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Financial income and expenses | 12 Months Ended
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Dec. 31, 2023
Text Block [Abstract] |
Financial income and expenses | 7. Financial income and expenses
|  |  |  |  | 2023 $m |  |  |  |  | 2022 $m |  |  |  |  | 2021 $m
Financial income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial income on deposits and money market funds |  |  |  |  |  | 33 |  |  |  |  |  | 17 |  |  |  |  |  | 2
Interest income on loans and other assets |  |  |  |  |  | 6 |  |  |  |  |  | 5 |  |  |  |  |  | 6
|  |  |  |  |  | 39 |  |  |  |  |  | 22 |  |  |  |  |  | 8
Financial expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense on external borrowings |  |  |  |  |  | 85 |  |  |  |  |  | 92 |  |  |  |  |  | 109
Interest expense on lease liabilities |  |  |  |  |  | 29 |  |  |  |  |  | 29 |  |  |  |  |  | 29
Unwind of discount on deferred purchase consideration |  |  |  |  |  | 1 |  |  |  |  |  | – |  |  |  |  |  | 1
Foreign exchange gains |  |  |  |  |  | (35) |  |  |  |  |  | (10) |  |  |  |  |  | –
Other charges |  |  |  |  |  | 11 |  |  |  |  |  | 7 |  |  |  |  |  | 8
|  |  |  |  |  | 91 |  |  |  |  |  | 118 |  |  |  |  |  | 147
Financial income comprises $24m (2022: $12m, 2021: $8m) relating to financial assets held at amortised cost and $15m (2022: $10m, 2021: $nil) relating to financial assets held at FVTPL. Interest expense on external borrowings and unwind of discount on deferred purchase consideration relate to financial liabilities which are held at amortised cost. Other charges includes bank charges and non-bank interest expense. In 2023, $43m (2022: $15m, 2021: $1m) was payable to the System Fund in relation to interest accumulated on the balance of cash received in advance of the consumption of points awarded through the IHG One Rewards loyalty programme. The expense and corresponding System Fund interest income are eliminated within financial expenses. On a net basis, financial income and expenses includes $1m (2022: $1m, 2021: $2m) of other interest which is also attributable to the System Fund. Net interest payable as calculated for bank covenants can be found on page 201.

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- Definition The disclosure of finance income (cost). [Refer: Finance income (cost)] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_10_e&doctype=Standard -URIDate 2023-03-23 + Details
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