Guarantor statements (Audited) | Guarantor statements (Audited ) On 27 July 2017, Unilever N.V. and Unilever Capital Corporation (UCC) filed a US Shelf registration, which is unconditionally and fully guaranteed, jointly and severally, by Unilever N.V., Unilever PLC and Unilever United States, Inc. (UNUS) and that superseded the NV and UCC US Shelf registration filed on 30 September 2014, which was unconditionally and fully guaranteed, jointly and severally, by NV, PLC and UNUS. UCC and UNUS are each indirectly 100% owned by the Unilever parent entities (as defined below). Of the US Shelf registration, $12.35 billion of Notes were outstanding at 31 December 2019 (2018: $12.5 billion; 2017: $8.9 billion) with coupons ranging from 1.375% to 5.9%. These Notes are repayable between 5 May 2020 and 15 November 2032. Provided below are the income statements, cash flow statements and balance sheets of each of the companies discussed above, together with the income statement, cash flow statement and balance sheet of non-guarantor non-guarantor € million € million € million € million € million € million Income statement for the year ended 31 December 2019 Unilever Unilever (a) Unilever Non- Eliminations Unilever Turnover (b) — — — 51,980 — 51,980 Operating profit — 1,148 1 7,559 — 8,708 Net finance income/(costs) 2 (89 ) (492 ) (18 ) — (597 ) Pensions and similar obligations — (2 ) (22 ) (6 ) — (30 ) Other income/(losses) — — — 176 — 176 Net monetary gain arising from hyperinflationary economies — — — 32 — 32 Profit before taxation 2 1,057 (513 ) 7,743 — 8,289 Taxation — (169 ) — (2,094 ) — (2,263 ) Net profit before subsidiaries 2 888 (513 ) 5,649 — 6,026 Equity earnings of subsidiaries — 4,737 1,193 (7,026 ) 1,096 — Net profit 2 5,625 680 (1,377 ) 1,096 6,026 Attributable to: Non-controlling — — — 401 — 401 Shareholders’ equity 2 5,625 680 (1,778 ) 1,096 5,625 Other comprehensive income — (5 ) 13 535 — 543 Total comprehensive income 2 5,620 693 (842 ) 1,096 6,569 (a) The term ‘Unilever parent entities’ includes Unilever N.V. and Unilever PLC. Though Unilever N.V. and Unilever PLC are separate legal entities, with different shareholder constituencies and separate stock exchange listings, they operate as nearly as practicable as a single economic entity. Debt securities issued by entities in the Unilever Group are fully and unconditionally guaranteed by both Unilever N.V. and Unilever PLC. (b) For the purpose of this table, amounts exclude revenue from Group companies. € million € million € million € million € million € million Income statement for the year ended 31 December 2018 (b) Unilever Unilever (a) Unilever subsidiary Non- Eliminations Unilever Turnover ( c — — — 50,982 — 50,982 Operating profit — 1,987 (4 ) 10,656 — 12,639 Net finance income/(costs) — (105 ) (426 ) (52 ) — (583 ) Pensions and similar obligations — (2 ) (19 ) (4 ) — (25 ) Other income/(losses) — — — 207 — 207 Premium paid on buyback of preference shares — (382 ) — 382 — — Net monetary gain arising from hyperinflationary economies — — — 122 — 122 Profit before taxation — 1,498 (449 ) 11,311 — 12,360 Taxation — (199 ) — (2,373 ) — (2,572 ) Net profit before subsidiaries — 1,299 (449 ) 8,938 — 9,788 Equity earnings of subsidiaries — 8,070 1,787 (20,326 ) 10,469 — Net profit — 9,369 1,338 (11,388 ) 10,469 9,788 Attributable to: Non-controlling — — — 419 — 419 Shareholders’ equity — 9,369 1,338 (11,807 ) 10,469 9,369 Other comprehensive income — (24 ) 25 (1,172 ) — (1,171 ) Total comprehensive income — 9,345 1,363 (12,560 ) 10,469 8,617 € million € million € million € million € million € million Income statement for the year ended 31 December 2017 (b) Unilever Unilever (a) Unilever subsidiary