Total non-current liabilities

55

56

3,006

2,952

Total liabilities

5,334

5,590

Equity

Total shareholders’ equity

5,724

^[1],[2]

5,768

Non-controlling interests

263

269

Total equity

5,987

6,037

Total liabilities and equity

$ 11,321

$ 11,627

[1]	The EBITDA calculation for the financial covenants, which amounted to $1,412 million in 2024, is according to the agreements with the financial institutions.
[2]	The examination of compliance with the financial covenants is based on the Company's consolidated financial statements. As of December 31, 2024, the Company complies with all of its financial covenants.

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statements of Income [Abstract]
Sales	$ 6,841	$ 7,536	$ 10,015
Cost of sales	4,585	4,865	4,983
Gross profit	2,256	2,671	5,032
Selling, transport and marketing expenses	1,114	1,093	1,181
General and administrative expenses	259	260	291
Research and development expenses	69	71	68
Other expenses	60	128	30
Other income	(21)	(22)	(54)
Operating income	775	1,141	3,516
Finance expenses	181	259	327
Finance income	(41)	(91)	(214)
Finance expenses, net	140	168	113
Share in earnings of equity-accounted investees	1	1	1
Income before taxes on income	636	974	3,404
Taxes on income	172	287	1,185
Net income	464	687	2,219
Net income attributable to the non-controlling interests	57	40	60
Net income attributable to the shareholders of the Company	$ 407	$ 647	$ 2,159
Earnings per share attributable to the shareholders of the Company:
Basic earnings per share (in dollars)	$ 0.32	$ 0.5	$ 1.68
Diluted earnings per share (in dollars)	$ 0.32	$ 0.5	$ 1.67
Weighted-average number of ordinary shares outstanding:
Basic (in thousands)	1,289,968	1,289,361	1,287,304
Diluted (in thousands)	1,290,039	1,290,668	1,289,947

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statements of Comprehensive Income [Abstract]
Net income	$ 464	$ 687	$ 2,219
Components of other comprehensive income that will be reclassified subsequently to net income
Foreign currency translation differences	(247)	80	(146)
Change in fair value of cash flow hedges transferred to the statement of income	10	59	101
Effective portion of the change in fair value of cash flow hedges	(2)	(41)	(119)
Tax relating to items that will be reclassified subsequently to net income	(2)	(4)	4
Total	(241)	94	(160)
Components of other comprehensive income that will not be reclassified to net income
Actuarial gains from defined benefit plans	33	33	83
Tax relating to items that will not be reclassified to net income	(8)	(8)	(12)
Total	25	25	71
Total comprehensive income	248	806	2,130
Comprehensive income attributable to the non-controlling interests	51	35	40
Comprehensive income attributable to the shareholders of the Company	$ 197	$ 771	$ 2,090

Consolidated Statements of Changes in Equity - USD ($) $ in Millions	Share capital [Member]	Share premium [Member]	Cumulative translation adjustment [Member]	Capital reserves [Member]	Treasury shares, at cost [Member]	Retained earnings [Member]	Attributable to the shareholders of the Company [Member]	Non-controlling interests [Member]	Total
Balance as at Start of Period at Dec. 31, 2021	$ 548	$ 224	$ (444)	$ 138	$ (260)	$ 4,321	$ 4,527	$ 209	$ 4,736
Share-based compensation	1	9	0	3	0	0	13	0	13
Dividends	0	0	0	0	0	(1,166)	(1,166)	0	(1,166)
Comprehensive income	0	0	(126)	(14)	0	2,230	2,090	40	2,130
Balance as at End of Period at Dec. 31, 2022	549	233	(570)	127	(260)	5,385	5,464	249	5,713
Share-based compensation	0	1	0	6	0	0	7	0	7
Dividends	0	0	0	0	0	(474)	(474)	(15)	(489)
Comprehensive income	0	0	85	14	0	672	771	35	806
Balance as at End of Period at Dec. 31, 2023	549	234	(485)	147	(260)	5,583	5,768	269	6,037
Share-based compensation	0	4	0	6	0	0	10	0	10
Dividends	0	0	0	0	0	(251)	(251)	(57)	(308)
Comprehensive income	0	0	241	6	0	432	197	51	248
Balance as at End of Period at Dec. 31, 2024	$ 549	$ 238	$ (726)	$ 159	$ (260)	$ 5,764	$ 5,724	$ 263	$ 5,987

The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.

The amount of residual interest in the assets of the entity after deducting all its liabilities.

Cash flows from operating activities

Consolidated Statements of Cash Flows - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2024

Dec. 31, 2023

Dec. 31, 2022

Net income

$ 464

$ 687

$ 2,219

Adjustments for:

Depreciation and amortization

596

536

498

Fixed assets impairment

14

0

Exchange rate, interest and derivative, net

152

24

157

Tax expenses

172

287

1,185

Change in provisions

(50)

(32)

(83)

Adjustments for reconcile profit loss

13

29

(15)

897

844

1,742

Change in inventories

(7)

465

(527)

Change in trade receivables

26

252

(215)

Change in trade payables

104

(101)

(42)

Change in other receivables

39

26

(46)

Change in other payables

43

(210)

107

Net change in operating assets and liabilities

205

432

(723)

Income taxes paid, net of refund

(98)

(253)

(1,107)

Net cash provided by operating activities (*)

^[1]

1,468

1,710

2,131

Cash flows from investing activities

Proceeds (payments) from deposits, net

56

(88)

(36)

Purchases of property, plant and equipment and intangible assets

(713)

(780)

(747)

Proceeds from divestiture of assets and businesses, net of transaction expenses

19

4

33

Interest received (*)

^[1]

17

10

7

Business combinations

(74)

0

(18)

Net cash used in investing activities

1

14

(694)

(853)

(747)

Cash flows from financing activities

Dividends paid to the Company's shareholders

(251)

(474)

(1,166)

Receipts of long-term debt

889

^[2]

633

^[2]

1,045

Repayments of long-term debt

(1,302)

(836)

(1,181)

Repayments of short-term debt

(1)

(25)

(21)

Interest paid (*)

^[1]

(122)

(125)

(113)

Receipts (payments) from transactions in derivatives

(2)

5

20

Dividend paid to the non-controlling interests

(57)

(15)

0

Net cash used in financing activities

(846)

(837)

(1,416)

Net change in cash and cash equivalents

(72)

20

(32)

Cash and cash equivalents as of the beginning of the period

420

417

473

Net effect of currency translation on cash and cash equivalents

(21)

(17)

(24)

Cash and cash equivalents as of the end of the period

$ 327

$ 420

$ 417

[1]	Reclassification - see Note 3 below.
[2]	The balance includes Short-term debt, loans and debentures, derivatives on loans and debentures, and interest payables.

General

12 Months Ended

Dec. 31, 2024

General Information About Financial Statements [Abstract]

Note 1 - General

Note 1 – General

A.

The Reporting Entity

ICL Group Ltd. (hereinafter – the Company), is a company incorporated and domiciled in Israel. The Company's shares are traded on both the Tel-Aviv Stock Exchange (TASE) and the New York Stock Exchange (NYSE) under the ticker: ICL. The address of the Company’s registered headquarters is 23 Aranha St., Tel Aviv, Israel. The Company is a subsidiary of Israel Corporation Ltd., a public company traded on the TASE under the ticker: ILCO:TA. The State of Israel holds a Special State Share in ICL and in some of its subsidiaries, entitling the State the right to safeguard the State of Israel vital interests. For additional information, see Note 19 - Equity.

The Company, together with its subsidiaries, associated companies and joint ventures (hereinafter - the Group or ICL), is a leading specialty minerals group that operates a unique, integrated business model. The Company competitively extracts certain minerals as raw materials and utilizes processing and product formulation technologies to add value to customers in two main end-markets: agriculture and industrial (including food). ICL’s products are used mainly in agriculture, electronics, food, fuel and gas exploration, water purification and desalination, construction, detergents, cosmetics, pharmaceuticals and automotive.

B.

Security situation in Israel

In October 2023, the Israeli government declared a state of war in response to attacks on its civilians in the south of Israel, which escalated to other areas. The security situation has presented several challenges, including disruptions in supply chains and shipping routes, personnel shortages due to recurring rounds of mobilization for reserve duty, additional costs to protect Company sites/assets, effects of reluctance to perform contractual obligations in Israel during hostilities, various bans and limitations on trade and cooperation with Israel related entities, and fluctuations in foreign currency exchange rates relative to the Israeli shekel. Additionally, regional tensions involving Houthis attacks and threats to commercial vessels have intensified, disrupting shipping routes and commercial shipping arrangements, leading to increased shipping costs.

The Company continues to take measures to ensure the safety of its employees and business partners, as well as the communities in which it operates. It has also implemented supportive measures to accommodate employees called for reserve duty, aiming to minimize any potential impact on its business, and to avoid disruptions to production activities at its facilities in Israel.

The security situation in the last year has not had a material impact on the Company's business results. However, as the developments related to the war, as well as its duration, are unpredictable, the Company is unable to estimate the extent of the war’s potential impact on its future business and results. The Company continuously monitors developments and will take all necessary actions to minimize any negative consequences to its operations and assets.

C.

Definitions

1.

Subsidiary – a company over which the Company has control and the financial statements of which are fully consolidated with the Company's statements as part of the consolidated financial statements.

2.

Investee company – a subsidiary, including a partnership or joint venture which is accounted for using the equity method.

3.

Related party – As in IAS 24 (2009), “Related Party Disclosures”.

Basis of Preparation of the Financial Statements

12 Months Ended

Dec. 31, 2024

Basis Of Preparation Of Financial Statements [Abstract]

Note 2 - Basis of Preparation of the Financial Statements

A.

Statement of compliance with International Financial Reporting Standards

The consolidated financial statements were prepared by ICL in accordance with IFRS Accounting Standards as issued by the International Accounting Standards Board (IASB).

The consolidated financial statements were authorized for issuance by the Company’s Board of Directors on March 12, 2025.

B.

Functional and presentation currency

The consolidated financial statements are presented in United States Dollars (“US Dollars”; $), which is the functional currency of the Company and have been rounded to the nearest million, except when otherwise indicated. Items included in the consolidated financial statements of the Company are measured using the currency of the primary economic environment in which the individual entity operates (“the functional currency”).

C.

Basis of measurement

The consolidated financial statements were prepared using the depreciated historical cost basis except for the following assets and liabilities: Financial instruments measured at fair value through profit or loss, investments in associates, deferred tax assets and liabilities, assets and liabilities in respect of employee benefits. For further information regarding the measurement of assets and liabilities, see Note 3.

D.

Operating cycle

The Company’s regular operating cycle is up to one year. As a result, the current assets and the current liabilities include items for which the realization is intended and anticipated to take place within one year.

E.

Use of estimates and judgment

The preparation of financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.

The evaluation of accounting estimates used in the preparation of ICL’s Financial Statements requires the Company's management to make assumptions regarding interpretations of laws which apply to the Company, circumstances and events involving considerable uncertainty. The Company's management prepares the estimates based on past experience, various facts, external circumstances, and reasonable assumptions relating to the pertinent circumstances of each estimate. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected.

Information about assumptions made by ICL with respect to the future and other reasons for uncertainty with respect to estimates that have a significant risk of resulting in a material adjustment to carrying amounts of assets and liabilities in future years are included in the following table:

Estimate	Principal assumptions	Possible effects	Reference
Concessions, permits and business licenses	Forecast of obtaining renewed concessions, permits and business licenses which constitute the basis for the Company's continued operations and the Company's expectations regarding the holding of the operating assets by it and / or by a subsidiary until the end of their useful lives	Impact on the value of the operation, depreciation periods and residual values of related assets.	See Note 3 – Material Accounting Policies and Note 18 -Concessions.
Recoverable amount of a cash generating unit, among other things, containing goodwill	Expected cash-flow forecasts including estimates of mineral reserves, discount rate, market risk and the forecasted growth rate.	Change in impairment valuation.	See Note 12 - Impairment Testing.
Probability assessment of contingent and environmental liabilities including cost of waste removal/ restoration	Whether it is more likely than not that an outflow of economic resources will be required in respect of potential liabilities under the environmental protection laws and legal claims pending against ICL and the estimation of their amounts. The waste removal/ restoration obligations depend on the reliability of the estimates of future removal costs and interpretation of regulations.	A change in the Company's estimated provisions for a claim and/or environmental liability, including waste removal and restoration.	See Note 18 - Contingent Liabilities.

Material Accounting Policies

12 Months Ended

Dec. 31, 2024

Summary Of Significant Accounting Policies [Abstract]

Note 3 - Significant Accounting Policies

Note 3 - Material Accounting Policies

The accounting policies in accordance with IFRS are consistently applied by ICL companies for all the periods presented in these consolidated financial statements.

A.

Basis for Consolidation

1. Business combinations

ICL implements the acquisition method to all business combinations. The acquisition date is the date on which the acquirer obtains control over the acquiree. Control exists when ICL is exposed or has rights to variable returns from its involvement with the acquiree and it could affect those returns through its power over the acquiree. Substantive rights held by ICL and others are considered when assessing control.

1.

Subsidiaries

Subsidiaries are entities controlled by ICL. The financial statements of the subsidiaries are included in the consolidated financial statements from the date control commenced until the date control ceases to exist. The financial statements of subsidiaries have been changed when necessary to align them with ICL's accounting policies. All intercompany balances and transactions have been eliminated in consolidation.

2.

Non-controlling interests

Non-controlling interests are measured at the date of the business combination at either fair value, or at their proportionate interest in the identifiable assets and liabilities of the acquiree, on a transaction-by-transaction basis.

B.

Foreign Currency

The Company’s reporting currency is the USD; however, for most operations located in Europe, South America and Asia, the functional currency is the local currency.

The assets and liabilities of foreign operations, including goodwill and fair value adjustments from acquisition, are translated to USD at exchange rates at the reporting date. The income and expenses of foreign operations are translated to USD at exchange rates at the dates of the transactions. Foreign currency differences are recognized in other comprehensive income and are presented in equity in the foreign currency translation reserve (hereinafter –Translation Reserve) until the foreign entity is sold or liquidated. When a foreign operation is disposed of, the cumulative amount in the Translation Reserve is reclassified to profit or loss as a part of the capital gain or loss on disposal.

When the foreign operation is a non-wholly owned subsidiary of the Company, then the relevant proportionate share of the foreign operation translation difference is allocated to the non-controlling interests.

Generally, foreign currency differences from a monetary item receivable from or payable to a foreign operation, including foreign operations that are subsidiaries, are recognized in profit or loss in the consolidated financial statements. Foreign exchange gains or losses arising from a monetary item receivable from or payable to a foreign operation, the settlement of which is neither planned nor likely in the foreseeable future, are considered to form part of a net investment in a foreign operation and are recognized in other comprehensive income and are presented within equity in the Translation Reserve.

C.

Financial Instruments

1.

Non-derivative financial assets

ICL initially recognizes trade receivables and debt instruments issued on the date that they are originated and for all other financial assets at the trade date in which ICL becomes a party to the contractual provisions of the instrument. A financial asset is initially measured at fair value plus direct transaction costs and is classified according to ICL’s business model.

ICL has balances of trade and other receivables and deposits that are held within a business model whose objective is collecting contractual cash flows, which represent solely payments of principal and interest (for the time value and the credit risk). Accordingly, these financial assets are measured at amortized cost using the effective interest method.

Derecognition of financial assets occurs when the contractual rights of ICL to the cash flows from the asset expire, or when ICL transfers the rights to receive the contractual cash flows and substantially all the risks and rewards of ownership of the financial asset. When ICL retains substantially all the said risks and rewards, it continues to recognize the financial asset.

2.

Non-derivative financial liabilities

Non-derivative financial liabilities include bank overdrafts, loans and borrowings from banks and others, marketable debt instruments, lease liabilities, and trade and other payables.

ICL initially recognizes debt securities issued on the date that they originated. All other financial liabilities are recognized initially on the trade date at which ICL becomes a party to the contractual provisions of the instrument. Subsequent to initial recognition these financial liabilities are measured at amortized cost using the effective interest method. Derecognition of the financial liabilities occur when the obligation of ICL, as specified in the agreement, expires or when it is discharged or cancelled.

Change in terms of debt instruments:

A substantial modification of the terms of an existing financial liability or part of it and an exchange of debt instruments having substantially different terms, between an existing borrower and lender is accounted for as an extinguishment of the original financial liability and the recognition of a new financial liability at fair value.

In a non-substantial modification of terms (or exchange) of debt instruments, the new cash flows are discounted using the original effective interest rate, and the difference between the present value of the new financial liability and the present value of the original financial liability is recognized in profit or loss. For further information regarding ICL new RCF, see Note 13.

3.

Derivative financial instruments

ICL holds derivative financial instruments to reduce exposure to foreign currency risks, commodity price risks, energy, marine transportation prices and interest. Derivatives are recognized according to fair value and the changes in value are recorded in the statement of income as financing income or expense, except for derivatives used to hedge cash flows (accounting hedging). The attributable transaction costs are recorded in the statement of income as incurred.

Cash flow hedges:

Changes in the fair value of derivatives used to hedge cash flows, in accordance with the effective portion of the hedge, are recorded through other comprehensive income directly in a hedging reserve. With respect to the non‑effective portion, changes in the fair value are recognized in the statement of income. The amount accumulated in the capital reserve is reclassified and included in the statement of income in the same period as the hedged cash flows affected profit or loss under the same line item in the statement of income as the hedged item.

4.

CPI-linked assets and liabilities not measured at fair value

The value of index-linked financial assets and liabilities, which are not measured at fair value, is re‑measured every period in accordance with the actual increase/ decrease in the CPI.

5.

Share capital

Incremental costs directly attributable to the issue of ordinary shares and share options are recognized as a deduction from equity, net of any tax effects.

Treasury shares - when shares recognized as equity are repurchased by ICL, the amount of the consideration paid, which includes directly attributable costs, net of any tax effects, is recognized as a deduction from equity. Repurchased shares are classified as treasury shares and are presented in the treasury share reserve. When treasury shares are sold or reissued subsequently, the amount received is recognized as an increase in equity, and the resulting surplus on the transaction is carried to share premium, whereas a deficit on the transaction is deducted from retained earnings.

D.

Property, plant and equipment

1.

Recognition and measurement

Property, plant and equipment in the consolidated statements are presented at cost less accumulated depreciation and provision for impairment. The cost includes expenses that can be directly attributed to the acquisition of the asset, including material maintenance expenditures. The cost of assets that were self-constructed includes the cost of the materials and direct labor, as well as any additional costs that are directly attributable to bringing the asset to the required position and condition so that it will be able to function as management intended, as well as an estimate of the costs to dismantle, remove and restore, where there is an obligation for such, and capitalized borrowing costs.

2.

Subsequent Costs (after initial recognition)

The cost of replacing part of an item of property, plant and equipment and other subsequent costs is recognized as part of the book value of the item, if it is expected that the future economic benefit inherent therein will flow to ICL and that its cost can be reliably measured. The book value of the part that was replaced is derecognized. Routine maintenance costs are charged to the statement of income as incurred.

3.

Depreciation

Depreciation is recorded in the statement of income according to the straight-line method over the estimated useful life of each significant component of the property, plant and equipment items, including material maintenance expenditures. since this most closely reflects the expected pattern of consumption of the future economic benefits embodied in the asset. Owned land is not depreciated.

The estimated useful life is as follows:

	In Years
Buildings	15 - 30
Technical equipment and machinery (1)	5 - 35
Dikes and evaporating ponds (2)	20 - 43
Other	3 - 10

(1) Mainly 35 years

(2) Mainly 43 years

The Company reviews, at least at the end of every reporting year, the estimates regarding the depreciation method, useful lives and the residual value, and adjusts them if appropriate. Over the years, the Company has succeeded to extend the useful lives of part of property, plant and equipment items beyond the original estimated useful life, as a result of investments therein, adoption of new technologies, implementation of operational excellence processes and other current, ongoing maintenance thereof.

E.

Intangible Assets

Intangible assets with a defined useful life, are measured according to cost less accumulated amortization and accumulated losses from impairment. Intangible assets with indefinite useful lives are measured according to cost less accumulated losses from impairment.

1.

Goodwill

Goodwill recorded consequent to the acquisition of subsidiaries is presented at cost less accumulated impairment charges, under intangible assets.

2.

Research and development

Expenditures for research activities are expensed as incurred. Development expenditures are recognized as intangible asset only if development costs can be measured reliably, the product or process is technically and commercially feasible, future economic benefits are probable, and ICL has the intention and sufficient resources to complete development and to use or sell the asset.

3.

Amortization

Amortization is recorded in the statement of income according to the straight-line method from the date the assets are available for use, over the estimated useful economic life of the intangible assets, except for customer relationships and geological surveys, which are amortized according to the rate of consumption of the economic benefits expected from the asset based on cash flow forecasts.

Goodwill and intangible assets having an indefinite lifespan are not amortized on a systematic basis but, rather, are examined at least once a year for impairment in value. Internally generated intangible assets are not systematically amortized as long as they are not available for use, i.e., they are not yet on site or in working condition for their intended use. Accordingly, these intangible assets, such as development costs, are tested for impairment at least once a year, until such date as they are available for use.

The estimated useful life is as follows:

	In Years
Concessions and mining rights – over the remaining duration of the rights granted
Trademarks	15 - 20
Technology / patents	7 - 20
Customer relationships	15 - 25
Computer applications	3 - 10

ICL periodically examines the estimated useful life of an intangible asset that is not amortized, at least once a year, in order to determine if events and circumstances continue to support the determination that the intangible asset has an indefinite life.

Deferred expenses in respect of geological surveys are amortized over their useful life based on a geological estimate of the amount of the material that will be produced from the mining site.

The estimates regarding the amortization method and useful life are reviewed, at a minimum, at the end of every reporting year and are adjusted where necessary. ICL assesses the useful life of the customer relationships on an ongoing basis, based on an analysis of all the relevant factors and evidence, considering the experience the Company has with respect to recurring orders and churn rates and considering the future economic benefits expected to flow to the Company from these customer relationships.

F.

Inventories

Inventories are measured at the lower of cost or net realizable value. The cost of the inventories includes the costs of purchasing the inventories and bringing them to their present location and condition. In the case of work in process and finished goods, the cost includes the proportionate part of the manufacturing overhead based on normal capacity. Net realizable value is the estimated selling price in the ordinary course of business, after deduction of the estimated cost of completion and the estimated costs required to execute the sale.

The cost of the inventories of raw and auxiliary materials, maintenance materials, finished goods and goods in process, is determined mainly according to the “moving average” method.

If the benefit from stripping costs (costs of removing waste produced as part of a mine's mining activities during its production stage) is attributable to inventories, the Company accounts for these stripping costs as inventories. In a case where the benefit is improved access to the quarry, the Company recognizes the costs as a non‑current addition to the asset, provided the criteria presented in IFRIC 20 are met. Inventories which are expected to be sold in a period of more than 12 months from the reporting date are presented as non-current inventories, as part of non-current assets.

G.

Impairment

1.

Non-derivative financial assets

Provision for expected credit losses in respect of a financial asset at amortized cost, including trade receivables, is measured at an amount equal to the full lifetime of expected credit losses. Expected credit losses are a probability-weighted estimate of credit losses. With respect to other debt instruments, provision for expected credit losses is measured at an amount equal to 12-month expected credit losses, unless their credit risk has increased significantly since initial recognition. Provision for such losses in respect of a financial asset at amortized cost, is presented net of the gross book value of the asset.

2.

Non-financial assets

In each reporting period, an examination is made with respect to whether there are impairment- indicators relating to the value of ICL’s non-financial assets, other than inventories and deferred tax assets. If such indicators exist, the estimated recoverable amount of the asset is calculated. ICL conducts an annual examination, on the same date, of the recoverable amount of goodwill and intangible assets with indefinite useful lives or those that are not available for use – or more frequently if there are indications of impairment. For further information, see Note 12.

The recoverable amount of an asset or a cash-generating unit is the higher of its value in use or the fair value less cost of disposal. When determining the value in use, ICL discounts the anticipated future cash flows according to an after-tax discount rate that reflects the evaluations of the market's participants regarding the time value of money and the specific risks relating to the asset or to the cash-generating unit, in respect of which the future cash flows expected to derive from the asset or the cash-generating unit were not adjusted.

Assets of the Company's headquarters and administrative facilities do not produce separate cash flows and they serve more than one cash-generating unit. Such assets are allocated to cash-generating units on a reasonable and consistent basis and are examined for impairment as part of the examination of impairment of the cash-generating units to which they are allocated.

H. Employee Benefits

ICL has several post-employment benefit plans. The plans are funded partly by deposits with insurance companies, financial institutions or funds managed by a trustee. The plans are classified as defined contribution plans and as defined benefit plans. For further information, see Note 16.

1.

Defined contribution plans

A post-employment benefit plan under which ICL pays fixed contributions into a separate entity and has no legal or constructive obligation to pay further amounts.

ICL’s obligation to deposit in a defined contribution plan is recorded as an expense in the statement of income in the periods in which the employees provided the services.

Retirement benefit plans that are not defined contribution plans:

ICL’s net obligation is calculated for each plan separately, by estimating the future amount of the benefit to which an employee will be entitled as compensation for services in the current and past periods. The benefit is presented at present value after deducting the fair value of the plan's assets.

2.

Defined benefit plans

The movement in the net liability in respect of a defined benefit plan that is recognized in every accounting period in the statement of income is comprised of the following: (1) Current service costs; (2) The net financing income (expense); (3) Exchange rate differences; (4) Past service costs and plan reduction.

The difference, as of the date of the report, between the net liability at the beginning of the year plus the movement in the net liability as detailed above, and the actuarial liability less the fair value of the fund assets at the end of the year, reflects the balance of the actuarial income or expenses recognized in other comprehensive income and is recorded in retained earnings.

3.

Early Retirement Payments

Early retirement payments are recognized as an expense and as a liability when ICL has clearly undertaken to pay it, without any reasonable chance of cancellation, in respect of termination of employees, before they reach the customary age of retirement according to a formal, detailed plan. The benefits provided to employees upon voluntary retirement are charged when ICL proposes the plan to the employees, it is expected that the proposal will be accepted, and it is possible to reliably estimate the number of employees that will accept the proposal.

4.

Short‑term benefits

Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as the related service is provided or upon the actual absence of the employee when the benefit is not accumulated (such as maternity leave).

5.

Share-based compensation

The fair value on the grant date of share-based compensation awards granted to employees is recognized as a salary expense, with a corresponding increase in equity, over the period that the employees become unconditionally entitled to the awards. The amount recognized as an expense in respect of share-based compensation awards that are conditional upon meeting vesting conditions that are service conditions and non-market performance conditions, is adjusted to reflect the number of awards that are expected to vest.

I.

Provisions

A provision is recognized when ICL has a present legal or implied obligation, as the result of an event that occurred in the past, that can be reliably estimated, and when it is expected that an outflow of economic benefits will be required in order to settle the obligation. In rare cases where it is not possible to estimate the outcome of a potential liability, no provision is recorded in the financial statements.

1.

Provision for environmental costs

ICL recognizes a provision for an existing obligation for prevention of environmental pollution and anticipated provisions for costs relating to environmental restoration stemming from past activities.

Costs for preventing environmental pollution that increase the life expectancy or efficiency of a facility are capitalized to the cost of the property, plant and equipment and are depreciated according to the usual depreciation rates used by ICL.

2.

Site restoration

A provision for reclamation and restoration of ICL's sites is recognized when the Company has a legal obligation which could arise, among others, from environmental regulations.

3.

Legal claims

A provision for legal claims is recognized when ICL has a present legal or constructive obligation as a result of an event that occurred in the past, if it is more likely than not that an outflow of economic resources will be required to settle the obligation and it can be reliably estimated.

J.

Revenue Recognition

1.

Identifying a contract

ICL accounts for a contract with a customer only when the following conditions are met: (a) The parties to the contract have approved the contract and they are committed to satisfying the obligations attributable to them; (b) ICL can identify the rights of each party in relation to the goods that will be transferred; (c) ICL can identify the payment terms for the goods that will be transferred; (d) The contract has a commercial substance (i.e. the risk, timing and amount of the entity’s future cash flows are expected to change as a result of the contract); and (e) It is probable that the consideration, to which ICL is entitled to in exchange for the goods transferred to the customer, will be collected.

For the purpose of clause (e) above, ICL takes into consideration its past experience with the customer, the customer's financial stability information, the status and existence of sufficient collateral and the percentage of advances received.

2.

Identifying performance obligations

ICL is a global specialty minerals and chemicals company engaged in the sale of various goods produced in its different segments of operation. ICL's contracts primarily derived from a single performance obligation to deliver the product specified in the contract. For additional information about the Company's products, see note 5 – Operating Segments.

3.

Determining the transaction price

ICL's transaction price is the amount of the consideration specified in the contract with the customer, which it expects to be entitled in exchange for the goods promised to the customer, other than amounts collected for third parties. The variable considerations at ICL, which are mainly trade discounts, commercial returns and volume rebates, have no material impact on the Company's financial statements.

4.

Satisfaction of performance obligation

Revenue is recognized at the point in time, when the Company transfers control over promised goods to the customer. The transfer of control over goods to a customer generally takes place upon shipment or when accepted by the customer, as provided for in the sales contract.

5.

Payment terms

ICL has various payment terms which are aligned with the acceptable commercial conditions in the relevant markets. ICL's policy is to engage in agreements with payment terms not exceeding one year and applies the practical expedient to not separate a significant financing component where the difference between the time of receiving payment and the time of transferring the goods to the customer is one year or less.

K.

Government grants

Government grants are recognized initially at fair value when there is reasonable assurance that they will be received, and the Group will comply with the conditions associated with the grant. Unconditional government grants are recognized when the Group is entitled to receive them.

L.

Leases

Determining whether an arrangement contains a lease

On the inception date of the lease, ICL determines whether the arrangement is a lease or contains a lease, while examining if it conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

For lease contracts that contain non-lease components, such as services or maintenance, that are related to a lease component, ICL accounts for the contract as a single lease component without separating the components.

ICL has elected to apply the practical expedient by which short-term leases of up to one year and/or leases in which the underlying asset has a low value, are recognized in profit or loss on a straight-line basis, over the lease term, without recognizing an asset and/or liability in the statement of financial position.

The lease term is the non-cancellable period of the lease plus periods covered by an extension or termination option if it is reasonably certain that the lessee will or will not exercise the option, respectively.

Variable lease payments that depend on an index or a rate, are initially measured using the index or rate existing at the commencement of the lease and are included in the measurement of the lease liability. When the cash flows of future lease payments change as the result of a change in an index or a rate, the balance of the liability is adjusted against the right-of-use asset. Other variable lease payments that are not included in the measurement of the lease liability are recognized in profit or loss in the period in which the event or condition that triggers payment occurs.

M.

Financing Income and Expenses

Financing income includes income from interest on amounts invested, gains from derivative financial instruments recognized in the statement of income, foreign currency gains and financing income recorded in relation to employee benefits. Interest income is recognized as accrued, using the effective interest method.

Financing expenses include interest on loans received, securitization transaction costs, losses from derivative financial instruments, changes due to the passage of time in liabilities in respect of defined benefit plans for employees less interest income deriving from plan assets of a defined benefit plan for employees and losses from exchange rate differences.

Gains and losses from exchange rate differences and derivative financial instruments are reported on a net basis.

In the consolidated statements of cash flows, interest received is presented as cash flow from investing activities, and interest paid is presented as cash flow used in finance activities. Dividends paid are presented as part of cash flows from financing activity. For further information, see Note 3(P) below.

N.

Taxes on Income

Taxes on income (including surplus profit levy on natural resources) contain current and deferred taxes, that are recognized in profit or loss, unless they relate to a business combination or are recognized directly in equity or in other comprehensive income when they relate to items recognized directly in equity or in other comprehensive income.

A provision for uncertain tax positions, including additional tax and interest expenses, is recognized when it is more likely than not that ICL will have to pay the obligation.

The Company does not recognize deferred taxes for the following temporary differences: initial recognition of goodwill and differences deriving from investments in subsidiaries, if it is not expected that they will reverse in the foreseeable future and if ICL controls the date the provision will reverse, whether via sale or distribution of a dividend. Deferred taxes in respect of intra-company transactions in the consolidated financial statements are recorded according to the tax rate applicable to the buying company.

Deferred tax assets are examined at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized.

Current and deferred tax assets and liabilities are offset if there is a legally enforceable right and they relate to income taxes levied by the same tax authority on the same taxable entity, or on different tax entities, but they intend to settle on a net basis.

ICL could become liable for additional taxes in the case of distribution of intercompany dividends between ICL's companies. These additional taxes are not included in the financial statements as ICL's companies decided not to cause distribution of a dividend that involves additional taxes to the paying company in the foreseeable future. In cases where an investee company is expected to distribute a dividend involving additional tax, the Company records a reserve for expected additional taxes.

O. Amendments to standards and interpretations that have not yet been adopted

IFRS 18, presentation and disclosure in the financial statements

This standard replaces the international accounting standard IAS 1 Presentation of financial statements. In addition, income statement items will be classified into three defined categories: operating, investment and financing. The standard also includes a requirement to provide a separate disclosure in the financial statements regarding the use of management-defined performance measures ("non-GAAP" measures), and specific instructions were added for the grouping and splitting of items in the financial statements and in the notes. IFRS 18 is effective for annual reporting periods beginning on or after January 1, 2027, with an option for early adoption. The Company is examining the effects of the Amendment on the financial statements with no plans for early adoption.

Amendments to IFRS 9, Financial Instruments, and IFRS 7, Financial Instruments: Disclosures

The amendments provide clarifications relating to the date of recognition and derecognition of financial instruments. In accordance with the amendments, an exception is added regarding the timing of derecognizing financial liabilities settled by electronic cash transfers, as well as clarification relating to disclosure requirements for financial instruments with contingent features that are not directly related to changes in the basic risks/cost of the instrument.

The amendments are effective for annual reporting periods beginning on or after January 1, 2026. The Company is examining the effects of the Amendment on the financial statements with no plans for early adoption.

P. Reclassification

The Company made a number of insignificant adjustments to the classification of comparative figures in order to adjust them to the manner of classification in the current financial statements. The said reclassifications have no effect on the total profit (loss).

Nonetheless, commencing with the second quarter of 2024, management decided to reclassify interest received as cash flows from investing activities and interest paid as cash flows from financing activities, instead of under cash provided by operating activities. Management believes that the revised classification provides a more comprehensive view of the financing cost and the nature of financing transactions. Comparative figures have been retrospectively adjusted in the statement of cash flows to reflect this policy change.

Determination of Fair Values

12 Months Ended

Dec. 31, 2024

Fair Value Measurement [Abstract]

Note 4 - Determination of Fair Values

As part of the accounting policies and disclosures, ICL is required to determine the fair value of both financial and non-financial assets and liabilities. The fair values have been determined for measurement and/or disclosure purposes based on the methods described below. Further information about the assumptions made in determining the fair values is disclosed in the notes specific to that asset or liability.

A.

Investments in equity securities

The fair value of investments in equity instruments classified as fair value through other comprehensive income - investments in equity instruments and as fair value through profit and loss, is determined based on their market price at date of the report.

B.

Derivatives

The fair value of forward contracts on foreign currency is determined by averaging the exchange rate and the appropriate interest coefficient for the period of the transaction and the relevant currency index. The fair value of interest rate swap contracts is determined by discounting the estimated amount of the future cash flows based on the terms and length of period to maturity of each contract, while using market interest rates of similar instruments at the date of measurement. Future contracts on energy and marine shipping prices are presented at fair value based on quotes of the prices of products on an ongoing basis. The reasonableness of the fair value is examined by comparing it to banks’ quotations.

C.

Liabilities in respect of debentures

The fair value of liabilities including debentures is determined for disclosure purposes only and is calculated based on the present value of future cash flows in respect of the principal and interest components, discounted at the market rate of interest as of the reporting date. The fair value of marketable debentures is determined based on the stock market prices as of the date of the report.

Operating Segments

12 Months Ended

Dec. 31, 2024

Disclosure of operating segments [abstract]

Note 5 - Operating Segments

A. General

1. Information on operating segments

ICL is a global specialty minerals company operating bromine, potash and phosphate mineral value chains in a unique, integrated business model. Our operations are organized under four segments: Industrial Products, Potash, Phosphate Solutions and Growing Solutions.

Industrial Products – The Industrial Products segment produces bromine derived from a solution that is a by‑product of the potash production process in Sodom, Israel, as well as bromine‑based compounds. Industrial Products uses most of the bromine it produces for its own production of bromine compounds at its production sites in Israel, the Netherlands and China. In addition, the Industrial Products segment produces several grades of salt, magnesium chloride and some other specialty mineral products. Industrial Products is also engaged in the production and marketing of phosphorous-based flame retardants and additional phosphorus‑based products.

Potash – The Potash segment produces and sells primarily potash, salt, magnesium, as well as electricity. Potash is produced in Israel and Spain using an evaporation process to extract potash from the Dead Sea in Israel, and from conventional mining of an underground mine in Spain. The segment also produces and sells pure magnesium and magnesium alloys, as well as chlorine and sylvinite. In addition, the segment sells salt products produced at its potash site in Spain. The Company operates a power plant in Sodom which supplies electricity to ICL companies in Israel (as well as surplus electricity to external customers) and steam to all facilities at the Sodom site.

Phosphate Solutions – The Phosphate Solutions segment is based on a phosphate value chain which uses phosphate commodity products, such as phosphate rock and fertilizer-grade phosphoric acid (“green phosphoric acid”), to produce specialty products with higher added value. The segment also produces and markets phosphate-based fertilizers. Phosphate rock is mined and processed from open pit mines, three of which are located in the Negev Desert in Israel, while the fourth is situated in Yunnan province in China. Sulphuric acid, green phosphoric acid and phosphate fertilizers are also produced in the facilities in Israel and China.

The Phosphate Solutions segment manufactures pure phosphoric acid by purifying green phosphoric acid. Pure phosphoric acid and green phosphoric acid are used to manufacture downstream products with high added value, such as phosphate salts and acids, for a wide range of food and industrial applications. Phosphate salts and acids are used in various industrial end markets such as oral care, cleaning products, paints and coatings, energy storage solutions, water treatment, asphalt modification, construction, metal treatment and more. The segment's products for the food industry include functional food ingredients and phosphate additives which provide texture and stability solutions for processed meat, meat alternatives, poultry, seafood, dairy products, beverages and baked goods. In addition, the segment supplies pure phosphoric acid to ICL’s specialty fertilizers business.

Growing Solutions – The Growing Solutions segment aims to achieve global leadership in plant nutrition markets by enhancing its positions in its core markets of specialty agriculture, ornamental horticulture, turf and landscaping, targeting high-growth markets such as Brazil, India and China, by leveraging its unique R&D capabilities, substantial agronomic experience, global footprint, backward integration to potash, phosphate and polysulphate and chemistry know-how, as well as its ability to integrate and generate synergies from acquired businesses.

ICL is continuously working to expand its broad portfolio of specialty plant nutrition, plant stimulation and plant health solutions, which consists of enhanced efficiency and controlled release fertilizers (CRF), water soluble fertilizers (WSF), liquid fertilizers and straights (MKP/MAP/PeKacid), FertilizerpluS, soil and foliar micronutrients, secondary nutrients, biostimulants, soil conditioners, seed treatment products, and adjuvants.

The Growing Solutions segment develops, manufactures, markets and sells its products globally, mainly in South America, Europe, Asia, North America and Israel. It produces water soluble specialty fertilizers in Belgium, Israel and Spain, organic, ornamental horticulture, turf and landscaping products in the UK and the Netherlands, liquid fertilizers in Israel, Spain and China, straights soluble fertilizers in China and Israel, controlled‑release fertilizers in the Netherlands, Brazil and the US, FertilizerpluS products in the UK, the Netherlands and Germany, as well as secondary nutrients, biostimulants, soil conditioners, seed treatment products, and adjuvants in Brazil.

Other Activities – Other business activities include, among other things, ICL’s innovative arm, promoting innovation, developing new products and services, as well as digital platforms and technological solutions for farmers and agronomists. This category includes Growers and Agmatix, innovative start-ups that are developing agricultural data processing and analysis capabilities for the future of agriculture. In alignment with the Company’s efficiency plan, which includes a change of reporting responsibilities as of January 2024, the results of a non-phosphate related business were allocated from the Phosphate Solutions segment to Other Activities. Comparative figures have been restated to reflect the organizational change in the reportable segments. These activities are not presented as reportable segments as they do not meet the required quantitative thresholds.

2. Segment capital investments

Capital investments made by the segments for each of the reporting periods include mainly property, plant and equipment as well as intangible assets acquired in the ordinary course of business and as part of business combinations.

3. Inter–segment transfers and unallocated income (expenses)

Segment revenue, expenses and results include inter-segment transfers, which are based on transactions prices in the ordinary course of business. This is aligned with reports that are regularly reviewed by the Chief Operating Decision Maker. Inter-segment transfers are eliminated as part of the financial statements' consolidation process.

The Segment profit is measured based on the operating income, without the allocation of certain expenses to the operating segments, as presented in the reports regularly reviewed by the Chief Operating Decision Maker. This is the basis for analyzing segment results, since management believes that it is the most relevant measure for the assessment of such results.

B. Operating segment data

	Industrial Products	Potash	Phosphate Solutions	Growing Solutions	Other Activities	Reconciliations	Consolidated
	$ millions

For the year ended December 31, 2024

Sales to external parties	1,220	1,462	2,049	1,932	178	-	6,841
Inter-segment sales	19	194	166	18	3	(400)	-
Total sales	1,239	1,656	2,215	1,950	181	(400)	6,841

Cost of sales	821	1,006	1,515	1,426	175	(358)	4,585
Segment operating income (loss)	224	250	358	128	(22)	(65)	873
Other expenses not allocated to the segments							(98)
Operating income							775

Financing expenses, net							(140)
Share in earnings of equity-accounted investees							1
Income before income taxes							636

Depreciation, amortization and impairment	57	242	191	74	15	31	610
Capital expenditures	94	332	340	98	8	30	902
Capital expenditures as part of business combination	-	-	-	92	-	-	92

	Industrial Products	Potash	Phosphate Solutions	Growing Solutions	Other Activities	Reconciliations	Consolidated
	$ millions

For the year ended December 31, 2023

Sales to external parties	1,206	1,973	2,141	2,047	169	-	7,536
Inter-segment sales	21	209	209	26	3	(468)	-
Total sales	1,227	2,182	2,350	2,073	172	(468)	7,536

Cost of sales	815	1,011	1,658	1,641	178	(438)	4,865
Segment operating income (loss)	220	668	350	51	(34)	(37)	1,218
Other expenses not allocated to the segments							(77)
Operating income							1,141

Financing expenses, net							(168)
Share in earnings of equity-accounted investees							1
Income before income taxes							974

Depreciation and amortization	57	175	207	68	17	12	536

Capital expenditures	91	384	270	92	13	23	873

	Industrial Products	Potash	Phosphate Solutions	Growing Solutions	Other Activities	Reconciliations	Consolidated
	$ millions

For the year ended December 31, 2022

Sales to external parties	1,737	3,031	2,676	2,376	195	-	10,015
Inter-segment sales	29	282	255	46	3	(615)	-
Total sales	1,766	3,313	2,931	2,422	198	(615)	10,015

Cost of sales	890	1,020	1,795	1,648	191	(561)	4,983
Segment operating income (loss)	628	1,822	785	378	(17)	(87)	3,509
Other income not allocated to the segments							7
Operating income							3,516

Financing expenses, net							(113)
Share in earnings of equity-accounted investees							1
Income before income taxes							3,404

Depreciation and amortization	61	166	179	70	13	9	498

Capital expenditures	90	346	254	101	14	17	822

C. Information based on geographical location

The following table presents the distribution of ICL's sales by geographical location of the customer:

	2024		2023		2022
	$ millions	% of sales	$ millions	% of sales	$ millions	% of sales

Brazil	1,228	18	1,530	20	2,200	22
USA	1,176	17	1,262	17	1,457	15
China	1,068	16	1,059	14	1,495	15
United Kingdom	317	5	428	6	448	4
Germany	315	5	340	5	417	4
Spain	301	4	348	5	365	4
Israel	285	4	274	4	344	3
France	256	4	254	3	305	3
India	197	3	196	3	505	5
Netherlands	149	2	171	2	264	3
All other	1,549	22	1,674	21	2,215	22
Total	6,841	100	7,536	100	10,015	100

The following table presents the distribution of the operating segments sales by geographical location of the customer:

	Industrial Products	Potash	Phosphate Solutions	Growing Solutions	Other Activities	Reconciliations	Consolidated
	$ millions

For the year ended December 31, 2024
Europe	391	478	542	731	128	(147)	2,123
Asia	438	352	613	249	31	(19)	1,664
South America	21	402	307	627	-	(4)	1,353
North America	329	202	567	170	3	(4)	1,267
Rest of the world	60	222	186	173	19	(226)	434
Total	1,239	1,656	2,215	1,950	181	(400)	6,841

	Industrial Products	Potash	Phosphate Solutions	Growing Solutions	Other Activities	Reconciliations	Consolidated
	$ millions

For the year ended December 31, 2023
Europe	432	624	613	746	126	(209)	2,332
Asia	361	539	587	257	30	(30)	1,744
South America	25	524	368	753	-	(5)	1,665
North America	349	260	614	138	2	(12)	1,351
Rest of the world	60	235	168	179	14	(212)	444
Total	1,227	2,182	2,350	2,073	172	(468)	7,536

	Industrial Products	Potash	Phosphate Solutions	Growing Solutions	Other Activities	Reconciliations	Consolidated
	$ millions

For the year ended December 31, 2022
Europe	574	698	755	880	144	(242)	2,809
Asia	664	1,008	781	286	36	(32)	2,743
South America	40	938	496	849	-	(8)	2,315
North America	401	365	654	166	1	(10)	1,577
Rest of the world	87	304	245	241	17	(323)	571
Total	1,766	3,313	2,931	2,422	198	(615)	10,015

The following table presents the distribution of the Company’s sales by geographical location of the main facilities from which they were produced.

For the year ended December 31
2024	2023	2022
$ millions	$ millions	$ millions

Israel	3,118	3,595	5,611
Europe	2,368	2,610	3,361
South America	1,213	1,482	1,994
North America	1,000	999	1,038
Asia	802	788	1,123
Other	55	52	61
	8,556	9,526	13,188
Intercompany sales	(1,715)	(1,990)	(3,173)
Total	6,841	7,536	10,015

The following table presents operating income by geographical location of the assets from which it was produced:

For the year ended December 31
2024	2023	2022
$ millions	$ millions	$ millions

Israel	516	857	2,668
Asia	185	130	221
South America	115	112	184
Europe	(11)	74	445
North America	(5)	45	131
Other	7	4	5
Intercompany eliminations	(32)	(81)	(138)
Total	775	1,141	3,516

The following table present the non-current assets by geographical location of the assets (*)

	As of December 31
	2024	2023
	$ millions	$ millions

Israel	4,637	4,454
Europe	1,518	1,581
North America	450	369
Asia	435	441
South America	389	456
Other	5	5
Total	7,434	7,306

(*) Mainly consist of property, plant and equipment, intangible assets and non-current inventories.

