22
22 Restructuring provisions
-
-
-
-
-
Ahold Annual Report 2003
Financial Statements
147
Accumulated Benefit Obligation ("ABO") in relation to a minimum liability
For plans in the U.S., either already a minimum liability has been recorded due to an unfunded ABO or the
recorded liability already equaled or exceeded the ABO. For the plans in Europe, with the exception of one plan,
either a minimum liability was recorded or the recorded liability already exceeded the ABO. The pension plan at
Stichting Ahold Pensioenfonds (Ahold Pensionfund) had plan assets for an amount of EUR 1.310 and an ABO of
EUR 1.256.
Defined contribution plans
The provision recorded for 2003 related to supplemental plans in Europe. During 2003 the supplemental saving
plans in the U.S. were terminated. In the U.S., there are defined contribution plans principally in the form of
savings, incentive compensation and bonus plans. Additionally, certain union employees in the U.S. are covered
by multi-employer plans, which are also accounted for as defined contribution plans. The Company contributed
EUR 73, EUR 90 and EUR 87 to defined contribution union plans during 2003, 2002 and 2001, respectively.
The table below specifies the changes in restructuring provisions for 2003, 2002 and 2001:
Severance
costs
Closing
costs
Rent
liabilities
Total
December 31, 2000
42
63
47
152
Acquisition-related restructuring
22
60
36
118
Restructuring charged to income statement
38
38
65
141
Used in year
(24)
(8)
(30)
(62)
Change in estimate
(5)
(85)
(8)
(98)
Exchange rate difference
1
3
8
12
December 30, 2001
74
71
118
263
Acquisition-related restructuring
8
2
10
Restructuring charged to income statement
28
4
10
42
Used in year
(36)
(36)
(38)
(110)
Change in estimate/accounting principles
(34)
(5)
(8)
(47)
Exchange rate difference
(4)
(5)
(13)
(22)
December 29, 2002
36
29
71
136
Reclassification and Divestments
(10)
(10)
Restructuring charged to income statement
24
2
26
Used in year
(23)
(13)
(8)
(44)
Change in estimate
6
(3)
(14)
(11)
Exchange rate difference
(2)
(3)
(10)
(15)
December 28, 2003
41
41
82
Restructuring provisions as of January 1, 2001, amounting to EUR 152 related to restructuring plans initiated before
2001. Of this balance, EUR 60 related to provisions at USF, EUR 32 related to provisions at Stop Shop, Giant
Foods and BI-LO (U.S. retail), EUR 27 related to restructuring at Albert Heijn, EUR 24 related to provisions
at Schuitema and EUR 9 related to various other operating companies.
