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Equity | 12 Months Ended
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Dec. 31, 2021
Text Block [Abstract] |
Equity | 29. Equity Equity share capital
|  |  |  | Number of shares millions |  |  |  |  | Nominal value $m |  |  |  |  | Share premium $m |  |  |  |  | Equity share capital $m |
Allotted, called up and fully paid |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
At 1 January 2019 (ordinary shares of 19 17 ⁄ 21 p each) |  |  |  | 197 |  |  |  |  |  |  | 50 |  |  |  |  | 96 |  |  |  |  |  |  | 146 |
Share capital consolidation |  |  |  | (10) |  |  |  |  |  |  | – |  |  |  |  | – |  |  |  |  |  |  | – |
Exchange adjustments |  |  |  | – |  |  |  |  |  |  | 2 |  |  |  |  | 3 |  |  |  |  |  |  | 5 |
At 31 December 2019 (ordinary shares of 20 340 ⁄ 399 p each) |  |  |  | 187 |  |  |  |  |  |  | 52 |  |  |  |  | 99 |  |  |  |  |  |  | 151 |
Exchange adjustments |  |  |  | – |  |  |  |  |  |  | 1 |  |  |  |  | 4 |  |  |  |  |  |  | 5 |
At 31 December 2020 (ordinary shares of 20 340 ⁄ 399 p each) |  |  |  | 187 |  |  |  |  |  |  | 53 |  |  |  |  | 103 |  |  |  |  |  |  | 156 |
Exchange adjustments |  |  |  | – |  |  |  |  |  |  | – |  |  |  |  | (2) |  |  |  |  |  |  | (2 | )
At 31 December 2021 (ordinary shares of 20 340 ⁄ 399 p each) |  |  |  | 187 |  |  |  |  |  |  | 53 |  |  |  |  | 101 |  |  |  |  |  |  | 154 |
The authority given to the Company at the AGM held on 7 May 2021 to purchase its own shares was still valid at 31 December 2021. A resolution to renew the authority will be put to shareholders at the AGM on 6 May 2022. The Company no longer has an authorised share capital. In October 2018, the Group announced a $500m return of funds to shareholders by way of a special dividend and share consolidation. On 11 January 2019, shareholders approved the share consolidation on the basis of 19 new ordinary shares of 20 340 ⁄ 399 p per share for every 20 existing ordinary shares of 19 17 ⁄ 21 p, which became effective on 14 January 2019 and resulted in the consolidation of 10m shares. The special dividend was paid on 29 January 2019 at a cost of $510m. The dividend and share consolidation had the same economic effect as a share repurchase at fair value, therefore previously reported earnings per share was not restated. Shares held by employee share trusts
|  |  |  | Number of shares millions |  |  | Carrying value $m |  | Market value $m |
31 December 2021 |  |  |  |  | 0.9 |  |  | 21.7 |  |  | 57.3 |
31 December 2020 |  |  |  |  | 0.1 |  |  | 1.4 |  |  | 3.1 |
31 December 2019 |  |  |  |  | 0.1 |  |  | 4.9 |  |  | 9.6 |
Treasury shares During 2021, 1.4m (2020: 0.6m, 2019: 0.8m) treasury shares were transferred to the employee share trusts. At 31 December 2021, 3.7m shares (2020: 5.1m, 2019: 5.7m) with a nominal value of $1.0m (2020: $1.4m, 2019: $1.6m) were held as treasury shares. Cash flow hedge reserves
|  |  |  | Cash flow hedge reserves
|  |  |  | Cash flow hedge reserve $m |  | Cost of hedging reserve $m |  |  | Total $m
At 1 January 2019 |  |  |  | (3) |  |  | (1 | ) |  | (4)
Costs of hedging deferred and recognised in other comprehensive income |  |  |  | – |  |  | (6 | ) |  | (6)
Change in fair value of currency swaps recognised in other comprehensive income |  |  |  | (34) |  |  | – |  |  | (34)
Reclassified from other comprehensive income to profit or loss – included in financial expenses |  |  |  | 38 |  |  | – |  |  | 38
At 31 December 2019 |  |  |  | 1 |  |  | (7 | ) |  | (6)
Costs of hedging deferred and recognised in other comprehensive income |  |  |  | – |  |  | (6 | ) |  | (6)
Change in fair value of currency swaps recognised in other comprehensive income |  |  |  | (1) |  |  | – |  |  | (1)
Reclassified from other comprehensive income to profit or loss – included in financial expenses |  |  |  | (13) |  |  | – |  |  | (13)
Deferred tax |  |  |  | 4 |  |  | – |  |  | 4
Exchange adjustments |  |  |  | (2) |  |  | – |  |  | (2)
At 31 December 2020 |  |  |  | (11) |  |  | (13 | ) |  | (24)
Costs of hedging deferred and recognised in other comprehensive income |  |  |  | – |  |  | 2 |  |  | 2
Change in fair value of currency swaps recognised in other comprehensive income |  |  |  | (62) |  |  | – |  |  | (62)
Reclassified from other comprehensive income to profit or loss – included in financial expenses |  |  |  | 96 |  |  | – |  |  | 96
Deferred tax |  |  |  | (7) |  |  | – |  |  | (7)
At 31 December 2021 |  |  |  | 16 |  |  | (11 | ) |  | 5
Amounts reclassified from other comprehensive income to financial expenses comprise $15m (2020: $9m, 2019: $8m) net interest payable on the currency swaps and an exchange loss of $81m (2020: $22m gain, 2019: $30m loss) which offsets a corresponding gain or loss on the hedged bonds.

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- Definition The entire disclosure for share capital, reserves and other equity interest. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2021-01-01 -Paragraph 79 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_79&doctype=Standard -URIDate 2021-03-24 + Details
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