AstraZeneca (AZN) 20-F22 Feb 222021 FY Annual report (foreign)Financial data

Company Profile

Document and Entity Information

Document and Entity Information	12 Months Ended
Document and Entity Information	Dec. 31, 2021shares
Document and Entity Information
Entity Registrant Name	ASTRAZENECA PLC
Entity Central Index Key	0000901832
Document Type	20-F
Document Period End Date	Dec. 31, 2021
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2021
Entity File Number	001-11960
Incorporation Country Code	X0
Entity Address, Address Line One	1 Francis Crick Avenue
Entity Address, Address Line Two	Cambridge Biomedical Campus
Entity Address, City or Town	Cambridge
Entity Address, Country	GB
Entity Address, Postal Zip Code	CB2 0AA
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 Accounting Standard	International Financial Reporting Standards
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Entity Interactive Data Current	Yes
ICFR Auditor Attestation Flag	true
Auditor Name	PricewaterhouseCoopers LLP
Auditor Firm ID	876
Auditor Location	London, United Kingdom
Business Contact [Member]
Document and Entity Information
Entity Registrant Name	AstraZeneca PLC
Contact Personnel Name	Adrian Kemp
Entity Address, Address Line One	1 Francis Crick Avenue
Entity Address, Address Line Two	Cambridge Biomedical Campus
Entity Address, City or Town	Cambridge
Entity Address, Country	GB
Entity Address, Postal Zip Code	CB2 0AA
City Area Code	44 20
Local Phone Number	3749 5000
Ordinary shares
Document and Entity Information
Title of 12(b) Security	American Depositary Shares, each representing one half of an Ordinary Share of 25¢ each
Trading Symbol	AZN
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding	1,549,400,665
Preference shares
Document and Entity Information
Entity Common Stock, Shares Outstanding	50,000
2.375% Notes due 2022
Document and Entity Information
Title of 12(b) Security	2.375% Notes due 2022
Trading Symbol	AZN 22A
Security Exchange Name	NASDAQ
Floating Rate Notes due 2022
Document and Entity Information
Title of 12(b) Security	Floating Rate Notes due 2022
Trading Symbol	AZN 22B
Security Exchange Name	NASDAQ
3.500% Notes due 2023
Document and Entity Information
Title of 12(b) Security	3.500% Notes due 2023
Trading Symbol	AZN 23
Security Exchange Name	NASDAQ
7.000% Notes due 2023
Document and Entity Information
Title of 12(b) Security	7.000% Notes due 2023
Trading Symbol	AZN / 23
Security Exchange Name	NASDAQ
Floating Rate Notes due 2023
Document and Entity Information
Title of 12(b) Security	Floating Rate Notes due 2023
Trading Symbol	AZN 23A
Security Exchange Name	NASDAQ
0.300% Notes due 2023
Document and Entity Information
Title of 12(b) Security	0.300% Notes due 2023
Trading Symbol	AZN 23B
Security Exchange Name	NASDAQ
0.700% Notes due 2024
Document and Entity Information
Title of 12(b) Security	0.700% Notes due 2024
Trading Symbol	AZN 24
Security Exchange Name	NASDAQ
3.375% Notes due 2025
Document and Entity Information
Title of 12(b) Security	3.375% Notes due 2025
Trading Symbol	AZN 25
Security Exchange Name	NASDAQ
0.700% Notes due 2026
Document and Entity Information
Title of 12(b) Security	0.700% Notes due 2026
Trading Symbol	AZN 26
Security Exchange Name	NASDAQ
1.200% Notes due 2026
Document and Entity Information
Title of 12(b) Security	1.200% Notes due 2026
Trading Symbol	AZN 26A
Security Exchange Name	NASDAQ
3.125% Notes due 2027
Document and Entity Information
Title of 12(b) Security	3.125% Notes due 2027
Trading Symbol	AZN 27A
Security Exchange Name	NASDAQ
1.750% Notes due 2028
Document and Entity Information
Title of 12(b) Security	1.750% Notes due 2028
Trading Symbol	AZN 28
Security Exchange Name	NASDAQ
4.000% Notes due 2029
Document and Entity Information
Title of 12(b) Security	4.000% Notes due 2029
Trading Symbol	AZN 29
Security Exchange Name	NASDAQ
1.375% Notes due 2030
Document and Entity Information
Title of 12(b) Security	1.375% Notes due 2030
Trading Symbol	AZN 30
Security Exchange Name	NASDAQ
2.250% Notes due 2031
Document and Entity Information
Title of 12(b) Security	2.250% Notes due 2031
Trading Symbol	AZN 31
Security Exchange Name	NASDAQ
6.450% Notes due 2037
Document and Entity Information
Title of 12(b) Security	6.450% Notes due 2037
Trading Symbol	AZN 37
Security Exchange Name	NASDAQ
4.000% Notes due 2042
Document and Entity Information
Title of 12(b) Security	4.000% Notes due 2042
Trading Symbol	AZN 42
Security Exchange Name	NASDAQ
4.375% Notes due 2045
Document and Entity Information
Title of 12(b) Security	4.375% Notes due 2045
Trading Symbol	AZN 45
Security Exchange Name	NASDAQ
4.375% Notes due 2048
Document and Entity Information
Title of 12(b) Security	4.375% Notes due 2048
Trading Symbol	AZN 48
Security Exchange Name	NASDAQ
2.125% Notes due 2050
Document and Entity Information
Title of 12(b) Security	2.125% Notes due 2050
Trading Symbol	AZN 50
Security Exchange Name	NASDAQ
3.000% Notes due 2051
Document and Entity Information
Title of 12(b) Security	3.000% Notes due 2051
Trading Symbol	AZN 51
Security Exchange Name	NASDAQ

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - USD ($) shares in Millions, $ in Millions		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Consolidated Statement of Comprehensive Income
Product Sales		$ 36,541	$ 25,890	$ 23,565
Collaboration Revenue		876	727	819
Total Revenue		37,417	26,617	24,384
Cost of sales		(12,437)	(5,299)	(4,921)
Gross Profit		24,980	21,318	19,463
Distribution costs		(446)	(399)	(339)
Research and development expense		(9,736)	(5,991)	(6,059)
Selling, general and administrative expense		(15,234)	(11,294)	(11,682)
Other operating income and expense		1,492	1,528	1,541
Operating Profit		1,056	5,162	2,924
Finance income		43	87	172
Finance expense		(1,300)	(1,306)	(1,432)
Share of after tax losses in associates and joint ventures		(64)	(27)	(116)
(Loss)/profit before tax		(265)	3,916	1,548
Taxation		380	(772)	(321)
Profit for the period		115	3,144	1,227
Other comprehensive income:
Remeasurement of the defined benefit pension liability		626	(168)	(364)
Net (losses)/gains on equity investments measured at fair value through other comprehensive income		(187)	938	(28)
Fair value movements related to own credit risk on bonds designated as fair value through profit and loss			(1)	(5)
Tax on items that will not be reclassified to profit or loss		105	(81)	21
Total other comprehensive income that will not be reclassified to profit or loss, net of tax		544	688	(376)
Foreign exchange arising on consolidation		(483)	443	40
Foreign exchange arising on designated borrowings in net investment hedges		(321)	573	(252)
Fair value movements on cash flow hedges		(167)	180	(101)
Fair value movements on cash flow hedges transferred to profit and loss		208	(254)	52
Fair value movements on derivatives designated in net investment hedges		34	8	35
(Costs)/gains of hedging		(6)	9	(47)
Tax on items that may be reclassified subsequently to profit or loss		46	(39)	38
Other comprehensive (loss)/income that may be reclassified to profit or loss, net of tax		(689)	920	(235)
Other comprehensive (loss)/income for the period, net of tax	[1]	(145)	1,608	(611)
Total comprehensive (loss)/income for the period		(30)	4,752	616
Profit attributable to:
Owners of the Parent		112	3,196	1,335
Non-controlling interests		3	(52)	(108)
Total comprehensive (loss)/income attributable to:
Owners of the Parent		(33)	4,804	723
Non-controlling interests		3	(52)	(107)
Total comprehensive (loss)/income for the period		$ (30)	$ 4,752	$ 616
Basic earnings per $0.25 Ordinary Share		$ 0.08	$ 2.44	$ 1.03
Diluted earnings per $0.25 Ordinary Share		$ 0.08	$ 2.44	$ 1.03
Weighted average number of Ordinary Shares in issue (millions		1,418	1,312	1,301
Diluted weighted average number of Ordinary Shares in issue (millions)		1,427	1,313	1,301

[1]	Included within Other comprehensive loss of $145 m (2020: income of $1,608 m; 2019: loss of $611 m) is a charge of $6 m (2020: gain of $9 m; 2019: charge of $47 m), relating to Costs of hedging.

Consolidated Statement of Com_2

Consolidated Statement of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Consolidated Statement of Comprehensive Income
Par value per ordinary share	$ 0.25
Dividends declared and paid in the period	$ 3,882	$ 3,668	$ 3,579

Consolidated Statement of Finan

Consolidated Statement of Financial Position - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Non-current assets
Property, plant and equipment	$ 9,183	$ 8,251	$ 7,688
Right-of-use assets	988	666	647
Goodwill	19,997	11,845	11,668
Intangible assets	42,387	20,947	20,833
Investments in associates and joint ventures	69	39	58
Other investments	1,168	1,108	1,401
Derivative financial instruments	102	171	61
Other receivables	895	720	740
Deferred tax assets	4,330	3,438	2,718
Total non-current assets	79,119	47,185	45,814
Current assets
Inventories	8,983	4,024	3,193
Trade and other receivables	9,644	7,022	5,761
Other investments	69	160	849
Derivative financial instruments	83	142	36
Intangible assets	105
Income tax receivable	663	364	285
Cash and cash equivalents	6,329	7,832	5,369
Assets held for sale	368	0	70
Total current assets	26,244	19,544	15,563
Total assets	105,363	66,729	61,377
Current liabilities
Interest-bearing loans and borrowings	(1,660)	(2,194)	(1,822)
Lease liabilities	(233)	(192)	(188)
Trade and other payables	(18,938)	(15,785)	(13,987)
Derivative financial instruments	(79)	(33)	(36)
Provisions	(768)	(976)	(723)
Income tax payable	(916)	(1,127)	(1,361)
Current liabilities	(22,594)	(20,307)	(18,117)
Non-current liabilities
Interest-bearing loans and borrowings	(28,134)	(17,505)	(15,730)
Lease liabilities	(754)	(489)	(487)
Derivative financial instruments	(45)	(2)	(18)
Deferred tax liabilities	(6,206)	(2,918)	(2,490)
Retirement benefit obligations	(2,454)	(3,202)	(2,807)
Provisions	(956)	(584)	(841)
Other payables	(4,933)	(6,084)	(6,291)
Total non-current liabilities	(43,482)	(30,784)	(28,664)
Total liabilities	(66,076)	(51,091)	(46,781)
Net assets	39,287	15,638	14,596
Equity
Share capital	387	328	328
Share premium account	35,126	7,971	7,941
Capital redemption reserve	153	153	153
Merger reserve	448	448	448
Other reserves	1,444	1,423	1,445
Retained earnings	1,710	5,299	2,812
Total equity attributable to owners of parent	39,268	15,622	13,127
Non-controlling interests	19	16	1,469
Total equity	$ 39,287	$ 15,638	$ 14,596

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	Non-controlling interests	Total
Equity at beginning 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	[1]						54	54		54
Profit for the period							1,335	1,335	(108)	1,227
Other comprehensive income/(loss)	[2]						(612)	(612)	1	(611)
Transfer to other reserves	[3]					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
Profit for the period							3,196	3,196	(52)	3,144
Other comprehensive income/(loss)	[2]						1,608	1,608		1,608
Transfer to other reserves	[3],[4]					(22)	1,423	1,401	(1,401)
Dividends							(3,668)	(3,668)		(3,668)
Issue of Ordinary Shares			30					30		30
Share-based payments charge for the period							277	277		277
Settlement of share plan awards							(349)	(349)		(349)
Net movement			30			(22)	2,487	2,495	(1,453)	1,042
Equity at end of period at Dec. 31, 2020		328	7,971	153	448	1,423	5,299	15,622	16	15,638
Profit for the period							112	112	3	115
Other comprehensive income/(loss)	[2]						(145)	(145)		(145)
Transfer to other reserves	[3]					21	(21)
Dividends							(3,882)	(3,882)		(3,882)
Issue of Ordinary Shares		59	27,155					27,214		27,214
Share-based payments charge for the period							615	615		615
Issue of replacement Alexion share awards upon acquisition	[5]						513	513		513
Settlement of share plan awards							(781)	(781)		(781)
Net movement	[6]	59	27,155			21	(3,589)	23,646	3	23,649
Equity at end of period at Dec. 31, 2021		$ 387	$ 35,126	$ 153	$ 448	$ 1,444	$ 1,710	$ 39,268	$ 19	$ 39,287

[1]	The Group adopted IFRIC 23 ‘Uncertainty over Income Tax Treatments’ from 1 January 2019. The cumulative effect of initially applying the interpretation was recognised as a decrease 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.
[2]	Included within Other comprehensive loss of $145 m (2020: income of $1,608 m; 2019: loss of $611 m) is a charge of $6 m (2020: gain of $9 m; 2019: charge of $47 m), relating to Costs of hedging.
[3]	Amounts charged or credited to other reserves relate to exchange adjustments arising on goodwill.
[4]	The non-controlling interests reserve relating to the minority shareholders of Acerta Pharma, totalling $1,401 m, was reclassified into Retained earnings in 2020 (see Note 26).
[5]	Replacement share awards were issued as part of the acquisition of Alexion in 2021 (see Note 27).
[6]	As part of the acquisition of Alexion in July 2021, a pre-existing non-controlling interest in Caelum Biosciences was recognised (Note 27). This was valued at $150 m, the agreed exercise price for the exclusive option to acquire the remaining equity. The option was exercised on 28 September 2021 and the acquisition of Caelum Biosciences closed shortly thereafter on 5 October 2021.

Consolidated Statement of Cha_2

Consolidated Statement of Changes in Equity (Parenthetical) $ in Millions	Jan. 01, 2019USD ($)
IFRIC 23 \| Changes in accounting policy required by IFRSs
Decrease in income tax payable	$ (51)
Decrease in trade and other payables	(3)
Increase in retained earnings	$ 54

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities
(Loss)/profit before tax	$ (265)	$ 3,916	$ 1,548
Finance income and expense	1,257	1,219	1,260
Share of after tax losses of associates and joint ventures	64	27	116
Depreciation, amortisation and impairment	6,530	3,149	3,762
Increase in trade and other receivables	(961)	(739)	(898)
Decrease/(increase) in inventories	1,577	(621)	(316)
(Decrease)/increase in trade and other payables and provisions	1,405	1,721	868
Gains on disposal of intangible assets	(513)	(1,030)	(1,243)
Gains on disposal of investments in associates and joint ventures	(776)
Fair value movements on contingent consideration arising from business combinations	14	(272)	(614)
Non-cash and other movements	95	(276)	378
Cash generated from operations	8,427	7,094	4,861
Interest paid	(721)	(733)	(774)
Tax paid	(1,743)	(1,562)	(1,118)
Net cash inflow from operating activities	5,963	4,799	2,969
Cash flows from investing activities
Acquisition of subsidiaries, net of cash acquired	(9,263)
Payments upon vesting of employee share awards attributable to business combinations	(211)
Payment of contingent consideration from business combinations	(643)	(822)	(709)
Purchase of property, plant and equipment	(1,091)	(961)	(979)
Disposal of property, plant and equipment	13	106	37
Purchase of intangible assets	(1,109)	(1,645)	(1,481)
Disposal of intangible assets	587	951	2,076
Movement in profit participation liability	20	40	150
Purchase of non-current asset investments	(184)	(119)	(13)
Disposal of non-current asset investments	9	1,381	18
Movement in short-term investments, fixed deposits and other investing instruments	96	745	194
Payments to associates and joint ventures	(92)	(8)	(74)
Disposal of investments in associates and joint ventures	776
Interest received	34	47	124
Net cash outflow from investing activities	(11,058)	(285)	(657)
Net cash (outflow)/inflow before financing activities	(5,095)	4,514	2,312
Cash flows from financing activities
Proceeds from issue of share capital	29	30	3,525
Issue of loans and borrowings	12,929	2,968	500
Repayment of loans and borrowings	(4,759)	(1,609)	(1,500)
Dividends paid	(3,856)	(3,572)	(3,592)
Hedge contracts relating to payment of dividends	(29)	(101)	4
Repayment of obligations under leases	(240)	(207)	(186)
Movement in short-term borrowings	(276)	288	(516)
Payments to acquire non-controlling interests	(149)
Net cash inflow/(outflow) from financing activities	3,649	(2,203)	(1,765)
Net (decrease)/increase in cash and cash equivalents in the period	(1,446)	2,311	547
Cash and cash equivalents at the beginning of the period	7,546	5,223	4,671
Exchange rate effects	(62)	12	5
Cash and cash equivalents at the end of the period	6,038	7,546	5,223
Cash and cash equivalents	$ 6,329	$ 7,832	$ 5,369

Group Accounting Policies

Group Accounting Policies	12 Months Ended
Group Accounting Policies	Dec. 31, 2021
Group Accounting Policies
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 UK-adopted International Accounting Standards and with the requirements of the Companies Act 2006 as applicable to companies reporting under those standards. The Consolidated Financial Statements also comply fully with International Financial Reporting Standards (IFRSs) as issued by the International Accounting Standards Board (IASB) and International Accounting Standards as adopted by the European Union. 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. UK-adopted International Accounting Standards On 31 December 2020, EU-adopted IFRS was brought into UK law and became UK-adopted International Accounting Standards, with future changes to IFRS being subject to endorsement by the UK Endorsement Board. The Consolidated Financial Statements transitioned to UK-adopted International Accounting Standards for financial periods beginning 1 January 2021. This change constitutes a change in accounting framework. However, there is no impact on recognition, measurement or disclosure in the period reported as a result of the change in framework. IFRS 9, IFRS 7 The replacement of benchmark interest rates such as LIBOR and other interbank offered rates (IBORs) is a priority for global regulators. Phase 2 amendments to IFRS 9 ‘Financial Instruments’ and IFRS 7 ‘Financial Instruments: Disclosures’ were issued in August 2021 and have been adopted by the Group for 2021 reporting. As at 31 December 2021, the Group held instruments totalling $1,439m that reference USD LIBOR but will either have matured or will have their last LIBOR fixings set before the relevant USD LIBORs cease publication on 30 June 2023. These instruments include floating rate bonds, interest rate swaps and other arrangements. The Group also has $4bn of term bank loans that currently reference US LIBOR but these agreements have a mandatory switch from US LIBOR to an alternative risk free rate on 30 June 2023, should the Group not elect to do so before that date. Basis for preparation of Financial Statements on a going concern basis The Group has considerable financial resources available. As at 31 December 2021, the Group has $11.2bn in financial resources (cash and cash equivalent balances of $6.3bn and undrawn committed bank facilities of $4.9bn available until April 2025 with only $1.9bn of borrowings due within one year). All facilities contain no financial covenants and were undrawn at 31 December 2021. The Directors have considered the impact of COVID-19 on AstraZeneca’s operations and mitigations to these risks. Overall, the impact of these items would heighten certain risks, such as those relating to the delivery of the pipeline or launch of new medicines, the execution of AstraZeneca’s commercial strategy, the manufacturing and supply of medicines and reliance on third-party goods and services. The Group is continuously monitoring, and mitigating where possible, impacts of these risks. The Group’s revenues are largely derived from sales of medicines 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 some of our significant markets. The Group, however, anticipates new revenue streams from both recently launched medicines and those 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 139 and Note 1 on page 145 > expensing of internal development expenses – see Research and Development Policy on page 140 > impairment reviews of Intangible assets – see Note 10 on page 156 > useful economic life of Intangible assets – see Research and Development Policy on page 140 and Note 10 on page 156 > business combinations and Goodwill (and Contingent consideration arising from business combinations) – see Business Combinations and Goodwill Policy on page 142, Note 10 on page 156, Note 20 on page 166 and Note 27 on page 178 > litigation liabilities – see Litigation and Environmental Liabilities within Note 30 on page 189 > operating segments – see Note 6 on page 152 > employee benefits – see Note 22 on page 168 > taxation – see Taxation Policy on page 141 and Note 30 on page 189. AstraZeneca has assessed the impact of the uncertainty presented by the COVID-19 pandemic on the Financial Statements, specifically considering the impact on key judgements and significant estimates along with several other areas of increased risk. A detailed assessment has been performed, focusing on the following areas: > recoverable value of goodwill, intangible assets and property, plant and equipment > impact on key assumptions used to estimate contingent consideration liabilities > key assumptions used in estimating the Group’s defined benefit pension obligations > basis for estimating clinical trial accruals > key assumptions used in estimating rebates and chargebacks for US Product Sales > valuations of unlisted equity investments > expected credit losses associated with changes in credit risk relating to trade and other receivables > net realisable value of inventories > fair value of certain financial instruments > recoverability of deferred tax assets > effectiveness of hedge relationships. No material accounting impacts relating to the areas assessed above were recognised in the year. The Group will continue to monitor these areas of increased judgement, estimation and risk for material changes. The Group has assessed the impact of climate risk on its financial reporting. The impact assessment was primarily focused on the valuation and useful lives of intangible assets and the identification and valuation of provisions and contingent liabilities, as these are judged to be the key areas that could be impacted by climate risks. No material accounting impacts or changes to judgements or other required disclosures were noted. Financial risk management policies are detailed in Note 28 to the Financial Statements from page 180. AstraZeneca’s management considers the following to be the most important accounting policies in the context of the Group’s operations. Revenue Revenue comprises 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. Revenue excludes 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 not 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 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. Contracts relating to the supply of Vaxzevria 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 sharing of profit 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 sharing of profit 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 cumulative 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 that is licensed as part of the arrangement, 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 licenced. 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 co-collaborator sharing of profit arising from collaborations, and foreign exchange gains and losses arising from business trading activities. Research and development Research expenditure is charged to profit and loss 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 2021, 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 with reference to the expiry of associated patents for the product, expectation around the competitive environment specific to the product and our detailed long-term risk-adjusted sales projections compiled annually across the Group and approved by the Board. The useful economic life can extend beyond patent expiry 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 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 156. 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 156. 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, a required rate of return 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 Operating profit. Government grants Government grants are recognised in the Consolidated Statement of Comprehensive Income so as to match with the related expenses that they are intended to compensate. Where grants are received in advance of the related expenses, they are initially recognised in the Consolidated Statement of Financial Position under Trade and other payables as deferred income and released to net off against the related expenditure when incurred. Each contract is assessed to determine whether there are both grant elements and supply of product which need to be separated. In each case, the contracts set out the specified terms for the supply of the product and the provisions for funding for certain costs, primarily research and development associated with the IP. It is considered whether there are any conditions for the funding to be refunded. The consideration in the contract is allocated between the grant and supply elements. The standalone selling price for the supply of products is determined by reference to observed prices with other customers. The amount allocated as a government grant is determined by reference to the specific agreed costs and activities identified in the contract as not directly attributable to the supply of product. Government grants are recorded as an offset to the relevant expense in the Consolidated Statement of Comprehensive Income and are capped to match the relevant costs incurred. 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 30 to the Financial Statements from page 189. Share-based payments All plans have been classified as equity settled after assessment. 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. Cash outflows relating to the vesting of share plans for our employees are recognised within operating activities, as they relate to employee remuneration. The cash flows relating to replacement awards issued to employees as part of the Alexion acquisition (see Note 27 from page 178) are classified within investing activities, as they are part of the aggregate cash flows arising from obtaining control of the subsidiary. 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 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 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 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 standalone 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 reasona

Revenue

Revenue	12 Months Ended
Revenue	Dec. 31, 2021
Revenue
Revenue	Notes to the Group Financial Statements 1 Revenue Product Sales 2021 2020 2019 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 1,336 1,780 986 913 5,015 1,208 1,566 748 806 4,328 762 1,268 474 685 3,189 Imfinzi 277 1,245 485 405 2,412 158 1,185 370 329 2,042 30 1,041 179 219 1,469 Lynparza 384 1,087 618 259 2,348 264 876 435 201 1,776 133 626 287 152 1,198 Calquence 20 1,089 111 18 1,238 6 511 2 3 522 2 162 – – 164 Koselugo 1 104 3 – 108 – 38 – – 38 – – – – – Enhertu 12 – 4 1 17 – – – – – – – – – – Orpathys 16 – – – 16 – – – – – – – – – – Zoladex 619 13 147 169 948 561 5 140 182 888 492 7 135 179 813 Faslodex 167 30 113 121 431 180 55 221 124 580 198 328 229 137 892 Iressa 151 11 5 16 183 221 14 12 21 268 286 17 70 50 423 Casodex 105 – 3 35 143 133 – 3 36 172 127 – 16 57 200 Arimidex 106 – 4 29 139 147 – 3 35 185 152 – 28 45 225 Others 29 – 5 16 50 28 – 4 19 51 29 – 5 60 94 3,223 5,359 2,484 1,982 13,048 2,906 4,250 1,938 1,756 10,850 2,211 3,449 1,423 1,584 8,667 Cardiovascular, Renal & Metabolism: Farxiga 1,195 732 810 263 3,000 686 569 507 197 1,959 471 537 373 162 1,543 Brilinta 328 735 346 63 1,472 461 732 342 58 1,593 462 710 351 58 1,581 Bydureon 3 321 55 6 385 4 382 53 9 448 11 459 66 13 549 Onglyza 179 88 61 32 360 201 166 58 45 470 176 230 70 51 527 Byetta 12 26 11 6 55 8 37 14 9 68 12 68 19 11 110 Other Diabetes 18 22 17 2 59 7 25 13 2 47 1 40 9 2 52 Lokelma 3 115 13 44 175 5 57 4 10 76 – 13 1 – 14 Roxadustat 174 – – – 174 – – – – – – – – – – Crestor 775 80 52 189 1,096 748 92 129 211 1,180 806 104 148 220 1,278 Seloken/Toprol-XL 928 1 11 11 951 782 13 16 10 821 686 37 25 12 760 Atacand 28 4 65 – 97 175 10 35 23 243 160 12 30 19 221 Others 137 – 53 6 196 126 – 57 8 191 193 (1) 59 20 271 3,780 2,124 1,494 622 8,020 3,203 2,083 1,228 582 7,096 2,978 2,209 1,151 568 6,906 Respiratory & Immunology: Symbicort 609 1,065 670 384 2,728 567 1,022 694 438 2,721 547 829 678 441 2,495 Fasenra 20 790 286 162 1,258 12 603 203 131 949 5 482 118 99 704 Pulmicort 770 72 73 47 962 798 71 73 54 996 1,190 110 81 85 1,466 Daliresp/Daxas 4 207 15 1 227 4 190 22 1 217 4 184 26 1 215 Breztri 55 115 7 26 203 14 5 – 9 28 – – – 2 2 Bevespi 4 39 11 – 54 1 44 3 – 48 – 42 – – 42 Saphnelo – 8 – – 8 – – – – – – – – – – Others 287 108 185 14 594 203 6 176 13 398 241 6 204 16 467 1,749 2,404 1,247 634 6,034 1,599 1,941 1,171 646 5,357 1,987 1,653 1,107 644 5,391 Rare Disease: Soliris 170 1,068 439 197 1,874 – – – – – – – – – – Ultomiris 9 381 169 129 688 – – – – – – – – – – Strensiq 10 297 36 35 378 – – – – – – – – – – Andexxa – 50 18 – 68 – – – – – – – – – – Kanuma 7 32 20 3 62 – – – – – – – – – – 196 1,828 682 364 3,070 – – – – – – – – – – Other: Nexium 705 128 62 431 1,326 757 169 71 495 1,492 748 218 63 454 1,483 Synagis 35 23 203 149 410 – 47 325 – 372 – 46 312 – 358 FluMist 2 27 222 2 253 1 70 219 5 295 – 20 93 – 113 Losec/Prilosec 152 1 26 1 180 152 6 20 5 183 179 10 49 25 263 Seroquel XR/ 46 12 29 5 92 55 17 29 16 117 50 34 88 19 191 Others 14 30 54 8 106 6 55 56 9 126 12 108 64 9 193 954 221 596 596 2,367 971 364 720 530 2,585 989 436 669 507 2,601 COVID-19: Vaxzevria 2,240 64 1,035 578 3,917 – – 2 – 2 – – – – – Evusheld 19 – 66 – 85 – – – – – – – – – – 2,259 64 1,101 578 4,002 – – 2 – 2 – – – – – Product Sales 12,161 12,000 7,604 4,776 36,541 8,679 8,638 5,059 3,514 25,890 8,165 7,747 4,350 3,303 23,565 Rebates and chargebacks in the US The major market where estimates are seen as significant is the US. 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 2021 was 1.5% (2020: 3.5%; 2019: 3.6%). 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 2021 of 0.4% (2020: 1.1%; 2019: 1.3%) and Managed Care and Medicare of 0.7% (2020: 1.5%; 2019: 1.9%). The adjustment in respect of the prior year net US Product sales revenue, excluding the Rare Disease disease area in 2021 was 1.8%, with Medicaid and state programmes of 0.5% and Managed Care and Medicare of 0.8%. These values demonstrate 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 2021 2020 2019 $m $m $m Royalty income 138 62 62 Global co-development and commercialisation of Lynparza Koselugo 400 460 610 Transfer of rights to Zoladex – 35 – Enhertu 193 94 – Roxadustat: share of gross profits 6 30 – Nexium: sale of rights 75 – – Licence agreement for Crestor – – 39 Co-development and commercialisation of MEDI8897 with Sanofi – – 34 Grant of authorised generic rights to various medicines in Japan – – 19 Other collaboration revenue 64 46 55 876 727 819 Collaboration Revenue includes some income that does not arise from the satisfaction of performance obligations, in particular profit share entitlements arising from product sales made by collaborators who have licenced intellectual property to AstraZeneca. $200m of Collaboration Revenue in 2021 (2020: $128m; 2019: $nil) relates to such income. Substantially all other Collaboration Revenue relates to performance obligations satisfied in prior periods.

Operating profit

Operating profit	12 Months Ended
Operating profit	Dec. 31, 2021
Other Operating Income and Expense
Operating profit	2 Operating profit Operating profit includes the following significant items: Cost of sales In 2021, Cost of sales includes a charge of $2,198m in relation to the release, in line with sales, of fair value uplift to inventory that was recognised under IFRS 3 ‘Business Combinations’ upon the acquisition of Alexion (see Note 27). During the year $290m (2020: $nil) of government grants were recognised within Cost of sales. Substantially all of the grants recognised relate to funding of manufactured Vaxzevria Selling, general and administrative expense In 2021, Selling, general and administrative expense includes a charge of $42m (2020: credit of $51m; 2019: credit of $516m) 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 2021, Selling, general and administrative expense also includes a charge of $5m (2020: credit of $143m; 2019: credit of $58m) resulting from changes in the fair value of contingent consideration arising from the acquisition of Almirall's respiratory business. These adjustments reflect revised estimates for future sales performance for the products acquired and, as a result, revised estimates for future milestones payable. In 2021, Selling, general and administrative expense also includes a charge of $48m (2020: credit of $9m; 2019: charge of $610m) relating to a number of legal proceedings including settlements in various jurisdictions in relation to several marketed products. Research and development expense: Government grants During the year $531m (2020: $222m) of government grants were recognised within Research and development expense. Substantially all of the grants recognised relate to funding for research and development and related expenses for Vaxzevria Other operating income and expense 2021 2020 2019 $m $m $m Royalties Income 63 149 146 Amortisation (1) (2) (4) Gains on disposal of intangible assets 513 1,030 1,243 Gains on disposal of investments in associates and joint ventures 776 – – Net (losses)/gains on disposal of other non-current assets (4) 25 (21) Impairment of property, plant and equipment – (12) – Other income 1 453 406 285 Other expense (308) (68) (108) Other operating income and expense 1,492 1,528 1,541 1 Other income in 2021 includes $99m of payments from Allergan in respect of the development of brazikumab (2020: $107m; 2019: $nil). Royalty amortisation relates to intangible assets recorded in respect of income streams acquired with MedImmune. Gains on disposal of intangible assets in 2021 includes $317m on disposal of rights to Crestor Gains on disposal of intangible assets in 2020 includes $350m on disposal of global rights excluding US, India and Japan to established hypertension medicines to Atnahs Pharma, $400m on disposal of rights in over 70 countries to Atacand Gains on disposal of intangible assets in 2019 includes $515m on disposal of US rights to Synagis Losec Arimidex Casodex Seroquel Seroquel XR Gains on disposal of investments in associates and joint ventures in 2021 relates to the disposal of the 26.7% ownership in Viela Bio, as part of the acquisition of Viela by Horizon Therapeutics plc. AstraZeneca received cash proceeds and profit of $776m upon closing, with the profit recorded as Other operating income. As part of the total consideration received in respect of the agreement to sell US rights to Synagis Restructuring costs In conjunction with the acquisition of Alexion, the enlarged Group has initiated a comprehensive Post Alexion Acquisition Group Review, aimed at integrating systems, structure and processes, optimising the global footprint and prioritising resource allocations and investments. These activities are expected to be substantially complete by the end of 2025, with a number of planned activities having commenced in late 2021. The Group has also continued to progress other legacy restructuring programmes, including the Global Post-Pandemic New Ways of Working programme that was initiated in 2020 in response to the changing business environment, accelerated by the COVID-19 pandemic. During 2021, the Group has incurred $1,283m of restructuring costs, of which $1,030m resulted from activities that are part of the Post Alexion Acquisition Group Review. These included $449m within Cost of sales due to the rationalisation of our manufacturing capacity and footprint across certain production sites, $161m within Research and development expense and $81m in Cost of sales due to the de-prioritisation of various development projects within the enlarged Group’s pipeline, $144m within Cost of sales in relation to the renegotiation of manufacturing capacity agreements with third parties and $98m, recognised principally in Selling, general and administrative expense, of severance payments and the associated costs of compensating those Alexion employees whose roles were eliminated due to duplication with existing AstraZeneca roles. Total restructuring costs in 2021 included impairments of property, plant and equipment ($343m) and impairments of software intangibles ($16m). 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. 2021 2020 2019 $m $m $m Cost of sales 722 53 73 Research and development expense 223 35 101 Selling, general and administrative expense 338 162 173 Other operating income and expense – 1 – Total charge 1,283 251 347 2021 2020 2019 $m $m $m Severance costs 217 26 137 Accelerated depreciation and impairment charges 1 371 17 (67) Other 2 695 208 277 Total charge 1,283 251 347 1 Included within accelerated depreciation and impairment in 2019 is a credit relating to the impairment reversal of two manufacturing sites in Colorado, US. Refer to Note 7 for further details. 2 Other costs are those incurred in designing and implementing the Group’s various restructuring initiatives, including costs of integrating systems, structure and processes as part of our Post Alexion Acquisition Group Review, costs relating to the Alexion acquisition, internal project costs and external consultancy fees. Financial instruments Included within Operating profit are the following net gains and losses on financial instruments: 2021 2020 2019 $m $m $m Losses on forward foreign exchange contracts (21) (86) (112) (Losses)/gains on receivables and payables (42) 89 66 Total (63) 3 (46) Impairment charges Details of impairment charges for 2021, 2020 and 2019 are included in Notes 7 and 10.

Finance income and expense

Finance income and expense	12 Months Ended
Finance income and expense	Dec. 31, 2021
Finance income and expense
Finance income and expense	3 Finance income and expense 2021 2020 2019 $m $m $m Finance income Returns on fixed deposits and equity securities 1 1 1 Returns on short-term deposits 11 40 122 Fair value gains on debt and interest rate swaps – 4 7 Discount unwind on other long-term assets – 6 20 Interest income on income tax balances 31 36 22 Total 43 87 172 Finance expense Interest on debt and commercial paper (700) (669) (698) Interest on overdrafts, lease liabilities and other financing costs (74) (67) (74) Net interest on post-employment defined benefit plan net liabilities (Note 22) (26) (37) (53) Net exchange losses (20) (34) (30) Discount unwind on contingent consideration arising from business combinations (Note 20) (226) (278) (356) Discount unwind on other long-term liabilities 1 (248) (219) (213) Fair value losses on debt and interest rate swaps (4) – – Interest expense on income tax balances (2) (2) (8) Total (1,300) (1,306) (1,432) Net finance expense (1,257) (1,219) (1,260) 1 Included within Discount unwind on other long-term liabilities is $161m relating to the Acerta Pharma share purchase liability (2020: $151m; 2019: $136m), see Note 20 for further details. Financial instruments Included within finance income and expense are the following net gains and losses on financial instruments: 2021 2020 2019 $m $m $m Interest and fair value adjustments in respect of debt designated at fair value through profit or loss, net of derivatives (5) (8) (12) Interest and changes in carrying values of debt designated as hedged items in fair value hedges, net of derivatives (9) (6) (10) Interest and fair value changes on fixed and short-term deposits, equity securities, other derivatives and tax balances 16 42 110 Interest on debt, commercial paper, overdrafts and lease liabilities held at amortised cost (738) (660) (662) Fair value loss of $33m (2020: gain of $33m; 2019: loss of $5m) on interest rate fair value hedging instruments and $29m fair value gain (2020: loss of $32m; 2019: gain of $8m) 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 loss of $19m (2020: gain of $2m; 2019: gain of $4m) on derivatives related to debt instruments designated at fair value through profit or loss and $19m fair value gain (2020: loss of $3m; 2019: loss of $4m) 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
Taxation	Dec. 31, 2021
Taxation
Taxation	4 Taxation Taxation recognised in the Consolidated Statement of Comprehensive Income is as follows: 2021 2020 2019 $m $m $m Current tax expense Current year 1,200 981 1,243 Adjustment to prior years (5) (10) 66 Total 1,195 971 1,309 Deferred tax expense Origination and reversal of temporary differences (1,417) (178) (875) Adjustment to prior years (158) (21) (113) Total (1,575) (199) (988) Taxation recognised in the profit for the period (380) 772 321 Taxation relating to components of Other comprehensive income is as follows: 2021 2020 2019 $m $m $m Current and deferred tax Items that will not be reclassified to profit or loss: Remeasurement of the defined benefit liability (117) 36 81 Net losses/(gains) on equity investments measured at fair value through other comprehensive income 27 (180) (60) Deferred tax (credit)/charge relating to change of tax rates 195 63 – Total 105 (81) 21 Items that may be reclassified subsequently to profit or loss: Foreign exchange arising on consolidation 57 (61) 34 Foreign exchange arising on designated borrowings in net investment hedges (19) 22 4 Deferred tax charge relating to change of tax rates 8 – – Total 46 (39) 38 Taxation relating to components of other comprehensive income 151 (120) 59 The reported tax rate in the year was 143% and reflected the favourable one-off impacts of the non-taxable divestment of the investment in Viela Bio and a reduction of tax liabilities arising from updates to estimates of prior period tax liabilities following settlements with tax authorities and on expiry of statute of limitations partially offset by a tax charge on recalculation of deferred tax balances following substantive enactment of Dutch and UK Corporation Tax rate increases. The income tax paid for the year was $1,743m. Taxation has been provided at current rates on the profits earned for the periods covered by the Group Financial Statements. The 2021 prior period current tax adjustment relates mainly to tax accrual to tax return adjustments. The 2020 prior period current tax adjustment relates mainly to net reductions in provisions for tax contingencies and tax accrual to tax return adjustments. The 2019 prior period current tax adjustments relate mainly to net increases in provisions for tax contingencies and tax accrual to tax return adjustments. The 2021 prior period deferred tax adjustments relate mainly to tax accrual to tax return adjustments and updates to estimates of prior period tax liabilities following settlements with tax authorities. The 2020 prior period deferred tax adjustments relate mainly to tax accrual to tax return adjustments offset by net increases in provisions for tax contingencies. The 2019 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. Unremitted earnings or differences in the carrying value and tax basis of investments may be liable to additional taxes if distributed as dividends or on a liquidation event. Deferred tax is provided for such differences in relation to Group entities where management is intending to remit earnings in the foreseeable future. The aggregate amount of gross temporary differences associated with investments in subsidiaries, partnerships and branches for which deferred tax liabilities have not been recognised totalled approximately 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. In 2021, the UK Government enacted legislation to increase the main rate of UK statutory Corporation Tax to 25% effective 1 April 2023. In December 2021, the OECD issued model rules for a new global minimum tax framework and the UK has announced the intention to bring these into effect from 2023. Whilst the overarching framework has been published, we are awaiting the legislation and detailed guidance to assess the full implications upon AstraZeneca. Tax reconciliation to UK statutory rate The table below reconciles the UK statutory tax charge to the Group’s total tax (credit)/charge: 2021 2020 2019 $m $m $m (Loss)/profit before tax (265) 3,916 1,548 Notional taxation charge at UK corporation tax rate of 19% (50) 744 294 Differences in effective overseas tax rates 1 (49) (49) Deferred tax charge relating to change in tax rates 1 54 138 39 Unrecognised deferred tax asset 2 32 3 (16) Items not deductible for tax purposes 208 36 92 Items not chargeable for tax purposes (163) (4) (13) Other items 3 (299) (65) 21 Adjustments in respect of prior periods 4 (163) (31) (47) Total tax (credit)/charge for the year (380) 772 321 1 The 2021 item relates to substantive enactment of the increase in UK Corporation Tax rate from 19% to 25% effective 1 April 2023 (debit of $12 m), the increase in the Dutch Corporate Income Tax rate from 25% to 25.8% effective 1 January 2022 (debit of $39 m) and other (debit of $3 m). The 2020 item relates to the increase in the 2020 substantively enacted Dutch Corporate Income Tax rate (debit of $151 m) and other (debit of $5 m). In 2020, it was substantively enacted that the planned reduction in the Dutch Corporate Income Tax rate to 21.7% from 25% effective 1 January 2021 would not take place. In addition, the planned reduction in the UK corporation tax rate to 17% was not enacted with the corporation tax rate remaining at 19% (credit of $18 m). The 2019 item relates to the increase in the 2019 substantively enacted Dutch Corporate Income Tax rate (debit of $66 m) and other (credit of $27 m). In 2019, it was substantively enacted that the Dutch Corporate Income Tax rate for the year ended 31 December 2020 would increase from 22.55% to 25% and effective 1 January 2021 would increase from 20.5% to 21.7% . 2 The 2021 item includes a $15 m debit arising on de-recognition of previously recognised deferred tax assets. The 2020 item includes a $22 m credit arising on recognition of previously unrecognised deferred tax assets. The 2019 item includes a $27 m credit arising on recognition of previously unrecognised deferred tax assets. 3 Other items in 2021 relate to a net credit of $299 m relating to the reduction of tax liabilities arising from updates to estimates of prior period tax liabilities following settlements with tax authorities and on expiry of the relevant statute of limitations partially offset by a provision for transfer pricing and other contingencies. Other items in 2020 relate to a net credit of $65 m relating to the release of tax contingencies following the expiry of the relevant statute of limitations partially offset by a provision for transfer pricing and other contingencies. Other items in 2019 relate to a charge of $309 m relating to collaboration and divestment activity, a credit of $70 m relating to internal transfers of intellectual property and a net credit of $218 m 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 for transfer pricing and other contingencies. 4 Further details explaining the adjustments in respect of prior periods is set out on page 149. AstraZeneca is domiciled in the UK but operates in other countries where the tax rates and laws are different to 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 $2,396m. 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 2019 (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 – – – – – 12 12 Exchange 14 (4) 1 22 18 1 52 Net deferred tax balance at 31 December 2019 (2,265) 561 1,293 (598) 546 691 228 Income statement (226) (64) 444 (92) 136 1 199 Other comprehensive income (78) 101 – (1) – 72 94 Equity – – – – – (16) (16) Exchange (58) 58 70 (110) 32 23 15 Net deferred tax balance at 31 December 2020 (2,627) 656 1,807 (801) 714 771 520 Income statement 782 (166) (59) (139) 307 850 1,575 Other comprehensive income 52 83 – – – 40 175 Equity – – – – – 14 14 Additions through business combinations 3 (3,744) 13 166 – 507 (1,116) (4,174) Exchange 57 (33) (53) 78 (10) (25) 14 Net deferred tax balance at 31 December 2021 4 (5,480) 553 1,861 (862) 1,518 534 (1,876) 1 Includes deferred tax of $367m on contingent consideration liabilities in respect of intangibles. 2 Untaxed reserves relate to taxable profits where the tax liability is deferred to later periods. 3 The deferred tax liability of $4,174m relates to the acquisition of Alexion (Note 27) from page 178. 4 The Group recognises deferred tax assets to the extent that it is probable that sufficient future taxable profits will arise, against which these deductible temporary differences can be utilised. The US includes a net deferred tax asset of $245m and the UK includes a net deferred tax asset of $1,070m as at 31 December 2021 which include tax losses and other deductible temporary differences. The Group has performed an assessment of recovery of deferred tax assets and for these entities, the Group has forecasted future taxable profits and considers that it is probable that sufficient future taxable profits will arise against which these deductible temporary differences can be utilised. In arriving at these forecasts, the Group has reviewed the Group level budgets and forecasts and the ability of those entities to generate future income from developing and commercialising products, including local tax laws and the scheduling of reversal of deductible temporary differences and losses are forecast to be utilised within ten years. It is considered that these sources of income are sufficiently predictable or diversified to support a recognition period in excess of five years. A sensitivity assessment has been performed which shows that there is minimal impact on timing of reversal. Assessing the availability of future taxable income to support recognition of deferred tax assets is considered a key judgement and changes in Group forecasts will impact the recoverability of deferred tax assets. To the extent that this is not the case, no deferred tax asset is recognised and details of unrecognised deferred tax assets are included in the table below. 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 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 Deferred tax assets at 31 December 2020 1,061 690 2,286 – 852 1,130 6,019 Deferred tax liabilities at 31 December 2020 (3,688) (34) (479) (801) (138) (359) (5,499) Net deferred tax balance at 31 December 2020 (2,627) 656 1,807 (801) 714 771 520 Deferred tax assets at 31 December 2021 1,476 574 1,910 – 1,571 1,735 7,266 Deferred tax liabilities at 31 December 2021 (6,956) (21) (49) (862) (53) (1,201) (9,142) Net deferred tax balance at 31 December 2021 (5,480) 553 1,861 (862) 1,518 534 (1,876) Analysed in the Consolidated Statement of Financial Position, after offset of balances within countries, as follows: 2021 2020 2019 $m $m $m Deferred tax assets 4,330 3,438 2,718 Deferred tax liabilities (6,206) (2,918) (2,490) Net deferred tax balance (1,876) 520 228 Unrecognised deferred tax assets Deferred tax assets (DTA) of $719m (2020: $428m; 2019: $441m) 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. 2021 2021 2020 2020 2019 2019 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 4 1 2 – 33 9 More than 10 years 53 11 – – 1 – Indefinite 300 79 234 63 218 62 357 91 236 63 252 71 Tax credits and State tax losses expiring: Within 10 years 101 36 44 More than 10 years 441 255 259 Indefinite 86 74 67 628 365 370 Total 719 428 441

Earnings per $0.25 Ordinary Sha

Earnings per $0.25 Ordinary Share	12 Months Ended
Earnings per $0.25 Ordinary Share	Dec. 31, 2021
Earnings per $0.25 Ordinary Share
Earnings per $0.25 Ordinary Share	5 Earnings per $0.25 Ordinary Share 2021 2020 2019 Profit for the year attributable to equity holders ($m) 112 3,196 1,335 Basic earnings per Ordinary Share $0.08 $2.44 $1.03 Diluted earnings per Ordinary Share $0.08 $2.44 $1.03 Weighted average number of Ordinary Shares in issue for basic earnings (millions) 1,418 1,312 1,301 Dilutive impact of share options outstanding (millions) 9 1 – Diluted weighted average number of Ordinary Shares in issue (millions) 1,427 1,313 1,301 The earnings figures used in the calculations above are post-tax.

Segment information

Segment information	12 Months Ended
Segment information	Dec. 31, 2021
Segment information
Segment information	6 Segment information Following the acquisition of Alexion, 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 operating segments. 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 the CEO exercises the authority delegated to him from the Board for the management, development and performance of AstraZeneca as a whole. It is considered that the SET is AstraZeneca’s Chief Operating Decision Making body (as defined by IFRS 8). The operation of the SET is principally driven by the management of the Commercial operations, R&D, manufacturing and supply and enabling functions. All significant operating decisions are undertaken 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 ability of the enterprise to develop, produce, deliver and commercialise a wide range of pharmaceutical products are central to 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 and gross margin 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 or brands. The bonus of SET members’ continues to be derived from the Group scorecard outcome as discussed in our Directors’ Remuneration Report. 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 Product Committees and Late Stage Product Committees. 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 Non-current assets, Total assets, assets acquired, net operating assets, and Property, plant and equipment owned by the same companies. Product Sales by geographic market are included in the area/country where the legal entity resides and from which those sales were made. Total Revenue 2021 2020 2019 $m $m $m UK 3,245 1,741 1,822 Rest of Europe France 915 653 578 Germany 1,486 937 704 Italy 577 431 396 Spain 578 398 359 Sweden 2,322 1,026 834 Others 1,949 1,391 1,291 7,827 4,836 4,162 The Americas Canada 772 596 466 US 12,047 8,955 8,047 Others 1,203 761 814 14,022 10,312 9,327 Asia, Africa & Australasia Australia 547 282 266 China 6,002 5,345 4,867 Japan 3,395 2,567 2,522 Others 2,379 1,534 1,418 12,323 9,728 9,073 Total Revenue 37,417 26,617 24,384 Total Revenue outside of the UK totalled $34,172m for the year ended 31 December 2021 (2020: $24,876m; 2019: $22,562m). Operating profit/(loss) (Loss)/profit before tax 2021 2020 2019 2021 2020 2019 $m $m $m $m $m $m UK (950) 824 466 (1,477) 518 93 Rest of Europe 2,999 2,838 1,502 2,682 2,356 1,006 The Americas (1,936) 758 (8) (2,401) 297 (474) Asia, Africa & Australasia 943 742 964 931 745 923 Continuing operations 1,056 5,162 2,924 (265) 3,916 1,548 Non-current assets 1 Total assets 2021 2020 2019 2021 2020 2019 $m $m $m $m $m $m UK 7,692 7,900 6,874 16,615 17,851 15,302 Rest of Europe 39,171 15,821 15,245 48,383 19,738 18,182 The Americas 26,570 18,501 19,663 34,301 23,640 23,380 Asia, Africa & Australasia 1,254 1,354 1,253 6,064 5,500 4,513 Continuing operations 74,687 43,576 43,035 105,363 66,729 61,377 Assets acquired 2 Net operating assets 3 2021 2020 2019 2021 2020 2019 $m $m $m $m $m $m UK 810 1,611 2,255 3,239 5,244 4,206 Rest of Europe 26,527 505 386 40,161 10,242 9,201 The Americas 10,810 286 236 24,786 15,697 15,929 Asia, Africa & Australasia 94 116 120 736 607 1,432 Continuing operations 38,241 2,518 2,997 68,922 31,790 30,768 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) and include those acquired through business combinations (Note 27). 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 2021 2020 2019 $m $m $m UK 2,542 2,227 1,920 Ireland 969 – – Sweden 1,593 1,755 1,488 US 2,660 2,662 2,758 Rest of the world 1,419 1,607 1,522 Continuing operations 9,183 8,251 7,688 Geographic markets The table below shows Product Sales in each geographic market in which customers are located. 2021 2020 2019 $m $m $m UK 1,206 611 458 Rest of Europe 6,792 4,446 3,891 The Americas 14,893 10,004 9,032 Asia, Africa & Australasia 13,650 10,829 10,184 Continuing operations 36,541 25,890 23,565 Product Sales are recognised when control of the goods has been transferred to a third party. A significant proportion of this is upon delivery of the products to wholesalers. One wholesaler (2020: one; 2019: one) individually represented greater than 10% of Product Sales. The value of Product Sales to this wholesaler was $4,862m (2020: $3,321m; 2019: $3,078m).

