FORM 20-F/A Brookfield Property Partners L.P. - Brookfield Asset ...

NOTE 19: RELATED PARTIESIn the normal course of operations, the company enters into various transactions on market terms with relatedparties, which have been measured at exchange value and are recognized in the financial statements. Thefollowing table summarizes transactions with related parties:(US$ Millions) Three months ended Mar. 31, 2012 2011Lease revenue $ 1 $ 1Interest income 13 18Management fees paid 5 9Balances outstanding as at Mar. 31, 2012 Dec. 31, 2011BRPI promissory notes (1) $ 481 $ 470Loans receivable designated as FVTPL (2) 143 138Loans and notes receivable (3) 382 452Other current receivables 8 57Capitalized interest paid to Brookfield 5 40Property debt payable 30 79Other liabilities 30 22(1) Included in notes receivable is $481 million (2011 - $470 million) related to unsecured promissory notes of C$480 million receivable fromBrookfield Residential Properties Inc. (“BRPI”), a subsidiary of the parent company. Under the terms of a put agreement, the Business hasthe right to put up to $365 million of the promissory notes, at various dates beginning December 31, 2012, to Brookfield for cash proceedsequal to the outstanding principal amount.(2) Includes a senior unsecured note receivable from a subsidiary of Brookfield that matures on December 19, 2014. The principal and interestpayments on the note receivable are based on the returns of a reference debenture which is, in turn, secured by an equity interest in apublicly traded real estate entity based in Australia. The debenture was not repaid on its scheduled maturity date and a default notice wasissued to the borrower demanding full repayment.(3) Includes $147 million receivable from Brookfield upon the earlier of the company’s exercise of its option to convert its participating loaninterests into direct ownership of the Australian portfolio or the maturity of the participating loan notes. Also included is a $200 millionloan receivable related to Brookfield’s ownership of Brookfield Office Properties’ Class AAA Series E capital securities earning a rate of108% of bank prime.NOTE 20: SEGMENTED INFORMATIONThe Business’ four operating segments are office, retail, multi-family and industrial, and opportunisticinvestments, located in the United States, Canada, Australia, Brazil and Europe.The following summary presents segmented financial information for the company’s principal geographic areasof business:(US$ Millions) Total assets Total liabilities Equity attributable to parentMar. 31, 2012 Dec. 31, 2011 Mar. 31, 2012 Dec. 31, 2011 Mar. 31, 2012 Dec. 31, 2011OfficeUnited States (1) $ 15,714 $ 15,741 $ 7,490 $ 7,710 $ 7,588 $ 7,395Canada (2) 4,903 4,718 2,295 2,247 2,149 2,044Australia (3) 5,187 5,186 2,457 2,681 2,533 2,315Europe 1,473 1,515 479 557 994 958Developments 1,817 1,713 799 738 589 560Unallocated (4) - - 1,452 1,375 (6,985) (6,735)29,094 28,873 14,972 15,308 6,868 6,537RetailUnited States 4,866 4,282 182 51 4,272 3,938Australia 380 407 170 185 210 200Brazil 2,337 2,430 1,055 1,186 321 3117,583 7,119 1,407 1,422 4,803 4,449Multi-Family andIndustrial (5) 1,215 1,112 753 584 139 157OpportunisticInvestments (6) 3,157 3,213 1,318 1,509 765 738$ 41,049 $ 40,317 $ 18,450 $ 18,823 $ 12,575 $ 11,8811. Equity attributable to parent is net of non-controlling interests of $636 million (2011 - $636 million).2. Equity attributable to parent is net of non-controlling interests of $459 million (2011 - $427 million).3. Equity attributable to parent is net of non-controlling interests of $197 million (2011 - $190 million).4. Unallocated liabilities include corporate debt and capital securities. Equity attributable to parent includes non-controlling interests.5. Operations primarily in North America.6. Operations primarily in North America with interests in Europe, Australia, and Brazil.F-58