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Employees (Tables)

12 Months Ended

Dec. 31, 2018

Text block1 [abstract]

Summary of Staff Cost, Average Number of Employees and Key Management Compensation

STAFF AND MANAGEMENT COSTS

Staff costs		€ million 2018				€ million 2017				€ million 2016
Wages and salaries			(5,346	)			(5,416	)			(5,347	)
Social security costs			(571	)			(613	)			(606	)
Other pension costs			(439	)			(399	)			(372	)
Share-based compensation costs			(196	)			(284	)			(198	)
			(6,552	)			(6,712	)			(6,523	)
Average number of employees during the year		’000 2018				’000 2017				’000 2016
Asia/AMET/RUB			88				93				95
The Americas			40				41				42
Europe			30				31				32
			158				165				169
Key management compensation		€million 2018				€ million 2017				€ million 2016
Salaries and short-term employee benefits			(40	)			(34	)			(31	)
Post-employment benefits			—				—				(1	)
Share-based benefits(a)			(19	)			(20	)			(17	)
			(59	)			(54	)			(49	)
Of which: Executive Directors			(15	)			(14	)			(13	)
Other(b)			(44	)			(40	)			(36	)
Non-Executive Directors’ fees			(2	)			(2	)			(2	)
			(61	)			(56	)			(51	)

^(a)  Share-based benefits are shown on a vesting basis.

^(b)  Other includes all members of the Unilever Leadership Executive, other than Executive Directors.

Summary of Assumptions, Weighted by Liabilities for Valuation of Defined Benefit Plans

The following table shows the assumptions, weighted by liabilities, used to value principal defined benefit plans (representing approximately 96% of total pension liabilities and other post-employment benefit liabilities).

		31 December 2018								31 December 2017
		Defined				Other post-				Defined				Other post-
		benefit				employment				benefit				employment
		pension plans				benefit plans				pension plans				benefit plans
Discount rate			2.7	%			4.8	%			2.5	%			4.2	%
Inflation			2.5	%			n/a				2.5	%			n/a
Rate of increase in salaries			2.8	%			3.0	%			2.8	%			3.0	%
Rate of increase for pensions in payment (where provided)			2.4	%			n/a				2.4	%			n/a
Rate of increase for pensions in deferment (where provided)			2.6	%			n/a				2.6	%			n/a
Long-term medical cost inflation			n/a				5.3	%			n/a				5.3	%

The valuations of other post-employment benefit plans generally assume a higher initial level of medical cost inflation, which falls from 7% to the long-term rate within the next five years. Assumed healthcare cost trend rates have a significant effect on the amounts reported for healthcare plans.

For the UK and Netherlands pension plans, representing approximately 68% of all defined benefit pension liabilities, the assumptions used at 31 December 2018 and 2017 were:

		United Kingdom								Netherlands
		2018				2017				2018				2017
Discount rate			2.8	%			2.5	%			1.8	%			1.8	%
Inflation			3.2	%			3.1	%			1.6	%			1.7	%
Rate of increase in salaries			3.1	%			3.0	%			2.1	%			2.2	%
Rate of increase for pensions in payment
(where provided)			3.1	%			3.0	%			1.6	%			1.7	%
Rate of increase for pensions in deferment
(where provided)			3.1	%			3.0	%			1.6	%			1.7	%
Number of years a current pensioner is expected to live beyond age 65:
Men			22.1				22.1				22.5				22.5
Women			24.0				24.0				24.0				24.3
Number of years a future pensioner currently aged 45 is expected to live beyond age 65:
Men			22.7				22.6				24.4				24.6
Women			25.6				25.6				26.1				26.6

Summary of Charge to Operating Profit

The charge to the income statement comprises:

