Notes to the parent company financial statements
151
15 Commitments and contingencies
Management Board
Supervisory Board
Ahold at a glance
Business review
Governance
Financials
Ahold
Annual Report 2014
Notes and loans issued by certain subsidiaries are guaranteed by the parent company, as disclosed in Note 21 to the consolidated financial statements. The parent company also guarantees certain lease obligations
and other obligations of subsidiaries. Guarantees issued by the parent company regarding the financial obligations of third parties and non-consolidated entities amount to €561 million as of December 28, 2014
(December 29, 2013: €554 million).
As part of the divestment of U.S. Foodservice in 2007 Ahold received an irrevocable standby letter of credit for $216 million (€163 million), which was reduced to $83 million (€68 million) as of December 28, 2014.
Under customary provisions, the parent company guarantees certain representations and warranties made in agreements of asset disposals. Guarantees and legal proceedings are further disclosed in Note 34 to the
consolidated financial statements. The parent company forms a fiscal unity with Ahold's major Dutch and certain other subsidiaries for Dutch corporate income tax and Dutch VAT purposes and, for that reason, it is jointly and
severally liable for the Dutch corporate income tax liabilities and Dutch VAT liabilities of the whole fiscal unity. Assumptions of liability pursuant to section 403, Book 2 of the Dutch Civil Code are disclosed in Note 36 to the
consolidated financial statements.
Zaandam, the Netherlands
February 25, 2015
Dick Boer
Jeff Carr
Lodewijk Hijmans van den Bergh
James McCann
Rob van den Bergh (Chairman ad interim)
Judith Sprieser (Vice Chairman)
Stephanie Shern
Jan Hommen
Derk Doijer
Mark McGrath
Ben Noteboom
