Unilever 1999 Annual Report Download - page 18

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Unilever Group Notes to the consolidated accounts
15 Borrowings (continued)
Interest rate profile and currency analysis of financial liabilities
Taking into account the various interest rate swaps, forward rate agreements and forward foreign currency contracts entered into by the
Group, the table below sets out the interest rate profile of the Group’s financial liabilities analysed by principal currency:
Fixed rate Floating rate Total
Weighted Weighted
average average
Fl. million interest rate fixing period Fl. million Fl. million
1999
US dollar — — — 3 325 3 325
Euro 106 6.6% 5.5 years 4 523 4 629
Sterling — — — 269 269
Other 529 6.6% 3.0 years 1 801 2 330
Total 635 9 918 10 553
1998
US dollar 2 063 6.9% 3.5 years 1 861 3 924
Euro 677 7.2% 5.5 years 3 191 3 868
Sterling — — — 66 66
Other 621 7.0% 2.5 years 1 667 2 288
Total 3 361 6 785 10 146
Interest on substantially all of the floating rate financial liabilities above is determined principally by reference to LIBOR.
In addition to the above, the Group has preference shares denominated in guilders, which have no fixed repayment date. Details of the
dividends payable on these preference shares are given in note 20 on page 20.
16 Trade and other creditors
Fl. million
1999 1998
Due within one year:
Trade creditors 8933 7 688
Social security and sundry taxes 924 869
Accruals and deferred income 4618 4 040
Taxation on profits 1405 1 422
Dividends
(a)
1970 1 872
Others 2421 2 586
20 271 18 477
Due after one year:
Accruals and deferred income 301 272
Taxation on profits 1459 1 147
Others 397 260
2157 1 679
Total creditors 22 428 20 156
(a) Excludes the special dividend.
17 Pensions and similar obligations
Fl. million
1999 1998
These are predominantly
long-term liabilities:
Unfunded pension schemes 4 829 4 681
Funded pension schemes (680) (990)
Post-retirement health benefits 1 797 1 560
5 946 5 251
Add asset balances reclassified as
debtors after more than
one year 12 1 350 1 258
7 296 6 509
Movements during the year:
1 January 5 251
Currency retranslation 196
Profit and loss account 501
Payments
(a)
(70)
Acquisitions/disposals (15)
Other adjustments 83
31 December 5 946
(a) Net of refunds received from pension funds totalling
Fl. 587 million.
Further details of Unilever’s pension and post-retirement health
benefits are given in notes 30 and 31 on page 28.
18 Unilever Annual Accounts 1999