Philips 2013 Annual Report Download - page 3

Annual Report 2013 3
11 Group financial statements 128
11.1 Management’s report on internal control 128
11.2 Report of the independent auditor 128
11.3 Auditor’s report on internal control over financial
reporting
129
11.4 Consolidated statements of income 130
11.5 Consolidated statements of comprehensive income 131
11.6 Consolidated balance sheets 132
11.7 Consolidated statements of cash flows 134
11.8 Consolidated statements of changes in equity 136
11.9 Notes 137
1Significant accounting policies 137
2Information by sector and main country 145
3Income from operations 148
4Financial income and expenses 149
5Income taxes 150
6Interests in entities 153
7Discontinued operations and other assets
classified as held for sale
154
8Earnings per share 156
9Acquisitions and divestments 156
10 Property, plant and equipment 158
11 Goodwill 159
12 Intangible assets excluding goodwill 160
13 Non-current receivables 161
14 Other non-current financial assets 162
15 Other non-current assets 162
16 Inventories 162
17 Other current assets 162
18 Current receivables 162
19 Equity 163
20 Long-term debt and short-term debt 165
21 Provisions 166
22 Other non-current liabilities 168
23 Accrued liabilities 168
24 Other current liabilities 168
25 Contractual obligations 168
26 Contingent assets and liabilities 169
27 Cash from (used for) derivatives and current
financial assets
171
28 Purchase and proceeds from non-current
financial assets
171
29 Assets in lieu of cash from sale of businesses 171
30 Post-employment benefits 171
31 Share-based compensation 174
32 Related-party transactions 178
33 Information on remuneration 178
34 Fair value of financial assets and liabilities 182
35 Details of treasury / other financial risks 184
36 Subsequent events 187
11.10 Independent auditor’s report - Group 189
12 Company financial statements 190
12.1 Balance sheets before appropriation of results 191
12.2 Statements of income 192
12.3 Statement of changes in equity 192
12.4 Notes 193
AIntangible assets 193
BFinancial fixed assets 193
COther non-current financial assets 193
DReceivables 194
EShareholders’ equity 194
FLong-term debt and short-term debt 195
GOther current liabilities 195
HNet income 195
IEmployees 195
JContractual obligations and contingent
liabilities not appearing in the balance sheet
195
KAudit fees 195
LSubsequent events 195
12.5 Independent auditor’s report - Company 196
13 Sustainability statements 197
13.1 Economic indicators 201
13.2 Social statements 201
13.3 Environmental statements 208
13.4 Independent assurance report 212
13.5 Global Reporting Initiative (GRI) table 4.0 213
14 Reconciliation of non-GAAP information 225
15 Five-year overview 230
16 Investor Relations 233
16.1 Key financials and dividend policy 233
16.2 Share information 235
16.3 Philips’ rating 237
16.4 Performance in relation to market indices 238
16.5 Philips’ acquisitions 241
16.6 Financial calendar 242
16.7 Investor contact 242
17 Definitions and abbreviations 246
18 Forward-looking statements and other information 249