Inventories

12 Months Ended

Dec. 31, 2024

Classes of current inventories [abstract]

Note 6 - Inventories

Note 6 – Inventories

	As of December 31
	2024	2023
	$ millions	$ millions

Finished products	1,071	1,117
Raw materials	321	329
Work in progress	164	174
Spare parts	147	157
Total inventories	1,703	1,777
Of which:
Non-current inventories - mainly raw materials (presented as non-current assets)	77	74
Current inventories	1,626	1,703

Prepaid expenses and other receivables

12 Months Ended

Dec. 31, 2024

Trade and other receivables [abstract]

Note 7 - Prepaid expenses and other receivables

	As of December 31
	2024	2023
	$ millions	$ millions

Government institutions	110	104
Current tax assets	51	67
Prepaid expenses	41	35
Derivative instruments	16	53
Receivables from equity-accounted investees sale	2	17
Other	38	87
	258	363

Investments In Subsidiaries

12 Months Ended

Dec. 31, 2024

Note 8 - Investments in Subsidiaries

A.

Non-controlling interests in subsidiaries

The following tables present information with respect to non-controlling interests in a subsidiary, YPH (at the rate of 50%), before elimination of inter-company transactions. The information includes fair value adjustments that were made on the acquisition date, other than goodwill and presented without adjustments for the ownership rates held by the Company.

	As of December 31
	2024	2023
	$ millions	$ millions

Current assets	270	278
Non-current assets	365	376
Current liabilities	(96)	(102)
Non-current liabilities	(38)	(43)
Equity	(501)	(509)

For the year ended December 31
2024	2023	2022
$ millions	$ millions	$ millions

Sales	579	546	723
Operating Income	152	105	146
Depreciation and amortization	37	33	34
Operating income before depreciation and amortization	189	138	180
Net Income	114	85	116
Total Comprehensive income	103	71	78

B. Business Acquisition and Divestiture

(1)

In the beginning of 2024, the Company completed the acquisition of Nitro 1000, a manufacturer, developer and provider of biological crop inputs in Brazil, for a consideration of $30 million. Nitro 1000’s products mainly target soybean, corn and sugar cane crops, and their application replaces or optimizes the use of fertilizers. These products help farmers increase profitability, as well as offer more sustainable options.

(2)

In July 2024, the Company completed the acquisition of Custom Ag Formulators (hereinafter - CAF), a North American provider of agriculture formulations and products customized for growers, for a total consideration of $60 million, including a performance based earnout of up to $10 million. CAF offers a diverse assortment of liquid adjuvants and enhanced nutrients, as well as various other specialty products.

Other non-current assets

12 Months Ended

Dec. 31, 2024

Other Noncurrent Assets [Abstract]

Note 9 - Other non-current assets

Note 9 – Other non-current assets

	As of December 31
	2024	2023
	$ millions	$ millions

Surplus in employees' defined benefit plans ⁽¹⁾	134	112
Non-current inventories	77	74
Receivables from equity-accounted investees sale	9	9
Long term deposits	8	11
Investments in equity-accounted investees	3	2
Derivative designated as a cash flow hedge	3	1
Other	27	30
	261	239

(1)

See Note 16.

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2024

Disclosure of detailed information about property, plant and equipment [abstract]

Note 10 - Property, Plant and Equipment

A.

Composition

	Land and buildings	Technical equipment and machinery	Dikes and evaporating ponds ⁽³⁾	Plants under construction ⁽¹⁾	Other	Right of use asset ⁽²⁾	Total
	$ millions

Cost
Balance as of January 1, 2024	1,140	8,280	2,025	523	1,219	579	13,766
Additions in respect of business combinations	4	5	-	-	1	-	10
Additions	49	393	137	98	88	97	862
Disposals	(8)	(66)	(29)	-	(3)	(41)	(147)
Translation differences	(53)	(108)	(20)	(15)	(6)	(17)	(219)
Balance as of December 31, 2024	1,132	8,504	2,113	606	1,299	618	14,272
Accumulated depreciation
Balance as of January 1, 2024	544	4,765	885	-	1,018	225	7,437
Additions in respect of business combinations	1	2	-	-	1	-	4
Depreciation⁽³⁾	32	256	148	-	65	86	587
Impairment	-	14	-	-	-	-	14
Disposals	(6)	(60)	(29)	-	(3)	(27)	(125)
Translation differences	(15)	(63)	(16)	-	(5)	(8)	(107)
Balance as of December 31, 2024	556	4,914	988	-	1,076	276	7,810

Depreciated balance as of December 31, 2024	576	3,590	1,125	606	223	342	6,462

(1)

The additions are presented net of items whose construction has been completed and therefore have been reclassified to other categories in “property, plant and equipment”.

(2)

The total additions were recorded against lease liabilities under IFRS 16.

(3)

Depreciation expenses allocation in the amount of $37 million on the "Dikes and evaporating ponds" assets.

	Land and buildings	Technical equipment and machinery	Dikes and evaporating ponds ⁽³⁾	Plants under construction ⁽¹⁾	Other	Right of use asset ⁽²⁾	Total
	$ millions

Cost
Balance as of January 1, 2023	1,086	7,865	1,834	518	1,144	533	12,980
Additions	35	455	179	(3)	78	94	838
Disposals	(4)	(98)	-	(2)	(4)	(51)	(159)
Translation differences	23	58	12	10	1	3	107
Balance as of December 31, 2023	1,140	8,280	2,025	523	1,219	579	13,766
Accumulated depreciation
Balance as of January 1, 2023	512	4,545	829	-	936	189	7,011
Depreciation	27	254	46	-	84	83	494
Disposals	(1)	(68)	-	-	(3)	(49)	(121)
Translation differences	6	34	10	-	1	2	53
Balance as of December 31, 2023	544	4,765	885	-	1,018	225	7,437

Depreciated balance as of December 31, 2023	596	3,515	1,140	523	201	354	6,329

(1)

The additions are presented net of items for which construction has been completed and, accordingly, were reclassified to other categories in the “property, plant and equipment” section.

(2)

The total additions were recorded against lease liabilities (IFRS 16).

(3)

The Company conducted a useful life evaluation of Property, Plant and Equipment at its facilities in Israel. As a result, the estimated useful lives of the certain assets have been extended by 2‑5 years, effective from January 1, 2023, and the depreciation expenses has been reduced by $16 million.

Intangible Assets

12 Months Ended

Dec. 31, 2024

Intangible assets and goodwill [abstract]

Note 11 - Intangible Assets

A.

Composition

	Goodwill	Concessions and mining rights	Trademarks	Technology / patents	Customer relationships	Computer application	Others	Total
	$ millions

Cost
Balance as of January 1, 2024	549	211	86	119	200	166	73	1,404
Additions in respect of business combinations	85	-	-	-	-	-	-	85
Additions	-	5	-	-	-	31	2	38
Disposals	-	-	-	-	-	(1)	(3)	(4)
Translation differences	(73)	(4)	(4)	(5)	(14)	(2)	(1)	(103)
Balance as of December 31, 2024	561	212	82	114	186	194	71	1,420
Amortization
Balance as of January 1, 2024	19	91	37	66	160	95	63	531
Amortization for the year	-	7	2	5	12	17	3	46
Retirements	-	-	-	-	-	(1)	(3)	(4)
Translation differences	(1)	-	(2)	(3)	(10)	(2)	(4)	(22)
Balance as of December 31, 2024	18	98	37	68	162	109	59	551

Amortized Balance as of December 31 ,2024	543	114	45	46	24	85	12	869

	Goodwill	Concessions and mining rights	Trademarks	Technology / patents	Customer relationships	Computer application	Others	Total
	$ millions

Cost
Balance as of January 1, 2023	526	210	84	108	194	142	69	1,333
Additions	-	1	-	8	-	24	2	35
Disposals	-	-	-	-	-	(1)	-	(1)
Translation differences	23	-	2	3	6	1	2	37
Balance as of December 31, 2023	549	211	86	119	200	166	73	1,404
Amortization
Balance as of January 1, 2023	19	85	34	60	144	82	57	481
Amortization for the year	-	6	2	5	12	12	5	42
Translation differences	-	-	1	1	4	1	1	8
Balance as of December 31, 2023	19	91	37	66	160	95	63	531
				-
Amortized Balance as of December 31 ,2023	530	120	49	53	40	71	10	873

B.

Total book value of intangible assets having defined useful lives and those having indefinite useful lives are as follows:

	As of December 31
	2024	2023
	$ millions	$ millions

Intangible assets having a defined useful life	294	311
Intangible assets having an indefinite useful life	575	562
	869	873

Impairment Testing

12 Months Ended

Dec. 31, 2024

Impairment Testing [Abstract]

Note 12 - Impairment Testing

Impairment testing for intangible assets with an indefinite useful life

Goodwill and intangible assets with an indefinite lifespan are not amortized on a systematic basis but, rather, are examined at least once a year for impairment.

The goodwill is not monitored for internal reporting purposes and, accordingly, it is allocated to the Company’s operating segments. The impairment test of the carrying amount of goodwill is conducted accordingly.

For impairment testing purpose, the trademarks with indefinite useful life were allocated to the cash-generating units, which represent the lowest level within the Company.

The carrying amounts of intangible assets with an indefinite useful life are as follows:

	As of December 31
	2024	2023
	$ millions	$ millions

Goodwill
Phosphate Solutions	90	114
Industrial Products	89	91
Growing Solutions	318	289
Potash	18	20
Other	28	16
	543	530

Trademarks	32	32

	575	562

In the third quarter of 2024, the Company conducted its annual impairment test of goodwill and did not identify any impairment. The recoverable amount of the operating segments was determined based on their value in use, which is based on an internal valuation of the discounted future cash flows generated from the continuing operations of the operating segments.

The future cash flow of each operating segment was based on the segment approved five-year plan, which includes segment estimations for revenues, operating income and other factors, such as working capital and capital expenditures. The segments' projections were based, among other on the assumed sales volume growth rates according to long-term expectations, internal selling prices and raw materials prices based on external data sources, when applicable and relevant.

The key assumptions used to calculate the operating segments' recoverable amounts are a nominal after‑tax discount rate of 9.5% and a long‑term growth rate of 2.45%, reflecting the industries and markets in which the Company is engaged.

Credit from Banks and Others

12 Months Ended

Dec. 31, 2024

Note 13 - Credit from Banks and Others

A.

Composition

	As of December 31
	2024	2023
	$ millions	$ millions

Short-term debt
From financial institutions	276	283
Current maturities of:
Debentures	4	441
Long-term loans from financial institutions	26	62
Lease Liability	78	72
	108	575
Total Short-Term debt	384	858
Long- term debt and debentures
Long term lease liability	264	276
Loans from financial institutions	801	734
	1,065	1,010

Marketable debentures	906	1,203
Non-marketable debentures	46	191
	952	1,394
	2,017	2,404
Less – current maturities of:
Debentures	4	441
Long-term loans from financial institutions	26	62
Lease liability	78	72
	108	575

Total Long- term debt and debentures	1,909	1,829

For further information, see Note 21.

B.

Yearly movement in Credit from Banks and Others (*)

	As of December 31
	2024	2023
	$ millions	$ millions

Balance as of January 1	2,703	2,813
Changes from financing cash flows
Receipt of long-term debts	889	633
Repayment of long-term debt	(1,302)	(836)
Repayment of short-term credit	(1)	(25)
Interest paid	(122)	(125)
Receipt from transaction in derivatives, net	(2)	5
Total net financing cash flows	(538)	(348)
Initial recognition of lease liability	97	94
Interest expenses	152	164
Effect of changes in foreign exchange rates	(60)	18
Change in fair value of derivatives	-	26
Other changes	(53)	(64)
Balance as of December 31	2,301	2,703

(*) The balance includes Short-term debt, loans and debentures, derivatives on loans and debentures, and interest payables.

C.

Sale of receivables under securitization transaction

In September 2020, the Company and certain subsidiaries (hereinafter – the Subsidiaries) signed a series of agreements regarding a securitization transaction with three international banks (hereinafter – the Lending Banks) for the sale of their trade receivables to a special company which was established specifically for this purpose (hereinafter – the Acquiring Company).

The new securitization agreements were signed with a committed amount of $300 million and an additional uncommitted amount of $100 million, maturing in September 2025 (hereinafter – the Agreements). The Agreements replaced the prior securitization agreements, which expired in September 2020, and have very similar structure and terms.

The Company's policy is to utilize the securitization limit based on its cash flow needs, alternative financing sources and market conditions. According to the Agreements, the Company undertook to comply with a financial covenant according to which the ratio of net debt to EBITDA will not exceed 4.75. If the Company fails to meet this ratio, the Acquiring Company can discontinue acquiring new trade receivables (without affecting existing acquisitions). As of the reporting date, the Company complies with the financial covenant, as described in 13(E) below.

The Acquiring Company finances acquisition of the debts through a loan received from a financial institution unrelated to the Company. The Subsidiaries are entitled to sell their trade receivables to the Acquiring Company during a period of five years from the closing date of the transaction, with both parties having the option to notify for the transaction's cancellation, at the end of each year. Once the Company has transferred its trade receivables, it no longer has the right to sell them to another party. The selling price of the trade receivables is the amount of the debt sold, less the calculated interest cost based on the expected period between the sale date of the customer debt and its repayment date. Upon acquisition of the debt, the Acquiring Company pays part of the debt price in cash and the remainder in a subordinated note, which is paid after collection of the debt sold. The rate of the cash consideration varies depending on the composition and behavior of the customer portfolio. The Subsidiaries continue to handle the collection of the trade receivables included in the securitization transaction, on behalf of the Acquiring Company.

In addition, the Agreements set several conditions regarding the quality of the customer portfolios, which give the Lending Banks the option of terminating the undertaking or excluding the subsidiaries whose customer portfolios do not meet the conditions set forth in the Agreements.

The trade receivables are fully presented in the Company's statements of financial position and the receipts received from the Acquiring Company are presented as a financial liability under short-term credit. As of December 31, 2024, utilization of the securitization facility within this framework amounted to $176 million (December 31, 2023 - $182 million).

D.

Information on material loans and debentures outstanding as of December 31, 2024:

Instrument type	Loan date	Original principal (millions)	Currency	Carrying amount ($ millions)	Interest rate	Principal repayment date	Additional information
Debentures - Series F	May 2018, December 2020	693	US Dollar	713	6.38%	May 2038	(2), (3)
Debentures - Series G	January/May 2020	766	Israeli Shekel	193	2.40%	2022- 2034 (annual installment)	Partially repaid (3), (4)
Debentures (private offering) – 3 series	January 2014	275	US Dollar	46	5.31%	January 2026	(1)
Sustainability linked loan (SLL)	September 2021	250	Euro	260	0.80%	September 2026	(5)
Loan - European Bank	September 2021	25	Euro	26	0.95%	June 2025

Additional Information:

(1)

In January 2024, the Company repaid $145 million private placement Bond, as scheduled.

(2)

In June 2024, Fitch Ratings reaffirmed the Company’s long-term issuer default rating and senior unsecured rating at 'BBB-'. The outlook on the long-term issuer default rating is stable.

(3)

In July 2024, S&P credit rating reaffirmed the Company’s international credit rating and senior unsecured rating of 'BBB-'. In addition, the S&P Maalot credit rating agency reaffirmed the Company’s credit rating of 'ilAA' with a stable rating outlook.

(4)

In December 2024, the Company repaid NIS 15 million (approximately $4 million) of Series G Bond, as scheduled.

(5)

The loan includes three sustainability performance targets: (1) an annual 4% to 5% reduction in direct and indirect Scope 1 and Scope 2 CO₂ emissions resulting from ICL global operations.(2) Through 2025, the Company is committed to adding a significant number of Tfs (Together for Sustainability) qualified vendors each year who meet criteria of management, environment, health and safety, labor and human rights, ethics, and governance and (3) for female to hold at least 25% of senior management roles, by the end of 2024. As of December 31, 2024, the Company is in compliance with the relevant sustainability performance targets.

(6)

As of December 31, 2024, the Company is in compliance with all its financial covenants set forth in its financing agreements. See item F below.

E.

Credit facilities:

Issuer	Group of international banks
Date of the credit facility	April 2023
Date of credit facility termination	April 2029
The amount of the credit facility	USD 1,550 million ⁽¹⁾
Credit facility has been utilized	Euro 500 million
Interest rate	Up to 33% use of credit: Euribor/ SOFR + 0.69%. From 33% to 66% use of credit: Euribor/ SOFR + 0.89% 66% or more use of credit: Euribor/ SOFR + 1.04%
Loan currency type	USD and Euro loans
Pledges and restrictions	Financial covenants - see Section F, a cross-default mechanism and a negative pledge ⁽²⁾
Non-utilization fee	0.245%

(1)

In April 2023, the Company entered into a Sustainability-Linked Revolving Credit Facility Agreement between ICL Finance B.V., as borrower, and a consortium of twelve international banks for $1,550 million. The Sustainability-Linked RCF replaced a previous revolving credit facility which was due to expire in 2025. In April 2024, all lenders exercised the option to extend the agreement by one year, until April 2029.

(2)

In line with ICL’s strategic commitment to sustainability, the Sustainability-Linked RCF follows ICL’s initial Sustainability-Linked Term Loan dated September 2021. The Sustainability-Linked RCF includes three Key Performance Indicators (KPIs) which have been designed to align with ICL’s sustainability goals: a reduction in Absolute Scope 1 & 2 GHG Emissions; an increase in the percentage of female representation among senior ICL management; and an increase in the number of valid TfS (Together for Sustainability initiative) scorecards obtained for ICL Group suppliers. Each of these goals will be assessed regularly during the term of the Sustainability-Linked RCF through third-party verification of ICL’s performance in these areas.

F.

Restrictions on the Group relating to the receipt of credit

As part of the loan agreements the Company has signed, various restrictions apply including sustainability performance targets and financial covenants, a cross‑default mechanism and a negative pledge.

Set forth below is information regarding the financial covenants applicable to the Company as part of the loan agreements and the compliance therewith. For the Company’s sustainability performance targets see item D(5) above.

Financial Covenants:

Financial Covenants ⁽¹⁾⁽²⁾	Financial Ratio Required under the Agreement	Financial Ratio December 31,
		2024

Total shareholder's equity	Equity above $2,000 million	$ 5,724 million
Ratio of EBITDA to the net interest expenses	Equal to or above 3.5	14.15
Ratio of the net financial debt to EBITDA	Less than 3.5	1.19
Ratio of certain subsidiaries loans to the total assets of the consolidated company	Less than 10%	2.64%

(1)

The examination of compliance with the financial covenants is based on the Company's consolidated financial statements. As of December 31, 2024, the Company complies with all of its financial covenants.

(2)

The EBITDA calculation for the financial covenants, which amounted to $1,412 million in 2024, is according to the agreements with the financial institutions.

G.

Pledges and Restrictions Placed in Respect of Liabilities

(1)

The Company has undertaken various obligations in respect of loans and credit lines from banks, including a negative pledge, whereby the Company committed, among other things, in favor of the lenders, to limit guarantees and indemnities to third parties (other than guarantees in respect of subsidiaries) up to an agreed amount of $550 million. The Company has also committed to grant loans only to subsidiaries and to associated companies, in which it holds at least 25% of the voting rights. The Company has further committed not to grant any credit, other than in the ordinary course of business, and not to register any charges on its existing and future assets and income. For further information regarding the covenants in respect of these loans and credit lines, see item F above.

(2)

As of December 31, 2024, the total guarantees provided by the Company amounted to $151 million (December 31, 2023 - $142 million).

Other Payables

12 Months Ended

Dec. 31, 2024

Trade and other payables [abstract]

Note 14 - Other Payables

Note 14 – Other Payables

	As of December 31
	2024	2023
	$ millions	$ millions

Employees	353	309
Current tax liabilities	215	170
Accrued expenses	88	91
Governmental (mainly in respect of royalties)	105	88
Income received in advance	21	17
Derivative instruments	13	7
Others	84	101
	879	783

(1)

Including post-employment liabilities in the amount of $19 million and $22 million as of December 31, 2024 and 2023, respectively. See Note 16.

Taxes on Income

12 Months Ended

Dec. 31, 2024

Major components of tax expense (income) [abstract]

Note 15 - Taxes on Income

A.

Taxation of companies in Israel

The current and deferred taxes expenses of Israeli entities are booked under the applicable tax rates below:

1.

Income tax rate

The Israeli statutory primary income tax rate is 23%.

2.

Tax benefits under the Israeli Law for the Encouragement of Capital Investments, 1959 (hereinafter – the Encouragement Law)

a)

Beneficiary Enterprises

The production facilities of some of the Company’s subsidiaries in Israel (hereinafter – the Subsidiaries) have received “Beneficiary Enterprise” status under the Encouragement law after Amendment No. 60 to the Law was published in April 2005. The main benefit granted to the Subsidiaries is a preferred tax rate. From the year 2022, “Beneficiary Enterprise” tax benefits to the Subsidiaries have been discontinued.

A company which had a “Beneficiary Enterprise” that distributes a dividend out of exempt income, will be subject to corporate tax in the year in which the dividend is distributed on the amount distributed, at the tax rate applicable under the Encouragement Law in the year in which the exempted income was generated, had it not been exempt from tax. In addition, a withholding tax will be applied at the applicable rate to the distribution.

2.

Tax benefits under the Israeli Law for the Encouragement of Capital Investments, 1959 (cont'd)

a)

Beneficiary Enterprise (cont'd)

In November 2021, the Israeli Economic Efficiency Law for the years 2021 and 2022 was published, which consists of numerous legislative amendments and arrangements, including an amendment to Section 74 of the Encouragement Law, (hereinafter - the amendment). The amendment stipulates that in any dividend distribution from companies holding accumulated profits that were exempt from tax until their distribution as a dividend ("trapped earnings"), a certain part of the distribution will be considered a distribution of those trapped earnings, which will be fully taxed upon release.

As of December 31, 2024, the Company's “trapped earnings” balance was about 950 NIS million (approximately $260 million). The Company estimates that its remaining “trapped earnings” are not expected to be distributed and therefore no deferred tax liability accrual was booked.

b)

Preferred Enterprises

In December 2010, the Israeli Knesset approved the Economic Policy Law for 2011‑2012, whereby the Encouragement law, was amended (hereinafter – the Amendment). The Amendment is effective from January 1, 2011 and its provisions apply to preferred income, derived or accrued by a Preferred Enterprise, as defined in the Amendment, in 2011 and thereafter.

The Amendment does not apply to an Industrial Enterprise that is a mine, or any other facility for production of minerals or a facility for exploration of fuel. Therefore, ICL plants that are defined as mining plants and mineral producers will not be able to take advantage of the tax rates included as part of the Amendment.

The tax rates applicable to Preferred Enterprises in Israel:

1)

Preferred Enterprises located in Development Area A – 7.5%.

2)

Preferred Enterprises located in the rest of the country – 16%.

2.

Tax benefits under the Israeli Law for the Encouragement of Capital Investments, 1959 (cont'd)

b) Preferred Enterprises (cont'd)

In November 2015, the Knesset passed the Economic Efficiency Law, which expanded the exception to all of the Enterprise’s activities up to the time of the first marketable product (for additional details – see Section 4 below). However, tax benefits to which a Beneficiary Plant was entitled were not cancelled in respect of investments made up to December 31, 2012. Therefore, such plants are able to utilize the tax benefits in respect of such investments, in accordance with the provisions of the old law.

It is further provided in the Amendment that tax will not apply to a dividend distributed out of preferred income to a shareholder that is an Israeli‑resident company. A dividend distributed out of preferred income to a shareholder that is an individual or a foreign resident is subject to tax at a rate of 20%, unless a lower tax rate applies under a relevant treaty for prevention of double taxation.

3.

The Law for the Encouragement of Industry (Taxation), 1969

a)

Some of the Company’s Israeli subsidiaries are “Industrial Enterprise”, as defined in the abovementioned law. In respect of buildings, machinery and equipment owned and used by any "Industrial Enterprise", the Company is entitled to claim accelerated depreciation as provided by the Income Tax Regulations – Adjustments for Inflation (Depreciation Rates), 1986 which allow accelerated depreciation to any "Industrial Enterprise" as of the tax year in which each asset is first placed in service.

b)

The Industrial Enterprises owned by some of the Company's Israeli subsidiaries have a common line of production or similar industrial branch activity and, therefore, they file, together with the Company, a consolidated tax return in accordance with Section 23 of the Law for the Encouragement of Industry. Accordingly, each of the said companies is entitled to offset its tax losses against the taxable income of the other companies.

4.

Taxation of Profits Natural Resources

The government take on natural resources in Israel includes three elements: Royalties, Corporate Income Tax and Surplus Profit Levy. The highlights of the Law are set forth below:

4.1

Royalties

In accordance with the Mines Ordinance, the rate of the royalties, in connection with resources produced from the quarries, will be 5%. For production of phosphates, according to the Mines Ordinance (Third Addendum A), the royalty rate is 5% of the value of the quarried material.

In accordance with the Israeli Dead Sea Concession Law, 1961, the royalty rate for potash, bromine and magnesium is 5% of the value of the sold quantity.

4.

Taxation of Profits Natural Resources (cont'd)

4.2

Imposition of Surplus Profit Levy

The Law for Taxation of Profits from Natural Resources (hereinafter – the Law), is effective since January 1, 2016. The law is applied for the bromine, phosphate and magnesium minerals from 2016 and for potash from 2017. The tax base, which will be calculated for every mineral separately, is the mineral’s operating income, in accordance with the accounting statement of income, to which certain adjustments will be made.

The taxable profit is based on the first traded product mineral operating income, as adjusted, after a deduction of 5% of the mineral’s year end working capital, and an amount that reflects a yield of 14% on the value of property, plant and equipment used for production and sale of the quarried material.

On the tax base, as stated, a progressive tax will be imposed at a rate to be determined based on the yield in that year. For a yield between 14% and 20%, Natural Resources Tax will be imposed at the rate of 25%, while yield in excess of 20% will be subject to Natural Resources Tax at the rate of 42%. In years in which the Natural Resources Tax base is negative, the negative amount will be carried forward from year to year and will constitute a tax shield in the succeeding tax year. The above computations, including the right to use prior years’ losses, are made separately, without considering setoffs, for each natural resource production and sale activity.

Limitations on the Natural Resources Tax – the Natural Resources Tax will only apply to profits deriving from the actual production and sale of each of the following resources: potash, bromine, magnesium and phosphates, and not to the profits deriving from the downstream industrial activities. Calculation of the Natural Resources Tax will be made separately for every mineral mining concession. Nonetheless, regarding magnesium, it was provided that commencing from 2017, upon sale of Carnalite by DSW to magnesium and reacquisition of a Sylvinite by‑product by DSW, magnesium will charge DSW $100 per tonne of potash, which is produced from the Sylvinite (linked to the CPI).

A mechanism was provided for determination of the market price, with respect to transactions in natural resources executed between related parties in Israel, as well as a mechanism for calculation of the manner for costs allocation between the production and sale of the natural resource, on the one hand, and the downstream activities, on the other hand.

Regarding the bromine resource, the sale price of bromine sold to related parties, in and outside of Israel, who use the bromine for bromine compounds manufacturing activities, shall be, in each tax year, the higher of:

1)

Actual price in the sale transaction.

2)

A price which will provide an operating profit for the bromine compounds manufacturer of 12% out of the revenue it generates from bromine compounds sales.

Regarding the phosphate resource, the sale price of phosphate sold to related parties for purposes of downstream manufacturing activities shall be, in each tax year, the higher of:

1)

Actual price in the sale transaction.

2)

A price which will keep an operating profit with the downstream products manufacturer of 12% out of the revenue it generates from downstream phosphate made of products sales.

3)

The production and operating costs attributable to a unit of phosphate.

Amendment number 3 to the Law

In November 2021, Amendment number 3 to the Law was approved by the Israeli Kneset, according to which the arrangement of tax collection will be altered so that companies will be required to pay 75% of the disputed tax, after objecting to a tax assessment by appeal to the district court, and prior to a Court ruling. Prior to this amendment, the full payment of the Surplus Profit Levy in dispute was not required until a Court ruling is rendered.

Assessment agreement - Surplus Profit Levy

In June 2022, a settlement agreement was signed with the Israeli Tax Authority which provides final assessments for the tax years 2016-2020, as well as outlines understandings for the calculation of the surplus profit levy for the years from 2021 onwards. As a result, in 2022 the Company recorded tax expenses for prior years in the amount of about $188 million.

4.3

Corporate income Tax:

The Law for Encouragement of Capital Investments was revised such that the definition of a “Plant for Production of Quarries” will include all the plant’s activities up to production of the first marketable natural resource of potash, bromine, magnesium and phosphates. Accordingly, activities involved with production of the first traded resource will not be entitled to tax benefits under the Law, whereas activities relating to downstream products, such as bromine compounds, acids, fertilizers, etc. will be entitled to tax benefits under the Law.

The Natural Resource Tax will be deductible from the Company's taxable income and the Company will pay the Corporate Tax on the balance as is customary in Israel.

B.

Taxation of non-Israeli subsidiaries

Subsidiaries incorporated outside of Israel are assessed for tax under the tax laws in their countries of residence⁽³⁾. The principal tax rates applicable to the major subsidiaries outside Israel are as follows:

Country	Tax rate	Note
Brazil	34%
Germany	29%
United States	26%	⁽¹⁾
Netherlands	25.8%
Spain	25%
China	25%
United Kingdom	25%	⁽²⁾

(1)

The tax rate is an estimated average and includes federal and states tax. Different rate may apply in each specific year, as a result of different allocation of income between the different states.

(2)

The tax rate in the UK was increased from 19% to 25% since April 1, 2023.

(3)

In accordance with the legislation of BEPS Pillar 2 which entered into effect in 2024, there are several territories in which the Company operates, where the local tax rate may require a supplement to a minimum taxation of 15%. Based on the Company estimation, no material impact is expected on its results from the above legislation.

C.

Carried forward tax losses

As of December 31, 2024, the balances of the carryforward tax losses of subsidiaries for which deferred taxes were recorded, is about $515 million (December 31, 2023 – about $476 million).

As of December 31, 2024, the balances of the carryforward tax losses to future years of subsidiaries for which deferred taxes were not recorded, is about $263 million (December 31, 2023 – about $206 million).

As of December 31, 2024, the capital losses for tax purposes available for carryforward to future years for which deferred taxes were not recorded is about $159 million (December 31, 2023 – about $152 million).

D.

Tax assessment

The Company and the main operational companies in Israel, have received final tax assessments up to and including 2019. The main subsidiaries outside of Israel have final tax assessments up to and including 2015 - 2020.

E.

Deferred income taxes

1. The composition of the deferred taxes and the changes therein, are as follows:

In respect of financial position				In respect of carry forward tax losses	Total
Depreciable property, plant and equipment and intangible assets	Inventories	Provisions for employee benefits	Other
$ millions

Balance as of January 1, 2023	(547)	72	64	19	119	(273)
Changes in 2023:
Amounts recorded in the statement of income	(46)	(22)	(5)	(4)	19	(58)
Amounts recorded to a capital reserve	-	-	(8)	(4)	-	(12)
Translation differences	(3)	-	1	4	4	6
Balance as of December 31, 2023	(596)	50	52	15	142	(337)
Changes in 2024:
Amounts recorded in the statement of income	(36)	(7)	4	33	23	17
Amounts recorded to a capital reserve	-	-	(8)	-	-	(8)
Translation differences	9	(1)	(1)	(7)	(10)	(10)
Balance as of December 31, 2024	(623)	42	47	41	155	(338)

2. The currencies in which the deferred taxes are denominated:

	As of December 31
	2024	2023
	$ millions	$ millions

Israeli Shekels	(432)	(420)
Euro	51	38
Brazilian Real	15	24
British Pound	11	11
U.S Dollar	9	1
Other	8	9
	(338)	(337)

F.

Taxes on income included in the income statements

1.

Composition of income tax expenses (income)

For the year ended December 31
2024	2023	2022
$ millions	$ millions	$ millions

Current taxes	184	251	869
Deferred taxes	(20)	47	45
Taxes in respect of prior years	8	(11)	271
	172	287	1,185

* The tax expenses for 2024 derived mainly from the Israeli and Chinese companies.

2.

Theoretical tax

Following is a reconciliation of the theoretical tax expense, assuming all income is taxed at the regular tax rates in Israel (see A(2) above) and the tax expense presented in the statements of income:

For the year ended December 31
2024	2023	2022
$ millions	$ millions	$ millions

Income before taxes on income, as reported in the statements of income	636	974	3,404
Statutory tax rate (in Israel)	23%	23%	23%
Theoretical tax expense	146	224	783
Add (less) – the tax effect of:
Surplus Profit Levy tax	3	62	265
Reduced tax due to tax benefits	(12)	(17)	(95)
Differences deriving from additional deduction and different tax rates applicable to foreign subsidiaries	(19)	(32)	1
Tax on dividend	6	4	5
Deductible temporary differences and their reversal (including carryforward losses) for which deferred taxes assets were not recorded and non–deductible expenses	29	52	(29)
Taxes in respect of prior years*	8	(11)	271
Differences in measurement basis	3	2	(21)
Other differences	8	3	5
Taxes on income included in the income statements	172	287	1,185

* For 2022, included the settlement agreement related to surplus profit levy, as described above.

G.

Taxes on income relating to items recorded in equity

For the year ended December 31
2024	2023	2022
$ millions	$ millions	$ millions

Tax recorded in other comprehensive income
Actuarial gains from defined benefit plan	(8)	(8)	(12)
Change in fair value of hedging derivatives	(2)	(4)	4
Taxes in respect of exchange rate differences on equity loan to a subsidiary included in translation adjustment	27	(9)	(11)
Total	17	(21)	(19)

Employee Benefits

12 Months Ended

Dec. 31, 2024

Classes of employee benefits expense [abstract]

Note 16 - Employee Benefits

A.

Composition

Composition of employee benefits:

	As of December 31
	2024	2023
	$ millions	$ millions

Fair value of plan assets	444	453
Termination benefits	(54)	(64)
Defined benefit obligation	(605)	(653)
	(215)	(264)

Composition of fair value of the plan assets:

	As of December 31
	2024	2023
	$ millions	$ millions

Equity instruments
With quoted market price	119	138
Without quoted market price	31	38
	150	176
Debt instruments
With quoted market price	194	240
Without quoted market price	76	13
	270	253
Deposits with insurance companies	24	24

	444	453

B.

Severance Pay

1.

Israeli companies

The labor laws in Israel require the Company to pay severance pay to employees who were dismissed or have retired (including those who left the Company in other specific circumstances). The liability for the payment of severance pay is calculated according to the labor agreements in effect on the basis of salary components which, in the opinion of Company management, create an obligation to pay severance pay.

The Company has two severance pay plans: one plan according to the provisions of section 14 of the Severance Pay Law, which is accounted for as a defined contribution plan; and the other for employees to whom section 14 does not apply, which is accounted for as a defined benefit plan. The Company’s liability in Israel for the payment of severance pay to employees is mostly covered by current deposits in the names of the employees in recognized pension and severance pay funds, and by the acquisition of insurance policies, which are accounted for as plan assets.

2.

Certain subsidiaries outside Israel

In countries wherein subsidiaries operate that have no law requiring payment of severance pay, the subsidiaries have not recorded a provision in the financial statements for possible eventual future severance payments to employees, except in cases where part of the activities of the enterprise is discontinued and, as a result, the employees are dismissed.

C.

Pension and Early Retirement

(1)

Some of the Company’s employees in and outside of Israel have defined benefit pension plans for their retirement, which are controlled by the Company. Generally, according to the terms of the plans, as stated, the employees are entitled to receive pension payments based on, among other things, their number of years of service (in certain cases up to 70% of their last base salary) or computed, in certain cases, based on a fixed salary. Some employees of a subsidiary in Israel are entitled to early retirement if they meet certain conditions, including age and seniority at the time of retirement.

(2)

Some subsidiaries have signed plans with funds – and with a pension fund for some of the employees – under which such subsidiaries make current deposits with that fund which releases them from their liability for making pension payments under the labor agreements to their employees upon reaching a retirement age. The amounts funded are not reflected in the statements of financial position, since they are not under the control and management of the subsidiaries.

D.

Post-employment retirement benefits

Some of the Company retirees receive, aside from the pension payments from a pension fund, benefits that are primarily holiday gifts and paid vacations. The company’s liability for these costs accrues during the employment period. The Company includes in its financial statements the projected costs in the post-employment period according to an actuarial calculation.

E.

Movement in net defined benefit obligation and in its components:

Fair value of plan assets ^(*)		Defined benefit obligation		Defined benefit obligation, net
2024	2023	2024	2023	2024	2023
$ millions	$ millions	$ millions	$ millions	$ millions	$ millions

Balance as of January 1	453	432	(653)	(664)	(200)	(232)
Income (costs) included in profit or loss:
Current service costs	-	-	(13)	(15)	(13)	(15)
Interest income (expenses)	21	20	(31)	(31)	(10)	(11)
Past service cost	-	-	1	(1)	1	(1)
Effect of movements in exchange rates, net	(1)	(6)	2	10	1	4
Included in other comprehensive income:
Actuarial profits (losses) deriving from changes in financial assumptions	-	-	38	24	38	24
Other actuarial gains	(5)	8	-	-	(5)	8
Change with respect to translation differences, net	(6)	12	11	(15)	5	(3)
Other movements:
Benefits received (paid)	(24)	(19)	40	39	16	20
Employer contribution	6	6	-	-	6	6
Balance as of December 31	444	453	(605)	(653)	(161)	(200)

(*) The actual return on plan assets in 2024 is $16 million, compared with $28 million in 2023.

F.

Actuarial assumptions

Principal actuarial assumptions as of the reporting date (expressed as weighted averages):

For the year ended December 31
2024	2023	2022
%	%	%

Discount rate as of December 31	5.2	4.9	4.7
Future salary increases	3.6	3.6	3.9
Future pension increase	2.5	2.6	2.8

G.

Sensitivity analysis

Assuming all other assumptions remain constant, the following reasonably possible changes affect the defined benefit obligation as of the date of the financial statements in the following manner:

December 2024
Decrease 10%	Decrease 5%	Increase 5%	Increase 10%
$ millions

Significant actuarial assumptions
Salary increases	(7)	(3)	3	7
Discount rate	26	13	(13)	(26)
Mortality table	12	6	(6)	(12)

The assumptions regarding the future mortality rates are based on published statistics and accepted mortality tables.

H.

The Effect of the plans on the Company's future cash flows

The expenses recorded in respect of defined contribution plans in 2024 are $39 million (compared with $38 million in 2023).

The Company estimates that the expected deposits in 2024 to fund defined benefit plans are about $9 million.

As of December 31, 2024, the Company estimates that the life of the defined benefit plans, based on a weighted average, is about 10 years compared to 11 years weighted average in 2023.

I.

Long-term incentive plan

(1)

At the general meeting of shareholders held on March 6, 2025, the shareholders approved a new three-year equity grant for the years 2025-2027 in the form of about 4.3 million non-marketable and non-transferable options for no consideration, under the Company’s 2024 Equity Plan, to the newly appointed ICL's CEO and Chairman of the Board. The aggregate fair value at the grant dates is about $7 million. For further information, see Note 19.

(2)

On April 3, 2024, and April 4, 2024, the Company’s HR & Compensation Committee and the Board of Directors, respectively, approved a new three-year equity grant for the years 2024-2026 in the form of about 12 million non-marketable and non-transferable options for no consideration to officers and senior managers. For further information, see Note 19.

(3)

In November 2021, Company's HR & Compensation Committee and the Board of Directors approved a new Cash LTI plan, according to which, other senior managers will be awarded a cash incentive in 2025, the fair value at the grant date is about $37 million. The grant was subject to achievement of certain financial targets over the three years 2022-2024 and affected by the change in share price.

Provisions

12 Months Ended

Dec. 31, 2024

Disclosure Of Provision [Abstract]

Note 17 - Provisions

Note 17 – Provisions

A.

Composition and changes in the provision

	Site restoration and equipment dismantling ⁽¹⁾	Legal claims	Other	Total
	$ millions

Balance as of January 1, 2024	224	45	40	309
Provisions recorded during the year	54	1	5	60
Provisions reversed during the year	-	(1)	(5)	(6)
Payments during the year	(29)	(30)	(1)	(60)
Translation differences	(5)	(2)	(3)	(10)
Balance as of December 31, 2024	244	13	36	293

(1)

Main items under 'Site restoration and equipment dismantling':

a.

Spain – In 2018, a restoration plan was approved for the Suria and Sallent sites, which included a plan for handling the salt piles and dismantling of facilities. The restoration plan for the Suria site is scheduled to extend until 2095, and for the Sallent site up to 2072.

Estimation of the projected costs for the closure and restoration of the Sallent site – the main portion of the estimated costs for closure and restoration is attributed to restoration of the salt pile. The Company is treating the salt pile, by both utilizing the salt for production and sale for, among others, de-icing purposes, and by processing the material and removing it to the sea via a Collector. As of December 31, 2024, the total provision for the closure and restoration of the Sallent site amounts to $65 million. The estimation is based on a long-term forecast, covering a period of more than 49 years, along with observed estimates and, therefore, the actual costs that may be required to restore the Sallent site may differ, even substantially, from the current provision. In the Company's estimation, the provision in its books reflects the best estimate of the expense required to settle this obligation.

b.

ICL Rotem– as of December 31, 2024, according to the Company's estimation, the provision for the restoration of the mining sites and waste repositories, for ICL Rotem's operations, amounted to $109 million. The provision is measured based on the present value of the cash flows, which relies on the Company's estimation of the future expense required for the restoration of the mining sites. The actual costs that may be required may differ, even substantially, from the current provision, as a result of the inherent complexity of such estimation, the Company's future decisions regarding the facilities and regulatory requirements.

c.

Bromine Israel (Neot Hovav) – pursuant to the Ministry of Environmental Protection, the Company is required to treat both solid waste of past periods which is stored in a designated defined area on the site's premises, and currently-produced waste created during the ongoing production processes in the plant. Waste treatment is partly conducted through a hydro-bromine acid recovering facility (BRU), operated by the Company. Part of the waste is sent for external designated treatment. As of December 31, 2024, the provision for prior periods waste treatment amounted to $21 million. In the Company's estimation, based on the information currently available to it, the provision included in its financial statements covers the estimated cost for treating prior periods waste.

Commitments, Concessions and Contingent Liabilities

12 Months Ended

Dec. 31, 2024

Capital commitments [abstract]

Note 18 - Commitments, Concessions and Contingent Liabilities

A.

Commitments

(1)

Several of the Group’s subsidiaries have entered into agreements with suppliers for the purchase of raw materials and natural gas in the ordinary course of business for various periods ending in 2038. As of December 31, 2024, the total amount of the commitments is approximately $2 billion. This amount includes the agreements described below.

(2)

Several of the Group’s subsidiaries have entered into agreements with suppliers for the acquisition of property, plant and equipment. As of December 31, 2024, the subsidiaries’ capital expenditures commitments total approximately $708 million. This amount includes the agreements described below.

(3)

As part of the collaboration between ICL's subsidiary in Spain (ICL Iberia) and the government of Catalonia to achieve environmental sustainability goals, the Company has undertaken to carry out restoration of salt piles at ICL Iberia’s sites, mainly by processing and removing them to the sea via a collector. In 2021, the Company signed an agreement with the Catalan Water Agency for the construction and operation of a collector. The key elements of the agreement include, among other things, guidelines by which the project will be managed, financing aspects related to the project, project costs and a determination of an operational maintenance mechanism, including usage costs. Based on the said agreement and Spain's water law, it was agreed that ICL Iberia will assume up to 90% of the project's cost (totaling approximately $110 million) which will be paid throughout the construction and operating periods. Construction, which is in progress, is expected to extend until early 2027 and the operational period is expected to extend over a period of 25 years.

(4)

In 2017, the Company entered into a gas purchase agreement with Energean Israel Limited (hereinafter - Energean), which holds a license to develop the Karish and Tanin gas reservoirs off the shore of Israel. Pursuant to the agreement, Energean will supply the Company with up to 13 BCM of natural gas (NG), valued at $2 billion, over a period of 15 years commencing with its commercial operation of Karish, which commenced in April 2023 following continued delays. The NG from the reservoirs is utilized to operate ICL’s factories and power stations in Israel.

(5)

In 2020, the Company entered into a long-term lease agreement with a third party according to which ICL will lease an office building in Be'er Sheva, Israel, for a period of 15 years, with a 10-year extension option, at an annual rent of about $3.7 million. The lease period is expected to commence in 2025 following the completion of the building.

(6)

The Articles of Association of the Company and its Israeli subsidiaries include provisions that permit exemption, indemnification and insurance of liability of officers and directors, all in accordance with the provisions of the Companies Law.

The Company, following approval by its HR & Compensation Committee, Board of Directors and shareholders, granted its officers and directors a letter of exemption and indemnification, and also maintains an insurance policy covering directors' and officers' liability which is renewed annually. The directors' and officers' liability insurance and the exemption and indemnity undertaking do not apply to those cases specified in Section 263 of the Companies Law. The exemption is from liability for damages caused and/or that will be caused, by those officers and directors due to a breach of duty to the Company. Regarding directors who are officeholders of Israel Corp., who may serve from time to time, on January 5, 2021, the shareholders approved an extension of the period for exemption and indemnification entered into with such officeholders for an additional nine years commencing November 30, 2020, provided that the exemption shall not apply to liabilities arising in connection with a transaction or resolution in which a controlling shareholder or an officeholder, including an officeholder who is other than the officeholder party to the agreement, has a personal interest (within the meaning of the Companies Law).

The amount of indemnification payable by the Company under the letters of indemnification, in addition to amounts received from an insurance company, if any, for all of the officers and directors on an aggregate basis, for one or more of the events detailed therein, is limited to $300 million.

B.

Concessions

(1) Dead Sea Works Ltd. (hereinafter – DSW)

Pursuant to the Israeli Dead Sea Concession Law, 1961 (hereinafter – the Concession Law), as amended in 1986, and the concession deed attached as an addendum to the Concession Law, DSW was granted a concession to utilize the resources of the Dead Sea and to lease the land required for its plants in Sodom for a period ending on March 31, 2030. According to the Concession Law, should the government decide to offer a new concession after the expiration date to another party, it will first offer the new concession to DSW with terms that are no less attractive than those it may offer to that party.

In accordance with section 24 (a) of the Supplement to the Concession Law, it is stated, among other things, that at the end of the concession period all the tangible assets located in the concession area will be transferred to the government in exchange for their amortized replacement value – the value of the assets as if they were purchased as new at the end of the concession period, less their technical depreciation based on their maintenance condition and the unique characteristics of the Dead Sea area.

As per section 24 (b) of the Supplement to the Concession Law of the State of Israel, capital investments made within the 10-year period before the end of the concession require prior consent of the Israeli government, unless they can be fully deducted for tax purposes before the end of the concession period. However, the government's consent to any fundamental investment that may be necessary for the proper operation of the plants will not be unreasonably delayed or denied.

In 2020, an agreement was concluded between the Company and the government for the purpose of implementing section 24(b). The agreement determines, among other things, the manner of examining new investments and the consent process. In addition, the agreement determines the Company's commitment to invest in fixed assets, including for preservation and infrastructure, as well as for ongoing maintenance of the facilities in the concession area (for the period beginning in 2026) and the Company's commitment to continue production of potassium chloride and elemental bromine (for the period commencing 2028), all subject to the conditions specified in the agreement. Such commitments do not change the way the Company currently operates. The Company engages with the government in accordance with the agreement and obtains investment approvals as required.

