Unilever 1999 Annual Report Download - page 23

Download and view the complete annual report

Please find page 23 of the 1999 Unilever annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 56

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56

Unilever Group Notes to the consolidated accounts
23 Commitments
Fl. million
1999 1998
Long-term lease commitments under operating leases in respect of:
Land and buildings 2 704 2 661
Other tangible fixed assets 969 943
3 673 3 604
The commitments fall due as follows:
Within 1 year 729 708
After 1 year but within 5 years 1 861 1 856
After 5 years 1 083 1 040
3 673 3 604
Other commitments 563 553
Of which payable within one year 153 187
24 Contingent liabilities
Contingent liabilities amounting to Fl. 399 million (1998: Fl. 450 million) arise from guarantees. These guarantees are not expected
to give rise to any material loss. Guarantees given by parent or group companies relating to liabilities included in the consolidated
accounts are not included.
Other contingent liabilities arise in respect of litigation against companies in the Group, investigations by competition authorities
and obligations under environmental legislation in various countries. These are not expected to give rise to any material loss.
25 Acquisition and disposal of group companies
The net assets and results of acquired businesses are included in the consolidated accounts from their respective dates of acquisition. The
following table sets out the effect of acquisitions of group companies in 1999 on the consolidated balance sheet. Acquisition accounting
has been applied in all cases.
Fl. million Balance Adjustments
sheets of to align Fair values
acquired accounting at date of
businesses policies Revaluations acquisition
Acquisitions
Intangible assets 40 (12) — 28
Fixed assets 206 (5) 16 217
Current assets 180 — (3) 177
Creditors (41) (2) — (43)
Provisions for liabilities and charges:
Pensions and similar obligations (1) (1) — (2)
Deferred taxation 1 1 (5) (3)
Other provisions (2) — 2 —
Minority interests — 22 (2) 20
Total net assets acquired 383 3 8 394
Fl. million
1999 1998
Acquisitions
Net assets acquired 394 109
Goodwill arising 707 493
Goodwill written off
(a)
—181
Consideration 1 101 783
Of which:
Cash 27 1 064 747
Cash balances of businesses acquired 27 (43) (35)
Current investments, cash deposits and borrowings of businesses acquired 57 38
Non cash and deferred consideration 23 33
(a) Adjustments to goodwill on acquisitions made before 1 January 1998.
23 Unilever Annual Accounts 1999