AstraZeneca (AZN) 20-F 3 Mar 20 2019 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2019shares
Document and Entity Information
Entity Registrant Name	ASTRAZENECA PLC
Entity Central Index Key	0000901832
Document Type	20-F
Document Period End Date	Dec. 31, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2019
Incorporation Country Code	X0
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Entity Interactive Data Current	Yes
Ordinary shares
Document and Entity Information
Entity Common Stock, Shares Outstanding	1,312,137,976
Preference shares
Document and Entity Information
Entity Common Stock, Shares Outstanding	50,000

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Consolidated Statement of Comprehensive Income
Product Sales	$ 23,565	$ 21,049	$ 20,152
Collaboration Revenue	819	1,041	2,313
Total Revenue	24,384	22,090	22,465
Cost of sales	(4,921)	(4,936)	(4,318)
Gross Profit	19,463	17,154	18,147
Distribution costs	(339)	(331)	(310)
Research and development expense	(6,059)	(5,932)	(5,757)
Selling, general and administrative costs	(11,682)	(10,031)	(10,233)
Other operating income and expense	1,541	2,527	1,830
Operating profit	2,924	3,387	3,677
Finance income	172	138	113
Finance expense	(1,432)	(1,419)	(1,508)
Share of after-tax losses in associates and joint ventures	(116)	(113)	(55)
Profit before tax	1,548	1,993	2,227
Taxation	(321)	57	641
Profit for the period	1,227	2,050	2,868
Other comprehensive income:
Remeasurement of the defined benefit pension liability	(364)	(46)	(242)
Net losses on equity investments measured at fair-value through other comprehensive income	(28)	(171)
Fair-value movements related to own credit risk on bonds designated as fair value through profit or loss	(5)	8	(9)
Tax on items that will not be reclassified to profit or loss	21	56	16
Total other comprehensive income that will not be reclassified to profit or loss, net of tax	(376)	(153)	(235)
Foreign exchange arising on consolidation	40	(450)	536
Foreign exchange arising on designating borrowings in net investment hedges	(252)	(520)	505
Fair value movements on cash flow hedges	(101)	(37)	311
Fair value movements on cash flow hedges transferred to profit or loss	52	111	(315)
Fair value movements on derivatives designated in net investment hedges	(35)	8	48
Amortisation of loss on cash flow hedge		1	1
Costs of hedging	(47)	(54)
Net available for sale (losses)/gains taken to equity			(83)
Tax on items that may be reclassified subsequently to profit or loss	38	51	(33)
Total other comprehensive income that will be reclassified to profit or loss, net of tax	(235)	(906)	874
Other comprehensive income/(loss) for the period, net of tax	(611)	(1,059)	639
Total comprehensive income for the period	616	991	3,507
Owners of the Parent	1,335	2,155	3,001
Non-controlling interests	(108)	(105)	(133)
Total comprehensive income attributable to:
Owners of the Parent	723	1,097	3,640
Non-controlling interests	(107)	(106)	(133)
Total comprehensive income for the period	$ 616	$ 991	$ 3,507
Basic earnings loss per (in dollars per share)	$ 1.03	$ 1.70	$ 2.37
Diluted earnings loss per Share (in dollars per share)	$ 1.03	$ 1.70	$ 2.37
Weighted average number of Ordinary Shares in issue for basic earnings	1,301	1,267	1,266
Diluted weighted average number of Ordinary Shares in issue (millions)	1,301	1,267	1,267
Dividends declared and paid in the period	$ 3,579	$ 3,539	$ 3,543

Consolidated Statement of Com_2

Consolidated Statement of Comprehensive Income (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Consolidated Statement of Comprehensive Income
Par value per ordinary share	$ 0.25	$ 0.25	$ 0.25

Consolidated Statement of Finan

Consolidated Statement of Financial Position - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Non-current assets
Property, plant and equipment	$ 7,688	$ 7,421	$ 7,615
Right-of-use assets	647
Goodwill	11,668	11,707	11,825
Intangible assets	20,833	21,959	26,188
Derivative financial instruments	61	157	504
Investments in associates and joint ventures	58	89	103
Other investments	1,401	833	933
Other receivables	740	515	847
Deferred tax assets	2,718	2,379	2,189
Total non-current assets	45,814	45,060	50,204
Current assets
Inventories	3,193	2,890	3,035
Trade and other receivables	5,761	5,574	5,009
Other investments	849	849	1,230
Derivative financial instruments	36	258	28
Income tax receivable	285	207	524
Cash and cash equivalents	5,369	4,831	3,324
Assets held for sale	70	982	0
Total current assets	15,563	15,591	13,150
Total assets	61,377	60,651	63,354
Current liabilities
Interest-bearing loans and borrowings	(1,822)	(1,754)	(2,247)
Lease liabilities	(188)
Trade and other payables	(13,987)	(12,841)	(11,641)
Derivative financial instruments	(36)	(27)	(24)
Provisions	(723)	(506)	(1,121)
Income tax payable	(1,361)	(1,164)	(1,350)
Current liabilities	(18,117)	(16,292)	(16,383)
Non-current liabilities
Interest-bearing loans and borrowings	(15,730)	(17,359)	(15,560)
Lease liabilities	(487)
Derivative financial instruments	(18)	(4)	(4)
Deferred tax liabilities	(2,490)	(3,286)	(3,995)
Retirement benefit obligations	(2,807)	(2,511)	(2,583)
Provisions	(841)	(385)	(347)
Other payables	(6,291)	(6,770)	(7,840)
Total non-current liabilities	(28,664)	(30,315)	(30,329)
Total liabilities	(46,781)	(46,607)	(46,712)
Net assets	14,596	14,044	16,642
Equity
Share capital	328	317	317
Share premium account	7,941	4,427	4,393
Capital redemption reserve	153	153	153
Merger reserve	448	448	448
Other reserves	1,445	1,440	1,428
Retained earnings	2,812	5,683	8,221
Total equity attributable to owners of parent	13,127	12,468	14,960
Non-controlling interests	1,469	1,576	1,682
Total equity	$ 14,596	$ 14,044	$ 16,642

Consolidated Statement of Chang

Consolidated Statement of Changes in Equity - USD ($) $ in Millions	Share Capital	Share Premium account	Capital redemption reserve.	Merger reserve.	Other reserves	Retained earnings.	Total attributable to owners of the parent	Non-controlling interests.	Total
Equity at beginning of period at Dec. 31, 2016	$ 316	$ 4,351	$ 153	$ 448	$ 1,446	$ 8,140	$ 14,854	$ 1,815	$ 16,669
Profit for the period						3,001	3,001	(133)	2,868
Other comprehensive income (loss)						639	639		639
Transfer to other reserves					(18)	18
Dividends						(3,543)	(3,543)		(3,543)
Issue of Ordinary Shares	1	42					43		43
Share-based payments charge for the period						220	220		220
Settlement of share plan awards						(254)	(254)		(254)
Net movement	1	42			(18)	81	106	(133)	(27)
Equity at end of period at Dec. 31, 2017	317	4,393	153	448	1,428	8,221	14,960	1,682	16,642
Profit for the period						2,155	2,155	(105)	2,050
Other comprehensive income (loss)						(1,058)	(1,058)	(1)	(1,059)
Transfer to other reserves					12	(12)
Dividends						(3,539)	(3,539)		(3,539)
Issue of Ordinary Shares		34					34		34
Share-based payments charge for the period						219	219		219
Settlement of share plan awards						(212)	(212)		(212)
Net movement		34			12	(2,538)	(2,492)	(106)	(2,598)
Equity at end of period at Dec. 31, 2018	317	4,427	153	448	1,440	5,683	12,468	1,576	14,044
Adoption of new accounting standard						(91)	(91)		(91)
Profit for the period						1,335	1,335	(108)	1,227
Other comprehensive income (loss)						(612)	(612)	1	(611)
Transfer to other reserves					5	(5)
Dividends						(3,579)	(3,579)		(3,579)
Issue of Ordinary Shares	11	3,514					3,525		3,525
Share-based payments charge for the period						259	259		259
Settlement of share plan awards						(323)	(323)		(323)
Net movement	11	3,514			5	(2,871)	659	(107)	552
Equity at end of period at Dec. 31, 2019	$ 328	$ 7,941	$ 153	$ 448	$ 1,445	2,812	13,127	$ 1,469	14,596
Adoption of new accounting standard						$ (54)	$ (54)		$ (54)

Consolidated Statement of Cha_2

Consolidated Statement of Changes in Equity (Parenthetical) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)
Issue of equity	$ 3,525
Costs of hedging	47
Share Capital
Issue of equity	11
Share Premium account
Issue of equity	3,514
Total attributable to owners of the parent
Issue of equity	3,525
Costs of hedging	$ 47

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities
Profit before tax	$ 1,548	$ 1,993	$ 2,227
Finance income and expense	1,260	1,281	1,395
Share of after-tax losses of associates and joint ventures	116	113	55
Depreciation, amortisation and impairment	3,762	3,753	3,036
(Increase)/decrease in trade and other receivables	(898)	(523)	83
Increase in inventories	(316)	(13)	(548)
(Decrease)/increase in trade and other payables and provisions	868	(103)	415
Gains on disposal of intangible assets	(1,243)	(1,885)	(1,518)
Fair value movements on contingent consideration arising from business combinations	(614)	(495)	109
Non-cash and other movements	378	(290)	(524)
Cash generated from operations	4,861	3,831	4,730
Interest paid	(774)	(676)	(698)
Tax paid	(1,118)	(537)	(454)
Net cash inflow from operating activities	2,969	2,618	3,578
Cash flows from investing activities
Non-contingent payments on business combinations			(1,450)
Payment of contingent consideration from business combinations	(709)	(349)	(434)
Purchase of property, plant and equipment	(979)	(1,043)	(1,326)
Disposal of property, plant and equipment	37	12	83
Purchase of intangible assets	(1,481)	(328)	(294)
Disposal of intangible assets	2,076	2,338	1,376
Movement in profit participation liability	150
Purchase of non-current asset investments	(13)	(102)	(96)
Disposal of non-current asset investments	18	24	70
Movement in short-term investments, fixed deposits and other investing instruments	194	405	(345)
Payments to joint ventures	(74)	(187)	(76)
Interest received	124	193	164
Net cash (outflow)/inflow from investing activities	(657)	963	(2,328)
Net cash inflow before financing activities	2,312	3,581	1,250
Cash flows from financing activities
Proceeds from issue of share capital	3,525	34	43
Issue of loans	500	2,971	1,988
Repayment of loans	(1,500)	(1,400)	(1,750)
Dividends paid	(3,592)	(3,484)	(3,519)
Hedge contracts relating to dividend payments	4	(67)	(20)
Repayment of obligations under leases	(186)		(14)
Movement in short-term borrowings	(516)	(98)	336
Net cash outflow from financing activities	(1,765)	(2,044)	(2,936)
Net (decrease)/increase in cash and cash equivalents in the period	547	1,537	(1,686)
Cash and cash equivalents at the beginning of the period	4,671	3,172	4,924
Exchange rate effects	5	(38)	(66)
Cash and cash equivalents at the end of the period	5,223	4,671	3,172
Cash and cash equivalents	5,369	4,831	3,324
Overdrafts	$ (146)	$ (160)	$ (152)

Group Accounting Policies

Group Accounting Policies	12 Months Ended
	Dec. 31, 2019
Group Accounting Policies
Group Accounting Policies	Basis of accounting and preparation of financial information The Consolidated Financial Statements have been prepared under the historical cost convention, modified to include revaluation to fair value of certain financial instruments as described below, in accordance with the Companies Act 2006 and International Financial Reporting Standards (IFRSs) as adopted by the EU (adopted IFRSs) in response to the IAS regulation (EC 1606/2002). The Consolidated Financial Statements also comply fully with IFRSs as issued by the International Accounting Standards Board (IASB). IFRS 3 AstraZeneca had proposed to adopt the October 2018 update to IFRS 3, which changed the definition of a business, from 1 January 2019, and has previously published interim financial statements on this basis. This was done on the basis that it was considered highly probable that the amendment would be endorsed by the European Commission during 2019 before its effective date of 1 January 2020 with early adoption permitted, following a recommendation from the European Financial Reporting Advisory Group (EFRAG), the association set up to provide advice to the European Commission on whether newly issued or revised IFRSs meet the criteria for endorsement for use in the EU. The change in definition of a business within IFRS 3 introduces an optional concentration test to perform a simplified assessment of whether an acquired set of activities and assets is or is not a business on a transaction by transaction basis. This change was expected to provide more reliable and comparable information about certain transactions as it provides more consistency in accounting in the pharmaceutical industry for substantially similar transactions that under the previous definition may have been accounted for in different ways despite limited differences in substance. During the year, the EFRAG amended its guidance on the expected date of endorsement, and the European Commission is expected to endorse the change during 2020, with application required for accounting periods beginning on or after 1 January 2020. Accordingly this amendment has not been applied in the Consolidated Financial Statements, however this has not resulted in a different accounting treatment for any transactions undertaken during the year when compared with the amended version of IFRS 3, pending endorsement. IFRS 16 IFRS 16 ‘Leases’ is effective for accounting periods beginning on or after 1 January 2019 and replaces IAS 17 ‘Leases’. It eliminates the classification of leases as either operating leases or finance leases and, instead, introduces a single lessee accounting model. The adoption of IFRS 16 resulted in the Group recognising lease liabilities, and corresponding ‘right-of-use’ assets for arrangements that were previously classified as operating leases. The Group’s principal lease arrangements are for property, most notably a portfolio of office premises, and for a global car fleet, utilised primarily by our sales and marketing teams. The Group has adopted IFRS 16 using a modified retrospective approach with the cumulative effect of initially applying the standard as an adjustment to the opening balance of retained earnings at 1 January 2019. The standard permits a choice on initial adoption, on a lease-by-lease basis, to measure the right-of-use asset at either its carrying amount as if IFRS 16 had been applied since the commencement of the lease, or an amount equal to the lease liability, adjusted for accruals or prepayments. The Group has elected to measure the right-of-use asset equal to the lease liability, with the result of no net impact on opening retained earnings and no restatement of prior period comparatives. Initial adoption resulted in the recognition of right-of-use assets of $722m and lease liabilities of $720m. The weighted average incremental borrowing rate applied to the lease liabilities on 1 January 2019 was 3%. The Group is using one or more practical expedients on transition to leases previously classified as operating leases, including electing to not apply the retrospective treatment to leases for which the term ends within 12 months of initial application, electing to apply a single discount rate to portfolios of leases with similar characteristics, reliance on previous assessments on whether arrangements contain a lease and whether leases are onerous, excluding initial direct costs from the initial measurement of the right-of-use asset, and using hindsight in determining the lease term where the contract contains options to extend or terminate the lease. Judgements made in calculating the initial impact of adoption include determining the lease term where extension or termination options exist. In such instances, all facts and circumstances that may create an economic incentive to exercise an extension option, or not exercise a termination option, have been considered to determine the lease term. Extension periods (or periods after termination options) are only included in the lease term if the lease is reasonably certain to be extended (or not terminated). Estimates include calculating the discount rate which is based on the incremental borrowing rate. The Group is applying IFRS 16’s low-value and short-term exemptions. While the IFRS 16 opening lease liability is calculated differently from the previous operating lease commitment calculated under the previous standard, there are no material differences between the positions. The adoption of IFRS 16 has had no impact on the Group’s net cash flows, although a presentation change has been reflected whereby cash outflows of $186m are now presented as financing, instead of operating. There is an immaterial benefit to Operating profit and a corresponding increase in Finance expense from the presentation of a portion of lease costs as interest costs. Profit before tax, taxation and EPS have not been materially impacted. IFRIC 23 IFRIC 23 ‘Uncertainty Over Income Tax Treatments’ is effective for accounting periods beginning on or after 1 January 2019 and provides further clarification on how to apply the recognition and measurement requirements in IAS 12 ‘Income Taxes’. It is applicable where there is uncertainty over income tax treatments. The EU endorsed IFRIC 23 on 24 October 2018. The adoption of IFRIC 23 has principally resulted in an adjustment in the value of tax liabilities because IFRIC 23 requires the Group to measure the effect of uncertainty on income tax positions using either the most likely amount or the expected value amount depending on which method is expected to better reflect the resolution of the uncertainty. The Group has retrospectively applied IFRIC 23 from 1 January 2019 recognising the cumulative effect of initially applying the interpretation as decreases to income tax payable of $51m and to trade and other payables of $3m, and a corresponding adjustment to the opening balance of retained earnings of $54m. There is no restatement of the comparative information as permitted in the interpretation. IFRS 9, IAS 39, IFRS 7 The Group has early adopted the amendments to IFRS 9 'Financial Instruments', IAS 39 'Financial Instruments: Recognition and Measurement' and IFRS 7 'Financial Instruments: Disclosures'. These relate to interbank offered rates (IBORs) reform and were endorsed by the EU on 6 January 2020. The replacement of benchmark interest rates such as LIBOR and other IBORs is a priority for global regulators. The amendments provide relief from applying specific hedge accounting requirements to hedge relationships directly affected by IBOR reform and have the effect that IBOR reform should generally not cause hedge accounting to terminate. There is no financial impact from the early adoption of these amendments. The Group has one IFRS 9 designated hedge relationship that is potentially impacted by IBOR reform: our euro 300m cross currency interest rate swap in a fair value hedge relationship with euro 300m of our euro 750m 0.875% 2021 non-callable bond. This swap references three month USD LIBOR and uncertainty arising from the Group's exposure to IBOR reform will cease when the swap matures in 2021. The implications on the wider business of IBOR reform will be assessed during 2020. Collaboration Revenue Effective from 1 January 2019, the Group updated the presentation of an element of Total Revenue within the Statement of Comprehensive Income and changed the classification of some income to reflect the increasing importance of collaborations to AstraZeneca. Historically, Externalisation Revenue formed part of Total Revenue and only included income arising from collaborative transactions involving AstraZeneca's medicines, whether internally developed or previously acquired. Such income included upfront consideration, milestone receipts, profit share income and royalties, as well as other income from collaborations. The updated category of Collaboration Revenue includes all income previously included within Externalisation Revenue, as well as income of a similar nature arising from transactions where AstraZeneca has acquired an interest in a medicine and as part of the acquisition entered into an active collaboration with the seller. This change is a result of the growing importance of collaborations to AstraZeneca. Income arising from all collaborations, other than product sales, will be recognised within the Collaboration Revenue element of Total Revenue. Historically there has been no collaboration income arising from such acquisitions, and therefore no prior year restatement of financial results is required as a result of this change. Income from disposals of assets and businesses including royalties and milestones, where the Group does not retain a significant continued interest, continue to be recorded in Other Operating Income and Expense. The Consolidated Financial Statements are presented in US dollars, which is the Company’s functional currency. In preparing their individual financial statements, the accounting policies of some overseas subsidiaries do not conform with IASB issued IFRSs. Therefore, where appropriate, adjustments are made in order to present the Consolidated Financial Statements on a consistent basis. Basis for preparation of Financial Statements on a going concern basis The Group has considerable financial resources available. As at 31 December 2019, the Group has $10.4bn in financial resources (cash and cash equivalent balances of $5.4bn, $0.9bn of liquid fixed income securities and undrawn committed bank facilities of $4.1bn, of which $3.4bn is available until April 2022, $0.5bn is available until November 2020 (extendable to November 2021) and $0.2bn is available until December 2020, with only $2.0bn of borrowings due within one year). The Group’s revenues are largely derived from sales of products which are covered by patents which provide a relatively high level of resilience and predictability to cash inflows, although government price interventions in response to budgetary constraints are expected to continue to adversely affect revenues in many of our mature markets. However, we anticipate new revenue streams from both recently launched medicines and products in development, and the Group has a wide diversity of customers and suppliers across different geographic areas. Consequently, the Directors believe that, overall, the Group is well placed to manage its business risks successfully. Accordingly, they continue to adopt the going concern basis in preparing the Annual Report and Financial Statements. Estimates and judgements The preparation of the Financial Statements in conformity with generally accepted accounting principles requires management to make estimates and judgements that affect the reported amounts of assets and liabilities at the date of the Financial Statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The accounting policy descriptions set out the areas where judgements and estimates need exercising, the most significant of which include the following Key Judgements and Significant Estimates: > revenue recognition – see Revenue Accounting Policy on page 174 and Note 1 on page 180 > expensing of internal development expenses – see Research and Development Policy on page 174 > impairment reviews of Intangible assets – see Note 10 on page 191 > useful economic life of Intangibles assets – see Research and Development Policy on page 175 and Note 10 on page 192 > business combinations and Goodwill (and Contingent consideration arising from business combinations) – see Business Combinations and Goodwill Policy on page 177 and Note 20 on page 200 > litigation liabilities – see Litigation and Environmental Liabilities within Note 29 on page 221 > operating segments – see Note 6 on page 186 > employee benefits – see Note 22 on page 207) > taxation – see Taxation Policy on page 175, Note 29 on page 225 and Note 29 on page 224 Financial risk management policies are detailed in Note 27 to the Financial Statements from page 210. AstraZeneca’s management considers the following to be the most important accounting policies in the context of the Group’s operations. Revenue Revenues comprise Product Sales and Collaboration Revenue. Product Sales are revenues arising from contracts with customers. Collaboration Revenue arises from other contracts, however, the recognition and measurement principles of IFRS 15 ‘Revenue from Contracts with Customers’ are applied as set out below. Prior to 1 January 2018, the Group applied IAS 18 ‘Revenue’. On adoption of IFRS 15 on 1 January 2018, there was no material impact on the revenue streams from the supply of goods and associated rebates and returns provisions or Collaboration Revenue. The timing of the recognition of Product Sales and the basis for the estimates of sales deductions under IFRS 15 are consistent with those adopted under IAS 18. Revenues exclude inter-company revenues and value-added taxes. Product Sales Product Sales represent net invoice value less estimated rebates, returns and chargebacks, which are considered to be variable consideration and include significant estimates. Sales are recognised when the control of the goods has been transferred to a third party. This is usually when title passes to the customer, either on shipment or on receipt of goods by the customer, depending on local trading terms. In markets where returns are significant, estimates of returns are accounted for at the point revenue is recognised. Revenue is not recognised in full until it is highly probable that a significant reversal in the amount of cumulative revenue recognised will occur. Rebates are amounts payable or credited to a customer, usually based on the quantity or value of Product Sales to the customer for specific products in a certain period. Product sales rebates, which relate to Product Sales that occur over a period of time, are normally issued retrospectively. At the time Product Sales are invoiced, rebates and deductions that the Group expects to pay, are estimated. These rebates typically arise from sales contracts with government payers, third party managed care organisations, hospitals, long-term care facilities, group purchasing organisations and various state programmes. For the markets where returns are significant, we estimate the quantity and value of goods which may ultimately be returned at the point of sale. Our returns accruals are based on actual experience over the preceding 12 months for established products together with market-related information such as estimated stock levels at wholesalers and competitor activity which we receive via third-party information services. For newly launched products, we use rates based on our experience with similar products or a predetermined percentage. When a product faces generic competition, particular attention is given to the possible levels of returns and, in cases where the circumstances are such that the level of Product Sales are considered highly probable to reverse, revenues are only recognised when the right of return expires, which is generally on ultimate prescription of the product to patients. The methodology and assumptions used to estimate rebates and returns are monitored and adjusted regularly in the light of contractual and legal obligations, historical trends, past experience and projected market conditions. Once the uncertainty associated with returns is resolved, revenue is adjusted accordingly. Under certain collaboration agreements which include a profit sharing mechanism, our recognition of Product Sales depends on which party acts as principal in sales to the end customer. In the cases where AstraZeneca acts as principal, we record 100% of sales to the end customer. Collaboration Revenue Collaboration Revenue includes income from collaborative arrangements where either the Group has sold certain rights associated with those products, but retains a significant ongoing economic interest or has acquired a significant interest from a third party. Significant interest can include ongoing supply of finished goods, participation in profit share arrangements or direct interest from sales of medicines. These arrangements may include development arrangements, commercialisation arrangements and collaborations. Income may take the form of upfront fees, milestones, profit sharing and royalties and includes profit share income arising from sales made as principal by a collaboration partner. Timing of recognition of clinical and regulatory milestones is considered to be a key judgement. There can be significant uncertainty over whether it is highly probable that there would not be a significant reversal of revenue in respect of specific milestones if these are recognised before they are triggered due to them being subject to the actions of third parties. In general, where the triggering of a milestone is subject to the decisions of third parties (e.g. the acceptance or approval of a filing by a regulatory authority), the Group does not consider that the threshold for recognition is met until that decision is made. Where Collaboration Revenue arises from the licensing of the Group’s own intellectual property, the licences we grant are typically rights to use intellectual property which do not change during the period of the licence and therefore related non-conditional revenue is recognised at the point the license is granted and variable consideration as soon as recognition criteria are met. Those licences are generally unique and therefore when there are other performance obligations in the contract, the basis of allocation of the consideration makes use of the residual approach as permitted by IFRS 15. These arrangements typically involve the receipt of an upfront payment, which the contract attributes to the license of the intangible assets, and ongoing receipts, which the contract attributes to the sale of the product we manufacture. In cases where the transaction has two or more components, we account for the delivered item (for example, the transfer of title to the intangible asset) as a separate unit of accounting and record revenue on delivery of that component, provided that we can make a reasonable estimate of the fair value of the undelivered component. Where non-contingent amounts are payable over one year from the effective date of a contract, an assessment is made as to whether a significant financing component exists, and if so, the fair value of this component is deferred and recognised over the period to the expected date of receipt. Where control of a right to use an intangible asset passes at the outset of an arrangement, revenue is recognised at the point in time control is transferred. Where the substance of an arrangement is that of a right to access rights attributable to an intangible asset, revenue is recognised over time, normally on a straight-line basis over the life of the contract. Where the fair market value of the undelivered component (for example, a manufacturing agreement) exceeds the contracted price for that component, we defer an appropriate element of the upfront consideration and amortise this over the performance period. However, where the fair market value of the undelivered component is equal to or lower than the contracted price for that component, we treat the whole of the upfront amount as being attributable to the delivered intangible assets and recognise that part of the revenue upon delivery. No element of the contracted revenue related to the undelivered component is ordinarily allocated to the sale of the intangible asset. This is because the contracted revenue relating to the undelivered component is contingent on future events (such as sales) and cannot be recognised until either receipt of the amount is highly probable or where the consideration is received for a licence of intellectual property, on the occurrence of the related sales. Where the Group provides ongoing services, revenue in respect of this element is recognised over the duration of those services. Where the arrangement meets the definition of a licence agreement, sales milestones and sales royalties are recognised when achieved by applying the royalty exemption under IFRS 15. All other milestones and sales royalties are recognised when considered it is highly probable there will not be a significant reversal of income. The determination requires estimates to be made in relation to future Product Sales. Where Collaboration Revenue is recorded and there is a related Intangible asset, an appropriate amount of that intangible asset is charged to Cost of sales based on an allocation of cost or value to the rights that have been sold. Cost of sales Cost of sales are recognised as the associated revenue is recognised. Cost of sales include manufacturing costs, royalties payable on revenues recognised, movements in provisions for inventories, inventory write-offs and impairment charges in relation to manufacturing assets. Cost of sales also includes partner profit shares arising from collaborations, and foreign exchange gains and losses arising from business trading activities. Research and development Research expenditure is recognised in profit in the year in which it is incurred. Internal development expenditure is capitalised only if it meets the recognition criteria of IAS 38 ‘Intangible Assets’. This is considered a key judgement. Where regulatory and other uncertainties are such that the criteria are not met, the expenditure is charged to profit and loss and this is almost invariably the case prior to approval of the drug by the relevant regulatory authority. Where, however, recognition criteria are met, Intangible assets are capitalised and amortised on a straight-line basis over their useful economic lives from product launch. At 31 December 2019, no amounts have met the recognition criteria. Payments to in-license products and compounds from third parties for new research and development projects (in process research and development) generally take the form of upfront payments, milestones and royalty payments. Where payments made to third parties represent consideration for future research and development activities, an evaluation is made as to the nature of the payments. Such payments are expensed if they represent compensation for sub-contracted research and development services not resulting in a transfer of intellectual property. By contrast, payments are capitalised if they represent compensation for the transfer of identifiable intellectual property developed at the risk of the third party. Development milestone payments relating to identifiable intellectual property are capitalised as the milestone is triggered. Any upfront or milestone payments for research activities where there is no associated identifiable intellectual property are expensed. Assets capitalised are amortised, on a straight-line basis, over their useful economic lives from product launch. The determination of useful economic life is considered to be a key judgement. On product launch, the Group makes a judgement as to the expected useful economic life using our detailed long-term risk-adjusted sales projections compiled annually across the Group and approved by the Board, and for assets where the useful economic life extends beyond this period, appropriately reviewed, risk-adjusted sales projections. The useful economic life can extend beyond patent expiry as dependent upon the nature of the product and the complexity of the development and manufacturing process. Significant sales can often be achieved post patent expiration. Intangible assets Intangible assets are stated at cost less provision for amortisation and impairments. Intangible assets relating to products in development are subject to impairment testing annually. All Intangible assets are tested for impairment when there are indications that the carrying value may not be recoverable. The determination of the recoverable amounts include key estimates which are highly sensitive to, and depend upon, key assumptions as detailed in Note 10 to the Financial Statements from page 190. Impairment reviews have been carried out on all Intangible assets that are in development (and not being amortised), all major intangible assets acquired during the year and all other intangible assets that have had indications of impairment during the year. Recoverable amount is determined as the higher of value in use or fair value less costs to sell using a discounted cash flow calculation, where the products’ expected cash flows are risk-adjusted over their estimated remaining useful economic life. The determination of the recoverable amounts include significant estimates which are highly sensitive and depend upon key assumptions as detailed in Note 10 to the Financial Statements from page 190. Sales forecasts and specific allocated costs (which have both been subject to appropriate senior management review and approval) are risk-adjusted and discounted using appropriate rates based on our post-tax weighted average cost of capital or for fair value less costs to sell, an impairment rate for a market participant. Our weighted average cost of capital reflects factors such as our capital structure and our costs of debt and equity. Any impairment losses are recognised immediately in profit. Intangible assets relating to products which fail during development (or for which development ceases for other reasons) are also tested for impairment and are written down to their recoverable amount (which is usually nil). If, subsequent to an impairment loss being recognised, development restarts or other facts and circumstances change indicating that the impairment is less or no longer exists, the value of the asset is re-estimated and its carrying value is increased to the recoverable amount, but not exceeding the original value, by recognising an impairment reversal in profit. Joint arrangements and associates The Group has arrangements over which it has joint control and which qualify as joint operations or joint ventures under IFRS 11 ‘Joint Arrangements’. For joint operations, the Group recognises its share of revenue that it earns from the joint operations and its share of expenses incurred. The Group also recognises the assets associated with the joint operations that it controls and the liabilities it incurs under the joint arrangement. For joint ventures and associates, the Group recognises its interest in the joint venture or associate as an investment and uses the equity method of accounting. Employee benefits The Group accounts for pensions and other employee benefits (principally healthcare) under IAS 19 ‘Employee Benefits’ and recognises all actuarial gains and losses immediately through Other comprehensive income. In respect of defined benefit plans, obligations are measured at discounted present value while plan assets are measured at fair value. Given the extent of the assumptions used to determine these values, these are considered to be significant estimates. The operating and financing costs of such plans are recognised separately in profit, current service costs are spread systematically over the lives of employees and financing costs are recognised in full in the periods in which they arise. Remeasurements of the net defined benefit pension liability, including actuarial gains and losses, are recognised immediately in Other comprehensive income. Where the calculation results in a surplus to the Group, the recognised asset is limited to the present value of any available future refunds from the plan or reductions in future contributions to the plan. Payments to defined contribution plans are recognised in profit as they fall due. Taxation The current tax payable is based on taxable profit for the year. Taxable profit differs from reported profit because taxable profit excludes items that are either never taxable or tax deductible or items that are taxable or tax deductible in a different period. The Group's current tax assets and liabilities are calculated using tax rates that have been enacted or substantively enacted by the reporting date. Deferred tax is provided using the balance sheet liability method, providing for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax assets are recognised to the extent that it is probable that future taxable profit will be available against which the asset can be utilised. This requires judgements to be made in respect of the availability of future taxable income. No deferred tax asset or liability is recognised in respect of temporary differences associated with investments in subsidiaries and branches where the Group is able to control the timing of reversal of the temporary differences and it is probable that the temporary differences will not reverse in the foreseeable future. The Group's Deferred tax assets and liabilities are calculated using tax rates that are expected to apply in the period when the liability is settled or the asset realised based on tax rates that have been enacted or substantively enacted by the reporting date. Accruals for tax contingencies require management to make judgements of potential exposures in relation to tax audit issues. Tax benefits are not recognised unless the tax positions will probably be accepted by the tax authorities. This is based upon management's interpretation of applicable laws and regulations and the expectation of how the tax authority will resolve the matter. Once considered probable of not being accepted, management reviews each material tax benefit and reflects the effect of the uncertainty in determining the related taxable result. Accruals for tax contingencies are measured using either the most likely amount or the expected value amount depending on which method the entity expects to better predict the resolution of the uncertainty. Further details of the estimates and assumptions made in determining our recorded liability for transfer pricing contingencies and other tax contingencies are included in Note 29 to the Financial Statements on page 225. Share-based payments All plans are assessed and have been classified as equity settled. The grant date fair value of employee share plan awards is calculated using a Monte Carlo model. In accordance with IFRS 2 ‘Share-based Payment’, the resulting cost is recognised in profit over the vesting period of the awards, being the period in which the services are received. The value of the charge is adjusted to reflect expected and actual levels of awards vesting, except where the failure to vest is as a result of not meeting a market condition. Cancellations of equity instruments are treated as an acceleration of the vesting period and any outstanding charge is recognised in profit immediately. Property, plant and equipment The Group’s policy is to write off the difference between the cost of each item of Property, plant and equipment and its residual value over its estimated useful life on a straight-line basis. Assets under construction are not depreciated. Reviews are made annually of the estimated remaining lives and residual values of individual productive assets, taking account of commercial and technological obsolescence as well as normal wear and tear. It is impractical to calculate average asset lives exactly. However, the total lives range from approximately 10 to 50 years for buildings, and three to 15 years for plant and equipment. All items of Property, plant and equipment are te

Revenue

Revenue	12 Months Ended
	Dec. 31, 2019
Revenue
Revenue	1 Revenue Product Sales Emerging Rest of Emerging Rest of Emerging Rest of Markets US Europe World Total Markets US Europe World Total Markets US Europe World Total $m $m $m $m $m $m $m $m $m $m $m $m $m $m $m Oncology: Tagrisso 762 1,268 474 685 3,189 347 869 314 330 1,860 135 405 187 228 955 Imfinzi 30 1,041 179 219 1,469 6 564 27 36 633 – 19 – – 19 Lynparza 133 626 287 152 1,198 51 345 190 61 647 18 141 130 8 297 Calquence 2 162 – – 164 – 62 – – 62 – 3 – – 3 Faslodex 198 328 229 137 892 154 537 221 116 1,028 115 492 256 78 941 Zoladex 492 7 135 179 813 409 8 133 202 752 353 15 141 226 735 Iressa 286 17 70 50 423 286 26 109 97 518 251 39 112 126 528 Arimidex 152 – 28 45 225 132 – 31 49 212 118 7 34 58 217 Casodex 127 – 16 57 200 113 1 20 67 201 108 (1) 22 86 215 Others 29 – 5 60 94 30 – 8 77 115 28 – 3 83 114 2,211 3,449 1,423 1,584 8,667 1,528 2,412 1,053 1,035 6,028 1,126 1,120 885 893 4,024 Cardiovascular, Renal and Metabolism: Farxiga 471 537 373 162 1,543 336 591 315 149 1,391 232 489 242 111 1,074 Brilinta 462 710 351 58 1,581 326 588 348 59 1,321 224 509 295 51 1,079 Bydureon 11 459 66 13 549 8 475 81 20 584 9 458 88 19 574 Onglyza 176 230 70 51 527 172 223 89 59 543 130 320 104 57 611 Byetta 12 68 19 11 110 8 74 29 15 126 12 114 34 16 176 Other Diabetes 1 40 9 2 52 (1) 34 5 1 39 1 52 – – 53 Lokelma – 13 1 – 14 – – – – – – – – – – Crestor 806 104 148 220 1,278 841 170 203 219 1,433 784 373 666 542 2,365 Seloken/Toprol-XL 686 37 25 12 760 641 39 19 13 712 593 37 52 13 695 Atacand 160 12 30 19 221 157 13 70 20 260 178 19 86 17 300 Others 193 (1) 59 20 271 207 (1) 71 24 301 204 – 92 43 339 2,978 2,209 1,151 568 6,906 2,695 2,206 1,230 579 6,710 2,367 2,371 1,659 869 7,266 Respiratory: Symbicort 547 829 678 441 2,495 495 862 773 431 2,561 439 1,099 819 446 2,803 Pulmicort 1,190 110 81 85 1,466 995 116 90 85 1,286 840 156 92 88 1,176 Fasenra 5 482 118 99 704 1 218 32 46 297 – 1 – – 1 Daliresp/Daxas 4 184 26 1 215 5 155 28 1 189 4 167 26 1 198 Duaklir 1 3 71 2 77 1 – 91 3 95 – – 77 2 79 Bevespi – 42 – – 42 – 33 – – 33 – 16 – – 16 Breztri – – – 2 2 – – – – – – – – – – Others 240 3 133 14 390 147 32 215 56 450 105 70 202 56 433 1,987 1,653 1,107 644 5,391 1,644 1,416 1,229 622 4,911 1,388 1,509 1,216 593 4,706 Other: Nexium 748 218 63 454 1,483 690 306 235 471 1,702 684 499 248 521 1,952 Synagis – 46 312 – 358 1 287 377 – 665 – 317 370 – 687 Losec/Prilosec 179 10 49 25 263 161 7 70 34 272 140 11 77 43 271 Seroquel XR /IR 50 34 88 19 191 118 108 107 28 361 151 193 127 37 508 Others 12 128 157 9 306 54 134 158 54 400 293 149 171 125 738 989 436 669 507 2,601 1,024 842 947 587 3,400 1,268 1,169 993 726 4,156 Product Sales 8,165 7,747 4,350 3,303 23,565 6,891 6,876 4,459 2,823 21,049 6,149 6,169 4,753 3,081 20,152 Rebates, chargebacks and returns in the US The major market where estimates are seen as significant is the US and when invoicing Product Sales in the US, we estimate the rebates and chargebacks we expect to pay. The adjustment in respect of prior year net US Product Sales revenue in 2019 was 3.6% (2018: 3.2%; 2017: 8.9%). The most significant of these relate to the Medicaid and state programmes with an adjustment in respect of prior year net US Product Sales revenue in 2019 was 1.3% (2018: 2.6%; 2017: 1.7%) and Managed Care and Medicare was 1.9% (2018: 1.2%; 2017: 3.5%). This demonstrates the level of sensitivity, further meaningful sensitivity is not able to be provided due to the large volume of variables that contribute to the overall rebates, chargebacks, returns and other revenue accruals. Collaboration Revenue $m $m $m Royalty income 62 49 108 Global co-development and commercialisation of Lynparza and selumetinib with MSD 610 790 1,247 Licence agreement for Crestor in Spain with Almirall 39 61 – Co-development and commercialisation of MEDI8897 with Sanofi 34 – 127 Grant of authorised generic rights to various medicines in Japan 19 41 45 Transfer of rights to Zoladex in the US and Canada to TerSera – 35 250 Licence of rights to brodalumab to Valeant and LEO Pharma – – 150 Transfer of rights to anaesthetics medicines to Aspen – – 150 Other collaboration milestones 5 4 87 Other collaboration upfronts – 10 114 Other collaboration revenue 50 51 35 819 1,041 2,313 Substantially all Collaboration Revenue relates to performance obligations satisfied in prior periods.

Operating profit

Operating profit	12 Months Ended
	Dec. 31, 2019
Operating profit
Operating profit	2 Operating profit Operating profit includes the following significant items: Selling, general and administrative costs In 2019, Selling, general and administrative costs includes a credit of $516m (2018: credit of $482m; 2017: charge of $208m) resulting from changes in the fair value of Contingent consideration arising from the acquisition of the diabetes alliance from BMS. These adjustments reflect revised estimates for future sales performance for the products acquired and, as a result, revised estimates for future royalties payable. In 2019, Selling, general and administrative costs also includes a charge of $172m (2018: credit of $113m; 2017: credit of $209m) resulting from changes in estimates of the cash flows arising from the put option over the non-controlling interest in Acerta Pharma. In 2019, Selling, general and administrative costs also includes a charge of $610m (2018: credit of $219m; 2017: charge of $241m) of legal provisions relating to a number of legal proceedings including settlements in various jurisdictions in relation to several marketed products. Further details of impairment charges for 2019, 2018 and 2017 are included in Notes 7 and 10. Other operating income and expense $m $m $m Royalties Income 146 96 132 Amortisation (4) (4) (45) Gains on disposal of intangible assets 1,243 1,885 1,518 Gains on disposal of short-term investments – – 161 Net (losses)/gains on disposal of other non-current assets (21) (8) 24 Impairment of property, plant and equipment – – (78) Legal settlements 1 – 374 – Other income 285 277 286 Other expense (108) (93) (168) Other operating income and expense 1,541 2,527 1,830 1 Primarily driven by a $352m settlement of legal action in Canada in relation to a patent infringement of Losec / Prilosec. Royalty amortisation relates to intangible assets recorded in respect of income streams acquired with MedImmune, and upon the restructuring of a historical joint venture with MSD. Gains on disposal of intangible assets in 2019 includes $515m on disposal of US rights to Synagis to Sobi, $243m on disposal of rights to Losec globally excluding China, Japan, the US and Mexico to Cheplapharm, $181m on disposal of rights to Arimidex and Casodex in Europe and certain additional countries to Juvisé Pharmaceuticals and $213m on disposal of commercialisation rights to Seroquel and Seroquel XR in Europe, Russia, US and Canada to Cheplapharm. As part of the total consideration received in respect of the agreement to sell US rights to Synagis , $150m related to the rights to participate in the future cash flows from the US profits or losses for nirsevimab. This was recognised as a financial liability as the Group has not fully transferred the risks and rewards of the underlying cash flows arising from nirsevimab to Sobi. This liability is presented in Other Payables within Non-current Liabilities. The associated cash flow is presented within Investing Activities as the Group has received the cash in exchange for agreeing to transfer future cash flows relating to an intangible asset. Gains on disposal of intangible assets in 2018 includes $695m on the disposal of Europe rights to Nexium, $527m on the disposal of rights to Seroquel in the UK, China and other international markets, $210m from the sale of rights to Atacand in Europe to Cheplapharm, milestone receipts of $172m from the disposal of the anaesthetics portfolio outside the US to Aspen and $139m from the sale of the global rights to Alvesco, Omnaris and Zetonna to Covis. Gains on disposal of intangible assets in 2017 includes $555m on the disposal of the remaining rights to the global anaesthetics portfolio, $301m on disposal of the Europe rights to Seloken and $193m on disposal of the global rights to Zomig . Restructuring costs The tables below show the costs that have been charged in respect of restructuring programmes by cost category and type. Severance provisions are detailed in Note 21. $m $m $m Cost of sales 73 432 181 Research and development expense 101 94 201 Selling, general and administrative costs 173 181 347 Other operating income and expense – (10) 78 Total charge 347 697 807 $m $m $m Severance costs 137 41 176 Accelerated depreciation and impairment 1 (67) 259 141 Other 277 397 490 Total charge 347 697 807 1 See Note 7 on page 188. Other costs are those incurred in designing and implementing the Group’s various restructuring initiatives, including costs of decommissioning sites impacted by changes to our global footprint, temporary lease costs during relocation, internal project costs, and external consultancy fees. Included within accelerated depreciation and impairment is a credit relating to the impairment reversal of two manufacturing sites in Colorado, US. Refer to Note 7 for further details. Financial instruments Included within Operating profit are the following net gains and losses on financial instruments: $m $m $m Losses on forward foreign exchange contracts (112) (100) (6) Gains/(losses) on receivables and payables 66 43 (30) Gains on disposal of short-term investments – – 161 Gains on other available for sale investments – – 34 Total (46) (57) 159

Finance income and expense

Finance income and expense	12 Months Ended
	Dec. 31, 2019
Finance income and expense
Finance income and expense	3 Finance income and expense $m $m $m Finance income Returns on fixed deposits and equity securities 1 10 8 Returns on short-term deposits 122 86 62 Fair value gains on debt and interest rate swaps 7 – 4 Discount unwind on other long-term assets 20 6 10 Interest on tax receivables 22 36 29 Total 172 138 113 Finance expense Interest on debt and commercial paper (698) (673) (612) Interest on overdrafts, lease liabilities and other financing costs 1 (74) (68) (52) Net interest on post-employment defined benefit plan net liabilities (Note 22) (53) (52) (49) Net exchange losses (30) (51) (148) Discount unwind on contingent consideration arising from business combinations (Note 20) (356) (416) (402) Discount unwind on other long-term liabilities (213) (154) (245) Fair value losses on debt and interest rate swaps – (2) – Interest on tax payables (8) (3) – Total (1,432) (1,419) (1,508) Net finance expense (1,260) (1,281) (1,395) 1 Comparative figures related to finance leases recognised under IAS 17. Financial instruments Included within finance income and expense are the following net gains and losses on financial instruments: $m $m $m Interest and fair value adjustments in respect of debt designated at fair value through profit or loss, net of derivatives (12) (11) 8 Interest and changes in carrying values of debt designated as hedged items in fair value hedges, net of derivatives (10) (28) (35) Interest and fair value changes on fixed and short-term deposits, equity securities, other derivatives and tax balances 110 96 52 Interest on debt, overdrafts, lease liabilities and commercial paper held at amortised cost (662) (619) (559) Fair value losses of $5m (2018: $13m; 2017: $9m) on interest rate fair value hedging instruments and $8m fair value gains (2018: $10m; 2017: $9m) on the related hedged items have been included within interest and changes in carrying values of debt designated as hedged items, net of derivatives. All fair value hedge relationships were effective during the year. Fair value gain of $4m (2018: loss of $13m; 2017: loss of $10m) on derivatives related to debt instruments designated at fair value through profit or loss and $4m fair value loss (2018: gain of $13m; 2017: gain of $3m) on debt instruments designated at fair value through profit or loss have been included within interest and fair value adjustments in respect of debt designated at fair value through profit or loss, net of derivatives.

Taxation

Taxation	12 Months Ended
	Dec. 31, 2019
Taxation
Taxation	4 Taxation Taxation recognised in the Consolidated Statement of Comprehensive Income is as follows: $m $m $m Current tax expense Current year 1,243 711 665 Adjustment to prior years 66 38 (287) Total 1,309 749 378 Deferred tax expense Origination and reversal of temporary differences (875) (644) (1,113) Adjustment to prior years (113) (162) 94 Total (988) (806) (1,019) Taxation recognised in the profit for the period 321 (57) (641) Taxation relating to components of Other comprehensive income is as follows: $m $m $m Current and deferred tax Items that will not be reclassified to profit or loss: Remeasurement of the defined benefit liability 81 37 24 Share-based payments – – 9 Net (gains)/losses on equity investments measured at fair value through other comprehensive income (60) 30 – Deferred tax (credit)/charge relating to change of tax rates – (11) (17) Total 21 56 16 Items that may be reclassified subsequently to profit or loss: Foreign exchange arising on consolidation 34 69 (79) Foreign exchange arising on designating borrowings in net investment hedges 4 – 14 Net available for sale losses/(gains) recognised in other comprehensive income – – 2 Deferred tax (credit)/charge relating to change of tax rates – (18) 30 Total 38 51 (33) Taxation relating to components of other comprehensive income 59 107 (17) The reported tax rate in the year was 21%. The income tax paid for the year was $1,118m which was 72% of Profit before Tax. Taxation has been provided at current rates on the profits earned for the periods covered by the Group Financial Statements. The 2019 prior period current tax adjustment relates mainly to net increases in provisions for tax contingencies and tax accrual to tax return adjustments. The 2018 and 2017 prior period current tax adjustments relate mainly to net reductions in provisions for tax contingencies and tax accrual to tax return adjustments. The 2019, 2018 and 2017 prior period deferred tax adjustments relate mainly to tax accrual to return adjustments. To the extent that dividends remitted from overseas subsidiaries, joint ventures and associates are expected to result in additional taxes, appropriate amounts have been provided for. No deferred tax has been provided for unremitted earnings of Group companies overseas as these are considered permanently employed in the business of these companies. Unremitted earnings may be liable to overseas taxes and/or UK taxation (after allowing for double tax relief) if distributed as dividends. The aggregate amount of temporary differences associated with investments in subsidiaries and branches for which Deferred tax liabilities have not been recognised totalled approximately $4,902m at 31 December 2019 (2018: $8,144m; 2017: $8,359m). Factors affecting future tax charges As a group with worldwide operations, AstraZeneca is subject to several factors that may affect future tax charges, principally the levels and mix of profitability in different jurisdictions, transfer pricing regulations, tax rates imposed and tax regime reforms. Details of the material tax exposures and items currently under audit, negotiation and review are set out in Note 29. Tax reconciliation to UK statutory rate The table below reconciles the UK statutory tax charge to the Group’s total tax charge/(credit): $m $m $m Profit before tax 1,548 1,993 2,227 Notional taxation charge at UK corporation tax rate of 19% (2018: 19%; 2017: 19.25%) 294 379 429 Differences in effective overseas tax rates (49) 18 (212) Deferred tax charge/(credit) relating to change in tax rates 1 39 (334) (616) Unrecognised deferred tax asset 2 (16) 7 (105) Items not deductible for tax purposes 92 167 203 Items not chargeable for tax purposes (13) (6) (14) Other items 3 21 (164) (133) Adjustments in respect of prior periods 4 (47) (124) (193) Total tax charge/(credit) for the year 321 (57) (641) 1 The 2019 item relates to the increase in the 2019 substantively enacted Dutch Corporate Income Tax rate (debit of $66m) and other (credit of $27m). In 2019, it was substantively enacted that the Dutch Corporate Income Tax rate for the year ended 31 December 2020 increases from 22.55% to 25% and effective 1 January 2021 increases from 20.5% to 21.7%. The 2018 item relates to the 2018 reduction in the Dutch and Swedish Corporate Income Tax rates (credit of $297m) and other (credit of $37m). The 2017 item relates to the reduction in the US Federal Income Tax rate from 35% to 21% effective from 1 January 2018 (credit of $617m) and other (charge of $1m). 2 The 2019 item includes a $27m credit arising on recognition of previously unrecognised deferred tax assets and the 2017 item relates to recognition of previously unrecognised net deferred tax assets. 3 Other items in 2019 relate to a charge of $309m relating to collaboration and divestment activity, a credit of $70m relating to internal transfers of intellectual property and a net credit of $218m relating to the release of tax contingencies following the expiry of the relevant statute of limitations and on the conclusion of tax authority review partially offset by a provision build for transfer pricing and other contingencies. Other items in 2018 relate to a credit of $188m relating to the release of tax contingencies following the expiry of the relevant statute of limitations and on the conclusion of tax authority review partially offset by a provision build for transfer pricing and other contingencies (charge $24m). Other items in 2017 relate to the release of tax contingencies following the expiry of the relevant statute of limitations (credit $178m) partially offset by a provision build for transfer pricing contingencies (charge $45m). 4 Further details explaining the adjustments in respect of prior periods is set out on page 183. AstraZeneca is domiciled in the UK but operates in other countries where the tax rates and laws are different from those in the UK. The impact on differences in effective overseas tax rates on the Group’s overall tax charge is noted above. Profits arising from our manufacturing operation in Puerto Rico are granted special status and are taxed at a reduced rate compared with the normal rate of tax in that territory under a tax incentive grant continuing until 2031. Deferred tax The total movement in the net deferred tax balance in the year was $1,135m. The movements are as follows: Intangibles, Pension and Elimination of Losses and Accrued property, plant post-retirement unrealised profit Untaxed tax credits expenses & equipment 1 benefits on inventory reserves 2 carried forward and other Total $m $m $m $m $m $m $m Net deferred tax balance at 1 January 2017 (5,149) 465 1,014 (697) 1,004 509 (2,854) Income statement 1,393 (8) (231) 159 (128) (166) 1,019 Other comprehensive income (84) 9 – – – 35 (40) Exchange (12) 43 48 (62) 30 22 69 Net deferred tax balance at 31 December 2017 (3,852) 509 831 (600) 906 400 (1,806) Net adjustment to the opening balance of Retained earnings – – – – – 12 12 Income statement 401 (15) 179 (4) 129 116 806 Other comprehensive income 56 26 – – – 31 113 Equity – – – – – 12 12 Exchange 27 (25) (30) 47 (27) (36) (44) Net deferred tax balance at 31 December 2018 (3,368) 495 980 (557) 1,008 535 (907) Income statement 1,055 (9) 312 (63) (480) 173 988 Other comprehensive income 34 79 – – – (30) 83 Equity 3 – – – – – 12 12 Exchange 14 (4) 1 22 18 1 52 Net deferred tax balance at 31 December 2019 4 (2,265) 561 1,293 (598) 546 691 228 1 Includes deferred tax on contingent liabilities in respect of intangibles. 2 Untaxed reserves relate to taxable profits where the tax liability is deferred to later periods. 3 Deferred tax movement on share-based payments recorded through equity. 4 The UK had a net deferred tax asset of $629m as at 31 December 2019, which has been recognised on the basis of sufficient forecast future taxable profits against which the deductible temporary differences can be utilised. The US includes a net deferred tax asset of $136m as at 31 December 2019, which has been recognised on the basis of sufficient forecast future taxable profits against which the deductible temporary differences can be utilised. The net deferred tax balance, before the offset of balances within countries, consists of: Intangibles, Pension and Elimination of Losses and Accrued property, plant post-retirement unrealised profit Untaxed tax credits expenses & equipment benefits on inventory reserves carried forward and other Total $m $m $m $m $m $m $m Deferred tax assets at 31 December 2017 1,226 559 1,011 – 957 885 4,638 Deferred tax liabilities at 31 December 2017 (5,078) (50) (180) (600) (51) (485) (6,444) Net deferred tax balance at 31 December 2017 (3,852) 509 831 (600) 906 400 (1,806) Deferred tax assets at 31 December 2018 1,071 521 1,287 – 1,103 913 4,895 Deferred tax liabilities at 31 December 2018 (4,439) (26) (307) (557) (95) (378) (5,802) Net deferred tax balance at 31 December 2018 (3,368) 495 980 (557) 1,008 535 (907) Deferred tax assets at 31 December 2019 1,091 591 1,543 – 608 959 4,792 Deferred tax liabilities at 31 December 2019 (3,356) (30) (250) (598) (62) (268) (4,564) Net deferred tax balance at 31 December 2019 (2,265) 561 1,293 (598) 546 691 228 Analysed in the Consolidated Statement of Financial Position, after offset of balances within countries, as: $m $m $m Deferred tax assets 2,718 2,379 2,189 Deferred tax liabilities (2,490) (3,286) (3,995) Net deferred tax balance 228 (907) (1,806) Unrecognised deferred tax assets Deferred tax assets (DTA) of $441m (2018: $444m; 2017: $420m) have not been recognised in respect of deductible temporary differences because it is not probable that future taxable profit will be available against which the Group can utilise the benefits therefrom. Temporary Unrecognised Temporary Unrecognised Temporary Unrecognised differences DTA differences DTA differences DTA $m $m $m $m $m $m Trading and capital losses expiring: Within 10 years 33 9 4 1 105 25 More than 10 years 1 – 4 1 4 1 Indefinite 218 62 175 51 88 24 252 71 183 53 197 50 Tax credits and State tax losses expiring: Within 10 years 44 40 32 More than 10 years 259 281 273 Indefinite 67 70 65 370 391 370 Total 441 444 420

Earnings per $0.25 Ordinary Sha

Earnings per $0.25 Ordinary Share	12 Months Ended
	Dec. 31, 2019
Earnings per $0.25 Ordinary Share
Earnings per $0.25 Ordinary Share	5 Earnings per $0.25 Ordinary Share Profit for the year attributable to equity holders ($m) 1,335 2,155 3,001 Basic earnings per Ordinary Share $ $ $ Diluted earnings per Ordinary Share $ $ $ Weighted average number of Ordinary Shares in issue for basic earnings (millions) 1,301 1,267 1,266 Dilutive impact of share options outstanding (millions) – – 1 Diluted weighted average number of Ordinary Shares in issue (millions) 1,301 1,267 1,267 The earnings figures used in the calculations above are post-tax.

Segment information

Segment information	12 Months Ended
	Dec. 31, 2019
Segment information
Segment information	6 Segment information During 2019 a reorganisation of the Group’s R&D units responsible for discovery through to late-stage development was completed, resulting in an R&D unit for BioPharmaceuticals (CVRM and Respiratory) and one for Oncology. Additionally, there was a change in the structure of the Group’s commercial units, creating a new BioPharmaceutical unit to add to the existing Oncology Unit. These units align product strategy and commercial delivery across the US, Europe and Canada (EUCAN) and sharpened focus on these main therapy areas. The structure of our international commercial organisation remained unchanged, with separate units for Japan and International including China, covering all Therapy Areas. As a result of the reorganisation completed during 2019, the Group has reviewed its assessment of reportable segments under IFRS 8 ‘Operating Segments’ and concluded that the Group continues to have one reportable segment. This determination is considered to be a Key Judgement, and this judgement has been taken with reference to the following factors: 1 The level of integration across the different functions of the Group’s pharmaceutical business: AstraZeneca is engaged in a single business activity of pharmaceuticals and the Group does not have multiple discrete operating components. AstraZeneca’s pharmaceuticals business consists of the discovery and development of new products, which are then manufactured, marketed and sold. All of these functional activities take place (and are managed) globally on a highly integrated basis. These individual functional areas are not managed separately. 2 The identification of the Chief Operating Decision Maker (CODM) and the nature and extent of the financial information reviewed by the CODM: The SET, established and chaired by the CEO, is the vehicle through which he exercises the authority delegated to him from the Board for the management, development and performance of our business. It is considered that the SET is AstraZeneca’s chief operating decision making body (as defined in IFRS 8). The operation of the SET is principally driven by the management of the Commercial operations, R&D, manufacturing and supply. All significant operating decisions are taken by the SET. While members of the SET have responsibility for implementation of decisions in their respective areas, operating decision making is at SET level as a whole. Where necessary, these are implemented through cross-functional sub-committees that consider the Group-wide impact of a new decision. For example, product launch decisions would be initially considered by the SET and, on approval, passed to an appropriate sub team for implementation. The impacts of being able to develop, produce, deliver and commercialise a wide range of pharmaceutical products drive the SET decision making process. In assessing performance, the SET reviews financial information on an integrated basis for the Group as a whole, substantially in the form of, and on the same basis as, the Group’s IFRS Financial Statements. The high upfront cost of discovering and developing new products coupled with the relatively insignificant and stable unit cost of production means that there is not the clear link that exists in many manufacturing businesses between the revenue generated on an individual product sale and the associated cost and hence margin generated on a product. Consequently, the profitability of individual drugs or classes of drugs is not considered a key measure of performance for the business and is not monitored by the SET. The focus of additional financial information reviewed is at brand sales level within specific geographies. Expenditure analysis is completed for the science units, operations and enabling functions, there is no allocation of these centrally managed group costs to the individual product brands. SET members’ variable remuneration continues to be derived from the Group scorecard outcome. 3 How resources are allocated: Resources are allocated on a Group-wide basis according to need. In particular, capital expenditure, in-licensing, and R&D resources are allocated between activities on merit, based on overall therapeutic considerations and strategy under the aegis of the Group’s Early Stage Portfolio Committee and Late Stage Portfolio Committee. Geographic areas The following table shows information for Total Revenue by geographic area and material countries. The additional tables show the Operating profit and Profit before tax made by companies located in that area, together with segment assets, segment assets acquired, net operating assets, and Property, plant and equipment owned by the same companies; export sales and the related profit are included in the area/country where the legal entity resides and from which those sales were made. Total Revenue $m $m $m UK 1,822 2,390 3,240 Continental Europe France 578 617 701 Germany 704 592 541 Italy 396 426 514 Spain 359 396 447 Sweden 834 477 842 Others 1,291 1,312 1,512 4,162 3,820 4,557 The Americas Canada 466 483 482 US 8,047 7,240 6,666 Others 814 806 809 9,327 8,529 7,957 Asia, Africa & Australasia Australia 266 313 377 China 4,867 3,778 2,955 Japan 2,522 1,952 2,172 Others 1,418 1,308 1,207 9,073 7,351 6,711 Total Revenue 24,384 22,090 22,465 Total Revenue outside of the UK totalled $22,562m for the year ended 31 December 2019 (2018: $19,700m; 2017: $19,225m). Operating profit/(loss) Profit/(loss) before tax $m $m $m $m $m $m UK 466 (66) (694) 93 (514) (1,146) Continental Europe 1,502 3,671 2,482 1,006 3,179 1,918 The Americas (8) (757) 1,242 (474) (1,171) 822 Asia, Africa & Australasia 964 539 647 923 499 633 Continuing operations 2,924 3,387 3,677 1,548 1,993 2,227 Non-current assets 1 Total assets $m $m $m $m $m $m UK 6,778 4,828 5,371 15,302 13,573 12,842 Continental Europe 15,220 14,529 16,305 18,182 17,119 18,962 The Americas 19,513 22,191 24,811 23,380 26,381 28,180 Asia, Africa & Australasia 1,235 976 1,024 4,513 3,578 3,370 Continuing operations 42,746 42,524 47,511 61,377 60,651 63,354 Assets acquired 2 Net operating assets 3 $m $m $m $m $m $m UK 2,255 556 400 4,206 3,471 3,351 Continental Europe 386 530 629 9,201 8,913 10,228 The Americas 236 356 585 15,929 18,598 20,339 Asia, Africa & Australasia 120 105 138 1,432 1,037 1,198 Continuing operations 2,997 1,547 1,752 30,768 32,019 35,116 1 Non-current assets exclude Deferred tax assets and Derivative financial instruments. 2 Included in Assets acquired are those assets that are expected to be used during more than one period (Property, plant and equipment, Goodwill and Intangible   assets). 3 Net operating assets exclude short-term investments, cash, short-term borrowings, loans, Derivative financial instruments, retirement benefit obligations and non-operating receivables and payables. Property, plant and equipment $m $m $m UK 1,920 1,605 1,455 Sweden 1,488 1,456 1,508 US 2,758 2,844 3,055 Rest of the world 1,522 1,516 1,597 Continuing operations 7,688 7,421 7,615 Geographic markets The table below shows Product Sales in each geographic market in which customers are located. $m $m $m UK 458 469 489 Continental Europe 3,891 4,388 4,712 The Americas 9,032 8,177 7,467 Asia, Africa & Australasia 10,184 8,015 7,484 Continuing operations 23,565 21,049 20,152 Product Sales are recognised when control of the goods has been transferred to a third party. In general this is upon delivery of the products to wholesalers. One wholesaler (2018: one; 2017: zero) individually represented greater than 10% of Product Sales. The value of these transactions recorded as Product Sales were $3,078m (2018: $2,704m; 2017: n/a).