In 2015, Israel’s Minister of Finance appointed a team to determine the “governmental activities to be conducted towards the end of the concession period”. The public’s comments regarding this matter were submitted to an inter-ministerial team.

Based on the interim report and its recommendations published in May 2018, and following a public hearing in January 2019, the Israel’s Ministry of Finance released the final report of the inter-ministry team headed by Mr. Yoel Naveh, former Chief Economist, which included a series of guidelines and recommendations regarding the actions that the government should take towards the end of the concession period. Since the report includes guiding principles and a recommendation to establish sub‑teams to implement such principles, the Company is unable to assess the concrete implications of these guidelines and recommendations, or, whether the recommendations will be implemented in practice, as well as the relevant timing of their implementation. In addition, there is no certainty as to how the government will interpret the Concession Law and implement processes accordingly.

In addition, in 2015, the Minister of Finance appointed a team headed by the former Accountant General to evaluate the manner in which, according to the current concession, the replacement value of DSW’s tangible assets would be calculated, assuming that these assets would be returned to the government at the end of the concession period. The determination date of the actual calculation is only at the end of the concession period. As far as the Company is aware, this evaluation was not completed.

On September 16, 2024, a draft report was published by Israel’s Accountant General for public comments regarding the transition of ICL’s existing concession in 2030 and the grant by the State of a new concession in 2030. The draft report is not a binding document, and its conclusions may change following public comments, including comments made by the company, and the receipt of additional information.

The draft report recommends maintaining the existing payment regime which is comprised of three ongoing sources of income for the State: royalties, corporate tax and surplus profit levy. It suggests that the State’s annual share should be approximately 50% on a multi-year average basis.

According to the draft report, the tender may incorporate a minimum price, as recommended by the Naveh Report, taking into consideration the Company’s right of first refusal in accordance with Section 25 of the Concession Deed. The minimum price is not specified in the draft. The draft also recommends that the new concession be granted for a period of more than 25 years.

In addition, the draft includes environmental considerations in formulating guidelines for the new concession, including limiting the area of the concession and dealing with infrastructure requirements, as well as specifying required rehabilitation efforts due to long-term environmental considerations. To encourage efficient use of the resources, the draft proposes imposing additional costs and regulatory obligations on the future concession holder, such as payment for quarries and groundwater. It also proposes that the definition of "natural resource" be expanded to include other minerals that may be extracted from the Dead Sea in the future.

In November 2024, the Company submitted its comments as part of the public process.

On March 11, 2025, the State Comptroller published an audit report regarding the State’s regulators oversight over compliance and regulatory aspects of the Dead Sea concession, in the areas of environment and land ("the Report"). The Report includes findings indicating regulatory deficiencies in the State authorities' oversight of the Dead Sea concession. The Report did not directly audit DSW and clarified that the findings do not imply any reduction in DSW’s contributions to the development of the Negev region and the State. The Report emphasizes the intention to guide decision-makers in shaping the future concession agreement towards the end of the current concession in 2030. The Company is currently studying the details of the Report.

The consolidated Financial Statements were prepared under management's assumption that it is more likely than not that DSW will continue to operate the relevant assets for their remaining useful lives, which extends beyond the term of the current concession period, by obtaining a renewed concession or by operating the assets for an alternative holder.

Royalties

In consideration of the concession, DSW pays royalties to the State of Israel calculated at a rate of 5% of the value of the products at the plant gate, less certain expenses.

DSW has granted a sub‑concession to Dead Sea Bromine Ltd. to produce bromine and its compounds from the Dead Sea, the expiration date of which is concurrent with DSW’s concession. The royalties in respect of the products manufactured by Dead Sea Bromine are received by DSW which then pays them to the State of Israel. Royalties are also paid by Dead Sea Magnesium based on carnallite (the raw material for potash) used in its production of magnesium.

(2) Rotem Amfert Israel (hereinafter – “ICL Rotem”)

ICL Rotem has been mining phosphates in the Negev in Israel for more than sixty years. Mining is conducted in accordance with phosphate mining concession, which is granted as required by Israel’s Ministry of Energy under the Mines Ordinance, by the Supervisor of Mines, as well as mining authorizations issued by the Israel Lands Authority (hereinafter – the Authority). The concession relates to quarries (of phosphate rock), whereas the authorizations cover the use of land as active mining areas.

Mining Concession and Licenses

On December 29, 2024, ICL Rotem was granted a new mining concession which includes the fields of Rotem, including Hatrurim, Zafir Field, and Oron-Zin, as well as Oron north, for a period of 20 years, effective January 1, 2025, until December 31, 2044, and only as long as mining can be conducted on a commercially viable basis, following a competitive process that was held by Israel’s Ministry of Energy and Infrastructure. The new concession replaces ICL Rotem’s current mining concession, which was valid until the end of 2024. As in the prior concession, the Company undertook, among other things, to assure that Rotem meets its existing obligations to rehabilitate its mining and plants areas according to outlined requirements attached to the new concession, in addition to a bank guarantee issued by ICL Rotem in the amount of about $16 million.

Recently, a petition was filed with Israel’s Supreme Court in connection with the new concession against the competitive process and the disclosure certificate issued to the Company in connection with this process. Along with the petition, a preliminary request was filed with the Supreme Court for an interim order to freeze the granting of the concession to ICL Rotem until the Supreme Court's final decision. The Supreme Court rejected the preliminary request stating that there is no basis for issuing an interim order. A hearing on the petition is scheduled for May 2025.

Lease Agreements

As of the reporting date, ICL Rotem has one lease agreement in effect until 2041, as well as two additional lease agreements, one for the Zin plant which expired in 2024, for which the Company is working on a renewal with the Israel Land Authority - Southern Region, and additional one for the Oron plant, which expired in 2017. Regarding the Oron plant, the Company has an agreement in principle with the Israel Land Authority - Southern Region regarding the expected issuance of a lease agreement until the end of 2025. Following the receipt of the new concession, the Company expects renewed lease agreements to be issued for a period that coincides with the new concession.

Mining Royalties

According to the terms of the concession, ICL Rotem is required to pay royalties to the State of Israel for mining Phosphate.

In accordance with the Mines Ordinance (Third Addendum A), the royalty rate for production of phosphates is 5% of the value of the quarried material. In 2021, the Ministry of Energy issued an amendment to the Third Addendum A, which anchors and clarifies the basis for calculating royalty components.

Zoning

The mining and quarrying activities require a zoning approval of the site based on a plan in accordance with Israel’s Planning and Building Law, 1965. Such plans are updated, as needed. As of the reporting date, there are several requests at various stages of deliberation pending for consideration by planning authorities.

Zin-Oron area - In 2016, the Southern District Committee for Planning and Construction approved a detailed site plan for mining phosphates in the Zin‑Oron area (hereinafter – the Plan). The Plan, which covers an area of about 350 square kilometers, will permit the continued mining of phosphate located in the Zin valley and in the Oron valley for a period of 25 years or until the exhaustion of the raw material – whichever occurs first, with the possibility of an extension (under the authority of the District Planning Board). In addition, as part of the Plan, the Company is in the final stages of approving a specific mining plan for the northern Oron area, which includes 0.3 square kilometers.

Rotem's phosphate rock reserves

The Company is promoting a plan to mine phosphates in the Barir field, located in the southern part of the South Zohar deposit in the Negev Desert. In 2015, the National Planning and Building Council (hereinafter – the National Council) approved a Policy Document regarding Mining and Quarrying of Industrial Minerals, which included a recommendation to permit phosphate mining in the South Zohar deposit and to advance a detailed National Outline Plan for the Barir field mining site. According to the recommendation of the National Council, the government’s Housing Cabinet approved the National Outline Plan (hereinafter - NOP 14B).

In 2018, the Minister of Health filed an appeal against the said approval, requiring compliance with the Ministry of Health’s recommendation to conduct a survey regarding the health impact at each site included in NOP 14B. As part of a discussion in the Housing Cabinet regarding the appeal, it was decided, with the consent of the Ministries of Health, Finance and Energy, to remove the appeal and to approve NOP 14B, which was subsequently formally published.

In addition, it was decided to establish a team with representatives from the Treasury, Health, Transportation, Environmental Protection and Energy ministries (hereinafter – The Inter-ministerial Team), which will present a report to the Housing Cabinet that includes health aspects for NOP 14B.

In 2018 and 2019, petitions were submitted to Israel’s Supreme Court by the municipality of Arad and by residents of the Bedouin community in the "Arad Valley" against the National Council, the Government of Israel and ICL Rotem, to revoke the approval of NOP 14B and to order the National Council to discuss the NOP directives, while giving proper weight to the health risk.

In 2020, the Inter-ministerial Team reached an outline agreement regarding the examination of the health aspects of NOP 14B, which, according to the State, constitutes an appropriate response for the review of potential health hazards on which the petitions focus.

In 2021, the Supreme Court of Justice decided to reject the petitions following a preliminary decision by the National Planning and Building Council to incorporate the main points of the outline agreement in the provisions of NOP 14B.

At the end of 2021, the Housing Cabinet re-approved the amended NOP 14B, following which the former Minister for Environmental Protection submitted a request for a government review of past decisions prior to promoting the Detailed NOP for the Barir feild. In accordance with the decision of the Ministry of the Interior, a deliberation of the matter should have been held by July 2022. As of the reporting date, the deliberation has not yet occurred.

The Company held numerous discussions and made multiple written inquiries to the relevant regulators in order to promote the deliberation regarding the advancement of the Detailed NOP for the Barir field.

On February 24, 2025, the Company approached the Government of Israel and the National Planning and Building Council with a pre-emptive request, prior to filing a petition, demanding to advance the Barir Detailed NOP with no delay. This request was submitted due to the Government's failure to advance the plan, as presented by the Government to the Supreme Court, despite the rejection of all petitions against the promotion of this NOP, which was supported by the Israeli government through its relevant ministries, by the Supreme Court.

According to the Company's assessment, the estimated useful life of Rotem's phosphate rock reserves, suited for its specialty products, in its existing mining areas is limited. The Company is making efforts to promote suitable alternatives for additional resources that will secure its future phosphate operations at ICL Rotem. As part of these efforts, the Company continues to advance several pilot development projects, some of which have been successful, to adapt the usage of different grade types of phosphate rock for the Company’s products as part of an effort to utilize and increase existing phosphate reserves. In addition, it is working to advance future mining of phosphate rock in other areas, subject to permits and approvals.

The Company estimates that it is more likely than not that it will be able to continue its phosphate operations at ICL Rotem by obtaining the required additional resources within a time frame that is not expected to materially impact the Company's results. Nevertheless, there is no certainty regarding the extent of future phosphate rock resources in other areas, or that the Company will succeed in obtaining the required approvals and permits for them, and, even if they are granted, the timing at which they will be received. Also, there is no certainty that the development of pilot projects will succeed in utilizing and increasing existing phosphate reserves or that they will be economically viable. Failure to obtain the additional resources, or a significant delay in obtaining them, may lead to discontinued production at Rotem, and, as a result, to a material impact on the Company's business, financial position and results of operations.

Other regulations

•

Emission Permit - In January 2024, a new emission permit was issued to ICL Rotem under the Israeli Clean Air Act (hereinafter - the Law) valid until January 2031. The Company is in active discussions with Israel’s Ministry of Environmental Protection (MoEP) to assure adherence to all conditions outlined in the permit, including those specified in an administrative order under Section 45 of the Law, and to achieve satisfactory resolutions to notable timeline execution challenges for a limited number of projects.

•

Phosphogypsum storage - In 2021, a new Urban Building Plan was approved (the 2021 plan), the main objectives of which are to regulate areas for phosphogypsum storage reservoirs. Due to the ambiguity of the guidelines regarding the calculation of building permit fees, the Company signed a settlement agreement with the Tamar Regional Council in August 2023 which had no material impact on the Company's financial results.

Regarding the phosphogypsum waste ponds, under the 2021 plan, Pond 5, which has been operational since 2018, is permitted for use until the end of its expected operational life (currently expected in 2026). The District Committee for Planning and Construction (the Committee) has approved the submission of a plan to reuse Pond 4 under certain conditions as a replacement for Pond 5 upon the end of its operational life. However, objections were filed by certain Israeli authorities and others. In January 2025, the Committee held a hearing requesting additional information, including from the Company, before proceeding with deliberations. The Company believes that it is more likely than not that a solution for future phosphogypsum waste treatment will be found.

(3)

ICL Iberia – a subsidiary in Spain

ICL Iberia was granted mining rights based on legislation of Spain’s Government from 1973 and the regulations accompanying this legislation. Pursuant to the special mining regulations, ICL Iberia received individual licenses for each of the 126 different sites that are relevant to current and future mining activities. Some of the licenses are valid until 2037 and the remainder are effective until 2067.

ICL Iberia operates a potash production center in Suria which requires, among other things, an environmental mining license and an urban license. Up to 2020, ICL Iberia operated two potash production centers in Suria and Sallent, but as part of an efficiency plan, the Company consolidated its activities into one site by expanding the Suria production site and discontinuing potash production at the Sallent site.

ICL Iberia holds an urban license for the Suria site, as well as an environmental mining license that complies with new environmental protection regulations in Spain (Autoritzacio Substantive). In 2021, an updated environmental mining license and an environmental impact assessment, as well as new urban permits were granted, which allows higher volume processing and expanded capacity of the salt mountain at Suria.

In 2022, an Urban Master Plan was modified to allow increased piling capacity of an additional ten million tonnes of salt which will enable piling of salt in future years until the evacuation solution by a new collector is applied. For further information, see Note 18(A)(3) above. The restoration plan for the Suria site, which includes a plan for dealing with the salt piles and dismantling facilities, is scheduled to continue until 2095.

In July 2024, the Urban development Plan was approved, allowing for the application of a work license. An Environmental Impact Assessment (EiA), which was published on December 2, 2024, for public comments, is still in progress. Final approval of the EiA is expected to be issued in the first half of 2025.

(4)

United Kingdom

A.

ICL Boulby, ICL's subsidiary in the UK, holds onshore and offshore mineral leases and licenses, allowing for the extraction of diverse minerals, in addition to numerous easements and rights of way from private landowners. The offshore mineral field is leased from The Crown Estate on a production royalty basis and includes provisions to explore and exploit all targeted and known polyhalite and salt mineral resources of interest to ICL Boulby.

ICL Boulby has been actively engaged in negotiations with the private property owners and has recently secured the renewals of three existing lease agreements.

The renewal of eight of the remaining leases was referred to the High Court of Justice in London for a decision regarding the calculation mechanism. The Company estimates that the proceedings will be concluded by the end of 2025. These leases, along with two additional leases, which are still being negotiated, will continue to operate under the terms of the previous leases.

Historically, the renewal of leases has not been problematic. ICL Boulby believes that all land and mineral leases will be renewed, as required, and expects to have or obtain all government approvals and permits necessary for exploiting all targeted mineral resources.

In 2022, the North York Moor National Planning Authorities (hereinafter - NYMNPA) granted planning permission for Polyhalite and salt extraction until 2048. To comply, ICL Boulby was required to produce management plans for NYMNPA approval. As of the reporting date, all required plans are completed and approved.

With respect to the mining royalties, ICL Boulby pays royalties of 2.1%, which in 2024 amounted to $2.2 million.

B.

UK subsidiary within the Growing Solutions segment (hereinafter – Everris Limited) owns peat mines in the UK (Creca, Nutberry and Douglas Water). Peat is used as a component in the production of professional growing media. Extraction permits for Creca were granted until the end of 2051, and the site is currently operative. However, mining activity in Nutberry and Douglas Water ceased in 2024, following the expiration of their permits. Restoration at these sites has commenced.

(5)

YPH - China

Mining Concessions

YPH, ICL's subsidiary in China, which is equally owned with Yunnan Yuntianhua Corporation Ltd. ("YYTH"), holds a phosphate mining license that was issued in 2015 by the Division of Land and Resources of the Yunnan district in China for the Haikou Mine (hereinafter – Haikou) which is valid until January 2043.

Grant of Mining Rights to Lindu

In 2016, a subsidiary of YYTH (hereinafter – YPC) issued a statement whereby in 2010 it entered into agreements with the local authority of Jinning County, Yunnan Province, and Jinning Lindu Mining Development and Construction Co. Ltd. (hereinafter - Lindu Company), according to which Lindu Company is permitted to mine up to two million tonnes of phosphate rock from a certain area measuring 0.414 square kilometers within the area of the Haikou mine and to sell such phosphate rock to any third party at its own discretion.

In accordance with a recent settlement reached between the parties, the dispute over the mining rights at the Haikou site has been resolved to the satisfaction of the parties. Pursuant to the settlement, YPH will be compensated by YPC within 3-5 years for the quantity extracted from the mine, up to two million tonnes of phosphate ore, while ensuring fairness and compliance with the contractual obligations.

Natural Resources Royalties

With respect to the mining rights, in accordance with China "Natural Resources Tax Law", YPH pays royalties of 8% on the selling price based on the market price of the rock prior to its processing. The total royalties paid in 2024 were about $4.3 million.

C.

Contingent liabilities

(1)

Ecology

A.

In June 2022, an unexpected flow of brine was discovered above ground at the outskirts of an alluvial fan area, which, according to initial assessment by the Company, appears to have resulted from a combination of seepage from the feeder canal of ICL Dead Sea’s pumping station P-9 (hereinafter P-9) and unique ground conditions, which, according to the Company's estimation, does not exceed the approved design specifications of P-9. The Company installed sealing sheets over an approximately 2km long section of the 15km feeder canal in the area of the fan, according to the instruction of Israel's Nature and Parks Authority.

Following the event, a hearing process was held during which the District Manager of the Ministry of Environmental Protection (MOE) recommended to open an investigation by the Green Police. To the best of the Company’s knowledge, the Green Police initiated an investigation, the results of which cannot be estimated. As of the reporting date, the Company reached an understanding with the MOE regarding the implementation of remaining corrective requirements.

B.

In 2017, the Israeli Water Law was amended, according to which saline water of the kind produced for Dead Sea plants by the Company's own water drilling is charged with water fees. In October 2021, as a response to the Company’s objection to the charges relating to water drilling within the concession area, the Water Authority informed the Company that water fees will not be charged for water production within the concession area. This decision was based on the opinion of the Ministry of Justice, according to which the royalties arrangement established in the Dead Sea Concession Law, 5771-1961, is the sole arrangement for collecting payment for the right to extract water in the concession area, and, therefore, it is not legally possible to impose additional charges for water fees in addition to the royalties (hereinafter – the Opinion). In September 2022, the Company was presented with two petitions filed in Israel’s Supreme Court, one by Adam Teva V’Din, and the second by Lobby 99 Ltd., against the Water Authority, Israel’s Attorney General, the Ministry of Justice, Mekorot Water Company Ltd. and the Company.

As part of the petitions, the petitioners requested that the Supreme Court rule that the opinion is incorrect and, therefore, the Company should be obliged to pay water fees for water extracted from wells in the concession area in addition to the payment of royalties beginning from the date of the amendment to the Water Law enacted in 2018. Accordingly, the petitioners requested that the Supreme Court order the Water Authority to collect water fees from the Company for the period between 2018-2020, which according to one of the petitioners, allegedly amounts to $24 million. In October 2022, a decision was made to hold a consolidated hearing regarding both petitions. In May 2023, the Supreme Court imposed a conditional order, instructing the State to justify why ICL should not be required to pay water fees for water produced within the concession area. On July 15, 2024, after the State's response was submitted, a hearing was held in which the court requested clarification on certain issues. In November 2024, all parties submitted their response to the Court’s request. The Company rejects the claims made in the petitions and believes it is more likely than not that its position will be accepted.

C.

In 2021, a decision was rendered by the Israel Water Authority, despite the Company's objection, that the Company's status should be changed to a "Consumer-Producer", as defined in the Water Law, commencing with the Water Authority's production license, issued to the Company for 2021. In December 2023, after the Company’s appeal was rejected by the Water Court, the Company appealed against this decision to the Supreme Court. Following the Israel Water Authority's response to the appeal, a hearing was set for March 2025. The Company has made sufficient provision in its financial statements.

Concurrently, in 2022, the Movement for the Quality of Government in Israel (hereinafter - MQG) filed an appeal in which the Water Court was petitioned to compel the Water Authority to apply the change in classification of the Company as early as 2018. In January 2024, the Water Court accepted the Company's request that the procedure regarding the appeal by MQG should be delayed until a final decision is rendered from the Supreme Court on the Company’s appeal relating to the "Consumer-Producer" status. The assessment of the Company is that it is more likely than not that the appeal filed by MQG will be rejected.

D.

In 2020, an application for a class action was filed in the Beer Sheva District Court in Israel against the Company, the Company's subsidiary, ICL Rotem, and certain of the Company's present and past officeholders, by a number of local residents in the Arava region in the south of Israel (hereinafter – the Applicants). The Applicants claim that discharge, leakage and seepage of wastewater from ICL's Zin site allegedly caused various environmental hazards to the Zin stream, which resulted in damage to various groups in Israel’s population, including: the Israeli public as the Zin stream property owners; those who avoided visiting Zin stream due to the environmental hazards; visitors of Zin stream who were exposed to the aforementioned hazards and the residents of the area near Zin stream who were affected by the hazards. Accordingly, the Applicants request several remedies, including restitution and compensation for the damage that they claim was caused to the various groups in a minimum amount of NIS 3 billion (approximately $933 million), the majority of which relates to compensation for claimed consequential damages.

In November 2022, the parties signed a procedural arrangement to resort to a mediation process in an attempt to settle the dispute outside of court. The Nature and Parks Authority (hereafter - NPA), which was not a party to the original application, also signed the agreement, and by virtue of it, it joined the mediation process. As a result, all proceedings before the court, including requests for temporary relief, were suspended. As part of the procedural arrangement, the transfer of approximately 3 million NIS from the Company to NPA was made for funding NPA’s rescue operations of palm trees at Neot Zin and Akrabim.

The Company rejects all the said allegations. Considering the preliminary stage of the proceeding and the lack of precedents for such cases in Israel, including the related insurance aspects, and in light of the transition to a mediation procedure, it is difficult to estimate its outcome. No provision has been recorded in the Company's financial statements.

E.

In July 2019, an application for approval of a claim as a class action was submitted to the Jerusalem District Court by an Israeli environmental association (hereafter - the Applicant) against 30 defendants, including Fertilizers and Chemicals Ltd., a subsidiary of the Company (hereinafter – the Respondents). The application includes claims relating to air pollution in Haifa Bay (located in northern Israel) and to alleged illness therefrom to the population of the said area.

Within the framework of the petition, the Applicant requests declarative relief and the establishment of a mechanism for compensation awards, without specifying their amount, or alternatively, for splitting remedies to allow each group member to sue for damages in a separate proceeding. In January 2022, the Company filed its objection to the petition. Considering the limited precedents of such cases in Israel, it is difficult to estimate the outcome of the proceeding. No provision has been recorded in the Company's financial statements.

F.

In 2018, an application for certification of a claim as a class action was filed with the Be’er Sheva District Court by two groups: the first class constituting the entire public of the State of Israel and the second-class constituting visitors to the Bokek stream and the Dead Sea (hereinafter – the Applicants), against the Company’s subsidiaries, ICL Rotem and Periclase Dead Sea Ltd. (hereinafter – the Respondents).

According to the claim, the Respondents have allegedly caused continuous, severe and extreme environmental hazards through pollution of the “Judea group – Zafit formation” groundwater aquifer (hereinafter – the Aquifer) and the Ein Bokek spring with industrial wastewater, and, in doing so, the Respondents have violated various provisions of property law and environmental protection law, including the provisions of the Law for Prevention of Environmental Hazards and the Water Law, as well as violations relating to the Torts Ordinance – breach of statutory duty, negligence and unjust profits. The leakage began in the 1970’s during which time the Company was government-owned and ended by 2000.

As a result, the Court was requested to order the Respondents to eliminate the proprietary violation in reference to the Aquifer and Bokek stream by restoration thereof and to pay the public compensation in an estimated amount of NIS 1.4 billion (about $435 million).

In April 2022, the Be'er Sheva District Court dismissed in limine the application due to the statute of limitations and property rights. In October 2023, Israel's Supreme Court rendered its ruling in the appeal, dismissing the plaintiffs claim regarding property rights, and therefore dismissing the application for certification of the entire public of the State of Israel, yet accepted the appeal with regards to the statute of limitations claim, and ruled that application for certification is approved regarding a limited class constituting visitors to the Bokek stream. In accordance therewith, the application for certification limited so such group will be reviewed by the District Court.

With the renewal of the proceedings in the District Court, the plaintiffs filled a request for interim relief regarding the restoration of the Bokek stream to which the Court ordered the State to respond. In September 2024, the State filed its response to the motions for temporary relief measures. According to the response, a distinction must be made between the question of responsibility and the question of how the remedies for formulating the rehabilitation solutions are being carried out, with the latter not being under the Court’s jurisdiction but rather in the hands of the State’s certified parties. Regarding the question of responsibility, the State supports the plaintiff’s position.

In addition, in September 2024, the parties reached a deliberative arrangement by which the parties will pursue an agreed mechanism for the improvement of the water flow in the reserve. In addition, it was determined that evidence hearings will be held from May to July 2025.

Since the judgement of the Supreme Court mainly addressed preliminary questions, without discussion of the Respondent's responsibility and the amount of the damage, and even explicitly stated that certain questions remained open in the judgment of the District Court and were not decided by the Supreme Court, it is difficult to estimate the proceeding’s outcome. No provision has been recorded in the Company's financial statements.

G.

In 2015, a request was filed for certification of a claim as a class action, in the Tel Aviv-Jaffa District Court, against eleven defendants, including a subsidiary, Fertilizers and Chemical Ltd., in respect of claims relating to air pollution in Haifa Bay and for the harm allegedly caused by it to residents of the Haifa Bay area. The amount of the claim is about NIS 13.4 billion (about $4.2 billion). Evidence hearings were held during the first half of 2024. In the Company’s estimation, based on the factual material provided to it and the relevant court decision, it is more likely than not that the plaintiffs’ contentions will be rejected.

(2)

Increase in the level of the evaporation pond in Sodom (hereinafter – Pond 5)

Minerals from the Dead Sea are extracted through solar evaporation, whereby salt precipitates onto the bed of Pond 5, located at one of DSW's sites. The precipitated salt creates a layer on the Pond 5 bed of approximately 15 million cubic meters per year. The production process of the raw material requires the brine volume in Pond 5 to be preserved. Failure to maintain a constant volume of brine in Pond 5 could result in a reduction of production capacity.

In addition, a rise in the water level of Pond 5 above a certain point may cause structural damage to the foundations of hotel buildings situated close to the water’s edge, to the settlement of Neve Zohar, and to other infrastructure that is located along the western shoreline of Pond 5. The preservation of the water level in Pond 5 at a maximum height (15.1 meters), which was reached at the end of 2021, was achieved through a joint project of the Dead Sea Preservation Government Company Ltd. and DSW (which financed 39.5% of the project's cost) by constructing coastline defenses. The project included raising the dyke along the western beachfront of Pond 5 across from the hotels together with a system to lower subterranean water. Construction work with respect to the hotels' coastline has been completed, and elevation work in the intermediate area between two hotel complexes has been conducted by the Dead Sea Preservation Government Company Ltd. and is nearing completion.

Commencing in 2022, the brine volume in Pond 5 has been preserved through the salt harvesting project ("the Permanent Solution"), the plan for which was approved by the National Infrastructures Committee and the Israeli Government and includes the construction of the P‑9 pumping station. As of the reporting date, the water level of Pond 5 has not exceeded its maximum height.

The Permanent Solution to raise the water level in Pond 5 was established in an agreement with the Government of Israel in 2012, aiming to provide a solution at least until the end of the current concession period in 2030. The purpose of the agreement is to stabilize the pond level at a fixed level by harvesting salt from the pond and transferring it to the Northern Basin of the Dead Sea. According to the agreement, the planning and execution of the Permanent Solution will be performed through the Salt Harvesting Project by DSW. In addition, the agreement stipulates that from January 1, 2017, the water level in the pond will not rise above 15.1 meters. Nevertheless, in the event of a material deviation from the project's timetables resulting from exceptional planning requirements or judicial decisions, without the Company having violated its obligations, the Company will be permitted to request raising the water level.

The Company and the State of Israel bear 80% and 20%, respectively, of the cost of the Permanent Solution. However, the State's share will not exceed NIS 1.4 billion.

(3) In March 2021, an application for a class action was filed with the Tel Aviv-Jaffa District Court against the Company, Israel Corporation Ltd. and the controlling shareholder of Israel Corporation (hereinafter – the Respondents). The application includes a series of allegations concerning, among others, alleged misleading and violation of the Company’s reporting and disclosure obligations to the public under the Israeli Securities Law, 5728-1968, relating to the implications of the royalties' claim filed in 2011 by the State of Israel against the Company’s subsidiary, Dead Sea Works Ltd., pursuant to the Dead Sea Concession Law, 5721-1961, which was conducted and concluded through an arbitration proceeding. The applicant is a shareholder of the Company asking to act on behalf of a represented class including all those who acquired Company shares or Israel Corp. shares and held them between August 17, 2011, and May 27, 2014. According to the application, this group allegedly incurred damages by the Respondents, and accordingly, the Court is requested to rule in favor of the group’s members who are shareholders of the Company, and award damages in the amount of about NIS 133 million (about $40 million) and in favor of group members who are shareholders of Israel Corp. an additional amount of NIS 57 million (about $17 million), as of May 27, 2014.

In October 2024, the Tel Aviv District Court rejected this motion, including the applicant’s claim of misleading Company reports, ruling that no damage had been caused, and that the motion’s claims exceeded their statutes of limitations. The Court also ordered the plaintiff to cover part of the Respondents’ expenses, on the grounds that after investigation, the motion was found to be baseless and had multiple difficulties.

(4) In connection with the Harmonization Project (to create one global ERP system) which was discontinued in 2016 by a decision of the Company's Board of Directors, in December 2018, the Company filed a lawsuit in the Tel Aviv District Court against IBM Israel, the leading project provider (hereinafter – IBM), in the amount of $300 million (about a billion NIS) for compensation of damages incurred to the Company due to IBM’s failure to meet its undertakings within the Project, which led to the failure of the Project.

In March 2019, IBM filed its statement of defense, together with a counterclaim against the Company, according to which IBM claims that ICL allegedly refrained from making certain payments, conducted negotiations in bad faith, and terminated the project unilaterally, in a way that harmed IBM's reputation and goodwill and therefore claims an amount of about $53 million (about ILS 170 million), including VAT and interest. In June 2019, the Company filed a statement of defense with respect to the counterclaim in which the Company rejected all of IBM's claims.

In January 2021, IBM filed a request for dismissal including the deletion of the remedies claimed by the Company arising from the termination of the agreement between the parties, which was rejected by the Court in March 2022.

In August 2021, the Company filed a request to delete IBM's statements of claim, on the grounds that IBM acted in order to delay, burden and disrupt a professional expert's work, and thus to impair the documents discovery process. In March 2022, the Court rejected the request.

In September 2024, a concluding pre-trial hearing was held in which it was decided, among other things, to appoint an expert on behalf of the court. In February 2025, the Court notified that it was considering appointing an expert on its behalf and determined that the parties should submit a joint statement by March 2025, which will include the expert's response to the agreed list of questions.

On March 6, 2025, the parties have notified the Court that they agreed to enter into a mediation process in an attempt to resolve the disputes between them.

Considering the complexity of the claims and in light of the transition to a mediation procedure, it is difficult to estimate the outcome. Nevertheless, the Company believes it is more likely than not that IBM's claims in its counterclaim will be rejected.

(5) In December 2018, an application for certification of a class action was filed with the Tel Aviv District Court against the Company, Israel Corporation, and office holders, including directors who held office during the said dates which are stated in the application, with respect to the manner in which the IT (the Harmonization) project was managed and terminated. According to the allegations made in the application, the Company failed to properly report negative developments which occurred on certain dates during the said IT project, and such failure caused the Company immense financial damages.

In February 2024, following a mediation process, the parties signed an agreement for a non-material amount which was covered in full by insurance. The settlement agreement was approved by the District Court and in July it was granted the force of a judgement.

(6) In July 2018, an application for certification of a class action was filed with the Central District Court against the Company alleging that the Company exploited the Defendants' monopolistic position to charge consumers in Israel excessive and unfair prices for products classified as "solid phosphate fertilizer" between 2011 and 2018, contrary to the provisions of the Restrictive Trade Practices Law, and unjust profits at the expense of the plaintiff and the represented group.

The represented group includes all the consumers who purchased, directly or indirectly, solid phosphate fertilizer products manufactured by the Defendants, or farming produce fertilized with solid phosphate fertilizer or food products that include such farming produce as stated above, in the years 2011-2018 (hereinafter – the Represented Group).

According to the statement of claim, the plaintiff requests, among other things, that the Court rules in his favor and in favor of the Represented Group, awarding them compensation for the damages allegedly caused to them, in the total amount of about $17 million. In January 2024, the parties signed a settlement agreement involving negligible amounts and in February 2024 submitted it to the District Court for approval. In May 2024, the District Court approved the settlement and granted it the force of a judgment.

(7) In addition to the contingent liabilities, as stated above, as of the reporting date the contingent liabilities regarding the matters of environmental protection and legal claims which are pending against the Group are in immaterial amounts. It is noted that part of the above claims is covered by insurance. According to the Company’s estimation, the provisions recognized in its financial statements are sufficient.

Equity

12 Months Ended

Dec. 31, 2024

Equity [abstract]

Equity

Note 19 – Equity

A.

Composition:

	As of December 31, 2024		As of December 31, 2023
	Authorized	Issued and paid	Authorized	Issued and paid

Number of ordinary shares of Israeli Shekel 1 par value (in millions)	1,485	1,315	1,485	1,314

Number of Special State shares of Israeli Shekel 1 par value	1	1	1	1

(*) For information regarding the amount of treasury shares, see Note 19.G.

The reconciliation of the number of shares outstanding at the beginning and end of the year is as follows:

Number of Outstanding Shares (in millions)

As of January 1, 2023	1,314
Issuance of shares	-
As of December 31, 2023	1,314
Issuance of shares	1
As of December 31, 2024	1,315

B.

Rights conferred by the shares

(1)

The ordinary shares grant their holders voting rights in General Meetings of the Company, the right to participate in shareholders’ meetings, the right to receive dividends and the right to a share in excess assets upon liquidation of ICL.

(2)

The Special State of Israel Share, is held by the State of Israel for the purpose of monitoring matters of vital interest to the State of Israel, grants special rights to make decisions, among other things, on the following matters:

-

Sale or transfer of company assets, which are “essential” to the State of Israel, not in the ordinary course of business.

-

Voluntary liquidation, change or reorganization of the organizational structure of ICL or merger (excluding mergers of entities controlled by ICL, directly or indirectly, that would not impair the rights or power of the Government, as holder of the Special State Share).

-

Any acquisition or holding of 14% or more of the issued share capital of ICL.

-

The acquisition or holding of 25% or more of the issued share capital of ICL (including augmentation of an existing holding up to 25%), even if there was previously an understanding regarding a holding of less than 25%.

-

Any percentage of holding of the Company’s shares, which grants its holder the right, ability or actual possibility to appoint, directly or indirectly, such number of the Company’s directors equal to half or more of the Company’s directors appointed.

In 2018, an inter-ministry team was established, headed by the Ministry of Finance, whose purpose is, among other things, to regulate the authority and supervision in respect of the Special State of Israel Share, as well as reduce the regulatory burden. In 2019, the work of this team was suspended until further notice due to the dissolution of the Knesset and lack of permanent Government. The Company is unable to estimate when or whether such team will recommence and what are the implications of this process over the Company, if any.

C.

Share-based payments

1.

Non-marketable options

Grant date	Employees entitled	Number of instruments (thousands)	Issuance's details	Instrument terms	Vesting conditions	Expiration date
June 30, 2016	Officers and senior employees	3,035	An issuance of non-marketable and non-transferrable options, for no consideration, under the 2014 Equity Compensation Plan, as amended in June 2016 (hereinafter – the amended 2014 Equity Compensation Plan).	Upon exercise, each option may be converted into one ordinary share of NIS 1 par value of the Company.	3 equal tranches: (1) one third at the end of 12 months after the grant date (2) one third at the end of 24 months after the grant date (3) one third at the end of 36 months after the grant date	June 30, 2023
September 5, 2016	Former chairman of BOD	186				June 30, 2023
February 14, 2017	Former CEO	114				February 14, 2024
June 20, 2017	Officers and senior employees	6,868				June 20, 2024
August 2, 2017	Former chairman of BOD	165				June 20, 2024
March 6, 2018	Officers and senior employees	5,554				March 6, 2025
May 14, 2018	CEO	385				May 14, 2025
August 20, 2018	Former chairman of BOD	403				August 20, 2025
April 15, 2019	Officers and senior manager	13,242			2 equal tranches: (1) half at the end of 24 months after the grant date. (2) half at the end of 36 months after the grant date.	5 years after the grant date
June 27, 2019	CEO	3,512
May 29, 2019 *	Chairman of BOD	2,169
June 30, 2021	Senior employees	647
February 8, 2022	Senior employees	9,294			3 equal tranches: (1) one third at the end of 12 months after the grant date (2) one third at the end of 24 months after the grant date (3) one third at the end of 36 months after the grant date
March 30, 2022	CEO	1,941
March 30, 2022	Chairman of BOD	1,055
February 14, 2023	Senior managers	461
April 4, 2024	Officers and senior managers	12,333

*

The options were issued upon Mr. Doppelt's entry into office on July 1, 2019.

Additional Information

The options issued to the employees in Israel are covered by the provisions of Section 102 of the Israeli Income Tax Ordinance. The issuance is performed through a trustee under the Capital Gains Track. The exercise price is linked to the known CPI as of the date of payment, which is the exercise date. When the Company distributes a dividend, the exercise price is reduced on the “ex dividend” date, by the amount of the dividend per share (gross), based on the amount in NIS thereof at the effective date.

The fair value of the options granted in 2014, as part of the amended 2014 Equity Compensation Plan, was estimated using the binomial model for pricing options. The fair value of all other options was estimated using the Black & Scholes model for pricing options. The parameters used in applying the models are as follows:

	2014 Plan
	Granted 2016	Granted 2017	Granted 2018	Granted 2019	Granted 2021	Granted 2022	Granted 2023	Granted 2024

Share price (in $)	3.9	4.5	4.4	5.4	6.8	10.0	7.7	5.1
CPI-linked exercise price (in $)	4.3	4.3	4.3	5.3	7.1	10.1	7.6	5.1
Expected volatility:
First tranche	30.51%	31.88%	28.86%	27.85%	31.70%	31.80%	35.84%	32.20%
Second tranche	30.51%	31.88%	28.86%	27.85%	31.70%	30.88%	34.15%	32.26%
Third tranche	30.51%	31.88%	28.86%	-	-	30.52%	33.77%	32.62%
Expected life of options (in years):
First tranche	7.0	7.0	7.0	4.4	4.4	3.2	3.1	3.1
Second tranche	7.0	7.0	7.0	4.4	4.4	3.8	3.7	3.7
Third tranche	7.0	7.0	7.0	-	-	4.0	3.9	3.9
Risk-free interest rate:
First tranche	0.01%	0.37%	0.03%	(0.67)%	0.43%	(1.46)%	1.49%	2.09%
Second tranche	0.01%	0.37%	0.03%	(0.67)%	0.43%	(1.29)%	1.43%	2.17%
Third tranche	0.01%	0.37%	0.03%	-	-	(1.21)%	1.43%	2.17%
Fair value (in $ millions)	4.0	11.3	8.8	7.5	0.6	24.9	0.9	15.4
Weighted average grant date fair value per option (in $)	1.1	1.6	1.4	1.2	1.3	2.0	2.0	1.3

The expected volatility was determined based on the historical volatility in the Company’s share prices in the Tel-Aviv Stock Exchange.

The expected life of the options was determined according to Management’s estimate of the period in which the employees will hold the options, taking into consideration their position with the Company.

The risk‑free interest rate was determined based on the yield to maturity of shekel‑denominated Israeli Government debentures, with a remaining life equal or similar to the anticipated life of the option.

The cost of the benefit embedded in the options and shares from the amended 2014 Equity Compensation Plan is recognized in the statement of income over the vesting period of each portion. Accordingly, in 2024, 2023, and 2022, the Company recorded expenses of $10 million, $7 million and $12 million, respectively.

The movement in the options are as follows:

	Number of options (in millions)

Balance as of January 1, 2023	15
Movement in 2023:
Exercised during the year	(1)
Total options outstanding as of December 31, 2023	14
Movement in 2024:
Granted during the year	12
Exercised during the year	(3)
Total options outstanding as of December 31, 2024	23

Subsequent to the date of the report

At the general meeting of shareholders, held on March 6, 2025, the shareholders approved a new three-year equity grant for the years 2025-2027 in the form of about 4.3 million non-marketable and non-transferable options for no consideration, under the Company’s 2024 Equity Plan, to ICL's newly appointed CEO and the Chairman of the Board. The vesting period of the options will be in three tranches, upon the lapse of 12 months, 24 months and 36 months from the grant date (March 6, 2025, for the Chairman of the Board and March 13, 2025, for the newly appointed CEO). The expiration date will be in March 2030. The aggregate fair value at the grant dates is about $7 million.

The exercise prices for options outstanding at the beginning and end of each period are as follows (in US dollar):

December 31, 2024

December 31, 2023

December 31, 2022

Granted in 2016	-	-	3.41
Granted in 2017	-	2.79	3.14
Granted in 2018	2.77	2.70	3.06
Granted in 2019	-	4.27	4.57
Granted in 2021	5.60	5.64	6.00
Granted in 2022	8.60	8.56	8.91
Granted in 2023	7.23	7.23	-
Granted in 2024	5.17	-	-

The number of outstanding vested options at the end of each period and the weighted average of the exercise price for these options are as follows (*):

December 31, 2024

December 31, 2023

December 31, 2022

Number of options exercisable (in Millions)	8	7	5
Weighted average exercise price in Israeli Shekel	30.36	22.57	15.67
Weighted average exercise price in US Dollar	8.33	6.22	4.45

(*) The share price as of December 31, 2024, is NIS 18.00 and $4.94.

The range of exercise prices for the options outstanding vested at the end of each period is as follows:

December 31, 2024

December 31, 2023

December 31, 2022

Range of exercise price in Israeli Shekel	10.12-31.38	9.46-34.30	10.77-30.06
Range of exercise price in US Dollar	2.77-8.60	2.70-9.81	3.06-8.54

The average remaining contractual life for the outstanding vested options at the end of each period is as follows:

December 31, 2024

December 31, 2023

December 31, 2022

Average remaining contractual life

3.24

2.59

3.42

D.

Dividends distributed to the Company's Shareholders

Date of dividend distribution by the Board of Directors

Actual date of dividend distribution

Gross dividend distributed

($ millions)

Dividend per share

(in $)

February 8, 2022	March 8, 2022	169	0.13
May 10, 2022	June 15, 2022	307	0.24
July 26, 2022	September 14, 2022	376	0.29
November 8, 2022	December 14, 2022	314	0.24
Total 2022		1,166	0.90
February 14, 2023	March 15, 2023	178	0.14
May 9, 2023	June 14, 2023	146	0.11
August 8, 2023	September 13, 2023	82	0.06
November 7, 2023	December 20, 2023	68	0.05
Total 2023		474	0.36
February 26, 2024	March 26, 2024	61	0.05
May 8, 2024	June 20, 2024	59	0.05
August 12, 2024	September 18, 2024	63	0.05
November 10, 2024	December 18, 2024	68	0.05
Total 2024		251	0.20
February 25, 2025*	March 25, 2025	52	0.04

(*) The record date is March 12, 2025, and the payment date is March 25, 2025.

E.

Cumulative translation adjustment

The translation reserve includes all translation differences arising from translation of foreign operations’ financial statements.

F.

Capital reserves

The capital reserves include expenses for share‑based compensation to employees against a corresponding increase in equity (See item C above) and change in investment at fair value through other comprehensive income.

G.

Treasury shares

In 2008 and 2009, 22.4 million shares were acquired by the Group under a purchase plan, for a total consideration of approximately $258 million. The total shares held by the Group is about 24.5 million.

Details of Income Statement Items

12 Months Ended

Dec. 31, 2024

Details Of Income Statement [Abstract]

Note 20 - Details of Income Statement Items

For the year ended December 31
2024	2023	2022
$ millions	$ millions	$ millions

Sales	6,841	7,536	10,015
Cost of sales
Materials consumed	2,341	2,547	3,152
Cost of labor	906	875	937
Energy and fuel	356	402	433
Depreciation and amortization	506	450	409
Other	476	591	52
	4,585	4,865	4,983

For the year ended December 31
2024	2023	2022
$ millions	$ millions	$ millions

Selling, transport and marketing expenses
Land and Marine transportation	722	714	792
Cost of labor	185	176	188
Other	207	203	201
	1,114	1,093	1,181
General and administrative expenses
Cost of labor	155	147	168
Professional Services	44	43	44
Other	60	70	79
	259	260	291
Research and development expenses
Cost of labor	52	56	55
Other	17	15	13
	69	71	68

For the year ended December 31
2024	2023	2022
$ millions	$ millions	$ millions

Other income
Contingent consideration	3	8	-
Rental Income	3	3	3
Insurance and energy tax refunds	3	2	15
Capital gain and profit from divestment	2	1	31
Employees benefits	2	-	-
Other	8	8	5
Other income recorded in the income statements	21	22	54
Other expenses
Provision for site closure, restoration costs and efficiency plan	24	45	6
Doubtful debts	14	2	1
Financial instrument at fair value	9	65	-
Provision for legal claims	4	1	17
Other	9	15	6
Other expenses recorded in the income statements	60	128	30

For the year ended December 31
2024	2023	2022
$ millions	$ millions	$ millions

Financing income and expenses
Financing income:
Net gain from changes in exchange rates	-	37	139
Financing income in relation to employee benefits	1	7	44
Interest income from banks and others	40	47	31
Net gain from change in fair value of derivative designated as economic hedge	-	-	-
Net gain from change in fair value of derivative designated as cash flow hedge	-	-	-
	41	91	214
Financing expenses:
Net loss from change in fair value of derivative designated as economic hedge	3	54	98
Net loss from change in fair value of derivative designated as cash flow hedge	10	25	77
Interest expenses to banks and others	153	167	148
Financing expenses in relation to employees' benefits	13	13	7
Banks and finance institutions commissions (mainly commission on early repayment of loans)	5	7	7
Net loss from changes in exchange rates	4	-	-
Financing expenses	188	266	337
Net of borrowing costs capitalized	7	7	10
	181	259	327

Net financing expenses recorded in the income statements	140	168	113

Financial Instruments and Risk Management

12 Months Ended

Dec. 31, 2024

Disclosure of detailed information about financial instruments [abstract]

Note 21 - Financial Instruments and Risk Management

A. General

The Company has extensive international operations wherein it is exposed to credit, liquidity and market risks (including currency, interest and other price risks). In order to reduce the exposure to these risks, the Company holds financial derivative instruments, (including forward transactions, SWAP transactions, and options) to reduce the exposure to foreign currency risks, commodity price risks, energy and marine transport and interest risks. Furthermore, the Company holds derivative financial instruments to hedge the exposure and changes in the cash flows.

The transactions in derivatives are executed with large Israeli and non-Israeli financial institutions, and therefore Company management believes the credit risk in respect thereof is low.

This Note presents information about the Company's exposure to each of the above risks, and the Company's objectives, policies and processes for measuring and managing risk.

