The following table disaggregates segment FFO and segment equity into the amounts attributable to our operations by region  and realized disposition gains to facilitate analysis: Home closings and housing gross margins increased in both our Canadian and U.S. operations when compared to the prior year.  We delivered 2,216 homes and 2,402 lots during the year, compared to 1,808 and 2,142, respectively, in 2012, representing a year- over-year increase of 23% and 12%, respectively. The gross margin on our Canadian housing operations was 20.8% compared to  18.9% in 2012 reflecting a slight change in mix between the projects being delivered and between home and lot sales. Our Brazilian operations experienced lower levels of sales and project launches during 2013, reflecting decreased levels of growth  in our principal development areas following several years of expansion and consistent with the experience of other developers.  We experienced margin pressure from cost increases, and project overruns; however, we remain focused on increasing launches  and sales in the near term. The 2013 results for Australia are consistent with the prior year and we continue to wind down these businesses. We believe our North American activities will continue to benefit from the continuing recovery of the U.S. housing industry  which should favourably impact our future prices and volumes. In addition, our residential development business benefits from  our strong market share within the energy-focused Alberta market. Net new home orders increased 15% to 2,356 units in 2013 as  a result of stable market performance in Canada and the recovery in the U.S., which increased the units and value of our backlog  units by 10% and 23% respectively, over the prior year, with much of the increase occurring within our U.S. operations. At the  end of 2013, the North American backlog of homes sold but not delivered was 915, with a sales value of $448 million, compared  to 834 homes with a value of $365 million at the same time last year. Brazil is currently experiencing lower growth, which is having a negative impact on current returns. We are confident that the  country’s favourable demographics when combined with supportive government policies will contribute to increased sales and  FFO. We have focused our operations on major markets, and have established a “top-three” presence in the core markets that  represent over 60% of the country’s GDP, which positions us to continue to participate in this growth. In February 2014, we  launched a tender offer for the shares of BISA that we do not own at a price of R$1.60 per share or approximately US$180 million  in total based on recent exchange rates. The following table disaggregates segment FFO and segment equity into the amounts attributable to our construction services  and property services businesses and realized disposition gains to facilitate analysis: 48 BROOKFIELD ASSET MANAGEMENT  SERVICE ACTIVITIES Outlook and Growth Initiatives AS AT AND FOR THE YEARS ENDED DECEMBER 31  (MILLIONS) Funds from Operations Common Equity  by Segment 2013 2012 2013 2012 Residential North America (BRPI)  $ 117 $ 64 $ 960 $ 913 Brazil (BISA)  (61) (36) 421 482 Australia and other  (10) (10) 54 222 Realized disposition gains  — 16 — — $ 46 $ 34 $ 1,435 $ 1,617 AS AT AND FOR THE YEARS ENDED DECEMBER 31  (MILLIONS) Funds from Operations Common Equity  by Segment 2013 2012 2013 2012 Service activities Construction $ 118 $ 113 $ 938 $ 1,029 Property  39 46 348 296 Realized disposition gain  — 70 — — $ 157 $ 229 $ 1,286 $ 1,325 Construction revenues increased relative to 2012 as we were managing a larger volume of projects during the year. Operating  margins decreased to 7.5% from 8.2% in 2012 as we are experiencing increased bidding competition in the current year, and we  completed several higher margin, large projects in the prior year. Our North American operations demonstrated strong growth reflecting the recovery in U.S. housing markets and continued  strength in Canada. Funds from operations increased from $64 million to $117 million due largely to an increase in gross margin  of $82 million (+28%), offset in part by associated income taxes. Funds from operations in 2012 includes a $16 million realized  disposition gain recognized on partial sell-downs of our interest in BRPI.