Food Lion 2009 Annual Report Download - page 142

138 - Delhaize Group - Annual Report 2009
CONSOLIDATED STATEMENT
OF CHANGES IN EQUITY
CONSOLIDATED STATEMENT
OF CASH FLOWS
NOTES TO THE FINANCIAL
STATEMENTS
CONSOLIDATED STATEMENT
OF COMPREHENSIVE INCOME
CONSOLIDATED INCOME
STATEMENT
CONSOLIDATED BALANCE SHEET
Compensation of Executive Management
The table below sets forth the number of restricted stock unit awards, stock options and warrants granted by the Company and its subsidiaries
during 2009, 2008 and 2007 to its Executive Management. For more details on the share-based incentive plans, see Note 21.3.
2009 2008 2007
Restricted stock unit awards 39 159 37 546 26 760
Stock options and warrants 175 795 176 400 122 579
For information regarding the number of restricted stock unit awards, stock options and warrants granted as well as the compensation effec-
tively paid (for services provided in all capacities to the Company and its subsidiaries) during the respective years to the Chief Executive Officer
and the members of the Executive Committee, we refer to the “Corporate Governance” section in this annual report.
The aggregate compensation for the members of Executive Management recognized in the income statement is stated below.
Amounts are gross amounts before deduction of withholding taxes and social security levy. They do not include the compensation of the CEO as
director of the Company that is separately disclosed above. In 2008, the aggregate compensation included the pro-rate share of compensation
of one member of the Executive Management who resigned in September 2008. For 2007, they included the pro-rata share of compensation of
two members of the Executive Management who retired from their executive positions on June 30, 2007 and the pro-rata share of the member
of the Executive Management appointed on February 26, 2007.
(in millions of EUR) 2009 2008 2007
Short-term benefits(1) 7 6 7
Retirement and post-employment benefits(2) 1 1 1
Other long-term benefits(3) 1 2 4
Share-based compensation 3 3 3
Employer social security contributions 1 1 2
Total compensation expense recognized in the income statement 13 13 17
(1) Short-term benefits include the annual bonus payable during the subsequent year for performance achieved during the respective years.
(2) The members of Executive Management benefit from corporate pension plans, which vary regionally, including a defined benefit group insurance plan for European members, that is contributory and based
on the individual’s career length with the Company. U.S. members of Executive Management participate in profit sharing plans and defined benefit plans. Amounts represent the employer contributions for
defined contribution plans and the employer service cost for defined benefit plans.
(3) Other long-term benefits include the performance cash component of the Long-Term Incentive Plan that was established in 2003. The grants of the performance cash component provide for cash payments to
the grant recipients at the end of a three-year performance period based upon achievement of clearly defined targets, with a transition period ending in 2006. Amounts represent the expense recognized by
the Company during the respective years, as estimated based on realized and projected performance. Estimates are adjusted every year and when payment occurs.
33. Commitments
Purchase obligations include agreements to purchase goods or services that are enforceable and legally binding on the Company and that
specify all significant terms including: fixed or minimum quantities to be purchased; fixed, minimum or variable price provisions, and the
approximate timing of the transaction. Agreements that can be cancelled within 30 days of the reporting date without penalty are excluded.
As of December 31, 2009, purchase obligations amounted to EUR 174 million (2008: EUR 229 million, 2007: EUR 157 million), of which EUR 30
million relates to the acquisition of property, plant and equipment and / or intangible assets.
Commitments related to lease obligations are disclosed in Note 18.3.