109
26. Employee benefits
In millions of EUR 2007 2006
Present value of unfunded obligations
345
309
Present value of funded obligations
2,571
2,734
Total present value of obligation
2,916
3,043
Fair value of plan assets
(2,535)
(2,397)
Present value of net obligation
381
646
Actuarial gains (losses) not recognised
171
(78)
Recognised liability for defined benefit obligations
552
568
Other long-term employee benefits
94
97
646
665
Plan assets comprise:
In millions of EUR
2007
2006
Equity securities
1,050
968
Government bonds
959
955
Properties and real estate
220
199
Other plan assets
306
275
2,535
2,397
L ibility for defined benefit obligations
Heineken makes contributions to a number of defined benefit plans that provide pension benefits for
employees upon retirement in a number of countries being mainly: the Netherlands, Greece, Austria,
Germany, 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
jubilee benefits.
F averments in the present value of the defined benefit obligations
In millions of EUR Note 2007 2006
med benefit obligations as at 1 January 3,043 3,121
anges in consolidation and reclassification 6 (1) (1)
ect of movements in exchange rates (4) (2)
B mefi'ts paid (98) (97)
rrent service costs and interest on obligation (see next page) 206 209
Past service costs 1
Effect of any curtailment or settlement 4 6
Actuarial gains(235) (195)
C fined benefit obligations as at 31 December 2,916 3,043
Heineken N.V. Annual Report 2007