Brookfield Business Partners L.P. Files 20-F Annual Report for FY 2023

Ticker: BBU · Form: 20-F · Filed: Mar 1, 2024 · CIK: 1654795

Sentiment: neutral

Topics: Brookfield Business Partners, BBU, 20-F, Annual Report, Financials

TL;DR

<b>Brookfield Business Partners L.P. has submitted its 2023 annual report on Form 20-F, detailing its financial performance and operations.</b>

AI Summary

Brookfield Business Partners L.P. (BBU) filed a Foreign Annual Report (20-F) with the SEC on March 1, 2024. Brookfield Business Partners L.P. filed its annual report on Form 20-F for the fiscal year ended December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal executive offices are located at 73 Front Street, 5th Floor, Hamilton, HM 12, Bermuda. Brookfield Business Partners L.P. is listed on the New York Stock Exchange (NYSE) under the ticker symbol BBU. The SIC code for the company is 1700, categorized under Construction Special Trade Contractors.

Why It Matters

For investors and stakeholders tracking Brookfield Business Partners L.P., this filing contains several important signals. The 20-F filing provides a comprehensive overview of Brookfield Business Partners L.P.'s financial health and strategic direction for the fiscal year 2023, which is crucial for investors to assess the company's performance and future prospects. This annual report is a key document for understanding the company's financial position, including its assets, liabilities, equity, and any changes therein, as well as its operational segments and risks.

Risk Assessment

Risk Level: — Brookfield Business Partners L.P. shows moderate risk based on this filing. The filing is a standard annual report (20-F) and does not contain immediate, significant negative news or disclosures that would indicate a high level of risk.

Analyst Insight

Investors should review the detailed financial statements and risk factors within the 20-F filing to make informed investment decisions regarding Brookfield Business Partners L.P.

Key Players & Entities

FAQ

When did Brookfield Business Partners L.P. file this 20-F?

Brookfield Business Partners L.P. filed this Foreign Annual Report (20-F) with the SEC on March 1, 2024.

What is a 20-F filing?

A 20-F is a annual report for foreign private issuers, equivalent to a 10-K but following international reporting standards. This particular 20-F was filed by Brookfield Business Partners L.P. (BBU).

Where can I read the original 20-F filing from Brookfield Business Partners L.P.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Brookfield Business Partners L.P..

What are the key takeaways from Brookfield Business Partners L.P.'s 20-F?

Brookfield Business Partners L.P. filed this 20-F on March 1, 2024. Key takeaways: Brookfield Business Partners L.P. filed its annual report on Form 20-F for the fiscal year ended December 31, 2023.. The filing covers the period from January 1, 2023, to December 31, 2023.. The company's principal executive offices are located at 73 Front Street, 5th Floor, Hamilton, HM 12, Bermuda..

Is Brookfield Business Partners L.P. a risky investment based on this filing?

Based on this 20-F, Brookfield Business Partners L.P. presents a moderate-risk profile. The filing is a standard annual report (20-F) and does not contain immediate, significant negative news or disclosures that would indicate a high level of risk.

What should investors do after reading Brookfield Business Partners L.P.'s 20-F?

Investors should review the detailed financial statements and risk factors within the 20-F filing to make informed investment decisions regarding Brookfield Business Partners L.P. The overall sentiment from this filing is neutral.

How does Brookfield Business Partners L.P. compare to its industry peers?

Brookfield Business Partners L.P. operates within the construction special trade contractors sector, as indicated by its SIC code.

Are there regulatory concerns for Brookfield Business Partners L.P.?

The company is filing a Form 20-F, which is an annual report required for foreign private issuers with the U.S. Securities and Exchange Commission (SEC).

Industry Context

Brookfield Business Partners L.P. operates within the construction special trade contractors sector, as indicated by its SIC code.

Regulatory Implications

The company is filing a Form 20-F, which is an annual report required for foreign private issuers with the U.S. Securities and Exchange Commission (SEC).

What Investors Should Do

  1. Review the full 20-F filing for detailed financial statements and management discussion.
  2. Analyze the company's operational segments and their performance in fiscal year 2023.
  3. Assess the identified risk factors and their potential impact on future operations.

Key Dates

Year-Over-Year Comparison

This filing represents the annual report for the fiscal year ended December 31, 2023, and provides updated financial and operational information compared to previous periods.

