Notes: 31
184
Ahold Annual Report 2003
Financial Statements
b. Condensed consolidated statements of operations under US GAAP
The following presents the Company's condensed consolidated statements of operations in accordance with US GAAP:
2003
2002
2001
Net sales
Cost of sales
53,847
(42,592)
60,080
(47,185)
51,766
(40,321)
Gross profit
11,255
12,895
11,445
Operating expenses
(10,417)
(12,642)
(9,927)
Operating income (loss)
838
253
1,518
Financial expense, net
(951)
(985)
(831)
Income (loss) before income tax
(113)
(732)
687
Income tax benefit (expense)
9
(334)
(143)
Income (loss) after income taxes
(104)
(1,066)
544
Share in net income (loss) of joint ventures and equity investees
Minority interest
Dividends on cumulative preferred financing shares
135
(16)
(38)
81
(11)
(38)
(780)
13
(38)
Loss from continuing operations
(23)
(1,034)
(261)
Income (loss) from discontinued operations before income tax
Income tax expense discontinued operations
(618)
(6)
(676)
(26)
38
(11)
Income (loss) from discontinued operations
(624)
(702)
27
Loss before cumulative effect of changes in accounting principles
(647)
(1,736)
(234)
Cumulative effect of changes in accounting principle for consideration received from
vendors, goodwill and derivative instruments, net of income tax benefits of EUR 47,
EUR 257 and EUR 4, respectively
Cumulative effect of a change in accounting principle for goodwill in joint ventures and
equity method investees
(100)
(2,499)
(93)
(20)
Net loss
(747)
(4,328)
(254)
