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v3.22.4

Leases (Tables) | 12 Months Ended
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Dec. 31, 2022
Presentation of leases for lessee [abstract] |
Disclosure of quantitative information about right-of-use assets | Right-of-use assets
|  |  |  |  | Land and buildings $m |  |  | Investment property $m |  |  | Other $m |  |  | Total $m |
Cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
At 1 January 2021 |  |  |  |  |  |  | 617 |  |  |  | – |  |  |  | 4 |  |  |  | 621 |
Additions and other re-measurements |  |  |  |  |  |  | 4 |  |  |  | – |  |  |  | – |  |  |  | 4 |
Terminations and disposals |  |  |  |  |  |  | (9 | ) |  |  | – |  |  |  | (1 | ) |  |  | (10 | )
Exchange and other adjustments |  |  |  |  |  |  | (5 | ) |  |  | – |  |  |  | – |  |  |  | (5 | )
At 31 December 2021 |  |  |  |  |  |  | 607 |  |  |  | – |  |  |  | 3 |  |  |  | 610 |
Additions and other re-measurements |  |  |  |  |  |  | 40 |  |  |  | – |  |  |  | – |  |  |  | 40 |
Transfers to investment property |  |  |  |  |  |  | (50 | ) |  |  | 50 |  |  |  | – |  |  |  | – |
Transfers to finance lease receivable |  |  |  |  |  |  | (5 | ) |  |  | – |  |  |  | – |  |  |  | (5 | )
Terminations |  |  |  |  |  |  | (9 | ) |  |  | – |  |  |  | (1 | ) |  |  | (10 | )
Exchange and other adjustments |  |  |  |  |  |  | (12 | ) |  |  | – |  |  |  | – |  |  |  | (12 | )
At 31 December 2022 |  |  |  |  |  |  | 571 |  |  |  | 50 |  |  |  | 2 |  |  |  | 623 |
Depreciation and impairment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
At 1 January 2021 |  |  |  |  |  |  | (316 | ) |  |  | – |  |  |  | (2 | ) |  |  | (318 | )
Provided |  |  |  |  |  |  | (26 | ) |  |  | – |  |  |  | (1 | ) |  |  | (27 | )
System Fund expense |  |  |  |  |  |  | (3 | ) |  |  | – |  |  |  | – |  |  |  | (3 | )
System Fund impairment reversal |  |  |  |  |  |  | 3 |  |  |  | – |  |  |  | – |  |  |  | 3 |
Terminations and disposals |  |  |  |  |  |  | 5 |  |  |  | – |  |  |  | 1 |  |  |  | 6 |
Exchange and other adjustments |  |  |  |  |  |  | 3 |  |  |  | – |  |  |  | – |  |  |  | 3 |
At 31 December 2021 |  |  |  |  |  |  | (334 | ) |  |  | – |  |  |  | (2 | ) |  |  | (336 | )
Provided |  |  |  |  |  |  | (24 | ) |  |  | – |  |  |  | (1 | ) |  |  | (25 | )
System Fund expense |  |  |  |  |  |  | (3 | ) |  |  | – |  |  |  | – |  |  |  | (3 | )
Impairment charge |  |  |  |  |  |  | (2 | ) |  |  | – |  |  |  | – |  |  |  | (2 | )
Impairment reversal |  |  |  |  |  |  | 2 |  |  |  | – |  |  |  | – |  |  |  | 2 |
Transfers to investment property |  |  |  |  |  |  | 47 |  |  |  | (47 | ) |  |  | – |  |  |  | – |
Transfers to finance lease receivable |  |  |  |  |  |  | 3 |  |  |  | – |  |  |  | – |  |  |  | 3 |
Terminations |  |  |  |  |  |  | 9 |  |  |  | – |  |  |  | 1 |  |  |  | 10 |
Exchange and other adjustments |  |  |  |  |  |  | 8 |  |  |  | – |  |  |  | – |  |  |  | 8 |
At 31 December 2022 |  |  |  |  |  |  | (294 | ) |  |  | (47 | ) |  |  | (2 | ) |  |  | (343 | )
Net book value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
At 31 December 2022 |  |  |  |  |  |  | 277 |  |  |  | 3 |  |  |  | – |  |  |  | 280 |
At 31 December 2021 |  |  |  |  |  |  | 273 |  |  |  | – |  |  |  | 1 |  |  |  | 274 |
At 1 January 2021 |  |  |  |  |  |  | 301 |  |  |  | – |  |  |  | 2 |  |  |  | 303 |
Disclosure Of Lease Liabilities | The majority of the Group’s lease liabilities are discounted at incremental borrowing rates of up to 11%. The rate implicit in the InterContinental Boston lease was 9.7% and was derived from a valuation of the hotel at lease inception in 2006.