The Company regularly monitor the extent of our exposure and the rate of the hedging transactions for the various risks described below. The Company execute hedging transactions according to our hedging policy with reference to the actual developments and expectations in the various markets.

B. Groups and measurement bases of financial assets and financial liabilities

As of December 31, 2024
Financial assets		Financial liabilities
Measured at fair value through the statement of income	Measured at amortized cost	Measured at fair value through the statement of income	Measured at amortized cost
$ millions

Current assets
Cash and cash equivalents	-	327	-	-
Short-term investments and deposits	-	115	-	-
Trade receivables	-	1,260	-	-
Other receivables	-	33	-	-
Foreign currency derivative designated as economic hedge	12	-	-	-
Foreign currency and interest derivative instruments designated as cash flow hedge	4	-	-	-
Non-current assets
Foreign currency and interest derivative instruments designated as cash flow hedge	3	-	-	-
Other non-current assets	-	20	-	-
Total financial assets	19	1,755	-	-
Current liabilities
Short term debt	-	-	-	(384)
Trade payables	-	-	-	(1,002)
Other current liabilities	-	-	-	(156)
Foreign currency derivative designated as economic hedge	-	-	(11)	-
Foreign currency and interest derivative instruments designated as cash flow hedge	-	-	(3)	-
Non-current liabilities
Long term debt and debentures	-	-	-	(1,909)
Foreign currency and interest derivative instruments designated as cash flow hedge	-	-	(4)	-
Other non- current liabilities	-	-	-	(41)
Total financial liabilities	-	-	(18)	(3,492)
Total financial instruments, net	19	1,755	(18)	(3,492)

As of December 31, 2023
Financial assets		Financial liabilities
Measured at fair value through the statement of income	Measured at amortized cost	Measured at fair value through the statement of income	Measured at amortized cost
$ millions

Current assets
Cash and cash equivalents	-	420	-	-
Short-term investments and deposits	-	172	-	-
Trade receivables	-	1,376	-	-
Other receivables	-	94	-	-
Foreign currency derivative designated as economic hedge	43	-	-	-
Foreign currency and interest derivative instruments designated as cash flow hedge	10	-	-	-
Non-current assets
Foreign currency and interest derivative instruments designated as cash flow hedge	1	-	-	-
Other non-current assets	-	22	-	-
Total financial assets	54	2,084	-	-
Current liabilities
Short term debt	-	-	-	(858)
Trade payables	-	-	-	(912)
Other current liabilities	-	-	-	(180)
Foreign currency derivative designated as economic hedge	-	-	(4)	-
Foreign currency and interest derivative instruments designated as cash flow hedge	-	-	(3)	-
Non-current liabilities
Long term debt and debentures	-	-	-	(1,829)
Foreign currency and interest derivative instruments designated as cash flow hedge	-	-	(7)	-
Other non- current liabilities	-	-	-	(41)
Total financial liabilities	-	-	(14)	(3,820)
Total financial instruments, net	54	2,084	(14)	(3,820)

C. Credit risk

(1) General

(a) Customer credit risks

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and it arises mainly from the Company’s receivables from customers and from other receivables as well as from investments in securities.

The Company sells to a wide range and large number of customers, including customers with material credit balances. On the other hand, the Company does not have a concentration of sales to individual customers.

The Company has a regular policy of ensuring the credit risk of its customers by means of purchasing credit insurance with insurance companies, other than sales to government agencies and sales in small amounts. Most of all other sales are executed only after receiving approval of coverage in the necessary amount from an insurance company or other collaterals of a similar level. Part of the Brazilian companies are using uninsured model based on self-disclosure underwriting, with local collateral structure and credit committee policy.

The use of an insurance company as aforementioned ensures that the credit risk is managed professionally and objectively by an expert external party and transfers most of the credit risk to third parties. Nevertheless, the common deductible in credit insurances is 10% (even higher in a small number of cases) thus the Company is still exposed to part of the risk, out of the total

In addition, the Company has an additional deductible cumulative annual amount of approximately $6 million through a wholly‑owned captive reinsurance company.

Most of the Company’s customers have been trading with the Company for many years and only rarely have credit losses been incurred by the Company. The financial statements include specific allowance for doubtful debts that appropriately reflect, in Management’s opinion, the credit loss in respect of accounts receivables which are considered doubtful.

(b) Credit risks in respect of deposits

The Company deposits its balance of liquid financial assets in bank deposits and in securities. All the deposits are with a diversified group of leading banks preferably with banks that provide loans to the Company.

(2) Maximum Exposure to credit risk

The carrying amount of financial assets represents the maximum credit exposure. The maximum exposure to credit risk at the reporting date was:

	As of December 31
	Carrying amount ($ millions)
	2024	2023

Cash and cash equivalents	327	420
Short term investments and deposits	115	172
Trade receivables	1,260	1,376
Other receivables	33	94
Derivatives	19	54
Other non-current assets	20	22
	1,774	2,138

The maximum exposure to credit risk for trade receivables, at the reporting date by geographic region was:

	As of December 31
	Carrying amount ($ millions)
	2024	2023

South America	390	409
Europe	310	352
Asia	278	313
North America	187	196
Israel	75	80
Other	20	26
	1,260	1,376

(3) Aging of debts and impairment losses

The aging of trade receivables at the reporting date was:

As of December 31
2024		2023
Gross	Impairment	Gross	Impairment
$ millions	$ millions	$ millions	$ millions

Not past due	1,150	1	1,258	(3)
Past due up to 3 months	79	(1)	102	(1)
Past due 3 to 12 months	35	(5)	27	(7)
Past due over 12 months	22	(21)	2	(2)
	1,286	(26)	1,389	(13)

The movement in the allowance for doubtful accounts during the year was as follows:

	2024	2023
	$ millions	$ millions

Balance as of January 1	13	8
Additional allowance	16	5
Changes due to translation differences	(3)	-
Balance as of December 31	26	13

D. Liquidity risk

Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they fall due. The Company’s approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to timely meet its liabilities, under both normal and stressed conditions, without incurring unwanted losses.

The Company manages the liquidity risk by holding cash balances, short-term deposits and secured bank credit facilities.

The following are the contractual maturities of financial liabilities, including estimated interest payments:

As of December 31, 2024
Carrying amount	12 months or less	1-2 years	3-5 years	More than 5 years
$ millions

Non-derivative financial liabilities
Short term debt (not including current maturities)	276	282	-	-	-
Trade payables	1,002	1,002	-	-	-
Other current liabilities	156	156	-	-	-
Long-term debt, debentures and others	2,058	185	546	792	1,276
	3,492	1,625	546	792	1,276
Financial liabilities – derivative instruments
Foreign currency and interest derivative designated as economic hedge	11	11	-	-	-
Foreign currency and interest derivative designated as cash flow hedge	7	3	4	-	-
	18	14	4	-	-

As of December 31, 2023
Carrying amount	12 months or less	1-2 years	3-5 years	More than 5 years
$ millions

Non-derivative financial liabilities
Short term debt (not including current maturities)	283	300	-	-	-
Trade payables	912	912	-	-	-
Other current liabilities	180	180	-	-	-
Long-term debt, debentures and others	2,445	666	599	653	1,339
	3,820	2,058	599	653	1,339
Financial liabilities – derivative instruments
Foreign currency and interest derivative designated as economic hedge	4	4	-	-	-
Foreign currency and interest derivative designated as cash flow hedge	10	3	7	-	-
	14	7	7	-	-

E. Market risk

Market risk is the risk that changes in market prices, such as foreign exchange rates, interest rates and equity prices will affect the fair value or future cash flows of a financial instrument.

1. Interest risk

The Company has loans bearing variable interests and therefore its financial results and cash flows are exposed to fluctuations in the market interest rates.

From time to time, the Company uses financial instruments including derivatives in order to hedge this exposure. The Company uses interest rate swap and cross currency swaps contracts mainly in order to reduce the exposure to cash flow risk in respect of changes in interest rates.

(a) Interest Rate Profile

Set forth below are details regarding the type of interest on the Company’s non-derivative interest‑bearing financial instruments:

	As of December 31
	2024	2023
	$ millions	$ millions

Fixed rate instruments
Financial assets	387	387
Financial liabilities	(1,508)	(2,017)
	(1,121)	(1,630)
Variable rate instruments
Financial assets	49	49
Financial liabilities	(791)	(682)
	(742)	(633)

(b) Sensitivity analysis for fixed rate instruments

Most of the Company’s instruments bearing fixed interest are not measured at fair value through the statement of income. Therefore, changes in the interest rate will not have any impact on the profit or loss in respect of changes in the value of assets and liabilities bearing fixed interest.

(c) Sensitivity analysis for variable rate instruments

The below analysis assumes that all other variables (except for the interest rate), in particular foreign currency rates, remain constant.

As of December 31, 2024
Impact on profit (loss)
Decrease of 1% in interest	Decrease of 0.5% in interest	Increase of 0.5% in interest	Increase of 1% in interest
$ millions

SWAP instruments
Changes in Israeli Shekel interest	14.8	7.0	(6.8)	(13.3)

(d) Terms of derivative financial instruments used to hedge interest risk

As of December 31, 2024
Carrying amount (fair value)	Stated amount	Maturity date	Interest rate range
$ millions	$ millions	Years	%

Israeli Shekel
SWAP contracts from fixed ILS interest to fixed USD interest	(3)	206	2025-2034	2.4%

As of December 31, 2023
Carrying amount (fair value)	Stated amount	Maturity date	Interest rate range
$ millions	$ millions	Years	%

Israeli Shekel
SWAP contracts from fixed ILS interest to fixed USD interest	(5)	344	2024-2034	2.4-4.74%

2. Currency risk

The Company is exposed to currency risk with respect to sales, purchases, assets and liabilities that are denominated in a currency other than the functional currency of the Company. The main exposure is the New Israeli Shekel, Euro, British Sterling, Chinese Yuan Brazilian Real and Turkish Lira.

The Company enters foreign currency derivatives – forward exchange transactions and currency options – all in order to protect the Company from the risk that the eventual cash flows, resulting from existing assets and liabilities, and sales and purchases of goods within the framework of firm or anticipated commitments (based on a budget of up to one year), denominated in foreign currency, will be affected by changes in the exchange rates.

(a) Sensitivity analysis

A 10% increase at the rate of the US dollar against the following currencies would have increased (decreased) profit or loss by the amounts shown below. This analysis assumes that all other variables, in particular interest rates, remain constant.

	As of December 31,
	Impact on profit (loss)
	2024	2023
	$ millions	$ millions

Non-derivative financial instruments
US Dollar/Euro	(54)	(82)
US Dollar/Israeli Shekel	73	70
US Dollar/British Pound	(1)	2
US Dollar/Brazilian Real	-	31
US Dollar/Chinese Yuan	-	21

A 10% decrease of the US dollar against the above currencies as of December 31, 2024, would have the same effect but in the opposite direction.

Presented hereunder is a sensitivity analysis of the Company’s foreign currency derivative instruments. Any change in the exchange rates of the principal currencies shown below would have increased (decreased) profit and loss and equity by the amounts shown below. This analysis assumes that all other variables remain constant.

As of December 31, 2024
Increase 10%	Increase 5%	Decrease 5%	Decrease 10%
$ millions

US Dollar/Brazilian Real
Forward transactions	1	1	(1)	(2)

US Dollar/Israeli Shekel
Forward transactions	(66)	(34)	40	83
Forward transactions hedge accounting	(31)	(17)	15	33
SWAP	(17)	(9)	10	21

US Dollar/British Pound
Options	(3)	(2)	2	4

Euro/ US Dollar
Forward transactions	18	9	(8)	(15)
Options	4	2	(2)	(3)

(b) Terms of derivative financial instruments used to reduce foreign currency risk

As of December 31, 2024
Carrying amount	Stated amount	Average
$ millions		exchange rate

Forward contracts
US Dollar/Israeli Shekel	(1)	808	3.7
Euro/US Dollar	2	177	1.1
US Dollar/Brazilian Real	-	18	6.0
British Pound/Euro	-	115	1.2
British Pound/US Dollar	-	8	1.2
Euro/Chinese Yuan Renminbi	-	14	7.7
Other	-	12	-
Forward contracts hedge accounting
US Dollar/Israeli Shekel	2	320	3.7
Currency and interest SWAPs
US Dollar/Israeli Shekel	(3)	206	3.7
Put options
US Dollar/Israeli Shekel	-	-	3.7
Euro/US Dollar	1	40	1.1
US Dollar/Japanese Yen	-	5	152.0
British Pound/US Dollar	-	12	1.2
Call options
US Dollar/Israeli Shekel	-	-	3.7
Euro/US Dollar	-	40	1.1
US Dollar/Japanese Yen	-	5	152.0
British Pound/US Dollar	-	12	1.2

As of December 31, 2023
Carrying amount	Stated amount	Average exchange rate
$ millions

Forward contracts
US Dollar/Israeli Shekel	35	735	3.7
Euro/US Dollar	5	12	1.1
US Dollar/Brazilian Real	-	14	5.0
British Pound/US Dollar	-	8	1.2
Euro/Chinese Yuan Renminbi	(1)	82	7.7
Other	-	54	293.9
Forward contracts hedge accounting
US Dollar/Israeli Shekel	6	345	3.7
Currency and interest SWAPs
US Dollar/Israeli Shekel	(5)	344	3.7
Put options
US Dollar/Israeli Shekel	-	-	3.7
Euro/US Dollar	-	45	1.1
US Dollar/Japanese Yen	-	5	140.7
British Pound/US Dollar	-	12	1.2
Call options
US Dollar/Israeli Shekel	-	-	3.7
Euro/US Dollar	-	45	1.1
US Dollar/Japanese Yen	-	5	140.7
British Pound/US Dollar	-	12	1.2

(c) Linkage terms of monetary balances – in millions of dollars

	As of December 31, 2024
	US Dollar	Euro	British Pound	Israeli Shekel	Brazilian Real	Chinese Yuan Renminbi	Other	Total

Non-derivative instruments:
Cash and cash equivalents	55	20	9	2	69	151	21	327
Short term investments and deposits	108	1	-	-	-	6	-	115
Trade receivables	545	224	39	37	297	81	37	1,260
Other receivables	-	18	2	4	5	-	4	33
Other non-current assets	9	5	-	1	5	-	-	20
Total financial assets	717	268	50	44	376	238	62	1,755
Short-term debt	163	148	12	50	6	3	2	384
Trade payables	196	201	24	408	103	61	9	1,002
Other current liabilities	43	52	6	32	13	9	1	156
Long term debt, debentures and others	802	784	8	275	13	24	3	1,909
Other non-current liabilities	7	33	-	-	-	-	1	41
Total financial liabilities	1,211	1,218	50	765	135	97	16	3,492
Total non-derivative financial instruments, net	(494)	(950)	-	(721)	241	141	46	(1,737)
Derivative instruments:
Forward transactions	-	177	8	808	18	-	141	1,152
Forward transactions hedge accounting	-	-	-	320	-	-	-	320
Cylinder	-	40	12	-	-	-	5	57
SWAPS – US dollar into Israeli shekel	-	-	-	206	-	-	-	206
Total derivative instruments	-	217	20	1,334	18	-	146	1,735
Net exposure	(494)	(733)	20	613	259	141	192	(2)

	As of December 31, 2023
	US Dollar	Euro	British Pound	Israeli Shekel	Brazilian Real	Chinese Yuan Renminbi	Others	Total

Non-derivative instruments:
Cash and cash equivalents	78	10	15	2	65	230	20	420
Short term investments and deposits	163	1	-	-	-	5	3	172
Trade receivables	523	261	58	66	355	78	35	1,376
Other receivables	50	22	1	14	1	1	5	94
Other non-current assets	10	4	-	1	7	-	-	22
Total financial assets	824	298	74	83	428	314	63	2,084
Short-term debt	483	143	24	199	6	3	-	858
Trade payables	194	225	33	308	91	57	4	912
Other current liabilities	42	82	3	27	14	11	1	180
Long term debt, debentures and others	808	689	12	269	19	28	4	1,829
Other non-current liabilities	1	39	-	-	1	-	-	41
Total financial liabilities	1,528	1,178	72	803	131	99	9	3,820
Total non-derivative financial instruments, net	(704)	(880)	2	(720)	297	215	54	(1,736)
Derivative instruments:
Forward transactions	-	12	8	735	14	-	136	905
Forward transactions hedge accounting	-	-	-	345	-	-	-	345
Cylinder	-	45	12	-	-	-	5	62
SWAPS – US dollar into Israeli shekel	-	-	-	344	-	-	-	344
Total derivative instruments	-	57	20	1,424	14	-	141	1,656
Net exposure	(704)	(823)	22	704	311	215	195	(80)

3. Hedge accounting

The Company is exposed to changes in the exchange rate of the Israeli shekel and euro against the dollar in respect of principal and interest in certain debentures, loans, labor costs, sales and other operating expenses. The Company's risk management strategy is to hedge the changes in cash flows deriving from liabilities, labor costs and other operational costs denominated in Israeli shekels by using derivatives. These exposures are hedged from time to time, according to the assessment of the exposure and inherent risks against which the Company chooses to hedge, in accordance with the Company's risk management strategy.

In view of the above, the Company designated several forward contracts and options transactions for cash flow hedge and applied hedge accounting. These transactions, which include a portion of labor costs and other operational costs denominated in Israeli shekel and sales denominated in euro, are intended to secure the effect of the change in the exchange rate of the dollar against the hedged portion, thereby protecting the Company's operating income from currency fluctuation. The Company applies a 1:1 hedging ratio. The main source of potential ineffectiveness in these hedging ratios is negligible schedule differences between the hedged item and the hedging instrument. As of the date of the hedge transaction, the total balance of the hedged instruments amounted to about $360 million.

F. Fair value of financial instruments

The carrying amounts in the books of certain financial assets and financial liabilities, including cash and cash equivalents, investments, short-term deposits and loans, receivables and other debit balances, long-term investments and receivables, short-term credit, payables and other credit balances, long-term loans bearing variable interest and other liabilities, and derivative financial instruments, correspond to or approximate their fair value.

The following table details the book value and the fair value of financial instrument groups presented in the financial statements not in accordance with their fair value:

As of December 31, 2024		As of December 31, 2023
Carrying amount	Fair value	Carrying amount	Fair value
$ millions		$ millions

Loans bearing fixed interest (1)	287	271	337	306
Debentures bearing fixed interest
Marketable (2)	909	845	1,208	1,118
Non-marketable (3)	47	47	196	194
	1,243	1,163	1,741	1,618

(1)

The fair value of the Euro loans bearing fixed interest is based on calculation of the present value of the cash flows in respect of the principal and the interest and is discounted at the market interest rates on the measurement date for similar loans having similar characteristics and is classified as Level 2 in the fair value hierarchy. The average discount interest as of December 31, 2024, for the Euro loans was 4.5% (December 31, 2023 – 5.3%).

(2)

The fair value of the marketable debentures is based on the quoted stock exchange price and is classified as Level 1 in the fair value hierarchy.

(3)

The fair value of the non-marketable debentures is based on present value calculation of the cash flows in respect of the principal and interest and is discounted at the market customary SOFR rate for similar loans with similar characteristics and is classified as Level 2 in the fair value hierarchy. The average discount interest as of December 31, 2024, was 6.7% (December 31, 2023 – 8.1%).

G. Hierarchy of fair value

The following table presents an analysis of the financial instruments measured by fair value, using the valuation method. (See Note 4).

The following levels were defined:

Level 2: Observed data (directly or indirectly) not included in Level 1 above.

Level 2	As of December 31, 2024	As of December 31, 2023
Level 2	$ millions	$ millions

Derivatives designated as economic hedge, net	1	39
Derivatives designated as cash flow hedge, net	-	1
	1	40

Earnings per Share

12 Months Ended

Dec. 31, 2024

Notes to Consolidated Financial Statements [Abstract]

Note 22 - Earnings per Share

Basic earnings per share

Calculation of the basic earnings per share for the year ended December 31, 2024, is based on the earnings allocated to the holders of the ordinary shares divided by the weighted-average number of ordinary shares outstanding, calculated as follows:

For the year ended December 31
2024	2023	2022
$ millions	$ millions	$ millions

Earnings attributed to the shareholders of the Company

407

647

2,159

Weighted-average number of ordinary shares in thousands:

For the year ended December 31
2024	2023	2022
Shares thousands	Shares thousands	Shares thousands

Balance as of January 1	1,289,436	1,289,179	1,285,585
Shares issued during the year	532	182	1,719
Weighted average number of ordinary shares used in computation of the basic earnings per share	1,289,968	1,289,361	1,287,304

Diluted earnings per share

Calculation of the diluted earnings per share for the year ended December 31, 2024, is based on the earnings allocated to the holders of the ordinary shares divided by the weighted-average number of ordinary shares outstanding after adjustment for the number of potential diluted ordinary shares, calculated as follows:

Weighted average number of ordinary shares (diluted) in thousands:

For the year ended December 31
2024	2023	2022
Shares thousands	Shares thousands	Shares thousands

Weighted average number of ordinary shares used in the computation of the basic earnings per share	1,289,968	1,289,361	1,287,304
Effect of stock options*	71	1,307	2,643
Weighted average number of ordinary shares used in the computation of the diluted earnings per share	1,290,039	1,290,668	1,289,947

* As of December 31, 2024, 2023 and 2022, number of 23.5 million, 11 million and 7.6 million options, respectively, were not included since they did not have a diluting effect.

The average market value of the Company’s shares, for purposes of calculating the dilutive effect of the stock options, is based on the quoted market prices for the period in which the options were outstanding.

Related and Interested Parties

12 Months Ended

Dec. 31, 2024

Note 23 - Related and Interested Parties

Related parties within its meaning in IAS 24 (2009), “Related Parties Disclosure”; Interested parties within their meaning in Paragraph 1 of the definition of an “interested party” in Section 1 of the Israeli Securities Law, 1968.

A.

Parent company and subsidiaries

Israel Corp. is a public company listed for trading on the Tel Aviv Stock Exchange (TASE). Based on the information provided by Israel Corp., Millenium Investments Elad Ltd. (“Millenium”) and Mr. Idan Ofer are considered as controlling shareholders jointly of Israel Corp., for purposes of the Israeli Securities Law (each of Millenium and Mr. Idan Ofer hold shares in Israel Corp. directly, and Mr. Idan Ofer serves as a director of Millenium and has an indirect interest in it as the beneficiary of the discretionary trust that has indirect control of Millenium, as stated below). As of December 31, 2024, Millenium holds approximately 38.29% of the issued share capital (and 38.66% of the voting rights) in Israel Corp., which holds as of December 31, 2024, approximately 43.95% of the voting rights and approximately 43.13% of the Company's issued share capital.

To the best of Israel Corp.’s knowledge, Millenium is wholly held by Mashat (Investments) Ltd. (“Mashat”). Mashat is wholly owned by Ansonia Holdings Singapore B.V. (“Ansonia”) which is incorporated in the Netherlands. Ansonia is a wholly owned subsidiary of Jelany Corporation N.V. (registered in Curaçao), which is wholly owned subsidiary of the Liberian company, Court Investments Ltd. (“Court”). Court is wholly owned by a discretionary trust, in which Mr. Idan Ofer is the beneficiary. In addition, as of December 31, 2024, Lynav Holdings Ltd. ("Lynav"), which is a company controlled by a discretionary trust in which Mr. Idan Ofer is the beneficiary, holds directly approximately 9.39% of the issued share capital (and 9.48% of the voting rights) of Israel Corp. Furthermore, as of December 31, 2024, Mr. Idan Ofer holds directly approximately 0.05% of the issued share capital of Israel Corp (and approximately 0.05% of the voting rights).

Even though Israel Corp. holds less than 50% of the Company’s ordinary shares, it still has decisive influence at the general meetings of the Company’s shareholders and, effectively, it has the power to appoint directors (other than the external directors) and to exert significant influence with respect to the composition of the Company’s Board of Directors.

As of December 31, 2024, approximately 73 million ordinary shares have been pledged by Israel Corp. to secure certain liabilities, almost entirely comprised of margin loans with an aggregate outstanding principal amount of $150 million.

B.

Benefits to key management personnel (including directors)

The senior managers, in addition to their salaries, are entitled to non-cash benefits (such as vehicle, mobile etc.). The Group contributes to a post-employment defined benefit plan on their behalf. In accordance with the terms of the plan, the retirement age of senior managers is 67. Senior managers and directors also participate in the Company's incentive and equity remuneration plans (options for Company shares) (see Notes 16 and 19).

The Company's key management personnel in 2024, consists of 26 individuals, of whom 11 are not employed by the Company (directors). The Company's key management personnel in 2023, consisted of 24 individuals, of whom 10 were not employed by the Company (directors).

Set forth below are details of the benefits for key management personnel in 2024 and 2023.

	For the year ended December 31
	2024	2023
	$ millions	$ millions

Short-term benefits	12	9
Post-employment benefits	1	1
Share-based payments	9	7
Total *	22	17
* To interested parties employed by the Company	5	5
* To interested parties not employed by the Company	1	1

C. Ordinary transactions that are not exceptional

The Company’s Board of Directors, following the approval of the Audit Committee, decided that a transaction with related and interested parties will be considered a “negligible transaction” for public reporting purposes if all the following conditions have been met:

(1)

It is not an “extraordinary transaction” within the meaning thereof in the Companies Law.

(2)

The effect of each of the parameters listed below is less than one percent (hereinafter – the Negligibility Threshold).

For every transaction or arrangement that is tested for the Negligibility Threshold, the parameters will be examined, to the extent they are relevant, on the basis of the Company's condensed or audited consolidated financial statements, as applicable, prior to the transaction, as detailed below:

Acquisition of assets

Assets ratio – the value of the assets in the transaction divided by total assets.

Sale of assets

Assets ratio – the amount of the assets in the transaction divided by total assets in most recent consolidated balance sheet.

Profit ratio – the profit or loss from the transaction (in absolute value) divided by the annual average of last twelve quarters profit/ loss (in absolute value).

Financial liabilities

Liabilities ratio – loan principle divided by the total liabilities in most recent consolidated balance sheet.

Financing expenses ratio – the expected financing expenses for the specific loan divided by the gross financing expenses in most recent consolidated P&L statement.

Acquisition and sale of products (except fixed assets), services, leases and production inputs

Income ratio – estimated income from the transaction divided by the annual average of total income in last twelve quarterly consolidated P&L statements, or

Production inputs ratio – the aggregate expenses in the transaction divided by the annual average of total expenses in last twelve quarterly consolidated P&L statements.

(3)

The transaction is negligible also from a qualitative point of view. For the purpose of this criteria, it shall be examined whether there are special considerations justifying reporting of the transaction, even if it does not meet the quantitative criteria described above.

(4)

In examining the negligibility of a transaction expected to occur in the future, among other things, the probability of the transaction occurring will be examined.

D. Transactions with related and interested parties

For the year ended December 31
2024	2023	2022
$ millions	$ millions	$ millions

Sales	-	1	7
Cost of sales	1	1	13
Selling, transport and marketing expenses	9	6	15
Financing income, net	(2)	(1)	-
General and administrative expenses	1	1	1
Management fees to the parent company	-	-	1

(1)

Until July 2022, the Company and its parent company, Israel Corp., were parties to a management services agreement, pursuant to which Israel Corp. provided to the Company board member services and ongoing general consulting services, such as professional, financial, strategic, legal and managerial advice, for an annual management fee of $1 million plus VAT, which included the overall value of the cash and equity-based compensation for the service of the Company’s directors who are officers or directors of Israel Corp. (except for the separate compensation arrangement between the Company and the Company’s Executive Chairman of the Board, Mr. Yoav Doppelt). As of July 2022, the management agreement was terminated by the parties, and thereafter, directors who are officers or directors of Israel Corp. (other than Mr. Yoav Doppelt), namely Mr. Aviad Kaufman and Mr. Sagi Kabla, began to be paid the same cash compensation as paid to all other non-executive directors of the Company, namely the fixed annual fee and per meeting fees payable to directors from time to time under the regulations promulgated under the Israeli Companies Law, 1999 governing the compensation of external directors. Mr. Kabla requested that his compensation be assigned to Israel Corp..

(2)

The Company’s directors’ and officers’ liability insurance policies include a two-tier coverage for directors’ and officers’ liability, comprising of a joint primary tier with Israel Corp. and a separate tier covering the Company alone. Our directors and officers are beneficiaries of both tiers.

The Company’s directors’ and officers’ liability insurance policy for 2024, which was in effect until February 2025, was approved by the Company's authorized organs and included a liability limit of $200 million (comprised of a limit of $40 million joint tier with Israel Corp. and additional Side A coverage (directors and officers only) of $160 million for the Company only).

In February 2025, the Company's directors’ and officers’ liability insurance policy for 2025 was approved by the Company's authorized organs, in accordance with the Relief Regulations and the Compensation Policy and is effective as of March 2025. The 2025 directors’ and officers’ liability insurance policy continue to include a liability limit of $200 million for both tiers (comprised of a limit of $40 million joint with Israel Corp. and additional Side A coverage (directors and officers only) of $160 million for the Company only).

(3)

In December 2017, the Company, Oil Refineries Ltd. (hereinafter – "ORL", a public company controlled at that time by Israel Corp., our controlling shareholder) and OPC Energy Ltd. (a public company that is controlled indirectly by one of the Company’s controlling shareholders) signed individual agreements with Energean PLC for the supply of natural gas. Under the agreement between the Company and Energean, the Company will be entitled to acquire up to 13 BCM of natural gas over a period of 15 years, in the total amount of approximately $1.8 billion. As of December 31, 2023, ORL was no longer affiliated with our controlling shareholder. For further information, see Note 18.

(4)

In October 2020, the Company and ORL signed individual bridge supply agreements with Tamar Reservoir for the supply of natural gas, following a process of joint negotiations with the supplier and the approval of ICL's general meeting of shareholders. As of December 31, 2022, the bridge supply agreement with Tamar reservoir was no longer in effect. As of December 31, 2023, ORL was no longer affiliated with our controlling shareholder. For further information, see Note 18.

E. Balances with related and interested parties

Composition:

	As of December 31
	2024	2023
	$ millions	$ millions

Other current assets	41	19

Other current liabilities (*)	1	1

* The balance included transactions with the Company Zim Integrated Shipping Ltd. which is not an interested party from the end of December 2024.

Group Main Entities

12 Months Ended

Dec. 31, 2024

Note 24 - Group Main Entities

Note 24 – Group Main Entities

		Ownership interest in its subsidiary and investee companies for the year ended December 31
Name of company	Principal location of the company’s activity	2024	2023
ICL Israel Ltd.	Israel	100.00%	100.00%
Dead Sea Works Ltd.	Israel	100.00%	100.00%
Dead Sea Bromine Company Ltd.	Israel	100.00%	100.00%
Rotem Amfert Negev Ltd.	Israel	100.00%	100.00%
Mifalei Tovala Ltd.	Israel	100.00%	100.00%
Dead Sea Magnesium Ltd.	Israel	100.00%	100.00%
Bromine Compounds Ltd.	Israel	100.00%	100.00%
Fertilizers and Chemicals Ltd.	Israel	100.00%	100.00%
Iberpotash S.A.	Spain	100.00%	100.00%
Fuentes Fertilizantes S.L.	Spain	100.00%	100.00%
ICL Europe Coöperatief U.A.	The Netherlands	100.00%	100.00%
ICL Europe B.V.	The Netherlands	100.00%	100.00%
ICL IP Terneuzen B.V	The Netherlands	100.00%	100.00%
ICL Finance BV	The Netherlands	100.00%	100.00%
Everris International B.V.	The Netherlands	100.00%	100.00%
ICL Puriphos B.V.	The Netherlands	100.00%	100.00%
ICL-IP America Inc	United States of America	100.00%	100.00%
ICL Specialty Products Inc	United States of America	100.00%	100.00%
Everris NA, Inc.	United States of America	100.00%	100.00%
Growers Holdings, Inc.	United States of America	100.00%	100.00%
BK Giulini GmbH	Germany	100.00%	100.00%
ICL Holding Germany GmbH	Germany	100.00%	100.00%
ICL Bitterfeld GmbH	Germany	100.00%	100.00%
Prolactal GmbH	Austria	100.00%	100.00%
Cleveland Potash Ltd.	United Kingdom	100.00%	100.00%
Everris Ltd.	United Kingdom	100.00%	100.00%
ICL America do Sul	Brazil	100.00%	100.00%
ICL Aditivos E Ingredientes LTDA	Brazil	100.00%	100.00%
ICL Investment Co. Ltd.	China	100.00%	100.00%
Yunnan Phosphate Haikou Co. Ltd.	China	50.00%	50.00%
ICL Asia Ltd	Hong Kong	100.00%	100.00%
ICL Trading (HK) Ltd.	Hong Kong	100.00%	100.00%
Scora S.A.S., France	France	100.00%	100.00%

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
Cybersecurity Risk Management and Strategy Disclosure	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	ICL’s global cybersecurity strategy has been designed based on industry standards, such as the NIST Cybersecurity Framework, and resides on three fundamental pillars: (a) plants and operational security, (b) critical assets & data protection, and (c) fraud prevention. These pillars provide a framework for assessing cybersecurity risk and identifying and managing cybersecurity threats and incidents, including threats and incidents associated with ICL’s use of services, applications and products provided by third-party vendors and service providers. Although we conduct third-party examination, onboarding, and other procedures designed to assess the data privacy and cybersecurity practices of third-party vendors and service providers (including risk assessments and contractual protections), our ability to monitor or control the data privacy and cybersecurity practices of third parties is limited and there can be no assurance that we can detect, prevent, mitigate, or remediate the risk of any weakness, compromise or failure in the information systems, software, networks and other assets owned or controlled by our third-party vendors and service providers. When we do become aware that a third-party vendor or service provider has experienced any compromise or failure, we attempt to mitigate our risk, including by terminating such third party’s connection to our information systems and networks where appropriate. As cyberattacks evolve and become more sophisticated, ICL has had to strengthen its overall resilience, including its prevention, monitoring, mitigation, and remediation efforts. As part of such efforts, ICL routinely reviews, reinforces, and tests its cybersecurity processes and procedures, including its Cyber business continuity plans, through exercises in the areas of cybersecurity. The outcome of such exercises is an important part of a feedback process designed to improve ICL’s cybersecurity posture and culture and raise the level of cybersecurity awareness and preparedness of certain key personnel. ICL also retains cybersecurity intelligence services, as well as the services of a security operations center that operates 24 hours a day, as part of our incident management process. We also conduct internal and third-party risk assessments of our information systems and networks in cooperation with several leading Israeli and international companies in the field of cybersecurity. As part of our ongoing efforts to strengthen our cybersecurity defenses, in 2019, we began conducting regular Cyber Maturity surveys approximately every 18 months in cooperation with a leading international consulting firm, the last survey taking place in 2024. In addition, we conduct regular penetration tests, the last of which also took place in 2024. ICL is also part of the critical national infrastructure of Israel, and as such, we continuously monitor communications from and cooperate with Israel’s National Cyber Emergency Response Team (“National CERT”), which is part of (the Israel National Cyber Directorate), as well as Israel’s Ministry of Energy and Ministry of Environmental Protection for the purpose of protecting our two critical plants from a variety of risks, including cybersecurity risks. Our Internal Auditor also performs several audits each year on our cybersecurity programs compliance with ICL’s policies and regulations in the field of cybersecurity. Other lines of action also include our management undergoing periodic training and practical drills in cybersecurity approximately every 18 months. These exercises are designed to simulate real-world cyberattacks, allowing our management to enhance their skills and preparedness in handling potential threats.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	ICL’s global cybersecurity strategy has been designed based on industry standards, such as the NIST Cybersecurity Framework, and resides on three fundamental pillars: (a) plants and operational security, (b) critical assets & data protection, and (c) fraud prevention. These pillars provide a framework for assessing cybersecurity risk and identifying and managing cybersecurity threats and incidents, including threats and incidents associated with ICL’s use of services, applications and products provided by third-party vendors and service providers.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	false
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Text Block]	Despite our efforts and investment in many resources over the years to improve the reliability of our cybersecurity programs and to prevent cybersecurity incidents, complete protection in the field of cybersecurity cannot be guaranteed and we can make no assurances that we have not experienced an undetected cybersecurity incident, including an incident that may have been material. For further information on cybersecurity risks, see “Item 3 - Key Information— D. Risk Factors— Significant disruptions in our, or our service providers’, information technology systems or breaches of our, or our service providers’, information security systems could adversely affect our business”.
Cybersecurity Risk Board of Directors Oversight [Text Block]	Our Global IT team handles the operational cybersecurity policies and measures regarding ICL’s global infrastructures, in collaboration with the plants' engineering and control units. In an effort to effectively prevent, detect, and respond to cybersecurity threats and incidents, the Global IT team employs a multi-layered cybersecurity risk management program supervised by our Vice President Chief Information Security Officer (“CISO”), whose team is responsible for leading enterprise-wide cybersecurity strategy, policy, architecture, and processes. Such responsibilities include identifying, considering and assessing material cybersecurity threats and incidents on an ongoing basis, establishing processes designed to detect, prevent and monitor potential cybersecurity risks, implementing mitigation and remedial measures, and maintaining our cybersecurity programs. Our CISO has served in the role of CISO for over 5 years and has significant expertise in cybersecurity technology, including serving in key leadership positions, such as Head of the National CERT and Chief Executive Officer of a cyber strategic consulting company. As part of ICL’s incident response processes, our CISO has a direct line of communication with our Chief Executive Officer and provides updates on certain cybersecurity threats and incidents and as required, the Board of Directors, based on our management’s assessment of risk. As part of its oversight responsibilities, the Board of Directors receives annual updates on our cybersecurity practices as well as technology, cybersecurity and information security risks from our CISO. These annual updates include topics related to cybersecurity, data privacy, and risk management processes, such as third-party assessments of our cybersecurity programs, updates to our cybersecurity programs and mitigation strategies, and other cybersecurity developments. Cybersecurity risk management is an integral part of our overall enterprise risk management program, which is overseen by the Board of Directors. As part of its enterprise risk management efforts, the Board of Directors also meets with senior management, including the CISO, to assess and respond to critical business risks, including those that may arise from cybersecurity threats and incidents. The CISO meets with our Global Executive Committee (GEC) quarterly and the Board of Directors annually to review and discuss our technology, cybersecurity, and information security strategies and approve our technology, cybersecurity, and information security plans.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our Global IT team handles the operational cybersecurity policies and measures regarding ICL’s global infrastructures, in collaboration with the plants' engineering and control units. In an effort to effectively prevent, detect, and respond to cybersecurity threats and incidents, the Global IT team employs a multi-layered cybersecurity risk management program supervised by our Vice President Chief Information Security Officer (“CISO”), whose team is responsible for leading enterprise-wide cybersecurity strategy, policy, architecture, and processes. Such responsibilities include identifying, considering and assessing material cybersecurity threats and incidents on an ongoing basis, establishing processes designed to detect, prevent and monitor potential cybersecurity risks, implementing mitigation and remedial measures, and maintaining our cybersecurity programs.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	As part of ICL’s incident response processes, our CISO has a direct line of communication with our Chief Executive Officer and provides updates on certain cybersecurity threats and incidents and as required, the Board of Directors, based on our management’s assessment of risk.
Cybersecurity Risk Role of Management [Text Block]	As part of its enterprise risk management efforts, the Board of Directors also meets with senior management, including the CISO, to assess and respond to critical business risks, including those that may arise from cybersecurity threats and incidents. The CISO meets with our Global Executive Committee (GEC) quarterly and the Board of Directors annually to review and discuss our technology, cybersecurity, and information security strategies and approve our technology, cybersecurity, and information security plans.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	As part of its oversight responsibilities, the Board of Directors receives annual updates on our cybersecurity practices as well as technology, cybersecurity and information security risks from our CISO. These annual updates include topics related to cybersecurity, data privacy, and risk management processes, such as third-party assessments of our cybersecurity programs, updates to our cybersecurity programs and mitigation strategies, and other cybersecurity developments.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our CISO has served in the role of CISO for over 5 years and has significant expertise in cybersecurity technology, including serving in key leadership positions, such as Head of the National CERT and Chief Executive Officer of a cyber strategic consulting company.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	As part of its enterprise risk management efforts, the Board of Directors also meets with senior management, including the CISO, to assess and respond to critical business risks, including those that may arise from cybersecurity threats and incidents. The CISO meets with our Global Executive Committee (GEC) quarterly and the Board of Directors annually to review and discuss our technology, cybersecurity, and information security strategies and approve our technology, cybersecurity, and information security plans.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Material Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2024

Summary Of Significant Accounting Policies [Abstract]

Basis for consolidation

A.

Basis for Consolidation

1. Business combinations

ICL implements the acquisition method to all business combinations. The acquisition date is the date on which the acquirer obtains control over the acquiree. Control exists when ICL is exposed or has rights to variable returns from its involvement with the acquiree and it could affect those returns through its power over the acquiree. Substantive rights held by ICL and others are considered when assessing control.

1.

Subsidiaries

Subsidiaries are entities controlled by ICL. The financial statements of the subsidiaries are included in the consolidated financial statements from the date control commenced until the date control ceases to exist. The financial statements of subsidiaries have been changed when necessary to align them with ICL's accounting policies. All intercompany balances and transactions have been eliminated in consolidation.

2.

Non-controlling interests

Non-controlling interests are measured at the date of the business combination at either fair value, or at their proportionate interest in the identifiable assets and liabilities of the acquiree, on a transaction-by-transaction basis.

Foreign Currency

B.

Foreign Currency

The Company’s reporting currency is the USD; however, for most operations located in Europe, South America and Asia, the functional currency is the local currency.

The assets and liabilities of foreign operations, including goodwill and fair value adjustments from acquisition, are translated to USD at exchange rates at the reporting date. The income and expenses of foreign operations are translated to USD at exchange rates at the dates of the transactions. Foreign currency differences are recognized in other comprehensive income and are presented in equity in the foreign currency translation reserve (hereinafter –Translation Reserve) until the foreign entity is sold or liquidated. When a foreign operation is disposed of, the cumulative amount in the Translation Reserve is reclassified to profit or loss as a part of the capital gain or loss on disposal.

When the foreign operation is a non-wholly owned subsidiary of the Company, then the relevant proportionate share of the foreign operation translation difference is allocated to the non-controlling interests.

Generally, foreign currency differences from a monetary item receivable from or payable to a foreign operation, including foreign operations that are subsidiaries, are recognized in profit or loss in the consolidated financial statements. Foreign exchange gains or losses arising from a monetary item receivable from or payable to a foreign operation, the settlement of which is neither planned nor likely in the foreseeable future, are considered to form part of a net investment in a foreign operation and are recognized in other comprehensive income and are presented within equity in the Translation Reserve.

Financial Instruments

C.

Financial Instruments

1.

Non-derivative financial assets

ICL initially recognizes trade receivables and debt instruments issued on the date that they are originated and for all other financial assets at the trade date in which ICL becomes a party to the contractual provisions of the instrument. A financial asset is initially measured at fair value plus direct transaction costs and is classified according to ICL’s business model.

ICL has balances of trade and other receivables and deposits that are held within a business model whose objective is collecting contractual cash flows, which represent solely payments of principal and interest (for the time value and the credit risk). Accordingly, these financial assets are measured at amortized cost using the effective interest method.

Derecognition of financial assets occurs when the contractual rights of ICL to the cash flows from the asset expire, or when ICL transfers the rights to receive the contractual cash flows and substantially all the risks and rewards of ownership of the financial asset. When ICL retains substantially all the said risks and rewards, it continues to recognize the financial asset.

2.

Non-derivative financial liabilities

Non-derivative financial liabilities include bank overdrafts, loans and borrowings from banks and others, marketable debt instruments, lease liabilities, and trade and other payables.

ICL initially recognizes debt securities issued on the date that they originated. All other financial liabilities are recognized initially on the trade date at which ICL becomes a party to the contractual provisions of the instrument. Subsequent to initial recognition these financial liabilities are measured at amortized cost using the effective interest method. Derecognition of the financial liabilities occur when the obligation of ICL, as specified in the agreement, expires or when it is discharged or cancelled.

Change in terms of debt instruments:

A substantial modification of the terms of an existing financial liability or part of it and an exchange of debt instruments having substantially different terms, between an existing borrower and lender is accounted for as an extinguishment of the original financial liability and the recognition of a new financial liability at fair value.

In a non-substantial modification of terms (or exchange) of debt instruments, the new cash flows are discounted using the original effective interest rate, and the difference between the present value of the new financial liability and the present value of the original financial liability is recognized in profit or loss. For further information regarding ICL new RCF, see Note 13.

3.

Derivative financial instruments

ICL holds derivative financial instruments to reduce exposure to foreign currency risks, commodity price risks, energy, marine transportation prices and interest. Derivatives are recognized according to fair value and the changes in value are recorded in the statement of income as financing income or expense, except for derivatives used to hedge cash flows (accounting hedging). The attributable transaction costs are recorded in the statement of income as incurred.

Cash flow hedges:

Changes in the fair value of derivatives used to hedge cash flows, in accordance with the effective portion of the hedge, are recorded through other comprehensive income directly in a hedging reserve. With respect to the non‑effective portion, changes in the fair value are recognized in the statement of income. The amount accumulated in the capital reserve is reclassified and included in the statement of income in the same period as the hedged cash flows affected profit or loss under the same line item in the statement of income as the hedged item.

4.

CPI-linked assets and liabilities not measured at fair value

The value of index-linked financial assets and liabilities, which are not measured at fair value, is re‑measured every period in accordance with the actual increase/ decrease in the CPI.

5.

Share capital

Incremental costs directly attributable to the issue of ordinary shares and share options are recognized as a deduction from equity, net of any tax effects.

Treasury shares - when shares recognized as equity are repurchased by ICL, the amount of the consideration paid, which includes directly attributable costs, net of any tax effects, is recognized as a deduction from equity. Repurchased shares are classified as treasury shares and are presented in the treasury share reserve. When treasury shares are sold or reissued subsequently, the amount received is recognized as an increase in equity, and the resulting surplus on the transaction is carried to share premium, whereas a deficit on the transaction is deducted from retained earnings.

Property, plant and equipment

D.

Property, plant and equipment

1.

Recognition and measurement

Property, plant and equipment in the consolidated statements are presented at cost less accumulated depreciation and provision for impairment. The cost includes expenses that can be directly attributed to the acquisition of the asset, including material maintenance expenditures. The cost of assets that were self-constructed includes the cost of the materials and direct labor, as well as any additional costs that are directly attributable to bringing the asset to the required position and condition so that it will be able to function as management intended, as well as an estimate of the costs to dismantle, remove and restore, where there is an obligation for such, and capitalized borrowing costs.

2.

Subsequent Costs (after initial recognition)

The cost of replacing part of an item of property, plant and equipment and other subsequent costs is recognized as part of the book value of the item, if it is expected that the future economic benefit inherent therein will flow to ICL and that its cost can be reliably measured. The book value of the part that was replaced is derecognized. Routine maintenance costs are charged to the statement of income as incurred.

3.

Depreciation

Depreciation is recorded in the statement of income according to the straight-line method over the estimated useful life of each significant component of the property, plant and equipment items, including material maintenance expenditures. since this most closely reflects the expected pattern of consumption of the future economic benefits embodied in the asset. Owned land is not depreciated.

