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Non-GAAP measures (continued)
Ahold at a glance Our strategy
Our performance
Governan
Financials
Investors
Ahold Annual Report 2013
Total shareholder return
Total Shareholder Return (TSR) is the sum of share
price growth and dividends paid. In this report, we
disclose TSR as defined for the purposes of Ahold's
Global Reward Opportunity (GRO) program.
A daily TSR index obtained from Thomson Reuters
is averaged over a six-month period preceding the
year end (average TSR index). Annual TSR is an
increase in the average TSR index compared to the
average TSR index in the previous year.
Underlying operating income
Total operating income, adjusted for impairments of
non-current assets, gains and losses on the sale of
assets, restructuring and related charges, and other
unusual items. Ahold's management believes this
measure provides better insight into the underlying
operating performance of Ahold's operations.
Management believes that these non-GAAP
financial measures allow for a better understanding
of Ahold's operating and financial performance.
These non-GAAP financial measures should be
considered in addition to, but not as substitutes for,
the most directly comparable IFRS measures.
