Philips 2007 Annual Report Download - page 155

Philips Annual Report 2007 161
Other non-current nancial assets
The changes during 2007 are as follows:
Changes:
Reclassications − − −
−
− −
exchange
−
Major holdings in available-for-sale securities at December 31:
companies agreed to a multi-phased plan to facilitate an orderly exit
sale transaction to long-term nancial investors in Taiwan, the offering
expense. As of December 31, 2007, Philips owns 4.96% of TSMC ‘s
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On May 17, 2007, Philips sold its remaining stake of approximately
stake of approximately 2.5% (4,587,333 common shares) in US-based
recognized under Financial income and expenses.
Included in other non-current nancial assets is a convertible bond
more than one year, and the non-current portion of income taxes
receivable amounting to EUR 14 million (2006: EUR 25 million).
costs of EUR 2,703 million (2006: EUR 2,262 million), deferred tax
assets of EUR 971 million (2006: EUR 1,138 million) and prepaid
expenses of EUR 52 million (2006: EUR 47 million).
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14
15
Property, plant and equipment
land and
buildings
machinery and
installations lease assets
other
equipment
prepayments
and
construction in
progress
no longer
productively
employed total
Balance as of January 1, 2007:
Cost 2,182 3,303 74 1,552 393 20 7,524
Accumulated depreciation (911) (2,224) (50) (1,242) − (13) (4,440)
Book value 1,271 1,079 24 310 393 7 3,084
Changes in book value:
Capital expenditures 113 283 30 235 − − 661
Retirements and sales (6) (24) (1) (6) (42) (3) (82)
Depreciation (76) (235) (12) (189) − − (512)
Write-downs and impairments (7) (15) − − − − (22)
Translation differences (15) (8) (3) (14) (5) − (45)
Changes in consolidation 88 (6) 2 15 (3) − 96
Total changes 97 (5) 16 41 (50) (3) 96
Balance as of December 31, 2007:
Cost 2,303 3,395 88 1,732 343 13 7,874
Accumulated depreciation (935) (2,321) (48) (1,381) − (9) (4,694)
Book value 1,368 1,074 40 351 343 4 3,180
Land with a book value of EUR 148 million, as at December 31, 2007
(2006: EUR 141 million) is not depreciated.
The expected useful lives as of December 31, 2007, were as follows:
Buildings from 14 to 50 years
Machinery and installations from 4 to 15 years
Lease assets from 3 to 10 years
Other equipment from 3 to 10 years
Capital expenditures include capitalized interest related to construction
in progress amounting to EUR 5 million in 2007 (2006: EUR 9 million).
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Group nancial statements
Notes to the group nancial statements
Company nancial statements 250 Corporate governance246 Reconciliation of
non-US GAAP information 258 The Philips Group in the last ten years 260
Investor information