Goods or services | Nature, timing of satisfying the performance obligations and significant payment terms | |
New systems | New systems sales include i-line, KrF, ArF dry, ArF immersion, NXE and EXE-related systems, along with the related factory options ordered with the base system, as well as metrology and inspection systems. | |
Prior to shipment, the majority of our systems undergo a factory acceptance test (FAT) in our cleanroom facilities, effectively replicating the operating conditions that will be present on the customer\u2019s site, in order to verify whether the system meets its standard specifications and any additional technical and performance criteria agreed with the customer.\u00a0 | ||
A system undergoing FAT is shipped only after all contractual specifications are met or discrepancies from agreed-upon specifications are waived and customer sign-off is received for delivery. Each system\u2019s performance is re-tested through a site acceptance test (SAT) after installation at the customer site. We have never failed to successfully complete installation of a system at a customer\u2019s premises; therefore, acceptance at FAT is considered to be proven for established technologies with a history of successful customer acceptances at SAT (equal or better than FAT). | ||
Transfer of control and recognition of revenue of a system undergoing a FAT, and for which customer acceptance at FAT is proven, will occur upon delivery of the system. | ||
Transfer of control and recognition of revenue of a system not undergoing a FAT, or for which customer acceptance at FAT is not proven, will occur after successful installation upon customer acceptance of the system at SAT. | ||
New system sales do not meet the requirements for over time revenue recognition because our customers do not simultaneously receive and consume the benefits provided by our performance, or control the asset throughout any stage of our production process, or the systems are considered to have alternative use. | ||
Used systems | We have no repurchase commitments in our general sales terms and conditions; however, we occasionally repurchase systems that we previously manufactured and sold, in order to refurbish and resell the system to a different customer. This repurchase decision is mainly driven by market demand expressed by other customers. | |
Transfer of control of a used system, and recognition of revenue, follow the same logic as for our \u2018New systems\u2019. |
Goods or services | Nature, timing of satisfying the performance obligations and significant payment terms | |
Field upgrades and options (system enhancements) | Field upgrades and options mainly relate to goods and services that are delivered for systems already installed in the customer factories. Certain upgrades require significant installation efforts, enhancing an asset the customer controls, and therefore resulting in transfer of control over the period of installation. The method of measuring progress is based on what best depicts the satisfaction of our obligation in transferring control. This is generally based on either the cost incurred method, which is estimated using labor hours, or the value transferred method, which is estimated using system performance measurements. For the options and other upgrades for which the customer receives and consumes the benefit at the moment of delivery, the transfer of control and recognition of revenue will occur upon delivery. | |
As long as we are not able to make a reliable estimate of the total efforts needed to complete the upgrade, we only recognize revenue to cover costs incurred. Margin will be realized at the earlier of us being able to make a reliable estimate or completion of the upgrade. | ||
New product introduction | If the installation of new products is determined not to be a separate performance obligation or if there is not a sufficient established history of acceptance on FAT, a new product is considered to be a \u201cnew product introduction\". | |
Transfer of control and revenue recognition for new product introductions occurs after successful installation and customer acceptance at SAT. Once there is an established history of successful installation and customer acceptance, revenue will be recognized consistent with other systems and goods after transfer of control. | ||
Installation | Installation is provided within the selling price of a system. Installation is considered to be distinct if it does not significantly modify the system being purchased and the customer or a third party could be capable of performing the installation themselves, if desired. Transfer of control takes place over the period of installation from delivery through SAT, measured on a straight-line basis, as our performance is satisfied evenly over this period of time. Installation is not considered to be distinct when recognition of revenue related to a system occurs upon customer acceptance of the system at SAT after installation is complete. | |
Warranties | We provide standard warranty coverage on our systems for 12 months, providing labor and non-consumable parts necessary to repair our systems during these warranty periods. These standard warranties cannot be purchased and do not provide a service in addition to the general assurance the system will perform as promised. As a result, no revenue is allocated to these standard warranties. | |
Both the extended and enhanced warranties on our systems are accounted for as a separate performance obligation, with transfer of control taking place over the warranty period, measured on a straight-line basis, as this is a stand-ready obligation. |
Goods or services | Nature, timing of satisfying the performance obligations and significant payment terms | |
Time-based licenses and related services | Time-based licenses relate to software licenses and the related services which are sold for a period of time. The licenses and the related services are not considered to be individually distinct, as the support services are integral to the customer\u2019s ability to continue to use the software license in the rapidly changing technological environment. The transfer of control takes place over the license term, measured on a straight-line basis, as our performance is satisfied evenly over this period of time. Payments are generally made in installments throughout the license term. | |
Application projects | Application projects are node transition and consulting projects which at times may be provided as free service within a volume purchase agreement. Measuring satisfaction of this performance obligation is performed through an input method based on the labor hours expended relative to the estimated total labor hours, as this best depicts the transfer of control of these kind of services. | |
Service contracts | Service contracts are entered into with our customers to support our systems used in their ongoing operations during the systems life cycle, typically in the form of full-service agreements, limited manpower agreements, other labor agreements, parts availability or parts usage agreements. These services are for a specified period of time and typically have a fixed price. Control transfers over this period of time, measured on a straight-line basis, as these are stand-ready obligations. For service contracts where the price is not fixed, the transaction price has a variable component that is based on the performance of the system. | |
Billable parts and labor | Billable labor represents maintenance services to our systems installed in the customer\u2019s factories while in operation, through purchase orders from our customer. Control over these services is transferred to the customer upon receipt of customer sign-off. | |
Billable parts represent spare parts including optical components relating to our systems installed in the customer\u2019s factories while in operation, through purchase orders from our customer. | ||
Billable parts can be: | ||
\u2022 Sold as direct spare parts, for which control transfers point in time upon delivery; or | ||
\u2022 Sold as part of maintenance services, where control transfers point in time upon receipt of customer sign-off. | ||
Field projects (relocations) | Field projects represent mainly relocation services. Measuring satisfaction of this performance obligation is performed through an input method based on the labor hours expended relative to the estimated total labor hours, as this best depicts the transfer of control of our service. | |
OnPulse maintenance | OnPulse maintenance services are provided over a specified period of time on our light source systems. Payment is determined by the amount of pulses counted from each light source system, which is variable. Invoicing is monthly based on the pulses counted. Revenue is recognized in line with invoicing using the practical expedient in EU-IFRS 15.B16. |
Year ended December\u00a031 | 2022 | 2023 | 2024 | |||
in units | in \u20ac millions | in units | in \u20ac millions | in units | in \u20ac millions | |
EXE | \u2014 | \u2014 | \u2014 | \u2014 | 2 | 465.0 |
NXE | 40 | 7,045.3 | 53 | 9,124.0 | 42 | 7,856.4 |
ArF immersion | 81 | 5,236.5 | 125 | 9,017.4 | 129 | 9,667.0 |
ArF dry | 28 | 623.7 | 32 | 780.2 | 28 | 774.4 |
KrF | 151 | 1,653.7 | 184 | 2,202.5 | 152 | 1,991.2 |
I-line | 45 | 211.5 | 55 | 278.4 | 65 | 369.2 |
Metrology & Inspection | 216 | 659.6 | 151 | 536.1 | 165 | 645.5 |
Total | 561 | 15,430.3 | 600 | 21,938.6 | 583 | 21,768.7 |
Year ended December\u00a031 | 2022 | 2023 | 2024 | |||
in units | in \u20ac millions | in units | in \u20ac millions | in units | in \u20ac millions | |
Logic | 357 | 9,977.6 | 439 | 15,984.7 | 399 | 13,195.1 |
Memory | 204 | 5,452.7 | 161 | 5,953.9 | 184 | 8,573.6 |
Total | 561 | 15,430.3 | 600 | 21,938.6 | 583 | 21,768.7 |
Year ended December 31 (\u20ac, in millions) | 2023 | 2024 | |||
Contract assets | Contract liabilities | Contract assets | Contract liabilities | ||
Balance at beginning of the year | 131.9 | 17,750.9 | 240.1 | 16,266.5 | |
Transferred from contract assets to accounts receivables | (402.0) | \u2014 | (213.2) | \u2014 | |
Revenue recognized during the year ending in contract assets | 135.1 | \u2014 | 275.9 | \u2014 | |
Revenue recognized that was included in contract liabilities | \u2014 | (11,106.1) | \u2014 | (9,047.5) | |
Changes as a result of cumulative catch-up adjustments arising from changes in estimates | \u2014 | (24.9) | \u2014 | (61.3) | |
Remaining performance obligations for which considerations have been received, or for which we have an unconditional right to consideration | \u2014 | 9,416.3 | \u2014 | 11,483.4 | |
