Heineken N.V. annual accounts 1987
37
Provisions
These comprise:
Provision for deferred tax labilities
Provision for pension liabilities
Provision for other personnel schemes
Other provisions
1987
1986
528,729
98,911
172,508
6,961
488,138
86,135
175,461
8,200
807,109
757,934
The Provision for pension liabilities largely relates to
pensions and annuities which have not been funded by third
parties. The average rate of interest used in calculating the
present value was 7%, taking into consideration the interest
rates existing in the countries concerned.
The provisions are almost entirely to be considered as
becoming due and payable after more than one year.
Long-term debts
The debts becoming due and payable after more than one
year relate to:
More More
Total than 5 years Total than 5 years
Euro-guilder Notes Loan, interest 6.5%, redeemable on
February 1, 1991 150,000 - 150,000
Loan in guilders, interest 10.25%, annual repayment of
N.fl. 5.3 million 32,002 10,669 37,335 16,002
Other debentures and private loans, average interest 11.9%
(1986:11.7%) 382,130 38,359 366,439 81,290
Other debts, interest-free 54,666 10,098 55,889 38,272
618,798 59,126 609,663 135,564
The loan in guilders has been secured by the obligation not
to encumber the complex at Zoeterwoude in the Netherlands.
In relation to debentures and private loans securities in the
form of mortgages have been given up to an amount of
N.fl. 111 million (1986: N.fl. 141 million).
