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Trade and other receivables | 12 Months Ended
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Dec. 31, 2023
Text Block [Abstract] |
Trade and other receivables | 17. Trade and other receivables
|  |  |  |  | 2023 $m |  |  |  |  |  | 2022 $m |
Current |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade receivables |  |  |  |  |  |  | 580 |  |  |  |  |  |  |  | 493 |
Other receivables |  |  |  |  |  |  | 68 |  |  |  |  |  |  |  | 49 |
Prepayments |  |  |  |  |  |  | 92 |  |  |  |  |  |  |  | 104 |
|  |  |  |  |  |  | 740 |  |  |  |  |  |  |  | 646 |
Non-current |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Finance lease receivables |  |  |  |  |  |  | 6 |  |  |  |  |  |  |  | 2 |
Other receivables |  |  |  |  |  |  | 3 |  |  |  |  |  |  |  | 1 |
Prepayments |  |  |  |  |  |  | 4 |  |  |  |  |  |  |  | – |
|  |  |  |  |  |  | 13 |  |  |  |  |  |  |  | 3 |
Expected credit losses The ageing of trade receivables shown below reflects the initial terms under the invoice rather than the revised terms where payment flexibility has been provided to owners. The net balances presented in the table below could result in additional credit losses if they are ultimately found to be uncollectable. Expected credit losses relating to other receivables following their initial recognition are immaterial.
|  |  |  |  |  |  |  |  |  |  | 2023 |  |  |  |  |  |  |  |  |  |  |  | 2022 |
|  |  |  |  | Gross $m |  |  | Credit loss allowance $m |  |  | Net $m |  |  |  |  |  | Gross $m |  |  | Credit loss allowance $m |  |  | Net $m |
Not past due |  |  |  |  |  |  | 354 |  |  |  | (1 | ) |  |  | 353 |  |  |  |  |  |  |  | 307 |  |  |  | (1 | ) |  |  | 306 |
Past due 1 to 30 days |  |  |  |  |  |  | 88 |  |  |  | (5 | ) |  |  | 83 |  |  |  |  |  |  |  | 76 |  |  |  | (7 | ) |  |  | 69 |
Past due 31 to 90 days |  |  |  |  |  |  | 69 |  |  |  | (6 | ) |  |  | 63 |  |  |  |  |  |  |  | 57 |  |  |  | (6 | ) |  |  | 51 |
Past due 91 to 180 days |  |  |  |  |  |  | 51 |  |  |  | (8 | ) |  |  | 43 |  |  |  |  |  |  |  | 46 |  |  |  | (9 | ) |  |  | 37 |
Past due 181 to 360 days |  |  |  |  |  |  | 38 |  |  |  | (11 | ) |  |  | 27 |  |  |  |  |  |  |  | 34 |  |  |  | (11 | ) |  |  | 23 |
Past due more than 361 days |  |  |  |  |  |  | 86 |  |  |  | (75 | ) |  |  | 11 |  |  |  |  |  |  |  | 90 |  |  |  | (83 | ) |  |  | 7 |
|  |  |  |  |  |  | 686 |  |  |  | (106 | ) |  |  | 580 |  |  |  |  |  |  |  | 610 |  |  |  | (117 | ) |  |  | 493 |
Movement in the allowance for expected credit losses |  |  |  |  | 2023 $m |  |  |  |  |  | 2022 $m |
At 1 January |  |  |  |  |  |  | (117 | ) |  |  |  |  |  |  | (133 | )
Reclassification to other receivables |  |  |  |  |  |  | – |  |  |  |  |  |  |  | 9 |
Impairment reversal/(loss) |  |  |  |  |  |  | 1 |  |  |  |  |  |  |  | (5 | )
System Fund impairment loss |  |  |  |  |  |  | – |  |  |  |  |  |  |  | (7 | )
Amounts written off |  |  |  |  |  |  | 9 |  |  |  |  |  |  |  | 17 |
Exchange and other adjustments |  |  |  |  |  |  | 1 |  |  |  |  |  |  |  | 2 |
At 31 December |  |  |  |  |  |  | (106 | ) |  |  |  |  |  |  | (117 | )
If the regional provision matrix was applied to all owner groups (rather than by reference to other sources of data), the provision would reduce by $13m (2022: $15m). Credit risk The Group trades only with recognised, creditworthy third parties. It is the Group’s policy that all customers who wish to trade on credit terms are subject to credit verification procedures. The maximum exposure to credit risk for trade and other receivables, excluding prepayments, at the end of the reporting period by geographic region is as follows:
|  |  |  |  | 2023 $m |  |  |  |  |  | 2022 $m |
Americas |  |  |  |  |  |  | 359 |  |  |  |  |  |  |  | 321 |
EMEAA |  |  |  |  |  |  | 199 |  |  |  |  |  |  |  | 152 |
Greater China |  |  |  |  |  |  | 99 |  |  |  |  |  |  |  | 72 |
|  |  |  |  |  |  | 657 |  |  |  |  |  |  |  | 545 |

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- Definition The disclosure of trade and other receivables. [Refer: Trade and other receivables] + 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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- Definition Text block [abstract] + References No definition available. + Details
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