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v3.19.3.a.u2

Financial risk management and derivative financial instruments (Tables) | 12 Months Ended
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Dec. 31, 2019
Text block [abstract] |
Summary of Derivative Financial Instruments | Derivatives are recorded in the Group statement of financial position at fair value ( see note 2 5 ) as follows :
Hedging instrument |  | Hedged risk |  |  | Hedge classification |  |  | 2019 $m |  |  | 2018 $m |
Currency swaps |  |  | Foreign exchange |  |  |  | Cash flow hedge |  |  |  | (20 | ) |  |  | 7 |
Short-dated foreign exchange swaps |  |  | Foreign exchange |  |  |  | Net investment hedge |  |  |  | 1 |  |  |  | 1 |
|  |  |  |  |  |  |  |  |  |  | (19 | ) |  |  | 8 |
Analysed as: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-current assets |  |  |  |  |  |  |  |  |  |  | — |  |  |  | 7 |
Current assets |  |  |  |  |  |  |  |  |  |  | 1 |  |  |  | 1 |
Non-current liabilities |  |  |  |  |  |  |  |  |  |  | (20 | ) |  |  | — |
|  |  |  |  |  |  |  |  |  |  | (19 | ) |  |  | 8 |
Summary of Interest and Foreign Exchange Risk Sensitivities |
|  |  |  | 2019 $m |  |  | 2018 Restated $m |  |  | 2017 a $m |
Increase/(decrease) in profit before tax |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sterling: US dollar exchange rate |  | 5¢ fall |  |  | 4.0 |  |  |  | 4.1 |  |  |  | 4.0 |
Euro: US dollar exchange rate |  | 5¢ fall |  |  | (2.6 | ) |  |  | (2.4 | ) |  |  | (2.1 | )
US dollar interest rates |  | 1% increase |  |  | (1.6 | ) |  |  | (0.9 | ) |  |  | (2.9 | )
Sterling interest rates |  | 1% increase |  |  | 0.6 |  |  |  | 5.5 |  |  |  | 0.3 |
Decrease/(increase) in net liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sterling: US dollar exchange rate |  | 5¢ fall |  |  | 39.9 |  |  |  | 25.9 |  |  |  | 44.1 |
Euro: US dollar exchange rate |  | 5¢ fall |  |  | 24.1 |  |  |  | 23.8 |  |  |  | (4.1 | )
Sterling: euro exchange rate |  | 5¢ fall |  |  | 33.0 |  |  |  | 31.9 |  |  |  | — |
Summary of Undiscounted Contractual Cash Flows of Financial Liabilities | The following are the undiscounted contractual cash flows of financial liabilities, including interest payments. The payment profile of contingent purchase consideration has been based on management’s forecasts and could in reality be different from expectations.
|  | Less than 1 year $m |  |  | Between 1 and 2 years $m |  |  | Between 2 and 5 years $m |  |  | More than 5 years $m |  |  | Total $m |
31 December 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-derivative financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Bank overdrafts |  |  | 87 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 87 |
Unsecured bank loans |  |  | 125 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 125 |
£400m 3.875% bonds 2022 |  |  | 21 |  |  |  | 21 |  |  |  | 548 |  |  |  | — |  |  |  | 590 |
£300m 3.75% bonds 2025 |  |  | 15 |  |  |  | 15 |  |  |  | 45 |  |  |  | 411 |  |  |  | 486 |
£350m 2.125% bonds 2026 |  |  | 10 |  |  |  | 10 |  |  |  | 29 |  |  |  | 482 |  |  |  | 531 |
€500m 2.125% bonds 2027 |  |  | 12 |  |  |  | 12 |  |  |  | 36 |  |  |  | 597 |  |  |  | 657 |
Lease liabilities |  |  | 97 |  |  |  | 116 |  |  |  | 193 |  |  |  | 3,451 |  |  |  | 3,857 |
Trade and other payables (excluding deferred and contingent purchase consideration) |  |  | 567 |  |  |  | 1 |  |  |  | 1 |  |  |  | 1 |  |  |  | 570 |
Deferred and contingent purchase consideration |  |  | 3 |  |  |  | 20 |  |  |  | 19 |  |  |  | 120 |  |  |  | 162 |
Derivative financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Forward foreign exchange contracts |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1 | )
Currency swaps hedging €500m 2.125% bonds 2027 outflows |  |  | 20 |  |  |  | 20 |  |  |  | 61 |  |  |  | 627 |  |  |  | 728 |
Currency swaps hedging €500m 2.125% bonds 2027 inflows |  |  | (12 | ) |  |  | (12 | ) |  |  | (36 | ) |  |  | (597 | ) |  |  | (657 | )
|  | Less than 1 year Restated $m |  |  | Between 1 and 2 years Restated $m |  |  | Between 2 and 5 years Restated $m |  |  | More than 5 years Restated $m |  |  | Total Restated $m |
31 December 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-derivative financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Bank overdrafts |  |  | 104 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 104 |
£400m 3.875% bonds 2022 |  |  | 20 |  |  |  | 20 |  |  |  | 550 |  |  |  | — |  |  |  | 590 |
£300m 3.75% bonds 2025 |  |  | 14 |  |  |  | 14 |  |  |  | 43 |  |  |  | 412 |  |  |  | 483 |
£350m 2.125% bonds 2026 |  |  | 10 |  |  |  | 10 |  |  |  | 28 |  |  |  | 475 |  |  |  | 523 |
€500m 2.125% bonds 2027 |  |  | 6 |  |  |  | 12 |  |  |  | 37 |  |  |  | 621 |  |  |  | 676 |
Lease liabilities |  |  | 93 |  |  |  | 93 |  |  |  | 226 |  |  |  | 3,479 |  |  |  | 3,891 |
Trade and other payables (excluding deferred and contingent purchase consideration) |  |  | 609 |  |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | 610 |
Deferred and contingent purchase consideration |  |  | 7 |  |  |  | 8 |  |  |  | 37 |  |  |  | 262 |  |  |  | 314 |
Derivative financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Forward foreign exchange contracts |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1 | )
Currency swaps hedging €500m 2.125% bonds 2027 outflows |  |  | 20 |  |  |  | 20 |  |  |  | 58 |  |  |  | 625 |  |  |  | 723 |
Currency swaps hedging €500m 2.125% bonds 2027 inflows |  |  | (6 | ) |  |  | (12 | ) |  |  | (37 | ) |  |  | (621 | ) |  |  | (676 | )

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- Definition The disclosure of derivative financial instruments. [Refer: Derivatives [member]] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2019-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2019-en-r&anchor=para_10_e&doctype=Standard -URIDate 2019-03-27 + Details
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- Definition The disclosure of a maturity analysis for non-derivative financial liabilities (including issued financial guarantee contracts) that shows the remaining contractual maturities. [Refer: Derivative financial liabilities] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2019-01-01 -Paragraph 39 -Subparagraph a -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2019-en-r&anchor=para_39_a&doctype=Standard -URIDate 2019-03-27 + Details
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- Definition The disclosure of the sensitivity analysis for types of market risk to which the entity is exposed, showing how profit or loss and equity would have been affected by changes in the relevant risk variable that were reasonably possible at that date. [Refer: Market risk [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2019-01-01 -Paragraph 40 -Subparagraph a -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2019-en-r&anchor=para_40_a&doctype=Standard -URIDate 2019-03-27 + Details
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- Definition Text block [abstract] + References No definition available. + Details
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