Consolidated balance sheets

in millions of euros unless otherwise stated

Consolidated balance sheets of the Philips Group as of December 31

Assets
 
 
2012
 
2013
 
 
 
 
 
Non-current assets
 
 
 
 
 
 
 
 
 
Property, plant and equipment:
 
 
 
 
- At cost
7,880
 
7,692
 
- Less accumulated depreciation
(4,921)
 
(4,912)
 
 
 
2,959
 
2,780
Goodwill
 
6,948
 
6,504
 
 
 
 
 
Intangible assets excluding goodwill:
 
 
 
 
- At cost
7,821
 
7,638
 
- Less accumulated amortization
(4,090)
 
(4,376)
 
 
 
3,731
 
3,262
Non-current receivables
 
176
 
144
 
 
 
 
 
Investments in associates
 
177
 
161
 
 
 
 
 
Other non-current financial assets
 
549
 
496
 
 
 
 
 
Deferred tax assets
 
1,919
 
1,675
 
 
 
 
 
Other non-current assets
 
94
 
63
 
 
 
 
 
Total non-current assets
 
16,553
 
15,085
 
 
 
 
 
 
 
 
 
 
Current assets
 
 
 
 
 
 
 
 
 
Inventories - net
 
3,495
 
3,240
 
 
 
 
 
Current financial assets
 
 
10
 
 
 
 
 
Other current assets
 
337
 
354
 
 
 
 
 
Derivative financial assets
 
137
 
150
 
 
 
 
 
Income tax receivable
 
97
 
70
 
 
 
 
 
Receivables:
 
 
 
 
- Accounts receivable - net
4,334
 
4,420
 
- Accounts receivable from related parties
13
 
39
 
- Other current receivables
238
 
219
 
 
 
4,585
 
4,678
 
 
 
 
 
Assets classified as held for sale
 
43
 
507
 
 
 
 
 
Cash and cash equivalents
 
3,834
 
2,465
 
 
 
 
 
Total current assets
 
12,528
 
11,474
 
 
 
 
 
Contingent assets
 
 
 
 
 
 
 
 
 
Total assets
 
29,081
 
26,559

Equity and liabilities
 
 
2012
 
2013
Equity
 
 
 
 
 
 
 
 
 
Shareholders’ equity:
 
 
 
 
Preference shares, par value EUR 0.20 per share:
 
 
 
 
- Authorized: 2,000,000,000 shares (2012: 2,000,000,000 shares), issued none
 
 
 
 
Common shares, par value EUR 0.20 per share:
 
 
 
 
- Authorized: 2,000,000,000 shares (2012: 2,000,000,000 shares)
 
 
 
 
- Issued and fully paid: 937,845,789 shares (2012: 957,132,962 shares)
191
 
188
 
Capital in excess of par value
1,304
 
1,796
 
Retained earnings
10,724
 
10,415
 
Revaluation reserve
54
 
23
 
Currency translation differences
(93)
 
(569)
 
Available-for-sale financial assets
54
 
55
 
Cash flow hedges
20
 
24
 
Treasury shares, at cost 24,508,022 shares (2012: 42,541,687 shares)
(1,103)
 
(718)
 
 
 
11,151
 
11,214
 
 
 
 
 
Non-controlling interests
 
34
 
13
 
 
 
 
 
Group equity
 
11,185
 
11,227
 
 
 
 
 
Non-current liabilities
 
 
 
 
 
 
 
 
 
Long-term debt
 
3,725
 
3,309
Long-term provisions
 
2,119
 
1,903
Deferred tax liabilities
 
92
 
76
Other non-current liabilities
 
2,005
 
1,568
 
 
 
 
 
Total non-current liabilities
 
7,941
 
6,856
 
 
 
 
 
Current liabilities
 
 
 
 
 
 
 
 
 
Short-term debt
 
809
 
592
Derivative financial liabilities
 
517
 
368
Income tax payable
 
200
 
143
Accounts and notes payable:
 
 
 
 
- Trade creditors
2,835
 
2,458
 
- Accounts payable to related parties
4
 
4
 
 
 
2,839
 
2,462
Accrued liabilities
 
3,171
 
2,830
Short-term provisions
 
837
 
651
 
 
 
 
 
Liabilities directly associated with assets held for sale
 
27
 
348
 
 
 
 
 
Other current liabilities
 
1,555
 
1,082
 
 
 
 
 
Total current liabilities
 
9,955
 
8,476
 
 
 
 
 
Contractual obligations and contingent liabilities
 
 
 
 
 
 
 
 
 
Total liabilities and group equity
 
29,081
 
26,559
Prior-period financial statements have been restated for the treatment of Audio, Video, Multimedia and Accessories as discontinued operations (see note (7) Discontinued operations and other assets classified as held for sale) and the adoption of IAS 19R, which mainly relates to accounting for pensions (see note (30) Post-employment benefits). The accompanying notes are an integral part of these consolidated financial statements.
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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.