Notes to the Consolidated Financial Statements (continued)
O O Qs
Introduction Report of the Executive Board Report of the Supervisory Board
In millions of
2019
Summarised balance sheet (100%)
Non-current assets
8,708
Current assets
1,140
Non-current liabilities
(1,470)
Current liabilities
(2,577)
Net assets
5,801
Reconciliation to carrying amount
Opening net assets1
5,887
Profit for the period
61
Other comprehensive income
(86)
Dividends paid
(61)
Closing net assets
5,801
Company's share in
20.67%
Company's share
1,199
Goodwill
1,517
Carrying amount
2,716
Summarised income statement (100%)
Revenue
2,500
Profit
61
Other comprehensive income
(86)
Total comprehensive income
(25)
Dividends received
13
1 On the acquisition date 29 April 2019.
Financial Statements
Sustainability Review
Heineken N.V. Annual Report 2019
Other Information
Summarised financial information for equity accounted joint ventures and associates
The following table includes, in aggregate, the carrying amount and HEINEKEN's share of profit and OCI
of joint ventures and associates (net of income tax):
Joint ventures Associates
In millions of
2019
2018
20191
2018
Carrying amount of interests
1,734
1,748
3,134
273
Share of:
Profit or loss from
continuing operations
112
192
52
18
Other comprehensive income
4
(37)
(24)
1
116
155
28
19
1 The 2019 column includes the investment in CR Beer, which is considered to be individually material. The other joint ventures and associates are considered
to be individually immaterial.
Accounting policies
Associates are those entities in which HEINEKEN has significant influence, but not control or joint control.
Significant influence is generally obtained by ownership of more than 20% but less than 50% of the voting
rights. Joint ventures (JVs) are the arrangements in which HEINEKEN has joint control.
HEINEKEN's investments in associates and joint ventures are accounted for using the equity method of
accounting, meaning they are initially recognised at cost. The consolidated financial statements include
HEINEKEN's share of the net profit or loss of the associates and JVs whereby the result is determined using
the accounting policies of HEINEKEN.
When HEINEKEN's share of losses exceeds the carrying amount of the associate or joint venture, the
carrying amount is reduced to nil and recognition of further losses is discontinued except to the extent
that HEINEKEN has an obligation or has made a payment on behalf of the associate or JV