Property, plant and equipment

Property, plant and equipment	12 Months Ended
Property, plant and equipment	Dec. 31, 2021
Disclosure of 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 2019 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 Capital expenditure 10 42 874 926 Transfer of assets into use 137 462 (599) – Disposals and other movements (48) (615) (18) (681) Exchange adjustments 220 466 135 821 At 31 December 2020 5,851 7,738 2,478 16,067 Additions through business combinations (Note 27) 542 339 254 1,135 Capital expenditure 9 31 1,112 1,152 Transfer of assets into use 236 611 (847) – Disposals and other movements (92) (469) (200) (761) Exchange adjustments (169) (347) (69) (585) At 31 December 2021 6,377 7,903 2,728 17,008 Depreciation and impairment At 1 January 2019 2,504 4,714 – 7,218 Depreciation charge for the year 209 438 – 647 Impairment (reversal)/charge (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 Depreciation charge for the year 227 462 – 689 Impairment (reversal)/charge (1) 2 12 13 Disposals and other movements (42) (606) (12) (660) Exchange adjustments 137 324 – 461 At 31 December 2020 2,826 4,990 – 7,816 Depreciation charge for the year 231 493 – 724 Impairment (reversal)/charge (1) 121 223 343 Disposals and other movements (74) (428) (223) (725) Exchange adjustments (105) (228) – (333) At 31 December 2021 2,877 4,948 – 7,825 Net book value At 31 December 2019 3,027 2,575 2,086 7,688 At 31 December 2020 3,025 2,748 2,478 8,251 At 31 December 2021 3,500 2,955 2,728 9,183 Impairment charges in 2021 totalling $343m were recognised for Plant and equipment and Assets in course of construction due to the rationalisation of our manufacturing capacity and footprint across certain production sites as a result of restructuring programmes, including the Post Alexion Acquisition Group Review (see Note 2). These charges have been recognised in Cost of sales. The revised carrying value of the impacted assets is nil, under fair value less costs to sell. 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 were recognised in Cost of sales in 2019. Impairment reversals were recognised in 2019 of $23m in relation to the Longmont, Colorado manufacturing site (sold in March 2019) and the Boulder, Colorado manufacturing site of $70m (sold in May 2020). These assets had been fully impaired during 2018. Included within other movements in 2019 is a transfer 2021 2020 2019 $m $m $m The net book value of land and buildings comprised: Freeholds 2,985 2,583 2,657 Leaseholds 515 442 370

Leases

Leases	12 Months Ended
Leases	Dec. 31, 2021
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 Additions – separately acquired 87 89 15 191 Disposals and other movements – (27) (2) (29) Exchange adjustments 21 8 1 30 At 31 December 2020 735 272 36 1,043 Additions through business combinations (Note 27) 255 8 – 263 Additions – separately acquired 145 98 2 245 Disposals and other movements 25 (44) (4) (23) Exchange adjustments (27) (13) (1) (41) At 31 December 2021 1,133 321 33 1,487 Depreciation and impairment At 1 January 2019 – – – – Depreciation charge for the year 130 70 7 207 Impairment charge 4 – – 4 Disposals and other movements (3) (6) 1 (8) Exchange adjustments 1 – – 1 At 31 December 2019 132 64 8 204 Depreciation charge for the year 131 75 9 215 Disposals and other movements (24) (26) (4) (54) Exchange adjustments 8 4 – 12 At 31 December 2020 247 117 13 377 Depreciation charge for the year 144 85 6 235 Disposals and other movements (54) (42) – (96) Exchange adjustments (11) (6) – (17) At 31 December 2021 326 154 19 499 Net book value At 31 December 2019 495 138 14 647 At 31 December 2020 488 155 23 666 At 31 December 2021 807 167 14 988 Lease Liability 2021 2020 2019 $m $m $m The present value of lease liabilities is as follows: Within one year (233) (192) (188) Later than one year and not later than five years (544) (389) (368) Later than five years (210) (100) (119) Total lease liabilities (987) (681) (675) The interest expense on lease liabilities included within finance costs was $22m (2020: $21m; 2019: $22m). The expense relating to short-term leases was $4m (2020: $2m; 2019: $1m). The expense relating to leases of Low-value assets that are not shown above as short-term leases was $1m (2020: $1m; 2019: $1m). The expense relating to variable lease payments not included in lease liabilities was $4m (2020: income of $1m; 2019: $nil). Income recognised from subleasing was $3m (2020: $7m; 2019: $4m). The total cash outflow for leases in 2021 was $262m (2020: $228m; 2019: $208m).

Goodwill

Goodwill	12 Months Ended
Goodwill	Dec. 31, 2021
Goodwill.
Goodwill	9 Goodwill 2021 2020 2019 $m $m $m Cost At 1 January 12,164 11,982 12,022 Additions through business combinations (Note 27) 8,287 – – Exchange and other adjustments (140) 182 (40) At 31 December 20,311 12,164 11,982 Amortisation and impairment losses At 1 January 319 314 315 Exchange and other adjustments (5) 5 (1) At 31 December 314 319 314 Net book value At 31 December 19,997 11,845 11,668 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 2021 (and 31 December 2020 and 31 December 2019). No goodwill impairment was identified.

Intangible assets

Intangible assets	12 Months Ended
Intangible assets	Dec. 31, 2021
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 2019 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 Additions – separately acquired 1,454 2 136 1,592 Disposals (970) (66) (636) (1,672) Exchange and other adjustments 1,539 57 7 1,603 At 31 December 2020 42,677 2,642 1,288 46,607 Additions through business combinations (Note 27) 26,455 430 70 26,955 Additions – separately acquired 587 6 119 712 Transferred to Assets held for sale (Note 18) (1,266) (47) – (1,313) Disposals (801) (402) (23) (1,226) Exchange and other adjustments (1,062) (18) (22) (1,102) At 31 December 2021 66,590 2,611 1,432 70,633 Amortisation and impairment losses At 1 January 2019 17,907 2,035 1,600 21,542 Amortisation for year 1,808 52 68 1,928 Impairment charges 1,034 – 2 1,036 Impairment reversals (3) – – (3) Disposals (29) – (147) (176) Exchange and other adjustments (112) 10 26 (76) At 31 December 2019 20,605 2,097 1,549 24,251 Amortisation for year 1,872 59 61 1,992 Impairment charges 405 – – 405 Impairment reversals (165) – – (165) Disposals (899) (66) (636) (1,601) Exchange and other adjustments 746 38 (6) 778 At 31 December 2020 22,564 2,128 968 25,660 Amortisation for year 2,908 172 63 3,143 Impairment charges 2,067 – 18 2,085 Transferred to Assets held for sale (Note 18) (931) (14) – (945) Disposals (797) (402) (21) (1,220) Exchange and other adjustments (535) (21) (26) (582) At 31 December 2021 25,276 1,863 1,002 28,141 Net book value At 31 December 2019 20,049 552 232 20,833 At 31 December 2020 20,113 514 320 20,947 At 31 December 2021 41,314 748 430 42,492 2021 2020 2019 $m $m $m Net book value Current intangible assets 105 – – Non-current intangible assets 42,387 20,947 20,833 At 31 December 42,492 20,947 20,833 Other intangibles consist mainly of research and device technologies and the Alexion brand name. Included within Additions − separately acquired are amounts of $124m (2020: $835m; 2019: $1,093m), relating to deferred payments and other non-cash consideration for the acquisition of Product, marketing and distribution rights, which are not reflected in the current year Consolidated Statement of Cash Flows. Disposals include amounts related to fully depreciated assets that are no longer in use by the Group. 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 2019 Cost of sales 87 – – 87 Research and development expense – 29 – 29 Selling, general and administrative expense 1,721 19 68 1,808 Other operating income and expense – 4 – 4 Total 1,808 52 68 1,928 Year ended 31 December 2020 Cost of sales 66 – – 66 Research and development expense – 29 – 29 Selling, general and administrative expense 1,806 28 61 1,895 Other operating income and expense – 2 – 2 Total 1,872 59 61 1,992 Year ended 31 December 2021 Cost of sales 66 – – 66 Research and development expense – 33 – 33 Selling, general and administrative expense 2,842 138 63 3,043 Other operating income and expense – 1 – 1 Total 2,908 172 63 3,143 Net impairment charges/(reversals) 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 2019 Research and development expense 609 – – 609 Selling, general and administrative expense 425 – 2 427 Other operating income and expense (3) – – (3) Total 1,031 – 2 1,033 Year ended 31 December 2020 Research and development expense 55 – – 55 Selling, general and administrative expense 185 – – 185 Total 240 – – 240 Year ended 31 December 2021 Research and development expense 1,464 – – 1,464 Selling, general and administrative expense 603 – 18 621 Total 2,067 – 18 2,085 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 loss or reversal. Where testing is required, the recoverable amount of the assets is estimated in order to determine the extent of the impairment loss or reversal. Where it is not possible to estimate the recoverable amount of an individual asset, the Group estimates the recoverable amount of the Cash Generating Unit (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, the CGU for intangibles is at the product level. Group level budgets and forecasts include forecast capital investment and operational impacts related to sustainability projects, and form the basis for the value in use models used for impairment testing. 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 asset’s expected post-tax cash flows are risk-adjusted over their estimated remaining period of expected economic benefit. Where the value in use approach is used, the risk-adjusted cash flows are discounted using AstraZeneca’s post-tax weighted average cost of capital (7% for 2021, 2020 and 2019). There is no material difference in the approach taken to using pre-tax cash flows and a pre-tax rate compared to post-tax cash flows and a post-tax rate, as required by IAS 36. Where fair value less costs to sell is used to determine recoverable value, the discount rate is assessed with reference to a market participant; this is not usually materially different to the AstraZeneca post-tax weighted average cost of capital rate of 7%. 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 2021, the Group recorded impairment charges of $603m in respect of launched products, including Bydureon Impairment charges recorded against products in development, based on fair value less costs to sell, totalled $1,464m, principally Ardea ($1,172m) which was fully impaired following the decision to discontinue development of verinurad. The remaining impairments relate to full impairments of various products in development, due to either management’s decision to discontinue development as part of a Group-wide portfolio prioritisation review, or due to the outcome of research activities. In 2020, the Group recorded impairment charges of $350m in respect of launched products, including Duaklir Bydureon Duaklir In 2019, the Group recorded impairment charges of $425m in respect of launched products Bydureon Qtern Eklira/Tudorza FluMist Epanova 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. Impairment reversals of $165m were recorded in 2020 in respect of launched products, including FluMist No impairment reversals were recorded against products in development in 2021 (2020: $nil; 2019: $3m). Sensitivities 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. Were the useful economic lives to be adjusted to reduce them all by one year, the net book value would be reduced by $868m. If the useful economic lives were to be extended by one year, the net book value would increase by $481m. Significant assets Carrying value Remaining amortisation $m period C5 franchise ( Soliris/Ultomiris 17,724 6 to 15 years Intangible assets arising from the acquisition of Acerta Pharma 5,299 11 years Strensiq, Kanuma Andexxa 5,019 11 to 17 years Intangible asset products in development arising from the acquisition of Alexion 1 2,760 Not amortised Intangible assets arising from the acquisition of ZS Pharma 2,381 10 years Enhertu 1,684 12 years Other intangible assets (DS-1062) acquired from Daiichi Sankyo 1 1,050 Not amortised Farxiga Forxiga 739 5 years Intangible assets arising from the restructuring of a historical joint venture with MSD 666 5 to 8 years Intangible assets arising from the acquisition of Pearl Therapeutics 611 7 to 8 years RSV franchise assets arising from the acquisition of MedImmune 611 4 years Monalizumab intangible assets acquired from Innate Pharma 1 340 Not amortised 1 Assets in development are not amortised but are tested annually for impairment. The acquisition of intangible assets relating to DS-1062 in 2020 was assessed under the optional concentration test in IFRS 3 and was determined to be an asset acquisition, as substantially all of the value of the gross assets acquired was concentrated in a single asset. In assessing whether the intangible assets and associated processes acquired from Daiichi Sankyo in 2019 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
Investments in associates and joint ventures	Dec. 31, 2021
Investments in associates and joint ventures
Investments in associates and joint ventures	11 Investments in associates and joint ventures 2021 2020 2019 $m $m $m At 1 January 39 58 89 Additions 92 8 74 Share of after tax losses (64) (27) (116) Exchange and other adjustments 2 – 11 At 31 December 69 39 58 On 29 January 2021, AstraZeneca entered into an agreement with IHP Holdings Limited to create and run an online platform (iHospital) offering consultations with physicians, repeat prescriptions and e-pharmacy in China. The agreement resulted in the formation of a new entity, IHP HK Holdings Limited. AstraZeneca contributed $30m in initial funds and holds a 50% interest in the associate entity. On 1 December 2020, AstraZeneca and China International Capital Corporation (CICC) entered into an agreement to set up a Global Healthcare Industrial Fund to drive healthcare system innovation by leveraging local capital and accelerating China-related innovation incubation. The agreement resulted in the formation of a new entity, Wuxi AstraZeneca-CICC Venture Capital Partnership (Limited Partnership). AstraZeneca holds a 22% interest in the associate entity and contributed $1m in initial funds in 2020, with a further contribution of $45m made in 2021. On 23 September 2021, AstraZeneca entered into an agreement with VaxEquity Limited to collaborate and develop self-amplifying RNA technology with the aim of generating treatments for target diseases. AstraZeneca has contributed $14m in initial funds and holds a 40% interest in the associate entity. 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 Bio, 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. Viela Bio completed an IPO on 7 October 2019 with AstraZeneca investing $8m. After the IPO, AstraZeneca’s holding was reduced to 29%. In May 2020, Viela Bio completed a follow-on financing reducing AstraZeneca’s holding to 26.7% with one member on a board size of seven. Given the shareholding and board representation, the investment was treated as an associate. In February 2021, AstraZeneca agreed to divest its 26.7% ownership in Viela Bio, as part of the acquisition of Viela Bio by Horizon Therapeutics plc. AstraZeneca received cash proceeds and profit of $776m upon closing with the profit recorded as Other operating income. Prior to divestment, the Group provided transitional research and development services to Viela Bio, comprising $nil (2020: $3m; 2019: $13m) of services provided directly by the Group and $1m (2020: $15m; 2019: $24m) of passed-through third-party costs incurred by the Group on behalf of Viela Bio. 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 address unmet medical needs globally, and to bring innovative new medicines to patients in China more quickly. The agreement resulted in the formation of a joint venture entity based in China, Dizal (Jiangsu) Pharmaceutical Co., Limited (Dizal). AstraZeneca contributed $55m in initial funds and held an initial 48% interest in the joint venture. An additional contribution of $25m was made in 2019. In July 2020, Dizal completed a follow-on financing reducing AstraZeneca's holding to 30%. Dizal completed an IPO in December 2021, reducing AstraZeneca’s holding to 27% with two members on a board size of eleven. Given the shareholding and board representation, the investment continues to be treated as an associate. 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 (Centus). Since its establishment, AstraZeneca has contributed $130m in cash to the joint venture entity and has a 50% interest in the joint venture. At the end of the year Centus had net assets of $4m, of which AstraZeneca’s share is $2m, and the investment is held at $nil value. 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 (Archigen). Since its establishment, AstraZeneca has contributed $131m in cash to the joint venture entity and has a 50% interest in the joint venture. At the end of the year Archigen had net assets of $3m, of which AstraZeneca’s share is $2m, and the investment is held at $nil value. All investments are accounted for using the equity method. At 31 December 2021, unrecognised losses in associates and joint ventures totalled $73m (2020: $56m; 2019: $3m) which have not been recognised due to the investment carrying value reaching $nil value. Aggregated summarised financial information for the associate and joint venture entities is set out below: 2021 2020 2019 $m $m $m Non-current assets 215 324 298 Current assets 506 552 447 Total liabilities (99) (105) (89) Net assets 622 771 656 Amount attributable to AstraZeneca 65 38 64 Exchange adjustments 4 1 (6) Carrying value of investments in associates and joint ventures 69 39 58

Other investments

Other investments	12 Months Ended
Other investments	Dec. 31, 2021
Other investments
Other investments	12 Other investments 2021 2020 2019 $m $m $m Non-current investments Equity securities at fair value through Other comprehensive income 1,168 1,108 1,339 Fixed income securities at fair value through profit and loss – – 62 Total 1,168 1,108 1,401 Current investments Fixed income securities at fair value through profit and loss 16 118 811 Fixed deposits 53 42 38 Total 69 160 849 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. 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). 2021 2021 2020 2020 2019 2019 FVPL FVOCI FVPL FVOCI FVPL FVOCI $m $m $m $m $m $m Level 1 16 1,064 118 891 873 1,112 Level 2 – – – – – – Level 3 – 104 – 217 – 227 Total 16 1,168 118 1,108 873 1,339 During 2020, AstraZeneca sold a proportion of its equity portfolio receiving consideration of $1,381m, a large proportion of which related to the disposal of its full holding in Moderna Therapeuatics, Inc. All related gains were accounted through Other comprehensive income. 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 based on the cost of investment 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: 2021 2020 2019 FVOCI FVOCI FVOCI $m $m $m At 1 January 217 227 166 Additions 1 96 5 Revaluations – 63 56 Net transfers (out)/in (113) (103) 2 Disposals – (86) (5) Impairments and exchange adjustments (1) 20 3 At 31 December 104 217 227 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
Derivative financial instruments	Dec. 31, 2021
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 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 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 45 – – – 45 Cross currency swaps designated in a net investment hedge 19 – – (2) 17 Cross currency swaps designated in a cash flow hedge 107 43 – – 150 Cross currency swaps designated in a fair value hedge 1 – 43 – – 43 Forward FX designated in a cash flow hedge 2 – 8 (3) – 5 Other derivatives – 48 (30) – 18 31 December 2020 171 142 (33) (2) 278 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 25 – – – 25 Cross currency swaps designated in a net investment hedge 62 – – (2) 60 Cross currency swaps designated in a cash flow hedge – – – (43) (43) Forward FX designated in a cash flow hedge 2 – 13 – – 13 Other derivatives 15 70 (79) – 6 31 December 2021 102 83 (79) (45) 61 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. The swap matured in November 2021 when the related bond matured. 2 Forward FX designated in a cash flow hedge relates to contracts hedging anticipated CNY, EUR, GBP, JPY and SEK transactions occurring in the quarter immediately after the balance sheet date. All derivatives are held at fair value and fall within Level 2 of the fair value hierarchy as defined in Note 12, except for an equity warrant which falls within Level 3 (valued at $15m, held within Non-current assets). 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: 2021 2020 2019 Derivatives (0.5) % to 3.6 % (0.5) % to 2.4 % (0.5) % to 2.7 %

Non-current other receivables

Non-current other receivables	12 Months Ended
Non-current other receivables	Dec. 31, 2021
Non-current other receivables
Non-current other receivables	14 Non-current other receivables 2021 2020 2019 $m $m $m Prepayments 391 395 392 Accrued income 61 56 10 Other receivables 443 269 338 Non-current other receivables 895 720 740 Prepayments include $92m (2020: $121m; 2019: $125m) in relation to our research collaboration with Moderna. Other receivables include $nil (2020: $nil; 2019: $118m) of outstanding payments relating to the out-licence of Duaklir Tudorza

Inventories

Inventories	12 Months Ended
Inventories	Dec. 31, 2021
Inventories
Inventories	15 Inventories 2021 2020 2019 $m $m $m Raw materials and consumables 1,755 1,262 830 Inventories in process 5,216 1,331 1,272 Finished goods and goods for resale 2,012 1,431 1,091 Inventories 8,983 4,024 3,193 The Group recognised $9,640m (2020: $3,110m; 2019: $2,708m) of inventories as an expense within Cost of sales during the year. Inventory write-offs in the year amounted to $552m (2020: $149m; 2019: $231m).

Current trade and other receiva

Current trade and other receivables	12 Months Ended
Current trade and other receivables	Dec. 31, 2021
Current trade and other receivables
Current trade and other receivables	16 Current trade and other receivables 2021 2020 2019 $m $m $m Amounts due within one year Trade receivables 6,054 3,829 3,606 Less: Amounts provided for doubtful debts (Note 28) (23) (23) (21) 6,031 3,806 3,585 Other receivables 1,808 1,278 1,083 Prepayments 1,512 1,735 865 Government grants receivable – 53 – Accrued income 293 150 228 Trade and other receivables 9,644 7,022 5,761 Trade receivables includes $1,865m (2020: $1,250m; 2019: $892m) measured at FVOCI classified ‘hold to collect and sell’ as they are due from customers that the Group has the option to factor. All other 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
Cash and cash equivalents	Dec. 31, 2021
Cash and cash equivalents.
Cash and cash equivalents	17 Cash and cash equivalents 2021 2020 2019 $m $m $m Cash at bank and in hand 1,461 1,182 755 Short-term deposits 4,868 6,650 4,614 Cash and cash equivalents 6,329 7,832 5,369 Unsecured bank overdrafts (291) (286) (146) Cash and cash equivalents in the cash flow statement 6,038 7,546 5,223 The Group holds $nil (2020: $nil; 2019: $1m) of Cash and cash equivalents which is required to meet insurance solvency, capital and security requirements. AstraZeneca invests in constant net asset value funds and low volatility 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. Non-cash and other movements, within operating activities in the Consolidated Statement of Cash Flows, includes: 2021 2020 2019 $m $m $m Changes in fair value of put option (Acerta Pharma) – – 172 Share-based payments charge for the period 615 277 259 Settlement of share plan awards (570) (349) (323) Pension contributions (174) (172) (175) Pension charges recorded in operating profit 136 84 59 Long-term provision charges recorded in operating profit 270 66 506 Non-cash intangible additions – (120) – Foreign exchange and other (182) (62) (120) Total operating activities non-cash and other movements 95 (276) 378

Assets held for sale

Assets held for sale	12 Months Ended
Assets held for sale	Dec. 31, 2021
Assets held for sale
Assets held for sale	18 Assets held for sale Assets held for sale of $368m (2020: $nil; 2019: $70m) comprise intangible assets relating to the rights to certain respiratory assets acquired from Almirall and Actavis (including Tudorza Duaklir Tudorza Duaklir In 2019, Assets held for sale comprised tangible assets relating to the Boulder Manufacturing Centre, which was subsequently sold in May 2020.

Interest-bearing loans and borr

Interest-bearing loans and borrowings	12 Months Ended
Interest-bearing loans and borrowings	Dec. 31, 2021
Interest-bearing loans and borrowings
Interest-bearing loans and borrowings	19 Interest-bearing loans and borrowings Repayment 2021 2020 2019 dates $m $m $m Current liabilities Bank overdrafts On demand 291 286 146 Other short-term borrowings excluding overdrafts 3 84 8 Bank collateral 93 288 71 Lease liabilities 233 192 188 2.375% Callable bond US dollars 2020 – – 1,597 0.25% Callable bond euros 2021 – 614 – 0.875% Non-callable bond euros 2021 – 919 – Floating rate notes US dollars 2022 250 – – 2.375% Callable bond US dollars 2022 999 – – Other loans (including commercial paper) Within one year 24 3 – Total 1,893 2,386 2,010 Non-current liabilities Lease liabilities 754 489 487 0.25% Callable bond euros 2021 – – 559 0.875% Non-callable bond euros 2021 – – 837 Floating rate notes US dollars 2022 – 250 250 2.375% Callable bond US dollars 2022 – 996 996 0.3% Callable bond US dollars 2023 1,397 – – 2023 Floating bank loan US dollars 2023 1,998 – – Floating rate notes US dollars 2023 400 400 400 3.5% Callable bond US dollars 2023 848 847 846 7% Guaranteed debentures US dollars 2023 320 339 335 0.75% Callable bond euros 2024 1,014 1,102 1,003 0.7% Callable bond US dollars 2024 1,598 – – 2024 Floating bank loan US dollars 2024 1,997 – – 3.375% Callable bond US dollars 2025 1,988 1,985 1,983 0.7% Callable bond US dollars 2026 1,193 1,192 – 1.2% Callable bond US dollars 2026 1,245 – – 3.125% Callable bond US dollars 2027 745 744 743 1.25% Callable bond euros 2028 896 973 885 1.75% Callable bond US dollars 2028 1,244 – – 4% Callable bond US dollars 2029 994 993 992 0.375% Callable bond euros 2029 898 – – 1.375% Callable bond US dollars 2030 1,292 1,291 – 2.25% Callable bond US dollars 2031 746 – – 5.75% Non-callable bond pounds sterling 2031 470 475 457 6.45% Callable bond US dollars 2037 2,724 2,722 2,721 4% Callable bond US dollars 2042 988 988 987 4.375% Callable bond US dollars 2045 980 980 980 4.375% Callable bond US dollars 2048 737 737 737 2.125% Callable bond US dollars 2050 486 486 – 3% Callable bond US dollars 2051 734 – – Other loans US dollars 202 5 19 Total 28,888 17,994 16,217 Total interest-bearing loans and borrowings 1, 2 30,781 20,380 18,227 1 All loans and borrowings above are unsecured apart from $24m of current and $188m of non-current in 2021, both included within Other loans. 2 The $2bn USD 2023 floating rate loan and $2bn USD 2024 floating rate loan pay interest linked to 1 month LIBOR. The Group has the right to switch these loans to compounded daily USD Secured Overnight Funding Rate (SOFR) with five days notice. The loans will automatically switch to compounded SOFR on 30 June 2023 if the Group has not already switched before this date. All other floating rate debt is not impacted by LIBOR reference as it either uses non-LIBOR fixings or will mature before the relevant LIBOR rate is withdrawn. Total Total Total loans and loans and loans and borrowings borrowings borrowings 2021 2020 2019 $m $m $m At 1 January 20,380 18,227 19,113 Adoption of new accounting standards – Lease liabilities – – 720 Changes from financing cash flows Issue of loans and borrowings 12,929 2,968 500 Repayment of loans and borrowings (4,759) (1,609) (1,500) Movement in short-term borrowings (276) 288 (516) Repayment of obligations under leases (240) (207) (186) Total changes in cash flows arising on financing activities from borrowings 7,654 1,440 (1,702) Movement in overdrafts 31 138 (13) New lease liabilities 503 174 173 Additions through business combinations 2,523 – – Exchange (378) 363 (62) Other movements 68 38 (2) At 31 December 30,781 20,380 18,227 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 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 2020 Overdrafts – – – 286 286 286 Lease liabilities due within one year – – – 192 192 192 Lease liabilities due after more than one year – – – 489 489 489 Loans due within one year 371 – 614 923 1,908 1,922 Loans due after more than one year – 339 2,075 15,091 17,505 20,936 Total at 31 December 2020 371 339 2,689 16,981 20,380 23,825 2021 Overdrafts – – – 291 291 291 Lease liabilities due within one year – – – 233 233 233 Lease liabilities due after more than one year – – – 754 754 754 Loans due within one year – – – 1,369 1,369 1,378 Loans due after more than one year – 320 1,910 25,904 28,134 30,596 Total at 31 December 2021 – 320 1,910 28,551 30,781 33,252 1 Instruments designated as hedged items in a fair value hedge relationship relate to a designated euro 300 m portion of our euro 750 m 0.875% 2021 non-callable bond which matured on 24 November 2021. The accumulated amount of fair value hedge adjustments to the bond was a loss of $10 m. 2 Instruments designated at fair value through profit or loss include the US dollar 7% guaranteed debentures repayable in 2023. 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. During the year, changes to credit risk caused minimal changes to the fair value of bonds designated at fair value through profit or loss. A gain of $29m 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: 2021 2020 2019 Loans and borrowings 0.1 % to 0.6 % (0.5) % to 0.1 % (0.5) % to 1.6 %

Trade and other payables

Trade and other payables	12 Months Ended
Trade and other payables	Dec. 31, 2021
Trade and other payables
Trade and other payables	20 Trade and other payables 2021 2020 2019 $m $m $m Current liabilities Trade payables 2,824 2,350 1,774 Value-added and payroll taxes and social security 463 390 323 Rebates, chargebacks, returns and other revenue accruals 5,298 4,772 4,410 Clinical trial accruals 1,047 699 736 Other accruals 5,649 3,905 4,026 Collaboration Revenue contract liabilities 12 12 28 Vaccine contract liabilities 1,003 1,616 – Deferred government grant income 67 253 – Contingent consideration 849 647 897 Acerta Pharma share purchase liability (Note 26) 920 – – Other payables 806 1,141 1,793 Total 18,938 15,785 13,987 Non-current liabilities Accruals 25 56 34 Collaboration Revenue contract liabilities 26 38 50 Contingent consideration 2,016 2,676 3,242 Acerta Pharma share purchase/put option liability (Note 26) 1,538 2,297 2,146 Other payables 1,328 1,017 819 Total 4,933 6,084 6,291 Included within Rebates, chargebacks, returns and other revenue accruals are contract liabilities of $99m (2020: $77m; 2019: $97m). The revenue recognised in the year for contract liabilities is $70m, comprising $58m relating to other revenue accruals and $12m Collaboration Revenue contract liabilities. Significant markets where Rebates, chargebacks, returns and other revenue accruals are seen relate to the US where the liability at 31 December 2021 amounted to $3,172m (2020: $3,126m; 2019: $3,385m) and China where the liability at 31 December 2021 amounted to $814m (2020: $740m; 2019: $452m). Trade payables includes $44m (2020: $248m; 2019: $492m) 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 relationship 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 relationship 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 2021, the payables met the criteria of Trade payables. Vaccine contract liabilities relate to amounts received from customers, primarily government bodies, in advance of supply of product. Substantially all of the Vaccine contract liabilities are expected to be recognised as revenue during the next financial year. The revenue recognised in the year related to Vaccine contract liabilities held at the beginning of the year was $1,389m. Deferred government grant income relates to government grants received or receivable but for which the related expenses have not been incurred. Included within current Other payables are liabilities to Daiichi Sankyo totalling $nil (2020: $146m; 2019: $795m) resulting from the collaboration agreement in relation to Enhertu Enhertu In November 2020, Calquence received marketing approval in the EU, which removed all remaining conditionality in respect of the Acerta Pharma With the exception of Contingent consideration payables of $2,865m (2020: $3,323m; 2019: $4,139m) 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 2021 2020 2019 $m $m $m At 1 January 3,323 4,139 5,106 Settlements (643) (822) (709) Revaluations 14 (272) (614) Reclassification to Other payables (55) – – Discount unwind (Note 3) 226 278 356 At 31 December 2,865 3,323 4,139 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 expense and include an increase of $42m in 2021 (2020: a decrease of $51m; 2019: a decrease of $516m) 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 3% 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 $2,544m (2020: $2,932m; 2019: $3,300m) would increase/decrease by $254m 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 2013 Milestones 180 Amplimmune 2013 Milestones 150 Almirall 1 2014 Milestones and royalties 420 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
Provisions	Dec. 31, 2021
Provisions.
Provisions	21 Provisions Employee Other Severance Environmental benefits Legal provisions Total $m $m $m $m $m $m At 1 January 2019 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 Transfers in – – – – 258 258 Charge for year 116 34 15 16 95 276 Cash paid (62) (30) (48) (295) (56) (491) Reversals (89) – (2) (14) (27) (132) Exchange and other movements 8 – 33 (1) 45 85 At 31 December 2020 214 100 128 348 770 1,560 Additions through business combinations (Note 27) – – 41 73 27 141 Charge for year 238 23 46 109 456 872 Cash paid (172) (32) (49) (285) (84) (622) Reversals (62) – – (5) (175) (242) Exchange and other movements (6) (1) 29 (1) (6) 15 At 31 December 2021 212 90 195 239 988 1,724 2021 2020 2019 $m $m $m Due within one year 768 976 723 Due after more than one year 956 584 841 Total 1,724 1,560 1,564 Severance provisions arise predominantly in connection with global restructuring initiatives which involve rationalisation of the global supply chain, the sales and marketing organisation, IT and business support infrastructure, and R&D. During 2021, in conjunction with the acquisition of Alexion, the enlarged Group has initiated a comprehensive Post Alexion Acquisition Group Review, aimed at integrating systems, structure and processes, optimising the global footprint and prioritising resource allocations and investments. The Group has also continued to progress other legacy restructuring programmes, including the Global Post-Pandemic New Ways of Working programme that was initiated in 2020 in response to the changing business environment, accelerated by the COVID-19 pandemic. Employee costs in connection with the initiatives are recognised in severance provisions when a detailed formal plan has been communicated to those employees affected. Final severance costs are often subject to the completion of the requisite consultations on the areas impacted, with the majority of the cost expected to be paid within one year. 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 totalling $90m (2020: $100m; 2019: $96m) and $239m (2020: $348m; 2019: $642m), respectively, and ongoing matters are provided in Note 30. 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, but not paid, in previous periods. These uncertainties can also cause reversal in previously established provisions once final settlement is reached. The majority of Employee benefit provisions relate to Executive Deferred Compensation Plans. Other provisions comprise amounts relating to specific contractual or constructive obligations and disputes. Included within Other provisions are amounts associated with long-standing product liability settlements that arose prior to the merger of Astra and Zeneca, which given the nature of the provision, the amounts are expected to be settled over many years. Also included in Other provisions is an amount of $185m (2020: $258m; 2019: $nil), in relation to third-party liability and other risks (including incurred but not yet reported claims) arising on the Group's captive insurance arrangements. The Group revised its presentation of these provisions in 2020; prior to this, the balance had been presented within current Other payables. The claims are considered to be uncertain as to timing and amount and therefore treatment as a provision was deemed more appropriate. Charges to Other provisions in 2021 include $243m in relation to the Post Alexion Acquisition Group Review restructuring programme. No provision has been released or applied for any purpose other than that for which it was established.

Post-retirement and other defin

Post-retirement and other defined benefit schemes	12 Months Ended
Post-retirement and other defined benefit schemes	Dec. 31, 2021
Post-retirement and other defined benefit schemes
Post-retirement and other defined benefit schemes	22 Post-retirement and other defined benefit schemes Background This section predominantly covers defined benefit arrangements like post retirement pension and medical plans which make up the vast bulk of the Group’s liabilities. However, it also incorporates other benefits which fall under IAS 19 rules and which require an actuarial valuation, including but not limited to: Lump Sum plans, Long Service Awards and defined contribution pension plans which have some defined benefit characteristics (e.g. a minimum guaranteed level of benefit). The Group and most of its subsidiaries offer retirement plans which cover the majority of employees. 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 DB plans are 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 DB members of the UK Pension Fund. The number of active members in the Fund continues to decline and is now 497 employees. In November 2017, the Group closed the qualified and non-qualified US DB pension plans to future accrual (and removed any salary link) from 31 December 2017. The major DB 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 by the Group and local fiduciaries, who take into account the strength of the Group’s covenant, local regulation, cash flows, and the solvency and maturity of the pension scheme. Financing Principles and Funding Framework Ninety per cent of the Group’s total DB obligations (or 71% of net obligations) at 31 December 2021 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, as disclosed in prior years. There were no fundamental changes to these principles during 2021. The Group has developed a long-term funding framework to implement these principles. This framework targets either full funding on a low-risk funding measure or buy-out with an external insurer as the pension funds mature, with affordable long-term de-risking of investment strategy along the way. Unless local regulation dictates otherwise, this framework determines the cash contributions payable. UK The UK Pension Fund represents approximately 61% of the Group’s DB obligations at 31 December 2021. The financing principles are modified in light of the UK regulatory requirements (summarised below) and resulting discussions with the Trustee. Role of Trustee 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 investment strategy 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. 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. The Pension Scheme Act 2021 became effective in the UK from 1 October 2021. A section of this Act places additional legal requirements on companies who sponsor UK defined benefit pension schemes, with a focus on the ongoing security of these benefits. The Group has considered the implications of the Act and developed a framework to ensure it meets its responsibilities on an ongoing basis. There have been two UK High Court Rulings relating to Guaranteed Minimum Pensions (GMP) equalisation in 2018 and 2020. Following the publication of guidance around implementation in 2021, the Trustee, with input from the Group, has begun the process of equalising benefits, with implementation likely to be in 2023. An estimate of the impact of these changes has already been recognised in 2018 and 2020. Funding requirements UK legislation requires that DB pension schemes are funded prudently. On a triennial basis, the Trustee and the Group must agree on a set of assumptions used to value the liabilities as a part of an actuarial valuation. Together with the asset valuation, this facilitates the calculation of a funding level and of the contributions required (if any) to ensure the UK Pension Fund is fully funded over an appropriate time period and on a suitably prudent measure. The technical provisions assumptions used to value the liabilities for the triennial actuarial valuation are usually set more prudently than the assumptions used to prepare an accounting valuation of the liabilities, which are set under IAS 19 rules to be a ‘best estimate’. The last full actuarial valuation of the UK Pension Fund was carried out by a qualified actuary as at 31 March 2019. It was finalised in June 2020 and in early 2021, the Pensions Regulator acknowledged the outcome and no issues were raised. The funding assumptions used in this actuarial valuation were set out in the Group’s prior year report. The next actuarial valuation is due to take place as at 31 March 2022, with a likely timescale for completion in early to mid-2023. Aspects of the triennial actuarial valuation are governed by a long-term funding agreement, effective since October 2016 and which sets out a path to full funding on a low-risk measure. Under this agreement, if a deficit exists, the Group will grant a charge in favour of the Trustee over land and buildings on the Cambridge Biomedical Campus, effective upon practical completion of the site, or from 30 September 2022 (whichever is earlier). This charge is not currently in force. When effective, the charge would only crystallise 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 £39m was made in March 2021, with a further £39m contribution due before 31 March 2022. In addition, a contribution of £29m was also made in March 2021, with a final contribution of £30m due before 31 March 2022, 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) from March 2018 to March 2022 and to date, four instalments have been paid. The letter of credit underwriting these payments will reduce in value as each annual payment is made. 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. In particular, the Trustee has no unilateral right to wind up the Fund without Company consent nor does it have the power to unilaterally use surplus to augment benefits prior to wind-up. 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’. On current bases, it is expected that ongoing contributions (excluding those in respect of past service deficit contributions) during the year ending 31st December 2022 for the UK scheme will be approximately $19m. United States and Sweden The US and Sweden plans account for 11% and 18%, respectively, of the Group’s defined benefit obligations. The US and Sweden pension plans are governed by Fiduciary Bodies with responsibility for the investment policies of the assets. These plans are funded in line with the Group’s financing principles and local regulations. The US defined benefit pension plans were actuarially revalued at 31 December 2021, when plan obligations were $1,257m and plan assets were $1,198m. This includes obligations in respect of the non-qualified plan which is unfunded. The qualified US pension plan is fully funded 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 2021, when plan obligations were estimated to amount to $2,373m and plan assets were $1,234m. It should be noted that the Swedish plans have a funding surplus on the local GAAP accounting basis and this influences contribution policy. A deficit recovery contribution of $39m is expected to be paid in 2022. On current bases, it is expected that ongoing contributions (excluding those in respect of past service deficit contributions) during the year ending 31 December 2022 for the United States and Sweden will be approximately $10m. Other defined benefit plans The Group provides benefit plans other than pensions which have to be reported under IAS 19. These include Lump Sum plans, Long Service Awards and defined contribution pension plans which have a guaranteed minimum benefit. However, the largest category of these ‘other’ non-pension plans are healthcare benefits. 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 eligible retired employees. As at 31 December 2021, some 2,831 retired employees and covered dependants currently benefit from these provisions and some 1,691 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. In the US, there was a change to the level of benefit provision for members aged 65 and over within the Group’s healthcare plans, effective from 1 January 2021. The changes were communicated to the membership in September 2020 and resulted in an estimated liability reduction of $64m which was recognised as a past service credit for the year ending 31 December 2020. Following these changes, the plans became fully funded on an IAS 19 basis and are projected to have a small surplus. As a result, the investment strategy has been fully de-risked. The cost of post-retirement benefits other than pensions for the Group in 2021 was $1m (2020: $1m; 2019: $3m). Plan assets were $215m and plan obligations were $170m at 31 December 2021. 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 2021. 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: 2020 UK US Sweden Rest of Group 4 Inflation assumption 2.9 % – 1.5 % 1.6 % Rate of increase in salaries – 1 – 3.0 % 3.1 % Rate of increase in pensions in payment 2.8 % – 1.5 % 1.6 % Discount rate – defined benefit obligation 1.4 % 2.5 % 1.2 % 0.7 % Discount rate – interest cost 1.1 % 1.8 % 1.0 % 0.5 % Discount rate – service cost 1.4 % 1.7 % 1.2 % 0.8 % 2021 UK US Sweden Rest of Group 4 Inflation assumption 3.3 % – 2.3 % 2.2 % Rate of increase in salaries – 1 – 3.8 % 3.7 % Rate of increase in pensions in payment 3.1 % – 2.3 % 2.2 % Discount rate – defined benefit obligation 2 1.9 % 2.8 % 1.8 % 1.2 % Discount rate – interest cost 3 1.9 % 2.2 % 1.6 % 1.0 % Discount rate – service cost 3 1.9 % n/a % 1.9 % 1.4 % 1 Pensionable pay frozen at 30 June 2010 levels following UK fund changes. 2 Group defined benefit obligation as at 31 December 2021 calculated using discount rates based on market conditions as at 31 December 2021. 3 2021 interest costs and service costs calculated using discount rates based on market conditions as at 31 December 2020. 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 approximately 16 years in the UK, 11 years in the US, 19 years in Sweden and 17 years for the Rest of the Group (including Germany). 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 Life expectancy assumption for a male member retiring at age 65 Life expectancy assumption for a female member retiring at age 65 Country 2021 2041 2020 2040 2021 2041 2020 2040 UK 22.5 23.7 22.4 23.7 23.9 25.2 23.9 25.1 US 21.9 23.2 21.8 24.5 23.3 24.9 23.2 26.1 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 2020 Mortality Projections Model with a 1% long-term improvement rate. No other demographic assumptions have changed since they were updated in 2019 following the actuarial valuation. The Group has continued to assume that 30% of members (2020: 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 2021 to use the mortality tables (MP-2021) that were published during the year. Risks associated with the Group’s defined benefit pension schemes 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 evolve to further improve the expected risk/return profile as opportunities arise. The Trustee has hedged approximately 75% 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 96% of total assets and protects to some degree against falls in long-term interest rates (approximately 91% hedged at the end of 2020). 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%). It was confirmed in November 2020, the intention to align RPI with Consumer Price Index including Housing (CPIH) from 2030. 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 76% of total assets and protects to some degree against higher-than-expected inflation increases on the DBO (approximately 83% hedged at the end of 2020). 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 $2.4 bn of the UK Pension Fund’s liabilities. A one-year increase in life expectancy would result in a $390 m increase in pension fund obligations, which would be partially offset by a $203 m increase in the value of the longevity swap and hence the pension fund assets. The impact of the COVID-19 pandemic on long-term mortality assumptions is not yet known. The Group will conduct a mortality review once robust data is available. Other risks There are a number of other risks of administering the UK Pension Fund including counterparty risks from using derivatives (mitigated by using a specialist investment manager to oversee 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 way, with the local fiduciary bodies investing in a diversified manner and employing a framework to hedge interest rate risk. Local fiduciary boards are aware of Environmental, Social and Governance (ESG) risks as they pertain to investment policy, and where local regulation allows, have policies in place to monitor and manage such risks and comply with local legislation and disclosure requirements. Assets and obligations of defined benefit schemes The assets and obligations of the defined benefit schemes operated by the Group at 31 December 2021, 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 2020 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 1,929 – 321 – – – 52 – 2,302 – 2,302 Corporate bonds 2 – – 878 – – – 30 – 908 – 908 Derivatives 3 – (170) – – – 333 1 – 1 163 164 Investment funds: Listed Equities 4 – 1,771 93 90 – 119 72 5 165 1,985 2,150 Investment funds: Absolute Return/Multi Strategy 4 2,463 – 72 – 668 12 – 12 3,203 3,215 Investment funds: Corporate Bonds/Credit 4 – 969 – 80 – 211 39 12 39 1,272 1,311 Cash and cash equivalents 64 153 31 – – 7 – 4 95 164 259 Other – – – 5 – – (1) 355 (1) 360 359 Total fair value of scheme assets 5 1,993 5,186 1,323 247 – 1,338 205 376 3,521 7,147 10,668 2021 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 2,500 – 303 – – – 75 – 2,878 – 2,878 Corporate bonds 2 – – 877 – – – 16 – 893 – 893 Derivatives 3 – (237) 2 (1) – 259 (1) – 1 21 22 Investment funds: Listed Equities 4 – 1,427 – – – 134 55 6 55 1,567 1,622 Investment funds: Absolute Return/Multi Strategy 4 – 2,342 – – – 647 8 – 8 2,989 2,997 Investment funds: Corporate Bonds/Credit 4 – 1,006 – – – 192 53 11 53 1,209 1,262 Cash and cash equivalents 34 261 227 – – 2 – 2 261 265 526 Other – – – 5 – – 1 358 1 363 364 Total fair value of scheme assets 5 2,534 4,799 1,409 4 – 1,234 207 377 4,150 6,414 10,564 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 171. 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), Corporate Bonds/Credit (a range of investment grade and non-investment grade credit) and Absolute Return/Multi Strategy (multi-asset exposure both across and within traditional and alternative asset classes). 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 (2020: $ nil ) of the Group’s own assets. Scheme obligations 2020 UK US Sweden Rest of Group Total $m $m $m $m $m Present value of scheme obligations in respect of: Active membership (598) (99) (953) (468) (2,118) Deferred membership (1,887) (787) (783) (504) (3,961) Pensioners (5,940) (715) (789) (347) (7,791) Total value of scheme obligations (8,425) (1,601) (2,525) (1,319) (13,870) 2021 UK US Sweden Rest of Group Total $m $m $m $m $m Present value of scheme obligations in respect of: Active membership (532) (81) (926) (523) (2,062) Deferred membership (1,709) (693) (718) (465) (3,585) Pensioners (5,700) (630) (729) (312) (7,371) Total value of scheme obligations (7,941) (1,404) (2,373) (1,300) (13,018) Net deficit in the scheme 2020 UK US Sweden Rest of Group Total $m $m $m $m $m Total fair value of scheme assets 7,179 1,570 1,338 581 10,668 Total value of scheme obligations (8,425) (1,601) (2,525) (1,319) (13,870) Deficit in the scheme as recognised in the Consolidated Statement of Financial Position (1,246) (31) (1,187) (738) (3,202) 2021 UK US Sweden Rest of Group Total $m $m $m $m $m Total fair value of scheme assets 7,333 1,413 1,234 584 10,564 Total value of scheme obligations (7,941) (1,404) (2,373) (1,300) (13,018) Deficit in the scheme as recognised in the Consolidated Statement of Financial Position (608) 9 (1,139) (716) (2,454) Fair value of scheme assets 2021 2020 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 7,179 1,570 1,338 581 10,668 6,464 1,506 1,123 512 9,605 Interest income on scheme assets 75 27 12 4 118 111 39 14 5 169 Expenses (7) – – – (7) (6) (2) – (1) (9) Actuarial gains/(losses) 372 (22) 62 3 415 501 148 84 27 760 Exchange and other adjustments (77) (5) (132) 1 (213) 299 – 162 38 499 Employer contributions 122 19 5 28 174 131 14 2 25 172 Participant contributions 2 – – 2 4 2 – – 2 4 Benefits paid (333) (176) (51) (35) (595) (323) (135) (47) (27) (532) Scheme assets’ fair value at end of year 7,333 1,413 1,234 584 10,564 7,179 1,570 1,338 581 10,668 The actual return on the plan assets was a gain of $533m (2020: gain of $929m). Movement in post-retirement scheme obligations 2021 2020 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 (8,425) (1,601) (2,525) (1,319) (13,870) (7,580) (1,592) (2,160) (1,080) (12,412) Current service cost (18) (2) (69) (34) (123) (18) (1) (59) (26) (104) Past service (cost)/credit (4) – (1) – (5) (9) 64 (2) (24) 29 Participant contributions (2) – – (2) (4) (2) – – (2) (4) Benefits paid 333 176 51 35 595 323 135 47 27 532 Interest expense on post-retirement scheme obligations (87) (28) (22) (8) (145) (130) (40) (26) (10) (206) Actuarial gains/(losses) 199 46 (43) 9 211 (637) (167) (28) (96) (928) Exchange and other adjustments 63 5 236 19 323 (372) – (297) (108) (777) Present value of obligations in scheme at end of year (7,941) (1,404) (2,373) (1,300) (13,018) (8,425) (1,601) (2,525) (1,319) (13,870) The obligations arise from the following plans: 2021 2020 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 (7,927) (1,178) (2,371) (1,160) (12,636) (8,405) (1,335) (2,525) (603) (12,868) Funded – post-retirement healthcare – (143) – – (143) – (169) – – (169) Unfunded – pension schemes – (83) (2) (127) (212) – (97) – (696) (793) Unfunded – post-retirement healthcare (14) – – (13) (27) (20) – – (20) (40) Total (7,941) (1,404) (2,373) (1,300) (13,018) (8,425) (1,601) (2,525) (1,319) (13,870) 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 2021, are set out below. 2021 2020 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) (2) (69) (35) (124) (18) (1) (59) (26) (104) Past service (cost)/credit (4) – (1) – (5) (9) 64 (2) (24) 29 Expenses (7) – – – (7) (6) (2) – (1) (9) Total (charge)/credit to Operating profit (29) (2) (70) (35) (136) (33) 61 (61) (51) (84) Finance expense Interest income on scheme assets 75 27 12 5 119 111 39 14 5 169 Interest expense on post-retirement scheme obligations (87) (28) (22) (8) (145) (130) (40) (26) (10) (206) Net interest on post-employment defined benefit plan liabilities (12) (1) (10) (3) (26) (19) (1) (12) (5) (37) (Charge)/credit before taxation (41) (3) (80) (38) (162) (52) 60 (73) (56) (121) Other comprehensive income Difference between the actual return and the expected return on the post-retirement scheme assets 372 (22) 62 3 415 501 148 84 27 760 Experience (losses)/gains arising on the post-retirement scheme obligations (43) (9) – 74 22 43 (19) (24) (17) (17) Changes in financial assumptions underlying the present value of the post-retirement scheme obligations 239 59 (43) (61) 194 (649) (160) (4) (79) (892) Changes in demographic assumptions 3 (4) – (4) (5) (31) 12 – – (19) Remeasurement of the defined benefit liability 571 24 19 12 626 (136) (19) 56 (69) (168) Past service costs include granting early retirement in the UK and Sweden. Past service cost in 2020 includes a credit of $64m relating to the change in coverage of the US healthcare plans. In addition, the freeze of the Netherlands pension plan effective from 1 January 2021 yielded a past service credit, taken in 2020, of $7m. The past service cost in 2020 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 29). 2021 2020 $m $m Defined contribution schemes 428 351 Defined benefit schemes − current service costs and expenses 131 113 Defined benefit schemes − past service credit 5 (29) Pension costs 564 435 Rate sensitivities The following table shows the US dollar effect of a change in the significant actuarial assumptions used to determine the retirement benefits obligations in our three main defined benefit pension obligation countries. 2021 2020 +0.5% −0.5% +0.5% −0.5% Discount rate UK ($m) 565 (634) 610 (687) US ($m) 79 (84) 93 (99) Sweden ($m) 197 (226) 214 (246) Total ($m) 841 (944) 917 (1,032) 2021 2020 +0.5% −0.5% +0.5% −0.5% Inflation rate 1 UK ($m) (386) 375 (396) 378 US ($m) n/a n/a n/a n/a Sweden ($m) (207) 196 (245) 216 Total ($m) (593) 571 (641) 594 2021 2020 +0.5% −0.5% +0.5% −0.5% Rate of increase in salaries UK ($m) n/a n/a n/a n/a US ($m) n/a n/a n/a n/a Sweden ($m) (90) 82 (62) 70

Reserves

Reserves	12 Months Ended
Reserves	Dec. 31, 2021
Reserves
Reserves	23 Reserves Retained earnings The cumulative amount of goodwill written off directly to reserves resulting from acquisitions, net of disposals, amounted to $615m (2020: $636m; 2019: $614m) using year-end rates of exchange. At 31 December 2021, 3,922,122 shares, at a cost of $239m, have been deducted from Retained earnings (2020: 556,108 shares, at a cost of $51m; 2019: 907,239 shares, at a cost of $37m) 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). 2021 2020 2019 $m $m $m Cumulative translation differences included within Retained earnings At 1 January (1,143) (2,189) (2,007) Foreign exchange arising on consolidation (483) 443 40 Exchange adjustments on goodwill (recorded against other reserves) (21) 22 (5) Foreign exchange arising on designated borrowings in net investment hedges 1 (321) 573 (252) Fair value movements on derivatives designated in net investment hedges 34 8 35 Net exchange movement in Retained earnings (791) 1,046 (182) At 31 December (1,934) (1,143) (2,189) 1 Foreign exchange arising on designated borrowings in net investment hedges includes $100m in respect of designated bonds and $(421)m in respect of designated contingent consideration and other liabilities. The change in value of designated contingent consideration liabilities relates to $(266)m in respect of BMS’ share of Global Diabetes Alliance, $(5)m in respect of Almirall and $(150)m in relation to the Acerta Pharma share purchase liability. The cumulative gain with respect to costs of hedging is $4m (2020: $9m; 2019: $nil) and the loss during the year was $6m (2020: gain of $9m; 2019: loss of $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 $527m. 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 of $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

Share capital	12 Months Ended
Share capital	Dec. 31, 2021
Share capital of the Company
Share capital	24 Share capital Allotted, called-up and fully paid 2021 2020 2019 $m $m $m Issued Ordinary Shares ($0.25 each) 387 328 328 Redeemable Preference Shares (£1 each – £50,000) – – – At 31 December 387 328 328 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 2021 2020 2019 At 1 January 1,312,668,724 1,312,137,976 1,267,039,436 Issue of shares (share placing) – – 44,386,214 Issue of share capital (business combinations) 236,321,411 – – Issue of shares (share schemes) 410,530 530,748 712,326 At 31 December 1,549,400,665 1,312,668,724 1,312,137,976 Share issues Issue of share capital (business combinations) represents share capital issued as part of the acquisition of Alexion (see Note 27). Share repurchases No Ordinary Shares were repurchased by the Company in 2021 (2020: nil; 2019: 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
Dividends to shareholders	Dec. 31, 2021
Dividends to shareholders
Dividends to shareholders	25 Dividends to shareholders 2021 2020 2019 2021 2020 2019 Per share Per share Per share $m $m $m Second interim (March 2021) $1.90 $1.90 $1.90 2,490 2,489 2,403 First interim (September 2021) $0.90 $0.90 $0.90 1,392 1,180 1,180 Total $2.80 $2.80 $2.80 3,882 3,669 3,583 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 outstanding past 12 years be forfeited. $nil (2020: $1m; 2019: $4m) of unclaimed dividends have been adjusted for in Retained earnings in 2021. The 2020 second interim dividend of $1.90 per share was paid on 29 March 2021. The 2021 first interim dividend of $0.90 per share was paid on 13 September 2021. Reconciliation of dividends charged to equity to cash flow statement: 2021 2020 2019 $m $m $m Dividends charged to equity 3,882 3,669 3,583 Exchange losses on payment of dividend 3 4 5 Hedge contracts relating to payment of dividends (cash flow statement) (29) (101) 4 Dividends paid (cash flow statement) 3,856 3,572 3,592

Non-controlling interests

Non-controlling interests	12 Months Ended
Non-controlling interests	Dec. 31, 2021
Non-controlling interests.
Non-controlling interests	26 Non-controlling interests The Group Financial Statements at 31 December 2021 reflect equity of $19m (2020: $16m; 2019: $13m) and total comprehensive income of $3m (2020: $3m; 2019: $4m) attributable to the non-controlling interests in AstraZeneca Pharma India Limited, P.T. AstraZeneca Indonesia and Beijing Falikang Pharmaceutical (China) Co. Limited. In addition to the non-controlling interests in AstraZeneca Pharma India Limited, P.T. AstraZeneca Indonesia and Beijing Falikang Pharmaceutical (China) Co. Limited, the Group Financial Statements at 31 December 2021 also reflect equity of $nil (2020: $nil; 2019: $1,456m) and total comprehensive losses of $nil (2020: $55m; 2019: $111m) attributable to the non-controlling interest in Acerta Pharma, resulting in reported total comprehensive income of $3m (2020: losses of $52m, 2019: losses of $107m). In February 2016, AstraZeneca acquired a 55% controlling stake in Acerta Pharma where the non-controlling interest was subject to put and call options. The put option gave rise to a liability (see Note 20). The ability of the parties to exercise their respective put and call options, as well as the timing and amount of exercise, was dependent on certain conditions, the last of which was based on regulatory outcomes of Calquence Calquence The following summarised financial information, for Acerta Pharma and its subsidiaries, prior to full consolidation in 2020, is presented on a standalone basis since the acquisition date, and before the impact of Group-related adjustments, some of which are incorporated into the calculation of the loss attributable to the non-controlling interests: 2019 $m Total Revenue – Loss after tax (422) Other comprehensive income – Total comprehensive loss (422) 2019 $m Non-current assets 157 Current assets 475 Total assets 632 Current liabilities (310) Non-current liabilities (267) Total liabilities (577) Net assets 55 2019 $m Net cash outflow from operating activities (13) Net cash inflow from investing activities 7 Net cash inflow from financing activities 7 Increase in cash and cash equivalents in the year 1 As part of the acquisition of Alexion in July 2021, a pre-existing non-controlling interest in Caelum Biosciences was recognised (Note 27). This was valued at $150m, the agreed upon exercise price for the exclusive option to acquire the remaining equity. The option was exercised on 28 September 2021 and the acquisition of Caelum Biosciences closed shortly thereafter on 5 October 2021.