Property, plant and equipment

Property, plant and equipment	12 Months Ended
	Dec. 31, 2019
Property, plant and equipment
Property, plant and equipment	7 Property, plant and equipment Assets in Total property, Land and Plant and course of plant and buildings equipment construction equipment $m $m $m $m Cost At 1 January 2017 4,616 6,543 2,292 13,451 Capital expenditure 39 198 1,074 1,311 Transfer of assets into use 525 567 (1,092) – Disposals and other movements (367) (577) – (944) Exchange adjustments 210 452 159 821 At 31 December 2017 5,023 7,183 2,433 14,639 Capital expenditure 25 99 910 1,034 Transfer of assets into use 429 594 (1,023) – Disposals and other movements 50 (427) (14) (391) Exchange adjustments (161) (353) (129) (643) At 31 December 2018 5,366 7,096 2,177 14,639 Capital expenditure 8 48 940 996 Transfer of assets into use 403 620 (1,023) – Disposals and other movements (236) (324) (11) (571) Exchange adjustments (9) (57) 3 (63) At 31 December 2019 5,532 7,383 2,086 15,001 Depreciation At 1 January 2017 2,092 4,511 – 6,603 Charge for year 182 442 – 624 Impairment 78 – – 78 Disposals and other movements (249) (501) – (750) Exchange adjustments 128 341 – 469 At 31 December 2017 2,231 4,793 – 7,024 Charge for year 202 412 – 614 Impairment 150 98 43 291 Disposals and other movements 10 (336) (43) (369) Exchange adjustments (89) (253) – (342) At 31 December 2018 2,504 4,714 – 7,218 Charge for year 209 438 – 647 Impairment (67) 14 – (53) Disposals and other movements (120) (313) – (433) Exchange adjustments (21) (45) – (66) At 31 December 2019 2,505 4,808 – 7,313 Net book value At 31 December 2017 2,792 2,390 2,433 7,615 At 31 December 2018 2,862 2,382 2,177 7,421 At 31 December 2019 3,027 2,575 2,086 7,688 Impairment charges in 2019 were recognised for Land and buildings and Plant and equipment as a result of the announcement of the closure of the Wedel manufacturing site and the cessation of specific operations in Algeria. These charges have been recognised in Cost of sales. An impairment reversal recognised of $23m in relation to the Longmont, Colorado manufacturing site (sold in March 2019) and the Boulder, Colorado manufacturing site of $70m (offer accepted in November 2019, subject to completion of due diligence and other closing conditions), which more than offset the impairment charges of $26m. Included within other movements in 2019 is a transfer of $70m from Land and buildings to Assets held for sale in relation to the Boulder manufacturing site. $m $m $m The net book value of land and buildings comprised: Freeholds 2,657 2,567 2,514 Leaseholds 370 295 278

Leases

Leases	12 Months Ended
	Dec. 31, 2019
Leases
Leases	8 Leases Right-of-use assets Total right- Land and Motor of-use buildings vehicles Other assets $m $m $m $m Cost At 1 January 2019 – – – – Opening balance 580 124 18 722 Additions 85 85 3 173 Disposals and other movements (44) (7) 1 (50) Exchange adjustments 6 – – 6 At 31 December 2019 627 202 22 851 Depreciation At 1 January 2019 – – – – Charge for year 130 70 7 207 Impairment 4 – – 4 Disposals and other movements (3) (6) 1 (8) Exchange adjustments 1 – – 1 At 31 December 2019 132 64 8 204 Net book value At 31 December 2019 495 138 14 647 Lease Liability $m $m $m The present value of lease liabilities is as follows: Within one year 188 – – Later than one year and not later than five years 368 – – Later than five years 119 – – Total lease liabilities 675 – – In prior periods, the Group only recognised lease assets and lease liabilities in relation to leases that were classified as ‘finance leases’ under IAS 17 ‘Leases’. The assets were presented within property, plant and equipment and the liabilities within interest bearing loans and borrowings. For adjustments recognised on adoption of IFRS 16 on 1 January 2019, please refer to the Group Accounting Policies section. The interest expense on lease liabilities included within finance costs was $22m. The expense relating to short-term leases was $1m. The expense relating to leases of low-value assets that are not shown above as short-term leases was $1m. The expense relating to variable lease payments not included in lease liabilities was $nil. Income recognised from subleasing was $4m. The total cash outflow for leases in 2019 was $208m. Prior to adoption of IFRS 16 on 1 January 2019, total rentals under operating leases charged to profit were as follows: $m $m Operating leases 188 175 In 2018, the Group revised the presentation of operating leases from 2017 to include operating leases identified during the transition to IFRS 16 as having previously been omitted from this disclosure. This resulted in an increase in 2017 from $137m to $175m. Prior to adoption of IFRS 16 on 1 January 2019, the future minimum lease payments under operating leases that had an initial or remaining term in excess of one year at 31 December 2019 were as follows: $m $m Not later than one year 188 151 Later than one year and not later than five years 360 345 Later than five years 136 118 Total future minimum lease payments 684 614 In 2018, the Group revised the presentation of operating leases from 2017 to include operating leases identified during the transitions to IFRS 16 as having previously been omitted from this disclosure. This resulted in an increase in 2017 from $523m to $614m.

Goodwill

Goodwill	12 Months Ended
	Dec. 31, 2019
Goodwill.
Goodwill	9 Goodwill $m $m $m Cost At 1 January 12,022 12,143 11,969 Additions through business combinations – – – Exchange and other adjustments (40) (121) 174 At 31 December 11,982 12,022 12,143 Amortisation and impairment losses At 1 January 315 318 311 Exchange and other adjustments (1) (3) 7 At 31 December 314 315 318 Net book value At 31 December 11,668 11,707 11,825 Goodwill is tested for impairment at the operating segment level, this being the level at which goodwill is monitored for internal management purposes. As detailed in Note 6, the Group does not have multiple operating segments and is engaged in a single business activity of pharmaceuticals. Recoverable amount is determined on a fair value less costs to sell basis using the market value of the Company’s outstanding Ordinary Shares. Our market capitalisation is compared to the book value of the Group’s net assets and this indicates a significant surplus at 31 December 2019 (and 31 December 2018 and 31 December 2017). No goodwill impairment was identified.

Intangible assets

Intangible assets	12 Months Ended
	Dec. 31, 2019
Intangible assets
Intangible assets	10 Intangible assets Product, Software marketing and Other development distribution rights intangibles costs Total $m $m $m $m Cost At 1 January 2017 41,603 2,580 1,828 46,011 Additions – separately acquired 397 7 37 441 Disposals (249) (67) (62) (378) Exchange and other adjustments 1,162 116 108 1,386 At 31 December 2017 42,913 2,636 1,911 47,460 Additions – separately acquired 476 – 37 513 Transferred to assets held for sale (Note 18) (2,486) – – (2,486) Disposals (630) – (16) (646) Exchange and other adjustments (1,137) (110) (93) (1,340) At 31 December 2018 39,136 2,526 1,839 43,501 Additions – separately acquired 1,835 99 67 2,001 Disposals (35) – (151) (186) Exchange and other adjustments (282) 24 26 (232) At 31 December 2019 40,654 2,649 1,781 45,084 Amortisation and impairment losses At 1 January 2017 15,095 1,836 1,494 18,425 Amortisation for year 1,627 118 84 1,829 Impairment 488 – 3 491 Disposals (19) – (52) (71) Exchange and other adjustments 467 50 81 598 At 31 December 2017 17,658 2,004 1,610 21,272 Amortisation for year 2,016 69 80 2,165 Impairment 683 – – 683 Transferred to assets held for sale (Note 18) (1,504) – – (1,504) Disposals (294) – (13) (307) Exchange and other adjustments (652) (38) (77) (767) At 31 December 2018 17,907 2,035 1,600 21,542 Amortisation for year 1,808 52 68 1,928 Impairment 1,031 – 2 1,033 Disposals (29) – (147) (176) Exchange and other adjustments (112) 10 26 (76) At 31 December 2019 20,605 2,097 1,549 24,251 Net book value At 31 December 2017 25,255 632 301 26,188 At 31 December 2018 21,229 491 239 21,959 At 31 December 2019 20,049 552 232 20,833 Other intangibles consist mainly of research and device technologies. Amortisation charges are recognised in profit as follows: Product, Software marketing and Other development distribution rights intangibles costs Total $m $m $m $m Year ended 31 December 2017 Cost of sales 149 – – 149 Research and development expense – 43 – 43 Selling, general and administrative costs 1,478 30 84 1,592 Other operating income and expense – 45 – 45 Total 1,627 118 84 1,829 Year ended 31 December 2018 Cost of sales 187 – – 187 Research and development expense – 33 – 33 Selling, general and administrative costs 1,829 32 80 1,941 Other operating income and expense – 4 – 4 Total 2,016 69 80 2,165 Year ended 31 December 2019 Cost of sales 87 – – 87 Research and development expense – 29 – 29 Selling, general and administrative costs 1,721 19 68 1,808 Other operating income and expense – 4 – 4 Total 1,808 52 68 1,928 Impairment charges are recognised in profit as follows: Product, Software marketing and Other development distribution rights intangibles costs Total $m $m $m $m Year ended 31 December 2017 Research and development expense 101 – – 101 Selling, general and administrative costs 387 – 3 390 Total 488 – 3 491 Year ended 31 December 2018 Research and development expense 539 – – 539 Selling, general and administrative costs 144 – – 144 Total 683 – – 683 Year ended 31 December 2019 Research and development expense 609 – – 609 Selling, general and administrative costs 425 – 2 427 Other operating income and expense (3) – – (3) Total 1,031 – 2 1,033 Impairment charges and reversals Intangible assets under development and not available for use are tested annually for impairment and other intangible assets are tested when there is an indication of impairment. If such indication exists, the recoverable amount of the assets is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of an individual asset, the Group estimates the recoverable amount of the CGU to which it belongs. The Group considers that as the intangible assets are linked to individual products and that product cash flows are considered to be largely independent of other product cash flows, that this results in the CGU for intangibles being at the product level. An asset’s recoverable amount is determined as the higher of an asset’s or CGU’s fair value less costs to sell or value in use, in both cases using discounted cash flow calculations where the products’ expected post-tax cash flows are risk-adjusted over their estimated remaining useful economic life. The projections are covered by internal budgets and forecasts. The risk-adjusted cash flows are discounted using AstraZeneca’s post-tax weighted average cost of capital (7% for 2019, 2018 and 2017). This has been assessed to be an appropriate rate for a market participant under the fair value less cost to sell model. There is no material difference in the approach taken to using pre-tax cashflows and a pre-tax rate compared to post-tax cashflows and a post-tax rate, as required by IAS 36. We also use 7% as the discount rate in determining the fair value less costs to sell. The estimates used in calculating the recoverable amount are considered significant estimates, highly sensitive and depend on assumptions specific to the nature of the Group’s activities including: > outcome of R&D activities > probability of technical and regulatory success > market volume, share and pricing (to derive peak year sales) > amount and timing of projected future cash flows > sales erosion curves following patent expiry. For assets held at fair value less costs to sell, we make appropriate adjustments to reflect market participant assessments. In 2019, the Group recorded impairment charges of $425m in respect of launched products Bydureon ($154m, revised carrying amount of $747m) under value in use model, Qtern ($89m, revised carrying amount of $233m) under value in use model, Eklira/Tudorza ($84m, revised carrying amount of $192m) under value in use model, FluMist ($52m, revised carrying amount of $172m) under fair value less costs to sell (Level 3 in fair value hierarchy, the recoverable value of the assets is sensitive to patient demand and access, ultimately translating to sales from key markets such as the US and Europe) and $46m relating to other launched products. As these assets have been impaired in the current year, there is no headroom in the recoverable amount calculation and they are inherently sensitive to any variations in assumptions, which could give rise to future impairments. If revenue projections for Bydureon were to fall by 10% over the forecast period, this would result in a further impairment charge of $102m. Impairment charges recorded against products in development related to Epanova ($533m) and other intangible assets ($76m) In 2018, the Group recorded impairment charges of $144m in respect of launched products Eklira/Tudorza ($114m, revised carrying value of $396m) and Movantik ($30m, revised carrying value of $59m). Impairment charges recorded against products in development related to MEDI0680 ($470m) and other intangible assets ($95m). In 2017, the Group recorded an impairment charge of $491m in respect of launched products Byetta ($92m, revised carrying value of $407m), FluMist ($121m, revised carrying value of $267m) and Movantik ($174m, revised carrying value of $106m). Impairment charges recorded against products in development related to tralokinumab ($53m) and other intangible assets ($51m). The impairments recorded on launched products were a consequence of revised market volume, share and price assumptions. Impairments recorded on products in development were a consequence of failed or poor performing trials, with the individual assets being fully impaired. When launched products, such as the ones detailed above, are partially impaired, the carrying values of these assets in future periods are particularly sensitive to changes in forecast assumptions, including those assumptions set out above, as the asset is impaired down to its recoverable amount. Assets that are particularly sensitive to variations in valuation assumptions include Ardea (carrying value of $1,172m). The Ardea valuation is particularly sensitive to variations in the probability of technical and regulatory success (PTRS) assumptions. Sensitivities performed at the year end on the Ardea asset included reducing the PTRS by five percentage points. Applying this sensitivity would result in an impairment charge against the Ardea intangible asset of approximately $70m. The Group has performed an assessment on assets which have had impairments recorded in previous periods to determine if any reversals of impairments were required and no material reversals were identified. Were the useful economic lives to be adjusted to reduce them all by one year the net book value would be reduced by $303m, if useful economic lives to be extended by one year the net book value would increase by $201m. Significant assets Carrying value Remaining amortisation $m period Intangible assets arising from the acquisition of Acerta Pharma 6,263 13 years Intangible assets arising from the acquisition of ZS Pharma 2,794 13 years Farxiga / Forxiga intangible assets acquired from BMS 980 7 years Intangible assets arising from the acquisition of Ardea 1 1,172 Not amortised Intangible assets arising from the restructuring of a historical joint venture with MSD 928 2 to 11 years RSV franchise assets arising from the acquisition of MedImmune 917 6 years Bydureon intangible assets acquired from BMS 747 11 years Intangible assets arising from the acquisition of Pearl Therapeutics 748 9 to 11 years Other diabetes intangible assets acquired from BMS 507 3 to 6 years Onglyza intangible assets acquired from BMS 566 4 years Respiratory intangible assets acquired from Almirall and Actavis 706 7 to 19 years Intangible assets acquired from Daiichi Sankyo 1 1,709 Not amortised Roxadustat intangible assets acquired from FibroGen 1 340 Not amortised 1 Assets in development are not amortised but are tested annually for impairment. In assessing whether the intangible assets and associated processes acquired from Daiichi Sankyo were a business, we determined that they were not at a stage of readiness to be able to obtain regulatory approval and manufacture and commercialise at scale, the transaction was treated as an asset acquisition.

Investments in associates and j

Investments in associates and joint ventures	12 Months Ended
	Dec. 31, 2019
Investments in associates and joint ventures
Investments in associates and joint ventures	11 Investments in associates and joint ventures $m $m $m At 1 January 89 103 99 Additions 74 187 76 Share of after tax losses (116) (113) (55) Unrecognised profit on transactions with joint ventures – (64) (27) Exchange and other adjustments 11 (24) 10 At 31 December 58 89 103 On 23 February 2018, AstraZeneca entered into an agreement with a consortium of investors to form a new, US domiciled standalone company called Viela Bio. This agreement was to divest a number of assets in MedImmune’s non-core inflammation and autoimmunity portfolio to Viela, including MEDI-551, which is an advanced Phase IIb/III asset, and a number of other clinical and pre-clinical assets. AstraZeneca contributed $142m in initial funds and held an initial 45% interest in the joint venture. Consideration was $142m and a restricted disposal gain of $63m was recognised in Other operating income in 2018. Viela Bio completed an IPO on 7 October 2019 with AstraZeneca investing $8m. After the IPO, AstraZeneca’s holding was reduced to 29% with two members on a board size of eight. Given the shareholding and board representation, the investment continues to be treated as an associate. During the year the Group provided transitional research and development services to Viela Bio, comprising $13m (2018: $9m) of services provided directly by the Group and $24m (2018: $20m) of passed through third party costs incurred by the Group on behalf of Viela Bio. At the end of the year the Group had an outstanding unsecured receivable of $6m (2018: $6m) settleable in cases on customary terms against which no credit loss provision has been made. On 27 November 2017, AstraZeneca entered into a joint venture agreement with Chinese Future Industry Investment Fund (FIIF), to discover, develop and commercialise potential new medicines to help meet unmet medical needs globally, and to bring innovative new medicines to patients in China faster. The agreement resulted in the formation of a joint venture entity based in China, Dizal (Jiangsu) Pharmaceutical Co., Limited. AstraZeneca contributed $55m in initial funds and has a 48% interest in the joint venture. The joint venture entity purchased exclusive rights from AstraZeneca in 2017 to develop and commercialise three potential medicines currently in pre-clinical development in the areas of oncology, cardiovascular and metabolic diseases, and respiratory, resulting in a disposal gain of $28m for AstraZeneca recognised in Other operating income. An additional contribution of $25m was made in 2019. On 1 December 2015, AstraZeneca entered into a joint venture agreement with Fujifilm Kyowa Kirin Biologics Co., Ltd. to develop a biosimilar using the combined capabilities of the two parties. The agreement resulted in the formation of a joint venture entity based in the UK, Centus Biotherapeutics Limited. AstraZeneca contributed $45m in cash to the joint venture entity and has a 50% interest in the joint venture. Additional contributions were made of $10m in 2016, $20m in 2017, $27m in 2018 and a further $20m in 2019. On 30 April 2014, AstraZeneca entered into a joint venture agreement with Samsung Biologics Co., Ltd. to develop a biosimilar using the combined capabilities of the two parties. The agreement resulted in the formation of a joint venture entity based in the UK, Archigen Biotech Limited, with a branch in South Korea. AstraZeneca contributed $70m in cash to the joint venture entity and has a 50% interest in the joint venture. An additional contribution of $30m was made in 2016, $15m in 2018 and a further $16m in 2019. At the end of the year Archigen had net assets of $5m, of which AstraZeneca’s share is $2m, and the investment is held at $nil value. All investments are accounted for using the equity method. Aggregated summarised financial information for the associate and joint venture entities is set out below: $m $m $m Non-current assets 298 260 207 Current assets 447 233 158 Total liabilities (89) (71) (41) Net assets 656 422 324 Amount attributable to AstraZeneca 64 104 117 Exchange adjustments (6) (15) (14) Carrying value of investments in associate and joint ventures 58 89 103

Other investments

Other investments	12 Months Ended
	Dec. 31, 2019
Other investments
Other investments	12 Other investments $m $m $m Non-current investments Equity securities at fair value through other comprehensive income 1,339 833 – Equity securities available for sale – – 933 Fixed income securities at fair value through profit and loss 62 – – Total 1,401 833 933 Current investments Fixed income securities at fair value through profit and loss 811 809 – Fixed income securities available for sale – – 1,150 Fixed deposits 38 40 80 Total 849 849 1,230 Investments classified as available for sale in 2017 under IAS 39 have been reclassified in 2018 on adoption of IFRS 9 on 1 January 2018, as either at fair value through Other comprehensive income or at fair value through profit and loss. Other investments classified as at fair value through Other comprehensive income and at fair value through profit and loss (IFRS 9) Other investments held at fair value through Other comprehensive income include equity securities which are not held for trading and which the Group has irrevocably elected at initial recognition to recognise in this category. Other investments held at fair value through profit and loss comprise fixed income securities that the Group holds to sell. The fair value of listed investments is based on year end quoted market prices. Fixed deposits are held at amortised cost with carrying value being a reasonable approximation of fair value given their short-term nature. Other investments previously classified as available for sale in 2017 (IAS 39) Impairment charges of $14m in respect of available for sale equity securities were included in Other operating income and expense in 2017. Equity and fixed income securities available for sale were held at fair value until reclassification. Fair value hierarchy The table below analyses equity securities and bonds, contained within Other investments and carried at fair value, by valuation method. The different levels have been defined as follows: > Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities > Level 2: inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices) > Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs). FVPL FVOCI FVPL FVOCI AFS $m $m $m $m $m Level 1 873 1,112 809 667 1,408 Level 2 – – – – – Level 3 – 227 – 166 675 Total 873 1,339 809 833 2,083 Equity securities that are analysed at Level 3 include investments in private biotech companies. In the absence of specific market data, these unlisted investments are held at fair value calculated by taking costs and adjusting as necessary for impairments and revaluations on new funding rounds, which approximates to fair value. Movements in Level 3 investments are detailed below: FVOCI FVOCI AFS $m $m $m At 1 January 166 675 641 Additions 5 79 53 Revaluations 56 (147) (1) Transfers out 2 (434) (12) Disposals (5) (6) (15) Impairments and exchange adjustments 3 (1) 9 At 31 December 227 166 675 Assets are transferred in or out of Level 3 on the date of the event or change in circumstances that caused the transfer.

Derivative financial instrument

Derivative financial instruments	12 Months Ended
	Dec. 31, 2019
Derivative financial instruments
Derivative financial instruments	13 Derivative financial instruments Non-current Current Current Non-current assets assets liabilities liabilities Total $m $m $m $m $m Interest rate swaps designated in a fair value hedge – – (3) – (3) Interest rate swaps related to instruments designated at fair value through profit and loss 53 – – – 53 Cross currency swaps designated in a net investment hedge 223 12 – (4) 231 Cross currency swaps designated in a cash flow hedge 197 – – – 197 Cross currency swaps designated in a fair value hedge 1 31 – – – 31 Other derivatives – 16 (21) – (5) 31 December 2017 504 28 (24) (4) 504 Non-current Current Current Non-current assets assets liabilities liabilities Total $m $m $m $m $m Interest rate swaps related to instruments designated at fair value through profit and loss 40 – – – 40 Cross currency swaps designated in a net investment hedge – 213 – (4) 209 Cross currency swaps designated in a cash flow hedge 101 – – – 101 Cross currency swaps designated in a fair value hedge 1 16 – – – 16 Other derivatives – 45 (27) – 18 31 December 2018 157 258 (27) (4) 384 Non-current Current Current Non-current assets assets liabilities liabilities Total $m $m $m $m $m Interest rate swaps related to instruments designated at fair value through profit and loss 43 – – – 43 Cross currency swaps designated in a net investment hedge 4 – – (1) 3 Cross currency swaps designated in a cash flow hedge 4 – – (17) (13) Cross currency swaps designated in a fair value hedge 1 10 – – – 10 Other derivatives – 36 (36) – – 31 December 2019 61 36 (36) (18) 43 1 Cross currency swaps designated in a fair value hedge refers to a cross currency interest rate swap that hedges a designated euro 300m portion of our euro 750m 0.875% 2021 non-callable bond against exposure to movements in the euro:US dollar exchange rate. All derivatives are held at fair value and fall within Level 2 of the fair value hierarchy as defined in Note 12. None of the derivatives have been reclassified in the year. The fair value of interest rate swaps and cross currency swaps is estimated using appropriate zero coupon curve valuation techniques to discount future contractual cash flows based on rates at the current year end. The fair value of forward foreign exchange contracts and currency options are estimated by cash flow accounting models using appropriate yield curves based on market forward foreign exchange rates at the year end. The majority of forward foreign exchange contracts for existing transactions had maturities of less than one month from year end. The interest rates used to discount future cash flows for fair value adjustments, where applicable, are based on market swap curves at the reporting date, and were as follows: Derivatives (0.5) % to 2.7 % (0.4) % to 3.2 % 1.7 % to 2.2 %

Non-current other receivables

Non-current other receivables	12 Months Ended
	Dec. 31, 2019
Non-current other receivables
Non-current other receivables	14 Non-current other receivables $m $m $m Prepayments 392 461 702 Accrued income 10 – – Other receivables 338 54 145 Non-current other receivables 740 515 847 Non-current other receivables include $125m (2018: $146m; 2017: $178m) of prepayments in relation to our research collaboration with Moderna, $118m (2018: $nil; 2017: $nil) of outstanding receivables relating to the out-licence of Duaklir and Tudorza to Circassia in 2017 and $53m (2018: $nil; 2017: $nil) owed by FibroGen for promotion activity in China pursuant to the roxadustat collaboration. The previous year balance included a prepayment of $114m (2017: $181m) which represented the long-term element of minimum contractual royalties payable to Shionogi under the global licence agreement for Crestor , which was renegotiated in December 2013. The resulting modified royalty structure, which included fixed minimum and maximum payments in years until 2020, resulted in the Group recognising liabilities, and corresponding prepayments, for the discounted value of total minimum payments. At 31 December 2019 the prepayment is reported in amounts due within one year (see Note 16).

Inventories

Inventories	12 Months Ended
	Dec. 31, 2019
Inventories
Inventories	15 Inventories $m $m $m Raw materials and consumables 830 794 1,024 Inventories in process 1,272 1,450 1,208 Finished goods and goods for resale 1,091 646 803 Inventories 3,193 2,890 3,035 The Group recognised $2,708m (2018: $2,659m; 2017: $2,493m) of inventories as an expense within cost of sales during the year. Inventory write-offs in the year amounted to $231m (2018: $208m; 2017: $109m).

Current trade and other receiva

Current trade and other receivables	12 Months Ended
	Dec. 31, 2019
Current trade and other receivables
Current trade and other receivables	16 Current trade and other receivables $m $m $m Amounts due within one year Trade receivables 3,606 3,033 2,818 Less: Amounts provided for doubtful debts (Note 27) (21) (38) (16) 3,585 2,995 2,802 Other receivables 1,083 1,143 793 Prepayments 865 871 971 Accrued income 228 492 177 5,761 5,501 4,743 Amounts due after more than one year Other receivables – – 156 Prepayments – 73 110 – 73 266 Trade and other receivables 5,761 5,574 5,009 Trade receivables includes $892m (2018: $724m; 2017: $327m) measured at FVOCI classified ‘hold to collect and sell’ as they are due from customers that the Group has the option to factor. All financial assets included within current Trade and other receivables are held at amortised cost with carrying value being a reasonable approximation of fair value.

Cash and cash equivalents

Cash and cash equivalents	12 Months Ended
	Dec. 31, 2019
Cash and cash equivalents.
Cash and cash equivalents	17 Cash and cash equivalents $m $m $m Cash at bank and in hand 755 893 784 Short-term deposits 4,614 3,938 2,540 Cash and cash equivalents 5,369 4,831 3,324 Unsecured bank overdrafts (146) (160) (152) Cash and cash equivalents in the cash flow statement 5,223 4,671 3,172 The Group holds $1m (2018: $86m; 2017: $93m) of Cash and cash equivalents which is required to meet insurance solvency, capital and security requirements. Under IAS 39 all cash and cash equivalents were held at amortised cost with fair value approximating to carrying value. Following the adoption of IFRS 9 ‘Financial Instruments’ on 1 January 2018 US Dollar liquidity balances included in Cash and cash equivalents were reclassified from amortised cost to fair value through profit and loss. During 2018 AstraZeneca was invested in constant net asset value funds with same day access for subscription and redemption. These investments fail the ‘solely payments of principal and interest’ test criteria under IFRS 9. They are therefore measured at fair value through profit and loss, although the fair value will be materially the same as amortised cost. The balances reclassified on 1 January 2018 was $1,150m, at 31 December 2019 $4,186m (2018: $3,498m) was measured at fair value through profit and loss. Non-cash and other movements, within operating activities in the Consolidated Statement of Cash Flows, includes: $m $m $m Gains on disposal of short-term investments – – (161) Net gains/(losses) on disposal of non-current assets 21 8 (24) Changes in fair value of put option (Acerta Pharma) 172 (113) (209) Share-based payments charge for period 259 219 220 Settlement of share plan awards (323) (212) (254) Pension contributions (175) (174) (157) Pension charges recorded in operating profit 59 128 74 Long-term provision charges recorded in operating profit 506 63 36 Foreign exchange and other (141) (209) (49) Total operating activities non-cash and other movements 378 (290) (524)

Assets held for sale

Assets held for sale	12 Months Ended
	Dec. 31, 2019
Assets held for sale
Assets held for sale	18 Assets held for sale Assets held for sale of $70m (2018: $982m; 2017: $nil) comprising tangible assets relating to the Boulder Manufacturing Centre. AstraZeneca signed a letter of intent on 27 November 2019 to sell the facility to AGC Bio, with both parties agreeing to close the transaction before the end of the first quarter 2020, subject to the completion of due diligence. In 2018, Assets held for sale of $982m comprised intangible assets relating to the US rights to RSV franchise assets (specifically Synagis) arising from the acquisition of MedImmune and to US rights to certain respiratory assets acquired from Almirall and Actavis (including Tudorza). In both cases, a partial transfer was made from the respective intangible assets based on the relative values of the portion being disposed of and the portion retained. AstraZeneca agreed to dispose of the US rights to Synagis to Sobi on 13 November 2018 with completion of the transaction subject to certain contingencies. The transaction closed and control of the assets transferred on 23 January 2019. In December 2018, Circassia exercised an option right to acquire the remaining rights to Tudorza in the US, which was previously part of a strategic collaboration between the two companies. The transaction closed on 1 January 2019.

Interest-bearing loans and borr

Interest-bearing loans and borrowings	12 Months Ended
	Dec. 31, 2019
Interest-bearing loans and borrowings
Interest-bearing loans and borrowings	19 Interest-bearing loans and borrowings Repayment dates $m $m $m Current liabilities Bank overdrafts On demand 146 160 152 Other short-term borrowings excluding overdrafts 8 – – Bank collateral 1 71 384 513 Lease liabilities 2 188 – 5 Floating rate notes US dollars 2018 – – 399 1.75% Callable bond US dollars 2018 – – 998 1.95% Callable bond US dollars 2019 – 999 – 2.375% Callable bond US dollars 2020 1,597 – – Other loans (Commercial paper) Within one year – 211 180 Total 2,010 1,754 2,247 Non-current liabilities Lease liabilities 2 487 – – 1.95% Callable bond US dollars 2019 – – 999 2.375% Callable bond US dollars 2020 – 1,594 1,591 0.875% Non-callable bond euros 2021 837 854 890 0.25% Callable bond euros 2021 559 570 594 Floating rate notes US dollars 2022 250 250 249 2.375% Callable bond US dollars 2022 996 994 992 7% Guaranteed debentures US dollars 2023 335 325 347 Floating rate notes US dollars 2023 400 400 – 3.5% Callable bond US dollars 2023 846 845 – 0.75% Callable bond euros 2024 1,003 1,022 1,067 3.375% Callable bond US dollars 2025 1,983 1,980 1,978 3.125% Callable bond US dollars 2027 743 743 742 1.25% Callable bond euros 2028 885 903 941 4% Callable bond US dollars 2029 992 992 – 5.75% Non-callable bond pounds sterling 2031 457 443 468 6.45% Callable bond US dollars 2037 2,721 2,721 2,720 4% Callable bond US dollars 2042 987 987 987 4.375% Callable bond US dollars 2045 980 979 979 4.375% Callable bond US dollars 2048 737 736 – Other loans US dollars 19 21 16 Total 16,217 17,359 15,560 Total interest-bearing loans and borrowings 3, 4 18,227 19,113 17,807 1. In 2017, the Group changed its accounting policy such that collateral receipts were included in interest-bearing loans and borrowings. Previously, these were included in short-term deposits. 2. Comparative figures related to finance leases recognised under IAS 17. 3. All loans and borrowings above are unsecured. 4. The floating rate bonds which will be repaid beyond 2021 will be impacted by the change in Libor reference rates. Total Total loans and loans and borrowings borrowings $m $m At 1 January 19,113 17,807 Adoption of new accounting standards – Lease liabilities 720 – Changes from financing cash flows Issue of loans 500 2,971 Repayment of loans (1,500) (1,400) Movement in short-term borrowings (516) (98) Repayment of lease liabilities (186) – Total changes in cashflows arising on financing activities (1,702) 1,473 Movement in overdrafts (13) 8 New lease liabilities 173 – Exchange (62) (177) Other movements (2) 2 At 31 December 18,227 19,113 Set out below is a comparison by category of carrying values and fair values of all the Group’s interest-bearing loans and borrowings: Instruments in a Instruments Instruments Total fair value hedge designated designated in Amortised carrying Fair relationship 1 at fair value 2 cash flow hedge cost value value $m $m $m $m $m $m 2017 Overdrafts – – – 152 152 152 Finance leases due within one year 3 – – – 5 5 5 Loans due within one year 596 – – 1,494 2,090 2,092 Loans due after more than one year 304 347 2,602 12,307 15,560 17,031 Total at 31 December 2017 900 347 2,602 13,958 17,807 19,280 2018 Overdrafts – – – 160 160 160 Finance leases due within one year 3 – – – – – – Loans due within one year – – – 1,594 1,594 1,587 Loans due after more than one year 346 325 2,495 14,193 17,359 17,841 Total at 31 December 2018 346 325 2,495 15,947 19,113 19,588 2019 Overdrafts – – – 146 146 146 Lease liabilities due within one year – – – 188 188 188 Lease liabilities due after more than one year – – – 487 487 487 Loans due within one year – – – 1,676 1,676 1,684 Loans due after more than one year 339 335 2,447 12,609 15,730 18,044 Total at 31 December 2019 339 335 2,447 15,106 18,227 20,549 1 Instruments designated as hedged items in a fair value hedge relationship relate to a designated euro 300m portion of our euro 750m 0.875% 2021 non-callable bond. The accumulated amount of fair value hedge adjustments to the bond is a loss of $11m. 2 Instruments designated at fair value through profit or loss include the US dollar 7% guaranteed debentures repayable in 2023. 3 Comparative figures relate to finance leases recognised under IAS 17. The fair value of fixed-rate publicly traded debt is based on year end quoted market prices; the fair value of floating rate debt is nominal value, as mark to market differences would be minimal given the frequency of resets. The carrying value of loans designated at fair value through profit or loss is the fair value; this falls within the Level 1 valuation method as defined in Note 12. For loans designated in a fair value hedge relationship, carrying value is initially measured at fair value and remeasured for fair value changes in respect of the hedged risk at each reporting date. All other loans are held at amortised cost. Fair values, as disclosed in the table above, are all determined using the Level 1 valuation method as defined in Note 12, with the exception of overdrafts and lease liabilities, where fair value approximates to carrying values. A loss of $5m was made during the year on the fair value of bonds designated at fair value through profit or loss, due to decreased credit risk. A gain of $30m has been made on these bonds since designation due to increased credit risk. Under IFRS 9, the Group records the component of fair value changes relating to the component of own credit risk through Other comprehensive income. Changes in credit risk had no material effect on any other financial assets and liabilities recognised at fair value in the Group Financial Statements. The change in fair value attributable to changes in credit risk is calculated as the change in fair value not attributable to market risk. The amount payable at maturity on bonds designated at fair value through profit or loss is $287m. The interest rates used to discount future cash flows for fair value adjustments, where applicable, are based on market swap curves at the reporting date, and were as follows: Loans and borrowings (0.5) % to 1.6 % (0.4) % to 2.4 % (0.4) % to 2.0 %

Trade and other payables

Trade and other payables	12 Months Ended
	Dec. 31, 2019
Trade and other payables
Trade and other payables	20 Trade and other payables $m $m $m Current liabilities Trade payables 1,774 1,720 2,285 Value-added and payroll taxes and social security 323 204 243 Rebates, chargebacks, returns and other revenue accruals 4,410 4,043 3,264 Clinical trial accruals 736 993 922 Other accruals 4,026 3,951 3,324 Collaboration revenue contract liabilities 28 92 – Contingent consideration 897 867 555 Other payables 1,793 971 1,048 Total 13,987 12,841 11,641 Non-current liabilities Accruals 34 7 143 Collaboration revenue contract liabilities 50 78 – Contingent consideration 3,242 4,239 4,979 Acerta Pharma put option liability (Note 26) 2,146 1,838 1,823 Other payables 819 608 895 Total 6,291 6,770 7,840 The Group revised the presentation of Trade and other payables in 2018 to separately present clinical trial accruals, returns and other revenue accruals that have historically been presented within Trade payables (see the Group Accounting policies section from page 172). The Group has also separately presented the Acerta put option that has historically been presented within Other payables. Included within Rebates, chargebacks, returns and other revenue accruals are contract liabilities of $97m (2018: $126m; 1 January 2018: $138m). The revenue recognised in the year for contract liabilities is $123m, comprising $95m relating to other revenue accruals and $28m Collaboration Revenue contract liabilities. The most significant of these markets where these are seen relates to the US where the provision at 31 December 2019 amounted to $3,383m (2018: $3,266m; 2017: $2,826m). Trade payables includes $492m (2018: $166m; 2017: $64m) due to suppliers that have signed up to a supply chain financing programme, under which the suppliers can elect on an invoice-by-invoice basis to receive a discounted early payment from the partner bank rather than being paid in line with the agreed payment terms. If the option is taken the Group’s liability is assigned by the supplier to be due to the partner bank rather than the supplier. The value of the liability payable by the Group remains unchanged. The Group assesses the arrangement against indicators to assess if debts which vendors have sold to the funder under the supplier financing scheme continue to meet the definition of trade payables or should be classified as borrowings. At 31 December 2019 the payables met the criteria of Trade payables. Included within Other payables due in under one year are liabilities to Daiichi Sankyo totalling $795m (2018: $nil; 2017: $nil) resulting from the collaboration agreement in relation to Enhertu entered into in March 2019. Additionally, included within Other payable due in greater than one year are liabilities totalling $241m (2018: $nil; 2017: $nil) as a result of this collaboration agreement. The terms of the Acerta Pharma put option were modified during 2019 and the carrying value of the associated liability has been remeasured based on the latest assessment of the expected timing and amount of redemption, with the remeasurement taken to Selling, general and administrative costs (see Note 2). Interest arising from amortising the liability is included within Finance Expense (see Note 3). Under the modified terms, the redemption amount is fixed, however, there is uncertainty as to timing of exercise, which may vary dependent on the regulatory outcomes of Calquence . The remeasurement of this liability has resulted in an increase (2018: decrease; 2017: decrease) in the liability for the year before the effect of interest costs. On exercise of the put option, the associated cash flows will be disclosed as financing activities with the Consolidated Statement of Cash Flows. The Group adopted IFRS 15 ‘Revenue from Contracts with Customers’ from 1 January 2018 under the modified retrospective method. Consequently, the Group has presented Collaboration revenue contract liabilities prospectively from that date. With the exception of Contingent consideration payables of $4,139m (2018: $5,106m; 2017: $5,534m) which are held at fair value within Level 3 of the fair value hierarchy as defined in Note 12, all other financial liabilities are held at amortised cost with carrying value being a reasonable approximation of fair value. Contingent consideration $m $m $m At 1 January 5,106 5,534 5,457 Settlements (709) (349) (434) Revaluations (614) (495) 109 Discount unwind (Note 3) 356 416 402 At 31 December 4,139 5,106 5,534 Contingent consideration arising from business combinations is fair valued using decision-tree analysis, with key inputs including the probability of success, consideration of potential delays and the expected levels of future revenues. Revaluations of Contingent consideration are recognised in Selling, general and administrative costs and include a decrease of $516m in 2019 (2018: a decrease of $482m; 2017: an increase of $208m) based on revised milestone probabilities, and revenue and royalty forecasts, relating to the acquisition of BMS’s share of the Global Diabetes Alliance. Discount unwind on the liability is included within Finance expense (see Note 3). The discount rate used for the Contingent consideration balances range from 7% to 9%. The most significant Contingent consideration balance is the Global Diabetes Alliance and this is discounted at 8%. Management has identified that reasonably possible changes in certain key assumptions, including the likelihood of achieving successful trial results, obtaining regulatory approval, the projected market share of the therapy area and expected pricing for launched products, may cause the calculated fair value of the above contingent consideration to vary materially in future years. The contingent consideration balance relating to BMS’s share of Global Diabetes Alliance of $3,300m (2018: $3,983m; 2017: $4,477m) would increase/decrease by $330m with an increase/decrease in sales of 10% as compared with the current estimates. The maximum development and sales milestones payable under outstanding contingent consideration arrangements arising on business combinations are as follows: Nature of Maximum future milestones Acquisitions Year contingent consideration $m Spirogen Milestones 198 Amplimmune Milestones 200 Omthera Milestones 120 Pearl Therapeutics Milestones 290 BMS’s share of Global Diabetes Alliance 1 Milestones and royalties 600 Almirall 1 Milestones and royalties 450 Definiens 1 Milestones 150 1 These contingent consideration liabilities have been designated as the hedge instrument in a net investment hedge of foreign currency risk arising on the Group’s underlying US dollar net investments held in non-US dollar denominated subsidiaries. Exchange differences on the retranslation of the contingent consideration liability are recognised in Other comprehensive income to the extent that the hedge is effective. Any ineffectiveness is taken to profit. The amount of royalties payable under the arrangements is inherently uncertain and difficult to predict, given the direct link to future sales and the range of outcomes. The maximum amount of royalties payable in each year is with reference to net sales.

Provisions

Provisions	12 Months Ended
	Dec. 31, 2019
Provisions.
Provisions	21 Provisions Employee Other Severance Environmental benefits Legal provisions Total $m $m $m $m $m $m At 1 January 2017 487 59 143 438 291 1,418 Charge for year 225 11 30 281 55 602 Cash paid (324) (20) (43) (48) (37) (472) Reversals (75) – (10) (40) (44) (169) Exchange and other movements 45 9 6 23 6 89 At 31 December 2017 358 59 126 654 271 1,468 Charge for year 94 65 1 11 30 201 Cash paid (152) (24) (9) (232) (28) (445) Reversals (58) – – (230) (28) (316) Exchange and other movements (16) (3) 1 (5) 6 (17) At 31 December 2018 226 97 119 198 251 891 Charge for year 158 31 18 618 236 1,061 Cash paid (115) (39) (13) (147) (24) (338) Reversals (30) (1) – (28) (17) (76) Exchange and other movements 2 8 6 1 9 26 At 31 December 2019 241 96 130 642 455 1,564 $m $m $m Due within one year 723 506 1,121 Due after more than one year 841 385 347 Total 1,564 891 1,468 AstraZeneca is undergoing a global restructuring initiative which involves rationalisation of the global supply chain, the sales and marketing organisation, IT and business support infrastructure, and R&D. Employee costs in connection with the initiatives are recognised in severance provisions. Final severance costs are often subject to the completion of the requisite consultations on the areas impacted. AstraZeneca endeavours to support employees affected by restructuring initiatives to seek alternative roles within the organisation. Where the employee is successful any severance provisions will be released. Details of the environmental and legal provisions are provided in Note 29. The legal issues are often subject to substantial uncertainties with regard to the timing and final amounts of any payments, as such, once established these provisions remain in provisions until settlement is reached and uncertainty resolved, with no transfer to Trade and other payables prior to payment. A significant proportion of the total legal provision relates to matters settled in either the current or previous periods. These uncertainties can also cause reversal in previously established provisions once final settlement is reached. Employee benefit provisions include the Deferred Bonus Plan. Further details are included in Note 28. Other provisions comprise amounts relating to specific contractual or constructive obligations and disputes, the majority of other provisions relates to amounts associated with long-standing product liability settlements that arose prior to the merger of Astra and Zeneca, given the nature of the provision the amounts are expected to be settled over many years. No provision has been released or applied for any purpose other than that for which it was established.

Post-retirement benefits

Post-retirement benefits	12 Months Ended
	Dec. 31, 2019
Post-retirement benefits
Post-retirement benefits	22 Post-retirement benefits Background The Company and most of its subsidiaries offer retirement plans which cover the majority of employees in the Group. The Group’s policy is to provide defined contribution (DC) orientated pension provision to its employees unless otherwise compelled by local regulation. As a result, many of these retirement plans are DC, where the Group contribution and resulting charge is fixed at a set level or is a set percentage of employees’ pay. However, several plans, mainly in the UK, the US and Sweden, are defined benefit (DB), where benefits are based on employees’ length of service and linked to their salary. The major defined benefit plans are now largely legacy arrangements as they have been closed to new entrants since 2000, apart from the collectively bargained Swedish plan (which is still open to employees born before 1979). During 2010, following consultation with its UK employees’ representatives, the Group introduced a freeze on pensionable pay at 30 June 2010 levels for defined benefit members of the UK Pension Fund. The number of active members in the Fund continues to decline and is now 643 employees. In November 2017, the Group closed the qualified and non-qualified US defined benefit pension plans to future accrual (and removed any salary link) from 31 December 2017. The major defined benefit plans are funded through separate, fiduciary-administered assets. The cash funding of the plans, which may from time to time involve special Group payments, is designed, in consultation with independent qualified actuaries, to ensure that the assets are sufficient to meet future obligations as and when they fall due. The funding level is monitored rigorously by the Group and local fiduciaries, taking into account: the Group’s credit rating; local regulation; cash flows; and the solvency and maturity of the relevant pension scheme. Financing principles Ninety one per cent of the Group’s total defined benefit obligations (or eighty per cent of net obligations) at 31 December 2019 are in schemes within the UK, the US and Sweden. In these countries, the pension obligations are funded in line with the Group’s financing principles. There were no fundamental changes to these principles during 2019. The Group believes: > in funding the benefits it promises to employees and meeting its obligations > that the pension arrangements should be considered in the context of its broader capital structure. In general, it does not believe in committing excessive capital for funding when the Group might use the capital elsewhere to reinvest in the wider business, nor does it wish to generate surpluses > in taking some measured and rewarded risks with the investments underlying the funding, subject to a long-term plan to reduce those risks when opportunities arise > that holding certain investments may cause volatility in the funding position. However, the Group would not wish to amend its contribution level for relatively small deviations in funding level, because it is expected that there will be short-term volatility, but it is prepared to react appropriately to more significant deviations > that proactive engagement with local Fiduciary Bodies is necessary and helpful to provide robust oversight and input in relation to funding and investment strategy and to facilitate liability management exercises appropriate to each pension plan > in considering the use of alternative methods of providing security that do not require immediate cash funding but help mitigate exposure of the pension arrangement to the credit risk of the Group. These principles are appropriate at the present date but they are kept under ongoing review and should circumstances change, these principles may also be subject to change. The Group has developed a long-term funding framework to implement these principles, which targets full funding on a low-risk funding measure over the long term as the pension funds mature, with affordable long-term de-risking of investment strategy. Unless local regulation dictates otherwise, this framework determines the cash contributions payable to the pension funds. A key element of this funding framework is the investment strategy used to grow existing assets and hedge against changes in liability values. The Group provides regular input to local fiduciary boards with the aim of ensuring that an appropriate investment return is targeted over the long term in a risk-controlled manner. UK The UK defined benefit pension fund represents approximately 61% of the Group’s defined benefit obligations at 31 December 2019. The financing principles are modified in light of the UK regulatory requirements (summarised below) and resulting discussions with the Pension Fund Trustee. Role of Trustees and Regulation The UK Pension Fund is governed and administered by a corporate Trustee which is legally separate from the Group. The Trustee Directors are comprised of representatives appointed by both the employer and employees and include an independent professional Trustee Director. The Trustee Directors are required by law to act in the interest of all relevant beneficiaries and are responsible in particular for the asset investment policy and the day-to-day administration of the benefits. They are also responsible for jointly agreeing with the employer the level of contributions due to the UK Pension Fund (see below). The UK pensions market is regulated by The Pensions Regulator whose statutory objectives and regulatory powers are described on its website, www.thepensionsregulator.gov.uk. Funding requirements UK legislation requires that pension schemes are funded prudently. On a triennial basis, the Trustee and the Group must agree the contributions required (if any) to ensure the Fund is fully funded over an appropriate time-period and on a suitably prudent measure. The actuarial valuation as at 31 March 2019 is currently in progress with a likely timescale for completion in early to mid-2020. Certain aspects of the actuarial valuation discussions are governed by a long-term funding agreement, signed in October 2016 with the Trustee and which sets out a path to full funding on a low-risk measure. Furthermore, under this agreement, if a deficit exists, the Group will grant a charge in favour of the Trustee over certain land and buildings on the Cambridge Biomedical Campus, effective upon practical completion of the site, or from 2021 (whichever is earlier). This charge would crystallise only in the event of the Group’s insolvency. This charge will provide long term security in respect of future UK Pension Fund contributions and will be worth up to £350m. In relation to deficit recovery contributions, a lump sum contribution of £51m ($65m) was made in March 2019, with a further £51m contribution due before 31 March 2020. In addition, a contribution of £27m ($35m) was made in March 2019, with a further contribution of £28m due before 31 March 2020, in relation to part payment of the deferred contribution explained below. During 2017, the Group provided a letter of credit to the Trustee, to underwrite the deferral of an additional deficit recovery contribution of approximately £126m which was due in 2017. This contribution will be paid in five instalments (with interest added each year) from March 2018 to March 2022 and to date, two instalments have been paid. The letter of credit underwriting these payments will reduce in value as each annual payment is made. Under the funding assumptions used to set the statutory funding target, the key assumptions from the actuarial valuation as at 31 March 2016 were as follows: long-term UK price inflation set at 2.6% per annum; salary increases at 0% per annum (as a result of pensionable pay levels being frozen in 2010); pension increases at 2.85% per annum; and discount rate at 3.71% per annum. The resulting valuation of the Fund’s liabilities on that basis were £5,265m ($6,915m) compared to a market value of assets at 31 March 2016 of £4,492m ($5,899m). Under the governing documentation of the UK Pension Fund, any future surplus in the Fund would be returnable to the Group by refund assuming gradual settlement of the liabilities over the lifetime of the Fund. As such, there are no adjustments required in respect of IFRIC 14 ‘IAS 19 – The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction’. Changes to GMP A UK High Court judgment was issued on 26 October 2018 relating to an element of pension benefits known as Guaranteed Minimum Pensions (GMP). The ruling requires the equalisation of member benefits earned between 1990 and 1997 to address gender inequality in instances where GMP benefits are currently unequal. While there remains some uncertainty, the Group made a provision in 2018 for the estimated financial impact of this ruling on the UK Pension Fund, based on a comparison of the cumulative value of members’ benefits with the benefits of a notional member of the opposite gender (method C2 under the terminology of the High Court judgment). The estimated impact is based on the broad profile of the Fund (i.e. age profile, service profile and GMP proportion) and a past service cost of £17m ($23m) was recognised in the year ended 31 December 2018. Discussions between the Trustee and the Company are ongoing to determine the exact impact. Any subsequent adjustments to the original impact provision will be taken to Other comprehensive income. Separate to this, following a review of the UK Pension Fund’s administrative practice and Fund Rules, a decision was made in July 2019 to change the way in which GMP is calculated. This change applies to all future pension payments from November 2019. A past service net credit of £38m ($49m) has been recognised in respect of these changes for the year ended 31 December 2019. United States and Sweden The IAS 19 positions for the US and Sweden as at 31 December 2019 are shown below. Note that for the post-retirement benefit disclosure for 2019 and for the 2018 comparatives, we have split out the table disclosure for the United States and Sweden from Rest of Group, to provide further information on the larger Group schemes. The US plan and the Sweden plan account for 13% and 17% respectively of the Group’s defined benefit obligations. The US and Sweden pension funds are governed by Fiduciary Bodies with responsibility for the investment policies of those funds. These plans are funded in line with the Group’s financing principles and contributions are paid as prescribed by the long-term funding framework (subject to local regulations being met). The US defined benefit pension plans were actuarially revalued at 31 December 2019, when plan obligations were $1,592m and plan assets were $1,506m. This includes obligations in respect of the non-qualified plan which is unfunded. The qualified US pension plan remains close to full funding on an IAS 19 basis and has a positive funding balance on the local statutory measure. As such, no contributions are required, and the investment strategy is largely de-risked. The Swedish defined benefit pension plans were actuarially valued at 31 December 2019, when plan obligations were estimated to amount to $2,160m and plan assets were $1,123m. It should be noted that the Swedish plans have a funding surplus on the local GAAP accounting basis and this influences contribution policy. On current bases, it is expected that ongoing contributions (excluding those in respect of past service deficit contributions) during the year ending 31 December 2020 for the three main countries will be approximately $31m. Post-retirement benefits other than pensions In the US, and to a lesser extent in certain other countries, the Group’s employment practices include the provision of healthcare and life assurance benefits for retired employees. As at 31 December 2019, some 3,087 retired employees and covered dependants currently benefit from these provisions and some 2,007 current employees will be eligible on their retirement. The Group accrues for the present value of such retiree obligations over the working life of the employee. In practice, these benefits will be funded with reference to the financing principles. The cost of post-retirement benefits other than pensions for the Group in 2019 was $3m (2018: $5m; 2017: $14m). Plan assets were $252m and plan obligations were $252m at 31 December 2019. These benefit plans have been included in the disclosure of post-retirement benefits under IAS 19. Financial assumptions Qualified independent actuaries have updated the actuarial valuations under IAS 19 for the major defined benefit schemes operated by the Group to 31 December 2019. The assumptions used may not necessarily be borne out in practice, due to the inherent financial and demographic uncertainty associated with making long-term projections. These assumptions reflect the changes which have the most material impact on the results of the Group and were as follows: 2018 UK US Sweden Rest of Group 4 Inflation assumption 3.2 % – 1.9 % 1.7 % Rate of increase in salaries – 1 – 3.4 % 2.5 % Rate of increase in pensions in payment 3.0 % – 1.9 % 1.7 % Discount rate – defined benefit obligation 2.8 % 4.3 % 2.4 % 1.8 % Discount rate – interest cost 2.4 % 3.3 % 2.2 % 1.5 % Discount rate – service cost 2.5 % 3.3 % 2.8 % 1.9 % UK US Sweden Rest of Group 4 Inflation assumption 3.0 % – 1.8 % 1.5 % Rate of increase in salaries – 1 – 3.3 % 2.3 % Rate of increase in pensions in payment 2.8 % – 1.8 % 1.5 % Discount rate – defined benefit obligation 2.0 % 2 3.2 % 1.5 % 1.3 % Discount rate – interest cost 2.7 % 3 3.9 % 2.0 % 1.6 % Discount rate – service cost 2.8 % 3 4.0 % 2.5 % 1.9 % 1 Pensionable pay frozen at 30 June 2010 levels following UK fund changes. 2 Group defined benefit obligation as at 31 December 2019 calculated using discount rates based on market conditions as at 31 December 2019. 3 2019 interest costs and service costs calculated using discount rates based on market conditions as at 31 December 2018. 4 Rest of Group reflects the assumptions in Germany as these have the most material impact on the Group. The weighted average duration of the post-retirement scheme obligations is 16 years in the UK, 9 years in the US, 20 years in Sweden and 20 years for the rest of the Group. Demographic assumptions The mortality assumptions are based on country-specific mortality tables. These are compared to actual experience and adjusted where sufficient data are available. Additional allowance for future improvements in life expectancy is included for all major schemes where there is credible data to support a continuing trend. The table below illustrates life expectancy assumptions at age 65 for male and female members retiring in 2019 and male and female members expected to retire in 2039 (2018: 2018 and 2038 respectively). Life expectancy assumption for a male member retiring at age 65 Life expectancy assumption for a female member retiring at age 65 Country UK 22.4 23.7 23.2 24.7 23.7 25.0 24.0 25.5 US 22.0 24.9 22.2 22.8 23.4 26.6 23.7 26.8 Sweden 21.9 23.6 21.9 23.6 24.5 25.6 24.5 25.6 In the UK, the Group adopted the CMI 2018 Mortality Projections Model with a 1% long-term improvement rate in 2019 and also updated the early retirement assumption to reflect experience observed as part of the 31 March 2019 triennial valuation. The Group has continued to assume that 30% of members (2018: 30%) will transfer out of the defined benefit section of the AstraZeneca Pension Fund at the point of retirement. The assumption used for the US plans was updated in 2019 to use the mortality tables (Pri-2012 and MP-2019) that were published during the year. Risks associated with the Group’s defined benefit pensions The UK defined benefit plan accounts for 61% of the Group’s defined benefit obligations and exposes the Group to a number of risks, the most significant of which are: Risk Description Mitigation Volatile asset returns The Defined Benefit Obligation (DBO) is calculated using a discount rate set with reference to AA-rated corporate bond yields; asset returns that differ from the discount rate will create an element of volatility in the solvency ratio. The UK Pension Fund holds a significant proportion of assets (around 72.5%) in a growth portfolio. Although these growth assets are expected to outperform AA-rated corporate bonds in the long term, they can lead to volatility and mismatching risk in the short term. The allocation to growth assets is monitored to ensure it remains appropriate given the UK Pension Fund’s long-term objectives. In order to mitigate investment risk, the Trustee invests in a suitably diversified range of asset classes, return drivers and investment managers. The investment strategy will continue to evolve to further improve the expected risk/return profile as opportunities arise. The Trustee has hedged approximately 80% of unintended non-sterling, overseas currency risk within the UK Pension Fund assets. Changes in bond yields A decrease in corporate bond yields will increase the present value placed on the DBO for accounting purposes. The interest rate hedge of the UK Pension Fund is implemented via holding gilts and swaps of appropriate duration and set at approximately 85% of total assets and protects to some degree against falls in long-term interest rates (approximately 85% hedged at the end of 2018). There is a framework in place to gradually increase the level of interest rate hedging to 100% of assets over time, via a combination of liability management exercises and additional market-based hedging. There are some differences in the bonds and instruments held by the UK Pension Fund to hedge interest rate risk on the statutory and long-term funding basis (gilts and swaps) and the bonds analysed to set the DBO discount rate on an accounting basis (AA corporate bonds). As such, there remains some mismatching risk on an accounting basis should yields on gilts and swaps diverge compared to AA corporate bonds. Inflation risk The majority of the DBO is indexed in line with price inflation (mainly inflation as measured by the UK Retail Price Index (RPI) but also for some members a component of pensions is indexed by the UK Consumer Price Index (CPI)) and higher inflation will lead to higher liabilities (although, in most cases, this is capped at an annual increase of 5%). Should changes be made to align RPI with CPI in the future, then other things being equal, this will lead to lower liability valuations. The UK Pension Fund holds RPI index-linked gilts and derivative instruments such as swaps. The inflation hedge of the UK Pension Fund is set at approximately 85% of total assets and protects to some degree against higher-than-expected inflation increases on the DBO (approximately 88% hedged at the end of 2018). There is a framework in place to gradually increase the level of inflation hedging to 100% of assets over time, via a combination of liability management exercises and additional market-based hedging. Life expectancy The majority of the UK Pension Fund’s obligations are to provide benefits for the life of the member, so increases in life expectancy will result in an increase in the liabilities. The UK Pension Fund entered into a longevity swap during 2013 which provides hedging against the longevity risk of increasing life expectancy over the next 75 years for around 10,000 of the UK Pension Fund’s current pensioners and covers $3.1bn of the UK Pension Fund’s liabilities. A one-year increase in life expectancy will result in a $210m increase in pension fund assets. Other risks There are a number of other risks of running the UK Pension Fund including counterparty risks from using derivatives (mitigated by using a diversified range of counterparties of high standing and ensuring positions are collateralised daily). Furthermore, there are operational risks (such as paying out the wrong benefits) and legislative risks (such as the government increasing the burden on companies through new legislation). These are mitigated so far as possible via the governance structure in place which oversees and administers the pension funds. The Group’s pension plans in the US and Sweden also manage these key risks, where they are relevant, in a similar manner, with the local fiduciary bodies investing in a diversified growth portfolio and employing a framework to hedge interest rate risk. Post-retirement scheme deficit The assets and obligations of the defined benefit schemes operated by the Group at 31 December 2019, as calculated in accordance with IAS 19, are shown below. The fair values of the schemes’ assets are not intended to be realised in the short term and may be subject to significant change before they are realised. The present value of the schemes’ obligations is derived from cash flow projections over long periods and is therefore inherently uncertain. Scheme assets UK US Sweden Rest of Group Total Quoted Unquoted Quoted Unquoted Quoted Unquoted Quoted Unquoted Quoted Unquoted Total $m $m $m $m $m $m $m $m $m $m $m Government bonds 1 1,725 – 157 – – – 42 – 1,924 – 1,924 Corporate bonds 2 – – 767 – – – 103 – 870 – 870 Derivatives 3 – (189) – (2) – 147 3 – 3 (44) (41) Investment funds: Listed Equities – 1,197 137 52 – 124 64 14 201 1,387 1,588 Investment funds: Global Macro Hedge 4 – 733 – 72 – 208 – – – 1,013 1,013 Investment funds: Diversified growth/Multi Strategy 4 – 1,712 – 69 – 380 – – – 2,161 2,161 Investment funds: Multi-asset credit 4 – 596 – 38 – 153 – – – 787 787 Cash and cash equivalents 39 176 81 – – 5 – – 120 181 301 Other – – – 8 – – 1 242 1 250 251 Total fair value of scheme assets 5 1,764 4,225 1,142 237 – 1,017 213 256 3,119 5,735 8,854 UK US Sweden Rest of Group Total Quoted Unquoted Quoted Unquoted Quoted Unquoted Quoted Unquoted Quoted Unquoted Total $m $m $m $m $m $m $m $m $m $m $m Government bonds 1 1,749 – 274 – – – 74 – 2,097 – 2,097 Corporate bonds 2 – – 727 – – – 55 – 782 – 782 Derivatives 3 – (354) 3 – – 244 (1) – 2 (110) (108) Investment funds: Listed Equities – 1,474 164 64 – 122 61 – 225 1,660 1,885 Investment funds: Global Macro Hedge 4 – 827 – 73 – 211 – – – 1,111 1,111 Investment funds: Diversified growth/Multi Strategy 4 – 1,861 – 72 – 381 10 – 10 2,314 2,324 Investment funds: Multi-asset credit 4 – 683 – 39 – 162 – – – 884 884 Cash and cash equivalents 55 169 40 44 – 3 – 5 95 221 316 Other – – – 6 – – (1) 309 (1) 315 314 Total fair value of scheme assets 5 1,804 4,660 1,208 298 – 1,123 198 314 3,210 6,395 9,605 1 Predominantly developed markets in nature. 2 Predominantly developed markets in nature and investment grade (AAA−BBB). 3 Includes interest rate swaps, inflation swaps, longevity swap, equity total return swaps and other contracts. More detail is given in the section Risks associated with the Group’s defined benefit pensions on page 204. Valuations are determined by independent third parties. 4 Investment Funds are pooled, commingled vehicles, whereby the pension scheme owns units in the fund, alongside other investors. The pension schemes invest in a number of Investment Funds, including Listed Equities (primarily developed markets with some emerging markets), Multi-asset credit (a range of investment grade and non-investment grade credit), Diversified growth/Multi Strategy (multi-asset exposure both across and within traditional and alternative asset classes), and Global Macro Hedge funds (Discretionary/Fundamental Macro and managed futures). The price of the funds is set by independent administrators/custodians employed by the investment managers and based on the value of the underlying assets held in the fund. Details of pricing methodology is set out within internal control reports provided for each fund. Prices are updated daily, weekly or monthly depending upon the frequency of the fund’s dealing. 5 Included in scheme assets is $nil (2018: $nil) of the Group’s own assets. Scheme obligations UK US Sweden Rest of Group Total $m $m $m $m $m Present value of scheme obligations in respect of: Active membership (751) (460) (638) (370) (2,219) Deferred membership (1,665) (273) (603) (339) (2,880) Pensioners (4,636) (730) (631) (269) (6,266) Total value of scheme obligations (7,052) (1,463) (1,872) (978) (11,365) UK US Sweden Rest of Group Total $m $m $m $m $m Present value of scheme obligations in respect of: Active membership (502) (114) (770) (406) (1,792) Deferred membership (1,760) (715) (704) (381) (3,560) Pensioners (5,318) (763) (686) (293) (7,060) Total value of scheme obligations (7,580) (1,592) (2,160) (1,080) (12,412) Net deficit in the scheme UK US Sweden Rest of Group Total $m $m $m $m $m Total fair value of scheme assets 5,989 1,379 1,017 469 8,854 Total value of scheme obligations (7,052) (1,463) (1,872) (978) (11,365) Deficit in the scheme as recognised in the (1,063) (84) (855) (509) (2,511) UK US Sweden Rest of Group Total $m $m $m $m $m Total fair value of scheme assets 6,464 1,506 1,123 512 9,605 Total value of scheme obligations (7,580) (1,592) (2,160) (1,080) (12,412) Deficit in the scheme as recognised in the (1,116) (86) (1,037) (568) (2,807) Fair value of scheme assets UK US Sweden Rest of Group Total UK US Sweden Rest of Group Total $m $m $m $m $m $m $m $m $m $m At beginning of year 5,989 1,379 1,017 469 8,854 6,749 1,603 1,147 423 9,922 Interest income on scheme assets 159 51 19 7 236 156 50 24 5 235 Expenses (5) – – (1) (6) (5) (1) (10) 2 (14) Actuarial gains/(losses) 294 183 172 47 696 (351) (106) (18) 1 (474) Exchange and other adjustments 207 – (43) (4) 160 (349) (2) (85) 64 (372) Employer contributions 133 14 5 23 175 143 14 10 7 174 Participant contributions 2 – – – 2 2 – – 1 3 Benefits paid (315) (121) (47) (29) (512) (356) (179) (51) (34) (620) Scheme assets’ fair value at end of year 6,464 1,506 1,123 512 9,605 5,989 1,379 1,017 469 8,854 The actual return on the plan assets was a gain of $932m (2018: loss of $239m). Movement in post-retirement scheme obligations UK US Sweden Rest of Group Total UK US Sweden Rest of Group Total $m $m $m $m $m $m $m $m $m $m Present value of obligations in scheme at beginning of year (7,052) (1,463) (1,872) (978) (11,365) (8,032) (1,707) (1,811) (955) (12,505) Current service cost (18) (4) (44) (21) (87) (23) (4) (32) (15) (74) Past service credit/(cost) 34 – (3) 3 34 (34) – (6) – (40) Participant contributions (2) – – – (2) (2) – – (1) (3) Benefits paid 315 121 47 29 512 356 179 51 34 620 Interest expense on post-retirement scheme obligations (186) (55) (33) (15) (289) (185) (53) (36) (13) (287) Actuarial (losses)/gains (435) (191) (328) (106) (1,060) 472 121 (177) 12 428 Exchange and other adjustments (236) – 73 8 (155) 396 1 139 (40) 496 Present value of obligations in scheme at end of year (7,580) (1,592) (2,160) (1,080) (12,412) (7,052) (1,463) (1,872) (978) (11,365) The obligations arise from the following plans: UK US Sweden Rest of Group Total UK US Sweden Rest of Group Total $m $m $m $m $m $m $m $m $m $m Funded – pension schemes (7,561) (1,280) (2,160) (531) (11,532) (7,034) (1,139) (1,872) (479) (10,524) Funded – post-retirement healthcare – (216) – – (216) – (230) – – (230) Unfunded – pension schemes – (96) – (532) (628) – (94) – (483) (577) Unfunded – post-retirement healthcare (19) – – (17) (36) (18) – – (16) (34) Total (7,580) (1,592) (2,160) (1,080) (12,412) (7,052) (1,463) (1,872) (978) (11,365) Consolidated Statement of Comprehensive Income disclosures The amounts that have been charged to the Consolidated Statement of Comprehensive Income, in respect of defined benefit schemes for the year ended 31 December 2019, are set out below. UK US Sweden Rest of Group Total UK US Sweden Rest of Group Total $m $m $m $m $m $m $m $m $m $m Operating profit Current service cost (18) (4) (44) (21) (87) (23) (4) (32) (15) (74) Past service credit/(cost) 34 – (3) 3 34 (34) – (6) – (40) Expenses (5) – – (1) (6) (5) (1) (10) 2 (14) Total charge to Operating profit 11 (4) (47) (19) (59) (62) (5) (48) (13) (128) Finance expense Interest income on scheme assets 159 51 19 7 236 156 50 24 5 235 Interest expense on post-retirement scheme obligations (186) (55) (33) (15) (289) (185) (53) (36) (13) (287) Net interest on post-employment defined benefit plan liabilities (27) (4) (14) (8) (53) (29) (3) (12) (8) (52) Charge before taxation (16) (8) (61) (27) (112) (91) (8) (60) (21) (180) Other comprehensive income Difference between the actual return and the expected return 294 183 172 47 696 (351) (106) (18) 1 (474) Experience gains/(losses) arising on the 39 (30) (10) (5) (6) (26) (35) (17) 6 (72) Changes in financial assumptions underlying the present value (771) (182) (318) (104) (1,375) 389 151 (160) 13 393 Changes in demographic assumptions 297 21 – 3 321 109 5 – (7) 107 Remeasurement of the defined benefit liability (141) (8) (156) (59) (364) 121 15 (195) 13 (46) Past service cost in 2019 includes a credit to Operating profit of $49m arising from changes to the payment of GMP benefits from the UK Pension Fund as referred to on page 202. The past service cost in 2019 also includes costs predominantly related to enhanced pensions in early retirement in the UK and Sweden. Total Group pension costs in respect of defined contribution and defined benefit schemes during the year are set out below (see Note 28). $m $m Defined contribution schemes 432 341 Defined benefit schemes − current service costs and expenses 93 88 Defined benefit schemes − past service costs (34) 40 Pension costs 491 469 Rate sensitivities The following table shows the US dollar effect of a change in the significant actuarial assumptions used to determine the retirement benefits obligations in our three main defined benefit pension obligation countries. +0.5% −0.5% +0.5% −0.5% Discount rate UK ($m) 559 (628) 520 (586) US ($m) 91 (97) 78 (83) Sweden ($m) 183 (211) 152 (174) Total ($m) 833 (936) 750 (843) +0.5% −0.5% +0.5% −0.5% Inflation rate 1 UK ($m) (374) 349 (444) 421 US ($m) – – – – Sweden ($m) (203) 176 (171) 151 Total ($m) (577) 525 (615) 572 +0.5% −0.5% +0.5% −0.5% Rate of increase in salaries UK ($m) – – – – US ($m) – – – – Sweden ($m) (68) 63 (52) 48 Total ($m) (68) 63 (52) 48 +1 year −1 year +1 year −1 year Mortality rate UK ($m) (328) 2 326 3 (301) 302 US ($m) (30) 30 (24) 24 Sweden ($m) (85) 84 (68) 68 Total ($m) (443) 440 (393) 394 1 Rate of increase in pensions in payment follows inflation. 2 Of the $328m increase, $210m is covered by the longevity swap. 3 Of the $326m decrease, $210m is covered by the longevity swap. The sensitivity to the financial assumptions shown above has been estimated taking into account the approximate duration of the liabilities and the overall profile of the plan membership. The sensitivity to the life expectancy assumption has been estimated based on the distribution of the plan cash flows.

