1 1 1 1
B Ell
IBB
Notes to the consolidated financial statements
96
14 Investments in joint ventures and associates (continued)
Commitments and contingent liabilities in respect of joint ventures and associates
15 Other non-current financial assets
Ahold
Annual Report 2014
The information presented below represents a reconciliation of the summarized financial information presented above to the carrying amount of JMR.
millior
JMR
2014
JMR
2013
Opening net assets attributable to JMR
341
375
Net income
46
18
Other comprehensive income
1
1
Dividend
(34)
(53)
Closing net assets attributable to JMR
354
341
Interest in joint venture
49%
49%
Carrying value
173
167
There are no contingent liabilities or significant restrictions relating to the Company's interest in the joint ventures and associates. The commitments are presented in Note 31.
December 28, December 29,
2014 2013
Derivative financial instruments 310
Defined benefit asset 5 5
Reinsurance assets 117 89
Loans receivable 36 32
Other 14 11
Total other non-current financial assets 482 415
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, €18 million matures between one and five years and €18 million after five years (December 29, 2013: €17 million between one and five years and €15 million after five years). The current
portion of loans receivable of €4 million is included in other receivables (December 29, 2013: €5 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 2014 or 2013.
