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Financial instruments (Tables) | 6 Months Ended
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Jun. 30, 2023
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, 2023 and December 31, 2022.
| June 30, 2023
($ millions) | Level 1 | Level 2 | Level 3 | Valued at amortized cost or cost(3) | Total
Non-current financial assets |  |  |  |  |
Long-term financial investments measured at FVOCI | — |  | — |  | 143 |  | — |  | 143 |
Long-term financial investments measured at FVPL | — |  | — |  | 22 |  | — |  | 22 |
Long-term note receivable and other financial assets measured at amortized cost | — |  | — |  | — |  | 154 |  | 154 |
Long-term receivables from customers | — |  | — |  | — |  | 122 |  | 122 |
Deferred compensation assets(1) | 153 |  | — |  | — |  | — |  | 153 |
Non-current minimum lease payments from finance lease agreements | — |  | — |  | — |  | 37 |  | 37 |
Long-term loans, VAT receivables, advances and security deposits | — |  | — |  | — |  | 35 |  | 35 |
Non-current financial assets | 153 |  | — |  | 165 |  | 348 |  | 666 |
Current financial assets |  |  |  |  |
Money market funds | 173 |  | — |  | — |  | — |  | 173 |
Current portion of long-term financial investments measured at FVPL(2) | — |  | — |  | 1 |  | — |  | 1 |
Current portion of long-term receivables from customers(2) | — |  | — |  | — |  | 112 |  | 112 |
Current portion of minimum lease payments from finance lease agreements(2) | — |  | — |  | — |  | 26 |  | 26 |
VAT receivables(2) | — |  | — |  | — |  | 82 |  | 82 |
Other receivables, security deposits and current assets(2) | — |  | — |  | — |  | 87 |  | 87 |
Derivative financial instruments(2) | — |  | 14 |  | — |  | — |  | 14 |
Current financial assets | 173 |  | 14 |  | 1 |  | 307 |  | 495 |
Financial assets at fair value and amortized cost or cost | 326 |  | 14 |  | 166 |  | 655 |  | 1,161 |
Financial liabilities |  |  |  |  |
Contingent consideration liabilities | — |  | — |  | (102) |  | — |  | (102) |
Non-current financial debt | — |  | — |  | — |  | (4,581) |  | (4,581) |
Current financial debt | — |  | — |  | — |  | (99) |  | (99) |
Derivative financial instruments | — |  | (1) |  | — |  | — |  | (1) |
Financial liabilities at fair value and amortized cost | — |  | (1) |  | (102) |  | (4,680) |  | (4,783) |
(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, 2032, 2049 and 2052 Notes recorded in Non-current financial debt with a fair value of $4,208 million and a carrying value of $4,554 million as of June 30, 2023. The fair value of notes was determined using Level 2 inputs. The notes were valued using the quoted market price for such notes, which have low trading volumes.