The estimated useful life is as follows:

	In Years
Buildings	15 - 30
Technical equipment and machinery (1)	5 - 35
Dikes and evaporating ponds (2)	20 - 43
Other	3 - 10

(1) Mainly 35 years

(2) Mainly 43 years

The Company reviews, at least at the end of every reporting year, the estimates regarding the depreciation method, useful lives and the residual value, and adjusts them if appropriate. Over the years, the Company has succeeded to extend the useful lives of part of property, plant and equipment items beyond the original estimated useful life, as a result of investments therein, adoption of new technologies, implementation of operational excellence processes and other current, ongoing maintenance thereof.

Intangible Assets

E.

Intangible Assets

Intangible assets with a defined useful life, are measured according to cost less accumulated amortization and accumulated losses from impairment. Intangible assets with indefinite useful lives are measured according to cost less accumulated losses from impairment.

1.

Goodwill

Goodwill recorded consequent to the acquisition of subsidiaries is presented at cost less accumulated impairment charges, under intangible assets.

2.

Research and development

Expenditures for research activities are expensed as incurred. Development expenditures are recognized as intangible asset only if development costs can be measured reliably, the product or process is technically and commercially feasible, future economic benefits are probable, and ICL has the intention and sufficient resources to complete development and to use or sell the asset.

3.

Amortization

Amortization is recorded in the statement of income according to the straight-line method from the date the assets are available for use, over the estimated useful economic life of the intangible assets, except for customer relationships and geological surveys, which are amortized according to the rate of consumption of the economic benefits expected from the asset based on cash flow forecasts.

Goodwill and intangible assets having an indefinite lifespan are not amortized on a systematic basis but, rather, are examined at least once a year for impairment in value. Internally generated intangible assets are not systematically amortized as long as they are not available for use, i.e., they are not yet on site or in working condition for their intended use. Accordingly, these intangible assets, such as development costs, are tested for impairment at least once a year, until such date as they are available for use.

The estimated useful life is as follows:

	In Years
Concessions and mining rights – over the remaining duration of the rights granted
Trademarks	15 - 20
Technology / patents	7 - 20
Customer relationships	15 - 25
Computer applications	3 - 10

ICL periodically examines the estimated useful life of an intangible asset that is not amortized, at least once a year, in order to determine if events and circumstances continue to support the determination that the intangible asset has an indefinite life.

Deferred expenses in respect of geological surveys are amortized over their useful life based on a geological estimate of the amount of the material that will be produced from the mining site.

The estimates regarding the amortization method and useful life are reviewed, at a minimum, at the end of every reporting year and are adjusted where necessary. ICL assesses the useful life of the customer relationships on an ongoing basis, based on an analysis of all the relevant factors and evidence, considering the experience the Company has with respect to recurring orders and churn rates and considering the future economic benefits expected to flow to the Company from these customer relationships.

Inventories

F.

Inventories

Inventories are measured at the lower of cost or net realizable value. The cost of the inventories includes the costs of purchasing the inventories and bringing them to their present location and condition. In the case of work in process and finished goods, the cost includes the proportionate part of the manufacturing overhead based on normal capacity. Net realizable value is the estimated selling price in the ordinary course of business, after deduction of the estimated cost of completion and the estimated costs required to execute the sale.

The cost of the inventories of raw and auxiliary materials, maintenance materials, finished goods and goods in process, is determined mainly according to the “moving average” method.

If the benefit from stripping costs (costs of removing waste produced as part of a mine's mining activities during its production stage) is attributable to inventories, the Company accounts for these stripping costs as inventories. In a case where the benefit is improved access to the quarry, the Company recognizes the costs as a non‑current addition to the asset, provided the criteria presented in IFRIC 20 are met. Inventories which are expected to be sold in a period of more than 12 months from the reporting date are presented as non-current inventories, as part of non-current assets.

Financing Income and Expenses

G.

Impairment

1.

Non-derivative financial assets

Provision for expected credit losses in respect of a financial asset at amortized cost, including trade receivables, is measured at an amount equal to the full lifetime of expected credit losses. Expected credit losses are a probability-weighted estimate of credit losses. With respect to other debt instruments, provision for expected credit losses is measured at an amount equal to 12-month expected credit losses, unless their credit risk has increased significantly since initial recognition. Provision for such losses in respect of a financial asset at amortized cost, is presented net of the gross book value of the asset.

2.

Non-financial assets

In each reporting period, an examination is made with respect to whether there are impairment- indicators relating to the value of ICL’s non-financial assets, other than inventories and deferred tax assets. If such indicators exist, the estimated recoverable amount of the asset is calculated. ICL conducts an annual examination, on the same date, of the recoverable amount of goodwill and intangible assets with indefinite useful lives or those that are not available for use – or more frequently if there are indications of impairment. For further information, see Note 12.

The recoverable amount of an asset or a cash-generating unit is the higher of its value in use or the fair value less cost of disposal. When determining the value in use, ICL discounts the anticipated future cash flows according to an after-tax discount rate that reflects the evaluations of the market's participants regarding the time value of money and the specific risks relating to the asset or to the cash-generating unit, in respect of which the future cash flows expected to derive from the asset or the cash-generating unit were not adjusted.

Assets of the Company's headquarters and administrative facilities do not produce separate cash flows and they serve more than one cash-generating unit. Such assets are allocated to cash-generating units on a reasonable and consistent basis and are examined for impairment as part of the examination of impairment of the cash-generating units to which they are allocated.

Employee Benefits

H. Employee Benefits

ICL has several post-employment benefit plans. The plans are funded partly by deposits with insurance companies, financial institutions or funds managed by a trustee. The plans are classified as defined contribution plans and as defined benefit plans. For further information, see Note 16.

1.

Defined contribution plans

A post-employment benefit plan under which ICL pays fixed contributions into a separate entity and has no legal or constructive obligation to pay further amounts.

ICL’s obligation to deposit in a defined contribution plan is recorded as an expense in the statement of income in the periods in which the employees provided the services.

Retirement benefit plans that are not defined contribution plans:

ICL’s net obligation is calculated for each plan separately, by estimating the future amount of the benefit to which an employee will be entitled as compensation for services in the current and past periods. The benefit is presented at present value after deducting the fair value of the plan's assets.

2.

Defined benefit plans

The movement in the net liability in respect of a defined benefit plan that is recognized in every accounting period in the statement of income is comprised of the following: (1) Current service costs; (2) The net financing income (expense); (3) Exchange rate differences; (4) Past service costs and plan reduction.

The difference, as of the date of the report, between the net liability at the beginning of the year plus the movement in the net liability as detailed above, and the actuarial liability less the fair value of the fund assets at the end of the year, reflects the balance of the actuarial income or expenses recognized in other comprehensive income and is recorded in retained earnings.

3.

Early Retirement Payments

Early retirement payments are recognized as an expense and as a liability when ICL has clearly undertaken to pay it, without any reasonable chance of cancellation, in respect of termination of employees, before they reach the customary age of retirement according to a formal, detailed plan. The benefits provided to employees upon voluntary retirement are charged when ICL proposes the plan to the employees, it is expected that the proposal will be accepted, and it is possible to reliably estimate the number of employees that will accept the proposal.

4.

Short‑term benefits

Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as the related service is provided or upon the actual absence of the employee when the benefit is not accumulated (such as maternity leave).

Provisions

I.

Provisions

A provision is recognized when ICL has a present legal or implied obligation, as the result of an event that occurred in the past, that can be reliably estimated, and when it is expected that an outflow of economic benefits will be required in order to settle the obligation. In rare cases where it is not possible to estimate the outcome of a potential liability, no provision is recorded in the financial statements.

1.

Provision for environmental costs

ICL recognizes a provision for an existing obligation for prevention of environmental pollution and anticipated provisions for costs relating to environmental restoration stemming from past activities.

Costs for preventing environmental pollution that increase the life expectancy or efficiency of a facility are capitalized to the cost of the property, plant and equipment and are depreciated according to the usual depreciation rates used by ICL.

2.

Site restoration

A provision for reclamation and restoration of ICL's sites is recognized when the Company has a legal obligation which could arise, among others, from environmental regulations.

3.

Legal claims

A provision for legal claims is recognized when ICL has a present legal or constructive obligation as a result of an event that occurred in the past, if it is more likely than not that an outflow of economic resources will be required to settle the obligation and it can be reliably estimated.

Revenue Recognition

J.

Revenue Recognition

1.

Identifying a contract

ICL accounts for a contract with a customer only when the following conditions are met: (a) The parties to the contract have approved the contract and they are committed to satisfying the obligations attributable to them; (b) ICL can identify the rights of each party in relation to the goods that will be transferred; (c) ICL can identify the payment terms for the goods that will be transferred; (d) The contract has a commercial substance (i.e. the risk, timing and amount of the entity’s future cash flows are expected to change as a result of the contract); and (e) It is probable that the consideration, to which ICL is entitled to in exchange for the goods transferred to the customer, will be collected.

For the purpose of clause (e) above, ICL takes into consideration its past experience with the customer, the customer's financial stability information, the status and existence of sufficient collateral and the percentage of advances received.

2.

Identifying performance obligations

ICL is a global specialty minerals and chemicals company engaged in the sale of various goods produced in its different segments of operation. ICL's contracts primarily derived from a single performance obligation to deliver the product specified in the contract. For additional information about the Company's products, see note 5 – Operating Segments.

3.

Determining the transaction price

ICL's transaction price is the amount of the consideration specified in the contract with the customer, which it expects to be entitled in exchange for the goods promised to the customer, other than amounts collected for third parties. The variable considerations at ICL, which are mainly trade discounts, commercial returns and volume rebates, have no material impact on the Company's financial statements.

4.

Satisfaction of performance obligation

Revenue is recognized at the point in time, when the Company transfers control over promised goods to the customer. The transfer of control over goods to a customer generally takes place upon shipment or when accepted by the customer, as provided for in the sales contract.

5.

Payment terms

ICL has various payment terms which are aligned with the acceptable commercial conditions in the relevant markets. ICL's policy is to engage in agreements with payment terms not exceeding one year and applies the practical expedient to not separate a significant financing component where the difference between the time of receiving payment and the time of transferring the goods to the customer is one year or less.

Government grants

K.

Government grants

Government grants are recognized initially at fair value when there is reasonable assurance that they will be received, and the Group will comply with the conditions associated with the grant. Unconditional government grants are recognized when the Group is entitled to receive them.

Leases

L.

Leases

Determining whether an arrangement contains a lease

On the inception date of the lease, ICL determines whether the arrangement is a lease or contains a lease, while examining if it conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

For lease contracts that contain non-lease components, such as services or maintenance, that are related to a lease component, ICL accounts for the contract as a single lease component without separating the components.

ICL has elected to apply the practical expedient by which short-term leases of up to one year and/or leases in which the underlying asset has a low value, are recognized in profit or loss on a straight-line basis, over the lease term, without recognizing an asset and/or liability in the statement of financial position.

The lease term is the non-cancellable period of the lease plus periods covered by an extension or termination option if it is reasonably certain that the lessee will or will not exercise the option, respectively.

Variable lease payments that depend on an index or a rate, are initially measured using the index or rate existing at the commencement of the lease and are included in the measurement of the lease liability. When the cash flows of future lease payments change as the result of a change in an index or a rate, the balance of the liability is adjusted against the right-of-use asset. Other variable lease payments that are not included in the measurement of the lease liability are recognized in profit or loss in the period in which the event or condition that triggers payment occurs.

M.

Financing Income and Expenses

Financing income includes income from interest on amounts invested, gains from derivative financial instruments recognized in the statement of income, foreign currency gains and financing income recorded in relation to employee benefits. Interest income is recognized as accrued, using the effective interest method.

Financing expenses include interest on loans received, securitization transaction costs, losses from derivative financial instruments, changes due to the passage of time in liabilities in respect of defined benefit plans for employees less interest income deriving from plan assets of a defined benefit plan for employees and losses from exchange rate differences.

Gains and losses from exchange rate differences and derivative financial instruments are reported on a net basis.

In the consolidated statements of cash flows, interest received is presented as cash flow from investing activities, and interest paid is presented as cash flow used in finance activities. Dividends paid are presented as part of cash flows from financing activity. For further information, see Note 3(P) below.

Taxes on Income

N.

Taxes on Income

Taxes on income (including surplus profit levy on natural resources) contain current and deferred taxes, that are recognized in profit or loss, unless they relate to a business combination or are recognized directly in equity or in other comprehensive income when they relate to items recognized directly in equity or in other comprehensive income.

A provision for uncertain tax positions, including additional tax and interest expenses, is recognized when it is more likely than not that ICL will have to pay the obligation.

The Company does not recognize deferred taxes for the following temporary differences: initial recognition of goodwill and differences deriving from investments in subsidiaries, if it is not expected that they will reverse in the foreseeable future and if ICL controls the date the provision will reverse, whether via sale or distribution of a dividend. Deferred taxes in respect of intra-company transactions in the consolidated financial statements are recorded according to the tax rate applicable to the buying company.

Deferred tax assets are examined at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized.

Current and deferred tax assets and liabilities are offset if there is a legally enforceable right and they relate to income taxes levied by the same tax authority on the same taxable entity, or on different tax entities, but they intend to settle on a net basis.

ICL could become liable for additional taxes in the case of distribution of intercompany dividends between ICL's companies. These additional taxes are not included in the financial statements as ICL's companies decided not to cause distribution of a dividend that involves additional taxes to the paying company in the foreseeable future. In cases where an investee company is expected to distribute a dividend involving additional tax, the Company records a reserve for expected additional taxes.

Amendments to standards and interpretations that have not yet been adopted

O. Amendments to standards and interpretations that have not yet been adopted

IFRS 18, presentation and disclosure in the financial statements

This standard replaces the international accounting standard IAS 1 Presentation of financial statements. In addition, income statement items will be classified into three defined categories: operating, investment and financing. The standard also includes a requirement to provide a separate disclosure in the financial statements regarding the use of management-defined performance measures ("non-GAAP" measures), and specific instructions were added for the grouping and splitting of items in the financial statements and in the notes. IFRS 18 is effective for annual reporting periods beginning on or after January 1, 2027, with an option for early adoption. The Company is examining the effects of the Amendment on the financial statements with no plans for early adoption.

Amendments to IFRS 9, Financial Instruments, and IFRS 7, Financial Instruments: Disclosures

The amendments provide clarifications relating to the date of recognition and derecognition of financial instruments. In accordance with the amendments, an exception is added regarding the timing of derecognizing financial liabilities settled by electronic cash transfers, as well as clarification relating to disclosure requirements for financial instruments with contingent features that are not directly related to changes in the basic risks/cost of the instrument.

The amendments are effective for annual reporting periods beginning on or after January 1, 2026. The Company is examining the effects of the Amendment on the financial statements with no plans for early adoption.

Reclassification

P. Reclassification

The Company made a number of insignificant adjustments to the classification of comparative figures in order to adjust them to the manner of classification in the current financial statements. The said reclassifications have no effect on the total profit (loss).

Nonetheless, commencing with the second quarter of 2024, management decided to reclassify interest received as cash flows from investing activities and interest paid as cash flows from financing activities, instead of under cash provided by operating activities. Management believes that the revised classification provides a more comprehensive view of the financing cost and the nature of financing transactions. Comparative figures have been retrospectively adjusted in the statement of cash flows to reflect this policy change.

Material Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2024

Summary Of Significant Accounting Policies [Abstract]

Schedule of estimated useful lives of property, plant and equipment

The estimated useful life is as follows:

	In Years
Buildings	15 - 30
Technical equipment and machinery (1)	5 - 35
Dikes and evaporating ponds (2)	20 - 43
Other	3 - 10

(1) Mainly 35 years

(2) Mainly 43 years

Schedule of estimated useful lives of intangible assets

The estimated useful life is as follows:

	In Years
Concessions and mining rights – over the remaining duration of the rights granted
Trademarks	15 - 20
Technology / patents	7 - 20
Customer relationships	15 - 25
Computer applications	3 - 10

Operating Segments (Tables)

12 Months Ended

Dec. 31, 2024

Disclosure of operating segments [abstract]

Schedule of operating segment data

B. Operating segment data

	Industrial Products	Potash	Phosphate Solutions	Growing Solutions	Other Activities	Reconciliations	Consolidated
	$ millions

For the year ended December 31, 2024

Sales to external parties	1,220	1,462	2,049	1,932	178	-	6,841
Inter-segment sales	19	194	166	18	3	(400)	-
Total sales	1,239	1,656	2,215	1,950	181	(400)	6,841

Cost of sales	821	1,006	1,515	1,426	175	(358)	4,585
Segment operating income (loss)	224	250	358	128	(22)	(65)	873
Other expenses not allocated to the segments							(98)
Operating income							775

Financing expenses, net							(140)
Share in earnings of equity-accounted investees							1
Income before income taxes							636

Depreciation, amortization and impairment	57	242	191	74	15	31	610
Capital expenditures	94	332	340	98	8	30	902
Capital expenditures as part of business combination	-	-	-	92	-	-	92

	Industrial Products	Potash	Phosphate Solutions	Growing Solutions	Other Activities	Reconciliations	Consolidated
	$ millions

For the year ended December 31, 2023

Sales to external parties	1,206	1,973	2,141	2,047	169	-	7,536
Inter-segment sales	21	209	209	26	3	(468)	-
Total sales	1,227	2,182	2,350	2,073	172	(468)	7,536

Cost of sales	815	1,011	1,658	1,641	178	(438)	4,865
Segment operating income (loss)	220	668	350	51	(34)	(37)	1,218
Other expenses not allocated to the segments							(77)
Operating income							1,141

Financing expenses, net							(168)
Share in earnings of equity-accounted investees							1
Income before income taxes							974

Depreciation and amortization	57	175	207	68	17	12	536

Capital expenditures	91	384	270	92	13	23	873

	Industrial Products	Potash	Phosphate Solutions	Growing Solutions	Other Activities	Reconciliations	Consolidated
	$ millions

For the year ended December 31, 2022

Sales to external parties	1,737	3,031	2,676	2,376	195	-	10,015
Inter-segment sales	29	282	255	46	3	(615)	-
Total sales	1,766	3,313	2,931	2,422	198	(615)	10,015

Cost of sales	890	1,020	1,795	1,648	191	(561)	4,983
Segment operating income (loss)	628	1,822	785	378	(17)	(87)	3,509
Other income not allocated to the segments							7
Operating income							3,516

Financing expenses, net							(113)
Share in earnings of equity-accounted investees							1
Income before income taxes							3,404

Depreciation and amortization	61	166	179	70	13	9	498

Capital expenditures	90	346	254	101	14	17	822

Schedule of sales by geographical location of the customers

The following table presents the distribution of ICL's sales by geographical location of the customer:

	2024		2023		2022
	$ millions	% of sales	$ millions	% of sales	$ millions	% of sales

Brazil	1,228	18	1,530	20	2,200	22
USA	1,176	17	1,262	17	1,457	15
China	1,068	16	1,059	14	1,495	15
United Kingdom	317	5	428	6	448	4
Germany	315	5	340	5	417	4
Spain	301	4	348	5	365	4
Israel	285	4	274	4	344	3
France	256	4	254	3	305	3
India	197	3	196	3	505	5
Netherlands	149	2	171	2	264	3
All other	1,549	22	1,674	21	2,215	22
Total	6,841	100	7,536	100	10,015	100

Schedule of sales by geographical location of the customer by operating segments

The following table presents the distribution of the operating segments sales by geographical location of the customer:

	Industrial Products	Potash	Phosphate Solutions	Growing Solutions	Other Activities	Reconciliations	Consolidated
	$ millions

For the year ended December 31, 2024
Europe	391	478	542	731	128	(147)	2,123
Asia	438	352	613	249	31	(19)	1,664
South America	21	402	307	627	-	(4)	1,353
North America	329	202	567	170	3	(4)	1,267
Rest of the world	60	222	186	173	19	(226)	434
Total	1,239	1,656	2,215	1,950	181	(400)	6,841

	Industrial Products	Potash	Phosphate Solutions	Growing Solutions	Other Activities	Reconciliations	Consolidated
	$ millions

For the year ended December 31, 2023
Europe	432	624	613	746	126	(209)	2,332
Asia	361	539	587	257	30	(30)	1,744
South America	25	524	368	753	-	(5)	1,665
North America	349	260	614	138	2	(12)	1,351
Rest of the world	60	235	168	179	14	(212)	444
Total	1,227	2,182	2,350	2,073	172	(468)	7,536

	Industrial Products	Potash	Phosphate Solutions	Growing Solutions	Other Activities	Reconciliations	Consolidated
	$ millions

For the year ended December 31, 2022
Europe	574	698	755	880	144	(242)	2,809
Asia	664	1,008	781	286	36	(32)	2,743
South America	40	938	496	849	-	(8)	2,315
North America	401	365	654	166	1	(10)	1,577
Rest of the world	87	304	245	241	17	(323)	571
Total	1,766	3,313	2,931	2,422	198	(615)	10,015

Schedule of sales by geographical location of the assets

The following table presents the distribution of the Company’s sales by geographical location of the main facilities from which they were produced.

For the year ended December 31
2024	2023	2022
$ millions	$ millions	$ millions

Israel	3,118	3,595	5,611
Europe	2,368	2,610	3,361
South America	1,213	1,482	1,994
North America	1,000	999	1,038
Asia	802	788	1,123
Other	55	52	61
	8,556	9,526	13,188
Intercompany sales	(1,715)	(1,990)	(3,173)
Total	6,841	7,536	10,015

Schedule of operating income (loss) by geographical location of the assets

The following table presents operating income by geographical location of the assets from which it was produced:

For the year ended December 31
2024	2023	2022
$ millions	$ millions	$ millions

Israel	516	857	2,668
Asia	185	130	221
South America	115	112	184
Europe	(11)	74	445
North America	(5)	45	131
Other	7	4	5
Intercompany eliminations	(32)	(81)	(138)
Total	775	1,141	3,516

Schedule of non-current assets by geographical location of the assets

The following table present the non-current assets by geographical location of the assets (*)

	As of December 31
	2024	2023
	$ millions	$ millions

Israel	4,637	4,454
Europe	1,518	1,581
North America	450	369
Asia	435	441
South America	389	456
Other	5	5
Total	7,434	7,306

(*) Mainly consist of property, plant and equipment, intangible assets and non-current inventories.

Inventories (Tables)

12 Months Ended

Dec. 31, 2024

Notes to Consolidated Financial Statements [Abstract]

Schedule of inventories

	As of December 31
	2024	2023
	$ millions	$ millions

Finished products	1,071	1,117
Raw materials	321	329
Work in progress	164	174
Spare parts	147	157
Total inventories	1,703	1,777
Of which:
Non-current inventories - mainly raw materials (presented as non-current assets)	77	74
Current inventories	1,626	1,703

Prepaid expenses and other receivables (Tables)

12 Months Ended

Dec. 31, 2024

Trade and other receivables [abstract]

Schedule of prepaid expenses and other receivables

	As of December 31
	2024	2023
	$ millions	$ millions

Government institutions	110	104
Current tax assets	51	67
Prepaid expenses	41	35
Derivative instruments	16	53
Receivables from equity-accounted investees sale	2	17
Other	38	87
	258	363

Investments In Subsidiaries (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of non-controlling interests in subsidiaries - balance Sheet

	As of December 31
	2024	2023
	$ millions	$ millions

Current assets	270	278
Non-current assets	365	376
Current liabilities	(96)	(102)
Non-current liabilities	(38)	(43)
Equity	(501)	(509)

Schedule of non-controlling interests in subsidiaries - profit and Loss

For the year ended December 31
2024	2023	2022
$ millions	$ millions	$ millions

Sales	579	546	723
Operating Income	152	105	146
Depreciation and amortization	37	33	34
Operating income before depreciation and amortization	189	138	180
Net Income	114	85	116
Total Comprehensive income	103	71	78

Other non-current assets (Tables)

12 Months Ended

Dec. 31, 2024

Other Noncurrent Assets [Abstract]

Schedule of other non-current assets

	As of December 31
	2024	2023
	$ millions	$ millions

Surplus in employees' defined benefit plans ⁽¹⁾	134	112
Non-current inventories	77	74
Receivables from equity-accounted investees sale	9	9
Long term deposits	8	11
Investments in equity-accounted investees	3	2
Derivative designated as a cash flow hedge	3	1
Other	27	30
	261	239

(1)

See Note 16.

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2024

Disclosure of detailed information about property, plant and equipment [abstract]

Schedule of property, plant and equipment

	Land and buildings	Technical equipment and machinery	Dikes and evaporating ponds ⁽³⁾	Plants under construction ⁽¹⁾	Other	Right of use asset ⁽²⁾	Total
	$ millions

Cost
Balance as of January 1, 2024	1,140	8,280	2,025	523	1,219	579	13,766
Additions in respect of business combinations	4	5	-	-	1	-	10
Additions	49	393	137	98	88	97	862
Disposals	(8)	(66)	(29)	-	(3)	(41)	(147)
Translation differences	(53)	(108)	(20)	(15)	(6)	(17)	(219)
Balance as of December 31, 2024	1,132	8,504	2,113	606	1,299	618	14,272
Accumulated depreciation
Balance as of January 1, 2024	544	4,765	885	-	1,018	225	7,437
Additions in respect of business combinations	1	2	-	-	1	-	4
Depreciation⁽³⁾	32	256	148	-	65	86	587
Impairment	-	14	-	-	-	-	14
Disposals	(6)	(60)	(29)	-	(3)	(27)	(125)
Translation differences	(15)	(63)	(16)	-	(5)	(8)	(107)
Balance as of December 31, 2024	556	4,914	988	-	1,076	276	7,810

Depreciated balance as of December 31, 2024	576	3,590	1,125	606	223	342	6,462

(1)

The additions are presented net of items whose construction has been completed and therefore have been reclassified to other categories in “property, plant and equipment”.

(2)

The total additions were recorded against lease liabilities under IFRS 16.

(3)

Depreciation expenses allocation in the amount of $37 million on the "Dikes and evaporating ponds" assets.

	Land and buildings	Technical equipment and machinery	Dikes and evaporating ponds ⁽³⁾	Plants under construction ⁽¹⁾	Other	Right of use asset ⁽²⁾	Total
	$ millions

Cost
Balance as of January 1, 2023	1,086	7,865	1,834	518	1,144	533	12,980
Additions	35	455	179	(3)	78	94	838
Disposals	(4)	(98)	-	(2)	(4)	(51)	(159)
Translation differences	23	58	12	10	1	3	107
Balance as of December 31, 2023	1,140	8,280	2,025	523	1,219	579	13,766
Accumulated depreciation
Balance as of January 1, 2023	512	4,545	829	-	936	189	7,011
Depreciation	27	254	46	-	84	83	494
Disposals	(1)	(68)	-	-	(3)	(49)	(121)
Translation differences	6	34	10	-	1	2	53
Balance as of December 31, 2023	544	4,765	885	-	1,018	225	7,437

Depreciated balance as of December 31, 2023	596	3,515	1,140	523	201	354	6,329

(1)

The additions are presented net of items for which construction has been completed and, accordingly, were reclassified to other categories in the “property, plant and equipment” section.

(2)

The total additions were recorded against lease liabilities (IFRS 16).

(3)

The Company conducted a useful life evaluation of Property, Plant and Equipment at its facilities in Israel. As a result, the estimated useful lives of the certain assets have been extended by 2‑5 years, effective from January 1, 2023, and the depreciation expenses has been reduced by $16 million.

Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2024

Notes to Consolidated Financial Statements [Abstract]

Schedule of intangible assets - composition

	Goodwill	Concessions and mining rights	Trademarks	Technology / patents	Customer relationships	Computer application	Others	Total
	$ millions

Cost
Balance as of January 1, 2024	549	211	86	119	200	166	73	1,404
Additions in respect of business combinations	85	-	-	-	-	-	-	85
Additions	-	5	-	-	-	31	2	38
Disposals	-	-	-	-	-	(1)	(3)	(4)
Translation differences	(73)	(4)	(4)	(5)	(14)	(2)	(1)	(103)
Balance as of December 31, 2024	561	212	82	114	186	194	71	1,420
Amortization
Balance as of January 1, 2024	19	91	37	66	160	95	63	531
Amortization for the year	-	7	2	5	12	17	3	46
Retirements	-	-	-	-	-	(1)	(3)	(4)
Translation differences	(1)	-	(2)	(3)	(10)	(2)	(4)	(22)
Balance as of December 31, 2024	18	98	37	68	162	109	59	551

Amortized Balance as of December 31 ,2024	543	114	45	46	24	85	12	869

	Goodwill	Concessions and mining rights	Trademarks	Technology / patents	Customer relationships	Computer application	Others	Total
	$ millions

Cost
Balance as of January 1, 2023	526	210	84	108	194	142	69	1,333
Additions	-	1	-	8	-	24	2	35
Disposals	-	-	-	-	-	(1)	-	(1)
Translation differences	23	-	2	3	6	1	2	37
Balance as of December 31, 2023	549	211	86	119	200	166	73	1,404
Amortization
Balance as of January 1, 2023	19	85	34	60	144	82	57	481
Amortization for the year	-	6	2	5	12	12	5	42
Translation differences	-	-	1	1	4	1	1	8
Balance as of December 31, 2023	19	91	37	66	160	95	63	531
				-
Amortized Balance as of December 31 ,2023	530	120	49	53	40	71	10	873

Schedule of total book value of intangible assets having defined and indefinite useful lives

	As of December 31
	2024	2023
	$ millions	$ millions

Intangible assets having a defined useful life	294	311
Intangible assets having an indefinite useful life	575	562
	869	873

Impairment Testing (Tables)

12 Months Ended

Dec. 31, 2024

Impairment Testing [Abstract]

Schedule of intangible assets with an indefinite useful life

	As of December 31
	2024	2023
	$ millions	$ millions

Goodwill
Phosphate Solutions	90	114
Industrial Products	89	91
Growing Solutions	318	289
Potash	18	20
Other	28	16
	543	530

Trademarks	32	32

	575	562

Credit from Banks and Others (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of yearly movement in credit from banks and others

Schedule of composition

A.

Composition

	As of December 31
	2024	2023
	$ millions	$ millions

Short-term debt
From financial institutions	276	283
Current maturities of:
Debentures	4	441
Long-term loans from financial institutions	26	62
Lease Liability	78	72
	108	575
Total Short-Term debt	384	858
Long- term debt and debentures
Long term lease liability	264	276
Loans from financial institutions	801	734
	1,065	1,010

Marketable debentures	906	1,203
Non-marketable debentures	46	191
	952	1,394
	2,017	2,404
Less – current maturities of:
Debentures	4	441
Long-term loans from financial institutions	26	62
Lease liability	78	72
	108	575

Total Long- term debt and debentures	1,909	1,829

B.

Yearly movement in Credit from Banks and Others (*)

	As of December 31
	2024	2023
	$ millions	$ millions

Balance as of January 1	2,703	2,813
Changes from financing cash flows
Receipt of long-term debts	889	633
Repayment of long-term debt	(1,302)	(836)
Repayment of short-term credit	(1)	(25)
Interest paid	(122)	(125)
Receipt from transaction in derivatives, net	(2)	5
Total net financing cash flows	(538)	(348)
Initial recognition of lease liability	97	94
Interest expenses	152	164
Effect of changes in foreign exchange rates	(60)	18
Change in fair value of derivatives	-	26
Other changes	(53)	(64)
Balance as of December 31	2,301	2,703

(*) The balance includes Short-term debt, loans and debentures, derivatives on loans and debentures, and interest payables.

Schedule of information on material loans and debentures

D.

Information on material loans and debentures outstanding as of December 31, 2024:

Instrument type	Loan date	Original principal (millions)	Currency	Carrying amount ($ millions)	Interest rate	Principal repayment date	Additional information
Debentures - Series F	May 2018, December 2020	693	US Dollar	713	6.38%	May 2038	(2), (3)
Debentures - Series G	January/May 2020	766	Israeli Shekel	193	2.40%	2022- 2034 (annual installment)	Partially repaid (3), (4)
Debentures (private offering) – 3 series	January 2014	275	US Dollar	46	5.31%	January 2026	(1)
Sustainability linked loan (SLL)	September 2021	250	Euro	260	0.80%	September 2026	(5)
Loan - European Bank	September 2021	25	Euro	26	0.95%	June 2025

Schedule of credit facilities

E.

Credit facilities:

Issuer	Group of international banks
Date of the credit facility	April 2023
Date of credit facility termination	April 2029
The amount of the credit facility	USD 1,550 million ⁽¹⁾
Credit facility has been utilized	Euro 500 million
Interest rate	Up to 33% use of credit: Euribor/ SOFR + 0.69%. From 33% to 66% use of credit: Euribor/ SOFR + 0.89% 66% or more use of credit: Euribor/ SOFR + 1.04%
Loan currency type	USD and Euro loans
Pledges and restrictions	Financial covenants - see Section F, a cross-default mechanism and a negative pledge ⁽²⁾
Non-utilization fee	0.245%

(1)

In April 2023, the Company entered into a Sustainability-Linked Revolving Credit Facility Agreement between ICL Finance B.V., as borrower, and a consortium of twelve international banks for $1,550 million. The Sustainability-Linked RCF replaced a previous revolving credit facility which was due to expire in 2025. In April 2024, all lenders exercised the option to extend the agreement by one year, until April 2029.

(2)

In line with ICL’s strategic commitment to sustainability, the Sustainability-Linked RCF follows ICL’s initial Sustainability-Linked Term Loan dated September 2021. The Sustainability-Linked RCF includes three Key Performance Indicators (KPIs) which have been designed to align with ICL’s sustainability goals: a reduction in Absolute Scope 1 & 2 GHG Emissions; an increase in the percentage of female representation among senior ICL management; and an increase in the number of valid TfS (Together for Sustainability initiative) scorecards obtained for ICL Group suppliers. Each of these goals will be assessed regularly during the term of the Sustainability-Linked RCF through third-party verification of ICL’s performance in these areas.

Schedule of restrictions on the group relating to the receipt of credit

Financial Covenants:

Financial Covenants ⁽¹⁾⁽²⁾	Financial Ratio Required under the Agreement	Financial Ratio December 31,
		2024

Total shareholder's equity	Equity above $2,000 million	$ 5,724 million
Ratio of EBITDA to the net interest expenses	Equal to or above 3.5	14.15
Ratio of the net financial debt to EBITDA	Less than 3.5	1.19
Ratio of certain subsidiaries loans to the total assets of the consolidated company	Less than 10%	2.64%

(1)

The examination of compliance with the financial covenants is based on the Company's consolidated financial statements. As of December 31, 2024, the Company complies with all of its financial covenants.

(2)

The EBITDA calculation for the financial covenants, which amounted to $1,412 million in 2024, is according to the agreements with the financial institutions.

Other Payables (Tables)

12 Months Ended

Dec. 31, 2024

Trade and other payables [abstract]

Schedule of other payables

	As of December 31
	2024	2023
	$ millions	$ millions

Employees	353	309
Current tax liabilities	215	170
Accrued expenses	88	91
Governmental (mainly in respect of royalties)	105	88
Income received in advance	21	17
Derivative instruments	13	7
Others	84	101
	879	783

(1)

Including post-employment liabilities in the amount of $19 million and $22 million as of December 31, 2024 and 2023, respectively. See Note 16.

Taxes on Income (Tables)

12 Months Ended

Dec. 31, 2024

Major components of tax expense (income) [abstract]

Schedule of tax rates of subsidiaries incorporated outside of Israel

Country	Tax rate	Note
Brazil	34%
Germany	29%
United States	26%	⁽¹⁾
Netherlands	25.8%
Spain	25%
China	25%
United Kingdom	25%	⁽²⁾

(1)

The tax rate is an estimated average and includes federal and states tax. Different rate may apply in each specific year, as a result of different allocation of income between the different states.

(2)

The tax rate in the UK was increased from 19% to 25% since April 1, 2023.

(3)

In accordance with the legislation of BEPS Pillar 2 which entered into effect in 2024, there are several territories in which the Company operates, where the local tax rate may require a supplement to a minimum taxation of 15%. Based on the Company estimation, no material impact is expected on its results from the above legislation.

Schedule of reconciliation of changes in deferred tax liability (asset)

In respect of financial position				In respect of carry forward tax losses	Total
Depreciable property, plant and equipment and intangible assets	Inventories	Provisions for employee benefits	Other
$ millions

Balance as of January 1, 2023	(547)	72	64	19	119	(273)
Changes in 2023:
Amounts recorded in the statement of income	(46)	(22)	(5)	(4)	19	(58)
Amounts recorded to a capital reserve	-	-	(8)	(4)	-	(12)
Translation differences	(3)	-	1	4	4	6
Balance as of December 31, 2023	(596)	50	52	15	142	(337)
Changes in 2024:
Amounts recorded in the statement of income	(36)	(7)	4	33	23	17
Amounts recorded to a capital reserve	-	-	(8)	-	-	(8)
Translation differences	9	(1)	(1)	(7)	(10)	(10)
Balance as of December 31, 2024	(623)	42	47	41	155	(338)

Schedule of deferred taxes denominated by currencies

	As of December 31
	2024	2023
	$ millions	$ millions

Israeli Shekels	(432)	(420)
Euro	51	38
Brazilian Real	15	24
British Pound	11	11
U.S Dollar	9	1
Other	8	9
	(338)	(337)

Schedule of composition of the taxes on income

For the year ended December 31
2024	2023	2022
$ millions	$ millions	$ millions

Current taxes	184	251	869
Deferred taxes	(20)	47	45
Taxes in respect of prior years	8	(11)	271
	172	287	1,185

Schedule of effective income tax rate reconciliation

For the year ended December 31
2024	2023	2022
$ millions	$ millions	$ millions

Income before taxes on income, as reported in the statements of income	636	974	3,404
Statutory tax rate (in Israel)	23%	23%	23%
Theoretical tax expense	146	224	783
Add (less) – the tax effect of:
Surplus Profit Levy tax	3	62	265
Reduced tax due to tax benefits	(12)	(17)	(95)
Differences deriving from additional deduction and different tax rates applicable to foreign subsidiaries	(19)	(32)	1
Tax on dividend	6	4	5
Deductible temporary differences and their reversal (including carryforward losses) for which deferred taxes assets were not recorded and non–deductible expenses	29	52	(29)
Taxes in respect of prior years*	8	(11)	271
Differences in measurement basis	3	2	(21)
Other differences	8	3	5
Taxes on income included in the income statements	172	287	1,185

* For 2022, included the settlement agreement related to surplus profit levy, as described above.

Schedule of taxes on income relating to items recorded in equity

For the year ended December 31
2024	2023	2022
$ millions	$ millions	$ millions

Tax recorded in other comprehensive income
Actuarial gains from defined benefit plan	(8)	(8)	(12)
Change in fair value of hedging derivatives	(2)	(4)	4
Taxes in respect of exchange rate differences on equity loan to a subsidiary included in translation adjustment	27	(9)	(11)
Total	17	(21)	(19)

Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2024

Classes of employee benefits expense [abstract]

Schedule of composition of employee benefits

	As of December 31
	2024	2023
	$ millions	$ millions

Fair value of plan assets	444	453
Termination benefits	(54)	(64)
Defined benefit obligation	(605)	(653)
	(215)	(264)

Schedule of composition of fair value of the plan assets

	As of December 31
	2024	2023
	$ millions	$ millions

Equity instruments
With quoted market price	119	138
Without quoted market price	31	38
	150	176
Debt instruments
With quoted market price	194	240
Without quoted market price	76	13
	270	253
Deposits with insurance companies	24	24

	444	453

Schedule of movement in net defined benefit assets (liabilities)

Fair value of plan assets ^(*)		Defined benefit obligation		Defined benefit obligation, net
2024	2023	2024	2023	2024	2023
$ millions	$ millions	$ millions	$ millions	$ millions	$ millions

Balance as of January 1	453	432	(653)	(664)	(200)	(232)
Income (costs) included in profit or loss:
Current service costs	-	-	(13)	(15)	(13)	(15)
Interest income (expenses)	21	20	(31)	(31)	(10)	(11)
Past service cost	-	-	1	(1)	1	(1)
Effect of movements in exchange rates, net	(1)	(6)	2	10	1	4
Included in other comprehensive income:
Actuarial profits (losses) deriving from changes in financial assumptions	-	-	38	24	38	24
Other actuarial gains	(5)	8	-	-	(5)	8
Change with respect to translation differences, net	(6)	12	11	(15)	5	(3)
Other movements:
Benefits received (paid)	(24)	(19)	40	39	16	20
Employer contribution	6	6	-	-	6	6
Balance as of December 31	444	453	(605)	(653)	(161)	(200)

(*) The actual return on plan assets in 2024 is $16 million, compared with $28 million in 2023.

Schedule of actuarial assumptions

For the year ended December 31
2024	2023	2022
%	%	%

Discount rate as of December 31	5.2	4.9	4.7
Future salary increases	3.6	3.6	3.9
Future pension increase	2.5	2.6	2.8

Schedule of sensitivity analysis

December 2024
Decrease 10%	Decrease 5%	Increase 5%	Increase 10%
$ millions

Significant actuarial assumptions
Salary increases	(7)	(3)	3	7
Discount rate	26	13	(13)	(26)
Mortality table	12	6	(6)	(12)

Provisions (Tables)

12 Months Ended

Dec. 31, 2024

Disclosure Of Provision [Abstract]

Schedule of provisions

	Site restoration and equipment dismantling ⁽¹⁾	Legal claims	Other	Total
	$ millions

Balance as of January 1, 2024	224	45	40	309
Provisions recorded during the year	54	1	5	60
Provisions reversed during the year	-	(1)	(5)	(6)
Payments during the year	(29)	(30)	(1)	(60)
Translation differences	(5)	(2)	(3)	(10)
Balance as of December 31, 2024	244	13	36	293

(1)

Main items under 'Site restoration and equipment dismantling':

Equity (Tables)

12 Months Ended

Dec. 31, 2024

Equity [abstract]

Schedule of composition of equity

A.

Composition:

	As of December 31, 2024		As of December 31, 2023
	Authorized	Issued and paid	Authorized	Issued and paid

Number of ordinary shares of Israeli Shekel 1 par value (in millions)	1,485	1,315	1,485	1,314

Number of Special State shares of Israeli Shekel 1 par value	1	1	1	1

(*) For information regarding the amount of treasury shares, see Note 19.G.

Schedule of reconciliation of the number of shares outstanding

Number of Outstanding Shares (in millions)

As of January 1, 2023	1,314
Issuance of shares	-
As of December 31, 2023	1,314
Issuance of shares	1
As of December 31, 2024	1,315

Schedule of share-based payments to employees, non-marketable options

1.

Non-marketable options

Grant date	Employees entitled	Number of instruments (thousands)	Issuance's details	Instrument terms	Vesting conditions	Expiration date
June 30, 2016	Officers and senior employees	3,035	An issuance of non-marketable and non-transferrable options, for no consideration, under the 2014 Equity Compensation Plan, as amended in June 2016 (hereinafter – the amended 2014 Equity Compensation Plan).	Upon exercise, each option may be converted into one ordinary share of NIS 1 par value of the Company.	3 equal tranches: (1) one third at the end of 12 months after the grant date (2) one third at the end of 24 months after the grant date (3) one third at the end of 36 months after the grant date	June 30, 2023
September 5, 2016	Former chairman of BOD	186				June 30, 2023
February 14, 2017	Former CEO	114				February 14, 2024
June 20, 2017	Officers and senior employees	6,868				June 20, 2024
August 2, 2017	Former chairman of BOD	165				June 20, 2024
March 6, 2018	Officers and senior employees	5,554				March 6, 2025
May 14, 2018	CEO	385				May 14, 2025
August 20, 2018	Former chairman of BOD	403				August 20, 2025
April 15, 2019	Officers and senior manager	13,242			2 equal tranches: (1) half at the end of 24 months after the grant date. (2) half at the end of 36 months after the grant date.	5 years after the grant date
June 27, 2019	CEO	3,512
May 29, 2019 *	Chairman of BOD	2,169
June 30, 2021	Senior employees	647
February 8, 2022	Senior employees	9,294			3 equal tranches: (1) one third at the end of 12 months after the grant date (2) one third at the end of 24 months after the grant date (3) one third at the end of 36 months after the grant date
March 30, 2022	CEO	1,941
March 30, 2022	Chairman of BOD	1,055
February 14, 2023	Senior managers	461
April 4, 2024	Officers and senior managers	12,333

*

The options were issued upon Mr. Doppelt's entry into office on July 1, 2019.

Schedule of share-based payments to employees, non-marketable options, grants parameters

	2014 Plan
	Granted 2016	Granted 2017	Granted 2018	Granted 2019	Granted 2021	Granted 2022	Granted 2023	Granted 2024

Share price (in $)	3.9	4.5	4.4	5.4	6.8	10.0	7.7	5.1
CPI-linked exercise price (in $)	4.3	4.3	4.3	5.3	7.1	10.1	7.6	5.1
Expected volatility:
First tranche	30.51%	31.88%	28.86%	27.85%	31.70%	31.80%	35.84%	32.20%
Second tranche	30.51%	31.88%	28.86%	27.85%	31.70%	30.88%	34.15%	32.26%
Third tranche	30.51%	31.88%	28.86%	-	-	30.52%	33.77%	32.62%
Expected life of options (in years):
First tranche	7.0	7.0	7.0	4.4	4.4	3.2	3.1	3.1
Second tranche	7.0	7.0	7.0	4.4	4.4	3.8	3.7	3.7
Third tranche	7.0	7.0	7.0	-	-	4.0	3.9	3.9
Risk-free interest rate:
First tranche	0.01%	0.37%	0.03%	(0.67)%	0.43%	(1.46)%	1.49%	2.09%
Second tranche	0.01%	0.37%	0.03%	(0.67)%	0.43%	(1.29)%	1.43%	2.17%
Third tranche	0.01%	0.37%	0.03%	-	-	(1.21)%	1.43%	2.17%
Fair value (in $ millions)	4.0	11.3	8.8	7.5	0.6	24.9	0.9	15.4
Weighted average grant date fair value per option (in $)	1.1	1.6	1.4	1.2	1.3	2.0	2.0	1.3

Schedule of share-based payments to employees, non-marketable options, movement in the options

	Number of options (in millions)

Balance as of January 1, 2023	15
Movement in 2023:
Exercised during the year	(1)
Total options outstanding as of December 31, 2023	14
Movement in 2024:
Granted during the year	12
Exercised during the year	(3)
Total options outstanding as of December 31, 2024	23

Schedule of share-based payments to employees, non-marketable options, exercise price

December 31, 2024

December 31, 2023

December 31, 2022

Granted in 2016	-	-	3.41
Granted in 2017	-	2.79	3.14
Granted in 2018	2.77	2.70	3.06
Granted in 2019	-	4.27	4.57
Granted in 2021	5.60	5.64	6.00
Granted in 2022	8.60	8.56	8.91
Granted in 2023	7.23	7.23	-
Granted in 2024	5.17	-	-

Schedule of share-based payments to employees, non-marketable options, number of options vested

December 31, 2024

December 31, 2023

December 31, 2022

Number of options exercisable (in Millions)	8	7	5
Weighted average exercise price in Israeli Shekel	30.36	22.57	15.67
Weighted average exercise price in US Dollar	8.33	6.22	4.45

(*) The share price as of December 31, 2024, is NIS 18.00 and $4.94.

Schedule of share-based payments to employees, non-marketable options, range of exercise prices

December 31, 2024

December 31, 2023

December 31, 2022

Range of exercise price in Israeli Shekel	10.12-31.38	9.46-34.30	10.77-30.06
Range of exercise price in US Dollar	2.77-8.60	2.70-9.81	3.06-8.54

Schedule of share-based payments to employees, non-marketable options, average remaining contractual life

December 31, 2024

December 31, 2023

December 31, 2022

Average remaining contractual life

3.24

2.59

3.42

Schedule of dividends distributed to the company's shareholders

D.

