- Definition

The amount of liabilities that are: (a) a contractual obligation: (i) to deliver cash or another financial asset to another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavourable to the entity; or (b) a contract that will, or may be, settled in the entity’s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to deliver a variable number of the entity’s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity’s own equity instruments. For this purpose, rights, options or warrants to acquire a fixed number of the entity’s own equity instruments for a fixed amount of any currency are equity instruments if the entity offers the rights, options or warrants pro rata to all of its existing owners of the same class of its own non-derivative equity instruments. Also, for those purposes the entity’s own equity instruments do not include puttable financial instruments that are classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity’s own equity instruments. As an exception, an instrument that meets the definition of a financial liability is classified as an equity instrument if it has all the features and meets the conditions in paragraphs 16A-16B or paragraphs 16C-16D of IAS 32. [Refer: Classes of financial instruments [domain]; Financial assets; Derivatives [member]]

+ References + Details

Investments in subsidiary undertakings, joint ventures and associates - Financial position (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of financial position:
Total assets	$ 181,876	$ 174,066
Shareholders' equity	17,492	17,823
The above amounts of assets and liabilities include the following:
Cash and cash equivalents	5,772	4,751	$ 5,514	$ 7,170
Financial liabilities (excluding trade and other payables and provisions)	11,269	13,105
Mainland China joint venture
Statement of financial position:
Total assets	36,344	33,271
Liabilities (including non-controlling interest)	34,452	32,005
Shareholders' equity	1,892	1,266
The above amounts of assets and liabilities include the following:
Cash and cash equivalents	1,374	868
Financial liabilities (excluding trade and other payables and provisions)	$ 1,835	$ 1,198