Under IFRS, an entity must present a statement of comprehensive income, often called the statement of recognized income and expenses (SORIE). The SORIE below was taken from the 2008 annual report of Unilever Group, a Dutch-based consumer-goods company that publishes IFRS-based financial statements (in million euros).

2008

2007

2006

Net Profit

5,285

4136

5,015

Fair value gains (losses) on cash flow hedges

118

84

6

Fair value gains (losses) on cash available for-sale securities

46

2

15

Actual gains (losses) on pension

2293

542

853

Currency retranslation gain (losses)

1688

413

335

Total recognized income and expense

1140

4,351

5,554

Which of the numbers—net profit or total recognized income and expense— represents a more accurate metric of Unilever”s past performance? Which provides a better indication of future performance? Why?