Philips 2013 Annual Report Download - page 237
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16 Investor Relations 16.2 - 16.3
Annual Report 2013 237
Impact of share repurchases on share count
in thousands of shares
2009 2010 2011 2012 2013
Shares issued 972,412 986,079 1,008,975 957,133 937,846
Shares in treasury 44,955 39,573 82,880 42,542 24,508
Shares outstanding 927,457 946,506 926,095 914,591 913,338
Shares repurchased 2 15 47,508 46,871 27,811
Shares cancelled − − − 82,365 37,779
A total of 24,508,022 shares were held in treasury by
the Company at December 31, 2013 (2012: 42,541,687
shares). As of that date, a total of 44 million rights to
acquire shares (under long-term incentive plans) were
outstanding (2012: 52 million).
Period
total number of shares
purchased
average price paid per share
in EUR
total number of shares
purchased as part of
publicly announced
programs
maximum EUR amount of
shares that may yet be
purchased under the
programs
January, 2013 2,806,796 21.38 2,806,796 471,195,448
February, 2013 6,340,305 22.55 6,339,803 328,260,385
March, 2013 2,368,862 23.12 2,367,018 273,523,670
April, 2013 4,552,000 22.10 4,552,000 172,938,033
May, 2013 5,119,261 22.12 5,117,783 59,707,937
June, 2013 2,766,495 21.58 2,766,377 −
July, 2013 − − − −
August, 2013 35 21.05 − −
September, 2013 − − − −
October, 2013 766,047 25.85 766,040 1,480,195,100
November, 2013 1,434,010 26.10 1,434,010 1,442,763,231
December, 2013 1,657,545 25.70 1,657,545 1,400,158,416
16.3 Philips’ rating
Philips’ existing long-term debt is rated A3 (with stable
outlook)2) by Moody’s and A- (with stable outlook)1) by
Standard & Poor’s. It is Philips’ objective to manage its
financial ratios to be in line with an A3/A- rating. There is
no assurance that Philips will be able to achieve this
goal. Ratings are subject to change at any time.
Outstanding long-term bonds and credit facilities do
not have a repetitive material adverse change clause,
financial covenants or credit rating-related
acceleration possibilities.
Credit rating summary
long-term short-term outlook
Standard and Poor’s A- A-2 Stable1)
Moody’s A3 P-2 Stable2)
1) On July 24, 2013, Standard and Poor’s changed the outlook from negative
to stable
2) On February 6, 2014, Moody’s changed the outlook from negative to
stable