NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
HEINEKEN N.V. ANNUAL REPORT 20( 8
1. Reporting entity
Heineken N.V. (the 'Company') is a company domiciled in the Netherlands. The address of the Company's
registered office is Tweede Weteringplantsoen 21, Amsterdam. The consolidated financial statements of
the Company as at and for the year ended 31 December 2008 comprise the Company, its subsidiaries
(together referred to as 'Heineken' or the 'Group' and individually as 'Heineken' entities) and Heineken's
interests in joint ventures and associates.
A summary of the main subsidiaries, joint ventures and associates is included in note 34 and 16. Heineken
is primarily involved in brewing and selling of beer.
2. Basis of preparation
(a) Statement of compliance
The consolidated financial statements have been prepared in accordance with International Financial
Reporting Standards (IFRS) as endorsed by the EU and also comply with the financial reporting requirements
included in Part 9 of Book 2 of the Dutch Civil Code. The Company presents a condensed income statement,
using the facility of Article 402 of Part 9, Book 2, of the Dutch Civil Code.
The consolidated financial statements have been prepared by the Executive Board of the Company and
authorised for issue on 17 February 2009 and will be submitted for adoption to the Annual General Meeting
of Shareholders on 23 April 2009.
(b) Basis of measurement
The consolidated financial statements have been prepared on the historical cost basis except for the
following assets and liabilities:
Available-for-sale investments are measured at fair value.
Investments at fair value through profit and loss are measured at fair value.
Derivative financial instruments are measured at fair value.
Liabilities for equity-settled share-based payment arrangements are measured at fair value.
Long-term interest-bearing liabilities on which fair value hedge accounting is applied are measured
at fair value.
The methods used to measure fair values are discussed further in note 4.
(c) Functional and presentation currency
These consolidated financial statements are presented in euro, which is the Company's functional currency.
All financial information presented in euro has been rounded to the nearest million unless stated otherwise.
(d) Use of estimates and judgements
The preparation of consolidated financial statements in conformity with IFRS requires management to make
judgements, estimates and assumptions that affect the application of accounting policies and the reported
amounts of assets and liabilities, income and expenses. Actual results may differ from these estimates.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates
are recognised in the period in which the estimate is revised and in any future periods affected.
