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102 Unilever Annual Report and Accounts 2007
Financial statements continued
Notes to the consolidated accounts Unilever Group
18 Trade payables and other liabilities
€ million € million
Trade and other payables 2007 2006
Due within one year
Trade payables 3 690 3 833
Accruals 2 970 2 706
Social security and sundry taxes 374 386
Others 983 913
8 017 7 838
Due after more than one year
Accruals 138 185
Others 66 76
204 261
Total trade payables and other liabilities 8 221 8 099
The amounts shown above do not include any creditors due after more than five years. Trade payables and other liabilities are valued at historic
cost, which where appropriate, approximates their amortised cost.
19 Provisions
€ million € million
Provisions 2007 2006
Due within one year
Restructuring provisions 518 439
Preference shares provision 3300
Disputed indirect taxes 269 –
Other provisions 178 270
968 1 009
Due after one year
Restructuring provisions 63 53
Legal provisions 55 51
Disputed indirect taxes 422 560
Net liability of associate 30 34
Other provisions 124 128
694 826
Total restructuring and other provisions 1 662 1 835
€ million € million € million € million € million € million € million
Preference
Restructuring Legal shares Disputed Net liability Other
Movements during 2007 provisions provisions provision indirect taxes of associate provisions Total
1 January 2007 492 51 300 560 34 398 1 835
Disposal of group companies 3––––(37) (34)
Income statement:
New charges 457 19 15 161 – 29 681
Releases (43) (2) (8) (61) – (59) (173)
Utilisation (312) (10) (304) (11) – (22) (659)
Currency retranslation (16) (3) – 42 (4) (7) 12
31 December 2007 581 55 3 691 30 302 1 662
Restructuring provisions primarily relate to early retirement and redundancy costs, the most significant of which relate to the formation of new
multi-country organisations and several factory closures; no projects are individually material. Legal provisions are comprised of many claims, of
which none is individually material.
The provision for disputed indirect taxes is comprised of a number of small disputed items. The largest elements of the provision relate to
disputes with the Brazilian authorities. Because of the nature of the disputes, the timing of the utilisation of the provisions, and any associated
cash outflows, is uncertain. The majority of the disputed items attract an interest charge. For further information please refer to page 11.
No individual item within the other provisions balance is significant. Unilever expects that the issues relating to these restructuring, legal and
other provisions will be substantively resolved over the next five years.