Transfer between contract assets and liabilities | 375.1 | 375.1 | 17.8 | 17.8 | |
Other | \u2014 | (144.8) | \u2014 | (462.7) | |
Total | 240.1 | 16,266.5 | 320.6 | 18,196.2 |
Goods or services | Nature, timing of satisfying the performance obligations and significant payment terms | |
New systems | New systems sales include i-line, KrF, ArF dry, ArF immersion, NXE and EXE-related systems, along with the related factory options ordered with the base system, as well as metrology and inspection systems. | |
Prior to shipment, the majority of our systems undergo a factory acceptance test (FAT) in our cleanroom facilities, effectively replicating the operating conditions that will be present on the customer\u2019s site, in order to verify whether the system meets its standard specifications and any additional technical and performance criteria agreed with the customer.\u00a0 | ||
A system undergoing FAT is shipped only after all contractual specifications are met or discrepancies from agreed-upon specifications are waived and customer sign-off is received for delivery. Each system\u2019s performance is re-tested through a site acceptance test (SAT) after installation at the customer site. We have never failed to successfully complete installation of a system at a customer\u2019s premises; therefore, acceptance at FAT is considered to be proven for established technologies with a history of successful customer acceptances at SAT (equal or better than FAT). | ||
Transfer of control and recognition of revenue of a system undergoing a FAT, and for which customer acceptance at FAT is proven, will occur upon delivery of the system. | ||
Transfer of control and recognition of revenue of a system not undergoing a FAT, or for which customer acceptance at FAT is not proven, will occur after successful installation upon customer acceptance of the system at SAT. | ||
New system sales do not meet the requirements for over time revenue recognition because our customers do not simultaneously receive and consume the benefits provided by our performance, or control the asset throughout any stage of our production process, or the systems are considered to have alternative use. | ||
Used systems | We have no repurchase commitments in our general sales terms and conditions; however, we occasionally repurchase systems that we previously manufactured and sold, in order to refurbish and resell the system to a different customer. This repurchase decision is mainly driven by market demand expressed by other customers. | |
Transfer of control of a used system, and recognition of revenue, follow the same logic as for our \u2018New systems\u2019. |
Goods or services | Nature, timing of satisfying the performance obligations and significant payment terms | |
Field upgrades and options (system enhancements) | Field upgrades and options mainly relate to goods and services that are delivered for systems already installed in the customer factories. Certain upgrades require significant installation efforts, enhancing an asset the customer controls, and therefore resulting in transfer of control over the period of installation. The method of measuring progress is based on what best depicts the satisfaction of our obligation in transferring control. This is generally based on either the cost incurred method, which is estimated using labor hours, or the value transferred method, which is estimated using system performance measurements. For the options and other upgrades for which the customer receives and consumes the benefit at the moment of delivery, the transfer of control and recognition of revenue will occur upon delivery. | |
As long as we are not able to make a reliable estimate of the total efforts needed to complete the upgrade, we only recognize revenue to cover costs incurred. Margin will be realized at the earlier of us being able to make a reliable estimate or completion of the upgrade. | ||
New product introduction | If the installation of new products is determined not to be a separate performance obligation or if there is not a sufficient established history of acceptance on FAT, a new product is considered to be a \u201cnew product introduction\". | |
Transfer of control and revenue recognition for new product introductions occurs after successful installation and customer acceptance at SAT. Once there is an established history of successful installation and customer acceptance, revenue will be recognized consistent with other systems and goods after transfer of control. | ||
Installation | Installation is provided within the selling price of a system. Installation is considered to be distinct if it does not significantly modify the system being purchased and the customer or a third party could be capable of performing the installation themselves, if desired. Transfer of control takes place over the period of installation from delivery through SAT, measured on a straight-line basis, as our performance is satisfied evenly over this period of time. Installation is not considered to be distinct when recognition of revenue related to a system occurs upon customer acceptance of the system at SAT after installation is complete. | |
Warranties | We provide standard warranty coverage on our systems for 12 months, providing labor and non-consumable parts necessary to repair our systems during these warranty periods. These standard warranties cannot be purchased and do not provide a service in addition to the general assurance the system will perform as promised. As a result, no revenue is allocated to these standard warranties. | |
Both the extended and enhanced warranties on our systems are accounted for as a separate performance obligation, with transfer of control taking place over the warranty period, measured on a straight-line basis, as this is a stand-ready obligation. |
Goods or services | Nature, timing of satisfying the performance obligations and significant payment terms | |
Time-based licenses and related services | Time-based licenses relate to software licenses and the related services which are sold for a period of time. The licenses and the related services are not considered to be individually distinct, as the support services are integral to the customer\u2019s ability to continue to use the software license in the rapidly changing technological environment. The transfer of control takes place over the license term, measured on a straight-line basis, as our performance is satisfied evenly over this period of time. Payments are generally made in installments throughout the license term. | |
Application projects | Application projects are node transition and consulting projects which at times may be provided as free service within a volume purchase agreement. Measuring satisfaction of this performance obligation is performed through an input method based on the labor hours expended relative to the estimated total labor hours, as this best depicts the transfer of control of these kind of services. | |
Service contracts | Service contracts are entered into with our customers to support our systems used in their ongoing operations during the systems life cycle, typically in the form of full-service agreements, limited manpower agreements, other labor agreements, parts availability or parts usage agreements. These services are for a specified period of time and typically have a fixed price. Control transfers over this period of time, measured on a straight-line basis, as these are stand-ready obligations. For service contracts where the price is not fixed, the transaction price has a variable component that is based on the performance of the system. | |
Billable parts and labor | Billable labor represents maintenance services to our systems installed in the customer\u2019s factories while in operation, through purchase orders from our customer. Control over these services is transferred to the customer upon receipt of customer sign-off. | |
Billable parts represent spare parts including optical components relating to our systems installed in the customer\u2019s factories while in operation, through purchase orders from our customer. | ||
Billable parts can be: | ||
\u2022 Sold as direct spare parts, for which control transfers point in time upon delivery; or | ||
\u2022 Sold as part of maintenance services, where control transfers point in time upon receipt of customer sign-off. | ||
Field projects (relocations) | Field projects represent mainly relocation services. Measuring satisfaction of this performance obligation is performed through an input method based on the labor hours expended relative to the estimated total labor hours, as this best depicts the transfer of control of our service. | |
OnPulse maintenance | OnPulse maintenance services are provided over a specified period of time on our light source systems. Payment is determined by the amount of pulses counted from each light source system, which is variable. Invoicing is monthly based on the pulses counted. Revenue is recognized in line with invoicing using the practical expedient in EU-IFRS 15.B16. |
Year ended December 31 (\u20ac, in millions) | 2022 | 2023 | 2024 | |
New systems | 15,152.3 | 21,622.4 | 21,139.7 | |
Used systems | 278.0 | 316.2 | 629.0 | |
Net system sales | 15,430.3 | 21,938.6 | 21,768.7 |
Year ended December 31 (\u20ac, in millions) | 2022 | 2023 | 2024 | |||
Total net sales | Non-current assets | Total net sales | Non-current assets | Total net sales | Non-current assets | |
Japan | 1,008.6 | 7.9 | 613.6 | 10.2 | 1,156.0 | 17.1 |
South Korea | 6,045.6 | 94.4 | 6,949.2 | 157.3 | 6,408.8 | 249.3 |
Singapore | 475.5 | 5.5 | 282.1 | 5.2 | 285.0 | 4.4 |
Taiwan | 8,095.5 | 223.0 | 8,074.6 | 368.5 | 4,354.0 | 481.4 |
China | 2,916.0 | 41.8 | 7,251.8 | 44.5 | 10,195.1 | 75.9 |
Rest of Asia | 7.2 | 0.2 | 3.9 | 0.1 | 3.5 | 0.1 |
Netherlands | 9.2 | 8,024.1 | 25.1 | 9,383.4 | 16.6 | 10,931.6 |
EMEA | 624.5 | 1,051.1 | 1,206.8 | 1,106.5 | 1,322.1 | 1,201.0 |
United States | 1,991.3 | 4,200.8 | 3,151.4 | 4,732.4 | 4,521.8 | 5,193.2 |
Total | 21,173.4 | 13,648.8 | 27,558.5 | 15,808.1 | 28,262.9 | 18,154.0 |
Year ended December 31 (\u20ac, in millions) | 2023 | 2024 | |
Total assets (based on US GAAP) | 39,957.5 | 48,589.6 | |
Development expenditures (Note A) | 3,201.2 | 4,117.9 | |
Income taxes | (80.1) | (141.0) | |
Total assets based on EU-IFRS | 43,078.6 | 52,566.5 |
Year ended December\u00a031 (\u20ac, in millions) | 2023 | 2024 | |
Deposits with financial institutions, governments and government-related bodies | 1,348.7 | 4,850.4 | |
Investments in money market funds | 3,167.4 | 6,379.2 | |
Bank accounts | 2,488.6 | 1,506.3 | |
Cash and cash equivalents | 7,004.7 | 12,735.9 | |
