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Consolidated Statement of Changes in Equity - GBP (£)
£ in Millions
Share capital
Share premium
Other reserves
Retained earnings
Non-controlling interests
Total
Beginning balance at Dec. 31, 2019 £ 18 £ 7 £ (1,868) £ 2,844 £ 1 £ 1,002
Profit for the year       186   186
Other comprehensive income:            
Net exchange adjustments offset in reserves     (35)     (35)
Net (loss)/gain on net investment hedge     (17)     (17)
Net gain (loss) on cash flow hedge [2]     (5) [1]     (5)
Cost of hedging     (1)     (1)
Remeasurement of net defined benefit liability       (13)   (13)
Tax related to items taken directly to other comprehensive income       4   4
Total comprehensive income for the year     (58) 177   119
Transactions with owners:            
Cost of equity-settled share-based payment plans       6   6
Tax related to items taken directly to equity       3   3
Movement in the carrying value of put options       1   1
Ending balance at Dec. 31, 2020 18 7 (1,926) 3,031 1 1,131
Profit for the year       263   263
Other comprehensive income:            
Net exchange adjustments offset in reserves     (18)     (18)
Net (loss)/gain on net investment hedge     15     15
Net gain (loss) on cash flow hedge [2]     13 [1]     13
Cost of hedging     (1)     (1)
Remeasurement of net defined benefit liability       1   1
Transfer between reserves     (10) 10    
Tax related to items taken directly to other comprehensive income       2   2
Total comprehensive income for the year     (1) 276   275
Transactions with owners:            
Shares issued in the year 1     (1)    
Acquisition of non-controlling interests       (8) (2) (10)
Dividends paid to equity shareholders       (139)   (139)
Cost of equity-settled share-based payment plans       10   10
Tax related to items taken directly to equity       5   5
Movement in the carrying value of put options       (8)   (8)
Ending balance at Dec. 31, 2021 19 7 (1,927) 3,166 (1) 1,264
Profit for the year       232   232
Other comprehensive income:            
Net exchange adjustments offset in reserves     (232)     (232)
Net (loss)/gain on net investment hedge     (68)     (68)
Net gain (loss) on cash flow hedge [2]     (6) [1]     (6)
Cost of hedging     (2)     (2)
Remeasurement of net defined benefit liability       2   2
Tax related to items taken directly to other comprehensive income       11   11
Total comprehensive income for the year     (308) 245   (63)
Transactions with owners:            
Shares issued in the year 6         6
Merger relief on acquisition of Terminix Global Holdings, Inc.     3,014     3,014
Gain on stock options   2       2
Cost of issuing new shares     (16)     (16)
Dividends paid to equity shareholders       (122)   (122)
Cost of equity-settled share-based payment plans       18   18
Tax related to items taken directly to equity       (2)   (2)
Movement in the carrying value of put options       (3)   (3)
Ending balance at Dec. 31, 2022 £ 25 £ 9 £ 763 £ 3,302 £ (1) £ 4,098
[1] £6m net loss (2021: £13m net gain: 2020: £5m net loss) on cash flow hedge includes £137m gain (2021: £15m loss; 2020: £15m gain) from the effective portion of changes in fair value offset by reclassification to the cost of acquisition of £118m gain (2021: £nil; 2020: £nil) and reclassification to the income statement of £25m gain (2021: £28m loss; 2020: £20m gain) due to changes in foreign exchange rates.
[2] £6m net loss (2021: £13m net gain; 2020: £5m net loss) on cash flow hedge includes £137m gain (2021: £15m loss; 2020: £15m gain) from the effective portion of changes in fair value offset by reclassification to the cost of acquisition of £118m gain (2021: £nil; 2020: £nil) and reclassification to the income statement of £25m gain (2021: £28m loss; 2020: £20m gain) due to changes in foreign exchange rates.