XML 387 R50.htm IDEA: XBRL DOCUMENT v3.25.0.1

Financial Instruments and Risk Management (Tables)

12 Months Ended

Dec. 31, 2024

Disclosure of detailed information about financial instruments [abstract]

Schedule of groups and measurement bases of financial assets and financial liabilities

	As of December 31, 2024
	Financial assets		Financial liabilities
	Measured at fair value through the statement of income	Measured at amortized cost	Measured at fair value through the statement of income	Measured at amortized cost
	$ millions

Current assets
Cash and cash equivalents	-	327	-	-
Short-term investments and deposits	-	115	-	-
Trade receivables	-	1,260	-	-
Other receivables	-	33	-	-
Foreign currency derivative designated as economic hedge	12	-	-	-
Foreign currency and interest derivative instruments designated as cash flow hedge	4	-	-	-
Non-current assets
Foreign currency and interest derivative instruments designated as cash flow hedge	3	-	-	-
Other non-current assets	-	20	-	-
Total financial assets	19	1,755	-	-
Current liabilities
Short term debt	-	-	-	(384)
Trade payables	-	-	-	(1,002)
Other current liabilities	-	-	-	(156)
Foreign currency derivative designated as economic hedge	-	-	(11)	-
Foreign currency and interest derivative instruments designated as cash flow hedge	-	-	(3)	-
Non-current liabilities
Long term debt and debentures	-	-	-	(1,909)
Foreign currency and interest derivative instruments designated as cash flow hedge	-	-	(4)	-
Other non- current liabilities	-	-	-	(41)
Total financial liabilities	-	-	(18)	(3,492)
Total financial instruments, net	19	1,755	(18)	(3,492)

	As of December 31, 2023
	Financial assets		Financial liabilities
	Measured at fair value through the statement of income	Measured at amortized cost	Measured at fair value through the statement of income	Measured at amortized cost
	$ millions

Current assets
Cash and cash equivalents	-	420	-	-
Short-term investments and deposits	-	172	-	-
Trade receivables	-	1,376	-	-
Other receivables	-	94	-	-
Foreign currency derivative designated as economic hedge	43	-	-	-
Foreign currency and interest derivative instruments designated as cash flow hedge	10	-	-	-
Non-current assets
Foreign currency and interest derivative instruments designated as cash flow hedge	1	-	-	-
Other non-current assets	-	22	-	-
Total financial assets	54	2,084	-	-
Current liabilities
Short term debt	-	-	-	(858)
Trade payables	-	-	-	(912)
Other current liabilities	-	-	-	(180)
Foreign currency derivative designated as economic hedge	-	-	(4)	-
Foreign currency and interest derivative instruments designated as cash flow hedge	-	-	(3)	-
Non-current liabilities
Long term debt and debentures	-	-	-	(1,829)
Foreign currency and interest derivative instruments designated as cash flow hedge	-	-	(7)	-
Other non- current liabilities	-	-	-	(41)
Total financial liabilities	-	-	(14)	(3,820)
Total financial instruments, net	54	2,084	(14)	(3,820)

Schedule of maximum credit exposure

	As of December 31
	Carrying amount ($ millions)
	2024	2023

Cash and cash equivalents	327	420
Short term investments and deposits	115	172
Trade receivables	1,260	1,376
Other receivables	33	94
Derivatives	19	54
Other non-current assets	20	22
	1,774	2,138

Schedule of maximum credit exposure by geographical region

	As of December 31
	Carrying amount ($ millions)
	2024	2023

South America	390	409
Europe	310	352
Asia	278	313
North America	187	196
Israel	75	80
Other	20	26
	1,260	1,376

Schedule of aging of debts and impairment losses

	As of December 31
	2024		2023
	Gross	Impairment	Gross	Impairment
	$ millions	$ millions	$ millions	$ millions

Not past due	1,150	1	1,258	(3)
Past due up to 3 months	79	(1)	102	(1)
Past due 3 to 12 months	35	(5)	27	(7)
Past due over 12 months	22	(21)	2	(2)
	1,286	(26)	1,389	(13)

Schedule of allowance of doubtful accounts

	2024	2023
	$ millions	$ millions

Balance as of January 1	13	8
Additional allowance	16	5
Changes due to translation differences	(3)	-
Balance as of December 31	26	13

Schedule of liquidity risk

	As of December 31, 2024
	Carrying amount	12 months or less	1-2 years	3-5 years	More than 5 years
	$ millions

