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v3.25.1

Net debt - Borrowings (Details) - GBP (£) £ in Millions | Dec. 31, 2024 | Dec. 31, 2023
--- | --- | ---
Net debt |  |
Carrying value | £ 3,690 | £ 4,264
Effect of discounting | 387 | 525
Undiscounted value | 4,077 | 4,789
Pound sterling |  |
Net debt |  |
Carrying value | 921 | 1,075
Euro |  |
Net debt |  |
Carrying value | 873 | 934
US dollar |  |
Net debt |  |
Carrying value | 1,887 | 2,212
Other currencies |  |
Net debt |  |
Carrying value | 9 | 43
Less than one year |  |
Net debt |  |
Undiscounted value | 1,251 | 1,185
Between 1 and 5 years |  |
Net debt |  |
Undiscounted value | 1,848 | 2,601
More than five years |  |
Net debt |  |
Undiscounted value | £ 978 | £ 1,003

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