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Financial instruments - additional disclosures (Tables)
 12 Months Ended
Dec. 31, 2023
Financial Instruments [Abstract]  
Disclosure of financial assets
Financial assets
($ millions)20232022
Long-term note receivable and other financial assets measured at amortized cost161 — 
Long-term financial investments measured at FVOCI(1)
147 88 
Long-term financial investments measured at FVPL1 20 
Long-term receivables from customers126 119 
Non-current minimum lease payments from finance lease agreements38 38 
Long-term loans, VAT receivables, advances and security deposits44 22 
Total financial assets517 287 
(1) Includes $11 million of Long-term convertible notes due from an associated company as of December 31, 2023. Refer to Note 24 for additional information.
The below table provides detail related to financial instruments as of December 31, 2023 and December 31, 2022.
($ millions)Note20232022
Cash and cash equivalents
Cash in current accounts270 281 
Cash held in time deposits and money market funds824 699 
Total cash and cash equivalents1,094 980 
Financial assets - measured at fair value through other comprehensive income ("FVOCI")
Long-term financial investments11147 88 
Total financial assets - measured at FVOCI147 88 
Financial assets - measured at amortized cost(1)
Trade receivables131,770 1,673 
Income tax receivables34 13 
Other current assets (excluding prepaid expenses and other current assets measured at FVPL)14306 303 
Long-term note receivable and other financial assets11161 — 
Long-term receivables from customers11126 119 
Non-current minimum lease payments from finance lease agreements1138 38 
Long-term loans, VAT receivables, advances and security deposits1144 22 
Total financial assets - measured at amortized cost2,479 2,168 
Financial assets - measured at fair value through profit and loss ("FVPL")
Deferred compensation assets11163 139 
Current portion of long-term financial investments147 — 
Derivative financial instruments142 8 
Long-term financial investments111 20 
Total financial assets - measured at FVPL173 167 
Total financial assets3,893 3,403 
Financial liabilities - measured at amortized cost or cost(1)
Current financial liabilities
Financial debts16135 97 
Lease liabilities1571 71 
Trade payables811 861 
Total current financial liabilities - measured at amortized cost or cost1,017 1,029 
Non-current financial liabilities
Financial debts164,594 4,541 
Lease liabilities15335 359 
Total non-current financial liabilities - measured at amortized cost or cost4,929 4,900 
Total financial liabilities - measured at amortized cost or cost5,946 5,929 
Financial liabilities - measured at FVPL
Contingent consideration liabilities1890 98 
Derivative financial instruments1610 10 
Total financial liabilities - measured at FVPL100 108 
Total financial liabilities6,046 6,037 
Net financial assets and financial liabilities(2,153)(2,634)
(1) 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 debts with a fair value of $4,347 million and carrying value of $4,566 million as of December 31, 2023 and a fair value of $4,145 million and carrying value of $4,541 million as of December 31, 2022. The fair value of notes was determined using Level 2 inputs. The notes were valued using a quoted market price for such notes, which have low trading volumes.
Disclosure of financial liabilities
The below table provides detail related to financial instruments as of December 31, 2023 and December 31, 2022.
($ millions)Note20232022
Cash and cash equivalents
Cash in current accounts270 281 
Cash held in time deposits and money market funds824 699 
Total cash and cash equivalents1,094 980 
Financial assets - measured at fair value through other comprehensive income ("FVOCI")
Long-term financial investments11147 88 
Total financial assets - measured at FVOCI147 88 
Financial assets - measured at amortized cost(1)
Trade receivables131,770 1,673 
Income tax receivables34 13 
Other current assets (excluding prepaid expenses and other current assets measured at FVPL)14306 303 
Long-term note receivable and other financial assets11161 — 
Long-term receivables from customers11126 119 
Non-current minimum lease payments from finance lease agreements1138 38 
Long-term loans, VAT receivables, advances and security deposits1144 22 
Total financial assets - measured at amortized cost2,479 2,168 
Financial assets - measured at fair value through profit and loss ("FVPL")
Deferred compensation assets11163 139 
Current portion of long-term financial investments147 — 
Derivative financial instruments142 8 
Long-term financial investments111 20 
Total financial assets - measured at FVPL173 167 
Total financial assets3,893 3,403 
Financial liabilities - measured at amortized cost or cost(1)
Current financial liabilities
Financial debts16135 97 
Lease liabilities1571 71 
Trade payables811 861 
Total current financial liabilities - measured at amortized cost or cost1,017 1,029 
Non-current financial liabilities
Financial debts164,594 4,541 
Lease liabilities15335 359 
Total non-current financial liabilities - measured at amortized cost or cost4,929 4,900 
Total financial liabilities - measured at amortized cost or cost5,946 5,929 
Financial liabilities - measured at FVPL
Contingent consideration liabilities1890 98 
Derivative financial instruments1610 10 
Total financial liabilities - measured at FVPL100 108 
Total financial liabilities6,046 6,037 
Net financial assets and financial liabilities(2,153)(2,634)
(1) 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 debts with a fair value of $4,347 million and carrying value of $4,566 million as of December 31, 2023 and a fair value of $4,145 million and 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 a quoted market price for such notes, which have low trading volumes.
Disclosure of fair value measurement of assets
The following tables summarize financial assets and liabilities measured at fair value on a recurring basis or at amortized cost or cost as of December 31, 2023 and December 31, 2022.
 