		Notes				€ million 2018				€ million 2017				€ million 2016
Charged to operating profit:
Defined benefit pension and other benefit plans:
Current service cost							(220	)			(245	)			(226	)
Employee contributions							17				18				17
Special termination benefits							(16	)			(4	)			(6	)
Past service cost including (losses)/gains on curtailments							(41	)			23				32
Settlements							—				4				(2	)
Defined contribution plans							(179	)			(195	)			(187	)
Total operating cost			4A				(439	)			(399	)			(372	)
Finance income/(cost)			5				(25	)			(96	)			(94	)
Net impact on the income statement (before tax)							(464	)			(495	)			(466	)

Summary of Amounts Recognised in Statement of Comprehensive Income on Remeasurement of Net Defined Benefit Liability

Amounts recognised in the statement of comprehensive income on the remeasurement of the net defined benefit liability.

		€ million 2018				€ million 2017				€ million 2016
Return on plan assets excluding amounts included in net finance income/(cost)			(1,108	)			1,475				1,877
Actuarial gains/(losses) arising from changes in demographic assumptions			42				222				(217	)
Actuarial gains/(losses) arising from changes in financial assumptions			611				(210	)			(2,963	)
Experience gains/(losses) arising on pension plan and other benefit plan liabilities			18				133				82
Total of defined benefit costs recognised in other comprehensive income			(437	)			1,620				(1,221	)

Summary of Assets, Liabilities and Surplus/ (Deficit) Position of Pension and Other Post-Employment Benefit Plans at Balance Sheet Date

The assets, liabilities and surplus/(deficit) position of the pension and other post-employment benefit plans at the balance sheet date were:

		€ million 2018								€ million 2017
		Pension plans				Other post- employment benefit plans				Pension plans				Other post- employment benefit plans
Fair value of assets			20,867				13				22,361				21
Present value of liabilities			(21,288	)			(466	)			(22,420	)			(523	)
Pension liability net of assets			(421	)			(453	)			(59	)			(502	)
Of which in respect of:
Funded plans in surplus:
Liabilities			(16,182	)			—				(17,132	)			—
Assets			17,909				1				19,302				3
Pension asset net of liabilities			1,727				1				2,170				3
Funded plans in deficit:
Liabilities			(4,149	)			(30	)			(4,267	)			(35	)
Assets			2,958				12				3,059				18
Pension liability net of assets			(1,191	)			(18	)			(1,208	)			(17	)
Unfunded plans:
Pension liability			(957	)			(436	)			(1,021	)			(488	)

Summary of Movements in Assets

Movements in assets during the year:

The group of plans within “Rest of world” category in the tables below are not materially different with respect to their risks that would require disaggregated disclosure.

		UK				Netherlands				Rest of world				€ million 2018 Total				UK				Netherlands				Rest of world				€ million 2017 Total
1 January			11,038				5,357				5,987				22,382				9,963				5,116				6,104				21,183
Employee contributions			—				—				17				17				—				1				17				18
Settlements			—				—				(1	)			(1	)			—				—				(8	)			(8	)
Actual return on plan assets (excluding amounts in net finance income/charge)			(459	)			(303	)			(346	)			(1,108	)			863				275				337				1,475
Interest income			274				95				182				551				270				91				179				540
Employer contributions			95				14				274				383				778				43				284				1,105
Benefit payments			(472	)			(166	)			(561	)			(1,199	)			(457	)			(169	)			(613	)			(1,239	)
Currency retranslation			(147	)			—				12				(135	)			(379	)			—				(312	)			(691	)
Others			—				(1	)			(9	)			(10	)			—				—				(1	)			(1	)
31 December			10,329				4,996				5,555				20,880				11,038				5,357				5,987				22,382

Summary of Movements in Liabilities

Movements in liabilities during the year:

