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Goodwill and Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2020
Text Block [Abstract] |
Summary of Movements in Goodwill and Intangible Assets |
|  | € million |  |  | € million |  |  | € million |  |  | € million |  |  | € million |
|  |  |  |  |  |  |  | Finite-life intangible assets |  |  |  |
Movements during 2020 |  | Goodwill |  |  | Indefinite-life intangible assets |  |  | Software |  |  | Other |  |  | Total |
Cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1 January 2020 |  |  | 19,246 |  |  |  | 12,121 |  |  |  | 2,991 |  |  |  | 1,161 |  |  |  | 35,519 |
Additions through business combinations (a) |  |  | 2,407 |  |  |  | 4,244 |  |  |  | — |  |  |  | (31 | ) |  |  | 6,620 |
Disposal of businesses |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1 | )
Additions |  |  | — |  |  |  | — |  |  |  | 156 |  |  |  | 2 |  |  |  | 158 |
Disposals and other movements |  |  | — |  |  |  | — |  |  |  | (144 | ) |  |  | — |  |  |  | (144 | )
Hyperinflationary adjustment |  |  | (38 | ) |  |  | (5 | ) |  |  | — |  |  |  | — |  |  |  | (43 | )
Currency retranslation |  |  | (1,496 | ) |  |  | (940 | ) |  |  | (184 | ) |  |  | (58 | ) |  |  | (2,678 | )
31 December 2020 |  |  | 20,118 |  |  |  | 15,420 |  |  |  | 2,819 |  |  |  | 1,074 |  |  |  | 39,431 |
Accumulated amortisation and impairment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1 January 2020 |  |  | (1,179 | ) |  |  | (212 | ) |  |  | (2,292 | ) |  |  | (807 | ) |  |  | (4,490 | )
Amortisation/impairment for the year |  |  | — |  |  |  | — |  |  |  | (279 | ) |  |  | (54 | ) |  |  | (333 | )
Disposals and other movements |  |  | — |  |  |  | — |  |  |  | 139 |  |  |  | — |  |  |  | 139 |
Currency retranslation |  |  | 3 |  |  |  | 1 |  |  |  | 150 |  |  |  | 40 |  |  |  | 194 |
31 December 2020 |  |  | (1,176 | ) |  |  | (211 | ) |  |  | (2,282 | ) |  |  | (821 | ) |  |  | (4,490 | )
Net book value 31 December 2020 (b) |  |  | 18,942 |  |  |  | 15,209 |  |  |  | 537 |  |  |  | 253 |  |  |  | 34,941 |
|  | € million |  |  | € million |  |  | € million |  |  | € million |  |  | € million |
|  |  |  |  |  |  |  | Finite-life intangible assets |  |  |  |
Movements during 2019 |  | Goodwill |  |  | Indefinite-life intangible assets |  |  | Software |  |  | Other |  |  | Total |
Cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1 January 2019 |  |  | 18,502 |  |  |  | 11,247 |  |  |  | 2,689 |  |  |  | 1,103 |  |  |  | 33,541 |
Additions through business combinations |  |  | 444 |  |  |  | 726 |  |  |  | — |  |  |  | 50 |  |  |  | 1,220 |
Disposal of businesses |  |  | (2 | ) |  |  | (1 | ) |  |  | — |  |  |  | (5 | ) |  |  | (8 | )
Reclassification to held for sale |  |  | (2 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (2 | )
Additions |  |  | — |  |  |  | — |  |  |  | 205 |  |  |  | 3 |  |  |  | 208 |
Disposals |  |  | — |  |  |  | — |  |  |  | (11 | ) |  |  | (2 | ) |  |  | (13 | )
Currency retranslation |  |  | 313 |  |  |  | 150 |  |  |  | 108 |  |  |  | 12 |  |  |  | 583 |
Hyperinflationary adjustment |  |  | (9 | ) |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | (10 | )
31 December 2019 |  |  | 19,246 |  |  |  | 12,121 |  |  |  | 2,991 |  |  |  | 1,161 |  |  |  | 35,519 |
Accumulated amortisation and impairment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1 January 2019 |  |  | (1,161 | ) |  |  | (212 | ) |  |  | (1,927 | ) |  |  | (748 | ) |  |  | (4,048 | )
Amortisation/impairment for the year |  |  | (18 | ) |  |  | — |  |  |  | (296 | ) |  |  | (56 | ) |  |  | (370 | )
Disposals of group companies |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 5 |  |  |  | 5 |
Disposals |  |  | — |  |  |  | — |  |  |  | 5 |  |  |  | 1 |  |  |  | 6 |
Currency retranslation |  |  | — |  |  |  | — |  |  |  | (74 | ) |  |  | (9 | ) |  |  | (83 | )
31 December 2019 |  |  | (1,179 | ) |  |  | (212 | ) |  |  | (2,292 | ) |  |  | (807 | ) |  |  | (4,490 | )
Net book value 31 December 2019 (b) |  |  | 18,067 |  |  |  | 11,909 |  |  |  | 699 |  |  |  | 354 |  |  |  | 31,029 |
(a) | Includes the provisional fair value of goodwill and intangibles for acquisitions made in 2020 as well as subsequent changes to the fair value of goodwill and intangibles for acquisitions made in 2019 where the initial acquisition accounting was provisional at the end of 2019. See note 21 for further details.
