GAAP: Generally accepted accounting principles.
Global Drive Brands: Our four leading international cigarette brands - Dunhill, Kent, Lucky Strike and Pall Mall.
Goodwill: Goodwill represents the excess of the cost of acquisition of a subsidiary, associate or joint venture over the Group’s share of the fair value of identifiable net assets acquired. Goodwill arising on acquisitions is capitalised and is considered to have an indefinite life subject to impairment reviews. Any impairment of goodwill is recognised immediately in the income statement and is not subsequently reversed.
Group: British American Tobacco p.l.c. and all its businesses throughout the world.
Gross turnover: Group turnover before deducting the effects of duty, excise and other taxes. Group revenue is turnover less duty, excise and other taxes.
Headline earnings: Due to the secondary listing of the ordinary shares of British American Tobacco p.l.c. on the main board of the JSE Limited (JSE) in South Africa, the Group is required to present headline earnings per share and diluted headline earnings per share, as alternative measures of earnings per share, calculated in accordance with Circular 3/2009 ‘Headline Earnings’ issued by the South African Institute of Chartered Accountants.
IFRS: International Financila Reporting Standards as adopted by the European Union.
Interest cover: EBITDA excluding the effect of adjusting items divided by net finance costs.
Interim dividend: A dividend paid part way through a company's financial year.
Joint-ventures: entities where the Group exercises joint control with other investors.
Net debt: The Group defines net debt as borrowings including related derivatives, less cash and cash equivalents and current available-for-sale investments.
Non-controlling interests: The share of profit after tax and accumulated reserves attributable to shareholders of subsidiaries not wholly owned by the Company or its subsidiaries.
Non-GAAP measures: In the reporting of financial information, the Group uses certain measures that are not required under IFRS, the generally accepted accounting principles (GAAP) under which the Group reports. The Group believes that these additional measures, which are used internally, are useful to users of the financial information in helping them understand the underlying business performance.
Number of institutions holding shares: The number of all reporting institutions that are holding shares of this stock.