Philips 2014 Annual Report Download - page 179

A B C D Company nancial statements 13.4
Annual Report 2014 179
13.4 Notes
Notes to the Company nancial statements
ANet income
Net income from affiliated companies represents the share
of the company in the results of these affiliated companies.
BAudit fees
For a summary of the audit fees, please refer to the
Group Financial statements, note 6, Income from
operations, which is deemed incorporated and
repeated herein by reference.
CIntangible assets
Intangible assets includes mainly licenses and patents.
The changes during 2014 are as follows;
Koninklijke Philips N.V.
Intangible assets in millions of EUR
2014
Balance as of January 1, 2014:
Cost 67
Amortization/ impairments (12)
Book value 55
Changes in book value:
Additions 20
Amortization (18)
Total changes 2
Balance as of December 31, 2014:
Cost 87
Amortization/ impairments (30)
Book value 57
DFinancial xed assets
The investments in group companies and associates are
presented as financial fixed assets in the balance sheet using
the equity method. Goodwill paid upon acquisition of
investments in group companies or associates is included in
the net equity value of the investment and is not shown
separately on the face of the balance sheet.
Loans provided to group companies are stated at
amortized cost, less impairment.
A list of investments in group companies, prepared in
accordance with the relevant legal requirements (Dutch Civil
Code, Book 2, Sections 379 and 414), is deposited at the
Chamber of Commerce in Eindhoven, The Netherlands.
Koninklijke Philips N.V.
Financial xed assets in millions of EUR
2014
investments
in group
companies
investments
in associates loans total
Balance as of
January 1, 2014 13,591 71 5,873 19,535
Changes:
Reclassications 35 (8) – 27
Acquisitions/
additions 2,379 6 749 3,134
Sales/
redemptions (1,107) – (348) (1,455)
Net income from
aliated
companies (485) 16 – (469)
Dividends
received (1,836) (19) – (1,855)
Translation
dierences 687 7 676 1,370
Transfer to assets
classied as held
for sale – (7) – (7)
Other (604) – – (604)
Balance as of
December 31,
2014 12,660 66 6,950 19,676
During 2014, the increase in acquisitions/additions line is
mainly related to the purchase of a group company
amounting to EUR 2,165 million. The same group company
made a capital repayment of EUR 562 million which is
reected as part of the movement in sales/redemptions
and issued an interim dividend of EUR 1,458 million shown
in the dividends received line. These transactions were
executed in view of our continued eort to restructure and
optimize our foreign based intra-group nance activities.
The remaining movements in sales/redemptions reect
restructuring in the group.
Included in other, under Investments in Group
companies, are remeasurements of EUR 683 million
related to dened-benet plans of group companies.