Financial liabilities - borrowings (Tables)

12 Months Ended

Dec. 31, 2021

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Summary of Current and Non - Current Borrowings

The Group’s current and non-current borrowings are as follows:

All figures in £ millions	2021		2020
Non-current
3.75% US dollar notes 2022 (nominal amount $117m)		—		86
3.25% US dollar notes 2023 (nominal amount $94m)		70		69
1.375% euro notes 2025 (nominal amount €300m)		257		279
3.75% GBP notes 2030 (nominal amount £350m)		353		353
Lease liabilities (see note 35)		565		610
		1,245		1,397
Current (due within one year or on demand)
Bank loans and overdrafts		—		3
1.875% euro notes 2021 (nominal amount €195m)		—		178
3.75% US dollar notes 2022 (nominal amount $117m)		87		—
Lease liabilities (see note 35)		68		73
		155		254
Total borrowings		1,400		1,651

Summary of Maturities of the Group's Non-Current Borrowings

The maturities of the Group’s non-current borrowings are as follows:

All figures in £ millions	2021		2020
Between one and two years		140		160
Between two and five years		435		531
Over five years		670		706
		1,245		1,397

Summary of Carrying Amounts and Market Value of Borrowings

	2021							2020
All figures in £ millions	Effective interest rate			Carrying value		Market value		Effective interest rate			Carrying value		Market value
Bank loans and overdrafts		n/a			—		—		n/a			3		3
1.875% euro notes 2021		n/a			—		—		2.04	%		178		176
3.75% US dollar notes 2022		3.94	%		87		87		3.94	%		86		88
3.25% US dollar notes 2023		3.36	%		70		71		3.36	%		69		71
1.375% euro notes 2025		1.44	%		257		260		1.44	%		279		278
3.75% GBP notes 2030		3.93	%		353		380		3.93	%		353		404
					767		798					968		1,020

Summary of Carrying Amounts of Borrowings which Denominated in Currencies

The carrying amounts of the Group’s borrowings before the effect of derivatives (see notes 16 and 19 for further information on the impact of derivatives) are denominated in the following currencies:

All figures in £ millions	2021		2020
US dollar		434		458
Sterling		674		686
Euro		268		472
Other		24		35
		1,400		1,651