Financial Reporting and Compliance - The financial information is presented in United States dollars and prepared in accordance with IFRS, with all figures being unaudited unless otherwise indicated[14]. - The company is exempt from certain U.S. securities regulations as a foreign private issuer, resulting in potentially less publicly available information compared to U.S. domestic registrants[36][37]. - Effective internal controls are crucial, as failures could lead to material weaknesses in financial reporting and affect investor confidence[44][45]. - The accuracy of management's assumptions and estimates is critical, as significant deviations could materially affect financial results[165]. Forward-Looking Statements and Risks - The company emphasizes that historical performance and market data may not be indicative of future results[13]. - Forward-looking statements include expectations regarding operations, financial condition, and anticipated benefits from acquisitions, with terms like "expects" and "anticipates" used to describe these projections[15]. - Risks include general economic conditions, competition, operational risks, and changes in government regulation, which may impact future performance[16]. - The company acknowledges the potential impact of international conflicts, such as Russia's invasion of Ukraine, on its operations[17]. - The ongoing conflict in Ukraine has created significant uncertainty in the global financial system, impacting costs and operations, although direct exposure remains limited[169]. Operational Risks and Market Conditions - The company faces risks related to its healthcare services operations, including reliance on private health insurance funds and relationships with medical practitioners[26]. - The healthcare services operations are facing rising labor costs, particularly in nursing, which is the most significant cost in hospital operations[77]. - The construction operations are highly dependent on the award of new contracts, which are unpredictable and can fluctuate quarterly and annually[83]. - The profitability of construction operations is closely tied to macroeconomic factors, including the impacts of the COVID-19 pandemic and rising inflation[91]. - Climate change may disrupt construction operations due to extreme weather events, impacting the availability and cost of raw materials[92]. - The company is vulnerable to business disruptions from various sources, which could materially affect financial condition and operational results[189]. Financial Structure and Shareholder Relations - The company is dependent on Brookfield for acquisition opportunities and management, which may create conflicts of interest[28]. - Brookfield holds approximately 64.8% of the exchangeable shares, providing it with significant control over the company[125]. - The company may redeem exchangeable shares at any time without the consent of holders, which could occur under specific circumstances[46]. - The company has guaranteed Brookfield Business Partners' obligations under a $2.3 billion bilateral credit facility and a $1 billion revolving acquisition credit facility, exposing it to credit risk[140]. - The arrangements with Brookfield may contain terms less favorable than those that could have been negotiated with unrelated parties[130]. Market and Economic Factors - Rising inflation rates in 2022 have exceeded target ranges, driven by increased costs in labor, energy, and supply chain disruptions, potentially affecting operational performance[181]. - Economic conditions, including interest rate fluctuations, could adversely impact the company's ability to obtain financing and affect overall financial health[175][179]. - Foreign currency risks are present due to operations in countries with currencies other than the U.S. dollar, which may impact cash flows and service costs[191]. - Political instability in key markets could create economic uncertainty, negatively impacting financial performance and operational relationships[184]. Environmental and Regulatory Challenges - The company is subject to increasingly stringent environmental legislation, which may result in higher operational costs and affect growth prospects[207]. - Climate change-related regulations may increase the company's regulatory compliance burden and impact its financial performance[210]. - Environmental damage risks and compliance costs with environmental laws could materially impact the company's financial performance[205]. Acquisition Strategy and Competition - The group operates in a highly competitive market for acquisition opportunities, facing competition from larger investment funds and companies[162]. - The group's acquisition strategy may involve acquiring distressed companies, which carries substantial financial and business risks[160]. - The company may face challenges in sourcing suitable investment opportunities due to inflationary pressures and economic conditions[181]. Insurance and Liability Risks - The company maintains insurance coverage for healthcare services operations, but future availability and adequacy of coverage are uncertain[78]. - The company faces challenges in obtaining necessary insurance, which could increase overall risk exposure and operational expenses[194]. - Labor disruptions and unfavorable collective bargaining agreements could significantly disrupt operations and increase labor costs[195].

