- - - Report of the Report of the Contents Overview Executive Board Supervisory Board Financial statements Other information Impairment losses The ageing of trade and other receivables (excluding current derivatives) at the reporting date was: In millions of EUR Gross 2013 Impairment 2013 Gross 2012 Impairment 2012 Not past due 2,016 (83) 2,052 (49) Past due 0-30 days 281 (15) 323 (14) Past due 31 -120 days 191 (33) 213 (67) More than 120 days 312 (287) 373 (331) 2,800 (418) 2,961 (461) The movement in the allowance for impairment in respect of trade and other receivables (excluding current derivatives) during the year was as follows: In millions of EUR 2013 2012 Balance as at 1 January 461 478 Changes in consolidation (3) 1 Impairment loss recognised 66 104 Allowance used (66) (60) Allowance released (32) (66) Effect of movements in exchange rates (8) 4 Balance as at 31 December 418 461 The movement in the allowance for impairment in respect of loans during the year was as follows: In millions of EUR 2013 2012 Balance as at 1 January 158 170 Changes in consolidation 3 Impairment loss recognised 38 Allowance used 5 Allowance released (14) (53) Effect of movements in exchange rates (2) 3 Balance as at 31 December 150 158 Impairment losses recognised for trade and other receivables (excluding current derivatives) and loans are part of the other non-cash items in the consolidated statement of cash flows. The net release in the allowance of EUR14 million (2012: EUR15 million) in respect of loans and the income statement impact of EUR34 million (2012: EUR38 million) in respect of trade receivables (excluding current derivatives) were included in expenses for raw materials, consumables and services. The allowance accounts in respect of trade and other receivables and held-to-maturity investments are used to record impairment losses, unless HEINEKEN is satisfied that no recovery of the amount owing is possible, at that point the amount considered irrecoverable is written off against the financial asset. Liquidity risk Liquidity risk is the risk that HEINEKEN will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. HEINEKEN's approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to HEINEKEN's reputation. Heineken N.V. Annual Report 2013 115

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2013 | | pagina 116