109
Notes to the Consolidated Financial Statements (continued)
Impairment losses
-
-
-
Report of the
Report of the
1 Financial 1
Sustainability
Other
Introduction
Executive Board
Supervisory Board
1 Statements 1
Review
Information
Heineken N.V. Annual Report 2017
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
2017
2016
Europe
1,435
1,412
Americas
836
636
Africa, Middle East Eastern Europe
441
444
Asia Pacific
364
349
Head Office and Other/eliminations
201
163
3,277
3,004
The ageing of trade and other receivables (excluding current derivatives) at the reporting date was:
In millions of
Gross
2017
Impairment
2017
Gross
2016
Impairment
2016
Not past due
2,477
(46)
2,499
(32)
Past due 0-30 days
487
(19)
238
(8)
Past due 31 -120 days
255
(42)
263
(67)
More than 120 days
511
(346)
452
(341)
3,730
(453)
3,452
(448)
The movement in the allowance for impairment in
as follows:
respect of trade and other receivables (excluding current derivatives) during the year
was
In millions of
2017
2016
Balance as at 1 January
448
441
Changes in consolidation
55
Impairment loss recognised
105
106
Allowance used
(45)
(37)
Allowance released
(92)
(49)
Effect of movements in exchange rates
(18)
(13)
Balance as at 31 December
453
448
The movement in the allowance for impairment in
respect of loans and advances to customers during the year was as follows:
In millions of
2017
2016*
Balance as at 1 January
132
142
Changes in consolidation - -
Impairment loss recognised
8
3
Allowance used
(2)
Allowance released
(8)
(9)
Effect of movements in exchange rates
(1)
(4)
Other
16
Balance as at 31 December
145
132
*Revised to reflect inclusion of advances to customers.
Impairment losses recognised fortrade and other receivables (excluding current derivatives), loans and advances to customers are part of the other
non-cash items in the consolidated statement of cash flows.
A net impairment loss of €13 million (2016: €57 million) in respect of trade and other receivables and in respect of loans and advances to
customers nil (2016: €7 million gain) were included in expenses for raw materials, consumables and services.
The allowance accounts in respect of trade and other receivables and held-to-maturity investments are used to record impairment losses, unless
HEINEKEN is satisfied that no recovery of the amount owing is possible; at that point, the amount considered irrecoverable is written off against
the financial asset.
