v3.26.1
Condensed Group Cash Flow Statement - USD ($)
$ in Millions
 6 Months Ended
Jun. 27, 2026
Jun. 28, 2025
Cash flows from operating activities    
Profit before taxation $ 380 $ 362
Net interest expense 55 54
Depreciation, amortisation and impairment 300 273
Loss on disposal of property, plant and equipment and software 12 11
Share-based payments expense (equity-settled) 34 21
Share of results of associates (5) 1
Pension costs less cash paid 2 2
Increase in inventories (6)  
Increase in trade and other receivables (98) (49)
Decrease in trade and other payables and provisions (69) (107)
Cash generated from operations 605 568
Interest received 8 14
Interest paid (63) (75)
Income taxes paid (100) (111)
Net cash inflow from operating activities 450 396
Cash flows from investing activities    
Acquisitions, net of cash acquired (221) (8)
Capital expenditure (190) (139)
Proceeds from disposal of property, plant and equipment   12
Net cash used in investing activities (411) (135)
Cash flows from financing activities    
Purchase of own shares (116)  
Proceeds from own shares 3 1
Payment of capital element of lease liabilities (29) (25)
Proceeds from borrowings due within one year 23 27
Settlement of borrowings due within one year (87) (13)
Proceeds from borrowings due after one year 578  
Settlement of currency swaps (10) (5)
Equity dividends paid (205) (202)
Net cash inflow/(used) in financing activities 157 (217)
Net increase in cash and cash equivalents 196 44
Cash and cash equivalents at beginning of the period 553 617
Exchange adjustments 1 12
Cash and cash equivalents at end of the period [1] $ 750 $ 673
[1] Cash and cash equivalents at the end of the period is net of overdrafts of $4m (28 June 2025: $3m).