30. Provisions
128 Annual Report 2009 - Heineken N.V.
Financial Statements
Notes to the consolidated financial statements
Based on RTSR and internal performance, it is expected that approximately 253,000 shares will vest in 2010.
The expenses relating to these expected additional grants are recognised in the income statement during the
performance period.
The number and weighted average share price per share is as follows:
Weighted average
share price 2009
in EUR
Number of
share rights
2009
Weighted average
share price 2008
in EUR
Number of
share rights
2008
Outstanding as at 1 January
37.48
905,537
30.10
696,616
Granted during the year
21.90
615,945
44.22
290,246
Forfeited during the year
-
(74,813)
-
(40,581)
Vested during the year
-
(292,921)
-
(40,744)
Outstanding as at 31 December
31.17
1,153,748
37.48
905,537
The 292,921 (gross) shares vested in 2009 are related to the 2006-2008 LT1P of senior management. No vesting
occurred under the 2006-2008 LTIP of the Executive Board.
The fair value of services received in return for share rights granted is based on the fair value of shares granted,
measured using the Monte Carlo model, with following inputs:
Senior Senior
Executive Executive Management Management
In EURBoard 2009 Board 2008 2009 2008
Fair value at grant date
512,359
411,670
8,478,659
7,409,515
Expected volatility
22.8%
18.4%
22.8%
18.4%
2.1%
1.7%
2.1%
1.7%
Personnel expenses
In millions of EUR
Note
2009
2008
Share rights granted in 2006
-
3
Share rights granted in 2007
3
4
Share rights granted in 2008
3
4
Share rights granted in 2009
4
-
Total expense recognised as personnel expenses
10
11
Onerous
in millions of EUR
Note
Restructuring
contracts
Other
Total
Balance as at 1 January 2009
180
65
257
502
Changes in consolidation
6
-
-
1
1
Provisions made during the year
98
2
91
191
Provisions used during the year
(88)
(9)
(35)
(132)
Provisions reversed during the year
(18)
-
(44)
(62)
Effect of movements in exchange rates
(2)
(3)
20
15
Unwinding of discounts
1
-
2
3
Balance as at 31 December 2009
171
55
292
518
Non-current
66
47
243
356
Current
105
8
49
162
171
55
292
518