Notes: 16
16 Other financial assets
-
-
-
-
-
-
-
-
-
136
Ahold Annual Report 2003
Financial Statements
Condensed balance sheet and statement of operations data for JMR, ICA and Paiz Ahold, in the aggregate,
as of and for the years ended December 28, 2003, December 29, 2002, and December 30, 2001 are presented
below. The results of DAIH are only included until consolidation in the third quarter of 2002. The balance sheet data
have been translated to Euros at the relevant year-end exchange rate, and consolidated statements of operations
data have been translated to Euros at the relevant average exchange rate.
Condensed balance sheet data
2003
2002
2001
Non-current assets
3,163
3,500
3,850
Current assets
2,001
1,896
1,894
Current liabilities
2,839
2,898
2,800
Non-current liabilities
501
633
1,970
Condensed statements of operations data
2003
2002
2001
Revenues
11,104
11,493
12,198
Gross profit
2,532
2,645
2,923
Operating income
440
366
410
Income before tax
379
154
5
Income (loss) after tax
334
100
(45)
December 28,
2003
December 29,
2002
Loans receivable
260
311
Long-term prepaid rent
23
31
Deferred financing costs
47
35
Other financial assets
325
367
655
744
The movements in loans receivable are as follows:
Loans to
associated
companies
Other
loans
2003
2002
Beginning of the year
194
117
311
670
Issued
25
58
83
256
Allowance
395
Business acquisitions
1
1
4
Divestments
(2)
(2)
Consolidation
(676)
Repayment
(75)
(49)
(124)
(287)
Exchange rate differences
(1)
(8)
(9)
(51)
End of the year
143
117
260
311
Associated companies consists of joint ventures and equity investees. Included in the above are EUR 35 of loans
receivable that have a maturity date of greater than five years. Other loans include EUR 37 as of December 28,
2003 (December 29, 2002: EUR 41) of loans due from the officers, managers and employees of the Company that
were granted to assist them with investments in the Dutch Customer Fund. These floating-rate loans, bearing
interest based on the European Central Bank interest rate, are due in 2004 (EUR 1), in 2006 (EUR 7) and in 2008
(EUR 29) or upon an individual's termination of employment, if earlier, and are collateralized by each individual's
corresponding investment in the Dutch Customer Fund. The interest rate for these floating-rate loans as of
December 28, 2003 and December 29, 2002 was 2.25% and 3.5%, respectively.
The consolidation of the loans receivable for 2002 relate to acquisitions of a controlling interest in DAIH.
Other financial assets are primarily comprised of prepaid pension costs of EUR 206 (2001: EUR 185).