| December 31, 2022
($ millions) | Level 1 | Level 2 | Level 3 | Valued at amortized cost or cost(3) | Total
Non-current financial assets |  |  |  |  |
Long-term financial investments measured at FVOCI | — |  | — |  | 88 |  | — |  | 88 |
Long-term financial investments measured at FVPL | — |  | — |  | 20 |  | — |  | 20 |
Long-term receivables from customers | — |  | — |  | — |  | 119 |  | 119 |
Deferred compensation assets(1) | 139 |  | — |  | — |  | — |  | 139 |
Non-current minimum lease payments from finance lease agreements | — |  | — |  | — |  | 38 |  | 38 |
Long-term loans, advances and security deposits | — |  | — |  | — |  | 22 |  | 22 |
Non-current financial assets | 139 |  | — |  | 108 |  | 179 |  | 426 |
Current financial assets |  |  |  |  |
Money market funds | 229 |  | — |  | — |  | — |  | 229 |
Current portion of long-term receivables from customers(2) | — |  | — |  | — |  | 102 |  | 102 |
Current portion of minimum lease payments from finance lease agreements(2) | — |  | — |  | — |  | 25 |  | 25 |
VAT receivables(2) | — |  | — |  | — |  | 99 |  | 99 |
Other receivables, security deposits and current assets(2) | — |  | — |  | — |  | 77 |  | 77 |
Derivative financial instruments(2) | — |  | 8 |  | — |  | — |  | 8 |
Current financial assets | 229 |  | 8 |  | — |  | 303 |  | 540 |
Financial assets at fair value and amortized cost or cost | 368 |  | 8 |  | 108 |  | 482 |  | 966 |
Financial liabilities |  |  |  |  |
Contingent consideration liabilities | — |  | — |  | (98) |  | — |  | (98) |
Non-current financial debt | — |  | — |  | — |  | (4,541) |  | (4,541) |
Current financial debt | — |  | — |  | — |  | (97) |  | (97) |
Derivative financial instruments | — |  | (10) |  | — |  | — |  | (10) |
Financial liabilities at fair value and amortized cost | — |  | (10) |  | (98) |  | (4,638) |  | (4,746) |
(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, 2032, 2049 and 2052 Notes recorded in Non-current financial debt with a fair value of $4,145 million and a carrying value of $4,541 million as of December 31, 2022. The fair value of notes was determined using Level 2 inputs. The notes were valued using the quoted market price for such notes, which have low trading volumes. Financial assets
|  | Long-term financial investments measured at FVOCI |  | Financial investments measured at FVPL
($ millions) |  | 2023 | 2022 |  | 2023 | 2022
Balance as of January 1 |  | 88 |  | 46 |  |  | 20 |  | 6 |
Additions |  | 53 |  | 19 |  |  | 8 |  | — |
Gains recognized in Consolidated Statement of Comprehensive Income |  | 2 |  | 1 |  |  | — |  | — |
Unrealized (losses) in Consolidated Income Statement |  | — |  | — |  |  | (4) |  | (1) |
Amortization |  | — |  | — |  |  | (1) |  | — |
Settlement |  | — |  | (1) |  |  | — |  | — |
Balance as of June 30 |  | 143 |  | 65 |  |  | 23 |  | 5 |
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, 2023 and December 31, 2022.
| June 30, 2023
($ millions) | Level 1 | Level 2 | Level 3 | Valued at amortized cost or cost(3) | Total
Non-current financial assets |  |  |  |  |
Long-term financial investments measured at FVOCI | — |  | — |  | 143 |  | — |  | 143 |
Long-term financial investments measured at FVPL | — |  | — |  | 22 |  | — |  | 22 |
Long-term note receivable and other financial assets measured at amortized cost | — |  | — |  | — |  | 154 |  | 154 |
Long-term receivables from customers | — |  | — |  | — |  | 122 |  | 122 |
Deferred compensation assets(1) | 153 |  | — |  | — |  | — |  | 153 |
Non-current minimum lease payments from finance lease agreements | — |  | — |  | — |  | 37 |  | 37 |
Long-term loans, VAT receivables, advances and security deposits | — |  | — |  | — |  | 35 |  | 35 |
Non-current financial assets | 153 |  | — |  | 165 |  | 348 |  | 666 |
Current financial assets |  |  |  |  |
Money market funds | 173 |  | — |  | — |  | — |  | 173 |
Current portion of long-term financial investments measured at FVPL(2) | — |  | — |  | 1 |  | — |  | 1 |
Current portion of long-term receivables from customers(2) | — |  | — |  | — |  | 112 |  | 112 |
Current portion of minimum lease payments from finance lease agreements(2) | — |  | — |  | — |  | 26 |  | 26 |
VAT receivables(2) | — |  | — |  | — |  | 82 |  | 82 |
Other receivables, security deposits and current assets(2) | — |  | — |  | — |  | 87 |  | 87 |
Derivative financial instruments(2) | — |  | 14 |  | — |  | — |  | 14 |
Current financial assets | 173 |  | 14 |  | 1 |  | 307 |  | 495 |
Financial assets at fair value and amortized cost or cost | 326 |  | 14 |  | 166 |  | 655 |  | 1,161 |
Financial liabilities |  |  |  |  |
Contingent consideration liabilities | — |  | — |  | (102) |  | — |  | (102) |
Non-current financial debt | — |  | — |  | — |  | (4,581) |  | (4,581) |
Current financial debt | — |  | — |  | — |  | (99) |  | (99) |
Derivative financial instruments | — |  | (1) |  | — |  | — |  | (1) |
Financial liabilities at fair value and amortized cost | — |  | (1) |  | (102) |  | (4,680) |  | (4,783) |
(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, 2032, 2049 and 2052 Notes recorded in Non-current financial debt with a fair value of $4,208 million and a carrying value of $4,554 million as of June 30, 2023. The fair value of notes was determined using Level 2 inputs. The notes were valued using the quoted market price for such notes, which have low trading volumes.
