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Capital and Funding (Tables)

12 Months Ended

Dec. 31, 2018

Summary of Share Capital

SHARE CAPITAL

		Authorised(a) 2018				Issued, called up and fully paid(b) 2018				Authorised(a) 2017				Issued, called up and fully paid(b) 2017
Unilever N.V.		€ million				€million				€million				€million
NV ordinary shares of €0.16 each			480				274				480				274
NV ordinary shares of €428.57 each (shares numbered 1 to 2,400 –‘Special Shares’)			1				1				1				1
Internal holdings eliminated on consolidation (€428.57 shares)			—				(1	)			—				(1	)
			481				274				481				274

Unilever PLC		£million				€million
PLC ordinary shares of 31/9p each			40.8				40.8
PLC deferred stock of £1 each			0.1				0.1
Internal holding eliminated on consolidation (£1 stock)			(0.1	)			(0.1	)
Cancellation of treasury shares(c)			(3.8	)			—
			37.0				40.8
		€million				€million
Euro equivalent in millions (at £1.00 = €5.143)(d)			190				210
Unilever Group		€million				€million
Ordinary share capital of NV			274				274
Ordinary share capital of PLC			190				210
			464				484

^(a) At 31 December 2018 Unilever N.V. had 3,000,000,000 (2017: 3,000,000,000) authorised ordinary shares. The requirement for a UK company to have an authorised share capital was abolished by the UK Companies Act 2006. In May 2010 Unilever PLC shareholders approved new Articles of Association to reflect this.

^(b) At 31 December 2018 the following quantities of shares were in issue: 1,714,727,700 of NV ordinary shares; 2,400 of NV Special Shares; 1,187,191,284 of PLC ordinary shares and 100,000 of PLC deferred stock. At 31 December 2017, 1,714,727,700 of NV ordinary shares; 2,400 of NV Special Shares; 1,310,156,361 of PLC ordinary shares and 100,000 of PLC deferred stock were in issue.

^(c) At 31 December 2018 122,965,077 of PLC ordinary shares that were repurchased as part of the share buyback programme in 2018 and prior years, were cancelled. And 24,334,848 shares have not been cancelled and are recognised as treasury shares.

^(d) Conversion rate for PLC ordinary shares nominal value to euros is £1 = €5.143 (which is calculated by dividing the nominal value of NV ordinary shares by the nominal value of PLC ordinary shares).

Summary Combined Financial Information in Relation to HUL

Summary financial information in relation to HUL is shown below.

HUL balance sheet as at 31 December		€ million 2018				€ million 2017
Non-current assets			881				819
Current assets			1,333				1,274
Current liabilities			(1,130	)			(1,030	)
Non-current liabilities			(190	)			(135	)
HUL comprehensive income for the year ended 31 December
Turnover			4,527				4,464
Profit after tax			617				595
Total comprehensive income			576				529
HUL cash flow for the year ended 31 December
Net increase/(decrease) in cash and cash-equivalents			14				(71	)
HUL non-controlling interest
1 January			(288	)			(282	)
Share of (profit)/loss for the year ended 31 December			(203	)			(195	)
Other comprehensive income			(4	)			(3	)
Dividend paid to the non-controlling interest			183				172
Other changes in equity			—				—
Currency translation			13				20
31 December			(299	)			(288	)

Summary of Consolidated Statement of Changes in Equity: Analysis of Other Reserves

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY: ANALYSIS OF OTHER RESERVES

		€ million Total 2018				€ million Total 2017				€ million Total 2016
Fair value reserves			(194	)			(189	)			(113	)
Equity instruments(a)			98				—				—
Cash flow hedges			(292	)			(236	)			(168	)
Available-for-sale financial assets			—				47				55
Currency retranslation of group companies – see following table			(4,764	)			(3,927	)			(3,034	)
Adjustment on translation of PLC’s ordinary capital at 31/9p = €0.16			(150	)			(164	)			(164	)
Capital redemption reserve			32				32				32
Book value of treasury shares – see following table			(10,181	)			(9,208	)			(4,164	)
Hedging gains/(losses) transferred to non-financial assets(a)			71				—				—
Other(b)			(100	)			(177	)			—
			(15,286	)			(13,633	)			(7,443	)

^(a) Classification has changed following adoption of IFRS 9. See note 1 for further details.

