Philips 2008 Annual Report Download - page 126
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Consolidated statements of income of the Philips Group for the years ended December 31
in millions of euros unless otherwise stated
2006 2007 2008
Sales 26,682 26,793 26,385
Cost of sales (18,435) (17,570) (17,890)
Gross margin 8,247 9,223 8,495
Selling expenses (4,655) (4,980) (5,501)
General and administrative expenses (969) (919) (1,016)
Research and development expenses (1,659) (1,629) (1,622)
Impairment of goodwill −−(234)
Other business income and expenses 234 146 195
Income from operations 1,198 1,841 317
Financial income and expenses 28 2,613 (225)
Income before taxes 1,226 4,454 92
Income tax expense (166) (619) (286)
Income (loss) after taxes 1,060 3,835 (194)
Results relating to equity-accounted investees (157) 763 19
Minority interests (4) (5) (3)
Income (loss) from continuing operations 899 4,593 (178)
Discontinued operations 4,482 (433) (8)
Net income (loss) 5,381 4,160 (186)
Prior-period amounts have been revised to reflect immaterial adjustments of intercompany profit elimination on inventory (see Significant accounting policies,
Reclassifications and revisions). The accompanying notes are an integral part of these consolidated financial statements.
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Philips Annual Report 2008126
180
Sustainability performance
192
IFRS financial statements
244
Company financial statements
124
US GAAP financial statements
Consolidated statements of income