Unilever 2012 Annual Report Download - page 123

Download and view the complete annual report

Please find page 123 of the 2012 Unilever annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 153

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153

120 Unilever Annual Report and Accounts 2012Financial statements
NOTES TO THE ONSOLIDATED FINANIAL STATEMENTS UNILEVER ROUP continued
16B Management of market rsk continued
The following table shows the split in fixed and floating rate interest exposures, taking into account the impact of interest rate swaps
and cross currency swaps:
 mllon
2012
€ million
2011
Cash and cash equivalents 2,465 3,484
Current other financial assets 401 1,453
Current financial liabilities (2,656) (5,840)
Non-current financial liabilities (7,565) (7,878)
Net debt (7,355) (8,781)
Of which:
Fixed rate (weighted average amount of fixing for the following year) (7,053) (6,179)
Floating rate (302) (2,602)
(7,355) (8,781)
16 Dervatves and hedgng
The Group does not use derivative financial instruments for speculative purposes. The uses of derivatives and the related values
of derivatives are summarised in the following table:
 mllon
Trade
and other
recevables
 mllon
Other
current
fnancal
assets
 mllon
Trade
payables
and other
labltes
 mllon
urrent
fnancal
labltes
 mllon
Non-
current
fnancal
labltes
 mllon
Total
31 December 2012
Foregn exchange dervatves
Fair value hedges 1 – (5) – – (4)
Cash flow hedges 9 – (13) – – (4)
Hedges of net investments in foreign operations –(126)(a) –(5) –(131)
Hedge accounting not applied 10 222 (16) (57) –159
ross currency swaps
Hedge accounting not applied –38 –(30) (34) (26)
Interest rate swaps
Fair value hedges –36 – – – 36
Cash flow hedges – – (146) – – (146)
Hedge accounting not applied – – – – – –
ommodty contracts
Cash flow hedges 3 – (22) – – (19)
Hedge accounting not applied – – – – – –
23 170 (202) (92) (34) (135)
Total assets 193 Total labltes (328) (135)
31 December 2011
Foregn exchange dervatves
Fair value hedges 9 – (4) ––5
Cash flow hedges 22 –(19) – – 3
Hedges of net investments in foreign operations –18 –(7) –11
Hedge accounting not applied 22 50 (17) (92) –(37)
ross currency swaps
Hedge accounting not applied –31 –(2) (23) 6
Interest rate swaps
Fair value hedges –109 – – – 109
Cash flow hedges – – (27) – – (27)
Hedge accounting not applied – – – – – –
ommodty contracts
Cash flow hedges 4 – (6) – – (2)
Hedge accounting not applied 1 – – – – 1
58 208 (73) (101) (23)
Total assets 266 Total liabilities (197) 69
(a) The offsetting swaps that are used to hedge concern loans are included in other current financial assets under Hedge accounting not applied.