Consolidated statements of income

in millions of euros unless otherwise stated
Consolidated statements of income of the Philips Group for the years ended December 31
 
2011
2012
2013
 
 
 
 
Sales
20,992
23,457
23,329
Cost of sales
(12,732)
(14,466)
(13,641)
 
 
 
 
Gross margin
8,260
8,991
9,688
 
 
 
 
Selling expenses
(5,025)
(5,334)
(5,075)
General and administrative expenses
(802)
(845)
(949)
Research and development expenses
(1,605)
(1,831)
(1,733)
Impairment of goodwill
(1,355)
(28)
Other business income
124
275
123
Other business expenses
(76)
(608)
(35)
 
 
 
 
Income from operations
(479)
648
1,991
 
 
 
 
Financial income
113
106
70
Financial expenses
(444)
(435)
(400)
 
 
 
 
Income before taxes
(810)
319
1,661
 
 
 
 
Income tax expense
(251)
(185)
(466)
 
 
 
 
Income (loss) after taxes
(1,061)
134
1,195
 
 
 
 
Results relating to investments in associates:
 
 
 
- Company’s participation in income
18
(5)
5
- Other results
(3)
(206)
(30)
 
 
 
 
Income (loss) from continuing operations
(1,046)
(77)
1,170
 
 
 
 
Discontinued operations - net of income tax
(410)
47
2
 
 
 
 
Net income (loss)
(1,456)
(30)
1,172
 
 
 
 
Attribution of net income (loss)
 
 
 
Net income (loss) attributable to shareholders
(1,460)
(35)
1,169
Net income (loss) attributable to non-controlling interests
4
5
3

Earnings per common share attributable to shareholders
 
2011
2012
2013
 
 
 
 
Basic earnings per common share in euros
 
 
 
Income (loss) from continuing operations attributable to shareholders
(1.10)
(0.09)
1.28
Net income (loss) attributable to shareholders
(1.53)
(0.04)
1.28
 
 
 
 
Diluted earnings per common share in euros1)
 
 
 
Income (loss) from continuing operations attributable to shareholders
(1.10)
(0.09)
1.27
Net income (loss) attributable to shareholders
(1.53)
(0.04)
1.27
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.
1)
The Dilutive potential common shares are not taken into account in the periods for which there is a loss, as the effect would be antidilutive
(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.