00 Ahold ANNUAL REPORT 2002 181
BOARD GOVERNANCE HIGHLIGHTS OPERATING REVIEW FINANCIAL INVESTOR REL AT IONS
December 30, 2001
Shareholders' equity in accordance with US GAAP, as previously reported
16,210
Effect of Dutch GAAP restatements on US GAAP shareholders' equity
Aggregate Dutch GAAP restatements (Note 3)
(396)
Less: Amounts which are not restatements for US GAAP purposes
(i)
(110)
Effect of restatements on previously-reported US GAAP shareholders' equity
Goodwill, net of accumulated amortization
(2)
(1,924)
Other intangible assets, net of accumulated amortization
(3)
889
USF purchase accounting adjustments
(4)
Sale and leaseback of property
(5)
(53)
Derivative instruments, including cumulative effect adjustment
(6)
55
Valuation of ICA Put Option
(7)
(510)
Other
(7)
Income tax effects of above restatements
(8)
(243)
Investment in joint ventures and equity investees, net of tax
(9)
1,818
Minority interests impact on above restatements
(185)
Shareholders' equity in accordance with US GAAP, as restated
15,544
The following is a description of the adjustments that only had an impact on net income (loss) and shareholders' equity
determined in accordance with US GAAP:
(1) Impact of Dutch GAAP restatements on US GAAP
The restatements to the Company's fiscal 2000 and 2001 financial position and results under Dutch GAAP as described
in Note 3, have the same impact on shareholders' equity and net income presented under US GAAP, except for
restatements with respect to pensions, revaluation of real estate and certain provisions which were previously presented
as a reconciliation item between Dutch GAAP and US GAAP. Accordingly, no restatement of shareholders' equity or net
income under US GAAP is required with respect to these items. Accordingly, the aggregate Dutch GAAP restatements are
adjusted to eliminate the effects of these items, which are summarized below:
ConsolidatedConsolidated
net income (loss) shareholders'
equity
Fiscal 2001
Fiscal 2000
December 30,
2001
Pensions and other post retirement benefits a)
(24)
(17)
(79)
Revaluation of real estate b)
(2)
(2)
32
Other provisions c)
58
22
(63)
32
3
(110)
a) Under Dutch GAAP the accounting for pensions and other post retirement benefits was changed to conform the
accounting under Dutch GAAP to the requirements of SFAS No. 87 and SFAS No. 106, which were already applied
under US GAAP as described in Note 2 and 3.
b)The Company changed its accounting for the revaluation of real estate and, accordingly, reversed revaluations it had
previously recorded under Dutch GAAP. These revaluations were never recorded under US GAAP and presented as
reconciling items between Dutch GAAP and US GAAP in fiscal 2001 and 2000.
c) Under Dutch GAAP the Company made restatements for a change in accounting policy relating to restructuring
provisions. After the change in accounting policy regarding restructuring provisions under Dutch GAAP, stricter criteria
are applied before a provision is recognized. The new criteria are more consistent with criteria previously applied under
US GAAP.
(2) Amortization and impairment of goodwill
As discussed in Note 3(d), the Company recorded adjustments to acquisition accounting in connection with several of its
historical acquisitions. These adjustments related to restructuring provisions and the fair value of acquired assets. As a
result of these adjustments, the goodwill related to these acquisitions was restated, as well as the amortization and
impairments of goodwill recognized in subsequent periods.
