Ferguson (FERG) 20-F 28 Sep 21 2021 FY Annual report (foreign) Financial data

Cover

Cover	12 Months Ended
	Jul. 31, 2021shares
Document Information [Line Items]
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Document Period End Date	Jul. 31, 2021
Current Fiscal Year End Date	--07-31
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	001-40066
Entity Registrant Name	Ferguson plc
Entity Incorporation, State or Country Code	Y9
Entity Address, Address Line One	1020 Eskdale Road
Entity Address, Address Line Two	Winnersh Triangle
Entity Address, City or Town	Wokingham
Entity Address, Postal Zip Code	RG41 5TS
Entity Address, Country	GB
Title of 12(b) Security	Ordinary Shares of 10 pence
Trading Symbol	FERG
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding	222,308,366
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Document Accounting Standard	International Financial Reporting Standards
Entity Shell Company	false
Entity Central Index Key	0001832433
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Amendment Flag	false
Business Contact
Document Information [Line Items]
Entity Address, Address Line One	1020 Eskdale Road
Entity Address, Address Line Two	Winnersh Triangle
Entity Address, City or Town	Wokingham
Entity Address, Postal Zip Code	RG41 5TS
Entity Address, Country	GB
Contact Personnel Name	Kevin Murphy
City Area Code	118
Local Phone Number	927 3800
Contact Personnel Email Address	investor@fergusonplc.com

Consolidated Group income state

Consolidated Group income statement - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	[1]	Jul. 31, 2019	[1],[2]
Profit or loss [abstract]
Revenue	$ 22,792	$ 19,940		$ 19,729
Cost of sales	(15,812)	(13,957)		(13,822)
Gross profit	6,980	5,983		5,907
Operating costs	(4,946)	(4,534)		(4,528)
Operating profit	2,034	1,449		1,379
Finance costs	(145)	(147)		(86)
Finance income	1	7		12
Share of profit/(loss) after tax of associates	1	(2)		2
Gain on disposal of interests in associates and other investments	0	7		3
Impairment of interests in associates	0	(22)		(9)
Profit before tax	1,891	1,292		1,301
Tax	(241)	(317)		(259)
Profit from continuing operations	1,650	975		1,042
(Loss) profit from discontinued operations	(142)	(14)		66
Profit for the year attributable to shareholders of the Company	$ 1,508	$ 961		$ 1,108
Earnings per share [abstract]
Basic earnings per share, Continuing operations and discontinued operations (in US cents per share)	$ 6.747	$ 4.275		$ 4.813
Diluted earnings per share, Continuing operations and discontinued operations (in US cents per share)	6.705	4.235		4.778
Basic earnings per share, Continuing operations only (in US cents per share)	7.383	4.337		4.526
Diluted earnings per share, Continuing operations only (in US cents per share)	$ 7.337	$ 4.297		$ 4.493
[1]	The Group disposed of its shares in Wolseley UK Limited (“UK business”) on January 29, 2021. The UK results have been reclassified to discontinued operations and the prior year comparative results have been restated throughout the consolidated financial statements. See note 6 for further details.
[2]	The Group adopted IFRS 16 “Leases” on August 1, 2019 applying the modified retrospective transition method. As a result, comparatives have not been restated and are shown on an IAS 17 “Leases” basis. See note 1 for further details.

Consolidated Group statement of

Consolidated Group statement of comprehensive income - USD ($) $ in Millions		12 Months Ended
		Jul. 31, 2021	Jul. 31, 2020		Jul. 31, 2019
Statement of comprehensive income [abstract]
Profit for the year		$ 1,508	$ 961	[1]	$ 1,108	[1],[2]
Items that may be reclassified subsequently to profit or loss:
Exchange gain/(loss) on translation of overseas operations	[3]	75	57		(86)
Exchange (loss)/gain on translation of borrowings and derivatives designated as hedges of overseas operations	[3]	(31)	(31)		36
Cumulative currency translation differences on disposals	[3]	135	9		1
Cumulative currency translation differences on disposal of interests in associates	[3]	0	0		7
Items that will not be reclassified subsequently to profit or loss:
Remeasurement of retirement benefit plans	[4]	107	(235)		(36)
Tax credit/(charge) on items that will not be reclassified to profit or loss	[4]	(19)	44		6
Other comprehensive income/(expense) for the year		267	(156)		(72)
Total comprehensive income for the year		1,775	805		1,036
Total comprehensive income attributable to:
Continuing operations		1,770	789		1,040
Discontinued operations		$ 5	$ 16		$ (4)
[1]	The Group disposed of its shares in Wolseley UK Limited (“UK business”) on January 29, 2021. The UK results have been reclassified to discontinued operations and the prior year comparative results have been restated throughout the consolidated financial statements. See note 6 for further details.
[2]	The Group adopted IFRS 16 “Leases” on August 1, 2019 applying the modified retrospective transition method. As a result, comparatives have not been restated and are shown on an IAS 17 “Leases” basis. See note 1 for further details.
[3]	Impacting the translation reserve.
[4]	Impacting retained earnings.

Consolidated Group statement _2

Consolidated Group statement of changes in equity - USD ($) $ in Millions	Total		Adjustment on adoption of IFRS 16	After adjustment	share capital	share capitalAfter adjustment	Share premium	Share premiumAfter adjustment	Translation reserve	Translation reserveAfter adjustment	Treasury shares	Treasury sharesAfter adjustment	Own shares	Own sharesAfter adjustment	Retained earnings	Retained earningsAdjustment on adoption of IFRS 16	Retained earningsAfter adjustment	Non- controlling interest
Beginning balance at Jul. 31, 2018	$ 4,057				$ 45		$ 67		$ (556)		$ (1,380)		$ (90)		$ 5,972			$ (1)
Profit for the year	1,108	[1],[2]													1,108
Other comprehensive expense	(72)								(42)						(30)
Total comprehensive income for the year	1,036								(42)						1,078
Cancellation of Treasury shares	0				(4)						1,369				(1,365)
Group reconstruction	0				(11)		16,083								(16,072)
Capital reduction	0						(16,150)								16,150
Issue of share capital	9						9
Purchase of own shares by Employee Benefit Trusts	38												38
Issue of own shares by Employee Benefit Trusts	0												26		(26)
Credit to equity for share-based payments	34														34
Tax relating to share-based payments	6														6
Adjustment arising from change in non-controlling interest	1																	1
Purchase of Treasury shares	(309)										(309)
Disposal of Treasury shares	3										15				(12)
Dividends paid	(449)														(449)
Ending balance at Jul. 31, 2019	4,350		$ (187)	$ 4,163	30	$ 30	9	$ 9	(598)	$ (598)	(305)	$ (305)	(102)	$ (102)	5,316	$ (187)	$ 5,129
Beginning balance at Jul. 30, 2019											(146)
Purchase of Treasury shares											(159)
Ending balance at Jul. 31, 2019	4,350		$ (187)	$ 4,163	30	$ 30	9	$ 9	(598)	$ (598)	(305)	$ (305)	(102)	$ (102)	5,316	$ (187)	$ 5,129
Profit for the year	961	[2]													961
Other comprehensive expense	(156)								35						(191)
Total comprehensive income for the year	805								35						770
Purchase of own shares by Employee Benefit Trusts	26												26
Issue of own shares by Employee Benefit Trusts	0												40		(40)
Credit to equity for share-based payments	26														26
Tax relating to share-based payments	11														11
Purchase of Treasury shares	(292)										(292)
Disposal of Treasury shares	11										27				(16)
Dividends paid	(327)														(327)
Ending balance at Jul. 31, 2020	4,371				30		9		(563)		(570)		(88)		5,553			0
Beginning balance at Jul. 30, 2020											(570)
Purchase of Treasury shares											0
Ending balance at Jul. 31, 2020	4,371				30		9		(563)		(570)		(88)		5,553			0
Profit for the year	1,508														1,508
Other comprehensive expense	267								179						88
Total comprehensive income for the year	1,775								179						1,596
Purchase of own shares by Employee Benefit Trusts													0
Reclassification of exchange on translation of overseas operations	0								(14)						14
Issue of own shares by Employee Benefit Trusts	0												30		(30)
Credit to equity for share-based payments	71														71
Tax relating to share-based payments	9														9
Purchase of Treasury shares	(400)										(400)
Disposal of Treasury shares	18										39				(21)
Dividends paid	(1,034)														(1,034)
Ending balance at Jul. 31, 2021	$ 4,810				$ 30		$ 9		$ (398)		$ (931)		$ (58)		$ 6,158			$ 0
[1]	The Group adopted IFRS 16 “Leases” on August 1, 2019 applying the modified retrospective transition method. As a result, comparatives have not been restated and are shown on an IAS 17 “Leases” basis. See note 1 for further details.
[2]	The Group disposed of its shares in Wolseley UK Limited (“UK business”) on January 29, 2021. The UK results have been reclassified to discontinued operations and the prior year comparative results have been restated throughout the consolidated financial statements. See note 6 for further details.

Consolidated Group balance shee

Consolidated Group balance sheet - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020
Non-current assets
Intangible assets: goodwill	$ 1,757	$ 1,721
Intangible assets: other	546	521
Right of use assets	895	1,111
Property, plant and equipment	1,305	1,389
Interests in associates	5	4
Other financial assets	18	12
Retirement benefit assets	108	0
Deferred tax assets	303	216
Trade and other receivables	428	377
Derivative financial assets	16	28
Non-current assets	5,381	5,379
Current assets
Inventories	3,426	2,880
Trade and other receivables	3,331	3,042
Current tax receivable	4	0
Other financial assets	0	9
Derivative financial assets	5	11
Cash and cash equivalents	1,335	2,115
Assets held for sale	3	20
Current assets	8,104	8,077
Total assets	13,485	13,456
Current liabilities
Trade and other payables	4,022	3,591
Current tax payable	303	293
Borrowings	183	531
Lease liabilities	263	281
Provisions	72	53
Current liabilities	4,843	4,749
Non-current liabilities
Trade and other payables	342	338
Borrowings	2,528	2,635
Lease liabilities	827	1,074
Deferred tax liabilities	0	26
Provisions	123	202
Retirement benefit obligations	12	61
Non-current liabilities	3,832	4,336
Total liabilities	8,675	9,085
Net assets	4,810	4,371
Equity
Share capital	30	30
Share premium	9	9
Reserves	4,771	4,332
Equity attributable to shareholders of the Company	$ 4,810	$ 4,371

Consolidated Group cash flow st

Consolidated Group cash flow statement - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Cash flows from operating activities
Cash generated from operations	$ 2,093	$ 2,252	$ 1,609
Interest received	12	8	13
Interest paid	(160)	(167)	(90)
Tax paid	(404)	(225)	(242)
Net cash generated from operating activities	1,541	1,868	1,290
Cash flows from investing activities
Acquisition of businesses (net of cash acquired)	(335)	(351)	(657)
Disposals of businesses (net of cash disposed of)	380	7	201
Purchases of property, plant and equipment	(174)	(215)	(382)
Net proceeds from disposal of property, plant and equipment, assets held for sale and right of use assets	35	13	84
Purchases of intangible assets	(72)	(87)	(36)
Acquisition of associates and other investments	(6)	(5)	(11)
Disposal of interests in associates and other investments	0	32	18
Net cash used in investing activities	(172)	(606)	(783)
Cash flows from financing activities
Proceeds from the issue of shares	0	0	9
Purchase of own shares by Employee Benefit Trusts	0	(26)	(38)
Purchase of Treasury shares	(400)	(451)	(150)
Proceeds from the sale of Treasury shares	18	11	3
Proceeds from loans and derivatives	4	1,169	757
Repayments of loans	(375)	(566)	(2)
Lease liability capital payments	(296)	(295)	0
Finance lease capital payments	0	0	(3)
Dividends paid to shareholders	(1,036)	(327)	(445)
Net cash (used in)/generated from financing activities	(2,085)	(485)	131
Net cash (used)/generated	(716)	777	638
Effects of exchange rate changes	1	4	(10)
Cash, cash equivalents and bank overdrafts at the beginning of the year	1,867	1,086	458
Cash, cash equivalents and bank overdrafts at the end of the year	$ 1,152	$ 1,867	$ 1,086

Accounting policies

Accounting policies	12 Months Ended
	Jul. 31, 2021
Accounting Policies [Abstract]
Accounting policies	Accounting policies Basis of preparation The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as adopted by the European Union, including interpretations issued by the International Accounting Standards Board (“IASB”) and its committees. Ferguson plc is a public company limited by shares incorporated in Jersey under the Companies (Jersey) Law 1991 (as amended) and is headquartered in the UK. It operates as the ultimate parent company of the Group. Its registered office is 13 Castle Street, St Helier, Jersey, JE1 1ES, Channel Islands. The consolidated financial statements have been prepared on a going concern basis and under the historical cost convention as modified by the revaluation of financial assets and liabilities measured at fair value. The Group disposed of its UK business on January 29, 2021. The results of the UK business have been reclassified to discontinued operations and the prior year comparative results have been restated throughout the consolidated financial statements. See Note 6 or further details. Choices permitted by IFRS The Group has elected to apply hedge accounting to some of its financial instruments. Accounting developments and changes The following other standards and amendments to existing standards became effective for the year ended July 31, 2021 and have not had a material impact on the Group’s consolidated financial statements: • Amendments to References to the Conceptual Framework in IFRS Standards; • Amendments to IAS 1 and IAS 8 – Definition of Material; • Amendments to IFRS 3 – Definition of a Business; • Amendments to IFRS 9, IAS 39 and IFRS 7 – Interest Rate Benchmark Reform (Phase 1); and • Amendments to IFRS 16 – COVID-19-Related Rent Concessions Other standards and amendments to existing standards that have been issued but not yet adopted are not expected to have a material impact on the Group’s consolidated financial statements. Critical accounting judgments Impact of the COVID-19 pandemic Management has exercised judgment in evaluating the impact of the COVID-19 pandemic on the consolidated financial statements. In light of the Group’s strong performance during the year, management concluded there was no material negative impact of the COVID-19 pandemic on the financial statements and no new sources of estimation uncertainty. Leases Property leases entered into by the Group typically include extension and termination options to provide operational flexibility to the Group. Management applied significant judgment in determining whether these options were reasonably certain to be exercised when determining the lease term on adoption of IFRS 16. In making this judgment management considered the remaining lease term, future business plans and other relevant economic factors. Specifically in respect to property leases, which represent the majority of the lease liability, a renewal option was determined to be reasonably certain to be exercised when a lease expired within the Group’s three-year strategic planning horizon. Pensions and other post-retirement benefits The Group operates defined benefit pension plans in Canada and the UK that are accounted for using methods that rely on actuarial assumptions to estimate costs and liabilities for inclusion in the consolidated financial statements. The discount rate used is set with reference to the yield at the valuation date on high-quality corporate bonds that have a maturity approximating to the terms of the pension obligations. Significant judgment is required when selecting the bonds to include. The most significant criteria considered for selection of the bonds include the issue size of the corporate bonds, the quality of the bonds and the identification of outliers which are excluded. Sources of estimation uncertainty In applying the Group’s accounting policies, various transactions and balances are valued using estimates or assumptions. Should these estimates or assumptions prove incorrect there may be an impact on the following year’s financial statements. Management believes that the estimates and assumptions that have been applied would not give rise to a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. Accounting policies A summary of the principal accounting policies applied by the Group in the preparation of the consolidated financial statements is set out below. The accounting policies have been applied consistently throughout the current and preceding year. Basis of consolidation The consolidated financial information includes the results of the parent company and entities controlled by the Company (its subsidiary undertakings and controlling interests) and its share of profit/(loss) after tax of its associates using the equity method of accounting. The financial performance of business operations is included in profit from continuing operations from the date of acquisition and up to the date of classification as a discontinued operation or sale. Intra-group transactions and balances and any unrealized gains and losses arising from intra-group transactions are eliminated on consolidation. Discontinued operations When the Group has disposed of, or classified as held for sale, a business component that represents a separate major line of business or geographical area of operations, it classifies such operations as discontinued in accordance with IFRS 5 “Non-current Assets Held for Sale and Discontinued Operations”. The post-tax profit or loss of the discontinued operations are shown as a single line on the face of the income statement separate from the other results of the Group. Foreign currencies Items included in the financial statements of the parent and of each of the Group’s subsidiary undertakings are measured using the currency of the primary economic environment in which the subsidiary undertaking operates (the “functional currency”). The consolidated financial statements are presented in U.S. dollars, which is the presentational currency of the Group. The trading results of overseas subsidiary undertakings are translated into U.S. dollars using the average rates of exchange ruling during the relevant financial period. The balance sheets of overseas subsidiary undertakings are translated into U.S. dollars at the rates of exchange ruling at the year-end. Exchange differences arising on the translation into U.S. dollars of the net assets of these subsidiary undertakings are recognized in other comprehensive income and accumulated in the translation reserve. At July 31, 2021, the translation reserve comprised $213 million in relation to pound sterling entities, $181 million in relation to U.S. dollar entities and $4 million in relation to entities denominated in other currencies. In the event that a subsidiary undertaking which has a non-U.S. dollar functional currency is disposed of, the gain or loss on disposal recognized in the income statement is determined after taking into account the cumulative currency translation differences that are attributable to the subsidiary undertaking concerned. Foreign currency transactions entered into during the year are translated into the functional currency of the entity at the rates of exchange ruling on the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are retranslated at the rate of exchange ruling at the balance sheet date. All currency translation differences are taken to the income statement. Except as noted above, changes in the fair value of derivative financial instruments, entered into to hedge foreign currency net assets and that satisfy the hedging conditions of IFRS 9 “Financial Instruments” are recognized in other comprehensive income and the translation reserve (see the separate accounting policy on derivative financial instruments). Business combinations The cost of an acquisition is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date, irrespective of the extent of any non-controlling interest. Costs related to acquisitions are expensed as incurred. The excess of the cost of acquisition over the fair value of the Group’s share of the identifiable net assets acquired is recorded as goodwill. If the cost of acquisition is less than the fair value of the Group’s share of the net assets of the subsidiary acquired, the difference is recognized directly in the income statement. Interests in associates Investments in companies where significant influence is exercised are accounted for as interests in associates using the equity method of accounting from the date the investee becomes an associate. The investment is initially recognized at cost and adjusted thereafter for changes in the Group’s share in the net assets of the investee. The Group’s share of profit or loss after tax is recognized in the Group income statement and share of other comprehensive income or expense is recognized in the Group statement of other comprehensive income. On acquisition of the investment in an associate, any excess of the cost of the investment over the Group’s share of the fair value of net assets of the investee is recognized as goodwill, which is included within the carrying amount of the investment. The requirements of IAS 36 “Impairment of Assets”, are applied to determine whether it is necessary to recognize any impairment loss with respect to the Group’s investment in an associate. Impairment losses recognized are charged to the income statement. Revenue The Group’s revenues are derived primarily from the sale of a broad range of plumbing and heating products. The Group’s customers predominantly operate within the repair, maintenance and improvement sector and are served through a network of branches and distribution centers. Revenue is the consideration expected to be received in exchange for the provision of goods falling within the Group’s ordinary activities, excluding intra-group sales, estimated and actual sales returns, trade and early settlement discounts, Value Added Tax and similar sales taxes. Revenue from the sale of goods is recognized when the customer obtains control of the goods, which is the point they are delivered to, or collected by, the customer. Revenue from the provision of goods is only recognized when the transaction price is determinable and it is probable that the entity will collect the consideration to which it will be entitled in exchange for the goods to be transferred to the customer. Payment terms between the Group and its customers vary by the type of customer, country of sale and the products sold. The Group does not have significant financing components in its contracts and the payment due date is typically shortly after sale. In some instances, goods are delivered directly to the customer by the supplier. The Group has concluded it is the principal in these transactions as it is primarily responsible to the customer for fulfilling the obligation and has the responsibility for identifying and directing the supplier to deliver the goods to the customer. The Group offers a right of return to its customers for most of its goods sold. Revenue is reduced by the amount of expected returns, estimated based on historical data, in the period in which the related revenue is recorded. Returns can be reliably estimated as historic returns as a percentage of revenue have remained stable over time and the terms and conditions of sale have remained broadly unchanged for several years. Early settlement discounts are known shortly after the sale and can therefore be reliably estimated. The Group also provides customers with assurance-type warranties for some own brand goods that provide assurance the goods comply with agreed-upon specifications and will operate as specified for a set period from the date of sale. Obligations under these warranties are accounted for as provisions. The Group has no contracts with an expected duration of more than one year. Cost of sales Cost of sales includes purchased goods and the cost of bringing inventory to its present location and condition. Supplier rebates In line with industry practice, the Group has agreements (“supplier rebates”) with a number of its suppliers whereby volume-based rebates, marketing support and other discounts are received in connection with the purchase of goods for resale from those suppliers. Rebates relating to the purchase of goods for resale are accrued as earned and are recorded initially as a deduction in inventory with a subsequent reduction in cost of sales when the related product is sold. Volume-based supplier rebates The majority of volume-based supplier rebates are determined by reference to guaranteed rates of rebate. These are calculated through a mechanical process with minimal judgment required to determine the amount recorded in the income statement. A small proportion of volume-based supplier rebates are subject to tiered targets where the rebate percentage increases as volumes purchased reach agreed targets within a set period of time. The majority of rebate agreements apply to purchases in a calendar year and therefore, for tiered rebates, judgment is required to estimate the rebate amount recorded in the income statement at the end of the period. The Group assesses the probability that targeted volumes will be achieved in the year based on forecasts which are informed by historical trading patterns, current performance and trends. This judgment is exercised consistently with historically insignificant true ups at the end of the period. An amount due in respect of supplier rebates is not recognized within the income statement until all the relevant performance criteria, where applicable, have been met and the goods have been sold to a third party. Other rebates The Group has also entered into other rebate agreements which represent a smaller element of the Group’s overall supplier rebates, which are recognized in the income statement when all performance conditions have been fulfilled. Supplier rebates receivable Supplier rebates are offset with amounts owing to each supplier at the balance sheet date and are included within trade payables where the Group has the legal right to offset and net settles balances. Where the supplier rebates are not offset against amounts owing to a supplier, the outstanding amount is included within prepayments. Goodwill Goodwill represents the excess of the cost of an acquisition over the fair value of the Group’s share of the net identifiable assets of the acquired subsidiary undertaking at the date of acquisition. Goodwill on acquisitions of subsidiary undertakings is included within intangible assets. Goodwill is allocated to cash generating units or aggregations of cash generating units (together “CGUs”) where synergy benefits are expected. CGUs are independent sources of income streams and represent the lowest level within the Group at which the associated goodwill is monitored for management purposes. The Group’s CGUs are based on the markets where the business operates and are grouped in line with the management structure. Goodwill is not amortized but is tested annually for impairment and carried at cost less accumulated impairment losses. For goodwill impairment testing purposes, no CGU is larger than the operating segments determined in accordance with IFRS 8 “Operating Segments”. The recoverable amount of goodwill and acquired intangible assets are assessed on the basis of the higher of fair value less costs to sell and the value in use estimate for CGUs to which they are attributed. Where carrying value exceeds the recoverable amount a provision for the impairment is established with a charge included in the income statement. Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold. Other intangible assets An intangible asset, which is an identifiable non-monetary asset without physical substance, is recognized to the extent that it is probable that the expected future economic benefits attributable to the asset will flow to the Group and that its cost can be measured reliably. The asset is deemed to be identifiable when it is separable or when it arises from contractual or other legal rights. Intangible assets, primarily brands, trade names and customer relationships, acquired as part of a business combination are capitalized separately from goodwill and are carried at cost less accumulated amortization and accumulated impairment losses. Amortization is calculated using the reducing balance method for customer relationships and the straight-line method for other intangible assets. The cost of the intangible assets is amortized and charged to operating costs in the income statement over their estimated useful lives as follows: Customer relationships 4 – 25 years Trade names and brands 1 – 15 years Other 1 – 4 years Computer software that is not integral to an item of property, plant and equipment is recognized separately as an intangible asset and is carried at cost less accumulated amortization and accumulated impairment losses. Costs may include software licenses and external and internal costs directly attributable to the development, design and implementation of the computer software. Costs in respect of training and data conversion are expensed as incurred. Amortization is calculated using the straight-line method so as to charge the cost of the computer software to operating costs in the income statement over its estimated useful life of between three Leases The Group enters into leases in the normal course of its business; these principally relate to property for the Group’s branches, distribution centers and offices which have varying terms including extension and termination options and periodic rent reviews. The Group recognizes a right of use asset and a lease liability at the lease commencement date. Non-lease components of a contract are not separated from lease components and instead are accounted for as a single lease component. Lease liabilities are initially measured at the present value of lease payments using the interest rate implicit in the lease, or if this is not readily available, at the Group’s incremental borrowing rate. Lease payments comprise fixed payments, variable payments that depend on an index or rate, payments expected under residual value guarantees and payments under purchase and termination options which are reasonably certain to be exercised. Lease terms are initially determined as the non-cancelable period of a lease adjusted for options to extend or terminate a lease that are reasonably certain to be exercised and management judgment is required in making this determination. Lease liabilities are subsequently measured at amortized cost using the effective interest method. Lease liabilities are remeasured when there is a change in future lease payments as a result of a rent review or a change in an index or rate, or if there is a significant event which changes the assessment of whether it is reasonably certain that extension or termination options will be exercised. Right of use assets are carried at cost less accumulated depreciation and impairment losses and any subsequent remeasurement of the lease liability. Initial cost comprises the lease liability adjusted for lease payments at or before the commencement date, lease incentives received, initial direct costs and an estimate of restoration costs. Right of use assets are depreciated on a straight-line basis to the earlier of the end of the useful life of the asset or the end of the lease term and tested for impairment if an indicator exists. Leases that have a term of 12 months or less and leases for which the underlying asset is of low value are recognized as an expense on a straight-line basis over the lease term. Operating leases (applicable for the year ended July 31, 2019) Leases where the lessor retains substantially all the risks and rewards of ownership are classified as operating leases. The cost of operating leases (net of any incentives received from the lessor) is charged to the income statement on a straight line basis over the period of the leases. Property, plant and equipment (“PPE”) PPE is carried at cost less accumulated depreciation and accumulated impairment losses, except for land and assets in the course of construction, which are not depreciated and are carried at cost less accumulated impairment losses. Cost includes expenditure that is directly attributable to the acquisition of the items. In addition, subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. All other repairs and maintenance costs are charged to the income statement during the financial period in which they are incurred. Assets are depreciated to their estimated residual value using the straight-line method over their estimated useful lives as follows: Freehold buildings 20 - 50 years Leasehold improvements over the period of the lease Plant and machinery 7 - 10 years Computer hardware 3 - 5 years Fixtures and fittings 5 - 7 years Motor vehicles 4 years The residual values and estimated useful lives of PPE are reviewed and adjusted if appropriate at each balance sheet date. The Group reviews at the balance sheet date whether events or circumstances indicate that the carrying value of its PPE may be impaired. If such circumstances are determined to exist, an estimate of the recoverable amount of the asset, or the appropriate grouping of assets, is compared to its carrying value to determine whether an impairment exists. Inventories Inventories, which comprise goods purchased for resale, are stated at the lower of cost and net realizable value. Cost is determined using the first-in, first-out (“FIFO”) method or the average cost method as appropriate to the nature of the transactions in those items of inventory. The cost of goods purchased for resale includes import and custom duties, transport and handling costs, freight and packing costs and other attributable costs less trade discounts, rebates and other subsidies. It excludes borrowing costs. Net realizable value is the estimated selling price in the ordinary course of business, less applicable variable selling expenses. Provisions are made against slow-moving, obsolete and damaged inventories for which the net realizable value is estimated to be less than the cost. The risk of obsolescence of slow-moving inventory is assessed by comparing the level of inventory held to estimated future sales on the basis of historical experience. Trade receivables Trade receivables are recognized initially at their transaction price and measured subsequently at amortized cost using the effective interest method, less the loss allowance. The loss allowance for trade receivables is measured at an amount equal to lifetime expected credit losses, estimated based on historical write-offs adjusted for forward-looking information where appropriate. A loss allowance of 100 percent is recognized against trade receivables more than 180 days past due because historical experience indicates that these are generally not recoverable. The loss is recognized in the income statement. Trade receivables are written off when recoverability is assessed as being remote. Subsequent recoveries of amounts previously written off are credited to the income statement. Provisions Provisions for self-insured risks, legal claims and environmental restoration are recognized when the Group has a present legal or constructive obligation as a result of past events, it is more likely than not that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated. Such provisions are measured at the present value of management’s best estimate of the expenditure required to settle the present obligation at the balance sheet date. The discount rate used to determine the present value reflects current market assessments of the time value of money. Provisions are not recognized for future operating losses. Retirement benefit obligations Contributions to defined contribution pension plans and other post-retirement benefits are recorded within operating profit. For defined benefit pension plans and other post-retirement benefits, the cost of providing benefits is determined annually using the Projected Unit Credit Method by independent qualified actuaries. The current and past service cost of defined benefit pension plans is recorded within operating profit. The net interest amount is calculated by applying the discount rate to the defined benefit net asset or liability at the beginning of the period. The pension plan net interest is presented as finance income or expense. Actuarial gains and losses arising from experience adjustments. Changes in actuarial assumptions and the return from pension plan assets, excluding amounts recorded in net interest on the net pension plan liability/asset are charged or credited to equity in other comprehensive income in the period in which they arise. The liability or asset recognized in the balance sheet in respect of defined benefit pension plans is the fair value of plan assets less the present value of the defined benefit obligation at the end of the reporting period. Where a plan is in a net asset position the asset is recognized where trustees do not have unilateral power to augment benefits prior to a wind-up. Tax Current tax represents the expected tax payable (or recoverable) on the taxable income (or losses) for the year using tax rates enacted or substantively enacted at the balance sheet date and taking into account any adjustments arising from prior years. Deferred tax is provided in full, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements. Deferred tax is not accounted for if it arises from initial recognition of an asset or liability in a transaction, other than a business combination, that at the time of the transaction affects neither accounting nor taxable profit or loss. Deferred tax is determined using tax rates that have been enacted or substantively enacted by the balance sheet date and are expected to apply when the related deferred tax asset is realized or the deferred tax liability is settled. Deferred tax assets are recognized to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilized. Deferred tax is provided on temporary differences arising on investments in subsidiaries except where the timing of the reversal of the temporary difference is controlled by the Group and it is probable that the temporary difference will not reverse in the foreseeable future. Tax provisions The Group is subject to income taxes in numerous jurisdictions. Judgment is sometimes required in determining the worldwide provision for income taxes. There may be transactions for which the ultimate tax determination is uncertain and may be challenged by the tax authorities. The Group recognizes liabilities for anticipated or actual tax audit issues based on estimates of whether additional taxes will be due. Where an outflow of funds to a tax authority is considered probable and material and the Group can make a reliable estimate of the outcome of the dispute, management calculates the provision using the most likely amount or the expected value approach, depending on which is most appropriate for the uncertain tax provision. In assessing its uncertain tax provisions, management takes into account the specific facts of each dispute, the likelihood of settlement and professional advice where required. Where the ultimate liability in a dispute varies from the amounts provided, such differences could impact the current and deferred income tax assets and liabilities in the period in which the dispute is concluded. Share capital Where the Company purchases the Company’s equity share capital (Treasury shares), the consideration paid, including any directly attributable incremental costs (net of tax), is deducted from equity attributable to shareholders of the Company until the shares are cancelled, reissued or disposed of. Where such shares are subsequently sold or reissued, any consideration received, net of any directly attributable incremental transaction costs and the related tax effects, is included in equity attributable to shareholders of the Company. Share-based payments Share-based incentives are provided to associates under the Group’s long term incentive plans and all-employee sharesave plans. The Group recognizes a compensation cost in respect of these plans that is based on the fair value of the awards, measured using Binomial and Monte Carlo valuation methodologies. For equity-settled plans, the fair value is determined at the date of grant (including the impact of any non-vesting conditions such as a requirement for employees to save) and is not subsequently remeasured unless the conditions on which the award was granted are modified. For cash-settled plans, the fair value is determined at the date of grant and is remeasured at each balance sheet date until the liability is settled. Generally, the compensation cost is recognized on a straight-line basis over the vesting period. Adjustments are made to reflect expected and actual forfeitures during the vesting period due to the failure to satisfy service conditions or non-market performance conditions. Dividends payable Dividends on ordinary shares are recognized in the Group’s consolidated financial statements in the period in which the dividends are approved by the shareholders of the Company or paid. Cash and cash equivalents Cash and cash equivalents includes cash in-hand, deposits held at call with banks with original maturities of three months or less and bank overdrafts to the extent there is a legal right of offset and practice of net settlement with cash balances. Bank overdrafts are shown within borrowings in current liabilities on the balance sheet to the extent that there is no legal right of offset and no practice of net settlement with cash balances. Derivative financial instruments Derivative financial instruments, in particular interest rate swaps and foreign exchange swaps, are used to manage the financial risks arising from the business activities of the Group and the financing of those activities. There is no trading activity in derivative financial instruments. At the inception of a hedging transaction involving the use of derivative financial instruments, the Group documents the relationship between the hedged item and the hedging instrument together with its risk management objective and the strategy underlying the proposed transaction. The Group also documents its assessment, both at the inception of the hedging relationship and subsequently on an ongoing basis, of the effectiveness of the hedge in offsetting movements in the fair values or cash flows of the hedged items. Derivative financial instruments are recognized as assets and liabilities measured at their fair values at the balance sheet date. Where derivative financial instruments do not fulfil the criteria for hedge accounting contained in IFRS 9, changes in their fair values are recognized in the income statement. When hedge accounting is used, the relevant hedging relationships are classified as fair value hedges, cash flow hedges or net investment hedges. Where the hedging relationship is classified as a fair value hedge, the carrying amount of the hedged asset or liability is adjusted by the increase or decrease in its fair value attributable to the hedged risk and the resulting gain or loss is recognized in the income statement where, to the extent that the hedge is effective, it will be offset by the change in the fair value of the hedging instrument. If the hedge no longer meets the criteria for hedge accounting, the adjustment to the carrying amount of a hedged item for which the effective interest method is used is amortized to the income statement over the period to maturity. Where the hedging relationship is classified as a cash flow hedg

Segment analysis

Segment analysis	12 Months Ended
	Jul. 31, 2021
Disclosure of operating segments [abstract]
Segment analysis	Segmental analysis The Group’s operating segments are established on the basis of the operating businesses overseen by distinct divisional management teams responsible for their performance. These operating businesses are managed on a geographical basis and are regularly reviewed by the chief operating decision-maker, which is determined to be the Group Chief Executive and the Group Chief Financial Officer, in deciding how to allocate resources and assess the performance of the businesses. All operating segments derive their revenue from a single business activity, the distribution of plumbing and heating products. Revenue is attributed to a country based on the location of the Group company reporting the revenue. The Group disposed of its UK business Wolseley UK Limited on January 29, 2021. The UK results have been reclassified to discontinued operations and the prior year comparative results have been restated. Prior to 2019, the Group combined the Canada and Central Europe operating segments into one reportable segment as individually they do not meet the quantitative thresholds set out in IFRS 8 “Operating Segments” to be separately disclosed. In 2019, the Group disposed of its Dutch business, Wasco, which was the last of its Central European businesses. The Group’s business is not highly seasonal and the Group’s customer base is highly diversified, with no individually significant customer. An analysis of segment revenue from external customers is as follows: 2021 2020 2019 $m $m $m USA 21,478 18,857 18,358 Canada and Central Europe 1,314 1,083 1,371 Revenue from external customers 22,792 19,940 19,729 There is no revenue from inter-segment transactions. An additional disaggregation of revenue by end market is as follows: 2021 2020 2019 $m $m $m Residential 11,990 10,087 9,599 Commercial 6,661 6,116 6,054 Civil/Infrastructure 1,506 1,315 1,212 Industrial 1,321 1,339 1,493 USA 21,478 18,857 18,358 Canada and Central Europe 1,314 1,083 1,371 Continuing operations 22,792 19,940 19,729 Underlying trading profit is the segment measure of profit and loss reviewed by the chief operating decision maker. Underlying trading profit is defined as profit before tax excluding central and other costs, (loss)/gain on disposal of businesses, business restructuring costs, corporate restructuring costs and pension plan changes/closure costs, amortization of acquired intangible assets, net finance costs, share of profit after tax of associates, gain on disposal of interests in associates and other investments and impairment of interests in associates. As a result of the Group’s adoption of IFRS 16, from August 1, 2019, underlying trading profit also excludes interest and depreciation solely related to leases and adjusts for the inclusion of the lease expenses under the Group’s policy under IAS 17 (i.e., the lease standard in effect prior to the adoption of IFRS 16). An analysis of underlying trading profit by reportable segment and the reconciliation between underlying trading profit by reportable segment and profit before tax is as follows: 2021 2020 2019 $m $m $m Underlying trading profit USA 2,073 1,587 1,508 Canada and Central Europe 76 43 76 Reconciliation of underlying trading profit to profit before tax Total reportable segments results 2,149 1,630 1,584 Central and other costs (50) (38) (45) Gain on disposal of businesses — — 38 Business restructuring (1) 11 (72) (79) Corporate restructuring (2) (22) (25) — Pension plan changes/closure (3) — — (9) Amortization of acquired intangible assets (131) (114) (110) Net finance costs (144) (140) (74) Share of profit/(loss) after tax of associates 1 (2) 2 Gain on disposal of interests in associates and other investments — 7 3 Impairment of interests in associates — (22) (9) Impact of leases 77 68 — Profit before tax (4) 1,891 1,292 1,301 (1) For the year ended July 31, 2021, business restructuring reflects the release of provisions in connection with previously anticipated COVID-19 cost actions recorded in fiscal 2020. For the year ended July 31, 2020, business restructuring principally comprised costs incurred in the USA and Canada in respect of cost actions taken to ensure the business is appropriately sized for the post COVID-19 operating environment. For the year ended July 31, 2019, business restructuring comprised costs incurred in the USA and Canada in respect of their business transformation strategies and costs relating to the change in the Group corporate headquarters. (2) For the years ended July 31, 2021 and 2020, corporate restructuring costs related to the Group’s listing in the USA. (3) For the year ended July 31, 2019, pension plan changes/closure relate to the defined benefit pension plan in the UK. (4) From continuing operations. Other information on assets and liabilities by segment is set out in the following tables: 2021 2020 Segment Segment Segment Segment Segment Segment $m $m $m $m $m $m USA 10,959 (5,205) 5,754 9,338 (4,402) 4,936 Canada 722 (328) 394 603 (315) 288 Total reportable segments 11,681 (5,533) 6,148 9,941 (4,717) 5,224 Central and other costs 140 (119) 21 49 (159) (110) Discontinued operations 1 (9) (8) 1,096 (724) 372 Tax assets/(liabilities) 307 (303) 4 216 (319) (103) Derivative financial assets/(liabilities) 21 — 21 39 — 39 Cash and cash equivalents 1,335 — 1,335 2,115 — 2,115 Borrowings — (2,711) (2,711) — (3,166) (3,166) Group assets/(liabilities) 13,485 (8,675) 4,810 13,456 (9,085) 4,371 Geographical information on non-current assets is set out in the table below. Non-current assets includes goodwill, other intangible assets, right of use assets, property, plant and equipment and interests in associates. 2021 2020 $m $m USA 4,242 4,134 Canada 263 255 UK 3 357 Group 4,508 4,746 2021 Additions to Additions to other acquired intangible assets and interests in associates Additions to Additions to right of use assets Additions to property, plant and equipment $m $m $m $m $m USA 80 164 66 84 165 Canada — — 4 8 5 Total reportable segments 80 164 70 92 170 Discontinued operations — — 2 2 4 Group 80 164 72 94 174 2020 Additions to Additions to other Additions to Additions to right of use assets Additions to $m $m $m $m $m USA 66 107 79 86 199 Canada — — 3 10 2 Total reportable segments 66 107 82 96 201 Discontinued operations 12 31 5 19 13 Group 78 138 87 115 214 2021 Impairment of Amortization of Amortization Depreciation and Depreciation and $m $m $m $m $m USA — 131 34 224 123 Canada — — 2 16 7 Total reportable segments — 131 36 240 130 Central and other costs — — 1 1 — Discontinued operations — 3 2 13 6 Group — 134 39 254 136 2020 Impairment of Amortization of Amortization Depreciation and Depreciation and $m $m $m $m $m USA — 113 26 226 131 Canada — 1 2 14 7 Total reportable segments — 114 28 240 138 Central and other costs 22 — 1 1 1 Discontinued operations — 16 6 37 20 Group 22 130 35 278 159

