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

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2003 | | pagina 68