Consolidated balance sheets

Philips Group
Consolidated balance sheets in millions of EUR unless stated otherwise
As of December 31
 
2013
2014
Non-current assets
 
 
 
 
Property, plant and equipment:
 
 
 
 
  • At cost
7,692
 
6,844
 
  • Less accumulated depreciation
(4,912)
 
(4,749)
 
 
 
2,780
 
2,095
Goodwill
 
6,504
 
7,158
Intangible assets excluding goodwill:
 
 
 
 
  • At cost
7,638
 
8,020
 
  • Less accumulated amortization
(4,376)
 
(4,652)
 
 
 
3,262
 
3,368
Non-current receivables
 
144
 
177
Investments in associates
 
161
 
157
Other non-current financial assets
 
496
 
462
Deferred tax assets
 
1,675
 
2,460
Other non-current assets
 
63
 
69
Total non-current assets
 
15,085
 
15,946
 
 
 
 
 
Current assets
 
 
 
 
Inventories
 
3,240
 
3,314
Current financial assets
 
10
 
125
Other current assets
 
354
 
411
Derivative financial assets
 
150
 
207
Income tax receivable
 
70
 
140
Receivables:
 
 
 
 
  • Accounts receivable
4,420
 
4,476
 
  • Accounts receivable from related parties
39
 
14
 
  • Other current receivables
219
 
233
 
 
 
4,678
 
4,723
Assets classified as held for sale
 
507
 
1,613
Cash and cash equivalents
 
2,465
 
1,873
Total current assets
 
11,474
 
12,406
Total assets
 
26,559
 
28,352

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2013
2014
Equity
 
 
 
 
Shareholders’ equity:
 
 
 
 
Preference shares, par value EUR 0.20 per share:
 
 
 
 
  • Authorized: 2,000,000,000 shares (2013: 2,000,000,000 shares), issued none
 
 
 
 
Common shares, par value EUR 0.20 per share:
 
 
 
 
  • Authorized: 2,000,000,000 shares (2013: 2,000,000,000 shares)
 
 
 
 
  • Issued and fully paid: 934,819,413 shares (2013: 937,845,789 shares)
188
 
187
 
Capital in excess of par value
1,796
 
2,181
 
Retained earnings
10,415
 
8,790
 
Revaluation reserve
23
 
13
 
Currency translation differences
(569)
 
229
 
Available-for-sale financial assets
55
 
27
 
Cash flow hedges
24
 
(13)
 
Treasury shares, at cost 20,430,544 shares (2013: 24,508,022 shares)
(718)
 
(547)
 
 
 
11,214
 
10,867
Non-controlling interests
 
13
 
101
Group equity
 
11,227
 
10,968
 
 
 
 
 
Non-current liabilities
 
 
 
 
Long-term debt
 
3,309
 
3,712
Long-term provisions
 
1,903
 
2,500
Deferred tax liabilities
 
76
 
107
Other non-current liabilities
 
1,568
 
1,838
Total non-current liabilities
 
6,856
 
8,157
 
 
 
 
 
Current liabilities
 
 
 
 
Short-term debt
 
592
 
392
Derivative financial liabilities
 
368
 
857
Income tax payable
 
143
 
102
Accounts and notes payable:
 
 
 
 
  • Trade creditors
2,458
 
2,495
 
  • Accounts payable to related parties
4
 
4
 
 
 
2,462
 
2,499
Accrued liabilities
 
2,830
 
2,692
Short-term provisions
 
651
 
945
Liabilities directly associated with assets held for sale
 
348
 
349
Other current liabilities
 
1,082
 
1,391
Total current liabilities
 
8,476
 
9,227
Total liabilities and group equity
 
26,559
 
28,352
The accompanying notes are an integral part of these consolidated financial statements.
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CO2-equivalent or carbon dioxide equivalent is a quantity that describes, for a given mixture and amount of greenhouse gas, the amount of CO2 that would have the same global warming potential (GWP), when measured over a specified timescale (generally 100 years).