{ "documentInfo": { "documentType": "https://xbrl.org/2021/xbrl-json", "features": { "xbrl:canonicalValues": true }, "namespaces": { "ifrs-full": "https://xbrl.ifrs.org/taxonomy/2024-03-27/ifrs-full", "iso4217": "http://www.xbrl.org/2003/iso4217", "phia": "http://www.philips.com/20251231", "scheme": "http://standards.iso.org/iso/17442", "xbrl": "https://xbrl.org/2021", "xbrli": "http://www.xbrl.org/2003/instance" }, "taxonomy": [ "http://www.philips.com/20251231/phia-2025-12-31.xsd" ] }, "facts": { "f-1": { "value": "17834000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:RevenueFromContractsWithCustomers", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-2": { "value": "18021000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:RevenueFromContractsWithCustomers", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-3": { "value": "18169000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:RevenueFromContractsWithCustomers", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-4": { "value": "9776000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CostOfSales", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-5": { "value": "10248000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CostOfSales", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-6": { "value": "10721000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CostOfSales", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-7": { "value": "8058000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:GrossProfit", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-8": { "value": "7773000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:GrossProfit", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-9": { "value": "7448000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:GrossProfit", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-10": { "value": "4342000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:SellingExpense", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-11": { "value": "4486000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:SellingExpense", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-12": { "value": "4524000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:SellingExpense", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-13": { "value": "628000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:GeneralAndAdministrativeExpense", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-14": { "value": "582000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:GeneralAndAdministrativeExpense", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-15": { "value": "608000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:GeneralAndAdministrativeExpense", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-16": { "value": "1700000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ResearchAndDevelopmentExpense", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-17": { "value": "1747000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ResearchAndDevelopmentExpense", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-18": { "value": "1890000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ResearchAndDevelopmentExpense", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-19": { "value": "87000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-20": { "value": "590000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-21": { "value": "112000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-22": { "value": "51000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherExpenseByNature", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-23": { "value": "1019000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherExpenseByNature", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-24": { "value": "652000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherExpenseByNature", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-25": { "value": "1424000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossFromOperatingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-26": { "value": "529000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossFromOperatingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-27": { "value": "-115000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossFromOperatingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-28": { "value": "113000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:FinanceIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-29": { "value": "105000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:FinanceIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-30": { "value": "63000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:FinanceIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-31": { "value": "346000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:FinanceCosts", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-32": { "value": "387000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:FinanceCosts", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-33": { "value": "376000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:FinanceCosts", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-34": { "value": "-9000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-35": { "value": "-124000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-36": { "value": "-98000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-37": { "value": "1182000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-38": { "value": "123000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-39": { "value": "-526000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-40": { "value": "282000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncomeTaxExpenseContinuingOperations", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-41": { "value": "963000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncomeTaxExpenseContinuingOperations", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-42": { "value": "-73000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncomeTaxExpenseContinuingOperations", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-43": { "value": "901000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossFromContinuingOperations", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-44": { "value": "-840000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossFromContinuingOperations", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-45": { "value": "-454000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossFromContinuingOperations", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-46": { "value": "-4000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossFromDiscontinuedOperations", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-47": { "value": "142000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossFromDiscontinuedOperations", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-48": { "value": "-10000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossFromDiscontinuedOperations", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-49": { "value": "897000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-50": { "value": "-698000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-51": { "value": "-463000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-52": { "value": "895000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-53": { "value": "-702000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-54": { "value": "-466000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-55": { "value": "1000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-56": { "value": "3000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-57": { "value": "2000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-58": { "value": "0.95", "decimals": 2, "dimensions": { "concept": "ifrs-full:BasicEarningsLossPerShareFromContinuingOperations", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "f-59": { "value": "-0.90", "decimals": 2, "dimensions": { "concept": "ifrs-full:BasicEarningsLossPerShareFromContinuingOperations", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "f-60": { "value": "-0.48", "decimals": 2, "dimensions": { "concept": "ifrs-full:BasicEarningsLossPerShareFromContinuingOperations", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "f-61": { "value": "0.94", "decimals": 2, "dimensions": { "concept": "ifrs-full:BasicEarningsLossPerShare", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "f-62": { "value": "-0.75", "decimals": 2, "dimensions": { "concept": "ifrs-full:BasicEarningsLossPerShare", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "f-63": { "value": "-0.49", "decimals": 2, "dimensions": { "concept": "ifrs-full:BasicEarningsLossPerShare", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "f-64": { "value": "0.93", "decimals": 2, "dimensions": { "concept": "ifrs-full:DilutedEarningsLossPerShareFromContinuingOperations", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "f-65": { "value": "-0.90", "decimals": 2, "dimensions": { "concept": "ifrs-full:DilutedEarningsLossPerShareFromContinuingOperations", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "f-66": { "value": "-0.48", "decimals": 2, "dimensions": { "concept": "ifrs-full:DilutedEarningsLossPerShareFromContinuingOperations", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "f-67": { "value": "0.93", "decimals": 2, "dimensions": { "concept": "ifrs-full:DilutedEarningsLossPerShare", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "f-68": { "value": "-0.75", "decimals": 2, "dimensions": { "concept": "ifrs-full:DilutedEarningsLossPerShare", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "f-69": { "value": "-0.49", "decimals": 2, "dimensions": { "concept": "ifrs-full:DilutedEarningsLossPerShare", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "f-70": { "value": "897000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-71": { "value": "-698000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-72": { "value": "-463000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-73": { "value": "8000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-74": { "value": "-18000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-75": { "value": "-26000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-76": { "value": "3000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-77": { "value": "-12000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-78": { "value": "-3000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-79": { "value": "-20000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesFromInvestmentsInEquityInstruments", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-80": { "value": "-21000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesFromInvestmentsInEquityInstruments", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-81": { "value": "-20000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesFromInvestmentsInEquityInstruments", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-82": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncomeTaxRelatingToInvestmentsInEquityInstrumentsOfOtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-83": { "value": "-9000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncomeTaxRelatingToInvestmentsInEquityInstrumentsOfOtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-84": { "value": "-3000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncomeTaxRelatingToInvestmentsInEquityInstrumentsOfOtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-85": { "value": "-15000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-86": { "value": "-17000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-87": { "value": "-40000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-88": { "value": "-1641000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-89": { "value": "768000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-90": { "value": "-579000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-91": { "value": "33000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationNetOfTax", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-92": { "value": "7000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationNetOfTax", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-93": { "value": "26000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationNetOfTax", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-94": { "value": "-3000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-95": { "value": "8000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-96": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-97": { "value": "73000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:GainsLossesOnCashFlowHedgesBeforeTax", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-98": { "value": "21000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:GainsLossesOnCashFlowHedgesBeforeTax", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-99": { "value": "29000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:GainsLossesOnCashFlowHedgesBeforeTax", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-100": { "value": "29000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ReclassificationAdjustmentsOnCashFlowHedgesNetOfTax", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-101": { "value": "29000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ReclassificationAdjustmentsOnCashFlowHedgesNetOfTax", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-102": { "value": "19000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ReclassificationAdjustmentsOnCashFlowHedgesNetOfTax", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-103": { "value": "12000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-104": { "value": "-3000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-105": { "value": "2000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-106": { "value": "-1638000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-107": { "value": "748000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-108": { "value": "-597000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-109": { "value": "-1653000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-110": { "value": "731000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-111": { "value": "-637000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-112": { "value": "-757000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-113": { "value": "33000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-114": { "value": "-1100000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-115": { "value": "-754000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-116": { "value": "27000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-117": { "value": "-1101000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-118": { "value": "-2000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-119": { "value": "6000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-120": { "value": "1000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-121": { "value": "2217000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PropertyPlantAndEquipmentIncludingRightofuseAssets", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-122": { "value": "2452000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PropertyPlantAndEquipmentIncludingRightofuseAssets", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-123": { "value": "9271000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Goodwill", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-124": { "value": "10383000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Goodwill", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-125": { "value": "2569000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IntangibleAssetsOtherThanGoodwill", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-126": { "value": "2982000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IntangibleAssetsOtherThanGoodwill", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-127": { "value": "210000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentReceivables", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-128": { "value": "208000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentReceivables", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-129": { "value": "148000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-130": { "value": "257000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-131": { "value": "704000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherNoncurrentFinancialAssets", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-132": { "value": "631000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherNoncurrentFinancialAssets", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-133": { "value": "1773000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DeferredTaxAssets", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-134": { "value": "1916000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DeferredTaxAssets", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-135": { "value": "119000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentPrepaymentsAndNoncurrentAccruedIncomeIncludingNoncurrentContractAssets", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-136": { "value": "127000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentPrepaymentsAndNoncurrentAccruedIncomeIncludingNoncurrentContractAssets", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-137": { "value": "17012000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentAssets", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-138": { "value": "18955000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentAssets", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-139": { "value": "2870000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Inventories", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-140": { "value": "3198000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Inventories", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-141": { "value": "529000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentPrepaymentsAndCurrentAccruedIncomeIncludingCurrentContractAssets", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-142": { "value": "588000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentPrepaymentsAndCurrentAccruedIncomeIncludingCurrentContractAssets", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-143": { "value": "81000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentDerivativeFinancialAssets", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-144": { "value": "69000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentDerivativeFinancialAssets", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-145": { "value": "60000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentTaxAssetsCurrent", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-146": { "value": "94000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentTaxAssetsCurrent", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-147": { "value": "3530000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentReceivables", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-148": { "value": "3672000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentReceivables", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-149": { "value": "67000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-150": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-151": { "value": "2794000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-152": { "value": "2401000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-153": { "value": "9932000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentAssets", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-154": { "value": "10022000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentAssets", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-155": { "value": "26944000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Assets", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-156": { "value": "28976000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Assets", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-157": { "value": "10957000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:EquityAttributableToOwnersOfParent", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-158": { "value": "12006000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:EquityAttributableToOwnersOfParent", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-159": { "value": "32000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncontrollingInterests", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-160": { "value": "37000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncontrollingInterests", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-161": { "value": "10990000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-162": { "value": "12043000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-163": { "value": "6934000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:LongtermBorrowings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-164": { "value": "7113000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:LongtermBorrowings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-165": { "value": "915000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentProvisions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-166": { "value": "996000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentProvisions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-167": { "value": "93000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DeferredTaxLiabilities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-168": { "value": "81000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DeferredTaxLiabilities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-169": { "value": "458000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentContractLiabilities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-170": { "value": "431000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentContractLiabilities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-171": { "value": "47000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherNoncurrentNonfinancialLiabilities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-172": { "value": "167000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherNoncurrentNonfinancialLiabilities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-173": { "value": "8446000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentLiabilities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-174": { "value": "8787000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentLiabilities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-175": { "value": "1151000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-176": { "value": "526000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-177": { "value": "34000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentDerivativeFinancialLiabilities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-178": { "value": "59000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentDerivativeFinancialLiabilities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-179": { "value": "174000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentTaxLiabilitiesCurrent", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-180": { "value": "71000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentTaxLiabilitiesCurrent", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-181": { "value": "1927000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentPayables", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-182": { "value": "1830000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentPayables", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-183": { "value": "1616000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AccrualsClassifiedAsCurrent", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-184": { "value": "1630000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AccrualsClassifiedAsCurrent", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-185": { "value": "1490000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentContractLiabilities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-186": { "value": "1699000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentContractLiabilities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-187": { "value": "712000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentProvisions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-188": { "value": "1977000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentProvisions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-189": { "value": "9000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-190": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-191": { "value": "395000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherCurrentNonfinancialLiabilities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-192": { "value": "354000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherCurrentNonfinancialLiabilities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-193": { "value": "7509000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentLiabilities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-194": { "value": "8146000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentLiabilities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-195": { "value": "15954000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Liabilities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-196": { "value": "16933000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Liabilities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-197": { "value": "26944000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:EquityAndLiabilities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-198": { "value": "28976000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:EquityAndLiabilities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-199": { "value": "897000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-200": { "value": "-698000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-201": { "value": "-463000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-202": { "value": "-4000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossFromDiscontinuedOperations", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-203": { "value": "142000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossFromDiscontinuedOperations", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-204": { "value": "-10000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossFromDiscontinuedOperations", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-205": { "value": "1125000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-206": { "value": "1390000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-207": { "value": "1261000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-208": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForImpairmentLossRecognisedInProfitOrLossGoodwill", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-209": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForImpairmentLossRecognisedInProfitOrLossGoodwill", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-210": { "value": "8000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForImpairmentLossRecognisedInProfitOrLossGoodwill", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-211": { "value": "141000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForSharebasedPayments", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-212": { "value": "96000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForSharebasedPayments", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-213": { "value": "88000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForSharebasedPayments", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-214": { "value": "23000000.0", "decimals": -6, "dimensions": { "concept": "phia:AdjustmentsForLossesGainsOnDisposalOfAssets", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-215": { "value": "-19000000.0", "decimals": -6, "dimensions": { "concept": "phia:AdjustmentsForLossesGainsOnDisposalOfAssets", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-216": { "value": "-71000000.0", "decimals": -6, "dimensions": { "concept": "phia:AdjustmentsForLossesGainsOnDisposalOfAssets", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-217": { "value": "85000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForInterestIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-218": { "value": "81000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForInterestIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-219": { "value": "46000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForInterestIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-220": { "value": "273000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForInterestExpense", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-221": { "value": "270000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForInterestExpense", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-222": { "value": "255000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForInterestExpense", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-223": { "value": "-9000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForUndistributedProfitsOfAssociates", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-224": { "value": "-126000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForUndistributedProfitsOfAssociates", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-225": { "value": "-107000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForUndistributedProfitsOfAssociates", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-226": { "value": "282000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForIncomeTaxExpense", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-227": { "value": "964000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForIncomeTaxExpense", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-228": { "value": "-71000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForIncomeTaxExpense", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-229": { "value": "26000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInWorkingCapital", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-230": { "value": "355000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInWorkingCapital", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-231": { "value": "-913000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInWorkingCapital", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-232": { "value": "9000000.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseInReceivablesAndOtherCurrentAssets", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-233": { "value": "1000000.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseInReceivablesAndOtherCurrentAssets", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-234": { "value": "-298000000.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseInReceivablesAndOtherCurrentAssets", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-235": { "value": "-115000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInInventories", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-236": { "value": "230000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInInventories", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-237": { "value": "257000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInInventories", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-238": { "value": "-97000000.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseInAccountsPayableAccruedAndOtherCurrentLiabilities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-239": { "value": "583000000.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseInAccountsPayableAccruedAndOtherCurrentLiabilities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-240": { "value": "-358000000.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseInAccountsPayableAccruedAndOtherCurrentLiabilities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-241": { "value": "-44000000.0", "decimals": -6, "dimensions": { "concept": "phia:DecreaseIncreaseInNonCurrentReceivablesAndOtherAssets", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-242": { "value": "-5000000.0", "decimals": -6, "dimensions": { "concept": "phia:DecreaseIncreaseInNonCurrentReceivablesAndOtherAssets", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-243": { "value": "-33000000.0", "decimals": -6, "dimensions": { "concept": "phia:DecreaseIncreaseInNonCurrentReceivablesAndOtherAssets", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-244": { "value": "54000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInOtherLiabilities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-245": { "value": "-51000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInOtherLiabilities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-246": { "value": "-38000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInOtherLiabilities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-247": { "value": "-1215000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForProvisions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-248": { "value": "316000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForProvisions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-249": { "value": "422000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForProvisions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-250": { "value": "104000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherAdjustmentsForNoncashItems", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-251": { "value": "101000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherAdjustmentsForNoncashItems", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-252": { "value": "129000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherAdjustmentsForNoncashItems", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-253": { "value": "83000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:InterestReceivedClassifiedAsOperatingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-254": { "value": "83000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:InterestReceivedClassifiedAsOperatingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-255": { "value": "53000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:InterestReceivedClassifiedAsOperatingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-256": { "value": "253000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:InterestPaidClassifiedAsOperatingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-257": { "value": "261000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:InterestPaidClassifiedAsOperatingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-258": { "value": "250000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:InterestPaidClassifiedAsOperatingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-259": { "value": "13000000.0", "decimals": -6, "dimensions": { "concept": "phia:DividendsReceivedFromInvestmentsInAssociatesClassifiedAsOperatingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-260": { "value": "8000000.0", "decimals": -6, "dimensions": { "concept": "phia:DividendsReceivedFromInvestmentsInAssociatesClassifiedAsOperatingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-261": { "value": "13000000.0", "decimals": -6, "dimensions": { "concept": "phia:DividendsReceivedFromInvestmentsInAssociatesClassifiedAsOperatingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-262": { "value": "213000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-263": { "value": "173000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-264": { "value": "152000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-265": { "value": "1172000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInOperatingActivitiesContinuingOperations", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-266": { "value": "1569000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInOperatingActivitiesContinuingOperations", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-267": { "value": "2136000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInOperatingActivitiesContinuingOperations", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-268": { "value": "-660000000.0", "decimals": -6, "dimensions": { "concept": "phia:NetCapitalExpenditures", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-269": { "value": "-663000000.0", "decimals": -6, "dimensions": { "concept": "phia:NetCapitalExpenditures", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-270": { "value": "-554000000.0", "decimals": -6, "dimensions": { "concept": "phia:NetCapitalExpenditures", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-271": { "value": "136000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-272": { "value": "118000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-273": { "value": "96000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-274": { "value": "263000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PaymentsForDevelopmentProjectExpenditure", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-275": { "value": "241000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PaymentsForDevelopmentProjectExpenditure", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-276": { "value": "203000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PaymentsForDevelopmentProjectExpenditure", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-277": { "value": "269000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-278": { "value": "317000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-279": { "value": "345000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-280": { "value": "9000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-281": { "value": "13000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-282": { "value": "90000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-283": { "value": "-67000000.0", "decimals": -6, "dimensions": { "concept": "phia:NetProceedsFromCashUsedForDerivativesAndCurrentFinancialAssets", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-284": { "value": "38000000.0", "decimals": -6, "dimensions": { "concept": "phia:NetProceedsFromCashUsedForDerivativesAndCurrentFinancialAssets", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-285": { "value": "-46000000.0", "decimals": -6, "dimensions": { "concept": "phia:NetProceedsFromCashUsedForDerivativesAndCurrentFinancialAssets", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-286": { "value": "46000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherCashPaymentsToAcquireEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-287": { "value": "123000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherCashPaymentsToAcquireEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-288": { "value": "92000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherCashPaymentsToAcquireEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-289": { "value": "61000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherCashReceiptsFromSalesOfEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-290": { "value": "57000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherCashReceiptsFromSalesOfEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-291": { "value": "48000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherCashReceiptsFromSalesOfEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-292": { "value": "3000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-293": { "value": "8000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-294": { "value": "73000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-295": { "value": "-22000000.0", "decimals": -6, "dimensions": { "concept": "phia:CashOutflowInflowFromSalesOfInterestsInBusinessesNetOfCashDisposedClassifiedAsInvestingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-296": { "value": "126000000.0", "decimals": -6, "dimensions": { "concept": "phia:CashOutflowInflowFromSalesOfInterestsInBusinessesNetOfCashDisposedClassifiedAsInvestingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-297": { "value": "80000000.0", "decimals": -6, "dimensions": { "concept": "phia:CashOutflowInflowFromSalesOfInterestsInBusinessesNetOfCashDisposedClassifiedAsInvestingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-298": { "value": "-737000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInInvestingActivitiesContinuingOperations", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-299": { "value": "-573000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInInvestingActivitiesContinuingOperations", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-300": { "value": "-636000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInInvestingActivitiesContinuingOperations", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-301": { "value": "-24000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInIncreaseDecreaseInCurrentBorrowings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-302": { "value": "-30000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInIncreaseDecreaseInCurrentBorrowings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-303": { "value": "29000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInIncreaseDecreaseInCurrentBorrowings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-304": { "value": "609000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-305": { "value": "763000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-306": { "value": "754000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-307": { "value": "1057000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-308": { "value": "710000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-309": { "value": "544000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-310": { "value": "13000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProceedsFromSaleOrIssueOfTreasuryShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-311": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProceedsFromSaleOrIssueOfTreasuryShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-312": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProceedsFromSaleOrIssueOfTreasuryShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-313": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PaymentsToAcquireOrRedeemEntitysShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-314": { "value": "411000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PaymentsToAcquireOrRedeemEntitysShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-315": { "value": "662000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PaymentsToAcquireOrRedeemEntitysShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-316": { "value": "328000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-317": { "value": "1000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-318": { "value": "2000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-319": { "value": "2000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaidToNoncontrollingInterests", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-320": { "value": "2000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaidToNoncontrollingInterests", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-321": { "value": "3000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaidToNoncontrollingInterests", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-322": { "value": "107000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivitiesContinuingOperations", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-323": { "value": "-496000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivitiesContinuingOperations", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-324": { "value": "-848000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivitiesContinuingOperations", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-325": { "value": "542000000.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseInCashAndCashEquivalentsContinuingOperations", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-326": { "value": "500000000.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseInCashAndCashEquivalentsContinuingOperations", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-327": { "value": "652000000.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseInCashAndCashEquivalentsContinuingOperations", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-328": { "value": "-10000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsDiscontinuedOperations", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-329": { "value": "-13000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsDiscontinuedOperations", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-330": { "value": "123000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsDiscontinuedOperations", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-331": { "value": "532000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-332": { "value": "487000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-333": { "value": "776000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-334": { "value": "-139000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-335": { "value": "45000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-336": { "value": "-79000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-337": { "value": "2401000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-338": { "value": "1869000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-339": { "value": "1172000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-340": { "value": "2794000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-341": { "value": "2401000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-342": { "value": "1869000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-343": { "value": "178000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f-344": { "value": "5253000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f-345": { "value": "-2000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f-346": { "value": "1866000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f-347": { "value": "-275000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f-348": { "value": "-228000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember", "unit": "iso4217:EUR" } }, "f-349": { "value": "-376000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember", "unit": "iso4217:EUR" } }, "f-350": { "value": "6832000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f-351": { "value": "13249000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f-352": { "value": "34000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f-353": { "value": "13283000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-354": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f-355": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f-356": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f-357": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f-358": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f-359": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember", "unit": "iso4217:EUR" } }, "f-360": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember", "unit": "iso4217:EUR" } }, "f-361": { "value": "-466000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f-362": { "value": "-466000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f-363": { "value": "2000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f-364": { "value": "-463000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-365": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f-366": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f-367": { "value": "8000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f-368": { "value": "-604000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f-369": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f-370": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember", "unit": "iso4217:EUR" } }, "f-371": { "value": "-17000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember", "unit": "iso4217:EUR" } }, "f-372": { "value": "-23000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f-373": { "value": "-635000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f-374": { "value": "-1000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f-375": { "value": "-637000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-376": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f-377": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f-378": { "value": "8000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f-379": { "value": "-604000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f-380": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f-381": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember", "unit": "iso4217:EUR" } }, "f-382": { "value": "-17000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember", "unit": "iso4217:EUR" } }, "f-383": { "value": "-488000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f-384": { "value": "-1101000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f-385": { "value": "1000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f-386": { "value": "-1100000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-387": { "value": "-8000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f-388": { "value": "-741000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f-389": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f-390": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f-391": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f-392": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember", "unit": "iso4217:EUR" } }, "f-393": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember", "unit": "iso4217:EUR" } }, "f-394": { "value": "816000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f-395": { "value": "68000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f-396": { "value": "3000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f-397": { "value": "70000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-398": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f-399": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f-400": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f-401": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f-402": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f-403": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember", "unit": "iso4217:EUR" } }, "f-404": { "value": "4000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember", "unit": "iso4217:EUR" } }, "f-405": { "value": "-4000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f-406": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f-407": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f-408": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-409": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseForwardContracts", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f-410": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseForwardContracts", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f-411": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseForwardContracts", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f-412": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseForwardContracts", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f-413": { "value": "-608000000.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseForwardContracts", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f-414": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseForwardContracts", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember", "unit": "iso4217:EUR" } }, "f-415": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseForwardContracts", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember", "unit": "iso4217:EUR" } }, "f-416": { "value": "465000000.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseForwardContracts", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f-417": { "value": "-143000000.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseForwardContracts", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f-418": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseForwardContracts", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f-419": { "value": "-143000000.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseForwardContracts", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-420": { "value": "-3000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CancellationOfTreasuryShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f-421": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CancellationOfTreasuryShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f-422": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CancellationOfTreasuryShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f-423": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CancellationOfTreasuryShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f-424": { "value": "566000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CancellationOfTreasuryShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f-425": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CancellationOfTreasuryShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember", "unit": "iso4217:EUR" } }, "f-426": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CancellationOfTreasuryShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember", "unit": "iso4217:EUR" } }, "f-427": { "value": "-563000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CancellationOfTreasuryShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f-428": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CancellationOfTreasuryShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f-429": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CancellationOfTreasuryShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f-430": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CancellationOfTreasuryShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-431": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f-432": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f-433": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f-434": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f-435": { "value": "54000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f-436": { "value": "61000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember", "unit": "iso4217:EUR" } }, "f-437": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember", "unit": "iso4217:EUR" } }, "f-438": { "value": "-24000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f-439": { "value": "91000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f-440": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f-441": { "value": "91000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-442": { "value": "183000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f-443": { "value": "5994000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f-444": { "value": "6000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f-445": { "value": "1263000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f-446": { "value": "-262000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f-447": { "value": "-166000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember", "unit": "iso4217:EUR" } }, "f-448": { "value": "-390000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember", "unit": "iso4217:EUR" } }, "f-449": { "value": "5402000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f-450": { "value": "12028000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f-451": { "value": "33000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f-452": { "value": "12061000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-453": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f-454": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f-455": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f-456": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f-457": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f-458": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember", "unit": "iso4217:EUR" } }, "f-459": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember", "unit": "iso4217:EUR" } }, "f-460": { "value": "-702000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f-461": { "value": "-702000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f-462": { "value": "3000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f-463": { "value": "-698000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-464": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f-465": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f-466": { "value": "-5000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f-467": { "value": "751000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f-468": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f-469": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember", "unit": "iso4217:EUR" } }, "f-470": { "value": "-11000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember", "unit": "iso4217:EUR" } }, "f-471": { "value": "-6000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f-472": { "value": "729000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f-473": { "value": "2000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f-474": { "value": "731000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-475": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f-476": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f-477": { "value": "-5000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f-478": { "value": "751000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f-479": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f-480": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember", "unit": "iso4217:EUR" } }, "f-481": { "value": "-11000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember", "unit": "iso4217:EUR" } }, "f-482": { "value": "-707000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f-483": { "value": "27000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f-484": { "value": "6000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f-485": { "value": "33000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-486": { "value": "-6000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f-487": { "value": "-762000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f-488": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f-489": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f-490": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f-491": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember", "unit": "iso4217:EUR" } }, "f-492": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember", "unit": "iso4217:EUR" } }, "f-493": { "value": "799000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f-494": { "value": "31000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f-495": { "value": "2000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f-496": { "value": "32000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-497": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f-498": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f-499": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f-500": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f-501": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f-502": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember", "unit": "iso4217:EUR" } }, "f-503": { "value": "311000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember", "unit": "iso4217:EUR" } }, "f-504": { "value": "-313000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f-505": { "value": "-2000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f-506": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f-507": { "value": "-2000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-508": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f-509": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f-510": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f-511": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f-512": { "value": "60000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f-513": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember", "unit": "iso4217:EUR" } }, "f-514": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember", "unit": "iso4217:EUR" } }, "f-515": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f-516": { "value": "60000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f-517": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f-518": { "value": "60000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-519": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseForwardContracts", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f-520": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseForwardContracts", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f-521": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseForwardContracts", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f-522": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseForwardContracts", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f-523": { "value": "-310000000.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseForwardContracts", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f-524": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseForwardContracts", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember", "unit": "iso4217:EUR" } }, "f-525": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseForwardContracts", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember", "unit": "iso4217:EUR" } }, "f-526": { "value": "251000000.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseForwardContracts", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f-527": { "value": "-59000000.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseForwardContracts", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f-528": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseForwardContracts", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f-529": { "value": "-59000000.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseForwardContracts", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-530": { "value": "-1000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CancellationOfTreasuryShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f-531": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CancellationOfTreasuryShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f-532": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CancellationOfTreasuryShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f-533": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CancellationOfTreasuryShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f-534": { "value": "167000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CancellationOfTreasuryShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f-535": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CancellationOfTreasuryShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember", "unit": "iso4217:EUR" } }, "f-536": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CancellationOfTreasuryShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember", "unit": "iso4217:EUR" } }, "f-537": { "value": "-166000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CancellationOfTreasuryShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f-538": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CancellationOfTreasuryShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f-539": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CancellationOfTreasuryShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f-540": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CancellationOfTreasuryShares", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-541": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f-542": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f-543": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f-544": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f-545": { "value": "54000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f-546": { "value": "65000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember", "unit": "iso4217:EUR" } }, "f-547": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember", "unit": "iso4217:EUR" } }, "f-548": { "value": "-18000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f-549": { "value": "101000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f-550": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f-551": { "value": "101000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-552": { "value": "188000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f-553": { "value": "6755000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f-554": { "value": "1000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f-555": { "value": "2014000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f-556": { "value": "-411000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f-557": { "value": "-102000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember", "unit": "iso4217:EUR" } }, "f-558": { "value": "-90000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember", "unit": "iso4217:EUR" } }, "f-559": { "value": "3650000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f-560": { "value": "12006000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f-561": { "value": "37000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f-562": { "value": "12043000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-563": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f-564": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f-565": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f-566": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f-567": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f-568": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember", "unit": "iso4217:EUR" } }, "f-569": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember", "unit": "iso4217:EUR" } }, "f-570": { "value": "895000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f-571": { "value": "895000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f-572": { "value": "1000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f-573": { "value": "897000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-574": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f-575": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f-576": { "value": "32000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f-577": { "value": "-1667000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f-578": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f-579": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember", "unit": "iso4217:EUR" } }, "f-580": { "value": "-19000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember", "unit": "iso4217:EUR" } }, "f-581": { "value": "4000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f-582": { "value": "-1649000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f-583": { "value": "-4000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f-584": { "value": "-1653000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-585": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f-586": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f-587": { "value": "32000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f-588": { "value": "-1667000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f-589": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f-590": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember", "unit": "iso4217:EUR" } }, "f-591": { "value": "-19000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember", "unit": "iso4217:EUR" } }, "f-592": { "value": "900000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f-593": { "value": "-754000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f-594": { "value": "-2000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f-595": { "value": "-757000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-596": { "value": "-5000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f-597": { "value": "-457000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f-598": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f-599": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f-600": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f-601": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember", "unit": "iso4217:EUR" } }, "f-602": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember", "unit": "iso4217:EUR" } }, "f-603": { "value": "789000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f-604": { "value": "328000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f-605": { "value": "2000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f-606": { "value": "330000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-607": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f-608": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f-609": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f-610": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f-611": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f-612": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember", "unit": "iso4217:EUR" } }, "f-613": { "value": "21000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember", "unit": "iso4217:EUR" } }, "f-614": { "value": "-21000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f-615": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f-616": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f-617": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-618": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseForwardContracts", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f-619": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseForwardContracts", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f-620": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseForwardContracts", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f-621": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseForwardContracts", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f-622": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseForwardContracts", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f-623": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseForwardContracts", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember", "unit": "iso4217:EUR" } }, "f-624": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseForwardContracts", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember", "unit": "iso4217:EUR" } }, "f-625": { "value": "-125000000.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseForwardContracts", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f-626": { "value": "-125000000.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseForwardContracts", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f-627": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseForwardContracts", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f-628": { "value": "-125000000.0", "decimals": -6, "dimensions": { "concept": "phia:IncreaseDecreaseForwardContracts", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-629": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f-630": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f-631": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f-632": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f-633": { "value": "113000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f-634": { "value": "85000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember", "unit": "iso4217:EUR" } }, "f-635": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember", "unit": "iso4217:EUR" } }, "f-636": { "value": "-39000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f-637": { "value": "159000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f-638": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f-639": { "value": "159000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-640": { "value": "193000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f-641": { "value": "7212000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f-642": { "value": "33000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f-643": { "value": "347000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f-644": { "value": "-298000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f-645": { "value": "-17000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember", "unit": "iso4217:EUR" } }, "f-646": { "value": "-89000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember", "unit": "iso4217:EUR" } }, "f-647": { "value": "3575000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f-648": { "value": "10957000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f-649": { "value": "32000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f-650": { "value": "10990000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-657": { "value": "
1General information to the Consolidated financial statements
Reporting entity and its operations
Koninklijke Philips N.V. (\u2018Royal Philips\u2019), incorporated and domiciled in the Netherlands, is a public limited
liability company organized under Dutch Law (registration number 17001910). Philips is headquartered at
Prinses Irenestraat 59, 1077 WV Amsterdam, the Netherlands and has its registered address at High Tech
Campus 52, 5656 AG Eindhoven, the Netherlands. The consolidated financial statements of Royal Philips as of
December\u00a031, 2025 , comprise Royal Philips and its subsidiaries (together referred to as the 'company\u2019 or \u2018Philips\u2019
or the 'Group\u2019). Philips is a leading health technology company primarily involved in diagnostic imaging, image-
guided therapy, patient monitoring and health informatics, as well as in consumer health and home care.
Basis of preparation
The Consolidated financial statements are:
\u2022 prepared in accordance with International Financial Reporting Standards (IFRS) Accounting Standards as
adopted by the European Union (EU) and comply with the statutory provisions of Part 9, Book 2 of the
Dutch Civil Code. All standards and interpretations issued by the International Accounting Standards Board
(IASB) and the IFRS Interpretations Committee effective in 2025 have been endorsed by the EU. As a result,
Philips\u2019 accounting policies also fully comply with IFRS Accounting Standards as issued by the IASB. These
accounting policies have been applied by group entities
\u2022 authorized for issue by the Board of Management of Royal Philips on February 19, 2026
\u2022 prepared under the historical cost convention, unless otherwise indicated
\u2022 prepared on a going concern basis
\u2022 presented in euro, which is the presentation currency
\u2022 rounded to the nearest million euro unless stated otherwise
\u2022 subject to rounding, whereby amounts may not add up precisely to the totals provided
Accounting estimates and judgments
The preparation of these financial statements requires management to make a number of estimates and
judgments that affect the application of accounting policies and the reported amounts of assets and liabilities,
revenues and expenses, and the disclosure of contingent assets and liabilities. Amounts recognized are based
on factors that are by default associated with uncertainty. Actual results may therefore differ from estimates.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revision to estimates are recognized
prospectively. Where applicable, the estimates and judgments of specific financial statement items are
described in the respective note to the consolidated financial statements.
