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v3.23.1

Deferred tax assets and liabilities (Tables) | 12 Months Ended
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Dec. 31, 2022
Disclosure of Deferred Tax Assets and Liabilities [abstract] |
Schedule of Deferred Tax Assets and Liabilities |
(USD millions) |  | Property, plant and equipment |  | Intangible assets |  | Pensions and other benefit obligations of employees |  | Inventories |  | Tax loss carry- forwards |  | Other assets, provisions and accruals |  | Total |
Gross deferred tax assets at January 1, 2022 |  | 125 |  | 1 307 |  | 1 026 |  | 2 273 |  | 374 |  | 2 727 |  | 7 832 |
Gross deferred tax liabilities at January 1, 2022 |  | -381 |  | -4 704 |  | -591 |  | -148 |  |  |  | -1 335 |  | -7 159 |
Net deferred tax balance at January 1, 2022 |  | -256 |  | -3 397 |  | 435 |  | 2 125 |  | 374 |  | 1 392 |  | 673 |
At January 1, 2022 |  | -256 |  | -3 397 |  | 435 |  | 2 125 |  | 374 |  | 1 392 |  | 673 |
Credited/(charged) to income |  | 69 |  | 628 |  | -5 |  | -43 |  | 5 |  | 1 |  | 655 |
Charged to equity |  |  |  |  |  |  |  |  |  |  |  | 1 |  | 1 |
Credited/(charged) to other comprehensive income |  | -2 |  |  |  | -104 |  |  |  |  |  | 63 |  | -43 |
Impact of acquisitions of businesses |  |  |  | -300 |  |  |  |  |  | 55 |  | 1 |  | -244 |
Other movements |  | 4 |  | 10 |  | -7 |  | -6 |  | -9 |  | 19 |  | 11 |
Net deferred tax balance at December 31, 2022 |  | -185 |  | -3 059 |  | 319 |  | 2 076 |  | 425 |  | 1 477 |  | 1 053 |
Gross deferred tax assets at December 31, 2022 |  | 158 |  | 1 726 |  | 739 |  | 2 214 |  | 425 |  | 2 789 |  | 8 051 |
Gross deferred tax liabilities at December 31, 2022 |  | -343 |  | -4 785 |  | -420 |  | -138 |  |  |  | -1 312 |  | -6 998 |
Net deferred tax balance at December 31, 2022 |  | -185 |  | -3 059 |  | 319 |  | 2 076 |  | 425 |  | 1 477 |  | 1 053 |
After offsetting the following amount of deferred tax assets and liabilities within the same tax jurisdiction, the balance amounts to: |  |  |  |  |  |  |  |  |  |  |  |  |  | 4 312 |
Deferred tax assets at December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  | 3 739 |
Deferred tax liabilities at December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  | -2 686 |
Net deferred tax balance at December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  | 1 053 |
Gross deferred tax assets at January 1, 2021 |  | 189 |  | 1 351 |  | 1 137 |  | 2 502 |  | 507 |  | 2 658 |  | 8 344 |
Gross deferred tax liabilities at January 1, 2021 |  | -430 |  | -5 269 |  | -340 |  | -159 |  | -10 |  | -1 344 |  | -7 552 |
Net deferred tax balance at January 1, 2021 |  | -241 |  | -3 918 |  | 797 |  | 2 343 |  | 497 |  | 1 314 |  | 792 |
At January 1, 2021 |  | -241 |  | -3 918 |  | 797 |  | 2 343 |  | 497 |  | 1 314 |  | 792 |
Credited/(charged) to income |  | -27 |  | 567 |  | -22 |  | -215 |  | -121 |  | 127 |  | 309 |
Charged to equity |  |  |  |  |  |  |  |  |  |  |  | -35 |  | -35 |
Credited/(charged) to other comprehensive income |  |  |  |  |  | -323 |  |  |  |  |  | 6 |  | -317 |
Impact of acquisitions of businesses |  |  |  | -58 |  |  |  |  |  | 12 |  |  |  | -46 |
Other movements |  | 12 |  | 12 |  | -17 |  | -3 |  | -14 |  | -20 |  | -30 |
Net deferred tax balance at December 31, 2021 |  | -256 |  | -3 397 |  | 435 |  | 2 125 |  | 374 |  | 1 392 |  | 673 |