Operating profit

Operating profit	12 Months Ended
	Jul. 31, 2021
Analysis of income and expense [abstract]
Operating profit	Operating profit Amounts charged/(credited) in arriving at operating profit from continuing operations include: Notes 2021 2020 2019 $m $m $m Amortization of acquired intangible assets 11 131 114 110 Amortization of non-acquired intangible assets 11 37 29 23 Depreciation of right of use assets 12 241 233 — Impairment of right of use assets 12 — 8 — Depreciation of property, plant and equipment 13 130 135 126 Impairment of property, plant and equipment 13 — 4 — Gain on disposal of businesses — — (38) Amounts included in cost of sales with respect to inventory 15,637 13,804 13,699 Staff costs 9 3,143 2,891 2,896 Operating lease rentals: land and buildings — — 223 Operating lease rentals: plant and machinery — — 78 Trade receivables impairment (3) 10 5

Net finance costs

Net finance costs	12 Months Ended
	Jul. 31, 2021
Analysis of income and expense [abstract]
Net finance costs	Net finance costs 2021 2020 2019 $m $m $m Finance income 1 7 12 Interest cost on borrowings (101) (108) (97) Unwind of fair value adjustment to senior unsecured loan notes 2 5 6 Lease liability expense (44) (49) — Net interest (expense)/income on defined benefit obligation (note 22) (2) 3 5 Valuation gains on financial instruments — 2 — Finance costs (145) (147) (86) Total net finance costs (144) (140) (74)

Tax

Tax	12 Months Ended
	Jul. 31, 2021
Income Taxes [Abstract]
Tax	Tax The tax charge for the year comprises: 2021 2020 2019 $m $m $m Current year tax charge 394 294 306 Adjustments to tax charge in respect of prior years 19 (16) 4 Total current tax charge 413 278 310 Deferred tax (credit)/charge: origination and reversal of temporary differences (172) 39 (51) Total tax charge 241 317 259 The deferred tax credit of $172 million (2020: charge of $39 million and 2019: credit of $51 million) includes a credit of $29 million (2020: credit of $5 million and 2019: charge $4 million) resulting from changes in tax rates. The deferred tax credit is materially impacted by an accounting method change with respect to accounting for inventory in the USA. This has resulted in a recharacterization of deferred tax liabilities and increased current year tax charge for a net nil impact. A tax charge of $12 million (2020: credit $10 million and 2019: charge of $8 million) arises on the profit from discontinued operations. Tax on items charged to the Group statement of comprehensive income: 2021 2020 2019 $m $m $m Deferred tax (charge)/credit on remeasurement of retirement benefit plans (19) 44 6 Total tax on items (charge)/credit to the Group statement of comprehensive income (19) 44 6 Within the statement of other comprehensive income, there is a tax credit of $8 million (2020: $nil and 2019: $nil) relating to changes in tax rates. Tax on items credited to equity: 2021 2020 2019 $m $m $m Current tax credit on share-based payments 5 6 5 Deferred tax credit on share-based payments 4 5 1 Total tax on items credited to equity 9 11 6 There is no tax charge in the statement of changes in equity which relates to changes in tax rates in 2021, 2020, and 2019. The Group has made provisions for the liabilities likely to arise from open audits and assessments. At July 31, 2021, the Group has recognized provisions of $138 million (2020: $294 million and 2019: $254 million) in respect of its uncertain tax positions. The total provision has decreased by $156 million in the year primarily due to decreases related to closure of tax authority audits and the expiry of the statute of limitations for a number of open tax years. With respect to the remaining uncertain tax positions, although there is uncertainty regarding the timing of the resolution of these matters, management do not believe that the Group’s uncertain tax provisions constitute a major source of estimation uncertainty as they consider that there is no significant risk of a material change to its estimate of these provisions within the next 12 months. Total profit/tax from continuing operations 2021 2020 2019 Tax reconciliation: $m % $m % $m % Profit before tax 1,891 1,292 1,301 Expected tax at weighted average tax rate (1) (431) 22.8 (272) 21.0 (216) 16.6 Adjusted for the effects of: over/(under) provisions in respect of prior periods (2) 11 (0.6) (2) 0.2 (5) 0.4 current year credit/(charge) in relation to uncertain tax provisions (3) 138 (7.4) (33) 2.6 (35) 2.7 tax credits and incentives 12 (0.6) 6 (0.5) 4 (0.3) non-taxable income 18 (1.0) 8 (0.6) 3 (0.2) recognition of previously unrecognized deferred tax asset — — — — 11 (0.9) other (4) (18) 1.0 (29) 2.2 (17) 1.3 effect of tax rate changes (5) 29 (1.5) 5 (0.4) (4) 0.3 Tax (charge) / effective tax rate (241) 12.7 (317) 24.5 (259) 19.9 (1) This expected weighted average tax rate reflects the applicable statutory corporate tax rates on the accounting profits/losses in the countries in which the Group operates after intra-group financing. This results in interest deductions and lower taxable profits in many of the countries and therefore reduce the tax rate. (2) This includes adjustments arising out of movements in uncertain tax provisions regarding prior periods and differences between the final tax liabilities in the tax computations and the tax liabilities provided in the consolidated financial statements. (3) This reflects management’s assessment of the potential tax liability for the current year in relation to open tax issues and audits. (4) This primarily relates to non-taxable disposal of businesses and to certain expenditure for which no tax relief is available such as disallowable business entertaining costs and legal/professional fees. (5) In fiscal 2021, this relates to the change of the corporation tax rate to 25 percent from the previously enacted 19 percent in the UK. In fiscal 2020 and fiscal 2019, this relates to the change of the deferred tax rate to 19 percent from the previously enacted 17 percent in the UK. Deferred tax assets and liabilities, which are offset where the Group has a legally enforceable right to do so, are shown in the balance sheet after offset as follows: 2021 2020 $m $m Deferred tax assets 303 216 Deferred tax liabilities — (26) 303 190 The following are the major deferred tax assets and liabilities recognized by the Group and movements thereon during the current and prior reporting year: Goodwill Share- Property, Right of Lease Retirement Inventory Tax Method Changes Tax Trade Other Total $m $m $m $m $m $m $m $m $m $m $m $m At July 31, 2019 (74) 25 31 — — 40 (114) — 88 40 72 108 Adjustment on adoption of IFRS 16 — — — (298) 372 — — — — (5) — 69 At August 1, 2019 (74) 25 31 (298) 372 40 (114) — 88 35 72 177 Credit/(charge) to income 3 (2) (14) 27 (34) 1 5 — 11 (13) (13) (29) Credit to other comprehensive income — — — — — 44 — — — — — 44 Credit to equity — 5 — — — — — — — — — 5 Acquisitions (12) — 1 (4) 4 — — — — — — (11) Exchange rate adjustment — — 4 — — (1) — — 1 — — 4 At July 31, 2020 (83) 28 22 (275) 342 84 (109) — 100 22 59 190 Credit/(charge) to income 3 4 (5) 26 (42) (4) (19) 98 20 60 20 161 Charge to other comprehensive income — — — — — (19) — — — — — (19) Credit to equity — 4 — — — — — — — — — 4 Acquisitions (16) — — — — — 1 — 5 — — (10) Transfers to held for sale 6 (1) (17) 24 (25) — — — (17) — 1 (29) Transfers between categories — — — — — — 195 (195) — — — — Exchange rate adjustment — — 5 — — 1 — — — — — 6 At July 31, 2021 (90) 35 5 (225) 275 62 68 (97) 108 82 80 303 Legislation has been enacted in the UK to increase the standard rate of UK corporation tax from 19 percent to 25 percent with effect from April 2023. Accordingly, the UK deferred tax assets and liabilities have been calculated based on a tax rate which materially reflects the rate for the period in which the deferred tax assets and liabilities are expected to reverse. Net deferred tax assets have been recognized on the basis that sufficient taxable profits are forecast to be available in the future to enable them to be utilized. In addition, the Group has unrecognized gross tax losses totaling $404 million (2020: $369 million) that have not been recognized on the basis that their future economic benefit is uncertain. These losses have no expiry date and relate predominantly to capital losses.

Discontinued operations

Discontinued operations	12 Months Ended
	Jul. 31, 2021
Non-Current Assets Held For Sale And Discontinued Operations [Abstract]
Discontinued operations	Discontinued operations The Group disposed of the shares in its UK business, Wolseley UK Limited, on January 29, 2021 and during the year ended July 31, 2019, sold its remaining property assets in the Nordic region (together the “disposal group”). In accordance with IFRS 5 “Non-current Assets Held for Sale and Discontinued Operations”, the disposal group has been presented as a discontinued operation. The assets and liabilities of the UK business were transferred to assets held for sale during the year before being disposed of. The results from discontinued operations, which have been included in the Group income statement, are set out below: 2021 2020 2019 $m $m $m Revenue 1,138 1,879 2,281 Cost of sales (879) (1,440) (1,730) Gross profit 259 439 551 Operating costs: (loss)/gain on disposal of businesses (356) — 19 operating costs (205) (441) (479) other 174 (18) (21) Operating costs (387) (459) (481) Operating (loss)/profit (128) (20) 70 Net finance (costs)/income (2) (4) 4 (Loss)/profit before tax (130) (24) 74 Tax (charge)/credit (12) 10 (8) (Loss)/profit from discontinued operations (142) (14) 66 Basic earnings per share (63.6) ¢ (6.2) ¢ 28.7 ¢ Diluted earnings per share (63.2) ¢ (6.2) ¢ 28.5 ¢ The discontinued loss on disposal of businesses in fiscal 2021 comprises a loss on disposal of the UK business of $370 million generated from the recycling of cumulative translation adjustments and a gain on prior year disposals of $14 million. In fiscal 2021, discontinued other operating costs comprised a $63 million impairment of assets held for sale relating to the sale of the UK business, a $235 million gain from recycling of cumulative translation adjustments following the abandonment of former Group financing companies and a $2 million release relating to UK business restructuring in prior years. In fiscal 2020, discontinued other operating costs also included $18 million in restructuring costs incurred in the UK, including $3 million charged to cost of sales for inventory write-downs. In 2019, discontinued other operating costs primarily relates to business restructuring costs incurred in the UK in respect of their business transformation strategy. On January 29, 2021, the Group disposed of the shares in its UK business, Wolseley UK Limited. There were no other disposals in the year ended July 31, 2021. The Group recognized a total loss on disposals in the period of $356 million (2020: $nil million), which is comprised of a loss on the current period disposal of the UK business of $370 million (2020: $nil million) and a gain on prior year disposals of $14 million (2020: $nil million). The total loss is reported within discontinued operations. The loss on current period disposal is as follows: 2021 2020 $m $m Consideration received 422 — Net assets disposed of (390) — Disposal costs and provisions (32) — Recycling of deferred foreign exchange losses (370) — Current period loss on disposal (370) — Net assets disposed of were held in assets and liabilities held for sale. The net inflow of cash in respect of disposals of businesses related to discontinued operations is as follows: 2021 2020 2019 $m $m $m Cash consideration received for current period disposals (net of cash disposed of) 395 — 220 Cash consideration received in respect of prior year disposals 19 9 (2) Cash paid in respect of prior year disposals (2) (2) (16) Disposal costs paid (32) — (1) Net cash flow in respect of disposals of businesses 380 7 201

Dividends

Dividends	12 Months Ended
	Jul. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Dividends	Dividends Amounts recognized as distributions to equity shareholders: 2021 2020 2019 $m $m $m Final dividend for the year ended July 31, 2018: 131.9 cents per share — — 303 Interim dividend for the year ended July 31, 2019: 63.1 cents per share — — 146 Final dividend for the year ended July 31, 2019: 145.1 cents per share — 327 — Final dividend for the year ended July 31, 2020: 208.2 cents per share 467 — — Interim dividend for the year ended July 31, 2021: 72.9 cents per share 163 — — Special dividend: 180.0 cents per share 404 — — Dividends paid 1,034 327 449 Since the end of the financial year, the Directors have proposed a final ordinary dividend of approximately $369 million (166.5 cents per share). The dividend is subject to approval by shareholders at the Company’s 2021 Annual General Meeting and is therefore not included in the balance sheet as a liability at July 31, 2021.

Earnings per share

Earnings per share	12 Months Ended
	Jul. 31, 2021
Earnings per share [abstract]
Earnings per share	Earnings per share 2021 2020 Earnings Basic Diluted Earnings Basic Diluted $m cents cents $m cents cents Profit from continuing and discontinued operations attributable to shareholders of the Company 1,508 674.7 670.5 961 427.5 423.5 Loss from discontinued operations 142 63.6 63.2 14 6.2 6.2 Profit from continuing operations 1,650 738.3 733.7 975 433.7 429.7 2019 Earnings Basic Diluted $m cents cents Profit from continuing and discontinued operations attributable to shareholders of the Company 1,108 481.3 477.8 Profit from discontinued operations (66) (28.7) (28.5) Profit from continuing operations 1,042 452.6 449.3

Employee and key management inf

Employee and key management information	12 Months Ended
	Jul. 31, 2021
Number and average number of employees [abstract]
Employee and key management information	Employee and key management information 2021 2020 2019 $m $m $m Wages and salaries 2,807 2,627 2,605 Social security costs 182 169 173 Pension costs—defined contribution plans 74 68 77 Pension costs—defined benefit plans (note 22) 3 3 11 Share-based payments 77 24 30 Total staff costs 3,143 2,891 2,896 The total staff costs in connection with discontinued operations was $124 million (2020: $246 million and 2019: $267 million). Average number of employees 2021 2020 2019 USA 27,032 27,085 27,489 Canada and Central Europe 2,443 2,473 2,974 Central and other 63 74 79 Continuing operations 29,538 29,632 30,542 The average number of employees for discontinued operations was 2,386 (2020: 5,005 and 2019: 5,397). Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the Group, directly or indirectly, including any Director of the Company. The aggregate emoluments for all key management are set out in the following table: Key management personnel compensation (including Directors) 2021 2020 2019 $m $m $m Salaries, bonuses and other short term employee benefits 16 16 13 Post-employment benefits 2 1 1 Share-based payments 18 8 11 Total compensation 36 25 25

Intangible assets_goodwill

Intangible assets—goodwill	12 Months Ended
	Jul. 31, 2021
Goodwill [Abstract]
Intangible assets—goodwill	Intangible assets—goodwill 2021 2020 $m $m Cost On August 1 1,861 1,789 Exchange rate adjustment 15 8 Acquisitions 80 78 Adjustment to fair value on prior year acquisitions — (14) Reclassification as held for sale (162) — At July 31 1,794 1,861 Accumulated impairment losses On August 1 140 133 Exchange rate adjustment 3 7 Reclassification as held for sale (106) — At July 31 37 140 Net book value at July 31 1,757 1,721 Goodwill and intangible assets acquired during the year have been allocated to the individual cash generating units or aggregated cash generating units (together “CGUs”) which are deemed to be the smallest identifiable group of assets generating independent cash inflows. CGUs have been aggregated in the disclosure below at a segmental level except for certain CGUs in the USA which are considered to be significant (more than 10 percent of the current year goodwill balance). Impairment reviews were performed for each individual CGU during the year ended July 31, 2021. 2021 2020 Long term Post-tax Pre-tax Goodwill Long term Post-tax Pre-tax Goodwill % % % $m % % % $m Blended Branches (1) 1,096 1,038 Waterworks 192 183 Rest of USA (1) 319 306 USA 2.2 7.5 10.3 1,607 2.2 8.1 10.8 1,527 UK n/a n/a n/a — 1.5 7.7 9.4 55 Canada 2.0 8.0 10.9 150 1.3 7.8 10.8 139 Total 1,757 1,721 (1) Due to a reorganization of the reporting structure, the Facilities Supply CGU, previously included within the Rest of USA CGU, has been reallocated to the Blended Branches CGU. The comparative has been reclassified for comparability. The relevant inputs, including key assumptions, to the value in use calculations of each CGU are set out below. Cash flow forecasts for years one to three are derived from the most recent Board approved strategic plan. The forecast for year five represents an estimate of “mid-cycle” trading performance for the CGU based on historic analysis. Year four is calculated as the average of the final year of the strategic plan and year five’s mid-cycle estimate. The other inputs include: a risk-adjusted pre-tax discount rate, calculated by reference to the weighted average cost of capital (“WACC”) of each country and reflecting the latest equity market risk factors; and the 30-year long term growth rate by country, as published by the IMF in April 2021. The strategic plan is developed based on analyses of sales, markets and costs at a regional level. Consideration is given to past events, knowledge of future contracts and the wider economy. It takes into account both current business and future initiatives.

Intangible assets_other

Intangible assets—other	12 Months Ended
	Jul. 31, 2021
Intangible Assets [Abstract]
Intangible assets—other	Intangible assets—other Acquired intangible assets Software Trade Customer Other Total $m $m $m $m $m Cost On August 1, 2019 203 192 673 168 1,236 Exchange rate adjustment 5 1 4 — 10 Acquisitions 13 34 101 3 151 Adjustment to fair value on prior year acquisitions — 4 9 2 15 Additions 87 — — — 87 Disposals and transfers (2) — — — (2) At July 31, 2020 306 231 787 173 1,497 Exchange rate adjustment 3 — 3 — 6 Acquisitions — 17 132 15 164 Additions 72 — — — 72 Disposals and transfers (10) — — — (10) Reclassification as held for sale (66) (18) (65) (1) (150) At July 31, 2021 305 230 857 187 1,579 Acquired intangible assets Software Trade Customer Other Total $m $m $m $m $m Accumulated amortization and impairment losses On August 1, 2019 136 95 469 113 813 Exchange rate adjustment 2 1 3 — 6 Amortization charge for the year 35 28 85 17 165 Disposals (8) — — — (8) At July 31, 2020 165 124 557 130 976 Exchange rate adjustment 2 — 2 — 4 Amortization charge for the year 39 28 91 15 173 Disposals and transfers (12) — — — (12) Reclassification as held for sale (38) (11) (58) (1) (108) At July 31, 2021 156 141 592 144 1,033 Net book value at July 31, 2021 149 89 265 43 546 Net book value at July 31, 2020 141 107 230 43 521 At July 31, 2021, customer relationships net book value includes $69 million (2020: $80 million) in relation to the acquisition of Jones Stephens which had a remaining amortization period of seven years (2020: eight years).

Right of use assets and leases

Right of use assets and leases	12 Months Ended
	Jul. 31, 2021
Presentation of leases for lessee [abstract]
Right of use assets and leases	Right of use assets and leases Movements in right of use assets for the years ended July 31, 2021 were as follows: Land and Plant and Total right of $m $m $m Net book value at July 31, 2019 — — — Adjustment on adoption of IFRS 16 940 280 1,220 Net book value at August 1, 2019 940 280 1,220 Exchange rate adjustment 8 — 8 Acquisitions 28 2 30 Additions 54 61 115 Disposals and remeasurements 19 (3) 16 Depreciation charge for the year (191) (77) (268) Impairment charge for the year (9) (1) (10) Net book value at July 31, 2020 849 262 1,111 Exchange rate adjustments 7 1 8 Acquisitions 12 — 12 Additions 45 49 94 Disposals and remeasurements 66 (16) 50 Depreciation charge for the year (181) (73) (254) Reclassification as held for sale (108) (18) (126) Net book value at July 31, 2021 690 205 895 The depreciation charge for the year includes $13 million (2020: $35 million) and the impairment charge for the year ended July 31, 2020 includes $2 million in respect of discontinued operations. The Group’s land and building leases include leases for branches, distribution centers and offices. Leases in the USA and Canada often include one or more options to extend the lease term and some of the Group’s leases include options to terminate early. Certain leases include variable lease payments that are linked to a consumer price index or market rate. The Group’s land and building leases have a weighted average remaining lease term at July 31, 2021 of 5.3 years (2020: 5.9 years). The Group’s plant and machinery leases include leases for fleet vehicles, trucks and company cars. These leases have a weighted average remaining lease term at July 31, 2021 of 4.3 years (2020: 4.5 years). The maturity of lease liabilities at July 31, 2021 was as follows: 2021 2020 $m $m Due in less than one year 298 325 Due in one to two years 283 326 Due in two to three years 219 282 Due in three to four years 156 211 Due in four to five years 99 146 Due in over five years 148 218 Total undiscounted lease payments 1,203 1,508 Effect of discounting (113) (153) Lease liabilities 1,090 1,355 Current lease liabilities 263 281 Non-current lease liabilities 827 1,074 Lease liabilities 1,090 1,355 At July 31, 2021 the Group was committed to future undiscounted lease payments $nil million (2020: $nil million) relating to short term leases. Amounts charged/(credited) to the Group income statement during the year were as follows: 2021 2020 $m $m Depreciation of right of use assets 241 233 Impairment of right of use assets — 8 Short term lease expense 1 10 Low-value lease expense 15 16 Sublease income (2) (1) Charged to operating costs 255 266 Charged to finance costs 44 49 Total amount charged to the Group income statement 299 315

Property, plant and equipment

Property, plant and equipment	12 Months Ended
	Jul. 31, 2021
Disclosure of detailed information about property, plant and equipment [abstract]
Property, plant and equipment	Property, plant and equipment Land and buildings Freehold Finance Leasehold Plant and Other Total $m $m $m $m $m $m Cost At July 31, 2019 1,184 1 498 679 219 2,581 Adjustments on adoption of IFRS 16 — (1) — (2) (13) (16) On August 1, 2019 1,184 — 498 677 206 2,565 Exchange rate adjustment 5 — 5 8 4 22 Acquisitions 15 — — 4 — 19 Additions 127 — 11 70 6 214 Disposals and transfers 2 — (17) (40) (26) (81) Reclassification as held for sale (30) — — (1) — (31) At July 31, 2020 1,303 — 497 718 190 2,708 Exchange rate adjustment 3 — 3 4 2 12 Acquisitions 8 — 1 1 1 11 Additions 79 — 23 63 9 174 Disposals and transfers (4) — (27) (26) (19) (76) Reclassification as held for sale (70) — (74) (119) (40) (303) At July 31, 2021 1,319 — 423 641 143 2,526 Accumulated depreciation and impairment losses At July 31, 2019 278 — 338 475 141 1,232 Adjustments on adoption of IFRS 16 — — — (1) (9) (10) On August 1, 2019 278 — 338 474 132 1,222 Exchange rate adjustment 1 — 3 6 3 13 Depreciation charge for the year 36 — 34 62 22 154 Impairment charge for the year 1 — 2 2 — 5 Disposals — — (13) (36) (19) (68) Reclassification as held for sale (7) — — — — (7) At July 31, 2020 309 — 364 508 138 1,319 Exchange rate adjustment 1 — 2 2 1 6 Depreciation charge for the year 36 — 30 56 14 136 Disposals and transfers (1) — (21) (31) (6) (59) Reclassification as held for sale (18) — (45) (88) (30) (181) At July 31, 2021 327 — 330 447 117 1,221 Net book value at July 31, 2021 992 — 93 194 26 1,305 Net book value at July 31, 2020 994 — 133 210 52 1,389 The depreciation charge for the year includes $6 million (2020: $19 million) and the impairment charge for the year ended July 31, 2020 includes $1 million in respect of discontinued operations.

Deferred tax assets and liabili

Deferred tax assets and liabilities	12 Months Ended
	Jul. 31, 2021
Income Taxes [Abstract]
Deferred tax asset and liabilities	Tax The tax charge for the year comprises: 2021 2020 2019 $m $m $m Current year tax charge 394 294 306 Adjustments to tax charge in respect of prior years 19 (16) 4 Total current tax charge 413 278 310 Deferred tax (credit)/charge: origination and reversal of temporary differences (172) 39 (51) Total tax charge 241 317 259 The deferred tax credit of $172 million (2020: charge of $39 million and 2019: credit of $51 million) includes a credit of $29 million (2020: credit of $5 million and 2019: charge $4 million) resulting from changes in tax rates. The deferred tax credit is materially impacted by an accounting method change with respect to accounting for inventory in the USA. This has resulted in a recharacterization of deferred tax liabilities and increased current year tax charge for a net nil impact. A tax charge of $12 million (2020: credit $10 million and 2019: charge of $8 million) arises on the profit from discontinued operations. Tax on items charged to the Group statement of comprehensive income: 2021 2020 2019 $m $m $m Deferred tax (charge)/credit on remeasurement of retirement benefit plans (19) 44 6 Total tax on items (charge)/credit to the Group statement of comprehensive income (19) 44 6 Within the statement of other comprehensive income, there is a tax credit of $8 million (2020: $nil and 2019: $nil) relating to changes in tax rates. Tax on items credited to equity: 2021 2020 2019 $m $m $m Current tax credit on share-based payments 5 6 5 Deferred tax credit on share-based payments 4 5 1 Total tax on items credited to equity 9 11 6 There is no tax charge in the statement of changes in equity which relates to changes in tax rates in 2021, 2020, and 2019. The Group has made provisions for the liabilities likely to arise from open audits and assessments. At July 31, 2021, the Group has recognized provisions of $138 million (2020: $294 million and 2019: $254 million) in respect of its uncertain tax positions. The total provision has decreased by $156 million in the year primarily due to decreases related to closure of tax authority audits and the expiry of the statute of limitations for a number of open tax years. With respect to the remaining uncertain tax positions, although there is uncertainty regarding the timing of the resolution of these matters, management do not believe that the Group’s uncertain tax provisions constitute a major source of estimation uncertainty as they consider that there is no significant risk of a material change to its estimate of these provisions within the next 12 months. Total profit/tax from continuing operations 2021 2020 2019 Tax reconciliation: $m % $m % $m % Profit before tax 1,891 1,292 1,301 Expected tax at weighted average tax rate (1) (431) 22.8 (272) 21.0 (216) 16.6 Adjusted for the effects of: over/(under) provisions in respect of prior periods (2) 11 (0.6) (2) 0.2 (5) 0.4 current year credit/(charge) in relation to uncertain tax provisions (3) 138 (7.4) (33) 2.6 (35) 2.7 tax credits and incentives 12 (0.6) 6 (0.5) 4 (0.3) non-taxable income 18 (1.0) 8 (0.6) 3 (0.2) recognition of previously unrecognized deferred tax asset — — — — 11 (0.9) other (4) (18) 1.0 (29) 2.2 (17) 1.3 effect of tax rate changes (5) 29 (1.5) 5 (0.4) (4) 0.3 Tax (charge) / effective tax rate (241) 12.7 (317) 24.5 (259) 19.9 (1) This expected weighted average tax rate reflects the applicable statutory corporate tax rates on the accounting profits/losses in the countries in which the Group operates after intra-group financing. This results in interest deductions and lower taxable profits in many of the countries and therefore reduce the tax rate. (2) This includes adjustments arising out of movements in uncertain tax provisions regarding prior periods and differences between the final tax liabilities in the tax computations and the tax liabilities provided in the consolidated financial statements. (3) This reflects management’s assessment of the potential tax liability for the current year in relation to open tax issues and audits. (4) This primarily relates to non-taxable disposal of businesses and to certain expenditure for which no tax relief is available such as disallowable business entertaining costs and legal/professional fees. (5) In fiscal 2021, this relates to the change of the corporation tax rate to 25 percent from the previously enacted 19 percent in the UK. In fiscal 2020 and fiscal 2019, this relates to the change of the deferred tax rate to 19 percent from the previously enacted 17 percent in the UK. Deferred tax assets and liabilities, which are offset where the Group has a legally enforceable right to do so, are shown in the balance sheet after offset as follows: 2021 2020 $m $m Deferred tax assets 303 216 Deferred tax liabilities — (26) 303 190 The following are the major deferred tax assets and liabilities recognized by the Group and movements thereon during the current and prior reporting year: Goodwill Share- Property, Right of Lease Retirement Inventory Tax Method Changes Tax Trade Other Total $m $m $m $m $m $m $m $m $m $m $m $m At July 31, 2019 (74) 25 31 — — 40 (114) — 88 40 72 108 Adjustment on adoption of IFRS 16 — — — (298) 372 — — — — (5) — 69 At August 1, 2019 (74) 25 31 (298) 372 40 (114) — 88 35 72 177 Credit/(charge) to income 3 (2) (14) 27 (34) 1 5 — 11 (13) (13) (29) Credit to other comprehensive income — — — — — 44 — — — — — 44 Credit to equity — 5 — — — — — — — — — 5 Acquisitions (12) — 1 (4) 4 — — — — — — (11) Exchange rate adjustment — — 4 — — (1) — — 1 — — 4 At July 31, 2020 (83) 28 22 (275) 342 84 (109) — 100 22 59 190 Credit/(charge) to income 3 4 (5) 26 (42) (4) (19) 98 20 60 20 161 Charge to other comprehensive income — — — — — (19) — — — — — (19) Credit to equity — 4 — — — — — — — — — 4 Acquisitions (16) — — — — — 1 — 5 — — (10) Transfers to held for sale 6 (1) (17) 24 (25) — — — (17) — 1 (29) Transfers between categories — — — — — — 195 (195) — — — — Exchange rate adjustment — — 5 — — 1 — — — — — 6 At July 31, 2021 (90) 35 5 (225) 275 62 68 (97) 108 82 80 303 Legislation has been enacted in the UK to increase the standard rate of UK corporation tax from 19 percent to 25 percent with effect from April 2023. Accordingly, the UK deferred tax assets and liabilities have been calculated based on a tax rate which materially reflects the rate for the period in which the deferred tax assets and liabilities are expected to reverse. Net deferred tax assets have been recognized on the basis that sufficient taxable profits are forecast to be available in the future to enable them to be utilized. In addition, the Group has unrecognized gross tax losses totaling $404 million (2020: $369 million) that have not been recognized on the basis that their future economic benefit is uncertain. These losses have no expiry date and relate predominantly to capital losses.

Inventories

Inventories	12 Months Ended
	Jul. 31, 2021
Inventory Disclosure [Abstract]
Inventories	Inventories 2021 2020 $m $m Goods purchased for resale 3,607 3,089 Inventory provisions (181) (209) Net inventories 3,426 2,880

Trade and other receivables

Trade and other receivables	12 Months Ended
	Jul. 31, 2021
Receivables [Abstract]
Trade and other receivables	Trade and other receivables 2021 2020 $m $m Current Trade receivables 2,803 2,604 Less: provision for expected credit losses (17) (36) Net trade receivables 2,786 2,568 Other receivables 146 139 Prepayments 399 335 3,331 3,042 Non-current Other receivables 428 377 Included in prepayments is $344 million (2020: $289 million) due in relation to supplier rebates where there is no right of offset against trade payable balances. Trade receivables have been aged with respect to the payment terms specified in the terms and conditions established with customers. The loss allowance for trade receivables by aging category is as follows: At July 31, 2021 Amounts Less than More than Total $m $m $m $m Expected credit loss rate 0.3 % 0.5 % 100 % Gross trade receivables 1,820 977 6 2,803 Lifetime expected credit losses (6) (5) (6) (17) Net trade receivables 1,814 972 — 2,786 At July 31, 2020 Amounts Less than More than Total $m $m $m $m Expected credit loss rate 0.6 % 1.1 % 100 % Gross trade receivables 1,836 751 17 2,604 Lifetime expected credit losses (11) (8) (17) (36) Net trade receivables 1,825 743 — 2,568 No contracts contain a significant financing component. Payment from customers is typically due within 30 to 60 days.

Cash and cash equivalents

Cash and cash equivalents	12 Months Ended
	Jul. 31, 2021
Cash and cash equivalents [abstract]
Cash and cash equivalents	Cash and cash equivalents 2021 2020 $m $m Cash and cash equivalents 1,335 2,115 Included in the balance at July 31, 2021 is an amount of $36 million (2020: $248 million) which is part of the Group’s cash pooling arrangements where there is an equal and opposite balance included within bank overdrafts (note 19). These amounts are subject to a master netting arrangement.

