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Investment in associates and joint ventures (Tables) | 12 Months Ended
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Dec. 31, 2023
Statement [Line Items] |
Investment in Associates and Joint Ventures |
|  |  |  |  | 2023 $m |  |  |  |  |  | 2022 $m |
Cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
At 1 January |  |  |  |  |  |  | 89 |  |  |  |  |  |  |  | 132 |
Additions |  |  |  |  |  |  | 3 |  |  |  |  |  |  |  | 1 |
Share of profits/(losses) a |  |  |  |  |  |  | 13 |  |  |  |  |  |  |  | (41 | )
System Fund share of losses |  |  |  |  |  |  | (3 | ) |  |  |  |  |  |  | (1 | )
Dividends and distributions |  |  |  |  |  |  | (1 | ) |  |  |  |  |  |  | (1 | )
Exchange and other adjustments |  |  |  |  |  |  | – |  |  |  |  |  |  |  | (1 | )
At 31 December |  |  |  |  |  |  | 101 |  |  |  |  |  |  |  | 89 |
Impairment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
At 1 January |  |  |  |  |  |  | (53 | ) |  |  |  |  |  |  | (55 | )
Impairment reversal |  |  |  |  |  |  | – |  |  |  |  |  |  |  | 2 |
At 31 December |  |  |  |  |  |  | (53 | ) |  |  |  |  |  |  | (53 | )
Net book value |  |  |  |  |  |  | 48 |  |  |  |  |  |  |  | 36 |
Analysed as: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Barclay associate |  |  |  |  |  |  | 3 |  |  |  |  |  |  |  | – |
Other associates |  |  |  |  |  |  | 43 |  |  |  |  |  |  |  | 36 |
Joint ventures |  |  |  |  |  |  | 2 |  |  |  |  |  |  |  | – |
|  |  |  |  |  |  | 48 |  |  |  |  |  |  |  | 36 |
a | In 2023 and 2022, the total share of profits/(losses) from associates and joint ventures in the Group income statement included $18m gain and $18m loss, respectively, due to the liability recognised in 2022 and its subsequent reversal (see note 6). In 2022, $42m was included within exceptional items in addition to the $18m above.
Summary of Financial Information of Material Associate Investment | Summarised financial information in respect of the Barclay associate is set out below:
|  |  |  |  | 2023 $m |  |  |  |  |  | 2022 $m |
Non-current assets |  |  |  |  |  |  | 462 |  |  |  |  |  |  |  | 472 |
Current assets |  |  |  |  |  |  | 86 |  |  |  |  |  |  |  | 64 |
Current liabilities |  |  |  |  |  |  | (23 | ) |  |  |  |  |  |  | (33 | )
Non-current liabilities |  |  |  |  |  |  | (256 | ) |  |  |  |  |  |  | (250 | )
Net assets |  |  |  |  |  |  | 269 |  |  |  |  |  |  |  | 253 |
Group’s share of reported net assets at 19.9% |  |  |  |  |  |  | 53 |  |  |  |  |  |  |  | 50 |
Adjustments to reflect impairment, capitalised costs and additional rights and obligations under the shareholder agreement |  |  |  |  |  |  | (8 | ) |  |  |  |  |  |  | (8 | )
Effect of specially allocated expenses (note 6) |  |  |  |  |  |  | (42 | ) |  |  |  |  |  |  | (42 | )
Carrying amount |  |  |  |  |  |  | 3 |  |  |  |  |  |  |  | – |
|  |  |  |  | 2023 $m |  |  |  |  |  | 2022 $m |
Revenue |  |  |  |  |  |  | 131 |  |  |  |  |  |  |  | 106 |
Profit from continuing operations and total comprehensive income for the year |  |  |  |  |  |  | 15 |  |  |  |  |  |  |  | 8 |
Group’s share of profit/(loss) for the year a |  |  |  |  |  |  | 3 |  |  |  |  |  |  |  | (42 | )
a | Includes specially allocated expenses and the cost of funding owner returns.

X
- Definition The disclosure of the reconciliation of the summarised financial information of an associate accounted for using the equity method to the carrying amount of the reporting entity's interest in the associate. [Refer: Carrying amount [member]; Associates [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 12 -IssueDate 2023-01-01 -Paragraph B14 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_B14_b&doctype=Appendix&subtype=B -URIDate 2023-03-23 + Details
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- Definition Reconciliation of the movements in Associates and Joint Ventures in the year. + References No definition available. + Details
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- Definition Statement [Line Items] + References No definition available. + Details
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