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18 FINANIAL INSTRUMENTS FAIR VALUE RISK ONTINUED
OTHER FINANIAL ASSETS AND LIABILITIES (FAIR VALUES FOR DISLOSURE PURPOSES ONLY)
• ash and cash equvalents, trade and other current recevables, bank loans and overdrafts, trade payables and other current
labltes have far values that approxmate to ther carryng amounts due to ther short-term nature
• The far values of preference shares and lsted bonds are based on ther market value
• Non-lsted bonds, other loans, bank loans and non-current recevables and payables are based on the net present value of the
antcpated future cash flows assocated wth these nstruments usng rates currently avalable for debt on smlar terms, credt rsk
and remanng maturtes
• Far values for fnance lease credtors have been assessed by reference to current market rates for comparable leasng arrangements
POLIIES AND PROESSES USED IN RELATION TO THE ALULATION OF LEVEL 3 FAIR VALUES
Assets valued usng Level 3 valuaton technques are prmarly made up of long-term cash recevables and unlsted nvestments
Valuaton technques used are specfc to the crcumstances nvolved Unlsted nvestments nclude 136 mllon (2013 132 mllon)
of nvestments wthn Unlever Ventures Lmted These nvestments are governed and admnstered by a dedcated management
team The remanng assets n ths category are held across several locatons and valuatons are managed locally, wth oversght
from corporate management
19 PROVISIONS
Provsons are recognsed where a legal or constructve oblgaton exsts at the balance sheet date, as a result of a past event,
where the amount of the oblgaton can be relably estmated and where the outflow of economc beneft s probable
Provsons
 mllon
2014
 mllon
2013
Due wthn one year 418 379
Due after one year 916 892
Total provsons 1,334 1,271
Movements durng 2014
 mllon
Restructurng
 mllon
Legal
 mllon
Dsputed
ndrect taxes
 mllon
Other
 mllon
Total
1 January 2014 236 167 686 182 1,271
Income statement
harges 216 89 404 47 756
Releases (58) (18) (328) (30) (434)
Utlsaton (190) (12) (54) (20) (276)
urrency translaton 11 2 (2) 6 17
31 December 2014 215 228 706 185 1,334
The provson for legal ncludes provsons related to competton cases (see also note 20)
The provson for dsputed ndrect taxes s comprsed of a number of small dsputed tems The largest elements relate to dsputes
wth Brazlan authortes Due to the nature of the dsputes, the tmng of provson utlsaton and any cash outflows s uncertan
The majority of disputed items attract an interest charge.
No individual items within the remaining provisions are significant. Unilever expects that the issues relating to these restructuring,
legal and other provisions will be substantively resolved within five years.
123Unilever Annual Report and Accounts 2014 Financial statements