H
150
33 Operating leases (continued)
34 Commitments and contingencies
Ahold at a glance
Notes to the consolidated
financial statements
Our strategy
Our performance
Governan
Financials
Investors
Ahold Annual Report 2013
The annual costs of Ahold's operating leases from continuing operations, net of sublease income, are as follows:
million
2013
2012
(restated)1
Minimum rentals
705
676
Contingent rentals
21
28
Sublease income
(111)
(105)
Total
615
599
1 See Note 3 for an explanation of the restatements.
During the fourth quarter Ahold closed six stores and three gas stations in the New Hampshire area, as announced on August 6, 2013. In the annual costs relating to minimum rentals for
2013, costs are included for the provision to cover the lease exposure for the closed locations.
In addition to the operating lease commitments disclosed above, Ahold has signed lease agreements for properties under development of which it has not yet taken possession. The total future
minimum lease payments for these agreements amount to approximately €1 84 million (2012: €195 million). These lease contracts are subject to conditions precedent to the rent
commencement date.
Ahold as lessor
Ahold rents out its investment properties (mainly retail units in shopping centers containing an Ahold store) and also (partially) subleases various other properties that are leased by Ahold under
operating leases. The aggregate amounts of the related future minimum lease and sublease payments receivable under non-cancelable lease contracts are as follows:
December 29,
December 30,
million
2013
2012 (restated)1
Within one year
180
180
Between one and five years
474
493
After five years
353
417
Total
1,007
1,090
1 See Note 3 for an explanation of the restatements.
The total contingent rental income recognized during the year on all leases where Ahold is the lessor was €2 million (2012: €3 million).
Capital investment commitments
As of December 29, 2013, Ahold had outstanding capital investment commitments for property, plant and equipment and investment property, and for intangible assets of approximately
€126 million and €6 million, respectively (December 30, 2012: €124 million and €3 million, respectively). Ahold's share in the capital investment commitments of its unconsolidated joint
venture JMR amounted to €6 million as of December 29, 2013 (December 30, 2012: €6 million).
