{ "documentInfo": { "documentType": "https://xbrl.org/2021/xbrl-json", "features": { "xbrl:canonicalValues": true }, "namespaces": { "ifrs-full": "https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full", "imperialbrandsplc": "http://imperialbrandsplc.com/xbrl/2023", "iso4217": "http://www.xbrl.org/2003/iso4217", "scheme": "http://standards.iso.org/iso/17442", "xbrl": "https://xbrl.org/2021", "xbrli": "http://www.xbrl.org/2003/instance" }, "taxonomy": [ "http://imperialbrandsplc.com/xbrl/2023/549300DFVPOB67JL3A42-2024-09-30.xsd" ] }, "facts": { "fact-1": { "value": "We start with the consumer \u2013 and everything we do is based around a deep understanding of existing adult smokers and nicotine consumers. Our insights research is led by our Global Consumer Office and we unlock value by ensuring we offer our consumers the right product choices to meet their needs. These insights provide competitive advantage and inform our product offerings in both combustible tobacco and NGP.", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-7": { "value": "32411000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Revenue", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-8": { "value": "32475000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Revenue", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-9": { "value": "13925000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:DutyAndSimilarItems", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-10": { "value": "14398000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:DutyAndSimilarItems", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-11": { "value": "11707000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:OtherCostOfSales", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-12": { "value": "11397000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:OtherCostOfSales", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-13": { "value": "25632000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:CostOfSales", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-14": { "value": "25795000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:CostOfSales", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-15": { "value": "6779000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:GrossProfit", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-16": { "value": "6680000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:GrossProfit", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-17": { "value": "2383000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:DistributionAdvertisingAndSellingCosts", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-18": { "value": "2338000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:DistributionAdvertisingAndSellingCosts", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-19": { "value": "842000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdministrativeExpense", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-20": { "value": "940000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdministrativeExpense", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-21": { "value": "3554000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossFromOperatingActivities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-22": { "value": "3402000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossFromOperatingActivities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-23": { "value": "560000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:InvestmentIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-24": { "value": "772000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:InvestmentIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-25": { "value": "1094000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:FinanceCosts", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-26": { "value": "1070000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:FinanceCosts", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-27": { "value": "-534000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:FinanceIncomeCost", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-28": { "value": "-298000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:FinanceIncomeCost", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-29": { "value": "9000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-30": { "value": "7000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-31": { "value": "3029000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-32": { "value": "3111000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-33": { "value": "282000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncomeTaxExpenseContinuingOperations", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-34": { "value": "655000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncomeTaxExpenseContinuingOperations", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-35": { "value": "2747000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-36": { "value": "2456000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-37": { "value": "2613000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-38": { "value": "2328000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-39": { "value": "134000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-40": { "value": "128000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-41": { "value": "3.007", "decimals": 3, "dimensions": { "concept": "ifrs-full:BasicEarningsLossPerShare", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP/xbrli:shares" } }, "fact-42": { "value": "2.524", "decimals": 3, "dimensions": { "concept": "ifrs-full:BasicEarningsLossPerShare", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP/xbrli:shares" } }, "fact-43": { "value": "2.99", "decimals": 3, "dimensions": { "concept": "ifrs-full:DilutedEarningsLossPerShare", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP/xbrli:shares" } }, "fact-44": { "value": "2.508", "decimals": 3, "dimensions": { "concept": "ifrs-full:DilutedEarningsLossPerShare", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP/xbrli:shares" } }, "fact-45": { "value": "2747000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-46": { "value": "2456000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-47": { "value": "-602000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-48": { "value": "-508000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-49": { "value": "6000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:HyperinflationAdjustmentInTheYear", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-50": { "value": "5000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:HyperinflationAdjustmentInTheYear", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-51": { "value": "197000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CurrentTaxOnHedgeOfNetInvestmentsAndQuasiEquityLoans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-52": { "value": "115000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CurrentTaxOnHedgeOfNetInvestmentsAndQuasiEquityLoans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-53": { "value": "-793000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-54": { "value": "-618000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-55": { "value": "-99000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-56": { "value": "-376000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-57": { "value": "-37000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:DeferredTaxRelatingToNetActuarialLossesGainsOnRetirementBenefits", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-58": { "value": "-135000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:DeferredTaxRelatingToNetActuarialLossesGainsOnRetirementBenefits", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-59": { "value": "-62000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-60": { "value": "-241000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-61": { "value": "-855000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-62": { "value": "-859000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-63": { "value": "1892000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-64": { "value": "1597000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-65": { "value": "1783000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-66": { "value": "1484000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-67": { "value": "109000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-68": { "value": "113000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-69": { "value": "1892000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-70": { "value": "1597000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-71": { "value": "15938000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:IntangibleAssetsAndGoodwill", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-72": { "value": "16944000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:IntangibleAssetsAndGoodwill", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-73": { "value": "1561000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:PropertyPlantAndEquipment", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-74": { "value": "1617000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:PropertyPlantAndEquipment", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-75": { "value": "362000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:RightofuseAssets", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-76": { "value": "326000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:RightofuseAssets", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-77": { "value": "56000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:InvestmentAccountedForUsingEquityMethod", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-78": { "value": "55000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:InvestmentAccountedForUsingEquityMethod", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-79": { "value": "376000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentRecognisedAssetsDefinedBenefitPlan", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-80": { "value": "414000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentRecognisedAssetsDefinedBenefitPlan", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-81": { "value": "118000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentReceivables", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-82": { "value": "63000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentReceivables", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-83": { "value": "330000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentDerivativeFinancialAssets", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-84": { "value": "824000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentDerivativeFinancialAssets", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-85": { "value": "889000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:DeferredTaxAssets", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-86": { "value": "653000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:DeferredTaxAssets", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-87": { "value": "19630000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentAssets", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-88": { "value": "20896000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentAssets", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-89": { "value": "4080000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Inventories", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-90": { "value": "4522000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Inventories", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-91": { "value": "2645000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentReceivables", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-92": { "value": "2490000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentReceivables", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-93": { "value": "249000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentTaxAssets", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-94": { "value": "112000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentTaxAssets", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-95": { "value": "1078000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-96": { "value": "1345000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-97": { "value": "144000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentDerivativeFinancialAssets", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-98": { "value": "126000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentDerivativeFinancialAssets", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-99": { "value": "8196000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentAssets", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-100": { "value": "8595000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentAssets", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-101": { "value": "27826000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Assets", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-102": { "value": "29491000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Assets", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-103": { "value": "1191000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ShorttermBorrowings", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-104": { "value": "1499000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ShorttermBorrowings", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-105": { "value": "187000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentDerivativeFinancialLiabilities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-106": { "value": "174000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentDerivativeFinancialLiabilities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-107": { "value": "86000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentLeaseLiabilities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-108": { "value": "81000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentLeaseLiabilities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-109": { "value": "9497000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentPayables", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-110": { "value": "9579000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentPayables", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-111": { "value": "412000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentTaxLiabilities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-112": { "value": "418000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentTaxLiabilities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-113": { "value": "89000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentProvisions", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-114": { "value": "148000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentProvisions", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-115": { "value": "11462000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentLiabilities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-116": { "value": "11899000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentLiabilities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-117": { "value": "7506000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:LongtermBorrowings", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-118": { "value": "7882000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:LongtermBorrowings", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-119": { "value": "622000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentDerivativeFinancialLiabilities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-120": { "value": "829000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentDerivativeFinancialLiabilities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-121": { "value": "300000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentLeaseLiabilities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-122": { "value": "268000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentLeaseLiabilities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-123": { "value": "86000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentPayables", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-124": { "value": "27000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentPayables", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-125": { "value": "780000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:DeferredTaxLiabilities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-126": { "value": "871000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:DeferredTaxLiabilities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-127": { "value": "819000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentRecognisedLiabilitiesDefinedBenefitPlan", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-128": { "value": "807000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentRecognisedLiabilitiesDefinedBenefitPlan", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-129": { "value": "222000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentProvisions", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-130": { "value": "266000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentProvisions", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-131": { "value": "10335000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentLiabilities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-132": { "value": "10950000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentLiabilities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-133": { "value": "21797000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Liabilities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-134": { "value": "22849000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Liabilities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-135": { "value": "6029000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:NetAssetsLiabilities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-136": { "value": "6642000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:NetAssetsLiabilities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-137": { "value": "91000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:IssuedCapital", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-138": { "value": "97000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:IssuedCapital", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-139": { "value": "5849000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:SharePremiumAndCapitalRedemption", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-140": { "value": "5843000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:SharePremiumAndCapitalRedemption", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-141": { "value": "-479000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:RetainedEarnings", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-142": { "value": "-674000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:RetainedEarnings", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-143": { "value": "-19000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ReserveOfExchangeDifferencesOnTranslation", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-144": { "value": "755000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ReserveOfExchangeDifferencesOnTranslation", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-145": { "value": "5442000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:EquityAttributableToOwnersOfParent", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-146": { "value": "6021000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:EquityAttributableToOwnersOfParent", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-147": { "value": "587000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncontrollingInterests", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-148": { "value": "621000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncontrollingInterests", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-149": { "value": "6029000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-150": { "value": "6642000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-2": { "value": "The financial statements on pages 145 to 229 were approved by the Board of Directors on 18 November 2024 and signed on its behalf by: Lukas Paravicini Director ", "dimensions": { "concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-151": { "value": "97000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-152": { "value": "5843000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-153": { "value": "-674000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-154": { "value": "755000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-155": { "value": "6021000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-156": { "value": "621000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-157": { "value": "6642000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-158": { "value": "0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-159": { "value": "0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-160": { "value": "2613000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-161": { "value": "0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-162": { "value": "2613000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-163": { "value": "134000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-164": { "value": "2747000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-165": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnRetranslationOfNetAssets", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-166": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnRetranslationOfNetAssets", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-167": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnRetranslationOfNetAssets", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-168": { "value": "-1235000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnRetranslationOfNetAssets", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-169": { "value": "-1235000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnRetranslationOfNetAssets", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-170": { "value": "-25000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnRetranslationOfNetAssets", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-171": { "value": "-1260000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnRetranslationOfNetAssets", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-172": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnNetInvestmentHedges", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-173": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnNetInvestmentHedges", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-174": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnNetInvestmentHedges", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-175": { "value": "540000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnNetInvestmentHedges", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-176": { "value": "540000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnNetInvestmentHedges", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-177": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnNetInvestmentHedges", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-178": { "value": "540000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnNetInvestmentHedges", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-179": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnQuasiEquityLoans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-180": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnQuasiEquityLoans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-181": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnQuasiEquityLoans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-182": { "value": "118000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnQuasiEquityLoans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-183": { "value": "118000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnQuasiEquityLoans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-184": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnQuasiEquityLoans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-185": { "value": "118000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnQuasiEquityLoans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-186": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:HyperinflationAdjustmentInTheYear", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-187": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:HyperinflationAdjustmentInTheYear", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-188": { "value": "6000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:HyperinflationAdjustmentInTheYear", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-189": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:HyperinflationAdjustmentInTheYear", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-190": { "value": "6000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:HyperinflationAdjustmentInTheYear", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-191": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:HyperinflationAdjustmentInTheYear", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-192": { "value": "6000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:HyperinflationAdjustmentInTheYear", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-193": { "value": "-0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CurrentTaxOnHedgeOfNetInvestmentsAndQuasiEquityLoans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-194": { "value": "-0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CurrentTaxOnHedgeOfNetInvestmentsAndQuasiEquityLoans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-195": { "value": "-0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CurrentTaxOnHedgeOfNetInvestmentsAndQuasiEquityLoans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-196": { "value": "197000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CurrentTaxOnHedgeOfNetInvestmentsAndQuasiEquityLoans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-197": { "value": "197000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CurrentTaxOnHedgeOfNetInvestmentsAndQuasiEquityLoans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-198": { "value": "-0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CurrentTaxOnHedgeOfNetInvestmentsAndQuasiEquityLoans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-199": { "value": "197000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CurrentTaxOnHedgeOfNetInvestmentsAndQuasiEquityLoans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-200": { "value": "0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-201": { "value": "0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-202": { "value": "-99000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-203": { "value": "0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-204": { "value": "-99000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-205": { "value": "0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-206": { "value": "-99000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-207": { "value": "-0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:DeferredTaxRelatingToNetActuarialGainsLossesOnRetirementBenefits", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-208": { "value": "-0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:DeferredTaxRelatingToNetActuarialGainsLossesOnRetirementBenefits", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-209": { "value": "-37000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:DeferredTaxRelatingToNetActuarialGainsLossesOnRetirementBenefits", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-210": { "value": "-0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:DeferredTaxRelatingToNetActuarialGainsLossesOnRetirementBenefits", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-211": { "value": "-37000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:DeferredTaxRelatingToNetActuarialGainsLossesOnRetirementBenefits", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-212": { "value": "-0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:DeferredTaxRelatingToNetActuarialGainsLossesOnRetirementBenefits", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-213": { "value": "-37000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:DeferredTaxRelatingToNetActuarialGainsLossesOnRetirementBenefits", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-214": { "value": "0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-215": { "value": "0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-216": { "value": "-56000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-217": { "value": "-774000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-218": { "value": "-830000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-219": { "value": "-25000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-220": { "value": "-855000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-221": { "value": "0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-222": { "value": "0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-223": { "value": "2557000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-224": { "value": "-774000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-225": { "value": "1783000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-226": { "value": "109000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-227": { "value": "1892000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-228": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CostsOfEmployeesServicesCompensatedByShareSchemes", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-229": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CostsOfEmployeesServicesCompensatedByShareSchemes", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-230": { "value": "45000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CostsOfEmployeesServicesCompensatedByShareSchemes", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-231": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CostsOfEmployeesServicesCompensatedByShareSchemes", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-232": { "value": "45000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CostsOfEmployeesServicesCompensatedByShareSchemes", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-233": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CostsOfEmployeesServicesCompensatedByShareSchemes", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-234": { "value": "45000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CostsOfEmployeesServicesCompensatedByShareSchemes", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-235": { "value": "-0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CurrentTaxOnShareBasedPayments", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-236": { "value": "-0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CurrentTaxOnShareBasedPayments", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-237": { "value": "-4000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CurrentTaxOnShareBasedPayments", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-238": { "value": "-0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CurrentTaxOnShareBasedPayments", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-239": { "value": "-4000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CurrentTaxOnShareBasedPayments", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-240": { "value": "-0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CurrentTaxOnShareBasedPayments", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-241": { "value": "-4000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CurrentTaxOnShareBasedPayments", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-242": { "value": "6000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-243": { "value": "-6000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-244": { "value": "1115000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-245": { "value": "-0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-246": { "value": "1115000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-247": { "value": "-0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-248": { "value": "1115000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-249": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ChangesInNonControllingInterests", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-250": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ChangesInNonControllingInterests", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-251": { "value": "-4000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ChangesInNonControllingInterests", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-252": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ChangesInNonControllingInterests", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-253": { "value": "-4000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ChangesInNonControllingInterests", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-254": { "value": "-7000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ChangesInNonControllingInterests", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-255": { "value": "-11000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ChangesInNonControllingInterests", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-256": { "value": "-0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:DeferredTaxOnShareBasedPayments", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-257": { "value": "-0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:DeferredTaxOnShareBasedPayments", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-258": { "value": "-2000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:DeferredTaxOnShareBasedPayments", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-259": { "value": "-0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:DeferredTaxOnShareBasedPayments", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-260": { "value": "-2000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:DeferredTaxOnShareBasedPayments", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-261": { "value": "-0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:DeferredTaxOnShareBasedPayments", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-262": { "value": "-2000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:DeferredTaxOnShareBasedPayments", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-263": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:RemeasurementOfPutCallOption", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-264": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:RemeasurementOfPutCallOption", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-265": { "value": "5000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:RemeasurementOfPutCallOption", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-266": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:RemeasurementOfPutCallOption", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-267": { "value": "5000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:RemeasurementOfPutCallOption", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-268": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:RemeasurementOfPutCallOption", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-269": { "value": "5000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:RemeasurementOfPutCallOption", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-270": { "value": "-0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-271": { "value": "-0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-272": { "value": "1299000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-273": { "value": "-0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-274": { "value": "1299000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-275": { "value": "136000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-276": { "value": "1435000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-277": { "value": "91000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-278": { "value": "5849000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-279": { "value": "-479000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-280": { "value": "-19000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-281": { "value": "5442000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-282": { "value": "587000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-283": { "value": "6029000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-284": { "value": "103000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-285": { "value": "5837000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-286": { "value": "-443000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-287": { "value": "1363000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-288": { "value": "6860000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-289": { "value": "613000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-290": { "value": "7473000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-291": { "value": "0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-292": { "value": "0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-293": { "value": "2328000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-294": { "value": "0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-295": { "value": "2328000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-296": { "value": "128000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-297": { "value": "2456000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-298": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnRetranslationOfNetAssets", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-299": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnRetranslationOfNetAssets", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-300": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnRetranslationOfNetAssets", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-301": { "value": "-942000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnRetranslationOfNetAssets", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-302": { "value": "-942000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnRetranslationOfNetAssets", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-303": { "value": "-15000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnRetranslationOfNetAssets", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-304": { "value": "-957000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnRetranslationOfNetAssets", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-305": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnNetInvestmentHedges", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-306": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnNetInvestmentHedges", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-307": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnNetInvestmentHedges", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-308": { "value": "427000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnNetInvestmentHedges", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-309": { "value": "427000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnNetInvestmentHedges", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-310": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnNetInvestmentHedges", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-311": { "value": "427000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnNetInvestmentHedges", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-312": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnQuasiEquityLoans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-313": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnQuasiEquityLoans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-314": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnQuasiEquityLoans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-315": { "value": "22000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnQuasiEquityLoans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-316": { "value": "22000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnQuasiEquityLoans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-317": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnQuasiEquityLoans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-318": { "value": "22000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ExchangeMovementsOnQuasiEquityLoans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-319": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:HyperinflationAdjustmentInTheYear", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-320": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:HyperinflationAdjustmentInTheYear", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-321": { "value": "5000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:HyperinflationAdjustmentInTheYear", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-322": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:HyperinflationAdjustmentInTheYear", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-323": { "value": "5000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:HyperinflationAdjustmentInTheYear", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-324": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:HyperinflationAdjustmentInTheYear", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-325": { "value": "5000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:HyperinflationAdjustmentInTheYear", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-326": { "value": "-0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CurrentTaxOnHedgeOfNetInvestmentsAndQuasiEquityLoans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-327": { "value": "-0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CurrentTaxOnHedgeOfNetInvestmentsAndQuasiEquityLoans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-328": { "value": "-0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CurrentTaxOnHedgeOfNetInvestmentsAndQuasiEquityLoans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-329": { "value": "115000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CurrentTaxOnHedgeOfNetInvestmentsAndQuasiEquityLoans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-330": { "value": "115000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CurrentTaxOnHedgeOfNetInvestmentsAndQuasiEquityLoans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-331": { "value": "-0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CurrentTaxOnHedgeOfNetInvestmentsAndQuasiEquityLoans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-332": { "value": "115000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CurrentTaxOnHedgeOfNetInvestmentsAndQuasiEquityLoans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-333": { "value": "0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-334": { "value": "0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-335": { "value": "-376000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-336": { "value": "0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-337": { "value": "-376000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-338": { "value": "0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-339": { "value": "-376000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-340": { "value": "-0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:DeferredTaxRelatingToNetActuarialGainsLossesOnRetirementBenefits", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-341": { "value": "-0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:DeferredTaxRelatingToNetActuarialGainsLossesOnRetirementBenefits", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-342": { "value": "-135000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:DeferredTaxRelatingToNetActuarialGainsLossesOnRetirementBenefits", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-343": { "value": "-0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:DeferredTaxRelatingToNetActuarialGainsLossesOnRetirementBenefits", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-344": { "value": "-135000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:DeferredTaxRelatingToNetActuarialGainsLossesOnRetirementBenefits", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-345": { "value": "-0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:DeferredTaxRelatingToNetActuarialGainsLossesOnRetirementBenefits", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-346": { "value": "-135000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:DeferredTaxRelatingToNetActuarialGainsLossesOnRetirementBenefits", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-347": { "value": "0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-348": { "value": "0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-349": { "value": "-236000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-350": { "value": "-608000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-351": { "value": "-844000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-352": { "value": "-15000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-353": { "value": "-859000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-354": { "value": "0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-355": { "value": "0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-356": { "value": "2092000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-357": { "value": "-608000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-358": { "value": "1484000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-359": { "value": "113000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-360": { "value": "1597000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-361": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CostsOfEmployeesServicesCompensatedByShareSchemes", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-362": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CostsOfEmployeesServicesCompensatedByShareSchemes", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-363": { "value": "41000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CostsOfEmployeesServicesCompensatedByShareSchemes", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-364": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CostsOfEmployeesServicesCompensatedByShareSchemes", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-365": { "value": "41000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CostsOfEmployeesServicesCompensatedByShareSchemes", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-366": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CostsOfEmployeesServicesCompensatedByShareSchemes", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-367": { "value": "41000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CostsOfEmployeesServicesCompensatedByShareSchemes", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-368": { "value": "6000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-369": { "value": "-6000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-370": { "value": "1006000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-371": { "value": "-0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-372": { "value": "1006000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-373": { "value": "-0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-374": { "value": "1006000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-375": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ChangesInNonControllingInterests", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-376": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ChangesInNonControllingInterests", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-377": { "value": "1000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ChangesInNonControllingInterests", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-378": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ChangesInNonControllingInterests", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-379": { "value": "1000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ChangesInNonControllingInterests", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-380": { "value": "-1000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ChangesInNonControllingInterests", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-381": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:ChangesInNonControllingInterests", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-382": { "value": "-0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-383": { "value": "-0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-384": { "value": "-1000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-385": { "value": "-0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-386": { "value": "-1000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-387": { "value": "-0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-388": { "value": "-1000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-389": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:RegistrationOfPutCallOption", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-390": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:RegistrationOfPutCallOption", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-391": { "value": "-48000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:RegistrationOfPutCallOption", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-392": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:RegistrationOfPutCallOption", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-393": { "value": "-48000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:RegistrationOfPutCallOption", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-394": { "value": "0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:RegistrationOfPutCallOption", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-395": { "value": "-48000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:RegistrationOfPutCallOption", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-396": { "value": "-0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-397": { "value": "-0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-398": { "value": "1312000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-399": { "value": "-0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-400": { "value": "1312000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-401": { "value": "104000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-402": { "value": "1416000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-403": { "value": "97000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:GBP" } }, "fact-404": { "value": "5843000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "imperialbrandsplc:SharePremiumAndCapitalRedemptionMember", "unit": "iso4217:GBP" } }, "fact-405": { "value": "-674000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-406": { "value": "755000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:GBP" } }, "fact-407": { "value": "6021000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:GBP" } }, "fact-408": { "value": "621000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:GBP" } }, "fact-409": { "value": "6642000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-410": { "value": "3554000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossFromOperatingActivities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-411": { "value": "3402000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossFromOperatingActivities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-412": { "value": "-9000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForDividendIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-413": { "value": "-7000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForDividendIncome", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-414": { "value": "647000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-415": { "value": "632000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-416": { "value": "-13000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-417": { "value": "-39000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-418": { "value": "-0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-419": { "value": "-1000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-420": { "value": "-45000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInEmployeeBenefitLiabilities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-421": { "value": "-29000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInEmployeeBenefitLiabilities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-422": { "value": "46000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForSharebasedPayments", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-423": { "value": "31000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForSharebasedPayments", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-424": { "value": "-1000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherAdjustmentsForNoncashItems", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-425": { "value": "40000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherAdjustmentsForNoncashItems", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-426": { "value": "-102000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForProvisions", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-427": { "value": "21000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForProvisions", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-428": { "value": "4095000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-429": { "value": "4066000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-430": { "value": "205000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInInventories", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-431": { "value": "-551000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInInventories", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-432": { "value": "-318000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-433": { "value": "46000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-434": { "value": "213000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-435": { "value": "158000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-436": { "value": "-100000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInWorkingCapital", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-437": { "value": "347000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInWorkingCapital", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-438": { "value": "-888000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForIncomeTaxExpense", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-439": { "value": "-590000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForIncomeTaxExpense", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-440": { "value": "3307000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-441": { "value": "3129000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-442": { "value": "15000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:InterestReceivedClassifiedAsInvestingActivities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-443": { "value": "10000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:InterestReceivedClassifiedAsInvestingActivities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-444": { "value": "50000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-445": { "value": "71000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-446": { "value": "371000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-447": { "value": "325000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-448": { "value": "42000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-449": { "value": "183000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-450": { "value": "-348000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-451": { "value": "-427000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-452": { "value": "49000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:AcquisitionOfNonControllingInterestsClassifiedAsFinancingActivities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-453": { "value": "-0", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:AcquisitionOfNonControllingInterestsClassifiedAsFinancingActivities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-454": { "value": "431000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:InterestPaidClassifiedAsFinancingActivities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-455": { "value": "417000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:InterestPaidClassifiedAsFinancingActivities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-456": { "value": "93000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-457": { "value": "92000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-458": { "value": "3848000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-459": { "value": "1462000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-460": { "value": "3948000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-461": { "value": "1518000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-462": { "value": "-34000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CashFlowsRelatingToDerivativeFinancialInstrumentsClassifiedAsFinancingActivities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-463": { "value": "-64000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:CashFlowsRelatingToDerivativeFinancialInstrumentsClassifiedAsFinancingActivities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-464": { "value": "1020000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:RepurchaseOfSharesClassifiedAsFinancingActivities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-465": { "value": "1006000000", "decimals": -6, "dimensions": { "concept": "imperialbrandsplc:RepurchaseOfSharesClassifiedAsFinancingActivities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-466": { "value": "136000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-467": { "value": "104000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-468": { "value": "1299000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-469": { "value": "1312000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-470": { "value": "-3162000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-471": { "value": "-3051000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-472": { "value": "-203000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-473": { "value": "-349000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-474": { "value": "1345000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-475": { "value": "1850000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-476": { "value": "-64000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-477": { "value": "-156000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2022-10-01T00:00:00/2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-478": { "value": "1078000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2024-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-479": { "value": "1345000000", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-483": { "value": "
1. ACCOUNTING POLICIES
Basis of preparation
The consolidated financial statements comprise the results of
the Company, a public company limited by shares, incorporated
in England and Wales, and its subsidiary undertakings, together
with the Group's share of the results of its associates and joint
arrangements. The Company\u2019s registered number is 3236483
and its registered address is 121 Winterstoke Road, Bristol,
BS3 2LL.
The consolidated financial statements have been prepared in
accordance with UK-adopted International Accounting
Standards (\u201cUK-adopted IAS\u201d).
The financial statements have been prepared under the
historical cost convention except where fair value
measurement is required under IFRS Accounting Standards
(\"IFRS\") as described below in the accounting policies on
financial instruments, and on a going concern basis.
The consolidated financial statements are presented in pounds
sterling, the presentation currency of the Group, and the
functional currency of the Company. All values are rounded to
the nearest one million (\u00a31 million) except where otherwise
indicated.
Alternative performance measures
Information on Alternative Performance Measures (APMs) is
presented within the Supplementary Information section of
this document.
Basis for going concern
The Group\u2019s policy is to ensure that we always have sufficient
capital markets funding and committed bank facilities in place
to meet foreseeable peak borrowing requirements.
The Group recognises there can be uncertainty in the external
environment, however, during past periods of disruption (e.g.
COVID-19, political uncertainty in Russia, Ukraine and the
Middle East), the Group effectively managed operations across
the world and has proved it has an established mechanism to
operate efficiently despite this uncertainty. The Directors
consider that a one-off discrete event with immediate cash
outflow is of greatest concern to the short-term liquidity of
the Group.
The Directors have assessed the emerging and principal risks
of the business, including stress testing a range of different
scenarios that may affect the business. These included
scenarios which examined the implications of:
\u2022 A one-off discrete event resulting in immediate cash outflow
such as unexpected duty and tax payments; and/or other
legal and regulatory risks materialising of c.\u00a3500 million
\u2022 A rapid and lasting deterioration to the Group\u2019s profitability
because markets become closed to tobacco products or there
are sustained failures to our tobacco manufacturing and
supply chains. These assumed a permanent reduction in
profitability of 10% from 1 October 2024
The scenario planning also considered mitigation actions
including reductions to capital expenditure, dividend payments
and share buyback programme. There are additional actions
that were not modelled but could be taken including other cost
mitigations such as staff redundancies, working capital
management, retrenchment of leases and discussions with
lenders about capital structure.
Under the reverse stress test scenario, after considering
mitigation actions including reductions of capital expenditure,
dividend payments and share buyback programme, we have
modelled that a 37% EBITDA reduction would lead the Group to
have sufficient headroom until 30 November 2025.
The Group believes this reverse stress test scenario to be
remote given the relatively small impact on our trading
performance and bad debt levels during the COVID-19
pandemic and political uncertainty with regard to Ukraine and
Russia. In this scenario the Group would implement a number
of mitigating actions including revoking the uncommitted
dividend, pausing the share buyback and reducing
discretionary spend such as capital expenditure.
Based on its review of future cash flows covering the period
through to 30 November 2025, and having assessed the
principal risks facing the Group, the Board is of the opinion that
the Group as a whole and Imperial Brands PLC have adequate
resources to meet their operational needs from the date of this
report for a period of twelve months from the date of approval
of the financial statements and concludes that it is appropriate
to prepare the financial statements on a going concern basis.
Imperial Brands PLC (the Company) provides guarantees to a
number of subsidiaries under section 479A of the Companies
Act 2006, whereby the subsidiaries, incorporated in the UK and
Ireland, are exempt from the requirements of the Act relating to
the audit of individual accounts for the financial year ending 30
September 2024. See note VIII Guarantees of the Imperial
Brands PLC financial statements for further details.
An amendment to IAS 1 Presentation of Financial Statements
requires the disclosure of material accounting policy
information as part of the notes to the accounts and these are
set out below. Accounting policy information is material if,
when considered together with other information included in
an entity's financial statements, it can reasonably be expected
to influence a decision that the primary users of general
purpose financial statements make on the basis of those
financial statements.
The material accounting policies, which have been applied
consistently other than where new policies (detailed below)
have been adopted, are set out below.
Basis of consolidation
Subsidiaries are those entities controlled by the Group. Control
exists when the Group is exposed to, or has the rights to,
variable returns from its involvement with the entity and has
the ability to affect those returns through its power over the
entity. The financial statements of subsidiaries are included in
the consolidated financial statements from the date that
control commences until the date that control ceases. Where
necessary, accounting policies of subsidiaries are changed to
ensure consistency with the policies adopted by the Group.
The acquisition method of accounting is used to account for the
purchase of subsidiaries. The excess of the value transferred to
the seller in return for control of the acquired business together
with the fair value of any previously held equity interest in that
business over the Group\u2019s share of the fair value of the
identifiable net assets is recorded as goodwill.
Intragroup transactions, balances and unrealised gains on
transactions between Group companies are eliminated.
Unrealised losses are also eliminated unless costs cannot
be recovered.
Material accounting policies
Foreign currency
Items included in the financial statements of each Group
company are measured using the currency of the primary
economic environment in which the company operates (the
functional currency).
The income and cash flow statements of Group companies
using non-sterling functional currencies are translated to
sterling (the Group\u2019s presentational currency) at average rates
of exchange in each period. Assets and liabilities of these
companies are translated at rates of exchange ruling at the
balance sheet date. The differences between retained profits
and losses translated at average and closing rates are taken to
reserves, as are differences arising on the retranslation of the
net assets at the beginning of the year.
Transactions in currencies other than a company\u2019s functional
currency are initially recorded at the exchange rate ruling at
the date of the transaction. Foreign exchange gains and losses
resulting from the settlement of such transactions and from the
translation at exchange rates ruling at the balance sheet date of
monetary assets and liabilities denominated in foreign
currencies are recognised in the consolidated income
statement with exchange differences arising on trading
transactions being reported in operating profit, and those
arising on financing transactions being reported in net finance
costs unless as a result of net investment hedging they are
reported in other comprehensive income.
The Group designates as net investment hedges certain
external borrowings and derivatives up to the value of the net
assets of Group companies that use non-sterling functional
currencies after deducting permanent intercompany loans.
Gains or losses on these hedges that are regarded as highly
effective are transferred to other comprehensive income, where
they offset gains or losses on translation of the net investments
that are recorded in equity, in the exchange translation reserve.
The Group\u2019s financial results are principally exposed to euro
and US dollar exchange rates, which are detailed in the
table below.
2024
2023
Closing rate
Average rate
Closing rate
Average rate
Euro
1.1985
1.1694
1.1545
1.1487
US dollar
1.3384
1.2681
1.2214
1.2264
Revenue recognition
For the Tobacco & Next Generation Products (Tobacco & NGP)
business, revenue comprises the invoiced value for the sale of
goods net of sales taxes, rebates and discounts. Revenue is
based on the completion of performance obligations that
constitute the delivery of goods. The performance obligation is
recognised as complete at the point in time when a Group
company has delivered products to the customer, the customer
has accepted the products and collectability of the related
receivables is reasonably assured.
The Group recognises income arising from the licensing of
intellectual property, occurring in the ordinary course of
business, which is treated as revenue. Licensing revenue will be
recognised over the period of the licence. The licences granted
are distinct from other promises in the contract.
For the Distribution business, revenue comprises the invoiced
value for the sale of goods and services net of sales taxes,
rebates and discounts when goods have been delivered or
distribution services have been provided. The Distribution
business only recognises commission revenue on purchase
and sale transactions in which it acts as a commission agent.
Distribution and marketing commissions are included in
revenue. Revenue is recognised on products on consignment
when these are sold by the consignee. The performance
obligations associated with distribution services, which include
fees for distributing certain third-party products, are linked to
the successful distribution of products for customers.
Payments are made to both direct and indirect customers for
rebates, discounts and other promotional activities. Direct
customers are those to which the Group supplies goods or
services. Indirect customers are other entities within the supply
chain to the end consumer. Rebates and discounts are
deducted from revenue. Where the contract with customers has
an entitlement to variable consideration due to the existence of
retrospective rebates and discounts, revenue is estimated based
on the amount of consideration expected to be received. This
estimation is a determination of the most likely amount to be
received using all known factors including historic experience.
Typically, there is a high degree of certainty over the amount of
retrospective rebates/discounts paid due to relatively low year-
on-year variations in the volume and pattern of product sales.
As the provision of distribution services typically involves
product delivery tasks undertaken in a short period of time,
revenue and any associated rebates and discounts relating to
these services do not normally span an accounting year end.
Payments for promotional activities will also be deducted from
revenue where the payments relate to goods or service that are
closely related to or indistinct from associated sales of goods or
services to that customer. The calculated costs are accrued and
accounted for as incurred and matched as a deduction from the
associated revenues (i.e. excluded from revenues reported in
the Group\u2019s consolidated income statement).
Duty and similar items
Duty and similar items includes duty and levies having the
characteristics of duty. In countries where duty is a production
tax, duty is included in revenue and in cost of sales in the
consolidated income statement. Duty is regarded as a sales tax
and excluded from revenue where:
\u2022 duty becomes payable to the tax authority when the goods
are sold;
\u2022 there is an obligation to change the sales price when a
change in the rate of duty is imposed; and
\u2022 there is a requirement to identify the duty separately on sales
information such as invoices.
Payments made in the USA under the Master Settlement
Agreement are recognised in other cost of sales; for further
disclosure see note 30 contingent liabilities.
Taxes
Current tax is the expected tax payable on the taxable income
for the year, using tax rates enacted or substantively enacted at
the balance sheet date, and any adjustments to tax payable in
respect of previous years. Current tax assets and liabilities are
offset to the extent the entity has a legally enforceable right to
set off the recognised amounts, and it intends to either settle on
a net basis or realise the asset and settle the liability
simultaneously.
Uncertain tax positions are assessed and measured on an issue
by issue basis within the jurisdictions where we operate using
management\u2019s estimate of the most likely outcome. Where
management determines that a greater than 50% probability
exists that the tax authorities would accept the position taken
in the tax return, amounts are recognised in the consolidated
financial statements on that basis. Where the amount of tax
payable or recoverable is uncertain, the Group recognises a
liability or asset based on either: management\u2019s judgement of
the most likely outcome; or, when there is a wide range of
possible outcomes, a probability weighted average approach.
The Group recognises interest on late paid taxes as part of
financing costs. The Group recognises penalties, if applicable,
as part of administrative and other expenses.
Deferred tax is provided in full on temporary differences
between the carrying amount of assets and liabilities in the
financial statements and the tax base, except if it arises from
the initial recognition of an asset or liability in a transaction,
other than a business combination, that at the time of the
transaction affects neither accounting nor taxable profit or
loss and does not give rise to equal taxable and deductible
temporary differences. Deferred tax is provided on temporary
differences arising on investments in subsidiaries, except
where the timing of the reversal of the temporary difference is
controlled by the Group and it is probable that the temporary
difference will not reverse in the foreseeable future. Deferred
tax assets are recognised only to the extent that it is probable
that future taxable profits will be available against which the
assets can be realised. Deferred tax is determined using the tax
rates that have been enacted or substantively enacted at the
balance sheet date, and are expected to apply when the
deferred tax liability is settled or the deferred tax asset
is realised.
Deferred tax assets and deferred tax liabilities are offset to the
extent the entity has a legally enforceable right to set off
current tax assets against current tax liabilities and the
deferred tax assets and the deferred tax liabilities relate to
income taxes levied by the same taxation authority on either:
the same taxable entity or different taxable entities which
intend either to settle current tax liabilities and assets on a
net basis, or to realise the assets and settle the liabilities
simultaneously, in each future period in which significant
amounts of deferred tax liabilities or assets are expected to be
settled or recovered.
Dividends
Final dividends are recognised as a liability in the period in
which the dividends as approved by the Board of Directors are
approved by shareholders, whereas interim dividends as
approved by the Board of Directors are recognised in the period
in which the dividends are paid.
Intangible assets - goodwill
Goodwill represents the excess of value transferred to the seller
in return for control of the acquired business together with the
fair value of any previously held equity interest in that business
over the Group\u2019s share of the fair value of the identifiable net
assets.
Goodwill is tested at least annually for impairment and carried
at cost less accumulated impairment losses. Any impairment is
recognised immediately in the consolidated income statement
and cannot be subsequently reversed. If any negative goodwill
arises this is recognised immediately in the consolidated
income statement. For the purpose of impairment testing,
goodwill is allocated to groups of cash-generating units that are
expected to benefit from the business combination in which
the goodwill arose.
Intangible assets - other
Other intangible assets are initially recognised in the
consolidated balance sheet at historical cost unless they are
acquired as part of a business combination, in which case they
are initially recognised at fair value. They are shown in the
balance sheet at historical cost less accumulated amortisation
and impairment. The Group does not operate a revaluation
model and therefore assets are not subject to ongoing
revaluations.
These assets consist mainly of acquired trademarks,
intellectual property, product development, acquired customer
relationships and computer software. The Davidoff cigarette
trademark is considered by the Directors to have an indefinite
life based on the fact that it is an established international
brand with global potential. Trademarks with indefinite lives
are not amortised but are reviewed annually for impairment.
The carrying value of Davidoff is subject to an annual
impairment review under the requirements of IAS 36 as the
Group does not currently foresee a limit to the period over
which the asset is expected to generate net cash inflows.
The most recent assessment indicates that the carrying value
is not impaired.
Intellectual property (including trademarks), product
development, supply agreements (including customer
relationships) and computer software are amortised over
their estimated useful lives as follows:
Intellectual property 5 - 30 years straight line
Supply agreements 3 - 15 years straight line
Software 3 - 10 years straight line
Product development 3 - 10 years straight line
Property, plant and equipment
Property, plant and equipment are recognised in the
consolidated balance sheet at historical cost or at their initial
fair value where they are acquired as part of an acquisition,
subject to depreciation or impairment. The Group does not
operate a revaluation model and therefore assets are not
subject to ongoing revaluations.
Land is not depreciated and depreciation on assets under
construction does not commence until they are complete and
available for use. Depreciation is provided on other property,
plant and equipment so as to write down the initial cost of each
asset to its residual value over its estimated useful life as
follows:
Property up to 50 years straight line
Plant and
equipment 2 - 20 years straight line/reducing balance
Fixtures and
motor vehicles 2 - 15 years straight line
The assets\u2019 residual values and useful lives are reviewed and, if
appropriate, adjusted at each balance sheet date.
Financial instruments and hedging
Financial assets and financial liabilities, in respect of financial
instruments, are recognised on the Group\u2019s consolidated
balance sheet when the Group becomes a party to the
contractual provisions of the instrument.
Receivables held under a hold to collect business model are
stated at amortised cost. Receivables held under a hold to sell
business model, which are expected to be sold via a non-
recourse factoring arrangement, are separately classified as fair
value through profit or loss, within trade and other receivables.
The calculation of impairment provisions is subject to an
expected credit loss model, involving a prediction of future
credit losses based on past loss patterns. The approach involves
the recognition of provisions relating to potential future
impairments, in addition to impairments that have already
occurred. The expected credit loss approach involves modelling
of historic loss rates, and consideration of the level of future
credit risk. Expected loss rates are then applied to the gross
receivables balance to calculate the impairment provision.
Cash and cash equivalents include cash in hand and deposits
held on call, together with other short-term highly liquid
investments.
Non-derivative financial liabilities, including borrowings and
trade payables, are stated at amortised cost. For borrowings,
their carrying value includes accrued interest payable, as well
as unamortised issue costs. Current liabilities include amounts
where the entity does not have an unconditional right to defer
settlement of the liability for at least 12 months after the
balance sheet date.
The Group transacts derivative financial instruments to
manage the underlying exposure to foreign exchange and
interest rate risks. The Group does not transact derivative
financial instruments for trading purposes. Derivative financial
instruments are initially recorded at fair value. Derivative
financial assets and liabilities are included in the consolidated
balance sheet at fair value, and include accrued interest
receivable and payable where relevant. However, as the Group
has decided (as permitted under IFRS 9) not to cash flow or fair
value hedge account for its derivative financial instruments,
changes in fair values are recognised in the consolidated
income statement in the period in which they arise unless the
derivative qualifies and has been designated as a net
investment hedging instrument in which case the changes in
fair values, attributable to foreign exchange, are recognised in
other comprehensive income.
Right of use assets
The Group has lease contracts relating to property and other
assets (which predominantly relates to motor vehicles).
The Group recognises right of use assets, at the
commencement date of the lease (i.e. the date the underlying
asset is available for use). Right of use assets are measured at
cost, less any accumulated depreciation and impairment
losses, and adjusted for any remeasurement of lease liabilities.
The cost of right of use assets includes the amount of lease
liabilities recognised, initial direct costs incurred, and lease
payments made at or before the commencement date less any
lease incentives received. Unless the Group is reasonably
certain to obtain ownership of the leased asset at the end of the
lease term, the recognised right of use asset is depreciated on a
straight-line basis over the shorter of its estimated useful life
and the lease term. Right of use assets are subject to
impairment.
Lease liabilities
At the commencement date of the lease, the Group recognises
lease liabilities measured at the present value of lease
payments to be made over the lease term. The lease payments
include fixed payments less any lease incentives receivable,
variable lease payments which depend on an index or a rate,
and amounts expected to be paid under residual value
guarantees. Lease payments include the exercise of purchase
options if determined reasonably certain to be exercised and
termination payments if the lease term reflects the exercise of
an option to terminate.
In calculating the present value of lease payments, the Group
uses the incremental borrowing rate, defined as the rate of
interest that a lessee would have to pay to borrow over a similar
term, and with a similar security, the funds necessary to obtain
an asset of a similar value to the right of use asset in a similar
economic environment, at the lease commencement date if the
interest rate implicit in the lease is not readily determinable.
After the commencement date, the amount of lease liabilities is
increased to reflect the accumulation of interest and reduced
for the lease payments made. In addition, the carrying amount
of lease liabilities is remeasured if there is a modification, a
change in the lease term, a change in the in-substance fixed
lease payments or a change in the assessment to purchase the
underlying asset.
Lease payments on short-term leases and leases of low value
assets are recognised as an expense on a straight line basis
over the lease term in cost of sales or distribution, advertising
and selling costs.
Short-term leases, leases of low value assets and
practical expedients applied
The Group has applied a number of practical expedients
permitted by IFRS 16 Leases. These include:
\u2022 the exclusion of leases where the lease term ends within 12
months of the commencement of the lease or date of initial
application; and
\u2022 the exclusion of leases of low value assets, defined as those
of less than US$ 5,000.
Inventories
Inventories are stated at the lower of cost and net realisable
value. Cost is determined using the first in first out (FIFO)
method. The cost of finished goods and work in progress
comprises raw materials, direct labour, other direct costs and
related production overheads (based on normal operating
capacity). Net realisable value is the estimated selling price in
the ordinary course of business, less the estimated costs of
completion and selling expenses. Inventory is considered for
obsolescence or other impairment issues and an associated
provision is booked where necessary.
Leaf tobacco inventory which has an operating cycle that
exceeds 12 months is classified as a current asset, consistent
with recognised industry practice.
Provisions
A provision is recognised in the consolidated balance sheet
when the Group has a legal or constructive obligation as a result
of a past event, it is more likely than not that an outflow of
resources will be required to settle that obligation, and a reliable
estimate of the amount can be made.
A provision for restructuring is recognised when the Group has
approved a detailed formal restructuring plan, and the
restructuring has either commenced or has been publicly
announced, and it is more likely than not that the plan will be
implemented, and the amount required to settle any obligations
arising can be reliably estimated. Future operating losses are
not provided for.
Where there are a number of similar obligations, the likelihood
that an outflow will be required in settlement is determined by
considering the class of obligations as a whole. A provision is
recognised even if the likelihood of an outflow with respect to
any one item included in the same class of obligations may
be small.
Contingent liabilities
Contingent liabilities are possible obligations that arise from
past events and whose existence will be confirmed only by the
occurrence or non-occurrence of one or more uncertain future
events, not wholly within the control of the Group. Contingent
liabilities are not recognised, only disclosed, unless the
possibility of a future outflow of resources is considered remote,
or where a disclosure would seriously prejudice the position of
the Group.
Retirement benefit schemes
For defined benefit schemes, the amount recognised in the
consolidated balance sheet is the difference between the
present value of the defined benefit obligation at the balance
sheet date and the fair value of the scheme assets to the extent
that they are demonstrably recoverable either by refund or a
reduction in future contributions. The defined benefit obligation
is calculated annually by independent actuaries using the
projected unit credit method. The present value of the defined
benefit obligation is determined by discounting the estimated
future cash flows using interest rates of high-quality corporate
bonds that are denominated in the currency in which the
benefits will be paid, and that have terms to maturity
approximating to the terms of the related pension obligation.
The service cost of providing retirement benefits to employees
during the year is charged to operating profit. Past service costs
are recognised immediately in operating profit, unless the
changes to the pension plan are conditional on the employees
remaining in service for a specified period of time.
All actuarial gains and losses, including differences between
actual and expected returns on assets and differences that
arise as a result of changes in actuarial assumptions, are
recognised immediately in full in the statement of
comprehensive income for the period in which they arise. An
interest charge is made in the consolidated income statement
by applying the rate used to discount the defined benefit
obligations to the net defined benefit liability of the schemes.
Interest income and costs arising on defined benefit assets and
liabilities are presented net in the consolidated income
statement. Prior year amounts have been restated having
previously presented gross.
For defined contribution schemes, contributions are recognised
as an employee benefit expense when they are due.
Treasury shares
When the Company purchases its own equity share capital
(treasury shares), the consideration paid, including any directly
attributable incremental costs (net of income taxes), is
deducted on consolidation from equity attributable to owners of
the parent until the shares are reissued or disposed of. When
such shares are subsequently sold or reissued, any
consideration received, net of any directly attributable
incremental transaction costs and the related income tax
effects, increases equity attributable to owners of the parent.
When such shares are cancelled they are transferred to the
capital redemption reserve.
Where the Group enters into a contract with a third party that
contains an obligation to repurchase its own shares for cash or
another financial asset, a financial liability is recognised for the
present value of the redemption amount. One example is an
obligation under a forward contract to repurchase shares in
Imperial Brands PLC for cash. The financial liability is
recognised initially at the present value of the redemption
amount, and is reclassified from equity. Subsequently, the
financial liability is measured in accordance with IFRS 9, and is
revalued at subsequent reporting points as appropriate. If the
contract expires without delivery, the carrying amount of the
financial liability is reclassified to equity.
OTHER ACCOUNTING POLICIES
Joint ventures
The Group applies IFRS 11 Joint Arrangements to all joint
arrangements. Under IFRS 11 investments in joint
arrangements are classified as either joint operations or joint
ventures depending on the contractual rights and obligations of
each investor. The Group has assessed the nature of its joint
arrangements and determined them to be joint ventures. The
financial statements of joint ventures are included in the Group
financial statements using the equity accounting method, with
the Group\u2019s share of net assets included as a single line item
entitled \"Investments accounted for using the equity method\".
In the same way, the Group\u2019s share of earnings is presented in
the consolidated income statement below operating profit
entitled \"Share of profit of investments accounted for using the
equity method\".
Share-based payments
The Group applies the requirements of IFRS 2 Share-based
Payment to both equity-settled and cash-settled share-based
employee compensation schemes. The majority of the Group's
schemes are equity-settled.
Equity-settled share-based payments are measured at fair
value at the date of grant and are expensed over the vesting
period, based on the number of instruments that are expected
to vest. For plans where vesting conditions are based on total
shareholder returns, the fair value at the date of grant reflects
these conditions. Earnings per share and net revenue vesting
conditions are reflected in the estimate of awards that will
eventually vest. For cash-settled share-based payments, a
liability equal to the portion of the services received is
recognised at its current fair value at each balance sheet date.
Where applicable the Group recognises the impact of revisions
to original estimates in the consolidated income statement,
with a corresponding adjustment to equity for equity-settled
schemes and current liabilities for cash-settled schemes. Fair
values are measured using appropriate valuation models,
taking into account the terms and conditions of the awards.
The Group funds the purchase of shares to satisfy rights to
shares arising under share-based employee compensation
schemes. Shares acquired to satisfy those rights are held in
Employee Share Ownership Trusts. The Employee Share
Ownership Trust is a separate entity which is consolidated
within the Group. On consolidation, these shares are accounted
for as a deduction from equity attributable to owners of the
parent. When the rights are exercised, equity is increased by the
amount of any proceeds received by the Employee Share
Ownership Trusts.
Hyperinflation
The Turkish economy was designated hyperinflationary from
April 2022. The Group has applied IAS 29 Financial Reporting in
Hyperinflationary Economies to its Turkish operations with
effect from 1 October 2021. In accordance with IAS 21 The
Effects of Changes in Foreign Exchange Rates, the comparative
figures for the year ended 30 September 2023 have not been
modified. The adjustments required by IAS 29 are set out below.
\u2022 Adjustment of historical cost non-monetary assets and
liabilities from their date of initial recognition to the balance
sheet date (1 October 2021) to reflect the changes in
purchasing power of the currency caused by inflation, as
measured by the official Consumer Price Index (CPI)
published by the Turkish Statistical Institute (TurkStat).
\u2022 Adjustment of the components of the income statement and
cash flow statement for the inflation index since their
generation, with a balancing entry in the income statement
and a reconciling item in the cash flow statement,
respectively.
\u2022 Adjustment of the income statement to reflect the impact of
inflation on holding monetary assets and liabilities in local
currency, where necessary.
\u2022 The financial statements of the Group\u2019s Turkish operations
have been translated into sterling at the closing exchange
rate at 30 September 2024.
