Notes to the Consolidated Financial Statements continued - - - - - Reportofthe Reportofthe Financial Other Contents Overview Executive Board Supervisory Board Statements Information 2015 Income tax using the Company's domestic tax rate 25.0 667 25.0 573 Effect of tax rates in foreign jurisdictions 2.1 57 3.8 87 Effect of non-deductible expenses 4.2 111 2.7 61 Effect of tax incentives and exempt income (7.7) (205) (4.0) (93) Recognition of previously unrecognised temporary differences (0.1) (3) (0.2) (5) Utilisation or recognition of previously unrecognised tax losses (0.2) (4) (0.1) (3) Unrecognised current year tax losses 0.8 21 0.7 17 Effect of changes in tax rate 0.8 20 0.4 10 Withholding taxes 1.9 50 2.6 60 Undercover) provided in prior years (1.3) (36) 0.3 8 Other reconciling items 0.7 19 0.7 17 26.2 697 31.9 732 The effective tax rate 2015 includes the gain on sale of EMPAQUE, which was tax exempt, while the effective tax rate 2014 included one-off tax items with an overall negative tax impact. The line 'effect of non-deductible expenses' includes the impact of impairments for which no tax benefit could be recognised (refer to note 14). Income tax recognised in other comprehensive income In millions of EUR Note 2015 Changes in fair value reserve (3) 3 Changes in hedging reserve 14 11 Changes in translation reserve 77 108 Changes as a result of actuarial gains and losses (33) 96 24 55 218 14. Property, plant and equipment In millions of EUR Note Land and buildings Plant and equipment Other fixed assets Under construction Total Cost Balance as at 1 January 2014 4,934 6,905 4,616 705 17,160 Changes in consolidation 9 2 1 12 Purchases 83 279 471 686 1,519 Transfer of completed projects under construction 91 383 149 (623) Transfer (to)/from assets classified as held for sale (72) (175) 7 (4) (244) Disposals (93) (90) (234) (1) (418) Effect of movements in exchange rates 37 I 41 30 109 Balance as at 31 December 2014 4,989 7,305 5,051 793 18,138 Balance as at 1 January 2015 4,989 7,305 5,051 793 18,138 Changes in consolidation 256 280 132 22 690 Purchases 84 99 428 1,029 1,640 Transfer of completed projects under construction 240 607 206 (1,053) Transfer (to)/from assets classified as held for sale (50) (1) (8) (59) Disposals (54) (126) (354) (3) (537) Effect of movements in exchange rates 15 (54) (47) (86) Balance as at 31 December 2015 5,480 8,110 5,408 788 19,786 93 Heineken N.V. Annual Report 2015

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2015 | | pagina 94