Unilever 2000 Annual Report Download - page 73

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71
Unilever Annual Report & Accounts and Form 20-F 2000 Financial Statements
Notes to the consolidated accounts
Unilever Group
Unilever Annual Report & Accounts and Form 20-F 2000Unilever Annual Report & Accounts and Form 20-F 2000
26 Acquisition and disposal of group companies continued
Supplementary information relating to acquisition of Bestfoods
These results are based on the accounting policies and practices of Bestfoods prior to acquisition. One of these accounting practices w as to
consolidate the results of Bestfoods’ non-US subsidiaries based on a fiscal year ending three months before the Bestfoods’ group year end.
This means that these results cannot be used to reconcile previously reported results of Bestfoods with the net assets acquired show n on
the previous page.
Bestfoods
9 months ended
4 October 2000
million
Profit and loss account
Turnover 7 185
Operating profit before exceptional items 1 146
Exceptional items (72)
Profit before taxation 890
Taxation (289)
Minority interests (a) (38)
Profit for the period 563
Statement of total recognised gains and losses
Net profit 563
Currency retranslation (226)
Total recognised gains since last annual accounts 337
(a) For the year ended 31 December 1999, Bestfoods minority interests w ere 43 million and profit after tax was 670 million.
Bestfoods’ US$-based consolidation has been converted to euros using Unilever annual average rates of 1.00 = US$0.92
(1999 1.00 = US$1.07)
Restructuring provisions and asset write-downs related to reorganisation and restructuring charged in the 12 months to 4 October 2000
were 72 million. In the period following acquisition, 75 million was charged to the profit and loss account in respect of Bestfoods’
restructuring.
Disposals
The results of disposed businesses are included in the consolidated accounts up to their date of disposal. In 2000, disposed businesses
principally comprise the European Bakery Supplies Business.
million
2000 1999 1998
Total Total Total
Intangible assets —2—
Fixed assets 276 51 73
Current assets 203 45 46
Creditors (219) (20) (21)
Provisions for liabilities and charges:
Pensions and similar obligations (16) (7) (1)
Deferred taxation (25) (2) (1)
Other provisions (10) —7
Minority interests 89 (15)
Net assets sold 217 78 88
Attributable goodwill 258 38 85
Profit on sale attributable to Unilever 167 18 490
Consideration 642 134 663
Of w hich:
Cash 28 626 123 663
Cash balances of businesses sold 28 11 32
Current investments, cash deposits and borrowings of
businesses sold 24 (2)
Non cash and deferred consideration 34—
In addition, a charge of 859 million w as recognised in respect of the agreed disposal of Elizabeth Arden; this represents the impairment of
goodwill previously w ritten off to reserves.