Other investments

12 Months Ended

Jun. 30, 2025

Disclosure Of Noncurrent Investments Other Than Investments Accounted For Using Equity Method [Abstract]

Other investments

13. Other investments

Accounting policies

Other investments are equity investments that are not

classified as investments in associates or joint arrangements nor

investments in subsidiaries. They are included in non-current

assets. Subsequent to initial measurement, other investments

are stated at fair value. Gains and losses arising from the

changes in fair value are recognised in the income statement or

in other comprehensive income. Accumulated gains and losses

included in other comprehensive income are not recycled to the

income statement. Dividends from other investments are

recognised in the consolidated income statement.

Loans receivable are non-derivative financial assets that are not

classified as equity investments. They are subsequently

measured either at amortised cost using the effective interest

method less allowance for impairment or at fair value with gains

and losses arising from changes in fair value recognised in the

income statement or in other comprehensive income that are

recycled to the income statement on the de-recognition of the

asset. Allowances for expected credit losses are made based on

the risk of non-payment taking into account ageing, previous

experience, economic conditions and forward-looking data. Such

allowances are measured as either 12-months expected credit

losses or lifetime expected credit losses depending on changes in

the credit quality of the counterparty.

	Loans $ million	Other investment s $ million	Total $ million
Cost less allowances or fair value
At 30 June 2023	43	28	71
Additions	18	9	27
Repayments and disposals	(17)	—	(17)
Fair value adjustment	—	(3)	(3)
Capitalised interest	5	—	5
Impairment reversed/(charged) during the year	14	(3)	11
At 30 June 2024	63	31	94
Exchange differences	1	2	3
Additions	11	6	17
Repayments and disposals	(6)	—	(6)
Capitalised interest	5	—	5
Impairment charged during the year	(63)	(9)	(72)
Provision movement	1	—	1
Transfer to associates/fair value adjustment	(1)	(2)	(3)
At 30 June 2025	11	28	39

Following a strategic review in March 2025, Diageo decided it would no

longer be bringing any new brands into the Distill Ventures programme

and exit several businesses, resulting in an impairment charge of

$72 million in exceptional operating expenses for the year ended

30 June 2025. At 30 June 2025, loans comprise $11 million (2024 – $6

million; 2023 – $7 million) of loans to customers and other third parties,

after allowances of $137 million (2024 – $138 million; 2023 – $152

million), and $nil (2024 – $57 million; 2023 – $36 million) of loans to

associates.