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Financial Instruments Fair Value Risk (Tables) | 12 Months Ended
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Dec. 31, 2020
Text Block [Abstract] |
Summary of Fair Values of Financial Assets and Financial Liabilities | The Group is exposed to the risks of changes in fair value of its financial assets and liabilities. The following table summarises the fair values and carrying amounts of financial instruments.
|  |  |  |  |  |  |  | € million |  |  | € million |
|  | € million |  |  | € million |  |  | Carrying |  |  | Carrying |
|  | Fair value |  |  | Fair value |  |  | amount |  |  | amount |
Fair values of financial assets and financial liabilities |  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Financial assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  | 5,548 |  |  |  | 4,185 |  |  |  | 5,548 |  |  |  | 4,185 |
Financial assets at amortised cost |  |  | 606 |  |  |  | 798 |  |  |  | 606 |  |  |  | 798 |
Financial assets at fair value through other comprehensive income |  |  | 370 |  |  |  | 266 |  |  |  | 370 |  |  |  | 266 |
Financial assets at fair value through profit or loss: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  | 80 |  |  |  | 134 |  |  |  | 80 |  |  |  | 134 |
Other |  |  | 628 |  |  |  | 583 |  |  |  | 628 |  |  |  | 583 |
|  |  | 7,232 |  |  |  | 5,966 |  |  |  | 7,232 |  |  |  | 5,966 |
Financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Bank loans and overdrafts |  |  | (411 | ) |  |  | (853 | ) |  |  | (411 | ) |  |  | (853 | )
Bonds and other loans |  |  | (26,936 | ) |  |  | (26,525 | ) |  |  | (24,585 | ) |  |  | (25,032 | )
Lease liabilities |  |  | (1,771 | ) |  |  | (1,919 | ) |  |  | (1,771 | ) |  |  | (1,919 | )
Derivatives |  |  | (315 | ) |  |  | (270 | ) |  |  | (315 | ) |  |  | (270 | )
Other financial liabilities |  |  | (223 | ) |  |  | (183 | ) |  |  | (223 | ) |  |  | (183 | )
|  |  | (29,656 | ) |  |  | (29,750 | ) |  |  | (27,305 | ) |  |  | (28,257 | )
Summary of Assets and Liabilities Carried at Fair Value, Classification of Fair Value Calculations by Category | For assets and liabilities which are carried at fair value, the classification of fair value calculations by category is summarised below:
|  |  |  |  | € million |  |  | € million |  |  | € million |  |  | € million |  |  | € million |  |  | € million |  |  | € million |  |  | € million |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Total fair |  |  | Total fair |
|  |  |  |  | Level 1 |  |  | Level 1 |  |  | Level 2 |  |  | Level 2 |  |  | Level 3 |  |  | Level 3 |  |  | value |  |  | value |
|  | Notes |  |  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Assets at fair value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial assets at fair value through other comprehensive income |  |  | 17A |  |  |  | 5 |  |  |  | 7 |  |  |  | 3 |  |  |  | 4 |  |  |  | 362 |  |  |  | 255 |  |  |  | 370 |  |  |  | 266 |
Financial assets at fair value through profit or loss: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives (a) |  |  | 16C |  |  |  | — |  |  |  | — |  |  |  | 158 |  |  |  | 208 |  |  |  | — |  |  |  | — |  |  |  | 158 |  |  |  | 208 |
Other |  |  | 17A |  |  |  | 300 |  |  |  | 311 |  |  |  | — |  |  |  | — |  |  |  | 328 |  |  |  | 272 |  |  |  | 628 |  |  |  | 583 |
Liabilities at fair value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives (b) |  |  | 16C |  |  |  | — |  |  |  | — |  |  |  | (418 | ) |  |  | (326 | ) |  |  | — |  |  |  | — |  |  |  | (418 | ) |  |  | (326 | )
Contingent consideration |  |  | 14 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (140 | ) |  |  | (154 | ) |  |  | (140 | ) |  |  | (154 | )
(a) | Includes €78 million (2019: €74 million) derivatives, reported within trade receivables, that hedge trading activities.
(b) | Includes €(103) million (2019: €(56) million) derivatives, reported within trade payables, that hedge trading activities.
Summary of Reconciliation of Movements in Level 3 Valuations |
|  | € million |  |  | € million |
Reconciliation of movements in Level 3 valuations |  | 2020 |  |  | 2019 |
1 January |  |  | 373 |  |  |  | 241 |
Gains and losses recognised in income statement |  |  | (22 | ) |  |  | (9 | )
Gains and losses recognised in other comprehensive income |  |  | 75 |  |  |  | 43 |
Purchases and new issues |  |  | 41 |  |  |  | 83 |
Sales and settlements |  |  | 83 |  |  |  | 15 |
31 December |  |  | 550 |  |  |  | 373 |

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