Philips 2010 Annual Report Download - page 231
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16 Reconciliation of non-GAAP information 16 - 16
Annual Report 2010 231
Composition of net debt to group equity
2008 2009 2010
Long-term debt 3,466 3,640 2,818
Short-term debt 722 627 1,840
Total debt 4,188 4,267 4,658
Cash and cash equivalents (3,620) (4,386) (5,833)
Net debt (cash)
(total debt less cash and cash equivalents) 568 (119) (1,175)
Shareholders’ equity 15,544 14,595 15,046
Non-controlling interests 49 49 46
Group equity 15,593 14,644 15,092
Net debt and group equity 16,161 14,525 13,917
Net debt divided by net debt and group equity (in %) 4 (1) (8)
Group equity divided by net debt and group equity (in %) 96 101 108
Composition of cash flows
2008 2009 2010
Cash flows from operating activities 1,648 1,545 2,156
Cash flows from investing activities (3,254) (219) (702)
Cash flows before financing activities (1,606) 1,326 1,454
Cash flows from operating activities 1,648 1,545 2,156
Purchase of intangible assets (121) (96) (80)
Expenditures on development assets (154) (188) (219)
Capital expenditures on property, plant and equipment (770) (524) (653)
Proceeds from disposals of property, plant and equipment 170 126 129
Net capital expenditures (875) (682) (823)
Free cash flows 773 863 1,333
EBITA to Income from operations or EBIT
Philips Group Healthcare Consumer
Lifestyle Lighting
Group
Management &
Services
2010
EBITA 2,552 1,186 639 869 (142)
Amortization of intangible assets1) (487) (264) (44) (174) (5)
Income from operations (or EBIT) 2,065 922 595 695 (147)
2009
EBITA 1,050 848 339 145 (282)
Amortization of intangible assets1) (436) (257) (18) (161) −
Income from operations (or EBIT) 614 591 321 (16) (282)
2008
EBITA 744 839 126 480 (701)
Amortization of intangible assets1) (389) (218) (16) (155) −
Impairment of goodwill (301) − − (301) −
Income from operations (or EBIT) 54 621 110 24 (701)
1) Excluding amortization of software and product development