99.
Fair values
The fair values together with their carrying amounts are shown below:
Carrying
amount
2005
Fair
value
2005
Equity securities available-for-sale
165
165
Debt securities held-to-maturity
481
481
Equity securities held-for-trading
23
23
Non-interest-bearing current assets
1,776
1,776
Interest rate swaps:
Assets
2
2
Liabilities
(8)
(8)
Fc rward exchange contracts:
Assets
4
4
Liabilities
(44)
(44)
Forward rate agreements
Assets
5
5
Liabilities
(10)
(10)
Bonds
(1,344)
(1,415)
Bank loans
(1,252)
(1,258)
0 her interest-bearing debt
(300)
(302)
Fi ïance lease liabilities
(8)
(8)
L ng-term debts interest-free
(38)
(40)
N n-interest-bearing current liabilities
(2,317)
(2,317)
(2,865)
(2,946)
F; r value has been determined either by reference to the market value at the balance sheet date
Oi by discounting the relevant cash flows using current interest rates for similar instruments.
Heineken N.V. - Annual Report 2005