HEINEKEN N.V. ANNUAL REPORT 2008 (iv) Depreciation Land is not depreciated as it is deemed to have an infinite life. Depreciation on other P, P E is charged to the income statement on a straight-line basis over the estimated useful lives of items of property, plant and equipment, and major components that are accounted for separately. Assets under construction are not depreciated. The estimated useful lives are as follows: Buildings 30-40 years Plant and equipment 10 - 30 years Other fixed assets 5 -10 years Where parts of an item of P, P E have different useful lives, they are accounted for as separate items of P, P E. The depreciation methods, residual value as well as the useful lives are reassessed, and adjusted if appropriate, annually. (v) Gains and losses on sale Net gains on sale of items of P, P E are presented in the income statement as other income. Net losses on s le are included in depreciation. Net gains and losses are recognised in the income statement when the s qnificant risks and rewards of ownership have been transferred to the buyer, recovery of the consideration i; probable, the associated costs can be estimated reliably, and there is no continuing management ir /olvement with the P, P E. Intangible assets (i Goodwill C todwill arises on the acquisition of subsidiaries, associates and joint ventures and represents the excess of t e cost of the acquisition over Heineken's interest in net fair value of the net identifiable assets, liabilities and c ntingent liabilities of the acquiree. todwill on acquisitions of subsidiaries is included in 'intangible assets'. Goodwill arising on the acquisition t associates and joint ventures is included in the carrying amount of the associate, respectively the joint v ntures. In respect of acquisitions prior to 1 October 2003, goodwill is included on the basis of deemed cost, t ing the amount recorded under previous GAAP. Goodwill on acquisitions purchased before 1 January 2003 s been deducted from equity. jodwill arising on the acquisition of a minority interest in a subsidiary represents the excess of the cost c the additional investment over the carrying amount of the interest in the net assets acquired at the date exchange. L todwill is measured at cost less accumulated impairment losses (refer accounting policy 3k(ii)). Goodwill is ocated to individual or groups of cash-generating units for the purpose of impairment testing and is tested nually for impairment. 'gative goodwill is recognised directly in the income statement. Brands ilowing the Scottish Newcastle ('S&N') acquisition, strategic brands and customer-related and contract- I ised intangibles have been acquired. No strategic brands and material customer-related and contract- sed intangibles have been acquired in other acquisitions since the conversion to IFRS in 2004. ands acquired, separately or as part of a business combination, are capitalised if they meet the definition an intangible asset and the recognition criteria are satisfied. Brands acquired as part of a business 'inbination are valued at fair value based on the royalty relief method. Brands acquired separately are easured at cost.

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2008 | | pagina 81