^68] Historical Summary (continued) Liabilities (excluding provisions and post-retirement obligations) O Q, Heineken N.V. Annual Report 2018 Report of the Executive Board Report of the Supervisory Board Financial Statements Sustainability Review Other Information 2018 2017 2016 20152 2014 Operating profit (beia)/net interest expense (beia) 9.6 10.1 10.0 9.6 7.7 Free operating cash flow/net debt 19% 16% 16% 15% 14%1 Net debt/total equity 0.78 0.89 0.77 0.76 0.821 Financing In millions of Share capital 922 922 922 922 922 Reserves and retained earnings 13,436 12,399 12,316 12,613 11,487 Shareholders' equity 14,358 13,321 13,238 13,535 12,409 Non-controlling interest 1,182 1,200 1,335 1,535 1,043 Total equity 15,540 14,521 14,573 15,070 13,452 Post-retirement obligations 954 1,289 1,420 1,289 1,443 Provisions (including deferred tax liabilities) 2,380 2,643 2,128 2,332 2,066 Non-current borrowings 12,628 12,166 10,920 10,626 9,491 Other liabilities (excluding provisions) 10,454 10,415 10,280 10,805 8,378 23,082 22,581 21,200 21,431 17,869 Total equity and liabilities 41,956 41,034 39,321 40,122 34,830 Shareholders' equity/(post-retirement obligations, provisions and liabilities) 0.54 0.50 0.53 0.54 0.58 2018 2017 2016 20152 2014 Employment of capital In millions of Property, plant and equipment 11,359 11,117 9,232 9,552 8,718 Intangible assets 17,459 17,670 17,424 18,183 16,341 Other non-current assets 4,068 3,999 4,528 4,065 3,685 Total non-current assets 32,886 32,786 31,184 31,800 28,744 Inventories 1,920 1,814 1,618 1,702 1,634 Trade and other current assets 4,247 3,992 3,484 3,372 3,771 Cash, cash equivalents and current other investments 2,903 2,442 3,035 3,248 681 Total current assets 9,070 8,248 8,137 8,322 6,086 Total assets 41,956 41,034 39,321 40,122 34,830 Total equity/total non-current assets 0.47 0.44 0.47 0.47 0.47 Current assets/current liabilities (excluding provisions) 0.88 0.80 0.79 0.77 0.73 1 Revised for the change in definition of net debt in 2015. 2 Comparative figure for 2015 has been revised to reflect the change in accounting policy on netting cash and overdraft balances in cash pooling arrangements with legally enforceable rights to offset.

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2018 | | pagina 169