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Debt (Tables) | 12 Months Ended
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Dec. 31, 2023
Debt [Abstract] |
Debt - Long-term debt [Text Block] | Philips Group Long-term debt in millions of EUR unless otherwise stated
| 2023
--- | ---
| amount outstanding | Current portion | Non-current portion | Between 1 and 5 years | amount due after 5 years | average remaining term (in years) | average rate of interest
USD bonds | 1,325 |  | 1,325 | 240 | 1,085 | 13.3 | 6.3%
EUR bonds | 4,569 |  | 4,569 | 2,335 | 2,234 | 5.1 | 2.0%
Forward contracts | 396 | 321 | 76 | 76 |  | 0.8 | 1.4%
Lease liabilities | 1,074 | 211 | 864 | 505 | 358 | 3.9 | 3.1%
Bank borrowings | 203 | 1 | 201 | 201 |  | 1.2 | 4.2%
Other long-term debt | - | - | - | - | - | 7.4 | 1.2%
Long-term debt | 7,568 | 532 | 7,035 | 3,357 | 3,678 | 6.0 | 2.9%
Philips Group Long-term debt in millions of EUR unless otherwise stated
| 2022
--- | ---
| amount outstanding | Current portion | Non-current portion | Between 1 and 5 years | amount due after 5 years | average remaining term (in years) | average rate of interest
USD bonds | 1,378 |  | 1,378 | 250 | 1,128 | 14.3 | 6.3%
EUR bonds | 4,061 |  | 4,061 | 1,836 | 2,225 | 5.7 | 1.7%
Forward contracts | 858 | 606 | 252 | 252 |  | 1.0 |
Lease liabilities | 1,082 | 230 | 852 | 504 | 348 | 3.9 | 2.4%
Bank borrowings | 705 | 2 | 702 | 702 |  | 1.9 | 1.7%
Other long-term debt | 28 | 4 | 24 | 17 | 6 | 8.9 | 2.9%
Long-term debt | 8,111 | 842 | 7,270 | 3,562 | 3,706 | 6.1 | 2.4%
Debt - Unsecured Bonds [Text Block] | Philips Group Unsecured Bonds in millions of EUR unless otherwise stated
| effective rate | 2022 | 2023
--- | --- | --- | ---
Unsecured EUR Bonds |  |  |
Due 30/03/2025; 1 3/8% | 1.509% | 346 | 346
Due 22/05/2026; 1/2% | 0.608% | 750 | 750
Due 05/05/2027; 1 7/8% | 2.049% | 750 | 750
Due 02/05/2028; 1 3/8% | 1.523% | 500 | 500
Due 05/11/2029; 2 1/8% | 2.441% | 650 | 650
Due 30/03/2030; 2% | 2.128% | 500 | 500
Due 08/09/2031; 4 2/8% | 4.330% |  | 500
Due 05/05/2033; 2 5/8% | 2.710% | 600 | 600
Unsecured USD Bonds |  |  |
Due 15/05/2025; 7 3/4% | 7.429% | 51 | 49
Due 15/05/2025; 7 1/8% | 6.794% | 78 | 75
Due 01/06/2026; 7 1/5% | 6.885% | 119 | 114
Due 03/11/2038; 6 7/8% | 7.210% | 683 | 657
Due 15/03/2042; 5% | 5.273% | 470 | 452
Adjustments1) |  | (57) | (47)
Unsecured Bonds |  | 5,439 | 5,894
1)Adjustments related to both EUR and USD bonds and concern bond discounts, premium and transaction costs.
Debt - Lease liabilities [Text Block] | Philips Group Lease liabilities in millions of EUR
| 2022 | 2023
--- | --- | ---
| future minimum lease payments | interest | present value of minimum lease payments | future minimum lease payments | interest | present value of minimum lease payments
Less than one year | 251 | 21 | 230 | 239 | 28 | 211
Between one and five years | 554 | 49 | 505 | 572 | 67 | 505
More than five years | 376 | 28 | 348 | 388 | 30 | 358
Lease liabilities | 1,180 | 98 | 1,082 | 1,200 | 125 | 1,074
Debt - Short-term debt [Text Block] | Philips Group Short-term debt in millions of EUR
| 2022 | 2023
--- | --- | ---
Short-term bank borrowings | 89 | 122
Current portion of long-term debt | 842 | 532
Short-term debt | 931 | 654

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