Reserves

Reserves	12 Months Ended
	Dec. 31, 2019
Reserves
Reserves	23 Reserves Retained earnings The cumulative amount of goodwill written off directly to reserves resulting from acquisitions, net of disposals, amounted to $614m (2018: $619m; 2017: $631m) using year-end rates of exchange. At 31 December 2019, 907,239 shares, at a cost of $37m, have been deducted from retained earnings (2018: 456,792 shares, at a cost of $22m; 2017: 476,504 shares, at a cost of $22m) to satisfy future vesting of employee share plans. There are no significant statutory or contractual restrictions on the distribution of current profits of subsidiaries; undistributed profits of prior years are, in the main, permanently employed in the businesses of these companies. The undistributed income of AstraZeneca companies overseas might be liable to overseas taxes and/or UK taxation (after allowing for double taxation relief) if they were to be distributed as dividends (see Note 4). $m $m $m Cumulative translation differences included within retained earnings At 1 January (2,007) (1,017) (2,028) Foreign exchange arising on consolidation 40 (450) 536 Exchange adjustments on goodwill (recorded against other reserves) (5) (12) 18 Foreign exchange arising on designating borrowings in net investment hedges 1 (252) (520) 505 Fair value movement on derivatives designated in net investment hedges 35 (8) (48) Net exchange movement in retained earnings (182) (990) 1,011 At 31 December (2,189) (2,007) (1,017) 1. Foreign exchange arising on designated borrowings in net investment hedges includes $(5)m in respect of designated bonds and $(247)m in respect of designated contingent consideration liabilities. The change in value of designated contingent consideration liabilities relates to $(174)m in respect of BMS’ share of Global Diabetes Alliance, $11m in respect of Almirall, $(1)m in respect of Definiens and $(83)m in relation to the put option liability in Acerta Pharma. With effect from 1 January 2018, the Company has disclosed separately the costs of hedging of cross currency interest rate swaps in cash flow hedges and net investment hedges. The cumulative gain with respect to costs of hedging is $nil and the loss during the year was $47m. The balance remaining in the foreign currency translation reserve from net investment hedging relationships for which hedge accounting no longer applied is a gain of $565m. Other reserves The other reserves arose from the cancellation of £1,255m of share premium account by the Company in 1993 and the redenomination of share capital $157m in 1999. The reserves are available for writing off goodwill arising on consolidation and, subject to guarantees given to preserve creditors at the date of the court order, are available for distribution.

Share capital of the Company

Share capital of the Company	12 Months Ended
	Dec. 31, 2019
Share capital of the Company
Share capital of the Company	24 Share capital of the Company Allotted, called-up and fully paid $m $m $m Issued Ordinary Shares ($0.25 each) 328 317 317 Redeemable Preference Shares (£1 each – £50,000) – – – At 31 December 328 317 317 The Redeemable Preference Shares carry limited class voting rights and no dividend rights. This class of shares is capable of redemption at par at the option of the Company on the giving of seven days’ written notice to the registered holder of the shares. The Company does not have a limited amount of authorised share capital. The movements in the number of Ordinary Shares during the year can be summarised as follows: No. of shares At 1 January 1,267,039,436 1,266,221,605 1,265,229,424 Issue of shares (share placing) 44,386,214 – – Issue of shares (share schemes) 712,326 817,831 992,181 At 31 December 1,312,137,976 1,267,039,436 1,266,221,605 Share issue On 2 April 2019, the Company issued 44,386,214 Ordinary Shares resulting in an increase in share capital of $11m and share premium of $3,479m. Share forfeiture The Group has a share forfeiture programme following the completion of a tracing and notification exercise to any shareholders who have not had contact with the Company over the past 12 years, in accordance with the provisions set out in the Company's Articles of Association. Under the share forfeiture programme, the shares and dividends associated with shares of untraced members are forfeited, with the resulting proceeds transferred to the Group to use for good causes in line with the Group's corporate responsibility strategy. During the financial year, the Group received $10m (2018: nil; 2017: nil) proceeds from sale of untraced shares and $4m (2018: $2m; 2017: nil) write-back of unclaimed dividends on those shares, which are reflected in share premium and retained earnings respectively. Share repurchases No Ordinary Shares were repurchased by the Company in 2019 (2018: nil; 2017: nil). Shares held by subsidiaries No shares in the Company were held by subsidiaries in any year.

Dividends to shareholders

Dividends to shareholders	12 Months Ended
	Dec. 31, 2019
Dividends to shareholders
Dividends to shareholders	25 Dividends to shareholders Per share Per share Per share $m $m $m Second interim (March 2019) $ $ $ 2,403 2,402 2,404 First interim (September 2019) $ $ $ 1,180 1,139 1,139 Total $ $ $ 3,583 3,541 3,543 The Company has exercised its authority in accordance with the provisions set out in the Company’s Articles of Association that the balance of unclaimed dividends over past 12 years be forfeited. $4m (2018: $2m; 2017: nil) of unclaimed dividends have been adjusted for in retained earnings in 2019. The 2018 second interim dividend of $1.90 per share was paid on 27 March 2019. Reconciliation of dividend charged to equity to cash flow statement: $m $m $m Dividends charged to equity 3,583 3,541 3,543 Exchange losses/(gains) on payment of dividend 5 10 (4) Hedge contracts relating to payment of dividends (cash flow statement) 4 (67) (20) Dividends paid (cash flow statement) 3,592 3,484 3,519

Non-controlling interests

Non-controlling interests	12 Months Ended
	Dec. 31, 2019
Non-controlling interests.
Non-controlling interests	26 Non-controlling interests Following the acquisition of a majority stake in Acerta Pharma on 2 February 2016, the Group Financial Statements at 31 December 2019 reflect equity of $1,456m (2018: $1,567m; 2017: $1,676m) and total comprehensive losses of $111m (2018: losses of $109m; 2017: losses of $132m) attributable to the non-controlling interest, held by other parties, in Acerta Pharma. The following summarised financial information, for Acerta Pharma and its subsidiaries, is presented on a stand alone basis since the acquisition date, and before the impact of Group-related adjustments, some of which are incorporated into this calculation of the loss attributable to the non-controlling interests: $m $m $m Total Revenue – – – (Loss)/profit after tax (422) (9) 412 Other comprehensive income – – – Total comprehensive (loss)/income (422) (9) 412 $m $m $m Non-current assets 157 3 Current assets 475 904 Total assets 632 907 Current liabilities (310) (417) Non-current liabilities (267) – – Total liabilities (577) (417) Net assets/(liabilities) 55 490 $m $m $m Net cash (outflow)/inflow from operating activities (13) 7 5 Net cash inflow/(outflow) from investing activities 7 (4) – Net cash inflow from financing activities 7 – – Increase/(decrease) in cash and cash equivalents in the year 1 3 5 The total reported total comprehensive losses of $107m (2018: losses of $106m; 2017: losses of $133m) and equity of $1,469m (2018: $1,576m; 2017: $1,682m) attributable to non-controlling interests held by other parties, comprises the Acerta Pharma results and immaterial amounts in AstraZeneca Pharma India Limited and P.T. AstraZeneca Indonesia. The non-controlling interest in Acerta Pharma is subject to a put option, exercisable by the minority shareholders at certain points in the future, dependent on regulatory outcomes of Calquence (acalabrutinib) in Europe. This put option gives rise to a liability (see Note 20).

Financial risk management objec

Financial risk management objectives and policies	12 Months Ended
	Dec. 31, 2019
Disclosure Of financial risk management objectives and policies
Financial risk management objectives and policies	27 Financial risk management objectives and policies The Group’s principal financial instruments, other than derivatives, comprise bank overdrafts, lease liabilities, loans, current and non-current investments, cash and short-term deposits. The main purpose of these financial instruments is to manage the Group’s funding and liquidity requirements. The Group has other financial assets and liabilities such as trade receivables and trade payables, which arise directly from its operations. The principal financial risks to which the Group is exposed are those of liquidity, interest rate, foreign currency and credit. Each of these is managed in accordance with Board-approved policies. These policies are set out below. Hedge accounting The Group uses foreign currency borrowings, foreign currency forwards and swaps, currency options, interest rate swaps and cross-currency interest rate swaps for the purpose of hedging its foreign currency and interest rate risks. The Group may designate certain financial instruments as fair value hedges, cash flow hedges or net investment hedges in accordance with IFRS 9. Hedge effectiveness is determined at the inception of the hedge relationship, and through periodic prospective effectiveness assessments to ensure that an economic relationship exists between the hedged item and hedging instrument. Sources of hedge effectiveness will depend on the hedge relationship designation but may include: > a significant change in the credit risk of either party to the hedging relationship > a timing mismatch between the hedging instrument and the hedged item > movements in foreign currency basis spread for derivatives in a fair value hedge > a significant change in the value of the foreign currency denominated net assets of the Group in a net investment hedge. The hedge ratio for each designation will be established by comparing the quantity of the hedging instrument and the quantity of the hedged item to determine their relative weighting; for all of the Group’s existing hedge relationships the hedge ratio has been determined as 1:1. Designated hedges are expected to be effective and therefore the impact of ineffectiveness on profit is not expected to be material. The accounting treatment for fair value hedges and debt designated as fair value through profit or loss is disclosed in the Group Accounting Policies section from page 172. The following table represents the Group’s continuing designated hedge relationships under IFRS 9. 2017 Other comprehensive income Fair value loss Opening Fair value recycled Closing Nominal balance (gain)/loss to the balance Average amounts Carrying 1 January deferred income 31 December Average Average pay in local value to OCI statement maturity USD FX interest currency $m $m $m $m $m year rate rate Fair value hedge – foreign currency and interest rate risk Cross currency interest rate swap – Euro bond EUR 300m 31 – – – – 1.09 USD LIBOR + 1.27% Cash flow hedges – foreign currency and interest rate risk Cross currency interest rate swaps – Euro bonds EUR 2,200m 197 (80) (311) 315 (76) 1.14 USD 2.69% Net investment hedge – foreign exchange risk Transactions matured pre 2017 – (338) – – (338) – – – Cross currency interest rate swap – JPY investment JPY 58.5bn 223 (242) 19 – (223) 78.01 JPY 0.35% Cross currency interest rate swap – CNY investment CNY 458m (4) (7) 11 – 4 6.68 CNY 4.80% Cross currency interest rate swap – CNY investment CNY 919m 12 (29) 17 – (12) 6.09 CNY 3.12% Foreign currency borrowing – GBP investment GBP 350m (468) (281) 41 – (240) n/a GBP 5.75% Foreign currency borrowing – EUR investment EUR 450m (586) – 65 – 65 n/a EUR 0.88% Contingent consideration liabilities – AZUK and AZAB USD investments USD 6,379m (6,379) 1,850 (611) – 1,239 – – – 2018 Other comprehensive income Fair value (gain) Opening Fair value recycled Closing Nominal balance loss(gain) to the balance Average amounts Carrying 1 January deferred income 31 December Average Average pay in local value to OCI statement maturity USD FX interest currency $m $m $m $m $m year rate rate Fair value hedge – foreign currency and interest rate risk 1 Cross currency interest rate swap – Euro bond EUR 300m 16 – – – – 1.09 USD LIBOR + 1.27% Cash flow hedges – foreign currency and interest rate risk 2, 4 Cross currency interest rate swaps – Euro bonds EUR 2,200m 101 (76) 95 (111) (92) 1.14 USD 2.69% Net investment hedge – foreign exchange risk 3, 4 Transactions matured pre 2018 – (338) – – (338) – – – Cross currency interest rate swap – JPY investment JPY 58.5bn 213 (223) 10 – (213) 78.01 JPY 0.35% Cross currency interest rate swap – CNY investment CNY 458m (4) 4 – – 4 6.68 CNY 4.80% Cross currency interest rate swap – CNY investment CNY 919m – (12) (6) – (18) 6.09 CNY 3.12% Foreign currency borrowing – GBP investment GBP 350m (443) (240) (25) – (265) n/a GBP 5.75% Foreign currency borrowing – EUR investment EUR 450m (508) 65 (21) – 44 n/a EUR 0.88% Contingent consideration liabilities – AZUK and AZAB USD investments USD 6,015m (6,015) 1,239 566 – 1,805 – – – 2019 Other comprehensive income Fair value (gain) Opening Fair value recycled Closing Nominal balance loss/(gain) to the balance Average amounts Carrying 1 January deferred income 31 December Average Average pay in local value to OCI statement maturity USD FX interest currency $m $m $m $m $m year rate rate Fair value hedge – foreign currency and interest rate risk 1 Cross currency interest rate swap – Euro bond EUR 300m 10 – – – – 1.09 USD LIBOR + 1.27% Cash flow hedges – foreign currency and interest rate risk 2, 4 Cross currency interest rate swaps – Euro bonds EUR 2,200m (13) (92) 114 (52) (30) 1.14 USD 2.69% Net investment hedge – foreign exchange risk 3, 4 Transactions matured pre 2019 – (356) – – (356) – – – Cross currency interest rate swap – JPY investment 5 JPY 58.5bn – (213) 4 – (209) 78.01 JPY 0.35% Cross currency interest rate swap – JPY investment JPY 58.3bn 4 – (4) – (4) 108.03 JPY 1.53% Cross currency interest rate swap – CNY investment CNY 458m (1) 4 (3) – 1 6.68 CNY 4.80% Foreign currency borrowing – GBP investment GBP 350m (457) (265) 14 – (251) n/a GBP 5.75% Foreign currency borrowing – EUR investment EUR 450m (498) 44 (10) – 34 n/a EUR 0.88% Contingent consideration liabilities – AZUK and AZAB USD investments USD 5,583m (5,583) 1,805 248 – 2,053 – – – 1. Hedge ineffectiveness recognised on swaps designated in a fair value hedge during the period was a gain of $3m (2018: loss of $3m). 2. Hedge ineffectiveness recognised on swaps designated in a cash flow hedge during the period was $nil (2018: $nil). 3. Hedge ineffectiveness recognised on swaps designated in a net investment hedge during the period was $nil (2018: $nil). 4. Fair value movements on cross currency interest rate swaps in cash flow hedge and net investment hedge relationships are shown inclusive of the impact of costs of hedging. 5. In September 2019, the maturity of our JPY 58.5bn cross currency interest rate swap resulted in a net cash inflow of $209m. The cash flow associated with the settlement has been reflected in cash flows from investing activities within the Consolidated Statement of Cash Flows on page 171, as its primary purpose was to hedge the translation foreign exchange risk arising on the consolidation of the Group’s net investment in Japan. Key controls applied to transactions in derivative financial instruments are: to use only instruments where good market liquidity exists, to revalue all financial instruments regularly using current market rates and to sell options only to offset previously purchased options or as part of a risk management strategy. The Group is not a net seller of options, and does not use derivative financial instruments for speculative purposes. Capital management The capital structure of the Group consists of shareholders’ equity (Note 24), debt (Note 19), other current investments (Note 12) and cash (Note 17). For the foreseeable future, the Board will maintain a capital structure that supports the Group’s strategic objectives through: > managing funding and liquidity risk > optimising shareholder return > maintaining a strong, investment-grade credit rating. The Group utilises factoring arrangements for selected trade receivables. These factoring arrangements qualify for full derecognition of the associated trade receivables under IFRS 9. Amounts due, on invoices that have not been factored at year end, from customers that are subject to factoring arrangements are disclosed in Note 16. Funding and liquidity risk are reviewed regularly by the Board and managed in accordance with policies described below. The Board’s distribution policy comprises a regular cash dividend and, subject to business needs, a share repurchase component. The Board regularly reviews its shareholders’ return strategy, and, in 2012, decided to suspend share repurchases in order to retain strategic flexibility. The Group’s net debt position (loans and borrowings net of Cash and cash equivalents, other investments and derivative financial instruments) has decreased from a net debt position of $13,003m at the beginning of the year to a net debt position of $11,904m at 31 December 2019. Liquidity risk The Board reviews the Group’s ongoing liquidity risks annually as part of the planning process and on an ad hoc basis. The Board considers short-term requirements against available sources of funding, taking into account forecast cash flows. The Group manages liquidity risk by maintaining access to a number of sources of funding which are sufficient to meet anticipated funding requirements. Specifically, the Group uses US commercial paper, bank loans, committed bank facilities and cash resources to manage short-term liquidity and manages long-term liquidity by raising funds through the capital markets. The Group is assigned short-term credit ratings of P-2 by Moody’s and A-2 by Standard and Poor’s. The Group’s long-term credit rating is A3 stable outlook by Moody’s and BBB+ stable outlook by Standard and Poor’s. In addition to Cash and cash equivalents of $5,369m, short-term fixed income investments of $811m, fixed deposits of $38m, less overdrafts of $146m at 31 December 2019, the Group has committed bank facilities of $4,125m available to manage liquidity. Of the total $4,125m of committed facilities, $3,375m mature in April 2022, $250m mature in December 2020 and $500m mature in November 2020 but have a one-year extension option, exercisable by the Group. All were undrawn at 31 December 2019. The Group regularly monitors the credit standing of the banking group and currently does not anticipate any issue with drawing on the committed facilities should this be necessary. Advances under these facilities bear an interest rate per annum based on LIBOR (or other relevant benchmark rate) plus a margin. The facility agreements contain no financial covenants. On 10 January 2019, the Company entered into a floating rate $500m committed bank loan agreement, which was drawn in full on 4 February 2019. The loan was fully repaid in April, following the Group’s $3,490m equity issuance. At 31 December 2019, the Group has issued $3,741m under a Euro Medium Term Note programme and $13,568m under a SEC-registered programme. The funds made available under these facility agreements may be used for the general corporate purposes of the Group. The maturity profile of the anticipated future contractual cash flows including interest in relation to the Group’s financial liabilities, on an undiscounted basis and which, therefore, differs from both the carrying value and fair value, is as follows: Bank Total Derivative Derivative Total overdrafts Trade non-derivative financial financial derivative and other Finance and other financial instruments instruments financial loans Bonds leases 1 payables instruments receivable 2 payable 2 instruments Total $m $m $m $m $m $m $m $m $m Within one year 859 1,985 5 11,840 14,689 (6,996) 7,020 24 14,713 In one to two years – 1,564 – 1,976 3,540 (803) 601 (202) 3,338 In two to three years – 2,144 – 1,586 3,730 (39) 80 41 3,771 In three to four years 16 2,000 – 3,240 5,256 (994) 971 (23) 5,233 In four to five years – 1,736 – 1,112 2,848 (34) 59 25 2,873 In more than five years – 15,575 – 2,808 18,383 (2,198) 2,217 19 18,402 875 25,004 5 22,562 48,446 (11,064) 10,948 (116) 48,330 Effect of interest (14) (7,969) – – (7,983) 286 (720) (434) (8,417) Effect of discounting, fair values and issue costs – (94) – (3,081) (3,175) 9 37 46 (3,129) 31 December 2017 861 16,941 5 19,481 37,288 (10,769) 10,265 (504) 36,784 Bank Total Derivative Derivative Total overdrafts Trade non-derivative financial financial derivative and other Finance and other financial instruments instruments financial loans Bonds leases 1 payables instruments receivable 2 payable 2 instruments 2 Total $m $m $m $m $m $m $m $m $m Within one year 774 1,629 – 13,029 15,432 (10,368) 10,171 (197) 15,235 In one to two years 7 2,210 – 1,688 3,905 (35) 82 47 3,952 In two to three years 14 2,002 – 833 2,849 (950) 974 24 2,873 In three to four years – 1,813 – 3,340 5,153 (30) 58 28 5,181 In four to five years – 2,069 – 776 2,845 (30) 58 28 2,873 In more than five years – 17,405 – 2,084 19,489 (2,084) 2,154 70 19,559 795 27,128 – 21,750 49,673 (13,497) 13,497 – 49,673 Effect of interest (2) (8,669) – – (8,671) 251 (509) (258) (8,929) Effect of discounting, fair values and issue costs (17) (122) – (2,139) (2,278) (9) (117) (126) (2,404) 31 December 2018 776 18,337 – 19,611 38,724 (13,255) 12,871 (384) 38,340 Bank Total Derivative Derivative Total overdrafts Trade non-derivative financial financial derivative and other Lease and other financial instruments instruments financial loans Bonds liability 1 payables instruments receivable payable 2 instruments Total $m $m $m $m $m $m $m $m $m Within one year 234 2,207 205 14,054 16,700 (11,956) 11,985 29 16,729 In one to two years 14 1,970 158 1,769 3,911 (955) 976 21 3,932 In two to three years – 1,810 117 1,811 3,738 (54) 67 13 3,751 In three to four years – 2,068 79 1,592 3,739 (54) 67 13 3,752 In four to five years – 1,479 50 1,652 3,181 (1,051) 1,079 28 3,209 In more than five years – 15,906 128 1,052 17,086 (1,648) 1,654 6 17,092 248 25,440 737 21,930 48,355 (15,718) 15,828 110 48,465 Effect of interest (1) (8,038) – – (8,039) 409 (488) (79) (8,118) Effect of discounting, fair values and issue costs (3) (94) (62) (1,619) (1,778) (20) (54) (74) (1,852) 31 December 2019 244 17,308 675 20,311 38,538 (15,329) 15,286 (43) 38,495 1. Comparative figures relate to Finance leases recognised under IAS 17. 2. The maturity profile table has been amended in 2019 to show gross derivative flows and to include all derivatives shown in Note 13 on page 195. In previous periods the table separately disclosed the net cash flows on interest rate swaps and cross-currency swaps. Other derivative instruments amounting to $18m in 2018 and $5m in 2017 were not included in the table. Where interest payments are on a floating rate basis, it is assumed that rates will remain unchanged from the last business day of each year ended 31 December. It is not expected that the cash flows in the maturity profile could occur significantly earlier or at significantly different amounts, with the exception of $4,139m of contingent consideration held within Trade and other payables (see Note 20). Market risk Interest rate risk The Group maintains a mix of fixed and floating rate debt. The portion of fixed rate debt was approved by the Board and any variation requires Board approval. A significant portion of the long-term debt is held at fixed rates of interest. The Group uses interest rate swaps and forward rate agreements to manage this mix. At 31 December 2019, the Group held interest rate swaps with a notional value of $288m, converting the 7% guaranteed debentures payable in 2023 to floating rates. No new interest rate swaps were entered into during 2019. At 31 December 2019, swaps with a notional value of $288m related to debt designated as fair value through profit or loss. The majority of surplus cash is currently invested in US dollar liquidity funds, fully collateralised repurchase arrangements and investment-grade fixed income securities. The interest rate profile of the Group’s interest-bearing financial instruments are set out below. In the case of current and non-current financial liabilities, the classification includes the impact of interest rate swaps which convert the debt to floating rate. Fixed rate Floating rate Total Fixed rate Floating rate Total Fixed rate Floating rate Total $m $m $m $m $m $m $m $m $m Financial liabilities Interest-bearing loans and borrowings Current 1,785 225 2,010 999 755 1,754 404 1,843 2,247 Non-current 14,893 1,324 16,217 16,038 1,321 17,359 14,608 952 15,560 Total 16,678 1,549 18,227 17,037 2,076 19,113 15,012 2,795 17,807 Financial assets Fixed deposits 38 – 38 40 – 40 – 80 80 Cash and cash equivalents – 5,369 5,369 – 4,831 4,831 – 3,324 3,324 Total 38 5,369 5,407 40 4,831 4,871 – 3,404 3,404 In addition to the financial assets above, there are $6,765m (2018: $6,195m; 2017: $6,366m) of other current and non-current asset investments and other financial assets. Of these, $111m receive floating rate interest (2018: $nil; 2017: $nil). No interest is charged on the remaining $6,654m. The Group is also exposed to market risk on equity securities, which represent non-controlling interests in third-party biotech companies. $m $m $m Equity securities at fair value through Other comprehensive income (Note 12) 1,339 833 – Equity securities available for sale (Note 12) – – 933 Total 1,339 833 933 Foreign currency risk The US dollar is the Group’s most significant currency. As a consequence, the Group results are presented in US dollars and exposures are managed against US dollars accordingly. Translational Approximately 67% of Group external sales in 2019 were denominated in currencies other than the US dollar, while a significant proportion of manufacturing, and research and development costs were denominated in pounds sterling and Swedish krona. Surplus cash generated by business units is substantially converted to, and held centrally in, US dollars. As a result, operating profit and total cash flow in US dollars will be affected by movements in exchange rates. This currency exposure is managed centrally, based on forecast cash flows. The impact of movements in exchange rates is mitigated significantly by the correlations which exist between the major currencies to which the Group is exposed and the US dollar. Monitoring of currency exposures and correlations is undertaken on a regular basis and hedging is subject to pre-execution approval. As at 31 December 2019, before impact of derivatives, 3% of interest-bearing loans and borrowings were denominated in pounds sterling and 18% were denominated in euros. Where there is non-US dollar debt and an underlying net investment of that amount in the same currency, the Group applies net investment hedging. Exchange differences on the retranslation of debt designated as net investment hedges are recognised in Other comprehensive income to the extent that the hedge is effective. Any ineffectiveness is taken to profit. The Group holds cross-currency swaps to hedge against the impact of fluctuations in foreign exchange rates. Fair value movements on the revaluation of the cross-currency swaps are recognised in Other comprehensive income to the extent that the hedge is effective, with any ineffectiveness taken to profit. Foreign currency risk arises when the Group has inter-company funding and investments in certain subsidiaries operating in countries with exchange controls or where there is risk of significant future currency devaluation. One indicator of potential foreign currency risk is where a country is officially designated as hyperinflationary. As at 31 December 2019, the Group operates in two countries designated as hyperinflationary, being Argentina and Venezuela. The foreign exchange risk to the Group from Argentina and Venezuela has been assessed and deemed to be immaterial. Transactional The Group aims to hedge all its forecast major transactional currency exposures on working capital balances, which typically extend for up to three months. Where practicable, these are hedged using forward foreign exchange. In addition, the Group’s external dividend, which is paid principally in pounds sterling and Swedish krona, is fully hedged from announcement to payment date. Foreign exchange gains and losses on forward contracts transacted for transactional hedging are taken to profit. Sensitivity analysis The sensitivity analysis set out overleaf summarises the sensitivity of the market value of our financial instruments to hypothetical changes in market rates and prices. The range of variables chosen for the sensitivity analysis reflects our view of changes which are reasonably possible over a one-year period. Market values are the present value of future cash flows based on market rates and prices at the valuation date. For long-term debt, an increase in interest rates results in a decline in the fair value of debt. The sensitivity analysis assumes an instantaneous 100 basis point change in interest rates in all currencies from their levels at 31 December 2019, with all other variables held constant. Based on the composition of our long-term debt portfolio as at 31 December 2019, a 1% increase in interest rates would result in an additional $15m in interest expense being incurred per year. The exchange rate sensitivity analysis assumes an instantaneous 10% change in foreign currency exchange rates from their levels at 31 December 2019, with all other variables held constant. The +10% case assumes a 10% strengthening of the US dollar against all other currencies and the -10% case assumes a 10% weakening of the US dollar. Each incremental 10% movement in foreign currency exchange rates would have approximately the same effect as the initial 10% detailed in the table below and each incremental 1% change in interest rates would have approximately the same effect as the 1% detailed in the table below. Interest rates Exchange rates 31 December 2017 +1% −1% +10% −10% Increase/(decrease) in fair value of financial instruments ($m) 1,329 (1,293) 198 (198) Impact on profit: (loss)/gain ($m) – – (123) 123 Impact on equity: gain/(loss) ($m) – – 321 (321) Interest rates Exchange rates 31 December 2018 +1% −1% +10% −10% Increase/(decrease) in fair value of financial instruments ($m) 1,130 (1,267) (146) 161 Impact on profit: (loss)/gain ($m) – – (299) 348 Impact on equity: gain/(loss) ($m) – – 153 (187) Interest rates Exchange rates 31 December 2019 +1% −1% +10% −10% Increase/(decrease) in fair value of financial instruments ($m) 1,417 (1,521) (4) (36) Impact on profit: (loss)/gain ($m) – – (174) 172 Impact on equity: gain/(loss) ($m) – – 170 (208) In 2018 the Group changed the method for assessing a 10% change in foreign currency exchange rates. In 2017 the sensitivity was calculated as 10% of year end exposure. The sensitivity is now calculated by dividing the non-USD balances by adjusted foreign rates. This does not have a material impact on results but has resulted in the weakening and strengthening values no longer being symmetrical. There have been no other changes in the methods and assumptions used in preparing the sensitivity analysis. Credit risk The Group is exposed to credit risk on financial assets, such as cash investments, derivative instruments, and Trade and other receivables. The Group is also exposed in its Net asset position to its own credit risk in respect of the 2023 debentures which are accounted for at fair value through profit or loss. Under IFRS 9, the Group records the effect of the losses and gains, arising from own credit risk, on the fair value of bonds designated at fair value through profit or loss in Other comprehensive income. Financial counterparty credit risk The majority of the AstraZeneca Group’s cash is centralised within the Group treasury entity and is subject to counterparty risk on the principal invested. The level of the Group’s cash investments and hence credit risk will depend on the cash flow generated by the Group and the timing of the use of that cash. The credit risk is mitigated through a policy of prioritising security and liquidity over return, and, as such, cash is only invested in high credit quality investments. Counterparty limits are set according to the assessed risk of each counterparty and exposures are monitored against these limits on a regular basis. The Group’s principal financial counterparty credit risks at 31 December 2019 were as follows: Current assets $m $m $m Cash at bank and in hand 755 893 784 Money market liquidity fund 4,110 3,435 1,150 Collateralised repurchase agreement 400 400 1,150 Other short-term cash equivalents 104 103 240 Total Cash and cash equivalents (Note 17) 5,369 4,831 3,324 Fixed income securities at fair value through profit and loss (Note 12) 811 809 – Fixed income securities available for sale (Note 12) – – 1,150 Fixed deposits (Note 12) 38 40 80 Total derivative financial instruments (Note 13) 36 258 28 Current assets subject to credit risk 6,254 5,938 4,582 Non-current assets $m $m $m Fixed income securities at fair value through profit and loss (Note 12) 62 – – Derivative financial instruments (Note 13) 61 157 504 Non-current assets subject to credit risk 123 157 504 The Group may hold significant cash balances as part of its normal operations, with the amount of cash held at any point reflecting the level of cash flow generated by the business and the timing of the use of that cash. The majority of excess cash is centralised within the Group treasury entity and is subject to counterparty risk on the principal invested. This risk is mitigated through a policy of prioritising security and liquidity over return, and, as such, cash is only invested in high credit-quality investments. Counterparty limits are set according to the assessed risk of each counterparty and exposures are monitored against these limits on a regular basis. The majority of the Group’s cash is invested in US dollar AAA-rated liquidity funds, fully collateralised repurchase agreements and short-term bank deposits. The money market liquidity fund portfolios are managed by five external third-party fund managers to maintain an AAA rating. The Group’s investments represent no more than 10% of each overall fund value. There were no other significant concentrations of financial credit risk at the reporting date. The short-term repurchase agreements are fully collateralised investments. The collateral is fixed income in nature and is held by a third-party custodian and represents approximately 106% of the value of the cash deposited. The minimum long-term credit rating of the collateral is BBB minus. In the event of any default, ownership of the collateral would revert to the Group, and would be readily convertible to cash. The value of the cash deposited in repurchase agreements at 31 December 2019 was $401m (2018: $403m; 2017: $1,151m). The fixed income securities are managed by four external third-party fund managers. The long-term rating of these securities was BBB minus or better. All financial derivatives are transacted with commercial banks, in line with standard market practice. The Group has agreements with some bank counterparties whereby the parties agree to post cash collateral, for the benefit of the other, equivalent to the market valuation of the derivative positions above a predetermined threshold. The carrying value of such cash collateral held by the Group at 31 December 2019 was $71m (2018: $384m; 2017: $513m) and the carrying value of such cash collateral posted by the Group at 31 December 2019 was $10m (2018: $14m; 2017: $nil). The impairment provision for other financial assets at 31 December 2019 was immaterial. Trade receivables Trade receivable exposures are managed locally in the operating units where they arise and credit limits are set as deemed appropriate for the customer. The Group is exposed to customers ranging from government-backed agencies and large private wholesalers to privately owned pharmacies, and the underlying local economic and sovereign risks vary throughout the world. Where appropriate, the Group endeavours to minimise risks by the use of trade finance instruments such as letters of credit and insurance. Following the adoption of IFRS 9 on 1 January 2018, the Group introduced the expected credit loss approach to establish an allowance for impairment that represents its estimate of expected losses in respect of Trade receivables. Given the general quality and short-term nature of our trade receivables, there was no material impact assessed arising from the introduction of this method. The Group applies the IFRS 9 simplified approach to measuring expected credit losses which uses a lifetime expected loss allowance for all trade receivables. To measure expected credit losses, trade receivables have been grouped based on shared credit characteristics and the days past due. The expected loss rates are based on payment profiles over a period of 36 months before 31 December 2019, 31 December 2018 or 1 January 2018 respectively and the corresponding historical credit losses experienced within this period. The historical loss rates are adjusted to reflect current and forward-looking information on macroeconomic factors affecting the ability of the customer to settle the receivables. On that basis, the loss allowance was determined as follows: 0-90 days 90-180 days Over 180 days 1 January 2018 Current past due past due past due Total Expected loss rate % 0.75 % 5 % 33 % Gross carrying amount ($m) 2,490 262 31 35 2,818 Loss allowance ($m) 1 2 1 12 16 0-90 days 90-180 days Over 180 days 31 December 2018 Current past due past due past due Total Expected loss rate % 0.75 % 10 % 47 % Gross carrying amount ($m) 2,854 82 27 70 3,033 Loss allowance ($m) 1 1 3 33 38 0-90 days 90-180 days Over 180 days 31 December 2019 Current past due past due past due Total Expected loss rate % 0.75 % 2 % 44 % Gross carrying amount($m) 3,178 312 82 34 3,606 Loss allowance ($m) 2 2 2 15 21 Trade receivables are written off where there is no reasonable expectation of recovery. Impairment losses on trade receivables are presented as net impairment losses within Operating profit, any subsequent recoveries are credited against the same line. In the US, sales to three wholesalers accounted for approximately 94% of US sales (2018: three wholesalers accounted for approximately 88%; 2017: three wholesalers accounted for approximately 60%). The ageing of trade receivables at the reporting date was: $m $m $m Not past due 3,176 2,853 2,488 Past due 0–90 days 310 81 260 Past due 90–180 days 80 24 31 Past due > 180 days 19 37 23 3,585 2,995 2,802 $m $m $m Movements in provisions for trade receivables At 1 January 38 16 42 Income statement (13) 22 (26) Amounts utilised, exchange and other movements (4) – – At 31 December 21 38 16 Given the profile of our customers, including large wholesalers and government-backed agencies, no further credit risk has been identified with the trade receivables not past due other than those balances for which an allowance has been made. The income statement credit or charge is recorded in Selling, general and administrative costs.

Employee costs and share plans

Employee costs and share plans for employees	12 Months Ended
	Dec. 31, 2019
Employee costs and share plans for employees
Employee costs and share plans for employees	28 Employee costs and share plans for employees Employee costs The average number of people, to the nearest hundred, employed by the Group is set out in the table below. In accordance with the Companies Act 2006, this includes part-time employees. Employees UK 7,400 7,200 6,900 Continental Europe 15,500 14,800 14,500 The Americas 16,600 16,700 16,300 Asia, Africa & Australasia 27,800 24,500 22,300 Continuing operations 67,300 63,200 60,000 Geographical distribution described in the table above is by location of legal entity employing staff. Certain staff will undertake some or all of their activity in a different location. The number of people employed by the Group at the end of 2019 was 70,600 (2018: 64,600; 2017: 61,100). The costs incurred during the year in respect of these employees were: $m $m $m Salaries 5,648 5,370 5,004 Social security costs 658 626 570 Pension costs 491 469 378 Other employment costs 771 505 534 Total 7,568 6,970 6,486 Severance costs of $158m are not included above (2018: $94m; 2017: $225m). The Directors believe that, together with the basic salary system, the Group’s employee incentive schemes provide competitive and market-related packages to motivate employees. They should also align the interests of employees with those of shareholders, as a whole, through long-term share ownership in the Company. The Group’s current UK, Swedish and US schemes are described below; other arrangements apply elsewhere. Bonus plans The AstraZeneca UK Performance Bonus Plan Employees of participating AstraZeneca UK companies are invited to participate in this bonus plan, which rewards strong individual performance. Bonuses are paid in cash. The AstraZeneca Executive Annual Bonus Scheme This scheme is a performance bonus scheme for Directors and senior employees who do not participate in the AstraZeneca UK Performance Bonus Plan. Annual bonuses are paid in cash and reflect both corporate and individual performance measures. The Remuneration Committee has discretion to reduce or withhold bonuses if business performance falls sufficiently short of expectations in any year such as to make the payment of bonuses inappropriate. The AstraZeneca Deferred Bonus Plan This plan was introduced in 2006 and is used to defer a portion of the bonus earned under the AstraZeneca Executive Annual Bonus Scheme into Ordinary Shares in the Company for a period of three years. The plan currently operates only in respect of Executive Directors and members of the SET. Awards of shares under this plan are typically made in March each year, the first award having been made in February 2006. Sweden In Sweden, an all-employee performance bonus plan is in operation, which rewards strong individual performance. Bonuses are paid 50% into a fund investing in AstraZeneca equities and 50% in cash. The AstraZeneca Executive Annual Bonus Scheme, the AstraZeneca Performance Share Plan and the AstraZeneca Global Restricted Stock Plan all operate in respect of relevant AstraZeneca employees in Sweden. US In the US, there are two all-employee short-term or annual performance bonus plans in operation to differentiate and reward strong individual performance. Annual bonuses are paid in cash. There is also one senior staff long-term incentive scheme, under which 123 participants may be eligible for awards granted as AstraZeneca ADSs. AstraZeneca ADSs necessary to satisfy the awards are purchased in the market or funded via a share trust. The AstraZeneca Performance Share Plan and the AstraZeneca Global Restricted Stock Plan operate in respect of relevant employees in the US. Share plans The charge for share-based payments in respect of share plans is $259m (2018: $219m; 2017: $220m). The plans are equity settled. The AstraZeneca UK All-Employee Share Plan The Company offers UK employees the opportunity to buy Partnership Shares (Ordinary Shares). Employees may invest up to £150 a month to purchase Partnership Shares in the Company at the current market value. In 2010, the Company introduced a Matching Share element, the first award of which was made in 2011. Currently one Matching Share is awarded for every four Partnership Shares purchased. Partnership Shares and Matching Shares are held in the HM Revenue & Customs (HMRC)-approved All-Employee Share Plan. At the Company’s AGM in 2002, shareholders approved the issue of new shares for the purposes of the All-Employee Share Plan. The AstraZeneca 2014 Performance Share Plan (PSP) This plan was approved by shareholders in 2014 for a period of 10 years and replaces the AstraZeneca Performance Share Plan. Generally, awards can be granted at any time, but not during a closed period of the Company. The first grant of awards was made in May 2014. Awards granted under the plan vest after three years, or in the case of Executive Directors and members of the SET, after an additional two-year holding period, and can be subject to the achievement of performance conditions. For awards granted to all participants in 2019, vesting is subject to a combination of measures focused on scientific leadership, revenue growth and financial performance. The Remuneration Committee has responsibility for agreeing any awards under the plan and for setting the policy for the way in which the plan should be operated, including agreeing performance targets and which employees should be invited to participate. The main grant of awards in 2019 under the plan took place in March with further grants in May, August and November. Shares WAFV 1 WAFV 1 ʼ 000 pence $ Shares awarded in March 2017 2,359 2440 30.88 Shares awarded in May 2017 10 2607 34.20 Shares awarded in August 2017 44 2234 29.11 Shares awarded in March 2018 3,400 2427 34.62 Shares awarded in May 2018 18 2651 36.42 Shares awarded in August 2018 92 2982 38.46 Shares awarded in March 2019 2,899 3144 42.00 Shares awarded in May 2019 5 2918 37.77 Shares awarded in August 2019 79 3640 44.28 Shares awarded in November 2019 13 3663 47.42 1 Weighted average fair value. The AstraZeneca Investment Plan (AZIP) This plan was introduced in 2010 and approved by shareholders at the 2010 AGM. The final grant of awards under this plan took place in March 2016. Awards granted under the plan vest after eight years and are subject to performance conditions measured over a period of four years. The AstraZeneca Global Restricted Stock Plan This plan was introduced in 2010. The main grant of awards in 2019 under the plan was in March, with further, smaller grants in May, August and November. This plan provides for the grant of restricted stock unit (RSU) awards to selected below SET-level employees and is used in conjunction with the AstraZeneca Performance Share Plan to provide a mix of RSUs and performance shares. Awards typically vest on the third anniversary of the date of grant and are contingent on continued employment with the Company. The Remuneration Committee has responsibility for agreeing any awards under the plan and for setting the policy for the way in which the plan should be operated. Shares WAFV WAFV ʼ000 pence $ Shares awarded in March 2017 2,502 4880 61.76 Shares awarded in May 2017 78 5214 68.40 Shares awarded in August 2017 31 4468 58.22 Shares awarded in November 2017 77 4942 66.24 Shares awarded in March 2018 4,474 4853 69.24 Shares awarded in August 2018 40 5964 76.92 Shares awarded in November 2018 3 6300 82.86 Shares awarded in March 2019 4,527 6287 84.00 Shares awarded in May 2019 1 5835 75.54 Shares awarded in August 2019 114 7280 88.56 Shares awarded in November 2019 2 7326 94.84 The AstraZeneca Restricted Share Plan This plan was introduced in 2008 and provides for the grant of restricted share awards to key employees, excluding Executive Directors. Awards are made on an ad hoc basis with variable vesting dates. The plan has been used four times in 2019 to make awards to 87 employees. The Remuneration Committee has responsibility for agreeing any awards under the plan and for setting the policy for the way in which the plan should be operated. Shares WAFV WAFV ʼ000 pence $ Shares awarded in February 2017 205 4293 55.50 Shares awarded in March 2017 134 4880 61.76 Shares awarded in May 2017 8 5214 68.40 Shares awarded in August 2017 26 4468 58.22 Shares awarded in September 2017 31 4765 65.60 Shares awarded in November 2017 23 4942 66.24 Shares awarded in March 2018 148 4853 69.24 Shares awarded in May 2018 45 5301 72.84 Shares awarded in August 2018 37 5964 76.92 Shares awarded in November 2018 38 6300 82.86 Shares awarded in March 2019 95 6287 84.00 Shares awarded in May 2019 25 5835 75.54 Shares awarded in August 2019 56 7280 88.56 Shares awarded in November 2019 105 7326 94.84 The AstraZeneca Extended Incentive Plan This plan was introduced in 2018 and provides for the grant of awards to key employees, excluding Executive Directors. Awards are made on an ad hoc basis and 50% of the award will normally vest on the fifth anniversary of grant, with the balance vesting on the tenth anniversary of grant. The award can be subject to the achievement of performance conditions. The Remuneration Committee has responsibility for agreeing any awards under the plan and for setting the policy for the way in which the plan should be operated, including agreeing performance targets (if any) and which employees should be invited to participate. Shares WAFV WAFV ʼ000 pence $ Shares awarded in August 2019 24 7280 88.56 Shares awarded in November 2019 20 7326 94.84 The fair values were determined using a modified version of the Monte Carlo model. This method incorporated expected dividends but no other features into the measurements of fair value. The grant date fair values of share awards disclosed in this section do not take account of service and non-market related performance conditions.

Commitments and contingent liab

Commitments and contingent liabilities	12 Months Ended
	Dec. 31, 2019
Legal Proceedings and Contingent Liabilities
Commitments and contingent liabilities	29 Commitments and contingent liabilities Commitments $m $m $m Contracts placed for future capital expenditure on Property, plant and equipment and 396 586 570 Guarantees and contingencies arising in the ordinary course of business, for which no security has been given, are not expected to result in any material financial loss. Research and development collaboration payments The Group has various ongoing collaborations, including in-licensing and similar arrangements with development partners. Such collaborations may require the Group to make payments on achievement of stages of development, launch or revenue milestones, although the Group generally has the right to terminate these agreements at no cost. The Group recognises research and development milestones as intangible assets once it is committed to payment, which is generally when the Group reaches set trigger points in the development cycle. Revenue-related milestones are recognised as intangible assets on product launch at a value based on the Group’s long-term revenue forecasts for the related product. The table below indicates potential development and revenue-related payments that the Group may be required to make under such collaborations. Years 5 Total Under 1 year Years 1 and 2 Years 3 and 4 and greater $m $m $m $m $m Future potential research and development milestone payments 9,956 438 1,479 1,581 6,458 Future potential revenue milestone payments 6,654 59 138 818 5,639 The table includes all potential payments for achievement of milestones under ongoing research and development arrangements. Revenue-related milestone payments represent the maximum possible amount payable on achievement of specified levels of revenue as set out in individual contract agreements, but exclude variable payments that are based on unit sales (e.g. royalty-type payments) which are expensed as the associated sale is recognised. The table excludes any payments already capitalised in the Financial Statements for the year ended 31 December 2019. The future payments we disclose represent contracted payments and, as such, are not discounted and are not risk adjusted. As detailed in the Risk section from page 246, the development of any pharmaceutical product candidate is a complex and risky process that may fail at any stage in the development process due to a number of factors (including items such as failure to obtain regulatory approval, unfavourable data from key studies, adverse reactions to the product candidate or indications of other safety concerns). The timing of the payments is based on the Group’s current best estimate of achievement of the relevant milestone. Environmental costs and liabilities The Group’s expenditure on environmental protection, including both capital and revenue items, relates to costs that are necessary for implementing internal systems and programmes, and meeting legal and regulatory requirements for processes and products. This includes investment to conserve natural resources and otherwise minimise the impact of our activities on the environment. They are an integral part of normal ongoing expenditure for carrying out the Group’s research, manufacturing and commercial operations and are not separated from overall operating and development costs. There are no known changes in legal, regulatory or other requirements resulting in material changes to the levels of expenditure for 2017, 2018 or 2019. In addition to expenditure for meeting current and foreseen environmental protection requirements, the Group incurs costs in investigating and cleaning up land and groundwater contamination. In particular, AstraZeneca has environmental liabilities at some currently or formerly owned, leased and third-party sites. In the US, Zeneca Inc., and/or its indemnitees, have been named as potentially responsible parties (PRPs) or defendants at approximately 13 sites where Zeneca Inc. is likely to incur future environmental investigation, remediation, operation and maintenance costs under federal, state, statutory or common law environmental liability allocation schemes (together, US Environmental Consequences). Similarly, Stauffer Management Company LLC (SMC), which was established in 1987 to own and manage certain assets of Stauffer Chemical Company acquired that year, and/or its indemnitees, have been named as PRPs or defendants at a number of sites where SMC is likely to incur US Environmental Consequences. AstraZeneca has also given indemnities to third parties for a number of sites outside the US. These environmental liabilities arise from legacy operations that are not currently part of the Group’s business and, at most of these sites, remediation, where required, is either completed or in progress. AstraZeneca has made provisions for the estimated costs of future environmental investigation, remediation, operation and maintenance activity beyond normal ongoing expenditure for maintaining the Group’s R&D and manufacturing capacity and product ranges, where a present obligation exists, it is probable that such costs will be incurred and they can be estimated reliably. With respect to such estimated future costs, there were provisions at 31 December 2019 in the aggregate of $96m (2018: $97m; 2017: $59m), mainly relating to the US. Where we are jointly liable or otherwise have cost-sharing agreements with third parties, we reflect only our share of the obligation. Where the liability is insured in part or in whole by insurance or other arrangements for reimbursement, an asset is recognised to the extent that this recovery is virtually certain. It is possible that AstraZeneca could incur future environmental costs beyond the extent of our current provisions. The extent of such possible additional costs is inherently difficult to estimate due to a number of factors, including: (i) the nature and extent of claims that may be asserted in the future; (ii) whether AstraZeneca has or will have any legal obligation with respect to asserted or unasserted claims; (iii) the type of remedial action, if any, that may be selected at sites where the remedy is presently not known; (iv) the potential for recoveries from or allocation of liability to third parties; and (v) the length of time that the environmental investigation, remediation and liability allocation process can take. As per our accounting policy on page 178, provisions for these costs are made when there is a present obligation and where it is probable that expenditure on remedial work will be required and a reliable estimate can be made of the cost. Notwithstanding and subject to the foregoing, we estimate the potential additional loss for future environmental investigation, remediation, remedial operation and maintenance activity above and beyond our provisions to be, in aggregate, between $86m and $143m (2018: $71m and $118m; 2017: $87m and $144m), which relates mainly to the US. Legal proceedings AstraZeneca is involved in various legal proceedings considered typical to its business, including actual or threatened litigation and/or actual or potential government investigations relating to employment matters, product liability, commercial disputes, pricing, sales and marketing practices, infringement of IP rights, and the validity of certain patents and competition laws. The more significant matters are discussed below. Most of the claims involve highly complex issues. Often these issues are subject to substantial uncertainties and, therefore, the probability of a loss, if any, being sustained and an estimate of the amount of any loss is difficult to ascertain. Consequently, for a majority of these claims, it is not possible to make a reasonable estimate of the expected financial effect, if any, that will result from ultimate resolution of the proceedings. In these cases, AstraZeneca discloses information with respect to the nature and facts of the cases. With respect to each of the legal proceedings described below, other than those for which provision has been made, we are unable to make estimates of the possible loss or range of possible losses at this stage, other than as set forth in this section. We also do not believe that disclosure of the amount sought by plaintiffs, if known, would be meaningful with respect to those legal proceedings. This is due to a number of factors, including (i) the stage of the proceedings (in many cases trial dates have not been set) and the overall length and extent of pre-trial discovery; (ii) the entitlement of the parties to an action to appeal a decision; (iii) clarity as to theories of liability, damages and governing law; (iv) uncertainties in timing of litigation; and (v) the possible need for further legal proceedings to establish the appropriate amount of damages, if any. While there can be no assurance regarding the outcome of any of the legal proceedings referred to in this Note 29, based on management’s current and considered view of each situation, we do not currently expect them to have a material adverse effect on our financial position. This position could of course change over time, not least because of the factors referred to above. In cases that have been settled or adjudicated, or where quantifiable fines and penalties have been assessed and which are not subject to appeal (or other similar forms of relief), or where a loss is probable and we are able to make a reasonable estimate of the loss, we generally indicate the loss absorbed or make a provision for our best estimate of the expected loss. Where it is considered that the Group is more likely than not to prevail, legal costs involved in defending the claim are charged to profit as they are incurred. Where it is considered that the Group has a valid contract which provides the right to reimbursement (from insurance or otherwise) of legal costs and/or all or part of any loss incurred or for which a provision has been established, and we consider recovery to be virtually certain, the best estimate of the amount expected to be received is recognised as an asset. Assessments as to whether or not to recognise provisions or assets, and of the amounts concerned, usually involve a series of complex judgements about future events and can rely heavily on estimates and assumptions. AstraZeneca believes that the provisions recorded are adequate based on currently available information and that the insurance recoveries recorded will be received. However, given the inherent uncertainties involved in assessing the outcomes of these cases, and in estimating the amount of the potential losses and the associated insurance recoveries, we could in the future incur judgments or insurance settlements that could have a material adverse effect on our results in any particular period. IP claims include challenges to the Group’s patents on various products or processes and assertions of non-infringement of patents. A loss in any of these cases could result in loss of patent protection on the related product. The consequences of any such loss could be a significant decrease in Product Sales, which could have a material adverse effect on our results. The lawsuits filed by AstraZeneca for patent infringement against companies that have filed ANDAs in the US, seeking to market generic forms of products sold by the Group prior to the expiry of the applicable patents covering these products, typically also involve allegations of non-infringement, invalidity and unenforceability of these patents by the ANDA filers. In the event that the Group is unsuccessful in these actions or the statutory 30-month stay expires before a ruling is obtained, the ANDA filers involved will also have the ability, subject to FDA approval, to introduce generic versions of the product concerned. AstraZeneca has full confidence in, and will vigorously defend and enforce, its IP. Over the course of the past several years, including in 2019, a significant number of commercial litigation claims in which AstraZeneca is involved have been resolved, particularly in the US, thereby reducing potential contingent liability exposure arising from such litigation. Similarly, in part due to patent litigation and settlement developments, greater certainty has been achieved regarding possible generic entry dates with respect to some of our patented products. At the same time, like other companies in the pharmaceutical sector and other industries, AstraZeneca continues to be subject to government investigations around the world. Patent litigation Brilinta (ticagrelor) US patent proceedings In 2015 and subsequently, in response to Paragraph IV notices from ANDA filers, AstraZeneca filed patent infringement lawsuits in the US District Court for the District of Delaware (the District Court) relating to patents listed in the FDA Orange Book with reference to Brilinta. In 2019, AstraZeneca entered into several separate settlements and the District Court entered consent judgments to dismiss several of the litigations. Additional proceedings are ongoing in the District Court. No trial date has been set. Patent proceedings outside the US In Canada, in September 2017, Apotex Inc. (Apotex) challenged the patents listed on the Canadian Patent Register with reference to Brilinta. AstraZeneca discontinued the proceeding against Apotex in February 2019 after Apotex withdrew its challenge. In Canada, in October 2018, Taro Pharmaceuticals Inc. (Taro) challenged the patents listed on the Canadian Patent Register with reference to Brilinta. AstraZeneca commenced an infringement action against Taro. The action was discontinued in September 2019 after Taro withdrew its challenge. Calquence (acalabrutinib) US patent proceedings In November 2017, Pharmacyclics LLC (Pharmacyclics, a company in the AbbVie group) filed a patent infringement lawsuit in the US District Court for the District of Delaware (the District Court) against Acerta Pharma and AstraZeneca relating to Calquence. In April 2018, AstraZeneca and Acerta Pharma filed a complaint in the District Court against Pharmacyclics and AbbVie, Inc. alleging that their drug, Imbruvica, infringes a US patent owned by Acerta Pharma. In November 2018, Janssen Biotech, Inc. (Janssen) intervened as a defendant. In October 2019, AstraZeneca entered into settlement agreements with Pharmacyclics and Janssen resolving all patent litigation between the parties relating to Calquence and Imbruvica. A provision has been taken. In October 2019, an amendment to the share purchase and option agreement (SPOA) with the sellers of Acerta Pharma (originally entered into in December 2015) came into effect, changing certain terms of the SPOA on both the timing and also reducing the maximum consideration that would be required to be made to acquire the remaining outstanding shares of Acerta Pharma if the options are exercised. The payments would be made in similar annual instalments commencing at the earliest from 2022 through to 2024, subject to the options being exercised. The changes to the terms have been reflected in the assumptions used to calculate the amortised cost of the option liability as at 31 December 2019 of $2,146m (2018: $1,838m; 2017: $1,823m). Daliresp (roflumilast) US patent proceedings In 2015 and subsequently, in response to Paragraph IV notices from ANDA filers, AstraZeneca filed patent infringement lawsuits in the US District Court for the District of New Jersey (the District Court) relating to patents listed in the FDA Orange Book with reference to Daliresp. In 2019, AstraZeneca entered into several separate settlements and the District Court entered consent judgments to dismiss several of the litigations. Additional proceedings are ongoing in the District Court. No trial date has been set. Farxiga (dapagliflozin) US patent proceedings In 2018, in response to Paragraph IV notices, AstraZeneca initiated ANDA litigation against Zydus Pharmaceuticals (USA) Inc. (Zydus) in the US District Court for the District of Delaware. In its complaint, AstraZeneca alleged that Zydus’ generic version of Farxiga, if approved and marketed, would infringe AstraZeneca’s US Patent Nos. 6,414,126 and 6,515,117. Zydus has counterclaimed for non-infringement of AstraZeneca’s US Patent Nos. 7,851,502; 7,919,598; 8,221,786; 8,361,972; 8,501,698; 8,685,934; and 8,716,251. Proceedings are ongoing and trial is scheduled for February 2021. Faslodex (fulvestrant) US patent proceedings AstraZeneca has filed patent infringement lawsuits in the US District Court for the District of New Jersey (the District Court) relating to four patents listed in the FDA Orange Book with reference to Faslodex after receiving a number of Paragraph IV notices relating to multiple ANDAs or NDAs submitted pursuant to 21 U.S.C. § 355(b)(2) seeking FDA approval to market generic versions of Faslodex prior to the expiration of AstraZeneca’s patents. In July 2016, AstraZeneca settled one of these, the lawsuit brought against Sandoz, Inc. (Sandoz), and the District Court entered a consent judgment, which included an injunction preventing Sandoz from launching a generic fulvestrant product until March 2019, or earlier in certain circumstances. Between 2016 and 2019, AstraZeneca resolved all of the remaining lawsuits, and the District Court also entered consent judgments ending those lawsuits. In October 2019, AstraZeneca filed a new patent infringement lawsuit in the District Court relating to all four listed patents after receiving a new Paragraph IV notice relating to an ANDA seeking FDA approval to market generic versions of Faslodex prior to the expiration of AstraZeneca’s patents. Patent proceedings outside the US In Spain, in January 2016 and July 2017, the Barcelona Commercial Court ordered preliminary injunctions based on the Spanish part of European Patent Nos. EP 1,250,138 and EP 2,266,573, respectively preventing Sandoz Farmacéutica, S.A. (Sandoz) and Teva Pharm S.L.U. (Teva) from launching generic Faslodex in Spain. Sandoz appealed and, in December 2017, the Barcelona Court of Appeals revoked and lifted the preliminary injunction against Sandoz. Patent infringement and patent invalidity proceedings are ongoing against various parties. In France, in June 2018, the Commercial Court of Nanterre denied AstraZeneca’s request for a preliminary injunction against Sandoz SAS (Sandoz) to prevent a potential launch of its generic Faslodex in France. Additionally, in June 2018, Sandoz served AstraZeneca with an invalidation writ against European Patent Nos. EP 2,266,573; EP 1,250,138; and EP 1,272,195. Patent infringement and patent invalidity proceedings are ongoing with Sandoz. In Germany, in January 2017, the German Federal Patent Court declared the German part of European Patent No. EP 1,250,138 (the ‘138 patent) invalid. In April 2019, the German Federal Court of Justice upheld the January 2017 decision and determined the ‘138 patent to be invalid. In November 2019, the German Federal Patent Court declared the German part of European Patent No. EP 1,272,195 invalid. In Italy, Actavis Group Ptc ehf and Actavis Italy S.p.A. filed actions alleging that the Italian part of the ‘138 patent and European Patent No. EP 2,266,573 (the ‘573 patent) are invalid. In July 2018, the Court of Turin determined that the ‘138 patent is invalid. In July 2019, the Court of Milan determined that the ‘573 patent is invalid. Patent infringement and patent invalidity proceedings are ongoing against various parties. Imfinzi (durvalumab) US patent proceedings In July 2017, Bristol-Myers Squibb, E.R. Squibb & Sons LLC, Ono Pharmaceutical Co and Tasuku Honjo filed a patent infringement action in the US District Court for the District of Delaware relating to AstraZeneca’s commercialisation of Imfinzi. The case was dismissed without prejudice on 14 June 2019. Movantik (naloxegol) US patent proceedings In December 2018, AstraZeneca initiated ANDA litigation against Apotex, Inc. and Apotex Corp. (together Apotex) and against MSN Laboratories (MSN) in the US District Court for the District of Delaware. In its complaint, AstraZeneca alleges that the generic companies’ versions of Movantik, if approved and marketed, would infringe US Patent No. 9,012,469 (the ‘469 patent). A trial has been scheduled for March 2021. In November 2019, AstraZeneca initiated ANDA litigation against Aurobindo Pharma U.S.A. in the US District Court for the District of Delaware. In its complaint, AstraZeneca alleges that the generic company’s versions of Movantik, if approved and marketed, would infringe the ‘469 patent. Onglyza (saxagliptin) Patent proceedings outside the US In Canada, in November 2019, Sandoz Canada Inc. sent a Notice of Allegation to AstraZeneca challenging the validity of Canadian substance Patent No. 2402894 (expiry March 2021) and formulation Patent No. 2568391 (expiry May 2025) related to Onglyza. AstraZeneca commenced an action in response in January 2020. Roxadustat Patent proceedings outside the US In Canada, in May 2018, Akebia Therapeutics, Inc. filed an impeachment action in the Federal Court of Canada alleging invalidity of several of FibroGen, Inc.’s (FibroGen) method of use patents (Canadian Patent Nos. 2467689; 2468083; and 2526496) related to HIF prolyl hydroxylase inhibitors. AstraZeneca is the exclusive licensee of FibroGen in Canada. AstraZeneca and FibroGen are defending the action. Symbicort (budesonide/formoterol fumarate dihydrate) US patent proceedings Beginning in October 2018, AstraZeneca initiated ANDA litigation against Mylan Pharmaceuticals Inc. (Mylan), Mylan Laboratories Limited, Mylan Inc., and Mylan N.V. (collectively, the Mylan Entities) and 3M Company (3M) and, separately, ANDA litigation against Teva Pharmaceuticals USA, Inc. (Teva) and Catalent Pharma Solutions, LLC (Catalent) in the US District Court for the District of Delaware (Delaware District Court). AstraZeneca also filed a similar action against the Mylan Entities in the US District Court for the Northern District of West Virginia (West Virginia District Court). In its complaints, AstraZeneca alleges that the defendants’ generic versions of Symbicort , if approved and marketed, would infringe AstraZeneca’s US Patent Nos. 7,759,328; 8,143,239; 8,575,137; and 7,967,011. In March 2019, following stipulations filed by the parties, the Delaware and West Virginia District Courts dismissed without prejudice Mylan Laboratories Limited, Mylan Inc., and Mylan N.V. from those actions. In May 2019, AstraZeneca filed a Second Amended Complaint in each of the Delaware District Court actions adding allegations that the defendants’ proposed generic versions of Symbicort , if approved and marketed, would infringe AstraZeneca’s US Patent No. 10,166,247 (the ‘247 patent). In June 2019, Teva and Catalent responded to the Second Amended Complaint and alleged that their proposed generic product does not infringe the ‘247 patent and/or that the ‘247 patent is invalid and/or unenforceable. AstraZeneca decided to no longer assert patent infringement of US Patent No. 7,967,011 against Teva and Catalent. In October 2019, the Delaware District Court transferred the Delaware action with Mylan and 3M to the West Virginia District Court. In November 2019, AstraZeneca filed an Amended Complaint in the West Virginia District Court against Mylan and 3M adding allegations that their proposed generic version of Symbicort, if approved and marketed, would infringe the ‘247 patent and removing allegations of infringement of US Patent No. 7,967,011. In November 2019, Mylan and 3M responded to the Amended Complaint and alleged that their proposed generic product does not infringe the asserted patents and/or that the asserted patents are invalid and/or unenforceable. In December 2019, AstraZeneca settled its ANDA action with Teva and Catalent and that matter is now closed. The trial of the Mylan and 3M matter is scheduled for July 2020. Tagrisso (osimertinib) US patent proceedings In February 2020, in response to Paragraph IV notices from multiple ANDA filers, AstraZeneca filed patent infringement lawsuits in the US District Court for the District of Delaware. In its complaint, AstraZeneca alleged that a generic vision of Tagrisso , if approved and marketed would infringe AstraZeneca’s US Patent No. 10,183, 020. No trial date has been set. Product liability litigation Byetta / Bydureon (exenatide) In the US, Amylin Pharmaceuticals, LLC, a wholly owned subsidiary of AstraZeneca, and/or AstraZeneca are among multiple defendants in various lawsuits filed in federal and state courts involving claims of physical injury from treatment with Byetta and/or Bydureon. The lawsuits allege several types of injuries including pancreatitis, pancreatic cancer, thyroid cancer, and kidney cancer. A multidistrict litigation was established in the US District Court for the Southern District of California (the District Court) in regard to the alleged pancreatic cancer cases in federal courts. Further, a coordinated proceeding has been established in Los Angeles, California in regard to the various lawsuits in California state courts. In November 2015, the District Court granted the defendants’ motion for summary judgment and dismissed all claims alleging pancreatic cancer that accrued prior to 11 September 2015. In November 2017, the US Court of Appeals for the Ninth Circuit vacated the District Court's order and remanded for further discovery. In November 2018, the Court of Appeal for the State of California annulled the judgment from the California state coordinated proceeding and remanded for further discovery. Farxiga (dapagliflozin) and Xigduo (dapagliflozin/metformin HCl) In several jurisdictions in the US, AstraZeneca has been named as a defendant in lawsuits involving plaintiffs claiming physical injury, including diabetic ketoacidosis and kidney failure, from treatment with Farxiga and/or Xigduo XR . In April 2017, the Judicial Panel on Multidistrict Litigation ordered transfer of any currently pending cases as well as of any similar, subsequently filed cases to a coordinated and consolidated pre-trial multidistrict litigation (MDL) proceeding in the US District Court for the Southern District of New York. A majority of these claims have been resolved or dismissed, and the MDL has been administratively closed. In two jurisdictions in the US, AstraZeneca has been named as a defendant in lawsuits involving plaintiffs claiming physical injury, including Fournier's Gangrene and necrotizing fasciitis, from treatment with Farxiga and/or Xigduo XR. Nexium (esomeprazole magnesium) and Losec / Prilosec (omeprazole) US proceedings In the US, AstraZeneca is defending various lawsuits brought in federal and state courts involving multiple plaintiffs claiming that they have been diagnosed with various injuries following treatment with proton pump inhibitors, including Nexium and Prilosec. In May 2017, counsel for a group of such plaintiffs claiming that they have been diagnosed with kidney injuries filed a motion with the Judicial Panel on Multidistrict Litigation (JPML) seeking the transfer of any currently pending federal court cases as well as any similar, subsequently filed cases to a coordinated and consolidated pre-trial multidistrict litigation (MDL) proceeding. In August 2017, the JPML granted the motion and consolidated the pending federal court cases in an MDL proceeding in federal court in New Jersey for pre-trial purposes. A trial in the MDL is scheduled for November 2021. In July 2019, counsel for a similarly defined group of plaintiffs with claims pending in New Jersey state courts petitioned the New Jersey State Administrative Director of the Courts to centralise judicial management of all plaintiffs’ claims alleging kidney injuries pending in that State in a coordinated multicounty litigation (MCL) proceeding. The MCL has been centralised in Atlantic County. Canada proceedings In Canada, in July and August 2017, AstraZeneca was served with three putative class action lawsuits. Two of the lawsuits seek authorisation to represent individual residents in Canada who allegedly suffered kidney injuries from the use of proton pump inhibitors, including Nexium and Losec. In August 2019, the third lawsuit, filed in Quebec, was dismissed. Onglyza (saxagliptin) and Kombiglyze (saxagliptin and metformin) In the US, AstraZeneca is defending various lawsuits alleging heart failure, cardiac injuries, and/or death from treatment with Onglyza or Kombiglyze . In February 2018, the Judicial Panel on Multidistrict Litigation ordered the transfer of various pending federal actions to the US District Court for the Eastern District of Kentucky (District Court) for consolidated pre-trial proceedings with the federal actions pending in the District Court. The previously disclosed California State Court coordinated proceeding remains pending in California. Commercial litigation Amplimmune In the US, in June 2017, AstraZeneca was served with a lawsuit filed by the stockholders' agents for Amplimmune, Inc. (Amplimmune) in Delaware State Court that alleged, among other things, breaches of contractual obligations relating to a 2013 merger agreement between AstraZeneca and Amplimmune. Trial is scheduled for February 2020. Array BioPharma In the US, in December 2017, AstraZeneca was served with a complaint filed in New York State Court by Array BioPharma, Inc. (Array) that alleged, among other things, breaches of contractual obligations relating to a 2003 collaboration agreement between AstraZeneca and Array. Ocimum lawsuit In December 2015, AstraZeneca was served with a complaint filed by Ocimum Biosciences, Ltd. (Ocimum) in the Superior Court for the State of Delaware that alleges, among other things, breaches of contractual obligations and misappropriation of trade secrets, relating to a now terminated 2001 licensing agreement between AstraZeneca and Gene Logic, Inc. (Gene Logic), the rights to which Ocimum purports to have acquired from Gene Logic. In December 2019, the court granted AstraZeneca’s motion for summary judgment and dismissed the case. Seroquel XR Antitrust Litigation In the US in 2019, AstraZeneca was named in several related complaints brought in the US District Court for the Southern District of New York, including several putative class action lawsuits that were purportedly brought on behalf of classes of direct purchasers or end payors of Seroquel XR, that allege AstraZeneca and generic drug manufacturers violated antitrust laws when settling patent litigation related to Seroquel XR. Toprol-XL (metoprolol succinate) In the US, in October 2016, AstraZeneca completed its sale of certain assets related to the US rights to Toprol-XL and AstraZeneca’s authorised generic metoprolol succinate product to Aralez Pharmaceuticals Trading DAC (Aralez). In August 2018, Aralez commenced voluntary insolvency proceedings and AstraZeneca filed a proof of claim in those proceedings asserting its unsecured claims. In October 2018, Aralez filed a motion in the Bankruptcy Court seeking to sell the US rights to Toprol-XL and its authorised generic and AstraZeneca filed an objection to the proposed sale. In March 2019, AstraZeneca entered into an agreement with the senior secured creditor and the settlement has now been approved by the Bankruptcy Court, bringing this matter to a close. Other commercial litigation Anti-Terrorism Act Civil Lawsuit In the US, in October 2017, AstraZeneca and certain other pharmaceutical and/or medical device companies were named as defendants in a complaint filed in the US District Court for the District of Columbia by US nationals (or their estates, survivors, or heirs) who were killed or wounded in Iraq between 2005 and 2011. The plaintiffs allege that the defendants violated the US Anti-Terrorism Act and various state laws by selling pharmaceuticals and medical supplies to the Iraqi Ministry of Health. Government investigations/proceedings Crestor (rosuvastatin calcium) Qui tam litigation In the US, in January and February 2014, AstraZeneca was served with lawsuits filed in the US District Court for the District of Delaware under the qui tam (whistleblower) provisions of the federal False Claims Act and related state statutes, alleging that AstraZeneca directed certain employees to promote Crestor off-label and provided unlawful remuneration to physicians in connection with the promotion of Crestor. The DOJ and all US states have declined to intervene in the lawsuits. In March 2019, AstraZeneca filed a motion to dismiss the complaint. Oral argument on the motion to dismiss is scheduled for February 2020. Iraqi Ministry of Health Anti-Corruption Probe In July 2018, AstraZeneca, along with other compani

