Philips 2012 Annual Report Download - page 83
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6 Sector performance 6.4.2 - 6.4.2
Annual Report 2012 83
EBITA at Pensions was EUR 71 million higher than in 2011,
mainly due to the effect of lower interest rates. In 2011,
EBITA was positively impacted by a EUR 21 million gain
due to a plan change in one of our major plans, while 2012
was positively impacted by a EUR 25 million gain from a
change in a medical retiree plan.
EBITA at Service Units and Other decreased from a loss
of EUR 169 million in 2011 to a loss of EUR 494 million.
The decrease was largely attributable to the CRT fine of
EUR 313 million and provisions related to various legal
matters totaling EUR 132 million, partly offset by a gain
on the sale of High Tech Campus of EUR 37 million and
lower stranded costs from the divestment of our
Television business.
Net operating capital decreased to negative EUR 4,521
billion, primarily related to an increase in payables and
provisions due to legal and environmental matters.
Cash flows before financing activities improved from an
outflow of EUR 1,295 million in 2011 to an outflow of
EUR 1,044 million, mainly attributable to higher cash
inflows from the sale of fixed assets.