Notes to the Consolidated
1. Reporting entity
Heineken N.V. (the 'Company') is a company domiciled in the Netherlands. The address of the Company's registered office is
Tweede Weteringplantsoen 21, Amsterdam. The consolidated financial statements of the Company as at and for the year ended
31 December 2010 comprise the Company, its subsidiaries (together referred to as 'Heineken' or the 'Group' and individually as
'Heineken' entities) and Heineken's interest in jointly controlled entities and associates.
A summary of the main subsidiaries, jointly controlled entities and associates is included in note 36 and 16 respectively.
Heineken is primarily involved in the brewing and selling of beer.
2 Basis of preparation
(a Statement of compliance
The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as
endorsed by the EU and also comply with the financial reporting requirements included in Part 9 of Book 2 of the Dutch Civil Code.
Al standards and interpretations issued by the International Accounting Standards Board (IASB) and the International Financial
R oorting Interpretations Committee (IFRIC) effective year-end 2010 have been adopted by the EU, except that the EU carved
0 certain hedge accounting provisions of IAS 39. The Company does not utilise this carve-out permitted by the EU, as it is not
a olicable. Consequently, the accounting policies applied by the Company also comply fully with IFRS as issued by the IASB.
1 e Company presents a condensed income statement, using the facility of Article 402 of Part 9, Book 2, of the Dutch Civil Code.
T e consolidated financial statements have been prepared by the Executive Board of the Company and authorised for issue
o 15 February 2011 and will be submitted for adoption to the Annual General Meeting of Shareholders on 21 April 2011.
Basis of measurement
The consolidated financial statements have been prepared on the historical cost basis except for the following assets and liabilities
t it are measured at fair value:
Derivative financial instruments
Liabilities for equity-settled share-based payment arrangements
Long-term interest-bearing liabilities on which fair value hedge accounting is applied.
ie methods used to measure fair values are discussed further in note 4.
Functional and presentation currency
se consolidated financial statements are presented in euro, which is the Company's functional currency. All financial information
E sented in euro has been rounded to the nearest million unless stated otherwise.
Use of estimates and judgements
e preparation of consolidated financial statements in conformity with IFRSs requires management to make judgements, estimates
d assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and
penses. Actual results may differ from these estimates.
mates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the
"iod in which the estimates are revised and in any future periods affected.
ineken N.V. Annual Report 2010