Philips 2004 Annual Report Download - page 189
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The financial statements of Koninklijke Philips Electronics N.V. (‘Royal Philips Electronics’), the
parent company of the Philips Group, are included in the consolidated statements of the Philips
Group. Therefore the unconsolidated statements of income of Royal Philips Electronics only
reflect the net after-tax income of affiliated companies and other income after taxes.
With respect to the accounting principles, see page 176 of the Dutch GAAP consolidated
financial statements, which form part of these notes.
O
AReceivables
2004 2003
Trade accounts receivable 204 149
Group companies 7,694 4,930
Unconsolidated companies 225
Other receivables 89
Advances and prepaid expenses 17 16
Deferred tax assets 53 58
Income tax receivable 54
Derivative instruments – assets 520 401
Total 8,503 5,592
An amount of EUR 34 million included in receivables is due after one year (2003: EUR 48 million).
O
BInvestments in affiliated companies
The investments in affiliated companies are included in the balance sheet based on either their
net asset value in conformity with the aforementioned accounting principles of the consolidated
financial statements or their purchase price. Moreover, goodwill is included for an amount of
EUR 698 million (2003: EUR 844 million).
The amortization period of goodwill ranges between 5 and 15 years.
total investments loans
Balance as of January 1, 2004 14,754 10,031 4,723
Changes:
Acquisitions/additions 808 703 105
Sales/redemptions (1,335) (112) (1,223)
After-tax income (loss) from affiliated companies:
- Amortization of goodwill (232) (232) –
- Remaining income 2,663 2,663 –
Dividends received (572) (572) –
Translation differences/other changes (373) (197) (176)
Balance as of December 31, 2004 15,713 12,284 3,429
A list of affiliated companies, prepared in accordance with the relevant legal requirements, is
deposited at the Commercial Register in Eindhoven, the Netherlands.
188 Philips Annual Report 2004
Notes to the financial statements of Royal Philips Electronics
all amounts in millions of euros unless otherwise stated