\u2022 The impact of adjustments to non-monetary assets
recognising inflation from the adoption date to the closing
balance sheet date, on translation into sterling at the closing
balance sheet rate has been recognised within other
comprehensive income.
The TurkStat CPI index was 2526.16 at 30 September 2024
(1,691.04 at 30 September 2023 and 1,046.89 at 30 September
2022). The inflation index for the year is therefore 1.4939 (2023:
1.6153). The impact on the Group\u2019s results remains immaterial.
New accounting standards
There have been no changes to accounting standards that have
significantly impacted the accounting or disclosures within the
financial statements for the year ended 30 September 2024.
New accounting standards that are effective after the
year ended 30 September 2024
There are a number of amendments and clarifications to IFRS,
effective in future years and, with the exception of IFRS 18
Presentation and Disclosure in Financial Statements, none of
these are expected to significantly impact the Group\u2019s
consolidated results or financial position.
IFRS 18 - Presentation and Disclosure in Financial Statements
This new accounting standard is effective for the year ended 30
September 2028 and will involve a change to the structure of
the primary financial statements. This requires entities to
classify income and expenses into five categories \u2013 operating,
investing, financing, income tax and discontinued operations.
In addition, certain \u201cnon-GAAP\u201d measures \u2013 alternative
performance measures (APMs) \u2013 will now form part of the
audited financial statements, and require mandatory
definitions and reconciliation to GAAP measures. The Group is
presently reviewing the impact of this standard which is
expected to fundamentally change the structure of the
presentation of the Income statement. The Group already
complies with the requirements related to Alternative
Performance Measures through the voluntary disclosures that
are included within the Supplementary Information section of
this report. Therefore, there is expected to be minimal impact
related to APM disclosures.
", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-484": { "value": "Basis of preparation The consolidated financial statements comprise the results of the Company, a public company limited by shares, incorporated in England and Wales, and its subsidiary undertakings, together with the Group's share of the results of its associates and joint arrangements. The Company\u2019s registered number is 3236483 and its registered address is 121 Winterstoke Road, Bristol, BS3 2LL. The consolidated financial statements have been prepared in accordance with UK-adopted International Accounting Standards (\u201cUK-adopted IAS\u201d). The financial statements have been prepared under the historical cost convention except where fair value measurement is required under IFRS Accounting Standards (\"IFRS\") as described below in the accounting policies on financial instruments, and on a going concern basis. The consolidated financial statements are presented in pounds sterling, the presentation currency of the Group, and the functional currency of the Company. All values are rounded to the nearest one million (\u00a31 million) except where otherwise indicated. Alternative performance measures Information on Alternative Performance Measures (APMs) is presented within the Supplementary Information section of this document.", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-530": { "value": "Basis of preparation The consolidated financial statements comprise the results of the Company, a public company limited by shares, incorporated in England and Wales, and its subsidiary undertakings, together with the Group's share of the results of its associates and joint arrangements. The Company\u2019s registered number is 3236483 and its registered address is 121 Winterstoke Road, Bristol, BS3 2LL. The consolidated financial statements have been prepared in accordance with UK-adopted International Accounting Standards (\u201cUK-adopted IAS\u201d). The financial statements have been prepared under the historical cost convention except where fair value measurement is required under IFRS Accounting Standards (\"IFRS\") as described below in the accounting policies on financial instruments, and on a going concern basis. The consolidated financial statements are presented in pounds sterling, the presentation currency of the Group, and the functional currency of the Company. All values are rounded to the nearest one million (\u00a31 million) except where otherwise indicated. Alternative performance measures Information on Alternative Performance Measures (APMs) is presented within the Supplementary Information section of this document.", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-3": { "value": "public company limited by shares", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-4": { "value": "England and Wales", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-480": { "value": "England and Wales", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-5": { "value": "121 Winterstoke Road, Bristol, BS3 2LL", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-560": { "value": "The consolidated financial statements have been prepared in accordance with UK-adopted International Accounting Standards (\u201cUK-adopted IAS\u201d). The financial statements have been prepared under the historical cost convention except where fair value measurement is required under IFRS Accounting Standards (\"IFRS\") as described below in the accounting policies on financial instruments, and on a going concern basis. ", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-561": { "value": "The consolidated financial statements are presented in pounds sterling, the presentation currency of the Group, and the functional currency of the Company. All values are rounded to the nearest one million (\u00a31 million) except where otherwise indicated. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-485": { "value": "Basis for going concern The Group\u2019s policy is to ensure that we always have sufficient capital markets funding and committed bank facilities in place to meet foreseeable peak borrowing requirements. The Group recognises there can be uncertainty in the external environment, however, during past periods of disruption (e.g. COVID-19, political uncertainty in Russia, Ukraine and the Middle East), the Group effectively managed operations across the world and has proved it has an established mechanism to operate efficiently despite this uncertainty. The Directors consider that a one-off discrete event with immediate cash outflow is of greatest concern to the short-term liquidity of the Group. The Directors have assessed the emerging and principal risks of the business, including stress testing a range of different scenarios that may affect the business. These included scenarios which examined the implications of: \u2022 A one-off discrete event resulting in immediate cash outflow such as unexpected duty and tax payments; and/or other legal and regulatory risks materialising of c.\u00a3500 million \u2022 A rapid and lasting deterioration to the Group\u2019s profitability because markets become closed to tobacco products or there are sustained failures to our tobacco manufacturing and supply chains. These assumed a permanent reduction in profitability of 10% from 1 October 2024 The scenario planning also considered mitigation actions including reductions to capital expenditure, dividend payments and share buyback programme. There are additional actions that were not modelled but could be taken including other cost mitigations such as staff redundancies, working capital management, retrenchment of leases and discussions with lenders about capital structure. Under the reverse stress test scenario, after considering mitigation actions including reductions of capital expenditure, dividend payments and share buyback programme, we have modelled that a 37% EBITDA reduction would lead the Group to have sufficient headroom until 30 November 2025. The Group believes this reverse stress test scenario to be remote given the relatively small impact on our trading performance and bad debt levels during the COVID-19 pandemic and political uncertainty with regard to Ukraine and Russia. In this scenario the Group would implement a number of mitigating actions including revoking the uncommitted dividend, pausing the share buyback and reducing discretionary spend such as capital expenditure. Based on its review of future cash flows covering the period through to 30 November 2025, and having assessed the principal risks facing the Group, the Board is of the opinion that the Group as a whole and Imperial Brands PLC have adequate resources to meet their operational needs from the date of this report for a period of twelve months from the date of approval of the financial statements and concludes that it is appropriate to prepare the financial statements on a going concern basis. Imperial Brands PLC (the Company) provides guarantees to a number of subsidiaries under section 479A of the Companies Act 2006, whereby the subsidiaries, incorporated in the UK and Ireland, are exempt from the requirements of the Act relating to the audit of individual accounts for the financial year ending 30 September 2024. See note VIII Guarantees of the Imperial Brands PLC financial statements for further details. An amendment to IAS 1 Presentation of Financial Statements requires the disclosure of material accounting policy information as part of the notes to the accounts and these are set out below. Accounting policy information is material if, when considered together with other information included in an entity's financial statements, it can reasonably be expected to influence a decision that the primary users of general purpose financial statements make on the basis of those financial statements. The material accounting policies, which have been applied consistently other than where new policies (detailed below) have been adopted, are set out below.", "dimensions": { "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-486": { "value": "Basis of consolidation Subsidiaries are those entities controlled by the Group. Control exists when the Group is exposed to, or has the rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The financial statements of subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases. Where necessary, accounting policies of subsidiaries are changed to ensure consistency with the policies adopted by the Group. The acquisition method of accounting is used to account for the purchase of subsidiaries. The excess of the value transferred to the seller in return for control of the acquired business together with the fair value of any previously held equity interest in that business over the Group\u2019s share of the fair value of the identifiable net assets is recorded as goodwill. Intragroup transactions, balances and unrealised gains on transactions between Group companies are eliminated. Unrealised losses are also eliminated unless costs cannot be recovered. ", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-531": { "value": "Subsidiaries are those entities controlled by the Group. Control exists when the Group is exposed to, or has the rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The financial statements of subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases. Where necessary, accounting policies of subsidiaries are changed to ensure consistency with the policies adopted by the Group. The acquisition method of accounting is used to account for the purchase of subsidiaries. The excess of the value transferred to the seller in return for control of the acquired business together with the fair value of any previously held equity interest in that business over the Group\u2019s share of the fair value of the identifiable net assets is recorded as goodwill. Intragroup transactions, balances and unrealised gains on transactions between Group companies are eliminated. Unrealised losses are also eliminated unless costs cannot be recovered.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-487": { "value": "Foreign currency Items included in the financial statements of each Group company are measured using the currency of the primary economic environment in which the company operates (the functional currency). The income and cash flow statements of Group companies using non-sterling functional currencies are translated to sterling (the Group\u2019s presentational currency) at average rates of exchange in each period. Assets and liabilities of these companies are translated at rates of exchange ruling at the balance sheet date. The differences between retained profits and losses translated at average and closing rates are taken to reserves, as are differences arising on the retranslation of the net assets at the beginning of the year. Transactions in currencies other than a company\u2019s functional currency are initially recorded at the exchange rate ruling at the date of the transaction. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at exchange rates ruling at the balance sheet date of monetary assets and liabilities denominated in foreign currencies are recognised in the consolidated income statement with exchange differences arising on trading transactions being reported in operating profit, and those arising on financing transactions being reported in net finance costs unless as a result of net investment hedging they are reported in other comprehensive income. The Group designates as net investment hedges certain external borrowings and derivatives up to the value of the net assets of Group companies that use non-sterling functional currencies after deducting permanent intercompany loans. Gains or losses on these hedges that are regarded as highly effective are transferred to other comprehensive income, where they offset gains or losses on translation of the net investments that are recorded in equity, in the exchange translation reserve. The Group\u2019s financial results are principally exposed to euro and US dollar exchange rates, which are detailed in the table below.
2024
2023
Closing rate
Average rate
Closing rate
Average rate
Euro
1.1985
1.1694
1.1545
1.1487
US dollar
1.3384
1.2681
1.2214
1.2264
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-488": { "value": "Revenue recognition For the Tobacco & Next Generation Products (Tobacco & NGP) business, revenue comprises the invoiced value for the sale of goods net of sales taxes, rebates and discounts. Revenue is based on the completion of performance obligations that constitute the delivery of goods. The performance obligation is recognised as complete at the point in time when a Group company has delivered products to the customer, the customer has accepted the products and collectability of the related receivables is reasonably assured. The Group recognises income arising from the licensing of intellectual property, occurring in the ordinary course of business, which is treated as revenue. Licensing revenue will be recognised over the period of the licence. The licences granted are distinct from other promises in the contract. For the Distribution business, revenue comprises the invoiced value for the sale of goods and services net of sales taxes, rebates and discounts when goods have been delivered or distribution services have been provided. The Distribution business only recognises commission revenue on purchase and sale transactions in which it acts as a commission agent. Distribution and marketing commissions are included in revenue. Revenue is recognised on products on consignment when these are sold by the consignee. The performance obligations associated with distribution services, which include fees for distributing certain third-party products, are linked to the successful distribution of products for customers. Payments are made to both direct and indirect customers for rebates, discounts and other promotional activities. Direct customers are those to which the Group supplies goods or services. Indirect customers are other entities within the supply chain to the end consumer. Rebates and discounts are deducted from revenue. Where the contract with customers has an entitlement to variable consideration due to the existence of retrospective rebates and discounts, revenue is estimated based on the amount of consideration expected to be received. This estimation is a determination of the most likely amount to be received using all known factors including historic experience. Typically, there is a high degree of certainty over the amount of retrospective rebates/discounts paid due to relatively low year- on-year variations in the volume and pattern of product sales. As the provision of distribution services typically involves product delivery tasks undertaken in a short period of time, revenue and any associated rebates and discounts relating to these services do not normally span an accounting year end. Payments for promotional activities will also be deducted from revenue where the payments relate to goods or service that are closely related to or indistinct from associated sales of goods or services to that customer. The calculated costs are accrued and accounted for as incurred and matched as a deduction from the associated revenues (i.e. excluded from revenues reported in the Group\u2019s consolidated income statement). Duty and similar items Duty and similar items includes duty and levies having the characteristics of duty. In countries where duty is a production tax, duty is included in revenue and in cost of sales in the consolidated income statement. Duty is regarded as a sales tax and excluded from revenue where: \u2022 duty becomes payable to the tax authority when the goods are sold; \u2022 there is an obligation to change the sales price when a change in the rate of duty is imposed; and \u2022 there is a requirement to identify the duty separately on sales information such as invoices. Payments made in the USA under the Master Settlement Agreement are recognised in other cost of sales; for further disclosure see note 30 contingent liabilities. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-532": { "value": "Taxes Current tax is the expected tax payable on the taxable income for the year, using tax rates enacted or substantively enacted at the balance sheet date, and any adjustments to tax payable in respect of previous years. Current tax assets and liabilities are offset to the extent the entity has a legally enforceable right to set off the recognised amounts, and it intends to either settle on a net basis or realise the asset and settle the liability simultaneously. Uncertain tax positions are assessed and measured on an issue by issue basis within the jurisdictions where we operate using management\u2019s estimate of the most likely outcome. Where management determines that a greater than 50% probability exists that the tax authorities would accept the position taken in the tax return, amounts are recognised in the consolidated financial statements on that basis. Where the amount of tax payable or recoverable is uncertain, the Group recognises a liability or asset based on either: management\u2019s judgement of the most likely outcome; or, when there is a wide range of possible outcomes, a probability weighted average approach. The Group recognises interest on late paid taxes as part of financing costs. The Group recognises penalties, if applicable, as part of administrative and other expenses. Deferred tax is provided in full on temporary differences between the carrying amount of assets and liabilities in the financial statements and the tax base, except if it arises from the initial recognition of an asset or liability in a transaction, other than a business combination, that at the time of the transaction affects neither accounting nor taxable profit or loss and does not give rise to equal taxable and deductible temporary differences. Deferred tax is provided on temporary differences arising on investments in subsidiaries, except where the timing of the reversal of the temporary difference is controlled by the Group and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax assets are recognised only to the extent that it is probable that future taxable profits will be available against which the assets can be realised. Deferred tax is determined using the tax rates that have been enacted or substantively enacted at the balance sheet date, and are expected to apply when the deferred tax liability is settled or the deferred tax asset is realised. Deferred tax assets and deferred tax liabilities are offset to the extent the entity has a legally enforceable right to set off current tax assets against current tax liabilities and the deferred tax assets and the deferred tax liabilities relate to income taxes levied by the same taxation authority on either: the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred tax liabilities or assets are expected to be settled or recovered.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-489": { "value": "Taxes Current tax is the expected tax payable on the taxable income for the year, using tax rates enacted or substantively enacted at the balance sheet date, and any adjustments to tax payable in respect of previous years. Current tax assets and liabilities are offset to the extent the entity has a legally enforceable right to set off the recognised amounts, and it intends to either settle on a net basis or realise the asset and settle the liability simultaneously. Uncertain tax positions are assessed and measured on an issue by issue basis within the jurisdictions where we operate using management\u2019s estimate of the most likely outcome. Where management determines that a greater than 50% probability exists that the tax authorities would accept the position taken in the tax return, amounts are recognised in the consolidated financial statements on that basis. Where the amount of tax payable or recoverable is uncertain, the Group recognises a liability or asset based on either: management\u2019s judgement of the most likely outcome; or, when there is a wide range of possible outcomes, a probability weighted average approach. The Group recognises interest on late paid taxes as part of financing costs. The Group recognises penalties, if applicable, as part of administrative and other expenses. Deferred tax is provided in full on temporary differences between the carrying amount of assets and liabilities in the financial statements and the tax base, except if it arises from the initial recognition of an asset or liability in a transaction, other than a business combination, that at the time of the transaction affects neither accounting nor taxable profit or loss and does not give rise to equal taxable and deductible temporary differences. Deferred tax is provided on temporary differences arising on investments in subsidiaries, except where the timing of the reversal of the temporary difference is controlled by the Group and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax assets are recognised only to the extent that it is probable that future taxable profits will be available against which the assets can be realised. Deferred tax is determined using the tax rates that have been enacted or substantively enacted at the balance sheet date, and are expected to apply when the deferred tax liability is settled or the deferred tax asset is realised. Deferred tax assets and deferred tax liabilities are offset to the extent the entity has a legally enforceable right to set off current tax assets against current tax liabilities and the deferred tax assets and the deferred tax liabilities relate to income taxes levied by the same taxation authority on either: the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred tax liabilities or assets are expected to be settled or recovered. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-490": { "value": "Dividends Final dividends are recognised as a liability in the period in which the dividends as approved by the Board of Directors are approved by shareholders, whereas interim dividends as approved by the Board of Directors are recognised in the period in which the dividends are paid.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-562": { "value": "Intangible assets - goodwill Goodwill represents the excess of value transferred to the seller in return for control of the acquired business together with the fair value of any previously held equity interest in that business over the Group\u2019s share of the fair value of the identifiable net assets. Goodwill is tested at least annually for impairment and carried at cost less accumulated impairment losses. Any impairment is recognised immediately in the consolidated income statement and cannot be subsequently reversed. If any negative goodwill arises this is recognised immediately in the consolidated income statement. For the purpose of impairment testing, goodwill is allocated to groups of cash-generating units that are expected to benefit from the business combination in which the goodwill arose. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-534": { "value": "Intangible assets - goodwill Goodwill represents the excess of value transferred to the seller in return for control of the acquired business together with the fair value of any previously held equity interest in that business over the Group\u2019s share of the fair value of the identifiable net assets. Goodwill is tested at least annually for impairment and carried at cost less accumulated impairment losses. Any impairment is recognised immediately in the consolidated income statement and cannot be subsequently reversed. If any negative goodwill arises this is recognised immediately in the consolidated income statement. For the purpose of impairment testing, goodwill is allocated to groups of cash-generating units that are expected to benefit from the business combination in which the goodwill arose. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-491": { "value": "Intangible assets - goodwill Goodwill represents the excess of value transferred to the seller in return for control of the acquired business together with the fair value of any previously held equity interest in that business over the Group\u2019s share of the fair value of the identifiable net assets. Goodwill is tested at least annually for impairment and carried at cost less accumulated impairment losses. Any impairment is recognised immediately in the consolidated income statement and cannot be subsequently reversed. If any negative goodwill arises this is recognised immediately in the consolidated income statement. For the purpose of impairment testing, goodwill is allocated to groups of cash-generating units that are expected to benefit from the business combination in which the goodwill arose. Intangible assets - other Other intangible assets are initially recognised in the consolidated balance sheet at historical cost unless they are acquired as part of a business combination, in which case they are initially recognised at fair value. They are shown in the balance sheet at historical cost less accumulated amortisation and impairment. The Group does not operate a revaluation model and therefore assets are not subject to ongoing revaluations. These assets consist mainly of acquired trademarks, intellectual property, product development, acquired customer relationships and computer software. The Davidoff cigarette trademark is considered by the Directors to have an indefinite life based on the fact that it is an established international brand with global potential. Trademarks with indefinite lives are not amortised but are reviewed annually for impairment. The carrying value of Davidoff is subject to an annual impairment review under the requirements of IAS 36 as the Group does not currently foresee a limit to the period over which the asset is expected to generate net cash inflows. The most recent assessment indicates that the carrying value is not impaired. Intellectual property (including trademarks), product development, supply agreements (including customer relationships) and computer software are amortised over their estimated useful lives as follows: Intellectual property 5 - 30 years straight line Supply agreements 3 - 15 years straight line Software 3 - 10 years straight line Product development 3 - 10 years straight line ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-533": { "value": "Intangible assets - other Other intangible assets are initially recognised in the consolidated balance sheet at historical cost unless they are acquired as part of a business combination, in which case they are initially recognised at fair value. They are shown in the balance sheet at historical cost less accumulated amortisation and impairment. The Group does not operate a revaluation model and therefore assets are not subject to ongoing revaluations. These assets consist mainly of acquired trademarks, intellectual property, product development, acquired customer relationships and computer software. The Davidoff cigarette trademark is considered by the Directors to have an indefinite life based on the fact that it is an established international brand with global potential. Trademarks with indefinite lives are not amortised but are reviewed annually for impairment. The carrying value of Davidoff is subject to an annual impairment review under the requirements of IAS 36 as the Group does not currently foresee a limit to the period over which the asset is expected to generate net cash inflows. The most recent assessment indicates that the carrying value is not impaired. Intellectual property (including trademarks), product development, supply agreements (including customer relationships) and computer software are amortised over their estimated useful lives as follows: Intellectual property 5 - 30 years straight line Supply agreements 3 - 15 years straight line Software 3 - 10 years straight line Product development 3 - 10 years straight line ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-535": { "value": "Property, plant and equipment Property, plant and equipment are recognised in the consolidated balance sheet at historical cost or at their initial fair value where they are acquired as part of an acquisition, subject to depreciation or impairment. The Group does not operate a revaluation model and therefore assets are not subject to ongoing revaluations. Land is not depreciated and depreciation on assets under construction does not commence until they are complete and available for use. Depreciation is provided on other property, plant and equipment so as to write down the initial cost of each asset to its residual value over its estimated useful life as follows: Property up to 50 years straight line Plant and equipment 2 - 20 years straight line/reducing balance Fixtures and motor vehicles 2 - 15 years straight line The assets\u2019 residual values and useful lives are reviewed and, if appropriate, adjusted at each balance sheet date. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-492": { "value": "Property, plant and equipment Property, plant and equipment are recognised in the consolidated balance sheet at historical cost or at their initial fair value where they are acquired as part of an acquisition, subject to depreciation or impairment. The Group does not operate a revaluation model and therefore assets are not subject to ongoing revaluations. Land is not depreciated and depreciation on assets under construction does not commence until they are complete and available for use. Depreciation is provided on other property, plant and equipment so as to write down the initial cost of each asset to its residual value over its estimated useful life as follows: Property up to 50 years straight line Plant and equipment 2 - 20 years straight line/reducing balance Fixtures and motor vehicles 2 - 15 years straight line The assets\u2019 residual values and useful lives are reviewed and, if appropriate, adjusted at each balance sheet date.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-577": { "value": "Financial instruments and hedging Financial assets and financial liabilities, in respect of financial instruments, are recognised on the Group\u2019s consolidated balance sheet when the Group becomes a party to the contractual provisions of the instrument. Receivables held under a hold to collect business model are stated at amortised cost. Receivables held under a hold to sell business model, which are expected to be sold via a non- recourse factoring arrangement, are separately classified as fair value through profit or loss, within trade and other receivables. The calculation of impairment provisions is subject to an expected credit loss model, involving a prediction of future credit losses based on past loss patterns. The approach involves the recognition of provisions relating to potential future impairments, in addition to impairments that have already occurred. The expected credit loss approach involves modelling of historic loss rates, and consideration of the level of future credit risk. Expected loss rates are then applied to the gross receivables balance to calculate the impairment provision. Cash and cash equivalents include cash in hand and deposits held on call, together with other short-term highly liquid investments. Non-derivative financial liabilities, including borrowings and trade payables, are stated at amortised cost. For borrowings, their carrying value includes accrued interest payable, as well as unamortised issue costs. Current liabilities include amounts where the entity does not have an unconditional right to defer settlement of the liability for at least 12 months after the balance sheet date. The Group transacts derivative financial instruments to manage the underlying exposure to foreign exchange and interest rate risks. The Group does not transact derivative financial instruments for trading purposes. Derivative financial instruments are initially recorded at fair value. Derivative financial assets and liabilities are included in the consolidated balance sheet at fair value, and include accrued interest receivable and payable where relevant. However, as the Group has decided (as permitted under IFRS 9) not to cash flow or fair value hedge account for its derivative financial instruments, changes in fair values are recognised in the consolidated income statement in the period in which they arise unless the derivative qualifies and has been designated as a net investment hedging instrument in which case the changes in fair values, attributable to foreign exchange, are recognised in other comprehensive income. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForHedgingExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-563": { "value": "Financial instruments and hedging Financial assets and financial liabilities, in respect of financial instruments, are recognised on the Group\u2019s consolidated balance sheet when the Group becomes a party to the contractual provisions of the instrument. Receivables held under a hold to collect business model are stated at amortised cost. Receivables held under a hold to sell business model, which are expected to be sold via a non- recourse factoring arrangement, are separately classified as fair value through profit or loss, within trade and other receivables. The calculation of impairment provisions is subject to an expected credit loss model, involving a prediction of future credit losses based on past loss patterns. The approach involves the recognition of provisions relating to potential future impairments, in addition to impairments that have already occurred. The expected credit loss approach involves modelling of historic loss rates, and consideration of the level of future credit risk. Expected loss rates are then applied to the gross receivables balance to calculate the impairment provision. Cash and cash equivalents include cash in hand and deposits held on call, together with other short-term highly liquid investments. Non-derivative financial liabilities, including borrowings and trade payables, are stated at amortised cost. For borrowings, their carrying value includes accrued interest payable, as well as unamortised issue costs. Current liabilities include amounts where the entity does not have an unconditional right to defer settlement of the liability for at least 12 months after the balance sheet date. The Group transacts derivative financial instruments to manage the underlying exposure to foreign exchange and interest rate risks. The Group does not transact derivative financial instruments for trading purposes. Derivative financial instruments are initially recorded at fair value. Derivative financial assets and liabilities are included in the consolidated balance sheet at fair value, and include accrued interest receivable and payable where relevant. However, as the Group has decided (as permitted under IFRS 9) not to cash flow or fair value hedge account for its derivative financial instruments, changes in fair values are recognised in the consolidated income statement in the period in which they arise unless the derivative qualifies and has been designated as a net investment hedging instrument in which case the changes in fair values, attributable to foreign exchange, are recognised in other comprehensive income.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-536": { "value": "Financial instruments and hedging Financial assets and financial liabilities, in respect of financial instruments, are recognised on the Group\u2019s consolidated balance sheet when the Group becomes a party to the contractual provisions of the instrument. Receivables held under a hold to collect business model are stated at amortised cost. Receivables held under a hold to sell business model, which are expected to be sold via a non- recourse factoring arrangement, are separately classified as fair value through profit or loss, within trade and other receivables. The calculation of impairment provisions is subject to an expected credit loss model, involving a prediction of future credit losses based on past loss patterns. The approach involves the recognition of provisions relating to potential future impairments, in addition to impairments that have already occurred. The expected credit loss approach involves modelling of historic loss rates, and consideration of the level of future credit risk. Expected loss rates are then applied to the gross receivables balance to calculate the impairment provision. Cash and cash equivalents include cash in hand and deposits held on call, together with other short-term highly liquid investments. Non-derivative financial liabilities, including borrowings and trade payables, are stated at amortised cost. For borrowings, their carrying value includes accrued interest payable, as well as unamortised issue costs. Current liabilities include amounts where the entity does not have an unconditional right to defer settlement of the liability for at least 12 months after the balance sheet date. The Group transacts derivative financial instruments to manage the underlying exposure to foreign exchange and interest rate risks. The Group does not transact derivative financial instruments for trading purposes. Derivative financial instruments are initially recorded at fair value. Derivative financial assets and liabilities are included in the consolidated balance sheet at fair value, and include accrued interest receivable and payable where relevant. However, as the Group has decided (as permitted under IFRS 9) not to cash flow or fair value hedge account for its derivative financial instruments, changes in fair values are recognised in the consolidated income statement in the period in which they arise unless the derivative qualifies and has been designated as a net investment hedging instrument in which case the changes in fair values, attributable to foreign exchange, are recognised in other comprehensive income.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-493": { "value": "Financial instruments and hedging Financial assets and financial liabilities, in respect of financial instruments, are recognised on the Group\u2019s consolidated balance sheet when the Group becomes a party to the contractual provisions of the instrument. Receivables held under a hold to collect business model are stated at amortised cost. Receivables held under a hold to sell business model, which are expected to be sold via a non- recourse factoring arrangement, are separately classified as fair value through profit or loss, within trade and other receivables. The calculation of impairment provisions is subject to an expected credit loss model, involving a prediction of future credit losses based on past loss patterns. The approach involves the recognition of provisions relating to potential future impairments, in addition to impairments that have already occurred. The expected credit loss approach involves modelling of historic loss rates, and consideration of the level of future credit risk. Expected loss rates are then applied to the gross receivables balance to calculate the impairment provision. Cash and cash equivalents include cash in hand and deposits held on call, together with other short-term highly liquid investments. Non-derivative financial liabilities, including borrowings and trade payables, are stated at amortised cost. For borrowings, their carrying value includes accrued interest payable, as well as unamortised issue costs. Current liabilities include amounts where the entity does not have an unconditional right to defer settlement of the liability for at least 12 months after the balance sheet date. The Group transacts derivative financial instruments to manage the underlying exposure to foreign exchange and interest rate risks. The Group does not transact derivative financial instruments for trading purposes. Derivative financial instruments are initially recorded at fair value. Derivative financial assets and liabilities are included in the consolidated balance sheet at fair value, and include accrued interest receivable and payable where relevant. However, as the Group has decided (as permitted under IFRS 9) not to cash flow or fair value hedge account for its derivative financial instruments, changes in fair values are recognised in the consolidated income statement in the period in which they arise unless the derivative qualifies and has been designated as a net investment hedging instrument in which case the changes in fair values, attributable to foreign exchange, are recognised in other comprehensive income.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-586": { "value": "Cash and cash equivalents include cash in hand and deposits held on call, together with other short-term highly liquid investments. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-494": { "value": "Right of use assets The Group has lease contracts relating to property and other assets (which predominantly relates to motor vehicles). The Group recognises right of use assets, at the commencement date of the lease (i.e. the date the underlying asset is available for use). Right of use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right of use assets includes the amount of lease liabilities recognised, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Unless the Group is reasonably certain to obtain ownership of the leased asset at the end of the lease term, the recognised right of use asset is depreciated on a straight-line basis over the shorter of its estimated useful life and the lease term. Right of use assets are subject to impairment. Lease liabilities At the commencement date of the lease, the Group recognises lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments less any lease incentives receivable, variable lease payments which depend on an index or a rate, and amounts expected to be paid under residual value guarantees. Lease payments include the exercise of purchase options if determined reasonably certain to be exercised and termination payments if the lease term reflects the exercise of an option to terminate. In calculating the present value of lease payments, the Group uses the incremental borrowing rate, defined as the rate of interest that a lessee would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right of use asset in a similar economic environment, at the lease commencement date if the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accumulation of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the in-substance fixed lease payments or a change in the assessment to purchase the underlying asset. Lease payments on short-term leases and leases of low value assets are recognised as an expense on a straight line basis over the lease term in cost of sales or distribution, advertising and selling costs. Short-term leases, leases of low value assets and practical expedients applied The Group has applied a number of practical expedients permitted by IFRS 16 Leases. These include: \u2022 the exclusion of leases where the lease term ends within 12 months of the commencement of the lease or date of initial application; and \u2022 the exclusion of leases of low value assets, defined as those of less than US$ 5,000. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-499": { "value": "Inventories Inventories are stated at the lower of cost and net realisable value. Cost is determined using the first in first out (FIFO) method. The cost of finished goods and work in progress comprises raw materials, direct labour, other direct costs and related production overheads (based on normal operating capacity). Net realisable value is the estimated selling price in the ordinary course of business, less the estimated costs of completion and selling expenses. Inventory is considered for obsolescence or other impairment issues and an associated provision is booked where necessary. Leaf tobacco inventory which has an operating cycle that exceeds 12 months is classified as a current asset, consistent with recognised industry practice.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-495": { "value": "Provisions A provision is recognised in the consolidated balance sheet when the Group has a legal or constructive obligation as a result of a past event, it is more likely than not that an outflow of resources will be required to settle that obligation, and a reliable estimate of the amount can be made. A provision for restructuring is recognised when the Group has approved a detailed formal restructuring plan, and the restructuring has either commenced or has been publicly announced, and it is more likely than not that the plan will be implemented, and the amount required to settle any obligations arising can be reliably estimated. Future operating losses are not provided for. Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-496": { "value": "Contingent liabilities Contingent liabilities are possible obligations that arise from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events, not wholly within the control of the Group. Contingent liabilities are not recognised, only disclosed, unless the possibility of a future outflow of resources is considered remote, or where a disclosure would seriously prejudice the position of the Group.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForContingentLiabilitiesAndContingentAssetsExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-497": { "value": "Retirement benefit schemes For defined benefit schemes, the amount recognised in the consolidated balance sheet is the difference between the present value of the defined benefit obligation at the balance sheet date and the fair value of the scheme assets to the extent that they are demonstrably recoverable either by refund or a reduction in future contributions. The defined benefit obligation is calculated annually by independent actuaries using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future cash flows using interest rates of high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension obligation. The service cost of providing retirement benefits to employees during the year is charged to operating profit. Past service costs are recognised immediately in operating profit, unless the changes to the pension plan are conditional on the employees remaining in service for a specified period of time. All actuarial gains and losses, including differences between actual and expected returns on assets and differences that arise as a result of changes in actuarial assumptions, are recognised immediately in full in the statement of comprehensive income for the period in which they arise. An interest charge is made in the consolidated income statement by applying the rate used to discount the defined benefit obligations to the net defined benefit liability of the schemes. Interest income and costs arising on defined benefit assets and liabilities are presented net in the consolidated income statement. Prior year amounts have been restated having previously presented gross. For defined contribution schemes, contributions are recognised as an employee benefit expense when they are due.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-498": { "value": "Treasury shares When the Company purchases its own equity share capital (treasury shares), the consideration paid, including any directly attributable incremental costs (net of income taxes), is deducted on consolidation from equity attributable to owners of the parent until the shares are reissued or disposed of. When such shares are subsequently sold or reissued, any consideration received, net of any directly attributable incremental transaction costs and the related income tax effects, increases equity attributable to owners of the parent. When such shares are cancelled they are transferred to the capital redemption reserve. Where the Group enters into a contract with a third party that contains an obligation to repurchase its own shares for cash or another financial asset, a financial liability is recognised for the present value of the redemption amount. One example is an obligation under a forward contract to repurchase shares in Imperial Brands PLC for cash. The financial liability is recognised initially at the present value of the redemption amount, and is reclassified from equity. Subsequently, the financial liability is measured in accordance with IFRS 9, and is revalued at subsequent reporting points as appropriate. If the contract expires without delivery, the carrying amount of the financial liability is reclassified to equity.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTreasurySharesExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-537": { "value": "Joint ventures The Group applies IFRS 11 Joint Arrangements to all joint arrangements. Under IFRS 11 investments in joint arrangements are classified as either joint operations or joint ventures depending on the contractual rights and obligations of each investor. The Group has assessed the nature of its joint arrangements and determined them to be joint ventures. The financial statements of joint ventures are included in the Group financial statements using the equity accounting method, with the Group\u2019s share of net assets included as a single line item entitled \"Investments accounted for using the equity method\". In the same way, the Group\u2019s share of earnings is presented in the consolidated income statement below operating profit entitled \"Share of profit of investments accounted for using the equity method\".", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsInJointVentures", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-500": { "value": "Joint ventures The Group applies IFRS 11 Joint Arrangements to all joint arrangements. Under IFRS 11 investments in joint arrangements are classified as either joint operations or joint ventures depending on the contractual rights and obligations of each investor. The Group has assessed the nature of its joint arrangements and determined them to be joint ventures. The financial statements of joint ventures are included in the Group financial statements using the equity accounting method, with the Group\u2019s share of net assets included as a single line item entitled \"Investments accounted for using the equity method\". In the same way, the Group\u2019s share of earnings is presented in the consolidated income statement below operating profit entitled \"Share of profit of investments accounted for using the equity method\".", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-501": { "value": "Share-based payments The Group applies the requirements of IFRS 2 Share-based Payment to both equity-settled and cash-settled share-based employee compensation schemes. The majority of the Group's schemes are equity-settled. Equity-settled share-based payments are measured at fair value at the date of grant and are expensed over the vesting period, based on the number of instruments that are expected to vest. For plans where vesting conditions are based on total shareholder returns, the fair value at the date of grant reflects these conditions. Earnings per share and net revenue vesting conditions are reflected in the estimate of awards that will eventually vest. For cash-settled share-based payments, a liability equal to the portion of the services received is recognised at its current fair value at each balance sheet date. Where applicable the Group recognises the impact of revisions to original estimates in the consolidated income statement, with a corresponding adjustment to equity for equity-settled schemes and current liabilities for cash-settled schemes. Fair values are measured using appropriate valuation models, taking into account the terms and conditions of the awards. The Group funds the purchase of shares to satisfy rights to shares arising under share-based employee compensation schemes. Shares acquired to satisfy those rights are held in Employee Share Ownership Trusts. The Employee Share Ownership Trust is a separate entity which is consolidated within the Group. On consolidation, these shares are accounted for as a deduction from equity attributable to owners of the parent. When the rights are exercised, equity is increased by the amount of any proceeds received by the Employee Share Ownership Trusts.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-502": { "value": "Hyperinflation The Turkish economy was designated hyperinflationary from April 2022. The Group has applied IAS 29 Financial Reporting in Hyperinflationary Economies to its Turkish operations with effect from 1 October 2021. In accordance with IAS 21 The Effects of Changes in Foreign Exchange Rates, the comparative figures for the year ended 30 September 2023 have not been modified. The adjustments required by IAS 29 are set out below. \u2022 Adjustment of historical cost non-monetary assets and liabilities from their date of initial recognition to the balance sheet date (1 October 2021) to reflect the changes in purchasing power of the currency caused by inflation, as measured by the official Consumer Price Index (CPI) published by the Turkish Statistical Institute (TurkStat). \u2022 Adjustment of the components of the income statement and cash flow statement for the inflation index since their generation, with a balancing entry in the income statement and a reconciling item in the cash flow statement, respectively. \u2022 Adjustment of the income statement to reflect the impact of inflation on holding monetary assets and liabilities in local currency, where necessary. \u2022 The financial statements of the Group\u2019s Turkish operations have been translated into sterling at the closing exchange rate at 30 September 2024. \u2022 The impact of adjustments to non-monetary assets recognising inflation from the adoption date to the closing balance sheet date, on translation into sterling at the closing balance sheet rate has been recognised within other comprehensive income. The TurkStat CPI index was 2526.16 at 30 September 2024 (1,691.04 at 30 September 2023 and 1,046.89 at 30 September 2022). The inflation index for the year is therefore 1.4939 (2023: 1.6153). The impact on the Group\u2019s results remains immaterial.", "dimensions": { "concept": "imperialbrandsplc:DescriptionOfAccountingPolicyForHyperinflation", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-538": { "value": "New accounting standards There have been no changes to accounting standards that have significantly impacted the accounting or disclosures within the financial statements for the year ended 30 September 2024. ", "dimensions": { "concept": "ifrs-full:DescriptionOfInitialApplicationOfStandardsOrInterpretations", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-503": { "value": "New accounting standards There have been no changes to accounting standards that have significantly impacted the accounting or disclosures within the financial statements for the year ended 30 September 2024. New accounting standards that are effective after the year ended 30 September 2024 There are a number of amendments and clarifications to IFRS, effective in future years and, with the exception of IFRS 18 Presentation and Disclosure in Financial Statements, none of these are expected to significantly impact the Group\u2019s consolidated results or financial position. IFRS 18 - Presentation and Disclosure in Financial Statements This new accounting standard is effective for the year ended 30 September 2028 and will involve a change to the structure of the primary financial statements. This requires entities to classify income and expenses into five categories \u2013 operating, investing, financing, income tax and discontinued operations. In addition, certain \u201cnon-GAAP\u201d measures \u2013 alternative performance measures (APMs) \u2013 will now form part of the audited financial statements, and require mandatory definitions and reconciliation to GAAP measures. The Group is presently reviewing the impact of this standard which is expected to fundamentally change the structure of the presentation of the Income statement. The Group already complies with the requirements related to Alternative Performance Measures through the voluntary disclosures that are included within the Supplementary Information section of this report. Therefore, there is expected to be minimal impact related to APM disclosures.", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-539": { "value": "New accounting standards that are effective after the year ended 30 September 2024 There are a number of amendments and clarifications to IFRS, effective in future years and, with the exception of IFRS 18 Presentation and Disclosure in Financial Statements, none of these are expected to significantly impact the Group\u2019s consolidated results or financial position. IFRS 18 - Presentation and Disclosure in Financial Statements This new accounting standard is effective for the year ended 30 September 2028 and will involve a change to the structure of the primary financial statements. This requires entities to classify income and expenses into five categories \u2013 operating, investing, financing, income tax and discontinued operations. In addition, certain \u201cnon-GAAP\u201d measures \u2013 alternative performance measures (APMs) \u2013 will now form part of the audited financial statements, and require mandatory definitions and reconciliation to GAAP measures. The Group is presently reviewing the impact of this standard which is expected to fundamentally change the structure of the presentation of the Income statement. The Group already complies with the requirements related to Alternative Performance Measures through the voluntary disclosures that are included within the Supplementary Information section of this report. Therefore, there is expected to be minimal impact related to APM disclosures. ", "dimensions": { "concept": "ifrs-full:DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-504": { "value": "
2. ACCOUNTING ESTIMATES AND JUDGEMENTS
The Group makes estimates and judgements associated with
accounting entries which will be affected by future events.
Estimates and judgements are continually evaluated based on
historical experience, and other factors, including current
information that helps form a forward-looking view of expected
future outcomes.
Estimates involve the determination of the quantum of
accounting balances to be recognised. Judgements typically
involve decisions such as whether to recognise an asset
or liability.
The actual amounts recognised in the future may deviate from
these estimates and judgements.
Estimates
Significant estimates
Companies are required to state whether estimates have a
significant risk of a material adjustment to the carrying
amounts of assets and liabilities within the next financial year.
We have reviewed the items below where estimation
uncertainty exists. While a number of these areas do involve
estimation of the carrying value of assets or liabilities that are
potentially significant within the context of the financial
statements, the Group considers the probability of a significant
risk of material adjustment to be low. None of these estimates
are expected to present a material adjustment to the carrying
amount of assets and liabilities in the next financial year.
Therefore, no significant estimates are required to be disclosed.
Other estimates
Other estimates involve other uncertainties, such as those
carrying lower risk, which have a smaller potential impact or
would be expected to crystallise over a longer time frame than a
significant estimate. These items, listed below, are only
disclosed where this provides material relevant information.
Determination of useful economic life of intangible assets
For non-goodwill intangible assets, there is a need to estimate
the useful economic life of each asset. This includes
determining whether the asset has an indefinite useful
economic life, or not. The Davidoff trademark has a significant
market share and positive cash flow growth expectations.
There are no regulatory or contractual restrictions on the use of
this trademark, and there are no plans to significantly redirect
resources elsewhere which would reduce the value of this
asset. Consequently, in the view of management, the Davidoff
trademark does not have a foreseeable and definite end to its
ability to generate future cash flows and hence it is not
amortised. The carrying value of Davidoff is subject to an
annual impairment review under the requirements of IAS 36.
The most recent assessment indicates that the carrying value
is not impaired.
Amortisation and impairment of intangible assets
For non-indefinite life assets, which are amortised, the useful
economic life and recoverable amounts are estimated based
upon the expectation of the time period during which an
intangible asset will support future cash flows, and the
quantum of those cash flows. Due to estimation uncertainties
the useful economic lives and associated amortisation rates
have to be reviewed and revised where necessary. In addition,
where there are indications that the current carrying value of
an intangible asset is greater than its recoverable amount, an
impairment to the carrying value of the asset may be required.
Factors considered important that could trigger an impairment
review of intangible assets include the following:
\u2022 significant underperformance relative to historical or
projected future operating results;
\u2022 significant changes in the manner of the use of the acquired
assets or the strategy for the overall business; and
\u2022 significant negative industry or economic trends.
The complexity of the estimation process and issues related to
the assumptions, risks and uncertainties inherent in the
application of the Group\u2019s accounting estimates in relation to
intangible assets can affect the amounts reported in the
financial statements, especially the estimates of the expected
useful economic lives and the carrying values of those assets. If
business conditions significantly change it is possible that
materially different amounts could be reported in the Group\u2019s
financial statements in future periods. Indefinite life intangible
assets, including goodwill, are subject to annual impairment
testing where an assessment of the carrying value of the asset
against its recoverable amount is undertaken. There are long-
term uncertainties associated with estimating the value of the
recoverable amount, particularly with regard to long-term cash
flow growth rates which are influenced by the future size and
shape of the tobacco sector. While long-term growth rates
currently used in impairment assessments are based on
current best estimates of future performance, there may be
changes in these assumptions when conducting impairment
tests in subsequent years. Details of goodwill and intangible
asset impairment assessments are included in note 12.
Corporate income taxes
Where tax liabilities have been judged to exist, estimation is
often required to determine the potential future tax payments.
The Group is subject to tax in numerous jurisdictions and
significant estimation is required in determining the provision
for tax. There are many transactions and calculations for which
the ultimate tax determination is uncertain. The Group
recognises provisions for tax based on estimates of the taxes
that are likely to become due. Where the final tax outcome is
different from the amounts that were initially recorded, such
differences will impact the current income tax and deferred tax
provisions in the period in which such determination is made.
Consideration of the valuation estimates related to tax
provisions is given in note 8 to these financial statements.
Other legal proceedings and disputes
Where a liability is determined there can be a degree of
estimation of the potential level of damages expected. Key
areas of estimation uncertainty include consideration as to the
expected future amount to be paid out in the event the claim
succeeds. In some situations where a probability risk
calculation is required to determine the amount of an
associated provision, both the quantum of future payments and
the probability of those payments crystallising needs to be
considered, both factors having a degree of uncertainty. More
detail as to the considered position of these claims is given in
note 25 and note 30 of the financial statements. To the extent
that the Group\u2019s assessments at any time do not reflect
subsequent developments or the eventual outcome of any
claim, its future financial statements may be materially
affected, with a favourable or adverse impact upon the Group\u2019s
operating profit, financial position and liquidity.
Climate change
The Group has a designated programme to manage and
mitigate climate-related risks. The effect of climate change is
not considered to have a material effect on the estimates in the
financial statements. Governmental and societal responses to
climate change risks are still developing and consequently
financial statements cannot capture all possible future
outcomes as these are not yet known or don't have sufficient
certainty to be taken into account when determining asset and
liability valuations and the timing of future cash flows under
the requirements of UK-adopted IAS. Please refer to the
following sections for further discussion on the impact of
climate change relating to going concern assumptions in note 1,
intangible assets impairment assumptions in note 12 and
recoverability of deferred tax assets in note 23.
Judgements
Paragraph 122 of IAS 1 requires disclosure of judgements made
by management in applying an entity\u2019s accounting policies,
other than those relating to estimation uncertainty. Paragraph
125 of IAS 1 requires more wide-ranging disclosures of
judgements that depend on management assumptions about
the future, and other major sources of estimation uncertainty
(\"significant judgements\").
Corporate income taxes
Judgement is involved in determining whether the Group is
subject to a tax liability or not in line with tax law. The Group is
subject to income tax in numerous jurisdictions and significant
judgement is required in determining whether there is a
liability requiring a provision for tax. Recognition of tax
liabilities in situations where there is uncertainty is based on
precedent in similar tax cases and external advice as to
whether challenges by tax authorities are likely to result in
future tax payments being made. The recognition of a tax
liability involves consideration of the probability of tax
authorities accepting the position taken in the tax return and
there is therefore some uncertainty.
Deferred tax assets
Deferred tax assets are recognised for deductible temporary
differences, unused tax losses and unused tax credits to the
extent that it is probable that taxable profit will be available
against which the temporary differences, losses and credits can
be utilised. Significant management judgement is required to
determine the amount of deferred tax assets that can be
recognised, based upon the likely timing and the level of future
taxable profits, together with future tax planning strategies. The
Group has determined that it cannot recognise deferred tax
assets on the temporary differences, tax losses and tax credits
carried forward for certain subsidiaries. Further details of the
estimates related to deferred taxes are given in note 23 to these
financial statements.
Legal proceedings and disputes
The Group reviews outstanding legal cases following
developments in the legal proceedings at each balance sheet
date, considering the nature of the litigation, claim or
assessment; the legal processes and potential level of damages
in the jurisdiction in which the litigation, claim or assessment
has been brought; the progress of the case (including progress
after the date of the financial statements but before those
statements are issued); the opinions or views of legal counsel
and other advisers; experience of similar cases; and any
decision of the Group\u2019s management as to how it will respond
to the litigation, claim or assessment. Judgement is required as
to whether a liability exists. A provision will only be recognised
where it is probable that the Group will be required to settle a
claim.
Control of Logista
A key judgement relates to whether the Group has effective
control of Logista sufficient that the Group can consolidate this
entity within its Group accounts in line with the requirements
of IFRS 10 Consolidated Financial Statements. The Group holds
50.01% of the voting shares. The Group has reviewed its control
of Logista and that it is appropriate to consolidate this entity in
line with the requirements of IFRS 10 Consolidated Financial
Statements. The Group continues to have Director presence
on the Board of Logista, representing 5 out of 12 Directors.
The Group has powers to control as set out in the Relationship
Framework Agreement which specifies certain areas of
operation reserved for shareholder approval and through
these measures the Group is able to exercise control of Logista.
The Group has therefore concluded that it continues to be
appropriate to recognise Logista as a fully consolidated
subsidiary.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-505": { "value": "
3. SEGMENT INFORMATION
Imperial Brands comprises two distinct businesses \u2013 Tobacco & NGP and Distribution. The Tobacco & NGP business comprises the
manufacture, marketing and sale of Tobacco & NGP and Tobacco & NGP-related products, including sales to (but not by) the Distribution
business. The Distribution business comprises the distribution of Tobacco & NGP products for associated manufacturers, including
Imperial Brands, as well as a wide range of products and services. The Distribution business is run on an operationally neutral basis
ensuring all customers are treated equally, and consequently transactions between the Tobacco & NGP and Distribution businesses are
undertaken on an arm\u2019s length basis reflecting market prices for comparable goods and services.
The function of the Chief Operating Decision Maker (defined in IFRS 8), which is to review performance and allocate resources, is
performed by the Board and the Chief Executive, who are regularly provided with information on the Group's segments. This information
is used as the basis of the segment revenue and profit disclosures provided below. The main profit measure used by the Board and the
Chief Executive is adjusted operating profit. Segment balance sheet information is not provided to the Board or the Chief Executive.
The Group's reportable segments are Europe, Americas, Africa, Asia, Australasia and Central & Eastern Europe (AAACE) and Distribution.
Operating segments are comprised of geographical groupings of business markets. The main Tobacco & NGP business markets within
the Europe, Americas and AAACE reportable segments are:
Europe \u2013 United Kingdom, Germany, Spain, Luxembourg, France, Italy, Greece, Sweden, Norway, Belgium and the Netherlands.
Americas \u2013 United States.
AAACE \u2013 Australia, Saudi Arabia, Taiwan, Poland, Czech Republic, Ukraine, Slovakia, Hungary, Slovenia and African markets including
Algeria and Morocco.