Statutory and other information

Statutory and other information	12 Months Ended
	Dec. 31, 2019
Statutory and other information
Statutory and other information	30 Statutory and other information $m $m $m Fees payable to PricewaterhouseCoopers LLP and its associates: Group audit fee 3.9 3.8 3.0 Fees payable to PricewaterhouseCoopers LLP and its associates for other services: The audit of subsidiaries pursuant to legislation 8.3 9.4 5.7 Attestation under s404 of Sarbanes-Oxley Act 2002 2.0 2.0 2.0 Audit-related assurance services 0.3 0.8 0.4 Tax compliance services – 0.1 – Other assurance services 0.1 0.9 – Fees payable to PricewaterhouseCoopers Associates in respect of the Group’s pension schemes: The audit of subsidiaries’ pension schemes 0.3 0.4 – 14.9 17.4 11.1 $0.7m of fees payable in 2019 are in respect of the 2018 Group audit and audit of subsidiaries (2018: $3.2m in respect of the 2017 audit). Related party transactions The Group had no material related party transactions which might reasonably be expected to influence decisions made by the users of these Financial Statements. Key management personnel compensation Key management personnel are defined for the purpose of disclosure under IAS 24 ‘Related Party Disclosures’ as the members of the Board and the members of the SET. $’000 $’000 $’000 Short-term employee benefits 31,329 32,523 28,274 Post-employment benefits 1,766 2,387 2,469 Share-based payments 19,210 23,605 16,452 52,305 58,515 47,195 Total remuneration is included within employee costs (see Note 28).

Subsequent events

Subsequent events	12 Months Ended
	Dec. 31, 2019
Subsequent events
Subsequent events	31 Subsequent events Following the recommendation from an independent Data Monitoring Committee, AstraZeneca decided in January 2020 to terminate the Phase III STRENGTH trial for Epanova, due to its low likelihood of demonstrating a benefit to patients with MDS who are at increased risk of CV disease. This was considered to be an adjusting event after the reporting period, resulting in a full impairment of the Epanova intangible asset of $533m recorded in Research and development expense in FY 2019, and a provision for inventory and supply-related costs of $115m recorded in Cost of sales, also in FY 2019. In January 2020, the Company announced that it had agreed to divest the global commercial rights to a number of established hypertension medicines, including Inderal , Tenormin and Zestril to Atnahs Pharma. Atnahs Pharma will make an upfront payment of $350m to AstraZeneca. AstraZeneca may also receive future sales-contingent payments of up to $40m between 2020 and 2022. Income arising from the upfront and future payments will be reported in AstraZeneca’s financial statements within Other operating income and expense. The divestment is expected to complete in the first quarter of 2020. In January 2020, the Company announced that it will recover the global rights to brazikumab (formerly MEDI2070), a monoclonal antibody targeting IL23, from Allergan. Brazikumab is currently in a Phase IIb/III programme in Crohn’s disease and a Phase IIb trial in ulcerative colitis. AstraZeneca and Allergan will terminate their existing license agreement and all rights to brazikumab will revert to AstraZeneca. The transaction is expected to complete in the first quarter of 2020, subject to regulatory approvals associated with AbbVie’s proposed acquisition of Allergan and its timely completion. Under the termination agreement, Allergan will fund up to an agreed amount, estimated to be the total costs expected to be incurred by AstraZeneca until completion of development for brazikumab in Crohn’s disease and ulcerative colitis, including the development of a companion diagnostic. Pursuant to the 2012 collaboration between Amgen and AstraZeneca to jointly develop and commercialise a clinical-stage inflammation portfolio, Amgen is entitled to receive a high single-digit to low double-digit royalty on sales of brazikumab if approved and launched. This includes the original inventor royalty. Other than this, AstraZeneca will own all rights and benefits arising from the medicine with no other payments due to Amgen. In January 2020, AstraZeneca sold a proportion of its equity portfolio receiving consideration of $184m.

Group Accounting Policies (Poli

Group Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2019
Group Accounting Policies
Basis of accounting and preparation of financial information	Basis of accounting and preparation of financial information The Consolidated Financial Statements have been prepared under the historical cost convention, modified to include revaluation to fair value of certain financial instruments as described below, in accordance with the Companies Act 2006 and International Financial Reporting Standards (IFRSs) as adopted by the EU (adopted IFRSs) in response to the IAS regulation (EC 1606/2002). The Consolidated Financial Statements also comply fully with IFRSs as issued by the International Accounting Standards Board (IASB). IFRS 3 AstraZeneca had proposed to adopt the October 2018 update to IFRS 3, which changed the definition of a business, from 1 January 2019, and has previously published interim financial statements on this basis. This was done on the basis that it was considered highly probable that the amendment would be endorsed by the European Commission during 2019 before its effective date of 1 January 2020 with early adoption permitted, following a recommendation from the European Financial Reporting Advisory Group (EFRAG), the association set up to provide advice to the European Commission on whether newly issued or revised IFRSs meet the criteria for endorsement for use in the EU. The change in definition of a business within IFRS 3 introduces an optional concentration test to perform a simplified assessment of whether an acquired set of activities and assets is or is not a business on a transaction by transaction basis. This change was expected to provide more reliable and comparable information about certain transactions as it provides more consistency in accounting in the pharmaceutical industry for substantially similar transactions that under the previous definition may have been accounted for in different ways despite limited differences in substance. During the year, the EFRAG amended its guidance on the expected date of endorsement, and the European Commission is expected to endorse the change during 2020, with application required for accounting periods beginning on or after 1 January 2020. Accordingly this amendment has not been applied in the Consolidated Financial Statements, however this has not resulted in a different accounting treatment for any transactions undertaken during the year when compared with the amended version of IFRS 3, pending endorsement. IFRS 16 IFRS 16 ‘Leases’ is effective for accounting periods beginning on or after 1 January 2019 and replaces IAS 17 ‘Leases’. It eliminates the classification of leases as either operating leases or finance leases and, instead, introduces a single lessee accounting model. The adoption of IFRS 16 resulted in the Group recognising lease liabilities, and corresponding ‘right-of-use’ assets for arrangements that were previously classified as operating leases. The Group’s principal lease arrangements are for property, most notably a portfolio of office premises, and for a global car fleet, utilised primarily by our sales and marketing teams. The Group has adopted IFRS 16 using a modified retrospective approach with the cumulative effect of initially applying the standard as an adjustment to the opening balance of retained earnings at 1 January 2019. The standard permits a choice on initial adoption, on a lease-by-lease basis, to measure the right-of-use asset at either its carrying amount as if IFRS 16 had been applied since the commencement of the lease, or an amount equal to the lease liability, adjusted for accruals or prepayments. The Group has elected to measure the right-of-use asset equal to the lease liability, with the result of no net impact on opening retained earnings and no restatement of prior period comparatives. Initial adoption resulted in the recognition of right-of-use assets of $722m and lease liabilities of $720m. The weighted average incremental borrowing rate applied to the lease liabilities on 1 January 2019 was 3%. The Group is using one or more practical expedients on transition to leases previously classified as operating leases, including electing to not apply the retrospective treatment to leases for which the term ends within 12 months of initial application, electing to apply a single discount rate to portfolios of leases with similar characteristics, reliance on previous assessments on whether arrangements contain a lease and whether leases are onerous, excluding initial direct costs from the initial measurement of the right-of-use asset, and using hindsight in determining the lease term where the contract contains options to extend or terminate the lease. Judgements made in calculating the initial impact of adoption include determining the lease term where extension or termination options exist. In such instances, all facts and circumstances that may create an economic incentive to exercise an extension option, or not exercise a termination option, have been considered to determine the lease term. Extension periods (or periods after termination options) are only included in the lease term if the lease is reasonably certain to be extended (or not terminated). Estimates include calculating the discount rate which is based on the incremental borrowing rate. The Group is applying IFRS 16’s low-value and short-term exemptions. While the IFRS 16 opening lease liability is calculated differently from the previous operating lease commitment calculated under the previous standard, there are no material differences between the positions. The adoption of IFRS 16 has had no impact on the Group’s net cash flows, although a presentation change has been reflected whereby cash outflows of $186m are now presented as financing, instead of operating. There is an immaterial benefit to Operating profit and a corresponding increase in Finance expense from the presentation of a portion of lease costs as interest costs. Profit before tax, taxation and EPS have not been materially impacted. IFRIC 23 IFRIC 23 ‘Uncertainty Over Income Tax Treatments’ is effective for accounting periods beginning on or after 1 January 2019 and provides further clarification on how to apply the recognition and measurement requirements in IAS 12 ‘Income Taxes’. It is applicable where there is uncertainty over income tax treatments. The EU endorsed IFRIC 23 on 24 October 2018. The adoption of IFRIC 23 has principally resulted in an adjustment in the value of tax liabilities because IFRIC 23 requires the Group to measure the effect of uncertainty on income tax positions using either the most likely amount or the expected value amount depending on which method is expected to better reflect the resolution of the uncertainty. The Group has retrospectively applied IFRIC 23 from 1 January 2019 recognising the cumulative effect of initially applying the interpretation as decreases to income tax payable of $51m and to trade and other payables of $3m, and a corresponding adjustment to the opening balance of retained earnings of $54m. There is no restatement of the comparative information as permitted in the interpretation. IFRS 9, IAS 39, IFRS 7 The Group has early adopted the amendments to IFRS 9 'Financial Instruments', IAS 39 'Financial Instruments: Recognition and Measurement' and IFRS 7 'Financial Instruments: Disclosures'. These relate to interbank offered rates (IBORs) reform and were endorsed by the EU on 6 January 2020. The replacement of benchmark interest rates such as LIBOR and other IBORs is a priority for global regulators. The amendments provide relief from applying specific hedge accounting requirements to hedge relationships directly affected by IBOR reform and have the effect that IBOR reform should generally not cause hedge accounting to terminate. There is no financial impact from the early adoption of these amendments. The Group has one IFRS 9 designated hedge relationship that is potentially impacted by IBOR reform: our euro 300m cross currency interest rate swap in a fair value hedge relationship with euro 300m of our euro 750m 0.875% 2021 non-callable bond. This swap references three month USD LIBOR and uncertainty arising from the Group's exposure to IBOR reform will cease when the swap matures in 2021. The implications on the wider business of IBOR reform will be assessed during 2020. Collaboration Revenue Effective from 1 January 2019, the Group updated the presentation of an element of Total Revenue within the Statement of Comprehensive Income and changed the classification of some income to reflect the increasing importance of collaborations to AstraZeneca. Historically, Externalisation Revenue formed part of Total Revenue and only included income arising from collaborative transactions involving AstraZeneca's medicines, whether internally developed or previously acquired. Such income included upfront consideration, milestone receipts, profit share income and royalties, as well as other income from collaborations. The updated category of Collaboration Revenue includes all income previously included within Externalisation Revenue, as well as income of a similar nature arising from transactions where AstraZeneca has acquired an interest in a medicine and as part of the acquisition entered into an active collaboration with the seller. This change is a result of the growing importance of collaborations to AstraZeneca. Income arising from all collaborations, other than product sales, will be recognised within the Collaboration Revenue element of Total Revenue. Historically there has been no collaboration income arising from such acquisitions, and therefore no prior year restatement of financial results is required as a result of this change. Income from disposals of assets and businesses including royalties and milestones, where the Group does not retain a significant continued interest, continue to be recorded in Other Operating Income and Expense. The Consolidated Financial Statements are presented in US dollars, which is the Company’s functional currency. In preparing their individual financial statements, the accounting policies of some overseas subsidiaries do not conform with IASB issued IFRSs. Therefore, where appropriate, adjustments are made in order to present the Consolidated Financial Statements on a consistent basis.
Basis for preparation of Financial Statements on a going concern basis	Basis for preparation of Financial Statements on a going concern basis The Group has considerable financial resources available. As at 31 December 2019, the Group has $10.4bn in financial resources (cash and cash equivalent balances of $5.4bn, $0.9bn of liquid fixed income securities and undrawn committed bank facilities of $4.1bn, of which $3.4bn is available until April 2022, $0.5bn is available until November 2020 (extendable to November 2021) and $0.2bn is available until December 2020, with only $2.0bn of borrowings due within one year). The Group’s revenues are largely derived from sales of products which are covered by patents which provide a relatively high level of resilience and predictability to cash inflows, although government price interventions in response to budgetary constraints are expected to continue to adversely affect revenues in many of our mature markets. However, we anticipate new revenue streams from both recently launched medicines and products in development, and the Group has a wide diversity of customers and suppliers across different geographic areas. Consequently, the Directors believe that, overall, the Group is well placed to manage its business risks successfully. Accordingly, they continue to adopt the going concern basis in preparing the Annual Report and Financial Statements.
Estimates and judgements	Estimates and judgements The preparation of the Financial Statements in conformity with generally accepted accounting principles requires management to make estimates and judgements that affect the reported amounts of assets and liabilities at the date of the Financial Statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The accounting policy descriptions set out the areas where judgements and estimates need exercising, the most significant of which include the following Key Judgements and Significant Estimates: > revenue recognition – see Revenue Accounting Policy on page 174 and Note 1 on page 180 > expensing of internal development expenses – see Research and Development Policy on page 174 > impairment reviews of Intangible assets – see Note 10 on page 191 > useful economic life of Intangibles assets – see Research and Development Policy on page 175 and Note 10 on page 192 > business combinations and Goodwill (and Contingent consideration arising from business combinations) – see Business Combinations and Goodwill Policy on page 177 and Note 20 on page 200 > litigation liabilities – see Litigation and Environmental Liabilities within Note 29 on page 221 > operating segments – see Note 6 on page 186 > employee benefits – see Note 22 on page 207) > taxation – see Taxation Policy on page 175, Note 29 on page 225 and Note 29 on page 224 Financial risk management policies are detailed in Note 27 to the Financial Statements from page 210. AstraZeneca’s management considers the following to be the most important accounting policies in the context of the Group’s operations.
Revenue	Revenue Revenues comprise Product Sales and Collaboration Revenue. Product Sales are revenues arising from contracts with customers. Collaboration Revenue arises from other contracts, however, the recognition and measurement principles of IFRS 15 ‘Revenue from Contracts with Customers’ are applied as set out below. Prior to 1 January 2018, the Group applied IAS 18 ‘Revenue’. On adoption of IFRS 15 on 1 January 2018, there was no material impact on the revenue streams from the supply of goods and associated rebates and returns provisions or Collaboration Revenue. The timing of the recognition of Product Sales and the basis for the estimates of sales deductions under IFRS 15 are consistent with those adopted under IAS 18. Revenues exclude inter-company revenues and value-added taxes. Product Sales Product Sales represent net invoice value less estimated rebates, returns and chargebacks, which are considered to be variable consideration and include significant estimates. Sales are recognised when the control of the goods has been transferred to a third party. This is usually when title passes to the customer, either on shipment or on receipt of goods by the customer, depending on local trading terms. In markets where returns are significant, estimates of returns are accounted for at the point revenue is recognised. Revenue is not recognised in full until it is highly probable that a significant reversal in the amount of cumulative revenue recognised will occur. Rebates are amounts payable or credited to a customer, usually based on the quantity or value of Product Sales to the customer for specific products in a certain period. Product sales rebates, which relate to Product Sales that occur over a period of time, are normally issued retrospectively. At the time Product Sales are invoiced, rebates and deductions that the Group expects to pay, are estimated. These rebates typically arise from sales contracts with government payers, third party managed care organisations, hospitals, long-term care facilities, group purchasing organisations and various state programmes. For the markets where returns are significant, we estimate the quantity and value of goods which may ultimately be returned at the point of sale. Our returns accruals are based on actual experience over the preceding 12 months for established products together with market-related information such as estimated stock levels at wholesalers and competitor activity which we receive via third-party information services. For newly launched products, we use rates based on our experience with similar products or a predetermined percentage. When a product faces generic competition, particular attention is given to the possible levels of returns and, in cases where the circumstances are such that the level of Product Sales are considered highly probable to reverse, revenues are only recognised when the right of return expires, which is generally on ultimate prescription of the product to patients. The methodology and assumptions used to estimate rebates and returns are monitored and adjusted regularly in the light of contractual and legal obligations, historical trends, past experience and projected market conditions. Once the uncertainty associated with returns is resolved, revenue is adjusted accordingly. Under certain collaboration agreements which include a profit sharing mechanism, our recognition of Product Sales depends on which party acts as principal in sales to the end customer. In the cases where AstraZeneca acts as principal, we record 100% of sales to the end customer. Collaboration Revenue Collaboration Revenue includes income from collaborative arrangements where either the Group has sold certain rights associated with those products, but retains a significant ongoing economic interest or has acquired a significant interest from a third party. Significant interest can include ongoing supply of finished goods, participation in profit share arrangements or direct interest from sales of medicines. These arrangements may include development arrangements, commercialisation arrangements and collaborations. Income may take the form of upfront fees, milestones, profit sharing and royalties and includes profit share income arising from sales made as principal by a collaboration partner. Timing of recognition of clinical and regulatory milestones is considered to be a key judgement. There can be significant uncertainty over whether it is highly probable that there would not be a significant reversal of revenue in respect of specific milestones if these are recognised before they are triggered due to them being subject to the actions of third parties. In general, where the triggering of a milestone is subject to the decisions of third parties (e.g. the acceptance or approval of a filing by a regulatory authority), the Group does not consider that the threshold for recognition is met until that decision is made. Where Collaboration Revenue arises from the licensing of the Group’s own intellectual property, the licences we grant are typically rights to use intellectual property which do not change during the period of the licence and therefore related non-conditional revenue is recognised at the point the license is granted and variable consideration as soon as recognition criteria are met. Those licences are generally unique and therefore when there are other performance obligations in the contract, the basis of allocation of the consideration makes use of the residual approach as permitted by IFRS 15. These arrangements typically involve the receipt of an upfront payment, which the contract attributes to the license of the intangible assets, and ongoing receipts, which the contract attributes to the sale of the product we manufacture. In cases where the transaction has two or more components, we account for the delivered item (for example, the transfer of title to the intangible asset) as a separate unit of accounting and record revenue on delivery of that component, provided that we can make a reasonable estimate of the fair value of the undelivered component. Where non-contingent amounts are payable over one year from the effective date of a contract, an assessment is made as to whether a significant financing component exists, and if so, the fair value of this component is deferred and recognised over the period to the expected date of receipt. Where control of a right to use an intangible asset passes at the outset of an arrangement, revenue is recognised at the point in time control is transferred. Where the substance of an arrangement is that of a right to access rights attributable to an intangible asset, revenue is recognised over time, normally on a straight-line basis over the life of the contract. Where the fair market value of the undelivered component (for example, a manufacturing agreement) exceeds the contracted price for that component, we defer an appropriate element of the upfront consideration and amortise this over the performance period. However, where the fair market value of the undelivered component is equal to or lower than the contracted price for that component, we treat the whole of the upfront amount as being attributable to the delivered intangible assets and recognise that part of the revenue upon delivery. No element of the contracted revenue related to the undelivered component is ordinarily allocated to the sale of the intangible asset. This is because the contracted revenue relating to the undelivered component is contingent on future events (such as sales) and cannot be recognised until either receipt of the amount is highly probable or where the consideration is received for a licence of intellectual property, on the occurrence of the related sales. Where the Group provides ongoing services, revenue in respect of this element is recognised over the duration of those services. Where the arrangement meets the definition of a licence agreement, sales milestones and sales royalties are recognised when achieved by applying the royalty exemption under IFRS 15. All other milestones and sales royalties are recognised when considered it is highly probable there will not be a significant reversal of income. The determination requires estimates to be made in relation to future Product Sales. Where Collaboration Revenue is recorded and there is a related Intangible asset, an appropriate amount of that intangible asset is charged to Cost of sales based on an allocation of cost or value to the rights that have been sold.
Cost of sales	Cost of sales Cost of sales are recognised as the associated revenue is recognised. Cost of sales include manufacturing costs, royalties payable on revenues recognised, movements in provisions for inventories, inventory write-offs and impairment charges in relation to manufacturing assets. Cost of sales also includes partner profit shares arising from collaborations, and foreign exchange gains and losses arising from business trading activities.
Research and development	Research and development Research expenditure is recognised in profit in the year in which it is incurred. Internal development expenditure is capitalised only if it meets the recognition criteria of IAS 38 ‘Intangible Assets’. This is considered a key judgement. Where regulatory and other uncertainties are such that the criteria are not met, the expenditure is charged to profit and loss and this is almost invariably the case prior to approval of the drug by the relevant regulatory authority. Where, however, recognition criteria are met, Intangible assets are capitalised and amortised on a straight-line basis over their useful economic lives from product launch. At 31 December 2019, no amounts have met the recognition criteria. Payments to in-license products and compounds from third parties for new research and development projects (in process research and development) generally take the form of upfront payments, milestones and royalty payments. Where payments made to third parties represent consideration for future research and development activities, an evaluation is made as to the nature of the payments. Such payments are expensed if they represent compensation for sub-contracted research and development services not resulting in a transfer of intellectual property. By contrast, payments are capitalised if they represent compensation for the transfer of identifiable intellectual property developed at the risk of the third party. Development milestone payments relating to identifiable intellectual property are capitalised as the milestone is triggered. Any upfront or milestone payments for research activities where there is no associated identifiable intellectual property are expensed. Assets capitalised are amortised, on a straight-line basis, over their useful economic lives from product launch. The determination of useful economic life is considered to be a key judgement. On product launch, the Group makes a judgement as to the expected useful economic life using our detailed long-term risk-adjusted sales projections compiled annually across the Group and approved by the Board, and for assets where the useful economic life extends beyond this period, appropriately reviewed, risk-adjusted sales projections. The useful economic life can extend beyond patent expiry as dependent upon the nature of the product and the complexity of the development and manufacturing process. Significant sales can often be achieved post patent expiration.
Intangible assets	Intangible assets Intangible assets are stated at cost less provision for amortisation and impairments. Intangible assets relating to products in development are subject to impairment testing annually. All Intangible assets are tested for impairment when there are indications that the carrying value may not be recoverable. The determination of the recoverable amounts include key estimates which are highly sensitive to, and depend upon, key assumptions as detailed in Note 10 to the Financial Statements from page 190. Impairment reviews have been carried out on all Intangible assets that are in development (and not being amortised), all major intangible assets acquired during the year and all other intangible assets that have had indications of impairment during the year. Recoverable amount is determined as the higher of value in use or fair value less costs to sell using a discounted cash flow calculation, where the products’ expected cash flows are risk-adjusted over their estimated remaining useful economic life. The determination of the recoverable amounts include significant estimates which are highly sensitive and depend upon key assumptions as detailed in Note 10 to the Financial Statements from page 190. Sales forecasts and specific allocated costs (which have both been subject to appropriate senior management review and approval) are risk-adjusted and discounted using appropriate rates based on our post-tax weighted average cost of capital or for fair value less costs to sell, an impairment rate for a market participant. Our weighted average cost of capital reflects factors such as our capital structure and our costs of debt and equity. Any impairment losses are recognised immediately in profit. Intangible assets relating to products which fail during development (or for which development ceases for other reasons) are also tested for impairment and are written down to their recoverable amount (which is usually nil). If, subsequent to an impairment loss being recognised, development restarts or other facts and circumstances change indicating that the impairment is less or no longer exists, the value of the asset is re-estimated and its carrying value is increased to the recoverable amount, but not exceeding the original value, by recognising an impairment reversal in profit.
Joint arrangements and associates	Joint arrangements and associates The Group has arrangements over which it has joint control and which qualify as joint operations or joint ventures under IFRS 11 ‘Joint Arrangements’. For joint operations, the Group recognises its share of revenue that it earns from the joint operations and its share of expenses incurred. The Group also recognises the assets associated with the joint operations that it controls and the liabilities it incurs under the joint arrangement. For joint ventures and associates, the Group recognises its interest in the joint venture or associate as an investment and uses the equity method of accounting.
Employee benefits	Employee benefits The Group accounts for pensions and other employee benefits (principally healthcare) under IAS 19 ‘Employee Benefits’ and recognises all actuarial gains and losses immediately through Other comprehensive income. In respect of defined benefit plans, obligations are measured at discounted present value while plan assets are measured at fair value. Given the extent of the assumptions used to determine these values, these are considered to be significant estimates. The operating and financing costs of such plans are recognised separately in profit, current service costs are spread systematically over the lives of employees and financing costs are recognised in full in the periods in which they arise. Remeasurements of the net defined benefit pension liability, including actuarial gains and losses, are recognised immediately in Other comprehensive income. Where the calculation results in a surplus to the Group, the recognised asset is limited to the present value of any available future refunds from the plan or reductions in future contributions to the plan. Payments to defined contribution plans are recognised in profit as they fall due.
Taxation	Taxation The current tax payable is based on taxable profit for the year. Taxable profit differs from reported profit because taxable profit excludes items that are either never taxable or tax deductible or items that are taxable or tax deductible in a different period. The Group's current tax assets and liabilities are calculated using tax rates that have been enacted or substantively enacted by the reporting date. Deferred tax is provided using the balance sheet liability method, providing for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax assets are recognised to the extent that it is probable that future taxable profit will be available against which the asset can be utilised. This requires judgements to be made in respect of the availability of future taxable income. No deferred tax asset or liability is recognised in respect of temporary differences associated with investments in subsidiaries and branches where the Group is able to control the timing of reversal of the temporary differences and it is probable that the temporary differences will not reverse in the foreseeable future. The Group's Deferred tax assets and liabilities are calculated using tax rates that are expected to apply in the period when the liability is settled or the asset realised based on tax rates that have been enacted or substantively enacted by the reporting date. Accruals for tax contingencies require management to make judgements of potential exposures in relation to tax audit issues. Tax benefits are not recognised unless the tax positions will probably be accepted by the tax authorities. This is based upon management's interpretation of applicable laws and regulations and the expectation of how the tax authority will resolve the matter. Once considered probable of not being accepted, management reviews each material tax benefit and reflects the effect of the uncertainty in determining the related taxable result. Accruals for tax contingencies are measured using either the most likely amount or the expected value amount depending on which method the entity expects to better predict the resolution of the uncertainty. Further details of the estimates and assumptions made in determining our recorded liability for transfer pricing contingencies and other tax contingencies are included in Note 29 to the Financial Statements on page 225.
Share-based payments	Share-based payments All plans are assessed and have been classified as equity settled. The grant date fair value of employee share plan awards is calculated using a Monte Carlo model. In accordance with IFRS 2 ‘Share-based Payment’, the resulting cost is recognised in profit over the vesting period of the awards, being the period in which the services are received. The value of the charge is adjusted to reflect expected and actual levels of awards vesting, except where the failure to vest is as a result of not meeting a market condition. Cancellations of equity instruments are treated as an acceleration of the vesting period and any outstanding charge is recognised in profit immediately.
Property, plant and equipment	Property, plant and equipment The Group’s policy is to write off the difference between the cost of each item of Property, plant and equipment and its residual value over its estimated useful life on a straight-line basis. Assets under construction are not depreciated. Reviews are made annually of the estimated remaining lives and residual values of individual productive assets, taking account of commercial and technological obsolescence as well as normal wear and tear. It is impractical to calculate average asset lives exactly. However, the total lives range from approximately 10 to 50 years for buildings, and three to 15 years for plant and equipment. All items of Property, plant and equipment are tested for impairment when there are indications that the carrying value may not be recoverable. Any impairment losses are recognised immediately in profit.
Borrowing costs	Borrowing costs The Group has no borrowing costs with respect to the acquisition or construction of qualifying assets. All other borrowing costs are recognised in profit as incurred and in accordance with the effective interest rate method.
Leases	Leases Accounting policy applied until 1 January 2019 (IAS 17) Leases are classified as finance leases if they transfer substantively all the risks and rewards incidental to ownership, otherwise they are classified as operating leases. Assets and liabilities arising on finance leases are initially recognised at fair value or, if lower, the present value of the minimum lease payments. The discount rate used in calculating the present value of the minimum lease payments is the interest rate implicit in the lease. Finance charges under finance leases are allocated to each reporting period so as to produce a constant periodic rate of interest on the remaining balance of the finance liability. Rentals under operating leases are charged to profit and loss on a straight-line basis. Accounting policy applied from 1 January 2019 (IFRS 16) The Group’s lease arrangements are principally for property, most notably a portfolio of office premises and employee accommodation, and for a global car fleet, utilised primarily by our sales and marketing teams. The lease liability and corresponding right-of-use asset arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the following lease payments: > fixed payments, less any lease incentives receivable > variable lease payments that depend on an index or a rate, initially measured using the index or rate as at the commencement date > the exercise price of a purchase option if the Group is reasonably certain to exercise that option > payments of penalties for terminating the lease, if the lease term reflects the Group exercising that option, and > amounts expected to be payable by the Group under residual value guarantees. Right-of-use assets are measured at cost comprising the following: > the amount of the initial measurement of lease liability > any lease payments made at or before the commencement date less any lease incentives received > any initial direct costs, and > restoration costs. Judgements made in calculating the lease liability include assessing whether arrangements contain a lease and determining the lease term. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions. Property leases will often include an early termination or extension option to the lease term. Fleet management policies vary by jurisdiction and may include renewal of a lease until a measurement threshold, such as mileage, is reached. Extension and termination options have been considered when determining the lease term, along with all facts and circumstances that may create an economic incentive to exercise an extension option, or not exercise a termination option. Extension periods (or periods after termination options) are only included in the lease term if the lease is reasonably certain to be extended (or not terminated). The lease payments are discounted using incremental borrowing rates, as in the majority of leases held by the Group the interest rate implicit in the lease is not readily identifiable. Calculating the discount rate is an estimate made in calculating the lease liability. This rate is the rate that the Group would have to pay to borrow the funds necessary to obtain an asset of similar value to the right-of-use asset in a similar economic environment with similar terms, security and conditions. To determine the incremental borrowing rate, the Group uses a risk-free interest rate adjusted for credit risk, adjusting for terms specific to the lease including term, country and currency. The Group is exposed to potential future increases in variable lease payments that are based on an index or rate, which are initially measured as at the commencement date, with any future changes in the index or rate excluded from the lease liability until they take effect. When adjustments to lease payments based on an index or rate take effect, the lease liability is reassessed and adjusted against the right-of-use asset. Lease payments are allocated between principal and finance cost. The finance cost is charged to the Consolidated Statement of Comprehensive Income over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. Payments associated with short-term leases of Property, plant and equipment and all leases of low-value assets are recognised on a straight-line basis as an expense in the Consolidated Statement of Comprehensive Income. Short-term leases are leases with a lease term of 12 months or less. Low-value leases are those where the underlying asset value, when new, is $5,000 or less and includes IT equipment and small items of office furniture. Contracts may contain both lease and non-lease components. The Group allocates the consideration in the contract to the lease and non-lease components based on their relative stand-alone prices. Right-of-use assets are generally depreciated over the shorter of the asset's useful life and the lease term on a straight-line basis. If the Group is reasonably certain to exercise a purchase option, the right-of-use asset is depreciated over the underlying asset’s useful life. It is impractical to calculate average asset lives exactly. However, the total lives range from approximately 10 to 50 years for buildings, and three to 15 years for motor vehicles and other assets. There are no material lease agreements under which the Group is a lessor.
Business combinations and goodwill	Business combinations and goodwill The determination of whether an acquired set of assets and activities is a business or an asset can be judgemental. Management uses a number of factors to make this determination, which are primarily focused on whether the acquired set of assets and activities are capable of being managed for the purpose of providing a return. Key determining factors include the stage of development of any assets acquired, the readiness and ability of the acquired set to produce outputs and the presence of key experienced employees capable of conducting activities required to develop or manufacture the assets. Typically, the specialised nature of many pharmaceutical assets and processes is such that until assets are substantively ready for production and promotion, there are not the required processes for a set of assets and activities to meet the definition of a business in IFRS 3. On the acquisition of a business, fair values are attributed to the identifiable assets and liabilities. Attributing fair values is a judgement. Contingent liabilities are also recorded at fair value unless the fair value cannot be measured reliably, in which case the value is subsumed into goodwill. Where the Group fully acquires, through a business combination, assets that were previously held in joint operations, the Group has elected not to uplift the book value of the existing interest in the asset held in the joint operation to fair value at the date full control is taken. Where fair values of acquired contingent liabilities cannot be measured reliably, the assumed contingent liability is not recognised but is disclosed in the same manner as other contingent liabilities. Where not all of the equity of a subsidiary is acquired, the non-controlling interest is recognised either at fair value or at the non-controlling interest’s proportionate share of the net assets of the subsidiary, on a case-by-case basis. Put options over non-controlling interests are recognised as a financial liability, with a corresponding entry in either retained earnings or against non-controlling interest reserves on a case-by-case basis. The timing and amount of future contingent elements of consideration is considered a key estimate. Contingent consideration, which may include development and launch milestones, revenue threshold milestones and revenue-based royalties, is fair valued at the date of acquisition using decision-tree analysis with key inputs including probability of success, consideration of potential delays and revenue projections based on the Group’s internal forecasts. Unsettled amounts of consideration are held at fair value within payables with changes in fair value recognised immediately in profit. Goodwill is the difference between the fair value of the consideration and the fair value of net assets acquired. Goodwill arising on acquisitions is capitalised and subject to an impairment review, both annually and when there is an indication that the carrying value may not be recoverable. The Group’s policy up to and including 1997 was to eliminate Goodwill arising upon acquisitions against reserves. Under IFRS 1 ‘First-time Adoption of International Financial Reporting Standards’ and IFRS 3 ‘Business Combinations’, such Goodwill will remain eliminated against reserves.
Subsidiaries	Subsidiaries A subsidiary is an entity controlled, directly or indirectly, by AstraZeneca PLC. Control is regarded as the exposure or rights to the variable returns of the entity when combined with the power to affect those returns. The financial results of subsidiaries are consolidated from the date control is obtained until the date that control ceases.
Inventories	Inventories Inventories are stated at the lower of cost and net realisable value. The first in, first out or an average method of valuation is used. For finished goods and work in progress, cost includes directly attributable costs and certain overhead expenses (including depreciation). Selling expenses and certain other overhead expenses (principally central administration costs) are excluded. Net realisable value is determined as estimated selling price less all estimated costs of completion and costs to be incurred in selling and distribution. Write-downs of inventory occur in the general course of business and are recognised in cost of sales for launched or approved products and research and development costs for products in development.
Assets held for sale	Assets held for sale Non-current assets are classified as assets held for sale when their carrying amount is to be recovered principally through a sale transaction and a sale is considered highly probable. A sale is usually considered highly probable only when an appropriate level of management has committed to the sale. Assets held for sale are stated at the lower of carrying amount and fair value less costs to sell. Where there is a partial transfer of a non-current asset to held for sale, an allocation of value is made between the current and non-current portions of the asset based on the relative value of the two portions, unless there is a methodology that better reflects the asset to be disposed of. Assets held for sale are not depreciated or amortised
Trade and other receivables	Trade and other receivables Financial assets included in Trade and other receivables are recognised initially at fair value. The Group holds the Trade receivables with the objective to collect the contractual cash flows and therefore measures them subsequently at amortised cost using the effective interest rate method, less any impairment losses. Trade receivables that are subject to debt factoring arrangements are derecognised if they meet the conditions for derecognition detailed in IFRS 9 ‘Financial Instruments’.
Trade and other payables	Trade and other payables Financial liabilities included in Trade and other payables are recognised initially at fair value. Subsequent to initial recognition they are measured at amortised cost using the effective interest rate method. Contingent consideration payables are held at fair value within level 3 of the fair value hierarchy as defined in Note 12.
Financial instruments	Financial instruments The Group’s financial instruments include lease liabilities, Trade and other receivables and payables, liabilities for contingent consideration and put options under business combinations, and rights and obligations under employee benefit plans which are dealt with in specific accounting policies. The Group’s other financial instruments include: > Cash and cash equivalents > Fixed deposits > Other investments > Bank and other borrowings > Derivatives
Cash and cash equivalents	Cash and cash equivalents Cash and cash equivalents comprise cash in hand, current balances with banks and similar institutions, and highly liquid investments with maturities of three months or less when acquired. They are readily convertible into known amounts of cash and are held at amortised cost under the hold to collect classification, where they meet the hold to collect ‘solely payments of principal and interest’ test criteria under IFRS 9. Those not meeting these criteria are held at fair value through profit and loss.
Fixed deposits	Fixed deposits Fixed deposits, principally comprising funds held with banks and other financial institutions, are initially measured at fair value, plus direct transaction costs, and are subsequently measured at amortised cost using the effective interest rate method at each reporting date. Changes in carrying value are recognised in profit.
Other investments	Other investments Accounting policy applied until 31 December 2017 (IAS 39) Until 31 December 2017, the investments were classified as available for sale, initially measured at fair value (including direct transaction costs) and subsequently remeasured to fair value at each reporting date. Changes in carrying value due to changes in exchange rates on monetary available for sale investments or impairments were recognised in profit within Other operating income and expense. All other changes in fair value were recognised in Other comprehensive income. Accounting policy applied from 1 January 2018 (IFRS 9) On adoption of IFRS 9 on 1 January 2018 the available for sale classification category was eliminated. Investments previously classified as available for sale are now classified as fair value through profit or loss, unless the Group makes an irrevocable election at initial recognition for certain non-current equity investments to present changes in fair value in Other comprehensive income. If this election is made, there is no subsequent reclassification of fair value gains and losses to profit and loss following the derecognition of the investment. The following reclassifications were made on 1 January 2018: Reclassification from available for sale to at fair value through Other comprehensive income These investments were reclassified from available for sale to assets at fair value through Other comprehensive income. The investments primarily relate to biotech companies and are held to access science rather than to liquidate and realise gains. Reclassification from available for sale to at fair value through profit or loss These investments were reclassified from available to sale to assets at fair value through profit and loss. The investments primarily relate to short-term assets invested as part of our cash management strategy to maximise gains on our liquid resources.
Bank and other borrowings	Bank and other borrowings The Group uses derivatives, principally interest rate swaps, to hedge the interest rate exposure inherent in a portion of its fixed interest rate debt. In such cases the Group will either designate the debt as fair value through profit or loss when certain criteria are met or as the hedged item under a fair value hedge. If the debt instrument is designated as fair value through profit or loss, the debt is initially measured at fair value (with direct transaction costs being included in profit as an expense) and is remeasured to fair value at each reporting date with changes in carrying value being recognised in profit (along with changes in the fair value of the related derivative), with the exception of changes in the fair value of the debt instrument relating to own credit risk which are recorded in Other comprehensive income in accordance with IFRS 9. Such a designation has been made where this significantly reduces an accounting mismatch which would result from recognising gains and losses on different bases. If the debt is designated as the hedged item under a fair value hedge, the debt is initially measured at fair value (with direct transaction costs being amortised over the life of the debt) and is remeasured for fair value changes in respect of the hedged risk at each reporting date with changes in carrying value being recognised in profit (along with changes in the fair value of the related derivative). If the debt is designated in a cash flow hedge, the debt is measured at amortised cost (with gains or losses taken to profit and direct transaction costs being amortised over the life of the debt). The related derivative is remeasured for fair value changes at each reporting date with the portion of the gain or loss on the derivative that is determined to be an effective hedge recognised in Other comprehensive income. The amounts that have been recognised in Other comprehensive income are reclassified to profit in the same period that the hedged forecast cash flows affect profit. The reclassification adjustment is included in Finance expense in the Consolidated Statement of Comprehensive Income. Other interest-bearing loans are initially measured at fair value (with direct transaction costs being amortised over the life of the loan) and are subsequently measured at amortised cost using the effective interest rate method at each reporting date. Changes in carrying value are recognised in profit.
Derivatives	Derivatives Derivatives are initially measured at fair value (with direct transaction costs being included in profit as an expense) and are subsequently remeasured to fair value at each reporting date. Changes in carrying value are recognised in profit.
Foreign currencies	Foreign currencies Foreign currency transactions, being transactions denominated in a currency other than an individual Group entity’s functional currency, are translated into the relevant functional currencies of individual Group entities at average rates for the relevant monthly accounting periods, which approximate to actual rates. Monetary assets and liabilities arising from foreign currency transactions are retranslated at exchange rates prevailing at the reporting date. Exchange gains and losses on loans and on short-term foreign currency borrowings and deposits are included within Finance expense. Exchange differences on all other foreign currency transactions are recognised in Operating profit in the individual Group entity’s accounting records. Non-monetary items arising from foreign currency transactions are not retranslated in the individual Group entity’s accounting records. In the Consolidated Financial Statements, income and expense items for Group entities with a functional currency other than US dollars are translated into US dollars at average exchange rates, which approximate to actual rates, for the relevant accounting periods. Assets and liabilities are translated at the US dollar exchange rates prevailing at the reporting date. Exchange differences arising on consolidation are recognised in Other comprehensive income. If certain criteria are met, non-US dollar denominated loans or derivatives are designated as net investment hedges of foreign operations. Exchange differences arising on retranslation of net investments, and of foreign currency loans which are designated in an effective net investment hedge relationship, are recognised in Other comprehensive income in the Consolidated Financial Statements. Foreign exchange derivatives hedging net investments in foreign operations are carried at fair value. Effective fair value movements are recognised in Other comprehensive income, with any ineffectiveness taken to profit. Gains and losses accumulated in the translation reserve will be recycled to profit when the foreign operation is sold.
Litigation and environmental liabilities	Litigation and environmental liabilities AstraZeneca is involved in legal disputes, the settlement of which may involve cost to the Group. Provision is made where an adverse outcome is probable and associated costs, including related legal costs, can be estimated reliably. In other cases, appropriate disclosures are included. Determining the timing of recognition of when an adverse outcome is probable is considered a key judgement, refer to Note 29 to the Financial Statements on page 221. Where it is considered that the Group is more likely than not to prevail, or in the rare circumstances where the amount of the legal liability cannot be estimated reliably, legal costs involved in defending the claim are charged to profit as they are incurred. Where it is considered that the Group has a valid contract which provides the right to reimbursement (from insurance or otherwise) of legal costs and/or all or part of any loss incurred or for which a provision has been established, the best estimate of the amount expected to be received is recognised as an asset only when it is virtually certain. AstraZeneca is exposed to environmental liabilities relating to its past operations, principally in respect of soil and groundwater remediation costs. Provisions for these costs are made when there is a present obligation and where it is probable that expenditure on remedial work will be required and a reliable estimate can be made of the cost. Provisions are discounted where the effect is material.
Impairment	Impairment The carrying values of non-financial assets, other than Inventories and Deferred tax assets, are reviewed at least annually to determine whether there is any indication of impairment. For Goodwill, Intangible assets under development and for any other assets where such indication exists, the asset’s recoverable amount is estimated based on the greater of its value in use and its fair value less cost to sell. In assessing the recoverable amount, the estimated future cash flows, adjusted for the risks specific to each asset, are discounted to their present value using a discount rate that reflects current market assessments of the time value of money, the general risks affecting the pharmaceutical industry and other risks specific to each asset. For the purpose of impairment testing, assets are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash flows of other assets. Impairment losses are recognised immediately in profit.
International accounting transition	International accounting transition On transition to using adopted IFRSs in the year ended 31 December 2005, the Group took advantage of several optional exemptions available in IFRS 1 ‘First-time Adoption of International Financial Reporting Standards’. The major impacts which are of continuing importance are detailed below: > Business combinations – IFRS 3 ‘Business Combinations’ has been applied from 1 January 2003, the date of transition, rather than being applied fully retrospectively. As a result, the combination of Astra and Zeneca is still accounted for as a merger, rather than through purchase accounting. If purchase accounting had been adopted, Zeneca would have been deemed to have acquired Astra. > Cumulative exchange differences – the Group chose to set the cumulative exchange difference reserve at 1 January 2003 to nil.
Financial risk	The Group’s principal financial instruments, other than derivatives, comprise bank overdrafts, lease liabilities, loans, current and non-current investments, cash and short-term deposits. The main purpose of these financial instruments is to manage the Group’s funding and liquidity requirements. The Group has other financial assets and liabilities such as trade receivables and trade payables, which arise directly from its operations. The principal financial risks to which the Group is exposed are those of liquidity, interest rate, foreign currency and credit. Each of these is managed in accordance with Board-approved policies. These policies are set out below. Hedge accounting The Group uses foreign currency borrowings, foreign currency forwards and swaps, currency options, interest rate swaps and cross-currency interest rate swaps for the purpose of hedging its foreign currency and interest rate risks. The Group may designate certain financial instruments as fair value hedges, cash flow hedges or net investment hedges in accordance with IFRS 9. Hedge effectiveness is determined at the inception of the hedge relationship, and through periodic prospective effectiveness assessments to ensure that an economic relationship exists between the hedged item and hedging instrument. Sources of hedge effectiveness will depend on the hedge relationship designation but may include: > a significant change in the credit risk of either party to the hedging relationship > a timing mismatch between the hedging instrument and the hedged item > movements in foreign currency basis spread for derivatives in a fair value hedge > a significant change in the value of the foreign currency denominated net assets of the Group in a net investment hedge. The hedge ratio for each designation will be established by comparing the quantity of the hedging instrument and the quantity of the hedged item to determine their relative weighting; for all of the Group’s existing hedge relationships the hedge ratio has been determined as 1:1. Designated hedges are expected to be effective and therefore the impact of ineffectiveness on profit is not expected to be material. The accounting treatment for fair value hedges and debt designated as fair value through profit or loss is disclosed in the Group Accounting Policies section from page 172. 1. Key controls applied to transactions in derivative financial instruments are: to use only instruments where good market liquidity exists, to revalue all financial instruments regularly using current market rates and to sell options only to offset previously purchased options or as part of a risk management strategy. The Group is not a net seller of options, and does not use derivative financial instruments for speculative purposes.
Liquidity risk	Liquidity risk The Board reviews the Group’s ongoing liquidity risks annually as part of the planning process and on an ad hoc basis. The Board considers short-term requirements against available sources of funding, taking into account forecast cash flows. The Group manages liquidity risk by maintaining access to a number of sources of funding which are sufficient to meet anticipated funding requirements. Specifically, the Group uses US commercial paper, bank loans, committed bank facilities and cash resources to manage short-term liquidity and manages long-term liquidity by raising funds through the capital markets. The Group is assigned short-term credit ratings of P-2 by Moody’s and A-2 by Standard and Poor’s. The Group’s long-term credit rating is A3 stable outlook by Moody’s and BBB+ stable outlook by Standard and Poor’s.
Interest rate risk	Interest rate risk The Group maintains a mix of fixed and floating rate debt. The portion of fixed rate debt was approved by the Board and any variation requires Board approval. A significant portion of the long-term debt is held at fixed rates of interest. The Group uses interest rate swaps and forward rate agreements to manage this mix.
Foreign currency risk	Foreign currency risk The US dollar is the Group’s most significant currency. As a consequence, the Group results are presented in US dollars and exposures are managed against US dollars accordingly.
Credit risk	Credit risk The Group is exposed to credit risk on financial assets, such as cash investments, derivative instruments, and Trade and other receivables. The Group is also exposed in its Net asset position to its own credit risk in respect of the 2023 debentures which are accounted for at fair value through profit or loss. Under IFRS 9, the Group records the effect of the losses and gains, arising from own credit risk, on the fair value of bonds designated at fair value through profit or loss in Other comprehensive income. Financial counterparty credit risk The majority of the AstraZeneca Group’s cash is centralised within the Group treasury entity and is subject to counterparty risk on the principal invested. The level of the Group’s cash investments and hence credit risk will depend on the cash flow generated by the Group and the timing of the use of that cash. The credit risk is mitigated through a policy of prioritising security and liquidity over return, and, as such, cash is only invested in high credit quality investments. Counterparty limits are set according to the assessed risk of each counterparty and exposures are monitored against these limits on a regular basis.
Applicable accounting standards and interpretations issued but not yet adopted	Applicable accounting standards and interpretations issued but not yet adopted At the date of authorisation of these financial statements, the following amendments were in issue but not yet adopted by the Group: > amendments to IAS 1 ‘Presentation of Financial Statements’ and IAS 8 ‘Accounting Policies, Changes in Accounting Estimates and Errors’ – endorsed by the EU on 29 November 2019 > amendments to IFRS 3 ‘Business Combinations’, effective for periods beginning on or after 1 January 2020 – not amended by the EU. The above amendments and interpretations are not expected to have a significant impact on the Group’s net results.

