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120 Unilever Annual Report and Accounts 2010
Financial statements
Notes to the consolidated financial statements Unilever Group
27 Assets held for sale
€ million € million
2010 2009
Disposal group held for sale on acquisition
Assets 657 –
iabilitiesL
ther disposalO groups held for sale
(57)
600
–
–
Goodwill and intangibles 82 –
roperty,P plant and equipment 63 7
nventoriesI 53 1
radeT and other receivables
on-current assets held for saleN
1
199
–
8
roperty,P plant and equipment
20
20
9
9
On 6 December 2010, the Group acquired the Sanex brand as part of the acquisition of Sara Lee’s Personal Care business. The European
Competition Authority’s approval of the acquisition was contingent on the divestiture of the Sanex brand in the European Economic Area. The
divestiture will be completed during 2011.
28 Reconciliation of net profit to cash flow from operating activities
€ million € million € million
Cash flow from operating activities 2010 2009 2008
Net profit 4,598 3,659 5,285
Taxation 1,534 1,257 1,844
Share of net profit of joint ventures/associates and other income from non-current investments (187) (489) (219)
Net finance costs: 394 593 257
Finance income (77) (75) (106)
Finance cost 491 504 506
Pensions and similar obligations (20) 164 (143)
Operating profit 6,339 5,020 7,167
Depreciation, amortisation and impairment 993 1,032 1,003
Changes in working capital: 169 1,701 (161)
Inventories (573) 473 (345)
Trade and other current receivables (343) 640 (248)
Trade payables and other current liabilities 1,085 588 432
Pensions and similar provisions less payments (472) (1,028) (502)
Provisions less payments 72 (258) (62)
Elimination of (profits)/losses on disposals (476) 13 (2,259)
Non-cash charge for share-based compensation 144 195 125
Other adjustments 49 58 15
Cash flow from operating activities 6,818 6,733 5,326
The cash flows of pension funds (other than contributions and other direct payments made by the Group in respect of pensions and similar
obligations) are not included in the Group cash flow statement.