H
KÜ1I3E3
95
5 Assets and liabilities held for sale and discontinued operations (continued)
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Ahold at a glance
Notes to the consolidated
financial statements
Our strategy
Our performance
Governan
Financials
Investors
Ahold Annual Report 2013
Discontinued operations
Income from discontinued operations is specified as follows:
million
2013
2012
(restated)1
ICA
137
75
Slovakia
(3)
(26)
Other
2
Operating results from discontinued operations2
136
49
ICA
1,614
Slovakia
(20)
BI-LO Bruno's
3
3
Various3
(1)
(6)
Results on divestments4
1,596
(3)
Income from discontinued operations, net of income taxes
1,732
46
1 See Note 3 for an explanation of the restatements.
2 Operating results from discontinued operations are alter net income tax benefits of €8 million and nil in 2013 and 2012, respectively.
3 Includes adjustments to the results on various other past divestments.
4 Results on divestments are after net income tax benefits of €9 million and nil in 2013 and 2012, respectively.
See Note 28 for the reconciliation between cash received and results on divestments of discontinued operations.
ICA
On February 10, 2013, Ahold reached a sale agreement with Hakon Invest regarding its 60% holding in ICA for proceeds of SEK 20 billion. Upon the sale agreement, Ahold's investment in
ICA was classified as a discontinued operation and the transaction was completed on March 27, 2013.
The 2013 operating results from discontinued operations includes Ahold's proportionate share in ICA's operating results for the month of January 201 3 of a €2 million loss, as well as a
dividend of SEK 1.2 billion (€142 million) received from ICA. The expected cash flows from the receipt of the dividend were subject to a cash flow hedge and, consequently, Ahold recognized
€1 39 million of dividend income (€142 million dividend receivable at the date of recognition less the effect of the cash flow hedge of €3 million).
An amount of €73 million, previously reported as share in income from joint ventures, has been reclassified to income from discontinued operations in the comparative figures (restated to €75
million as a result of retrospective application of IAS 19 "Employee Benefits," (as revised June 2011see Note 3).