Financial Performance - Total assets as of September 30, 2022, amounted to $26.6 billion, with revenues of $7.5 billion for the nine months ended September 30, 2022[172]. - For the three months ended September 30, 2022, revenues increased by $565 million to $2,905 million, compared to $2,340 million for the same period in 2021[186]. - For the nine months ended September 30, 2022, revenues increased by $313 million to $7,474 million, compared to $7,161 million for the same period in 2021[187]. - Net income for the three months ended September 30, 2022, was $31 million, compared to a net loss of $21 million for the same period in 2021[185]. - Net income for the nine months ended September 30, 2022, was $918 million, compared to a net loss of $28 million for the same period in 2021[185]. - Adjusted EBITDA for the three months ended September 30, 2022, was $627 million, compared to $443 million in the same period of 2021[222]. Revenue Breakdown - The business services segment generated revenues of $4.3 billion, while infrastructure services and industrials contributed $2.6 billion and $644 million, respectively[173]. - The nuclear technology services operations generated revenues primarily from recurring refueling and maintenance services, with a significant focus on the global nuclear power generation industry[179]. - The healthcare services operations include 39 hospitals, primarily generating revenues from private health insurance funds and government-related bodies[175]. - The construction operations focus on large-scale projects, with revenues recognized based on the stage of completion of contracts[177]. Assets and Liabilities - Total assets as of September 30, 2022, were $16,719 million, up from $7,122 million as of December 31, 2021[210]. - Total liabilities increased to $12,559 million as of September 30, 2022, compared to $5,177 million as of December 31, 2021[210]. - Intangible assets increased by $5,040 million to $9,266 million as at September 30, 2022, compared to $4,226 million as at December 31, 2021[200]. - Goodwill increased by $4,590 million to $6,806 million as at September 30, 2022, compared to $2,216 million as at December 31, 2021[202]. - Financial assets increased by $262 million to $611 million as at September 30, 2022, compared to $349 million as at December 31, 2021[196]. - Accounts receivable and other, net increased by $335 million to $2,616 million as at September 30, 2022, compared to $2,281 million as at December 31, 2021[198]. Cash Flow and Financing - Total cash flow provided by operating activities for the nine months ended September 30, 2022 was $60 million, a decrease of 86% compared to $436 million for the same period in 2021[235]. - Total cash flow provided by financing activities for the nine months ended September 30, 2022 was $9,000 million, compared to cash flow used in financing activities of $27 million for the same period in 2021[236]. - Total cash flow used in investing activities was $9,015 million for the nine months ended September 30, 2022, significantly higher than $327 million for the same period in 2021[237]. - Cash and cash equivalents as of September 30, 2022, were $883 million, slightly down from $894 million as of December 31, 2021[233]. Acquisitions and Investments - The company completed the acquisition of CDK Global Inc. for a total consideration of $8.3 billion, funded with debt and equity, expecting a 20% economic interest[178]. - In May 2022, the company acquired BHI Energy, creating a fully integrated outage, maintenance, and modification services business in the nuclear industry[180]. - An agreement was made to sell the nuclear technology services operations for an enterprise value of approximately $8 billion, expected to close in the second half of 2023[180]. - The company reported capital contributions from non-controlling interests of $1,989 million, primarily for the acquisition of global dealer software and technology services operations[236]. - The company’s acquisitions in 2022 included a global dealer software and technology services operation, impacting both cash flow and operational capabilities[237]. Operational Strategy - The company aims to enhance cash flows and pursue new acquisitions through an operations-oriented approach[171]. - The cash flow from operating activities was primarily driven by nuclear technology services and construction operations, offset by changes in non-cash working capital and transaction costs related to acquisitions[235]. - The company executed agreements for indemnification and guarantees to third parties, but historically has made no significant payments under such agreements[240]. Equity and Dividends - Total equity attributable to Brookfield Business Partners increased to $4,160 million as of September 30, 2022, from $1,945 million as of December 31, 2021[210]. - The company declared a quarterly dividend of $0.0625 per exchangeable share, payable on December 30, 2022[232].