2003 2002
Notes to the Consolidated Balance Sheet
Minority interests
Position as at 1 January
393
381
Changes in the consolidation
400
25
Exchange differences
-65
-55
Revaluations
19
12
Minority interests in group profit
66
62
Dividends payable to minority shareholders
-83
-31
Share issue
2
- 1
Position as at 31 December 732 393
Provisions
Deferred tax
Pension
Other
Total
liabilities
liabilities
provisions
The movements were:
Position as at 1 January 2003
381
352
248
981
Changes in the consolidation
111
183
72
366
Revaluations/exchange differences
-50
-5
-3
-58
Added/released
-13
80
91
158
Utilised
-
-33
-30
-63
Other movements
-14
-51
48
-17
Position as at 31 December 2003
415
526
426
1,367
The provision for pension liabilities relates to pensions
and annuities which have not been insured with third
parties. The average rate of interest used in calculating
the net present value of the provision for pension
liabilities, based on current applicable interest rates
in the countries concerned, is 4% (2002: 4%).
The other provisions comprise reorganisation
provisions, provisions formed for receivables from
participating interests, for contracts of suretyship
provided and for current lawsuits. Additions due
to planned and announced restructuring programmes
are charged to the profit and loss account, with the
exception of restructuring programmes relating
to recently acquired companies, which are taken into
account in the calculation of goodwill.
€1,258 million of the provisions (2002: €939 million)
has a term in excess of one year.
HEINEKEN N.V. ANNUAL REPORT 2003
62