Non- Eliminations Unilever Turnover ( c — — — 53,715 — 53,715 Operating profit — 999 (4 ) 7,962 — 8,957 Net finance income/(costs) 1 (110 ) (379 ) (38 ) — (526 ) Pensions and similar obligations — (2 ) (24 ) (70 ) — (96 ) Other income/(losses) — — — 173 — 173 Premium paid on buyback of preference shares — — — (382 ) — (382 ) Profit before taxation 1 887 (407 ) 7,645 — 8,126 Taxation — (165 ) — (1,505 ) — (1,670 ) Net profit before subsidiaries 1 722 (407 ) 6,140 — 6,456 Equity earnings of subsidiaries — 5,301 1,716 (10,298 ) 3,281 — Net profit 1 6,023 1,309 (4,158 ) 3,281 6,456 Attributable to: Non-controlling — — — 433 — 433 Shareholders’ equity 1 6,023 1,309 (4,591 ) 3,281 6,023 Other comprehensive income — (75 ) (156 ) 503 — 272 Total comprehensive income 1 5,948 1,153 (3,655 ) 3,281 6,728 (a) The term ‘Unilever parent entities’ includes Unilever N.V. and Unilever PLC. Though Unilever N.V. and Unilever PLC are separate legal entities, with different shareholder constituencies and separate stock exchange listings, they operate as nearly as practicable as a single economic entity. Debt securities issued by entities in the Unilever Group are fully and unconditionally guaranteed by both Unilever N.V. and Unilever PLC. (b) Restated following adoption of IFRS 16. See note 1 and note 24 for further details. (c) For the purpose of these tables, amounts exclude revenue from Group companies. € million € million € million € million € million € million Balance sheet at 31 December 2019 Unilever Unilever (a) Unilever States Inc. subsidiary guarantor Non- Eliminations Unilever Assets Non-current Goodwill and intangible assets — 3,141 — 27,888 — 31,029 Deferred tax assets — — — 1,336 — 1,336 Other non-current — 2 1 16,008 — 16,011 Amounts due from group companies 15,335 10,602 — — (25,937 ) — Net assets of subsidiaries (equity accounted) — 21,193 24,514 — (45,707 ) — 15,335 34,938 24,515 45,232 (71,644 ) 48,376 Current assets Amounts due from group companies — 15,257 822 28,799 (44,878 ) — Trade and other current receivables — 153 7 6,535 — 6,695 Current tax assets — 18 — 379 — 397 Other current assets 81 — — 9,257 — 9,338 81 15,428 829 44,970 (44,878 ) 16,430 Total assets 15,416 50,366 25,344 90,202 (116,522 ) 64,806 Liabilities Current liabilities Financial liabilities 2,435 1,049 — 1,207 — 4,691 Amounts due to group companies 2,775 24,469 1,555 16,079 (44,878 ) — Trade payables and other current liabilities 89 356 16 14,307 — 14,768 Current tax liabilities — — 9 889 — 898 Other current liabilities — — 5 616 — 621 5,299 25,874 1,585 33,098 (44,878 ) 20,978 Non-current Financial liabilities 9,789 11,009 — 2,768 — 23,566 Amounts due to group companies — — 11,325 14,612 (25,937 ) — Pensions and post-retirement healthcare liabilities: Funded schemes in deficit — 2 127 1,028 — 1,157 Unfunded schemes — 83 376 1,002 — 1,461 Other non-current — 325 6 3,427 — 3,758 9,789 11,419 11,834 22,837 (25,937 ) 29,942 Total liabilities 15,088 37,293 13,419 55,935 (70,815 ) 50,920 Shareholders’ equity 328 13,073 11,925 33,573 (45,707 ) 13,192 Non-controlling — — — 694 — 694 Total equity 328 13,073 11,925 34,267 (45,707 ) 13,886 Total liabilities and equity 15,416 50,366 25,344 90,202 (116,522 ) 64,806 (a) The term ‘Unilever parent entities’ includes Unilever N.V. and Unilever PLC. Though Unilever N.V. and Unilever PLC are separate legal entities, with different shareholder constituencies and separate stock exchange listings, they operate as nearly as practicable as a single economic entity. Debt securities issued by entities in the Unilever Group are fully and unconditionally guaranteed by both Unilever N.V. and Unilever PLC. (b) Restated following adoption of IFRS 16. See note 1 