Deposits with financial institutions, governments and government-related bodies | 5.4 | 5.4 | |
Short-term investments | 5.4 | 5.4 |
Year ended December\u00a031 (\u20ac, in millions) | 2023 | 2024 | |
Accounts receivable, gross | 4,334.1 | 4,477.5 | |
Allowance for credit losses | \u2014 | \u2014 | |
Accounts receivable, net | 4,334.1 | 4,477.5 |
As of December 31 (\u20ac, in millions) | 2023 | 2024 | |
Up to three months past due | 1,111.6 | 1,116.4 | |
Over three months past due | 97.1 | 141.8 | |
Total past due | 1,208.7 | 1,258.2 |
Year ended December\u00a031 (\u20ac, in millions) | 2023 | 2024 | |
Finance receivables, gross | 1,439.8 | 399.8 | |
Unearned interest | \u2014 | \u2014 | |
Finance receivables, net | 1,439.8 | 399.8 | |
Current portion of finance receivables, gross | 1,379.2 | 82.6 | |
Current portion of unearned interest | \u2014 | \u2014 | |
Non-current portion of finance receivables, net | 60.6 | 317.2 |
Minimum lease payments | Present value of minimum lease payments | |||||
Year ended December\u00a031 (\u20ac, in millions) | 2023 | 2024 | 2023 | 2024 | ||
Not later than one year | 1,379.2 | 82.6 | 1,379.2 | 82.6 | ||
Later than one year and not later than two years | 60.6 | 317.2 | 60.6 | 317.2 | ||
Total | 1,439.8 | 399.8 | 1,439.8 | 399.8 | ||
Less: unearned interest | \u2014 | \u2014 | \u2014 | \u2014 | ||
Present value of minimum lease payments receivable | 1,439.8 | 399.8 | 1,439.8 | 399.8 |
Year ended December\u00a031 (\u20ac, in millions) | 2023 | 2024 | |
Raw materials | 4,057.3 | 4,911.2 | |
Work-in-process | 3,388.1 | 4,872.3 | |
Finished products | 2,098.5 | 2,019.5 | |
Inventories, gross | 9,543.9 | 11,803.0 | |
Allowance for obsolescence | (693.2) | (911.5) | |
Inventories, net | 8,850.7 | 10,891.5 |
Year ended December\u00a031 (\u20ac, in millions) | 2023 | 2024 | |
Balance at beginning of year | (466.9) | (693.2) | |
Addition for the year | (485.3) | (554.7) | |
Effect of changes in exchange rates | 2.4 | (1.7) | |
Utilization of the provision | 256.6 | 338.1 | |
Balance at end of year | (693.2) | (911.5) |
Year ended December\u00a031 (\u20ac, in millions) | 2023 | 2024 | |
Advance payments to Carl Zeiss SMT GmbH1 | 691.9 | 815.8 | |
Prepaid expenses | 147.4 | 175.3 | |
VAT receivable | 302.2 | 279.1 | |
Other assets | 92.6 | 193.4 | |
Other current assets\u00a0 | 1,234.1 | 1,463.6 | |
Advance payments to Carl Zeiss SMT GmbH1 | 490.8 | 599.9 | |
Prepaid expenses | 40.9 | 49.5 | |
Compensation plan assets | 95.2 | 113.1 | |
Other assets | 13.8 | 28.3 | |
Other non-current assets\u00a0 | 640.7 | 790.8 |
Year ended December\u00a031 (\u20ac, in millions) | 2023 | 2024 | |
Summarized Statement of Financial Position: | |||
Total non-current assets | 1,652.4 | 1,931.0 | |
Total current assets | 2,988.6 | 3,458.8 | |
Total non-current liabilities | 1,230.4 | 1,776.0 | |
Total current liabilities | 2,829.3 | 3,042.4 | |
Summarized Statement of Profit or Loss and Comprehensive Income: | |||
Total net sales | 3,499.1 | 4,053.7 | |
Net income | 941.3 | 934.3 | |
Other comprehensive income | (0.7) | (39.8) | |
Total comprehensive income | 940.6 | 894.5 |
Year ended December\u00a031 (\u20ac, in millions) | 2023 | 2024 | |
Net income | 941.3 | 934.3 | |
ASML's share of net income | 234.4 | 232.6 | |
Accounting policy alignment | (22.3) | (16.2) | |
Basis difference adjustments | (26.7) | (27.4) | |
Intercompany profit elimination | 5.9 | 20.8 | |
ASML profit related to investments in associates | 191.3 | 209.8 |
Legal Entity | Country of Incorporation |
Subsidiaries of ASML Holding NV1 :\u00a0 | |
ASML Belgium BV | Belgium (Antwerp) |
Hermes Microvision Co., Ltd. (Beijing) | China (Beijing) |
ASML (Shanghai) Electrical Equipment Co. Ltd. | China (Shanghai) |
ASML (Beijing) Equipment Repair Company Limited | China (Beijing) |
ASML (Shanghai) Lithography Facilities Science and Technology Co. Ltd. | China (Shanghai) |
Cymer Semiconductor Equipment (Shanghai) Co. Ltd. | China (Shanghai) |
Hermes Microvision (Shanghai) Co., Ltd | China (Shanghai) |
Brion Technologies (Shenzhen) Co. Ltd. | China (Shenzhen) |
ASML France S.a.r.l. | France (Crolles) |
ASML Verwaltungs GmbH i.l. | Germany (Berlin) |
ASML Berlin GmbH (formerly Berliner Glas GmbH) | Germany (Berlin) |
ASML Germany GmbH | Germany (Dresden) |
ASML Participations Germany GmbH | Germany (Dresden) |
ASML Hong Kong Ltd. | Hong Kong SAR |
ASML Ireland Ltd. | Ireland (Dublin) |
ASML Israel (2001) Ltd. | Israel (Kiryat Gat) |
ASML Italy S.r.l. | Italy (Avezzano) |
ASML Japan Co. Ltd. | Japan (Tokyo) |
Cymer Japan, Inc. | Japan (Tokyo) |
ASML Equipment Malaysia Sdn. Bhd. | Malaysia (Georgetown, Pulau Pinang) |
Cymer BV | Netherlands (Veldhoven) |
ASML Netherlands BV | Netherlands (Veldhoven) |
ASML Trading BV | Netherlands (Veldhoven) |
Hermes Microvision Incorporated BV | Netherlands (Veldhoven) |
ASML Singapore Pte. Ltd. | Singapore |
Cymer Singapore Pte Ltd. | Singapore |
ASML Korea Co. Ltd. | South Korea (Gyeonggi-Do) |
Legal Entity | Country of Incorporation |
ASML Repair Center Korea Ltd. | South Korea (Gyeonggi-Do) |
Cymer Korea Inc. | South Korea (Gyeonggi-Do) |
ASML Taiwan Ltd. | Taiwan (Hsinchu City) |
ASML Technology Taiwan Ltd. | Taiwan (Hsinchu City) |
Cymer Southeast Asia Ltd. | Taiwan (Hsinchu City) |
ASML (UK) Ltd. | UK (Edinburgh (Scotland)) |
Cymer, LLC | US (Carson City, Nevada) |
EO Technical Solutions LLC | US (Vancouver, Washington) |
ASML US, LLC | US (Wilmington, Delaware) |
ASML US, LP | US (Wilmington, Delaware) |
Associates of ASML Holding NV: | |
Carl Zeiss SMT Holding GmbH & Co. KG (24.9%) | Germany (Oberkochen) |
HighTechXL Group BV (31.97%) | Netherlands |
Category | Estimated useful life |
Brands | 20 years |
Development expenditures | 1 \u2013 5 years |
Intellectual property | 3\u201310 years |
Developed technology | 6\u201315 years |
Customer relationships | 8\u201318 years |
Other | 2\u201310 years |
\u20ac, in millions | Development expenditures | Brands | Intellectual property | Developed technology | Customer relationships | Other | Total |
Cost | |||||||
Balance at January 1, 2023 | 4,850.9 | 38.9 | 147.1 | 1,220.2 | 228.6 | 222.5 | 6,708.2 |
Additions | 945.4 | \u2014 | \u2014 | \u2014 | \u2014 | 39.3 | 984.7 |
Disposals | \u2014 | \u2014 | \u2014 | \u2014 | \u2014 | (0.3) | (0.3) |
Effect of changes in exchange rates | (1.0) | \u2014 | \u2014 | \u2014 | \u2014 | (1.4) | (2.4) |
Balance at December 31, 2023 | 5,795.3 | 38.9 | 147.1 | 1,220.2 | 228.6 | 260.1 | 7,690.2 |
Additions | 1,122.7 | \u2014 | \u2014 | \u2014 | \u2014 | 14.3 | 1,137.0 |
Disposals | \u2014 | \u2014 | \u2014 | \u2014 | \u2014 | (0.6) | (0.6) |
Effect of changes in exchange rates | 3.1 | \u2014 | \u2014 | \u2014 | \u2014 | (0.1) | 3.0 |
Balance at December 31, 2024 | 6,921.1 | 38.9 | 147.1 | 1,220.2 | 228.6 | 273.7 | 8,829.6 |
Accumulated amortization | |||||||
Balance at January 1, 2023 | 2,347.6 | 14.9 | 95.8 | 677.4 | 121.3 | 105.5 | 3,362.5 |
Amortization | 256.2 | 1.9 | 8.3 | 76.8 | 12.7 | 27.9 | 383.8 |
Impairment charges | \u2014 | \u2014 | \u2014 | \u2014 | \u2014 | 11.1 | 11.1 |
Disposals | \u2014 | \u2014 | \u2014 | \u2014 | \u2014 | (0.3) | (0.3) |
Effect of changes in exchange rates | \u2014 | \u2014 | \u2014 | \u2014 | \u2014 | (0.1) | (0.1) |
Balance at December 31, 2023 | 2,603.8 | 16.8 | 104.1 | 754.2 | 134.0 | 144.1 | 3,757.0 |
Amortization | 208.0 | 1.9 | 8.3 | 74.5 | 12.6 | 28.7 | 334.0 |
Impairment charges | \u2014 | \u2014 | \u2014 | \u2014 | \u2014 | 8.0 | 8.0 |
Disposals | \u2014 | \u2014 | \u2014 | \u2014 | \u2014 | (0.5) | (0.5) |
Effect of changes in exchange rates | 1.7 | \u2014 | \u2014 | \u2014 | \u2014 | 0.5 | 2.2 |
Balance at December 31, 2024 | 2,813.5 | 18.7 | 112.4 | 828.7 | 146.6 | 180.8 | 4,100.7 |
Carrying amount | |||||||
December 31, 2023 | 3,191.5 | 22.1 | 43.0 | 466.0 | 94.6 | 116.0 | 3,933.2 |
December 31, 2024 | 4,107.6 | 20.2 | 34.7 | 391.5 | 82.0 | 92.9 | 4,728.9 |
Year ended December\u00a031 (\u20ac, in millions) | 2022 | 2023 | 2024 | |
Cost of Sales | 398.2 | 358.9 | 311.8 | |
R&D Costs | 18.2 | 19.5 | 20.8 | |
SG&A | 11.0 | 5.4 | 1.4 | |
Total Amortization | 427.4 | 383.8 | 334.0 |
\u20ac, in millions | Amount |
2025 | 845.5 |
2026 | 965.8 |
2027 | 937.8 |
2028 | 883.4 |
2029 | 806.2 |
Thereafter | 290.2 |
Total | 4,728.9 |
Category | Estimated useful life |
Buildings | 5\u201345 years |
Machinery and equipment | 1\u20137 years |
Leasehold improvements | 1\u201310 years |
Furniture, fixtures and other | 3\u20135 years |
\u20ac, in millions | Land and buildings | Machinery and equipment | Leasehold improvements | Furniture, fixtures and other | Total |
Cost | |||||
Balance at January 1, 2023 | 3,314.0 | 2,777.6 | 400.8 | 497.0 | 6,989.4 |
Additions | 1,019.3 | 1,050.2 | 79.7 | 94.4 | 2,243.6 |
Disposals | (1.6) | (45.1) | (0.8) | (2.1) | (49.6) |
Net non-cash movements to/from Inventories | \u2014 | (75.3) | \u2014 | \u2014 | (75.3) |
Effect of changes in exchange rates | (8.3) | (17.4) | (1.2) | (1.4) | (28.3) |
Balance at December 31, 2023 | 4,323.4 | 3,690.0 | 478.5 | 587.9 | 9,079.8 |
Additions | 1,120.1 | 756.5 | 116.9 | 65.8 | 2,059.3 |
Disposals | (3.2) | (45.6) | (0.3) | (7.6) | (56.7) |
Net non-cash movements to/from Inventories | \u2014 | (40.0) | \u2014 | \u2014 | (40.0) |
Effect of changes in exchange rates | 8.1 | (1.7) | (0.6) | 12.5 | 18.3 |
Balance at December 31, 2024 | 5,448.4 | 4,359.2 | 594.5 | 658.6 | 11,060.7 |
Accumulated depreciation and impairment | |||||
Balance at January 1, 2023 | 1,090.6 | 1,312.3 | 331.9 | 310.4 | 3,045.2 |
Depreciation | 154.2 | 352.0 | 31.0 | 68.4 | 605.6 |
Impairment charges | 2.9 | 15.0 | \u2014 | \u2014 | 17.9 |
Disposals | (0.6) | (37.7) | (0.7) | (2.0) | (41.0) |
Net non-cash movements to/from Inventories | \u2014 | (29.3) | \u2014 | \u2014 | (29.3) |
Effect of changes in exchange rates | (4.0) | (6.7) | (0.7) | (0.4) | (11.8) |
Balance at December 31, 2023 | 1,243.1 | 1,605.6 | 361.5 | 376.4 | 3,586.6 |
Depreciation | 169.4 | 506.8 | 38.4 | 72.7 | 787.3 |
Impairment charges | 3.3 | 11.7 | 0.2 | 1.9 | 17.1 |
Disposals | \u2014 | (38.5) | \u2014 | (7.5) | (46.0) |
Net non-cash movements to/from Inventories | \u2014 | (136.4) | \u2014 | \u2014 | (136.4) |
Effect of changes in exchange rates | 4.0 | 0.4 | 0.4 | 0.5 | 5.3 |
Balance at December 31, 2024 | 1,419.8 | 1,949.6 | 400.5 | 444.0 | 4,213.9 |
Carrying amount | |||||
December 31, 2023 | 3,080.3 | 2,084.4 | 117.0 | 211.5 | 5,493.2 |
December 31, 2024 | 4,028.6 | 2,409.6 | 194.0 | 214.6 | 6,846.8 |
Year ended December\u00a031 (\u20ac, in millions) | 2022 | 2023 | 2024 | |
Cost of Sales | 248.2 | 330.4 | 398.4 | |
R&D Costs | 163.7 | 236.2 | 340.5 | |
SG&A | 33.3 | 39.0 | 48.4 | |
Total Depreciation | 445.2 | 605.6 | 787.3 |
