95
15 Other non-current financial assets
16 Inventories
Ahold
Annual Report 2011
Groupata glance
Performance
Governance
Investors
Notes to the consolidated financial statements continued
million
January 1
2012
January 2,
2011
Derivative financial instruments
239
346
Defined benefit asset
498
408
Reinsurance assets
64
58
Loans receivable
32
32
Other
26
9
Total other non-current financial assets 859 853
For more information on derivative financial instruments and fair values, see Note 30.
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. For more information on defined benefit
plans, see Note 23.
Of the non-current loans receivable, €8 million matures between one and five years and €24 million after five years (January 2, 2011:
€7 million between one and five years and €25 million after five years). The current portion of loans receivable of €4 million is included in
other receivables (January 2, 2011€67 million).
Under the self-insurance program, part of the insurance risk is ceded under a reinsurance treaty, which is a pooling arrangement between
unrelated companies. At the same time, Ahold assumes a share of the reinsurance treaty risks that is measured by Ahold's participation
percentage in the treaty. The participation percentage is the ratio of premium paid by Ahold to the total premium paid by all treaty
members. In connection with this pooling arrangement, the Company recognizes reinsurance assets and reinsurance liabilities
(see also Notes 18, 22, and 26) on its balance sheet. There were no significant gains or losses related to this pooling arrangement
during 2011 or 2010.
million
January 1,
2012
January 2,
2011
Finished products and merchandise inventories
1,468
1,330
Raw materials, packaging materials, technical supplies, and other
41
45
1,509
1,375
Valuation allowance
(43)
(44)
Total inventories
1,466
1,331
In 2011€549 million has been recognized as a write-off of inventories in the income statement (2010: €568 million).
