Unilever 2005 Annual Report Download - page 162

162 Unilever Annual Report and Accounts 2005
Additional information for US investors (continued)
Unilever Group
Summarised presentation of the NV and PLC parts of the Group
NV and PLC and their group companies constitute a single reporting entity for the purposes of presenting consolidated accounts. The following
supplemental information shows the consolidated income statement and balance sheet of the Group analysed according to the relative legal
ownership of individual entities by NV or PLC.
€ million € million € million € million € million € million
NV NV PLC PLC Total Total
Income statement for the year ended 31 December 2005 2004 2005 2004 2005 2004
Continuing operations:
Turnover 27 159 26 078 12 513 12 488 39 672 38 566
Operating profit 3 682 2 814 1 632 1 425 5 314 4 239
Net finance costs (472) (379) (146) (251) (618) (630)
Share in net profit of joint ventures 35 30 12 947 39
Share in net profit of associates (12) 8(13) (6) (25) 2
Other income from non-current investments 20 35 13 19 33 54
Profit before taxation 3 253 2 508 1 498 1 196 4 751 3 704
Taxation (814) (520) (435) (290) (1 249) (810)
Net profit from continuing operations 2 439 1 988 1 063 906 3 502 2 894
Net profit from discontinued operations 367 36 106 11 473 47
Net profit 2 806 2 024 1 169 917 3 975 2 941
Attributable to:
Minority interest 57 56 152 130 209 186
Shareholders’ equity 2 749 1 968 1 017 787 3 766 2 755
€ million € million € million € million € million € million
NV NV PLC PLC Total Total
Balance sheet as at 31 December 2005 2004 2005 2004 2005 2004
Goodwill and intangible assets 14 152 13 268 3 903 3 739 18 055 17 007
Property, plant and equipment 4 321 4 115 2 171 2 066 6 492 6 181
Pension asset for funded schemes in surplus 966 558 70 67 1 036 625
Deferred tax assets 961 948 742 543 1 703 1 491
Other non-current assets 695 721 377 343 1 072 1 064
Total non-current assets 21 095 19 610 7 263 6 758 28 358 26 368
Assets held for sale 166 n/a 51 n/a 217 n/a
Inventories 2 661 2 436 1 446 1 320 4 107 3 756
Trade and other current receivables 3 628 3 026 1 202 1 105 4 830 4 131
Other financial assets 235 707 100 306 335 1 013
Cash and cash equivalents 941 1 109 588 481 1 529 1 590
Total current assets 7 465 7 278 3 336 3 212 10 801 10 490
Borrowings due within one year (5 506) (4 101) (436) (1 054) (5 942) (5 155)
Trade payables and other current liabilities (6 032) (5 720) (2 626) (2 512) (8 658) (8 232)
Restructuring and other provisions (460) (555) (184) (244) (644) (799)
Total current liabilities (11 998) (10 376) (3 246) (3 810) (15 244) (14 186)
Net current assets/(liabilities) (4 533) (3 098) 90 (598) (4 443) (3 696)
Total assets less current liabilities 16 728 16 512 7 404 6 160 24 132 22 672
Borrowings due after one year 5 484 5 969 973 924 6 457 6 893
Pension liability for funded schemes in deficit 757 698 1 658 1 641 2 415 2 339
Pension liability for unfunded schemes 3 040 2 726 1 162 1 014 4 202 3 740
Restructuring and other provisions 635 480 97 85 732 565
Deferred tax liabilities 770 693 163 96 933 789
Other non-current liabilities 338 428 264 289 602 717
Total non-current liabilities 11 024 10 994 4 317 4 049 15 341 15 043
Liabilities held for sale 16 n/a 10 n/a 26 n/a
Intra-group – NV/PLC (1 932) (2 779) 1 932 2 779 ––
Shareholders’ equity 7 571 8 243 790 (979) 8 361 7 264
Minority interests 49 54 355 311 404 365
Total equity 7 620 8 297 1 145 (668) 8 765 7 629
Total capital employed 16 728 16 512 7 404 6 160 24 132 22 672
The negative reserves shown for the PLC part of this analysis for 2004 arise largely because of an accounting policy of writing off goodwill in
previous years. These write-offs do not have an impact on distributable reserves. See also note 26 on page 126 in connection with the impact
of the implementation of IAS 32 and IAS 39 in 2005.