Notes to the Consolidated Balance Sheets and Statements of Earnings
General New consolidations
In Julv 1995, Ahold acquired the US supermarket chain Mayfair SuperMarkets Inc. and has consolidated it since
the date of acquisition. Mayfair is based in Elizabeth, New Jersey and operates 28 supermarkets. In the course of
1996, the operations of Mayfair will be integrated into Edwards.
The American supermarket chain Red Food Stores (Tennessee), acquired in 1994, has now been fully integrated
in BI-LO.
In the Czech Republic, Ahold acquired Ceska General Food as (52 stores) in June 1995 and 83% of a smaller
company, ZIOS as (6 stores) in July. Both companies have been included in the consolidated financial statements
since the date of acquisition.
Ahold Vastgoed bv (Real Estate)
As stated in the 1994 financial statements, Ahold has included the real estate company Ahold Vastgoed bv in the
consolidated financial statements as of 1995. For comparability reasons, prior year figures have been adjusted
accordingly.
Jerónimo Martins Retail sgps sa
In 1992, Ahold acquired 49% of the capital stock of Jerónimo Martins Retail sgps sa (J.MR) in Eisbon, against
payment in cash. The remaining 51% of the shares in JMR is held by Est. Jerónimo Martins Filho Administra9ao
e Participates Financeiras sa (JMH), Lisbon.
Based on its direct managerial role and stockholder agreements, Ahold considers JMR to be a group company and
has included it in its consolidated accounts.
JMR operates the Portuguese supermarket chain Pingo Doce (103 stores), 8 hypermarkets under the name Feira
Nova and has a participation in 5 supermarkets on Madeira.
Cross-participations
A strengthened cooperation between Royal Ahold, Argyll Group pic (United Kingdom) and Groupe Casino
(France) in 1989 resulted in the decision of each to acquire an interest in the others' share capital.
On the balance sheet these cross-participations are stated at historical cost, unless there is a permanent decline in
value. Dividends received or receivable are included in the statements of earnings under 'Income from
unconsolidated subsidiaries and affiliates'.
In 1996, the participants decided that the cross-participations were no longer necessary. Refer to 'Subsequent
Events' on page 54.
Consolidation
All subsidiaries belonging to the group have been included in the consolidation. The share of minority interest
stockholders in equity and earnings has been entered separately in the consolidated balance sheets and in the
statements of earnings. The subsidiaries are listed on page 40.
In 1995, Ahold entered a joint venture (50/50) with the Allkauf Group (Germany) to develop and operate
supermarkets, cash carry's and hypermarkets in Poland. The activities are still limited. Ahold's 50% interest is
included in the balance sheet under 'Unconsolidated subsidiaries and affiliates'. Ahold's share of 1995's slightly
negative result is included under 'Income from unconsolidated subsidiaries and affiliates'.
Amounts in thousands of Dutch Guilders ('NLG')
Unless indicated otherwise, all amounts included in the Notes to the Consolidated Financial Statements are stated
in thousands of Dutch Guilders.
Reclassifications
In addition to some reclassifications of minor importance in the balance sheet, minor detail changes were made to
the way in which composition of cost of sales, selling expenses, and general and administrative expenses were
calculated. The comparable figures for 1994 have been adjusted.
Accounting General
principles The valuation of assets, stockholders' equity, provisions and liabilities and the determination of earnings are based
on historic cost. Unless otherwise indicated for specific items, all components of assets, stockholders' equity,
provisions and liabilities are stated at their face values.
Fiscal year
Fiscal years end on the Sunday nearest to December 31. Fiscal 1995 and 1994 each contained 52 weeks.
Annual Report 1995 Royal Ahold 41