and note 24 for further details. € million € million € million € million € million € million Balance sheet at 31 December 2018 (b) Unilever Unilever Unilever States Inc. subsidiary guarantor Non- Eliminations Unilever Assets Non-current Goodwill and intangible assets — 3,058 — 26,435 — 29,493 Deferred tax assets — — 13 1,139 — 1,152 Other non-current — 43 2 14,943 — 14,988 Amounts due from group companies 17,211 10,379 — — (27,590 ) — Net assets of subsidiaries (equity accounted) — 22,125 22,427 — (44,552 ) — 17,211 35,605 22,442 42,517 (72,142 ) 45,633 Current assets Amounts due from group companies — 11,883 5,413 33,032 (50,328 ) — Trade and other current receivables — 156 4 6,322 — 6,482 Current tax assets — 15 — 457 — 472 Other current assets 6 7 — 8,511 — 8,524 6 12,061 5,417 48,322 (50,328 ) 15,478 Total assets 17,217 47,666 27,859 90,839 (122,470 ) 61,111 Liabilities Current liabilities Financial liabilities 2,381 35 2 1,195 — 3,613 Amounts due to group companies 4,895 25,010 3,127 17,296 (50,328 ) — Trade payables and other current liabilities 96 327 15 14,019 — 14,457 Current tax liabilities — — 72 1,373 — 1,445 Other current liabilities — 2 — 633 — 635 7,372 25,374 3,216 34,516 (50,328 ) 20,150 Non-current Financial liabilities 9,525 10,787 — 2,813 — 23,125 Amounts due to group companies — — 13,290 14,300 (27,590 ) — Pensions and post-retirement healthcare liabilities: Funded schemes in deficit — 7 136 1,066 — 1,209 Unfunded schemes — 87 388 918 — 1,393 Other non-current — 141 1 2,975 — 3,117 9,525 11,022 13,815 22,072 (27,590 ) 28,844 Total liabilities 16,897 36,396 17,031 56,588 (77,918 ) 48,994 Shareholders’ equity 320 11,270 10,828 33,531 (44,552 ) 11,397 Non-controlling — — — 720 — 720 Total equity 320 11,270 10,828 34,251 (44,552 ) 12,117 Total liabilities and equity 17,217 47,666 27,859 90,839 (122,470 ) 61,111 (a) The term ‘Unilever parent entities’ includes Unilever N.V. and Unilever PLC. Though Unilever N.V. and Unilever PLC are separate legal entities, with different shareholder constituencies and separate stock exchange listings, they operate as nearly as practicable as a single economic entity. Debt securities issued by entities in the Unilever Group are fully and unconditionally guaranteed by both Unilever N.V. and Unilever PLC. (b) Restated following adoption of IFRS 16. See note 1 and note 24 for further details. € million € million € million € million € million € million Balance sheet at 1 January 2018 (b) Unilever Unilever Unilever States Inc. subsidiary guarantor Non- Eliminations Unilever Assets Non-current Goodwill and intangible assets — 2,143 — 26,258 — 28,401 Deferred tax assets — 90 57 971 — 1,118 Other non-current — 33 2 15,524 — 15,559 Amounts due from group companies 17,132 7,099 — — (24,231 ) — Net assets of subsidiaries (equity accounted) — 35,744 21,532 — (57,276 ) — 17,132 45,109 21,591 42,753 (81,507 ) 45,078 Current assets Amounts due from group companies — 6,119 5,318 32,445 (43,882 ) — Trade and other current receivables — 51 3 5,165 — 5,219 Current tax assets — 57 9 422 — 488 Other current assets — 39 — 11,234 — 11,273 — 6,266 5,330 49,266 (43,882 ) 16,980 Total assets 17,132 51,375 26,921 92,019 (125,389 ) 62,058 Liabilities Current liabilities Financial liabilities 2,420 4,690 1 1,267 — 8,378 Amounts due to group companies 6,964 25,457 24 11,437 (43,882 ) — Trade payables and other current liabilities 65 215 11 13,135 — 13,426 Current tax liabilities — — — 1,088 — 1,088 Other current liabilities — 5 — 690 — 695 9,449 30,367 36 27,617 (43,882 ) 23,587 Non-current Financial liabilities 7,377 7,594 — 3,068 — 18,039 Amounts due to group companies — — 14,517 9,714 (24,231 ) — Pensions and post-retirement