Year ended December 31 (\u20ac, in millions) | 2023 | 2024 | |
Properties | 270.3 | 333.7 | |
Cars | 5.4 | 7.6 | |
Warehouses | 30.3 | 42.6 | |
Other | 0.6 | 3.3 | |
Right-of-use assets | 306.6 | 387.2 |
Year ended December 31 (\u20ac, in millions) | 2023 | 2024 | |
Current | 46.7 | 68.6 | |
Non-current | 181.2 | 237.4 | |
Lease liabilities | 227.9 | 306.0 |
Year ended December 31 (\u20ac, in millions) | 2022 | 2023 | 2024 | |
Properties | 52.3 | 40.4 | 50.2 | |
Cars | 2.7 | 5.9 | 6.1 | |
Warehouses | 4.0 | 5.9 | 15.0 | |
Other | 1.4 | 0.8 | 2.2 | |
Depreciation charge right-of-use assets | 60.4 | 53.0 | 73.5 |
Year ended December 31 (\u20ac, in millions) | 2022 | 2023 | 2024 | |
Total cash flows | 57.9 | 148.2 | 96.3 |
Year ended December\u00a031 (\u20ac, in millions) | 2022 | 2023 | 2024 | |
Weighted average remaining lease term (months) | 67 | 365 | 296 | |
Weighted average discount rate (%) | 2.2% | 2.5% | 3.0% |
Year ended December 31 (\u20ac, in millions) | 2023 | 2024 | |
Costs to be paid1 | 632.7 | 536.1 | |
Personnel-related items | 1,328.5 | 1,599.6 | |
Lease liabilities 2 | 227.2 | 306.0 | |
Provisions | 76.7 | 100.8 | |
Standard warranty reserve | 142.3 | 158.9 | |
Refund liability | \u2014 | 309.4 | |
Other | 14.4 | 21.7 | |
Accrued and other liabilities | 2,421.8 | 3,032.5 | |
Less: non-current portion of accrued and other liabilities | 338.4 | 430.2 | |
Current portion of accrued and other liabilities\u00a0 | 2,083.4 | 2,602.3 |
Year ended December 31 (\u20ac, in millions) | 2023 | 2024 | |
Balance at beginning of year | 143.6 | 142.3 | |
Additions for the year | 232.2 | 210.0 | |
Utilization of the reserve | (233.3) | (193.5) | |
Effect of exchange rates | (0.2) | 0.1 | |
Balance at end of year | 142.3 | 158.9 |
Year ended December 31 (\u20ac, in millions) | 2022 | 2023 | 2024 | |
Wages and salaries | 3,283.1 | 4,666.4 | 5,001.2 | |
Social security expenses | 300.7 | 410.5 | 468.4 | |
Pension and retirement expenses | 255.9 | 348.9 | 395.2 | |
Share-based payments | 68.9 | 134.8 | 172.6 | |
Personnel expenses | 3,908.6 | 5,560.6 | 6,037.4 |
Average number of payroll employees in FTEs | 2022 | 2023 | 2024 | |
Netherlands | 16,722 | 19,876 | 21,811 | |
Worldwide (including Netherlands) | 33,071 | 38,805 | 41,697 |
Year ended December 31 (in FTE) | 2022 | 2023 | 2024 | |
Customer Support and Sales | 9,643 | 10,790 | 10,344 | |
Manufacturing and Supply Chain Management | 9,953 | 9,954 | 11,341 | |
Strategic Supply Management | 1,541 | 2,033 | 1,965 | |
General and Administrative | 3,768 | 4,035 | 4,385 | |
Research and Development | 14,181 | 15,604 | 15,992 | |
Total | 39,086 | 42,416 | 44,027 | |
Less: Temporary employees | 2,974 | 2,107 | 1,241 | |
Payroll employees | 36,112 | 40,309 | 42,786 |
Year ended December 31 (\u20ac, in millions) | 2022 | 2023 | 2024 | |
Board of Management | 3.8 | 6.0 | 5.3 | |
Former Board of Management1 | \u2014 | \u2014 | 1.0 | |
Other employees | 410.2 | 932.0 | 816.8 | |
Total STI bonus expenses | 414.0 | 938.0 | 823.1 |
Year ended December 31 (\u20ac, in millions) | 2023 | 2024 | |
\u20ac1,000 million 1.375% senior notes issued July 2016 and principal due July 7th 2026 interest annually payable on July 7th, carrying amount | 936.8 | 967.7 | |
\u20ac750 million 1.625% senior notes issued November 2016 and principal due May 28th 2027 interest annually payable on May 28th, carrying amount | 701.3 | 720.1 | |
\u20ac750 million 0.250% senior notes issued February 2020 and principal due February 25th 2030 interest annually payable on February 25th, carrying amount | 743.7 | 744.8 | |
\u20ac750 million 0.625% senior notes issued May 2020 and principal due May 7th 2029 interest annually payable on May 7th, carrying amount | 747.9 | 748.3 | |
\u20ac500 million 2.250% senior notes issued May 2022 and principal due May 17th 2032 interest annually payable on May 17th, carrying amount | 472.1 | 478.2 | |
\u20ac1,000 million 3.500% senior notes issued June 2023 and principal due December 6th 2025 interest annually payable on December 6th, carrying amount | 1,008.6 | 1,010.3 | |
Debt acquired from Berliner Glas (ASML Berlin GmbH) | 20.5 | 18.2 | |
Other | 0.7 | \u2014 | |
Long-term debt | 4,631.6 | 4,687.6 | |
Less: current portion of long-term debt | 0.1 | 1,010.3 | |
Non-current portion of long-term debt | 4,631.5 | 3,677.3 |
\u20ac, in millions | Amount |
2025 | 1,001.8 |
2026 | 1,001.8 |
2027 | 751.8 |
2028 | 1.8 |
2029 | 751.8 |
Thereafter | 1,259.1 |
Total debt maturities | 4,768.1 |
Year ended December 31 (\u20ac, in millions) | 2023 | 2024 | |
Amortized cost amount | 4,731.7 | 4,736.9 | |
Fair value interest rate swaps1 | (121.3) | (67.5) | |
Carrying amount | 4,610.4 | 4,669.4 |
Year ended December 31 (\u20ac, in millions) | 2023 | 2024 | |
Principal amount | 4,750.0 | 4,750.0 | |
Carrying amount | 4,610.4 | 4,669.4 | |
Fair value1 | 4,496.2 | 4,561.8 |
\u20ac, in millions | 2023 | 2024 | |
Balance at January 1 | 4,258.1 | 4,630.8 | |
Cash flows | 248.1 | (2.3) | |
Non-cash changes: | |||
Fair value adjustments | 121.9 | 53.8 | |
Other | 2.7 | 5.3 | |
Balance at December 31 | 4,630.8 | 4,687.6 |
Payments due by period (\u20ac, in billions) | Total | 1 year | 2 years | 3 years | 4 years | 5 years | >5 years |
Long-term debt obligations, including interest1 | 5.0 | 1.1 | 1.0 | 0.8 | \u2014 | 0.8 | 1.3 |
Lease obligations2 | 0.3 | 0.1 | 0.1 | \u2014 | \u2014 | \u2014 | 0.1 |
Purchase obligations | 13.3 | 9.9 | 2.2 | 0.8 | 0.2 | 0.1 | 0.1 |
Total contractual obligations | 18.6 | 11.1 | 3.3 | 1.6 | 0.2 | 0.9 | 1.5 |
Year ended December 31 (\u20ac, in millions) | 2022 | 2023 | 2024 | |
Wages and salaries | 3,283.1 | 4,666.4 | 5,001.2 | |
Social security expenses | 300.7 | 410.5 | 468.4 | |
Pension and retirement expenses | 255.9 | 348.9 | 395.2 | |
Share-based payments | 68.9 | 134.8 | 172.6 | |
Personnel expenses | 3,908.6 | 5,560.6 | 6,037.4 |
Average number of payroll employees in FTEs | 2022 | 2023 | 2024 | |
Netherlands | 16,722 | 19,876 | 21,811 | |
Worldwide (including Netherlands) | 33,071 | 38,805 | 41,697 |
Year ended December 31 (in FTE) | 2022 | 2023 | 2024 | |
Customer Support and Sales | 9,643 | 10,790 | 10,344 | |
Manufacturing and Supply Chain Management | 9,953 | 9,954 | 11,341 | |
Strategic Supply Management | 1,541 | 2,033 | 1,965 | |
General and Administrative | 3,768 | 4,035 | 4,385 | |
Research and Development | 14,181 | 15,604 | 15,992 | |
Total | 39,086 | 42,416 | 44,027 | |
Less: Temporary employees | 2,974 | 2,107 | 1,241 | |
Payroll employees | 36,112 | 40,309 | 42,786 |
Year ended December 31 (\u20ac, in millions) | 2022 | 2023 | 2024 | |
Board of Management | 3.8 | 6.0 | 5.3 | |
Former Board of Management1 | \u2014 | \u2014 | 1.0 | |
Other employees | 410.2 | 932.0 | 816.8 | |
Total STI bonus expenses | 414.0 | 938.0 | 823.1 |
Year ended December 31 (\u20ac, in millions) | 2022 | 2023 | 2024 | |
Wages and salaries | 3,283.1 | 4,666.4 | 5,001.2 | |
Social security expenses | 300.7 | 410.5 | 468.4 | |
Pension and retirement expenses | 255.9 | 348.9 | 395.2 | |
Share-based payments | 68.9 | 134.8 | 172.6 | |
Personnel expenses | 3,908.6 | 5,560.6 | 6,037.4 |
Average number of payroll employees in FTEs | 2022 | 2023 | 2024 | |
Netherlands | 16,722 | 19,876 | 21,811 | |
Worldwide (including Netherlands) | 33,071 | 38,805 | 41,697 |
Year ended December 31 (in FTE) | 2022 | 2023 | 2024 | |
Customer Support and Sales | 9,643 | 10,790 | 10,344 | |
Manufacturing and Supply Chain Management | 9,953 | 9,954 | 11,341 | |
Strategic Supply Management | 1,541 | 2,033 | 1,965 | |
General and Administrative | 3,768 | 4,035 | 4,385 | |
Research and Development | 14,181 | 15,604 | 15,992 | |
Total | 39,086 | 42,416 | 44,027 | |
Less: Temporary employees | 2,974 | 2,107 | 1,241 | |
Payroll employees | 36,112 | 40,309 | 42,786 |
Year ended December 31 (\u20ac, in millions) | 2022 | 2023 | 2024 | |
Board of Management | 3.8 | 6.0 | 5.3 | |
Former Board of Management1 | \u2014 | \u2014 | 1.0 | |
Other employees | 410.2 | 932.0 | 816.8 | |
Total STI bonus expenses | 414.0 | 938.0 | 823.1 |
Year ended December 31 (\u20ac, in millions) | 2022 | 2023 | 2024 | |
Pension plan based on multi-employer union plan | 181.2 | 244.4 | 276.3 | |
Pension plans based on defined contribution and other plans | 74.7 | 104.5 | 118.9 | |
Pension and retirement expenses | 255.9 | 348.9 | 395.2 |
LTI performance plan criteria | Market/Non-market element | Weight |
Relative TSR | Market | 30% |
Strategic value drivers | Non-market | 30% |
Technology Leadership Index | Non-market | 20% |
ESG measures | Non-market | 20% |
Total | 100% |
Year ended December\u00a031 | 2022 | 2023 | 2024 |
Share price in \u20ac at grant date | 548.0 | 620.1 | 707.1 |
Expected volatility ASML | 41.8% | 46.2% | 40.0% |
Average volatility of the peer group (market practice) | 47.8% | 50.0% | 43.3% |
Vesting period | 2.7 years | 2.9 years | 2.9 years |
Dividend yield | 1.0% | 0.9% | 0.7% |
Risk free interest rate (Eurozone) | 0.5% | 2.4% | 2.4% |
Risk free interest rate (U.S.) | 2.8% | 3.9% | 4.2% |
Year ended December 31 (\u20ac, in millions) | 2022 | 2023 | 2024 |
Incurred expenses | 68.9 | 134.8 | 172.6 |
Expected expenses of conditionally granted plans in future periods | 113.0 | 187.2 | 246.1 |
Weighted average period for recognizing these expected expenses | 1.4 years | 1.6 years | 1.5 years |
Deferred tax asset movement (recognized as share-based payments in Equity) | (2.5) | 5.0 | 9.5 |
Recognized income tax benefit (excluding excess income tax benefits) | 10.2 | 16.3 | 28.2 |
EUR-denominated | USD-denominated | |||||||
Year ended December 31 | 2022 | 2023 | 2024 | 2022 | 2023 | 2024 | ||
Total fair value of shares vested during the year (in millions) | 120.6 | 175.5 | 161.4 | 149.6 | 127.0 | 155.2 | ||
Weighted average fair value of shares granted | 578.65 | 587.42 | 801.78 | 553.61 | 624.10 | 848.18 |
EUR-denominated | USD-denominated | |||
Number of shares | Weighted average fair\u00a0value\u00a0at grant date | Number of shares | Weighted average fair\u00a0value\u00a0at grant date | |
Conditional shares outstanding at January 1, 2024 | 275,571 | 576.37 | 363,119 | 620.31 |
Granted | 220,149 | 801.78 | 260,307 | 848.18 |
Vested | (211,517) | 671.93 | (201,411) | 678.12 |
Forfeited | (3,850) | 667.89 | (11,335) | 688.73 |
Conditional shares outstanding at December 31, 2024 | 280,353 | 680.02 | 410,680 | 734.50 |
EUR-denominated | USD-denominated | |||||||
Year ended December 31 | 2022 | 2023 | 2024 | 2022 | 2023 | 2024 | ||
Weighted average share price at stock option exercise | 494.14 | 613.03 | 834.48 | 565.39 | 678.41 | 911.23 | ||
Aggregate intrinsic value of exercised stock options (in millions) | 4.4 | 8.1 | 10.2 | 1.6 | 4.8 | 8.2 | ||
