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Consolidated statement of changes in equity (Parenthetical) £ in Millions, shares in Millions, $ in Millions | 1 Months Ended | 12 Months Ended |
--- | --- | --- | ---
Mar. 31, 2022 GBP (£) £ / shares shares | Feb. 28, 2022 GBP (£) | Mar. 31, 2021 GBP (£) £ / shares shares | Dec. 31, 2022 GBP (£) shares | Dec. 31, 2021 GBP (£) shares | Jul. 31, 2021 USD ($)
Net (loss) gain as a result of significant movements in underlying actuarial assumptions |  |  |  |  | £ 20,714.0 |  |
Main Scheme |  |  |  |  |  |  |
Net (loss) gain as a result of significant movements in underlying actuarial assumptions |  |  |  |  | 18,744.0 |  |
AT1 capital notes |  |  |  |  |  |  |
AT1 capital notes called | $ |  |  |  |  |  |  | $ 2,650
Retained earnings |  |  |  |  |  |  |
Value of purchased ordinary shares | [1],[2] |  |  |  | 2,054.0 | £ 1,423.0 |
Loss recognised on reclassification between equity and liabilities |  |  | £ 254.0 |  |  |  |
UK Government Investments Ltd (UKGI) |  |  |  |  |  |  |
Ordinary shares acquired | shares |  | 549.9 |  | 591.0 |  |  |
Purchase price per share | £ / shares |  | £ 2.205 |  | £ 1.905 |  |  |
Value of purchased ordinary shares |  | £ 1,220.0 |  | £ 1,130.0 |  |  |
Number of treasury stock, shares cancelled | shares |  | 549.9 |  |  |  |  |
Value of treasury shares cancelled |  |  |  | £ 391.0 |  |  |
Number of own shares held | shares |  |  |  | 200.0 |  |  |
On Market Share Buyback Programme |  |  |  |  |  |  |
Value of purchased ordinary shares |  |  |  |  | £ 829.3 | £ 676.2 |
Number of shares repurchased and cancelled | shares |  |  |  |  | 379.3 | 310.8 |
[1] | In March 2022, there was an agreement with HM Treasury to buy 549.9 million (March 2021 - 591 million) ordinary shares in NatWest Group plc from UK Government Investments Ltd, at 220.5 pence per share (March 2021 - 190.5 pence per share) for the total consideration of £1.22 billion (March 2021 - £1.13 billion). NatWest Group cancelled all 549.9 million of the purchased ordinary shares (March 2021 - NatWest Group cancelled 391 million of the purchased ordinary shares and held the remaining 200 million in own shares held). The nominal value of the share cancellation has been transferred to the capital redemption reserve.
[2] | NatWest Group plc repurchased and cancelled 379.3 million (2021 - 310.8 million) shares for total consideration of £829.3 million (2022 £676.2 million) excluding fees as part of the On Market Share Buyback Programme which has now concluded. The nominal value of the share cancellations has been transferred to the capital redemption reserve.

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- Definition The decrease (increase) in a net defined benefit liability (asset) resulting from actuarial gains (losses) arising from changes in financial assumptions that result in remeasurements of the net defined benefit liability (asset). Financial assumptions deal with items such as: (a) the discount rate; (b) benefit levels, excluding any cost of the benefits to be met by employees, and future salary; (c) in the case of medical benefits, future medical costs, including claim handling costs (ie the costs that will be incurred in processing and resolving claims, including legal and adjuster's fees); and (d) taxes payable by the plan on contributions relating to service before the reporting date or on benefits resulting from that service. [Refer: Net defined benefit liability (asset)] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 19 -IssueDate 2022-03-24 -Paragraph 141 -Subparagraph c -Clause iii -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=19&code=ifrs-tx-2022-en-r&anchor=para_141_c_iii&doctype=Standard -URIDate 2022-03-24 + Details
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