H
113
fitilUE3
15 Other non-current financial assets
16 Inventories
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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.