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v3.22.4

Income taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Income taxes [Abstract] |
Income taxes - Income tax expense [Text Block] | Philips Group Income tax expense in millions of EUR
| 2020 | 2021 | 2022
--- | --- | --- | ---
Income before taxes | 1,211 | 509 | (1,731)
Investments in associates, net of income taxes | (9) | (4) | (2)
Income before taxes and Investment in associates | 1,220 | 513 | (1,729)
Current tax (expense) benefit | (380) | (298) | (97)
Deferred tax (expense) benefit | 167 | 401 | 210
Income tax (expense) of continuing operations | (212) | 103 | 113
Income taxes - Current income tax expense [Text Block] | Philips Group Current income tax expense in millions of EUR
| 2020 | 2021 | 2022
--- | --- | --- | ---
Current year tax (expense) benefit | (390) | (291) | (111)
Prior year tax (expense) benefit | 10 | (7) | 14
Current tax (expense) benefit | (380) | (298) | (97)
Income taxes - Deferred income tax expense [Text Block] | Philips Group Deferred income tax expense In millions of EUR
|  | 2020 | 2021 | 2022
--- | --- | --- | --- | ---
Recognition of previously unrecognized tax loss and credit carryforwards |  | 6 | 138 | 2
Unrecognized tax loss and credit carryforwards |  |  | (10) | (13)
Changes to recognition of temporary differences |  | 19 | (1) | (4)
Prior year tax (expense) benefit |  | (8) | 20 | (1)
Tax rate changes |  | 12 | 10 | (18)
Origination and reversal of temporary differences, tax losses and tax credits |  | 137 | 245 | 244
Deferred tax (expense) benefit |  | 167 | 401 | 210
Income taxes - Effective income tax rate [Text Block] | Philips Group Effective income tax rate in %
| 2020 | 2021 | 2022
--- | --- | --- | ---
Weighted average statutory income tax rate in % | 25.2 | 22.7 | 23.6
Recognition of previously unrecognized tax loss and credit carryforwards | (0.5) | (26.9) | 0.1
Unrecognized tax loss and credit carryforwards | 0.0 | 1.9 | (0.7)
Changes to recognition of temporary differences | (1.6) | 0.3 | (0.2)
Non-taxable income and tax incentives | (12.9) | (40.6) | 5.8
Non-deductible expenses | 7.0 | 19.3 | (22.9)
Withholding and other taxes | 0.6 | 7.2 | (1.4)
Tax rate changes | (1.0) | (1.9) | (1.0)
Prior year tax | (0.2) | (2.4) | 0.7
Tax expense (benefit) due to change in uncertain tax treatments | 1.2 | 4.4 | 2.8
Others, net | (0.2) | (4.0) | (0.2)
Effective income tax rate | 17.6 | (20.0) | 6.5
Income taxes - Deferred tax assets and liabilities [Text Block] | Philips Group Deferred tax assets and liabilities in millions of EUR
| Balance as of January 1, 2022 | recognized in income statement | other1) | Balance as of December 31, 2022 | Assets | Liabilities
--- | --- | --- | --- | --- | --- | ---
Intangible assets | 587 | 63 | (20) | 630 | 783 | (152)
Property, plant and equipment | 29 | (33) | 2 | (2) | 49 | (52)
Inventories | 372 | 75 | 17 | 464 | 473 | (8)
Other assets | 68 | (16) | (8) | 44 | 98 | (55)
Pensions and other employee benefits | 180 | 6 | (32) | 153 | 175 | (22)
Other liabilities | 499 | (34) | 17 | 483 | 560 | (77)
Deferred tax assets on tax loss carryforwards | 398 | 149 | 38 | 586 | 586 |
Set-off deferred tax positions |  |  |  |  | (275) | 275
Net deferred tax assets | 2,134 | 210 | 14 | 2,358 | 2,449 | (91)
1)Other includes the movements of assets and liabilities recognized in equity and OCI, which includes foreign currency translation differences, acquisitions and divestments. Philips Group Deferred tax assets and liabilities in millions of EUR
| Balance as of January 1, 2021 | recognized in income statement | other1) | Balance as of December 31, 2021 | Assets | Liabilities
--- | --- | --- | --- | --- | --- | ---
Intangible assets | 240 | 535 | (188) | 587 | 716 | (130)
Property, plant and equipment | 32 | 13 | (16) | 29 | 55 | (26)
Inventories | 313 | 31 | 28 | 372 | 381 | (9)
Other assets | 97 | (30) | 1 | 68 | 112 | (43)
Pensions and other employee benefits | 245 | (45) | (21) | 180 | 182 | (2)
Other liabilities | 384 | 91 | 25 | 499 | 584 | (84)
Deferred tax assets on tax loss carryforwards | 449 | (194) | 143 | 398 | 398 |
Set-off deferred tax positions |  |  |  |  | (211) | 211
Net deferred tax assets | 1,761 | 401 | (28) | 2,134 | 2,216 | (83)
1)Other includes the movements of assets and liabilities recognized in equity and OCI, which includes foreign currency translation differences, acquisitions and divestments.
Income taxes - Expiry years of net operating loss and credit carryforwards [Text Block] | Philips Group Expiry years of net operating loss and credit carryforwards in millions of EUR
| Total Balance as of December 31, 2021 | Unrecognized balance as of December 31, 2021 | Total Balance as of December 31, 2022 | Unrecognized balance as of December 31, 2022
--- | --- | --- | --- | ---
Within 1 year | 1,593 | 1,592 | 4 | 3
1 to 2 years | 6 | - | 10 | 5
2 to 3 years | 9 | - | 9 | 3
3 to 4 years | 7 | - | 13 | 4
4 to 5 years | 18 | - | 38 | 3
Later | 751 | 21 | 812 | 93
Unlimited | 1,567 | 934 | 2,301 | 920
Total | 3,951 | 2,547 | 3,187 | 1,032

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