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2019
Revenues
Schedule of product sales	Emerging Rest of Emerging Rest of Emerging Rest of Markets US Europe World Total Markets US Europe World Total Markets US Europe World Total $m $m $m $m $m $m $m $m $m $m $m $m $m $m $m Oncology: Tagrisso 762 1,268 474 685 3,189 347 869 314 330 1,860 135 405 187 228 955 Imfinzi 30 1,041 179 219 1,469 6 564 27 36 633 – 19 – – 19 Lynparza 133 626 287 152 1,198 51 345 190 61 647 18 141 130 8 297 Calquence 2 162 – – 164 – 62 – – 62 – 3 – – 3 Faslodex 198 328 229 137 892 154 537 221 116 1,028 115 492 256 78 941 Zoladex 492 7 135 179 813 409 8 133 202 752 353 15 141 226 735 Iressa 286 17 70 50 423 286 26 109 97 518 251 39 112 126 528 Arimidex 152 – 28 45 225 132 – 31 49 212 118 7 34 58 217 Casodex 127 – 16 57 200 113 1 20 67 201 108 (1) 22 86 215 Others 29 – 5 60 94 30 – 8 77 115 28 – 3 83 114 2,211 3,449 1,423 1,584 8,667 1,528 2,412 1,053 1,035 6,028 1,126 1,120 885 893 4,024 Cardiovascular, Renal and Metabolism: Farxiga 471 537 373 162 1,543 336 591 315 149 1,391 232 489 242 111 1,074 Brilinta 462 710 351 58 1,581 326 588 348 59 1,321 224 509 295 51 1,079 Bydureon 11 459 66 13 549 8 475 81 20 584 9 458 88 19 574 Onglyza 176 230 70 51 527 172 223 89 59 543 130 320 104 57 611 Byetta 12 68 19 11 110 8 74 29 15 126 12 114 34 16 176 Other Diabetes 1 40 9 2 52 (1) 34 5 1 39 1 52 – – 53 Lokelma – 13 1 – 14 – – – – – – – – – – Crestor 806 104 148 220 1,278 841 170 203 219 1,433 784 373 666 542 2,365 Seloken/Toprol-XL 686 37 25 12 760 641 39 19 13 712 593 37 52 13 695 Atacand 160 12 30 19 221 157 13 70 20 260 178 19 86 17 300 Others 193 (1) 59 20 271 207 (1) 71 24 301 204 – 92 43 339 2,978 2,209 1,151 568 6,906 2,695 2,206 1,230 579 6,710 2,367 2,371 1,659 869 7,266 Respiratory: Symbicort 547 829 678 441 2,495 495 862 773 431 2,561 439 1,099 819 446 2,803 Pulmicort 1,190 110 81 85 1,466 995 116 90 85 1,286 840 156 92 88 1,176 Fasenra 5 482 118 99 704 1 218 32 46 297 – 1 – – 1 Daliresp/Daxas 4 184 26 1 215 5 155 28 1 189 4 167 26 1 198 Duaklir 1 3 71 2 77 1 – 91 3 95 – – 77 2 79 Bevespi – 42 – – 42 – 33 – – 33 – 16 – – 16 Breztri – – – 2 2 – – – – – – – – – – Others 240 3 133 14 390 147 32 215 56 450 105 70 202 56 433 1,987 1,653 1,107 644 5,391 1,644 1,416 1,229 622 4,911 1,388 1,509 1,216 593 4,706 Other: Nexium 748 218 63 454 1,483 690 306 235 471 1,702 684 499 248 521 1,952 Synagis – 46 312 – 358 1 287 377 – 665 – 317 370 – 687 Losec/Prilosec 179 10 49 25 263 161 7 70 34 272 140 11 77 43 271 Seroquel XR /IR 50 34 88 19 191 118 108 107 28 361 151 193 127 37 508 Others 12 128 157 9 306 54 134 158 54 400 293 149 171 125 738 989 436 669 507 2,601 1,024 842 947 587 3,400 1,268 1,169 993 726 4,156 Product Sales 8,165 7,747 4,350 3,303 23,565 6,891 6,876 4,459 2,823 21,049 6,149 6,169 4,753 3,081 20,152
Collaboration Revenue
Revenues
Schedule of product sales	$m $m $m Royalty income 62 49 108 Global co-development and commercialisation of Lynparza and selumetinib with MSD 610 790 1,247 Licence agreement for Crestor in Spain with Almirall 39 61 – Co-development and commercialisation of MEDI8897 with Sanofi 34 – 127 Grant of authorised generic rights to various medicines in Japan 19 41 45 Transfer of rights to Zoladex in the US and Canada to TerSera – 35 250 Licence of rights to brodalumab to Valeant and LEO Pharma – – 150 Transfer of rights to anaesthetics medicines to Aspen – – 150 Other collaboration milestones 5 4 87 Other collaboration upfronts – 10 114 Other collaboration revenue 50 51 35 819 1,041 2,313

Operating profit (Tables)

Operating profit (Tables)	12 Months Ended
	Dec. 31, 2019
Operating profit
Schedule of other operating income and expense	$m $m $m Royalties Income 146 96 132 Amortisation (4) (4) (45) Gains on disposal of intangible assets 1,243 1,885 1,518 Gains on disposal of short-term investments – – 161 Net (losses)/gains on disposal of other non-current assets (21) (8) 24 Impairment of property, plant and equipment – – (78) Legal settlements 1 – 374 – Other income 285 277 286 Other expense (108) (93) (168) Other operating income and expense 1,541 2,527 1,830 1 Primarily driven by a $352m settlement of legal action in Canada in relation to a patent infringement of Losec / Prilosec.
Schedule of restructuring costs	$m $m $m Cost of sales 73 432 181 Research and development expense 101 94 201 Selling, general and administrative costs 173 181 347 Other operating income and expense – (10) 78 Total charge 347 697 807 $m $m $m Severance costs 137 41 176 Accelerated depreciation and impairment 1 (67) 259 141 Other 277 397 490 Total charge 347 697 807 1 See Note 7 on page 188.
Schedule of net gains and losses on financial instruments included within operating profit	$m $m $m Losses on forward foreign exchange contracts (112) (100) (6) Gains/(losses) on receivables and payables 66 43 (30) Gains on disposal of short-term investments – – 161 Gains on other available for sale investments – – 34 Total (46) (57) 159

Finance income and expense (Tab

Finance income and expense (Tables)	12 Months Ended
	Dec. 31, 2019
Finance income and expense
Schedule of net finance expense	$m $m $m Finance income Returns on fixed deposits and equity securities 1 10 8 Returns on short-term deposits 122 86 62 Fair value gains on debt and interest rate swaps 7 – 4 Discount unwind on other long-term assets 20 6 10 Interest on tax receivables 22 36 29 Total 172 138 113 Finance expense Interest on debt and commercial paper (698) (673) (612) Interest on overdrafts, lease liabilities and other financing costs 1 (74) (68) (52) Net interest on post-employment defined benefit plan net liabilities (Note 22) (53) (52) (49) Net exchange losses (30) (51) (148) Discount unwind on contingent consideration arising from business combinations (Note 20) (356) (416) (402) Discount unwind on other long-term liabilities (213) (154) (245) Fair value losses on debt and interest rate swaps – (2) – Interest on tax payables (8) (3) – Total (1,432) (1,419) (1,508) Net finance expense (1,260) (1,281) (1,395) 1 Comparative figures related to finance leases recognised under IAS 17.
Schedule of net gains and losses on financial instruments	$m $m $m Interest and fair value adjustments in respect of debt designated at fair value through profit or loss, net of derivatives (12) (11) 8 Interest and changes in carrying values of debt designated as hedged items in fair value hedges, net of derivatives (10) (28) (35) Interest and fair value changes on fixed and short-term deposits, equity securities, other derivatives and tax balances 110 96 52 Interest on debt, overdrafts, lease liabilities and commercial paper held at amortised cost (662) (619) (559)

Taxation (Tables)

Taxation (Tables)	12 Months Ended
	Dec. 31, 2019
Taxation
Schedule of taxation, comprehensive income	$m $m $m Current tax expense Current year 1,243 711 665 Adjustment to prior years 66 38 (287) Total 1,309 749 378 Deferred tax expense Origination and reversal of temporary differences (875) (644) (1,113) Adjustment to prior years (113) (162) 94 Total (988) (806) (1,019) Taxation recognised in the profit for the period 321 (57) (641) Taxation relating to components of Other comprehensive income is as follows: $m $m $m Current and deferred tax Items that will not be reclassified to profit or loss: Remeasurement of the defined benefit liability 81 37 24 Share-based payments – – 9 Net (gains)/losses on equity investments measured at fair value through other comprehensive income (60) 30 – Deferred tax (credit)/charge relating to change of tax rates – (11) (17) Total 21 56 16 Items that may be reclassified subsequently to profit or loss: Foreign exchange arising on consolidation 34 69 (79) Foreign exchange arising on designating borrowings in net investment hedges 4 – 14 Net available for sale losses/(gains) recognised in other comprehensive income – – 2 Deferred tax (credit)/charge relating to change of tax rates – (18) 30 Total 38 51 (33) Taxation relating to components of other comprehensive income 59 107 (17)
Schedule of tax reconciliation to UK statutory rate	$m $m $m Profit before tax 1,548 1,993 2,227 Notional taxation charge at UK corporation tax rate of 19% (2018: 19%; 2017: 19.25%) 294 379 429 Differences in effective overseas tax rates (49) 18 (212) Deferred tax charge/(credit) relating to change in tax rates 1 39 (334) (616) Unrecognised deferred tax asset 2 (16) 7 (105) Items not deductible for tax purposes 92 167 203 Items not chargeable for tax purposes (13) (6) (14) Other items 3 21 (164) (133) Adjustments in respect of prior periods 4 (47) (124) (193) Total tax charge/(credit) for the year 321 (57) (641) 1 The 2019 item relates to the increase in the 2019 substantively enacted Dutch Corporate Income Tax rate (debit of $66m) and other (credit of $27m). In 2019, it was substantively enacted that the Dutch Corporate Income Tax rate for the year ended 31 December 2020 increases from 22.55% to 25% and effective 1 January 2021 increases from 20.5% to 21.7%. The 2018 item relates to the 2018 reduction in the Dutch and Swedish Corporate Income Tax rates (credit of $297m) and other (credit of $37m). The 2017 item relates to the reduction in the US Federal Income Tax rate from 35% to 21% effective from 1 January 2018 (credit of $617m) and other (charge of $1m). 2 The 2019 item includes a $27m credit arising on recognition of previously unrecognised deferred tax assets and the 2017 item relates to recognition of previously unrecognised net deferred tax assets. 3 Other items in 2019 relate to a charge of $309m relating to collaboration and divestment activity, a credit of $70m relating to internal transfers of intellectual property and a net credit of $218m relating to the release of tax contingencies following the expiry of the relevant statute of limitations and on the conclusion of tax authority review partially offset by a provision build for transfer pricing and other contingencies. Other items in 2018 relate to a credit of $188m relating to the release of tax contingencies following the expiry of the relevant statute of limitations and on the conclusion of tax authority review partially offset by a provision build for transfer pricing and other contingencies (charge $24m). Other items in 2017 relate to the release of tax contingencies following the expiry of the relevant statute of limitations (credit $178m) partially offset by a provision build for transfer pricing contingencies (charge $45m). 4 Further details explaining the adjustments in respect of prior periods is set out on page 183.
Schedule of net deferred tax balance	Intangibles, Pension and Elimination of Losses and Accrued property, plant post-retirement unrealised profit Untaxed tax credits expenses & equipment 1 benefits on inventory reserves 2 carried forward and other Total $m $m $m $m $m $m $m Net deferred tax balance at 1 January 2017 (5,149) 465 1,014 (697) 1,004 509 (2,854) Income statement 1,393 (8) (231) 159 (128) (166) 1,019 Other comprehensive income (84) 9 – – – 35 (40) Exchange (12) 43 48 (62) 30 22 69 Net deferred tax balance at 31 December 2017 (3,852) 509 831 (600) 906 400 (1,806) Net adjustment to the opening balance of Retained earnings – – – – – 12 12 Income statement 401 (15) 179 (4) 129 116 806 Other comprehensive income 56 26 – – – 31 113 Equity – – – – – 12 12 Exchange 27 (25) (30) 47 (27) (36) (44) Net deferred tax balance at 31 December 2018 (3,368) 495 980 (557) 1,008 535 (907) Income statement 1,055 (9) 312 (63) (480) 173 988 Other comprehensive income 34 79 – – – (30) 83 Equity 3 – – – – – 12 12 Exchange 14 (4) 1 22 18 1 52 Net deferred tax balance at 31 December 2019 4 (2,265) 561 1,293 (598) 546 691 228 1 Includes deferred tax on contingent liabilities in respect of intangibles. 2 Untaxed reserves relate to taxable profits where the tax liability is deferred to later periods. 3 Deferred tax movement on share-based payments recorded through equity. 4 The UK had a net deferred tax asset of $629m as at 31 December 2019, which has been recognised on the basis of sufficient forecast future taxable profits against which the deductible temporary differences can be utilised. The US includes a net deferred tax asset of $136m as at 31 December 2019, which has been recognised on the basis of sufficient forecast future taxable profits against which the deductible temporary differences can be utilised.
Schedule of unrecognised deferred tax assets	Temporary Unrecognised Temporary Unrecognised Temporary Unrecognised differences DTA differences DTA differences DTA $m $m $m $m $m $m Trading and capital losses expiring: Within 10 years 33 9 4 1 105 25 More than 10 years 1 – 4 1 4 1 Indefinite 218 62 175 51 88 24 252 71 183 53 197 50 Tax credits and State tax losses expiring: Within 10 years 44 40 32 More than 10 years 259 281 273 Indefinite 67 70 65 370 391 370 Total 441 444 420
Before the offset of balances within countries
Taxation
Schedule of net deferred tax balance	Intangibles, Pension and Elimination of Losses and Accrued property, plant post-retirement unrealised profit Untaxed tax credits expenses & equipment benefits on inventory reserves carried forward and other Total $m $m $m $m $m $m $m Deferred tax assets at 31 December 2017 1,226 559 1,011 – 957 885 4,638 Deferred tax liabilities at 31 December 2017 (5,078) (50) (180) (600) (51) (485) (6,444) Net deferred tax balance at 31 December 2017 (3,852) 509 831 (600) 906 400 (1,806) Deferred tax assets at 31 December 2018 1,071 521 1,287 – 1,103 913 4,895 Deferred tax liabilities at 31 December 2018 (4,439) (26) (307) (557) (95) (378) (5,802) Net deferred tax balance at 31 December 2018 (3,368) 495 980 (557) 1,008 535 (907) Deferred tax assets at 31 December 2019 1,091 591 1,543 – 608 959 4,792 Deferred tax liabilities at 31 December 2019 (3,356) (30) (250) (598) (62) (268) (4,564) Net deferred tax balance at 31 December 2019 (2,265) 561 1,293 (598) 546 691 228
After the offset of balances within countries
Taxation
Schedule of net deferred tax balance	$m $m $m Deferred tax assets 2,718 2,379 2,189 Deferred tax liabilities (2,490) (3,286) (3,995) Net deferred tax balance 228 (907) (1,806)

Earnings per $0.25 Ordinary S_2

Earnings per $0.25 Ordinary Share (Tables)	12 Months Ended
	Dec. 31, 2019
Earnings per $0.25 Ordinary Share
Schedule of Earnings per Ordinary Share	Profit for the year attributable to equity holders ($m) 1,335 2,155 3,001 Basic earnings per Ordinary Share $ $ $ Diluted earnings per Ordinary Share $ $ $ Weighted average number of Ordinary Shares in issue for basic earnings (millions) 1,301 1,267 1,266 Dilutive impact of share options outstanding (millions) – – 1 Diluted weighted average number of Ordinary Shares in issue (millions) 1,301 1,267 1,267

Segment information (Tables)

Segment information (Tables)	12 Months Ended
	Dec. 31, 2019
Segment information
Tabular disclosure of information by geographic area	Total Revenue $m $m $m UK 1,822 2,390 3,240 Continental Europe France 578 617 701 Germany 704 592 541 Italy 396 426 514 Spain 359 396 447 Sweden 834 477 842 Others 1,291 1,312 1,512 4,162 3,820 4,557 The Americas Canada 466 483 482 US 8,047 7,240 6,666 Others 814 806 809 9,327 8,529 7,957 Asia, Africa & Australasia Australia 266 313 377 China 4,867 3,778 2,955 Japan 2,522 1,952 2,172 Others 1,418 1,308 1,207 9,073 7,351 6,711 Total Revenue 24,384 22,090 22,465 Total Revenue outside of the UK totalled $22,562m for the year ended 31 December 2019 (2018: $19,700m; 2017: $19,225m). Operating profit/(loss) Profit/(loss) before tax $m $m $m $m $m $m UK 466 (66) (694) 93 (514) (1,146) Continental Europe 1,502 3,671 2,482 1,006 3,179 1,918 The Americas (8) (757) 1,242 (474) (1,171) 822 Asia, Africa & Australasia 964 539 647 923 499 633 Continuing operations 2,924 3,387 3,677 1,548 1,993 2,227
Tabular disclosure of assets by geographic area	Non-current assets 1 Total assets $m $m $m $m $m $m UK 6,778 4,828 5,371 15,302 13,573 12,842 Continental Europe 15,220 14,529 16,305 18,182 17,119 18,962 The Americas 19,513 22,191 24,811 23,380 26,381 28,180 Asia, Africa & Australasia 1,235 976 1,024 4,513 3,578 3,370 Continuing operations 42,746 42,524 47,511 61,377 60,651 63,354 Assets acquired 2 Net operating assets 3 $m $m $m $m $m $m UK 2,255 556 400 4,206 3,471 3,351 Continental Europe 386 530 629 9,201 8,913 10,228 The Americas 236 356 585 15,929 18,598 20,339 Asia, Africa & Australasia 120 105 138 1,432 1,037 1,198 Continuing operations 2,997 1,547 1,752 30,768 32,019 35,116 1 Non-current assets exclude Deferred tax assets and Derivative financial instruments. 2 Included in Assets acquired are those assets that are expected to be used during more than one period (Property, plant and equipment, Goodwill and Intangible   assets). 3 Net operating assets exclude short-term investments, cash, short-term borrowings, loans, Derivative financial instruments, retirement benefit obligations and non-operating receivables and payables. Property, plant and equipment $m $m $m UK 1,920 1,605 1,455 Sweden 1,488 1,456 1,508 US 2,758 2,844 3,055 Rest of the world 1,522 1,516 1,597 Continuing operations 7,688 7,421 7,615
Tabular disclosure of product sales	$m $m $m UK 458 469 489 Continental Europe 3,891 4,388 4,712 The Americas 9,032 8,177 7,467 Asia, Africa & Australasia 10,184 8,015 7,484 Continuing operations 23,565 21,049 20,152

Property, plant and equipment (

Property, plant and equipment (Tables)	12 Months Ended
	Dec. 31, 2019
Property, plant and equipment
Schedule of property plant and equipment	Assets in Total property, Land and Plant and course of plant and buildings equipment construction equipment $m $m $m $m Cost At 1 January 2017 4,616 6,543 2,292 13,451 Capital expenditure 39 198 1,074 1,311 Transfer of assets into use 525 567 (1,092) – Disposals and other movements (367) (577) – (944) Exchange adjustments 210 452 159 821 At 31 December 2017 5,023 7,183 2,433 14,639 Capital expenditure 25 99 910 1,034 Transfer of assets into use 429 594 (1,023) – Disposals and other movements 50 (427) (14) (391) Exchange adjustments (161) (353) (129) (643) At 31 December 2018 5,366 7,096 2,177 14,639 Capital expenditure 8 48 940 996 Transfer of assets into use 403 620 (1,023) – Disposals and other movements (236) (324) (11) (571) Exchange adjustments (9) (57) 3 (63) At 31 December 2019 5,532 7,383 2,086 15,001 Depreciation At 1 January 2017 2,092 4,511 – 6,603 Charge for year 182 442 – 624 Impairment 78 – – 78 Disposals and other movements (249) (501) – (750) Exchange adjustments 128 341 – 469 At 31 December 2017 2,231 4,793 – 7,024 Charge for year 202 412 – 614 Impairment 150 98 43 291 Disposals and other movements 10 (336) (43) (369) Exchange adjustments (89) (253) – (342) At 31 December 2018 2,504 4,714 – 7,218 Charge for year 209 438 – 647 Impairment (67) 14 – (53) Disposals and other movements (120) (313) – (433) Exchange adjustments (21) (45) – (66) At 31 December 2019 2,505 4,808 – 7,313 Net book value At 31 December 2017 2,792 2,390 2,433 7,615 At 31 December 2018 2,862 2,382 2,177 7,421 At 31 December 2019 3,027 2,575 2,086 7,688
Schedule of net book value of land and buildings	$m $m $m The net book value of land and buildings comprised: Freeholds 2,657 2,567 2,514 Leaseholds 370 295 278

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2019
Leases
Schedule of right-to-use assets	Total right- Land and Motor of-use buildings vehicles Other assets $m $m $m $m Cost At 1 January 2019 – – – – Opening balance 580 124 18 722 Additions 85 85 3 173 Disposals and other movements (44) (7) 1 (50) Exchange adjustments 6 – – 6 At 31 December 2019 627 202 22 851 Depreciation At 1 January 2019 – – – – Charge for year 130 70 7 207 Impairment 4 – – 4 Disposals and other movements (3) (6) 1 (8) Exchange adjustments 1 – – 1 At 31 December 2019 132 64 8 204 Net book value At 31 December 2019 495 138 14 647
Schedule of the present value of lease liabilities	$m $m $m The present value of lease liabilities is as follows: Within one year 188 – – Later than one year and not later than five years 368 – – Later than five years 119 – – Total lease liabilities 675 – –
Schedule of total rentals under operating leases charged to profit	$m $m Operating leases 188 175
Schedule of future minimum lease payments	$m $m Not later than one year 188 151 Later than one year and not later than five years 360 345 Later than five years 136 118 Total future minimum lease payments 684 614

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Dec. 31, 2019
Goodwill.
Schedule of changes in Goodwill	$m $m $m Cost At 1 January 12,022 12,143 11,969 Additions through business combinations – – – Exchange and other adjustments (40) (121) 174 At 31 December 11,982 12,022 12,143 Amortisation and impairment losses At 1 January 315 318 311 Exchange and other adjustments (1) (3) 7 At 31 December 314 315 318 Net book value At 31 December 11,668 11,707 11,825

Intangible assets (Tables)

Intangible assets (Tables)	12 Months Ended
	Dec. 31, 2019
Intangible assets
Schedule of reconciliation of changes in intangible assets	Product, Software marketing and Other development distribution rights intangibles costs Total $m $m $m $m Cost At 1 January 2017 41,603 2,580 1,828 46,011 Additions – separately acquired 397 7 37 441 Disposals (249) (67) (62) (378) Exchange and other adjustments 1,162 116 108 1,386 At 31 December 2017 42,913 2,636 1,911 47,460 Additions – separately acquired 476 – 37 513 Transferred to assets held for sale (Note 18) (2,486) – – (2,486) Disposals (630) – (16) (646) Exchange and other adjustments (1,137) (110) (93) (1,340) At 31 December 2018 39,136 2,526 1,839 43,501 Additions – separately acquired 1,835 99 67 2,001 Disposals (35) – (151) (186) Exchange and other adjustments (282) 24 26 (232) At 31 December 2019 40,654 2,649 1,781 45,084 Amortisation and impairment losses At 1 January 2017 15,095 1,836 1,494 18,425 Amortisation for year 1,627 118 84 1,829 Impairment 488 – 3 491 Disposals (19) – (52) (71) Exchange and other adjustments 467 50 81 598 At 31 December 2017 17,658 2,004 1,610 21,272 Amortisation for year 2,016 69 80 2,165 Impairment 683 – – 683 Transferred to assets held for sale (Note 18) (1,504) – – (1,504) Disposals (294) – (13) (307) Exchange and other adjustments (652) (38) (77) (767) At 31 December 2018 17,907 2,035 1,600 21,542 Amortisation for year 1,808 52 68 1,928 Impairment 1,031 – 2 1,033 Disposals (29) – (147) (176) Exchange and other adjustments (112) 10 26 (76) At 31 December 2019 20,605 2,097 1,549 24,251 Net book value At 31 December 2017 25,255 632 301 26,188 At 31 December 2018 21,229 491 239 21,959 At 31 December 2019 20,049 552 232 20,833
Summary of amortisation charges	Product, Software marketing and Other development distribution rights intangibles costs Total $m $m $m $m Year ended 31 December 2017 Cost of sales 149 – – 149 Research and development expense – 43 – 43 Selling, general and administrative costs 1,478 30 84 1,592 Other operating income and expense – 45 – 45 Total 1,627 118 84 1,829 Year ended 31 December 2018 Cost of sales 187 – – 187 Research and development expense – 33 – 33 Selling, general and administrative costs 1,829 32 80 1,941 Other operating income and expense – 4 – 4 Total 2,016 69 80 2,165 Year ended 31 December 2019 Cost of sales 87 – – 87 Research and development expense – 29 – 29 Selling, general and administrative costs 1,721 19 68 1,808 Other operating income and expense – 4 – 4 Total 1,808 52 68 1,928
Summary of impairment charges	Product, Software marketing and Other development distribution rights intangibles costs Total $m $m $m $m Year ended 31 December 2017 Research and development expense 101 – – 101 Selling, general and administrative costs 387 – 3 390 Total 488 – 3 491 Year ended 31 December 2018 Research and development expense 539 – – 539 Selling, general and administrative costs 144 – – 144 Total 683 – – 683 Year ended 31 December 2019 Research and development expense 609 – – 609 Selling, general and administrative costs 425 – 2 427 Other operating income and expense (3) – – (3) Total 1,031 – 2 1,033
Summary of significant intangible assets	Carrying value Remaining amortisation $m period Intangible assets arising from the acquisition of Acerta Pharma 6,263 13 years Intangible assets arising from the acquisition of ZS Pharma 2,794 13 years Farxiga / Forxiga intangible assets acquired from BMS 980 7 years Intangible assets arising from the acquisition of Ardea 1 1,172 Not amortised Intangible assets arising from the restructuring of a historical joint venture with MSD 928 2 to 11 years RSV franchise assets arising from the acquisition of MedImmune 917 6 years Bydureon intangible assets acquired from BMS 747 11 years Intangible assets arising from the acquisition of Pearl Therapeutics 748 9 to 11 years Other diabetes intangible assets acquired from BMS 507 3 to 6 years Onglyza intangible assets acquired from BMS 566 4 years Respiratory intangible assets acquired from Almirall and Actavis 706 7 to 19 years Intangible assets acquired from Daiichi Sankyo 1 1,709 Not amortised Roxadustat intangible assets acquired from FibroGen 1 340 Not amortised 1 Assets in development are not amortised but are tested annually for impairment.

Investments in associates and_2

Investments in associates and joint ventures (Tables)	12 Months Ended
	Dec. 31, 2019
Investments in associates and joint ventures
Schedule of investments in associates and joint ventures	$m $m $m At 1 January 89 103 99 Additions 74 187 76 Share of after tax losses (116) (113) (55) Unrecognised profit on transactions with joint ventures – (64) (27) Exchange and other adjustments 11 (24) 10 At 31 December 58 89 103
Schedule of summarised financial information for the associate and joint venture entities	$m $m $m Non-current assets 298 260 207 Current assets 447 233 158 Total liabilities (89) (71) (41) Net assets 656 422 324 Amount attributable to AstraZeneca 64 104 117 Exchange adjustments (6) (15) (14) Carrying value of investments in associate and joint ventures 58 89 103

Other investments (Tables)

Other investments (Tables)	12 Months Ended
	Dec. 31, 2019
Other investments
Schedule of other investments	$m $m $m Non-current investments Equity securities at fair value through other comprehensive income 1,339 833 – Equity securities available for sale – – 933 Fixed income securities at fair value through profit and loss 62 – – Total 1,401 833 933 Current investments Fixed income securities at fair value through profit and loss 811 809 – Fixed income securities available for sale – – 1,150 Fixed deposits 38 40 80 Total 849 849 1,230
Schedule of analysis equity securities and bonds available for sale	FVPL FVOCI FVPL FVOCI AFS $m $m $m $m $m Level 1 873 1,112 809 667 1,408 Level 2 – – – – – Level 3 – 227 – 166 675 Total 873 1,339 809 833 2,083
Schedule of fair value movements in level 3 investments	FVOCI FVOCI AFS $m $m $m At 1 January 166 675 641 Additions 5 79 53 Revaluations 56 (147) (1) Transfers out 2 (434) (12) Disposals (5) (6) (15) Impairments and exchange adjustments 3 (1) 9 At 31 December 227 166 675

Derivative financial instrume_2

Derivative financial instruments (Tables)	12 Months Ended
	Dec. 31, 2019
Derivative financial instruments
Schedule of derivative financial instruments	Non-current Current Current Non-current assets assets liabilities liabilities Total $m $m $m $m $m Interest rate swaps designated in a fair value hedge – – (3) – (3) Interest rate swaps related to instruments designated at fair value through profit and loss 53 – – – 53 Cross currency swaps designated in a net investment hedge 223 12 – (4) 231 Cross currency swaps designated in a cash flow hedge 197 – – – 197 Cross currency swaps designated in a fair value hedge 1 31 – – – 31 Other derivatives – 16 (21) – (5) 31 December 2017 504 28 (24) (4) 504 Non-current Current Current Non-current assets assets liabilities liabilities Total $m $m $m $m $m Interest rate swaps related to instruments designated at fair value through profit and loss 40 – – – 40 Cross currency swaps designated in a net investment hedge – 213 – (4) 209 Cross currency swaps designated in a cash flow hedge 101 – – – 101 Cross currency swaps designated in a fair value hedge 1 16 – – – 16 Other derivatives – 45 (27) – 18 31 December 2018 157 258 (27) (4) 384 Non-current Current Current Non-current assets assets liabilities liabilities Total $m $m $m $m $m Interest rate swaps related to instruments designated at fair value through profit and loss 43 – – – 43 Cross currency swaps designated in a net investment hedge 4 – – (1) 3 Cross currency swaps designated in a cash flow hedge 4 – – (17) (13) Cross currency swaps designated in a fair value hedge 1 10 – – – 10 Other derivatives – 36 (36) – – 31 December 2019 61 36 (36) (18) 43 1 Cross currency swaps designated in a fair value hedge refers to a cross currency interest rate swap that hedges a designated euro 300m portion of our euro 750m 0.875% 2021 non-callable bond against exposure to movements in the euro:US dollar exchange rate.
Schedule of interest rates on derivative financial instruments	Derivatives (0.5) % to 2.7 % (0.4) % to 3.2 % 1.7 % to 2.2 %

Non-current other receivables (

Non-current other receivables (Tables)	12 Months Ended
	Dec. 31, 2019
Non-current other receivables
Schedule of non-current other receivables	$m $m $m Prepayments 392 461 702 Accrued income 10 – – Other receivables 338 54 145 Non-current other receivables 740 515 847

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2019
Inventories
Schedule of inventory	$m $m $m Raw materials and consumables 830 794 1,024 Inventories in process 1,272 1,450 1,208 Finished goods and goods for resale 1,091 646 803 Inventories 3,193 2,890 3,035

Current trade and other recei_2

Current trade and other receivables (Tables)	12 Months Ended
	Dec. 31, 2019
Current trade and other receivables
Schedule of trade, other current receivables and prepayments	$m $m $m Amounts due within one year Trade receivables 3,606 3,033 2,818 Less: Amounts provided for doubtful debts (Note 27) (21) (38) (16) 3,585 2,995 2,802 Other receivables 1,083 1,143 793 Prepayments 865 871 971 Accrued income 228 492 177 5,761 5,501 4,743 Amounts due after more than one year Other receivables – – 156 Prepayments – 73 110 – 73 266 Trade and other receivables 5,761 5,574 5,009

Cash and cash equivalents (Tabl

Cash and cash equivalents (Tables)	12 Months Ended
	Dec. 31, 2019
Cash and cash equivalents.
Summary of cash and cash equivalents	$m $m $m Cash at bank and in hand 755 893 784 Short-term deposits 4,614 3,938 2,540 Cash and cash equivalents 5,369 4,831 3,324 Unsecured bank overdrafts (146) (160) (152) Cash and cash equivalents in the cash flow statement 5,223 4,671 3,172
Summary of non-cash and other movements within operating activities	$m $m $m Gains on disposal of short-term investments – – (161) Net gains/(losses) on disposal of non-current assets 21 8 (24) Changes in fair value of put option (Acerta Pharma) 172 (113) (209) Share-based payments charge for period 259 219 220 Settlement of share plan awards (323) (212) (254) Pension contributions (175) (174) (157) Pension charges recorded in operating profit 59 128 74 Long-term provision charges recorded in operating profit 506 63 36 Foreign exchange and other (141) (209) (49) Total operating activities non-cash and other movements 378 (290) (524)

Interest-bearing loans and bo_2

Interest-bearing loans and borrowings (Tables)	12 Months Ended
	Dec. 31, 2019
Interest-bearing loans and borrowings
Schedule of interest bearing loans and borrowings	Repayment dates $m $m $m Current liabilities Bank overdrafts On demand 146 160 152 Other short-term borrowings excluding overdrafts 8 – – Bank collateral 1 71 384 513 Lease liabilities 2 188 – 5 Floating rate notes US dollars 2018 – – 399 1.75% Callable bond US dollars 2018 – – 998 1.95% Callable bond US dollars 2019 – 999 – 2.375% Callable bond US dollars 2020 1,597 – – Other loans (Commercial paper) Within one year – 211 180 Total 2,010 1,754 2,247 Non-current liabilities Lease liabilities 2 487 – – 1.95% Callable bond US dollars 2019 – – 999 2.375% Callable bond US dollars 2020 – 1,594 1,591 0.875% Non-callable bond euros 2021 837 854 890 0.25% Callable bond euros 2021 559 570 594 Floating rate notes US dollars 2022 250 250 249 2.375% Callable bond US dollars 2022 996 994 992 7% Guaranteed debentures US dollars 2023 335 325 347 Floating rate notes US dollars 2023 400 400 – 3.5% Callable bond US dollars 2023 846 845 – 0.75% Callable bond euros 2024 1,003 1,022 1,067 3.375% Callable bond US dollars 2025 1,983 1,980 1,978 3.125% Callable bond US dollars 2027 743 743 742 1.25% Callable bond euros 2028 885 903 941 4% Callable bond US dollars 2029 992 992 – 5.75% Non-callable bond pounds sterling 2031 457 443 468 6.45% Callable bond US dollars 2037 2,721 2,721 2,720 4% Callable bond US dollars 2042 987 987 987 4.375% Callable bond US dollars 2045 980 979 979 4.375% Callable bond US dollars 2048 737 736 – Other loans US dollars 19 21 16 Total 16,217 17,359 15,560 Total interest-bearing loans and borrowings 3, 4 18,227 19,113 17,807 1. In 2017, the Group changed its accounting policy such that collateral receipts were included in interest-bearing loans and borrowings. Previously, these were included in short-term deposits. 2. Comparative figures related to finance leases recognised under IAS 17. 3. All loans and borrowings above are unsecured. 4. The floating rate bonds which will be repaid beyond 2021 will be impacted by the change in Libor reference rates.
Schedule of reconciliation of interest bearing loans and borrowings	Total Total loans and loans and borrowings borrowings $m $m At 1 January 19,113 17,807 Adoption of new accounting standards – Lease liabilities 720 – Changes from financing cash flows Issue of loans 500 2,971 Repayment of loans (1,500) (1,400) Movement in short-term borrowings (516) (98) Repayment of lease liabilities (186) – Total changes in cashflows arising on financing activities (1,702) 1,473 Movement in overdrafts (13) 8 New lease liabilities 173 – Exchange (62) (177) Other movements (2) 2 At 31 December 18,227 19,113
Schedule of comparison of carrying values and fair values of interest-bearing loans and borrowings	: Instruments in a Instruments Instruments Total fair value hedge designated designated in Amortised carrying Fair relationship 1 at fair value 2 cash flow hedge cost value value $m $m $m $m $m $m 2017 Overdrafts – – – 152 152 152 Finance leases due within one year 3 – – – 5 5 5 Loans due within one year 596 – – 1,494 2,090 2,092 Loans due after more than one year 304 347 2,602 12,307 15,560 17,031 Total at 31 December 2017 900 347 2,602 13,958 17,807 19,280 2018 Overdrafts – – – 160 160 160 Finance leases due within one year 3 – – – – – – Loans due within one year – – – 1,594 1,594 1,587 Loans due after more than one year 346 325 2,495 14,193 17,359 17,841 Total at 31 December 2018 346 325 2,495 15,947 19,113 19,588 2019 Overdrafts – – – 146 146 146 Lease liabilities due within one year – – – 188 188 188 Lease liabilities due after more than one year – – – 487 487 487 Loans due within one year – – – 1,676 1,676 1,684 Loans due after more than one year 339 335 2,447 12,609 15,730 18,044 Total at 31 December 2019 339 335 2,447 15,106 18,227 20,549 1 Instruments designated as hedged items in a fair value hedge relationship relate to a designated euro 300m portion of our euro 750m 0.875% 2021 non-callable bond. The accumulated amount of fair value hedge adjustments to the bond is a loss of $11m. 2 Instruments designated at fair value through profit or loss include the US dollar 7% guaranteed debentures repayable in 2023. 3 Comparative figures relate to finance leases recognised under IAS 17.
Schedule of interest rates used to discount future cash flows for fair value adjustments	Loans and borrowings (0.5) % to 1.6 % (0.4) % to 2.4 % (0.4) % to 2.0 %

Trade and other payables (Table

Trade and other payables (Tables)	12 Months Ended
	Dec. 31, 2019
Trade and other payables
Schedule of Trade and other payables	$m $m $m Current liabilities Trade payables 1,774 1,720 2,285 Value-added and payroll taxes and social security 323 204 243 Rebates, chargebacks, returns and other revenue accruals 4,410 4,043 3,264 Clinical trial accruals 736 993 922 Other accruals 4,026 3,951 3,324 Collaboration revenue contract liabilities 28 92 – Contingent consideration 897 867 555 Other payables 1,793 971 1,048 Total 13,987 12,841 11,641 Non-current liabilities Accruals 34 7 143 Collaboration revenue contract liabilities 50 78 – Contingent consideration 3,242 4,239 4,979 Acerta Pharma put option liability (Note 26) 2,146 1,838 1,823 Other payables 819 608 895 Total 6,291 6,770 7,840
Schedule of Contingent consideration	$m $m $m At 1 January 5,106 5,534 5,457 Settlements (709) (349) (434) Revaluations (614) (495) 109 Discount unwind (Note 3) 356 416 402 At 31 December 4,139 5,106 5,534
Schedule of maximum development and sales milestones payable under outstanding contingent consideration	Nature of Maximum future milestones Acquisitions Year contingent consideration $m Spirogen Milestones 198 Amplimmune Milestones 200 Omthera Milestones 120 Pearl Therapeutics Milestones 290 BMS’s share of Global Diabetes Alliance 1 Milestones and royalties 600 Almirall 1 Milestones and royalties 450 Definiens 1 Milestones 150 1 These contingent consideration liabilities have been designated as the hedge instrument in a net investment hedge of foreign currency risk arising on the Group’s underlying US dollar net investments held in non-US dollar denominated subsidiaries. Exchange differences on the retranslation of the contingent consideration liability are recognised in Other comprehensive income to the extent that the hedge is effective. Any ineffectiveness is taken to profit.

Provisions (Tables)

Provisions (Tables)	12 Months Ended
	Dec. 31, 2019
Provisions.
Schedule of other provision	Employee Other Severance Environmental benefits Legal provisions Total $m $m $m $m $m $m At 1 January 2017 487 59 143 438 291 1,418 Charge for year 225 11 30 281 55 602 Cash paid (324) (20) (43) (48) (37) (472) Reversals (75) – (10) (40) (44) (169) Exchange and other movements 45 9 6 23 6 89 At 31 December 2017 358 59 126 654 271 1,468 Charge for year 94 65 1 11 30 201 Cash paid (152) (24) (9) (232) (28) (445) Reversals (58) – – (230) (28) (316) Exchange and other movements (16) (3) 1 (5) 6 (17) At 31 December 2018 226 97 119 198 251 891 Charge for year 158 31 18 618 236 1,061 Cash paid (115) (39) (13) (147) (24) (338) Reversals (30) (1) – (28) (17) (76) Exchange and other movements 2 8 6 1 9 26 At 31 December 2019 241 96 130 642 455 1,564
Schedule of maturity period	$m $m $m Due within one year 723 506 1,121 Due after more than one year 841 385 347 Total 1,564 891 1,468

Post-retirement benefits (Table

Post-retirement benefits (Tables)	12 Months Ended
	Dec. 31, 2019
Post-retirement benefits
Schedule of financial assumptions for major defined benefit schemes	2018 UK US Sweden Rest of Group 4 Inflation assumption 3.2 % – 1.9 % 1.7 % Rate of increase in salaries – 1 – 3.4 % 2.5 % Rate of increase in pensions in payment 3.0 % – 1.9 % 1.7 % Discount rate – defined benefit obligation 2.8 % 4.3 % 2.4 % 1.8 % Discount rate – interest cost 2.4 % 3.3 % 2.2 % 1.5 % Discount rate – service cost 2.5 % 3.3 % 2.8 % 1.9 % UK US Sweden Rest of Group 4 Inflation assumption 3.0 % – 1.8 % 1.5 % Rate of increase in salaries – 1 – 3.3 % 2.3 % Rate of increase in pensions in payment 2.8 % – 1.8 % 1.5 % Discount rate – defined benefit obligation 2.0 % 2 3.2 % 1.5 % 1.3 % Discount rate – interest cost 2.7 % 3 3.9 % 2.0 % 1.6 % Discount rate – service cost 2.8 % 3 4.0 % 2.5 % 1.9 % 1 Pensionable pay frozen at 30 June 2010 levels following UK fund changes. 2 Group defined benefit obligation as at 31 December 2019 calculated using discount rates based on market conditions as at 31 December 2019. 3 2019 interest costs and service costs calculated using discount rates based on market conditions as at 31 December 2018. Rest of Group reflects the assumptions in Germany as these have the most material impact on the Group.
Schedule of demographic assumptions for major defined benefit schemes	Life expectancy assumption for a male member retiring at age 65 Life expectancy assumption for a female member retiring at age 65 Country UK 22.4 23.7 23.2 24.7 23.7 25.0 24.0 25.5 US 22.0 24.9 22.2 22.8 23.4 26.6 23.7 26.8 Sweden 21.9 23.6 21.9 23.6 24.5 25.6 24.5 25.6
Schedule of risks associated with the Company's defined benefit pensions	Risk Description Mitigation Volatile asset returns The Defined Benefit Obligation (DBO) is calculated using a discount rate set with reference to AA-rated corporate bond yields; asset returns that differ from the discount rate will create an element of volatility in the solvency ratio. The UK Pension Fund holds a significant proportion of assets (around 72.5%) in a growth portfolio. Although these growth assets are expected to outperform AA-rated corporate bonds in the long term, they can lead to volatility and mismatching risk in the short term. The allocation to growth assets is monitored to ensure it remains appropriate given the UK Pension Fund’s long-term objectives. In order to mitigate investment risk, the Trustee invests in a suitably diversified range of asset classes, return drivers and investment managers. The investment strategy will continue to evolve to further improve the expected risk/return profile as opportunities arise. The Trustee has hedged approximately 80% of unintended non-sterling, overseas currency risk within the UK Pension Fund assets. Changes in bond yields A decrease in corporate bond yields will increase the present value placed on the DBO for accounting purposes. The interest rate hedge of the UK Pension Fund is implemented via holding gilts and swaps of appropriate duration and set at approximately 85% of total assets and protects to some degree against falls in long-term interest rates (approximately 85% hedged at the end of 2018). There is a framework in place to gradually increase the level of interest rate hedging to 100% of assets over time, via a combination of liability management exercises and additional market-based hedging. There are some differences in the bonds and instruments held by the UK Pension Fund to hedge interest rate risk on the statutory and long-term funding basis (gilts and swaps) and the bonds analysed to set the DBO discount rate on an accounting basis (AA corporate bonds). As such, there remains some mismatching risk on an accounting basis should yields on gilts and swaps diverge compared to AA corporate bonds. Inflation risk The majority of the DBO is indexed in line with price inflation (mainly inflation as measured by the UK Retail Price Index (RPI) but also for some members a component of pensions is indexed by the UK Consumer Price Index (CPI)) and higher inflation will lead to higher liabilities (although, in most cases, this is capped at an annual increase of 5%). Should changes be made to align RPI with CPI in the future, then other things being equal, this will lead to lower liability valuations. The UK Pension Fund holds RPI index-linked gilts and derivative instruments such as swaps. The inflation hedge of the UK Pension Fund is set at approximately 85% of total assets and protects to some degree against higher-than-expected inflation increases on the DBO (approximately 88% hedged at the end of 2018). There is a framework in place to gradually increase the level of inflation hedging to 100% of assets over time, via a combination of liability management exercises and additional market-based hedging. Life expectancy The majority of the UK Pension Fund’s obligations are to provide benefits for the life of the member, so increases in life expectancy will result in an increase in the liabilities. The UK Pension Fund entered into a longevity swap during 2013 which provides hedging against the longevity risk of increasing life expectancy over the next 75 years for around 10,000 of the UK Pension Fund’s current pensioners and covers $3.1bn of the UK Pension Fund’s liabilities. A one-year increase in life expectancy will result in a $210m increase in pension fund assets.
Schedule of fair values of scheme assets	Scheme assets UK US Sweden Rest of Group Total Quoted Unquoted Quoted Unquoted Quoted Unquoted Quoted Unquoted Quoted Unquoted Total $m $m $m $m $m $m $m $m $m $m $m Government bonds 1 1,725 – 157 – – – 42 – 1,924 – 1,924 Corporate bonds 2 – – 767 – – – 103 – 870 – 870 Derivatives 3 – (189) – (2) – 147 3 – 3 (44) (41) Investment funds: Listed Equities – 1,197 137 52 – 124 64 14 201 1,387 1,588 Investment funds: Global Macro Hedge 4 – 733 – 72 – 208 – – – 1,013 1,013 Investment funds: Diversified growth/Multi Strategy 4 – 1,712 – 69 – 380 – – – 2,161 2,161 Investment funds: Multi-asset credit 4 – 596 – 38 – 153 – – – 787 787 Cash and cash equivalents 39 176 81 – – 5 – – 120 181 301 Other – – – 8 – – 1 242 1 250 251 Total fair value of scheme assets 5 1,764 4,225 1,142 237 – 1,017 213 256 3,119 5,735 8,854 UK US Sweden Rest of Group Total Quoted Unquoted Quoted Unquoted Quoted Unquoted Quoted Unquoted Quoted Unquoted Total $m $m $m $m $m $m $m $m $m $m $m Government bonds 1 1,749 – 274 – – – 74 – 2,097 – 2,097 Corporate bonds 2 – – 727 – – – 55 – 782 – 782 Derivatives 3 – (354) 3 – – 244 (1) – 2 (110) (108) Investment funds: Listed Equities – 1,474 164 64 – 122 61 – 225 1,660 1,885 Investment funds: Global Macro Hedge 4 – 827 – 73 – 211 – – – 1,111 1,111 Investment funds: Diversified growth/Multi Strategy 4 – 1,861 – 72 – 381 10 – 10 2,314 2,324 Investment funds: Multi-asset credit 4 – 683 – 39 – 162 – – – 884 884 Cash and cash equivalents 55 169 40 44 – 3 – 5 95 221 316 Other – – – 6 – – (1) 309 (1) 315 314 Total fair value of scheme assets 5 1,804 4,660 1,208 298 – 1,123 198 314 3,210 6,395 9,605 1 Predominantly developed markets in nature. 2 Predominantly developed markets in nature and investment grade (AAA−BBB). 3 Includes interest rate swaps, inflation swaps, longevity swap, equity total return swaps and other contracts. More detail is given in the section Risks associated with the Group’s defined benefit pensions on page 204. Valuations are determined by independent third parties. 4 Investment Funds are pooled, commingled vehicles, whereby the pension scheme owns units in the fund, alongside other investors. The pension schemes invest in a number of Investment Funds, including Listed Equities (primarily developed markets with some emerging markets), Multi-asset credit (a range of investment grade and non-investment grade credit), Diversified growth/Multi Strategy (multi-asset exposure both across and within traditional and alternative asset classes), and Global Macro Hedge funds (Discretionary/Fundamental Macro and managed futures). The price of the funds is set by independent administrators/custodians employed by the investment managers and based on the value of the underlying assets held in the fund. Details of pricing methodology is set out within internal control reports provided for each fund. Prices are updated daily, weekly or monthly depending upon the frequency of the fund’s dealing. 5 Included in scheme assets is $nil (2018: $nil) of the Group’s own assets.
Schedule of post-retirement scheme deficit recognised in Consolidated Statement of Financial Position, scheme assets and scheme obligations	Scheme obligations UK US Sweden Rest of Group Total $m $m $m $m $m Present value of scheme obligations in respect of: Active membership (751) (460) (638) (370) (2,219) Deferred membership (1,665) (273) (603) (339) (2,880) Pensioners (4,636) (730) (631) (269) (6,266) Total value of scheme obligations (7,052) (1,463) (1,872) (978) (11,365) UK US Sweden Rest of Group Total $m $m $m $m $m Present value of scheme obligations in respect of: Active membership (502) (114) (770) (406) (1,792) Deferred membership (1,760) (715) (704) (381) (3,560) Pensioners (5,318) (763) (686) (293) (7,060) Total value of scheme obligations (7,580) (1,592) (2,160) (1,080) (12,412) Net deficit in the scheme UK US Sweden Rest of Group Total $m $m $m $m $m Total fair value of scheme assets 5,989 1,379 1,017 469 8,854 Total value of scheme obligations (7,052) (1,463) (1,872) (978) (11,365) Deficit in the scheme as recognised in the (1,063) (84) (855) (509) (2,511) UK US Sweden Rest of Group Total $m $m $m $m $m Total fair value of scheme assets 6,464 1,506 1,123 512 9,605 Total value of scheme obligations (7,580) (1,592) (2,160) (1,080) (12,412) Deficit in the scheme as recognised in the (1,116) (86) (1,037) (568) (2,807) Fair value of scheme assets UK US Sweden Rest of Group Total UK US Sweden Rest of Group Total $m $m $m $m $m $m $m $m $m $m At beginning of year 5,989 1,379 1,017 469 8,854 6,749 1,603 1,147 423 9,922 Interest income on scheme assets 159 51 19 7 236 156 50 24 5 235 Expenses (5) – – (1) (6) (5) (1) (10) 2 (14) Actuarial gains/(losses) 294 183 172 47 696 (351) (106) (18) 1 (474) Exchange and other adjustments 207 – (43) (4) 160 (349) (2) (85) 64 (372) Employer contributions 133 14 5 23 175 143 14 10 7 174 Participant contributions 2 – – – 2 2 – – 1 3 Benefits paid (315) (121) (47) (29) (512) (356) (179) (51) (34) (620) Scheme assets’ fair value at end of year 6,464 1,506 1,123 512 9,605 5,989 1,379 1,017 469 8,854 The actual return on the plan assets was a gain of $932m (2018: loss of $239m). Movement in post-retirement scheme obligations UK US Sweden Rest of Group Total UK US Sweden Rest of Group Total $m $m $m $m $m $m $m $m $m $m Present value of obligations in scheme at beginning of year (7,052) (1,463) (1,872) (978) (11,365) (8,032) (1,707) (1,811) (955) (12,505) Current service cost (18) (4) (44) (21) (87) (23) (4) (32) (15) (74) Past service credit/(cost) 34 – (3) 3 34 (34) – (6) – (40) Participant contributions (2) – – – (2) (2) – – (1) (3) Benefits paid 315 121 47 29 512 356 179 51 34 620 Interest expense on post-retirement scheme obligations (186) (55) (33) (15) (289) (185) (53) (36) (13) (287) Actuarial (losses)/gains (435) (191) (328) (106) (1,060) 472 121 (177) 12 428 Exchange and other adjustments (236) – 73 8 (155) 396 1 139 (40) 496 Present value of obligations in scheme at end of year (7,580) (1,592) (2,160) (1,080) (12,412) (7,052) (1,463) (1,872) (978) (11,365) The obligations arise from the following plans: UK US Sweden Rest of Group Total UK US Sweden Rest of Group Total $m $m $m $m $m $m $m $m $m $m Funded – pension schemes (7,561) (1,280) (2,160) (531) (11,532) (7,034) (1,139) (1,872) (479) (10,524) Funded – post-retirement healthcare – (216) – – (216) – (230) – – (230) Unfunded – pension schemes – (96) – (532) (628) – (94) – (483) (577) Unfunded – post-retirement healthcare (19) – – (17) (36) (18) – – (16) (34) Total (7,580) (1,592) (2,160) (1,080) (12,412) (7,052) (1,463) (1,872) (978) (11,365)
Schedule of pension cost	$m $m Defined contribution schemes 432 341 Defined benefit schemes − current service costs and expenses 93 88 Defined benefit schemes − past service costs (34) 40 Pension costs 491 469
Schedule of amounts charged to Consolidated Statement of Comprehensive Income, in respect of defined benefit schemes	UK US Sweden Rest of Group Total UK US Sweden Rest of Group Total $m $m $m $m $m $m $m $m $m $m Operating profit Current service cost (18) (4) (44) (21) (87) (23) (4) (32) (15) (74) Past service credit/(cost) 34 – (3) 3 34 (34) – (6) – (40) Expenses (5) – – (1) (6) (5) (1) (10) 2 (14) Total charge to Operating profit 11 (4) (47) (19) (59) (62) (5) (48) (13) (128) Finance expense Interest income on scheme assets 159 51 19 7 236 156 50 24 5 235 Interest expense on post-retirement scheme obligations (186) (55) (33) (15) (289) (185) (53) (36) (13) (287) Net interest on post-employment defined benefit plan liabilities (27) (4) (14) (8) (53) (29) (3) (12) (8) (52) Charge before taxation (16) (8) (61) (27) (112) (91) (8) (60) (21) (180) Other comprehensive income Difference between the actual return and the expected return 294 183 172 47 696 (351) (106) (18) 1 (474) Experience gains/(losses) arising on the 39 (30) (10) (5) (6) (26) (35) (17) 6 (72) Changes in financial assumptions underlying the present value (771) (182) (318) (104) (1,375) 389 151 (160) 13 393 Changes in demographic assumptions 297 21 – 3 321 109 5 – (7) 107 Remeasurement of the defined benefit liability (141) (8) (156) (59) (364) 121 15 (195) 13 (46)
Schedule of rate sensitivities of significant actuarial assumptions	+0.5% −0.5% +0.5% −0.5% Discount rate UK ($m) 559 (628) 520 (586) US ($m) 91 (97) 78 (83) Sweden ($m) 183 (211) 152 (174) Total ($m) 833 (936) 750 (843) +0.5% −0.5% +0.5% −0.5% Inflation rate 1 UK ($m) (374) 349 (444) 421 US ($m) – – – – Sweden ($m) (203) 176 (171) 151 Total ($m) (577) 525 (615) 572 +0.5% −0.5% +0.5% −0.5% Rate of increase in salaries UK ($m) – – – – US ($m) – – – – Sweden ($m) (68) 63 (52) 48 Total ($m) (68) 63 (52) 48 +1 year −1 year +1 year −1 year Mortality rate UK ($m) (328) 2 326 3 (301) 302 US ($m) (30) 30 (24) 24 Sweden ($m) (85) 84 (68) 68 Total ($m) (443) 440 (393) 394 1 Rate of increase in pensions in payment follows inflation. 2 Of the $328m increase, $210m is covered by the longevity swap. Of the $326m decrease, $210m is covered by the longevity swap.

Reserves (Tables)

Reserves (Tables)	12 Months Ended
	Dec. 31, 2019
Reserves
Reconciliation of reserves	$m $m $m Cumulative translation differences included within retained earnings At 1 January (2,007) (1,017) (2,028) Foreign exchange arising on consolidation 40 (450) 536 Exchange adjustments on goodwill (recorded against other reserves) (5) (12) 18 Foreign exchange arising on designating borrowings in net investment hedges 1 (252) (520) 505 Fair value movement on derivatives designated in net investment hedges 35 (8) (48) Net exchange movement in retained earnings (182) (990) 1,011 At 31 December (2,189) (2,007) (1,017) 1. Foreign exchange arising on designated borrowings in net investment hedges includes $(5)m in respect of designated bonds and $(247)m in respect of designated contingent consideration liabilities. The change in value of designated contingent consideration liabilities relates to $(174)m in respect of BMS’ share of Global Diabetes Alliance, $11m in respect of Almirall, $(1)m in respect of Definiens and $(83)m in relation to the put option liability in Acerta Pharma.

Share capital of the Company (T

Share capital of the Company (Tables)	12 Months Ended
	Dec. 31, 2019
Share capital of the Company
Summary of classes of share capital	Allotted, called-up and fully paid $m $m $m Issued Ordinary Shares ($0.25 each) 328 317 317 Redeemable Preference Shares (£1 each – £50,000) – – – At 31 December 328 317 317
Summary of movement of ordinary shares	No. of shares At 1 January 1,267,039,436 1,266,221,605 1,265,229,424 Issue of shares (share placing) 44,386,214 – – Issue of shares (share schemes) 712,326 817,831 992,181 At 31 December 1,312,137,976 1,267,039,436 1,266,221,605

Dividends to shareholders (Tabl

Dividends to shareholders (Tables)	12 Months Ended
	Dec. 31, 2019
Dividends to shareholders
Summary of dividends to shareholders	Per share Per share Per share $m $m $m Second interim (March 2019) $ $ $ 2,403 2,402 2,404 First interim (September 2019) $ $ $ 1,180 1,139 1,139 Total $ $ $ 3,583 3,541 3,543
Reconciliation of dividends paid	$m $m $m Dividends charged to equity 3,583 3,541 3,543 Exchange losses/(gains) on payment of dividend 5 10 (4) Hedge contracts relating to payment of dividends (cash flow statement) 4 (67) (20) Dividends paid (cash flow statement) 3,592 3,484 3,519

Non-controlling interests (Tabl

Non-controlling interests (Tables)	12 Months Ended
	Dec. 31, 2019
Non-controlling interests.
Summarised financial information for non-controlling interests	$m $m $m Total Revenue – – – (Loss)/profit after tax (422) (9) 412 Other comprehensive income – – – Total comprehensive (loss)/income (422) (9) 412 $m $m $m Non-current assets 157 3 Current assets 475 904 Total assets 632 907 Current liabilities (310) (417) Non-current liabilities (267) – – Total liabilities (577) (417) Net assets/(liabilities) 55 490 $m $m $m Net cash (outflow)/inflow from operating activities (13) 7 5 Net cash inflow/(outflow) from investing activities 7 (4) – Net cash inflow from financing activities 7 – – Increase/(decrease) in cash and cash equivalents in the year 1 3 5

Financial risk management obj_2

Financial risk management objectives and policies (Tables)	12 Months Ended
	Dec. 31, 2019
Financial risk
Schedule of Group's continuing hedge relationships	2017 Other comprehensive income Fair value loss Opening Fair value recycled Closing Nominal balance (gain)/loss to the balance Average amounts Carrying 1 January deferred income 31 December Average Average pay in local value to OCI statement maturity USD FX interest currency $m $m $m $m $m year rate rate Fair value hedge – foreign currency and interest rate risk Cross currency interest rate swap – Euro bond EUR 300m 31 – – – – 1.09 USD LIBOR + 1.27% Cash flow hedges – foreign currency and interest rate risk Cross currency interest rate swaps – Euro bonds EUR 2,200m 197 (80) (311) 315 (76) 1.14 USD 2.69% Net investment hedge – foreign exchange risk Transactions matured pre 2017 – (338) – – (338) – – – Cross currency interest rate swap – JPY investment JPY 58.5bn 223 (242) 19 – (223) 78.01 JPY 0.35% Cross currency interest rate swap – CNY investment CNY 458m (4) (7) 11 – 4 6.68 CNY 4.80% Cross currency interest rate swap – CNY investment CNY 919m 12 (29) 17 – (12) 6.09 CNY 3.12% Foreign currency borrowing – GBP investment GBP 350m (468) (281) 41 – (240) n/a GBP 5.75% Foreign currency borrowing – EUR investment EUR 450m (586) – 65 – 65 n/a EUR 0.88% Contingent consideration liabilities – AZUK and AZAB USD investments USD 6,379m (6,379) 1,850 (611) – 1,239 – – – 2018 Other comprehensive income Fair value (gain) Opening Fair value recycled Closing Nominal balance loss(gain) to the balance Average amounts Carrying 1 January deferred income 31 December Average Average pay in local value to OCI statement maturity USD FX interest currency $m $m $m $m $m year rate rate Fair value hedge – foreign currency and interest rate risk 1 Cross currency interest rate swap – Euro bond EUR 300m 16 – – – – 1.09 USD LIBOR + 1.27% Cash flow hedges – foreign currency and interest rate risk 2, 4 Cross currency interest rate swaps – Euro bonds EUR 2,200m 101 (76) 95 (111) (92) 1.14 USD 2.69% Net investment hedge – foreign exchange risk 3, 4 Transactions matured pre 2018 – (338) – – (338) – – – Cross currency interest rate swap – JPY investment JPY 58.5bn 213 (223) 10 – (213) 78.01 JPY 0.35% Cross currency interest rate swap – CNY investment CNY 458m (4) 4 – – 4 6.68 CNY 4.80% Cross currency interest rate swap – CNY investment CNY 919m – (12) (6) – (18) 6.09 CNY 3.12% Foreign currency borrowing – GBP investment GBP 350m (443) (240) (25) – (265) n/a GBP 5.75% Foreign currency borrowing – EUR investment EUR 450m (508) 65 (21) – 44 n/a EUR 0.88% Contingent consideration liabilities – AZUK and AZAB USD investments USD 6,015m (6,015) 1,239 566 – 1,805 – – – 2019 Other comprehensive income Fair value (gain) Opening Fair value recycled Closing Nominal balance loss/(gain) to the balance Average amounts Carrying 1 January deferred income 31 December Average Average pay in local value to OCI statement maturity USD FX interest currency $m $m $m $m $m year rate rate Fair value hedge – foreign currency and interest rate risk 1 Cross currency interest rate swap – Euro bond EUR 300m 10 – – – – 1.09 USD LIBOR + 1.27% Cash flow hedges – foreign currency and interest rate risk 2, 4 Cross currency interest rate swaps – Euro bonds EUR 2,200m (13) (92) 114 (52) (30) 1.14 USD 2.69% Net investment hedge – foreign exchange risk 3, 4 Transactions matured pre 2019 – (356) – – (356) – – – Cross currency interest rate swap – JPY investment 5 JPY 58.5bn – (213) 4 – (209) 78.01 JPY 0.35% Cross currency interest rate swap – JPY investment JPY 58.3bn 4 – (4) – (4) 108.03 JPY 1.53% Cross currency interest rate swap – CNY investment CNY 458m (1) 4 (3) – 1 6.68 CNY 4.80% Foreign currency borrowing – GBP investment GBP 350m (457) (265) 14 – (251) n/a GBP 5.75% Foreign currency borrowing – EUR investment EUR 450m (498) 44 (10) – 34 n/a EUR 0.88% Contingent consideration liabilities – AZUK and AZAB USD investments USD 5,583m (5,583) 1,805 248 – 2,053 – – – 1. Hedge ineffectiveness recognised on swaps designated in a fair value hedge during the period was a gain of $3m (2018: loss of $3m). 2. Hedge ineffectiveness recognised on swaps designated in a cash flow hedge during the period was $nil (2018: $nil). 3. Hedge ineffectiveness recognised on swaps designated in a net investment hedge during the period was $nil (2018: $nil). 4. Fair value movements on cross currency interest rate swaps in cash flow hedge and net investment hedge relationships are shown inclusive of the impact of costs of hedging. 5. In September 2019, the maturity of our JPY 58.5bn cross currency interest rate swap resulted in a net cash inflow of $209m. The cash flow associated with the settlement has been reflected in cash flows from investing activities within the Consolidated Statement of Cash Flows on page 171, as its primary purpose was to hedge the translation foreign exchange risk arising on the consolidation of the Group’s net investment in Japan.
Schedule of liquidity risk	Bank Total Derivative Derivative Total overdrafts Trade non-derivative financial financial derivative and other Finance and other financial instruments instruments financial loans Bonds leases 1 payables instruments receivable 2 payable 2 instruments Total $m $m $m $m $m $m $m $m $m Within one year 859 1,985 5 11,840 14,689 (6,996) 7,020 24 14,713 In one to two years – 1,564 – 1,976 3,540 (803) 601 (202) 3,338 In two to three years – 2,144 – 1,586 3,730 (39) 80 41 3,771 In three to four years 16 2,000 – 3,240 5,256 (994) 971 (23) 5,233 In four to five years – 1,736 – 1,112 2,848 (34) 59 25 2,873 In more than five years – 15,575 – 2,808 18,383 (2,198) 2,217 19 18,402 875 25,004 5 22,562 48,446 (11,064) 10,948 (116) 48,330 Effect of interest (14) (7,969) – – (7,983) 286 (720) (434) (8,417) Effect of discounting, fair values and issue costs – (94) – (3,081) (3,175) 9 37 46 (3,129) 31 December 2017 861 16,941 5 19,481 37,288 (10,769) 10,265 (504) 36,784 Bank Total Derivative Derivative Total overdrafts Trade non-derivative financial financial derivative and other Finance and other financial instruments instruments financial loans Bonds leases 1 payables instruments receivable 2 payable 2 instruments 2 Total $m $m $m $m $m $m $m $m $m Within one year 774 1,629 – 13,029 15,432 (10,368) 10,171 (197) 15,235 In one to two years 7 2,210 – 1,688 3,905 (35) 82 47 3,952 In two to three years 14 2,002 – 833 2,849 (950) 974 24 2,873 In three to four years – 1,813 – 3,340 5,153 (30) 58 28 5,181 In four to five years – 2,069 – 776 2,845 (30) 58 28 2,873 In more than five years – 17,405 – 2,084 19,489 (2,084) 2,154 70 19,559 795 27,128 – 21,750 49,673 (13,497) 13,497 – 49,673 Effect of interest (2) (8,669) – – (8,671) 251 (509) (258) (8,929) Effect of discounting, fair values and issue costs (17) (122) – (2,139) (2,278) (9) (117) (126) (2,404) 31 December 2018 776 18,337 – 19,611 38,724 (13,255) 12,871 (384) 38,340 Bank Total Derivative Derivative Total overdrafts Trade non-derivative financial financial derivative and other Lease and other financial instruments instruments financial loans Bonds liability 1 payables instruments receivable payable 2 instruments Total $m $m $m $m $m $m $m $m $m Within one year 234 2,207 205 14,054 16,700 (11,956) 11,985 29 16,729 In one to two years 14 1,970 158 1,769 3,911 (955) 976 21 3,932 In two to three years – 1,810 117 1,811 3,738 (54) 67 13 3,751 In three to four years – 2,068 79 1,592 3,739 (54) 67 13 3,752 In four to five years – 1,479 50 1,652 3,181 (1,051) 1,079 28 3,209 In more than five years – 15,906 128 1,052 17,086 (1,648) 1,654 6 17,092 248 25,440 737 21,930 48,355 (15,718) 15,828 110 48,465 Effect of interest (1) (8,038) – – (8,039) 409 (488) (79) (8,118) Effect of discounting, fair values and issue costs (3) (94) (62) (1,619) (1,778) (20) (54) (74) (1,852) 31 December 2019 244 17,308 675 20,311 38,538 (15,329) 15,286 (43) 38,495 1. Comparative figures relate to Finance leases recognised under IAS 17. 2. The maturity profile table has been amended in 2019 to show gross derivative flows and to include all derivatives shown in Note 13 on page 195. In previous periods the table separately disclosed the net cash flows on interest rate swaps and cross-currency swaps. Other derivative instruments amounting to $18m in 2018 and $5m in 2017 were not included in the table.
Schedule of market risk	Fixed rate Floating rate Total Fixed rate Floating rate Total Fixed rate Floating rate Total $m $m $m $m $m $m $m $m $m Financial liabilities Interest-bearing loans and borrowings Current 1,785 225 2,010 999 755 1,754 404 1,843 2,247 Non-current 14,893 1,324 16,217 16,038 1,321 17,359 14,608 952 15,560 Total 16,678 1,549 18,227 17,037 2,076 19,113 15,012 2,795 17,807 Financial assets Fixed deposits 38 – 38 40 – 40 – 80 80 Cash and cash equivalents – 5,369 5,369 – 4,831 4,831 – 3,324 3,324 Total 38 5,369 5,407 40 4,831 4,871 – 3,404 3,404
Schedule of market risk on equity securities	$m $m $m Equity securities at fair value through Other comprehensive income (Note 12) 1,339 833 – Equity securities available for sale (Note 12) – – 933 Total 1,339 833 933
Schedule of foreign currency risk	. Interest rates Exchange rates 31 December 2017 +1% −1% +10% −10% Increase/(decrease) in fair value of financial instruments ($m) 1,329 (1,293) 198 (198) Impact on profit: (loss)/gain ($m) – – (123) 123 Impact on equity: gain/(loss) ($m) – – 321 (321) Interest rates Exchange rates 31 December 2018 +1% −1% +10% −10% Increase/(decrease) in fair value of financial instruments ($m) 1,130 (1,267) (146) 161 Impact on profit: (loss)/gain ($m) – – (299) 348 Impact on equity: gain/(loss) ($m) – – 153 (187) Interest rates Exchange rates 31 December 2019 +1% −1% +10% −10% Increase/(decrease) in fair value of financial instruments ($m) 1,417 (1,521) (4) (36) Impact on profit: (loss)/gain ($m) – – (174) 172 Impact on equity: gain/(loss) ($m) – – 170 (208)
Schedule of ageing of trade receivables	$m $m $m Not past due 3,176 2,853 2,488 Past due 0–90 days 310 81 260 Past due 90–180 days 80 24 31 Past due > 180 days 19 37 23 3,585 2,995 2,802
Schedule of the movement in provisions for trade receivables	$m $m $m Movements in provisions for trade receivables At 1 January 38 16 42 Income statement (13) 22 (26) Amounts utilised, exchange and other movements (4) – – At 31 December 21 38 16
Credit risk assets
Financial risk
Schedule of credit risk	Current assets $m $m $m Cash at bank and in hand 755 893 784 Money market liquidity fund 4,110 3,435 1,150 Collateralised repurchase agreement 400 400 1,150 Other short-term cash equivalents 104 103 240 Total Cash and cash equivalents (Note 17) 5,369 4,831 3,324 Fixed income securities at fair value through profit and loss (Note 12) 811 809 – Fixed income securities available for sale (Note 12) – – 1,150 Fixed deposits (Note 12) 38 40 80 Total derivative financial instruments (Note 13) 36 258 28 Current assets subject to credit risk 6,254 5,938 4,582 Non-current assets $m $m $m Fixed income securities at fair value through profit and loss (Note 12) 62 – – Derivative financial instruments (Note 13) 61 157 504 Non-current assets subject to credit risk 123 157 504
Trade receivables
Financial risk
Schedule of credit risk	0-90 days 90-180 days Over 180 days 1 January 2018 Current past due past due past due Total Expected loss rate % 0.75 % 5 % 33 % Gross carrying amount ($m) 2,490 262 31 35 2,818 Loss allowance ($m) 1 2 1 12 16 0-90 days 90-180 days Over 180 days 31 December 2018 Current past due past due past due Total Expected loss rate % 0.75 % 10 % 47 % Gross carrying amount ($m) 2,854 82 27 70 3,033 Loss allowance ($m) 1 1 3 33 38 0-90 days 90-180 days Over 180 days 31 December 2019 Current past due past due past due Total Expected loss rate % 0.75 % 2 % 44 % Gross carrying amount($m) 3,178 312 82 34 3,606 Loss allowance ($m) 2 2 2 15 21

