XML 35 R22.htm IDEA: XBRL DOCUMENT v3.22.2
Financial instruments (Tables)
 6 Months Ended
Jun. 30, 2022
Financial Instruments [Abstract]  
Disclosure of fair value measurement of assets
The below tables summarize financial assets and liabilities measured at fair value on a recurring basis or at amortized cost or cost as of June 30, 2022 and December 31, 2021.
June 30, 2022
($ millions)Level 1Level 2Level 3
Valued at amortized cost or cost(3)
Total
Non-current financial assets
Long-term financial investments measured at FVOCI— — 65 — 65 
Long-term financial investments measured at FVPL— — 5 — 5 
Long-term receivables from customers— — — 117 117 
Deferred compensation assets(1)
135 — — — 135 
Non-current minimum lease payments from finance lease agreements— — — 38 38 
Long-term loans, advances and security deposits— — — 21 21 
Non-current financial assets135 — 70 176 381 
Current financial assets
Money market funds241 — — — 241 
Current portion of long-term receivables from customers(2)
— — — 102 102 
Current portion of minimum lease payments from finance lease agreements(2)
— — — 26 26 
Other receivables, security deposits and current assets(2)
— — — 70 70 
VAT receivables(2)
— — — 75 75 
Derivative financial instruments(2)
— 7 — — 7 
Current financial assets241 7 — 273 521 
Financial assets at fair value and amortized cost or cost376 7 70 449 902 
Financial liabilities
Contingent consideration liabilities— — (109)— (109)
Non-current financial debt— — — (3,883)(3,883)
Current financial debt— — — (86)(86)
Derivative financial instruments— (1)— — (1)
Financial liabilities at fair value and amortized cost— (1)(109)(3,969)(4,079)
(1)    Recorded in Other non-current assets.
(2)    Recorded in Other current assets.
(3)    The carrying amount is a reasonable approximation of fair value, with the exception of the Series 2026, 2028, 2029, 2030 and 2049 notes recorded in Non-current financial debt with a fair value of $2,912 million and a carrying value of $3,246 million as of June 30, 2022. The fair value of notes was determined using Level 2 inputs. The notes were valued using the quoted market price for such notes, which have low trading volumes.
December 31, 2021
($ millions)Level 1Level 2Level 3
Valued at amortized cost or cost(3)
Total
Non-current financial assets
Long-term financial investments measured at FVOCI— — 46 — 46 
Long-term financial investments measured at FVPL— — 6 — 6 
Long-term receivables from customers— — — 110 110 
Deferred compensation assets(1)
155 — — — 155 
Non-current minimum lease payments from finance lease agreements— — — 35 35 
Long-term loans, advances and security deposits— — — 20 20 
Non-current financial assets155 — 52 165 372 
Current financial assets
Money market funds624 — — — 624 
Equity securities of public companies(2)
3 — — — 3 
Current portion of long-term receivables from customers(2)
— — — 97 97 
Current portion of minimum lease payments from finance lease agreements(2)
— — — 28 28 
Other receivables, security deposits and current assets(2)
— — — 79 79 
VAT receivables(2)
— — — 105 105 
Derivative financial instruments(2)
— 3 — — 3 
Current financial assets627 3 — 309 939 
Financial assets at fair value and amortized cost or cost782 3 52 474 1,311 
Financial liabilities
Contingent consideration liabilities— — (112)— (112)
Non-current financial debt— — — (3,966)(3,966)
Current financial debt— — — (107)(107)
Derivative financial instruments— (7)— — (7)
Financial liabilities at fair value and amortized cost— (7)(112)(4,073)(4,192)
(1)    Recorded in Other non-current assets.
(2)    Recorded in Other current assets.
(3)    The carrying amount is a reasonable approximation of fair value, with the exception of the Series 2026, 2029, 2030 and 2049 notes recorded in Non-current financial debt with a fair value of $2,891 million and a carrying value of $2,728 million as of December 31, 2021. The fair value of notes was determined using Level 2 inputs. The notes were valued using the quoted market price for such notes, which have low trading volumes.
