of the hedge is measured by comparing the cumulative change in fair value of the derivative financial instruments with the hedge item. The ineffective part of any gain or loss is recognised in the income statement immediately. Any gain or loss arising from changes in the time value of the derivative financial instrument is excluded from the measurement of hedge effectiveness and is recognised in the income statement immediately. When a hedging instrument or hedge relationship is terminated but the hedged transaction still is expected to occur, the cumulative gain or loss at that point remains in equity and is recognised in accordance with the above policy when the transaction occurs. If the hedged transaction is no longer probable, the cumulative unrealised gain or loss recognised in equity is recognised in the income statement immediately. (t Property, plant equipment (P, P E) (i Owned assets It ms of property, plant and equipment are stated at cost less government grants received (refer iv), a cumulated depreciation (refer v) and impairment losses (refer accounting policy m). The historical cost ci mprises the initial purchase price increased with direct acquisition costs (like transports and non-recoverable taxes). The cost of self-constructed assets includes the cost of materials, direct labour and an appropriate p oportion of production overheads. V ïere an item of property, plant and equipment comprises major components having different useful lives, ti ey are accounted for as separate items of property, plant and equipment. (i Leased assets L ases in terms of which Heineken assumes substantially all the risks and rewards of ownership are c issified as finance leases. Plant and equipment acquired by way of finance lease is stated at an amount e ual to the lower of its fair value and the present value of the minimum lease payments at inception o the lease, less accumulated depreciation (refer v) and impairment losses (refer accounting policy m). L ase payments are accounted for as described in accounting policy t. Subsequent expenditure E penditure incurred to replace a component of an item of property, plant and equipment that is accounted separately, is capitalised. Subsequent expenditure is capitalised only when it increases the future economic b nefits embodied in the item of property, plant and equipment. All other expenditure is recognised in the ir :ome statement as an expense as incurred. Government grants C -/eminent grants related to plant, property and equipment and grants relating to research and c velopment activities are recognised when it is reasonably assured that Heineken will comply with t e conditions attaching to them and the grants will be received. Heineken N.V. - Annual Report 2005

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2005 | | pagina 75