Unilever 2012 Annual Report Download - page 112

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ABOUT UNILEVER GOVERNANCE FINANCIAL STATEMENTS SHAREHOLDER INFORMATION
109Unilever Annual Report and Accounts 2012 Financial statements
11 Other non-current assets11 Other non-current assets
Joint ventures are undertakings in which the Group has an interest and which are jointly controlled by the Group and one or more
other parties. Associates are undertakings where the Group has an investment in which it does not have control or joint control
but can exercise significant influence.
Interests in joint ventures and associates are accounted for using the equity method and are stated in the consolidated balance
sheet at cost, adjusted for the movement in the Group’s share of their net assets and liabilities. The Group’s share of the profit
or loss after tax of joint ventures and associates is included in the Group’s consolidated profit before taxation.
Where the Group’s share of losses exceeds its interest in the equity accounted investee, the carrying amount of the investment
is reduced to zero and the recognition of further losses is discontinued, except to the extent that the Group has an obligation
to make payments on behalf ofthe investee.
Biological assets are measured at fair value less costs to sell with any changes recognised in the income statement.
 mllon
2012
€ million
2011
Interest in net assets of joint ventures 32 48
Interest in net assets of associates 51 45
Long-term trade and other receivables 172 171
Fair value of biological assets 29 32
Other non-financial assets(a) 252 336
536 632
(a) Other non-financial assets mainly relate to tax deposits paid.
Movements durng 2012 and 2011
 mllon
2012
€ million
2011
Jont ventures(b)
1 January 48 44
Additions – 10
Dividends received/reductions (131) (125)
Share of net profit 107 113
Currency retranslation 8 6
31 December 32 48
Assocates(c)
1 January 45 45
Additions 7 2
Dividends received/reductions – (3)
Share of net profit (2) –
Currency retranslation 1 1
31 December 51 45
(b) Our principal joint ventures are Unilever Jerónimo Martins in Portugal, Pepsi Lipton International and the Pepsi/Lipton Partnership in the US.
(c) Associates as at 31 December 2012 primarily comprise our investments in Langholm Capital Partners. Other Unilever Ventures assets are included under
‘Other non-current non-financial assets’.
The joint ventures and associates have no significant contingent liabilities to which the Group is exposed, and the Group has
no significant contingent liabilities in relation to its interest in the joint ventures and associates.
The Group has no outstanding capital commitments to joint ventures.
Outstanding balances with joint ventures and associates are shown in note 23 on page 128.
Other ncome from non-current nvestments
 mllon
2012
 mllon
2011
 mllon
2010
Income from other non-current investments (14) 76 76