Trade and other payables

Trade and other payables	12 Months Ended
	Jul. 31, 2021
Trade and other payables [abstract]
Trade and other payables	Trade and other payables 2021 2020 $m $m Current Trade payables 3,234 2,855 Tax and social security 92 114 Other payables 104 115 Accruals and deferred income 592 507 4,022 3,591 Non-current Other payables 342 338

Borrowings

Borrowings	12 Months Ended
	Jul. 31, 2021
Borrowings [abstract]
Borrowings	Borrowings 2021 2020 Current Non- Total Current Non- Total $m $m $m $m $m $m Bank overdrafts 183 — 183 248 — 248 Senior unsecured loan notes — 2,528 2,528 283 2,635 2,918 Total borrowings 183 2,528 2,711 531 2,635 3,166 At July 31, 2021 total 144A Bond debt was $1,350 million (2020: $1,350 million) which is held at par value. The carrying value of the Private Placement Notes of $1,178 million comprises a par value of $1,155 million and a fair value adjustment of $23 million from the application of hedge accounting (2020: $1,568 million, $1,530 million and $38 million respectively). The Group applies fair value hedge accounting to debt of $355 million (2020: $355 million), swapping fixed interest rates into floating interest rates using a series of interest rate swaps. Included in bank overdrafts at July 31, 2021 is an amount of $36 million (2020: $248 million) which is part of the Group’s cash pooling arrangements where there is an equal and opposite balance included within cash and cash equivalents (note 17). These amounts are subject to a master netting arrangement. In April 2020, Ferguson Finance Plc was approved as an eligible issuer under the Covid Corporate Financing Facility (“CCFF”), all commercial paper issued under the CCFF was fully repaid in June 2020 and as a result there are no balances recognized in the financial statements in the current or prior year. The Group did not utilize the funds that were previously drawn down under the facility and Ferguson Finance Plc’s CCFF eligibility expired in October 2020. There are no unfulfilled conditions or contingencies associated with the facility. No bank loans were secured against trade receivables and the trade receivables facility of $600 million was undrawn at July 31, 2021 and July 31, 2020. There have been no significant changes during the year to the Group’s policies on accounting for, valuing and managing the risk of financial instruments. These policies are summarized in note 1. Non-current loans are repayable as follows: 2021 2020 $m $m Due in one to two years 250 — Due in two to three years 55 250 Due in three to four years 150 150 Due in four to five years 400 150 Due in over five years 1,673 2,085 Total 2,528 2,635

Financial instruments and finan

Financial instruments and financial risk management	12 Months Ended
	Jul. 31, 2021
Disclosure of detailed information about financial instruments [abstract]
Financial instruments and financial risk management	Financial instruments and financial risk management Financial instruments by measurement basis The carrying value of financial instruments by category as defined by IFRS 9 “Financial Instruments” is as follows: 2021 2020(2) $m $m Financial assets Financial assets at fair value through profit and loss 353 307 Financial assets at fair value through other comprehensive income 18 12 Financial assets at amortized cost 3,372 3,114 Financial liabilities Financial liabilities at fair value through profit and loss 328 265 Financial liabilities at amortized cost 7,026 7,474 Financial instruments in the category “fair value through profit and loss” and “fair value through other comprehensive income” are measured in the balance sheet at fair value. Fair value measurements can be classified in the following hierarchy: • Quoted prices (unadjusted) in active markets for identical assets or liabilities (level 1). • Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly or indirectly (level 2). • Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs) (level 3). The Group’s derivatives relate principally to interest rate swaps to manage its exposure to interest rate movements on its borrowings. They are measured at fair value through profit and loss using forward interest curves which are level 2 inputs. The current element of derivative financial assets is $5 million (2020: $11 million) and the non-current element is $16 million (2020: $28 million). Total net derivative financial instruments is an asset of $21 million (2020: $39 million). No transfers between levels occurred during the current or prior year. The Group’s executive deferred compensation plan comprises a financial asset of $332 million (2020: $268 million) which is measured at fair value through profit and loss using level 1 inputs and a financial liability of $328 million (2020: $265 million) which is measured at fair value through profit and loss using level 2 inputs. The fair value of the liability is calculated with reference to the fair value of the associated asset. The financial asset is all classified as non-current. The current element of the financial liability is $31 million (2020: $13 million) and the non-current element is $297 million (2020: $252 million). No transfers between levels occurred during the current or prior year. The Group has made the irrevocable election to designate its investments in equity instruments as financial assets at fair value through other comprehensive income as this presentation is more representative of the nature of the Group’s investments. The fair value of the investments in the current year are measured using market derived valuation methods which utilize level 3 unobservable inputs compared to the prior year which utilized level 2 inputs. The investments are classified as non-current financial assets in the balance sheet. No dividends were received from these investments in the current and prior year. The Group’s other financial instruments are measured at amortized cost. Other receivables include an amount of $64 million (2020: $71 million) which has been discounted at a rate of 1.8 percent (2020: 1.0 percent) due to the long term nature of the receivable. Other current assets and liabilities are either of short maturity or bear floating rate interest and their fair values approximate to book values. The only non-current financial assets or liabilities for which fair value does not approximate to book value are the Private Placement Notes, which had a book value of $1,178 million (2020: $1,568 million) and a fair value (level 2) of $1,273 million (2020: $1,671 million), and the 144A Bonds which had a book value of $1,350 million (2020: $1,350 million) and a fair value (level 1) of $1,538 million (2020: $1,488 million). Disclosure of offsetting arrangements The financial instruments which have been offset in the financial statements are disclosed below: At July 31, 2021 Notes Gross (1) Offset (2) Financial (3) Cash (4) Net (5) $m $m $m $m $m Financial assets Non-current assets Derivative financial assets 16 — 16 — 16 Current assets Derivative financial assets 5 — 5 — 5 Cash and cash equivalents 17 1,335 — 1,335 (36) 1,299 1,356 — 1,356 (36) 1,320 Financial liabilities Current liabilities Borrowings 19 183 — 183 (36) 147 Non-current liabilities Borrowings 19 2,528 — 2,528 — 2,528 2,711 — 2,711 (36) 2,675 Total excluding lease liabilities 27 (1,355) — (1,355) — (1,355) At July 31, 2020 Notes Gross (1) Offset (2) Financial (3) Cash (4) Net (5) $m $m $m $m $m Financial assets Non-current assets Derivative financial assets 28 — 28 — 28 Current assets Derivative financial assets 19 (8) 11 — 11 Cash and cash equivalents 17 2,115 — 2,115 (248) 1,867 2,162 (8) 2,154 (248) 1,906 At July 31, 2020 Notes Gross (1) Offset (2) Financial (3) Cash (4) Net (5) $m $m $m $m $m Financial liabilities Current liabilities Derivative financial liabilities 8 (8) — — — Borrowings 19 531 — 531 (248) 283 Non-current liabilities Borrowings 19 2,635 — 2,635 — 2,635 3,174 (8) 3,166 (248) 2,918 Total excluding lease liabilities 27 (1,012) — (1,012) — (1,012) (1) The gross amounts of the recognized financial assets and liabilities under a master netting agreement, or similar arrangement. (2) The amounts offset in accordance with the criteria in IAS 32. (3) The net amounts presented in the Group balance sheet. (4) The amounts subject to a master netting agreement, or similar arrangement, not included in (3). (5) The net amount after deducting the amounts in (4) from the amounts in (3). Risk management policies The Group is exposed to market risks arising from its international operations and the financial instruments which fund them. The main risks arising from the Group’s financial instruments are foreign currency risk, interest rate risk and liquidity risk. The Group has well-defined policies for the management of these risks which have been consistently applied during the financial years ended July 31, 2021 and July 31, 2020. By the nature of its business, the Group also has trade credit and commodity price exposures, the management of which is delegated to the operating businesses. There has been no change since the previous year in the major financial risks faced by the Group. Policies for managing each of these risks are regularly reviewed and are summarized below. When the Group enters into derivative transactions (principally interest rate swaps and foreign exchange contracts), the purpose of such transactions is to hedge certain interest rate and currency risks arising from the Group’s operations and its sources of finance. It is, and has been throughout the period under review, the Group’s policy that no trading in financial instruments or speculative transactions be undertaken. Capital structure and risk management The capital structure of the Group consists of derivative financial assets/(liabilities), cash and cash equivalents, borrowings, and equity of the Group (comprising share capital, share premium and reserves). To assess the appropriateness of its capital structure based on current and forecast trading, the Group’s principal measure of financial gearing is the ratio of net debt to adjusted EBITDA. The Group aims to operate with investment grade credit metrics and keep this ratio within one to two times. Of the Group’s borrowing facilities, only the U.S. Private Placement debt contains a financial covenant limiting the ratio of net debt to adjusted EBITDA to 3.5:1. All other borrowing facilities and 144A Bond debt do not contain financial covenants. The Group’s sources of funding currently comprise cash flows generated from operations, equity contributed by shareholders and borrowings from banks and other financial institutions. In order to maintain or adjust the capital structure, the Group may pay a special dividend, return capital to shareholders, repurchase its own shares, issue new shares or sell assets to reduce debt. Credit risk The Group provides sales on credit terms to most of its customers. There is an associated risk that customers may not be able to pay outstanding balances. At July 31, 2021, the maximum exposure to credit risk was $2,786 million (2020: $2,568 million). Each of the Group’s businesses have established procedures in place to review and collect outstanding receivables. Significant outstanding and overdue balances are regularly reviewed and resulting actions are put in place on a timely basis. All of the major businesses use professional and dedicated credit teams, in some cases field-based. Appropriate provisions are made for debts that may be impaired on a timely basis. Concentration of credit risk in trade receivables is limited as the Group’s customer base is large and unrelated. Accordingly, the Group considers that there is no further credit risk provision required above the current provision for expected credit losses. The aging of trade receivables is detailed in note 16. The Group has cash balances deposited for short periods with financial institutions and enters into certain contracts (such as interest rate swaps) which entitle the Group to receive future cash flows from financial institutions. These transactions give rise to credit risk on amounts due from counterparties with a maximum exposure of $1,163 million (2020: $1,873 million). This risk is managed by setting credit and settlement limits for a panel of approved counterparties. The limits are approved by the Treasury Committee and ratings are monitored regularly. Liquidity risk The Group maintains a policy of ensuring sufficient borrowing headroom to finance all investment and capital expenditure included in its strategic plan, with an additional contingent safety margin. The group has estimated its anticipated contractual cash outflows (excluding interest income and income from derivatives), including interest payable in respect of its borrowings (excluding bank overdrafts) and lease liabilities, on an undiscounted basis. The principal assumptions are that floating rate interest is calculated using the prevailing interest rate at the balance sheet date and cash flows in foreign currency are translated using spot rates at the balance sheet date. These cash flows can be analyzed by maturity as follows: 2021 2020 Trade Debt Interest Total Trade Debt Interest Total $m $m $m $m $m $m $m $m Due in less than one year 3,188 263 130 3,581 2,889 561 148 3,598 Due in one to two years 31 507 116 654 34 291 131 456 Due in two to three years 25 257 103 385 20 507 117 644 Due in three to four years 18 295 93 406 15 345 103 463 Due in four to five years 19 491 79 589 14 286 92 392 Due in over five years 244 1,782 207 2,233 211 2,245 285 2,741 Total 3,525 3,595 728 7,848 3,183 4,235 876 8,294 The Group relies on continued access to funding in order to meet its operating obligations, to support the growth of the business and to make acquisitions when opportunities arise. Its sources of funding include cash flows generated by operations and borrowings from banks and other financial institutions. The Group holds a $1,100 million (2020: $1,100 million) revolving credit facility that matures in March 2026, a $500 million bilateral facility that matures in March 2022 (2020: $500 million), and a $600 million (2020: $600 million) securitization facility that matures in May 2024. This facility is secured against the assets of Ferguson Receivables, LLC, a wholly owned subsidiary of Ferguson Enterprises, LLC. The assets of Ferguson Receivables, LLC can only be used to settle the obligations of Ferguson Receivables, LLC and creditors of Ferguson Receivables, LLC have no recourse to the general credit of Ferguson plc or that of other Group subsidiaries. All facilities were undrawn at July 31, 2021 and July 31, 2020. The maturity profile of the Group’s undrawn facilities is as follows: 2021 2020 $m $m Less than one year 500 500 Between one and two years — 600 Between two and three years 600 — Between three and four years — — Between four and five years 1,100 1,100 After five years — — Total 2,200 2,200 At July 31, 2021, the Group has total available facilities, excluding bank overdrafts, of $4,728 million (2020: $5,118 million), of which $2,528 million is drawn (note 19) and $2,200 million is undrawn (2020: $2,918 million and $2,200 million, respectively). The Group does not have any debt factoring or supply chain financing arrangements. Foreign currency risk The Group has significant overseas businesses whose revenues are mainly denominated in the currencies of the countries in which the operations are located. Approximately 94 percent (2020: 95 percent and 2019: 93 percent) of the Group’s revenue is in U.S. dollars. Within each country it operates, the Group does not have significant transactional foreign currency cash flow exposures. However, those that do arise may be hedged with either forward contracts or currency options. The Group does not normally hedge profit translation exposure since such hedges have only a temporary effect. The Group’s policy is to adjust the currencies in which its derivative financial assets/(liabilities), cash and cash equivalents and borrowings, are denominated materially to match the currencies in which its trading profit is generated. The net effect of currency translation was to increase revenue by $60 million (2020: decrease by $25 million) and the net effect on trading profit was $nil (2020: $nil). These currency effects primarily reflect a movement of the average U.S. dollar exchange rate against Canadian dollars. Derivative financial assets/(liabilities), cash and cash equivalents and borrowings by currency were as follows: At July 31, 2021 At July 31, 2020 Derivatives Cash and Total Derivatives Cash and Total $m $m $m $m $m $m U.S. dollars 23 (1,640) (1,617) 39 (1,186) (1,147) Pounds sterling (1) 90 89 — (38) (38) Other currencies (1) 174 173 — 173 173 Total 21 (1,376) (1,355) 39 (1,051) (1,012) Net investment hedging Exchange differences arising from the translation of the net investment in foreign operations are recognized in the statement of comprehensive income and accumulated in the translation reserve. Gains and losses on those hedging instruments designated as hedges of the net investments in foreign operations are recognized in equity in the statement of comprehensive income and accumulated in the translation reserve to the extent that the hedging relationship is effective. The Group has net financial liabilities denominated in foreign currencies which have been designated as hedges of the net investment in its overseas subsidiaries. The principal value of those financial liabilities designated as hedges at the balance sheet date was $187 million (2020: $368 million and 2019: $327 million). The loss on translation of those financial instruments into U.S. dollars of $31 million (2020: $31 million and 2019: $36 million gain) has been taken to the statement of comprehensive income. There was no hedge ineffectiveness in the year. Interest rate risk At July 31, 2021, 85 percent (2020: 83 percent) of borrowings (excluding bank overdrafts) were at fixed rates. The Group borrows in the desired currencies principally at rates determined by reference to short term benchmark rates applicable to the relevant currency or market, such as LIBOR. Rates which reset at least every 12 months are regarded as floating rates and the Group then, if appropriate, considers interest rate swaps to generate the desired interest rate profile. The Group reviews deposits and borrowings by currency at Treasury Committee and Board meetings. The Treasury Committee gives prior approval to any variations from floating rate arrangements. The interest rate profile of the Group’s derivative financial assets/(liabilities), cash and cash equivalents and borrowings, including the effect of interest rate swaps is set out below: 2021 2020 Floating Fixed Total Floating Fixed Total $m $m $m $m $m $m U.S. dollars 533 (2,150) (1,617) 1,284 (2,431) (1,147) Pounds sterling 89 — 89 (38) — (38) Other currencies 173 — 173 173 — 173 Total 795 (2,150) (1,355) 1,419 (2,431) (1,012) The Group’s weighted average cost of debt is 4.5 percent. The Group holds issued fixed rate borrowings at July 31, 2021 of $2,505 million comprising 144A Bonds of $1,350 million and Private Placement Notes of $1,155 million (2020: $2,786 million, $1,350 million and $1,436 million respectively) and these carried a weighted average interest rate of 3.8 percent fixed for a weighted average duration of 6.6 years (2020: 3.7 percent for 7.0 years). The Group holds interest rate swap contracts comprising fixed interest receivable on $355 million of notional principal. These are designated as a fair value hedge against $355 million of Private Placement Notes swapping fixed interest for floating. These contracts expire between November 2023 and November 2026 and the fixed interest rates range between 3.3 percent and 3.5 percent. At July 31, 2021, there were $nil floating rate borrowings, excluding overdrafts. At July 31, 2020, floating rate borrowings, excluding overdrafts, had a weighted average interest rate of 1.7 percent. Monitoring interest rate and foreign currency risk

Provisions

Provisions	12 Months Ended
	Jul. 31, 2021
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract]
Provisions	Provisions Environmental Ferguson Restructuring Property Other Total $m $m $m $m $m $m At July 31, 2019 82 77 40 15 51 265 Adjustment on adoption of IFRS 16 — — (14) 14 (1) (1) On August 1, 2019 82 77 26 29 50 264 Utilized in the year (4) (20) (27) (1) (4) (56) Changes in discount rate 6 — — 1 — 7 (Credit)/charge for the year (1) 18 22 1 (10) 30 Acquisition of businesses 2 — — — — 2 Exchange rate adjustment 1 1 1 3 2 8 At July 31, 2020 86 76 22 33 38 255 Utilized in the year (4) (19) (8) (1) (3) (35) Changes in discount rate (5) — — — — (5) Charge/(credit) for the year 15 13 (1) — 3 30 Reclassified as held for sale (8) — (10) (33) (2) (53) Exchange rate adjustment — — 1 1 1 3 At July 31, 2021 84 70 4 — 37 195 Provisions have been analyzed between current and non-current as follows: At July 31, 2021 Environmental Ferguson Restructuring Property Other Total $m $m $m $m $m $m Current 20 20 2 — 30 72 Non-current 64 50 2 — 7 123 Total provisions 84 70 4 — 37 195 At July 31, 2020 Environmental Ferguson Restructuring Property Other Total $m $m $m $m $m $m Current 10 5 10 8 20 53 Non-current 76 71 12 25 18 202 Total provisions 86 76 22 33 38 255 The environmental and legal provision includes $64 million (2020: $72 million) for the estimated liability for asbestos litigation on a discounted basis using a long term discount rate of 1.8 percent (2020: 1.0 percent). This amount has been actuarially determined as at July 31, 2021 based on advice from independent professional advisers. The Group has insurance that covers asbestos litigation payments and settlements and based on a review of the insurance carriers and policies in place, the amount of performing insurance cover significantly exceeds the expected future claims. On that basis, it has been determined it is virtually certain the insurance will be recoverable and accordingly an insurance receivable of $64 million (2020: $71 million) has been recorded in other receivables. No material profit or cash flow impact is therefore expected to arise in the foreseeable future in respect of asbestos claims against the Group. Due to the nature of these provisions, the timing of any settlements is uncertain. Ferguson Insurance provisions represent an estimate, based on historical experience, of the ultimate cost of settling outstanding claims and claims incurred but not reported on certain risks retained by the Group (principally USA casualty and global property damage). Due to the nature of these provisions, the timing of any settlements is uncertain. Restructuring provisions include branch closure costs. The weighted average maturity of these obligations is approximately two years.

Retirement benefit obligations

Retirement benefit obligations	12 Months Ended
	Jul. 31, 2021
Disclosure of defined benefit plans [abstract]
Retirement benefit obligations	Retirement benefit obligations (i) Long-term benefit plans provided by the Group The principal UK defined benefit plan is the Wolseley Group Retirement Benefits Plan which provides benefits based on final pensionable salaries. The assets are held in separate trustee administered funds. The Group contribution rate is calculated on the Projected Unit Credit Method and agreed with an independent consulting actuary. The plan was closed to new entrants in 2009, it was closed to future service accrual in December 2013, when it was replaced by a defined contribution plan, and during October 2016, it was closed for future non-inflationary salary accrual. In 2017, the Group secured a buy-in insurance policy with Pension Insurance Corporation for the UK defined benefit plan. This policy covered all of the benefits provided by the plan to pensioner members at the time. The insurance asset is valued as exactly equal to the insured liabilities. The deferred members of the plan at the time were not covered by this policy. In 2019, the Group offered some deferred members of the UK defined benefit plan an enhanced transfer value to settle their benefits accrued under the plan. In 2021, prior to the disposal of the UK business, Wolseley UK Limited, the UK defined benefit plan was transferred to Ferguson UK Holdings Limited. The last triennial valuation for the UK defined benefit pension plan was done as at April 2019 and the deficit reduction funding payments agreed with the trustees as a result of this have been paid. The next triennial valuation is due in April 2022. The principal plans operated for USA employees are defined contribution plans, which are established in accordance with USA 401k rules. Companies contribute to both employee compensation deferral and profit sharing plans. In Canada, defined benefit plans and a defined contribution plan are operated. Most of the Canadian defined benefit plans are funded. The contribution rate is calculated on the Projected Unit Credit Method as agreed with independent consulting actuaries. The Group operates a number of smaller defined benefit and defined contribution plans providing pensions or other long term benefits such as long service or termination awards. Investment policy The Group’s investment strategy for its funded post-employment plans is decided locally and, if relevant, by the trustees of the plan and takes account of the relevant statutory requirements. The Group’s objective for the investment strategy is to achieve a target rate of return in excess of the increase in the liabilities, while taking an acceptable amount of investment risk relative to the liabilities. This objective is implemented by using specific allocations to a variety of asset classes that are expected over the long term to deliver the target rate of return. For the UK plan, the buy-in insurance policy represents approximately 28 percent of the plan assets. For the remaining assets, the strategy is to invest in such a way that the expected cash flows broadly match a high proportion of the plan’s expected liability cash flows by investing in predominately income-generating asset classes. The investment strategy is subject to regular review by the trustees of the plan in consultation with the Company. For the non-UK plans, the investment strategy is to invest predominantly in equities and bonds. Investment risk The present value of the UK defined benefit plan liability is calculated using a discount rate determined by reference to high quality corporate bond yields; if the actual return on plan assets is below this rate, it will decrease a net surplus or increase a net pension liability. Currently, the plan is predominately invested in fixed income debt instruments such as corporate and government bonds. Due to the long-term nature of the plan liabilities and the maturity of the plan, the trustees of the pension plan consider the investment allocation appropriate to provide protection against the inflation and interest risk inherent in the plan’s underlying liabilities. Interest risk A decrease in the bond interest rate will increase the UK plan liability and this will be partially offset by an increase in the value of the plan’s debt investments. Longevity risk The present value of the defined benefit obligation is calculated by reference to the best estimate of the mortality of the UK plan participants both during and after their employment. An increase in the life expectancy of the plan participants will increase the plan’s liability. (ii) Financial impact of plans As disclosed in the Group balance sheet 2021 2020 $m $m Non-current asset 108 — Non-current liability (12) (61) Net asset/(liability) 96 (61) 2021 2020 Analysis of Group balance sheet net asset/(liability) UK Non-UK Total UK Non-UK Total $m $m $m $m $m $m Fair value of plan assets 2,175 129 2,304 2,012 110 2,122 Present value of defined benefit obligations (2,067) (141) (2,208) (2,039) (144) (2,183) Net asset/(liability) 108 (12) 96 (27) (34) (61) Analysis of total expense recognized in the Group income statement 2021 2020 2019 $m $m $m Administrative costs 3 3 2 Settlement losses, past service costs and administrative costs — — 9 Charged to operating costs (note 9) 3 3 11 Charged/(credited) to finance costs (note 4) 2 (3) (5) Total expense recognized in the Group income statement 5 — 6 Expected employer contributions to the defined benefit plans for the year ending July 31, 2022 are $2 million. The remeasurement of the defined benefit net asset is included in the Group statement of comprehensive income. Analysis of amount recognized in the Group statement of comprehensive income 2021 2020 2019 $m $m $m The return on plan assets (excluding amounts included in net interest expense) 34 96 134 Actuarial gain/(loss) arising from changes in demographic assumptions 22 (62) 38 Actuarial gain/(loss) arising from changes in financial assumptions 20 (211) (210) Actuarial gain/(loss) arising from experience adjustments 31 (58) 2 Remeasurement of retirement benefit plans 107 (235) (36) Tax (charge)/credit (19) 44 6 Total amount recognized in the Group statement of comprehensive income 88 (191) (30) The cumulative amount of actuarial losses recognized in the Group statement of comprehensive income is $652 million (2020: $759 million and 2019: $524 million). The fair value of plan assets is as follows: 2021 2020 UK Non-UK Total UK Non-UK Total $m $m $m $m $m $m On August 1 2,012 110 2,122 1,788 116 1,904 Interest income 31 3 34 39 3 42 Employers’ contributions 55 1 56 15 — 15 Benefit payments (68) (9) (77) (64) (9) (73) Remeasurement gain: Return on plan assets (excluding amounts included in net interest expense) 18 16 34 94 2 96 Exchange rate adjustment 127 8 135 140 (2) 138 At July 31 2,175 129 2,304 2,012 110 2,122 Actual return on plan assets 49 19 68 133 5 138 Employers’ contributions included special funding contributions of $53 million (2020: $13 million). The plan assets were invested in a diversified portfolio comprised of: 2021 2020 UK Non-UK Total UK Non-UK Total $m $m $m $m $m $m Equity type assets quoted — 48 48 165 65 230 Government bonds quoted 492 40 532 566 23 589 Corporate bonds quoted 884 13 897 385 12 397 Cash 19 1 20 44 — 44 Insurance policies 602 — 602 609 — 609 Securitized fixed income assets 178 — 178 167 — 167 Other — 27 27 76 10 86 Total fair value of assets 2,175 129 2,304 2,012 110 2,122 The present value of defined benefit obligations is as follows: 2021 2020 UK Non-UK Total UK Non-UK Total $m $m $m $m $m $m On August 1 2,039 144 2,183 1,610 141 1,751 Current service costs (including administrative costs) 3 — 3 3 — 3 Interest cost 31 4 35 35 4 39 Benefit payments (68) (9) (77) (64) (9) (73) Remeasurement (gain)/loss: Actuarial (gain)/loss arising from changes in demographic assumptions (22) — (22) 62 — 62 Actuarial (gain)/loss arising from changes in financial assumptions (11) (9) (20) 202 9 211 Actuarial (gain)/loss arising from experience adjustments (31) — (31) 57 1 58 Exchange rate adjustment 126 11 137 134 (2) 132 At July 31 2,067 141 2,208 2,039 144 2,183 An analysis of the present value of defined benefit obligations by funding status is shown below: 2021 2020 $m $m Amounts arising from wholly unfunded plans 3 3 Amounts arising from plans that are wholly or partly funded 2,205 2,180 Total present value of defined benefit obligations 2,208 2,183 (iii) Valuation assumptions The financial assumptions used to estimate defined benefit obligations are: 2021 2020 UK Non-UK UK Non-UK % % % % Discount rate 1.7 2.9 1.5 2.4 Inflation rate 3.1 2.0 2.9 2.0 Increase to deferred benefits during deferment 2.4 n/a 2.1 n/a Increases to pensions in payment 3.0 2.0 2.6 2.0 Salary increases 2.4 n/a 2.1 2.5 The life expectancy assumptions used to estimate defined benefit obligations are: 2021 2020 UK Non-UK UK Non-UK Years Years Years Years Current pensioners (at age 65)—male 22 22 22 22 Current pensioners (at age 65)—female 25 25 25 24 Future pensioners (at age 65)—male 23 23 23 23 Future pensioners (at age 65)—female 25 26 26 26 The weighted average duration of the defined benefit obligation is 20.0 years (2020: 21.1 years). (iv) Sensitivity analysis The Group considers that the most sensitive assumptions are the discount rate, inflation rate and life expectancy. The sensitivity analyses below shows the (increase)/decrease in the Group’s defined benefit plan net asset/liability of reasonably possible changes of the respective assumptions occurring at the end of the reporting period, while holding all other assumptions constant. 2021 2020 Change UK Non-UK Change UK Non-UK $m $m $m $m Discount rate +0.25 % 85 4 +0.25 % 88 5 (0.25) % (89) (5) (0.25) % (96) (5) Inflation rate +0.25 % (77) — +0.25 % (85) — (0.25) % 78 3 (0.25) % 75 4 Life expectancy 1 year (70) (5) 1 year (56) (5)

Share capital

Share capital	12 Months Ended
	Jul. 31, 2021
Disclosure of classes of share capital [abstract]
Share capital	Share capital (i) Ordinary shares in issue 2021 2020 Allotted and issued shares Number of Cost Number of Cost $m $m Number/cost of ordinary 10 pence shares in the Company (million) 232 30 232 30 The authorized share capital of the Company is 500 million ordinary 10 pence shares (2020: 500 million ordinary 10 pence shares). All the allotted and issued shares, including those held by Employee Benefit Trusts and in Treasury, are fully paid or credited as fully paid. A summary of the movements in the year is detailed in the following table: 2021 2020 Number of ordinary 10 pence shares in the Company in issue at July 31 232,171,182 232,171,182 (ii) Treasury shares The shares purchased under the Group’s buy back programs have been retained in issue as Treasury shares and represent a deduction from equity attributable to shareholders of the Company. A summary of the movements in Treasury shares in the year is detailed in the following table: 2021 2020 Number of Cost Number of Cost $m $m Treasury shares held by the Company on August 1 7,280,222 570 2,036,945 146 Treasury shares purchased under irrevocable commitment from prior year — — 2,139,221 159 570 305 Treasury shares purchased 3,020,368 400 3,452,349 292 Disposal of Treasury shares to settle share options (437,774) (39) (348,293) (27) Treasury shares held by the Company at July 31 9,862,816 931 7,280,222 570 Consideration received in respect of shares transferred to participants in certain long term incentive plans and all-employee plans amounted to $18 million (2020: $11 million). (iii) Own shares Two Employee Benefit Trusts have been established in connection with the Company’s discretionary share option plans and long term incentive plans. A summary of the movements in own shares held in Employee Benefit Trusts is detailed in the following table: 2021 2020 Number of Cost Number of Cost $m $m Own shares in the Company on August 1 1,277,347 88 1,563,778 102 New shares purchased — — 307,345 26 Exercise of share options (444,158) (30) (593,776) (40) Own shares in the Company at July 31 833,189 58 1,277,347 88 Consideration received in respect of shares transferred to participants in the discretionary share option plans and long term incentive plans amounted to $nil (2020: $nil). At July 31, 2021, the shares held in the trusts had a market value of $117 million (2020: $114 million).

Reconciliation of profit to cas

Reconciliation of profit to cash generated from operations	12 Months Ended
	Jul. 31, 2021
Disclosure Of Reconciliation Of Profit To Operating Activities [Abstract]
Reconciliation of profit to cash generated from operations	Reconciliation of profit to cash generated from operations Profit for the year is reconciled to cash generated from continuing and discontinued operations as follows: 2021 2020 2019 $m $m $m Profit for the year attributable to shareholders 1,508 961 1,108 Net finance costs 146 144 70 Share of (profit)/loss after tax of associates (1) 2 (2) Gain on disposal of interests in associates and other investments — (7) (3) Impairment of interests in associates — 22 9 Tax charge 253 307 267 Loss/(gain) on disposal and closure of businesses and impairment of assets held for sale 184 3 (53) Amortization of acquired intangible assets 134 130 110 Amortization of non-acquired intangible assets 39 35 31 Depreciation and impairment of right of use assets 254 278 — Depreciation and impairment of property, plant and equipment 136 159 147 Gain on disposal of property, plant and equipment, and assets held for sale (3) (3) (7) (Increase)/decrease in inventories (825) 19 (172) (Increase)/decrease in trade and other receivables (769) 210 (132) Increase/(decrease) in trade and other payables 1,023 (9) 227 Decrease in provisions and other liabilities (57) (25) (25) Share-based payments 71 26 34 Cash generated from operations 2,093 2,252 1,609 Cash and (note 17) Bank Total cash, Derivative Loans (note 19) Obligations Total Lease Liabilities (note 12) Total $m $m $m $m $m $m $m $m $m At July 31, 2018 833 (375) 458 (2) (1,530) (6) (1,080) — (1,080) Cash movements Proceeds from loans and derivatives — (7) (750) — (757) — (757) Repayments of loans — — 2 — 2 — 2 Finance lease capital payments — — — 3 3 — 3 Changes due to disposal of businesses (1) — — — (1) — (1) Changes due to acquisition of businesses 11 — — (3) 8 — 8 Other cash flows 628 — — — 628 — 628 Non-cash movements Fair value and other adjustments — 25 (26) — (1) — (1) Exchange movements (10) 6 7 — 3 — 3 At July 31, 2019 1,133 (47) 1,086 22 (2,297) (6) (1,195) — (1,195) Adjustment on adoption of IFRS 16 — — — — — 6 6 (1,481) (1,475) At August 1, 2019 1,133 (47) 1,086 22 (2,297) — (1,189) (1,481) (2,670) Cash movements Proceeds from loans and derivatives — (7) (1,162) — (1,169) — (1,169) Repayments of loans — — 566 — 566 — 566 Lease liability capital payments (1) — — — — — 295 295 Interest paid on lease liabilities (1) — — — — — 53 53 Changes due to acquisition of businesses 6 — — — 6 — 6 Other cash flows 771 — — — 771 — 771 Non-cash movements Lease liability additions — — — — — (115) (115) Changes in lease liabilities due to acquisition of businesses — — — — — (30) (30) Discount unwinding on lease liabilities — — — — — (53) (53) Fair value and other adjustments — 28 (20) — 8 (16) (8) Exchange movements 4 (4) (5) — (5) (8) (13) At July 31, 2020 2,115 (248) 1,867 39 (2,918) — (1,012) (1,355) (2,367) Cash movements Proceeds from loans and derivatives — (4) — — (4) — (4) Repayments of loans — — 375 — 375 — 375 Lease liability capital payments (1) — — — — — 296 296 Interest paid on lease liabilities (1) — — — — — 46 46 Changes due to disposal of businesses (27) — — — (27) 133 106 Changes due to acquisition of businesses 13 — — — 13 — 13 Other cash flows (702) — — — (702) — (702) Non-cash movements Lease liability additions — — — — — (97) (97) Discount unwinding on lease liabilities — — — — — (46) (46) Changes in lease liabilities due to acquisition of businesses — — — — — (12) (12) Fair value and other adjustments — (13) 15 — 2 (44) (42) Exchange movements 1 (1) — — — (11) (11) At July 31, 2021 1,335 (183) 1,152 21 (2,528) — (1,355) (1,090) (2,445) (1) Total cash outflow in relation to leases including short term leases, leases of low value assets and sublease income in the year ended July 31, 2021, was $359 million (2020: $377 million).

Acquisitions

Acquisitions	12 Months Ended
	Jul. 31, 2021
Business Combinations [Abstract]
Acquisitions	Acquisitions The Group acquired the following businesses during the year ended July 31, 2021, which are all engaged in the distribution of plumbing and heating products and were acquired to support growth in the USA. All transactions have been accounted for by the acquisition method of accounting. Name Date of Country of Shares/asset Acquired % Old Dominion Supply, Inc. October 2020 USA Shares 100% Atlantic Construction Fabrics, Inc. November 2020 USA Assets 100% Nova Wildcat Amerock Holdings, Inc. January 2021 USA Shares 100% Clarksville Lighting & Appliance, LLC January 2021 USA Assets 100% The Kitchen Showcase, Inc. June 2021 USA Assets 100% Moore Industrial Supply July 2021 USA Assets 100% Canyon Pipe & Supply, Inc. July 2021 USA Assets 100% The assets and liabilities acquired and the consideration for all acquisitions in the year are as follows: 2021 2020 $m $m Intangible assets: Software — 13 Trade names and brands 17 34 Customer relationships 132 101 Other 15 3 Right of use assets 12 30 Property, plant and equipment 11 19 Inventories 51 58 Trade and other receivables 45 62 Cash, cash equivalents and bank overdrafts 13 6 Lease liabilities (12) (30) Trade and other payables (30) (28) Deferred tax (10) (11) Provisions — (2) Total 244 255 Goodwill arising 80 78 Consideration 324 333 Satisfied by: Cash 299 321 Deferred consideration 25 12 Total consideration 324 333 The fair values acquired are provisional figures, being the best estimates currently available. Further adjustments may be necessary when additional information is available for some of the judgmental areas. The goodwill arising on these acquisitions is attributable to the anticipated profitability of the new markets and product ranges to which the Group has gained access and additional profitability and operating efficiencies available in respect of existing markets. The acquisitions contributed $159 million to revenue, $9 million to segment trading profit, $10 million loss to the Group’s operating profit, $15 million loss to the Group’s profit before tax and $17 million loss to the Group’s profit after tax for the period between the date of acquisition and the balance sheet date. If each acquisition had been completed on the first day of the financial year, continuing revenue would have been $22,999 million, continuing trading profit would have been $2,195 million, continuing operating profit would have been $2,044 million, continuing profit before tax would have been $1,895 million and continuing profit after tax would have been $1,653 million. The net outflow of cash in respect of the purchase of businesses is as follows: 2021 2020 2019 $m $m $m Purchase consideration 299 321 656 Deferred and contingent consideration in respect of acquisitions from prior years 49 36 12 Cash consideration 348 357 668 Cash, cash equivalents and bank overdrafts acquired (13) (6) (11) Net cash outflow in respect of the purchase of businesses 335 351 657

Disposals

Disposals	12 Months Ended
	Jul. 31, 2021
Discontinued Operations And Disposal Groups [Abstract]
Disposals	Discontinued operations The Group disposed of the shares in its UK business, Wolseley UK Limited, on January 29, 2021 and during the year ended July 31, 2019, sold its remaining property assets in the Nordic region (together the “disposal group”). In accordance with IFRS 5 “Non-current Assets Held for Sale and Discontinued Operations”, the disposal group has been presented as a discontinued operation. The assets and liabilities of the UK business were transferred to assets held for sale during the year before being disposed of. The results from discontinued operations, which have been included in the Group income statement, are set out below: 2021 2020 2019 $m $m $m Revenue 1,138 1,879 2,281 Cost of sales (879) (1,440) (1,730) Gross profit 259 439 551 Operating costs: (loss)/gain on disposal of businesses (356) — 19 operating costs (205) (441) (479) other 174 (18) (21) Operating costs (387) (459) (481) Operating (loss)/profit (128) (20) 70 Net finance (costs)/income (2) (4) 4 (Loss)/profit before tax (130) (24) 74 Tax (charge)/credit (12) 10 (8) (Loss)/profit from discontinued operations (142) (14) 66 Basic earnings per share (63.6) ¢ (6.2) ¢ 28.7 ¢ Diluted earnings per share (63.2) ¢ (6.2) ¢ 28.5 ¢ The discontinued loss on disposal of businesses in fiscal 2021 comprises a loss on disposal of the UK business of $370 million generated from the recycling of cumulative translation adjustments and a gain on prior year disposals of $14 million. In fiscal 2021, discontinued other operating costs comprised a $63 million impairment of assets held for sale relating to the sale of the UK business, a $235 million gain from recycling of cumulative translation adjustments following the abandonment of former Group financing companies and a $2 million release relating to UK business restructuring in prior years. In fiscal 2020, discontinued other operating costs also included $18 million in restructuring costs incurred in the UK, including $3 million charged to cost of sales for inventory write-downs. In 2019, discontinued other operating costs primarily relates to business restructuring costs incurred in the UK in respect of their business transformation strategy. On January 29, 2021, the Group disposed of the shares in its UK business, Wolseley UK Limited. There were no other disposals in the year ended July 31, 2021. The Group recognized a total loss on disposals in the period of $356 million (2020: $nil million), which is comprised of a loss on the current period disposal of the UK business of $370 million (2020: $nil million) and a gain on prior year disposals of $14 million (2020: $nil million). The total loss is reported within discontinued operations. The loss on current period disposal is as follows: 2021 2020 $m $m Consideration received 422 — Net assets disposed of (390) — Disposal costs and provisions (32) — Recycling of deferred foreign exchange losses (370) — Current period loss on disposal (370) — Net assets disposed of were held in assets and liabilities held for sale. The net inflow of cash in respect of disposals of businesses related to discontinued operations is as follows: 2021 2020 2019 $m $m $m Cash consideration received for current period disposals (net of cash disposed of) 395 — 220 Cash consideration received in respect of prior year disposals 19 9 (2) Cash paid in respect of prior year disposals (2) (2) (16) Disposal costs paid (32) — (1) Net cash flow in respect of disposals of businesses 380 7 201

Changes in cash and cash equiva

Changes in cash and cash equivalents, bank overdrafts and liabilities arising from financing activities	12 Months Ended
	Jul. 31, 2021
Cash and cash equivalents [abstract]
Changes in cash and cash equivalents, bank overdrafts and liabilities arising from financing activities	Reconciliation of profit to cash generated from operations Profit for the year is reconciled to cash generated from continuing and discontinued operations as follows: 2021 2020 2019 $m $m $m Profit for the year attributable to shareholders 1,508 961 1,108 Net finance costs 146 144 70 Share of (profit)/loss after tax of associates (1) 2 (2) Gain on disposal of interests in associates and other investments — (7) (3) Impairment of interests in associates — 22 9 Tax charge 253 307 267 Loss/(gain) on disposal and closure of businesses and impairment of assets held for sale 184 3 (53) Amortization of acquired intangible assets 134 130 110 Amortization of non-acquired intangible assets 39 35 31 Depreciation and impairment of right of use assets 254 278 — Depreciation and impairment of property, plant and equipment 136 159 147 Gain on disposal of property, plant and equipment, and assets held for sale (3) (3) (7) (Increase)/decrease in inventories (825) 19 (172) (Increase)/decrease in trade and other receivables (769) 210 (132) Increase/(decrease) in trade and other payables 1,023 (9) 227 Decrease in provisions and other liabilities (57) (25) (25) Share-based payments 71 26 34 Cash generated from operations 2,093 2,252 1,609 Cash and (note 17) Bank Total cash, Derivative Loans (note 19) Obligations Total Lease Liabilities (note 12) Total $m $m $m $m $m $m $m $m $m At July 31, 2018 833 (375) 458 (2) (1,530) (6) (1,080) — (1,080) Cash movements Proceeds from loans and derivatives — (7) (750) — (757) — (757) Repayments of loans — — 2 — 2 — 2 Finance lease capital payments — — — 3 3 — 3 Changes due to disposal of businesses (1) — — — (1) — (1) Changes due to acquisition of businesses 11 — — (3) 8 — 8 Other cash flows 628 — — — 628 — 628 Non-cash movements Fair value and other adjustments — 25 (26) — (1) — (1) Exchange movements (10) 6 7 — 3 — 3 At July 31, 2019 1,133 (47) 1,086 22 (2,297) (6) (1,195) — (1,195) Adjustment on adoption of IFRS 16 — — — — — 6 6 (1,481) (1,475) At August 1, 2019 1,133 (47) 1,086 22 (2,297) — (1,189) (1,481) (2,670) Cash movements Proceeds from loans and derivatives — (7) (1,162) — (1,169) — (1,169) Repayments of loans — — 566 — 566 — 566 Lease liability capital payments (1) — — — — — 295 295 Interest paid on lease liabilities (1) — — — — — 53 53 Changes due to acquisition of businesses 6 — — — 6 — 6 Other cash flows 771 — — — 771 — 771 Non-cash movements Lease liability additions — — — — — (115) (115) Changes in lease liabilities due to acquisition of businesses — — — — — (30) (30) Discount unwinding on lease liabilities — — — — — (53) (53) Fair value and other adjustments — 28 (20) — 8 (16) (8) Exchange movements 4 (4) (5) — (5) (8) (13) At July 31, 2020 2,115 (248) 1,867 39 (2,918) — (1,012) (1,355) (2,367) Cash movements Proceeds from loans and derivatives — (4) — — (4) — (4) Repayments of loans — — 375 — 375 — 375 Lease liability capital payments (1) — — — — — 296 296 Interest paid on lease liabilities (1) — — — — — 46 46 Changes due to disposal of businesses (27) — — — (27) 133 106 Changes due to acquisition of businesses 13 — — — 13 — 13 Other cash flows (702) — — — (702) — (702) Non-cash movements Lease liability additions — — — — — (97) (97) Discount unwinding on lease liabilities — — — — — (46) (46) Changes in lease liabilities due to acquisition of businesses — — — — — (12) (12) Fair value and other adjustments — (13) 15 — 2 (44) (42) Exchange movements 1 (1) — — — (11) (11) At July 31, 2021 1,335 (183) 1,152 21 (2,528) — (1,355) (1,090) (2,445) (1) Total cash outflow in relation to leases including short term leases, leases of low value assets and sublease income in the year ended July 31, 2021, was $359 million (2020: $377 million).

