Philips 2014 Annual Report Download - page 3

Annual Report 2014 3
12 Group nancial statements 105
12.1 Management’s report on internal control 106
12.2 Report of the independent auditor 106
12.3 Independent auditors’ report on internal control
over nancial reporting
107
12.4 Consolidated statements of income 108
12.5 Consolidated statements of comprehensive
income
109
12.6 Consolidated balance sheets 110
12.7 Consolidated statements of cash ows 112
12.8 Consolidated statements of changes in equity 114
12.9 Notes 115
General, sector and main countries information
1Signicant accounting policies 115
2Information by sector and main country 126
3Discontinued operations and other assets
classied as held for sale
129
4Acquisitions and divestments 130
5Interests in entities 131
Notes related to the income statement
6Income from operations 132
7Financial income and expenses 134
8Income taxes 135
9Earnings per share 139
Notes related to the balance sheet
10 Property, plant and equipment 140
11 Goodwill 141
12 Intangible assets excluding goodwill 143
13 Other nancial assets 144
14 Other assets 145
15 Inventories 145
16 Receivables 145
17 Equity 146
18 Debt 149
19 Provisions 149
20 Post-employment benets 152
21 Accrued liabilities 157
22 Other liabilities 158
Notes related to the cash ow statement
23 Cash used for derivatives and current nancial
assets
158
24 Purchase and proceeds from non-current
nancial assets
158
Other notes
25 Contractual obligations 158
26 Contingent assets and liabilities 159
27 Related-party transactions 162
28 Share-based compensation 162
29 Information on remuneration 165
30 Fair value of nancial assets and liabilities 168
31 Details of treasury / other nancial risks 171
32 Subsequent events 175
13 Company nancial statements 176
13.1 Balance sheets before appropriation of results 177
13.2 Statements of income 178
13.3 Statement of changes in equity 178
13.4 Notes 179
ANet income 179
BAudit fees 179
CIntangible assets 179
DFinancial xed assets 179
EOther nancial assets 180
FReceivables 180
GShareholders’ equity 180
HDebt 182
IOther current liabilities 182
JEmployees 182
KContractual obligations and contingent
liabilities not appearing in the balance sheet
182
LSubsequent events 182
13.5 Independent auditor’s report 183
14 Sustainability statements 187
14.1 Economic indicators 192
14.2 Social statements 192
14.3 Environmental statements 207
14.4 Independent Auditor’s Assurance Report 213
14.5 Global Reporting Initiative (GRI) table 4.0 214
15 Reconciliation of non-GAAP information 225
16 Five-year overview 229
17 Investor Relations 232
17.1 Key nancials and dividend policy 232
17.2 Share information 234
17.3 Philips’ rating 236
17.4 Performance in relation to market indices 236
17.5 Financial calendar 239
17.6 Investor contact 239
18 Denitions and abbreviations 241
19 Forward-looking statements and other
information
243