Restructuring The provision for restructuring of EUR 171 million mainly relates to restructuring programmes in Spain and the UK. Provisions made during the year are mostly related to TCM. These restructuring expenses have been included in the personnel expenses (see note 10). Other provisions Included are, amongst others, surety provided EUR61 million (2008: EUR28 million), litigations and claims EUR50 million (2008: EUR59 million) and environmental provisions EUR8 million (2008: EUR17 million). 31. Trade and other payables In millions of EUR Note 2009 2008 ade payables 1,361 1,563 Returnable packaging deposits 408 427 Taxation and social security contributions 551 553 Dividend 24 76 Interest 134 104 Derivatives used for hedge accounting 94 87 Other payables 233 291 cruals and deferred income 891 745 3,696 3,846 32. Financial risk management and financial instruments verview 1 eineken has exposure to the following risks from its use of financial instruments, as they arise in the normal course of Heineken's business: Credit risk Liquidity risk Market risk. ris note presents information about Heineken's exposure to each of the above risks, and it summarises 1 eineken's policies and processes that are in place for measuring and managing risk, including those related t capital management. Further quantitative disclosures are included throughout these consolidated financial s atements. f sk management framework te Executive Board, under the supervision of the Supervisory Board, has overall responsibility and sets rules r Heineken's risk management and control systems. They are reviewed regularly to reflect changes in market editions and the Group's activities. The Executive Board oversees the adequacy and functioning of the entire stem of risk management and internal control, assisted by Group departments. ie Group Treasury function focuses primarily on the management of financial risk and financial resources, me of the risk management strategies include the use of derivatives, primarily in the form of spot and rward exchange contracts and interest rate swaps, but options can be used as well. It is the Group policy t at no speculative transactions are entered into. Annual Report 2009 - Heineken N.V.

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2009 | | pagina 125