Filing Stats: 4,296 words · 17 min read · ~14 pages · Grade level 14.3 · Accepted 2024-03-01 16:30:25

Filing Documents

RISK FACTORS

RISK FACTORS 11 ITEM 4. INFORMATION ON THE COMPANY 56 4.A HISTORY AND DEVELOPMENT OF THE COMPANY 56 4.B BUSINESS OVERVIEW 58 4.C ORGANIZATIONAL STRUCTURE 68 4.D PROPERTY, PLANTS AND EQUIPMENT 71 ITEM 4A. UNRESOLVED STAFF COMMENTS 72 ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 73 5.A OPERATING RESULTS 73 5.B LIQUIDITY AND CAPITAL RESOURCES 96 5.C RESEARCH AND DEVELOPMENT, PATENTS AND LICENSES, ETC. 105 5.D TREND INFORMATION 105 5.E CRITICAL ACCOUNTING ESTIMATES 105 ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 106 6.A DIRECTORS AND SENIOR MANAGEMENT 106 6.B COMPENSATION 112 6.C BOARD PRACTICES 113 6.D EMPLOYEES 119 6.E SHARE OWNERSHIP 119 6.F DISCLOSURE OF A REGISTRANT'S ACTION TO RECOVER ERRONEOUSLY AWARDED COMPENSATION 121 ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 122 7.A MAJOR SHAREHOLDERS 122 7.B RELATED PARTY TRANSACTIONS 122 7.C INTERESTS OF EXPERTS AND COUNSEL 184 ITEM 8. FINANCIAL INFORMATION 184 8.A CONSOLIDATED STATEMENTS AND OTHER FINANCIAL INFORMATION 184 8.B SIGNIFICANT CHANGES 184 ITEM 9. THE OFFER AND LISTING 184 9.A OFFER AND LISTING DETAILS 184 9.B PLAN OF DISTRIBUTION 184 9.C MARKETS 184 9.D SELLING SHAREHOLDERS 184 9.E

DILUTION

DILUTION 184 Brookfield Business Partners i 9.F EXPENSES OF THE ISSUE 184 ITEM 10. ADDITIONAL INFORMATION 185 10.A SHARE CAPITAL 185 10.B MEMORANDUM AND ARTICLES OF ASSOCIATION 185 10.C MATERIAL CONTRACTS 203 10.D EXCHANGE CONTROLS 203 10.E TAXATION 203 10.F DIVIDENDS AND PAYING AGENTS 223 10.G 223 10.H DOCUMENTS ON DISPLAY 223 10.I SUBSIDIARY INFORMATION 223 10.J ANNUAL REPORT TO SECURITY HOLDERS 223 ITEM 11.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 223 ITEM 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 223 PART II 224 ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 224 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 224 ITEM 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 224 ITEM 16. RESERVED 224 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 225 ITEM 16B. CODE OF ETHICS 225 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 225 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 225 ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 226 ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 226 ITEM 16G. CORPORATE GOVERNANCE 226 ITEM 16H. MINE SAFETY DISCLOSURE 227 ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 227 ITEM 16J. INSIDER TRADING POLICIES 227 ITEM 16K. CYBERSECURITY 227 PART III 229 ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 229 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 229 ITEM 19. EXHIBITS 229

SIGNATURES

SIGNATURES 231 INDEX TO FINANCIAL STATEMENTS F- 1 ii Brookfield Business Partners INTRODUCTION AND USE OF CERTAIN TERMS We have prepared this Form 20-F using a number of conventions, which you should consider when reading the information contained herein. Unless otherwise indicated or the context otherwise requires, in this Form 20-F all financial information is presented in accordance with International Financial Reporting Standards, or IFRS, as issued by the International Accounting Standards Board, or IASB, other than certain non-IFRS financial measures which are defined under "Use of Non-IFRS Measures". In this Form 20-F, unless the context suggests otherwise, references to "we", "us", "our partnership", "the partnership" and "our group" are to our company, the Holding LP, the Holding Entities, and the operating businesses but excluding BBUC (each as defined below). In this Form 20-F, we use the following terms to refer to our operations: Business services: "our Australian residential mortgage lender" means our interest in La Trobe; "our construction operation" means our interest in Multiplex Global Limited; "our dealer software and technology services operation" means our interest in CDK Global; "our entertainment operation" means our interest in Ontario Gaming GTA Limited Partnership; "our fleet management and car rental services" means our interest in Unidas Locadora S.A.; "our healthcare services" means our interest in Healthscope; "our Indian non-bank financial services operation" means our interest in IndoStar Capital Finance Limited; "our payment processing services operation" means our interest in Magnati; "our real estate services operation" means our combined interest in Bridgemarq Real Estate Services Manager Limited and RPS Real Property Solutions Inc.; "our residential mortgage insurer" means our interest in Sagen MI Canada Inc.; "our road fuels operation" means our interest in Greenergy Fuels Holding Limited; "our rural bro

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