Related party transactions

Related party transactions	12 Months Ended
	Jul. 31, 2021
Related party transactions [abstract]
Related party transactions	Related party transactions The Group purchases goods and services from companies which are indirect wholly owned subsidiaries of companies which are controlled or significantly influenced by persons who are also Ferguson Non-Executive Directors. In the year ended July 31, 2021, the Group purchased goods and services totaling $24 million (2020: $18 million and 2019: $7 million) from and owed $nil (2020: $nil and 2019: $nil) to these companies. The goods and services are purchased on an arm’s-length basis. The Group made a donation of $2 million (2020: $nil and 2019: $nil) to a charity which has a board member who is a related party of the Group. As at July 31, 2021, the Group has committed to donate a further $1 million (2020: $nil) to this charity.

Contingent liabilities

Contingent liabilities	12 Months Ended
	Jul. 31, 2021
Disclosure of contingent liabilities [abstract]
Contingent liabilities	Contingent liabilities Group companies are, from time to time, subject to certain claims and litigation arising in the normal course of business in relation to, among other things, the products that they supply, contractual and commercial disputes and disputes with employees. Provision is made if, on the basis of current information and professional advice, liabilities are considered likely to arise. In the case of unfavorable outcomes, the Group may benefit from applicable insurance protection. Warranties and indemnities in relation to business disposals Over the past few years, the Group has disposed of a number of non-core businesses and various Group companies have provided certain standard warranties and indemnities to acquirers and other third parties. Provision is made where the Group considers that a liability is likely to crystallize, though it is possible that claims in respect of which no provision has been made could crystallize in the future. Group companies have also made contractual commitments for certain property and other obligations which could be called upon in an event of default. As at the date of this report, appropriate provisions have been made in respect of claims relating to businesses disposed of. Environmental liabilities The operations of certain Group companies are subject to specific environmental regulations. From time to time, the Group conducts preliminary investigations through third parties to assess potential soil or groundwater contamination of sites. Where an obligation to remediate contamination arises, this is provided for, though future liabilities could arise from sites for which no provision is made. Outcome of claims and litigation

Events after reporting period

Events after reporting period	12 Months Ended
	Jul. 31, 2021
Disclosure of events after reporting period [Abstract]
Events after reporting period	Events after the reporting period There are no post-balance sheet events requiring disclosure under IAS 10 “Events after the Reporting Period”.

List of accounting policies (Po

List of accounting policies (Policies)	12 Months Ended
	Jul. 31, 2021
Accounting Policies [Abstract]
Basis of preparation	Basis of preparation The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as adopted by the European Union, including interpretations issued by the International Accounting Standards Board (“IASB”) and its committees. Ferguson plc is a public company limited by shares incorporated in Jersey under the Companies (Jersey) Law 1991 (as amended) and is headquartered in the UK. It operates as the ultimate parent company of the Group. Its registered office is 13 Castle Street, St Helier, Jersey, JE1 1ES, Channel Islands. The consolidated financial statements have been prepared on a going concern basis and under the historical cost convention as modified by the revaluation of financial assets and liabilities measured at fair value. The Group disposed of its UK business on January 29, 2021. The results of the UK business have been reclassified to discontinued operations and the prior year comparative results have been restated throughout the consolidated financial statements. See Note 6 or further details.
Accounting developments and changes	Accounting developments and changes The following other standards and amendments to existing standards became effective for the year ended July 31, 2021 and have not had a material impact on the Group’s consolidated financial statements: • Amendments to References to the Conceptual Framework in IFRS Standards; • Amendments to IAS 1 and IAS 8 – Definition of Material; • Amendments to IFRS 3 – Definition of a Business; • Amendments to IFRS 9, IAS 39 and IFRS 7 – Interest Rate Benchmark Reform (Phase 1); and • Amendments to IFRS 16 – COVID-19-Related Rent Concessions Other standards and amendments to existing standards that have been issued but not yet adopted are not expected to have a material impact on the Group’s consolidated financial statements.
Leases	Leases Property leases entered into by the Group typically include extension and termination options to provide operational flexibility to the Group. Management applied significant judgment in determining whether these options were reasonably certain to be exercised when determining the lease term on adoption of IFRS 16. In making this judgment management considered the remaining lease term, future business plans and other relevant economic factors. Specifically in respect to property leases, which represent the majority of the lease liability, a renewal option was determined to be reasonably certain to be exercised when a lease expired within the Group’s three-year strategic planning horizon. Leases The Group enters into leases in the normal course of its business; these principally relate to property for the Group’s branches, distribution centers and offices which have varying terms including extension and termination options and periodic rent reviews. The Group recognizes a right of use asset and a lease liability at the lease commencement date. Non-lease components of a contract are not separated from lease components and instead are accounted for as a single lease component. Lease liabilities are initially measured at the present value of lease payments using the interest rate implicit in the lease, or if this is not readily available, at the Group’s incremental borrowing rate. Lease payments comprise fixed payments, variable payments that depend on an index or rate, payments expected under residual value guarantees and payments under purchase and termination options which are reasonably certain to be exercised. Lease terms are initially determined as the non-cancelable period of a lease adjusted for options to extend or terminate a lease that are reasonably certain to be exercised and management judgment is required in making this determination. Lease liabilities are subsequently measured at amortized cost using the effective interest method. Lease liabilities are remeasured when there is a change in future lease payments as a result of a rent review or a change in an index or rate, or if there is a significant event which changes the assessment of whether it is reasonably certain that extension or termination options will be exercised. Right of use assets are carried at cost less accumulated depreciation and impairment losses and any subsequent remeasurement of the lease liability. Initial cost comprises the lease liability adjusted for lease payments at or before the commencement date, lease incentives received, initial direct costs and an estimate of restoration costs. Right of use assets are depreciated on a straight-line basis to the earlier of the end of the useful life of the asset or the end of the lease term and tested for impairment if an indicator exists. Leases that have a term of 12 months or less and leases for which the underlying asset is of low value are recognized as an expense on a straight-line basis over the lease term. Operating leases (applicable for the year ended July 31, 2019) Leases where the lessor retains substantially all the risks and rewards of ownership are classified as operating leases. The cost of operating leases (net of any incentives received from the lessor) is charged to the income statement on a straight line basis over the period of the leases.
Pension and other post-retirement benefits	Pensions and other post-retirement benefits The Group operates defined benefit pension plans in Canada and the UK that are accounted for using methods that rely on actuarial assumptions to estimate costs and liabilities for inclusion in the consolidated financial statements. The discount rate used is set with reference to the yield at the valuation date on high-quality corporate bonds that have a maturity approximating to the terms of the pension obligations. Significant judgment is required when selecting the bonds to include. The most significant criteria considered for selection of the bonds include the issue size of the corporate bonds, the quality of the bonds and the identification of outliers which are excluded. Retirement benefit obligations Contributions to defined contribution pension plans and other post-retirement benefits are recorded within operating profit. For defined benefit pension plans and other post-retirement benefits, the cost of providing benefits is determined annually using the Projected Unit Credit Method by independent qualified actuaries. The current and past service cost of defined benefit pension plans is recorded within operating profit. The net interest amount is calculated by applying the discount rate to the defined benefit net asset or liability at the beginning of the period. The pension plan net interest is presented as finance income or expense. Actuarial gains and losses arising from experience adjustments. Changes in actuarial assumptions and the return from pension plan assets, excluding amounts recorded in net interest on the net pension plan liability/asset are charged or credited to equity in other comprehensive income in the period in which they arise.
Sources of estimation uncertainty	Sources of estimation uncertainty In applying the Group’s accounting policies, various transactions and balances are valued using estimates or assumptions. Should these estimates or assumptions prove incorrect there may be an impact on the following year’s financial statements. Management believes that the estimates and assumptions that have been applied would not give rise to a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
Basis of consolidation	Basis of consolidation The consolidated financial information includes the results of the parent company and entities controlled by the Company (its subsidiary undertakings and controlling interests) and its share of profit/(loss) after tax of its associates using the equity method of accounting. The financial performance of business operations is included in profit from continuing operations from the date of acquisition and up to the date of classification as a discontinued operation or sale.
Discontinued operations	Discontinued operations When the Group has disposed of, or classified as held for sale, a business component that represents a separate major line of business or geographical area of operations, it classifies such operations as discontinued in accordance with IFRS 5 “Non-current Assets Held for Sale and Discontinued Operations”. The post-tax profit or loss of the discontinued operations are shown as a single line on the face of the income statement separate from the other results of the Group.
Foreign currencies	Foreign currencies Items included in the financial statements of the parent and of each of the Group’s subsidiary undertakings are measured using the currency of the primary economic environment in which the subsidiary undertaking operates (the “functional currency”). The consolidated financial statements are presented in U.S. dollars, which is the presentational currency of the Group. The trading results of overseas subsidiary undertakings are translated into U.S. dollars using the average rates of exchange ruling during the relevant financial period. The balance sheets of overseas subsidiary undertakings are translated into U.S. dollars at the rates of exchange ruling at the year-end. Exchange differences arising on the translation into U.S. dollars of the net assets of these subsidiary undertakings are recognized in other comprehensive income and accumulated in the translation reserve. At July 31, 2021, the translation reserve comprised $213 million in relation to pound sterling entities, $181 million in relation to U.S. dollar entities and $4 million in relation to entities denominated in other currencies. In the event that a subsidiary undertaking which has a non-U.S. dollar functional currency is disposed of, the gain or loss on disposal recognized in the income statement is determined after taking into account the cumulative currency translation differences that are attributable to the subsidiary undertaking concerned.
Business combinations	Business combinations The cost of an acquisition is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date, irrespective of the extent of any non-controlling interest. Costs related to acquisitions are expensed as incurred.
Interests in associates	Interests in associates Investments in companies where significant influence is exercised are accounted for as interests in associates using the equity method of accounting from the date the investee becomes an associate. The investment is initially recognized at cost and adjusted thereafter for changes in the Group’s share in the net assets of the investee. The Group’s share of profit or loss after tax is recognized in the Group income statement and share of other comprehensive income or expense is recognized in the Group statement of other comprehensive income.
Revenue	Revenue The Group’s revenues are derived primarily from the sale of a broad range of plumbing and heating products. The Group’s customers predominantly operate within the repair, maintenance and improvement sector and are served through a network of branches and distribution centers. Revenue is the consideration expected to be received in exchange for the provision of goods falling within the Group’s ordinary activities, excluding intra-group sales, estimated and actual sales returns, trade and early settlement discounts, Value Added Tax and similar sales taxes. Revenue from the sale of goods is recognized when the customer obtains control of the goods, which is the point they are delivered to, or collected by, the customer. Revenue from the provision of goods is only recognized when the transaction price is determinable and it is probable that the entity will collect the consideration to which it will be entitled in exchange for the goods to be transferred to the customer. Payment terms between the Group and its customers vary by the type of customer, country of sale and the products sold. The Group does not have significant financing components in its contracts and the payment due date is typically shortly after sale. In some instances, goods are delivered directly to the customer by the supplier. The Group has concluded it is the principal in these transactions as it is primarily responsible to the customer for fulfilling the obligation and has the responsibility for identifying and directing the supplier to deliver the goods to the customer.
Cost of sales	Cost of sales Cost of sales includes purchased goods and the cost of bringing inventory to its present location and condition.
Supplier rebates	Supplier rebates In line with industry practice, the Group has agreements (“supplier rebates”) with a number of its suppliers whereby volume-based rebates, marketing support and other discounts are received in connection with the purchase of goods for resale from those suppliers. Rebates relating to the purchase of goods for resale are accrued as earned and are recorded initially as a deduction in inventory with a subsequent reduction in cost of sales when the related product is sold. Volume-based supplier rebates The majority of volume-based supplier rebates are determined by reference to guaranteed rates of rebate. These are calculated through a mechanical process with minimal judgment required to determine the amount recorded in the income statement. A small proportion of volume-based supplier rebates are subject to tiered targets where the rebate percentage increases as volumes purchased reach agreed targets within a set period of time. The majority of rebate agreements apply to purchases in a calendar year and therefore, for tiered rebates, judgment is required to estimate the rebate amount recorded in the income statement at the end of the period. The Group assesses the probability that targeted volumes will be achieved in the year based on forecasts which are informed by historical trading patterns, current performance and trends. This judgment is exercised consistently with historically insignificant true ups at the end of the period. An amount due in respect of supplier rebates is not recognized within the income statement until all the relevant performance criteria, where applicable, have been met and the goods have been sold to a third party. Other rebates The Group has also entered into other rebate agreements which represent a smaller element of the Group’s overall supplier rebates, which are recognized in the income statement when all performance conditions have been fulfilled. Supplier rebates receivable
Goodwill	Goodwill Goodwill represents the excess of the cost of an acquisition over the fair value of the Group’s share of the net identifiable assets of the acquired subsidiary undertaking at the date of acquisition. Goodwill on acquisitions of subsidiary undertakings is included within intangible assets. Goodwill is allocated to cash generating units or aggregations of cash generating units (together “CGUs”) where synergy benefits are expected. CGUs are independent sources of income streams and represent the lowest level within the Group at which the associated goodwill is monitored for management purposes. The Group’s CGUs are based on the markets where the business operates and are grouped in line with the management structure.
Other intangible assets	Other intangible assets An intangible asset, which is an identifiable non-monetary asset without physical substance, is recognized to the extent that it is probable that the expected future economic benefits attributable to the asset will flow to the Group and that its cost can be measured reliably. The asset is deemed to be identifiable when it is separable or when it arises from contractual or other legal rights. Intangible assets, primarily brands, trade names and customer relationships, acquired as part of a business combination are capitalized separately from goodwill and are carried at cost less accumulated amortization and accumulated impairment losses. Amortization is calculated using the reducing balance method for customer relationships and the straight-line method for other intangible assets. The cost of the intangible assets is amortized and charged to operating costs in the income statement over their estimated useful lives as follows: Customer relationships 4 – 25 years Trade names and brands 1 – 15 years Other 1 – 4 years three
Property, plant and equipment ("PPE")	Property, plant and equipment (“PPE”) PPE is carried at cost less accumulated depreciation and accumulated impairment losses, except for land and assets in the course of construction, which are not depreciated and are carried at cost less accumulated impairment losses. Cost includes expenditure that is directly attributable to the acquisition of the items. In addition, subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. All other repairs and maintenance costs are charged to the income statement during the financial period in which they are incurred. Assets are depreciated to their estimated residual value using the straight-line method over their estimated useful lives as follows: Freehold buildings 20 - 50 years Leasehold improvements over the period of the lease Plant and machinery 7 - 10 years Computer hardware 3 - 5 years Fixtures and fittings 5 - 7 years Motor vehicles 4 years The residual values and estimated useful lives of PPE are reviewed and adjusted if appropriate at each balance sheet date. The Group reviews at the balance sheet date whether events or circumstances indicate that the carrying value of its PPE may be impaired. If such circumstances are determined to exist, an estimate of the recoverable amount of the asset, or the appropriate grouping of assets, is compared to its carrying value to determine whether an impairment exists.
Inventories	Inventories Inventories, which comprise goods purchased for resale, are stated at the lower of cost and net realizable value. Cost is determined using the first-in, first-out (“FIFO”) method or the average cost method as appropriate to the nature of the transactions in those items of inventory. The cost of goods purchased for resale includes import and custom duties, transport and handling costs, freight and packing costs and other attributable costs less trade discounts, rebates and other subsidies. It excludes borrowing costs. Net realizable value is the estimated selling price in the ordinary course of business, less applicable variable selling expenses.
Trade receivables	Trade receivables Trade receivables are recognized initially at their transaction price and measured subsequently at amortized cost using the effective interest method, less the loss allowance. The loss allowance for trade receivables is measured at an amount equal to lifetime expected credit losses, estimated based on historical write-offs adjusted for forward-looking information where appropriate. A loss allowance of 100 percent is recognized against trade receivables more than 180 days past due because historical experience indicates that these are generally not recoverable. The loss is recognized in the income statement. Trade receivables are written off when recoverability is assessed as being remote. Subsequent recoveries of amounts previously written off are credited to the income statement.
Provisions	Provisions Provisions for self-insured risks, legal claims and environmental restoration are recognized when the Group has a present legal or constructive obligation as a result of past events, it is more likely than not that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated. Such provisions are measured at the present value of management’s best estimate of the expenditure required to settle the present obligation at the balance sheet date. The discount rate used to determine the present value reflects current market assessments of the time value of money. Provisions are not recognized for future operating losses.
Tax	Tax Current tax represents the expected tax payable (or recoverable) on the taxable income (or losses) for the year using tax rates enacted or substantively enacted at the balance sheet date and taking into account any adjustments arising from prior years. Deferred tax is provided in full, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements. Deferred tax is not accounted for if it arises from initial recognition of an asset or liability in a transaction, other than a business combination, that at the time of the transaction affects neither accounting nor taxable profit or loss. Deferred tax is determined using tax rates that have been enacted or substantively enacted by the balance sheet date and are expected to apply when the related deferred tax asset is realized or the deferred tax liability is settled. Deferred tax assets are recognized to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilized. Deferred tax is provided on temporary differences arising on investments in subsidiaries except where the timing of the reversal of the temporary difference is controlled by the Group and it is probable that the temporary difference will not reverse in the foreseeable future.
Share capital	Share capital Where the Company purchases the Company’s equity share capital (Treasury shares), the consideration paid, including any directly attributable incremental costs (net of tax), is deducted from equity attributable to shareholders of the Company until the shares are cancelled, reissued or disposed of. Where such shares are subsequently sold or reissued, any consideration received, net of any directly attributable incremental transaction costs and the related tax effects, is included in equity attributable to shareholders of the Company.
Share-based payments	Share-based payments Share-based incentives are provided to associates under the Group’s long term incentive plans and all-employee sharesave plans. The Group recognizes a compensation cost in respect of these plans that is based on the fair value of the awards, measured using Binomial and Monte Carlo valuation methodologies. For equity-settled plans, the fair value is determined at the date of grant (including the impact of any non-vesting conditions such as a requirement for employees to save) and is not subsequently remeasured unless the conditions on which the award was granted are modified. For cash-settled plans, the fair value is determined at the date of grant and is remeasured at each balance sheet date until the liability is settled. Generally, the compensation cost is recognized on a straight-line basis over the vesting period. Adjustments are made to reflect expected and actual forfeitures during the vesting period due to the failure to satisfy service conditions or non-market performance conditions.
Dividends payable	Dividends payable Dividends on ordinary shares are recognized in the Group’s consolidated financial statements in the period in which the dividends are approved by the shareholders of the Company or paid.
Cash and cash equivalents	Cash and cash equivalents Cash and cash equivalents includes cash in-hand, deposits held at call with banks with original maturities of three months or less and bank overdrafts to the extent there is a legal right of offset and practice of net settlement with cash balances. Bank overdrafts are shown within borrowings in current liabilities on the balance sheet to the extent that there is no legal right of offset and no practice of net settlement with cash balances.
Derivative financial instruments	Derivative financial instruments Derivative financial instruments, in particular interest rate swaps and foreign exchange swaps, are used to manage the financial risks arising from the business activities of the Group and the financing of those activities. There is no trading activity in derivative financial instruments. At the inception of a hedging transaction involving the use of derivative financial instruments, the Group documents the relationship between the hedged item and the hedging instrument together with its risk management objective and the strategy underlying the proposed transaction. The Group also documents its assessment, both at the inception of the hedging relationship and subsequently on an ongoing basis, of the effectiveness of the hedge in offsetting movements in the fair values or cash flows of the hedged items. Derivative financial instruments are recognized as assets and liabilities measured at their fair values at the balance sheet date. Where derivative financial instruments do not fulfil the criteria for hedge accounting contained in IFRS 9, changes in their fair values are recognized in the income statement. When hedge accounting is used, the relevant hedging relationships are classified as fair value hedges, cash flow hedges or net investment hedges.
Borrowings	Borrowings Borrowings are recognized initially at the fair value of the consideration received net of transaction costs incurred. Borrowings are subsequently measured at amortized cost with any difference between the initial amount and the maturity amount being recognized in the income statement using the effective interest method.

Accounting policies (Tables)

Accounting policies (Tables)	12 Months Ended
	Jul. 31, 2021
Accounting Policies [Abstract]
Summary of intangible assets estimated useful lives	The cost of the intangible assets is amortized and charged to operating costs in the income statement over their estimated useful lives as follows: Customer relationships 4 – 25 years Trade names and brands 1 – 15 years Other 1 – 4 years
Summary of estimated useful lives of depreciable assets	Assets are depreciated to their estimated residual value using the straight-line method over their estimated useful lives as follows: Freehold buildings 20 - 50 years Leasehold improvements over the period of the lease Plant and machinery 7 - 10 years Computer hardware 3 - 5 years Fixtures and fittings 5 - 7 years Motor vehicles 4 years Land and buildings Freehold Finance Leasehold Plant and Other Total $m $m $m $m $m $m Cost At July 31, 2019 1,184 1 498 679 219 2,581 Adjustments on adoption of IFRS 16 — (1) — (2) (13) (16) On August 1, 2019 1,184 — 498 677 206 2,565 Exchange rate adjustment 5 — 5 8 4 22 Acquisitions 15 — — 4 — 19 Additions 127 — 11 70 6 214 Disposals and transfers 2 — (17) (40) (26) (81) Reclassification as held for sale (30) — — (1) — (31) At July 31, 2020 1,303 — 497 718 190 2,708 Exchange rate adjustment 3 — 3 4 2 12 Acquisitions 8 — 1 1 1 11 Additions 79 — 23 63 9 174 Disposals and transfers (4) — (27) (26) (19) (76) Reclassification as held for sale (70) — (74) (119) (40) (303) At July 31, 2021 1,319 — 423 641 143 2,526 Accumulated depreciation and impairment losses At July 31, 2019 278 — 338 475 141 1,232 Adjustments on adoption of IFRS 16 — — — (1) (9) (10) On August 1, 2019 278 — 338 474 132 1,222 Exchange rate adjustment 1 — 3 6 3 13 Depreciation charge for the year 36 — 34 62 22 154 Impairment charge for the year 1 — 2 2 — 5 Disposals — — (13) (36) (19) (68) Reclassification as held for sale (7) — — — — (7) At July 31, 2020 309 — 364 508 138 1,319 Exchange rate adjustment 1 — 2 2 1 6 Depreciation charge for the year 36 — 30 56 14 136 Disposals and transfers (1) — (21) (31) (6) (59) Reclassification as held for sale (18) — (45) (88) (30) (181) At July 31, 2021 327 — 330 447 117 1,221 Net book value at July 31, 2021 992 — 93 194 26 1,305 Net book value at July 31, 2020 994 — 133 210 52 1,389

Segment analysis (Tables)

Segment analysis (Tables)	12 Months Ended
	Jul. 31, 2021
Disclosure of operating segments [abstract]
Disclosure of geographical areas	An analysis of segment revenue from external customers is as follows: 2021 2020 2019 $m $m $m USA 21,478 18,857 18,358 Canada and Central Europe 1,314 1,083 1,371 Revenue from external customers 22,792 19,940 19,729 There is no revenue from inter-segment transactions. An additional disaggregation of revenue by end market is as follows: 2021 2020 2019 $m $m $m Residential 11,990 10,087 9,599 Commercial 6,661 6,116 6,054 Civil/Infrastructure 1,506 1,315 1,212 Industrial 1,321 1,339 1,493 USA 21,478 18,857 18,358 Canada and Central Europe 1,314 1,083 1,371 Continuing operations 22,792 19,940 19,729 Geographical information on non-current assets is set out in the table below. Non-current assets includes goodwill, other intangible assets, right of use assets, property, plant and equipment and interests in associates. 2021 2020 $m $m USA 4,242 4,134 Canada 263 255 UK 3 357 Group 4,508 4,746 2021 Additions to Additions to other acquired intangible assets and interests in associates Additions to Additions to right of use assets Additions to property, plant and equipment $m $m $m $m $m USA 80 164 66 84 165 Canada — — 4 8 5 Total reportable segments 80 164 70 92 170 Discontinued operations — — 2 2 4 Group 80 164 72 94 174 2020 Additions to Additions to other Additions to Additions to right of use assets Additions to $m $m $m $m $m USA 66 107 79 86 199 Canada — — 3 10 2 Total reportable segments 66 107 82 96 201 Discontinued operations 12 31 5 19 13 Group 78 138 87 115 214 2021 Impairment of Amortization of Amortization Depreciation and Depreciation and $m $m $m $m $m USA — 131 34 224 123 Canada — — 2 16 7 Total reportable segments — 131 36 240 130 Central and other costs — — 1 1 — Discontinued operations — 3 2 13 6 Group — 134 39 254 136 2020 Impairment of Amortization of Amortization Depreciation and Depreciation and $m $m $m $m $m USA — 113 26 226 131 Canada — 1 2 14 7 Total reportable segments — 114 28 240 138 Central and other costs 22 — 1 1 1 Discontinued operations — 16 6 37 20 Group 22 130 35 278 159
Disclosure of disaggregation of revenue by end market	An additional disaggregation of revenue by end market is as follows: 2021 2020 2019 $m $m $m Residential 11,990 10,087 9,599 Commercial 6,661 6,116 6,054 Civil/Infrastructure 1,506 1,315 1,212 Industrial 1,321 1,339 1,493 USA 21,478 18,857 18,358 Canada and Central Europe 1,314 1,083 1,371 Continuing operations 22,792 19,940 19,729
Disclosure of operating segments	An analysis of underlying trading profit by reportable segment and the reconciliation between underlying trading profit by reportable segment and profit before tax is as follows: 2021 2020 2019 $m $m $m Underlying trading profit USA 2,073 1,587 1,508 Canada and Central Europe 76 43 76 Reconciliation of underlying trading profit to profit before tax Total reportable segments results 2,149 1,630 1,584 Central and other costs (50) (38) (45) Gain on disposal of businesses — — 38 Business restructuring (1) 11 (72) (79) Corporate restructuring (2) (22) (25) — Pension plan changes/closure (3) — — (9) Amortization of acquired intangible assets (131) (114) (110) Net finance costs (144) (140) (74) Share of profit/(loss) after tax of associates 1 (2) 2 Gain on disposal of interests in associates and other investments — 7 3 Impairment of interests in associates — (22) (9) Impact of leases 77 68 — Profit before tax (4) 1,891 1,292 1,301 (1) For the year ended July 31, 2021, business restructuring reflects the release of provisions in connection with previously anticipated COVID-19 cost actions recorded in fiscal 2020. For the year ended July 31, 2020, business restructuring principally comprised costs incurred in the USA and Canada in respect of cost actions taken to ensure the business is appropriately sized for the post COVID-19 operating environment. For the year ended July 31, 2019, business restructuring comprised costs incurred in the USA and Canada in respect of their business transformation strategies and costs relating to the change in the Group corporate headquarters. (2) For the years ended July 31, 2021 and 2020, corporate restructuring costs related to the Group’s listing in the USA. (3) For the year ended July 31, 2019, pension plan changes/closure relate to the defined benefit pension plan in the UK. (4) From continuing operations. Other information on assets and liabilities by segment is set out in the following tables: 2021 2020 Segment Segment Segment Segment Segment Segment $m $m $m $m $m $m USA 10,959 (5,205) 5,754 9,338 (4,402) 4,936 Canada 722 (328) 394 603 (315) 288 Total reportable segments 11,681 (5,533) 6,148 9,941 (4,717) 5,224 Central and other costs 140 (119) 21 49 (159) (110) Discontinued operations 1 (9) (8) 1,096 (724) 372 Tax assets/(liabilities) 307 (303) 4 216 (319) (103) Derivative financial assets/(liabilities) 21 — 21 39 — 39 Cash and cash equivalents 1,335 — 1,335 2,115 — 2,115 Borrowings — (2,711) (2,711) — (3,166) (3,166) Group assets/(liabilities) 13,485 (8,675) 4,810 13,456 (9,085) 4,371 Geographical information on non-current assets is set out in the table below. Non-current assets includes goodwill, other intangible assets, right of use assets, property, plant and equipment and interests in associates. 2021 2020 $m $m USA 4,242 4,134 Canada 263 255 UK 3 357 Group 4,508 4,746 2021 Additions to Additions to other acquired intangible assets and interests in associates Additions to Additions to right of use assets Additions to property, plant and equipment $m $m $m $m $m USA 80 164 66 84 165 Canada — — 4 8 5 Total reportable segments 80 164 70 92 170 Discontinued operations — — 2 2 4 Group 80 164 72 94 174 2020 Additions to Additions to other Additions to Additions to right of use assets Additions to $m $m $m $m $m USA 66 107 79 86 199 Canada — — 3 10 2 Total reportable segments 66 107 82 96 201 Discontinued operations 12 31 5 19 13 Group 78 138 87 115 214 2021 Impairment of Amortization of Amortization Depreciation and Depreciation and $m $m $m $m $m USA — 131 34 224 123 Canada — — 2 16 7 Total reportable segments — 131 36 240 130 Central and other costs — — 1 1 — Discontinued operations — 3 2 13 6 Group — 134 39 254 136 2020 Impairment of Amortization of Amortization Depreciation and Depreciation and $m $m $m $m $m USA — 113 26 226 131 Canada — 1 2 14 7 Total reportable segments — 114 28 240 138 Central and other costs 22 — 1 1 1 Discontinued operations — 16 6 37 20 Group 22 130 35 278 159

Operating profit (Tables)

Operating profit (Tables)	12 Months Ended
	Jul. 31, 2021
Analysis of income and expense [abstract]
Schedule Of Continuing Operations, Profit (Loss)	Amounts charged/(credited) in arriving at operating profit from continuing operations include: Notes 2021 2020 2019 $m $m $m Amortization of acquired intangible assets 11 131 114 110 Amortization of non-acquired intangible assets 11 37 29 23 Depreciation of right of use assets 12 241 233 — Impairment of right of use assets 12 — 8 — Depreciation of property, plant and equipment 13 130 135 126 Impairment of property, plant and equipment 13 — 4 — Gain on disposal of businesses — — (38) Amounts included in cost of sales with respect to inventory 15,637 13,804 13,699 Staff costs 9 3,143 2,891 2,896 Operating lease rentals: land and buildings — — 223 Operating lease rentals: plant and machinery — — 78 Trade receivables impairment (3) 10 5

Net finance costs (Tables)

Net finance costs (Tables)	12 Months Ended
	Jul. 31, 2021
Analysis of income and expense [abstract]
Summary of net finance costs	2021 2020 2019 $m $m $m Finance income 1 7 12 Interest cost on borrowings (101) (108) (97) Unwind of fair value adjustment to senior unsecured loan notes 2 5 6 Lease liability expense (44) (49) — Net interest (expense)/income on defined benefit obligation (note 22) (2) 3 5 Valuation gains on financial instruments — 2 — Finance costs (145) (147) (86) Total net finance costs (144) (140) (74)

Tax (Tables)

Tax (Tables)	12 Months Ended
	Jul. 31, 2021
Income Taxes [Abstract]
Summary of Tax Charges	The tax charge for the year comprises: 2021 2020 2019 $m $m $m Current year tax charge 394 294 306 Adjustments to tax charge in respect of prior years 19 (16) 4 Total current tax charge 413 278 310 Deferred tax (credit)/charge: origination and reversal of temporary differences (172) 39 (51) Total tax charge 241 317 259
Summary of Tax on Items Charged to Comprehensive Income	Tax on items charged to the Group statement of comprehensive income: 2021 2020 2019 $m $m $m Deferred tax (charge)/credit on remeasurement of retirement benefit plans (19) 44 6 Total tax on items (charge)/credit to the Group statement of comprehensive income (19) 44 6
Summary of Items Credited to Equity	Tax on items credited to equity: 2021 2020 2019 $m $m $m Current tax credit on share-based payments 5 6 5 Deferred tax credit on share-based payments 4 5 1 Total tax on items credited to equity 9 11 6
Summary of Tax Reconciliation	Total profit/tax from continuing operations 2021 2020 2019 Tax reconciliation: $m % $m % $m % Profit before tax 1,891 1,292 1,301 Expected tax at weighted average tax rate (1) (431) 22.8 (272) 21.0 (216) 16.6 Adjusted for the effects of: over/(under) provisions in respect of prior periods (2) 11 (0.6) (2) 0.2 (5) 0.4 current year credit/(charge) in relation to uncertain tax provisions (3) 138 (7.4) (33) 2.6 (35) 2.7 tax credits and incentives 12 (0.6) 6 (0.5) 4 (0.3) non-taxable income 18 (1.0) 8 (0.6) 3 (0.2) recognition of previously unrecognized deferred tax asset — — — — 11 (0.9) other (4) (18) 1.0 (29) 2.2 (17) 1.3 effect of tax rate changes (5) 29 (1.5) 5 (0.4) (4) 0.3 Tax (charge) / effective tax rate (241) 12.7 (317) 24.5 (259) 19.9 (1) This expected weighted average tax rate reflects the applicable statutory corporate tax rates on the accounting profits/losses in the countries in which the Group operates after intra-group financing. This results in interest deductions and lower taxable profits in many of the countries and therefore reduce the tax rate. (2) This includes adjustments arising out of movements in uncertain tax provisions regarding prior periods and differences between the final tax liabilities in the tax computations and the tax liabilities provided in the consolidated financial statements. (3) This reflects management’s assessment of the potential tax liability for the current year in relation to open tax issues and audits. (4) This primarily relates to non-taxable disposal of businesses and to certain expenditure for which no tax relief is available such as disallowable business entertaining costs and legal/professional fees. (5) In fiscal 2021, this relates to the change of the corporation tax rate to 25 percent from the previously enacted 19 percent in the UK. In fiscal 2020 and fiscal 2019, this relates to the change of the deferred tax rate to 19 percent from the previously enacted 17 percent in the UK.