Acquisition of business operati

Acquisition of business operations	12 Months Ended
Acquisition of business operations	Dec. 31, 2021
Acquisition of business operations
Acquisition of business operations	27 Acquisition of business operations On 21 July 2021, AstraZeneca completed the acquisition of 100% of the issued shares of Alexion Pharmaceuticals, Inc. (Alexion), based in Boston, Massachusetts, US. Alexion is a global biopharmaceutical company focused on serving patients and families affected by rare diseases and devastating conditions through the discovery, development and commercialisation of life-changing medicines. At closing, Alexion shareholders received 2.1243 AstraZeneca American Depository Shares (ADSs) and $60 in cash for each of their Alexion shares. Unvested Alexion employee share awards were converted to equivalent AstraZeneca share awards. The fair value of the purchase consideration was $41,058m, comprising AstraZeneca ADSs of $27,196m, cash of $13,349m and replacement employee share awards of $513m. The Group has funded the cash element of the acquisition with $8bn of new long-term debt, issued in May and June 2021, $4bn of term loans drawn in July 2021 under the $17.5bn committed bank facilities entered into in December 2020 to secure the acquisition financing, and existing cash balances. The Group cancelled the remaining $13.5bn of the facilities in June, July and October 2021. Loans and borrowings of $2.3bn acquired with Alexion were repaid in full shortly following completion of the acquisition. The acquisition has been accounted for as a business combination using the acquisition method of accounting in accordance with IFRS 3 ‘Business Combinations’ and consequently the Alexion assets acquired, and liabilities assumed, have been recorded by AstraZeneca at fair value, with any excess of the purchase price over the fair value of the identifiable assets and liabilities being recognised as goodwill. As part of the Alexion acquisition in 2021, we identified the assets (comprising principally launched products and post pre-clinical stage) and liabilities acquired. Attributing fair values to assets acquired and liabilities assumed as part of business combinations is considered to be a key judgement. The purchase price allocation was performed with assistance from an independent valuer to advise on the valuation techniques and key assumptions in the valuation, in particular in respect of the valuation of the intangible assets and inventory. The fair values assigned to the Alexion business combination in 2021 were: Fair value $m Non-current assets Property, plant and equipment 1,135 Right-of-use assets 263 Intangible assets 26,855 Other non-current assets 301 28,554 Current assets Inventories 6,769 Trade and other receivables 2,096 Intangible assets 100 Cash and cash equivalents 4,086 13,051 Current liabilities Interest-bearing loans and borrowings (2,336) Trade and other payables (1,192) Other current liabilities (40) (3,568) Non-current liabilities Lease liabilities (228) Deferred tax liabilities (4,191) Other non-current liabilities (697) (5,116) Total net assets acquired 32,921 Less: non-controlling interests (150) Goodwill 8,287 Total fair value of consideration 41,058 Less: fair value of equity consideration (27,196) Less: fair value of replacement employee share awards (513) Less: cash and cash equivalents acquired (4,086) Net cash outflow 9,263 The estimated fair value and useful lives of intangible assets were as follows: Fair value Useful lives $m Years Launched products – C5 franchise ( Soliris Ultomiris 18,480 6 to 15 Launched products – Strensiq Kanuma Andexxa 5,215 11 to 17 Products in development 2,760 Not amortised Other intangibles 500 5 to 10 26,955 The fair value attributed to intangible assets was $26,955m and primarily represents intellectual property rights over launched products $23,695m and products under development $2,760m. These were fair valued using the multi-period excess earnings method, which uses a number of estimates regarding the amount and timing of future cash flows. The key assumptions in the cash flows are PTRS, peak year sales and revenue erosion curves. In accordance with the Group’s policy on impairment assessments as set out on page 144, the assets were assessed for impairment in Q4 2021. Future milestones have been included in the valuation of the intangible assets (as a deduction of cashflows). The fair value of inventory, which includes raw materials, work in progress and finished goods related to the launched products was estimated at $6,769m, an uplift of $5,635m on the carrying value prior to the acquisition. The fair value adjustment relates only to work in progress and finished goods and was calculated as the estimated selling price less costs to complete and sell the inventory, associated margins on these activities and holding costs. The fair value adjustment is expected to amortise over approximately the first 18 months post-acquisition, in line with revenues. Property, plant and equipment principally comprises the manufacturing facilities in Dublin and Athlone, Ireland and was fair valued using a cost approach. The estimated fair value of $1,135m represents an uplift of $111m over carrying value. The estimated fair value of contingent liabilities was $76m, relating to various claims and disputes in each case where there is a possible, but not probable, future financial exposure, and involve an assessment of the likelihood of a number of scenarios in relation to those matters. This amount has been included within other non-current liabilities of $697m. The estimated fair value of trade and other receivables was $2,096m, which approximated the contractual cash flows. The net deferred tax position reflected an adjustment of $5,215m related to the deferred tax impact of the fair value uplifts on intangible assets, inventories, property, plant and equipment and contingent liabilities as described above. Goodwill amounting to $8,287m was recognised on acquisition and is underpinned by a number of elements, which individually could not be quantified. Most significant amongst these is the premium attributable to a pre-existing, well positioned business in the innovation intensive, high growth rare diseases market with a highly skilled workforce and established reputation. Other important elements include the potential unidentified products that future research and development may yield and the core technological capabilities and knowledge base of the company. Goodwill is not expected to be deductible for tax purposes. Non-controlling interests reflect Alexion’s pre-existing minority equity interest in Caelum Biosciences and have been valued at $150m, the agreed upon exercise price for the exclusive option to acquire the remaining equity. The option was exercised on 28 September 2021 and the acquisition of Caelum Biosciences closed shortly thereafter on 5 October 2021 (Note 26). Alexion’s results have been consolidated into the Group’s results from 21 July 2021. For the period from acquisition to 31 December 2021, before reflecting the fair value adjustments arising on the acquisition, Alexion’s Total Revenues were $3,071m and Profit after tax was $889m. If the acquisition had taken effect at the beginning of the reporting period in which the acquisition occurred (1 January 2021), on a pro forma basis, after reflecting the fair value adjustments arising on the acquisition, the Total Revenue of the combined Group for the year ended 31 December 2021 would have been $41,132m and the Loss after tax would have been $1,152m. This pro forma information does not purport to represent the results of the combined Group that actually would have occurred had the acquisition taken place on 1 January 2021 and should not be taken to be representative of future results. Total acquisition-related costs of $171m have been incurred by the Group, which include advisory, legal and other professional fees. These costs are presented in the Statement of Comprehensive Income within Selling, general and administrative expense. The terms of the acquisition include a retention bonus plan for legacy Alexion employees whereby up to $50m may be used for retention bonus awards to employees at the level of Vice President or below. These bonuses will vest and be payable six months after the acquisition, or earlier. In the period since acquisition, a cost of $24m has been recorded in the Statement of Comprehensive Income ($2m in Cost of sales, $9m in Research and development expense and $13m in Selling, general and administrative expense). Upon completion of the acquisition, all unvested Alexion employee share awards were converted into AstraZeneca restricted stock awards that continue to have, and shall be subject to, the same terms and conditions as applied in the corresponding Alexion awards immediately prior to completion. Alexion Performance Stock Plan (PSU) awards that included performance-based vesting conditions were converted using the greater of the original target level and Alexion's assessment of the level of achievement immediately prior to completion (subject to a limit of 175 per cent. for the awards granted in 2019 and a limit of 150 per cent. for the awards granted in 2020). In the period since acquisition, a cost of $257m has been recorded in the Statement of Comprehensive Income ($9m in Cost of sales, $73m in Research and development expense and $175m in Selling, general and administrative expense). Payments made to the Employee Benefit Trust upon vesting of share awards recognised as part of the consideration for the acquisition of Alexion are recognised within investing activities in the Group’s Consolidated Statement of Cash Flows.

Financial risk management objec

Financial risk management objectives and policies	12 Months Ended
Financial risk management objectives and policies	Dec. 31, 2021
Disclosure Of financial risk management objectives and policies
Financial risk management objectives and policies	28 Financial risk management objectives and policies The Group’s principal financial instruments, other than derivatives, comprise bank overdrafts, loans and other borrowings, lease liabilities, current and non-current investments, 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, together with the Group's approach to capital management, 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 138. The following table represents the Group’s continuing designated hedge relationships under IFRS 9. 2019 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 2019 to OCI statement 2019 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 300 m 10 – – – – 2021 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 2,200 m (13) (92) 114 (52) (30) 2025 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 58.5 bn – (213) 4 – (209) 2019 78.01 JPY 0.35% Cross currency interest rate swap – JPY investment JPY 58.3 bn 4 – (4) – (4) 2029 108.03 JPY 1.53% Cross currency interest rate swap – CNY investment CNY 458 m (1) 4 (3) – 1 2026 6.68 CNY 4.80% Foreign currency borrowing – GBP investment GBP 350 m (457) (265) 14 – (251) 2031 n/a GBP 5.75% Foreign currency borrowing – EUR investment EUR 450 m (498) 44 (10) – 34 2021 n/a EUR 0.88% Contingent consideration liabilities and Acerta Pharma put option liability – AZUK and AZAB USD investments USD 5,583 m (5,583) 1,805 248 – 2,053 – – – 2020 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 2020 to OCI statement 2020 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 300 m 43 – – – – 2021 1.09 USD LIBOR + 1.27% Cash flow hedges – foreign currency and interest rate risk 2, 4, 6 Cross currency interest rate swaps – Euro bonds EUR 2,200 m 150 (30) (163) 239 46 2025 1.14 USD 2.69% FX Forwards − short term FX risk USD 618 m 5 – (20) 15 (5) 2021 – – Net investment hedge – foreign exchange risk 3, 4 Transactions matured pre 2020 – (565) – – (565) – – – Cross currency interest rate swap – JPY investment JPY 58.5 bn 19 (4) (15) – (19) 2029 108.03 JPY 1.53% Cross currency interest rate swap – CNY investment CNY 458 m (2) 1 1 – 2 2026 6.68 CNY 4.80% Foreign currency borrowing – GBP investment GBP 350 m (475) (251) 18 – (233) 2031 n/a GBP 5.75% Foreign currency borrowing – EUR investment EUR 450 m (548) 34 51 – 85 2021 n/a EUR 0.88% Contingent consideration liabilities and Acerta Pharma put option liability – AZUK and AZAB USD investments USD 5,252 m (5,252) 2,053 (642) – 1,411 – – – 2021 Other comprehensive income Fair value gain 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 2021 to OCI statement 2021 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 – – – – – – – – – – Cash flow hedges – foreign currency and interest rate risk 2, 4, 6 Cross currency interest rate swaps – Euro bonds EUR 1,700 m (43) 46 182 (201) 27 2026 1.14 USD 2.85% FX Forwards − USD 1,220 m 12 (5) – (7) (12) 2022 – – Net investment hedge – foreign exchange risk 3, 4 Transactions matured pre-2021 – (565) – – (565) – – – Cross currency interest rate swap – JPY investment JPY 58.3 bn 62 (19) (43) – (62) 2029 108.03 JPY 1.53% Cross currency interest rate swap – CNY investment CNY 458 m (2) 2 – – 2 2026 6.68 CNY 4.80% Foreign currency borrowing – GBP investment GBP 350 m 470 (233) (5) – (238) 2031 n/a GBP 5.75% Foreign currency borrowing - EUR investment 7 EUR 450 m – 85 (47) – 38 2021 n/a EUR 0.88% Foreign currency borrowing - EUR investment 8 EUR 800 m 898 – (50) – (50) 2029 n/a EUR 0.38% Contingent consideration liabilities and Acerta Pharma share purchase liability – AZUK and AZAB USD investments USD 2,658 m (2,658) 1,411 421 – 1,832 – – – 1 Swaps designated in a fair value hedge matured on 24 November 2021 and hedge ineffectiveness during the period was $nil (2020: gain of $1m). 2 Hedge ineffectiveness recognised on swaps designated in a cash flow hedge during the period was $nil (2020: $nil). 3 Hedge ineffectiveness recognised on swaps designated in a net investment hedge during the period was $nil (2020: $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 137, as its primary purpose was to hedge the translation foreign exchange risk arising on the consolidation of the Group’s net investment in Japan. 6 Nominal amount of FX forwards in a cash flow hedge of $1,220m represents the USD equivalent notional of the FX forwards. By currency, the nominal amounts were RMB 666m at FX rate 6.373, SEK 3,929m at 9.0742, JPY 19,289m at 115.1550, GBP 278m at 1.3506 and EUR 123m at 1.1306. All FX forwards in a cash flow hedge mature on 25 January 2022. 7 The EUR 450m net investment hedge matured in November 2021, when the hedging instrument, a EUR bond, matured. 8 On 3 June 2021, upon issuance of the EUR 800m 0.375% 2029 non-callable bond, EUR 550m was designated in a net investment hedge of the foreign currency exposure in relation of an equivalent amount of EUR-denominated net assets. The remaining EUR 250m was subsequently designated in a net investment hedge upon maturity of the EUR 450m bond on 24 November 2021. 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. The Group held no options during the reporting period. 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 increased from a net debt position of $12,110m at the beginning of the year to a net debt position of $24,322m at 31 December 2021. The increase in net debt was principally due to the acquisition of Alexion. 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 and European 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. At 31 December 2021, the Group was 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 was A3 Negative outlook by Moody’s and A- Stable outlook by Standard and Poor’s. In addition to Cash and cash equivalents of $6,329m, short-term fixed income investments of $16m, fixed deposits of $53m, less overdrafts of $291m at 31 December 2021, the Group has committed bank facilities of $4,875m available to manage liquidity. The commitments mature in April 2025. None of the above facilities contain any financial covenants. 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 currently bear an interest rate per annum based on US dollar LIBOR (or other relevant benchmark rate) plus a margin. The facilities contain arrangements to switch to alternative risk free rate benchmarks before June 2023. At 31 December 2021, the Group has $3,278m outstanding from debt issued under a Euro Medium Term Note programme and $21,908m 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 Lease and other financial instruments instruments financial loans Bonds liability payables instruments receivable 1 payable 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 Bank Total Derivative Derivative Total overdrafts Trade non-derivative financial financial derivative and other Lease and other financial instruments instruments financial loans Bonds liability payables instruments receivable payable instruments Total $m $m $m $m $m $m $m $m $m Within one year 667 2,136 207 15,812 18,822 (9,719) 9,620 (99) 18,723 In one to two years – 1,839 168 2,584 4,591 (60) 67 7 4,598 In two to three years – 2,101 120 1,658 3,879 (59) 67 8 3,887 In three to four years – 1,617 82 1,728 3,427 (1,151) 1,080 (71) 3,356 In four to five years – 2,502 53 722 3,277 (36) 40 4 3,281 In more than five years – 16,921 108 1,435 18,464 (1,707) 1,652 (55) 18,409 667 27,116 738 23,939 52,460 (12,732) 12,526 (206) 52,254 Effect of interest – (7,974) – – (7,974) 379 (405) (26) (8,000) Effect of discounting, fair values and issue costs (1) (109) (57) (2,070) (2,237) (70) 24 (46) (2,283) 31 December 2020 666 19,033 681 21,869 42,249 (12,423) 12,145 (278) 41,971 Bank Total Derivative Derivative Total overdrafts Trade non-derivative financial financial derivative and other Lease and other financial instruments instruments financial loans Bonds liability payables instruments receivable payable instruments Total $m $m $m $m $m $m $m $m $m Within one year 387 1,981 256 19,007 21,631 (11,766) 11,774 8 21,639 In one to two years – 5,647 210 2,521 8,378 (55) 66 11 8,389 In two to three years – 5,242 163 1,669 7,074 (1,060) 1,079 19 7,093 In three to four years – 2,591 130 862 3,583 (35) 39 4 3,587 In four to five years – 2,970 96 233 3,299 (118) 111 (7) 3,292 In more than five years – 19,727 221 2,212 22,160 (1,521) 1,480 (41) 22,119 387 38,158 1,076 26,504 66,125 (14,555) 14,549 (6) 66,119 Effect of interest – (8,609) – – (8,609) 299 (325) (26) (8,635) Effect of discounting, fair values and issue costs – (142) (89) (2,633) (2,864) (36) 7 (29) (2,893) 31 December 2021 387 29,407 987 23,871 54,652 (14,292) 14,231 (61) 54,591 1 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 161. In previous periods the table separately disclosed the net cash flows on interest rate swaps and cross-currency swaps. 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. The Group has $2bn of bank loans that mature in July 2023 and $2bn of bank loans that mature in July 2024, which the Group can repay before maturity at face value. Other that that, 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 $2,865m of contingent consideration held within Trade and other payables (see Note 20). Market risk Interest rate risk The Group maintains a Board approved mix of fixed and floating rate debt and uses underlying debt, interest rate swaps and forward rate agreements to manage this mix. At 31 December 2021, interest rate swaps with a notional value of $288m are fair valued through profit or loss and this has effectively converted the 7% guaranteed debentures payable in 2023 to floating rates. No new interest rate swaps were entered into during 2021. The majority of surplus cash is currently invested in US dollar liquidity funds 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. 2021 2020 2019 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 1,232 661 1,893 1,357 1,029 2,386 1,785 225 2,010 Non-current 23,985 4,903 28,888 17,005 989 17,994 14,893 1,324 16,217 Total 25,217 5,564 30,781 18,362 2,018 20,380 16,678 1,549 18,227 Financial assets Fixed deposits 53 – 53 42 – 42 38 – 38 Cash and cash equivalents – 6,329 6,329 – 7,832 7,832 – 5,369 5,369 Total 53 6,329 6,382 42 7,832 7,874 38 5,369 5,407 In addition to the financial assets above, there are $8,765m (2020: $6,328m; 2019: $6,765m) of other current and non-current asset investments and other financial assets. Of these, $nil receive floating rate interest (2020: $nil; 2019: $111m). The Group is also exposed to market risk on equity securities, which represent non-controlling interests in third-party biotech companies. 2021 2020 2019 $m $m $m Equity securities at fair value through Other comprehensive income (Note 12) 1,168 1,108 1,339 Total 1,168 1,108 1,339 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 68% of Group external sales in 2021 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 2021, before the impact of derivatives, 2% of interest-bearing loans and borrowings were denominated in pounds sterling and 9% 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 2021, 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. Foreign exchange gains and losses on forward contracts transacted for transactional hedging are taken to profit or to Other comprehensive income if the contract is in a designated cash flow hedge. Sensitivity analysis The sensitivity analysis set out below 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 with all other variables held constant. Based on the composition of our long-term debt portfolio as at 31 December 2021, a 1% increase in interest rates 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 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) Interest rates Exchange rates 31 December 2020 +1% −1% +10% −10% Increase/(decrease) in fair value of financial instruments ($m) 1,696 (1,758) 114 (132) Impact on profit: (loss)/gain ($m) – – (57) 74 Impact on equity: gain/(loss) ($m) – – 171 (206) Interest rates Exchange rates 31 December 2021 +1% −1% +10% −10% Increase/(decrease) in fair value of financial instruments ($m) 1,978 (2,106) 82 (85) Impact on profit: gain/(loss) ($m) – – 24 (9) Impact on equity: gain/(loss) ($m) – – 58 (76) 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 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 are recorded 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 2021 were as follows: Current assets 2021 2020 2019 $m $m $m Cash at bank and in hand 1,461 1,182 755 Money market liquidity funds 4,772 6,602 4,110 Collateralised repurchase agreement – – 400 Other short-term cash equivalents 96 48 104 Total Cash and cash equivalents (Note 17) 6,329 7,832 5,369 Fixed income securities at fair value through profit and loss (Note 12) 16 118 811 Fixed deposits (Note 12) 53 42 38 Total derivative financial instruments (Note 13) 83 142 36 Current assets subject to credit risk 6,481 8,134 6,254 Non-current assets 2021 2020 2019 $m $m $m Fixed income securities at fair value through profit and loss (Note 12) – – 62 Derivative financial instruments (Note 13) 102 171 61 Non-current assets subject to credit risk 102 171 123 The majority of the Group’s cash is invested in US dollar AAA rated money market liquidity funds. 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 were fully collateralised investments. The Group closed out its repurchase agreements during 2020. The value of the cash deposited in repurchase agreements at 31 December 2021 was $nil (2020:$nil; 2019: $401m). The fixed income securities were managed by four external third-party fund managers. During 2020, the securities were sold and re-invested in money market funds. The long-term rating of these securities was BBB- 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 2021 was $93m (2020: $288m; 2019: $71m) and the carrying value of such cash collateral posted by the Group at 31 December 2021 was $47m (2020: $11m; 2019: $10m). The impairment provision for other financial assets at 31 December 2021 was immaterial. Trade receivables Trade receivable exposures are managed locally in the operating units where they arise and credit limits are set as deemed appropriate for the customer. The Group is exposed to customers ranging from government-backed agencies and large private wholesalers to privately owned pharmacies, and the underlying local economic and sovereign risks vary throughout the world. Where appropriate, the Group endeavours to minimise risks by the use of trade finance instruments such as letters of credit and insurance. The Group applies the expected credit loss approach to establish an allowance for impairment that represents its estimate of expected losses in respect of Trade receivables. The Group applies the IFRS 9 simplified approach to measuring expected credit losses which uses a lifetime expected loss allowance for all Trade receivables. To measure expected credit losses, Trade receivables have been grouped based on shared credit characteristics and the days past due. The expected loss rates are based on payment profiles over a period of 36 months before 31 December 2021, 31 December 2020 or 31 December 2019 respectively and the corresponding historical credit losses experienced within this period. The historical loss rates are adjusted to reflect current and forward-looking information on macroeconomic factors affecting the ability of the customer to settle the receivables. On that basis, the loss allowance was determined as follows: 0-90 days 90-180 days Over 180 days 31 December 2019 Current past due past due past due Total Expected loss rate 0.1 % 0.8 % 2.0 % 44.0 % Gross carrying amount ($m) 3,178 312 82 34 3,606 Loss allowance ($m) 2 2 2 15 21 0-90 days 90-180 days Over 180 days 31 December 2020 Current past due past due past due Total Expected loss rate 0.1 % 1.6 % 19.4 % 60.6 % Gross carrying amount ($m) 3,659 124 21 25 3,829 Loss allowance ($m) 2 2 4 15 23 0-90 days 90-180 days Over 180 days 31 December 2021 Current past due past due past due Total Expected loss rate 0.1 % 1.2 % 22.6 % 11.0 % Gross carrying amount ($m) 5,617 328 18 91 6,054 Loss allowance ($m) 5 4 4 10 23 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 (2020: three wholesalers accounted for approximately 95%; 2019: three wholesalers accounted for approximately 94%). The movements of the Group expected credit losses provision are follows: 2021 2020 2019 $m $m $m At 1 January 23 21 38 Net movement recognised in income st

Employee costs and share plans

Employee costs and share plans for employees	12 Months Ended
Employee costs and share plans for employees	Dec. 31, 2021
Employee costs and share plans for employees
Employee costs and share plans for employees	29 Employee costs and share plans for employees Employee costs The monthly 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. 2021 2020 2019 Employees UK 8,900 7,900 7,400 Rest of Europe 18,300 16,600 15,500 The Americas 18,800 17,300 16,600 Asia, Africa & Australasia 33,600 33,000 27,800 Continuing operations 79,600 74,800 67,300 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 2021 was 83,100 (2020: 76,100; 2019: 70,600). The costs incurred during the year in respect of these employees were: 2021 2020 2019 $m $m $m Wages and salaries 7,633 6,273 5,648 Social security costs 886 726 658 Pension costs 564 435 491 Other employment costs 1,192 813 771 Total 10,275 8,247 7,568 Severance costs of $238m are not included above (2020: $116m; 2019: $158m). 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 (with awards granted as AstraZeneca ADSs for members of SET employed within the US). 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 129 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 $615m (2020: $277m; 2019: $259m). Payments made to the Employee Benefit Trust upon vesting of share awards are recognised within operating cash flows, reflecting the substance of the arrangement in place between the group and the Trust. 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 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 2021, 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. Ordinary Shares WAFV 1 ADR Shares WAFV 1 ʼ 000 pence ʼ 000 $ Outstanding at 1 January 2019 2,682 2295 6,963 15.65 Granted 1,018 3147 1,978 21.06 Forfeited (350) 2317 (1,900) 16.80 Exercised (491) 1983 (1,835) 14.17 Outstanding at 31 December 2019 2,859 2649 5,206 17.80 Granted 932 3702 1,767 24.02 Forfeited (191) 3088 (478) 19.57 Cancelled (3) 2234 – – Exercised (552) 2426 (1,704) 15.43 Outstanding at 31 December 2020 3,045 2985 4,791 20.76 Granted 1,275 2485 2,082 17.18 Forfeited (220) 3005 (494) 20.53 Cancelled (9) 3653 – – Exercised (632) 2332 (1,201) 17.40 Outstanding at 31 December 2021 3,459 2919 5,178 20.12 1 Weighted average fair value. The AstraZeneca Investment Plan 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. 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. Ordinary Shares WAFV ADR Shares WAFV ʼ000 pence ʼ000 $ Outstanding at 1 January 2019 1,001 4598 10,493 31.57 Granted 759 6313 3,885 42.06 Forfeited (115) 5438 (1,199) 35.44 Cancelled – – (1) 32.39 Exercised (317) 4028 (3,408) 28.82 Outstanding at 31 December 2019 1,328 5640 9,770 36.22 Granted 689 7408 3,671 47.71 Forfeited (113) 6204 (1,077) 41.08 Cancelled – 7280 (9) 36.93 Exercised (278) 4929 (3,180) 31.47 Outstanding at 31 December 2020 1,626 6471 9,175 41.89 Granted 902 6893 4,509 47.75 Forfeited (158) 6865 (1,254) 45.77 Cancelled (1) 7244 (8) 45.89 Exercised (341) 4980 (2,881) 35.11 Outstanding at 31 December 2021 2,028 6879 9,541 46.19 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 2021 to make awards to 111 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. Ordinary Shares WAFV ADR Shares WAFV ʼ000 pence ʼ000 $ Outstanding at 1 January 2019 92 4952 1,062 30.79 Granted 105 6894 176 43.91 Forfeited (7) 5907 (141) 31.17 Cancelled – – (2) 28.19 Exercised (14) 5244 (446) 30.12 Outstanding at 31 December 2019 176 6051 649 34.70 Granted 80 7931 295 52.92 Forfeited (6) 7168 (79) 39.26 Exercised (89) 5166 (359) 31.05 Outstanding at 31 December 2020 161 7434 506 47.20 Granted 139 7415 481 53.96 Forfeited (18) 7562 (42) 44.73 Exercised (27) 7643 (182) 41.87 Outstanding at 31 December 2021 255 7393 763 52.88 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. Ordinary Shares WAFV ADR Shares WAFV ʼ000 pence ʼ000 $ Outstanding at 1 January 2019 238 5239 65 38.46 Granted 44 7301 – – Outstanding at 31 December 2019 282 5563 65 38.46 Granted 18 8386 – – Outstanding at 31 December 2020 300 5730 65 38.46 Granted – – 175 56.83 Forfeited (18) 8386 (45) 38.46 Outstanding at 31 December 2021 282 5563 195 54.92 Alexion employee share award plan Alexion employee share awards were converted into AstraZeneca restricted stock awards that continue to have, and shall be subject to, the same terms and conditions as applied in the corresponding Alexion awards immediately prior to completion. Ordinary Shares WAFV ADR Shares WAFV ʼ000 pence ʼ000 $ Outstanding at 1 January 2021 – – – – Granted – – 20,189 57.54 Forfeited – – (838) 57.54 Exercised – – (4,131) 57.54 Outstanding at 31 December 2021 – – 15,220 57.54 The fair values for the market-based performance conditions of the AstraZeneca 2014 Performance Share Plan were determined using a modified version of the Monte Carlo model. This method incorporated market inputs in addition to expected dividends. The fair values of all other plans are set using the market price at the point of award. 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
Commitments and contingent liabilities	Dec. 31, 2021
Commitments and contingent liabilities
Commitments and contingent liabilities	30 Commitments and contingent liabilities 2021 2020 2019 Commitments $m $m $m Contracts placed for future capital expenditure on Property, plant and equipment and 388 689 396 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 an intangible asset 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 12,764 1,047 1,958 3,382 6,377 Future potential revenue milestone payments 17,769 68 420 1,452 15,829 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 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 48, 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 2019, 2020 or 2021. 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 a number of 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 2021 in the aggregate of $90m (2020: $100m; 2019: $96m), 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 144, 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 $99m and $165m (2020: $95m and $158m; 2019: $86m and $143m) 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 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/or an estimate of the amount of any loss is difficult to ascertain. Unless specifically identified below that a provision has been taken, AstraZeneca considers each of the claims to represent a contingent liability and discloses information with respect to the nature and facts of the cases in accordance with IAS 37. There is one matter, which is considered probable that an outflow will be required, but for which we are unable to make an estimate of the possible loss or range of possible losses at this stage. We do not believe that disclosure of the amounts sought by plaintiffs, if known, would be meaningful with respect to these 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 30, 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 including within the next financial year. 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 abbreviated new drug applications (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 2021, 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 Calquence US patent proceedings In February 2022, 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 version of Calquence Calquence Tagrisso 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 version of Tagrisso Tagrisso Tagrisso In September 2021, Puma Biotechnology, Inc. and Wyeth LLC filed a patent infringement lawsuit in the US District Court for the District of Delaware against AstraZeneca relating to Tagrisso Patent proceedings outside the US In Russia in October 2021, AstraZeneca filed a lawsuit in the Arbitration Court of the Moscow Region against Axelpharm, LLC to prevent it from obtaining authorisation to market a generic version of Tagrisso Tagrisso Faslodex Patent proceedings outside the US In Japan, in April 2021, AstraZeneca received notice from the Japan Patent Office that Sandoz K.K. filed a Request for Invalidation of the Faslodex Faslodex Farxiga/Forxiga 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 (the District Court). In May 2021, trial against Zydus proceeded in the District Court. In October 2021, the District Court issued a decision finding the asserted claims of AstraZeneca’s US Patent No. 6,515,117 as valid and infringed by Zydus’s proposed ANDA product. Patent proceedings outside the US In Canada, in January 2021, Sandoz Canada Inc. served three Notices of Allegation on AstraZeneca alleging invalidity and/or non-infringement of all three patents listed on the Canadian Patent Register in relation to Forxiga In February 2021, Teva Canada Limited served a Notice of Allegation on AstraZeneca alleging invalidity and/or non-infringement of all three patents listed on the Canadian Patent Register in relation to Forxiga Brilinta 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 Roxadustat US patent proceedings In April 2021, Akebia Therapeutics, Inc. and Otsuka America Pharmaceutical, Inc. served AstraZeneca with a complaint seeking a declaration of invalidity and non-infringement for several of FibroGen, Inc’s (FibroGen) method of use patents related to HIF prolylhydroxylase inhibitors. AstraZeneca is the exclusive licensee of FibroGen in the United States. AstraZeneca filed a motion to dismiss in June 2021. 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 related to HIF prolylhydroxylase inhibitors. AstraZeneca is the exclusive licensee of FibroGen in Canada. AstraZeneca and FibroGen were defending the action. The parties have resolved the action. Symbicort US patent proceedings AstraZeneca is involved in ongoing ANDA litigation with Mylan Pharmaceuticals Inc. (Mylan) and Kindeva Drug Delivery L.P. (Kindeva) brought in the US District Court for the Northern District of West Virginia (the District Court). In the action, AstraZeneca alleges that the defendants' generic versions of Symbicort , if approved and marketed, would infringe various AstraZeneca patents. In September 2020, Mylan and Kindeva stipulated to patent infringement to the extent that the asserted patent claims are found to be valid and enforceable, but reserved the right to seek a vacatur of the stipulation if the US Court of Appeals for the Federal Circuit (the Federal Circuit) reverses or modifies the District Court’s claim construction. In March 2021, the District Court decided in favour of AstraZeneca and determined that the asserted patent claims were not invalid or unenforceable. Mylan and Kindeva appealed to the the Federal Circuit. In December 2021, the Federal Circuit affirmed the decision by the District Court determining that the asserted patent claims were nonobvious. However, the Federal Circuit reversed the District Court’s claim construction decision, vacated the stipulated judgment of infringement by Mylan and Kindeva and remanded the matter back to the District Court for determination of whether their ANDA product infringes the asserted patent claims under the Federal Circuit’s claim construction. In January 2022, AstraZeneca filed a Combined Petition for Panel Rehearing and Rehearing En Banc with the Federal Circuit. Daliresp 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 Movantik US patent proceedings In March 2020, Aether Therapeutics, Inc. filed a patent infringement lawsuit in the US District Court for the District of Delaware against AstraZeneca, Nektar Therapeutics and Daiichi Sankyo, Inc., relating to Movantik Onglyza 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) (the ‘894 patent) and formulation Patent No. 2568391 (expiry May 2025) related to Onglyza Enhertu US patent proceedings In October 2020, Seagen Inc. (Seagen) filed a complaint against Daiichi Sankyo Company, Limited in the US District Court for the Eastern District of Texas alleging that Enhertu Enhertu On 23 December 2020, AstraZeneca and Daiichi Sankyo filed a post-grant review petition with the US Patent and Trademark Office alleging, inter alia, that the ‘039 patent is invalid for lack of written description and enablement. In January 2021, AstraZeneca and Daiichi Sankyo filed a second post-grant review petition with the US Patent and Trademark Office extending its challenge to additional claims in the ‘039 patent. In June 2021, the US Patent and Trademark Office declined to institute the post-grant reviews. AstraZeneca and Daiichi Sankyo have requested a rehearing of their post-grant review petitions. In August 2021, AstraZeneca Pharmaceuticals LP and Daiichi Sankyo filed an action against Andrew Hirshfeld, acting in his official capacity as Under Secretary of Commerce, and the US Patent and Trademark Office in the US District Court for the Eastern District of Virginia seeking judicial review of the US Patent Office’s discretionary authority to deny institution of post-grant review proceedings. Ultomiris US patent proceedings In November 2018, Chugai Pharmaceutical Co., Ltd. (Chugai) filed a lawsuit against Alexion in the Delaware District Court alleging that Ultomiris Ultomiris Patent proceedings outside the US In Japan, in December 2018, Chugai Pharmaceutical Co., Ltd (Chugai) filed a lawsuit in the Tokyo District Court against Alexion Pharma GK in Japan and alleges that Ultomiris neither valid nor infringed. In October 2021 the Japanese Patent Office invalidated four Chugai patents, including those asserted in the Tokyo District Court Case. Chugai has appealed the patent office decision. Product liability litigation Farxiga and In several jurisdictions in the US, AstraZeneca has been named as a defendant in lawsuits involving plaintiffs claiming physical injury, including Fournier's Gangrene and necrotising fasciitis, from treatment with Farxiga Xigduo XR One case, filed in state court in Minnesota, is scheduled for trial in January 2023. Byetta/Bydureon In the US, Amylin Pharmaceuticals, LLC (a wholly owned subsidiary of AstraZeneca) and AstraZeneca are among multiple defendants in various lawsuits filed in federal and state courts involving claims of physical injury from treatment with Byetta Bydureon Onglyza and In the US, AstraZeneca is defending various lawsuits alleging heart failure, cardiac injuries, and/or death from treatment with Onglyza Kombiglyze Nexium and 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 (PPIs), including Nexium Prilosec In addition, AstraZeneca has been defending lawsuits involving allegations of gastric cancer following treatment with PPIs. One such claim is filed in the US District Court for the Middle District of Louisiana, where the court has scheduled a trial for November 2022. Canada proceedings In Canada, in July and August 2017, AstraZeneca was served with three putative class action lawsuits. Two of the lawsuits have been dismissed, one in 2019 and one in 2021. The third lawsuit, filed in Saskatchewan, seeks authorisation to represent individual residents in Canada who allegedly suffered kidney injuries from the use of proton pump inhibitors, including Nexium Losec 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. A trial of the matter was held in February 2020 and post-trial oral argument was heard in August 2020. In November 2020, the Delaware Court of Chancery decided in AstraZeneca’s favour and subsequently entered a Final Judgment as to all pending claims in favour of AstraZeneca. In December 2020, the plaintiffs filed an appeal to the Delaware Supreme Court. In October 2021, the Delaware Supreme Court affirmed the Delaware Court of Chancery’s decision. This matter is now concluded. Array BioPharma In December 2017, AstraZeneca was served with a complaint filed in New York State court by Array BioPharma, Inc. (Array) alleging breaches of contractual obligations relating to a 2003 collaboration agreement between AstraZeneca and Array. In June 2020, an appeal court denied AstraZeneca's motion for an early dismissal of the case, allowing the case to continue towards trial. No trial date has been set. Ocimum lawsuit In the US, in December 2017, AstraZeneca was served with a complaint filed by Ocimum Biosciences, Ltd. (Ocimum) in the Superior Court for the State of Delaware that alleged, 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 February 2021, the Delaware Supreme court affirmed the grant of AstraZeneca’s motion for summary judgment. This matter is now concluded. 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 (the Court), including several putative class action lawsuits that were purportedly brought on behalf of classes of direct purchasers or end payors of Seroquel XR Seroquel XR 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 federal court in the District of Columbia (the District Court) by US nationals (or their estates, survivors, or heirs) who were killed or wounded in Iraq between 2005 and 2013. 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. In July 2020, the District Court granted AstraZeneca’s and the other defendants’ motion and dismissed the lawsuit, and the plaintiffs appealed to the DC Circuit Court of Appeals (the Appellate Court). In January 2022, a panel of the Appellate Court reversed the dismissal and remanded the case back to the District Court. AstraZeneca and the other defendants have filed petitions requesting en banc review by the entire Appellate Court. AZD1222 Securities Litigation In January 2021, putative securities class action lawsuits were filed in the US District Court for the Southern District of New York against AstraZeneca PLC and certain officers, on behalf of purchasers of AstraZeneca publicly traded securities during the period 21 May 2020 through 20 November 2020. The Court appointed co-lead plaintiffs in April 2021 and they filed an Amended Complaint in July 2021 on behalf of purchasers of AstraZeneca publicly traded securities during the period 15 June 2020 through 29 January 2021. The Amended Complaint alleges that defendants made materially false and misleading statements in connection with the development of AZD1222, AstraZeneca’s vaccine for the prevention of COVID-19. In September 2021, AstraZeneca moved to dismiss the Amended Complaint. Definiens In Germany, in July 2020, AstraZeneca received a notice of arbitration filed with the German Institution of Arbitration from the sellers of Definiens AG (the Sellers) regarding the 2014 Share Purchase Agreement (SPA) between AstraZeneca and the Sellers. The Sellers claim they are owed approximately $140m in earn-outs under the SPA.  AstraZeneca disputes the claims of the Sellers. An oral hearing is scheduled for July 2022. Alexion Shareholder Litigation In March 2021, several shareholders of Alexion Pharmaceuticals, Inc. (Alexion) filed individual lawsuits against Alexion, its management, and/or AstraZeneca and affiliates in federal district court in New York. The complaints generally alleged that the preliminary registration statement filed with the SEC on 19 February 2021, omitted certain allegedly material information in connection with AstraZeneca’s proposed acquisition of Alexion (the Acquisition), and one of the complaints further alleged that the Alexion directors breached their fiduciary duties in connection with the Acquisition and that AstraZeneca and the other entity defendants aided and abetted the alleged breaches. In May 2021, all such complaints were withdrawn and dismissed. This matter is now concluded. PARP Inhibitor Royalty Dispute In October 2012, Tesaro, Inc. (now wholly owned by GlaxoSmithKline plc, ‘GSK’) entered into two worldwide, royalty-bearing patent license agreements with AstraZeneca related to GSK’s product niraparib. In May 2021, AstraZeneca filed a lawsuit against Tesaro in the Commercial Court of England and Wales alleging that GSK has failed to pay all of the royalties due on niraparib sales under our license agreements. While a case schedule has not yet been set, trial is anticipated in H2 2022. Portola Shareholder Litigation In connection with Alexion’s July 2020 acquisition of Portola Pharmaceuticals, Inc. (Portola), Alexion assumed litigation to which Portola is a party. In January 2020, putative securities class action lawsuits were filed in the US District Court for the Northern District of California against Portola and certain officers and directors, on behalf of purchasers of Portola publicly traded securities during the period 8 January 2019 through 26 February 2020.The third amended complaint alleges that defendants made materially false and/or misleading statements or omissions about the demand for Andexxa Andexxa Shareholder Litigation – Alexion (US) In December 2016, putative securities class action lawsuits were filed in the US District Court for the District of Connecticut (the District Court) against Alexion and certain officers and directors, on behalf of purchasers of Alexion publicly traded securities during the period 30 January 2014 through 26 May 2017. The amended complaint alleges that defendants engaged in securities fraud, including by making misrepresentations and omissions in its public disclosures concerning Alexion’s Soliris Syntimmune In connection with Alexion’s prior acquisition of Syntimmune, Inc., (Syntimmune) a clinical-stage biotechnology company developing an antibody therapy targeting the FcRn, in the US, in December 2020, Alexion was served with a lawsuit filed by the stockholders’ representative for Syntimmune in Delaware State Court that alleged, among other things, breaches of contractual obligations relating to the 2018 merger agreement. The stockholders’ representative alleges that Alexion failed to meet its obligations under the merger agreement to use commercially reasonable efforts to achieve the milestones, and the plaintiff has requested payment of all milestone obligations. Alexion also filed a claim for breach of the representations in the 2018 merger agreement regarding unusable drug product and drug substance that Alexion acquired from Syntimmune. Trial in the matter is scheduled for November 2022. Government investigations/proceedings Toprol-XL Louisiana Attorney General Litigation In July 2020, the Louisiana First Circuit Court of Appeals (the Appellate Court) reversed and remanded a Louisiana state trial court (the Trial Court) ruling that had granted AstraZeneca’s motion for summary judgment and dismissed a state court complaint, brought by the Attorney General for the State of Louisiana (the State), alleging that AstraZeneca engaged in unlawful monopolisation and unfair trade practices in connection with the enforcement of its Toprol-XL Vermont US Attorney Investigation In April 2020, AstraZeneca received a Civil Investigative Demand from the US Attorney’s Office in Vermont and the Department of Justice, Civil Division, seeking documents and information relating to AstraZeneca’s relationships with electronic health-record vendors. AstraZeneca is co-operating with this enquiry. US 340B Litigations and Proceedings AstraZeneca is involved in several matters relating to its contract pharmacy recognition policy under the 340B Drug Pricing Program in the US. In 2020, three lawsuits were filed by covered entities and advocacy groups against the US Department of Health and Human Services, the US Health Resources and Services Administration as well as other US government agencies and their officials. The complaints allege, among other things, that these agencies should enforce an interpretation of the governing statute for the 340B Drug Pricing Program that would require drug manufacturers participating in the program to offer their drugs for purchase at statutorily capped rates to an unlimited number of contract pharmacies. AstraZeneca has sought to intervene in the lawsuits. Two of the three cases are currently stayed pending further proceedings and the third case has been dismissed. Administrative Dispute Resolution proceedings have also been initiated against AstraZeneca before the US Health Resources and Services Administration. In February 2021, AstraZeneca received a Civil Investigative Subpoena from the Attorney General’s Office for the State of Vermont seeking documents and information relating to AstraZeneca’s contract pharmacy recognition policy under the 340B Drug Pricing Program. AstraZeneca has cooperated with the inquiry. In January 2021, AstraZeneca filed a separate lawsuit in federal court in Delaware alleging that an Advisory Opinion issued by the Department of Health and Human Services violates the Administrative Procedure Act. In June 2021, the Court found in favour of AstraZeneca, invalidating the Advisory Opinion. Prior to the Court’s ruling, however, in May 2021, the US government issued new and separate letters to AstraZeneca (and other companies) asserting that our contract pharmacy policy violates the 340B statute. In July 2021, AstraZeneca amended the complaint to include allegations challenging the letter sent in May. In September 2021, the US government issued a follow-up letter to AstraZeneca (and other companies) asserting that it has referred the matter to the Office of Inspector General for further review and consideration. In October 2021, oral argu

Statutory and other information

Statutory and other information	12 Months Ended
Statutory and other information	Dec. 31, 2021
Statutory and other information
Statutory and other information	31 Statutory and other information 2021 2020 2019 $m $m $m Fees payable to PricewaterhouseCoopers LLP and its associates: Group audit fee 10.5 6.3 3.9 Fees payable to PricewaterhouseCoopers LLP and its associates for other services: The audit of subsidiaries pursuant to legislation 15.2 10.8 8.3 Attestation under s404 of Sarbanes-Oxley Act 2002 2.0 2.0 2.0 Audit-related assurance services 4.5 0.7 0.3 Other assurance services 3.4 0.2 0.1 Fees payable to PricewaterhouseCoopers Associates in respect of the Group’s pension schemes: The audit of subsidiaries’ pension schemes 0.3 0.3 0.3 35.9 20.3 14.9 $0.4m of fees payable in 2021 are in respect of the Group audit and audit of subsidiaries related to prior years (2020: $0.8m in respect of the 2019 Group audit and audit of subsidiaries). $0.3m of audit fees and $0.7m of Audit-related and Other assurance services relate to pre-acquisition fees incurred by Alexion. Included in Audit-related and Other assurance services are $6.1m of services provided in relation to the acquisition of Alexion and related debt issuance. 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. 2021 2020 2019 $’000 $’000 $’000 Short-term employee benefits 32,985 29,126 31,329 Post-employment benefits 1,378 1,602 1,766 Share-based payments 45,234 27,666 19,210 79,597 58,394 52,305 Total remuneration is included within employee costs (see Note 29).

Subsequent Events

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2021
Subsequent Events
Subsequent Events	32 Subsequent events On 4 January 2022, AstraZeneca completed the sale of the global rights to Tudorza and Duaklir to Covis Pharma GmbH for an upfront payment of $270 m, which will be recorded within Other operating income and expense. The intangible assets of $368 m associated with this transaction were classified as Assets held for sale as at 31 December 2021 (Note 18).

