Fixed Assets (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

The following table reflects changes in the net carrying amount of the components of fixed assets for the years ended December 31, 2023 and 2022:

	Furniture, equipment and software			Leasehold improvements			Land and buildings			Total
Cost: at January 1, 2022	$	1,477		$	527		$	88		$	2,092
Additions		174			24			—			198
Acquisitions		1			—			—			1
Disposals (i)		(129	)		(78	)		—			(207	)
Foreign exchange		(71	)		(21	)		(5	)		(97	)
Cost: at December 31, 2022		1,452			452			83			1,987
Additions		219			32			—			251
Disposals (i)		(182	)		(34	)		—			(216	)
Foreign exchange		38			9			2			49
Cost: at December 31, 2023	$	1,527		$	459		$	85		$	2,071
Depreciation: at January 1, 2022	$	(877	)	$	(301	)	$	(63	)	$	(1,241	)
Depreciation expense		(211	)		(40	)		(4	)		(255	)
Disposals		113			57			—			170
Foreign exchange		42			12			3			57
Depreciation: at December 31, 2022		(933	)		(272	)		(64	)		(1,269	)
Depreciation expense		(202	)		(37	)		(3	)		(242	)
Disposals		164			25			—			189
Foreign exchange		(23	)		(5	)		(1	)		(29	)
Depreciation: at December 31, 2023	$	(994	)	$	(289	)	$	(68	)	$	(1,351	)
Net book value:
At December 31, 2022	$	519		$	180		$	19		$	718
At December 31, 2023	$	533		$	170		$	17		$	720

(i)For 2023 and 2022, includes $17 million and $12 million, respectively, of furniture, equipment and software costs and $4 million and $18 million, respectively, of leasehold improvements costs which have been written off as part of technology modernization and real estate rationalization, respectively, under the Transformation program (see Note 6 – Restructuring Costs).

Finance Leases

Included within land and buildings are the following assets held under finance leases:

	December 31,
	2023			2022
Finance leases	$	26		$	26
Accumulated depreciation		(23	)		(22	)
	$	3		$	4