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Derivative financial instruments (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Net investment hedge |
Derivative financial instruments |
Summary of hedge accounting | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2022
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Weighted
​ | ​ | ​ | ​ | Carrying | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Change in | ​ | ​ | ​ | ​ | ​ | average
​ | ​ | ​ | ​ | amount | ​ | ​ | ​ | ​ | ​ | ​ | ​ | fair value of | ​ | Change in | ​ | ​ | ​ | foreign
​ | ​ | ​ | ​ | at year | ​ | Notional | ​ | ​ | ​ | ​ | ​ | outstanding | ​ | fair value of | ​ | ​ | ​ | exchange
​ | ​ | ​ | ​ | end date | ​ | amount | ​ | ​ | ​ | Hedge | ​ | instrument | ​ | hedged item | ​ | Ineffectiveness | ​ | rate for the
Hedging instruments |  | Currency |  | £m |  | £m |  | Maturity date |  | ratio |  | £m |  | £m |  | £m |  | year
Cross-currency swaps | ​ | USD | ​ | (105) | ​ | 1,728 | ​ | November 2024 – October 2028 | ​ | 1:1 | ​ | (109) | ​ | (108) | ​ | (1) | ​ | 1.250
Cross-currency swaps | ​ | JPY | ​ | — | ​ | 12 | ​ | November 2024 | ​ | 1:1 | ​ | — | ​ | — | ​ | — | ​ | 137.071
Bonds |  | EUR |  | (510) |  | (510) |  | June 2027 – June 2030 |  | 1:1 |  | (22) |  | (22) |  | — |  | 1.154
Term loan |  | USD |  | (579) |  | (579) |  | October 2025 |  | 1:1 |  | 60 |  | 60 |  | — |  | 1.152
Overdraft |  | AUD |  | (5) | ​ | (5) | ​ | n/a | ​ | 1:1 | ​ | — | ​ | — | ​ | — | ​ | 1.819
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2021
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Weighted
​ | ​ | ​ | ​ | Carrying | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Change in | ​ | ​ | ​ | ​ | ​ | average
​ | ​ | ​ | ​ | amount | ​ | ​ | ​ | ​ | ​ | ​ | ​ | fair value of | ​ | Change in | ​ | ​ | ​ | foreign
​ | ​ | ​ | ​ | at year | ​ | Notional | ​ | ​ | ​ | ​ | ​ | outstanding | ​ | fair value of | ​ | ​ | ​ | exchange
​ | ​ | ​ | ​ | end date | ​ | amount | ​ | ​ | ​ | Hedge | ​ | instrument | ​ | hedged item | ​ | Ineffectiveness | ​ | rate for the
Hedging instruments |  | Currency |  | £m |  | £m |  | Maturity date |  | ratio |  | £m |  | £m |  | £m |  | year
Cross-currency swaps | ​ | USD | ​ | 2 | ​ | 596 | ​ | November 2024 – October 2028 | ​ | 1:1 | ​ | (16) | ​ | (18) | ​ | 2 | ​ | 1.296
Cross-currency swaps |  | JPY |  | 1 |  | 8 |  | November 2022 |  | 1:1 |  | 1 |  | 1 |  | — |  | 134.326
Bonds |  | EUR |  | (463) |  | (464) |  | November 2024 – October 2028 |  | 1:1 |  | 28 |  | 28 |  | — |  | 1.147
Overdraft |  | AUD |  | (5) |  | (5) |  | n/a |  | 1:1 |  | — |  | — |  | — |  | 1.857
​
Cash flow hedge |
Derivative financial instruments |
Summary of hedge accounting | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2022
​ |  | ​ |  | ​ |  | ​ |  | ​ |  | ​ |  | ​ |  | Cumulative |  | ​ |  | ​
​ | ​ | ​ | ​ | Carrying | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Change in | ​ | change in | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | amount | ​ | ​ | ​ | ​ | ​ | ​ | ​ | fair value of | ​ | fair value of | ​ | ​ | ​ | Weighted
​ | ​ | ​ | ​ | at year | ​ | Notional | ​ | ​ | ​ | ​ | ​ | outstanding | ​ | hedged | ​ | ​ | ​ | average
​ | ​ | ​ | ​ | end date | ​ | amount | ​ | ​ | ​ | ​ | ​ | instrument | ​ | item | ​ | Ineffectiveness | ​ | rate for the
Hedging instruments | ​ | Currency | ​ | £m | ​ | £m | ​ | Maturity date | ​ | Hedge ratio | ​ | £m | ​ | £m | ​ | £m | ​ | year
Cross-currency swaps | ​ | EUR | ​ | 34 | ​ | 1,700 | ​ | November 2024 – October 2028 | ​ | 1:1 | ​ | 60 | ​ | 61 | ​ | (1) | ​ | 1.150
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2021
​ |  | ​ |  | ​ |  | ​ |  | ​ |  | ​ |  | ​ |  | Cumulative |  | ​ |  | ​
​ | ​ | ​ | ​ | Carrying | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Change in | ​ | change in | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | amount | ​ | ​ | ​ | ​ | ​ | ​ | ​ | fair value of | ​ | fair value of | ​ | ​ | ​ | Weighted
​ | ​ | ​ | ​ | at year | ​ | Notional | ​ | ​ | ​ | ​ | ​ | outstanding | ​ | hedged | ​ | ​ | ​ | average
​ | ​ | ​ | ​ | end date | ​ | amount | ​ | ​ | ​ | ​ | ​ | instrument | ​ | item | ​ | Ineffectiveness | ​ | rate for the
Hedging instruments | ​ | Currency | ​ | £m | ​ | £m | ​ | Maturity date | ​ | Hedge ratio | ​ | £m | ​ | £m | ​ | £m | ​ | year
Cross-currency swaps | ​ | EUR | ​ | (25) | ​ | 695 | ​ | November 2024 – October 2028 | ​ | 1:1 | ​ | (24) | ​ | (23) | ​ | (1) | ​ | 1.131
​

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