Currency |  |  |  |  | 2022 $m |  |  |  |  |  | 2021 $m |
US dollars |  |  |  |  |  |  | 363 |  |  |  |  |  |  |  | 374 |
Sterling |  |  |  |  |  |  | 31 |  |  |  |  |  |  |  | 6 |
Euros |  |  |  |  |  |  | 5 |  |  |  |  |  |  |  | 5 |
Other |  |  |  |  |  |  | 28 |  |  |  |  |  |  |  | 34 |
|  |  |  |  |  |  | 427 |  |  |  |  |  |  |  | 419 |
Analysed as: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  |  |  |  |  | 26 |  |  |  |  |  |  |  | 35 |
Non-current |  |  |  |  |  |  | 401 |  |  |  |  |  |  |  | 384 |
|  |  |  |  |  |  | 427 |  |  |  |  |  |  |  | 419 |
Disclosure Of Lease Expenditure Recognised Explanatory | Amounts recognised in the Group income statement
|  |  |  |  | 2022 $m |  |  |  |  |  | 2021 $m |  |  |  |  |  | 2020 $m |
Depreciation of right-of-use assets |  |  |  |  |  |  | 25 |  |  |  |  |  |  |  | 27 |  |  |  |  |  |  |  | 35 |
System Fund depreciation of right-of-use assets |  |  |  |  |  |  | 3 |  |  |  |  |  |  |  | 3 |  |  |  |  |  |  |  | 4 |
Net impairment (reversal)/charge |  |  |  |  |  |  | – |  |  |  |  |  |  |  | – |  |  |  |  |  |  |  | 16 |
System Fund impairment (reversal)/charge |  |  |  |  |  |  | – |  |  |  |  |  |  |  | (3 | ) |  |  |  |  |  |  | 32 |
Derecognition of right-of-use assets and lease liabilities |  |  |  |  |  |  | – |  |  |  |  |  |  |  | – |  |  |  |  |  |  |  | (22 | )
Gain on lease termination |  |  |  |  |  |  | – |  |  |  |  |  |  |  | – |  |  |  |  |  |  |  | (30 | )
Expense relating to variable lease payments |  |  |  |  |  |  | 47 |  |  |  |  |  |  |  | 31 |  |  |  |  |  |  |  | 7 |
Expense relating to short-term leases and low-value assets |  |  |  |  |  |  | 1 |  |  |  |  |  |  |  | 1 |  |  |  |  |  |  |  | 2 |
Income from operating subleases of right-of-use assets |  |  |  |  |  |  | (1 | ) |  |  |  |  |  |  | (1 | ) |  |  |  |  |  |  | (1 | )
Recognised in operating profit/(loss) |  |  |  |  |  |  | 75 |  |  |  |  |  |  |  | 58 |  |  |  |  |  |  |  | 43 |
Interest on lease liabilities |  |  |  |  |  |  | 29 |  |  |  |  |  |  |  | 29 |  |  |  |  |  |  |  | 37 |
Total recognised in the Group income statement |  |  |  |  |  |  | 104 |  |  |  |  |  |  |  | 87 |  |  |  |  |  |  |  | 80 |
Disclosure Of Detailed Information About Operating Sublease Payments Receivables Explanatory |
Operating sublease payments receivable |  |  |  |  | Less than 1 year $m |  |  |  |  |  | Between 1 and 2 years $m |  |  |  |  |  | Between 2 and 5 years $m |  |  |  |  |  | Total $m |
At 31 December 2022 |  |  |  |  |  |  | 2 |  |  |  |  |  |  |  | 2 |  |  |  |  |  |  |  | 5 |  |  |  |  |  |  |  | 9 |
At 31 December 2021 |  |  |  |  |  |  | 2 |  |  |  |  |  |  |  | 2 |  |  |  |  |  |  |  | 5 |  |  |  |  |  |  |  | 9 |
Disclosure of Maturity Analysis of Finance Lease Payments Receivable | In 2022, the Group subleased a component of the US corporate headquarters for the remainder of the head lease term. No gain or loss arose.
Finance lease payments receivable |  |  |  |  | More than 5 years $m |  |  |  |  |  | Total undiscounted lease receivable $m |  |  |  |  |  | Unearned finance income $m |  |  |  |  |  | Finance lease receivable $m |
At 31 December 2022 |  |  |  |  |  |  | 2 |  |  |  |  |  |  |  | 2 |  |  |  |  |  |  |  | – |  |  |  |  |  |  |  | 2 |
Disclosure of Detailed Information About Lease Liabilities Recognized In Cash Flow Statement Explanatory | Amounts recognised in the Group statement of cash flows
|  |  |  |  | 2022 $m |  |  |  |  |  | 2021 $m |  |  |  |  |  | 2020 $m |
Operating activities |  |  |  |  |  |  | 72 |  |  |  |  |  |  |  | 55 |  |  |  |  |  |  |  | 39 |
Investing activities |  |  |  |  |  |  | (6 | ) |  |  |  |  |  |  | – |  |  |  |  |  |  |  | – |
Financing activities |  |  |  |  |  |  | 36 |  |  |  |  |  |  |  | 32 |  |  |  |  |  |  |  | 65 |
Net cash paid |  |  |  |  |  |  | 102 |  |  |  |  |  |  |  | 87 |  |  |  |  |  |  |  | 104 |

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- Definition The disclosure of a maturity analysis of finance lease payments receivable. Finance lease is a lease that transfers substantially all the risks and rewards incidental to ownership of an underlying asset. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2022-03-24 -Paragraph 94 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2022-en-r&anchor=para_94&doctype=Standard -URIDate 2022-03-24 + Details
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