Non-derivative financial liabilities
Short term debt (not including current maturities)	276	282	-	-	-
Trade payables	1,002	1,002	-	-	-
Other current liabilities	156	156	-	-	-
Long-term debt, debentures and others	2,058	185	546	792	1,276
	3,492	1,625	546	792	1,276
Financial liabilities – derivative instruments
Foreign currency and interest derivative designated as economic hedge	11	11	-	-	-
Foreign currency and interest derivative designated as cash flow hedge	7	3	4	-	-
	18	14	4	-	-

	As of December 31, 2023
	Carrying amount	12 months or less	1-2 years	3-5 years	More than 5 years
	$ millions

Non-derivative financial liabilities
Short term debt (not including current maturities)	283	300	-	-	-
Trade payables	912	912	-	-	-
Other current liabilities	180	180	-	-	-
Long-term debt, debentures and others	2,445	666	599	653	1,339
	3,820	2,058	599	653	1,339
Financial liabilities – derivative instruments
Foreign currency and interest derivative designated as economic hedge	4	4	-	-	-
Foreign currency and interest derivative designated as cash flow hedge	10	3	7	-	-
	14	7	7	-	-

Schedule of interest rate profile

	As of December 31
	2024	2023
	$ millions	$ millions

Fixed rate instruments
Financial assets	387	387
Financial liabilities	(1,508)	(2,017)
	(1,121)	(1,630)
Variable rate instruments
Financial assets	49	49
Financial liabilities	(791)	(682)
	(742)	(633)

Schedule of sensitivity analysis for variable rate instruments

	As of December 31, 2024
	Impact on profit (loss)
	Decrease of 1% in interest	Decrease of 0.5% in interest	Increase of 0.5% in interest	Increase of 1% in interest
	$ millions

SWAP instruments
Changes in Israeli Shekel interest	14.8	7.0	(6.8)	(13.3)

Schedule of terms of derivative financial instruments used to hedge interest risk

	As of December 31, 2024
	Carrying amount (fair value)	Stated amount	Maturity date	Interest rate range
	$ millions	$ millions	Years	%

Israeli Shekel
SWAP contracts from fixed ILS interest to fixed USD interest	(3)	206	2025-2034	2.4%

	As of December 31, 2023
	Carrying amount (fair value)	Stated amount	Maturity date	Interest rate range
	$ millions	$ millions	Years	%

Israeli Shekel
SWAP contracts from fixed ILS interest to fixed USD interest	(5)	344	2024-2034	2.4-4.74%

Schedule of sensitivity analysis non-derivative financial instruments

	As of December 31,
	Impact on profit (loss)
	2024	2023
	$ millions	$ millions

Non-derivative financial instruments
US Dollar/Euro	(54)	(82)
US Dollar/Israeli Shekel	73	70
US Dollar/British Pound	(1)	2
US Dollar/Brazilian Real	-	31
US Dollar/Chinese Yuan	-	21

Schedule of market risk sensitivity analysis

	As of December 31, 2024
	Increase 10%	Increase 5%	Decrease 5%	Decrease 10%
	$ millions

US Dollar/Brazilian Real
Forward transactions	1	1	(1)	(2)
US Dollar/Israeli Shekel
Forward transactions	(66)	(34)	40	83
Forward transactions hedge accounting	(31)	(17)	15	33
SWAP	(17)	(9)	10	21
US Dollar/British Pound
Options	(3)	(2)	2	4
Euro/ US Dollar
Forward transactions	18	9	(8)	(15)
Options	4	2	(2)	(3)

Schedule of terms of derivative financial instruments used to economically hedge foreign currency risk

	As of December 31, 2024
	Carrying amount	Stated amount	Average
	$ millions		exchange rate

Forward contracts
US Dollar/Israeli Shekel	(1)	808	3.7
Euro/US Dollar	2	177	1.1
US Dollar/Brazilian Real	-	18	6.0
British Pound/Euro	-	115	1.2
British Pound/US Dollar	-	8	1.2
Euro/Chinese Yuan Renminbi	-	14	7.7
Other	-	12	-
Forward contracts hedge accounting
US Dollar/Israeli Shekel	2	320	3.7
Currency and interest SWAPs
US Dollar/Israeli Shekel	(3)	206	3.7
Put options
US Dollar/Israeli Shekel	-	-	3.7
Euro/US Dollar	1	40	1.1
US Dollar/Japanese Yen	-	5	152.0
British Pound/US Dollar	-	12	1.2
Call options
US Dollar/Israeli Shekel	-	-	3.7
Euro/US Dollar	-	40	1.1
US Dollar/Japanese Yen	-	5	152.0
British Pound/US Dollar	-	12	1.2

	As of December 31, 2023
	Carrying amount	Stated amount	Average exchange rate
	$ millions

