Notes to the consolidated financial statements continued 26. Finance lease liabilities Finance lease liabilities are payable as follows: Present Future value of minimum minimum lease lease payments Interest payments 2012 2012 2012 Present Future value of minimum minimum lease lease payments Interest payments Less than one year 16 - 16 7 (1) 6 Between one and five years 21 (1) 20 27 (1) 26 More than five years 2-2 7-7 39 (1) 38 41 (2) 39 27. Non-GAAP measures In the internal management reports HEINEKEN measures its performance primarily based on EBIT and EBIT (beia), these are non-GAAP measures not calculated in accordance with IFRS. A similar non-GAAP adjustment can be made to the IFRS profit or loss as defined in IAS 1 paragraph 7 being the total of income less expense. Exceptional items are defined as items of income and expense of such size, nature or incidence, that in the view of management their disclosure is relevant to explain the performance of HEINEKEN for the period. The table below presents the relationship with IFRS measures, the results from operating activities and profit and HEINEKEN non-GAAP measures being EBIT. EBIT (beia) and profit (beia) for the financial year 2012. HEINEKEN updated its non-GAAP measure definition to properly present the future impact of intangibles recognised in the APIPL/APB acquisition. Two specific types of contract based intangible assets (beer licences and reacquired rights), that are similar to brands and customer relations, were added and HEINEKEN now refers to this group as acquisition related intangible assets. The update of the definition has no impact on prior years. 2012* Results from operating activities 3,691 2,215 Share of profit of associates and joint ventures and impairments thereof (net of income tax) 213 240 HEINEKEN EBIT 3,904 (992) 2,912 2,455 Exceptional items and amortisation of acquisition related intangible assets included in EBIT 242 HEINEKEN EBIT (beia) 2,697 Profit attributable to equity holders of the Company 2,949 1,430 Exceptional items and amortisation of acquisition related intangible assets included in EBIT (992) 242 Exceptional items included in finance costs (206) (14) Exceptional items included in tax expense (55) (74) HEINEKEN net profit beia 1,696 1,584 unaudited The 2012 exceptional items included in EBIT contain the amortisation of acquisition related intangibles for EUR198 million (2011: EUR170 million). Additional exceptional items included in EBIT relating to the APIPL/APB acquisition are the gain on PHEI for EUR1,486 million, the reversal of the inventory fair value adjustment in cost of goods sold for EUR76 million and acquisition related costs of EUR28 million. The remainder of EUR192 million primarily relates to restructuring activities in wholesale in Western Europe for EUR97 million, impairment of assets for EUR37 million. HEINEKEN's share in the write-off of deferred tax assets in an associate for EUR36 million and adjustments to an acquisition of EUR20 million outside the provisional period. Exceptional items in other net financing costs contain a pre-tax gain of EUR175 million for the sale of a minority stake in a brewery in the Dominican Republic, a book gain of the existing stake in BraNa of EUR20 million and fair value changes of interest rate swaps of Scottish Newcastle for EUR11 million that do not qualify for hedge accounting. 118 Heineken N.V. Annual Report 2012

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2012 | | pagina 120