| December 31, 2022
($ millions) | Level 1 | Level 2 | Level 3 | Valued at amortized cost or cost(3) | Total
Non-current financial assets |  |  |  |  |
Long-term financial investments measured at FVOCI | — |  | — |  | 88 |  | — |  | 88 |
Long-term financial investments measured at FVPL | — |  | — |  | 20 |  | — |  | 20 |
Long-term receivables from customers | — |  | — |  | — |  | 119 |  | 119 |
Deferred compensation assets(1) | 139 |  | — |  | — |  | — |  | 139 |
Non-current minimum lease payments from finance lease agreements | — |  | — |  | — |  | 38 |  | 38 |
Long-term loans, advances and security deposits | — |  | — |  | — |  | 22 |  | 22 |
Non-current financial assets | 139 |  | — |  | 108 |  | 179 |  | 426 |
Current financial assets |  |  |  |  |
Money market funds | 229 |  | — |  | — |  | — |  | 229 |
Current portion of long-term receivables from customers(2) | — |  | — |  | — |  | 102 |  | 102 |
Current portion of minimum lease payments from finance lease agreements(2) | — |  | — |  | — |  | 25 |  | 25 |
VAT receivables(2) | — |  | — |  | — |  | 99 |  | 99 |
Other receivables, security deposits and current assets(2) | — |  | — |  | — |  | 77 |  | 77 |
Derivative financial instruments(2) | — |  | 8 |  | — |  | — |  | 8 |
Current financial assets | 229 |  | 8 |  | — |  | 303 |  | 540 |
Financial assets at fair value and amortized cost or cost | 368 |  | 8 |  | 108 |  | 482 |  | 966 |
Financial liabilities |  |  |  |  |
Contingent consideration liabilities | — |  | — |  | (98) |  | — |  | (98) |
Non-current financial debt | — |  | — |  | — |  | (4,541) |  | (4,541) |
Current financial debt | — |  | — |  | — |  | (97) |  | (97) |
Derivative financial instruments | — |  | (10) |  | — |  | — |  | (10) |
Financial liabilities at fair value and amortized cost | — |  | (10) |  | (98) |  | (4,638) |  | (4,746) |
(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, 2032, 2049 and 2052 Notes recorded in Non-current financial debt with a fair value of $4,145 million and a carrying value of $4,541 million as of December 31, 2022. The fair value of notes was determined using Level 2 inputs. The notes were valued using the quoted market price for such notes, which have low trading volumes. Financial liabilities
| Contingent consideration liabilities
($ millions) | 2023 | 2022
Balance as of January 1 | (98) |  | (112) |
Accretion for passage of time | (4) |  | (4) |
Adjustments for changes in assumptions | — |  | 7 |
Balance as of June 30 | (102) |  | (109) |

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