Weighted average remaining contractual term of exercisable options (in years) | 2.08 | 1.48 | 0.83 | 2.09 | 1.43 | 0.84 | ||
Aggregate intrinsic value of exercisable stock options (in millions) | 20.3 | 19.7 | 11.4 | 14.6 | 15.9 | 8.2 | ||
Aggregate intrinsic value of outstanding stock options (in millions) | 20.3 | 19.7 | 11.4 | 14.6 | 15.9 | 8.2 |
\u00a0EUR-denominated | USD-denominated | |||
Number of\u00a0options | Weighted average exercise price per ordinary share (in \u20ac) | Number of\u00a0options | Weighted average exercise price per ordinary share (in $) | |
Outstanding, January 1, 2024 | 32,839 | 82.52 | 23,962 | 94.01 |
Granted1 | \u2014 | \u2014 | \u2014 | \u2014 |
Exercised | (13,471) | 75.44 | (10,048) | 91.90 |
Forfeited | \u2014 | \u2014 | \u2014 | \u2014 |
Expired | (32) | 64.39 | (180) | 92.23 |
Outstanding, December 31, 2024 | 19,336 | 87.48 | 13,734 | 95.58 |
Exercisable, December 31, 2024 | 19,336 | 87.48 | 13,734 | 95.58 |
EUR-denominated | USD-denominated | ||||
Range of exercise prices (in \u20ac) | Number of outstanding options | Weighted average remaining contractual\u00a0life of outstanding\u00a0(years) | Range of exercise prices (in $) | Number of outstanding options | Weighted average remaining contractual\u00a0life of outstanding\u00a0(years) |
70\u201380 | 3,864 | 0.79 | 70\u201380 | \u2014 | 0.00 |
80\u201390 | 7,761 | 0.89 | 80\u201390 | 2,843 | 0.79 |
90\u2013100 | 7,711 | 0.79 | 90\u2013100 | 6,382 | 0.84 |
100\u2013110 | \u2014 | 0.00 | 100\u2013110 | 4,509 | 0.87 |
Total | 19,336 | 0.83 | Total | 13,734 | 0.84 |
Year ended December 31 (\u20ac, in millions) | 2022 | 2023 | 2024 | |
Current tax | (1,757.6) | (1,463.3) | (1,758.8) | |
Deferred tax | 739.0 | (165.9) | (58.9) | |
Income tax (expense) / benefit | (1,018.6) | (1,629.2) | (1,817.7) |
Year ended December 31 (\u20ac, in millions) | 2022 | 2023 | 2024 | |
Current year tax (expense) / benefit | (1,701.8) | (1,576.4) | (1,547.7) | |
Prior year tax (expense) / benefit | (55.8) | 113.1 | (211.1) | |
Current tax (expense) / benefit | (1,757.6) | (1,463.3) | (1,758.8) |
Year ended December 31 (\u20ac, in millions) | 2022 | 2023 | 2024 | |
Changes to recognition of tax losses and tax credits | (41.2) | 3.0 | (24.9) | |
Prior year tax (expense) / benefit | 79.2 | (85.2) | 93.1 | |
Tax rate changes | (1.1) | 2.8 | \u2014 | |
Origination and reversal of temporary differences, tax losses and tax credits | 702.1 | (86.5) | (127.1) | |
Deferred tax (expense) / benefit | 739.0 | (165.9) | (58.9) |
Year ended December 31 (\u20ac, in millions)3 | 2024 |
Top-up tax expense based on local QDMTT1 | (0.3) |
Top-up tax expense based on IIR2 | (2.2) |
Global Minimum Tax Total | (2.5) |
Year ended December 31 (\u20ac, in millions) | 2022 | %1 | 2023 | %1 | 2024 | %1 | |
Income before income taxes | 7,276.4 | 100.0% | 9,553.1 | 100.0% | 9,956.9 | 100.0% | |
Income tax expense based on ASML\u2019s domestic rate | (1,877.3) | 25.8% | (2,464.7) | 25.8% | (2,568.9) | 25.8% | |
Effects of tax rates in foreign jurisdictions | 28.4 | -0.4% | 5.3 | -0.1% | 31.4 | -0.3% | |
Adjustments in respect of tax exempt income | \u2014 | 0.0% | 1.4 | 0.0% | 0.9 | 0.0% | |
Adjustments in respect of tax incentives | 792.1 | -10.9% | 995.7 | -10.4% | 892.5 | -9.0% | |
Adjustments in respect of prior years\u2019 current taxes | (55.8) | 0.8% | 113.1 | -1.2% | (211.2) | 2.1% | |
Adjustments in respect of prior years\u2019 deferred taxes | 79.2 | -1.1% | (85.2) | 0.9% | 93.1 | -0.9% | |
Movements in the liability for uncertain tax positions | (16.1) | 0.2% | (62.9) | 0.7% | (35.4) | 0.4% | |
Global Minimum Tax | \u2014 | 0.0% | \u2014 | 0.0% | (2.5) | 0.0% | |
Change in unrecognized deferred tax assets | (41.2) | 0.6% | 3.0 | 0.0% | (24.9) | 0.3% | |
Investments in associates | (38.3) | 0.6% | (42.6) | 0.5% | (41.6) | 0.5% | |
Effect of change in tax rates | (1.1) | 0.0% | 2.8 | 0.0% | \u2014 | 0.0% | |
Other (credits) and non-taxable items | 111.5 | -1.5% | (95.1) | 1.0% | 48.9 | -0.5% | |
Income tax expense | (1,018.6) | 14.0% | (1,629.2) | 17.1% | (1,817.7) | 18.3% |
Year ended December 31 (\u20ac, in millions) | 2022 | 2023 | 2024 | |
Liability for uncertain tax positions | (225.8) | (267.9) | (240.2) | |
Deferred tax assets | 2,188.9 | 2,104.8 | 2,168.6 | |
Deferred tax liabilities | (312.6) | (469.4) | (492.7) | |
Deferred and other tax assets (liabilities) | 1,650.5 | 1,367.5 | 1,435.7 |
Year ended December 31 (\u20ac, in millions) | 2022 | 2023 | 2024 | |
Balance, January | (143.0) | (163.0) | (202.4) | |
Gross increases \u2013 tax positions in prior period | (12.1) | (41.8) | (31.8) | |
Gross decreases \u2013 tax positions in prior period | 0.6 | 11.4 | 27.4 | |
Gross increases \u2013 tax positions in current period | (24.9) | (29.0) | (67.7) | |
Settlements | 6.8 | 2.2 | 69.9 | |
Lapse of statute of limitations | 13.2 | 23.6 | 6.5 | |
Effect of changes in exchange rates | (3.6) | (5.8) | (2.0) | |
Total liability for uncertain tax positions | (163.0) | (202.4) | (200.1) | |
Balance of accrued interest and penalties | (62.8) | (65.5) | (40.1) | |
Total liabilities for uncertain tax positions including interest and penalties | (225.8) | (267.9) | (240.2) |
Country | Years |
Netherlands | 2021 \u2013 2024 |
US | 2018 \u2013 2024 |
Taiwan | 2019 \u2013 2024 |
South Korea | 2019 \u2013 2024 |
China | 2014 \u2013 2024 |
Deferred taxes (\u20ac, in millions) | January 1, 2024 | Other | Consolidated Statement of Profit or Loss | Equity | Effect of changes in exchange rates | December 31, 2024 | |
Deferred tax assets: | |||||||
Unrealized profits resulting from intercompany transactions | 450.1 | \u2014 | 45.4 | \u2014 | 9.4 | 504.9 | |
Capitalized R&D costs | 285.9 | \u2014 | (129.5) | \u2014 | 36.6 | 193.0 | |
Goodwill | 65.0 | \u2014 | 14.8 | \u2014 | \u2014 | 79.8 | |
R&D and other tax credit carry forwards | 217.8 | (9.7) | 45.4 | \u2014 | 13.1 | 266.6 | |
Inventories | 61.4 | \u2014 | 31.6 | \u2014 | 2.5 | 95.5 | |
Contract liabilities | 959.8 | \u2014 | 39.9 | \u2014 | 46.3 | 1,046.0 | |
Accrued and other liabilities | 139.7 | \u2014 | (6.6) | \u2014 | 2.6 | 135.7 | |
Operating loss carry forwards | 3.9 | \u2014 | (2.8) | \u2014 | \u2014 | 1.1 | |
Property, plant and equipment | 29.2 | \u2014 | (16.2) | \u2014 | (1.6) | 11.4 | |
Lease liabilities | 28.7 | \u2014 | (5.0) | \u2014 | 1.7 | 25.4 | |
Other intangible assets | 119.3 | \u2014 | (12.3) | \u2014 | \u2014 | 107.0 | |
Share-based payments | 26.7 | \u2014 | (0.3) | 9.5 | 6.3 | 42.2 | |
Other temporary differences | 22.9 | \u2014 | 4.9 | 3.7 | (6.5) | 25.0 | |
Total deferred tax assets, gross | 2,410.4 | (9.7) | 9.3 | 13.2 | 110.4 | 2,533.6 | |
Unrecognized deferred tax assets1 | (206.7) | \u2014 | (24.9) | \u2014 | (11.0) | (242.6) | |
Total deferred tax assets, net | 2,203.7 | (9.7) | (15.6) | 13.2 | 99.4 | 2,291.0 | |
Deferred tax liabilities: | |||||||
Capitalized R&D expenditures | (345.8) | \u2014 | (100.6) | \u2014 | \u2014 | (446.4) | |
Other intangible assets | (52.0) | \u2014 | 9.4 | \u2014 | (3.4) | (46.0) | |
Goodwill | (38.5) | \u2014 | (7.2) | \u2014 | \u2014 | (45.7) | |
Inventories | (3.8) | \u2014 | 3.7 | \u2014 | 0.1 | \u2014 | |
Right-of-use assets | (28.7) | \u2014 | 5.0 | \u2014 | (1.7) | (25.4) | |
Property, plant and equipment | (13.6) | \u2014 | (22.7) | \u2014 | 0.2 | (36.1) | |
Accrued and other liabilities | (0.5) | \u2014 | 0.2 | \u2014 | \u2014 | (0.3) | |
Contract liabilities | (80.0) | \u2014 | 80.0 | \u2014 | \u2014 | \u2014 | |
Long-term debt | (1.6) | \u2014 | 0.3 | \u2014 | \u2014 | (1.3) | |
Other temporary differences | (3.8) | \u2014 | (11.4) | \u2014 | 1.3 | (13.9) | |
Total deferred tax liabilities | (568.3) | \u2014 | (43.3) | \u2014 | (3.5) | (615.1) | |
Net deferred tax assets (liabilities) | 1,635.4 | (9.7) | (58.9) | 13.2 | 95.9 | 1,675.9 | |
Classified as: | |||||||
Deferred tax assets \u2013 non-current | 2,104.8 | 2,168.6 | |||||
Deferred tax liabilities \u2013 non-current | (469.4) | (492.7) | |||||
Net deferred tax assets (liabilities) | 1,635.4 | 1,675.9 |
Deferred taxes (\u20ac, in millions) | January 1, 2023 | Other | Consolidated Statement of Profit or Loss | Equity | Effect of changes in exchange rates | December 31, 2023 | |
Deferred tax assets: | |||||||
Unrealized profits resulting from intercompany transactions | 730.8 | \u2014 | (291.5) | \u2014 | 10.8 | 450.1 | |
Capitalized R&D costs | 416.5 | \u2014 | (104.7) | \u2014 | (25.9) | 285.9 | |
Goodwill | \u2014 | \u2014 | 65.0 | \u2014 | \u2014 | 65.0 | 65.0 |
R&D and other tax credit carry forwards | 213.4 | (28.1) | 39.5 | \u2014 | (7.0) | 217.8 | |
Inventories | 45.2 | \u2014 | 17.6 | \u2014 | (1.4) | 61.4 | |
Contract liabilities | 820.8 | \u2014 | 174.4 | \u2014 | (35.4) | 959.8 | |
Accrued and other liabilities | 78.2 | \u2014 | 66.3 | \u2014 | (4.8) | 139.7 | |
Operating loss carry forwards | 4.5 | \u2014 | 0.2 | \u2014 | (0.8) | 3.9 | |
Property, plant and equipment | 19.0 | \u2014 | 10.7 | \u2014 | (0.5) | 29.2 | |
Lease liabilities | 27.4 | \u2014 | 2.3 | \u2014 | (1.0) | 28.7 | |
Other intangible assets | 124.8 | \u2014 | (5.5) | \u2014 | \u2014 | 119.3 | |
Share-based payments | 16.2 | \u2014 | 6.0 | 5.0 | (0.5) | 26.7 | |
Other temporary differences | 23.5 | \u2014 | (6.6) | \u2014 | 6.0 | 22.9 | |
Total deferred tax assets, gross | 2,520.3 | (28.1) | (26.3) | 5.0 | (60.5) | 2,410.4 | |
Unrecognized deferred tax assets1 | (215.4) | \u2014 | 3.0 | \u2014 | 5.7 | (206.7) | |
Total deferred tax assets, net | 2,304.9 | (28.1) | (23.3) | 5.0 | (54.8) | 2,203.7 | |
Deferred tax liabilities: | |||||||
Capitalized R&D expenditures | (260.8) | \u2014 | (85.0) | \u2014 | \u2014 | (345.8) | |
Other intangible assets | (65.4) | \u2014 | 10.9 | \u2014 | 2.5 | (52.0) | |
Goodwill | (28.8) | \u2014 | (9.7) | \u2014 | \u2014 | (38.5) | |
Inventories | \u2014 | \u2014 | (4.1) | \u2014 | 0.3 | (3.8) | |
Right-of-use assets | (27.4) | \u2014 | (2.3) | \u2014 | 1.0 | (28.7) | |
Property, plant and equipment | (9.8) | \u2014 | (5.1) | \u2014 | 1.3 | (13.6) | |
Accrued and other liabilities | \u2014 | \u2014 | (0.5) | \u2014 | \u2014 | (0.5) | |
Contract liabilities | (16.3) | \u2014 | (64.2) | \u2014 | 0.5 | (80.0) | |
Long-term debt | (1.5) | \u2014 | (0.1) | \u2014 | \u2014 | (1.6) | |
Other temporary differences | (18.6) | \u2014 | 17.6 | \u2014 | (2.8) | (3.8) | |
Total deferred tax liabilities | (428.6) | \u2014 | (142.5) | \u2014 | 2.8 | (568.3) | |
Net deferred tax assets (liabilities) | 1,876.3 | (28.1) | (165.8) | 5.0 | (52.0) | 1,635.4 | |
Classified as: | |||||||
Deferred tax assets \u2013 non-current | 2,188.9 | 2,104.8 | |||||
Deferred tax liabilities \u2013 non-current | (312.6) | (469.4) | |||||
