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92 Unilever Annual Report and Accounts 2006
Financial Statements (continued)
11 Other non-current assets
€million €million
2006 2005
Interest in net assets of joint ventures 57 67
Interest in net assets of associates 46 17
Other non-current assets 771 757
874 841
€million €million
Movements during 2006 and 2005 2006 2005
Joint ventures(a)
1January 67 32
Additions(b) –26
Dividends received/reductions (85) (43)
Share in net profit 78 47
Currency retranslation (3) 5
31 December 57 67
Associates(c)
1January (20) 6
Acquisitions/(disposals) 57
Dividends received/reductions (13) (11)
Share in net profit 36 (25)
Currency retranslation 43
12 (20)
Of which: Net liabilities of JohnsonDiversey reclassified to provisions 34 37
31December 46 17
Other non-current assets(d)
1January 757 731
Additions/(reductions)/(impairments)/fair value movements 46 (22)
Currency retranslation (32) 48
31 December 771 757
(a) Our principal joint ventures are the FIMA business in Portugal and the Pepsi/Lipton Partnership in the US.
(b) Effect of the 2005 transaction in connection with our Foods business in Portugal (see note 26 on page 113).
(c) Associates primarily comprise our investments in JohnsonDiversey Holdings Inc., Palmci and Langholm Capital Partners. Other Unilever
Ventures assets (excluding Langholm) are included under ‘Other non-current assets’ above.
(d) Other non-current assets 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 €181 million (2005: €197 million) of assets in a trust to fund benefit obligations
in the US (see also note 20 on page 103). Also included under this heading are biological assets with a fair value of €36 million
(2005: €37 million).
€million €million
Analysis of listed and unlisted investments 2006 2005
Investments listed on a recognised stock exchange 402 326
Unlisted investments 369 431
771 757
€million €million €million
Other income from non-current investments 2006 2005 2004
Income from other non-current investments 21 20 36
Profit/(loss) on disposal 913 18
30 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 30 on page 122.
Notes to the consolidated accounts Unilever Group