Financial income and expenses

A breakdown of Financial income and expenses is presented in the table below.

Philips Group
Financial income and expenses in millions of EUR
2012 - 2014
 
2012
2013
2014
Interest expense (net)
(326)
(269)
(251)
Sale of securities
1
60
Impairments
(8)
(10)
(17)
Other
4
(51)
(93)
Financial income and expenses
(329)
(330)
(301)

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Net interest expense in 2014 was EUR 18 million lower than in 2013, mainly as a result of lower average outstanding debt and interest related to pensions in 2014.

The gain from the sale of stakes in 2014 amounted to EUR 60 million, mainly from Neusoft, Chimei Innolux, Gilde III and Sapiens.

Other financial expense amounted to EUR 93 million in 2014, primarily consisting of interest expense related to the jury verdict in the Masimo litigation, and accretion expense associated with other discounted provisions and uncertain tax positions.

For further information, refer to note (7) Financial income and expenses.

(0)
(0)