g)@
Notes to the Consolidated Financial Statements
5,801
(395)
Goodwill
1 Heineken N.V. Report of the Report of the Financial Sustainability Other
Ivv Annual Report 2020 Introduction Executive Board Supervisory Board Statements Review Information
In millions of
2020
20191
Summarised balance sheet (100%)
Non-current assets
7,657
8,708
Current assets
1,281
1,140
Non-current liabilities
(1,313)
(1,470)
Current liabilities
(2,241)
(2,577)
Net assets
5,384
5,801
Reconciliation to carrying amount
Opening net assets1
5,887
Profit for the period
47
61
Other comprehensive income
(86)
Dividends paid
(69)
(61)
Closing net assets
5,384
5,801
Company's share in
20.67%
20.67%
Company's share
1,113
1,199
1,395
1,517
Carrying amount
2,508
2,716
In millions of
November 2019
May 2019 to
to October 2020
October 2019
Summarised income statement (100%)
Revenue
3,996
2,500
Profit
47
61
Other comprehensive income
(395)
(86)
Total comprehensive income
(348)
(25)
Dividends received
14
13
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 Associates1
In millions of
2020
2019
2020
2019
Carrying amount of interests
1,574
1,734
2,863
3,134
Share of:
Profit or (loss) from continuing operations
(34)
112
3
52
Other comprehensive income/(loss)
(2)
4
18
(24)
(36)
116
21
28
1 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 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 JVs 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.
1 The opening net asset balance for 2019 is at the acquisition date 29 April 2019.
