28. Employee benefits
Plan assets comprise:
Liability for defined benefit obligations
Movements in the present value of the defined benefit obligations
124 Annual Report 2009 - Heineken N.V.
Financial Statements
Notes to the consolidated financial statements
2009
2008
Present value of unfunded obligations
198
266
Present value of funded obligations
5,738
4,697
Total present value of obligations
5,936
4,963
Fair value of plan assets
(4,858)
(4,231)
Present value of net obligations
1,078
732
Actuarial (losses)/gains not recognised
(548)
(143)
Recognised liability for defined benefit obligations
530
589
Other long-term employee benefits
104
99
634 688
In millions of EUR2009 2008
Equity securities
2,195
1,593
Government bonds
2,119
1,955
Properties and real estate
385
333
Other plan assets
159
350
4,858
4,231
Heineken makes contributions to a number of defined benefit plans that provide pension benefits for employees
upon retirement in a number of countries being mainly: the Netherlands, the UK, Greece, Austria, Italy, France,
Spain and Nigeria. In other countries the pension plans are defined contribution plans and/or similar
arrangements for employees.
Other long-term employee benefits mainly relate to long-term bonus plans, termination benefits and
jubilee benefits.
In millions of EUR2009 2008
4,963
Changes in consolidation and reclassification (6) 2,973
Effect of movements in exchange rates 153 (494)
(255) (199)
Current service costs and interest on obligation (see below) 363 333
Past service costs 12 5
Effect of any curtailment or settlement (16) (18)
Actuarial (gainsj/losses722(495)
Defined benefit obligations as at 31 December5,9364,963
