Report of the
Report of the
The exceptional items in the tax expense are EUR53 million (2011: EUR47 million) related to acquisition related intangibles and the remainder
of EUR2 million represents the net impact of other exceptional items included in EBIT and finance cost.
EBIT and EBIT (beia) are not financial measures calculated in accordance with IFRS. The presentation on these financial measures may
not be comparable to similarly titled measures reported by other companies due to differences in the ways the measures are calculated.
28. Employee benefits
Present value of unfunded obligations
Present value of funded obligations
Total present value of obligations
Fair value of defined benefit plan assets
Present value of net obligations
Asset ceiling items
Recognised liability for defined benefit obligations
Other long-term employee benefits
Defined benefit plan assets comprise:
Properties and real estate
Other plan assets
The primary goal of the Heineken pension funds is to monitor the mix of debt and equity securities in its investment portfolio based on market
expectations. Material investments within the portfolio are managed on an individual basis.
Liability for defined benefit obligations
HEINEKEN makes contributions to a number of defined benefit plans that provide pension benefits for employees upon retirement in a number of
countries being mainly the Netherlands and the UK (82 per cent of the total DBO). Other countries with a defined benefit plan are: Ireland, Greece,
Austria, Italy, France, Spain, Mexico, Belgium, Switzerland, Portugal and Nigeria. In other countries the pension plans are defined contribution plans
and/or similar arrangements for employees.
In Ireland the defined benefit scheme for employees (actives) was closed in 2012 and was replaced by a defined contribution scheme.
Other long-term employee benefits mainly relate to long-term bonus plans, termination benefits, medical plans and jubilee benefits.
Heineken N.V. Annual Report 2012