Brookfield Business Corp Files 20-F Annual Report for Fiscal Year 2023

Ticker: BBUC · Form: 20-F · Filed: Mar 1, 2024 · CIK: 1871130

Sentiment: neutral

Topics: Brookfield Business Corp, 20-F Filing, Annual Report, Financials, SEC Filing

TL;DR

<b>Brookfield Business Corp has submitted its 2023 annual report (20-F), detailing financial performance and corporate information.</b>

AI Summary

Brookfield Business Corp (BBUC) filed a Foreign Annual Report (20-F) with the SEC on March 1, 2024. Brookfield Business Corp filed its 20-F annual report for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal business address is 250 Vesey Street, 15th Floor, New York, NY 10281. Brookfield Business Corp is incorporated in A1 and operates within the Construction Special Trade Contractors SIC code. The report includes financial data for the fiscal years 2023, 2022, and 2021.

Why It Matters

For investors and stakeholders tracking Brookfield Business Corp, this filing contains several important signals. This filing provides a comprehensive overview of Brookfield Business Corp's financial health and operational status for the fiscal year 2023, crucial for investors assessing the company's performance and future prospects. The 20-F report is a mandatory filing for foreign private issuers like Brookfield Business Corp, offering detailed financial statements and business information required by the SEC for public disclosure.

Risk Assessment

Risk Level: medium — Brookfield Business Corp shows moderate risk based on this filing. The company operates in the construction sector, which can be subject to economic downturns and project-specific risks, as indicated by its SIC code and the nature of its business.

Analyst Insight

Investors should review the detailed financial statements and risk factors within the 20-F to understand Brookfield Business Corp's performance and potential challenges.

Key Numbers

Key Players & Entities

FAQ

When did Brookfield Business Corp file this 20-F?

Brookfield Business Corp 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 Corp (BBUC).

Where can I read the original 20-F filing from Brookfield Business Corp?

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 Corp.

What are the key takeaways from Brookfield Business Corp's 20-F?

Brookfield Business Corp filed this 20-F on March 1, 2024. Key takeaways: Brookfield Business Corp filed its 20-F annual report for the fiscal year ending December 31, 2023.. The filing covers the period from January 1, 2023, to December 31, 2023.. The company's principal business address is 250 Vesey Street, 15th Floor, New York, NY 10281..

Is Brookfield Business Corp a risky investment based on this filing?

Based on this 20-F, Brookfield Business Corp presents a moderate-risk profile. The company operates in the construction sector, which can be subject to economic downturns and project-specific risks, as indicated by its SIC code and the nature of its business.

What should investors do after reading Brookfield Business Corp's 20-F?

Investors should review the detailed financial statements and risk factors within the 20-F to understand Brookfield Business Corp's performance and potential challenges. The overall sentiment from this filing is neutral.

Risk Factors

Key Dates

Filing Stats: 4,309 words · 17 min read · ~14 pages · Grade level 13.7 · Accepted 2024-03-01 16:38:36

Filing Documents

RISK FACTORS

RISK FACTORS 8 ITEM 4. INFORMATION ON THE COMPANY 38 4.A. HISTORY AND DEVELOPMENT OF THE COMPANY 38 4.B. BUSINESS OVERVIEW 39 4.C. ORGANIZATIONAL STRUCTURE 44 4.D. PROPERTY, PLANTS AND EQUIPMENT 46 ITEM 4A. UNRESOLVED STAFF COMMENTS 46 ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 46 5.A. OPERATING RESULTS 46 5.B. LIQUIDITY AND CAPITAL RESOURCES 54 5.C. RESEARCH AND DEVELOPMENT, PATENTS AND LICENSES, ETC. 63 5.D. TREND INFORMATION 63 5.E. CRITICAL ACCOUNTING ESTIMATES 63 ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 64 6.A. DIRECTORS AND SENIOR MANAGEMENT 64 6.B. COMPENSATION 67 6.C. BOARD PRACTICES 68 6.D. EMPLOYEES 74 6.E. SHARE OWNERSHIP 75 6.F. DISCLOSURE OF A REGISTRANT'S ACTION TO RECOVER ERRONEOUSLY AWARDED COMPENSATION 75 ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 75 7.A. MAJOR SHAREHOLDERS 75 7.B. RELATED PARTY TRANSACTIONS 76 7.C. INTERESTS OF EXPERTS AND COUNSEL 138 ITEM 8. FINANCIAL INFORMATION 138 8.A. CONSOLIDATED STATEMENTS AND OTHER FINANCIAL INFORMATION 139 8.B. SIGNIFICANT CHANGES 139 ITEM 9. THE OFFER AND LISTING 139 9.A. OFFER AND LISTING DETAILS 139 9.B. PLAN OF DISTRIBUTION 139 9.C. MARKETS 139 9.D. SELLING SHAREHOLDERS 139 9.E.

DILUTION

DILUTION 139 9.F. EXPENSES OF THE ISSUE 139 Brookfield Business Corporation i ITEM 10. ADDITIONAL INFORMATION 139 10.A. SHARE CAPITAL 139 10.B. MEMORANDUM AND ARTICLES OF ASSOCIATION 139 10.C. MATERIAL CONTRACTS 158 10.D. EXCHANGE CONTROLS 158 10.E. TAXATION 158 10.F. DIVIDENDS AND PAYING AGENTS 169 10.G. 169 10.H. DOCUMENTS ON DISPLAY 169 10.I. SUBSIDIARY INFORMATION 169 10.J. ANNUAL REPORT TO SECURITY HOLDERS ITEM 11.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 169 ITEM 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 169 PART II 170 ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 170 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 170 ITEM 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 170 ITEM 16. RESERVED 170 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 171 ITEM 16B. CODE OF ETHICS 171 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 171 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 171 ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 172 ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 172 ITEM 16G. CORPORATE GOVERNANCE 172 ITEM 16H. MIN E SAFETY DISCLOSURE 172 ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 172 ITEM 16J. INSIDER TRADING POLICIES 172 ITEM 16K. CYBERSECURITY 172 PART III 174 ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 174 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 174 ITEM 19. EXHIBITS 174

SIGNATURES

SIGNATURES 176 INDEX TO FINANCIAL STATEMENTS F- 1 ii Brookfield Business Corporation 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. In this Form 20-F, unless the context suggests otherwise, references to "we", "us", "our" and "our company" mean Brookfield Business Corporation together with all of its subsidiaries. References to "Brookfield Business Partners" means the partnership collectively with Holding LP, the Holding Entities and the operating businesses (but excluding our company). References to "our group" mean, collectively, our company and Brookfield Business Partners. In this Form 20-F, we use the following terms to refer to our operations, which is also the same manner in which the partnership refers to these operations: "our construction operation" means our interest in Multiplex; "our dealer software and technology services operation" means our interest in CDK Global; "our healthcare services" means our interest in Healthscope; and "our water and wastewater operation" means our interest in BRK Ambiental. Unless the context suggests otherwise, in this Form 20-F references to: "articles" means the notice of articles and articles of our company; "Asset Management Company" means Brookfield Asset Management ULC, which is approximately 75% owned by Brookfield Corporation and approximately 25% owned by Brookfield Asset Management; "assets under management" means assets managed by us or by Brookfield on behalf of our third-party investors, as well as our own assets, and also include capital commitments that have not yet been drawn. Our calculation of assets under

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