Net deferred tax assets (liabilities) | 1,876.3 | 1,635.4 |
Deferred taxes (\u20ac, in millions) | January 1, 2024 | Other | Consolidated Statement of Profit or Loss | Equity | Effect of changes in exchange rates | December 31, 2024 | |
Deferred tax assets: | |||||||
Unrealized profits resulting from intercompany transactions | 450.1 | \u2014 | 45.4 | \u2014 | 9.4 | 504.9 | |
Capitalized R&D costs | 285.9 | \u2014 | (129.5) | \u2014 | 36.6 | 193.0 | |
Goodwill | 65.0 | \u2014 | 14.8 | \u2014 | \u2014 | 79.8 | |
R&D and other tax credit carry forwards | 217.8 | (9.7) | 45.4 | \u2014 | 13.1 | 266.6 | |
Inventories | 61.4 | \u2014 | 31.6 | \u2014 | 2.5 | 95.5 | |
Contract liabilities | 959.8 | \u2014 | 39.9 | \u2014 | 46.3 | 1,046.0 | |
Accrued and other liabilities | 139.7 | \u2014 | (6.6) | \u2014 | 2.6 | 135.7 | |
Operating loss carry forwards | 3.9 | \u2014 | (2.8) | \u2014 | \u2014 | 1.1 | |
Property, plant and equipment | 29.2 | \u2014 | (16.2) | \u2014 | (1.6) | 11.4 | |
Lease liabilities | 28.7 | \u2014 | (5.0) | \u2014 | 1.7 | 25.4 | |
Other intangible assets | 119.3 | \u2014 | (12.3) | \u2014 | \u2014 | 107.0 | |
Share-based payments | 26.7 | \u2014 | (0.3) | 9.5 | 6.3 | 42.2 | |
Other temporary differences | 22.9 | \u2014 | 4.9 | 3.7 | (6.5) | 25.0 | |
Total deferred tax assets, gross | 2,410.4 | (9.7) | 9.3 | 13.2 | 110.4 | 2,533.6 | |
Unrecognized deferred tax assets1 | (206.7) | \u2014 | (24.9) | \u2014 | (11.0) | (242.6) | |
Total deferred tax assets, net | 2,203.7 | (9.7) | (15.6) | 13.2 | 99.4 | 2,291.0 | |
Deferred tax liabilities: | |||||||
Capitalized R&D expenditures | (345.8) | \u2014 | (100.6) | \u2014 | \u2014 | (446.4) | |
Other intangible assets | (52.0) | \u2014 | 9.4 | \u2014 | (3.4) | (46.0) | |
Goodwill | (38.5) | \u2014 | (7.2) | \u2014 | \u2014 | (45.7) | |
Inventories | (3.8) | \u2014 | 3.7 | \u2014 | 0.1 | \u2014 | |
Right-of-use assets | (28.7) | \u2014 | 5.0 | \u2014 | (1.7) | (25.4) | |
Property, plant and equipment | (13.6) | \u2014 | (22.7) | \u2014 | 0.2 | (36.1) | |
Accrued and other liabilities | (0.5) | \u2014 | 0.2 | \u2014 | \u2014 | (0.3) | |
Contract liabilities | (80.0) | \u2014 | 80.0 | \u2014 | \u2014 | \u2014 | |
Long-term debt | (1.6) | \u2014 | 0.3 | \u2014 | \u2014 | (1.3) | |
Other temporary differences | (3.8) | \u2014 | (11.4) | \u2014 | 1.3 | (13.9) | |
Total deferred tax liabilities | (568.3) | \u2014 | (43.3) | \u2014 | (3.5) | (615.1) | |
Net deferred tax assets (liabilities) | 1,635.4 | (9.7) | (58.9) | 13.2 | 95.9 | 1,675.9 | |
Classified as: | |||||||
Deferred tax assets \u2013 non-current | 2,104.8 | 2,168.6 | |||||
Deferred tax liabilities \u2013 non-current | (469.4) | (492.7) | |||||
Net deferred tax assets (liabilities) | 1,635.4 | 1,675.9 |
Deferred taxes (\u20ac, in millions) | January 1, 2023 | Other | Consolidated Statement of Profit or Loss | Equity | Effect of changes in exchange rates | December 31, 2023 | |
Deferred tax assets: | |||||||
Unrealized profits resulting from intercompany transactions | 730.8 | \u2014 | (291.5) | \u2014 | 10.8 | 450.1 | |
Capitalized R&D costs | 416.5 | \u2014 | (104.7) | \u2014 | (25.9) | 285.9 | |
Goodwill | \u2014 | \u2014 | 65.0 | \u2014 | \u2014 | 65.0 | 65.0 |
R&D and other tax credit carry forwards | 213.4 | (28.1) | 39.5 | \u2014 | (7.0) | 217.8 | |
Inventories | 45.2 | \u2014 | 17.6 | \u2014 | (1.4) | 61.4 | |
Contract liabilities | 820.8 | \u2014 | 174.4 | \u2014 | (35.4) | 959.8 | |
Accrued and other liabilities | 78.2 | \u2014 | 66.3 | \u2014 | (4.8) | 139.7 | |
Operating loss carry forwards | 4.5 | \u2014 | 0.2 | \u2014 | (0.8) | 3.9 | |
Property, plant and equipment | 19.0 | \u2014 | 10.7 | \u2014 | (0.5) | 29.2 | |
Lease liabilities | 27.4 | \u2014 | 2.3 | \u2014 | (1.0) | 28.7 | |
Other intangible assets | 124.8 | \u2014 | (5.5) | \u2014 | \u2014 | 119.3 | |
Share-based payments | 16.2 | \u2014 | 6.0 | 5.0 | (0.5) | 26.7 | |
Other temporary differences | 23.5 | \u2014 | (6.6) | \u2014 | 6.0 | 22.9 | |
Total deferred tax assets, gross | 2,520.3 | (28.1) | (26.3) | 5.0 | (60.5) | 2,410.4 | |
Unrecognized deferred tax assets1 | (215.4) | \u2014 | 3.0 | \u2014 | 5.7 | (206.7) | |
Total deferred tax assets, net | 2,304.9 | (28.1) | (23.3) | 5.0 | (54.8) | 2,203.7 | |
Deferred tax liabilities: | |||||||
Capitalized R&D expenditures | (260.8) | \u2014 | (85.0) | \u2014 | \u2014 | (345.8) | |
Other intangible assets | (65.4) | \u2014 | 10.9 | \u2014 | 2.5 | (52.0) | |
Goodwill | (28.8) | \u2014 | (9.7) | \u2014 | \u2014 | (38.5) | |
Inventories | \u2014 | \u2014 | (4.1) | \u2014 | 0.3 | (3.8) | |
Right-of-use assets | (27.4) | \u2014 | (2.3) | \u2014 | 1.0 | (28.7) | |
Property, plant and equipment | (9.8) | \u2014 | (5.1) | \u2014 | 1.3 | (13.6) | |
Accrued and other liabilities | \u2014 | \u2014 | (0.5) | \u2014 | \u2014 | (0.5) | |
Contract liabilities | (16.3) | \u2014 | (64.2) | \u2014 | 0.5 | (80.0) | |
Long-term debt | (1.5) | \u2014 | (0.1) | \u2014 | \u2014 | (1.6) | |
Other temporary differences | (18.6) | \u2014 | 17.6 | \u2014 | (2.8) | (3.8) | |
Total deferred tax liabilities | (428.6) | \u2014 | (142.5) | \u2014 | 2.8 | (568.3) | |
Net deferred tax assets (liabilities) | 1,876.3 | (28.1) | (165.8) | 5.0 | (52.0) | 1,635.4 | |
Classified as: | |||||||
Deferred tax assets \u2013 non-current | 2,188.9 | 2,104.8 | |||||
Deferred tax liabilities \u2013 non-current | (312.6) | (469.4) | |||||
Net deferred tax assets (liabilities) | 1,876.3 | 1,635.4 |
Type of shares | Number of shares | Nominal value | Votes per share |
Cumulative preference shares | 700,000,000 | \u20ac0.09 per share | 1 |
Ordinary shares | 700,000,000 | \u20ac0.09 per share | 1 |
Year ended December 31 | 2022 | 2023 | 2024 | |
Issued ordinary shares with nominal value of \u20ac0.09 | 394,589,411 | 393,421,721 | 393,283,720 | |
Issued ordinary treasury shares with nominal value of \u20ac0.09 | 8,548,631 | 6,162,857 | 546,972 | |
Total issued ordinary shares with nominal value of \u20ac0.09 | 403,138,042 | 399,584,578 | 393,830,692 |
(\u20ac, in millions) | Hedging reserve | Currency translation reserve | Reserve for capitalized development expenditures | Share of OCI from associate | Total | |
Balance at January 1, 2023 | 7.6 | 218.0 | 2,503.3 | 32.8 | 2,761.7 | |
Components of statement of comprehensive income: | ||||||
Share of OCI from associate | \u2014 | \u2014 | \u2014 | 0.2 | 0.2 | |
Foreign currency translation | \u2014 | (67.6) | \u2014 | \u2014 | (67.6) | |
Financial instruments, net of taxes: | ||||||
Gain (Loss) on derivative financial instruments | (15.8) | \u2014 | \u2014 | \u2014 | (15.8) | |
Transfers to net income | 0.6 | \u2014 | \u2014 | \u2014 | 0.6 | |
Development expenditures | \u2014 | \u2014 | 689.1 | \u2014 | 689.1 | |
Currency translation on development expenditures | \u2014 | 0.9 | (0.9) | \u2014 | \u2014 | |
Balance at December 31, 2023 | (7.6) | 151.3 | 3,191.5 | 33.0 | 3,368.2 | |
Components of statement of comprehensive income: | ||||||
Share of OCI from associate | \u2014 | \u2014 | \u2014 | (12.1) | (12.1) | |
Foreign currency translation | \u2014 | 93.0 | \u2014 | \u2014 | 93.0 | |
Financial instruments, net of taxes: | ||||||
Gain (loss) on derivative financial instruments | 38.2 | \u2014 | \u2014 | \u2014 | 38.2 | |
Transfers to net income | (8.9) | \u2014 | \u2014 | \u2014 | (8.9) | |
Development expenditures | \u2014 | \u2014 | 914.6 | \u2014 | 914.6 | |
Currency translation on development expenditures | \u2014 | (1.5) | 1.5 | \u2014 | \u2014 | |
Balance at December 31, 2024 | 21.7 | 242.8 | 4,107.6 | 20.9 | 4,393.0 |
Period | Total number of\u00a0shares purchased | Average price\u00a0paid per Share (\u20ac) | Total\u00a0number of shares purchased\u00a0under programs | Maximum value of\u00a0shares that\u00a0may\u00a0yet be\u00a0purchased (\u20ac millions) |
January 1 \u2013 31, 2024 | 54,938 | 797.29 | 54,938 | 10,756.2 |
February 1 \u2013 29, 2024 | 217,359 | 849.36 | 272,297 | 10,571.6 |
March 1 \u2013 31, 2024 | 196,519 | 892.93 | 468,816 | 10,396.1 |
April 1 \u2013 30, 2024 | 106,109 | 905.71 | 574,925 | 10,300.0 |
May 1 \u2013 31, 2024 | \u2014 | \u2014 | 574,925 | 10,300.0 |
June 1 \u2013 30, 2024 | \u2014 | \u2014 | 574,925 | 10,300.0 |
July 1 \u2013 31, 2024 | \u2014 | \u2014 | 574,925 | 10,300.0 |
August 1 \u2013 31, 2024 | \u2014 | \u2014 | 574,925 | 10,300.0 |
September 1 \u2013 30, 2024 | \u2014 | \u2014 | 574,925 | 10,300.0 |
October 1 \u2013 31, 2024 | \u2014 | \u2014 | 574,925 | 10,300.0 |
November 1 \u2013 30, 2024 | \u2014 | \u2014 | 574,925 | 10,300.0 |
December 1 \u2013 31, 2024 | \u2014 | \u2014 | 574,925 | 10,300.0 |
Total | 574,925 | 869.68 |
Year ended December 31 (\u20ac, in millions, except per share data) | 2022 | 2023 | 2024 | |
Net income | 6,395.8 | 8,115.2 | 8,349.0 | |
Weighted average number of shares outstanding | 397.6 | 393.8 | 393.3 | |
Basic net income per ordinary share | 16.08 | 20.61 | 21.23 | |
Weighted average number of shares outstanding | 397.7 | 393.8 | 393.3 | |
Plus shares applicable to options and conditional shares | 0.3 | 0.3 | 0.3 | |
Diluted weighted average number of shares | 398.0 | 394.1 | 393.6 | |
Diluted net income per ordinary share | 16.07 | 20.59 | 21.21 |
Year ended December 31 (\u20ac, in millions) | 2023 | 2024 | |||
Impact\u00a0on net income | Impact\u00a0on equity | Impact\u00a0on net income | Impact\u00a0on equity | ||
US dollar | 4.2 | 78.3 | 10.3 | 81.3 | |
Japanese yen | (2.6) | (3.8) | (30.4) | (0.4) | |
Taiwanese dollar | 0.4 | \u2014 | (7.9) | \u2014 | |
Other currencies | (10.0) | \u2014 | (10.5) | \u2014 | |
Total | (8.0) | 74.5 | (38.5) | 80.9 |
Year ended December 31 (in billions) | 2023 | 2024 | |
US dollar (USD) | 0.8 | 1.0 | |
Japanese yen (JPY) | 8.5 | 1.1 | |
Taiwanese dollar (TWD) | 26.4 | 27.6 | |
South Korean won (KRW) | 61.8 | 66.4 | |
Chinese yuan (CNY) | 1.1 | 1.1 |
Year ended December 31 (\u20ac, in millions) | 2022 | 2023 | 2024 | |
Purchase transactions | 5.5 | (8.9) | 25.6 | |
Net of taxes | 4.7 | (7.6) | 21.7 | |
Sales transactions | 3.4 | \u2014 | \u2014 | |
Net of taxes | 2.9 | \u2014 | \u2014 |
Year ended December 31 (\u20ac, in millions) | 2023 | 2024 | |||
Impact\u00a0on net income | Impact\u00a0on equity | Impact\u00a0on net income | Impact\u00a0on equity | ||
Effect of a 1.0% increase in interest rates | 37.6 | \u2014 | 94.9 | \u2014 |
Total | < 1 year | 1-3 years | 3-5 years | After 5 years | |
Cash outflows | |||||
Currency contracts | 3,984.7 | 3,984.7 | \u2014 | \u2014 | \u2014 |
Interest rate swaps | 240.8 | 103.2 | 81.0 | 25.2 | 31.4 |
Cash inflows | |||||
Currency contracts | 4,029.2 | 4,029.2 | \u2014 | \u2014 | \u2014 |
Interest rate swaps | 179.2 | 71.0 | 58.3 | 20.7 | 29.2 |
