Assets held for sale and discontinued operations (Tables)

12 Months Ended

Dec. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

The major classes of assets and liabilities classified as held for sale at December 31, 2023 were:

in $ millions	2023
Assets
Cash and cash equivalents	49
Accounts receivable, net	70
Inventories	102
Property, plant and equipment, net	832
Goodwill	201
Operating lease right-of-use assets, net	6
Other assets	8
Assets held for sale	1,268
Liabilities
Accounts payable	59
Accrued expenses	17
Deferred income tax liabilities	148
Operating lease liabilities	6
Other liabilities	145
Liabilities held for sale	375

The financial results for the Company’s discontinued operations for the years ended December 31 were:

in $ millions	2022	2021
Total revenues	645	1,775
Operating income	89	239
Gain on divestiture before income taxes	1,471	-
Income from discontinued operations before income tax expense	1,560	239
Income tax expense	(370)	(60)
Income from discontinued operations, net of income tax expense	1,190	179

The cash flows from discontinued operations included in the accompanying Consolidated Statements of Cash Flows for the years ended December 31 were:

in $ millions	2022	2021
Cash flows from discontinued operations
Net cash (used in) provided by operating activities (i)	(444)	208
Net cash provided by (used in) investing activities (ii)	3,446	(102)
Net cash provided by (used in) financing activities	3	(2)

(i)     Includes the corporation tax paid on the sale of discontinued operations.

(ii) Includes the proceeds from the divestiture of discontinued operations.