Discontinued operations (Tables

Discontinued operations (Tables)	12 Months Ended
	Jul. 31, 2021
Non-Current Assets Held For Sale And Discontinued Operations [Abstract]
Summary of the results from discontinued operations included in the Group income statement	The results from discontinued operations, which have been included in the Group income statement, are set out below: 2021 2020 2019 $m $m $m Revenue 1,138 1,879 2,281 Cost of sales (879) (1,440) (1,730) Gross profit 259 439 551 Operating costs: (loss)/gain on disposal of businesses (356) — 19 operating costs (205) (441) (479) other 174 (18) (21) Operating costs (387) (459) (481) Operating (loss)/profit (128) (20) 70 Net finance (costs)/income (2) (4) 4 (Loss)/profit before tax (130) (24) 74 Tax (charge)/credit (12) 10 (8) (Loss)/profit from discontinued operations (142) (14) 66 Basic earnings per share (63.6) ¢ (6.2) ¢ 28.7 ¢ Diluted earnings per share (63.2) ¢ (6.2) ¢ 28.5 ¢ The loss on current period disposal is as follows: 2021 2020 $m $m Consideration received 422 — Net assets disposed of (390) — Disposal costs and provisions (32) — Recycling of deferred foreign exchange losses (370) — Current period loss on disposal (370) — The net inflow of cash in respect of disposals of businesses related to discontinued operations is as follows: 2021 2020 2019 $m $m $m Cash consideration received for current period disposals (net of cash disposed of) 395 — 220 Cash consideration received in respect of prior year disposals 19 9 (2) Cash paid in respect of prior year disposals (2) (2) (16) Disposal costs paid (32) — (1) Net cash flow in respect of disposals of businesses 380 7 201

Dividends (Tables)

Dividends (Tables)	12 Months Ended
	Jul. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Schedule of amounts recognized as distributions to equity shareholders	Amounts recognized as distributions to equity shareholders: 2021 2020 2019 $m $m $m Final dividend for the year ended July 31, 2018: 131.9 cents per share — — 303 Interim dividend for the year ended July 31, 2019: 63.1 cents per share — — 146 Final dividend for the year ended July 31, 2019: 145.1 cents per share — 327 — Final dividend for the year ended July 31, 2020: 208.2 cents per share 467 — — Interim dividend for the year ended July 31, 2021: 72.9 cents per share 163 — — Special dividend: 180.0 cents per share 404 — — Dividends paid 1,034 327 449

Earnings per share (Tables)

Earnings per share (Tables)	12 Months Ended
	Jul. 31, 2021
Earnings per share [abstract]
Earnings per share	2021 2020 Earnings Basic Diluted Earnings Basic Diluted $m cents cents $m cents cents Profit from continuing and discontinued operations attributable to shareholders of the Company 1,508 674.7 670.5 961 427.5 423.5 Loss from discontinued operations 142 63.6 63.2 14 6.2 6.2 Profit from continuing operations 1,650 738.3 733.7 975 433.7 429.7 2019 Earnings Basic Diluted $m cents cents Profit from continuing and discontinued operations attributable to shareholders of the Company 1,108 481.3 477.8 Profit from discontinued operations (66) (28.7) (28.5) Profit from continuing operations 1,042 452.6 449.3

Employee and key management i_2

Employee and key management information (Tables)	12 Months Ended
	Jul. 31, 2021
Number and average number of employees [abstract]
Disclosure Of Staff Costs	2021 2020 2019 $m $m $m Wages and salaries 2,807 2,627 2,605 Social security costs 182 169 173 Pension costs—defined contribution plans 74 68 77 Pension costs—defined benefit plans (note 22) 3 3 11 Share-based payments 77 24 30 Total staff costs 3,143 2,891 2,896 The aggregate emoluments for all key management are set out in the following table: Key management personnel compensation (including Directors) 2021 2020 2019 $m $m $m Salaries, bonuses and other short term employee benefits 16 16 13 Post-employment benefits 2 1 1 Share-based payments 18 8 11 Total compensation 36 25 25
Disclosure Of Average Number Of Employees	Average number of employees 2021 2020 2019 USA 27,032 27,085 27,489 Canada and Central Europe 2,443 2,473 2,974 Central and other 63 74 79 Continuing operations 29,538 29,632 30,542

Intangible assets_goodwill (Tab

Intangible assets—goodwill (Tables)	12 Months Ended
	Jul. 31, 2021
Goodwill [Abstract]
Disclosure of reconciliation of changes in goodwill	2021 2020 $m $m Cost On August 1 1,861 1,789 Exchange rate adjustment 15 8 Acquisitions 80 78 Adjustment to fair value on prior year acquisitions — (14) Reclassification as held for sale (162) — At July 31 1,794 1,861 Accumulated impairment losses On August 1 140 133 Exchange rate adjustment 3 7 Reclassification as held for sale (106) — At July 31 37 140 Net book value at July 31 1,757 1,721 Acquired intangible assets Software Trade Customer Other Total $m $m $m $m $m Cost On August 1, 2019 203 192 673 168 1,236 Exchange rate adjustment 5 1 4 — 10 Acquisitions 13 34 101 3 151 Adjustment to fair value on prior year acquisitions — 4 9 2 15 Additions 87 — — — 87 Disposals and transfers (2) — — — (2) At July 31, 2020 306 231 787 173 1,497 Exchange rate adjustment 3 — 3 — 6 Acquisitions — 17 132 15 164 Additions 72 — — — 72 Disposals and transfers (10) — — — (10) Reclassification as held for sale (66) (18) (65) (1) (150) At July 31, 2021 305 230 857 187 1,579 Acquired intangible assets Software Trade Customer Other Total $m $m $m $m $m Accumulated amortization and impairment losses On August 1, 2019 136 95 469 113 813 Exchange rate adjustment 2 1 3 — 6 Amortization charge for the year 35 28 85 17 165 Disposals (8) — — — (8) At July 31, 2020 165 124 557 130 976 Exchange rate adjustment 2 — 2 — 4 Amortization charge for the year 39 28 91 15 173 Disposals and transfers (12) — — — (12) Reclassification as held for sale (38) (11) (58) (1) (108) At July 31, 2021 156 141 592 144 1,033 Net book value at July 31, 2021 149 89 265 43 546 Net book value at July 31, 2020 141 107 230 43 521
Disclosure of information for cash-generating units	CGUs have been aggregated in the disclosure below at a segmental level except for certain CGUs in the USA which are considered to be significant (more than 10 percent of the current year goodwill balance). Impairment reviews were performed for each individual CGU during the year ended July 31, 2021. 2021 2020 Long term Post-tax Pre-tax Goodwill Long term Post-tax Pre-tax Goodwill % % % $m % % % $m Blended Branches (1) 1,096 1,038 Waterworks 192 183 Rest of USA (1) 319 306 USA 2.2 7.5 10.3 1,607 2.2 8.1 10.8 1,527 UK n/a n/a n/a — 1.5 7.7 9.4 55 Canada 2.0 8.0 10.9 150 1.3 7.8 10.8 139 Total 1,757 1,721 (1) Due to a reorganization of the reporting structure, the Facilities Supply CGU, previously included within the Rest of USA CGU, has been reallocated to the Blended Branches CGU. The comparative has been reclassified for comparability.

Intangible assets_other (Tables

Intangible assets—other (Tables)	12 Months Ended
	Jul. 31, 2021
Intangible Assets [Abstract]
Disclosure of reconciliation of changes in intangible assets	2021 2020 $m $m Cost On August 1 1,861 1,789 Exchange rate adjustment 15 8 Acquisitions 80 78 Adjustment to fair value on prior year acquisitions — (14) Reclassification as held for sale (162) — At July 31 1,794 1,861 Accumulated impairment losses On August 1 140 133 Exchange rate adjustment 3 7 Reclassification as held for sale (106) — At July 31 37 140 Net book value at July 31 1,757 1,721 Acquired intangible assets Software Trade Customer Other Total $m $m $m $m $m Cost On August 1, 2019 203 192 673 168 1,236 Exchange rate adjustment 5 1 4 — 10 Acquisitions 13 34 101 3 151 Adjustment to fair value on prior year acquisitions — 4 9 2 15 Additions 87 — — — 87 Disposals and transfers (2) — — — (2) At July 31, 2020 306 231 787 173 1,497 Exchange rate adjustment 3 — 3 — 6 Acquisitions — 17 132 15 164 Additions 72 — — — 72 Disposals and transfers (10) — — — (10) Reclassification as held for sale (66) (18) (65) (1) (150) At July 31, 2021 305 230 857 187 1,579 Acquired intangible assets Software Trade Customer Other Total $m $m $m $m $m Accumulated amortization and impairment losses On August 1, 2019 136 95 469 113 813 Exchange rate adjustment 2 1 3 — 6 Amortization charge for the year 35 28 85 17 165 Disposals (8) — — — (8) At July 31, 2020 165 124 557 130 976 Exchange rate adjustment 2 — 2 — 4 Amortization charge for the year 39 28 91 15 173 Disposals and transfers (12) — — — (12) Reclassification as held for sale (38) (11) (58) (1) (108) At July 31, 2021 156 141 592 144 1,033 Net book value at July 31, 2021 149 89 265 43 546 Net book value at July 31, 2020 141 107 230 43 521

Right of use assets and leases

Right of use assets and leases (Tables)	12 Months Ended
	Jul. 31, 2021
Presentation of leases for lessee [abstract]
Movement in right of use assets	Movements in right of use assets for the years ended July 31, 2021 were as follows: Land and Plant and Total right of $m $m $m Net book value at July 31, 2019 — — — Adjustment on adoption of IFRS 16 940 280 1,220 Net book value at August 1, 2019 940 280 1,220 Exchange rate adjustment 8 — 8 Acquisitions 28 2 30 Additions 54 61 115 Disposals and remeasurements 19 (3) 16 Depreciation charge for the year (191) (77) (268) Impairment charge for the year (9) (1) (10) Net book value at July 31, 2020 849 262 1,111 Exchange rate adjustments 7 1 8 Acquisitions 12 — 12 Additions 45 49 94 Disposals and remeasurements 66 (16) 50 Depreciation charge for the year (181) (73) (254) Reclassification as held for sale (108) (18) (126) Net book value at July 31, 2021 690 205 895
Maturity of lease liabilities	The maturity of lease liabilities at July 31, 2021 was as follows: 2021 2020 $m $m Due in less than one year 298 325 Due in one to two years 283 326 Due in two to three years 219 282 Due in three to four years 156 211 Due in four to five years 99 146 Due in over five years 148 218 Total undiscounted lease payments 1,203 1,508 Effect of discounting (113) (153) Lease liabilities 1,090 1,355 Current lease liabilities 263 281 Non-current lease liabilities 827 1,074 Lease liabilities 1,090 1,355
Amounts charged (credited) to the Group income statement	Amounts charged/(credited) to the Group income statement during the year were as follows: 2021 2020 $m $m Depreciation of right of use assets 241 233 Impairment of right of use assets — 8 Short term lease expense 1 10 Low-value lease expense 15 16 Sublease income (2) (1) Charged to operating costs 255 266 Charged to finance costs 44 49 Total amount charged to the Group income statement 299 315

Property, plant and equipment (

Property, plant and equipment (Tables)	12 Months Ended
	Jul. 31, 2021
Disclosure of detailed information about property, plant and equipment [abstract]
Property, plant and equipment	Assets are depreciated to their estimated residual value using the straight-line method over their estimated useful lives as follows: Freehold buildings 20 - 50 years Leasehold improvements over the period of the lease Plant and machinery 7 - 10 years Computer hardware 3 - 5 years Fixtures and fittings 5 - 7 years Motor vehicles 4 years Land and buildings Freehold Finance Leasehold Plant and Other Total $m $m $m $m $m $m Cost At July 31, 2019 1,184 1 498 679 219 2,581 Adjustments on adoption of IFRS 16 — (1) — (2) (13) (16) On August 1, 2019 1,184 — 498 677 206 2,565 Exchange rate adjustment 5 — 5 8 4 22 Acquisitions 15 — — 4 — 19 Additions 127 — 11 70 6 214 Disposals and transfers 2 — (17) (40) (26) (81) Reclassification as held for sale (30) — — (1) — (31) At July 31, 2020 1,303 — 497 718 190 2,708 Exchange rate adjustment 3 — 3 4 2 12 Acquisitions 8 — 1 1 1 11 Additions 79 — 23 63 9 174 Disposals and transfers (4) — (27) (26) (19) (76) Reclassification as held for sale (70) — (74) (119) (40) (303) At July 31, 2021 1,319 — 423 641 143 2,526 Accumulated depreciation and impairment losses At July 31, 2019 278 — 338 475 141 1,232 Adjustments on adoption of IFRS 16 — — — (1) (9) (10) On August 1, 2019 278 — 338 474 132 1,222 Exchange rate adjustment 1 — 3 6 3 13 Depreciation charge for the year 36 — 34 62 22 154 Impairment charge for the year 1 — 2 2 — 5 Disposals — — (13) (36) (19) (68) Reclassification as held for sale (7) — — — — (7) At July 31, 2020 309 — 364 508 138 1,319 Exchange rate adjustment 1 — 2 2 1 6 Depreciation charge for the year 36 — 30 56 14 136 Disposals and transfers (1) — (21) (31) (6) (59) Reclassification as held for sale (18) — (45) (88) (30) (181) At July 31, 2021 327 — 330 447 117 1,221 Net book value at July 31, 2021 992 — 93 194 26 1,305 Net book value at July 31, 2020 994 — 133 210 52 1,389

Deferred tax assets and liabi_2

Deferred tax assets and liabilities (Tables)	12 Months Ended
	Jul. 31, 2021
Income Taxes [Abstract]
Deferred tax assets and liabilities	Deferred tax assets and liabilities, which are offset where the Group has a legally enforceable right to do so, are shown in the balance sheet after offset as follows: 2021 2020 $m $m Deferred tax assets 303 216 Deferred tax liabilities — (26) 303 190 The following are the major deferred tax assets and liabilities recognized by the Group and movements thereon during the current and prior reporting year: Goodwill Share- Property, Right of Lease Retirement Inventory Tax Method Changes Tax Trade Other Total $m $m $m $m $m $m $m $m $m $m $m $m At July 31, 2019 (74) 25 31 — — 40 (114) — 88 40 72 108 Adjustment on adoption of IFRS 16 — — — (298) 372 — — — — (5) — 69 At August 1, 2019 (74) 25 31 (298) 372 40 (114) — 88 35 72 177 Credit/(charge) to income 3 (2) (14) 27 (34) 1 5 — 11 (13) (13) (29) Credit to other comprehensive income — — — — — 44 — — — — — 44 Credit to equity — 5 — — — — — — — — — 5 Acquisitions (12) — 1 (4) 4 — — — — — — (11) Exchange rate adjustment — — 4 — — (1) — — 1 — — 4 At July 31, 2020 (83) 28 22 (275) 342 84 (109) — 100 22 59 190 Credit/(charge) to income 3 4 (5) 26 (42) (4) (19) 98 20 60 20 161 Charge to other comprehensive income — — — — — (19) — — — — — (19) Credit to equity — 4 — — — — — — — — — 4 Acquisitions (16) — — — — — 1 — 5 — — (10) Transfers to held for sale 6 (1) (17) 24 (25) — — — (17) — 1 (29) Transfers between categories — — — — — — 195 (195) — — — — Exchange rate adjustment — — 5 — — 1 — — — — — 6 At July 31, 2021 (90) 35 5 (225) 275 62 68 (97) 108 82 80 303

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Jul. 31, 2021
Inventory Disclosure [Abstract]
Schedule Of Inventory	2021 2020 $m $m Goods purchased for resale 3,607 3,089 Inventory provisions (181) (209) Net inventories 3,426 2,880

Trade and other receivables (Ta

Trade and other receivables (Tables)	12 Months Ended
	Jul. 31, 2021
Receivables [Abstract]
Schedule of trade and other receivables	2021 2020 $m $m Current Trade receivables 2,803 2,604 Less: provision for expected credit losses (17) (36) Net trade receivables 2,786 2,568 Other receivables 146 139 Prepayments 399 335 3,331 3,042 Non-current Other receivables 428 377
Schedule of loss allowance for trade receivables by aging category	The loss allowance for trade receivables by aging category is as follows: At July 31, 2021 Amounts Less than More than Total $m $m $m $m Expected credit loss rate 0.3 % 0.5 % 100 % Gross trade receivables 1,820 977 6 2,803 Lifetime expected credit losses (6) (5) (6) (17) Net trade receivables 1,814 972 — 2,786 At July 31, 2020 Amounts Less than More than Total $m $m $m $m Expected credit loss rate 0.6 % 1.1 % 100 % Gross trade receivables 1,836 751 17 2,604 Lifetime expected credit losses (11) (8) (17) (36) Net trade receivables 1,825 743 — 2,568

Cash flow statement (Tables)

Cash flow statement (Tables)	12 Months Ended
	Jul. 31, 2021
Cash and cash equivalents [abstract]
Schedule of Cash and Cash Equivalents	2021 2020 $m $m Cash and cash equivalents 1,335 2,115

Trade and other payables (Table

Trade and other payables (Tables)	12 Months Ended
	Jul. 31, 2021
Trade and other payables [abstract]
Schedule of Trade and Other Payables	2021 2020 $m $m Current Trade payables 3,234 2,855 Tax and social security 92 114 Other payables 104 115 Accruals and deferred income 592 507 4,022 3,591 Non-current Other payables 342 338

Borrowings (Tables)

Borrowings (Tables)	12 Months Ended
	Jul. 31, 2021
Borrowings [abstract]
Summary of borrowings	2021 2020 Current Non- Total Current Non- Total $m $m $m $m $m $m Bank overdrafts 183 — 183 248 — 248 Senior unsecured loan notes — 2,528 2,528 283 2,635 2,918 Total borrowings 183 2,528 2,711 531 2,635 3,166
Schedule of maturity of non-current loans	Non-current loans are repayable as follows: 2021 2020 $m $m Due in one to two years 250 — Due in two to three years 55 250 Due in three to four years 150 150 Due in four to five years 400 150 Due in over five years 1,673 2,085 Total 2,528 2,635 2021 2020 Trade Debt Interest Total Trade Debt Interest Total $m $m $m $m $m $m $m $m Due in less than one year 3,188 263 130 3,581 2,889 561 148 3,598 Due in one to two years 31 507 116 654 34 291 131 456 Due in two to three years 25 257 103 385 20 507 117 644 Due in three to four years 18 295 93 406 15 345 103 463 Due in four to five years 19 491 79 589 14 286 92 392 Due in over five years 244 1,782 207 2,233 211 2,245 285 2,741 Total 3,525 3,595 728 7,848 3,183 4,235 876 8,294

Financial instruments (Tables)

Financial instruments (Tables)	12 Months Ended
	Jul. 31, 2021
Disclosure of detailed information about financial instruments [abstract]
Disclosure of financial assets	The carrying value of financial instruments by category as defined by IFRS 9 “Financial Instruments” is as follows: 2021 2020(2) $m $m Financial assets Financial assets at fair value through profit and loss 353 307 Financial assets at fair value through other comprehensive income 18 12 Financial assets at amortized cost 3,372 3,114 Financial liabilities Financial liabilities at fair value through profit and loss 328 265 Financial liabilities at amortized cost 7,026 7,474
Disclosure of financial liabilities	The carrying value of financial instruments by category as defined by IFRS 9 “Financial Instruments” is as follows: 2021 2020(2) $m $m Financial assets Financial assets at fair value through profit and loss 353 307 Financial assets at fair value through other comprehensive income 18 12 Financial assets at amortized cost 3,372 3,114 Financial liabilities Financial liabilities at fair value through profit and loss 328 265 Financial liabilities at amortized cost 7,026 7,474
Disclosure of offsetting of financial assets and financial liabilities	The financial instruments which have been offset in the financial statements are disclosed below: At July 31, 2021 Notes Gross (1) Offset (2) Financial (3) Cash (4) Net (5) $m $m $m $m $m Financial assets Non-current assets Derivative financial assets 16 — 16 — 16 Current assets Derivative financial assets 5 — 5 — 5 Cash and cash equivalents 17 1,335 — 1,335 (36) 1,299 1,356 — 1,356 (36) 1,320 Financial liabilities Current liabilities Borrowings 19 183 — 183 (36) 147 Non-current liabilities Borrowings 19 2,528 — 2,528 — 2,528 2,711 — 2,711 (36) 2,675 Total excluding lease liabilities 27 (1,355) — (1,355) — (1,355) At July 31, 2020 Notes Gross (1) Offset (2) Financial (3) Cash (4) Net (5) $m $m $m $m $m Financial assets Non-current assets Derivative financial assets 28 — 28 — 28 Current assets Derivative financial assets 19 (8) 11 — 11 Cash and cash equivalents 17 2,115 — 2,115 (248) 1,867 2,162 (8) 2,154 (248) 1,906 At July 31, 2020 Notes Gross (1) Offset (2) Financial (3) Cash (4) Net (5) $m $m $m $m $m Financial liabilities Current liabilities Derivative financial liabilities 8 (8) — — — Borrowings 19 531 — 531 (248) 283 Non-current liabilities Borrowings 19 2,635 — 2,635 — 2,635 3,174 (8) 3,166 (248) 2,918 Total excluding lease liabilities 27 (1,012) — (1,012) — (1,012) (1) The gross amounts of the recognized financial assets and liabilities under a master netting agreement, or similar arrangement. (2) The amounts offset in accordance with the criteria in IAS 32. (3) The net amounts presented in the Group balance sheet. (4) The amounts subject to a master netting agreement, or similar arrangement, not included in (3). (5) The net amount after deducting the amounts in (4) from the amounts in (3).
Disclosure of maturity analysis for non-derivative financial liabilities	Non-current loans are repayable as follows: 2021 2020 $m $m Due in one to two years 250 — Due in two to three years 55 250 Due in three to four years 150 150 Due in four to five years 400 150 Due in over five years 1,673 2,085 Total 2,528 2,635 2021 2020 Trade Debt Interest Total Trade Debt Interest Total $m $m $m $m $m $m $m $m Due in less than one year 3,188 263 130 3,581 2,889 561 148 3,598 Due in one to two years 31 507 116 654 34 291 131 456 Due in two to three years 25 257 103 385 20 507 117 644 Due in three to four years 18 295 93 406 15 345 103 463 Due in four to five years 19 491 79 589 14 286 92 392 Due in over five years 244 1,782 207 2,233 211 2,245 285 2,741 Total 3,525 3,595 728 7,848 3,183 4,235 876 8,294
Disclosure of undrawn borrowing facilities	The maturity profile of the Group’s undrawn facilities is as follows: 2021 2020 $m $m Less than one year 500 500 Between one and two years — 600 Between two and three years 600 — Between three and four years — — Between four and five years 1,100 1,100 After five years — — Total 2,200 2,200
Disclosure of nature and extent of risks arising from financial instruments	Derivative financial assets/(liabilities), cash and cash equivalents and borrowings by currency were as follows: At July 31, 2021 At July 31, 2020 Derivatives Cash and Total Derivatives Cash and Total $m $m $m $m $m $m U.S. dollars 23 (1,640) (1,617) 39 (1,186) (1,147) Pounds sterling (1) 90 89 — (38) (38) Other currencies (1) 174 173 — 173 173 Total 21 (1,376) (1,355) 39 (1,051) (1,012)
Disclosure of financial instruments by type of interest rate	The interest rate profile of the Group’s derivative financial assets/(liabilities), cash and cash equivalents and borrowings, including the effect of interest rate swaps is set out below: 2021 2020 Floating Fixed Total Floating Fixed Total $m $m $m $m $m $m U.S. dollars 533 (2,150) (1,617) 1,284 (2,431) (1,147) Pounds sterling 89 — 89 (38) — (38) Other currencies 173 — 173 173 — 173 Total 795 (2,150) (1,355) 1,419 (2,431) (1,012)

Provisions (Tables)

Provisions (Tables)	12 Months Ended
	Jul. 31, 2021
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract]
Schedule of Change in Provisions	Environmental Ferguson Restructuring Property Other Total $m $m $m $m $m $m At July 31, 2019 82 77 40 15 51 265 Adjustment on adoption of IFRS 16 — — (14) 14 (1) (1) On August 1, 2019 82 77 26 29 50 264 Utilized in the year (4) (20) (27) (1) (4) (56) Changes in discount rate 6 — — 1 — 7 (Credit)/charge for the year (1) 18 22 1 (10) 30 Acquisition of businesses 2 — — — — 2 Exchange rate adjustment 1 1 1 3 2 8 At July 31, 2020 86 76 22 33 38 255 Utilized in the year (4) (19) (8) (1) (3) (35) Changes in discount rate (5) — — — — (5) Charge/(credit) for the year 15 13 (1) — 3 30 Reclassified as held for sale (8) — (10) (33) (2) (53) Exchange rate adjustment — — 1 1 1 3 At July 31, 2021 84 70 4 — 37 195 Provisions have been analyzed between current and non-current as follows: At July 31, 2021 Environmental Ferguson Restructuring Property Other Total $m $m $m $m $m $m Current 20 20 2 — 30 72 Non-current 64 50 2 — 7 123 Total provisions 84 70 4 — 37 195 At July 31, 2020 Environmental Ferguson Restructuring Property Other Total $m $m $m $m $m $m Current 10 5 10 8 20 53 Non-current 76 71 12 25 18 202 Total provisions 86 76 22 33 38 255

Retirement benefit obligations

Retirement benefit obligations (Tables)	12 Months Ended
	Jul. 31, 2021
Disclosure of defined benefit plans [abstract]
Summary of financial impact of plans	Financial impact of plans As disclosed in the Group balance sheet 2021 2020 $m $m Non-current asset 108 — Non-current liability (12) (61) Net asset/(liability) 96 (61) 2021 2020 Analysis of Group balance sheet net asset/(liability) UK Non-UK Total UK Non-UK Total $m $m $m $m $m $m Fair value of plan assets 2,175 129 2,304 2,012 110 2,122 Present value of defined benefit obligations (2,067) (141) (2,208) (2,039) (144) (2,183) Net asset/(liability) 108 (12) 96 (27) (34) (61) The fair value of plan assets is as follows: 2021 2020 UK Non-UK Total UK Non-UK Total $m $m $m $m $m $m On August 1 2,012 110 2,122 1,788 116 1,904 Interest income 31 3 34 39 3 42 Employers’ contributions 55 1 56 15 — 15 Benefit payments (68) (9) (77) (64) (9) (73) Remeasurement gain: Return on plan assets (excluding amounts included in net interest expense) 18 16 34 94 2 96 Exchange rate adjustment 127 8 135 140 (2) 138 At July 31 2,175 129 2,304 2,012 110 2,122 Actual return on plan assets 49 19 68 133 5 138 2021 2020 UK Non-UK Total UK Non-UK Total $m $m $m $m $m $m On August 1 2,039 144 2,183 1,610 141 1,751 Current service costs (including administrative costs) 3 — 3 3 — 3 Interest cost 31 4 35 35 4 39 Benefit payments (68) (9) (77) (64) (9) (73) Remeasurement (gain)/loss: Actuarial (gain)/loss arising from changes in demographic assumptions (22) — (22) 62 — 62 Actuarial (gain)/loss arising from changes in financial assumptions (11) (9) (20) 202 9 211 Actuarial (gain)/loss arising from experience adjustments (31) — (31) 57 1 58 Exchange rate adjustment 126 11 137 134 (2) 132 At July 31 2,067 141 2,208 2,039 144 2,183 2021 2020 $m $m Amounts arising from wholly unfunded plans 3 3 Amounts arising from plans that are wholly or partly funded 2,205 2,180 Total present value of defined benefit obligations 2,208 2,183
Summary of expense recognized in Group income statement	Analysis of total expense recognized in the Group income statement 2021 2020 2019 $m $m $m Administrative costs 3 3 2 Settlement losses, past service costs and administrative costs — — 9 Charged to operating costs (note 9) 3 3 11 Charged/(credited) to finance costs (note 4) 2 (3) (5) Total expense recognized in the Group income statement 5 — 6
Summary of remeasurement of the defined benefit net liability included in Group statement comprehensive income	The remeasurement of the defined benefit net asset is included in the Group statement of comprehensive income. Analysis of amount recognized in the Group statement of comprehensive income 2021 2020 2019 $m $m $m The return on plan assets (excluding amounts included in net interest expense) 34 96 134 Actuarial gain/(loss) arising from changes in demographic assumptions 22 (62) 38 Actuarial gain/(loss) arising from changes in financial assumptions 20 (211) (210) Actuarial gain/(loss) arising from experience adjustments 31 (58) 2 Remeasurement of retirement benefit plans 107 (235) (36) Tax (charge)/credit (19) 44 6 Total amount recognized in the Group statement of comprehensive income 88 (191) (30)
Summary of the fair value of plan assets	The plan assets were invested in a diversified portfolio comprised of: 2021 2020 UK Non-UK Total UK Non-UK Total $m $m $m $m $m $m Equity type assets quoted — 48 48 165 65 230 Government bonds quoted 492 40 532 566 23 589 Corporate bonds quoted 884 13 897 385 12 397 Cash 19 1 20 44 — 44 Insurance policies 602 — 602 609 — 609 Securitized fixed income assets 178 — 178 167 — 167 Other — 27 27 76 10 86 Total fair value of assets 2,175 129 2,304 2,012 110 2,122
Summary of assumptions and sensitivity analysis	The financial assumptions used to estimate defined benefit obligations are: 2021 2020 UK Non-UK UK Non-UK % % % % Discount rate 1.7 2.9 1.5 2.4 Inflation rate 3.1 2.0 2.9 2.0 Increase to deferred benefits during deferment 2.4 n/a 2.1 n/a Increases to pensions in payment 3.0 2.0 2.6 2.0 Salary increases 2.4 n/a 2.1 2.5 The life expectancy assumptions used to estimate defined benefit obligations are: 2021 2020 UK Non-UK UK Non-UK Years Years Years Years Current pensioners (at age 65)—male 22 22 22 22 Current pensioners (at age 65)—female 25 25 25 24 Future pensioners (at age 65)—male 23 23 23 23 Future pensioners (at age 65)—female 25 26 26 26 2021 2020 Change UK Non-UK Change UK Non-UK $m $m $m $m Discount rate +0.25 % 85 4 +0.25 % 88 5 (0.25) % (89) (5) (0.25) % (96) (5) Inflation rate +0.25 % (77) — +0.25 % (85) — (0.25) % 78 3 (0.25) % 75 4 Life expectancy 1 year (70) (5) 1 year (56) (5)

Share capital (Tables)

Share capital (Tables)	12 Months Ended
	Jul. 31, 2021
Disclosure of classes of share capital [abstract]
Disclosure of classes of share capital	Ordinary shares in issue 2021 2020 Allotted and issued shares Number of Cost Number of Cost $m $m Number/cost of ordinary 10 pence shares in the Company (million) 232 30 232 30 A summary of the movements in the year is detailed in the following table: 2021 2020 Number of ordinary 10 pence shares in the Company in issue at July 31 232,171,182 232,171,182
Disclosure of Treasury shares and Own shares	A summary of the movements in Treasury shares in the year is detailed in the following table: 2021 2020 Number of Cost Number of Cost $m $m Treasury shares held by the Company on August 1 7,280,222 570 2,036,945 146 Treasury shares purchased under irrevocable commitment from prior year — — 2,139,221 159 570 305 Treasury shares purchased 3,020,368 400 3,452,349 292 Disposal of Treasury shares to settle share options (437,774) (39) (348,293) (27) Treasury shares held by the Company at July 31 9,862,816 931 7,280,222 570 A summary of the movements in own shares held in Employee Benefit Trusts is detailed in the following table: 2021 2020 Number of Cost Number of Cost $m $m Own shares in the Company on August 1 1,277,347 88 1,563,778 102 New shares purchased — — 307,345 26 Exercise of share options (444,158) (30) (593,776) (40) Own shares in the Company at July 31 833,189 58 1,277,347 88

Reconciliation of profit to c_2

Reconciliation of profit to cash generated from operations (Tables)	12 Months Ended
	Jul. 31, 2021
Disclosure Of Reconciliation Of Profit To Operating Activities [Abstract]
Summary of profit reconciled to cash generated from continuing and discontinued operations	Profit for the year is reconciled to cash generated from continuing and discontinued operations as follows: 2021 2020 2019 $m $m $m Profit for the year attributable to shareholders 1,508 961 1,108 Net finance costs 146 144 70 Share of (profit)/loss after tax of associates (1) 2 (2) Gain on disposal of interests in associates and other investments — (7) (3) Impairment of interests in associates — 22 9 Tax charge 253 307 267 Loss/(gain) on disposal and closure of businesses and impairment of assets held for sale 184 3 (53) Amortization of acquired intangible assets 134 130 110 Amortization of non-acquired intangible assets 39 35 31 Depreciation and impairment of right of use assets 254 278 — Depreciation and impairment of property, plant and equipment 136 159 147 Gain on disposal of property, plant and equipment, and assets held for sale (3) (3) (7) (Increase)/decrease in inventories (825) 19 (172) (Increase)/decrease in trade and other receivables (769) 210 (132) Increase/(decrease) in trade and other payables 1,023 (9) 227 Decrease in provisions and other liabilities (57) (25) (25) Share-based payments 71 26 34 Cash generated from operations 2,093 2,252 1,609

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Jul. 31, 2021
Business Combinations [Abstract]
Disclosure of detailed information about acquisitions	All transactions have been accounted for by the acquisition method of accounting. Name Date of Country of Shares/asset Acquired % Old Dominion Supply, Inc. October 2020 USA Shares 100% Atlantic Construction Fabrics, Inc. November 2020 USA Assets 100% Nova Wildcat Amerock Holdings, Inc. January 2021 USA Shares 100% Clarksville Lighting & Appliance, LLC January 2021 USA Assets 100% The Kitchen Showcase, Inc. June 2021 USA Assets 100% Moore Industrial Supply July 2021 USA Assets 100% Canyon Pipe & Supply, Inc. July 2021 USA Assets 100% The assets and liabilities acquired and the consideration for all acquisitions in the year are as follows: 2021 2020 $m $m Intangible assets: Software — 13 Trade names and brands 17 34 Customer relationships 132 101 Other 15 3 Right of use assets 12 30 Property, plant and equipment 11 19 Inventories 51 58 Trade and other receivables 45 62 Cash, cash equivalents and bank overdrafts 13 6 Lease liabilities (12) (30) Trade and other payables (30) (28) Deferred tax (10) (11) Provisions — (2) Total 244 255 Goodwill arising 80 78 Consideration 324 333 Satisfied by: Cash 299 321 Deferred consideration 25 12 Total consideration 324 333 The net outflow of cash in respect of the purchase of businesses is as follows: 2021 2020 2019 $m $m $m Purchase consideration 299 321 656 Deferred and contingent consideration in respect of acquisitions from prior years 49 36 12 Cash consideration 348 357 668 Cash, cash equivalents and bank overdrafts acquired (13) (6) (11) Net cash outflow in respect of the purchase of businesses 335 351 657

Disposals (Tables)

Disposals (Tables)	12 Months Ended
	Jul. 31, 2021
Discontinued Operations And Disposal Groups [Abstract]
Summary of the results from discontinued operations included in the Group income statement	The results from discontinued operations, which have been included in the Group income statement, are set out below: 2021 2020 2019 $m $m $m Revenue 1,138 1,879 2,281 Cost of sales (879) (1,440) (1,730) Gross profit 259 439 551 Operating costs: (loss)/gain on disposal of businesses (356) — 19 operating costs (205) (441) (479) other 174 (18) (21) Operating costs (387) (459) (481) Operating (loss)/profit (128) (20) 70 Net finance (costs)/income (2) (4) 4 (Loss)/profit before tax (130) (24) 74 Tax (charge)/credit (12) 10 (8) (Loss)/profit from discontinued operations (142) (14) 66 Basic earnings per share (63.6) ¢ (6.2) ¢ 28.7 ¢ Diluted earnings per share (63.2) ¢ (6.2) ¢ 28.5 ¢ The loss on current period disposal is as follows: 2021 2020 $m $m Consideration received 422 — Net assets disposed of (390) — Disposal costs and provisions (32) — Recycling of deferred foreign exchange losses (370) — Current period loss on disposal (370) — The net inflow of cash in respect of disposals of businesses related to discontinued operations is as follows: 2021 2020 2019 $m $m $m Cash consideration received for current period disposals (net of cash disposed of) 395 — 220 Cash consideration received in respect of prior year disposals 19 9 (2) Cash paid in respect of prior year disposals (2) (2) (16) Disposal costs paid (32) — (1) Net cash flow in respect of disposals of businesses 380 7 201

Changes in cash and cash equi_2

Changes in cash and cash equivalents, bank overdrafts and liabilities arising from financing activities (Tables)	12 Months Ended
	Jul. 31, 2021
Cash and cash equivalents [abstract]
Schedule of changes in cash and cash equivalents, bank overdrafts and liabilities arising from financing activities	Cash and (note 17) Bank Total cash, Derivative Loans (note 19) Obligations Total Lease Liabilities (note 12) Total $m $m $m $m $m $m $m $m $m At July 31, 2018 833 (375) 458 (2) (1,530) (6) (1,080) — (1,080) Cash movements Proceeds from loans and derivatives — (7) (750) — (757) — (757) Repayments of loans — — 2 — 2 — 2 Finance lease capital payments — — — 3 3 — 3 Changes due to disposal of businesses (1) — — — (1) — (1) Changes due to acquisition of businesses 11 — — (3) 8 — 8 Other cash flows 628 — — — 628 — 628 Non-cash movements Fair value and other adjustments — 25 (26) — (1) — (1) Exchange movements (10) 6 7 — 3 — 3 At July 31, 2019 1,133 (47) 1,086 22 (2,297) (6) (1,195) — (1,195) Adjustment on adoption of IFRS 16 — — — — — 6 6 (1,481) (1,475) At August 1, 2019 1,133 (47) 1,086 22 (2,297) — (1,189) (1,481) (2,670) Cash movements Proceeds from loans and derivatives — (7) (1,162) — (1,169) — (1,169) Repayments of loans — — 566 — 566 — 566 Lease liability capital payments (1) — — — — — 295 295 Interest paid on lease liabilities (1) — — — — — 53 53 Changes due to acquisition of businesses 6 — — — 6 — 6 Other cash flows 771 — — — 771 — 771 Non-cash movements Lease liability additions — — — — — (115) (115) Changes in lease liabilities due to acquisition of businesses — — — — — (30) (30) Discount unwinding on lease liabilities — — — — — (53) (53) Fair value and other adjustments — 28 (20) — 8 (16) (8) Exchange movements 4 (4) (5) — (5) (8) (13) At July 31, 2020 2,115 (248) 1,867 39 (2,918) — (1,012) (1,355) (2,367) Cash movements Proceeds from loans and derivatives — (4) — — (4) — (4) Repayments of loans — — 375 — 375 — 375 Lease liability capital payments (1) — — — — — 296 296 Interest paid on lease liabilities (1) — — — — — 46 46 Changes due to disposal of businesses (27) — — — (27) 133 106 Changes due to acquisition of businesses 13 — — — 13 — 13 Other cash flows (702) — — — (702) — (702) Non-cash movements Lease liability additions — — — — — (97) (97) Discount unwinding on lease liabilities — — — — — (46) (46) Changes in lease liabilities due to acquisition of businesses — — — — — (12) (12) Fair value and other adjustments — (13) 15 — 2 (44) (42) Exchange movements 1 (1) — — — (11) (11) At July 31, 2021 1,335 (183) 1,152 21 (2,528) — (1,355) (1,090) (2,445) (1) Total cash outflow in relation to leases including short term leases, leases of low value assets and sublease income in the year ended July 31, 2021, was $359 million (2020: $377 million).

