Philips 2005 Annual Report Download - page 215

Philips Annual Report 2005 215
intheEuropeanUnionintheirconsolidatednancialstatementstouse
thesameaccountingprinciplesintheCompanynancialstatements.
Companynancialstatementsthatarebasedonthisprovisionqualifyas
nancialstatementsunderDutchlaw.
ThenancialstatementsofRoyalPhilipsElectronics(the‘Company’)
principlesasusedintheconsolidatednancialstatements,inorder
tomaintaintheconsistencybetweentheguresintheconsolidated
nancialstatementsandthenancialstatementsoftheCompany.The
afliatedcompanies.Theaccountingprinciplesareexplainedstarting
atpage186intheconsolidatednancialstatements.Foranexplanation
nancialstatementsandDutchGAAP,pleaserefertothereconciliation
investmentinafliatedcompanies.Foranexplanationofthechangesin
afliatedcompaniesandequity,pleaserefertothereconciliationfrom
Presentation of nancial statements
Notes to the company nancial statements of
ThenancialstatementsofKoninklijkePhilipsElectronicsN.V.
ofRoyalPhilipsElectronicsonlyreectthenetafter-taxincomeof
afliatedcompaniesandotherincomeaftertaxes.
Investments in afliated companies
Theinvestmentsinafliatedcompaniesareincludedinthebalance
aforementionedaccountingprinciplesoftheconsolidatednancial
After-taxincome(loss)fromafliated
−
−
−
Alistofsubsidiariesandafliatedcompanies,preparedinaccordance
Articles379and414),isdepositedattheofceoftheCommercial
AA
BB
C
Other non-current nancial assets
security
investments
other
receivables total
Balance as of January 1, 2005 146 22 168
Changes:
Sales/redemptions (45) 1 (44)
Value adjustments 14 8 22
Translation and exchange differences – 4 4
Balance as of December 31, 2005 115 35 150
Includedinothernon-currentnancialassetsareparticipationsand
securities that generate income unrelated to the normal business
operations.
D
Property, plant and equipment
Balance as of January 1, 2005:
Cost 1
Accumulated depreciation –
Book value 1
Changes in book value:
Capital expenditures –
Retirements and sales –
Depreciation and write-downs –
Total changes –
Balance as of December 31, 2005:
Cost 1
Accumulated depreciation –
Book value 1
Property,plantandequipmentconsistofxedassetsotherthanland
and buildings.
E
Intangible xed assets
Balance as of January 1, 2005:
Acquisition cost 956
Accumulated amortization (811)
Book value 145
Changes in book value:
Acquisitions 15
Impairment losses −
Amortization and write-downs (10)
Translation differences 21
Total changes 26
Balance as of December 31, 2005:
Acquisition cost 1,104
Accumulated amortization (933)
Book value 171
Theintangiblexedassetsrepresentgoodwillandotherintangibles
arising from acquisitions and expenditures for patents and trademarks.
Acquisitions comprise various small investments.
The amortization period ranges between 5 and 15 years.
F
Other current liabilities
2004 2005
Income tax payable 67 3
Other short-term liabilities 62 133
Deferred income and accrued expenses 343 326
Derivative instruments – liabilities 138 324
610 786
G
Short-term debt
Short-term debt includes the current portion of outstanding long-term
debt amounting to EUR 430 million (2004: EUR 454 million) and debt to
other Group companies totaling EUR 15,988 million (2004: EUR 9,693
million).InstitutionalnancingwasoutstandingtotalingEUR65million
(2004: nil).
H
Provisions
2004 2005
Pensions 9 6
Deferred tax liabilities 205 274
Other 14 5
228 285
of which long-term 189 229
of which short-term 39 56
As almost all obligations in connection with pension plans have been
covered by separate pension funds or third parties, the provision for
pensions refers to additional payments that the Company intends to
make in the future.
CC
DD
EE
FF
GG
HH