Employee costs and share plan_2

Employee costs and share plans for employees (Tables)	12 Months Ended
	Dec. 31, 2019
Share plans
Schedules of employee numbers	Employees UK 7,400 7,200 6,900 Continental Europe 15,500 14,800 14,500 The Americas 16,600 16,700 16,300 Asia, Africa & Australasia 27,800 24,500 22,300 Continuing operations 67,300 63,200 60,000
Schedule of employee costs	$m $m $m Salaries 5,648 5,370 5,004 Social security costs 658 626 570 Pension costs 491 469 378 Other employment costs 771 505 534 Total 7,568 6,970 6,486
AstraZeneca 2014 Performance Share Plan
Share plans
Schedule of shares awarded	Shares WAFV 1 WAFV 1 ʼ 000 pence $ Shares awarded in March 2017 2,359 2440 30.88 Shares awarded in May 2017 10 2607 34.20 Shares awarded in August 2017 44 2234 29.11 Shares awarded in March 2018 3,400 2427 34.62 Shares awarded in May 2018 18 2651 36.42 Shares awarded in August 2018 92 2982 38.46 Shares awarded in March 2019 2,899 3144 42.00 Shares awarded in May 2019 5 2918 37.77 Shares awarded in August 2019 79 3640 44.28 Shares awarded in November 2019 13 3663 47.42 1 Weighted average fair value.
AstraZeneca Global Restricted Stock Plan
Share plans
Schedule of shares awarded	Shares WAFV WAFV ʼ000 pence $ Shares awarded in March 2017 2,502 4880 61.76 Shares awarded in May 2017 78 5214 68.40 Shares awarded in August 2017 31 4468 58.22 Shares awarded in November 2017 77 4942 66.24 Shares awarded in March 2018 4,474 4853 69.24 Shares awarded in August 2018 40 5964 76.92 Shares awarded in November 2018 3 6300 82.86 Shares awarded in March 2019 4,527 6287 84.00 Shares awarded in May 2019 1 5835 75.54 Shares awarded in August 2019 114 7280 88.56 Shares awarded in November 2019 2 7326 94.84
AstraZeneca Restricted Share Plan
Share plans
Schedule of shares awarded	Shares WAFV WAFV ʼ000 pence $ Shares awarded in February 2017 205 4293 55.50 Shares awarded in March 2017 134 4880 61.76 Shares awarded in May 2017 8 5214 68.40 Shares awarded in August 2017 26 4468 58.22 Shares awarded in September 2017 31 4765 65.60 Shares awarded in November 2017 23 4942 66.24 Shares awarded in March 2018 148 4853 69.24 Shares awarded in May 2018 45 5301 72.84 Shares awarded in August 2018 37 5964 76.92 Shares awarded in November 2018 38 6300 82.86 Shares awarded in March 2019 95 6287 84.00 Shares awarded in May 2019 25 5835 75.54 Shares awarded in August 2019 56 7280 88.56 Shares awarded in November 2019 105 7326 94.84
Astrazeneca Extended Incentive Plan
Share plans
Schedule of shares awarded	Shares WAFV WAFV ʼ000 pence $ Shares awarded in August 2019 24 7280 88.56 Shares awarded in November 2019 20 7326 94.84

Commitments and contingent li_2

Commitments and contingent liabilities (Tables)	12 Months Ended
	Dec. 31, 2019
Legal Proceedings and Contingent Liabilities
Schedule of commitments	Commitments $m $m $m Contracts placed for future capital expenditure on Property, plant and equipment and 396 586 570
Schedule of potential development and revenue-related payments	Years 5 Total Under 1 year Years 1 and 2 Years 3 and 4 and greater $m $m $m $m $m Future potential research and development milestone payments 9,956 438 1,479 1,581 6,458 Future potential revenue milestone payments 6,654 59 138 818 5,639

Statutory and other informati_2

Statutory and other information (Tables)	12 Months Ended
	Dec. 31, 2019
Statutory and other information
Schedule of auditor's remuneration	$m $m $m Fees payable to PricewaterhouseCoopers LLP and its associates: Group audit fee 3.9 3.8 3.0 Fees payable to PricewaterhouseCoopers LLP and its associates for other services: The audit of subsidiaries pursuant to legislation 8.3 9.4 5.7 Attestation under s404 of Sarbanes-Oxley Act 2002 2.0 2.0 2.0 Audit-related assurance services 0.3 0.8 0.4 Tax compliance services – 0.1 – Other assurance services 0.1 0.9 – Fees payable to PricewaterhouseCoopers Associates in respect of the Group’s pension schemes: The audit of subsidiaries’ pension schemes 0.3 0.4 – 14.9 17.4 11.1
Schedule of key management personnel compensation	$’000 $’000 $’000 Short-term employee benefits 31,329 32,523 28,274 Post-employment benefits 1,766 2,387 2,469 Share-based payments 19,210 23,605 16,452 52,305 58,515 47,195

Group Accounting Policies - IFR

Group Accounting Policies - IFRS 16 and IFRIC 23 (Details) € in Millions, $ in Millions	Jan. 01, 2019USD ($)	Dec. 31, 2019USD ($)item	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2019EUR (€)	Dec. 31, 2019USD ($)	Dec. 31, 2018EUR (€)	Dec. 31, 2018USD ($)	Dec. 31, 2017EUR (€)	Dec. 31, 2017USD ($)
Application of new accounting standards
Retained earnings						$ 2,812		$ 5,683		$ 8,221
Right-of-use assets						647
Lease liabilities						675
Net decrease in cash and cash equivalents in the period		$ 547	$ 1,537	$ (1,686)
Net cash inflow/(outflow) from financing activities		(1,765)	(2,044)	(2,936)
Net cash inflow/(outflow) from operating activities		2,969	$ 2,618	3,578
Repayment of lease obligation		$ 186		$ 14
Current tax liabilities						1,361		1,164		1,350
Trade and other payables						13,987		12,841		11,641
Number of hedge relationship isntruments effected with LIBOR | item		1
Borrowings						$ 18,227		$ 19,113		$ 17,807
0.875% Non-callable bond
Application of new accounting standards
Interest rate on lease liabilities					0.875%	0.875%	0.875%	0.875%	0.875%	0.875%
Borrowings | €					€ 750		€ 750		€ 750
IFRS 16
Application of new accounting standards
Retained earnings	$ 0
Right-of-use assets	722
Lease liabilities	$ 720
Interest rate on lease liabilities	3.00%
Net decrease in cash and cash equivalents in the period	$ 0
Net cash inflow/(outflow) from financing activities	(186)
Net cash inflow/(outflow) from operating activities	186
IFRIC 23 | Changes in accounting policy required by IFRSs
Application of new accounting standards
Retained earnings	54
Current tax liabilities	(51)
Trade and other payables	$ (3)
Interest rate swaps | Instruments in a fair value hedge relationship | Group's EUR denominated net assets
Application of new accounting standards
Nominal amounts in local currency | €					300		300		300

Group Accounting Policies (Deta

Group Accounting Policies (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2003
Group Accounting Policies
Financial resources	$ 10,400,000,000
Cash balances	5,400,000,000
Liquid fixed income securities	900,000,000
Undrawn committed bank facilities	4,100,000,000
Interest-bearing loans and borrowings	1,822,000,000	$ 1,754,000,000	$ 2,247,000,000
Intangible assets	$ 20,833,000,000	$ 21,959,000,000	$ 26,188,000,000
Period of time return accruals are based on	12 months
Sales recorded when the Company is the principal in a profit share agreement (as a percentage)	100.00%
Maximum value of underlying asset for low-value leases	$ 5,000
Cumulative translation reserve				$ 0
Minimum | Buildings
Group Accounting Policies
Asset lives, property, plant and equipment	10 years
Minimum | Plant and equipment
Group Accounting Policies
Asset lives, property, plant and equipment	3 years
Minimum | Motor vehicles
Group Accounting Policies
Asset lives, property, plant and equipment	3 years
Minimum | Other assets
Group Accounting Policies
Asset lives, property, plant and equipment	3 years
Maximum | Buildings
Group Accounting Policies
Asset lives, property, plant and equipment	50 years
Maximum | Plant and equipment
Group Accounting Policies
Asset lives, property, plant and equipment	15 years
Maximum | Motor vehicles
Group Accounting Policies
Asset lives, property, plant and equipment	15 years
Maximum | Other assets
Group Accounting Policies
Asset lives, property, plant and equipment	15 years
Internally generated | Capitalised development expenditure
Group Accounting Policies
Intangible assets	$ 0
Years 3 and 4
Group Accounting Policies
Undrawn committed bank facilities	3,400,000,000
Years 2 and 3
Group Accounting Policies
Undrawn committed bank facilities	500,000,000
Years 1 and 2
Group Accounting Policies
Undrawn committed bank facilities	200,000,000
Due within one year
Group Accounting Policies
Undrawn committed bank facilities	$ 2,000,000,000

Revenue (Details)

Revenue (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenues
Revenue	$ 23,565	$ 21,049	$ 20,152
Emerging Markets
Revenues
Revenue	8,165	6,891	6,149
US
Revenues
Revenue	$ 7,747	$ 6,876	$ 6,169
Rebate, returns and chargebacks (as a percent)	3.60%	3.20%	8.90%
Europe
Revenues
Revenue	$ 4,350	$ 4,459	$ 4,753
World
Revenues
Revenue	3,303	2,823	3,081
Oncology
Revenues
Revenue	8,667	6,028	4,024
Oncology | Emerging Markets
Revenues
Revenue	2,211	1,528	1,126
Oncology | US
Revenues
Revenue	3,449	2,412	1,120
Oncology | Europe
Revenues
Revenue	1,423	1,053	885
Oncology | World
Revenues
Revenue	1,584	1,035	893
Tagrisso
Revenues
Revenue	3,189	1,860	955
Tagrisso | Emerging Markets
Revenues
Revenue	762	347	135
Tagrisso | US
Revenues
Revenue	1,268	869	405
Tagrisso | Europe
Revenues
Revenue	474	314	187
Tagrisso | World
Revenues
Revenue	685	330	228
Imfinzi
Revenues
Revenue	1,469	633	19
Imfinzi | Emerging Markets
Revenues
Revenue	30	6
Imfinzi | US
Revenues
Revenue	1,041	564	19
Imfinzi | Europe
Revenues
Revenue	179	27
Imfinzi | World
Revenues
Revenue	219	36
Lynparza
Revenues
Revenue	1,198	647	297
Lynparza | Emerging Markets
Revenues
Revenue	133	51	18
Lynparza | US
Revenues
Revenue	626	345	141
Lynparza | Europe
Revenues
Revenue	287	190	130
Lynparza | World
Revenues
Revenue	152	61	8
Calquence
Revenues
Revenue	164	62	3
Calquence | Emerging Markets
Revenues
Revenue	2
Calquence | US
Revenues
Revenue	162	62	3
Faslodex
Revenues
Revenue	892	1,028	941
Faslodex | Emerging Markets
Revenues
Revenue	198	154	115
Faslodex | US
Revenues
Revenue	328	537	492
Faslodex | Europe
Revenues
Revenue	229	221	256
Faslodex | World
Revenues
Revenue	137	116	78
Zoladex
Revenues
Revenue	813	752	735
Zoladex | Emerging Markets
Revenues
Revenue	492	409	353
Zoladex | US
Revenues
Revenue	7	8	15
Zoladex | Europe
Revenues
Revenue	135	133	141
Zoladex | World
Revenues
Revenue	179	202	226
Iressa
Revenues
Revenue	423	518	528
Iressa | Emerging Markets
Revenues
Revenue	286	286	251
Iressa | US
Revenues
Revenue	17	26	39
Iressa | Europe
Revenues
Revenue	70	109	112
Iressa | World
Revenues
Revenue	50	97	126
Arimidex
Revenues
Revenue	225	212	217
Arimidex | Emerging Markets
Revenues
Revenue	152	132	118
Arimidex | US
Revenues
Revenue			7
Arimidex | Europe
Revenues
Revenue	28	31	34
Arimidex | World
Revenues
Revenue	45	49	58
Casodex
Revenues
Revenue	200	201	215
Casodex | Emerging Markets
Revenues
Revenue	127	113	108
Casodex | US
Revenues
Revenue		1	(1)
Casodex | Europe
Revenues
Revenue	16	20	22
Casodex | World
Revenues
Revenue	57	67	86
Oncology, Others
Revenues
Revenue	94	115	114
Oncology, Others | Emerging Markets
Revenues
Revenue	29	30	28
Oncology, Others | Europe
Revenues
Revenue	5	8	3
Oncology, Others | World
Revenues
Revenue	60	77	83
CVRM
Revenues
Revenue	6,906	6,710	7,266
CVRM | Emerging Markets
Revenues
Revenue	2,978	2,695	2,367
CVRM | US
Revenues
Revenue	2,209	2,206	2,371
CVRM | Europe
Revenues
Revenue	1,151	1,230	1,659
CVRM | World
Revenues
Revenue	568	579	869
Farxiga
Revenues
Revenue	1,543	1,391	1,074
Farxiga | Emerging Markets
Revenues
Revenue	471	336	232
Farxiga | US
Revenues
Revenue	537	591	489
Farxiga | Europe
Revenues
Revenue	373	315	242
Farxiga | World
Revenues
Revenue	162	149	111
Brilinta
Revenues
Revenue	1,581	1,321	1,079
Brilinta | Emerging Markets
Revenues
Revenue	462	326	224
Brilinta | US
Revenues
Revenue	710	588	509
Brilinta | Europe
Revenues
Revenue	351	348	295
Brilinta | World
Revenues
Revenue	58	59	51
Bydureon
Revenues
Revenue	549	584	574
Bydureon | Emerging Markets
Revenues
Revenue	11	8	9
Bydureon | US
Revenues
Revenue	459	475	458
Bydureon | Europe
Revenues
Revenue	66	81	88
Bydureon | World
Revenues
Revenue	13	20	19
Onglyza
Revenues
Revenue	527	543	611
Onglyza | Emerging Markets
Revenues
Revenue	176	172	130
Onglyza | US
Revenues
Revenue	230	223	320
Onglyza | Europe
Revenues
Revenue	70	89	104
Onglyza | World
Revenues
Revenue	51	59	57
Byetta
Revenues
Revenue	110	126	176
Byetta | Emerging Markets
Revenues
Revenue	12	8	12
Byetta | US
Revenues
Revenue	68	74	114
Byetta | Europe
Revenues
Revenue	19	29	34
Byetta | World
Revenues
Revenue	11	15	16
Other diabetes
Revenues
Revenue	52	39	53
Other diabetes | Emerging Markets
Revenues
Revenue	1	(1)	1
Other diabetes | US
Revenues
Revenue	40	34	52
Other diabetes | Europe
Revenues
Revenue	9	5
Other diabetes | World
Revenues
Revenue	2	1
Lokelma
Revenues
Revenue	14
Lokelma | US
Revenues
Revenue	13
Lokelma | Europe
Revenues
Revenue	1
Crestor
Revenues
Revenue	1,278	1,433	2,365
Crestor | Emerging Markets
Revenues
Revenue	806	841	784
Crestor | US
Revenues
Revenue	104	170	373
Crestor | Europe
Revenues
Revenue	148	203	666
Crestor | World
Revenues
Revenue	220	219	542
Seloken/Toprol-XL
Revenues
Revenue	760	712	695
Seloken/Toprol-XL | Emerging Markets
Revenues
Revenue	686	641	593
Seloken/Toprol-XL | US
Revenues
Revenue	37	39	37
Seloken/Toprol-XL | Europe
Revenues
Revenue	25	19	52
Seloken/Toprol-XL | World
Revenues
Revenue	12	13	13
Atacand
Revenues
Revenue	221	260	300
Atacand | Emerging Markets
Revenues
Revenue	160	157	178
Atacand | US
Revenues
Revenue	12	13	19
Atacand | Europe
Revenues
Revenue	30	70	86
Atacand | World
Revenues
Revenue	19	20	17
CVDM, Others
Revenues
Revenue	271	301	339
CVDM, Others | Emerging Markets
Revenues
Revenue	193	207	204
CVDM, Others | US
Revenues
Revenue	(1)	(1)
CVDM, Others | Europe
Revenues
Revenue	59	71	92
CVDM, Others | World
Revenues
Revenue	20	24	43
BioPharmaceuticals: Respiratory
Revenues
Revenue	5,391	4,911	4,706
BioPharmaceuticals: Respiratory | Emerging Markets
Revenues
Revenue	1,987	1,644	1,388
BioPharmaceuticals: Respiratory | US
Revenues
Revenue	1,653	1,416	1,509
BioPharmaceuticals: Respiratory | Europe
Revenues
Revenue	1,107	1,229	1,216
BioPharmaceuticals: Respiratory | World
Revenues
Revenue	644	622	593
Symbicort
Revenues
Revenue	2,495	2,561	2,803
Symbicort | Emerging Markets
Revenues
Revenue	547	495	439
Symbicort | US
Revenues
Revenue	829	862	1,099
Symbicort | Europe
Revenues
Revenue	678	773	819
Symbicort | World
Revenues
Revenue	441	431	446
Pulmicort
Revenues
Revenue	1,466	1,286	1,176
Pulmicort | Emerging Markets
Revenues
Revenue	1,190	995	840
Pulmicort | US
Revenues
Revenue	110	116	156
Pulmicort | Europe
Revenues
Revenue	81	90	92
Pulmicort | World
Revenues
Revenue	85	85	88
Fasenra
Revenues
Revenue	704	297	1
Fasenra | Emerging Markets
Revenues
Revenue	5	1
Fasenra | US
Revenues
Revenue	482	218	1
Fasenra | Europe
Revenues
Revenue	118	32
Fasenra | World
Revenues
Revenue	99	46
Daliresp/Daxas
Revenues
Revenue	215	189	198
Daliresp/Daxas | Emerging Markets
Revenues
Revenue	4	5	4
Daliresp/Daxas | US
Revenues
Revenue	184	155	167
Daliresp/Daxas | Europe
Revenues
Revenue	26	28	26
Daliresp/Daxas | World
Revenues
Revenue	1	1	1
Duaklir
Revenues
Revenue	77	95	79
Duaklir | Emerging Markets
Revenues
Revenue	1	1
Duaklir | US
Revenues
Revenue	3
Duaklir | Europe
Revenues
Revenue	71	91	77
Duaklir | World
Revenues
Revenue	2	3	2
Bevespi
Revenues
Revenue	42	33	16
Bevespi | US
Revenues
Revenue	42	33	16
Breztri
Revenues
Revenue	2
Breztri | World
Revenues
Revenue	2
Respiratory, Others
Revenues
Revenue	390	450	433
Respiratory, Others | Emerging Markets
Revenues
Revenue	240	147	105
Respiratory, Others | US
Revenues
Revenue	3	32	70
Respiratory, Others | Europe
Revenues
Revenue	133	215	202
Respiratory, Others | World
Revenues
Revenue	14	56	56
Other medicines
Revenues
Revenue	2,601	3,400	4,156
Other medicines | Emerging Markets
Revenues
Revenue	989	1,024	1,268
Other medicines | US
Revenues
Revenue	436	842	1,169
Other medicines | Europe
Revenues
Revenue	669	947	993
Other medicines | World
Revenues
Revenue	507	587	726
Nexium
Revenues
Revenue	1,483	1,702	1,952
Nexium | Emerging Markets
Revenues
Revenue	748	690	684
Nexium | US
Revenues
Revenue	218	306	499
Nexium | Europe
Revenues
Revenue	63	235	248
Nexium | World
Revenues
Revenue	454	471	521
Synagis
Revenues
Revenue	358	665	687
Synagis | Emerging Markets
Revenues
Revenue		1
Synagis | US
Revenues
Revenue	46	287	317
Synagis | Europe
Revenues
Revenue	312	377	370
Losec/Prilosec
Revenues
Revenue	263	272	271
Losec/Prilosec | Emerging Markets
Revenues
Revenue	179	161	140
Losec/Prilosec | US
Revenues
Revenue	10	7	11
Losec/Prilosec | Europe
Revenues
Revenue	49	70	77
Losec/Prilosec | World
Revenues
Revenue	25	34	43
Seroquel XR/IR
Revenues
Revenue	191	361	508
Seroquel XR/IR | Emerging Markets
Revenues
Revenue	50	118	151
Seroquel XR/IR | US
Revenues
Revenue	34	108	193
Seroquel XR/IR | Europe
Revenues
Revenue	88	107	127
Seroquel XR/IR | World
Revenues
Revenue	19	28	37
Other, Others
Revenues
Revenue	306	400	738
Other, Others | Emerging Markets
Revenues
Revenue	12	54	293
Other, Others | US
Revenues
Revenue	128	134	149
Other, Others | Europe
Revenues
Revenue	157	158	171
Other, Others | World
Revenues
Revenue	$ 9	$ 54	$ 125
Regulatory - Medicaid and state programmes | US
Revenues
Rebate, returns and chargebacks (as a percent)	1.30%	2.60%	1.70%
Contractual - Managed-care and Medicare | US
Revenues
Rebate, returns and chargebacks (as a percent)	1.90%	1.20%	3.50%

Revenue - Collaboration Revenue

Revenue - Collaboration Revenue (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenues
Collaboration Revenue	$ 819	$ 1,041	$ 2,313
Japan
Revenues
Collaboration Revenue	19	41	45
Lynparza and Selumetinb | MSD
Revenues
Collaboration Revenue	610	790	1,247
Crestor | Almirall
Revenues
Collaboration Revenue	39	61
Zoladex | TerSera
Revenues
Collaboration Revenue		35	250
Anaesthetics Medicines | Aspen
Revenues
Collaboration Revenue			150
Brodalumab | Valeant and Leo
Revenues
Collaboration Revenue			150
MEDI8897 | Sanofi
Revenues
Collaboration Revenue	34		127
Upfront Revenue
Revenues
Collaboration Revenue		10	114
Milestone Revenue
Revenues
Collaboration Revenue	5	4	87
Royal Revenue
Revenues
Collaboration Revenue	62	49	108
Other collaboration revenue
Revenues
Collaboration Revenue	$ 50	$ 51	$ 35

Operating profit - Other operat

Operating profit - Other operating income and expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating profit, other operating income and expense
Legal proceedings provision	$ 610	$ (219)	$ 241
Royalties income	146	96	132
Royalties amortisation	(4)	(4)	(45)
Gains on disposal of intangible assets	1,243	1,885	1,518
Gains on disposal of short-term investments			161
Net (losses)/gains on disposal of other non-current assets	(21)	(8)	24
Impairment of property, plant and equipment			(78)
Impairment of intangible assets	(3)
Legal settlements		374
Other income	285	277	286
Other expense	(108)	(93)	(168)
Other operating income and expense	1,541	2,527	1,830
Other payables	819	608	895
BMS's share of Global Diabetes Alliance
Operating profit, other operating income and expense
Changes in fair value of contingent consideration credit (charge)	(516)	(482)	208
Global Anaesthetics portfolio
Operating profit, other operating income and expense
Gains on disposal of intangible assets			555
Acerta Pharma
Operating profit, other operating income and expense
Changes in fair value of contingent consideration credit (charge)	172	(113)	(209)
Other payables	2,146	1,838	1,823
Synagis
Operating profit, other operating income and expense
Gains on disposal of intangible assets	515
Other payables	150
Losec
Operating profit, other operating income and expense
Gains on disposal of intangible assets	243
Arimidex and Casodex
Operating profit, other operating income and expense
Gains on disposal of intangible assets	181
Nexium
Operating profit, other operating income and expense
Gains on disposal of intangible assets		695
Atacand
Operating profit, other operating income and expense
Gains on disposal of intangible assets		210
Alvesco, Omnaris and Zetonna
Operating profit, other operating income and expense
Gains on disposal of intangible assets		139
Seroquel XR/IR
Operating profit, other operating income and expense
Gains on disposal of intangible assets	$ 213	527
Zomig
Operating profit, other operating income and expense
Gains on disposal of intangible assets			193
Most markets outside the US | Anaesthetics Medicines
Operating profit, other operating income and expense
Gains on disposal of intangible assets		172
Europe | Seloken/Toprol-XL
Operating profit, other operating income and expense
Gains on disposal of intangible assets			$ 301
Canada
Operating profit, other operating income and expense
Legal settlements		$ 352

Operating profit - Restructurin

Operating profit - Restructuring costs (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)site	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Restructuring programmes
Total charge	$ 347	$ 697	$ 807
Severance costs
Restructuring programmes
Total charge	137	41	176
Accelerated depreciation and impairment
Restructuring programmes
Total charge		259	141
Reversal of provisions for cost of restructuring	$ (67)
Number of manufacturing sites with impairment reversals | site	2
Other restructuring
Restructuring programmes
Total charge	$ 277	397	490
Cost of sales
Restructuring programmes
Total charge	73	432	181
Research and development expense
Restructuring programmes
Total charge	101	94	201
Selling, general and administrative costs
Restructuring programmes
Total charge	$ 173	181	347
Other operating income and expense
Restructuring programmes
Total charge			$ 78
Reversal of provisions for cost of restructuring		$ (10)

Operating profit - Financial in

Operating profit - Financial instruments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating profit
Losses on forward foreign exchange contracts	$ (112)	$ (100)	$ (6)
Gains/(losses) on receivables and payables	66	43	(30)
Gains on disposal of short-term investments			161
Gains on other available for sale investments			34
Total	$ (46)	$ (57)	$ 159

Finance income and expense - Ne

Finance income and expense - Net finance expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Finance income
Returns on fixed deposits and equity securities	$ 1	$ 10	$ 8
Returns on short-term deposits	122	86	62
Fair value gains on debt and interest rate swaps	7		4
Discount unwind on other long-term assets	20	6	10
Interest on tax receivables	22	36	29
Total	172	138	113
Finance expense
Interest on debt and commercial paper	(698)	(673)	(612)
Interest on overdrafts, lease liabilities and other financing costs	(74)	(68)	(52)
Net interest on post-employment defined benefit plan net liabilities (Note 22)	(53)	(52)	(49)
Net exchange losses	(30)	(51)	(148)
Discount unwind on contingent consideration arising from business combinations (Note 20)	(356)	(416)	(402)
Discount unwind on other long-term liabilities	(213)	(154)	(245)
Fair value losses on debt and interest rate swaps		(2)
Interest on tax payables	(8)	(3)
Total	(1,432)	(1,419)	(1,508)
Net finance expense	$ (1,260)	$ (1,281)	$ (1,395)

Finance income and expense - Fi

Finance income and expense - Financial instruments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Net gains and losses on financial instruments
Interest and fair value adjustments in respect of debt designated at fair value through profit or loss, net of derivatives	$ (12)	$ (11)	$ 8
Interest and changes in carrying values of debt designated as hedged items in fair value hedges, net of derivatives	(10)	(28)	(35)
Interest and fair value changes on fixed and short-term deposits, equity securities, other derivatives and tax balances	110	96	52
Interest on debt, overdrafts, lease liabilities and commercial paper held at amortised cost	(662)	(619)	(559)
Losses on change in fair value of derivatives		2
Fair value gains on debt and interest rate swaps	7		4
Interest rate fair value hedging instruments
Net gains and losses on financial instruments
Gain on change in fair value of related hedged items	8	10	9
Instruments in a fair value hedge relationship | Interest rate swaps
Net gains and losses on financial instruments
Losses on change in fair value of derivatives	5	13	9
Instruments in a fair value hedge relationship | Loans
Net gains and losses on financial instruments
Losses on change in fair value of derivatives		13	10
Fair value gains on debt and interest rate swaps	4
Instruments designated at fair value through profit and loss
Net gains and losses on financial instruments
Gain/(loss) on change in fair value of derivatives	$ (4)	$ 13	$ 3

Taxation - Comprehensive income

Taxation - Comprehensive income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current tax expense
Current year	$ 1,243	$ 711	$ 665
Adjustment to prior years	66	38	(287)
Total	1,309	749	378
Deferred tax expense
Origination and reversal of temporary differences	(875)	(644)	(1,113)
Adjustment to prior years	(113)	(162)	94
Total	(988)	(806)	(1,019)
Taxation recognised in the profit for the period	321	(57)	(641)
Items that will not be reclassified to profit or loss:
Remeasurement of the defined benefit liability	(81)	(37)	(24)
Share-based payments			(9)
Net (gains)/losses on equity investments measured at fair value through other comprehensive income	60	(30)
Deferred tax impact of reduction in US tax rate and other tax rates		11	17
Total	(21)	(56)	(16)
Items that may be reclassified subsequently to profit or loss:
Foreign exchange arising on consolidation	(34)	(69)	79
Foreign exchange arising on designating borrowings in net investment hedges	(4)		(14)
Net available for sale (gains)/losses recognised in other comprehensive income			(2)
Deferred tax (credit)/charge relating to change of tax rates		18	(30)
Total	(38)	(51)	33
Taxation related to components of other comprehensive income	$ (59)	$ (107)	$ 17

Taxation - Reconciliation (Deta

Taxation - Reconciliation (Details) - USD ($) $ in Millions	Jan. 01, 2021	Jan. 01, 2020	Jan. 01, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Taxation
Reported tax rate (as a percentage)				21.00%
Cash tax paid				$ 1,118
Cash tax paid as a percentage of profit before tax (as a percentage)				72.00%
Deferred tax for unremitted earnings of Group companies overseas				$ 0	$ 0	$ 0
Investment for which deferred tax liability not recognised				$ 4,902	$ 8,144	$ 8,359
Tax rate (as a percentage)				19.00%	19.00%	19.25%
Tax charge					$ 37	$ 1
Profit before tax				$ 1,548	1,993	2,227
Notional taxation charge at UK corporation tax rate of 19% (2018: 19%; 2017: 19.25%)				294	379	429
Differences in effective overseas tax rates				(49)	18	(212)
Deferred tax credit relating to reduction in other tax rates				(39)	334	616
Unrecognised deferred tax asset				(16)	7	(105)
Items not deductible for tax purposes				92	167	203
Items not chargeable for tax purposes				(13)	(6)	(14)
Other items				21	(164)	(133)
Adjustments in respect of prior periods				(47)	(124)	(193)
Taxation recognised in the profit for the period				321	(57)	$ (641)
Recognition of previously unrecognised net deferred tax assets				$ 27
US
Taxation
Tax rate (as a percentage)			21.00%			35.00%
Tax credit					297	$ 617
DUTCH AND SWEDEN
Taxation
Tax credit					27
DUTCH
Taxation
Tax rate (as a percentage)		25.00%		22.55%
Tax charge				$ 66
SWEDEN
Taxation
Tax rate (as a percentage)	20.50%
Forecast | SWEDEN
Taxation
Tax rate (as a percentage)	21.70%
Collaboration and Divestment Activity
Taxation
Other items				(309)
Agreements between tax authorities in respect of transfer pricing arrangements
Taxation
Tax credit					188
Expiry of relevant statute of limitations
Taxation
Tax charge related to transfer pricing arrangements					$ 24
Tax credit related to statute of limitations						178
Tax credit						218
Provision build for transfer pricing contingencies
Taxation
Tax charge						$ 45
Internal transfers of intellectual property
Taxation
Other items				$ 70

Taxation - Movements in deferre

Taxation - Movements in deferred tax balance (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Taxation
Balance at the beginning of the period	$ (907)	$ (1,806)	$ (2,854)
Net adjustment to the opening balance of retained earnings		(12)
Taxation expense	988	806	1,019
Other comprehensive income	83	113	40
Equity	12	12
Exchange	52	(44)	69
Balance at the end of the period	228	(907)	(1,806)
Movements in deferred tax assets	1,135
United Kingdom
Taxation
Net deferred tax asset	629
US
Taxation
Net deferred tax asset	136
Intangibles, property, plant & equipment
Taxation
Balance at the beginning of the period	(3,368)	(3,852)	(5,149)
Taxation expense	1,055	401	1,393
Other comprehensive income	34	56	84
Exchange	14	27	(12)
Balance at the end of the period	(2,265)	(3,368)	(3,852)
Pension and post-retirement benefits
Taxation
Balance at the beginning of the period	495	509	465
Taxation expense	(9)	(15)	(8)
Other comprehensive income	79	26	(9)
Exchange	(4)	(25)	43
Balance at the end of the period	561	495	509
Elimination of unrealised profit on inventory
Taxation
Balance at the beginning of the period	980	831	1,014
Taxation expense	312	179	(231)
Exchange	1	(30)	48
Balance at the end of the period	1,293	980	831
Untaxed reserves
Taxation
Balance at the beginning of the period	(557)	(600)	(697)
Taxation expense	(63)	(4)	159
Exchange	22	47	(62)
Balance at the end of the period	(598)	(557)	(600)
Losses and tax credits carried forward
Taxation
Balance at the beginning of the period	1,008	906	1,004
Taxation expense	(480)	129	(128)
Exchange	18	(27)	30
Balance at the end of the period	546	1,008	906
Accrued expenses and other
Taxation
Balance at the beginning of the period	535	400	509
Net adjustment to the opening balance of retained earnings		(12)
Taxation expense	173	116	(166)
Other comprehensive income	(30)	31	(35)
Equity	12	12
Exchange	1	(36)	22
Balance at the end of the period	$ 691	$ 535	$ 400

Taxation - Net deferred tax bal

Taxation - Net deferred tax balance (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Taxation
Net deferred tax balance	$ 228	$ (907)	$ (1,806)	$ (2,854)
Deductible temporary differences for which no deferred tax asset is recognised	441	444	420
Before the offset of balances within countries
Taxation
Deferred tax assets	4,792	4,895	4,638
Deferred tax liabilities	(4,564)	(5,802)	(6,444)
Net deferred tax balance	228	(907)	(1,806)
After the offset of balances within countries
Taxation
Deferred tax assets	2,718	2,379	2,189
Deferred tax liabilities	(2,490)	(3,286)	(3,995)
Net deferred tax balance	228	(907)	(1,806)
Intangibles, property, plant & equipment
Taxation
Net deferred tax balance	(2,265)	(3,368)	(3,852)	(5,149)
Intangibles, property, plant & equipment | Before the offset of balances within countries
Taxation
Deferred tax assets	1,091	1,071	1,226
Deferred tax liabilities	(3,356)	(4,439)	(5,078)
Net deferred tax balance	(2,265)	(3,368)	(3,852)
Pension and post-retirement benefits
Taxation
Net deferred tax balance	561	495	509	465
Pension and post-retirement benefits | Before the offset of balances within countries
Taxation
Deferred tax assets	591	521	559
Deferred tax liabilities	(30)	(26)	(50)
Net deferred tax balance	561	495	509
Elimination of unrealised profit on inventory
Taxation
Net deferred tax balance	1,293	980	831	1,014
Elimination of unrealised profit on inventory | Before the offset of balances within countries
Taxation
Deferred tax assets	1,543	1,287	1,011
Deferred tax liabilities	(250)	(307)	(180)
Net deferred tax balance	1,293	980	831
Untaxed reserves
Taxation
Net deferred tax balance	(598)	(557)	(600)	(697)
Untaxed reserves | Before the offset of balances within countries
Taxation
Deferred tax liabilities	(598)	(557)	(600)
Net deferred tax balance	(598)	(557)	(600)
Losses and tax credits carried forward
Taxation
Net deferred tax balance	546	1,008	906	1,004
Losses and tax credits carried forward | Before the offset of balances within countries
Taxation
Deferred tax assets	608	1,103	957
Deferred tax liabilities	(62)	(95)	(51)
Net deferred tax balance	546	1,008	906
Accrued expenses and other
Taxation
Net deferred tax balance	691	535	400	$ 509
Accrued expenses and other | Before the offset of balances within countries
Taxation
Deferred tax assets	959	913	885
Deferred tax liabilities	(268)	(378)	(485)
Net deferred tax balance	$ 691	$ 535	$ 400

Taxation - Unrecognised deferre

Taxation - Unrecognised deferred tax assets (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Taxation
Unrecognised DTA	$ 441	$ 444	$ 420
Trading and capital losses expiring. | Within 10 years
Taxation
Temporary differences	33	4	105
Unrecognised DTA	9	1	25
Trading and capital losses expiring. | More than 10 years
Taxation
Temporary differences	1	4	4
Unrecognised DTA		1	1
Trading and capital losses expiring. | Indefinite
Taxation
Temporary differences	218	175	88
Unrecognised DTA	62	51	24
Tax credits and State tax losses expiring | Within 10 years
Taxation
Unrecognised DTA	44	40	32
Tax credits and State tax losses expiring | More than 10 years
Taxation
Unrecognised DTA	259	281	273
Tax credits and State tax losses expiring | Indefinite
Taxation
Unrecognised DTA	67	70	65
Capital losses expiring
Taxation
Unrecognised DTA	370	391	370
Capital losses expiring | Indefinite
Taxation
Temporary differences	252	183	197
Unrecognised DTA	$ 71	$ 53	$ 50

Earnings per $0.25 Ordinary S_3

Earnings per $0.25 Ordinary Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Earnings per $0.25 Ordinary Share
Profit for the year attributable to equity holders ($m)	$ 1,335	$ 2,155	$ 3,001
Basic earnings per Ordinary Share (in dollars per share)	$ 1.03	$ 1.70	$ 2.37
Diluted earnings per Ordinary Share (in dollars per share)	$ 1.03	$ 1.70	$ 2.37
Weighted average number of Ordinary Shares in issue for basic earnings (millions)	1,301	1,267	1,266
Dilutive impact of share options outstanding (millions)			1
Diluted weighted average number of Ordinary Shares in issue (millions)	1,301	1,267	1,267

Segment information - geographi

Segment information - geographical areas (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)segment	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Disclosure of geographical location
Number of reportable segments | segment	1
Total Revenue	$ 24,384	$ 22,090	$ 22,465
UK | Operating segments
Disclosure of geographical location
Total Revenue	1,822	2,390	3,240
External
Disclosure of geographical location
Total Revenue	22,562	19,700	19,225
Europe | Operating segments
Disclosure of geographical location
Total Revenue	4,162	3,820	4,557
France | Operating segments
Disclosure of geographical location
Total Revenue	578	617	701
Germany | Operating segments
Disclosure of geographical location
Total Revenue	704	592	541
Italy | Operating segments
Disclosure of geographical location
Total Revenue	396	426	514
Spain | Operating segments
Disclosure of geographical location
Total Revenue	359	396	447
Sweden | Operating segments
Disclosure of geographical location
Total Revenue	834	477	842
Others | Operating segments
Disclosure of geographical location
Total Revenue	1,291	1,312	1,512
The Americas | Operating segments
Disclosure of geographical location
Total Revenue	9,327	8,529	7,957
Canada | Operating segments
Disclosure of geographical location
Total Revenue	466	483	482
US | Operating segments
Disclosure of geographical location
Total Revenue	8,047	7,240	6,666
Others | Operating segments
Disclosure of geographical location
Total Revenue	814	806	809
Asia, Africa And Australasia | Operating segments
Disclosure of geographical location
Total Revenue	9,073	7,351	6,711
Australia | Operating segments
Disclosure of geographical location
Total Revenue	266	313	377
China | Operating segments
Disclosure of geographical location
Total Revenue	4,867	3,778	2,955
Japan | Operating segments
Disclosure of geographical location
Total Revenue	2,522	1,952	2,172
Others | Operating segments
Disclosure of geographical location
Total Revenue	$ 1,418	$ 1,308	$ 1,207

Segment information - Intra-Gro

Segment information - Intra-Group pricing (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of geographical location
Operating profit/(loss)	$ 2,924	$ 3,387	$ 3,677
(Loss)/profit before tax	1,548	1,993	2,227
Non-current assets	42,746	42,524	47,511
Total assets	61,377	60,651	63,354
Assets acquired	2,997	1,547	1,752
Net operating assets	30,768	32,019	35,116
UK
Disclosure of geographical location
Operating profit/(loss)	466	(66)	(694)
(Loss)/profit before tax	93	(514)	(1,146)
Non-current assets	6,778	4,828	5,371
Total assets	15,302	13,573	12,842
Assets acquired	2,255	556	400
Net operating assets	4,206	3,471	3,351
Europe
Disclosure of geographical location
Operating profit/(loss)	1,502	3,671	2,482
(Loss)/profit before tax	1,006	3,179	1,918
Non-current assets	15,220	14,529	16,305
Total assets	18,182	17,119	18,962
Assets acquired	386	530	629
Net operating assets	9,201	8,913	10,228
The Americas
Disclosure of geographical location
Operating profit/(loss)	(8)	(757)	1,242
(Loss)/profit before tax	(474)	(1,171)	822
Non-current assets	19,513	22,191	24,811
Total assets	23,380	26,381	28,180
Assets acquired	236	356	585
Net operating assets	15,929	18,598	20,339
Asia, Africa And Australasia
Disclosure of geographical location
Operating profit/(loss)	964	539	647
(Loss)/profit before tax	923	499	633
Non-current assets	1,235	976	1,024
Total assets	4,513	3,578	3,370
Assets acquired	120	105	138
Net operating assets	$ 1,432	$ 1,037	$ 1,198

Segment information - Property,

Segment information - Property, plant and equipment (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of geographical location
Property, plant and equipment.	$ 7,688	$ 7,421	$ 7,615
UK
Disclosure of geographical location
Property, plant and equipment.	1,920	1,605	1,455
Sweden
Disclosure of geographical location
Property, plant and equipment.	1,488	1,456	1,508
US
Disclosure of geographical location
Property, plant and equipment.	2,758	2,844	3,055
Rest of the world
Disclosure of geographical location
Property, plant and equipment.	$ 1,522	$ 1,516	$ 1,597

Segment information - Product S

Segment information - Product Sales (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)customer	Dec. 31, 2018USD ($)customer	Dec. 31, 2017USD ($)customer
Disclosure of geographical location
Product Sales	$ 23,565	$ 21,049	$ 20,152
Number of transactions with wholesaler | customer	1	1	0
Customer one
Disclosure of geographical location
Product Sales	$ 3,078	$ 2,704
UK
Disclosure of geographical location
Product Sales	458	469	$ 489
Europe
Disclosure of geographical location
Product Sales	3,891	4,388	4,712
The Americas
Disclosure of geographical location
Product Sales	9,032	8,177	7,467
Asia, Africa And Australasia
Disclosure of geographical location
Product Sales	$ 10,184	$ 8,015	$ 7,484

Property, plant and equipment_2

Property, plant and equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Property, plant and equipment
Balance at the beginning period	$ 7,421	$ 7,615
Impairment			$ 78
Balance at the end period	7,688	7,421	7,615
Land and buildings
Property, plant and equipment
Balance at the beginning period	2,862	2,792
Balance at the end period	3,027	2,862	2,792
Transfers between classes	(70)
Freeholds
Property, plant and equipment
Balance at the beginning period	2,567	2,514
Balance at the end period	2,657	2,567	2,514
Leaseholds
Property, plant and equipment
Balance at the beginning period	295	278
Balance at the end period	370	295	278
Plant and equipment
Property, plant and equipment
Balance at the beginning period	2,382	2,390
Impairment	26
Balance at the end period	2,575	2,382	2,390
Plant and equipment | Longmont
Property, plant and equipment
Reversal of impairment	23
Plant and equipment | Boulder
Property, plant and equipment
Reversal of impairment	70
Assets in course of construction
Property, plant and equipment
Balance at the beginning period	2,177	2,433
Balance at the end period	2,086	2,177	2,433
Assets held for sale
Property, plant and equipment
Transfers between classes	70
Cost
Property, plant and equipment
Balance at the beginning period	14,639	14,639	13,451
Capital expenditure	996	1,034	1,311
Disposals and other movements	(571)	(391)	(944)
Exchange adjustments	(63)	(643)	821
Balance at the end period	15,001	14,639	14,639
Cost | Land and buildings
Property, plant and equipment
Balance at the beginning period	5,366	5,023	4,616
Capital expenditure	8	25	39
Transfer of assets into use	403	429	525
Disposals and other movements	(236)	50	(367)
Exchange adjustments	(9)	(161)	210
Balance at the end period	5,532	5,366	5,023
Cost | Plant and equipment
Property, plant and equipment
Balance at the beginning period	7,096	7,183	6,543
Capital expenditure	48	99	198
Transfer of assets into use	620	594	567
Disposals and other movements	(324)	(427)	(577)
Exchange adjustments	(57)	(353)	452
Balance at the end period	7,383	7,096	7,183
Cost | Assets in course of construction
Property, plant and equipment
Balance at the beginning period	2,177	2,433	2,292
Capital expenditure	940	910	1,074
Transfer of assets into use	(1,023)	(1,023)	(1,092)
Disposals and other movements	(11)	(14)
Exchange adjustments	3	(129)	159
Balance at the end period	2,086	2,177	2,433
Depreciation
Property, plant and equipment
Balance at the beginning period	(7,218)	(7,024)	(6,603)
Charge for year	647	614	624
Impairment	(53)	291	78
Disposals and other movements	(433)	(369)	(750)
Exchange adjustments	66	342	(469)
Balance at the end period	(7,313)	(7,218)	(7,024)
Depreciation | Land and buildings
Property, plant and equipment
Balance at the beginning period	(2,504)	(2,231)	(2,092)
Charge for year	209	202	182
Impairment	(67)	150	78
Disposals and other movements	(120)	10	(249)
Exchange adjustments	21	89	(128)
Balance at the end period	(2,505)	(2,504)	(2,231)
Depreciation | Plant and equipment
Property, plant and equipment
Balance at the beginning period	(4,714)	(4,793)	(4,511)
Charge for year	438	412	442
Impairment	14	98
Disposals and other movements	(313)	(336)	(501)
Exchange adjustments	45	253	(341)
Balance at the end period	$ (4,808)	(4,714)	$ (4,793)
Depreciation | Assets in course of construction
Property, plant and equipment
Impairment		43
Disposals and other movements		$ (43)

Leases - Right-of-use assets (D

Leases - Right-of-use assets (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)
Right-of-use assets
At 31 December 2019	$ 647
Cost
Right-of-use assets
At 1 January 2019	722
Additions	173
Disposals and other movements	(50)
Exchange adjustments	6
At 31 December 2019	851
Depreciation
Right-of-use assets
Charge for year	207
Impairment	4
Disposals and other movements	8
Exchange adjustments	(1)
At 31 December 2019	(204)
Land and buildings
Right-of-use assets
At 31 December 2019	495
Land and buildings | Cost
Right-of-use assets
At 1 January 2019	580
Additions	85
Disposals and other movements	(44)
Exchange adjustments	6
At 31 December 2019	627
Land and buildings | Depreciation
Right-of-use assets
Charge for year	130
Impairment	4
Disposals and other movements	3
Exchange adjustments	(1)
At 31 December 2019	(132)
Motor vehicles
Right-of-use assets
At 31 December 2019	138
Motor vehicles | Cost
Right-of-use assets
At 1 January 2019	124
Additions	85
Disposals and other movements	(7)
At 31 December 2019	202
Motor vehicles | Depreciation
Right-of-use assets
Charge for year	70
Disposals and other movements	6
At 31 December 2019	(64)
Other assets
Right-of-use assets
At 31 December 2019	14
Other assets | Cost
Right-of-use assets
At 1 January 2019	18
Additions	3
Disposals and other movements	1
At 31 December 2019	22
Other assets | Depreciation
Right-of-use assets
Charge for year	7
Disposals and other movements	(1)
At 31 December 2019	$ (8)

Leases - Lease Liability (Detai

Leases - Lease Liability (Details) $ in Millions	Dec. 31, 2019USD ($)
Present value of lease liabilities
Lease liabilities	$ 675
Due within one year
Present value of lease liabilities
Lease liabilities	188
Later than one year and not later than five years
Present value of lease liabilities
Lease liabilities	368
Later than five years
Present value of lease liabilities
Lease liabilities	$ 119

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)
Leases
Interest expense on lease liabilities	$ 22
Expense related to short-term leases	1
Expense related to leases of low-value assets	1
Expense related to variable lease payments	0
Income from subleasing	4
Cash outflow for leases	$ 208

Leases - Prior to IFRS 16 (Deta

Leases - Prior to IFRS 16 (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Leases
Operating leases	$ 188	$ 175

Leases - Prior to IFRS 16, futu

Leases - Prior to IFRS 16, future minimum payments (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Finance Lease And Operating Lease By Lessee IAS17 Line Items
Future minimum lease payments	$ 684	$ 614
Due within one year
Disclosure Of Finance Lease And Operating Lease By Lessee IAS17 Line Items
Future minimum lease payments	188	151
Later than one year and not later than five years
Disclosure Of Finance Lease And Operating Lease By Lessee IAS17 Line Items
Future minimum lease payments	360	345
Later than five years
Disclosure Of Finance Lease And Operating Lease By Lessee IAS17 Line Items
Future minimum lease payments	$ 136	$ 118

Leases - IFRS 16 (Details)

Leases - IFRS 16 (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Application of new accounting standards
Operating leases	$ 188	$ 175
Future minimum lease payments	$ 684	614
IFRS 16
Application of new accounting standards
Operating leases		175
Future minimum lease payments		614
IFRS 16 | Previously stated
Application of new accounting standards
Operating leases		137
Future minimum lease payments		$ 523

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of reconciliation of changes in goodwill
Beginning balance	$ (11,707)	$ (11,825)
Ending balance	(11,668)	(11,707)	$ (11,825)
Goodwill impairment	0
Cost
Disclosure of reconciliation of changes in goodwill
Beginning balance	(12,022)	(12,143)	(11,969)
Exchange and other adjustments	40	121	(174)
Ending balance	(11,982)	(12,022)	(12,143)
Depreciation
Disclosure of reconciliation of changes in goodwill
Beginning balance	315	318	311
Exchange and other adjustments	(1)	(3)	7
Ending balance	$ 314	$ 315	$ 318

Intangible assets - Reconciliat

Intangible assets - Reconciliation of changes in intangible assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of reconciliation of changes in intangible assets
Beginning balance	$ 21,959	$ 26,188
Amortisation for year	1,928	2,165	$ 1,829
Impairment	1,033	683	491
Ending balance	20,833	21,959	26,188
Cost
Disclosure of reconciliation of changes in intangible assets
Beginning balance	43,501	47,460	46,011
Additions - separately acquired	2,001	513	441
Transferred to assets held for sales (Note 18)		(2,486)
Disposals	(186)	(646)	(378)
Exchange and other adjustments	(232)	(1,340)	1,386
Ending balance	45,084	43,501	47,460
Amortisation and impairment losses
Disclosure of reconciliation of changes in intangible assets
Beginning balance	(21,542)	(21,272)	(18,425)
Transferred to assets held for sales (Note 18)		1,504
Amortisation for year	1,928	2,165	1,829
Impairment	1,033	683	491
Disposals	176	307	71
Exchange and other adjustments	(76)	(767)	598
Ending balance	(24,251)	(21,542)	(21,272)
Product, marketing and distribution rights
Disclosure of reconciliation of changes in intangible assets
Beginning balance	21,229	25,255
Amortisation for year	1,808	2,016	1,627
Impairment	1,031	683	488
Ending balance	20,049	21,229	25,255
Product, marketing and distribution rights | Cost
Disclosure of reconciliation of changes in intangible assets
Beginning balance	39,136	42,913	41,603
Additions - separately acquired	1,835	476	397
Transferred to assets held for sales (Note 18)		(2,486)
Disposals	(35)	(630)	(249)
Exchange and other adjustments	(282)	(1,137)	1,162
Ending balance	40,654	39,136	42,913
Product, marketing and distribution rights | Amortisation and impairment losses
Disclosure of reconciliation of changes in intangible assets
Beginning balance	(17,907)	(17,658)	(15,095)
Transferred to assets held for sales (Note 18)		1,504
Amortisation for year	1,808	2,016	1,627
Impairment	1,031	683	488
Disposals	29	294	19
Exchange and other adjustments	(112)	(652)	467
Ending balance	(20,605)	(17,907)	(17,658)
Other intangibles
Disclosure of reconciliation of changes in intangible assets
Beginning balance	491	632
Amortisation for year	52	69	118
Ending balance	552	491	632
Other intangibles | Cost
Disclosure of reconciliation of changes in intangible assets
Beginning balance	2,526	2,636	2,580
Additions - separately acquired	99		7
Disposals			(67)
Exchange and other adjustments	24	(110)	116
Ending balance	2,649	2,526	2,636
Other intangibles | Amortisation and impairment losses
Disclosure of reconciliation of changes in intangible assets
Beginning balance	(2,035)	(2,004)	(1,836)
Amortisation for year	52	69	118
Exchange and other adjustments	10	(38)	50
Ending balance	(2,097)	(2,035)	(2,004)
Software development costs
Disclosure of reconciliation of changes in intangible assets
Beginning balance	239	301
Amortisation for year	68	80	84
Impairment	2		3
Ending balance	232	239	301
Software development costs | Cost
Disclosure of reconciliation of changes in intangible assets
Beginning balance	1,839	1,911	1,828
Additions - separately acquired	67	37	37
Disposals	(151)	(16)	(62)
Exchange and other adjustments	26	(93)	108
Ending balance	1,781	1,839	1,911
Software development costs | Amortisation and impairment losses
Disclosure of reconciliation of changes in intangible assets
Beginning balance	(1,600)	(1,610)	(1,494)
Amortisation for year	68	80	84
Impairment	2		3
Disposals	147	13	52
Exchange and other adjustments	26	(77)	81
Ending balance	$ (1,549)	$ (1,600)	$ (1,610)

Intangible assets - Summary of

Intangible assets - Summary of amortisation charges (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of reconciliation of changes in intangible assets
Cost of sales	$ 87	$ 187	$ 149
Research and development expense	29	33	43
Selling, general and administrative costs	1,808	1,941	1,592
Other operating income and expense	4	4	45
Total	1,928	2,165	1,829
Product, marketing and distribution rights
Disclosure of reconciliation of changes in intangible assets
Cost of sales	87	187	149
Selling, general and administrative costs	1,721	1,829	1,478
Total	1,808	2,016	1,627
Other intangibles
Disclosure of reconciliation of changes in intangible assets
Research and development expense	29	33	43
Selling, general and administrative costs	19	32	30
Other operating income and expense	4	4	45
Total	52	69	118
Software development costs
Disclosure of reconciliation of changes in intangible assets
Selling, general and administrative costs	68	80	84
Total	$ 68	$ 80	$ 84

Intangible assets - Summary o_2

Intangible assets - Summary of impairment charges (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of reconciliation of changes in intangible assets
Research and development expense	$ 609	$ 539	$ 101
Selling, general and administrative costs	427	144	390
Impairment of intangible assets	(3)
Total	1,033	683	491
Product, marketing and distribution rights
Disclosure of reconciliation of changes in intangible assets
Research and development expense	609	539	101
Selling, general and administrative costs	425	144	387
Impairment of intangible assets	(3)
Total	1,031	$ 683	488
Software development costs
Disclosure of reconciliation of changes in intangible assets
Selling, general and administrative costs	2		3
Total	$ 2		$ 3

Intangible assets - Termination

Intangible assets - Termination of R&D activities (Details)	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Disclosure of reconciliation of changes in intangible assets
Post-tax weighted average cost of capital	7.00%	7.00%	7.00%
Impairment	$ 1,033,000,000	$ 683,000,000	$ 491,000,000
Carrying value	20,833,000,000	21,959,000,000	26,188,000,000
Increase in impairment charge due to changes in assumptions of valuation model		$ 70,000,000
Group's valuation model		5
useful life reduced by one year
Disclosure of reconciliation of changes in intangible assets
Increase (decrease) in net book value	(303,000,000)
useful life extended by one year
Disclosure of reconciliation of changes in intangible assets
Increase (decrease) in net book value	201,000,000
Launched products
Disclosure of reconciliation of changes in intangible assets
Impairment	425,000,000	$ 144,000,000
Launched products | Bydureon
Disclosure of reconciliation of changes in intangible assets
Impairment	154,000,000
Carrying value	$ 747,000,000
Launched products | Bydureon | Projected revenue fall by 10%
Disclosure of reconciliation of changes in intangible assets
Group's valuation model	10
Impairment charge	$ 102,000,000
Launched products | Qtern
Disclosure of reconciliation of changes in intangible assets
Impairment	89,000,000
Carrying value	233,000,000
Launched products | Eklira/Tudorza
Disclosure of reconciliation of changes in intangible assets
Impairment	84,000,000	114,000,000
Carrying value	192,000,000	396,000,000
Launched products | Movantik
Disclosure of reconciliation of changes in intangible assets
Impairment		30,000,000	174,000,000
Carrying value		59,000,000	106,000,000
Launched products | Byetta
Disclosure of reconciliation of changes in intangible assets
Impairment			92,000,000
Carrying value			407,000,000
Launched products | FluMist
Disclosure of reconciliation of changes in intangible assets
Impairment	52,000,000		121,000,000
Carrying value	172,000,000		267,000,000
Launched products | Other medicines
Disclosure of reconciliation of changes in intangible assets
Impairment	46,000,000
Products in development | MEDI0680
Disclosure of reconciliation of changes in intangible assets
Impairment		470,000,000
Products in development | Epanova
Disclosure of reconciliation of changes in intangible assets
Impairment	533,000,000
Products in development | Tralokinumab
Disclosure of reconciliation of changes in intangible assets
Impairment			53,000,000
Products in development | Ardea
Disclosure of reconciliation of changes in intangible assets
Carrying value		1,172,000,000
Products in development | Other intangibles
Disclosure of reconciliation of changes in intangible assets
Impairment	76,000,000	95,000,000	51,000,000
Other intangibles
Disclosure of reconciliation of changes in intangible assets
Carrying value	$ 552,000,000	$ 491,000,000	$ 632,000,000

