Philips 2015 Annual Report Download - page 143

18 Group nancial statements 12.9
Annual Report 2015 143
Philips Group
Composition of net debt to group equity in millions of EUR unless otherwise stated
2013 - 2015
2013 2014 2015
Long-term debt 3,309 3,712 4,095
Short-term debt 592 392 1,665
Total debt 3,901 4,104 5,760
Cash and cash equivalents 2,465 1,873 1,766
Net debt1) 1,436 2,231 3,994
Shareholders’ equity 11,214 10,867 11,662
Non-controlling interests 13 101 118
Group equity 11,227 10,968 11,780
Net debt and group equity 12,663 13,199 15,774
Net debt divided by net debt and group equity (in %) 11% 17% 25%
Group equity divided by net debt and group equity (in %) 89% 83% 75%
1) Total debt less cash and cash equivalents
Philips Group
Composition of cash ows in millions of EUR
2013 - 2015
2013 2014 2015
Cash ows from operating activities 912 1,303 1,167
Cash ows from investing activities (862) (984) (1,941)
Cash ows before nancing activities 50 319 (774)
In 2015, total debt increased by EUR 1,656 million. New
borrowings of EUR 1,335 million were mainly due to a
short-term bridge loan used for the Volcano acquisition
while repayments amounted to EUR 104 million. Other
changes resulting from consolidation and currency
eects led to an increase of EUR 425 million.
18 Debt
Long-term debt
Philips Group
Long-term debt in millions of EUR unless otherwise stated
2014 - 2015
(range of)
interest rates
average rate
of interest
amount
outstanding
in 2015
amount due
in 1 year
amount due
after 1 year
amount due
after 5 years
average
remaining
term (in
years)
amount
outstanding
in 2014
USD bonds 3.8 - 7.8% 5.6% 3,733 - 3,733 2,595 11.7 3,355
Bank borrowings 0.0-11.0% 1.7% 259 45 214 201 5.0 258
Other long-term
debt 0.8 - 7.0% 3.8% 42 39 3 1 1.3 52
Institutional
nancing 4,034 84 3,950 2,797 3,665
Finance leases 0 - 16.4% 3.2% 211 66 145 34 3.4 195
Long-term debt 5.2% 4,245 150 4,095 2,831 3,860
Corresponding
data of previous
year 5.2% 3,860 148 3,712 2,578 3,671