Notes to the Consolidated Financial Statements continued
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Contents Overview Executive Board Supervisory Board Statements Information
HEINEKEN has a dear focus on ensuring sufficient access to capital markets to finance long-term growth and to refinance maturing debt obligations.
Financing strategies, including the diversification of funding sources are under continuous evaluation (information about borrowing facilities is presented in
Note 25). In addition. HEINEKEN seeks to align the maturity profile of its long-term debts with its forecasted cash flow generation. Strong cost and cash
management and controls over investment proposals are in place to ensure effective and efficient allocation of financial resources.
Contractual maturities
The following are the contractual maturities of non-derivative financial liabilities and derivative financial assets and liabilities, including interest payments:
2015
In millions of EUR
Carrying
amount
Contractual
cash flows
Less than
1 year
1 -2 years
2-5 years
More than
5 years
Financial liabilities
Interest-bearing liabilities
(12,565)
(14,750)
(2,014)
(1,742)
(5,193)
(5,801)
Trade and other payables (excluding interest payable,
dividends and derivatives and including non-current part)
(5,744)
(5,744)
(5,658)
(62)
(12)
(12)
Derivative financial assets and (liabilities)
Interest rate swaps used for hedge
accounting (net)
214
265
20
15
230
Forward exchange contracts used for hedge
accounting (net)
(2)
(16)
(12)
(4)
Commodity derivatives used for hedge
accounting (net)
(70)
(70)
(42)
(20)
(8)
Derivatives not used for hedge
accounting (net)
(1)
(1)
(1)
(18,168)
(20,316)
(7,707)
(1,813)
(4,983)
(5,813)
2014
In millions of EUR
Carrying
amount
Contractual
cash flows
Less than
1 year
1 -2 years
2-5 years
More than
5 years
Financial liabilities
Interest-bearing liabilities
(11,757)
(14,202)
(2,831)
(876)
(4,269)
(6,226)
Trade and other payables (excluding interest payable,
dividends and derivatives and including non-current part)
(5,252)
(5,252)
(5,252)
Derivative financial assets and (liabilities)
Interest rate swaps used for hedge
accounting (net)
163
238
96
12
130
Forward exchange contracts used for hedge
accounting (net)
(64)
(66)
(60)
(6)
Commodity derivatives used for hedge
accounting (net)
(11)
(10)
(7)
(3)
Derivatives not used for hedge
accounting (net)
19
19
19
(3)
3
(16,902)
(19,273)
(8,035)
(876)
(4,136)
(6,226)
119 Heineken N.V. Annual Report 2015
