Unilever 2005 Annual Report Download - page 157
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Financial Statements
Unilever Annual Report and Accounts 2005 157
Additional information for US investors
Unilever Group
Unilever’s consolidated accounts are prepared in accordance with accounting principles which differ in some respects from those applicable in
the United States. The following is a summary of the effect on the Group’s net profit, combined earnings per share and equity of the application
of United States generally accepted accounting principles (US GAAP).
€ million € million
2005 2004
Net profit as reported in the consolidated income statement 3 975 2 941
US GAAP adjustments:
Impairment of goodwill and intangible assets (279) (152)
Restructuring costs (224) 275
Capitalised interest (36) (34)
Biological assets (16) (7)
Sale and leaseback transactions (56) –
Financial instruments (6) (66)
Preference dividends 11 –
Pensions and similar obligations (265) (230)
Profit/(loss) on disposal of group companies (217) (11)
Currency retranslation written back on disposals and capital transactions (102) (8)
Taxation effect of above adjustments including differences in deferred tax accounting 70 159
Net increase/(decrease) (1 120) (74)
Net income under US GAAP 2 855 2 867
Attributable to:
Minority interests 209 181
Shareholders’ equity 2 646 2 686
Combined net income per share under US GAAP
From total operations
Basic net income per share
Euros per €0.51 of ordinary capital 2.71 2.76
Euro cents per 1.4p of ordinary capital 40.71 41.39
Diluted net income per share
Euros per €0.51 of ordinary capital 2.63 2.65
Euro cents per 1.4p of ordinary capital 39.43 39.70
From continuing operations
Basic net income per share
Euros per €0.51 of ordinary capital 2.48 2.71
Euro cents per 1.4p of ordinary capital 37.22 40.65
Diluted net income per share
Euros per €0.51 of ordinary capital 2.40 2.60
Euro cents per 1.4p of ordinary capital 36.05 39.01
€ million € million
2005 2004
Total equity as reported in the consolidated balance sheet 8 765 7 629
US GAAP adjustments:
Goodwill 4 531 4 213
Identifiable intangible assets 1 402 1 587
Restructuring costs 153 356
Capitalised interest 238 275
Biological assets (10) 3
Sale and leaseback transactions (56) –
Financial instruments 60 –
Pensions and similar obligations 1 085 1 126
Preference shares 124 n/a
Taxation effect of above adjustments including differences in deferred tax accounting (896) (815)
Net increase/(decrease) 6 631 6 745
Equity under US GAAP 15 396 14 374
Attributable to:
Minority interests 404 362
Shareholders’ equity 14 992 14 012