Carrying amount of liabilities part of the arrangement (Year ended December 31 (\u20ac, in billions)) | 2024 |
Presented in 'trade and other payables' | 0.3 |
of which suppliers have been paid by finance providers | 0.3 |
Days after invoice date | |
Range of payment due dates | Year-end 2024 |
Liabilities that are part of the arrangement | 14-90 |
Comparable trade payables that are not part of an arrangement | 0-90 |
Year ended December 31, 2024 (\u20ac, in millions) | Financial assets at fair value through profit or loss | Financial assets at amortized cost | Total | |
Assets as per statement of financial position date | ||||
Derivative financial instruments | 96.5 | \u2014 | 96.5 | |
Contract assets | \u2014 | 320.6 | 320.6 | |
Accounts receivable | \u2014 | 4,477.5 | 4,477.5 | |
Finance receivables | \u2014 | 399.8 | 399.8 | |
Other non-current and current assets | \u2014 | 2,254.4 | 2,254.4 | |
Short-term investments | 5.4 | \u2014 | 5.4 | |
Cash and cash equivalents | 6,379.2 | 6,356.7 | 12,735.9 | |
Loan receivable | \u2014 | 1,456.7 | 1,456.7 | |
Total | 6,481.1 | 15,265.7 | 21,746.8 |
Year ended December 31, 2023 (\u20ac, in millions) | Financial assets at fair value through profit or loss | Financial assets at amortized cost | Total | |
Assets as per statement of financial position date | ||||
Derivative financial instruments | 31.1 | \u2014 | 31.1 | |
Contract assets | \u2014 | 240.1 | 240.1 | |
Accounts receivable | \u2014 | 4,334.1 | 4,334.1 | |
Finance receivables | \u2014 | 1,439.8 | 1,439.8 | |
Other non-current and current assets | \u2014 | 1,874.8 | 1,874.8 | |
Short-term investments | 5.4 | \u2014 | 5.4 | |
Cash and cash equivalents | 3,167.4 | 3,837.3 | 7,004.7 | |
Loan receivable | \u2014 | 929.2 | 929.2 | |
Total | 3,203.9 | 12,655.3 | 15,859.2 |
Year ended December 31, 2024 (\u20ac, in millions) | Financial liabilities at fair value through profit or loss | Other financial liabilities | Total | |
Liabilities as per statement of financial position date | ||||
Long-term debt1 | \u2014 | 4,687.6 | 4,687.6 | |
Derivative financial instruments | 113.6 | \u2014 | 113.6 | |
Accrued and other liabilities | \u2014 | 3,032.5 | 3,032.5 | |
Accounts payable | \u2014 | 3,498.5 | 3,498.5 | |
Total | 113.6 | 11,218.6 | 11,332.2 |
Year ended December 31, 2023 (\u20ac, in millions) | Financial liabilities at fair value through profit or loss | Other financial liabilities | Total | |
Liabilities as per statement of financial position date | ||||
Long-term debt1 | \u2014 | 4,631.6 | 4,631.6 | |
Derivative financial instruments | 156.7 | \u2014 | 156.7 | |
Accrued and other liabilities | \u2014 | 2,421.8 | 2,421.8 | |
Accounts payable | \u2014 | 2,346.3 | 2,346.3 | |
Total | 156.7 | 9,399.7 | 9,556.4 |
Year ended December 31 (\u20ac, in millions) | 2023 | 2024 | |||
Notional amount | Fair\u00a0value | Notional amount | Fair\u00a0value | ||
Forward foreign exchange contracts | 281.1 | (6.8) | 240.6 | 44.5 | |
Interest rate swaps | 3,250.0 | (118.8) | 3,250.0 | (61.6) |
Year ended December 31 (\u20ac, in millions) | 2023 | 2024 | |||
Assets | Liabilities | Assets | Liabilities | ||
Interest rate swaps \u2013 fair value hedges | 11.3 | 130.1 | 9.3 | 70.9 | |
Forward foreign exchange contracts \u2013 cash flow hedges | 2.9 | 10.4 | 31.5 | 0.1 | |
Forward foreign exchange contracts \u2013 no hedge accounting | 16.9 | 16.2 | 55.7 | 42.6 | |
Total | 31.1 | 156.7 | 96.5 | 113.6 | |
Less non-current portion: | |||||
Interest rate swaps \u2014 fair value hedges | 11.3 | 62.7 | 29.3 | ||
Total non-current portion | 11.3 | 62.7 | \u2014 | 29.3 | |
Total current portion | 19.8 | 94.0 | 96.5 | 84.3 |
Year ended December 31, 2024 (\u20ac, in millions) | Level 1 | Level 2 | Level 3 | Total | |
Assets measured at fair value | |||||
Derivative financial instruments1 | \u2014 | 96.5 | \u2014 | 96.5 | |
Money market funds2 | 6,379.2 | \u2014 | \u2014 | 6,379.2 | |
Short-term investments3 | \u2014 | 5.4 | \u2014 | 5.4 | |
Total | 6,379.2 | 101.9 | \u2014 | 6,481.1 | |
Liabilities measured at fair value | |||||
Derivative financial instruments1 | \u2014 | 113.6 | \u2014 | 113.6 | |
Assets and Liabilities for which fair values are disclosed | |||||
Loan receivable | \u2014 | \u2014 | 1,339.4 | 1,339.4 | |
Long-term debt4 | 4,561.8 | \u2014 | \u2014 | 4,561.8 |
Year ended December 31, 2023 (\u20ac, in millions) | Level 1 | Level 2 | Level 3 | Total | |
Assets measured at fair value | |||||
Derivative financial instruments1 | \u2014 | 31.1 | \u2014 | 31.1 | |
Money market funds2 | 3,167.4 | \u2014 | \u2014 | 3,167.4 | |
Short-term investments3 | \u2014 | 5.4 | \u2014 | 5.4 | |
Total | 3,167.4 | 36.5 | \u2014 | 3,203.9 | |
Liabilities measured at fair value | |||||
Derivative financial instruments1 | \u2014 | 156.7 | \u2014 | 156.7 | |
Assets and Liabilities for which fair values are disclosed | |||||
Loan receivable | \u2014 | \u2014 | 776.1 | 776.1 | |
Long-term debt4\u00a0 | 4,496.2 | \u2014 | \u2014 | 4,496.2 |
Total | < 1 year | 1-3 years | 3-5 years | After 5 years | |
Cash outflows | |||||
Currency contracts | 3,984.7 | 3,984.7 | \u2014 | \u2014 | \u2014 |
Interest rate swaps | 240.8 | 103.2 | 81.0 | 25.2 | 31.4 |
Cash inflows | |||||
Currency contracts | 4,029.2 | 4,029.2 | \u2014 | \u2014 | \u2014 |
Interest rate swaps | 179.2 | 71.0 | 58.3 | 20.7 | 29.2 |
Year ended December 31, 2024 (\u20ac, in millions) | Financial assets at fair value through profit or loss | Financial assets at amortized cost | Total | |
Assets as per statement of financial position date | ||||
Derivative financial instruments | 96.5 | \u2014 | 96.5 | |
Contract assets | \u2014 | 320.6 | 320.6 | |
Accounts receivable | \u2014 | 4,477.5 | 4,477.5 | |
Finance receivables | \u2014 | 399.8 | 399.8 | |
Other non-current and current assets | \u2014 | 2,254.4 | 2,254.4 | |
Short-term investments | 5.4 | \u2014 | 5.4 | |
Cash and cash equivalents | 6,379.2 | 6,356.7 | 12,735.9 | |
Loan receivable | \u2014 | 1,456.7 | 1,456.7 | |
Total | 6,481.1 | 15,265.7 | 21,746.8 |
Year ended December 31, 2023 (\u20ac, in millions) | Financial assets at fair value through profit or loss | Financial assets at amortized cost | Total | |
Assets as per statement of financial position date | ||||
Derivative financial instruments | 31.1 | \u2014 | 31.1 | |
Contract assets | \u2014 | 240.1 | 240.1 | |
Accounts receivable | \u2014 | 4,334.1 | 4,334.1 | |
Finance receivables | \u2014 | 1,439.8 | 1,439.8 | |
Other non-current and current assets | \u2014 | 1,874.8 | 1,874.8 | |
Short-term investments | 5.4 | \u2014 | 5.4 | |
Cash and cash equivalents | 3,167.4 | 3,837.3 | 7,004.7 | |
Loan receivable | \u2014 | 929.2 | 929.2 | |
Total | 3,203.9 | 12,655.3 | 15,859.2 |
Year ended December 31, 2024 (\u20ac, in millions) | Financial liabilities at fair value through profit or loss | Other financial liabilities | Total | |
Liabilities as per statement of financial position date | ||||
Long-term debt1 | \u2014 | 4,687.6 | 4,687.6 | |
Derivative financial instruments | 113.6 | \u2014 | 113.6 | |
Accrued and other liabilities | \u2014 | 3,032.5 | 3,032.5 | |
Accounts payable | \u2014 | 3,498.5 | 3,498.5 | |
Total | 113.6 | 11,218.6 | 11,332.2 |
Year ended December 31, 2023 (\u20ac, in millions) | Financial liabilities at fair value through profit or loss | Other financial liabilities | Total | |
Liabilities as per statement of financial position date | ||||
Long-term debt1 | \u2014 | 4,631.6 | 4,631.6 | |
Derivative financial instruments | 156.7 | \u2014 | 156.7 | |
Accrued and other liabilities | \u2014 | 2,421.8 | 2,421.8 | |
Accounts payable | \u2014 | 2,346.3 | 2,346.3 | |
Total | 156.7 | 9,399.7 | 9,556.4 |
Year ended December 31 (\u20ac, in millions) | 2023 | 2024 | |||
Notional amount | Fair\u00a0value | Notional amount | Fair\u00a0value | ||
Forward foreign exchange contracts | 281.1 | (6.8) | 240.6 | 44.5 | |
Interest rate swaps | 3,250.0 | (118.8) | 3,250.0 | (61.6) |
Year ended December 31 (\u20ac, in millions) | 2023 | 2024 | |||
Assets | Liabilities | Assets | Liabilities | ||
Interest rate swaps \u2013 fair value hedges | 11.3 | 130.1 | 9.3 | 70.9 | |
Forward foreign exchange contracts \u2013 cash flow hedges | 2.9 | 10.4 | 31.5 | 0.1 | |
Forward foreign exchange contracts \u2013 no hedge accounting | 16.9 | 16.2 | 55.7 | 42.6 | |
Total | 31.1 | 156.7 | 96.5 | 113.6 | |
Less non-current portion: | |||||
Interest rate swaps \u2014 fair value hedges | 11.3 | 62.7 | 29.3 | ||
Total non-current portion | 11.3 | 62.7 | \u2014 | 29.3 | |
Total current portion | 19.8 | 94.0 | 96.5 | 84.3 |
Year ended December 31, 2024 (\u20ac, in millions) | Level 1 | Level 2 | Level 3 | Total | |
Assets measured at fair value | |||||
Derivative financial instruments1 | \u2014 | 96.5 | \u2014 | 96.5 | |
Money market funds2 | 6,379.2 | \u2014 | \u2014 | 6,379.2 | |
Short-term investments3 | \u2014 | 5.4 | \u2014 | 5.4 | |
Total | 6,379.2 | 101.9 | \u2014 | 6,481.1 | |
Liabilities measured at fair value | |||||
Derivative financial instruments1 | \u2014 | 113.6 | \u2014 | 113.6 | |
Assets and Liabilities for which fair values are disclosed | |||||
Loan receivable | \u2014 | \u2014 | 1,339.4 | 1,339.4 | |
Long-term debt4 | 4,561.8 | \u2014 | \u2014 | 4,561.8 |
Year ended December 31, 2023 (\u20ac, in millions) | Level 1 | Level 2 | Level 3 | Total | |
Assets measured at fair value | |||||
Derivative financial instruments1 | \u2014 | 31.1 | \u2014 | 31.1 | |
Money market funds2 | 3,167.4 | \u2014 | \u2014 | 3,167.4 | |
Short-term investments3 | \u2014 | 5.4 | \u2014 | 5.4 | |
Total | 3,167.4 | 36.5 | \u2014 | 3,203.9 | |
Liabilities measured at fair value | |||||
Derivative financial instruments1 | \u2014 | 156.7 | \u2014 | 156.7 | |
Assets and Liabilities for which fair values are disclosed | |||||
Loan receivable | \u2014 | \u2014 | 776.1 | 776.1 | |
Long-term debt4\u00a0 | 4,496.2 | \u2014 | \u2014 | 4,496.2 |
Year ended December 31 (\u20ac, in millions) | 2023 | 2024 | |
Advance payments included in Other assets | 1,182.7 | 1,415.7 | |
Loan receivable | 912.4 | 1,440.8 | |
Investment agreement for 24.9% equity | 919.6 | 903.0 | |
Accounts receivable | 7.8 | 70.8 | |
Accounts payable | 4.0 | 955.8 | |
Cost to be paid included in Accrued and other liabilities | 199.9 | 199.9 |
Year ended December 31 (\u20ac, in millions) | 2022 | 2023 | 2024 | |
Total purchases | 2,693.6 | 3,325.9 | 3,946.5 |
Year ended December 31 (\u20ac, in millions) | 2023 | 2024 | |
Advance payments included in Other assets | 1,182.7 | 1,415.7 | |
Loan receivable | 912.4 | 1,440.8 | |
Investment agreement for 24.9% equity | 919.6 | 903.0 | |
Accounts receivable | 7.8 | 70.8 | |
Accounts payable | 4.0 | 955.8 | |
Cost to be paid included in Accrued and other liabilities | 199.9 | 199.9 |