^(b) Relates to option on purchase of subsidiary for non-controlling interest and hyperinflation adjustment arising on current year profit translated at closing exchange rate.

Summary of Treasury Shares Movements

Treasury shares – movements during the year		€ million 2018				€ million 2017
1 January			(9,208	)			(4,164	)
Repurchase of shares (see note 24)			(6,020	)			(5,014	)
Cancellation of NV and PLC shares			5,055				—
Other purchases and utilisations			(8	)			(30	)
31 December			(10,181	)			(9,208	)

Summary of Currency Retranslation Reserve

Currency retranslation reserve – movements during the year		€ million 2018				€ million 2017
1 January			(3,927	)			(3,034	)
Currency retranslation during the year			(843	)			(50	)
Movement in net investment hedges and exchange differences in net investments in foreign operations			77				(909	)
Recycled to income statement			(71	)			66
31 December			(4,764	)			(3,927	)

Summary of Comprehensive Income: Other Comprehensive Income Reconciliation

STATEMENT OF COMPREHENSIVE INCOME: OTHER COMPREHENSIVE INCOME RECONCILIATION

Fair value gains/(losses) on financial instruments – movement during the year		€ million 2018				€ million 2017
1 January			(189	)			(113	)
Equity instruments			51				—
Cash flow hedges			(55	)			(68	)
Available for sale financial assets			—				(8	)
31 December			(193	)			(189	)

Refer to the consolidated statement of comprehensive income on page 75, the consolidated statement of changes in equity on page 76, and note 6C on page 96.

Remeasurement of defined benefit pension plans net of tax		€ million 2018				€ million 2017
1 January			(1,171	)			(2,453	)
Movement during the year			(328	)			1,282
31 December			(1,499	)			(1,171	)

Refer to the consolidated statement of comprehensive income on page 75, the consolidated statement of changes in equity on page 76, note 4B from page 87 to 92 and note 6C on page 96.

Currency retranslation gains/(losses) – movement during the year		€ million 2018				€ million 2017
1 January			(4,278	)			(3,295	)
Currency retranslation during the year:
Other reserves			(836	)			(903	)
Retained profit			(10	)			(27	)
Non-controlling interest			(15	)			(53	)
31 December			(5,139	)			(4,278	)

Summary of Financial Liabilities

FINANCIAL LIABILITIES

						€ million				€ million				€ million				€ million				€ million				€ million
Financial liabilities(a)		Note				Current 2018				Non- current 2018				Total 2018				Current 2017				Non- current 2017				Total 2017
Bank loans and overdrafts(b)							525				289				814				513				479				992
Bonds and other loans							2,422				20,969				23,391				7,181				15,528				22,709
Finance lease creditors			20				13				115				128				11				120				131
Derivatives							126				276				402				86				335				421
Other financial liabilities(c)							149				1				150				177				—				177
							3,235				21,650				24,885				7,968				16,462				24,430

^(a)For the purposes of this note and note 17A, financial assets and liabilities exclude trade and other current receivables and trade payables and other liabilities which are covered in notes 13 and 14 respectively.

^(b)Financial liabilities include €5 million (2017: €1 million) of secured liabilities.

^(c)Includes options and other financial liabilities to acquire non-controlling interests in EAC Myanmar, refer to note 21.

