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91
15A. Financial assets continued
Financial assets(a)
€ million
Current
2011
€ million
Non-
current
2011
€ million
Total
2011
€ million
Current
2010
€ million
Non-
current
2010
€ million
Total
2010
Cash and cash equivalents
Cash at bank and in hand 1,139 – 1,139 732 – 732
Short-term deposits with maturity of less than 3 months 2,243 – 2,243 888 – 888
Other cash equivalents(b) 102 – 102 696 – 696
3,484 – 3,484 2,316 – 2,316
Other financial assets
Loans and receivables (c) 930 2 932 3 2 5
Available-for-sale financial assets (d) 307 413 720 127 406 533
Financial assets at fair value through profit or loss:
Derivatives 208 – 208 403 – 403
Other 8 63 71 17 103 120
1,453 478 1,931 550 511 1,061
Total 4,937 478 5,415 2,866 511 3,377
(a) For the purposes of notes 15 and 16, financial assets and liabilities exclude trade and other current receivables and liabilities which are covered in notes 13
and 14 respectively.
(b) Other cash equivalents include investments in money market funds of €20 million (2010: €603 million) for which the risk of changes in value are insignificant.
(c) Current loans and receivables include short-term deposits with banks with maturities of longer than three months.
(d) Current available-for-sale financial assets include government securities and A-minus or higher rated money and capital market instruments. Also included
are investments in money market funds of €116 million (2010: € nil) for which the risk of changes in value is insignificant. Non-current available-for-sale
financial assets predominantly consist of investments in a number of companies and financial institutions in Europe and the US, including €110 million
(2010: €128 million) of assets in a trust to fund benefit obligations in the US (see also note 4B on page 77).
Cash and cash equivalents reconciliation to the cash flow statement
€ million
2011
€ million
2010
Cash and cash equivalents per balance sheet 3,484 2,316
Less: bank overdrafts (506) (350)
Cash and cash equivalents per cash flow statement 2,978 1,966
Other income from non-current investments
€ million
2011
€ million
2010
€ million
2009
Income from other non-current investments 76 76 47
Profit on disposal of investments (e) – – 327
76 76 374
(e) For 2009, profit on disposal of investments relates to the disposal of the majority of the Group’s equity interest in JohnsonDiversey.
15B. Financial liabilities
Financial liabilities
Financial liabilities are initially recognised at fair value, less any directly related transaction costs. Certain bonds are designated as
being part of a fair value hedge relationship. In these cases, the bond is carried at amortised cost, adjusted for the fair value of the
risk being hedged, with changes in value shown in profit and loss. Other financial liabilities, excluding derivatives, are subsequently
carried at amortised cost.
Derivative financial instruments
The Group’s use of, and accounting for, derivative instruments is explained in note 16 on page 93 and on page 98.
Unilever Annual Report and Accounts 2011
Financial statements