|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
2024 |
|
|
2023 |
|
| |
|
|
|
|
US$M |
|
|
US$M |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense using the effective interest rate method: |
|
|
|
|
|
|
|
|
|
|
|
|
Interest on bank loans, overdrafts and all other borrowings |
|
|
|
|
|
|
1,467 |
|
|
|
997 |
|
Interest capitalised at 5.97% (2024: 6.82%; 2023: 5.71%) 1 |
|
|
|
|
|
|
(530 |
) |
|
|
(271 |
) |
Interest on lease liabilities |
|
|
|
|
|
|
181 |
|
|
|
130 |
|
Discounting on provisions and other liabilities |
|
|
|
|
|
|
1,064 |
|
|
|
1,293 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair value change on hedged loans |
|
|
|
|
|
|
(214 |
) |
|
|
(803 |
) |
Fair value change on hedging derivatives |
|
|
|
|
|
|
188 |
|
|
|
691 |
|
Exchange variations on net debt |
|
|
|
|
|
|
27 |
|
|
|
9 |
|
Other |
|
|
|
|
|
|
15 |
|
|
|
14 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,198 |
|
|
|
2,060 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income |
|
|
|
|
|
|
(709 |
) |
|
|
(529 |
) |
Other |
|
|
|
|
|
|
– |
|
|
|
– |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total financial income |
|
|
|
|
|
|
(709 |
) |
|
|
(529 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,489 |
|
|
|
1,531 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1 |
Interest has been capitalised at the rate of interest applicable to the specific borrowings financing the assets under construction or, where financed through general borrowings, at a capitalisation rate representing the average interest rate on such borrowings. Tax relief for capitalised interest is approximately US$179 million (2024: US$159 million; 2023: US$81 million). | Recognition and measurement Interest income is accrued using the effective interest rate method. Finance costs are expensed as incurred, except where they relate to the financing of construction or development of qualifying assets.
|