Philips 2013 Annual Report Download - page 130
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11 Group financial statements 11.4 - 11.4
130 Annual Report 2013
11.4 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
2011 2012 2013
Sales 20,992 23,457 23,329
Cost of sales (12,732) (14,466) (13,641)
Gross margin 8,260 8,991 9,688
Selling expenses (5,025) (5,334) (5,075)
General and administrative expenses (802) (845) (949)
Research and development expenses (1,605) (1,831) (1,733)
Impairment of goodwill
11 (1,355) − (28)
Other business income 124 275 123
Other business expenses (76) (608) (35)
Income from operations
3(479) 648 1,991
Financial income
4113 106 70
Financial expenses
4(444) (435) (400)
Income before taxes (810) 319 1,661
Income tax expense
5(251) (185) (466)
Income (loss) after taxes (1,061) 134 1,195
Results relating to investments in associates:
6
- Company’s participation in income 18 (5) 5
- Other results (3) (206) (30)
Income (loss) from continuing operations (1,046) (77) 1,170
Discontinued operations - net of income tax
7(410) 47 2
Net income (loss) (1,456) (30) 1,172
Attribution of net income (loss)
Net income (loss) attributable to shareholders (1,460) (35) 1,169
Net income (loss) attributable to non-controlling interests 4 5 3
Earnings per common share attributable to shareholders
2011 2012 2013
Basic earnings per common share in euros
Income (loss) from continuing operations attributable to shareholders
8(1.10) (0.09) 1.28
Net income (loss) attributable to shareholders
8(1.53) (0.04) 1.28
Diluted earnings per common share in euros1)
Income (loss) from continuing operations attributable to shareholders
8(1.10) (0.09) 1.27
Net income (loss) attributable to shareholders
8(1.53) (0.04) 1.27
Prior-period financial statements have been restated for the treatment of Audio, Video, Multimedia and Accessories as discontinued operations (see note 7, Discontinued
operations and other assets classified as held for sale) and the adoption of IAS 19R, which mainly relates to accounting for pensions (see note 30, Post-employment
benefits). The accompanying notes are an integral part of these consolidated financial statements.
1) The Dilutive potential common shares are not taken into account in the periods for which there is a loss, as the eect would be antidilutive