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Equity (Tables)
 12 Months Ended
Jun. 30, 2019
Disclosure of reserves within equity [abstract]  
Schedule of allotted and fully paid share capital
(a) Allotted and fully paid share capital – ordinary shares of 28101⁄108 pence each
 
 
Number of shares
million

 
Nominal value
£ million

At 30 June 2019
 
2,601

 
753

At 30 June 2018
 
2,695

 
780

At 30 June 2017
 
2,754

 
797
Schedule of movement in hedging and exchange reserve
(b) Hedging and exchange reserve
 
 
Hedging
reserve
£ million

 
Exchange
reserve
£ million

 
Total
£ million

At 30 June 2016
 
(90
)
 
(431
)
 
(521
)
Other comprehensive income
 
69

 
(1
)
 
68

At 30 June 2017
 
(21
)
 
(432
)
 
(453
)
Other comprehensive income
 
(44
)
 
(530
)
 
(574
)
Adoption of IFRS 9 by associate
 
(3
)
 
—

 
(3
)
At 30 June 2018
 
(68
)
 
(962
)
 
(1,030
)
Other comprehensive income
 
31

 
181

 
212

At 30 June 2019
 
(37
)
 
(781
)
 
(818
)
Schedule of movements in own shares
Movements in own shares
 
 
Number
of shares
million

 
Purchase
consideration
£ million

At 30 June 2016
 
244

 
2,189

Share trust arrangements
 
(3
)
 
(32
)
Shares purchased employee share plans
 
5

 
101

Shares used to satisfy options
 
(5
)
 
(82
)
At 30 June 2017
 
241

 
2,176

Share trust arrangements
 
(1
)
 
(9
)
Shares purchased employee share plans
 
2

 
66

Shares used to satisfy options
 
(4
)
 
(89
)
Shares purchased - share buyback programme
 
59

 
1,507

Shares cancelled
 
(59
)
 
(1,507
)
At 30 June 2018
 
238

 
2,144

Share trust arrangements
 
(1
)
 
(14
)
Shares used to satisfy options
 
(5
)
 
(104
)
Shares purchased - share buyback programme
 
95

 
2,775

Shares cancelled
 
(95
)
 
(2,775
)
At 30 June 2019
 
232

 
2,026
Schedule of the monthly breakdown of shares purchased and the average price paid per share
The monthly breakdown of all shares purchased and the average price paid per share (excluding expenses) for the year ended 30 June 2019 were as follows:
Calendar month
 
Number of shares
purchased under
share buyback
programme

 
Total number of
shares purchased

 
Average price paid pence

 
Authorised purchases unutilised at month end

August 2018
 
5,500,453

 
5,500,453

 
2775

 
240,617,853

September 2018
 
8,965,815

 
8,965,815

 
2679

 
231,652,038

October 2018
 
11,731,281

 
11,731,281

 
2660

 
219,920,757

November 2018
 
11,421,897

 
11,421,897

 
2747

 
208,498,860

December 2018
 
8,859,766

 
8,859,766

 
2822

 
199,639,094

January 2019
 
1,344,885

 
1,344,885

 
2734

 
198,294,209

February 2019
 
96,000

 
96,000

 
2835

 
198,198,209

March 2019
 
22,646,246

 
22,646,246

 
3033

 
175,551,963

April 2019
 
11,631,712

 
11,631,712

 
3131

 
163,920,251

May 2019
 
8,810,782

 
8,810,782

 
3247

 
155,109,469

June 2019
 
3,700,028

 
3,700,028

 
3343

 
151,409,441

Total
 
94,708,865

 
94,708,865

 
2924

 
151,409,441
Schedule of dividends
 
 
2019
£ million

 
2018
£ million

 
2017
£ million

Amounts recognised as distributions to equity shareholders in the year
 
 
 
 
 
 
Final dividend for the year ended 30 June 2018
 
 
 
 
 
 
40.4 pence per share (2017 – 38.5 pence; 2016 – 36.6 pence)
 
993

 
968

 
920

Interim dividend for the year ended 30 June 2019
 
 
 
 
 
 
26.1 pence per share (2018 – 24.9 pence; 2017 – 23.7 pence)
 
630

 
613

 
595

 
 
1,623

 
1,581

 
1,515
Schedule of amounts attributable to non controlling interests
Summarised financial information for USL, Ketel One and others, after fair value adjustments on acquisition, and the amounts attributable to non-controlling interests are as follows:
 
 
2019
 
 
2018

 
2017

 
 