Tobacco & NGP
2024
2023
Tobacco & Tobacco &
\u00a3 million unless otherwise indicated
Tobacco
NGP
NGP
Tobacco
NGP
NGP
Revenue
21,708
376
22,084
22,114
299
22,413
Net revenue
7,828
329
8,157
7,747
265
8,012
Operating profit/(loss)
3,321
(83)
3,238
3,262
(156)
3,106
Adjusted operating profit
3,587
3,583
Adjusted operating margin %
44.0
44.7
Distribution
\u00a3 million unless otherwise indicated
2024
2023
Revenue
11,104
10,819
Distribution gross profit
1,503
1,466
Operating profit
322
298
Adjusted operating profit
330
306
Adjusted operating margin %
22.0
20.9
Revenue
2024
2023
Total External Total External
\u00a3 million revenue revenue revenue revenue
Tobacco & NGP
Europe
12,037
11,260
11,749
10,992
Americas
3,657
3,657
3,700
3,700
AAACE
6,390
6,390
6,964
6,964
Total Tobacco & NGP
22,084
21,307
22,413
21,656
Distribution
11,104
11,104
10,819
10,819
Eliminations
(777)
\u2013
(757)
\u2013
Total Group
32,411
32,411
32,475
32,475
The eliminations all relate to Tobacco & NGP sales to Distribution.
Tobacco & NGP net revenue
2024 2023
\u00a3 million
Tobacco
NGP
Total
Tobacco
NGP
Total
Europe
3,106
260
3,366
3,020
220
3,240
Americas
2,793
43
2,836
2,778
34
2,812
AAACE
1,929
26
1,955
1,949
11
1,960
Total Tobacco & NGP
7,828
329
8,157
7,747
265
8,012
Adjusted operating profit and reconciliation to profit before tax
\u00a3 million
2024
2023
Tobacco & NGP
Europe
1,541
1,482
Americas
1,235
1,257
AAACE
811
844
Total Tobacco & NGP
3,587
3,583
Distribution
330
306
Eliminations
(6)
(2)
Adjusted operating profit
3,911
3,887
Russia, Ukraine and associated markets - Tobacco & NGP
\u2013
(4)
Amortisation and impairment of acquired intangibles - Tobacco & NGP
(345)
(339)
Amortisation of acquired intangibles - Distribution
(8)
(8)
Fair value adjustment and impairment of other financial assets - Tobacco & NGP
\u2013
(36)
Loss on disposal of subsidiaries - Tobacco & NGP
\u2013
(1)
Charges related to legal provisions - Tobacco & NGP
\u2013
(85)
Structural changes to defined benefit pension schemes - Tobacco & NGP
(4)
(12)
Operating profit
3,554
3,402
Net finance costs
(534)
(298)
Share of profit of investments accounted for using the equity method
9
7
Profit before tax
3,029
3,111
Other information
2024
Additions to Depreciation Other
property, plant and software intangible asset Inventory
\u00a3 million and equipment amortisation amortisation impairments
Tobacco & NGP
Europe
60
88
7
16
Americas
30
27
1
4
AAACE
51
40
\u2013
11
Total Tobacco & NGP
141
155
8
31
Distribution
38
37
\u2013
\u2013
Total Group
179
192
8
31
2023
Additions to Depreciation Other
property, plant and software intangible asset Inventory
\u00a3 million and equipment amortisation amortisation impairments
Tobacco & NGP
Europe
69
79
10
30
Americas
36
20
1
3
AAACE
46
41
\u2013
13
Total Tobacco & NGP
151
140
11
46
Distribution
40
41
\u2013
\u2013
Total Group
191
181
11
46
The above tables include items that have been recognised within segment. Materiality has been assessed on both a qualitative and
quantitative basis.
Additional geographic analysis
External revenue and non-current assets are presented for individually significant countries. The geographical analysis is based on
country of origin. The Group's products are sold in over 120 countries.
2024
2023
External Non-current External Non-current
\u00a3 million revenue assets revenue assets
UK
3,781
161
3,926
148
Germany
4,501
3,156
4,142
3,245
France
3,374
2,282
3,428
2,350
USA
3,648
4,968
3,657
5,646
Other
17,107
7,350
17,322
7,553
Total Group
32,411
17,917
32,475
18,942
Non-current assets comprise intangible assets, property, plant and equipment, right of use assets and investments accounted for using
the equity method.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-564": { "value": "3. SEGMENT INFORMATION Imperial Brands comprises two distinct businesses \u2013 Tobacco & NGP and Distribution. The Tobacco & NGP business comprises the manufacture, marketing and sale of Tobacco & NGP and Tobacco & NGP-related products, including sales to (but not by) the Distribution business. The Distribution business comprises the distribution of Tobacco & NGP products for associated manufacturers, including Imperial Brands, as well as a wide range of products and services. The Distribution business is run on an operationally neutral basis ensuring all customers are treated equally, and consequently transactions between the Tobacco & NGP and Distribution businesses are undertaken on an arm\u2019s length basis reflecting market prices for comparable goods and services. The function of the Chief Operating Decision Maker (defined in IFRS 8), which is to review performance and allocate resources, is performed by the Board and the Chief Executive, who are regularly provided with information on the Group's segments. This information is used as the basis of the segment revenue and profit disclosures provided below. The main profit measure used by the Board and the Chief Executive is adjusted operating profit. Segment balance sheet information is not provided to the Board or the Chief Executive. The Group's reportable segments are Europe, Americas, Africa, Asia, Australasia and Central & Eastern Europe (AAACE) and Distribution. Operating segments are comprised of geographical groupings of business markets. The main Tobacco & NGP business markets within the Europe, Americas and AAACE reportable segments are: Europe \u2013 United Kingdom, Germany, Spain, Luxembourg, France, Italy, Greece, Sweden, Norway, Belgium and the Netherlands. Americas \u2013 United States. AAACE \u2013 Australia, Saudi Arabia, Taiwan, Poland, Czech Republic, Ukraine, Slovakia, Hungary, Slovenia and African markets including Algeria and Morocco. Tobacco & NGP
2024
2023
Tobacco & Tobacco &
\u00a3 million unless otherwise indicated
Tobacco
NGP
NGP
Tobacco
NGP
NGP
Revenue
21,708
376
22,084
22,114
299
22,413
Net revenue
7,828
329
8,157
7,747
265
8,012
Operating profit/(loss)
3,321
(83)
3,238
3,262
(156)
3,106
Adjusted operating profit
3,587
3,583
Adjusted operating margin %
44.0
44.7
Distribution
\u00a3 million unless otherwise indicated
2024
2023
Revenue
11,104
10,819
Distribution gross profit
1,503
1,466
Operating profit
322
298
Adjusted operating profit
330
306
Adjusted operating margin %
22.0
20.9
Revenue
2024
2023
Total External Total External
\u00a3 million revenue revenue revenue revenue
Tobacco & NGP
Europe
12,037
11,260
11,749
10,992
Americas
3,657
3,657
3,700
3,700
AAACE
6,390
6,390
6,964
6,964
Total Tobacco & NGP
22,084
21,307
22,413
21,656
Distribution
11,104
11,104
10,819
10,819
Eliminations
(777)
\u2013
(757)
\u2013
Total Group
32,411
32,411
32,475
32,475
The eliminations all relate to Tobacco & NGP sales to Distribution. Tobacco & NGP net revenue
2024 2023
\u00a3 million
Tobacco
NGP
Total
Tobacco
NGP
Total
Europe
3,106
260
3,366
3,020
220
3,240
Americas
2,793
43
2,836
2,778
34
2,812
AAACE
1,929
26
1,955
1,949
11
1,960
Total Tobacco & NGP
7,828
329
8,157
7,747
265
8,012
Adjusted operating profit and reconciliation to profit before tax
\u00a3 million
2024
2023
Tobacco & NGP
Europe
1,541
1,482
Americas
1,235
1,257
AAACE
811
844
Total Tobacco & NGP
3,587
3,583
Distribution
330
306
Eliminations
(6)
(2)
Adjusted operating profit
3,911
3,887
Russia, Ukraine and associated markets - Tobacco & NGP
\u2013
(4)
Amortisation and impairment of acquired intangibles - Tobacco & NGP
(345)
(339)
Amortisation of acquired intangibles - Distribution
(8)
(8)
Fair value adjustment and impairment of other financial assets - Tobacco & NGP
\u2013
(36)
Loss on disposal of subsidiaries - Tobacco & NGP
\u2013
(1)
Charges related to legal provisions - Tobacco & NGP
\u2013
(85)
Structural changes to defined benefit pension schemes - Tobacco & NGP
(4)
(12)
Operating profit
3,554
3,402
Net finance costs
(534)
(298)
Share of profit of investments accounted for using the equity method
9
7
Profit before tax
3,029
3,111
Other information
2024
Additions to Depreciation Other
property, plant and software intangible asset Inventory
\u00a3 million and equipment amortisation amortisation impairments
Tobacco & NGP
Europe
60
88
7
16
Americas
30
27
1
4
AAACE
51
40
\u2013
11
Total Tobacco & NGP
141
155
8
31
Distribution
38
37
\u2013
\u2013
Total Group
179
192
8
31
2023
Additions to Depreciation Other
property, plant and software intangible asset Inventory
\u00a3 million and equipment amortisation amortisation impairments
Tobacco & NGP
Europe
69
79
10
30
Americas
36
20
1
3
AAACE
46
41
\u2013
13
Total Tobacco & NGP
151
140
11
46
Distribution
40
41
\u2013
\u2013
Total Group
191
181
11
46
The above tables include items that have been recognised within segment. Materiality has been assessed on both a qualitative and quantitative basis. Additional geographic analysis External revenue and non-current assets are presented for individually significant countries. The geographical analysis is based on country of origin. The Group's products are sold in over 120 countries.
2024
2023
External Non-current External Non-current
\u00a3 million revenue assets revenue assets
UK
3,781
161
3,926
148
Germany
4,501
3,156
4,142
3,245
France
3,374
2,282
3,428
2,350
USA
3,648
4,968
3,657
5,646
Other
17,107
7,350
17,322
7,553
Total Group
32,411
17,917
32,475
18,942
Non-current assets comprise intangible assets, property, plant and equipment, right of use assets and investments accounted for using the equity method.", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-540": { "value": "3. SEGMENT INFORMATION Imperial Brands comprises two distinct businesses \u2013 Tobacco & NGP and Distribution. The Tobacco & NGP business comprises the manufacture, marketing and sale of Tobacco & NGP and Tobacco & NGP-related products, including sales to (but not by) the Distribution business. The Distribution business comprises the distribution of Tobacco & NGP products for associated manufacturers, including Imperial Brands, as well as a wide range of products and services. The Distribution business is run on an operationally neutral basis ensuring all customers are treated equally, and consequently transactions between the Tobacco & NGP and Distribution businesses are undertaken on an arm\u2019s length basis reflecting market prices for comparable goods and services. The function of the Chief Operating Decision Maker (defined in IFRS 8), which is to review performance and allocate resources, is performed by the Board and the Chief Executive, who are regularly provided with information on the Group's segments. This information is used as the basis of the segment revenue and profit disclosures provided below. The main profit measure used by the Board and the Chief Executive is adjusted operating profit. Segment balance sheet information is not provided to the Board or the Chief Executive. The Group's reportable segments are Europe, Americas, Africa, Asia, Australasia and Central & Eastern Europe (AAACE) and Distribution. Operating segments are comprised of geographical groupings of business markets. The main Tobacco & NGP business markets within the Europe, Americas and AAACE reportable segments are: Europe \u2013 United Kingdom, Germany, Spain, Luxembourg, France, Italy, Greece, Sweden, Norway, Belgium and the Netherlands. Americas \u2013 United States. AAACE \u2013 Australia, Saudi Arabia, Taiwan, Poland, Czech Republic, Ukraine, Slovakia, Hungary, Slovenia and African markets including Algeria and Morocco. Tobacco & NGP
2024
2023
Tobacco & Tobacco &
\u00a3 million unless otherwise indicated
Tobacco
NGP
NGP
Tobacco
NGP
NGP
Revenue
21,708
376
22,084
22,114
299
22,413
Net revenue
7,828
329
8,157
7,747
265
8,012
Operating profit/(loss)
3,321
(83)
3,238
3,262
(156)
3,106
Adjusted operating profit
3,587
3,583
Adjusted operating margin %
44.0
44.7
Distribution
\u00a3 million unless otherwise indicated
2024
2023
Revenue
11,104
10,819
Distribution gross profit
1,503
1,466
Operating profit
322
298
Adjusted operating profit
330
306
Adjusted operating margin %
22.0
20.9
Revenue
2024
2023
Total External Total External
\u00a3 million revenue revenue revenue revenue
Tobacco & NGP
Europe
12,037
11,260
11,749
10,992
Americas
3,657
3,657
3,700
3,700
AAACE
6,390
6,390
6,964
6,964
Total Tobacco & NGP
22,084
21,307
22,413
21,656
Distribution
11,104
11,104
10,819
10,819
Eliminations
(777)
\u2013
(757)
\u2013
Total Group
32,411
32,411
32,475
32,475
The eliminations all relate to Tobacco & NGP sales to Distribution. Tobacco & NGP net revenue
2024 2023
\u00a3 million
Tobacco
NGP
Total
Tobacco
NGP
Total
Europe
3,106
260
3,366
3,020
220
3,240
Americas
2,793
43
2,836
2,778
34
2,812
AAACE
1,929
26
1,955
1,949
11
1,960
Total Tobacco & NGP
7,828
329
8,157
7,747
265
8,012
Adjusted operating profit and reconciliation to profit before tax
\u00a3 million
2024
2023
Tobacco & NGP
Europe
1,541
1,482
Americas
1,235
1,257
AAACE
811
844
Total Tobacco & NGP
3,587
3,583
Distribution
330
306
Eliminations
(6)
(2)
Adjusted operating profit
3,911
3,887
Russia, Ukraine and associated markets - Tobacco & NGP
\u2013
(4)
Amortisation and impairment of acquired intangibles - Tobacco & NGP
(345)
(339)
Amortisation of acquired intangibles - Distribution
(8)
(8)
Fair value adjustment and impairment of other financial assets - Tobacco & NGP
\u2013
(36)
Loss on disposal of subsidiaries - Tobacco & NGP
\u2013
(1)
Charges related to legal provisions - Tobacco & NGP
\u2013
(85)
Structural changes to defined benefit pension schemes - Tobacco & NGP
(4)
(12)
Operating profit
3,554
3,402
Net finance costs
(534)
(298)
Share of profit of investments accounted for using the equity method
9
7
Profit before tax
3,029
3,111
Other information
2024
Additions to Depreciation Other
property, plant and software intangible asset Inventory
\u00a3 million and equipment amortisation amortisation impairments
Tobacco & NGP
Europe
60
88
7
16
Americas
30
27
1
4
AAACE
51
40
\u2013
11
Total Tobacco & NGP
141
155
8
31
Distribution
38
37
\u2013
\u2013
Total Group
179
192
8
31
2023
Additions to Depreciation Other
property, plant and software intangible asset Inventory
\u00a3 million and equipment amortisation amortisation impairments
Tobacco & NGP
Europe
69
79
10
30
Americas
36
20
1
3
AAACE
46
41
\u2013
13
Total Tobacco & NGP
151
140
11
46
Distribution
40
41
\u2013
\u2013
Total Group
191
181
11
46
The above tables include items that have been recognised within segment. Materiality has been assessed on both a qualitative and quantitative basis. Additional geographic analysis External revenue and non-current assets are presented for individually significant countries. The geographical analysis is based on country of origin. The Group's products are sold in over 120 countries.
2024
2023
External Non-current External Non-current
\u00a3 million revenue assets revenue assets
UK
3,781
161
3,926
148
Germany
4,501
3,156
4,142
3,245
France
3,374
2,282
3,428
2,350
USA
3,648
4,968
3,657
5,646
Other
17,107
7,350
17,322
7,553
Total Group
32,411
17,917
32,475
18,942
Non-current assets comprise intangible assets, property, plant and equipment, right of use assets and investments accounted for using the equity method. ", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-578": { "value": "Additional geographic analysis External revenue and non-current assets are presented for individually significant countries. The geographical analysis is based on country of origin. The Group's products are sold in over 120 countries.
2024
2023
External Non-current External Non-current
\u00a3 million revenue assets revenue assets
UK
3,781
161
3,926
148
Germany
4,501
3,156
4,142
3,245
France
3,374
2,282
3,428
2,350
USA
3,648
4,968
3,657
5,646
Other
17,107
7,350
17,322
7,553
Total Group
32,411
17,917
32,475
18,942
Non-current assets comprise intangible assets, property, plant and equipment, right of use assets and investments accounted for using the equity method.", "dimensions": { "concept": "ifrs-full:DisclosureOfGeographicalAreasExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-506": { "value": "
4. OPERATING PROFIT
Operating profit is stated after charging/(crediting):
\u00a3 million
2024
2023
Raw materials and consumables used
950
773
Changes in inventories of finished goods - Tobacco & NGP
2,516
2,630
Changes in inventories of finished goods - Distribution
8,243
7,994
Depreciation and impairment of fixed assets
153
153
Amortisation and impairment of intangible assets and investments accounted for using the equity method
399
394
Expenses relating to short-term leases
10
4
Expenses relating to low value asset leases
2
1
Depreciation and impairment of right of use assets
95
85
Net foreign exchange gains
(3)
(11)
Write down of inventories
28
40
Profit on disposal of non-current assets
13
39
Write back of trade receivables
(3)
(5)
Analysis of fees payable to Ernst & Young LLP and its associates
\u00a3 million
2024
2023
Parent Company and consolidated financial statements
3.2
3.1
The Company's subsidiaries
6.8
6.5
T
otal audit fees
10.0
9.6
Audit-related assurance services
0.5
0.5
T
o
t
a
l
a
u
d
i
t
-
r
e
l
a
t
e
d
f
e
e
s
10.5
10.1
Other assurance services
1.2
0.5
T
otal non
-
audit fees
1.2
0.5
T
otal auditor's remuneration
11.7
10.6
s
Audit fees for the year ended 30 September 2023 reflect the final amounts paid.
6. RESTRUCTURING COSTS
2024
2023
\u00a3 million
Costs
Cash spend
Costs
Cash spend
2021
Strategic review programme
\u2013
25
\u2013
61
Other
\u2013
18
\u2013
37
\u2013
43
\u2013
98
Restructuring projects involve significant one-off costs that are incurred in integrating acquired businesses and in major rationalisation and optimisation initiatives together with their related tax effects. As these projects are not part of business as usual, any costs incurred are classified as restructuring costs and are included within administrative and other expenses in the consolidated income statement and treated as adjusting items. No accounting charges have been recognised in the current period in relation to historic restructuring programmes, however there remain some ongoing cash costs to be incurred which are not expected to be in excess of existing provisions. ", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-579": { "value": "4. OPERATING PROFIT Operating profit is stated after charging/(crediting):
\u00a3 million
2024
2023
Raw materials and consumables used
950
773
Changes in inventories of finished goods - Tobacco & NGP
2,516
2,630
Changes in inventories of finished goods - Distribution
8,243
7,994
Depreciation and impairment of fixed assets
153
153
Amortisation and impairment of intangible assets and investments accounted for using the equity method
399
394
Expenses relating to short-term leases
10
4
Expenses relating to low value asset leases
2
1
Depreciation and impairment of right of use assets
95
85
Net foreign exchange gains
(3)
(11)
Write down of inventories
28
40
Profit on disposal of non-current assets
13
39
Write back of trade receivables
(3)
(5)
Analysis of fees payable to Ernst & Young LLP and its associates
\u00a3 million
2024
2023
Parent Company and consolidated financial statements
3.2
3.1
The Company's subsidiaries
6.8
6.5
T
otal audit fees
10.0
9.6
Audit-related assurance services
0.5
0.5
T
o
t
a
l
a
u
d
i
t
-
r
e
l
a
t
e
d
f
e
e
s
10.5
10.1
Other assurance services
1.2
0.5
T
otal non
-
audit fees
1.2
0.5
T
otal auditor's remuneration
11.7
10.6
s Audit fees for the year ended 30 September 2023 reflect the final amounts paid. ", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-541": { "value": "4. OPERATING PROFIT Operating profit is stated after charging/(crediting):
\u00a3 million
2024
2023
Raw materials and consumables used
950
773
Changes in inventories of finished goods - Tobacco & NGP
2,516
2,630
Changes in inventories of finished goods - Distribution
8,243
7,994
Depreciation and impairment of fixed assets
153
153
Amortisation and impairment of intangible assets and investments accounted for using the equity method
399
394
Expenses relating to short-term leases
10
4
Expenses relating to low value asset leases
2
1
Depreciation and impairment of right of use assets
95
85
Net foreign exchange gains
(3)
(11)
Write down of inventories
28
40
Profit on disposal of non-current assets
13
39
Write back of trade receivables
(3)
(5)
Analysis of fees payable to Ernst & Young LLP and its associates
\u00a3 million
2024
2023
Parent Company and consolidated financial statements
3.2
3.1
The Company's subsidiaries
6.8
6.5
T
otal audit fees
10.0
9.6
Audit-related assurance services
0.5
0.5
T
o
t
a
l
a
u
d
i
t
-
r
e
l
a
t
e
d
f
e
e
s
10.5
10.1
Other assurance services
1.2
0.5
T
otal non
-
audit fees
1.2
0.5
T
otal auditor's remuneration
11.7
10.6
s Audit fees for the year ended 30 September 2023 reflect the final amounts paid. ", "dimensions": { "concept": "ifrs-full:DisclosureOfProfitLossFromOperatingActivitiesExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-587": { "value": "
\u00a3 million
2024
2023
Raw materials and consumables used
950
773
Changes in inventories of finished goods - Tobacco & NGP
2,516
2,630
Changes in inventories of finished goods - Distribution
8,243
7,994
Depreciation and impairment of fixed assets
153
153
Amortisation and impairment of intangible assets and investments accounted for using the equity method
399
394
Expenses relating to short-term leases
10
4
Expenses relating to low value asset leases
2
1
Depreciation and impairment of right of use assets
95
85
Net foreign exchange gains
(3)
(11)
Write down of inventories
28
40
Profit on disposal of non-current assets
13
39
Write back of trade receivables
(3)
(5)
13. PROPERTY, PLANT AND EQUIPMENT
2024
Fixtures
Plant and and motor
\u00a3 million
Property
equipment vehicles Total
At 1 October 2023
756
2,065
484
3,305
Additions
10
127
41
178
Acquisitions
\u2013
1
\u2013
1
Disposals
(24)
(69)
(48)
(141)
Hyperinflation adjustment (note 1)
1
10
1
12
Reclassifications
18
(5)
(13)
\u2013
Exchange movements
(25)
(81)
(15)
(121)
At 30 September 2024
736
2,048
450
3,234
D
epreciation and impairment
At 1 October 2023
177
1,203
308
1,688
Depreciation charge for the year
16
102
36
154
Impairment
(3)
2
\u2013
(1)
Disposals
(12)
(47)
(46)
(105)
Reclassifications
\u2013
4
(4)
\u2013
Exchange movements
(10)
(42)
(11)
(63)
At 30 September 2024
168
1,222
283
1,673
N
et book value
At 30 September 2024
568
826
167
1,561
C Cost
2023
Fixtures
Plant and and motor
\u00a3 million
Property
equipment vehicles Total
At 1 October 2022
806
2,080
455
3,341
Additions
3
130
58
191
Acquisitions
\u2013
5
9
14
Disposals
(22)
(74)
(24)
(120)
Hyperinflation adjustment (note 1)
\u2013
5
\u2013
5
Exchange movements
(31)
(81)
(14)
(126)
At 30 September 2023
756
2,065
484
3,305
D
epreciation and impairment
At 1 October 2022
181
1,200
301
1,682
Depreciation charge for the year
17
98
32
147
Impairment
\u2013
6
\u2013
6
Disposals
(11)
(60)
(15)
(86)
Exchange movements
(10)
(41)
(10)
(61)
At 30 September 2023
177
1,203
308
1,688
N
et book value
At 30 September 2023
579
862
176
1,617
A
ssets under construction included above:
At 30 September 2024
122
At 30 September 2023
107
C Cost", "dimensions": { "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-565": { "value": "Analysis of fees payable to Ernst & Young LLP and its associates
\u00a3 million
2024
2023
Parent Company and consolidated financial statements
3.2
3.1
The Company's subsidiaries
6.8
6.5
T
otal audit fees
10.0
9.6
Audit-related assurance services
0.5
0.5
T
o
t
a
l
a
u
d
i
t
-
r
e
l
a
t
e
d
f
e
e
s
10.5
10.1
Other assurance services
1.2
0.5
T
otal non
-
audit fees
1.2
0.5
T
otal auditor's remuneration
11.7
10.6
s Audit fees for the year ended 30 September 2023 reflect the final amounts paid. ", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-507": { "value": "
5. INVESTMENT INCOME AND FINANCE COSTS
\u00a3 million
2024
2023
I
nvestment income
Fair value gains on derivative financial instruments
513
707
Net exchange gains on financing activities
9
10
Interest income on net defined benefit assets
22
43
Interest income on bank deposits
16
12
T
otal investment income
560
772
F
inance costs
Fair value losses on derivative financial instruments
(632)
(568)
Interest cost on net defined benefit liabilities
(33)
(30)
Tax interest cost
(10)
(50)
Interest cost on lease liabilities
(14)
(10)
Interest cost on bank and other loans
(404)
(412)
Effect of discounting on long-term provisions
(1)
\u2013
T
otal finance costs
(1,094)
(1,070)
N
et finance costs
(534)
(298)
Prior year amounts for interest income/(cost) on net defined benefit assets/(liabilities) have been reclassified to be in accordance with IAS
19 to show the net amounts per defined benefit scheme, having previously been presented gross. Total investment income and total
finance costs have been reclassified accordingly. The effect is offsetting in nature and reduces both amounts by \u00a3135 million. There is no
impact to net finance costs or the other primary statements.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-590": { "value": "5. INVESTMENT INCOME AND FINANCE COSTS
\u00a3 million
2024
2023
I
nvestment income
Fair value gains on derivative financial instruments
513
707
Net exchange gains on financing activities
9
10
Interest income on net defined benefit assets
22
43
Interest income on bank deposits
16
12
T
otal investment income
560
772
F
inance costs
Fair value losses on derivative financial instruments
(632)
(568)
Interest cost on net defined benefit liabilities
(33)
(30)
Tax interest cost
(10)
(50)
Interest cost on lease liabilities
(14)
(10)
Interest cost on bank and other loans
(404)
(412)
Effect of discounting on long-term provisions
(1)
\u2013
T
otal finance costs
(1,094)
(1,070)
N
et finance costs
(534)
(298)
Prior year amounts for interest income/(cost) on net defined benefit assets/(liabilities) have been reclassified to be in accordance with IAS 19 to show the net amounts per defined benefit scheme, having previously been presented gross. Total investment income and total finance costs have been reclassified accordingly. The effect is offsetting in nature and reduces both amounts by \u00a3135 million. There is no impact to net finance costs or the other primary statements.", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-588": { "value": "5. INVESTMENT INCOME AND FINANCE COSTS
\u00a3 million
2024
2023
I
nvestment income
Fair value gains on derivative financial instruments
513
707
Net exchange gains on financing activities
9
10
Interest income on net defined benefit assets
22
43
Interest income on bank deposits
16
12
T
otal investment income
560
772
F
inance costs
Fair value losses on derivative financial instruments
(632)
(568)
Interest cost on net defined benefit liabilities
(33)
(30)
Tax interest cost
(10)
(50)
Interest cost on lease liabilities
(14)
(10)
Interest cost on bank and other loans
(404)
(412)
Effect of discounting on long-term provisions
(1)
\u2013
T
otal finance costs
(1,094)
(1,070)
N
et finance costs
(534)
(298)
Prior year amounts for interest income/(cost) on net defined benefit assets/(liabilities) have been reclassified to be in accordance with IAS 19 to show the net amounts per defined benefit scheme, having previously been presented gross. Total investment income and total finance costs have been reclassified accordingly. The effect is offsetting in nature and reduces both amounts by \u00a3135 million. There is no impact to net finance costs or the other primary statements.", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-580": { "value": "5. INVESTMENT INCOME AND FINANCE COSTS
\u00a3 million
2024
2023
I
nvestment income
Fair value gains on derivative financial instruments
513
707
Net exchange gains on financing activities
9
10
Interest income on net defined benefit assets
22
43
Interest income on bank deposits
16
12
T
otal investment income
560
772
F
inance costs
Fair value losses on derivative financial instruments
(632)
(568)
Interest cost on net defined benefit liabilities
(33)
(30)
Tax interest cost
(10)
(50)
Interest cost on lease liabilities
(14)
(10)
Interest cost on bank and other loans
(404)
(412)
Effect of discounting on long-term provisions
(1)
\u2013
T
otal finance costs
(1,094)
(1,070)
N
et finance costs
(534)
(298)
Prior year amounts for interest income/(cost) on net defined benefit assets/(liabilities) have been reclassified to be in accordance with IAS 19 to show the net amounts per defined benefit scheme, having previously been presented gross. Total investment income and total finance costs have been reclassified accordingly. The effect is offsetting in nature and reduces both amounts by \u00a3135 million. There is no impact to net finance costs or the other primary statements.", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-566": { "value": "5. INVESTMENT INCOME AND FINANCE COSTS
\u00a3 million
2024
2023
I
nvestment income
Fair value gains on derivative financial instruments
513
707
Net exchange gains on financing activities
9
10
Interest income on net defined benefit assets
22
43
Interest income on bank deposits
16
12
T
otal investment income
560
772
F
inance costs
Fair value losses on derivative financial instruments
(632)
(568)
Interest cost on net defined benefit liabilities
(33)
(30)
Tax interest cost
(10)
(50)
Interest cost on lease liabilities
(14)
(10)
Interest cost on bank and other loans
(404)
(412)
Effect of discounting on long-term provisions
(1)
\u2013
T
otal finance costs
(1,094)
(1,070)
N
et finance costs
(534)
(298)
Prior year amounts for interest income/(cost) on net defined benefit assets/(liabilities) have been reclassified to be in accordance with IAS 19 to show the net amounts per defined benefit scheme, having previously been presented gross. Total investment income and total finance costs have been reclassified accordingly. The effect is offsetting in nature and reduces both amounts by \u00a3135 million. There is no impact to net finance costs or the other primary statements.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-542": { "value": "5. INVESTMENT INCOME AND FINANCE COSTS
\u00a3 million
2024
2023
I
nvestment income
Fair value gains on derivative financial instruments
513
707
Net exchange gains on financing activities
9
10
Interest income on net defined benefit assets
22
43
Interest income on bank deposits
16
12
T
otal investment income
560
772
F
inance costs
Fair value losses on derivative financial instruments
(632)
(568)
Interest cost on net defined benefit liabilities
(33)
(30)
Tax interest cost
(10)
(50)
Interest cost on lease liabilities
(14)
(10)
Interest cost on bank and other loans
(404)
(412)
Effect of discounting on long-term provisions
(1)
\u2013
T
otal finance costs
(1,094)
(1,070)
N
et finance costs
(534)
(298)
Prior year amounts for interest income/(cost) on net defined benefit assets/(liabilities) have been reclassified to be in accordance with IAS 19 to show the net amounts per defined benefit scheme, having previously been presented gross. Total investment income and total finance costs have been reclassified accordingly. The effect is offsetting in nature and reduces both amounts by \u00a3135 million. There is no impact to net finance costs or the other primary statements.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-543": { "value": "6. RESTRUCTURING COSTS 2024 2023 \u00a3 million Costs Cash spend Costs Cash spend 2021 Strategic review programme \u2013 25 \u2013 61 Other \u2013 18 \u2013 37 \u2013 43 \u2013 98 Restructuring projects involve significant one-off costs that are incurred in integrating acquired businesses and in major rationalisation and optimisation initiatives together with their related tax effects. As these projects are not part of business as usual, any costs incurred are classified as restructuring costs and are included within administrative and other expenses in the consolidated income statement and treated as adjusting items. No accounting charges have been recognised in the current period in relation to historic restructuring programmes, however there remain some ongoing cash costs to be incurred which are not expected to be in excess of existing provisions. ", "dimensions": { "concept": "imperialbrandsplc:DescriptionOfRestructuringCosts", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-508": { "value": "
7. DIRECTORS AND EMPLOYEES
Employment costs
\u00a3 million
2024
2023
Wages and salaries
923
882
Social security costs
202
186
Other pension costs (note 24)
29
41
1,154
1,109
Share-based payments (note 27)
32
31
1,186
1,140
Operating executive (excluding executive directors)
\u00a3 million
2024
2023
Base salary
4.6
4.7
Benefits
0.7
0.9
Pension salary supplement
0.6
0.7
Bonus
4.9
4.8
Termination payments
0.2
2.1
LTIP annual vesting
1
7.2
7.8
18.2
21.0
1. Share plans vesting represent the value of LTIP awards (inclusive of Recruitment Awards) where the performance periods ends in the year.
Note: aggregate remuneration paid to or receivable by Executive Directors, Non-Executive Directors and members of the Executive
Leadership Team for qualifying services in accordance with IAS 24, which includes National Insurance and similar charges,
was \u00a337,049,852 (2023: \u00a339,323,966).
Key management compensation
1
\u00a3 million
2024
2023
Short-term employee benefits
17.7
17.0
Termination payments
0.2
2.1
Share-based payments (in accordance with IAS 24)
14.4
15.0
32.3
34.1
1. Key management includes Directors, members of the Executive Committee and the Company Secretary.
Details of Directors' emoluments and interests, and of key management compensation which represent related-party transactions
requiring disclosure under IAS 24, are provided within the Directors' Remuneration Report. The Directors' Remuneration Report includes
details on salary, benefits, pension and share plans. These disclosures form part of the financial statements.
Number of people employed by the Group during the year
2024
2023
At 30 At 30
September
Average
September
Average
Tobacco & NGP
18,900
18,400
18,800
19,100
Distribution
6,700
6,500
6,400
6,400
25,600
24,900
25,200
25,500
Number of people employed by the Group by location during the year
2024
2023
At 30 At 30
September Average September Average
UK and European Union
12,400
12,100
12,200
11,900
Americas
4,900
4,700
4,700
5,100
Rest of the World
8,300
8,100
8,300
8,500
25,600
24,900
25,200
25,500
", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-544": { "value": "Key management compensation1
\u00a3 million
2024
2023
Short-term employee benefits
17.7
17.0
Termination payments
0.2
2.1
Share-based payments (in accordance with IAS 24)
14.4
15.0
32.3
34.1
1. Key management includes Directors, members of the Executive Committee and the Company Secretary. Details of Directors' emoluments and interests, and of key management compensation which represent related-party transactions requiring disclosure under IAS 24, are provided within the Directors' Remuneration Report. The Directors' Remuneration Report includes details on salary, benefits, pension and share plans. These disclosures form part of the financial statements.", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-509": { "value": "
8. TAX
The major components of income tax expense for the years ended 30 September 2024 and 2023:
2024
2023
UK current tax
Current year credited to the consolidated income statement
(95)
(55)
Current year charged to consolidated other comprehensive income
197
115
Total current year UK current tax
102
60
Adjustments in respect of prior years (credited)/charged to the consolidated income statement
(80)
15
Total UK current tax
22
75
Overseas current tax
Current year charged to the consolidated income statement
704
620
Total current year overseas current tax
704
620
Adjustments in respect of prior years charged to the consolidated income statement
40
233
Total overseas current tax
744
853
Total current tax charged to the consolidated statement of other comprehensive income
766
928
\u00a3 million
2024
2023
UK current tax
Current year
(95)
(55)
Adjustments in respect of prior years
80
15
Overseas current tax
Current year
704
620
Adjustments in respect of prior years
40
233
Total current tax
569
813
Deferred tax
Relating to origination and reversal of temporary differences
(287)
(158)
T
otal tax charged to the c
o
nsolidated income statement
282
655
\u00a3 million
2024
2023
Tax related to items recognised in consolidated other comprehensive income during the year:
Current tax on hedge of net investment and quasi-equity loans
197
115
Total current tax
197
115
Deferred tax on actuarial gains and losses
(37)
(135)
Deferred tax on hyperinflation adjustment
2
1
Total deferred tax
(35)
(134)
Total tax credited to consolidated other comprehensive income
162
(19)
\u00a3 million
2024
2023
Tax related to items recognised in equity during the year:
Current tax on share-based payments
(4)
\u2013
Deferred tax on share-based payments
(2)
(1)
Total tax credited to equity
(6)
(1)
Factors affecting the tax charge for the year
The tax on the Group's profit before tax differs from the theoretical amount that would arise using the average UK corporation tax rate of
25.0% (2023: 22.0%) as follows:
\u00a3 million
2024
2023
Profit before tax
3,029
3,111
Tax at the UK corporation tax rate of 25.0% (2023: 22.0%)
757
684
Tax effects of:
Differences in effective tax rates on overseas earnings
(56)
24
Movement in provision for uncertain tax positions
170
211
Remeasurement of deferred tax balances arising from changes in tax rates
5
\u2013
Recognition of deferred tax assets for tax credits
(293)
\u2013
Remeasurement of previously recognised deferred tax assets
(2)
(6)
Increase in previously unrecognised deferred tax assets
\u2013
1
Deferred tax on unremitted earnings
12
5
Share of profit of investments accounted for using the equity method
(2)
(2)
Non-deductible expenses
24
24
Non-taxable gains on net foreign exchange on financial instruments
(198)
(122)
Recognition of deferred tax assets
\u2013
(212)
Provision for state aid tax recoverable
(101)
\u2013
Adjustments in respect of prior years
(34)
48
Total tax charged to the consolidated income statement
282
655
Differences in effective tax rates on overseas earnings represent the impact of worldwide profits being taxed at rates different from 25.0%.
The remeasurement of deferred tax balances arising from changes in tax rates for the year is \u00a35 million (2023: \u00a3nil).
During the year the Group has increased the provision for deferred tax on unremitted earnings by \u00a37 million (2023: \u00a35 million increase).
The tax will arise on the distribution of profits through the Group and on planned Group simplification.
Movement on the current tax account
\u00a3 million
2024
2023
At 1 October
(306)
27
Charged to the consolidated income statement
(569)
(813)
Charged to other comprehensive income
(197)
(115)
Credited to equity
4
\u2013
Cash paid
888
590
Exchange movements
17
6
Balance sheet reclassification
\u2013
(1)
At 30 September
(163)
(306)
The cash tax paid in the year is \u00a3303 million higher than the current tax charge (2023: \u00a3223 million lower). This arises as a result of
timing differences between the accrual of income taxes and the actual payment of cash and the movement in the provision for
uncertain tax positions.
Analysis of current tax account
\u00a3 million
2024
2023
State aid tax recoverable
101
\u2013
Current tax assets
148
112
Current tax liabilities
(412)
(418)
(163)
(306)
Uncertain tax positions
As an international business the Group is exposed to uncertain tax positions and changes in legislation in the jurisdictions in which it
operates. The Group\u2019s uncertain tax positions principally include cross-border transfer pricing, interpretation of new or complex tax
legislation and tax arising on the valuation of assets.
Provisions arising from uncertain tax positions taken in the calculation of tax assets and liabilities are included within current and
deferred tax liabilities. At 30 September 2024 the total value of these provisions excluding offsetting assets under mutual agreement
procedure was \u00a3365 million (2023: \u00a3261 million excluding offsetting assets). The assessment of uncertain tax positions is subjective and
significant management judgement is required. This judgement is based on current interpretation of legislation, management experience
and professional advice. Until matters are finally concluded it is possible that amounts ultimately paid will be different from the
amounts provided.
Management have assessed the Group\u2019s provision for uncertain tax positions and have concluded that apart from the matters referred to
below the provisions in place are not material individually or in aggregate, and that a reasonably possible change in the next financial
year would not have a material impact on the results of the Group.
French tax litigation
The Group has an ongoing challenge from the French tax authorities, which is now in litigation, and could lead to total liabilities of \u00a3254
million including tax, interest, and penalties. The challenge concerns the valuation placed on the shares of Altadis Distribution France
(now known as Logista France) following an intragroup transfer of shares in October 2012 and the tax consequences flowing from a
potentially higher value that is argued for by the tax authorities. In May 2023 the Administrative Tribunal of Montreuil issued its decision,
ruling in favour of the French tax authorities. In July 2023 the Group appealed to the Administrative Court of Appeal of Paris, with any
hearing not expected until December 2024 at the earliest. Whilst the Group has appealed, in the light of the Administrative Tribunal of
Montreuil\u2019s decision, and having subsequently reassessed the probability of a successful appeal, the Group determined it was appropriate
to maintain the provision for uncertain tax positions, of which \u00a364 million was paid in September 2024, at \u00a3111 million (30 September 2023:
\u00a3180 million).
State aid UK CFC
In April 2019, the EU Commission\u2019s final decision regarding its investigation into the UK\u2019s Controlled Foreign Company (CFC) regime was
published. It concluded that the legislation up until December 2018 partially represented state aid. The UK Government (along with a
number of UK corporates, that made a similar application) appealed to the European Court seeking annulment of the EU Commission\u2019s
decision. Based, however, on the Commission\u2019s decision and despite the appeals, the UK Government was obliged to recover the
purported state aid received. In June 2022 the European General Court rejected the appeals, resulting in a subsequent appeal to the CJEU
in January 2024. The CJEU handed down its decision on 19 September 2024, annulling the EU Commission decision and setting aside the
judgment of the General Court, ruling that the taxation of a CFC regime did not constitute state aid. In light of the CJEU decision, the
Group has now reversed a provision in order to recognise a receivable for c.\u00a3101 million state aid (and c.\u00a39 million of interest) previously
paid. Noting the recovery of the receivable is pending a change in UK regulations which is required to facilitate the repayment of the
previously collected state aid.
Transfer pricing
The Group has been subject to tax audits relating to transfer pricing matters in several jurisdictions, principally UK, France and Germany.
The Group holds a provision of \u00a3245 million excluding offsetting assets (2023: \u00a368 million excluding offsetting assets) in respect of these
items. In December 2021 the Group concluded a transfer pricing audit with the French tax authorities. In September 2022 the Group
concluded transfer pricing audits with the UK and German tax authorities. Settlements of the French and UK audits were made during
2022. Settlement of the German audit was made during 2023. In September 2023 an additional separate transfer pricing audit was opened
by the German tax authorities. Due to new regulations introduced in FY24 in Germany which could be considered to be of a clarifying
nature rather than any new principle, the Group has made additional provision of \u00a3155 million considering the range of potential
outcomes and the balance of probabilities associated with each potential outcome, the maximum potential exposure being \u00a3213 million.
The Group believes the total transfer pricing provision held appropriately provides for this and other transfer pricing issues.
23. DEFERRED TAX ASSETS AND LIABILITIES
Deferred tax relates to the following:
Consolidated Consolidated Consolidated Consolidated
income income balance balance
statement statement sheet sheet
\u00a3 million 2024 2023 2024 2023
Temporary differences on depreciation and amortisation
(53)
164
(711)
(716)
Retirement benefits
(5)
(9)
48
30
Tax credits and losses
393
6
579
282
Accruals, provisions and other temporary differences
(48)
(3)
193
186
Deferred tax benefit
287
158
Net deferred tax assets/(liabilities)
109
(218)
Reflected in the consolidated balance sheet as follows
\u00a3 million
2024
2023
Deferred tax assets
889
653
Deferred tax liabilities
(780)
(871)
109
(218)
Reconciliation of net deferred tax liabilities
\u00a3 million
2024
2023
At 1 October
(218)
(522)
Credited to the income statement
287
158
Credited to other comprehensive income
36
134
Credited to equity
2
1
Acquisitions
\u2013
(15)
Exchange movements
2
22
Other movements
(16)
4
As at 30 September
109
(218)
Unrecognised deferred tax assets
Gross Net Gross Net
\u00a3 million 2024 2024 2023 2023
Tax losses
245
64
235
62
Tax credits
806
282
15
15
Other temporary differences
77
22
84
24
1,128
368
334
101
Analysis of unrecognised deferred tax assets by expiry date
Gross Net Gross Net
\u00a3 million 2024 2024 2023 2023
Tax losses expiring:
No expiry
245
64
235
62
245
64
235
62
Tax credits expiring:
Within 1 year
\u2013
\u2013
15
15
No expiry
806
282
\u2013
\u2013
806
282
15
15
Other temporary differences expiring:
No expiry
77
22
84
24
77
22
84
24
In December 2021, the OECD issued model rules for a new global minimum tax framework (Pillar Two), applicable for multinational
enterprise groups with global revenue over 750 million. The legislation implementing the rules in the UK was substantively enacted on
20 June 2023 and will apply to the Group from the financial year ending 30 September 2025 onwards. The Group has applied the
mandatory exception under IAS 12 in relation to the accounting for deferred tax assets and liabilities arising from the implementation of
the Pillar Two model rules.
Based on the assessments carried out so far, although additional tax liabilities are expected to be incurred, the Group does not expect any
significant exposure to Pillar Two income taxes in those jurisdictions where the minimum tax requirement is not met, based
predominantly on the data for the year ended 30 September 2023. The Group is continuing to review this legislation and monitors the
status of implementation of the model rules outside of the UK to assess the potential impact.
Included within net deferred tax liabilities are deferred tax assets recognised of \u00a3213 million (2023: \u00a3257 million) for tax credits arising in
the Group's Spanish business. These tax credits have no time expiry. Utilisation of these tax credits is restricted to 50% of the Spanish
business' taxable profits arising in any given year; those tax law restrictions extend the period over which the deferred tax assets would
otherwise be recovered. The Group considers there to be forecast future taxable profits which support the recognition of these long term
deferred tax assets. The period over which these deferred tax assets are utilised is sensitive to forecasting assumptions about future
growth rates (which may be influenced by the future effects of climate change) and regulatory changes. Any material effects of climate
change in the long term could extend the period over which the deferred tax asset will be recovered but as the tax credits do not expire,
the Group considers there is positive evidence that sufficient future taxable profits would still be available. Based on a range of forecast
scenarios modelling sensitivities (including the future effects of climate change) these deferred tax assets are expected to be utilised over
a period of 16 years.
Included within net deferred tax liabilities are deferred tax assets recognised for retirement benefits of \u00a398 million (2023: \u00a388 million)
arising in the Group's German business. These deferred tax assets are expected to be recovered both by way of utilisation against the
reversal of deferred tax liabilities of \u00a349 million (2023: \u00a340 million) arising in the Group's German business and by way of utilisation
against future taxable profits. The Group considers there to be forecast future taxable profits which support the recognition of these long
term deferred tax assets. Based on a range of forecast scenarios modelling sensitivities these deferred tax assets are expected to be
recovered over a period of 20-40 years corresponding to the life of the pension scheme. The period over which these deferred tax assets
are utilised is sensitive to forecasting assumptions about future growth rates of the underlying business (which may be influenced by the
future effects of climate change) and regulatory changes.
Included within net deferred tax liabilities are deferred tax assets recognised for intangibles of \u00a3179 million (2023: \u00a3199 million) arising in
the Group's Dutch business. These deferred tax assets are expected to be recovered by way of utilisation against future taxable profits. The
Group considers there to be forecast future taxable profits which support the recognition of these long term deferred tax assets. The
period over which these deferred tax assets are utilised is sensitive to forecasting assumptions about future growth rates (which may be
influenced by the future effects of climate change) and regulatory changes. These deferred tax assets are expected to be recovered over a
period of 15 years corresponding to the life of the intangibles.
Included within net deferred tax liabilities are deferred tax assets recognised of \u00a3293 million (2023: \u00a30 million) in relation to tax credits
brought forward within the Group\u2019s Maltese treasury centre, recognised as a result of clarifying tax guidance issued by the tax authorities
during FY24 and the resulting intention to utilise these brought forward tax credits against taxable income arising from long-term loans
of a fixed term tenure, which were refinanced during the financial year. The period over which these deferred tax assets are utilised is
sensitive to forecasting assumptions about future growth rates of the underlying business (which may be influenced by the future effects
of climate change) and regulatory changes. The Group considers there is positive evidence that sufficient future taxable profits would still
be available. Based on a range of forecast scenarios modelling sensitivities these deferred tax assets are expected to be utilised over a
period of 5-10 years. Tax losses arising within the Maltese group in periods prior to the formation of tax fiscal units, are kept in abeyance
and therefore unavailable for utilisation within the fiscal unit and no deferred tax asset has been recognised thereon, but amounts are
included within unrecognised deferred tax.
We have reviewed the recoverability of deferred tax assets in overseas territories in the light of forecast business performance. In 2024 we
have recognised deferred tax assets of \u00a33 million that were previously unrecognised (2023: recognised deferred tax assets of \u00a36 million
that were previously unrecognised) on the basis that it is more likely than not that these are recoverable.
A deferred tax liability of \u00a346 million (2023: \u00a343 million) is recognised in respect of taxation expected to arise on the future distribution of
unremitted earnings totalling \u00a32.17 billion (2023: \u00a32 billion).