The areas involving a higher degree of judgment and complexity in applying accounting principles and for
which changes in the assumptions and estimates could result in significantly different results than those
recorded in the consolidated financial statements are the following:
\u2022 judgment applied in determining reportable segments involves evaluating the information reviewed by the
Chief Operating Decision-Maker (the Board of Management) to assess performance and allocate resources
(Information by segment and main country )
\u2022 assessment of control (below paragraph Basis of consolidation and Interests in entities)
\u2022 revenue recognition (Income from operations )
\u2022 for acquisitions, the identification and valuation of acquired assets and liabilities including contingent
considerations provisions (Acquisitions and divestments, Provisions)
\u2022 determination of deferred tax assets for losses carried forward and uncertain tax positions (Income taxes)
\u2022 assumptions used for impairment testing (Goodwill, Intangible assets excluding goodwill)
\u2022 assessments of exposure to credit risk of financial instruments (Other financial assets, Receivables, Debt, Fair
value of financial assets and liabilities, Details of treasury and other financial risks)
\u2022 assumptions used to determine the net realizable value of inventories (Inventories)
\u2022 actuarial assumptions of future events that are used in calculating post-employment benefit expenses and
liabilities (Post-employment benefits)
\u2022 estimates and assumptions regarding the timing and the amount of outflow of resources, as well as
estimating the likelihood of a potential outflow of resources and the ability to make a reliable estimate of
the obligation relating to provisions and contingent liabilities (Provisions, Contingencies)
The company regularly updates its significant assumptions and estimates to support the reported amounts of
assets, liabilities, income and expenses.
Climate change
In preparing the consolidated financial statements, management has considered the impact of climate
change, specifically the financial impact of Philips meeting its internal and external climate-related aims, the
potential impact of climate-related risks, and the costs incurred to pro-actively manage such risks. These
considerations did not have a material impact on the financial reporting judgments, estimates or assumptions.
The financial impacts considered include specific climate mitigation measures, such as the use of lower-carbon
energy sources, the cost of developing more sustainable product offerings, and expenses incurred to mitigate
against the impact of extreme weather conditions. To meet its long-term Science Based Targets and reduce its
full value chain emissions in line with a 1.5 \u00b0C global warming scenario, Philips has entered into a number of
Power Purchase Agreements. Philips uses 100% electricity from renewable sources, mainly through long-term
Power Purchase Agreements, thereby mitigating the impact of carbon taxes. The development of more
sustainable products are covered through our EcoDesign program and already included in our R&D expenses.
The physical risk related to climate change on our sites resulting from our Task Force on Climate-Related
Financial Disclosures assessment is currently considered limited.
Material accounting policies
The material accounting policies as generally applied throughout the financial statements are described in
subsequent sections. Material accounting policies relating to specific financial statement items are described in
the respective notes to the financial statements.
Basis of consolidation
The Consolidated financial statements comprise the financial statements of Koninklijke Philips N.V. and all
subsidiaries that the company controls on a consolidated basis. Control exists when the company is exposed or
has rights to variable returns from its involvement with the investee and the company has the ability to affect
those returns through its power over the investee. Generally, there is a presumption that a majority of voting
rights results in control. To support this presumption and in cases where Philips has less than a majority of the
voting or similar rights of an investee, Philips considers all relevant facts and circumstances in assessing
whether it has power over an investee, including the contractual arrangement(s) with the other vote holders
of the investee, rights arising from other contractual arrangements and the company\u2019s voting rights and
potential voting rights. Subsidiaries are fully consolidated from the date that control commences until the
date that control ceases. All intercompany balances and transactions have been eliminated in the
Consolidated financial statements. Unrealized losses are eliminated in the same way as unrealized gains, but
only to the extent that there is no evidence of impairment.
Foreign currency transactions
The financial statements of all group entities are measured using the currency of the primary economic
environment in which the entity operates (functional currency). The euro (EUR) is the functional currency of
the company and the presentation currency of the consolidated financial statements. Foreign currency
transactions are converted into the functional currency using the exchange rates prevailing at transaction date
or the valuation date in cases where items are remeasured. Gains and losses resulting from the settlement of
foreign currency transactions and those resulting from the conversion of foreign currency denominated
monetary assets and liabilities at period-end exchange rates are recognized in the Consolidated statements of
income, except for qualifying cash flow hedges, qualifying net investment hedges and equity investments
measured at fair value through OCI which are recognized in other comprehensive income.
All foreign exchange differences are presented as part of Cost of sales, apart from tax items and financial
income and expense, which are recognized in the same line item as they relate to in the Consolidated
statements of income.
Non-monetary assets and liabilities denominated in foreign currencies that are measured at fair value are
retranslated to the functional currency using the exchange rate at the date the fair value was determined.
Non-monetary items in a foreign currency that are measured based on historical cost are translated using the
exchange rate at the transaction date.
Foreign operations
The assets and liabilities of foreign operations, including goodwill and fair value adjustments arising on
acquisition, are translated to euros at the exchange rates prevailing at the reporting date. The income and
expenses of foreign operations are translated to euros at the exchange rates prevailing at the dates of the
transactions.
Foreign currency differences arising upon translation of foreign operations into euros are recognized in Other
comprehensive income and presented as part of Currency translation differences in Equity. However, if the
operation is not a wholly-owned subsidiary, the proportionate share of the translation difference is allocated
to Non-controlling interests.
When a foreign operation is disposed of such that control, significant influence or joint control is lost, the
cumulative amount in the Currency translation differences related to the foreign operation is reclassified to
the Consolidated statements of income as part of the gain or loss on disposal. When the company disposes of
only part of its interest in a subsidiary that includes a foreign operation while retaining control, the respective
proportion of the cumulative amount is reattributed to Non-controlling interests. When the company disposes
of only part of its investment in an associate or joint venture that includes a foreign operation while retaining
significant influence or joint control, the relevant proportion of the cumulative amount is reclassified to the
Consolidated statements of income.
New accounting policies effective in 2025
No new IFRS accounting standards or amendments to existing standards, effective in 2025, had a significant
impact on the consolidated financial statements.
New accounting policies effective after 2025
The IASB has issued several IFRS accounting standards, or amendments to standards, with an effective date
after 2025. Considerations relating to IFRS 18 Presentation and Disclosure in Financial Statements are set out
below. The company has not early-adopted any standards or amendments to existing standards. The company
does not anticipate that the application of any other standards, or amendments to standards, will have a
significant impact on the consolidated financial statements upon adoption.
IFRS 18 Presentation and Disclosure in Financial Statements
IFRS 18 was issued in April 2024 and is endorsed by the EU. It will supersede IAS 1, Presentation of Financial
Statements. IFRS 18 introduces new requirements for presentation within the Consolidated statement of
income, including specified totals and subtotals. Even though the new standard will not impact the
recognition and measurement of items in the financial statements, the new standard requires entities to use
defined subtotals in the Consolidated statement of income, make disclosures about management-defined
performance measures, and adds new principles for aggregation and disaggregation of information.
IFRS 18 is effective for reporting periods beginning on or after January 1, 2027. Retrospective application is
required; therefore, upon adoption, comparative information will be restated in accordance with IFRS 18. The
company is currently assessing the implications of applying the new standard.
Changes in presentation from the prior year
Accounting policies have been applied consistently for all periods presented in these consolidated financial
statements. Certain prior-year amounts have been reclassified to conform to the current year presentation
due to combining insignificant balances and immaterial organizational changes. In 2025, uncertain tax
liabilities were reclassified from non-current tax liabilities to current income tax liabilities, and non-current
derivative financial assets were combined into other non-current financial assets.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-661": { "value": "
1General information to the Consolidated financial statements
Basis of consolidation
The Consolidated financial statements comprise the financial statements of Koninklijke Philips N.V. and all
subsidiaries that the company controls on a consolidated basis. Control exists when the company is exposed or
has rights to variable returns from its involvement with the investee and the company has the ability to affect
those returns through its power over the investee. Generally, there is a presumption that a majority of voting
rights results in control. To support this presumption and in cases where Philips has less than a majority of the
voting or similar rights of an investee, Philips considers all relevant facts and circumstances in assessing
whether it has power over an investee, including the contractual arrangement(s) with the other vote holders
of the investee, rights arising from other contractual arrangements and the company\u2019s voting rights and
potential voting rights. Subsidiaries are fully consolidated from the date that control commences until the
date that control ceases. All intercompany balances and transactions have been eliminated in the
Consolidated financial statements. Unrealized losses are eliminated in the same way as unrealized gains, but
only to the extent that there is no evidence of impairment.
4Acquisitions and divestments
Divestments
Upon loss of control, the company derecognizes the assets and liabilities of the subsidiary, any non-controlling
interests and the other components of equity related to the subsidiary. Any surplus or deficit arising from the loss of
control is recognized in the Consolidated statements of income. If the company retains any interest in the previous
subsidiary, such interest is measured at fair value at the date the control is lost. Subsequently it is accounted for as
either an equity-accounted investee (associate) or as a financial asset, depending on the level of influence retained.
Further information on loss of control can be found in Discontinued operations and assets classified as held for sale .
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-660": { "value": "
1General information to the Consolidated financial statements
Basis of consolidation
The Consolidated financial statements comprise the financial statements of Koninklijke Philips N.V. and all
subsidiaries that the company controls on a consolidated basis. Control exists when the company is exposed or
has rights to variable returns from its involvement with the investee and the company has the ability to affect
those returns through its power over the investee. Generally, there is a presumption that a majority of voting
rights results in control. To support this presumption and in cases where Philips has less than a majority of the
voting or similar rights of an investee, Philips considers all relevant facts and circumstances in assessing
whether it has power over an investee, including the contractual arrangement(s) with the other vote holders
of the investee, rights arising from other contractual arrangements and the company\u2019s voting rights and
potential voting rights. Subsidiaries are fully consolidated from the date that control commences until the
date that control ceases. All intercompany balances and transactions have been eliminated in the
Consolidated financial statements. Unrealized losses are eliminated in the same way as unrealized gains, but
only to the extent that there is no evidence of impairment.
4Acquisitions and divestments
Divestments
Upon loss of control, the company derecognizes the assets and liabilities of the subsidiary, any non-controlling
interests and the other components of equity related to the subsidiary. Any surplus or deficit arising from the loss of
control is recognized in the Consolidated statements of income. If the company retains any interest in the previous
subsidiary, such interest is measured at fair value at the date the control is lost. Subsequently it is accounted for as
either an equity-accounted investee (associate) or as a financial asset, depending on the level of influence retained.
Further information on loss of control can be found in Discontinued operations and assets classified as held for sale .
Divestments
During 2025, Philips completed two divestments, generating total net consideration of EUR 77 million. The
combined result of these divestments was a loss of EUR (26) million, recognized within Other business
expenses in the Consolidated statement of income. The most notable transaction was the divestment of the
Emergency Care business. On December 31, 2025, Philips completed the sale to Bridgefield Capital, a US-based
investment firm, and the parties entered into an exclusive brand license agreement as well as a transition
service and manufacturing agreement. The divestments were not material in the context of the Group\u2019s
financial position, performance or cash flows and did not meet the quantitative or qualitative thresholds for
separate disclosure under IFRS.
Divestments
During 2024 Philips completed four divestments, generating net cash consideration of EUR 118 million. These
transactions resulted in EUR 8 million gain, which has been recognized within Other business income in the
Consolidated statements of income. The divestments were individually and collectively not material to the
Group.
5Interests in entities
Group companies
In the accompanying table is a list of subsidiaries that, as of December\u00a031, 2025, individually exceed 5% of
either the consolidated group Sales, Income from operations or Income from continuing operations (before
any intra-group eliminations) of Group legal entities. All of the entities are fully consolidated in the Group
financial statements.
Philips Group
Interests in group compa nies in alphabetical order by country
December 31, 2025
Legal entity name
Principal country of business
Philips (China) Investment Company, Ltd.
China
Philips Medizin Systeme B\u00f6blingen GmbH
Germany \u00b9
Philips Consumer Lifestyle B.V.
Netherlands
ATL International LLC
United States
Braemar Manufacturing, LLC
United States
Philips Medical Systems (Cleveland), Inc.
United States
Philips North America LLC
United States
Philips RS North America LLC
United States
1Application of Sec. 264 (3) and Sec. 264b HGB (German Commercial Code) for fully consolidated legal entities: Philips GmbH,
Hamburg; Philips Medical Systems DMC GmbH, Hamburg; Respironics Deutschland GmbH & Co.KG, M\u00fcnchen; Philips Medizin
Systeme B\u00f6blingen GmbH, B\u00f6blingen; TomTec Imaging Systems GmbH, Unterschlei\u00dfheim; PIP Verwaltungsgesellschaft mbH,
Hamburg; Respironics Deutschland Verwaltungsgesellschaft mbH, Herrsching.\u00a0
Information related to non-controlling interests
As of December\u00a031, 2025, three consolidated subsidiaries are not wholly owned by Philips (December\u00a031, 2024:
three). In 2025, sales to third parties and Net income for these subsidiaries in aggregate are EUR 479 million
(December\u00a031, 2024: EUR 467 million) and EUR 37 million (December\u00a031, 2024: EUR 10 million),
17Equity
Non-controlling interests
Non-controlling interests relate to minority stakes held by third parties in consolidated group companies.
", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-659": { "value": "
1General information to the Consolidated financial statements
Material accounting policies
The material accounting policies as generally applied throughout the financial statements are described in
subsequent sections. Material accounting policies relating to specific financial statement items are described in
the respective notes to the financial statements.
Basis of consolidation
The Consolidated financial statements comprise the financial statements of Koninklijke Philips N.V. and all
subsidiaries that the company controls on a consolidated basis. Control exists when the company is exposed or
has rights to variable returns from its involvement with the investee and the company has the ability to affect
those returns through its power over the investee. Generally, there is a presumption that a majority of voting
rights results in control. To support this presumption and in cases where Philips has less than a majority of the
voting or similar rights of an investee, Philips considers all relevant facts and circumstances in assessing
whether it has power over an investee, including the contractual arrangement(s) with the other vote holders
of the investee, rights arising from other contractual arrangements and the company\u2019s voting rights and
potential voting rights. Subsidiaries are fully consolidated from the date that control commences until the
date that control ceases. All intercompany balances and transactions have been eliminated in the
Consolidated financial statements. Unrealized losses are eliminated in the same way as unrealized gains, but
only to the extent that there is no evidence of impairment.
Foreign currency transactions
The financial statements of all group entities are measured using the currency of the primary economic
environment in which the entity operates (functional currency). The euro (EUR) is the functional currency of
the company and the presentation currency of the consolidated financial statements. Foreign currency
transactions are converted into the functional currency using the exchange rates prevailing at transaction date
or the valuation date in cases where items are remeasured. Gains and losses resulting from the settlement of
foreign currency transactions and those resulting from the conversion of foreign currency denominated
monetary assets and liabilities at period-end exchange rates are recognized in the Consolidated statements of
income, except for qualifying cash flow hedges, qualifying net investment hedges and equity investments
measured at fair value through OCI which are recognized in other comprehensive income.
All foreign exchange differences are presented as part of Cost of sales, apart from tax items and financial
income and expense, which are recognized in the same line item as they relate to in the Consolidated
statements of income.
Non-monetary assets and liabilities denominated in foreign currencies that are measured at fair value are
retranslated to the functional currency using the exchange rate at the date the fair value was determined.
Non-monetary items in a foreign currency that are measured based on historical cost are translated using the
exchange rate at the transaction date.
Foreign operations
The assets and liabilities of foreign operations, including goodwill and fair value adjustments arising on
acquisition, are translated to euros at the exchange rates prevailing at the reporting date. The income and
expenses of foreign operations are translated to euros at the exchange rates prevailing at the dates of the
transactions.
Foreign currency differences arising upon translation of foreign operations into euros are recognized in Other
comprehensive income and presented as part of Currency translation differences in Equity. However, if the
operation is not a wholly-owned subsidiary, the proportionate share of the translation difference is allocated
to Non-controlling interests.
When a foreign operation is disposed of such that control, significant influence or joint control is lost, the
cumulative amount in the Currency translation differences related to the foreign operation is reclassified to
the Consolidated statements of income as part of the gain or loss on disposal. When the company disposes of
only part of its interest in a subsidiary that includes a foreign operation while retaining control, the respective
proportion of the cumulative amount is reattributed to Non-controlling interests. When the company disposes
of only part of its investment in an associate or joint venture that includes a foreign operation while retaining
significant influence or joint control, the relevant proportion of the cumulative amount is reclassified to the
Consolidated statements of income.
New accounting policies effective in 2025
No new IFRS accounting standards or amendments to existing standards, effective in 2025, had a significant
impact on the consolidated financial statements.
New accounting policies effective after 2025
The IASB has issued several IFRS accounting standards, or amendments to standards, with an effective date
after 2025. Considerations relating to IFRS 18 Presentation and Disclosure in Financial Statements are set out
below. The company has not early-adopted any standards or amendments to existing standards. The company
does not anticipate that the application of any other standards, or amendments to standards, will have a
significant impact on the consolidated financial statements upon adoption.
IFRS 18 Presentation and Disclosure in Financial Statements
IFRS 18 was issued in April 2024 and is endorsed by the EU. It will supersede IAS 1, Presentation of Financial
Statements. IFRS 18 introduces new requirements for presentation within the Consolidated statement of
income, including specified totals and subtotals. Even though the new standard will not impact the
recognition and measurement of items in the financial statements, the new standard requires entities to use
defined subtotals in the Consolidated statement of income, make disclosures about management-defined
performance measures, and adds new principles for aggregation and disaggregation of information.
IFRS 18 is effective for reporting periods beginning on or after January 1, 2027. Retrospective application is
required; therefore, upon adoption, comparative information will be restated in accordance with IFRS 18. The
company is currently assessing the implications of applying the new standard.
Changes in presentation from the prior year
Accounting policies have been applied consistently for all periods presented in these consolidated financial
statements. Certain prior-year amounts have been reclassified to conform to the current year presentation
due to combining insignificant balances and immaterial organizational changes. In 2025, uncertain tax
liabilities were reclassified from non-current tax liabilities to current income tax liabilities, and non-current
derivative financial assets were combined into other non-current financial assets.
2Information by segment and main country
\"Icon_Accounting
Accounting policies
Segment accounting policies are the same as the accounting policies applied by the company. Operating
segments are components of the company\u2019s business activities for which separate financial information is
available that is evaluated regularly by the Chief Operating Decision-Maker (the Board of Management of the
company). The Board of Management decides how to allocate resources and assesses performance.
Reportable segments comprise the operating segments Diagnosis & Treatment, Connected Care and Personal
Health. Besides these reportable segments, segment Other comprises Philips\u2019 central Innovation & Design, IP
royalty activities, corporate central costs, and other minor items not allocated to the operating segments.
3Discontinued operations and assets classified as held for sale
\"Icon_Accounting
Accounting policies
Assets classified as held-for-sale
Non-current assets (or disposal groups) are classified as held-for-sale if their carrying amounts are expected to
be recovered through a sale transaction rather than through continuing use. Non-current assets (or disposal
groups) classified as held-for-sale are measured at the lower of their carrying amount or the fair value less
costs of disposal. Depreciation or amortization of an asset ceases when it is classified as held-for-sale. When
non-current assets (or disposal groups) are classified as held-for-sale, comparative balances prior to such date
are not represented in the Consolidated balance sheets.
Discontinued operations
A discontinued operation is a component of the company that has either been disposed of or is classified as
held-for-sale and represents a separate major line of business or geographical area of operations or is a part
of a single coordinated plan to dispose of a separate major line of business or geographical area of
operations. Any gain or loss from disposal, together with the results of these operations until the date of
disposal, are reported separately as discontinued operations in the Consolidated statements of income.
The financial information of discontinued operations is excluded from the respective captions in the
Consolidated financial statements and related notes for all periods presented. Comparatives are re-presented
for presentation of discontinued operations in the Consolidated statements of income and Consolidated
statements of cash flows.
4Acquisitions and divestments
\"Icon_Accounting
Accounting policies
Acquisitions
The company accounts for business combinations using the acquisition method when control is transferred to
the group. The consideration transferred in the acquisition is generally measured at fair value, as are the
identifiable net assets acquired and the liabilities assumed. Transaction costs are expensed as incurred. Any
contingent consideration is measured at fair value at the acquisition date. Subsequent changes in the fair
value of the contingent consideration are recognized in the consolidated statements of income. Changes to
the initial fair value of the acquired assets and liabilities, based on new information about the circumstances
at the acquisition date, can be made up to 12 months after the acquisition date.
Divestments
Upon loss of control, the company derecognizes the assets and liabilities of the subsidiary, any non-controlling
interests and the other components of equity related to the subsidiary. Any surplus or deficit arising from the loss of
control is recognized in the Consolidated statements of income. If the company retains any interest in the previous
subsidiary, such interest is measured at fair value at the date the control is lost. Subsequently it is accounted for as
either an equity-accounted investee (associate) or as a financial asset, depending on the level of influence retained.
Further information on loss of control can be found in Discontinued operations and assets classified as held for sale .
5Interests in entities
\"Icon_Accounting
Accounting policies
Associates are all entities over which the company has significant influence, meaning the power to participate
in the financial and operating policy decisions of the investee without the power to control or jointly control
those procedures. Significant influence is presumed for entities in which the company holds between 20% and
50% of the voting power. This presumption may be rebutted if evidence demonstrates that significant
influence does not exist, or conversely, that it exists despite voting rights of less than 20%. These assessments
involve significant judgment and may require consideration of qualitative factors in addition to quantitative
thresholds. Changes in these factors could lead to reassessment of significant influence and impact the
classification and measurement of the investment.
Investments in associates are accounted for using the equity method of accounting and are initially
recognized at cost. The carrying amount of an investment in an associate includes the carrying amount of
goodwill identified on acquisition. An impairment loss on such investment is allocated to the investment as a
whole.
The company\u2019s share of the net income of these associates is included in Results of associates, in the Consolidated
statements of income, after adjustments to align the accounting policies with those of the company. In addition,
gains or losses from changes in ownership (dilution), impairments, and disposals of associates are recognized
within the same line item. When the company\u2019s share of losses exceeds its interest in an associate, the carrying
amount of that interest is reduced to zero and recognition of further losses is discontinued except to the extent
that the company has an obligation or made payments on behalf of the associate.
6Income from operations
\"Icon_Accounting
Accounting policies
Revenue recognition
Goods include consumer-type products in the Personal Health segment, equipment in the Diagnosis &
Treatment and Connected Care segments, and software-related offerings treated as goods. Services include
preventative and corrective maintenance services, as well as related parts and labor, extended warranties,
training, and other service-type offerings (including software). The company recognizes a contract with a
customer when a legally enforceable agreement exists, the rights of both parties are established, the contract
has commercial substance, and the consideration is probable to be collected. Revenue is recognized in the
period when the performance obligation is satisfied and the customer obtains control of the underlying
goods or services, allowing the customer the ability to direct the use of, and obtain substantially all of, the
remaining benefits of such product or service. The revenue reflects the consideration (i.e., transaction price) to
which the company expects to be entitled in exchange for the good or service. The consideration expected by
the company may include fixed and/or variable amounts which can be impacted by sales returns, trade
discounts, volume rebates, credits or Group Purchasing Organization (GPO) fees. The company adjusts the
consideration for the time value of money if the period between the transfer of the promised goods or
services to the customer and payment by the customer exceeds six months. Revenue is either recognized at a
point in time or over time.
Revenues from transactions relating to distinct goods or services are accounted for separately based on their
relative stand-alone selling prices. The stand-alone selling price is the price that would be charged for the
goods or service in a separate transaction under similar conditions to similar customers. The transaction price
is determined (considering variable considerations) and allocated to performance obligations based on their
relative stand-alone selling prices. These transactions mainly occur in the segments Diagnosis & Treatment and
Connected Care and include arrangements that require delivery of goods with subsequent installation and
training activities or future goods and services. Depending on the terms of the contract sale, the installation
and training activities could be considered part of the equipment sales. Revenue is recognized when the
performance obligation is satisfied, i.e., when the installation has been completed and the equipment is ready
to be used by the customer in the way contractually agreed.
Variable consideration is included in the transaction price to the extent that it is highly probable that a
significant reversal in the amount of cumulative revenue recognized will not occur once associated
uncertainties are resolved. Such assessment is performed on each reporting date to check whether it is
constrained. For products for which a right of return exists during a defined period, revenue recognition is
determined based on the historical pattern of actual returns, or in cases where such information is not
available, revenue recognition is postponed until the return period has lapsed. Return policies are typically
based on customary return arrangements in local markets. A provision is recognized for assurance-type
product warranty at the time of revenue recognition and reflects the estimated costs of replacement and free-
of-charge services that will be incurred by the company with respect to the products sold. For certain products,
the customer has the option to purchase the warranty separately, which is considered a separate performance
obligation on top of the assurance-type product warranty. For such warranties which provide distinct service,
revenue recognition occurs on a straight-line basis over the extended warranty contract period. Occasionally,
the company may offer a full or partial refund of consideration previously paid. A provision is recognized for
the amounts expected to be refunded to customers, and remeasured at each reporting date to reflect changes
in the estimated refunds, with a corresponding adjustment to revenue.
In the case of loss under a sales agreement, the loss is recognized immediately. Expenses incurred for sales
commissions that are considered incremental to the contracts are recognized immediately in the consolidated
statements of income as selling expenses as a practical expedient under IFRS 15 Revenue from Contracts with
Customers.
The company receives payments from customers based on a billing schedule or credit period, as established in
our contracts. Credit periods are determined based on standard terms, which vary according to local market
conditions. Amounts posted in deferred revenue for which the goods or services have not yet been
transferred to the customer and amounts that have either been received or are due, are presented as Contract
liabilities in the Consolidated balance sheets. Payment terms typically do not exceed 90 days after invoice.
Revenue from sale of goods
Revenues are recognized at either point in time or over time when control of the goods passes to the buyer,
based on the allocation of the transaction price to the performance obligation.
Revenue from services
Revenues are recognized over time as the company transfers control of the services to the customer, which is
demonstrated by the customer simultaneously receiving and consuming the benefits provided by the company.
The amount of revenues is measured by reference to the progress made toward complete satisfaction of the
performance obligation, which in general is evenly over time. Service revenue related to repair and
maintenance activities for goods sold is recognized ratably over the service period or as services are rendered.
Sales from other sources
Revenue includes consideration received from customers under lease arrangements in which the company acts
as lessor. Lease contracts are classified as either finance leases or operating leases.
Finance leases: When substantially all risks and rewards incidental to ownership of the underlying asset are
transferred to the lessee, the lease is classified as a finance lease. For such leases, revenue is recognized at a
point in time.
Operating leases: When the company retains substantially all risks and rewards incidental to ownership, the
lease is classified as an operating lease. Revenue from operating leases is recognized on a straight-line basis
over the lease term.
Income from royalties
Royalty income from brand license arrangements and from intellectual property rights, such as technology
licenses or patents, is recognized on an accrual basis in accordance with the substance of the relevant
agreement and can be over time or point in time.
Employee benefits expense
Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as the
related service is provided. The company recognizes a liability and an expense for bonuses and incentives
based on a formula that takes into consideration the profit attributable to the company\u2019s shareholders after
certain adjustments.
Shipping and handling
Expenses incurred for shipping and handling are mainly recorded as cost of sales. When shipping and
handling are part of a project and billed to the customer, then the related expenses are recorded as cost of
sales. Shipping and handling related to sales to third parties are partly recorded as selling expenses. When
shipping and handling billed to customers are considered a distinct and separate performance obligation, the
fees are recognized as revenue and costs included in cost of sales.
Other business income (expenses)
Other business income (expenses) includes gains and losses on the sale of property, plant and equipment,
gains and losses on the sale of businesses, and other gains and losses not related to the company\u2019s operating
activities.
Government grants
Grants from governments are recognized at their fair value when there is a reasonable assurance that the
grant will be received and the company will comply with the conditions. Grants related to costs are deferred
in the consolidated balance sheet and recognized in the consolidated statement of income as a reduction of
the related costs that they are intended to compensate. Grants related to assets are deducted from the cost of
the asset and presented net in the consolidated balance sheets.
\"Icon_Accounting
7Financial income and expenses
\"Icon_Accounting
Accounting policies
Financial income and expenses are recognized on the accrual basis in the Consolidated statements of income.
Interest income and expense are measured using the effective interest method. Dividend income is recognized
in the consolidated statements of income on the date that the company\u2019s right to receive payment is
established, which in the case of quoted securities is normally the ex-dividend date.
8Income taxes
\"Icon_Accounting
Accounting policies
Income taxes comprise current, non-current and deferred tax. Income tax is recognized in the Consolidated
statements of income except to the extent that it relates to items recognized directly within equity or in other
comprehensive income. Current tax is the expected taxes payable on the taxable income for the year, using
tax rates enacted or substantively enacted by the reporting date, and any adjustment to tax payable in respect
of previous years.
In cases where it is concluded it is not probable that tax authorities will accept a tax treatment, the effect of
the uncertainty is reflected in the recognition and measurement of tax assets and liabilities or, alternatively, a
provision is made for the amount that is expected to be settled, where this can be reasonably estimated. This
assessment relies on estimates and assumptions and may involve a series of judgments about future events.
New information may become available that causes the company to change its judgment regarding the
adequacy of existing tax assets and liabilities. Such changes to tax assets and liabilities will impact the income
tax expense in the period during which such a determination is made.
Deferred tax assets and liabilities are recognized, using the consolidated balance sheet method, for the
expected tax consequences of temporary differences between the carrying amounts of assets and liabilities
and the amounts used for taxation purposes. Deferred tax liabilities are not recognized for the following
temporary differences: (a) the initial recognition of goodwill; or (b) the initial recognition of an asset or
liability in a transaction which: (i) is not a business combination, (ii) at the time of transaction, affects neither
accounting profit nor taxable profit (tax loss), (iii) at the time of the transaction, does not give rise to equal
amounts of taxable and deductible differences; or (c) differences relating to investments in subsidiaries, joint
ventures and associates where the reversal of the respective temporary difference can be controlled by the
company and it is probable that it will not reverse in the foreseeable future. Deferred taxes are measured at
the tax rates that are expected to be applied to temporary differences when they reverse, based on the laws
that have been enacted or substantively enacted by the end of the reporting date. Deferred tax assets and
liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they
relate to income taxes levied by the same tax authority on the same taxable entity or on different taxable
entities, but the company intends to settle current tax liabilities and assets on a net basis or their tax assets
and liabilities will be realized simultaneously.
A deferred tax asset is recognized for unused tax losses, tax credits and deductible temporary differences to
the extent that it is probable that there will be future taxable profits against which they can be utilized. The
ultimate realization of deferred tax assets is dependent upon the generation of future taxable income in the
countries where the deferred tax assets originated and during the periods when the deferred tax assets
become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future
taxable income, and tax planning strategies in making this assessment.
Deferred tax liabilities are recognized for taxable temporary differences arising from investments in
subsidiaries when those differences are expected to reverse in the foreseeable future, whether due to
withholding taxes or other non-exempt tax consequences. Changes in tax rates and tax laws are reflected in
the period when the change was enacted or substantively enacted by the reporting date. In case of a
subsequent adjustment to a tax asset or liability that originated from a past event for which no specific
arrangements were made at the time of divestment, due to a change in the tax base or its measurement, this
adjustment is allocated back to the component that gave rise to the original component (i.e., backward
tracing). Any subsequent change to the recognition of deferred tax assets is allocated to the component in
which the taxable gain is or will be recognized. The above principles are applied to the extent the
\u2018discontinued operations\u2019 are sufficiently separable from continuing operations.
Consistent with the IAS 12 amendment regarding Pillar Two taxation as issued by the IASB and adopted by
the EU, Philips does not recognize deferred taxes arising from tax laws that implement Pillar Two model rules
published by the Organisation for Economic Co-operation and Development.
9Earnings per share
\"Icon_Accounting
Accounting policies
The company presents basic and diluted earnings per share (EPS) data for its common shares. Basic EPS is
calculated by dividing the Net income (loss) attributable to shareholders by the weighted average number of
common shares outstanding (after deduction of treasury shares) during the period. Diluted EPS is determined
by adjusting the Net income (loss) attributable to shareholders and the weighted average number of common
shares outstanding (after deduction of treasury shares) during the period, for the effects of all dilutive
potential common shares, which comprise performance shares, restricted shares and share options granted
under share-based compensation plans as well as forward contracts to repurchase shares, to the extent that
these contracts are dilutive.
10Property, plant and equipment
\"Icon_Accounting
Accounting policies
Owned assets
The cost of property, plant and equipment comprise all directly attributable costs (including the cost of
material and direct labor).
Depreciation is generally calculated using the straight-line method over the useful life of the asset. Land and
assets under construction are not depreciated. When assets under construction are ready for their intended
use, they are transferred to the relevant asset category and depreciation starts. All other property, plant and
equipment items are depreciated over their estimated useful lives to their estimated residual values.
The estimated useful lives of property, plant and equipment are:
Philips Group
Useful lives of property, plant and equipment
Buildings
from\u00a05 to 50 years
Machinery and installations
from 3\u00a0to 20 years
Other equipment
from 1 to 10 years
Property, plant and equipment are reviewed for impairment whenever events or changes in circumstances
indicate that the book value of the assets concerned may not be recoverable. An impairment loss is
recognized for the amount by which the asset's book value exceeds their recoverable amount. Impairments
are reversed if and to the extent that the impairment no longer exists. The recoverable amount is defined as
the higher of the asset\u2019s fair value less costs of disposal and its value in use.
Gains and losses on the sale of property, plant and equipment are included in other business income. Costs
related to repair and maintenance activities are expensed in the period in which they are incurred unless they
extend the asset's original lifetime or capacity.
Right-of-use assets
The company leases various items of real estate, vehicles and other equipment. The company determines
whether an arrangement constitutes or contains a lease based on the substance of the arrangement at the
lease inception. The arrangement constitutes or contains a lease if fulfillment is dependent on the use of a
specific asset and the arrangement conveys a right to use the asset, even if that asset is not explicitly specified
in the arrangement.
Company as a lessee
The company recognizes right-of-use assets and lease liabilities for leases with a term of more than 12 months
if the underlying asset is not of low value. Payments for short-term and low-value leases are expensed over
the lease term. Extension options are included in the lease term if their exercise is reasonably certain. Right-of-
use assets are measured at cost less accumulated depreciation and impairment losses, adjusted for any
remeasurements. Right-of-use assets are depreciated using the straight-line method over the shorter of the
lease term and the useful life of the underlying assets.
Company as a lessor
When the company acts as a lessor, it determines at lease inception whether a lease is a finance lease or an
operating lease. Leases in which the company does not transfer substantially all the risks and rewards
incidental to ownership of an asset are classified as operating leases. The company recognizes lease payments
received under operating leases as income on a straight-line basis over the lease term in the Consolidated
statement of income.
