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Post-employment benefits (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Post-employment benefits [Abstract] |
Post-employment benefits - Post-employment benefits [Text Block] | Philips Group Post-employment benefits in millions of EUR
| United States | Germany | Other Countries | Total
--- | --- | --- | --- | ---
| 2019 | 2020 | 2019 | 2020 | 2019 | 2020 | 2019 | 2020
Present value of funded DBO | (1,738) | (568) | (630) | (649) | (317) | (304) | (2,684) | (1,521)
Present value of unfunded DBO | (148) | (141) | (351) | (344) | (166) | (147) | (666) | (633)
Total present value of DBO | (1,886) | (709) | (981) | (993) | (484) | (451) | (3,350) | (2,153)
Fair value of plan assets | 1,743 | 613 | 524 | 543 | 259 | 247 | 2,526 | 1,403
Net balance sheet position | (143) | (95) | (457) | (450) | (224) | (205) | (824) | (750)
Post-employment benefits - Pre-tax costs for post-employment benefits [Text Block] | Philips Group Pre-tax costs for post-employment benefits in millions of EUR
| 2018 | 2019 | 2020
--- | --- | --- | ---
Defined-benefit plans | 46 | 56 | 74
- included in income from operations | 23 | 34 | 61
- included in financial expense | 23 | 22 | 13
- included in Discontinued operations |  |  |
Defined-contribution plans | 327 | 346 | 366
- included in income from operations | 327 | 346 | 366
- included in Discontinued operations |  |  |
Post-employment benefits costs | 374 | 401 | 440
Post-employment benefits - Defined-benefit obligations [Text Block] | Philips Group Defined-benefit obligations in millions of EUR
| 2019 | 2020
--- | --- | ---
Balance as of January 1 | 2,998 | 3,350
Service cost | 36 | 39
Interest cost | 99 | 71
Employee contributions | 12 | 15
Actuarial (gains) / losses |  |
- demographic assumptions | (52) | 16
- financial assumptions | 304 | 163
- experience adjustment | 29 | 39
(Negative) past service cost | - | 2
Settlements | (5) | (1,185)
Benefits paid from plan | (159) | (221)
Benefits paid directly by employer | (41) | (35)
Translation differences and other | 130 | (100)
Balance as of December 31 | 3,350 | 2,153
Post-employment benefits - Plan assets [Text Block] | Philips Group Plan assets in millions of EUR
| 2019 | 2020
--- | --- | ---
Balance as of January 1 | 2,164 | 2,526
Interest income on plan assets | 77 | 58
Admin expenses paid | (1) | (1)
Return on plan assets excluding interest income | 305 | 268
Employee contributions | 12 | 15
Employer contributions | 28 | 34
Settlements | (1) | (1,205)
Benefits paid from plan | (159) | (221)
Translation differences and other | 103 | (71)
Balance as of December 31 | 2,526 | 1,403
Post-employment benefits - Plan assets allocation [Text Block] | Philips Group Plan assets allocation in millions of EUR
| 2019 | 2020
--- | --- | ---
Assets quoted in active markets |  |
- Debt securities | 1,476 | 782
- Equity securities |  |
- Other | 209 | 175
Assets not quoted in active markets |  |
- Debt securities | 9 | 7
- Equity securities | 473 | 133
- Other | 359 | 307
Total assets | 2,526 | 1,403
Post-employment benefits - Assumptions used for defined-benefit obligations in the United States, Germany and the rest of the world [Text Block] | Philips Group Assumptions used for defined-benefit obligations in the United States, Germany and the rest of the world in %
| US | Germany | Other | Total
--- | --- | --- | --- | ---
| 2019 | 2020 | 2019 | 2020 | 2019 | 2020 | 2019 | 2020
Discount rate | 3.1% | 2.3% | 0.8% | 0.6% | 2.6% | 2.2% | 2.4% | 1.5%
Inflation rate | 2.0% | 2.0% | 1.8% | 1.6% | 1.9% | 1.7% | 1.9% | 1.7%
Salary increase | 0.0% | 0.0% | 2.5% | 2.5% | 2.8% | 2.7% | 2.6% | 2.5%
Post-employment benefits - Sensitivity of key assumptions [Text Block] | Philips Group Sensitivity of key assumptions in millions of EUR
| 2019 | 2020
--- | --- | ---
Increase |  |
Discount rate (1% movement) | (340) | (226)
Inflation rate (1% movement) | 113 | 86
Salary increase (1% movement) | 23 | 16
Longevity1) | 90 | 51
Decrease |  |
Discount rate (1% movement) | 401 | 265
Inflation rate (1% movement) | (107) | (78)
Salary increase (1% movement) | (22) | (19)
1)The mortality table (i.e. longevity) also impacts the DBO. The above sensitivity table illustrates the impact on the DBO of a further 10% decrease in the assumed rates of mortality for the company’s major plans. A 10% decrease in assumed mortality rates equals improvement of life expectancy by 0.5 - 1 year.

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