Unilever 2010 Annual Report Download - page 118

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Unilever Annual Report and Accounts 2010 115
Financial statements
25 Commitments and contingent liabilities
Long-term finance lease
commitments
€ million
Future
minimum
lease
payments
2010
€ million
Finance
cost
2010
€ million
Present
value
2010
€ million
Future
minimum
lease
payments
2009
€ million
Finance
cost
2009
€ million
Present
value
2009
(a)
Buildings
Plant and machinery
The commitments fall due as follows:
Within 1 year
Later than 1 year but not later than 5
Later than 5 years
years
336
21
148
1
188
20
340
29
156
1
184
28
357
31
94
232
149
12
47
90
208
19
47
142
369
34
91
244
157
12
46
99
212
22
45
145
357 149 208 369 157 212
(a) All leased land is classified as operating leases.
The Group has not sublet any part of the leased properties under finance leases.
€ million € million
Long-term operating lease commitments 2010 2009
Land and buildings 1,243 1,240
Plant
and machinery
357
1,600
248
1,488
€ million € million € million € million
Other Other
Operating Operating commit- commit-
leases leases ments ments
Operating lease and other commitments fall due as follows 2010 2009 2010 2009
Within 1 year 364 301 1,181 884
Later than 1 year but not later than 5 years 844 782 1,632 1,328
Later than 5 years
392
1,600
405 141 164
1,488 2,954 2,376
The Group has sublet part of the leased properties under operating leases. Future minimum sublease payments of €57 million are expected to
bereceived.
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 89.
Contingent liabilities are either possible obligations that will probably not require a transfer of economic benefits, or present obligations that may,
but probably will not, require a transfer of economic benefits. It is not appropriate to make provisions for contingent liabilities, but there isa chance
that they will result in an obligation in the future. The Group does not believe that any of these contingent liabilities will result in a material loss.
Contingent liabilities arise in respect of litigation against group companies, investigations by competition, regulatory and fiscal authorities and
obligations arising under environmental legislation. The estimated total of such contingent liabilities at 31 December 2010 was some €228 million
(2009: €205 million).