11Goodwill
\"Icon_Accounting
Accounting policies
The measurement of goodwill at initial recognition is described in the Acquisitions and divestments note.
Goodwill is subsequently measured at cost, less accumulated impairment losses.
Goodwill is not amortized but is instead tested for impairment annually in the fourth quarter, or more
frequently if indicators of potential impairment exist. Internal and external sources of information are
considered to assess if there are indicators that an asset or groups of cash-generating units (CGUs) may be
impaired. Goodwill is allocated to groups of CGUs and tested for impairment at the Business level (one level
below segment), which represents the lowest level at which goodwill is monitored internally for management
purposes. An impairment loss is recognized in the Consolidated statements of income whenever and to the
extent that the carrying amount of a group of CGUs exceeds the recoverable amount for the group of CGUs,
whichever is the greater, its value in use or its fair value less cost of disposal. Value in use is measured as the
present value of future cash flows expected to be generated by the asset. Fair value less cost of disposal is
measured as the amount obtained from the sale of an asset in an arm\u2019s length transaction, less costs of
disposal.
12Intangible assets excluding goodwill
\"Icon_Accounting
Accounting policies
Acquired finite-lived intangible assets are amortized using the straight-line method over their estimated
useful life. The useful lives are evaluated annually. Intangible assets are initially capitalized at cost, with the
exception of intangible assets acquired as part of a business combination, which are capitalized at their
acquisition date fair value.
The company expenses all research costs as incurred. Expenditure on development activities, whereby research
findings are applied to a plan or design for the production of new or substantially improved products and
processes, is capitalized as an intangible asset if the product or process is technically and commercially
feasible, the company has sufficient resources and the intention to complete development and can measure
the attributable expenditure reliably.
The capitalized development expenditure comprises of all directly attributable costs (including the cost of
materials and direct labor). Other development expenditures and expenditures on research activities are
recognized in the Consolidated statements of income. Capitalized development expenditure is stated at cost
less accumulated amortization and impairment losses. Amortization of capitalized development expenditure
is charged to the Consolidated statements of income on a straight-line basis over the estimated useful lives of
the intangible assets.
Philips Group
Expected useful lives of intangible assets excluding goodwill in years
Brand names
2-20
Customer relationships
2-25
Technology
3-20
Other
1-10
Software
1-10
Product development
3-10
The weighted average expected remaining life of brand names, customer relationships, technology and other
intangible assets is 8.2 years as of December\u00a031, 2025 (2024 : 8.5 years ).
Impairment of intangible assets not yet ready for use
Intangible assets not yet ready for use are not amortized but are tested for impairment annually and whenever
impairment indicators require. In the case of intangible assets not yet ready for use, either internal or external
sources of information are considered to assess if there are indicators that an asset or a CGU may be impaired.
Impairment of non-financial assets other than goodwill, intangible assets not yet ready for use, inventories
and deferred tax assets
Non-financial assets other than goodwill, intangible assets not yet ready for use, inventories and deferred tax
assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying
amount of an asset may not be recoverable. Recoverability of assets to be held and used is assessed by a
comparison of the carrying amount of an asset with the greater of its value in use and fair value less cost of
disposal. Value in use is measured as the present value of future cash flows expected to be generated by the
asset. Fair value less cost of disposal is measured as the amount obtained from a sale of an asset in an arm\u2019s
length transaction, less costs of disposal. If the carrying amount of an asset is deemed not recoverable, an
impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the
recoverable amount. The review for impairment is carried out at the level where cash flows occur that are
independent of other cash flows.
Impairment losses recognized in prior periods for intangible assets other than goodwill are assessed at each
reporting date for any indications that the loss has decreased or no longer exists. An impairment loss is
reversed if and to the extent that there has been a change in the estimates used to determine the recoverable
amount. The loss is reversed only to the extent that the asset\u2019s carrying amount does not exceed the carrying
amount that would have been determined, net of depreciation or amortization, if no impairment loss had
been recognized. Reversals of impairment are recognized in the Consolidated statements of income.
13Other financial assets
\"Icon_Accounting
Accounting policies
Classification and measurement of financial assets
The company applies IFRS 9 in classifying and measuring financial assets. Classification and measurement
depend on the characteristics of the financial asset\u2019s contractual cash flows and the company\u2019s business model
for managing the assets.
The company initially measures a financial asset at its fair value plus, in the case of financial assets other than
those designated at fair value through profit or loss, transaction costs.
For the purposes of subsequent measurement, financial assets are classified into four categories:
\u2022 Financial assets at amortized cost: debt instruments held with the objective to collect contractual cash flows,
provided that the cash flows represent solely payments of principal and interest.
\u2022 Financial assets at fair value through other comprehensive income (FVTOCI): debt instruments held with the
objective to collect contractual cash flows and sell the financial asset, provided that the cash flows represent
solely payments of principal and interest. Changes in fair value are recognized in OCI and recycled to profit
or loss upon derecognition.
\u2022 Financial assets at FVTOCI: equity instruments for which the company made an irrevocable election to
present subsequent changes in their fair value in OCI given that the short-term fair value fluctuations of
these long-term, equity investments are not considered representative of the company\u2019s performance.
Gains and losses are not recycled to profit or loss upon derecognition; however, dividends are recognized in
profit or loss.
\u2022 Financial assets at fair value through profit or loss (FVTPL): debt instruments that do not meet the criteria
for amortized cost or FVTOCI, and equity instruments not designated at FVTOCI, are measured at FVTPL.
Changes in fair value are recognized in profit or loss.
Impairment of financial assets
The company recognizes a loss allowance for expected credit losses (ECL) for trade receivables, contract assets,
lease receivables, and debt instruments measured at amortized cost or at FVTOCI.
At each reporting date, the company assesses the credit risk of its financial assets. If, at the reporting date, the
credit risk on a debt instrument has not increased significantly since initial recognition, the company measures
the loss allowance for the financial asset at an amount equal to 12 months of expected credit losses. If, at the
reporting date, the credit risk on a debt instrument has increased significantly since initial recognition, the
company measures the loss allowance for the financial asset at an amount equal to the lifetime-expected
credit losses. For all trade receivables, contract assets and lease receivables the company measures the loss
allowance at an amount equal to lifetime-expected credit losses.
14Other assets
\"Icon_Accounting
Accounting policies
The company recognizes contract assets for revenue earned from installation services because the receipt of
consideration is conditional on successful completion of the installation. Upon completion of the installation
and acceptance by the customer, the amount recognized as contract assets is reclassified to trade receivables.
Other assets are measured at amortized cost minus any impairment losses.
15Inventories
\"Icon_Accounting
Accounting policies
Inventories are stated at the lower of cost or net realizable value. The cost of inventories comprises all costs of
purchase, costs of conversion and other costs incurred in bringing the inventories to their present location and
condition. The costs of conversion of inventories include direct labor and fixed and variable production
overheads, considering the stage of completion and the normal capacity of production facilities. Costs of idle
facility and abnormal waste are expensed. The cost of inventories is determined using the first-in, first-out
(FIFO) method. The write-down of inventories to net realizable value is included in cost of sales.
16Receivables
\"Icon_Accounting
Accounting policies
Receivables are initially measured at fair value and are subsequently measured at amortized cost if held
within a business model with the objective to collect the contractual cash flows, or at fair value through OCI if
held within a business model with the objective of both holding to collect contractual cash flows and selling.
Receivables are measured less any impairment losses.
Receivables are de-recognized when the company has transferred substantially all risks and rewards, which
includes transactions in which the company enters into factoring transactions, or if the company does not
retain control over the receivables.
17Equity
\"Icon_Accounting
Accounting policies
Common shares are classified as equity. Incremental costs directly attributable to the issuance of shares are
recognized as a deduction from equity. Where the company repurchases the company\u2019s equity share capital
(treasury shares), the consideration paid, including any directly attributable incremental transaction costs (net
of income taxes), is deducted from shareholders\u2019 equity until such treasury shares are cancelled or reissued.
Where such treasury shares are subsequently reissued, any consideration received, net of any directly
attributable incremental transaction costs and the related income tax effects, is included in shareholders\u2019
equity.
Call options on own shares are treated as equity instruments.
Dividends are recognized as a liability in the period in which they are declared and approved by shareholders.
The income tax consequences of dividends are recognized when a liability to pay the dividend is recognized.
18Debt
\"Icon_Accounting
Accounting policies
Debt
Debt is initially measured at fair value net of directly attributable transaction costs. Subsequently, debt is
measured at amortized cost using the effective interest rate method. Amortized cost is calculated by taking
into account any discount or premium on acquisition and fees or costs that are an integral part of the
effective interest rate. Debt is derecognized when the obligation under the liability is discharged, cancelled or
has expired.
Lease liabilities
Lease liabilities are measured at the present value of the lease payments due over the lease term, generally
discounted using the incremental borrowing rate. Lease liabilities are subsequently measured at amortized
cost using the effective interest rate method. Lease liabilities are remeasured in case of modifications or
reassessments of the lease.
19Provisions
\"Icon_Accounting
Accounting policies
A provision is a liability of uncertain timing or amount. Provisions are recognized if, as a result of a past event,
the company has a present legal or constructive obligation, it is probable that an outflow of economic
benefits will be required to settle the obligation, and the amount can be estimated reliably. Provisions are
measured at the present value of the expenditures expected to be required to settle the obligation using a
pre-tax discount rate that reflects current market assessments of the time value of money. The increase in the
provision due to passage of time (accretion) is recognized as interest expense. Provisions include contingent
consideration and defined benefit obligations (DBO), which represent financial liabilities characterized by
uncertainty regarding their timing or amount.
Restructuring-related provisions
Provisions for severance and termination benefits are recognized for those costs only when the company has a
detailed formal plan for the restructuring and has raised a valid expectation with those affected that it will
carry out the restructuring by starting to implement that plan or announcing its main features to those
affected by it. Before a provision is established, the company recognizes any impairment loss on the assets
associated with the restructuring.
20Post-employment benefits
\"Icon_Accounting
Accounting policies
Defined contribution plans
A defined contribution plan is a post-employment benefit plan for which the company pays fixed
contributions into a separate entity and will have no legal or constructive obligation to pay further amounts.
Obligations for contributions to defined contribution pension plans are recognized as an employee benefit
expense in the Consolidated statements of income in the periods during which services are rendered by
employees.
Defined benefit plans
A defined benefit plan is a post-employment benefit plan that is not a defined contribution plan. Defined
benefit plans define an amount of pension benefit that an employee will receive after retirement. That
pension benefit typically depends on several factors such as years of service, age and salary.
The net pension asset or liability recognized in the Consolidated balance sheets in respect of defined benefit
plans is the fair value of plan assets less the present value of the projected defined benefit obligation at the
balance sheet date. The defined benefit obligation is calculated annually by qualified actuaries using the
projected unit credit method. Recognized assets are limited to the present value of any reductions in future
contributions or any future refunds. The net pension liability is presented as a long-term provision; no
distinction is made for the short-term portion.
For the company\u2019s major plans, a full discount rate curve of high-quality corporate bonds is used to determine
the defined benefit obligation, where available. The curves are based on the Mercer Yield Curve
methodology, which uses data of corporate bonds rated AA or equivalent. For the other plans, a single point
on the Mercer Yield Curve is used corresponding to the average maturity of the defined benefit obligation. In
countries without a deep corporate bond market, the discount rate is based on government bonds.
Pension costs with respect to defined benefit plans primarily represent the increase of the actuarial present
value of the obligation for post-employment benefits based on employee service during the year and the
interest on the net recognized asset or liability with respect to employee service in previous years.
Remeasurements of the net defined benefit asset or liability comprise actuarial gains and losses, the return on
plan assets (excluding interest) and the effect of the asset ceiling (excluding interest). The company recognizes
all remeasurements in Other comprehensive income.
Past service costs arising from the introduction of a change to the benefit payable under a plan or a
significant reduction of the number of employees covered by a plan (curtailment) are recognized in full in the
Consolidated statements of income.
The company\u2019s net obligation with respect to other long-term employee benefits is the amount of future
benefit that employees have earned in return for their service in the current and prior periods, such as jubilee
entitlements. That benefit is discounted to determine its present value. Remeasurements are recognized in
the Consolidated statements of income in the period in which they arise.
Further information on other long-term employee benefits can be found in Provisions in the Other provisions
section.
21Accrued liabilities
\"Icon_Accounting
Accounting policies
Accrued liabilities are initially measured at fair value and subsequently at amortized cost and are de-
recognized when the obligation under the liability is discharged, cancelled or has expired.
22Other liabilities
\"Icon_Accounting
Accounting policies
Other liabilities are initially measured at fair value and subsequently at amortized cost and are derecognized
when the obligation under the liability is discharged, cancelled or has expired.
The company recognizes contract liabilities if a payment is received or a payment is due (whichever is earlier)
from a customer before the company transfers the related goods or services. Contract liabilities are
recognized as revenue when the company performs under the contract (i.e., transfers control of the related
goods or services to the customer).
23Cash flow statement supplementary information
\"Icon_Accounting
Accounting policies
Cash and cash equivalents
Cash and cash equivalents include all cash balances, certain money market funds and short-term highly liquid
investments with an original maturity of three months or less that are readily convertible into known amounts
of cash. Bank overdrafts are included in borrowings in current liabilities.
Cash flow statements
The cash flow statement is prepared using the indirect method. Cash flows related to interest and tax are
included in operating activities. Assets and liabilities acquired as part of a business combination are included
in investing activities (net of cash acquired). Dividends paid to shareholders are included in financing activities.
Dividends received are included in operating activities.
Cash flows arising from transactions in a foreign currency are translated into the company\u2019s functional
currency using the exchange rate at the date of the cash flow. Cash flows from derivative instruments that are
accounted for as cash flow hedges are classified in the same category as the cash flows from the hedged
items. Cash flows from other derivative instruments are classified as investing cash flows.
24Contingencies
\"Icon_Accounting
Accounting policies
Contingent liabilities
A contingent liability is a liability of uncertain timing and amount. Contingencies are not recognized in the
balance sheet because they are dependent on the occurrence or non-occurrence of one or more uncertain
future events not wholly within the control of the company or because the risk of loss is estimated to be
possible but not probable or because the amount cannot be measured reliably.
Contingent assets
Contingent assets are disclosed if the inflow of economic benefits is probable, but not virtually certain. If the
inflow of economic benefits becomes virtually certain, the asset would no longer be contingent and its
recognition appropriate.
Financial guarantees
Philips\u2019 policy is to provide guarantees and other letters of support only in writing. Philips does not stand by
other forms of support. The company recognizes a liability at the fair value of the obligation at the inception
of a financial guarantee contract. The guarantee is subsequently measured at the higher of the best estimate
of the obligation or the amount initially recognized less, when appropriate, cumulative amortization.
26Share-based compensation
\"Icon_Accounting
Accounting policies
Philips\u2019 share-based compensation is an equity-settled plan made of restricted and performance shares. The
restricted shares are subject to a three-year service condition and the performance shares include both market
and non-market-based performance conditions, in addition to a three-year service condition. These shares are
awarded to the Executive Committee and senior management.
The grant date fair value of market-based performance shares is determined through a Monte Carlo valuation
model. The grant date fair value of non-market-based performance shares and restricted shares is determined
as the share price at the grant date as participants receive notional dividends throughout the vesting period.
The costs of share-based compensation plans are revised for expected performance (non-market-based
performance shares) and forfeiture and are spread evenly over the service period.
Share-based compensation is recognized over the service period as personnel expense in the consolidated
statement of income, with a corresponding increase to equity.
28Fair value of financial assets and liabilities
\"Icon_Accounting
Accounting policies
Fair value hierarchy
For financial reporting purposes, financial instruments are categorized into Level 1, 2 or 3, based on the
degree to which the inputs to the fair value measurements are observable and the significance of the inputs
to the fair value measurement in its entirety, which are as follows:
\u2022 Level 1: inputs are quoted prices (unadjusted) for identical assets or liabilities in active markets that the
company can access at the measurement date
\u2022 Level 2: all significant inputs (other than quoted prices included within Level 1) are observable for the asset
or liability, either directly (as prices) or indirectly (derived from prices)
\u2022 Level 3: one or more of the significant inputs are not based on observable market data, such as third-party
pricing information without adjustments, for the asset or liability
Transfers between Level 1, Level 2, and Level 3 of the fair value hierarchy are recognized at the end of the
reporting period in which the change occurred. Transfers are made when there is a change in the
observability of inputs, such as:
\u2022 Into Level 1: When quoted prices in active markets become available.
\u2022 Out of Level 1: When quoted prices are no longer available or markets become inactive.
\u2022 Into or out of Level 3: When significant inputs become observable or unobservable.
There were no transfers between levels during the years ended December 31, 2025, and December 31, 2024.
Offsetting and master netting agreements
Financial assets and liabilities are offset and the net amount is reported in the balance sheet when, and only
when, the company currently has a legally enforceable right to set-off the amounts and the group intends
either to settle them on a net basis or to realize the asset and settle the liability simultaneously.
29Details of treasury and other financial risks
\"Icon_Accounting
Accounting policies
Derivative financial instruments, including hedge accounting
The company uses derivative financial instruments principally to manage its foreign currency risks and, to a
more limited extent, interest rate and commodity price risks. All derivative financial instruments are
accounted for at the trade date and classified as current or non-current assets or liabilities based on the
maturity date or the early termination date. The company measures all derivative financial instruments at fair
value that is derived from the market prices of the instruments, calculated on the basis of the present value of
the estimated future cash flows based on observable interest yield curves, basis spread, credit spreads and
foreign exchange rates, or derived from option pricing models, as appropriate. Gains or losses arising from
changes in fair value of derivatives are recognized in the Consolidated statements of income, except for
derivatives that are highly effective and qualify for cash flow or net investment hedge accounting.
Changes in the fair value of a derivative that is highly effective and that is designated and qualifies as a cash
flow hedge are recorded in other comprehensive income (OCI) until the Consolidated statements of income
are affected by the variability in cash flows of the designated hedged item. To the extent that the hedge is
ineffective, changes in the fair value are recognized in the Consolidated statements of income.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognized in
the Consolidated statements of income, together with any changes in the fair value of the hedged asset or
liability that are attributable to the hedged risk. The gain or loss relating to the effective portion of interest
rate swaps hedging fixed-rate borrowings is recognized in the Consolidated statements of income, together
with changes in the fair value of the hedged fixed-rate borrowings attributable to interest rate risk.\u00a0If the
hedge no longer meets the criteria for hedge accounting, the adjustment to the carrying amount of a hedged
item for which the effective interest rate method is used is amortized to profit or loss over the period to
maturity using a recalculated effective interest rate.
The company formally assesses, both at the hedge\u2019s inception and on an ongoing basis, whether the
derivatives that are used in hedging transactions are highly effective in offsetting changes in fair values or
cash flows of hedged items. When it is established that a derivative is not highly effective as a hedge or that it
has ceased to be a highly effective hedge, the company discontinues hedge accounting prospectively. When
hedge accounting is discontinued because a forecasted transaction is expected not to occur, the company
continues to carry the derivative on the Consolidated balance sheets at its fair value, and gains and losses that
were accumulated in OCI are recognized immediately in the same line item as they relate to in the
Consolidated statements of income.
Foreign currency differences arising upon retranslation of financial instruments designated as a hedge of a
net investment in a foreign operation are recognized directly in the currency translation differences reserve
through OCI, to the extent that the hedge is effective. To the extent that the hedge is ineffective, such
differences are recognized in the Consolidated statements of income.
", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-658": { "value": "
1General information to the Consolidated financial statements
Basis of consolidation
The Consolidated financial statements comprise the financial statements of Koninklijke Philips N.V. and all
subsidiaries that the company controls on a consolidated basis. Control exists when the company is exposed or
has rights to variable returns from its involvement with the investee and the company has the ability to affect
those returns through its power over the investee. Generally, there is a presumption that a majority of voting
rights results in control. To support this presumption and in cases where Philips has less than a majority of the
voting or similar rights of an investee, Philips considers all relevant facts and circumstances in assessing
whether it has power over an investee, including the contractual arrangement(s) with the other vote holders
of the investee, rights arising from other contractual arrangements and the company\u2019s voting rights and
potential voting rights. Subsidiaries are fully consolidated from the date that control commences until the
date that control ceases. All intercompany balances and transactions have been eliminated in the
Consolidated financial statements. Unrealized losses are eliminated in the same way as unrealized gains, but
only to the extent that there is no evidence of impairment.
4Acquisitions and divestments
Divestments
Upon loss of control, the company derecognizes the assets and liabilities of the subsidiary, any non-controlling
interests and the other components of equity related to the subsidiary. Any surplus or deficit arising from the loss of
control is recognized in the Consolidated statements of income. If the company retains any interest in the previous
subsidiary, such interest is measured at fair value at the date the control is lost. Subsequently it is accounted for as
either an equity-accounted investee (associate) or as a financial asset, depending on the level of influence retained.
Further information on loss of control can be found in Discontinued operations and assets classified as held for sale .
Divestments
During 2025, Philips completed two divestments, generating total net consideration of EUR 77 million. The
combined result of these divestments was a loss of EUR (26) million, recognized within Other business
expenses in the Consolidated statement of income. The most notable transaction was the divestment of the
Emergency Care business. On December 31, 2025, Philips completed the sale to Bridgefield Capital, a US-based
investment firm, and the parties entered into an exclusive brand license agreement as well as a transition
service and manufacturing agreement. The divestments were not material in the context of the Group\u2019s
financial position, performance or cash flows and did not meet the quantitative or qualitative thresholds for
separate disclosure under IFRS.
Divestments
During 2024 Philips completed four divestments, generating net cash consideration of EUR 118 million. These
transactions resulted in EUR 8 million gain, which has been recognized within Other business income in the
Consolidated statements of income. The divestments were individually and collectively not material to the
Group.
5Interests in entities
\"Icon_Accounting
Accounting policies
Associates are all entities over which the company has significant influence, meaning the power to participate
in the financial and operating policy decisions of the investee without the power to control or jointly control
those procedures. Significant influence is presumed for entities in which the company holds between 20% and
50% of the voting power. This presumption may be rebutted if evidence demonstrates that significant
influence does not exist, or conversely, that it exists despite voting rights of less than 20%. These assessments
involve significant judgment and may require consideration of qualitative factors in addition to quantitative
thresholds. Changes in these factors could lead to reassessment of significant influence and impact the
classification and measurement of the investment.
Investments in associates are accounted for using the equity method of accounting and are initially
recognized at cost. The carrying amount of an investment in an associate includes the carrying amount of
goodwill identified on acquisition. An impairment loss on such investment is allocated to the investment as a
whole.
The company\u2019s share of the net income of these associates is included in Results of associates, in the Consolidated
statements of income, after adjustments to align the accounting policies with those of the company. In addition,
gains or losses from changes in ownership (dilution), impairments, and disposals of associates are recognized
within the same line item. When the company\u2019s share of losses exceeds its interest in an associate, the carrying
amount of that interest is reduced to zero and recognition of further losses is discontinued except to the extent
that the company has an obligation or made payments on behalf of the associate.
The nature of the company\u2019s interests in its consolidated entities and associates, and the effects of those
interests on the company\u2019s financial position and financial performance are discussed in the subsequent
paragraphs.
Group companies
In the accompanying table is a list of subsidiaries that, as of December\u00a031, 2025, individually exceed 5% of
either the consolidated group Sales, Income from operations or Income from continuing operations (before
any intra-group eliminations) of Group legal entities. All of the entities are fully consolidated in the Group
financial statements.
Philips Group
Interests in group compa nies in alphabetical order by country
December 31, 2025
Legal entity name
Principal country of business
Philips (China) Investment Company, Ltd.
China
Philips Medizin Systeme B\u00f6blingen GmbH
Germany \u00b9
Philips Consumer Lifestyle B.V.
Netherlands
ATL International LLC
United States
Braemar Manufacturing, LLC
United States
Philips Medical Systems (Cleveland), Inc.
United States
Philips North America LLC
United States
Philips RS North America LLC
United States
1Application of Sec. 264 (3) and Sec. 264b HGB (German Commercial Code) for fully consolidated legal entities: Philips GmbH,
Hamburg; Philips Medical Systems DMC GmbH, Hamburg; Respironics Deutschland GmbH & Co.KG, M\u00fcnchen; Philips Medizin
Systeme B\u00f6blingen GmbH, B\u00f6blingen; TomTec Imaging Systems GmbH, Unterschlei\u00dfheim; PIP Verwaltungsgesellschaft mbH,
Hamburg; Respironics Deutschland Verwaltungsgesellschaft mbH, Herrsching.\u00a0
Information related to non-controlling interests
As of December\u00a031, 2025, three consolidated subsidiaries are not wholly owned by Philips (December\u00a031, 2024:
three). In 2025, sales to third parties and Net income for these subsidiaries in aggregate are EUR 479 million
(December\u00a031, 2024: EUR 467 million) and EUR 37 million (December\u00a031, 2024: EUR 10 million), respectively.
Investments in associates
The total value of investments in associates as of December 31, 2025, amounted to EUR 148 million (2024: EUR
257 million, 2023: EUR 381\u00a0million).
During the year, the investment in an associate was reclassified to other non-current financial assets measured
at FVTOCI, following the loss of significant influence, resulting in a EUR 2 million gain recognized in results of
associates. Cumulative currency translation gains of EUR\u202f19\u00a0million were recycled to the income statement as
part of other business income.
The accompanying table summarizes, on an aggregate basis, the components of results of associates together
with Philips\u2019 share in other comprehensive income.
Philips Group
Results of associates and share in other comprehensive income of associates
December 31, 2025
2025
2024
Share in profit or loss from continuing operations
(12)
(23)
Impairment
2
(103)
Result on sale of equity accounted investees
1
2
Results of associates
(9)
(124)
Share in other comprehensive income
-
-
In 2024, the impairment mainly included EUR 63\u00a0million attributable to B-Soft Co., Ltd.
Cumulative currency translation differences related to investments in associates were EUR (68) million as of
December\u00a031, 2025 (2024: EUR (10) million).
No significant contingent liabilities exist related to associates. None of the associates are considered
individually material to the group.
Involvement with unconsolidated structured entities
Philips founded three Philips Medical Capital (PMC) entities, in the US, France and Germany, in which Philips
holds a minority interest. Philips Medical Capital, LLC in the US is the most significant entity. PMC entities
provide healthcare equipment financing and leasing services to Philips customers for diagnostic imaging
equipment, patient monitoring equipment, and clinical IT systems.
The company concluded that it does not control, and therefore should not consolidate, the PMC entities. In
the US, PMC operates as a subsidiary of De Lage Landen Financial Services, Inc. The same structure and
treatment is applied to the PMC entities in the other countries, with other majority shareholders. Operating
agreements are in place for all PMC entities, whereby acceptance of sales and financing transactions resides
with the respective majority shareholder. After acceptance of a transaction by PMC, Philips transfers control
and does not retain any obligations towards PMC or its customers, from the sales contracts.
As of December\u00a031, 2025, Philips\u2019 shareholding in Philips Medical Capital, LLC had a carrying value of EUR 26
million (December\u00a031, 2024 : EUR 31 million).
The company does not have any material exposures to losses from interests in unconsolidated structured
entities other than the invested amounts.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-656": { "value": "
1General information to the Consolidated financial statements
New accounting policies effective in 2025
No new IFRS accounting standards or amendments to existing standards, effective in 2025, had a significant
impact on the consolidated financial statements.
New accounting policies effective after 2025
The IASB has issued several IFRS accounting standards, or amendments to standards, with an effective date
after 2025. Considerations relating to IFRS 18 Presentation and Disclosure in Financial Statements are set out
below. The company has not early-adopted any standards or amendments to existing standards. The company
does not anticipate that the application of any other standards, or amendments to standards, will have a
significant impact on the consolidated financial statements upon adoption.
IFRS 18 Presentation and Disclosure in Financial Statements
IFRS 18 was issued in April 2024 and is endorsed by the EU. It will supersede IAS 1, Presentation of Financial
Statements. IFRS 18 introduces new requirements for presentation within the Consolidated statement of
income, including specified totals and subtotals. Even though the new standard will not impact the
recognition and measurement of items in the financial statements, the new standard requires entities to use
defined subtotals in the Consolidated statement of income, make disclosures about management-defined
performance measures, and adds new principles for aggregation and disaggregation of information.
IFRS 18 is effective for reporting periods beginning on or after January 1, 2027. Retrospective application is
required; therefore, upon adoption, comparative information will be restated in accordance with IFRS 18. The
company is currently assessing the implications of applying the new standard.
", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-655": { "value": "
1General information to the Consolidated financial statements
Material accounting policies
Foreign currency transactions
The financial statements of all group entities are measured using the currency of the primary economic
environment in which the entity operates (functional currency). The euro (EUR) is the functional currency of
the company and the presentation currency of the consolidated financial statements. Foreign currency
transactions are converted into the functional currency using the exchange rates prevailing at transaction date
or the valuation date in cases where items are remeasured. Gains and losses resulting from the settlement of
foreign currency transactions and those resulting from the conversion of foreign currency denominated
monetary assets and liabilities at period-end exchange rates are recognized in the Consolidated statements of
income, except for qualifying cash flow hedges, qualifying net investment hedges and equity investments
measured at fair value through OCI which are recognized in other comprehensive income.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-654": { "value": "
1General information to the Consolidated financial statements
Basis of consolidation
The Consolidated financial statements comprise the financial statements of Koninklijke Philips N.V. and all
subsidiaries that the company controls on a consolidated basis. Control exists when the company is exposed or
has rights to variable returns from its involvement with the investee and the company has the ability to affect
those returns through its power over the investee. Generally, there is a presumption that a majority of voting
rights results in control. To support this presumption and in cases where Philips has less than a majority of the
voting or similar rights of an investee, Philips considers all relevant facts and circumstances in assessing
whether it has power over an investee, including the contractual arrangement(s) with the other vote holders
of the investee, rights arising from other contractual arrangements and the company\u2019s voting rights and
potential voting rights. Subsidiaries are fully consolidated from the date that control commences until the
date that control ceases. All intercompany balances and transactions have been eliminated in the
Consolidated financial statements. Unrealized losses are eliminated in the same way as unrealized gains, but
only to the extent that there is no evidence of impairment.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-653": { "value": "
1General information to the Consolidated financial statements
Accounting estimates and judgments
The preparation of these financial statements requires management to make a number of estimates and
judgments that affect the application of accounting policies and the reported amounts of assets and liabilities,
revenues and expenses, and the disclosure of contingent assets and liabilities. Amounts recognized are based
on factors that are by default associated with uncertainty. Actual results may therefore differ from estimates.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revision to estimates are recognized
prospectively. Where applicable, the estimates and judgments of specific financial statement items are
described in the respective note to the consolidated financial statements.
The areas involving a higher degree of judgment and complexity in applying accounting principles and for
which changes in the assumptions and estimates could result in significantly different results than those
recorded in the consolidated financial statements are the following:
\u2022 judgment applied in determining reportable segments involves evaluating the information reviewed by the
Chief Operating Decision-Maker (the Board of Management) to assess performance and allocate resources
(Information by segment and main country )
\u2022 assessment of control (below paragraph Basis of consolidation and Interests in entities)
\u2022 revenue recognition (Income from operations )
\u2022 for acquisitions, the identification and valuation of acquired assets and liabilities including contingent
considerations provisions (Acquisitions and divestments, Provisions)
\u2022 determination of deferred tax assets for losses carried forward and uncertain tax positions (Income taxes)
\u2022 assumptions used for impairment testing (Goodwill, Intangible assets excluding goodwill)
\u2022 assessments of exposure to credit risk of financial instruments (Other financial assets, Receivables, Debt, Fair
value of financial assets and liabilities, Details of treasury and other financial risks)
\u2022 assumptions used to determine the net realizable value of inventories (Inventories)
\u2022 actuarial assumptions of future events that are used in calculating post-employment benefit expenses and
liabilities (Post-employment benefits)
\u2022 estimates and assumptions regarding the timing and the amount of outflow of resources, as well as
estimating the likelihood of a potential outflow of resources and the ability to make a reliable estimate of
the obligation relating to provisions and contingent liabilities (Provisions, Contingencies)
The company regularly updates its significant assumptions and estimates to support the reported amounts of
assets, liabilities, income and expenses.
Climate change
In preparing the consolidated financial statements, management has considered the impact of climate
change, specifically the financial impact of Philips meeting its internal and external climate-related aims, the
potential impact of climate-related risks, and the costs incurred to pro-actively manage such risks. These
considerations did not have a material impact on the financial reporting judgments, estimates or assumptions.
The financial impacts considered include specific climate mitigation measures, such as the use of lower-carbon
energy sources, the cost of developing more sustainable product offerings, and expenses incurred to mitigate
against the impact of extreme weather conditions. To meet its long-term Science Based Targets and reduce its
full value chain emissions in line with a 1.5 \u00b0C global warming scenario, Philips has entered into a number of
Power Purchase Agreements. Philips uses 100% electricity from renewable sources, mainly through long-term
Power Purchase Agreements, thereby mitigating the impact of carbon taxes. The development of more
sustainable products are covered through our EcoDesign program and already included in our R&D expenses.
The physical risk related to climate change on our sites resulting from our Task Force on Climate-Related
Financial Disclosures assessment is currently considered limited.
Basis of consolidation
The Consolidated financial statements comprise the financial statements of Koninklijke Philips N.V. and all
subsidiaries that the company controls on a consolidated basis. Control exists when the company is exposed or
has rights to variable returns from its involvement with the investee and the company has the ability to affect
those returns through its power over the investee. Generally, there is a presumption that a majority of voting
rights results in control. To support this presumption and in cases where Philips has less than a majority of the
voting or similar rights of an investee, Philips considers all relevant facts and circumstances in assessing
whether it has power over an investee, including the contractual arrangement(s) with the other vote holders
of the investee, rights arising from other contractual arrangements and the company\u2019s voting rights and
potential voting rights. Subsidiaries are fully consolidated from the date that control commences until the
date that control ceases. All intercompany balances and transactions have been eliminated in the
Consolidated financial statements. Unrealized losses are eliminated in the same way as unrealized gains, but
only to the extent that there is no evidence of impairment.
2Information by segment and main country
Accounting estimates and judgments
Determining reportable segments requires significant judgment and involves evaluating the information that
is reviewed by the Chief Operating Decision-Maker (the Board of Management) to assess performance and
allocate resources, in accordance with IFRS 8 'Operating Segments'.
3Discontinued operations and assets classified as held for sale
Accounting estimates and judgments
The determination of the fair value less costs of disposal involves the use of estimates and assumptions that
tend to be uncertain. Circumstances to which these adjustments may relate include resolution of uncertainties
that arise from the terms of the disposal transaction, such as the resolution of purchase price adjustments and
indemnifications, resolution of uncertainties that arise from and are directly related to the operations of the
component before its disposal, such as environmental and assurance-type product warranty obligations
retained by the company, and the settlement of employee benefit plan obligations provided that the
settlement is directly related to the disposal transaction.
