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Trade and other receivables
 12 Months Ended
Dec. 31, 2023
Text Block [Abstract]  
Trade and other receivables
17. Trade and other receivables
 
          
   2023
$m
           
   2022
$m
  
Current
    
 
 
 
     
 
 
 
Trade receivables
    
 
580
 
     
 
493
 
Other receivables
    
 
68
 
     
 
49
 
Prepayments
    
 
92
 
     
 
104
 
 
    
 
740
 
     
 
646
 
Non-current
    
 
 
 
     
 
 
 
Finance lease receivables
    
 
6
 
     
 
2
 
Other receivables
    
 
3
 
     
 
1
 
Prepayments
    
 
4
 
     
 
–
 
 
    
 
13
 
     
 
3
 
Expected credit losses
The ageing of trade receivables shown below reflects the initial terms under the invoice rather than the revised terms where payment flexibility has been provided to owners. The net balances presented in the table below could result in additional credit losses if they are ultimately found to be uncollectable. Expected credit losses relating to other receivables following their initial recognition are immaterial.
 
                          
2023
                           
2022
  
            
  Gross
$m
     
 Credit loss
allowance
$m
    
   Net
$m
            
  Gross
$m
     
 Credit loss
allowance
$m
    
       Net
$m
  
Not past due
      
 
354
 
   
 
(1
) 
  
 
353
 
      
 
307
 
   
 
(1
) 
  
 
306
 
Past due 1 to 30 days
      
 
88
 
   
 
(5
) 
  
 
83
 
      
 
76
 
   
 
(7
) 
  
 
69
 
Past due 31 to 90 days
      
 
69
 
   
 
(6
) 
  
 
63
 
      
 
57
 
   
 
(6
) 
  
 
51
 
Past due 91 to 180 days
      
 
51
 
   
 
(8
) 
  
 
43
 
      
 
46
 
   
 
(9
) 
  
 
37
 
Past due 181 to 360 days
      
 
38
 
   
 
(11
) 
  
 
27
 
      
 
34
 
   
 
(11
) 
  
 
23
 
Past due more than 361 days
      
 
86
 
   
 
(75
) 
  
 
11
 
      
 
90
 
   
 
(83
) 
  
 
7
 
 
      
 
686
 
   
 
(106
) 
  
 
580
 
      
 
610
 
   
 
(117
) 
  
 
493
 
 
 
 
 
 
Movement in the allowance for expected credit losses
        
   2023
$m
           
   2022
$m
  
At 1 January
    
 
(117
) 
     
 
(133
) 
Reclassification to other receivables
    
 
–
 
     
 
9
 
Impairment reversal/(loss)
    
 
1
 
     
 
(5
) 
System Fund impairment loss
    
 
–
 
     
 
(7
) 
Amounts written off
    
 
9
 
     
 
17
 
Exchange and other adjustments
    
 
1
 
     
 
2
 
At 31 December
    
 
(106
) 
     
 
(117
) 
If the regional provision matrix was applied to all owner groups (rather than by reference to other sources of data), the provision would reduce by $13m (2022: $15m).
Credit risk
The Group trades only with recognised, creditworthy third parties. It is the Group’s policy that all customers who wish to trade on credit terms are subject to credit verification procedures. The maximum exposure to credit risk for trade and other receivables, excluding prepayments, at the end of the reporting period by geographic region is as follows:
 
          
   2023 
$m 
           
   2022 
$m 
  
Americas
    
 
359 
 
     
 
321 
 
EMEAA
    
 
199 
 
     
 
152 
 
Greater China
    
 
99 
 
     
 
72 
 
 
    
 
657 
 
     
 
545