Unilever 2013 Annual Report Download - page 108

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4C. SHARE-BASED COMPENSATION PLANS CONTINUED
2013 2012 2011
Share award value nformaton
Fair value per share award during the year 2891 €25.02 €22.91
ADDITIONAL INFORMATION
At 31 December 2013, shares and options in NV or PLC totalling 14,505,562 (2012: 16,823,830) were held in respect of share-based
compensation plans of NV and its subsidiaries, including North American plans, and 8,820,685 (2012: 9,418,749) were held in respect of
share-based compensation plans of PLC and its subsidiaries.
To satisfy the options granted, certain NV group companies hold 16,615,696 (2012: 23,630,318) ordinary shares of NV or PLC, and trusts
in Jersey and the United Kingdom hold nil (2012: 1,205,856) PLC shares. Shares acquired during 2013 represent 0.012% of the Group’s
called up share capital. The balance of shares held in connection with share plans at 31 December 2013 represented 0.5% (2012:0.8%)
of the Group’s called up share capital.
The book value of €507 million (2012: €619 million) of all shares held in respect of share-based compensation plans for both NV and
PLC is eliminated on consolidation by deduction from other reserves. Their market value at 31 December 2013 was €489million
(2012:€717million).
At 31 December 2013, the exercise price of 192,447 PLC options (NV: nil) were above the market price of the shares. At 31 December
2012, there were no options for which the exercise price was above market price.
Shares held to satisfy options and related trusts are accounted for in accordance with IAS 32 ‘Financial Instruments: Presentation’
andSIC 12 ‘Consolidation of Special Purpose Entities’. All differences between the purchase price of the shares held to satisfy options
granted and the proceeds received for the shares, whether on exercise or lapse, are charged to reserves. The basis of the charge to
operating profit for the economic value of options granted is discussed on page 104.
Between 31 December 2013 and 3 March 2014, 5,934,225 shares were granted and 86,207 shares were forfeited related to the
Performance SharePlans.
5 NET FINANE OSTS
Net finance costs are comprised of finance costs and finance income, including net finance costs in relation to pensions and
similarobligations.
Finance income includes income on cash and cash equivalents and income on other financial assets. Finance costs include interest
costs in relation to financial liabilities.
Borrowing costs which are not capitalised are recognised based on the effective interest method.
Net fnance costs
 mllon
2013
€ million
2012
(Restated)
€ million
2011
(Restated)
Finance costs (500) (526) (540)
Bank loans and overdrafts (36) (69) (59)
Bonds and other loans (457) (451) (472)
Dividends paid on preference shares (4) (4) (5)
Net gain/(loss) on derivatives for which hedge accounting is not applied(a) (3) (2) (4)
On foreign exchange derivatives 368 (19) (379)
Exchange difference on underlying items (371) 17 375
Finance income 103 136 92
Pensions and similar obligations(b) (133) (145) (95)
(530) (535) (543)
(a) For further details of derivatives for which hedge accounting is not applied, please refer to note 16C on page 125.
(b) Net finance costs in respect of pensions and similar obligations are analysed in note 4B on page 101.
105Unlever Annual Report and Accounts 2013 Fnancal statements