Notes to the consolidated financial statements continued
32. Financial risk management and financial instruments :ontinued
2012
Available-for-sale investments based on level 3
Balance as at 1 January
183
120
Fair value adjustments recognised in other comprehensive income
1
61
Disposals
(50)
134
-
Transfers
2
Balance as at 31 December
183
33. Off-balance sheet commitments
Less than
Total 2012 1 year
More than
1 -5 years 5 years
Lease operational lease commitments
618 143
302
173
503
Property, plant equipment ordered
136 133
3
-
50
Raw materials purchase contracts
3,806 1,416
2,227
163
3,843
Other off-balance sheet obligations
2,139 400
1,129
610
2,589
Off-balance sheet obligations
6,699 2,092
3,661 946
6,985
Undrawn committed bank facilities
1,832 121
1,711
-
1,274
HEINEKEN leases buildings, cars and equipment in the ordinary course of business.
Raw material contracts include long-term purchase contracts with suppliers in which prices are fixed or will be agreed based upon predefined price
formulas. These contracts mainly relate to malt, bottles and cans.
During the year ended 31 December 2012 EUR265 million (2011: EUR241 million) was recognised as an expense in profit or loss in respect of operating
leases and rent.
Other off-balance sheet obligations mainly include distribution, rental, service and sponsorship contracts.
Committed bank facilities are credit facilities on which a commitment fee is paid as compensation for the bank's requirement to reserve capital. For the
details of these committed bank facilities see note 25. The bank is legally obliged to provide the facility under the terms and conditions of the agreement.
136
Heineken N.V. Annual Report 2012