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Notes to the consolidated financial statements Unilever Group
90 Unilever Annual Report and Accounts 2009
Financial statements
4 Staff and management costs
€ million € million € million
Staff costs 2009 2008 2007
Remuneration of employees (4,162) (4,193) (4,418)
Pensions and other post-employment benefits (256) (329) (321)
Social security costs (610) (627) (646)
Share-based compensation costs (195) (125) (152)
(5,223) (5,274) (5,537)
’000 ’000 ’000
Average number of employees during the year 2009 2008 2007
Asia, Africa and Central & Eastern Europe 98 100 96
The Americas 41 42 44
Western Europe 29 32 35
168 174 175
€ million € million € million
Key management compensation 2009 2008 2007
Salaries and short-term employee benefits (13) (16) (19)
Non-Executive Directors’ fees (2) (2) (2)
Post-employment benefits (2) (5) (2)
Share-based benefits (7) (7) (2)
(24) (30) (25)
Of which:
Executive Directors (7) (16) (12)
Non-Executive Directors (2) (2) (2)
Other (15) (12) (11)
(24) (30) (25)
Key management personnel are defined as the members of UEx and the Non-Executive Directors.
Details of the remuneration of Directors are given in the parts noted as audited in the Directors’ Remuneration Report on pages 67 to 73. See
also note 30 on page 128 for information on related party transactions.
5 Net ffinance costs
€ million € million € million
Finance costs 2009 2008 2007
Finance costs (504) (506) (557)
Bank loans and overdrafts (47) (73) (62)
Bonds and other loans (429) (429) (493)
Dividends paid on preference shares (7) (7) (7)
Preference shares provision ––(7)
Net gain/(loss) on natural hedges(a) (21) 312
On interest rate swaps ––(1)
On foreign exchange derivatives (168) (221) 538
Exchange difference on underlying items 147 224 (525)
Finance income 75 106 147
Pensions and similar obligations(b) (164) 143 158
(593) (257) (252)
(a) For further details on natural hedges please refer to note 15 on pages 107 and 108.
(b) Net finance costs in respect of pensions and similar obligations are analysed in note 19 on page 116.