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Finance expense and income (Tables)

12 Months Ended

Dec. 31, 2024

Summary of Finance Expense and Income Included in Income Statement

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



	2024						2023						2022 1

Million US dollar	Finance expense		Finance income		Net		Finance expense		Finance income		Net		Finance expense		Finance income		Net

Interest income/(expense)		(3 437)		591		(2 846)		(3 696)		565		(3 131)		(3 588)		294		(3 294)
Net interest on net defined benefit liabilities		(89)		-		(89)		(90)		-		(90)		(73)		-		(73)
Accretion expense		(722)		-		(722)		(808)		-		(808)		(782)		-		(782)
Net interest income on Brazilian tax credits		-		142		142		-		168		168		-		168		168
Other financial results		(852)		8		(843)		(1 214)		42		(1 172)		(1 349)		352		(997)
Finance income/(expense) excluding exceptional items		(5 100)		742		(4 358)		(5 808)		775		(5 033)		(5 792)		814		(4 978)
Exceptional finance income/(expense)		(1 277)		282		(995)		(325)		256		(69)		(22)		851		829
Finance income/(expense)		(6 376)		1 024		(5 353)		(6 133)		1 031		(5 102)		(5 814)		1 665		(4 148)

As from 1 January 2023, mark-to-market gains/(losses) on derivatives related to the hedging of the share-based payment programs are reported in the exceptional net finance income/(expense). The 2022 presentation

was

amended to conform to the 2023 and 2024 presentation.

Summary of Other Financial

Other financial results include:



	2024						2023						2022 1

Million US dollar	Finance expense		Finance income		Net		Finance expense		Finance income		Net		Finance expense		Finance income		Net




Net foreign exchange gains/(losses)		(147)		-		(147)		(353)		-		(353)		(363)		-		(363)
Net gains/(losses) on hedging instruments		(312)		-		(312)		(613)		-		(613)		(747)		-		(747)
Hyperinflation monetary adjustments		(78)		-		(78)		-		17		17		-		286		286
Other financial income/(expense), including bank fees and taxes		(315)		8		(306)		(248)		25		(223)		(239)		66		(173)
Other financial results		(852)		8		(843)		(1 214)		42		(1 172)		(1 349)		352		(997)

Summary of Interest Income

The interest income stems from the following financial assets:



Million US dollar	2024		2023		2022

Cash and cash equivalents		559		537		235
Investments in debt securities held for trading		23		10		39
Other loans and receivables		9		19		21
Total		591		565		294