108 Annual Report 2009 - Heineken N.V.
Financial Statements
Notes to the consolidated financial statements
14- Property, plant and equipment
In millions of EUR
Note
Land and
buildings
Plant and
equipment
Other fixed
assets
Under
construction
Total
Cost
Balance as at 1 January 2008
2,498
4,615
2,994
432
10,539
Changes in consolidation
887
333
326
86
1,632
Purchases
117
218
357
410
1,102
Transfer of completed projects under construction
74
250
101
(425)
Transfer to/from assets classified as held for sale
13
-
(U)
2
Disposals
(61)
(117)
(219)
-
(397)
Effect of movements in exchange rates
(134)
(143)
(100)
(35)
(412)
Balance as at 31 December 2008
3,381
5,169
3,459
457
12,466
Balance as at 1 January 2009
3,381
5,169
3,459
457
12,466
Changes in consolidation
6
15
91
(9)
3
100
Purchases
45
110
232
291
678
Transfer of completed projects under construction
89
199
78
(366)
-
Transfer to/from assets classified as held for sale
19
(39)
(39)
(3)
(62)
Disposals
(94)
(122)
(204)
(68)
(488)
Effect of movements in exchange rates
5
(71)
1
1
(64)
Balance as at 31 December 2009
3,460
5,337
3,518
315
12,630
Depreciation and impairment losses
Balance as at 1 January 2008
(1,221)
(2,619)
(2,026)
(5,866)
Changes in consolidation
28
49
11
88
Depreciation charge for the year
11
(81)
(277)
(383)
-
(741)
Impairment losses
11
(55)
(31)
(4)
-
(90)
Reversal impairment losses
11
2
3
1
6
Transfer to/from assets classified as held for sale
(2)
(2)
-
-
(4)
Disposals
34
101
199
-
334
Effect of movements in exchange rates
13
56
52
121
Balance as at 31 December 2008
(1,282)
(2,720)
(2,150)
-
(6,152)
Balance as at 1 January 2009
(1,282)
(2,720)
(2,150)
-
(6,152)
Changes in consolidation
6
2
-
3
-
5
Depreciation charge for the year
11
(117)
(286)
(365)
-
(768)
Impairment losses
11
(81)
(95)
(5)
-
(181)
Reversal impairment losses
11
1
16
1
-
18
Transfer to/from assets classified as held for sale
8
22
19
-
49
Disposals
62
169
166
-
397
Effect of movements in exchange rates
2
19
(2)
-
19
Balance as at 31 December 2009
(1,405)
(2,875)
(2,333)
-
(6,613)
Carrying amount
As at 1 January 2008
1,277
1,996
968
432
4,673
As at 31 December 2008
2,099
2,449
1,309
457
6,314
As at 1 January 2009
2,099
2,449
1,309
457
6,314
As at 31 December 2009
2,055
2,462
1,185
315
6,017
Impairment losses
In 2009 a total impairment loss of EUR 181 million (2008: EUR90 million) was charged to the income statement.
These impairment losses include EUR67 million of impairments of pubs in the UK. These impairments were
triggered by a persisting market decline in the pub market and was determined by making use of market
multiples. The remaining impairments mainly relate to restructurings in France, Finland, Ireland, Russia
and Romania.