13 Commitments and contingencies
Ahold Annual Report 2012 149
Ahold at a glance
Our strategy
Our performance
Governance
Financials
Investors
Notes to the parent company
financial statements
Notes and loans issued by certain subsidiaries are guaranteed by the parent company, as disclosed in Note 21 to the consolidated financial statements. The parent company also guarantees
certain lease obligations and other obligations of subsidiaries. Guarantees issued by the parent company regarding the financial obligations of third parties and non-consolidated entities
amount to €654 million as of December 30, 2012 (January 1, 2012: €777 million).
As part of the divestment of U.S. Foodservice in 2007, Ahold received an irrevocable standby letter of credit for $216 million (€1 67 million), which was reduced to $103 million (€78 million)
as of December 30, 2012. As part of the divestment of Ahold's Polish retail operations, Ahold received a guarantee from Carrefour for €1 52 million in June 2007, which matured during
2012.
Under customary provisions, the parent company guarantees certain representations and warranties made in agreements of asset disposals. Guarantees and legal proceedings are further
disclosed in Note 34 to the consolidated financial statements. The parent company forms a fiscal unity with Ahold's major Dutch and certain other subsidiaries for Dutch corporate income tax
and Dutch VAT purposes and, for that reason, it is jointly and severally liable for the Dutch corporate income tax liabilities and Dutch VAT liabilities of the whole fiscal unity. Assumptions
of liability pursuant to section 403, Book 2 of the Netherlands Civil Code are disclosed in Note 36 to the consolidated financial statements.
Amsterdam, the Netherlands
February 27, 2013
Corporate Executive Board
Dick Boer
Jeff Carr
Lodewijk Hijmans van den Bergh
James McCann
Supervisory Board
René Dahan (Chairman)
Tom de Swaan (Vice Chairman)
Derk Doijer
Stephanie Shern
Judith Sprieser
Mark McGrath
Ben Noteboom
Rob van den Bergh
