Consolidated statements of income

in millions of euros unless otherwise stated
Consolidated statements of income of the Philips Group for the years ended December 31
 
2009
2010
2011
 
 
 
 
Sales
20,092
22,287
22,579
Cost of sales
(12,519)
(13,191)
(13,932)
 
 
 
 
Gross margin
7,573
9,096
8,647
 
 
 
 
Selling expenses
(4,703)
(4,876)
(5,160)
General and administrative expenses
(721)
(713)
(841)
Research and development expenses
(1,542)
(1,493)
(1,610)
Impairment of goodwill
(1,355)
Other business income
95
93
125
Other business expenses
(42)
(27)
(75)
 
 
 
 
Income from operations
660
2,080
(269)
 
 
 
 
Financial income
225
214
112
Financial expenses
(387)
(335)
(352)
 
 
 
 
Income before taxes
498
1,959
(509)
 
 
 
 
Income tax expense
(99)
(499)
(283)
 
 
 
 
Income (loss) after taxes
399
1,460
(792)
 
 
 
 
Results relating to investments in associates:
 
 
 
- Company’s participation in income
23
14
18
- Other results
54
4
(2)
 
 
 
 
Income (loss) from continuing operations
476
1,478
(776)
 
 
 
 
Discontinued operations - net of income tax
(52)
(26)
(515)
 
 
 
 
Net income (loss)
424
1,452
(1,291)
 
 
 
 
Attribution of net income (loss)
 
 
 
Net income (loss) attributable to shareholders
410
1,446
(1,295)
Net income (loss) attributable to non-controlling interests
14
6
4

Earnings per common share attributable to shareholders
 
2009
2010
2011
 
 
 
 
Basic earnings per common share in euros
 
 
 
Income (loss) from continuing operations attributable to shareholders
0.50
1.57
(0.82)
Net income (loss) attributable to shareholders
0.44
1.54
(1.36)
 
 
 
 
Diluted earnings per common share in euros
 
 
 
Income (loss) from continuing operations attributable to shareholders
0.50
1.55
(0.82)
Net income (loss) attributable to shareholders
0.44
1.52
(1.36)
The years 2009 and 2010 are restated to present the Television business as discontinued operations.
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 2011 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 2011. 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 2010 compared to 2009.
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