Investment in associates and joint ventures (Tables)

12 Months Ended

Dec. 31, 2018

Investment in Associates and Joint Ventures


	Associates $m			Joint ventures $m			Total $m
Cost
At 1 January 2017		113			26			139
Additions		47			—			47
Share of profits/(losses)		2			1			3
Disposals		(9	)		—			(9	)
Distributions		(4	)		—			(4	)
Exchange and other adjustments		2			—			2

At 31 December 2017		151			27			178
Additions		3			—			3
Share of profits/(losses)		(6	)		5			(1	)
Distributions		(5	)		(32	)		(37	)
Exchange		(3	)		—			(3	)

At 31 December 2018		140			0			140

Impairment
At 1 January 2017		(28	)		—			(28	)
Charge for the year		(18	)		—			(18	)

Disposals		9			—			9
At 31 December 2017		(37	)		—			(37	)
Exchange		1			—			1

At 31 December 2018		(36	)		0			(36	)

Net book value
At 31 December 2018		104			0			104
At 31 December 2017		114			27			141
At 1 January 2017		85			26			111

Summarised Aggregated Financial Information for Individually Immaterial Associates and Joint Ventures

The summarised aggregated financial information for individually immaterial associates and joint ventures is set out below. These are mainly investments in entities that own hotels which the Group manages.

Associates

Joint ventures

Total

2018
$m

2017
$m

2016
$m

2018
$m

2017
$m

2016
$m

2018
$m

2017
$m

2016
$m

Share of profits/(losses)

Operating profits before exceptional items

Barclay associate [member]

Statement [LineItems]

Summary of Financial Information of Material Associate Investment

Summarised financial information in respect of the Barclay associate is set out below:


	31 December 2018 $m			31 December 2017 $m
Non-current assets		529			540
Current assets		70			41
Current liabilities		(17	)		(19	)
Non-current liabilities		(319	)		(287	)

Net assets		263			275

Group share of reported net assets at 19.9%		52			55
Adjustments to reflect capitalised costs, and additional rights and obligations under the shareholder agreement		7			10

Carrying amount		59			65


	12 months to 31 December 2018 $m			12 months to 31 December 2017 $m
Revenue		103			90
Loss for the period		(13	)		(16	)
Group’s share of loss for the period, including the cost of funding owner returns		(8	)		(4	)