XML 279 R5.htm IDEA: XBRL DOCUMENT v3.24.1
Consolidated Statement of Changes in Equity - GBP (£)
£ in Millions
Share capital
Adjusted balance as at 1 January 2023
IFRS 17
Share capital
Share premium
Adjusted balance as at 1 January 2023
IFRS 17
Share premium
Other reserves
Adjusted balance as at 1 January 2023
IFRS 17
Other reserves
Retained earnings
Adjustment on initial application of IFRS 17
IFRS 17
Retained earnings
Adjusted balance as at 1 January 2023
IFRS 17
Retained earnings
Non-controlling interests
Adjusted balance as at 1 January 2023
IFRS 17
Non-controlling interests
Adjustment on initial application of IFRS 17
IFRS 17
Adjusted balance as at 1 January 2023
IFRS 17
Total
Beginning 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 gain/(loss) 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 gain/(loss) 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 25 £ 9 9 £ 763 763 £ (1) £ 3,301 3,302 £ (1) (1) £ (1) £ 4,097 4,098
Profit for the year                 381         381
Other comprehensive income:                            
Net exchange adjustments offset in reserves           (352)               (352)
Net gain/(loss) on net investment hedge           109               109
Net gain (loss) on cash flow hedge [2]           3 [1]               3
Cost of hedging           9               9
Tax related to items taken directly to other comprehensive income                 6         6
Total comprehensive income for the year           (231)     387         156
Transactions with owners:                            
Gain on stock options       5                   5
Dividends paid to equity shareholders                 (201)         (201)
Cost of equity-settled share-based payment plans                 27         27
Movement in the carrying value of put options                 4         4
Ending balance at Dec. 31, 2023   £ 25   £ 14   £ 532     £ 3,518   £ (1)     £ 4,088
[1] £3m net gain (2022 £6m net loss; 2021: £13m net gain) on cash flow hedge includes £28m loss (2022: £137m gain; 2021: £15m loss) from the effective portion of changes in fair value offset by reclassification to the cost of acquisition of £nil (2022: £118m gain; 2021: £nil) and reclassification to the income statement of £31m loss (2022: £25m gain; 2021: £28m loss) due to changes in foreign exchange rates.
[2] £3m net gain (2022 £6m net loss; 2021: £13m net gain) on cash flow hedge includes £28m loss (2022: £137m gain; 2021: £15m loss) from the effective portion of changes in fair value offset by reclassification to the cost of acquisition of £nil (2022: £118m gain; 2021: £nil) and reclassification to the income statement of £31m loss (2022: £25m gain; 2021: £28m loss) due to changes in foreign exchange rates.