Examine Note 28 to Brookfield’s financial statements and answer the following questions on segment disclosure:

a. Identify the business segments in which Brookfield operates. Which segment has the most revenues? Which has the most assets? Which has the most income?

b. Identify the geographic segments that Brookfield reports in Note 28. Which segment has the most revenues? Which has the most assets? Why do you think segment income information isn’t provided for the geographic segments?

c. Is the segmented information provided only for the entities that are consolidated into Brookfield’s consolidated financial statements? Explain.

d. Why is segment disclosure required under IFRS? As a user of Brookfield’s annual report, how would your ability to use the financial statements be impaired by not having the segmented information?

e. What are the limitations of Brookfield’s segment disclosure?

Brookfield Asset Management Inc. (Brookfield) is a global asset management company focused on property, power, and other infrastructure assets. The company has approximately $80 billion under management. Brookfield owns and manages one of the largest portfolios of premier office properties and hydroelectric power generation facilities as well as transmission and timberland operations, located in North and South America and Europe. The company is listed on the New York and Toronto stock exchanges. Brookfield's consolidated balance sheets, statements of income and comprehensive income, and extracts from the statements of cash flows, notes to the financial statements, and annual information form are provided in Exhibit 11.4. 

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EXHIBIT 11.4 Brookfield Asset Management Corp.: Financial Statement Extracts SUBSIDIARIES The following is a list of the Corporation's main active subsidiaries, indicating the jurisdiction of incorporation and the percentage of voting securities owned, or over which control or direction is exercised directly or indirectly, by the Corporation: Name Jurisdiction of Incorporation Percentage of Voting Securities Owned, Controlled or Directed Property Operations Norbord Inc. Brookfield Homes Corporation Brookfield Properties Corporation BPO Properties Limited Power Generating Operations Brookfield Renewable Power Inc. Other Great Lakes Hydro Income Fund Brascan Brasil, S.A. Brookfield Investments Corporation Fraser Papers Inc. Delaware 58.2 Canada 51.4 Canada 89.7 Ontario 100.0 Quebec 50.0 Brazil 100.0 Ontario 100.0 Ontario 60.3 Ontario 75.3 (a) The Corporation's direct and indirect ownership in Norbord Inc. increased to 75% in January 2009.