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Financial instruments (Tables)
 6 Months Ended
Jun. 30, 2018
Text block1 [abstract]  
Analysis of Financial Instruments Measured at Fair Value

The following table provides an analysis of financial instruments that are measured subsequent to initial recognition at fair value, grouped into levels 1 to 3 based on the degree to which the fair value is observable:

Level 1 fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities;

Level 2 fair value measurements are those derived from inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices);

Level 3 fair value measurements are those derived from valuation techniques that include inputs for the asset or liability that are not based on observable market data (unobservable inputs).

 

      Level 1      Level 2     Level 3  
      £m      £m     £m  

30 June 2018

        

Derivatives in designated hedge relationships

        

Derivative assets

      —          —         —    

Derivative liabilities

      —          (30.4 )      —    

Held at fair value through profit or loss

        

Derivative assets

      —          2.1       —    

Derivative liabilities

      —          (2.2 )      —    

Payments due to vendors (earnout agreements) (note 18)

      —          —         (542.9 ) 

Liabilities in respect of put options

      —          —         (261.2 ) 

Equity investments

        

Other investments

      224.4        —         724.9  

Reconciliation of level 3 fair value measurements:

 

      Liabilities
in respect
of put
options		     Other
investments		  
      £m     £m  

1 January 2018

      (258.1 )      820.3  

Gains recognised in the income statement

      21.3       24.2  

Losses recognised in other comprehensive income

      —         (93.3 ) 

Exchange adjustments

      5.5       —    

Additions

      (37.7 )      27.5  

Disposals

      —         (53.5 ) 

Reclassifications from other investments to interests in associates

      —         (0.3 ) 

Settlements

      7.8       —    

30 June 2018

      (261.2 )      724.9  
Summary of Other Investments

Other investments include equity investments designated as fair value through profit or loss and fair value through other comprehensive income as follows:

 

     

30 June

2018

  
      £m  

Fair value through profit or loss

      295.9  

Fair value through other comprehensive income

      653.4  
       949.3