USL
£ million

 
Ketel One
and others
£ million

 
Total
£ million

 
Total
£ million

 
Total
£ million

Income statement
 
 
 
 
 
 
 
 
 
 
Sales
 
3,229

 
2,117

 
5,346

 
4,926

 
4,844

Net sales
 
1,016

 
1,640

 
2,656

 
2,431

 
2,412

Profit for the year
 
78

 
305

 
383

 
244

 
229

Other comprehensive income/(loss)(i)
 
59

 
78

 
137

 
(163
)
 
116

Total comprehensive income
 
137

 
383

 
520

 
81

 
345

Attributable to non-controlling interests
 
61

 
173

 
234

 
53

 
148

Balance sheet
 
 
 
 
 
 
 
 
 
 
Non-current assets(ii)
 
2,315

 
2,998

 
5,313

 
4,973

 
4,975

Current assets
 
587

 
882

 
1,469

 
1,384

 
1,222

Non-current liabilities
 
(473
)
 
(1,053
)
 
(1,526
)
 
(1,425
)
 
(1,327
)
Current liabilities
 
(496
)
 
(708
)
 
(1,204
)
 
(1,183
)
 
(1,199
)
Net assets
 
1,933

 
2,119

 
4,052

 
3,749

 
3,671

Attributable to non-controlling interests
 
849

 
946

 
1,795

 
1,765

 
1,715

Cash flow
 
 
 
 
 
 
 
 
 
 
Net cash inflow from operating activities
 
109

 
433

 
542

 
334

 
355

Net cash (outflow) from investing activities
 
(18
)
 
(139
)
 
(157
)
 
(136
)
 
(86
)
Net cash (outflow) from financing activities
 
(97
)
 
(169
)
 
(266
)
 
(164
)
 
(172
)
Net increase/(decrease) in cash and cash equivalents
 
(6
)
 
125

 
119

 
34

 
97

Exchange differences
 
1

 
2

 
3

 
(2
)
 
(3
)
Dividends payable to non-controlling interests
 
—

 
(114
)
 
(114
)
 
(101
)
 
(83
)
(i)
Other comprehensive income is principally in respect of exchange on translating the subsidiaries to sterling.
(ii)
Ketel One includes the global distribution rights to distribute Ketel One vodka products throughout the world. The carrying value of the distribution rights at 30 June 2019 was £1,418 million (2018 – £1,363 million; 2017 – £1,385 million).

(1) On 17 August 2018 Diageo acquired 20.29% of the share capital of Sichuan Shuijingfang Company Limited (SJF) which was already controlled and therefore consolidated prior to the transaction. On 9 April 2019 Diageo completed the purchase of a further 3.14% of SJF’s share capital. These transactions took Diageo’s shareholding in SJF from 39.71% to 63.14%.
Schedule of employee share compensation
The annual fair value charge in respect of the equity settled plans for the three years ended 30 June 2019 is as follows:
 
 
2019
£ million

 
2018
£ million

 
2017
£ million

Executive share award plans
 
41

 
33

 
28

Executive share option plans
 
4

 
3

 
3

Savings plans
 
4

 
3

 
3

 
 
49

 
39

 
34
Schedule of fair value of each share award used the Monte Carlo pricing model and weighted average assumptions
For the three years ended 30 June 2019, the calculation of the fair value of each share award used the Monte Carlo pricing model and the following assumptions:
 
 
2019
 
2018
 
2017
Risk free interest rate
 
0.8%
 
0.3%
 
0.1%
Expected life of the awards
 
37 months
 
37 months
 
36 months
Dividend yield
 
2.4%
 
2.6%
 
3.0%
Weighted average share price
 
2736 p
 
2573 p
 
2130 p
Weighted average fair value of awards granted in the year
 
1941 p
 
1761 p
 
1427 p
Number of awards granted in the year
 
2.5 million
 
2.3 million
 
3.6 million
Fair value of all awards granted in the year
 
£48 million
 
£41 million
 
£51 million
Schedule of transactions on executive share award plans
Transactions on the executive share award plans for the three years ended 30 June 2019 were as follows:
 
 
2019
Number of awards
million

 
2018
Number of awards
million

 
2017
Number of awards
million

Balance outstanding at 1 July
 
7.8

 
7.9

 
7.2

Granted
 
2.5

 
2.3

 
3.6

Exercised/awarded
 
(2.1
)
 
(0.7
)
 
(1.3
)
Forfeited/expired
 
(1.2
)
 
(1.7
)
 
(1.6
)
Balance outstanding at 30 June
 
7.0

 
7.8

 
7.9