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

Jaarverslagen en Personeelsbladen Heineken

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