Unilever 2013 Annual Report Download - page 135

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21 AQUISITIONS AND DISPOSALS CONTINUED
2012
On 30 July 2012, the Group announced a definitive agreement to sell its North American frozen meals business to ConAgra Foods, Inc.
for a total cash consideration of US $265 million. The deal was completed on 19 August 2012.
Further to the acquisition in December 2011, the Group acquired the remaining 18% of the outstanding share capital in Concern Kalina.
The table below shows the impact of disposals on the Group during the year. The results of disposed businesses are included in the
consolidated financial statements up to their date of disposal.
Dsposals
 mllon
2013
€ million
2012
€ million
2011
Goodwill and intangible assets 189 29 1,058
Other non-current assets 43 35 81
Current assets 59 38 145
Trade creditors and other payables (8) (2) (57)
Provisions for liabilities and charges –– (12)
Net assets sold 283 100 1,215
(Gain)/loss on recycling of currency retranslation on disposal –– (61)
Profit on sale attributable to Unilever 733 117 221
Consideration 1,016 217 1,375
Cash 1,030 229 1,404
Cash balances of businesses sold ––(2)
Financial assets, cash deposits and financial liabilities of businesses sold –(9) (6)
Non-cash items and deferred consideration (14) (3) (21)
The following table sets out the effect of acquisitions in 2013, 2012 and 2011 on the consolidated balance sheet. The fair values currently
established for all acquisitions made in 2013 are provisional. The goodwill arising on these transactions has been capitalised and is subject
to an annual review for impairment (or more frequently if necessary) in accordance with our accounting policies as set out in note 9 on
page 109. Any impairment is charged to the income statement as it arises. Detailed information relating to goodwill is given in note 9 on
pages 109 to 111.
Acqustons
 mllon
2013
€ million
2012
€ million
2011
Net assets acquired 55 10 1,733
Goodwill arising in subsidiaries 62 10 1,677
Consideration 117 20 3,410
22 ASSETS AND LIABILITIES HELD FOR SALE
Non-current assets and groups of assets and liabilities which comprise disposal groups are classified as ‘held for sale’ when all of
the following criteria are met: a decision has been made to sell; the assets are available for sale immediately; the assets are being
actively marketed; and a sale has been agreed or is expected to be concluded within 12 months of the balance sheet date.
Immediately prior to classification as held for sale, the assets or groups of assets are remeasured in accordance with the Group’s
accounting policies. Subsequently, assets and disposal groups classified as held for sale are valued at the lower of book value or fair
value less disposal costs. Assets held for sale are not depreciated.
 mllon
2013
€ million
2012
roups of assets held for sale
Goodwill and intangibles 3114
Property, plant and equipment 24 28
Inventories 126
Trade and other receivables 111
Other 3–
32 179
Non-current assets held for sale
Property, plant and equipment 60 13
Labltes held for sale
Liabilities associated with assets held for sale 41
132 Unlever Annual Report and Accounts 2013Fnancal statements
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
UNILEVER GROUP CONTINUED