Unilever Group is a global company that markets a wide variety of products, including Lever® soap, Breyer€™s® ice cream, and Hellman€™s® mayonnaise. A recent income statement and statement of comprehensive income for the Dutch company, Unilever Group, are shown below for a recent year.

a. What do you think is meant by €œturnover€?
b. How does Unilever€™s income statement presentation differ significantly from that of Mornin€™ Joe?
c. How is the total for net finance costs presented differently than would be typically found under U.S.GAAP?

Transcribed Image Text:

Unllever Group Consolidated Income Statement For the Year Ended December 31 (In millions of euros) Turnover Operating profit. After (charging)/crediting 44,262 6,339 (589) Restructuring. Business disposals, impairments, other 308 (394) (491) Net finance costs Finance income Finance costs. Pensions and similar obligations Share of net profit/(loss) of joint ventures Share of net profit/(loss) of associates. Other income from non-current investments 120 76 Profit before taxation Taxation Net profit 6,132 (1,534) Earnings per share-basic. Earnings per share- diluted. 1.51 1.46 Consoldated Statement of Comprehenslve Income For the Year Ended December 31 Fair value gains (losses), net of tax Actuarial gains (losses) on pensions, net of tax. Currency retranslation gains (losses), net of tax Net income (expense) recognized directly into equity 43 105 460 608 Net profit Total comprehensive income 4,598 5,206