Notes to the consolidated financial statements continued
m
18. Deferred tax assets and liabilities continued
Movement in deferred tax balances during the year
Effect of
Balance
movements
Balance
1 January
Changes in
in foreign
Recognised
Recognised
31 December
2011
consolidation
exchange
in income
in equity
Transfers
Property, plant equipment
(464)
20
(10)
-
(2)
(497)
Intangible assets
(727)
(18)
38
25
-
-
(682)
Investments
78
-
(7)
14
-
-
85
Inventories
27
-
-
(16)
-
-
11
Loans and borrowings
(1)
-
2
2
-
-
3
Employee benefits
265
-
-
(17)
16
-
264
Provisions
134
1
-
13
-
3
151
Other items
26
-
(5)
(19)
8
(2)
8
Tax losses carry forward
213
7
(2)
19
237
Net tax assets/fliabilities)
(449)
(51)
46
11
24
(1)
(420)
Effect of
Balance
movements
Balance
1 January
Changes in
in foreign
Recognised
Recognised
31 December
In millions of EUR
2012
consolidation
exchange
in income
in equity
Transfers
2012
Property, plant equipment
(497)
(66)
(5)
(54)
-
2
(620)
Intangible assets
(682)
(921)
6
59
-
5
(1,533)
Investments
85
(4)
4
37
(2)
2
122
Inventories
11
(18)
1
22
-
(3)
13
Loans and borrowings
3
-
(2)
-
-
1
2
Employee benefits
264
6
6
2
123
(4)
397
Provisions
151
(9)
3
(34)
-
(3)
108
Other items
8
9
(9)
70
(40)
9
47
Tax losses carry forward
237
1
4
6
-
(10)
238
Net tax assets/fliabilities)
(420)
(1,002)
8
108
81
(1)
(1,226)
19. Inventories
2012
Raw materials
320
263
Work in progress
176
150
Finished products
407
354
Goods for resale
207
205
Non-returnable packaging
191
143
Other inventories and spare parts
295
237
1,596
1,352
During 2012 and 2011 no write-down of inventories to net realisable value was required.
110
Heineken N.V. Annual Report 2012
