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Share-based payments (Tables) | 12 Months Ended
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Dec. 31, 2017
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Summary of Information about Awards Granted | The Group uses separate option pricing models and assumptions depending on the plan. The following table sets out information about awards granted in 2017, 2016 and 2015:
|  | APP |  |  | LTIP |
|  | Binomial valuation model |  |  | Monte Carlo Simulation and Binomial valuation model |
|  | 2017 |  |  | 2016 |  |  | 2015 |  |  | 2017 |  |  | 2016 |  |  | 2015 |
Weighted average share price |  |  | 3,781.0p |  |  |  | 2,725.0p |  |  |  | 2,565.0p |  |  |  | 4,300.0p |  |  |  | 2,846.0p |  |  |  | 2,634.0p |
Expected dividend yield |  |  | n/a |  |  |  | n/a |  |  |  | n/a |  |  |  | 2.05 | % |  |  | 2.55 | % |  |  | 2.34 | %
Risk-free interest rate |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.10 | % |  |  | 0.36 | % |  |  | 0.59 | %
Volatilitya |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 24 | % |  |  | 24 | % |  |  | 22 | %
Term (years) |  |  | 3.0 |  |  |  | 3.0 |  |  |  | 3.0 |  |  |  | 3.0 |  |  |  | 3.0 |  |  |  | 3.0 |
a | The expected volatility was determined by calculating the historical volatility of the Company’s share price corresponding to the expected life of the share award.
Summary of Movements in Awards Outstanding Under the Schemes | Movements in the awards outstanding under the schemes are as follows:
|  | APP |  |  | LTIP |
|  | Number of shares thousands |  |  | Performance-related awards Number of shares thousands |  |  | Restricted stock units Number of shares thousands |
Outstanding at 1 January 2015 |  |  | 768 |  |  |  | 6,120 |  |  |  | — |
Granted |  |  | 265 |  |  |  | 1,803 |  |  |  | — |
Vested |  |  | (307 | ) |  |  | (1,278 | ) |  |  | — |
Lapsed or cancelled |  |  | (37 | ) |  |  | (1,370 | ) |  |  | — |
Outstanding at 31 December 2015 |  |  | 689 |  |  |  | 5,275 |  |  |  | — |
Granted |  |  | 336 |  |  |  | 889 |  |  |  | 467 |
Vested |  |  | (229 | ) |  |  | (915 | ) |  |  | — |
Share capital consolidation |  |  | (104 | ) |  |  | — |  |  |  | — |
Lapsed or cancelled |  |  | (7 | ) |  |  | (1,048 | ) |  |  | (18 | )
Outstanding at 31 December 2016 |  |  | 685 |  |  |  | 4,201 |  |  |  | 449 |
Granted |  |  | 235 |  |  |  | 280 |  |  |  | 525 |
Vested |  |  | (263 | ) |  |  | (928 | ) |  |  | — |
Share capital consolidation |  |  | (21 | ) |  |  | — |  |  |  | — |
Lapsed or cancelled |  |  | (20 | ) |  |  | (1,160 | ) |  |  | (58 | )
Outstanding at 31 December 2017 |  |  | 616 |  |  |  | 2,393 |  |  |  | 916 |
Fair value of awards granted during the year (cents) |  |  |  |  |  |  |  |  |  |  |  |
2017 |  |  | 4,959.3 |  |  |  | 4,133.2 |  |  |  | 5,251.0 |
2016 |  |  | 3,671.9 |  |  |  | 1,768.0 |  |  |  | 3,624.5 |
2015 |  |  | 3,874.5 |  |  |  | 1,734.5 |  |  |  | — |
Weighted average remaining contract life (years) |  |  |  |  |  |  |  |  |  |  |  |
At 31 December 2017 |  |  | 1.2 |  |  |  | 0.6 |  |  |  | 1.7 |
At 31 December 2016 |  |  | 1.2 |  |  |  | 0.9 |  |  |  | 2.2 |
At 31 December 2015 |  |  | 1.2 |  |  |  | 1.1 |  |  |  | — |

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- Definition The disclosure of information about indirect, by reference to the fair value of the equity instruments granted, measurement of the fair value of goods or services received as consideration for the entity's share options. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 2 -IssueDate 2017-01-01 -Paragraph 47 -Subparagraph a -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=2&date=2017-03-01&anchor=para_47_a&doctype=Standard -URIDate 2017-03-09 + Details
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- Definition The disclosure of the number and weighted average remaining contractual life of outstanding share options. [Refer: Weighted average [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 2 -IssueDate 2017-01-01 -Paragraph 45 -Subparagraph d -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=2&date=2017-03-01&anchor=para_45_d&doctype=Standard -URIDate 2017-03-09 + Details
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