v3.25.2
Trade and other receivables
12 Months Ended
Dec. 31, 2024
Subclassifications of assets, liabilities and equities [abstract]  
Trade and Other Receivables Trade and other receivables
$ million
Dec 31, 2024Dec 31, 2023
CurrentNon-currentCurrentNon-current
Trade receivables31,04136,273
Lease receivables1898751881,032
Other receivables8,0143,5289,6422,801
Amounts due from joint ventures and associates9031521,014278
Prepayments and deferred charges5,7131,4636,1562,187
Total45,8606,01853,2736,298
The fair value of financial assets included above approximates the carrying amount and was determined from predominantly unobservable inputs.
Other receivables at December 31, 2024, included current indirect tax receivables of $1.5 billion (2023: $1.5 billion), government subsidies of $795 million (2023:$484 million), non-current income tax receivables of $680 million (2023: $568 million) and current income tax receivables of $391 million (2023: $558 million).
Provisions for impairments deducted from trade and other receivables amounted to $1,253 million at December 31, 2024 (2023: $1,251 million).
Allowance for expected credit losses -- trade receivables
Shell uses a provision matrix to calculate expected credit losses (ECLs) for trade receivables. The provision matrix is initially based on Shell's historical observed default rates. Shell calculates the ECL to adjust the historical credit loss experienced with forward-looking information.
The ECL at December 31, 2024, was $113 million (2023: $185 million), which represents 0.36-0.51% (2023: 0.51-0.54%) of all trade receivables.
A loss allowance provision of $414 million (2023: $415 million) was established in addition to all other impairments to trade receivables
as at December 31, 2024, that are outside of the provision matrix calculations.
Lease receivables
Lease contracts where Shell is the lessor are classified as finance leases or operating leases. Receivables for lease contracts classified as finance leases are as follows:
$ million
Dec 31, 2024Dec 31, 2023
Less than one year234238
Between 1 and 5 years732848
5 years and later316453
Total undiscounted lease payments receivable1,2821,539
Unearned finance income218260
Net investment in leases1,0641,279
In addition, at December 31, 2024, Shell is entitled to future contractual payments under operating leases of $277 million (2023: $312 million).