Year ended December 31 (\u20ac, in millions) | 2022 | 2023 | 2024 | |
Total purchases | 2,693.6 | 3,325.9 | 3,946.5 |
Legal Entity | Country of Incorporation |
Subsidiaries of ASML Holding NV1 :\u00a0 | |
ASML Belgium BV | Belgium (Antwerp) |
Hermes Microvision Co., Ltd. (Beijing) | China (Beijing) |
ASML (Shanghai) Electrical Equipment Co. Ltd. | China (Shanghai) |
ASML (Beijing) Equipment Repair Company Limited | China (Beijing) |
ASML (Shanghai) Lithography Facilities Science and Technology Co. Ltd. | China (Shanghai) |
Cymer Semiconductor Equipment (Shanghai) Co. Ltd. | China (Shanghai) |
Hermes Microvision (Shanghai) Co., Ltd | China (Shanghai) |
Brion Technologies (Shenzhen) Co. Ltd. | China (Shenzhen) |
ASML France S.a.r.l. | France (Crolles) |
ASML Verwaltungs GmbH i.l. | Germany (Berlin) |
ASML Berlin GmbH (formerly Berliner Glas GmbH) | Germany (Berlin) |
ASML Germany GmbH | Germany (Dresden) |
ASML Participations Germany GmbH | Germany (Dresden) |
ASML Hong Kong Ltd. | Hong Kong SAR |
ASML Ireland Ltd. | Ireland (Dublin) |
ASML Israel (2001) Ltd. | Israel (Kiryat Gat) |
ASML Italy S.r.l. | Italy (Avezzano) |
ASML Japan Co. Ltd. | Japan (Tokyo) |
Cymer Japan, Inc. | Japan (Tokyo) |
ASML Equipment Malaysia Sdn. Bhd. | Malaysia (Georgetown, Pulau Pinang) |
Cymer BV | Netherlands (Veldhoven) |
ASML Netherlands BV | Netherlands (Veldhoven) |
ASML Trading BV | Netherlands (Veldhoven) |
Hermes Microvision Incorporated BV | Netherlands (Veldhoven) |
ASML Singapore Pte. Ltd. | Singapore |
Cymer Singapore Pte Ltd. | Singapore |
ASML Korea Co. Ltd. | South Korea (Gyeonggi-Do) |
Legal Entity | Country of Incorporation |
ASML Repair Center Korea Ltd. | South Korea (Gyeonggi-Do) |
Cymer Korea Inc. | South Korea (Gyeonggi-Do) |
ASML Taiwan Ltd. | Taiwan (Hsinchu City) |
ASML Technology Taiwan Ltd. | Taiwan (Hsinchu City) |
Cymer Southeast Asia Ltd. | Taiwan (Hsinchu City) |
ASML (UK) Ltd. | UK (Edinburgh (Scotland)) |
Cymer, LLC | US (Carson City, Nevada) |
EO Technical Solutions LLC | US (Vancouver, Washington) |
ASML US, LLC | US (Wilmington, Delaware) |
ASML US, LP | US (Wilmington, Delaware) |
Associates of ASML Holding NV: | |
Carl Zeiss SMT Holding GmbH & Co. KG (24.9%) | Germany (Oberkochen) |
HighTechXL Group BV (31.97%) | Netherlands |
Board of Management member | Financial year | Base salary | Pension | Other benefits | Total fixed | % Fixed | STI | LTI | Total variable | % Variable | Ratio fixed/variable | Total remuneration | ||
C.D. Fouquet1 | 2024 | 979 | 111 | 63 | 1,153 | 21.2% | 1,532 | 2,747 | 4,279 | 78.8% | 0.27 | 5,432 | ||
2023 | 725 | 82 | 56 | 863 | 24.5% | 883 | 1,773 | 2,656 | 75.5% | 0.32 | 3,519 | |||
2022 | 694 | 78 | 53 | 825 | 29.5% | 619 | 1,354 | 1,973 | 70.5% | 0.42 | 2,798 | |||
F.J.M. Schneider-Maunoury | 2024 | 754 | 161 | 51 | 966 | 23.0% | 1,026 | 2,217 | 3,243 | 77.0% | 0.30 | 4,209 | ||
2023 | 725 | 148 | 45 | 918 | 25.7% | 883 | 1,773 | 2,656 | 74.3% | 0.35 | 3,574 | |||
2022 | 694 | 141 | 36 | 871 | 30.6% | 619 | 1,354 | 1,973 | 69.4% | 0.44 | 2,844 | |||
R.J.M. Dassen | 2024 | 754 | 133 | 60 | 947 | 22.6% | 1,026 | 2,217 | 3,243 | 77.4% | 0.29 | 4,190 | ||
2023 | 725 | 121 | 56 | 902 | 25.4% | 883 | 1,773 | 2,656 | 74.6% | 0.34 | 3,558 | |||
2022 | 694 | 116 | 51 | 861 | 30.4% | 619 | 1,354 | 1,973 | 69.6% | 0.44 | 2,834 | |||
W.R. Allan2 | 2024 | 754 | 133 | 163 | 6 | 1,050 | 26.9% | 1,026 | 1,821 | 3 | 2,847 | 73.1% | 0.37 | 3,897 |
2023 | 492 | 82 | 38 | 612 | 29.6% | 599 | 860 | 1,459 | 70.4% | 0.42 | 2,071 | |||
J.P. Koonmen4,5 | 2024 | 516 | 8 | 206 | 6 | 730 | 31.1% | 702 | 915 | 1,617 | 68.9% | 0.45 | 2,347 | |
Total Board of Management | 2024 | 3,757 | 546 | 543 | 4,846 | 24.1% | 5,312 | 9,917 | 15,229 | 75.9% | 0.32 | 20,075 | ||
2023 | 2,667 | 433 | 195 | 3,295 | 25.9% | 3,248 | 6,179 | 9,427 | 74.1% | 0.35 | 12,722 | |||
2022 | 2,082 | 335 | 140 | 2,557 | 30.2% | 1,857 | 4,062 | 5,919 | 69.8% | 0.43 | 8,476 |
Former Board of Management member | Financial year | Base salary | Pension | Other benefits | Total fixed | % Fixed | STI | LTI1 | Total variable | % Variable | Ratio fixed/variable | Total remuneration | ||
P.T.F.M. Wennink1 | 2024 | 345 | 82 | 119 | 2 | 546 | 10.9% | 494 | 3 | 3,953 | 4,447 | 89.1% | 0.12 | 4,993 |
2023 | 1,040 | 248 | 61 | 1,349 | 22.7% | 1,400 | 3,192 | 4,592 | 77.3% | 0.29 | 5,941 | |||
2022 | 1,020 | 206 | 58 | 1,284 | 30.0% | 961 | 2,035 | 2,996 | 70.0% | 0.43 | 4,280 | |||
M.A. van den Brink1 | 2024 | 345 | 82 | 111 | 2 | 538 | 10.8% | 494 | 3 | 3,953 | 4,447 | 89.2% | 0.12 | 4,985 |
2023 | 1,040 | 248 | 59 | 1,347 | 22.7% | 1,400 | 3,192 | 4,592 | 77.3% | 0.29 | 5,939 | |||
2022 | 1,020 | 206 | 57 | 1,283 | 30.0% | 961 | 2,035 | 2,996 | 70.0% | 0.43 | 4,279 | |||
Total former Board of Management | 2024 | 690 | 164 | 230 | 1,084 | 10.9% | 988 | 7,906 | 8,894 | 89.1% | 0.12 | 9,978 | ||
2023 | 2,080 | 496 | 120 | 2,696 | 22.7% | 2,800 | 6,384 | 9,184 | 77.3% | 0.29 | 11,880 | |||
2022 | 2,040 | 412 | 115 | 2,567 | 30.0% | 1,922 | 4,070 | 5,992 | 70.0% | 0.43 | 8,559 |
Market based element | Non-Market based element | ||||||||||||
Board of Management | Grant date | Status | Full control | Number of shares at target | Fair value at grant date | Number of shares at target | Fair value at grant date | Total number of\u00a0 shares at target | Total number of shares at maximum (200%) | Vesting date | Number of vested shares on publication date | Year-end closing share price in year of vesting | End of lock-up date |
C.D. Fouquet1 | 1/23/24 | Conditional | No | 1,065 | 939.9 | 2,485 | 692.7 | 3,550 | 7,100 | 1/1/27 | n/a | n/a | 1/1/29 |
1/27/23 | Conditional | No | 731 | 901.9 | 1,706 | 603.4 | 2,437 | 4,874 | 1/1/26 | n/a | n/a | 1/1/28 | |
4/29/22 | Conditional2 | No | 483 | 596.0 | 1,126 | 533.5 | 1,609 | 3,217 | 1/1/25 | 2,128 | 678.7 | 1/1/27 | |
1/22/21 | Unconditional | No | 717 | 635.6 | 1,670 | 454.9 | 2,387 | 4,774 | 1/1/24 | 3,763 | 681.7 | 1/1/26 | |
1/24/20 | Unconditional | No | 858 | 286.9 | 2,001 | 263.7 | 2,859 | 5,718 | 1/1/23 | 5,208 | 503.8 | 1/1/25 | |
F.J.M. Schneider-Maunoury | 1/23/24 | Conditional | No | 668 | 939.9 | 1,559 | 692.7 | 2,227 | 4,453 | 1/1/27 | n/a | n/a | 1/1/29 |
1/27/23 | Conditional | No | 731 | 901.9 | 1,706 | 603.4 | 2,437 | 4,874 | 1/1/26 | n/a | n/a | 1/1/28 | |
4/29/22 | Conditional2 | No | 483 | 596.0 | 1,126 | 533.5 | 1,609 | 3,217 | 1/1/25 | 2,128 | 678.7 | 1/1/27 | |
1/22/21 | Unconditional | No | 717 | 635.6 | 1,670 | 454.9 | 2,387 | 4,774 | 1/1/24 | 3,763 | 681.7 | 1/1/26 | |
1/24/20 | Unconditional | No | 858 | 286.9 | 2,001 | 263.7 | 2,859 | 5,718 | 1/1/23 | 5,208 | 503.8 | 1/1/25 | |
R.J.M. Dassen | 1/23/24 | Conditional | No | 668 | 939.9 | 1,559 | 692.7 | 2,227 | 4,453 | 1/1/27 | n/a | n/a | 1/1/29 |
1/27/23 | Conditional | No | 731 | 901.9 | 1,706 | 603.4 | 2,437 | 4,874 | 1/1/26 | n/a | n/a | 1/1/28 | |
4/29/22 | Conditional2 | No | 483 | 596.0 | 1,126 | 533.5 | 1,609 | 3,217 | 1/1/25 | 2,128 | 678.7 | 1/1/27 | |
1/22/21 | Unconditional | No | 717 | 635.6 | 1,670 | 454.9 | 2,387 | 4,774 | 1/1/24 | 3,763 | 681.7 | 1/1/26 | |
1/24/20 | Unconditional | No | 858 | 286.9 | 2,001 | 263.7 | 2,859 | 5,718 | 1/1/23 | 5,208 | 503.8 | 1/1/25 | |
W.R. Allan3 | 1/23/24 | Conditional | No | 668 | 939.9 | 1,559 | 692.7 | 2,227 | 4,453 | 1/1/27 | n/a | n/a | 1/1/29 |
1/27/23 | Conditional | No | 731 | 901.9 | 1,706 | 603.4 | 2,437 | 4,874 | 1/1/26 | n/a | n/a | 1/1/28 | |
J.P. Koonmen4,5 | 1/23/24 | Conditional | No | 676 | 939.9 | 1,578 | 692.7 | 2,255 | 4,509 | 1/1/27 | n/a | n/a | 1/1/29 |
Of market-based element | Of non-market-based elements | ||||||||||||
Former Board of Management | Grant date | Status | Full control | Number of shares at target | Fair value at grant date | Number of shares at target | Fair value at grant date | Total number of\u00a0 shares at target | Total number of shares at maximum (200%) | Vesting date | Number of vested shares on publication date | Year-end closing share price in year of vesting | End of lock-up date |
P.T.F.M. Wennink1 | 1/23/24 | Conditional | No | 316 | 939.9 | 738 | 692.7 | 1,054 | 2,109 | 1/1/27 | n/a | n/a | 1/1/29 |
1/27/23 | Conditional | No | 1,049 | 901.9 | 2,447 | 603.4 | 3,496 | 6,991 | 1/1/26 | n/a | n/a | 1/1/28 | |
4/29/22 | Conditional2 | No | 709 | 596.0 | 1,655 | 533.5 | 2,364 | 4,727 | 1/1/25 | 3,126 | 678.7 | 1/1/27 | |
1/22/21 | Unconditional | No | 1,053 | 635.6 | 2,455 | 454.9 | 3,508 | 7,016 | 1/1/24 | 5,531 | 681.7 | 1/1/26 | |
1/24/20 | Unconditional | No | 1,387 | 286.9 | 3,235 | 263.7 | 4,622 | 9,245 | 1/1/23 | 8,420 | 503.8 | 1/1/25 | |
M.A. van den Brink1 | 1/23/24 | Conditional | No | 316 | 939.9 | 738 | 692.7 | 1,054 | 2,109 | 1/1/27 | n/a | n/a | 1/1/29 |
1/27/23 | Conditional | No | 1,049 | 901.9 | 2,447 | 603.4 | 3,496 | 6,991 | 1/1/26 | n/a | n/a | 1/1/28 | |
4/29/22 | Conditional2 | No | 709 | 596.0 | 1,655 | 533.5 | 2,364 | 4,727 | 1/1/25 | 3,126 | 678.7 | 1/1/27 | |
1/22/21 | Unconditional | No | 1,053 | 635.6 | 2,455 | 454.9 | 3,508 | 7,016 | 1/1/24 | 5,531 | 681.7 | 1/1/26 | |
1/24/20 | Unconditional | No | 1,387 | 286.9 | 3,235 | 263.7 | 4,622 | 9,245 | 1/1/23 | 8,420 | 503.8 | 1/1/25 |
Supervisory Board member | Membership fees 2024 | Committee fees 2024 | Allowances 20241 | Ratio fixed/variable 2024 | Total remuneration 2024 | Total remuneration 2023 | Total remuneration 2022 | Total remuneration 2021 | Total remuneration 2020 |
T.L. Kelly | 80 | 38 | 11 | 1.0 | 129 | 137 | 126 | 107 | 88 |
A.P. Aris | 100 | 48 | 6 | 1.0 | 154 | 152 | 144 | 127 | 95 |
B.M. Conix | 80 | 40 | 6 | 1.0 | 126 | 109 | 99 | 63 | n/a |
D.M. Durcan | 80 | 38 | 26 | 1.0 | 144 | 137 | 126 | 112 | 57 |
D.W.A. East | 80 | 34 | 6 | 1.0 | 120 | 119 | 99 | 93 | 59 |
N.S. Andersen | 140 | 40 | 7 | 1.0 | 187 | 123 | n/a | n/a | n/a |
J.P. de Kreij | 80 | 43 | 6 | 1.0 | 129 | 85 | n/a | n/a | n/a |
A.F.M. Everke | 80 | 32 | 6 | 1.0 | 118 | 104 | 66 | n/a | n/a |
A.L. Steegen | 80 | 32 | 6 | 1.0 | 118 | 109 | 66 | n/a | n/a |
Total | 800 | 345 | 80 | 1.0 | 1,225 | 1,075 | 726 | 502 | 299 |
Supervisory Board member | Total remuneration 2024 | Total remuneration 2023 | Total remuneration 2022 |
G.J. Kleisterlee | n/a | 61 | 190 |
R.D. Schwalb | n/a | 37 | 116 |
J.M.C. Stork | n/a | n/a | 40 |
Total | n/a | 98 | 346 |
Year ended December 31 | 2023 | 2024 | |||||
(\u20ac, in thousands) | KPMG Accountants N.V. | KPMG Network | Total | KPMG Accountants N.V. | KPMG Network | Total | |
Audit fees | 3,509 | 1,152 | 4,661 | 3,857 | 1,188 | 5,045 | |
Audit-related fees | 196 | \u2014 | 196 | 812 | 13 | 825 | |
Tax fees | \u2014 | \u2014 | \u2014 | \u2014 | \u2014 | \u2014 | |
All other fees | 28 | 11 | 39 | 85 | 2 | 87 | |
Principal accountant fees | 3,733 | 1,163 | 4,896 | 4,754 | 1,203 | 5,957 |