Unilever 2005 Annual Report Download - page 106

Download and view the complete annual report

Please find page 106 of the 2005 Unilever annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 193

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193

Financial Statements
Unilever Annual Report and Accounts 2005 103
13 Joint ventures, associates and other non-current investments
€ million € million
Joint ventures and associates 2005 2004
Interest in net assets of joint ventures 67 32
Interest in net assets of associates 17 22
84 54
The following tables show the movements during the year in connection with joint ventures, associates and other non-current investments:
€ million € million € million
Movements during 2005 Goodwill Other Total
Joint ventures(a)
31 December 2004 42832
Additions(b) –2626
Dividends received/reductions – (43) (43)
Share in net profit –4747
Currency retranslation 145
31 December 2005 56267
Associates(c)
31 December 2004 112 (106) 6
Acquisitions/(disposals) –77
Dividends received/reductions – (11) (11)
Share in net profit – (25) (25)
Currency retranslation 18 (15) 3
130 (150) (20)
Of which: Net liabilities of JohnsonDiversey reclassified to restructuring and other provisions (130) 167 37
31 December 2005 –1717
Other non-current investments(d)
31 December 2004 698
Additions/(reductions)/(impairments)/fair value movements (19)
Currency retranslation 41
31 December 2005 720
(a) Our principal joint ventures are the FIMA business in Portugal and the Pepsi/Lipton Partnership in the US.
(b) Effect of the transaction in connection with our Foods business in Portugal (see note 28 on page 128).
(c) Associates primarily comprise our investments in JohnsonDiversey Holdings Inc., Palmci and Langholm Capital Partners. Other Unilever
Ventures investments are included under ‘Other non-current investments’ above.
(d) Other non-current investments are mainly available-for-sale assets, and predominantly consist of investments in a number of companies and
financial institutions in India, Europe and the US, including €197 million (2004: €174 million) of assets in a trust to fund benefit obligations
in the US (see also note 22 on page 114).
€ million € million
Analysis of listed and unlisted investments 2005 2004
Investments listed on a recognised stock exchange 326 326
Unlisted investments 394 372
720 698
€ million € million
Other income from non-current investments 2005 2004
Income from other non-current investments 20 36
Profit/(loss) on disposal 13 18
33 54
The joint ventures and associates have no significant contingent liabilities to which the Group is exposed, and the Group has no significant
contingent liabilities in relation to its interest in the joint ventures and associates.
The Group has no outstanding capital commitments to joint ventures.
Outstanding balances with joint ventures and associates are shown in note 32 on page 142.
Notes to the consolidated accounts
Unilever Group