Property, plant and equipment (Tables)

12 Months Ended

Dec. 31, 2023

Text block [abstract]

Summary of Property, Plant and Equipment Owned and Leased Assets

Property, plant and equipment comprises owned and leased assets, as follows:

Million US dollar	31 December 2023		31 December 2022
Property, plant and equipment owned		24 092		24 245
Property, plant and equipment leased (right-of-use assets)		2 726		2 426
Total property, plant and equipment		26 818		26 671

Summary of Property, Plant and Equipment

	31 December 2023								31 December 2022
Million US dollar	Land and buildings		Plant and equipment, fixtures and fittings		Under construction		Total		Total
Acquisition cost
Balance at end of previous year		12 591		37 473		2 205		52 269		50 742
Effect of movements in foreign exchange		259		754		27		1 039		(983)
Acquisitions		38		1 361		2 490		3 890		4 279
Disposals through sale and derecognition		(55)		(1 607)		(3)		(1 665)		(1 822)
Disposals through the sale of subsidiaries		-		-		-		-		(13)
Transfer (to)/from other asset categories and other movements¹		237		1 802		(3 050)		(1 011)		66
Balance at end of the period		13 071		39 783		1 669		54 522		52 269
Depreciation and impairment losses
Balance at end of previous year		(4 584)		(23 440)		-		(28 024)		(26 284)
Effect of movements in foreign exchange		(86)		(508)		-		(594)		507
Depreciation		(397)		(3 176)		-		(3 573)		(3 530)
Disposals through sale and derecognition		33		1 500		-		1 533		1 631
Disposals through the sale of subsidiaries		-		-		-		-		8
Impairment losses		(8)		(173)		-		(181)		(172)
Transfer to/(from) other asset categories and other movements¹		24		384		-		409		(186)
Balance at end of the period		(5 017)		(25 414)		-		(30 430)		(28 024)
Carrying amount
at 31 December 2022		8 007		14 033		2 205		24 245		24 245
at 31 December 2023		8 054		14 370		1 669		24 092		-

1 The transfer (to)/from other asset categories and other movements relates mainly to transfers from assets under construction to their respective asset categories, to contributions of assets to pension plans, to the separate presentation in the statement of financial position of property, plant and equipment held for sale in accordance with IFRS 5 Non-current assets held for sale and discontinued operations and to the restatement of non-monetary assets under hyperinflation accounting in line with IAS 29 Financial reporting in hyperinflationary economies.

Summary of Property, Plant and Equipment Leased (right- of- use assets)

Property, plant and equipment leased by the company (right-of-use assets) is detailed as follows:

	31 December 2023
Million US dollar	Land and buildings			Machinery,  equipment and other			Total
Net carrying amount at 31 December		1 753			973			2 726
Depreciation for the year ended 31 December		(446	)		(360	)		(806	)

	31 December 2022
Million US dollar	Land and buildings			Machinery,  equipment and other			Total
Net carrying amount at 31 December		1 640			786			2 426
Depreciation for the year ended 31 December		(399	)		(230	)		(629	)