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Financial instruments fair value risk (Tables)
12 Months Ended
Dec. 31, 2022
Disclosure of detailed information about financial instruments [abstract]  
Summary of Fair Values of Financial Assets and Financial Liabilities
€ million€ million€ million€ million
Fair valueFair valueCarrying
amount
Carrying
amount
Fair values of financial assets and financial liabilities2022202120222021
Financial assets
Cash and cash equivalents4,326 3,415 4,326 3,415 
Financial assets at amortised cost1,004 958 1,004 958 
Financial assets at fair value through other comprehensive income407 527 407 527 
Financial assets at fair value through profit or loss
   Derivatives289 128 289 128 
   Other889 741 889 741 
6,915 5,769 6,915 5,769 
Financial liabilities
Bank loans and overdrafts(519)(402)(519)(402)
Bonds and other loans(25,136)(29,133)(26,512)(27,621)
Lease liabilities(1,408)(1,649)(1,408)(1,649)
Derivatives(631)(184)(631)(184)
Other financial liabilities(418)(277)(418)(277)
(28,112)(31,645)(29,488)(30,133)
Summary of Assets and Liabilities Carried at Fair Value, Classification of Fair Value Calculations by Category
For assets and liabilities which are carried at fair value, the classification of fair value calculations by category is summarised below:
€ million€ million€ million€ million€ million€ million€ million€ million
Notes
Level 1
2022
Level 1
2021
Level 2
2022
Level 2
2021
Level 3
2022
Level 3
2021
Total fair
value
2022
Total fair
value
2021
Assets at fair value
Financial assets at fair value through other comprehensive income17A399 518 407 527 
Financial assets at fair value through profit or loss:
    Derivatives(a)
16C– – 378 289 – – 378 289 
    Other 17A428 331 – – 461 410 889 741 
Liabilities at fair value
  Derivatives(b)
16C– – (784)(235)– – (784)(235)
  Contingent consideration14– – – – (164)(180)(164)(180)
(a)Includes €89 million (2021: €161 million) derivatives, reported within trade receivables, that hedge trading activities.
(b)Includes €(153) million (2021: €(51) million) derivatives, reported within trade payables, that hedge trading activities.
Summary of Reconciliation of Movements in Level 3 Valuations
€ million€ million
Reconciliation of movements in Level 3 valuations20222021
1 January748 550 
Gains and losses recognised in income statement11 40 
Gains and losses recognised in other comprehensive income55 190 
Purchases and new issues94 30 
Sales and settlements*(212)(62)
31 December696 748 
* This includes €(157) million movement due to derecognition of Unilever Ventures' equity interest in Nutrafol before business combination (refer to note 21 for more details).