Group Accounting Policies (Poli

Group Accounting Policies (Policies)	12 Months Ended
Group Accounting Policies (Policies)	Dec. 31, 2021
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 UK-adopted International Accounting Standards and with the requirements of the Companies Act 2006 as applicable to companies reporting under those standards. The Consolidated Financial Statements also comply fully with International Financial Reporting Standards (IFRSs) as issued by the International Accounting Standards Board (IASB) and International Accounting Standards as adopted by the European Union. 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.
Adoption of new accounting standards	UK-adopted International Accounting Standards On 31 December 2020, EU-adopted IFRS was brought into UK law and became UK-adopted International Accounting Standards, with future changes to IFRS being subject to endorsement by the UK Endorsement Board. The Consolidated Financial Statements transitioned to UK-adopted International Accounting Standards for financial periods beginning 1 January 2021. This change constitutes a change in accounting framework. However, there is no impact on recognition, measurement or disclosure in the period reported as a result of the change in framework. IFRS 9, IFRS 7 The replacement of benchmark interest rates such as LIBOR and other interbank offered rates (IBORs) is a priority for global regulators. Phase 2 amendments to IFRS 9 ‘Financial Instruments’ and IFRS 7 ‘Financial Instruments: Disclosures’ were issued in August 2021 and have been adopted by the Group for 2021 reporting. As at 31 December 2021, the Group held instruments totalling $1,439m that reference USD LIBOR but will either have matured or will have their last LIBOR fixings set before the relevant USD LIBORs cease publication on 30 June 2023. These instruments include floating rate bonds, interest rate swaps and other arrangements. The Group also has $4bn of term bank loans that currently reference US LIBOR but these agreements have a mandatory switch from US LIBOR to an alternative risk free rate on 30 June 2023, should the Group not elect to do so before that date.
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 2021, the Group has $11.2bn in financial resources (cash and cash equivalent balances of $6.3bn and undrawn committed bank facilities of $4.9bn available until April 2025 with only $1.9bn of borrowings due within one year). All facilities contain no financial covenants and were undrawn at 31 December 2021. The Directors have considered the impact of COVID-19 on AstraZeneca’s operations and mitigations to these risks. Overall, the impact of these items would heighten certain risks, such as those relating to the delivery of the pipeline or launch of new medicines, the execution of AstraZeneca’s commercial strategy, the manufacturing and supply of medicines and reliance on third-party goods and services. The Group is continuously monitoring, and mitigating where possible, impacts of these risks. The Group’s revenues are largely derived from sales of medicines 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 some of our significant markets. The Group, however, anticipates new revenue streams from both recently launched medicines and those 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 139 and Note 1 on page 145 > expensing of internal development expenses – see Research and Development Policy on page 140 > impairment reviews of Intangible assets – see Note 10 on page 156 > useful economic life of Intangible assets – see Research and Development Policy on page 140 and Note 10 on page 156 > business combinations and Goodwill (and Contingent consideration arising from business combinations) – see Business Combinations and Goodwill Policy on page 142, Note 10 on page 156, Note 20 on page 166 and Note 27 on page 178 > litigation liabilities – see Litigation and Environmental Liabilities within Note 30 on page 189 > operating segments – see Note 6 on page 152 > employee benefits – see Note 22 on page 168 > taxation – see Taxation Policy on page 141 and Note 30 on page 189. AstraZeneca has assessed the impact of the uncertainty presented by the COVID-19 pandemic on the Financial Statements, specifically considering the impact on key judgements and significant estimates along with several other areas of increased risk. A detailed assessment has been performed, focusing on the following areas: > recoverable value of goodwill, intangible assets and property, plant and equipment > impact on key assumptions used to estimate contingent consideration liabilities > key assumptions used in estimating the Group’s defined benefit pension obligations > basis for estimating clinical trial accruals > key assumptions used in estimating rebates and chargebacks for US Product Sales > valuations of unlisted equity investments > expected credit losses associated with changes in credit risk relating to trade and other receivables > net realisable value of inventories > fair value of certain financial instruments > recoverability of deferred tax assets > effectiveness of hedge relationships. No material accounting impacts relating to the areas assessed above were recognised in the year. The Group will continue to monitor these areas of increased judgement, estimation and risk for material changes. The Group has assessed the impact of climate risk on its financial reporting. The impact assessment was primarily focused on the valuation and useful lives of intangible assets and the identification and valuation of provisions and contingent liabilities, as these are judged to be the key areas that could be impacted by climate risks. No material accounting impacts or changes to judgements or other required disclosures were noted. Financial risk management policies are detailed in Note 28 to the Financial Statements from page 180. AstraZeneca’s management considers the following to be the most important accounting policies in the context of the Group’s operations.
Revenue	Revenue Revenue comprises 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. Revenue excludes 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 not 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 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. Contracts relating to the supply of Vaxzevria 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 sharing of profit 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 sharing of profit 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 cumulative 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 that is licensed as part of the arrangement, 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 licenced.
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 co-collaborator sharing of profit arising from collaborations, and foreign exchange gains and losses arising from business trading activities.
Research and development	Research and development Research expenditure is charged to profit and loss 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 2021, 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 with reference to the expiry of associated patents for the product, expectation around the competitive environment specific to the product and our detailed long-term risk-adjusted sales projections compiled annually across the Group and approved by the Board. The useful economic life can extend beyond patent expiry 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 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 156. 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 156. 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, a required rate of return 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 Operating profit.
Government grants	Government grants Government grants are recognised in the Consolidated Statement of Comprehensive Income so as to match with the related expenses that they are intended to compensate. Where grants are received in advance of the related expenses, they are initially recognised in the Consolidated Statement of Financial Position under Trade and other payables as deferred income and released to net off against the related expenditure when incurred. Each contract is assessed to determine whether there are both grant elements and supply of product which need to be separated. In each case, the contracts set out the specified terms for the supply of the product and the provisions for funding for certain costs, primarily research and development associated with the IP. It is considered whether there are any conditions for the funding to be refunded. The consideration in the contract is allocated between the grant and supply elements. The standalone selling price for the supply of products is determined by reference to observed prices with other customers. The amount allocated as a government grant is determined by reference to the specific agreed costs and activities identified in the contract as not directly attributable to the supply of product. Government grants are recorded as an offset to the relevant expense in the Consolidated Statement of Comprehensive Income and are capped to match the relevant costs incurred.
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 30 to the Financial Statements from page 189.
Share-based payments	Share-based payments All plans have been classified as equity settled after assessment. 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. Cash outflows relating to the vesting of share plans for our employees are recognised within operating activities, as they relate to employee remuneration. The cash flows relating to replacement awards issued to employees as part of the Alexion acquisition (see Note 27 from page 178) are classified within investing activities, as they are part of the aggregate cash flows arising from obtaining control of the subsidiary.
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
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 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 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 standalone 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 other assets There are no material lease agreements under which the Group is a lessor.
Business combinations and goodwill	Business combinations and goodwill In assessing whether an acquired set of assets and activities is a business or an asset, management will first elect whether to apply an optional concentration test to simplify the assessment. Where the concentration test is applied, the acquisition will be treated as the acquisition of an asset if substantially all of the fair value of the gross assets acquired (excluding cash and cash equivalents, deferred tax assets, and related goodwill) is concentrated in a single asset or group of similar identifiable assets. Where the concentration test is not applied, or is not met, a further assessment of whether the acquired set of assets and activities is a business will be performed. The determination of whether an acquired set of assets and activities is a business or an asset can be judgemental, particularly if the target is not producing outputs. Management uses a number of factors to make this determination, which are primarily focused on whether the acquired set of assets and activities include substantive processes that mean the set is 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 key judgement; refer to Note 27 to the Financial Statements on page 178 for additional details of the 2021 acquisition. 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 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 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 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 The timing and amount of future contingent elements of consideration is considered a significant estimate; see Note 20 from page 166. 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
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. Control is normally evidenced by holding more than 50% of the share capital of the company, however other agreements may be in place that result in control where they give AstraZeneca finance decision-making authority over the relevant activities of the company. 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 in Research and development expense 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 the 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 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. Cash and cash equivalents in the Consolidated Statement of Cash Flows include unsecured bank overdrafts at the balance sheet date where balances often fluctuate between a cash and overdraft position.
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 the Consolidated Statement of Comprehensive Income.
Other investments	Other investments Investments are classified as fair value through profit or loss (FVPL), unless the Group makes an irrevocable election at initial recognition for certain non- current equity investments to present changes in Other comprehensive income (FVOCI). 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.
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 and 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 the Consolidated Statement of Comprehensive Income.
Derivatives	Derivatives Derivatives are initially measured at fair value (with direct transaction costs being included in profit as an expense) and are subsequently remeasured
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 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
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 30 to the Financial Statements on page 189. 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 the Consolidated Statement of Comprehensive Income 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 at the relevant risk free rate 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 the Consolidated Statement of Comprehensive Income.
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, loans and other borrowings, lease liabilities, current and non-current investments, 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, together with the Group's approach to capital management, 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 138.
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 and European 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. At 31 December 2021, the Group was 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 was A3 Negative outlook by Moody’s and A- Stable outlook by Standard and Poor’s.
Interest rate risk	Interest rate risk The Group maintains a Board approved mix of fixed and floating rate debt and uses underlying debt, 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 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 are recorded 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, certain amendments were in issue relating to the following standards and interpretations but not yet adopted by the Group: > amendments to IAS 12 'Income Taxes', IAS 8 'Accounting Policies, Changes in Accounting Estimates and Errors', IAS 1 'Presentation of Financial Statements' and IFRS Practice Statement 2 ‘Making materiality judgements’ , effective for periods beginning on or after 1 January 2023 - not endorsed by the UK Endorsement Board (UKEB); > amendments to IAS 37 'Provisions, Contingent Liabilities and Contingent Assets', IAS 16 'Property, Plant and Equipment' and IFRS 3 'Business Combinations', effective for periods beginning on or after 1 January 2022 - not endorsed by the UKEB; > amendments to IAS 1 'Presentation of Financial Statements', effective for periods beginning on or after 1 January 2024 – not endorsed by the UKEB; and > amendments to IFRS 16 'Leases', effective for periods beginning on or after 1 April 2021 - endorsed by the UKEB on 12 May 2021. These amendments and interpretations are not expected to have a significant impact on the Group’s net results.

Revenue (Tables)

Revenue (Tables)	12 Months Ended
Revenue (Tables)	Dec. 31, 2021
Revenues
Schedule of revenue	2021 2020 2019 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 1,336 1,780 986 913 5,015 1,208 1,566 748 806 4,328 762 1,268 474 685 3,189 Imfinzi 277 1,245 485 405 2,412 158 1,185 370 329 2,042 30 1,041 179 219 1,469 Lynparza 384 1,087 618 259 2,348 264 876 435 201 1,776 133 626 287 152 1,198 Calquence 20 1,089 111 18 1,238 6 511 2 3 522 2 162 – – 164 Koselugo 1 104 3 – 108 – 38 – – 38 – – – – – Enhertu 12 – 4 1 17 – – – – – – – – – – Orpathys 16 – – – 16 – – – – – – – – – – Zoladex 619 13 147 169 948 561 5 140 182 888 492 7 135 179 813 Faslodex 167 30 113 121 431 180 55 221 124 580 198 328 229 137 892 Iressa 151 11 5 16 183 221 14 12 21 268 286 17 70 50 423 Casodex 105 – 3 35 143 133 – 3 36 172 127 – 16 57 200 Arimidex 106 – 4 29 139 147 – 3 35 185 152 – 28 45 225 Others 29 – 5 16 50 28 – 4 19 51 29 – 5 60 94 3,223 5,359 2,484 1,982 13,048 2,906 4,250 1,938 1,756 10,850 2,211 3,449 1,423 1,584 8,667 Cardiovascular, Renal & Metabolism: Farxiga 1,195 732 810 263 3,000 686 569 507 197 1,959 471 537 373 162 1,543 Brilinta 328 735 346 63 1,472 461 732 342 58 1,593 462 710 351 58 1,581 Bydureon 3 321 55 6 385 4 382 53 9 448 11 459 66 13 549 Onglyza 179 88 61 32 360 201 166 58 45 470 176 230 70 51 527 Byetta 12 26 11 6 55 8 37 14 9 68 12 68 19 11 110 Other Diabetes 18 22 17 2 59 7 25 13 2 47 1 40 9 2 52 Lokelma 3 115 13 44 175 5 57 4 10 76 – 13 1 – 14 Roxadustat 174 – – – 174 – – – – – – – – – – Crestor 775 80 52 189 1,096 748 92 129 211 1,180 806 104 148 220 1,278 Seloken/Toprol-XL 928 1 11 11 951 782 13 16 10 821 686 37 25 12 760 Atacand 28 4 65 – 97 175 10 35 23 243 160 12 30 19 221 Others 137 – 53 6 196 126 – 57 8 191 193 (1) 59 20 271 3,780 2,124 1,494 622 8,020 3,203 2,083 1,228 582 7,096 2,978 2,209 1,151 568 6,906 Respiratory & Immunology: Symbicort 609 1,065 670 384 2,728 567 1,022 694 438 2,721 547 829 678 441 2,495 Fasenra 20 790 286 162 1,258 12 603 203 131 949 5 482 118 99 704 Pulmicort 770 72 73 47 962 798 71 73 54 996 1,190 110 81 85 1,466 Daliresp/Daxas 4 207 15 1 227 4 190 22 1 217 4 184 26 1 215 Breztri 55 115 7 26 203 14 5 – 9 28 – – – 2 2 Bevespi 4 39 11 – 54 1 44 3 – 48 – 42 – – 42 Saphnelo – 8 – – 8 – – – – – – – – – – Others 287 108 185 14 594 203 6 176 13 398 241 6 204 16 467 1,749 2,404 1,247 634 6,034 1,599 1,941 1,171 646 5,357 1,987 1,653 1,107 644 5,391 Rare Disease: Soliris 170 1,068 439 197 1,874 – – – – – – – – – – Ultomiris 9 381 169 129 688 – – – – – – – – – – Strensiq 10 297 36 35 378 – – – – – – – – – – Andexxa – 50 18 – 68 – – – – – – – – – – Kanuma 7 32 20 3 62 – – – – – – – – – – 196 1,828 682 364 3,070 – – – – – – – – – – Other: Nexium 705 128 62 431 1,326 757 169 71 495 1,492 748 218 63 454 1,483 Synagis 35 23 203 149 410 – 47 325 – 372 – 46 312 – 358 FluMist 2 27 222 2 253 1 70 219 5 295 – 20 93 – 113 Losec/Prilosec 152 1 26 1 180 152 6 20 5 183 179 10 49 25 263 Seroquel XR/ 46 12 29 5 92 55 17 29 16 117 50 34 88 19 191 Others 14 30 54 8 106 6 55 56 9 126 12 108 64 9 193 954 221 596 596 2,367 971 364 720 530 2,585 989 436 669 507 2,601 COVID-19: Vaxzevria 2,240 64 1,035 578 3,917 – – 2 – 2 – – – – – Evusheld 19 – 66 – 85 – – – – – – – – – – 2,259 64 1,101 578 4,002 – – 2 – 2 – – – – – Product Sales 12,161 12,000 7,604 4,776 36,541 8,679 8,638 5,059 3,514 25,890 8,165 7,747 4,350 3,303 23,565
Collaboration Revenue
Revenues
Schedule of revenue	2021 2020 2019 $m $m $m Royalty income 138 62 62 Global co-development and commercialisation of Lynparza Koselugo 400 460 610 Transfer of rights to Zoladex – 35 – Enhertu 193 94 – Roxadustat: share of gross profits 6 30 – Nexium: sale of rights 75 – – Licence agreement for Crestor – – 39 Co-development and commercialisation of MEDI8897 with Sanofi – – 34 Grant of authorised generic rights to various medicines in Japan – – 19 Other collaboration revenue 64 46 55 876 727 819

Operating profit (Tables)

Operating profit (Tables)	12 Months Ended
Operating profit (Tables)	Dec. 31, 2021
Other Operating Income and Expense
Schedule of other operating income and expense	2021 2020 2019 $m $m $m Royalties Income 63 149 146 Amortisation (1) (2) (4) Gains on disposal of intangible assets 513 1,030 1,243 Gains on disposal of investments in associates and joint ventures 776 – – Net (losses)/gains on disposal of other non-current assets (4) 25 (21) Impairment of property, plant and equipment – (12) – Other income 1 453 406 285 Other expense (308) (68) (108) Other operating income and expense 1,492 1,528 1,541 1 Other income in 2021 includes $99m of payments from Allergan in respect of the development of brazikumab (2020: $107m; 2019: $nil).
Schedule of restructuring costs	2021 2020 2019 $m $m $m Cost of sales 722 53 73 Research and development expense 223 35 101 Selling, general and administrative expense 338 162 173 Other operating income and expense – 1 – Total charge 1,283 251 347 2021 2020 2019 $m $m $m Severance costs 217 26 137 Accelerated depreciation and impairment charges 1 371 17 (67) Other 2 695 208 277 Total charge 1,283 251 347 1 Included within accelerated depreciation and impairment in 2019 is a credit relating to the impairment reversal of two manufacturing sites in Colorado, US. Refer to Note 7 for further details. 2 Other costs are those incurred in designing and implementing the Group’s various restructuring initiatives, including costs of integrating systems, structure and processes as part of our Post Alexion Acquisition Group Review, costs relating to the Alexion acquisition, internal project costs and external consultancy fees.
Schedule of net gains and losses on financial instruments included within operating profit	2021 2020 2019 $m $m $m Losses on forward foreign exchange contracts (21) (86) (112) (Losses)/gains on receivables and payables (42) 89 66 Total (63) 3 (46)

Finance income and expense (Tab

Finance income and expense (Tables)	12 Months Ended
Finance income and expense (Tables)	Dec. 31, 2021
Finance income and expense
Schedule of net finance expense	2021 2020 2019 $m $m $m Finance income Returns on fixed deposits and equity securities 1 1 1 Returns on short-term deposits 11 40 122 Fair value gains on debt and interest rate swaps – 4 7 Discount unwind on other long-term assets – 6 20 Interest income on income tax balances 31 36 22 Total 43 87 172 Finance expense Interest on debt and commercial paper (700) (669) (698) Interest on overdrafts, lease liabilities and other financing costs (74) (67) (74) Net interest on post-employment defined benefit plan net liabilities (Note 22) (26) (37) (53) Net exchange losses (20) (34) (30) Discount unwind on contingent consideration arising from business combinations (Note 20) (226) (278) (356) Discount unwind on other long-term liabilities 1 (248) (219) (213) Fair value losses on debt and interest rate swaps (4) – – Interest expense on income tax balances (2) (2) (8) Total (1,300) (1,306) (1,432) Net finance expense (1,257) (1,219) (1,260) 1 Included within Discount unwind on other long-term liabilities is $161m relating to the Acerta Pharma share purchase liability (2020: $151m; 2019: $136m), see Note 20 for further details.
Schedule of net gains and losses on financial instruments	2021 2020 2019 $m $m $m Interest and fair value adjustments in respect of debt designated at fair value through profit or loss, net of derivatives (5) (8) (12) Interest and changes in carrying values of debt designated as hedged items in fair value hedges, net of derivatives (9) (6) (10) Interest and fair value changes on fixed and short-term deposits, equity securities, other derivatives and tax balances 16 42 110 Interest on debt, commercial paper, overdrafts and lease liabilities held at amortised cost (738) (660) (662)

Taxation (Tables)

Taxation (Tables)	12 Months Ended
Taxation (Tables)	Dec. 31, 2021
Taxation
Schedule of taxation, comprehensive income	2021 2020 2019 $m $m $m Current tax expense Current year 1,200 981 1,243 Adjustment to prior years (5) (10) 66 Total 1,195 971 1,309 Deferred tax expense Origination and reversal of temporary differences (1,417) (178) (875) Adjustment to prior years (158) (21) (113) Total (1,575) (199) (988) Taxation recognised in the profit for the period (380) 772 321 Taxation relating to components of Other comprehensive income is as follows: 2021 2020 2019 $m $m $m Current and deferred tax Items that will not be reclassified to profit or loss: Remeasurement of the defined benefit liability (117) 36 81 Net losses/(gains) on equity investments measured at fair value through other comprehensive income 27 (180) (60) Deferred tax (credit)/charge relating to change of tax rates 195 63 – Total 105 (81) 21 Items that may be reclassified subsequently to profit or loss: Foreign exchange arising on consolidation 57 (61) 34 Foreign exchange arising on designated borrowings in net investment hedges (19) 22 4 Deferred tax charge relating to change of tax rates 8 – – Total 46 (39) 38 Taxation relating to components of other comprehensive income 151 (120) 59
Schedule of tax reconciliation to UK statutory rate	2021 2020 2019 $m $m $m (Loss)/profit before tax (265) 3,916 1,548 Notional taxation charge at UK corporation tax rate of 19% (50) 744 294 Differences in effective overseas tax rates 1 (49) (49) Deferred tax charge relating to change in tax rates 1 54 138 39 Unrecognised deferred tax asset 2 32 3 (16) Items not deductible for tax purposes 208 36 92 Items not chargeable for tax purposes (163) (4) (13) Other items 3 (299) (65) 21 Adjustments in respect of prior periods 4 (163) (31) (47) Total tax (credit)/charge for the year (380) 772 321 1 The 2021 item relates to substantive enactment of the increase in UK Corporation Tax rate from 19% to 25% effective 1 April 2023 (debit of $12 m), the increase in the Dutch Corporate Income Tax rate from 25% to 25.8% effective 1 January 2022 (debit of $39 m) and other (debit of $3 m). The 2020 item relates to the increase in the 2020 substantively enacted Dutch Corporate Income Tax rate (debit of $151 m) and other (debit of $5 m). In 2020, it was substantively enacted that the planned reduction in the Dutch Corporate Income Tax rate to 21.7% from 25% effective 1 January 2021 would not take place. In addition, the planned reduction in the UK corporation tax rate to 17% was not enacted with the corporation tax rate remaining at 19% (credit of $18 m). The 2019 item relates to the increase in the 2019 substantively enacted Dutch Corporate Income Tax rate (debit of $66 m) and other (credit of $27 m). In 2019, it was substantively enacted that the Dutch Corporate Income Tax rate for the year ended 31 December 2020 would increase from 22.55% to 25% and effective 1 January 2021 would increase from 20.5% to 21.7% . 2 The 2021 item includes a $15 m debit arising on de-recognition of previously recognised deferred tax assets. The 2020 item includes a $22 m credit arising on recognition of previously unrecognised deferred tax assets. The 2019 item includes a $27 m credit arising on recognition of previously unrecognised deferred tax assets. 3 Other items in 2021 relate to a net credit of $299 m relating to the reduction of tax liabilities arising from updates to estimates of prior period tax liabilities following settlements with tax authorities and on expiry of the relevant statute of limitations partially offset by a provision for transfer pricing and other contingencies. Other items in 2020 relate to a net credit of $65 m relating to the release of tax contingencies following the expiry of the relevant statute of limitations partially offset by a provision for transfer pricing and other contingencies. Other items in 2019 relate to a charge of $309 m relating to collaboration and divestment activity, a credit of $70 m relating to internal transfers of intellectual property and a net credit of $218 m 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 for transfer pricing and other contingencies. 4 Further details explaining the adjustments in respect of prior periods is set out on page 149.
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 2019 (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 – – – – – 12 12 Exchange 14 (4) 1 22 18 1 52 Net deferred tax balance at 31 December 2019 (2,265) 561 1,293 (598) 546 691 228 Income statement (226) (64) 444 (92) 136 1 199 Other comprehensive income (78) 101 – (1) – 72 94 Equity – – – – – (16) (16) Exchange (58) 58 70 (110) 32 23 15 Net deferred tax balance at 31 December 2020 (2,627) 656 1,807 (801) 714 771 520 Income statement 782 (166) (59) (139) 307 850 1,575 Other comprehensive income 52 83 – – – 40 175 Equity – – – – – 14 14 Additions through business combinations 3 (3,744) 13 166 – 507 (1,116) (4,174) Exchange 57 (33) (53) 78 (10) (25) 14 Net deferred tax balance at 31 December 2021 4 (5,480) 553 1,861 (862) 1,518 534 (1,876) 1 Includes deferred tax of $367m on contingent consideration liabilities in respect of intangibles. 2 Untaxed reserves relate to taxable profits where the tax liability is deferred to later periods. 3 The deferred tax liability of $4,174m relates to the acquisition of Alexion (Note 27) from page 178. 4 The Group recognises deferred tax assets to the extent that it is probable that sufficient future taxable profits will arise, against which these deductible temporary differences can be utilised. The US includes a net deferred tax asset of $245m and the UK includes a net deferred tax asset of $1,070m as at 31 December 2021 which include tax losses and other deductible temporary differences. The Group has performed an assessment of recovery of deferred tax assets and for these entities, the Group has forecasted future taxable profits and considers that it is probable that sufficient future taxable profits will arise against which these deductible temporary differences can be utilised. In arriving at these forecasts, the Group has reviewed the Group level budgets and forecasts and the ability of those entities to generate future income from developing and commercialising products, including local tax laws and the scheduling of reversal of deductible temporary differences and losses are forecast to be utilised within ten years. It is considered that these sources of income are sufficiently predictable or diversified to support a recognition period in excess of five years. A sensitivity assessment has been performed which shows that there is minimal impact on timing of reversal. Assessing the availability of future taxable income to support recognition of deferred tax assets is considered a key judgement and changes in Group forecasts will impact the recoverability of deferred tax assets. To the extent that this is not the case, no deferred tax asset is recognised and details of unrecognised deferred tax assets are included in the table below.
Schedule of unrecognised deferred tax assets	2021 2021 2020 2020 2019 2019 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 4 1 2 – 33 9 More than 10 years 53 11 – – 1 – Indefinite 300 79 234 63 218 62 357 91 236 63 252 71 Tax credits and State tax losses expiring: Within 10 years 101 36 44 More than 10 years 441 255 259 Indefinite 86 74 67 628 365 370 Total 719 428 441
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 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 Deferred tax assets at 31 December 2020 1,061 690 2,286 – 852 1,130 6,019 Deferred tax liabilities at 31 December 2020 (3,688) (34) (479) (801) (138) (359) (5,499) Net deferred tax balance at 31 December 2020 (2,627) 656 1,807 (801) 714 771 520 Deferred tax assets at 31 December 2021 1,476 574 1,910 – 1,571 1,735 7,266 Deferred tax liabilities at 31 December 2021 (6,956) (21) (49) (862) (53) (1,201) (9,142) Net deferred tax balance at 31 December 2021 (5,480) 553 1,861 (862) 1,518 534 (1,876)
After the offset of balances within countries
Taxation
Schedule of net deferred tax balance	2021 2020 2019 $m $m $m Deferred tax assets 4,330 3,438 2,718 Deferred tax liabilities (6,206) (2,918) (2,490) Net deferred tax balance (1,876) 520 228

Earnings per $0.25 Ordinary S_2

Earnings per $0.25 Ordinary Share (Tables)	12 Months Ended
Earnings per $0.25 Ordinary Share (Tables)	Dec. 31, 2021
Earnings per $0.25 Ordinary Share
Schedule of Earnings per Ordinary Share	2021 2020 2019 Profit for the year attributable to equity holders ($m) 112 3,196 1,335 Basic earnings per Ordinary Share $0.08 $2.44 $1.03 Diluted earnings per Ordinary Share $0.08 $2.44 $1.03 Weighted average number of Ordinary Shares in issue for basic earnings (millions) 1,418 1,312 1,301 Dilutive impact of share options outstanding (millions) 9 1 – Diluted weighted average number of Ordinary Shares in issue (millions) 1,427 1,313 1,301

Segment information (Tables)

Segment information (Tables)	12 Months Ended
Segment information (Tables)	Dec. 31, 2021
Segment information
Tabular disclosure of information by geographic area	Total Revenue 2021 2020 2019 $m $m $m UK 3,245 1,741 1,822 Rest of Europe France 915 653 578 Germany 1,486 937 704 Italy 577 431 396 Spain 578 398 359 Sweden 2,322 1,026 834 Others 1,949 1,391 1,291 7,827 4,836 4,162 The Americas Canada 772 596 466 US 12,047 8,955 8,047 Others 1,203 761 814 14,022 10,312 9,327 Asia, Africa & Australasia Australia 547 282 266 China 6,002 5,345 4,867 Japan 3,395 2,567 2,522 Others 2,379 1,534 1,418 12,323 9,728 9,073 Total Revenue 37,417 26,617 24,384 Total Revenue outside of the UK totalled $34,172m for the year ended 31 December 2021 (2020: $24,876m; 2019: $22,562m). Operating profit/(loss) (Loss)/profit before tax 2021 2020 2019 2021 2020 2019 $m $m $m $m $m $m UK (950) 824 466 (1,477) 518 93 Rest of Europe 2,999 2,838 1,502 2,682 2,356 1,006 The Americas (1,936) 758 (8) (2,401) 297 (474) Asia, Africa & Australasia 943 742 964 931 745 923 Continuing operations 1,056 5,162 2,924 (265) 3,916 1,548
Tabular disclosure of assets by geographic area	Non-current assets 1 Total assets 2021 2020 2019 2021 2020 2019 $m $m $m $m $m $m UK 7,692 7,900 6,874 16,615 17,851 15,302 Rest of Europe 39,171 15,821 15,245 48,383 19,738 18,182 The Americas 26,570 18,501 19,663 34,301 23,640 23,380 Asia, Africa & Australasia 1,254 1,354 1,253 6,064 5,500 4,513 Continuing operations 74,687 43,576 43,035 105,363 66,729 61,377 Assets acquired 2 Net operating assets 3 2021 2020 2019 2021 2020 2019 $m $m $m $m $m $m UK 810 1,611 2,255 3,239 5,244 4,206 Rest of Europe 26,527 505 386 40,161 10,242 9,201 The Americas 10,810 286 236 24,786 15,697 15,929 Asia, Africa & Australasia 94 116 120 736 607 1,432 Continuing operations 38,241 2,518 2,997 68,922 31,790 30,768 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) and include those acquired through business combinations (Note 27). 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 2021 2020 2019 $m $m $m UK 2,542 2,227 1,920 Ireland 969 – – Sweden 1,593 1,755 1,488 US 2,660 2,662 2,758 Rest of the world 1,419 1,607 1,522 Continuing operations 9,183 8,251 7,688
Tabular disclosure of product sales	2021 2020 2019 $m $m $m UK 1,206 611 458 Rest of Europe 6,792 4,446 3,891 The Americas 14,893 10,004 9,032 Asia, Africa & Australasia 13,650 10,829 10,184 Continuing operations 36,541 25,890 23,565

Property, plant and equipment (

Property, plant and equipment (Tables)	12 Months Ended
Property, plant and equipment (Tables)	Dec. 31, 2021
Disclosure of 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 2019 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 Capital expenditure 10 42 874 926 Transfer of assets into use 137 462 (599) – Disposals and other movements (48) (615) (18) (681) Exchange adjustments 220 466 135 821 At 31 December 2020 5,851 7,738 2,478 16,067 Additions through business combinations (Note 27) 542 339 254 1,135 Capital expenditure 9 31 1,112 1,152 Transfer of assets into use 236 611 (847) – Disposals and other movements (92) (469) (200) (761) Exchange adjustments (169) (347) (69) (585) At 31 December 2021 6,377 7,903 2,728 17,008 Depreciation and impairment At 1 January 2019 2,504 4,714 – 7,218 Depreciation charge for the year 209 438 – 647 Impairment (reversal)/charge (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 Depreciation charge for the year 227 462 – 689 Impairment (reversal)/charge (1) 2 12 13 Disposals and other movements (42) (606) (12) (660) Exchange adjustments 137 324 – 461 At 31 December 2020 2,826 4,990 – 7,816 Depreciation charge for the year 231 493 – 724 Impairment (reversal)/charge (1) 121 223 343 Disposals and other movements (74) (428) (223) (725) Exchange adjustments (105) (228) – (333) At 31 December 2021 2,877 4,948 – 7,825 Net book value At 31 December 2019 3,027 2,575 2,086 7,688 At 31 December 2020 3,025 2,748 2,478 8,251 At 31 December 2021 3,500 2,955 2,728 9,183
Schedule of net book value of land and buildings	2021 2020 2019 $m $m $m The net book value of land and buildings comprised: Freeholds 2,985 2,583 2,657 Leaseholds 515 442 370

Leases (Tables)

Leases (Tables)	12 Months Ended
Leases (Tables)	Dec. 31, 2021
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 Additions – separately acquired 87 89 15 191 Disposals and other movements – (27) (2) (29) Exchange adjustments 21 8 1 30 At 31 December 2020 735 272 36 1,043 Additions through business combinations (Note 27) 255 8 – 263 Additions – separately acquired 145 98 2 245 Disposals and other movements 25 (44) (4) (23) Exchange adjustments (27) (13) (1) (41) At 31 December 2021 1,133 321 33 1,487 Depreciation and impairment At 1 January 2019 – – – – Depreciation charge for the year 130 70 7 207 Impairment charge 4 – – 4 Disposals and other movements (3) (6) 1 (8) Exchange adjustments 1 – – 1 At 31 December 2019 132 64 8 204 Depreciation charge for the year 131 75 9 215 Disposals and other movements (24) (26) (4) (54) Exchange adjustments 8 4 – 12 At 31 December 2020 247 117 13 377 Depreciation charge for the year 144 85 6 235 Disposals and other movements (54) (42) – (96) Exchange adjustments (11) (6) – (17) At 31 December 2021 326 154 19 499 Net book value At 31 December 2019 495 138 14 647 At 31 December 2020 488 155 23 666 At 31 December 2021 807 167 14 988
Schedule of the present value of lease liabilities	2021 2020 2019 $m $m $m The present value of lease liabilities is as follows: Within one year (233) (192) (188) Later than one year and not later than five years (544) (389) (368) Later than five years (210) (100) (119) Total lease liabilities (987) (681) (675)

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
Goodwill (Tables)	Dec. 31, 2021
Goodwill.
Schedule of changes in Goodwill	2021 2020 2019 $m $m $m Cost At 1 January 12,164 11,982 12,022 Additions through business combinations (Note 27) 8,287 – – Exchange and other adjustments (140) 182 (40) At 31 December 20,311 12,164 11,982 Amortisation and impairment losses At 1 January 319 314 315 Exchange and other adjustments (5) 5 (1) At 31 December 314 319 314 Net book value At 31 December 19,997 11,845 11,668

Intangible assets (Tables)

Intangible assets (Tables)	12 Months Ended
Intangible assets (Tables)	Dec. 31, 2021
Intangible assets
Schedule of intangible assets	Product, Software marketing and Other development distribution rights intangibles costs Total $m $m $m $m Cost At 1 January 2019 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 Additions – separately acquired 1,454 2 136 1,592 Disposals (970) (66) (636) (1,672) Exchange and other adjustments 1,539 57 7 1,603 At 31 December 2020 42,677 2,642 1,288 46,607 Additions through business combinations (Note 27) 26,455 430 70 26,955 Additions – separately acquired 587 6 119 712 Transferred to Assets held for sale (Note 18) (1,266) (47) – (1,313) Disposals (801) (402) (23) (1,226) Exchange and other adjustments (1,062) (18) (22) (1,102) At 31 December 2021 66,590 2,611 1,432 70,633 Amortisation and impairment losses At 1 January 2019 17,907 2,035 1,600 21,542 Amortisation for year 1,808 52 68 1,928 Impairment charges 1,034 – 2 1,036 Impairment reversals (3) – – (3) Disposals (29) – (147) (176) Exchange and other adjustments (112) 10 26 (76) At 31 December 2019 20,605 2,097 1,549 24,251 Amortisation for year 1,872 59 61 1,992 Impairment charges 405 – – 405 Impairment reversals (165) – – (165) Disposals (899) (66) (636) (1,601) Exchange and other adjustments 746 38 (6) 778 At 31 December 2020 22,564 2,128 968 25,660 Amortisation for year 2,908 172 63 3,143 Impairment charges 2,067 – 18 2,085 Transferred to Assets held for sale (Note 18) (931) (14) – (945) Disposals (797) (402) (21) (1,220) Exchange and other adjustments (535) (21) (26) (582) At 31 December 2021 25,276 1,863 1,002 28,141 Net book value At 31 December 2019 20,049 552 232 20,833 At 31 December 2020 20,113 514 320 20,947 At 31 December 2021 41,314 748 430 42,492 2021 2020 2019 $m $m $m Net book value Current intangible assets 105 – – Non-current intangible assets 42,387 20,947 20,833 At 31 December 42,492 20,947 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 2019 Cost of sales 87 – – 87 Research and development expense – 29 – 29 Selling, general and administrative expense 1,721 19 68 1,808 Other operating income and expense – 4 – 4 Total 1,808 52 68 1,928 Year ended 31 December 2020 Cost of sales 66 – – 66 Research and development expense – 29 – 29 Selling, general and administrative expense 1,806 28 61 1,895 Other operating income and expense – 2 – 2 Total 1,872 59 61 1,992 Year ended 31 December 2021 Cost of sales 66 – – 66 Research and development expense – 33 – 33 Selling, general and administrative expense 2,842 138 63 3,043 Other operating income and expense – 1 – 1 Total 2,908 172 63 3,143
Summary of impairment charges	Product, Software marketing and Other development distribution rights intangibles costs Total $m $m $m $m Year ended 31 December 2019 Research and development expense 609 – – 609 Selling, general and administrative expense 425 – 2 427 Other operating income and expense (3) – – (3) Total 1,031 – 2 1,033 Year ended 31 December 2020 Research and development expense 55 – – 55 Selling, general and administrative expense 185 – – 185 Total 240 – – 240 Year ended 31 December 2021 Research and development expense 1,464 – – 1,464 Selling, general and administrative expense 603 – 18 621 Total 2,067 – 18 2,085
Summary of significant intangible assets	Carrying value Remaining amortisation $m period C5 franchise ( Soliris/Ultomiris 17,724 6 to 15 years Intangible assets arising from the acquisition of Acerta Pharma 5,299 11 years Strensiq, Kanuma Andexxa 5,019 11 to 17 years Intangible asset products in development arising from the acquisition of Alexion 1 2,760 Not amortised Intangible assets arising from the acquisition of ZS Pharma 2,381 10 years Enhertu 1,684 12 years Other intangible assets (DS-1062) acquired from Daiichi Sankyo 1 1,050 Not amortised Farxiga Forxiga 739 5 years Intangible assets arising from the restructuring of a historical joint venture with MSD 666 5 to 8 years Intangible assets arising from the acquisition of Pearl Therapeutics 611 7 to 8 years RSV franchise assets arising from the acquisition of MedImmune 611 4 years Monalizumab intangible assets acquired from Innate Pharma 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
Investments in associates and joint ventures (Tables)	Dec. 31, 2021
Investments in associates and joint ventures
Schedule of investments in associates and joint ventures	2021 2020 2019 $m $m $m At 1 January 39 58 89 Additions 92 8 74 Share of after tax losses (64) (27) (116) Exchange and other adjustments 2 – 11 At 31 December 69 39 58
Schedule of summarised financial information for the associate and joint venture entities	2021 2020 2019 $m $m $m Non-current assets 215 324 298 Current assets 506 552 447 Total liabilities (99) (105) (89) Net assets 622 771 656 Amount attributable to AstraZeneca 65 38 64 Exchange adjustments 4 1 (6) Carrying value of investments in associates and joint ventures 69 39 58

Other investments (Tables)

Other investments (Tables)	12 Months Ended
Other investments (Tables)	Dec. 31, 2021
Other investments
Schedule of other investments	2021 2020 2019 $m $m $m Non-current investments Equity securities at fair value through Other comprehensive income 1,168 1,108 1,339 Fixed income securities at fair value through profit and loss – – 62 Total 1,168 1,108 1,401 Current investments Fixed income securities at fair value through profit and loss 16 118 811 Fixed deposits 53 42 38 Total 69 160 849
Schedule of analysis equity securities and bonds available for sale	2021 2021 2020 2020 2019 2019 FVPL FVOCI FVPL FVOCI FVPL FVOCI $m $m $m $m $m $m Level 1 16 1,064 118 891 873 1,112 Level 2 – – – – – – Level 3 – 104 – 217 – 227 Total 16 1,168 118 1,108 873 1,339
Schedule of fair value movements in level 3 investments	2021 2020 2019 FVOCI FVOCI FVOCI $m $m $m At 1 January 217 227 166 Additions 1 96 5 Revaluations – 63 56 Net transfers (out)/in (113) (103) 2 Disposals – (86) (5) Impairments and exchange adjustments (1) 20 3 At 31 December 104 217 227

Derivative financial instrume_2

Derivative financial instruments (Tables)	12 Months Ended
Derivative financial instruments (Tables)	Dec. 31, 2021
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 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 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 45 – – – 45 Cross currency swaps designated in a net investment hedge 19 – – (2) 17 Cross currency swaps designated in a cash flow hedge 107 43 – – 150 Cross currency swaps designated in a fair value hedge 1 – 43 – – 43 Forward FX designated in a cash flow hedge 2 – 8 (3) – 5 Other derivatives – 48 (30) – 18 31 December 2020 171 142 (33) (2) 278 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 25 – – – 25 Cross currency swaps designated in a net investment hedge 62 – – (2) 60 Cross currency swaps designated in a cash flow hedge – – – (43) (43) Forward FX designated in a cash flow hedge 2 – 13 – – 13 Other derivatives 15 70 (79) – 6 31 December 2021 102 83 (79) (45) 61 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. The swap matured in November 2021 when the related bond matured. 2 Forward FX designated in a cash flow hedge relates to contracts hedging anticipated CNY, EUR, GBP, JPY and SEK transactions occurring in the quarter immediately after the balance sheet date.
Schedule of interest rates on derivative financial instruments	2021 2020 2019 Derivatives (0.5) % to 3.6 % (0.5) % to 2.4 % (0.5) % to 2.7 %

Non-current other receivables (

Non-current other receivables (Tables)	12 Months Ended
Non-current other receivables (Tables)	Dec. 31, 2021
Non-current other receivables
Schedule of non-current other receivables	2021 2020 2019 $m $m $m Prepayments 391 395 392 Accrued income 61 56 10 Other receivables 443 269 338 Non-current other receivables 895 720 740

Inventories (Tables)

Inventories (Tables)	12 Months Ended
Inventories (Tables)	Dec. 31, 2021
Inventories
Schedule of inventories	2021 2020 2019 $m $m $m Raw materials and consumables 1,755 1,262 830 Inventories in process 5,216 1,331 1,272 Finished goods and goods for resale 2,012 1,431 1,091 Inventories 8,983 4,024 3,193

Current trade and other recei_2

Current trade and other receivables (Tables)	12 Months Ended
Current trade and other receivables (Tables)	Dec. 31, 2021
Current trade and other receivables
Schedule of trade, other current receivables and prepayments	2021 2020 2019 $m $m $m Amounts due within one year Trade receivables 6,054 3,829 3,606 Less: Amounts provided for doubtful debts (Note 28) (23) (23) (21) 6,031 3,806 3,585 Other receivables 1,808 1,278 1,083 Prepayments 1,512 1,735 865 Government grants receivable – 53 – Accrued income 293 150 228 Trade and other receivables 9,644 7,022 5,761

Cash and cash equivalents (Tabl

Cash and cash equivalents (Tables)	12 Months Ended
Cash and cash equivalents (Tables)	Dec. 31, 2021
Cash and cash equivalents.
Summary of cash and cash equivalents	2021 2020 2019 $m $m $m Cash at bank and in hand 1,461 1,182 755 Short-term deposits 4,868 6,650 4,614 Cash and cash equivalents 6,329 7,832 5,369 Unsecured bank overdrafts (291) (286) (146) Cash and cash equivalents in the cash flow statement 6,038 7,546 5,223
Summary of non-cash and other movements within operating activities	2021 2020 2019 $m $m $m Changes in fair value of put option (Acerta Pharma) – – 172 Share-based payments charge for the period 615 277 259 Settlement of share plan awards (570) (349) (323) Pension contributions (174) (172) (175) Pension charges recorded in operating profit 136 84 59 Long-term provision charges recorded in operating profit 270 66 506 Non-cash intangible additions – (120) – Foreign exchange and other (182) (62) (120) Total operating activities non-cash and other movements 95 (276) 378

Interest-bearing loans and bo_2

Interest-bearing loans and borrowings (Tables)	12 Months Ended
Interest-bearing loans and borrowings (Tables)	Dec. 31, 2021
Interest-bearing loans and borrowings
Schedule of interest bearing loans and borrowings	Repayment 2021 2020 2019 dates $m $m $m Current liabilities Bank overdrafts On demand 291 286 146 Other short-term borrowings excluding overdrafts 3 84 8 Bank collateral 93 288 71 Lease liabilities 233 192 188 2.375% Callable bond US dollars 2020 – – 1,597 0.25% Callable bond euros 2021 – 614 – 0.875% Non-callable bond euros 2021 – 919 – Floating rate notes US dollars 2022 250 – – 2.375% Callable bond US dollars 2022 999 – – Other loans (including commercial paper) Within one year 24 3 – Total 1,893 2,386 2,010 Non-current liabilities Lease liabilities 754 489 487 0.25% Callable bond euros 2021 – – 559 0.875% Non-callable bond euros 2021 – – 837 Floating rate notes US dollars 2022 – 250 250 2.375% Callable bond US dollars 2022 – 996 996 0.3% Callable bond US dollars 2023 1,397 – – 2023 Floating bank loan US dollars 2023 1,998 – – Floating rate notes US dollars 2023 400 400 400 3.5% Callable bond US dollars 2023 848 847 846 7% Guaranteed debentures US dollars 2023 320 339 335 0.75% Callable bond euros 2024 1,014 1,102 1,003 0.7% Callable bond US dollars 2024 1,598 – – 2024 Floating bank loan US dollars 2024 1,997 – – 3.375% Callable bond US dollars 2025 1,988 1,985 1,983 0.7% Callable bond US dollars 2026 1,193 1,192 – 1.2% Callable bond US dollars 2026 1,245 – – 3.125% Callable bond US dollars 2027 745 744 743 1.25% Callable bond euros 2028 896 973 885 1.75% Callable bond US dollars 2028 1,244 – – 4% Callable bond US dollars 2029 994 993 992 0.375% Callable bond euros 2029 898 – – 1.375% Callable bond US dollars 2030 1,292 1,291 – 2.25% Callable bond US dollars 2031 746 – – 5.75% Non-callable bond pounds sterling 2031 470 475 457 6.45% Callable bond US dollars 2037 2,724 2,722 2,721 4% Callable bond US dollars 2042 988 988 987 4.375% Callable bond US dollars 2045 980 980 980 4.375% Callable bond US dollars 2048 737 737 737 2.125% Callable bond US dollars 2050 486 486 – 3% Callable bond US dollars 2051 734 – – Other loans US dollars 202 5 19 Total 28,888 17,994 16,217 Total interest-bearing loans and borrowings 1, 2 30,781 20,380 18,227 1 All loans and borrowings above are unsecured apart from $24m of current and $188m of non-current in 2021, both included within Other loans. 2 The $2bn USD 2023 floating rate loan and $2bn USD 2024 floating rate loan pay interest linked to 1 month LIBOR. The Group has the right to switch these loans to compounded daily USD Secured Overnight Funding Rate (SOFR) with five days notice. The loans will automatically switch to compounded SOFR on 30 June 2023 if the Group has not already switched before this date. All other floating rate debt is not impacted by LIBOR reference as it either uses non-LIBOR fixings or will mature before the relevant LIBOR rate is withdrawn.
Schedule of reconciliation of interest bearing loans and borrowings	Total Total Total loans and loans and loans and borrowings borrowings borrowings 2021 2020 2019 $m $m $m At 1 January 20,380 18,227 19,113 Adoption of new accounting standards – Lease liabilities – – 720 Changes from financing cash flows Issue of loans and borrowings 12,929 2,968 500 Repayment of loans and borrowings (4,759) (1,609) (1,500) Movement in short-term borrowings (276) 288 (516) Repayment of obligations under leases (240) (207) (186) Total changes in cash flows arising on financing activities from borrowings 7,654 1,440 (1,702) Movement in overdrafts 31 138 (13) New lease liabilities 503 174 173 Additions through business combinations 2,523 – – Exchange (378) 363 (62) Other movements 68 38 (2) At 31 December 30,781 20,380 18,227
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 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 2020 Overdrafts – – – 286 286 286 Lease liabilities due within one year – – – 192 192 192 Lease liabilities due after more than one year – – – 489 489 489 Loans due within one year 371 – 614 923 1,908 1,922 Loans due after more than one year – 339 2,075 15,091 17,505 20,936 Total at 31 December 2020 371 339 2,689 16,981 20,380 23,825 2021 Overdrafts – – – 291 291 291 Lease liabilities due within one year – – – 233 233 233 Lease liabilities due after more than one year – – – 754 754 754 Loans due within one year – – – 1,369 1,369 1,378 Loans due after more than one year – 320 1,910 25,904 28,134 30,596 Total at 31 December 2021 – 320 1,910 28,551 30,781 33,252 1 Instruments designated as hedged items in a fair value hedge relationship relate to a designated euro 300 m portion of our euro 750 m 0.875% 2021 non-callable bond which matured on 24 November 2021. The accumulated amount of fair value hedge adjustments to the bond was a loss of $10 m. 2 Instruments designated at fair value through profit or loss include the US dollar 7% guaranteed debentures repayable in 2023.
Schedule of interest rates used to discount future cash flows for fair value adjustments	2021 2020 2019 Loans and borrowings 0.1 % to 0.6 % (0.5) % to 0.1 % (0.5) % to 1.6 %

Trade and other payables (Table

Trade and other payables (Tables)	12 Months Ended
Trade and other payables (Tables)	Dec. 31, 2021
Trade and other payables
Schedule of Trade and other payables	2021 2020 2019 $m $m $m Current liabilities Trade payables 2,824 2,350 1,774 Value-added and payroll taxes and social security 463 390 323 Rebates, chargebacks, returns and other revenue accruals 5,298 4,772 4,410 Clinical trial accruals 1,047 699 736 Other accruals 5,649 3,905 4,026 Collaboration Revenue contract liabilities 12 12 28 Vaccine contract liabilities 1,003 1,616 – Deferred government grant income 67 253 – Contingent consideration 849 647 897 Acerta Pharma share purchase liability (Note 26) 920 – – Other payables 806 1,141 1,793 Total 18,938 15,785 13,987 Non-current liabilities Accruals 25 56 34 Collaboration Revenue contract liabilities 26 38 50 Contingent consideration 2,016 2,676 3,242 Acerta Pharma share purchase/put option liability (Note 26) 1,538 2,297 2,146 Other payables 1,328 1,017 819 Total 4,933 6,084 6,291
Schedule of Contingent consideration	2021 2020 2019 $m $m $m At 1 January 3,323 4,139 5,106 Settlements (643) (822) (709) Revaluations 14 (272) (614) Reclassification to Other payables (55) – – Discount unwind (Note 3) 226 278 356 At 31 December 2,865 3,323 4,139
Schedule of maximum development and sales milestones payable under outstanding contingent consideration	Nature of Maximum future milestones Acquisitions Year contingent consideration $m Spirogen 2013 Milestones 180 Amplimmune 2013 Milestones 150 Almirall 1 2014 Milestones and royalties 420 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
Provisions (Tables)	Dec. 31, 2021
Provisions.
Schedule of provisions	Employee Other Severance Environmental benefits Legal provisions Total $m $m $m $m $m $m At 1 January 2019 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 Transfers in – – – – 258 258 Charge for year 116 34 15 16 95 276 Cash paid (62) (30) (48) (295) (56) (491) Reversals (89) – (2) (14) (27) (132) Exchange and other movements 8 – 33 (1) 45 85 At 31 December 2020 214 100 128 348 770 1,560 Additions through business combinations (Note 27) – – 41 73 27 141 Charge for year 238 23 46 109 456 872 Cash paid (172) (32) (49) (285) (84) (622) Reversals (62) – – (5) (175) (242) Exchange and other movements (6) (1) 29 (1) (6) 15 At 31 December 2021 212 90 195 239 988 1,724
Provision maturity period	2021 2020 2019 $m $m $m Due within one year 768 976 723 Due after more than one year 956 584 841 Total 1,724 1,560 1,564

Post-retirement and other def_2

Post-retirement and other defined benefit schemes (Tables)	12 Months Ended
Post-retirement and other defined benefit schemes (Tables)	Dec. 31, 2021
Post-retirement and other defined benefit schemes
Schedule of financial assumptions for major defined benefit schemes	2020 UK US Sweden Rest of Group 4 Inflation assumption 2.9 % – 1.5 % 1.6 % Rate of increase in salaries – 1 – 3.0 % 3.1 % Rate of increase in pensions in payment 2.8 % – 1.5 % 1.6 % Discount rate – defined benefit obligation 1.4 % 2.5 % 1.2 % 0.7 % Discount rate – interest cost 1.1 % 1.8 % 1.0 % 0.5 % Discount rate – service cost 1.4 % 1.7 % 1.2 % 0.8 % 2021 UK US Sweden Rest of Group 4 Inflation assumption 3.3 % – 2.3 % 2.2 % Rate of increase in salaries – 1 – 3.8 % 3.7 % Rate of increase in pensions in payment 3.1 % – 2.3 % 2.2 % Discount rate – defined benefit obligation 2 1.9 % 2.8 % 1.8 % 1.2 % Discount rate – interest cost 3 1.9 % 2.2 % 1.6 % 1.0 % Discount rate – service cost 3 1.9 % n/a % 1.9 % 1.4 % 1 Pensionable pay frozen at 30 June 2010 levels following UK fund changes. 2 Group defined benefit obligation as at 31 December 2021 calculated using discount rates based on market conditions as at 31 December 2021. 3 2021 interest costs and service costs calculated using discount rates based on market conditions as at 31 December 2020. 4 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 2021 2041 2020 2040 2021 2041 2020 2040 UK 22.5 23.7 22.4 23.7 23.9 25.2 23.9 25.1 US 21.9 23.2 21.8 24.5 23.3 24.9 23.2 26.1 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 evolve to further improve the expected risk/return profile as opportunities arise. The Trustee has hedged approximately 75% 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 96% of total assets and protects to some degree against falls in long-term interest rates (approximately 91% hedged at the end of 2020). 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%). It was confirmed in November 2020, the intention to align RPI with Consumer Price Index including Housing (CPIH) from 2030. 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 76% of total assets and protects to some degree against higher-than-expected inflation increases on the DBO (approximately 83% hedged at the end of 2020). 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 $2.4 bn of the UK Pension Fund’s liabilities. A one-year increase in life expectancy would result in a $390 m increase in pension fund obligations, which would be partially offset by a $203 m increase in the value of the longevity swap and hence the pension fund assets. The impact of the COVID-19 pandemic on long-term mortality assumptions is not yet known. The Group will conduct a mortality review once robust data is available.
Schedule of fair values of scheme assets	Scheme assets 2020 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 1,929 – 321 – – – 52 – 2,302 – 2,302 Corporate bonds 2 – – 878 – – – 30 – 908 – 908 Derivatives 3 – (170) – – – 333 1 – 1 163 164 Investment funds: Listed Equities 4 – 1,771 93 90 – 119 72 5 165 1,985 2,150 Investment funds: Absolute Return/Multi Strategy 4 2,463 – 72 – 668 12 – 12 3,203 3,215 Investment funds: Corporate Bonds/Credit 4 – 969 – 80 – 211 39 12 39 1,272 1,311 Cash and cash equivalents 64 153 31 – – 7 – 4 95 164 259 Other – – – 5 – – (1) 355 (1) 360 359 Total fair value of scheme assets 5 1,993 5,186 1,323 247 – 1,338 205 376 3,521 7,147 10,668 2021 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 2,500 – 303 – – – 75 – 2,878 – 2,878 Corporate bonds 2 – – 877 – – – 16 – 893 – 893 Derivatives 3 – (237) 2 (1) – 259 (1) – 1 21 22 Investment funds: Listed Equities 4 – 1,427 – – – 134 55 6 55 1,567 1,622 Investment funds: Absolute Return/Multi Strategy 4 – 2,342 – – – 647 8 – 8 2,989 2,997 Investment funds: Corporate Bonds/Credit 4 – 1,006 – – – 192 53 11 53 1,209 1,262 Cash and cash equivalents 34 261 227 – – 2 – 2 261 265 526 Other – – – 5 – – 1 358 1 363 364 Total fair value of scheme assets 5 2,534 4,799 1,409 4 – 1,234 207 377 4,150 6,414 10,564 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 171. 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), Corporate Bonds/Credit (a range of investment grade and non-investment grade credit) and Absolute Return/Multi Strategy (multi-asset exposure both across and within traditional and alternative asset classes). 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 (2020: $ 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 2020 UK US Sweden Rest of Group Total $m $m $m $m $m Present value of scheme obligations in respect of: Active membership (598) (99) (953) (468) (2,118) Deferred membership (1,887) (787) (783) (504) (3,961) Pensioners (5,940) (715) (789) (347) (7,791) Total value of scheme obligations (8,425) (1,601) (2,525) (1,319) (13,870) 2021 UK US Sweden Rest of Group Total $m $m $m $m $m Present value of scheme obligations in respect of: Active membership (532) (81) (926) (523) (2,062) Deferred membership (1,709) (693) (718) (465) (3,585) Pensioners (5,700) (630) (729) (312) (7,371) Total value of scheme obligations (7,941) (1,404) (2,373) (1,300) (13,018) Net deficit in the scheme 2020 UK US Sweden Rest of Group Total $m $m $m $m $m Total fair value of scheme assets 7,179 1,570 1,338 581 10,668 Total value of scheme obligations (8,425) (1,601) (2,525) (1,319) (13,870) Deficit in the scheme as recognised in the Consolidated Statement of Financial Position (1,246) (31) (1,187) (738) (3,202) 2021 UK US Sweden Rest of Group Total $m $m $m $m $m Total fair value of scheme assets 7,333 1,413 1,234 584 10,564 Total value of scheme obligations (7,941) (1,404) (2,373) (1,300) (13,018) Deficit in the scheme as recognised in the Consolidated Statement of Financial Position (608) 9 (1,139) (716) (2,454) Fair value of scheme assets 2021 2020 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 7,179 1,570 1,338 581 10,668 6,464 1,506 1,123 512 9,605 Interest income on scheme assets 75 27 12 4 118 111 39 14 5 169 Expenses (7) – – – (7) (6) (2) – (1) (9) Actuarial gains/(losses) 372 (22) 62 3 415 501 148 84 27 760 Exchange and other adjustments (77) (5) (132) 1 (213) 299 – 162 38 499 Employer contributions 122 19 5 28 174 131 14 2 25 172 Participant contributions 2 – – 2 4 2 – – 2 4 Benefits paid (333) (176) (51) (35) (595) (323) (135) (47) (27) (532) Scheme assets’ fair value at end of year 7,333 1,413 1,234 584 10,564 7,179 1,570 1,338 581 10,668 The actual return on the plan assets was a gain of $533m (2020: gain of $929m). Movement in post-retirement scheme obligations 2021 2020 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 (8,425) (1,601) (2,525) (1,319) (13,870) (7,580) (1,592) (2,160) (1,080) (12,412) Current service cost (18) (2) (69) (34) (123) (18) (1) (59) (26) (104) Past service (cost)/credit (4) – (1) – (5) (9) 64 (2) (24) 29 Participant contributions (2) – – (2) (4) (2) – – (2) (4) Benefits paid 333 176 51 35 595 323 135 47 27 532 Interest expense on post-retirement scheme obligations (87) (28) (22) (8) (145) (130) (40) (26) (10) (206) Actuarial gains/(losses) 199 46 (43) 9 211 (637) (167) (28) (96) (928) Exchange and other adjustments 63 5 236 19 323 (372) – (297) (108) (777) Present value of obligations in scheme at end of year (7,941) (1,404) (2,373) (1,300) (13,018) (8,425) (1,601) (2,525) (1,319) (13,870) The obligations arise from the following plans: 2021 2020 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 (7,927) (1,178) (2,371) (1,160) (12,636) (8,405) (1,335) (2,525) (603) (12,868) Funded – post-retirement healthcare – (143) – – (143) – (169) – – (169) Unfunded – pension schemes – (83) (2) (127) (212) – (97) – (696) (793) Unfunded – post-retirement healthcare (14) – – (13) (27) (20) – – (20) (40) Total (7,941) (1,404) (2,373) (1,300) (13,018) (8,425) (1,601) (2,525) (1,319) (13,870)
Schedule of amounts charged to Consolidated Statement of Comprehensive Income, in respect of defined benefit schemes	2021 2020 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) (2) (69) (35) (124) (18) (1) (59) (26) (104) Past service (cost)/credit (4) – (1) – (5) (9) 64 (2) (24) 29 Expenses (7) – – – (7) (6) (2) – (1) (9) Total (charge)/credit to Operating profit (29) (2) (70) (35) (136) (33) 61 (61) (51) (84) Finance expense Interest income on scheme assets 75 27 12 5 119 111 39 14 5 169 Interest expense on post-retirement scheme obligations (87) (28) (22) (8) (145) (130) (40) (26) (10) (206) Net interest on post-employment defined benefit plan liabilities (12) (1) (10) (3) (26) (19) (1) (12) (5) (37) (Charge)/credit before taxation (41) (3) (80) (38) (162) (52) 60 (73) (56) (121) Other comprehensive income Difference between the actual return and the expected return on the post-retirement scheme assets 372 (22) 62 3 415 501 148 84 27 760 Experience (losses)/gains arising on the post-retirement scheme obligations (43) (9) – 74 22 43 (19) (24) (17) (17) Changes in financial assumptions underlying the present value of the post-retirement scheme obligations 239 59 (43) (61) 194 (649) (160) (4) (79) (892) Changes in demographic assumptions 3 (4) – (4) (5) (31) 12 – – (19) Remeasurement of the defined benefit liability 571 24 19 12 626 (136) (19) 56 (69) (168)
Schedule of pension cost	2021 2020 $m $m Defined contribution schemes 428 351 Defined benefit schemes − current service costs and expenses 131 113 Defined benefit schemes − past service credit 5 (29) Pension costs 564 435
Schedule of rate sensitivities of significant actuarial assumptions	2021 2020 +0.5% −0.5% +0.5% −0.5% Discount rate UK ($m) 565 (634) 610 (687) US ($m) 79 (84) 93 (99) Sweden ($m) 197 (226) 214 (246) Total ($m) 841 (944) 917 (1,032) 2021 2020 +0.5% −0.5% +0.5% −0.5% Inflation rate 1 UK ($m) (386) 375 (396) 378 US ($m) n/a n/a n/a n/a Sweden ($m) (207) 196 (245) 216 Total ($m) (593) 571 (641) 594 2021 2020 +0.5% −0.5% +0.5% −0.5% Rate of increase in salaries UK ($m) n/a n/a n/a n/a US ($m) n/a n/a n/a n/a Sweden ($m) (90) 82 (62) 70 Total ($m) (90) 82 (62) 70 2021 2020 +1 year −1 year +1 year −1 year Mortality rate UK ($m) (390) 2 388 3 (396) 395 US ($m) (29) 29 (32) 32 Sweden ($m) (94) 93 (106) 96 Total ($m) (513) 510 (534) 523 1 Rate of increase in pensions in payment follows inflation. 2 Of the $390 m increase, $203 m is covered by the longevity swap. 3 Of the $388 m decrease, $203 m is covered by the longevity swap.

