Consolidated Statements of Operations
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Ahold Annual Report 2003
Financial Statements
91
Euros in millions, except per share data
Note
2003
2002
2001
Net sales
56,068
62,683
54,213
Cost of sales
(44,457)
(49,222)
(42,227)
Gross profit
11,611
13,461
11,986
Operating expenses
Selling expenses
(8,274)
(9,073)
(8,080)
General and administrative expenses
(2,009)
(1,989)
(1,843)
Goodwill and intangible asset amortization
12/13
(349)
(433)
(256)
Impairment of goodwill and other intangible assets
12/13
(72)
(1,287)
(8)
Impairment of other long-lived assets
14
(113)
(137)
(10)
Gain on disposal of tangible fixed assets
14
60
69
122
Loss on divestments
3
(136)
Loss on related party default guarantee
9
(372)
Total operating expenses
(10,893)
(13,222)
(10,075)
Operating income
718
239
1,911
Financial expense, net
Interest income
42
59
109
Interest expense
(994)
(1,003)
(921)
Gain (loss) on foreign exchange
14
(50)
108
Other financial income and expense
(14)
(3)
Net financial expense
(938)
(1,008)
(707)
Income (loss) before income taxes
(220)
(769)
1,204
Income taxes
10
72
(390)
(270)
Income (loss) after income taxes
(148)
(1,159)
934
Share in income (loss) of joint ventures and equity investees
161
(38)
(192)
Minority interest
(14)
(11)
8
Net income (loss)
(1)
(1,208)
750
Dividends on cumulative preferred financing shares
(38)
(38)
(38)
Net income (loss) after preferred dividends
(39)
(1,246)
712
Net income (loss) after preferred dividends per common share - basic
11
(0.04)
(1.24)
0.77
Weighted average number of common shares outstanding (x 1,000) - basic
1,024,465
1,001,347
926,736
Net income (loss) after preferred dividends per common share - diluted
11
(0.04)
(1.24)
0.76
Weighted average number of common shares outstanding (x 1,000) - diluted
1,024,465
1,001,347
956,958
The accompanying notes are an integral part of these consolidated financial statements
