Philips 2009 Annual Report Download - page 155
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11.5 Consolidated statements of income
in millions of euros unless otherwise stated
Consolidated statements of income (including earnings per share) of the Philips Group for the years ended December 31
2007 2008 2009
Sales 26,793 26,385 23,189
Cost of sales (17,603) (17,938) (15,110)
Gross margin 9,190 8,447 8,079
Selling expenses (4,993) (5,518) (5,159)
General and administrative expenses (833) (972) (734)
Research and development expenses (1,601) (1,777) (1,631)
Impairment of goodwill − (301) −
Other business income 269 261 97
Other business expenses (165) (86) (38)
Income from operations
31,867 54 614
Financial income
43,194 1,594 225
Financial expenses
4(345) (1,506) (391)
Income before taxes 4,716 142 448
Income tax expense
5(582) (256) (100)
Income (loss) after taxes 4,134 (114) 348
Results relating to equity-accounted investees:
6
- Company’s participation in income 246 81 23
- Other results 638 (62) 53
Income (loss) from continuing operations 5,018 (95) 424
Discontinued operations - net of income tax
1(138) 3 −
Net income (loss) 4,880 (92) 424
Attribution of net income (loss)
Net income (loss) attributable to stockholders 4,873 (91) 410
Net income (loss) attributable to minority interests 7 (1) 14
The accompanying notes are an integral part of these consolidated financial statements.
11 Group financial statements 11.5 - 11.5
Philips Annual Report 2009 155