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Net finance costs
12 Months Ended
Dec. 31, 2021
Text block [abstract]  
Net finance costs
6. Net finance costs
 
All figures in £ millions
   Notes     
2021
     2020      2019  
Interest payable on financial liabilities at amortised cost and associated derivatives
           
 
(41
     (38      (22
Interest on lease liabilities
           
 
(27
     (41      (45
Net foreign exchange losses
           
 
—  
 
     (6      (5
Derivatives not in a hedge relationship
           
 
—  
 
     (22      (12
             
 
 
    
 
 
    
 
 
 
Finance costs
           
 
(68
     (107      (84
             
 
 
    
 
 
    
 
 
 
Interest receivable on financial assets at amortised cost
           
 
5
 
     9        15  
Interest on lease receivables
           
 
6
 
     9        11  
Net finance income in respect of retirement benefits
     25     
 
4
 
     6        13  
Fair value remeasurement of disposal proceeds
           
 
6
 
     26        —    
Net foreign exchange gains
           
 
1
 
     —         

 
Derivatives not in a hedge relationship
           
 
20
 
     —          2  
             
 
 
    
 
 
    
 
 
 
Finance income
           
 
42
 
     50        41  
             
 
 
    
 
 
    
 
 
 
Net finance costs
           
 
(26
     (57      (43
             
 
 
    
 
 
    
 
 
 
Net movement in the fair value of hedges is further explained in note 16. Derivatives not in a hedge relationship include fair value movements in the interest rate and cross-currency interest rate swaps.