Notes to the Consolidated
Financial Statements
Reportofthe Reportofthe Financial Other
Contents Overview Executive Board Supervisory Board Statements 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
21Amsterdam. The consolidated financial statements of the Company as at and for the year ended 31 December 2015 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. The Company is registered in the Trade Register of Amsterdam No. 33011433.
Disclosures on subsidiaries, jointly controlled entities and associates are included in notes 16 and 36 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
European Union (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 2015 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 9 February 2016 and will
be submitted for adoption to the Annual General Meeting of Shareholders on 21 April 2016.
(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 IFRS 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 6 Acguisitions and 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
67 Heineken N.V. Annual Report 2015