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v3.23.1

Net debt - Borrowings (Details) - GBP (£) £ in Millions | Dec. 31, 2022 | Dec. 31, 2021
--- | --- | ---
Net debt |  |
Carrying value | £ 5,000 | £ 1,738
Fair value component of derivatives and interest | 567 | 9
Undiscounted value | 5,567 | 1,747
Pound sterling |  |
Net debt |  |
Carrying value | 1,727 | 48
Euro |  |
Net debt |  |
Carrying value | 927 | 856
US dollar |  |
Net debt |  |
Carrying value | 2,322 | 783
Other currencies |  |
Net debt |  |
Carrying value | 24 | 51
Less than one year |  |
Net debt |  |
Undiscounted value | 1,435 | 450
Between one and five years |  |
Net debt |  |
Undiscounted value | 3,075 | 788
More than five years |  |
Net debt |  |
Undiscounted value | £ 1,057 | £ 509

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