Deferred tax assets and liabilities (Tables)

12 Months Ended

Dec. 31, 2019

Disclosure of temporary difference, unused tax losses and unused tax credits



($ millions)	Property, plant & equipment		Intangible assets		Pensions and other benefit obligations of associates		Inventories		Tax loss carry- forwards		Other assets, provision and accruals		Total
Gross deferred tax assets at December 31, 2018	12				125		262		39		235		673
Gross deferred tax liabilities at December 31, 2018	(94	)	(1,403	)	(2	)	(14	)			(18	)	(1,531	)
Net deferred tax balance at December 31, 2018	(82	)	(1,403	)	123		248		39		217		(858	)
At December 31, 2018	(82	)	(1,403	)	123		248		39		217		(858	)
(Charged)/credited to income	(71	)	(194	)	18		111		50		(36	)	(122	)
Credited to equity											25		25
Credited to other comprehensive income					11						5		16
Impact of business combinations			(121	)					28				(93	)
Other movements	(6	)	11		(11	)	(11	)	(7	)	24		—
Net deferred tax balance at December 31, 2019	(159	)	(1,707	)	141		348		110		235		(1,032	)
Gross deferred tax assets at December 31, 2019	13		6		151		371		110		281		932
Gross deferred tax liabilities at December 31, 2019	(172	)	(1,713	)	(10	)	(23	)	—		(46	)	(1,964	)
Net deferred tax balance at December 31, 2019	(159	)	(1,707	)	141		348		110		235		(1,032	)



($ millions)	Property, plant & equipment		Intangible assets		Pensions and other benefit obligations of associates		Inventories		Tax loss carry- forwards	Other assets, provisions and accruals		Total
Gross deferred tax assets at January 1, 2018	10				121		169		18	232		550
Gross deferred tax liabilities at January 1, 2018	(69	)	(1,531	)	(7	)	(32	)		(25	)	(1,664	)
Net deferred tax balance at January 1, 2018	(59	)	(1,531	)	114		137		18	207		(1,114	)
At January 1, 2018	(59	)	(1,531	)	114		137		18	207		(1,114	)
Credited/(charged) to income	(23	)	212		13		82		9	14		307
Charged to equity										(2	)	(2	)
Charged to other comprehensive income					(2	)						(2	)
Impact of business combinations			(78	)					12			(66	)
Other movements			(6	)	(2	)	29			(2	)	19
Net deferred tax balance at December 31, 2018	(82	)	(1,403	)	123		248		39	217		(858	)
Gross deferred tax assets at December 31, 2018	12				125		262		39	235		673
Gross deferred tax liabilities at December 31, 2018	(94	)	(1,403	)	(2	)	(14	)		(18	)	(1,531	)
Net deferred tax balance at December 31, 2018	(82	)	(1,403	)	123		248		39	217		(858	)

Disclosure of components in deferred taxes

The below table presents the Net deferred tax balance as of December 31, 2019 after offsetting $578 million of deferred tax assets and liabilities within the same tax jurisdiction.



($ millions)	At December 31, 2019
Deferred tax assets	354
Deferred tax liabilities	(1,386	)
Net deferred tax balance	(1,032	)

The below table presents the Net deferred tax balance as of December 31, 2018 after offsetting $3 million of deferred tax assets and liabilities within the same tax jurisdiction.



($ millions)	At December 31, 2018
Deferred tax assets	670
Deferred tax liabilities	(1,528	)
Net deferred tax balance	(858	)

Disclosure of impact of deferred taxes on current taxes payable

The below table presents deferred tax assets and deferred tax liabilities expected to have an impact on current taxes payable after more than twelve months.



($ billions)	At December 31, 2019	At December 31, 2018
Deferred tax assets	0.6	0.3
Deferred tax liabilities	1.8	1.5