XML 226 R181.htm IDEA: XBRL DOCUMENT v3.10.0.1
Details of treasury / other financial risks - Text Details (Detail)
€ in Thousands, $ in Millions
12 Months Ended 24 Months Ended
Dec. 31, 2018
EUR (€)
Dec. 31, 2018
EUR (€)
Dec. 31, 2017
EUR (€)
Dec. 31, 2016
EUR (€)
Dec. 31, 2018
EUR (€)
Dec. 31, 2018
USD ($)
Jan. 01, 2018
EUR (€)
Dec. 31, 2017
USD ($)
Dec. 31, 2015
EUR (€)
Details of treasury / other financial risks - Text Details (Detail) [Line Items]                  
Cash and cash equivalents [1] € 1,688,000 € 1,688,000 € 1,939,000 € 2,334,000 € 1,688,000       € 1,766,000
Short-term deposits, classified as cash equivalents 1,174,000 1,174,000 1,302,000   1,174,000        
Other non-current financial assets 360,000 360,000 587,000 [2]   360,000        
Investments in equity instruments designated at fair value through other comprehensive income [3] 435,000 435,000     435,000        
Contractual capital commitments 86,000 86,000 83,000   86,000        
Accounts payable known to have been sold onwards under supplier finance arrangements 275,000 275,000     275,000        
Operating lease payments for sale-and-leaseback arrangements 31,000 € 31,000 31,000   31,000        
Hedge tenor of net anticipated exposure   15 months              
Net anticipated exposures hedge layer size   20.00%              
Net anticipated exposures hedge maximum   80.00%              
Equity 12,117,000 € 12,117,000 12,023,000 13,453,000 12,117,000       11,725,000
Gain (loss) on hedge ineffectiveness recognised in profit or loss   200 1,400            
Net fair value of transactional hedges (7,000) € (7,000) € (21,000)   € (7,000)        
Increase in the value of the EUR against all currencies   10.00% 10.00%   10.00%        
Change in the value of transactional hedges following a 10% increase in the value of a currency against EUR   € 113,000 € 102,000            
Impact on income statement following a change in the value of transactional hedges due to 10% increase in the value of the EUR against all currencies 14,000                
Impact on equity following a change in the value of transactional hedges due to 10% increase in the value of the EUR against all currencies   99,000              
Other comprehensive income, before tax, exchange differences on translation   383,000 (1,177,000) 219,000          
Cross-currency interest rate swaps nominal value | $           $ 1,100      
Fair value liability of cross-currency interest rate swaps designated as net investment hedges 246,000 246,000 330,000   € 246,000        
External bond funding for a nominal value designated as net investment hedges | $           $ 1,473   $ 2,535  
External bond funding book value designated as net investment hedges (1,290,000) (1,290,000)     (1,290,000)        
Net fair value of financing derivatives 246,000 246,000 326,000   246,000        
Change in the value of derivatives following a 10% increase in the value of the EUR against all currencies   63,000 213,000            
Borrowings 4,821,000 4,821,000 4,715,000 5,606,000 4,821,000        
Non-current portion of non-current borrowings 3,427,000 3,427,000 4,044,000 4,021,000 3,427,000        
Short-term debt [4],[5] 164,000 164,000     164,000        
Financial assets, at fair value 817,000 817,000     817,000        
Threshold of cash and short term deposits with A- credit rating   10,000              
Captive retained per claim for general, product and professional liability claims   5,000              
Captive retained per claim for general, product and professional liability claims, aggregate   10,000              
Interest rate risk [member]                  
Details of treasury / other financial risks - Text Details (Detail) [Line Items]                  
Cash and cash equivalents 1,688,000 1,688,000 1,939,000   1,688,000        
Borrowings (4,821,000) (4,821,000) (4,715,000)   (4,821,000)        
Non-current portion of non-current borrowings (3,427,000) (3,427,000) (4,044,000)   (3,427,000)        
Short-term debt € (1,394,000) € (1,394,000) € (672,000)   € (1,394,000)        
Ratio of fixed-rate long-term debt to total outstanding debt 67.00% 67.00% 72.00%   67.00% 67.00%   72.00%  
Instantaneous decrease in long-term interest rates 1.00% 1.00% 1.00%   1.00% 1.00%   1.00%  
Increase in the value of the fixed rate long term debt excluding forward contracts driven by 1% interest decrease € (275,000) € (275,000) € (271,000)   € (275,000)        
Instantaneous increase in long-term interest rates 1.00% 1.00% 1.00%   1.00% 1.00%   1.00%  
Decrease in the value of the fixed rate long term debt excluding forward contracts driven by 1% interest increase € 276,000 € 276,000 € 271,000   € 276,000        
Annualized net interest expense driven by 1% interest increase   9,000 12,000            
Bottom of range [member]                  
Details of treasury / other financial risks - Text Details (Detail) [Line Items]                  
Policy deductibles per occurrence   250              
Top of range [member]                  
Details of treasury / other financial risks - Text Details (Detail) [Line Items]                  
Policy deductibles per occurrence   5,000              
China [Member]                  
Details of treasury / other financial risks - Text Details (Detail) [Line Items]                  
Country risk exposure 1,900,000 1,900,000     1,900,000        
Germany [Member]                  
Details of treasury / other financial risks - Text Details (Detail) [Line Items]                  
Country risk exposure 551,000 551,000     551,000        
United Kingdom of Great Britain and Northern Ireland [Member]                  
Details of treasury / other financial risks - Text Details (Detail) [Line Items]                  
Country risk exposure 643,000 643,000     643,000        
India [Member] | Bottom of range [member]                  
Details of treasury / other financial risks - Text Details (Detail) [Line Items]                  
Country risk exposure 300,000 300,000     300,000        
India [Member] | Top of range [member]                  
Details of treasury / other financial risks - Text Details (Detail) [Line Items]                  
