123
4 Financial assets
2,209
-
-
-
7,471
-
-
-
-
-
-
Notes to the parent company financial statements continued
Ahold
Annual Report 2010
Group at a glance
Performance
Governance
Financials
Investors
million
January 2,
2011
January 3,
2010
Investments in subsidiaries
7,471
7,679
Investments in joint ventures
178
1,046
Loans receivable from subsidiaries
2,495
Other loans receivable
55
Hedging derivatives external
151
173
Other derivatives external
196
162
Pensions and other post-employment benefits
9
10
Deferred financing cost
1
1
Total financial assets
10,501
11,335
For more information on derivatives, see Note 11 to these parent company financial statements.
Investments in subsidiaries and joint ventures
million
Joint
Subsidiaries ventures
2010
Total
2009
Total
Beginning of year
7,679
1,046
8,725
7,882
Share in income
780
55
835
988
Dividends
(690)
(110)
(800)
(592)
Intercompany transfers
(345)
(871)
(1,216)
366
Direct equity movements
5
(4)
1
11
T ransfers (to) from loans receivable
207
207
630
T ransfers (to) from provisions
(402)
(402)
(582)
Exchange rate differences
237
62
299
22
End of year
178
7,649
8,725
For a list of subsidiaries, joint ventures, and associates, see Note 36 to the consolidated financial statements.
Loans receivable
million
Subsidiaries
Other
2010
Total
2009
Total
Beginning of year
2,209
55
2,264
2,702
Issued
3,236
3
3,239
579
Redemptions
(2,958)
(2,958)
(377)
T ransfers (to) from investments
(207)
(207)
(630)
Exchange rate differences
215
215
(10)
End of year
2,495
58
2,553
2,264
Current portion
(58)
(58)
Non-current portion of loans
2,495
2,495
2,264
In 2010, Ahold performed an intra-group reorganization of part of its finance and holding activities. Certain investments, including the
investment in Ahold's unconsolidated joint venture ICA, were transferred from the Parent company to a newly established Swiss
subsidiary, Ahold International Sarl (AIS), in exchange for a 75 percent ownership interest in AIS. The remaining 25 percent ownership
interest in AIS is owned by another Ahold's subsidiary, Ahold Finance U.S.A., LLC. Loans previously held by the Parent company from
and to subsidiaries were terminated, and a new loan was issued to AIS in the amount of $2.5 billion.
