Philips 2007 Annual Report Download - page 148

Philips Annual Report 2007154
The most signicant new projects in 2007
Within Lighting: Restructuring of the Oss plant in the Netherlands, •
from mass manufacturing to a competence center, and the closure
of uorescent lamp-based LCD backlighting activities.
Within Group Management & Services: Philips Electronics North •
America moving from New York to Andover.
The movements in the provisions and liabilities for restructuring costs
in 2007 are presented by sector as follows:
Dec. 31,
2006 additions utilized released
other
changes1)
Dec. 31,
2007
Medical
Systems 13 1 (14) − − −
DAP 6 1 (4) (1) − 2
CE 12 7 (11) − − 8
Lighting 45 24 (51) (4) − 14
I&EB − 1 − − − 1
GMS 16 4 − − (1) 19
92 38 (80) (5) (1) 44
1) Other changes primarily relate to translation differences
Additions to the provisions and liabilities, and the write-down of
assets in 2007 of EUR 42 million are presented by sector as follows:
personnel
costs
other
costs
write-
down of
assets total
Medical Systems 1 − − 1
DAP 1 − − 1
CE 6 1 − 7
Lighting 22 2 4 28
I&EB 1 − − 1
GMS 4 − − 4
35 3 4 42
The most signicant new projects in 2006
Within Lighting: the relocation of parts of the loss-making activities •
in Weert, Netherlands, to low-cost areas, the relocation in Mexico
of all Juarez plant activities to the Monterrey plant and the relocation
of the standard Lead in Wire business in the Netherlands (Deurne)
to Poland
Within Medical Systems: the transfer of the production of SPECT •
cameras from Milpitas to Cleveland
Within DAP: the restructuring of the Klagenfurt site in Austria, •
reduction of the xed cost base and providing a more diverse
and exible supply base.
The movements in the provisions and liabilities for restructuring costs
in 2006 are presented by sector as follows:
Dec. 31,
2005 additions utilized released
other
changes1)
Dec. 31,
2006
Medical
Systems − 14 (1) − − 13
DAP 3 13 (10) − − 6
CE 23 12 (19) (3) (1) 12
Lighting 6 43 (2) (2) − 45
I&EB /
GMS 30 − (11) − (3) 16
62 82 (43) (5) (4) 92
1) Other changes primarily relate to translation differences
Additions to the provision and liabilities, and the write-down of assets
in 2006 of EUR 87 million are presented by sector as follows:
personnel
costs
other
costs
write-
down of
assets total
Medical Systems 13 1 − 14
DAP 13 − − 13
CE 11 1 − 12
Lighting 41 2 5 48
I&EB / GMS − − − −
78 4 5 87
The most signicant new projects in 2005
New projects in 2005 included the closure of the Audio/Video
Innovation Centre and the restructuring of the Mobile Infotainment
business in CE. Furthermore, within Lighting, further rationalization
took place in Lamps through downsizing of excess capacity and
transfer of production to low-wage countries. Within Innovation &
Emerging businesses, a number of activities were prepared for their
disentanglement or divestment. The remaining restructuring projects
in 2005 covered a number of smaller projects, all relating to lay-offs.
The movements in the provisions and liabilities for restructuring costs
in 2005 are presented by sector as follows:
Dec. 31,
2004 additions utilized released
other
changes1)
Dec. 31,
2005
Medical
Systems 2 2 (3) (1) − −
DAP 1 4 (2) − − 3
CE 33 67 (76) (1) − 23
Lighting 12 35 (38) (3) − 6
I&EB /
GMS 59 16 (14) (3) (28) 30
107 124 (133) (8) (28) 62
1) Other changes primarily related to translation differences
Additions to the provision and liabilities, and the write-down of assets
in 2005 of EUR 134 million are presented by sector as follows:
personnel
costs other costs
write-
down of
assets total
Medical Systems 1 1 − 2
DAP 3 1 − 4
CE 54 13 − 67
Lighting 32 3 − 35
I&EB / GMS 16 − 10 26
106 18 10 134
128 Group nancial statements
Notes to the group nancial statements
188 IFRS information 240 Company nancial statements