Financial statements I Notes to the consolidated financial statements continued
32. Financial risk management and financial instruments :ontinued
Available-for-sale investments
70
-
120
Non-current derivative assets
-
135
-
Current derivative assets
-
10
-
Investments held for trading
17
-
-
87
145
120
Non-current derivative liabilities
-
291
-
Current derivative liabilities
-
66
-
357
In millions of EUR
2011
2010
Available-for-sale investments based on Level 3
Balance as at 1 January
120
162
Fair value adjustments recognised in other comprehensive income
61
(8)
Disposals
-
(26)
Transfers
2
(8)
Balance as at 31 December
183
120
33. Off-balance sheet commitments
Total 2011
Less than
1 year
1-5 years
More than
5 years
Lease operational lease commitments
503
124
258
121
433
Property, plant equipment ordered
50
45
2
3
49
Raw materials purchase contracts
3,843
1,413
2,134
296
4,503
Other off-balance sheet obligations
2,589
509
1,277
803
1,943
Off-balance sheet obligations
6,985
2,091
3,671
1,223
6,928
Undrawn committed bank facilities
1,274
233
1,041
-
2,188
HEINEKEN leases buildings, cars and eguipment in the ordinary course of business.
Raw material contracts include long-term purchase contracts with suppliers in which prices are fixed or will be agreed based upon predefined price
formulas. These contracts mainly relate to malt, bottles and cans.
During the year ended 31 December 2011 EUR241 million (2010: EUR22A million) was recognised as an expense in profit or loss in respect of operating
leases and rent.
Other off-balance sheet obligations mainly include distribution, rental, service and sponsorship contracts.
Committed bank facilities are credit facilities on which a commitment fee is paid as compensation for the bank's reguirement to reserve capital.
For the details of these committed bank facilities see note 25. The bank is legally obliged to provide the facility under the terms and conditions
of the agreement.
136
Heineken N.V. Annual Report 2011