Intangible assets - Significant

Intangible assets - Significant intangible assets (Details) - Product, marketing and distribution rights $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)
Acerta Pharma
Disclosure of intangible assets materials
Intangible assets material to entity	$ 6,263
Remaining amortisation period of intangible assets material to entity	13 years
ZS Pharma
Disclosure of intangible assets materials
Intangible assets material to entity	$ 2,794
Remaining amortisation period of intangible assets material to entity	13 years
Almirall and Actavis
Disclosure of intangible assets materials
Intangible assets material to entity	$ 706
Pearl Therapeutics
Disclosure of intangible assets materials
Intangible assets material to entity	$ 748
Pearl Therapeutics | Minimum
Disclosure of intangible assets materials
Remaining amortisation period of intangible assets material to entity	9 years
Pearl Therapeutics | Maximum
Disclosure of intangible assets materials
Remaining amortisation period of intangible assets material to entity	11 years
Daiichi Sankyo
Disclosure of intangible assets materials
Intangible assets material to entity	$ 1,709
RSV franchise | MedImmune
Disclosure of intangible assets materials
Intangible assets material to entity	$ 917
Remaining amortisation period of intangible assets material to entity	6 years
Farxiga/Forxiga | BMS
Disclosure of intangible assets materials
Intangible assets material to entity	$ 980
Remaining amortisation period of intangible assets material to entity	7 years
Bydureon | BMS
Disclosure of intangible assets materials
Intangible assets material to entity	$ 747
Remaining amortisation period of intangible assets material to entity	11 years
Onglyza | BMS
Disclosure of intangible assets materials
Intangible assets material to entity	$ 566
Remaining amortisation period of intangible assets material to entity	4 years
Respiratory | Almirall and Actavis | Minimum
Disclosure of intangible assets materials
Remaining amortisation period of intangible assets material to entity	7 years
Respiratory | Almirall and Actavis | Maximum
Disclosure of intangible assets materials
Remaining amortisation period of intangible assets material to entity	19 years
Other diabetes | BMS
Disclosure of intangible assets materials
Intangible assets material to entity	$ 507
Other diabetes | BMS | Minimum
Disclosure of intangible assets materials
Remaining amortisation period of intangible assets material to entity	3 years
Other diabetes | BMS | Maximum
Disclosure of intangible assets materials
Remaining amortisation period of intangible assets material to entity	6 years
Roxadustat | FibroGen
Disclosure of intangible assets materials
Intangible assets material to entity	$ 340
Merck
Disclosure of intangible assets materials
Intangible assets material to entity	$ 928
Merck | Minimum
Disclosure of intangible assets materials
Remaining amortisation period of intangible assets material to entity	2 years
Merck | Maximum
Disclosure of intangible assets materials
Remaining amortisation period of intangible assets material to entity	11 years
Merck | Ardea biosciences
Disclosure of intangible assets materials
Intangible assets material to entity	$ 1,172

Investments in associates and_3

Investments in associates and joint ventures - Rollforward (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Investments in associates and joint ventures
At 1 January	$ 89	$ 103	$ 99
Additions	74	187	76
Share of after-tax losses of associates and joint ventures	116	113	55
Unrecognised Profit on Transactions with Joint Ventures		64	27
Exchange and other adjustments	11	(24)	10
At 31 December	$ 58	$ 89	$ 103

Investments in associates and_4

Investments in associates and joint ventures - Narration (Details) $ in Millions	Oct. 08, 2019director	Oct. 07, 2019USD ($)	Feb. 23, 2018USD ($)	Nov. 27, 2017USD ($)item	Dec. 01, 2015USD ($)	Apr. 30, 2014USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Less than 100% Subsidiaries and Joint Ventures
Proportion of voting rights held in associate	29.00%
Total liabilities							$ 46,781	$ 46,607	$ 46,712
Net liabilities							14,596	14,044	16,642
Net liabilities attributable to AstraZeneca							13,127	12,468	14,960
Viela Bio
Less than 100% Subsidiaries and Joint Ventures
Contribution paid into an associate		$ 8
Number of board members representing AstraZeneca | director	2
Number of board members | director	8
Archigen Biotech Limited
Less than 100% Subsidiaries and Joint Ventures
Investments in associate							0
Net liabilities attributable to AstraZeneca							2
Viela Bio
Less than 100% Subsidiaries and Joint Ventures
Voting interest as a percentage			45.00%
Research and development services							13	9
Services provided through third party							24	20
Outstanding unsecured receivable							6	6
Credit loss provision							0
Contribution to joint venture			$ 142
Consideration			142
Gain on sale			$ 63
China, Dizhe (Jiangsu) Pharmaceutical Co. Limited
Less than 100% Subsidiaries and Joint Ventures
Contribution to joint venture				$ 55			25
Ownership interest in joint venture as a percentage				48.00%
Number of potential medicines in pre-clinical development | item				3
Chinese Future Industry Investment Fund
Less than 100% Subsidiaries and Joint Ventures
Gain on sale				$ 28
Centus Biotherapeutics Limited
Less than 100% Subsidiaries and Joint Ventures
Contribution to joint venture					$ 45		$ 20	27	$ 20	$ 10
Ownership interest in joint venture as a percentage					50.00%		50.00%
Archigen Biotech Limited
Less than 100% Subsidiaries and Joint Ventures
Contribution to joint venture						$ 70	$ 16	$ 15		$ 30
Ownership interest in joint venture as a percentage						50.00%	50.00%
Archigen Biotech Limited
Less than 100% Subsidiaries and Joint Ventures
Net liabilities							$ (5)

Investments in associates and_5

Investments in associates and joint ventures - Financial information (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of associate and joint ventures
Non-current assets	$ 45,814	$ 45,060	$ 50,204
Current assets	15,563	15,591	13,150
Current liabilities	(18,117)	(16,292)	(16,383)
Net assets	14,596	14,044	16,642
Amount attributable to AstraZeneca	(13,127)	(12,468)	(14,960)
Total investments in subsidiaries, joint ventures and associates	58	89	103	$ 99
Associate and joint ventures
Disclosure of associate and joint ventures
Non-current assets	298	260	207
Current assets	447	233	158
Current liabilities	(89)	(71)	(41)
Net assets	656	422	324
Amount attributable to AstraZeneca	64	104	117
Exchange adjustments	(6)	(15)	(14)
Total investments in subsidiaries, joint ventures and associates	$ 58	$ 89	$ 103

Other investments (Details)

Other investments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2019	Dec. 31, 2018
Other investments
Equity securities at fair value through other comprehensive income		$ 1,339	$ 833
Equity securities available for sale	$ 933
Other investments - non-current	933	1,401	833
Fixed deposits	80	38	40
Other investments - current	1,230	849	849
Equity securities
Other investments
Equity securities at fair value through other comprehensive income		1,339	833
Equity securities available for sale	933
Equity securities | Available-for-sale | Other operating income and expense
Other investments
Impairment charges	14
Fixed income securities
Other investments
Fixed income securities at fair value through profit and loss		62
Fixed income securities at fair value through profit and loss		$ 811	$ 809
Fixed income securities available for sale	$ 1,150

Other investments - Fair value

Other investments - Fair value hierarchy (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Other investments
FVPL	$ 873	$ 809
FVOCI	1,339	833
AFS			$ 2,083
Level 1
Other investments
FVPL	873	809
FVOCI	1,112	667
AFS			1,408
Level 3
Other investments
FVOCI	$ 227	$ 166
AFS			$ 675

Other investments - Level 3 inv

Other investments - Level 3 investments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Other investments
Assets at beginning of period	$ 60,651	$ 63,354
Assets at end of period	61,377	60,651	$ 63,354
Other investments
Other investments
Assets at beginning of period	166	675	641
Additions	5	79	53
Revaluations	56	(147)	(1)
Transfers into	2
Transfers out		(434)	(12)
Disposals	(5)	(6)	(15)
Impairments and exchange adjustments	3	(1)	9
Assets at end of period	$ 227	$ 166	$ 675

Derivative financial instrume_3

Derivative financial instruments - Assets and liabilities (Details) € in Millions, $ in Millions	Dec. 31, 2019EUR (€)	Dec. 31, 2019USD ($)	Dec. 31, 2018EUR (€)	Dec. 31, 2018USD ($)	Dec. 31, 2017EUR (€)	Dec. 31, 2017USD ($)
Disclosure of detailed information about hedges
Non-current assets		$ 61		$ 157		$ 504
Current assets		36		258		28
Current liabilities		(36)		(27)		(24)
Non-current liabilities		(18)		(4)		(4)
Total		43		384		504
Borrowings		18,227		19,113		17,807
Fair value		$ 20,549		$ 19,588		$ 19,280
1.95% Callable bond
Disclosure of detailed information about hedges
Interest rate on borrowings	1.95%	1.95%			1.95%	1.95%
0.25% Callable bond
Disclosure of detailed information about hedges
Interest rate on borrowings	0.25%	0.25%	0.25%	0.25%	0.25%	0.25%
0.75% Callable bond
Disclosure of detailed information about hedges
Interest rate on borrowings	0.75%	0.75%	0.75%	0.75%	0.75%	0.75%
1.25% Callable bond
Disclosure of detailed information about hedges
Interest rate on borrowings	1.25%	1.25%	1.25%	1.25%	1.25%	1.25%
0.875% Non-callable bond
Disclosure of detailed information about hedges
Borrowings | €	€ 750		€ 750		€ 750
Interest rate on borrowings	0.875%	0.875%	0.875%	0.875%	0.875%	0.875%
Interest rate swaps | Instruments designated at fair value through profit and loss
Disclosure of detailed information about hedges
Non-current assets		$ 43				$ 53
Total		43				53
Other derivatives
Disclosure of detailed information about hedges
Current assets		36		$ 45		16
Current liabilities		(36)		(27)		(21)
Total				18		(5)
Instruments in a fair value hedge relationship | 0.875% Non-callable bond
Disclosure of detailed information about hedges
Borrowings covered by hedges | €	€ 300		€ 300		€ 300
Instruments in a fair value hedge relationship | Interest rate swaps
Disclosure of detailed information about hedges
Non-current assets				40
Current liabilities						(3)
Total				40		(3)
Instruments in a fair value hedge relationship | Cross currency swaps
Disclosure of detailed information about hedges
Non-current assets		10		16		31
Total		10		16		31
Instruments designated in cash flow hedge | Cross currency swaps
Disclosure of detailed information about hedges
Non-current assets		4		101		197
Non-current liabilities		(17)
Total		(13)		101		197
Investments in foreign operations | Cross currency swaps
Disclosure of detailed information about hedges
Non-current assets		4				223
Current assets				213		12
Non-current liabilities		(1)		(4)		(4)
Total		$ 3		$ 209		$ 231

Derivative financial instrume_4

Derivative financial instruments - Interest rates (Details) - Derivatives	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Minimum
Disclosure of financial instruments by interest rate
Discount rate on cash flow projections	(0.50%)	(0.40%)	1.70%
Maximum
Disclosure of financial instruments by interest rate
Discount rate on cash flow projections	2.70%	3.20%	2.20%

Non-current other receivables_2

Non-current other receivables (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of other non-current receivables
Prepayments	$ 392,000	$ 461,000	$ 702,000
Accrued income	10,000
Other receivables	338,000	54,000	145,000
Non current other receivables	740,000	515,000	847,000
Circassia Pharmaceuticals PLC
Disclosure of other non-current receivables
Non current other receivables	118,000	0	0
FibroGen, Inc.
Disclosure of other non-current receivables
Non current other receivables	53,000	0	0
Moderna Therapeutics
Disclosure of other non-current receivables
Prepayments	$ 125,000	146,000	178,000
Shionogi
Disclosure of other non-current receivables
Prepayments		$ 114,000	$ 181,000

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Inventories
Raw materials and consumables	$ 830	$ 794	$ 1,024
Inventories in process	1,272	1,450	1,208
Finished goods and goods for resale	1,091	646	803
Inventories	3,193	2,890	3,035
Cost Of Inventories Recognised As Expense	2,708	2,659	2,493
Inventory write-offs	$ 231	$ 208	$ 109

Current trade and other recei_3

Current trade and other receivables (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current trade and other receivables
Total trade and other current receivables	$ 5,761	$ 5,574	$ 5,009
Trade receivables - subject to factoring
Current trade and other receivables
Trade receivables	892	724	327
Due within one year
Current trade and other receivables
Trade receivables	3,606	3,033	2,818
Less: Amounts provided for doubtful debts (Note 26)	(21)	(38)	(16)
Net current trade and other receivables	3,585	2,995	2,802
Other receivables	1,083	1,143	793
Prepayments	865	871	971
Accrued income	228	492	177
Total trade and other current receivables	$ 5,761	5,501	4,743
Due after more than one year
Current trade and other receivables
Other receivables			156
Prepayments		73	110
Total trade and other current receivables		$ 73	$ 266

Cash and cash equivalents (Deta

Cash and cash equivalents (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2019	Dec. 31, 2016
Cash and cash Equivalents
Cash at bank and in hand	$ 755	$ 893	$ 784
Short-term deposits	4,614	3,938	2,540
Cash and cash equivalents	5,369	4,831	3,324
Unsecured bank overdrafts	(146)	(160)	(152)
Cash and cash equivalents in the cash flow statement	5,223	4,671	3,172		$ 4,924
cash and cash equivalents Insurance solvency, capital and security requirements	1	86	$ 93
Instruments designated at fair value through profit and loss
Cash and cash Equivalents
Cash and cash equivalents	$ 4,186	$ 3,498		$ 1,150

Cash and cash equivalents - Non

Cash and cash equivalents - Non-cash and other movements, within operating activities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash and cash equivalents.
Gains on disposal of short-term investments			$ (161)
Net gains/(losses) on disposal on non-current assets	$ 21	$ 8	(24)
Changes on fair value of put option (Acerta Pharma)	172	(113)	(209)
Share-based payments charge for period	259	219	220
Settlement of share plan awards	(323)	(212)	(254)
Pension contributions	(175)	(174)	(157)
Pension charges recorded in operating profit	59	128	74
Long-term provision charges recorded in operating profit	506	63	36
Foreign exchange and other	(141)	(209)	(49)
Total operating activities non-cash and other movements	$ 378	$ (290)	$ (524)

Assets held for sale (Details)

Assets held for sale (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Noncurrent Assets OrDisposal Groups Classified As Held For Sale [Line items]
Assets held for sale	$ 70	$ 982	$ 0
MedImmune | RSV franchise
Noncurrent Assets OrDisposal Groups Classified As Held For Sale [Line items]
Assets held for sale		$ 982

Interest-bearing loans and bo_3

Interest-bearing loans and borrowings (Details) € in Millions, $ in Millions	Dec. 31, 2019EUR (€)	Dec. 31, 2019USD ($)	Dec. 31, 2018EUR (€)	Dec. 31, 2018USD ($)	Dec. 31, 2017EUR (€)	Dec. 31, 2017USD ($)
Interest bearing loans and borrowings
Lease liabilities		$ 188
Current debt		1,822		$ 1,754		$ 2,247
Total current debt and lease liabilities		2,010		1,754		2,247
Non-current liabilities		15,730		17,359		15,560
Lease liabilties		487
Total non-current debt and lease liabilities		16,217		17,359		15,560
Total borrowings		18,227		19,113		17,807
Overdrafts
Interest bearing loans and borrowings
Current debt		146		160		152
Other Short-term borrowings excluding overdrafts
Interest bearing loans and borrowings
Current debt		8
Bank collateral
Interest bearing loans and borrowings
Current debt		71		384		513
Lease liabilities
Interest bearing loans and borrowings
Lease liabilities		188				5
Lease liabilties		487
Floating rate notes due 2018
Interest bearing loans and borrowings
Current debt						399
1.75% Callable bond
Interest bearing loans and borrowings
Current debt						$ 998
Interest rate on borrowings					1.75%	1.75%
2.375% Callable bond
Interest bearing loans and borrowings
Current debt		$ 1,597
Non-current liabilities				$ 1,594		$ 1,591
Interest rate on borrowings	2.375%	2.375%	2.375%	2.375%	2.375%	2.375%
2.375% Callable bond
Interest bearing loans and borrowings
Interest rate on borrowings	2.375%	2.375%
1.95% Callable bond
Interest bearing loans and borrowings
Current debt				$ 999
Non-current liabilities						$ 999
Interest rate on borrowings	1.95%	1.95%			1.95%	1.95%
Commercial paper
Interest bearing loans and borrowings
Current debt				211		$ 180
0.875% Non-callable bond
Interest bearing loans and borrowings
Non-current liabilities		$ 837		$ 854		$ 890
Total borrowings | €	€ 750		€ 750		€ 750
Interest rate on borrowings	0.875%	0.875%	0.875%	0.875%	0.875%	0.875%
0.25% Callable bond
Interest bearing loans and borrowings
Non-current liabilities		$ 559		$ 570		$ 594
Interest rate on borrowings	0.25%	0.25%	0.25%	0.25%	0.25%	0.25%
Floating rate loan due 2022
Interest bearing loans and borrowings
Non-current liabilities		$ 250		$ 250		$ 249
2.375% Callable bond
Interest bearing loans and borrowings
Non-current liabilities		$ 996		$ 994		$ 992
Interest rate on borrowings	2.375%	2.375%	2.375%	2.375%	2.375%	2.375%
Floating rate loan due 2023
Interest bearing loans and borrowings
Non-current liabilities		$ 400		$ 400
7% Guaranteed debentures
Interest bearing loans and borrowings
Non-current liabilities		$ 335		$ 325		$ 347
Interest rate on borrowings	7.00%	7.00%	7.00%	7.00%	7.00%	7.00%
3.5% Callable bond
Interest bearing loans and borrowings
Non-current liabilities		$ 846		$ 845
Interest rate on borrowings	3.50%	3.50%
0.75% Callable bond
Interest bearing loans and borrowings
Non-current liabilities		$ 1,003		$ 1,022		$ 1,067
Interest rate on borrowings	0.75%	0.75%	0.75%	0.75%	0.75%	0.75%
3.375% Callable bond
Interest bearing loans and borrowings
Non-current liabilities		$ 1,983		$ 1,980		$ 1,978
Interest rate on borrowings	3.375%	3.375%	3.375%	3.375%	3.375%	3.375%
3.125% Callable bond
Interest bearing loans and borrowings
Non-current liabilities		$ 743		$ 743		$ 742
Interest rate on borrowings	3.125%	3.125%	3.125%	3.125%	3.125%	3.125%
1.25% Callable bond
Interest bearing loans and borrowings
Non-current liabilities		$ 885		$ 903		$ 941
Interest rate on borrowings	1.25%	1.25%	1.25%	1.25%	1.25%	1.25%
4% Callable bond due in 2029
Interest bearing loans and borrowings
Non-current liabilities		$ 992		$ 992
Interest rate on borrowings	4.00%	4.00%
5.75% Non-callable bond
Interest bearing loans and borrowings
Non-current liabilities		$ 457		$ 443		$ 468
Interest rate on borrowings	5.75%	5.75%	5.75%	5.75%	5.75%	5.75%
6.45% Callable bond
Interest bearing loans and borrowings
Non-current liabilities		$ 2,721		$ 2,721		$ 2,720
Interest rate on borrowings	6.45%	6.45%	6.45%	6.45%	6.45%	6.45%
4% Callable bond due in 2042
Interest bearing loans and borrowings
Non-current liabilities		$ 987		$ 987		$ 987
Interest rate on borrowings	4.00%	4.00%	4.00%	4.00%	4.00%	4.00%
4.375% Callable bond due in 2045
Interest bearing loans and borrowings
Non-current liabilities		$ 980		$ 979		$ 979
Interest rate on borrowings	4.375%	4.375%	4.375%	4.375%	4.375%	4.375%
4.375% Callable bond due in 2048
Interest bearing loans and borrowings
Non-current liabilities		$ 737		$ 736
Interest rate on borrowings	4.375%	4.375%
Other loans
Interest bearing loans and borrowings
Non-current liabilities		$ 19		$ 21		$ 16

Interest-bearing loans and bo_4

Interest-bearing loans and borrowings - Rollforward (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2019
Reconciliation of liabilities
Liabilities arising from financing activities at beginning of period	$ 19,113	$ 17,807
Lease liabilities	675
Issue of loans	500	2,971
Repayment of loans	(1,500)	(1,400)
Movement in short-term borrowings	(516)	(98)
Repayment of lease liabilities	(186)
Total changes in liabilities arising on financing activities	(1,702)	1,473
Movement in overdrafts	(13)	8
New lease liabilities	173
Exchange	(62)	(177)
Other movements	(2)	2
Liabilities arising from financing activities at end of period	$ 18,227	$ 19,113
IFRS 16
Reconciliation of liabilities
Lease liabilities			$ 720

Interest-bearing loans and bo_5

Interest-bearing loans and borrowings - Category of carrying values and fair values (Details) € in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2019EUR (€)	Dec. 31, 2019USD ($)	Dec. 31, 2018EUR (€)	Dec. 31, 2018USD ($)	Dec. 31, 2017EUR (€)	Dec. 31, 2017USD ($)
Category of carrying values and fair values
Total carrying value				$ 18,227		$ 19,113		$ 17,807
Fair value				20,549		19,588		19,280
Borrowings				18,227		19,113		17,807
Interest rate swaps
Category of carrying values and fair values
Total carrying value				18,227		19,113		17,807
Instruments at fair value through profit or loss
Category of carrying values and fair values
Total carrying value				335		325		347
Loss on fair value of bonds due to decrease credit risk	$ 5
Gain on fair value of bonds due to increase credit risk	30
Amortised cost
Category of carrying values and fair values
Total carrying value				15,106		15,947		13,958
Instruments in a fair value hedge relationship
Category of carrying values and fair values
Total carrying value				339		346		900
Ineffectiveness recognised	$ 3	$ (3)
Instruments designated in cash flow hedge
Category of carrying values and fair values
Total carrying value				2,447		2,495		2,602
Overdrafts
Category of carrying values and fair values
Total carrying value				146		160		152
Fair value				146		160		152
Overdrafts | Amortised cost
Category of carrying values and fair values
Total carrying value				146		160		152
Lease liabilities | Due within one year
Category of carrying values and fair values
Total carrying value				188				5
Fair value				188				5
Lease liabilities | Due after more than one year
Category of carrying values and fair values
Total carrying value				487
Fair value				487
Lease liabilities | Amortised cost | Due within one year
Category of carrying values and fair values
Total carrying value				188				5
Lease liabilities | Amortised cost | Due after more than one year
Category of carrying values and fair values
Total carrying value				487
Loans | Due within one year
Category of carrying values and fair values
Total carrying value				1,676		1,594		2,090
Fair value				1,684		1,587		2,092
Loans | Due after more than one year
Category of carrying values and fair values
Total carrying value				15,730		17,359		15,560
Fair value				18,044		17,841		17,031
Loans | Instruments at fair value through profit or loss
Category of carrying values and fair values
Total carrying value				287
Loans | Instruments at fair value through profit or loss | Due after more than one year
Category of carrying values and fair values
Total carrying value				335		325		347
Loans | Amortised cost | Due within one year
Category of carrying values and fair values
Total carrying value				1,676		1,594		1,494
Loans | Amortised cost | Due after more than one year
Category of carrying values and fair values
Total carrying value				12,609		14,193		12,307
Loans | Instruments in a fair value hedge relationship | Due within one year
Category of carrying values and fair values
Total carrying value								596
Loans | Instruments in a fair value hedge relationship | Due after more than one year
Category of carrying values and fair values
Total carrying value				339		346		304
Loans | Instruments designated in cash flow hedge | Due after more than one year
Category of carrying values and fair values
Total carrying value				$ 2,447		$ 2,495		$ 2,602
0.875% Non-callable bond
Category of carrying values and fair values
Borrowings | €			€ 750		€ 750		€ 750
Interest rate on borrowings			0.875%	0.875%	0.875%	0.875%	0.875%	0.875%
Loss on fair value hedge adjustment				$ 11
0.875% Non-callable bond | Instruments in a fair value hedge relationship
Category of carrying values and fair values
Total carrying value | €			€ 300
Borrowings covered by hedges | €			€ 300		€ 300		€ 300
1.75% Callable bond
Category of carrying values and fair values
Interest rate on borrowings							1.75%	1.75%
0.25% Callable bond
Category of carrying values and fair values
Interest rate on borrowings			0.25%	0.25%	0.25%	0.25%	0.25%	0.25%
7% Guaranteed debentures
Category of carrying values and fair values
Interest rate on borrowings			7.00%	7.00%	7.00%	7.00%	7.00%	7.00%
0.75% Callable bond
Category of carrying values and fair values
Interest rate on borrowings			0.75%	0.75%	0.75%	0.75%	0.75%	0.75%
1.25% Callable bond
Category of carrying values and fair values
Interest rate on borrowings			1.25%	1.25%	1.25%	1.25%	1.25%	1.25%
1.95% Callable bond
Category of carrying values and fair values
Interest rate on borrowings			1.95%	1.95%			1.95%	1.95%
5.75% Non-callable bond
Category of carrying values and fair values
Interest rate on borrowings			5.75%	5.75%	5.75%	5.75%	5.75%	5.75%

Interest-bearing loans and bo_6

Interest-bearing loans and borrowings - Interest rates used to discount future cash flows (Details) - Borrowings	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Minimum
Interest rates used to discount future cash flows
Weighted average pre-tax discount rate	(0.50%)	(0.40%)	(0.40%)
Maximum
Interest rates used to discount future cash flows
Weighted average pre-tax discount rate	1.60%	2.40%	2.00%

Trade and other payables (Detai

Trade and other payables (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Current liabilities
Trade payables	$ 1,774	$ 1,720		$ 2,285
Value added and payroll taxes and social security	323	204		243
Rebates, chargebacks, returns and other revenue accruals	4,410	4,043		3,264
Clinical trial accruals	736	993		922
Other accruals	4,026	3,951		3,324
Collaboration revenue contract liabilities	28	92
Contingent consideration	897	867		555
Other payables	1,793	971		1,048
Total	13,987	12,841		11,641
Contract liabilities within rebates, chargebacks, returns and other accruals	97	126	$ 138
Non-current liabilities
Accruals	34	7		143
Collaboration revenue contract liabilities	50	78
Contingent consideration	3,242	4,239		4,979
Other payables	819	608		895
Total	6,291	6,770		7,840
Trade payables
Trade payables, supply chain financing programme	492	166		64
Acerta Pharma
Non-current liabilities
Other payables	2,146	1,838		1,823
US
Current liabilities
Provision for contract with customer liability	3,383	3,266		2,826
Daiichi Sankyo
Current liabilities
Other payables	795	0		0
Non-current liabilities
Other payables	241	$ 0		$ 0
Contract Revenue
Current liabilities
Contract liabilities	123
Other Revenue
Current liabilities
Contract liabilities	95
Collaboration Revenue
Current liabilities
Contract liabilities	$ 28

Trade and other payables - Cont

Trade and other payables - Contingent consideration (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Reconciliation of changes in contingent liabilities in business combination
Contingent liabilities recognised in business combination at beginning of period	$ 5,106	$ 5,534	$ 5,457
Settlements	(709)	(349)	(434)
Revaluations	(614)	(495)	109
Discount unwind (Note 3)	356	416	402
Foreign exchange	(247)
Contingent liabilities recognised in business combination at end of period	$ 4,139	5,106	5,534
Minimum
Reconciliation of changes in contingent liabilities in business combination
Discount rate - contingent consideration	7.00%
Maximum
Reconciliation of changes in contingent liabilities in business combination
Discount rate - contingent consideration	9.00%
BMS's share of Global Diabetes Alliance
Reconciliation of changes in contingent liabilities in business combination
Contingent liabilities recognised in business combination at beginning of period	$ 3,983	4,477
Foreign exchange	(174)
Contingent liabilities recognised in business combination at end of period	3,300	3,983	4,477
Revaluations of contingent consideration	(516)	$ (482)	$ 208
Increase/decrease in contingent consideration balance with increase/decrease in sales of 10% compared with current estimates	$ 330
The increase/decrease in sales estimates	10.00%
Discount rate - contingent consideration	8.00%
BMS's share of Global Diabetes Alliance | Maximum
Reconciliation of changes in contingent liabilities in business combination
Contingent liabilities recognised in business combination at end of period	$ 600

Trade and other payables - Deve

Trade and other payables - Development and sales milestones payable (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Trade and other payables
Maximum future milestones	$ 4,139	$ 5,106	$ 5,534	$ 5,457
BMS's share of Global Diabetes Alliance
Trade and other payables
Maximum future milestones	3,300	$ 3,983	$ 4,477
Maximum | Spirogen
Trade and other payables
Maximum future milestones	198
Maximum | Amplimmune
Trade and other payables
Maximum future milestones	200
Maximum | Omthera
Trade and other payables
Maximum future milestones	120
Maximum | Pearl Therapeutics
Trade and other payables
Maximum future milestones	290
Maximum | BMS's share of Global Diabetes Alliance
Trade and other payables
Maximum future milestones	600
Maximum | Almirall
Trade and other payables
Maximum future milestones	450
Maximum | Definiens Group
Trade and other payables
Maximum future milestones	$ 150

Trade and other payables - Move

Trade and other payables - Movements in Provisions - US Pharmaceuticals (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Movements in provisions
At January 1	$ 891	$ 1,468	$ 1,418
Returns and payments	(338)	(445)	(472)
At 31 December	$ 1,564	$ 891	$ 1,468

Provisions (Details)

Provisions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Other Provisions
At January 1	$ 891	$ 1,468	$ 1,418
Charge for year	1,061	201	602
Cash paid	(338)	(445)	(472)
Reversals	(76)	(316)	(169)
Exchange and other movements	26	(17)	89
At 31 December	1,564	891	1,468
Current provision				$ 723	$ 506	$ 1,121
Non current provision				841	385	347
Total	1,564	891	1,468	1,564	891	1,468
Due within one year
Other Provisions
Current provision				723	506	1,121
Due after more than one year
Other Provisions
Non current provision				841	385	347
Severance
Other Provisions
At January 1	226	358	487
Charge for year	158	94	225
Cash paid	(115)	(152)	(324)
Reversals	(30)	(58)	(75)
Exchange and other movements	2	(16)	45
At 31 December	241	226	358
Total	241	226	358	241	226	358
Environmental
Other Provisions
At January 1	97	59	59
Charge for year	31	65	11
Cash paid	(39)	(24)	(20)
Reversals	(1)
Exchange and other movements	8	(3)	9
At 31 December	96	97	59
Total	96	97	59	96	97	59
Employee benefits
Other Provisions
At January 1	119	126	143
Charge for year	18	1	30
Cash paid	(13)	(9)	(43)
Reversals			(10)
Exchange and other movements	6	1	6
At 31 December	130	119	126
Total	130	119	126	130	119	126
Legal
Other Provisions
At January 1	198	654	438
Charge for year	618	11	281
Cash paid	(147)	(232)	(48)
Reversals	(28)	(230)	(40)
Exchange and other movements	1	(5)	23
At 31 December	642	198	654
Total	642	198	654	642	198	654
Other provisions.
Other Provisions
At January 1	251	271	291
Charge for year	236	30	55
Cash paid	(24)	(28)	(37)
Reversals	(17)	(28)	(44)
Exchange and other movements	9	6	6
At 31 December	455	251	271
Total	$ 455	$ 251	$ 271	$ 455	$ 251	$ 271

Post-retirement benefits - Pens

Post-retirement benefits - Pensions (Details) £ in Millions, $ in Millions	1 Months Ended			12 Months Ended
	Mar. 31, 2019GBP (£)	Mar. 31, 2019USD ($)	Oct. 31, 2016GBP (£)	Dec. 31, 2019GBP (£)plancountry	Dec. 31, 2019USD ($)employeeinstallmentplancountry	Dec. 31, 2018GBP (£)	Dec. 31, 2018USD ($)employee	Dec. 31, 2017GBP (£)employeeinstallment	Mar. 31, 2016GBP (£)	Mar. 31, 2016USD ($)
Post-retirement benefits
Number of employees | employee					70,600		64,600	61,100
Plan liabilities					$ 12,412
Market value of plan assets					9,605		$ 8,854
Pension schemes
Post-retirement benefits
Plan liabilities					$ 12,412		11,365
Market value of plan assets							$ 8,854
Pension schemes | UK, US and Sweden
Post-retirement benefits
Total defined benefit obligations as a percentage of total					91.00%
Net defined benefit obligations as a percentage of total					80.00%
Number of main defined benefit pension obligation countries | plan				3	3
Pension schemes | UK defined benefit plans
Post-retirement benefits
Total defined benefit obligations as a percentage of total					61.00%
Inflation assumption (as a percent)					3.00%		3.20%		2.60%	2.60%
Salary increases assumption (as a percent)									0.00%	0.00%
Pension increases assumption (as a percent)					2.80%		3.00%		2.85%	2.85%
Investment returns assumption (as a percent)									3.71%	3.71%
Plan liabilities					$ 7,580		$ 7,052		£ 5,265	$ 6,915
Market value of plan assets					6,464		$ 5,989		£ 4,492	$ 5,899
Refund adjustments required in respect of governing documentation | £				£ 0
GMP equalisation past service cost					$ 49
Pension schemes | Rest of Group defined benefit plans
Post-retirement benefits
Inflation assumption (as a percent)					1.50%		1.70%
Salary increases assumption (as a percent)					2.30%		2.50%
Pension increases assumption (as a percent)					1.50%		1.70%
Plan liabilities					$ 1,080		$ 978
Market value of plan assets					512		469
Pension schemes | Rest of Group defined benefit plans | US
Post-retirement benefits
Plan liabilities					1,592		1,463
Market value of plan assets					$ 1,506		$ 1,379
Pension schemes | Rest of Group defined benefit plans | SWEDEN
Post-retirement benefits
Inflation assumption (as a percent)					1.80%		1.90%
Salary increases assumption (as a percent)					3.30%		3.40%
Pension increases assumption (as a percent)					1.80%		1.90%
Plan liabilities					$ 2,160		$ 1,872
Market value of plan assets					$ 1,123		1,017
UK defined benefit pension | UK defined benefit plans
Post-retirement benefits
Number of employees | employee					643
Deficit recovery contribution	£ 51	$ 65
Contribution	£ 27	$ 35
Letter of credit for additional deficit recovery contribution payment | £								£ 126
Number of equal instalments | installment								5
Number of instalments paid | installment					2
GMP equalisation past service cost						£ 17	$ 23
past service credit				38	$ 49
UK defined benefit pension | UK defined benefit plans | Maximum
Post-retirement benefits
Guaranteed amount related to long-term funding agreement with Trustee | £			£ 350
UK defined benefit pension | UK defined benefit plans | Due within one year
Post-retirement benefits
Further contribution				£ 28	$ 51
US defined benefit pension | Rest of Group defined benefit plans | US
Post-retirement benefits
Total defined benefit obligations as a percentage of total					13.00%
Plan liabilities					$ 1,592
Market value of plan assets					$ 1,506
Sweden defined benefit pension | Rest of Group defined benefit plans | SWEDEN
Post-retirement benefits
Total defined benefit obligations as a percentage of total					17.00%
Plan liabilities					$ 2,160
Market value of plan assets					$ 1,123
Three main country defined benefit plans | UK, US and Sweden
Post-retirement benefits
Number of main defined benefit pension obligation countries | country				3	3
Three main country defined benefit plans | UK, US and Sweden | Due within one year
Post-retirement benefits
Further contribution					$ 31

Post-retirement benefits - Post

Post-retirement benefits - Post-retirement benefits other than pensions (Details) $ in Millions	Dec. 31, 2019USD ($)person	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Post-retirement benefits
Market value of plan assets	$ 9,605	$ 9,605	$ 8,854
Plan liabilities	$ 12,412	12,412
Post-retirement defined benefits other than pensions
Post-retirement benefits
Retired employees and covered dependants that currently benefit | person	3,087
Current employees that will be eligible on their retirement | person	2,007
Cost of post-retirement benefits		3	$ 5	$ 14
Market value of plan assets	$ 252	252
Plan liabilities	$ 252	$ 252

Post-retirement benefits - Assu

Post-retirement benefits - Assumptions (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Mar. 31, 2016
Post-retirement benefits
Retirement age used in life expectancy assumption	65 years
Long-term improvement rate of Mortality Projections Model	1.00%
Pension schemes
Post-retirement benefits
Percentage of members assumed to transfer out	30.00%	30.00%
Pension schemes | UK defined benefit plans
Post-retirement benefits
Inflation assumption (as a percent)	3.00%	3.20%	2.60%
Rate of increase in salaries (as a percent)			0.00%
Rate of increase in pensions in payment (as a percent)	2.80%	3.00%	2.85%
Discount rate - defined benefit obligation (as a percent)	2.00%	2.80%
Discount rate - interest cost	2.70%	2.40%
Discount rate - service cost	2.80%	2.50%
Weighted average duration of the post-retirement scheme obligations	16 years
Pension schemes | UK defined benefit plans | Life expectancy assumptions at age 65 for male members retiring currently
Post-retirement benefits
Life expectancy assumption	22 years 4 months 24 days	23 years 2 months 12 days
Pension schemes | UK defined benefit plans | Life expectancy assumptions at age 65 for male members expected to retire in twenty-years
Post-retirement benefits
Life expectancy assumption	23 years 8 months 12 days	24 years 8 months 12 days
Pension schemes | UK defined benefit plans | Life expectancy assumptions at age 65 for female members retiring currently
Post-retirement benefits
Life expectancy assumption	23 years 8 months 12 days	24 years
Pension schemes | UK defined benefit plans | Life expectancy assumptions at age 65 for female members expected to retire in twenty-years
Post-retirement benefits
Life expectancy assumption	25 years	25 years 6 months
Pension schemes | Rest of Group defined benefit plans
Post-retirement benefits
Inflation assumption (as a percent)	1.50%	1.70%
Rate of increase in salaries (as a percent)	2.30%	2.50%
Rate of increase in pensions in payment (as a percent)	1.50%	1.70%
Discount rate - defined benefit obligation (as a percent)	1.30%	1.80%
Discount rate - interest cost	1.60%	1.50%
Discount rate - service cost	1.90%	1.90%
Weighted average duration of the post-retirement scheme obligations	20 years
Pension schemes | Rest of Group defined benefit plans | US
Post-retirement benefits
Discount rate - defined benefit obligation (as a percent)	3.20%	4.30%
Discount rate - interest cost	3.90%	3.30%
Discount rate - service cost	4.00%	3.30%
Weighted average duration of the post-retirement scheme obligations	9 years
Pension schemes | Rest of Group defined benefit plans | US | Life expectancy assumptions at age 65 for male members retiring currently
Post-retirement benefits
Life expectancy assumption	22 years	22 years 2 months 12 days
Pension schemes | Rest of Group defined benefit plans | US | Life expectancy assumptions at age 65 for male members expected to retire in twenty-years
Post-retirement benefits
Life expectancy assumption	24 years 10 months 24 days	22 years 9 months 18 days
Pension schemes | Rest of Group defined benefit plans | US | Life expectancy assumptions at age 65 for female members retiring currently
Post-retirement benefits
Life expectancy assumption	23 years 4 months 24 days	23 years 8 months 12 days
Pension schemes | Rest of Group defined benefit plans | US | Life expectancy assumptions at age 65 for female members expected to retire in twenty-years
Post-retirement benefits
Life expectancy assumption	26 years 7 months 6 days	26 years 9 months 18 days
Pension schemes | Rest of Group defined benefit plans | SWEDEN
Post-retirement benefits
Inflation assumption (as a percent)	1.80%	1.90%
Rate of increase in salaries (as a percent)	3.30%	3.40%
Rate of increase in pensions in payment (as a percent)	1.80%	1.90%
Discount rate - defined benefit obligation (as a percent)	1.50%	2.40%
Discount rate - interest cost	2.00%	2.20%
Discount rate - service cost	2.50%	2.80%
Weighted average duration of the post-retirement scheme obligations	20 years
Pension schemes | Rest of Group defined benefit plans | SWEDEN | Life expectancy assumptions at age 65 for male members retiring currently
Post-retirement benefits
Life expectancy assumption	21 years 10 months 24 days	21 years 10 months 24 days
Pension schemes | Rest of Group defined benefit plans | SWEDEN | Life expectancy assumptions at age 65 for male members expected to retire in twenty-years
Post-retirement benefits
Life expectancy assumption	23 years 7 months 6 days	23 years 7 months 6 days
Pension schemes | Rest of Group defined benefit plans | SWEDEN | Life expectancy assumptions at age 65 for female members retiring currently
Post-retirement benefits
Life expectancy assumption	24 years 6 months	24 years 6 months
Pension schemes | Rest of Group defined benefit plans | SWEDEN | Life expectancy assumptions at age 65 for female members expected to retire in twenty-years
Post-retirement benefits
Life expectancy assumption	25 years 7 months 6 days	25 years 7 months 6 days

Post-retirement benefits - Risk

Post-retirement benefits - Risks (Details) - Pension schemes - UK defined benefit plans $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)person	Dec. 31, 2017	Dec. 31, 2013
Post-retirement benefits
Total defined benefit obligations as a percentage of total	61.00%
Percentage of Pension Fund in growth assets	72.50%
Currency risk of plan assets hedged (as a percent)	80.00%
Interest rate risk of plan assets hedged (as a percent)	85.00%	85.00%
Expected interest rate risk of plan assets hedged (as a percent)	100.00%
Annual inflation increase cap (as a percent)	5.00%
Inflation risk of plan assets hedged (as a percent)	85.00%	88.00%
Expected inflation risk of plan assets hedged (as a percent)	100.00%
Derivatives: Longevity swap
Post-retirement benefits
Period under hedge			75 years
Number of current pensioners | person	10,000
Defined benefit obligation covered by hedge	$ 3,100
Period of increase in life expectancy to receive cash under hedge	1 year
Increase in pension fund assets from hedged increase in life expectancy	$ 210

Post-retirement benefits - Sche

Post-retirement benefits - Scheme assets and obligations (Detail) £ in Millions, $ in Millions	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Mar. 31, 2016GBP (£)	Mar. 31, 2016USD ($)
Scheme assets
Cash and cash equivalents	$ 316	$ 301
Other	314	251
Scheme deficit
Total fair value of scheme assets	9,605	8,854
Total value of scheme obligations	(12,412)
Deficit in the scheme as recognised in the Consolidated Statement of Financial Position	(2,807)
Quoted
Scheme assets
Cash and cash equivalents	95	120
Other	(1)	1
Scheme deficit
Total fair value of scheme assets	3,210	3,119
Unquoted
Scheme assets
Cash and cash equivalents	221	181
Other	315	250
Scheme deficit
Total fair value of scheme assets	6,395	5,735
Scheme obligations
Scheme deficit
Total value of scheme obligations	(12,412)	(11,365)	$ (12,505)
Active membership
Scheme deficit
Total value of scheme obligations	(1,792)
Deferred membership
Scheme deficit
Total value of scheme obligations	(3,560)
Pensioners
Scheme deficit
Total value of scheme obligations	(7,060)
Government bonds
Scheme assets
Debt	2,097	1,924
Government bonds | Quoted
Scheme assets
Debt	2,097	1,924
Corporate bonds
Scheme assets
Debt	782	870
Corporate bonds | Quoted
Scheme assets
Debt	782	870
Derivatives
Scheme assets
Derivatives:	(108)	(41)
Derivatives | Quoted
Scheme assets
Derivatives:	2	3
Derivatives | Unquoted
Scheme assets
Derivatives:	(110)	(44)
Investment funds: Listed Equities
Scheme assets
Investment funds:	1,885	1,588
Investment funds: Listed Equities | Quoted
Scheme assets
Investment funds:	225	201
Investment funds: Listed Equities | Unquoted
Scheme assets
Investment funds:	1,660	1,387
Investment funds:Global Macro Hedge
Scheme assets
Investment funds:	1,111	1,013
Investment funds:Global Macro Hedge | Unquoted
Scheme assets
Investment funds:	1,111	1,013
Investment funds:Diversified growth/Multi Strategy
Scheme assets
Investment funds:	2,324	2,161
Investment funds:Diversified growth/Multi Strategy | Quoted
Scheme assets
Investment funds:	10
Investment funds:Diversified growth/Multi Strategy | Unquoted
Scheme assets
Investment funds:	2,314	2,161
Investment funds:Multi-asset credit
Scheme assets
Investment funds:	884	787
Investment funds:Multi-asset credit | Unquoted
Scheme assets
Investment funds:	884	787
Pension schemes
Scheme deficit
Total fair value of scheme assets		8,854
Total value of scheme obligations	(12,412)	(11,365)
Deficit in the scheme as recognised in the Consolidated Statement of Financial Position		(2,511)
Pension schemes | Active membership
Scheme deficit
Total value of scheme obligations		(2,219)
Pension schemes | Deferred membership
Scheme deficit
Total value of scheme obligations		(2,880)
Pension schemes | Pensioners
Scheme deficit
Total value of scheme obligations		(6,266)
Pension schemes | UK defined benefit plans
Scheme deficit
Total fair value of scheme assets	6,464	5,989		£ 4,492	$ 5,899
Total value of scheme obligations	(7,580)	(7,052)		£ (5,265)	$ (6,915)
Deficit in the scheme as recognised in the Consolidated Statement of Financial Position	(1,116)	(1,063)
Pension schemes | UK defined benefit plans | Quoted
Scheme assets
Cash and cash equivalents	55	39
Scheme deficit
Total fair value of scheme assets	1,804	1,764
Pension schemes | UK defined benefit plans | Unquoted
Scheme assets
Cash and cash equivalents	169	176
Scheme deficit
Total fair value of scheme assets	4,660	4,225
Pension schemes | UK defined benefit plans | Scheme obligations
Scheme deficit
Total value of scheme obligations	(7,580)	(7,052)	(8,032)
Pension schemes | UK defined benefit plans | Active membership
Scheme deficit
Total value of scheme obligations	(502)	(751)
Pension schemes | UK defined benefit plans | Deferred membership
Scheme deficit
Total value of scheme obligations	(1,760)	(1,665)
Pension schemes | UK defined benefit plans | Pensioners
Scheme deficit
Total value of scheme obligations	(5,318)	(4,636)
Pension schemes | UK defined benefit plans | Government bonds | Quoted
Scheme assets
Debt	1,749	1,725
Pension schemes | UK defined benefit plans | Derivatives | Unquoted
Scheme assets
Derivatives:	(354)	(189)
Pension schemes | UK defined benefit plans | Investment funds: Listed Equities | Unquoted
Scheme assets
Investment funds:	1,474	1,197
Pension schemes | UK defined benefit plans | Investment funds:Global Macro Hedge | Unquoted
Scheme assets
Investment funds:	827	733
Pension schemes | UK defined benefit plans | Investment funds:Diversified growth/Multi Strategy | Unquoted
Scheme assets
Investment funds:	1,861	1,712
Pension schemes | UK defined benefit plans | Investment funds:Multi-asset credit | Unquoted
Scheme assets
Investment funds:	683	596
Pension schemes | Rest of Group defined benefit plans
Scheme deficit
Total fair value of scheme assets	512	469
Total value of scheme obligations	(1,080)	(978)
Deficit in the scheme as recognised in the Consolidated Statement of Financial Position	(568)	(509)
Pension schemes | Rest of Group defined benefit plans | Quoted
Scheme assets
Other	(1)	1
Scheme deficit
Total fair value of scheme assets	198	213
Pension schemes | Rest of Group defined benefit plans | Unquoted
Scheme assets
Cash and cash equivalents	5
Other	309	242
Scheme deficit
Total fair value of scheme assets	314	256
Pension schemes | Rest of Group defined benefit plans | Scheme obligations
Scheme deficit
Total value of scheme obligations	(1,080)	(978)	(955)
Pension schemes | Rest of Group defined benefit plans | Active membership
Scheme deficit
Total value of scheme obligations	(406)	(370)
Pension schemes | Rest of Group defined benefit plans | Deferred membership
Scheme deficit
Total value of scheme obligations	(381)	(339)
Pension schemes | Rest of Group defined benefit plans | Pensioners
Scheme deficit
Total value of scheme obligations	(293)	(269)
Pension schemes | Rest of Group defined benefit plans | Government bonds | Quoted
Scheme assets
Debt	74	42
Pension schemes | Rest of Group defined benefit plans | Corporate bonds | Quoted
Scheme assets
Debt	55	103
Pension schemes | Rest of Group defined benefit plans | Derivatives | Quoted
Scheme assets
Derivatives:	(1)	3
Pension schemes | Rest of Group defined benefit plans | Investment funds: Listed Equities | Quoted
Scheme assets
Investment funds:	61	64
Pension schemes | Rest of Group defined benefit plans | Investment funds: Listed Equities | Unquoted
Scheme assets
Investment funds:		14
Pension schemes | Rest of Group defined benefit plans | Investment funds:Diversified growth/Multi Strategy | Quoted
Scheme assets
Investment funds:	10
US | Pension schemes | Rest of Group defined benefit plans
Scheme deficit
Total fair value of scheme assets	1,506	1,379
Total value of scheme obligations	(1,592)	(1,463)
Deficit in the scheme as recognised in the Consolidated Statement of Financial Position	(86)	(84)
US | Pension schemes | Rest of Group defined benefit plans | Quoted
Scheme assets
Cash and cash equivalents	40	81
Scheme deficit
Total fair value of scheme assets	1,208	1,142
US | Pension schemes | Rest of Group defined benefit plans | Unquoted
Scheme assets
Cash and cash equivalents	44
Other	6	8
Scheme deficit
Total fair value of scheme assets	298	237
US | Pension schemes | Rest of Group defined benefit plans | Scheme obligations
Scheme deficit
Total value of scheme obligations	(1,592)	(1,463)	(1,707)
US | Pension schemes | Rest of Group defined benefit plans | Active membership
Scheme deficit
Total value of scheme obligations	(114)	(460)
US | Pension schemes | Rest of Group defined benefit plans | Deferred membership
Scheme deficit
Total value of scheme obligations	(715)	(273)
US | Pension schemes | Rest of Group defined benefit plans | Pensioners
Scheme deficit
Total value of scheme obligations	(763)	(730)
US | Pension schemes | Rest of Group defined benefit plans | Government bonds | Quoted
Scheme assets
Debt	274	157
US | Pension schemes | Rest of Group defined benefit plans | Corporate bonds | Quoted
Scheme assets
Debt	727	767
US | Pension schemes | Rest of Group defined benefit plans | Derivatives | Quoted
Scheme assets
Derivatives:	3
US | Pension schemes | Rest of Group defined benefit plans | Derivatives | Unquoted
Scheme assets
Derivatives:		(2)
US | Pension schemes | Rest of Group defined benefit plans | Investment funds: Listed Equities | Quoted
Scheme assets
Investment funds:	164	137
US | Pension schemes | Rest of Group defined benefit plans | Investment funds: Listed Equities | Unquoted
Scheme assets
Investment funds:	64	52
US | Pension schemes | Rest of Group defined benefit plans | Investment funds:Global Macro Hedge | Unquoted
Scheme assets
Investment funds:	73	72
US | Pension schemes | Rest of Group defined benefit plans | Investment funds:Diversified growth/Multi Strategy | Unquoted
Scheme assets
Investment funds:	72	69
US | Pension schemes | Rest of Group defined benefit plans | Investment funds:Multi-asset credit | Unquoted
Scheme assets
Investment funds:	39	38
SWEDEN | Pension schemes | Rest of Group defined benefit plans
Scheme deficit
Total fair value of scheme assets	1,123	1,017
Total value of scheme obligations	(2,160)	(1,872)
Deficit in the scheme as recognised in the Consolidated Statement of Financial Position	(1,037)	(855)
SWEDEN | Pension schemes | Rest of Group defined benefit plans | Unquoted
Scheme assets
Cash and cash equivalents	3	5
Scheme deficit
Total fair value of scheme assets	1,123	1,017
SWEDEN | Pension schemes | Rest of Group defined benefit plans | Scheme obligations
Scheme deficit
Total value of scheme obligations	(2,160)	(1,872)	$ (1,811)
SWEDEN | Pension schemes | Rest of Group defined benefit plans | Active membership
Scheme deficit
Total value of scheme obligations	(770)	(638)
SWEDEN | Pension schemes | Rest of Group defined benefit plans | Deferred membership
Scheme deficit
Total value of scheme obligations	(704)	(603)
SWEDEN | Pension schemes | Rest of Group defined benefit plans | Pensioners
Scheme deficit
Total value of scheme obligations	(686)	(631)
SWEDEN | Pension schemes | Rest of Group defined benefit plans | Derivatives | Unquoted
Scheme assets
Derivatives:	244	147
SWEDEN | Pension schemes | Rest of Group defined benefit plans | Investment funds: Listed Equities | Unquoted
Scheme assets
Investment funds:	122	124
SWEDEN | Pension schemes | Rest of Group defined benefit plans | Investment funds:Global Macro Hedge | Unquoted
Scheme assets
Investment funds:	211	208
SWEDEN | Pension schemes | Rest of Group defined benefit plans | Investment funds:Diversified growth/Multi Strategy | Unquoted
Scheme assets
Investment funds:	381	380
SWEDEN | Pension schemes | Rest of Group defined benefit plans | Investment funds:Multi-asset credit | Unquoted
Scheme assets
Investment funds:	$ 162	$ 153

Post-retirement benefits - Chan

Post-retirement benefits - Change in fair value of scheme assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Movement
Actual return on the plan assets		$ 239
Scheme assets
Movement
Beginning of year	$ 8,854	9,922
Interest income on scheme assets	236	235
Expenses	(6)	(14)
Actuarial gains (losses)	696	(474)
Exchange and other adjustments	160	(372)
Employer contributions	175	174
Participant contributions	2	3
Benefits paid	(512)	(620)
End of year	9,605	8,854
Actual return on the plan assets	932
Pension schemes | UK defined benefit plans | Scheme assets
Movement
Beginning of year	5,989	6,749
Interest income on scheme assets	159	156
Expenses	(5)	(5)
Actuarial gains (losses)	294	(351)
Exchange and other adjustments	207	(349)
Employer contributions	133	143
Participant contributions	2	2
Benefits paid	(315)	(356)
End of year	6,464	5,989
Pension schemes | Rest of Group defined benefit plans | Scheme assets
Movement
Beginning of year	469	423
Interest income on scheme assets	7	5
Expenses	(1)	2
Actuarial gains (losses)	47	1
Exchange and other adjustments	(4)	64
Employer contributions	23	7
Participant contributions		1
Benefits paid	(29)	(34)
End of year	512	469
US | Pension schemes | Rest of Group defined benefit plans | Scheme assets
Movement
Beginning of year	1,379	1,603
Interest income on scheme assets	51	50
Expenses		(1)
Actuarial gains (losses)	183	(106)
Exchange and other adjustments		(2)
Employer contributions	14	14
Benefits paid	(121)	(179)
End of year	1,506	1,379
SWEDEN | Pension schemes | Rest of Group defined benefit plans | Scheme assets
Movement
Beginning of year	1,017	1,147
Interest income on scheme assets	19	24
Expenses		(10)
Actuarial gains (losses)	172	(18)
Exchange and other adjustments	(43)	(85)
Employer contributions	5	10
Benefits paid	(47)	(51)
End of year	$ 1,123	$ 1,017

Post-retirement benefits - Move

Post-retirement benefits - Movement in and components of scheme obligations (Details) £ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Mar. 31, 2016GBP (£)	Mar. 31, 2016USD ($)
Movement
End of year	$ 12,412
Obligations of plans	(12,412)
Scheme obligations
Movement
Beginning of year	11,365	$ 12,505
Current service cost	(87)	(74)
Past service (credit)/cost	34	(40)
Participant contributions	(2)	(3)
Benefits paid	512	620
Interest expense on post-retirement scheme obligations	(289)	(287)
Actuarial (losses) gains on defined benefit obligation	(1,060)	428
Exchange and other adjustments	(155)	496
End of year	12,412	11,365
Obligations of plans	(12,412)	(11,365)
Pension schemes
Movement
Beginning of year	11,365
End of year	12,412	11,365
Obligations of plans	(12,412)	(11,365)
Pension schemes | Funded - pension schemes
Movement
Beginning of year	10,524
End of year	11,532	10,524
Obligations of plans	(11,532)	(10,524)
Pension schemes | Funded - post-retirement healthcare
Movement
Beginning of year	230
End of year	216	230
Obligations of plans	(216)	(230)
Pension schemes | Unfunded - pension schemes
Movement
Beginning of year	577
End of year	628	577
Obligations of plans	(628)	(577)
Pension schemes | Unfunded - post-retirement healthcare
Movement
Beginning of year	34
End of year	36	34
Obligations of plans	(36)	(34)
Pension schemes | UK defined benefit plans
Movement
Beginning of year	7,052
End of year	7,580	7,052
Obligations of plans	(7,580)	(7,052)	£ (5,265)	$ (6,915)
Pension schemes | UK defined benefit plans | Scheme obligations
Movement
Beginning of year	7,052	8,032
Current service cost	(18)	(23)
Past service (credit)/cost	34	(34)
Participant contributions	(2)	(2)
Benefits paid	315	356
Interest expense on post-retirement scheme obligations	(186)	(185)
Actuarial (losses) gains on defined benefit obligation	(435)	472
Exchange and other adjustments	(236)	396
End of year	7,580	7,052
Obligations of plans	(7,580)	(7,052)
Pension schemes | UK defined benefit plans | Funded - pension schemes
Movement
Beginning of year	7,034
End of year	7,561	7,034
Obligations of plans	(7,561)	(7,034)
Pension schemes | UK defined benefit plans | Unfunded - post-retirement healthcare
Movement
Beginning of year	18
End of year	19	18
Obligations of plans	(19)	(18)
Pension schemes | Rest of Group defined benefit plans
Movement
Beginning of year	978
End of year	1,080	978
Obligations of plans	(1,080)	(978)
Pension schemes | Rest of Group defined benefit plans | Scheme obligations
Movement
Beginning of year	978	955
Current service cost	(21)	(15)
Past service (credit)/cost	3
Participant contributions		(1)
Benefits paid	29	34
Interest expense on post-retirement scheme obligations	(15)	(13)
Actuarial (losses) gains on defined benefit obligation	(106)	12
Exchange and other adjustments	8	(40)
End of year	1,080	978
Obligations of plans	(1,080)	(978)
Pension schemes | Rest of Group defined benefit plans | Funded - pension schemes
Movement
Beginning of year	479
End of year	531	479
Obligations of plans	(531)	(479)
Pension schemes | Rest of Group defined benefit plans | Unfunded - pension schemes
Movement
Beginning of year	483
End of year	532	483
Obligations of plans	(532)	(483)
Pension schemes | Rest of Group defined benefit plans | Unfunded - post-retirement healthcare
Movement
Beginning of year	16
End of year	17	16
Obligations of plans	(17)	(16)
US | Pension schemes | Rest of Group defined benefit plans
Movement
Beginning of year	1,463
End of year	1,592	1,463
Obligations of plans	(1,592)	(1,463)
US | Pension schemes | Rest of Group defined benefit plans | Scheme obligations
Movement
Beginning of year	1,463	1,707
Current service cost	(4)	(4)
Benefits paid	121	179
Interest expense on post-retirement scheme obligations	(55)	(53)
Actuarial (losses) gains on defined benefit obligation	(191)	121
Exchange and other adjustments		1
End of year	1,592	1,463
Obligations of plans	(1,592)	(1,463)
US | Pension schemes | Rest of Group defined benefit plans | Funded - pension schemes
Movement
Beginning of year	1,139
End of year	1,280	1,139
Obligations of plans	(1,280)	(1,139)
US | Pension schemes | Rest of Group defined benefit plans | Funded - post-retirement healthcare
Movement
Beginning of year	230
End of year	216	230
Obligations of plans	(216)	(230)
US | Pension schemes | Rest of Group defined benefit plans | Unfunded - pension schemes
Movement
Beginning of year	94
End of year	96	94
Obligations of plans	(96)	(94)
SWEDEN | Pension schemes | Rest of Group defined benefit plans
Movement
Beginning of year	1,872
End of year	2,160	1,872
Obligations of plans	(2,160)	(1,872)
SWEDEN | Pension schemes | Rest of Group defined benefit plans | Scheme obligations
Movement
Beginning of year	1,872	1,811
Current service cost	(44)	(32)
Past service (credit)/cost	(3)	(6)
Benefits paid	47	51
Interest expense on post-retirement scheme obligations	(33)	(36)
Actuarial (losses) gains on defined benefit obligation	(328)	(177)
Exchange and other adjustments	73	139
End of year	2,160	1,872
Obligations of plans	(2,160)	(1,872)
SWEDEN | Pension schemes | Rest of Group defined benefit plans | Funded - pension schemes
Movement
Beginning of year	1,872
End of year	2,160	1,872
Obligations of plans	$ (2,160)	$ (1,872)

Post-retirement benefits - Amou

Post-retirement benefits - Amounts charged to comprehensive income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Post-retirement benefits
Past service credit/(cost)	$ 34	$ (40)
Net interest on post-employment defined benefit plan liabilities	(53)	(52)	$ (49)
Other comprehensive income
Remeasurement of the defined benefit liability	(364)	(46)	$ (242)
Pension schemes
Post-retirement benefits
Current service cost	(87)	(74)
Past service credit/(cost)	34	(40)
Expenses	(6)	(14)
Total charge to operating profit	(59)	(128)
Interest income on scheme assets	236	235
Interest expense on post-retirement scheme obligations	(289)	(287)
Net interest on post-employment defined benefit plan liabilities	(53)	(52)
Charge before taxation	(112)	(180)
Other comprehensive income
Difference between the actual return and the expected return on the post-retirement scheme assets	696	(474)
Experience gains/(losses) arising on the post-retirement scheme obligations	(6)	(72)
Changes in financial assumptions underlying the present value of the post-retirement scheme obligations	(1,375)	393
Changes in demographic assumptions	321	107
Remeasurement of the defined benefit liability	(364)	(46)
Pension schemes | UK defined benefit plans
Post-retirement benefits
Current service cost	(18)	(23)
Past service credit/(cost)	34	(34)
Expenses	(5)	(5)
Total charge to operating profit	11	(62)
Interest income on scheme assets	159	156
Interest expense on post-retirement scheme obligations	(186)	(185)
Net interest on post-employment defined benefit plan liabilities	(27)	(29)
Charge before taxation	(16)	(91)
Other comprehensive income
Difference between the actual return and the expected return on the post-retirement scheme assets	294	(351)
Experience gains/(losses) arising on the post-retirement scheme obligations	39	(26)
Changes in financial assumptions underlying the present value of the post-retirement scheme obligations	(771)	389
Changes in demographic assumptions	297	109
Remeasurement of the defined benefit liability	(141)	121
GMP equalisation past service cost	49
Pension schemes | Rest of Group defined benefit plans
Post-retirement benefits
Current service cost	(21)	(15)
Past service credit/(cost)	3
Expenses	(1)	2
Total charge to operating profit	(19)	(13)
Interest income on scheme assets	7	5
Interest expense on post-retirement scheme obligations	(15)	(13)
Net interest on post-employment defined benefit plan liabilities	(8)	(8)
Charge before taxation	(27)	(21)
Other comprehensive income
Difference between the actual return and the expected return on the post-retirement scheme assets	47	1
Experience gains/(losses) arising on the post-retirement scheme obligations	(5)	6
Changes in financial assumptions underlying the present value of the post-retirement scheme obligations	(104)	13
Changes in demographic assumptions	3	(7)
Remeasurement of the defined benefit liability	(59)	13
US | Pension schemes | Rest of Group defined benefit plans
Post-retirement benefits
Current service cost	(4)	(4)
Expenses		(1)
Total charge to operating profit	(4)	(5)
Interest income on scheme assets	51	50
Interest expense on post-retirement scheme obligations	(55)	(53)
Net interest on post-employment defined benefit plan liabilities	(4)	(3)
Charge before taxation	(8)	(8)
Other comprehensive income
Difference between the actual return and the expected return on the post-retirement scheme assets	183	(106)
Experience gains/(losses) arising on the post-retirement scheme obligations	(30)	(35)
Changes in financial assumptions underlying the present value of the post-retirement scheme obligations	(182)	151
Changes in demographic assumptions	21	5
Remeasurement of the defined benefit liability	(8)	15
SWEDEN | Pension schemes | Rest of Group defined benefit plans
Post-retirement benefits
Current service cost	(44)	(32)
Past service credit/(cost)	(3)	(6)
Expenses		(10)
Total charge to operating profit	(47)	(48)
Interest income on scheme assets	19	24
Interest expense on post-retirement scheme obligations	(33)	(36)
Net interest on post-employment defined benefit plan liabilities	(14)	(12)
Charge before taxation	(61)	(60)
Other comprehensive income
Difference between the actual return and the expected return on the post-retirement scheme assets	172	(18)
Experience gains/(losses) arising on the post-retirement scheme obligations	(10)	(17)
Changes in financial assumptions underlying the present value of the post-retirement scheme obligations	(318)	(160)
Remeasurement of the defined benefit liability	$ (156)	$ (195)

Post-retirement benefits - Pe_2

Post-retirement benefits - Pension cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Post-retirement benefits
Defined contribution schemes	$ 432	$ 341
Current service costs and expenses	93	88
Past service credit/(cost)	(34)	40
Pension costs	491	469	$ 378
Pension schemes
Post-retirement benefits
Past service credit/(cost)	$ (34)	$ 40

