Philips 2010 Annual Report Download - page 143
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13 Group financial statements 13.4 - 13.4
Annual Report 2010 143
13.4 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
2008 2009 2010
Sales 26,385 23,189 25,419
Cost of sales (17,938) (15,110) (15,873)
Gross margin 8,447 8,079 9,546
Selling expenses (5,518) (5,159) (5,246)
General and administrative expenses (972) (734) (735)
Research and development expenses (1,777) (1,631) (1,576)
Impairment of goodwill (301) − −
Other business income 261 97 100
Other business expenses (86) (38) (24)
Income from operations
154 614 2,065
Financial income
21,594 225 214
Financial expenses
2(1,506) (391) (336)
Income before taxes 142 448 1,943
Income tax expense
3(256) (100) (509)
Income (loss) after taxes (114) 348 1,434
Results relating to investments in associates:
4
- Company’s participation in income 81 23 14
- Other results (62) 53 4
Income (loss) from continuing operations (95) 424 1,452
Discontinued operations - net of income tax
53 − −
Net income (loss) (92) 424 1,452
Attribution of net income (loss)
Net income (loss) attributable to shareholders (91) 410 1,446
Net income (loss) attributable to non-controlling interests (1) 14 6
The accompanying notes are an integral part of these consolidated financial statements