Notes 18, 19, 20, 21
-
Condensed financial information
Following the divestment of Paiz Ahold in 2005 and the
classification as held for sale and discontinued operation of
JMR in 2006, ICA is the remaining significant investment of
Ahold in a joint venture. The condensed balance sheets and
condensed statements of operations data (on a 100 percent
basis) for ICA are presented below. For information on JMR
and Paiz Ahold, which have been classified as held for sale
and discontinued operations in 2006 and 2005,
respectively, see Note 12.
rate loans, bearing interest based on the European Central
Bank interest rate, are due in 2008 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 31, 2006 was 1.9 percent (January 1,
2006: 1.3 percent). For more disclosure about the AHVKF,
see Note 32.
20 Inventories
Condensed balance sheet data
December 31,
2006
January 1,
2006
Non-current assets
2,414
1,898
Current assets
1,623
1,694
Non-current liabilities
909
1,013
Current liabilities
1,951
1,638
Condensed statements of operations data
2006
2005
2004
Net sales
7,285
7,095
7,582
Gross profit
1,743
1,611
1,622
Income before income taxes
214
158
190
Net income
252
159
187
19 Other non-current assets
December 31,
2006
January 1,
2006
Derivative financial instruments
323
285
Loans receivable
65
82
Other
61
67
Total other non-current assets
449
434
For more information on derivative financial instruments and
fair values, see Note 33.
Of the non-current loans receivable, EUR 51 matures
between one and five years and EUR 14 after five years.
Current portion of loans receivable of EUR 18 is included in
other receivables (January 1, 2006: EUR 25). The weighted
average interest rate on loans receivable was 5.5 percent
(January 1, 2006: 4.1 percent). Also included in loans
receivable are EUR 28 (January 1, 2006: EUR 28) of loans
that had been granted to assist managers and other
employees of the Company with investments in the Albert
Heijn Vaste Klanten Fonds ("Dutch Customer Fund" or
"AHVKF"), an independent investment fund. These floating-
December 31,
January 1,
2006
2006
Finished products and merchandise inventories
2,090
2,418
Raw materials, packaging materials,
technical supplies and other
34
32
2,124
2,450
Provision for write-offs
(68)
(74)
Total inventories
2,056
2,376
An amount of EUR 138 has been recognized as write-offs
of inventories in the consolidated statement of operations
in 2006 (2005 and 2004: EUR 125 and EUR 174,
respectively).
21 Receivables
December 31,
January 1,
2006
2006
Trade receivables
1,314
1,411
Vendor allowance receivables
423
525
Other receivables
273
453
2,010
2,389
Provision for impairment
(72)
(86)
Total receivables
1,938
2,303
Included in other receivables are EUR 5 of receivables from
joint ventures and associates (January 1, 2006: EUR 4).
Receivables have a maturity less than one year.
The changes in the provision for impairment are as follows:
2006
2005
2004
Beginning of the year
(86)
(121)
(146)
Additions
(47)
(85)
(78)
Classified as held for sale
2
10
Used
45
81
51
Change in estimates
10
46
38
Exchange rate differences
4
(7)
4
End of the year
(72)
(86)
(121)
Ahold Annual Report 2006 91
