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Investments In Subsidiaries (Tables)
 12 Months Ended
Dec. 31, 2021
Disclosure of subsidiaries [abstract]  
Non-controlling interests in subsidiaries - Balance Sheet
 
 
As of December 31
 
2021
2020
 
$ millions
$ millions
     
Current assets
231
149
Non-current assets
408
400
Current liabilities
(168)
(189)
Non-current liabilities
(83)
(76)
Equity
(388)
(284)
Non-controlling interests in subsidiaries - Profit and Loss
 
 
For the year ended December 31
 
2021
2020
2019
 
$ millions
$ millions
$ millions
 
Sales
528
359
349
Operating Income
105
29
23
Depreciation and amortization
38
37
41
Operating income before depreciation and amortization
143
66
64
Net Income
96
23
11
Total Comprehensive income
104
40
8
Disclosure of identifiable assets acquired and liabilities assumed
 

$ millions
   

Cash and cash equivalents

34

Inventories

102

Trade and Other receivables

169

Property, plant and equipment

125

Intangible assets

252

Other non-current assets

23

Trade and Other payables
(106)

Loans and Credit

(169)

Provisions

(3)

Net identifiable assets

427
 
(*) As of the reporting date, the Company is still in a process of finalizing ADS' Purchase Price Allocation (PPA).
 
  (2)
In July 2021, the Company completed the sale of Jiaxing ICL Chemical Co. Ltd (ICL Zhapu), which was part of the Industrial Products segment to China Sanjiang Fine Chemicals Company Limited, for a consideration of about $25 million. As a result, in 2021, the Company recognized a capital gain of about $18 million, as "other income".
     
  (3)
As part of the Company's strategy to divest low synergy businesses and non-core business activities, in January 2022, the Company entered into a definitive agreement to sell its 50% share in the joint venture Novetide Ltd., which was accounted for according to the equity method. The sale's consideration is about $33 million, of which $8 million represent an estimate for the fair value of a contingent consideration. The closing of the transaction is expected in early March 2022. As a result, in the first quarter of 2022, the Company will recognize a capital gain of about $20 million, subject to net debt and working capital adjustments at the closing date.