healthcare liabilities: Funded schemes in deficit — 8 103 1,114 — 1,225 Unfunded schemes — 93 439 977 — 1,509 Other non-current — 5 1 3,494 — 3,500 7,377 7,700 15,060 18,367 (24,231 ) 24,273 Total liabilities 16,826 38,067 15,096 45,984 (68,113 ) 47,860 Shareholders’ equity 306 13,308 11,825 45,277 (57,276 ) 13,440 Non-controlling — — — 758 — 758 Total equity 306 13,308 11,825 46,035 (57,276 ) 14,198 Total liabilities and equity 17,132 51,375 26,921 92,019 (125,389 ) 62,058 (a) The term ‘Unilever parent entities’ includes Unilever N.V. and Unilever PLC. Though Unilever N.V. and Unilever PLC are separate legal entities, with different shareholder constituencies and separate stock exchange listings, they operate as nearly as practicable as a single economic entity. Debt securities issued by entities in the Unilever Group are fully and unconditionally guaranteed by both Unilever N.V. and Unilever PLC. (b) Restated following adoption of IFRS 16. See note 1 and note 24 for further details. € million € million € million € million € million € million Cash flow statement for the year ended 31 December 2019 Unilever Unilever (a) Unilever subsidiary guarantor Non- Eliminations Unilever Net cash flow from/(used in) operating activities 1 1,127 (21 ) 7,002 — 8,109 Net cash flow from/(used in) investing activities 2,681 (1,887 ) 4,378 (4,720 ) (2,689 ) (2,237 ) Net cash flow from/(used in) financing activities (2,613 ) 768 (4,357 ) (1,154 ) 2,689 (4,667 ) Net increase/(decrease) in cash and cash equivalents 69 8 — 1,128 — 1,205 Cash and cash equivalents at beginning of year 6 7 (1 ) 3,078 — 3,090 Effect of foreign exchange rates 5 (15 ) — (169 ) — (179 ) Cash and cash equivalents at end of year 80 — (1 ) 4,037 — 4,116 € million € million € million € million € million € million Cash flow statement for the year ended 31 December 2018 (b) Unilever Unilever (a) Unilever States Inc. subsidiary Non- Eliminations Unilever Net cash flow from/(used in) operating activities — 952 (6 ) 6,372 — 7,318 Net cash flow from/(used in) investing activities 1,088 1,196 (63 ) 4,619 (2,196 ) 4,644 Net cash flow from/(used in) financing activities (1,097 ) (2,190 ) 69 (11,091 ) 2,196 (12,113 ) Net increase/(decrease) in cash and cash equivalents (9 ) (42 ) — (100 ) — (151 ) Cash and cash equivalents at beginning of year — 23 (1 ) 3,147 — 3,169 Effect of foreign exchange rates 15 26 — 31 — 72 Cash and cash equivalents at end of year 6 7 (1 ) 3,078 — 3,090 € million € million € million € million € million € million Cash flow statement for the year ended 31 December 2017 (b) Unilever Unilever (a) Unilever States Inc. subsidiary Non- Eliminations Unilever Net cash flow from/(used in) operating activities — 948 (40 ) 6,971 — 7,879 Net cash flow from/(used in) investing activities (3,884 ) (7,123 ) (1,062 ) 5,136 1,054 (5,879 ) Net cash flow from/(used in) financing activities 3,873 6,254 1,103 (12,196 ) (1,054 ) (2,020 ) Net increase/(decrease) in cash and cash equivalents (11 ) 79 1 (89 ) — (20 ) Cash and cash equivalents at beginning of year — 5 (2 ) 3,195 — 3,198 Effect of foreign exchange rates 11 (61 ) — 41 — (9 ) Cash and cash equivalents at end of year — 23 (1 ) 3,147 — 3,169 (a) The term ‘Unilever parent entities’ includes Unilever N.V. and Unilever PLC. Though Unilever N.V. and Unilever PLC are separate legal entities, with different shareholder constituencies and separate stock exchange listings, they operate as nearly as practicable as a single economic entity. Debt securities issued by entities in the Unilever Group are fully and unconditionally guaranteed by both Unilever N.V. and Unilever PLC. (b) Restated following adoption of IFRS 16. See note 1 and note 24 for further details. |