Unilever 2001 Annual Report Download - page 67

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Unilever Annual Report & Accounts and Form 20-F 2001
NOTES TO THE CONSOLIDATED ACCOUNTS
Unilever Group
>64
6 Taxation on profit on ordinary activities continued
million million million
2001 2000 1999
Taxation on profit on
ordinary activities
Europe:
Parent and group companies
Taxes payable (760) (942) (750)
Deferred taxation (114) 289 128
of which:
Accelerated depreciation 62 116 92
Other (176) 173 36
Joint ventures (6) (5) (4)
(880) (658) (626)
Outside Europe:
Group companies
Taxes payable (642) (722) (782)
Deferred taxation (6) (17) 40
of which:
Accelerated depreciation 25 3 (7)
Other (31) (20) 47
Joint ventures (19) (6) (1)
(667) (745) (743)
Total (1 547) (1 403) (1 369)
7 Combined earnings per share

2001 2000 1999
Per 0.51 share of NV ordinary capital:
Basic earnings per share 1.82 1.07 2.63
Basic earnings per share before
exceptional items and amortisation
of goodwill and intangibles 3.55 3.21 2.83
Diluted earnings per share 1.77 1.05 2.57
Earnings per share on SSAP 15 basis 1.81 1.06 2.60
cents cents cents
2001 2000 1999
Per 1.4p share of PLC ordinary capital:
Basic earnings per share 27.27 16.08 39.48
Basic earnings per share before
exceptional items and amortisation
of goodwill and intangibles 53.29 48.20 42.44
Diluted earnings per share 26.54 15.69 38.50
Earnings per share on SSAP 15 basis 27.10 15.94 39.06
Basis of calculation:
The calculations of combined earnings per share are based on the
net profit attributable to ordinary capital divided by the average
number of share units representing the combined ordinary capital
of NV and PLC in issue during the year, after deducting shares held
to meet Unilever employee share options which are not yet vested.
For the calculation of combined ordinary capital the exchange rate
of £1 = Fl. 12 = 5.445 has been used, in accordance with the
Equalisation Agreement.
Earnings per share before exceptional items and amortisation of
goodwill and intangibles is provided because the directors believe
it better explains the ongoing trends in the Group’s performance.
The calculations of diluted earnings per share are based on
(a) conversion into PLC ordinary shares of the shares in a group
company which are convertible in the year 2038 as described in
Control of Unilever on page 110, and (b) the exercise of share
options, details of which are set out in note 28 on pages 79 to 87.
Calculation of average number of share units:
Millions of 0.51 share units
2001 2000 1999
Average ordinary capital: NV 571.6 571.6 601.7
PLC 436.7 436.7 459.8
less: shares held by employee share
trusts and companies (25.5) (19.1) (16.3)
Combined average number of share
units for all bases except diluted
earnings per share 982.8 989.2 1 045.2
add: shares issuable in 2038 23.6 23.6 23.6
add: shares under option 23.5 17.2 14.3
less: shares issuable at fair value (19.9) (15.7) (11.4)
Adjusted combined average number
of share units for diluted earnings
per share basis 1 010.0 1 014.3 1 071.7
Millions of 1.4p share units
2001 2000 1999
Average ordinary capital: NV 3 810.5 3 810.5 4 011.5
PLC 2 911.5 2 911.5 3 065.0
less: shares held by employee share
trusts and companies (169.7) (127.2) (108.6)
Combined average number of share
units for all bases except diluted
earnings per share 6 552.3 6 594.8 6 967.9
add: shares issuable in 2038 157.5 157.5 157.5
add: shares under option 156.3 114.6 95.1
less: shares issuable at fair value (132.7) (105.1) (75.8)
Adjusted combined average number
of share units for diluted earnings
per share basis 6 733.4 6 761.8 7 144.7
Calculation of net profit:
million million million
2001 2000 1999
Net profit 1 838 1 105 2 771
less: preference dividends (51) (44) (20)
Net profit attributable to ordinary
capital for basic and diluted earnings
per share calculations 1 787 1 061 2 751
add: exceptional items net of tax 334 1 709 185
add: amortisation of goodwill and
intangibles net of tax 1 371 409 21
Net profit attributable before
exceptional items and amortisation 3 492 3 179 2 957
Net profit attributable to ordinary
capital before adjustment 1 787 1 061 2 751
SSAP 15 tax adjustment (11) (10) (28)
Net profit attributable to ordinary
capital on SSAP 15 basis 1 776 1 051 2 723