12. Net finance expenses
Recognised in the income statement
90
(633)
214
(329)
Recognised in other comprehensive income
146
146
Financial Statements
Notes to the consolidated financial statements
In millions of EUR
2009
2008
Interest income on unimpaired loans and held-to-maturity investments
8
7
Interest income on available-for-sale investments
1
1
Interest income on cash and cash equivalents
81
83
Interest income
91
Interest expenses
(469)
Dividend income on available-for-sale investments
1
9
Dividend income on investments held for trading
10
Net gain/(loss) on disposal of available-for-sale investments
12
(1)
Net loss on disposal of investments held for trading
-
(1)
Net change in fair value of derivatives
(7)
(55)
Net foreign exchange loss
(47)
(45)
Impairment losses on held-to-maturity investments
(1)
Unwinding discount on provisions
(3)
(11)
Other net financial income/(expenses)
248
(2)
Other net finance income/fexpenses)
(107)
Net finance expenses
(485)
In millions of EUR
2009
2008
Foreign currency translation differences for foreign operations
112
(645)
Effective portion of changes in fair value of cash flow hedges
(90)
(105)
Effective portion of cash flow hedges transferred to the income statement
88
(59)
Net change in fair value of available-for-sale investments
26
(12)
Net change in fair value available-for-sale investments transferred to the
income statement
(12)
1
Share of other comprehensive income of associates/joint ventures
22
(3)
(823)
Recognised in:
Fair value reserve
12
(11)
Hedging reserve
(2)
(167)
Translation reserve
136
(645)
(823)
In the other net finance expenses a total (net) book gain of EUR 248 million on the purchase of Globe debt
(Scottish Newcastle Pub Enterprises) is included. Please refer to note 25 for a full overview of the effects
of the repurchase of Globe debt.
The increase of the impact of foreign currency translation differences for foreign operations in other
comprehensive income is mainly due to the impact of revaluation of the British pound on the net assets and
goodwill measured in British pounds of total EUR 145 million. Remaining impact is related to devaluation
of the Russian rouble, Belarussian rouble, Nigerian naira and US dollar, partly offset by the appreciation of
the Chilean peso.
106 Annual Report 2009 - Heineken N.V.
