Philips 2015 Annual Report Download - page 163

30 Group nancial statements 12.9
Annual Report 2015 163
30 Fair value of nancial assets and liabilities
The estimated fair value of nancial instruments has
been determined by the Company using available
market information and appropriate valuation
methods. The estimates presented are not necessarily
indicative of the amounts that will ultimately be
realized by the Company upon maturity or disposal.
The use of dierent market assumptions and/or
estimation methods may have a material eect on the
estimated fair value amounts.
For cash and cash equivalents, current receivables,
accounts payable, interest accrual and short-term
debts, the carrying amounts approximate fair value
because of the short maturity of these instruments, and
therefore fair value information is not included in the
table below.
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
Remuneration of the Supervisory Board in EUR
2013 - 2015
membership committees other compensation1) total
20152)
J.A. van der Veer 135,000 31,667 7,000 173,667
C. Poon 90,000 17,500 15,000 122,500
C.J.A. van Lede 80,000 14,333 7,000 101,333
E. Kist 80,000 10,000 2,000 92,000
H. von Prondzynski 80,000 26,833 19,500 126,333
J.P. Tai 80,000 29,167 35,000 144,167
N. Dhawan 80,000 13,000 20,000 113,000
O. Gadiesh 80,000 13,000 17,000 110,000
D.E.I. Pyott (May-Dec.) 80,000 8,667 12,000 100,667
785,000 164,167 134,500 1,083,667
20142)
J.A. van der Veer 110,000 20,500 2,000 132,500
J.J. Schiro (Jan.-Aug.) 65,000 12,334 2,000 79,334
C. Poon 65,000 14,000 17,000 96,000
C.J.A. van Lede 65,000 10,000 2,000 77,000
E. Kist 65,000 8,000 2,000 75,000
H. von Prondzynski 65,000 15,167 2,000 82,167
J.P. Tai 65,000 15,000 23,000 103,000
N. Dhawan 65,000 10,000 23,000 98,000
O. Gadiesh (May-Dec.) 65,000 6,667 2,000 73,667
630,000 111,668 75,000 816,668
20132)
J. van der Veer 110,000 20,500 5,000 135,500
J.J. Schiro 65,000 18,500 8,000 91,500
C.J.A. van Lede 65,000 10,000 5,000 80,000
E. Kist 65,000 8,000 5,000 78,000
H. von Prondzynski 65,000 10,000 5,000 80,000
C. Poon 65,000 14,000 11,000 90,000
J.P. Tai 65,000 15,000 20,000 100,000
N. Dhawan 65,000 10,000 17,000 92,000
565,000 106,000 76,000 747,000
1) The amounts mentioned under other compensation relate to the fee for intercontinental travel, inter-european travel (eective 2015) and the entitlement of EUR
2,000 under the Philips product arrangement
2) As of 2013, part of the remuneration of members of the Supervisory Board living in the Netherlands is subject to VAT. The amounts mentioned in this table are
excluding VAT