Consolidated balance sheets

in millions of euros unless otherwise stated

Consolidated balance sheets of the Philips Group as of December 31

Assets
 
 
2011
 
2012
 
 
 
 
 
Non-current assets
 
 
 
 
 
 
 
 
 
Property, plant and equipment:
 
 
 
 
- At cost
7,812
 
7,880
 
- Less accumulated depreciation
(4,798)
 
(4,921)
 
 
 
3,014
 
2,959
Goodwill
 
7,016
 
6,948
 
 
 
 
 
Intangible assets excluding goodwill:
 
 
 
 
- At cost
7,663
 
7,821
 
- Less accumulated amortization
(3,667)
 
(4,090)
 
 
 
3,996
 
3,731
Non-current receivables
 
127
 
176
 
 
 
 
 
Investments in associates
 
203
 
177
 
 
 
 
 
Other non-current financial assets
 
346
 
549
 
 
 
 
 
Deferred tax assets
 
1,729
 
1,917
 
 
 
 
 
Other non-current assets
 
71
 
94
 
 
 
 
 
Total non-current assets
 
16,502
 
16,551
 
 
 
 
 
 
 
 
 
 
Current assets
 
 
 
 
 
 
 
 
 
Inventories - net
 
3,625
 
3,495
 
 
 
 
 
Current financial assets
 
 
 
 
 
 
 
Other current assets
 
351
 
337
 
 
 
 
 
Derivative financial assets
 
229
 
137
 
 
 
 
 
Income tax receivable
 
162
 
97
 
 
 
 
 
Receivables:
 
 
 
 
- Accounts receivable - net
4,584
 
4,334
 
- Accounts receivable from related parties
19
 
13
 
- Other current receivables
225
 
238
 
 
 
4,828
 
4,585
 
 
 
 
 
Assets classified as held for sale
 
551
 
43
 
 
 
 
 
Cash and cash equivalents
 
3,147
 
3,834
 
 
 
 
 
Total current assets
 
12,893
 
12,528
 
 
 
 
 
 
 
29,395
 
29,079

Equity and liabilities
 
 
2011
 
2012
Equity
 
 
 
 
 
 
 
 
 
Shareholders’ equity:
 
 
 
 
Preference shares, par value EUR 0.20 per share:
 
 
 
 
- Authorized: 2,000,000,000 shares (2011: 2,000,000,000 shares), issued none
 
 
 
 
Common shares, par value EUR 0.20 per share:
 
 
 
 
- Authorized: 2,000,000,000 shares (2011: 2,000,000,000 shares)
 
 
 
 
- Issued and fully paid: 957,132,962 shares (2011: 1,008,975,445 shares)
202
 
191
 
Capital in excess of par value
813
 
1,304
 
Retained earnings
12,878
 
10,713
 
Revaluation reserve
70
 
54
 
Other reserves
43
 
(19)
 
Treasury shares, at cost 42,541,687 shares (2011: 82,880,543 shares)
(1,690)
 
(1,103)
 
 
 
12,316
 
11,140
 
 
 
 
 
Non-controlling interests
 
34
 
34
 
 
 
 
 
Group equity
 
12,350
 
11,174
 
 
 
 
 
Non-current liabilities
 
 
 
 
 
 
 
 
 
Long-term debt
 
3,278
 
3,725
Long-term provisions
 
1,907
 
2,132
Deferred tax liabilities
 
77
 
92
Other non-current liabilities
 
1,999
 
2,001
 
 
 
 
 
Total non-current liabilities
 
7,261
 
7,950
 
 
 
 
 
Current liabilities
 
 
 
 
 
 
 
 
 
Short-term debt
 
582
 
809
Derivative financial liabilities
 
744
 
517
Income tax payable
 
191
 
200
Accounts and notes payable:
 
 
 
 
- Trade creditors
3,340
 
2,835
 
- Accounts payable to related parties
6
 
4
 
 
 
3,346
 
2,839
Accrued liabilities
 
3,026
 
3,171
Short-term provisions
 
787
 
837
 
 
 
 
 
Liabilities directly associated with assets held for sale
 
61
 
27
 
 
 
 
 
Other current liabilities
 
1,047
 
1,555
 
 
 
 
 
Total current liabilities
 
9,784
 
9,955
 
 
 
 
 
Contractual obligations and contingent liabilities
 
 
 
 
 
 
 
 
 
 
 
29,395
 
29,079
Prior periods amounts have been revised to reflect immaterial adjustments (see Significant accounting policies). The accompanying notes are an integral part of these consolidated financial statements.
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This is an interactive electronic version of the Philips Annual Report 2012 and also contains certain information in summarized form. The contents of this version are qualified in their entirety by reference to the printed version of the full Philips Annual Report 2012. This printed version is available as a PDF file on this website. Information about: forward-looking statements, third-party market share data, fair value information, IFRS basis of presentation, use of non-GAAP information, statutory financial statements and management report, reclassifications and analysis of 2011 compared to 2010.
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