Recognised in other comprehensive income
2011
Foreign currency translation differences for foreign operations
(493)
390
Effective portion of changes in fair value of cash flow hedges
(21)
43
Effective portion of cash flow hedges transferred to profit or loss
(11)
45
Ineffective portion of cash flow hedges transferred to profit or loss
-
9
Net change in fair value of available-for-sale investments
71
11
Net change in fair value available-for-sale investments transferred to profit or loss
(1)
(17)
Actuarial (gains) and losses
(93)
99
Share of other comprehensive income of associates/joint ventures
(5)
(29)
(553)
551
Recognised in:
Fair value reserve
69
(10)
Fledging reserve
(42)
97
Translation reserve
(482)
358
Other
(98)
106
(553)
551
Comparatives have been adjusted due to the accounting policy change in employee benefits (see note 2e)
The negative impact of foreign currency translation differences for foreign operations in other comprehensive income is mainly due to the impact
of devaluation of the Mexican peso on the net assets and goodwill measured in Mexican peso of total EUR295 million. Remaining impact is related
to the depreciation of the Polish zloty, the Chilean peso, Nigerian nairaand Belarusian ruble, partly offset by the revaluation of the US dollar and the
British pound.
13. Income tax expense
Recognised in profit or loss
In millions of EUR
2011
2010*
Current tax expense
Current year
502
502
Undercover) provided in prior years
(26)
52
476
554
Deferred tax expense
Origination and reversal of temporary differences
17
(19)
Previously unrecognised deductible temporary differences
(9)
(2)
Changes in tax rate
1
3
Utilisation/(benefit) of tax losses recognised
(19)
(39)
Undercover) provided in prior years
(1)
(94)
(11)
(151)
Total income tax expense in profit or loss
465
403
Heineken N.V. Annual Report 2011
101