Overview Report of the Executive Board Report of the Supervisory Board Financial statements Other information 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 2012 Present value of unfunded obligations 113 96 Present value of funded obligations 7,788 6,804 Total present value of obligations 7,901 6,900 Fair value of defined benefit plan assets (6,401) (5,860) Present value of net obligations 1,500 1,040 Asset ceiling items 1 14 Recognised liability for defined benefit obligations 1,501 1,054 Other long-term employee benefits 131 120 1,632 1,174 Defined benefit plan assets comprise: 2012 Equity securities 2,867 2,520 Government bonds 2,726 2,534 Properties and real estate 429 410 Other plan assets 379 396 6,4015,860 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 119

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2012 | | pagina 121