Philips 2006 Annual Report Download - page 174

Philips Annual Report 2006174
2004 2005 2006
Sales 24,855 25,775 26,976
Cost of sales (16,944 ) (17,872 ) (18,696 )
Gross margin 7,911 7,903 8,280
Selling expenses (4,267 ) (4,443 ) (4,693 )
General and administrative expenses (1,030 ) (912 ) (1,213 )
Research and development expenses (1,566 ) (1,544 ) (1,612 )
Impairment of goodwill (588 ) − −
Other business income 867 540 245
Other business expense (222 ) (125 ) (68 )
Income from operations 1,105 1,419 939
Financial income 341 402 552
Financial expenses (307 ) (289 ) (517 )
Income before taxes 1,139 1,532 974
Income tax expense (183 ) (481 ) (159 )
Income after taxes 956 1,051 815
Results relating to equity-accounted investees:
- Company’s participation in income (loss) 962 514 (188 )
- Other results 536 1,765 49
Income before minority interests 2,454 3,330 676
Minority interests (24 ) 2 (4 )
Income from continuing operations 2,430 3,332 672
Discontinued operations 353 42 3,992
Net income attributable to stockholders 2,783 3,374 4,664
Attribution of net income for the period
Net income attributable to stockholders 2,783 3,374 ) 4,664
Net income attributable to minority interests 24 (2 ) 4
Net income for the period 2,807 3,372 4,668
The years 2004 and 2005 are restated to present the Semiconductors division as a discontinued operation.
The accompanying notes are an integral part of these consolidated fi nancial statements.
33 4040
4141
4141
4242
4343
3838
4444
IFRS Consolidated statements of income of the Philips Group for the years ended December 31
in millions of euros unless otherwise stated
112 Group fi nancial statements 172 IFRS information
Consolidated statements of income
218 Company fi nancial statements