I 112 Financial statements
Notes to the consolidated financial statements
27. Share-based payments - Long-Term Incentive Plan
Based on the expectations in relation to RTSR performance and internal performance additional shares
will be expected to be vested, amounting to 121,018 shares. The expenses relating to these expected
additional grants are recognised in profit and loss during the vesting period.
The number and weighted average share price per share is as follows:
Weighted Number Weighted Number
average share of share average share of share
price 2007 rights 2007 price 2006 rights 2006
26.55 435,871 24.53 43,724
Granted during the year 36.03 313,665 26.78 392,147
Forfeited during the period-(52,920)--
Outstanding as at 31 December 30.10 696,616 26.55 435,871
The fair value of services received in return for share rights granted is based on the fair value of shares
granted, measured using the Monte Carlo model, with following inputs:
Executive Executive Senior Senior
Board Board management management
In EUR 2007 2006 2007 2006
Fair value at grant date 486,879
424,519
9,524,037
8,814,436
Expected volatility 20.1%
22.4%
20.1%
22.4%
1.2%
1.5%
1.2%
1.5%
Personnel expenses
In millions of EUR
Note
2007
2006
Share rights granted in 2006
3
4
Share rights granted in 2007
4
-
Total expense recognised as personnel expenses
10
7
4
28. Provisions
In millions of EUR
Note
Restructuring
Other
Total
Balance as at 1 January 2007
252
112
364
Changes in consolidation
6
-
1
1
Provisions made during the year
49
66
115
Provisions used during the year
(108)
(6)
(114)
Provisions reversed during the year
(23)
(16)
(39)
Effect of movements in exchange rates
-
(1)
(1)
Unwinding of discounts
1
-
1
Balance as at 31 December 2007
171
156
327
Non-current
61
123
184
Current
110
33
143
171
156
327
Restructuring
The provision for restructuring of €171 million mainly relates to restructuring programmes in the
Netherlands, France, Spain and Italy. During the year, €46 million (2006: €102 million) restructuring
expenses relating to Fit2Fight have been recognised.
Heineken N.V. Annual Report 2007