Philips 2012 Annual Report Download - page 147

12 Group financial statements 12.11 - 12.11
Annual Report 2012 147
2011
During 2011, Philips entered into six acquisitions. These acquisitions
involved an aggregated purchase price of EUR 498 million and have been
accounted for using the acquisition method. Measured on an annualized
basis, the aggregated impact of the six acquisitions on group Sales,
Income from operations (excluding charges related to goodwill
impairment), Net income and Net income per common share (on a
fully diluted basis) is not material in respect of IFRS 3 disclosure
requirements.
The divestments in 2011 involved an aggregated consideration of EUR
57 million and were therefore deemed immaterial in respect of IFRS 3
disclosure requirements.
2010
During 2010, Philips entered into 11 acquisitions. These acquisitions
involved an aggregated purchase price of EUR 235 million and have been
accounted for using the acquisition method. Measured on an annualized
basis, the aggregated impact of the 11 acquisitions on group Sales,
Income from operations, Net income and Net income per common
share (on a fully diluted basis) is not material in respect of IFRS 3
disclosure requirements.
On March 9, 2010, Philips divested 9.4% of the shares in TPV
Technology Ltd. (TPV). The TPV shares were sold to CEIEC Ltd., a
Hong Kong-based technology company, for a cash consideration of EUR
98 million. The transaction resulted in a gain of EUR 5 million, which
was reported under Results relating to Investments in Associates.
The remaining divestments in 2010 involved an aggregated
consideration of EUR 22 million and were therefore deemed immaterial
in respect of IFRS 3 disclosure requirements.