Exposure to credit risk
The carrying amount of financial assets represents the maximum credit exposure. The maximum exposure to credit risk at the reporting date was:
Note
2011
Loans and advances to customers
17
384
455
Indemnification receivable
17
156
145
Other long-term receivables
17
178
174
Held-to-maturity investments
17
5
4
Available-for-sale investments
17
264
190
Non-current derivatives
17
142
135
Investments held for trading
17
14
17
Trade and other receivables, excluding current derivatives
20
2,223
2,263
Current derivatives
20
37
10
Cash and cash equivalents
21
813
610
4,216
4,003
The maximum exposure to credit risk for trade and other receivables (excluding derivatives) at the reporting date by geographic region was:
In millions of EUR 2011 2010
Western Europe
1,038
448
405
166
19
147
2,223
997
Central and Eastern Europe
458
The Americas
497
Africa and the Middle East
151
Asia Pacific
19
Head Office/eliminations
141
2,263
Impairment losses
The ageing of trade and other receivables (excluding derivatives) at the reporting date was:
In millions of EUR Gross 2011 Impairment 2011
Not past due
1,909 (67)
1,894
(49)
Past due 0-30 days
233 (17)
250
(21)
Past due 31-120 days
210 (83)
271
(106)
More than 120 days
349 (311)
294
(270)
2,701 (478)
2,709
(446)
Heineken N.V. Annual Report 2011
127