Reserves (Tables)

Reserves (Tables)	12 Months Ended
Reserves (Tables)	Dec. 31, 2021
Reserves
Reconciliation of reserves	2021 2020 2019 $m $m $m Cumulative translation differences included within Retained earnings At 1 January (1,143) (2,189) (2,007) Foreign exchange arising on consolidation (483) 443 40 Exchange adjustments on goodwill (recorded against other reserves) (21) 22 (5) Foreign exchange arising on designated borrowings in net investment hedges 1 (321) 573 (252) Fair value movements on derivatives designated in net investment hedges 34 8 35 Net exchange movement in Retained earnings (791) 1,046 (182) At 31 December (1,934) (1,143) (2,189) 1 Foreign exchange arising on designated borrowings in net investment hedges includes $100m in respect of designated bonds and $(421)m in respect of designated contingent consideration and other liabilities. The change in value of designated contingent consideration liabilities relates to $(266)m in respect of BMS’ share of Global Diabetes Alliance, $(5)m in respect of Almirall and $(150)m in relation to the Acerta Pharma share purchase liability.

Share capital (Tables)

Share capital (Tables)	12 Months Ended
Share capital (Tables)	Dec. 31, 2021
Share capital of the Company
Summary of classes of share capital	Allotted, called-up and fully paid 2021 2020 2019 $m $m $m Issued Ordinary Shares ($0.25 each) 387 328 328 Redeemable Preference Shares (£1 each – £50,000) – – – At 31 December 387 328 328
Summary of movement of ordinary shares	No. of shares 2021 2020 2019 At 1 January 1,312,668,724 1,312,137,976 1,267,039,436 Issue of shares (share placing) – – 44,386,214 Issue of share capital (business combinations) 236,321,411 – – Issue of shares (share schemes) 410,530 530,748 712,326 At 31 December 1,549,400,665 1,312,668,724 1,312,137,976

Dividends to shareholders (Tabl

Dividends to shareholders (Tables)	12 Months Ended
Dividends to shareholders (Tables)	Dec. 31, 2021
Dividends to shareholders
Summary of dividends to shareholders	2021 2020 2019 2021 2020 2019 Per share Per share Per share $m $m $m Second interim (March 2021) $1.90 $1.90 $1.90 2,490 2,489 2,403 First interim (September 2021) $0.90 $0.90 $0.90 1,392 1,180 1,180 Total $2.80 $2.80 $2.80 3,882 3,669 3,583
Reconciliation of dividends paid	2021 2020 2019 $m $m $m Dividends charged to equity 3,882 3,669 3,583 Exchange losses on payment of dividend 3 4 5 Hedge contracts relating to payment of dividends (cash flow statement) (29) (101) 4 Dividends paid (cash flow statement) 3,856 3,572 3,592

Non-controlling interests (Tabl

Non-controlling interests (Tables)	12 Months Ended
Non-controlling interests (Tables)	Dec. 31, 2021
Non-controlling interests.
Summarised financial information for non-controlling interests	2019 $m Total Revenue – Loss after tax (422) Other comprehensive income – Total comprehensive loss (422) 2019 $m Non-current assets 157 Current assets 475 Total assets 632 Current liabilities (310) Non-current liabilities (267) Total liabilities (577) Net assets 55 2019 $m Net cash outflow from operating activities (13) Net cash inflow from investing activities 7 Net cash inflow from financing activities 7 Increase in cash and cash equivalents in the year 1

Acquisition of business opera_2

Acquisition of business operations (Tables)	12 Months Ended
Acquisition of business operations (Tables)	Dec. 31, 2021
Disclosure of detailed information about business combination [line items]
Schedule of fair values of intangible assets in business combination	Product, Software marketing and Other development distribution rights intangibles costs Total $m $m $m $m Cost At 1 January 2019 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 Additions – separately acquired 1,454 2 136 1,592 Disposals (970) (66) (636) (1,672) Exchange and other adjustments 1,539 57 7 1,603 At 31 December 2020 42,677 2,642 1,288 46,607 Additions through business combinations (Note 27) 26,455 430 70 26,955 Additions – separately acquired 587 6 119 712 Transferred to Assets held for sale (Note 18) (1,266) (47) – (1,313) Disposals (801) (402) (23) (1,226) Exchange and other adjustments (1,062) (18) (22) (1,102) At 31 December 2021 66,590 2,611 1,432 70,633 Amortisation and impairment losses At 1 January 2019 17,907 2,035 1,600 21,542 Amortisation for year 1,808 52 68 1,928 Impairment charges 1,034 – 2 1,036 Impairment reversals (3) – – (3) Disposals (29) – (147) (176) Exchange and other adjustments (112) 10 26 (76) At 31 December 2019 20,605 2,097 1,549 24,251 Amortisation for year 1,872 59 61 1,992 Impairment charges 405 – – 405 Impairment reversals (165) – – (165) Disposals (899) (66) (636) (1,601) Exchange and other adjustments 746 38 (6) 778 At 31 December 2020 22,564 2,128 968 25,660 Amortisation for year 2,908 172 63 3,143 Impairment charges 2,067 – 18 2,085 Transferred to Assets held for sale (Note 18) (931) (14) – (945) Disposals (797) (402) (21) (1,220) Exchange and other adjustments (535) (21) (26) (582) At 31 December 2021 25,276 1,863 1,002 28,141 Net book value At 31 December 2019 20,049 552 232 20,833 At 31 December 2020 20,113 514 320 20,947 At 31 December 2021 41,314 748 430 42,492 2021 2020 2019 $m $m $m Net book value Current intangible assets 105 – – Non-current intangible assets 42,387 20,947 20,833 At 31 December 42,492 20,947 20,833
Alexion Pharmaceuticals, Inc.
Disclosure of detailed information about business combination [line items]
Schedule of fair values in business combination	Fair value $m Non-current assets Property, plant and equipment 1,135 Right-of-use assets 263 Intangible assets 26,855 Other non-current assets 301 28,554 Current assets Inventories 6,769 Trade and other receivables 2,096 Intangible assets 100 Cash and cash equivalents 4,086 13,051 Current liabilities Interest-bearing loans and borrowings (2,336) Trade and other payables (1,192) Other current liabilities (40) (3,568) Non-current liabilities Lease liabilities (228) Deferred tax liabilities (4,191) Other non-current liabilities (697) (5,116) Total net assets acquired 32,921 Less: non-controlling interests (150) Goodwill 8,287 Total fair value of consideration 41,058 Less: fair value of equity consideration (27,196) Less: fair value of replacement employee share awards (513) Less: cash and cash equivalents acquired (4,086) Net cash outflow 9,263
Schedule of fair values of intangible assets in business combination	Fair value Useful lives $m Years Launched products – C5 franchise ( Soliris Ultomiris 18,480 6 to 15 Launched products – Strensiq Kanuma Andexxa 5,215 11 to 17 Products in development 2,760 Not amortised Other intangibles 500 5 to 10 26,955

Financial risk management obj_2

Financial risk management objectives and policies (Tables)	12 Months Ended
Financial risk management objectives and policies (Tables)	Dec. 31, 2021
Financial risk
Schedule of Group's continuing hedge relationships	2019 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 2019 to OCI statement 2019 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 300 m 10 – – – – 2021 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 2,200 m (13) (92) 114 (52) (30) 2025 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 58.5 bn – (213) 4 – (209) 2019 78.01 JPY 0.35% Cross currency interest rate swap – JPY investment JPY 58.3 bn 4 – (4) – (4) 2029 108.03 JPY 1.53% Cross currency interest rate swap – CNY investment CNY 458 m (1) 4 (3) – 1 2026 6.68 CNY 4.80% Foreign currency borrowing – GBP investment GBP 350 m (457) (265) 14 – (251) 2031 n/a GBP 5.75% Foreign currency borrowing – EUR investment EUR 450 m (498) 44 (10) – 34 2021 n/a EUR 0.88% Contingent consideration liabilities and Acerta Pharma put option liability – AZUK and AZAB USD investments USD 5,583 m (5,583) 1,805 248 – 2,053 – – – 2020 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 2020 to OCI statement 2020 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 300 m 43 – – – – 2021 1.09 USD LIBOR + 1.27% Cash flow hedges – foreign currency and interest rate risk 2, 4, 6 Cross currency interest rate swaps – Euro bonds EUR 2,200 m 150 (30) (163) 239 46 2025 1.14 USD 2.69% FX Forwards − short term FX risk USD 618 m 5 – (20) 15 (5) 2021 – – Net investment hedge – foreign exchange risk 3, 4 Transactions matured pre 2020 – (565) – – (565) – – – Cross currency interest rate swap – JPY investment JPY 58.5 bn 19 (4) (15) – (19) 2029 108.03 JPY 1.53% Cross currency interest rate swap – CNY investment CNY 458 m (2) 1 1 – 2 2026 6.68 CNY 4.80% Foreign currency borrowing – GBP investment GBP 350 m (475) (251) 18 – (233) 2031 n/a GBP 5.75% Foreign currency borrowing – EUR investment EUR 450 m (548) 34 51 – 85 2021 n/a EUR 0.88% Contingent consideration liabilities and Acerta Pharma put option liability – AZUK and AZAB USD investments USD 5,252 m (5,252) 2,053 (642) – 1,411 – – – 2021 Other comprehensive income Fair value gain 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 2021 to OCI statement 2021 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 – – – – – – – – – – Cash flow hedges – foreign currency and interest rate risk 2, 4, 6 Cross currency interest rate swaps – Euro bonds EUR 1,700 m (43) 46 182 (201) 27 2026 1.14 USD 2.85% FX Forwards − USD 1,220 m 12 (5) – (7) (12) 2022 – – Net investment hedge – foreign exchange risk 3, 4 Transactions matured pre-2021 – (565) – – (565) – – – Cross currency interest rate swap – JPY investment JPY 58.3 bn 62 (19) (43) – (62) 2029 108.03 JPY 1.53% Cross currency interest rate swap – CNY investment CNY 458 m (2) 2 – – 2 2026 6.68 CNY 4.80% Foreign currency borrowing – GBP investment GBP 350 m 470 (233) (5) – (238) 2031 n/a GBP 5.75% Foreign currency borrowing - EUR investment 7 EUR 450 m – 85 (47) – 38 2021 n/a EUR 0.88% Foreign currency borrowing - EUR investment 8 EUR 800 m 898 – (50) – (50) 2029 n/a EUR 0.38% Contingent consideration liabilities and Acerta Pharma share purchase liability – AZUK and AZAB USD investments USD 2,658 m (2,658) 1,411 421 – 1,832 – – – 1 Swaps designated in a fair value hedge matured on 24 November 2021 and hedge ineffectiveness during the period was $nil (2020: gain of $1m). 2 Hedge ineffectiveness recognised on swaps designated in a cash flow hedge during the period was $nil (2020: $nil). 3 Hedge ineffectiveness recognised on swaps designated in a net investment hedge during the period was $nil (2020: $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 137, as its primary purpose was to hedge the translation foreign exchange risk arising on the consolidation of the Group’s net investment in Japan. 6 Nominal amount of FX forwards in a cash flow hedge of $1,220m represents the USD equivalent notional of the FX forwards. By currency, the nominal amounts were RMB 666m at FX rate 6.373, SEK 3,929m at 9.0742, JPY 19,289m at 115.1550, GBP 278m at 1.3506 and EUR 123m at 1.1306. All FX forwards in a cash flow hedge mature on 25 January 2022. 7 The EUR 450m net investment hedge matured in November 2021, when the hedging instrument, a EUR bond, matured. 8 On 3 June 2021, upon issuance of the EUR 800m 0.375% 2029 non-callable bond, EUR 550m was designated in a net investment hedge of the foreign currency exposure in relation of an equivalent amount of EUR-denominated net assets. The remaining EUR 250m was subsequently designated in a net investment hedge upon maturity of the EUR 450m bond on 24 November 2021.
Schedule of liquidity risk	Bank Total Derivative Derivative Total overdrafts Trade non-derivative financial financial derivative and other Lease and other financial instruments instruments financial loans Bonds liability payables instruments receivable 1 payable 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 Bank Total Derivative Derivative Total overdrafts Trade non-derivative financial financial derivative and other Lease and other financial instruments instruments financial loans Bonds liability payables instruments receivable payable instruments Total $m $m $m $m $m $m $m $m $m Within one year 667 2,136 207 15,812 18,822 (9,719) 9,620 (99) 18,723 In one to two years – 1,839 168 2,584 4,591 (60) 67 7 4,598 In two to three years – 2,101 120 1,658 3,879 (59) 67 8 3,887 In three to four years – 1,617 82 1,728 3,427 (1,151) 1,080 (71) 3,356 In four to five years – 2,502 53 722 3,277 (36) 40 4 3,281 In more than five years – 16,921 108 1,435 18,464 (1,707) 1,652 (55) 18,409 667 27,116 738 23,939 52,460 (12,732) 12,526 (206) 52,254 Effect of interest – (7,974) – – (7,974) 379 (405) (26) (8,000) Effect of discounting, fair values and issue costs (1) (109) (57) (2,070) (2,237) (70) 24 (46) (2,283) 31 December 2020 666 19,033 681 21,869 42,249 (12,423) 12,145 (278) 41,971 Bank Total Derivative Derivative Total overdrafts Trade non-derivative financial financial derivative and other Lease and other financial instruments instruments financial loans Bonds liability payables instruments receivable payable instruments Total $m $m $m $m $m $m $m $m $m Within one year 387 1,981 256 19,007 21,631 (11,766) 11,774 8 21,639 In one to two years – 5,647 210 2,521 8,378 (55) 66 11 8,389 In two to three years – 5,242 163 1,669 7,074 (1,060) 1,079 19 7,093 In three to four years – 2,591 130 862 3,583 (35) 39 4 3,587 In four to five years – 2,970 96 233 3,299 (118) 111 (7) 3,292 In more than five years – 19,727 221 2,212 22,160 (1,521) 1,480 (41) 22,119 387 38,158 1,076 26,504 66,125 (14,555) 14,549 (6) 66,119 Effect of interest – (8,609) – – (8,609) 299 (325) (26) (8,635) Effect of discounting, fair values and issue costs – (142) (89) (2,633) (2,864) (36) 7 (29) (2,893) 31 December 2021 387 29,407 987 23,871 54,652 (14,292) 14,231 (61) 54,591 1 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 161. In previous periods the table separately disclosed the net cash flows on interest rate swaps and cross-currency swaps.
Schedule of market risk	2021 2020 2019 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 1,232 661 1,893 1,357 1,029 2,386 1,785 225 2,010 Non-current 23,985 4,903 28,888 17,005 989 17,994 14,893 1,324 16,217 Total 25,217 5,564 30,781 18,362 2,018 20,380 16,678 1,549 18,227 Financial assets Fixed deposits 53 – 53 42 – 42 38 – 38 Cash and cash equivalents – 6,329 6,329 – 7,832 7,832 – 5,369 5,369 Total 53 6,329 6,382 42 7,832 7,874 38 5,369 5,407
Schedule of market risk on equity securities	2021 2020 2019 $m $m $m Equity securities at fair value through Other comprehensive income (Note 12) 1,168 1,108 1,339 Total 1,168 1,108 1,339
Schedule of foreign currency risk	Interest rates Exchange rates 31 December 2019 +1% −1% +10% −10% Increase/(decrease) in fair value of financial instruments ($m) 1,417 (1,521) (4) (36) Impact on profit: (loss)/gain ($m) – – (174) 172 Impact on equity: gain/(loss) ($m) – – 170 (208) Interest rates Exchange rates 31 December 2020 +1% −1% +10% −10% Increase/(decrease) in fair value of financial instruments ($m) 1,696 (1,758) 114 (132) Impact on profit: (loss)/gain ($m) – – (57) 74 Impact on equity: gain/(loss) ($m) – – 171 (206) Interest rates Exchange rates 31 December 2021 +1% −1% +10% −10% Increase/(decrease) in fair value of financial instruments ($m) 1,978 (2,106) 82 (85) Impact on profit: gain/(loss) ($m) – – 24 (9) Impact on equity: gain/(loss) ($m) – – 58 (76)
Schedule of the movement in provisions for trade receivables	2021 2020 2019 $m $m $m At 1 January 23 21 38 Net movement recognised in income statement (2) 3 (13) Amounts utilised, exchange and other movements 2 (1) (4) At 31 December 23 23 21
Credit risk assets
Financial risk
Schedule of credit risk	Current assets 2021 2020 2019 $m $m $m Cash at bank and in hand 1,461 1,182 755 Money market liquidity funds 4,772 6,602 4,110 Collateralised repurchase agreement – – 400 Other short-term cash equivalents 96 48 104 Total Cash and cash equivalents (Note 17) 6,329 7,832 5,369 Fixed income securities at fair value through profit and loss (Note 12) 16 118 811 Fixed deposits (Note 12) 53 42 38 Total derivative financial instruments (Note 13) 83 142 36 Current assets subject to credit risk 6,481 8,134 6,254 Non-current assets 2021 2020 2019 $m $m $m Fixed income securities at fair value through profit and loss (Note 12) – – 62 Derivative financial instruments (Note 13) 102 171 61 Non-current assets subject to credit risk 102 171 123
Trade receivables
Financial risk
Schedule of credit risk	0-90 days 90-180 days Over 180 days 31 December 2019 Current past due past due past due Total Expected loss rate 0.1 % 0.8 % 2.0 % 44.0 % Gross carrying amount ($m) 3,178 312 82 34 3,606 Loss allowance ($m) 2 2 2 15 21 0-90 days 90-180 days Over 180 days 31 December 2020 Current past due past due past due Total Expected loss rate 0.1 % 1.6 % 19.4 % 60.6 % Gross carrying amount ($m) 3,659 124 21 25 3,829 Loss allowance ($m) 2 2 4 15 23 0-90 days 90-180 days Over 180 days 31 December 2021 Current past due past due past due Total Expected loss rate 0.1 % 1.2 % 22.6 % 11.0 % Gross carrying amount ($m) 5,617 328 18 91 6,054 Loss allowance ($m) 5 4 4 10 23

Employee costs and share plan_2

Employee costs and share plans for employees (Tables)	12 Months Ended
Employee costs and share plans for employees (Tables)	Dec. 31, 2021
Share plans
Schedules of employee numbers	2021 2020 2019 Employees UK 8,900 7,900 7,400 Rest of Europe 18,300 16,600 15,500 The Americas 18,800 17,300 16,600 Asia, Africa & Australasia 33,600 33,000 27,800 Continuing operations 79,600 74,800 67,300
Schedule of employee costs	2021 2020 2019 $m $m $m Wages and salaries 7,633 6,273 5,648 Social security costs 886 726 658 Pension costs 564 435 491 Other employment costs 1,192 813 771 Total 10,275 8,247 7,568
AstraZeneca 2014 Performance Share Plan
Share plans
Schedule of shares awarded	Ordinary Shares WAFV 1 ADR Shares WAFV 1 ʼ 000 pence ʼ 000 $ Outstanding at 1 January 2019 2,682 2295 6,963 15.65 Granted 1,018 3147 1,978 21.06 Forfeited (350) 2317 (1,900) 16.80 Exercised (491) 1983 (1,835) 14.17 Outstanding at 31 December 2019 2,859 2649 5,206 17.80 Granted 932 3702 1,767 24.02 Forfeited (191) 3088 (478) 19.57 Cancelled (3) 2234 – – Exercised (552) 2426 (1,704) 15.43 Outstanding at 31 December 2020 3,045 2985 4,791 20.76 Granted 1,275 2485 2,082 17.18 Forfeited (220) 3005 (494) 20.53 Cancelled (9) 3653 – – Exercised (632) 2332 (1,201) 17.40 Outstanding at 31 December 2021 3,459 2919 5,178 20.12 1 Weighted average fair value.
AstraZeneca Global Restricted Stock Plan
Share plans
Schedule of shares awarded	Ordinary Shares WAFV ADR Shares WAFV ʼ000 pence ʼ000 $ Outstanding at 1 January 2019 1,001 4598 10,493 31.57 Granted 759 6313 3,885 42.06 Forfeited (115) 5438 (1,199) 35.44 Cancelled – – (1) 32.39 Exercised (317) 4028 (3,408) 28.82 Outstanding at 31 December 2019 1,328 5640 9,770 36.22 Granted 689 7408 3,671 47.71 Forfeited (113) 6204 (1,077) 41.08 Cancelled – 7280 (9) 36.93 Exercised (278) 4929 (3,180) 31.47 Outstanding at 31 December 2020 1,626 6471 9,175 41.89 Granted 902 6893 4,509 47.75 Forfeited (158) 6865 (1,254) 45.77 Cancelled (1) 7244 (8) 45.89 Exercised (341) 4980 (2,881) 35.11 Outstanding at 31 December 2021 2,028 6879 9,541 46.19
AstraZeneca Restricted Share Plan
Share plans
Schedule of shares awarded	Ordinary Shares WAFV ADR Shares WAFV ʼ000 pence ʼ000 $ Outstanding at 1 January 2019 92 4952 1,062 30.79 Granted 105 6894 176 43.91 Forfeited (7) 5907 (141) 31.17 Cancelled – – (2) 28.19 Exercised (14) 5244 (446) 30.12 Outstanding at 31 December 2019 176 6051 649 34.70 Granted 80 7931 295 52.92 Forfeited (6) 7168 (79) 39.26 Exercised (89) 5166 (359) 31.05 Outstanding at 31 December 2020 161 7434 506 47.20 Granted 139 7415 481 53.96 Forfeited (18) 7562 (42) 44.73 Exercised (27) 7643 (182) 41.87 Outstanding at 31 December 2021 255 7393 763 52.88
Astrazeneca Extended Incentive Plan
Share plans
Schedule of shares awarded	Ordinary Shares WAFV ADR Shares WAFV ʼ000 pence ʼ000 $ Outstanding at 1 January 2019 238 5239 65 38.46 Granted 44 7301 – – Outstanding at 31 December 2019 282 5563 65 38.46 Granted 18 8386 – – Outstanding at 31 December 2020 300 5730 65 38.46 Granted – – 175 56.83 Forfeited (18) 8386 (45) 38.46 Outstanding at 31 December 2021 282 5563 195 54.92
Alexion employee share award plan
Share plans
Schedule of shares awarded	Ordinary Shares WAFV ADR Shares WAFV ʼ000 pence ʼ000 $ Outstanding at 1 January 2021 – – – – Granted – – 20,189 57.54 Forfeited – – (838) 57.54 Exercised – – (4,131) 57.54 Outstanding at 31 December 2021 – – 15,220 57.54

Commitments and contingent li_2

Commitments and contingent liabilities (Tables)	12 Months Ended
Commitments and contingent liabilities (Tables)	Dec. 31, 2021
Commitments and contingent liabilities
Schedule of commitments	2021 2020 2019 Commitments $m $m $m Contracts placed for future capital expenditure on Property, plant and equipment and 388 689 396
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 12,764 1,047 1,958 3,382 6,377 Future potential revenue milestone payments 17,769 68 420 1,452 15,829

Statutory and other informati_2

Statutory and other information (Tables)	12 Months Ended
Statutory and other information (Tables)	Dec. 31, 2021
Statutory and other information
Schedule of auditor's remuneration	2021 2020 2019 $m $m $m Fees payable to PricewaterhouseCoopers LLP and its associates: Group audit fee 10.5 6.3 3.9 Fees payable to PricewaterhouseCoopers LLP and its associates for other services: The audit of subsidiaries pursuant to legislation 15.2 10.8 8.3 Attestation under s404 of Sarbanes-Oxley Act 2002 2.0 2.0 2.0 Audit-related assurance services 4.5 0.7 0.3 Other assurance services 3.4 0.2 0.1 Fees payable to PricewaterhouseCoopers Associates in respect of the Group’s pension schemes: The audit of subsidiaries’ pension schemes 0.3 0.3 0.3 35.9 20.3 14.9
Schedule of key management personnel compensation	2021 2020 2019 $’000 $’000 $’000 Short-term employee benefits 32,985 29,126 31,329 Post-employment benefits 1,378 1,602 1,766 Share-based payments 45,234 27,666 19,210 79,597 58,394 52,305

Group Accounting Policies - IFR

Group Accounting Policies - IFRS 9 (Details) € in Millions, $ in Millions	Dec. 31, 2021USD ($)	Dec. 31, 2021EUR (€)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Application of new accounting standards
Borrowings	$ 30,781		$ 20,380	$ 18,227
0.875% Non-callable bond due 2021
Application of new accounting standards
Borrowings \| €		€ 750
USD LIBOR
Application of new accounting standards
Notional amount	1,439
Three month USD LIBOR
Application of new accounting standards
Borrowings	$ 4,000

Group Accounting Policies (Deta

Group Accounting Policies (Details) - USD ($)	12 Months Ended
Group Accounting Policies (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2003
Group Accounting Policies
Financial resources	$ 11,200,000,000
Cash balances		$ 6,300,000,000
Undrawn committed bank facilities	4,900,000,000
Borrowings	30,781,000,000	20,380,000,000	$ 18,227,000,000
Intangible assets	$ 42,492,000,000	20,947,000,000	$ 20,833,000,000
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	10 years
Minimum \| Plant and equipment
Group Accounting Policies
Asset lives	3 years
Minimum \| Motor vehicles
Group Accounting Policies
Asset lives	3 years
Minimum \| Other assets
Group Accounting Policies
Asset lives	3 years
Maximum \| Buildings
Group Accounting Policies
Asset lives	50 years
Maximum \| Plant and equipment
Group Accounting Policies
Asset lives	15 years
Maximum \| Motor vehicles
Group Accounting Policies
Asset lives	15 years
Maximum \| Other assets
Group Accounting Policies
Asset lives	15 years
Internally generated \| Capitalised development expenditure
Group Accounting Policies
Intangible assets		$ 0
Due within one year
Group Accounting Policies
Borrowings	$ 1,900,000,000

Revenue (Details)

Revenue (Details) - USD ($) $ in Millions	12 Months Ended
Revenue (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues
Revenue	$ 36,541	$ 25,890	$ 23,565
Emerging Markets
Revenues
Revenue	12,161	8,679	8,165
US
Revenues
Revenue	$ 12,000	$ 8,638	$ 7,747
Rebate, returns and chargebacks (as a percent)	1.50%	3.50%	3.60%
Europe
Revenues
Revenue	$ 7,604	$ 5,059	$ 4,350
Rest of World
Revenues
Revenue	4,776	3,514	3,303
Total Oncology
Revenues
Revenue	13,048	10,850	8,667
Total Oncology \| Emerging Markets
Revenues
Revenue	3,223	2,906	2,211
Total Oncology \| US
Revenues
Revenue	5,359	4,250	3,449
Total Oncology \| Europe
Revenues
Revenue	2,484	1,938	1,423
Total Oncology \| Rest of World
Revenues
Revenue	1,982	1,756	1,584
Tagrisso
Revenues
Revenue	5,015	4,328	3,189
Tagrisso \| Emerging Markets
Revenues
Revenue	1,336	1,208	762
Tagrisso \| US
Revenues
Revenue	1,780	1,566	1,268
Tagrisso \| Europe
Revenues
Revenue	986	748	474
Tagrisso \| Rest of World
Revenues
Revenue	913	806	685
Imfinzi
Revenues
Revenue	2,412	2,042	1,469
Imfinzi \| Emerging Markets
Revenues
Revenue	277	158	30
Imfinzi \| US
Revenues
Revenue	1,245	1,185	1,041
Imfinzi \| Europe
Revenues
Revenue	485	370	179
Imfinzi \| Rest of World
Revenues
Revenue	405	329	219
Lynparza
Revenues
Revenue	2,348	1,776	1,198
Lynparza \| Emerging Markets
Revenues
Revenue	384	264	133
Lynparza \| US
Revenues
Revenue	1,087	876	626
Lynparza \| Europe
Revenues
Revenue	618	435	287
Lynparza \| Rest of World
Revenues
Revenue	259	201	152
Calquence
Revenues
Revenue	1,238	522	164
Calquence \| Emerging Markets
Revenues
Revenue	20	6	2
Calquence \| US
Revenues
Revenue	1,089	511	162
Calquence \| Europe
Revenues
Revenue	111	2
Calquence \| Rest of World
Revenues
Revenue	18	3
Koselugo
Revenues
Revenue	108	38
Koselugo \| Emerging Markets
Revenues
Revenue	1
Koselugo \| US
Revenues
Revenue	104	38
Koselugo \| Europe
Revenues
Revenue	3
Enhertu
Revenues
Revenue	17
Enhertu \| Emerging Markets
Revenues
Revenue	12
Enhertu \| Europe
Revenues
Revenue	4
Enhertu \| Rest of World
Revenues
Revenue	1
Orpathys
Revenues
Revenue	16
Orpathys \| Emerging Markets
Revenues
Revenue	16
Zoladex
Revenues
Revenue	948	888	813
Zoladex \| Emerging Markets
Revenues
Revenue	619	561	492
Zoladex \| US
Revenues
Revenue	13	5	7
Zoladex \| Europe
Revenues
Revenue	147	140	135
Zoladex \| Rest of World
Revenues
Revenue	169	182	179
Faslodex
Revenues
Revenue	431	580	892
Faslodex \| Emerging Markets
Revenues
Revenue	167	180	198
Faslodex \| US
Revenues
Revenue	30	55	328
Faslodex \| Europe
Revenues
Revenue	113	221	229
Faslodex \| Rest of World
Revenues
Revenue	121	124	137
Iressa
Revenues
Revenue	183	268	423
Iressa \| Emerging Markets
Revenues
Revenue	151	221	286
Iressa \| US
Revenues
Revenue	11	14	17
Iressa \| Europe
Revenues
Revenue	5	12	70
Iressa \| Rest of World
Revenues
Revenue	16	21	50
Arimidex
Revenues
Revenue	139	185	225
Arimidex \| Emerging Markets
Revenues
Revenue	106	147	152
Arimidex \| Europe
Revenues
Revenue	4	3	28
Arimidex \| Rest of World
Revenues
Revenue	29	35	45
Casodex
Revenues
Revenue	143	172	200
Casodex \| Emerging Markets
Revenues
Revenue	105	133	127
Casodex \| Europe
Revenues
Revenue	3	3	16
Casodex \| Rest of World
Revenues
Revenue	35	36	57
Oncology, Others
Revenues
Revenue	50	51	94
Oncology, Others \| Emerging Markets
Revenues
Revenue	29	28	29
Oncology, Others \| Europe
Revenues
Revenue	5	4	5
Oncology, Others \| Rest of World
Revenues
Revenue	16	19	60
CVRM
Revenues
Revenue	8,020	7,096	6,906
CVRM \| Emerging Markets
Revenues
Revenue	3,780	3,203	2,978
CVRM \| US
Revenues
Revenue	2,124	2,083	2,209
CVRM \| Europe
Revenues
Revenue	1,494	1,228	1,151
CVRM \| Rest of World
Revenues
Revenue	622	582	568
Farxiga
Revenues
Revenue	3,000	1,959	1,543
Farxiga \| Emerging Markets
Revenues
Revenue	1,195	686	471
Farxiga \| US
Revenues
Revenue	732	569	537
Farxiga \| Europe
Revenues
Revenue	810	507	373
Farxiga \| Rest of World
Revenues
Revenue	263	197	162
Brilinta
Revenues
Revenue	1,472	1,593	1,581
Brilinta \| Emerging Markets
Revenues
Revenue	328	461	462
Brilinta \| US
Revenues
Revenue	735	732	710
Brilinta \| Europe
Revenues
Revenue	346	342	351
Brilinta \| Rest of World
Revenues
Revenue	63	58	58
Onglyza
Revenues
Revenue	360	470	527
Onglyza \| Emerging Markets
Revenues
Revenue	179	201	176
Onglyza \| US
Revenues
Revenue	88	166	230
Onglyza \| Europe
Revenues
Revenue	61	58	70
Onglyza \| Rest of World
Revenues
Revenue	32	45	51
Bydureon
Revenues
Revenue	385	448	549
Bydureon \| Emerging Markets
Revenues
Revenue	3	4	11
Bydureon \| US
Revenues
Revenue	321	382	459
Bydureon \| Europe
Revenues
Revenue	55	53	66
Bydureon \| Rest of World
Revenues
Revenue	6	9	13
Byetta
Revenues
Revenue	55	68	110
Byetta \| Emerging Markets
Revenues
Revenue	12	8	12
Byetta \| US
Revenues
Revenue	26	37	68
Byetta \| Europe
Revenues
Revenue	11	14	19
Byetta \| Rest of World
Revenues
Revenue	6	9	11
Other diabetes
Revenues
Revenue	59	47	52
Other diabetes \| Emerging Markets
Revenues
Revenue	18	7	1
Other diabetes \| US
Revenues
Revenue	22	25	40
Other diabetes \| Europe
Revenues
Revenue	17	13	9
Other diabetes \| Rest of World
Revenues
Revenue	2	2	2
Roxadustat
Revenues
Revenue	174
Roxadustat \| Emerging Markets
Revenues
Revenue	174
Lokelma
Revenues
Revenue	175	76	14
Lokelma \| Emerging Markets
Revenues
Revenue	3	5
Lokelma \| US
Revenues
Revenue	115	57	13
Lokelma \| Europe
Revenues
Revenue	13	4	1
Lokelma \| Rest of World
Revenues
Revenue	44	10
Crestor
Revenues
Revenue	1,096	1,180	1,278
Crestor \| Emerging Markets
Revenues
Revenue	775	748	806
Crestor \| US
Revenues
Revenue	80	92	104
Crestor \| Europe
Revenues
Revenue	52	129	148
Crestor \| Rest of World
Revenues
Revenue	189	211	220
Seloken/Toprol-XL
Revenues
Revenue	951	821	760
Seloken/Toprol-XL \| Emerging Markets
Revenues
Revenue	928	782	686
Seloken/Toprol-XL \| US
Revenues
Revenue	1	13	37
Seloken/Toprol-XL \| Europe
Revenues
Revenue	11	16	25
Seloken/Toprol-XL \| Rest of World
Revenues
Revenue	11	10	12
Atacand
Revenues
Revenue	97	243	221
Atacand \| Emerging Markets
Revenues
Revenue	28	175	160
Atacand \| US
Revenues
Revenue	4	10	12
Atacand \| Europe
Revenues
Revenue	65	35	30
Atacand \| Rest of World
Revenues
Revenue		23	19
CVDM, Others
Revenues
Revenue	196	191	271
CVDM, Others \| Emerging Markets
Revenues
Revenue	137	126	193
CVDM, Others \| US
Revenues
Revenue			(1)
CVDM, Others \| Europe
Revenues
Revenue	53	57	59
CVDM, Others \| Rest of World
Revenues
Revenue	6	8	20
BioPharmaceuticals: total Respiratory & Immunology
Revenues
Revenue	6,034	5,357	5,391
BioPharmaceuticals: total Respiratory & Immunology \| Emerging Markets
Revenues
Revenue	1,749	1,599	1,987
BioPharmaceuticals: total Respiratory & Immunology \| US
Revenues
Revenue	2,404	1,941	1,653
BioPharmaceuticals: total Respiratory & Immunology \| Europe
Revenues
Revenue	1,247	1,171	1,107
BioPharmaceuticals: total Respiratory & Immunology \| Rest of World
Revenues
Revenue	634	646	644
Symbicort
Revenues
Revenue	2,728	2,721	2,495
Symbicort \| Emerging Markets
Revenues
Revenue	609	567	547
Symbicort \| US
Revenues
Revenue	1,065	1,022	829
Symbicort \| Europe
Revenues
Revenue	670	694	678
Symbicort \| Rest of World
Revenues
Revenue	384	438	441
Pulmicort
Revenues
Revenue	962	996	1,466
Pulmicort \| Emerging Markets
Revenues
Revenue	770	798	1,190
Pulmicort \| US
Revenues
Revenue	72	71	110
Pulmicort \| Europe
Revenues
Revenue	73	73	81
Pulmicort \| Rest of World
Revenues
Revenue	47	54	85
Fasenra
Revenues
Revenue	1,258	949	704
Fasenra \| Emerging Markets
Revenues
Revenue	20	12	5
Fasenra \| US
Revenues
Revenue	790	603	482
Fasenra \| Europe
Revenues
Revenue	286	203	118
Fasenra \| Rest of World
Revenues
Revenue	162	131	99
Daliresp/Daxas
Revenues
Revenue	227	217	215
Daliresp/Daxas \| Emerging Markets
Revenues
Revenue	4	4	4
Daliresp/Daxas \| US
Revenues
Revenue	207	190	184
Daliresp/Daxas \| Europe
Revenues
Revenue	15	22	26
Daliresp/Daxas \| Rest of World
Revenues
Revenue	1	1	1
Bevespi
Revenues
Revenue	54	48	42
Bevespi \| Emerging Markets
Revenues
Revenue	4	1
Bevespi \| US
Revenues
Revenue	39	44	42
Bevespi \| Europe
Revenues
Revenue	11	3
Saphnelo
Revenues
Revenue	8
Saphnelo \| US
Revenues
Revenue	8
Breztri
Revenues
Revenue	203	28	2
Breztri \| Emerging Markets
Revenues
Revenue	55	14
Breztri \| US
Revenues
Revenue	115	5
Breztri \| Europe
Revenues
Revenue	7
Breztri \| Rest of World
Revenues
Revenue	26	9	2
Respiratory, Others
Revenues
Revenue	594	398	467
Respiratory, Others \| Emerging Markets
Revenues
Revenue	287	203	241
Respiratory, Others \| US
Revenues
Revenue	108	6	6
Respiratory, Others \| Europe
Revenues
Revenue	185	176	204
Respiratory, Others \| Rest of World
Revenues
Revenue	14	13	16
Total Rare Disease
Revenues
Revenue	3,070
Total Rare Disease \| Emerging Markets
Revenues
Revenue	196
Total Rare Disease \| US
Revenues
Revenue	1,828
Total Rare Disease \| Europe
Revenues
Revenue	682
Total Rare Disease \| Rest of World
Revenues
Revenue	364
Soliris
Revenues
Revenue	1,874
Soliris \| Emerging Markets
Revenues
Revenue	170
Soliris \| US
Revenues
Revenue	1,068
Soliris \| Europe
Revenues
Revenue	439
Soliris \| Rest of World
Revenues
Revenue	197
Utomiris
Revenues
Revenue	688
Utomiris \| Emerging Markets
Revenues
Revenue	9
Utomiris \| US
Revenues
Revenue	381
Utomiris \| Europe
Revenues
Revenue	169
Utomiris \| Rest of World
Revenues
Revenue	129
Strensiq
Revenues
Revenue	378
Strensiq \| Emerging Markets
Revenues
Revenue	10
Strensiq \| US
Revenues
Revenue	297
Strensiq \| Europe
Revenues
Revenue	36
Strensiq \| Rest of World
Revenues
Revenue	35
Kanuma
Revenues
Revenue	62
Kanuma \| Emerging Markets
Revenues
Revenue	7
Kanuma \| US
Revenues
Revenue	32
Kanuma \| Europe
Revenues
Revenue	20
Kanuma \| Rest of World
Revenues
Revenue	3
Andexxa
Revenues
Revenue	68
Andexxa \| US
Revenues
Revenue	50
Andexxa \| Europe
Revenues
Revenue	18
Total Other medicines
Revenues
Revenue	2,367	2,585	2,601
Total Other medicines \| Emerging Markets
Revenues
Revenue	954	971	989
Total Other medicines \| US
Revenues
Revenue	221	364	436
Total Other medicines \| Europe
Revenues
Revenue	596	720	669
Total Other medicines \| Rest of World
Revenues
Revenue	596	530	507
Nexium
Revenues
Revenue	1,326	1,492	1,483
Nexium \| Emerging Markets
Revenues
Revenue	705	757	748
Nexium \| US
Revenues
Revenue	128	169	218
Nexium \| Europe
Revenues
Revenue	62	71	63
Nexium \| Rest of World
Revenues
Revenue	431	495	454
Synagis
Revenues
Revenue	410	372	358
Synagis \| Emerging Markets
Revenues
Revenue	35
Synagis \| US
Revenues
Revenue	23	47	46
Synagis \| Europe
Revenues
Revenue	203	325	312
Synagis \| Rest of World
Revenues
Revenue	149
FluMist
Revenues
Revenue	253	295	113
FluMist \| Emerging Markets
Revenues
Revenue	2	1
FluMist \| US
Revenues
Revenue	27	70	20
FluMist \| Europe
Revenues
Revenue	222	219	93
FluMist \| Rest of World
Revenues
Revenue	2	5
Losec/Prilosec
Revenues
Revenue	180	183	263
Losec/Prilosec \| Emerging Markets
Revenues
Revenue	152	152	179
Losec/Prilosec \| US
Revenues
Revenue	1	6	10
Losec/Prilosec \| Europe
Revenues
Revenue	26	20	49
Losec/Prilosec \| Rest of World
Revenues
Revenue	1	5	25
Seroquel XR/IR
Revenues
Revenue	92	117	191
Seroquel XR/IR \| Emerging Markets
Revenues
Revenue	46	55	50
Seroquel XR/IR \| US
Revenues
Revenue	12	17	34
Seroquel XR/IR \| Europe
Revenues
Revenue	29	29	88
Seroquel XR/IR \| Rest of World
Revenues
Revenue	5	16	19
Other, Others
Revenues
Revenue	106	126	193
Other, Others \| Emerging Markets
Revenues
Revenue	14	6	12
Other, Others \| US
Revenues
Revenue	30	55	108
Other, Others \| Europe
Revenues
Revenue	54	56	64
Other, Others \| Rest of World
Revenues
Revenue	8	9	$ 9
COVID 19
Revenues
Revenue	4,002	2
COVID 19 \| Emerging Markets
Revenues
Revenue	2,259
COVID 19 \| US
Revenues
Revenue	64
COVID 19 \| Europe
Revenues
Revenue	1,101	2
COVID 19 \| Rest of World
Revenues
Revenue	578
Vaxzevria
Revenues
Revenue	3,917	2
Vaxzevria \| Emerging Markets
Revenues
Revenue	2,240
Vaxzevria \| US
Revenues
Revenue	64
Vaxzevria \| Europe
Revenues
Revenue	1,035	$ 2
Vaxzevria \| Rest of World
Revenues
Revenue	578
Evusheld
Revenues
Revenue	85
Evusheld \| Emerging Markets
Revenues
Revenue	19
Evusheld \| Europe
Revenues
Revenue	$ 66
Product sales excluding Rare Disease \| US
Revenues
Rebate, returns and chargebacks (as a percent)	1.80%
Contractual Managed-care and Medicare \| US
Revenues
Rebate, returns and chargebacks (as a percent)	0.80%
Regulatory Medicaid and state programmes \| US
Revenues
Rebate, returns and chargebacks (as a percent)	0.50%
Regulatory Medicaid and state programmes \| US
Revenues
Rebate, returns and chargebacks (as a percent)	0.40%	1.10%	1.30%
Contractual Managed-care and Medicare \| US
Revenues
Rebate, returns and chargebacks (as a percent)	0.70%	1.50%	1.90%

Revenue - Collaboration Revenue

Revenue - Collaboration Revenue (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues
Total collaboration revenue	$ 876	$ 727	$ 819
Japan
Revenues
Total collaboration revenue			19
Nexium \| Sale of rights
Revenues
Total collaboration revenue	75
Crestor \| Almirall
Revenues
Total collaboration revenue			39
Zoladex \| TerSera
Revenues
Total collaboration revenue		35
Lynparza/Koselugo \| MSD
Revenues
Total collaboration revenue	400	460	610
Enhertu \| Share of gross profits
Revenues
Total collaboration revenue	193	94
MEDI8897 \| Sanofi
Revenues
Total collaboration revenue			34
Roxadustat \| Share of gross profits
Revenues
Total collaboration revenue	6	30
Other Ongoing Collaboration Revenue
Revenues
Total collaboration revenue	64	46	55
Profit share revenue from product sales by collaboration partners
Revenues
Total collaboration revenue	200	128	0
Royal income
Revenues
Total collaboration revenue	$ 138	$ 62	$ 62

Operating profit - Other operat

Operating profit - Other operating income and expense (Details) $ in Millions	5 Months Ended	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Operating profit, other operating income and expense
Cost of inventories recognised as expense during period		$ 9,640	$ 3,110	$ 2,708
Research and development expense		9,736	5,991	6,059
Impairment of property, plant and equipment		343
Total other operating income and expense		1,492	1,528	1,541
Other payables	$ 1,328	1,328	1,017	819
Selling, general and administrative costs
Operating profit, other operating income and expense
Legal proceedings provision		48	(9)	610
Other operating income and expense
Operating profit, other operating income and expense
Royalties income		63	149	146
Royalties amortisation		(1)	(2)	(4)
Gains on disposal of intangible assets		513	1,030	1,243
Gains on disposal of non-current other investments		776
Net (losses)/gains on disposal of other non-current assets		(4)	25	(21)
Impairment of property, plant and equipment			(12)
Other income		453	406	285
Other expense		(308)	(68)	(108)
Total other operating income and expense		1,492	1,528	1,541
Research and development expense
Operating profit, other operating income and expense
Government grants		531	222
Cost of sales
Operating profit, other operating income and expense
Government grants		290	0
BMS's share of Global Diabetes Alliance
Operating profit, other operating income and expense
Changes in fair value of contingent consideration credit (charge)		42	(51)	(516)
BMS's share of Global Diabetes Alliance \| Selling, general and administrative costs
Operating profit, other operating income and expense
Changes in fair value of contingent consideration credit (charge)		42	(51)	(516)
Almirall \| Selling, general and administrative costs
Operating profit, other operating income and expense
Changes in fair value of contingent consideration credit (charge)		5	(143)	(58)
Alexion Pharmaceuticals, Inc. \| Cost of sales
Operating profit, other operating income and expense
Cost of inventories recognised as expense during period	$ 2,198
Vaxzevria
Operating profit, other operating income and expense
Research and development expense		309	161
AZD7442
Operating profit, other operating income and expense
Research and development expense		222	61
Hypertension medicines \| Atnahs Pharma
Operating profit, other operating income and expense
Gains on disposal of intangible assets			350
Priority Review Voucher
Operating profit, other operating income and expense
Gains on disposal of intangible assets			120
Brazikumab
Operating profit, other operating income and expense
Other income		99	107	0
Synagis
Operating profit, other operating income and expense
Increase in profit participation liability		114
Other payables				150
Consideration received		(20)	$ (40)
Losec \| Cheplapharm
Operating profit, other operating income and expense
Gains on disposal of intangible assets				243
Arimidex and Casodex \| Juvis Pharmaceuticals
Operating profit, other operating income and expense
Gains on disposal of intangible assets				181
Atacand \| Minimum
Operating profit, other operating income and expense
Number of Countries Commercial Rights Sold			70
Atacand \| Cheplapharm
Operating profit, other operating income and expense
Gains on disposal of intangible assets			$ 400
Seroquel XR/IR \| Cheplapharm
Operating profit, other operating income and expense
Gains on disposal of intangible assets				213
Europe ex UK and Spain \| Crestor
Operating profit, other operating income and expense
Gains on disposal of intangible assets		$ 317
US \| Synagis \| Sobi
Operating profit, other operating income and expense
Gains on disposal of intangible assets				$ 515
Viela Bio \| Horizon Therapeutics plc
Operating profit, other operating income and expense
Proportion of ownership interest in associate disposed		26.70%
Viela Bio \| Horizon Therapeutics plc \| Other operating income and expense
Operating profit, other operating income and expense
Profit upon closing		$ 776

