2 www.ahold.com/reports2008
Notes to the consolidated financial statements
12 Investment property continued
13 Intangible assets
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Financial statements
AHOLD ANNUAL REPORT 2008 69
The fair value of investment property as of December 28, 2008 amounted to approximately EUR 716 million (December 30, 2007:
EUR 635 million). Fair value represents the price at which a property could be sold to a knowledgeable, willing party, and has
generally been determined based on internal appraisals, using discounted cash flow projections. In certain instances, Ahold cannot
determine the fair value of the investment property reliably. In such cases, the fair value is assumed to be equal to the carrying
amount.
Rental income from investment property included in the consolidated income statement amounted to EUR 72 million
(2007: EUR 64 million which was increased by EUR 6 million to correct the amount disclosed in Ahold's 2007 Annual Report).
Direct operating expenses (including repairs and maintenance) arising from rental income generating investment property in
2008 amounted to EUR 34 million (2007: EUR 38 million). Direct operating expenses (including repairs and maintenance)
arising from vacant investment property in 2008 amounted to EUR 5 million (2007: EUR 8 million).
Lease-related
Customer
Under
million
Goodwill
intangibles
Software
relationships
development
Other
Total
As of December 31, 2006
At cost
2,205
219
476
262
52
208
3,422
Accumulated amortization and impairment losses
(21)
(94)
(397)
(187)
(69)
(768)
Carrying amount
2,184
125
79
75
52
139
2,654
Year ended December 30, 2007
Acquisitions/additions
27
3
50
8
10
32
130
Amortization
(10)
(43)
(19)
(21)
(93)
Impairment losses
(2)
(2)
(3)
(2)
(1)
(10)
Classified as held for sale or sold
(1,905)
(8)
(23)
(48)
(19)
(13)
(2,016)
Other movements
17
6
3
(1)
(8)
17
Exchange rate differences
(52)
(12)
(5)
(3)
(1)
(6)
(79)
Closing carrying amount
252
113
61
16
39
122
603
As of December 30, 2007
At cost
261
212
417
39
39
213
1,181
Accumulated amortization and impairment losses
(9)
(99)
(356)
(23)
(91)
(578)
Carrying amount
252
113
61
16
39
122
603
Year ended December 28, 2008
Additions
1
39
22
36
98
Acquisitions through business combinations
5
13
1
1
20
Amortization
(10)
(30)
(4)
(10)
(54)
Impairment losses
(1)
(2)
(3)
Classified as held for sale or sold
(9)
(6)
(1)
(62)
(78)
Other movements
3
(2)
2
(3)
Exchange rate differences
3
4
1
1
1
2
12
Closing carrying amount
251
120
68
12
61
86
598
As of December 28, 2008
At cost
254
229
426
39
61
121
1,130
Accumulated amortization and impairment losses
(3)
(109)
(358)
(27)
(35)
(532)
Carrying amount
251
120
68
12
61
86
598
