Notes to the Consolidated Balance Sheet
I
87 Heineken N.V. Annual Report 2004 Financial Statements 2004
Intangible fixed assets
Goodwill
Software
and other
Total
Position as at 1 January 2004
1,093
58
1,151
Changes in the consolidation
661
3
664
Investments less disposals
3
17
20
Exchange differences
-3
-
-3
Amortisation and value adjustments
-81
-31
-112
Position as at 31 December 2004
1,673
47
1,720
This book value is made up as follows:
Historical cost
Accumulated amortisation
1,790
-117
138
-91
1,928
-208
The investment in goodwill in 2004 relates mainly to
the expansion of our interest in the BBAG group in Austria.
It also relates to the acquisitions of Shikhan and Volga
Brewery in Russia, Sobol Beer LLC in West Siberia and the
expansion of our interest in Dinal LLP in Kazakhstan.
Finally, it relates to the expansion of existing interests
and acquisitions of beverage wholesalers.
1,673
47
1,720
Tangible fixed assets
Land and
buildings
Plant and
equipment
Other
fixed assets
Projects under Total
construction
Position as at 1 January 2004
1,772
2,050
982
191
4,995
Changes in the consolidation
-1
80
7
2
88
Investments less disposals
22
185
250
180
637
Completed projects
58
101
52
-211
-
Exchange differences
5
2
3
1
11
Revaluations
11
22
8
-
41
Depreciation and value adjustments
-71
-266
-308
-
-645
Position as at 31 December 2004
1,796
2,174
994
163
5,127
This book value is made up as follows:
Replacement cost
3,681
5,806
2,772
163
12,422
Accumulated depreciation
-1,885
-3,632
-1,778
-7,295
1,796
2,174
994
163
5,127
The aggregate amount of revaluations included
in the book value as at 31 December 2004 is:
245
318
41
604
Other fixed assets includes vehicles, office equipment
and returnable packaging. Projects under construction
also include advance payments on tangible fixed assets on
order. Some of the tangible fixed assets are encumbered
with mortgages totalling €140 million (2003: €108 million).
