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Share Plans (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Movement in Number of Shares Held by ESOP Trustees
In millions
At January 1, 2021$(1.4)
Utilization of ESOP shares0.3 
At December 31, 2021(1.1)
Utilization of ESOP shares0.1 
At December 31, 2022$(1.0)
The change in the number of shares held by the Trustees of the ESOP and the number of share options held over those shares are shown below:
Number of shares held by ESOP Trustees
£0.0001 deferred shares
£0.50 ordinary shares
At January 1, 202215,977,968,688 838,558 
Shares utilized during the year— (117,297)
Shares sold from the ESOP during the year(15,977,968,688)— 
At December 31, 2022 721,261 
Schedule of Share-based Compensation Expense
Total share-based compensation expense for 2022, 2021 and 2020 was as follows:
Years ended December 31,
In millions202220212020
Total share-based compensation charges$2.5 $2.8 $2.8 
Share-based Compensation, Stock Options, Activity
The following tables illustrates the number of, and movements in, share options during the year, with each option relating to one ordinary share:
Number of sharesWeighted- average exercise priceWeighted- average remaining contractual life (years)Aggregate intrinsic value ($M)
At January 1, 2022547,522 $0.99 2.2$10.6 
Granted during the year472,695 $1.00 
Exercised during the year(173,017)$0.98 
Accrued dividend awards8,829 $1.00 
Lapsed during the year(276,876)$0.96 
At December 31, 2022579,153 $1.00 3.0$8.0 
Options exercisable at December 31, 20229,862 $1.00 3.3$0.1 
Options expected to vest as of December 31, 2022434,548 $1.00 3.0$6.0 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The following table illustrates the assumptions used in deriving the fair value of share options during the year:
202220212020
Dividend yield (%)
2.75 - 3.41
2.27
3.39 - 4.09
Expected volatility range (%)
36.11 - 49.43
42.80 - 59.03
36.48 - 56.28
Risk-free interest rate (%)
1.28 - 2.99
0.04 - 0.24
0.18 - 0.49
Expected life of share options range (years)
0.50 - 4.00
0.50 - 4.00
0.50 - 4.00
Forfeiture rate (%)5.00 5.00 5.00 
Weighted average exercise price ($)$1.00$1.00$1.00
Models usedBlack-Scholes & Monte-CarloBlack-Scholes & Monte-CarloBlack-Scholes & Monte-Carlo