Unilever 2006 Annual Report Download - page 87

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84 Unilever Annual Report and Accounts 2006
Financial Statements (continued)
4Staff costs
€million €million € million
Staff costs 2006 2005 2004
Remuneration of employees (4 377) (4 456) (4 378)
Emoluments of Executive Directors (8) (11) (12)
Pensions and other post-employment benefits(a) (132) (384) (445)
Social security costs (718) (702) (660)
Share-based compensation costs (120) (192) (213)
(5 355) (5 745) (5 708)
(a) In 2006 includes gains of €266 million arising from changes in US post-retirement healthcare plans and UK pension plans.
’000 ’000 ’000
Average number of employees during the year 2006 2005 2004
Europe 47 51 53
The Americas 46 46 48
Asia Africa 96 115 126
189 212 227
5Net finance costs
€million €million € million
Finance costs 2006 2005 2004
Finance costs (590) (689) (714)
Bank loans and overdrafts (93) (90) (106)
Bonds and other loans (505) (580) (612)
Dividends paid on preference shares(a) (6) (11) n/a
Exchange gains/(losses) 14 (8) 4
Preference shares provision(b) (300) – –
Finance income 128 129 145
Pensions and similar obligations(c) 41 (53) (54)
(721) (613) (623)
(a) From 1 January 2005, Unilever has adopted IAS 32 ‘Financial Instruments: Disclosure and Presentation’ which requires preference shares
that provide for a fixed preference dividend to be classified as borrowings, and preference dividends to be recognised in the income
statement as a finance cost. In accordance with the transition rules for IAS 32, 2004 comparatives have not been restated.
(b) For further information please refer to note 19 on page 102.
(c) Net finance costs in respect of pensions and similar obligations are analysed in note 20 on page 106.
Notes to the consolidated accounts Unilever Group