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Financial income and expenses
 12 Months Ended
Dec. 31, 2024
Disclosure [Abstract]  
Financial income and expenses
7. Financial income and expenses
 
        
    2024
$m
             2023
$m		               2022
$m		  
Financial income
                              
Financial
income
on deposits and money market funds		    
48
      33         17  
Interest income on loans and other assets    
15
      6         5  
     
63
      39         22  
                               
Financial expenses
                              
Interest expense on external borrowings    
131
      85         92  
Interest expense on lease liabilities    
30
      29         29  
Unwind of discount on deferred purchase consideration    
–
      1         –  
Foreign exchange losses/(gains)    
25
      (35 )        (10 ) 
Other charges    
17
      11         7  
     
203
      91         118  
Financial income comprises $47m (2023: $24m, 2022: $12m) relating to financial assets held at amortised cost and $16m (2023: $15m, 2022: $10m) relating to financial assets held at FVTPL.
Interest expense on external borrowings and unwind of discount on deferred purchase consideration relate to financial liabilities which are held at amortised cost. Other charges includes bank charges and
non-bank
interest expense.
In 2024, $49m (2023: $43m, 2022: $15m) was payable to the System Fund in relation to interest accumulated on the balance of cash received in advance of the consumption of points awarded through the IHG One Rewards loyalty programme. The expense and corresponding System Fund interest income are eliminated within financial expenses. On a net basis, financial income and expenses includes $1m (2023: $1m, 2022: $1m) of other interest which is also attributable to the System Fund.
 
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Net interest payable as calculated for bank covenants can be found on page 
238.