Unilever 2008 Annual Report Download - page 132
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Notes to the consolidated accounts Unilever Group
Unilever Annual Report and Accounts 2008 129
Financial statements
26 Acquisitions and disposals (continued)
€ million € million € million
Disposals 2008 2007 2006
Goodwill and intangible assets 117 51
Other non-current assets 145 44 242
Current assets 227 117 354
Trade creditors and other payables (61) (48) (157)
Provisions for liabilities and charges (5) (34) (91)
Minority interest –71 –
Net assets sold 423 155 349
(Gain)/loss on recycling of currency retranslation on disposal (6) (1) –
Profit on sale attributable to Unilever 2 237 399 1 528
Consideration(a) 2 654 553 1 877
Cash 2 453 168 1 870
Cash balances of businesses sold (15) (4) –
Financial assets, cash deposits and financial liabilities of businesses sold 15 113 (5)
Non-cash items and deferred consideration(a) 201 276 12
(a) For 2007, includes €214 million fair value economic swap in South Africa.
The results of disposed businesses are included in the consolidated accounts up to their date of disposal.
The following table sets out the effect of acquisitions in 2008, 2007 and 2006 on the consolidated balance sheet. The fair values currently
established for all acquisitions made in 2008 are provisional. The goodwill arising on these transactions has been capitalised and is subject to an
annual review for impairment (or more frequently if necessary) in accordance with our accounting policies as set out in note 1 on pages 84 and
85. Any impairment is charged to the income statement as it arises. Detailed information relating to goodwill is given in note 9 on pages 97
and 98.
€ million € million € million
Acquisitions 2008 2007 2006
Net assets acquired 151 94 42
Goodwill arising in subsidiaries 60 334 60
Consideration 211 428 102
In 2007, consideration consisted of €214 million cash, principally relating to acquisitions of minority interest, and €214 million fair value
economic swap in South Africa.