Notes to the consolidated financial statements continued - - Report of the Report of the Contents Overview Executive Board Supervisory Board Financial statements Other information 32. Financial risk management and financial instruments Impairment losses The ageing of trade and other receivables (excluding current derivatives) at the reporting date was: In millions of EUR Gross 2014 Impairment 2014 Gross 2013 Impairment 2013 Not past due 2,296 (76) 2,016 (83) Past due 0-30 days 185 (9) 281 (15) Past due 31-120 days 197 (36) 191 (33) More than 120 days 347 (283) 312 (287) 3,025 (404) 2,800 (418) 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 2014 2013 Balance as at 1 January 418 461 Changes in consolidation 2 (3) Impairment loss recognised 85 66 Allowance used (38) (66) Allowance released (66) (32) Effect of movements in exchange rates 3 (8) Balance as at 31 December 404 418 The movement in the allowance for impairment in respect of loans to customers during the year was as follows: In millions of EUR 2014 2013 Balance as at 1 January 150 158 Changes in consolidation 3 Impairment loss recognised 10 Allowance used (21) 5 Allowance released (6) (14) Effect of movements in exchange rates 2 (2) Balance as at 31 December 135 150 Impairment losses recognised for trade and other receivables (excluding current derivatives) and loans to customers are part of the other non-cash items in the consolidated statement of cash flows. The income statement impact of EUR4 million (2013: EUR14 million) in respect of loans to customers and EUR19 million (2013: EUR34 million) in respect of trade and other 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 ElEINEKEN 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 EIEINEKEN will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. ElEINEKEN's approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidityto meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to EHEINEKEN's reputation. 116 Eleineken N.V. Annual Report 2014

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2014 | | pagina 118