$BEP
Brookfield Renewable Energy Partners L.P.
CIK:0001533232|SEC Filings
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Operating activities | |||
| Net income (loss) | $ 712 | $ (9) | $ 616 |
| Adjustments for the following non-cash items: | |||
| Depreciation | 2,425 | 2,010 | 1,852 |
| Unrealized foreign exchange and financial instrument gain | (1,367) | (977) | (492) |
| Share of loss (earnings) from equity-accounted investments | 110 | 88 | (186) |
| Deferred income tax | (365) | (31) | (176) |
| Other non-cash items | (102) | 391 | (282) |
| Dividends received from equity-accounted investments | 159 | 90 | 58 |
| Cash flows from (used in) operations before changes in related parties and working capital balances | 1,572 | 1,562 | 1,390 |
| Changes in due to or from related parties | 250 | 44 | 7 |
| Net change in working capital balances | (675) | (332) | 468 |
| Cash flows from (used in) operating activities | 1,147 | 1,274 | 1,865 |
| Financing activities | |||
| Repayment of medium-term notes | (291) | 0 | 0 |
| Corporate credit facilities, net | (240) | 240 | 0 |
| Commercial paper, net | (236) | 248 | (65) |
| Proceeds from non-recourse borrowings | 15,954 | 10,667 | 8,316 |
| Repayment of non-recourse borrowings | (10,048) | (8,681) | (6,037) |
| Capital contributions from participating non-controlling interests – in operating subsidiaries | 3,125 | 2,343 | 2,593 |
| Capital repaid to participating non-controlling interests – in operating subsidiaries | (1,397) | (317) | (248) |
| Issuance of equity instruments, net of related costs | 632 | 145 | 630 |
| Redemption and repurchase of equity instruments | (34) | (182) | (43) |
| Distributions paid: | |||
| To participating non-controlling interests – in operating subsidiaries, preferred shareholders, preferred limited partners unitholders, and perpetual subordinate notes | (2,933) | (993) | (967) |
| To unitholders of Brookfield Renewable or BRELP and shareholders of Brookfield Renewable Corporation | (1,140) | (1,061) | (990) |
| Inflows from related party | 6,723 | 5,955 | 670 |
| Outflows to related party | (4,188) | (1,440) | (1,556) |
| Cash flows from (used in) financing activities | 6,418 | 7,649 | 2,596 |
| Investing activities | |||
| Acquisitions, net of cash and cash equivalents in acquired entity | (4,435) | (2,940) | (791) |
| Investment in equity-accounted investments | (175) | (389) | (725) |
| Investment in property, plant and equipment | (6,587) | (3,733) | (2,809) |
| Proceeds from disposal of assets, net of cash and cash equivalents disposed | 2,817 | 1,092 | 217 |
| Purchase of financial assets | (245) | (979) | (644) |
| Proceeds from financial assets | 346 | 183 | 431 |
| Restricted cash and other | (368) | (34) | (35) |
| Cash flows from (used in) investing activities | (8,647) | (6,800) | (4,356) |
| (Decrease) increase | (1,082) | 2,123 | 105 |
| Foreign exchange gain (loss) on cash | 121 | (95) | 38 |
| Balance, beginning of year | 3,135 | 1,141 | 998 |
| Balance, end of year | 2,093 | 3,135 | 1,141 |
| Supplemental cash flow information: | |||
| Net change in cash classified within assets held for sale | (81) | (34) | 0 |
| Interest paid | 2,409 | 1,917 | 1,353 |
| Interest received | 111 | 109 | 112 |
| Income taxes paid | 176 | 112 | 194 |
| Medium term notes | |||
| Financing activities | |||
| Proceeds from medium-term notes | 307 | 586 | 293 |
| Hybrid notes | |||
| Financing activities | |||
| Proceeds from medium-term notes | $ 184 | $ 139 | $ 0 |
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Current assets | ||
| Cash and cash equivalents | $ 2,093 | $ 3,135 |
| Restricted cash | 220 | 286 |
| Trade receivables and other current assets | 2,542 | 2,124 |
| Financial instrument assets | 357 | 368 |
| Due from related parties | 944 | 873 |
| Assets held for sale | 6,142 | 2,049 |
| Total current assets | 12,298 | 8,835 |
| Financial instrument assets | 4,395 | 3,054 |
| Equity-accounted investments | 4,087 | 2,740 |
| Property, plant and equipment, at fair value | 70,456 | 73,475 |
| Goodwill | 6,019 | 5,434 |
| Deferred income tax assets | 493 | 330 |
| Other long-term assets | 953 | 941 |
| Total Assets | 98,701 | 94,809 |
| Current liabilities | ||
| Accounts payable and accrued liabilities | 2,246 | 2,104 |
| Financial instrument liabilities | 670 | 636 |
| Due to related parties | 7,071 | 4,855 |
| Corporate borrowings | 194 | 709 |
| Non-recourse borrowings | 7,384 | 5,005 |
| Provisions | 112 | 220 |
| Liabilities directly associated with assets held for sale | 4,021 | 1,036 |
| Total current liabilities | 21,698 | 14,565 |
| Financial instrument liabilities | 1,798 | 2,790 |
| Corporate borrowings | 3,492 | 3,093 |
| Non-recourse borrowings | 23,822 | 25,583 |
| Deferred income tax liabilities | 9,395 | 8,439 |
| Provisions | 1,005 | 1,215 |
| Due to related parties | 693 | 592 |
| Other long-term liabilities | 1,824 | 2,076 |
| Equity | ||
| Preferred limited partners’ equity | 634 | 634 |
| Limited partners’ equity | 3,970 | 3,604 |
| Total Equity | 34,974 | 36,456 |
| Total Liabilities and Equity | 98,701 | 94,809 |
| Non-controlling interest | ||
| Current assets | ||
| Cash and cash equivalents | 1,271 | 2,381 |
| Property, plant and equipment, at fair value | 39,365 | 44,357 |
| Equity | ||
| Total Equity | 30,370 | 32,218 |
| Participating non-controlling interests – in operating subsidiaries | ||
| Equity | ||
| Non-controlling interests | 24,164 | 26,168 |
| Total Equity | 24,164 | 26,168 |
| General partnership interest in a holding subsidiary held by Brookfield | ||
| Equity | ||
| Non-controlling interests | 52 | 50 |
| Total Equity | 52 | 50 |
| Participating non-controlling interests – in a holding subsidiary – Redeemable/Exchangeable units held by Brookfield | ||
| Equity | ||
| Non-controlling interests | 2,524 | 2,457 |
| Total Equity | 2,524 | 2,457 |
| BEPC exchangeable shares and class A.2 exchangeable shares | ||
| Equity | ||
| Non-controlling interests | 2,330 | 2,269 |
| Total Equity | 2,330 | 2,269 |
| Preferred equity | ||
| Equity | ||
| Non-controlling interests | 563 | 537 |
| Total Equity | 563 | 537 |
| Perpetual subordinated notes | ||
| Equity | ||
| Non-controlling interests | 737 | 737 |
| Total Equity | $ 737 | $ 737 |