The temporary differences associated with investments in the Group's subsidiaries, associates and joint ventures for which a deferred tax
liability has not been recognised in the periods presented, aggregate to \u00a31,472 million (2023: \u00a31,477 million) for which a deferred tax
liability of \u00a337 million (2023: \u00a338 million) has not been recognised. No liability has been recognised because the Group is in a position to
control the timing of the reversal of those temporary differences and it is probable that such differences will not reverse in the
foreseeable future.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-591": { "value": "8. TAX The major components of income tax expense for the years ended 30 September 2024 and 2023:
2024
2023
UK current tax
Current year credited to the consolidated income statement
(95)
(55)
Current year charged to consolidated other comprehensive income
197
115
Total current year UK current tax
102
60
Adjustments in respect of prior years (credited)/charged to the consolidated income statement
(80)
15
Total UK current tax
22
75
Overseas current tax
Current year charged to the consolidated income statement
704
620
Total current year overseas current tax
704
620
Adjustments in respect of prior years charged to the consolidated income statement
40
233
Total overseas current tax
744
853
Total current tax charged to the consolidated statement of other comprehensive income
766
928
\u00a3 million
2024
2023
UK current tax
Current year
(95)
(55)
Adjustments in respect of prior years
80
15
Overseas current tax
Current year
704
620
Adjustments in respect of prior years
40
233
Total current tax
569
813
Deferred tax
Relating to origination and reversal of temporary differences
(287)
(158)
T
otal tax charged to the c
o
nsolidated income statement
282
655
\u00a3 million
2024
2023
Tax related to items recognised in consolidated other comprehensive income during the year:
Current tax on hedge of net investment and quasi-equity loans
197
115
Total current tax
197
115
Deferred tax on actuarial gains and losses
(37)
(135)
Deferred tax on hyperinflation adjustment
2
1
Total deferred tax
(35)
(134)
Total tax credited to consolidated other comprehensive income
162
(19)
\u00a3 million
2024
2023
Tax related to items recognised in equity during the year:
Current tax on share-based payments
(4)
\u2013
Deferred tax on share-based payments
(2)
(1)
Total tax credited to equity
(6)
(1)
Factors affecting the tax charge for the year The tax on the Group's profit before tax differs from the theoretical amount that would arise using the average UK corporation tax rate of 25.0% (2023: 22.0%) as follows:
\u00a3 million
2024
2023
Profit before tax
3,029
3,111
Tax at the UK corporation tax rate of 25.0% (2023: 22.0%)
757
684
Tax effects of:
Differences in effective tax rates on overseas earnings
(56)
24
Movement in provision for uncertain tax positions
170
211
Remeasurement of deferred tax balances arising from changes in tax rates
5
\u2013
Recognition of deferred tax assets for tax credits
(293)
\u2013
Remeasurement of previously recognised deferred tax assets
(2)
(6)
Increase in previously unrecognised deferred tax assets
\u2013
1
Deferred tax on unremitted earnings
12
5
Share of profit of investments accounted for using the equity method
(2)
(2)
Non-deductible expenses
24
24
Non-taxable gains on net foreign exchange on financial instruments
(198)
(122)
Recognition of deferred tax assets
\u2013
(212)
Provision for state aid tax recoverable
(101)
\u2013
Adjustments in respect of prior years
(34)
48
Total tax charged to the consolidated income statement
282
655
Differences in effective tax rates on overseas earnings represent the impact of worldwide profits being taxed at rates different from 25.0%. The remeasurement of deferred tax balances arising from changes in tax rates for the year is \u00a35 million (2023: \u00a3nil). During the year the Group has increased the provision for deferred tax on unremitted earnings by \u00a37 million (2023: \u00a35 million increase). The tax will arise on the distribution of profits through the Group and on planned Group simplification. Movement on the current tax account
\u00a3 million
2024
2023
At 1 October
(306)
27
Charged to the consolidated income statement
(569)
(813)
Charged to other comprehensive income
(197)
(115)
Credited to equity
4
\u2013
Cash paid
888
590
Exchange movements
17
6
Balance sheet reclassification
\u2013
(1)
At 30 September
(163)
(306)
The cash tax paid in the year is \u00a3303 million higher than the current tax charge (2023: \u00a3223 million lower). This arises as a result of timing differences between the accrual of income taxes and the actual payment of cash and the movement in the provision for uncertain tax positions. Analysis of current tax account
\u00a3 million
2024
2023
State aid tax recoverable
101
\u2013
Current tax assets
148
112
Current tax liabilities
(412)
(418)
(163)
(306)
Uncertain tax positions As an international business the Group is exposed to uncertain tax positions and changes in legislation in the jurisdictions in which it operates. The Group\u2019s uncertain tax positions principally include cross-border transfer pricing, interpretation of new or complex tax legislation and tax arising on the valuation of assets. Provisions arising from uncertain tax positions taken in the calculation of tax assets and liabilities are included within current and deferred tax liabilities. At 30 September 2024 the total value of these provisions excluding offsetting assets under mutual agreement procedure was \u00a3365 million (2023: \u00a3261 million excluding offsetting assets). The assessment of uncertain tax positions is subjective and significant management judgement is required. This judgement is based on current interpretation of legislation, management experience and professional advice. Until matters are finally concluded it is possible that amounts ultimately paid will be different from the amounts provided. Management have assessed the Group\u2019s provision for uncertain tax positions and have concluded that apart from the matters referred to below the provisions in place are not material individually or in aggregate, and that a reasonably possible change in the next financial year would not have a material impact on the results of the Group. French tax litigation The Group has an ongoing challenge from the French tax authorities, which is now in litigation, and could lead to total liabilities of \u00a3254 million including tax, interest, and penalties. The challenge concerns the valuation placed on the shares of Altadis Distribution France (now known as Logista France) following an intragroup transfer of shares in October 2012 and the tax consequences flowing from a potentially higher value that is argued for by the tax authorities. In May 2023 the Administrative Tribunal of Montreuil issued its decision, ruling in favour of the French tax authorities. In July 2023 the Group appealed to the Administrative Court of Appeal of Paris, with any hearing not expected until December 2024 at the earliest. Whilst the Group has appealed, in the light of the Administrative Tribunal of Montreuil\u2019s decision, and having subsequently reassessed the probability of a successful appeal, the Group determined it was appropriate to maintain the provision for uncertain tax positions, of which \u00a364 million was paid in September 2024, at \u00a3111 million (30 September 2023: \u00a3180 million). State aid UK CFC In April 2019, the EU Commission\u2019s final decision regarding its investigation into the UK\u2019s Controlled Foreign Company (CFC) regime was published. It concluded that the legislation up until December 2018 partially represented state aid. The UK Government (along with a number of UK corporates, that made a similar application) appealed to the European Court seeking annulment of the EU Commission\u2019s decision. Based, however, on the Commission\u2019s decision and despite the appeals, the UK Government was obliged to recover the purported state aid received. In June 2022 the European General Court rejected the appeals, resulting in a subsequent appeal to the CJEU in January 2024. The CJEU handed down its decision on 19 September 2024, annulling the EU Commission decision and setting aside the judgment of the General Court, ruling that the taxation of a CFC regime did not constitute state aid. In light of the CJEU decision, the Group has now reversed a provision in order to recognise a receivable for c.\u00a3101 million state aid (and c.\u00a39 million of interest) previously paid. Noting the recovery of the receivable is pending a change in UK regulations which is required to facilitate the repayment of the previously collected state aid. Transfer pricing The Group has been subject to tax audits relating to transfer pricing matters in several jurisdictions, principally UK, France and Germany. The Group holds a provision of \u00a3245 million excluding offsetting assets (2023: \u00a368 million excluding offsetting assets) in respect of these items. In December 2021 the Group concluded a transfer pricing audit with the French tax authorities. In September 2022 the Group concluded transfer pricing audits with the UK and German tax authorities. Settlements of the French and UK audits were made during 2022. Settlement of the German audit was made during 2023. In September 2023 an additional separate transfer pricing audit was opened by the German tax authorities. Due to new regulations introduced in FY24 in Germany which could be considered to be of a clarifying nature rather than any new principle, the Group has made additional provision of \u00a3155 million considering the range of potential outcomes and the balance of probabilities associated with each potential outcome, the maximum potential exposure being \u00a3213 million. The Group believes the total transfer pricing provision held appropriately provides for this and other transfer pricing issues. 19. TRADE AND OTHER PAYABLES
2024
2023
\u00a3 million
Current
Non-current
Current
Non-current
Trade payables
1,499
\u2013
1,507
\u2013
Duties payable
5,156
\u2013
5,297
\u2013
Other taxes and social security contributions
1,381
\u2013
1,375
\u2013
Other payables
623
\u2013
526
\u2013
Accruals
838
86
874
27
9,497
86
9,579
27
23. DEFERRED TAX ASSETS AND LIABILITIES Deferred tax relates to the following:
Consolidated Consolidated Consolidated Consolidated
income income balance balance
statement statement sheet sheet
\u00a3 million 2024 2023 2024 2023
Temporary differences on depreciation and amortisation
(53)
164
(711)
(716)
Retirement benefits
(5)
(9)
48
30
Tax credits and losses
393
6
579
282
Accruals, provisions and other temporary differences
(48)
(3)
193
186
Deferred tax benefit
287
158
Net deferred tax assets/(liabilities)
109
(218)
Reflected in the consolidated balance sheet as follows
\u00a3 million
2024
2023
Deferred tax assets
889
653
Deferred tax liabilities
(780)
(871)
109
(218)
Reconciliation of net deferred tax liabilities
\u00a3 million
2024
2023
At 1 October
(218)
(522)
Credited to the income statement
287
158
Credited to other comprehensive income
36
134
Credited to equity
2
1
Acquisitions
\u2013
(15)
Exchange movements
2
22
Other movements
(16)
4
As at 30 September
109
(218)
Unrecognised deferred tax assets
Gross Net Gross Net
\u00a3 million 2024 2024 2023 2023
Tax losses
245
64
235
62
Tax credits
806
282
15
15
Other temporary differences
77
22
84
24
1,128
368
334
101
Analysis of unrecognised deferred tax assets by expiry date
Gross Net Gross Net
\u00a3 million 2024 2024 2023 2023
Tax losses expiring:
No expiry
245
64
235
62
245
64
235
62
Tax credits expiring:
Within 1 year
\u2013
\u2013
15
15
No expiry
806
282
\u2013
\u2013
806
282
15
15
Other temporary differences expiring:
No expiry
77
22
84
24
77
22
84
24
In December 2021, the OECD issued model rules for a new global minimum tax framework (Pillar Two), applicable for multinational enterprise groups with global revenue over 750 million. The legislation implementing the rules in the UK was substantively enacted on 20 June 2023 and will apply to the Group from the financial year ending 30 September 2025 onwards. The Group has applied the mandatory exception under IAS 12 in relation to the accounting for deferred tax assets and liabilities arising from the implementation of the Pillar Two model rules. Based on the assessments carried out so far, although additional tax liabilities are expected to be incurred, the Group does not expect any significant exposure to Pillar Two income taxes in those jurisdictions where the minimum tax requirement is not met, based predominantly on the data for the year ended 30 September 2023. The Group is continuing to review this legislation and monitors the status of implementation of the model rules outside of the UK to assess the potential impact. Included within net deferred tax liabilities are deferred tax assets recognised of \u00a3213 million (2023: \u00a3257 million) for tax credits arising in the Group's Spanish business. These tax credits have no time expiry. Utilisation of these tax credits is restricted to 50% of the Spanish business' taxable profits arising in any given year; those tax law restrictions extend the period over which the deferred tax assets would otherwise be recovered. The Group considers there to be forecast future taxable profits which support the recognition of these long term deferred tax assets. The period over which these deferred tax assets are utilised is sensitive to forecasting assumptions about future growth rates (which may be influenced by the future effects of climate change) and regulatory changes. Any material effects of climate change in the long term could extend the period over which the deferred tax asset will be recovered but as the tax credits do not expire, the Group considers there is positive evidence that sufficient future taxable profits would still be available. Based on a range of forecast scenarios modelling sensitivities (including the future effects of climate change) these deferred tax assets are expected to be utilised over a period of 16 years. Included within net deferred tax liabilities are deferred tax assets recognised for retirement benefits of \u00a398 million (2023: \u00a388 million) arising in the Group's German business. These deferred tax assets are expected to be recovered both by way of utilisation against the reversal of deferred tax liabilities of \u00a349 million (2023: \u00a340 million) arising in the Group's German business and by way of utilisation against future taxable profits. The Group considers there to be forecast future taxable profits which support the recognition of these long term deferred tax assets. Based on a range of forecast scenarios modelling sensitivities these deferred tax assets are expected to be recovered over a period of 20-40 years corresponding to the life of the pension scheme. The period over which these deferred tax assets are utilised is sensitive to forecasting assumptions about future growth rates of the underlying business (which may be influenced by the future effects of climate change) and regulatory changes. Included within net deferred tax liabilities are deferred tax assets recognised for intangibles of \u00a3179 million (2023: \u00a3199 million) arising in the Group's Dutch business. These deferred tax assets are expected to be recovered by way of utilisation against future taxable profits. The Group considers there to be forecast future taxable profits which support the recognition of these long term deferred tax assets. The period over which these deferred tax assets are utilised is sensitive to forecasting assumptions about future growth rates (which may be influenced by the future effects of climate change) and regulatory changes. These deferred tax assets are expected to be recovered over a period of 15 years corresponding to the life of the intangibles. Included within net deferred tax liabilities are deferred tax assets recognised of \u00a3293 million (2023: \u00a30 million) in relation to tax credits brought forward within the Group\u2019s Maltese treasury centre, recognised as a result of clarifying tax guidance issued by the tax authorities during FY24 and the resulting intention to utilise these brought forward tax credits against taxable income arising from long-term loans of a fixed term tenure, which were refinanced during the financial year. The period over which these deferred tax assets are utilised is sensitive to forecasting assumptions about future growth rates of the underlying business (which may be influenced by the future effects of climate change) and regulatory changes. The Group considers there is positive evidence that sufficient future taxable profits would still be available. Based on a range of forecast scenarios modelling sensitivities these deferred tax assets are expected to be utilised over a period of 5-10 years. Tax losses arising within the Maltese group in periods prior to the formation of tax fiscal units, are kept in abeyance and therefore unavailable for utilisation within the fiscal unit and no deferred tax asset has been recognised thereon, but amounts are included within unrecognised deferred tax. We have reviewed the recoverability of deferred tax assets in overseas territories in the light of forecast business performance. In 2024 we have recognised deferred tax assets of \u00a33 million that were previously unrecognised (2023: recognised deferred tax assets of \u00a36 million that were previously unrecognised) on the basis that it is more likely than not that these are recoverable. A deferred tax liability of \u00a346 million (2023: \u00a343 million) is recognised in respect of taxation expected to arise on the future distribution of unremitted earnings totalling \u00a32.17 billion (2023: \u00a32 billion). The temporary differences associated with investments in the Group's subsidiaries, associates and joint ventures for which a deferred tax liability has not been recognised in the periods presented, aggregate to \u00a31,472 million (2023: \u00a31,477 million) for which a deferred tax liability of \u00a337 million (2023: \u00a338 million) has not been recognised. No liability has been recognised because the Group is in a position to control the timing of the reversal of those temporary differences and it is probable that such differences will not reverse in the foreseeable future.", "dimensions": { "concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-510": { "value": "
9. DIVIDENDS
Distributions to ordinary equity holders
Pence per share
\u00a3 million
2024
2023
2022
2024
2023
2022
C
ash:
D
ecember
51.82
49.31
48.47
461
464
458
M
arch
51.82
49.32
48.49
453
457
458
J
une
22.45
21.59
21.27
193
196
202
S
eptember
22.45
21.59
21.27
192
195
202
T
otal
148.54
141.81
139.50
1,299
1,312
1,320
The dividends note, which previously contained details of both paid and proposed distributions, has been reformatted. The table now
aligns the paid dividends with the equivalent amount recorded as a payment to equity shareholders of the Parent Company shown within
the Consolidated Statement of Changes in Equity. Details of proposed dividends are given in narrative form below. The change in the
format of this note does not constitute a restatement within the requirements of IAS 8 Accounting Policies, Changes in Accounting
Estimates and Errors.
The declared third interim dividend for the year ended 30 September 2024 of 54.26 pence per share amounts to a proposed dividend of
\u00a3459 million, which will be paid in December 2024. The proposed final dividend for the year ended 30 September 2024 of 54.26 pence per
share amounts to a proposed dividend payment of \u00a3459 million in March 2025 based on the number of shares ranking for dividend at 30
September 2024, and is subject to shareholder approval. If approved, the total dividend paid in respect of 2024 will be \u00a31,303 million (2023:
\u00a31,305 million). The dividend paid during 2024 is \u00a31,299 million (2023: \u00a31,312 million).
", "dimensions": { "concept": "ifrs-full:DisclosureOfDividendsExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-545": { "value": "0.05426", "decimals": 4, "dimensions": { "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00", "unit": "iso4217:GBP/xbrli:shares" } }, "fact-511": { "value": "
10. EARNINGS PER ORDINARY SHARE
Basic earnings per share is based on the profit for the period attributable to the owners of the parent and the weighted average number of
ordinary shares in issue during the period excluding shares held to satisfy the Group\u2019s employee share schemes and shares purchased by
the Company and held as treasury shares. Diluted earnings per share have been calculated by taking into account the weighted average
number of shares that would be issued if rights held under the employee share schemes were exercised. No instruments have been
excluded from the calculation for any period on the grounds that they are anti-dilutive.
\u00a3 million
2024
2023
Earnings: basic and diluted - attributable to owners of the Parent Company
2,613
2,328
Millions of shares
Weighted average number of shares:
Shares for basic earnings per share
869.0
922.5
Potentially dilutive share options
4.9
5.7
Shares for diluted earnings per share
873.9
928.2
Pence
Basic earnings per share
300.7
252.4
Diluted earnings per share
299.0
250.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-512": { "value": "
11. ACQUISITIONS AND DISPOSALS OF SUBSIDIARIES
Logista
Acquisition of 3 For One SA (Belgium Parcels Service SRL)
In December 2023, Logista Group reached an agreement to acquire 100% ownership of \u201c3 for one SA\u201d, the parent company of Belgium
Parcels Service SRL. Belgium Parcels Service SRL is a company that offers 24-hour courier services in Belgium and Luxembourg, and 24
to 48 hours delivery in the Netherlands, France and Germany. The Belgian company specialises in the distribution of temperature
sensitive products, mainly pharmaceuticals to hospitals and pharmacies.
The total purchase price of these shares amounted to approximately 8 million (\u00a37 million).
As of 30 September 2024, the company had a goodwill of 4 million (\u00a33 million). The valuation of the assets at fair value has been carried
out by an independent expert assessing the acquired intangible assets, which include customer relationships of 2 million (\u00a32 million)
and trademarks for 1 million (\u00a31 million). Cash of 2 million (\u00a32 million), property, plant and equipment of 1 million (\u00a31 million), and non-
current financial liabilities of 2 million (\u00a32 million) were also acquired.
Acquisition of Speedlink Worldwide Express B.V.
On 16 February 2022, the Group\u2019s subsidiary Logista acquired 70% of the share capital of Speedlink Worldwide Express B.V. for a purchase
consideration of 20 million (\u00a316 million) which has been paid in cash. In May 2024, the remaining 30% of the share capital was acquired
for an amount of 10 million (\u00a38 million).
Acquisition of Herinvemol, S.L. (Transportes El Mosca)
On 17 June 2022, the Group's subsidiary Logista announced the acquisition of 60% of the shares of Herinvemol S.L. Herinvemol S.L. is the parent
company of a group of companies over which it holds control, trading as \u201cTransportes El Mosca\u201d. This acquisition completed on 28 October 2022.
Transportes El Mosca offers national and international intermodal transport services by road, sea and air, as well as frozen or refrigerated
transport. The main destination markets for the international road transport activity are the United Kingdom, Germany, Portugal, France,
the Netherlands, and Italy, and its clients are mainly producers and large distribution chains in the food sector.
On 3 August 2023, Logista announced the acquisition of an additional 13.33% of equity for a consideration of 23 million (\u00a320 million),
increasing its total ownership to 73.33%.
At 30 September 2023, Logista had a purchase option for the remaining 26.67%, which was recorded at fair value as a non-current liability
for an amount of 25 million (\u00a322 million) and a current liability for an amount of 25 million (\u00a322 million), with a corresponding
adjustment taken to equity reserves.
In July 2024, Logista announced the increase of its stake to 100%, with an additional payment of 44 million (\u00a337 million). The movement,
recorded under the heading \"Remeasurement of put/call option\", amounting to 6 million (\u00a35 million) corresponds to the difference
between the payment of the purchase option and its valuation as at 30 September 2023.
Acquisition of Carb\u00f3 Collbatall\u00e9 S. L.
In April 2022, the Group's subsidiary Logista reached an agreement for the acquisition of 100% of the shares of Carb\u00f3 Collbatall\u00e9, a
company that offers transport and logistics services for refrigerated and frozen foods, which carries out its commercial activity mainly in
the Spanish market. This acquisition was completed in October 2022.
The total consideration of the shares acquired was 55 million (\u00a346 million). The valuation of the assets at fair value has been carried out
by an independent expert. This valuation includes, as intangible assets, customer relationships for 20 million (\u00a317 million) and
trademarks for 1 million (\u00a31 million).
Acquisition of Gramma Farmaceutici, S.R.L.
In July 2023, the Group\u2019s subsidiary Logista acquired 100% of the equity shares of Gramma Farmaceutici, S.R.L., a company specialised in
logistics services for the pharmaceutical industry in Italy. The total purchase price of these shares amounted to 3 million (\u00a33 million), paid in
cash at the time of purchase. As at 30 September 2023, the company had a goodwill of 1 million (\u00a31 million) in the Distribution segment.
The valuation of the assets at fair value has been carried out by an independent expert. This valuation includes, as intangible assets,
customer relationships for 2 million (\u00a32 million), property plant and equipment of 2 million (\u00a32 million), trade and other receivables of
4 million (\u00a33 million) and trade and other payables of 5 million (\u00a34 million).
", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-546": { "value": "11. ACQUISITIONS AND DISPOSALS OF SUBSIDIARIES Logista Acquisition of 3 For One SA (Belgium Parcels Service SRL) In December 2023, Logista Group reached an agreement to acquire 100% ownership of \u201c3 for one SA\u201d, the parent company of Belgium Parcels Service SRL. Belgium Parcels Service SRL is a company that offers 24-hour courier services in Belgium and Luxembourg, and 24 to 48 hours delivery in the Netherlands, France and Germany. The Belgian company specialises in the distribution of temperature sensitive products, mainly pharmaceuticals to hospitals and pharmacies. The total purchase price of these shares amounted to approximately 8 million (\u00a37 million). As of 30 September 2024, the company had a goodwill of 4 million (\u00a33 million). The valuation of the assets at fair value has been carried out by an independent expert assessing the acquired intangible assets, which include customer relationships of 2 million (\u00a32 million) and trademarks for 1 million (\u00a31 million). Cash of 2 million (\u00a32 million), property, plant and equipment of 1 million (\u00a31 million), and non- current financial liabilities of 2 million (\u00a32 million) were also acquired. Acquisition of Speedlink Worldwide Express B.V. On 16 February 2022, the Group\u2019s subsidiary Logista acquired 70% of the share capital of Speedlink Worldwide Express B.V. for a purchase consideration of 20 million (\u00a316 million) which has been paid in cash. In May 2024, the remaining 30% of the share capital was acquired for an amount of 10 million (\u00a38 million). Acquisition of Herinvemol, S.L. (Transportes El Mosca) On 17 June 2022, the Group's subsidiary Logista announced the acquisition of 60% of the shares of Herinvemol S.L. Herinvemol S.L. is the parent company of a group of companies over which it holds control, trading as \u201cTransportes El Mosca\u201d. This acquisition completed on 28 October 2022. Transportes El Mosca offers national and international intermodal transport services by road, sea and air, as well as frozen or refrigerated transport. The main destination markets for the international road transport activity are the United Kingdom, Germany, Portugal, France, the Netherlands, and Italy, and its clients are mainly producers and large distribution chains in the food sector. On 3 August 2023, Logista announced the acquisition of an additional 13.33% of equity for a consideration of 23 million (\u00a320 million), increasing its total ownership to 73.33%. At 30 September 2023, Logista had a purchase option for the remaining 26.67%, which was recorded at fair value as a non-current liability for an amount of 25 million (\u00a322 million) and a current liability for an amount of 25 million (\u00a322 million), with a corresponding adjustment taken to equity reserves. In July 2024, Logista announced the increase of its stake to 100%, with an additional payment of 44 million (\u00a337 million). The movement, recorded under the heading \"Remeasurement of put/call option\", amounting to 6 million (\u00a35 million) corresponds to the difference between the payment of the purchase option and its valuation as at 30 September 2023. Acquisition of Carb\u00f3 Collbatall\u00e9 S. L. In April 2022, the Group's subsidiary Logista reached an agreement for the acquisition of 100% of the shares of Carb\u00f3 Collbatall\u00e9, a company that offers transport and logistics services for refrigerated and frozen foods, which carries out its commercial activity mainly in the Spanish market. This acquisition was completed in October 2022. The total consideration of the shares acquired was 55 million (\u00a346 million). The valuation of the assets at fair value has been carried out by an independent expert. This valuation includes, as intangible assets, customer relationships for 20 million (\u00a317 million) and trademarks for 1 million (\u00a31 million). Acquisition of Gramma Farmaceutici, S.R.L. In July 2023, the Group\u2019s subsidiary Logista acquired 100% of the equity shares of Gramma Farmaceutici, S.R.L., a company specialised in logistics services for the pharmaceutical industry in Italy. The total purchase price of these shares amounted to 3 million (\u00a33 million), paid in cash at the time of purchase. As at 30 September 2023, the company had a goodwill of 1 million (\u00a31 million) in the Distribution segment. The valuation of the assets at fair value has been carried out by an independent expert. This valuation includes, as intangible assets, customer relationships for 2 million (\u00a32 million), property plant and equipment of 2 million (\u00a32 million), trade and other receivables of 4 million (\u00a33 million) and trade and other payables of 5 million (\u00a34 million).", "dimensions": { "concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-513": { "value": "
12. INTANGIBLE ASSETS
2024
Intellectual
property and
product Supply
\u00a3 million Goodwill development agreements
Software
Total
At 1 October 2023
13,785
13,042
1,457
630
28,914
Additions
\u2013
115
2
143
260
Acquisitions
2
1
2
\u2013
5
Disposals
\u2013
(1)
(2)
(4)
(7)
Reclassifications
29
\u2013
1
(30)
\u2013
Exchange movements
(632)
(814)
(53)
(17)
(1,516)
At 30 September 2024
13,184
12,343
1,407
722
27,656
A
mortisation and impairment
At 1 October 2023
1,556
8,650
1,389
375
11,970
Amortisation charge for the year
\u2013
354
7
38
399
Disposals
\u2013
\u2013
\u2013
(3)
(3)
Exchange movements
(56)
(525)
(50)
(17)
(648)
Accumulated amortisation
\u2013
7,940
1,346
392
9,678
Accumulated impairment
1,500
539
\u2013
1
2,040
At 30 September 2024
1,500
8,479
1,346
393
11,718
N
et book value
At 30 September 2024
11,684
3,864
61
329
15,938
C
Cost
2023
Intellectual
property and
product Supply
\u00a3 million
Goodwill
development agreements
Software
Total
At 1 October 2022
14,228
13,871
1,433
522
30,054
Additions
\u2013
136
1
119
256
Acquisitions
67
5
54
2
128
Disposals
\u2013
(115)
\u2013
(3)
(118)
Reclassifications
\u2013
(2)
\u2013
2
\u2013
Exchange movements
(510)
(853)
(31)
(12)
(1,406)
At 30 September 2023
13,785
13,042
1,457
630
28,914
A
mortisation and impairment
At 1 October 2022
1,587
8,925
1,414
351
12,277
Amortisation charge for the year
\u2013
352
6
34
392
Disposals
\u2013
(109)
\u2013
(3)
(112)
Reclassifications
\u2013
(1)
\u2013
1
\u2013
Exchange movements
(31)
(517)
(31)
(8)
(587)
Accumulated amortisation
\u2013
8,111
1,389
374
9,874
Accumulated impairment
1,556
539
\u2013
1
2,096
At 30 September 2023
1,556
8,650
1,389
375
11,970
N
et
b
ook value
At 30 September 2023
12,229
4,392
68
255
16,944
A
ssets under construction included above:
At 30 September 2024
261
At 30 September 2023
1 6 0
C
Cost
Amortisation and impairment of acquired intangibles excluded from adjusted operating profit amounted to \u00a3353 million (2023:
\u00a3347 million); this comprises amortisation on intellectual property of \u00a3346 million (2023: \u00a3341 million) and amortisation on supply
agreements of \u00a37 million (2023: \u00a36 million).
Intellectual property mainly comprises brands acquired in the USA in 2015 and through the purchases of Altadis in 2008 and
Commonwealth Brands in 2007.
Supply agreements include Distribution customer relationships acquired as part of the purchases of Altadis, Carb\u00f3 Collbatall\u00e9 S.L. and
Herinvemol S.L. (Transportes El Mosca) in prior financial years.
Intangible amortisation and impairment are included within cost of sales, distribution, advertising and selling costs, and administrative
and other expenses in the consolidated income statement.
Amortisation and impairment in respect of intangible assets other than software and internally generated intellectual property are
treated as reconciling items between reported operating profit and adjusted operating profit, except to the extent these have been treated
as restructuring costs.
During the period ending 30 September 2023, the Group purchased intellectual property relating to tobacco pouches to be marketed within
the United States. The purchase consideration was US$ 130 million (\u00a3106 million) comprising US$ 50 million (\u00a341 million) which was paid
in cash on completion, deferred consideration of US$ 31 million (\u00a325 million) paid in December 2023 and contingent consideration
estimated at US$ 49 million (\u00a340 million) payable over a five-year period up until 2028. All deferred and contingent consideration has
been discounted at a rate of 13% and a corresponding consideration liability of US$ 81 million (\u00a366 million) has been recognised. The total
initial intangible asset value recognised was US$ 130 million (\u00a3106 million). During the period additional contingent consideration of
US$ 56 million (\u00a341 million) was recognised to reflect the latest sales forecast. As at 30 September 2024, the total intangible asset value
recognised was US$ 186 million (\u00a3139 million).
Goodwill and intangible asset impairment review
The Group\u2019s Cash Generating Unit Groupings (CGUG) are used for annual goodwill impairment testing and are aligned to the Group's
operating segments, namely Europe, Americas and AAACE for the Tobacco & NGP business, and Distribution. Goodwill is allocated at a
CGUG level where components of that grouping are expected to benefit from the business combination in which the goodwill arose. The
groupings represent the lowest level at which goodwill is monitored for internal management purposes. A summary of the carrying value
of goodwill and intangible assets with indefinite lives is set out below.
2024
2023
Intangible Intangible
assets with assets with
indefinite indefinite
\u00a3 million
Goodwill
lives
Goodwill
lives
Europe
3,919
296
4,123
307
Americas
3,945
\u2013
4,147
\u2013
AAACE
2,076
156
2,181
162
Tobacco & NGP
9,940
452
10,451
469
Distribution
1,744
\u2013
1,778
\u2013
11,684
452
12,229
469
Goodwill has arisen principally on the acquisitions of Reemtsma in 2002 (all CGUG), Commonwealth Brands in 2007 (USA), Altadis in 2008
(all CGUG) and ITG Brands in 2015 (USA). Intangible assets with indefinite lives relate to the tobacco trademark, Davidoff, which was
purchased as part of the acquisition of Reemtsma in 2002.
The Group tests goodwill and intangible assets with indefinite lives for impairment annually, or more frequently if there are any
indications that impairment may have arisen. The value of a CGUG is based on value in use calculations. These calculations use cash flow
projections derived from financial plans of the business which are based on detailed bottom-up market-by-market forecasts of projected
sales volumes for each product line. These forecasts reflect, on an individual market basis, numerous assumptions and estimates
regarding anticipated changes in market size, prices and duty regimes, consumer uptrading and downtrading, consumer preferences and
other changes in product mix, based on long-term market trends, market data, anticipated regulatory developments, and management
experience and expectations. We consider that pricing, market size, market shares and cost inflation are the key assumptions used in
our plans.
Growth rates and discount rates used
The compound annual growth rates implicit in these value in use calculations are shown below.
2024
2023
Pre-tax Initial growth Long-term Pre-tax Initial growth Long-term
% discount rate rate growth rate discount rate rate growth rate
Europe
9.9
4.1
0.2
10.4
4.5
1.0
Americas
8.7
6.5
1.9
8.9
5.8
2.1
AAACE
13.3
2.0
1.9
12.5
4.3
2.2
Distribution
12.1
4.1
1.6
12.3
5.0
1.6
The calculation to determine the value in use involves a discounted future cash flow forecast model. Nominal cash flows are used in the
calculation which will themselves already factor in the effects of inflation. The cash flows are sourced from the Group business plan
which considers and factors in the risk of variability of future business performance and hence cash flow variation. A nominal discount
rate is used within the model based on the Group's weighted average cost of capital which is calculated using the Capital Asset Pricing
Model. As risk has been applied within the undiscounted cash flows no adjustment is made to the discount rate for risk, except for the
application of country risk premia over and above the Group\u2019s weighted average cost of capital where appropriate.
Country-specific discount rates are used based on the Group\u2019s weighted average cost of capital adjusted for country risk premium.
The impairment review is undertaken at a CGUG level which involves the aggregation of the individual value in use amounts for the
individual countries which constitute each CGUG. Our impairment projections are prepared under the basis set out in IAS 36 which can
differ from our internal plans.
Nominal cash flows from the business plan period are used for years one, two and three, then extrapolated out to year five using the
implicit growth rate, shown in the table above as the initial growth rate. In certain markets, the extrapolated cash flow growth rate can
exceed the long-term growth rate based on the business plan being a better reflection of the anticipated initial growth. Where there are
specific indications that the cash flow growth rates for years four and five are lower than those for the earlier years, the lower rates will be
used. Estimated long-term weighted average compound growth rates are used beyond year five.
Long-term growth rates are determined as the lower of:
\u2022 the nominal GDP growth rates for the country of operation;
\u2022 the extrapolation of the initial growth rates as estimated by management for years one to five; and
\u2022 the management long-term expectations of growth for a specific market.
Long-term growth rates are based on management\u2019s long-term expectations, taking account of industry-specific factors such as the
nature of our products, the role of excise in government fiscal policy, and relatively stable and predictable long-term macro trends in the
tobacco industry. Year-on-year variations in initial growth rates may result in consequential changes to estimated long-term rates.
Europe's long-term growth rate reduced by 0.8%. This is primarily a reflection of a reduction in the long-term growth outlook for the
UK market.
Americas was broadly in line with the prior year growth assumptions for the initial and long-term growth rate. The key change was a 0.7%
increase in the initial growth rate driven by improved expectations for product growth, particularly related to NGP.
AAACE had a 2.3% reduction in the initial growth rate primarily driven by the lower expectation for the Australia market with other
reductions related to Morocco and Kuwait.
The Distribution initial growth rate reduced by 0.9% compared to prior year reflecting the fact that significant growth has now been
delivered in the current financial year.
Goodwill and intangible asset impairment review conclusion
Our impairment testing confirms there are sufficient cash flows to support the current carrying values of the goodwill held at 30
September 2024. Any reasonable movement in the assumptions used in the impairment tests would not result in an impairment. The
complexity of the estimation process and issues related to the assumptions, risks and uncertainties inherent in the application of the
Group\u2019s accounting estimates in relation to intangible assets can affect the amounts reported in the financial statements, especially the
estimates of the expected useful economic lives and the carrying values of those assets. If business conditions significantly change it is
possible that materially different amounts could be reported in the Group\u2019s financial statements in future periods. There are uncertainties
associated with estimating the valuation of the recoverable amount.
At the present time the recoverable amount is significantly in excess of the carrying value of goodwill and other intangible assets.
However, given the uncertainties mentioned above this could change in the future.
Consideration of the impact of climate change
The Group has completed an assessment of the impact of climate change which includes how it will vary future costs and therefore cash
flows. The review has concluded that there are impacts on future cash flows as a result of climate change, with the most significant being
relating to NTM and leaf costs due to increases in the operating costs of suppliers and raw materials. We have factored the additional
costs to the Group relating to forecast climate costs into our discounted cash flow forecasts used for impairment testing valuation
purposes. The modelled impact for the Group was \u00a3504 million (2023: \u00a3338 million). This concluded that there continues to be sufficient
headroom. There is therefore no impairment recognised as result of incremental climate change costs. However, the Group will continue
to review the climate change impact going forward and any future changes in impact assessment could potentially result in changes to
the impairment assessment.
Other intangible assets
Other intangible assets are considered for impairment risk. The carrying values of brand intangibles are reviewed against expected future
cash flows of associated products. Impairment will only be recognised where there is evidence that the carrying value of the brand
cannot be recovered through those cash flows. Included within these reviews is a test to determine the recoverability of the Davidoff
indefinite life brand intangible asset. The carrying value of this asset as at 30 September 2024 was \u00a3452 million (2023: \u00a3469 million).
Recoverability of Davidoff has been measured against the net brand contribution which confirms that the carrying value of the brand will
be recovered within a two-year period. No impairments (2023: \u00a3nil) have been recognised for brand intangibles.
Intellectual property and product development intangible assets have also been reviewed to identify potential impairment triggers.
No such impairment triggers were noted in the year ended 30 September 2024 and hence no impairment charge has been incurred
(2023: \u00a3nil).
No impairment charge (2023: \u00a3nil) was incurred in the year relating to software.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-567": { "value": "12. INTANGIBLE ASSETS
2024
Intellectual
property and
product Supply
\u00a3 million Goodwill development agreements
Software
Total
At 1 October 2023
13,785
13,042
1,457
630
28,914
Additions
\u2013
115
2
143
260
Acquisitions
2
1
2
\u2013
5
Disposals
\u2013
(1)
(2)
(4)
(7)
Reclassifications
29
\u2013
1
(30)
\u2013
Exchange movements
(632)
(814)
(53)
(17)
(1,516)
At 30 September 2024
13,184
12,343
1,407
722
27,656
A
mortisation and impairment
At 1 October 2023
1,556
8,650
1,389
375
11,970
Amortisation charge for the year
\u2013
354
7
38
399
Disposals
\u2013
\u2013
\u2013
(3)
(3)
Exchange movements
(56)
(525)
(50)
(17)
(648)
Accumulated amortisation
\u2013
7,940
1,346
392
9,678
Accumulated impairment
1,500
539
\u2013
1
2,040
At 30 September 2024
1,500
8,479
1,346
393
11,718
N
et book value
At 30 September 2024
11,684
3,864
61
329
15,938
C Cost
2023
Intellectual
property and
product Supply
\u00a3 million
Goodwill
development agreements
Software
Total
At 1 October 2022
14,228
13,871
1,433
522
30,054
Additions
\u2013
136
1
119
256
Acquisitions
67
5
54
2
128
Disposals
\u2013
(115)
\u2013
(3)
(118)
Reclassifications
\u2013
(2)
\u2013
2
\u2013
Exchange movements
(510)
(853)
(31)
(12)
(1,406)
At 30 September 2023
13,785
13,042
1,457
630
28,914
A
mortisation and impairment
At 1 October 2022
1,587
8,925
1,414
351
12,277
Amortisation charge for the year
\u2013
352
6
34
392
Disposals
\u2013
(109)
\u2013
(3)
(112)
Reclassifications
\u2013
(1)
\u2013
1
\u2013
Exchange movements
(31)
(517)
(31)
(8)
(587)
Accumulated amortisation
\u2013
8,111
1,389
374
9,874
Accumulated impairment
1,556
539
\u2013
1
2,096
At 30 September 2023
1,556
8,650
1,389
375
11,970
N
et
b
ook value
At 30 September 2023
12,229
4,392
68
255
16,944
A
ssets under construction included above:
At 30 September 2024
261
At 30 September 2023
1 6 0
C Cost Amortisation and impairment of acquired intangibles excluded from adjusted operating profit amounted to \u00a3353 million (2023: \u00a3347 million); this comprises amortisation on intellectual property of \u00a3346 million (2023: \u00a3341 million) and amortisation on supply agreements of \u00a37 million (2023: \u00a36 million). Intellectual property mainly comprises brands acquired in the USA in 2015 and through the purchases of Altadis in 2008 and Commonwealth Brands in 2007. Supply agreements include Distribution customer relationships acquired as part of the purchases of Altadis, Carb\u00f3 Collbatall\u00e9 S.L. and Herinvemol S.L. (Transportes El Mosca) in prior financial years. Intangible amortisation and impairment are included within cost of sales, distribution, advertising and selling costs, and administrative and other expenses in the consolidated income statement. Amortisation and impairment in respect of intangible assets other than software and internally generated intellectual property are treated as reconciling items between reported operating profit and adjusted operating profit, except to the extent these have been treated as restructuring costs. During the period ending 30 September 2023, the Group purchased intellectual property relating to tobacco pouches to be marketed within the United States. The purchase consideration was US$ 130 million (\u00a3106 million) comprising US$ 50 million (\u00a341 million) which was paid in cash on completion, deferred consideration of US$ 31 million (\u00a325 million) paid in December 2023 and contingent consideration estimated at US$ 49 million (\u00a340 million) payable over a five-year period up until 2028. All deferred and contingent consideration has been discounted at a rate of 13% and a corresponding consideration liability of US$ 81 million (\u00a366 million) has been recognised. The total initial intangible asset value recognised was US$ 130 million (\u00a3106 million). During the period additional contingent consideration of US$ 56 million (\u00a341 million) was recognised to reflect the latest sales forecast. As at 30 September 2024, the total intangible asset value recognised was US$ 186 million (\u00a3139 million). Goodwill and intangible asset impairment review The Group\u2019s Cash Generating Unit Groupings (CGUG) are used for annual goodwill impairment testing and are aligned to the Group's operating segments, namely Europe, Americas and AAACE for the Tobacco & NGP business, and Distribution. Goodwill is allocated at a CGUG level where components of that grouping are expected to benefit from the business combination in which the goodwill arose. The groupings represent the lowest level at which goodwill is monitored for internal management purposes. A summary of the carrying value of goodwill and intangible assets with indefinite lives is set out below.
2024
2023
Intangible Intangible
assets with assets with
indefinite indefinite
\u00a3 million
Goodwill
lives
Goodwill
lives
Europe
3,919
296
4,123
307
Americas
3,945
\u2013
4,147
\u2013
AAACE
2,076
156
2,181
162
Tobacco & NGP
9,940
452
10,451
469
Distribution
1,744
\u2013
1,778
\u2013
11,684
452
12,229
469
Goodwill has arisen principally on the acquisitions of Reemtsma in 2002 (all CGUG), Commonwealth Brands in 2007 (USA), Altadis in 2008 (all CGUG) and ITG Brands in 2015 (USA). Intangible assets with indefinite lives relate to the tobacco trademark, Davidoff, which was purchased as part of the acquisition of Reemtsma in 2002. The Group tests goodwill and intangible assets with indefinite lives for impairment annually, or more frequently if there are any indications that impairment may have arisen. The value of a CGUG is based on value in use calculations. These calculations use cash flow projections derived from financial plans of the business which are based on detailed bottom-up market-by-market forecasts of projected sales volumes for each product line. These forecasts reflect, on an individual market basis, numerous assumptions and estimates regarding anticipated changes in market size, prices and duty regimes, consumer uptrading and downtrading, consumer preferences and other changes in product mix, based on long-term market trends, market data, anticipated regulatory developments, and management experience and expectations. We consider that pricing, market size, market shares and cost inflation are the key assumptions used in our plans. Growth rates and discount rates used The compound annual growth rates implicit in these value in use calculations are shown below.
2024
2023
Pre-tax Initial growth Long-term Pre-tax Initial growth Long-term
% discount rate rate growth rate discount rate rate growth rate
Europe
9.9
4.1
0.2
10.4
4.5
1.0
Americas
8.7
6.5
1.9
8.9
5.8
2.1
AAACE
13.3
2.0
1.9
12.5
4.3
2.2
Distribution
12.1
4.1
1.6
12.3
5.0
1.6
The calculation to determine the value in use involves a discounted future cash flow forecast model. Nominal cash flows are used in the calculation which will themselves already factor in the effects of inflation. The cash flows are sourced from the Group business plan which considers and factors in the risk of variability of future business performance and hence cash flow variation. A nominal discount rate is used within the model based on the Group's weighted average cost of capital which is calculated using the Capital Asset Pricing Model. As risk has been applied within the undiscounted cash flows no adjustment is made to the discount rate for risk, except for the application of country risk premia over and above the Group\u2019s weighted average cost of capital where appropriate. Country-specific discount rates are used based on the Group\u2019s weighted average cost of capital adjusted for country risk premium. The impairment review is undertaken at a CGUG level which involves the aggregation of the individual value in use amounts for the individual countries which constitute each CGUG. Our impairment projections are prepared under the basis set out in IAS 36 which can differ from our internal plans. Nominal cash flows from the business plan period are used for years one, two and three, then extrapolated out to year five using the implicit growth rate, shown in the table above as the initial growth rate. In certain markets, the extrapolated cash flow growth rate can exceed the long-term growth rate based on the business plan being a better reflection of the anticipated initial growth. Where there are specific indications that the cash flow growth rates for years four and five are lower than those for the earlier years, the lower rates will be used. Estimated long-term weighted average compound growth rates are used beyond year five. Long-term growth rates are determined as the lower of: \u2022 the nominal GDP growth rates for the country of operation; \u2022 the extrapolation of the initial growth rates as estimated by management for years one to five; and \u2022 the management long-term expectations of growth for a specific market. Long-term growth rates are based on management\u2019s long-term expectations, taking account of industry-specific factors such as the nature of our products, the role of excise in government fiscal policy, and relatively stable and predictable long-term macro trends in the tobacco industry. Year-on-year variations in initial growth rates may result in consequential changes to estimated long-term rates. Europe's long-term growth rate reduced by 0.8%. This is primarily a reflection of a reduction in the long-term growth outlook for the UK market. Americas was broadly in line with the prior year growth assumptions for the initial and long-term growth rate. The key change was a 0.7% increase in the initial growth rate driven by improved expectations for product growth, particularly related to NGP. AAACE had a 2.3% reduction in the initial growth rate primarily driven by the lower expectation for the Australia market with other reductions related to Morocco and Kuwait. The Distribution initial growth rate reduced by 0.9% compared to prior year reflecting the fact that significant growth has now been delivered in the current financial year. Goodwill and intangible asset impairment review conclusion Our impairment testing confirms there are sufficient cash flows to support the current carrying values of the goodwill held at 30 September 2024. Any reasonable movement in the assumptions used in the impairment tests would not result in an impairment. The complexity of the estimation process and issues related to the assumptions, risks and uncertainties inherent in the application of the Group\u2019s accounting estimates in relation to intangible assets can affect the amounts reported in the financial statements, especially the estimates of the expected useful economic lives and the carrying values of those assets. If business conditions significantly change it is possible that materially different amounts could be reported in the Group\u2019s financial statements in future periods. There are uncertainties associated with estimating the valuation of the recoverable amount. At the present time the recoverable amount is significantly in excess of the carrying value of goodwill and other intangible assets. However, given the uncertainties mentioned above this could change in the future. Consideration of the impact of climate change The Group has completed an assessment of the impact of climate change which includes how it will vary future costs and therefore cash flows. The review has concluded that there are impacts on future cash flows as a result of climate change, with the most significant being relating to NTM and leaf costs due to increases in the operating costs of suppliers and raw materials. We have factored the additional costs to the Group relating to forecast climate costs into our discounted cash flow forecasts used for impairment testing valuation purposes. The modelled impact for the Group was \u00a3504 million (2023: \u00a3338 million). This concluded that there continues to be sufficient headroom. There is therefore no impairment recognised as result of incremental climate change costs. However, the Group will continue to review the climate change impact going forward and any future changes in impact assessment could potentially result in changes to the impairment assessment. Other intangible assets Other intangible assets are considered for impairment risk. The carrying values of brand intangibles are reviewed against expected future cash flows of associated products. Impairment will only be recognised where there is evidence that the carrying value of the brand cannot be recovered through those cash flows. Included within these reviews is a test to determine the recoverability of the Davidoff indefinite life brand intangible asset. The carrying value of this asset as at 30 September 2024 was \u00a3452 million (2023: \u00a3469 million). Recoverability of Davidoff has been measured against the net brand contribution which confirms that the carrying value of the brand will be recovered within a two-year period. No impairments (2023: \u00a3nil) have been recognised for brand intangibles. Intellectual property and product development intangible assets have also been reviewed to identify potential impairment triggers. No such impairment triggers were noted in the year ended 30 September 2024 and hence no impairment charge has been incurred (2023: \u00a3nil). No impairment charge (2023: \u00a3nil) was incurred in the year relating to software.", "dimensions": { "concept": "ifrs-full:DisclosureOfGoodwillExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-547": { "value": "12. INTANGIBLE ASSETS
2024
Intellectual
property and
product Supply
\u00a3 million Goodwill development agreements
Software
Total
At 1 October 2023
13,785
13,042
1,457
630
28,914
Additions
\u2013
115
2
143
260
Acquisitions
2
1
2
\u2013
5
Disposals
\u2013
(1)
(2)
(4)
(7)
Reclassifications
29
\u2013
1
(30)
\u2013
Exchange movements
(632)
(814)
(53)
(17)
(1,516)
At 30 September 2024
13,184
12,343
1,407
722
27,656
A
mortisation and impairment
At 1 October 2023
1,556
8,650
1,389
375
11,970
Amortisation charge for the year
\u2013
354
7
38
399
Disposals
\u2013
\u2013
\u2013
(3)
(3)
Exchange movements
(56)
(525)
(50)
(17)
(648)
Accumulated amortisation
\u2013
7,940
1,346
392
9,678
Accumulated impairment
1,500
539
\u2013
1
2,040
At 30 September 2024
1,500
8,479
1,346
393
11,718
N
et book value
At 30 September 2024
11,684
3,864
61
329
15,938
C Cost
2023
Intellectual
property and
product Supply
\u00a3 million
Goodwill
development agreements
Software
Total
At 1 October 2022
14,228
13,871
1,433
522
30,054
Additions
\u2013
136
1
119
256
Acquisitions
67
5
54
2
128
Disposals
\u2013
(115)
\u2013
(3)
(118)
Reclassifications
\u2013
(2)
\u2013
2
\u2013
Exchange movements
(510)
(853)
(31)
(12)
(1,406)
At 30 September 2023
13,785
13,042
1,457
630
28,914
A
mortisation and impairment
At 1 October 2022
1,587
8,925
1,414
351
12,277
Amortisation charge for the year
\u2013
352
6
34
392
Disposals
\u2013
(109)
\u2013
(3)
(112)
Reclassifications
\u2013
(1)
\u2013
1
\u2013
Exchange movements
(31)
(517)
(31)
(8)
(587)
Accumulated amortisation
\u2013
8,111
1,389
374
9,874
Accumulated impairment
1,556
539
\u2013
1
2,096
At 30 September 2023
1,556
8,650
1,389
375
11,970
N
et
b
ook value
At 30 September 2023
12,229
4,392
68
255
16,944
A
ssets under construction included above:
At 30 September 2024
261
At 30 September 2023
1 6 0
C Cost Amortisation and impairment of acquired intangibles excluded from adjusted operating profit amounted to \u00a3353 million (2023: \u00a3347 million); this comprises amortisation on intellectual property of \u00a3346 million (2023: \u00a3341 million) and amortisation on supply agreements of \u00a37 million (2023: \u00a36 million). Intellectual property mainly comprises brands acquired in the USA in 2015 and through the purchases of Altadis in 2008 and Commonwealth Brands in 2007. Supply agreements include Distribution customer relationships acquired as part of the purchases of Altadis, Carb\u00f3 Collbatall\u00e9 S.L. and Herinvemol S.L. (Transportes El Mosca) in prior financial years. Intangible amortisation and impairment are included within cost of sales, distribution, advertising and selling costs, and administrative and other expenses in the consolidated income statement. Amortisation and impairment in respect of intangible assets other than software and internally generated intellectual property are treated as reconciling items between reported operating profit and adjusted operating profit, except to the extent these have been treated as restructuring costs. During the period ending 30 September 2023, the Group purchased intellectual property relating to tobacco pouches to be marketed within the United States. The purchase consideration was US$ 130 million (\u00a3106 million) comprising US$ 50 million (\u00a341 million) which was paid in cash on completion, deferred consideration of US$ 31 million (\u00a325 million) paid in December 2023 and contingent consideration estimated at US$ 49 million (\u00a340 million) payable over a five-year period up until 2028. All deferred and contingent consideration has been discounted at a rate of 13% and a corresponding consideration liability of US$ 81 million (\u00a366 million) has been recognised. The total initial intangible asset value recognised was US$ 130 million (\u00a3106 million). During the period additional contingent consideration of US$ 56 million (\u00a341 million) was recognised to reflect the latest sales forecast. As at 30 September 2024, the total intangible asset value recognised was US$ 186 million (\u00a3139 million). Goodwill and intangible asset impairment review The Group\u2019s Cash Generating Unit Groupings (CGUG) are used for annual goodwill impairment testing and are aligned to the Group's operating segments, namely Europe, Americas and AAACE for the Tobacco & NGP business, and Distribution. Goodwill is allocated at a CGUG level where components of that grouping are expected to benefit from the business combination in which the goodwill arose. The groupings represent the lowest level at which goodwill is monitored for internal management purposes. A summary of the carrying value of goodwill and intangible assets with indefinite lives is set out below.
2024
2023
Intangible Intangible
assets with assets with
indefinite indefinite
\u00a3 million
Goodwill
lives
Goodwill
lives
Europe
3,919
296
4,123
307
Americas
3,945
\u2013
4,147
\u2013
AAACE
2,076
156
2,181
162
Tobacco & NGP
9,940
452
10,451
469
Distribution
1,744
\u2013
1,778
\u2013
11,684
452
12,229
469
Goodwill has arisen principally on the acquisitions of Reemtsma in 2002 (all CGUG), Commonwealth Brands in 2007 (USA), Altadis in 2008 (all CGUG) and ITG Brands in 2015 (USA). Intangible assets with indefinite lives relate to the tobacco trademark, Davidoff, which was purchased as part of the acquisition of Reemtsma in 2002. The Group tests goodwill and intangible assets with indefinite lives for impairment annually, or more frequently if there are any indications that impairment may have arisen. The value of a CGUG is based on value in use calculations. These calculations use cash flow projections derived from financial plans of the business which are based on detailed bottom-up market-by-market forecasts of projected sales volumes for each product line. These forecasts reflect, on an individual market basis, numerous assumptions and estimates regarding anticipated changes in market size, prices and duty regimes, consumer uptrading and downtrading, consumer preferences and other changes in product mix, based on long-term market trends, market data, anticipated regulatory developments, and management experience and expectations. We consider that pricing, market size, market shares and cost inflation are the key assumptions used in our plans. Growth rates and discount rates used The compound annual growth rates implicit in these value in use calculations are shown below.
