102
Financial statements Notes to the consolidated financial statements
19. Inventories
2010
Raw materials
241
17
Work in progress
147
132
Finished products
261
140
Goods for resale
231
Non-returnable packaging
120
107
Other inventories
206
192
1,206
1,010
During 2010 and 2009 no write-down of inventories to net realisable value was required.
20. Trade and other receivables
In millions of EUR
2010
Trade receivables due from associates and joint ventures
102
Trade receivables
1,680
1,730
Other receivables
481
453
Derivatives
10
2,273
2,310
A net impairment loss of EUR115 million (2009: EUR64 million) in respect of trade and other receivables was included in expenses
for raw materials, consumables and services.
21. Cash and cash equivalents
2010
Bank balances
430
482
Call deposits
180
Cash and cash equivalents
32
610
520
Bank overdrafts
(132)
(156)
Cash and cash equivalents in the statement of cash flows
478
364
22. Capital and reserves
Share issuance
On 30 April 2010 Heineken N.V. issued 86,028,019 ordinary shares with a nominal value of EUR1.60, as a result of which the issued
share capital consists of 576,002,613 shares. To these shares a share premium value was assigned of EUR2.701 million based on
the quoted market price value of 43,018,320 shares Heineken N.V. and 43,009,699 shares Heineken Holding N.V. combined being
the share consideration paid to Fomento Económico Mexicano, S.A.B. de C.V. (FEMSA) for its beer operations.
Allotted Share Delivery Instrument
In addition to the shares issued to FEMSA, Heineken also committed itself to deliver 29,172,504 additional shares to FEMSA (the
'Allotted Shares') over a period of no longer than five years. This financial instrument is classified to be equity as the number
of shares is fixed. Heineken N.V. has the option to accelerate the delivery of the Allotted Shares at its discretion. Pending delivery
of the Allotted Shares, Heineken N.V. will pay a coupon on each undelivered Allotted Share such that FEMSA will be compensated,
on an after tax basis, for dividends FEMSA would have received had all such Allotted Shares been delivered to FEMSA on or prior
to the record date for such dividends. During the period of 8 March through 31 December 2010 Heineken N.V. acquired 10,765,258
shares with an average quoted market price of EUR35.85. During the year a total of 10,240,553 shares were delivered to FEMSA
under the ASDI.
