Acquisitions (Tables)

12 Months Ended

Dec. 31, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Identifiable Assets Acquired, Liabilities Assumed, and Consideration

The amounts for assets acquired, liabilities assumed, and consideration related to the acquisitions during the year ended December 31, 2024, were:

in $ millions	Hunter	Adbri (i)	Other acquisitions (i) (ii)	Total
Identifiable assets acquired and liabilities assumed
Assets
Cash and cash equivalents	–	15	38	53
Accounts receivable, net	–	156	152	308
Inventories	70	133	149	352
Other current assets	2	6	8	16
Property, plant and equipment, net	1,069	1,364	850	3,283
Equity method investments	–	366	–	366
Intangible assets, net	2	4	184	190
Operating lease right-of-use assets, net	12	18	85	115
Total assets	1,155	2,062	1,466	4,683
Liabilities
Accounts payable	–	17	54	71
Accrued expenses	6	67	30	103
Operating lease liabilities	12	18	85	115
Long-term debt	–	519	9	528
Deferred income tax liabilities	–	208	27	235
Other liabilities	8	151	57	216
Total liabilities	26	980	262	1,268
Total identifiable net assets at fair value	1,129	1,082	1,204	3,415
Goodwill	977	227	940	2,144
Redeemable noncontrolling interests	–	–	(12)	(12)
Noncontrolling interests	–	(507)	–	(507)
Total consideration	2,106	802	2,132	5,040
Consideration satisfied by:
Cash payments	2,106	802	2,045	4,953
Asset exchange	–	–	41	41
Deferred consideration (stated at net present cost)	–	–	27	27
Contingent consideration	–	–	19	19
Total consideration	2,106	802	2,132	5,040
Acquisitions of businesses, net of cash acquired
Cash consideration	2,106	802	2,045	4,953
Less: cash and cash equivalents acquired	–	(15)	(38)	(53)
Total outflow in the Consolidated Statements of Cash Flows	2,106	787	2,007	4,900

(i)    The estimated fair values of assets acquired and liabilities assumed associated with these acquisitions are provisional (principally in respect of Property, plant and equipment, net, provisions for liabilities and the associated goodwill and deferred tax aspects) and are based on the information that was available as of the reporting date. The Company expects to finalize the valuation and complete the purchase price allocations as soon as practical but no later than one year from the acquisition dates.

(ii)    Other acquisitions are aggregated on the basis of individual immateriality.

The identifiable assets acquired, liabilities assumed, and consideration related to the acquisitions during the year ended December 31, 2023, were:

in $ millions	Total (i)
Identifiable assets acquired and liabilities assumed
Cash and cash equivalents	19
Accounts receivable, net	71
Inventories	65
Other current assets	8
Property, plant and equipment, net	252
Intangible assets, net	86
Operating lease right-of-use assets, net	35
Accounts payable	56
Accrued expenses	30
Operating lease liabilities	35
Long-term debt	104
Deferred income tax liabilities	30
Other liabilities	6
Total identifiable net assets at fair value	275
Goodwill	398
Total consideration	673
Consideration satisfied by:
Cash payments	659
Deferred consideration (stated at net present cost)	8
Contingent consideration	6
Total consideration	673
Acquisitions of businesses, net of cash acquired
Cash consideration	659
Less: cash and cash equivalents acquired	(19)
Total outflow in the Consolidated Statements of Cash Flows	640

(i)     Total acquisitions are aggregated on the basis of individual immateriality.

The identifiable assets acquired, liabilities assumed, and consideration related to the acquisitions during the year ended December 31, 2022, were:

in $ millions	Barrette	Other acquisitions (i)	Total
Identifiable assets acquired and liabilities assumed
Cash and cash equivalents	8	14	22
Accounts receivable, net	128	49	177
Inventories	247	128	375
Other current assets	40	10	50
Property, plant and equipment, net	266	539	805
Equity method investments	–	28	28
Intangible assets, net	809	178	987
Operating lease right-of-use assets, net	43	59	102
Accounts payable	26	20	46
Accrued expenses	121	27	148
Operating lease liabilities	43	59	102
Long-term debt	–	8	8
Deferred income tax liabilities	192	55	247
Other liabilities	22	4	26
Total identifiable net assets at fair value	1,137	832	1,969
Goodwill	774	546	1,320
Total consideration	1,911	1,378	3,289
Consideration satisfied by:
Cash payments	1,911	1,364	3,275
Deferred consideration (stated at net present cost)	–	10	10
Contingent consideration	–	4	4
Total consideration	1,911	1,378	3,289
Acquisitions of businesses, net of cash acquired
Cash consideration	1,911	1,364	3,275
Less: cash and cash equivalents acquired	(8)	(14)	(22)
Total outflow in the Consolidated Statements of Cash Flows	1,903	1,350	3,253

(i)     Other acquisitions are aggregated on the basis of individual immateriality.

Schedule of Acquisition-Related Costs

The Company incurred the following acquisition-related costs for the years ended December 31, 2024, 2023, and 2022:

in $ millions	2024	2023	2022
Acquisition-related costs
Hunter	23	–	–
Adbri	23	–	–
Barrette	–	–	27
Other acquisitions	27	10	12
Total acquisition-related costs	73	10	39