Operating profit - Restructurin

Operating profit - Restructuring costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Restructuring programmes
Total charge	$ 1,283	$ 251	$ 347
Severance costs
Restructuring programmes
Total charge	217	26	137
Accelerated depreciation and impairment
Restructuring programmes
Total charge	371	17
Reversal of provisions for cost of restructuring			(67)
Other restructuring
Restructuring programmes
Total charge	695	208	277
Impairment of property, plant and equipment
Restructuring programmes
Total charge	343
Impairment of software intangible assets
Restructuring programmes
Total charge	16
Post Alexion Acquisition Group Review restructuring programme
Restructuring programmes
Total charge	1,030
Cost of sales
Restructuring programmes
Total charge	722	53	73
Cost of sales \| De-prioritisation of various development projects
Restructuring programmes
Total charge	81
Cost of sales \| Renegotiation of manufacturing capacity agreements with third parties
Restructuring programmes
Total charge	144
Cost of sales \| Rationalisation of manufacturing capacity and footprint
Restructuring programmes
Total charge	449
Research and development expense
Restructuring programmes
Total charge	223	35	101
Research and development expense \| De-prioritisation of various development projects
Restructuring programmes
Total charge	161
Selling, general and administrative costs
Restructuring programmes
Total charge	338	162	$ 173
Selling, general and administrative costs \| Severance payments and associated costs of compensating Alexion employees
Restructuring programmes
Total charge	$ 98
Other operating income and expense
Restructuring programmes
Total charge		$ 1

Operating profit - Financial in

Operating profit - Financial instruments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Other Operating Income and Expense
Losses on forward foreign exchange contracts	$ (21)	$ (86)	$ (112)
(Losses)/gains on receivables and payables	(42)	89	66
Total	$ (63)	$ 3	$ (46)

Finance income and expense - Ne

Finance income and expense - Net finance expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Finance income
Returns on fixed deposits and equity securities	$ 1	$ 1	$ 1
Returns on short-term deposits	11	40	122
Fair value gains on debt and interest rate swaps		4	7
Discount unwind on other long-term assets		6	20
Interest income on income tax balances	31	36	22
Total	43	87	172
Finance expense
Interest on debt and commercial paper	(700)	(669)	(698)
Interest on overdrafts, lease liabilities and other financing costs	(74)	(67)	(74)
Net interest on post-employment defined benefit plan net liabilities	(26)	(37)	(53)
Net exchange losses	(20)	(34)	(30)
Discount unwind on contingent consideration arising from business combinations	(226)	(278)	(356)
Discount unwind on other long-term liabilities	(248)	(219)	(213)
Fair value losses on debt and interest rate swaps	4
Interest expense on income tax balances	(2)	(2)	(8)
Total	(1,300)	(1,306)	(1,432)
Net finance expense	(1,257)	(1,219)	(1,260)
Acerta Pharma
Finance expense
Discount unwind on other long-term liabilities	$ (161)	$ (151)	$ (136)

Finance income and expense - Fi

Finance income and expense - Financial instruments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
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	$ (5)	$ (8)	$ (12)
Interest and changes in carrying values of debt designated as hedged items in fair value hedges, net of derivatives	(9)	(6)	(10)
Interest and fair value changes on fixed and short-term deposits, equity securities, other derivatives and tax balances	16	42	110
Interest on debt, overdrafts and lease liabilities held at amortised cost	(738)	(660)	(662)
Losses on change in fair value of derivatives	(4)
Fair value gains on debt and interest rate swaps		4	7
Interest rate fair value hedging instruments
Net gains and losses on financial instruments
Losses on change in fair value of derivatives	(33)	33	(5)
Interest rate fair value hedged items
Net gains and losses on financial instruments
Gain on change in fair value of related hedged items	29	(32)	8
Instruments in a fair value hedge relationship \| Loans
Net gains and losses on financial instruments
Losses on change in fair value of derivatives	(19)	2	4
Instruments designated at fair value through profit and loss
Net gains and losses on financial instruments
Losses on change in fair value of derivatives			$ (4)
Gain/(loss) on change in fair value of derivatives	$ 19	$ (3)

Taxation - Comprehensive income

Taxation - Comprehensive income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current tax expense
Current year	$ 1,200	$ 981	$ 1,243
Adjustment to prior years	(5)	(10)	66
Total	1,195	971	1,309
Deferred tax expense
Origination and reversal of temporary differences	(1,417)	(178)	(875)
Adjustment to prior years	(158)	(21)	(113)
Total	(1,575)	(199)	(988)
Total tax (credit)/charge for the year	(380)	772	321
Items that will not be reclassified to profit or loss:
Remeasurement of the defined benefit liability	117	(36)	(81)
Net losses/(gains) on equity investments measured at fair value through other comprehensive income	(27)	180	60
Deferred tax (credit)/charge relating to change of tax rates	(195)	(63)
Total	(105)	81	(21)
Items that may be reclassified subsequently to profit or loss:
Foreign exchange arising on consolidation	(57)	61	(34)
Foreign exchange arising on designating borrowings in net investment hedges	19	(22)	(4)
Deferred tax charge relating to change of tax rates	(8)
Total	(46)	39	(38)
Taxation related to components of other comprehensive income	$ (151)	$ 120	$ (59)

Taxation - Reconciliation (Deta

Taxation - Reconciliation (Details) - USD ($) $ in Millions	Apr. 01, 2023	Jan. 01, 2022	Jan. 01, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Taxation
Reported tax rate (as a percentage)				143.00%
Cash tax paid				$ 1,743
Temporary differences associated with investments in subsidiaries and branches, deferred tax liabilities have not been recognised				$ 5,597	$ 2,270	$ 1,779
Tax rate (as a percentage)	25.00%			19.00%
Tax charge effect					5
Tax credit related to statute of limitations					65
Profit before tax				$ (265)	3,916	1,548
Notional taxation charge at UK corporation tax rate of 19%				(50)	744	294
Differences in effective overseas tax rates				1	(49)	(49)
Deferred tax charge relating to change in tax rates1				54	138	39
Unrecognised deferred tax asset				32	3	(16)
Items not deductible for tax purposes				208	36	92
Items not chargeable for tax purposes				(163)	(4)	(13)
Other items				(299)	(65)	21
Adjustments in respect of prior periods				(163)	(31)	(47)
Total tax (credit)/charge for the year				(380)	772	321
Recognition of previously unrecognised net deferred tax assets					$ 22	27
De-recognition of previously recognised deferred tax assets				15
Temporary differences for which there is a corresponding deductible temporary difference [Member]
Taxation
Temporary differences associated with investments in subsidiaries and branches, deferred tax liabilities have not been recognised				$ 3,095
UK
Taxation
Reported tax rate (as a percentage)					19.00%
Tax rate (as a percentage)	25.00%			19.00%
Tax rate that was not enacted					17.00%
Tax credit				$ 18
Deferred tax charge relating to change in tax rates1				12
Countries other than the UK and the Netherlands
Taxation
Deferred tax charge relating to change in tax rates1				$ 3
The Netherlands and Sweden
Taxation
Tax credit						27
DUTCH
Taxation
Reported tax rate (as a percentage)					25.00%
Tax rate (as a percentage)		25.80%		25.00%	22.55%
Tax rate that was not enacted					21.70%
Tax charge					$ 151	66
Deferred tax charge relating to change in tax rates1				$ 39
SWEDEN
Taxation
Tax rate (as a percentage)					20.50%
Forecast \| DUTCH
Taxation
Tax rate (as a percentage)					25.00%
Forecast \| SWEDEN
Taxation
Tax rate (as a percentage)			21.70%
Collaboration and Divestment Activity
Taxation
Other items						(309)
Expiry of relevant statute of limitations
Taxation
Tax credit						218
Internal transfers of intellectual property
Taxation
Other items						$ 70

Taxation - Movements in deferre

Taxation - Movements in deferred tax balance (Details) - USD ($) $ in Millions	Apr. 01, 2023	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Taxation
Balance at the beginning of the period		$ 520	$ 228	$ (907)
Taxation expense		1,575	199	988
Other comprehensive income		175	94	83
Equity		14	(16)	(12)
Additions through business combinations		(4,174)
Exchange		14	15	52
Balance at the end of the period		(1,876)	520	228
Net deferred tax asset		7,266	6,019	4,792
Movements in deferred tax assets		2,396
Credit arising from increase in UK Corporation tax rate		$ (54)	(138)	(39)
UK corporation tax rate	25.00%	19.00%
United Kingdom
Taxation
Net deferred tax asset		$ 1,070
US
Taxation
Net deferred tax asset		245
Intangibles, property, plant & equipment
Taxation
Balance at the beginning of the period		(2,627)	(2,265)	(3,368)
Taxation expense		782	(226)	1,055
Other comprehensive income		52	(78)	34
Additions through business combinations		(3,744)
Exchange		57	(58)	14
Balance at the end of the period		(5,480)	(2,627)	(2,265)
Net deferred tax asset		1,476	1,061	1,091
Contingent consideration liabilities in respect of intangibles
Taxation
Balance at the beginning of the period
Balance at the end of the period		(367)
Pension and post-retirement benefits
Taxation
Balance at the beginning of the period		656	561	495
Taxation expense		(166)	(64)	(9)
Other comprehensive income		83	101	79
Additions through business combinations		13
Exchange		(33)	58	(4)
Balance at the end of the period		553	656	561
Net deferred tax asset		574	690	591
Elimination of unrealised profit on inventory
Taxation
Balance at the beginning of the period		1,807	1,293	980
Taxation expense		(59)	444	312
Additions through business combinations		166
Exchange		(53)	70	1
Balance at the end of the period		1,861	1,807	1,293
Net deferred tax asset		1,910	2,286	1,543
Untaxed reserves
Taxation
Balance at the beginning of the period		(801)	(598)	(557)
Taxation expense		(139)	(92)	(63)
Other comprehensive income			(1)
Exchange		78	(110)	22
Balance at the end of the period		(862)	(801)	(598)
Losses and tax credits carried forward
Taxation
Balance at the beginning of the period		714	546	1,008
Taxation expense		307	136	(480)
Additions through business combinations		507
Exchange		(10)	32	18
Balance at the end of the period		1,518	714	546
Net deferred tax asset		1,571	852	608
Accrued expenses and other
Taxation
Balance at the beginning of the period		771	691	535
Taxation expense		850	1	173
Other comprehensive income		40	72	(30)
Equity		14	(16)	(12)
Additions through business combinations		(1,116)
Exchange		(25)	23	1
Balance at the end of the period		534	771	691
Net deferred tax asset		$ 1,735	$ 1,130	$ 959

Taxation - Net deferred tax bal

Taxation - Net deferred tax balance (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Taxation
Deferred tax assets	$ 7,266	$ 6,019	$ 4,792
Deferred tax liabilities	(9,142)	(5,499)	(4,564)
Net deferred tax balance	(1,876)	520	228	$ (907)
Deductible temporary differences for which no deferred tax asset is recognised	719	428	441
Alexion Pharmaceuticals, Inc.
Taxation
Net deferred tax balance	(4,174)
After the offset of balances within countries
Taxation
Deferred tax assets	4,330	3,438	2,718
Deferred tax liabilities	(6,206)	(2,918)	(2,490)
Net deferred tax balance	(1,876)	520	228
Intangibles, property, plant & equipment
Taxation
Deferred tax assets	1,476	1,061	1,091
Deferred tax liabilities	(6,956)	(3,688)	(3,356)
Net deferred tax balance	(5,480)	(2,627)	(2,265)	(3,368)
Pension and post-retirement benefits
Taxation
Deferred tax assets	574	690	591
Deferred tax liabilities	(21)	(34)	(30)
Net deferred tax balance	553	656	561	495
Elimination of unrealised profit on inventory
Taxation
Deferred tax assets	1,910	2,286	1,543
Deferred tax liabilities	(49)	(479)	(250)
Net deferred tax balance	1,861	1,807	1,293	980
Untaxed reserves
Taxation
Deferred tax liabilities	(862)	(801)	(598)
Net deferred tax balance	(862)	(801)	(598)	(557)
Losses and tax credits carried forward
Taxation
Deferred tax assets	1,571	852	608
Deferred tax liabilities	(53)	(138)	(62)
Net deferred tax balance	1,518	714	546	1,008
Accrued expenses and other
Taxation
Deferred tax assets	1,735	1,130	959
Deferred tax liabilities	(1,201)	(359)	(268)
Net deferred tax balance	$ 534	$ 771	$ 691	$ 535

Taxation - Unrecognised deferre

Taxation - Unrecognised deferred tax assets (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Taxation
Unrecognised DTA	$ 719	$ 428	$ 441
Trading and capital losses expiring. \| Within 10 years
Taxation
Temporary differences	4	2	33
Unrecognised DTA	1		9
Trading and capital losses expiring. \| More than 10 years
Taxation
Temporary differences	53		1
Unrecognised DTA	11
Trading and capital losses expiring. \| Indefinite
Taxation
Temporary differences	300	234	218
Unrecognised DTA	79	63	62
Tax credits and State tax losses expiring \| Within 10 years
Taxation
Unrecognised DTA	101	36	44
Tax credits and State tax losses expiring \| More than 10 years
Taxation
Unrecognised DTA	441	255	259
Tax credits and State tax losses expiring \| Indefinite
Taxation
Unrecognised DTA	86	74	67
Capital losses expiring
Taxation
Unrecognised DTA	628	365	370
Capital losses expiring \| Indefinite
Taxation
Temporary differences	357	236	252
Unrecognised DTA	$ 91	$ 63	$ 71

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, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings per $0.25 Ordinary Share
Profit for the year attributable to equity holders ($m)	$ 112	$ 3,196	$ 1,335
Basic earnings per Ordinary Share (in dollars per share)	$ 0.08	$ 2.44	$ 1.03
Diluted earnings per Ordinary Share (in dollars per share)	$ 0.08	$ 2.44	$ 1.03
Weighted average number of Ordinary Shares in issue for basic earnings (millions)	1,418	1,312	1,301
Dilutive impact of share options outstanding (millions)	9	1
Diluted weighted average number of Ordinary Shares in issue (millions)	1,427	1,313	1,301

Segment information - Geographi

Segment information - Geographical areas (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)segment	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Disclosure of geographical location
Number of reportable segments \| segment	1
Total Revenue	$ 37,417	$ 26,617	$ 24,384
UK \| Operating segments
Disclosure of geographical location
Total Revenue	3,245	1,741	1,822
External
Disclosure of geographical location
Total Revenue	34,172	24,876	22,562
Europe \| Operating segments
Disclosure of geographical location
Total Revenue	7,827	4,836	4,162
France \| Operating segments
Disclosure of geographical location
Total Revenue	915	653	578
Germany \| Operating segments
Disclosure of geographical location
Total Revenue	1,486	937	704
Italy \| Operating segments
Disclosure of geographical location
Total Revenue	577	431	396
Spain \| Operating segments
Disclosure of geographical location
Total Revenue	578	398	359
Sweden \| Operating segments
Disclosure of geographical location
Total Revenue	2,322	1,026	834
Other continental Europe excluding Belgium, France, Germany, Italy, Spain and Sweden \| Operating segments
Disclosure of geographical location
Total Revenue	1,949	1,391	1,291
The Americas \| Operating segments
Disclosure of geographical location
Total Revenue	14,022	10,312	9,327
Canada \| Operating segments
Disclosure of geographical location
Total Revenue	772	596	466
US \| Operating segments
Disclosure of geographical location
Total Revenue	12,047	8,955	8,047
Other Americas excluding US and Canada \| Operating segments
Disclosure of geographical location
Total Revenue	1,203	761	814
Asia, Africa And Australasia \| Operating segments
Disclosure of geographical location
Total Revenue	12,323	9,728	9,073
Australia \| Operating segments
Disclosure of geographical location
Total Revenue	547	282	266
China \| Operating segments
Disclosure of geographical location
Total Revenue	6,002	5,345	4,867
Japan \| Operating segments
Disclosure of geographical location
Total Revenue	3,395	2,567	2,522
Other Asia, Africa and Australasia excluding Australia, China and Japan \| Operating segments
Disclosure of geographical location
Total Revenue	$ 2,379	$ 1,534	$ 1,418

Segment information - Intra-Gro

Segment information - Intra-Group pricing (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of geographical location
Operating profit/(loss)	$ 1,056	$ 5,162	$ 2,924
(Loss)/profit before tax	(265)	3,916	1,548
Non-current assets	74,687	43,576	43,035
Total assets	105,363	66,729	61,377
Assets acquired	38,241	2,518	2,997
Net operating assets	68,922	31,790	30,768
UK
Disclosure of geographical location
Operating profit/(loss)	(950)	824	466
(Loss)/profit before tax	(1,477)	518	93
Non-current assets	7,692	7,900	6,874
Total assets	16,615	17,851	15,302
Assets acquired	810	1,611	2,255
Net operating assets	3,239	5,244	4,206
Europe
Disclosure of geographical location
Operating profit/(loss)	2,999	2,838	1,502
(Loss)/profit before tax	2,682	2,356	1,006
Non-current assets	39,171	15,821	15,245
Total assets	48,383	19,738	18,182
Assets acquired	26,527	505	386
Net operating assets	40,161	10,242	9,201
The Americas
Disclosure of geographical location
Operating profit/(loss)	(1,936)	758	(8)
(Loss)/profit before tax	(2,401)	297	(474)
Non-current assets	26,570	18,501	19,663
Total assets	34,301	23,640	23,380
Assets acquired	10,810	286	236
Net operating assets	24,786	15,697	15,929
Asia, Africa And Australasia
Disclosure of geographical location
Operating profit/(loss)	943	742	964
(Loss)/profit before tax	931	745	923
Non-current assets	1,254	1,354	1,253
Total assets	6,064	5,500	4,513
Assets acquired	94	116	120
Net operating assets	$ 736	$ 607	$ 1,432

Segment information - Property,

Segment information - Property, plant and equipment (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of geographical location
Property, plant and equipment	$ 9,183	$ 8,251	$ 7,688
UK
Disclosure of geographical location
Property, plant and equipment	2,542	2,227	1,920
Ireland
Disclosure of geographical location
Property, plant and equipment	969
Sweden
Disclosure of geographical location
Property, plant and equipment	1,593	1,755	1,488
US
Disclosure of geographical location
Property, plant and equipment	2,660	2,662	2,758
Rest of the world
Disclosure of geographical location
Property, plant and equipment	$ 1,419	$ 1,607	$ 1,522

Segment information - Product S

Segment information - Product Sales (Details) $ in Millions	12 Months Ended
Segment information - Product Sales (Details) $ in Millions	Dec. 31, 2021USD ($)customer	Dec. 31, 2020USD ($)customer	Dec. 31, 2019USD ($)customer
Disclosure of geographical location
Product Sales	$ 36,541	$ 25,890	$ 23,565
Number of transactions with wholesaler \| customer	1	1	1
Number of significant wholesalers \| customer	1	1	1
Customer one
Disclosure of geographical location
Product Sales	$ 4,862	$ 3,321	$ 3,078
UK
Disclosure of geographical location
Product Sales	1,206	611	458
Europe
Disclosure of geographical location
Product Sales	6,792	4,446	3,891
The Americas
Disclosure of geographical location
Product Sales	14,893	10,004	9,032
Asia, Africa And Australasia
Disclosure of geographical location
Product Sales	$ 13,650	$ 10,829	$ 10,184

Property, plant and equipment_2

Property, plant and equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, plant and equipment
Balance at the beginning period	$ 8,251	$ 7,688
Additions through business combinations	1,135
Impairment (reversal)/charge	343
Balance at the end period	9,183	8,251	$ 7,688
Cost
Property, plant and equipment
Balance at the beginning period	16,067	15,001	14,639
Capital expenditure	1,152	926	996
Disposals and other movements	(761)	(681)	(571)
Exchange adjustments	(585)	821	(63)
Balance at the end period	17,008	16,067	15,001
Depreciation, amortisation and impairment
Property, plant and equipment
Balance at the beginning period	(7,816)	(7,313)	(7,218)
Depreciation charge for the year	724	689	647
Impairment (reversal)/charge	343	13	(53)
Disposals and other movements	725	660	433
Exchange adjustments	333	(461)	66
Balance at the end period	(7,825)	(7,816)	(7,313)
Land and buildings
Property, plant and equipment
Balance at the beginning period	3,025	3,027
Additions through business combinations	542
Balance at the end period	3,500	3,025	3,027
Transfers between classes			(70)
Land and buildings \| Cost
Property, plant and equipment
Balance at the beginning period	5,851	5,532	5,366
Capital expenditure	9	10	8
Transfer of assets into use	236	137	403
Disposals and other movements	(92)	(48)	(236)
Exchange adjustments	(169)	220	(9)
Balance at the end period	6,377	5,851	5,532
Land and buildings \| Depreciation, amortisation and impairment
Property, plant and equipment
Balance at the beginning period	(2,826)	(2,505)	(2,504)
Depreciation charge for the year	231	227	209
Impairment (reversal)/charge	(1)	(1)	(67)
Disposals and other movements	74	42	120
Exchange adjustments	105	(137)	21
Balance at the end period	(2,877)	(2,826)	(2,505)
Freeholds
Property, plant and equipment
Balance at the beginning period	2,583	2,657
Balance at the end period	2,985	2,583	2,657
Leaseholds
Property, plant and equipment
Balance at the beginning period	442	370
Balance at the end period	515	442	370
Plant and equipment
Property, plant and equipment
Balance at the beginning period	2,748	2,575
Additions through business combinations	339
Balance at the end period	2,955	2,748	2,575
Plant and equipment \| Longmont
Property, plant and equipment
Reversal of impairment			23
Plant and equipment \| Boulder
Property, plant and equipment
Reversal of impairment			70
Plant and equipment \| Cost
Property, plant and equipment
Balance at the beginning period	7,738	7,383	7,096
Capital expenditure	31	42	48
Transfer of assets into use	611	462	620
Disposals and other movements	(469)	(615)	(324)
Exchange adjustments	(347)	466	(57)
Balance at the end period	7,903	7,738	7,383
Plant and equipment \| Depreciation, amortisation and impairment
Property, plant and equipment
Balance at the beginning period	(4,990)	(4,808)	(4,714)
Depreciation charge for the year	493	462	438
Impairment (reversal)/charge	121	2	14
Disposals and other movements	428	606	313
Exchange adjustments	228	(324)	45
Balance at the end period	(4,948)	(4,990)	(4,808)
Assets in course of construction
Property, plant and equipment
Balance at the beginning period	2,478	2,086
Additions through business combinations	254
Balance at the end period	2,728	2,478	2,086
Assets in course of construction \| Cost
Property, plant and equipment
Balance at the beginning period	2,478	2,086	2,177
Capital expenditure	1,112	874	940
Transfer of assets into use	(847)	(599)	(1,023)
Disposals and other movements	(200)	(18)	(11)
Exchange adjustments	(69)	135	3
Balance at the end period	2,728	2,478	2,086
Assets in course of construction \| Depreciation, amortisation and impairment
Property, plant and equipment
Impairment (reversal)/charge	223	12
Disposals and other movements	$ 223	$ 12
Assets held for sale
Property, plant and equipment
Transfers between classes			$ 70

Leases - Right-of-use assets (D

Leases - Right-of-use assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Right-of-use assets
Balance - beginning of period	$ 666	$ 647
Balance - end of period	988	666	$ 647
Cost
Right-of-use assets
Balance - beginning of period	1,043	851	722
Additions through business combinations	263
Additions - separately acquired	245	191	173
Disposals and other movements	(23)	(29)	(50)
Exchange adjustments	(41)	30	6
Balance - end of period	1,487	1,043	851
Depreciation, amortisation and impairment
Right-of-use assets
Balance - beginning of period	(377)	(204)
Depreciation charge for the year	235	215	207
Impairment charge			4
Disposals and other movements	96	54	8
Exchange adjustments	17	(12)	(1)
Balance - end of period	(499)	(377)	(204)
Land and buildings
Right-of-use assets
Balance - beginning of period	488	495
Balance - end of period	807	488	495
Land and buildings \| Cost
Right-of-use assets
Balance - beginning of period	735	627	580
Additions through business combinations	255
Additions - separately acquired	145	87	85
Disposals and other movements	25		(44)
Exchange adjustments	(27)	21	6
Balance - end of period	1,133	735	627
Land and buildings \| Depreciation, amortisation and impairment
Right-of-use assets
Balance - beginning of period	(247)	(132)
Depreciation charge for the year	144	131	130
Impairment charge			4
Disposals and other movements	54	24	3
Exchange adjustments	11	(8)	(1)
Balance - end of period	(326)	(247)	(132)
Motor vehicles
Right-of-use assets
Balance - beginning of period	155	138
Balance - end of period	167	155	138
Motor vehicles \| Cost
Right-of-use assets
Balance - beginning of period	272	202	124
Additions through business combinations	8
Additions - separately acquired	98	89	85
Disposals and other movements	(44)	(27)	(7)
Exchange adjustments	(13)	8
Balance - end of period	321	272	202
Motor vehicles \| Depreciation, amortisation and impairment
Right-of-use assets
Balance - beginning of period	(117)	(64)
Depreciation charge for the year	85	75	70
Disposals and other movements	42	26	6
Exchange adjustments	6	(4)
Balance - end of period	(154)	(117)	(64)
Other assets
Right-of-use assets
Balance - beginning of period	23	14
Balance - end of period	14	23	14
Other assets \| Cost
Right-of-use assets
Balance - beginning of period	36	22	18
Additions - separately acquired	2	15	3
Disposals and other movements	(4)	(2)	1
Exchange adjustments	(1)	1
Balance - end of period	33	36	22
Other assets \| Depreciation, amortisation and impairment
Right-of-use assets
Balance - beginning of period	(13)	(8)
Depreciation charge for the year	6	9	7
Disposals and other movements		4	(1)
Balance - end of period	$ (19)	$ (13)	$ (8)

Leases - Lease Liability (Detai

Leases - Lease Liability (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Present value of lease liabilities
Lease liabilities	$ (987)	$ (681)	$ (675)
Due within one year
Present value of lease liabilities
Lease liabilities	(233)	(192)	(188)
Later than one year and not later than five years
Present value of lease liabilities
Lease liabilities	(544)	(389)	(368)
Later than five years
Present value of lease liabilities
Lease liabilities	$ (210)	$ (100)	$ (119)

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Leases - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases
Right-of-use assets	$ 988	$ 666	$ 647
Lease liabilities	987	681	675
Interest expense on lease liabilities	22	21	22
Expense related to short-term leases	4	2	1
Expense related to leases of low-value assets	1	1	1
Expense related to variable lease payments	4	1	0
Income from subleasing	3	7	4
Cash outflow for leases	$ 262	$ 228	$ 208

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
Goodwill (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of reconciliation of changes in goodwill
Beginning balance	$ 11,845	$ 11,668
Ending balance	19,997	11,845	$ 11,668
Goodwill impairment	0
Cost
Disclosure of reconciliation of changes in goodwill
Beginning balance	12,164	11,982	12,022
Additional recognition, goodwill	8,287
Exchange and other adjustments	(140)	182	(40)
Ending balance	20,311	12,164	11,982
Depreciation, amortisation and impairment
Disclosure of reconciliation of changes in goodwill
Beginning balance	(319)	(314)	(315)
Exchange and other adjustments	5	(5)	1
Ending balance	$ (314)	$ (319)	$ (314)

Intangible assets - Reconciliat

Intangible assets - Reconciliation of changes in intangible assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of reconciliation of changes in intangible assets
Beginning balance	$ 20,947	$ 20,833
Amortisation for year	3,143	1,992	$ 1,928
Ending balance	42,492	20,947	20,833
Cost
Disclosure of reconciliation of changes in intangible assets
Beginning balance	46,607	45,084	43,501
Additions through business combinations	26,955
Additions, separately acquired	712	1,592	2,001
Transferred to Assets held for sale	(1,313)
Disposals	(1,226)	(1,672)	(186)
Exchange and other adjustments	(1,102)	1,603	(232)
Ending balance	70,633	46,607	45,084
Amortisation and impairment losses
Disclosure of reconciliation of changes in intangible assets
Beginning balance	(25,660)	(24,251)	(21,542)
Transferred to Assets held for sale	945
Amortisation for year	3,143	1,992	1,928
Impairment charges	2,085	405	1,036
Impairment reversals		(165)	(3)
Disposals	1,220	1,601	176
Exchange and other adjustments	582	(778)	76
Ending balance	(28,141)	(25,660)	(24,251)
Product, marketing and distribution rights
Disclosure of reconciliation of changes in intangible assets
Beginning balance	20,113	20,049
Additions, separately acquired	124	835	1,093
Amortisation for year	2,908	1,872	1,808
Ending balance	41,314	20,113	20,049
Product, marketing and distribution rights \| Cost
Disclosure of reconciliation of changes in intangible assets
Beginning balance	42,677	40,654	39,136
Additions through business combinations	26,455
Additions, separately acquired	587	1,454	1,835
Transferred to Assets held for sale	(1,266)
Disposals	(801)	(970)	(35)
Exchange and other adjustments	(1,062)	1,539	(282)
Ending balance	66,590	42,677	40,654
Product, marketing and distribution rights \| Amortisation and impairment losses
Disclosure of reconciliation of changes in intangible assets
Beginning balance	(22,564)	(20,605)	(17,907)
Transferred to Assets held for sale	931
Amortisation for year	2,908	1,872	1,808
Impairment charges	2,067	405	1,034
Impairment reversals		(165)	(3)
Disposals	797	899	29
Exchange and other adjustments	535	(746)	112
Ending balance	(25,276)	(22,564)	(20,605)
Other intangibles
Disclosure of reconciliation of changes in intangible assets
Beginning balance	514	552
Amortisation for year	172	59	52
Ending balance	748	514	552
Other intangibles \| Cost
Disclosure of reconciliation of changes in intangible assets
Beginning balance	2,642	2,649	2,526
Additions through business combinations	430
Additions, separately acquired	6	2	99
Transferred to Assets held for sale	(47)
Disposals	(402)	(66)
Exchange and other adjustments	(18)	57	24
Ending balance	2,611	2,642	2,649
Other intangibles \| Amortisation and impairment losses
Disclosure of reconciliation of changes in intangible assets
Beginning balance	(2,128)	(2,097)	(2,035)
Transferred to Assets held for sale	14
Amortisation for year	172	59	52
Disposals	402	66
Exchange and other adjustments	21	(38)	(10)
Ending balance	(1,863)	(2,128)	(2,097)
Software development costs
Disclosure of reconciliation of changes in intangible assets
Beginning balance	320	232
Amortisation for year	63	61	68
Ending balance	430	320	232
Software development costs \| Cost
Disclosure of reconciliation of changes in intangible assets
Beginning balance	1,288	1,781	1,839
Additions through business combinations	70
Additions, separately acquired	119	136	67
Disposals	(23)	(636)	(151)
Exchange and other adjustments	(22)	7	26
Ending balance	1,432	1,288	1,781
Software development costs \| Amortisation and impairment losses
Disclosure of reconciliation of changes in intangible assets
Beginning balance	(968)	(1,549)	(1,600)
Amortisation for year	63	61	68
Impairment charges	18		2
Disposals	21	636	147
Exchange and other adjustments	26	6	(26)
Ending balance	$ (1,002)	$ (968)	$ (1,549)

Intangible assets - Net book va

Intangible assets - Net book values (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of reconciliation of changes in intangible assets
Current intangible assets	$ 105
Non-current intangible assets	42,387	$ 20,947	$ 20,833
Total intangible assets other than goodwill	42,492	20,947	20,833
Product, marketing and distribution rights
Disclosure of reconciliation of changes in intangible assets
Total intangible assets other than goodwill	41,314	20,113	20,049
Additions, separately acquired deferred payments	$ 124	$ 835	$ 1,093

Intangible assets - Summary of

Intangible assets - Summary of amortisation charges (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of reconciliation of changes in intangible assets
Amortisation, intangible assets	$ 3,143	$ 1,992	$ 1,928
Cost of sales [Member]
Disclosure of reconciliation of changes in intangible assets
Amortisation, intangible assets	66	66	87
Research and development expense [Member]
Disclosure of reconciliation of changes in intangible assets
Amortisation, intangible assets	33	29	29
Selling, general and administrative costs
Disclosure of reconciliation of changes in intangible assets
Amortisation, intangible assets	3,043	1,895	1,808
Other operating income and expense
Disclosure of reconciliation of changes in intangible assets
Amortisation, intangible assets	1	2	4
Product, marketing and distribution rights
Disclosure of reconciliation of changes in intangible assets
Amortisation, intangible assets	2,908	1,872	1,808
Product, marketing and distribution rights \| Cost of sales [Member]
Disclosure of reconciliation of changes in intangible assets
Amortisation, intangible assets	66	66	87
Product, marketing and distribution rights \| Selling, general and administrative costs
Disclosure of reconciliation of changes in intangible assets
Amortisation, intangible assets	2,842	1,806	1,721
Other intangibles
Disclosure of reconciliation of changes in intangible assets
Amortisation, intangible assets	172	59	52
Other intangibles \| Research and development expense [Member]
Disclosure of reconciliation of changes in intangible assets
Amortisation, intangible assets	33	29	29
Other intangibles \| Selling, general and administrative costs
Disclosure of reconciliation of changes in intangible assets
Amortisation, intangible assets	138	28	19
Other intangibles \| Other operating income and expense
Disclosure of reconciliation of changes in intangible assets
Amortisation, intangible assets	1	2	4
Software development costs
Disclosure of reconciliation of changes in intangible assets
Amortisation, intangible assets	63	61	68
Software development costs \| Selling, general and administrative costs
Disclosure of reconciliation of changes in intangible assets
Amortisation, intangible assets	$ 63	$ 61	$ 68

Intangible assets - Net impairm

Intangible assets - Net impairment charges (reversals) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Impairment of intangible assets
Carrying value	$ 42,492	$ 20,947	$ 20,833
Research and development expense	1,464	55	609
Selling, general and administrative costs	621	185	427
Other operating income and expense			(3)
Net impairment charges	$ 2,085	240	1,033
Post-tax weighted average cost of capital	7.00%
useful life reduced by one year
Impairment of intangible assets
Increase (decrease) in net book value	$ (868)
useful life extended by one year
Impairment of intangible assets
Increase (decrease) in net book value	481
Launched products
Impairment of intangible assets
Reversal of impairment	0		0
Launched products
Impairment of intangible assets
Impairment charges	603	350	425
Reversal of impairment		165
Launched products \| Roxadustat
Impairment of intangible assets
Impairment charges	121
Carrying value	215
Launched products \| Bydureon
Impairment of intangible assets
Impairment charges	469	102	154
Carrying value	50	581	747
Launched products \| Duaklir
Impairment of intangible assets
Impairment charges		200
Carrying value		210
Launched products \| Eklira/Tudorza
Impairment of intangible assets
Impairment charges			84
Carrying value			192
Launched products \| FluMist
Impairment of intangible assets
Impairment charges			52
Carrying value		300	172
Reversal of impairment		147
Launched products \| Total Other medicines
Impairment of intangible assets
Impairment charges			46
Launched products \| Other launched products
Impairment of intangible assets
Impairment charges	13	48
Reversal of impairment		18
Launched products \| Qtern
Impairment of intangible assets
Impairment charges			89
Carrying value			233
Products in development
Impairment of intangible assets
Impairment charges	1,464	55
Reversal of impairment	0	0	3
Products in development \| Other intangibles
Impairment of intangible assets
Impairment charges			76
Products in development \| Ardea
Impairment of intangible assets
Impairment charges	1,172
Products in development \| Epanova
Impairment of intangible assets
Impairment charges			533
Ardea
Impairment of intangible assets
Impairment charges	1,172
Product, marketing and distribution rights
Impairment of intangible assets
Carrying value	41,314	20,113	20,049
Research and development expense	1,464	55	609
Selling, general and administrative costs	603	185	425
Other operating income and expense			(3)
Net impairment charges	2,067	240	1,031
Other intangibles
Impairment of intangible assets
Carrying value	748	514	552
Software development costs
Impairment of intangible assets
Carrying value	430	$ 320	232
Selling, general and administrative costs	18		2
Net impairment charges	$ 18		$ 2

Intangible assets - Significant

Intangible assets - Significant intangible assets (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)
Alexion Pharmaceuticals, Inc. \| Products in development
Disclosure of intangible assets materials
Intangible assets material to entity	$ 2,760
Acerta Pharma
Disclosure of intangible assets materials
Intangible assets material to entity	$ 5,299
Remaining amortisation period of intangible assets material to entity	11 years
ZS Pharma
Disclosure of intangible assets materials
Intangible assets material to entity	$ 2,381
Remaining amortisation period of intangible assets material to entity	10 years
Pearl Therapeutics
Disclosure of intangible assets materials
Intangible assets material to entity	$ 611
Pearl Therapeutics \| Minimum
Disclosure of intangible assets materials
Remaining amortisation period of intangible assets material to entity	7 years
Pearl Therapeutics \| Maximum
Disclosure of intangible assets materials
Remaining amortisation period of intangible assets material to entity	8 years
C5 franchise (Soliris/Ultomiris) \| Alexion Pharmaceuticals, Inc.
Disclosure of intangible assets materials
Intangible assets material to entity	$ 17,724
C5 franchise (Soliris/Ultomiris) \| Alexion Pharmaceuticals, Inc. \| Minimum
Disclosure of intangible assets materials
Remaining amortisation period of intangible assets material to entity	6 years
C5 franchise (Soliris/Ultomiris) \| Alexion Pharmaceuticals, Inc. \| Maximum
Disclosure of intangible assets materials
Remaining amortisation period of intangible assets material to entity	15 years
Strensiq, Kanuma and Andexxa \| Alexion Pharmaceuticals, Inc.
Disclosure of intangible assets materials
Intangible assets material to entity	$ 5,019
Strensiq, Kanuma and Andexxa \| Alexion Pharmaceuticals, Inc. \| Minimum
Disclosure of intangible assets materials
Remaining amortisation period of intangible assets material to entity	11 years
Strensiq, Kanuma and Andexxa \| Alexion Pharmaceuticals, Inc. \| Maximum
Disclosure of intangible assets materials
Remaining amortisation period of intangible assets material to entity	17 years
RSV franchise \| MedImmune
Disclosure of intangible assets materials
Intangible assets material to entity	$ 611
Remaining amortisation period of intangible assets material to entity	4 years
Merck
Disclosure of intangible assets materials
Intangible assets material to entity	$ 666
Merck \| Minimum
Disclosure of intangible assets materials
Remaining amortisation period of intangible assets material to entity	5 years
Merck \| Maximum
Disclosure of intangible assets materials
Remaining amortisation period of intangible assets material to entity	8 years
Daiichi Sankyo \| Other intangibles
Disclosure of intangible assets materials
Intangible assets material to entity	$ 1,050
Daiichi Sankyo \| Enhertu
Disclosure of intangible assets materials
Intangible assets material to entity	$ 1,684
Remaining amortisation period of intangible assets material to entity	12 years
BMS's share of Global Diabetes Alliance \| Farxiga/Forxiga
Disclosure of intangible assets materials
Intangible assets material to entity	$ 739
Remaining amortisation period of intangible assets material to entity	5 years
Innate Pharma S.A. \| Monalizumab
Disclosure of intangible assets materials
Intangible assets material to entity	$ 340

Investments in associates and_3

Investments in associates and joint ventures - Rollforward (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Investments in associates and joint ventures
At 1 January	$ 39	$ 58	$ 89
Additions	92	8	74
Share of after tax losses	(64)	(27)	(116)
Exchange and other adjustments	2		11
At 31 December	$ 69	$ 39	$ 58

Investments in associates and_4

Investments in associates and joint ventures - Narration (Details)	Dec. 31, 2021USD ($)director	Jan. 29, 2021USD ($)	Oct. 08, 2019	Oct. 07, 2019USD ($)	Feb. 23, 2018USD ($)	Nov. 27, 2017USD ($)	Dec. 31, 2021USD ($)director	Feb. 28, 2021USD ($)	Jul. 31, 2020	Feb. 28, 2021USD ($)	Dec. 31, 2021USD ($)director	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2021USD ($)director	Dec. 31, 2021USD ($)director	Sep. 23, 2021USD ($)	May 31, 2020USD ($)director
Less than 100% Subsidiaries and Joint Ventures
Cash proceeds from divestment											$ 776,000,000
Net assets	$ 39,287,000,000						$ 39,287,000,000				39,287,000,000	$ 15,638,000,000	$ 14,596,000,000	$ 39,287,000,000	$ 39,287,000,000
Investment carry value in associates and joint ventures that have unrecognised losses	$ 0						$ 0				0			$ 0	$ 0
Unrecognised losses in associates and joint ventures											$ 73,000,000	56,000,000	3,000,000
Viela Bio
Less than 100% Subsidiaries and Joint Ventures
Investments in associates																	$ 26.7
Proportion of interest in joint venture			29.00%
Number of board members representing AstraZeneca \| director																	1
Number of board members \| director																	7
Transitional research and development services												3,000,000	13,000,000
Third-party costs passed on to related party										$ 1,000,000		15,000,000	24,000,000
Contribution paid into an associate				$ 8,000,000
Viela Bio \| Horizon Therapeutics plc
Less than 100% Subsidiaries and Joint Ventures
Proportion of ownership interest divested								26.70%
Cash proceeds from divestment								$ 776,000,000
Wuxi AstraZeneca-CICC Venture Capital Partnership (Limited Partnership)
Less than 100% Subsidiaries and Joint Ventures
Investments in associates												$ 1,000,000
Proportion of interest in associate											22.00%
Additional contributions to associates and joint ventures											$ 45,000,000
IHP
Less than 100% Subsidiaries and Joint Ventures
Investments in associates		$ 30,000,000
Proportion of interest in associate		50.00%
China, Dizal (Jiangsu) Pharmaceutical Co. Limited
Less than 100% Subsidiaries and Joint Ventures
Proportion of interest in associate							27.00%
Number of board members representing AstraZeneca \| director	2						2				2			2	2
Number of board members \| director	11						11				11			11	11
VaxEquity
Less than 100% Subsidiaries and Joint Ventures
Investments in associates																$ 14,000,000
Proportion of interest in associate											40.00%
Centus Biotherapeutics Limited
Less than 100% Subsidiaries and Joint Ventures
Proportion of interest in joint venture	50.00%										50.00%
Additional contributions to associates and joint ventures														$ 130,000,000
Net assets in joint venture or associate attributable to entity	$ 2,000,000						$ 2,000,000				$ 2,000,000			2,000,000	$ 2,000,000
Archigen Biotech Limited
Less than 100% Subsidiaries and Joint Ventures
Investments in joint ventures	$ 0						0				$ 0			0	0
Proportion of interest in joint venture	50.00%										50.00%
Additional contributions to associates and joint ventures															131,000,000
Net assets in joint venture or associate attributable to entity	$ 2,000,000						2,000,000				$ 2,000,000			2,000,000	2,000,000
Viela Bio
Less than 100% Subsidiaries and Joint Ventures
Investments in joint ventures					$ 142,000,000
Proportion of interest in joint venture					45.00%
China, Dizal (Jiangsu) Pharmaceutical Co. Limited
Less than 100% Subsidiaries and Joint Ventures
Investments in joint ventures						$ 55,000,000
Proportion of interest in joint venture						48.00%			30.00%
Additional contributions to associates and joint ventures													$ 25,000,000
Centus Biotherapeutics Limited
Less than 100% Subsidiaries and Joint Ventures
Net assets	4,000,000						4,000,000				4,000,000			4,000,000	4,000,000
Archigen Biotech Limited
Less than 100% Subsidiaries and Joint Ventures
Net assets	$ 3,000,000						$ 3,000,000				$ 3,000,000			$ 3,000,000	$ 3,000,000

Investments in associates and_5

Investments in associates and joint ventures - Financial information (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of associate and joint ventures
Non-current assets	$ 79,119	$ 47,185	$ 45,814
Current assets	26,244	19,544	15,563
Total liabilities	(66,076)	(51,091)	(46,781)
Current liabilities	(22,594)	(20,307)	(18,117)
Net assets	39,287	15,638	14,596
Total investments in subsidiaries, joint ventures and associates	69	39	58	$ 89
Associate and joint ventures
Disclosure of associate and joint ventures
Non-current assets	215	324	298
Current assets	506	552	447
Total liabilities	(99)	(105)	(89)
Net assets	622	771	656
Amount attributable to AstraZeneca	65	38	64
Exchange adjustments	$ (4)	$ (1)	$ 6

Other investments (Details)

Other investments (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Other investments
Equity securities at fair value through other comprehensive income	$ 1,168	$ 1,108	$ 1,339
Other investments - non-current	1,168	1,108	1,401
Fixed deposits	53	42	38
Other investments - current	69	160	849
Equity investments
Other investments
Equity securities at fair value through other comprehensive income	1,168	1,108	1,339
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	$ 16	$ 118	$ 811

Other investments - Fair value

Other investments - Fair value hierarchy (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2019
Other investments
FVPL	$ 118	$ 16	$ 873
FVOCI	1,108	1,168	1,339
Moderna Therapeutics Inc.
Other investments
Consideration received	1,381
Level 1
Other investments
FVPL	118	16	873
FVOCI	891	1,064	1,112
Level 3
Other investments
FVOCI	$ 217	$ 104	$ 227

Other investments - Level 3 inv

Other investments - Level 3 investments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Other investments
Assets at beginning of period	$ 66,729	$ 61,377
Assets at end of period	105,363	66,729	$ 61,377
Other investments
Other investments
Assets at beginning of period	217	227	166
Additions	1	96	5
Revaluations		63	56
Net transfers (out)/in	(113)	(103)	2
Disposals		(86)	(5)
Impairments and exchange adjustments	(1)	20	3
Assets at end of period	$ 104	$ 217	$ 227

Derivative financial instrume_3

Derivative financial instruments - Assets and liabilities (Details) € in Millions, $ in Millions	Dec. 31, 2021USD ($)	Dec. 31, 2021EUR (€)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Disclosure of detailed information about hedges
Non-current assets	$ 102		$ 171	$ 61
Current assets	83		142	36
Current liabilities	(79)		(33)	(36)
Non-current liabilities	(45)		(2)	(18)
Total	61		278	43
Borrowings	$ 30,781		20,380	18,227
0.875% Non-callable bond due 2021
Disclosure of detailed information about hedges
Borrowings \| €		€ 750
Interest rate on borrowings	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	$ 25			43
Total	25			43
Other derivatives
Disclosure of detailed information about hedges
Non-current assets	15
Current assets	70		48	36
Current liabilities	(79)		(30)	(36)
Total	6		18
Equity warrants
Disclosure of detailed information about hedges
Non-current assets	15
Instruments in a fair value hedge relationship \| 0.875% Non-callable bond due 2021
Disclosure of detailed information about hedges
Borrowings covered by hedges \| €		€ 300
Instruments in a fair value hedge relationship \| Interest rate swaps
Disclosure of detailed information about hedges
Non-current assets			45
Total			45
Instruments in a fair value hedge relationship \| Cross currency swaps
Disclosure of detailed information about hedges
Non-current assets				10
Current assets			43
Total			43	10
Instruments designated in cash flow hedge \| Cross currency swaps
Disclosure of detailed information about hedges
Non-current assets			107	4
Current assets			43
Non-current liabilities	(43)			(17)
Total	(43)		150	(13)
Instruments designated in cash flow hedge \| Forward contract
Disclosure of detailed information about hedges
Current assets	13		8
Current liabilities			(3)
Total	13		5
Investments in foreign operations \| Cross currency swaps
Disclosure of detailed information about hedges
Non-current assets	62		19	4
Non-current liabilities	(2)		(2)	(1)
Total	$ 60		$ 17	$ 3

Derivative financial instrume_4

Derivative financial instruments - Interest rates (Details) - Derivatives	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Minimum
Disclosure of financial instruments by interest rate
Discount rate on cash flow projections	(0.50%)	(0.50%)	(0.50%)
Maximum
Disclosure of financial instruments by interest rate
Discount rate on cash flow projections	3.60%	2.40%	2.70%

Non-current other receivables_2

Non-current other receivables (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of other non-current receivables
Prepayments	$ 391	$ 395	$ 392
Accrued income	61	56	10
Other receivables	443	269	338
Non current other receivables	895	720	740
Circassia Pharmaceuticals PLC
Disclosure of other non-current receivables
Non current other receivables	0	0	118
FibroGen, Inc.
Disclosure of other non-current receivables
Non current other receivables	44	56	53
Moderna Therapeutics
Disclosure of other non-current receivables
Prepayments	$ 92	$ 121	$ 125

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	12 Months Ended
Inventories (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Inventories
Raw materials and consumables	$ 1,755	$ 1,262	$ 830
Inventories in process	5,216	1,331	1,272
Finished goods and goods for resale	2,012	1,431	1,091
Inventories	8,983	4,024	3,193
Cost Of Inventories Recognised As Expense	9,640	3,110	2,708
Inventory write-offs	$ 552	$ 149	$ 231

Current trade and other recei_3

Current trade and other receivables (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current trade and other receivables
Total trade and other current receivables	$ 9,644	$ 7,022	$ 5,761
Trade receivables - subject to factoring
Current trade and other receivables
Trade receivables	1,865	1,250	892
Due within one year
Current trade and other receivables
Trade receivables	6,054	3,829	3,606
Less: Amounts provided for doubtful debts (Note 28)	(23)	(23)	(21)
Net current trade and other receivables	6,031	3,806	3,585
Other receivables	1,808	1,278	1,083
Prepayments	1,512	1,735	865
Government grants receivable		53
Accrued income	$ 293	$ 150	$ 228

Cash and cash equivalents (Deta

Cash and cash equivalents (Details) - USD ($) $ in Millions	12 Months Ended
Cash and cash equivalents (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash and cash equivalents.
Cash at bank and in hand	$ 1,461	$ 1,182	$ 755
Short-term deposits	4,868	6,650	4,614
Cash and cash equivalents	6,329	7,832	5,369
Unsecured bank overdrafts	(291)	(286)	(146)
Total cash and cash equivalents net of overdrafts	6,038	7,546	5,223	$ 4,671
Cash and cash equivalents held in escrow, insurance solvency, capital and security requirements	$ 0	$ 0	$ 1

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, 2021	Dec. 31, 2020	Dec. 31, 2019
Non-cash and other movements within operating activities
Net cash inflow from operating activities	$ 5,963	$ 4,799	$ 2,969
Changes on fair value of put option (Acerta Pharma)			172
Share-based payments charge for the period	615	277	259
Settlement of share plan awards	(570)	(349)	(323)
Pension contributions	(174)	(172)	(175)
Pension charges recorded in operating profit	136	84	59
Long-term provision charges recorded in operating profit	270	66	506
Non-cash intangible additions		(120)
Foreign exchange and other	(182)	(62)	(120)
Total operating activities non-cash and other movements	$ 95	$ (276)	$ 378

Assets held for sale (Details)

Assets held for sale (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Noncurrent Assets OrDisposal Groups Classified As Held For Sale [Line items]
Contingent consideration current	$ 849	$ 647	$ 897
Assets held for sale	368	$ 0	$ 70
Assets held for sale and related liabilities
Noncurrent Assets OrDisposal Groups Classified As Held For Sale [Line items]
Contingent consideration current	$ 126

