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Share-based payments (Tables)

12 Months Ended

Dec. 31, 2025

Disclosure of terms and conditions of share-based payment arrangement [abstract]

Summary of Cost Related to Share-Based Payment Transactions

Costs relating to share-based payment transactions

		2025		2024		2023
		$m		$m		$m
Equity-settled
Operating profit before System Fund and reimbursables		42		37		31
System Fund		25		23		20
		67		60		51
Cash-settled
Operating profit before System Fund and reimbursables		5		7		5
		72		67		56

Summary of Information about Awards Granted

Option pricing models, assumptions and movements in awards outstanding

		APP/DAP						LTIP/DAP
		Binomial valuation model						Monte Carlo Simulation, Binomial and Finnerty valuation models
Option pricing models and assumptions		2025		2024		2023		2025		2024		2023
Weighted average share price (pence)		9,420.1		8,481.8		5,571.7		9,250.0		7,940.0		5,318.0
Expected dividend yield								1.84%		2.12%		2.52% to 2.77%
Risk-free interest rate								3.88%		4.20%		3.85%
Volatilitya								21%		26%		29% to 30%
Term (years)		2.9		2.2		2.3		2.8		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

Number of share awards (thousands)		APP/DAP				LTIP/DAP
		Deferred shares/ one-off awards		Performance-related awards/LTI		Restricted stock units
Outstanding at 1 January 2023		321		933		1,575
Granted		214		329		683
Vested		(186)		(180)		(533)
Lapsed or cancelled		(17)		(246)		(63)
Outstanding at 31 December 2023		332		836		1,662
Granted		104		279		495
Vested		(44)		(136)		(402)
Lapsed or cancelled		(6)		(148)		(106)
Outstanding at 31 December 2024		386		831		1,649
Granted		82		270		470
Vested		(174)		(246)		(599)
Lapsed or cancelled		(5)		(77)		(93)
Outstanding at 31 December 2025		289		778		1,427
Average fair value of awards granted during the year (cents)
2025		12,412.2		6,698.1		11,754.0
2024		10,837.6		5,812.6		10,302.3
2023		6,926.4		3,169.7		6,351.0
Weighted average remaining contract life (years)
At 31 December 2025		1.0		1.1		1.1
At 31 December 2024		0.9		1.1		1.1
At 31 December 2023		1.5		1.3		1.3

X

- 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 other equity instruments (ie other than share options).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 2
-IssueDate 2025-01-01
-Paragraph 47
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2025-en-r&anchor=para_47_b&doctype=Standard
-URIDate 2025-03-27

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X

- 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 2025-01-01
-Paragraph 45
-Subparagraph d
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2025-en-r&anchor=para_45_d&doctype=Standard
-URIDate 2025-03-27

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X

- Definition

The explanation that enables users of financial statements to understand the effect of share-based payment transactions on the entity's profit (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 2
-IssueDate 2025-01-01
-Paragraph 50
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2025-en-r&anchor=para_50&doctype=Standard
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