17 Receivables continued
-
18 Other current financial assets
19 Cash and cash equivalents
20 Equity attributable to common shareholders
Ahold
Annual Report 2011
Groupata glance
Performance
Governance
Notes to the consolidated financial statements continued
Investors
The changes in the provision for impairment were as follows:
million
2011
2010
Beginning of the year
(18)
(19)
Additions
(15)
(15)
Used
7
8
Released to income
10
9
Exchange rate differences
(1)
End of the year
(16)
(18)
January 1
January 2,
million
2012
2011
Short-term deposits
154
224
Reinsurance assets - current portion (see Note 15)
39
19
Other
143
2
Total other current financial assets
336
245
Short-term deposits include cash time deposits. These deposits are fully collateralized, mainly by equity securities and government and
sovereign bonds.
As of January 1, 2012, Other mainly consists of a current portion of the derivative financial instruments of €141 million (cash flow hedges)
that relate to the EUR 600 million notes due in March 2012.
For more information on financial instruments and fair values, see Note 30.
January 1
January 2,
million
2012
2011
Cash in banks and cash equivalents
2,090
2,312
Cash on hand
348
288
Total cash and cash equivalents
2,438
2,600
Of the cash and cash equivalents as of January 1, 2012, €31 million was restricted (January 2, 2011: €21 million). This primarily consisted
of cash held for insurance purposes for U.S. workers' compensation and general liability programs and cash held in escrow accounts
mainly related to construction activities.
Ahold's banking arrangements allow the Company to fund outstanding checks when presented to the bank for payment. This cash
management practice may result in a net cash book overdraft position, which occurs when the total issued checks exceed available cash
balances within the Company's cash concentration structure. Such book overdrafts are classified in accounts payable and amounted to
€181 million and €138 million as of January 1, 2012 and January 2, 2011, respectively. No right to offset with other bank balances exists
for these book overdraft positions.
Shares and share capital
Authorized share capital is comprised of the following classes of shares as of January 1, 2012:
million
Common shares (1,700,000,000 of €0.30 par value each)
Cumulative preferred shares (1,250,000 of €500 par value each)
510
625
Total authorized share capital
1,135
In addition, Ahold has cumulative preferred financing shares outstanding. These cumulative preferred financing shares are considered
debt under IFRSs until the date that Ahold receives irrevocable notification from a holder of cumulative preferred financing shares to
convert these shares into common shares. Upon this notification, the cumulative preferred financing shares are classified as a separate
class of equity since they no longer meet the definition of a liability. For disclosures regarding Ahold's cumulative preferred financing
shares, see Note 22.
