112
Notes to the Consolidated Financial Statements (continued)
30. Financial risk management and financial instruments (continued)
Exposure to credit risk
Impairment losses
Heineken NV
Report of the
Report of the
Financial
Sustainability
Other
Annual Report 2016
Introduction
Executive Board
Supervisory Board
Statements
Review
Information
The carrying amount of financial assets and guarantees to banks for loans represents the maximum credit exposure. The maximum exposure
to credit risk at the reporting date was:
In millions of EUR Note 2016 2015*
Cash and cash equivalents
21
3,035
3,232
Trade and other receivables, excluding derivatives
20
3,004
2,821
Current derivatives
20
48
52
Investments held for trading
17
-
16
Available-for-sale investments
17
427
287
Non-current derivatives and investments FVTPL
17
254
210
Loans to customers
17
58
69
Loans to joint ventures and associates
17
18
22
Held-to-maturity investments
17
1
1
Other non-current receivables
17
174
152
Guarantees to banks for loans (to third parties)
32
335
473
7,354
7,335
Revised to reflect the change in accounting policy on netting cash and overdraft balances in cash pooling arrangements with legally enforceable rights to offset.
The maximum exposure to credit risk for trade and other receivables (excluding current derivatives) at the reporting date by geographic region was:
In millions of EUR 2016 2015
Europe
1,412
1,424
Americas
636
542
Africa, Middle East Eastern Europe
444
449
Asia Pacific
349
308
Head Office and Other/eliminations
163
98
3,004
2,821
The ageing of trade and other receivables (excluding current derivatives) at the reporting date was:
In millions of EUR Gross 2016 Impairment 2016
Gross 2015 Impairment 2015
Not past due
2,499
(32)
2,475
(54)
Past due 0 - 30 days
238
(8)
207
(13)
Past due 31 - 120 days
263
(67)
233
(64)
More than 120 days
452
(341)
347
(310)
3,452
(448)
3,262
(441)
The movement in the allowance for impairment in
as follows:
In millions of EUR
respect of trade and other receivables (excluding current derivatives) during the year was
2016
2015
Balance as at 1 January
441
404
Changes in consolidation
-
7
Impairment loss recognised
106
103
Allowance used
(37)
(29)
Allowance released
(49)
(42)
Effect of movements in exchange rates
(13)
(2)
Balance as at 31 December
448
441