		UK				Netherlands				Rest of world				€ million 2018 Total				UK				Netherlands				Rest of world				€ million 2017 Total
1 January			(10,255	)			(4,913	)			(7,775	)			(22,943	)			(10,981	)			(4,877	)			(8,498	)			(24,356	)
Current service cost			(109	)			(4	)			(107	)			(220	)			(114	)			(6	)			(125	)			(245	)
Employee contributions			—				—				—				—				—				—				—				—
Special termination benefits			—				—				(16	)			(16	)			—				—				(4	)			(4	)
Past service costs including (losses)/gains on curtailments			(46	)			8				(3	)			(41	)			5				12				6				23
Settlements			—				—				1				1				—				—				12				12
Interest cost			(254	)			(87	)			(235	)			(576	)			(286	)			(86	)			(264	)			(636	)
Actuarial gain/(loss) arising from changes in demographic assumptions			—				53				(11	)			42				312				(96	)			6				222
Actuarial gain/(loss) arising from changes in financial assumptions			351				84				176				611				(189	)			—				(21	)			(210	)
Actuarial gain/(loss) arising from experience adjustments			(45	)			37				26				18				144				(37	)			26				133
Benefit payments			472				166				561				1,199				457				169				613				1,239
Currency retranslation			147				—				14				161				397				—				474				871
Others			—				(8	)			18				10				—				8				—				8
31 December			(9,739	)			(4,664	)			(7,351	)			(21,754	)			(10,255	)			(4,913	)			(7,775	)			(22,943	)

Summary of Movements in (Deficit)/Surplus

Movements in (deficit)/surplus during the year:

		UK				Netherlands				Rest of world				€ million 2018 Total				UK				Netherlands				Rest of world				€ million 2017 Total
1 January			783				444				(1,788	)			(561	)			(1,018	)			239				(2,394	)			(3,173	)
Current service cost			(109	)			(4	)			(107	)			(220	)			(114	)			(6	)			(125	)			(245	)
Employee contributions			—				—				17				17				—				1				17				18
Special termination benefits			—				—				(16	)			(16	)			—				—				(4	)			(4	)
Past service costs including (losses)/gains on curtailments			(46	)			8				(3	)			(41	)			5				12				6				23
Settlements			—				—				—				—				—				—				4				4
Actual return on plan assets (excluding amounts in net finance income/charge)			(459	)			(303	)			(346	)			(1,108	)			863				275				337				1,475
Interest cost			(254	)			(87	)			(235	)			(576	)			(286	)			(86	)			(264	)			(636	)
Interest income			274				95				182				551				270				91				179				540
Actuarial gain/(loss) arising from changes in demographic assumptions			—				53				(11	)			42				312				(96	)			6				222
Actuarial gain/(loss) arising from changes in financial assumptions			351				84				176				611				(189	)			—				(21	)			(210	)
Actuarial gain/(loss) arising from experience adjustments			(45	)			37				26				18				144				(37	)			26				133
Employer contributions			95				14				274				383				778				43				284				1,105
Benefit payments			—				—				—				—				—				—				—				—
Currency retranslation			—				—				26				26				18				—				162				180
Others			—				(9	)			9				—				—				8				(1	)			7
31 December			590				332				(1,796	)			(874	)			783				444				(1,788	)			(561	)

Summary of Principal Defined Benefit Liabilities and Split of Liabilities Between Different Categories of Plan Participants

The duration of the principal defined benefit plan liabilities (representing 96% of total pension liabilities and other post-employment benefit liabilities) and the split of liabilities between different categories of plan participants are:

		UK				Netherlands				Rest of world(a)				2018 Total				UK				Netherlands				Rest of world				2017 Total
Duration (years)			17				18				12				7 to 23				17				19				13				8 to 24
Active members			12	%			15	%			21	%			15	%			14	%			22	%			16	%			18	%
Deferred members			33	%			38	%			16	%			29	%			32	%			30	%			15	%			26	%
Retired members			55	%			47	%			63	%			56	%			54	%			48	%			69	%			56	%

^(a) Rest of world numbers shown are weighted averages by liabilities.

