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Notes to the Heineken N.V. Financial Statements
A. Company disclosures
A.1 Investments
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m Heineken N.V. Report of the Report of the Financial Sustainability Other
Annual Report 2020 Introduction Executive Board Supervisory Board Statements Review Information
Reporting entity
The Company financial statements of Heineken N.V. (the 'Company') are included in the consolidated
financial statements of Heineken N.V.
Basis of preparation
The Company financial statements have been prepared in accordance with the provisions of Part 9, Book 2,
of the Dutch Civil Code. The Company uses the option of Article 362.8 of Part 9, Book 2, of the Dutch Civil
Code to prepare the Company financial statements, using the same accounting policies as in the consolidated
financial statements. Valuation is based on recognition and measurement requirements of IFRS as adopted
by the EU as explained in the notes to the consolidated financial statements.
Accounting policies
Shareholders' equity
The translation reserve and other legal reserves were previously formed under, and are still recognised in
accordance with, the Dutch Civil Code.
The below table provides an overview of the movements of the investments during the year:
In millions of
Participating
interests
Loansto
participating
interests
Total
Balance as at 1 January 2020
19,197
10,476
29,673
Profit/(loss) of participating interests
(167)
(167)
Dividend payments by participating interests
(456)
456
Effect of movements in exchange rates
(1,974)
(1,974)
Changes in hedging and fair value adjustments
(53)
(53)
Actuarial gains/(losses)
62
62
Acquisition of non-controlling interests without a change
in control
Investments/(repayments)
(50)
1,139
1,089
Other movements
1
1
Balance as at 31 December 2020
16,560
12,071
28,631
Balance as at 1 January 2019*
17,550
10,264
27,814
Profit of participating interests
2,506
2,506
Dividend payments by participating interests
(878)
878
Effect of movements in exchange rates
310
310
Changes in hedging and fair value adjustments
29
29
Actuarial gains/(losses)
(214)
(214)
Acquisition of non-controlling interests without
a change in control
(126)
(126)
Investments/(repayments)
20
(666)
(646)
Balance as at 31 December 2019
19,197
10,476
29,673
Restated for IFRS 16.
For disclosures of significant direct and indirect participating interests, refer to notes 10.3 and 13.4 of the
consolidated financial statements.