Post-retirement benefits - Effe

Post-retirement benefits - Effect of change in significant actuarial assumptions (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)plan	Dec. 31, 2018USD ($)
Effect of a change in the significant actuarial assumptions used to determine the retirement benefits obligations
Actuarial assumption increase (as a percent)	0.50%	0.50%
Actuarial assumption decrease (as a percent)	0.50%	0.50%
Discount rate
Effect of a change in the significant actuarial assumptions used to determine the retirement benefits obligations
Effect of increase in actuarial assumption on defined benefit pension obligation	$ 833	$ 750
Effect of decrease in actuarial assumption on defined benefit pension obligation	$ (936)	$ (843)
Inflation rate
Effect of a change in the significant actuarial assumptions used to determine the retirement benefits obligations
Actuarial assumption increase (as a percent)	0.50%	0.50%
Effect of increase in actuarial assumption on defined benefit pension obligation	$ (577)	$ (615)
Actuarial assumption decrease (as a percent)	0.50%	0.50%
Effect of decrease in actuarial assumption on defined benefit pension obligation	$ 525	$ 572
Rate of increase in salaries
Effect of a change in the significant actuarial assumptions used to determine the retirement benefits obligations
Actuarial assumption increase (as a percent)	0.50%	0.50%
Effect of increase in actuarial assumption on defined benefit pension obligation	$ (68)	$ (52)
Actuarial assumption decrease (as a percent)	0.50%	0.50%
Effect of decrease in actuarial assumption on defined benefit pension obligation	$ 63	$ 48
Mortality rate
Effect of a change in the significant actuarial assumptions used to determine the retirement benefits obligations
Actuarial assumption increase	1 year	1 year
Effect of increase in actuarial assumption on defined benefit pension obligation	$ (443)	$ (393)
Actuarial assumption decrease	1 year	1 year
Effect of decrease in actuarial assumption on defined benefit pension obligation	$ 440	$ 394
Pension schemes | UK, US and Sweden
Effect of a change in the significant actuarial assumptions used to determine the retirement benefits obligations
Number of main defined benefit pension obligation countries | plan	3
Pension schemes | UK defined benefit plans | Discount rate
Effect of a change in the significant actuarial assumptions used to determine the retirement benefits obligations
Effect of increase in actuarial assumption on defined benefit pension obligation	$ 559	520
Effect of decrease in actuarial assumption on defined benefit pension obligation	(628)	(586)
Pension schemes | UK defined benefit plans | Inflation rate
Effect of a change in the significant actuarial assumptions used to determine the retirement benefits obligations
Effect of increase in actuarial assumption on defined benefit pension obligation	(374)	(444)
Effect of decrease in actuarial assumption on defined benefit pension obligation	349	421
Pension schemes | UK defined benefit plans | Mortality rate
Effect of a change in the significant actuarial assumptions used to determine the retirement benefits obligations
Effect of increase in actuarial assumption on defined benefit pension obligation	(328)	(301)
Effect of decrease in actuarial assumption on defined benefit pension obligation	326	302
Pension schemes | UK defined benefit plans | Mortality rate | Longevity swap
Effect of a change in the significant actuarial assumptions used to determine the retirement benefits obligations
Effect of increase in actuarial assumption on defined benefit pension obligation, covered by longevity swap		210
Effect of decrease in actuarial assumption on defined benefit pension obligation, covered by longevity swap		(210)
Pension schemes | Rest of Group defined benefit plans | US | Discount rate
Effect of a change in the significant actuarial assumptions used to determine the retirement benefits obligations
Effect of increase in actuarial assumption on defined benefit pension obligation	91	78
Effect of decrease in actuarial assumption on defined benefit pension obligation	(97)	(83)
Pension schemes | Rest of Group defined benefit plans | US | Mortality rate
Effect of a change in the significant actuarial assumptions used to determine the retirement benefits obligations
Effect of increase in actuarial assumption on defined benefit pension obligation	(30)	(24)
Effect of decrease in actuarial assumption on defined benefit pension obligation	30	24
Pension schemes | Rest of Group defined benefit plans | SWEDEN | Discount rate
Effect of a change in the significant actuarial assumptions used to determine the retirement benefits obligations
Effect of increase in actuarial assumption on defined benefit pension obligation	183	152
Effect of decrease in actuarial assumption on defined benefit pension obligation	(211)	(174)
Pension schemes | Rest of Group defined benefit plans | SWEDEN | Inflation rate
Effect of a change in the significant actuarial assumptions used to determine the retirement benefits obligations
Effect of increase in actuarial assumption on defined benefit pension obligation	(203)	(171)
Effect of decrease in actuarial assumption on defined benefit pension obligation	176	151
Pension schemes | Rest of Group defined benefit plans | SWEDEN | Rate of increase in salaries
Effect of a change in the significant actuarial assumptions used to determine the retirement benefits obligations
Effect of increase in actuarial assumption on defined benefit pension obligation	(68)	(52)
Effect of decrease in actuarial assumption on defined benefit pension obligation	63	48
Pension schemes | Rest of Group defined benefit plans | SWEDEN | Mortality rate
Effect of a change in the significant actuarial assumptions used to determine the retirement benefits obligations
Effect of increase in actuarial assumption on defined benefit pension obligation	(85)	(68)
Effect of decrease in actuarial assumption on defined benefit pension obligation	$ 84	$ 68

Reserves (Details)

Reserves (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of reserves within equity [line items]
Goodwill written off	$ 614	$ 619	$ 631
Retained earnings.
Disclosure of reserves within equity [line items]
Number of shares deducted from retained earnings	(907,239)	(456,792)	(476,504)
Amount of shares deducted from retained earnings	$ (37)	$ (22)	$ (22)

Reserves - Reconciliation (Deta

Reserves - Reconciliation (Details) € in Millions, £ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2019EUR (€)	Dec. 31, 2019GBP (£)	Dec. 31, 2019USD ($)	Dec. 31, 2018EUR (€)	Dec. 31, 2018USD ($)	Dec. 31, 2017EUR (€)	Dec. 31, 2017USD ($)	Dec. 31, 1999USD ($)	Dec. 31, 1993GBP (£)
Disclosure of reserves within equity [line items]
Foreign exchange arising on consolidation	$ 40	$ (450)	$ 536
Foreign exchange arising on designating borrowings in net investment hedges	(252)	(520)	505
Fair value movements on derivatives designated in net investment hedges	35	(8)	(48)
Foreign exchange arising on net investment hedges	(5)
Borrowings						$ 18,227		$ 19,113		$ 17,807
Foreign exchange change arising on contingent consideration liabilities	(247)
Derivative financial instruments						$ 36		$ 258		$ 28
Other reserves
Disclosure of reserves within equity [line items]
Reserves from cancellation of share premium account | £												£ 1,255
Reserve from redenomination of share capital											$ 157
Foreign currency translation reserve
Disclosure of reserves within equity [line items]
Reserve of cash flow hedges | £					£ 565
Retained earnings.
Disclosure of reserves within equity [line items]
Cumulative translation differences included within retained earnings, beginning balance	(2,007)	(1,017)	(2,028)
Foreign exchange arising on consolidation	40	(450)	536
Exchange adjustments on goodwill (recorded against other reserves)	(5)	(12)	18
Foreign exchange arising on designating borrowings in net investment hedges	(252)	(520)	505
Fair value movements on derivatives designated in net investment hedges	35	(8)	(48)
Net exchange movement in retained earnings	(182)	(990)	1,011
Cumulative translation differences included within retained earnings, ending balance	(2,189)	$ (2,007)	$ (1,017)
Acerta Pharma
Disclosure of reserves within equity [line items]
Foreign exchange change arising on contingent consideration liabilities	(83)
BMS's share of Global Diabetes Alliance
Disclosure of reserves within equity [line items]
Foreign exchange change arising on contingent consideration liabilities	(174)
Almirall
Disclosure of reserves within equity [line items]
Foreign exchange change arising on contingent consideration liabilities	11
Definiens Group
Disclosure of reserves within equity [line items]
Foreign exchange change arising on contingent consideration liabilities	(1)
5.75% Non-callable bond
Disclosure of reserves within equity [line items]
Interest rate on borrowings				5.75%	5.75%	5.75%	5.75%	5.75%	5.75%	5.75%
0.875% Non-callable bond
Disclosure of reserves within equity [line items]
Borrowings | €				€ 750			€ 750		€ 750
Interest rate on borrowings				0.875%	0.875%	0.875%	0.875%	0.875%	0.875%	0.875%
Instruments designated in cash flow hedge | Cross currency swaps
Disclosure of reserves within equity [line items]
Loss on cost of hedging	$ 47

Share capital of the Company (D

Share capital of the Company (Details)	Apr. 02, 2019USD ($)shares	Dec. 31, 2019GBP (£)£ / sharesshares	Dec. 31, 2019USD ($)shares	Dec. 31, 2018USD ($)shares	Dec. 31, 2017USD ($)shares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018GBP (£)£ / sharesshares	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017GBP (£)£ / sharesshares	Dec. 31, 2017USD ($)$ / sharesshares
Disclosure of classes of share capital [line items]
Par value per share | $ / shares						$ 0.25		$ 0.25		$ 0.25
Issued capital	$ 11,000,000					$ 328,000,000		$ 317,000,000		$ 317,000,000
Share premium						$ 7,941,000,000		$ 4,427,000,000		$ 4,393,000,000
Number of years without shareholder contact		12 years	12 years
Proceeds from sale of untraced shares			$ 10,000,000	$ 0	$ 0
Unclaimed dividends forfeited and adjusted for in retained earnings		£ 4,000,000	$ 4,000,000	$ 2,000,000	$ 0
Number of shares in the Company held by subsidiaries | shares		0				0	0	0	0	0
Ordinary shares
Disclosure of classes of share capital [line items]
Par value per share | $ / shares						$ 0.25		$ 0.25		$ 0.25
Issued capital						$ 328,000,000		$ 317,000,000		$ 317,000,000
Number of shares outstanding at beginning of period | shares		1,267,039,436	1,267,039,436	1,266,221,605	1,265,229,424
Issue of shares (share placing) | shares	44,386,214	44,386,214	44,386,214
Issues of shares (share schemes) | shares		712,326	712,326	817,831	992,181
Number of shares outstanding at end of period | shares		1,312,137,976	1,312,137,976	1,267,039,436	1,266,221,605
Share premium	$ 3,479,000,000
Shares repurchased			$ 0	$ 0	$ 0
Preference shares
Disclosure of classes of share capital [line items]
Par value per share | £ / shares		£ 1					£ 1		£ 1
Issued capital | £		£ 50,000					£ 50,000		£ 50,000
Days of written noticed required		7 days	7 days

Dividends to shareholders (Deta

Dividends to shareholders (Details) $ / shares in Units, £ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019GBP (£)	Dec. 31, 2019USD ($)$ / shares	Dec. 31, 2018USD ($)$ / shares	Dec. 31, 2017USD ($)$ / shares
Dividends to shareholders
Final | $		$ 2,403	$ 2,402	$ 2,404
Interim | $		1,180	1,139	1,139
Total | $		$ 3,583	$ 3,541	$ 3,543
Final | $ / shares		$ 1.90	$ 1.90	$ 1.90
Interim | $ / shares		0.90	0.90	0.90
Total | $ / shares		$ 2.80	$ 2.80	$ 2.80
Period of time unclaimed dividends were forfeited	12 years	12 years
Unclaimed dividends forfeited and adjusted for in retained earnings	£ 4	$ 4	$ 2	$ 0

Dividends to shareholders - Div

Dividends to shareholders - Dividends Paid (Details) - USD ($) $ / shares in Units, $ in Millions	Mar. 19, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Dividends to shareholders
Dividends paid (per share)	$ 1.90
Dividends charged to equity		$ 3,583	$ 3,541	$ 3,543
Exchange losses/(gain) on payment of dividend		5	10	(4)
Hedge contracts relating to dividend payments		4	(67)	(20)
Dividends paid		$ 3,592	$ 3,484	$ 3,519

Non-controlling (Details)

Non-controlling (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of subsidiaries [line items]
Equity	$ 14,596	$ 14,044	$ 16,642	$ 16,669
Total comprehensive losses	107	106	133
Total Revenue	24,384	22,090	22,465
(Loss)/profit after tax	1,227	2,050	2,868
Other comprehensive income	(611)	(1,059)	639
Total comprehensive income for the period	616	991	3,507
Non-current assets	45,814	45,060	50,204
Current assets	15,563	15,591	13,150
Total assets	61,377	60,651	63,354
Current liabilities	(18,117)	(16,292)	(16,383)
Non-current liabilities	(28,664)	(30,315)	(30,329)
Total liabilities	46,781	46,607	46,712
Net assets	14,596	14,044	16,642
Net cash inflow/(outflow) from operating activities	2,969	2,618	3,578
Net cash (outflow)/inflow from investing activities	(657)	963	(2,328)
Net cash inflow/(outflow) from financing activities	(1,765)	(2,044)	(2,936)
Acerta Pharma
Disclosure of subsidiaries [line items]
Equity	1,456	1,567	1,676
Total comprehensive losses	111	109	132
(Loss)/profit after tax	(422)	(9)	412
Total comprehensive income for the period	(422)	(9)	412
Non-current assets	157	16	3
Current assets	475	526	904
Total assets	632	542	907
Current liabilities	(310)	(63)	(417)
Non-current liabilities	(267)
Total liabilities	577	63	417
Net assets	55	479	490
Net cash inflow/(outflow) from operating activities	(13)	7	5
Net cash (outflow)/inflow from investing activities	7	(4)
Net cash inflow/(outflow) from financing activities	7
Increase/(decrease) in cash and cash equivalents in the year	1	3	5
Non-controlling interests.
Disclosure of subsidiaries [line items]
Equity	1,469	1,576	1,682	$ 1,815
(Loss)/profit after tax	(108)	(105)	$ (133)
Other comprehensive income	$ 1	$ (1)

Financial risk management obj_3

Financial risk management objectives and policies - Hedge accounting (Details) € in Millions, ¥ in Millions, £ in Millions, ¥ in Billions	1 Months Ended	12 Months Ended
	Sep. 30, 2019USD ($)JPY (¥)	Dec. 31, 2019USD ($)JPY (¥)CNY (¥)EUR (€)GBP (£)	Dec. 31, 2018USD ($)JPY (¥)CNY (¥)EUR (€)GBP (£)	Dec. 31, 2017USD ($)JPY (¥)CNY (¥)EUR (€)GBP (£)
Disclosure of detailed information about hedges
Borrowings		$ 18,227,000,000	$ 19,113,000,000	$ 17,807,000,000
Hedging instrument
Total carrying value		18,227,000,000	19,113,000,000	17,807,000,000
Hedged item
Net cash inflow		194,000,000	405,000,000	(345,000,000)
Instruments in a fair value hedge relationship
Hedging instrument
Total carrying value		339,000,000	346,000,000	900,000,000
Hedged item
Hedge ineffectiveness for the period		3,000,000	(3,000,000)
Instruments designated in cash flow hedge
Hedging instrument
Total carrying value		$ 2,447,000,000	$ 2,495,000,000	$ 2,602,000,000
Investments in foreign operations
Hedging instrument
Nominal amounts in local currency | £				350
Investments in foreign operations | Group's GBP denominated net assets
Hedging instrument
Nominal amounts in local currency | £		350	350
Total carrying value		$ 457,000,000	$ 443,000,000	$ 468,000,000
Opening balance		265,000,000	240,000,000	281,000,000
Fair value (gain)/loss deferred to OCI		14,000,000	(25,000,000)	41,000,000
Closing balance		$ 251,000,000	$ 265,000,000	$ 240,000,000
Average pay interest rate		5.75%	5.75%	5.75%
Investments in foreign operations | Group's EUR denominated net assets
Hedging instrument
Nominal amounts in local currency | €		450	450	450
Total carrying value		$ 498,000,000	$ 508,000,000	$ 586,000,000
Opening balance		(44,000,000)	(65,000,000)
Fair value (gain)/loss deferred to OCI		(10,000,000)	(21,000,000)	65,000,000
Closing balance		$ (34,000,000)	$ (44,000,000)	$ (65,000,000)
Average pay interest rate		0.88%	0.88%	0.88%
Investments in foreign operations | Transactions Matured pre 2017
Hedging instrument
Opening balance			$ 338,000,000	$ 338,000,000
Closing balance				338,000,000
Investments in foreign operations | Transactions Matured pre 2018
Hedging instrument
Opening balance		$ 338,000,000	338,000,000
Closing balance			338,000,000	$ 338,000,000
Investments in foreign operations | Transactions Matured pre 2019
Hedging instrument
Opening balance		356,000,000
Closing balance		$ 356,000,000	$ 356,000,000
Contingent consideration | Investments in foreign operations
Hedging instrument
Nominal amounts in local currency		5,583,000,000	6,015,000,000	6,379,000,000
Total carrying value		$ 5,583,000,000	$ 6,015,000,000	$ 6,379,000,000
Opening balance		(1,805,000,000)	(1,239,000,000)	(1,850,000,000)
Fair value (gain)/loss deferred to OCI		248,000,000	566,000,000	(611,000,000)
Closing balance		$ (2,053,000,000)	$ (1,805,000,000)	$ (1,239,000,000)
Interest rate swaps | Instruments in a fair value hedge relationship | Group's EUR denominated net assets
Hedging instrument
Nominal amounts in local currency | €		300	300	300
Interest rate swaps | Instruments in a fair value hedge relationship | Group's EUR denominated net assets | Floating rate
Hedging instrument
Adjustment to interest rate basis		1.27%	1.27%	1.27%
Interest rate swaps | Instruments designated in cash flow hedge | Group's EUR denominated net assets
Hedging instrument
Nominal amounts in local currency | €		2,200	2,200	2,200
Average pay interest rate		2.69%	2.69%	2.69%
Interest rate swaps | Investments in foreign operations | Group's JPY denominated net assets
Hedging instrument
Nominal amounts in local currency | ¥	58.5		58.5	58.5
Average pay interest rate			0.35%	0.35%
Interest rate swaps | Investments in foreign operations | Group's CNY denominated net assets
Hedging instrument
Nominal amounts in local currency | ¥		458
Average pay interest rate		4.80%
Interest rate swaps one | Investments in foreign operations | Group's JPY denominated net assets
Hedging instrument
Nominal amounts in local currency | ¥	58.5	58.5
Average pay interest rate		0.35%
Hedged item
Net cash inflow	$ 209,000,000
Interest rate swaps one | Investments in foreign operations | Group's CNY denominated net assets
Hedging instrument
Nominal amounts in local currency | ¥			458	458
Average pay interest rate			4.80%	4.80%
Interest rate swaps two | Investments in foreign operations | Group's JPY denominated net assets
Hedging instrument
Nominal amounts in local currency | ¥		58.3
Average pay interest rate		1.53%
Interest rate swaps two | Investments in foreign operations | Group's CNY denominated net assets
Hedging instrument
Nominal amounts in local currency | ¥			919	919
Average pay interest rate			3.12%	3.12%
Cross currency swaps | Instruments in a fair value hedge relationship | Group's EUR denominated net assets
Hedging instrument
Total carrying value		$ 10,000,000	$ 16,000,000	$ 31,000,000
Average USD FX rate		1.09	1.09	1.09
Cross currency swaps | Instruments designated in cash flow hedge | Group's EUR denominated net assets
Hedging instrument
Total carrying value			$ 101,000,000	$ 197,000,000
Total carrying value		$ 13,000,000
Opening balance		92,000,000	76,000,000	80,000,000
Fair value (gain)/loss deferred to OCI		114,000,000	95,000,000	(311,000,000)
Fair value (gain)/loss recycled to the income statement		(52,000,000)	(111,000,000)	315,000,000
Closing balance		$ 30,000,000	$ 92,000,000	$ 76,000,000
Average USD FX rate		1.14	1.14	1.14
Cross currency swaps | Investments in foreign operations | Group's JPY denominated net assets
Hedging instrument
Total carrying value			$ 213,000,000	$ 223,000,000
Opening balance		$ 213,000,000	223,000,000	242,000,000
Fair value (gain)/loss deferred to OCI			10,000,000	19,000,000
Closing balance			$ 213,000,000	$ 223,000,000
Average USD FX rate			78.01	78.01
Cross currency swaps | Investments in foreign operations | Group's CNY denominated net assets
Hedging instrument
Total carrying value		1,000,000
Opening balance		(4,000,000)
Fair value (gain)/loss deferred to OCI		(3,000,000)
Closing balance		$ (1,000,000)	$ (4,000,000)
Average USD FX rate		6.68
Cross currency swap one | Investments in foreign operations | Group's JPY denominated net assets
Hedging instrument
Opening balance		$ 213,000,000
Fair value (gain)/loss deferred to OCI		4,000,000
Closing balance		$ 209,000,000	213,000,000
Average USD FX rate		78.01
Cross currency swap one | Investments in foreign operations | Group's CNY denominated net assets
Hedging instrument
Total carrying value			4,000,000	$ 4,000,000
Opening balance		$ (4,000,000)	(4,000,000)	7,000,000
Fair value (gain)/loss deferred to OCI				11,000,000
Closing balance			$ (4,000,000)	$ (4,000,000)
Average USD FX rate			6.68	6.68
Cross currency swap two | Investments in foreign operations | Group's JPY denominated net assets
Hedging instrument
Total carrying value		4,000,000
Fair value (gain)/loss deferred to OCI		(4,000,000)
Closing balance		$ 4,000,000
Average USD FX rate		108.03
Cross currency swap two | Investments in foreign operations | Group's CNY denominated net assets
Hedging instrument
Total carrying value				$ 12,000,000
Opening balance		$ 18,000,000	$ 12,000,000	29,000,000
Fair value (gain)/loss deferred to OCI			(6,000,000)	17,000,000
Closing balance			$ 18,000,000	$ 12,000,000
Average USD FX rate			6.09	6.09

Financial risk management obj_4

Financial risk management objectives and policies - Capital management (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of financial risk management objectives and policies
Net debt position	$ 11,904	$ 13,003

Financial risk management obj_5

Financial risk management objectives and policies - Liquidity risk (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Apr. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 10, 2019	Dec. 31, 2016
Maturity analysis of financial liabilities
Cash and cash equivalents		$ 5,369	$ 4,831	$ 3,324
Short-term fixed income investments		811
Fixed deposits		38	40	80
Overdrafts		146	160	152
Committed bank facilities		4,125
Undrawn committed bank facilities		4,100
Financial instruments		48,465	49,673	48,330
Derivative financial instruments		36	27	24
Derivative financial instruments		36	258	28
Effect of interest		(8,118)	(8,929)	(8,417)
Effect of discounting, fair values and issue costs		(1,852)	(2,404)	(3,129)
Financial instruments after effects of interest and discounting, fair values and issue costs		38,495	38,340	36,784
Issue of Ordinary Shares	$ 3,490	3,525	34	43
Contingent consideration		4,139	5,106	5,534		$ 5,457
Total derivative financial instruments
Maturity analysis of financial liabilities
Derivative financial instruments		110		(116)
Effect of interest		(79)	(258)	(434)
Effect of discounting, fair values and issue costs		(74)	(126)	46
Financial instruments after effects of interest and discounting, fair values and issue costs		(43)	(384)	(504)
Interest rate swaps
Maturity analysis of financial liabilities
Derivative financial instruments		(15,718)	(13,497)	(11,064)
Effect of interest		409	251	286
Effect of discounting, fair values and issue costs		(20)	(9)	9
Financial instruments after effects of interest and discounting, fair values and issue costs		(15,329)	(13,255)	(10,769)
Cross currency swaps
Maturity analysis of financial liabilities
Derivative financial instruments		15,828	13,497	10,948
Effect of interest		(488)	(509)	(720)
Effect of discounting, fair values and issue costs		(54)	(117)	37
Financial instruments after effects of interest and discounting, fair values and issue costs		15,286	12,871	10,265
Other derivative instruments
Maturity analysis of financial liabilities
Financial instruments after effects of interest and discounting, fair values and issue costs			18	5
Total non-derivative financial instruments
Maturity analysis of financial liabilities
Non-derivative financial instruments		48,355	49,673	48,446
Effect of interest		(8,039)	(8,671)	(7,983)
Effect of discounting, fair values and issue costs		(1,778)	(2,278)	(3,175)
Financial instruments after effects of interest and discounting, fair values and issue costs		38,538	38,724	37,288
Bank overdrafts and other loans
Maturity analysis of financial liabilities
Non-derivative financial instruments		248	795	875
Effect of interest		(1)	(2)	(14)
Effect of discounting, fair values and issue costs		(3)	(17)
Financial instruments after effects of interest and discounting, fair values and issue costs		244	776	861
Bonds
Maturity analysis of financial liabilities
Non-derivative financial instruments		25,440	27,128	25,004
Effect of interest		(8,038)	(8,669)	(7,969)
Effect of discounting, fair values and issue costs		(94)	(122)	(94)
Financial instruments after effects of interest and discounting, fair values and issue costs		17,308	18,337	16,941
Lease liabilities
Maturity analysis of financial liabilities
Non-derivative financial instruments		737		5
Effect of discounting, fair values and issue costs		(62)
Financial instruments after effects of interest and discounting, fair values and issue costs		675		5
Trade and other payables
Maturity analysis of financial liabilities
Non-derivative financial instruments		21,930	21,750	22,562
Effect of discounting, fair values and issue costs		(1,619)	(2,139)	(3,081)
Financial instruments after effects of interest and discounting, fair values and issue costs		20,311	19,611	19,481
Due within one year
Maturity analysis of financial liabilities
Committed bank facilities		500
Undrawn committed bank facilities		2,000
Due within one year | Amount before effects
Maturity analysis of financial liabilities
Financial instruments		16,729	15,235	14,713
Due within one year | Total derivative financial instruments | Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments		29	(197)	24
Due within one year | Interest rate swaps | Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments		(11,956)	(10,368)	(6,996)
Due within one year | Cross currency swaps | Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments		11,985	10,171	7,020
Due within one year | Total non-derivative financial instruments | Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments		16,700	15,432	14,689
Due within one year | Bank overdrafts and other loans | Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments		234	774	859
Due within one year | Bonds | Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments		2,207	1,629	1,985
Due within one year | Lease liabilities | Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments		205		5
Due within one year | Trade and other payables | Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments		14,054	13,029	11,840
Years 1 and 2
Maturity analysis of financial liabilities
Committed bank facilities		250
Undrawn committed bank facilities		200
Years 1 and 2 | Amount before effects
Maturity analysis of financial liabilities
Financial instruments		3,932	3,952	3,338
Years 1 and 2 | Total derivative financial instruments | Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments		21	47	(202)
Years 1 and 2 | Interest rate swaps | Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments		(955)	(35)	(803)
Years 1 and 2 | Cross currency swaps | Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments		976	82	601
Years 1 and 2 | Total non-derivative financial instruments | Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments		3,911	3,905	3,540
Years 1 and 2 | Bank overdrafts and other loans | Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments		14	7
Years 1 and 2 | Bonds | Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments		1,970	2,210	1,564
Years 1 and 2 | Lease liabilities | Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments		158
Years 1 and 2 | Trade and other payables | Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments		1,769	1,688	1,976
Years 2 and 3
Maturity analysis of financial liabilities
Committed bank facilities		3,375
Undrawn committed bank facilities		500
Years 2 and 3 | Amount before effects
Maturity analysis of financial liabilities
Financial instruments		3,751	2,873	3,771
Years 2 and 3 | Total derivative financial instruments | Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments		13	24	41
Years 2 and 3 | Interest rate swaps | Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments		(54)	(950)	(39)
Years 2 and 3 | Cross currency swaps | Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments		67	974	80
Years 2 and 3 | Total non-derivative financial instruments | Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments		3,738	2,849	3,730
Years 2 and 3 | Bank overdrafts and other loans | Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments			14
Years 2 and 3 | Bonds | Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments		1,810	2,002	2,144
Years 2 and 3 | Lease liabilities | Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments		117
Years 2 and 3 | Trade and other payables | Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments		1,811	833	1,586
Years 3 and 4
Maturity analysis of financial liabilities
Undrawn committed bank facilities		3,400
Years 3 and 4 | Amount before effects
Maturity analysis of financial liabilities
Financial instruments		3,752	5,181	5,233
Years 3 and 4 | Total derivative financial instruments | Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments		13	28	(23)
Years 3 and 4 | Interest rate swaps | Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments		(54)	(30)	(994)
Years 3 and 4 | Cross currency swaps | Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments		67	58	971
Years 3 and 4 | Total non-derivative financial instruments | Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments		3,739	5,153	5,256
Years 3 and 4 | Bank overdrafts and other loans | Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments				16
Years 3 and 4 | Bonds | Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments		2,068	1,813	2,000
Years 3 and 4 | Lease liabilities | Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments		79
Years 3 and 4 | Trade and other payables | Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments		1,592	3,340	3,240
Years 4 and 5 | Amount before effects
Maturity analysis of financial liabilities
Financial instruments		3,209	2,873	2,873
Years 4 and 5 | Total derivative financial instruments | Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments		28	28	25
Years 4 and 5 | Interest rate swaps | Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments		(1,051)	(30)	(34)
Years 4 and 5 | Cross currency swaps | Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments		1,079	58	59
Years 4 and 5 | Total non-derivative financial instruments | Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments		3,181	2,845	2,848
Years 4 and 5 | Bonds | Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments		1,479	2,069	1,736
Years 4 and 5 | Lease liabilities | Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments		50
Years 4 and 5 | Trade and other payables | Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments		1,652	776	1,112
Later than five years | Amount before effects
Maturity analysis of financial liabilities
Financial instruments		17,092	19,559	18,402
Later than five years | Total derivative financial instruments | Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments		6	70	19
Later than five years | Interest rate swaps | Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments		(1,648)	(2,084)	(2,198)
Later than five years | Cross currency swaps | Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments		1,654	2,154	2,217
Later than five years | Total non-derivative financial instruments | Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments		17,086	19,489	18,383
Later than five years | Bonds | Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments		15,906	17,405	15,575
Later than five years | Lease liabilities | Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments		128
Later than five years | Trade and other payables | Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments		1,052	$ 2,084	$ 2,808
Floating rate committed bank loan agreement
Maturity analysis of financial liabilities
Committed bank facilities					$ 500
Euro medium term note programme
Maturity analysis of financial liabilities
Debt instruments issued		3,741
SEC registered programme
Maturity analysis of financial liabilities
Debt instruments issued		$ 13,568

Financial risk management obj_6

Financial risk management objectives and policies - Market risk (Details) $ in Millions	Dec. 31, 2019USD ($)item	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Disclosure of financial instruments by interest rate
Borrowings	$ 18,227	$ 19,113	$ 17,807
Total financial liabilities	18,227	19,113	17,807
Cash and cash equivalents	5,369	4,831	3,324
Fixed deposits	38	40	80
Instruments in a fair value hedge relationship
Disclosure of financial instruments by interest rate
Total financial liabilities	$ 339	$ 346	$ 900
7% Guaranteed debentures
Disclosure of financial instruments by interest rate
Interest rate on borrowings	7.00%	7.00%	7.00%
1.75% Callable bond
Disclosure of financial instruments by interest rate
Interest rate on borrowings			1.75%
Interest rate swaps
Disclosure of financial instruments by interest rate
Notional amount	$ 288
Current financial liabilities	$ 2,010	$ 1,754	$ 2,247
Number of contracts | item	0
Non-current financial liabilities	$ 16,217	17,359	15,560
Total financial liabilities	18,227	19,113	17,807
Cash and cash equivalents	5,369	4,831	3,324
Fixed deposits	38	40	80
Total financial assets	5,407	4,871	3,404
Current and non-current asset investments and other financial assets.	6,765	6,195	6,366
Current and non-current asset investments and other financial assets on which no interest is received	6,654
Interest rate swaps | Fixed rate
Disclosure of financial instruments by interest rate
Current financial liabilities	1,785	999	404
Non-current financial liabilities	14,893	16,038	14,608
Total financial liabilities	16,678	17,037	15,012
Fixed deposits		40
Total financial assets	38	40
Interest rate swaps | Floating rate
Disclosure of financial instruments by interest rate
Current financial liabilities	225	755	1,843
Non-current financial liabilities	1,324	1,321	952
Total financial liabilities	1,549	2,076	2,795
Cash and cash equivalents	5,369	4,831	3,324
Fixed deposits	38		80
Total financial assets	5,369	4,831	3,404
Current and non-current asset investments and other financial assets on which interest is received	111	$ 0	$ 0
Interest rate swaps | Instruments at fair value through profit or loss
Disclosure of financial instruments by interest rate
Notional amount	$ 288
Interest rate swaps | 7% Guaranteed debentures | Floating rate
Disclosure of financial instruments by interest rate
Interest rate on borrowings	7.00%

Financial risk management obj_7

Financial risk management objectives and policies - Market risk on equity securities (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of financial risk management objectives and policies
Equity securities at fair value through Other comprehensive income	$ 1,339	$ 833
Equity securities available for sale			$ 933
Total	$ 1,339	$ 833	$ 933

Financial risk management obj_8

Financial risk management objectives and policies - Foreign currency risk (Details) € in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019EUR (€)country	Dec. 31, 2019USD ($)country	Dec. 31, 2018EUR (€)	Dec. 31, 2018USD ($)	Dec. 31, 2017EUR (€)	Dec. 31, 2017USD ($)	Dec. 31, 2016
Foreign currency risk
Number of hyper inflationary countries | country	2	2
Borrowings		$ 18,227		$ 19,113		$ 17,807
Cash		755		$ 893		784
Increase in interest expense that would result from increased interest rate, per sensitivity analysis		$ 15
Increase/(decrease) in fair value of financial instruments ($m) due to increase in risk component						198
Impact on profit: (loss)/gain ($m) due to increase in risk component						(123)
Impact on equity: gain/(loss) ($m) due to increase in risk component						$ 321
0.875% Non-callable bond
Foreign currency risk
Borrowings | €	€ 750		€ 750		€ 750
Borrowings, interest rate	0.875%	0.875%	0.875%	0.875%	0.875%	0.875%
US
Foreign currency risk
Assumed strengthening of US currency	10.00%	10.00%
Assumed weakening of US currency	10.00%	10.00%
Assumed percentage increase	10.00%	10.00%
Assumed percentage decrease	(10.00%)	(10.00%)
All currencies except US
Foreign currency risk
Percentage of entity's revenue	67.00%
Pound sterling
Foreign currency risk
Percentage of interest-bearing loans and borrowings	3.00%	3.00%
Euro
Foreign currency risk
Percentage of interest-bearing loans and borrowings	18.00%	18.00%
Interest rates
Foreign currency risk
Changes in rates	1.00%	1.00%	1.00%	1.00%	1.00%	1.00%
Assumed percentage increase	1.00%	1.00%	1.00%	1.00%	1.00%	1.00%
Assumed percentage decrease	1.00%	1.00%	1.00%	1.00%	1.00%	1.00%
Increase/(decrease) in fair value of financial instruments ($m) due to increase in risk component		$ 1,417		$ 1,130		$ 1,329
Increase/(decrease) in fair value of financial instruments ($m) due to decrease in risk component		$ (1,521)		$ (1,267)		$ (1,293)
Exchange rates
Foreign currency risk
Changes in rates	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%
Assumed percentage increase	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%
Assumed percentage decrease	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%
Increase/(decrease) in fair value of financial instruments ($m) due to increase in risk component		$ (4)		$ (146)
Increase/(decrease) in fair value of financial instruments ($m) due to decrease in risk component		(36)		161		$ (198)
Impact on profit: (loss)/gain ($m) due to increase in risk component		(174)		(299)
Impact on profit: (loss)/gain ($m) due to decrease in risk component		172		348		123
Impact on equity: gain/(loss) ($m) due to increase in risk component		170		153
Impact on equity: gain/(loss) ($m) due to decrease in risk component		$ (208)		$ (187)		$ (321)

Financial risk management obj_9

Financial risk management objectives and policies - Credit risk (Details) $ in Millions	Jan. 01, 2018USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2019USD ($)customeritem	Dec. 31, 2018USD ($)customeritem	Jan. 01, 2018USD ($)	Dec. 31, 2017USD ($)customeritem
Credit risk
Number of wholesaler | customer					1	1		0
Number of fund managers for money market securities | item					5
Maximum percentage the Company's investments represent of each overall fund value					10.00%
Third-party collateralised investments as a percentage of cash deposited		106.00%
Collateralised investments held by third-party custodian					$ 401	$ 403		$ 1,151
Number of fund managers for fixed income securities | item					4
Current assets
Cash at bank and in hand					$ 755	893		784
Other short-term equivalents					4,614	3,938		2,540
Cash and cash equivalents					5,369	4,831		3,324
Fixed deposits					38	40		80
Total derivative financial instruments					43	384		504
Total current assets					15,563	15,591		13,150
Non-current assets
Derivative financial instruments					61	157		504
Total non-current assets					$ 45,814	$ 45,060		$ 50,204
US
Credit risk
Number of wholesaler | item					3	3		3
Percentage of sales		94.00%	88.00%	60.00%
Trade receivables
Ageing of trade receivables
Financial assets					$ 3,585	$ 2,995		$ 2,802
Trade receivables | Not past due
Ageing of trade receivables
Financial assets					3,176	2,853		2,488
Trade receivables | Past due 0 - 90 days
Ageing of trade receivables
Financial assets					310	81		260
Trade receivables | Past due 90 - 180 days
Ageing of trade receivables
Financial assets					80	24		31
Trade receivables | Past due > 180 days
Ageing of trade receivables
Financial assets					19	37		23
Provisions for trade receivables | Trade receivables
Ageing of trade receivables
Payment profile period (in months)	36 months	36 months	36 months
Financial assets					3,606	3,033	$ 2,818
Loss allowance	$ 16	$ 21	$ 38	$ 16	$ 21	$ 38	$ 16	16
Movements in provisions for trade receivables
At 1 January	16	38	16	42
Income statement		(13)	22	(26)
Amounts utilised, exchange and other movements		(4)
At 31 December	16	21	38	$ 16
Provisions for trade receivables | Trade receivables | Not past due
Ageing of trade receivables
Expected loss rate					0.05%	0.05%	0.05%
Financial assets					$ 3,178	$ 2,854	$ 2,490
Loss allowance	1	2	1		$ 2	$ 1	$ 1
Movements in provisions for trade receivables
At 1 January		1
At 31 December	1	2	1
Provisions for trade receivables | Trade receivables | Past due 0 - 90 days
Ageing of trade receivables
Expected loss rate					0.75%	0.75%	0.75%
Financial assets					$ 312	$ 82	$ 262
Loss allowance	2	2	1		$ 2	$ 1	$ 2
Movements in provisions for trade receivables
At 1 January		1
At 31 December	2	2	1
Provisions for trade receivables | Trade receivables | Past due 90 - 180 days
Ageing of trade receivables
Expected loss rate					2.00%	10.00%	5.00%
Financial assets					$ 82	$ 27	$ 31
Loss allowance	1	2	3		$ 2	$ 3	$ 1
Movements in provisions for trade receivables
At 1 January		3
At 31 December	1	2	3
Provisions for trade receivables | Trade receivables | Past due > 180 days
Ageing of trade receivables
Expected loss rate					44.00%	47.00%	33.00%
Financial assets					$ 34	$ 70	$ 35
Loss allowance	12	15	33		15	33	$ 12
Movements in provisions for trade receivables
At 1 January		33
At 31 December	$ 12	$ 15	$ 33
Counterparty credit risk
Current assets
Cash at bank and in hand					755	893		784
Money market liquidity fund					4,110	3,435		1,150
Collateralised repurchase agreements					400	400		1,150
Other short-term equivalents					104	103		240
Cash and cash equivalents					5,369	4,831		3,324
Fixed income securities at fair value through profit and loss					811	809
Fixed income securities available for sale								1,150
Fixed deposits					38	40		80
Total derivative financial instruments					36	258		28
Total current assets					6,254	5,938		4,582
Non-current assets
Fixed income securities at fair value through profit and loss					62
Derivative financial instruments					61	157		504
Total non-current assets					$ 123	$ 157		$ 504

Financial risk management ob_10

Financial risk management objectives and policies - Other financial assets (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of financial risk management objectives and policies
Cash collateral on financial derivatives	$ 71	$ 384	$ 513
Cash collateral posted by the group	$ 10	$ 14

Employee costs and share plan_3

Employee costs and share plans for employees, Employee numbers (Details) - employee	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of geographical location
Average number of employees	67,300	63,200	60,000
Number of employees	70,600	64,600	61,100
UK
Disclosure of geographical location
Average number of employees	7,400	7,200	6,900
Europe
Disclosure of geographical location
Average number of employees	15,500	14,800	14,500
The Americas
Disclosure of geographical location
Average number of employees	16,600	16,700	16,300
Asia, Africa And Australasia
Disclosure of geographical location
Average number of employees	27,800	24,500	22,300

Employee costs and share plan_4

Employee costs and share plans for employees, Employee costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Employee costs and share plans for employees
Salaries	$ 5,648	$ 5,370	$ 5,004
Social security costs	658	626	570
Pension costs	491	469	378
Other employment costs	771	505	534
Total employee benefits expense	7,568	6,970	6,486
Severance costs	$ 158	$ 94	$ 225

Employee costs and share plan_5

Employee costs and share plans for employees, Bonus plans (Details)	12 Months Ended
	Dec. 31, 2019personplan
AstraZeneca Deferred Bonus Plan
Bonus plans
Deferral period for bonus	3 years
AstraZeneca Sweden Bonus Plan
Bonus plans
Percentage of bonuses paid into fund investing	50.00%
Percentage of bonuses paid in cash	50.00%
AstraZeneca U.S. Bonus Plans
Bonus plans
Number of all-employee short-term or annual performance bonus plans	2
Number of senior staff long-term incentive schemes	1
Number of participants that may be eligible for awards granted | person	123

Employee costs and share plan_6

Employee costs and share plans for employees, Share-based payments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Employee costs and share plans for employees
Share-based payments equity settled	$ 259	$ 219	$ 220

Employee costs and share plan_7

Employee costs and share plans for employees, AstraZeneca UK All Employee Share Plan (Details) - AstraZeneca UK All Employee Share Plan	12 Months Ended
	Dec. 31, 2019GBP (£)shares
Share plans
Threshold for employee investment in ordinary shares of entity | £	£ 150
Number of shares awarded for every four shares purchased | shares	1

Employee costs and share plan_8

Employee costs and share plans for employees, AstraZeneca 2014 Performance Share Plan (Details) - AstraZeneca 2014 Performance Share Plan EquityInstruments in Thousands	1 Months Ended										12 Months Ended
	Nov. 30, 2019GBP (£)EquityInstruments	Aug. 31, 2019GBP (£)EquityInstruments	May 31, 2019GBP (£)EquityInstruments	Mar. 31, 2019GBP (£)EquityInstruments	Aug. 31, 2018GBP (£)EquityInstruments	May 31, 2018GBP (£)EquityInstruments	Mar. 31, 2018GBP (£)EquityInstruments	Aug. 31, 2017GBP (£)EquityInstruments	May 31, 2017GBP (£)EquityInstruments	Mar. 31, 2017GBP (£)EquityInstruments	Dec. 31, 2014	Nov. 30, 2019USD ($)	Aug. 31, 2019USD ($)	May 31, 2019USD ($)	Mar. 31, 2019USD ($)	Aug. 31, 2018USD ($)	May 31, 2018USD ($)	Mar. 31, 2018USD ($)	Aug. 31, 2017USD ($)	May 31, 2017USD ($)	Mar. 31, 2017USD ($)
Share plans
Plan term											10 years
Period of wait time until awards granted vest											3 years
Number of shares awarded	13	79	5	2,899	92	18	3,400	44	10	2,359
Weighted average fair value	£ 36.63	£ 36.40	£ 29.18	£ 31.44	£ 29.82	£ 26.51	£ 24.27	£ 22.34	£ 26.07	£ 24.40		$ 47.42	$ 44.28	$ 37.77	$ 42	$ 38.46	$ 36.42	$ 34.62	$ 29.11	$ 34.20	$ 30.88
Director
Share plans
Additional holding period that can be subject to achievement of performance conditions											2 years

Employee costs and share plan_9

Employee costs and share plans for employees, AstraZeneca Investment Plan (Details) - AstraZeneca Investment Plan	1 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2018
Share plans
Period of wait time until awards granted vest	8 years
Percentage of awards vest after fifth anniversary from grant date		50.00%
Maximum
Share plans
Period of performance conditions	4 years

Employee costs and share pla_10

Employee costs and share plans for employees, AstraZeneca Global Restricted Stock Plan (Details) - AstraZeneca Global Restricted Stock Plan EquityInstruments in Thousands	1 Months Ended
	Nov. 30, 2019GBP (£)EquityInstruments	Aug. 31, 2019GBP (£)EquityInstruments	May 31, 2019GBP (£)EquityInstruments	Mar. 31, 2019GBP (£)EquityInstruments	Nov. 30, 2018GBP (£)EquityInstruments	Aug. 31, 2018GBP (£)EquityInstruments	Mar. 31, 2018GBP (£)EquityInstruments	Nov. 30, 2017GBP (£)EquityInstruments	Aug. 31, 2017GBP (£)EquityInstruments	May 31, 2017GBP (£)EquityInstruments	Mar. 31, 2017GBP (£)EquityInstruments	Nov. 30, 2019USD ($)	Aug. 31, 2019USD ($)	May 31, 2019USD ($)	Mar. 31, 2019USD ($)	Nov. 30, 2018USD ($)	Aug. 31, 2018USD ($)	Mar. 31, 2018USD ($)	Nov. 30, 2017USD ($)	Aug. 31, 2017USD ($)	May 31, 2017USD ($)	Mar. 31, 2017USD ($)
Share plans
Number of shares awarded	2	114	1	4,527	3	40	4,474	77	31	78	2,502
Weighted average fair value	£ 73.26	£ 72.80	£ 58.35	£ 62.87	£ 63	£ 59.64	£ 48.53	£ 49.42	£ 44.68	£ 52.14	£ 48.80	$ 94.84	$ 88.56	$ 75.54	$ 84	$ 82.86	$ 76.92	$ 69.24	$ 66.24	$ 58.22	$ 68.40	$ 61.76

Employee costs and share pla_11

Employee costs and share plans for employees, AstraZeneca Restricted Share Plan (Details) - AstraZeneca Restricted Share Plan EquityInstruments in Thousands	1 Months Ended														12 Months Ended
	Nov. 30, 2019GBP (£)EquityInstruments	Aug. 31, 2019GBP (£)EquityInstruments	May 31, 2019GBP (£)EquityInstruments	Mar. 31, 2019GBP (£)EquityInstruments	Nov. 30, 2018GBP (£)EquityInstruments	Aug. 31, 2018GBP (£)EquityInstruments	May 31, 2018GBP (£)EquityInstruments	Mar. 31, 2018GBP (£)EquityInstruments	Nov. 30, 2017GBP (£)EquityInstruments	Sep. 30, 2017GBP (£)EquityInstruments	Aug. 31, 2017GBP (£)EquityInstruments	May 31, 2017GBP (£)EquityInstruments	Mar. 31, 2017GBP (£)EquityInstruments	Feb. 28, 2017GBP (£)EquityInstruments	Dec. 31, 2019employeemultiple	Nov. 30, 2019USD ($)	Aug. 31, 2019USD ($)	May 31, 2019USD ($)	Mar. 31, 2019USD ($)	Nov. 30, 2018USD ($)	Aug. 31, 2018USD ($)	May 31, 2018USD ($)	Mar. 31, 2018USD ($)	Nov. 30, 2017USD ($)	Sep. 30, 2017USD ($)	Aug. 31, 2017USD ($)	May 31, 2017USD ($)	Mar. 31, 2017USD ($)	Feb. 28, 2017USD ($)
Share plans
Number of shares awarded | EquityInstruments	105	56	25	95	38	37	45	148	23	31	26	8	134	205
Weighted average fair value	£ 73.26	£ 72.80	£ 58.35	£ 62.87	£ 63	£ 59.64	£ 53.01	£ 48.53	£ 49.42	£ 47.65	£ 44.68	£ 52.14	£ 48.80	£ 42.93		$ 94.84	$ 88.56	$ 75.54	$ 84	$ 82.86	$ 76.92	$ 72.84	$ 69.24	$ 66.24	$ 65.60	$ 58.22	$ 68.40	$ 61.76	$ 55.50
Number of times plan used to make awards in specified year | multiple															4
Number of employees granted awards | employee															87

Employee costs and share pla_12

Employee costs and share plans for employees, AstraZeneca Extended Incentive Plan (Details) - Astrazeneca Extended Incentive Plan	1 Months Ended
	Nov. 30, 2019GBP (£)USD ($)	Aug. 31, 2019GBP (£)USD ($)	Nov. 30, 2019USD ($)	Aug. 31, 2019USD ($)
Share plans
Number of shares awarded	20,000	24,000
Weighted average fair value	£ 73.26	£ 72.80	$ 94.84	$ 88.56

Commitments and contingent li_3

Commitments and contingent liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Commitments
Contracts placed for future capital expenditure on property, plant and equipment and software development costs not provided for in these accounts	$ 396	$ 586	$ 570

Commitments and contingent li_4

Commitments and contingent liabilities, Research and development (Details) $ in Millions	Dec. 31, 2019USD ($)
Future potential research and development milestone payments
Commitments and contingent liabilities
Effect of potential milestone payments	$ 9,956
Future potential revenue milestone payments
Commitments and contingent liabilities
Effect of potential milestone payments	6,654
Due within one year | Future potential research and development milestone payments
Commitments and contingent liabilities
Effect of potential milestone payments	438
Due within one year | Future potential revenue milestone payments
Commitments and contingent liabilities
Effect of potential milestone payments	59
Years 1 and 2 | Future potential research and development milestone payments
Commitments and contingent liabilities
Effect of potential milestone payments	1,479
Years 1 and 2 | Future potential revenue milestone payments
Commitments and contingent liabilities
Effect of potential milestone payments	138
Years 3 and 4 | Future potential research and development milestone payments
Commitments and contingent liabilities
Effect of potential milestone payments	1,581
Years 3 and 4 | Future potential revenue milestone payments
Commitments and contingent liabilities
Effect of potential milestone payments	818
Years 5 and greater | Future potential research and development milestone payments
Commitments and contingent liabilities
Effect of potential milestone payments	6,458
Years 5 and greater | Future potential revenue milestone payments
Commitments and contingent liabilities
Effect of potential milestone payments	$ 5,639

Commitments and contingent li_5

Commitments and contingent liabilities, Environmental costs (Details) $ in Millions	Dec. 31, 2019USD ($)site	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Commitments and contingent liabilities
Provisions	$ 1,564	$ 891	$ 1,468	$ 1,418
Environmental costs and liabilities | Minimum
Commitments and contingent liabilities
Estimated financial effect of contingent liabilities	86	71	87
Environmental costs and liabilities | Maximum
Commitments and contingent liabilities
Estimated financial effect of contingent liabilities	143	118	144
Environmental
Commitments and contingent liabilities
Provisions	$ 96	$ 97	$ 59	$ 59
Zeneca, Inc. | Environmental costs and liabilities
Commitments and contingent liabilities
Number of sites likely to incur future environmental investigation or consequences | site	13

Commitments and contingent li_6

Commitments and contingent liabilities, Legal proceedings (Details) $ in Millions	1 Months Ended		12 Months Ended
	Oct. 31, 2019patent	Jul. 31, 2016patent	Dec. 31, 2019USD ($)item	Dec. 31, 2016patent	Jan. 14, 2019item	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Aug. 31, 2017lawsuit
Commitments and contingent liabilities
Amortised cost of the option liability | $			$ 2,146			$ 1,838	$ 1,823
Canada
Commitments and contingent liabilities
Number of class action lawsuits | lawsuit								3
Number of class action lawsuits representing individuals in Canada | lawsuit								2
US
Commitments and contingent liabilities
Number of jurisdictions named as defendant in lawsuits | item			2
Number of pharmaceutical manufacturers in an US. Congressional inquiry | item					11
U.S. District Court For District Of New Jersey | Faslodex
Commitments and contingent liabilities
Number of patents infringed or potentially infringed | patent	4			4
Number of claims settled | patent		1

Commitments and contingent li_7

Commitments and contingent liabilities, Tax (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Commitments and contingent liabilities
Tax contingency related to transfer pricing audits included in tax accrual	$ 140
Decrease in tax contingency related to transfer pricing	72
Maximum amount of possible additional losses, transfer pricing	76	$ 357	$ 30
Other tax contingencies included in tax accrual	887
Increase in other tax contingencies included in tax accrual	157
Maximum amount of possible additional losses, other tax contingencies	327	$ 253
Accrued interest	$ 90
Minimum
Commitments and contingent liabilities
Anticipated number of years significant disputes may be resolved	1 year
Maximum
Commitments and contingent liabilities
Anticipated number of years significant disputes may be resolved	2 years

Statutory and other informati_3

Statutory and other information, Audit fees (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Auditor's remuneration
Fees related to prior year group audit and audit of subsidiaries	$ 700	$ 3,200
Related party transactions
Short-term employee benefits	31,329	32,523	$ 28,274
Post-employment benefits	1,766	2,387	2,469
Share-based payments	19,210	23,605	16,452
Total key management personnel compensation	52,305	58,515	47,195
Pricewaterhouse Coopers LLP
Auditor's remuneration
Group audit fee	3,900	3,800	3,000
The audit of subsidiaries pursuant to legislation	8,300	9,400	5,700
Attestation under s404 of Sarbanes-Oxley Act 2002	2,000	2,000	2,000
Audit-related assurance services	300	800	400
Tax compliance services		100
Other assurance services	100	900
The audit of subsidiaries pension schemes	300	400
Total auditor's remuneration	$ 14,900	$ 17,400	$ 11,100

Subsequent events (Details)

Subsequent events (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Jan. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Subsequent events
Impairment		$ 1,033	$ 683	$ 491
Products in development | Epanova
Subsequent events
Impairment		533
Provision for inventory and supply-related costs		$ 115
Sale of Rights and Participate | Number of Established Hypertension Medicines
Subsequent events
Upfront payment to be received	$ 350
Estimated future sales-contingent payments	40
Sale of a proportion of equity portfolio
Subsequent events
Consideration received	$ 184

Group Subsidiaries and Holdings

Group Subsidiaries and Holdings (Details)	12 Months Ended
	Dec. 31, 2019
AAPM Sarl
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Astrazeneca S.A. Argentina
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Holdings Pty Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca PTY Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Pharmaceutical Manufacturing Company Pty Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Pharmaceutical Manufacturing Division Pty Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Osterreich GmbH
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca S.A. / N.V.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca do Brasil Limitada
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Bulgaria EOOD
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Canada Inc.1
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AZ Reinsurance Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Astrazeneca S.A. Chile
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Farmaceutica Chile Limitada
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Pharmaceuticals Co., Limited.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca (Wuxi) Trading Co. Ltd
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Investment (China) Co. Ltd
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Pharmaceutical (China)Co. Ltd
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Pharmaceuticals Technologies (Beijing) Co., Ltd.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Colombia S.A.S.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca CAMCAR Costa Rica, S.A.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca d.o.o.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Czech Republic, s.r.o.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca A/S
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Egypt for Pharmaceutical Industries JSC
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Egypt for Trading LLC
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Drimex LLC
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Eesti OU
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca OY.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca S.A.S.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Finance S.A.S.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Holding France S.A.S.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Dunkerque Production SCS
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Astrazeneca Holding GmbH
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca GmbH
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Sofotec GmbH
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Definiens AG
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca S.A. Greece
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Hong Kong Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Kft
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Astrazeneca India Private Limited 3
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Pars Company
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Pharmaceuticals (Ireland) Designated Activity Company
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Israel Ltd
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Simesa SpA
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca SpA
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca K.K.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Pharmaceuticals Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Latvija SIA
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Lietuva UAB
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Luxembourg S.A.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Asia-Pacific Business Services Sdn Bhd
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Sdn Bhd
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca, S.A. de C.V.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Health Care Division, S.A. de C.V.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Maroc SARLAU
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca B.V.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Continent B.V.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Gamma B.V.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Holdings B.V.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Jota B.V.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Rho B.V.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Sigma B.V.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Astrazeneca Treasury B. V.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Zeta B.V.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
MedImmune Pharma B.V.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Nigeria Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca AS
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Astrazeneca Pharmaceuticals Pakistan (Private) Limited 4
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca CAMCAR, S.A.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Peru S.A.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Pharmaceuticals (Phils.) Inc.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Pharma Poland Sp.z.o.o.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Astra Alpha Produtos Farmaceuticos Lda
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Produtos Farmaceuticos Lda
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Novastra Promocao e Comercio Farmaceutico Lda
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Novastuart Produtos Farmaceuticos Lda
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Stuart-Produtos Farmaceuticos Lda
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Zeneca Epsilon - Produtos Farmaceuticos Lda
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Zenecapharma Produtos Farmaceuticos Lda
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
IPR Pharmaceuticals, Inc.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Pharma S.R.L.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Industries, LLC
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Pharmaceuticals, LLC
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Singapore Pte Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Pharmaceuticals (Pty) Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Korea Co. Ltd
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Farmaceutica Spain S.A.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Farmaceutica Holding Spain, S.A.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Laboratorio Beta, S.A.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Laboratorio Lailan, S.A.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Laboratorio Odin, S.A.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Laboratorio Tau S.A.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Astra Export & Trading Aktiebolag
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Astra Lakemedel Aktiebolag
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca AB
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Biotech AB
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca BioVentureHub AB
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Astrazeneca Holding Aktiebolag
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Astrazeneca International Holdings Aktiebolag
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Nordic AB
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Pharmaceuticals Aktiebolag
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Sodertalje 2 AB
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Stuart Pharma Aktiebolag
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Tika Lakemedel Aktiebolag
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Aktiebolaget Hassle
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Symbicom Aktiebolag
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Astra Tech International Aktiebolag
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca AG
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Spirogen Sarl
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Astrazeneca Taiwan Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca (Thailand) Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Tunisie SaRL
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Ilac Sanayi ve Ticaret Limited Sirketi
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Zeneca Ilac Sanayi Ve Ticaret Anonim Sirketi
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Ukraina LLC
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca FZ-LLC
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Ardea Biosciences Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Arrow Therapeutics Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Astra Pharmaceuticals Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Astrapharm
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca China UK Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Death In Service Trustee Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Employee Share Trust Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Finance Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Astrazeneca Intermediate Holdings Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Investments Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Japan Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Nominees Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Quest Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Share Trust Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Sweden Investments Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Astrazeneca Treasury Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca UK Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Astrazeneca Us Investments Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AZENCO2 Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AZENCO4 Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Cambridge Antibody Technology Group Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
KuDOS Horsham Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
KuDOS Pharmaceuticals Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Zenco (No 8) Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Zeneca Finance (Netherlands) Company
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
MedImmune Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
MedImmune U.K. Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Amylin Ohio LLC
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Amylin Pharmaceuticals LLC
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Collaboration Ventures LLC
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Pharmaceuticals, LP
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Atkemix Nine Inc.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Atkemix Ten Inc.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
BMS Holdco Inc.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Corpus Christi Holdings Inc.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Omthera Pharmaceuticals, Inc.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Optein Inc
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Stauffer Management Company, LLC
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Zeneca Holdings Inc.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Zeneca, Inc.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Zeneca Wilmington Inc
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
ZS Pharma Inc.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Alphacore Pharma LLC
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AZ-Mont Insurance Company
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Definiens Inc.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
MedImmune, LLC
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
MedImmune Ventures, Inc.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Pearl Therapeutics, Inc.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca S.A. Uruguay
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
AstraZeneca Venezuela S.A.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Gotland Pharma S.A.
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
Astrazeneca Vietnam Company Limited
Subsidiaries
Percentage of equity owned in subsidiaries	100.00%
SPA AstraZeneca Al Djazair
Subsidiaries
Percentage of equity owned in subsidiaries	65.77%
AstraZeneca Pharma India Limited
Subsidiaries
Percentage of equity owned in subsidiaries	75.00%
P.T. AstraZeneca Indonesia
Subsidiaries
Percentage of equity owned in subsidiaries	95.00%
Acerta Pharma B.V.
Subsidiaries
Percentage of equity owned in subsidiaries	55.00%
Aspire Therapeutics B.V.
Subsidiaries
Percentage of equity owned in subsidiaries	55.00%
Acerta Pharma LLC
Subsidiaries
Percentage of equity owned in subsidiaries	55.00%

Group Subsidiaries and Holdin_2

Group Subsidiaries and Holdings - Joint Venture (Details)	Dec. 01, 2015	Apr. 30, 2014	Dec. 31, 2019
WuXi MedImmune Biopharmaceutical Co. Limited
Less than 100% Subsidiaries and Joint Ventures
Effective percentage of equity owned in joint ventures			50.00%
Archigen Biotech Limited
Less than 100% Subsidiaries and Joint Ventures
Effective percentage of equity owned in joint ventures		50.00%	50.00%
Centus Biotherapeutics Limited
Less than 100% Subsidiaries and Joint Ventures
Effective percentage of equity owned in joint ventures	50.00%		50.00%
Montrose Chemical Corporation of California
Less than 100% Subsidiaries and Joint Ventures
Effective percentage of equity owned in joint ventures			50.00%

Group Subsidiaries and Holdin_3

Group Subsidiaries and Holdings - Associates and Equity Investments at FVOCI (Details)	12 Months Ended
	Dec. 31, 2019
Armaron Bio Ltd
Significant and associate holdings
Effective percentage of ownership interest in equity investment accounted for as FVOCI	22.07%
Dizal (Jiangsu) Pharmaceutical Co., Ltd.
Significant and associate holdings
Effective percentage of ownership interest in equity investment accounted for as FVOCI	43.60%
Apollo Therapeutics LLP7
Significant and associate holdings
Effective percentage of ownership interest in equity investment accounted for as FVOCI	25.00%
C.C.Global Chemicals Company
Significant and associate holdings
Effective percentage of ownership interest in equity investment accounted for as FVOCI	37.50%
Viela Bio, Inc.
Significant and associate holdings
Effective percentage of ownership interest in equity investment accounted for as FVOCI	28.75%
Sweden Orphan Biovitrum AB
Significant and associate holdings
Effective percentage of ownership interest in equity investment accounted for as FVOCI	8.06%
ADC Therapeutics Sarl
Significant and associate holdings
Effective percentage of ownership interest in equity investment accounted for as FVOCI	6.66%
Circassia Pharmaceuticals PLC
Significant and associate holdings
Effective percentage of ownership interest in equity investment accounted for as FVOCI	18.90%
AbMed Corporation
Significant and associate holdings
Effective percentage of ownership interest in equity investment accounted for as FVOCI	18.00%
Aevi Genomic Medicine Inc
Significant and associate holdings
Effective percentage of ownership interest in equity investment accounted for as FVOCI	16.70%
Affinita Biotech Inc.
Significant and associate holdings
Effective percentage of ownership interest in equity investment accounted for as FVOCI	16.23%
Aristea Therapeutics, Inc.
Significant and associate holdings
Effective percentage of ownership interest in equity investment accounted for as FVOCI	15.00%
Baergic Bio Inc
Significant and associate holdings
Effective percentage of ownership interest in equity investment accounted for as FVOCI	19.95%
Corvidia Corporation
Significant and associate holdings
Effective percentage of ownership interest in equity investment accounted for as FVOCI	12.00%
Entasis Therapeutics Limited
Significant and associate holdings
Effective percentage of ownership interest in equity investment accounted for as FVOCI	16.29%
Moderna Therapeutics Inc.
Significant and associate holdings
Effective percentage of ownership interest in equity investment accounted for as FVOCI	7.65%
PhaseBio Pharmaceuticals, Inc.
Significant and associate holdings
Effective percentage of ownership interest in equity investment accounted for as FVOCI	10.44%