Notes to the Consolidated Financial Statements continued - - Reportofthe Reportofthe Financial Other Contents Overview Executive Board Supervisory Board Statements Information 32. Financial risk management and financial instruments continued Impairment losses The ageing of trade and other receivables (excluding current derivatives) at the reporting date was: In millions of EUR Gross 2015 Impairment 2015 Gross 2014 Impairment 2014 Not past due 2,475 (54) 2,296 (49) Past due 0-30 days 207 (13) 185 (11) Past due 31-120 days 233 (64) 197 (61) More than 120 days 347 (310) 347 (283) 3,262 (441) 3,025 (404) 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 2015 2014 Balance as at 1 January 404 418 Changes in consolidation 7 2 Impairment loss recognised 103 85 Allowance used (29) (38) Allowance released (42) (66) Effect of movements in exchange rates (2) 3 Balance as at 31 December 441 404 The movement in the allowance for impairment in respect of loans to customers during the year was as follows: In millions of EUR 2015 Balance as at 1 January 135 150 Changes in consolidation 1 Impairment loss recognised 10 Allowance used (21) Allowance released (14) (6) Effect of movements in exchange rates (1) 2 Balance as at 31 December 121 135 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 EUR14 million gain (2014: EUR4 million expense) in respect of loans to customers and EUR61 million expense(2014: EUR19 million expense) 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 HEINEKEN 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 HEINEKEN will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. HEINEKEN's approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due. under both normal and stressed conditions, without incurring unacceptable losses or risking damage to HEINEKEN's reputation. 118 Helneken N.V. Annual Report 2015

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2015 | | pagina 119