91
Notes to the Consolidated Financial Statements
2023
2022
Dividends
13
25
Other payables
320
329
2023
2022
9,432
9,283
531
545
Introduction
Taxation and social security contributions
Interest
5,735
1,728
1,420
216
5,852
1,802
1,103
172
Sustainability
Review
Financial
Statements
Other
Information
Report
of the
Supervisory
Board
Report
of the
Executive
Board
Accounting estimates
HEINEKEN makes estimates in the determination of discount accruals. When discounts are provided to customers,
these reduce the transaction price and consequently the revenue. The conditional discounts in revenue (refer to note
6.1) are estimated based on accumulated experience supported by historical and current sales information.
Expected sales volumes are determined taking into account (historical) sales patterns and other relevant
information. A discount accrual is recognised for expected volume and discounts due to customers in relation to sales
made until the end of the reporting period.
Accounting policies
Trade and other payables are initially measured at fair value and subsequently at amortised cost. Trade
payables are derecognised when the contractual obligation is either discharged, cancelled or expired.
7.3 Trade and other payables
In the ordinary course of business, payable positions arise towards suppliers of goods and services, as well as to
other parties. Refer to the table below for the different types of trade and other payables.
Returnable packaging materials
The majority of returnable packaging materials are classified as property, plant and equipment. The category
'Other fixed assets' in property, plant and equipment (refer to note 8.2) includes €1,103 million (2022: €1,018
million) of returnable packaging materials.
Returnable packaging deposit liability
In certain markets, HEINEKEN has the legal or constructive obligation to take back the materials from the
market. A deposit value is generally charged upon the sale of the finished product, which is reimbursed when the
empty returnable packaging material is returned.
Accounting estimates
The main accounting estimate relating to returnable packaging materials is determining the returnable
packaging materials in the market and the expected return thereof. This is based on circulation times and losses
of returnable packaging materials in the market.
Returnable packaging deposit liability
HEINEKEN recognises a deposit liability when a legal or constructive obligation exists to reimburse the customer
for returnable packaging materials that are returned. The returnable packaging deposit liability is based on the
estimated returnable packaging materials in the market, the expected return thereof and the deposit value.
Accounting policies
Returnable packaging materials
Returnable packaging materials may be classified as property, plant and equipment or inventory. The
classification mainly depends on whether ownership is transferred and if HEINEKEN has the legal or constructive
obligation to buy back the materials.
7.4 Returnable packaging materials
HEINEKEN uses returnable packaging materials such as glass bottles, crates and kegs in selling the finished
products to the customer.
Refer to note 8.2 for the general accounting policy on property, plant and equipment. Specifically for returnable
packaging materials, the estimated useful life depends on the loss of the materials in the market as well as on
HEINEKEN's sites.
In light of increasing inflationary pressures and HEINEKEN’s BaBW ambitions, the deposit value for a number of
returnable packaging materials were increased. In the event the deposit value is increased, the relating liability is
remeasured through profit and loss taking into account the returnable packaging materials which are already in the
market.
Heineken
N.V.
Annual
Report
2023
In millions of
Trade payables
Accruals
In millions of
Returnable packaging deposits
