means o^lTe pJlm^r"1 «Ahold Pension Fund) by
Iirntf0r tT reSerV6' refl6CtS 6Stimated C°mmitments with resPect t0 genera' liability and disability that have not been placed
r<;tuaHal estimates 'S Pr0VIS'°n C°mPameS' 'eVe' °f the Pr°ViSi°n iS 6Va'Uated periodical1* based °n
-
-
The provision for Pensions', reflecting commitments for pensions not placed with other funds, has been based on actuarial calculations
using discount rates ranging from 6% to 8%, and also includes amounts for future increases in benefits and for possible inflation
On the basis of collective labor agreements, a provision for 'Early retirement commitments' has been established, determined in accordance
C0StS' are COmPnSed °f C°mm,tmentS f°r S6VeranCe and suPP'ementary benefit arrangements, primarily in
The provision for 'Restructuring' includes non-personnel related costs, such as the expected impairment in the value of tangible fixed assets
and closed s ore reserves, regarding reorganizations still in process. The provision for closed and divested facilities represents the estimated
annwn^ toteclolid °b"gatl°nS '°SS th6 diSP°Sa' °f 3SSets) for facilities' Primari|V retail stores that have been closed or
As a result of a policy change at Giant-Landover, in which it was decided not to close the stores in the North, a closed store reserve has
been reversed against previously paid goodwill.
iriterest co'mmitmentsSSC°mPriSe am°UntS r6Pair a"d Upkeep C0StS °f bui'dmês and steP rents and straight-line amortization of
Included in 'Miscellaneous' is a material amount for certain contingent liabilities, primarily leases, related to activities of Stop Shop that
ere terminated prior to the acquisition by Ahold. Furthermore, it comprises liabilities for potential environmental, labor and other claims
Provisions for the Euro and the millennium were made for costs relating to the introduction of the Euro and for the computer software
adjustments required m preparation for the year 2000. The amount accrued as of year-end mainly relates to the introduction of the Euro.
Minority interests
This item reflects minority interests in the equity of consolidated subsidiaries.
Stockholders' equity
Authorized share capital
The authorized share capital is comprised of the following classes of shares:
Cumulative preferred shares (650,000 of NLG 1,000 each)
Cumulative preferred financing shares (195,000,000 of NLG 0.50 each)
Convertible cumulative preferred financing shares (60,000,000 of NLG 0.50 par value)
Common shares (1,045,000,000 of NLG 0 50 each)
237,100
589,914
Issued and paid-up share capital
Movements in issued and paid-up share capital during the year were as follows:
Shares (x l.OOO)
Cum. Pref.
Common
Financing
shares
shares
Beginning of fiscal year
628,097
144,000
Shares issued as optional dividend
16,475
Exercise of stock options
1,912
End of fiscal year
646,484
144,000
Issued and paid-up share capital
Cum. pref.
Total
Common
Financing
issued and
shares
shares
paid-up
142,509
32,672
175,181
3,738
3,738
434
434
146,681
32,672
179,353
There were no cumulative preferred shares and no convertible cumulative preferred financing shares outstanding during 1999 or 1998
At 1999 year end Corporate Executive Board members held in total 3,381 common shares and 31,218 units in the AH Dutch Customer
Fund. Supervisory Board members held a total of 15 common shares.
Royal Ahold Annual Report 1999