Gross deferred tax assets at December 31, 2021 |  | 125 |  | 1 307 |  | 1 026 |  | 2 273 |  | 374 |  | 2 727 |  | 7 832 |
Gross deferred tax liabilities at December 31, 2021 |  | -381 |  | -4 704 |  | -591 |  | -148 |  |  |  | -1 335 |  | -7 159 |
Net deferred tax balance at December 31, 2021 |  | -256 |  | -3 397 |  | 435 |  | 2 125 |  | 374 |  | 1 392 |  | 673 |
After offsetting the following amount of deferred tax assets and liabilities within the same tax jurisdiction, the balance amounts to: |  |  |  |  |  |  |  |  |  |  |  |  |  | 4 089 |
Deferred tax assets at December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  | 3 743 |
Deferred tax liabilities at December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  | -3 070 |
Net deferred tax balance at December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  | 673 |
Deferred tax liabilities have not been recognized for the withholding tax and other taxes that would be payable on the remittance of earnings of foreign subsidiaries, insofar as the Group has the ability to control any future reversal and the unremitted earnings are retained in the foreign subsidiaries for reinvestment. The total unremitted earnings retained for reinvestment in the Group’s foreign subsidiaries that would be subject to withholding tax or other taxes if remitted to the Group are estimated at approximately USD 32 billion in 2022, (2021: USD 29 billion). The gross value of tax-loss carry-forwards that have or have not been recognized as deferred tax assets, with their expiry dates, is as follows:
Gross value of tax-loss carry-forwards |
(USD millions) |  | Unrecognized |  | Recognized |  | 2022 total |
One year |  | 18 |  | 0 |  | 18 |
Two years |  | 37 |  | 5 |  | 42 |
Three years |  | 25 |  | 5 |  | 30 |
Four years |  | 138 |  | 0 |  | 138 |
Five years |  | 79 |  | 688 |  | 767 |
More than five years |  | 3 880 |  | 2 380 |  | 6 260 |
Not subject to expiry |  | 433 |  | 452 |  | 885 |
Total |  | 4 610 |  | 3 530 |  | 8 140 |
(USD millions) |  | Unrecognized |  | Rcognized |  | 2021 total |
One year |  | 15 |  | 4 |  | 19 |
Two years |  | 14 |  | 6 |  | 20 |
Three years |  | 37 |  | 10 |  | 47 |
Four years |  | 26 |  | 11 |  | 37 |
Five years |  | 146 |  | 20 |  | 166 |
More than five years |  | 3 536 |  | 1 872 |  | 5 408 |
Not subject to expiry |  | 418 |  | 684 |  | 1 102 |
Total |  | 4 192 |  | 2 607 |  | 6 799 |
(USD millions) |  | 2022 |  | 2021 |  | 2020 |
Tax losses carried forward that expired |  | 6 |  | 18 |  | 14 |
Deferred tax assets related to carry-forwards of taxable losses and tax credits of relevant Group entities are recognized to the extent it is considered probable that future taxable profits will be available in the respective tax jurisdictions against which such losses and credits can be utilized.

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- Definition The disclosure of types of temporary differences, unused tax losses and unused tax credits. [Refer: Unused tax credits [member]; Unused tax losses [member]; Temporary differences [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 12 -IssueDate 2022-03-24 -Paragraph 81 -Subparagraph g -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=12&code=ifrs-tx-2022-en-r&anchor=para_81_g&doctype=Standard -URIDate 2022-03-24 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References No definition available. + Details
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