2 www.ahold.com/reports2008
Notes to the consolidated financial statements
15 Other non-current financial assets
16 Inventories
17 Receivables
Financial statements
AHOLD ANNUAL REPORT 2008 71
December 28, December 30,
million 2008 2007
Derivative financial instruments 259 328
Defined benefit asset 112 19
Loans receivable 87 36
Other 27 14
Total other non-current financial assets 485 397
For more information on derivative financial instruments and fair values, see Note 29.
The defined benefit asset represents defined benefit pension plans for which the present value of the defined benefit obligations,
less the fair value of plan assets, adjusted for unrecognized actuarial gains or losses results in a net asset. The asset reflects Ahold's
unconditional right to a refund assuming the gradual settlement of the plan liabilities over time until all members have left the plan
and accordingly the defined benefit asset is not realizable immediately as of December 28, 2008. For more information on defined
benefit plans, see Note 22.
Of the non-current loans receivable, EUR 63 million matures between one and five years and EUR 24 million after five years.
The current portion of loans receivable of EUR 9 million is included in other receivables (December 30, 2007: EUR 42 million).
Loans receivable as of December 28, 2008 include EUR 52 million of preference shares, which carry an accumulated fixed
cumulative dividend of 6.5 percent per year. Ahold acquired these shares in 2008 as part of the transaction with CVC and
Schuitema. For more information, see Note 5.
December 28,
December 30,
million
2008
2007
Finished products and merchandise inventories
1,337
1,279
Raw materials, packaging materials, technical supplies and other
31
36
1,368
1,315
Valuation allowance
(49)
(52)
Total inventories
1,319
1,263
In 2008, EUR 212 million has been recognized as a write-off of inventories in the consolidated income statement
(2007: EUR 195 million, which was increased by EUR 110 million to correct the amount disclosed in Ahold's 2007 Annual
Report), of which EUR 0 million (2007: EUR 26 million) related to discontinued operations.
December 28,
December 30,
million
2008
2007
Trade receivables
380
458
Vendor allowance receivables
219
287
Other receivables
163
246
762
991
Provision for impairment
(18)
(50)
Total receivables
744
941
Other receivables include the current portion of loans receivable of EUR 9 million (December 30, 2007: EUR 42 million). In 2007,
this included EUR 27 million of loans that had been granted to assist managers and other employees of the Company with
information on investments in the Albert Heijn Vaste Klanten Fonds ("Dutch Customer Fund"). These loans were repaid in 2008.
For more information on the Dutch Customer Fund, see Note 30.
