In particular, information about assumptions and estimation uncertainties and critical judgements in applying accounting policies that have the most significant effect on the amounts recognised in the consolidated financial statements are described in the following notes: Note 6 Acquisitions and disposals of subsidiaries and non-controlling interests Note 15 Intangible assets Note 16 Investments in associates and joint ventures Note 17 Other investments and receivables Note 18 Deferred tax assets and liabilities Note 28 Employee benefits Note 29 Share-based payments - Long-Term Variable award (LTV) Note 30 Provisions Note 32 Financial risk management and financial instruments Note 34 Contingencies. (e) Changes in accounting policies Accounting for employee benefits On 1 January 2011 HEINEKEN changed its accounting policy with respect to the recognition ofactuarial gains and losses arising from defined benefit plans. After the policy change, HEINEKEN recognises all actuarial gains and losses arising immediately in other comprehensive income (OCI). In prior years, HEINEKEN applied the corridor method. To the extent that any cumulative unrecognised actuarial gain or loss exceeds ten percent of the greater of the present value of the defined benefit obligation and the fair value of plan assets, that portion was recognised in profit or loss over the expected average remaining working lives of the employees participating in the plan. Otherwise, the actuarial gain or loss was not recognised. As such, this change means that deferral of actuarial gains and losses within the corridor are no longer applied. HEINEKEN believes this accounting policy change provides more relevant information as all amounts will be recognised on balance, which is consistent with industry practice and in accordance with the amended reporting standard of Employee Benefits as issued by the International Accounting Standards Board on 16 June 2011. The change in accounting policy was recognised retrospectively in accordance with IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors', and comparatives have been restated. This results in a EUR15 million and EUR11 million positive impact on 'Results from operating activities' and 'Net profit'for the year ended 31 December 2010, respectively. The adjustment results in a EUR296 million decline in 'Total Equity'for the full year 2010 on Group level. No statement of financial position as at 1 January 2010 has been included. The information included below provides insight in all balance sheet items affected by this change in policy. The following table summarises the transitional adjustments on implementation of the new accounting policy for the full year 2010: Employee Benefit Deferred Tax Retained earnings/ In millions of EURobligationAssetsprofit or loss Balance as reported at 1 January 2010 634 561 4,408 Effect of policy change on 1 January 2010 retained earnings 548 151 (397) Restated balance at 1 January 2010 1,182 712 4,011 Balance as reported at 31 December 2010 687 429 5,125 Effect of policy change during 2010 on retained earnings 410 113 (307) P&L impact for the period 2010 - - 11 1,097 542 4,829 The 2010 amounts as included in the notes to these consolidated financial statements as at and for the year ended 31 December 2010 have been restated as a result of this policy change. Heineken N.V. Annual Report 2011 75

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2011 | | pagina 77