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FINANCE COSTS, NET (Tables) | 12 Months Ended
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Dec. 31, 2024
Finance costs [Abstract] |
Schedule of finance costs, net |
For the years ended December 31 | 2024 | 2023
Interest expense 1 | $452 |  | $387 |
Amortization of debt issue costs | 1 |  | 1 |
Amortization of premium | (1) |  | — |
Interest on lease liabilities | 4 |  | 5 |
Loss on interest rate hedges | 1 |  | 1 |
Interest capitalized 2 | (33) |  | (42) |
Accretion | 89 |  | 87 |
Finance income | (281) |  | (269) |
Total | $232 |  | $170 |
1 Interest in the consolidated statements of cash flow is presented on a cash basis. In 2024, cash interest paid was $380 million (2023: $300 million). 2For the year ended December 31, 2024, the general capitalization rate was 6.40% (2023: 6.60%).

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