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Finance cost and income (Tables)

12 Months Ended

Dec. 31, 2023

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Summary of Finance Cost and Income Included in Income Statement

The finance cost and income included in the income statement are as follows:



		2023																2022¹																2021¹

Million US dollar		Finance cost				Finance income				Net								Finance cost				Finance income				Net								Finance cost				Finance income				Net

Interest income/(expense)			(3 696)				565				(3 131)								(3 588)				294				(3 294)								(3 674)				113				(3 560)
Net interest on net defined benefit liabilities			(90)				-				(90)								(73)				-				(73)								(73)				-				(73)
Accretion expense			(808)				-				(808)								(782)				-				(782)								(593)				-				(593)
Net interest income on Brazilian tax credits			-				168				168								-				168				168								-				118				118
Other financial results			(1 214)				42				(1 172)								(1 349)				352				(997)								(871)				200				(671)
Finance income/(cost) excluding exceptional items			(5 808)				775				(5 033)								(5 792)				814				(4 978)								(5 211)				431				(4 780)
Exceptional finance income/(cost)			(325)				256				(69)								(22)				851				829								(829)				-				(829)
Finance income/(cost)			(6 133)				1 031				(5 102)								(5 814)				1 665				(4 148)								(6 040)				431				(5 609)

Summary of Other Financial

Other financial results include:



		2023																2022																2021

Million US dollar		Finance cost				Finance income				Net								Finance cost				Finance income				Net								Finance cost				Finance income				Net

Net foreign exchange gains/(losses)			(353)				-				(353)								(363)				-				(363)								(101)				-				(101)
Net gains/(losses) on hedging instruments			(613)				-				(613)								(747)				-				(747)								(562)				-				(562)
Hyperinflation monetary adjustments			-				17				17								-				286				286								-				152				152
Other financial income/(cost), including bank fees and taxes			(248)				25				(223)								(239)				66				(173)								(208)				48				(160)
Other financial results			(1 214)				42				(1 172)								(1 349)				352				(997)								(871)				200				(671)

Summary of Interest Income

The interest income stems from the following financial assets:



Million US dollar		2023				2022				2021

Cash and cash equivalents			537				235				85
Investments in debt securities held for trading			10				39				16
Other loans and receivables			19				21				12
Total			565				294				113