	35,730
Deferred income tax assets	4,221	3,723
Total assets	518,971	490,424
Liabilities and Equity
Corporate Borrowings	14,301	14,232
Accounts payable and other	56,457	55,502
Liabilities associated with assets classified as held for sale	5,891	4,721
Non-recourse borrowings of managed entities	245,311	220,560
Deferred income tax liabilities	27,009	25,267
Subsidiary equity obligations	3,808	4,759
Equity [abstract]
Equity	166,194	165,383
Total liabilities and equity	$ 518,971	490,424
Document Fiscal Year Focus	2025
Non-controlling interests
Equity [abstract]
Equity	$ 118,308	119,406
Preferred shares \| Preferred equity
Equity [abstract]
Equity	4,090	4,103
Preferred shares \| Non-controlling interests
Equity [abstract]
Equity	4,828	5,017
Common shares \| Non-controlling interests
Equity [abstract]
Equity	113,480	114,389
Common shares \| Common equity
Equity [abstract]
Equity	$ 43,796	$ 41,874