Financial fixed assets

The investments in group companies and associates are presented as financial fixed assets in the balance sheet using the equity method. Goodwill paid upon acquisition of investments in group companies or associates is included in the net equity value of the investment and is not shown separately on the face of the balance sheet.

Loans are provided to group companies and associates and are stated at amortized cost, less impairment.

 
 
investments in group companies
investments in associates
loans
total
 
 
 
 
 
Balance as of January 1, 2013
10,407
87
6,103
16,597
Changes:
 
 
 
 
Reclassification
(3)
(3)
Acquisitions/additions
2,632
529
3,161
Sales/redemptions
(131)
(2)
(524)
(657)
Net income from affiliated companies
1,309
(8)
1,301
Dividends received
(340)
(340)
Translation differences
(458)
(3)
(235)
(696)
Other
172
172
Balance as of December 31, 2013
13,591
71
5,873
19,535

A list of investments in group companies, prepared in accordance with the relevant legal requirements (Dutch Civil Code, Book 2, Sections 379 and 414), is deposited at the Chamber of Commerce in Eindhoven, The Netherlands.

In December 2013, investments in group companies increased by EUR 2,111 million due to the purchase of 25% of a group company which was previously owned by another group company. This transaction was executed in view of our continued effort to restructure and optimize our foreign based intra-group finance activities. In addition, investments in group companies also increased by EUR 517 million as a result of capital injections. These transactions reflect most of the increase in the line Acquisitions/additions.

(0)
(0)
This is an interactive electronic version of the Philips Annual Report 2013 and also contains certain information in summarized form. The contents of this version are qualified in their entirety by reference to the printed version of the full Philips Annual Report 2013. This printed version is available as a PDF file on this website. Information about: forward-looking statements, third-party market share data, fair value information, IFRS basis of presentation, use of non-GAAP information, statutory financial statements and management report, reclassifications and analysis of 2013 compared to 2012.