Notes 29, 30, 31
Financial statements - Notes to the consolidated financial statements
29 Other current financial liabilities
December 31,
January 1,
2006
2006
Loans - current portion
480
256
Finance lease liabilities - current portion
59
64
Short-term borrowings
56
597
Interest
142
140
Dividend cumulative preferred financing shares
42
44
Derivative financial instruments
10
31
Total other current financial liabilities
789
1,132
Short-term borrowings as at January 1, 2006 was principally comprised of short-term loans payable related to
U.S. Foodservice's accounts receivable securitization program
For additional disclosure about this program, see Note 21.
30 Other current liabilities
December 31,
January 1,
2006
2006
Accrued expenses
1,046
799
Compensated absences
233
239
Payroll taxes, social security and VAT
214
159
Deferred gains
31
31
Payables to joint ventures and associates
4
13
Other
4
52
Total other current liabilities
1,532
1,293
Accrued expenses as at December 31, 2006 includes the remaining one third of the settlement amount in the Securities
Class Action (EUR 277), which was funded into escrow on January 29, 2007. For more information, see Note 34.
31 Cash flow
The following table presents a reconciliation between net income and cash generated from operations:
2006
2005
2004
Cash generated from operations
Net income
915
146
883
Adjustments for:
Depreciation, amortization and impairments
974
1,048
1,170
Gains on the sale of non-current assets and disposal groups held for sale
(45)
(61)
(16)
Settlement Securities Class Action
803
-
Net financial expense
518
650
270
Share in net income of joint ventures and associates
(152)
(118)
(104)
Income taxes
91
(214)
140
Income from discontinued operations
(79)
(211)
(222)
Other
21
23
18
Operating cash flow before changes in working capital
2,243
2,066
2,139
Changes in inventories
63
50
23
Changes in receivables and other current assets
26
43
(52)
Changes in payables and other current liabilities
50
(35)
49
Changes in non-current assets and liabilities
(114)
(138)
(47)
Securities Class Action settlement, net of insurance proceeds of EUR 92
(536)
-
-
Cash generated from operations
1,732
1,986
2,112
104 Ahold Annual Report 2006
