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Capital and funding (Tables)
 12 Months Ended
Dec. 31, 2021
Text Block [Abstract]  
Summary of Share Capital
20212020
Unilever PLC£ million£ million
PLC ordinary shares of 31/9 p each(a)
81.8 36.4 
Shares issued to NV shareholders(b)
— 45.4 
81.8 81.8 
Unilever Group€ million€ million
Euro equivalent in millions(c)
92 92 
(a)At 31 December 2021, 2,629,243,772 of PLC ordinary shares were in issue. No NV shares were in issue, with NV shares and PLC deferred stock cancelled before Unification in 2020. At 31 December 2020, 2,629,243,772 of PLC ordinary shares were in issue.
(b) As a result of Unification during 2020, the shareholders of NV were issued 1,460,713,122 PLC ordinary shares, and all NV shares in issue were cancelled.
(c) The ordinary share capital of PLC is translated using the conversion rate as at the date of Unification of £1 = €1.121.
Summary Combined Financial Information in Relation to HUL Summary financial information in relation to HUL is shown below.
€ million€ million
HUL balance sheet as at 31 December20212020
Non-current assets6,616 6,173 
Current assets1,454 1,258 
Current liabilities(1,212)(1,127)
Non-current liabilities(1,231)(1,139)
HUL comprehensive income for the year ended 31 December
Turnover5,581 4,957 
Profit after tax977 866 
Total comprehensive income 1,334 374 
€ million€ million
HUL cash flow for the year ended 31 December20212020
Net increase/(decrease) in cash and cash-equivalents(176)48 
HUL non-controlling interest
1 January(1,978)(328)
Share of (profit)/loss for the year ended 31 December(372)(319)
Other comprehensive income(3)3 
Dividend paid to the non-controlling interest326 392 
Currency translation(131)192 
Net gain arising from Horlicks acquisition— (1,918)
Other movements in equity12 — 
31 December (2,146)(1,978)
Summary of Consolidated Statement of Changes in Equity: Analysis of Other Reserves
€ million€ million€ million
Total 2021Total 2020Total 2019
Fair value reserves - see following table502 250 110 
Currency retranslation of group companies - see following table(6,043)(7,068)(4,712)
Adjustment on translation of PLC's ordinary capital(a)
— — (148)
Capital redemption reserve21 21 37 
Book value of treasury shares - see following table(388)(483)(703)
Repurchase of shares
(3,018)— — 
Other(b)
(284)(202)(158)
(9,210)(7,482)(5,574)
(a)Prior to Unification, a conversion rate of £1 =€5.143 was used in accordance with the Equalisation Agreement, which ceased to exist as a result of Unification. The ordinary share capital of PLC is now translated using the conversion rate at 29 November 2020 of £1 = €1.121. The difference between the conversion rates was released through other reserves as presented in the 'Other effects of Unification' line in the Statement of Changes in Equity.
(b)Relates primarily to options to purchase non-controlling interest in subsidiaries.
Share buyback
€ million€ million
Treasury shares – movements during the year20212020
1 January(483)(703)
Repurchase of shares(3,018)— 
Other purchases and utilisations 95 220 
31 December(a)
(3,406)(483)
(a)Shortly before Unification in 2020, 4,523,367 NV and PLC ordinary shares, 892,155 NV NYRSs and 468,989 PLC ADSs held by NV in connection with share-based compensation plans were transferred to an employee share ownership trust at their carrying value. See note 4C for details.
Disclosure of Currency Retranslation Reserve
€ million€ million
Currency retranslation reserves – movements during the year20212020
1 January(7,068)(4,712)
Currency retranslation of group companies net assets and liabilities during the year176 (1,490)
Movement in net investment hedges and exchange differences in net investments in foreign operations849 (866)
31 December(6,043)(7,068)
Disclosure of Fair Value Reserve
€ million€ million
Fair value reserves – movements during the year20212020
1 January250 110 
Movements in Other comprehensive income, net of tax
   Gains/(losses) on equity instruments147 68 
   Gains/(losses) on cash flow hedges276 62 
Hedging gains/(losses) transferred to non-financial assets(171)10 
31 December502 250 
Refer to the consolidated statement of comprehensive income on page 114, the consolidated statement of changes in equity on page 115, and note 6C on page 135.
Remeasurement of defined benefit pension plans net of tax
€ million€ million
20212020
1 January(931)(1,146)
Movement during the year1,734 215 
31 December803 (931)
Refer to the consolidated statement of comprehensive income on page 114, the consolidated statement of changes in equity on page 115, note 4B from pages 125 to 131 and note 6C on page 135.
Disclosure of Currency Retranslation Gains Losses
€ million€ million
20212020
1 January(7,674)(5,084)
Currency retranslation during the year:
    Other reserves1,025 (2,356)
    Retained profit3 (22)
    Non-controlling interest149 (212)
31 December(6,497)(7,674)
Summary of Financial Liabilities
€ million€ million€ million€ million€ million€ million
Financial liabilities(a)
Current 2021Non-Current 2021Total 2021Current 2020Non-Current 2020Total 2020
Bank loans and overdrafts(b)
383 19 402 407 4 411 
Bonds and other loans6,313 21,308 27,621 3,499 21,086 24,585 
Lease liabilities365 1,284 1,649 380 1,391 1,771 
Derivatives85 99 184 58 257 315 
Other financial liabilities(c)
106 171 277 117 106 223 
7,252 22,881 30,133 4,461 22,844 27,305 
(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)Bank loans and overdrafts include Nil (2020: €2.6 million) of secured liabilities.
