Net interest-bearing debt position
2005
2004
Long-term borrowings
2,195
2,615
Bank overdrafts
351
517
Current portion of long-term borrowings
409
146
Deposits from third parties and other short-term interest bearing debt
300
283
3,255
3,561
Cash and current investments
(608)
(704)
2,647
2,857
2 Employee benefits
2005
P: esent value of unfunded obligations
291
422
Pi esent value of funded obligations
2,830
2,176
F. ir value of plan assets
(2,268)
(1,843)
P esent value of net obligations
853
755
L ss: Unrecognised actuarial losses
(285)
(121)
R cognised liability for defined benefit obligations
568
634
0 her long-term employee benefits
96
46
664
680
L bility for defined benefit obligations
H ineken makes contributions to a number of defined benefit plans that provide pension benefits
fc employees upon retirement in a number of countries being mainly: Netherlands, Greece, Austria,
G rmany, Italy, France, Spain and Nigeria. In other countries the pension plans are defined contribution
p ans and/or similar arrangements for employees.
C her long-term employee benefits mainly relate to long-term bonus plans, termination benefits and
ji oilee benefits.
I vements in the net liability for defined benefit obligations recognised in the balance sheet
ions of EUR 2005
M t liability at 1 January
634
661
C anges in consolidation and reclassification
(29)
E ect of movements in foreign exchange
5
C ntributions paid
(138)
(123)
E pense recognised in the income statement
96
96
568
634
E oense recognised in the income statement
2005
C irrent service costs
82
80
It erest on obligation
131
132
E pected return on plan assets
(112)
(106)
E ect of any curtailment or settlement
(5)
(10)
96
96
Heineken N.V. - Annual Report 2005
