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Trade and other receivables | 12 Months Ended
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Dec. 31, 2024
Disclosure [Abstract] |
Trade and other receivables | 16. Trade and other receivables
|  |  |  | 2024 $m |  |  |  |  | 2023 $m |
Current |  |  |  |  |  |  |  |  |  |  |  |
Trade receivables |  |  |  |  | 651 |  |  |  |  |  | 580 |
Other receivables |  |  |  |  | 41 |  |  |  |  |  | 68 |
Prepayments |  |  |  |  | 93 |  |  |  |  |  | 92 |
|  |  |  |  | 785 |  |  |  |  |  | 740 |
Non-current |  |  |  |  |  |  |  |  |  |  |  |
Finance lease receivables |  |  |  |  | 12 |  |  |  |  |  | 6 |
Other receivables |  |  |  |  | 5 |  |  |  |  |  | 3 |
Prepayments |  |  |  |  | 18 |  |  |  |  |  | 4 |
|  |  |  |  | 35 |  |  |  |  |  | 13 |
Expected credit losses The ageing of trade receivables shown below reflects the initial terms under the invoice rather than the revised terms in cases 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.
|  |  |  |  |  |  |  |  |  | 2024 |  |  |  |  |  |  |  |  |  |  |  | 2023 |
|  |  |  | Gross $m |  |  | Credit loss allowance $m |  |  | Net $m |  |  |  |  |  | Gross $m |  |  | Credit loss allowance $m |  |  | Net $m |
Not past due |  |  |  |  | 384 |  |  |  | – |  |  |  | 384 |  |  |  |  |  |  |  | 354 |  |  |  | (1 | ) |  |  | 353 |
Past due 1 to 30 days |  |  |  |  | 90 |  |  |  | (4 | ) |  |  | 86 |  |  |  |  |  |  |  | 88 |  |  |  | (5 | ) |  |  | 83 |
Past due 31 to 90 days |  |  |  |  | 80 |  |  |  | (5 | ) |  |  | 75 |  |  |  |  |  |  |  | 69 |  |  |  | (6 | ) |  |  | 63 |
Past due 91 to 180 days |  |  |  |  | 53 |  |  |  | (8 | ) |  |  | 45 |  |  |  |  |  |  |  | 51 |  |  |  | (8 | ) |  |  | 43 |
Past due 181 to 360 days |  |  |  |  | 66 |  |  |  | (19 | ) |  |  | 47 |  |  |  |  |  |  |  | 38 |  |  |  | (11 | ) |  |  | 27 |
Past due more than 361 days |  |  |  |  | 98 |  |  |  | (84 | ) |  |  | 14 |  |  |  |  |  |  |  | 86 |  |  |  | (75 | ) |  |  | 11 |
|  |  |  |  | 771 |  |  |  | (120 | ) |  |  | 651 |  |  |  |  |  |  |  | 686 |  |  |  | (106 | ) |  |  | 580 |
Movement in the allowance for expected credit losses |  |  |  | 2024 $m |  |  |  |  | 2023 $m |
At 1 January |  |  |  |  | (106 | ) |  |  |  |  | (117 | )
Impairment (loss)/reversal |  |  |  |  | (16 | ) |  |  |  |  | 1 |
System Fund impairment loss |  |  |  |  | (9 | ) |  |  |  |  | – |
Amounts written off |  |  |  |  | 8 |  |  |  |  |  | 9 |
Exchange and other adjustments |  |  |  |  | 3 |  |  |  |  |  | 1 |
At 31 December |  |  |  |  | (120 | ) |  |  |  |  | (106 | )
In 2024, the Group refined its expected credit loss model to calculate historical experience for certain populations of owner groups with different risk profiles to the core population. The difference between providing on this basis and using the regional provision matrix is immaterial. 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 is their carrying value of $709m (2023: $657m).

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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 2024-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2024-en-r&anchor=para_10_e&doctype=Standard -URIDate 2024-03-27 + Details
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- Definition Disclosure text block [abstract] + References No definition available. + Details
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