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Analysis of Net Debt - Schedule of Effective Interest Rates on Period-End Fixed and Gross Debt (Detail) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Disclosure of components of net debt [abstract]    
Interest-bearing loans and borrowings nominal - fixed rate [1] $ (10,052) $ (11,822)
Derivative financial instruments - fixed rate 1,800 1,835
Net fixed rate debt including derivatives (8,252) (9,987)
Interest-bearing loans and borrowings nominal - floating rate [2] (317) (184)
Cumulative fair value hedge adjustment [1] (118) (209)
Derivative financial instruments - floating rate [1] (1,800) (1,835)
Derivative financial instruments (net) - fair value 122 188
Gross debt including derivative financial instruments, excluding lease liabilities (10,365) (12,027)
Lease liabilities - fixed rate (1,671) (1,635)
Gross debt including derivative financial instruments, including lease liabilities (12,036) (13,662)
Cash and cash equivalents - floating rate (note 23) 5,783 7,721
Group net debt excluding net debt reclassified as held for sale $ (6,253) $ (5,941)
Net fixed rate debt including derivatives 2.90% 2.90%
Gross debt including derivative financial instruments, excluding lease liabilities 2.80% 2.70%
Net fixed rate debt including derivatives 8 years 7 months 6 days 8 months 12 days
[1] Of the Group’s nominal fixed rate debt at 31 December 2021, $1,800 million (2020: $1,835 million) is hedged to a mix of USD LIBOR and EURIBOR floating rates using interest rate swaps.
[2] Floating rate debt comprises bank borrowings bearing interest at rates set in advance for periods ranging from overnight to less than one year largely by reference to inter-bank interest rates.