4Acquisitions and divestments
Accounting estimates and judgments
Intangible assets acquired in a business acquisition and the financial liability related to non-controlling
interest are measured at fair value at the date of the acquisition.
To determine the fair value of intangible assets at the acquisition date, estimates and assumptions are
required. The valuation of the identifiable intangible assets involves estimates of expected sales, earnings and/
or future cash flows and require use of key assumptions, such as discount rate, royalty rate and growth rates.
Estimates are also applied when determining the fair value of legal cases and tax positions in the acquired
entity. The fair value is based on estimates of the likelihood, the expected timing and the amount of the
potential cash outflow. Contingent liabilities relating to legal cases and non-income tax positions of the
acquired entity are recognized at fair value at the acquisition date in accordance with IFRS 3, irrespective of
whether an outflow will be required to settle the obligation. After initial recognition and until the liability is
settled, cancelled or expired, the liability is measured at the higher of the amount that would be recognized
in accordance with IAS 37 'Provisions, contingent liabilities and contingent assets' and the initial liability
amount. For income tax positions, the company applies IAS 12 'Income taxes', which requires recognition of
provisions only when the likelihood of cash outflow is considered probable.
6Income from operations
Accounting estimates and judgments
Sales-related accruals
The company has sales promotions-related agreements with distributors and retailers designed to promote
the sale of products. Among the programs are arrangements under which rebates and discounts can be
earned by the distributors and retailers by attaining agreed upon sales levels, or for participating in specific
marketing programs. Management estimates the sales-related accruals associated with these arrangements
based on a combination of historical patterns and future expectations regarding which promotional targets
are expected to be met by distributors and retailers. These estimated amounts are recorded as a reduction to
revenue when the related product or service sales are recognized. Accrued customer rebates are presented as
other current liabilities, unless there is a right to offset against the respective accounts receivable.
8Income taxes
Accounting estimates and judgments
Deferred tax recoverability
Deferred tax assets are recognized to the extent that it is probable that there will be future taxable profits
against which these can be utilized. Significant judgment is involved in determining whether such profits are
probable. Management determines this on the basis of expected taxable profits arising from the reversal of
recognized deferred tax liabilities, on appropriate tax planning opportunities to support business goals and
on the basis of forecasts.
Uncertain tax positions
Uncertain tax positions are recognized as current tax liabilities when it is probable that additional income
taxes will be payable and the amount can be reliably measured. Liability is measured at the amount expected
to be paid to the tax authorities, using either the most likely amount or the expected value, depending on
which method better predicts the resolution of the uncertainty.
Tax risks
Philips is exposed to tax risks and uncertainty over tax treatments. For particular tax treatments that are not
expected to be accepted by tax authorities, Philips either recognizes a liability or reflects the uncertainty in the
recognition and measurement of its current and deferred tax assets and tax attributes. For the measurement
of the uncertainty, Philips uses the most likely amount or the expected value of the tax treatment. The
positions include, among others:
Transfer pricing risks
Philips has issued transfer pricing directives, which are in accordance with international guidelines such as
those of the Organisation of Economic Co-operation and Development. In order to reduce the transfer pricing
uncertainties, monitoring procedures are carried out by Group Tax to safeguard the correct implementation
of the transfer pricing directives. However, tax disputes can arise due to non-harmonized transfer pricing
regimes and different views on 'at arm's length' pricing.
Tax risks on general and specific service agreements and licensing agreements
Due to the centralization of certain activities (such as Research & Development, IT and group Functions), costs
are also centralized. As a consequence, these costs and/or revenues must be allocated to the beneficiaries, i.e.,
the various Philips entities. For that purpose, service contracts such as intra-group service agreements and
licensing agreements are signed with a large number of group entities. Tax authorities review these intra-
group service and licensing agreements, and may reject the implemented intra-group charges. Furthermore,
buy-in or -out situations in the case of (de)mergers could affect the cost allocation resulting from the intra-
group service agreements between countries. The same applies to the specific service agreements.
Tax risks due to disentanglements and acquisitions
When a subsidiary of Philips is disentangled, or a new company is acquired, tax risks may arise. Philips creates
merger and acquisition (M&A) teams for these disentanglements or acquisitions. In addition to representatives
from the involved business, these teams consist of specialists from various group Functions and are formed,
among other things, to identify tax risks and to reduce potential tax claims.
Tax risks due to permanent establishments
A permanent establishment may arise when a Philips entity has activities in another country; tax claims could
arise in both countries on the same income.
10Property, plant and equipment
Accounting estimates and judgments
Impairment of owned and right-of-use assets
Judgments are required, not only to determine whether there is an indication that an asset may be impaired,
but also whether indications exist that impairment losses previously recognized may no longer exist or may
have decreased (impairment reversal). After indications of impairment have been identified, estimates and
assumptions are used in the determination of the recoverable amount of a fixed asset. These involve estimates
of expected future cash flows (based on future growth rates and remaining useful life) and residual value
assumptions, as well as discount rates to calculate the present value of the future cash flows.
Owned assets
Estimates are required to determine the (remaining) useful lives of fixed assets. Useful lives are determined
based on an asset's age, the frequency of its use, repair and maintenance policy, technology changes in
production and expected restructuring. The company estimates the expected residual value per asset item.
The residual value is the higher of the asset's expected sales price (based on recent market transactions of
similar sold items) and its material scrap value.
Right-of-use assets
Judgment is required to determine the lease term. The assessment of whether the company is reasonably
certain to exercise extension options impacts the lease term, which could affect the amount of lease liabilities
and right-of-use assets recognized.
11Goodwill
Accounting estimates and judgments
The cash flow projections used in the value in use calculations for goodwill impairment testing contain various
judgments and estimations as described in the \u2018key assumptions\u2019 section.
Goodwill impairment testing
During 2025, there were no goodwill impairments recorded.
Goodwill allocated to the Businesses (groups of cash-generating units) as of December\u00a031, 2025, is presented
in the accompanying table:
Philips Group
Goodwill by business in millions of EUR
2025
2024
Monitoring
3,752
4,194
Image-Guided Therapy
2,888
3,216
Precision Diagnosis
1,289
1,440
Sleep & Respiratory Care
625
694
Personal Health
469
509
Enterprise Informatics
248
331
Book value
9,271
10,383
The carrying amount of each group of CGUs is compared to the recoverable amount of the group of CGUs.
Unless otherwise noted, the recoverable amount for each group of CGUs is based on value-in-use calculations.
Cash flow projections were determined using Philips management's internal forecasts that cover an initial
forecast period from 2026 to 2028. Projections were extrapolated using the growth rates disclosed in the
accompanying table for an extrapolation period of 4 years (2029-2032), after which a terminal value was
calculated per 2033. However, when appropriate, management may apply a longer explicit forecast period for
certain CGUs. For the terminal value calculation, growth rates were capped at a historical long-term average
growth rate. The company uses scenarios in the business forecasting process and the most reasonable and
supportable assumptions that represent management\u2019s best estimate are used as the basis for the value-in-use
calculations.
Key assumptions
Key assumptions used in the value-in-use calculations were compound sales growth rates, EBITA* in the
terminal value and the rates used for discounting the projected cash flows.
The compound sales growth rate is the annualized steady nominal growth rate over the forecast period
calculated with reference to the latest full year of actual sales as the base for the growth. The compound sales
growth rate used to calculate the terminal value is only applied to the first year after the extrapolation
period, after which no further growth is assumed for the terminal value calculation.
The compound sales growth rates and EBITA* used to estimate cash flows are based on past performance,
external market growth assumptions and industry long-term growth averages. EBITA* for each group of CGUs
is expected to increase over the projection period as a result of volume growth and cost efficiencies. By their
nature, these assumptions involve risk and uncertainty because they relate to future events and circumstances
and there are many factors that could cause actual results and developments to differ materially from the
plans, goals and expectations set forth in these assumptions.
The rates used for discounting the projected cash flows in goodwill impairment testing is based on a weighted
cost of capital (WACC), which in turn is based on business-specific inputs along with other inputs as mentioned
below. The WACC is based on post-tax cost of equity and cost of debt, and is further calculated based on
market data and inputs to accurately capture changes to the time value of money, such as the risk-free
interest rate, the beta factor and country risk premium. In order to properly reflect the different risk profiles
of different businesses, a WACC is determined for each business. As such, the beta factor is determined based
on a selection of peer companies, which can differ per business. Different businesses have different
geographical footprints, resulting in business-specific inputs for variables like country risk. Philips performs the
value-in-use calculations using post-tax cash flows and discount rate, the implicit pre-tax rate discount rate is
derived from an iterative calculation for disclosure purposes.
The values assigned to the key assumptions used for the value-in-use calculations for 2025 and 2024 were:
Philips Group
Key assumptions\u00a02025
Compound sales growth rate
Initial forecast
period
Extrapolation
period
Used to calculate
terminal value
Pre-tax discount
rates
Monitoring
5.6%
4.3%
2.5%
9.0%
Image-Guided Therapy
6.7%
4.6%
2.5%
9.8%
Precision Diagnosis
3.1%
3.8%
2.5%
10.4%
Sleep & Respiratory Care
10.8%
7.3%
2.5%
11.8%
Personal Health
5.5%
4.2%
2.5%
9.9%
Enterprise Informatics
3.9%
3.1%
2.5%
9.6%
Philips Group
Key assumptions \u00a02024
compound sales growth rate
initial forecast
period
extrapolation
period
used to calculate
terminal value
pre-tax discount
rates
Monitoring
5.3%
4.7%
2.5%
9.1%
Image-Guided Therapy
6.3%
5.0%
2.5%
9.7%
Precision Diagnosis
2.4%
3.6%
2.5%
9.9%
Sleep & Respiratory Care
10.1%
7.3%
2.5%
10.3%
Personal Health
5.1%
4.2%
2.5%
9.9%
Enterprise Informatics
4.4%
5.4%
2.5%
8.9%
Sensitivity to changes in assumptions
Based on the annual impairment test, the estimated recoverable amount of the Enterprise Informatics CGU
exceeds the carrying amount by EUR 148\u00a0million. It was noted that an increase of 150 basis points in the pre-
tax discount rate, a 250 basis point decline in the compound sales growth rate or a 24% decrease in EBITA* in
the final year would, individually, cause its recoverable amount to fall to the level of its carrying value.
The results of the annual impairment tests of Monitoring, Image-Guided Therapy, Precision Diagnosis, Sleep &
Respiratory Care and Personal Health indicate that a reasonably possible change in key assumptions would
not cause the value in use to fall to the level of the carrying value.
*The definition of this non-IFRS measure and a reconciliation to the IFRS measure is included in Information by segment and
main country
12Intangible assets excluding goodwill
\"Icon_Accounting
Accounting estimates and judgments
The cash flow projections used in the value in use calculations for intangible assets excluding goodwill contain
various judgments and estimations. For intangible assets excluding goodwill, estimates are required to
determine the (remaining) useful lives.
13Other financial assets
Impairment of financial assets
The company recognizes a loss allowance for expected credit losses (ECL) for trade receivables, contract assets,
lease receivables, and debt instruments measured at amortized cost or at FVTOCI.
At each reporting date, the company assesses the credit risk of its financial assets. If, at the reporting date, the
credit risk on a debt instrument has not increased significantly since initial recognition, the company measures
the loss allowance for the financial asset at an amount equal to 12 months of expected credit losses. If, at the
reporting date, the credit risk on a debt instrument has increased significantly since initial recognition, the
company measures the loss allowance for the financial asset at an amount equal to the lifetime-expected
credit losses. For all trade receivables, contract assets and lease receivables the company measures the loss
allowance at an amount equal to lifetime-expected credit losses.
\"Icon_Accounting
Accounting estimates and judgments
The determination of fair value is subject to estimates for investments that are not publicly traded. Refer to
Fair value of financial assets and liabilities .
Financial assets classified at amortized cost and at fair value through OCI are subject to impairment
assessment. The calculation of expected credit losses requires the company to apply significant judgment and
make estimates and assumptions that involve significant uncertainty at the time they are made. Changes to
these estimates and assumptions can result in significant changes to the timing and amount of expected credit
losses to be recognized.
15Inventories
\"Icon_Accounting
Accounting estimates and judgments
Inventory is reduced for the estimated losses due to obsolescence. This reduction is determined for groups of
products based on sales in the recent past and/or expected future demand.
16Receivables
\"Icon_Accounting
Accounting estimates
Receivables are subject to impairment assessment, which involves estimating expected credit losses. Refer to
Other financial assets for accounting policies on impairment of financial assets.
19Provisions
Accounting estimates and judgments
By their nature, the recognition of provisions requires estimates and assumptions regarding the timing and
the amount of outflow of resources. The main estimates include:
\u2022 Product warranty provisions: the provisions for assurance-type product warranty reflect the estimated costs
of replacement and free-of-charge services that will be incurred by the company with respect to products
sold and include costs to execute quality remediation and related field actions (including the Respironics
field action). These require management to make estimates and assumptions about items such as quantities
and the portion of products to be remediated through replacement, repair or (partial) refund.
\u2022 Environmental provisions: provisions for environmental remediation can change significantly due to the
emergence of additional information regarding the extent or nature of the contamination, the need to
utilize alternative technologies, actions by regulatory authorities as well as changes in judgments and
discount rates. The impact of climate change is also considered when assessing whether Philips has a
present legal or constructive obligation, particularly in relation to fines, penalties and commitments to
reduce greenhouse gas emissions.
\u2022 Legal provisions: provisions for legal claims and investigations reflect the best estimate of the outflow of
resources, supported by internal and external legal counsel, when it is probable that such outflow of
resources will be required to settle an obligation.
20Post-employment benefits
Accounting estimates and judgments
To make the actuarial calculations for the valuation of defined benefit obligations, assumptions are needed
for discount rates, healthcare cost increases, future salary increases, future pension increases, life expectancy
and employee turnover rates. The actuarial calculations are made by external actuaries based on inputs from
observable market data, such as corporate bond yield curves to determine the discount rates, mortality tables
to determine life expectancy and inflation rates to determine future salary increases and future pension
increases.
Assumptions
The mortality tables used for the company\u2019s largest DB plans are:
\u2022 Germany: Heubeck-Richttafeln 2018 Generational, assuming 93% of mortality rates for male retirees
between ages 60 and 85
\u2022 US: PRI-2012 Generational with MP2021 improvement scale + white collar adjustment
The weighted averages of the assumptions used to calculate the DBO were:
Philips Group
Assumptions used for defined benefit obligations\u00a0in %
as of December 31,
Germany
United States
Other countries
Total
2025
2024
2025
2024
2025
2024
2025
2024
Discount rate
3.9%
3.3%
5.0%
5.1%
4.4%
4.2%
4.1%
4.0%
Inflation rate
2.0%
2.0%
2.3%
2.3%
2.1%
2.2%
2.0%
2.1%
Salary increase
2.8%
2.8%
0.0%
0.0%
4.5%
4.4%
3.1%
3.1%
Sensitivity analysis
The following table illustrates the approximate impact on the DBO from movements in key assumptions. The
DBO was recalculated using a change in the assumptions of 1% which overall is considered a reasonably
possible change. The impact on the DBO because of changes in discount rate is normally accompanied by
partly offsetting movements in plan assets.
The average duration in years of the DBO of the DB plans is 9 (Germany: 10, US: 7, and other countries: 9) as
of December\u00a031, 2025 (2024: 10).
Philips Group
Sensitivity of key assumptions in millions of EUR
2025
2024
Increase
Discount rate (1% movement)
(80)
(123)
Pension increase (1% movement)
54
60
Salary increase (1% movement)
12
14
Longevity \u00b9
26
34
Decrease
Discount rate (1% movement)
98
150
Pension increase (1% movement)
(47)
(52)
Salary increase (1% movement)
(11)
(12)
Longevity \u00b9
(21)
(24)
1The mortality table (i.e., longevity) also impacts the DBO. The above sensitivity table illustrates the impact on the DBO of a
further 10% decrease / increase in the assumed rates of mortality for the company\u2019s major plans. A 10% decrease / increase in
assumed mortality rates equals a change of life expectancy by 0.5\u00a0- 1 year.
24Contingencies
Accounting estimates and judgments
Significant judgment is required to determine the likelihood of a potential outflow of resources. In addition,
judgment is involved in determining whether the amount of an obligation can be measured with sufficient
reliability. Contingencies involve inherent uncertainties including, but not limited to, court rulings,
negotiations between affected parties, governmental actions, tax and environmental remediation.
Contingent assets require management to apply judgment, especially to estimate the likelihood of the inflow
of economic benefits and timing of recognition.
26Share-based compensation
Accounting estimates and judgments
The use of a valuation model to determine market-based performance share fair value requires estimates for
the expected volatility of the Philips share price and correlation among input variables.
At each reporting date, Philips calculates the expected realization of the non-market-based performance
targets and revises the expected share-based compensation expense. The cumulative effect is recorded in the
consolidated statement of income with a corresponding adjustment in equity.
No expense is recognized for awards that do not ultimately vest because non-market performance and/or
service conditions have not been met.
28Fair value of financial assets and liabilities
Accounting estimates and judgments
Determining the fair value of financial instruments requires the use of estimates according to the method
applied for each type of financial asset of liability. The estimated fair value of financial instruments has been
determined by the company using available market information and appropriate valuation methods. The
estimates presented are not necessarily indicative of the amounts that will ultimately be realized by the
company upon maturity or disposal. The use of different market assumptions and/or estimation methods may
have a material effect on the estimated fair value amounts.
Specific valuation techniques used to value financial instruments include:
Level 1
Instruments included in level 1 are composed primarily of listed equity investments classified as financial assets
carried at fair value through profit or loss or carried at fair value through other comprehensive income (OCI).
The fair value of financial instruments traded in active markets is based on quoted market prices at the
balance sheet date. A market is regarded as active if quoted prices are readily and regularly available from an
exchange, dealer, broker, industry group, pricing service, or regulatory agency, and those prices represent
actual and regularly occurring market transactions on an arm\u2019s length basis.
Level 2
The fair value of financial instruments that are not traded in an active market (for example, over-the-counter
derivatives or convertible bond instruments) is determined by using valuation techniques. These valuation
techniques maximize the use of observable market data where it is available and rely as little as possible on
entity-specific estimates. If all significant inputs required to fair value an instrument are based on observable
market data, the instrument is included in level 2. The fair value of derivatives is calculated as the present
value of the estimated future cash flows based on observable interest yield curves, basis spread and foreign
exchange rates. The valuation of convertible bond instruments uses observable market quoted data for the
options and present value calculations using observable yield curves for the fair value of the bonds.
The fair value of debt is estimated on the basis of the quoted market prices for certain issuances, or on the
basis of discounted cash flow analysis using market rates plus Philips\u2019 spread for the particular tenors of the
borrowing arrangement. Accrued interest is not included within the carrying amount or estimated fair value
of debt.
Level 3
If one or more of the significant inputs are not based on observable market data, such as third-party pricing
information without adjustments, the instrument is included in level 3.
For financial instruments measured at Level 3, where quoted market prices are not available, Philips applies
valuation techniques such as discounted cash flow (DCF) models and market multiple approaches. These
valuation techniques reflect current market conditions at the reporting date and incorporate the best
available data. Significant unobservable inputs used in these valuations may include assumptions regarding
revenue growth, discount rates, credit risk adjustments, capture rates, forward prices, earnings multiples, and
liquidity discounts.
Contingent consideration represents the fair value of expected payments to former shareholders of an
acquired company, conditional upon the occurrence of specified future events or the fulfillment of certain
conditions \u2013 such as achieving regulatory or commercial milestones. The terms of each acquisition agreement
define these milestones, which may trigger additional payments if met. The fair value of contingent
consideration is generally determined using a probability-weighted and risk-adjusted approach to estimate
the likelihood of achieving future milestones. For commercial milestones, the discount rates applied in the
risk-adjusted approach reflect the inherent risks associated with their achievement, while both regulatory and
commercial milestones are discounted for the time value of money at risk-free rates. Contingent consideration
can fluctuate significantly, driven by changes in the estimated probability of milestone achievement and
adjustments to discount rates. Changes in the fair value of the contingent consideration liability are
recognized in other business income (expenses). The measurement of fair value is based on management\u2019s
estimates and assumptions, and accordingly classified as Level 3 in the fair value hierarchy.
29Details of treasury and other financial risks
Accounting estimates and judgments
Financial assets are subject to impairment assessment, which involves estimating expected credit losses. Refer
to Other financial assets for accounting policies on impairment of financial assets.
Credit risk
Credit risk represents the loss that would be recognized at the reporting date, if counterparties failed
completely to perform their payment obligations as contracted. Credit risk is present within Philips trade
receivables, contract assets and customer financing. To have better insights into the credit exposures, Philips
performs ongoing evaluations of the financial and non-financial condition of its customers and adjusts credit
limits when appropriate. In instances where the creditworthiness of a customer is determined not to be
sufficient to grant the credit limit required, there are a number of mitigation tools that can be utilized to
close the gap, including reducing payment terms, cash on delivery, pre-payments and pledges on assets.
Philips invests available cash and cash equivalents with various financial institutions and is exposed to credit
risk with these counterparties. Philips is also exposed to credit risks in the event of non-performance by
financial institutions with respect to financial derivative instruments. Philips actively manages concentration
risk and on a daily basis measures the potential loss under certain stress scenarios, should a financial
institution default. These worst-case scenario losses are monitored and limited by the company.
The company does not enter into any financial derivative instruments to protect against default by financial
institutions. However, where possible the company requires all financial institutions with which it deals in
derivative transactions to complete legally enforceable netting agreements under an International Swap
Dealers Association master agreement or otherwise prior to trading, and whenever possible, to have a strong
credit rating. Philips also regularly monitors the development of the credit risk of its financial counterparties.
Wherever possible, cash is invested and financial transactions are concluded with financial institutions with
strong credit ratings or with governments or government-backed institutions.
The accompanying table shows the number of financial institutions with credit rating A- and above with
which Philips has cash at hand and short-term deposits above EUR 10 million as of December\u00a031, 2025.
Philips Group
Credit risk with number of counterparties for deposits above EUR 10 million
10-100 million
100-500 million
500 million and above
AAA rated bank counterparties
2
AA- rated bank counterparties
1
1
A+ rated bank counterparties
2
3
A rated bank counterparties
2
2
A- rated bank counterparties
2
Total
5
10
For an overview of the overall maximum credit exposure related to debt instruments, derivatives and loans
and receivables, refer to Fair value of financial assets and liabilities.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-652": { "value": "
1General information to the Consolidated financial statements
Material accounting policies
Foreign currency transactions
The financial statements of all group entities are measured using the currency of the primary economic
environment in which the entity operates (functional currency). The euro (EUR) is the functional currency of
the company and the presentation currency of the consolidated financial statements. Foreign currency
transactions are converted into the functional currency using the exchange rates prevailing at transaction date
or the valuation date in cases where items are remeasured. Gains and losses resulting from the settlement of
foreign currency transactions and those resulting from the conversion of foreign currency denominated
monetary assets and liabilities at period-end exchange rates are recognized in the Consolidated statements of
income, except for qualifying cash flow hedges, qualifying net investment hedges and equity investments
measured at fair value through OCI which are recognized in other comprehensive income.
All foreign exchange differences are presented as part of Cost of sales, apart from tax items and financial
income and expense, which are recognized in the same line item as they relate to in the Consolidated
statements of income.
Non-monetary assets and liabilities denominated in foreign currencies that are measured at fair value are
retranslated to the functional currency using the exchange rate at the date the fair value was determined.
Non-monetary items in a foreign currency that are measured based on historical cost are translated using the
exchange rate at the transaction date.
Foreign operations
The assets and liabilities of foreign operations, including goodwill and fair value adjustments arising on
acquisition, are translated to euros at the exchange rates prevailing at the reporting date. The income and
expenses of foreign operations are translated to euros at the exchange rates prevailing at the dates of the
transactions.
Foreign currency differences arising upon translation of foreign operations into euros are recognized in Other
comprehensive income and presented as part of Currency translation differences in Equity. However, if the
operation is not a wholly-owned subsidiary, the proportionate share of the translation difference is allocated
to Non-controlling interests.
When a foreign operation is disposed of such that control, significant influence or joint control is lost, the
cumulative amount in the Currency translation differences related to the foreign operation is reclassified to
the Consolidated statements of income as part of the gain or loss on disposal. When the company disposes of
only part of its interest in a subsidiary that includes a foreign operation while retaining control, the respective
proportion of the cumulative amount is reattributed to Non-controlling interests. When the company disposes
of only part of its investment in an associate or joint venture that includes a foreign operation while retaining
significant influence or joint control, the relevant proportion of the cumulative amount is reclassified to the
Consolidated statements of income.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-651": { "value": "
1General information to the Consolidated financial statements
Changes in presentation from the prior year
Accounting policies have been applied consistently for all periods presented in these consolidated financial
statements. Certain prior-year amounts have been reclassified to conform to the current year presentation
due to combining insignificant balances and immaterial organizational changes. In 2025, uncertain tax
liabilities were reclassified from non-current tax liabilities to current income tax liabilities, and non-current
derivative financial assets were combined into other non-current financial assets.
", "dimensions": { "concept": "ifrs-full:DisclosureOfReclassificationsOrChangesInPresentationExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-662": { "value": "Koninklijke Philips N.V.", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-663": { "value": "the Netherlands", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-664": { "value": "the Netherlands", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-665": { "value": "the NetherlandsAmsterdam", "dimensions": { "concept": "ifrs-full:PrincipalPlaceOfBusiness", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-666": { "value": "public limited liability company", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-667": { "value": "High Tech Campus 52, 5656 AG Eindhoven, the Netherlands", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-668": { "value": "Philips is a leading health technology company primarily involved in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care.", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-672": { "value": "
Basis of preparation
The Consolidated financial statements are:
\u2022 prepared in accordance with International Financial Reporting Standards (IFRS) Accounting Standards as
adopted by the European Union (EU) and comply with the statutory provisions of Part 9, Book 2 of the
Dutch Civil Code. All standards and interpretations issued by the International Accounting Standards Board
(IASB) and the IFRS Interpretations Committee effective in 2025 have been endorsed by the EU. As a result,
Philips\u2019 accounting policies also fully comply with IFRS Accounting Standards as issued by the IASB. These
accounting policies have been applied by group entities
\u2022 authorized for issue by the Board of Management of Royal Philips on February 19, 2026
\u2022 prepared under the historical cost convention, unless otherwise indicated
\u2022 prepared on a going concern basis
\u2022 presented in euro, which is the presentation currency
\u2022 rounded to the nearest million euro unless stated otherwise
\u2022 subject to rounding, whereby amounts may not add up precisely to the totals provided
", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-671": { "value": "
Basis of preparation
The Consolidated financial statements are:
\u2022 prepared in accordance with International Financial Reporting Standards (IFRS) Accounting Standards as
adopted by the European Union (EU) and comply with the statutory provisions of Part 9, Book 2 of the
Dutch Civil Code. All standards and interpretations issued by the International Accounting Standards Board
(IASB) and the IFRS Interpretations Committee effective in 2025 have been endorsed by the EU. As a result,
Philips\u2019 accounting policies also fully comply with IFRS Accounting Standards as issued by the IASB. These
accounting policies have been applied by group entities
\u2022 authorized for issue by the Board of Management of Royal Philips on February 19, 2026
\u2022 prepared under the historical cost convention, unless otherwise indicated
\u2022 prepared on a going concern basis
\u2022 presented in euro, which is the presentation currency
\u2022 rounded to the nearest million euro unless stated otherwise
\u2022 subject to rounding, whereby amounts may not add up precisely to the totals provided
", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-670": { "value": "
Basis of preparation
The Consolidated financial statements are:
\u2022 prepared in accordance with International Financial Reporting Standards (IFRS) Accounting Standards as
adopted by the European Union (EU) and comply with the statutory provisions of Part 9, Book 2 of the
Dutch Civil Code. All standards and interpretations issued by the International Accounting Standards Board
(IASB) and the IFRS Interpretations Committee effective in 2025 have been endorsed by the EU. As a result,
Philips\u2019 accounting policies also fully comply with IFRS Accounting Standards as issued by the IASB. These
accounting policies have been applied by group entities
\u2022 authorized for issue by the Board of Management of Royal Philips on February 19, 2026
\u2022 prepared under the historical cost convention, unless otherwise indicated
\u2022 prepared on a going concern basis
\u2022 presented in euro, which is the presentation currency
\u2022 rounded to the nearest million euro unless stated otherwise
\u2022 subject to rounding, whereby amounts may not add up precisely to the totals provided
", "dimensions": { "concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-669": { "value": "
Basis of preparation
The Consolidated financial statements are:
\u2022 prepared in accordance with International Financial Reporting Standards (IFRS) Accounting Standards as
adopted by the European Union (EU) and comply with the statutory provisions of Part 9, Book 2 of the
Dutch Civil Code. All standards and interpretations issued by the International Accounting Standards Board
(IASB) and the IFRS Interpretations Committee effective in 2025 have been endorsed by the EU. As a result,
Philips\u2019 accounting policies also fully comply with IFRS Accounting Standards as issued by the IASB. These
accounting policies have been applied by group entities
\u2022 authorized for issue by the Board of Management of Royal Philips on February 19, 2026
\u2022 prepared under the historical cost convention, unless otherwise indicated
\u2022 prepared on a going concern basis
\u2022 presented in euro, which is the presentation currency
\u2022 rounded to the nearest million euro unless stated otherwise
\u2022 subject to rounding, whereby amounts may not add up precisely to the totals provided
", "dimensions": { "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-674": { "value": "
2Information by segment and main country
\"Icon_Accounting
Accounting policies
Segment accounting policies are the same as the accounting policies applied by the company. Operating
segments are components of the company\u2019s business activities for which separate financial information is
available that is evaluated regularly by the Chief Operating Decision-Maker (the Board of Management of the
company). The Board of Management decides how to allocate resources and assesses performance.
Reportable segments comprise the operating segments Diagnosis & Treatment, Connected Care and Personal
Health. Besides these reportable segments, segment Other comprises Philips\u2019 central Innovation & Design, IP
royalty activities, corporate central costs, and other minor items not allocated to the operating segments.
Accounting estimates and judgments
Determining reportable segments requires significant judgment and involves evaluating the information that
is reviewed by the Chief Operating Decision-Maker (the Board of Management) to assess performance and
allocate resources, in accordance with IFRS 8 'Operating Segments'.
The Philips reportable segments are Diagnosis & Treatment, Connected Care and Personal Health, each being
responsible for the management of its Businesses worldwide.
Philips focuses on improving people\u2019s lives through meaningful innovation. The Diagnosis & Treatment
segment unites the Businesses related to the goal of precision diagnosis and disease pathway selection, and
the Businesses related to image-guided, minimally invasive treatment. The Connected Care segment focuses
on patient care solutions, advanced informatics and analytics, and patient and workflow optimization inside
and outside the hospital, and aims to unlock synergies from integrating and optimizing patient care
pathways, and leveraging provider-payer-patient business models. The Personal Health segment focuses on
healthy living and preventative care.
Transactions between the segments are mainly related to components and parts included in the product
portfolio of the other segments. The pricing of such transactions was at cost or determined on an arm\u2019s length
basis. Philips has no single external customer that represents 10% or more of sales. Sales by country is
presented based on the country of seller.
Philips Group
Information on income statements in millions of EUR
Sales
Sales including
intercompany
Depreciation
and
amortization \u00b9
Adjusted EBITA
2025
Diagnosis & Treatment
8,531
8,986
(265)
998
Connected Care
5,076
5,100
(404)
544
Personal Health
3,673
3,765
(112)
662
Other
554
703
(344)
(9)
Inter-segment eliminations
(720)
Philips Group
17,834
17,834
(1,125)
2,195
2024
Diagnosis & Treatment
8,790
9,269
(464)
1,018
Connected Care
5,134
5,163
(403)
494
Personal Health
3,486
3,566
(117)
584
Other
611
750
(406)
(18)
Inter-segment eliminations
(726)
Philips Group
18,021
18,021
(1,390)
2,077
2023
Diagnosis & Treatment
8,825
9,269
(306)
1,028
Connected Care
5,138
5,149
(445)
369
Personal Health
3,602
3,685
(115)
597
Other
604
413
(394)
(73)
Inter-segment eliminations
(346)
Philips Group
18,169
18,169
(1,261)
1,921
1Includes impairments (excluding goodwill impairment); for impairment values please refer to Property, plant and equipment
and Intangible assets excluding goodwill
The term Adjusted EBITA* is used to evaluate the performance of Philips and its segments. Adjusted EBITA*
represents income from operations excluding amortization and impairment of acquired intangible assets and
impairment of goodwill (EBITA) and excluding gains or losses from restructuring costs, acquisition-related
charges and other items.
Adjusted EBITA* is not a recognized measure of financial performance under IFRS. Reconciliations of Adjusted
EBITA* to the most directly comparable IFRS measure, Net income, for the years indicated are presented in the
accompanying tables. Net income is not allocated to segments as certain income and expense line items are
monitored on a centralized basis, resulting in them being shown on a Philips Group level only.
