Philips 2015 Annual Report Download - page 3

Annual Report 2015 3
12 Group nancial statements 103
12.1 Management’s report on internal control 104
12.2 Report of the independent auditor 104
12.3 Independent auditors’ report on internal control
over nancial reporting
105
12.4 Consolidated statements of income 106
12.5 Consolidated statements of comprehensive
income
107
12.6 Consolidated balance sheets 108
12.7 Consolidated statements of cash ows 110
12.8 Consolidated statements of changes in equity 111
12.9 Notes 112
General, sector and main countries information
1Signicant accounting policies 112
2Information by sector and main country 123
3Discontinued operations and other assets
classied as held for sale
125
4Acquisitions and divestments 126
5Interests in entities 127
Notes related to the income statement
6Income from operations 128
7Financial income and expenses 130
8Income taxes 131
9Earnings per share 134
Notes related to the balance sheet
10 Property, plant and equipment 135
11 Goodwill 136
12 Intangible assets excluding goodwill 138
13 Other nancial assets 139
14 Other assets 140
15 Inventories 140
16 Receivables 140
17 Equity 140
18 Debt 143
19 Provisions 144
20 Post-employment benets 147
21 Accrued liabilities 152
22 Other liabilities 152
Notes related to the cash ow statement
23 Cash used for derivatives and current nancial
assets
153
24 Purchase and proceeds from non-current
nancial assets
153
Other notes
25 Contractual obligations 153
26 Contingent assets and liabilities 154
27 Related-party transactions 157
28 Share-based compensation 157
29 Information on remuneration 160
30 Fair value of nancial assets and liabilities 163
31 Details of treasury / other nancial risks 166
32 Subsequent events 170
13 Company nancial statements 171
13.1 Balance sheets before appropriation of results 172
13.2 Statements of income 173
13.3 Statement of changes in equity 173
13.4 Notes 174
ANet income 174
BAudit fees 174
CIntangible assets 174
DFinancial xed assets 174
EOther nancial assets 175
FReceivables 175
GShareholders’ equity 175
HDebt 177
IOther current liabilities 177
JEmployees 177
KContractual obligations and contingent
liabilities not appearing in the balance sheet
177
LSubsequent events 177
13.5 Independent auditor’s report 178
14 Sustainability statements 183
14.1 Economic indicators 189
14.2 Social statements 189
14.3 Environmental statements 201
14.4 Independent Auditor’s Assurance Report 207
14.5 Global Reporting Initiative (GRI) table 4.0 208
15 Reconciliation of non-GAAP information 219
16 Five-year overview 223
17 Investor Relations 226
17.1 Key nancials and dividend 226
17.2 Share information 228
17.3 Philips’ rating 230
17.4 Performance in relation to market indices 230
17.5 Financial calendar 233
17.6 Investor contact 233
18 Denitions and abbreviations 235
19 Forward-looking statements and other
information
237