Notes to the Consolidated Financial Statements continued
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Reportofthe Reportofthe Financial Other
Contents Overview Executive Board Supervisory Board Statements Information
25. Loans and borrowings continued
Net interest-bearing debt position
In millions of EUR
Note
2015
Non-current interest-bearing liabilities
10,626
9,491
Current portion of non-current interest-bearing liabilities
802
1,107
Deposits from third parties (mainly employee loans)
595
564
12,023
11,162
Bank overdrafts and commercial papers
21
542
595
Market value of cross-currency interest rate swaps
32
(215)
(166)
12,350
11,591
Cash, cash equivalents and current other investments
17/21
(840)
(681)
Net interest-bearing debt position
11,510
10,910
1 Restated to reflect the revised net debt definition.
HEINEKEN has amended its net debt definition to include derivative financial instruments designated as cash flow hedges if these hedges are considered
to be inextricably linked to the underlying borrowings because they are used to mitigate the foreign currency exchange risk arising from foreign currency
borrowings. The change in this definition has resulted in a reduction in net debt of EUR215 million at 31 December 2015 (2014: EUR166 million).
Non-current liabilities
Non-
Other
current
non-current
non-
Finance
interest-
Non-
interest-
Unsecured
Unsecured
Secured
lease
bearing
current
bearing
In millions of EUR
bond issues
bank loans
bank loans
liabilities
liabilities
derivatives
liabilities
Total
Balance as at 1 January 2015
7,802
oo
45
10
1,153
8
9,499
Consolidation changes
133
2
135
Effect of movements in
exchange rates
3
(26)
(1)
(2)
(3)
(29)
Transfers to current liabilities
(390)
(364)
(4)
(3)
(55)
(81)
(3)
(900)
Charge to/(from) equity in relation
to derivatives
(69)
100
24
55
Proceeds
1,510
180
1
1
9
827
2
2,530
Repayments
(10)
(278)
(1)
(45)
(684)
(6)
(1,024)
Other
423
(4)
1
22
(60)
10
392
Balance as at 31 December 2015
9,269
126
38
10
1,183
32
10,658
104 Heineken N.V. Annual Report 2015
