Note 37
Financial statements - Notes to the consolidated financial statements
37 RECONCILIATION OF IFRS TO US GAAP
18 Consolidated statements of cash flows
The consolidated statements of cash flows under IFRS present operating, investing and financing cash flows from continuing
operations separately from discontinued operations, consistent with the presentation in the consolidated statements of
operations. Under Dutch GAAP, discontinued operations were disclosed in the notes to the consolidated financial statements
rather than separately presented in either the consolidated statements of operations or the consolidated statements of cash
flows.
Interest paid and interest received were presented as cash flows from operating activities under Dutch GAAP. Under IFRS,
interest paid is presented as cash flows from financing activities and interest received is presented as cash flows from investing
activities.
Ahold's consolidated financial statements have been prepared in accordance with IFRS, as adopted by the EU, which differs
in certain significant respects from US GAAP. Such differences include methods for measuring the amounts shown in the
consolidated financial statements, presentation of items in the balance sheets and statements of operations as well as
additional disclosures required by US GAAP.
Prior to 2005, Ahold prepared consolidated financial statements in accordance with Dutch GAAP and provided a reconciliation
of net income and shareholders' equity to US GAAP. As of January 3, 2005, Ahold's primary reporting GAAP is IFRS with a
transition date of December 29, 2003, the start of the financial year 2004. The SEC allows foreign private issuers that are
IFRS first-time adopters to file only one year of comparative information in the 2005 annual report on Form 20-F, as compared
to the generally required two years.
As a result of adopting IFRS, a number of accounting policy decisions have been made, some of which were transitional
decisions, relevant for determining the opening balance under IFRS. Changes in accounting policies and transitional
arrangements upon the adoption of IFRS are disclosed in Note 36 to the consolidated financial statements.
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