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Financial Instruments Fair Value Risk (Tables)
 12 Months Ended
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