5. Operating segments 99 (viii) Non-derivative financial instruments Fair value, which is determined for disclosure purposes or when fair value hedge accounting is applied, is calculated based on the present value of future principal and interest cash flows, discounted at the market rate of interest at the reporting date. For finance leases the market rate of interest is determined by reference to similar lease agreements. Heineken distinguishes the following six reportable segments: Western Europe Central and Eastern Europe The Americas Africa and the Middle East Asia Pacific Head Office/eliminations. These six reportable segments are the Group's business regions. These business regions are each managed separately by a regional president. The regional president is directly accountable for the functioning of the segment's assets, liabilities and results of the region and maintains regular contact with the Executive Board (the chief operating decision maker) to discuss operating activities, regional forecasts and regional results. 1 r each of the six reportable segments, the Executive Board reviews internal management reports on a monthly basis. 1 formation regarding the results of each reportable segment is included in the table on the next page. P rformance is measured based on EBIT (beia), as included in the internal management reports that are n viewed by the Executive Board. EBIT (beia) is defined as earnings before interest and taxes and net finance penses, before exceptional items and amortisation of brands and customer relationships. Exceptional items are defined as items of income and expense of such size, nature or incidence, that in view of management their 1 sclosure is relevant to explain the performance of Heineken for the period. EBIT and EBIT (beia) are not lancial measures calculated in accordance with IFRS. EBIT (beia) is used to measure performance as r anagement believes that this measurement is the most relevant in evaluating the results of these regions. 1 ineken has multiple distribution models to deliver goods to end customers. There is no reliance on major c cnts. Deliveries to end consumers are carried in some countries via own wholesalers or own pubs, in other 1 arkets directly and in some others via third parties. As such, distribution models are country specific and c consolidated level diverse. In addition, these various distribution models are not centrally managed or 1 onitored. Consequently, the Executive Board is not allocating resources and assessing the performance based business type information and therefore no segment information is provided on business type. li er-segment pricing is determined on an arm's length basis. As net finance expenses and income tax expenses e monitored on a consolidated level (and not on an individual regional basis) and regional presidents are not countable for that, net finance expenses and income tax expenses are not provided per reportable segment. Annual Report 2009 - Heineken N.V.

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2009 | | pagina 96