Philips 2011 Annual Report Download - page 119
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12 Group financial statements 12.4 - 12.4
Annual Report 2011 119
12.4 Consolidated statements of income
in millions of euros unless otherwise stated
Consolidated statements of income of the Philips Group for the years ended December 31
2009 2010 2011
Sales 20,092 22,287 22,579
Cost of sales (12,519) (13,191) (13,932)
Gross margin 7,573 9,096 8,647
Selling expenses (4,703) (4,876) (5,160)
General and administrative expenses (721) (713) (841)
Research and development expenses (1,542) (1,493) (1,610)
Impairment of goodwill − − (1,355)
Other business income 95 93 125
Other business expenses (42) (27) (75)
Income from operations
1660 2,080 (269)
Financial income
2225 214 112
Financial expenses
2(387) (335) (352)
Income before taxes 498 1,959 (509)
Income tax expense
3(99) (499) (283)
Income (loss) after taxes 399 1,460 (792)
Results relating to investments in associates:
4
- Company’s participation in income 23 14 18
- Other results 54 4 (2)
Income (loss) from continuing operations 476 1,478 (776)
Discontinued operations - net of income tax
5(52) (26) (515)
Net income (loss) 424 1,452 (1,291)
Attribution of net income (loss)
Net income (loss) attributable to shareholders 410 1,446 (1,295)
Net income (loss) attributable to non-controlling interests 14 6 4
Earnings per common share attributable to shareholders
2009 2010 2011
Basic earnings per common share in euros
Income (loss) from continuing operations attributable to shareholders
60.50 1.57 (0.82)
Net income (loss) attributable to shareholders
60.44 1.54 (1.36)
Diluted earnings per common share in euros
Income (loss) from continuing operations attributable to shareholders
60.50 1.55 (0.82)
Net income (loss) attributable to shareholders
60.44 1.52 (1.36)
The years 2009 and 2010 are restated to present the Television business as discontinued operations.
The accompanying notes are an integral part of these consolidated financial statements.