(c)Includes options and financial liabilities to acquire non-controlling interests in Myanmar, USA, Japan, Italy and Hong Kong refer to note 21.
Reconciliation of Liabilities Arising from Financing Activities
Reconciliation of liabilities arising from financing activities
Non-cash movement
Movements in 2021 and 2020
Opening
balance at
1 January
Cash
movement
Business
acquisi-
tions/
disposals
Foreign
exchange
changes
Fair
value
changes
Other
movements(c)
Closing
balance at
31 December
€ million
€ million
€ million
€ million
€ million
€ million
€ million
2021
Bank loans and overdrafts(a)
(411)(16)(2)— — 27 (402)
Bonds and other loans(a)
(24,585)(1,877)— (1,145)37 (51)(27,621)
Lease liabilities(b)
(1,771)471 (5)(65)— (279)(1,649)
Derivatives(315)— — (3)124 10 (184)
Other financial liabilities(a)
(223)— — 13 — (67)(277)
Total(27,305)(1,422)(7)(1,200)161 (360)(30,133)
2020
Bank loans and overdrafts(a)
(853)386 (1)54 — 3 (411)
Bonds and other loans(a)
(25,032)(658)— 1,131 10 (36)(24,585)
Lease liabilities(b)
(1,919)473 (27)142 — (440)(1,771)
Derivatives(270)— — — (45)— (315)
Other financial liabilities(a)
(183)— — (2)20 (58)(223)
Total(28,257)201 (28)1,325 (15)(531)(27,305)
(a)These cash movements are included within the following lines in the consolidated cash flow statement: net change in short-term borrowings, additional financial liabilities and repayment of financial liabilities. The difference of €39 million (2020: €10 million) represents cash movements in overdrafts that are not included in financing cash flows.
(b)Lease liabilities cash movement is included within capital element of lease payments in the consolidated cash flow statement. The difference of €7 million (2020: €30 million) represents gain or loss from termination and modification of lease contracts.
(c)Other movements includes financial liabilities of €80 million (2020: nil), classified as held for sale, refer note 22 for further details.
Summary of Analysis of Bonds and Other Loans
€ million€ million
Total 2021Total 2020
Unilever PLC
1.125% Notes 2022 (£)
417 387 
1.375% Notes 2024 (£)
298 276 
1.875% Notes 2029 (£)
296 274 
1.500% Notes 2026 (£)
592 550 
1.500% Notes 2039 (€)
647 646 
Commercial Paper (£)
238 — 
Total PLC2,488 2,133 
Other group companies
The Netherlands
1.625% Notes 2033 (€)
793 793 
0.500% Notes 2022 (€)
750 749 
1.375% Notes 2029 (€)
745 744 
1.125% Bonds 2027 (€)
697 697 
1.125% Bonds 2028 (€)
695 695 
0.875% Notes 2025 (€)
648 648 
0.500% Bonds 2025 (€)
646 645 
1.375% Notes 2030 (€)
644 643 
0.375% Notes 2023 (€)
600 599 
1.000% Notes 2027 (€)
598 598 
1.000% Notes 2023 (€)
499 498 
0.000% Notes 2021 (€)
— 499 
0.500% Notes 2023 (€)
499 498 
0.500% Notes 2024 (€)
497 496 
1.250% Notes 2025 (€)
999 999 
1.750% Notes 2030 (€)
995 994 
Commercial Paper (US $)1,320 — 
Switzerland
Other27 16 
United States
4.250% Notes 2021 (US $)
— 812 
5.900% Bonds 2032 (US $)
875 809 
2.900% Notes 2027 (US $)
873 803 
2.200% Notes 2022 (US $)
750 689 
3.500% Notes 2028 (US $)
697 641 
2.000% Notes 2026 (US $)
612 563 
3.125% Notes 2023 (US $)
484 445 
3.000% Notes 2022 (US $)
441 406 
3.250% Notes 2024 (US $)
440 404 
3.100% Notes 2025 (US $)
439 403 
2.600% Notes 2024 (US $)
439 404 
3.500% Bonds 2028 (US $)
437 402 
2.750% Bonds 2021 (US $)
— 324 
3.375% Notes 2025 (US $)
307 283 
7.250% Bonds 2026 (US $)
259 238 
6.625% Bonds 2028 (US $)
206 189 
5.600% Bonds 2097 (US $)
80 74 
2.125% Notes 2029 (US $)
743 683 
2.600% Notes 2024 (US $)
448 415 
1.375% Notes 2030 (US $)(a)
409 395 
0.375% Notes 2023 (US $)
441 405 
0.626% Notes 2024 (US $)
441 — 
2.625% Notes 2051 (US $)
563 — 
1.750% Notes 2031 (US $)(a)
727 — 
Commercial Paper (US $)2,370 1,848 
Other countries— 6 
Total other group companies25,133 22,452 
Total bonds and other loans27,621 24,585 
(a)1.375% Notes 2030 (US $) includes €(31) million (2020: €(10) million) and 1.750% Notes 2031 (US $) includes €(16) million (2020: Nil) fair value adjustment following the fair value hedge accounting of fixed-for-floating interest rate swaps.