Notes to the
consolidated
financial statements
continued
12 Investment property
Overview
Business review
Governance
Financials
Investors
Ahold Delhaize Annual Report 2016
2016
2015
15
I Included €171 million for the fair value of the investment property recognized in connection with the merger between Ahold and Delhaize (see Note 4).
In 2016, Ahold Delhaize recognized net impairment losses of €10 million. These were related to Ahold USA (€10 million).
A significant portion of the Company’s investment property comprises shopping centers containing both an Ahold Delhaize store and third-party
retail units. The third-party retail units generate rental income, but are primarily of strategic importance to Ahold Delhaize in its retail operations.
Ahold Delhaize recognizes the part of a shopping center leased to a third-party retailer as investment property, unless it represents an insignificant
portion of the property.
The carrying amount of investment property includes an amount related to assets held under finance leases and financings of €35 million and
€42 million (January 3, 2016: €25 million and €43 million), respectively. Ahold Delhaize does not have legal title to these assets. Company-owned
investment property with a carrying amount of €93 million (January 3, 2016: €79 million) has been pledged as security for liabilities, mainly
for loans.
Additions
Acquisitions through business combinations1
Depreciation
Impairment losses and reversals - net
Assets classified to held for sale or sold
Transfers from property, plant and equipment and lease-related intangibles
Exchange rate differences
Closing carrying amount
At the end of the year
At cost
Accumulated depreciation and impairment losses
Carrying amount
1,119
(392)
727
10
171
(28)
(10)
(15)
1
18
727
934
(354)
580
934
(354)
580
893
(333)
560
(25)
(3)
(20)
4
49
580
million
At the beginning of the year
At cost
Accumulated depreciation and impairment losses
Carrying amount