Philips Group
Reconciliation from net income to Adjusted EBITA in millions of EUR
Philips Group
Diagnosis &
Treatment
Connected Care
Personal Health
Other
2025
Net Income
897
Discontinued operations, net of
income taxes
4
Income tax expense (benefit)
282
Income before taxes
1,182
Results of associates
9
Financial expenses
346
Financial income
(113)
Income from operations
1,424
804
89
631
(100)
Amortization and impairment of
acquired intangible assets
240
73
141
14
12
EBITA
1,665
877
230
645
(88)
Restructuring and acquisition-
related charges
260
43
126
17
74
Other items:
270
77
188
-
5
Respironics field-action running
costs
112
-
112
-
-
Respironics consent decree
charges
97
-
97
-
-
Quality actions
89
77
12
-
-
Contract settlement gain
(27)
-
(27)
-
-
Remaining items
(1)
-
(6)
-
5
Adjusted EBITA *
2,195
998
544
662
(9)
Philips Group
Reconciliation from net income to Adjusted EBITA in millions of EUR
Philips Group
Diagnosis &
Treatment
Connected Care
Personal Health
Other
2024
Net Income
(698)
Discontinued operations, net of
income taxes
(142)
Income tax expense (benefit)
963
Income before taxes
123
Results of associates
124
Financial expenses
387
Financial income
(105)
Income from operations
529
592
(466)
544
(142)
Amortization and impairment of
acquired intangible assets
392
225
141
15
12
EBITA
921
817
(324)
559
(130)
Restructuring and acquisition-
related charges
326
157
53
25
92
Other items:
830
45
765
-
20
Respironics litigation provision
984
-
984
-
-
Respironics insurance income
(538)
-
(538)
-
-
Respironics field-action running
costs
133
-
133
-
-
Respironics consent decree
charges
113
-
113
-
-
Quality actions
123
45
78
-
-
Remaining items
16
-
(4)
-
20
Adjusted EBITA *
2,077
1,018
494
584
(18)
Philips Group
Reconciliation from net income to Adjusted EBITA in millions of EUR
Philips Group
Diagnosis &
Treatment
Connected Care
Personal Health
Other
2023
Net Income
(463)
Discontinued operations, net of
income taxes
10
Income tax expense (benefit)
(73)
Income before taxes
(526)
Results of associates
98
Financial expenses
376
Financial income
(63)
Income from operations
(115)
721
(1,199)
552
(190)
Amortization and impairment of
acquired intangible assets
290
89
178
14
9
Impairment of goodwill
8
8
-
EBITA
183
818
(1,020)
567
(181)
Restructuring and acquisition-
related charges
381
118
115
9
140
Other items:
1,358
92
1,275
22
(32)
Respironics litigation provision
575
-
575
-
-
Respironics field-action
connected to the proposed
consent decree
363
-
363
-
-
Respironics field-action running
costs
224
-
224
-
-
Quality actions
175
81
94
-
-
Provision for a legal matter
31
-
31
-
-
Investment re-measurement loss
23
-
-
23
-
Gain on divestment of business
(35)
-
-
-
(35)
Remaining items
2
11
(12)
(1)
3
Adjusted EBITA *
1,921
1,028
369
597
(73)
Philips Group
Main countries in millions of EUR
Sales
Tangible and
intangible assets \u00b9
2025
Netherlands
2,546
1,592
United States
7,130
10,102
China
1,202
224
Japan
883
359
Germany
652
447
Other countries
5,421
1,333
Total main countries
17,834
14,057
2024
Netherlands
2,506
1,662
United States
7,227
11,607
China
1,153
250
Japan
886
396
Germany
653
392
Other countries
5,596
1,509
Total main countries
18,021
15,816
2023
Netherlands
2,390
1,624
United States
7,178
11,410
China
1,408
234
Japan
941
407
Germany
573
348
Other countries
5,679
1,527
Total main countries
18,169
15,550
1Consists of Property plant and equipment, Intangible assets excluding goodwill and Goodwill
6Income from operations
Sales composition and disaggregation
For information related to sales on a segment and geographical basis, refer to Information by segment and
main country.
Philips Group
Sales composition in millions of EUR
2025
2024
2023
Goods
12,089
12,198
12,419
Services
4,938
5,003
4,926
Royalties
434
466
434
Total sales from contracts with customers
17,461
17,667
17,779
Sales from other sources
373
354
390
Total sales
17,834
18,021
18,169
Philips Group
Disaggregation of sales per segment in millions of EUR
Sales at a point
in time
Sales over time
Total sales from
contracts with
customers
Sales from other
sources
Total sales
2025
Diagnosis & Treatment
5,286
3,157
8,443
88
8,531
Connected Care
3,042
1,749
4,792
284
5,076
Personal Health
3,659
13
3,672
1
3,673
Other
232
322
554
-
554
Philips Group
12,219
5,241
17,461
373
17,834
2024
Diagnosis & Treatment
5,655
3,070
8,725
65
8,790
Connected Care
2,959
1,886
4,845
289
5,134
Personal Health
3,471
15
3,486
-
3,486
Other
300
311
611
-
611
Philips Group
12,385
5,282
17,667
354
18,021
2023
Diagnosis & Treatment
5,768
2,980
8,749
76
8,825
Connected Care
2,970
1,854
4,824
314
5,138
Personal Health
3,586
16
3,602
-
3,602
Other
245
360
604
-
604
Philips Group
12,569
5,210
17,779
390
18,169
Philips Group
Disaggregation of sales per geographic area in millions of EUR
Sales at a point
in time
Sales over time
Total sales from
contracts with
customers
Sales from other
sources
Total sales
2025
Western Europe
2,606
1,291
3,897
24
3,921
North America
4,945
2,478
7,423
119
7,542
Other mature geographies
798
425
1,223
229
1,452
Mature geographies
8,349
4,194
12,543
372
12,915
Growth geographies
3,870
1,047
4,917
1
4,919
Sales
12,219
5,241
17,461
373
17,834
2024
Western Europe
2,698
1,254
3,951
28
3,978
North America
4,958
2,602
7,560
93
7,655
Other mature geographies
893
401
1,294
231
1,526
Mature geographies
8,549
4,256
12,805
353
13,159
Growth geographies
3,836
1,026
4,861
1
4,863
Sales
12,385
5,282
17,667
354
18,021
2023
Western Europe
2,552
1,221
3,770
49
3,819
North America
4,859
2,608
7,470
92
7,562
Other mature geographies
980
398
1,378
248
1,626
Mature geographies
8,392
4,227
12,618
389
13,007
Growth geographies
4,177
984
5,161
1
5,162
Sales
12,569
5,210
17,779
390
18,169
Total sales from other sources mainly relates to operating leases of EUR 215 million (2024: EUR 222 million;
2023: EUR 234 million). Sales represent revenue from external customers.
As of December\u00a031, 2025, the aggregate amount of the transaction price allocated to remaining performance
obligations from sales of goods and services was EUR 14,924 million (2024:15,632 million). The company
expects to recognize approximately 45% of the remaining performance obligations within 1 year. Revenue
expected to be recognized beyond 1 year is mostly related to longer term customer service and software
contracts.
Sales over time represents services and Other also includes royalties over time (2025: EUR 301 million; 2024:
EUR 277 million; 2023: EUR 283 million).
Sales per geographic area are reported based on country of destination.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-673": { "value": "
2Information by segment and main country
\"Icon_Accounting
Accounting policies
Segment accounting policies are the same as the accounting policies applied by the company. Operating
segments are components of the company\u2019s business activities for which separate financial information is
available that is evaluated regularly by the Chief Operating Decision-Maker (the Board of Management of the
company). The Board of Management decides how to allocate resources and assesses performance.
Reportable segments comprise the operating segments Diagnosis & Treatment, Connected Care and Personal
Health. Besides these reportable segments, segment Other comprises Philips\u2019 central Innovation & Design, IP
royalty activities, corporate central costs, and other minor items not allocated to the operating segments.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-675": { "value": "Accounting estimates and judgmentsDetermining reportable segments requires significant judgment and involves evaluating the information that is reviewed by the Chief Operating Decision-Maker (the Board of Management) to assess performance and allocate resources, in accordance with IFRS 8 'Operating Segments'.Accounting estimates and judgmentsSales-related accrualsThe company has sales promotions-related agreements with distributors and retailers designed to promote the sale of products. Among the programs are arrangements under which rebates and discounts can be earned by the distributors and retailers by attaining agreed upon sales levels, or for participating in specific marketing programs. Management estimates the sales-related accruals associated with these arrangements based on a combination of historical patterns and future expectations regarding which promotional targets are expected to be met by distributors and retailers. These estimated amounts are recorded as a reduction to revenue when the related product or service sales are recognized. Accrued customer rebates are presented as other current liabilities, unless there is a right to offset against the respective accounts receivable.", "dimensions": { "concept": "ifrs-full:ExplanationOfAssumptionAboutFutureWithSignificantRiskOfResultingInMaterialAdjustments", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-679": { "value": "
3Discontinued operations and assets classified as held for sale
\"Icon_Accounting
Accounting policies
Assets classified as held-for-sale
Non-current assets (or disposal groups) are classified as held-for-sale if their carrying amounts are expected to
be recovered through a sale transaction rather than through continuing use. Non-current assets (or disposal
groups) classified as held-for-sale are measured at the lower of their carrying amount or the fair value less
costs of disposal. Depreciation or amortization of an asset ceases when it is classified as held-for-sale. When
non-current assets (or disposal groups) are classified as held-for-sale, comparative balances prior to such date
are not represented in the Consolidated balance sheets.
Discontinued operations
A discontinued operation is a component of the company that has either been disposed of or is classified as
held-for-sale and represents a separate major line of business or geographical area of operations or is a part
of a single coordinated plan to dispose of a separate major line of business or geographical area of
operations. Any gain or loss from disposal, together with the results of these operations until the date of
disposal, are reported separately as discontinued operations in the Consolidated statements of income.
The financial information of discontinued operations is excluded from the respective captions in the
Consolidated financial statements and related notes for all periods presented. Comparatives are re-presented
for presentation of discontinued operations in the Consolidated statements of income and Consolidated
statements of cash flows.
Accounting estimates and judgments
The determination of the fair value less costs of disposal involves the use of estimates and assumptions that
tend to be uncertain. Circumstances to which these adjustments may relate include resolution of uncertainties
that arise from the terms of the disposal transaction, such as the resolution of purchase price adjustments and
indemnifications, resolution of uncertainties that arise from and are directly related to the operations of the
component before its disposal, such as environmental and assurance-type product warranty obligations
retained by the company, and the settlement of employee benefit plan obligations provided that the
settlement is directly related to the disposal transaction.
Philips Group
Discontinued operations, net of income taxes in millions of EUR
2025
2024
2023
Domestic Appliances
(1)
140
(2)
Other
(3)
2
(7)
Discontinued operations, net of income taxes
(4)
142
(10)
In 2024, Discontinued operations related to the Domestic Appliances business included a tax benefit of EUR
140 million relating to tax audit settlements of prior years.
Certain costs related to other divestments, which were previously reported as discontinued operations,
resulted in a net loss of EUR (3) million in 2025, a net gain of EUR 2 million in 2024 and a net loss of EUR (7)
million in 2023 .
Philips Group
Net cash provided by (used for) discontinued operations in millions of EUR
2025
2024
2023
Net cash provided by (used for) operating activities
(10)
(13)
123
Net cash provided by (used for) investing activities
-
-
-
Net cash provided by (used for) discontinued operations
(10)
(13)
123
In 2025 and 2024, net cash used for discontinued operations consisted primarily of cash flows related to the
tax claims from the previously divested business. In 2023, net cash provided by discontinued operations
consisted primarily of a refund of advance tax payments related to a previously divested business.
Assets classified as held for sale
As of December\u00a031, 2025, assets held for sale primary consisted of assets and liabilities of EUR 59\u00a0million,
directly associated with a business that is to be sold within the next financial year.
As of December\u00a031, 2024, there were no assets held for sale.
", "dimensions": { "concept": "ifrs-full:DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-677": { "value": "
3Discontinued operations and assets classified as held for sale
\"Icon_Accounting
Accounting policies
Assets classified as held-for-sale
Non-current assets (or disposal groups) are classified as held-for-sale if their carrying amounts are expected to
be recovered through a sale transaction rather than through continuing use. Non-current assets (or disposal
groups) classified as held-for-sale are measured at the lower of their carrying amount or the fair value less
costs of disposal. Depreciation or amortization of an asset ceases when it is classified as held-for-sale. When
non-current assets (or disposal groups) are classified as held-for-sale, comparative balances prior to such date
are not represented in the Consolidated balance sheets.
Discontinued operations
A discontinued operation is a component of the company that has either been disposed of or is classified as
held-for-sale and represents a separate major line of business or geographical area of operations or is a part
of a single coordinated plan to dispose of a separate major line of business or geographical area of
operations. Any gain or loss from disposal, together with the results of these operations until the date of
disposal, are reported separately as discontinued operations in the Consolidated statements of income.
The financial information of discontinued operations is excluded from the respective captions in the
Consolidated financial statements and related notes for all periods presented. Comparatives are re-presented
for presentation of discontinued operations in the Consolidated statements of income and Consolidated
statements of cash flows.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-676": { "value": "
3Discontinued operations and assets classified as held for sale
\"Icon_Accounting
Accounting policies
Assets classified as held-for-sale
Non-current assets (or disposal groups) are classified as held-for-sale if their carrying amounts are expected to
be recovered through a sale transaction rather than through continuing use. Non-current assets (or disposal
groups) classified as held-for-sale are measured at the lower of their carrying amount or the fair value less
costs of disposal. Depreciation or amortization of an asset ceases when it is classified as held-for-sale. When
non-current assets (or disposal groups) are classified as held-for-sale, comparative balances prior to such date
are not represented in the Consolidated balance sheets.
Discontinued operations
A discontinued operation is a component of the company that has either been disposed of or is classified as
held-for-sale and represents a separate major line of business or geographical area of operations or is a part
of a single coordinated plan to dispose of a separate major line of business or geographical area of
operations. Any gain or loss from disposal, together with the results of these operations until the date of
disposal, are reported separately as discontinued operations in the Consolidated statements of income.
The financial information of discontinued operations is excluded from the respective captions in the
Consolidated financial statements and related notes for all periods presented. Comparatives are re-presented
for presentation of discontinued operations in the Consolidated statements of income and Consolidated
statements of cash flows.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-680": { "value": "
3Discontinued operations and assets classified as held for sale
\"Icon_Accounting
Accounting policies
Assets classified as held-for-sale
Non-current assets (or disposal groups) are classified as held-for-sale if their carrying amounts are expected to
be recovered through a sale transaction rather than through continuing use. Non-current assets (or disposal
groups) classified as held-for-sale are measured at the lower of their carrying amount or the fair value less
costs of disposal. Depreciation or amortization of an asset ceases when it is classified as held-for-sale. When
non-current assets (or disposal groups) are classified as held-for-sale, comparative balances prior to such date
are not represented in the Consolidated balance sheets.
Accounting estimates and judgments
The determination of the fair value less costs of disposal involves the use of estimates and assumptions that
tend to be uncertain. Circumstances to which these adjustments may relate include resolution of uncertainties
that arise from the terms of the disposal transaction, such as the resolution of purchase price adjustments and
indemnifications, resolution of uncertainties that arise from and are directly related to the operations of the
component before its disposal, such as environmental and assurance-type product warranty obligations
retained by the company, and the settlement of employee benefit plan obligations provided that the
settlement is directly related to the disposal transaction.
Assets classified as held for sale
As of December\u00a031, 2025, assets held for sale primary consisted of assets and liabilities of EUR 59\u00a0million,
directly associated with a business that is to be sold within the next financial year.
As of December\u00a031, 2024, there were no assets held for sale.
", "dimensions": { "concept": "ifrs-full:DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-678": { "value": "
3Discontinued operations and assets classified as held for sale
\"Icon_Accounting
Discontinued operations
A discontinued operation is a component of the company that has either been disposed of or is classified as
held-for-sale and represents a separate major line of business or geographical area of operations or is a part
of a single coordinated plan to dispose of a separate major line of business or geographical area of
operations. Any gain or loss from disposal, together with the results of these operations until the date of
disposal, are reported separately as discontinued operations in the Consolidated statements of income.
The financial information of discontinued operations is excluded from the respective captions in the
Consolidated financial statements and related notes for all periods presented. Comparatives are re-presented
for presentation of discontinued operations in the Consolidated statements of income and Consolidated
statements of cash flows.
Accounting estimates and judgments
The determination of the fair value less costs of disposal involves the use of estimates and assumptions that
tend to be uncertain. Circumstances to which these adjustments may relate include resolution of uncertainties
that arise from the terms of the disposal transaction, such as the resolution of purchase price adjustments and
indemnifications, resolution of uncertainties that arise from and are directly related to the operations of the
component before its disposal, such as environmental and assurance-type product warranty obligations
retained by the company, and the settlement of employee benefit plan obligations provided that the
settlement is directly related to the disposal transaction.
Philips Group
Discontinued operations, net of income taxes in millions of EUR
2025
2024
2023
Domestic Appliances
(1)
140
(2)
Other
(3)
2
(7)
Discontinued operations, net of income taxes
(4)
142
(10)
In 2024, Discontinued operations related to the Domestic Appliances business included a tax benefit of EUR
140 million relating to tax audit settlements of prior years.
Certain costs related to other divestments, which were previously reported as discontinued operations,
resulted in a net loss of EUR (3) million in 2025, a net gain of EUR 2 million in 2024 and a net loss of EUR (7)
million in 2023 .
Philips Group
Net cash provided by (used for) discontinued operations in millions of EUR
2025
2024
2023
Net cash provided by (used for) operating activities
(10)
(13)
123
Net cash provided by (used for) investing activities
-
-
-
Net cash provided by (used for) discontinued operations
(10)
(13)
123
In 2025 and 2024, net cash used for discontinued operations consisted primarily of cash flows related to the
tax claims from the previously divested business. In 2023, net cash provided by discontinued operations
consisted primarily of a refund of advance tax payments related to a previously divested business.", "dimensions": { "concept": "ifrs-full:DisclosureOfDiscontinuedOperationsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-681": { "value": "
3Discontinued operations and assets classified as held for sale
Discontinued operations
A discontinued operation is a component of the company that has either been disposed of or is classified as
held-for-sale and represents a separate major line of business or geographical area of operations or is a part
of a single coordinated plan to dispose of a separate major line of business or geographical area of
operations. Any gain or loss from disposal, together with the results of these operations until the date of
disposal, are reported separately as discontinued operations in the Consolidated statements of income.
The financial information of discontinued operations is excluded from the respective captions in the
Consolidated financial statements and related notes for all periods presented. Comparatives are re-presented
for presentation of discontinued operations in the Consolidated statements of income and Consolidated
statements of cash flows.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDiscontinuedOperationsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-683": { "value": "
4Acquisitions and divestments
\"Icon_Accounting
Accounting policies
Acquisitions
The company accounts for business combinations using the acquisition method when control is transferred to
the group. The consideration transferred in the acquisition is generally measured at fair value, as are the
identifiable net assets acquired and the liabilities assumed. Transaction costs are expensed as incurred. Any
contingent consideration is measured at fair value at the acquisition date. Subsequent changes in the fair
value of the contingent consideration are recognized in the consolidated statements of income. Changes to
the initial fair value of the acquired assets and liabilities, based on new information about the circumstances
at the acquisition date, can be made up to 12 months after the acquisition date.
Divestments
Upon loss of control, the company derecognizes the assets and liabilities of the subsidiary, any non-controlling
interests and the other components of equity related to the subsidiary. Any surplus or deficit arising from the loss of
control is recognized in the Consolidated statements of income. If the company retains any interest in the previous
subsidiary, such interest is measured at fair value at the date the control is lost. Subsequently it is accounted for as
either an equity-accounted investee (associate) or as a financial asset, depending on the level of influence retained.
Further information on loss of control can be found in Discontinued operations and assets classified as held for sale .
Accounting estimates and judgments
Intangible assets acquired in a business acquisition and the financial liability related to non-controlling
interest are measured at fair value at the date of the acquisition.
To determine the fair value of intangible assets at the acquisition date, estimates and assumptions are
required. The valuation of the identifiable intangible assets involves estimates of expected sales, earnings and/
or future cash flows and require use of key assumptions, such as discount rate, royalty rate and growth rates.
Estimates are also applied when determining the fair value of legal cases and tax positions in the acquired
entity. The fair value is based on estimates of the likelihood, the expected timing and the amount of the
potential cash outflow. Contingent liabilities relating to legal cases and non-income tax positions of the
acquired entity are recognized at fair value at the acquisition date in accordance with IFRS 3, irrespective of
whether an outflow will be required to settle the obligation. After initial recognition and until the liability is
settled, cancelled or expired, the liability is measured at the higher of the amount that would be recognized
in accordance with IAS 37 'Provisions, contingent liabilities and contingent assets' and the initial liability
amount. For income tax positions, the company applies IAS 12 'Income taxes', which requires recognition of
provisions only when the likelihood of cash outflow is considered probable.
2025
Acquisitions
Philips did not complete any acquisitions during 2025.
Divestments
During 2025, Philips completed two divestments, generating total net consideration of EUR 77 million. The
combined result of these divestments was a loss of EUR (26) million, recognized within Other business
expenses in the Consolidated statement of income. The most notable transaction was the divestment of the
Emergency Care business. On December 31, 2025, Philips completed the sale to Bridgefield Capital, a US-based
investment firm, and the parties entered into an exclusive brand license agreement as well as a transition
service and manufacturing agreement. The divestments were not material in the context of the Group\u2019s
financial position, performance or cash flows and did not meet the quantitative or qualitative thresholds for
separate disclosure under IFRS.
2024
Acquisitions
Philips did not make any acquisitions in 2024.
Divestments
During 2024 Philips completed four divestments, generating net cash consideration of EUR 118 million. These
transactions resulted in EUR 8 million gain, which has been recognized within Other business income in the
Consolidated statements of income. The divestments were individually and collectively not material to the
Group.", "dimensions": { "concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-684": { "value": "
4Acquisitions and divestments
\"Icon_Accounting
Accounting policies
Acquisitions
The company accounts for business combinations using the acquisition method when control is transferred to
the group. The consideration transferred in the acquisition is generally measured at fair value, as are the
identifiable net assets acquired and the liabilities assumed. Transaction costs are expensed as incurred. Any
contingent consideration is measured at fair value at the acquisition date. Subsequent changes in the fair
value of the contingent consideration are recognized in the consolidated statements of income. Changes to
the initial fair value of the acquired assets and liabilities, based on new information about the circumstances
at the acquisition date, can be made up to 12 months after the acquisition date.
Divestments
Upon loss of control, the company derecognizes the assets and liabilities of the subsidiary, any non-controlling
interests and the other components of equity related to the subsidiary. Any surplus or deficit arising from the loss of
control is recognized in the Consolidated statements of income. If the company retains any interest in the previous
subsidiary, such interest is measured at fair value at the date the control is lost. Subsequently it is accounted for as
either an equity-accounted investee (associate) or as a financial asset, depending on the level of influence retained.
Further information on loss of control can be found in Discontinued operations and assets classified as held for sale .
11Goodwill
\"Icon_Accounting
Accounting policies
The measurement of goodwill at initial recognition is described in the Acquisitions and divestments note.
Goodwill is subsequently measured at cost, less accumulated impairment losses.
Goodwill is not amortized but is instead tested for impairment annually in the fourth quarter, or more
frequently if indicators of potential impairment exist. Internal and external sources of information are
considered to assess if there are indicators that an asset or groups of cash-generating units (CGUs) may be
impaired. Goodwill is allocated to groups of CGUs and tested for impairment at the Business level (one level
below segment), which represents the lowest level at which goodwill is monitored internally for management
purposes. An impairment loss is recognized in the Consolidated statements of income whenever and to the
extent that the carrying amount of a group of CGUs exceeds the recoverable amount for the group of CGUs,
whichever is the greater, its value in use or its fair value less cost of disposal. Value in use is measured as the
present value of future cash flows expected to be generated by the asset. Fair value less cost of disposal is
measured as the amount obtained from the sale of an asset in an arm\u2019s length transaction, less costs of
disposal.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-682": { "value": "
4Acquisitions and divestments
\"Icon_Accounting
Accounting policies
Acquisitions
The company accounts for business combinations using the acquisition method when control is transferred to
the group. The consideration transferred in the acquisition is generally measured at fair value, as are the
identifiable net assets acquired and the liabilities assumed. Transaction costs are expensed as incurred. Any
contingent consideration is measured at fair value at the acquisition date. Subsequent changes in the fair
value of the contingent consideration are recognized in the consolidated statements of income. Changes to
the initial fair value of the acquired assets and liabilities, based on new information about the circumstances
at the acquisition date, can be made up to 12 months after the acquisition date.
Divestments
Upon loss of control, the company derecognizes the assets and liabilities of the subsidiary, any non-controlling
interests and the other components of equity related to the subsidiary. Any surplus or deficit arising from the loss of
control is recognized in the Consolidated statements of income. If the company retains any interest in the previous
subsidiary, such interest is measured at fair value at the date the control is lost. Subsequently it is accounted for as
either an equity-accounted investee (associate) or as a financial asset, depending on the level of influence retained.
Further information on loss of control can be found in Discontinued operations and assets classified as held for sale .
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-687": { "value": "
4Acquisitions and divestments
Accounting estimates and judgments
Intangible assets acquired in a business acquisition and the financial liability related to non-controlling
interest are measured at fair value at the date of the acquisition.
To determine the fair value of intangible assets at the acquisition date, estimates and assumptions are
required. The valuation of the identifiable intangible assets involves estimates of expected sales, earnings and/
or future cash flows and require use of key assumptions, such as discount rate, royalty rate and growth rates.
2025
Acquisitions
Philips did not complete any acquisitions during 2025.
2024
Acquisitions
Philips did not make any acquisitions in 2024.
6Income from operations
11Goodwill
\"Icon_Accounting
Accounting policies
The measurement of goodwill at initial recognition is described in the Acquisitions and divestments note.
Goodwill is subsequently measured at cost, less accumulated impairment losses.
Goodwill is not amortized but is instead tested for impairment annually in the fourth quarter, or more
frequently if indicators of potential impairment exist. Internal and external sources of information are
considered to assess if there are indicators that an asset or groups of cash-generating units (CGUs) may be
impaired. Goodwill is allocated to groups of CGUs and tested for impairment at the Business level (one level
below segment), which represents the lowest level at which goodwill is monitored internally for management
purposes. An impairment loss is recognized in the Consolidated statements of income whenever and to the
extent that the carrying amount of a group of CGUs exceeds the recoverable amount for the group of CGUs,
whichever is the greater, its value in use or its fair value less cost of disposal. Value in use is measured as the
present value of future cash flows expected to be generated by the asset. Fair value less cost of disposal is
measured as the amount obtained from the sale of an asset in an arm\u2019s length transaction, less costs of
disposal.
\"Icon_Accounting
Accounting estimates and judgments
The cash flow projections used in the value in use calculations for goodwill impairment testing contain various
judgments and estimations as described in the \u2018key assumptions\u2019 section.
The changes in 2024 and 2025 were:
Philips Group
Goodwill in millions of EUR
2025
2024
Balance as of January 1
Cost
12,777
12,133
Impairments
(2,394)
(2,256)
Book value
10,383
9,876
Divestments and transfers to assets classified as held for sale
(53)
(22)
Translation differences and other
(1,058)
528
Total change
(1,112)
507
Balance as of December 31
Cost
11,367
12,777
Impairments
(2,096)
(2,394)
Book value
9,271
10,383
In 2025, goodwill decreased by EUR 1,112 million, primarily as a result of translation differences.
Goodwill impairment testing
During 2025, there were no goodwill impairments recorded.
Goodwill allocated to the Businesses (groups of cash-generating units) as of December\u00a031, 2025, is presented
in the accompanying table:
Philips Group
Goodwill by business in millions of EUR
2025
2024
Monitoring
3,752
4,194
Image-Guided Therapy
2,888
3,216
Precision Diagnosis
1,289
1,440
Sleep & Respiratory Care
625
694
Personal Health
469
509
Enterprise Informatics
248
331
Book value
9,271
10,383
The carrying amount of each group of CGUs is compared to the recoverable amount of the group of CGUs.
Unless otherwise noted, the recoverable amount for each group of CGUs is based on value-in-use calculations.
Cash flow projections were determined using Philips management's internal forecasts that cover an initial
forecast period from 2026 to 2028. Projections were extrapolated using the growth rates disclosed in the
accompanying table for an extrapolation period of 4 years (2029-2032), after which a terminal value was
calculated per 2033. However, when appropriate, management may apply a longer explicit forecast period for
certain CGUs. For the terminal value calculation, growth rates were capped at a historical long-term average
growth rate. The company uses scenarios in the business forecasting process and the most reasonable and
supportable assumptions that represent management\u2019s best estimate are used as the basis for the value-in-use
calculations.
Key assumptions
Key assumptions used in the value-in-use calculations were compound sales growth rates, EBITA* in the
terminal value and the rates used for discounting the projected cash flows.
The compound sales growth rate is the annualized steady nominal growth rate over the forecast period
calculated with reference to the latest full year of actual sales as the base for the growth. The compound sales
growth rate used to calculate the terminal value is only applied to the first year after the extrapolation
period, after which no further growth is assumed for the terminal value calculation.
The compound sales growth rates and EBITA* used to estimate cash flows are based on past performance,
external market growth assumptions and industry long-term growth averages. EBITA* for each group of CGUs
is expected to increase over the projection period as a result of volume growth and cost efficiencies. By their
nature, these assumptions involve risk and uncertainty because they relate to future events and circumstances
and there are many factors that could cause actual results and developments to differ materially from the
plans, goals and expectations set forth in these assumptions.
The rates used for discounting the projected cash flows in goodwill impairment testing is based on a weighted
cost of capital (WACC), which in turn is based on business-specific inputs along with other inputs as mentioned
below. The WACC is based on post-tax cost of equity and cost of debt, and is further calculated based on
market data and inputs to accurately capture changes to the time value of money, such as the risk-free
interest rate, the beta factor and country risk premium. In order to properly reflect the different risk profiles
of different businesses, a WACC is determined for each business. As such, the beta factor is determined based
on a selection of peer companies, which can differ per business. Different businesses have different
geographical footprints, resulting in business-specific inputs for variables like country risk. Philips performs the
value-in-use calculations using post-tax cash flows and discount rate, the implicit pre-tax rate discount rate is
derived from an iterative calculation for disclosure purposes.
The values assigned to the key assumptions used for the value-in-use calculations for 2025 and 2024 were:
Philips Group
Key assumptions\u00a02025
Compound sales growth rate
Initial forecast
period
Extrapolation
period
Used to calculate
terminal value
Pre-tax discount
rates
Monitoring
5.6%
4.3%
2.5%
9.0%
Image-Guided Therapy
6.7%
4.6%
2.5%
9.8%
Precision Diagnosis
3.1%
3.8%
2.5%
10.4%
Sleep & Respiratory Care
10.8%
7.3%
2.5%
11.8%
Personal Health
5.5%
4.2%
2.5%
9.9%
Enterprise Informatics
3.9%
3.1%
2.5%
9.6%
Philips Group
Key assumptions \u00a02024
compound sales growth rate
initial forecast
period
extrapolation
period
used to calculate
terminal value
pre-tax discount
rates
Monitoring
5.3%
4.7%
2.5%
9.1%
Image-Guided Therapy
6.3%
5.0%
2.5%
9.7%
Precision Diagnosis
2.4%
3.6%
2.5%
9.9%
Sleep & Respiratory Care
10.1%
7.3%
2.5%
10.3%
Personal Health
5.1%
4.2%
2.5%
9.9%
Enterprise Informatics
4.4%
5.4%
2.5%
8.9%
Sensitivity to changes in assumptions
Based on the annual impairment test, the estimated recoverable amount of the Enterprise Informatics CGU
exceeds the carrying amount by EUR 148\u00a0million. It was noted that an increase of 150 basis points in the pre-
tax discount rate, a 250 basis point decline in the compound sales growth rate or a 24% decrease in EBITA* in
the final year would, individually, cause its recoverable amount to fall to the level of its carrying value.
The results of the annual impairment tests of Monitoring, Image-Guided Therapy, Precision Diagnosis, Sleep &
Respiratory Care and Personal Health indicate that a reasonably possible change in key assumptions would
not cause the value in use to fall to the level of the carrying value.
*The definition of this non-IFRS measure and a reconciliation to the IFRS measure is included in Information by segment and
main country
12Intangible assets excluding goodwill
\"Icon_Accounting
Accounting policies
Acquired finite-lived intangible assets are amortized using the straight-line method over their estimated
useful life. The useful lives are evaluated annually. Intangible assets are initially capitalized at cost, with the
exception of intangible assets acquired as part of a business combination, which are capitalized at their
acquisition date fair value.
The company expenses all research costs as incurred. Expenditure on development activities, whereby research
findings are applied to a plan or design for the production of new or substantially improved products and
processes, is capitalized as an intangible asset if the product or process is technically and commercially
feasible, the company has sufficient resources and the intention to complete development and can measure
the attributable expenditure reliably.
The capitalized development expenditure comprises of all directly attributable costs (including the cost of
materials and direct labor). Other development expenditures and expenditures on research activities are
recognized in the Consolidated statements of income. Capitalized development expenditure is stated at cost
less accumulated amortization and impairment losses. Amortization of capitalized development expenditure
is charged to the Consolidated statements of income on a straight-line basis over the estimated useful lives of
the intangible assets.
Philips Group
Expected useful lives of intangible assets excluding goodwill in years
Brand names
2-20
Customer relationships
2-25
Technology
3-20
Other
1-10
Software
1-10
Product development
3-10
The weighted average expected remaining life of brand names, customer relationships, technology and other
intangible assets is 8.2 years as of December\u00a031, 2025 (2024 : 8.5 years ).
Impairment of intangible assets not yet ready for use
Intangible assets not yet ready for use are not amortized but are tested for impairment annually and whenever
impairment indicators require. In the case of intangible assets not yet ready for use, either internal or external
sources of information are considered to assess if there are indicators that an asset or a CGU may be impaired.
Impairment of non-financial assets other than goodwill, intangible assets not yet ready for use, inventories
and deferred tax assets
Non-financial assets other than goodwill, intangible assets not yet ready for use, inventories and deferred tax
assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying
amount of an asset may not be recoverable. Recoverability of assets to be held and used is assessed by a
comparison of the carrying amount of an asset with the greater of its value in use and fair value less cost of
disposal. Value in use is measured as the present value of future cash flows expected to be generated by the
asset. Fair value less cost of disposal is measured as the amount obtained from a sale of an asset in an arm\u2019s
length transaction, less costs of disposal. If the carrying amount of an asset is deemed not recoverable, an
impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the
recoverable amount. The review for impairment is carried out at the level where cash flows occur that are
independent of other cash flows.
Impairment losses recognized in prior periods for intangible assets other than goodwill are assessed at each
reporting date for any indications that the loss has decreased or no longer exists. An impairment loss is
reversed if and to the extent that there has been a change in the estimates used to determine the recoverable
amount. The loss is reversed only to the extent that the asset\u2019s carrying amount does not exceed the carrying
amount that would have been determined, net of depreciation or amortization, if no impairment loss had
been recognized. Reversals of impairment are recognized in the Consolidated statements of income.
\"Icon_Accounting
Accounting estimates and judgments
The cash flow projections used in the value in use calculations for intangible assets excluding goodwill contain
various judgments and estimations. For intangible assets excluding goodwill, estimates are required to
determine the (remaining) useful lives.
Philips did not make any acquisitions in 2025 (2024: no acquisitions).
Impairments in 2025 amounted to EUR 58 million (2024: EUR 188 million) and mainly relate to divested
businesses.
The company uses scenarios in the business forecasting process, and the most reasonable and supportable
assumptions that represent management\u2019s best estimate are used as the basis for the value-in-use calculations.
The amortization and impairment of intangible assets is further specified in Income from operations.
The most notable intangible assets as of December\u00a031, 2025, relate to the BioTelemetry customer relationships
and technology with a carrying value of EUR 253 million and EUR 76 million and a remaining amortization
period of 11 years and 7 years, respectively, and Spectranetics customer relationships and technology with a
carrying value of EUR 210 million and EUR 126 million and a remaining amortization period of 12 years and 7
years, respectively. The most notable intangible assets as of December\u00a031, 2024, relate to the BioTelemetry
customer relationships and technology with value of EUR 316 million and EUR 108 million and a remaining
amortization period of 12 years and 8 years, respectively, and Spectranetics customer relationships and
technology with a carrying value of EUR 256 million and EUR 164 million and a remaining amortization period
of 13 years and 8 years, respectively.