Accounting policies - Narrative

Accounting policies - Narrative (Details) $ in Millions	12 Months Ended
	Jul. 31, 2021USD ($)
Trade receivables
Disclosure of financial assets [line items]
Expected credit loss rate	100.00%
Loss allowance, period past due	180 days
Pounds sterling
Disclosure of financial assets [line items]
Reserve of exchange differences on translation	$ 213
U.S. dollars
Disclosure of financial assets [line items]
Reserve of exchange differences on translation	181
Other currencies
Disclosure of financial assets [line items]
Reserve of exchange differences on translation	$ 4

Accounting policies - Estimated

Accounting policies - Estimated Useful Lives of Intangible Assets (Details)	12 Months Ended
	Jul. 31, 2021
Customer relationships | Minimum
Disclosure of detailed information about intangible assets [line items]
Useful life measured as period of time, intangible assets other than goodwill	4 years
Customer relationships | Maximum
Disclosure of detailed information about intangible assets [line items]
Useful life measured as period of time, intangible assets other than goodwill	25 years
Trade names and brands | Minimum
Disclosure of detailed information about intangible assets [line items]
Useful life measured as period of time, intangible assets other than goodwill	1 year
Trade names and brands | Maximum
Disclosure of detailed information about intangible assets [line items]
Useful life measured as period of time, intangible assets other than goodwill	15 years
Other | Minimum
Disclosure of detailed information about intangible assets [line items]
Useful life measured as period of time, intangible assets other than goodwill	1 year
Other | Maximum
Disclosure of detailed information about intangible assets [line items]
Useful life measured as period of time, intangible assets other than goodwill	4 years
Software | Minimum
Disclosure of detailed information about intangible assets [line items]
Useful life measured as period of time, intangible assets other than goodwill	3 years
Software | Maximum
Disclosure of detailed information about intangible assets [line items]
Useful life measured as period of time, intangible assets other than goodwill	5 years

Accounting policies - Estimat_2

Accounting policies - Estimated Useful Life of Depreciable Assets (Details)	12 Months Ended
	Jul. 31, 2021
Freehold buildings | Minimum
Disclosure of detailed information about property, plant and equipment [line items]
Useful life measured as period of time, property, plant and equipment	20 years
Freehold buildings | Maximum
Disclosure of detailed information about property, plant and equipment [line items]
Useful life measured as period of time, property, plant and equipment	50 years
Plant and machinery | Minimum
Disclosure of detailed information about property, plant and equipment [line items]
Useful life measured as period of time, property, plant and equipment	7 years
Plant and machinery | Maximum
Disclosure of detailed information about property, plant and equipment [line items]
Useful life measured as period of time, property, plant and equipment	10 years
Computer hardware | Minimum
Disclosure of detailed information about property, plant and equipment [line items]
Useful life measured as period of time, property, plant and equipment	3 years
Computer hardware | Maximum
Disclosure of detailed information about property, plant and equipment [line items]
Useful life measured as period of time, property, plant and equipment	5 years
Fixtures and fittings | Minimum
Disclosure of detailed information about property, plant and equipment [line items]
Useful life measured as period of time, property, plant and equipment	5 years
Fixtures and fittings | Maximum
Disclosure of detailed information about property, plant and equipment [line items]
Useful life measured as period of time, property, plant and equipment	7 years
Motor vehicles
Disclosure of detailed information about property, plant and equipment [line items]
Useful life measured as period of time, property, plant and equipment	4 years

Segment analysis - Narrative (D

Segment analysis - Narrative (Details)	12 Months Ended
	Jul. 31, 2021reportableSegment
Disclosure of operating segments [abstract]
Number of reportable segments	1

Segment analysis - Segment Reve

Segment analysis - Segment Revenue from External Customers (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020		Jul. 31, 2019
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from external customers	$ 22,792	$ 19,940	[1]	$ 19,729	[1],[2]
USA
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from external customers	21,478	18,857		18,358
Canada and Central Europe
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from external customers	$ 1,314	$ 1,083		$ 1,371
[1]	The Group disposed of its shares in Wolseley UK Limited (“UK business”) on January 29, 2021. The UK results have been reclassified to discontinued operations and the prior year comparative results have been restated throughout the consolidated financial statements. See note 6 for further details.
[2]	The Group adopted IFRS 16 “Leases” on August 1, 2019 applying the modified retrospective transition method. As a result, comparatives have not been restated and are shown on an IAS 17 “Leases” basis. See note 1 for further details.

Segment analysis - Additional D

Segment analysis - Additional Disaggregation of Revenue by End Market (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020		Jul. 31, 2019
Disclosure of disaggregation of revenue from contracts with customers [line items]
Continuing operations	$ 22,792	$ 19,940	[1]	$ 19,729	[1],[2]
USA
Disclosure of disaggregation of revenue from contracts with customers [line items]
Continuing operations	21,478	18,857		18,358
USA | Residential
Disclosure of disaggregation of revenue from contracts with customers [line items]
Continuing operations	11,990	10,087		9,599
USA | Commercial
Disclosure of disaggregation of revenue from contracts with customers [line items]
Continuing operations	6,661	6,116		6,054
USA | Civil/Infrastructure
Disclosure of disaggregation of revenue from contracts with customers [line items]
Continuing operations	1,506	1,315		1,212
USA | Industrial
Disclosure of disaggregation of revenue from contracts with customers [line items]
Continuing operations	1,321	1,339		1,493
Canada and Central Europe
Disclosure of disaggregation of revenue from contracts with customers [line items]
Continuing operations	$ 1,314	$ 1,083		$ 1,371
[1]	The Group disposed of its shares in Wolseley UK Limited (“UK business”) on January 29, 2021. The UK results have been reclassified to discontinued operations and the prior year comparative results have been restated throughout the consolidated financial statements. See note 6 for further details.
[2]	The Group adopted IFRS 16 “Leases” on August 1, 2019 applying the modified retrospective transition method. As a result, comparatives have not been restated and are shown on an IAS 17 “Leases” basis. See note 1 for further details.

Segment analysis - Reconciliati

Segment analysis - Reconciliation Between Underlying Trading Profit by Reportable Segment and Profit Before Tax (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020		Jul. 31, 2019
Disclosure of operating segments [line items]
Underlying trading profit	$ 2,149	$ 1,630		$ 1,584
Central and other costs	(50)	(38)		(45)
Gain on disposal of businesses	0	0		38
Business restructuring	11	(72)		(79)
Corporate restructuring	(22)	(25)		0
Pension plan changes/closure	0	0		(9)
Net finance costs	(144)	(140)		(74)
Share of profit/(loss) after tax of associates	1	(2)	[1]	2	[1],[2]
Gain on disposal of interests in associates and other investments	0	7	[1]	3	[1],[2]
Impairment of interests in associates	0	(22)	[1]	(9)	[1],[2]
Impact of leases	77	68		0
Profit before tax	1,891	1,292	[1]	1,301	[1],[2]
Acquired
Disclosure of operating segments [line items]
Amortization charge for the year	(131)	(114)		(110)
USA
Disclosure of operating segments [line items]
Underlying trading profit	2,073	1,587		1,508
Canada and Central Europe
Disclosure of operating segments [line items]
Underlying trading profit	$ 76	$ 43		$ 76
[1]	The Group disposed of its shares in Wolseley UK Limited (“UK business”) on January 29, 2021. The UK results have been reclassified to discontinued operations and the prior year comparative results have been restated throughout the consolidated financial statements. See note 6 for further details.
[2]	The Group adopted IFRS 16 “Leases” on August 1, 2019 applying the modified retrospective transition method. As a result, comparatives have not been restated and are shown on an IAS 17 “Leases” basis. See note 1 for further details.

Segment analysis - Other Inform

Segment analysis - Other Information on Assets and Liabilities by Segment (Details) - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020
Disclosure of operating segments [line items]
Segment assets	$ 13,485	$ 13,456
Segment liabilities	(8,675)	(9,085)
Net assets	4,810	4,371
Total reportable segments
Disclosure of operating segments [line items]
Segment assets	11,681	9,941
Segment liabilities	(5,533)	(4,717)
Net assets	6,148	5,224
All other segments | Central and other costs
Disclosure of operating segments [line items]
Segment assets	140	49
Segment liabilities	(119)	(159)
Net assets	21	(110)
All other segments | Discontinued operations
Disclosure of operating segments [line items]
Segment assets	1	1,096
Segment liabilities	(9)	(724)
Net assets	(8)	372
All other segments | Tax assets/(liabilities)
Disclosure of operating segments [line items]
Segment assets	307	216
Segment liabilities	(303)	(319)
Net assets	4	(103)
All other segments | Derivative financial assets/(liabilities)
Disclosure of operating segments [line items]
Segment assets	21	39
Segment liabilities	0	0
Net assets	21	39
All other segments | Cash and cash equivalents
Disclosure of operating segments [line items]
Segment assets	1,335	2,115
Segment liabilities	0	0
Net assets	1,335	2,115
All other segments | Borrowings
Disclosure of operating segments [line items]
Segment assets	0	0
Segment liabilities	(2,711)	(3,166)
Net assets	(2,711)	(3,166)
USA | Total reportable segments
Disclosure of operating segments [line items]
Segment assets	10,959	9,338
Segment liabilities	(5,205)	(4,402)
Net assets	5,754	4,936
Canada | Total reportable segments
Disclosure of operating segments [line items]
Segment assets	722	603
Segment liabilities	(328)	(315)
Net assets	$ 394	$ 288

Segment analysis - Geographical

Segment analysis - Geographical Information on Non-Current Assets (Details) - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020
Disclosure of operating segments [line items]
Group	$ 4,508	$ 4,746
USA
Disclosure of operating segments [line items]
Group	4,242	4,134
Canada
Disclosure of operating segments [line items]
Group	263	255
UK
Disclosure of operating segments [line items]
Group	$ 3	$ 357

Segment analysis - Additions to

Segment analysis - Additions to Group (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Disclosure of operating segments [line items]
Additions	$ 94	$ 115
Additions to property, plant and equipment	174	214
Acquired
Disclosure of operating segments [line items]
Additions to intangible assets other than goodwill	164	138
Non-acquired
Disclosure of operating segments [line items]
Additions to intangible assets other than goodwill	72	87
Goodwill
Disclosure of operating segments [line items]
Additions to goodwill	80	78
Discontinued operations
Disclosure of operating segments [line items]
Additions	2	19
Additions to property, plant and equipment	4	13
Discontinued operations | Acquired
Disclosure of operating segments [line items]
Additions to intangible assets other than goodwill	0	31
Discontinued operations | Non-acquired
Disclosure of operating segments [line items]
Additions to intangible assets other than goodwill	2	5
Discontinued operations | Goodwill
Disclosure of operating segments [line items]
Additions to goodwill	0	12
Total reportable segments
Disclosure of operating segments [line items]
Additions	92	96
Additions to property, plant and equipment	170	201
Total reportable segments | Acquired
Disclosure of operating segments [line items]
Additions to intangible assets other than goodwill	164	107
Total reportable segments | Non-acquired
Disclosure of operating segments [line items]
Additions to intangible assets other than goodwill	70	82
Total reportable segments | Goodwill
Disclosure of operating segments [line items]
Additions to goodwill	80	66
USA | Total reportable segments
Disclosure of operating segments [line items]
Additions	84	86
Additions to property, plant and equipment	165	199
USA | Total reportable segments | Acquired
Disclosure of operating segments [line items]
Additions to intangible assets other than goodwill	164	107
USA | Total reportable segments | Non-acquired
Disclosure of operating segments [line items]
Additions to intangible assets other than goodwill	66	79
USA | Total reportable segments | Goodwill
Disclosure of operating segments [line items]
Additions to goodwill	80	66
Canada | Total reportable segments
Disclosure of operating segments [line items]
Additions	8	10
Additions to property, plant and equipment	5	2
Canada | Total reportable segments | Acquired
Disclosure of operating segments [line items]
Additions to intangible assets other than goodwill	0	0
Canada | Total reportable segments | Non-acquired
Disclosure of operating segments [line items]
Additions to intangible assets other than goodwill	4	3
Canada | Total reportable segments | Goodwill
Disclosure of operating segments [line items]
Additions to goodwill	$ 0	$ 0

Segment analysis - Impairment,

Segment analysis - Impairment, Amortization and Depreciation to Group (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Disclosure of operating segments [line items]
Impairment of goodwill, other acquired intangible assets and interests in associates	$ 0	$ 22
Depreciation and impairment of right of use assets	254	278	$ 0
Depreciation and impairment of property, plant and equipment	136	159	147
Acquired
Disclosure of operating segments [line items]
Amortization of intangible assets other than goodwill	131	114	110
Non-acquired
Disclosure of operating segments [line items]
Amortization of intangible assets other than goodwill	37	29	$ 23
Amortization of non-acquired intangible assets	39	35
Intangible assets other than goodwill | Acquired
Disclosure of operating segments [line items]
Amortization of intangible assets other than goodwill	134	130
Discontinued operations
Disclosure of operating segments [line items]
Impairment of goodwill, other acquired intangible assets and interests in associates	0	0
Amortization of intangible assets other than goodwill	5	22
Depreciation and impairment of right of use assets	13	37
Depreciation and impairment of property, plant and equipment	6	20
Discontinued operations | Non-acquired
Disclosure of operating segments [line items]
Amortization of non-acquired intangible assets	2	6
Discontinued operations | Intangible assets other than goodwill | Acquired
Disclosure of operating segments [line items]
Amortization of intangible assets other than goodwill	3	16
Total reportable segments
Disclosure of operating segments [line items]
Impairment of goodwill, other acquired intangible assets and interests in associates	0	0
Depreciation and impairment of right of use assets	240	240
Depreciation and impairment of property, plant and equipment	130	138
Total reportable segments | Non-acquired
Disclosure of operating segments [line items]
Amortization of non-acquired intangible assets	36	28
Total reportable segments | Intangible assets other than goodwill | Acquired
Disclosure of operating segments [line items]
Amortization of intangible assets other than goodwill	131	114
Central and other costs
Disclosure of operating segments [line items]
Impairment of goodwill, other acquired intangible assets and interests in associates	0	22
Depreciation and impairment of right of use assets	1	1
Depreciation and impairment of property, plant and equipment	0	1
Central and other costs | Non-acquired
Disclosure of operating segments [line items]
Amortization of non-acquired intangible assets	1	1
Central and other costs | Intangible assets other than goodwill | Acquired
Disclosure of operating segments [line items]
Amortization of intangible assets other than goodwill	0	0
USA | Total reportable segments
Disclosure of operating segments [line items]
Impairment of goodwill, other acquired intangible assets and interests in associates	0	0
Depreciation and impairment of right of use assets	224	226
Depreciation and impairment of property, plant and equipment	123	131
USA | Total reportable segments | Non-acquired
Disclosure of operating segments [line items]
Amortization of non-acquired intangible assets	34	26
USA | Total reportable segments | Intangible assets other than goodwill | Acquired
Disclosure of operating segments [line items]
Amortization of intangible assets other than goodwill	131	113
Canada | Total reportable segments
Disclosure of operating segments [line items]
Impairment of goodwill, other acquired intangible assets and interests in associates	0	0
Depreciation and impairment of right of use assets	16	14
Depreciation and impairment of property, plant and equipment	7	7
Canada | Total reportable segments | Non-acquired
Disclosure of operating segments [line items]
Amortization of non-acquired intangible assets	2	2
Canada | Total reportable segments | Intangible assets other than goodwill | Acquired
Disclosure of operating segments [line items]
Amortization of intangible assets other than goodwill	$ 0	$ 1

Operating profit (Details)

Operating profit (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Disclosure of detailed information about intangible assets [line items]
Depreciation of right of use assets	$ 241	$ 233	$ 0
Impairment of right of use assets	0	8	0
Depreciation of property, plant and equipment	130	135	126
Impairment of property, plant and equipment	0	4	0
Gain on disposal of businesses	0	0	(38)
Amounts included in cost of sales with respect to inventory	15,637	13,804	13,699
Staff costs	3,143	2,891	2,896
Trade receivables impairment	(3)	10	5
Land and buildings
Disclosure of detailed information about intangible assets [line items]
Operating lease rentals	0	0	223
Plant and machinery
Disclosure of detailed information about intangible assets [line items]
Operating lease rentals	0	0	78
Acquired
Disclosure of detailed information about intangible assets [line items]
Amortization of intangible assets other than goodwill	131	114	110
Non-acquired
Disclosure of detailed information about intangible assets [line items]
Amortization of intangible assets other than goodwill	$ 37	$ 29	$ 23

Net finance costs (Details)

Net finance costs (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020		Jul. 31, 2019
Analysis of income and expense [abstract]
Finance income	$ 1	$ 7	[1]	$ 12	[1],[2]
Interest cost on borrowings	(101)	(108)		(97)
Unwind of fair value adjustment to senior unsecured loan notes	2	5		6
Lease liability expense	(44)	(49)		0
Net interest (expense)/income on defined benefit obligation	(2)	3		5
Valuation gains on financial instruments	0	2		0
Finance costs	(145)	(147)	[1]	(86)	[1],[2]
Total net finance costs	$ (144)	$ (140)		$ (74)
[1]	The Group disposed of its shares in Wolseley UK Limited (“UK business”) on January 29, 2021. The UK results have been reclassified to discontinued operations and the prior year comparative results have been restated throughout the consolidated financial statements. See note 6 for further details.
[2]	The Group adopted IFRS 16 “Leases” on August 1, 2019 applying the modified retrospective transition method. As a result, comparatives have not been restated and are shown on an IAS 17 “Leases” basis. See note 1 for further details.

Tax - Summary of Tax Charges (D

Tax - Summary of Tax Charges (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020		Jul. 31, 2019
Income Taxes [Abstract]
Current year tax charge	$ 394	$ 294		$ 306
Adjustments to tax charge in respect of prior years	19	(16)		4
Total current tax charge	413	278		310
Deferred tax (credit)/charge: origination and reversal of temporary differences	(172)	39		(51)
Total tax charge	$ 241	$ 317	[1]	$ 259	[1],[2]
[1]	The Group disposed of its shares in Wolseley UK Limited (“UK business”) on January 29, 2021. The UK results have been reclassified to discontinued operations and the prior year comparative results have been restated throughout the consolidated financial statements. See note 6 for further details.
[2]	The Group adopted IFRS 16 “Leases” on August 1, 2019 applying the modified retrospective transition method. As a result, comparatives have not been restated and are shown on an IAS 17 “Leases” basis. See note 1 for further details.

Tax - Narrative (Details)

Tax - Narrative (Details) - USD ($)	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Income Taxes [Abstract]
Deferred tax (credit)/charge: origination and reversal of temporary differences	$ (172,000,000)	$ 39,000,000	$ (51,000,000)
Deferred tax expense (income) relating to tax rate changes	29,000,000	5,000,000	(4,000,000)
Increased current tax charge	0
Tax charge (credit) relating to profit from ordinary activities of discontinued operations	12,000,000	(10,000,000)	8,000,000
Tax credit within the statement of other comprehensive income relating to changes in tax rates	8,000,000	0	0
Tax charge in the statement of changes in equity relating to changes in tax rates	0	0	0
Provisions recognized in respect of uncertain tax positions	138,000,000	$ 294,000,000	$ 254,000,000
Decrease in deferred tax liability (asset)	$ (156,000,000)

Tax - Summary of Tax on Items C

Tax - Summary of Tax on Items Charge to Comprehensive Income (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Income Taxes [Abstract]
Deferred tax (charge)/credit on remeasurement of retirement benefit plans	$ (19)	$ 44	$ 6
Total tax on items (charge)/credit to the Group statement of comprehensive income	$ (19)	$ 44	$ 6

Tax - Summary of Items Credited

Tax - Summary of Items Credited to Equity (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Income Taxes [Abstract]
Current tax credit on share-based payments	$ 5	$ 6	$ 5
Deferred tax credit on share-based payments	4	5	1
Total tax on items credited to equity	$ 9	$ 11	$ 6

Tax - Summary of Tax Reconcilia

Tax - Summary of Tax Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020		Jul. 31, 2019
Reconciliation of accounting profit multiplied by applicable tax rates [abstract]
Profit before tax	$ 1,891	$ 1,292		$ 1,301
Expected tax at weighted average tax rate	(431)	(272)		(216)
Over/(under) provisions in respect of prior periods	11	(2)		(5)
current year credit/(charge) in relation to uncertain tax provisions	138	(33)		(35)
tax credits and incentives	12	6		4
non-taxable income	18	8		3
recognition of previously unrecognized deferred tax asset	0	0		11
other	(18)	(29)		(17)
effect of tax rate changes	29	5		(4)
Total tax (charge)/credit	$ (241)	$ (317)	[1]	$ (259)	[1],[2]
Reconciliation of average effective tax rate and applicable tax rate [abstract]
Expected tax at weighted average tax rate	22.80%	21.00%		16.60%
Over/(under) provisions in respect of prior periods	(0.60%)	0.20%		0.40%
current year credit/(charge) in relation to uncertain tax provisions	(7.40%)	2.60%		2.70%
tax credits and incentives	(0.60%)	(0.50%)		(0.30%)
non-taxable income	(1.00%)	(0.60%)		(0.20%)
recognition of previously unrecognized deferred tax asset	0.00%	0.00%		(0.90%)
other	1.00%	2.20%		1.30%
effect of tax rate changes	(1.50%)	(0.40%)		0.30%
effective tax rate	12.70%	24.50%		19.90%
[1]	The Group disposed of its shares in Wolseley UK Limited (“UK business”) on January 29, 2021. The UK results have been reclassified to discontinued operations and the prior year comparative results have been restated throughout the consolidated financial statements. See note 6 for further details.
[2]	The Group adopted IFRS 16 “Leases” on August 1, 2019 applying the modified retrospective transition method. As a result, comparatives have not been restated and are shown on an IAS 17 “Leases” basis. See note 1 for further details.

Discontinued operations (Detail

Discontinued operations (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020		Jul. 31, 2019
Non-Current Assets Held For Sale And Discontinued Operations [Abstract]
Revenue	$ 1,138	$ 1,879		$ 2,281
Cost of sales	(879)	(1,440)		(1,730)
Gross profit	259	439		551
(loss)/gain on disposal of businesses	(356)	0		19
operating costs	(205)	(441)		(479)
other	174	(18)		(21)
Operating costs	(387)	(459)		(481)
Operating (loss)/profit	(128)	(20)		70
Net finance (costs)/income	(2)	(4)		4
(Loss)/profit before tax	(130)	(24)		74
Tax (charge)/credit	(12)	10		(8)
(Loss)/profit from discontinued operations	$ (142)	$ (14)	[1]	$ 66	[1],[2]
Basic earnings per share from discontinued operations (in US cents per share)	$ (0.636)	$ (0.062)		$ 0.287
Diluted earnings per share from discontinued operations (in US cents per share)	$ (0.632)	$ (0.062)		$ 0.285
[1]	The Group disposed of its shares in Wolseley UK Limited (“UK business”) on January 29, 2021. The UK results have been reclassified to discontinued operations and the prior year comparative results have been restated throughout the consolidated financial statements. See note 6 for further details.
[2]	The Group adopted IFRS 16 “Leases” on August 1, 2019 applying the modified retrospective transition method. As a result, comparatives have not been restated and are shown on an IAS 17 “Leases” basis. See note 1 for further details.

Discontinued operations - Narra

Discontinued operations - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Disclosure of analysis of single amount of discontinued operations [line items]
Cash flows from operating activities, discontinued operations	$ 32	$ 113	$ 2
Cash flows from (used in) investing activities, discontinued operations	390	(54)	(121)
Net cash inflow from the disposal of businesses	380	7	98
Cash flows from (used in) financing activities, discontinued operations	(19)	(35)	$ (1)
UK Businesses
Disclosure of analysis of single amount of discontinued operations [line items]
Loss on current year disposal of businesses	(370)	0
Gain on prior year disposal of businesses	14	0
Impairment loss recognized in profit or loss, assets classified as held for sale, discontinued operations	(63)
Recycling of deferred foreign exchange losses	235
Expense of restructuring activities, discontinued operations	$ 2	18
Inventory write-down, discontinued operations		$ 3

Dividends - Amounts recognized

Dividends - Amounts recognized as distributions to equity shareholders (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Disclosure Of Dividends [Line Items]
Dividends paid	$ 1,034	$ 327	$ 449
Final Dividend
Disclosure Of Dividends [Line Items]
Dividends paid	$ 467	$ 327	$ 303
Dividends paid (in US cents per share)	$ 208.2	$ 145.1	$ 131.9
Interim Dividend
Disclosure Of Dividends [Line Items]
Dividends paid	$ 163		$ 146
Dividends paid (in US cents per share)	$ 72.9		$ 63.1
Special Dividend
Disclosure Of Dividends [Line Items]
Dividends paid	$ 404
Dividends paid (in US cents per share)	$ 180

Dividends - Narrative (Details)

Dividends - Narrative (Details) - Final Dividend - Potential ordinary share transactions $ / shares in Units, $ in Millions	2 Months Ended
	Sep. 29, 2021USD ($)$ / shares
Disclosure Of Dividends [Line Items]
Dividends proposed before financial statements authorised for issue but not included in balance sheet | $	$ 369
Dividends proposed before financial statements authorised for issue but not included in balance sheet (in US cents per share) | $ / shares	$ 1.665

Earnings per share (Details)

Earnings per share (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020		Jul. 31, 2019
Earnings
Profit from continuing and discontinued operations attributable to shareholders of the Company	$ 1,508	$ 961		$ 1,108
(Profit) loss from discontinued operations	142	14		(66)
Profit from continuing operations	$ 1,650	$ 975		$ 1,042
Basic earnings per share
Profit from continuing and discontinued operations attributable to shareholders of the Company (in US cents per share)	$ 6.747	$ 4.275	[1]	$ 4.813	[1],[2]
(Profit) loss from discontinued operations (in US cents per share)	0.636	0.062		(0.287)
Basic earnings per share, Continuing operations only (in US cents per share)	7.383	4.337	[1]	4.526	[1],[2]
Diluted earnings per share
Profit from continuing and discontinued operations attributable to shareholders of the Company (in US cents per share)	6.705	4.235	[1]	4.778	[1],[2]
(profit) loss from discontinued operations (in US cents per share)	0.632	0.062		(0.285)
Diluted earnings per share, Continuing operations only (in US cents per share)	$ 7.337	$ 4.297	[1]	$ 4.493	[1],[2]
[1]	The Group disposed of its shares in Wolseley UK Limited (“UK business”) on January 29, 2021. The UK results have been reclassified to discontinued operations and the prior year comparative results have been restated throughout the consolidated financial statements. See note 6 for further details.
[2]	The Group adopted IFRS 16 “Leases” on August 1, 2019 applying the modified retrospective transition method. As a result, comparatives have not been restated and are shown on an IAS 17 “Leases” basis. See note 1 for further details.

Earnings per share - Narrative

Earnings per share - Narrative (Details) - shares shares in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Earnings per share [abstract]
Weighted-average shares outstanding, basic (in shares)	223.5	224.8	230.2
Weighted-average shares outstanding, diluted (in shares)	224.9	226.9	231.9

Employee and key management i_3

Employee and key management information - Summary of staff costs (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Number and average number of employees [abstract]
Wages and salaries	$ 2,807	$ 2,627	$ 2,605
Social security costs	182	169	173
Pension costs—defined contribution plans	74	68	77
Pension costs—defined benefit plans	3	3	11
Share-based payments	77	24	30
Total staff costs	$ 3,143	$ 2,891	$ 2,896

Employee and key management i_4

Employee and key management information - Narrative (Details) $ in Millions	12 Months Ended
	Jul. 31, 2021USD ($)employee	Jul. 31, 2020USD ($)employee	Jul. 31, 2019USD ($)employee
Disclosure of analysis of single amount of discontinued operations [line items]
Staff costs | $	$ 3,143	$ 2,891	$ 2,896
Average number of employees | employee	29,538	29,632	30,542
Discontinued operations
Disclosure of analysis of single amount of discontinued operations [line items]
Staff costs | $	$ 124	$ 246	$ 267
Average number of employees | employee	2,386	5,005	5,397

Employee and key management i_5

Employee and key management information - Summary of average number of employees (Details) - employee	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Disclosure of geographical areas [line items]
Average number of employees	29,538	29,632	30,542
USA
Disclosure of geographical areas [line items]
Average number of employees	27,032	27,085	27,489
Canada and Central Europe
Disclosure of geographical areas [line items]
Average number of employees	2,443	2,473	2,974
Central and other
Disclosure of geographical areas [line items]
Average number of employees	63	74	79

Employee and key management i_6

Employee and key management information - Summary of key management personnel compensation (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Disclosure of transactions between related parties [line items]
Share-based payments	$ 77	$ 24	$ 30
Total staff costs	3,143	2,891	2,896
Key management personnel of entity or parent
Disclosure of transactions between related parties [line items]
Salaries, bonuses and other short term employee benefits	16	16	13
Post-employment benefits	2	1	1
Share-based payments	18	8	11
Total staff costs	$ 36	$ 25	$ 25

Intangible assets_goodwill - Ro

Intangible assets—goodwill - Roll forward (Details) - Goodwill - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Reconciliation of changes in intangible assets and goodwill [abstract]
Beginning of period	$ 1,721
Acquisitions	80	$ 78
End of period	1,757	1,721
Net book value at July 31	1,757	1,721
Cost
Reconciliation of changes in intangible assets and goodwill [abstract]
Beginning of period	1,861	1,789
Exchange rate adjustment	15	8
Acquisitions	80	78
Adjustment to fair value on prior year acquisitions	0	(14)
Reclassification as held for sale	162	0
End of period	1,794	1,861
Net book value at July 31	1,794	1,861
Accumulated impairment losses
Reconciliation of changes in intangible assets and goodwill [abstract]
Beginning of period	(140)	(133)
Exchange rate adjustment	(3)	(7)
Reclassification as held for sale	(106)	0
End of period	(37)	(140)
Net book value at July 31	$ (37)	$ (140)

Intangible assets_goodwill - Al

Intangible assets—goodwill - Allocation of Goodwill to CGUs (Details) - Goodwill - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Goodwill	$ 1,757	$ 1,721
Blended Branches(1)
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Goodwill	1,096	1,038
Waterworks
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Goodwill	192	183
Rest of USA(1)
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Goodwill	$ 319	$ 306
USA
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Long term growth rate (%)	2.20%	2.20%
Goodwill	$ 1,607	$ 1,527
USA | Post-tax
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Discount rate (%)	7.50%	8.10%
USA | Pre-tax
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Discount rate (%)	10.30%	10.80%
UK
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Long term growth rate (%)		1.50%
Goodwill	$ 0	$ 55
UK | Post-tax
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Discount rate (%)		7.70%
UK | Pre-tax
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Discount rate (%)		9.40%
Canada
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Long term growth rate (%)	2.00%	1.30%
Goodwill	$ 150	$ 139
Canada | Post-tax
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Discount rate (%)	8.00%	7.80%
Canada | Pre-tax
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Discount rate (%)	10.90%	10.80%

Intangible assets_other - Roll

Intangible assets—other - Roll forward (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets other than goodwill at beginning of period	$ 521
Intangible assets other than goodwill at end of period	546	$ 521
Net book value	546	521
Software
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets other than goodwill at beginning of period	141
Intangible assets other than goodwill at end of period	149	141
Net book value	149	141
Trade names and brands
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets other than goodwill at beginning of period	107
Intangible assets other than goodwill at end of period	89	107
Net book value	89	107
Customer relationships
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets other than goodwill at beginning of period	230
Intangible assets other than goodwill at end of period	265	230
Net book value	265	230
Other
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets other than goodwill at beginning of period	43
Intangible assets other than goodwill at end of period	43	43
Net book value	43	43
Cost
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets other than goodwill at beginning of period	1,497	1,236
Exchange rate adjustment	6	10
Acquisitions	164	151
Adjustment to fair value on prior year acquisitions		15
Additions	72	87
Disposals and transfers		2
Disposals and transfers	10
Intangible assets other than goodwill at end of period	1,579	1,497
Reclassification as held for sale	150
Net book value	1,579	1,497
Cost | Software
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets other than goodwill at beginning of period	306	203
Exchange rate adjustment	3	5
Acquisitions	0	13
Adjustment to fair value on prior year acquisitions		0
Additions	72	87
Disposals and transfers		2
Disposals and transfers	10
Intangible assets other than goodwill at end of period	305	306
Reclassification as held for sale	66
Net book value	305	306
Cost | Trade names and brands
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets other than goodwill at beginning of period	231	192
Exchange rate adjustment	0	1
Acquisitions	17	34
Adjustment to fair value on prior year acquisitions		4
Additions	0	0
Disposals and transfers		0
Disposals and transfers	0
Intangible assets other than goodwill at end of period	230	231
Reclassification as held for sale	18
Net book value	230	231
Cost | Customer relationships
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets other than goodwill at beginning of period	787	673
Exchange rate adjustment	3	4
Acquisitions	132	101
Adjustment to fair value on prior year acquisitions		9
Additions	0	0
Disposals and transfers		0
Disposals and transfers	0
Intangible assets other than goodwill at end of period	857	787
Reclassification as held for sale	65
Net book value	857	787
Cost | Other
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets other than goodwill at beginning of period	173	168
Exchange rate adjustment	0	0
Acquisitions	15	3
Adjustment to fair value on prior year acquisitions		2
Additions	0	0
Disposals and transfers		0
Disposals and transfers	0
Intangible assets other than goodwill at end of period	187	173
Reclassification as held for sale	1
Net book value	187	173
Accumulated amortization and impairment losses
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets other than goodwill at beginning of period	(976)	(813)
Exchange rate adjustment	(4)	(6)
Amortization charge for the year	173	165
Disposals and transfers		(8)
Disposals and transfers	(12)
Intangible assets other than goodwill at end of period	(1,033)	(976)
Reclassification as held for sale	(108)
Net book value	(1,033)	(976)
Accumulated amortization and impairment losses | Software
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets other than goodwill at beginning of period	(165)	(136)
Exchange rate adjustment	(2)	(2)
Amortization charge for the year	39	35
Disposals and transfers		(8)
Disposals and transfers	(12)
Intangible assets other than goodwill at end of period	(156)	(165)
Reclassification as held for sale	(38)
Net book value	(156)	(165)
Accumulated amortization and impairment losses | Trade names and brands
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets other than goodwill at beginning of period	(124)	(95)
Exchange rate adjustment	0	(1)
Amortization charge for the year	28	28
Disposals and transfers		0
Disposals and transfers	0
Intangible assets other than goodwill at end of period	(141)	(124)
Reclassification as held for sale	(11)
Net book value	(141)	(124)
Accumulated amortization and impairment losses | Customer relationships
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets other than goodwill at beginning of period	(557)	(469)
Exchange rate adjustment	(2)	(3)
Amortization charge for the year	91	85
Disposals and transfers		0
Disposals and transfers	0
Intangible assets other than goodwill at end of period	(592)	(557)
Reclassification as held for sale	(58)
Net book value	(592)	(557)
Accumulated amortization and impairment losses | Other
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets other than goodwill at beginning of period	(130)	(113)
Exchange rate adjustment	0	0
Amortization charge for the year	15	17
Disposals and transfers		0
Disposals and transfers	0
Intangible assets other than goodwill at end of period	(144)	(130)
Reclassification as held for sale	(1)
Net book value	$ (144)	$ (130)

Intangible assets_other - Narra

Intangible assets—other - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Disclosure of intangible assets material to entity [line items]
Net book value	$ 546	$ 521
Discontinued operations
Disclosure of intangible assets material to entity [line items]
Amortization charge for the year	5	22
Customer relationships
Disclosure of intangible assets material to entity [line items]
Net book value	265	230
Customer relationships | Jones Stephens
Disclosure of intangible assets material to entity [line items]
Net book value	$ 69	$ 80
Remaining amortisation period	7 years	8 years
Software
Disclosure of intangible assets material to entity [line items]
Net book value	$ 149	$ 141
Software | Discontinued operations
Disclosure of intangible assets material to entity [line items]
Amortization charge for the year	$ 2	$ 6

