H 113 fitilUE3 15 Other non-current financial assets 16 Inventories Our strategy Our performance Governan Financials Investors Ahold Annual Report 2013 million December 29, 2013 December 30, 2012 (restated)1 Derivative financial instruments 278 280 Defined benefit asset 5 23 Reinsurance assets 89 68 Loans receivable 32 35 Other 11 14 Total other non-current financial assets 415 420 1 See Note 3 for an explanation of the restatements. 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 fair value of plan assets exceeds the present value of the defined benefit obligations. For more information on defined benefit plans, see Note 23. Of the non-current loans receivable, €17 million matures between one and five years and €15 million after five years (December 30, 2012: €12 million between one and five years and €23 million after five years). The current portion of loans receivable of €5 million is included in other receivables (December 30, 2012: €3 million). Part of the self-insured 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 2013 or 2012. December 29, December 30, million 2013 2012 Finished products and merchandise inventories 1,410 1,447 Raw materials, packaging materials, technical supplies and other 40 45 Total inventories 1,450 1,492 In 201 3, €644 million has been recognized as a write-off of inventories in the income statement (2012: €645 million). The write-off of inventories is Ahold's best estimate based on significant assumptions applied to certain products measured using the retail method. The write-off may vary from year to year due to various factors, including exchange rate differences and inflation.

Jaarverslagen | 2013 | | pagina 16