Dividends distributed to the Company's Shareholders

Date of dividend distribution by the Board of Directors

Actual date of dividend distribution

Gross dividend distributed

($ millions)

Dividend per share

(in $)

February 8, 2022	March 8, 2022	169	0.13
May 10, 2022	June 15, 2022	307	0.24
July 26, 2022	September 14, 2022	376	0.29
November 8, 2022	December 14, 2022	314	0.24
Total 2022		1,166	0.90
February 14, 2023	March 15, 2023	178	0.14
May 9, 2023	June 14, 2023	146	0.11
August 8, 2023	September 13, 2023	82	0.06
November 7, 2023	December 20, 2023	68	0.05
Total 2023		474	0.36
February 26, 2024	March 26, 2024	61	0.05
May 8, 2024	June 20, 2024	59	0.05
August 12, 2024	September 18, 2024	63	0.05
November 10, 2024	December 18, 2024	68	0.05
Total 2024		251	0.20
February 25, 2025*	March 25, 2025	52	0.04

(*) The record date is March 12, 2025, and the payment date is March 25, 2025.

Details of Income Statement Items (Tables)

12 Months Ended

Dec. 31, 2024

Details Of Income Statement [Abstract]

Schedule of cost of sales

For the year ended December 31
2024	2023	2022
$ millions	$ millions	$ millions

Sales	6,841	7,536	10,015
Cost of sales
Materials consumed	2,341	2,547	3,152
Cost of labor	906	875	937
Energy and fuel	356	402	433
Depreciation and amortization	506	450	409
Other	476	591	52
	4,585	4,865	4,983

Schedule of expenses

For the year ended December 31
2024	2023	2022
$ millions	$ millions	$ millions

Selling, transport and marketing expenses
Land and Marine transportation	722	714	792
Cost of labor	185	176	188
Other	207	203	201
	1,114	1,093	1,181
General and administrative expenses
Cost of labor	155	147	168
Professional Services	44	43	44
Other	60	70	79
	259	260	291
Research and development expenses
Cost of labor	52	56	55
Other	17	15	13
	69	71	68

Schedule of other income and expenses

For the year ended December 31
2024	2023	2022
$ millions	$ millions	$ millions

Other income
Contingent consideration	3	8	-
Rental Income	3	3	3
Insurance and energy tax refunds	3	2	15
Capital gain and profit from divestment	2	1	31
Employees benefits	2	-	-
Other	8	8	5
Other income recorded in the income statements	21	22	54
Other expenses
Provision for site closure, restoration costs and efficiency plan	24	45	6
Doubtful debts	14	2	1
Financial instrument at fair value	9	65	-
Provision for legal claims	4	1	17
Other	9	15	6
Other expenses recorded in the income statements	60	128	30

Schedule of financing income and expenses

For the year ended December 31
2024	2023	2022
$ millions	$ millions	$ millions

Financing income and expenses
Financing income:
Net gain from changes in exchange rates	-	37	139
Financing income in relation to employee benefits	1	7	44
Interest income from banks and others	40	47	31
Net gain from change in fair value of derivative designated as economic hedge	-	-	-
Net gain from change in fair value of derivative designated as cash flow hedge	-	-	-
	41	91	214
Financing expenses:
Net loss from change in fair value of derivative designated as economic hedge	3	54	98
Net loss from change in fair value of derivative designated as cash flow hedge	10	25	77
Interest expenses to banks and others	153	167	148
Financing expenses in relation to employees' benefits	13	13	7
Banks and finance institutions commissions (mainly commission on early repayment of loans)	5	7	7
Net loss from changes in exchange rates	4	-	-
Financing expenses	188	266	337
Net of borrowing costs capitalized	7	7	10
	181	259	327

Net financing expenses recorded in the income statements	140	168	113

Financial Instruments and Risk Management (Tables)

12 Months Ended

Dec. 31, 2024

Disclosure of detailed information about financial instruments [abstract]

Schedule of groups and measurement bases of financial assets and financial liabilities

As of December 31, 2024
Financial assets		Financial liabilities
Measured at fair value through the statement of income	Measured at amortized cost	Measured at fair value through the statement of income	Measured at amortized cost
$ millions

Current assets
Cash and cash equivalents	-	327	-	-
Short-term investments and deposits	-	115	-	-
Trade receivables	-	1,260	-	-
Other receivables	-	33	-	-
Foreign currency derivative designated as economic hedge	12	-	-	-
Foreign currency and interest derivative instruments designated as cash flow hedge	4	-	-	-
Non-current assets
Foreign currency and interest derivative instruments designated as cash flow hedge	3	-	-	-
Other non-current assets	-	20	-	-
Total financial assets	19	1,755	-	-
Current liabilities
Short term debt	-	-	-	(384)
Trade payables	-	-	-	(1,002)
Other current liabilities	-	-	-	(156)
Foreign currency derivative designated as economic hedge	-	-	(11)	-
Foreign currency and interest derivative instruments designated as cash flow hedge	-	-	(3)	-
Non-current liabilities
Long term debt and debentures	-	-	-	(1,909)
Foreign currency and interest derivative instruments designated as cash flow hedge	-	-	(4)	-
Other non- current liabilities	-	-	-	(41)
Total financial liabilities	-	-	(18)	(3,492)
Total financial instruments, net	19	1,755	(18)	(3,492)

As of December 31, 2023
Financial assets		Financial liabilities
Measured at fair value through the statement of income	Measured at amortized cost	Measured at fair value through the statement of income	Measured at amortized cost
$ millions

Current assets
Cash and cash equivalents	-	420	-	-
Short-term investments and deposits	-	172	-	-
Trade receivables	-	1,376	-	-
Other receivables	-	94	-	-
Foreign currency derivative designated as economic hedge	43	-	-	-
Foreign currency and interest derivative instruments designated as cash flow hedge	10	-	-	-
Non-current assets
Foreign currency and interest derivative instruments designated as cash flow hedge	1	-	-	-
Other non-current assets	-	22	-	-
Total financial assets	54	2,084	-	-
Current liabilities
Short term debt	-	-	-	(858)
Trade payables	-	-	-	(912)
Other current liabilities	-	-	-	(180)
Foreign currency derivative designated as economic hedge	-	-	(4)	-
Foreign currency and interest derivative instruments designated as cash flow hedge	-	-	(3)	-
Non-current liabilities
Long term debt and debentures	-	-	-	(1,829)
Foreign currency and interest derivative instruments designated as cash flow hedge	-	-	(7)	-
Other non- current liabilities	-	-	-	(41)
Total financial liabilities	-	-	(14)	(3,820)
Total financial instruments, net	54	2,084	(14)	(3,820)

Schedule of maximum credit exposure

	As of December 31
	Carrying amount ($ millions)
	2024	2023

Cash and cash equivalents	327	420
Short term investments and deposits	115	172
Trade receivables	1,260	1,376
Other receivables	33	94
Derivatives	19	54
Other non-current assets	20	22
	1,774	2,138

Schedule of maximum credit exposure by geographical region

	As of December 31
	Carrying amount ($ millions)
	2024	2023

South America	390	409
Europe	310	352
Asia	278	313
North America	187	196
Israel	75	80
Other	20	26
	1,260	1,376

Schedule of aging of debts and impairment losses

As of December 31
2024		2023
Gross	Impairment	Gross	Impairment
$ millions	$ millions	$ millions	$ millions

Not past due	1,150	1	1,258	(3)
Past due up to 3 months	79	(1)	102	(1)
Past due 3 to 12 months	35	(5)	27	(7)
Past due over 12 months	22	(21)	2	(2)
	1,286	(26)	1,389	(13)

Schedule of allowance of doubtful accounts

	2024	2023
	$ millions	$ millions

Balance as of January 1	13	8
Additional allowance	16	5
Changes due to translation differences	(3)	-
Balance as of December 31	26	13

Schedule of liquidity risk

As of December 31, 2024
Carrying amount	12 months or less	1-2 years	3-5 years	More than 5 years
$ millions

Non-derivative financial liabilities
Short term debt (not including current maturities)	276	282	-	-	-
Trade payables	1,002	1,002	-	-	-
Other current liabilities	156	156	-	-	-
Long-term debt, debentures and others	2,058	185	546	792	1,276
	3,492	1,625	546	792	1,276
Financial liabilities – derivative instruments
Foreign currency and interest derivative designated as economic hedge	11	11	-	-	-
Foreign currency and interest derivative designated as cash flow hedge	7	3	4	-	-
	18	14	4	-	-

As of December 31, 2023
Carrying amount	12 months or less	1-2 years	3-5 years	More than 5 years
$ millions

Non-derivative financial liabilities
Short term debt (not including current maturities)	283	300	-	-	-
Trade payables	912	912	-	-	-
Other current liabilities	180	180	-	-	-
Long-term debt, debentures and others	2,445	666	599	653	1,339
	3,820	2,058	599	653	1,339
Financial liabilities – derivative instruments
Foreign currency and interest derivative designated as economic hedge	4	4	-	-	-
Foreign currency and interest derivative designated as cash flow hedge	10	3	7	-	-
	14	7	7	-	-

Schedule of interest rate profile

	As of December 31
	2024	2023
	$ millions	$ millions

Fixed rate instruments
Financial assets	387	387
Financial liabilities	(1,508)	(2,017)
	(1,121)	(1,630)
Variable rate instruments
Financial assets	49	49
Financial liabilities	(791)	(682)
	(742)	(633)

Schedule of sensitivity analysis for variable rate instruments

As of December 31, 2024
Impact on profit (loss)
Decrease of 1% in interest	Decrease of 0.5% in interest	Increase of 0.5% in interest	Increase of 1% in interest
$ millions

SWAP instruments
Changes in Israeli Shekel interest	14.8	7.0	(6.8)	(13.3)

Schedule of terms of derivative financial instruments used to hedge interest risk

As of December 31, 2024
Carrying amount (fair value)	Stated amount	Maturity date	Interest rate range
$ millions	$ millions	Years	%

Israeli Shekel
SWAP contracts from fixed ILS interest to fixed USD interest	(3)	206	2025-2034	2.4%

As of December 31, 2023
Carrying amount (fair value)	Stated amount	Maturity date	Interest rate range
$ millions	$ millions	Years	%

Israeli Shekel
SWAP contracts from fixed ILS interest to fixed USD interest	(5)	344	2024-2034	2.4-4.74%

Schedule of sensitivity analysis non-derivative financial instruments

	As of December 31,
	Impact on profit (loss)
	2024	2023
	$ millions	$ millions

Non-derivative financial instruments
US Dollar/Euro	(54)	(82)
US Dollar/Israeli Shekel	73	70
US Dollar/British Pound	(1)	2
US Dollar/Brazilian Real	-	31
US Dollar/Chinese Yuan	-	21

Schedule of market risk sensitivity analysis

As of December 31, 2024
Increase 10%	Increase 5%	Decrease 5%	Decrease 10%
$ millions

US Dollar/Brazilian Real
Forward transactions	1	1	(1)	(2)

US Dollar/Israeli Shekel
Forward transactions	(66)	(34)	40	83
Forward transactions hedge accounting	(31)	(17)	15	33
SWAP	(17)	(9)	10	21

US Dollar/British Pound
Options	(3)	(2)	2	4

Euro/ US Dollar
Forward transactions	18	9	(8)	(15)
Options	4	2	(2)	(3)

Schedule of terms of derivative financial instruments used to economically hedge foreign currency risk

As of December 31, 2024
Carrying amount	Stated amount	Average
$ millions		exchange rate

Forward contracts
US Dollar/Israeli Shekel	(1)	808	3.7
Euro/US Dollar	2	177	1.1
US Dollar/Brazilian Real	-	18	6.0
British Pound/Euro	-	115	1.2
British Pound/US Dollar	-	8	1.2
Euro/Chinese Yuan Renminbi	-	14	7.7
Other	-	12	-
Forward contracts hedge accounting
US Dollar/Israeli Shekel	2	320	3.7
Currency and interest SWAPs
US Dollar/Israeli Shekel	(3)	206	3.7
Put options
US Dollar/Israeli Shekel	-	-	3.7
Euro/US Dollar	1	40	1.1
US Dollar/Japanese Yen	-	5	152.0
British Pound/US Dollar	-	12	1.2
Call options
US Dollar/Israeli Shekel	-	-	3.7
Euro/US Dollar	-	40	1.1
US Dollar/Japanese Yen	-	5	152.0
British Pound/US Dollar	-	12	1.2

As of December 31, 2023
Carrying amount	Stated amount	Average exchange rate
$ millions

Forward contracts
US Dollar/Israeli Shekel	35	735	3.7
Euro/US Dollar	5	12	1.1
US Dollar/Brazilian Real	-	14	5.0
British Pound/US Dollar	-	8	1.2
Euro/Chinese Yuan Renminbi	(1)	82	7.7
Other	-	54	293.9
Forward contracts hedge accounting
US Dollar/Israeli Shekel	6	345	3.7
Currency and interest SWAPs
US Dollar/Israeli Shekel	(5)	344	3.7
Put options
US Dollar/Israeli Shekel	-	-	3.7
Euro/US Dollar	-	45	1.1
US Dollar/Japanese Yen	-	5	140.7
British Pound/US Dollar	-	12	1.2
Call options
US Dollar/Israeli Shekel	-	-	3.7
Euro/US Dollar	-	45	1.1
US Dollar/Japanese Yen	-	5	140.7
British Pound/US Dollar	-	12	1.2

Schedule of linkage terms of monetary balances

	As of December 31, 2024
	US Dollar	Euro	British Pound	Israeli Shekel	Brazilian Real	Chinese Yuan Renminbi	Other	Total

Non-derivative instruments:
Cash and cash equivalents	55	20	9	2	69	151	21	327
Short term investments and deposits	108	1	-	-	-	6	-	115
Trade receivables	545	224	39	37	297	81	37	1,260
Other receivables	-	18	2	4	5	-	4	33
Other non-current assets	9	5	-	1	5	-	-	20
Total financial assets	717	268	50	44	376	238	62	1,755
Short-term debt	163	148	12	50	6	3	2	384
Trade payables	196	201	24	408	103	61	9	1,002
Other current liabilities	43	52	6	32	13	9	1	156
Long term debt, debentures and others	802	784	8	275	13	24	3	1,909
Other non-current liabilities	7	33	-	-	-	-	1	41
Total financial liabilities	1,211	1,218	50	765	135	97	16	3,492
Total non-derivative financial instruments, net	(494)	(950)	-	(721)	241	141	46	(1,737)
Derivative instruments:
Forward transactions	-	177	8	808	18	-	141	1,152
Forward transactions hedge accounting	-	-	-	320	-	-	-	320
Cylinder	-	40	12	-	-	-	5	57
SWAPS – US dollar into Israeli shekel	-	-	-	206	-	-	-	206
Total derivative instruments	-	217	20	1,334	18	-	146	1,735
Net exposure	(494)	(733)	20	613	259	141	192	(2)

	As of December 31, 2023
	US Dollar	Euro	British Pound	Israeli Shekel	Brazilian Real	Chinese Yuan Renminbi	Others	Total

Non-derivative instruments:
Cash and cash equivalents	78	10	15	2	65	230	20	420
Short term investments and deposits	163	1	-	-	-	5	3	172
Trade receivables	523	261	58	66	355	78	35	1,376
Other receivables	50	22	1	14	1	1	5	94
Other non-current assets	10	4	-	1	7	-	-	22
Total financial assets	824	298	74	83	428	314	63	2,084
Short-term debt	483	143	24	199	6	3	-	858
Trade payables	194	225	33	308	91	57	4	912
Other current liabilities	42	82	3	27	14	11	1	180
Long term debt, debentures and others	808	689	12	269	19	28	4	1,829
Other non-current liabilities	1	39	-	-	1	-	-	41
Total financial liabilities	1,528	1,178	72	803	131	99	9	3,820
Total non-derivative financial instruments, net	(704)	(880)	2	(720)	297	215	54	(1,736)
Derivative instruments:
Forward transactions	-	12	8	735	14	-	136	905
Forward transactions hedge accounting	-	-	-	345	-	-	-	345
Cylinder	-	45	12	-	-	-	5	62
SWAPS – US dollar into Israeli shekel	-	-	-	344	-	-	-	344
Total derivative instruments	-	57	20	1,424	14	-	141	1,656
Net exposure	(704)	(823)	22	704	311	215	195	(80)

Schedule of fair value of financial instruments

As of December 31, 2024		As of December 31, 2023
Carrying amount	Fair value	Carrying amount	Fair value
$ millions		$ millions

Loans bearing fixed interest (1)	287	271	337	306
Debentures bearing fixed interest
Marketable (2)	909	845	1,208	1,118
Non-marketable (3)	47	47	196	194
	1,243	1,163	1,741	1,618

Schedule of hierarchy of fair value

Level 2	As of December 31, 2024	As of December 31, 2023
Level 2	$ millions	$ millions

Derivatives designated as economic hedge, net	1	39
Derivatives designated as cash flow hedge, net	-	1
	1	40

Earnings per Share (Tables)

12 Months Ended

Dec. 31, 2024

Notes to Consolidated Financial Statements [Abstract]

Schedule of basic earnings per share

For the year ended December 31
2024	2023	2022
$ millions	$ millions	$ millions

Earnings attributed to the shareholders of the Company

407

647

2,159

Schedule of weighted average number of ordinary shares

For the year ended December 31
2024	2023	2022
Shares thousands	Shares thousands	Shares thousands

Balance as of January 1	1,289,436	1,289,179	1,285,585
Shares issued during the year	532	182	1,719
Weighted average number of ordinary shares used in computation of the basic earnings per share	1,289,968	1,289,361	1,287,304

Schedule of weighted average number of ordinary shares diluted

For the year ended December 31
2024	2023	2022
Shares thousands	Shares thousands	Shares thousands

Weighted average number of ordinary shares used in the computation of the basic earnings per share	1,289,968	1,289,361	1,287,304
Effect of stock options*	71	1,307	2,643
Weighted average number of ordinary shares used in the computation of the diluted earnings per share	1,290,039	1,290,668	1,289,947

* As of December 31, 2024, 2023 and 2022, number of 23.5 million, 11 million and 7.6 million options, respectively, were not included since they did not have a diluting effect.

Related and Interested Parties (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of benefits to key management personnel

	For the year ended December 31
	2024	2023
	$ millions	$ millions

Short-term benefits	12	9
Post-employment benefits	1	1
Share-based payments	9	7
Total *	22	17
* To interested parties employed by the Company	5	5
* To interested parties not employed by the Company	1	1

Schedule of transactions with related and interested parties

For the year ended December 31
2024	2023	2022
$ millions	$ millions	$ millions

Sales	-	1	7
Cost of sales	1	1	13
Selling, transport and marketing expenses	9	6	15
Financing income, net	(2)	(1)	-
General and administrative expenses	1	1	1
Management fees to the parent company	-	-	1

Schedule of balances with interested parties

	As of December 31
	2024	2023
	$ millions	$ millions

Other current assets	41	19

Other current liabilities (*)	1	1

* The balance included transactions with the Company Zim Integrated Shipping Ltd. which is not an interested party from the end of December 2024.

Group Main Entities (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of composition of group

		Ownership interest in its subsidiary and investee companies for the year ended December 31
Name of company	Principal location of the company’s activity	2024	2023
ICL Israel Ltd.	Israel	100.00%	100.00%
Dead Sea Works Ltd.	Israel	100.00%	100.00%
Dead Sea Bromine Company Ltd.	Israel	100.00%	100.00%
Rotem Amfert Negev Ltd.	Israel	100.00%	100.00%
Mifalei Tovala Ltd.	Israel	100.00%	100.00%
Dead Sea Magnesium Ltd.	Israel	100.00%	100.00%
Bromine Compounds Ltd.	Israel	100.00%	100.00%
Fertilizers and Chemicals Ltd.	Israel	100.00%	100.00%
Iberpotash S.A.	Spain	100.00%	100.00%
Fuentes Fertilizantes S.L.	Spain	100.00%	100.00%
ICL Europe Coöperatief U.A.	The Netherlands	100.00%	100.00%
ICL Europe B.V.	The Netherlands	100.00%	100.00%
ICL IP Terneuzen B.V	The Netherlands	100.00%	100.00%
ICL Finance BV	The Netherlands	100.00%	100.00%
Everris International B.V.	The Netherlands	100.00%	100.00%
ICL Puriphos B.V.	The Netherlands	100.00%	100.00%
ICL-IP America Inc	United States of America	100.00%	100.00%
ICL Specialty Products Inc	United States of America	100.00%	100.00%
Everris NA, Inc.	United States of America	100.00%	100.00%
Growers Holdings, Inc.	United States of America	100.00%	100.00%
BK Giulini GmbH	Germany	100.00%	100.00%
ICL Holding Germany GmbH	Germany	100.00%	100.00%
ICL Bitterfeld GmbH	Germany	100.00%	100.00%
Prolactal GmbH	Austria	100.00%	100.00%
Cleveland Potash Ltd.	United Kingdom	100.00%	100.00%
Everris Ltd.	United Kingdom	100.00%	100.00%
ICL America do Sul	Brazil	100.00%	100.00%
ICL Aditivos E Ingredientes LTDA	Brazil	100.00%	100.00%
ICL Investment Co. Ltd.	China	100.00%	100.00%
Yunnan Phosphate Haikou Co. Ltd.	China	50.00%	50.00%
ICL Asia Ltd	Hong Kong	100.00%	100.00%
ICL Trading (HK) Ltd.	Hong Kong	100.00%	100.00%
Scora S.A.S., France	France	100.00%	100.00%

Material Accounting Policies (Schedule of Estimated Useful LIves of Property, Plant and Equipment) (Details)

12 Months Ended

Dec. 31, 2024

Buildings [Member] | Minimum [Member]

Disclosure of detailed information about property, plant and equipment [line items]

Buildings [Member] | Maximum [Member]

15 years

Disclosure of detailed information about property, plant and equipment [line items]

Technical equipment and machinery [Member] | Minimum [Member]

30 years

Disclosure of detailed information about property, plant and equipment [line items]

Technical equipment and machinery [Member] | Maximum [Member]

5 years

^[1]

Disclosure of detailed information about property, plant and equipment [line items]

Dikes And Evaporating Ponds [Member] | Minimum [Member]

35 years

^[1]

Disclosure of detailed information about property, plant and equipment [line items]

Dikes And Evaporating Ponds [Member] | Maximum [Member]

20 years

^[2]

Disclosure of detailed information about property, plant and equipment [line items]

Other [Member] | Minimum [Member]

43 years

^[2]

Disclosure of detailed information about property, plant and equipment [line items]

Other [Member] | Maximum [Member]

3 years

Disclosure of detailed information about property, plant and equipment [line items]

10 years

[1]	Mainly 35 years
[2]	Mainly 43 years

Material Accounting Policies (Schedule of Estimated Useful LIves of Intangible Assets) (Details)	12 Months Ended
	Dec. 31, 2024
Trademarks [Member] \| Minimum [Member]
Intangible assets [Line Items]
Estimated Useful Life Amortization in Years	15 years
Trademarks [Member] \| Maximum [Member]
Intangible assets [Line Items]
Estimated Useful Life Amortization in Years	20 years
Technology / patents [Member] \| Minimum [Member]
Intangible assets [Line Items]
Estimated Useful Life Amortization in Years	7 years
Technology / patents [Member] \| Maximum [Member]
Intangible assets [Line Items]
Estimated Useful Life Amortization in Years	20 years
Customer relationships [Member] \| Minimum [Member]
Intangible assets [Line Items]
Estimated Useful Life Amortization in Years	15 years
Customer relationships [Member] \| Maximum [Member]
Intangible assets [Line Items]
Estimated Useful Life Amortization in Years	25 years
Computer applications [Member] \| Minimum [Member]
Intangible assets [Line Items]
Estimated Useful Life Amortization in Years	3 years
Computer applications [Member] \| Maximum [Member]
Intangible assets [Line Items]
Estimated Useful Life Amortization in Years	10 years

Operating Segments (Operating Segment Data) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Sales [Abstract]
Sales to external parties	$ 6,841	$ 7,536	$ 10,015
Inter-segment sales	0	0	0
Total sales	6,841	7,536	10,015
Cost of sales	4,585	4,865	4,983
Operating income (loss) [Abstract]
Segment operating income (loss)	873	1,218	3,509
Other income not allocated to the segments	(98)	(77)	7
Operating income	775	1,141	3,516
Financing expenses, net	(140)	(168)	(113)
Share in earnings of equity-accounted investees	1	1	1
Income before income taxes	636	974	3,404
Depreciation and amortization	610	536	498
Capital expenditures	902	873	822
Capex As Part Of Business Combination	92
Industrial Products [Member]
Sales [Abstract]
Sales to external parties	1,220	1,206	1,737
Inter-segment sales	19	21	29
Total sales	1,239	1,227	1,766
Cost of sales	821	815	890
Operating income (loss) [Abstract]
Segment operating income (loss)	224	220	628
Depreciation and amortization	57	57	61
Capital expenditures	94	91	90
Capex As Part Of Business Combination	0
Potash [Member]
Sales [Abstract]
Sales to external parties	1,462	1,973	3,031
Inter-segment sales	194	209	282
Total sales	1,656	2,182	3,313
Cost of sales	1,006	1,011	1,020
Operating income (loss) [Abstract]
Segment operating income (loss)	250	668	1,822
Depreciation and amortization	242	175	166
Capital expenditures	332	384	346
Capex As Part Of Business Combination	0
Phosphate Solutions [Member]
Sales [Abstract]
Sales to external parties	2,049	2,141	2,676
Inter-segment sales	166	209	255
Total sales	2,215	2,350	2,931
Cost of sales	1,515	1,658	1,795
Operating income (loss) [Abstract]
Segment operating income (loss)	358	350	785
Depreciation and amortization	191	207	179
Capital expenditures	340	270	254
Capex As Part Of Business Combination	0
Growing Solutions [Member]
Sales [Abstract]
Sales to external parties	1,932	2,047	2,376
Inter-segment sales	18	26	46
Total sales	1,950	2,073	2,422
Cost of sales	1,426	1,641	1,648
Operating income (loss) [Abstract]
Segment operating income (loss)	128	51	378
Depreciation and amortization	74	68	70
Capital expenditures	98	92	101
Capex As Part Of Business Combination	92
Other Activities [Member]
Sales [Abstract]
Sales to external parties	178	169	195
Inter-segment sales	3	3	3
Total sales	181	172	198
Cost of sales	175	(178)	(191)
Operating income (loss) [Abstract]
Segment operating income (loss)	(22)	(34)	(17)
Depreciation and amortization	15	17	13
Capital expenditures	8	13	14
Capex As Part Of Business Combination	0
Reconciliation [Member]
Sales [Abstract]
Sales to external parties	0	0	0
Inter-segment sales	(400)	(468)	(615)
Total sales	(400)	(468)	(615)
Cost of sales	(358)	(438)	(561)
Operating income (loss) [Abstract]
Segment operating income (loss)	(65)	(37)	(87)
Depreciation and amortization	31	12	9
Capital expenditures	30	$ 23	$ 17
Capex As Part Of Business Combination	$ 0

Operating Segments (Sales by Geographical Location of the Customer) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disclosure of geographical areas [Line Items]
Sales	$ 6,841	$ 7,536	$ 10,015
% of sales	100.00%	100.00%	100.00%
Brazil [Member]
Disclosure of geographical areas [Line Items]
Sales	$ 1,228	$ 1,530	$ 2,200
% of sales	18.00%	20.00%	22.00%
USA [Member]
Disclosure of geographical areas [Line Items]
Sales	$ 1,176	$ 1,262	$ 1,457
% of sales	17.00%	17.00%	15.00%
China [Member]
Disclosure of geographical areas [Line Items]
Sales	$ 1,068	$ 1,059	$ 1,495
% of sales	16.00%	14.00%	15.00%
United Kingdom [Member]
Disclosure of geographical areas [Line Items]
Sales	$ 317	$ 428	$ 448
% of sales	5.00%	6.00%	4.00%
Germany [Member]
Disclosure of geographical areas [Line Items]
Sales	$ 315	$ 340	$ 417
% of sales	5.00%	5.00%	4.00%
Spain [Member]
Disclosure of geographical areas [Line Items]
Sales	$ 301	$ 348	$ 365
% of sales	4.00%	5.00%	4.00%
Israel [Member]
Disclosure of geographical areas [Line Items]
Sales	$ 285	$ 274	$ 344
% of sales	4.00%	4.00%	3.00%
France [Member]
Disclosure of geographical areas [Line Items]
Sales	$ 256	$ 254	$ 305
% of sales	4.00%	3.00%	3.00%
India [Member]
Disclosure of geographical areas [Line Items]
Sales	$ 197	$ 196	$ 505
% of sales	3.00%	3.00%	5.00%
Netherlands [Member]
Disclosure of geographical areas [Line Items]
Sales	$ 149	$ 171	$ 264
% of sales	2.00%	2.00%	3.00%
Other Country Member
Disclosure of geographical areas [Line Items]
Sales	$ 1,549	$ 1,674	$ 2,215
% of sales	22.00%	21.00%	22.00%

Operating Segments (Sales by geographical location of the customer by Operating Segments) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disclosure of geographical areas [Line Items]
Sales	$ 6,841	$ 7,536	$ 10,015
Europe Region [Member]
Disclosure of geographical areas [Line Items]
Sales	2,123	2,332	2,809
Asia Region [Member]
Disclosure of geographical areas [Line Items]
Sales	1,664	1,744	2,743
South America [Member]
Disclosure of geographical areas [Line Items]
Sales	1,353	1,665	2,315
North America Region Member
Disclosure of geographical areas [Line Items]
Sales	1,267	1,351	1,577
Rest of the world [Member]
Disclosure of geographical areas [Line Items]
Sales	434	444	571
Industrial Products [Member]
Disclosure of geographical areas [Line Items]
Sales	1,239	1,227	1,766
Industrial Products [Member] \| Europe Region [Member]
Disclosure of geographical areas [Line Items]
Sales	391	432	574
Industrial Products [Member] \| Asia Region [Member]
Disclosure of geographical areas [Line Items]
Sales	438	361	664
Industrial Products [Member] \| South America [Member]
Disclosure of geographical areas [Line Items]
Sales	21	25	40
Industrial Products [Member] \| North America Region Member
Disclosure of geographical areas [Line Items]
Sales	329	349	401
Industrial Products [Member] \| Rest of the world [Member]
Disclosure of geographical areas [Line Items]
Sales	60	60	87
Potash [Member]
Disclosure of geographical areas [Line Items]
Sales	1,656	2,182	3,313
Potash [Member] \| Europe Region [Member]
Disclosure of geographical areas [Line Items]
Sales	478	624	698
Potash [Member] \| Asia Region [Member]
Disclosure of geographical areas [Line Items]
Sales	352	539	1,008
Potash [Member] \| South America [Member]
Disclosure of geographical areas [Line Items]
Sales	402	524	938
Potash [Member] \| North America Region Member
Disclosure of geographical areas [Line Items]
Sales	202	260	365
Potash [Member] \| Rest of the world [Member]
Disclosure of geographical areas [Line Items]
Sales	222	235	304
Phosphate Solutions [Member]
Disclosure of geographical areas [Line Items]
Sales	2,215	2,350	2,931
Phosphate Solutions [Member] \| Europe Region [Member]
Disclosure of geographical areas [Line Items]
Sales	542	613	755
Phosphate Solutions [Member] \| Asia Region [Member]
Disclosure of geographical areas [Line Items]
Sales	613	587	781
Phosphate Solutions [Member] \| South America [Member]
Disclosure of geographical areas [Line Items]
Sales	307	368	496
Phosphate Solutions [Member] \| North America Region Member
Disclosure of geographical areas [Line Items]
Sales	567	614	654
Phosphate Solutions [Member] \| Rest of the world [Member]
Disclosure of geographical areas [Line Items]
Sales	186	168	245
Growing Solutions [Member]
Disclosure of geographical areas [Line Items]
Sales	1,950	2,073	2,422
Growing Solutions [Member] \| Europe Region [Member]
Disclosure of geographical areas [Line Items]
Sales	731	746	880
Growing Solutions [Member] \| Asia Region [Member]
Disclosure of geographical areas [Line Items]
Sales	249	257	286
Growing Solutions [Member] \| South America [Member]
Disclosure of geographical areas [Line Items]
Sales	627	753	849
Growing Solutions [Member] \| North America Region Member
Disclosure of geographical areas [Line Items]
Sales	170	138	166
Growing Solutions [Member] \| Rest of the world [Member]
Disclosure of geographical areas [Line Items]
Sales	173	179	241
Other activities [Member]
Disclosure of geographical areas [Line Items]
Sales	181	172	198
Other activities [Member] \| Europe Region [Member]
Disclosure of geographical areas [Line Items]
Sales	128	126	144
Other activities [Member] \| Asia Region [Member]
Disclosure of geographical areas [Line Items]
Sales	31	30	36
Other activities [Member] \| South America [Member]
Disclosure of geographical areas [Line Items]
Sales	0	0	0
Other activities [Member] \| North America Region Member
Disclosure of geographical areas [Line Items]
Sales	3	2	1
Other activities [Member] \| Rest of the world [Member]
Disclosure of geographical areas [Line Items]
Sales	19	14	17
Reconciliation [Member]
Disclosure of geographical areas [Line Items]
Sales	(400)	(468)	(615)
Reconciliation [Member] \| Europe Region [Member]
Disclosure of geographical areas [Line Items]
Sales	(147)	(209)	(242)
Reconciliation [Member] \| Asia Region [Member]
Disclosure of geographical areas [Line Items]
Sales	(19)	(30)	(32)
Reconciliation [Member] \| South America [Member]
Disclosure of geographical areas [Line Items]
Sales	(4)	(5)	(8)
Reconciliation [Member] \| North America Region Member
Disclosure of geographical areas [Line Items]
Sales	(4)	(12)	(10)
Reconciliation [Member] \| Rest of the world [Member]
Disclosure of geographical areas [Line Items]
Sales	$ (226)	$ (212)	$ (323)

Operating Segments (Sales by Geographical Location of the Assets) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disclosure of geographical areas [Line Items]
Sales	$ 6,841	$ 7,536	$ 10,015
Assets [Member]
Disclosure of geographical areas [Line Items]
Sales	8,556	9,526	13,188
Israel [Member] \| Assets [Member]
Disclosure of geographical areas [Line Items]
Sales	3,118	3,595	5,611
Europe [Member]
Disclosure of geographical areas [Line Items]
Sales	2,123	2,332	2,809
Europe [Member] \| Assets [Member]
Disclosure of geographical areas [Line Items]
Sales	2,368	2,610	3,361
Asia Region [Member]
Disclosure of geographical areas [Line Items]
Sales	1,664	1,744	2,743
Asia Region [Member] \| Assets [Member]
Disclosure of geographical areas [Line Items]
Sales	802	788	1,123
South America [Member]
Disclosure of geographical areas [Line Items]
Sales	1,353	1,665	2,315
South America [Member] \| Assets [Member]
Disclosure of geographical areas [Line Items]
Sales	1,213	1,482	1,994
North America Region Member
Disclosure of geographical areas [Line Items]
Sales	1,267	1,351	1,577
North America Region Member \| Assets [Member]
Disclosure of geographical areas [Line Items]
Sales	1,000	999	1,038
Others Region Member
Disclosure of geographical areas [Line Items]
Sales	434	444	571
Others Region Member \| Assets [Member]
Disclosure of geographical areas [Line Items]
Sales	55	52	61
Intercompany sales [Member] \| Assets [Member]
Disclosure of geographical areas [Line Items]
Sales	$ (1,715)	$ (1,990)	$ (3,173)

Operating Segments (Operating Income-Loss by Geographical Location of the Assets) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disclosure of geographical areas [Line Items]
Operating Income	$ 775	$ 1,141	$ 3,516
Israel [Member]
Disclosure of geographical areas [Line Items]
Operating Income	516	857	2,668
Asia Region [Member]
Disclosure of geographical areas [Line Items]
Operating Income	185	130	221
South America [Member]
Disclosure of geographical areas [Line Items]
Operating Income	115	112	184
Europe Region [Member]
Disclosure of geographical areas [Line Items]
Operating Income	(11)	74	445
North America [Member]
Disclosure of geographical areas [Line Items]
Operating Income	(5)	45	131
Other [Member]
Disclosure of geographical areas [Line Items]
Operating Income	7	4	5
Intercompany eliminations [Member]
Disclosure of geographical areas [Line Items]
Operating Income	$ (32)	$ (81)	$ (138)

Operating Segments (Non Current Assets by Geographical Location of the Assets) (Details) - USD ($)
$ in Millions

Dec. 31, 2024

Dec. 31, 2023

^[1]

$ 7,434

$ 7,306

Israel [Member]

^[1]

4,637

4,454

Europe Region [Member]

^[1]

1,518

1,581

North America [Member]

^[1]

450

369

Asia [Member]

^[1]

435

441

South America [Member]

^[1]

389

456

Other [Member]

^[1]

$ 5

[1]	Mainly consist of property, plant and equipment, intangible assets and non-current inventories.

Inventories (Information) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Classes of current inventories [abstract]
Finished products	$ 1,071	$ 1,117
Raw materials	321	329
Work in progress	164	174
Spare parts	147	157
Total inventories	1,703	1,777
Non-current inventories - mainly raw materials (presented as non-current assets)	77	74
Current inventories	$ 1,626	$ 1,703

Prepaid expenses and other receivables (information) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Trade and other receivables [abstract]
Government institutions	$ 110	$ 104
Current tax assets	51	67
Derivative instruments	16	53
Prepaid expenses	41	35
Receivables from equity-accounted investees sale	2	17
Other	38	87
Total other receivables	$ 258	$ 363

Investments in Subsidiaries (Narratives) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Jul. 31, 2024
Disclosure of detailed information about business combination [line items]
Percentage of acquisition of business	25.00%
Total consideration	$ 258
Nobian's Holding [Member]
Disclosure of detailed information about business combination [line items]
Total consideration	$ 30
Custom Ag Formulators [Member]
Disclosure of detailed information about business combination [line items]
Total consideration		$ 60
Performance based earnout		$ 10
YPH, China [Member]
Disclosure of detailed information about business combination [line items]
Percentage of acquisition of business	50.00%

Investments in Subsidiaries (Non-Controlling Interests in Subsidiaries - Balance Sheet) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investments in subsidiaries and investee companies [Line Items]
Current assets	$ 3,586	$ 4,034
Non-current assets	7,735	7,593
Current liabilities	(2,328)	(2,638)
Non-current liabilities	(3,006)	(2,952)
Equity	(5,987)	(6,037)	$ (5,713)	$ (4,736)
Non-controlling interests [Member]
Investments in subsidiaries and investee companies [Line Items]
Current assets	270	278
Non-current assets	365	376
Current liabilities	(96)	(102)
Non-current liabilities	(38)	(43)
Equity	$ (501)	$ (509)

The amount of residual interest in the assets of the entity after deducting all its liabilities.

Investments in Subsidiaries (Non-Controlling Interests in Subsidiaries - Profit and Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Investments in subsidiaries and investee companies [Line Items]
Sales	$ 6,841	$ 7,536	$ 10,015
Operating Income	775	1,141	3,516
Depreciation and amortization	610	536	498
Net Income	464	687	2,219
Total Comprehensive income	248	806	2,130
Non-controlling interests [Member]
Investments in subsidiaries and investee companies [Line Items]
Sales	579	546	723
Operating Income	152	105	146
Depreciation and amortization	37	33	34
Operating income before depreciation and amortization	189	138	180
Net Income	114	85	116
Total Comprehensive income	$ 103	$ 71	$ 78

The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 7
-IssueDate 2024-01-01
-Paragraph 18
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2024-en-r&anchor=para_18_b&doctype=Standard
-URIDate 2024-03-27

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2024-01-01
-Paragraph 32
-Subparagraph a
-Clause ii
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2024-en-r&anchor=para_32_a_ii&doctype=Standard
-URIDate 2024-03-27

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2024-01-01
-Paragraph 24
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2024-en-r&anchor=para_24_b&doctype=Standard
-URIDate 2024-03-27

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2024-01-01
-Paragraph 28
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2024-en-r&anchor=para_28_b&doctype=Standard
-URIDate 2024-03-27

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2024-01-01
-Paragraph 23
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2024-en-r&anchor=para_23&doctype=Standard
-URIDate 2024-03-27

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2024-01-01
-Paragraph B10
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2024-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B
-URIDate 2024-03-27

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 17
-IssueDate 2024-01-01
-Paragraph 113
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=17&code=ifrs-tx-2024-en-r&anchor=para_113_b&doctype=Standard
-URIDate 2024-03-27

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2024-01-01
-Paragraph 81A
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2024-en-r&anchor=para_81A_a&doctype=Standard
-URIDate 2024-03-27

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2024-01-01
-Paragraph 106
-Subparagraph d
-Clause i
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2024-en-r&anchor=para_106_d_i&doctype=Standard
-URIDate 2024-03-27

+ Details

Surplus in employees' defined benefit plans

The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2024-01-01
-Paragraph 28
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2024-en-r&anchor=para_28_a&doctype=Standard
-URIDate 2024-03-27

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2024-01-01
-Paragraph 23
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2024-en-r&anchor=para_23_a&doctype=Standard
-URIDate 2024-03-27

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2024-01-01
-Paragraph 32
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2024-en-r&anchor=para_32&doctype=Standard
-URIDate 2024-03-27

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2024-01-01
-Paragraph 33
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2024-en-r&anchor=para_33_a&doctype=Standard
-URIDate 2024-03-27

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2024-01-01
-Paragraph 34
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2024-en-r&anchor=para_34&doctype=Standard
-URIDate 2024-03-27

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 5
-IssueDate 2024-01-01
-Paragraph 33
-Subparagraph b
-Clause i
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=5&code=ifrs-tx-2024-en-r&anchor=para_33_b_i&doctype=Standard
-URIDate 2024-03-27

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 12
-IssueDate 2024-01-01
-Paragraph B12
-Subparagraph b
-Clause v
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2024-en-r&anchor=para_B12_b_v&doctype=Appendix&subtype=B
-URIDate 2024-03-27

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2024-01-01
-Paragraph B10
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2024-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B
-URIDate 2024-03-27

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2024-01-01
-Paragraph 82
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2024-en-r&anchor=para_82_a&doctype=Standard
-URIDate 2024-03-27

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
-Number 1
-IssueDate 2024-01-01
-Paragraph 103
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2024-en-r&anchor=para_103&doctype=Standard
-URIDate 2024-03-27

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
-Number 1
-IssueDate 2024-01-01
-Paragraph 102
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2024-en-r&anchor=para_102&doctype=Standard
-URIDate 2024-03-27

+ Details

Other non-current assets (Information) (Details) - USD ($)
$ in Millions

Dec. 31, 2024

Dec. 31, 2023

Other Noncurrent Assets [Abstract]

^[1]

$ 134

$ 112

Non-current inventories

77

74

Receivables from equity-accounted investees sale

9

Long term deposits

8

11

Investments in equity-accounted investees

3

2

Derivative designated as a cash flow hedge

3

1

Total other non-current assets

27

30

$ 261

$ 239

[1]	See Note 16.

Property, Plant and Equipment (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)
Facilities In Israel [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful life, property, plant and equipment	the estimated useful lives of the certain assets have been extended by 2‑5 years, effective from January 1, 2023
Depreciation expenses	$ 16
Dikes and evaporating ponds [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation expenses	$ 37

Property, Plant and Equipment (Information) (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2024

Dec. 31, 2023

Disclosure of detailed information about property, plant and equipment [line items]

$ 6,329

6,462

$ 6,329

Disclosure of detailed information about property, plant and equipment [line items]

6,462

6,329

Cost [Member]

13,766

12,980

10

862

838

(147)

(159)

(219)

107

Accumulated depreciation [Member]

14,272

13,766

Disclosure of detailed information about property, plant and equipment [line items]

(7,437)

(7,011)

4

587

494

14

(125)

(121)

(107)

53

Land and buildings [Member]

7,810

(7,437)

Disclosure of detailed information about property, plant and equipment [line items]

Land and buildings [Member] | Cost [Member]

576

596

Disclosure of detailed information about property, plant and equipment [line items]

1,140

1,086

4

49

35

(8)

(4)

(53)

23

Land and buildings [Member] | Accumulated depreciation [Member]

1,132

1,140

Disclosure of detailed information about property, plant and equipment [line items]

(544)

(512)

1

32

27

0

(6)

(1)

(15)

6

Technical equipment and machinery [Member]

556

(544)

Disclosure of detailed information about property, plant and equipment [line items]

Technical equipment and machinery [Member] | Cost [Member]

3,590

3,515

Disclosure of detailed information about property, plant and equipment [line items]

8,280

7,865

5

393

455

(66)

(98)

(108)

58

Technical equipment and machinery [Member] | Accumulated depreciation [Member]

8,504

8,280

Disclosure of detailed information about property, plant and equipment [line items]

(4,765)

4,545

2

256

254

14

(60)

(68)

(63)

34

Dikes and evaporating ponds [Member]

4,914

(4,765)

Disclosure of detailed information about property, plant and equipment [line items]

Dikes and evaporating ponds [Member] | Cost [Member]

1,125

^[1]

1,140

^[2]

Disclosure of detailed information about property, plant and equipment [line items]

^[2]

2,025

^[1]

1,834

^[1]

0

137

^[1]

179

^[2]

(29)

^[1]

0

^[2]

(20)

^[1]

12

^[2]

Dikes and evaporating ponds [Member] | Accumulated depreciation [Member]

^[1]

2,113

2,025

^[2]

Disclosure of detailed information about property, plant and equipment [line items]

^[2]

(885)

^[1]

(829)

^[1]

0

148

^[1]

46

^[2]

^[1]

0

(29)

^[1]

0

^[2]

(16)

^[1]

10

^[2]

Plants under construction [Member]

^[1]

988

(885)

^[2]

Disclosure of detailed information about property, plant and equipment [line items]

Plants under construction [Member] | Cost [Member]

606

^[3]

523

^[4]

Disclosure of detailed information about property, plant and equipment [line items]

^[4]

523

^[3]

518

^[3]

0

98

^[3]

(3)

^[4]

0

^[3]

(2)

^[4]

(15)

^[3]

10

^[4]

Plants under construction [Member] | Accumulated depreciation [Member]

^[3]

606

523

^[4]

Disclosure of detailed information about property, plant and equipment [line items]

^[4]

0

^[3]

0

^[3]

0

0

^[3]

0

^[4]

^[3]

0

0

^[3]

0

^[4]

0

^[3]

0

^[4]

Disclosure of detailed information about property, plant and equipment [line items]

^[3]

0

^[4]

Other [Member]

Other [Member] | Cost [Member]

223

201

Disclosure of detailed information about property, plant and equipment [line items]

1,219

1,144

1

88

78

(3)

(4)

(6)

1

Other [Member] | Accumulated depreciation [Member]

1,299

1,219

Disclosure of detailed information about property, plant and equipment [line items]

(1,018)

(936)

1

65

84

0

(3)

(5)

1

Right of use assets [Member]

1,076

(1,018)

Disclosure of detailed information about property, plant and equipment [line items]

Right of use assets [Member] | Cost [Member]

342

^[5]

354

^[6]

Disclosure of detailed information about property, plant and equipment [line items]

^[6]

579

^[5]

533

^[5]

0

97

^[5]

94

^[6]

(41)

^[5]

(51)

^[6]

(17)

^[5]

3

^[6]

Right of use assets [Member] | Accumulated depreciation [Member]

^[5]

618

579

^[6]

Disclosure of detailed information about property, plant and equipment [line items]

^[6]

(225)

^[5]

(189)

^[5]

0

86

^[5]

83

^[6]

^[5]

0

(27)

^[5]

(49)

^[6]

(8)

^[5]

2

^[6]

^[5]

$ 276

$ (225)

^[6]

[1]	Depreciation expenses allocation in the amount of $37 million on the "Dikes and evaporating ponds" assets.
[2]	The Company conducted a useful life evaluation of Property, Plant and Equipment at its facilities in Israel. As a result, the estimated useful lives of the certain assets have been extended by 2‑5 years, effective from January 1, 2023, and the depreciation expenses has been reduced by $16 million.
[3]	The additions are presented net of items whose construction has been completed and therefore have been reclassified to other categories in “property, plant and equipment”.
[4]	The additions are presented net of items for which construction has been completed and, accordingly, were reclassified to other categories in the “property, plant and equipment” section.
[5]	The total additions were recorded against lease liabilities under IFRS 16.
[6]	The total additions were recorded against lease liabilities (IFRS 16).