Right of use assets and lease_2

Right of use assets and leases - Movement in right of use assets (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Disclosure of quantitative information about right-of-use assets [line items]
Net book value at beginning of period	$ 1,111	$ 0
Exchange rate adjustment	8	8
Acquisitions	12	30
Additions	94	115
Disposals and remeasurements	50	16
Depreciation charge for the year	(254)	(268)
Impairment charge for the year		(10)
Reclassification as held for sale	(126)
Net book value at end of period	895	1,111
Adjustment on adoption of IFRS 16
Disclosure of quantitative information about right-of-use assets [line items]
Net book value at beginning of period		1,220
After adjustment
Disclosure of quantitative information about right-of-use assets [line items]
Net book value at beginning of period		1,220
Land and buildings
Disclosure of quantitative information about right-of-use assets [line items]
Net book value at beginning of period	849	0
Exchange rate adjustment	7	8
Acquisitions	12	28
Additions	45	54
Disposals and remeasurements	66	19
Depreciation charge for the year	(181)	(191)
Impairment charge for the year		(9)
Reclassification as held for sale	(108)
Net book value at end of period	690	849
Land and buildings | Adjustment on adoption of IFRS 16
Disclosure of quantitative information about right-of-use assets [line items]
Net book value at beginning of period		940
Land and buildings | After adjustment
Disclosure of quantitative information about right-of-use assets [line items]
Net book value at beginning of period		940
Plant and machinery
Disclosure of quantitative information about right-of-use assets [line items]
Net book value at beginning of period	262	0
Exchange rate adjustment	1	0
Acquisitions	0	2
Additions	49	61
Disposals and remeasurements	(16)	(3)
Depreciation charge for the year	(73)	(77)
Impairment charge for the year		(1)
Reclassification as held for sale	(18)
Net book value at end of period	$ 205	262
Plant and machinery | Adjustment on adoption of IFRS 16
Disclosure of quantitative information about right-of-use assets [line items]
Net book value at beginning of period		280
Plant and machinery | After adjustment
Disclosure of quantitative information about right-of-use assets [line items]
Net book value at beginning of period		$ 280

Right of use assets and lease_3

Right of use assets and leases - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Disclosure of quantitative information about right-of-use assets [line items]
Depreciation of right of use assets	$ 241	$ 233	$ 0
Impairment of right of use assets	0	8	$ 0
Future undiscounted lease payments	0	0
Discontinued operations
Disclosure of quantitative information about right-of-use assets [line items]
Depreciation of right of use assets	$ 13	35
Impairment of right of use assets		$ 2
Land and buildings
Disclosure of quantitative information about right-of-use assets [line items]
Weighted average remaining lease term	5 years 3 months 18 days	5 years 10 months 24 days
Plant and machinery
Disclosure of quantitative information about right-of-use assets [line items]
Weighted average remaining lease term	4 years 3 months 18 days	4 years 6 months

Right of use assets and lease_4

Right of use assets and leases - Maturity of lease liabilities (Details) - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2018
Disclosure of maturity analysis of finance lease payments receivable [line items]
Undiscounted finance lease payments	$ 1,203	$ 1,508
Effect of discounting	(113)	(153)
Lease liabilities	1,090	1,355	$ 0	$ 0
Current lease liabilities	263	281
Non-current lease liabilities	827	1,074
Due in less than one year
Disclosure of maturity analysis of finance lease payments receivable [line items]
Undiscounted finance lease payments	298	325
Due in one to two years
Disclosure of maturity analysis of finance lease payments receivable [line items]
Undiscounted finance lease payments	283	326
Due in two to three years
Disclosure of maturity analysis of finance lease payments receivable [line items]
Undiscounted finance lease payments	219	282
Due in three to four years
Disclosure of maturity analysis of finance lease payments receivable [line items]
Undiscounted finance lease payments	156	211
Due in four to five years
Disclosure of maturity analysis of finance lease payments receivable [line items]
Undiscounted finance lease payments	99	146
Due in over five years
Disclosure of maturity analysis of finance lease payments receivable [line items]
Undiscounted finance lease payments	$ 148	$ 218

Right of use assets and lease_5

Right of use assets and leases - Amounts charged (credited) to the Group income statement (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Presentation of leases for lessee [abstract]
Depreciation of right of use assets	$ 241	$ 233	$ 0
Impairment of right of use assets	0	8	$ 0
Short term lease expense	1	10
Low-value lease expense	15	16
Sublease income	(2)	(1)
Charged to operating costs	255	266
Charged to finance costs	44	49
Total amount charged to the Group income statement	$ 299	$ 315

Property, plant and equipment_2

Property, plant and equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Property, plant and equipment
Property, plant and equipment at beginning of period	$ 1,389
Finance leases	895	$ 1,111	$ 0
Additions	174	214
Depreciation charge for the year	130	135	126
Impairment charge for the year	0	4	0
Property, plant and equipment at end of period	1,305	1,389
Adjustment on adoption of IFRS 16
Property, plant and equipment
Finance leases			1,220
After adjustment
Property, plant and equipment
Finance leases			1,220
Cost
Property, plant and equipment
Property, plant and equipment at beginning of period	2,708
Finance leases			1
Total property, plant and equipment and finance leases at beginning of period			2,581
Exchange rate adjustment	12	22
Acquisitions	11	19
Additions	174	214
Disposals and transfers	(76)	(81)
Reclassification as held for sale	(303)	(31)
Property, plant and equipment at end of period	2,526	2,708
Cost | Adjustment on adoption of IFRS 16
Property, plant and equipment
Finance leases			(1)
Total property, plant and equipment and finance leases at beginning of period			(16)
Cost | After adjustment
Property, plant and equipment
Finance leases			0
Total property, plant and equipment and finance leases at beginning of period			2,565
Accumulated depreciation and impairment losses
Property, plant and equipment
Property, plant and equipment at beginning of period	(1,319)
Finance leases			0
Total property, plant and equipment and finance leases at beginning of period			(1,232)
Exchange rate adjustment	(6)	(13)
Disposals and transfers	(59)
Depreciation charge for the year	136	154
Impairment charge for the year		5
Disposals		(68)
Reclassification as held for sale	181	7
Property, plant and equipment at end of period	(1,221)	(1,319)
Accumulated depreciation and impairment losses | Adjustment on adoption of IFRS 16
Property, plant and equipment
Finance leases			0
Total property, plant and equipment and finance leases at beginning of period			10
Accumulated depreciation and impairment losses | After adjustment
Property, plant and equipment
Finance leases			0
Total property, plant and equipment and finance leases at beginning of period			(1,222)
Freehold
Property, plant and equipment
Property, plant and equipment at beginning of period	994
Property, plant and equipment at end of period	992	994
Freehold | Cost
Property, plant and equipment
Property, plant and equipment at beginning of period	1,303	1,184
Exchange rate adjustment	3	5
Acquisitions	8	15
Additions	79	127
Disposals and transfers	(4)	2
Reclassification as held for sale	(70)	(30)
Property, plant and equipment at end of period	1,319	1,303	1,184
Freehold | Cost | Adjustment on adoption of IFRS 16
Property, plant and equipment
Property, plant and equipment at beginning of period		0
Property, plant and equipment at end of period			0
Freehold | Cost | After adjustment
Property, plant and equipment
Property, plant and equipment at beginning of period		1,184
Property, plant and equipment at end of period			1,184
Freehold | Accumulated depreciation and impairment losses
Property, plant and equipment
Property, plant and equipment at beginning of period	(309)	(278)
Exchange rate adjustment	(1)	(1)
Disposals and transfers	(1)
Depreciation charge for the year	36	36
Impairment charge for the year		1
Disposals		0
Reclassification as held for sale	18	7
Property, plant and equipment at end of period	(327)	(309)	(278)
Freehold | Accumulated depreciation and impairment losses | Adjustment on adoption of IFRS 16
Property, plant and equipment
Property, plant and equipment at beginning of period		0
Property, plant and equipment at end of period			0
Freehold | Accumulated depreciation and impairment losses | After adjustment
Property, plant and equipment
Property, plant and equipment at beginning of period		(278)
Property, plant and equipment at end of period			(278)
Leasehold improvements
Property, plant and equipment
Property, plant and equipment at beginning of period	133
Property, plant and equipment at end of period	93	133
Leasehold improvements | Cost
Property, plant and equipment
Property, plant and equipment at beginning of period	497	498
Exchange rate adjustment	3	5
Acquisitions	1	0
Additions	23	11
Disposals and transfers	(27)	(17)
Reclassification as held for sale	(74)	0
Property, plant and equipment at end of period	423	497	498
Leasehold improvements | Cost | Adjustment on adoption of IFRS 16
Property, plant and equipment
Property, plant and equipment at beginning of period		0
Property, plant and equipment at end of period			0
Leasehold improvements | Cost | After adjustment
Property, plant and equipment
Property, plant and equipment at beginning of period		498
Property, plant and equipment at end of period			498
Leasehold improvements | Accumulated depreciation and impairment losses
Property, plant and equipment
Property, plant and equipment at beginning of period	(364)	(338)
Exchange rate adjustment	(2)	(3)
Disposals and transfers	(21)
Depreciation charge for the year	30	34
Impairment charge for the year		2
Disposals		(13)
Reclassification as held for sale	45	0
Property, plant and equipment at end of period	(330)	(364)	(338)
Leasehold improvements | Accumulated depreciation and impairment losses | Adjustment on adoption of IFRS 16
Property, plant and equipment
Property, plant and equipment at beginning of period		0
Property, plant and equipment at end of period			0
Leasehold improvements | Accumulated depreciation and impairment losses | After adjustment
Property, plant and equipment
Property, plant and equipment at beginning of period		(338)
Property, plant and equipment at end of period			(338)
Plant and machinery
Property, plant and equipment
Property, plant and equipment at beginning of period	210
Property, plant and equipment at end of period	194	210
Plant and machinery | Cost
Property, plant and equipment
Property, plant and equipment at beginning of period	718	679
Exchange rate adjustment	4	8
Acquisitions	1	4
Additions	63	70
Disposals and transfers	(26)	(40)
Reclassification as held for sale	(119)	(1)
Property, plant and equipment at end of period	641	718	679
Plant and machinery | Cost | Adjustment on adoption of IFRS 16
Property, plant and equipment
Property, plant and equipment at beginning of period		(2)
Property, plant and equipment at end of period			(2)
Plant and machinery | Cost | After adjustment
Property, plant and equipment
Property, plant and equipment at beginning of period		677
Property, plant and equipment at end of period			677
Plant and machinery | Accumulated depreciation and impairment losses
Property, plant and equipment
Property, plant and equipment at beginning of period	(508)	(475)
Exchange rate adjustment	(2)	(6)
Disposals and transfers	(31)
Depreciation charge for the year	56	62
Impairment charge for the year		2
Disposals		(36)
Reclassification as held for sale	88	0
Property, plant and equipment at end of period	(447)	(508)	(475)
Plant and machinery | Accumulated depreciation and impairment losses | Adjustment on adoption of IFRS 16
Property, plant and equipment
Property, plant and equipment at beginning of period		1
Property, plant and equipment at end of period			1
Plant and machinery | Accumulated depreciation and impairment losses | After adjustment
Property, plant and equipment
Property, plant and equipment at beginning of period		(474)
Property, plant and equipment at end of period			(474)
Other equipment
Property, plant and equipment
Property, plant and equipment at beginning of period	52
Property, plant and equipment at end of period	26	52
Other equipment | Cost
Property, plant and equipment
Property, plant and equipment at beginning of period	190	219
Exchange rate adjustment	2	4
Acquisitions	1	0
Additions	9	6
Disposals and transfers	(19)	(26)
Reclassification as held for sale	(40)	0
Property, plant and equipment at end of period	143	190	219
Other equipment | Cost | Adjustment on adoption of IFRS 16
Property, plant and equipment
Property, plant and equipment at beginning of period		(13)
Property, plant and equipment at end of period			(13)
Other equipment | Cost | After adjustment
Property, plant and equipment
Property, plant and equipment at beginning of period		206
Property, plant and equipment at end of period			206
Other equipment | Accumulated depreciation and impairment losses
Property, plant and equipment
Property, plant and equipment at beginning of period	(138)	(141)
Exchange rate adjustment	(1)	(3)
Disposals and transfers	(6)
Depreciation charge for the year	14	22
Impairment charge for the year		0
Disposals		(19)
Reclassification as held for sale	30	0
Property, plant and equipment at end of period	$ (117)	(138)	(141)
Other equipment | Accumulated depreciation and impairment losses | Adjustment on adoption of IFRS 16
Property, plant and equipment
Property, plant and equipment at beginning of period		9
Property, plant and equipment at end of period			9
Other equipment | Accumulated depreciation and impairment losses | After adjustment
Property, plant and equipment
Property, plant and equipment at beginning of period		$ (132)
Property, plant and equipment at end of period			$ (132)

Property, plant and equipment -

Property, plant and equipment - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation charge for the year	$ 130	$ 135	$ 126
Impairment charge for the year	0	4	$ 0
Discontinued operations
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation charge for the year	$ 6	19
Impairment charge for the year		$ 1

Deferred tax assets and liabi_3

Deferred tax assets and liabilities - Summary of deferred tax assets and liabilities (Details) - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Income Taxes [Abstract]
Deferred tax assets	$ 303	$ 216
Deferred tax liabilities	0	(26)
Deferred tax assets, net	$ 303	$ 190	$ 108

Deferred tax assets and liabi_4

Deferred tax assets and liabilities - Deferred tax asset and liability Movement (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period	$ (190)	$ (108)
Credit/(charge) to income	161	(29)
Credit to other comprehensive income	(19)	44	$ 6
Credit to equity	4	5	1
Acquisitions	(10)	(11)
Transfers to held for sale	(29)
Transfers between categories	0
Exchange rate adjustment	6	4
Deferred tax liability (asset) at end of period	(303)	(190)	(108)
Goodwill and intangible assets
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period	83	74
Credit/(charge) to income	3	3
Credit to other comprehensive income	0	0
Credit to equity	0	0
Acquisitions	(16)	(12)
Transfers to held for sale	6
Transfers between categories	0
Exchange rate adjustment	0	0
Deferred tax liability (asset) at end of period	90	83	74
Share-based payments
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period	(28)	(25)
Credit/(charge) to income	4	(2)
Credit to other comprehensive income	0	0
Credit to equity	4	5
Acquisitions	0	0
Transfers to held for sale	(1)
Transfers between categories	0
Exchange rate adjustment	0	0
Deferred tax liability (asset) at end of period	(35)	(28)	(25)
Property, plant and equipment
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period	(22)	(31)
Credit/(charge) to income	(5)	(14)
Credit to other comprehensive income	0	0
Credit to equity	0	0
Acquisitions	0	1
Transfers to held for sale	(17)
Transfers between categories	0
Exchange rate adjustment	5	4
Deferred tax liability (asset) at end of period	(5)	(22)	(31)
Right of use assets
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period	275	0
Credit/(charge) to income	26	27
Credit to other comprehensive income	0	0
Credit to equity	0	0
Acquisitions	0	(4)
Transfers to held for sale	24
Transfers between categories	0
Exchange rate adjustment	0	0
Deferred tax liability (asset) at end of period	225	275	0
Lease liabilities
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period	(342)	0
Credit/(charge) to income	(42)	(34)
Credit to other comprehensive income	0	0
Credit to equity	0	0
Acquisitions	0	4
Transfers to held for sale	(25)
Transfers between categories	0
Exchange rate adjustment	0	0
Deferred tax liability (asset) at end of period	(275)	(342)	0
Retirement benefit obligations
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period	(84)	(40)
Credit/(charge) to income	(4)	1
Credit to other comprehensive income	(19)	44
Credit to equity	0	0
Acquisitions	0	0
Transfers to held for sale	0
Transfers between categories	0
Exchange rate adjustment	1	(1)
Deferred tax liability (asset) at end of period	(62)	(84)	(40)
Inventory
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period	109	114
Credit/(charge) to income	(19)	5
Credit to other comprehensive income	0	0
Credit to equity	0	0
Acquisitions	1	0
Transfers to held for sale	0
Transfers between categories	195
Exchange rate adjustment	0	0
Deferred tax liability (asset) at end of period	(68)	109	114
Tax Method Changes
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period	0	0
Credit/(charge) to income	98	0
Credit to other comprehensive income	0	0
Credit to equity	0	0
Acquisitions	0	0
Transfers to held for sale	0
Transfers between categories	(195)
Exchange rate adjustment	0	0
Deferred tax liability (asset) at end of period	97	0	0
Tax losses
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period	(100)	(88)
Credit/(charge) to income	20	11
Credit to other comprehensive income	0	0
Credit to equity	0	0
Acquisitions	5	0
Transfers to held for sale	(17)
Transfers between categories	0
Exchange rate adjustment	0	1
Deferred tax liability (asset) at end of period	(108)	(100)	(88)
Trade and other payables
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period	(22)	(40)
Credit/(charge) to income	60	(13)
Credit to other comprehensive income	0	0
Credit to equity	0	0
Acquisitions	0	0
Transfers to held for sale	0
Transfers between categories	0
Exchange rate adjustment	0	0
Deferred tax liability (asset) at end of period	(82)	(22)	(40)
Other
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period	(59)	(72)
Credit/(charge) to income	20	(13)
Credit to other comprehensive income	0	0
Credit to equity	0	0
Acquisitions	0	0
Transfers to held for sale	1
Transfers between categories	0
Exchange rate adjustment	0	0
Deferred tax liability (asset) at end of period	$ (80)	(59)	(72)
Adjustment on adoption of IFRS 16
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period		(69)
Deferred tax liability (asset) at end of period			(69)
Adjustment on adoption of IFRS 16 | Goodwill and intangible assets
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period		0
Deferred tax liability (asset) at end of period			0
Adjustment on adoption of IFRS 16 | Share-based payments
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period		0
Deferred tax liability (asset) at end of period			0
Adjustment on adoption of IFRS 16 | Property, plant and equipment
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period		0
Deferred tax liability (asset) at end of period			0
Adjustment on adoption of IFRS 16 | Right of use assets
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period		298
Deferred tax liability (asset) at end of period			298
Adjustment on adoption of IFRS 16 | Lease liabilities
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period		(372)
Deferred tax liability (asset) at end of period			(372)
Adjustment on adoption of IFRS 16 | Retirement benefit obligations
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period		0
Deferred tax liability (asset) at end of period			0
Adjustment on adoption of IFRS 16 | Inventory
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period		0
Deferred tax liability (asset) at end of period			0
Adjustment on adoption of IFRS 16 | Tax Method Changes
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period		0
Deferred tax liability (asset) at end of period			0
Adjustment on adoption of IFRS 16 | Tax losses
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period		0
Deferred tax liability (asset) at end of period			0
Adjustment on adoption of IFRS 16 | Trade and other payables
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period		5
Deferred tax liability (asset) at end of period			5
Adjustment on adoption of IFRS 16 | Other
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period		0
Deferred tax liability (asset) at end of period			0
After adjustment
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period		(177)
Deferred tax liability (asset) at end of period			(177)
After adjustment | Goodwill and intangible assets
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period		74
Deferred tax liability (asset) at end of period			74
After adjustment | Share-based payments
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period		(25)
Deferred tax liability (asset) at end of period			(25)
After adjustment | Property, plant and equipment
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period		(31)
Deferred tax liability (asset) at end of period			(31)
After adjustment | Right of use assets
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period		298
Deferred tax liability (asset) at end of period			298
After adjustment | Lease liabilities
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period		(372)
Deferred tax liability (asset) at end of period			(372)
After adjustment | Retirement benefit obligations
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period		(40)
Deferred tax liability (asset) at end of period			(40)
After adjustment | Inventory
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period		114
Deferred tax liability (asset) at end of period			114
After adjustment | Tax Method Changes
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period		0
Deferred tax liability (asset) at end of period			0
After adjustment | Tax losses
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period		(88)
Deferred tax liability (asset) at end of period			(88)
After adjustment | Trade and other payables
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period		(35)
Deferred tax liability (asset) at end of period			(35)
After adjustment | Other
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period		$ (72)
Deferred tax liability (asset) at end of period			$ (72)

Deferred tax assets and liabi_5

Deferred tax assets and liabilities - Narrative (Details) - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020
Income Taxes [Abstract]
Unused tax losses for which no deferred tax asset recognised	$ 404	$ 369
Temporary differences associated with investments in subsidiaries, branches and associates and interests in joint arrangements for which deferred tax liabilities have not been recognised	$ 551	$ 442

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020
Inventory Disclosure [Abstract]
Goods purchased for resale	$ 3,607	$ 3,089
Inventory provisions	(181)	(209)
Inventories	$ 3,426	$ 2,880

Trade and other receivables (De

Trade and other receivables (Details) - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020
Current
Net trade receivables	$ 2,786	$ 2,568
Other receivables	146	139
Prepayments	399	335
Trade and other receivables	3,331	3,042
Non-current
Trade and other receivables	428	377
Trade receivables
Current
Net trade receivables	2,803	2,604
Provision for expected credit losses
Current
Net trade receivables	$ (17)	$ (36)

Trade and other receivables - N

Trade and other receivables - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Disclosure of financial assets [line items]
Current supplier rebates due	$ 344	$ 289
Trade receivables
Disclosure of financial assets [line items]
Trade receivables written off	$ 9	$ 12

Trade and other receivables - L

Trade and other receivables - Loss allowance for trade receivables by aging category (Details) - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020
Disclosure of financial assets that are either past due or impaired [line items]
Net trade receivables	$ 2,786	$ 2,568
Trade receivables
Disclosure of financial assets that are either past due or impaired [line items]
Expected credit loss rate	100.00%
Trade receivables
Disclosure of financial assets that are either past due or impaired [line items]
Net trade receivables	$ 2,803	2,604
Provision for expected credit losses
Disclosure of financial assets that are either past due or impaired [line items]
Net trade receivables	(17)	(36)
Amounts not yet due
Disclosure of financial assets that are either past due or impaired [line items]
Net trade receivables	$ 1,814	$ 1,825
Amounts not yet due | Trade receivables
Disclosure of financial assets that are either past due or impaired [line items]
Expected credit loss rate	0.30%	0.60%
Amounts not yet due | Trade receivables
Disclosure of financial assets that are either past due or impaired [line items]
Net trade receivables	$ 1,820	$ 1,836
Amounts not yet due | Provision for expected credit losses
Disclosure of financial assets that are either past due or impaired [line items]
Net trade receivables	(6)	(11)
Less than six months past due
Disclosure of financial assets that are either past due or impaired [line items]
Net trade receivables	$ 972	$ 743
Less than six months past due | Trade receivables
Disclosure of financial assets that are either past due or impaired [line items]
Expected credit loss rate	0.50%	1.10%
Less than six months past due | Trade receivables
Disclosure of financial assets that are either past due or impaired [line items]
Net trade receivables	$ 977	$ 751
Less than six months past due | Provision for expected credit losses
Disclosure of financial assets that are either past due or impaired [line items]
Net trade receivables	(5)	(8)
More than six months past due
Disclosure of financial assets that are either past due or impaired [line items]
Net trade receivables	$ 0	$ 0
More than six months past due | Trade receivables
Disclosure of financial assets that are either past due or impaired [line items]
Expected credit loss rate	100.00%	100.00%
More than six months past due | Trade receivables
Disclosure of financial assets that are either past due or impaired [line items]
Net trade receivables	$ 6	$ 17
More than six months past due | Provision for expected credit losses
Disclosure of financial assets that are either past due or impaired [line items]
Net trade receivables	$ (6)	$ (17)

Cash flow statement (Details)

Cash flow statement (Details) - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2018
Cash and cash equivalents [abstract]
Cash and cash equivalents	$ 1,335	$ 2,115	$ 1,133	$ 833
Cash and cash equivalents, cash pooling arrangement	36	248
Cash and cash equivalents used as collateral	$ 95	$ 93

Trade and other payables - Sche

Trade and other payables - Schedule of Current and Non-current Payables (Details) - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020
Current
Trade payables	$ 3,234	$ 2,855
Tax and social security	92	114
Other payables	104	115
Accruals and deferred income	592	507
Trade and other payables	4,022	3,591
Non-current
Other payables	$ 342	$ 338

Trade and other payables (Detai

Trade and other payables (Details) - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020
Trade and other payables [abstract]
Receivables due from suppliers with respect to supplier rebates where an agreement exists that allow these to be net settled	$ 55	$ 50

Borrowings - Schedule of curren

Borrowings - Schedule of current and non current borrowings (Details) - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2018
Disclosure of detailed information about borrowings [line items]
Current	$ 183	$ 531
Borrowings	2,528	2,635
Total	2,711	3,166
Bank overdrafts
Disclosure of detailed information about borrowings [line items]
Current	183	248
Borrowings	0	0
Total	183	248
Senior unsecured loan notes
Disclosure of detailed information about borrowings [line items]
Current	0	283
Borrowings	2,528	2,635
Total	$ 2,528	$ 2,918	$ 2,297	$ 1,530

Borrowings - Narrative (Details

Borrowings - Narrative (Details) - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020
Disclosure of detailed information about borrowings [line items]
Bonds issued	$ 1,350	$ 1,350
Total	2,711	3,166
Bank overdrafts, cash pooling arrangements	36	248
Undrawn borrowing facilities	2,200	2,200
Fair Value Hedges, Debt
Disclosure of detailed information about borrowings [line items]
Hedged item, liabilities	355	355
Private Placement Notes
Disclosure of detailed information about borrowings [line items]
Total	1,178	1,568
Notional amount	1,155	1,530
Borrowings, fair value adjustment	23	38
Private Placement Notes | Fair Value Hedges, Debt
Disclosure of detailed information about borrowings [line items]
Hedged item, liabilities	355
Trade Receivables Facility
Disclosure of detailed information about borrowings [line items]
Undrawn borrowing facilities	$ 600	$ 600

Borrowings - Schedule of non cu

Borrowings - Schedule of non current loans repayable (Details) - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020
Disclosure of detailed information about borrowings [line items]
Total	$ 2,528	$ 2,635
Due in one to two years
Disclosure of detailed information about borrowings [line items]
Total	250	0
Due in two to three years
Disclosure of detailed information about borrowings [line items]
Total	55	250
Due in three to four years
Disclosure of detailed information about borrowings [line items]
Total	150	150
Due in four to five years
Disclosure of detailed information about borrowings [line items]
Total	400	150
Due in over five years
Disclosure of detailed information about borrowings [line items]
Total	$ 1,673	$ 2,085

Financial instruments - Summary

Financial instruments - Summary of the carrying value of financial instruments (Details) - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020
Financial liabilities at fair value through profit and loss
Disclosure of financial liabilities [line items]
Financial liabilities	$ 328	$ 265
Financial liabilities at amortized cost
Disclosure of financial liabilities [line items]
Financial liabilities	7,026	7,474
Financial assets at fair value through profit and loss
Disclosure of financial assets [line items]
Financial assets	353	307
Financial assets at fair value through other comprehensive income
Disclosure of financial assets [line items]
Financial assets	18	12
Financial assets at amortized cost
Disclosure of financial assets [line items]
Financial assets	$ 3,372	$ 3,114

Financial instruments - Narrati

Financial instruments - Narrative (Details) $ in Millions	12 Months Ended
	Jul. 31, 2021USD ($)	Jul. 31, 2020USD ($)	Jul. 31, 2019USD ($)	Jul. 31, 2018USD ($)
Disclosure of detailed information about financial instruments [line items]
Current derivative financial assets	$ 5	$ 11
Non-current derivative financial assets	16	28
Undrawn borrowing facilities	2,200	2,200
Drawn borrowing facilities	2,711	3,166
Fair Value Hedges, Debt
Disclosure of detailed information about financial instruments [line items]
Hedged item, liabilities	355	355
Fixed
Disclosure of detailed information about financial instruments [line items]
Drawn borrowing facilities	$ 2,505	$ 2,786
Weighted average
Disclosure of detailed information about financial instruments [line items]
Borrowings, interest rate	4.50%
Weighted average | Fixed
Disclosure of detailed information about financial instruments [line items]
Borrowings, interest rate	3.80%	3.70%
Borrowings maturity, term	6 years 7 months 6 days	7 years
Weighted average | Floating
Disclosure of detailed information about financial instruments [line items]
Drawn borrowing facilities	$ 0
Borrowings, interest rate		1.70%
Hedges of net investment in foreign operations
Disclosure of detailed information about financial instruments [line items]
Foreign exchange gain (loss)	(31)	$ (31)	$ 36
Hedging instrument, liabilities	187	368	327
Senior unsecured loan notes
Disclosure of detailed information about financial instruments [line items]
Undrawn borrowing facilities	2,200	2,200
Available borrowing facilities	4,728	5,118
Drawn borrowing facilities	2,528	2,918	$ 2,297	$ 1,530
Private Placement Notes
Disclosure of detailed information about financial instruments [line items]
Drawn borrowing facilities	1,178	1,568
Notional amount	1,155	1,530
Private Placement Notes | Fair Value Hedges, Debt
Disclosure of detailed information about financial instruments [line items]
Hedged item, liabilities	355
Interest rate swaps | Fixed
Disclosure of detailed information about financial instruments [line items]
Notional amount	$ 355
Interest rate swaps | Fixed | Minimum
Disclosure of detailed information about financial instruments [line items]
Borrowings, interest rate	3.30%
Interest rate swaps | Fixed | Maximum
Disclosure of detailed information about financial instruments [line items]
Borrowings, interest rate	3.50%
Credit risk | Trade receivables
Disclosure of detailed information about financial instruments [line items]
Maximum exposure to credit risk	$ 2,786	2,568
Liquidity risk | Revolving Credit Facility
Disclosure of detailed information about financial instruments [line items]
Undrawn borrowing facilities	1,100	1,100
Liquidity risk | Bi-Lateral Facility
Disclosure of detailed information about financial instruments [line items]
Undrawn borrowing facilities	500	500
Liquidity risk | Securitized Facility
Disclosure of detailed information about financial instruments [line items]
Undrawn borrowing facilities	600	600
Currency risk
Disclosure of detailed information about financial instruments [line items]
Foreign exchange gain (loss), recognized in revenue	60	(25)
Foreign exchange gain (loss)	0	0
Sensitivity analysis for types of market risk, reasonably possible change in risk variable, impact on earnings	$ (7)	$ (52)
Currency risk | U.S. dollars
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic, percent	94.00%	95.00%	93.00%
Sensitivity analysis for types of market risk, reasonably possible change in risk variable, percent	10.00%
Interest rate risk | Floating
Disclosure of detailed information about financial instruments [line items]
Sensitivity analysis for types of market risk, reasonably possible change in risk variable, percent	1.00%
Sensitivity analysis for types of market risk, reasonably possible change in risk variable, impact on earnings	$ 8	$ 14
Financial Institutions | Credit risk
Disclosure of detailed information about financial instruments [line items]
Maximum exposure to credit risk	1,163	1,873
USA bond debt | Fixed
Disclosure of detailed information about financial instruments [line items]
Drawn borrowing facilities	1,350	1,350
US Private Placement debt | Fixed
Disclosure of detailed information about financial instruments [line items]
Drawn borrowing facilities	$ 1,155	$ 1,436
US Private Placement debt | Credit risk
Disclosure of detailed information about financial instruments [line items]
Ratio of net debt to adjusted EBITDA	3.5
Borrowings | Interest rate risk | Senior unsecured loan notes | Fixed
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic, percent	85.00%	83.00%
Level 2 inputs | Senior unsecured loan notes
Disclosure of detailed information about financial instruments [line items]
Financial liabilities at fair value	$ 1,273	$ 1,671
Level 1 inputs | USA bond debt
Disclosure of detailed information about financial instruments [line items]
Financial liabilities at fair value	1,538	1,488
Financial assets at fair value through profit and loss
Disclosure of detailed information about financial instruments [line items]
Derivative financial assets	21	39	$ 22	$ (2)
Financial assets	353	307
Financial assets at fair value through profit and loss | Interest rate swaps | Level 2 inputs
Disclosure of detailed information about financial instruments [line items]
Current derivative financial assets	5	11
Non-current derivative financial assets	16	28
Derivative financial assets	21	39
Financial assets at fair value through profit and loss | Executive Deferred Compensation Plan | Level 1 inputs
Disclosure of detailed information about financial instruments [line items]
Non-current financial assets	332	268
Financial liabilities at fair value through profit and loss | Executive Deferred Compensation Plan | Level 2 inputs
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	328	265
Current financial liabilities	31	13
Non-current financial liabilities	297	252
Financial assets at amortized cost
Disclosure of detailed information about financial instruments [line items]
Financial assets	3,372	3,114
Financial assets at amortized cost | Senior unsecured loan notes
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	1,178	1,568
Financial assets at amortized cost | USA bond debt
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	1,350	1,350
Financial assets at amortized cost | Other Receivables
Disclosure of detailed information about financial instruments [line items]
Financial assets	$ 64	$ 71
Financial assets at amortized cost | Other Receivables | Discount rate, measurement input
Disclosure of detailed information about financial instruments [line items]
Significant unobservable input, assets	0.018	0.01

Financial instruments and fin_2

Financial instruments and financial risk management - Disclosure of Offsetting Arrangements (Details) - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020
Financial assets
Gross balances	$ 1,356	$ 2,162
Offset amounts	0	(8)
Financial statements	1,356	2,154
Cash pooling amounts	(36)	(248)
Net total	1,320	1,906
Financial liabilities
Gross balances	2,711	3,174
Offset amounts	0	(8)
Financial statements	2,711	3,166
Cash pooling amounts	(36)	(248)
Net total	2,675	2,918
Total excluding lease liabilities
Gross balances	(1,355)	(1,012)
Offset amounts	0	0
Financial statements	(1,355)	(1,012)
Cash pooling amounts	0	0
Net total	(1,355)	(1,012)
Current Derivative financial liabilities
Financial liabilities
Gross balances		8
Offset amounts		(8)
Financial statements		0
Cash pooling amounts		0
Net total		0
Current Borrowings
Financial liabilities
Gross balances	183	531
Offset amounts	0	0
Financial statements	183	531
Cash pooling amounts	(36)	(248)
Net total	147	283
Non-current Borrowings
Financial liabilities
Gross balances	2,528	2,635
Offset amounts	0	0
Financial statements	2,528	2,635
Cash pooling amounts	0	0
Net total	2,528	2,635
Non-current assets, Derivative financial assets
Financial assets
Gross balances	16	28
Offset amounts	0	0
Financial statements	16	28
Cash pooling amounts	0	0
Net total	16	28
Current assets, Derivative financial assets
Financial assets
Gross balances	5	19
Offset amounts	0	(8)
Financial statements	5	11
Cash pooling amounts	0	0
Net total	5	11
Cash and cash equivalents
Financial assets
Gross balances	1,335	2,115
Offset amounts	0	0
Financial statements	1,335	2,115
Cash pooling amounts	(36)	(248)
Net total	$ 1,299	$ 1,867

Financial instruments and fin_3

Financial instruments and financial risk management - Summary of Liquidity Risk (Details) - Liquidity risk - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items]
Trade and other payables	$ 3,525	$ 3,183
Debt including lease liabilities	3,595	4,235
Interest on debt including lease liabilities	728	876
Total	7,848	8,294
Due in less than one year
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items]
Trade and other payables	3,188	2,889
Debt including lease liabilities	263	561
Interest on debt including lease liabilities	130	148
Total	3,581	3,598
Due in one to two years
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items]
Trade and other payables	31	34
Debt including lease liabilities	507	291
Interest on debt including lease liabilities	116	131
Total	654	456
Due in two to three years
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items]
Trade and other payables	25	20
Debt including lease liabilities	257	507
Interest on debt including lease liabilities	103	117
Total	385	644
Due in three to four years
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items]
Trade and other payables	18	15
Debt including lease liabilities	295	345
Interest on debt including lease liabilities	93	103
Total	406	463
Due in four to five years
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items]
Trade and other payables	19	14
Debt including lease liabilities	491	286
Interest on debt including lease liabilities	79	92
Total	589	392
Due in over five years
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items]
Trade and other payables	244	211
Debt including lease liabilities	1,782	2,245
Interest on debt including lease liabilities	207	285
Total	$ 2,233	$ 2,741

Financial instruments and fin_4

Financial instruments and financial risk management - Maturity Profile of Undrawn Facilities (Details) - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Undrawn borrowing facilities	$ 2,200	$ 2,200
Less than one year
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Undrawn borrowing facilities	500	500
Between one and two years
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Undrawn borrowing facilities	0	600
Between two and three years
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Undrawn borrowing facilities	600	0
Between three and four years
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Undrawn borrowing facilities	0	0
Between four and five years
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Undrawn borrowing facilities	1,100	1,100
After five years
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Undrawn borrowing facilities	$ 0	$ 0

Financial instruments and fin_5

Financial instruments and financial risk management - Foreign Currency Risk, Derivative Financial Assets/(Liabilities) (Details) - Currency risk - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	$ (1,355)	$ (1,012)
Derivatives
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	21	39
Cash and borrowings
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(1,376)	(1,051)
U.S. dollars
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(1,617)	(1,147)
U.S. dollars | Derivatives
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	23	39
U.S. dollars | Cash and borrowings
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(1,640)	(1,186)
Pounds sterling
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	89	(38)
Pounds sterling | Derivatives
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(1)	0
Pounds sterling | Cash and borrowings
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	90	(38)
Other currencies
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	173	173
Other currencies | Derivatives
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(1)	0
Other currencies | Cash and borrowings
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	$ 174	$ 173

