Unilever 2009 Annual Report Download - page 114

Download and view the complete annual report

Please find page 114 of the 2009 Unilever annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 153

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153

Unilever Annual Report and Accounts 2009 111
17 Deferred taxation
€ million € million € million € million
As at 1 As at 31
January Income(a) December
Movements in 2009 2009 statement Equity(b) 2009
Pensions and similar obligations 809 (206) (11) 592
Provisions 612 (46) 85 651
Goodwill and intangible assets (823) (61) (60) (944)
Accelerated tax depreciation (555) 49 (19) (525)
Tax losses(c) 105 61 (84) 82
Fair value gains (6) – (18) (24)
Fair value losses 40 2 (40) 2
Share-based payments 100 24 22 146
Other (4) 8 (10) (6)
278 (169) (135) (26)
(a) The difference of €24 million between the income statement movement of €(169) million and the income statement charge of €(145) million
as disclosed in note 6 on page 91, is due to a reclassification between deferred and current tax relating to the prior year.
(b) Of the total movement in equity of €(135) million, €59 million arises as a result of currency retranslation and €(29) million as a result of
acquisitions and disposals.
(c) Of the €(84) million movement on Equity €(103) million arises as a result of the federal tax settlement in Brazil. Legislation in Brazil allowed
companies to settle these outstanding tax liabilities by offset against accumulated tax losses. See note 25 on page 122.
€ million € million € million € million
As at 1 As at 31
January Income December
Movements in 2008 2008 statement Equity(a) 2008
Pensions and similar obligations 200 (177) 786 809
Provisions 786 (103) (71) 612
Goodwill and intangible assets (780) (34) (9) (823)
Accelerated tax depreciation (598) (2) 45 (555)
Tax losses 84 (7) 28 105
Fair value gains (8) (5) 7 (6)
Fair value losses 8 (3) 35 40
Share-based payments 101 57 (58) 100
Other (3) – (1) (4)
(210) (274) 762 278
(a) Of the total movement in equity of €762 million, €87 million arises as a result of currency retranslation and €8 million as a result of
acquisitions and disposals.
At the balance sheet date, the Group has unused tax losses of €1,283 million and tax credits amounting to €32 million available for offset
against future taxable profits. Deferred tax assets have not been recognised in respect of unused tax losses of €1,006 million and tax credits
of €32 million, as it is not probable that there will be future taxable profits within the entities against which the losses can be utilised. The
majority of these tax losses and credits arise in tax jurisdictions where they do not expire with the exception of €412 million of state and
federal tax losses in the US which expire between now and 2029.
Other deductible temporary differences of €110 million have not been recognised as a deferred tax asset. There is no expiry date for these
differences.
At the balance sheet date, the aggregate amount of temporary differences associated with undistributed earnings of subsidiaries for which
deferred tax liabilities have not been recognised was €1,319 million (2008: €967 million). No liability has been recognised in respect of these
differences because the Group is in a position to control the timing of the reversal of the temporary differences, and it is probable that such
differences will not reverse in the foreseeable future.