Financial Reporting - Brookfield Corporation's financial information is presented in U.S. dollars and prepared in accordance with U.S. GAAP[31]. - The financial statements are unaudited unless otherwise indicated, highlighting the need for careful evaluation of the data presented[31]. - The annual report includes audited consolidated statements of financial position for the fiscal years ended December 31, 2024, and 2023[14]. - The annual report for the fiscal year ended December 31, 2024, will include audited consolidated statements and management's discussion and analysis[17]. Performance Measures - Distributable Operating Earnings (DOE) is a key measure of financial performance, defined as net income after applicable taxes excluding certain costs and adjustments[33]. - The company emphasizes the importance of non-GAAP measures for assessing overall business performance, including adjusted equity and total corporate liquidity[32]. - The company utilizes a variety of financial measures to monitor business performance, including cost of funds and total liquidity[33]. - Adjusted equity represents the total economic equity of the company through its class A, B, and C shares, excluding accumulated other comprehensive income[33]. - Corporate liquidity includes cash and cash equivalents, undrawn revolving credit facilities, and liquid financial assets held by non-regulated corporate entities[33]. - Total liquidity includes liquidity within regulated insurance entities, providing a comprehensive view of the company's liquidity position[33]. Forward-Looking Statements - Forward-looking statements reflect management's estimates and beliefs regarding future performance and economic conditions[25]. - Historical performance and market data may not be indicative of future results, cautioning investors against relying solely on past data[30]. - The company undertakes no obligation to publicly update or revise forward-looking statements based on new information or future events[27]. - Forward-looking statements are based on management's current estimates and beliefs regarding future results and conditions, subject to significant uncertainties[25]. Acquisitions - AEL Holdings was acquired for approximately 55.00 per share, completed on May 2, 2024[1]. - The acquisition of Argo Group International Holdings was completed for approximately 30 per share on November 16, 2023[1]. Special Distributions - The company has a special distribution of BAM Shares to holders of class A exchangeable shares and class B shares[22].
Brookfield Reinsurance .(BNRE_A) - 2024 Q4 - Annual Report