Notes to the Consolidated
Financial Statements
Report of the
Report of the
Contents
Overview
Executive Board
Supervisory Board
Financial
statements
Other
information
1. Reporting entity
Heineken N.V. (the'Company') is a company domiciled in the Netherlands. The address of the Company's registered office is Tweede
Weteringplantsoen 21, Amsterdam. The consolidated financial statements of the Company as at and for the year ended 31 December 2014
comprise the Company its subsidiaries (together referred to as'HEINEKEN' and individually as'HEINEKEN' entities) and HEINEKEN's interest
in jointly controlled entities and associates.
Disclosures on subsidiaries, jointly controlled entities and associates are included in notes 36 and 16 respectively.
HEINEKEN is primarily involved in the brewing and selling of beer.
2. Basis of preparation
(a) Statement of compliance
The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS)
as endorsed by the EU and also comply with the financial reporting reguirements included in Part 9 of Book 2 of the Dutch Civil Code.
All standards and interpretations issued by the International Accounting Standards Board (IASB) and the International Financial Reporting
Interpretations Committee (IFRIC) effective year-end 2014 have been adopted by the EU. Conseguently, the accounting policies applied
by the Company also comply fully with IFRS as issued by the IASB.
The consolidated financial statements have been prepared by the Executive Board of the Company and authorised for issue on 10 February
2015 and will be submitted for adoption to the Annual General Meeting of Shareholders on 23 April 2015.
(b) Basis of measurement
The consolidated financial statements have been prepared on the historical cost basis unless otherwise indicated.
The methods used to measure fair values are discussed further in notes 3 and 4.
(c) Functional and presentation currency
These consolidated financial statements are presented in Euro, which is the Company's functional currency. All financial information presented
in Euro has been rounded to the nearest million unless stated otherwise.
(d) Use of estimates and judgements
The preparation of consolidated financial statements in conformity with IFRSs reguires management to make judgements, estimates and
assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expenses.
Actual results may differ from these estimates.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period
in which the estimates are revised and in any future periods affected.
In particular, information about assumptions and estimation uncertainties and critical judgements in applying accounting policies that have
the most significant effect on the amounts recognised in the consolidated financial statements are described in the following notes:
Note 6Acguisitionsand disposals of subsidiaries and non-controlling interests
Note 15 Intangible assets
Note 16 Investments in associates and joint ventures
Note 17 Other investments and receivables
Note 18 Deferred tax assets and liabilities
Note 28 Employee benefits
Note 30 Provisions
Note 32 Financial risk management and financial instruments
Note 34 Contingencies
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Heineken N.V. Annual Report 2014