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Unilever Annual Report & Accounts and Form 20-F 2003 81
Notes to the consolidated accounts
Unilever Group
1 Segmental information continued
€ million € million € million € million € million € million € million € million
Savoury Spreads and Health & Ice cream
and cooking wellness and and Home Personal Other
Analysis by operation dressings products beverages frozen foods care care operations Total
2001 (restated)
Turnover 9 999 6 771 4 299 7 727 10 467 12 310 633 52 206
Less: Share of turnover of joint ventures (402) (90) (149) – (35) (3) (13) (692)
Group turnover 9 597 6 681 4 150 7 727 10 432 12 307 620 51 514
Group operating profit 744 751 255 386 626 2 135 49 4 946
After charging:
Exceptional items 349 (259) (127) (321) (200) (46) 25 (579)
Amortisation of goodwill
and intangible assets (1 182) (9) (136) (29) (18) (11) (2) (1 387)
Add: Share of operating profit
of joint ventures 21 20 41 – 1 2 (1) 84
Operating profit(e)(f) 765 771 296 386 627 2 137 48 5 030
After charging:
Exceptional items 349 (259) (127) (321) (200) (46) 25 (579)
Amortisation of goodwill
and intangible assets (1 218) (9) (136) (29) (18) (11) (2) (1 423)
ˆ
Net operating assets
2003 15 624 1 949 2 550 2 346 951 1 229 272 24 921
2002 (restated) 17 787 1 823 3 231 2 315 1 308 1 317 406 28 187
(e) Please refer to footnote on page 80.
(f) Please refer to footnote on page 80.
Additional segmental information as required by US GAAP
Segmental information is provided on the following pages in accordance with SFAS 131 on the basis of the product categories described on
page 80.
Unilever has reviewed the extent of its business with major customers. As a result, Unilever has concluded that it has no major customers that
would require separate disclosure during the reporting periods covered by this filing.
For management reporting purposes, Unilever uses a number of measures of segment performance at constant average rates of exchange (that
is, the same rates as in the preceding year). The internal management measure of profit which is most consistent with operating profit reported
in the accounts is ‘Trading Result’. This differs from operating profit, mainly because Trading Result includes a number of other adjustments,
including the application of an inflation charge on working capital which is added back to arrive at operating profit, and certain other statistical
items. Prior to 1 January 2003 these statistical items included the use of replacement cost depreciation of tangible fixed assets. In presenting
results from 1 January 2003 this adjustment has been eliminated as financial depreciation is also used for internal management reporting
purposes. Prior years have been restated onto a comparable basis. The change in internal management reporting has reduced depreciation in
2002 by €220 million and by €248 million in 2001.