Financial Reporting Standards - Brookfield Corporation's financial information is presented in U.S. dollars and prepared in accordance with U.S. GAAP[31]. - Financial information is presented in U.S. dollars and prepared in accordance with U.S. GAAP, with all figures being unaudited unless otherwise indicated[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]. Key Financial Metrics - Distributable Operating Earnings (DOE) is a key measure of financial performance, defined as net income after applicable taxes excluding certain costs and adjustments[33]. - Distributable Operating Earnings (DOE) is a key measure of financial performance, defined as net income after applicable taxes excluding certain impacts[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]. Non-GAAP Measures - The company emphasizes the importance of non-GAAP measures for assessing overall business performance, including adjusted equity and total liquidity[32]. - The company emphasizes the importance of non-GAAP measures for assessing overall business performance, which should not be considered in isolation from U.S. GAAP measures[32]. Forward-Looking Statements - Forward-looking statements reflect management's estimates and beliefs regarding future financial results and market conditions[25]. - 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 was completed for approximately 30 per share on November 16, 2023[1]. Risk Factors - The report includes risk factors that could adversely affect future results, urging readers to consider these uncertainties[27]. - Historical performance and market data may not be indicative of future results, emphasizing the need for cautious interpretation[30]. Support Agreements - The company has a support agreement with Brookfield Corporation, which was amended and restated on March 21, 2023, and October 29, 2024[22].
Brookfield Reinsurance .(BNRE) - 2024 Q4 - Annual Report