Interest-bearing loans and bo_3

Interest-bearing loans and borrowings (Details) € in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2021EUR (€)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Interest bearing loans and borrowings
Lease liabilities	$ 233		$ 192	$ 188
Current debt	1,660		2,194	1,822
Total current debt and lease liabilities	1,893		2,386	2,010
Non-current liabilities	28,134		17,505	15,730
Lease liabilties	754		489	487
Total non-current debt and lease liabilities	28,888		17,994	16,217
Total borrowings	$ 30,781		20,380	18,227
Notice period to switch loans to compounded secured overnight funding rate	5 days
Current interest-bearing loans and borrowings
Interest bearing loans and borrowings
Secured loans and borrowings	$ 24
Non-current interest-bearing loans and borrowings
Interest bearing loans and borrowings
Secured loans and borrowings	188
Overdrafts
Interest bearing loans and borrowings
Current debt	291		286	146
Other Short-term borrowings excluding overdrafts
Interest bearing loans and borrowings
Current debt	3		84	8
Bank collateral
Interest bearing loans and borrowings
Current debt	93		288	71
Lease liabilities
Interest bearing loans and borrowings
Lease liabilities	233		192	188
Lease liabilties	$ 754		489	487
2.375% Callable bond due 2020
Interest bearing loans and borrowings
Current debt				1,597
0.25% Callable bond due 2021
Interest bearing loans and borrowings
Current debt			614
Non-current liabilities				559
Interest rate on borrowings	0.25%	0.25%
0.875% Non-callable bond due 2021
Interest bearing loans and borrowings
Current debt			919
Non-current liabilities				837
Total borrowings \| €		€ 750
Interest rate on borrowings	0.875%	0.875%
Floating rate notes due 2022
Interest bearing loans and borrowings
Current debt	$ 250
Non-current liabilities			250	250
2.375% Callable bond due 2022
Interest bearing loans and borrowings
Current debt	$ 999
Non-current liabilities			996	996
Interest rate on borrowings	2.375%	2.375%
Other loans (including commercial paper)
Interest bearing loans and borrowings
Current debt	$ 24		3
2.375% Callable bond
Interest bearing loans and borrowings
Interest rate on borrowings	2.375%	2.375%
0.3% Callable bond due 2023
Interest bearing loans and borrowings
Non-current liabilities	$ 1,397
Interest rate on borrowings	0.30%	0.30%
7% Guaranteed debentures
Interest bearing loans and borrowings
Non-current liabilities	$ 320		339	335
Total borrowings	$ 288
Interest rate on borrowings	7.00%	7.00%
2023 floating bank loan due 2023
Interest bearing loans and borrowings
Non-current liabilities	$ 1,998
Floating rate loan due 2023
Interest bearing loans and borrowings
Non-current liabilities	400		400	400
Floating rate loan due 2023 \| LIBOR
Interest bearing loans and borrowings
Non-current liabilities	2,000
3.5% Callable bond due 2023
Interest bearing loans and borrowings
Non-current liabilities	$ 848		847	846
Interest rate on borrowings	3.50%	3.50%
0.7% Callable bond due 2024
Interest bearing loans and borrowings
Non-current liabilities	$ 1,598
Interest rate on borrowings	0.70%	0.70%
0.75% Callable bond due 2024
Interest bearing loans and borrowings
Non-current liabilities	$ 1,014		1,102	1,003
Interest rate on borrowings	0.75%	0.75%
2024 Floating bank loan due 2024
Interest bearing loans and borrowings
Non-current liabilities	$ 1,997
3.375% Callable bond due 2025
Interest bearing loans and borrowings
Non-current liabilities	$ 1,988		1,985	1,983
Interest rate on borrowings	3.375%	3.375%
0.7% Callable bond due 2026
Interest bearing loans and borrowings
Non-current liabilities	$ 1,193		1,192
Interest rate on borrowings	0.70%	0.70%
1.2% Callable bond due 2026
Interest bearing loans and borrowings
Non-current liabilities	$ 1,245
Interest rate on borrowings	1.20%	1.20%
3.125% Callable bond due 2027
Interest bearing loans and borrowings
Non-current liabilities	$ 745		744	743
Interest rate on borrowings	3.125%	3.125%
1.25% Callable bond due 2028
Interest bearing loans and borrowings
Non-current liabilities	$ 896		973	885
Interest rate on borrowings	1.25%	1.25%
1.75% Callable bond due 2028
Interest bearing loans and borrowings
Non-current liabilities	$ 1,244
Interest rate on borrowings	1.75%	1.75%
4% Callable bond due 2029
Interest bearing loans and borrowings
Non-current liabilities	$ 994		993	992
Interest rate on borrowings	4.00%	4.00%
0.375% Callable bond due 2029
Interest bearing loans and borrowings
Non-current liabilities	$ 898
Interest rate on borrowings	0.375%	0.375%
1.375% Callable bond due 2030
Interest bearing loans and borrowings
Non-current liabilities	$ 1,292		1,291
Interest rate on borrowings	1.375%	1.375%
2.25% Callable bond due 2031
Interest bearing loans and borrowings
Non-current liabilities	$ 746
Interest rate on borrowings	2.25%	2.25%
5.75% Non-callable bond due 2031
Interest bearing loans and borrowings
Non-current liabilities	$ 470		475	457
Interest rate on borrowings	5.75%	5.75%
6.45% Callable bond due 2037
Interest bearing loans and borrowings
Non-current liabilities	$ 2,724		2,722	2,721
Interest rate on borrowings	6.45%	6.45%
4% Callable bond due 2042
Interest bearing loans and borrowings
Non-current liabilities	$ 988		988	987
Interest rate on borrowings	4.00%	4.00%
4.375% Callable bond due 2045
Interest bearing loans and borrowings
Non-current liabilities	$ 980		980	980
Interest rate on borrowings	4.375%	4.375%
4.375% Callable bond due 2048
Interest bearing loans and borrowings
Non-current liabilities	$ 737		737	737
Interest rate on borrowings	4.375%	4.375%
2.125% Callable bond due 2050
Interest bearing loans and borrowings
Non-current liabilities	$ 486		486
Interest rate on borrowings	2.125%	2.125%
3% Callable bond due 2051
Interest bearing loans and borrowings
Non-current liabilities	$ 734
Interest rate on borrowings	3.00%	3.00%
Other loans
Interest bearing loans and borrowings
Non-current liabilities	$ 202		$ 5	$ 19
Floating rate loan due 2024 \| LIBOR
Interest bearing loans and borrowings
Non-current liabilities	$ 2,000

Interest-bearing loans and bo_4

Interest-bearing loans and borrowings - Rollforward (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019
Reconciliation of liabilities
Liabilities arising from financing activities at beginning of period	$ 20,380	$ 18,227	$ 19,113
Lease liabilities	987	681	675
Issue of loans and borrowings	12,929	2,968	500
Repayment of loans and borrowings	(4,759)	(1,609)	(1,500)
Movement in short-term borrowings	(276)	288	(516)
Repayment of obligations under leases	(240)	(207)	(186)
Total changes in liabilities arising on financing activities from borrowings	7,654	1,440	(1,702)
Movement in overdrafts	31	138	(13)
New lease liabilities	503	174	173
Additions through business combinations	2,523
Exchange	(378)	363	(62)
Other movements	68	38	(2)
Liabilities arising from financing activities at end of period	$ 30,781	$ 20,380	$ 18,227
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, 2021USD ($)	Dec. 31, 2021EUR (€)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Category of carrying values and fair values
Total carrying value	$ 30,781		$ 20,380	$ 18,227
Fair value	33,252		23,825	20,549
Borrowings	30,781		20,380	18,227
Interest rate swaps
Category of carrying values and fair values
Total carrying value	30,781		20,380	18,227
Due within one year
Category of carrying values and fair values
Borrowings	1,900
Instruments at fair value through profit or loss
Category of carrying values and fair values
Total carrying value	320		339	335
Gain on fair value of bonds due to increase credit risk	29
Amortised cost
Category of carrying values and fair values
Total carrying value	28,551		16,981	15,106
Instruments in a fair value hedge relationship
Category of carrying values and fair values
Total carrying value			371	339
Instruments designated in cash flow hedge
Category of carrying values and fair values
Total carrying value	1,910		2,689	2,447
Overdrafts
Category of carrying values and fair values
Total carrying value	291		286	146
Fair value	291		286	146
Overdrafts \| Amortised cost
Category of carrying values and fair values
Total carrying value	291		286	146
Lease liabilities \| Due within one year
Category of carrying values and fair values
Total carrying value	233		192	188
Fair value	233		192	188
Lease liabilities \| Due after more than one year
Category of carrying values and fair values
Total carrying value	754		489	487
Fair value	754		489	487
Lease liabilities \| Amortised cost \| Due within one year
Category of carrying values and fair values
Total carrying value	233		192	188
Lease liabilities \| Amortised cost \| Due after more than one year
Category of carrying values and fair values
Total carrying value	754		489	487
Loans \| Due within one year
Category of carrying values and fair values
Total carrying value	1,369		1,908	1,676
Fair value	1,378		1,922	1,684
Loans \| Due after more than one year
Category of carrying values and fair values
Total carrying value	28,134		17,505	15,730
Fair value	30,596		20,936	18,044
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	320		339	335
Loans \| Amortised cost \| Due within one year
Category of carrying values and fair values
Total carrying value	1,369		923	1,676
Loans \| Amortised cost \| Due after more than one year
Category of carrying values and fair values
Total carrying value	25,904		15,091	12,609
Loans \| Instruments in a fair value hedge relationship \| Due within one year
Category of carrying values and fair values
Total carrying value			371
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
Loans \| Instruments designated in cash flow hedge \| Due within one year
Category of carrying values and fair values
Total carrying value			614
Loans \| Instruments designated in cash flow hedge \| Due after more than one year
Category of carrying values and fair values
Total carrying value	$ 1,910		$ 2,075	$ 2,447
0.875% Non-callable bond due 2021
Category of carrying values and fair values
Borrowings \| €		€ 750
Interest rate on borrowings	0.875%	0.875%
Loss on fair value hedge adjustment	$ 10
0.875% Non-callable bond due 2021 \| Instruments in a fair value hedge relationship
Category of carrying values and fair values
Total carrying value \| €		€ 300
7% Guaranteed debentures
Category of carrying values and fair values
Borrowings	$ 288
Interest rate on borrowings	7.00%	7.00%
7% Guaranteed debentures \| Instruments at fair value through profit or loss
Category of carrying values and fair values
Interest rate on borrowings	7.00%	7.00%

Interest-bearing loans and bo_6

Interest-bearing loans and borrowings - Interest rates used to discount future cash flows (Details) - Borrowings	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Minimum
Interest rates used to discount future cash flows
Weighted average pre-tax discount rate	0.10%	(0.50%)	(0.50%)
Maximum
Interest rates used to discount future cash flows
Weighted average pre-tax discount rate	0.60%	0.10%	1.60%

Trade and other payables (Detai

Trade and other payables (Details) - USD ($)	12 Months Ended
Trade and other payables (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current liabilities
Trade payables	$ 2,824,000,000	$ 2,350,000,000	$ 1,774,000,000
Value added and payroll taxes and social security	463,000,000	390,000,000	323,000,000
Rebates, chargebacks, returns and other revenue accruals	5,298,000,000	4,772,000,000	4,410,000,000
Clinical trial accruals	1,047,000,000	699,000,000	736,000,000
Other accruals	5,649,000,000	3,905,000,000	4,026,000,000
Collaboration revenue contract liabilities	12,000,000	12,000,000	28,000,000
Vaccine contract liabilities	1,003,000,000	1,616,000,000
Deferred government grant income	67,000,000	253,000,000
Contingent consideration	849,000,000	647,000,000	897,000,000
Acerta Pharma share purchase liability	920,000,000
Other payables	806,000,000	1,141,000,000	1,793,000,000
Total	18,938,000,000	15,785,000,000	13,987,000,000
Contract liabilities within rebates, chargebacks, returns and other accruals	99,000,000	77,000,000	97,000,000
Non-current liabilities
Accruals	25,000,000	56,000,000	34,000,000
Collaboration revenue contract liabilities	26,000,000	38,000,000	50,000,000
Contingent consideration	2,016,000,000	2,676,000,000	3,242,000,000
Acerta Pharma share purchase/put option liability	1,538,000,000	2,297,000,000	2,146,000,000
Other payables	1,328,000,000	1,017,000,000	819,000,000
Total	4,933,000,000	6,084,000,000	6,291,000,000
Trade payables
Trade payables, supply chain financing programme	44,000,000	248,000,000	492,000,000
Acerta Pharma
Current liabilities
Remeasurement of put option	0	0
Non-current liabilities
Amortised cost of the option liability	2,458,000,000	2,297,000,000	2,146,000,000
US
Current liabilities
Provision for contract with customer liability	3,172,000,000	3,126,000,000	3,385,000,000
China
Current liabilities
Provision for contract with customer liability	814,000,000	740,000,000	452,000,000
Daiichi Sankyo
Current liabilities
Other payables		146,000,000	795,000,000
Non-current liabilities
Other payables	100,000,000	100,000,000	241,000,000
Contract Revenue
Current liabilities
Contract liabilities	70,000,000
Trade payables
Revenue recognised in the year for previous contract liabilities	70,000,000
Other Revenue
Current liabilities
Contract liabilities	58,000,000
Trade payables
Revenue recognised in the year for previous contract liabilities	58,000,000
Collaboration Revenue
Current liabilities
Contract liabilities	12,000,000
Trade payables
Revenue recognised in the year for previous contract liabilities	12,000,000
DS-1062
Current liabilities
Other payables	324,000,000	324,000,000	0
Non-current liabilities
Other payables		$ 323,000,000	$ 0
Pandemic COVID-19 Vaccine
Current liabilities
Contract liabilities	1,389,000,000
Trade payables
Revenue recognised in the year for previous contract liabilities	$ 1,389,000,000

Trade and other payables - Cont

Trade and other payables - Contingent consideration (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of changes in contingent liabilities in business combination
Contingent liabilities recognised in business combination at beginning of period	$ 3,323	$ 4,139	$ 5,106
Settlements	(643)	(822)	(709)
Revaluations	14	(272)	(614)
Reclassification to other payables	(55)
Discount unwind	226	278	356
Contingent liabilities recognised in business combination at end of period	$ 2,865	3,323	4,139
Minimum
Reconciliation of changes in contingent liabilities in business combination
Discount rate - contingent consideration	3.00%
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	$ 2,932	3,300
Contingent liabilities recognised in business combination at end of period	2,544	2,932	3,300
Revaluations of contingent consideration	42	$ (51)	$ (516)
Increase/decrease in contingent consideration balance with change in current estimates	$ 254
The increase/decrease in sales estimates	10.00%
Discount rate - contingent consideration	8.00%

Trade and other payables - Deve

Trade and other payables - Development and sales milestones payable (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Trade and other payables
Maximum future milestones	$ 2,865	$ 3,323	$ 4,139	$ 5,106
BMS's share of Global Diabetes Alliance
Trade and other payables
Maximum future milestones	2,544	$ 2,932	$ 3,300
Maximum \| Spirogen
Trade and other payables
Maximum future milestones	180
Maximum \| Amplimmune
Trade and other payables
Maximum future milestones	150
Maximum \| Almirall
Trade and other payables
Maximum future milestones	$ 420

Provisions (Details)

Provisions (Details) - USD ($) $ in Millions	12 Months Ended
Provisions (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Other Provisions
At January 1	$ 1,560	$ 1,564	$ 891
Additions through business combinations	141
Transfers in		258
Charge for year	872	276	1,061
Cash paid	(622)	(491)	(338)
Reversals	(242)	(132)	(76)
Exchange and other movements	15	85	26
At 31 December	1,724	1,560	1,564
Current provision	768	976	723
Non current provision	956	584	841
Total	1,724	1,560	1,564
Due within one year
Other Provisions
Current provision	768	976	723
Due after more than one year
Other Provisions
Non current provision	956	584	841
Restructuring provisions [Member]
Other Provisions
At January 1	214	241	226
Charge for year	238	116	158
Cash paid	(172)	(62)	(115)
Reversals	(62)	(89)	(30)
Exchange and other movements	(6)	8	2
At 31 December	212	214	241
Total	212	214	241
Environmental
Other Provisions
At January 1	100	96	97
Charge for year	23	34	31
Cash paid	(32)	(30)	(39)
Reversals			(1)
Exchange and other movements	(1)		8
At 31 December	90	100	96
Total	90	100	96
Employee benefits
Other Provisions
At January 1	128	130	119
Additions through business combinations	41
Charge for year	46	15	18
Cash paid	(49)	(48)	(13)
Reversals		(2)
Exchange and other movements	29	33	6
At 31 December	195	128	130
Total	195	128	130
Legal
Other Provisions
At January 1	348	642	198
Additions through business combinations	73
Charge for year	109	16	618
Cash paid	(285)	(295)	(147)
Reversals	(5)	(14)	(28)
Exchange and other movements	(1)	(1)	1
At 31 December	239	348	642
Total	239	348	642
Other provisions.
Other Provisions
At January 1	770	455	251
Additions through business combinations	27
Transfers in		258
Charge for year	456	95	236
Cash paid	(84)	(56)	(24)
Reversals	(175)	(27)	(17)
Exchange and other movements	(6)	45	9
At 31 December	988	770	455
Total	988	770	455
Third-party liabilities and other risks
Other Provisions
At January 1	258	0
At 31 December	185	258	0
Total	185	$ 258	$ 0
Post Alexion Acquisition Group Review restructuring programme
Other Provisions
Charge for year	$ 243

Post-retirement and other def_3

Post-retirement and other defined benefit schemes - Pensions (Details) £ in Millions	1 Months Ended		12 Months Ended
	Mar. 31, 2020USD ($)	Oct. 31, 2016GBP (£)	Dec. 31, 2022USD ($)	Dec. 31, 2021GBP (£)plan	Dec. 31, 2021USD ($)employeeplaninstallment	Dec. 31, 2017GBP (£)installment	Dec. 31, 2020USD ($)employee	Dec. 31, 2019employee
Post-retirement benefits
Number of employees \| employee					83,100		76,100	70,600
Plan liabilities					$ 13,018,000,000
Market value of plan assets					10,564,000,000		$ 10,668,000,000
SWEDEN \| Forecast
Post-retirement benefits
Deficit recovery contribution			$ 39,000,000
UK defined benefit plans \| Forecast
Post-retirement benefits
Further contribution			$ 19,000,000
Pension schemes
Post-retirement benefits
Plan liabilities					$ 13,018,000,000		13,870,000,000
Market value of plan assets							$ 10,668,000,000
Pension schemes \| UK, US and Sweden
Post-retirement benefits
Total defined benefit obligations as a percentage of total					90.00%
Net defined benefit obligations as a percentage of total					71.00%
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)					3.30%		2.90%
Pension increases assumption (as a percent)					3.10%		2.80%
Plan liabilities					$ 7,941,000,000		$ 8,425,000,000
Market value of plan assets					$ 7,333,000,000		$ 7,179,000,000
Refund adjustments required in respect of governing documentation \| £				£ 0
Pension schemes \| Rest of Group defined benefit plans
Post-retirement benefits
Inflation assumption (as a percent)					2.20%		1.60%
Salary increases assumption (as a percent)					3.70%		3.10%
Pension increases assumption (as a percent)					2.20%		1.60%
Plan liabilities					$ 1,300,000,000		$ 1,319,000,000
Market value of plan assets					584,000,000		581,000,000
Pension schemes \| Rest of Group defined benefit plans \| US
Post-retirement benefits
Plan liabilities					1,404,000,000		1,601,000,000
Market value of plan assets					$ 1,413,000,000		$ 1,570,000,000
Pension schemes \| Rest of Group defined benefit plans \| SWEDEN
Post-retirement benefits
Inflation assumption (as a percent)					2.30%		1.50%
Salary increases assumption (as a percent)					3.80%		3.00%
Pension increases assumption (as a percent)					2.30%		1.50%
Plan liabilities					$ 2,373,000,000		$ 2,525,000,000
Market value of plan assets					$ 1,234,000,000		1,338,000,000
UK defined benefit pension \| UK defined benefit plans
Post-retirement benefits
Deficit recovery contribution	$ 39,000,000
Contribution	$ 29,000,000
Letter of credit for additional deficit recovery contribution payment \| £						£ 126
Number of equal instalments \| installment						5
Number of instalments paid \| installment					4
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 \| Minimum
Post-retirement benefits
Number of employees \| employee					497
UK defined benefit pension \| UK defined benefit plans \| Due within one year
Post-retirement benefits
Further contribution				£ 30	$ 39,000,000
US defined benefit pension \| Rest of Group defined benefit plans \| US
Post-retirement benefits
Total defined benefit obligations as a percentage of total					11.00%
Plan liabilities							1,257,000,000
Market value of plan assets							1,198,000,000
Additional contributions required					$ 0
Sweden defined benefit pension \| Rest of Group defined benefit plans \| SWEDEN
Post-retirement benefits
Total defined benefit obligations as a percentage of total					18.00%
Plan liabilities							2,373,000,000
Market value of plan assets							$ 1,234,000,000
Three main country defined benefit plans \| UK, US and Sweden \| Due within one year
Post-retirement benefits
Further contribution					$ 10,000,000

Post-retirement and other def_4

Post-retirement and other defined benefit schemes - Post-retirement benefits other than pensions (Details) $ in Millions	Jan. 01, 2021Y	Dec. 31, 2021USD ($)person	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Post-retirement benefits
Market value of plan assets		$ 10,564	$ 10,668
Plan liabilities		13,018
US
Post-retirement benefits
Reduction in liabilities		$ (64)
US \| Minimum
Post-retirement benefits
Age of members subject to change in level of benefits provision \| Y	65
Post-retirement defined benefits other than pensions
Post-retirement benefits
Retired employees and covered dependants that currently benefit \| person		2,831
Current employees that will be eligible on their retirement \| person		1,691
Cost of post-retirement benefits		$ 1	$ 1	$ 3
Market value of plan assets		215
Plan liabilities		$ 170

Post-retirement and other def_5

Post-retirement and other defined benefit schemes - Assumptions (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
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)	3.30%	2.90%
Rate of increase in pensions in payment (as a percent)	3.10%	2.80%
Discount rate - defined benefit obligation (as a percent)	1.90%	1.40%
Discount rate - interest cost	1.90%	1.10%
Discount rate - service cost	1.90%	1.40%
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 6 months	22 years 4 months 24 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	23 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 10 months 24 days	23 years 10 months 24 days
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 2 months 12 days	25 years 1 month 6 days
Pension schemes \| Rest of Group defined benefit plans
Post-retirement benefits
Inflation assumption (as a percent)	2.20%	1.60%
Rate of increase in salaries (as a percent)	3.70%	3.10%
Rate of increase in pensions in payment (as a percent)	2.20%	1.60%
Discount rate - defined benefit obligation (as a percent)	1.20%	0.70%
Discount rate - interest cost	1.00%	0.50%
Discount rate - service cost	1.40%	0.80%
Weighted average duration of the post-retirement scheme obligations	17 years
Pension schemes \| Rest of Group defined benefit plans \| US
Post-retirement benefits
Discount rate - defined benefit obligation (as a percent)	2.80%	2.50%
Discount rate - interest cost	2.20%	1.80%
Discount rate - service cost		1.70%
Weighted average duration of the post-retirement scheme obligations	11 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	21 years 10 months 24 days	21 years 9 months 18 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	23 years 2 months 12 days	24 years 6 months
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 3 months 18 days	23 years 2 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	24 years 10 months 24 days	26 years 1 month 6 days
Pension schemes \| Rest of Group defined benefit plans \| SWEDEN
Post-retirement benefits
Inflation assumption (as a percent)	2.30%	1.50%
Rate of increase in salaries (as a percent)	3.80%	3.00%
Rate of increase in pensions in payment (as a percent)	2.30%	1.50%
Discount rate - defined benefit obligation (as a percent)	1.80%	1.20%
Discount rate - interest cost	1.60%	1.00%
Discount rate - service cost	1.90%	1.20%
Weighted average duration of the post-retirement scheme obligations	19 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 and other def_6

Post-retirement and other defined benefit schemes - Risks (Details) - Pension schemes - UK defined benefit plans $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)person	Dec. 31, 2019	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)	75.00%
Interest rate risk of plan assets hedged (as a percent)	96.00%	91.00%
Annual inflation increase cap (as a percent)	5.00%
Inflation risk of plan assets hedged (as a percent)	76.00%	83.00%
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	$ 2,400
Period of increase in life expectancy to receive cash under hedge	1 year
Increase in pension fund obligations from hedged increase in life expectancy	$ 390
Increase in pension fund assets from hedged increase in life expectancy	$ 203

Post-retirement and other def_7

Post-retirement and other defined benefit schemes - Scheme assets and obligations (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Scheme assets
Cash and cash equivalents	$ 526	$ 259
Other	364	359
Scheme deficit
Total fair value of scheme assets	10,564	10,668
Total value of scheme obligations	(13,018)
Deficit in the scheme as recognised in the Consolidated Statement of Financial Position	(2,454)
Company's own assets included in scheme assets		0
Quoted
Scheme assets
Cash and cash equivalents	261	95
Other	1	(1)
Scheme deficit
Total fair value of scheme assets	4,150	3,521
Unquoted
Scheme assets
Cash and cash equivalents	265	164
Other	363	360
Scheme deficit
Total fair value of scheme assets	6,414	7,147
Scheme obligations
Scheme deficit
Total value of scheme obligations	(13,018)	(13,870)	$ (12,412)
Active membership
Scheme deficit
Total value of scheme obligations	(2,062)
Deferred membership
Scheme deficit
Total value of scheme obligations	(3,585)
Pensioners
Scheme deficit
Total value of scheme obligations	(7,371)
Government bonds
Scheme assets
Debt	2,878	2,302
Government bonds \| Quoted
Scheme assets
Debt	2,878	2,302
Corporate bonds
Scheme assets
Debt	893	908
Corporate bonds \| Quoted
Scheme assets
Debt	893	908
Derivatives
Scheme assets
Derivatives:	22	164
Derivatives \| Quoted
Scheme assets
Derivatives:	1	1
Derivatives \| Unquoted
Scheme assets
Derivatives:	21	163
Investment funds: Listed Equities
Scheme assets
Investment funds:	1,622	2,150
Investment funds: Listed Equities \| Quoted
Scheme assets
Investment funds:	55	165
Investment funds: Listed Equities \| Unquoted
Scheme assets
Investment funds:	1,567	1,985
Investment funds: Absolute Return/Multi Strategy
Scheme assets
Investment funds:	2,997	3,215
Investment funds: Absolute Return/Multi Strategy \| Quoted
Scheme assets
Investment funds:	8	12
Investment funds: Absolute Return/Multi Strategy \| Unquoted
Scheme assets
Investment funds:	2,989	3,203
Investment funds: Corporate Bonds/Credit
Scheme assets
Investment funds:	1,262	1,311
Investment funds: Corporate Bonds/Credit \| Quoted
Scheme assets
Investment funds:	53	39
Investment funds: Corporate Bonds/Credit \| Unquoted
Scheme assets
Investment funds:	1,209	1,272
Pension schemes
Scheme deficit
Total fair value of scheme assets		10,668
Total value of scheme obligations	(13,018)	(13,870)
Deficit in the scheme as recognised in the Consolidated Statement of Financial Position		(3,202)
Pension schemes \| Active membership
Scheme deficit
Total value of scheme obligations		(2,118)
Pension schemes \| Deferred membership
Scheme deficit
Total value of scheme obligations		(3,961)
Pension schemes \| Pensioners
Scheme deficit
Total value of scheme obligations		(7,791)
Pension schemes \| UK defined benefit plans
Scheme deficit
Total fair value of scheme assets	7,333	7,179
Total value of scheme obligations	(7,941)	(8,425)
Deficit in the scheme as recognised in the Consolidated Statement of Financial Position	(608)	(1,246)
Pension schemes \| UK defined benefit plans \| Quoted
Scheme assets
Cash and cash equivalents	34	64
Scheme deficit
Total fair value of scheme assets	2,534	1,993
Pension schemes \| UK defined benefit plans \| Unquoted
Scheme assets
Cash and cash equivalents	261	153
Scheme deficit
Total fair value of scheme assets	4,799	5,186
Pension schemes \| UK defined benefit plans \| Scheme obligations
Scheme deficit
Total value of scheme obligations	(7,941)	(8,425)	(7,580)
Pension schemes \| UK defined benefit plans \| Active membership
Scheme deficit
Total value of scheme obligations	(532)	(598)
Pension schemes \| UK defined benefit plans \| Deferred membership
Scheme deficit
Total value of scheme obligations	(1,709)	(1,887)
Pension schemes \| UK defined benefit plans \| Pensioners
Scheme deficit
Total value of scheme obligations	(5,700)	(5,940)
Pension schemes \| UK defined benefit plans \| Government bonds \| Quoted
Scheme assets
Debt	2,500	1,929
Pension schemes \| UK defined benefit plans \| Derivatives \| Unquoted
Scheme assets
Derivatives:	(237)	(170)
Pension schemes \| UK defined benefit plans \| Investment funds: Listed Equities \| Unquoted
Scheme assets
Investment funds:	1,427	1,771
Pension schemes \| UK defined benefit plans \| Investment funds: Absolute Return/Multi Strategy \| Unquoted
Scheme assets
Investment funds:	2,342	2,463
Pension schemes \| UK defined benefit plans \| Investment funds: Corporate Bonds/Credit \| Unquoted
Scheme assets
Investment funds:	1,006	969
Pension schemes \| Rest of Group defined benefit plans
Scheme deficit
Total fair value of scheme assets	584	581
Total value of scheme obligations	(1,300)	(1,319)
Deficit in the scheme as recognised in the Consolidated Statement of Financial Position	(716)	(738)
Pension schemes \| Rest of Group defined benefit plans \| Quoted
Scheme assets
Other	1	(1)
Scheme deficit
Total fair value of scheme assets	207	205
Pension schemes \| Rest of Group defined benefit plans \| Unquoted
Scheme assets
Cash and cash equivalents	2	4
Other	358	355
Scheme deficit
Total fair value of scheme assets	377	376
Pension schemes \| Rest of Group defined benefit plans \| Scheme obligations
Scheme deficit
Total value of scheme obligations	(1,300)	(1,319)	(1,080)
Pension schemes \| Rest of Group defined benefit plans \| Active membership
Scheme deficit
Total value of scheme obligations	(523)	(468)
Pension schemes \| Rest of Group defined benefit plans \| Deferred membership
Scheme deficit
Total value of scheme obligations	(465)	(504)
Pension schemes \| Rest of Group defined benefit plans \| Pensioners
Scheme deficit
Total value of scheme obligations	(312)	(347)
Pension schemes \| Rest of Group defined benefit plans \| Government bonds \| Quoted
Scheme assets
Debt	75	52
Pension schemes \| Rest of Group defined benefit plans \| Corporate bonds \| Quoted
Scheme assets
Debt	16	30
Pension schemes \| Rest of Group defined benefit plans \| Derivatives \| Quoted
Scheme assets
Derivatives:	(1)	1
Pension schemes \| Rest of Group defined benefit plans \| Investment funds: Listed Equities \| Quoted
Scheme assets
Investment funds:	55	72
Pension schemes \| Rest of Group defined benefit plans \| Investment funds: Listed Equities \| Unquoted
Scheme assets
Investment funds:	6	5
Pension schemes \| Rest of Group defined benefit plans \| Investment funds: Absolute Return/Multi Strategy \| Quoted
Scheme assets
Investment funds:	8	12
Pension schemes \| Rest of Group defined benefit plans \| Investment funds: Corporate Bonds/Credit \| Quoted
Scheme assets
Investment funds:	53	39
Pension schemes \| Rest of Group defined benefit plans \| Investment funds: Corporate Bonds/Credit \| Unquoted
Scheme assets
Investment funds:	11	12
US \| Pension schemes \| Rest of Group defined benefit plans
Scheme deficit
Total fair value of scheme assets	1,413	1,570
Total value of scheme obligations	(1,404)	(1,601)
Deficit in the scheme as recognised in the Consolidated Statement of Financial Position	9	(31)
US \| Pension schemes \| Rest of Group defined benefit plans \| Quoted
Scheme assets
Cash and cash equivalents	227	31
Scheme deficit
Total fair value of scheme assets	1,409	1,323
US \| Pension schemes \| Rest of Group defined benefit plans \| Unquoted
Scheme assets
Other	5	5
Scheme deficit
Total fair value of scheme assets	4	247
US \| Pension schemes \| Rest of Group defined benefit plans \| Scheme obligations
Scheme deficit
Total value of scheme obligations	(1,404)	(1,601)	(1,592)
US \| Pension schemes \| Rest of Group defined benefit plans \| Active membership
Scheme deficit
Total value of scheme obligations	(81)	(99)
US \| Pension schemes \| Rest of Group defined benefit plans \| Deferred membership
Scheme deficit
Total value of scheme obligations	(693)	(787)
US \| Pension schemes \| Rest of Group defined benefit plans \| Pensioners
Scheme deficit
Total value of scheme obligations	(630)	(715)
US \| Pension schemes \| Rest of Group defined benefit plans \| Government bonds \| Quoted
Scheme assets
Debt	303	321
US \| Pension schemes \| Rest of Group defined benefit plans \| Corporate bonds \| Quoted
Scheme assets
Debt	877	878
US \| Pension schemes \| Rest of Group defined benefit plans \| Derivatives \| Quoted
Scheme assets
Derivatives:	2
US \| Pension schemes \| Rest of Group defined benefit plans \| Derivatives \| Unquoted
Scheme assets
Derivatives:	(1)
US \| Pension schemes \| Rest of Group defined benefit plans \| Investment funds: Listed Equities \| Quoted
Scheme assets
Investment funds:		93
US \| Pension schemes \| Rest of Group defined benefit plans \| Investment funds: Listed Equities \| Unquoted
Scheme assets
Investment funds:		90
US \| Pension schemes \| Rest of Group defined benefit plans \| Investment funds: Absolute Return/Multi Strategy \| Unquoted
Scheme assets
Investment funds:		72
US \| Pension schemes \| Rest of Group defined benefit plans \| Investment funds: Corporate Bonds/Credit \| Unquoted
Scheme assets
Investment funds:		80
SWEDEN \| Pension schemes \| Rest of Group defined benefit plans
Scheme deficit
Total fair value of scheme assets	1,234	1,338
Total value of scheme obligations	(2,373)	(2,525)
Deficit in the scheme as recognised in the Consolidated Statement of Financial Position	(1,139)	(1,187)
SWEDEN \| Pension schemes \| Rest of Group defined benefit plans \| Unquoted
Scheme assets
Cash and cash equivalents	2	7
Scheme deficit
Total fair value of scheme assets	1,234	1,338
SWEDEN \| Pension schemes \| Rest of Group defined benefit plans \| Scheme obligations
Scheme deficit
Total value of scheme obligations	(2,373)	(2,525)	$ (2,160)
SWEDEN \| Pension schemes \| Rest of Group defined benefit plans \| Active membership
Scheme deficit
Total value of scheme obligations	(926)	(953)
SWEDEN \| Pension schemes \| Rest of Group defined benefit plans \| Deferred membership
Scheme deficit
Total value of scheme obligations	(718)	(783)
SWEDEN \| Pension schemes \| Rest of Group defined benefit plans \| Pensioners
Scheme deficit
Total value of scheme obligations	(729)	(789)
SWEDEN \| Pension schemes \| Rest of Group defined benefit plans \| Derivatives \| Unquoted
Scheme assets
Derivatives:	259	333
SWEDEN \| Pension schemes \| Rest of Group defined benefit plans \| Investment funds: Listed Equities \| Unquoted
Scheme assets
Investment funds:	134	119
SWEDEN \| Pension schemes \| Rest of Group defined benefit plans \| Investment funds: Absolute Return/Multi Strategy \| Unquoted
Scheme assets
Investment funds:	647	668
SWEDEN \| Pension schemes \| Rest of Group defined benefit plans \| Investment funds: Corporate Bonds/Credit \| Unquoted
Scheme assets
Investment funds:	$ 192	$ 211

Post-retirement and other def_8

Post-retirement and other defined benefit schemes - Change in fair value of scheme assets (Details) - Scheme assets - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Movement
Beginning of year	$ 10,668	$ 9,605
Interest income on scheme assets	118	169
Expenses	7	9
Actuarial gains/(losses)	415	760
Exchange and other adjustments	(213)	499
Employer contributions	174	172
Participant contributions	4	4
Benefits paid	595	532
End of year	10,564	10,668
Actual return on the plan assets	533	929
Pension schemes \| UK defined benefit plans
Movement
Beginning of year	7,179	6,464
Interest income on scheme assets	75	111
Expenses	7	6
Actuarial gains/(losses)	372	501
Exchange and other adjustments	(77)	299
Employer contributions	122	131
Participant contributions	2	2
Benefits paid	333	323
End of year	7,333	7,179
Pension schemes \| Rest of Group defined benefit plans
Movement
Beginning of year	581	512
Interest income on scheme assets	4	5
Expenses		1
Actuarial gains/(losses)	3	27
Exchange and other adjustments	1	38
Employer contributions	28	25
Participant contributions	2	2
Benefits paid	35	27
End of year	584	581
US \| Pension schemes \| Rest of Group defined benefit plans
Movement
Beginning of year	1,570	1,506
Interest income on scheme assets	27	39
Expenses		2
Actuarial gains/(losses)	(22)	148
Exchange and other adjustments	(5)
Employer contributions	19	14
Benefits paid	176	135
End of year	1,413	1,570
SWEDEN \| Pension schemes \| Rest of Group defined benefit plans
Movement
Beginning of year	1,338	1,123
Interest income on scheme assets	12	14
Actuarial gains/(losses)	62	84
Exchange and other adjustments	(132)	162
Employer contributions	5	2
Benefits paid	51	47
End of year	$ 1,234	$ 1,338

Post-retirement and other def_9

Post-retirement and other defined benefit schemes - Movement in and components of scheme obligations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Movement
End of year	$ 13,018
Obligations of plans	(13,018)
Scheme obligations
Movement
Beginning of year	13,870	$ 12,412
Current service cost	(123)	(104)
Past service (cost)/credit	(5)	29
Participant contributions	(4)	(4)
Benefits paid	595	532
Interest expense on post-retirement scheme obligations	(145)	(206)
Actuarial gains/(losses)	211	(928)
Exchange and other adjustments	323	(777)
End of year	13,018	13,870
Obligations of plans	(13,018)	(13,870)
Pension schemes
Movement
Beginning of year	13,870
End of year	13,018	13,870
Obligations of plans	(13,018)	(13,870)
Pension schemes \| Funded pension schemes
Movement
Beginning of year	12,868
End of year	12,636	12,868
Obligations of plans	(12,636)	(12,868)
Pension schemes \| Funded post-retirement healthcare
Movement
Beginning of year	169
End of year	143	169
Obligations of plans	(143)	(169)
Pension schemes \| Unfunded pension schemes
Movement
Beginning of year	793
End of year	212	793
Obligations of plans	(212)	(793)
Pension schemes \| Unfunded post-retirement healthcare
Movement
Beginning of year	40
End of year	27	40
Obligations of plans	(27)	(40)
Pension schemes \| UK defined benefit plans
Movement
Beginning of year	8,425
End of year	7,941	8,425
Obligations of plans	(7,941)	(8,425)
Pension schemes \| UK defined benefit plans \| Scheme obligations
Movement
Beginning of year	8,425	7,580
Current service cost	(18)	(18)
Past service (cost)/credit	(4)	(9)
Participant contributions	(2)	(2)
Benefits paid	333	323
Interest expense on post-retirement scheme obligations	(87)	(130)
Actuarial gains/(losses)	199	(637)
Exchange and other adjustments	63	(372)
End of year	7,941	8,425
Obligations of plans	(7,941)	(8,425)
Pension schemes \| UK defined benefit plans \| Funded pension schemes
Movement
Beginning of year	8,405
End of year	7,927	8,405
Obligations of plans	(7,927)	(8,405)
Pension schemes \| UK defined benefit plans \| Unfunded post-retirement healthcare
Movement
Beginning of year	20
End of year	14	20
Obligations of plans	(14)	(20)
Pension schemes \| Rest of Group defined benefit plans
Movement
Beginning of year	1,319
End of year	1,300	1,319
Obligations of plans	(1,300)	(1,319)
Pension schemes \| Rest of Group defined benefit plans \| Scheme obligations
Movement
Beginning of year	1,319	1,080
Current service cost	(34)	(26)
Past service (cost)/credit		(24)
Participant contributions	(2)	(2)
Benefits paid	35	27
Interest expense on post-retirement scheme obligations	(8)	(10)
Actuarial gains/(losses)	9	(96)
Exchange and other adjustments	19	(108)
End of year	1,300	1,319
Obligations of plans	(1,300)	(1,319)
Pension schemes \| Rest of Group defined benefit plans \| Funded pension schemes
Movement
Beginning of year	603
End of year	1,160	603
Obligations of plans	(1,160)	(603)
Pension schemes \| Rest of Group defined benefit plans \| Unfunded pension schemes
Movement
Beginning of year	696
End of year	127	696
Obligations of plans	(127)	(696)
Pension schemes \| Rest of Group defined benefit plans \| Unfunded post-retirement healthcare
Movement
Beginning of year	20
End of year	13	20
Obligations of plans	(13)	(20)
US \| Pension schemes \| Rest of Group defined benefit plans
Movement
Beginning of year	1,601
End of year	1,404	1,601
Obligations of plans	(1,404)	(1,601)
US \| Pension schemes \| Rest of Group defined benefit plans \| Scheme obligations
Movement
Beginning of year	1,601	1,592
Current service cost	(2)	(1)
Past service (cost)/credit		64
Benefits paid	176	135
Interest expense on post-retirement scheme obligations	(28)	(40)
Actuarial gains/(losses)	46	(167)
Exchange and other adjustments	5
End of year	1,404	1,601
Obligations of plans	(1,404)	(1,601)
US \| Pension schemes \| Rest of Group defined benefit plans \| Funded pension schemes
Movement
Beginning of year	1,335
End of year	1,178	1,335
Obligations of plans	(1,178)	(1,335)
US \| Pension schemes \| Rest of Group defined benefit plans \| Funded post-retirement healthcare
Movement
Beginning of year	169
End of year	143	169
Obligations of plans	(143)	(169)
US \| Pension schemes \| Rest of Group defined benefit plans \| Unfunded pension schemes
Movement
Beginning of year	97
End of year	83	97
Obligations of plans	(83)	(97)
SWEDEN \| Pension schemes \| Rest of Group defined benefit plans
Movement
Beginning of year	2,525
End of year	2,373	2,525
Obligations of plans	(2,373)	(2,525)
SWEDEN \| Pension schemes \| Rest of Group defined benefit plans \| Scheme obligations
Movement
Beginning of year	2,525	2,160
Current service cost	(69)	(59)
Past service (cost)/credit	(1)	(2)
Benefits paid	51	47
Interest expense on post-retirement scheme obligations	(22)	(26)
Actuarial gains/(losses)	(43)	(28)
Exchange and other adjustments	236	(297)
End of year	2,373	2,525
Obligations of plans	(2,373)	(2,525)
SWEDEN \| Pension schemes \| Rest of Group defined benefit plans \| Funded pension schemes
Movement
Beginning of year	2,525
End of year	2,371	2,525
Obligations of plans	(2,371)	$ (2,525)
SWEDEN \| Pension schemes \| Rest of Group defined benefit plans \| Unfunded pension schemes
Movement
End of year	2
Obligations of plans	$ (2)

Post-retirement and other de_10

Post-retirement and other defined benefit schemes - Amounts charged to comprehensive income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Post-retirement benefits
Past service (cost)/credit	$ (5)	$ 29
Net interest on post-employment defined benefit plan liabilities	(26)	(37)	$ (53)
Other comprehensive income
Remeasurement of the defined benefit liability	626	(168)	$ (364)
Pension schemes
Post-retirement benefits
Current service cost	(124)	(104)
Past service (cost)/credit	(5)	29
Expenses	(7)	(9)
Total (charge)/credit to Operating profit	(136)	(84)
Interest income on scheme assets	119	169
Interest expense on post-retirement scheme obligations	(145)	(206)
Net interest on post-employment defined benefit plan liabilities	(26)	(37)
(Charge)/credit before taxation	(162)	(121)
Other comprehensive income
Difference between the actual return and the expected return on the post-retirement scheme assets	415	760
Experience (losses)/gains arising on the post-retirement scheme obligations	22	(17)
Changes in financial assumptions underlying the present value of the post-retirement scheme obligations	194	(892)
Changes in demographic assumptions	(5)	(19)
Remeasurement of the defined benefit liability	626	(168)
Pension schemes \| UK defined benefit plans
Post-retirement benefits
Current service cost	(18)	(18)
Past service (cost)/credit	(4)	(9)
Expenses	(7)	(6)
Total (charge)/credit to Operating profit	(29)	(33)
Interest income on scheme assets	75	111
Interest expense on post-retirement scheme obligations	(87)	(130)
Net interest on post-employment defined benefit plan liabilities	(12)	(19)
(Charge)/credit before taxation	(41)	(52)
Other comprehensive income
Difference between the actual return and the expected return on the post-retirement scheme assets	372	501
Experience (losses)/gains arising on the post-retirement scheme obligations	(43)	43
Changes in financial assumptions underlying the present value of the post-retirement scheme obligations	239	(649)
Changes in demographic assumptions	3	(31)
Remeasurement of the defined benefit liability	571	(136)
Pension schemes \| Rest of Group defined benefit plans
Post-retirement benefits
Current service cost	(35)	(26)
Past service (cost)/credit		(24)
Expenses		(1)
Total (charge)/credit to Operating profit	(35)	(51)
Interest income on scheme assets	5	5
Interest expense on post-retirement scheme obligations	(8)	(10)
Net interest on post-employment defined benefit plan liabilities	(3)	(5)
(Charge)/credit before taxation	(38)	(56)
Other comprehensive income
Difference between the actual return and the expected return on the post-retirement scheme assets	3	27
Experience (losses)/gains arising on the post-retirement scheme obligations	74	(17)
Changes in financial assumptions underlying the present value of the post-retirement scheme obligations	(61)	(79)
Changes in demographic assumptions	(4)
Remeasurement of the defined benefit liability	12	(69)
US \| Pension schemes
Other comprehensive income
Past service credit related to changes in coverage of the other healthcare plans		64
US \| Pension schemes \| Rest of Group defined benefit plans
Post-retirement benefits
Current service cost	(2)	(1)
Past service (cost)/credit		64
Expenses		(2)
Total (charge)/credit to Operating profit	(2)	61
Interest income on scheme assets	27	39
Interest expense on post-retirement scheme obligations	(28)	(40)
Net interest on post-employment defined benefit plan liabilities	(1)	(1)
(Charge)/credit before taxation	(3)	60
Other comprehensive income
Difference between the actual return and the expected return on the post-retirement scheme assets	(22)	148
Experience (losses)/gains arising on the post-retirement scheme obligations	(9)	(19)
Changes in financial assumptions underlying the present value of the post-retirement scheme obligations	59	(160)
Changes in demographic assumptions	(4)	12
Remeasurement of the defined benefit liability	24	(19)
SWEDEN \| Pension schemes \| Rest of Group defined benefit plans
Post-retirement benefits
Current service cost	(69)	(59)
Past service (cost)/credit	(1)	(2)
Total (charge)/credit to Operating profit	(70)	(61)
Interest income on scheme assets	12	14
Interest expense on post-retirement scheme obligations	(22)	(26)
Net interest on post-employment defined benefit plan liabilities	(10)	(12)
(Charge)/credit before taxation	(80)	(73)
Other comprehensive income
Difference between the actual return and the expected return on the post-retirement scheme assets	62	84
Experience (losses)/gains arising on the post-retirement scheme obligations		(24)
Changes in financial assumptions underlying the present value of the post-retirement scheme obligations	(43)	(4)
Remeasurement of the defined benefit liability	$ 19	56
DUTCH \| Pension schemes
Post-retirement benefits
Past service (cost)/credit		$ 7

Post-retirement and other de_11

Post-retirement and other defined benefit schemes - Pension cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Post-retirement benefits
Defined contribution schemes	$ 428	$ 351
Current service costs and expenses	131	113
Past service credit/(cost)	5	(29)
Pension costs	564	435	$ 491
Pension schemes
Post-retirement benefits
Past service credit/(cost)	$ 5	$ (29)

Post-retirement benefits - Effe

Post-retirement benefits - Effect of change in significant actuarial assumptions (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)plan	Dec. 31, 2020USD ($)
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	$ 841	$ 917
Effect of decrease in actuarial assumption on defined benefit pension obligation	$ (944)	$ (1,032)
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	$ (593)	$ (641)
Actuarial assumption decrease (as a percent)	0.50%	0.50%
Effect of decrease in actuarial assumption on defined benefit pension obligation	$ 571	$ 594
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	$ (90)	$ (62)
Actuarial assumption decrease (as a percent)	0.50%	0.50%
Effect of decrease in actuarial assumption on defined benefit pension obligation	$ 82	$ 70
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	$ (513)	$ (534)
Actuarial assumption decrease	1 year	1 year
Effect of decrease in actuarial assumption on defined benefit pension obligation	$ 510	$ 523
Pension schemes
Effect of a change in the significant actuarial assumptions used to determine the retirement benefits obligations
Post-employment benefit expense (credit) in profit or loss, defined benefit plans	$ 162	121
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
Effect of a change in the significant actuarial assumptions used to determine the retirement benefits obligations
Post-employment benefit expense (credit) in profit or loss, defined benefit plans	$ 41	52
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	565	610
Effect of decrease in actuarial assumption on defined benefit pension obligation	(634)	(687)
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	(386)	(396)
Effect of decrease in actuarial assumption on defined benefit pension obligation	375	378
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	(390)	(396)
Effect of decrease in actuarial assumption on defined benefit pension obligation	388	395
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	203
Effect of decrease in actuarial assumption on defined benefit pension obligation, covered by longevity swap	(203)
Pension schemes \| Rest of Group defined benefit plans
Effect of a change in the significant actuarial assumptions used to determine the retirement benefits obligations
Post-employment benefit expense (credit) in profit or loss, defined benefit plans	38	56
Pension schemes \| Rest of Group defined benefit plans \| US
Effect of a change in the significant actuarial assumptions used to determine the retirement benefits obligations
Post-employment benefit expense (credit) in profit or loss, defined benefit plans	3	(60)
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	79	93
Effect of decrease in actuarial assumption on defined benefit pension obligation	(84)	(99)
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	(29)	(32)
Effect of decrease in actuarial assumption on defined benefit pension obligation	29	32
Pension schemes \| Rest of Group defined benefit plans \| SWEDEN
Effect of a change in the significant actuarial assumptions used to determine the retirement benefits obligations
Post-employment benefit expense (credit) in profit or loss, defined benefit plans	80	73
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	197	214
Effect of decrease in actuarial assumption on defined benefit pension obligation	(226)	(246)
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	(207)	(245)
Effect of decrease in actuarial assumption on defined benefit pension obligation	196	216
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	(90)	(62)
Effect of decrease in actuarial assumption on defined benefit pension obligation	82	70
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	(94)	(106)
Effect of decrease in actuarial assumption on defined benefit pension obligation	$ 93	$ 96

Reserves (Details)

Reserves (Details) - USD ($) $ in Millions	12 Months Ended
Reserves (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of reserves within equity [line items]
Goodwill written off	$ 615	$ 636	$ 614
Retained earnings.
Disclosure of reserves within equity [line items]
Number of shares deducted from retained earnings	(3,922,122)	(556,108)	(907,239)
Amount of shares deducted from retained earnings	$ (239)	$ (51)	$ (37)

Reserves - Reconciliation (Deta

Reserves - Reconciliation (Details) € in Millions, £ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2021EUR (€)	Dec. 31, 2021GBP (£)	Dec. 31, 1999USD ($)	Dec. 31, 1993GBP (£)
Disclosure of reserves within equity [line items]
Foreign exchange arising on consolidation	$ (483)	$ 443	$ 40
Foreign exchange arising on designated borrowings in net investment hedges	(321)	573	(252)
Fair value movements on derivatives designated in net investment hedges	34	8	35
Foreign exchange arising on net investment hedges	100
Borrowings	30,781	20,380	18,227
Foreign exchange change arising on contingent consideration liabilities	(421)
Derivative financial instruments	83	142	36
Cumulative gain on cost of hedging	4	9	0
Gain on cost of hedging	6	9
Loss on cost of hedging			47
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 \| £					£ 527
Retained earnings.
Disclosure of reserves within equity [line items]
Cumulative translation differences included within retained earnings, beginning balance	(1,143)	(2,189)	(2,007)
Foreign exchange arising on consolidation	(483)	443	40
Exchange adjustments on goodwill (recorded against other reserves)	(21)	22	(5)
Foreign exchange arising on designated borrowings in net investment hedges	(321)	573	(252)
Fair value movements on derivatives designated in net investment hedges	34	8	35
Net exchange movement in retained earnings	(791)	1,046	(182)
Cumulative translation differences included within retained earnings, ending balance	(1,934)	(1,143)	$ (2,189)
Acerta Pharma
Disclosure of reserves within equity [line items]
Foreign exchange change arising on contingent consideration liabilities	(150)
BMS's share of Global Diabetes Alliance
Disclosure of reserves within equity [line items]
Foreign exchange change arising on contingent consideration liabilities	(266)
Almirall
Disclosure of reserves within equity [line items]
Foreign exchange change arising on contingent consideration liabilities	$ (5)
5.75% Non-callable bond due 2031
Disclosure of reserves within equity [line items]
Interest rate on borrowings	5.75%			5.75%	5.75%
0.875% Non-callable bond due 2021
Disclosure of reserves within equity [line items]
Borrowings \| €				€ 750
Interest rate on borrowings	0.875%			0.875%	0.875%
Instruments designated in cash flow hedge \| Cross currency swaps
Disclosure of reserves within equity [line items]
Derivative financial instruments		$ 43

Share capital of the Company (D

Share capital of the Company (Details)	12 Months Ended
Share capital of the Company (Details)	Dec. 31, 2021USD ($)$ / sharesshares	Dec. 31, 2020USD ($)shares	Dec. 31, 2019USD ($)shares	Dec. 31, 2021GBP (£)£ / sharesshares
Disclosure of classes of share capital [line items]
Par value per share \| $ / shares	$ 0.25
Issued capital \| $	$ 387,000,000	$ 328,000,000	$ 328,000,000
Number of shares in the Company held by subsidiaries	0			0
Ordinary shares
Disclosure of classes of share capital [line items]
Par value per share \| $ / shares	$ 0.25
Issued capital \| $	$ 387,000,000	$ 328,000,000	$ 328,000,000
Number of shares outstanding at beginning of period	1,312,668,724	1,312,137,976	1,267,039,436
Issue of shares (share placing)			44,386,214
Issue of share capital (business combinations)	236,321,411
Issues of shares (share schemes)	410,530	530,748	712,326
Number of shares outstanding at end of period	1,549,400,665	1,312,668,724	1,312,137,976
Shares repurchased \| $	$ 0	$ 0	$ 0
Preference shares
Disclosure of classes of share capital [line items]
Par value per share \| £ / shares				£ 1
Issued capital \| £				£ 50,000
Dividend rights \| $	$ 0
Days of written noticed required	7 days

Dividends to shareholders (Deta

Dividends to shareholders (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Dividends to shareholders
Second interim	$ 2,490	$ 2,489	$ 2,403
First interim	1,392	1,180	1,180
Total	$ 3,882	$ 3,669	$ 3,583
Unclaimed dividends, forfeiture period	12 years
Final	$ 1.90	$ 1.90	$ 1.90
Interim	0.90	0.90	0.90
Total	$ 2.80	$ 2.80	$ 2.80
Unclaimed dividends forfeited and adjusted for in retained earnings	$ 0	$ 1	$ 4

Dividends to shareholders - Div

Dividends to shareholders - Dividends Paid (Details) - USD ($) $ / shares in Units, $ in Millions	Sep. 13, 2021	Mar. 29, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Dividends to shareholders
Dividends paid (per share)	$ 0.90	$ 1.90
Dividends charged to equity			$ 3,882	$ 3,669	$ 3,583
Exchange losses on payment of dividend			3	4	5
Hedge contracts relating to payment of dividends			(29)	(101)	4
Dividends paid (cash flow statement)			$ 3,856	$ 3,572	$ 3,592

Non-controlling interests (Deta

Non-controlling interests (Details) - USD ($) $ in Millions		Dec. 31, 2021	Oct. 05, 2021	Apr. 30, 2021	Feb. 29, 2016	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2018
Disclosure of subsidiaries [line items]
Equity attributable to non-controlling interests		$ 19				$ 19	$ 16	$ 1,469	$ 19
Equity		39,287				39,287	15,638	14,596	39,287	$ 14,044
Total comprehensive losses						(3)	52	107
Results attributable to non-controlling interests						3	(52)	(108)
Total Revenue						37,417	26,617	24,384
(Loss)/profit after tax						115	3,144	1,227
Other comprehensive income	[1]					(145)	1,608	(611)
Total comprehensive (loss)/income for the period						(30)	4,752	616
Non-current assets		79,119				79,119	47,185	45,814	79,119
Current assets		26,244				26,244	19,544	15,563	26,244
Total assets		105,363				105,363	66,729	61,377	105,363
Current liabilities		(22,594)				(22,594)	(20,307)	(18,117)	(22,594)
Non-current liabilities		(43,482)				(43,482)	(30,784)	(28,664)	(43,482)
Total liabilities		66,076				66,076	51,091	46,781	66,076
Net assets		$ 39,287				39,287	15,638	14,596	39,287
Net cash outflow from operating activities						5,963	4,799	2,969
Net cash inflow from investing activities						(11,058)	(285)	(657)
Net cash inflow/(outflow) from financing activities						3,649	(2,203)	(1,765)
Acerta Pharma
Disclosure of subsidiaries [line items]
(Loss)/profit after tax								(422)
Total comprehensive (loss)/income for the period								(422)
Acerta Pharma
Disclosure of subsidiaries [line items]
Percentage of equity owned in subsidiaries		100.00%		45.00%	55.00%
Non-controlling interest reclassified into Retained earnings							1,401
Equity		$ 0				0	0	1,456	0
Total comprehensive losses						0	55	111
Results attributable to non-controlling interests									0
Non-current assets								157
Current assets								475
Total assets								632
Current liabilities								(310)
Non-current liabilities								(267)
Total liabilities								577
Net assets								55
Net cash outflow from operating activities								(13)
Net cash inflow from investing activities								7
Net cash inflow/(outflow) from financing activities								7
Increase in cash and cash equivalents in the year								1
Caelum Biosciences
Disclosure of subsidiaries [line items]
Percentage of equity owned in subsidiaries		100.00%
Caelum Biosciences \| Alexion Pharmaceuticals, Inc.
Disclosure of subsidiaries [line items]
Non-controlling interest reclassified into Retained earnings			$ 150
AstraZeneca Pharma India Limited, P.T. AstraZeneca Indonesia and Beijing Falikang Pharmaceutical (China) Co. Limited
Disclosure of subsidiaries [line items]
Equity attributable to non-controlling interests		$ 19				19	16	13	$ 19
Total comprehensive losses						$ (3)	$ (3)	$ (4)

[1]	Included within Other comprehensive loss of $145 m (2020: income of $1,608 m; 2019: loss of $611 m) is a charge of $6 m (2020: gain of $9 m; 2019: charge of $47 m), relating to Costs of hedging.

