Share-based payments (Tables)

12 Months Ended

Dec. 31, 2020

Text block [abstract]

Summary of Information about Awards Granted

The following table sets out information about awards granted in 2020, 2019 and 2018 under the APP and LTIP. The total fair value of the Colleague Share Plan is not significant.​​​​​​​

	APP						LTIP
	Binomial valuation model						Monte Carlo Simulation and Binomial valuation model
	2020		2019		2018		2020			2019			2018
Weighted average share price (pence)		3,771.0		4,597.0		4,645.0		3,450.0			4,850.0			4,774.0
Expected dividend yield		n/a		n/a		n/a		1.48	%		2.16	%		2.27	%
Risk-free interest rate								0.02	%		0.72	%		0.84	%
Volatilitya								33	%		19	%		25	%
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 2018		616			2,393			916
Granted		176			257			527
Vested		(199	)		(702	)		—
Lapsed or cancelled		(2	)		(860	)		(142	)
Outstanding at 31 December 2018		591			1,088			1,301
Granted		217			287			540
Vested		(276	)		(293	)		(422	)
Share capital consolidation		(21	)		—			—
Lapsed or cancelled		(15	)		(387	)		(144	)
Outstanding at 31 December 2019		496			695			1,275
Granted		138			383			696
Vested		(188	)		(179	)		(413	)
Lapsed or cancelled		(33	)		(85	)		(137	)
Outstanding at 31 December 2020		413			814			1,421
Fair value of awards granted during the year (cents)
2020		4,965.9			2,473.5			4,397.5
2019		5,888.7			4,985.6			5,862.1
2018		6,066.2			4,748.7			5,966.0
Weighted average remaining contract life (years)
At 31 December 2020		1.0			1.4			1.3
At 31 December 2019		1.1			1.3			1.2
At 31 December 2018		1.0			0.8			1.2