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Leases (Tables)

12 Months Ended

Dec. 31, 2024

Leases

Schedule of right of use assets


		Land and				Other
		buildings		Vehicles		equipment		Total
		£m		£m		£m		£m
Net book value
At 1 January 2023		182		266		1		449
Exchange differences		(8)		(11)		—		(19)
Additions		63		91		1		155
Disposals		(3)		(3)		—		(6)
Acquisition of companies and businesses		1		—		—		1
Depreciation charge		(57)		(62)		(1)		(120)
Reclassification to property, plant and equipment¹		—		(8)		—		(8)
At 31 December 2023		178		273		1		452

At 1 January 2024		178		273		1		452
Exchange differences		(2)		—		—		(2)
Additions		61		83		—		144
Disposals		(2)		(4)		—		(6)
Acquisition of companies and businesses		4		—		—		4
Depreciation charge		(57)		(65)		(1)		(123)
Reclassification to property, plant and equipment¹		—		(8)		—		(8)
At 31 December 2024		182		279		—		461

1.	Certain leased assets become owned assets at the end of their lease period and are therefore reclassified to property, plant and equipment (Note B3).

Schedule of lease liabilities


		2024		2023
		£m		£m
At 1 January		445		460
Exchange differences		(1)		(20)
Lease payments		(169)		(182)
Interest		24		25
Additions		142		161
Acquisition of companies and businesses		4		1
At 31 December		445		445
Analysed as follows:
Non-current		315		318
Current		130		127
Total		445		445

Schedule of lease liabilities analysed by currency


		2024		2023
		£m		£m
Pound sterling		43		34
Euro		75		63
US dollar		267		289
Other currencies		60		59
At 31 December		445		445

Schedule of maturities of lease liabilities


		2024		2023
		£m		£m
Less than one year		150		146
Between one and five years		289		298
More than five years		65		72
Future minimum payments		504		516
Effect of discounting		(59)		(71)
Carrying value		445		445

Schedule of other lease cost


		2024		2023
		£m		£m
Expenses relating to short-term leases		25		14
Expenses relating to leases of low-value assets		5		8
Expenses relating to variable lease payments		3		2
At 31 December		33		24