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Taxation

6 Months Ended

Jun. 30, 2024

Income taxes paid (refund) [abstract]

Taxation

4.Taxation

The effective tax rate for the first half is 28.6% compared with 26.9% in 2023. The tax rate is calculated by dividing the tax charge by pre-tax profit excluding the contribution of joint ventures and associates.

Tax effects of components of other comprehensive income were as follows:

			First half
			2024									2023
€ million			Before tax			Tax (charge)/credit			After tax			Before tax			Tax (charge)/credit			After tax
Gains/(losses) on:
Equity instruments at fair value through other comprehensive income			31			–			31			(34)			–			(34)
Cash flow hedges			63			(5)			58			(20)			(2)			(22)
Remeasurements of defined benefit pension plans			242			(41)			201			(90)			43			(47)
Currency retranslation gains/(losses)			772			(16)			756			(535)			(20)			(555)
Other comprehensive income			1,108			(62)			1,046			(679)			21			(658)

X

- Definition

The entire disclosure for income taxes.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 12
-IssueDate 2023-01-01
-Section Disclosure
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=12&code=ifrs-tx-2023-en-r&doctype=Standard&dita_xref=IAS12_g79-88_TI
-URIDate 2023-03-23

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X

- References

No definition available.

+ Details

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