Reconciliation of Liabilities Arising from Financing Activities

RECONCILIATION OF LIABILITIES ARISING FROM FINANCING ACTIVITIES
										Non-cash movement
Movements in 2018 and 2017		Opening balance at 1 January € million				Cash movement € million				Business acquisitions/ disposals € million				Foreign exchange changes € million				Fair value changes € million				Other movements € million				Closing balance at 31 December € million
2018
Bank loans and overdrafts(a)			(992	)			158				(10	)			17				—				13				(814	)
Bonds and other loans(a)			(22,709	)			(135	)			—				(543	)			—				(4	)			(23,391	)
Finance lease creditors			(131	)			10				—				1				—				(8	)			(128	)
Derivatives			(421	)			—				—				—				19				—				(402	)
Other financial liabilities			(177	)			51				—				10				(4	)			(30	)			(150	)
Total			(24,430	)			84				(10	)			(515	)			15				(29	)			(24,885	)
2017
Preference shares			(68	)			68				—				—				—				—				—
Bank loans and overdrafts(a)			(1,146	)			66				(3	)			98				—				(7	)			(992	)
Bonds and other loans(a)			(15,053	)			(9,008	)			—				1,346				(2	)			8				(22,709	)
Finance lease creditors			(143	)			14				—				6				—				(8	)			(131	)
Derivatives			(185	)			—				—				—				(236	)			—				(421	)
Other financial liabilities(a)			—				—				—				—				—				(177	)			(177	)
Total			(16,595	)			(8,860	)			(3	)			1,450				(238	)			(184	)			(24,430	)

^(a)These cash movements are included within the following lines in the consolidated cash flow statement: net change in short-term liabilities, additional financial liabilities and repayment of financial liabilities. The difference of €2 million (2017: €1 million) represents cash movements in overdrafts that are not included in financing cash flows.

Bonds and Other Loans [Member]

Summary of Analysis of Bonds and Other Loans

ANALYSIS OF BONDS AND OTHER LOANS

		€ million				€ million
		Total 2018				Total 2017
Unilever N.V.
Floating Rate Notes 2018 (€)			—				750
1.625% Notes 2033 (€)			791				—
1.750% Bonds 2020 (€)			749				748
0.500% Notes 2022 (€)			746				744
1.375% Notes 2029 (€)			743				742
1.125% Bonds 2027 (€)			696				—
1.125% Bonds 2028 (€)			693				693
0.875% Notes 2025 (€)			647				646
0.500% Bonds 2025 (€)			642				—
1.375% Notes 2030 (€)			642				—
0.375% Notes 2023 (€)			599				598
1.000% Notes 2027 (€)			598				597
1.000% Notes 2023 (€)			497				497
0.000% Notes 2021 (€)			497				496
0.500% Notes 2023 (€)			497				—
0.500% Notes 2024 (€)			494				493
0.000% Notes 2020 (€)			300				299
Commercial paper			—				3,655
Total NV			9,831				10,958
Unilever PLC
1.125% Notes 2022 (£)			386				390
2.000% Notes 2018 (£)(a)			—				283
1.375% Notes 2024 (£)			276				280
1.875% Notes 2029 (£)			274				278
Total PLC			936				1,231
Other group companies
Switzerland
Other			10				6
United States
4.250% Notes 2021 ($)			873				834
5.900% Bonds 2032 ($)			865				826
2.900% Notes 2027 ($)			860				821
2.200% Notes 2022 ($)			738				704
1.800% Notes 2020 ($)			698				666
3.500% Notes 2028 ($)			687				—
4.800% Bonds 2019 ($)			656				627
2.200% Notes 2019 ($)			655				625
2.000% Notes 2026 ($)			602				575
1.375% Notes 2021 ($)			478				456
3.125% Notes 2023 ($)			477				—
2.100% Notes 2020 ($)			436				416
3.000% Notes 2022 ($)			434				—
3.250% Notes 2024 ($)			433				—
3.100% Notes 2025 ($)			432				413
2.600% Notes 2024 ($)			432				413
3.500% Bonds 2028 ($)			431				—
2.750% Bonds 2021 ($)			348				—
3.375% Notes 2025 ($)			302				—
7.250% Bonds 2026 ($)			254				243
6.625% Bonds 2028 ($)			200				190
5.150% Notes 2020 ($)			134				129
5.600% Bonds 2097 ($)			80				76
Commercial paper ($)			1,070				2,421
Other countries			39				79
Total other group companies			12,624				10,520
Total bonds and other loans			23,391				22,709

^(a)  Of which €Nil (2017: €2 million) relates to a fair value adjustment following the fair value hedge accounting of a fixed-for-floating interest rate swap.

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