Intangible Assets (Composition) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance as of beginning of period	$ 873
Balance as of end of period	869	$ 873
Cost [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance as of beginning of period	1,404	1,333
Additions in respect of business combinations	85
Additions	38	35
Disposals	(4)	(1)
Translation differences	(103)	37
Balance as of end of period	1,420	1,404
Amortization [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance as of beginning of period	(531)	(481)
Amortization for the year	46	42
Retirements	(4)
Translation differences	(22)	8
Balance as of end of period	(551)	(531)
Goodwill [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance as of beginning of period	530
Balance as of end of period	543	530
Goodwill [Member] \| Cost [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance as of beginning of period	549	526
Additions in respect of business combinations	85
Additions	0	0
Disposals	0	0
Translation differences	(73)	23
Balance as of end of period	561	549
Goodwill [Member] \| Amortization [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance as of beginning of period	(19)	(19)
Amortization for the year	0	0
Retirements	0
Translation differences	(1)	0
Balance as of end of period	(18)	(19)
Concessions and mining rights [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance as of beginning of period	120
Balance as of end of period	114	120
Concessions and mining rights [Member] \| Cost [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance as of beginning of period	211	210
Additions in respect of business combinations	0
Additions	5	1
Disposals	0	0
Translation differences	(4)	0
Balance as of end of period	212	211
Concessions and mining rights [Member] \| Amortization [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance as of beginning of period	(91)	(85)
Amortization for the year	7	6
Retirements	0
Translation differences	0	0
Balance as of end of period	(98)	(91)
Trademarks [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance as of beginning of period	49
Balance as of end of period	45	49
Trademarks [Member] \| Cost [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance as of beginning of period	86	84
Additions in respect of business combinations	0
Additions	0	0
Disposals	0	0
Translation differences	(4)	2
Balance as of end of period	82	86
Trademarks [Member] \| Amortization [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance as of beginning of period	(37)	(34)
Amortization for the year	2	2
Retirements	0
Translation differences	(2)	1
Balance as of end of period	(37)	(37)
Technology / patents [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance as of beginning of period	53
Balance as of end of period	46	53
Technology / patents [Member] \| Cost [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance as of beginning of period	119	108
Additions in respect of business combinations	0
Additions	0	8
Disposals	0	0
Translation differences	(5)	3
Balance as of end of period	114	119
Technology / patents [Member] \| Amortization [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance as of beginning of period	(66)	(60)
Amortization for the year	5	5
Retirements	0
Translation differences	(3)	1
Balance as of end of period	(68)	(66)
Customer relationships [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance as of beginning of period	40
Balance as of end of period	24	40
Customer relationships [Member] \| Cost [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance as of beginning of period	200	194
Additions in respect of business combinations	0
Additions	0	0
Disposals	0	0
Translation differences	(14)	6
Balance as of end of period	186	200
Customer relationships [Member] \| Amortization [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance as of beginning of period	(160)	(144)
Amortization for the year	12	12
Retirements	0
Translation differences	(10)	4
Balance as of end of period	(162)	(160)
Computer application [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance as of beginning of period	71
Balance as of end of period	85	71
Computer application [Member] \| Cost [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance as of beginning of period	166	142
Additions in respect of business combinations	0
Additions	31	24
Disposals	(1)	(1)
Translation differences	(2)	1
Balance as of end of period	194	166
Computer application [Member] \| Amortization [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance as of beginning of period	(95)	(82)
Amortization for the year	17	12
Retirements	(1)
Translation differences	(2)	1
Balance as of end of period	(109)	(95)
Other [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance as of beginning of period	10
Balance as of end of period	12	10
Other [Member] \| Cost [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance as of beginning of period	73	69
Additions in respect of business combinations	0
Additions	2	2
Disposals	(3)	0
Translation differences	(1)	2
Balance as of end of period	71	73
Other [Member] \| Amortization [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance as of beginning of period	(63)	(57)
Amortization for the year	3	5
Retirements	(3)
Translation differences	(4)	1
Balance as of end of period	$ (59)	$ (63)

Intangible Assets (Total Book Value of Intangible Assets ) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Intangible assets and goodwill [abstract]
Intangible assets having a defined useful life	$ 294	$ 311
Intangible assets having an indefinite useful life	575	562
Total intangible assets	$ 869	$ 873

Impairment Testing (Narratives) (Details)	Dec. 31, 2024
Impairment Testing [Abstract]
After-tax discount rate used in calculation of recoverable amount of operating segments nominal	9.50%
Long-term growth rate	2.45%

Impairment Testing (Carrying Amounts of Intangible Assets) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Intangible assets having an indefinite useful life [Line Items]
Intangible assets having an indefinite useful life	$ 575	$ 562
Goodwill [Member]
Intangible assets having an indefinite useful life [Line Items]
Intangible assets having an indefinite useful life	543	530
Trademarks [Member]
Intangible assets having an indefinite useful life [Line Items]
Intangible assets having an indefinite useful life	32	32
Phosphate Solutions [Member] \| Goodwill [Member]
Intangible assets having an indefinite useful life [Line Items]
Intangible assets having an indefinite useful life	90	114
Industrial Products [Member] \| Goodwill [Member]
Intangible assets having an indefinite useful life [Line Items]
Intangible assets having an indefinite useful life	89	91
Growing Solutions [Member] \| Goodwill [Member]
Intangible assets having an indefinite useful life [Line Items]
Intangible assets having an indefinite useful life	318	289
Potash [Member] \| Goodwill [Member]
Intangible assets having an indefinite useful life [Line Items]
Intangible assets having an indefinite useful life	18	20
Other [Member] \| Goodwill [Member]
Intangible assets having an indefinite useful life [Line Items]
Intangible assets having an indefinite useful life	$ 28	$ 16

Credit from Banks and Others (Narratives) (Details) ₪ in Millions, $ in Millions	1 Months Ended			12 Months Ended
	Dec. 31, 2024 ILS (₪)	Dec. 31, 2024 USD ($)	Jan. 31, 2024 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Apr. 30, 2023 USD ($)
Borrowings From Banks And Others [Line Items]
Total guarantees the Company provided including to an associated Company		$ 151		$ 151	$ 142
Limit Guarantees And Indemnities To Third Parties Up To Agreed Amount		550		550
Utilization of the securitization facility		$ 176		$ 176	$ 182
Net Debt Ebitda Under Securitization Agreements		4.75		4.75
Percentage of direct and indirect scope of sustainability performance targets				25.00%
Amount of securitization agreements with committed value				$ 300
Amount of securitization agreements with uncommitted value				$ 100
Percentage of voting rights		25.00%		25.00%
Financial covenant				$ 1,412
Group Of International Banks [Member]
Borrowings From Banks And Others [Line Items]
Revolving credit facility						$ 1,550
Debentures Series G [Member] \| Israel, New Shekels \| January/May 2020 [Member]
Borrowings From Banks And Others [Line Items]
Borrowings		$ 193		$ 193
Borrowings, maturity				2022- 2034
Repayments of bonds	₪ 15	4
Debentures (private offering) - 3 series [Member] \| US Dollar [Member] \| January 2014 [Member]
Borrowings From Banks And Others [Line Items]
Borrowings		$ 46		$ 46
Borrowings, maturity				January 2026
Repayments of bonds			$ 145

Credit from Banks and Others (Composition) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Short-term debt
Short-term debt from financial institutions	$ 276	$ 283
Current maturities of:
Debentures	4	441
Long-term loans from financial institutions	26	62
Lease Liability	78	72
Total current maturities of short-term debt	108	575
Total Short-Term debt	384	858
Long- term debt and debentures
Long term lease liability	264	276
Loans from financial institutions	801	734
Total long- term debt and debentures	1,065	1,010
Marketable debentures	906	1,203
Non-marketable debentures	46	191
Total Marketable And Non Marketable Debentures	952	1,394
Total Long Term Debt And Marketable Debentures	2,017	2,404
Less – current maturities of:
Debentures	4	441
Long-term loans from financial institutions	26	62
Lease liability	78	72
Total current maturities of short-term debt	108	575
Long-term debt, debentures and others	$ 1,909	$ 1,829

Credit from Banks and Others (Yearly movement in Credit from Banks and Others) (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2024

Dec. 31, 2023

Dec. 31, 2022

Receipt of long-term debts

Balance as of January 1

^[1]

$ 2,703

$ 2,813

Changes from financing cash flows

889

^[1]

633

^[1]

$ 1,045

Repayment of long-term debt

^[1]

(1,302)

(836)

Repayment of short-term credit

^[1]

(1)

(25)

Interest paid

^[1]

(122)

(125)

Receipt from transaction in derivatives, net

^[1]

(2)

5

Total net financing cash flows

^[1]

(538)

(348)

Initial recognition of lease liability

^[1]

97

94

Interest expenses

^[1]

152

164

Effect of changes in foreign exchange rates

^[1]

(60)

18

Change in fair value of derivatives

^[1]

0

26

Other changes

^[1]

(53)

(64)

Balance as of December 31

^[1]

$ 2,301

$ 2,703

$ 2,813

[1]	The balance includes Short-term debt, loans and debentures, derivatives on loans and debentures, and interest payables.

Credit from Banks and Others (Information on Material Loans and Debentures) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)
Debentures Series F [Member] \| May 2018, December 2020 [Member] \| US Dollar [Member]
Disclosure of material loans and debentures [Line Items]
Original amount	$ 693
Carrying amount	$ 713
Interest rate	6.38%
Principal repayment date	May 2038
Debentures Series G [Member] \| January/May 2020 [Member] \| Israel, New Shekels
Disclosure of material loans and debentures [Line Items]
Original amount	$ 766
Carrying amount	$ 193
Interest rate	2.40%
Principal repayment date	2022- 2034
Debentures (private offering) - 3 series [Member] \| January 2014 [Member] \| US Dollar [Member]
Disclosure of material loans and debentures [Line Items]
Original amount	$ 275
Carrying amount	$ 46
Interest rate	5.31%
Principal repayment date	January 2026
Sustainability linked loan (SLL) [Member] \| September 2021 [Member] \| Euro Member Countries, Euro
Disclosure of material loans and debentures [Line Items]
Original amount	$ 250
Carrying amount	$ 260
Interest rate	0.80%
Principal repayment date	September 2026
Loan European Bank Member \| September 2021 [Member] \| Euro Member Countries, Euro
Disclosure of material loans and debentures [Line Items]
Original amount	$ 25
Carrying amount	$ 26
Interest rate	0.95%
Principal repayment date	June 2025

Credit from Banks and Others (Credit Facilities) (Details) - Group Of International Banks [Member]

12 Months Ended

Dec. 31, 2024

Disclosure of material loans and debentures [Line Items]

Line Of Credit Facility Initiation Date

April 2023

Line Of Credit Facility Expiration Date

April 2029

Line Of Credit Facility Fair Value Of Amounts Outstanding

USD 1,550 million

^[1]

Credit facility has been utilized

Euro 500 million

Interest rate

Up to 33% use of credit: Euribor/ SOFR + 0.69%. From 33% to 66% use of credit: Euribor/ SOFR + 0.89% 66% or more use of credit: Euribor/ SOFR + 1.04%

Loan currency type

USD and Euro loans

Pledges and restrictions

Financial covenants - see Section F, a cross-default mechanism and a negative pledge

^[2]

Non-utilization fee

0.245%

[1]

In April 2023, the Company entered into a Sustainability-Linked Revolving Credit Facility Agreement between ICL Finance B.V., as borrower, and a consortium of twelve international banks for $1,550 million. The Sustainability-Linked RCF replaced a previous revolving credit facility which was due to expire in 2025. In April 2024, all lenders exercised the option to extend the agreement by one year, until April 2029.

[2]

In line with ICL’s strategic commitment to sustainability, the Sustainability-Linked RCF follows ICL’s initial Sustainability-Linked Term Loan dated September 2021. The Sustainability-Linked RCF includes three Key Performance Indicators (KPIs) which have been designed to align with ICL’s sustainability goals: a reduction in Absolute Scope 1 & 2 GHG Emissions; an increase in the percentage of female representation among senior ICL management; and an increase in the number of valid TfS (Together for Sustainability initiative) scorecards obtained for ICL Group suppliers. Each of these goals will be assessed regularly during the term of the Sustainability-Linked RCF through third-party verification of ICL’s performance in these areas.

Credit from Banks and Others (Restrictions on the Group Relating to the Receipt of Credit) (Details)
$ in Millions

Dec. 31, 2024

USD ($)

Dec. 31, 2023

USD ($)

Financial covenants total shareholder's greater than $2,000 million

$ 5,724

^[1],[2]

$ 5,768

Financial Covenant: Ratio of EBITDA to net interest expenses equal to or greater than 3.5

^[1],[2]

14.15

Financial Covenant: Ratio of the net financial debt to EBITDA less than 3.5

^[1],[2]

1.19

Financial Covenant: Ratio of certain subsidiaries loans to the total assets of the consolidated company less than 10%

^[1],[2]

2.64%

[1]	The EBITDA calculation for the financial covenants, which amounted to $1,412 million in 2024, is according to the agreements with the financial institutions.
[2]	The examination of compliance with the financial covenants is based on the Company's consolidated financial statements. As of December 31, 2024, the Company complies with all of its financial covenants.

Other Payables (Narratives) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Trade and other payables [abstract]
Post employment liabilities	$ 19	$ 22

Other Payables (Information) (Details) - USD ($)
$ in Millions

Dec. 31, 2024

Dec. 31, 2023

Trade and other payables [abstract]

Employees

^[1]

$ 353

$ 309

Current tax liabilities

215

170

Accrued expenses

88

91

Governmental (mainly in respect of royalties)

105

88

Income received in advance

21

17

Derivative instruments

13

7

Others

84

101

Other payables

$ 879

$ 783

[1]	Including post-employment liabilities in the amount of $22 million and $26 million as of December 31, 2023 and 2022, respectively. See note 16.

Taxes on Income (Narratives) (Details) ₪ in Millions	12 Months Ended
Taxes on Income (Narratives) (Details) ₪ in Millions	Dec. 31, 2024 ILS (₪)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022
Deferred income taxes [Line Items]
Income tax rate	23.00%	23.00%	23.00%	23.00%
Unreleased trapped earnings amount	₪ 950	$ 260,000,000
Carryforward tax losses of subsidiaries for which deferred taxes recorded		515,000,000	$ 476,000,000
Carryforward tax losses for which deferred taxes were not recorded		263,000,000	206,000,000
Capital losses for which deferred taxes were not recorded		159,000,000	152,000,000
Amount of magnesium charge DSW per tone		$ 100
Percentage of revenue generates from bromine compounds sales	12.00%	12.00%
Percentage of revenue generates from downstream phosphate products sales	12.00%	12.00%
Amount of tax expenses for prior years			$ 188,000,000
Israel [Member] \| Preferred Enterprises Located In Development Area [Member]
Deferred income taxes [Line Items]
Income tax rate	7.50%	7.50%
Israel [Member] \| Preferred Enterprises Located In Rest Of Country [Member]
Deferred income taxes [Line Items]
Income tax rate	16.00%	16.00%

Taxes on Income (Tax rates of subsidiaries outside Israel) (Details)

12 Months Ended

Dec. 31, 2024

Dec. 31, 2023

Dec. 31, 2022

23.00%

Brazil [Member]

34.00%

Germany [Member]

29.00%

United States [Member]

^[1]

26.00%

Netherlands [Member]

25.80%

Spain [Member]

25.00%

China [Member]

25.00%

United Kingdom [Member]

Major components of tax expense (income) [abstract]

^[2]

25.00%

[1]	The tax rate is an estimated average and includes federal and states tax. Different rate may apply in each specific year, as a result of different allocation of income between the different states.
[2]	The tax rate in the UK was increased from 19% to 25% since April 1, 2023.

Taxes on Income (Deferred income taxes) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Deferred income taxes [Line Items]
Balance as at the begining of the year	$ (337)	$ (273)
Amounts recorded in the statement of income	17	(58)
Amounts recorded to a capital reserve	(8)	(12)
Translation differences	(10)	6
Balance as at the end of the year	(338)	(337)
Depreciable Property, Plant And Equipment And Intangible Assets [Member]
Deferred income taxes [Line Items]
Balance as at the begining of the year	(596)	(547)
Amounts recorded in the statement of income	(36)	(46)
Amounts recorded to a capital reserve	0	0
Translation differences	9	(3)
Balance as at the end of the year	(623)	(596)
Inventory [Member]
Deferred income taxes [Line Items]
Balance as at the begining of the year	50	72
Amounts recorded in the statement of income	(7)	(22)
Amounts recorded to a capital reserve	0	0
Translation differences	(1)	0
Balance as at the end of the year	42	50
Provisions for employee benefits [Member]
Deferred income taxes [Line Items]
Balance as at the begining of the year	52	64
Amounts recorded in the statement of income	4	(5)
Amounts recorded to a capital reserve	(8)	(8)
Translation differences	(1)	1
Balance as at the end of the year	47	52
Other [Member]
Deferred income taxes [Line Items]
Balance as at the begining of the year	15	19
Amounts recorded in the statement of income	33	(4)
Amounts recorded to a capital reserve	0	(4)
Translation differences	(7)	4
Balance as at the end of the year	41	15
Carry Forward Tax Losses [Member]
Deferred income taxes [Line Items]
Balance as at the begining of the year	142	119
Amounts recorded in the statement of income	23	19
Amounts recorded to a capital reserve	0	0
Translation differences	(10)	4
Balance as at the end of the year	$ 155	$ 142

Taxes on Income (Deferred Taxes by Currency) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Deferred income taxes [Line Items]
Deferred income taxes	$ (338)	$ (337)	$ (273)
Israel, New Shekels
Deferred income taxes [Line Items]
Deferred income taxes	(432)	(420)
Euro Member Countries, Euro
Deferred income taxes [Line Items]
Deferred income taxes	51	38
Brazilian Real [Member]
Deferred income taxes [Line Items]
Deferred income taxes	15	24
British Pound [Member]
Deferred income taxes [Line Items]
Deferred income taxes	11	11
US Dollar [Member]
Deferred income taxes [Line Items]
Deferred income taxes	9	1
Other Currency [Member]
Deferred income taxes [Line Items]
Deferred income taxes	$ 8	$ 9

Taxes on Income (Composition) (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2024

Dec. 31, 2023

Dec. 31, 2022

Current taxes

$ 184

$ 251

$ 869

Deferred taxes

(20)

47

45

Taxes in respect of prior years

^[1]

8

(11)

271

Income taxes

$ 172

$ 287

$ 1,185

[1]	For 2022, included the settlement agreement related to surplus profit levy, as described above.

The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]

Major components of tax expense (income) [abstract]

Taxes on Income (Theoretical Tax) (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2024

Dec. 31, 2023

Dec. 31, 2022

Income before taxes on income, as reported in the statements of income

$ 636

$ 974

$ 3,404

Statutory tax rate (in Israel)

23.00%

Theoretical tax expense

$ 146

$ 224

$ 783

Add (less) - the tax effect of:

Surplus Profit Levy Tax

3

62

265

Reduced tax due to tax benefits

(12)

(17)

(95)

Differences deriving from additional deduction and different tax rates applicable to foreign subsidiaries

(19)

(32)

1

Tax on dividend

6

4

5

Deductible temporary differences and their reversal (including carryforward losses) for which deferred taxes assets were not recorded and non–deductible expenses

29

52

(29)

Taxes in respect of prior years

^[1]

8

(11)

271

Differences in measurement basis

3

2

(21)

Other Differences

8

3

5

Taxes on income included in the income statements

$ 172

$ 287

$ 1,185

[1]	For 2022, included the settlement agreement related to surplus profit levy, as described above.

Taxes on Income (Items Recorded in Equity) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Major components of tax expense (income) [abstract]
Actuarial gains from defined benefit plan	$ (8)	$ (8)	$ (12)
Change in fair value of hedging derivatives	(2)	(4)	4
Taxes in respect of exchange rate differences on equity loan to a subsidiary included in translation adjustment	27	(9)	(11)
Tax recorded in other comprehensive income	$ 17	$ (21)	$ (19)

Employee Benefits (Narratives) (Details) Share in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) Share	Dec. 31, 2023 USD ($)
Disclosure of terms and conditions of share-based payment arrangement [line items]
Description of pension and early retirement plan	Some of the Company’s employees in and outside of Israel have defined benefit pension plans for their retirement, which are controlled by the Company. Generally, according to the terms of the plans, as stated, the employees are entitled to receive pension payments based on, among other things, their number of years of service (in certain cases up to 70% of their last base salary) or computed, in certain cases, based on a fixed salary. Some employees of a subsidiary in Israel are entitled to early retirement if they meet certain conditions, including age and seniority at the time of retirement.
Actual return (loss) on plan assets	$ 16	$ 28
Expenses recorded in respect of defined contribution plans	39	$ 38
The Company's estimate of deposits expected in funded defined benefit plans for 2024	$ 9
CEO and Chairman of Board [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of equity instruments granted \| Share	4.3
Value of equity instruments granted	$ 7
Year 2025 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Cash incentive to senior managers subject to compliance with certain financial targets	$ 37

Employee Benefits (Composition of Employee Benefits) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Classes of employee benefits expense [abstract]
Fair value of plan assets	$ 444	$ 453
Termination benefits	(54)	(64)
Defined benefit obligation	(605)	(653)
Total employee benefits	$ (215)	$ (264)

Employee Benefits (Composition of Fair Value of the Plan Assets) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Levels of fair value hierarchy [Line Items]
Equity instruments	$ 150	$ 176
Debt instruments	270	253
Deposits with insurance companies	24	24
Fair value of plan assets	444	453
With quoted market price [Member]
Levels of fair value hierarchy [Line Items]
Equity instruments	119	138
Debt instruments	194	240
Without quoted market price [Member]
Levels of fair value hierarchy [Line Items]
Equity instruments	31	38
Debt instruments	$ 76	$ 13

Employee Benefits (Movement in Net Defined Benefit Assets Liabilities and in their Components) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Movement in net defined benefit assets (liabilities) [Line Items]
Balance as at the begining of the year	$ 453
Other movements:
Balance as at the end of the year	444	$ 453
Fair value of plan assets [Member]
Movement in net defined benefit assets (liabilities) [Line Items]
Balance as at the begining of the year	453	432
Income (costs) included in profit or loss:
Current service costs	0	0
Interest income (expenses)	21	20
Past service cost	0	0
Effect of movements in exchange rates, net	(1)	(6)
Included in other comprehensive income:
Actuarial profits (losses) deriving from changes in financial assumptions	0	0
Other actuarial gains	(5)	8
Change with respect to translation differences, net	(6)	12
Other movements:
Benefits received (paid)	(24)	(19)
Employer contribution	6	6
Balance as at the end of the year	444	453
Defined benefit obligation [Member]
Movement in net defined benefit assets (liabilities) [Line Items]
Balance as at the begining of the year	(653)	(664)
Income (costs) included in profit or loss:
Current service costs	(13)	(15)
Interest income (expenses)	(31)	(31)
Past service cost	1	(1)
Effect of movements in exchange rates, net	2	10
Included in other comprehensive income:
Actuarial profits (losses) deriving from changes in financial assumptions	38	24
Other actuarial gains	0	0
Change with respect to translation differences, net	11	(15)
Other movements:
Benefits received (paid)	40	39
Employer contribution	0	0
Balance as at the end of the year	(605)	(653)
Defined benefit obligation, net [Member]
Movement in net defined benefit assets (liabilities) [Line Items]
Balance as at the begining of the year	(200)	(232)
Income (costs) included in profit or loss:
Current service costs	(13)	(15)
Interest income (expenses)	(10)	(11)
Past service cost	1	(1)
Effect of movements in exchange rates, net	1	4
Included in other comprehensive income:
Actuarial profits (losses) deriving from changes in financial assumptions	38	24
Other actuarial gains	(5)	8
Change with respect to translation differences, net	5	(3)
Other movements:
Benefits received (paid)	16	20
Employer contribution	6	6
Balance as at the end of the year	$ (161)	$ (200)

Employee Benefits (Actuarial Assumptions) (Details)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Discount rate as at the end of the year [Member]
Actuarial assumptions [Line Items]
Principal actuarial assumptions	5.20%	4.90%	4.70%
Future salary increases [Member]
Actuarial assumptions [Line Items]
Principal actuarial assumptions	3.60%	3.60%	3.90%
Future pension increase [Member]
Actuarial assumptions [Line Items]
Principal actuarial assumptions	2.50%	2.60%	2.80%

Employee Benefits (Sensitivity Analysis) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Actuarial assumptions [Line Items]
Defined benefit obligation	$ 605	$ 653
Salary increases [Member] \| Decrease 10% [Member]
Actuarial assumptions [Line Items]
Defined benefit obligation	(7)
Salary increases [Member] \| Decrease 5% [Member]
Actuarial assumptions [Line Items]
Defined benefit obligation	(3)
Salary increases [Member] \| Increase 5% [Member]
Actuarial assumptions [Line Items]
Defined benefit obligation	3
Salary increases [Member] \| Increase 10% [Member]
Actuarial assumptions [Line Items]
Defined benefit obligation	7
Discount rate [Member] \| Decrease 10% [Member]
Actuarial assumptions [Line Items]
Defined benefit obligation	26
Discount rate [Member] \| Decrease 5% [Member]
Actuarial assumptions [Line Items]
Defined benefit obligation	13
Discount rate [Member] \| Increase 5% [Member]
Actuarial assumptions [Line Items]
Defined benefit obligation	(13)
Discount rate [Member] \| Increase 10% [Member]
Actuarial assumptions [Line Items]
Defined benefit obligation	(26)
Mortality table [Member] \| Decrease 10% [Member]
Actuarial assumptions [Line Items]
Defined benefit obligation	12
Mortality table [Member] \| Decrease 5% [Member]
Actuarial assumptions [Line Items]
Defined benefit obligation	6
Mortality table [Member] \| Increase 5% [Member]
Actuarial assumptions [Line Items]
Defined benefit obligation	(6)
Mortality table [Member] \| Increase 10% [Member]
Actuarial assumptions [Line Items]
Defined benefit obligation	$ (12)

Provisions (Narratives) (Details) $ in Millions	Dec. 31, 2024 USD ($)
Suria And Sallent Sites, Spain [Member]
Disclosure of other provisions [line items]
Amount of provision for the closure and restoration for the Salltent/Mining site	$ 65
Period used for estimating the cost of closure and restoration for the Salltent site	49 years
Rotem Amfert Israel [Member]
Disclosure of other provisions [line items]
Amount of provision for the closure and restoration for the Salltent/Mining site	$ 109
Bromine Israel [Member]
Disclosure of other provisions [line items]
Amount of provision for the closure and restoration for the Salltent/Mining site	$ 21

Provisions (Information) (Details)
$ in Millions

12 Months Ended

Dec. 31, 2024

USD ($)

$ 309

60

(6)

(60)

(10)

Site restoration and equipment dismantling [Member]

293

224

^[1]

54

^[1]

0

^[1]

(29)

^[1]

(5)

^[1]

244

^[1]

Legal claims [Member]

45

1

(1)

(30)

(2)

13

Other [Member]

40

5

(5)

(1)

(3)

Officers and senior employees [Member] | June 30, 2016 [Member]

$ 36

[1]	Main items under 'Site restoration and equipment dismantling'

Commitments, Concessions and Contingent Liabilities (Narratives) (Details) ₪ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2024 ILS (₪)	Dec. 31, 2024 USD ($)	Dec. 31, 2022 ILS (₪)	Dec. 31, 2020 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016	Dec. 31, 2024 USD ($)
Capital commitments [abstract]
Contractual commitments for acquisition of raw materials and energy							$ 2,000.0
Contractual commitments for acquisition of property, plant and equipment							708.0
Percentage of projects cost assumed	90.00%	90.00%
Project cost to be paid throughout construction and operation period		$ 110.0
Expected extension of operation period	25 years	25 years
Total amount of new natural gas agreement with Energean					$ 2,000.0
Years of supply of natural gas					15 years
Rotem's existing obligations to rehabilitate its mining and plants areas		$ 16.0
Amount of alleged damages for dialogue meeting to be held before pursuing legal action		$ 15.0
Period of mining of phosphate or until exhaustion of raw material whichever occurs first						25 years
Long term lease agreement with a third party of office building				15 years
Extension term lease agreement with third party of office building				10 years
Annual rent on long-term lease agreement				$ 3.7
Indemnification payable for directors and officers limit							300.0
DSW rate of royalties payment	5.00%	5.00%
Royalty rate for production of phosphates	5.00%	5.00%
Total royalties		$ 4.3
Claimed remedies for an application for class action on alleged environmental hazards to Zin stream	₪ 3,000						933.0
Remedy relating Aquifer And Bokek Stream restoration application certification claim as class action							24.0
Amount transferred to NPA \| ₪			₪ 3
A class action claim relating air pollution in Haifa Bay	₪ 13,400						4,200.0
Company's part in financing of coastline defenses	39.50%	39.50%
Company's part in financing of the salt harvesting project	80.00%	80.00%
Government part in financing of salt harvesting project	20.00%	20.00%
Maximum government share in financing salt harvesting project \| ₪	₪ 1,400
ICL damages lawsuit against IBM							300.0
IBM counterclaim	170						53.0
Amount of damages alleged by group incurred respondents	133	$ 40.0
Amount of additional damages alleged by group incurred respondents	₪ 57	$ 17.0
Compensation in application for certification of claim as class action regarding alleged monopolistic exploitation difference test							$ 17.0
Percentage of mining royalties	2.10%	2.10%
Royalty payment		$ 2.2
Percentage of natural resources royalties	8.00%	8.00%
Estimated public compensation		$ 435.0
Mining extraction compensated by YPC	3-5 years	3-5 years

Equity (Narratives) (Details) $ / shares in Units, shares in Millions, Share in Millions, $ in Millions		12 Months Ended
	Mar. 06, 2025 USD ($) Share	Dec. 31, 2024 USD ($) ₪ / shares shares	Dec. 31, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Equity [abstract]
Percentage of acquisition of issued share capital			14.00%
Percentage of acquisition of augmentation of issued share capital			25.00%
Percentage of acquisition of augmentation of existing holding up to			25.00%
Percentage of acquisition of augmentation of existing holding less than			25.00%
Weighted average share price \| (per share)		₪ 18	$ 4.94
Number of shares acquired by subsidiaries or associates under purchase plan \| shares			22.4
Total consideration		₪ 258	$ 258
Expenses from Equity Compensation Plans			$ 10	$ 7	$ 12
Total shares held by the company and it's subsidiaries \| shares		24.5	24.5
Granted during the year \| Share	4.3
Fair value at the grant date	$ 7

Equity (Composition) (Details) - shares shares in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Number of Ordinary shares of Israeli Shekel 1 par value (in millions) [Member]
Disclosure of classes of share capital [Line Items]
Number of shares authorized	1,485	1,485
Number of shares issued and paid	1,315	1,314	1,314
Number of Special State shares of Israeli Shekel 1 par value [Member]
Disclosure of classes of share capital [Line Items]
Number of shares authorized	1	1
Number of shares issued and paid	1	1

Equity (Reconciliation of the Number of Shares Outstanding) (Details) - Number of Ordinary shares of Israeli Shekel 1 par value (in millions) [Member] - shares shares in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Disclosure of classes of share capital [Line Items]
Balance as at Start of Period	1,314	1,314
Issuance of shares	1	0
Balance as at End of Period	1,315	1,314

Equity (Share-based Payments to Employees, Non-marketable Options) (Details) - Non-marketable Options [Member]
shares in Thousands

12 Months Ended

Dec. 31, 2024

shares

Disclosure of terms and conditions of share-based payment arrangement [line items]

3,035

An issuance of non-marketable and non-transferrable options, for no consideration, under the 2014 Equity Compensation Plan, as amended in June 2016 (hereinafter – the amended 2014 Equity Compensation Plan).

Upon exercise, each option may be converted into one ordinary share of NIS 1 par value of the Company.

3 equal tranches: (1) one third at the end of 12 months after the grant date (2) one third at the end of 24 months after the grant date (3) one third at the end of 36 months after the grant date

Officers and senior employees [Member] | February 14, 2017 [Member]

June 30, 2023

Disclosure of terms and conditions of share-based payment arrangement [line items]

Officers and senior employees [Member] | June 20, 2017 [Member]

February 14, 2024

Disclosure of terms and conditions of share-based payment arrangement [line items]

6,868

An issuance of non-marketable and non-transferrable options, for no consideration, under the 2014 Equity Compensation Plan, as amended in June 2016 (hereinafter – the amended 2014 Equity Compensation Plan).

Upon exercise, each option may be converted into one ordinary share of NIS 1 par value of the Company.

3 equal tranches: (1) one third at the end of 12 months after the grant date (2) one third at the end of 24 months after the grant date (3) one third at the end of 36 months after the grant date

Officers and senior employees [Member] | March 6 2018 [Member]

June 20, 2024

Disclosure of terms and conditions of share-based payment arrangement [line items]

5,554

An issuance of non-marketable and non-transferrable options, for no consideration, under the 2014 Equity Compensation Plan, as amended in June 2016 (hereinafter – the amended 2014 Equity Compensation Plan).

Upon exercise, each option may be converted into one ordinary share of NIS 1 par value of the Company.

3 equal tranches: (1) one third at the end of 12 months after the grant date (2) one third at the end of 24 months after the grant date (3) one third at the end of 36 months after the grant date

Officers and senior employees [Member] | February 14 2023 [Member]

March 6, 2025

Disclosure of terms and conditions of share-based payment arrangement [line items]

Officers and senior employees [Member] | April 4, 2024 [Member]

An issuance of non-marketable and non-transferrable options, for no consideration, under the 2014 Equity Compensation Plan, as amended in June 2016 (hereinafter – the amended 2014 Equity Compensation Plan).

Disclosure of terms and conditions of share-based payment arrangement [line items]

An issuance of non-marketable and non-transferrable options, for no consideration, under the 2014 Equity Compensation Plan, as amended in June 2016 (hereinafter – the amended 2014 Equity Compensation Plan).

Former chairman of BOD [Member]

Upon exercise, each option may be converted into one ordinary share of NIS 1 par value of the Company.

Disclosure of terms and conditions of share-based payment arrangement [line items]

Former chairman of BOD [Member] | September 5, 2016 [Member]

Upon exercise, each option may be converted into one ordinary share of NIS 1 par value of the Company.

Disclosure of terms and conditions of share-based payment arrangement [line items]

186

An issuance of non-marketable and non-transferrable options, for no consideration, under the 2014 Equity Compensation Plan, as amended in June 2016 (hereinafter – the amended 2014 Equity Compensation Plan).

Upon exercise, each option may be converted into one ordinary share of NIS 1 par value of the Company.

3 equal tranches: (1) one third at the end of 12 months after the grant date (2) one third at the end of 24 months after the grant date (3) one third at the end of 36 months after the grant date

Former chairman of BOD [Member] | August 2, 2017 [Member]

June 30, 2023

Disclosure of terms and conditions of share-based payment arrangement [line items]

165

An issuance of non-marketable and non-transferrable options, for no consideration, under the 2014 Equity Compensation Plan, as amended in June 2016 (hereinafter – the amended 2014 Equity Compensation Plan).

Upon exercise, each option may be converted into one ordinary share of NIS 1 par value of the Company.

3 equal tranches: (1) one third at the end of 12 months after the grant date (2) one third at the end of 24 months after the grant date (3) one third at the end of 36 months after the grant date

Former chairman of BOD [Member] | August 20, 2018 [Member]

June 20, 2024

Disclosure of terms and conditions of share-based payment arrangement [line items]

403

An issuance of non-marketable and non-transferrable options, for no consideration, under the 2014 Equity Compensation Plan, as amended in June 2016 (hereinafter – the amended 2014 Equity Compensation Plan).

3 equal tranches: (1) one third at the end of 12 months after the grant date (2) one third at the end of 24 months after the grant date (3) one third at the end of 36 months after the grant date

Former chairman of BOD [Member] | February 14 2023 [Member]

August 20, 2025

Disclosure of terms and conditions of share-based payment arrangement [line items]

Former Chief Executive Officer [Member] | February 14, 2017 [Member]

Upon exercise, each option may be converted into one ordinary share of NIS 1 par value of the Company.

Disclosure of terms and conditions of share-based payment arrangement [line items]

Former Chief Executive Officer [Member] | May 14, 2018 [Member]

3 equal tranches: (1) one third at the end of 12 months after the grant date (2) one third at the end of 24 months after the grant date (3) one third at the end of 36 months after the grant date

Disclosure of terms and conditions of share-based payment arrangement [line items]

Former Ceo [Member] | February 14, 2017 [Member]

3 equal tranches: (1) one third at the end of 12 months after the grant date (2) one third at the end of 24 months after the grant date (3) one third at the end of 36 months after the grant date

Disclosure of terms and conditions of share-based payment arrangement [line items]

114

An issuance of non-marketable and non-transferrable options, for no consideration, under the 2014 Equity Compensation Plan, as amended in June 2016 (hereinafter – the amended 2014 Equity Compensation Plan).

Former Ceo [Member] | May 14, 2018 [Member]

Upon exercise, each option may be converted into one ordinary share of NIS 1 par value of the Company.

Disclosure of terms and conditions of share-based payment arrangement [line items]

385

An issuance of non-marketable and non-transferrable options, for no consideration, under the 2014 Equity Compensation Plan, as amended in June 2016 (hereinafter – the amended 2014 Equity Compensation Plan).

Former Ceo [Member] | June 27, 2019 [Member]

May 14, 2025

Disclosure of terms and conditions of share-based payment arrangement [line items]

3,512

An issuance of non-marketable and non-transferrable options, for no consideration, under the 2014 Equity Compensation Plan, as amended in June 2016 (hereinafter – the amended 2014 Equity Compensation Plan).

Upon exercise, each option may be converted into one ordinary share of NIS 1 par value of the Company.

2 equal tranches: (1) half at the end of 24 months after the grant date. (2) half at the end of 36 months after the grant date.

Former Ceo [Member] | March 30, 2022 [Member]

5 years after the grant date

Disclosure of terms and conditions of share-based payment arrangement [line items]

1,941

An issuance of non-marketable and non-transferrable options, for no consideration, under the 2014 Equity Compensation Plan, as amended in June 2016 (hereinafter – the amended 2014 Equity Compensation Plan).

Upon exercise, each option may be converted into one ordinary share of NIS 1 par value of the Company.

3 equal tranches: (1) one third at the end of 12 months after the grant date (2) one third at the end of 24 months after the grant date (3) one third at the end of 36 months after the grant date

Officers and senior manager [Member] | April 15, 2019 [Member]

5 years after the grant date

Disclosure of terms and conditions of share-based payment arrangement [line items]

13,242

An issuance of non-marketable and non-transferrable options, for no consideration, under the 2014 Equity Compensation Plan, as amended in June 2016 (hereinafter – the amended 2014 Equity Compensation Plan).

Upon exercise, each option may be converted into one ordinary share of NIS 1 par value of the Company.

2 equal tranches: (1) half at the end of 24 months after the grant date. (2) half at the end of 36 months after the grant date.

Officers and senior manager [Member] | April 4, 2024 [Member]

5 years after the grant date

Disclosure of terms and conditions of share-based payment arrangement [line items]

12,333

3 equal tranches: (1) one third at the end of 12 months after the grant date (2) one third at the end of 24 months after the grant date (3) one third at the end of 36 months after the grant date

Chairman BOD [Member] | May 29 2019 [Member]

5 years after the grant date

Disclosure of terms and conditions of share-based payment arrangement [line items]

2,169

^[1]

An issuance of non-marketable and non-transferrable options, for no consideration, under the 2014 Equity Compensation Plan, as amended in June 2016 (hereinafter – the amended 2014 Equity Compensation Plan).

Upon exercise, each option may be converted into one ordinary share of NIS 1 par value of the Company.

2 equal tranches: (1) half at the end of 24 months after the grant date. (2) half at the end of 36 months after the grant date.

Chairman BOD [Member] | March 30, 2022 [Member]

5 years after the grant date

Disclosure of terms and conditions of share-based payment arrangement [line items]

1,055

Upon exercise, each option may be converted into one ordinary share of NIS 1 par value of the Company.

3 equal tranches: (1) one third at the end of 12 months after the grant date (2) one third at the end of 24 months after the grant date (3) one third at the end of 36 months after the grant date

Senior Employees [Member] | June 30, 2021 [Member]

5 years after the grant date

Disclosure of terms and conditions of share-based payment arrangement [line items]

647

An issuance of non-marketable and non-transferrable options, for no consideration, under the 2014 Equity Compensation Plan, as amended in June 2016 (hereinafter – the amended 2014 Equity Compensation Plan).

Upon exercise, each option may be converted into one ordinary share of NIS 1 par value of the Company.

2 equal tranches: (1) half at the end of 24 months after the grant date. (2) half at the end of 36 months after the grant date.

Senior Employees [Member] | February 8, 2022 [Member]

5 years after the grant date

Disclosure of terms and conditions of share-based payment arrangement [line items]

9,294

An issuance of non-marketable and non-transferrable options, for no consideration, under the 2014 Equity Compensation Plan, as amended in June 2016 (hereinafter – the amended 2014 Equity Compensation Plan).

Upon exercise, each option may be converted into one ordinary share of NIS 1 par value of the Company.

3 equal tranches: (1) one third at the end of 12 months after the grant date (2) one third at the end of 24 months after the grant date (3) one third at the end of 36 months after the grant date

Senior Managers [Member] | February 14 2023 [Member]

5 years after the grant date

Disclosure of terms and conditions of share-based payment arrangement [line items]

461

3 equal tranches: (1) one third at the end of 12 months after the grant date (2) one third at the end of 24 months after the grant date (3) one third at the end of 36 months after the grant date

Number of options exercisable (In Millions)

5 years after the grant date

[1]	The options were issued upon Mr. Doppelt's entry into office on July 1, 2019.

Equity (Share-based Payments to Employees, Non-marketable Options, Grants Parameters) (Details)	12 Months Ended
	Dec. 31, 2024 USD ($) yr $ / shares
Granted 2016 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share price (in $) \| $ / shares	$ 3.9
CPI-linked exercise price (in $) \| $	$ 4.3
Fair value \| $	$ 4,000,000
Weighted average grant date fair value per option (in $) \| $ / shares	$ 1.1
Granted 2017 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share price (in $) \| $ / shares	$ 4.5
CPI-linked exercise price (in $) \| $	$ 4.3
Fair value \| $	$ 11,300,000
Weighted average grant date fair value per option (in $) \| $ / shares	$ 1.6
Granted 2018 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share price (in $) \| $ / shares	$ 4.4
CPI-linked exercise price (in $) \| $	$ 4.3
Fair value \| $	$ 8,800,000
Weighted average grant date fair value per option (in $) \| $ / shares	$ 1.4
Granted 2019 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share price (in $) \| $ / shares	$ 5.4
CPI-linked exercise price (in $) \| $	$ 5.3
Fair value \| $	$ 7,500,000
Weighted average grant date fair value per option (in $) \| $ / shares	$ 1.2
Granted 2021 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share price (in $) \| $ / shares	$ 6.8
CPI-linked exercise price (in $) \| $	$ 7.1
Fair value \| $	$ 600,000
Weighted average grant date fair value per option (in $) \| $ / shares	$ 1.3
Granted 2022 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share price (in $) \| $ / shares	$ 10
CPI-linked exercise price (in $) \| $	$ 10.1
Fair value \| $	$ 24,900,000
Weighted average grant date fair value per option (in $) \| $ / shares	$ 2
Granted 2023 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share price (in $) \| $ / shares	$ 7.7
CPI-linked exercise price (in $) \| $	$ 7.6
Fair value \| $	$ 900,000
Weighted average grant date fair value per option (in $) \| $ / shares	$ 2
Granted 2024 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share price (in $) \| $ / shares	$ 5.1
CPI-linked exercise price (in $) \| $	$ 5.1
Fair value \| $	$ 15,400,000
Weighted average grant date fair value per option (in $) \| $ / shares	$ 1.3
First tranche [Member] \| Granted 2016 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility	30.51%
Expected life of options (in years)	7
Equity Compensation Plan Risk Free Interest Rate	0.01%
First tranche [Member] \| Granted 2017 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility	31.88%
Expected life of options (in years)	7
Equity Compensation Plan Risk Free Interest Rate	0.37%
First tranche [Member] \| Granted 2018 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility	28.86%
Expected life of options (in years)	7
Equity Compensation Plan Risk Free Interest Rate	0.03%
First tranche [Member] \| Granted 2019 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility	27.85%
Expected life of options (in years)	4.4
Equity Compensation Plan Risk Free Interest Rate	(0.67%)
First tranche [Member] \| Granted 2021 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility	31.70%
Expected life of options (in years)	4.4
Equity Compensation Plan Risk Free Interest Rate	0.43%
First tranche [Member] \| Granted 2022 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility	31.80%
Expected life of options (in years)	3.2
Equity Compensation Plan Risk Free Interest Rate	(1.46%)
First tranche [Member] \| Granted 2023 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility	35.84%
Expected life of options (in years)	3.1
Equity Compensation Plan Risk Free Interest Rate	1.49%
First tranche [Member] \| Granted 2024 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility	32.20%
Expected life of options (in years)	3.1
Equity Compensation Plan Risk Free Interest Rate	2.09%
Second tranche [Member] \| Granted 2016 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility	30.51%
Expected life of options (in years)	7
Equity Compensation Plan Risk Free Interest Rate	0.01%
Second tranche [Member] \| Granted 2017 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility	31.88%
Expected life of options (in years)	7
Equity Compensation Plan Risk Free Interest Rate	0.37%
Second tranche [Member] \| Granted 2018 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility	28.86%
Expected life of options (in years)	7
Equity Compensation Plan Risk Free Interest Rate	0.03%
Second tranche [Member] \| Granted 2019 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility	27.85%
Expected life of options (in years)	4.4
Equity Compensation Plan Risk Free Interest Rate	(0.67%)
Second tranche [Member] \| Granted 2021 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility	31.70%
Expected life of options (in years)	4.4
Equity Compensation Plan Risk Free Interest Rate	0.43%
Second tranche [Member] \| Granted 2022 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility	30.88%
Expected life of options (in years)	3.8
Equity Compensation Plan Risk Free Interest Rate	(1.29%)
Second tranche [Member] \| Granted 2023 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility	34.15%
Expected life of options (in years)	3.7
Equity Compensation Plan Risk Free Interest Rate	1.43%
Second tranche [Member] \| Granted 2024 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility	32.26%
Expected life of options (in years)	3.7
Equity Compensation Plan Risk Free Interest Rate	2.17%
Third tranche [Member] \| Granted 2016 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility	30.51%
Expected life of options (in years)	7
Equity Compensation Plan Risk Free Interest Rate	0.01%
Third tranche [Member] \| Granted 2017 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility	31.88%
Expected life of options (in years)	7
Equity Compensation Plan Risk Free Interest Rate	0.37%
Third tranche [Member] \| Granted 2018 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility	28.86%
Expected life of options (in years)	7
Equity Compensation Plan Risk Free Interest Rate	0.03%
Third tranche [Member] \| Granted 2019 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility	0.00%
Expected life of options (in years)	0
Equity Compensation Plan Risk Free Interest Rate	0.00%
Third tranche [Member] \| Granted 2021 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility	0.00%
Expected life of options (in years)	0
Equity Compensation Plan Risk Free Interest Rate	0.00%
Third tranche [Member] \| Granted 2022 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility	30.52%
Expected life of options (in years)	4
Equity Compensation Plan Risk Free Interest Rate	(1.21%)
Third tranche [Member] \| Granted 2023 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility	33.77%
Expected life of options (in years)	3.9
Equity Compensation Plan Risk Free Interest Rate	1.43%
Third tranche [Member] \| Granted 2024 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility	32.62%
Expected life of options (in years)	3.9
Equity Compensation Plan Risk Free Interest Rate	2.17%

Equity (Share-based Payments to Employees, Non-marketable Options, Movement) (Details) - Share Share in Millions		12 Months Ended
	Mar. 06, 2025	Dec. 31, 2024	Dec. 31, 2023
Disclosure of terms and conditions of share-based payment arrangement [line items]
Granted during the year	4.3
Non Marketable Options [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Balance as at start of year		14.0	15.0
Granted during the year		12.0
Exercised during the year		(3.0)	(1.0)
Balance as at end of year		23.0	14.0

Equity (Share-based Payments to Employees, Non-marketable Options, Exercise Price) (Details) - $ / shares	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Granted in 2016 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price for options outstanding	$ 0	$ 0	$ 3.41
Granted in 2017 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price for options outstanding	0	2.79	3.14
Granted in 2018 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price for options outstanding	2.77	2.7	3.06
Granted in 2019 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price for options outstanding	0	4.27	4.57
Granted in 2021 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price for options outstanding	5.6	5.64	6
Granted in 2022 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price for options outstanding	8.6	8.56	8.91
Granted In 2023 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price for options outstanding	7.23	7.23	0
Granted in 2024 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price for options outstanding	$ 5.17	$ 0	$ 0

Equity (Share-based Payments to Employees, Non-marketable Options, Number of Options Vested) (Details)
$ in Millions

Dec. 31, 2024

USD ($)

₪ / shares

Dec. 31, 2024

USD ($)

$ / shares

Dec. 31, 2023

USD ($)

₪ / shares

Dec. 31, 2023

USD ($)

$ / shares

Dec. 31, 2022

USD ($)

₪ / shares

Dec. 31, 2022

USD ($)

$ / shares

Equity [abstract]

^[1]

8

7

5

Weighted average exercise price | (per share)

^[1]

₪ 30.36

$ 8.33

₪ 22.57

$ 6.22

₪ 15.67

$ 4.45

[1]	The share price as of December 31, 2022, is NIS 25.45 and $7.23.

