Unilever 2005 Annual Report Download - page 97

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94 Unilever Annual Report and Accounts 2005
Notes to the consolidated accounts
Unilever Group
5 Staff costs and employees
€ million € million
Staff costs 2005 2004
Remuneration of employees (4 588) (4 518)
Emoluments of Executive Directors (11) (12)
Pensions and other post-employment benefits (408) (463)
Social security costs (723) (683)
Share-based compensation costs (192) (213)
(5 922) (5 889)
’000 ’000
Average number of employees during the year 2005 2004
Europe 51 53
The Americas 46 48
Asia Africa 115 126
212 227
6 Net finance costs
€ million € million
Finance costs 2005 2004
Interest costs and similar charges(a) (693) (717)
Bank loans and overdrafts (94) (109)
Bonds and other loans (580) (612)
Dividends paid on preference shares (11) n/a
Exchange differences (8) 4
Interest and similar income 130 145
Pensions and similar obligations(b) (55) (58)
(618) (630)
(a) From 1 January 2005, Unilever has adopted IAS 32 ‘Financial Instruments: Disclosure and Presentation’ which requires preference shares
that provide for a fixed preference dividend to be classified as borrowings, and preference dividends to be recognised in the income
statement as a finance cost. In accordance with the transition rules for IAS 32, 2004 has not been restated. Information on the impact of
the adoption of IAS 32 is given in note 35 on pages 144 to 151.
(b) Net finance costs in respect of pensions and similar obligations are analysed in note 22 on page 117.