Forward contracts
US Dollar/Israeli Shekel	35	735	3.7
Euro/US Dollar	5	12	1.1
US Dollar/Brazilian Real	-	14	5.0
British Pound/US Dollar	-	8	1.2
Euro/Chinese Yuan Renminbi	(1)	82	7.7
Other	-	54	293.9
Forward contracts hedge accounting
US Dollar/Israeli Shekel	6	345	3.7
Currency and interest SWAPs
US Dollar/Israeli Shekel	(5)	344	3.7
Put options
US Dollar/Israeli Shekel	-	-	3.7
Euro/US Dollar	-	45	1.1
US Dollar/Japanese Yen	-	5	140.7
British Pound/US Dollar	-	12	1.2
Call options
US Dollar/Israeli Shekel	-	-	3.7
Euro/US Dollar	-	45	1.1
US Dollar/Japanese Yen	-	5	140.7
British Pound/US Dollar	-	12	1.2

Schedule of linkage terms of monetary balances

	As of December 31, 2024
	US Dollar	Euro	British Pound	Israeli Shekel	Brazilian Real	Chinese Yuan Renminbi	Other	Total

Non-derivative instruments:
Cash and cash equivalents	55	20	9	2	69	151	21	327
Short term investments and deposits	108	1	-	-	-	6	-	115
Trade receivables	545	224	39	37	297	81	37	1,260
Other receivables	-	18	2	4	5	-	4	33
Other non-current assets	9	5	-	1	5	-	-	20
Total financial assets	717	268	50	44	376	238	62	1,755
Short-term debt	163	148	12	50	6	3	2	384
Trade payables	196	201	24	408	103	61	9	1,002
Other current liabilities	43	52	6	32	13	9	1	156
Long term debt, debentures and others	802	784	8	275	13	24	3	1,909
Other non-current liabilities	7	33	-	-	-	-	1	41
Total financial liabilities	1,211	1,218	50	765	135	97	16	3,492
Total non-derivative financial instruments, net	(494)	(950)	-	(721)	241	141	46	(1,737)
Derivative instruments:
Forward transactions	-	177	8	808	18	-	141	1,152
Forward transactions hedge accounting	-	-	-	320	-	-	-	320
Cylinder	-	40	12	-	-	-	5	57
SWAPS – US dollar into Israeli shekel	-	-	-	206	-	-	-	206
Total derivative instruments	-	217	20	1,334	18	-	146	1,735
Net exposure	(494)	(733)	20	613	259	141	192	(2)

	As of December 31, 2023
	US Dollar	Euro	British Pound	Israeli Shekel	Brazilian Real	Chinese Yuan Renminbi	Others	Total

Non-derivative instruments:
Cash and cash equivalents	78	10	15	2	65	230	20	420
Short term investments and deposits	163	1	-	-	-	5	3	172
Trade receivables	523	261	58	66	355	78	35	1,376
Other receivables	50	22	1	14	1	1	5	94
Other non-current assets	10	4	-	1	7	-	-	22
Total financial assets	824	298	74	83	428	314	63	2,084
Short-term debt	483	143	24	199	6	3	-	858
Trade payables	194	225	33	308	91	57	4	912
Other current liabilities	42	82	3	27	14	11	1	180
Long term debt, debentures and others	808	689	12	269	19	28	4	1,829
Other non-current liabilities	1	39	-	-	1	-	-	41
Total financial liabilities	1,528	1,178	72	803	131	99	9	3,820
Total non-derivative financial instruments, net	(704)	(880)	2	(720)	297	215	54	(1,736)
Derivative instruments:
Forward transactions	-	12	8	735	14	-	136	905
Forward transactions hedge accounting	-	-	-	345	-	-	-	345
Cylinder	-	45	12	-	-	-	5	62
SWAPS – US dollar into Israeli shekel	-	-	-	344	-	-	-	344
Total derivative instruments	-	57	20	1,424	14	-	141	1,656
Net exposure	(704)	(823)	22	704	311	215	195	(80)

Schedule of fair value of financial instruments

	As of December 31, 2024		As of December 31, 2023
	Carrying amount	Fair value	Carrying amount	Fair value
	$ millions		$ millions

Loans bearing fixed interest (1)	287	271	337	306
Debentures bearing fixed interest
Marketable (2)	909	845	1,208	1,118
Non-marketable (3)	47	47	196	194
	1,243	1,163	1,741	1,618

Schedule of hierarchy of fair value

Level 2	As of December 31, 2024	As of December 31, 2023
	$ millions	$ millions

Derivatives designated as economic hedge, net	1	39
Derivatives designated as cash flow hedge, net	-	1
	1	40

X

- Definition

The disclosure of detailed information about aging of debts and impairment losses.