2024
2023
Pre-tax Initial growth Long-term Pre-tax Initial growth Long-term
% discount rate rate growth rate discount rate rate growth rate
Europe
9.9
4.1
0.2
10.4
4.5
1.0
Americas
8.7
6.5
1.9
8.9
5.8
2.1
AAACE
13.3
2.0
1.9
12.5
4.3
2.2
Distribution
12.1
4.1
1.6
12.3
5.0
1.6
The calculation to determine the value in use involves a discounted future cash flow forecast model. Nominal cash flows are used in the calculation which will themselves already factor in the effects of inflation. The cash flows are sourced from the Group business plan which considers and factors in the risk of variability of future business performance and hence cash flow variation. A nominal discount rate is used within the model based on the Group's weighted average cost of capital which is calculated using the Capital Asset Pricing Model. As risk has been applied within the undiscounted cash flows no adjustment is made to the discount rate for risk, except for the application of country risk premia over and above the Group\u2019s weighted average cost of capital where appropriate. Country-specific discount rates are used based on the Group\u2019s weighted average cost of capital adjusted for country risk premium. The impairment review is undertaken at a CGUG level which involves the aggregation of the individual value in use amounts for the individual countries which constitute each CGUG. Our impairment projections are prepared under the basis set out in IAS 36 which can differ from our internal plans. Nominal cash flows from the business plan period are used for years one, two and three, then extrapolated out to year five using the implicit growth rate, shown in the table above as the initial growth rate. In certain markets, the extrapolated cash flow growth rate can exceed the long-term growth rate based on the business plan being a better reflection of the anticipated initial growth. Where there are specific indications that the cash flow growth rates for years four and five are lower than those for the earlier years, the lower rates will be used. Estimated long-term weighted average compound growth rates are used beyond year five. Long-term growth rates are determined as the lower of: \u2022 the nominal GDP growth rates for the country of operation; \u2022 the extrapolation of the initial growth rates as estimated by management for years one to five; and \u2022 the management long-term expectations of growth for a specific market. Long-term growth rates are based on management\u2019s long-term expectations, taking account of industry-specific factors such as the nature of our products, the role of excise in government fiscal policy, and relatively stable and predictable long-term macro trends in the tobacco industry. Year-on-year variations in initial growth rates may result in consequential changes to estimated long-term rates. Europe's long-term growth rate reduced by 0.8%. This is primarily a reflection of a reduction in the long-term growth outlook for the UK market. Americas was broadly in line with the prior year growth assumptions for the initial and long-term growth rate. The key change was a 0.7% increase in the initial growth rate driven by improved expectations for product growth, particularly related to NGP. AAACE had a 2.3% reduction in the initial growth rate primarily driven by the lower expectation for the Australia market with other reductions related to Morocco and Kuwait. The Distribution initial growth rate reduced by 0.9% compared to prior year reflecting the fact that significant growth has now been delivered in the current financial year. Goodwill and intangible asset impairment review conclusion Our impairment testing confirms there are sufficient cash flows to support the current carrying values of the goodwill held at 30 September 2024. Any reasonable movement in the assumptions used in the impairment tests would not result in an impairment. The complexity of the estimation process and issues related to the assumptions, risks and uncertainties inherent in the application of the Group\u2019s accounting estimates in relation to intangible assets can affect the amounts reported in the financial statements, especially the estimates of the expected useful economic lives and the carrying values of those assets. If business conditions significantly change it is possible that materially different amounts could be reported in the Group\u2019s financial statements in future periods. There are uncertainties associated with estimating the valuation of the recoverable amount. At the present time the recoverable amount is significantly in excess of the carrying value of goodwill and other intangible assets. However, given the uncertainties mentioned above this could change in the future. Consideration of the impact of climate change The Group has completed an assessment of the impact of climate change which includes how it will vary future costs and therefore cash flows. The review has concluded that there are impacts on future cash flows as a result of climate change, with the most significant being relating to NTM and leaf costs due to increases in the operating costs of suppliers and raw materials. We have factored the additional costs to the Group relating to forecast climate costs into our discounted cash flow forecasts used for impairment testing valuation purposes. The modelled impact for the Group was \u00a3504 million (2023: \u00a3338 million). This concluded that there continues to be sufficient headroom. There is therefore no impairment recognised as result of incremental climate change costs. However, the Group will continue to review the climate change impact going forward and any future changes in impact assessment could potentially result in changes to the impairment assessment. Other intangible assets Other intangible assets are considered for impairment risk. The carrying values of brand intangibles are reviewed against expected future cash flows of associated products. Impairment will only be recognised where there is evidence that the carrying value of the brand cannot be recovered through those cash flows. Included within these reviews is a test to determine the recoverability of the Davidoff indefinite life brand intangible asset. The carrying value of this asset as at 30 September 2024 was \u00a3452 million (2023: \u00a3469 million). Recoverability of Davidoff has been measured against the net brand contribution which confirms that the carrying value of the brand will be recovered within a two-year period. No impairments (2023: \u00a3nil) have been recognised for brand intangibles. Intellectual property and product development intangible assets have also been reviewed to identify potential impairment triggers. No such impairment triggers were noted in the year ended 30 September 2024 and hence no impairment charge has been incurred (2023: \u00a3nil). No impairment charge (2023: \u00a3nil) was incurred in the year relating to software.", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-581": { "value": "Goodwill and intangible asset impairment review The Group\u2019s Cash Generating Unit Groupings (CGUG) are used for annual goodwill impairment testing and are aligned to the Group's operating segments, namely Europe, Americas and AAACE for the Tobacco & NGP business, and Distribution. Goodwill is allocated at a CGUG level where components of that grouping are expected to benefit from the business combination in which the goodwill arose. The groupings represent the lowest level at which goodwill is monitored for internal management purposes. A summary of the carrying value of goodwill and intangible assets with indefinite lives is set out below.
2024
2023
Intangible Intangible
assets with assets with
indefinite indefinite
\u00a3 million
Goodwill
lives
Goodwill
lives
Europe
3,919
296
4,123
307
Americas
3,945
\u2013
4,147
\u2013
AAACE
2,076
156
2,181
162
Tobacco & NGP
9,940
452
10,451
469
Distribution
1,744
\u2013
1,778
\u2013
11,684
452
12,229
469
Goodwill has arisen principally on the acquisitions of Reemtsma in 2002 (all CGUG), Commonwealth Brands in 2007 (USA), Altadis in 2008 (all CGUG) and ITG Brands in 2015 (USA). Intangible assets with indefinite lives relate to the tobacco trademark, Davidoff, which was purchased as part of the acquisition of Reemtsma in 2002. The Group tests goodwill and intangible assets with indefinite lives for impairment annually, or more frequently if there are any indications that impairment may have arisen. The value of a CGUG is based on value in use calculations. These calculations use cash flow projections derived from financial plans of the business which are based on detailed bottom-up market-by-market forecasts of projected sales volumes for each product line. These forecasts reflect, on an individual market basis, numerous assumptions and estimates regarding anticipated changes in market size, prices and duty regimes, consumer uptrading and downtrading, consumer preferences and other changes in product mix, based on long-term market trends, market data, anticipated regulatory developments, and management experience and expectations. We consider that pricing, market size, market shares and cost inflation are the key assumptions used in our plans. Goodwill and intangible asset impairment review conclusion Our impairment testing confirms there are sufficient cash flows to support the current carrying values of the goodwill held at 30 September 2024. Any reasonable movement in the assumptions used in the impairment tests would not result in an impairment. The complexity of the estimation process and issues related to the assumptions, risks and uncertainties inherent in the application of the Group\u2019s accounting estimates in relation to intangible assets can affect the amounts reported in the financial statements, especially the estimates of the expected useful economic lives and the carrying values of those assets. If business conditions significantly change it is possible that materially different amounts could be reported in the Group\u2019s financial statements in future periods. There are uncertainties associated with estimating the valuation of the recoverable amount. At the present time the recoverable amount is significantly in excess of the carrying value of goodwill and other intangible assets. However, given the uncertainties mentioned above this could change in the future. ", "dimensions": { "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-514": { "value": "
13. PROPERTY, PLANT AND EQUIPMENT
2024
Fixtures
Plant and and motor
\u00a3 million
Property
equipment vehicles Total
At 1 October 2023
756
2,065
484
3,305
Additions
10
127
41
178
Acquisitions
\u2013
1
\u2013
1
Disposals
(24)
(69)
(48)
(141)
Hyperinflation adjustment (note 1)
1
10
1
12
Reclassifications
18
(5)
(13)
\u2013
Exchange movements
(25)
(81)
(15)
(121)
At 30 September 2024
736
2,048
450
3,234
D
epreciation and impairment
At 1 October 2023
177
1,203
308
1,688
Depreciation charge for the year
16
102
36
154
Impairment
(3)
2
\u2013
(1)
Disposals
(12)
(47)
(46)
(105)
Reclassifications
\u2013
4
(4)
\u2013
Exchange movements
(10)
(42)
(11)
(63)
At 30 September 2024
168
1,222
283
1,673
N
et book value
At 30 September 2024
568
826
167
1,561
C
Cost
2023
Fixtures
Plant and and motor
\u00a3 million
Property
equipment vehicles Total
At 1 October 2022
806
2,080
455
3,341
Additions
3
130
58
191
Acquisitions
\u2013
5
9
14
Disposals
(22)
(74)
(24)
(120)
Hyperinflation adjustment (note 1)
\u2013
5
\u2013
5
Exchange movements
(31)
(81)
(14)
(126)
At 30 September 2023
756
2,065
484
3,305
D
epreciation and impairment
At 1 October 2022
181
1,200
301
1,682
Depreciation charge for the year
17
98
32
147
Impairment
\u2013
6
\u2013
6
Disposals
(11)
(60)
(15)
(86)
Exchange movements
(10)
(41)
(10)
(61)
At 30 September 2023
177
1,203
308
1,688
N
et book value
At 30 September 2023
579
862
176
1,617
A
ssets under construction included above:
At 30 September 2024
122
At 30 September 2023
107
C
Cost
", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-515": { "value": "
14. RIGHT OF USE ASSETS AND LEASE LIABILITIES
The movements in right of use assets in the year were as follows:
2024
Fixtures
Plant and and motor
\u00a3 million
Property
equipment vehicles Total
N
et book value
At 1 October 2023
256
2
68
326
Additions and modifications
82
4
69
155
Terminations
(4)
(1)
(5)
(10)
Depreciation and impairment
(57)
(3)
(35)
(95)
Exchange movements
(10)
\u2013
(4)
(14)
At 30 September 2024
267
2
93
362
The movements in lease liabilities in the year were as follows:
Lease
\u00a3 million Liabilities
At 1 October 2023
349
Cash flow
(107)
Accretion of interest
14
New leases, terminations and modifications
144
Exchange movements
(14)
At 30 September 2024
386
The maturity profile and the future minimum lease payments of the carrying amount of the Group's lease liabilities and the contractual
cash flows as at 30 September 2024 are disclosed in Note 21.
The following are the amounts recognised in the consolidated income statement:
\u00a3 million
2024
2023
Expenses relating to short-term leases
10
4
Expenses relating to low value asset leases
2
1
Depreciation and impairment expense of right of use assets
95
85
Interest on lease liabilities
14
10
The movements in right of use assets in the year ending 30 September 2023 were as follows:
2023
Fixtures
Plant and and motor
\u00a3 million Property equipment vehicles Total
N
et book
v
alue
At 1 October 2022
194
3
31
228
Additions and modifications
74
3
35
112
Acquisitions
50
\u2013
34
84
Terminations
(3)
\u2013
(2)
(5)
Depreciation
(53)
(4)
(28)
(85)
Exchange movements
(6)
\u2013
(2)
(8)
At 30 September 2023
256
2
68
326
The movements in lease liabilities in the year ending 30 September 2023 were as follows:
Lease
\u00a3 million Liabilities
At 1 October 2022
248
Cash flow
(92)
Accretion of interest
10
New leases, terminations and modifications
106
Acquisitions
84
Exchange movements
(7)
At 30 September 2023
349
The maturity profile and the future minimum lease payments of the carrying amount of the Group's lease liabilities and the contractual
cash flows as at 30 September 2023 are disclosed in Note 21.
", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-548": { "value": "14. RIGHT OF USE ASSETS AND LEASE LIABILITIES The movements in right of use assets in the year were as follows:
2024
Fixtures
Plant and and motor
\u00a3 million
Property
equipment vehicles Total
N
et book value
At 1 October 2023
256
2
68
326
Additions and modifications
82
4
69
155
Terminations
(4)
(1)
(5)
(10)
Depreciation and impairment
(57)
(3)
(35)
(95)
Exchange movements
(10)
\u2013
(4)
(14)
At 30 September 2024
267
2
93
362
The movements in lease liabilities in the year were as follows:
Lease
\u00a3 million Liabilities
At 1 October 2023
349
Cash flow
(107)
Accretion of interest
14
New leases, terminations and modifications
144
Exchange movements
(14)
At 30 September 2024
386
The maturity profile and the future minimum lease payments of the carrying amount of the Group's lease liabilities and the contractual cash flows as at 30 September 2024 are disclosed in Note 21. The following are the amounts recognised in the consolidated income statement:
\u00a3 million
2024
2023
Expenses relating to short-term leases
10
4
Expenses relating to low value asset leases
2
1
Depreciation and impairment expense of right of use assets
95
85
Interest on lease liabilities
14
10
The movements in right of use assets in the year ending 30 September 2023 were as follows:
2023
Fixtures
Plant and and motor
\u00a3 million Property equipment vehicles Total
N
et book
v
alue
At 1 October 2022
194
3
31
228
Additions and modifications
74
3
35
112
Acquisitions
50
\u2013
34
84
Terminations
(3)
\u2013
(2)
(5)
Depreciation
(53)
(4)
(28)
(85)
Exchange movements
(6)
\u2013
(2)
(8)
At 30 September 2023
256
2
68
326
The movements in lease liabilities in the year ending 30 September 2023 were as follows:
Lease
\u00a3 million Liabilities
At 1 October 2022
248
Cash flow
(92)
Accretion of interest
10
New leases, terminations and modifications
106
Acquisitions
84
Exchange movements
(7)
At 30 September 2023
349
The maturity profile and the future minimum lease payments of the carrying amount of the Group's lease liabilities and the contractual cash flows as at 30 September 2023 are disclosed in Note 21.", "dimensions": { "concept": "ifrs-full:DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-516": { "value": "
15. INVESTMENTS ACCOUNTED FOR USING THE EQUITY METHOD
The principal joint venture during the year was Global Horizon Ventures Limited. Summarised financial information for the Group's joint
ventures, which are accounted for using the equity method, is shown below:
2024
Global
Horizon
\u00a3 million
Ventures
Others
Total
Revenue
25
40
65
Profit after tax
17
3
20
Non-current assets
\u2013
8
8
Current assets
60
62
122
Total assets
60
70
130
Current liabilities
(11)
(56)
(67)
Non-current liabilities
\u2013
(13)
(13)
Total liabilities
(11)
(69)
(80)
Net assets
49
1
50
2023
Global
Horizon
\u00a3 million Ventures
Others
Total
Revenue
19
28
47
Profit after tax
13
4
17
Non-current assets
\u2013
7
7
Current assets
56
49
105
Total assets
56
56
112
Current liabilities
(7)
(41)
(48)
Non-current liabilities
\u2013
(14)
(14)
Total liabilities
(7)
(55)
(62)
Net assets
49
1
50
Transactions and balances with joint ventures
\u00a3 million
2024
2023
Purchases from
9
4
Accounts payable to
(4)
(2)
Movement on investments accounted for using the equity method
\u00a3 million
2024
2023
At 1 October
55
56
Share of profit for the year from joint ventures
9
7
Share of profit for the year from associates
1
2
Impairment of investment in associates
\u2013
(2)
Dividends
(9)
(7)
Foreign exchange losses
\u2013
(1)
At 30 September
56
55
", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-517": { "value": "16. INVENTORIES
\u00a3 million
2024
2023
Raw materials
960
1,159
Work in progress
84
81
Finished inventories
2,887
3,106
Other inventories
149
176
4,080
4,522
Other inventories mainly comprise duty-paid tax stamps. Within finished inventories of \u00a32,887 million (2023: \u00a33,106 million) there is excise duty of \u00a31,118 million (2023: \u00a31,192 million). It is generally recognised industry practice to classify leaf tobacco inventory as a current asset, although part of such inventory, because of the duration of the processing cycle, ordinarily would not be consumed within one year. We estimate that around \u00a3204 million (2023: \u00a3337 million) of leaf tobacco held within raw materials will not be utilised within a year of the balance sheet date.", "dimensions": { "concept": "ifrs-full:DisclosureOfInventoriesExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-518": { "value": "
17. TRADE AND OTHER RECEIVABLES
2024
2023
\u00a3 million
Current
Non-current
Current
Non-current
Trade receivables
2,395
1
2,211
3
Less: loss allowance
(64)
(1)
(63)
(3)
Net trade receivables
2,331
\u2013
2,148
\u2013
Other receivables
156
37
149
26
Prepayments
158
81
193
37
2,645
118
2,490
63
Trade receivables may be analysed as follows:
2024
2023
\u00a3 million
Current
Non-current
Current
Non-current
Within credit terms
2,194
\u2013
1,996
\u2013
Past due by less than 3 months
111
\u2013
121
\u2013
Past due by more than 3 months
26
\u2013
31
\u2013
Amounts that are impaired
64
1
63
3
2,395
1
2,211
3
\u00a3 million
2024
2023
At 1 October
66
79
Net decrease in provision
(1)
(13)
At 30 September
65
66
Trade receivables are reviewed by their risk profiles and loss patterns to assess credit risk. Historical and forward-looking information is
considered to determine the appropriate expected credit loss allowance. Provision levels are calculated on the residual credit risk after
consideration of any credit protection which is used by the Group. Expected credit losses (ECLs) are applied to net trade receivables which
are measured reflecting lifetime ECLs using the simplified approach.
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-589": { "value": "17. TRADE AND OTHER RECEIVABLES
2024
2023
\u00a3 million
Current
Non-current
Current
Non-current
Trade receivables
2,395
1
2,211
3
Less: loss allowance
(64)
(1)
(63)
(3)
Net trade receivables
2,331
\u2013
2,148
\u2013
Other receivables
156
37
149
26
Prepayments
158
81
193
37
2,645
118
2,490
63
Trade receivables may be analysed as follows:
2024
2023
\u00a3 million
Current
Non-current
Current
Non-current
Within credit terms
2,194
\u2013
1,996
\u2013
Past due by less than 3 months
111
\u2013
121
\u2013
Past due by more than 3 months
26
\u2013
31
\u2013
Amounts that are impaired
64
1
63
3
2,395
1
2,211
3
\u00a3 million
2024
2023
At 1 October
66
79
Net decrease in provision
(1)
(13)
At 30 September
65
66
Trade receivables are reviewed by their risk profiles and loss patterns to assess credit risk. Historical and forward-looking information is considered to determine the appropriate expected credit loss allowance. Provision levels are calculated on the residual credit risk after consideration of any credit protection which is used by the Group. Expected credit losses (ECLs) are applied to net trade receivables which are measured reflecting lifetime ECLs using the simplified approach. 23. DEFERRED TAX ASSETS AND LIABILITIES Deferred tax relates to the following:
Consolidated Consolidated Consolidated Consolidated
income income balance balance
statement statement sheet sheet
\u00a3 million 2024 2023 2024 2023
Temporary differences on depreciation and amortisation
(53)
164
(711)
(716)
Retirement benefits
(5)
(9)
48
30
Tax credits and losses
393
6
579
282
Accruals, provisions and other temporary differences
(48)
(3)
193
186
Deferred tax benefit
287
158
Net deferred tax assets/(liabilities)
109
(218)
Reflected in the consolidated balance sheet as follows
\u00a3 million
2024
2023
Deferred tax assets
889
653
Deferred tax liabilities
(780)
(871)
109
(218)
Reconciliation of net deferred tax liabilities
\u00a3 million
2024
2023
At 1 October
(218)
(522)
Credited to the income statement
287
158
Credited to other comprehensive income
36
134
Credited to equity
2
1
Acquisitions
\u2013
(15)
Exchange movements
2
22
Other movements
(16)
4
As at 30 September
109
(218)
Unrecognised deferred tax assets
Gross Net Gross Net
\u00a3 million 2024 2024 2023 2023
Tax losses
245
64
235
62
Tax credits
806
282
15
15
Other temporary differences
77
22
84
24
1,128
368
334
101
Analysis of unrecognised deferred tax assets by expiry date
Gross Net Gross Net
\u00a3 million 2024 2024 2023 2023
Tax losses expiring:
No expiry
245
64
235
62
245
64
235
62
Tax credits expiring:
Within 1 year
\u2013
\u2013
15
15
No expiry
806
282
\u2013
\u2013
806
282
15
15
Other temporary differences expiring:
No expiry
77
22
84
24
77
22
84
24
In December 2021, the OECD issued model rules for a new global minimum tax framework (Pillar Two), applicable for multinational enterprise groups with global revenue over 750 million. The legislation implementing the rules in the UK was substantively enacted on 20 June 2023 and will apply to the Group from the financial year ending 30 September 2025 onwards. The Group has applied the mandatory exception under IAS 12 in relation to the accounting for deferred tax assets and liabilities arising from the implementation of the Pillar Two model rules. Based on the assessments carried out so far, although additional tax liabilities are expected to be incurred, the Group does not expect any significant exposure to Pillar Two income taxes in those jurisdictions where the minimum tax requirement is not met, based predominantly on the data for the year ended 30 September 2023. The Group is continuing to review this legislation and monitors the status of implementation of the model rules outside of the UK to assess the potential impact. Included within net deferred tax liabilities are deferred tax assets recognised of \u00a3213 million (2023: \u00a3257 million) for tax credits arising in the Group's Spanish business. These tax credits have no time expiry. Utilisation of these tax credits is restricted to 50% of the Spanish business' taxable profits arising in any given year; those tax law restrictions extend the period over which the deferred tax assets would otherwise be recovered. The Group considers there to be forecast future taxable profits which support the recognition of these long term deferred tax assets. The period over which these deferred tax assets are utilised is sensitive to forecasting assumptions about future growth rates (which may be influenced by the future effects of climate change) and regulatory changes. Any material effects of climate change in the long term could extend the period over which the deferred tax asset will be recovered but as the tax credits do not expire, the Group considers there is positive evidence that sufficient future taxable profits would still be available. Based on a range of forecast scenarios modelling sensitivities (including the future effects of climate change) these deferred tax assets are expected to be utilised over a period of 16 years. Included within net deferred tax liabilities are deferred tax assets recognised for retirement benefits of \u00a398 million (2023: \u00a388 million) arising in the Group's German business. These deferred tax assets are expected to be recovered both by way of utilisation against the reversal of deferred tax liabilities of \u00a349 million (2023: \u00a340 million) arising in the Group's German business and by way of utilisation against future taxable profits. The Group considers there to be forecast future taxable profits which support the recognition of these long term deferred tax assets. Based on a range of forecast scenarios modelling sensitivities these deferred tax assets are expected to be recovered over a period of 20-40 years corresponding to the life of the pension scheme. The period over which these deferred tax assets are utilised is sensitive to forecasting assumptions about future growth rates of the underlying business (which may be influenced by the future effects of climate change) and regulatory changes. Included within net deferred tax liabilities are deferred tax assets recognised for intangibles of \u00a3179 million (2023: \u00a3199 million) arising in the Group's Dutch business. These deferred tax assets are expected to be recovered by way of utilisation against future taxable profits. The Group considers there to be forecast future taxable profits which support the recognition of these long term deferred tax assets. The period over which these deferred tax assets are utilised is sensitive to forecasting assumptions about future growth rates (which may be influenced by the future effects of climate change) and regulatory changes. These deferred tax assets are expected to be recovered over a period of 15 years corresponding to the life of the intangibles. Included within net deferred tax liabilities are deferred tax assets recognised of \u00a3293 million (2023: \u00a30 million) in relation to tax credits brought forward within the Group\u2019s Maltese treasury centre, recognised as a result of clarifying tax guidance issued by the tax authorities during FY24 and the resulting intention to utilise these brought forward tax credits against taxable income arising from long-term loans of a fixed term tenure, which were refinanced during the financial year. The period over which these deferred tax assets are utilised is sensitive to forecasting assumptions about future growth rates of the underlying business (which may be influenced by the future effects of climate change) and regulatory changes. The Group considers there is positive evidence that sufficient future taxable profits would still be available. Based on a range of forecast scenarios modelling sensitivities these deferred tax assets are expected to be utilised over a period of 5-10 years. Tax losses arising within the Maltese group in periods prior to the formation of tax fiscal units, are kept in abeyance and therefore unavailable for utilisation within the fiscal unit and no deferred tax asset has been recognised thereon, but amounts are included within unrecognised deferred tax. We have reviewed the recoverability of deferred tax assets in overseas territories in the light of forecast business performance. In 2024 we have recognised deferred tax assets of \u00a33 million that were previously unrecognised (2023: recognised deferred tax assets of \u00a36 million that were previously unrecognised) on the basis that it is more likely than not that these are recoverable. A deferred tax liability of \u00a346 million (2023: \u00a343 million) is recognised in respect of taxation expected to arise on the future distribution of unremitted earnings totalling \u00a32.17 billion (2023: \u00a32 billion). The temporary differences associated with investments in the Group's subsidiaries, associates and joint ventures for which a deferred tax liability has not been recognised in the periods presented, aggregate to \u00a31,472 million (2023: \u00a31,477 million) for which a deferred tax liability of \u00a337 million (2023: \u00a338 million) has not been recognised. No liability has been recognised because the Group is in a position to control the timing of the reversal of those temporary differences and it is probable that such differences will not reverse in the foreseeable future.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-568": { "value": "17. TRADE AND OTHER RECEIVABLES
2024
2023
\u00a3 million
Current
Non-current
Current
Non-current
Trade receivables
2,395
1
2,211
3
Less: loss allowance
(64)
(1)
(63)
(3)
Net trade receivables
2,331
\u2013
2,148
\u2013
Other receivables
156
37
149
26
Prepayments
158
81
193
37
2,645
118
2,490
63
Trade receivables may be analysed as follows:
2024
2023
\u00a3 million
Current
Non-current
Current
Non-current
Within credit terms
2,194
\u2013
1,996
\u2013
Past due by less than 3 months
111
\u2013
121
\u2013
Past due by more than 3 months
26
\u2013
31
\u2013
Amounts that are impaired
64
1
63
3
2,395
1
2,211
3
\u00a3 million
2024
2023
At 1 October
66
79
Net decrease in provision
(1)
(13)
At 30 September
65
66
Trade receivables are reviewed by their risk profiles and loss patterns to assess credit risk. Historical and forward-looking information is considered to determine the appropriate expected credit loss allowance. Provision levels are calculated on the residual credit risk after consideration of any credit protection which is used by the Group. Expected credit losses (ECLs) are applied to net trade receivables which are measured reflecting lifetime ECLs using the simplified approach. ", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-549": { "value": "17. TRADE AND OTHER RECEIVABLES
2024
2023
\u00a3 million
Current
Non-current
Current
Non-current
Trade receivables
2,395
1
2,211
3
Less: loss allowance
(64)
(1)
(63)
(3)
Net trade receivables
2,331
\u2013
2,148
\u2013
Other receivables
156
37
149
26
Prepayments
158
81
193
37
2,645
118
2,490
63
Trade receivables may be analysed as follows:
2024
2023
\u00a3 million
Current
Non-current
Current
Non-current
Within credit terms
2,194
\u2013
1,996
\u2013
Past due by less than 3 months
111
\u2013
121
\u2013
Past due by more than 3 months
26
\u2013
31
\u2013
Amounts that are impaired
64
1
63
3
2,395
1
2,211
3
\u00a3 million
2024
2023
At 1 October
66
79
Net decrease in provision
(1)
(13)
At 30 September
65
66
Trade receivables are reviewed by their risk profiles and loss patterns to assess credit risk. Historical and forward-looking information is considered to determine the appropriate expected credit loss allowance. Provision levels are calculated on the residual credit risk after consideration of any credit protection which is used by the Group. Expected credit losses (ECLs) are applied to net trade receivables which are measured reflecting lifetime ECLs using the simplified approach. ", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-582": { "value": "
2024
2023
\u00a3 million
Current
Non-current
Current
Non-current
Trade receivables
2,395
1
2,211
3
Less: loss allowance
(64)
(1)
(63)
(3)
Net trade receivables
2,331
\u2013
2,148
\u2013
Other receivables
156
37
149
26
Prepayments
158
81
193
37
2,645
118
2,490
63
", "dimensions": { "concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-519": { "value": "
18. CASH AND CASH EQUIVALENTS
\u00a3 million
2024
2023
Cash at bank and in hand
607
683
Short-term deposits and other liquid assets
471
662
1,078
1,345
\u00a3217 million (2023: \u00a3135 million) of total cash and cash equivalents is held in countries in which prior approval is required to transfer the
funds abroad. Nevertheless, if the Group complies with these requirements such liquid funds are at its disposition within a reasonable
period of time, which in all cases is three months or less from the date the transfer is requested.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-520": { "value": "
19. TRADE AND OTHER PAYABLES
2024
2023
\u00a3 million
Current
Non-current
Current
Non-current
Trade payables
1,499
\u2013
1,507
\u2013
Duties payable
5,156
\u2013
5,297
\u2013
Other taxes and social security contributions
1,381
\u2013
1,375
\u2013
Other payables
623
\u2013
526
\u2013
Accruals
838
86
874
27
9,497
86
9,579
27
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-551": { "value": "19. TRADE AND OTHER PAYABLES
2024
2023
\u00a3 million
Current
Non-current
Current
Non-current
Trade payables
1,499
\u2013
1,507
\u2013
Duties payable
5,156
\u2013
5,297
\u2013
Other taxes and social security contributions
1,381
\u2013
1,375
\u2013
Other payables
623
\u2013
526
\u2013
Accruals
838
86
874
27
9,497
86
9,579
27
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-583": { "value": "19. TRADE AND OTHER PAYABLES
2024
2023
\u00a3 million
Current
Non-current
Current
Non-current
Trade payables
1,499
\u2013
1,507
\u2013
Duties payable
5,156
\u2013
5,297
\u2013
Other taxes and social security contributions
1,381
\u2013
1,375
\u2013
Other payables
623
\u2013
526
\u2013
Accruals
838
86
874
27
9,497
86
9,579
27
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-592": { "value": "19. TRADE AND OTHER PAYABLES
2024
2023
\u00a3 million
Current
Non-current
Current
Non-current
Trade payables
1,499
\u2013
1,507
\u2013
Duties payable
5,156
\u2013
5,297
\u2013
Other taxes and social security contributions
1,381
\u2013
1,375
\u2013
Other payables
623
\u2013
526
\u2013
Accruals
838
86
874
27
9,497
86
9,579
27
23. DEFERRED TAX ASSETS AND LIABILITIES Deferred tax relates to the following:
Consolidated Consolidated Consolidated Consolidated
income income balance balance
statement statement sheet sheet
\u00a3 million 2024 2023 2024 2023
Temporary differences on depreciation and amortisation
(53)
164
(711)
(716)
Retirement benefits
(5)
(9)
48
30
Tax credits and losses
393
6
579
282
Accruals, provisions and other temporary differences
(48)
(3)
193
186
Deferred tax benefit
287
158
Net deferred tax assets/(liabilities)
109
(218)
Reflected in the consolidated balance sheet as follows
\u00a3 million
2024
2023
Deferred tax assets
889
653
Deferred tax liabilities
(780)
(871)
109
(218)
Reconciliation of net deferred tax liabilities
\u00a3 million
2024
2023
At 1 October
(218)
(522)
Credited to the income statement
287
158
Credited to other comprehensive income
36
134
Credited to equity
2
1
Acquisitions
\u2013
(15)
Exchange movements
2
22
Other movements
(16)
4
As at 30 September
109
(218)
Unrecognised deferred tax assets
Gross Net Gross Net
\u00a3 million 2024 2024 2023 2023
Tax losses
245
64
235
62
Tax credits
806
282
15
15
Other temporary differences
77
22
84
24
1,128
368
334
101
Analysis of unrecognised deferred tax assets by expiry date
Gross Net Gross Net
\u00a3 million 2024 2024 2023 2023
Tax losses expiring:
No expiry
245
64
235
62
245
64
235
62
Tax credits expiring:
Within 1 year
\u2013
\u2013
15
15
No expiry
806
282
\u2013
\u2013
806
282
15
15
Other temporary differences expiring:
No expiry
77
22
84
24
77
22
84
24
In December 2021, the OECD issued model rules for a new global minimum tax framework (Pillar Two), applicable for multinational enterprise groups with global revenue over 750 million. The legislation implementing the rules in the UK was substantively enacted on 20 June 2023 and will apply to the Group from the financial year ending 30 September 2025 onwards. The Group has applied the mandatory exception under IAS 12 in relation to the accounting for deferred tax assets and liabilities arising from the implementation of the Pillar Two model rules. Based on the assessments carried out so far, although additional tax liabilities are expected to be incurred, the Group does not expect any significant exposure to Pillar Two income taxes in those jurisdictions where the minimum tax requirement is not met, based predominantly on the data for the year ended 30 September 2023. The Group is continuing to review this legislation and monitors the status of implementation of the model rules outside of the UK to assess the potential impact. Included within net deferred tax liabilities are deferred tax assets recognised of \u00a3213 million (2023: \u00a3257 million) for tax credits arising in the Group's Spanish business. These tax credits have no time expiry. Utilisation of these tax credits is restricted to 50% of the Spanish business' taxable profits arising in any given year; those tax law restrictions extend the period over which the deferred tax assets would otherwise be recovered. The Group considers there to be forecast future taxable profits which support the recognition of these long term deferred tax assets. The period over which these deferred tax assets are utilised is sensitive to forecasting assumptions about future growth rates (which may be influenced by the future effects of climate change) and regulatory changes. Any material effects of climate change in the long term could extend the period over which the deferred tax asset will be recovered but as the tax credits do not expire, the Group considers there is positive evidence that sufficient future taxable profits would still be available. Based on a range of forecast scenarios modelling sensitivities (including the future effects of climate change) these deferred tax assets are expected to be utilised over a period of 16 years. Included within net deferred tax liabilities are deferred tax assets recognised for retirement benefits of \u00a398 million (2023: \u00a388 million) arising in the Group's German business. These deferred tax assets are expected to be recovered both by way of utilisation against the reversal of deferred tax liabilities of \u00a349 million (2023: \u00a340 million) arising in the Group's German business and by way of utilisation against future taxable profits. The Group considers there to be forecast future taxable profits which support the recognition of these long term deferred tax assets. Based on a range of forecast scenarios modelling sensitivities these deferred tax assets are expected to be recovered over a period of 20-40 years corresponding to the life of the pension scheme. The period over which these deferred tax assets are utilised is sensitive to forecasting assumptions about future growth rates of the underlying business (which may be influenced by the future effects of climate change) and regulatory changes. Included within net deferred tax liabilities are deferred tax assets recognised for intangibles of \u00a3179 million (2023: \u00a3199 million) arising in the Group's Dutch business. These deferred tax assets are expected to be recovered by way of utilisation against future taxable profits. The Group considers there to be forecast future taxable profits which support the recognition of these long term deferred tax assets. The period over which these deferred tax assets are utilised is sensitive to forecasting assumptions about future growth rates (which may be influenced by the future effects of climate change) and regulatory changes. These deferred tax assets are expected to be recovered over a period of 15 years corresponding to the life of the intangibles. Included within net deferred tax liabilities are deferred tax assets recognised of \u00a3293 million (2023: \u00a30 million) in relation to tax credits brought forward within the Group\u2019s Maltese treasury centre, recognised as a result of clarifying tax guidance issued by the tax authorities during FY24 and the resulting intention to utilise these brought forward tax credits against taxable income arising from long-term loans of a fixed term tenure, which were refinanced during the financial year. The period over which these deferred tax assets are utilised is sensitive to forecasting assumptions about future growth rates of the underlying business (which may be influenced by the future effects of climate change) and regulatory changes. The Group considers there is positive evidence that sufficient future taxable profits would still be available. Based on a range of forecast scenarios modelling sensitivities these deferred tax assets are expected to be utilised over a period of 5-10 years. Tax losses arising within the Maltese group in periods prior to the formation of tax fiscal units, are kept in abeyance and therefore unavailable for utilisation within the fiscal unit and no deferred tax asset has been recognised thereon, but amounts are included within unrecognised deferred tax. We have reviewed the recoverability of deferred tax assets in overseas territories in the light of forecast business performance. In 2024 we have recognised deferred tax assets of \u00a33 million that were previously unrecognised (2023: recognised deferred tax assets of \u00a36 million that were previously unrecognised) on the basis that it is more likely than not that these are recoverable. A deferred tax liability of \u00a346 million (2023: \u00a343 million) is recognised in respect of taxation expected to arise on the future distribution of unremitted earnings totalling \u00a32.17 billion (2023: \u00a32 billion). The temporary differences associated with investments in the Group's subsidiaries, associates and joint ventures for which a deferred tax liability has not been recognised in the periods presented, aggregate to \u00a31,472 million (2023: \u00a31,477 million) for which a deferred tax liability of \u00a337 million (2023: \u00a338 million) has not been recognised. No liability has been recognised because the Group is in a position to control the timing of the reversal of those temporary differences and it is probable that such differences will not reverse in the foreseeable future.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-569": { "value": "
2024
2023
\u00a3 million
Current
Non-current
Current
Non-current
Trade payables
1,499
\u2013
1,507
\u2013
Duties payable
5,156
\u2013
5,297
\u2013
Other taxes and social security contributions
1,381
\u2013
1,375
\u2013
Other payables
623
\u2013
526
\u2013
Accruals
838
86
874
27
9,497
86
9,579
27
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-521": { "value": "
20. BORROWINGS
The Group\u2019s borrowings, held at amortised cost, are as follows:
\u00a3 million
2024
2023
Current borrowings
Bank loans and overdrafts
34
49
Capital market issuance:
European commercial paper (ECP)
21
\u2013
\u00a3600m 8.125% notes due March 2024
\u2013
627
US$ 1,000m 3.125% notes due July 2024
\u2013
823
500m 1.375% notes due January 2025
421
\u2013
US$ 950m 4.25% notes due July 2025
715
\u2013
Total current borrowings
1,191
1,499
Non-current borrowings
Bank loans
\u2013
2
Capital market issuance:
500m 1.375% notes due January 2025
\u2013
437
US$ 1,500m 4.25% notes due July 2025
\u2013
1,236
650m 3.375% notes due February 2026
553
574
US$ 750m 3.5% notes due July 2026
563
617
\u00a3500m 5.5% notes due September 2026
500
500
750m 2.125% notes due February 2027
634
657
US$ 1,000m 6.125% notes due July 2027
752
822
US$ 1,000m 3.875% notes due July 2029
751
822
US$ 1,250m 5.5% notes due February 2030
944
\u2013
1,050m 5.25% notes due February 2031
898
838
\u00a3500m 4.875% notes due June 2032
505
505
1,000m 1.75% notes due March 2033
840
872
US$ 750m 5.875% notes due July 2034
566
\u2013
Total non-current borrowings
7,506
7,882
Total borrowings
8,697
9,381
Analysed as:
Capital market issuance
8,663
9,330
Bank loans and overdrafts
34
51
Current and non-current borrowings include interest payable of \u00a310 million (2023: \u00a333 million) and \u00a3102 million (2023: \u00a396 million)
respectively as at the balance sheet date.
Interest payable on capital market issuances are at fixed rates of interest and interest payable on bank loans and overdrafts are at floating
rates of interest.
On 15 March 2024, \u00a3600 million 8.125% notes were repaid. On 5 April 2024, 100 million (\u00a386 million equivalent) 5.25% notes were issued,
supplementary to the 15 February 2023 600 million, and 12 September 2023 350 million combined issues, listed as 1,050 million 5.25%
notes due February 2031 in the above table. On 1 July 2024, US$ 1,250 million (\u00a3984 million equivalent) 5.5% notes were issued. On 1 July
2024, US$ 750 million (\u00a3591 million equivalent) 5.875% notes were issued. On 11 July 2024, a partial repayment of the US$ 1,500 million
4.25% notes was made; US$ 550 million (\u00a3425 million equivalent) was repaid with the remaining US$ 950 million due July 2025.
On 26 July 2024, US$ 1,000 million (\u00a3777 million equivalent) 3.125% notes were repaid.
All borrowings are unsecured and the Group has not defaulted on any borrowings during the year (2023: no defaults).
The maturity profile of the Group's bonds and the contractual cash flows as at September 2024 are disclosed in note 21.
Fair value of borrowings
The fair value of borrowings as at 30 September 2024 is estimated to be \u00a38,567 million (2023: \u00a38,669 million). \u00a38,533 million (2023: \u00a38,617
million) relates to capital market issuance and has been determined by reference to market prices as at the balance sheet date. A
comparison of the carrying amount and fair value of capital market issuance by currency is provided below. The fair value of all other
borrowings is considered to equal their carrying amount.
2024
2023
Balance Balance
sheet sheet
\u00a3 million amount Fair value amount Fair value
GBP
1,006
985
1,632
1,524
EUR
3,367
3,245
3,378
2,996
USD
4,290
4,303
4,320
4,097
Total capital market issuance
8,663
8,533
9,330
8,617
Undrawn revolving credit facilities
At 30 September the Group had the following undrawn committed facilities:
\u00a3 million
2024
2023
Amounts maturing:
In less than one year
853
550
Between one and two years
153
159
Between two and five years
2,608
2,866
3,614
3,575
During the year the maturity of 3,125 million of the Group's syndicated multicurrency facility of 3,493 million (2023: 3,493 million) was
extended to 30 September 2027. One existing syndicate member's participation of 184 million has a maturity date of 30 September 2025.
At 30 September another syndicate member's participation of 184 million had a maturity date of 30 March 2026; in October 2024 this
participation was sold to a new financial institution, who therefore became a syndicate member, and the maturity date was extended to
30 September 2027.
During the year six new bilateral facilities for a total \u00a3700 million were arranged, all maturing in September 2025.
21. FINANCIAL RISK FACTORS
Financial risk management
Overview
In the normal course of business, the Group is exposed to financial risks including, but not limited to, market, credit and liquidity risk. This
note explains the Group's exposure to these risks, how they are measured and assessed, and summarises the policies and processes used
to manage them, including those related to the management of capital.
The Group operates a centralised treasury function which is responsible for the management of the financial risks of the Group, together
with its financing and liquidity requirements. Financial risks comprise, but are not limited to, exposures to funding and liquidity, interest
rate, foreign exchange and counterparty credit risk. The treasury function is also responsible for the financial risk management of the
Group\u2019s global defined benefit pension schemes and management of Group-wide insurance programmes. The treasury function does not
operate as a profit centre, nor does it enter into speculative transactions.
The Group's treasury activities are overseen by the Treasury Committee, which meets four times per year and comprises the Chief
Financial Officer, the Director of Treasury, the Group Finance Director, the Group General Counsel, the Chief Strategy and Development
Officer and three Group Regional Finance Directors. The Treasury Committee operates in accordance with the terms of reference set out
by the Board and a policy (the Treasury Operations Policy) which sets out the expectations and boundaries to assist in the effective
oversight of treasury activities.
The Board reviews and approves all major treasury decisions.
The Group's management of financial risks covers the following:
(A) Market risk
Price risk
The Group is not exposed to equity securities price risk other than assets held by its pension funds disclosed in note 24. The Group is
exposed to commodity price risk in that there may be fluctuations in the price of tobacco leaf. As with other agricultural commodities, the
price of tobacco leaf tends to be cyclical as supply and demand considerations influence tobacco plantings in those countries where
tobacco is grown. Also, different regions may experience variations in weather patterns that may affect crop quality or supply and so lead
to changes in price. The Group seeks to reduce this price risk by sourcing tobacco leaf from a number of different countries and
counterparties and by varying the levels of tobacco leaf held. Currently, these techniques reduce the expected exposure to this risk over
the short to medium term to levels considered not material and accordingly, no sensitivity analysis has been presented.
Foreign exchange risk
The Group is exposed to movements in foreign exchange rates due to its commercial trading transactions and profits denominated in
foreign currencies, as well as the translation of cash, borrowings and derivatives held in non-functional currencies.
The Group\u2019s financial results are principally exposed to fluctuations in euro and US dollar exchange rates. Management of the Group's
foreign exchange transaction and translation risk is addressed below.
Transaction risk
The Group\u2019s material transaction exposures arise on costs denominated in currencies other than the functional currencies of
subsidiaries, including the purchase of tobacco leaf, which is sourced from various countries but purchased principally in US dollars, and
packaging materials which are sourced from various countries and purchased in a number of currencies. The Group is also exposed to
transaction foreign exchange risk on the conversion of foreign subsidiary earnings into sterling to fund the external dividends to
shareholders. This is managed by selling euros and US dollars monthly throughout the year. Other foreign currency flows are matched
where possible and remaining foreign currency transaction exposures are not hedged.
Translation risk
The Group's currency mix of debt and related derivatives is held with consideration to the currency mix of its net assets and profits,
which are primarily euros and US dollars. The Group issues debt in the most appropriate market or markets at the time of raising new
finance and has a policy of using cross-currency swap derivative financial instruments to change the currency of debt as required.
Borrowings denominated in, or swapped into, foreign currencies to match the Group\u2019s investments in overseas subsidiaries are treated as
a hedge against the net investment where appropriate.
Foreign exchange sensitivity analysis
The Group's sensitivity to foreign exchange rate movements, which impacts the translation of monetary items held by subsidiary
companies in currencies other than their functional currencies, is illustrated on an indicative basis below. The sensitivity analysis has
been prepared on the basis that net debt and the proportion of financial instruments in foreign currencies remain constant, and that there
is no change to the net investment hedge designations in place at 30 September 2024. The sensitivity analysis does not reflect any
change to revenue or non-finance costs that may result from changing exchange rates, and ignores any taxation implications and
offsetting effects of movements in the fair value of derivative financial instruments.
2024
2023
Increase/ Increase/
(decrease) (decrease)
\u00a3 million in income in income
Income statement impact of non-functional currency foreign exchange exposures:
10% appreciation of sterling against euro (2023: 10%)
87
33
10% appreciation of sterling against US dollar (2023: 10%)
(17)
(9)
10% depreciation of sterling against euro (2023: 10%)
(106)
(41)
10% depreciation of sterling against US dollar (2023: 10%)
20
11
Movements in equity in the table below relate to intercompany loans treated as quasi-equity under IAS 21 and hedging instruments
designated as net investment hedges of the Group's euro and US dollar denominated assets.
2024
2023
Change in Change in
\u00a3 million equity equity
Equity impact of non-functional currency foreign exchange exposures:
10% appreciation of sterling against euro (2023: 10%)
928
1,035
10% appreciation of sterling against US dollar (2023: 10%)
272
205
10% depreciation of sterling against euro (2023: 10%)
(1,134)
(1,265)
10% depreciation of sterling against US dollar (2023: 10%)
(332)
(250)
At 30 September 2024, after the effect of derivative financial instruments, approximately 102% of the Group\u2019s net debt was denominated in
euro and non US dollar currencies (2023: 111%) and (2)% in US dollars (2023: (11)%).
Interest rate risk
The Group's interest rate risk arises from its borrowings net of cash and cash equivalents, with the primary exposures arising from
fluctuations in euro and US dollar interest rates. Borrowings at variable rates expose the Group to cash flow interest rate risk. Borrowings
at fixed rates expose the Group to fair value interest rate risk.
The Group manages its exposure to interest rate risk on its borrowings by entering into derivative financial instruments, interest rate
swaps, to achieve an appropriate mix of fixed and floating interest rate debt in accordance with the Treasury Operations Policy and
Treasury Committee discussions.
As at 30 September 2024, after adjusting for the effect of derivative financial instruments detailed in note 22, approximately 109% (2023:
107%) of reported net debt was at fixed rates of interest and (9)% (2023: (7)%) was at floating rates of interest. After adjusting for cash held in
subsidiary bank accounts and cash in transit, accrued interest, the mark to market of the derivative portfolio, finance leases, and the trade
receivables that were sold to a financial institution under a non-recourse factoring arrangement, approximately 97% (2023: 94%) of debt
was at fixed rates of interest and 3% (2023: 6%) was at floating rates of interest.
Interest rate sensitivity analysis
The Group's sensitivity to interest rates on its euro and US dollar monetary items, which are primarily external borrowings, cash and cash
equivalents, is illustrated on an indicative basis below. The impact in the Group's income statement reflects the effect on net finance
costs in respect of the Group's net debt and the fixed to floating rate debt ratio prevailing at 30 September 2024, ignoring any taxation
implications and offsetting effects of movements in the fair value of derivative financial instruments.
The sensitivity analysis has been prepared on the basis that net debt and the derivatives portfolio remain constant and that there is no
net impact on other comprehensive income.
2024
2023
Change in Change in
\u00a3 million income income
Income statement impact of interest rate movements:
+/- 1% increase in euro interest rates (2023: 1%)
1
12
+/- 1% increase in US dollar interest rates (2023: 1%)
(2)
(9)
(B) Credit risk
IFRS 9 requires an expected credit loss (ECL) model to be applied to financial assets. The expected credit loss model requires the Group to
account for expected losses as a result of credit risk on initial recognition of financial assets and to recognise changes in those expected
credit losses at each reporting date. Allowances are measured at an amount equal to the lifetime expected credit losses where the credit
risk on the receivables increases significantly after initial recognition. The Group is primarily exposed to credit risk arising from the
extension of credit to its customers, on cash deposits and derivatives. The maximum aggregate credit risk to these sources was
\u00a33,947 million at 30 September 2024 (2023: \u00a34,507 million).
Trade and other receivables
Policies are in place to manage the risk associated with the extension of credit to third parties to ensure that commercial intent is
balanced effectively with credit risk management. Subsidiaries have policies in place that require appropriate credit checks on customers
and credit is extended with consideration to financial risk and creditworthiness. If a customer requires credit beyond an acceptable limit,
security may be put in place to minimise the financial impact in the event of a payment default. Instruments that may typically be used
as security include non-recourse receivables factoring and bank guarantees. At 30 September 2024 the level of trade receivables that were
sold to a financial institution under a non-recourse factoring arrangement, and subsequently derecognised, totalled \u00a3570 million (2023:
\u00a3570 million). The total value of trade receivables reclassified as fair value was \u00a353 million at 30 September 2024 (2023: \u00a322 million). There
was no valuation difference between amortised cost and fair value. Analysis of trade and other receivables is provided in note 17.
Financial instruments
In order to manage its credit risk to any one counterparty, the Group places cash deposits and enters into derivative financial instruments
with a diversified group of financial institutions carrying suitable credit ratings in line with the Treasury Operations Policy. Utilisation of
counterparty credit limits is regularly monitored by treasury and ISDA agreements are in place to permit the net settlement of assets and
liabilities in certain circumstances.
The table below summarises the Group's largest exposures to financial counterparties as at 30 September 2024. At the balance sheet date
management does not expect these counterparties to default on their current obligations.
