Philips 2014 Annual Report Download - page 169
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Group nancial statements 12.9
Annual Report 2014 169
The fair value of Philips’ debt is estimated on the basis
of the quoted market prices for certain issues, or on the
basis of discounted cash ow analysis based upon
market rates plus Philips’ spread for the particular
tenors of the borrowing arrangement. Accrued interest
is not included within the carrying amount or estimated
fair value of debt.
Philips Group
Fair value of nancial assets and liabilities in millions of EUR
2014
Balance as of December 31, 2013 Balance as of December 31, 2014
carrying amount estimated fair value carrying amount estimated fair value
Financial assets
Carried at fair value:
Available-for-sale nancial assets - non-current 96 96 115 115
Available-for-sale nancial assets - current 10 10 – –
Securities classied as assets held for sale 62 62 38 38
Fair value through prot and loss - non-current 29 29 24 24
Derivative nancial instruments 150 150 207 207
Financial assets carried at fair value 347 384
Carried at (amortized) cost:
Cash and cash equivalents 2,465 1,873
Loans and receivables:
Loans - current 125 125
Non-current loans and receivables 143 143 86 86
Other non-current loans and receivables 129 140
Loans classied as assets held for sale 30 –
Receivables - current 4,678 4,723
Receivables - non-current 144 144 177 177
Held-to-maturity investments 3 2
Available-for-sale nancial assets 96 95
Financial assets carried at (amortized) costs 7,688 7,221
Financial liabilities
Carried at fair value:
Fair value through prot and loss - non-current (13) (13) – –
Derivative nancial instruments (368) (368) (857) (857)
Financial liabilities carried at fair value (381) (857)
Carried at (amortized) cost:
Accounts payable (2,462) (2,499)
Interest accrual (57) (56)
Debt (Corporate bond and nance lease) (3,157) (3,545) (3,551) (4,164)
Debt (Bank loans, overdrafts etc.) (744) (553)
Financial liabilities carried at (amortized) costs (6,420) (6,659)