+ References

No definition available.

+ Details

Name:	icl_DisclosureOfAgingOfDebtsAndImpairmentLossesExplanatoryTableTextBlock
Namespace Prefix:	icl_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	icl_DisclosureOfHierarchyOfFairValueExplanatory
Namespace Prefix:	icl_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	icl_DisclosureOfLinkageTermsOfMonetaryBalancesExplanatory
Namespace Prefix:	icl_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	icl_DisclosureOfMarketRiskSensitivityAnalysisExplanatory
Namespace Prefix:	icl_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	icl_DisclosureOfMaximumCreditExposureByGeographicalRegionExplanatory
Namespace Prefix:	icl_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	icl_DisclosureOfMaximumCreditExposureExplanatory
Namespace Prefix:	icl_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	icl_DisclosureOfSensitivityAnalysisNonDerivativeFinancialInstrumentsExplanatory
Namespace Prefix:	icl_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	icl_DisclosureOfTermsOfDerivativeFinancialInstrumentsUsedToEconomicallyHedgeForeignCurrencyRiskExplanatory
Namespace Prefix:	icl_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Disclosure of terms of derivative financial instruments used to hedge interest risk.

+ References

No definition available.

+ Details

Name:	icl_DisclosureOfTermsOfDerivativeFinancialInstrumentsUsedToHedgeInterestRiskExplanatory
Namespace Prefix:	icl_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The disclosure of information about the extent of possible differences between the carrying amount and fair value of: (a) investments in equity instruments that do not have a quoted market price in an active market (or derivatives linked to such equity instruments) that are measured at cost because their fair value cannot be measured reliably; and (b) contracts containing a discretionary participation feature if the fair value of that feature cannot be measured reliably.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Note Expired 2023-01-01
-Name IFRS
-Number 7
-IssueDate 2024-01-01
-Paragraph 30
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2022-en-b&anchor=para_30&doctype=Standard&book=b
-URIDate 2024-03-27

+ Details

Name:	ifrs-full_DisclosureOfFairValueOfFinancialAssetsAndFinancialLiabilitiesAndReclassificationExplanatory
Namespace Prefix:	ifrs-full_
Data Type:	dtr-2022:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The disclosure of the fair value of financial instruments. [Refer: Classes of financial instruments [domain]; At fair value [member]]

+ 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

Name:	ifrs-full_DisclosureOfFairValueOfFinancialInstrumentsExplanatory
Namespace Prefix:	ifrs-full_
Data Type:	dtr-2022:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	ifrs-full_DisclosureOfFinancialInstrumentsAbstract
Namespace Prefix:	ifrs-full_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The disclosure of financial instruments by type of interest rate. [Refer: Classes of financial instruments [domain]]

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name IFRS
-Number 7
-IssueDate 2024-01-01
-Paragraph 39
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2024-en-r&anchor=para_39&doctype=Standard
-URIDate 2024-03-27

+ Details

Name:	ifrs-full_DisclosureOfFinancialInstrumentsByTypeOfInterestRateExplanatory
Namespace Prefix:	ifrs-full_
Data Type:	dtr-2022:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The disclosure of liquidity risk. [Refer: Liquidity risk [member]]

+ 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

Name:	ifrs-full_DisclosureOfLiquidityRiskExplanatory
Namespace Prefix:	ifrs-full_
Data Type:	dtr-2022:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for regulatory deferral accounts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 14
-IssueDate 2024-01-01
-Section Presentation
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=14&code=ifrs-tx-2024-en-r&doctype=Standard&dita_xref=IFRS14_g18-26_TI
-URIDate 2024-03-27

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 14
-IssueDate 2024-01-01
-Section Disclosure
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=14&code=ifrs-tx-2024-en-r&doctype=Standard&dita_xref=IFRS14_g27-36_TI
-URIDate 2024-03-27

+ Details

Name:	ifrs-full_DisclosureOfRegulatoryDeferralAccountsExplanatory
Namespace Prefix:	ifrs-full_
Data Type:	dtr-2022:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The disclosure of a sensitivity analysis for significant actuarial assumptions used to determine the present value of a defined benefit obligation. [Refer: Actuarial assumptions [domain]; Defined benefit obligation, at present value]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 19
-IssueDate 2024-01-01
-Paragraph 145
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=19&code=ifrs-tx-2024-en-r&anchor=para_145&doctype=Standard
-URIDate 2024-03-27

+ Details

Name:	ifrs-full_DisclosureOfSensitivityAnalysisForActuarialAssumptionsExplanatory
Namespace Prefix:	ifrs-full_
Data Type:	dtr-2022:textBlockItemType
Balance Type:	na
Period Type:	duration