v3.26.1
BALANCE SHEET VALUES OF FINANCIAL ASSETS AND LIABILITIES BY MEASUREMENT CATEGORIES (Tables)
 3 Months Ended
Mar. 31, 2026
Disclosure of detailed information about financial instruments [abstract]  
Schedule of financial assets and liabilities by measurement categories
March 31, 2026December 31, 2025
In millionsCategoryCarrying amountFair valueLevel 1Level 2Level 3Carrying amountFair valueLevel 1Level 2Level 3
NON-CURRENT FINANCIAL ASSETS
Other non-current financial assetsAmortized cost$58.4 $— $— $— $— $54.4 $— $— $— $— 
Other non-current financial assetsFair value through OCI14.2 14.2 — — 14.2 14.3 14.3 — — 14.3 
Derivative financial instruments (3)
Foreign exchange derivatives - used in hedge accountingFair value through OCI0.4 0.4 — 0.4 — 0.5 0.5 — 0.5 — 
Cross Currency Swaps - used in hedge accountingFair value through profit or loss2.3 2.3 — 2.3 — 1.5 1.5 — 1.5 — 
CURRENT FINANCIAL ASSETS
Hold-to-collect accounts receivableAmortized cost600.6 — — — — 750.8 — — — — 
Available for sale receivablesFair value through OCI103.3 103.3 — — 103.3 58.5 58.5 — — 58.5 
Other non-interest yielding receivables (1)Amortized cost146.3 — — — — 134.3 — — — — 
Promissory notes (1)Amortized Cost4.5 4.5 — — 4.5 4.4 4.4 — — 4.4 
Derivative financial instruments (3)
Foreign exchange derivatives - used in hedge accountingFair value through OCI13.6 13.6 — 13.6 — 11.5 11.5 — 11.5 — 
Foreign exchange derivatives - not used in hedge accountingFair value through profit or loss9.9 9.9 — 9.9 — 10.8 10.8 — 10.8 — 
Cash and cash equivalentsAmortized cost683.7 — — — — 652.3 — — — — 
Total financial assets per level$— $26.2 $122.0 $— $24.3 $77.2 
March 31, 2026December 31, 2025
In millionsCategoryCarrying amountFair valueLevel 1Level 2Level 3Carrying amountFair valueLevel 1Level 2Level 3
NON-CURRENT FINANCIAL LIABILITIES
Non-current borrowingsAmortized cost$— $— $— $— $— $792.3 $835.8 $— $835.8 $— 
Non-current lease liabilitiesAmortized cost691.1 — — — — 660.9 — — — — 
Other non-current liabilitiesAmortized cost3.7 — — — — 4.0 — — — — 
Derivative financial instruments (3)
Foreign exchange derivatives - used in hedge accountingFair Value through OCI0.8 0.8 — 0.8 — 3.2 3.2 — 3.2 — 
CURRENT FINANCIAL LIABILITIES
Current other borrowingsAmortized cost144.9 — — — — 142.8 — — — — 
Current lease liabilitiesAmortized cost165.0 — — — — 157.1 — — — — 
Accounts payableAmortized cost672.6 — — — — 769.8 — — — — 
Other current liabilities (2)Amortized cost723.1 — — — — 841.0 — — — — 
Contingent consideration related to acquisitions (2)Fair value through profit or loss20.0 20.0 — — 20.0 20.0 20.0 — — 20.0 
Derivative financial instruments (3)
Foreign exchange derivatives - not used in hedge accountingFair value through profit or loss4.1 4.1 — 4.1 — 6.0 6.0 — 6.0 — 
Foreign exchange derivatives - used in hedge accountingFair Value through OCI41.0 41.0 — 41.0 — 62.2 62.2 — 62.2 — 
Total financial liabilities per level$— $45.9 $20.0 $— $907.2 $20.0 
Schedule of changes in Level 3 items in financial instruments
In millionsMarch 31,
2026		December 31,
2025
(1) Other non-interest yielding receivables
Prepaid expenses and other receivables$222.8 $200.0 
Less
Other tax receivables48.5 39.0 
Derivative financial instruments23.5 22.3 
Promissory notes4.5 4.4 
Total$146.3 $134.3 
(2) Other current liabilities
Other current liabilities$862.4 $1,002.8 
Less
Other tax liabilities74.2 73.6 
Derivative financial instruments45.1 68.2 
Contingent consideration related to acquisitions20.0 20.0 
Total$723.1 $841.0 
(3)The values of the derivatives as per the unaudited condensed consolidated interim statement of financial position have been recorded as they are disclosed in the Company’s unaudited condensed consolidated interim statement of financial position and fair value reserve, and therefore cannot be reconciled with their actual fair values.
The following table presents the changes in Level 3 items during the period:
In millionsUnlisted equity securitiesPromissory notesAvailable for sale receivablesContingent consideration related to acquisitions
Opening balance January 1, 2026$14.3 $4.4 $58.5 $20.0 
Additions— — 44.8 — 
Interest income recognized in the consolidated statement of income— 0.1 — — 
Exchange rate losses(0.1)— — — 
Closing balance March 31, 2026$14.2 $4.5 $103.3 $20.0 
Schedule of valuation techniques
The following table shows the valuation technique used in measuring Level 3 fair values for financial instruments in the unaudited condensed consolidated interim statement of financial position, as well as the significant unobservable inputs used.
TypeValuation techniqueSignificant unobservable input
Unlisted equity securitiesMarket comparison approach: fair value of unlisted equity securities is determined by reference to market multiples of comparable listed companies, adjusted by discount for lack of marketability.(i) Sales growth factor
(ii) Risk-adjusted discount rate
Promissory notesThe carrying amount approximates fair value due to the relatively short period to maturity of these instruments and low credit risk of counterparty.The carrying amount approximates fair value for short-term promissory notes due to the relatively short period to maturity of these instruments and low credit risk of counterparty.
Available for sale receivablesThe carrying amount approximates fair value due to the short-term maturity of these instruments and low credit risk of counterparty.The carrying amount approximates fair value due to the short-term maturity of these instruments and low credit risk of counterparty.
Contingent consideration related to acquisitionsThe carrying amount approximates fair value due to the short-term maturity of this liability.The carrying amount approximates fair value due to the short-term maturity of this liability.