Notes to the Consolidated Financial Statements continued
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Reportofthe Reportofthe Financial Other
Contents Overview Executive Board Supervisory Board Statements Information
Movement in deferred tax balances during the year
In millions of EUR
Balance
1 January
2015
Changes in
consolidation
Effect of
movements in
foreign
exchange
Recognised
in income
Recognised
in equity
Transfers
Balance
31 December
2015
Property, plant and equipment
(527)
(54)
23
6
(1)
(553)
Intangible assets
(1,257)
(261)
(3)
91
1
(1,429)
Investments
123
7
(7)
2
1
(2)
124
Inventories
19
(4)
10
1
26
Loans and borrowings
(9)
(13)
1
6
3
(12)
Employee benefits
365
4
(7)
(33)
2
331
Provisions
92
2
1
(25)
(19)
51
Other items
175
(12)
93
10
1
(69)
198
Tax losses carry forward
177
125
(14)
11
65
364
Net tax assets/(liabilities)
(842)
(197)
84
99
(25)
(19)
(900)
In millions of EUR
Balance
1 January
2014
Changes in
consolidation
Effect of
movements in
foreign
exchange
Recognised
in income
Recognised
in eguity
Transfers
Balance
31 December
2014
Property, plant and equipment
(536)
9
(22)
22
(527)
Intangible assets
(1,234)
(2)
(79)
40
18
(1,257)
Investments
119
1
1
2
123
Inventories
19
19
Loans and borrowings
1
(11)
(1)
2
(9)
Employee benefits
315
7
(36)
96
(17)
365
Provisions
101
2
(4)
(7)
92
Other items
59
98
(21)
14
25
175
Tax losses carry forward
220
(2)
(5)
(32)
(4)
177
Net tax assets/(liabilities)
(936)
(4)
22
(75)
110
41
(842)
19. Inventories
In millions of EUR
2015
Raw materials
247
297
Work in progress
223
181
Finished products
479
398
Goods for resale
197
240
Non-returnable packaging
195
166
Other inventories and spare parts
361
352
1,702 1,634
During 2015 inventories were written down by EUR23 million to net realisable value (2014: nil).
99 Heineken N.V. Annual Report 2015