2024
2023
Maximum Maximum
exposure to exposure to
credit risk credit risk
Counterparty exposure \u00a3 million \u00a3 million
Highest
253
311
2nd highest
134
104
3rd highest
50
84
4th highest
27
83
5th highest
10
80
These exposures are held with counterparties with investment grade credit ratings or in money market funds with a AAA rating.
(C) Liquidity risk
The Group is exposed to liquidity risk, which represents the risk of having insufficient funds to meet its financing needs in any particular
location when needed. To manage this risk the Group has a policy of actively maintaining a mixture of short, medium and long-term
committed facilities that are structured to ensure that the Group has sufficient available funds to meet the forecast requirements of the
Group over the short to medium term. To prevent over-reliance on individual sources of liquidity, funding is provided across a range of
instruments including debt capital market issuance, bank term loans, bank revolving credit facilities and European commercial paper.
The Group primarily borrows centrally in order to meet forecast funding requirements, and the treasury function is in regular dialogue
with subsidiary companies to ensure their liquidity needs are met. Subsidiary companies are funded by a combination of share capital
and retained earnings, intercompany loans, and in very limited cases through external local borrowings. Cash pooling processes are used
to centralise surplus cash held by subsidiaries where possible in order to minimise external borrowing requirements and interest costs.
Treasury invests surplus cash in bank deposits and money market funds and uses foreign exchange contracts to manage short term
liquidity requirements in line with short-term cash flow forecasts. As at 30 September 2024, the Group held liquid assets of \u00a31,078 million
(2023: \u00a31,345 million).
The table below summarises the Group\u2019s non-derivative financial liabilities by maturity based on their contractual cash flows as at
30 September 2024. The amounts disclosed are undiscounted cash flows calculated using spot rates of exchange prevailing at the
relevant balance sheet date. Contractual cash flows in respect of the Group's derivative financial instruments are detailed in note 22.
2024
Contractual
Balance sheet cash flows Between 1 and Between 2 and
\u00a3 million amount
total
<1 year
2 years
5 years
> 5 years
Non-derivative financial liabilities:
Bank loans
34
34
34
\u2013
\u2013
\u2013
Capital market issuance
8,663
10,218
1,497
1,911
2,752
4,058
Trade payables
1,499
1,499
1,499
\u2013
\u2013
\u2013
Lease liabilities
386
435
96
82
144
113
Total non-derivative financial liabilities
10,582
12,186
3,126
1,993
2,896
4,171
2023
Contractual
Balance sheet cash flows Between 1 and Between 2 and
\u00a3 million amount total <1 year 2 years 5 years > 5 years
Non-derivative financial liabilities:
Bank loans
51
51
49
2
\u2013
\u2013
Capital market issuance
9,330
10,663
1,767
1,951
3,651
3,294
Trade payables
1,507
1,507
1,507
\u2013
\u2013
\u2013
Lease liabilities
349
406
82
70
114
140
Total non-derivative financial liabilities
11,237
12,627
3,405
2,023
3,765
3,434
Capital management
The Group defines capital as adjusted net debt and equity and manages its capital structure through an appropriate balance of debt and
equity in order to drive an efficient mix for the Group. Besides the minimum capitalisation rules that may apply to subsidiaries in certain
countries, the Group\u2019s only externally imposed capital requirements are interest cover and gearing covenants contained within its core
external bank debt facilities, with which the Group was fully compliant during the current and prior periods and expects to be so going
forward. Management have assessed that the likelihood of a future covenant breach is remote.
The Group continues to manage its capital structure to maintain investment grade credit ratings which it monitors by reference to a
number of key financial ratios, including ongoing consideration of the return of capital to shareholders via regular dividend payments
and share buybacks and in on-going discussions with the relevant rating agencies.
As at 30 September 2024 the Group was rated Baa3/positive outlook by Moody\u2019s Investor Service Ltd, BBB/A-2/stable outlook by Standard
and Poor\u2019s Credit Market Services Europe Limited and BBB/F2/stable outlook by Fitch Ratings Limited.
The Group regards its total capital as follows.
\u00a3 million
2024
2023
Adjusted net debt
7,740
8,026
Equity attributable to the owners of the parent
5,442
6,021
Total capital
13,182
14,047
Hedge accounting
The Group has investments in foreign operations which are consolidated in its financial statements and whose functional currencies are
euros or US dollars. Where it is practicable and cost effective to do so, the foreign exchange rate exposures arising from these investments
are hedged through the use of cross-currency swaps, foreign exchange swaps and foreign currency denominated debt.
The Group only designates the undiscounted spot element of the cross-currency swaps, foreign exchange swaps and foreign currency
debt as hedging instruments. Changes in the fair value of the cross-currency swaps and foreign exchange swaps attributable to changes
in interest rates and the effect of discounting are recognised directly in profit or loss within the \u201cNet finance costs\u201d line. These amounts
are, therefore, not included in the hedge effectiveness assessment.
Net investment gains and losses are reported in exchange movements within other comprehensive income and the hedging instrument
foreign currency gains and losses deferred to the foreign currency revaluation reserve are detailed in the statement of changes in equity.
The Group establishes the hedging ratio by matching the notional balance of the hedging instruments with an equal notional balance of
the net assets of the foreign operation. Given that only the undiscounted spot element of hedging instruments is designated in the
hedging relationship, no ineffectiveness is expected unless the notional balance of the designated hedging instruments exceeds the total
balance of the foreign operation\u2019s net assets during the reporting period. The foreign currency risk component is determined as the
change in the carrying amount of designated net assets of the foreign operation arising solely from changes in spot foreign currency
exchange rates.
All net investment hedges were fully effective at 30 September 2024.
The following table sets out the maturity profile of the hedging instruments used in the Group's net investment hedging strategies:
2024
Total Maturity
notional Between 1 and Between 2 and
\u00a3 million balance <1 year 2 years 5 years > 5 years
Bonds
(4,595)
(438)
(1,103)
(2,120)
(934)
Cross-currency swaps
(5,501)
(1,715)
(1,099)
(1,581)
(1,106)
(10,096)
(2,153)
(2,202)
(3,701)
(2,040)
\u00a3 million
2023
Total Maturity
notional Between 1 and Between 2 and
balance <1 year 2 years 5 years > 5 years
Bonds
(3,897)
\u2013
(433)
(2,645)
(819)
Cross-currency swaps
(5,986)
(1,447)
(1,214)
(1,971)
(1,354)
Foreign exchange swaps
(541)
(541)
\u2013
\u2013
\u2013
(10,424)
(1,988)
(1,647)
(4,616)
(2,173)
The following table contains details of the hedging instruments and hedged items used in the Group's net investment hedging strategies:
2024
Carrying amount Changes in fair
value used for
Notional calculating hedge
\u00a3 million balance
Assets
Liabilities
Balance sheet line item in-effectiveness
Hedging instrument:
Bonds
4,595
\u2013
4,584
Borrowings
321
Cross-currency swaps
5,501
118
76
Derivative financial instruments
213
Foreign exchange swaps
\u2013
\u2013
\u2013
Derivative financial instruments
6
Hedged item:
Investment in a foreign operation
n/a
10,096
\u2013
540
2023
Carrying amount Changes in fair
value used for
calculating hedge
\u00a3 million
Notional balance
Assets
Liabilities
Balance sheet line item in-effectiveness
Hedging instrument:
Bonds
3,897
\u2013
3,929
Borrowings
338
Cross-currency swaps
5,986
\u2013
249
Derivative financial instruments
75
Foreign exchange swaps
541
1
\u2013
Derivative financial instruments
14
Hedged item:
Investment in a foreign operation
n/a
10,424
\u2013
427
Reconciliation of changes in the value of net investment hedges:
\u00a3 million
2024
At the Other
beginning of Income comprehensive Designations/(de- At the end
the year statement income designations) of the year
Derivatives in net investment hedges of foreign
(248)
71
219
\u2013
42
operations
Bonds in net investment hedges of foreign operations
(3,929)
42
321
(1,018)
(4,584)
Total
(4,177)
113
540
(1,018)
(4,542)
2023
At the Other
beginning of Income comprehensive Designations/(de- At the end
\u00a3 million the year statement income designations) of the year
Derivatives in net investment hedges of foreign (338)
1
89
\u2013
(248)
operations
Bonds in net investment hedges of foreign operations
(5,414)
(3)
338
1,150
(3,929)
Total
(5,752)
(2)
427
1,150
(4,177)
The Group also treats certain permanent intragroup loans that meet relevant qualifying criteria under IAS 21 as part of its net investment
in foreign operations where appropriate. Intragroup loans with a notional value of 3,714 million (\u00a33,099 million equivalent) (2023: 3,714
million (\u00a33,217 million equivalent)) were treated as part of the Group\u2019s net investment in foreign operations at the balance sheet date.
Fair value estimation and hierarchy
All financial assets and liabilities are carried on the balance sheet at amortised cost, other than derivative financial instruments which
are carried at fair value. Derivative fair values are determined based on observable market data such as yield curves, foreign exchange
rates and credit default swap prices to calculate the present value of future cash flows associated with each derivative at the balance
sheet date (Level 2 classification hierarchy per IFRS 7). Market data is sourced from a reputable financial data provider and valuations are
validated by reference to counterparty valuations where appropriate. Some of the Group's derivative financial instruments contain early
termination options and these have been considered when assessing the element of the fair value related to credit risk. On this basis the
reduction in reported net derivative liabilities due to credit risk is \u00a312 million (2023: \u00a32 million) and would have been a \u00a315 million (2023:
\u00a35 million) reduction without considering the early termination options. There were no changes to the valuation methods or transfers
between hierarchies during the year. With the exception of capital market issuance, the fair value of all financial assets and financial
liabilities is considered approximate to their carrying amount.
Netting arrangements of financial instruments
The following tables set out the Group's financial assets and financial liabilities that are subject to netting and set-off arrangements.
2024
Gross Net financial Related
financial assets/ amounts not
assets/ (liabilities) per set-off in the
\u00a3 million (liabilities) balance sheet balance sheet Net
Assets
Derivative financial instruments
474
474
(462)
12
Liabilities
Derivative financial instruments
(809)
(809)
462
(347)
2023
Gross Net financial Related
financial assets/ amounts not
assets/ (liabilities) per set-off in the
\u00a3 million (liabilities) balance sheet
balance sheet
Net
Assets
Derivative financial instruments
950
950
(817)
133
Liabilities
Derivative financial instruments
(1,003)
(1,003)
817
(186)
The table below sets out the Group's accounting classification of each class of financial assets and liabilities:
2024
Fair value Fair value Assets and
through through other liabilities at
income comprehensive amortised
\u00a3 million statement income cost Total Current Non-Current
Trade and other receivables
\u2013
\u2013
2,524
2,524
2,487
37
Cash and cash equivalents
\u2013
\u2013
1,078
1,078
1,078
\u2013
Derivatives
356
118
\u2013
474
144
330
Total financial assets
356
118
3,602
4,076
3,709
367
Borrowings
\u2013
\u2013
(8,697)
(8,697)
(1,191)
(7,506)
Trade and other payables
\u2013
\u2013
(8,659)
(8,659)
(8,659)
\u2013
Derivatives
(733)
(76)
\u2013
(809)
(187)
(622)
Lease liabilities
\u2013
\u2013
(386)
(386)
(86)
(300)
Total financial liabilities
(733)
(76)
(17,742)
(18,551)
(10,123)
(8,428)
Total net financial assets/(liabilities)
(377)
42
(14,140)
(14,475)
(6,414)
(8,061)
2023
Fair value Fair value Assets and
through through other liabilities at
income comprehensive amortised
\u00a3 million statement income cost Total Current Non-current
Trade and other receivables
\u2013
\u2013
2,323
2,323
2,297
26
Cash and cash equivalents
\u2013
\u2013
1,345
1,345
1,345
\u2013
Derivatives
949
1
\u2013
950
126
824
Total financial assets
949
1
3,668
4,618
3,768
850
Borrowings
\u2013
\u2013
(9,381)
(9,381)
(1,499)
(7,882)
Trade and other payables
\u2013
\u2013
(8,705)
(8,705)
(8,705)
\u2013
Derivatives
(754)
(249)
\u2013
(1,003)
(174)
(829)
Lease liabilities
\u2013
\u2013
(349)
(349)
(81)
(268)
Total financial liabilities
(754)
(249)
(18,435)
(19,438)
(10,459)
(8,979)
Total net financial assets/(liabilities)
195
(248)
(14,767)
(14,820)
(6,691)
(8,129)
Derivatives classified as fair value through other comprehensive income relate to cross-currency swaps and foreign exchange swaps
designated as hedges of foreign currency denominated net investments. The Group only designates the undiscounted foreign exchange
spot element of these derivative instruments and the changes in fair value related to this element are posted to other comprehensive
income. Changes in the fair value of these derivative instruments attributable to changes in interest rates and the effect of discounting
are recognised in the income statement. The Group also designates certain external borrowings as hedges of foreign currency
denominated net investments and the foreign exchange revaluation of those external borrowings is recognised in other comprehensive
income. The carrying value at 30 September 2024 of those external borrowings included in the above table is \u00a34,639 million (2023: \u00a33,929
million). All of the Group's net investment hedges remain effective.
22. DERIVATIVE FINANCIAL INSTRUMENTS
The Group\u2019s derivative financial instruments held at fair value, are as follows.
2024
2023
\u00a3 million
Assets
Liabilities
Net fair value
Assets
Liabilities
Net fair value
Current derivative financial instruments:
Interest rate swaps
65
(54)
11
30
(66)
(36)
Foreign exchange contracts
1
(4)
(3)
12
(5)
7
Cross-currency swaps
78
(129)
(51)
84
(103)
(19)
Total current derivatives
144
(187)
(43)
126
(174)
(48)
Non-current derivative financial instruments:
Interest rate swaps
240
(365)
(125)
745
(652)
93
Cross-currency swaps
90
(257)
(167)
79
(177)
(98)
Total non-current derivatives
330
(622)
(292)
824
(829)
(5)
Total carrying value of derivative financial
instruments
474
(809)
(335)
950
(1,003)
(53)
Analysed as:
Interest rate swaps
305
(419)
(114)
775
(718)
57
Foreign exchange contracts
1
(4)
(3)
12
(5)
7
Cross-currency swaps
168
(386)
(218)
163
(280)
(117)
Total carrying value of derivative financial
instruments
474
(809)
(335)
950
(1,003)
(53)
The classification of these derivative assets and liabilities under the IFRS 7 fair value hierarchy is provided in note 21.
Maturity of obligations under derivative financial instruments
Derivative financial instruments have been classified in the balance sheet as current or non-current on an undiscounted contractual
basis based on spot rates as at the balance sheet date. For the purposes of the above and following analysis, maturity dates have been
based on the likelihood of any early termination options being exercised with consideration to counterparty expectations and market
conditions prevailing as at 30 September 2024.
The table below summarises the Group's derivative financial instruments by maturity based on their remaining contractual cash flows as
at 30 September 2024. The amounts disclosed are the undiscounted cash flows calculated using interest rates and spot rates of exchange
prevailing at the relevant balance sheet date. Contractual cash flows in respect of the Group's non-derivative financial instruments are
detailed in note 21.
2024
Contractual
Balance sheet cash flows Between 1 and Between 2 and
\u00a3 million amount total <1 year 2 years 5 years >5 years
Net settled derivatives
(114)
194
10
1
117
66
Gross settled derivatives
(221)
\u2013
\u2013
\u2013
\u2013
\u2013
\u2022
receipts
\u2013
20,719
6,490
2,730
5,762
5,737
\u2022
payments
\u2013
(20,770)
(6,497)
(2,719)
(5,772)
(5,782)
(335)
143
3
12
107
21
2023
Contractual
Balance sheet cash flows Between 1 and Between 2 and
\u00a3 million amount total <1 year 2 years 5 years >5 years
Net settled derivatives
57
200
(3)
34
143
26
Gross settled derivatives
(110)
\u2013
\u2013
\u2013
\u2013
\u2013
\u2022
receipts
\u2013
17,822
5,429
4,010
5,283
3,100
\u2022
payments
\u2013
(17,675)
(5,374)
(3,941)
(5,247)
(3,113)
(53)
347
52
103
179
13
Derivatives as hedging instruments
As outlined in note 21, the Group hedges its underlying interest rate exposure and foreign currency translation exposures in an efficient,
commercial and structured manner, primarily using interest rate swaps and cross-currency swaps. Foreign exchange contracts are used
to manage the Group\u2019s short term liquidity requirements in line with short term cash flow forecasts as appropriate.
The Group does not apply cash flow or fair value hedge accounting, as permitted under IFRS 9, which results in fair value gains and losses
attributable to derivative financial instruments being recognised in net finance costs unless they are designated as hedges of a net
investment in foreign operations, in which case they are recognised in other comprehensive income.
Interest rate swaps
To manage interest rate risk on its borrowings, the Group issues debt in the market or markets that are most appropriate at the time of
raising new finance with regard to currency, interest denomination or duration, and then uses interest rate swaps to re-base the debt into
the appropriate proportions of fixed and floating interest rates. Interest rate swaps are also transacted to manage and re-profile the
Group's interest rate risk over the short, medium and long term in accordance with the Treasury Operations Policy as approved by the
Treasury Committee. Fair value movements are recognised in net finance costs in the relevant reporting period.
As at 30 September 2024, the notional amount of interest rate swaps outstanding that were entered into to convert fixed rate borrowings
into floating rates of interest at the time of raising new finance was \u00a36,349 million equivalent (2023: \u00a38,111 million equivalent) with a fair
value of \u00a3339 million liability (2023: \u00a3714 million liability). The fixed interest rates vary from 1.3% to 5.4% (2023: 1.3% to 7.9%), and the
floating rates are based on EURIBOR, SONIA and SOFR.
As at 30 September 2024, the notional amount of interest rate swaps outstanding that were entered into to convert the Group's debt into
the appropriate proportion of fixed and floating rates to manage and re-profile the Group's interest rate risk was \u00a312,119 million equivalent
(2023: \u00a311,622 million equivalent) with a fair value of \u00a3225 million asset (2023: \u00a3771 million asset). The fixed interest rates vary from 3.1%
receivable to 4.0% payable (2023: 3.1% receivable to 4.0% payable), and the floating receivable rates reference EURIBOR and SOFR. This
includes forward starting interest rate swaps with a total notional amount of \u00a34,719 million equivalent (2023: \u00a34,055 million equivalent)
with tenors between 1 and 10 years, starting between October 2024 and May 2032.
Cross-currency swaps
The Group enters into cross-currency swaps to convert the currency of debt into the appropriate currency with consideration to the
underlying assets of the Group as appropriate. Fair value movements are recognised in net finance costs in the relevant reporting period
unless the swaps are designated as hedges of a net investment in foreign operations, in which case the fair value movement attributable
to changes in foreign exchange rates are recognised in other comprehensive income.
As at 30 September 2024, the notional amount of cross-currency swaps entered into to convert sterling debt into the desired currency
was \u00a31,000 million (2023: \u00a31,600 million) and the fair value of these swaps was \u00a376 million net liability (2023: \u00a3111 million net liability); the
notional amount of cross-currency swaps entered into to convert US dollar debt into the desired currency was US$ 6,950 million
(2023: US$ 5,250 million) and the fair value of these swaps was \u00a3142 million net liability (2023: \u00a36 million net liability). This includes
forward starting cross-currency swaps with a total notional amount of US$ 1,250 million equivalent (2023: no forward starting cross-
currency swaps) with tenors of 4.5 years, starting in July 2025.
Foreign exchange contracts
The Group enters into foreign exchange contracts to manage short-term liquidity requirements in line with cash flow forecasts. As at 30
September 2024, the notional amount of these contracts was \u00a3842 million equivalent (2023: \u00a32,020 million equivalent) and the fair value of
these contracts was a net liability of \u00a33 million (2023: \u00a37 million net asset).
Hedges of net investments in foreign operations
As at 30 September 2024, cross-currency swaps with a notional amount of 6,593 million (2023: 6,910 million) were designated as hedges
of net investments in foreign operations. During the year, foreign exchange translation gains amounting to \u00a3213 million (2023: \u00a375 million
gains) were recognised within exchange movements in other comprehensive income in respect of cross-currency swaps designated as
hedges of a net investment in foreign operations. No hedging ineffectiveness occurred during the year (2023: \u00a3nil).
As at 30 September 2024, foreign exchange swaps with a notional amount of nil (2023: 624 million) were designated as hedges of net
investments in foreign operations. During the year, foreign exchange translation gains amounting to \u00a36 million (2023: \u00a314 million gains)
were recognised within exchange movements in other comprehensive income in respect of foreign exchange swaps that had been
designated as hedges of a net investment in foreign operations. No hedging ineffectiveness occurred during the year (2023: \u00a3nil).
The movements in other comprehensive income due to net investment hedging in the period were as follows:
\u00a3 million
2024
2023
Foreign exchange gains on borrowings
321
338
Foreign exchange gains on derivative financial instruments
219
89
540
427
31. NET DEBT
The movements in cash and cash equivalents, borrowings, and derivative financial instruments in the year were as follows:
Derivative Liabilities Cash
Current Lease Non-current financial from financing and cash
\u00a3 million borrowings liabilities borrowings instruments activities equivalents Total
At 1 October 2023
(1,499)
(349)
(7,882)
(53)
(9,783)
1,345
(8,438)
Reallocation of current borrowings from non-
current borrowings
(1,673)
\u2013
1,673
\u2013
\u2013
\u2013
\u2013
Cash flow
1,760
107
(1,660)
34
241
(203)
38
Change in accrued interest
37
(14)
(21)
12
14
\u2013
14
Change in fair values
\u2013
\u2013
\u2013
(119)
(119)
\u2013
(119)
New leases, terminations and modifications
\u2013
(144)
\u2013
\u2013
(144)
\u2013
(144)
Exchange movements
184
14
384
(209)
373
(64)
309
At 30 September 2024
(1,191)
(386)
(7,506)
(335)
(9,418)
1,078
(8,340)
Derivative Liabilities Cash
Current Lease Non-current financial from financing and cash
\u00a3 million borrowings liabilities borrowings instruments activities equivalents Total
At 1 October 2022
(1,011)
(248)
(8,996)
(87)
(10,342)
1,850
(8,492)
Reallocation of current borrowings from non-
current borrowings
(1,536)
\u2013
1,536
\u2013
\u2013
\u2013
\u2013
Cash flow
891
92
(835)
64
212
(349)
(137)
Change in accrued interest
2
(10)
(24)
1
(31)
\u2013
(31)
Change in fair values
\u2013
\u2013
\u2013
139
139
\u2013
139
New leases, terminations and modifications
\u2013
(106)
\u2013
\u2013
(106)
\u2013
(106)
Acquisitions
\u2013
(84)
\u2013
\u2013
(84)
\u2013
(84)
Exchange movements
155
7
437
(170)
429
(156)
273
At 30 September 2023
(1,499)
(349)
(7,882)
(53)
(9,783)
1,345
(8,438)
Average reported net debt during the year was \u00a310,037 million (2023: \u00a310,072 million).
Analysis by denomination currency
2024
\u00a3 million
GBP
EUR
USD
Other
Total
Cash and cash equivalents
356
179
129
414
1,078
Total borrowings
(1,014)
(3,383)
(4,291)
(9)
(8,697)
(658)
(3,204)
(4,162)
405
(7,619)
Effect of cross-currency swaps
1,022
(5,532)
4,292
\u2013
(218)
364
(8,736)
130
405
(7,837)
Lease liabilities
(39)
(265)
(47)
(35)
(386)
Derivative financial instruments
(117)
Net debt
(8,340)
2023
\u00a3 million
GBP
EUR
USD
Other
Total
Cash and cash equivalents
177
405
324
439
1,345
Total borrowings
(1,631)
(3,417)
(4,319)
(14)
(9,381)
(1,454)
(3,012)
(3,995)
425
(8,036)
Effect of cross-currency swaps
1,576
(6,016)
4,323
\u2013
(117)
122
(9,028)
328
425
(8,153)
Lease liabilities
(43)
(247)
(26)
(33)
(349)
Derivative financial instruments
64
Net debt
(8,438)
32. RECONCILIATION OF CASH FLOW TO MOVEMENT IN NET DEBT
\u00a3 million
2024
2023
Decrease in cash and cash equivalents
(203)
(349)
Cash flows relating to derivative financial instruments
34
64
Repayment of lease liabilities
107
92
Increase in borrowings
(3,848)
(1,462)
Repayment of borrowings
3,948
1,518
Change in net debt resulting from cash flows
38
(137)
Other non-cash movements including revaluation of derivative financial instruments
(105)
108
Lease liabilities
(144)
(190)
Exchange movements
309
273
Movement in net debt during the year
98
54
Opening net debt
(8,438)
(8,492)
Closing net debt
(8,340)
(8,438)
The increase in borrowings and repayment of borrowings reflect the cash flow movements relating to borrowings outstanding at the start
and at the end of each financial year; cash flows relating to short-term borrowings drawn down and repaid within the year are not
included in this analysis.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-550": { "value": "20. BORROWINGS The Group\u2019s borrowings, held at amortised cost, are as follows:
\u00a3 million
2024
2023
Current borrowings
Bank loans and overdrafts
34
49
Capital market issuance:
European commercial paper (ECP)
21
\u2013
\u00a3600m 8.125% notes due March 2024
\u2013
627
US$ 1,000m 3.125% notes due July 2024
\u2013
823
500m 1.375% notes due January 2025
421
\u2013
US$ 950m 4.25% notes due July 2025
715
\u2013
Total current borrowings
1,191
1,499
Non-current borrowings
Bank loans
\u2013
2
Capital market issuance:
500m 1.375% notes due January 2025
\u2013
437
US$ 1,500m 4.25% notes due July 2025
\u2013
1,236
650m 3.375% notes due February 2026
553
574
US$ 750m 3.5% notes due July 2026
563
617
\u00a3500m 5.5% notes due September 2026
500
500
750m 2.125% notes due February 2027
634
657
US$ 1,000m 6.125% notes due July 2027
752
822
US$ 1,000m 3.875% notes due July 2029
751
822
US$ 1,250m 5.5% notes due February 2030
944
\u2013
1,050m 5.25% notes due February 2031
898
838
\u00a3500m 4.875% notes due June 2032
505
505
1,000m 1.75% notes due March 2033
840
872
US$ 750m 5.875% notes due July 2034
566
\u2013
Total non-current borrowings
7,506
7,882
Total borrowings
8,697
9,381
Analysed as:
Capital market issuance
8,663
9,330
Bank loans and overdrafts
34
51
Current and non-current borrowings include interest payable of \u00a310 million (2023: \u00a333 million) and \u00a3102 million (2023: \u00a396 million) respectively as at the balance sheet date. Interest payable on capital market issuances are at fixed rates of interest and interest payable on bank loans and overdrafts are at floating rates of interest. On 15 March 2024, \u00a3600 million 8.125% notes were repaid. On 5 April 2024, 100 million (\u00a386 million equivalent) 5.25% notes were issued, supplementary to the 15 February 2023 600 million, and 12 September 2023 350 million combined issues, listed as 1,050 million 5.25% notes due February 2031 in the above table. On 1 July 2024, US$ 1,250 million (\u00a3984 million equivalent) 5.5% notes were issued. On 1 July 2024, US$ 750 million (\u00a3591 million equivalent) 5.875% notes were issued. On 11 July 2024, a partial repayment of the US$ 1,500 million 4.25% notes was made; US$ 550 million (\u00a3425 million equivalent) was repaid with the remaining US$ 950 million due July 2025. On 26 July 2024, US$ 1,000 million (\u00a3777 million equivalent) 3.125% notes were repaid. All borrowings are unsecured and the Group has not defaulted on any borrowings during the year (2023: no defaults). The maturity profile of the Group's bonds and the contractual cash flows as at September 2024 are disclosed in note 21. Fair value of borrowings The fair value of borrowings as at 30 September 2024 is estimated to be \u00a38,567 million (2023: \u00a38,669 million). \u00a38,533 million (2023: \u00a38,617 million) relates to capital market issuance and has been determined by reference to market prices as at the balance sheet date. A comparison of the carrying amount and fair value of capital market issuance by currency is provided below. The fair value of all other borrowings is considered to equal their carrying amount.
2024
2023
Balance Balance
sheet sheet
\u00a3 million amount Fair value amount Fair value
GBP
1,006
985
1,632
1,524
EUR
3,367
3,245
3,378
2,996
USD
4,290
4,303
4,320
4,097
Total capital market issuance
8,663
8,533
9,330
8,617
Undrawn revolving credit facilities At 30 September the Group had the following undrawn committed facilities:
\u00a3 million
2024
2023
Amounts maturing:
In less than one year
853
550
Between one and two years
153
159
Between two and five years
2,608
2,866
3,614
3,575
During the year the maturity of 3,125 million of the Group's syndicated multicurrency facility of 3,493 million (2023: 3,493 million) was extended to 30 September 2027. One existing syndicate member's participation of 184 million has a maturity date of 30 September 2025. At 30 September another syndicate member's participation of 184 million had a maturity date of 30 March 2026; in October 2024 this participation was sold to a new financial institution, who therefore became a syndicate member, and the maturity date was extended to 30 September 2027. During the year six new bilateral facilities for a total \u00a3700 million were arranged, all maturing in September 2025. 32. RECONCILIATION OF CASH FLOW TO MOVEMENT IN NET DEBT
\u00a3 million
2024
2023
Decrease in cash and cash equivalents
(203)
(349)
Cash flows relating to derivative financial instruments
34
64
Repayment of lease liabilities
107
92
Increase in borrowings
(3,848)
(1,462)
Repayment of borrowings
3,948
1,518
Change in net debt resulting from cash flows
38
(137)
Other non-cash movements including revaluation of derivative financial instruments
(105)
108
Lease liabilities
(144)
(190)
Exchange movements
309
273
Movement in net debt during the year
98
54
Opening net debt
(8,438)
(8,492)
Closing net debt
(8,340)
(8,438)
The increase in borrowings and repayment of borrowings reflect the cash flow movements relating to borrowings outstanding at the start and at the end of each financial year; cash flows relating to short-term borrowings drawn down and repaid within the year are not included in this analysis.", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-570": { "value": "Fair value of borrowings The fair value of borrowings as at 30 September 2024 is estimated to be \u00a38,567 million (2023: \u00a38,669 million). \u00a38,533 million (2023: \u00a38,617 million) relates to capital market issuance and has been determined by reference to market prices as at the balance sheet date. A comparison of the carrying amount and fair value of capital market issuance by currency is provided below. The fair value of all other borrowings is considered to equal their carrying amount.
2024
2023
Balance Balance
sheet sheet
\u00a3 million amount Fair value amount Fair value
GBP
1,006
985
1,632
1,524
EUR
3,367
3,245
3,378
2,996
USD
4,290
4,303
4,320
4,097
Total capital market issuance
8,663
8,533
9,330
8,617
Fair value estimation and hierarchy All financial assets and liabilities are carried on the balance sheet at amortised cost, other than derivative financial instruments which are carried at fair value. Derivative fair values are determined based on observable market data such as yield curves, foreign exchange rates and credit default swap prices to calculate the present value of future cash flows associated with each derivative at the balance sheet date (Level 2 classification hierarchy per IFRS 7). Market data is sourced from a reputable financial data provider and valuations are validated by reference to counterparty valuations where appropriate. Some of the Group's derivative financial instruments contain early termination options and these have been considered when assessing the element of the fair value related to credit risk. On this basis the reduction in reported net derivative liabilities due to credit risk is \u00a312 million (2023: \u00a32 million) and would have been a \u00a315 million (2023: \u00a35 million) reduction without considering the early termination options. There were no changes to the valuation methods or transfers between hierarchies during the year. With the exception of capital market issuance, the fair value of all financial assets and financial liabilities is considered approximate to their carrying amount. ", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-552": { "value": "21. FINANCIAL RISK FACTORS Financial risk management Overview In the normal course of business, the Group is exposed to financial risks including, but not limited to, market, credit and liquidity risk. This note explains the Group's exposure to these risks, how they are measured and assessed, and summarises the policies and processes used to manage them, including those related to the management of capital. The Group operates a centralised treasury function which is responsible for the management of the financial risks of the Group, together with its financing and liquidity requirements. Financial risks comprise, but are not limited to, exposures to funding and liquidity, interest rate, foreign exchange and counterparty credit risk. The treasury function is also responsible for the financial risk management of the Group\u2019s global defined benefit pension schemes and management of Group-wide insurance programmes. The treasury function does not operate as a profit centre, nor does it enter into speculative transactions. The Group's treasury activities are overseen by the Treasury Committee, which meets four times per year and comprises the Chief Financial Officer, the Director of Treasury, the Group Finance Director, the Group General Counsel, the Chief Strategy and Development Officer and three Group Regional Finance Directors. The Treasury Committee operates in accordance with the terms of reference set out by the Board and a policy (the Treasury Operations Policy) which sets out the expectations and boundaries to assist in the effective oversight of treasury activities. The Board reviews and approves all major treasury decisions. The Group's management of financial risks covers the following: (A) Market risk Price risk The Group is not exposed to equity securities price risk other than assets held by its pension funds disclosed in note 24. The Group is exposed to commodity price risk in that there may be fluctuations in the price of tobacco leaf. As with other agricultural commodities, the price of tobacco leaf tends to be cyclical as supply and demand considerations influence tobacco plantings in those countries where tobacco is grown. Also, different regions may experience variations in weather patterns that may affect crop quality or supply and so lead to changes in price. The Group seeks to reduce this price risk by sourcing tobacco leaf from a number of different countries and counterparties and by varying the levels of tobacco leaf held. Currently, these techniques reduce the expected exposure to this risk over the short to medium term to levels considered not material and accordingly, no sensitivity analysis has been presented. Foreign exchange risk The Group is exposed to movements in foreign exchange rates due to its commercial trading transactions and profits denominated in foreign currencies, as well as the translation of cash, borrowings and derivatives held in non-functional currencies. The Group\u2019s financial results are principally exposed to fluctuations in euro and US dollar exchange rates. Management of the Group's foreign exchange transaction and translation risk is addressed below. Transaction risk The Group\u2019s material transaction exposures arise on costs denominated in currencies other than the functional currencies of subsidiaries, including the purchase of tobacco leaf, which is sourced from various countries but purchased principally in US dollars, and packaging materials which are sourced from various countries and purchased in a number of currencies. The Group is also exposed to transaction foreign exchange risk on the conversion of foreign subsidiary earnings into sterling to fund the external dividends to shareholders. This is managed by selling euros and US dollars monthly throughout the year. Other foreign currency flows are matched where possible and remaining foreign currency transaction exposures are not hedged. Translation risk The Group's currency mix of debt and related derivatives is held with consideration to the currency mix of its net assets and profits, which are primarily euros and US dollars. The Group issues debt in the most appropriate market or markets at the time of raising new finance and has a policy of using cross-currency swap derivative financial instruments to change the currency of debt as required. Borrowings denominated in, or swapped into, foreign currencies to match the Group\u2019s investments in overseas subsidiaries are treated as a hedge against the net investment where appropriate. Foreign exchange sensitivity analysis The Group's sensitivity to foreign exchange rate movements, which impacts the translation of monetary items held by subsidiary companies in currencies other than their functional currencies, is illustrated on an indicative basis below. The sensitivity analysis has been prepared on the basis that net debt and the proportion of financial instruments in foreign currencies remain constant, and that there is no change to the net investment hedge designations in place at 30 September 2024. The sensitivity analysis does not reflect any change to revenue or non-finance costs that may result from changing exchange rates, and ignores any taxation implications and offsetting effects of movements in the fair value of derivative financial instruments.
2024
2023
Increase/ Increase/
(decrease) (decrease)
\u00a3 million in income in income
Income statement impact of non-functional currency foreign exchange exposures:
10% appreciation of sterling against euro (2023: 10%)
87
33
10% appreciation of sterling against US dollar (2023: 10%)
(17)
(9)
10% depreciation of sterling against euro (2023: 10%)
(106)
(41)
10% depreciation of sterling against US dollar (2023: 10%)
20
11
Movements in equity in the table below relate to intercompany loans treated as quasi-equity under IAS 21 and hedging instruments designated as net investment hedges of the Group's euro and US dollar denominated assets.
2024
2023
Change in Change in
\u00a3 million equity equity
Equity impact of non-functional currency foreign exchange exposures:
10% appreciation of sterling against euro (2023: 10%)
928
1,035
10% appreciation of sterling against US dollar (2023: 10%)
272
205
10% depreciation of sterling against euro (2023: 10%)
(1,134)
(1,265)
10% depreciation of sterling against US dollar (2023: 10%)
(332)
(250)
At 30 September 2024, after the effect of derivative financial instruments, approximately 102% of the Group\u2019s net debt was denominated in euro and non US dollar currencies (2023: 111%) and (2)% in US dollars (2023: (11)%). Interest rate risk The Group's interest rate risk arises from its borrowings net of cash and cash equivalents, with the primary exposures arising from fluctuations in euro and US dollar interest rates. Borrowings at variable rates expose the Group to cash flow interest rate risk. Borrowings at fixed rates expose the Group to fair value interest rate risk. The Group manages its exposure to interest rate risk on its borrowings by entering into derivative financial instruments, interest rate swaps, to achieve an appropriate mix of fixed and floating interest rate debt in accordance with the Treasury Operations Policy and Treasury Committee discussions. As at 30 September 2024, after adjusting for the effect of derivative financial instruments detailed in note 22, approximately 109% (2023: 107%) of reported net debt was at fixed rates of interest and (9)% (2023: (7)%) was at floating rates of interest. After adjusting for cash held in subsidiary bank accounts and cash in transit, accrued interest, the mark to market of the derivative portfolio, finance leases, and the trade receivables that were sold to a financial institution under a non-recourse factoring arrangement, approximately 97% (2023: 94%) of debt was at fixed rates of interest and 3% (2023: 6%) was at floating rates of interest. Interest rate sensitivity analysis The Group's sensitivity to interest rates on its euro and US dollar monetary items, which are primarily external borrowings, cash and cash equivalents, is illustrated on an indicative basis below. The impact in the Group's income statement reflects the effect on net finance costs in respect of the Group's net debt and the fixed to floating rate debt ratio prevailing at 30 September 2024, ignoring any taxation implications and offsetting effects of movements in the fair value of derivative financial instruments. The sensitivity analysis has been prepared on the basis that net debt and the derivatives portfolio remain constant and that there is no net impact on other comprehensive income.
2024
2023
Change in Change in
\u00a3 million income income
Income statement impact of interest rate movements:
+/- 1% increase in euro interest rates (2023: 1%)
1
12
+/- 1% increase in US dollar interest rates (2023: 1%)
(2)
(9)
(B) Credit risk IFRS 9 requires an expected credit loss (ECL) model to be applied to financial assets. The expected credit loss model requires the Group to account for expected losses as a result of credit risk on initial recognition of financial assets and to recognise changes in those expected credit losses at each reporting date. Allowances are measured at an amount equal to the lifetime expected credit losses where the credit risk on the receivables increases significantly after initial recognition. The Group is primarily exposed to credit risk arising from the extension of credit to its customers, on cash deposits and derivatives. The maximum aggregate credit risk to these sources was \u00a33,947 million at 30 September 2024 (2023: \u00a34,507 million). Trade and other receivables Policies are in place to manage the risk associated with the extension of credit to third parties to ensure that commercial intent is balanced effectively with credit risk management. Subsidiaries have policies in place that require appropriate credit checks on customers and credit is extended with consideration to financial risk and creditworthiness. If a customer requires credit beyond an acceptable limit, security may be put in place to minimise the financial impact in the event of a payment default. Instruments that may typically be used as security include non-recourse receivables factoring and bank guarantees. At 30 September 2024 the level of trade receivables that were sold to a financial institution under a non-recourse factoring arrangement, and subsequently derecognised, totalled \u00a3570 million (2023: \u00a3570 million). The total value of trade receivables reclassified as fair value was \u00a353 million at 30 September 2024 (2023: \u00a322 million). There was no valuation difference between amortised cost and fair value. Analysis of trade and other receivables is provided in note 17. Financial instruments In order to manage its credit risk to any one counterparty, the Group places cash deposits and enters into derivative financial instruments with a diversified group of financial institutions carrying suitable credit ratings in line with the Treasury Operations Policy. Utilisation of counterparty credit limits is regularly monitored by treasury and ISDA agreements are in place to permit the net settlement of assets and liabilities in certain circumstances. The table below summarises the Group's largest exposures to financial counterparties as at 30 September 2024. At the balance sheet date management does not expect these counterparties to default on their current obligations.
2024
2023
Maximum Maximum
exposure to exposure to
credit risk credit risk
Counterparty exposure \u00a3 million \u00a3 million
Highest
253
311
2nd highest
134
104
3rd highest
50
84
4th highest
27
83
5th highest
10
80
These exposures are held with counterparties with investment grade credit ratings or in money market funds with a AAA rating. (C) Liquidity risk The Group is exposed to liquidity risk, which represents the risk of having insufficient funds to meet its financing needs in any particular location when needed. To manage this risk the Group has a policy of actively maintaining a mixture of short, medium and long-term committed facilities that are structured to ensure that the Group has sufficient available funds to meet the forecast requirements of the Group over the short to medium term. To prevent over-reliance on individual sources of liquidity, funding is provided across a range of instruments including debt capital market issuance, bank term loans, bank revolving credit facilities and European commercial paper. The Group primarily borrows centrally in order to meet forecast funding requirements, and the treasury function is in regular dialogue with subsidiary companies to ensure their liquidity needs are met. Subsidiary companies are funded by a combination of share capital and retained earnings, intercompany loans, and in very limited cases through external local borrowings. Cash pooling processes are used to centralise surplus cash held by subsidiaries where possible in order to minimise external borrowing requirements and interest costs. Treasury invests surplus cash in bank deposits and money market funds and uses foreign exchange contracts to manage short term liquidity requirements in line with short-term cash flow forecasts. As at 30 September 2024, the Group held liquid assets of \u00a31,078 million (2023: \u00a31,345 million). The table below summarises the Group\u2019s non-derivative financial liabilities by maturity based on their contractual cash flows as at 30 September 2024. The amounts disclosed are undiscounted cash flows calculated using spot rates of exchange prevailing at the relevant balance sheet date. Contractual cash flows in respect of the Group's derivative financial instruments are detailed in note 22.
2024
Contractual
Balance sheet cash flows Between 1 and Between 2 and
\u00a3 million amount
total
<1 year
2 years
5 years
> 5 years
Non-derivative financial liabilities:
Bank loans
34
34
34
\u2013
\u2013
\u2013
Capital market issuance
8,663
10,218
1,497
1,911
2,752
4,058
Trade payables
1,499
1,499
1,499
\u2013
\u2013
\u2013
Lease liabilities
386
435
96
82
144
113
Total non-derivative financial liabilities
10,582
12,186
3,126
1,993
2,896
4,171
2023
Contractual
Balance sheet cash flows Between 1 and Between 2 and
\u00a3 million amount total <1 year 2 years 5 years > 5 years
Non-derivative financial liabilities:
Bank loans
51
51
49
2
\u2013
\u2013
Capital market issuance
9,330
10,663
1,767
1,951
3,651
3,294
Trade payables
1,507
1,507
1,507
\u2013
\u2013
\u2013
Lease liabilities
349
406
82
70
114
140
Total non-derivative financial liabilities
11,237
12,627
3,405
2,023
3,765
3,434
Capital management The Group defines capital as adjusted net debt and equity and manages its capital structure through an appropriate balance of debt and equity in order to drive an efficient mix for the Group. Besides the minimum capitalisation rules that may apply to subsidiaries in certain countries, the Group\u2019s only externally imposed capital requirements are interest cover and gearing covenants contained within its core external bank debt facilities, with which the Group was fully compliant during the current and prior periods and expects to be so going forward. Management have assessed that the likelihood of a future covenant breach is remote. The Group continues to manage its capital structure to maintain investment grade credit ratings which it monitors by reference to a number of key financial ratios, including ongoing consideration of the return of capital to shareholders via regular dividend payments and share buybacks and in on-going discussions with the relevant rating agencies. As at 30 September 2024 the Group was rated Baa3/positive outlook by Moody\u2019s Investor Service Ltd, BBB/A-2/stable outlook by Standard and Poor\u2019s Credit Market Services Europe Limited and BBB/F2/stable outlook by Fitch Ratings Limited. The Group regards its total capital as follows.
\u00a3 million
2024
2023
Adjusted net debt
7,740
8,026
Equity attributable to the owners of the parent
5,442
6,021
Total capital
13,182
14,047
Hedge accounting The Group has investments in foreign operations which are consolidated in its financial statements and whose functional currencies are euros or US dollars. Where it is practicable and cost effective to do so, the foreign exchange rate exposures arising from these investments are hedged through the use of cross-currency swaps, foreign exchange swaps and foreign currency denominated debt. The Group only designates the undiscounted spot element of the cross-currency swaps, foreign exchange swaps and foreign currency debt as hedging instruments. Changes in the fair value of the cross-currency swaps and foreign exchange swaps attributable to changes in interest rates and the effect of discounting are recognised directly in profit or loss within the \u201cNet finance costs\u201d line. These amounts are, therefore, not included in the hedge effectiveness assessment. Net investment gains and losses are reported in exchange movements within other comprehensive income and the hedging instrument foreign currency gains and losses deferred to the foreign currency revaluation reserve are detailed in the statement of changes in equity. The Group establishes the hedging ratio by matching the notional balance of the hedging instruments with an equal notional balance of the net assets of the foreign operation. Given that only the undiscounted spot element of hedging instruments is designated in the hedging relationship, no ineffectiveness is expected unless the notional balance of the designated hedging instruments exceeds the total balance of the foreign operation\u2019s net assets during the reporting period. The foreign currency risk component is determined as the change in the carrying amount of designated net assets of the foreign operation arising solely from changes in spot foreign currency exchange rates. All net investment hedges were fully effective at 30 September 2024. The following table sets out the maturity profile of the hedging instruments used in the Group's net investment hedging strategies:
2024
Total Maturity
notional Between 1 and Between 2 and
\u00a3 million balance <1 year 2 years 5 years > 5 years
Bonds
(4,595)
(438)
(1,103)
(2,120)
(934)
Cross-currency swaps
(5,501)
(1,715)
(1,099)
(1,581)
(1,106)
(10,096)
(2,153)
(2,202)
(3,701)
(2,040)
\u00a3 million
2023
Total Maturity
notional Between 1 and Between 2 and
balance <1 year 2 years 5 years > 5 years
Bonds
(3,897)
\u2013
(433)
(2,645)
(819)
Cross-currency swaps
(5,986)
(1,447)
(1,214)
(1,971)
(1,354)
Foreign exchange swaps
(541)
(541)
\u2013
\u2013
\u2013
(10,424)
(1,988)
(1,647)
(4,616)
(2,173)
The following table contains details of the hedging instruments and hedged items used in the Group's net investment hedging strategies:
2024
Carrying amount Changes in fair
value used for
Notional calculating hedge
\u00a3 million balance
Assets
Liabilities
Balance sheet line item in-effectiveness
Hedging instrument:
Bonds
4,595
\u2013
4,584
Borrowings
321
Cross-currency swaps
5,501
118
76
Derivative financial instruments
213
Foreign exchange swaps
\u2013
\u2013
\u2013
Derivative financial instruments
6
Hedged item:
Investment in a foreign operation
n/a
10,096
\u2013
540
2023
Carrying amount Changes in fair
value used for
calculating hedge
\u00a3 million
Notional balance
Assets
Liabilities
Balance sheet line item in-effectiveness
Hedging instrument:
Bonds
3,897
\u2013
3,929
Borrowings
338
Cross-currency swaps
5,986
\u2013
249
Derivative financial instruments
75
Foreign exchange swaps
541
1
\u2013
Derivative financial instruments
14
Hedged item:
Investment in a foreign operation
n/a
10,424
\u2013
427
Reconciliation of changes in the value of net investment hedges: \u00a3 million
2024
At the Other
beginning of Income comprehensive Designations/(de- At the end
the year statement income designations) of the year
Derivatives in net investment hedges of foreign
(248)
71
219
\u2013
42
operations
Bonds in net investment hedges of foreign operations
(3,929)
42
321
(1,018)
(4,584)
Total
(4,177)
113
540
(1,018)
(4,542)
2023
At the Other
beginning of Income comprehensive Designations/(de- At the end
\u00a3 million the year statement income designations) of the year
Derivatives in net investment hedges of foreign (338)
1
89
\u2013
(248)
operations
Bonds in net investment hedges of foreign operations
(5,414)
(3)
338
1,150
(3,929)
Total
(5,752)
(2)
427
1,150
(4,177)
The Group also treats certain permanent intragroup loans that meet relevant qualifying criteria under IAS 21 as part of its net investment in foreign operations where appropriate. Intragroup loans with a notional value of 3,714 million (\u00a33,099 million equivalent) (2023: 3,714 million (\u00a33,217 million equivalent)) were treated as part of the Group\u2019s net investment in foreign operations at the balance sheet date. Fair value estimation and hierarchy All financial assets and liabilities are carried on the balance sheet at amortised cost, other than derivative financial instruments which are carried at fair value. Derivative fair values are determined based on observable market data such as yield curves, foreign exchange rates and credit default swap prices to calculate the present value of future cash flows associated with each derivative at the balance sheet date (Level 2 classification hierarchy per IFRS 7). Market data is sourced from a reputable financial data provider and valuations are validated by reference to counterparty valuations where appropriate. Some of the Group's derivative financial instruments contain early termination options and these have been considered when assessing the element of the fair value related to credit risk. On this basis the reduction in reported net derivative liabilities due to credit risk is \u00a312 million (2023: \u00a32 million) and would have been a \u00a315 million (2023: \u00a35 million) reduction without considering the early termination options. There were no changes to the valuation methods or transfers between hierarchies during the year. With the exception of capital market issuance, the fair value of all financial assets and financial liabilities is considered approximate to their carrying amount. Netting arrangements of financial instruments The following tables set out the Group's financial assets and financial liabilities that are subject to netting and set-off arrangements.
