Share-based payments (Tables)

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Summary of Cost Related to Share-Based Payment Transactions

	2022 $m		2021 $m		2020 $m
Equity-settled
Operating profit before System Fund and exceptional items		28		26		19
System Fund		16		13		11
		44		39		30
Cash-settled
Operating profit before System Fund and exceptional items		2		2		2
		46		41		32

Summary of Information about Awards Granted

	APP				LTIP
	Binomial valuation model				Monte Carlo Simulation, Binomial and Finnerty valuation models
Option pricing models and assumptions		2022	2021	2020		2022	2021	2020
Weighted average share price (pence)		5,018.3	5,009.0	3,771.0		4,875.0	4,980.0	3,450.0
Expected dividend yield						2.29% to 2.67%	1.11%	1.48%
Risk-free interest rate						1.29%	0.09%	0.02%
Volatilitya						35% to 45%	43%	33%
Term (years)		1.7	1.5	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

	APP						LTIP
Number of share awards (thousands)				Performance-related awards			Restricted stock units
Outstanding at 1 January 2020		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
Granted		90			281			442
Vested		(147	)		(70	)		(391	)
Lapsed or cancelled		(8	)		(153	)		(122	)
Outstanding at 31 December 2021		348			872			1,350
Granted		236			323			706
Vested		(254	)		(23	)		(391	)
Lapsed or cancelled		(9	)		(239	)		(90	)
Outstanding at 31 December 2022		321			933			1,575
Fair value of awards granted during the year (cents)
2022		6,180.2			3,770.0			5,656.4
2021		6,888.5			4,676.3			6,559.7
2020		4,965.9			2,473.5			4,397.5
Weighted average remaining contract life (years)
At 31 December 2022		1.0			1.1			1.2
At 31 December 2021		0.5			1.2			1.2
At 31 December 2020		1.0			1.4			1.3