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106 Unilever Annual Report and Accounts 2010
Financial statements
Notes to the consolidated financial statements Unilever Group
17 Deferred taxation (continued)
Deferred income tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax
liabilities and when the deferred income taxes relate to the same fiscal authority. The following amounts, determined after appropriate offsetting,
are shown in the consolidated balance sheet:
€ million € million € million € million € million € million
Assets Assets Liabilities Liabilities Total Total
Deferred tax assets and liabilities
Pensions and similar obligations
2010
556
2009
674
2010
(116)
2009
(82)
2010
440
2009
592
Provisions 537 556 164 95 701 651
Goodwill and intangible assets (475) (370) (647) (574) (1,122) (944)
Accelerated tax depreciation (238) (302) (302) (223) (540) (525)
Tax losses 71 68 46 14 117 82
Fair value gains (18) (17) (7) (7) (25) (24)
Fair value losses 1 3 12 (1) 13 2
Share-based payments 120 104 – 42 120 146
Other
Of which deferred tax to be recovered/(settled)
after
53
607
22
738
(30)
(880)
(28)
(764)
23
(273)
(6)
(26)
more than 12 months 296 408 (957) (741) (661) (333)
18 Provisions
€ million € million
Provisions 2010 2009
Due within one year 408 420
Due after one year
Total provisions
886
1,294
729
1,149
€ million € million € million € million € million
Disputed
indirect
Movements during 2010
1 January 2010
Restructuring
400
Legal
36
taxes
447
Other
266
Total
1,149
Disposal of group companies – (2) – (4) (6)
Income statement:
New charges 185 138 164 69 556
Releases (73) (2) (71) (28) (174)
Utilisation (233) (6) (20) (53) (312)
Currency translation
31 December 2010
13
292
1
165
60
580
7
257
81
1,294
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,
including a €110 million provision regarding potential competition law infringement in the European Union in relation to consumer detergents. Further
information is given in note 25 on page 116.
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.
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.