Philips 2012 Annual Report Download - page 3

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Annual Report 2012 3
12 Group financial statements 118
12.1 Management’s report on internal control 118
12.2 Reports of the independent auditor 118
12.3 Auditors’ report on internal control over financial
reporting
119
12.4 Consolidated statements of income 120
12.5 Consolidated statements of comprehensive income 121
12.6 Consolidated balance sheets 122
12.7 Consolidated statements of cash flows 124
12.8 Consolidated statements of changes in equity 126
12.9 Information by sector and main country 127
12.10 Significant accounting policies 130
12.11 Notes 139
1Income from operations 139
2Financial income and expenses 140
3Income taxes 141
4Investments in associates 144
5Discontinued operations and other assets
classified as held for sale
144
6Earnings per share 146
7Acquisitions and divestments 146
8Property, plant and equipment 148
9Goodwill 149
10 Intangible assets excluding goodwill 150
11 Non-current receivables 151
12 Other non-current financial assets 152
13 Other non-current assets 152
14 Inventories 152
15 Current financial assets 152
16 Other current assets 152
17 Current receivables 152
18 Equity 153
19 Long-term debt and short-term debt 155
20 Provisions 156
21 Other non-current liabilities 158
22 Accrued liabilities 158
23 Other current liabilities 158
24 Contractual obligations 158
25 Contingent liabilities 159
26 Cash from (used for) derivatives and securities 161
27 Proceeds from non-current financial assets 161
28 Assets in lieu of cash from sale of businesses 161
29 Pensions and other postretirement benefits 161
30 Share-based compensation 166
31 Related-party transactions 169
32 Information on remuneration 170
33 Fair value of financial assets and liabilities 173
34 Details of treasury risks 175
35 Subsequent events 178
12.12 Independent auditor’s report - Group 179
13 Company financial statements 180
13.1 Balance sheets before appropriation of results 181
13.2 Statements of income 182
13.3 Statement of changes in equity 182
13.4 Notes 183
AInvestments in affiliated companies 183
BOther non-current financial assets 183
CReceivables 183
DShareholders’ equity 184
ELong-term debt and short-term debt 185
FOther current liabilities 185
GNet income 185
HEmployees 185
IContingent liabilities 185
JAudit fees 185
KSubsequent events 185
13.5 Independent auditor’s report - Company 186
14 Sustainability statements 187
14.1 Economic indicators 190
14.2 EcoVision 191
14.3 Green Operations 191
14.4 General Business Principles 193
14.5 Supplier indicators 194
14.6 Independent assurance report 199
14.7 Global Reporting Initiative (GRI) table 200
15 Reconciliation of non-GAAP information 207
16 Five-year overview 212
17 Investor Relations 215
17.1 Key financials and dividend policy 215
17.2 Share information 217
17.3 Philips’ rating 219
17.4 Performance in relation to market indices 220
17.5 Philips’ acquisitions 223
17.6 Financial calendar 224
17.7 Investor contact 224
18 Definitions and abbreviations 227
19 Forward-looking statements and other
information
230