Equity (Share-based Payments to Employees, Non-marketable Options, Range of Exercise Prices) (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disclosure of terms and conditions of share-based payment arrangement [line items]
Range Of Exercise Price Of Outstanding Share Options Nis	10.12-31.38	9.46-34.30	10.77-30.06
Range Of Exercise Price Of Outstanding Share Options Usd	2.77-8.60	2.70-9.81	3.06-8.54

Equity (Share-based Payments to Employees, Non-marketable Options, Average Remaining Contractual Life) (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disclosure of terms and conditions of share-based payment arrangement [line items]
Average remaining contractual life	3 years 2 months 26 days	2 years 7 months 2 days	3 years 5 months 1 day

Equity (Share-based Payments to Employees, Restricted Shares) (Details) $ in Millions	Mar. 06, 2025 USD ($)
Disclosure of terms and conditions of share-based payment arrangement [line items]
Fair value at the grant date (Million)	$ 7

Equity (Dividends Distributed to the Company's Shareholders) (Details) - USD ($)
$ / shares in Units, $ in Millions

12 Months Ended

Dec. 31, 2024

Dec. 31, 2023

Dec. 31, 2022

Disclosure of terms and conditions of share-based payment arrangement [line items]

$ 251

$ 474

$ 1,166

February 8, 2022 [Member]

$ 0.2

^[1]

$ 0.36

$ 0.9

Disclosure of terms and conditions of share-based payment arrangement [line items]

Mar. 08, 2022

$ 169

Disclosure of terms and conditions of share-based payment arrangement [line items]

$ 0.13

May 10, 2022 [Member]

Jun. 15, 2022

$ 307

Disclosure of terms and conditions of share-based payment arrangement [line items]

$ 0.24

July 26, 2022 [Member]

Sep. 14, 2022

$ 376

November 8, 2022 [Member]

$ 0.29

Disclosure of terms and conditions of share-based payment arrangement [line items]

Dec. 14, 2022

$ 314

Disclosure of terms and conditions of share-based payment arrangement [line items]

$ 0.24

August 8, 2023 [Member]

Sep. 13, 2023

$ 82

November 7, 2023 [Member]

$ 0.06

Disclosure of terms and conditions of share-based payment arrangement [line items]

Dec. 20, 2023

$ 68

Disclosure of terms and conditions of share-based payment arrangement [line items]

$ 0.05

May 9, 2023 [Member]

^[2]

Jun. 14, 2023

$ 146

February 14, 2023 [Member]

$ 0.11

Disclosure of terms and conditions of share-based payment arrangement [line items]

Mar. 15, 2023

$ 178

February 26, 2024 [Member]

$ 0.14

Disclosure of terms and conditions of share-based payment arrangement [line items]

^[1]

Mar. 26, 2024

$ 61

Disclosure of terms and conditions of share-based payment arrangement [line items]

$ 0.05

May 8, 2024 [Member]

^[1]

Jun. 20, 2024

$ 59

Disclosure of terms and conditions of share-based payment arrangement [line items]

$ 0.05

August 12, 2024 [Member]

^[1]

Sep. 18, 2024

$ 63

November 10, 2024 [Member]

$ 0.05

Disclosure of terms and conditions of share-based payment arrangement [line items]

^[1]

Dec. 18, 2024

$ 68

February 25, 2025 [Member]

$ 0.05

Disclosure of terms and conditions of share-based payment arrangement [line items]

^[1]

Mar. 25, 2025

^[3]

$ 52

^[3]

$ 0.04

[1]	The record date is March 14, 2024, and the payment date is March 26, 2024.
[2]	The record date is March 1, 2023, and the payment date is March 15, 2023.
[3]	The record date is March 12, 2025, and the payment date is March 25, 2025.

Details of Income Statement Items (Sales) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Details Of Income Statement [Abstract]
Sales	$ 6,841	$ 7,536	$ 10,015
Cost of sales
Materials consumed	2,341	2,547	3,152
Cost of labor	906	875	937
Energy and fuel	356	402	433
Depreciation And Amortization Expenses	506	450	409
Other	476	591	52
Cost of sales	$ 4,585	$ 4,865	$ 4,983

The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2024-01-01
-Paragraph 28
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2024-en-r&anchor=para_28_a&doctype=Standard
-URIDate 2024-03-27

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2024-01-01
-Paragraph 23
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2024-en-r&anchor=para_23_a&doctype=Standard
-URIDate 2024-03-27

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2024-01-01
-Paragraph 32
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2024-en-r&anchor=para_32&doctype=Standard
-URIDate 2024-03-27

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2024-01-01
-Paragraph 33
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2024-en-r&anchor=para_33_a&doctype=Standard
-URIDate 2024-03-27

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2024-01-01
-Paragraph 34
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2024-en-r&anchor=para_34&doctype=Standard
-URIDate 2024-03-27

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 5
-IssueDate 2024-01-01
-Paragraph 33
-Subparagraph b
-Clause i
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=5&code=ifrs-tx-2024-en-r&anchor=para_33_b_i&doctype=Standard
-URIDate 2024-03-27

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 12
-IssueDate 2024-01-01
-Paragraph B12
-Subparagraph b
-Clause v
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2024-en-r&anchor=para_B12_b_v&doctype=Appendix&subtype=B
-URIDate 2024-03-27

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2024-01-01
-Paragraph B10
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2024-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B
-URIDate 2024-03-27

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2024-01-01
-Paragraph 82
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2024-en-r&anchor=para_82_a&doctype=Standard
-URIDate 2024-03-27

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
-Number 1
-IssueDate 2024-01-01
-Paragraph 103
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2024-en-r&anchor=para_103&doctype=Standard
-URIDate 2024-03-27

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
-Number 1
-IssueDate 2024-01-01
-Paragraph 102
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2024-en-r&anchor=para_102&doctype=Standard
-URIDate 2024-03-27

+ Details

Details of Income Statement Items (Expenses) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Selling, transport and marketing expenses
Land and Marine transportation	$ 722	$ 714	$ 792
Cost of labor	185	176	188
Other	207	203	201
Selling, transport and marketing expenses	1,114	1,093	1,181
General and administrative expenses
Cost of labor	155	147	168
Professional Services	44	43	44
Other	60	70	79
General and administrative expenses	259	260	291
Research and development expenses
Cost of labor	52	56	55
Other	17	15	13
Research and development expenses	$ 69	$ 71	$ 68

Details of Income Statement Items (Other Income and Expenses) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Other Income And Expense [Abstract]
Contingent consideration	$ 3	$ 8	$ 0
Rental Income	3	3	3
Insurance and energy tax refunds	3	2	15
Capital gain and profit from divestment	2	1	31
Employees benefits	2	0	0
Other	8	8	5
Other income recorded in the income statements	21	22	54
Provision for site closure, restoration costs and efficiency plan	24	45	6
Doubtful debts	14	2	1
Financial instrument at fair value	9	65	0
Provision for legal claims	4	1	17
Other	9	15	6
Other expenses recorded in the income statements	$ 60	$ 128	$ 30

Details of Income Statement Items (Financing Income and Expenses) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Financing income:
Net gain from changes in exchange rates	$ 0	$ 37	$ 139
Financing income in relation to employee benefits	1	7	44
Interest income from banks and others	40	47	31
Net gain from change in fair value of derivative designated as economic hedge	0	0	0
Net gain from change in fair value of derivative designated as cash flow hedge	0	0	0
Finance income	41	91	214
Financing expenses:
Net loss from change in fair value of derivative designated as economic hedge	3	54	98
Net loss from change in fair value of derivative designated as cash flow hedge	10	25	77
Interest expenses to banks and others	153	167	148
Financing expenses in relation to employees' benefits	13	13	7
Banks and finance institutions commissions (mainly commission on early repayment of loans)	5	7	7
Net loss from changes in exchange rates	4	0	0
Financing expenses	188	266	337
Net of borrowing costs capitalized	7	7	10
Finance expenses	181	259	327
Net financing expenses recorded in the income statements	$ 140	$ 168	$ 113

Financial Instruments and Risk Management (Narratives) (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Disclosure of risk management strategy related to hedge accounting [Line Items]
Hedging ratio	1:1
Hedged instruments amount	360,000,000
Us Dollar Ils [Member]
Disclosure of risk management strategy related to hedge accounting [Line Items]
Average interest discount on loan	4.50%	5.30%
Average interest discount on debenture	6.70%	8.10%

Financial Instruments and Risk Management (Groups and Measurement Bases of Financial Assets and Financial Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of financial instruments [Line Items]
Cash and cash equivalents	$ 327	$ 420	$ 417	$ 473
Short-term investments and deposits	115	172
Other receivables	258	363
Other non-current asset	261	239
Short term debt	(384)	(858)
Trade payables	(1,002)	(912)
Other current liabilities	(879)	(783)
Long term debt and debentures	(1,909)	(1,829)
Other non- current liabilities	(55)	(56)
Financial assets measured at fair value through the statement of income [Member]
Disclosure of financial instruments [Line Items]
Cash and cash equivalents	0	0
Short-term investments and deposits	0	0
Trade receivables	0	0
Other receivables	0	0
Foreign currency derivative designated as economic hedge	12	43
Foreign currency and interest derivative instruments designated as cash flow hedge	4	10
Foreign currency and interest derivative instruments designated as cash flow hedge Non-current assets	3	1
Other non-current asset	0	0
Total financial assets	19	54
Short term debt	0	0
Trade payables	0	0
Other current liabilities	0	0
Foreign currency derivative designated as economic hedge Current Liabilities	0	0
Foreign currency and interest derivative instruments designated as cash flow hedge Current liabilities	0	0
Long term debt and debentures	0	0
Foreign currency and interest derivative instruments designated as cash flow hedge Non Current Liabilities	0	0
Other non- current liabilities	0	0
Total financial liabilities	0	0
Total financial instruments, net	19	54
Measured at amortized cost [Member]
Disclosure of financial instruments [Line Items]
Cash and cash equivalents	327	420
Short-term investments and deposits	115	172
Trade receivables	1,260	1,376
Other receivables	33	94
Foreign currency derivative designated as economic hedge	0	0
Foreign currency and interest derivative instruments designated as cash flow hedge	0	0
Foreign currency and interest derivative instruments designated as cash flow hedge Non-current assets	0	0
Other non-current asset	20	22
Total financial assets	1,755	2,084
Short term debt	0	0
Trade payables	0	0
Other current liabilities	0	0
Foreign currency derivative designated as economic hedge Current Liabilities	0	0
Foreign currency and interest derivative instruments designated as cash flow hedge Current liabilities	0	0
Long term debt and debentures	0	0
Foreign currency and interest derivative instruments designated as cash flow hedge Non Current Liabilities	0	0
Other non- current liabilities	0	0
Total financial liabilities	0	0
Total financial instruments, net	1,755	2,084
Financial liabilities measured at fair value through the statement of income [Member]
Disclosure of financial instruments [Line Items]
Cash and cash equivalents	0	0
Short-term investments and deposits	0	0
Trade receivables	0	0
Other receivables	0	0
Foreign currency derivative designated as economic hedge	0	0
Foreign currency and interest derivative instruments designated as cash flow hedge	0	0
Foreign currency and interest derivative instruments designated as cash flow hedge Non-current assets	0	0
Other non-current asset	0	0
Total financial assets	0	0
Short term debt	0	0
Trade payables	0	0
Other current liabilities	0	0
Foreign currency derivative designated as economic hedge Current Liabilities	(11)	(4)
Foreign currency and interest derivative instruments designated as cash flow hedge Current liabilities	(3)	(3)
Long term debt and debentures	0	0
Foreign currency and interest derivative instruments designated as cash flow hedge Non Current Liabilities	(4)	(7)
Other non- current liabilities	0	0
Total financial liabilities	(18)	(14)
Total financial instruments, net	(18)	(14)
Measured at amortized cost [Member]
Disclosure of financial instruments [Line Items]
Cash and cash equivalents	0	0
Short-term investments and deposits	0	0
Trade receivables	0	0
Other receivables	0	0
Foreign currency derivative designated as economic hedge	0	0
Foreign currency and interest derivative instruments designated as cash flow hedge	0	0
Foreign currency and interest derivative instruments designated as cash flow hedge Non-current assets	0	0
Other non-current asset	0	0
Total financial assets	0	0
Short term debt	(384)	(858)
Trade payables	(1,002)	(912)
Other current liabilities	(156)	(180)
Foreign currency derivative designated as economic hedge Current Liabilities	0	0
Foreign currency and interest derivative instruments designated as cash flow hedge Current liabilities	0	0
Long term debt and debentures	(1,909)	(1,829)
Foreign currency and interest derivative instruments designated as cash flow hedge Non Current Liabilities	0	0
Other non- current liabilities	(41)	(41)
Total financial liabilities	(3,492)	(3,820)
Total financial instruments, net	$ (3,492)	$ (3,820)

Financial Instruments and Risk Management (Credit Risk - Maximum Exposure to Credit Risk) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Maximum Exposure to credit risk Financial assets [Line Items]
Carrying amount	$ 1,774	$ 2,138
Ifrs Cash And Cash Equivalents Member
Maximum Exposure to credit risk Financial assets [Line Items]
Carrying amount	327	420
Short term investments and deposits [Member]
Maximum Exposure to credit risk Financial assets [Line Items]
Carrying amount	115	172
Trade receivables [Member]
Maximum Exposure to credit risk Financial assets [Line Items]
Carrying amount	1,260	1,376
Other receivables [Member]
Maximum Exposure to credit risk Financial assets [Line Items]
Carrying amount	33	94
Derivatives [Member]
Maximum Exposure to credit risk Financial assets [Line Items]
Carrying amount	19	54
Other non-current assets [Member]
Maximum Exposure to credit risk Financial assets [Line Items]
Carrying amount	$ 20	$ 22

Financial Instruments and Risk Management (Credit Risk - Maximum Exposure to Credit Risk for Trade Receivables by Geographic Region) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Disclosure of financial instruments [Line Items]
Maximum exposure to credit risk of loans or receivables	$ 1,260	$ 1,376
South America [Member]
Disclosure of financial instruments [Line Items]
Maximum exposure to credit risk of loans or receivables	390	409
Europe Region [Member]
Disclosure of financial instruments [Line Items]
Maximum exposure to credit risk of loans or receivables	310	352
Asia Region [Member]
Disclosure of financial instruments [Line Items]
Maximum exposure to credit risk of loans or receivables	278	313
North America Region Member
Disclosure of financial instruments [Line Items]
Maximum exposure to credit risk of loans or receivables	187	196
Israel [Member]
Disclosure of financial instruments [Line Items]
Maximum exposure to credit risk of loans or receivables	75	80
Other [Member]
Disclosure of financial instruments [Line Items]
Maximum exposure to credit risk of loans or receivables	$ 20	$ 26

Financial Instruments and Risk Management (Credit Risk - Aging of Trade Receivables) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Gross [Member]
Disclosure of financial instruments [Line Items]
Trade receivables	$ 1,286	$ 1,389
Gross [Member] \| Not past due [Member]
Disclosure of financial instruments [Line Items]
Trade receivables	1,150	1,258
Gross [Member] \| Past due up to 3 months [Member]
Disclosure of financial instruments [Line Items]
Trade receivables	79	102
Gross [Member] \| Past due 3 to 12 months [Member]
Disclosure of financial instruments [Line Items]
Trade receivables	35	27
Gross [Member] \| Past due over 12 months [Member]
Disclosure of financial instruments [Line Items]
Trade receivables	22	2
Accumulated impairment [member]
Disclosure of financial instruments [Line Items]
Trade receivables	(26)	(13)
Accumulated impairment [member] \| Not past due [Member]
Disclosure of financial instruments [Line Items]
Trade receivables	1	(3)
Accumulated impairment [member] \| Past due up to 3 months [Member]
Disclosure of financial instruments [Line Items]
Trade receivables	(1)	(1)
Accumulated impairment [member] \| Past due 3 to 12 months [Member]
Disclosure of financial instruments [Line Items]
Trade receivables	(5)	(7)
Accumulated impairment [member] \| Past due over 12 months [Member]
Disclosure of financial instruments [Line Items]
Trade receivables	$ (21)	$ (2)

Financial Instruments and Risk Management (Credit Risk - Movement in the Allowance of Doubtful Accounts during the Year) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Disclosure of detailed information about financial instruments [abstract]
Balance at start of period	$ 13	$ 8
Additional allowance	16	5
Change due to translation differences	(3)	0
Balance at end of period	$ 26	$ 13

Financial Instruments and Risk Management (Liquidity Risk) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Disclosure of risk management strategy related to hedge accounting [Line Items]
Short term debt (not including current maturities)	$ 384	$ 858
Trade payables	1,002	912
Other current liabilities	879	783
Long-term debt, debentures and others	1,909	1,829
Not past due [Member] \| Non-derivative instruments [Member]
Disclosure of risk management strategy related to hedge accounting [Line Items]
Short term debt (not including current maturities)	276	283
Trade payables	1,002	912
Other current liabilities	156	180
Long-term debt, debentures and others	2,058	2,445
Non Derivative Financial Liabilities	3,492	3,820
Not past due [Member] \| Derivative instruments [Member]
Disclosure of risk management strategy related to hedge accounting [Line Items]
Derivatives financial liabilities	18	14
Not past due [Member] \| Foreign Exchange Derivative Designated As Economic Hedge Member \| Derivative instruments [Member]
Disclosure of risk management strategy related to hedge accounting [Line Items]
Derivatives financial liabilities	11	4
Not past due [Member] \| Foreign Exchange Derivative Designated As Cash Flow Hedge Member \| Derivative instruments [Member]
Disclosure of risk management strategy related to hedge accounting [Line Items]
Derivatives financial liabilities	7	10
12 months or less [Member] \| Non-derivative instruments [Member]
Disclosure of risk management strategy related to hedge accounting [Line Items]
Short term debt (not including current maturities)	282	300
Trade payables	1,002	912
Other current liabilities	156	180
Long-term debt, debentures and others	185	666
Non Derivative Financial Liabilities	1,625	2,058
12 months or less [Member] \| Derivative instruments [Member]
Disclosure of risk management strategy related to hedge accounting [Line Items]
Derivatives financial liabilities	14	7
12 months or less [Member] \| Foreign Exchange Derivative Designated As Economic Hedge Member \| Derivative instruments [Member]
Disclosure of risk management strategy related to hedge accounting [Line Items]
Derivatives financial liabilities	11	4
12 months or less [Member] \| Foreign Exchange Derivative Designated As Cash Flow Hedge Member \| Derivative instruments [Member]
Disclosure of risk management strategy related to hedge accounting [Line Items]
Derivatives financial liabilities	3	3
1-2 years [Member] \| Non-derivative instruments [Member]
Disclosure of risk management strategy related to hedge accounting [Line Items]
Short term debt (not including current maturities)	0	0
Trade payables	0	0
Other current liabilities	0	0
Long-term debt, debentures and others	546	599
Non Derivative Financial Liabilities	546	599
1-2 years [Member] \| Derivative instruments [Member]
Disclosure of risk management strategy related to hedge accounting [Line Items]
Derivatives financial liabilities	4	7
1-2 years [Member] \| Foreign Exchange Derivative Designated As Economic Hedge Member \| Derivative instruments [Member]
Disclosure of risk management strategy related to hedge accounting [Line Items]
Derivatives financial liabilities	0	0
1-2 years [Member] \| Foreign Exchange Derivative Designated As Cash Flow Hedge Member \| Derivative instruments [Member]
Disclosure of risk management strategy related to hedge accounting [Line Items]
Derivatives financial liabilities	4	7
3-5 years [Member] \| Non-derivative instruments [Member]
Disclosure of risk management strategy related to hedge accounting [Line Items]
Short term debt (not including current maturities)	0	0
Trade payables	0	0
Other current liabilities	0	0
Long-term debt, debentures and others	792	653
Non Derivative Financial Liabilities	792	653
3-5 years [Member] \| Derivative instruments [Member]
Disclosure of risk management strategy related to hedge accounting [Line Items]
Derivatives financial liabilities	0	0
3-5 years [Member] \| Foreign Exchange Derivative Designated As Economic Hedge Member \| Derivative instruments [Member]
Disclosure of risk management strategy related to hedge accounting [Line Items]
Derivatives financial liabilities	0	0
3-5 years [Member] \| Foreign Exchange Derivative Designated As Cash Flow Hedge Member \| Derivative instruments [Member]
Disclosure of risk management strategy related to hedge accounting [Line Items]
Derivatives financial liabilities	0	0
More than 5 years [Member] \| Non-derivative instruments [Member]
Disclosure of risk management strategy related to hedge accounting [Line Items]
Short term debt (not including current maturities)	0	0
Trade payables	0	0
Other current liabilities	0	0
Long-term debt, debentures and others	1,276	1,339
Non Derivative Financial Liabilities	1,276	1,339
More than 5 years [Member] \| Derivative instruments [Member]
Disclosure of risk management strategy related to hedge accounting [Line Items]
Derivatives financial liabilities	0	0
More than 5 years [Member] \| Foreign Exchange Derivative Designated As Economic Hedge Member \| Derivative instruments [Member]
Disclosure of risk management strategy related to hedge accounting [Line Items]
Derivatives financial liabilities	0	0
More than 5 years [Member] \| Foreign Exchange Derivative Designated As Cash Flow Hedge Member \| Derivative instruments [Member]
Disclosure of risk management strategy related to hedge accounting [Line Items]
Derivatives financial liabilities	$ 0	$ 0

Financial Instruments and Risk Management (Market Risk - Interest Rate Profile) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Fixed rate instruments [Member]
Disclosure of financial instruments by type of interest rate [Line Items]
Financial assets	$ 387	$ 387
Financial liabilities	(1,508)	(2,017)
Total financial instruments, net	(1,121)	(1,630)
Variable rate instruments [Member]
Disclosure of financial instruments by type of interest rate [Line Items]
Financial assets	49	49
Financial liabilities	(791)	(682)
Total financial instruments, net	$ (742)	$ (633)

The amount of assets that are: (a) cash; (b) an equity instrument of another entity; (c) a contractual right: (i) to receive cash or another financial asset from another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially favourable to the entity; or (d) a contract that will, or may be, settled in the entity’s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to receive a variable number of the entity’s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity’s own equity instruments. For this purpose the entity’s own equity instruments do not include puttable financial instruments classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity’s own equity instruments. [Refer: Classes of financial instruments [domain]; Financial liabilities]

The amount of liabilities that are: (a) a contractual obligation: (i) to deliver cash or another financial asset to another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavourable to the entity; or (b) a contract that will, or may be, settled in the entity’s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to deliver a variable number of the entity’s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity’s own equity instruments. For this purpose, rights, options or warrants to acquire a fixed number of the entity’s own equity instruments for a fixed amount of any currency are equity instruments if the entity offers the rights, options or warrants pro rata to all of its existing owners of the same class of its own non-derivative equity instruments. Also, for those purposes the entity’s own equity instruments do not include puttable financial instruments that are classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity’s own equity instruments. As an exception, an instrument that meets the definition of a financial liability is classified as an equity instrument if it has all the features and meets the conditions in paragraphs 16A-16B or paragraphs 16C-16D of IAS 32. [Refer: Classes of financial instruments [domain]; Financial assets; Derivatives [member]]

Disclosure of financial instruments [Line Items]

Financial Instruments and Risk Management (Market Risk - Sensitivity Analysis for Variable Rate Instruments) (Details) - Swap Contract From Fixed Ils To Fixed Usd Interest Ils [Member] $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)
Percentage Of Possible Changes Decrease 1 Percent [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	$ 14.8
Percentage Of Possible Changes Decrease Zero Dot Five Percent Member
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	7.0
Percentage Of Possible Changes Increase 0 Dot 5 Percent [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	(6.8)
Percentage Of Possible Changes Increase 1 Percent [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	$ (13.3)

Financial Instruments and Risk Management (Market Risk - Terms of Derivative Financial Instruments Used to Hedge Interest Risk) (Details) - Swap Contract From Fixed Ils To Fixed Usd Interest Ils [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Disclosure of detailed information about hedges [Line Items]
Carrying amount (fair value)	$ (3)	$ (5)
Stated amount	$ 206	$ 344
Maturity date (in years)	2025-2034	2024-2034
Interest rate range	2.4%	2.4-4.74%

Financial Instruments and Risk Management (Market risk - Sensitivity Analysis Non-derivative Financial Instruments) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Euro/ US Dollar [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	$ (54)	$ (82)
US Dollar/Israeli Shekel [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	73	70
US Dollar/British Pound [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	(1)	2
US Dollar/Brazilian Real risk [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	0	31
US Dollar/Chinese Yuan Renminbi [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	$ 0	$ 21

Financial Instruments and Risk Management (Market risk - Sensitivity Analysis) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
US Dollar/Euro [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	$ (54)	$ (82)
US Dollar/British Pound [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	(1)	2
US Dollar/Israeli Shekel [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	73	70
US Dollar/Brazilian Real risk [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	0	$ 31
Option contract [Member] \| US Dollar/Euro [Member] \| Percentage Of Possible Changes Increase 10 Percent [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	4
Option contract [Member] \| US Dollar/Euro [Member] \| Increase 5% [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	2
Option contract [Member] \| US Dollar/Euro [Member] \| Percentage Of Possible Changes Decrease 5 Percent [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	(2)
Option contract [Member] \| US Dollar/Euro [Member] \| Percentage Of Possible Changes Decrease 10 Percent [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	(3)
Option contract [Member] \| US Dollar/British Pound [Member] \| Percentage Of Possible Changes Increase 10 Percent [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	(3)
Option contract [Member] \| US Dollar/British Pound [Member] \| Increase 5% [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	(2)
Option contract [Member] \| US Dollar/British Pound [Member] \| Percentage Of Possible Changes Decrease 5 Percent [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	2
Option contract [Member] \| US Dollar/British Pound [Member] \| Percentage Of Possible Changes Decrease 10 Percent [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	4
Swap contract [Member] \| US Dollar/Israeli Shekel [Member] \| Percentage Of Possible Changes Increase 10 Percent [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	(17)
Swap contract [Member] \| US Dollar/Israeli Shekel [Member] \| Increase 5% [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	(9)
Swap contract [Member] \| US Dollar/Israeli Shekel [Member] \| Percentage Of Possible Changes Decrease 5 Percent [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	10
Swap contract [Member] \| US Dollar/Israeli Shekel [Member] \| Percentage Of Possible Changes Decrease 10 Percent [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	21
Forward contracts [Member] \| US Dollar/Euro [Member] \| Percentage Of Possible Changes Increase 10 Percent [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	18
Forward contracts [Member] \| US Dollar/Euro [Member] \| Increase 5% [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	9
Forward contracts [Member] \| US Dollar/Euro [Member] \| Percentage Of Possible Changes Decrease 5 Percent [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	(8)
Forward contracts [Member] \| US Dollar/Euro [Member] \| Percentage Of Possible Changes Decrease 10 Percent [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	(15)
Forward contracts [Member] \| US Dollar/Israeli Shekel [Member] \| Percentage Of Possible Changes Increase 10 Percent [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	(66)
Forward contracts [Member] \| US Dollar/Israeli Shekel [Member] \| Increase 5% [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	(34)
Forward contracts [Member] \| US Dollar/Israeli Shekel [Member] \| Percentage Of Possible Changes Decrease 5 Percent [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	40
Forward contracts [Member] \| US Dollar/Israeli Shekel [Member] \| Percentage Of Possible Changes Decrease 10 Percent [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	83
Forward contracts [Member] \| US Dollar/Brazilian Real risk [Member] \| Percentage Of Possible Changes Increase 10 Percent [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	1
Forward contracts [Member] \| US Dollar/Brazilian Real risk [Member] \| Increase 5% [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	1
Forward contracts [Member] \| US Dollar/Brazilian Real risk [Member] \| Percentage Of Possible Changes Decrease 5 Percent [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	(1)
Forward contracts [Member] \| US Dollar/Brazilian Real risk [Member] \| Percentage Of Possible Changes Decrease 10 Percent [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	(2)
Forward Transactions Hedge Accounting [Member] \| US Dollar/Israeli Shekel [Member] \| Percentage Of Possible Changes Increase 10 Percent [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	(31)
Forward Transactions Hedge Accounting [Member] \| US Dollar/Israeli Shekel [Member] \| Increase 5% [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	(17)
Forward Transactions Hedge Accounting [Member] \| US Dollar/Israeli Shekel [Member] \| Percentage Of Possible Changes Decrease 5 Percent [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	15
Forward Transactions Hedge Accounting [Member] \| US Dollar/Israeli Shekel [Member] \| Percentage Of Possible Changes Decrease 10 Percent [Member]
Disclosure of financial instruments [Line Items]
Impact on profit (loss)	$ 33

Financial Instruments and Risk Management (Market risk - Terms of Derivative Financial Instruments Used to Economically Hedge Foreign Currency Risk) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Put Option Contract [Member] \| Euro U.s Dollar [Member]
Disclosure of detailed information about hedges [Line Items]
Carrying amount	$ 1	$ 0
Stated amount	$ 40	$ 45
Average exchange rate	1.1	1.1
Put Option Contract [Member] \| US Dollar/British Pound [Member]
Disclosure of detailed information about hedges [Line Items]
Carrying amount	$ 0	$ 0
Stated amount	$ 12	$ 12
Average exchange rate	1.2	1.2
Put Option Contract [Member] \| US Dollar/Israeli Shekel [Member]
Disclosure of detailed information about hedges [Line Items]
Carrying amount	$ 0	$ 0
Stated amount	$ 0	$ 0
Average exchange rate	3.7	3.7
Put Option Contract [Member] \| US Dollar/Japanese Yen [Member]
Disclosure of detailed information about hedges [Line Items]
Carrying amount	$ 0	$ 0
Stated amount	$ 5	$ 5
Average exchange rate	152	140.7
Call Option Contract [Member] \| Euro U.s Dollar [Member]
Disclosure of detailed information about hedges [Line Items]
Carrying amount	$ 0	$ 0
Stated amount	$ 40	$ 45
Average exchange rate	1.1	1.1
Call Option Contract [Member] \| US Dollar/British Pound [Member]
Disclosure of detailed information about hedges [Line Items]
Carrying amount	$ 0	$ 0
Stated amount	$ 12	$ 12
Average exchange rate	1.2	1.2
Call Option Contract [Member] \| US Dollar/Israeli Shekel [Member]
Disclosure of detailed information about hedges [Line Items]
Carrying amount	$ 0	$ 0
Stated amount	$ 0	$ 0
Average exchange rate	3.7	3.7
Call Option Contract [Member] \| US Dollar/Japanese Yen [Member]
Disclosure of detailed information about hedges [Line Items]
Carrying amount	$ 0	$ 0
Stated amount	$ 5	$ 5
Average exchange rate	152	140.7
Swap contract [Member] \| US Dollar/Israeli Shekel [Member]
Disclosure of detailed information about hedges [Line Items]
Carrying amount	$ (3)	$ (5)
Stated amount	$ 206	$ 344
Average exchange rate	3.7	3.7
Forward contracts [Member] \| Euro U.s Dollar [Member]
Disclosure of detailed information about hedges [Line Items]
Carrying amount	$ 2	$ 5
Stated amount	$ 177	$ 12
Average exchange rate	1.1	1.1
Forward contracts [Member] \| US Dollar/British Pound [Member]
Disclosure of detailed information about hedges [Line Items]
Carrying amount	$ 0	$ 0
Stated amount	$ 8	$ 8
Average exchange rate	1.2	1.2
Forward contracts [Member] \| British Pound/Euro [Member]
Disclosure of detailed information about hedges [Line Items]
Carrying amount	$ 0
Stated amount	$ 115
Average exchange rate	1.2
Forward contracts [Member] \| US Dollar/Israeli Shekel [Member]
Disclosure of detailed information about hedges [Line Items]
Carrying amount	$ (1)	$ 35
Stated amount	$ 808	$ 735
Average exchange rate	3.7	3.7
Forward contracts [Member] \| US Dollar/Brazilian Real risk [Member]
Disclosure of detailed information about hedges [Line Items]
Carrying amount	$ 0	$ 0
Stated amount	$ 18	$ 14
Average exchange rate	6	5
Forward contracts [Member] \| Euro/Chinese Yuan Renminbi [Member]
Disclosure of detailed information about hedges [Line Items]
Carrying amount	$ 0	$ (1)
Stated amount	$ 14	$ 82
Average exchange rate	7.7	7.7
Forward contracts [Member] \| Other [Member]
Disclosure of detailed information about hedges [Line Items]
Carrying amount	$ 0	$ 0
Stated amount	$ 12	$ 54
Average exchange rate	0	293.9
Forward Transactions Hedge Accounting [Member] \| US Dollar/Israeli Shekel [Member]
Disclosure of detailed information about hedges [Line Items]
Carrying amount	$ 2	$ 6
Stated amount	$ 320	$ 345
Average exchange rate	3.7	3.7

Financial Instruments and Risk Management (Market risk - Linkage Terms of Monetary Balances) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	$ (2)	$ 80
Total financial assets [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	1,755	2,084
Ifrs Cash And Cash Equivalents Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	327	420
Short term investments and deposits [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	115	172
Trade receivables [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	1,260	1,376
Other receivables [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	33	94
Other non-current assets [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	20	22
Total financial liabilities [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	3,492	3,820
Short-term debt [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	384	858
Trade payables [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	1,002	912
Other Current Liability [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	156	180
Long term debt, debentures and others [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	1,909	1,829
Other Non Current Liabilities Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	41	41
US Dollar risk[Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	(494)	(704)
US Dollar risk[Member] \| Total financial assets [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	717	824
US Dollar risk[Member] \| Ifrs Cash And Cash Equivalents Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	55	78
US Dollar risk[Member] \| Short term investments and deposits [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	108	163
US Dollar risk[Member] \| Trade receivables [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	545	523
US Dollar risk[Member] \| Other receivables [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	0	50
US Dollar risk[Member] \| Other non-current assets [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	9	10
US Dollar risk[Member] \| Total financial liabilities [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	1,211	1,528
US Dollar risk[Member] \| Short-term debt [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	163	483
US Dollar risk[Member] \| Trade payables [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	196	194
US Dollar risk[Member] \| Other Current Liability [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	43	42
US Dollar risk[Member] \| Long term debt, debentures and others [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	802	808
US Dollar risk[Member] \| Other Non Current Liabilities Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	7	1
Euro Currency Risk [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	(733)	(823)
Euro Currency Risk [Member] \| Total financial assets [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	268	298
Euro Currency Risk [Member] \| Ifrs Cash And Cash Equivalents Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	20	10
Euro Currency Risk [Member] \| Short term investments and deposits [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	1	1
Euro Currency Risk [Member] \| Trade receivables [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	224	261
Euro Currency Risk [Member] \| Other receivables [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	18	22
Euro Currency Risk [Member] \| Other non-current assets [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	5	4
Euro Currency Risk [Member] \| Total financial liabilities [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	1,218	1,178
Euro Currency Risk [Member] \| Short-term debt [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	148	143
Euro Currency Risk [Member] \| Trade payables [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	201	225
Euro Currency Risk [Member] \| Other Current Liability [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	52	82
Euro Currency Risk [Member] \| Long term debt, debentures and others [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	784	689
Euro Currency Risk [Member] \| Other Non Current Liabilities Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	33	39
Gbp Currency Risk Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	20	22
Gbp Currency Risk Member \| Total financial assets [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	50	74
Gbp Currency Risk Member \| Ifrs Cash And Cash Equivalents Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	9	15
Gbp Currency Risk Member \| Short term investments and deposits [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	0	0
Gbp Currency Risk Member \| Trade receivables [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	39	58
Gbp Currency Risk Member \| Other receivables [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	2	1
Gbp Currency Risk Member \| Other non-current assets [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	0	0
Gbp Currency Risk Member \| Total financial liabilities [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	50	72
Gbp Currency Risk Member \| Short-term debt [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	12	24
Gbp Currency Risk Member \| Trade payables [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	24	33
Gbp Currency Risk Member \| Other Current Liability [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	6	3
Gbp Currency Risk Member \| Long term debt, debentures and others [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	8	12
Gbp Currency Risk Member \| Other Non Current Liabilities Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	0	0
Nis Currency Risk Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	613	704
Nis Currency Risk Member \| Total financial assets [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	44	83
Nis Currency Risk Member \| Ifrs Cash And Cash Equivalents Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	2	2
Nis Currency Risk Member \| Short term investments and deposits [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	0	0
Nis Currency Risk Member \| Trade receivables [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	37	66
Nis Currency Risk Member \| Other receivables [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	4	14
Nis Currency Risk Member \| Other non-current assets [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	1	1
Nis Currency Risk Member \| Total financial liabilities [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	765	803
Nis Currency Risk Member \| Short-term debt [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	50	199
Nis Currency Risk Member \| Trade payables [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	408	308
Nis Currency Risk Member \| Other Current Liability [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	32	27
Nis Currency Risk Member \| Long term debt, debentures and others [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	275	269
Nis Currency Risk Member \| Other Non Current Liabilities Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	0	0
BRL Currency Risk Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	259	311
BRL Currency Risk Member \| Total financial assets [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	376	428
BRL Currency Risk Member \| Ifrs Cash And Cash Equivalents Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	69	65
BRL Currency Risk Member \| Short term investments and deposits [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	0	0
BRL Currency Risk Member \| Trade receivables [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	297	355
BRL Currency Risk Member \| Other receivables [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	5	1
BRL Currency Risk Member \| Other non-current assets [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	5	7
BRL Currency Risk Member \| Total financial liabilities [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	135	131
BRL Currency Risk Member \| Short-term debt [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	6	6
BRL Currency Risk Member \| Trade payables [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	103	91
BRL Currency Risk Member \| Other Current Liability [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	13	14
BRL Currency Risk Member \| Long term debt, debentures and others [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	13	19
BRL Currency Risk Member \| Other Non Current Liabilities Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	0	1
Rmb Currency Risk [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	141	215
Rmb Currency Risk [Member] \| Total financial assets [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	238	314
Rmb Currency Risk [Member] \| Ifrs Cash And Cash Equivalents Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	151	230
Rmb Currency Risk [Member] \| Short term investments and deposits [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	6	5
Rmb Currency Risk [Member] \| Trade receivables [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	81	78
Rmb Currency Risk [Member] \| Other receivables [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	0	1
Rmb Currency Risk [Member] \| Other non-current assets [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	0	0
Rmb Currency Risk [Member] \| Total financial liabilities [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	97	99
Rmb Currency Risk [Member] \| Short-term debt [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	3	3
Rmb Currency Risk [Member] \| Trade payables [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	61	57
Rmb Currency Risk [Member] \| Other Current Liability [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	9	11
Rmb Currency Risk [Member] \| Long term debt, debentures and others [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	24	28
Rmb Currency Risk [Member] \| Other Non Current Liabilities Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	0	0
Other [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	192	195
Other [Member] \| Total financial assets [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	62	63
Other [Member] \| Ifrs Cash And Cash Equivalents Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	21	20
Other [Member] \| Short term investments and deposits [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	0	3
Other [Member] \| Trade receivables [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	37	35
Other [Member] \| Other receivables [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	4	5
Other [Member] \| Other non-current assets [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	0	0
Other [Member] \| Total financial liabilities [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	16	9
Other [Member] \| Short-term debt [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	2	0
Other [Member] \| Trade payables [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	9	4
Other [Member] \| Other Current Liability [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	1	1
Other [Member] \| Long term debt, debentures and others [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	3	4
Other [Member] \| Other Non Current Liabilities Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	1	0
Non-derivative instruments [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	(1,737)	(1,736)
Non-derivative instruments [Member] \| US Dollar risk[Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	(494)	(704)
Non-derivative instruments [Member] \| Euro Currency Risk [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	(950)	(880)
Non-derivative instruments [Member] \| Gbp Currency Risk Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	0	2
Non-derivative instruments [Member] \| Nis Currency Risk Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	(721)	(720)
Non-derivative instruments [Member] \| BRL Currency Risk Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	241	297
Non-derivative instruments [Member] \| Rmb Currency Risk [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	141	215
Non-derivative instruments [Member] \| Other [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	46	54
Derivative instruments [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	1,735	1,656
Derivative instruments [Member] \| US Dollar risk[Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	0	0
Derivative instruments [Member] \| Euro Currency Risk [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	217	57
Derivative instruments [Member] \| Gbp Currency Risk Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	20	20
Derivative instruments [Member] \| Nis Currency Risk Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	1,334	1,424
Derivative instruments [Member] \| BRL Currency Risk Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	18	14
Derivative instruments [Member] \| Rmb Currency Risk [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	0	0
Derivative instruments [Member] \| Other [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	146	141
Swap Usd To Ils [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	206	344
Swap Usd To Ils [Member] \| US Dollar risk[Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	0	0
Swap Usd To Ils [Member] \| Euro Currency Risk [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	0	0
Swap Usd To Ils [Member] \| Gbp Currency Risk Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	0	0
Swap Usd To Ils [Member] \| Nis Currency Risk Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	206	344
Swap Usd To Ils [Member] \| BRL Currency Risk Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	0	0
Swap Usd To Ils [Member] \| Rmb Currency Risk [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	0	0
Swap Usd To Ils [Member] \| Other [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	0	0
Cylinder instruments [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	57	62
Cylinder instruments [Member] \| US Dollar risk[Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	0	0
Cylinder instruments [Member] \| Euro Currency Risk [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	40	45
Cylinder instruments [Member] \| Gbp Currency Risk Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	12	12
Cylinder instruments [Member] \| Nis Currency Risk Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	0	0
Cylinder instruments [Member] \| BRL Currency Risk Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	0	0
Cylinder instruments [Member] \| Rmb Currency Risk [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	0	0
Cylinder instruments [Member] \| Other [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	5	5
Forward Transactions Hedge Accounting [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	320	345
Forward Transactions Hedge Accounting [Member] \| US Dollar risk[Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	0	0
Forward Transactions Hedge Accounting [Member] \| Euro Currency Risk [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	0	0
Forward Transactions Hedge Accounting [Member] \| Gbp Currency Risk Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	0	0
Forward Transactions Hedge Accounting [Member] \| Nis Currency Risk Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	320	345
Forward Transactions Hedge Accounting [Member] \| BRL Currency Risk Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	0	0
Forward Transactions Hedge Accounting [Member] \| Rmb Currency Risk [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	0	0
Forward Transactions Hedge Accounting [Member] \| Other [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	0	0
Forward contracts [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	1,152	905
Forward contracts [Member] \| US Dollar risk[Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	0	0
Forward contracts [Member] \| Euro Currency Risk [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	177	12
Forward contracts [Member] \| Gbp Currency Risk Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	8	8
Forward contracts [Member] \| Nis Currency Risk Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	808	735
Forward contracts [Member] \| BRL Currency Risk Member
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	18	14
Forward contracts [Member] \| Rmb Currency Risk [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	0	0
Forward contracts [Member] \| Other [Member]
Disclosure of financial instruments [Line Items]
Exposure on monetary balances	$ 141	$ 136

Financial Instruments and Risk Management (Fair Value of Financial Instruments) (Details) - USD ($)
$ in Millions

Dec. 31, 2024

Dec. 31, 2023

Carrying amount [Member]

Loans bearing fixed interest

^[1]

$ 287

$ 337

Carrying amount [Member] | Marketable [Member]

1,243

1,741

Disclosure of financial instruments [Line Items]

Carrying amount [Member] | Non marketable [Member]

^[2]

909

1,208

Disclosure of financial instruments [Line Items]

Disclosure of financial instruments [Line Items]

^[3]

47

196

Fair value [Member]

Loans bearing fixed interest

^[1]

271

306

Fair value [Member] | Marketable [Member]

1,163

1,618

Disclosure of financial instruments [Line Items]

Fair value [Member] | Non marketable [Member]

^[2]

845

1,118

Disclosure of financial instruments [Line Items]