Schedule of Fair Value of Plans Assets, Which Are Reported Net of Fund Liabilities That Are Not Employee Benefits

The fair value of plan assets, which are reported net of fund liabilities that are not employee benefits, at the end of the reporting period for each category are as follows:

The group of plans within “Rest of world” category in the tables below are not materially different with respect to their risks that would require disaggregated disclosure.

		€ million																€ million
		31 December 2018																31 December 2017
		UK				Netherlands				Rest of world				2018 Total				UK				Netherlands				Rest of world				2017 Total
Total plan assets			10,329				4,996				5,542				20,867				11,038				5,357				5,966				22,361
Assets
Equities total			3,182				1,594				1,505				6,281				4,538				1,876				1,909				8,323
Europe			731				480				451				1,662				1,093				703				594				2,390
North America			1,723				714				682				3,119				2,320				668				842				3,830
Other			728				400				372				1,500				1,125				505				473				2,103
Fixed income total			4,963				2,595				2,947				10,505				4,210				2,500				2,954				9,664
Government bonds			2,474				769				1,253				4,496				2,162				879				1,376				4,417
Investment grade corporate bonds			984				502				1,167				2,653				1,368				485				1,207				3,060
Other fixed income			1,505				1,324				527				3,356				680				1,136				371				2,187
Private equity			363				82				2				447				401				89				3				493
Property and real estate			852				451				276				1,579				810				411				246				1,467
Hedge funds			663				—				120				783				673				—				297				970
Other			435				293				389				1,117				463				427				274				1,164
Other plans			—				—				312				312				—				—				312				312
Fund liabilities that are not employee benefits
Derivatives			(129	)			(19	)			(9	)			(157	)			(57	)			54				(29	)			(32	)

Schedule of Sensitivity of Pension Liabilities to Changes in the Weighted Key Assumptions

The sensitivity of the overall pension liabilities to changes in the weighted key assumptions are:

						Change in liabilities
		Change in assumption				UK				Netherlands				Total
Discount rate			Increase by 0.5	%			-8	%			-9	%			-7	%
Inflation rate			Increase by 0.5	%			7	%			9	%			6	%
Life expectancy			Increase by 1 year				4	%			4	%			4	%
Long-term medical cost inflation(b)			Increase by 1.0	%			0	%			0	%			2	%

^(b) Long-term medical cost inflation only relates to post-retirement medical plans.

Schedule of Cash Flow in Respect of Pensions and Similar Post-employment Benefits

The table below sets out these amounts:

		€ million				€ million				€ million				€ million
		2019				2018				2017				2016
		Estimate
Company contributions to funded plans:
Defined benefit			230				238				954				355
Defined contributions			185				179				195				187
Benefits paid by the company in respect of unfunded plans:
Defined benefit			150				144				151				157
Group cash flow in respect of pensions and similar benefits			565				561				1,300				699

Schedule of Income Statement Charge

The charge in each of the last three years is shown below, and relates to equity-settled plans:

Income statement charge		€ million 2018				€ million 2017				€ million 2016
Performance share plans			(183	)			(273	)			(185	)
Other plans			(13	)			(11	)			(13	)
			(196	)			(284	)			(198	)

Summary of Status of Performance Share Plans, Related Changes and Share Award Value Information

A summary of the status of the Performance Share Plans as at 31 December 2018, 2017 and 2016 and changes during the years ended on these dates is presented below:

		2018				2017				2016
		Number				Number				Number
		of shares				of shares				of shares
Outstanding at 1 January			13,684,747				14,818,060				15,979,140
Awarded			6,870,882				4,962,345				7,016,274
Vested			(5,854,388	)			(4,723,861	)			(6,983,053	)
Forfeited			(1,066,723	)			(1,371,797	)			(1,194,301	)
Outstanding at 31 December			13,634,518				13,684,747				14,818,060

Share award value information		2018				2017				2016
Fair value per share award during the year		€	42.44			€	42.59			€	35.43

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