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Cash generated from operations
 12 Months Ended
Dec. 31, 2021
Text block [abstract]  
Cash generated from operations
33. Cash generated from operations
 
All figures in £ millions
   
Notes
     
2021
    
2020
    
2019
  
Profit
            
 
160
 
     310       266  
Adjustments for:
                                  
Income tax
            
 
(3
) 
     44       (34 ) 
Depreciation and impairment of property, plant and equipment
  
 
10
 
  
 
241
 
 
 
 125
 
 
 
123
 
Amortisation and impairment of acquired intangibles and goodwill
  
 
11
 
  
 
50
 
 
 
 80
 
 
 
 151
 
Amortisation and impairment of software
      11     
 
117
 
     112       115  
Net finance costs
      6     
 
26
 
     57       43  
Share of results of joint ventures and associates
      12     
 
(1
) 
     (5 )      (54 ) 
Profit on disposal of subsidiaries, associates, investments and fixed assets
            
 
(61
) 
     (182 )      (9 ) 
Other net gains and losses
            
 
2
 
     6       —    
Net profit on disposal of
right-of-use
assets including transfers to investment in finance lease receivable
            
 
—  
 
     (6 )      (4 ) 
Net foreign exchange adjustment from transactions
            
 
9
 
     (34 )      (21 ) 
Investment income
            
 
—  
 
     —         (2 )
Share-based payment costs
      26     
 
28
 
     29       25  
Product development assets
            
 
(6
) 
     (56 )      (55 )
Inventories
            
 
22
 
     35       (20 ) 
Trade and other receivables
            
 
(71
) 
     (1 )      59  
Trade and other liabilities
            
 
37
 
     (26 )      (157 ) 
Retirement benefit obligations
            
 
6
 
     (1 )      5  
Provisions for other liabilities and charges
            
 
14
 
     (37 )      49  
             
 
 
    
 
 
    
 
 
  
Net cash generated from operations
            
 
570
 
     450       480  
 
  
      
  
 
 
 
 
 
 
 
 
 
 
 

Net cash generated from operations is translated at an exchange rate approximating the rate at the date of cash flow. The difference between this rate and the average rate used to translate profit gives rise to a currency adjustment in the reconciliation between net profit and net cash generated from operations. This adjustment reflects the timing difference between recognition of profit and the related cash receipts or payments.
 In the cash flow statement, proceeds from sale of property, plant and equipment comprise:
 
All figures in £ millions
   
2021
     
2020
     
2019
  
Net book amount
   
 
4
 
      2        3  
Loss on sale of property, plant and equipment
   
 
(4
) 
      (2 )       (2 ) 
    
 
 
     
 
 
     
 
 
  
Proceeds from sale of property, plant and equipment
   
 
—  
 
      —          1  
    
 
 
     
 
 
     
 
 
  
The movements in the Group’s current and
non-current
borrowings are as follows:
 
All figures in £ millions
  
2020
    
New leases/
disposal of
leases
    
Transfer from
non-current

to current
    
Financing
cash flows
    
Foreign
exchange
movements
    
Fair value
and other
movements
    
2021
  
Financial liabilities
                                                        
Non-current
borrowings
     1,458    
 
(36
) 
  
 
(160
) 
  
 
—  
 
  
 
3
 
  
 
(20
) 
  
 
1,245
 
Current borrowings
     248    
 
(1
) 
  
 
160
 
  
 
(255
) 
  
 
(4
) 
  
 
9
 
  
 
157
 
   
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total
     1,706    
 
(37
) 
  
 
—  
 
  
 
(255
) 
  
 
(1
) 
  
 
(11
) 
  
 
1,402
 
   
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
 
All figures in £ millions
  
2019
    
New leases/
disposal of
leases
    
Transfer from
non-current
to current
    
Financing
cash flows
    
Foreign
exchange
movements
    
Fair value
and other
movements
    
2020
  
Financial liabilities
                                                        
Non-current borrowings
     1,567       30       (260 )      116       (22 )      27    
 
 1,458
 
Current borrowings
     79       (6 )      260       (92 )      5       2    
 
 248
 
   
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total
     1,646       24       —         24       (17 )      29    
 
 1,706
 
   
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
 
All figures in £ millions
  
2018
    
IFRS 16

Transition
    
New leases/

disposal of
leases
    
Transfer from
non-current
to current
    
Financing
cash flows
    
Foreign
exchange
movements
    
Fair value
and other
movements
    
2019
  
Financial liabilities
                                                                
Non-current
borrowings
     643       792       61       (88 )      230       (80 )      9       1,567  
Current borrowings
     25       89       —         88       (139 )      16       —         79  
   
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total
     668       881       61       —         91       (64 )      9       1,646  
   
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Non-current
borrowings include bonds, derivative financial instruments and leases. Current borrowings include loans repayable within one year, derivative financial instruments and leases, but exclude overdrafts classified within cash and cash equivalents.