Cash and cash equivalents

12 Months Ended

Dec. 31, 2018

Subclassifications of assets, liabilities and equities [abstract]



		$ million
	2018	2017
Cash	6,148	4,592
Term bank deposits	13,105	17,324
Cash equivalents (excluding term bank deposits)	3,215	3,670
	22,468	25,586

Cash and cash equivalents comprise cash in hand; current balances with banks and similar institutions; term deposits of three months or less with banks and similar institutions; money market funds and commercial paper. The carrying amounts of cash and term bank deposits approximate their fair values. Substantially all of the other cash equivalents are categorized within level 1 of the fair value hierarchy.

Cash and cash equivalents at 31 December 2018 includes $1,350 million (2017 $1,488 million) that is restricted. The restricted cash balances include amounts required to cover initial margin on trading exchanges and certain cash balances which are subject to exchange controls.

The group holds $4,693 million (2017 $3,638 million) of cash and cash equivalents outside the UK and it is not expected that any significant tax will arise on repatriation.