Ph ilips Group
Intangible assets excluding goodwill in millions of EUR
Brand names
Customer
relationships
Technology
Product
development
Product
development in
progress
Software
Other
Total
Balance as of January 1, 2024
Cost
629
2,593
2,908
2,432
635
929
139
10,265
Amortization / impairments
(511)
(1,718)
(1,895)
(2,096)
(91)
(662)
(101)
(7,075)
Book value
118
875
1,013
336
544
267
38
3,190
Additions
-
-
36
-
240
85
-
361
Assets available for use
-
-
-
266
(266)
-
-
-
Amortization
(19)
(92)
(138)
(162)
-
(95)
(1)
(506)
Impairments
(7)
-
(135)
(13)
(24)
(7)
(1)
(188)
Divestments and transfers to assets classified as held for sale
-
(11)
-
-
-
-
1
(10)
Translation differences and other
6
51
79
(9)
29
15
(37)
134
Total change
(20)
(52)
(158)
82
(21)
(3)
(38)
(209)
Balance as of December 31, 2024
Cost
671
2,722
2,900
2,659
624
984
-
10,559
Amortization / impairments
(573)
(1,899)
(2,044)
(2,241)
(101)
(719)
-
(7,578)
Book value
98
823
855
418
523
265
-
2,982
Additions
-
-
37
-
261
93
-
393
Assets available for use
-
-
-
321
(321)
-
-
-
Amortization
(17)
(77)
(118)
(162)
-
(90)
-
(464)
Impairments
-
-
(27)
-
(16)
(14)
-
(58)
Divestments and transfers to assets classified as held for sale
-
(1)
-
(58)
(5)
-
-
(63)
Translation differences and other
(8)
(86)
(64)
(19)
(40)
(4)
-
(220)
Total change
(25)
(164)
(171)
83
(120)
(14)
-
(413)
Balance as of December 31, 2025
Cost
530
2,423
2,590
2,705
510
995
-
9,752
Amortization / impairments
(457)
(1,764)
(1,906)
(2,204)
(108)
(745)
-
(7,183)
Book Value
73
659
684
500
403
250
-
2,569
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-686": { "value": "
4Acquisitions and divestments
Accounting estimates and judgments
Intangible assets acquired in a business acquisition and the financial liability related to non-controlling
interest are measured at fair value at the date of the acquisition.
To determine the fair value of intangible assets at the acquisition date, estimates and assumptions are
required. The valuation of the identifiable intangible assets involves estimates of expected sales, earnings and/
or future cash flows and require use of key assumptions, such as discount rate, royalty rate and growth rates.
2025
Acquisitions
Philips did not complete any acquisitions during 2025.
2024
Acquisitions
Philips did not make any acquisitions in 2024.
12Intangible assets excluding goodwill
\"Icon_Accounting
Accounting policies
Acquired finite-lived intangible assets are amortized using the straight-line method over their estimated
useful life. The useful lives are evaluated annually. Intangible assets are initially capitalized at cost, with the
exception of intangible assets acquired as part of a business combination, which are capitalized at their
acquisition date fair value.
The company expenses all research costs as incurred. Expenditure on development activities, whereby research
findings are applied to a plan or design for the production of new or substantially improved products and
processes, is capitalized as an intangible asset if the product or process is technically and commercially
feasible, the company has sufficient resources and the intention to complete development and can measure
the attributable expenditure reliably.
The capitalized development expenditure comprises of all directly attributable costs (including the cost of
materials and direct labor). Other development expenditures and expenditures on research activities are
recognized in the Consolidated statements of income. Capitalized development expenditure is stated at cost
less accumulated amortization and impairment losses. Amortization of capitalized development expenditure
is charged to the Consolidated statements of income on a straight-line basis over the estimated useful lives of
the intangible assets.
Philips Group
Expected useful lives of intangible assets excluding goodwill in years
Brand names
2-20
Customer relationships
2-25
Technology
3-20
Other
1-10
Software
1-10
Product development
3-10
The weighted average expected remaining life of brand names, customer relationships, technology and other
intangible assets is 8.2 years as of December\u00a031, 2025 (2024 : 8.5 years ).
Impairment of intangible assets not yet ready for use
Intangible assets not yet ready for use are not amortized but are tested for impairment annually and whenever
impairment indicators require. In the case of intangible assets not yet ready for use, either internal or external
sources of information are considered to assess if there are indicators that an asset or a CGU may be impaired.
Impairment of non-financial assets other than goodwill, intangible assets not yet ready for use, inventories
and deferred tax assets
Non-financial assets other than goodwill, intangible assets not yet ready for use, inventories and deferred tax
assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying
amount of an asset may not be recoverable. Recoverability of assets to be held and used is assessed by a
comparison of the carrying amount of an asset with the greater of its value in use and fair value less cost of
disposal. Value in use is measured as the present value of future cash flows expected to be generated by the
asset. Fair value less cost of disposal is measured as the amount obtained from a sale of an asset in an arm\u2019s
length transaction, less costs of disposal. If the carrying amount of an asset is deemed not recoverable, an
impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the
recoverable amount. The review for impairment is carried out at the level where cash flows occur that are
independent of other cash flows.
Impairment losses recognized in prior periods for intangible assets other than goodwill are assessed at each
reporting date for any indications that the loss has decreased or no longer exists. An impairment loss is
reversed if and to the extent that there has been a change in the estimates used to determine the recoverable
amount. The loss is reversed only to the extent that the asset\u2019s carrying amount does not exceed the carrying
amount that would have been determined, net of depreciation or amortization, if no impairment loss had
been recognized. Reversals of impairment are recognized in the Consolidated statements of income.
\"Icon_Accounting
Accounting estimates and judgments
The cash flow projections used in the value in use calculations for intangible assets excluding goodwill contain
various judgments and estimations. For intangible assets excluding goodwill, estimates are required to
determine the (remaining) useful lives.
Philips did not make any acquisitions in 2025 (2024: no acquisitions).
Impairments in 2025 amounted to EUR 58 million (2024: EUR 188 million) and mainly relate to divested
businesses.
The company uses scenarios in the business forecasting process, and the most reasonable and supportable
assumptions that represent management\u2019s best estimate are used as the basis for the value-in-use calculations.
The amortization and impairment of intangible assets is further specified in Income from operations.
The most notable intangible assets as of December\u00a031, 2025, relate to the BioTelemetry customer relationships
and technology with a carrying value of EUR 253 million and EUR 76 million and a remaining amortization
period of 11 years and 7 years, respectively, and Spectranetics customer relationships and technology with a
carrying value of EUR 210 million and EUR 126 million and a remaining amortization period of 12 years and 7
years, respectively. The most notable intangible assets as of December\u00a031, 2024, relate to the BioTelemetry
customer relationships and technology with value of EUR 316 million and EUR 108 million and a remaining
amortization period of 12 years and 8 years, respectively, and Spectranetics customer relationships and
technology with a carrying value of EUR 256 million and EUR 164 million and a remaining amortization period
of 13 years and 8 years, respectively.
Ph ilips Group
Intangible assets excluding goodwill in millions of EUR
Brand names
Customer
relationships
Technology
Product
development
Product
development in
progress
Software
Other
Total
Balance as of January 1, 2024
Cost
629
2,593
2,908
2,432
635
929
139
10,265
Amortization / impairments
(511)
(1,718)
(1,895)
(2,096)
(91)
(662)
(101)
(7,075)
Book value
118
875
1,013
336
544
267
38
3,190
Additions
-
-
36
-
240
85
-
361
Assets available for use
-
-
-
266
(266)
-
-
-
Amortization
(19)
(92)
(138)
(162)
-
(95)
(1)
(506)
Impairments
(7)
-
(135)
(13)
(24)
(7)
(1)
(188)
Divestments and transfers to assets classified as held for sale
-
(11)
-
-
-
-
1
(10)
Translation differences and other
6
51
79
(9)
29
15
(37)
134
Total change
(20)
(52)
(158)
82
(21)
(3)
(38)
(209)
Balance as of December 31, 2024
Cost
671
2,722
2,900
2,659
624
984
-
10,559
Amortization / impairments
(573)
(1,899)
(2,044)
(2,241)
(101)
(719)
-
(7,578)
Book value
98
823
855
418
523
265
-
2,982
Additions
-
-
37
-
261
93
-
393
Assets available for use
-
-
-
321
(321)
-
-
-
Amortization
(17)
(77)
(118)
(162)
-
(90)
-
(464)
Impairments
-
-
(27)
-
(16)
(14)
-
(58)
Divestments and transfers to assets classified as held for sale
-
(1)
-
(58)
(5)
-
-
(63)
Translation differences and other
(8)
(86)
(64)
(19)
(40)
(4)
-
(220)
Total change
(25)
(164)
(171)
83
(120)
(14)
-
(413)
Balance as of December 31, 2025
Cost
530
2,423
2,590
2,705
510
995
-
9,752
Amortization / impairments
(457)
(1,764)
(1,906)
(2,204)
(108)
(745)
-
(7,183)
Book Value
73
659
684
500
403
250
-
2,569
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-685": { "value": "
4Acquisitions and divestments
2025
Acquisitions
Philips did not complete any acquisitions during 2025.
2024
Acquisitions
Philips did not make any acquisitions in 2024.
6Income from operations
11Goodwill
\"Icon_Accounting
Accounting policies
The measurement of goodwill at initial recognition is described in the Acquisitions and divestments note.
Goodwill is subsequently measured at cost, less accumulated impairment losses.
Goodwill is not amortized but is instead tested for impairment annually in the fourth quarter, or more
frequently if indicators of potential impairment exist. Internal and external sources of information are
considered to assess if there are indicators that an asset or groups of cash-generating units (CGUs) may be
impaired. Goodwill is allocated to groups of CGUs and tested for impairment at the Business level (one level
below segment), which represents the lowest level at which goodwill is monitored internally for management
purposes. An impairment loss is recognized in the Consolidated statements of income whenever and to the
extent that the carrying amount of a group of CGUs exceeds the recoverable amount for the group of CGUs,
whichever is the greater, its value in use or its fair value less cost of disposal. Value in use is measured as the
present value of future cash flows expected to be generated by the asset. Fair value less cost of disposal is
measured as the amount obtained from the sale of an asset in an arm\u2019s length transaction, less costs of
disposal.
\"Icon_Accounting
Accounting estimates and judgments
The cash flow projections used in the value in use calculations for goodwill impairment testing contain various
judgments and estimations as described in the \u2018key assumptions\u2019 section.
The changes in 2024 and 2025 were:
Philips Group
Goodwill in millions of EUR
2025
2024
Balance as of January 1
Cost
12,777
12,133
Impairments
(2,394)
(2,256)
Book value
10,383
9,876
Divestments and transfers to assets classified as held for sale
(53)
(22)
Translation differences and other
(1,058)
528
Total change
(1,112)
507
Balance as of December 31
Cost
11,367
12,777
Impairments
(2,096)
(2,394)
Book value
9,271
10,383
In 2025, goodwill decreased by EUR 1,112 million, primarily as a result of translation differences.
Goodwill impairment testing
During 2025, there were no goodwill impairments recorded.
Goodwill allocated to the Businesses (groups of cash-generating units) as of December\u00a031, 2025, is presented
in the accompanying table:
Philips Group
Goodwill by business in millions of EUR
2025
2024
Monitoring
3,752
4,194
Image-Guided Therapy
2,888
3,216
Precision Diagnosis
1,289
1,440
Sleep & Respiratory Care
625
694
Personal Health
469
509
Enterprise Informatics
248
331
Book value
9,271
10,383
The carrying amount of each group of CGUs is compared to the recoverable amount of the group of CGUs.
Unless otherwise noted, the recoverable amount for each group of CGUs is based on value-in-use calculations.
Cash flow projections were determined using Philips management's internal forecasts that cover an initial
forecast period from 2026 to 2028. Projections were extrapolated using the growth rates disclosed in the
accompanying table for an extrapolation period of 4 years (2029-2032), after which a terminal value was
calculated per 2033. However, when appropriate, management may apply a longer explicit forecast period for
certain CGUs. For the terminal value calculation, growth rates were capped at a historical long-term average
growth rate. The company uses scenarios in the business forecasting process and the most reasonable and
supportable assumptions that represent management\u2019s best estimate are used as the basis for the value-in-use
calculations.
Key assumptions
Key assumptions used in the value-in-use calculations were compound sales growth rates, EBITA* in the
terminal value and the rates used for discounting the projected cash flows.
The compound sales growth rate is the annualized steady nominal growth rate over the forecast period
calculated with reference to the latest full year of actual sales as the base for the growth. The compound sales
growth rate used to calculate the terminal value is only applied to the first year after the extrapolation
period, after which no further growth is assumed for the terminal value calculation.
The compound sales growth rates and EBITA* used to estimate cash flows are based on past performance,
external market growth assumptions and industry long-term growth averages. EBITA* for each group of CGUs
is expected to increase over the projection period as a result of volume growth and cost efficiencies. By their
nature, these assumptions involve risk and uncertainty because they relate to future events and circumstances
and there are many factors that could cause actual results and developments to differ materially from the
plans, goals and expectations set forth in these assumptions.
The rates used for discounting the projected cash flows in goodwill impairment testing is based on a weighted
cost of capital (WACC), which in turn is based on business-specific inputs along with other inputs as mentioned
below. The WACC is based on post-tax cost of equity and cost of debt, and is further calculated based on
market data and inputs to accurately capture changes to the time value of money, such as the risk-free
interest rate, the beta factor and country risk premium. In order to properly reflect the different risk profiles
of different businesses, a WACC is determined for each business. As such, the beta factor is determined based
on a selection of peer companies, which can differ per business. Different businesses have different
geographical footprints, resulting in business-specific inputs for variables like country risk. Philips performs the
value-in-use calculations using post-tax cash flows and discount rate, the implicit pre-tax rate discount rate is
derived from an iterative calculation for disclosure purposes.
The values assigned to the key assumptions used for the value-in-use calculations for 2025 and 2024 were:
Philips Group
Key assumptions\u00a02025
Compound sales growth rate
Initial forecast
period
Extrapolation
period
Used to calculate
terminal value
Pre-tax discount
rates
Monitoring
5.6%
4.3%
2.5%
9.0%
Image-Guided Therapy
6.7%
4.6%
2.5%
9.8%
Precision Diagnosis
3.1%
3.8%
2.5%
10.4%
Sleep & Respiratory Care
10.8%
7.3%
2.5%
11.8%
Personal Health
5.5%
4.2%
2.5%
9.9%
Enterprise Informatics
3.9%
3.1%
2.5%
9.6%
Philips Group
Key assumptions \u00a02024
compound sales growth rate
initial forecast
period
extrapolation
period
used to calculate
terminal value
pre-tax discount
rates
Monitoring
5.3%
4.7%
2.5%
9.1%
Image-Guided Therapy
6.3%
5.0%
2.5%
9.7%
Precision Diagnosis
2.4%
3.6%
2.5%
9.9%
Sleep & Respiratory Care
10.1%
7.3%
2.5%
10.3%
Personal Health
5.1%
4.2%
2.5%
9.9%
Enterprise Informatics
4.4%
5.4%
2.5%
8.9%
Sensitivity to changes in assumptions
Based on the annual impairment test, the estimated recoverable amount of the Enterprise Informatics CGU
exceeds the carrying amount by EUR 148\u00a0million. It was noted that an increase of 150 basis points in the pre-
tax discount rate, a 250 basis point decline in the compound sales growth rate or a 24% decrease in EBITA* in
the final year would, individually, cause its recoverable amount to fall to the level of its carrying value.
The results of the annual impairment tests of Monitoring, Image-Guided Therapy, Precision Diagnosis, Sleep &
Respiratory Care and Personal Health indicate that a reasonably possible change in key assumptions would
not cause the value in use to fall to the level of the carrying value.
*The definition of this non-IFRS measure and a reconciliation to the IFRS measure is included in Information by segment and
main country
", "dimensions": { "concept": "ifrs-full:DisclosureOfGoodwillExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-693": { "value": "
5Interests in entities
\"Icon_Accounting
Accounting policies
Associates are all entities over which the company has significant influence, meaning the power to participate
in the financial and operating policy decisions of the investee without the power to control or jointly control
those procedures. Significant influence is presumed for entities in which the company holds between 20% and
50% of the voting power. This presumption may be rebutted if evidence demonstrates that significant
influence does not exist, or conversely, that it exists despite voting rights of less than 20%. These assessments
involve significant judgment and may require consideration of qualitative factors in addition to quantitative
thresholds. Changes in these factors could lead to reassessment of significant influence and impact the
classification and measurement of the investment.
Investments in associates are accounted for using the equity method of accounting and are initially
recognized at cost. The carrying amount of an investment in an associate includes the carrying amount of
goodwill identified on acquisition. An impairment loss on such investment is allocated to the investment as a
whole.
The company\u2019s share of the net income of these associates is included in Results of associates, in the Consolidated
statements of income, after adjustments to align the accounting policies with those of the company. In addition,
gains or losses from changes in ownership (dilution), impairments, and disposals of associates are recognized
within the same line item. When the company\u2019s share of losses exceeds its interest in an associate, the carrying
amount of that interest is reduced to zero and recognition of further losses is discontinued except to the extent
that the company has an obligation or made payments on behalf of the associate.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-692": { "value": "
5Interests in entities
\"Icon_Accounting
Accounting policies
Associates are all entities over which the company has significant influence, meaning the power to participate
in the financial and operating policy decisions of the investee without the power to control or jointly control
those procedures. Significant influence is presumed for entities in which the company holds between 20% and
50% of the voting power. This presumption may be rebutted if evidence demonstrates that significant
influence does not exist, or conversely, that it exists despite voting rights of less than 20%. These assessments
involve significant judgment and may require consideration of qualitative factors in addition to quantitative
thresholds. Changes in these factors could lead to reassessment of significant influence and impact the
classification and measurement of the investment.
Investments in associates are accounted for using the equity method of accounting and are initially
recognized at cost. The carrying amount of an investment in an associate includes the carrying amount of
goodwill identified on acquisition. An impairment loss on such investment is allocated to the investment as a
whole.
The company\u2019s share of the net income of these associates is included in Results of associates, in the Consolidated
statements of income, after adjustments to align the accounting policies with those of the company. In addition,
gains or losses from changes in ownership (dilution), impairments, and disposals of associates are recognized
within the same line item. When the company\u2019s share of losses exceeds its interest in an associate, the carrying
amount of that interest is reduced to zero and recognition of further losses is discontinued except to the extent
that the company has an obligation or made payments on behalf of the associate.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociates", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-691": { "value": "
5Interests in entities
\"Icon_Accounting
Accounting policies
Associates are all entities over which the company has significant influence, meaning the power to participate
in the financial and operating policy decisions of the investee without the power to control or jointly control
those procedures. Significant influence is presumed for entities in which the company holds between 20% and
50% of the voting power. This presumption may be rebutted if evidence demonstrates that significant
influence does not exist, or conversely, that it exists despite voting rights of less than 20%. These assessments
involve significant judgment and may require consideration of qualitative factors in addition to quantitative
thresholds. Changes in these factors could lead to reassessment of significant influence and impact the
classification and measurement of the investment.
Investments in associates are accounted for using the equity method of accounting and are initially
recognized at cost. The carrying amount of an investment in an associate includes the carrying amount of
goodwill identified on acquisition. An impairment loss on such investment is allocated to the investment as a
whole.
The company\u2019s share of the net income of these associates is included in Results of associates, in the Consolidated
statements of income, after adjustments to align the accounting policies with those of the company. In addition,
gains or losses from changes in ownership (dilution), impairments, and disposals of associates are recognized
within the same line item. When the company\u2019s share of losses exceeds its interest in an associate, the carrying
amount of that interest is reduced to zero and recognition of further losses is discontinued except to the extent
that the company has an obligation or made payments on behalf of the associate.
Investments in associates
The total value of investments in associates as of December 31, 2025, amounted to EUR 148 million (2024: EUR
257 million, 2023: EUR 381\u00a0million).
During the year, the investment in an associate was reclassified to other non-current financial assets measured
at FVTOCI, following the loss of significant influence, resulting in a EUR 2 million gain recognized in results of
associates. Cumulative currency translation gains of EUR\u202f19\u00a0million were recycled to the income statement as
part of other business income.
The accompanying table summarizes, on an aggregate basis, the components of results of associates together
with Philips\u2019 share in other comprehensive income.
Philips Group
Results of associates and share in other comprehensive income of associates
December 31, 2025
2025
2024
Share in profit or loss from continuing operations
(12)
(23)
Impairment
2
(103)
Result on sale of equity accounted investees
1
2
Results of associates
(9)
(124)
Share in other comprehensive income
-
-
In 2024, the impairment mainly included EUR 63\u00a0million attributable to B-Soft Co., Ltd.
Cumulative currency translation differences related to investments in associates were EUR (68) million as of
December\u00a031, 2025 (2024: EUR (10) million).
No significant contingent liabilities exist related to associates. None of the associates are considered
individually material to the group.", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInAssociatesExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-690": { "value": "
5Interests in entities
\"Icon_Accounting
Accounting policies
Associates are all entities over which the company has significant influence, meaning the power to participate
in the financial and operating policy decisions of the investee without the power to control or jointly control
those procedures. Significant influence is presumed for entities in which the company holds between 20% and
50% of the voting power. This presumption may be rebutted if evidence demonstrates that significant
influence does not exist, or conversely, that it exists despite voting rights of less than 20%. These assessments
involve significant judgment and may require consideration of qualitative factors in addition to quantitative
thresholds. Changes in these factors could lead to reassessment of significant influence and impact the
classification and measurement of the investment.
Investments in associates are accounted for using the equity method of accounting and are initially
recognized at cost. The carrying amount of an investment in an associate includes the carrying amount of
goodwill identified on acquisition. An impairment loss on such investment is allocated to the investment as a
whole.
The company\u2019s share of the net income of these associates is included in Results of associates, in the Consolidated
statements of income, after adjustments to align the accounting policies with those of the company. In addition,
gains or losses from changes in ownership (dilution), impairments, and disposals of associates are recognized
within the same line item. When the company\u2019s share of losses exceeds its interest in an associate, the carrying
amount of that interest is reduced to zero and recognition of further losses is discontinued except to the extent
that the company has an obligation or made payments on behalf of the associate.
Investments in associates
The total value of investments in associates as of December 31, 2025, amounted to EUR 148 million (2024: EUR
257 million, 2023: EUR 381\u00a0million).
During the year, the investment in an associate was reclassified to other non-current financial assets measured
at FVTOCI, following the loss of significant influence, resulting in a EUR 2 million gain recognized in results of
associates. Cumulative currency translation gains of EUR\u202f19\u00a0million were recycled to the income statement as
part of other business income.
The accompanying table summarizes, on an aggregate basis, the components of results of associates together
with Philips\u2019 share in other comprehensive income.
Philips Group
Results of associates and share in other comprehensive income of associates
December 31, 2025
2025
2024
Share in profit or loss from continuing operations
(12)
(23)
Impairment
2
(103)
Result on sale of equity accounted investees
1
2
Results of associates
(9)
(124)
Share in other comprehensive income
-
-
In 2024, the impairment mainly included EUR 63\u00a0million attributable to B-Soft Co., Ltd.
Cumulative currency translation differences related to investments in associates were EUR (68) million as of
December\u00a031, 2025 (2024: EUR (10) million).
No significant contingent liabilities exist related to associates. None of the associates are considered
individually material to the group.", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-689": { "value": "
5Interests in entities
Information related to non-controlling interests
As of December\u00a031, 2025, three consolidated subsidiaries are not wholly owned by Philips (December\u00a031, 2024:
three). In 2025, sales to third parties and Net income for these subsidiaries in aggregate are EUR 479 million
(December\u00a031, 2024: EUR 467 million) and EUR 37 million (December\u00a031, 2024: EUR 10 million), respectively.
17Equity
Non-controlling interests
Non-controlling interests relate to minority stakes held by third parties in consolidated group companies.
", "dimensions": { "concept": "ifrs-full:DisclosureOfNoncontrollingInterestsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-688": { "value": "
5Interests in entities
Involvement with unconsolidated structured entities
Philips founded three Philips Medical Capital (PMC) entities, in the US, France and Germany, in which Philips
holds a minority interest. Philips Medical Capital, LLC in the US is the most significant entity. PMC entities
provide healthcare equipment financing and leasing services to Philips customers for diagnostic imaging
equipment, patient monitoring equipment, and clinical IT systems.
The company concluded that it does not control, and therefore should not consolidate, the PMC entities. In
the US, PMC operates as a subsidiary of De Lage Landen Financial Services, Inc. The same structure and
treatment is applied to the PMC entities in the other countries, with other majority shareholders. Operating
agreements are in place for all PMC entities, whereby acceptance of sales and financing transactions resides
with the respective majority shareholder. After acceptance of a transaction by PMC, Philips transfers control
and does not retain any obligations towards PMC or its customers, from the sales contracts.
As of December\u00a031, 2025, Philips\u2019 shareholding in Philips Medical Capital, LLC had a carrying value of EUR 26
million (December\u00a031, 2024 : EUR 31 million).
The company does not have any material exposures to losses from interests in unconsolidated structured
entities other than the invested amounts.
13Other financial assets
Other non-current financial assets
The company\u2019s investments in Other non-current financial assets mainly consist of investments in common
shares of companies in various industries and investments in limited life funds. The changes during 2025 and
2024 are presented in the accompanying table:
Philips Group
Other non-current financial assets in millions of EUR
Non-current
financial assets at
FVTPL
Non-current
financial assets at
FVTOCI
Non-current
financial assets at
Amortized cost
Total
Balance as of January 1, 2025
288
242
102
631
Changes:
Acquisitions/additions
118
3
11
132
Sales/redemptions/reductions
(14)
(32)
(9)
(55)
Value adjustment through OCI
-
(14)
-
(14)
Value adjustment through P&L
(26)
-
-
(26)
Translation differences and other
(22)
(19)
(2)
(42)
Reclassifications
36
40
1
78
Balance as of December 31, 2025
380
221
103
704
Philips Group
Other non-current financial assets in millions of EUR
Non-current
financial assets at
FVTPL
Non-current
financial assets at
FVTOCI
Non-current
financial assets at
Amortized cost
Total
Balance as of January 1, 2024
284
258
77
619
Changes:
Acquisitions/additions
76
6
65
147
Sales/redemptions/reductions
(31)
(14)
(11)
(56)
Value adjustment through OCI
-
(23)
-
(23)
Value adjustment through P&L
(25)
-
1
(23)
Translation differences and other
8
12
(4)
16
Reclassifications
(25)
4
(27)
(47)
Balance as of December 31, 2024
288
242
102
631
As of December\u00a031, 2025, equity investments of EUR 213 million (2024: EUR 222 million) are accounted under
the FVTOCI category based on the company's election at initial recognition mainly because such investments
are neither held for trading purposes nor primarily for their increase in value and the elected presentation is
considered to reflect the nature and purpose of the investment.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-702": { "value": "
6Income from operations
\"Icon_Accounting
Accounting policies
Revenue recognition
Goods include consumer-type products in the Personal Health segment, equipment in the Diagnosis &
Treatment and Connected Care segments, and software-related offerings treated as goods. Services include
preventative and corrective maintenance services, as well as related parts and labor, extended warranties,
training, and other service-type offerings (including software). The company recognizes a contract with a
customer when a legally enforceable agreement exists, the rights of both parties are established, the contract
has commercial substance, and the consideration is probable to be collected. Revenue is recognized in the
period when the performance obligation is satisfied and the customer obtains control of the underlying
goods or services, allowing the customer the ability to direct the use of, and obtain substantially all of, the
remaining benefits of such product or service. The revenue reflects the consideration (i.e., transaction price) to
which the company expects to be entitled in exchange for the good or service. The consideration expected by
the company may include fixed and/or variable amounts which can be impacted by sales returns, trade
discounts, volume rebates, credits or Group Purchasing Organization (GPO) fees. The company adjusts the
consideration for the time value of money if the period between the transfer of the promised goods or
services to the customer and payment by the customer exceeds six months. Revenue is either recognized at a
point in time or over time.
Revenues from transactions relating to distinct goods or services are accounted for separately based on their
relative stand-alone selling prices. The stand-alone selling price is the price that would be charged for the
goods or service in a separate transaction under similar conditions to similar customers. The transaction price
is determined (considering variable considerations) and allocated to performance obligations based on their
relative stand-alone selling prices. These transactions mainly occur in the segments Diagnosis & Treatment and
Connected Care and include arrangements that require delivery of goods with subsequent installation and
training activities or future goods and services. Depending on the terms of the contract sale, the installation
and training activities could be considered part of the equipment sales. Revenue is recognized when the
performance obligation is satisfied, i.e., when the installation has been completed and the equipment is ready
to be used by the customer in the way contractually agreed.
Variable consideration is included in the transaction price to the extent that it is highly probable that a
significant reversal in the amount of cumulative revenue recognized will not occur once associated
uncertainties are resolved. Such assessment is performed on each reporting date to check whether it is
constrained. For products for which a right of return exists during a defined period, revenue recognition is
determined based on the historical pattern of actual returns, or in cases where such information is not
available, revenue recognition is postponed until the return period has lapsed. Return policies are typically
based on customary return arrangements in local markets. A provision is recognized for assurance-type
product warranty at the time of revenue recognition and reflects the estimated costs of replacement and free-
of-charge services that will be incurred by the company with respect to the products sold. For certain products,
the customer has the option to purchase the warranty separately, which is considered a separate performance
obligation on top of the assurance-type product warranty. For such warranties which provide distinct service,
revenue recognition occurs on a straight-line basis over the extended warranty contract period. Occasionally,
the company may offer a full or partial refund of consideration previously paid. A provision is recognized for
the amounts expected to be refunded to customers, and remeasured at each reporting date to reflect changes
in the estimated refunds, with a corresponding adjustment to revenue.
In the case of loss under a sales agreement, the loss is recognized immediately. Expenses incurred for sales
commissions that are considered incremental to the contracts are recognized immediately in the consolidated
statements of income as selling expenses as a practical expedient under IFRS 15 Revenue from Contracts with
Customers.
The company receives payments from customers based on a billing schedule or credit period, as established in
our contracts. Credit periods are determined based on standard terms, which vary according to local market
conditions. Amounts posted in deferred revenue for which the goods or services have not yet been
transferred to the customer and amounts that have either been received or are due, are presented as Contract
liabilities in the Consolidated balance sheets. Payment terms typically do not exceed 90 days after invoice.
Revenue from sale of goods
Revenues are recognized at either point in time or over time when control of the goods passes to the buyer,
based on the allocation of the transaction price to the performance obligation.
Revenue from services
Revenues are recognized over time as the company transfers control of the services to the customer, which is
demonstrated by the customer simultaneously receiving and consuming the benefits provided by the company.
The amount of revenues is measured by reference to the progress made toward complete satisfaction of the
performance obligation, which in general is evenly over time. Service revenue related to repair and
maintenance activities for goods sold is recognized ratably over the service period or as services are rendered.
Sales from other sources
Revenue includes consideration received from customers under lease arrangements in which the company acts
as lessor. Lease contracts are classified as either finance leases or operating leases.
Finance leases: When substantially all risks and rewards incidental to ownership of the underlying asset are
transferred to the lessee, the lease is classified as a finance lease. For such leases, revenue is recognized at a
point in time.
Operating leases: When the company retains substantially all risks and rewards incidental to ownership, the
lease is classified as an operating lease. Revenue from operating leases is recognized on a straight-line basis
over the lease term.
Income from royalties
Royalty income from brand license arrangements and from intellectual property rights, such as technology
licenses or patents, is recognized on an accrual basis in accordance with the substance of the relevant
agreement and can be over time or point in time.
Accounting estimates and judgments
Sales-related accruals
The company has sales promotions-related agreements with distributors and retailers designed to promote
the sale of products. Among the programs are arrangements under which rebates and discounts can be
earned by the distributors and retailers by attaining agreed upon sales levels, or for participating in specific
marketing programs. Management estimates the sales-related accruals associated with these arrangements
based on a combination of historical patterns and future expectations regarding which promotional targets
are expected to be met by distributors and retailers. These estimated amounts are recorded as a reduction to
revenue when the related product or service sales are recognized. Accrued customer rebates are presented as
other current liabilities, unless there is a right to offset against the respective accounts receivable.
A breakdown by nature of the income (loss) from operations is:
Philips Group
Sales and costs by nature in millions of EUR
2025
2024
2023
Sales
17,834
18,021
18,169
Costs of materials used
(4,120)
(4,213)
(4,626)
Employee benefit expenses
(6,681)
(6,641)
(6,903)
Depreciation and amortization \u00b9
(1,125)
(1,390)
(1,261)
Shipping and handling
(585)
(623)
(668)
Advertising and promotion
(794)
(791)
(700)
Lease expenses
(43)
(54)
(51)
Other operational costs
(3,097)
(3,351)
(3,535)
Other business income (expenses)
36
(429)
(540)
Income from operations
1,424
529
(115)
1Includes impairments. For impairment values please refer to Property, plant and equipment and Intangible assets excluding
goodwill.
Sales composition and disaggregation
For information related to sales on a segment and geographical basis, refer to Information by segment and
main country.
Philips Group
Sales composition in millions of EUR
2025
2024
2023
Goods
12,089
12,198
12,419
Services
4,938
5,003
4,926
Royalties
434
466
434
Total sales from contracts with customers
17,461
17,667
17,779
Sales from other sources
373
354
390
Total sales
17,834
18,021
18,169
Philips Group
Disaggregation of sales per segment in millions of EUR
Sales at a point
in time
Sales over time
Total sales from
contracts with
customers
Sales from other
sources
Total sales
2025
Diagnosis & Treatment
5,286
3,157
8,443
88
8,531
Connected Care
3,042
1,749
4,792
284
5,076
Personal Health
3,659
13
3,672
1
3,673
Other
232
322
554
-
554
Philips Group
12,219
5,241
17,461
373
17,834
2024
Diagnosis & Treatment
5,655
3,070
8,725
65
8,790
Connected Care
2,959
1,886
4,845
289
5,134
Personal Health
3,471
15
3,486
-
3,486
Other
300
311
611
-
611
Philips Group
12,385
5,282
17,667
354
18,021
2023
Diagnosis & Treatment
5,768
2,980
8,749
76
8,825
Connected Care
2,970
1,854
4,824
314
5,138
Personal Health
3,586
16
3,602
-
3,602
Other
245
360
604
-
604
Philips Group
12,569
5,210
17,779
390
18,169
Philips Group
Disaggregation of sales per geographic area in millions of EUR
Sales at a point
in time
Sales over time
Total sales from
contracts with
customers
Sales from other
sources
Total sales
2025
Western Europe
2,606
1,291
3,897
24
3,921
North America
4,945
2,478
7,423
119
7,542
Other mature geographies
798
425
1,223
229
1,452
Mature geographies
8,349
4,194
12,543
372
12,915
Growth geographies
3,870
1,047
4,917
1
4,919
Sales
12,219
5,241
17,461
373
17,834
2024
Western Europe
2,698
1,254
3,951
28
3,978
North America
4,958
2,602
7,560
93
7,655
Other mature geographies
893
401
1,294
231
1,526
Mature geographies
8,549
4,256
12,805
353
13,159
Growth geographies
3,836
1,026
4,861
1
4,863
Sales
12,385
5,282
17,667
354
18,021
2023
Western Europe
2,552
1,221
3,770
49
3,819
North America
4,859
2,608
7,470
92
7,562
Other mature geographies
980
398
1,378
248
1,626
Mature geographies
8,392
4,227
12,618
389
13,007
Growth geographies
4,177
984
5,161
1
5,162
Sales
12,569
5,210
17,779
390
18,169
Total sales from other sources mainly relates to operating leases of EUR 215 million (2024: EUR 222 million;
2023: EUR 234 million). Sales represent revenue from external customers.
