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Basis of Presentation
This news release and accompanying financial statements are based on International Financial Reporting Standards (“IFRS”), as issued by the International Accounting Standards Board (“IASB”), unless otherwise noted.
We make reference to
Funds from Operations (“FFO”). We define FFO as net income attributable to shareholders prior to fair value changes, depreciation and amortization, and deferred income taxes, and include realized disposition gains that are not recorded in net income as determined under IFRS. FFO also includes the company’s share of equity accounted investments’ FFO on a fully diluted basis. FFO consists of the following components:
FFO from Operating Activities represents the company’s share of revenues less direct costs and interest expenses; excludes realized carried interest and disposition gains, fair value changes, depreciation and amortization and deferred income taxes; and includes our proportionate share of FFO from
Brookfield Asset Management Inc: Brookfield Asset Management Reports Record Financial Results and Announces a Dividend Increase of 8%
(US$ millions, except per share amounts)
Three Months Ended
2,3
Excludes amounts attributable to non-controlling interests.
2019 per share amounts have been updated to reflect BAM s three-for-two stock split effective April 1, 2020.
See Basis of Presentation on page 8 and a reconciliation of net income to FFO on page 5.
Performance in the fourth quarter was very strong, resulting in net income of $1.8 billion and record funds from operations (FFO) of $2.1 billion, driven by an increase in fee-related earnings, the growth and stability in our operating businesses and disposition gains recognized on asset sales. Fee-related earnings for the quarter were $411 million. This reflects increases in our private fund capital as well as higher market capitalizations across our listed affiliates. In particular, the launches of BIPC and BEPC have been very
OTTAWA Brookfield Asset Management Inc. raised its dividend as it reported a fourth-quarter profit of US$1.8 billion, up from US$1.6 billion a year earlier. The asset manager, which keeps its books in U.S. dollars, says it will now pay a quarterly dividend of 13 cents per share, up from 12 cents. The increased payment […]
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