Acquisition related intangible assets
Acquisition related intangible assets are assets that HEINEKEN only recognises as part of a purchase price allocation following an acquisition.
This includes amongst others brands, customer-related and certain contract-based intangibles.
Allotted share delivery instrument (ASDI) representing HEINEKEN's obligation to deliver Heineken N.V. shares, either through issuance
and/or purchasing of its own shares.
Before exceptional items and amortisation of acquisition related intangible assets.
Cash conversion ratio
Free operating cash flow/Net profit (beia) before deduction of non-controlling interests.
Sales by distributors to the retail trade.
Proposed dividend as percentage of net profit (beia).
Earnings per share
Net profit divided by the weighted average number of shares - basic - during the year.
Net profit divided by the weighted average number of shares - diluted - during the year.
Earnings before interest and taxes and net finance expenses. EBIT includes HEINEKEN's share in net profit of associates and joint ventures.
Earnings before interest and taxes and net finance expenses before depreciation and amortisation.
Effective tax rate
Income tax expense expressed as a percentage of the profit before income tax. adjusted for share of profit of associates and joint ventures and
impairments thereof (net of income tax).
Exceptional items and amortisation of acquisition-related intangible assets.
Fixed costs include personnel costs, depreciation and amortisation, repair and maintenance costs, energy and water, and other fixed costs.
Exceptional items are excluded from these costs.
Free operating cash flow
This represents the total of cash flow from operating activities, and cash flow from operational investing activities.
The Innovation Rate is calculated as revenues generated from innovations launched introduced in the past twelve quarters divided by revenue
Non-current and current interest-bearing loans and borrowings and bank overdrafts less investments held for trading and cash.
Heineken N.V. Annual Report 2012