Financial assets
Long-term financial investments measured
at FVOCI		Financial investments
measured at FVPL
($ millions)2022202120222021
Balance as of January 146 28 6 24 
Additions19 9 — — 
Gain recognized in Consolidated Statement of Comprehensive Income1 — — — 
Unrealized (losses) in Consolidated Income Statement— — (1)(1)
Amortization— — — (8)
Settlement(1)— — — 
Balance as of June 3065 37 5 15 
Disclosure of fair value measurement of liabilities
The below tables summarize financial assets and liabilities measured at fair value on a recurring basis or at amortized cost or cost as of June 30, 2022 and December 31, 2021.
June 30, 2022
($ millions)Level 1Level 2Level 3
Valued at amortized cost or cost(3)
Total
Non-current financial assets
Long-term financial investments measured at FVOCI— — 65 — 65 
Long-term financial investments measured at FVPL— — 5 — 5 
Long-term receivables from customers— — — 117 117 
Deferred compensation assets(1)
135 — — — 135 
Non-current minimum lease payments from finance lease agreements— — — 38 38 
Long-term loans, advances and security deposits— — — 21 21 
Non-current financial assets135 — 70 176 381 
Current financial assets
Money market funds241 — — — 241 
Current portion of long-term receivables from customers(2)
— — — 102 102 
Current portion of minimum lease payments from finance lease agreements(2)
— — — 26 26 
Other receivables, security deposits and current assets(2)
— — — 70 70 
VAT receivables(2)
— — — 75 75 
Derivative financial instruments(2)
— 7 — — 7 
Current financial assets241 7 — 273 521 
Financial assets at fair value and amortized cost or cost376 7 70 449 902 
Financial liabilities
Contingent consideration liabilities— — (109)— (109)
Non-current financial debt— — — (3,883)(3,883)
Current financial debt— — — (86)(86)
Derivative financial instruments— (1)— — (1)
Financial liabilities at fair value and amortized cost— (1)(109)(3,969)(4,079)
(1)    Recorded in Other non-current assets.
(2)    Recorded in Other current assets.
(3)    The carrying amount is a reasonable approximation of fair value, with the exception of the Series 2026, 2028, 2029, 2030 and 2049 notes recorded in Non-current financial debt with a fair value of $2,912 million and a carrying value of $3,246 million as of June 30, 2022. The fair value of notes was determined using Level 2 inputs. The notes were valued using the quoted market price for such notes, which have low trading volumes.
December 31, 2021
($ millions)Level 1Level 2Level 3
Valued at amortized cost or cost(3)
Total
Non-current financial assets
Long-term financial investments measured at FVOCI— — 46 — 46 
Long-term financial investments measured at FVPL— — 6 — 6 
Long-term receivables from customers— — — 110 110 
Deferred compensation assets(1)
155 — — — 155 
Non-current minimum lease payments from finance lease agreements— — — 35 35 
Long-term loans, advances and security deposits— — — 20 20 
Non-current financial assets155 — 52 165 372 
Current financial assets
Money market funds624 — — — 624 
Equity securities of public companies(2)
3 — — — 3 
Current portion of long-term receivables from customers(2)
— — — 97 97 
Current portion of minimum lease payments from finance lease agreements(2)
— — — 28 28 
Other receivables, security deposits and current assets(2)
— — — 79 79 
VAT receivables(2)
— — — 105 105 
Derivative financial instruments(2)
— 3 — — 3 
Current financial assets627 3 — 309 939 
Financial assets at fair value and amortized cost or cost782 3 52 474 1,311 
Financial liabilities
Contingent consideration liabilities— — (112)— (112)
Non-current financial debt— — — (3,966)(3,966)
Current financial debt— — — (107)(107)
Derivative financial instruments— (7)— — (7)
Financial liabilities at fair value and amortized cost— (7)(112)(4,073)(4,192)
(1)    Recorded in Other non-current assets.
(2)    Recorded in Other current assets.
(3)    The carrying amount is a reasonable approximation of fair value, with the exception of the Series 2026, 2029, 2030 and 2049 notes recorded in Non-current financial debt with a fair value of $2,891 million and a carrying value of $2,728 million as of December 31, 2021. The fair value of notes was determined using Level 2 inputs. The notes were valued using the quoted market price for such notes, which have low trading volumes.
Financial liabilities
Contingent consideration liabilities
($ millions)20222021
Balance as of January 1(112)(157)
Accretion for passage of time(4)(7)
Adjustments for changes in assumptions7 — 
Payments— 15 
Balance as of June 30(109)(149)