90 Heineken N.V. Annual Report 2004 Financial Statements 2004 Notes to the Consolidated Balance Sheet
Provisions Deferred tax Pension Reorganisation Other Total
liabilities liabilities provisions provisions
The movements were:
Position as at 1 January 2004
415
526
173
253
1,367
Change in accounting policies
-100
-526
-
-20
-646
Changes in the consolidation
-75
-
6
-25
-94
Revaluations/exchange differences
-1
-
-
-3
-4
Added/released
17
-
45
-13
49
Utilised
-
-
-52
-22
-74
Other movements
-29
-
-1
-30
Position as at 31 December 2004
227
0
172
169
568
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.
The other provisions comprise provisions formed for receivables from participating interests,
for contracts of surety provided and for current lawsuits.
€482 million of the provisions (2003: €1,258 million) has a term in excess of one year.
2004
Employee benefits
Net present value of unfunded liablities 422
Net present value of funded liablities 2,176
Less: Fair value of the investments -1,843
Net present value of pension rights granted 755
Less: Unrecognised actuarial gains and losses -121
Liability included in the balance sheet 634
Provision by other deferred benefits 46
Position as at 31 December 2004
680