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Report of the Report of the
Contents Overview Executive Board Supervisory Board
Financial
statements
Other information
32. Financial risk management and financial instruments
Fair values
The fair values of financial assets and liabilities that differ from the carrying amounts shown in the statement of financial position are
as follows:
In millions of EUR
Carrying
amount
2013
Fair value
2013
Carrying
amount
2012
Fair value
2012
Bank loans
(711)
(711)
(2,002)
(2,002)
Unsecured bond issues
(8,987)
(8,951)
(8,806)
(9,126)
Finance lease liabilities
(9)
(9)
(38)
(38)
Other interest-bearing liabilities
(1,742)
(1,742)
(1,840)
(1,840)
Basis for determining fair values
The significant methods and assumptions used in estimating the fair values of financial instruments reflected in the table above are
discussed in note 4
Fair value hierarchy
The tables below present the financial instruments accounted for at fair value by level of the following fair value measurement
hierarchy:
Quoted prices (unadjusted) in active markets for identical assets or liabilities (level 1)
Inputs other than guoted prices included within level 1 that are observable for the asset or liability, either directly (that is, as prices)
or indirectly (that is, derived from prices) (level 2)
Inputs for the asset or liability that are not based on observable market data (unobservable inputs) (level 3)
31 December 2013
Level 1
Level 2
Level 3
Available-for-sale investments
134
68
45
Non-current derivative assets
67
Current derivative assets
45
Investments held for trading
11
145
180
45
Non-current derivative liabilities
(47)
Current derivative liabilities
(149)
(196)
31 December 2012
Level 1
Level 2
Level 3
Available-for-sale investments
131
62
134
Non-current derivative assets
116
Current derivative assets
37
Investments held for trading
11
142
215
134
Non-current derivative liabilities - 111
Current derivative liabilities - 53
164
There were no transfers between level 1 and level 2 of the fair value hierarchy during the period ended 31 December 2013.
Heineken N.V. Annual Report 2013
122