December 31, 2023
($ millions)Level 1Level 2Level 3Valued at amortized cost or costTotal
Non-current financial assets
Long-term financial investments measured at FVOCI
— — 147 — 147 
Long-term financial investments measured at FVPL— — 1 — 1 
Long-term note receivable and other financial assets measured at amortized cost— — — 161 161 
Long-term receivables from customers— — — 126 126 
Deferred compensation assets(1)
163 — — — 163 
Non-current minimum lease payments from finance lease agreements— — — 38 38 
Long-term loans, VAT receivables, advances and security deposits— — — 44 44 
Non-current financial assets163 — 148 369 680 
Current financial assets
Money market funds84 — — — 84 
Current portion of long-term financial investments measured at FVPL(2)
— — 7 — 7 
Current portion of long-term receivables from customers(2)
— — — 116 116 
Current portion of minimum lease payments from finance lease agreements(2)
— — — 27 27 
VAT receivables(2)
— — — 62 62 
Other receivables, security deposits and current assets(2)
— — — 101 101 
Derivative financial instruments(2)
— 2 — — 2 
Current financial assets84 2 7 306 399 
Financial assets at fair value and amortized cost or cost247 2 155 675 1,079 
Financial liabilities
Contingent consideration liabilities— — (90)— (90)
Non-current financial debt— — — (4,594)(4,594)
Current financial debt— — — (135)(135)
Derivative financial instruments— (10)— — (10)
Financial liabilities at fair value and amortized cost— (10)(90)(4,729)(4,829)

(1)Recorded in Other non-current assets.
(2)Recorded in Other current assets.
December 31, 2022
($ millions)Level 1Level 2Level 3Valued at amortized cost or costTotal
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 assets139 — 108 179 426 
Current financial assets
Money market funds229 — — — 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 assets229 8 — 303 540 
Financial assets at fair value and amortized cost or cost368 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.
Long-term financial investments measured
at FVOCI
Financial investments
measured at FVPL
($ millions)2023202220232022
Balance as of January 188 46 20 6 
Additions67 45 13 — 
(Losses) recognized in Consolidated Statement of Comprehensive Income(2)(2)— — 
(Losses)/gains in Consolidated Income Statement— — (5)14 
Amortization— — (5)— 
Settlement(6)(1)(15)— 
Balance as of December 31147 88 8 20 
Disclosure of fair value measurement of liabilities
The following tables summarize financial assets and liabilities measured at fair value on a recurring basis or at amortized cost or cost as of December 31, 2023 and December 31, 2022.
 
December 31, 2023
($ millions)Level 1Level 2Level 3Valued at amortized cost or costTotal
Non-current financial assets
Long-term financial investments measured at FVOCI
— — 147 — 147 
Long-term financial investments measured at FVPL— — 1 — 1 
Long-term note receivable and other financial assets measured at amortized cost— — — 161 161 
Long-term receivables from customers— — — 126 126 
Deferred compensation assets(1)
163 — — — 163 
Non-current minimum lease payments from finance lease agreements— — — 38 38 
Long-term loans, VAT receivables, advances and security deposits— — — 44 44 
Non-current financial assets163 — 148 369 680 
Current financial assets
Money market funds84 — — — 84 
Current portion of long-term financial investments measured at FVPL(2)
— — 7 — 7 
Current portion of long-term receivables from customers(2)
— — — 116 116 
Current portion of minimum lease payments from finance lease agreements(2)
— — — 27 27 
VAT receivables(2)
— — — 62 62 
Other receivables, security deposits and current assets(2)
— — — 101 101 
Derivative financial instruments(2)
— 2 — — 2 
Current financial assets84 2 7 306 399 
Financial assets at fair value and amortized cost or cost247 2 155 675 1,079 
Financial liabilities
Contingent consideration liabilities— — (90)— (90)
Non-current financial debt— — — (4,594)(4,594)
Current financial debt— — — (135)(135)
Derivative financial instruments— (10)— — (10)
Financial liabilities at fair value and amortized cost— (10)(90)(4,729)(4,829)

(1)Recorded in Other non-current assets.
(2)Recorded in Other current assets.
December 31, 2022
($ millions)Level 1Level 2Level 3Valued at amortized cost or costTotal
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 assets139 — 108 179 426 
Current financial assets
Money market funds229 — — — 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 assets229 8 — 303 540 
Financial assets at fair value and amortized cost or cost368 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.
Contingent consideration liabilities
($ millions)20232022
Balance as of January 1(98)(112)
Accretion for passage of time(9)(9)
Adjustments for changes in assumptions17 23 
Balance as of December 31(90)(98)