As of December\u00a031, 2025, the aggregate amount of the transaction price allocated to remaining performance
obligations from sales of goods and services was EUR 14,924 million (2024:15,632 million). The company
expects to recognize approximately 45% of the remaining performance obligations within 1 year. Revenue
expected to be recognized beyond 1 year is mostly related to longer term customer service and software
contracts.
Sales over time represents services and Other also includes royalties over time (2025: EUR 301 million; 2024:
EUR 277 million; 2023: EUR 283 million).
Sales per geographic area are reported based on country of destination.
14Other assets
\"Icon_Accounting
Accounting policies
The company recognizes contract assets for revenue earned from installation services because the receipt of
consideration is conditional on successful completion of the installation. Upon completion of the installation
and acceptance by the customer, the amount recognized as contract assets is reclassified to trade receivables.
Other assets are measured at amortized cost minus any impairment losses.
Other current assets
Other current assets as of December\u00a031, 2025 , totaled EUR 529 million (2024: EUR 588 million ), primarily
contract assets of EUR 354 million (2024 : EUR 349 million ) and prepaid expenses of EUR 180 million (2024: EUR
238 million ) mainly related to Other, Diagnosis & Treatment and Connected Care segments.
22Other liabilities
\"Icon_Accounting
Accounting policies
Other liabilities are initially measured at fair value and subsequently at amortized cost and are derecognized
when the obligation under the liability is discharged, cancelled or has expired.
The company recognizes contract liabilities if a payment is received or a payment is due (whichever is earlier)
from a customer before the company transfers the related goods or services. Contract liabilities are
recognized as revenue when the company performs under the contract (i.e., transfers control of the related
goods or services to the customer).
Contract liabilities
Non-current contract liabilities were EUR 458 million as of December\u00a031, 2025 (December\u00a031, 2024: EUR 431
million) and current contract liabilities were EUR 1,490 million as of December\u00a031, 2025 (December\u00a031, 2024 :
EUR 1,699 million ).
The current contract liabilities decreased by EUR 209 million, which is mainly driven by a decrease in deferred
balances for customer service contracts. The current contract liabilities as of December\u00a031, 2024, resulted in
revenue recognized of EUR 1,699 million in 2025", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-701": { "value": "
6Income from operations
\"Icon_Accounting
Accounting policies
Revenue recognition
Goods include consumer-type products in the Personal Health segment, equipment in the Diagnosis &
Treatment and Connected Care segments, and software-related offerings treated as goods. Services include
preventative and corrective maintenance services, as well as related parts and labor, extended warranties,
training, and other service-type offerings (including software). The company recognizes a contract with a
customer when a legally enforceable agreement exists, the rights of both parties are established, the contract
has commercial substance, and the consideration is probable to be collected. Revenue is recognized in the
period when the performance obligation is satisfied and the customer obtains control of the underlying
goods or services, allowing the customer the ability to direct the use of, and obtain substantially all of, the
remaining benefits of such product or service. The revenue reflects the consideration (i.e., transaction price) to
which the company expects to be entitled in exchange for the good or service. The consideration expected by
the company may include fixed and/or variable amounts which can be impacted by sales returns, trade
discounts, volume rebates, credits or Group Purchasing Organization (GPO) fees. The company adjusts the
consideration for the time value of money if the period between the transfer of the promised goods or
services to the customer and payment by the customer exceeds six months. Revenue is either recognized at a
point in time or over time.
Revenues from transactions relating to distinct goods or services are accounted for separately based on their
relative stand-alone selling prices. The stand-alone selling price is the price that would be charged for the
goods or service in a separate transaction under similar conditions to similar customers. The transaction price
is determined (considering variable considerations) and allocated to performance obligations based on their
relative stand-alone selling prices. These transactions mainly occur in the segments Diagnosis & Treatment and
Connected Care and include arrangements that require delivery of goods with subsequent installation and
training activities or future goods and services. Depending on the terms of the contract sale, the installation
and training activities could be considered part of the equipment sales. Revenue is recognized when the
performance obligation is satisfied, i.e., when the installation has been completed and the equipment is ready
to be used by the customer in the way contractually agreed.
Variable consideration is included in the transaction price to the extent that it is highly probable that a
significant reversal in the amount of cumulative revenue recognized will not occur once associated
uncertainties are resolved. Such assessment is performed on each reporting date to check whether it is
constrained. For products for which a right of return exists during a defined period, revenue recognition is
determined based on the historical pattern of actual returns, or in cases where such information is not
available, revenue recognition is postponed until the return period has lapsed. Return policies are typically
based on customary return arrangements in local markets. A provision is recognized for assurance-type
product warranty at the time of revenue recognition and reflects the estimated costs of replacement and free-
of-charge services that will be incurred by the company with respect to the products sold. For certain products,
the customer has the option to purchase the warranty separately, which is considered a separate performance
obligation on top of the assurance-type product warranty. For such warranties which provide distinct service,
revenue recognition occurs on a straight-line basis over the extended warranty contract period. Occasionally,
the company may offer a full or partial refund of consideration previously paid. A provision is recognized for
the amounts expected to be refunded to customers, and remeasured at each reporting date to reflect changes
in the estimated refunds, with a corresponding adjustment to revenue.
In the case of loss under a sales agreement, the loss is recognized immediately. Expenses incurred for sales
commissions that are considered incremental to the contracts are recognized immediately in the consolidated
statements of income as selling expenses as a practical expedient under IFRS 15 Revenue from Contracts with
Customers.
The company receives payments from customers based on a billing schedule or credit period, as established in
our contracts. Credit periods are determined based on standard terms, which vary according to local market
conditions. Amounts posted in deferred revenue for which the goods or services have not yet been
transferred to the customer and amounts that have either been received or are due, are presented as Contract
liabilities in the Consolidated balance sheets. Payment terms typically do not exceed 90 days after invoice.
Revenue from sale of goods
Revenues are recognized at either point in time or over time when control of the goods passes to the buyer,
based on the allocation of the transaction price to the performance obligation.
Revenue from services
Revenues are recognized over time as the company transfers control of the services to the customer, which is
demonstrated by the customer simultaneously receiving and consuming the benefits provided by the company.
The amount of revenues is measured by reference to the progress made toward complete satisfaction of the
performance obligation, which in general is evenly over time. Service revenue related to repair and
maintenance activities for goods sold is recognized ratably over the service period or as services are rendered.
Sales from other sources
Revenue includes consideration received from customers under lease arrangements in which the company acts
as lessor. Lease contracts are classified as either finance leases or operating leases.
Finance leases: When substantially all risks and rewards incidental to ownership of the underlying asset are
transferred to the lessee, the lease is classified as a finance lease. For such leases, revenue is recognized at a
point in time.
Operating leases: When the company retains substantially all risks and rewards incidental to ownership, the
lease is classified as an operating lease. Revenue from operating leases is recognized on a straight-line basis
over the lease term.
Income from royalties
Royalty income from brand license arrangements and from intellectual property rights, such as technology
licenses or patents, is recognized on an accrual basis in accordance with the substance of the relevant
agreement and can be over time or point in time.
\"Icon_Accounting
Accounting estimates and judgments
Sales-related accruals
The company has sales promotions-related agreements with distributors and retailers designed to promote
the sale of products. Among the programs are arrangements under which rebates and discounts can be
earned by the distributors and retailers by attaining agreed upon sales levels, or for participating in specific
marketing programs. Management estimates the sales-related accruals associated with these arrangements
based on a combination of historical patterns and future expectations regarding which promotional targets
are expected to be met by distributors and retailers. These estimated amounts are recorded as a reduction to
revenue when the related product or service sales are recognized. Accrued customer rebates are presented as
other current liabilities, unless there is a right to offset against the respective accounts receivable.
A breakdown by nature of the income (loss) from operations is:
Philips Group
Sales and costs by nature in millions of EUR
2025
2024
2023
Sales
17,834
18,021
18,169
Costs of materials used
(4,120)
(4,213)
(4,626)
Employee benefit expenses
(6,681)
(6,641)
(6,903)
Depreciation and amortization \u00b9
(1,125)
(1,390)
(1,261)
Shipping and handling
(585)
(623)
(668)
Advertising and promotion
(794)
(791)
(700)
Lease expenses
(43)
(54)
(51)
Other operational costs
(3,097)
(3,351)
(3,535)
Other business income (expenses)
36
(429)
(540)
Income from operations
1,424
529
(115)
1Includes impairments. For impairment values please refer to Property, plant and equipment and Intangible assets excluding
goodwill.
Sales composition and disaggregation
For information related to sales on a segment and geographical basis, refer to Information by segment and
main country.
Philips Group
Sales composition in millions of EUR
2025
2024
2023
Goods
12,089
12,198
12,419
Services
4,938
5,003
4,926
Royalties
434
466
434
Total sales from contracts with customers
17,461
17,667
17,779
Sales from other sources
373
354
390
Total sales
17,834
18,021
18,169
Philips Group
Disaggregation of sales per segment in millions of EUR
Sales at a point
in time
Sales over time
Total sales from
contracts with
customers
Sales from other
sources
Total sales
2025
Diagnosis & Treatment
5,286
3,157
8,443
88
8,531
Connected Care
3,042
1,749
4,792
284
5,076
Personal Health
3,659
13
3,672
1
3,673
Other
232
322
554
-
554
Philips Group
12,219
5,241
17,461
373
17,834
2024
Diagnosis & Treatment
5,655
3,070
8,725
65
8,790
Connected Care
2,959
1,886
4,845
289
5,134
Personal Health
3,471
15
3,486
-
3,486
Other
300
311
611
-
611
Philips Group
12,385
5,282
17,667
354
18,021
2023
Diagnosis & Treatment
5,768
2,980
8,749
76
8,825
Connected Care
2,970
1,854
4,824
314
5,138
Personal Health
3,586
16
3,602
-
3,602
Other
245
360
604
-
604
Philips Group
12,569
5,210
17,779
390
18,169
Philips Group
Disaggregation of sales per geographic area in millions of EUR
Sales at a point
in time
Sales over time
Total sales from
contracts with
customers
Sales from other
sources
Total sales
2025
Western Europe
2,606
1,291
3,897
24
3,921
North America
4,945
2,478
7,423
119
7,542
Other mature geographies
798
425
1,223
229
1,452
Mature geographies
8,349
4,194
12,543
372
12,915
Growth geographies
3,870
1,047
4,917
1
4,919
Sales
12,219
5,241
17,461
373
17,834
2024
Western Europe
2,698
1,254
3,951
28
3,978
North America
4,958
2,602
7,560
93
7,655
Other mature geographies
893
401
1,294
231
1,526
Mature geographies
8,549
4,256
12,805
353
13,159
Growth geographies
3,836
1,026
4,861
1
4,863
Sales
12,385
5,282
17,667
354
18,021
2023
Western Europe
2,552
1,221
3,770
49
3,819
North America
4,859
2,608
7,470
92
7,562
Other mature geographies
980
398
1,378
248
1,626
Mature geographies
8,392
4,227
12,618
389
13,007
Growth geographies
4,177
984
5,161
1
5,162
Sales
12,569
5,210
17,779
390
18,169
Total sales from other sources mainly relates to operating leases of EUR 215 million (2024: EUR 222 million;
2023: EUR 234 million). Sales represent revenue from external customers.
As of December\u00a031, 2025, the aggregate amount of the transaction price allocated to remaining performance
obligations from sales of goods and services was EUR 14,924 million (2024:15,632 million). The company
expects to recognize approximately 45% of the remaining performance obligations within 1 year. Revenue
expected to be recognized beyond 1 year is mostly related to longer term customer service and software
contracts.
Sales over time represents services and Other also includes royalties over time (2025: EUR 301 million; 2024:
EUR 277 million; 2023: EUR 283 million).
Sales per geographic area are reported based on country of destination.
14Other assets
\"Icon_Accounting
Accounting policies
The company recognizes contract assets for revenue earned from installation services because the receipt of
consideration is conditional on successful completion of the installation. Upon completion of the installation
and acceptance by the customer, the amount recognized as contract assets is reclassified to trade receivables.
Other assets are measured at amortized cost minus any impairment losses.
Other current assets
Other current assets as of December\u00a031, 2025 , totaled EUR 529 million (2024: EUR 588 million ), primarily
contract assets of EUR 354 million (2024 : EUR 349 million ) and prepaid expenses of EUR 180 million (2024: EUR
238 million ) mainly related to Other, Diagnosis & Treatment and Connected Care segments.
22Other liabilities
\"Icon_Accounting
Accounting policies
Other liabilities are initially measured at fair value and subsequently at amortized cost and are derecognized
when the obligation under the liability is discharged, cancelled or has expired.
The company recognizes contract liabilities if a payment is received or a payment is due (whichever is earlier)
from a customer before the company transfers the related goods or services. Contract liabilities are
recognized as revenue when the company performs under the contract (i.e., transfers control of the related
goods or services to the customer).
Contract liabilities
Non-current contract liabilities were EUR 458 million as of December\u00a031, 2025 (December\u00a031, 2024: EUR 431
million) and current contract liabilities were EUR 1,490 million as of December\u00a031, 2025 (December\u00a031, 2024 :
EUR 1,699 million ).
The current contract liabilities decreased by EUR 209 million, which is mainly driven by a decrease in deferred
balances for customer service contracts. The current contract liabilities as of December\u00a031, 2024, resulted in
revenue recognized of EUR 1,699 million in 2025", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-700": { "value": "
6Income from operations
\"Icon_Accounting
Accounting policies
Revenue recognition
Goods include consumer-type products in the Personal Health segment, equipment in the Diagnosis &
Treatment and Connected Care segments, and software-related offerings treated as goods. Services include
preventative and corrective maintenance services, as well as related parts and labor, extended warranties,
training, and other service-type offerings (including software). The company recognizes a contract with a
customer when a legally enforceable agreement exists, the rights of both parties are established, the contract
has commercial substance, and the consideration is probable to be collected. Revenue is recognized in the
period when the performance obligation is satisfied and the customer obtains control of the underlying
goods or services, allowing the customer the ability to direct the use of, and obtain substantially all of, the
remaining benefits of such product or service. The revenue reflects the consideration (i.e., transaction price) to
which the company expects to be entitled in exchange for the good or service. The consideration expected by
the company may include fixed and/or variable amounts which can be impacted by sales returns, trade
discounts, volume rebates, credits or Group Purchasing Organization (GPO) fees. The company adjusts the
consideration for the time value of money if the period between the transfer of the promised goods or
services to the customer and payment by the customer exceeds six months. Revenue is either recognized at a
point in time or over time.
Revenues from transactions relating to distinct goods or services are accounted for separately based on their
relative stand-alone selling prices. The stand-alone selling price is the price that would be charged for the
goods or service in a separate transaction under similar conditions to similar customers. The transaction price
is determined (considering variable considerations) and allocated to performance obligations based on their
relative stand-alone selling prices. These transactions mainly occur in the segments Diagnosis & Treatment and
Connected Care and include arrangements that require delivery of goods with subsequent installation and
training activities or future goods and services. Depending on the terms of the contract sale, the installation
and training activities could be considered part of the equipment sales. Revenue is recognized when the
performance obligation is satisfied, i.e., when the installation has been completed and the equipment is ready
to be used by the customer in the way contractually agreed.
Variable consideration is included in the transaction price to the extent that it is highly probable that a
significant reversal in the amount of cumulative revenue recognized will not occur once associated
uncertainties are resolved. Such assessment is performed on each reporting date to check whether it is
constrained. For products for which a right of return exists during a defined period, revenue recognition is
determined based on the historical pattern of actual returns, or in cases where such information is not
available, revenue recognition is postponed until the return period has lapsed. Return policies are typically
based on customary return arrangements in local markets. A provision is recognized for assurance-type
product warranty at the time of revenue recognition and reflects the estimated costs of replacement and free-
of-charge services that will be incurred by the company with respect to the products sold. For certain products,
the customer has the option to purchase the warranty separately, which is considered a separate performance
obligation on top of the assurance-type product warranty. For such warranties which provide distinct service,
revenue recognition occurs on a straight-line basis over the extended warranty contract period. Occasionally,
the company may offer a full or partial refund of consideration previously paid. A provision is recognized for
the amounts expected to be refunded to customers, and remeasured at each reporting date to reflect changes
in the estimated refunds, with a corresponding adjustment to revenue.
In the case of loss under a sales agreement, the loss is recognized immediately. Expenses incurred for sales
commissions that are considered incremental to the contracts are recognized immediately in the consolidated
statements of income as selling expenses as a practical expedient under IFRS 15 Revenue from Contracts with
Customers.
The company receives payments from customers based on a billing schedule or credit period, as established in
our contracts. Credit periods are determined based on standard terms, which vary according to local market
conditions. Amounts posted in deferred revenue for which the goods or services have not yet been
transferred to the customer and amounts that have either been received or are due, are presented as Contract
liabilities in the Consolidated balance sheets. Payment terms typically do not exceed 90 days after invoice.
Revenue from sale of goods
Revenues are recognized at either point in time or over time when control of the goods passes to the buyer,
based on the allocation of the transaction price to the performance obligation.
Revenue from services
Revenues are recognized over time as the company transfers control of the services to the customer, which is
demonstrated by the customer simultaneously receiving and consuming the benefits provided by the company.
The amount of revenues is measured by reference to the progress made toward complete satisfaction of the
performance obligation, which in general is evenly over time. Service revenue related to repair and
maintenance activities for goods sold is recognized ratably over the service period or as services are rendered.
Sales from other sources
Revenue includes consideration received from customers under lease arrangements in which the company acts
as lessor. Lease contracts are classified as either finance leases or operating leases.
Finance leases: When substantially all risks and rewards incidental to ownership of the underlying asset are
transferred to the lessee, the lease is classified as a finance lease. For such leases, revenue is recognized at a
point in time.
Operating leases: When the company retains substantially all risks and rewards incidental to ownership, the
lease is classified as an operating lease. Revenue from operating leases is recognized on a straight-line basis
over the lease term.
Income from royalties
Royalty income from brand license arrangements and from intellectual property rights, such as technology
licenses or patents, is recognized on an accrual basis in accordance with the substance of the relevant
agreement and can be over time or point in time.
14Other assets
\"Icon_Accounting
Accounting policies
The company recognizes contract assets for revenue earned from installation services because the receipt of
consideration is conditional on successful completion of the installation. Upon completion of the installation
and acceptance by the customer, the amount recognized as contract assets is reclassified to trade receivables.
Other assets are measured at amortized cost minus any impairment losses.
22Other liabilities
\"Icon_Accounting
Accounting policies
Other liabilities are initially measured at fair value and subsequently at amortized cost and are derecognized
when the obligation under the liability is discharged, cancelled or has expired.
The company recognizes contract liabilities if a payment is received or a payment is due (whichever is earlier)
from a customer before the company transfers the related goods or services. Contract liabilities are
recognized as revenue when the company performs under the contract (i.e., transfers control of the related
goods or services to the customer).
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-699": { "value": "
6Income from operations
\"Icon_Accounting
Accounting policies
Employee benefits expense
Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as the
related service is provided. The company recognizes a liability and an expense for bonuses and incentives
based on a formula that takes into consideration the profit attributable to the company\u2019s shareholders after
certain adjustments.
Shipping and handling
Expenses incurred for shipping and handling are mainly recorded as cost of sales. When shipping and
handling are part of a project and billed to the customer, then the related expenses are recorded as cost of
sales. Shipping and handling related to sales to third parties are partly recorded as selling expenses. When
shipping and handling billed to customers are considered a distinct and separate performance obligation, the
fees are recognized as revenue and costs included in cost of sales.
Other business income (expenses)
Other business income (expenses) includes gains and losses on the sale of property, plant and equipment,
gains and losses on the sale of businesses, and other gains and losses not related to the company\u2019s operating
activities.
A breakdown by nature of the income (loss) from operations is:
Philips Group
Sales and costs by nature in millions of EUR
2025
2024
2023
Sales
17,834
18,021
18,169
Costs of materials used
(4,120)
(4,213)
(4,626)
Employee benefit expenses
(6,681)
(6,641)
(6,903)
Depreciation and amortization \u00b9
(1,125)
(1,390)
(1,261)
Shipping and handling
(585)
(623)
(668)
Advertising and promotion
(794)
(791)
(700)
Lease expenses
(43)
(54)
(51)
Other operational costs
(3,097)
(3,351)
(3,535)
Other business income (expenses)
36
(429)
(540)
Income from operations
1,424
529
(115)
1Includes impairments. For impairment values please refer to Property, plant and equipment and Intangible assets excluding
goodwill.
Costs of materials used
Cost of materials used represents the inventory recognized in cost of sales.
Employee benefit expenses
Philips Group
Employee benefit expenses in millions of EUR
2025
2024
2023
Salaries and wages excluding share-based compensation
5,369
5,356
5,635
Share-based compensation
148
104
97
Post-employment benefit costs
371
388
402
Other social security and similar charges:
Required by law
582
580
567
Voluntary
211
211
202
Employee benefit expenses
6,681
6,641
6,903
The employee benefit expenses relate to employees who are working on the payroll of Philips, both with
permanent and temporary contracts.
For further information on post-employment benefit costs, refer to Post-employment benefits.
For details on the remuneration of the members of the Board of Management and the Supervisory Board,
refer to Information on remuneration.
Employees
The number (full-time equivalents, or FTEs) of employees by category at year-end is summarized as:
Philips Group
Employees by category in FTEs as of December 31
2025
2024
2023
Production
28,167
27,478
28,640
Research & development
10,248
10,843
12,035
Other
26,402
27,795
26,818
Philips Employees
64,817
66,116
67,493
Third-party workers
1,585
1,708
2,163
Total
66,401
67,823
69,656
Philips employees consist of those persons working on the payroll of Philips and whose costs are reflected in
employee benefit expenses. Other consists of employees in commercial, general and administrative functions.
Third-party workers consist of personnel hired on a per-period basis, via external companies.
Philips Group
Employees by geographical location in average FTEs
2025
2024
2023
Netherlands
8,342
8,844
9,794
Other countries
58,691
60,113
62,471
Total
67,033
68,956
72,264
Depreciation and amortization
Depreciation of property, plant and equipment and amortization of intangible assets, including impairments,
are:
Philips Group
Depreciation and amortization 1 in millions of EUR
2025
2024
2023
Depreciation of property, plant and equipment
602
696
689
Amortization of software
104
102
98
Amortization of acquired intangible assets
240
392
290
Amortization of development costs
178
199
184
Depreciation and amortization
1,125
1,390
1,261
1Includes impairments. For impairment values please refer to Property, plant and equipment and Intangible assets excluding
goodwill.
Depreciation of property, plant and equipment is mainly included in cost of sales. Amortization of software is
mainly included in general and administration expenses. Amortization of other intangible assets is included in
selling expenses for brand names and customer relationships and is included in cost of sales for technology-
based and other intangible assets. Amortization of development costs is included in research and
development expenses.
Shipping and handling
Shipping and handling costs are included in cost of sales and selling expenses in the Consolidated statements
of income.
Advertising and promotion
Advertising and promotion costs are included in selling expenses in the Consolidated statements of income.
Lease expense
Lease expense relates to short-term and low-value leases.
Other operational costs
Other operational costs contain items which are dissimilar in nature and individually insignificant in amount
to disclose separately. These costs contain, among others, expenses for outsourcing services, mainly in IT and
Human Resources, third-party workers, consultants, warranties, patents, costs for travelling and external legal
services. Government grants of EUR 86 million were recognized as a cost reduction in 2025 (2024: EUR 91
million; 2023: EUR 95 million). The grants mainly relate to research and development activities and business
development.
Audit and audit-related fees
The accompanying table shows the fees attributable to the fiscal years 2025, 2024 and 2023 for services
rendered by the external auditors.
Philips Group
Audit and audit-related fees in millions of EUR
2025
2024
PwC NL \u00b9
PwC
Network
Total
EY NL \u00b2
EY
Network
Total
Audit fees
6.5
6.2
12.7
9.5
5.5
15.0
consolidated financial statements
6.5
2.9
9.4
9.5
3.0
12.5
statutory financial statements
-
3.3
3.3
-
2.5
2.5
Audit-related fees \u00b3
1.3
-
1.3
1.9
0.3
2.2
sustainability assurance
1.3
-
1.3
1.6
-
1.6
other
0.1
-
0.1
0.3
0.3
0.6
Tax fees
-
-
-
-
-
-
All other fees
-
-
-
-
-
-
Fees
7.8
6.2
14.0
11.4
5.8
17.2
1PricewaterhouseCoopers Accountants N.V.
2EY Accountants B.V.
3Also known as Assurance fees
Other business income (expenses)
Other business income (expenses) consists of:
Philips Group
Other business income (expenses) in millions of EUR
2025
2024
2023
Result on disposal of businesses:
income
2
27
50
expenses
(27)
(14)
-
Result on disposal of fixed assets:
income
3
3
12
expenses
(2)
-
(1)
Result on other remaining businesses:
income
82
560
49
expenses
(21)
(1,005)
(643)
Impairment of goodwill
-
-
(8)
Other business income (expenses)
36
(429)
(540)
Total other business income
87
590
112
Total other business expenses
(51)
(1,019)
(652)
The result on disposal of businesses mainly relates to income (expense) in the respective periods for
divestments of non-strategic businesses. For more information refer to Acquisitions and divestments.
The result on disposal of fixed assets mainly relates to the sale of real estate assets.
The result on other remaining businesses mainly relates to the revaluation of contingent consideration and
various legal matters. In 2024, Respironics recorded a EUR 984 million provision in connection with the
settlement of the Respironics personal injury and the medical monitoring claims in the US. Philips recorded
insurance income of EUR 538 million in connection with the agreement with insurers to partially reimburse
the Respironics recall-related product liability claims. For more information on contingent consideration, refer
to Provisions.
Impairment of goodwill
There were no goodwill impairment charges in 2025 and in 2024. For further information refer to Goodwill.
", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-698": { "value": "
6Income from operations
\"Icon_Accounting
Accounting policies
Employee benefits expense
Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as the
related service is provided. The company recognizes a liability and an expense for bonuses and incentives
based on a formula that takes into consideration the profit attributable to the company\u2019s shareholders after
certain adjustments.
Shipping and handling
Expenses incurred for shipping and handling are mainly recorded as cost of sales. When shipping and
handling are part of a project and billed to the customer, then the related expenses are recorded as cost of
sales. Shipping and handling related to sales to third parties are partly recorded as selling expenses. When
shipping and handling billed to customers are considered a distinct and separate performance obligation, the
fees are recognized as revenue and costs included in cost of sales.
Other business income (expenses)
Other business income (expenses) includes gains and losses on the sale of property, plant and equipment,
gains and losses on the sale of businesses, and other gains and losses not related to the company\u2019s operating
activities.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-697": { "value": "
6Income from operations
\"Icon_Accounting
Accounting policies
Shipping and handling
Expenses incurred for shipping and handling are mainly recorded as cost of sales. When shipping and
handling are part of a project and billed to the customer, then the related expenses are recorded as cost of
sales. Shipping and handling related to sales to third parties are partly recorded as selling expenses. When
shipping and handling billed to customers are considered a distinct and separate performance obligation, the
fees are recognized as revenue and costs included in cost of sales.
Costs of materials used
Cost of materials used represents the inventory recognized in cost of sales.
Shipping and handling
Shipping and handling costs are included in cost of sales and selling expenses in the Consolidated statements
of income.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCostOfSalesExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-696": { "value": "
6Income from operations
\"Icon_Accounting
Accounting policies
Other business income (expenses)
Other business income (expenses) includes gains and losses on the sale of property, plant and equipment,
gains and losses on the sale of businesses, and other gains and losses not related to the company\u2019s operating
activities.
Other business income (expenses)
Other business income (expenses) consists of:
Philips Group
Other business income (expenses) in millions of EUR
2025
2024
2023
Result on disposal of businesses:
income
2
27
50
expenses
(27)
(14)
-
Result on disposal of fixed assets:
income
3
3
12
expenses
(2)
-
(1)
Result on other remaining businesses:
income
82
560
49
expenses
(21)
(1,005)
(643)
Impairment of goodwill
-
-
(8)
Other business income (expenses)
36
(429)
(540)
Total other business income
87
590
112
Total other business expenses
(51)
(1,019)
(652)
The result on disposal of businesses mainly relates to income (expense) in the respective periods for
divestments of non-strategic businesses. For more information refer to Acquisitions and divestments.
The result on disposal of fixed assets mainly relates to the sale of real estate assets.
The result on other remaining businesses mainly relates to the revaluation of contingent consideration and
various legal matters. In 2024, Respironics recorded a EUR 984 million provision in connection with the
settlement of the Respironics personal injury and the medical monitoring claims in the US. Philips recorded
insurance income of EUR 538 million in connection with the agreement with insurers to partially reimburse
the Respironics recall-related product liability claims. For more information on contingent consideration, refer
to Provisions.
Impairment of goodwill
There were no goodwill impairment charges in 2025 and in 2024. For further information refer to Goodwill.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-695": { "value": "
6Income from operations
\"Icon_Accounting
Accounting policies
Other business income (expenses)
Other business income (expenses) includes gains and losses on the sale of property, plant and equipment,
gains and losses on the sale of businesses, and other gains and losses not related to the company\u2019s operating
activities.
Other operational costs
Other operational costs contain items which are dissimilar in nature and individually insignificant in amount
to disclose separately. These costs contain, among others, expenses for outsourcing services, mainly in IT and
Human Resources, third-party workers, consultants, warranties, patents, costs for travelling and external legal
services. Government grants of EUR 86 million were recognized as a cost reduction in 2025 (2024: EUR 91
million; 2023: EUR 95 million). The grants mainly relate to research and development activities and business
development.
Other business income (expenses)
Other business income (expenses) consists of:
Philips Group
Other business income (expenses) in millions of EUR
2025
2024
2023
Result on disposal of businesses:
income
2
27
50
expenses
(27)
(14)
-
Result on disposal of fixed assets:
income
3
3
12
expenses
(2)
-
(1)
Result on other remaining businesses:
income
82
560
49
expenses
(21)
(1,005)
(643)
Impairment of goodwill
-
-
(8)
Other business income (expenses)
36
(429)
(540)
Total other business income
87
590
112
Total other business expenses
(51)
(1,019)
(652)
The result on disposal of businesses mainly relates to income (expense) in the respective periods for
divestments of non-strategic businesses. For more information refer to Acquisitions and divestments.
The result on disposal of fixed assets mainly relates to the sale of real estate assets.
The result on other remaining businesses mainly relates to the revaluation of contingent consideration and
various legal matters. In 2024, Respironics recorded a EUR 984 million provision in connection with the
settlement of the Respironics personal injury and the medical monitoring claims in the US. Philips recorded
insurance income of EUR 538 million in connection with the agreement with insurers to partially reimburse
the Respironics recall-related product liability claims. For more information on contingent consideration, refer
to Provisions.
Impairment of goodwill
There were no goodwill impairment charges in 2025 and in 2024. For further information refer to Goodwill.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-694": { "value": "
6Income from operations
\"Icon_Accounting
Accounting policies
Other business income (expenses)
Other business income (expenses) includes gains and losses on the sale of property, plant and equipment,
gains and losses on the sale of businesses, and other gains and losses not related to the company\u2019s operating
activities.
Other operational costs
Other operational costs contain items which are dissimilar in nature and individually insignificant in amount
to disclose separately. These costs contain, among others, expenses for outsourcing services, mainly in IT and
Human Resources, third-party workers, consultants, warranties, patents, costs for travelling and external legal
services. Government grants of EUR 86 million were recognized as a cost reduction in 2025 (2024: EUR 91
million; 2023: EUR 95 million). The grants mainly relate to research and development activities and business
development.
Other business income (expenses)
Other business income (expenses) consists of:
Philips Group
Other business income (expenses) in millions of EUR
2025
2024
2023
Result on disposal of businesses:
income
2
27
50
expenses
(27)
(14)
-
Result on disposal of fixed assets:
income
3
3
12
expenses
(2)
-
(1)
Result on other remaining businesses:
income
82
560
49
expenses
(21)
(1,005)
(643)
Impairment of goodwill
-
-
(8)
Other business income (expenses)
36
(429)
(540)
Total other business income
87
590
112
Total other business expenses
(51)
(1,019)
(652)
The result on disposal of businesses mainly relates to income (expense) in the respective periods for
divestments of non-strategic businesses. For more information refer to Acquisitions and divestments.
The result on disposal of fixed assets mainly relates to the sale of real estate assets.
The result on other remaining businesses mainly relates to the revaluation of contingent consideration and
various legal matters. In 2024, Respironics recorded a EUR 984 million provision in connection with the
settlement of the Respironics personal injury and the medical monitoring claims in the US. Philips recorded
insurance income of EUR 538 million in connection with the agreement with insurers to partially reimburse
the Respironics recall-related product liability claims. For more information on contingent consideration, refer
to Provisions.
Impairment of goodwill
There were no goodwill impairment charges in 2025 and in 2024. For further information refer to Goodwill.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-712": { "value": "
6Income from operations
Audit and audit-related fees
The accompanying table shows the fees attributable to the fiscal years 2025, 2024 and 2023 for services
rendered by the external auditors.
Philips Group
Audit and audit-related fees in millions of EUR
2025
2024
PwC NL \u00b9
PwC
Network
Total
EY NL \u00b2
EY
Network
Total
Audit fees
6.5
6.2
12.7
9.5
5.5
15.0
consolidated financial statements
6.5
2.9
9.4
9.5
3.0
12.5
statutory financial statements
-
3.3
3.3
-
2.5
2.5
Audit-related fees \u00b3
1.3
-
1.3
1.9
0.3
2.2
sustainability assurance
1.3
-
1.3
1.6
-
1.6
other
0.1
-
0.1
0.3
0.3
0.6
Tax fees
-
-
-
-
-
-
All other fees
-
-
-
-
-
-
Fees
7.8
6.2
14.0
11.4
5.8
17.2
1PricewaterhouseCoopers Accountants N.V.