2024
Gross Net financial Related
financial assets/ amounts not
assets/ (liabilities) per set-off in the
\u00a3 million (liabilities) balance sheet balance sheet Net
Assets
Derivative financial instruments
474
474
(462)
12
Liabilities
Derivative financial instruments
(809)
(809)
462
(347)
2023
Gross Net financial Related
financial assets/ amounts not
assets/ (liabilities) per set-off in the
\u00a3 million (liabilities) balance sheet
balance sheet
Net
Assets
Derivative financial instruments
950
950
(817)
133
Liabilities
Derivative financial instruments
(1,003)
(1,003)
817
(186)
The table below sets out the Group's accounting classification of each class of financial assets and liabilities:
2024
Fair value Fair value Assets and
through through other liabilities at
income comprehensive amortised
\u00a3 million statement income cost Total Current Non-Current
Trade and other receivables
\u2013
\u2013
2,524
2,524
2,487
37
Cash and cash equivalents
\u2013
\u2013
1,078
1,078
1,078
\u2013
Derivatives
356
118
\u2013
474
144
330
Total financial assets
356
118
3,602
4,076
3,709
367
Borrowings
\u2013
\u2013
(8,697)
(8,697)
(1,191)
(7,506)
Trade and other payables
\u2013
\u2013
(8,659)
(8,659)
(8,659)
\u2013
Derivatives
(733)
(76)
\u2013
(809)
(187)
(622)
Lease liabilities
\u2013
\u2013
(386)
(386)
(86)
(300)
Total financial liabilities
(733)
(76)
(17,742)
(18,551)
(10,123)
(8,428)
Total net financial assets/(liabilities)
(377)
42
(14,140)
(14,475)
(6,414)
(8,061)
2023
Fair value Fair value Assets and
through through other liabilities at
income comprehensive amortised
\u00a3 million statement income cost Total Current Non-current
Trade and other receivables
\u2013
\u2013
2,323
2,323
2,297
26
Cash and cash equivalents
\u2013
\u2013
1,345
1,345
1,345
\u2013
Derivatives
949
1
\u2013
950
126
824
Total financial assets
949
1
3,668
4,618
3,768
850
Borrowings
\u2013
\u2013
(9,381)
(9,381)
(1,499)
(7,882)
Trade and other payables
\u2013
\u2013
(8,705)
(8,705)
(8,705)
\u2013
Derivatives
(754)
(249)
\u2013
(1,003)
(174)
(829)
Lease liabilities
\u2013
\u2013
(349)
(349)
(81)
(268)
Total financial liabilities
(754)
(249)
(18,435)
(19,438)
(10,459)
(8,979)
Total net financial assets/(liabilities)
195
(248)
(14,767)
(14,820)
(6,691)
(8,129)
Derivatives classified as fair value through other comprehensive income relate to cross-currency swaps and foreign exchange swaps designated as hedges of foreign currency denominated net investments. The Group only designates the undiscounted foreign exchange spot element of these derivative instruments and the changes in fair value related to this element are posted to other comprehensive income. Changes in the fair value of these derivative instruments attributable to changes in interest rates and the effect of discounting are recognised in the income statement. The Group also designates certain external borrowings as hedges of foreign currency denominated net investments and the foreign exchange revaluation of those external borrowings is recognised in other comprehensive income. The carrying value at 30 September 2024 of those external borrowings included in the above table is \u00a34,639 million (2023: \u00a33,929 million). All of the Group's net investment hedges remain effective.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-571": { "value": "(A) Market risk Price risk The Group is not exposed to equity securities price risk other than assets held by its pension funds disclosed in note 24. The Group is exposed to commodity price risk in that there may be fluctuations in the price of tobacco leaf. As with other agricultural commodities, the price of tobacco leaf tends to be cyclical as supply and demand considerations influence tobacco plantings in those countries where tobacco is grown. Also, different regions may experience variations in weather patterns that may affect crop quality or supply and so lead to changes in price. The Group seeks to reduce this price risk by sourcing tobacco leaf from a number of different countries and counterparties and by varying the levels of tobacco leaf held. Currently, these techniques reduce the expected exposure to this risk over the short to medium term to levels considered not material and accordingly, no sensitivity analysis has been presented. Foreign exchange risk The Group is exposed to movements in foreign exchange rates due to its commercial trading transactions and profits denominated in foreign currencies, as well as the translation of cash, borrowings and derivatives held in non-functional currencies. The Group\u2019s financial results are principally exposed to fluctuations in euro and US dollar exchange rates. Management of the Group's foreign exchange transaction and translation risk is addressed below. Transaction risk The Group\u2019s material transaction exposures arise on costs denominated in currencies other than the functional currencies of subsidiaries, including the purchase of tobacco leaf, which is sourced from various countries but purchased principally in US dollars, and packaging materials which are sourced from various countries and purchased in a number of currencies. The Group is also exposed to transaction foreign exchange risk on the conversion of foreign subsidiary earnings into sterling to fund the external dividends to shareholders. This is managed by selling euros and US dollars monthly throughout the year. Other foreign currency flows are matched where possible and remaining foreign currency transaction exposures are not hedged. Translation risk The Group's currency mix of debt and related derivatives is held with consideration to the currency mix of its net assets and profits, which are primarily euros and US dollars. The Group issues debt in the most appropriate market or markets at the time of raising new finance and has a policy of using cross-currency swap derivative financial instruments to change the currency of debt as required. Borrowings denominated in, or swapped into, foreign currencies to match the Group\u2019s investments in overseas subsidiaries are treated as a hedge against the net investment where appropriate. Foreign exchange sensitivity analysis The Group's sensitivity to foreign exchange rate movements, which impacts the translation of monetary items held by subsidiary companies in currencies other than their functional currencies, is illustrated on an indicative basis below. The sensitivity analysis has been prepared on the basis that net debt and the proportion of financial instruments in foreign currencies remain constant, and that there is no change to the net investment hedge designations in place at 30 September 2024. The sensitivity analysis does not reflect any change to revenue or non-finance costs that may result from changing exchange rates, and ignores any taxation implications and offsetting effects of movements in the fair value of derivative financial instruments.
2024
2023
Increase/ Increase/
(decrease) (decrease)
\u00a3 million in income in income
Income statement impact of non-functional currency foreign exchange exposures:
10% appreciation of sterling against euro (2023: 10%)
87
33
10% appreciation of sterling against US dollar (2023: 10%)
(17)
(9)
10% depreciation of sterling against euro (2023: 10%)
(106)
(41)
10% depreciation of sterling against US dollar (2023: 10%)
20
11
Movements in equity in the table below relate to intercompany loans treated as quasi-equity under IAS 21 and hedging instruments designated as net investment hedges of the Group's euro and US dollar denominated assets.
2024
2023
Change in Change in
\u00a3 million equity equity
Equity impact of non-functional currency foreign exchange exposures:
10% appreciation of sterling against euro (2023: 10%)
928
1,035
10% appreciation of sterling against US dollar (2023: 10%)
272
205
10% depreciation of sterling against euro (2023: 10%)
(1,134)
(1,265)
10% depreciation of sterling against US dollar (2023: 10%)
(332)
(250)
At 30 September 2024, after the effect of derivative financial instruments, approximately 102% of the Group\u2019s net debt was denominated in euro and non US dollar currencies (2023: 111%) and (2)% in US dollars (2023: (11)%). Interest rate risk The Group's interest rate risk arises from its borrowings net of cash and cash equivalents, with the primary exposures arising from fluctuations in euro and US dollar interest rates. Borrowings at variable rates expose the Group to cash flow interest rate risk. Borrowings at fixed rates expose the Group to fair value interest rate risk. The Group manages its exposure to interest rate risk on its borrowings by entering into derivative financial instruments, interest rate swaps, to achieve an appropriate mix of fixed and floating interest rate debt in accordance with the Treasury Operations Policy and Treasury Committee discussions. As at 30 September 2024, after adjusting for the effect of derivative financial instruments detailed in note 22, approximately 109% (2023: 107%) of reported net debt was at fixed rates of interest and (9)% (2023: (7)%) was at floating rates of interest. After adjusting for cash held in subsidiary bank accounts and cash in transit, accrued interest, the mark to market of the derivative portfolio, finance leases, and the trade receivables that were sold to a financial institution under a non-recourse factoring arrangement, approximately 97% (2023: 94%) of debt was at fixed rates of interest and 3% (2023: 6%) was at floating rates of interest. Interest rate sensitivity analysis The Group's sensitivity to interest rates on its euro and US dollar monetary items, which are primarily external borrowings, cash and cash equivalents, is illustrated on an indicative basis below. The impact in the Group's income statement reflects the effect on net finance costs in respect of the Group's net debt and the fixed to floating rate debt ratio prevailing at 30 September 2024, ignoring any taxation implications and offsetting effects of movements in the fair value of derivative financial instruments. The sensitivity analysis has been prepared on the basis that net debt and the derivatives portfolio remain constant and that there is no net impact on other comprehensive income.
2024
2023
Change in Change in
\u00a3 million income income
Income statement impact of interest rate movements:
+/- 1% increase in euro interest rates (2023: 1%)
1
12
+/- 1% increase in US dollar interest rates (2023: 1%)
(2)
(9)
", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-584": { "value": "Foreign exchange sensitivity analysis The Group's sensitivity to foreign exchange rate movements, which impacts the translation of monetary items held by subsidiary companies in currencies other than their functional currencies, is illustrated on an indicative basis below. The sensitivity analysis has been prepared on the basis that net debt and the proportion of financial instruments in foreign currencies remain constant, and that there is no change to the net investment hedge designations in place at 30 September 2024. The sensitivity analysis does not reflect any change to revenue or non-finance costs that may result from changing exchange rates, and ignores any taxation implications and offsetting effects of movements in the fair value of derivative financial instruments.
2024
2023
Increase/ Increase/
(decrease) (decrease)
\u00a3 million in income in income
Income statement impact of non-functional currency foreign exchange exposures:
10% appreciation of sterling against euro (2023: 10%)
87
33
10% appreciation of sterling against US dollar (2023: 10%)
(17)
(9)
10% depreciation of sterling against euro (2023: 10%)
(106)
(41)
10% depreciation of sterling against US dollar (2023: 10%)
20
11
Movements in equity in the table below relate to intercompany loans treated as quasi-equity under IAS 21 and hedging instruments designated as net investment hedges of the Group's euro and US dollar denominated assets.
2024
2023
Change in Change in
\u00a3 million equity equity
Equity impact of non-functional currency foreign exchange exposures:
10% appreciation of sterling against euro (2023: 10%)
928
1,035
10% appreciation of sterling against US dollar (2023: 10%)
272
205
10% depreciation of sterling against euro (2023: 10%)
(1,134)
(1,265)
10% depreciation of sterling against US dollar (2023: 10%)
(332)
(250)
At 30 September 2024, after the effect of derivative financial instruments, approximately 102% of the Group\u2019s net debt was denominated in euro and non US dollar currencies (2023: 111%) and (2)% in US dollars (2023: (11)%). Interest rate sensitivity analysis The Group's sensitivity to interest rates on its euro and US dollar monetary items, which are primarily external borrowings, cash and cash equivalents, is illustrated on an indicative basis below. The impact in the Group's income statement reflects the effect on net finance costs in respect of the Group's net debt and the fixed to floating rate debt ratio prevailing at 30 September 2024, ignoring any taxation implications and offsetting effects of movements in the fair value of derivative financial instruments. The sensitivity analysis has been prepared on the basis that net debt and the derivatives portfolio remain constant and that there is no net impact on other comprehensive income.
2024
2023
Change in Change in
\u00a3 million income income
Income statement impact of interest rate movements:
+/- 1% increase in euro interest rates (2023: 1%)
1
12
+/- 1% increase in US dollar interest rates (2023: 1%)
(2)
(9)
", "dimensions": { "concept": "ifrs-full:SensitivityAnalysisForEachTypeOfMarketRisk", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-572": { "value": "(B) Credit risk IFRS 9 requires an expected credit loss (ECL) model to be applied to financial assets. The expected credit loss model requires the Group to account for expected losses as a result of credit risk on initial recognition of financial assets and to recognise changes in those expected credit losses at each reporting date. Allowances are measured at an amount equal to the lifetime expected credit losses where the credit risk on the receivables increases significantly after initial recognition. The Group is primarily exposed to credit risk arising from the extension of credit to its customers, on cash deposits and derivatives. The maximum aggregate credit risk to these sources was \u00a33,947 million at 30 September 2024 (2023: \u00a34,507 million). Trade and other receivables Policies are in place to manage the risk associated with the extension of credit to third parties to ensure that commercial intent is balanced effectively with credit risk management. Subsidiaries have policies in place that require appropriate credit checks on customers and credit is extended with consideration to financial risk and creditworthiness. If a customer requires credit beyond an acceptable limit, security may be put in place to minimise the financial impact in the event of a payment default. Instruments that may typically be used as security include non-recourse receivables factoring and bank guarantees. At 30 September 2024 the level of trade receivables that were sold to a financial institution under a non-recourse factoring arrangement, and subsequently derecognised, totalled \u00a3570 million (2023: \u00a3570 million). The total value of trade receivables reclassified as fair value was \u00a353 million at 30 September 2024 (2023: \u00a322 million). There was no valuation difference between amortised cost and fair value. Analysis of trade and other receivables is provided in note 17. Financial instruments In order to manage its credit risk to any one counterparty, the Group places cash deposits and enters into derivative financial instruments with a diversified group of financial institutions carrying suitable credit ratings in line with the Treasury Operations Policy. Utilisation of counterparty credit limits is regularly monitored by treasury and ISDA agreements are in place to permit the net settlement of assets and liabilities in certain circumstances. The table below summarises the Group's largest exposures to financial counterparties as at 30 September 2024. At the balance sheet date management does not expect these counterparties to default on their current obligations.
2024
2023
Maximum Maximum
exposure to exposure to
credit risk credit risk
Counterparty exposure \u00a3 million \u00a3 million
Highest
253
311
2nd highest
134
104
3rd highest
50
84
4th highest
27
83
5th highest
10
80
These exposures are held with counterparties with investment grade credit ratings or in money market funds with a AAA rating. ", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-573": { "value": "(C) Liquidity risk The Group is exposed to liquidity risk, which represents the risk of having insufficient funds to meet its financing needs in any particular location when needed. To manage this risk the Group has a policy of actively maintaining a mixture of short, medium and long-term committed facilities that are structured to ensure that the Group has sufficient available funds to meet the forecast requirements of the Group over the short to medium term. To prevent over-reliance on individual sources of liquidity, funding is provided across a range of instruments including debt capital market issuance, bank term loans, bank revolving credit facilities and European commercial paper. The Group primarily borrows centrally in order to meet forecast funding requirements, and the treasury function is in regular dialogue with subsidiary companies to ensure their liquidity needs are met. Subsidiary companies are funded by a combination of share capital and retained earnings, intercompany loans, and in very limited cases through external local borrowings. Cash pooling processes are used to centralise surplus cash held by subsidiaries where possible in order to minimise external borrowing requirements and interest costs. Treasury invests surplus cash in bank deposits and money market funds and uses foreign exchange contracts to manage short term liquidity requirements in line with short-term cash flow forecasts. As at 30 September 2024, the Group held liquid assets of \u00a31,078 million (2023: \u00a31,345 million). The table below summarises the Group\u2019s non-derivative financial liabilities by maturity based on their contractual cash flows as at 30 September 2024. The amounts disclosed are undiscounted cash flows calculated using spot rates of exchange prevailing at the relevant balance sheet date. Contractual cash flows in respect of the Group's derivative financial instruments are detailed in note 22.
2024
Contractual
Balance sheet cash flows Between 1 and Between 2 and
\u00a3 million amount
total
<1 year
2 years
5 years
> 5 years
Non-derivative financial liabilities:
Bank loans
34
34
34
\u2013
\u2013
\u2013
Capital market issuance
8,663
10,218
1,497
1,911
2,752
4,058
Trade payables
1,499
1,499
1,499
\u2013
\u2013
\u2013
Lease liabilities
386
435
96
82
144
113
Total non-derivative financial liabilities
10,582
12,186
3,126
1,993
2,896
4,171
2023
Contractual
Balance sheet cash flows Between 1 and Between 2 and
\u00a3 million amount total <1 year 2 years 5 years > 5 years
Non-derivative financial liabilities:
Bank loans
51
51
49
2
\u2013
\u2013
Capital market issuance
9,330
10,663
1,767
1,951
3,651
3,294
Trade payables
1,507
1,507
1,507
\u2013
\u2013
\u2013
Lease liabilities
349
406
82
70
114
140
Total non-derivative financial liabilities
11,237
12,627
3,405
2,023
3,765
3,434
", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-574": { "value": "Capital management The Group defines capital as adjusted net debt and equity and manages its capital structure through an appropriate balance of debt and equity in order to drive an efficient mix for the Group. Besides the minimum capitalisation rules that may apply to subsidiaries in certain countries, the Group\u2019s only externally imposed capital requirements are interest cover and gearing covenants contained within its core external bank debt facilities, with which the Group was fully compliant during the current and prior periods and expects to be so going forward. Management have assessed that the likelihood of a future covenant breach is remote. The Group continues to manage its capital structure to maintain investment grade credit ratings which it monitors by reference to a number of key financial ratios, including ongoing consideration of the return of capital to shareholders via regular dividend payments and share buybacks and in on-going discussions with the relevant rating agencies. As at 30 September 2024 the Group was rated Baa3/positive outlook by Moody\u2019s Investor Service Ltd, BBB/A-2/stable outlook by Standard and Poor\u2019s Credit Market Services Europe Limited and BBB/F2/stable outlook by Fitch Ratings Limited. The Group regards its total capital as follows.
\u00a3 million
2024
2023
Adjusted net debt
7,740
8,026
Equity attributable to the owners of the parent
5,442
6,021
Total capital
13,182
14,047
", "dimensions": { "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-575": { "value": "Hedge accounting The Group has investments in foreign operations which are consolidated in its financial statements and whose functional currencies are euros or US dollars. Where it is practicable and cost effective to do so, the foreign exchange rate exposures arising from these investments are hedged through the use of cross-currency swaps, foreign exchange swaps and foreign currency denominated debt. The Group only designates the undiscounted spot element of the cross-currency swaps, foreign exchange swaps and foreign currency debt as hedging instruments. Changes in the fair value of the cross-currency swaps and foreign exchange swaps attributable to changes in interest rates and the effect of discounting are recognised directly in profit or loss within the \u201cNet finance costs\u201d line. These amounts are, therefore, not included in the hedge effectiveness assessment. Net investment gains and losses are reported in exchange movements within other comprehensive income and the hedging instrument foreign currency gains and losses deferred to the foreign currency revaluation reserve are detailed in the statement of changes in equity. The Group establishes the hedging ratio by matching the notional balance of the hedging instruments with an equal notional balance of the net assets of the foreign operation. Given that only the undiscounted spot element of hedging instruments is designated in the hedging relationship, no ineffectiveness is expected unless the notional balance of the designated hedging instruments exceeds the total balance of the foreign operation\u2019s net assets during the reporting period. The foreign currency risk component is determined as the change in the carrying amount of designated net assets of the foreign operation arising solely from changes in spot foreign currency exchange rates. All net investment hedges were fully effective at 30 September 2024. The following table sets out the maturity profile of the hedging instruments used in the Group's net investment hedging strategies:
2024
Total Maturity
notional Between 1 and Between 2 and
\u00a3 million balance <1 year 2 years 5 years > 5 years
Bonds
(4,595)
(438)
(1,103)
(2,120)
(934)
Cross-currency swaps
(5,501)
(1,715)
(1,099)
(1,581)
(1,106)
(10,096)
(2,153)
(2,202)
(3,701)
(2,040)
\u00a3 million
2023
Total Maturity
notional Between 1 and Between 2 and
balance <1 year 2 years 5 years > 5 years
Bonds
(3,897)
\u2013
(433)
(2,645)
(819)
Cross-currency swaps
(5,986)
(1,447)
(1,214)
(1,971)
(1,354)
Foreign exchange swaps
(541)
(541)
\u2013
\u2013
\u2013
(10,424)
(1,988)
(1,647)
(4,616)
(2,173)
The following table contains details of the hedging instruments and hedged items used in the Group's net investment hedging strategies:
2024
Carrying amount Changes in fair
value used for
Notional calculating hedge
\u00a3 million balance
Assets
Liabilities
Balance sheet line item in-effectiveness
Hedging instrument:
Bonds
4,595
\u2013
4,584
Borrowings
321
Cross-currency swaps
5,501
118
76
Derivative financial instruments
213
Foreign exchange swaps
\u2013
\u2013
\u2013
Derivative financial instruments
6
Hedged item:
Investment in a foreign operation
n/a
10,096
\u2013
540
2023
Carrying amount Changes in fair
value used for
calculating hedge
\u00a3 million
Notional balance
Assets
Liabilities
Balance sheet line item in-effectiveness
Hedging instrument:
Bonds
3,897
\u2013
3,929
Borrowings
338
Cross-currency swaps
5,986
\u2013
249
Derivative financial instruments
75
Foreign exchange swaps
541
1
\u2013
Derivative financial instruments
14
Hedged item:
Investment in a foreign operation
n/a
10,424
\u2013
427
Reconciliation of changes in the value of net investment hedges: \u00a3 million
2024
At the Other
beginning of Income comprehensive Designations/(de- At the end
the year statement income designations) of the year
Derivatives in net investment hedges of foreign
(248)
71
219
\u2013
42
operations
Bonds in net investment hedges of foreign operations
(3,929)
42
321
(1,018)
(4,584)
Total
(4,177)
113
540
(1,018)
(4,542)
2023
At the Other
beginning of Income comprehensive Designations/(de- At the end
\u00a3 million the year statement income designations) of the year
Derivatives in net investment hedges of foreign (338)
1
89
\u2013
(248)
operations
Bonds in net investment hedges of foreign operations
(5,414)
(3)
338
1,150
(3,929)
Total
(5,752)
(2)
427
1,150
(4,177)
The Group also treats certain permanent intragroup loans that meet relevant qualifying criteria under IAS 21 as part of its net investment in foreign operations where appropriate. Intragroup loans with a notional value of 3,714 million (\u00a33,099 million equivalent) (2023: 3,714 million (\u00a33,217 million equivalent)) were treated as part of the Group\u2019s net investment in foreign operations at the balance sheet date. 22. DERIVATIVE FINANCIAL INSTRUMENTS The Group\u2019s derivative financial instruments held at fair value, are as follows.
2024
2023
\u00a3 million
Assets
Liabilities
Net fair value
Assets
Liabilities
Net fair value
Current derivative financial instruments:
Interest rate swaps
65
(54)
11
30
(66)
(36)
Foreign exchange contracts
1
(4)
(3)
12
(5)
7
Cross-currency swaps
78
(129)
(51)
84
(103)
(19)
Total current derivatives
144
(187)
(43)
126
(174)
(48)
Non-current derivative financial instruments:
Interest rate swaps
240
(365)
(125)
745
(652)
93
Cross-currency swaps
90
(257)
(167)
79
(177)
(98)
Total non-current derivatives
330
(622)
(292)
824
(829)
(5)
Total carrying value of derivative financial
instruments
474
(809)
(335)
950
(1,003)
(53)
Analysed as:
Interest rate swaps
305
(419)
(114)
775
(718)
57
Foreign exchange contracts
1
(4)
(3)
12
(5)
7
Cross-currency swaps
168
(386)
(218)
163
(280)
(117)
Total carrying value of derivative financial
instruments
474
(809)
(335)
950
(1,003)
(53)
The classification of these derivative assets and liabilities under the IFRS 7 fair value hierarchy is provided in note 21. Maturity of obligations under derivative financial instruments Derivative financial instruments have been classified in the balance sheet as current or non-current on an undiscounted contractual basis based on spot rates as at the balance sheet date. For the purposes of the above and following analysis, maturity dates have been based on the likelihood of any early termination options being exercised with consideration to counterparty expectations and market conditions prevailing as at 30 September 2024. The table below summarises the Group's derivative financial instruments by maturity based on their remaining contractual cash flows as at 30 September 2024. The amounts disclosed are the undiscounted cash flows calculated using interest rates and spot rates of exchange prevailing at the relevant balance sheet date. Contractual cash flows in respect of the Group's non-derivative financial instruments are detailed in note 21.
2024
Contractual
Balance sheet cash flows Between 1 and Between 2 and
\u00a3 million amount total <1 year 2 years 5 years >5 years
Net settled derivatives
(114)
194
10
1
117
66
Gross settled derivatives
(221)
\u2013
\u2013
\u2013
\u2013
\u2013
\u2022
receipts
\u2013
20,719
6,490
2,730
5,762
5,737
\u2022
payments
\u2013
(20,770)
(6,497)
(2,719)
(5,772)
(5,782)
(335)
143
3
12
107
21
2023
Contractual
Balance sheet cash flows Between 1 and Between 2 and
\u00a3 million amount total <1 year 2 years 5 years >5 years
Net settled derivatives
57
200
(3)
34
143
26
Gross settled derivatives
(110)
\u2013
\u2013
\u2013
\u2013
\u2013
\u2022
receipts
\u2013
17,822
5,429
4,010
5,283
3,100
\u2022
payments
\u2013
(17,675)
(5,374)
(3,941)
(5,247)
(3,113)
(53)
347
52
103
179
13
Derivatives as hedging instruments As outlined in note 21, the Group hedges its underlying interest rate exposure and foreign currency translation exposures in an efficient, commercial and structured manner, primarily using interest rate swaps and cross-currency swaps. Foreign exchange contracts are used to manage the Group\u2019s short term liquidity requirements in line with short term cash flow forecasts as appropriate. The Group does not apply cash flow or fair value hedge accounting, as permitted under IFRS 9, which results in fair value gains and losses attributable to derivative financial instruments being recognised in net finance costs unless they are designated as hedges of a net investment in foreign operations, in which case they are recognised in other comprehensive income. Interest rate swaps To manage interest rate risk on its borrowings, the Group issues debt in the market or markets that are most appropriate at the time of raising new finance with regard to currency, interest denomination or duration, and then uses interest rate swaps to re-base the debt into the appropriate proportions of fixed and floating interest rates. Interest rate swaps are also transacted to manage and re-profile the Group's interest rate risk over the short, medium and long term in accordance with the Treasury Operations Policy as approved by the Treasury Committee. Fair value movements are recognised in net finance costs in the relevant reporting period. As at 30 September 2024, the notional amount of interest rate swaps outstanding that were entered into to convert fixed rate borrowings into floating rates of interest at the time of raising new finance was \u00a36,349 million equivalent (2023: \u00a38,111 million equivalent) with a fair value of \u00a3339 million liability (2023: \u00a3714 million liability). The fixed interest rates vary from 1.3% to 5.4% (2023: 1.3% to 7.9%), and the floating rates are based on EURIBOR, SONIA and SOFR. As at 30 September 2024, the notional amount of interest rate swaps outstanding that were entered into to convert the Group's debt into the appropriate proportion of fixed and floating rates to manage and re-profile the Group's interest rate risk was \u00a312,119 million equivalent (2023: \u00a311,622 million equivalent) with a fair value of \u00a3225 million asset (2023: \u00a3771 million asset). The fixed interest rates vary from 3.1% receivable to 4.0% payable (2023: 3.1% receivable to 4.0% payable), and the floating receivable rates reference EURIBOR and SOFR. This includes forward starting interest rate swaps with a total notional amount of \u00a34,719 million equivalent (2023: \u00a34,055 million equivalent) with tenors between 1 and 10 years, starting between October 2024 and May 2032. Cross-currency swaps The Group enters into cross-currency swaps to convert the currency of debt into the appropriate currency with consideration to the underlying assets of the Group as appropriate. Fair value movements are recognised in net finance costs in the relevant reporting period unless the swaps are designated as hedges of a net investment in foreign operations, in which case the fair value movement attributable to changes in foreign exchange rates are recognised in other comprehensive income. As at 30 September 2024, the notional amount of cross-currency swaps entered into to convert sterling debt into the desired currency was \u00a31,000 million (2023: \u00a31,600 million) and the fair value of these swaps was \u00a376 million net liability (2023: \u00a3111 million net liability); the notional amount of cross-currency swaps entered into to convert US dollar debt into the desired currency was US$ 6,950 million (2023: US$ 5,250 million) and the fair value of these swaps was \u00a3142 million net liability (2023: \u00a36 million net liability). This includes forward starting cross-currency swaps with a total notional amount of US$ 1,250 million equivalent (2023: no forward starting cross- currency swaps) with tenors of 4.5 years, starting in July 2025. Foreign exchange contracts The Group enters into foreign exchange contracts to manage short-term liquidity requirements in line with cash flow forecasts. As at 30 September 2024, the notional amount of these contracts was \u00a3842 million equivalent (2023: \u00a32,020 million equivalent) and the fair value of these contracts was a net liability of \u00a33 million (2023: \u00a37 million net asset). Hedges of net investments in foreign operations As at 30 September 2024, cross-currency swaps with a notional amount of 6,593 million (2023: 6,910 million) were designated as hedges of net investments in foreign operations. During the year, foreign exchange translation gains amounting to \u00a3213 million (2023: \u00a375 million gains) were recognised within exchange movements in other comprehensive income in respect of cross-currency swaps designated as hedges of a net investment in foreign operations. No hedging ineffectiveness occurred during the year (2023: \u00a3nil). As at 30 September 2024, foreign exchange swaps with a notional amount of nil (2023: 624 million) were designated as hedges of net investments in foreign operations. During the year, foreign exchange translation gains amounting to \u00a36 million (2023: \u00a314 million gains) were recognised within exchange movements in other comprehensive income in respect of foreign exchange swaps that had been designated as hedges of a net investment in foreign operations. No hedging ineffectiveness occurred during the year (2023: \u00a3nil). The movements in other comprehensive income due to net investment hedging in the period were as follows:
\u00a3 million
2024
2023
Foreign exchange gains on borrowings
321
338
Foreign exchange gains on derivative financial instruments
219
89
540
427
", "dimensions": { "concept": "ifrs-full:DisclosureOfHedgeAccountingExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-585": { "value": "Fair value estimation and hierarchy All financial assets and liabilities are carried on the balance sheet at amortised cost, other than derivative financial instruments which are carried at fair value. Derivative fair values are determined based on observable market data such as yield curves, foreign exchange rates and credit default swap prices to calculate the present value of future cash flows associated with each derivative at the balance sheet date (Level 2 classification hierarchy per IFRS 7). Market data is sourced from a reputable financial data provider and valuations are validated by reference to counterparty valuations where appropriate. Some of the Group's derivative financial instruments contain early termination options and these have been considered when assessing the element of the fair value related to credit risk. On this basis the reduction in reported net derivative liabilities due to credit risk is \u00a312 million (2023: \u00a32 million) and would have been a \u00a315 million (2023: \u00a35 million) reduction without considering the early termination options. There were no changes to the valuation methods or transfers between hierarchies during the year. With the exception of capital market issuance, the fair value of all financial assets and financial liabilities is considered approximate to their carrying amount. ", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-553": { "value": "22. DERIVATIVE FINANCIAL INSTRUMENTS The Group\u2019s derivative financial instruments held at fair value, are as follows.
2024
2023
\u00a3 million
Assets
Liabilities
Net fair value
Assets
Liabilities
Net fair value
Current derivative financial instruments:
Interest rate swaps
65
(54)
11
30
(66)
(36)
Foreign exchange contracts
1
(4)
(3)
12
(5)
7
Cross-currency swaps
78
(129)
(51)
84
(103)
(19)
Total current derivatives
144
(187)
(43)
126
(174)
(48)
Non-current derivative financial instruments:
Interest rate swaps
240
(365)
(125)
745
(652)
93
Cross-currency swaps
90
(257)
(167)
79
(177)
(98)
Total non-current derivatives
330
(622)
(292)
824
(829)
(5)
Total carrying value of derivative financial
instruments
474
(809)
(335)
950
(1,003)
(53)
Analysed as:
Interest rate swaps
305
(419)
(114)
775
(718)
57
Foreign exchange contracts
1
(4)
(3)
12
(5)
7
Cross-currency swaps
168
(386)
(218)
163
(280)
(117)
Total carrying value of derivative financial
instruments
474
(809)
(335)
950
(1,003)
(53)
The classification of these derivative assets and liabilities under the IFRS 7 fair value hierarchy is provided in note 21. Maturity of obligations under derivative financial instruments Derivative financial instruments have been classified in the balance sheet as current or non-current on an undiscounted contractual basis based on spot rates as at the balance sheet date. For the purposes of the above and following analysis, maturity dates have been based on the likelihood of any early termination options being exercised with consideration to counterparty expectations and market conditions prevailing as at 30 September 2024. The table below summarises the Group's derivative financial instruments by maturity based on their remaining contractual cash flows as at 30 September 2024. The amounts disclosed are the undiscounted cash flows calculated using interest rates and spot rates of exchange prevailing at the relevant balance sheet date. Contractual cash flows in respect of the Group's non-derivative financial instruments are detailed in note 21.
2024
Contractual
Balance sheet cash flows Between 1 and Between 2 and
\u00a3 million amount total <1 year 2 years 5 years >5 years
Net settled derivatives
(114)
194
10
1
117
66
Gross settled derivatives
(221)
\u2013
\u2013
\u2013
\u2013
\u2013
\u2022
receipts
\u2013
20,719
6,490
2,730
5,762
5,737
\u2022
payments
\u2013
(20,770)
(6,497)
(2,719)
(5,772)
(5,782)
(335)
143
3
12
107
21
2023
Contractual
Balance sheet cash flows Between 1 and Between 2 and
\u00a3 million amount total <1 year 2 years 5 years >5 years
Net settled derivatives
57
200
(3)
34
143
26
Gross settled derivatives
(110)
\u2013
\u2013
\u2013
\u2013
\u2013
\u2022
receipts
\u2013
17,822
5,429
4,010
5,283
3,100
\u2022
payments
\u2013
(17,675)
(5,374)
(3,941)
(5,247)
(3,113)
(53)
347
52
103
179
13
Derivatives as hedging instruments As outlined in note 21, the Group hedges its underlying interest rate exposure and foreign currency translation exposures in an efficient, commercial and structured manner, primarily using interest rate swaps and cross-currency swaps. Foreign exchange contracts are used to manage the Group\u2019s short term liquidity requirements in line with short term cash flow forecasts as appropriate. The Group does not apply cash flow or fair value hedge accounting, as permitted under IFRS 9, which results in fair value gains and losses attributable to derivative financial instruments being recognised in net finance costs unless they are designated as hedges of a net investment in foreign operations, in which case they are recognised in other comprehensive income. Interest rate swaps To manage interest rate risk on its borrowings, the Group issues debt in the market or markets that are most appropriate at the time of raising new finance with regard to currency, interest denomination or duration, and then uses interest rate swaps to re-base the debt into the appropriate proportions of fixed and floating interest rates. Interest rate swaps are also transacted to manage and re-profile the Group's interest rate risk over the short, medium and long term in accordance with the Treasury Operations Policy as approved by the Treasury Committee. Fair value movements are recognised in net finance costs in the relevant reporting period. As at 30 September 2024, the notional amount of interest rate swaps outstanding that were entered into to convert fixed rate borrowings into floating rates of interest at the time of raising new finance was \u00a36,349 million equivalent (2023: \u00a38,111 million equivalent) with a fair value of \u00a3339 million liability (2023: \u00a3714 million liability). The fixed interest rates vary from 1.3% to 5.4% (2023: 1.3% to 7.9%), and the floating rates are based on EURIBOR, SONIA and SOFR. As at 30 September 2024, the notional amount of interest rate swaps outstanding that were entered into to convert the Group's debt into the appropriate proportion of fixed and floating rates to manage and re-profile the Group's interest rate risk was \u00a312,119 million equivalent (2023: \u00a311,622 million equivalent) with a fair value of \u00a3225 million asset (2023: \u00a3771 million asset). The fixed interest rates vary from 3.1% receivable to 4.0% payable (2023: 3.1% receivable to 4.0% payable), and the floating receivable rates reference EURIBOR and SOFR. This includes forward starting interest rate swaps with a total notional amount of \u00a34,719 million equivalent (2023: \u00a34,055 million equivalent) with tenors between 1 and 10 years, starting between October 2024 and May 2032. Cross-currency swaps The Group enters into cross-currency swaps to convert the currency of debt into the appropriate currency with consideration to the underlying assets of the Group as appropriate. Fair value movements are recognised in net finance costs in the relevant reporting period unless the swaps are designated as hedges of a net investment in foreign operations, in which case the fair value movement attributable to changes in foreign exchange rates are recognised in other comprehensive income. As at 30 September 2024, the notional amount of cross-currency swaps entered into to convert sterling debt into the desired currency was \u00a31,000 million (2023: \u00a31,600 million) and the fair value of these swaps was \u00a376 million net liability (2023: \u00a3111 million net liability); the notional amount of cross-currency swaps entered into to convert US dollar debt into the desired currency was US$ 6,950 million (2023: US$ 5,250 million) and the fair value of these swaps was \u00a3142 million net liability (2023: \u00a36 million net liability). This includes forward starting cross-currency swaps with a total notional amount of US$ 1,250 million equivalent (2023: no forward starting cross- currency swaps) with tenors of 4.5 years, starting in July 2025. Foreign exchange contracts The Group enters into foreign exchange contracts to manage short-term liquidity requirements in line with cash flow forecasts. As at 30 September 2024, the notional amount of these contracts was \u00a3842 million equivalent (2023: \u00a32,020 million equivalent) and the fair value of these contracts was a net liability of \u00a33 million (2023: \u00a37 million net asset). Hedges of net investments in foreign operations As at 30 September 2024, cross-currency swaps with a notional amount of 6,593 million (2023: 6,910 million) were designated as hedges of net investments in foreign operations. During the year, foreign exchange translation gains amounting to \u00a3213 million (2023: \u00a375 million gains) were recognised within exchange movements in other comprehensive income in respect of cross-currency swaps designated as hedges of a net investment in foreign operations. No hedging ineffectiveness occurred during the year (2023: \u00a3nil). As at 30 September 2024, foreign exchange swaps with a notional amount of nil (2023: 624 million) were designated as hedges of net investments in foreign operations. During the year, foreign exchange translation gains amounting to \u00a36 million (2023: \u00a314 million gains) were recognised within exchange movements in other comprehensive income in respect of foreign exchange swaps that had been designated as hedges of a net investment in foreign operations. No hedging ineffectiveness occurred during the year (2023: \u00a3nil). The movements in other comprehensive income due to net investment hedging in the period were as follows:
\u00a3 million
2024
2023
Foreign exchange gains on borrowings
321
338
Foreign exchange gains on derivative financial instruments
219
89
540
427
", "dimensions": { "concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-554": { "value": "23. DEFERRED TAX ASSETS AND LIABILITIES Deferred tax relates to the following:
Consolidated Consolidated Consolidated Consolidated
income income balance balance
statement statement sheet sheet
\u00a3 million 2024 2023 2024 2023
Temporary differences on depreciation and amortisation
(53)
164
(711)
(716)
Retirement benefits
(5)
(9)
48
30
Tax credits and losses
393
6
579
282
Accruals, provisions and other temporary differences
(48)
(3)
193
186
Deferred tax benefit
287
158
Net deferred tax assets/(liabilities)
109
(218)
Reflected in the consolidated balance sheet as follows
\u00a3 million
2024
2023
Deferred tax assets
889
653
Deferred tax liabilities
(780)
(871)
109
(218)
Reconciliation of net deferred tax liabilities
\u00a3 million
2024
2023
At 1 October
(218)
(522)
Credited to the income statement
287
158
Credited to other comprehensive income
36
134
Credited to equity
2
1
Acquisitions
\u2013
(15)
Exchange movements
2
22
Other movements
(16)
4
As at 30 September
109
(218)
Unrecognised deferred tax assets
Gross Net Gross Net
\u00a3 million 2024 2024 2023 2023
Tax losses
245
64
235
62
Tax credits
806
282
15
15
Other temporary differences
77
22
84
24
1,128
368
334
101
Analysis of unrecognised deferred tax assets by expiry date
Gross Net Gross Net
\u00a3 million 2024 2024 2023 2023
Tax losses expiring:
No expiry
245
64
235
62
245
64
235
62
Tax credits expiring:
Within 1 year
\u2013
\u2013
15
15
No expiry
806
282
\u2013
\u2013
806
282
15
15
Other temporary differences expiring:
No expiry
77
22
84
24
77
22
84
24
In December 2021, the OECD issued model rules for a new global minimum tax framework (Pillar Two), applicable for multinational enterprise groups with global revenue over 750 million. The legislation implementing the rules in the UK was substantively enacted on 20 June 2023 and will apply to the Group from the financial year ending 30 September 2025 onwards. The Group has applied the mandatory exception under IAS 12 in relation to the accounting for deferred tax assets and liabilities arising from the implementation of the Pillar Two model rules. Based on the assessments carried out so far, although additional tax liabilities are expected to be incurred, the Group does not expect any significant exposure to Pillar Two income taxes in those jurisdictions where the minimum tax requirement is not met, based predominantly on the data for the year ended 30 September 2023. The Group is continuing to review this legislation and monitors the status of implementation of the model rules outside of the UK to assess the potential impact. Included within net deferred tax liabilities are deferred tax assets recognised of \u00a3213 million (2023: \u00a3257 million) for tax credits arising in the Group's Spanish business. These tax credits have no time expiry. Utilisation of these tax credits is restricted to 50% of the Spanish business' taxable profits arising in any given year; those tax law restrictions extend the period over which the deferred tax assets would otherwise be recovered. The Group considers there to be forecast future taxable profits which support the recognition of these long term deferred tax assets. The period over which these deferred tax assets are utilised is sensitive to forecasting assumptions about future growth rates (which may be influenced by the future effects of climate change) and regulatory changes. Any material effects of climate change in the long term could extend the period over which the deferred tax asset will be recovered but as the tax credits do not expire, the Group considers there is positive evidence that sufficient future taxable profits would still be available. Based on a range of forecast scenarios modelling sensitivities (including the future effects of climate change) these deferred tax assets are expected to be utilised over a period of 16 years. Included within net deferred tax liabilities are deferred tax assets recognised for retirement benefits of \u00a398 million (2023: \u00a388 million) arising in the Group's German business. These deferred tax assets are expected to be recovered both by way of utilisation against the reversal of deferred tax liabilities of \u00a349 million (2023: \u00a340 million) arising in the Group's German business and by way of utilisation against future taxable profits. The Group considers there to be forecast future taxable profits which support the recognition of these long term deferred tax assets. Based on a range of forecast scenarios modelling sensitivities these deferred tax assets are expected to be recovered over a period of 20-40 years corresponding to the life of the pension scheme. The period over which these deferred tax assets are utilised is sensitive to forecasting assumptions about future growth rates of the underlying business (which may be influenced by the future effects of climate change) and regulatory changes. Included within net deferred tax liabilities are deferred tax assets recognised for intangibles of \u00a3179 million (2023: \u00a3199 million) arising in the Group's Dutch business. These deferred tax assets are expected to be recovered by way of utilisation against future taxable profits. The Group considers there to be forecast future taxable profits which support the recognition of these long term deferred tax assets. The period over which these deferred tax assets are utilised is sensitive to forecasting assumptions about future growth rates (which may be influenced by the future effects of climate change) and regulatory changes. These deferred tax assets are expected to be recovered over a period of 15 years corresponding to the life of the intangibles. Included within net deferred tax liabilities are deferred tax assets recognised of \u00a3293 million (2023: \u00a30 million) in relation to tax credits brought forward within the Group\u2019s Maltese treasury centre, recognised as a result of clarifying tax guidance issued by the tax authorities during FY24 and the resulting intention to utilise these brought forward tax credits against taxable income arising from long-term loans of a fixed term tenure, which were refinanced during the financial year. The period over which these deferred tax assets are utilised is sensitive to forecasting assumptions about future growth rates of the underlying business (which may be influenced by the future effects of climate change) and regulatory changes. The Group considers there is positive evidence that sufficient future taxable profits would still be available. Based on a range of forecast scenarios modelling sensitivities these deferred tax assets are expected to be utilised over a period of 5-10 years. Tax losses arising within the Maltese group in periods prior to the formation of tax fiscal units, are kept in abeyance and therefore unavailable for utilisation within the fiscal unit and no deferred tax asset has been recognised thereon, but amounts are included within unrecognised deferred tax. We have reviewed the recoverability of deferred tax assets in overseas territories in the light of forecast business performance. In 2024 we have recognised deferred tax assets of \u00a33 million that were previously unrecognised (2023: recognised deferred tax assets of \u00a36 million that were previously unrecognised) on the basis that it is more likely than not that these are recoverable. A deferred tax liability of \u00a346 million (2023: \u00a343 million) is recognised in respect of taxation expected to arise on the future distribution of unremitted earnings totalling \u00a32.17 billion (2023: \u00a32 billion). The temporary differences associated with investments in the Group's subsidiaries, associates and joint ventures for which a deferred tax liability has not been recognised in the periods presented, aggregate to \u00a31,472 million (2023: \u00a31,477 million) for which a deferred tax liability of \u00a337 million (2023: \u00a338 million) has not been recognised. No liability has been recognised because the Group is in a position to control the timing of the reversal of those temporary differences and it is probable that such differences will not reverse in the foreseeable future.", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-522": { "value": "
24. RETIREMENT BENEFIT SCHEMES
The Group operates a number of retirement benefit schemes for its employees, including both defined benefit and defined contribution
schemes. The Group's three principal schemes are defined benefit schemes and are operated by Imperial Tobacco Limited (ITL) in the UK,
Reemtsma Cigarettenfabriken GmbH in Germany and ITG Brands in the USA; these schemes represent 66%, 16% and 7% of the Group's
total defined benefit obligations (2023: 64%, 15% and 9%) and 0%, 41% and 11% of the current service cost (2023: 22%, 32% and 8%)
respectively.
Imperial Tobacco Pension Fund
The UK scheme, the Imperial Tobacco Pension Fund (\"ITPF\"), was closed to future accrual on 30 September 2023. All active members are
now enrolled into the defined contribution scheme as of 1 October 2023 alongside all new employees that have joined since 1 October
2010. Former active members of the defined benefit section of the ITPF are now deferred members who are able to draw their pension in
the same way as an existing deferred member and are in receipt of annual inflationary increases as existing deferred members. The
impact of the closure to future accrual was reported in the 2023 consolidated income statement. A further cost of \u00a35.6 million is reported
in the 2024 consolidated income statement due to a legal ruling in the year which has become applicable to ITL. The ruling required some
elements of the compensation paid in 2023 to be subject to income tax and national insurance which ITL agreed to cover for impacted
members if such a ruling were made. The ITPF defined benefit obligation comprises 78% in respect of pensioners and dependants, 22% in
respect of deferred members and has a weighted average maturity of 12 years.
The ITPF operates under trust law and is managed and administered by the Trustees on behalf of the members in accordance with the
terms of the Trust Deed and Rules and relevant legislation. The ITPF assets are held by the trust.
The main risk for the company in respect of the ITPF is that additional contributions are required if the assets are not expected to be
sufficient to pay for the benefits. The investment portfolio is subject to a range of risks typical of the asset classes held, such as liquidity to
manage the Liability Driven Investment (LDI) portfolio, credit exposure within investment funds and exposure to the property market. The
ITPF holds a buy-in policy with Standard Life as an asset; this covers around 61% of the pensioner defined benefit obligation. The buy-in
eliminates investment return, longevity, inflation and funding risks in respect of those benefits covered. The ITPF also has access to a
loan facility to provide short-term liquidity to support the LDI portfolio in the event of significant changes in government bond yields.
The main uncertainties affecting the level of benefits payable under the ITPF are future inflation levels, as these impact increases to
pensions, and the actual longevity of the membership.
The contributions paid to the ITPF are set by the ITPF Scheme Actuary every three years. The Scheme Actuary is an external consultant,
appointed by the Trustees. Principal factors that the Scheme Actuary will have regard to include the covenant offered by the company,
the level of risk in the ITPF, the expected return on assets, the results of the funding assessment on the Technical Provisions basis and
the expected cost of securing benefits if the ITPF were to be wound up.
The latest valuation agreed at 31 March 2022 reported a 118% funding ratio on the Technical Provisions basis. ITL and the Trustee agreed to
maintain the existing dynamic contribution schedule, which means ITL\u2019s annual contributions will reduce or increase depending on the
ITPF valuation going forward. The level of ITL's annual contribution to the ITPF was nil for the year to 31 March 2024, although \u00a38.4 million
was paid into an escrow account over this period. ITL does not expect to pay any contributions to the ITPF or the escrow account for the
year to 31 March 2025. Further contributions were agreed to be paid by ITL in the event of a downgrade of the Group's credit rating to non-
investment grade by either Standard & Poor's or Moody's, if a funding deficit were to exist. In addition, a surety guarantee with a total
value of \u00a3120 million and a parental guarantee from Imperial Brands PLC remains in place. In certain circumstances, surplus funds in the
defined benefit section of the ITPF may be used to finance defined contribution section contributions on ITL's behalf with company
contributions reduced accordingly.
The IAS 19 measurement of the defined benefit obligation is sensitive to the assumptions made about future inflation as well as the
assumptions made about life expectancy. It is also sensitive to the discount rate, which depends on market yields on sterling
denominated AA corporate bonds. The main differences between the Technical Provisions and IAS 19 assumptions are a more prudent
longevity assumption for Technical Provisions and a different approach to setting the discount rate. A consequence of the ITPF\u2019s
investment strategy, with a proportion of the assets invested in return-seeking assets, is that the difference between the market value of
the assets and the IAS 19 defined benefit obligation may be relatively volatile.
The ITPF has a pension surplus on the IAS 19 measure and, in line with IFRIC 14, recognition of the net asset on the fund is only
appropriate where it can be recovered. The ITPF trust deed gives the company an ability to receive a refund of surplus assets assuming
the full settlement of liabilities in the event of a wind-up. Furthermore, in the ordinary course of business the Trustee has no rights to
unilaterally wind up the ITPF or otherwise augment the benefits due to the ITPF's members. Based on these circumstances, any net
surplus in the ITPF is recognised in full.
The Reemtsma Cigarettenfabriken Pension Plan
The German scheme, the Reemtsma Cigarettenfabriken Pension Plan (RCPP), is primarily a career average pension plan, though a small
group of members have final salary benefits. The RCPP defined benefit obligation comprises 52% in respect of pensioners and
dependants, 23% in respect of deferred members and 25% in respect of active members and has a weighted average maturity of 16 years.
The RCPP was closed to new members from 1 January 2020, but existing active members at that date continue to accrue benefits.
The RCPP is unfunded and the company pays benefits as they arise. The RCPP obligations arise under a works council agreement and are
subject to standard German legal requirements around such matters as the benefits to be provided to employees who leave service, and
pension increases in payment. Over the next year Reemtsma Cigarettenfabriken GmbH expects to pay \u00a324 million (2023: \u00a324 million) in
respect of benefits.
The main uncertainties affecting the level of benefits payable under the RCPP are future inflation levels, as these impact increases to
pensions, and the actual longevity of the membership.
The IAS 19 measurement of the defined benefit obligation and the current service cost are sensitive to the assumptions made about the
above variables, as well as the discount rate, which depends on market yields on euro denominated AA corporate bonds.
ITG scheme
The main US pension scheme, the ITG Scheme held by ITG Brands, is a defined benefit pension plan that is closed to new entrants. The
ITG Scheme defined benefit obligation comprises 79% in respect of pensioners and dependants, 3% in respect of deferred members and
18% in respect of active members and has a weighted average maturity of nine years.
ITG Brands transacted a partial buy-out of some of the pensioner and dependant population during 2024. The buy-out resulted in a 2024
income statement credit of \u00a34.8 million
The ITG Scheme is funded and benefits are paid from the ITG Scheme assets. Contributions to the plan are determined based on US
regulatory requirements. ITG Brands made no contributions this year and is not expected to make any contributions in the next year.
Annual benefits in payment are assumed not to increase from current levels. The main uncertainty affecting the level of benefits payable
under the plan is the actual longevity of the membership. Other key uncertainties impacting the plan include investment risk and
potential past service benefit changes from future union negotiations.
The IAS 19 measurement of the defined benefit obligation and the service cost are sensitive to the assumptions made about the above
variables, as well as the discount rate, which depends on market yields on US dollar denominated AA corporate bonds.
Other plans
Other plans of the Group include various pension plans, other post-employment and long-term employee benefit plans in several
countries of operation. Some of the plans are funded, with assets backing the obligations held in separate legal vehicles such as trusts,
whilst others are operated on an unfunded basis. The benefits provided, the approach to funding and the legal basis of the plans reflect
their local territories. IAS 19 requires that the discount rate for calculating the defined benefit obligation and service cost is set according
to the level of relevant market yields on corporate bonds where the market is considered \"deep\", or government bonds where it is not.
For the year ended 30 September 2024 the Group included one new scheme in the IAS 19 position.
In Ireland, the Company and Trustees agreed to offer a lump sum to deferred members of the plan which was completed in 2024. In the
US, the Company also agreed a partial pensioner buy-out with our smaller defined benefit plan alongside the ITG Scheme and also agreed
changes to our post retirement medical plan with the unionised population.
