67 Notes to the Consolidated Financial Statements (continued) (e) Changes in accounting policies Heineken NV. Report of the Report of the Financial Sustainability Other Annual Report 2016 Introduction Executive Board Supervisory Board Statements Review Information (i) Netting cash pooling arrangements with legally enforceable rights to offset HEINEKEN previously presented the cash and overdraft balances within cash pooling arrangements on a net basis in the statement of financial position, based on the legally enforceable right to offset and the intention to settle on a net basis. In March 2016 the IFRS Interpretations Committee (IFRIC) decided on when and whether entities are able to offset balances in accordance with IAS 32. HEINEKEN has revised its accounting policy accordingly, by applying the stricter IFRIC interpretation on the intention to settle on a net basis. This change in accounting policy has been accounted for retrospectively and as a result of this, the amount of 'Cash and cash equivalents' and 'Bank overdrafts and commercial papers' increased by EUR 2,408 million as per 31 December 2015. Legal offset rights for the cash pooling arrangements continue to be in place. The amount subject to legal offset rights, but not netted in the statement of financial position is EUR 1,489 million per 31 December 2016. If netted, 'Cash and cash equivalents' would amount to EUR 1,546 million and 'Bank overdrafts and commercial papers' to EUR 180 million. Refer to note 21 for further details. The Net interest-bearing debt position remains unchanged. (ii) Other changes HEINEKEN has adopted the following new standards and amendments to standards, including any consequential amendments to other standards, with a date of initial application of 1 January 2016: - Disclosure Initiative (amendments to IAS 1) - Regulatory Deferral Accounts (IFRS 14) - Accounting for Acquisitions of Interests in Joint Operations (amendments to IFRS 11) - Bearer Plants (amendments to IAS 16 and IAS 41) - Classification of Acceptable Methods of Depreciation and Amortisation (amendments to IAS 16 and IAS 38) - Applying the consolidation exemption (amendments to IFRS 10, IFRS 12 and IAS 28) - Equity method in separate financial statements (amendments to IAS 27) - Annual Improvements to IFRS's 2012-2014 Cycle. These changes had no significant impact on the disclosures or amounts recognised in HEINEKEN's consolidated financial statements.

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