Acquisition of business opera_3

Acquisition of business operations (Details) - USD ($) $ / shares in Units, $ in Millions	Jul. 21, 2021	Oct. 31, 2021	Jul. 31, 2021	Jun. 30, 2021	May 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about business combination [line items]
Undrawn borrowing facilities						$ 4,900
Repayments of acquired loans and borrowings						$ 4,759	$ 1,609	$ 1,500
Alexion Pharmaceuticals, Inc.
Disclosure of detailed information about business combination [line items]
Percentage of issued shares acquired	100.00%
Number of ADSs transferred per acquired share	2.1243
Cash transferred per share	$ 60
Total fair value of consideration	$ 41,058
Fair value of issued ADSs	27,196
Cash transferred	13,349
Fair value of replacement employee share awards	513
Intangible assets	26,955
Fair value of inventory recognised in business combination	$ 6,769
Amortisation period for fair value adjustments on inventories	18 months
Contingent liabilities recognised in business combination	$ 76
Other non-current liabilities recognised in business combination	697
Alexion Pharmaceuticals, Inc. \| Inventory
Disclosure of detailed information about business combination [line items]
Fair value uplift to previous carrying value	5,635
Alexion Pharmaceuticals, Inc. \| Property, plant and equipment
Disclosure of detailed information about business combination [line items]
Fair value uplift to previous carrying value	111
Alexion Pharmaceuticals, Inc. \| Products under development
Disclosure of detailed information about business combination [line items]
Intangible assets	2,760
Alexion Pharmaceuticals, Inc. \| Launched products
Disclosure of detailed information about business combination [line items]
Intangible assets	$ 23,695
Alexion Pharmaceuticals, Inc. \| Bank facilities committed to Alexion acquisition
Disclosure of detailed information about business combination [line items]
Proceeds from borrowings			$ 4,000
Undrawn borrowing facilities							$ 17,500
Cancellation of facilities		$ 13,500	13,500	$ 13,500
Alexion Pharmaceuticals, Inc. \| Long-term debt
Disclosure of detailed information about business combination [line items]
Proceeds from borrowings				$ 8,000	$ 8,000
Alexion Pharmaceuticals, Inc. \| Loans and borrowings assumed in Alexion acquisition
Disclosure of detailed information about business combination [line items]
Repayments of acquired loans and borrowings			$ 2,300

Acquisition of business opera_4

Acquisition of business operations - Fair values assigned at date of acquisition (Details) - Alexion Pharmaceuticals, Inc. $ in Millions	Jul. 21, 2021USD ($)
Non-current assets
Property, plant and equipment	$ 1,135
Right-of-use assets	263
Intangible assets	26,855
Other non-current assets	301
Total non-current assets	28,554
Current assets
Inventories	6,769
Trade and other receivables	2,096
Intangible assets	100
Cash and cash equivalents	4,086
Total current assets	13,051
Current liabilities
Interest-bearing loans and borrowings	(2,336)
Trade and other payables	(1,192)
Other current liabilities	(40)
Total current liabilities	(3,568)
Non-current liabilities
Lease liabilities	(228)
Deferred tax liabilities	(4,191)
Other non-current liabilities	(697)
Total non-current liabilities	(5,116)
Total net assets acquired	32,921
Less: non-controlling interests	(150)
Goodwill	8,287
Total fair value of consideration	41,058
Less: fair value of equity consideration	(27,196)
Less: fair value of replacement employee share awards	(513)
Less: cash and cash equivalents acquired	(4,086)
Net cash outflow	$ 9,263

Acquisition of business opera_5

Acquisition of business operations - Acquired intangible assets (Details) - Alexion Pharmaceuticals, Inc. $ in Millions	Jul. 21, 2021USD ($)
Disclosure of detailed information about business combination [line items]
Identifiable intangible assets recognised as of acquisition date	$ 26,955
Launched products
Disclosure of detailed information about business combination [line items]
Identifiable intangible assets recognised as of acquisition date	23,695
C5 franchise (Soliris/Ultomiris)
Disclosure of detailed information about business combination [line items]
Identifiable intangible assets recognised as of acquisition date	$ 18,480
C5 franchise (Soliris/Ultomiris) \| Minimum
Disclosure of detailed information about business combination [line items]
Useful life measured as period of time, intangible assets other than goodwill	6 years
C5 franchise (Soliris/Ultomiris) \| Maximum
Disclosure of detailed information about business combination [line items]
Useful life measured as period of time, intangible assets other than goodwill	15 years
Strensiq, Kanuma and Andexxa
Disclosure of detailed information about business combination [line items]
Identifiable intangible assets recognised as of acquisition date	$ 5,215
Strensiq, Kanuma and Andexxa \| Minimum
Disclosure of detailed information about business combination [line items]
Useful life measured as period of time, intangible assets other than goodwill	11 years
Strensiq, Kanuma and Andexxa \| Maximum
Disclosure of detailed information about business combination [line items]
Useful life measured as period of time, intangible assets other than goodwill	17 years
Products in development
Disclosure of detailed information about business combination [line items]
Identifiable intangible assets recognised as of acquisition date	$ 2,760
Other intangibles
Disclosure of detailed information about business combination [line items]
Identifiable intangible assets recognised as of acquisition date	$ 500
Other intangibles \| Minimum
Disclosure of detailed information about business combination [line items]
Useful life measured as period of time, intangible assets other than goodwill	5 years
Other intangibles \| Maximum
Disclosure of detailed information about business combination [line items]
Useful life measured as period of time, intangible assets other than goodwill	10 years

Acquisition of business opera_6

Acquisition of business operations - Additional disclosures (Details) - USD ($) $ in Millions	Jul. 21, 2021	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Jul. 31, 2021
Disclosure of detailed information about business combination [line items]
Retention/transaction bonus plan expense in period since acquisition			$ 10,275	$ 8,247	$ 7,568
Alexion Pharmaceuticals, Inc.
Disclosure of detailed information about business combination [line items]
Intangible assets	$ 26,955
Fair value of inventory recognised in business combination	$ 6,769
Amortisation period for fair value adjustments on inventories	18 months
Fair value of property, plant and equipment recognised in business combination	$ 1,135
Contingent liabilities recognised in business combination	76
Other non-current liabilities recognised in business combination	697
Fair value of trade and other receivables recognised in business combination	2,096
Goodwill recognised on acquisition	8,287
Non-controlling interests recognised in business combination	150
Alexion's total revenues since acquisition		$ 3,071
Alexion's profit after tax since acquisition		889
Revenue of combined Group since beginning of period			41,132
Loss after tax of combined Group since beginning of period			(1,152)
Alexion Pharmaceuticals, Inc. \| Products under development
Disclosure of detailed information about business combination [line items]
Intangible assets	2,760
Alexion Pharmaceuticals, Inc. \| Launched products
Disclosure of detailed information about business combination [line items]
Intangible assets	23,695
Alexion Pharmaceuticals, Inc. \| Retention/transaction bonus plan for legacy Alexion employees
Disclosure of detailed information about business combination [line items]
Potential bonus amount		50	$ 50
Alexion Pharmaceuticals, Inc. \| Legacy Alexion employees retention bonus
Disclosure of detailed information about business combination [line items]
Bonus vesting period			6 months
Retention/transaction bonus plan expense in period since acquisition		24
Alexion Pharmaceuticals, Inc. \| Alexion Performance Stock Plan (PSU)
Disclosure of detailed information about business combination [line items]
Expense from Alexion Performance Stock Plan awards in period since acquisition		257
Alexion Pharmaceuticals, Inc. \| Maximum \| Alexion Performance Stock Plan (PSU), awards granted 2019
Disclosure of detailed information about business combination [line items]
Maximum limit for conversion of Alexion Performance Stock Plan awards					175.00%
Alexion Pharmaceuticals, Inc. \| Maximum \| Alexion Performance Stock Plan (PSU), awards granted 2020
Disclosure of detailed information about business combination [line items]
Maximum limit for conversion of Alexion Performance Stock Plan awards				150.00%
Alexion Pharmaceuticals, Inc. \| Selling, general and administrative costs
Disclosure of detailed information about business combination [line items]
Total acquisition-related costs			$ 171
Alexion Pharmaceuticals, Inc. \| Selling, general and administrative costs \| Legacy Alexion employees retention bonus
Disclosure of detailed information about business combination [line items]
Retention/transaction bonus plan expense in period since acquisition		13
Alexion Pharmaceuticals, Inc. \| Selling, general and administrative costs \| Alexion Performance Stock Plan (PSU)
Disclosure of detailed information about business combination [line items]
Expense from Alexion Performance Stock Plan awards in period since acquisition		175
Alexion Pharmaceuticals, Inc. \| Cost of sales \| Legacy Alexion employees retention bonus
Disclosure of detailed information about business combination [line items]
Retention/transaction bonus plan expense in period since acquisition		2
Alexion Pharmaceuticals, Inc. \| Cost of sales \| Alexion Performance Stock Plan (PSU)
Disclosure of detailed information about business combination [line items]
Expense from Alexion Performance Stock Plan awards in period since acquisition		9
Alexion Pharmaceuticals, Inc. \| Research and development expense \| Legacy Alexion employees retention bonus
Disclosure of detailed information about business combination [line items]
Retention/transaction bonus plan expense in period since acquisition		9
Alexion Pharmaceuticals, Inc. \| Research and development expense \| Alexion Performance Stock Plan (PSU)
Disclosure of detailed information about business combination [line items]
Expense from Alexion Performance Stock Plan awards in period since acquisition		$ 73
Alexion Pharmaceuticals, Inc. \| Caelum Biosciences
Disclosure of detailed information about business combination [line items]
Non-controlling interests recognised in business combination	150					$ 150
Alexion Pharmaceuticals, Inc. \| Fair value uplifts from business combinations
Disclosure of detailed information about business combination [line items]
Deferred tax liabilities recognised in business combination	5,215
Alexion Pharmaceuticals, Inc. \| Inventory
Disclosure of detailed information about business combination [line items]
Fair value uplift to previous carrying value	5,635
Alexion Pharmaceuticals, Inc. \| Property, plant and equipment
Disclosure of detailed information about business combination [line items]
Fair value uplift to previous carrying value	$ 111

Financial risk management obj_3

Financial risk management objectives and policies - Hedge accounting (Details) € in Millions, ¥ in Millions, ¥ in Millions, £ in Millions, kr in Millions, $ in Millions	Nov. 24, 2021EUR (€)	Jun. 03, 2021EUR (€)	Sep. 30, 2019USD ($)JPY (¥)	Dec. 31, 2021EUR (€)	Dec. 31, 2021USD ($)¥ / $¥ / $€ / $	Dec. 31, 2020USD ($)GBP (£)CNY (¥)€ / $EUR (€)¥ / $¥ / $JPY (¥)	Dec. 31, 2019USD ($)€ / $EUR (€)CNY (¥)¥ / $JPY (¥)GBP (£)¥ / $	Dec. 31, 2021EUR (€)	Dec. 31, 2021	Dec. 31, 2021€ / $	Dec. 31, 2021JPY (¥)	Dec. 31, 2021¥ / $	Dec. 31, 2021CNY (¥)	Dec. 31, 2021¥ / $	Dec. 31, 2021GBP (£)	Dec. 31, 2021SEK (kr)	Dec. 31, 2021kr / $	Dec. 31, 2021£ / $	Nov. 30, 2021EUR (€)
Disclosure of detailed information about hedges
Borrowings					$ 30,781	$ 20,380	$ 18,227
Hedging instrument
Total carrying value					30,781	20,380	18,227
Hedged item
Net cash inflow					96	745	194
JPY Investment, 58.5bn notional amount
Hedging instrument
Nominal amounts in local currency \| ¥			58,500
Net cash inflow from maturity of instrument			$ 209
EUR Investment, 450m notional amount
Hedging instrument
Nominal amounts in local currency \| €																			450
EUR Investment, 800m notional amount
Hedging instrument
Interest rate on borrowings		0.375%
Hedged item
Notional amount \| €		€ 800
Instruments in a fair value hedge relationship
Hedging instrument
Total carrying value						371	339
Hedged item
Hedge ineffectiveness for the period						1
Instruments designated in cash flow hedge
Hedging instrument
Total carrying value					1,910	$ 2,689	$ 2,447
Investments in foreign operations
Hedging instrument
Nominal amounts in local currency \| £							350
Investments in foreign operations \| EUR Investment, 800m notional amount
Hedged item
Notional amount designated in a hedge relationship \| €		€ 550		€ 250
Bond, amount maturing \| €	€ 450
Investments in foreign operations \| Group's GBP denominated net assets
Hedging instrument
Nominal amounts in local currency \| £						350									350
Total carrying value					470
Total carrying value						$ 475	$ 457
Opening balance					233	251	265
Fair value (gain)/loss deferred to OCI					(5)	18	14
Closing balance					238	$ 233	$ 251
Interest rate on borrowings						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
Total carrying value						$ 548	$ 498
Opening balance					(85)	(34)	(44)
Fair value (gain)/loss deferred to OCI						51	(10)
Closing balance						$ (85)	$ (34)
Interest rate on borrowings						0.88%	0.88%
Investments in foreign operations \| Group's EUR denominated net assets \| EUR Investment, 450m notional amount
Hedging instrument
Nominal amounts in local currency \| €								450
Opening balance					(85)
Fair value (gain)/loss deferred to OCI					(47)
Closing balance					(38)	$ (85)
Interest rate on borrowings									0.88%
Investments in foreign operations \| Group's EUR denominated net assets \| EUR Investment, 800m notional amount
Hedging instrument
Nominal amounts in local currency \| €								800
Total carrying value					898
Fair value (gain)/loss deferred to OCI					(50)
Closing balance					50
Interest rate on borrowings									0.38%
Investments in foreign operations \| Transactions Matured pre 2018
Hedging instrument
Opening balance						356	$ 356
Closing balance							$ 356
Investments in foreign operations \| Transactions Matured Pre 2020
Hedging instrument
Opening balance					565
Closing balance					$ 565	$ 565
Contingent consideration \| Investments in foreign operations
Hedging instrument
Nominal amounts in local currency					2,658	5,252	5,583
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
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%
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	1,700
Total carrying value					$ 43
Opening balance					(46)
Fair value (gain)/loss deferred to OCI					182
Fair value (gain)/loss recycled to the income statement					(201)
Closing balance					$ (27)	$ (46)
Average USD FX rate \| € / $					1.14
Interest rate on borrowings						2.69%	2.69%		2.85%
Cross currency swaps \| Instruments in a fair value hedge relationship \| Group's EUR denominated net assets
Hedging instrument
Total carrying value						$ 43	$ 10
Average USD FX rate \| € / $						1.09	1.09
Cross currency swaps \| Instruments designated in cash flow hedge \| Group's EUR denominated net assets
Hedging instrument
Total carrying value						$ 150
Total carrying value							$ 13
Opening balance					$ (46)	30	92
Fair value (gain)/loss deferred to OCI						(163)	114
Fair value (gain)/loss recycled to the income statement						239	(52)
Closing balance						$ (46)	$ 30
Average USD FX rate \| € / $						1.14	1.14
Cross currency swaps \| Investments in foreign operations
Hedging instrument
Nominal amounts in local currency					1,220			123			19,289		666		278	3,929
Opening balance					$ 565	$ 565
Closing balance						565	$ 565
Exchange rate										1.1306		115.1550		6.373			9.0742	1.3506
Cross currency swaps \| Investments in foreign operations \| Group's JPY denominated net assets \| JPY Investment, 58.3m notional amount
Hedging instrument
Nominal amounts in local currency \| ¥							58,300				58,300
Total carrying value					62		$ 4
Opening balance					19	4
Fair value (gain)/loss deferred to OCI					(43)
Closing balance					$ 62	$ 19	$ 4
Average USD FX rate \| ¥ / $					108.03
Interest rate on borrowings									1.53%
Cross currency swaps \| Investments in foreign operations \| Group's JPY denominated net assets \| JPY Investment, 58.5bn notional amount
Hedging instrument
Nominal amounts in local currency \| ¥						58,500	58,500
Total carrying value						$ 19
Opening balance					$ 19	4	$ 213
Fair value (gain)/loss deferred to OCI						(15)	4
Closing balance						$ 19	$ 4
Average USD FX rate \| ¥ / $						108.03	78.01
Interest rate on borrowings						1.53%	0.35%
Cross currency swaps \| Investments in foreign operations \| Group's JPY denominated net assets \| JPY Investment, 58.5bn notional amount \| Matured 2019
Hedging instrument
Opening balance						$ 209
Closing balance							$ 209
Cross currency swaps \| Investments in foreign operations \| Group's CNY denominated net assets
Hedging instrument
Nominal amounts in local currency \| ¥						458	458						458
Total carrying value					2	$ 2	$ 1
Opening balance					(2)	(1)	(4)
Fair value (gain)/loss deferred to OCI						1	(3)
Closing balance					$ (2)	$ (2)	$ (1)
Average USD FX rate \| ¥ / $					6.68	6.68	6.68
Interest rate on borrowings						4.80%	4.80%		4.80%
Cross currency swaps \| Investments in foreign operations \| Group's CNY denominated net assets \| JPY Investment, 58.3m notional amount
Hedging instrument
Fair value (gain)/loss deferred to OCI							$ (4)
Average USD FX rate \| ¥ / $							108.03
Interest rate on borrowings							1.53%
Forward contract
Hedging instrument
Nominal amounts in local currency					1,220	618
Total carrying value						$ 5
Opening balance					$ 5
Fair value (gain)/loss deferred to OCI						(20)
Fair value (gain)/loss recycled to the income statement						15
Closing balance						5
Forward contract \| Investments in foreign operations
Hedging instrument
Total carrying value					12
Opening balance					5
Fair value (gain)/loss recycled to the income statement					(7)
Closing balance					12	5
Put option \| Contingent consideration \| Investments in foreign operations
Hedging instrument
Total carrying value					2,658	5,252	$ 5,583
Opening balance					(1,411)	(2,053)	(1,805)
Fair value (gain)/loss deferred to OCI					421	(642)	248
Closing balance					$ (1,832)	$ (1,411)	$ (2,053)

Financial risk management obj_4

Financial risk management objectives and policies - Capital management (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of financial risk management objectives and policies
Net debt position	$ 24,322	$ 12,110
Proceeds from borrowings	12,929	2,968	$ 500
Repayment of loans	$ 4,759	$ 1,609	$ 1,500

Financial risk management obj_5

Financial risk management objectives and policies - Liquidity risk (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Maturity analysis of financial liabilities
Cash and cash equivalents	$ 6,329	$ 7,832	$ 5,369
Short-term fixed income investments	16
Fixed deposits	53	42	38
Overdrafts	291	286	146
Committed bank facilities	4,875
Undrawn committed bank facilities	4,900
Financial instruments	66,119	52,254
Derivative financial instruments	79	33	36
Derivative financial instruments	83	142	36
Effect of interest	(8,635)	(8,000)	(8,118)
Effect of discounting, fair values and issue costs	(2,893)	(2,283)	(1,852)
Financial instruments after effects of interest and discounting, fair values and issue costs	54,591	41,971	38,495
Issue of Ordinary Shares	27,214	30	3,525
Contingent consideration	2,865	3,323	4,139	$ 5,106
Borrowings	30,781	20,380	18,227
Amount before effects
Maturity analysis of financial liabilities
Financial instruments			48,465
Total derivative financial instruments
Maturity analysis of financial liabilities
Derivative financial instruments	(6)	(206)
Effect of interest	(26)	(26)	(79)
Effect of discounting, fair values and issue costs	(29)	(46)	(74)
Financial instruments after effects of interest and discounting, fair values and issue costs	(61)	(278)	(43)
Total derivative financial instruments \| Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments			110
Interest rate swaps
Maturity analysis of financial liabilities
Derivative financial instruments	(14,555)	(12,732)
Effect of interest	299	379	409
Effect of discounting, fair values and issue costs	(36)	(70)	(20)
Financial instruments after effects of interest and discounting, fair values and issue costs	(14,292)	(12,423)	(15,329)
Interest rate swaps \| Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments			(15,718)
Cross currency swaps
Maturity analysis of financial liabilities
Derivative financial instruments	14,549	12,526
Effect of interest	(325)	(405)	(488)
Effect of discounting, fair values and issue costs	7	24	(54)
Financial instruments after effects of interest and discounting, fair values and issue costs	14,231	12,145	15,286
Cross currency swaps \| Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments			15,828
Total non-derivative financial instruments
Maturity analysis of financial liabilities
Non-derivative financial instruments	66,125	52,460
Effect of interest	(8,609)	(7,974)	(8,039)
Effect of discounting, fair values and issue costs	(2,864)	(2,237)	(1,778)
Financial instruments after effects of interest and discounting, fair values and issue costs	54,652	42,249	38,538
Total non-derivative financial instruments \| Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments			48,355
Bank overdrafts and other loans
Maturity analysis of financial liabilities
Non-derivative financial instruments	387	667
Effect of interest			(1)
Effect of discounting, fair values and issue costs		(1)	(3)
Financial instruments after effects of interest and discounting, fair values and issue costs	387	666	244
Bank overdrafts and other loans \| Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments			248
Bonds
Maturity analysis of financial liabilities
Non-derivative financial instruments	38,158	27,116
Effect of interest	(8,609)	(7,974)	(8,038)
Effect of discounting, fair values and issue costs	(142)	(109)	(94)
Financial instruments after effects of interest and discounting, fair values and issue costs	29,407	19,033	17,308
Bonds \| Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments			25,440
Lease liabilities
Maturity analysis of financial liabilities
Non-derivative financial instruments	1,076	738
Effect of discounting, fair values and issue costs	(89)	(57)	(62)
Financial instruments after effects of interest and discounting, fair values and issue costs	987	681	675
Lease liabilities \| Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments			737
Trade and other payables
Maturity analysis of financial liabilities
Non-derivative financial instruments	26,504	23,939
Effect of discounting, fair values and issue costs	(2,633)	(2,070)	(1,619)
Financial instruments after effects of interest and discounting, fair values and issue costs	23,871	21,869	20,311
Trade and other payables \| Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments			21,930
Due within one year
Maturity analysis of financial liabilities
Borrowings	1,900
Due within one year \| Amount before effects
Maturity analysis of financial liabilities
Financial instruments	21,639	18,723	16,729
Due within one year \| Total derivative financial instruments \| Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments	8	(99)	29
Due within one year \| Interest rate swaps \| Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments	(11,766)	(9,719)	(11,956)
Due within one year \| Cross currency swaps \| Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments	11,774	9,620	11,985
Due within one year \| Total non-derivative financial instruments \| Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments	21,631	18,822	16,700
Due within one year \| Bank overdrafts and other loans \| Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments	387	667	234
Due within one year \| Bonds \| Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments	1,981	2,136	2,207
Due within one year \| Lease liabilities \| Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments	256	207	205
Due within one year \| Trade and other payables \| Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments	19,007	15,812	14,054
Years 1 and 2 \| Amount before effects
Maturity analysis of financial liabilities
Financial instruments	8,389	4,598	3,932
Years 1 and 2 \| Total derivative financial instruments \| Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments	11	7	21
Years 1 and 2 \| Interest rate swaps \| Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments	(55)	(60)	(955)
Years 1 and 2 \| Cross currency swaps \| Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments	66	67	976
Years 1 and 2 \| Total non-derivative financial instruments \| Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments	8,378	4,591	3,911
Years 1 and 2 \| Bank overdrafts and other loans \| Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments			14
Years 1 and 2 \| Bonds \| Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments	5,647	1,839	1,970
Years 1 and 2 \| Lease liabilities \| Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments	210	168	158
Years 1 and 2 \| Trade and other payables \| Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments	2,521	2,584	1,769
Years 2 and 3 \| Amount before effects
Maturity analysis of financial liabilities
Financial instruments	7,093	3,887	3,751
Years 2 and 3 \| Total derivative financial instruments \| Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments	19	8	13
Years 2 and 3 \| Interest rate swaps \| Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments	(1,060)	(59)	(54)
Years 2 and 3 \| Cross currency swaps \| Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments	1,079	67	67
Years 2 and 3 \| Total non-derivative financial instruments \| Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments	7,074	3,879	3,738
Years 2 and 3 \| Bonds \| Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments	5,242	2,101	1,810
Years 2 and 3 \| Lease liabilities \| Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments	163	120	117
Years 2 and 3 \| Trade and other payables \| Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments	1,669	1,658	1,811
Years 3 and 4 \| Amount before effects
Maturity analysis of financial liabilities
Financial instruments	3,587	3,356	3,752
Years 3 and 4 \| Total derivative financial instruments \| Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments	4	(71)	13
Years 3 and 4 \| Interest rate swaps \| Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments	(35)	(1,151)	(54)
Years 3 and 4 \| Cross currency swaps \| Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments	39	1,080	67
Years 3 and 4 \| Total non-derivative financial instruments \| Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments	3,583	3,427	3,739
Years 3 and 4 \| Bonds \| Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments	2,591	1,617	2,068
Years 3 and 4 \| Lease liabilities \| Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments	130	82	79
Years 3 and 4 \| Trade and other payables \| Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments	862	1,728	1,592
Years 4 and 5 \| Amount before effects
Maturity analysis of financial liabilities
Financial instruments	3,292	3,281	3,209
Years 4 and 5 \| Total derivative financial instruments \| Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments	(7)	4	28
Years 4 and 5 \| Interest rate swaps \| Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments	(118)	(36)	(1,051)
Years 4 and 5 \| Cross currency swaps \| Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments	111	40	1,079
Years 4 and 5 \| Total non-derivative financial instruments \| Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments	3,299	3,277	3,181
Years 4 and 5 \| Bonds \| Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments	2,970	2,502	1,479
Years 4 and 5 \| Lease liabilities \| Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments	96	53	50
Years 4 and 5 \| Trade and other payables \| Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments	233	722	1,652
Later than five years \| Amount before effects
Maturity analysis of financial liabilities
Financial instruments	22,119	18,409	17,092
Later than five years \| Total derivative financial instruments \| Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments	(41)	(55)	6
Later than five years \| Interest rate swaps \| Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments	(1,521)	(1,707)	(1,648)
Later than five years \| Cross currency swaps \| Amount before effects
Maturity analysis of financial liabilities
Derivative financial instruments	1,480	1,652	1,654
Later than five years \| Total non-derivative financial instruments \| Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments	22,160	18,464	17,086
Later than five years \| Bonds \| Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments	19,727	16,921	15,906
Later than five years \| Lease liabilities \| Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments	221	108	128
Later than five years \| Trade and other payables \| Amount before effects
Maturity analysis of financial liabilities
Non-derivative financial instruments	2,212	$ 1,435	$ 1,052
Maturing July 2023 \| Bank overdrafts and other loans
Maturity analysis of financial liabilities
Borrowings	2,000
Maturing July 2024 \| Bank overdrafts and other loans
Maturity analysis of financial liabilities
Borrowings	2,000
Euro medium term note programme
Maturity analysis of financial liabilities
Debt instruments issued	3,278
SEC registered programme
Maturity analysis of financial liabilities
Debt instruments issued	$ 21,908

Financial risk management obj_6

Financial risk management objectives and policies - Market risk (Details) $ in Millions	Dec. 31, 2021USD ($)contract	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Disclosure of financial instruments by interest rate
Borrowings	$ 30,781	$ 20,380	$ 18,227
Total financial liabilities	30,781	20,380	18,227
Cash and cash equivalents	6,329	7,832	5,369
Fixed deposits	53	42	38
Instruments in a fair value hedge relationship
Disclosure of financial instruments by interest rate
Total financial liabilities		371	339
7% Guaranteed debentures
Disclosure of financial instruments by interest rate
Borrowings	$ 288
Interest rate on borrowings	7.00%
Interest rate swaps
Disclosure of financial instruments by interest rate
Current financial liabilities	$ 1,893	2,386	2,010
Number of contracts \| contract	0
Non-current financial liabilities	$ 28,888	17,994	16,217
Total financial liabilities	30,781	20,380	18,227
Cash and cash equivalents	6,329	7,832	5,369
Fixed deposits	53	42	38
Total financial assets	6,382	7,874	5,407
Current and non-current asset investments and other financial assets.	8,765	6,328	6,765
Interest rate swaps \| Fixed rate
Disclosure of financial instruments by interest rate
Current financial liabilities	1,232	1,357	1,785
Non-current financial liabilities	23,985	17,005	14,893
Total financial liabilities	25,217	18,362	16,678
Fixed deposits	53	42	38
Total financial assets	53	42	38
Interest rate swaps \| Floating rate
Disclosure of financial instruments by interest rate
Current financial liabilities	661	1,029	225
Non-current financial liabilities	4,903	989	1,324
Total financial liabilities	5,564	2,018	1,549
Cash and cash equivalents	6,329	7,832	5,369
Total financial assets	6,329	7,832	5,369
Current and non-current asset investments and other financial assets on which interest is received	$ 0	$ 0	$ 111

Financial risk management obj_7

Financial risk management objectives and policies - Market risk on equity securities (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of financial risk management objectives and policies
Equity securities at fair value through Other comprehensive income	$ 1,168	$ 1,108	$ 1,339
Total	$ 1,168	$ 1,108	$ 1,339

Financial risk management obj_8

Financial risk management objectives and policies - Foreign currency risk (Details) € in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)country	Dec. 31, 2021EUR (€)country	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Foreign currency risk
Number of hyper inflationary countries \| country	2	2
Borrowings	$ 30,781		$ 20,380	$ 18,227
Cash	1,461		1,182	755
Increase in interest expense that would result from increased interest rate, per sensitivity analysis	$ 54
Increase/(decrease) in fair value of financial instruments ($m) due to increase in risk component				(4)
Impact on profit: (loss)/gain ($m) due to increase in risk component				(174)
Impact on equity: gain/(loss) ($m) due to increase in risk component				170
0.875% Non-callable bond due 2021
Foreign currency risk
Borrowings \| €		€ 750
Borrowings, interest rate	0.875%	0.875%
US
Foreign currency risk
Assumed strengthening of US currency	10.00%	10.00%
Assumed weakening of US currency	10.00%	10.00%
Assumed percentage increase	10.00%	10.00%
Assumed percentage decrease	10.00%	10.00%
All currencies except US
Foreign currency risk
Percentage of entity's revenue	68.00%
Pound sterling
Foreign currency risk
Percentage of interest-bearing loans and borrowings	2.00%	2.00%
Euro
Foreign currency risk
Percentage of interest-bearing loans and borrowings	9.00%	9.00%
Interest rates
Foreign currency risk
Changes in rates	1.00%	1.00%
Assumed percentage increase	1.00%	1.00%
Increase/(decrease) in fair value of financial instruments ($m) due to increase in risk component	$ 1,978		1,696	1,417
Increase/(decrease) in fair value of financial instruments ($m) due to decrease in risk component	$ (2,106)		(1,758)	(1,521)
Exchange rates
Foreign currency risk
Changes in rates	10.00%	10.00%
Assumed percentage increase	10.00%	10.00%
Increase/(decrease) in fair value of financial instruments ($m) due to increase in risk component	$ 82		114
Increase/(decrease) in fair value of financial instruments ($m) due to decrease in risk component	(85)		(132)	(36)
Impact on profit: (loss)/gain ($m) due to increase in risk component	24		(57)
Impact on profit: (loss)/gain ($m) due to decrease in risk component	(9)		74	172
Impact on equity: gain/(loss) ($m) due to increase in risk component	58		171
Impact on equity: gain/(loss) ($m) due to decrease in risk component	$ (76)		$ (206)	$ (208)

Financial risk management obj_9

Financial risk management objectives and policies - Credit risk (Details) $ in Millions	12 Months Ended			36 Months Ended
	Dec. 31, 2021USD ($)itemcustomer	Dec. 31, 2020USD ($)itemcustomer	Dec. 31, 2019USD ($)customeritem	Dec. 31, 2021USD ($)item
Ageing of trade receivables
Loss allowance	$ 23	$ 23	$ 21	$ 23
Movements in provisions for trade receivables
At 1 January	23	21	38	38
Income statement	(2)	3	(13)
Amounts utilised, exchange and other movements	2	(1)	(4)
At 31 December	$ 23	$ 23	$ 21	$ 23
Credit risk
Number of significant wholesalers \| customer	1	1	1
Number of fund managers for money market securities \| item	4			4
Maximum percentage the Company's investments represent of each overall fund value	10.00%			10.00%
Cash deposited in repurchase agreements	$ 0	$ 0	$ 401	$ 0
Number of fund managers for fixed income securities \| item	5			5
Current assets
Cash at bank and in hand	$ 1,461	1,182	755	$ 1,461
Other short-term equivalents	4,868	6,650	4,614	4,868
Cash and cash equivalents	6,329	7,832	5,369	6,329
Fixed deposits	53	42	38	53
Total current assets	26,244	19,544	15,563	26,244
Non-current assets
Derivative financial instruments	102	171	61	102
Total non-current assets	$ 79,119	$ 47,185	$ 45,814	$ 79,119
US
Credit risk
Number of significant wholesalers \| item	3	3	3
Percentage of sales	94.00%	95.00%	94.00%
Provisions for trade receivables \| Trade receivables
Ageing of trade receivables
Payment profile period (in months)				36 months
Financial assets	$ 6,054	$ 3,829	$ 3,606	$ 6,054
Loss allowance	23	23	21	23
Movements in provisions for trade receivables
At 1 January	23	21
At 31 December	$ 23	$ 23	$ 21	$ 23
Provisions for trade receivables \| Trade receivables \| Not past due
Ageing of trade receivables
Expected loss rate	0.10%	0.10%	0.10%	0.10%
Financial assets	$ 5,617	$ 3,659	$ 3,178	$ 5,617
Loss allowance	5	2	2	5
Movements in provisions for trade receivables
At 1 January	2	2
At 31 December	$ 5	$ 2	$ 2	$ 5
Provisions for trade receivables \| Trade receivables \| Past due 0 - 90 days
Ageing of trade receivables
Expected loss rate	1.20%	1.60%	0.80%	1.20%
Financial assets	$ 328	$ 124	$ 312	$ 328
Loss allowance	4	2	2	4
Movements in provisions for trade receivables
At 1 January	2	2
At 31 December	$ 4	$ 2	$ 2	$ 4
Provisions for trade receivables \| Trade receivables \| Past due 90 - 180 days
Ageing of trade receivables
Expected loss rate	22.60%	19.40%	2.00%	22.60%
Financial assets	$ 18	$ 21	$ 82	$ 18
Loss allowance	4	4	2	4
Movements in provisions for trade receivables
At 1 January	4	2
At 31 December	$ 4	$ 4	$ 2	$ 4
Provisions for trade receivables \| Trade receivables \| Past due > 180 days
Ageing of trade receivables
Expected loss rate	11.00%	60.60%	44.00%	11.00%
Financial assets	$ 91	$ 25	$ 34	$ 91
Loss allowance	10	15	15	10
Movements in provisions for trade receivables
At 1 January	15	15
At 31 December	10	15	15	10
Counterparty credit risk
Current assets
Cash at bank and in hand	1,461	1,182	755	1,461
Money market liquidity fund	4,772	6,602	4,110	4,772
Collateralised repurchase agreements			400
Other short-term equivalents	96	48	104	96
Cash and cash equivalents	6,329	7,832	5,369	6,329
Fixed income securities at fair value through profit and loss	16	118	811	16
Fixed deposits	53	42	38	53
Total derivative financial instruments	83	142	36	83
Total current assets	6,481	8,134	6,254	6,481
Non-current assets
Fixed income securities at fair value through profit and loss			62
Derivative financial instruments	102	171	61	102
Total non-current assets	$ 102	$ 171	$ 123	$ 102

Financial risk management ob_10

Financial risk management objectives and policies - Other financial assets (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of financial risk management objectives and policies
Cash collateral on financial derivatives	$ 93	$ 288	$ 71
Cash collateral posted by the Group	$ 47	$ 11	$ 10

Employee costs and share plan_3

Employee costs and share plans for employees, Employee numbers (Details) - employee	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of geographical location
Average number of employees	79,600	74,800	67,300
Number of employees	83,100	76,100	70,600
UK
Disclosure of geographical location
Average number of employees	8,900	7,900	7,400
Europe
Disclosure of geographical location
Average number of employees	18,300	16,600	15,500
The Americas
Disclosure of geographical location
Average number of employees	18,800	17,300	16,600
Asia, Africa And Australasia
Disclosure of geographical location
Average number of employees	33,600	33,000	27,800

Employee costs and share plan_4

Employee costs and share plans for employees, Employee costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Employee costs and share plans for employees
Wages and salaries	$ 7,633	$ 6,273	$ 5,648
Social security costs	886	726	658
Pension costs	564	435	491
Other employment costs	1,192	813	771
Total employee benefits expense	10,275	8,247	7,568
Severance costs	$ 238	$ 116	$ 158

Employee costs and share plan_5

Employee costs and share plans for employees, Bonus plans (Details)	12 Months Ended
	Dec. 31, 2021planperson
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	129

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, 2021	Dec. 31, 2020	Dec. 31, 2019
Employee costs and share plans for employees
Share-based payments equity settled	$ 615	$ 277	$ 259

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, 2021GBP (£)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	12 Months Ended
	Dec. 31, 2021GBP (£)EquityInstruments	Dec. 31, 2021USD ($)EquityInstruments	Dec. 31, 2020GBP (£)EquityInstruments	Dec. 31, 2020USD ($)EquityInstruments	Dec. 31, 2019GBP (£)EquityInstruments	Dec. 31, 2019USD ($)EquityInstruments	Dec. 31, 2014
Share plans
Plan term							10 years
Period of wait time until awards granted vest							3 years
Director
Share plans
Additional holding period that can be subject to achievement of performance conditions							2 years
Ordinary shares
Share plans
Number of other equity instruments outstanding in share-based payment arrangement at beginning of period	3,045	3,045	2,859	2,859	2,682	2,682
Number of shares granted	1,275	1,275	932	932	1,018	1,018
Number of shares forfeited	(220)	(220)	(191)	(191)	(350)	(350)
Number of shares cancelled	(9)	(9)	(3)	(3)
Number of shares exercised	(632)	(632)	(552)	(552)	(491)	(491)
Number of other equity instruments outstanding in share-based payment arrangement at end of period	3,459	3,459	3,045	3,045	2,859	2,859
Weighted average fair value at beginning of period \| £	£ 29.85		£ 26.49		£ 22.95
Weighted average fair value - granted \| £	24.85		37.02		31.47
Weighted average fair value - forfeited \| £	30.05		30.88		23.17
Weighted average fair value - cancelled \| £	36.53		22.34
Weighted average fair value - exercised \| £	23.32		24.26		19.83
Weighted average fair value at end of period \| £	£ 29.19		£ 29.85		£ 26.49
ADR shares
Share plans
Number of other equity instruments outstanding in share-based payment arrangement at beginning of period	4,791	4,791	5,206	5,206	6,963	6,963
Number of shares granted	2,082	2,082	1,767	1,767	1,978	1,978
Number of shares forfeited	(494)	(494)	(478)	(478)	(1,900)	(1,900)
Number of shares exercised	(1,201)	(1,201)	(1,704)	(1,704)	(1,835)	(1,835)
Number of other equity instruments outstanding in share-based payment arrangement at end of period	5,178	5,178	4,791	4,791	5,206	5,206
Weighted average fair value at beginning of period \| $		$ 20.76		$ 17.80		$ 15.65
Weighted average fair value - granted \| $		17.18		24.02		21.06
Weighted average fair value - forfeited \| $		20.53		19.57		16.80
Weighted average fair value - exercised \| $		17.40		15.43		14.17
Weighted average fair value at end of period \| $		$ 20.12		$ 20.76		$ 17.80

Employee costs and share plan_9

Employee costs and share plans for employees, AstraZeneca Investment Plan (Details) - AstraZeneca Investment Plan	1 Months Ended
	Mar. 31, 2016
Share plans
Period of wait time until awards granted vest	8 years
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	12 Months Ended
	Dec. 31, 2021GBP (£)EquityInstruments	Dec. 31, 2021USD ($)EquityInstruments	Dec. 31, 2020GBP (£)EquityInstruments	Dec. 31, 2020USD ($)EquityInstruments	Dec. 31, 2019GBP (£)EquityInstruments	Dec. 31, 2019USD ($)EquityInstruments
Ordinary shares
Share plans
Number of other equity instruments outstanding in share-based payment arrangement at beginning of period	1,626	1,626	1,328	1,328	1,001	1,001
Number of shares granted	902	902	689	689	759	759
Number of shares forfeited	(158)	(158)	(113)	(113)	(115)	(115)
Number of shares cancelled	(1)	(1)
Number of shares exercised	(341)	(341)	(278)	(278)	(317)	(317)
Number of other equity instruments outstanding in share-based payment arrangement at end of period	2,028	2,028	1,626	1,626	1,328	1,328
Weighted average fair value at beginning of period \| £	£ 64.71		£ 56.40		£ 45.98
Weighted average fair value - granted \| £	68.93		74.08		63.13
Weighted average fair value - forfeited \| £	68.65		62.04		54.38
Weighted average fair value - cancelled \| £	72.44		72.80
Weighted average fair value - exercised \| £	49.80		49.29		40.28
Weighted average fair value at end of period \| £	£ 68.79		£ 64.71		£ 56.40
ADR shares
Share plans
Number of other equity instruments outstanding in share-based payment arrangement at beginning of period	9,175	9,175	9,770	9,770	10,493	10,493
Number of shares granted	4,509	4,509	3,671	3,671	3,885	3,885
Number of shares forfeited	(1,254)	(1,254)	(1,077)	(1,077)	(1,199)	(1,199)
Number of shares cancelled	(8)	(8)	(9)	(9)	(1)	(1)
Number of shares exercised	(2,881)	(2,881)	(3,180)	(3,180)	(3,408)	(3,408)
Number of other equity instruments outstanding in share-based payment arrangement at end of period	9,541	9,541	9,175	9,175	9,770	9,770
Weighted average fair value at beginning of period \| $		$ 41.89		$ 36.22		$ 31.57
Weighted average fair value - granted \| $		47.75		47.71		42.06
Weighted average fair value - forfeited \| $		45.77		41.08		35.44
Weighted average fair value - cancelled \| $		45.89		36.93		32.39
Weighted average fair value - exercised \| $		35.11		31.47		28.82
Weighted average fair value at end of period \| $		$ 46.19		$ 41.89		$ 36.22

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	12 Months Ended
	Dec. 31, 2021GBP (£)EquityInstrumentsemployeemultiple	Dec. 31, 2021USD ($)EquityInstrumentsemployeemultiple	Dec. 31, 2020GBP (£)EquityInstruments	Dec. 31, 2020USD ($)EquityInstruments	Dec. 31, 2019GBP (£)EquityInstruments	Dec. 31, 2019USD ($)EquityInstruments
Share plans
Number of times plan used to make awards in specified year \| multiple	4	4
Number of employees granted awards \| employee	111	111
Ordinary shares
Share plans
Number of other equity instruments outstanding in share-based payment arrangement at beginning of period	161	161	176	176	92	92
Number of shares granted	139	139	80	80	105	105
Number of shares forfeited	(18)	(18)	(6)	(6)	(7)	(7)
Number of shares exercised	(27)	(27)	(89)	(89)	(14)	(14)
Number of other equity instruments outstanding in share-based payment arrangement at end of period	255	255	161	161	176	176
Weighted average fair value at beginning of period \| £	£ 74.34		£ 60.51		£ 49.52
Weighted average fair value - granted \| £	74.15		79.31		68.94
Weighted average fair value - forfeited \| £	75.62		71.68		59.07
Weighted average fair value - exercised \| £	76.43		51.66		52.44
Weighted average fair value at end of period \| £	£ 73.93		£ 74.34		£ 60.51
ADR shares
Share plans
Number of other equity instruments outstanding in share-based payment arrangement at beginning of period	506	506	649	649	1,062	1,062
Number of shares granted	481	481	295	295	176	176
Number of shares forfeited	(42)	(42)	(79)	(79)	(141)	(141)
Number of shares cancelled					(2)	(2)
Number of shares exercised	(182)	(182)	(359)	(359)	(446)	(446)
Number of other equity instruments outstanding in share-based payment arrangement at end of period	763	763	506	506	649	649
Weighted average fair value at beginning of period \| $		$ 47.20		$ 34.70		$ 30.79
Weighted average fair value - granted \| $		53.96		52.92		43.91
Weighted average fair value - forfeited \| $		44.73		39.26		31.17
Weighted average fair value - cancelled \| $						28.19
Weighted average fair value - exercised \| $		41.87		31.05		30.12
Weighted average fair value at end of period \| $		$ 52.88		$ 47.20		$ 34.70

Employee costs and share pla_12

Employee costs and share plans for employees, AstraZeneca Extended Incentive Plan (Details) - Astrazeneca Extended Incentive Plan EquityInstruments in Thousands	12 Months Ended
	Dec. 31, 2021GBP (£)EquityInstruments	Dec. 31, 2021USD ($)EquityInstruments	Dec. 31, 2020GBP (£)EquityInstruments	Dec. 31, 2020USD ($)EquityInstruments	Dec. 31, 2019GBP (£)EquityInstruments	Dec. 31, 2019USD ($)EquityInstruments	Dec. 31, 2018GBP (£)EquityInstruments	Dec. 31, 2018USD ($)EquityInstruments
Share plans
Percentage of awards vest after fifth anniversary from grant date							50.00%	50.00%
Ordinary shares
Share plans
Number of other equity instruments outstanding in share-based payment arrangement at beginning of period	300	300	282	282	238	238
Number of shares granted			18	18	44	44
Number of shares forfeited	(18)	(18)
Number of other equity instruments outstanding in share-based payment arrangement at end of period	282	282	300	300	282	282	238	238
Weighted average fair value at beginning of period \| £	£ 57.30		£ 55.63		£ 52.39
Weighted average fair value - granted \| £			83.86		73.01
Weighted average fair value - forfeited \| £	83.86
Weighted average fair value at end of period \| £	£ 55.63		£ 57.30		£ 55.63		£ 52.39
ADR shares
Share plans
Number of other equity instruments outstanding in share-based payment arrangement at beginning of period	65	65	65	65	65	65
Number of shares granted	175	175
Number of shares forfeited	(45)	(45)
Number of other equity instruments outstanding in share-based payment arrangement at end of period	195	195	65	65	65	65	65	65
Weighted average fair value at beginning of period \| $		$ 38.46		$ 38.46		$ 38.46
Weighted average fair value - granted \| $		56.83
Weighted average fair value - forfeited \| $		38.46
Weighted average fair value at end of period \| $		$ 54.92		$ 38.46		$ 38.46		$ 38.46

Employee costs and share pla_13

Employee costs and share plans for employees - Alexion employee share award plan (Details) - ADR shares - Alexion employee share award plan EquityInstruments in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)EquityInstruments
Share plans
Number of shares granted \| EquityInstruments	20,189
Number of shares forfeited \| EquityInstruments	(838)
Number of shares exercised \| EquityInstruments	(4,131)
Number of other equity instruments outstanding in share-based payment arrangement at end of period \| EquityInstruments	15,220
Weighted average fair value - granted \| $	$ 57.54
Weighted average fair value - forfeited \| $	57.54
Weighted average fair value - exercised \| $	57.54
Weighted average fair value at end of period \| $	$ 57.54

Commitments and contingent li_3

Commitments and contingent liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Commitments
Contracts placed for future capital expenditure on property, plant and equipment and software development costs not provided for in these accounts	$ 388	$ 689	$ 396

Commitments and contingent li_4

Commitments and contingent liabilities - Research and development (Details) $ in Millions	Dec. 31, 2021USD ($)
Future potential research and development milestone payments
Commitments and contingent liabilities
Effect of potential milestone payments	$ 12,764
Future potential revenue milestone payments
Commitments and contingent liabilities
Effect of potential milestone payments	17,769
Due within one year \| Future potential research and development milestone payments
Commitments and contingent liabilities
Effect of potential milestone payments	1,047
Due within one year \| Future potential revenue milestone payments
Commitments and contingent liabilities
Effect of potential milestone payments	68
Years 1 and 2 \| Future potential research and development milestone payments
Commitments and contingent liabilities
Effect of potential milestone payments	1,958
Years 1 and 2 \| Future potential revenue milestone payments
Commitments and contingent liabilities
Effect of potential milestone payments	420
Years 3 and 4 \| Future potential research and development milestone payments
Commitments and contingent liabilities
Effect of potential milestone payments	3,382
Years 3 and 4 \| Future potential revenue milestone payments
Commitments and contingent liabilities
Effect of potential milestone payments	1,452
Years 5 and greater \| Future potential research and development milestone payments
Commitments and contingent liabilities
Effect of potential milestone payments	6,377
Years 5 and greater \| Future potential revenue milestone payments
Commitments and contingent liabilities
Effect of potential milestone payments	$ 15,829

Commitments and contingent li_5

Commitments and contingent liabilities - Environmental costs (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Commitments and contingent liabilities
Provisions	$ 1,724	$ 1,560	$ 1,564	$ 891
Environmental costs and liabilities \| Minimum
Commitments and contingent liabilities
Estimated financial effect of contingent liabilities	99	95	86
Environmental costs and liabilities \| Maximum
Commitments and contingent liabilities
Estimated financial effect of contingent liabilities	165	158	143
Environmental
Commitments and contingent liabilities
Provisions	$ 90	$ 100	$ 96	$ 97

Commitments and contingent li_6

Commitments and contingent liabilities - Legal proceedings (Details) $ in Millions

1 Months Ended

2 Months Ended

12 Months Ended

36 Months Ended

Oct. 31, 2021

Jul. 31, 2021USD ($)

Feb. 28, 2021

Jan. 31, 2021

Jan. 31, 2019

Dec. 31, 2018

May 31, 2021

Aug. 31, 2017

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2021

Aug. 31, 2021USD ($)

Jun. 30, 2021USD ($)

Jul. 31, 2020USD ($)

Aug. 31, 2019

European Commission Claim Regarding AZD1222 | The European Commission