The results of the most recent available actuarial valuations for the various plans have been updated to 30 September 2024 in order to
determine the amounts to be included in the Group's consolidated financial statements. The aggregate IAS 19 position is as follows:
Defined benefit plans
\u00a3 million
2024
2023
DBO
Assets
Total
DBO
Assets
Total
At 1 October
(3,370)
2,977
(393)
(3,609)
3,541
(68)
Consolidated income statement expense:
Current service cost
(18)
\u2013
(18)
(25)
\u2013
(25)
Settlements gains/(losses)
109
(107)
2
2
(6)
(4)
Past service income
12
\u2013
12
9
\u2013
9
Cost of termination benefits
(2)
\u2013
(2)
(5)
\u2013
(5)
Net interest (expense)/income on net defined benefit
(liability)/asset
(171)
160
(11)
(165)
178
13
Administration costs paid from plan assets
\u2013
(5)
(5)
\u2013
(5)
(5)
Cost recognised in the income statement
(22)
(17)
Remeasurements:
Actuarial gain/(loss) due to liability experience
13
\u2013
13
(132)
\u2013
(132)
Actuarial (loss)/gain due to financial assumption
changes
(161)
\u2013
(161)
234
\u2013
234
Actuarial gain due to demographic assumption
changes
1
\u2013
1
\u2013
\u2013
\u2013
Return on plan assets excluding amounts included
in net interest income/(expense) above
Remeasurement effects recognised in other
\u2013
44
44
\u2013
(478)
(478)
comprehensive income
(103)
(376)
Cash:
Employer contributions
\u2013
55
55
\u2013
59
59
Benefits paid directly by the Company
247
(247)
\u2013
265
(265)
\u2013
Net cash
55
59
Changes to immaterial benefit plans categorised as
an IAS 19 obligation recognised in the prior year
(11)
\u2013
(11)
(8)
\u2013
(8)
Exchange movements
64
(33)
31
64
(47)
17
Total other
20
9
At 30 September
(3,287)
2,844
(443)
(3,370)
2,977
(393)
Retirement benefit scheme costs charged to operating profit
\u00a3 million
2024
2023
Defined benefit expense in operating profit
11
30
Defined contribution expense in operating profit
23
16
Total retirement benefit scheme cost in operating profit
34
46
Split as follows in the consolidated income statement:
\u00a3 million
2024
2023
Cost of sales
12
15
Distribution, advertising and selling costs
13
20
Administrative and other expenses
9
11
Total retirement benefit scheme costs in operating profit
34
46
Assets and liabilities recognised in the consolidated balance sheet
\u00a3 million
2024
2023
Retirement benefit assets
376
414
Retirement benefit liabilities
(819)
(807)
Net retirement benefit liability
(443)
(393)
Key figures and assumptions used for major plans
2024
2023
\u00a3 million unless otherwise indicated
ITPF
RCPP
ITG Scheme
ITPF
RCPP
ITG Scheme
Defined benefit obligation (DBO)
2,157
524
235
2,142
496
311
Fair value of scheme assets
(2,459)
\u2013
(264)
(2,481)
\u2013
(337)
Net defined benefit (asset)/liability
(302)
524
(29)
(339)
496
(26)
Current service cost
\u2013
7
2
6
8
2
Employer contributions
\u2013
23
\u2013
\u2013
23
\u2013
Principal actuarial assumptions used (% per annum)
Discount rate
5.1
3.4
4.8
5.6
4.2
5.7
Future salary increases
n/a
3.1
n/a
n/a
3.5
n/a
Future pension increases
3.2
2.0
n/a
3.4
2.4
n/a
Inflation
3.1
2.0
2.3
3.4
2.4
2.3
2024
ITPF RCPP ITG Scheme
Male
Female
Male
Female
Male
Female
Life expectancy at age 65 years:
Member currently aged 65
21.2
22.6
20.9
24.3
19.8
21.9
Member currently aged 50
22.0
23.9
22.9
25.9
21.0
23.0
2023
ITPF RCPP ITG Scheme
Male
Female
Male
Female
Male
Female
Life expectancy at age 65 years:
Member currently aged 65
21.2
22.5
20.8
24.2
19.7
21.7
Member currently aged 50
21.9
23.8
22.8
25.8
20.8
22.8
Assumptions regarding future mortality experience are set based on advice that uses published statistics and experience in each
territory. In particular for the ITPF, SAPS S3 (2023: SAPS S3) tables are used with various adjustments for different groups of members,
reflecting observed experience. The largest group of members uses the SAPS S3 All Pensioner Male Amounts Middle table with a 105%
multiplier. An allowance for improvements in longevity is made using the 2021 (2023: 2021) CMI improvement rates with a long-term
trend of 1.25% per annum.
Sensitivity analysis for key assumptions at the end of the year
Sensitivity analysis is illustrative only and is provided to demonstrate the degree of sensitivity of results to key assumptions. Generally,
estimates are made by re-performing calculations with one assumption modified and all others held constant.
% increase in DBO
2024
2023
ITPF
RCPP
ITG Scheme
ITPF
RCPP
ITG Scheme
Discount rate: 0.5% decrease
5.7
8.1
4.9
5.6
8.1
4.5
Rate of inflation: 0.5% decrease
(4.3)
(5.6)
n/a
(4.2)
(5.7)
n/a
One-year increase in longevity for a member currently age
65, corresponding changes at other ages
3.6
4.1
4.2
3.5
4.2
4.4
The sensitivity to the inflation assumption change includes corresponding changes to the future salary increases and future pension
increases assumptions, but is assumed to be independent of any change to discount rate.
We estimate that a 0.5% decrease in the discount rate at the start of the year would have increased the consolidated income statement
pension expense by approximately \u00a38 million (2023: \u00a312 million).
An approximate split of the major categories of ITPF scheme assets is as follows:
2024
2023
Percentage of Percentage of
ITPF scheme ITPF scheme
\u00a3 million unless otherwise indicated Fair value assets Fair value assets
Bonds - index linked government / LDI funds
487
19.8
351
14.1
Property including ground leases
446
18.1
488
19.7
Secured finance and private debt funds
463
18.8
620
25.0
Insurance contract (buy-in policy)
1,035
42.1
1,044
42.1
Other - including cash and short-term loan drawings
28
1.1
(22)
(0.9)
2,459
100.0
2,481
100.0
The primary investment objective is to invest the ITPF's assets in an appropriate and secure manner such that members' benefit
entitlements can be paid as they fall due.
The majority of the assets are non-quoted. The ITPF holds \u00a3nil of self-invested assets (2023: \u00a3nil).
An approximate split of the major categories of ITG Scheme assets is as follows:
2024
2023
P
e
r
c
e
n
t
a
g
e
o
f
Percentage of
I
TG Schem
e
ITG Scheme
\u00a3 million unless otherwise indicated
F
a
i
i
r
v
a
l
u
e
a
s
s
e
t
s
Fair value assets
Bonds - government, corporate and other
122
46.2
203
60.2
Other - including derivatives, commodities and cash
142
53.8
134
39.8
264
100.0
337
100.0
e
f
e
s
The majority of the assets are non-quoted.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-555": { "value": "Defined benefit plans \u00a3 million
2024
2023
DBO
Assets
Total
DBO
Assets
Total
At 1 October
(3,370)
2,977
(393)
(3,609)
3,541
(68)
Consolidated income statement expense:
Current service cost
(18)
\u2013
(18)
(25)
\u2013
(25)
Settlements gains/(losses)
109
(107)
2
2
(6)
(4)
Past service income
12
\u2013
12
9
\u2013
9
Cost of termination benefits
(2)
\u2013
(2)
(5)
\u2013
(5)
Net interest (expense)/income on net defined benefit
(liability)/asset
(171)
160
(11)
(165)
178
13
Administration costs paid from plan assets
\u2013
(5)
(5)
\u2013
(5)
(5)
Cost recognised in the income statement
(22)
(17)
Remeasurements:
Actuarial gain/(loss) due to liability experience
13
\u2013
13
(132)
\u2013
(132)
Actuarial (loss)/gain due to financial assumption
changes
(161)
\u2013
(161)
234
\u2013
234
Actuarial gain due to demographic assumption
changes
1
\u2013
1
\u2013
\u2013
\u2013
Return on plan assets excluding amounts included
in net interest income/(expense) above
Remeasurement effects recognised in other
\u2013
44
44
\u2013
(478)
(478)
comprehensive income
(103)
(376)
Cash:
Employer contributions
\u2013
55
55
\u2013
59
59
Benefits paid directly by the Company
247
(247)
\u2013
265
(265)
\u2013
Net cash
55
59
Changes to immaterial benefit plans categorised as
an IAS 19 obligation recognised in the prior year
(11)
\u2013
(11)
(8)
\u2013
(8)
Exchange movements
64
(33)
31
64
(47)
17
Total other
20
9
At 30 September
(3,287)
2,844
(443)
(3,370)
2,977
(393)
Retirement benefit scheme costs charged to operating profit
\u00a3 million
2024
2023
Defined benefit expense in operating profit
11
30
Defined contribution expense in operating profit
23
16
Total retirement benefit scheme cost in operating profit
34
46
Split as follows in the consolidated income statement:
\u00a3 million
2024
2023
Cost of sales
12
15
Distribution, advertising and selling costs
13
20
Administrative and other expenses
9
11
Total retirement benefit scheme costs in operating profit
34
46
Assets and liabilities recognised in the consolidated balance sheet
\u00a3 million
2024
2023
Retirement benefit assets
376
414
Retirement benefit liabilities
(819)
(807)
Net retirement benefit liability
(443)
(393)
Key figures and assumptions used for major plans
2024
2023
\u00a3 million unless otherwise indicated
ITPF
RCPP
ITG Scheme
ITPF
RCPP
ITG Scheme
Defined benefit obligation (DBO)
2,157
524
235
2,142
496
311
Fair value of scheme assets
(2,459)
\u2013
(264)
(2,481)
\u2013
(337)
Net defined benefit (asset)/liability
(302)
524
(29)
(339)
496
(26)
Current service cost
\u2013
7
2
6
8
2
Employer contributions
\u2013
23
\u2013
\u2013
23
\u2013
Principal actuarial assumptions used (% per annum)
Discount rate
5.1
3.4
4.8
5.6
4.2
5.7
Future salary increases
n/a
3.1
n/a
n/a
3.5
n/a
Future pension increases
3.2
2.0
n/a
3.4
2.4
n/a
Inflation
3.1
2.0
2.3
3.4
2.4
2.3
2024
ITPF RCPP ITG Scheme
Male
Female
Male
Female
Male
Female
Life expectancy at age 65 years:
Member currently aged 65
21.2
22.6
20.9
24.3
19.8
21.9
Member currently aged 50
22.0
23.9
22.9
25.9
21.0
23.0
2023
ITPF RCPP ITG Scheme
Male
Female
Male
Female
Male
Female
Life expectancy at age 65 years:
Member currently aged 65
21.2
22.5
20.8
24.2
19.7
21.7
Member currently aged 50
21.9
23.8
22.8
25.8
20.8
22.8
Assumptions regarding future mortality experience are set based on advice that uses published statistics and experience in each territory. In particular for the ITPF, SAPS S3 (2023: SAPS S3) tables are used with various adjustments for different groups of members, reflecting observed experience. The largest group of members uses the SAPS S3 All Pensioner Male Amounts Middle table with a 105% multiplier. An allowance for improvements in longevity is made using the 2021 (2023: 2021) CMI improvement rates with a long-term trend of 1.25% per annum. Sensitivity analysis for key assumptions at the end of the year Sensitivity analysis is illustrative only and is provided to demonstrate the degree of sensitivity of results to key assumptions. Generally, estimates are made by re-performing calculations with one assumption modified and all others held constant. % increase in DBO
2024
2023
ITPF
RCPP
ITG Scheme
ITPF
RCPP
ITG Scheme
Discount rate: 0.5% decrease
5.7
8.1
4.9
5.6
8.1
4.5
Rate of inflation: 0.5% decrease
(4.3)
(5.6)
n/a
(4.2)
(5.7)
n/a
One-year increase in longevity for a member currently age
65, corresponding changes at other ages
3.6
4.1
4.2
3.5
4.2
4.4
The sensitivity to the inflation assumption change includes corresponding changes to the future salary increases and future pension increases assumptions, but is assumed to be independent of any change to discount rate. We estimate that a 0.5% decrease in the discount rate at the start of the year would have increased the consolidated income statement pension expense by approximately \u00a38 million (2023: \u00a312 million). An approximate split of the major categories of ITPF scheme assets is as follows:
2024
2023
Percentage of Percentage of
ITPF scheme ITPF scheme
\u00a3 million unless otherwise indicated Fair value assets Fair value assets
Bonds - index linked government / LDI funds
487
19.8
351
14.1
Property including ground leases
446
18.1
488
19.7
Secured finance and private debt funds
463
18.8
620
25.0
Insurance contract (buy-in policy)
1,035
42.1
1,044
42.1
Other - including cash and short-term loan drawings
28
1.1
(22)
(0.9)
2,459
100.0
2,481
100.0
The primary investment objective is to invest the ITPF's assets in an appropriate and secure manner such that members' benefit entitlements can be paid as they fall due. The majority of the assets are non-quoted. The ITPF holds \u00a3nil of self-invested assets (2023: \u00a3nil). An approximate split of the major categories of ITG Scheme assets is as follows:
2024
2023
P
e
r
c
e
n
t
a
g
e
o
f
Percentage of
I
TG Schem
e
ITG Scheme
\u00a3 million unless otherwise indicated
F
a
i
i
r
v
a
l
u
e
a
s
s
e
t
s
Fair value assets
Bonds - government, corporate and other
122
46.2
203
60.2
Other - including derivatives, commodities and cash
142
53.8
134
39.8
264
100.0
337
100.0
e f e s The majority of the assets are non-quoted.", "dimensions": { "concept": "ifrs-full:DisclosureOfDefinedBenefitPlansExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-523": { "value": "
25. PROVISIONS
2024
Employment
\u00a3 million Restructuring related claims
Other
Total
At 1 October 2023
180
144
90
414
Additional provisions charged to the consolidated income statement
\u2013
14
34
48
Amounts used
(46)
(36)
(22)
(104)
Unused amounts reversed
\u2013
(3)
(30)
(33)
Exchange movements
(4)
(7)
(3)
(14)
At 30 September 2024
130
112
69
311
Analysed as:
\u00a3 million
2024
2023
Current
89
148
Non-current
222
266
311
414
Restructuring provisions relate mainly to the 2021 Strategic Review Programme and Cost Optimisation programmes (see note 6).
The restructuring provision is split between the 2021 Strategic Review Programme of \u00a363 million (2023: \u00a388 million) and other
programmes of \u00a367 million (2023: \u00a392 million).
Employment-related claims provisions include \u00a323 million (2023: \u00a331 million) relating to local employment requirements including
holiday pay and \u00a325 million (2023: \u00a328 million) of distribution requirements relating to employment and duty. An amount of \u00a364 million
(2023: \u00a385 million) has been provided for employment-related claims arising from a number of legacy legal disputes. Although the
Company continues to appeal a number of these claims, in the current year the Group has resolved to engage with certain counterparties
where a valid claim has been established. There are uncertainties relating to the estimation and quantification of this provision and
amounts may change in the future, but this provision is expected to be utilised within the next two years.
Other provisions include \u00a329 million (2023: \u00a338 million) relating to various local tax or duty requirements, \u00a38 million (2023: \u00a39 million) of
market exit provisions and \u00a312 million for factory closure provisions (2023: \u00a330 million).
The provisions are spread throughout the Group and payment will be dependent on local statutory requirements.
Most of the provisions will also be utilised within the next two years, though certain employee-related and restructuring provisions may
be required to be held for a period of up to 10 years where they relate to requirements to provide benefits for defined periods of time after
an employee leaves employment.
", "dimensions": { "concept": "ifrs-full:DisclosureOfProvisionsExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-524": { "value": "
26. SHARE CAPITAL
2024
2023
Ordinary shares 10p each
Ordinary shares 10p each
Number
\u00a3 million
Number
\u00a3 million
Authorised, issued and fully paid:
1 October
968,590,194
97
1,020,697,237
103
Shares cancelled
(54,087,312)
(6)
(52,107,043)
(6)
30 September
914,502,882
91
968,590,194
97
On 5 October 2023, the Board approved a \u00a31,100 million share buyback programme in order to return capital to shareholders. The first
tranche purchased 30,317,505 shares for a cost of \u00a3550 million. Upon completion of the purchase, these shares were cancelled and
transferred to the capital redemption reserve. For the second tranche of the programme, the Group has entered into an irrevocable and
non-discretionary arrangement to buy back shares up to \u00a3550 million. The second tranche commenced on 11 March 2024 and in the
period to 30 September 2024 54,087,312 shares have been bought back and cancelled at a cost of \u00a31,020 million. The stamp duty and other
tax costs were \u00a312 million and the fees charged for the share repurchase were \u00a31 million. Upon completion of the purchase, these shares
were cancelled and transferred to the capital redemption reserve. As at 30 September 2024, the Group has recognised a liability of \u00a390
million for the remaining shares to be purchased.
For the year ended 30 September 2024 the amounts recognised in the share premium and capital redemption reserves were \u00a35,833
million (2023: \u00a35,833 million) and \u00a316 million (2023: \u00a310 million) respectively.
28. TREASURY SHARES
Subject to authorisation by special resolution, the Group may purchase its own shares in accordance with the Companies Act. Any shares
which have been bought back may be held as treasury shares or, if not so held, must be cancelled immediately upon completion of the
purchase, thereby reducing the amount of Group\u2019s issued share capital. Shares held in treasury do not qualify for dividends. Shares
purchased under the share buyback programme initiated on 5 October 2023 were cancelled immediately on completion of the purchase.
During the financial year 2.0 million shares were gifted to Employee Share Ownership Trusts (2023: no movements).
2024
2023
Millions of Millions of
shares Value shares Value
\u00a3 million unless otherwise indicated (number) \u00a3 (number) \u00a3
At 1 October
70.3
2,183
70.3
2,183
Gifted to Employee Share Ownership Trusts
(2.0)
\u2013
\u2013
\u2013
At 30 September
68.3
2,183
70.3
2,183
Percentage of issued share capital
7.5
n/a
7.3
n/a
", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-556": { "value": "26. SHARE CAPITAL
2024
2023
Ordinary shares 10p each
Ordinary shares 10p each
Number
\u00a3 million
Number
\u00a3 million
Authorised, issued and fully paid:
1 October
968,590,194
97
1,020,697,237
103
Shares cancelled
(54,087,312)
(6)
(52,107,043)
(6)
30 September
914,502,882
91
968,590,194
97
On 5 October 2023, the Board approved a \u00a31,100 million share buyback programme in order to return capital to shareholders. The first tranche purchased 30,317,505 shares for a cost of \u00a3550 million. Upon completion of the purchase, these shares were cancelled and transferred to the capital redemption reserve. For the second tranche of the programme, the Group has entered into an irrevocable and non-discretionary arrangement to buy back shares up to \u00a3550 million. The second tranche commenced on 11 March 2024 and in the period to 30 September 2024 54,087,312 shares have been bought back and cancelled at a cost of \u00a31,020 million. The stamp duty and other tax costs were \u00a312 million and the fees charged for the share repurchase were \u00a31 million. Upon completion of the purchase, these shares were cancelled and transferred to the capital redemption reserve. As at 30 September 2024, the Group has recognised a liability of \u00a390 million for the remaining shares to be purchased. For the year ended 30 September 2024 the amounts recognised in the share premium and capital redemption reserves were \u00a35,833 million (2023: \u00a35,833 million) and \u00a316 million (2023: \u00a310 million) respectively.", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-525": { "value": "
27. SHARE SCHEMES
The Group operates four types of share-based incentive programmes, designed to incentivise staff and to encourage them to build a stake
in the Group.
Share Matching Scheme
Awards are made to eligible employees who are invited to invest a proportion of their eligible bonus in shares for a period of three years,
after which matching shares are awarded on a 1:1 ratio, plus dividend equivalents.
Long-Term Incentive Plan (LTIP)
Awards of shares under the LTIP are made to the Executive Directors and senior executives at the discretion of the Remuneration
Committee. They vest three years after grant and are subject to performance criteria. Dividend equivalents accrue on vested shares.
Sharesave Plan
Options are granted to eligible employees who participate in a designated savings scheme for a three-year period.
Discretionary Share Awards Plan (DSAP)
Under the DSAP, one-off conditional awards are made to individuals to recognise exceptional contributions within the business. Awards,
which are not subject to performance conditions and under which vested shares do not attract dividend roll-up, will normally vest on the
third anniversary of the date of grant subject to the participant\u2019s continued employment. The limit of an award under the DSAP is capped
at 25% of the participant\u2019s salary at the date of grant. Shares used to settle awards under the DSAP will be market purchased.
Further details of the schemes including additional criteria applying to Directors and some senior executives are set out in the Directors'
Remuneration Report.
Analysis of charge to the consolidated income statement
\u00a3 million
2024
2023
Share Matching Scheme
2
2
Long-Term Incentive Plan
28
27
Sharesave Plan
1
1
Discretionary Share Awards Plan
1
1
32
31
The awards are predominantly equity settled. The balance sheet liability in respect of cash-settled schemes at 30 September 2024 was
\u00a33.5 million (2023: \u00a33.4 million).
Reconciliation of movements in awards/options
2024
Sharesave
Share weighted
Matching average
Scheme LTIP Sharesave DSAP exercise
Thousands of shares unless otherwise indicated awards awards options awards price \u00a3
Outstanding at 1 October 2023
453
8,502
1,686
173
13.72
Granted
172
4,341
445
73
15.96
Cancelled/forfeited/lapsed
(20)
(1,608)
(138)
(11)
13.61
Exercised
(234)
(2,670)
(453)
(24)
13.10
Outstanding at 30 September 2024
371
8,565
1,540
211
14.78
Exercisable at 30 September 2024
\u2013
\u2013
42
\u2013
13.09
2023
Share Sharesave
Matching weighted
average
Scheme LTIP Sharesave DSAP exercise
Thousands of shares unless otherwise indicated awards awards options awards price \u00a3
Outstanding at 1 October 2022
486
8,120
1,934
120
13.21
Granted
161
3,853
862
67
13.24
Cancelled/forfeited/lapsed
(18)
(2,402)
(90)
(11)
12.63
Exercised
(176)
(1,069)
(1,020)
(3)
12.38
Outstanding at 30 September 2023
453
8,502
1,686
173
13.72
Exercisable at 30 September 2023
\u2013
\u2013
264
\u2013
12.37
The weighted average Imperial Brands PLC share price at the date of exercise of awards and options was \u00a320.06 (2023: \u00a318.28). The
weighted average fair value of Sharesave options granted during the year was \u00a33.40 (2023: \u00a33.26).
Summary of awards/options outstanding at 30 September 2024
Vesting
Number of period Exercise price
awards/options remaining of options
Thousands of shares unless otherwise indicated outstanding in months outstanding \u00a3
Share Matching Scheme
2022
128
5
n/a
2023
122
17
n/a
2024
121
29
n/a
Total awards outstanding
371
Long-Term Incentive Plan
2022
2,313
5
n/a
2023
2,675
17
n/a
2024
3,577
29
n/a
Total awards outstanding
8,565
Sharesave Plan
2021
42
\u2013
13.09
2022
244
10
14.56
2023
815
22
14.29
2024
439
34
15.96
Total options outstanding
1,540
Discretionary Share Awards Plan
2022
74
5
n/a
2023
65
18
n/a
2024
72
29
n/a
Total options outstanding
211
The vesting period is the period between the grant of awards or options and the earliest date on which they are exercisable. The vesting
period remaining and the exercise price of options outstanding are weighted averages. Participants in the Sharesave Plan have six
months from the maturity date to exercise their options. Participants in the LTIP generally have seven years from the end of the vesting
period to exercise their options. The exercise price of the options is fixed over the life of each option.
Pricing
For the purposes of valuing options to calculate the share-based payment charge, the Black-Scholes option pricing model has been used
for the Share Matching Scheme, Sharesave Plan, Discretionary Share Awards Plan and one Long-Term Incentive Plan with no market
conditions. A summary of the assumptions used in the Black-Scholes model for 2024 and 2023 is as follows:
2024
Share
Matching
Scheme
Sharesave
DSAP
Risk-free interest rate %
4.2
4.3
4.2
Volatility (based on 3-year history) %
25.0
24.1
25.0
Expected lives of options granted years
3.0
3.0
3.0
Dividend yield %
7.6
7.6
7.6
Fair value \u00a3
14.56
3.40
14.55
Share price used to determine exercise price \u00a3
18.31
19.80
18.31
Exercise price \u00a3
n/a
15.96
n/a
2023
Share
Matching
Scheme
Sharesave
DSAP
Risk-free interest rate %
4.0
4.4
4.1
Volatility (based on 3-year history) %
33.1
27.7
33.2
Expected lives of options granted years
3.0
3.0
3.0
Dividend yield %
8.2
8.2
8.2
Fair value \u00a3
16.04
3.30
14.72
Share price used to determine exercise price \u00a3
20.53
17.88
18.84
Exercise price \u00a3
n/a
14.29
n/a
Market conditions were incorporated into the Monte Carlo method used in determining the fair value of LTIP awards at grant date.
Assumptions in 2024 and 2023 are given in the following table:
%
2024
2023
Future Imperial Brands share price volatility
18.1
23.3
Future Imperial Brands dividend yield
\u2013
\u2013
Share price volatility of the tobacco and alcohol comparator group
15.4-23.1
15.9-63.5
Correlation between Imperial Tobacco and the alcohol and tobacco comparator group
18.9
21.4
Employee Share Ownership Trusts
The Imperial Tobacco Group PLC Employee and Executive Benefit Trust and the Imperial Tobacco Group PLC 2001 Employee Benefit Trust
(the Trusts) have been established to acquire ordinary shares in the Company to satisfy rights to shares arising on the exercise and
vesting of options and awards. The purchase of shares by the Trusts has been financed by a gift of \u00a319.2 million and an interest free loan
of \u00a3147.5 million. In addition the Group has gifted treasury shares to the Trusts. None of the Trusts' shares has been allocated to
employees or Executive Directors as at 30 September 2024. All finance costs and administration expenses connected with the Trusts are
charged to the consolidated income statement as they accrue. The Trusts have waived their rights to dividends and the shares held by
the Trusts are excluded from the calculation of basic earnings per share.
Shares held by Employee Share Ownership Trusts
Millions of shares
2024
2023
At 1 October
1.6
3.7
Gift of shares from Treasury
2.0
\u2013
Distribution of shares held by Employee Share Ownership Trusts
(3.3)
(2.1)
At 30 September
0.3
1.6
The shares in the Trusts are accounted for on a first in first out basis and comprise nil shares acquired in the open market (2023: nil) and
0.3 million (2023: 1.6 million) treasury shares gifted to the Trusts by the Group. 2.0 million shares (2023: no shares) were gifted to the Trusts
in the financial year 2024.
", "dimensions": { "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-557": { "value": "28. TREASURY SHARES Subject to authorisation by special resolution, the Group may purchase its own shares in accordance with the Companies Act. Any shares which have been bought back may be held as treasury shares or, if not so held, must be cancelled immediately upon completion of the purchase, thereby reducing the amount of Group\u2019s issued share capital. Shares held in treasury do not qualify for dividends. Shares purchased under the share buyback programme initiated on 5 October 2023 were cancelled immediately on completion of the purchase. During the financial year 2.0 million shares were gifted to Employee Share Ownership Trusts (2023: no movements).
2024
2023
Millions of Millions of
shares Value shares Value
\u00a3 million unless otherwise indicated (number) \u00a3 (number) \u00a3
At 1 October
70.3
2,183
70.3
2,183
Gifted to Employee Share Ownership Trusts
(2.0)
\u2013
\u2013
\u2013
At 30 September
68.3
2,183
70.3
2,183
Percentage of issued share capital
7.5
n/a
7.3
n/a
", "dimensions": { "concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-558": { "value": "
29. COMMITMENTS
Capital commitments
\u00a3 million
2024
2023
Contracted but not provided for:
Property, plant and equipment and software
207
97
", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-526": { "value": "29. COMMITMENTS Capital commitments
\u00a3 million
2024
2023
Contracted but not provided for:
Property, plant and equipment and software
207
97
30. CONTINGENT LIABILITIES The following summary includes updates to matters that have developed since the 2023 Annual Report and Accounts. USA state settlement agreements In November 1998, the major United States cigarette manufacturers, including Reynolds and Philip Morris, entered into the Master Settlement Agreement (\u201cMSA\u201d) with 52 US states and territories and possessions. These cigarette manufacturers previously settled four other cases, brought by Mississippi, Florida, Texas and Minnesota, by separate agreements with each state (collectively with the MSA, the \u201cState Settlement Agreements\u201d, with Mississippi, Florida, Texas and Minnesota known collectively as the \u201cPreviously Settled States\u201d). ITG Brands (ITGB) is a party to the MSA and to the Mississippi, Minnesota, and Texas State Settlement Agreements. In connection with its 12 June 2015 acquisition of four cigarette brands (Winston, Salem, Kool and Maverick, referred to as the \u201cAcquired Brands\u201d) from Reynolds and Lorillard, ITGB has been involved in litigation and other disputes with the Previously Settled States, Philip Morris, and Reynolds in their state courts. Delaware ITGB is involved in litigation with Reynolds in the Delaware court that has jurisdiction over disputes under the Asset Purchase Agreement (APA) for the Acquired Brands. The current case in progress involves Reynolds\u2019 claim to indemnity for Florida settlement payments. The issue in this case is whether ITGB has satisfied its obligations to use \u201creasonable best efforts\u201d to join the settlement with Florida under the APA and whether regardless of that \u201creasonable best efforts\u201d requirement ITGB is required to indemnify Reynolds for amounts the Florida Court has required Reynolds to pay. On 30 September 2022, the trial court granted summary judgment to Reynolds and denied summary judgment to ITGB. It held that the Florida court\u2019s determination that ITGB did not assume payments under the Florida settlement unless it agreed to do so was not binding on the Delaware courts under principles of issue preclusion. It further held that as a matter of law the contract provisions were unambiguous and no evidence was required, and that ITGB had assumed and was required to indemnify Reynolds for Florida settlement payments. The Court did not determine the amount of Reynolds\u2019 damages but left that question open for further proceedings. On 2 October 2023 the Court issued an initial order on damages. The court rejected ITGB\u2019s claim that no damages could be assessed but declined to decide the amount of damages and other issues until after a trial. A trial was held on 8-9 July 2024 and a decision is now pending. After trial court proceedings on damages are completed, ITGB will have the right to appeal (including from the court\u2019s earlier determinations) to the Delaware Supreme Court. Reynolds\u2019 claim for indemnification in Delaware is limited at most to the amounts it has been required to pay under the Florida determination described above, plus interest and attorney\u2019s fees. ITGB continues to deny that indemnity is appropriate and intends to appeal that determination. ITGB further contends that Reynolds\u2019 damages should be substantially reduced by the amount by which Reynolds\u2019 settlement payments have been reduced through operation of the \u201cprofit adjustment\u201d by reason of ITGB not becoming a party to the Florida settlement as well as by reason of Reynolds\u2019 and third-parties\u2019 conduct. On 31 October 2023 Philip Morris USA moved to intervene in the damages determination on the theory that any profit adjustment gain belongs to Philip Morris, not ITGB or Reynolds. On 1 April 2024 the court denied intervention. Amounts at issue range up to US$ 250 million through 2023, plus future payments of up to US$ 27 million annually going forward plus interest of approximately US$ 68 million and attorney fees. Based on the current facts and circumstances it is currently unclear as to what level of damages will become payable in this case. MSA Previously Settled States Reduction The MSA contains a downward adjustment, called the Previously Settled States Reduction, which reduces aggregate payments made by Philip Morris, Reynolds, and ITGB by a specified percentage each year. The State of California, later joined by the remainder of the MSA states and by Philip Morris, challenged the application of that Reduction to ITGB for every year from 2016 forward, claiming that it cannot apply to ITGB since it is not making settlement payments to Florida, Minnesota, or Texas under their settlements. The Independent Auditor to the MSA, which initially addresses disputes related to payments, has rejected that challenge every year. It is possible that one of the parties making the challenge may seek to arbitrate the claim under the MSA. The PSS Reduction provides annual MSA payment reductions of c.US$ 65 million. Overall summary of liability position associated with USA state settlement agreements The Group\u2019s legal advice is that it has a strong position on pending claims related to the Acquired Brands and the Group therefore considers that no provision is required for these matters.
Product liability investigations
The Group is currently involved in a number of legal cases in which claimants are seeking damages for alleged smoking and health
related effects. In the opinion of the Group\u2019s lawyers, the Group has meritorious defences to these actions, all of which are being
vigorously contested. Although it is not possible to predict the outcome of the pending litigation, the Directors believe that the pending
actions will not have a material adverse effect upon the results of the operations, cash flow or financial condition of the Group. This
assessment of the probability of economic outflows at the year-end is a judgement which has been taken by management. Consequently,
the Group has not provided for any amounts in respect of these cases in the financial statements. There have been no material updates to
matters in any product liability investigations in the period since the 2023 Annual Report and Accounts.
Competition authority investigations
Spain
On 12 April 2019 the Spanish National Commission on Markets and Competition (CNMC) announced penalties against Philip Morris Spain,
Altadis, JT International Iberia and Logista. Altadis and Logista received fines of 11.4 million and 20.9 million, respectively, from the
CNMC. According to the decision, Altadis and Logista are alleged to have infringed competition law by participating in an exchange of
sales volume data between 2008 and February 2017. The CNMC considers that this conduct had the effect of restricting competition in the
Spanish tobacco market. Both companies believe that the arguments made by the CNMC that define this conduct as anti-competitive are
flawed. In June 2019, both Altadis and Logista commenced appeals to the CNMC\u2019s decision, and the fines imposed in the Spanish High
Court where they believe they will be successful, a decision supported by external legal counsel. In September 2019 Altadis and,
separately, Logista arranged bank guarantees for the full amount of the fines with the result that payment of the fines had been
suspended pending the outcome of the appeals. Therefore, provision for these amounts is not considered appropriate.
In both the Altadis and Logista appeals, the parties have concluded their submissions to the Court and a judgment is awaited in 2024/2025
In parallel to the main proceedings against the CNMC decision, on 28 February 2023, the Supreme Court annulled the unannounced
inspection carried out by the CNMC officials on Altadis' premises in February 2017 for lack of consent by Altadis. Therefore, all the
documents and evidence seized by the CNMC during Altadis' inspection have to be returned to the company and should be struck out
from the CNMC decision. It remains to be seen the impact of this Court decision on the main proceedings.
Other litigation
US Helms-Burton litigation
Imperial Brands PLC has been named as a defendant in a civil action in federal court in Miami, Florida under Title III of the Cuban Liberty
and Democratic Solidarity Act of 1996 (\u201cHelms-Burton\u201d) filed on 6 August 2020. Title III provides United States nationals with a cause of
action and a claim for treble damages against persons who have \u201ctrafficked\u201d in property expropriated by the Cuban government. Although
the filed claim is for unquantified damages, we understand the claim could potentially reach approximately US$ 365 million, based on the
claimants\u2019 claim to own 90% of the property, which they value at US$ 135 million (and then treble based on the claimants\u2019 interpretation of
the legislation). The claim is based on allegations that Imperial, through Corporaci\u00f3n Habanos S.A. (a joint venture between one of
Imperial\u2019s now former subsidiaries and the Cuban government), has \u201ctrafficked\u201d in a factory in Havana, Cuba that the Cuban government
confiscated from the claimants\u2019 ancestor in the early 1960s, by using the factory to manufacture, market, sell, and distribute
Habanos cigars.
At the time the claim was filed against Imperial and up until the conclusion of the Brexit \u201ctransition period\u201d on 31 December 2020, Imperial
was subject to an EU law known as the EU Blocking Statute (Regulation (EC) No. 2271/96), which conflicts with Helms-Burton, protected
Imperial against the impact of Title III, and impacted how Imperial might respond to the threatened litigation. The EU Blocking Statute
has been transposed into domestic law with only minimal changes. Accordingly, on 10 January 2021, Imperial submitted an application to
the UK Department for International Trade for authorisation from the Secretary of State for International Trade to defend the action or, at
a minimum, to file and litigate a motion to dismiss the action and this was granted on 8 February 2021.
Following a lengthy motion to dismiss proceedings, on 28 November 2023, a magistrate issued a recommended ruling, and recommended
dismissal of the case in its entirety as against Imperial on three separate grounds. On 8 April 2024, the judge adopted the magistrate\u2019s
recommendation that the case be dismissed for lack of personal jurisdiction and entered an order dismissing and closing the case.
The Claimants filed an appeal against the judge\u2019s dismissal of the claim on 7 May 2024. The claimants\u2019 appeal submissions were filed on
16 August 2024 and the Group response was submitted on 16 October 2024. The appellate court has not scheduled a hearing in the appeal,
however it is likely that a hearing will be held in spring 2025. A decision on the appeal will follow the hearing. No provision has been made
for potential liabilities related to this claim.
UK
In June 2020, the Group responded to a claimant law firm\u2019s allegation of human rights issues in the Malawian tobacco supply chain,
which included allegations relating to child and forced labour. In December 2020, a claim was filed in the English High Court against
Imperial Brands plc, Imperial Tobacco Limited and four of its subsidiaries (the Imperial Defendants) and two entities in the British
American Tobacco (the BAT Defendants) group by a group of Malawian tobacco farm workers. The Imperial Defendants have
acknowledged service and confirmed to the claimants that they intend to defend the claim in full.
The Imperial Defendants have not yet been required to file their defence. The deadline for the Imperial and BAT Defendants to do so has
been postponed pending other case management actions and will be determined at a subsequent case management hearing after the
completion of a matching exercise (which will seek to establish whether the claimants worked for farmers who grew tobacco purchased
by either Defendant group). That hearing is not likely to take place before 2025. The claim is unquantified and given the early stage of the
litigation a provision would not be appropriate.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-559": { "value": "
30. CONTINGENT LIABILITIES
The following summary includes updates to matters that have developed since the 2023 Annual Report and Accounts.
USA state settlement agreements
In November 1998, the major United States cigarette manufacturers, including Reynolds and Philip Morris, entered into the Master
Settlement Agreement (\u201cMSA\u201d) with 52 US states and territories and possessions. These cigarette manufacturers previously settled four
other cases, brought by Mississippi, Florida, Texas and Minnesota, by separate agreements with each state (collectively with the MSA, the
\u201cState Settlement Agreements\u201d, with Mississippi, Florida, Texas and Minnesota known collectively as the \u201cPreviously Settled States\u201d). ITG
Brands (ITGB) is a party to the MSA and to the Mississippi, Minnesota, and Texas State Settlement Agreements.
In connection with its 12 June 2015 acquisition of four cigarette brands (Winston, Salem, Kool and Maverick, referred to as the \u201cAcquired
Brands\u201d) from Reynolds and Lorillard, ITGB has been involved in litigation and other disputes with the Previously Settled States, Philip
Morris, and Reynolds in their state courts.
Delaware
ITGB is involved in litigation with Reynolds in the Delaware court that has jurisdiction over disputes under the Asset Purchase Agreement
(APA) for the Acquired Brands. The current case in progress involves Reynolds\u2019 claim to indemnity for Florida settlement payments. The
issue in this case is whether ITGB has satisfied its obligations to use \u201creasonable best efforts\u201d to join the settlement with Florida under the
APA and whether regardless of that \u201creasonable best efforts\u201d requirement ITGB is required to indemnify Reynolds for amounts the Florida
Court has required Reynolds to pay.
On 30 September 2022, the trial court granted summary judgment to Reynolds and denied summary judgment to ITGB. It held that the
Florida court\u2019s determination that ITGB did not assume payments under the Florida settlement unless it agreed to do so was not binding
on the Delaware courts under principles of issue preclusion. It further held that as a matter of law the contract provisions were
unambiguous and no evidence was required, and that ITGB had assumed and was required to indemnify Reynolds for Florida settlement
payments. The Court did not determine the amount of Reynolds\u2019 damages but left that question open for further proceedings.
On 2 October 2023 the Court issued an initial order on damages. The court rejected ITGB\u2019s claim that no damages could be assessed but
declined to decide the amount of damages and other issues until after a trial. A trial was held on 8-9 July 2024 and a decision is now
pending. After trial court proceedings on damages are completed, ITGB will have the right to appeal (including from the court\u2019s earlier
determinations) to the Delaware Supreme Court.
Reynolds\u2019 claim for indemnification in Delaware is limited at most to the amounts it has been required to pay under the Florida
determination described above, plus interest and attorney\u2019s fees. ITGB continues to deny that indemnity is appropriate and intends to
appeal that determination. ITGB further contends that Reynolds\u2019 damages should be substantially reduced by the amount by which
Reynolds\u2019 settlement payments have been reduced through operation of the \u201cprofit adjustment\u201d by reason of ITGB not becoming a party to
the Florida settlement as well as by reason of Reynolds\u2019 and third-parties\u2019 conduct. On 31 October 2023 Philip Morris USA moved to
intervene in the damages determination on the theory that any profit adjustment gain belongs to Philip Morris, not ITGB or Reynolds. On 1
April 2024 the court denied intervention.
Amounts at issue range up to US$ 250 million through 2023, plus future payments of up to US$ 27 million annually going forward plus
interest of approximately US$ 68 million and attorney fees. Based on the current facts and circumstances it is currently unclear as to
what level of damages will become payable in this case.
MSA Previously Settled States Reduction
The MSA contains a downward adjustment, called the Previously Settled States Reduction, which reduces aggregate payments made by
Philip Morris, Reynolds, and ITGB by a specified percentage each year. The State of California, later joined by the remainder of the MSA
states and by Philip Morris, challenged the application of that Reduction to ITGB for every year from 2016 forward, claiming that it cannot
apply to ITGB since it is not making settlement payments to Florida, Minnesota, or Texas under their settlements. The Independent
Auditor to the MSA, which initially addresses disputes related to payments, has rejected that challenge every year. It is possible that one
of the parties making the challenge may seek to arbitrate the claim under the MSA. The PSS Reduction provides annual MSA payment
reductions of c.US$ 65 million.
Overall summary of liability position associated with USA state settlement agreements
The Group\u2019s legal advice is that it has a strong position on pending claims related to the Acquired Brands and the Group therefore
considers that no provision is required for these matters.
Product liability investigations The Group is currently involved in a number of legal cases in which claimants are seeking damages for alleged smoking and health related effects. In the opinion of the Group\u2019s lawyers, the Group has meritorious defences to these actions, all of which are being vigorously contested. Although it is not possible to predict the outcome of the pending litigation, the Directors believe that the pending actions will not have a material adverse effect upon the results of the operations, cash flow or financial condition of the Group. This assessment of the probability of economic outflows at the year-end is a judgement which has been taken by management. Consequently, the Group has not provided for any amounts in respect of these cases in the financial statements. There have been no material updates to matters in any product liability investigations in the period since the 2023 Annual Report and Accounts. Competition authority investigations Spain On 12 April 2019 the Spanish National Commission on Markets and Competition (CNMC) announced penalties against Philip Morris Spain, Altadis, JT International Iberia and Logista. Altadis and Logista received fines of 11.4 million and 20.9 million, respectively, from the CNMC. According to the decision, Altadis and Logista are alleged to have infringed competition law by participating in an exchange of sales volume data between 2008 and February 2017. The CNMC considers that this conduct had the effect of restricting competition in the Spanish tobacco market. Both companies believe that the arguments made by the CNMC that define this conduct as anti-competitive are flawed. In June 2019, both Altadis and Logista commenced appeals to the CNMC\u2019s decision, and the fines imposed in the Spanish High Court where they believe they will be successful, a decision supported by external legal counsel. In September 2019 Altadis and, separately, Logista arranged bank guarantees for the full amount of the fines with the result that payment of the fines had been suspended pending the outcome of the appeals. Therefore, provision for these amounts is not considered appropriate. In both the Altadis and Logista appeals, the parties have concluded their submissions to the Court and a judgment is awaited in 2024/2025 In parallel to the main proceedings against the CNMC decision, on 28 February 2023, the Supreme Court annulled the unannounced inspection carried out by the CNMC officials on Altadis' premises in February 2017 for lack of consent by Altadis. Therefore, all the documents and evidence seized by the CNMC during Altadis' inspection have to be returned to the company and should be struck out from the CNMC decision. It remains to be seen the impact of this Court decision on the main proceedings. Other litigation US Helms-Burton litigation Imperial Brands PLC has been named as a defendant in a civil action in federal court in Miami, Florida under Title III of the Cuban Liberty and Democratic Solidarity Act of 1996 (\u201cHelms-Burton\u201d) filed on 6 August 2020. Title III provides United States nationals with a cause of action and a claim for treble damages against persons who have \u201ctrafficked\u201d in property expropriated by the Cuban government. Although the filed claim is for unquantified damages, we understand the claim could potentially reach approximately US$ 365 million, based on the claimants\u2019 claim to own 90% of the property, which they value at US$ 135 million (and then treble based on the claimants\u2019 interpretation of the legislation). The claim is based on allegations that Imperial, through Corporaci\u00f3n Habanos S.A. (a joint venture between one of Imperial\u2019s now former subsidiaries and the Cuban government), has \u201ctrafficked\u201d in a factory in Havana, Cuba that the Cuban government confiscated from the claimants\u2019 ancestor in the early 1960s, by using the factory to manufacture, market, sell, and distribute Habanos cigars. At the time the claim was filed against Imperial and up until the conclusion of the Brexit \u201ctransition period\u201d on 31 December 2020, Imperial was subject to an EU law known as the EU Blocking Statute (Regulation (EC) No. 2271/96), which conflicts with Helms-Burton, protected Imperial against the impact of Title III, and impacted how Imperial might respond to the threatened litigation. The EU Blocking Statute has been transposed into domestic law with only minimal changes. Accordingly, on 10 January 2021, Imperial submitted an application to the UK Department for International Trade for authorisation from the Secretary of State for International Trade to defend the action or, at a minimum, to file and litigate a motion to dismiss the action and this was granted on 8 February 2021. Following a lengthy motion to dismiss proceedings, on 28 November 2023, a magistrate issued a recommended ruling, and recommended dismissal of the case in its entirety as against Imperial on three separate grounds. On 8 April 2024, the judge adopted the magistrate\u2019s recommendation that the case be dismissed for lack of personal jurisdiction and entered an order dismissing and closing the case. The Claimants filed an appeal against the judge\u2019s dismissal of the claim on 7 May 2024. The claimants\u2019 appeal submissions were filed on 16 August 2024 and the Group response was submitted on 16 October 2024. The appellate court has not scheduled a hearing in the appeal, however it is likely that a hearing will be held in spring 2025. A decision on the appeal will follow the hearing. No provision has been made for potential liabilities related to this claim. UK In June 2020, the Group responded to a claimant law firm\u2019s allegation of human rights issues in the Malawian tobacco supply chain, which included allegations relating to child and forced labour. In December 2020, a claim was filed in the English High Court against Imperial Brands plc, Imperial Tobacco Limited and four of its subsidiaries (the Imperial Defendants) and two entities in the British American Tobacco (the BAT Defendants) group by a group of Malawian tobacco farm workers. The Imperial Defendants have acknowledged service and confirmed to the claimants that they intend to defend the claim in full. The Imperial Defendants have not yet been required to file their defence. The deadline for the Imperial and BAT Defendants to do so has been postponed pending other case management actions and will be determined at a subsequent case management hearing after the completion of a matching exercise (which will seek to establish whether the claimants worked for farmers who grew tobacco purchased by either Defendant group). That hearing is not likely to take place before 2025. The claim is unquantified and given the early stage of the litigation a provision would not be appropriate.", "dimensions": { "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-576": { "value": "32. RECONCILIATION OF CASH FLOW TO MOVEMENT IN NET DEBT
\u00a3 million
2024
2023
Decrease in cash and cash equivalents
(203)
(349)
Cash flows relating to derivative financial instruments
34
64
Repayment of lease liabilities
107
92
Increase in borrowings
(3,848)
(1,462)
Repayment of borrowings
3,948
1,518
Change in net debt resulting from cash flows
38
(137)
Other non-cash movements including revaluation of derivative financial instruments
(105)
108
Lease liabilities
(144)
(190)
Exchange movements
309
273
Movement in net debt during the year
98
54
Opening net debt
(8,438)
(8,492)
Closing net debt
(8,340)
(8,438)
The increase in borrowings and repayment of borrowings reflect the cash flow movements relating to borrowings outstanding at the start and at the end of each financial year; cash flows relating to short-term borrowings drawn down and repaid within the year are not included in this analysis.", "dimensions": { "concept": "ifrs-full:DisclosureOfCashFlowStatementExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-527": { "value": "
33. NON-CONTROLLING INTERESTS
Material non-controlling interests
Detailed below is the summarised financial information of Logista, being a subsidiary where the non-controlling interest of 49.99% is
considered material to the Group.
Summarised balance sheet
at 30 September
Euro million
2024
2023
Current assets
6,290
6,246
Current liabilities
(6,990)
(6,983)
Current net liabilities
(700)
(737)
Non-current assets
1,790
1,816
Non-current liabilities
(449)
(482)
Non-current net assets
1,341
1,334
Net assets
641
597
Summarised statement of comprehensive income
for the year ended 30 September
Euro million
2024
2023
Revenue
12,986
12,428
Profit for the year
308
274
Other comprehensive income
\u2013
3
Total comprehensive income
308
277
Summarised cash flow statement
for the year ended 30 September
Euro million
2024
2023
Cash flows from operating activities
397
308
Cash flows from investing activities
(51)
(83)
Cash flows from financing activities
(370)
(250)
Net decrease in cash and cash equivalents
(24)
(25)
", "dimensions": { "concept": "ifrs-full:DisclosureOfNoncontrollingInterestsExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-528": { "value": "34. POST BALANCE SHEET EVENTS Share buybacks On 5 October 2023 Imperial Brands PLC (\u2018the Company\u2019) announced a share buyback programme to repurchase up to \u00a31.1 billion of shares. This programme completed on 29 October 2024 with the Company having repurchased 4,010,463 million shares for a total consideration of \u00a390 million in the period from 1 October 2024 to 29 October 2024. On 8 October 2024 Imperial Brands PLC (\"the Company\") announced the start of a new ongoing share buyback programme, to initially repurchase up to \u00a31.25 billion of shares in the period to 29 October 2025. On 30 October 2024, in order to execute the first tranche of this buyback, the Company announced it had had entered into an irrevocable and non-discretionary arrangement with its broker Morgan Stanley & Co. International Plc to buy back up to \u00a3625 million of its shares commencing from 30 October 2024 and expected to end no later than 29 April 2025.", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-529": { "value": "
35. RELATED UNDERTAKINGS
In accordance with Section 409 of the Companies Act 2006 a full list of subsidiaries, partnerships, associates, and joint ventures, the
principal activity, the full registered address and the effective percentage of equity owned by Imperial Brands PLC, as at 30 September
2024, are provided in the entity financial statements of Imperial Brands PLC. There are no material related parties other than Group
companies.
", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-481": { "value": "Imperial Brands PLC", "dimensions": { "concept": "ifrs-full:NameOfParentEntity", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-6": { "value": "Imperial Brands PLC", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } }, "fact-482": { "value": "Imperial Brands PLC", "dimensions": { "concept": "ifrs-full:NameOfUltimateParentOfGroup", "language": "en", "entity": "scheme:549300DFVPOB67JL3A42", "period": "2023-10-01T00:00:00/2024-10-01T00:00:00" } } } }