Unilever 2007 Annual Report Download - page 114
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112 Unilever Annual Report and Accounts 2007
Financial statements continued
Notes to the consolidated accounts Unilever Group
25 Commitments and contingent liabilities
€ million € million € million € million € million € million
Future Future
minimum minimum
lease Finance Present lease Finance Present
payments cost value payments cost value
Long-term finance lease commitments 2007 2007 2007 2006 2006 2006
Buildings(a) 410 198 212 137 94 43
Plant and machinery 110 11 99 159 15 144
520 209 311 296 109 187
The commitments fall due as follows:
Within 1 year 82 17 65 71 10 61
Later than 1 year but not later than 5 years 125 59 66 117 25 92
Later than 5 years 313 133 180 108 74 34
520 209 311 296 109 187
(a) All leased land is classified as operating leases.
€ million € million
Long-term operating lease commitments 2007 2006
Land and buildings 1 328 1 257
Plant and machinery 335 360
1 663 1 617
€ million € million € million € million
Other Other
Operating Operating commit- commit-
leases leases ments ments
Operating lease and other commitments fall due as follows 2007 2006 2007 2006
Within 1 year 363 342 646 471
Later than 1 year but not later than 5 years 859 875 955 781
Later than 5 years 441 400 152 528
1 663 1 617 1 753 1 780
The Group has sublet part of the leased properties under operating leases. Future minimum sublease payments are not significant.
Other commitments principally comprise commitments under contracts to purchase materials and services. They do not include commitments
for capital expenditure, which are reported in note 10 on page 88.
The estimated total of our contingent liabilities at 31 December 2007 was €430 million (2006: €439 million). The principal components of the
contingent liabilities relate to legal proceedings, obligations arising under environmental legislation. Guarantees issued by group companies at
31 December 2007 amounted to some €81 million (2006: €105 million), Included in this are discounted trade bills with value of €4 million
(2006: €23 million). No individual contingent liability is significant. The fair value of guarantees is not material in either 2007 or 2006.
We are not involved in any legal or arbitration proceedings which might lead to material loss or expenditure in the context of the Group results.
Similarly we do not have any material obligations under environmental legislation. None of our Directors or Officers is involved in any legal
proceedings which are material as aforesaid. Nonetheless, we give further information on pages 10 and 11 about certain current legal
proceedings.