Acquisitions (Tables)

6 Months Ended

Jun. 30, 2025

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

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The provisional amounts for assets acquired, liabilities assumed, and consideration related to the acquisitions at June 30, 2025, including adjustments to provisional fair values in respect of acquisitions completed in the previous twelve months, were:


in $ millions			Total (i)
Identifiable assets acquired and liabilities assumed
Assets
Cash and cash equivalents			6
Accounts receivable, net			46
Inventories			26
Other current assets			5
Property, plant and equipment, net			274
Equity method investments			(48)
Intangible assets, net			37
Operating lease right-of-use assets, net			19
Total assets			365
Liabilities
Accounts payable			31
Accrued expenses			2
Operating lease liabilities			20


Deferred income tax liabilities			(9)
Other liabilities			34
Total liabilities			78
Total identifiable net assets at fair value			287
Goodwill			371

Total consideration			658

Consideration satisfied by:
Cash payments			654

Deferred consideration (stated at net present cost)			4

Total consideration			658

Acquisitions of businesses, net of cash acquired
Cash consideration			654
Less: cash and cash equivalents acquired			(6)
Total outflow in the Condensed Consolidated Statements of Cash Flows			648

(i) Acquisitions are aggregated on the basis of individual immateriality. The acquisition balance sheet presented in this note reflects the identifiable net assets acquired in respect of acquisitions completed in the six months to 30 June 2025, together with adjustments to provisional fair values in respect of acquisitions completed during the previous twelve months; none of which were material.

Schedule of Acquisition-Related Costs

The Company incurred the following acquisition-related costs:


	Three months ended		Six months ended
	June 30		June 30
in $ millions	2025	2024	2025	2024
Acquisition-related costs
Substantial acquisition-related (i)	–	2	–	22
Other acquisitions	10	2	15	2
Total acquisition-related costs	10	4	15	24

(i) Represents expenses associated with the non-routine substantial acquisition of a portfolio of cement and readymixed concrete operations and assets in Texas, during the first quarter of 2024.