Philips 2014 Annual Report Download - page 108

Group nancial statements 12.3
108 Annual Report 2014
12.4 Consolidated statements of income
Philips Group
Consolidated statements of income in millions of EUR unless otherwise stated
For the years ended December 31
2012 2013 2014
Sales 22,234 21,990 21,391
Cost of sales (13,505) (12,653) (13,185)
Gross margin 8,729 9,337 8,206
Selling expenses (5,240) (5,057) (5,124)
Research and development expenses (1,724) (1,659) (1,635)
General and administrative expenses (847) (825) (747)
Impairment of goodwill – (28) (3)
Other business income 272 122 63
Other business expenses (598) (35) (274)
6Income from operations 592 1,855 486
7Financial income 106 70 114
7Financial expenses (435) (400) (415)
Income before taxes 263 1,525 185
8Income tax expense (218) (466) (26)
Income after taxes 45 1,059 159
5Results relating to investments in associates:
Company’s participation in income (5) 5 30
Other results (206) (30) 32
Income (loss) from continuing operations (166) 1,034 221
3Discontinued operations - net of income tax 136 138 190
Net income (loss) (30) 1,172 411
Attribution of net income (loss)
Net income (loss) attributable to Koninklijke Philips N.V. shareholders (35) 1,169 415
Net income (loss) attributable to non-controlling interests 5 3 (4)
Philips Group
Earnings per common share attributable to shareholders1) in EUR unless otherwise stated
For the years ended December 31
2012 2013 2014
Basic earnings per common share in EUR
9Income (loss) from continuing operations attributable to shareholders (0.19) 1.13 0.25
9Net income (loss) attributable to shareholders (0.04) 1.28 0.45
Diluted earnings per common share in EUR2)
9Income (loss) from continuing operations attributable to shareholders (0.19) 1.12 0.24
9Net income (loss) attributable to shareholders (0.04) 1.27 0.45
Prior-period nancial statements have been restated for the treatment of the combined businesses of Lumileds and Automotive as discontinued operations (see
note 3, Discontinued operations and other assets classied as held for sale) and for two voluntary accounting policy changes (see note 1, Signicant accounting
policies). The accompanying notes are an integral part of these consolidated nancial statements.
1) Shareholders in this table refer to shareholders of Koninklijke Philips N.V.
2) The Dilutive potential common shares are not taken into account in the periods for which there is a loss, as the eect would be antidilutive