Deferred Income Tax (Tables)

12 Months Ended

Dec. 31, 2021

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Summary of Deductible and Taxable Temporary Differences in Deferred Tax

The deductible and taxable temporary differences in respect of which deferred tax has been recognised are as follows:

	2021 $m		2020 $m
Reported in balance sheet after offset
Deferred tax liabilities		2,734		2,613
Deferred tax assets		(109)		(129)
Net deferred income tax liability		2,625		2,484
Deferred income tax assets (deductible temporary differences)
Deficits on Group retirement benefit schemes		98		128
Revaluation of derivative financial instruments to fair value		4		8
Tax loss carryforwards (primarily income tax losses)		93		176
Share-based payment expense		54		41
Provisions for liabilities and working capital-related items		446		402
Lease liabilities		335		330
Other deductible temporary differences		87		59
Total		1,117		1,144

Summary of Deferred Income Tax Liabilities (Taxable Temporary Differences)

Deferred income tax liabilities (taxable temporary differences)
Taxable temporary differences principally attributable to accelerated tax depreciation and fair value adjustments arising on acquisition (i)	3,218	3,123
Leased right-of-use assets	314	315
Investment in subsidiaries	164	161
Surpluses on Group retirement benefit schemes	9	-
Revaluation of derivative financial instruments to fair value	15	12
Rolled-over capital gains	22	17
Total	3,742	3,628

Summary of Movement in Net Deferred Income Tax Liability

Movement in net deferred income tax liability
At 1 January	2,484	2,551
Translation adjustment	(34)	41
Net expense/(income) for the year	103	(95)
Arising on acquisition (note 30)	37	-
Disposals	1	(3)
Movement in deferred tax recognised in the Consolidated Statement of Comprehensive Income	44	(11)
Movement in deferred tax recognised in the Consolidated Statement of Changes in Equity	(10)	1
At 31 December	2,625	2,484

(i) Fair value adjustments arising on acquisition principally relate to property, plant and equipment.