Financial instruments and fin_6

Financial instruments and financial risk management - Interest Rate Risk (Details) - Interest rate risk - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	$ (1,355)	$ (1,012)
Floating
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	795	1,419
Fixed
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(2,150)	(2,431)
U.S. dollars
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(1,617)	(1,147)
U.S. dollars | Floating
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	533	1,284
U.S. dollars | Fixed
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(2,150)	(2,431)
Pounds sterling
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	89	(38)
Pounds sterling | Floating
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	89	(38)
Pounds sterling | Fixed
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	0	0
Other currencies
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	173	173
Other currencies | Floating
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	173	173
Other currencies | Fixed
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	$ 0	$ 0

Provisions - Schedule of Change

Provisions - Schedule of Changes in Provisions (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Reconciliation of changes in other provisions [abstract]
Provisions at beginning of period	$ 255	$ 265
Utilized in the year	(35)	(56)
Changes in discount rate	(5)	7
(Credit)/charge for the year	30	30
Acquisition of businesses		2
Reclassified as held for sale	(53)
Exchange rate adjustment	3	8
Provisions at end of period	195	255
Adjustment on adoption of IFRS 16
Reconciliation of changes in other provisions [abstract]
Provisions at beginning of period		(1)
After adjustment
Reconciliation of changes in other provisions [abstract]
Provisions at beginning of period		264
Environmental and legal
Reconciliation of changes in other provisions [abstract]
Provisions at beginning of period	86	82
Utilized in the year	(4)	(4)
Changes in discount rate	(5)	6
(Credit)/charge for the year	15	(1)
Acquisition of businesses		2
Reclassified as held for sale	(8)
Exchange rate adjustment	0	1
Provisions at end of period	84	86
Environmental and legal | Adjustment on adoption of IFRS 16
Reconciliation of changes in other provisions [abstract]
Provisions at beginning of period		0
Environmental and legal | After adjustment
Reconciliation of changes in other provisions [abstract]
Provisions at beginning of period		82
Ferguson Insurance
Reconciliation of changes in other provisions [abstract]
Provisions at beginning of period	76	77
Utilized in the year	(19)	(20)
Changes in discount rate	0	0
(Credit)/charge for the year	13	18
Acquisition of businesses		0
Reclassified as held for sale	0
Exchange rate adjustment	0	1
Provisions at end of period	70	76
Ferguson Insurance | Adjustment on adoption of IFRS 16
Reconciliation of changes in other provisions [abstract]
Provisions at beginning of period		0
Ferguson Insurance | After adjustment
Reconciliation of changes in other provisions [abstract]
Provisions at beginning of period		77
Restructuring
Reconciliation of changes in other provisions [abstract]
Provisions at beginning of period	22	40
Utilized in the year	(8)	(27)
Changes in discount rate	0	0
(Credit)/charge for the year	(1)	22
Acquisition of businesses		0
Reclassified as held for sale	(10)
Exchange rate adjustment	1	1
Provisions at end of period	4	22
Restructuring | Adjustment on adoption of IFRS 16
Reconciliation of changes in other provisions [abstract]
Provisions at beginning of period		(14)
Restructuring | After adjustment
Reconciliation of changes in other provisions [abstract]
Provisions at beginning of period		26
Property provisions
Reconciliation of changes in other provisions [abstract]
Provisions at beginning of period	33	15
Utilized in the year	(1)	(1)
Changes in discount rate	0	1
(Credit)/charge for the year	0	1
Acquisition of businesses		0
Reclassified as held for sale	(33)
Exchange rate adjustment	1	3
Provisions at end of period	0	33
Property provisions | Adjustment on adoption of IFRS 16
Reconciliation of changes in other provisions [abstract]
Provisions at beginning of period		14
Property provisions | After adjustment
Reconciliation of changes in other provisions [abstract]
Provisions at beginning of period		29
Other provisions
Reconciliation of changes in other provisions [abstract]
Provisions at beginning of period	38	51
Utilized in the year	(3)	(4)
Changes in discount rate	0	0
(Credit)/charge for the year	3	(10)
Acquisition of businesses		0
Reclassified as held for sale	(2)
Exchange rate adjustment	1	2
Provisions at end of period	$ 37	38
Other provisions | Adjustment on adoption of IFRS 16
Reconciliation of changes in other provisions [abstract]
Provisions at beginning of period		(1)
Other provisions | After adjustment
Reconciliation of changes in other provisions [abstract]
Provisions at beginning of period		$ 50

Provisions - Current and Non-cu

Provisions - Current and Non-current Provisions (Details) - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Disclosure of other provisions [line items]
Current	$ 72	$ 53
Non-current	123	202
Total provisions	195	255	$ 265
Environmental and legal
Disclosure of other provisions [line items]
Current	20	10
Non-current	64	76
Total provisions	84	86	82
Ferguson Insurance
Disclosure of other provisions [line items]
Current	20	5
Non-current	50	71
Total provisions	70	76	77
Restructuring
Disclosure of other provisions [line items]
Current	2	10
Non-current	2	12
Total provisions	4	22	40
Property provisions
Disclosure of other provisions [line items]
Current	0	8
Non-current	0	25
Total provisions	0	33	15
Other provisions
Disclosure of other provisions [line items]
Current	30	20
Non-current	7	18
Total provisions	$ 37	$ 38	$ 51

Provisions - Narrative (Details

Provisions - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Disclosure of other provisions [line items]
Insurance receivable	$ 64	$ 71
Environmental and legal
Disclosure of other provisions [line items]
Estimated liability	$ 64	$ 72
Discount rate	1.80%	1.00%
Restructuring
Disclosure of other provisions [line items]
Weighted average maturity of obligation, other provisions	2 years
Other provisions
Disclosure of other provisions [line items]
Weighted average maturity of obligation, other provisions	1 year 6 months

Retirement benefit obligation_2

Retirement benefit obligations - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2022	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Disclosure of net defined benefit liability (asset) [line items]
Estimate of contributions expected to be paid to plan for next annual reporting period	$ 2
Cumulative actuarial losses		$ 652	$ 759	$ 524
Weighted average duration of defined benefit obligation		20 years	21 years 1 month 6 days
Special Funding Contributions
Disclosure of net defined benefit liability (asset) [line items]
Employers’ contributions		$ 53	$ 13
UK
Disclosure of net defined benefit liability (asset) [line items]
Buy-in insurance policy, amount contributed to fair value of plan assets, percent		28.00%

Retirement benefit obligation_3

Retirement benefit obligations - Plans as disclosed in the Group balance sheet (Details) - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020
Disclosure of defined benefit plans [abstract]
Non-current asset	$ 108	$ 0
Non-current liability	(12)	(61)
Net asset/(liability)	$ 96	$ (61)

Retirement benefit obligation_4

Retirement benefit obligations - Analysis of Group balance sheet net asset (Details) - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020
Disclosure of net defined benefit liability (asset) [line items]
Fair value of plan assets	$ 2,304	$ 2,122
Present value of defined benefit obligations	(2,208)	(2,183)
Net asset/(liability)	96	(61)
UK
Disclosure of net defined benefit liability (asset) [line items]
Fair value of plan assets	2,175	2,012
Present value of defined benefit obligations	(2,067)	(2,039)
Net asset/(liability)	108	(27)
Non-UK
Disclosure of net defined benefit liability (asset) [line items]
Fair value of plan assets	129	110
Present value of defined benefit obligations	(141)	(144)
Net asset/(liability)	$ (12)	$ (34)

Retirement benefit obligation_5

Retirement benefit obligations - Analysis of total expense recognized in the Group income statement (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Disclosure of defined benefit plans [abstract]
Administrative costs	$ 3	$ 3	$ 2
Settlement losses, past service costs and administrative costs	0	0	9
Charged to operating costs (note 9)	3	3	11
Charged/(credited) to finance costs	2	(3)	(5)
Total staff costs	$ 5	$ 0	$ 6

Retirement benefit obligation_6

Retirement benefit obligations - Analysis of amount recognized in the Group statement of comprehensive income (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Disclosure of defined benefit plans [abstract]
The return on plan assets (excluding amounts included in net interest expense)	$ 34	$ 96	$ 134
Actuarial gain/(loss) arising from changes in demographic assumptions	22	(62)	38
Actuarial gain/(loss) arising from changes in financial assumptions	20	(211)	(210)
Actuarial gain/(loss) arising from experience adjustments	31	(58)	2
Remeasurement of retirement benefit plans	107	(235)	(36)
Tax (charge)/credit	(19)	44	6
Total amount recognized in the Group statement of comprehensive income	$ 88	$ (191)	$ (30)

Retirement benefit obligation_7

Retirement benefit obligations - The fair value of plan assets (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Defined Benefit Plan Change In Benefit Liability (Asset) [Roll Forward]
On August 1	$ 61
Interest income	2	$ (3)	$ (5)
Remeasurement (gain)/loss:
The return on plan assets (excluding amounts included in net interest expense)	34	96	134
At July 31	(96)	61
Actual return on plan assets	68	138
Plan assets [member]
Defined Benefit Plan Change In Benefit Liability (Asset) [Roll Forward]
On August 1	2,122	1,904
Interest income	34	42
Employers’ contributions	56	15
Benefit payments	(77)	(73)
Remeasurement (gain)/loss:
The return on plan assets (excluding amounts included in net interest expense)	34	96
Exchange rate adjustment	135	138
At July 31	2,304	2,122	1,904
UK
Remeasurement (gain)/loss:
Actual return on plan assets	49	133
UK | Plan assets [member]
Defined Benefit Plan Change In Benefit Liability (Asset) [Roll Forward]
On August 1	2,012	1,788
Interest income	31	39
Employers’ contributions	55	15
Benefit payments	(68)	(64)
Remeasurement (gain)/loss:
The return on plan assets (excluding amounts included in net interest expense)	18	94
Exchange rate adjustment	127	140
At July 31	2,175	2,012	1,788
Non-UK
Remeasurement (gain)/loss:
Actual return on plan assets	19	5
Non-UK | Plan assets [member]
Defined Benefit Plan Change In Benefit Liability (Asset) [Roll Forward]
On August 1	110	116
Interest income	3	3
Employers’ contributions	1	0
Benefit payments	(9)	(9)
Remeasurement (gain)/loss:
The return on plan assets (excluding amounts included in net interest expense)	16	2
Exchange rate adjustment	8	(2)
At July 31	$ 129	$ 110	$ 116

Retirement benefit obligation_8

Retirement benefit obligations - Plan assets portfolio (Details) - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020
Disclosure of fair value of plan assets [line items]
Equity type assets quoted	$ 48	$ 230
Cash	20	44
Insurance policies	602	609
Securitized fixed income assets	178	167
Other	27	86
Total fair value of assets	2,304	2,122
Government bonds quoted
Disclosure of fair value of plan assets [line items]
Bonds quoted	532	589
Corporate bonds quoted
Disclosure of fair value of plan assets [line items]
Bonds quoted	897	397
UK
Disclosure of fair value of plan assets [line items]
Equity type assets quoted	0	165
Cash	19	44
Insurance policies	602	609
Securitized fixed income assets	178	167
Other	0	76
Total fair value of assets	2,175	2,012
UK | Government bonds quoted
Disclosure of fair value of plan assets [line items]
Bonds quoted	492	566
UK | Corporate bonds quoted
Disclosure of fair value of plan assets [line items]
Bonds quoted	884	385
Non-UK
Disclosure of fair value of plan assets [line items]
Equity type assets quoted	48	65
Cash	1	0
Insurance policies	0	0
Securitized fixed income assets	0	0
Other	27	10
Total fair value of assets	129	110
Non-UK | Government bonds quoted
Disclosure of fair value of plan assets [line items]
Bonds quoted	40	23
Non-UK | Corporate bonds quoted
Disclosure of fair value of plan assets [line items]
Bonds quoted	$ 13	$ 12

Retirement benefit obligation_9

Retirement benefit obligations - Present value of plan assets (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Defined Benefit Plan Change In Benefit Liability (Asset) [Roll Forward]
On August 1	$ 61
Interest cost	(2)	$ 3	$ 5
Remeasurement (gain)/loss:
Actuarial gain/(loss) arising from changes in demographic assumptions	(22)	62	(38)
Actuarial gain/(loss) arising from changes in financial assumptions	(20)	211	210
Actuarial (gain)/loss arising from experience adjustments	(31)	58	(2)
At July 31	(96)	61
Present value of defined benefit obligation
Defined Benefit Plan Change In Benefit Liability (Asset) [Roll Forward]
On August 1	2,183	1,751
Current service cost	3	3
Interest cost	35	39
Benefit payments	(77)	(73)
Remeasurement (gain)/loss:
Actuarial gain/(loss) arising from changes in demographic assumptions	(22)	62
Actuarial gain/(loss) arising from changes in financial assumptions	(20)	211
Actuarial (gain)/loss arising from experience adjustments	(31)	58
Exchange rate adjustment	137	132
At July 31	2,208	2,183	1,751
UK | Present value of defined benefit obligation
Defined Benefit Plan Change In Benefit Liability (Asset) [Roll Forward]
On August 1	2,039	1,610
Current service cost	3	3
Interest cost	31	35
Benefit payments	(68)	(64)
Remeasurement (gain)/loss:
Actuarial gain/(loss) arising from changes in demographic assumptions	(22)	62
Actuarial gain/(loss) arising from changes in financial assumptions	(11)	202
Actuarial (gain)/loss arising from experience adjustments	(31)	57
Exchange rate adjustment	126	134
At July 31	2,067	2,039	1,610
Non-UK | Present value of defined benefit obligation
Defined Benefit Plan Change In Benefit Liability (Asset) [Roll Forward]
On August 1	144	141
Current service cost	0	0
Interest cost	4	4
Benefit payments	(9)	(9)
Remeasurement (gain)/loss:
Actuarial gain/(loss) arising from changes in demographic assumptions	0	0
Actuarial gain/(loss) arising from changes in financial assumptions	(9)	9
Actuarial (gain)/loss arising from experience adjustments	0	1
Exchange rate adjustment	11	(2)
At July 31	$ 141	$ 144	$ 141

Retirement benefit obligatio_10

Retirement benefit obligations - Analysis of present value of defined benefit obligations (Details) - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020
Disclosure of defined benefit plans [line items]
Total present value of defined benefit obligations	$ 2,208	$ 2,183
Amounts arising from wholly unfunded plans
Disclosure of defined benefit plans [line items]
Total present value of defined benefit obligations	3	3
Amounts arising from plans that are wholly or partly funded
Disclosure of defined benefit plans [line items]
Total present value of defined benefit obligations	$ 2,205	$ 2,180

Retirement benefit obligatio_11

Retirement benefit obligations - Financial assumptions used to estimate defined benefit obligations (Details)	Jul. 31, 2021	Jul. 31, 2020
UK
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Discount rate	1.70%	1.50%
Inflation rate	3.10%	2.90%
Increase to deferred benefits during deferment	2.40%	2.10%
Increases to pensions in payment	3.00%	2.60%
Salary increases	2.40%	2.10%
Non-UK
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Discount rate	2.90%	2.40%
Inflation rate	2.00%	2.00%
Increases to pensions in payment	2.00%	2.00%
Salary increases		2.50%

Retirement benefit obligatio_12

Retirement benefit obligations - Life expectancy assumptions used to estimate defined benefit obligations (Details)	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
UK | Current pensioners (at age 65)—male
Disclosure of defined benefit plans [line items]
Actuarial assumption of life expectancy after retirement	22 years	22 years
UK | Current pensioners (at age 65)—female
Disclosure of defined benefit plans [line items]
Actuarial assumption of life expectancy after retirement	25 years	25 years
UK | Future pensioners (at age 65)—male
Disclosure of defined benefit plans [line items]
Actuarial assumption of life expectancy after retirement	23 years	23 years
UK | Future pensioners (at age 65)—female
Disclosure of defined benefit plans [line items]
Actuarial assumption of life expectancy after retirement	25 years	26 years
Non-UK | Current pensioners (at age 65)—male
Disclosure of defined benefit plans [line items]
Actuarial assumption of life expectancy after retirement	22 years	22 years
Non-UK | Current pensioners (at age 65)—female
Disclosure of defined benefit plans [line items]
Actuarial assumption of life expectancy after retirement	25 years	24 years
Non-UK | Future pensioners (at age 65)—male
Disclosure of defined benefit plans [line items]
Actuarial assumption of life expectancy after retirement	23 years	23 years
Non-UK | Future pensioners (at age 65)—female
Disclosure of defined benefit plans [line items]
Actuarial assumption of life expectancy after retirement	26 years	26 years

Retirement benefit obligatio_13

Retirement benefit obligations - Sensitivity analysis (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Discount rate
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Increase in actuarial assumptions, percent	0.25%	0.25%
Decrease in actuarial assumptions, percent	(0.25%)	(0.25%)
Inflation rate
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Increase in actuarial assumptions, percent	0.25%	0.25%
Decrease in actuarial assumptions, percent	(0.25%)	(0.25%)
Life expectancy
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Actuarial assumption of life expectancy after retirement	1 year	1 year
UK | Discount rate
Disclosure of sensitivity analysis for actuarial assumptions [line items]
(Increase) decrease in defined benefit obligation due to reasonably possible increase in actuarial assumption	$ 85	$ 88
(Increase) decrease in defined benefit obligation due to reasonably possible decrease in actuarial assumption	(89)	(96)
UK | Inflation rate
Disclosure of sensitivity analysis for actuarial assumptions [line items]
(Increase) decrease in defined benefit obligation due to reasonably possible increase in actuarial assumption	(77)	(85)
(Increase) decrease in defined benefit obligation due to reasonably possible decrease in actuarial assumption	78	75
UK | Life expectancy
Disclosure of sensitivity analysis for actuarial assumptions [line items]
(Increase) decrease in defined benefit obligation due to reasonably possible increase in actuarial assumption	(70)	(56)
Non-UK | Discount rate
Disclosure of sensitivity analysis for actuarial assumptions [line items]
(Increase) decrease in defined benefit obligation due to reasonably possible increase in actuarial assumption	4	5
(Increase) decrease in defined benefit obligation due to reasonably possible decrease in actuarial assumption	(5)	(5)
Non-UK | Inflation rate
Disclosure of sensitivity analysis for actuarial assumptions [line items]
(Increase) decrease in defined benefit obligation due to reasonably possible increase in actuarial assumption	0	0
(Increase) decrease in defined benefit obligation due to reasonably possible decrease in actuarial assumption	3	4
Non-UK | Life expectancy
Disclosure of sensitivity analysis for actuarial assumptions [line items]
(Increase) decrease in defined benefit obligation due to reasonably possible increase in actuarial assumption	$ (5)	$ (5)

Share capital - Ordinary shares

Share capital - Ordinary shares in issue (Details) - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020
Disclosure of classes of share capital [line items]
Cost of ordinary 10 pence shares in the Company	$ 30	$ 30
Ordinary shares
Disclosure of classes of share capital [line items]
Number of ordinary 10 pence shares in company (in shares)	232,171,182	232,171,182
Cost of ordinary 10 pence shares in the Company	$ 30	$ 30

Share capital - Narrative (Deta

Share capital - Narrative (Details) shares in Millions, $ in Millions	12 Months Ended
	Jul. 31, 2021USD ($)	Jul. 31, 2020USD ($)	Jul. 31, 2021£ / shares	Jul. 31, 2021USD ($)shares	Jul. 31, 2020£ / shares	Jul. 31, 2020USD ($)shares
Disclosure of classes of share capital [line items]
Number of shares authorized (in shares) | shares				500		500
Par value (pence per share) | £ / shares			£ 0.10		£ 0.10
Own shares
Disclosure of classes of share capital [line items]
Market value of shares held in trusts				$ 117		$ 114
Long term incentive plans and all-employee plans
Disclosure of classes of share capital [line items]
Consideration received in respect of shares transferred to participants	$ 18	$ 11
Discretionary share option plans and long term incentive plans
Disclosure of classes of share capital [line items]
Consideration received in respect of shares transferred to participants	$ 0	$ 0

Share capital - Summary of move

Share capital - Summary of movement of share capital (Details) - shares	Jul. 31, 2021	Jul. 31, 2020
Ordinary shares
Disclosure of classes of share capital [line items]
Number of ordinary 10 pence shares in company (in shares)	232,171,182	232,171,182

Share capital - Summary of mo_2

Share capital - Summary of movement in Treasury shares (Details) - USD ($) $ in Millions	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Disclosure of classes of share capital [line items]
Shares at beginning of period			$ (4,371)	$ (4,350)	$ (4,057)
Treasury shares purchased			400	292	309
Shares after purchase under irrevocable commitment from prior year	$ (4,371)	$ (4,350)	(4,810)	(4,371)	(4,350)
Disposal of Treasury shares to settle share options			(18)	(11)	(3)
Shares at end of period	$ (4,371)	$ (4,350)	$ (4,810)	(4,371)	(4,350)
Treasury shares
Disclosure of classes of share capital [line items]
Shares at beginning of period (in shares)	7,280,222	2,036,945	7,280,222
Shares at beginning of period	$ 570	$ 146	$ 570	$ 305	1,380
Treasury shares purchased (in shares)	0	2,139,221	3,020,368	3,452,349
Treasury shares purchased	$ 0	$ 159	$ 400	$ 292	309
Shares after purchase under irrevocable commitment from prior year	$ 570	305	$ 931	$ 570	305
Disposal of Treasury shares to settle share options (in shares)			(437,774)	(348,293)
Disposal of Treasury shares to settle share options			$ (39)	$ (27)	(15)
Shares at end of period (in shares)	7,280,222		9,862,816	7,280,222
Shares at end of period	$ 570	$ 305	$ 931	$ 570	$ 305

Share capital - Summary of the

Share capital - Summary of the movement in own shares held in Employee Benefit Trusts (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Disclosure of classes of share capital [line items]
Shares at beginning of period	$ (4,371)	$ (4,350)	$ (4,057)
New shares purchased		26	38
Exercise of share options	0	0	0
Shares at end of period	$ (4,810)	$ (4,371)	$ (4,350)
Own shares
Disclosure of classes of share capital [line items]
Shares at beginning of period (in shares)	1,277,347	1,563,778
New shares purchased (in shares)	0	307,345
Issue Of Own Shares By Employee Benefit Trusts, Shares	(444,158)	(593,776)
Shares at end of period (in shares)	833,189	1,277,347	1,563,778
Shares at beginning of period	$ 88	$ 102	$ 90
New shares purchased	0	26	38
Exercise of share options	(30)	(40)	(26)
Shares at end of period	$ 58	$ 88	$ 102

Reconciliation of profit to c_3

Reconciliation of profit to cash generated from operations (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020		Jul. 31, 2019
Disclosure of detailed information about intangible assets [line items]
Profit for the year	$ 1,508	$ 961	[1]	$ 1,108	[1],[2]
Adjustments for finance costs	146	144		70
Share of profit/(loss) after tax of associates	1	(2)	[1]	2	[1],[2]
Gain on disposal of interests in associates and other investments	0	7	[1]	3	[1],[2]
Impairment of interests in associates	0	22	[1]	9	[1],[2]
Tax charge	253	307		267
Loss/(gain) on disposal and closure of businesses and impairment of assets held for sale	(184)	(3)		53
Depreciation and impairment of right of use assets	254	278		0
Depreciation and impairment of property, plant and equipment	136	159		147
Gain on disposal of property, plant and equipment, and assets held for sale	3	3		7
(Increase)/decrease in inventories	(825)	19		(172)
(Increase)/decrease in trade and other receivables	(769)	210		(132)
Increase/(decrease) in trade and other payables	1,023	(9)		227
Decrease in provisions and other liabilities	(57)	(25)		(25)
Share-based payments	71	26		34
Cash generated from operations	2,093	2,252		1,609
Acquired
Disclosure of detailed information about intangible assets [line items]
Amortization of intangible assets other than goodwill	134	130		110
Non-acquired
Disclosure of detailed information about intangible assets [line items]
Amortization of intangible assets other than goodwill	$ 39	$ 35		$ 31
[1]	The Group disposed of its shares in Wolseley UK Limited (“UK business”) on January 29, 2021. The UK results have been reclassified to discontinued operations and the prior year comparative results have been restated throughout the consolidated financial statements. See note 6 for further details.
[2]	The Group adopted IFRS 16 “Leases” on August 1, 2019 applying the modified retrospective transition method. As a result, comparatives have not been restated and are shown on an IAS 17 “Leases” basis. See note 1 for further details.

Acquisitions - Summary of acqui

Acquisitions - Summary of acquisitions (Details)	Jul. 31, 2021	Jun. 30, 2021	Jan. 31, 2021	Nov. 30, 2020	Oct. 31, 2020
Old Dominion Supply, Inc.
Disclosure of detailed information about business combination [line items]
Acquired %					100.00%
Atlantic Construction Fabrics, Inc.
Disclosure of detailed information about business combination [line items]
Acquired %				100.00%
Nova Wildcat Amerock Holdings, Inc.
Disclosure of detailed information about business combination [line items]
Acquired %			100.00%
Clarksville Lighting & Appliance, LLC
Disclosure of detailed information about business combination [line items]
Acquired %			100.00%
The Kitchen Showcase, Inc.
Disclosure of detailed information about business combination [line items]
Acquired %		100.00%
Moore Industrial Supply
Disclosure of detailed information about business combination [line items]
Acquired %	100.00%
Canyon Pipe & Supply, Inc.
Disclosure of detailed information about business combination [line items]
Acquired %	100.00%

Acquisitions - Assets acquired

Acquisitions - Assets acquired and liabilities assumed (Details) - USD ($) $ in Millions	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Disclosure of detailed information about business combination [line items]
Software	$ 0	$ 13
Customer relationships	132	101
Right of use assets	12	30
Property, plant and equipment	11	19
Inventories	51	58
Trade and other receivables	45	62
Cash, cash equivalents and bank overdrafts	13	6	$ 11
Lease liabilities	(12)	(30)
Trade and other payables	(30)	(28)
Deferred tax	(10)	(11)
Provisions	0	(2)
Total	244	255
Goodwill arising	80	78
Consideration	324	333
Cash	299	321	$ 656
Deferred consideration	25	12
Total consideration	324	333
Trade names and brands
Disclosure of detailed information about business combination [line items]
Identifiable intangible assets recognised as of acquisition date	17	34
Other
Disclosure of detailed information about business combination [line items]
Identifiable intangible assets recognised as of acquisition date	$ 15	$ 3

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($) $ in Millions	10 Months Ended	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2021
Business Combinations [Abstract]
Revenue of acquisitions since acquisition dates	$ 159
Trading profit of acquisitions since acquisition dates	9
Loss to operating profit of acquisitions since acquisition dates	(10)
Loss before tax of acquisition since acquisition dates	(15)
Loss of acquisitions since acquisition dates	$ (17)
Revenue of combined entity as if combination occurred at beginning of period		$ 22,999
Trading profit of combined entity as if combination occurred at beginning of period		2,195
Profit from operating activities of combined entity as if combination occurred at beginning of period		2,044
Profit before tax of combined entity as if combination occurred at beginning of period		1,895
Profit of combined entity as if combination occurred at beginning of period		$ 1,653

Acquisitions - Net outflow of c

Acquisitions - Net outflow of cash in respect of the purchase of businesses (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Business Combinations [Abstract]
Purchase consideration	$ 299	$ 321	$ 656
Deferred and contingent consideration in respect of acquisitions from prior years	49	36	12
Cash consideration	348	357	668
Cash, cash equivalents and bank overdrafts	(13)	(6)	(11)
Net cash outflow in respect of the purchase of businesses	$ 335	$ 351	$ 657

Disposals - Narrative (Details)

Disposals - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Disclosure of analysis of single amount of discontinued operations [line items]
Gain on disposal of businesses	$ (356)	$ 0	$ 19
UK Businesses
Disclosure of analysis of single amount of discontinued operations [line items]
Loss on current year disposal of businesses	(370)	0
Gain on prior year disposal of businesses	$ 14	$ 0

Disposals - Loss on Current Per

Disposals - Loss on Current Period Disposal (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Disclosure of analysis of single amount of discontinued operations [line items]
Net cash inflow from the disposal of businesses	$ 380	$ 7	$ 98
Discontinued operations
Disclosure of analysis of single amount of discontinued operations [line items]
Net cash inflow from the disposal of businesses	422	0
Net assets disposed of	(390)	0
Disposal costs and provisions	(32)	0
Recycling of deferred foreign exchange losses	(370)	0
Current period loss on disposal	$ (370)	$ 0

Disposals - Net Inflow of Cash

Disposals - Net Inflow of Cash in Respect of Disposals of Businesses Reported within Discontinued Operations (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Discontinued Operations And Disposal Groups [Abstract]
Cash consideration received for current period disposals (net of cash disposed of)	$ 395	$ 0	$ 220
Cash consideration received in respect of prior year disposals	19	9	(2)
Cash paid in respect of prior year disposals	(2)	(2)	(16)
Disposal costs paid	(32)	0	(1)
Net cash flow in respect of disposals of businesses	$ 380	$ 7	$ 201

Changes in cash and cash equi_3

Changes in cash and cash equivalents, bank overdrafts and liabilities arising from financing activities (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Cash, cash equivalents and bank overdrafts at the beginning of the year	$ 2,115	$ 1,133	$ 833
Bank overdrafts at the beginning of the year	248	47	375
Cash, cash equivalents and bank overdrafts at the beginning of the year	1,867	1,086	458
Loans at the beginning of the year	3,166
Obligations under finance leases at the beginning of the year	0	(6)	(6)
Total excluding lease liabilities at the beginning of the year	(1,012)	(1,195)	(1,080)
Lease liabilities at the beginning of the year	1,355	0	0
Total including lease liabilities at the beginning of the year	(2,367)	(1,195)	(1,080)
Proceeds from loans and derivatives	(4)	(1,169)	(757)
Repayments of loans	375	566	2
Finance lease capital payments	0	0	3
Lease liability capital payments	296	295	0
Cash, cash equivalents and bank overdrafts at the end of the year	1,335	2,115	1,133
Bank overdrafts at the end of the year	183	248	47
Cash, cash equivalents and bank overdrafts at the end of the year	1,152	1,867	1,086
Loans at the end of the year	2,711	3,166
Obligations under finance leases at the end of the year	0	0	(6)
Total excluding lease liabilities at the end of the year	(1,355)	(1,012)	(1,195)
Lease liabilities at the end of the year	1,090	1,355	0
Total including lease liabilities at the end of the year	(2,445)	(2,367)	(1,195)
Adjustment on adoption of IFRS 16
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Cash, cash equivalents and bank overdrafts at the beginning of the year		0
Bank overdrafts at the beginning of the year		0
Cash, cash equivalents and bank overdrafts at the beginning of the year		0
Obligations under finance leases at the beginning of the year		6
Total excluding lease liabilities at the beginning of the year		6
Lease liabilities at the beginning of the year		1,481
Total including lease liabilities at the beginning of the year		(1,475)
Cash, cash equivalents and bank overdrafts at the end of the year			0
Bank overdrafts at the end of the year			0
Cash, cash equivalents and bank overdrafts at the end of the year			0
Obligations under finance leases at the end of the year			6
Total excluding lease liabilities at the end of the year			6
Lease liabilities at the end of the year			1,481
Total including lease liabilities at the end of the year			(1,475)
After adjustment
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Cash, cash equivalents and bank overdrafts at the beginning of the year		1,133
Bank overdrafts at the beginning of the year		47
Cash, cash equivalents and bank overdrafts at the beginning of the year		1,086
Obligations under finance leases at the beginning of the year		0
Total excluding lease liabilities at the beginning of the year		(1,189)
Lease liabilities at the beginning of the year		1,481
Total including lease liabilities at the beginning of the year		(2,670)
Cash, cash equivalents and bank overdrafts at the end of the year			1,133
Bank overdrafts at the end of the year			47
Cash, cash equivalents and bank overdrafts at the end of the year			1,086
Obligations under finance leases at the end of the year			0
Total excluding lease liabilities at the end of the year			(1,189)
Lease liabilities at the end of the year			1,481
Total including lease liabilities at the end of the year			(2,670)
Total including lease liabilities
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Proceeds from loans and derivatives	(4)	(1,169)	(757)
Repayments of loans	375	566	2
Finance lease capital payments			3
Lease liability capital payments	296	295
Interest paid on lease liabilities	46	53
Changes due to disposal of businesses	106		(1)
Changes due to acquisition of businesses	13	6	8
Other cash flows	(702)	771	628
Lease liability additions	(97)	(115)
Discount unwinding on lease liabilities	(46)	(53)
Changes in lease liabilities due to acquisition of businesses	(12)	(30)
Fair value and other adjustments	(42)	(8)	(1)
Exchange movements	(11)	(13)	3
Total excluding lease liabilities
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Proceeds from loans and derivatives	(4)	(1,169)	(757)
Repayments of loans	375	566	2
Finance lease capital payments			3
Lease liability capital payments	0	0
Interest paid on lease liabilities	0	0
Changes due to disposal of businesses	(27)		(1)
Changes due to acquisition of businesses	13	6	8
Other cash flows	(702)	771	628
Lease liability additions	0	0
Discount unwinding on lease liabilities	0	0
Changes in lease liabilities due to acquisition of businesses	0	0
Fair value and other adjustments	2	8	(1)
Exchange movements	0	(5)	3
Cash and cash equivalents and bank overdrafts
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Proceeds from loans and derivatives	0	0	0
Repayments of loans	0	0	0
Finance lease capital payments			0
Lease liability capital payments	0	0
Interest paid on lease liabilities	0	0
Changes due to disposal of businesses	(27)		(1)
Changes due to acquisition of businesses	13	6	11
Other cash flows	(702)	771	628
Lease liability additions	0	0
Discount unwinding on lease liabilities	0	0
Changes in lease liabilities due to acquisition of businesses	0	0
Fair value and other adjustments	0	0	0
Exchange movements	1	4	(10)
Derivative financial instruments
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Proceeds from loans and derivatives	(4)	(7)	(7)
Repayments of loans	0	0	0
Finance lease capital payments			0
Lease liability capital payments	0	0
Interest paid on lease liabilities	0	0
Changes due to disposal of businesses	0		0
Changes due to acquisition of businesses	0	0	0
Other cash flows	0	0	0
Lease liability additions	0	0
Discount unwinding on lease liabilities	0	0
Changes in lease liabilities due to acquisition of businesses	0	0
Fair value and other adjustments	(13)	28	25
Exchange movements	(1)	(4)	6
Loans
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Proceeds from loans and derivatives	0	(1,162)	(750)
Repayments of loans	375	566	2
Finance lease capital payments			0
Lease liability capital payments	0	0
Interest paid on lease liabilities	0	0
Changes due to disposal of businesses	0		0
Changes due to acquisition of businesses	0	0	0
Other cash flows	0	0	0
Lease liability additions	0	0
Discount unwinding on lease liabilities	0	0
Changes in lease liabilities due to acquisition of businesses	0	0
Fair value and other adjustments	15	(20)	(26)
Exchange movements	0	(5)	7
Obligations under finance leases
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Proceeds from loans and derivatives	0	0	0
Repayments of loans	0	0	0
Finance lease capital payments			3
Lease liability capital payments	0	0
Interest paid on lease liabilities	0	0
Changes due to disposal of businesses	0		0
Changes due to acquisition of businesses	0	0	(3)
Other cash flows	0	0	0
Lease liability additions	0	0
Discount unwinding on lease liabilities	0	0
Changes in lease liabilities due to acquisition of businesses	0	0
Fair value and other adjustments	0	0	0
Exchange movements	0	0	0
Lease liabilities
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Proceeds from loans and derivatives	0	0	0
Repayments of loans	0	0	0
Finance lease capital payments			0
Lease liability capital payments	296	295
Interest paid on lease liabilities	46	53
Changes due to disposal of businesses	133		0
Changes due to acquisition of businesses	0	0	0
Other cash flows	0	0	0
Lease liability additions	(97)	(115)
Discount unwinding on lease liabilities	(46)	(53)
Changes in lease liabilities due to acquisition of businesses	(12)	(30)
Fair value and other adjustments	(44)	(16)	0
Exchange movements	(11)	(8)	0
Senior unsecured loan notes
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Loans at the beginning of the year	2,918	2,297	1,530
Loans at the end of the year	2,528	2,918	2,297
Senior unsecured loan notes | Adjustment on adoption of IFRS 16
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Loans at the beginning of the year		0
Loans at the end of the year			0
Senior unsecured loan notes | After adjustment
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Loans at the beginning of the year		2,297
Loans at the end of the year			2,297
Financial assets at fair value through profit and loss
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Derivative financial instruments at the beginning of the year	39	22	(2)
Derivative financial instruments at the end of the year	$ 21	39	22
Financial assets at fair value through profit and loss | Adjustment on adoption of IFRS 16
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Derivative financial instruments at the beginning of the year		0
Derivative financial instruments at the end of the year			0
Financial assets at fair value through profit and loss | After adjustment
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Derivative financial instruments at the beginning of the year		$ 22
Derivative financial instruments at the end of the year			$ 22

Changes in cash and cash equi_4

Changes in cash and cash equivalents, bank overdrafts and liabilities arising from financing activities - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Cash and cash equivalents [abstract]
Cash outflow for leases	$ 359	$ 377

Related party transactions (Det

Related party transactions (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Jul. 31, 2019
Non-Executive Directors
Disclosure of transactions between related parties [line items]
Purchases of goods and services, related party transactions	$ 24	$ 18	$ 7
Amounts payable, related party transactions	0	0	0
Board member
Disclosure of transactions between related parties [line items]
Donations and subsidies expense	2	0	$ 0
Outstanding commitments made by entity, related party transactions	$ 1	$ 0