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Trade and other receivables
 12 Months Ended
Dec. 31, 2025
Trade and other receivables [abstract]  
Trade and other receivables 16. Trade and other receivables
2025
2024
$m
$m
Current
Trade receivables
698
651
Other receivables
49
41
Prepayments
86
93
833
785
Non-current
Finance lease receivables
7
12
Other receivables
7
5
Prepayments
5
18
19
35
16. Trade and other receivables continued
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.
2025
2024
Gross
Credit loss
allowance
Net
Gross
Credit loss
allowance
Net
$m
$m
$m
$m
$m
$m
Not past due
400
–
400
384
–
384
Past due 1 to 30 days
105
(5)
100
90
(4)
86
Past due 31 to 90 days
81
(6)
75
80
(5)
75
Past due 91 to 180 days
59
(10)
49
53
(8)
45
Past due 181 to 360 days
59
(19)
40
66
(19)
47
Past due more than 361 days
144
(110)
34
98
(84)
14
848
(150)
698
771
(120)
651
2025
2024
Movement in the allowance for expected credit losses
$m
$m
At 1 January
(120)
(106)
Impairment loss
(20)
(16)
System Fund impairment loss
(19)
(9)
Amounts written off
13
8
Exchange and other adjustments
(4)
3
At 31 December
(150)
(120)
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 $761m (2024: $709m).