Philips 2014 Annual Report Download - page 112

Group nancial statements 12.7
112 Annual Report 2014
12.7 Consolidated statements of cash ows
Philips Group
Consolidated statements of cash ows in millions of EUR unless otherwise stated
For the years ended December 31
2012 2013 2014
Cash ows from operating activities
Net income (loss) (30) 1,172 411
Result of discontinued operations - net of income tax (136) (138) (190)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, amortization, and impairments of xed assets 1,242 1,177 1,187
Impairment of goodwill and other non-current nancial assets 14 38 21
Net gain on sale of assets (141) (54) (83)
Interest income (37) (54) (39)
Interest expense on debt, borrowings and other liabilities 283 258 231
Income taxes expense 218 466 26
Results from investments in associates 5 25 (62)
(Increase) decrease in working capital 586 (1,272) 590
Increase in receivables and other current assets (109) (500) (48)
(Increase) decrease in inventories 18 (165) (77)
(Decrease) increase in accounts payable, accrued and other current liabilities 677 (607) 715
Increase in non-current receivables, other assets and other liabilities (140) (159) (690)
(Decrease) increase in provisions 417 (194) 640
Other items 171 299 (242)
Interest paid (270) (267) (232)
Interest received 34 52 38
Dividends received from investments in associates 15 6 41
Dividends paid to non-controlling interests (4) (7) –
Income taxes paid (341) (436) (344)
Net cash provided by operating activities 1,886 912 1,303
Cash ows from investing activities
Net capital expenditures (241) (830) (806)
Purchase of intangible assets (33) (49) (114)
Proceeds from sale of intangible assets 160 – –
Expenditures on development assets (311) (326) (295)
Capital expenditures on property, plant and equipment (479) (482) (437)
Proceeds from sales of property, plant and equipment 422 27 40
23 Cash used for derivatives and current nancial assets (45) (101) (7)
24 Purchase of other non-current nancial assets (167) (13) (81)
24 Proceeds from other non-current nancial assets 3 14 107
Purchase of businesses, net of cash acquired (261) (11) (177)
Proceeds from sale of interests in businesses, net of cash disposed of (1) 79 (20)
Net cash used for investing activities (712) (862) (984)
Cash ows from nancing activities
Proceeds from issuance (payments) of short-term debt 133 (285) (37)
Principal payments of long-term debt (631) (186) (333)
Proceeds from issuance of long-term debt 1,228 64 69
Treasury shares transactions (768) (562) (596)
Dividends paid (255) (272) (292)
Net cash used for nancing activities (293) (1,241) (1,189)
Net cash (used for) provided by continuing operations 881 (1,191) (870)