Philips 2010 Annual Report Download - page 3

Download and view the complete annual report

Please find page 3 of the 2010 Philips annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 250

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200
  • 201
  • 202
  • 203
  • 204
  • 205
  • 206
  • 207
  • 208
  • 209
  • 210
  • 211
  • 212
  • 213
  • 214
  • 215
  • 216
  • 217
  • 218
  • 219
  • 220
  • 221
  • 222
  • 223
  • 224
  • 225
  • 226
  • 227
  • 228
  • 229
  • 230
  • 231
  • 232
  • 233
  • 234
  • 235
  • 236
  • 237
  • 238
  • 239
  • 240
  • 241
  • 242
  • 243
  • 244
  • 245
  • 246
  • 247
  • 248
  • 249
  • 250

Annual Report 2010 3
13 Group financial statements 141
13.1 Management’s report on internal control 141
13.2 Reports of the independent auditor 142
13.3 Auditors’ report on internal control over financial
reporting
142
13.4 Consolidated statements of income 143
13.5 Consolidated statements of comprehensive income 145
13.6 Consolidated balance sheets 146
13.7 Consolidated statements of cash flows 148
13.8 Consolidated statements of changes in equity 150
13.9 Information by sector and main country 151
13.10 Significant accounting policies 154
13.11 Notes 161
1Income from operations 161
2Financial income and expenses 162
3Income taxes 162
4Investments in associates 166
5Discontinued operations 167
6Acquisitions and divestments 167
7Property, plant and equipment 171
8Goodwill 172
9Intangible assets excluding goodwill 173
10 Non-current receivables 174
11 Other non-current financial assets 174
12 Other non-current assets 175
13 Inventories 175
14 Current financial assets 175
15 Other current assets 175
16 Current receivables 175
17 Shareholders’ equity 176
18 Long-term debt and short-term debt 177
19 Provisions 178
20 Other non-current liabilities 179
21 Accrued liabilities 179
22 Other current liabilities 179
23 Contractual obligations 180
24 Contingent liabilities 180
25 Cash from (used for) derivatives and securities 182
26 Proceeds from non-current financial assets 182
27 Assets in lieu of cash from sale of businesses 182
28 Pensions and other postretirement benefits 182
29 Share-based compensation 187
30 Related-party transactions 189
31 Information on remuneration 189
32 Fair value of financial assets and liabilities 195
33 Details of treasury risks 196
34 Subsequent events 198
13.12 Independent auditor’s report - Group 199
14 Company financial statements 200
14.1 Balance sheets before appropriation of results 201
14.2 Statements of income 202
14.3 Statements of changes in equity 202
14.4 Notes 203
AInvestments in affiliated companies 203
BOther non-current financial assets 203
CReceivables 203
DShareholders’ equity 203
ELong-term debt and short-term debt 205
FOther current liabilities 205
GNet income 205
HEmployees 205
IContingent liabilities 205
JAudit fees 205
KSubsequent events 205
14.5 Independent auditor’s report - Company 206
15 Sustainability statements 207
15.1 Economic indicators 210
15.2 EcoVision5 210
15.3 EcoVision4 211
15.4 Green Manufacturing 2015 212
15.5 Social indicators 215
15.6 Supplier indicators 217
15.7 Independent assurance report 221
15.8 Global Reporting Initiative (GRI) table 222
16 Reconciliation of non-GAAP information 229
17 Five-year overview 233
18 Investor Relations 236
18.1 The Philips investment proposition 236
18.2 The year 2010 237
18.3 Share information 239
18.4 Risk management 241
18.5 Performance in relation to market indices 242
18.6 Philips’ acquisitions 243
18.7 Financial calendar 244
18.8 Investor contact 244
19 Definitions and abbreviations 246
20 Forward-looking statements and other
information 248