XML 331 R57.htm IDEA: XBRL DOCUMENT v3.25.0.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2024
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 2023       571       50       2       623  
Additions and other
re-measurements
       15       –       2       17  
Transfers to investment property       (2 )      2       –       –  
Terminations       (51 )      –       (1 )      (52 ) 
Exchange and other adjustments       1       –       –       1  
At 31 December 2023       534       52       3       589  
Additions and other
re-measurements
    
28
 
–
 
5
 
33
Transfers to finance lease receivable    
(13
) 
  
(14
) 
  
(4
) 
  
(31
) 
Terminations    
(11
) 
  
–
 
(1
) 
  
(12
) 
Exchange and other adjustments    
(5
) 
  
–
 
–
 
(5
) 
At 31 December 2024
    
533
 
38
 
3
 
574
Depreciation and impairment
                                  
At 1 January 2023       (294 )      (47 )      (2 )      (343 ) 
Provided       (22 )      –       –       (22 ) 
System Fund expense       (2 )      –       –       (2 ) 
Transfers to investment property       2       (2 )      –       –  
Terminations       51       –       1       52  
Exchange and other adjustments       (1 )      –       –       (1 ) 
At 31 December 2023       (266 )      (49 )      (1 )      (316 ) 
Provided    
(21
) 
  
–
 
(1
) 
  
(22
) 
System Fund expense    
2
 
–
 
–
 
2
Transfers to finance lease receivable    
8
 
13
 
–
 
21
Terminations    
11
 
–
 
1
 
12
Exchange and other adjustments    
5
 
–
 
–
 
5
At 31 December 2024
    
(261
) 
  
(36
) 
  
(1
) 
  
(298
) 
                                   
Net book value
                                  
At 31 December 2024
    
272
 
2
 
2
 
276
At 31 December 2023       268       3       2       273  
At 1 January 2023       277       3       –       280  
Disclosure Of Lease Liabilities
The majority of the Group’s lease liabilities are discounted at incremental borrowing rates of up to 10%. 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.
 
       
    2024
        
    2023
  
Currency
      
$m
        
$m
  
US dollars
    
357
   
357
Sterling
    
31
   
32
Euros
    
3
   
4
Other
    
23
   
33
     
414
   
426
 
 
 
 
 
 
 
 
 
 
 
 
 
Analysed as:
                    
Current
    
26
   
30
Non-current
    
388
   
396
     
414
   
426
Disclosure Of Lease Expenditure Recognised Explanatory
Amounts recognised in the Group income statement
 
        
    2024
$m
             2023
$m		               2022
$m		  
Depreciation of
right-of-use
assets		    
22
      22         25  
System Fund depreciation of
right-of-use
assets		    
(2
) 
       2         3  
Expense relating to variable lease payments    
77
      62         47  
Expense relating to short-term leases and
low-value
assets		    
1
      2         1  
Income from operating subleases    
(3
)
       (2 )        (1 ) 
Recognised in operating profit
    
95
      86         75  
Interest on lease liabilities    
30
      29         29  
Total recognised in the Group income statement
    
125
      115         104  
Disclosure of Detailed Information About Lease Liabilities Recognized In Cash Flow Statement Explanatory
Amounts recognised in the Group statement of cash flows
 
        
    2024
$m
        
    2023
$m
          
    2022
$m
  
Operating activities    
108
      92         72  
Investing activities    
(4
) 
       –         (6 ) 
Financing activities    
46
      28         36  
Net cash paid
    
150
      120          102