(b) | Within indefinite-life intangible assets there are four existing brands that have a significant carrying value: Horlicks €2,718 million (2019: €nil), Knorr €1,744 million (2019: €1,816 million), Carver Korea €1,468 million (2019: €1,509 million) and Hellmann’s €1,112 million (2019: €1,220 million). The Horlicks brand was acquired in 2020 and the valuation is provisional.
Summary of Goodwill and Indefinite-life Intangible Assets Held in Significant CGUs |
|  | 2020 CGUs |  |  | 2019 CGUs |
|  | € billion |  |  | € billion |  |  | € billion |  |  | € billion |
|  |  |  |  | Indefinite-life |  |  |  |  |  | Indefinite-life |
|  | Goodwill |  |  | intangible assets |  |  | Goodwill |  |  | intangible assets |
Foods & Refreshment Europe |  |  | 4.0 |  |  |  | 1.7 |  |  |  | 4.1 |  |  |  | 1.7 |
Foods & Refreshment The Americas |  |  | 3.4 |  |  |  | 1.9 |  |  |  | 4.0 |  |  |  | 2.1 |
Foods & Refreshment Asia/AMET/RUB (a) |  |  | 3.7 |  |  |  | 3.7 |  |  |  | 1.9 |  |  |  | 0.5 |
Beauty & Personal Care The Americas |  |  | 3.8 |  |  |  | 3.1 |  |  |  | 4.3 |  |  |  | 3.1 |
Beauty & Personal Care Asia/AMET/RUB |  |  | 1.6 |  |  |  | 1.9 |  |  |  | 1.7 |  |  |  | 2.0 |
Total significant CGUs |  |  | 16.5 |  |  |  | 12.3 |  |  |  | 16.0 |  |  |  | 9.4 |
Others (b) |  |  | 2.4 |  |  |  | 2.9 |  |  |  | 2.1 |  |  |  | 2.5 |
Total CGUs |  |  | 18.9 |  |  |  | 15.2 |  |  |  | 18.1 |  |  |  | 11.9 |
(a) | The Main Horlicks Acquisition increased goodwill by €2.0 billion and indefinite-life intangible assets by €3.3 billion in 2020. These values are provisional.
(b) | Included within Others are individually insignificant amounts of goodwill and intangible assets that have been allocated between multiple cash generating units.
Summary of Key Assumptions Used in Discounted Cash Flow Projections |
For the year 2020 |  | Foods & Refreshment Europe |  |  | Foods & Refreshment The Americas |  |  | Foods & Refreshment Asia/AMET/RUB |  |  | Beauty & Personal Care The Americas |  |  | Beauty & Personal Care Asia/AMET/RUB |
Longer-term sustainable growth rates |  |  | 1.1 | % |  |  | 1.7 | % |  |  | 3.9 | % |  |  | 1.7 | % |  |  | 3.9 | %
Average near-term nominal growth rates |  |  | (1.0 | )% |  |  | 0.1 | % |  |  | 4.9 | % |  |  | 2.5 | % |  |  | 3.4 | %
Average operating margins |  |  | 13 | % |  |  | 15 | % |  |  | 16 | % |  |  | 22 | % |  |  | 22 | %
For the year 2019 |  | Foods & Refreshment Europe |  |  | Foods & Refreshment The Americas |  |  | Foods & Refreshment Asia/AMET/RUB |  |  | Beauty & Personal Care The Americas |  |  | Beauty & Personal Care Asia/AMET/RUB |
Longer-term sustainable growth rates |  |  | 1.1 | % |  |  | 1.7 | % |  |  | 3.9 | % |  |  | 1.7 | % |  |  | 3.9 | %
Average near-term nominal growth rates |  |  | 1.2 | % |  |  | (1.2 | )% |  |  | 6.5 | % |  |  | 1.6 | % |  |  | 5.3 | %
Average operating margins |  |  | 16 | % |  |  | 15 | % |  |  | 18 | % |  |  | 21 | % |  |  | 22 | %

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