18. Deferred tax assets and liabilities
Financial Statements
Notes to the consolidated financial statements
Recognised deferred tax assets and liabilities
Deferred tax assets and liabilities are attributable to the following items:
Assets Liabilities Net
In millions of EUR
2009
2008'
2009
2008"
2009
2008'
Property, plant equipment
55
33
(385)
(371)
(330)
(338)
Intangible assets
41
43
(310)
(324)
(269)
(281)
Investments
15
2
(6)
(27)
9
(25)
Inventories
17
10
(6)
(5)
11
5
Loans and borrowings
1
1
-
-
1
1
Employee benefits
92
85
24
32
116
117
Provisions
92
64
-
-
92
64
Other items
111
(4)
(103)
34
8
30
Tax losses carry-forwards
137
128
-
137
128
Net tax assets/fliabilities)
561
362
(786)
(661)
(225)
(299)
The closing balance of deferred tax assets has been adjusted with EUR103 million and deferred tax liabilities with EUR24 million due to the
finalisation of the purchase price accounting of the Scottish Newcastle acquisition (see note 6).
Tax losses carry-forwards
Heineken has losses carry-forwards for an amount of EUR983 million as at 31 December 2009
(2008: EUR 1,157 million), which expire in the following years:
In millions of EUR
2009
2008
2009
-
12
2010
2011
11
16
11
16
2012
11
8
2013
2014
After 2014 respectively 2013 but not unlimited
Unlimited
18
18
91
818
22
151
937
983
1,157
Recognised as deferred tax assets gross
(479)
(470)
Unrecognised
504
687
114 Annual Report 2009 - Heineken N.V.
