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.