Country risk exposure 500,000 500,000     500,000        
Japan [Member]                  
Details of treasury / other financial risks - Text Details (Detail) [Line Items]                  
Country risk exposure 714,000 714,000     714,000        
Netherlands [Member]                  
Details of treasury / other financial risks - Text Details (Detail) [Line Items]                  
Country risk exposure 1,900,000 1,900,000     1,900,000        
Other countries [Member]                  
Details of treasury / other financial risks - Text Details (Detail) [Line Items]                  
Country risk exposure 500,000 500,000     500,000        
United States of America [Member]                  
Details of treasury / other financial risks - Text Details (Detail) [Line Items]                  
Country risk exposure 10,900,000 10,900,000     10,900,000        
Swiss Franc [Member]                  
Details of treasury / other financial risks - Text Details (Detail) [Line Items]                  
Change in the value of transactional hedges following a 10% increase in the value of a currency against EUR   5,000              
Change in the value of transactional hedges following a 10% increase in the value of the EUR against all currencies     5,000            
Pound Sterling [Member]                  
Details of treasury / other financial risks - Text Details (Detail) [Line Items]                  
Change in the value of transactional hedges following a 10% increase in the value of a currency against EUR   7,000 10,000            
Yen [Member]                  
Details of treasury / other financial risks - Text Details (Detail) [Line Items]                  
Change in the value of transactional hedges following a 10% increase in the value of a currency against EUR   15,000 17,000            
Zloty [Member]                  
Details of treasury / other financial risks - Text Details (Detail) [Line Items]                  
Change in the value of transactional hedges following a 10% increase in the value of a currency against EUR   5,000 6,000            
RUB [member]                  
Details of treasury / other financial risks - Text Details (Detail) [Line Items]                  
Change in the value of transactional hedges following a 10% increase in the value of a currency against EUR   6,000              
US Dollar [Member]                  
Details of treasury / other financial risks - Text Details (Detail) [Line Items]                  
Change in the value of transactional hedges following a 10% increase in the value of a currency against EUR   75,000 53,000            
Change in the value of derivatives following a 10% increase in the value of the EUR against all currencies     208,000            
Change in the value of derivatives following a 10% increase in the value of a currency against EUR   79,000              
Cash flow hedges [member]                  
Details of treasury / other financial risks - Text Details (Detail) [Line Items]                  
Gain (loss) on hedge ineffectiveness recognised in profit or loss   40 100            
Change in value of forward elements of forward contracts and time value of options[Member]                  
Details of treasury / other financial risks - Text Details (Detail) [Line Items]                  
Equity (6,000) (6,000)     (6,000)        
Reserve of cash flow hedges [member]                  
Details of treasury / other financial risks - Text Details (Detail) [Line Items]                  
Equity (10,000) (10,000) 23,000 € 10,000 (10,000)       € 12,000
North American headquarters will move from Andover to Cambridge [Member]                  
Details of treasury / other financial risks - Text Details (Detail) [Line Items]                  
Off balance sheet lease commitment             € 218,000    
Level 1 of fair value hierarchy [member]                  
Details of treasury / other financial risks - Text Details (Detail) [Line Items]                  
Financial assets, at fair value 20,000 20,000 1,313,000   20,000        
Level 1 of fair value hierarchy [member] | Signify Member                  
Details of treasury / other financial risks - Text Details (Detail) [Line Items]                  
Investments in equity instruments designated at fair value through other comprehensive income 434,000 434,000     434,000        
Level 1 of fair value hierarchy [member] | Equity investments [member]                  
Details of treasury / other financial risks - Text Details (Detail) [Line Items]                  
Other non-current financial assets 42,000 42,000     42,000        
Financial assets, at fair value 476,000 476,000 1,313,000   476,000        
Level 2 and 3 of fair value hierarchy [member] | Equity investments [member]                  
Details of treasury / other financial risks - Text Details (Detail) [Line Items]                  
Financial assets measured at fair value through other comprehensive income     € 150,000            
Royal Philips NV [Member]                  
Details of treasury / other financial risks - Text Details (Detail) [Line Items]                  
Commercial Paper Program | $           $ 2,500      
Undrawn borrowing facilities € 1,000,000 € 1,000,000     € 1,000,000        
[1] The accompanying notes are an integral part of these consolidated financial statements. For a number of reasons, principally the effects of translation differences and consolidation changes, certain items in the statements of cash flows do not correspond to the differences between the balance sheet amounts for the respective items
[2] Refer to IFRS 9 disclosure in Significant accounting policies note for the impact of IFRS 9 on 2018 opening balance.
[3] The majority of the balance reflects the remaining stake in Signify (formerly Philips Lighting), which relates to equity instruments.
[4] Amounts in this table are undiscounted
[5] This table excludes post-employment benefit plan contribution commitments and income tax liabilities in respect of tax risks because it is not possible to make a reasonably reliable estimate of the actual period of cash settlement