Leases (Tables)

12 Months Ended

Dec. 31, 2021

Presentation of leases for lessee [abstract]

Summary of information about leases in income statement

The amounts recognised in the income statement are as follows:

All figures in £ millions	Note		2021			2020			2019
Interest on lease liabilities				(27	)		(41	)		(45	)
Expenses relating to short-term leases				—			(1	)		(2	)
Depreciation of right-of-use assets		10		(49	)		(68	)		(64	)
Impairment of right-of-use assets		10		(119	)		(4	)		—

Summary of maturities of operating lease payments

Lease liabilities are included within financial liabilities – borrowings in the balance sheet, see note 18. The maturities of the Group’s lease liabilities are as follows:    

All figures in £ millions	2021		2020
Less than one year		92		100
One to five years		318		333
More than five years		394		441
Total undiscounted lease liabilities		804		874
Lease liabilities included in the balance sheet		633		683
Analysed as:
Current		68		73
Non-current		565		610

Summary of information about leases in cash flow statement

The amounts recognised in the cash flow statement are as follows:

All figures in £ millions	2021		2020		2019
Total cash outflow for leases as a lessee		115		133		136

Summary of information about leases of lessor in income statement

The amounts recognised in the income statement are as follows:

All figures in £ millions	2021		2020		2019
Interest on lease receivables		6		9		11
Income from subleasing right-of-use assets (within other income)		2		7		17

Summary of information about leases of lessor in cash flow statement

The amounts recognised in the cash flow statement are as follows:    

All figures in £ millions	2021		2020		2019
Total cash inflow for leases as a lessor		27		50		37

Summary of detailed information about undiscounted lease payments to be received after the reporting date

The following table sets out the maturity analysis of lease payments receivable for subleases classified as operating leases, showing the undiscounted lease payments to be received after the reporting date, and subleases classified as finance leases showing the undiscounted lease payments to be received after the reporting date and the net investment in the finance lease receivable. During the year the investment in finance lease receivable decreased by £15m (2020: decreased £66m), primarily due to payments received.

All figures in £ millions	Operating leases		Finance leases			2021 Total		2020 Total
Less than one year		1		20			21		24
One to two years		—		18			18		24
Two to three years		1		19			20		18
Three to four years		2		19			21		18
Four to five years		1		19			20		18
More than five years		2		39			41		56
Total undiscounted lease payments receivable		7		134			141		158
Unearned finance income				(19	)
Net investment in finance lease receivable				115