2EY Accountants B.V.
3Also known as Assurance fees
", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-711": { "value": "
6Income from operations
Government grants
Grants from governments are recognized at their fair value when there is a reasonable assurance that the
grant will be received and the company will comply with the conditions. Grants related to costs are deferred
in the consolidated balance sheet and recognized in the consolidated statement of income as a reduction of
the related costs that they are intended to compensate. Grants related to assets are deducted from the cost of
the asset and presented net in the consolidated balance sheets.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGovernmentGrants", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-710": { "value": "
6Income from operations
Employees
The number (full-time equivalents, or FTEs) of employees by category at year-end is summarized as:
Philips Group
Employees by category in FTEs as of December 31
2025
2024
2023
Production
28,167
27,478
28,640
Research & development
10,248
10,843
12,035
Other
26,402
27,795
26,818
Philips Employees
64,817
66,116
67,493
Third-party workers
1,585
1,708
2,163
Total
66,401
67,823
69,656
Philips employees consist of those persons working on the payroll of Philips and whose costs are reflected in
employee benefit expenses. Other consists of employees in commercial, general and administrative functions.
Third-party workers consist of personnel hired on a per-period basis, via external companies.
Philips Group
Employees by geographical location in average FTEs
2025
2024
2023
Netherlands
8,342
8,844
9,794
Other countries
58,691
60,113
62,471
Total
67,033
68,956
72,264
", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-709": { "value": "
6Income from operations
Employee benefits expense
Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as the
related service is provided. The company recognizes a liability and an expense for bonuses and incentives
based on a formula that takes into consideration the profit attributable to the company\u2019s shareholders after
certain adjustments.
Employee benefit expenses
Philips Group
Employee benefit expenses in millions of EUR
2025
2024
2023
Salaries and wages excluding share-based compensation
5,369
5,356
5,635
Share-based compensation
148
104
97
Post-employment benefit costs
371
388
402
Other social security and similar charges:
Required by law
582
580
567
Voluntary
211
211
202
Employee benefit expenses
6,681
6,641
6,903
The employee benefit expenses relate to employees who are working on the payroll of Philips, both with
permanent and temporary contracts.
For further information on post-employment benefit costs, refer to Post-employment benefits.
For details on the remuneration of the members of the Board of Management and the Supervisory Board,
refer to Information on remuneration.
19Provisions
Philips Group
Provisions in millions of EUR
Product warranty
Environmental
Restructuring-
related
Legal
Other
Post-employment
benefits
Contingent
consideration
Total
Current
624
22
102
477
181
-
57
1,463
Non-current
67
80
14
10
248
558
58
1,035
Balance as of December 31, 2023
692
102
116
487
429
558
115
2,498
Additions
439
9
131
1,015
185
81
5
1,865
Utilizations
(507)
(15)
(127)
(477)
(124)
(76)
(9)
(1,336)
Releases
(15)
-
(26)
(28)
(35)
(5)
(3)
(113)
Accretion
-
5
-
38
(1)
-
3
45
Changes in discount rate
-
(7)
-
-
-
-
-
(8)
Translation differences and other
(24)
4
(1)
44
(8)
2
3
21
Total change
(107)
(5)
(23)
592
16
3
(2)
474
Product warranty
Environmental
Restructuring-
related
Legal
Other
Post-employment
benefits
Contingent
consideration
Total
Current
522
20
77
1,066
229
-
61
1,977
Non-current
63
76
16
13
216
560
52
996
Balance as of December 31, 2024
585
96
94
1,079
446
560
113
2,972
Additions
328
7
169
15
116
66
4
706
Utilizations
(385)
(14)
(124)
(1,047)
(166)
(85)
(1)
(1,821)
Releases
(32)
-
(46)
(8)
(26)
-
(2)
(114)
Accretion
-
4
-
1
-
-
1
7
Translation differences and other
(39)
(11)
(4)
(9)
(33)
(22)
(5)
(123)
Total change
(129)
(13)
(4)
(1,048)
(109)
(40)
(3)
(1,345)
Current
373
19
84
18
140
-
77
712
Non-current
83
64
5
12
196
520
34
915
Balance as of December 31, 2025
456
83
90
31
337
520
111
1,627
Other provisions
The main elements of other provisions are:
Philips Group
Other provisions in millions of EUR
2025
2024
Other long-term employee benefits
70
80
Self-insurance
74
60
Non-income taxes / social security
32
48
Rights of return
34
44
Decommissioning costs
34
37
Onerous contracts
36
66
Remaining
57
111
Balance as of December 31
337
446
Remaining provisions relate to a variety of positions, for example
provision for disability of employees and provision for royalty obligations. The releases in 2024 and 2025
reflect updated assessments of these provisions throughout the year. The company expects the other
provisions to be utilized mainly within the next five years
20Post-employment benefits
\"Icon_Accounting
Accounting policies
Defined contribution plans
A defined contribution plan is a post-employment benefit plan for which the company pays fixed
contributions into a separate entity and will have no legal or constructive obligation to pay further amounts.
Obligations for contributions to defined contribution pension plans are recognized as an employee benefit
expense in the Consolidated statements of income in the periods during which services are rendered by
employees.
Defined benefit plans
A defined benefit plan is a post-employment benefit plan that is not a defined contribution plan. Defined
benefit plans define an amount of pension benefit that an employee will receive after retirement. That
pension benefit typically depends on several factors such as years of service, age and salary.
The net pension asset or liability recognized in the Consolidated balance sheets in respect of defined benefit
plans is the fair value of plan assets less the present value of the projected defined benefit obligation at the
balance sheet date. The defined benefit obligation is calculated annually by qualified actuaries using the
projected unit credit method. Recognized assets are limited to the present value of any reductions in future
contributions or any future refunds. The net pension liability is presented as a long-term provision; no
distinction is made for the short-term portion.
For the company\u2019s major plans, a full discount rate curve of high-quality corporate bonds is used to determine
the defined benefit obligation, where available. The curves are based on the Mercer Yield Curve
methodology, which uses data of corporate bonds rated AA or equivalent. For the other plans, a single point
on the Mercer Yield Curve is used corresponding to the average maturity of the defined benefit obligation. In
countries without a deep corporate bond market, the discount rate is based on government bonds.
Pension costs with respect to defined benefit plans primarily represent the increase of the actuarial present
value of the obligation for post-employment benefits based on employee service during the year and the
interest on the net recognized asset or liability with respect to employee service in previous years.
Remeasurements of the net defined benefit asset or liability comprise actuarial gains and losses, the return on
plan assets (excluding interest) and the effect of the asset ceiling (excluding interest). The company recognizes
all remeasurements in Other comprehensive income.
Past service costs arising from the introduction of a change to the benefit payable under a plan or a
significant reduction of the number of employees covered by a plan (curtailment) are recognized in full in the
Consolidated statements of income.
The company\u2019s net obligation with respect to other long-term employee benefits is the amount of future
benefit that employees have earned in return for their service in the current and prior periods, such as jubilee
entitlements. That benefit is discounted to determine its present value. Remeasurements are recognized in
the Consolidated statements of income in the period in which they arise.
Further information on other long-term employee benefits can be found in Provisions in the Other provisions
section.
\"Icon_Accounting
Accounting estimates and judgments
To make the actuarial calculations for the valuation of defined benefit obligations, assumptions are needed
for discount rates, healthcare cost increases, future salary increases, future pension increases, life expectancy
and employee turnover rates. The actuarial calculations are made by external actuaries based on inputs from
observable market data, such as corporate bond yield curves to determine the discount rates, mortality tables
to determine life expectancy and inflation rates to determine future salary increases and future pension
increases.
Post-employment benefit plans have been established in many countries in accordance with the legal
requirements, customs and the local practice in the countries involved. The larger part of post-employment
benefits are company pension plans, of which some are funded and some are unfunded. All funded post-
employment benefit plans are considered to be related parties.
Most employees who take part in a company pension plan are covered by defined contribution (DC) pension
plans. The main DC plans are in the Netherlands and the US. The company also sponsors a number of defined
benefit (DB) pension plans. The benefits provided by these plans are based on employees\u2019 years of service and
compensation levels.
The company also sponsors a limited number of retiree medical plans. The benefits provided by these plans
typically cover a part of the healthcare costs after retirement. None of these plans are individually significant
to the company and are therefore not further separately disclosed.
The larger funded DB and DC plans are governed by independent trustees who have a legal obligation to
protect the interests of all plan members and operate under the local regulatory framework.
The DB plans in Germany make up most of the defined benefit obligation (DBO) and the net position. In 2025,
the US qualified DB pension plan was fully terminated. The company also has DB plans in the rest of the
world; however, these are individually not significant to the company and do not have a significantly different
risk profile that would warrant separate disclosure.
Plan assets are managed in legally separate pension trusts, primarily overseen by independent trustees, who
bear full responsibility for and have complete discretion over the investment strategy for these plan assets.
The plan assets of the Philips pension plans are invested in well-diversified portfolios.
The adjacent table provides a breakdown of the present value of the funded and unfunded DBO, the fair
value of plan assets and the net position in Germany, the US and in other countries. The table also provides
the value of reimbursement rights.
Philips Group
Post-employment benefits in millions of EUR
Germany
United States
Other countries
Total
2025
2024
2025
2024
2025
2024
2025
2024
Present value of funded DBO
(499)
(531)
(416)
(209)
(205)
(708)
(1,152)
Present value of unfunded DBO
(224)
(242)
(117)
(131)
(131)
(134)
(472)
(507)
Total present value of DBO
(723)
(773)
(117)
(547)
(340)
(339)
(1,180)
(1,659)
Fair value of plan assets
472
496
465
190
189
662
1,150
Asset ceiling
(1)
(1)
(1)
(1)
Net position
(251)
(277)
(117)
(82)
(151)
(151)
(519)
(510)
Value of reimbursement rights
7
7
7
7
The classification of the net position is:
Philips Group
Classification net position in millions of EUR
Germany
United States
Other countries
Total
2025
2024
2025
2024
2025
2024
2025
2024
Total asset for plans in a surplus
-
-
-
49
-
1
-
50
Total liability for plans in a deficit
(251)
(277)
(117)
(131)
(152)
(152)
(520)
(560)
Net position
(251)
(277)
(117)
(82)
(151)
(151)
(519)
(510)
Germany
The company has several DB plans in Germany, some of which are unfunded. The plan assets of the funded DB
plans in Germany are held in a legally separate pension trust.
Due to the relatively high level of social security in Germany, the company\u2019s pension plans mainly provide
benefits for the higher earners. The plans are open for future pension accrual. Indexation is mandatory due to
legal requirements. Some of the German plans have a DC design, but are accounted for as DB plans due to a
legal minimum return requirement.
Company pension commitments in Germany are largely protected against employer bankruptcy via the
Pensions-Sicherungs-Verein, which charges a fee to all German companies providing pension promises.
Philips participates in the Philips Pensionskasse (VVaG), a legally independent pension institution established
under German law and subject to supervision by the German Federal Financial Supervisory Authority (BaFin).
In accordance with the terms of the arrangement, the obligation of Philips is limited to the payment of fixed
contributions to the Philips Pensionskasse. The Philips Pensionskasse itself bears the actuarial and investment
risks associated with the pension benefits and is responsible for meeting benefit payments to members.
Although German statutory labor law provides for a subsidiary employer liability in the event that a pension
institution is unable to fulfil its obligations, this liability is contingent in nature. Based on the funding
position, regulatory framework, historical experience and ongoing supervision by BaFin, Philips does not have
a present or probable obligation to make additional payments beyond the contractually agreed contributions.
Accordingly, Philips classifies the Philips Pensionskasse as a defined contribution plan.
United States
In 2025, the US qualified DB pension plan was fully terminated. The remaining US non-qualified DB pension
plans are closed plans without future pension accrual. Some of the non-qualified DB pension plans are funded
through a trust, which assets do not qualify as plan assets.
The assets of the US qualified DC pension plan are held in a trust governed by fiduciaries.
The settlement of the terminated US qualified DB pension plan, which is recorded as a past service cost, did
not have a material impact on the company\u2019s results or cash flows in 2025.
Risks related to DB plans
DB plans expose the company to various demographic and economic risks such as longevity risk, investment
risks, currency and interest rate risk and in some cases inflation risk. The latter plays a role in the assumed
salary increase but more importantly in some countries where indexation of pension accruals is mandatory.
The company has an active de-risking strategy in which it constantly looks for opportunities to reduce the risks
associated with its DB plans. Lump sum cash-out options, buy-ins, buy-outs and a change to DC are examples
of this strategy.
Summary of pre-tax costs for post-employment benefits and reconciliations
The adjacent table contains the total of current and past service costs, administration costs and settlement
results as included in Income from operations and the interest cost as included in Financial expenses.
Philips Group
Pre-tax costs for post-employment benefits in millions of EUR
2025
2024
2023
Defined benefit plans
71
43
47
- included in income from operations
54
23
25
- included in financial expense
17
20
21
- included in Discontinued operations
-
-
-
Defined contribution plans
317
365
376
- included in income from operations
317
365
376
- included in Discontinued operations
-
-
-
Post-employment benefits costs
388
408
423
Summary of the reconciliations for the DBO and plan assets
The adjacent tables contain the reconciliations for the DBO and plan assets.
Philips Group
Defined benefit obligations in millions of EUR
2025
2024
Balance as of January 1
1,659
1,605
Service cost
31
29
Interest cost
52
65
Employee contributions
4
4
Actuarial (gains) / losses
- demographic assumptions
(1)
-
- financial assumptions
(49)
20
- experience adjustment
1
9
(Negative) past service cost
13
(7)
Settlements
(331)
1
Benefits paid from plan
(103)
(63)
Benefits paid directly by employer
(36)
(36)
Translation differences and other
(60)
32
Balance as of December 31
1,180
1,659
Philips Group
Plan assets in millions of EUR
2025
Asset ceiling
2025
2024
Asset ceiling
2024
Balance as of January 1
1,150
(1)
1,089
-
Interest income on plan assets
35
-
45
-
Admin expenses paid
(1)
-
(1)
-
Return on plan assets excluding interest income
(34)
-
13
-
Employee contributions
4
-
4
-
Employer contributions
(5)
-
30
-
Settlements
(340)
-
-
-
Benefits paid from plan
(103)
-
(63)
-
Translation differences and other
(44)
-
33
(1)
Balance as of December 31
662
(1)
1,150
(1)
The past service costs in 2025 mainly relate to the termination of the US qualified DB pension plan and the
impact of new labor codes in India. The past service costs in 2024 mainly relate to the retiree medical plans in
Brazil and the pension plan in Switzerland.
Plan assets allocation
The asset allocation in the company\u2019s DB plans as of December 31, 2025 and 2024, were:
Philips Group
Plan assets allocation in millions of EUR
2025
2024
Assets quoted in active markets
- Debt securities
216
460
- Equity securities
12
12
- Other 1
180
431
Assets not quoted in active markets
- Debt securities
1
-
- Equity securities
-
-
- Other \u00b9
253
247
Total assets
662
1,150
1Other assets are primarily composed of cash and cash equivalents, real estate, investment funds, and assets managed by
insurance companies.
The plan assets in 2025 contain 38% (2024: 22%) unquoted plan assets. Plan assets in 2025 do not include
property occupied by or financial instruments issued by the company.
Assumptions
The mortality tables used for the company\u2019s largest DB plans are:
\u2022 Germany: Heubeck-Richttafeln 2018 Generational, assuming 93% of mortality rates for male retirees
between ages 60 and 85
\u2022 US: PRI-2012 Generational with MP2021 improvement scale + white collar adjustment
The weighted averages of the assumptions used to calculate the DBO were:
Philips Group
Assumptions used for defined benefit obligations\u00a0in %
as of December 31,
Germany
United States
Other countries
Total
2025
2024
2025
2024
2025
2024
2025
2024
Discount rate
3.9%
3.3%
5.0%
5.1%
4.4%
4.2%
4.1%
4.0%
Inflation rate
2.0%
2.0%
2.3%
2.3%
2.1%
2.2%
2.0%
2.1%
Salary increase
2.8%
2.8%
0.0%
0.0%
4.5%
4.4%
3.1%
3.1%
Sensitivity analysis
The following table illustrates the approximate impact on the DBO from movements in key assumptions. The
DBO was recalculated using a change in the assumptions of 1% which overall is considered a reasonably
possible change. The impact on the DBO because of changes in discount rate is normally accompanied by
partly offsetting movements in plan assets.
The average duration in years of the DBO of the DB plans is 9 (Germany: 10, US: 7, and other countries: 9) as
of December\u00a031, 2025 (2024: 10).
Philips Group
Sensitivity of key assumptions in millions of EUR
2025
2024
Increase
Discount rate (1% movement)
(80)
(123)
Pension increase (1% movement)
54
60
Salary increase (1% movement)
12
14
Longevity \u00b9
26
34
Decrease
Discount rate (1% movement)
98
150
Pension increase (1% movement)
(47)
(52)
Salary increase (1% movement)
(11)
(12)
Longevity \u00b9
(21)
(24)
1The mortality table (i.e., longevity) also impacts the DBO. The above sensitivity table illustrates the impact on the DBO of a
further 10% decrease / increase in the assumed rates of mortality for the company\u2019s major plans. A 10% decrease / increase in
assumed mortality rates equals a change of life expectancy by 0.5\u00a0- 1 year.
Cash flows and costs in 2026
Cash outflows in relation to post-employment benefits are estimated to amount to EUR 382 million in 2026,
consisting of:
\u2022 EUR 24 million employer contributions to DB plans (Germany: EUR 10 million, US: EUR 0 million, other
countries: EUR 14 million)
\u2022 EUR 42 million cash outflows in relation to DB plans (Germany: EUR 20 million, US: EUR 9 million, other
countries: EUR 13 million)
\u2022 EUR 316 million employer contributions to DC plans (Netherlands: EUR 142 million, US: EUR 111 million,
other countries: EUR 63 million)
The service and administration cost for 2026 is expected to amount to EUR 30 million for DB plans. The net
interest cost for 2026 for the DB plans is expected to amount to EUR 21 million. The cost for DC pension plans
in 2026 is equal to the expected DC cash flow.
27Information on remuneration
Remuneration of the Executive Committee
In 2025 , the total remuneration costs relating to the Executive Committee (consisting of 14 members
throughout the year, including the members of the Board of Management) amounted to EUR 42 million
(2024 : EUR 32 million; 2023 : EUR 33 million) and consisted of the elements in the following table.
Philips Group
Remuneration costs of the Executive Committee 1 in EUR
2025
2024
2023
Base salary/Base compensation
9,734,874
9,362,765
8,729,458
Annual incentive \u00b2
8,639,381
5,292,388
11,405,130
Performance shares \u00b3
21,180,588
12,673,614
7,272,815
Stock options
42,805
90,503
13,358
Restricted share rights \u00b3
266,414
999,374
1,907,511
Pension allowances \u2074
1,246,863
1,197,695
1,346,937
Pension scheme costs
226,177
269,092
260,554
Other compensation \u2075
1,050,399
2,136,668
1,900,224
Total
42,387,499
32,022,099
32,835,987
1The Executive Committee consisted of 14 members as per December\u00a031, 2025 (2024 : 13 members; 2023: 13 members)
2The annual incentives are related to the performance in the year reported which are paid out in the subsequent year.
3Costs of performance shares and restricted share rights are based on accounting standards (IFRS) and do not reflect the value of
performance shares at the vesting/release date
4Pension allowances are gross taxable allowances paid to the Executive Committee members in the Netherlands. These
allowances are part of the pension arrangement
5The stated amounts mainly concern (share of) allowances to members of the Executive Committee that can be considered as
remuneration. In a situation where such a share of an allowance can be considered as (indirect) remuneration (for example,
private use of the company car), then the share is both valued and accounted for here. The method employed by the fiscal
authorities is the starting point for the value stated.
Remuneration of the Board of Management
In 2025, the total remuneration costs relating to the members of the Board of Management amounted to EUR
13 million (2024: EUR 10 million; 2023: EUR 10 million).
Remuneration of the Supervisory Board
The remuneration of the members of the Supervisory Board amounted to EUR 1.8 million (2024: EUR 1.7
million; 2023: EUR 1.5 million). Former members received no remuneration. The members of the Supervisory
Board do not receive any share-based remuneration. Therefore, as of December\u00a031, 2025, the members of the
Supervisory Board held no stock options, performance shares or restricted shares.
Supervisory Board members\u2019 and Board of Management members\u2019 interests in Philips shares
Members of the Supervisory Board and of the Board of Management are prohibited from writing call and put
options or similar derivatives of Philips securities.
Philips Group
Shares held by Board members 1 2 in number of shares
December 31, 2025
December 31, 2024
R.W.O. Jakobs
147,397
134,298
M.J. van Ginneken
147,126
137,753
P.A. Stoffels
19,143
18,366
S.J. Poonen
11,899
3,240
I.K. Nooyi
3,489
3,348
D. Pyott
Retired
20,526
S.K. Chua
2,251
2,160
F. Sijbesma
25,854
25,854
A.M. Harrison
1,688
1,620
P. L\u00f6scher
23,345
22,398
1Reference date for board membership is December\u00a031, 2025
2The total shares held by the members of the Board of Management is less than 1% of the company's issued share capital.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-708": { "value": "
6Income from operations
Government grants
Grants from governments are recognized at their fair value when there is a reasonable assurance that the
grant will be received and the company will comply with the conditions. Grants related to costs are deferred
in the consolidated balance sheet and recognized in the consolidated statement of income as a reduction of
the related costs that they are intended to compensate. Grants related to assets are deducted from the cost of
the asset and presented net in the consolidated balance sheets.
Other operational costs
Other operational costs contain items which are dissimilar in nature and individually insignificant in amount
to disclose separately. These costs contain, among others, expenses for outsourcing services, mainly in IT and
Human Resources, third-party workers, consultants, warranties, patents, costs for travelling and external legal
services. Government grants of EUR 86 million were recognized as a cost reduction in 2025 (2024: EUR 91
million; 2023: EUR 95 million). The grants mainly relate to research and development activities and business
development.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGovernmentGrantsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-707": { "value": "
6Income from operations
The result on other remaining businesses mainly relates to the revaluation of contingent consideration and
various legal matters. In 2024, Respironics recorded a EUR 984 million provision in connection with the
settlement of the Respironics personal injury and the medical monitoring claims in the US. Philips recorded
insurance income of EUR 538 million in connection with the agreement with insurers to partially reimburse
the Respironics recall-related product liability claims. For more information on contingent consideration, refer
to Provisions.
19Provisions
\"Icon_Accounting
Accounting policies
A provision is a liability of uncertain timing or amount. Provisions are recognized if, as a result of a past event,
the company has a present legal or constructive obligation, it is probable that an outflow of economic
benefits will be required to settle the obligation, and the amount can be estimated reliably. Provisions are
measured at the present value of the expenditures expected to be required to settle the obligation using a
pre-tax discount rate that reflects current market assessments of the time value of money. The increase in the
provision due to passage of time (accretion) is recognized as interest expense. Provisions include contingent
consideration and defined benefit obligations (DBO), which represent financial liabilities characterized by
uncertainty regarding their timing or amount.
Restructuring-related provisions
Provisions for severance and termination benefits are recognized for those costs only when the company has a
detailed formal plan for the restructuring and has raised a valid expectation with those affected that it will
carry out the restructuring by starting to implement that plan or announcing its main features to those
affected by it. Before a provision is established, the company recognizes any impairment loss on the assets
associated with the restructuring.
\"Icon_Accounting
Accounting estimates and judgments
By their nature, the recognition of provisions requires estimates and assumptions regarding the timing and
the amount of outflow of resources. The main estimates include:
\u2022 Product warranty provisions: the provisions for assurance-type product warranty reflect the estimated costs
of replacement and free-of-charge services that will be incurred by the company with respect to products
sold and include costs to execute quality remediation and related field actions (including the Respironics
field action). These require management to make estimates and assumptions about items such as quantities
and the portion of products to be remediated through replacement, repair or (partial) refund.
\u2022 Environmental provisions: provisions for environmental remediation can change significantly due to the
emergence of additional information regarding the extent or nature of the contamination, the need to
utilize alternative technologies, actions by regulatory authorities as well as changes in judgments and
discount rates. The impact of climate change is also considered when assessing whether Philips has a
present legal or constructive obligation, particularly in relation to fines, penalties and commitments to
reduce greenhouse gas emissions.
\u2022 Legal provisions: provisions for legal claims and investigations reflect the best estimate of the outflow of
resources, supported by internal and external legal counsel, when it is probable that such outflow of
resources will be required to settle an obligation.
Philips Group
Provisions in millions of EUR
Product warranty
Environmental
Restructuring-
related
Legal
Other
Post-employment
benefits
Contingent
consideration
Total
Current
624
22
102
477
181
-
57
1,463
Non-current
67
80
14
10
248
558
58
1,035
Balance as of December 31, 2023
692
102
116
487
429
558
115
2,498
Additions
439
9
131
1,015
185
81
5
1,865
Utilizations
(507)
(15)
(127)
(477)
(124)
(76)
(9)
(1,336)
Releases
(15)
-
(26)
(28)
(35)
(5)
(3)
(113)
Accretion
-
5
-
38
(1)
-
3
45
Changes in discount rate
-
(7)
-
-
-
-
-
(8)
Translation differences and other
(24)
4
(1)
44
(8)
2
3
21
Total change
(107)
(5)
(23)
592
16
3
(2)
474
Product warranty
Environmental
Restructuring-
related
Legal
Other
Post-employment
benefits
Contingent
consideration
Total
Current
522
20
77
1,066
229
-
61
1,977
Non-current
63
76
16
13
216
560
52
996
Balance as of December 31, 2024
585
96
94
1,079
446
560
113
2,972
Additions
328
7
169
15
116
66
4
706
Utilizations
(385)
(14)
(124)
(1,047)
(166)
(85)
(1)
(1,821)
Releases
(32)
-
(46)
(8)
(26)
-
(2)
(114)
Accretion
-
4
-
1
-
-
1
7
Translation differences and other
(39)
(11)
(4)
(9)
(33)
(22)
(5)
(123)
Total change
(129)
(13)
(4)
(1,048)
(109)
(40)
(3)
(1,345)
Current
373
19
84
18
140
-
77
712
Non-current
83
64
5
12
196
520
34
915
Balance as of December 31, 2025
456
83
90
31
337
520
111
1,627
Post-employment benefits
For details of post-employment benefits refer to Post-employment benefits.
Product warranty provisions
Product warranty provisions include costs of replacements and repair services that will be incurred by the
company in relation to products sold, to execute quality remediation and related field actions, as well as the
field action provision in connection with the Respironics voluntary recall notification, which is explained
separately in the next section. The company expects the provisions to be utilized mainly within 2026.
Additions in 2025 include EUR 149 million for replacement and repair services related to products sold under
warranty, as well as EUR 138 million and EUR 40 million for quality remediation and related field actions in
the Diagnosis & Treatment and Connected Care segments, respectively.
Respironics field-action provision
On June 14, 2021, Philips subsidiary Philips Respironics initiated a voluntary recall notification in the US and
field safety notice outside the US for certain sleep and respiratory care products related to the polyester-based
polyurethane (PE-PUR) sound abatement foam in these devices. The remediation continues to progress
globally. As of December\u00a031, 2025, the total number of units remaining that are expected to be remediated is
approximately 65,000 devices worldwide.
Philips has recognized a provision based on Philips\u2019 best estimate of the costs to repair, replace or refund
devices, subject to the Respironics field action. The provision is related to the cost to repair, replace or provide
financial compensation for affected devices and includes, among others, the costs for the remaining
production, the cost of intensified communication with physicians and patients, material costs, labor cost and
logistics, as well as costs relating to financial compensation provided to customers under the field action. The
provision does not include any product liability costs or other claims.
Philips Group
Respironics field-action provision in millions of EUR
2025
2024
Balance as of January 1
130
334
Additions
15
30
Utilizations
(92)
(220)
Translation differences and other
(17)
(14)
Balance as of December 31
36
130
Utilizations for the year reflect the costs incurred in executing the remediation during the year.
The completion of the field action continues to be subject to uncertainty, which requires management to
make estimates and assumptions about items such as quantities and the portion to be replaced, repaired and
subject to financial compensation.
Further to the above, field-action running remediation costs during the year of EUR 112 million (2024: EUR
133 million, 2023: EUR 224 million), such as testing, external advisory and regulatory response and additional
right-of-return and warranty provisions, have been incurred.
Philips and its affiliates are defendants in a number of consumer class action lawsuits from users of the
affected devices and a number of individual personal injury and other compensation claims. For legal matters
including claims refer to the legal provisions section of this note as well as Contingencies.
Environmental provisions
The environmental provisions include accrued costs recorded with respect to environmental remediation in
various countries. In the US, subsidiaries of the company have been named as potentially responsible parties in
state and federal proceedings for the clean-up of certain sites.
The additions and the releases of the provisions originate from additional insights in relation to factors like
the estimated cost of remediation, changes in regulatory requirements and efficiencies in completion of
various site work phases.
Approximately EUR 60 million of the long-term provision is expected to be utilized after one to five years,
with the remainder after five years. For more details on the environmental remediation refer to
Contingencies.
Restructuring-related provisions
Philips Group
Restructuring-related provisions\u00a0in millions of EUR
December 31,
2025
December 31,
2024
Diagnosis & Treatment
27
34
Connected Care
22
19
Personal Health
7
15
Other
34
26
Philips Group
90
94
In 2025, Philips continued general productivity actions aimed at simplifying the organization as part of its
multi-year plan designed to create value with sustainable impact. As of December 31, 2025, the most
significant restructuring projects impacted segments Other and Diagnosis & Treatment and mainly took place
in the Netherlands, the US and Germany. The restructuring comprised mainly product portfolio rationalization
and the reorganization of global support functions. The company expects the provisions to be utilized mainly
within the next year.
Legal provisions
Philips is a defendant in a number of consumer class-action lawsuits from users of the affected devices and a
number of individual personal injury and other compensation claims related to the Respironics recall.
On May 9, 2024, Philips Respironics reached agreement on a class action settlement in relation to the pending
US medical monitoring class action complaint and a private settlement in relation to US personal injury claims
for an aggregate amount of USD 1.1 billion. Both agreements became final in January 2025 following a
successful registration process for the personal injury settlement and subsequently the settlement amounts
have been fully paid in the first half of 2025.
Utilizations of EUR 1,047 million mainly relate to the medical monitoring and personal injury claims class
action settlement in the US that was paid in 2025.
For details of other legal matters, including regulatory and other governmental proceedings, refer to
Contingencies .
The company expects the provisions to be utilized mainly within the next three years.
Contingent consideration
There is no material movement in 2025 and approximately EUR 32 million of the non-current amount is
expected to be utilized after three years. These amounts relate to previous acquisitions in 2018 and 2022.
Other provisions
The main elements of other provisions are:
Philips Group
Other provisions in millions of EUR
2025
2024
Other long-term employee benefits
70
80
Self-insurance
74
60
Non-income taxes / social security
32
48
Rights of return
34
44
Decommissioning costs
34
37
Onerous contracts
36
66
Remaining
57
111
Balance as of December 31
337
446
Onerous contracts reflect non-cancellable commitments on supplies for which no future demand or
alternative usage has been identified. Remaining provisions relate to a variety of positions, for example
provision for disability of employees and provision for royalty obligations. The releases in 2024 and 2025
reflect updated assessments of these provisions throughout the year. The company expects the other
provisions to be utilized mainly within the next five years", "dimensions": { "concept": "ifrs-full:DisclosureOfProvisionsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-706": { "value": "
6Income from operations
Impairment of goodwill
There were no goodwill impairment charges in 2025 and in 2024. For further information refer to Goodwill.
10Property, plant and equipment
\"Icon_Accounting
Accounting policies
\"Icon_Accounting
Accounting estimates and judgments
Impairment of owned and right-of-use assets
Judgments are required, not only to determine whether there is an indication that an asset may be impaired,
but also whether indications exist that impairment losses previously recognized may no longer exist or may
have decreased (impairment reversal). After indications of impairment have been identified, estimates and
assumptions are used in the determination of the recoverable amount of a fixed asset. These involve estimates
of expected future cash flows (based on future growth rates and remaining useful life) and residual value
assumptions, as well as discount rates to calculate the present value of the future cash flows.
Philips Group
Property, plant and equipment\u00a0in millions of EUR
Owned assets
Right-of-use assets
Property, plant and equipment
Land and
buildings
Machinery and
installations
Other equipment
Assets under
construction
Total
Land and
buildings
Other equipment
Total
Total
Balance as of January 1, 2024
Cost
1,114
1,731
1,404
274
4,521
1,425
216
1,641
6,162
Accumulated depreciation
(638)
(1,278)
(1,041)
-
(2,957)
(619)
(104)
(722)
(3,679)
Book value
476
453
363
274
1,565
806
113
919
2,483
Additions
2
134
76
236
448
101
87
189
637
Assets available for use
12
70
140
(248)
(26)
26
-
26
-
Depreciation
(49)
(191)
(166)
-
(406)
(146)
(56)
(202)
(608)
Impairments
(14)
(23)
(28)
-
(65)
(23)
-
(23)
(89)
Reclassifications
7
(6)
8
(1)
8
(9)
(3)
(12)
(4)
Translation differences and other
20
2
9
10
41
(6)
(4)
(10)
31
Total change
(22)
(13)
38
(3)
1
(57)
24
(33)
(32)
Balance as of December 31, 2024
Cost
1,151
1,790
1,527
271
4,738
1,462
241
1,702
6,441
Accumulated depreciation
(697)
(1,350)
(1,126)
-
(3,173)
(712)
(104)
(816)
(3,989)
Book value
454
440
401
271
1,565
749
137
886
2,452
Additions
1
148
41
271
461
25
78
103
564
Assets available for use
42
69
127
(239)
(1)
1
-
1
-
Depreciation
(44)
(174)
(155)
-
(373)
(132)
(58)
(190)
(563)
Impairments
(1)
(17)
(14)
-
(33)
(7)
-
(7)
(39)
Divestments and transfers to assets classified as held for sale
(1)
-
(2)
(2)
(5)
(1)
-
(1)
(6)
Reclassifications
5
(5)
(15)
(3)
(18)
-
-
-
(18)
Translation differences and other
(28)
(52)
(28)
(23)
(132)
(28)
(13)
(41)
(173)
Total change
(26)
(31)
(46)
3
(100)
(142)
8
(134)
(235)
Balance as of December 31, 2025
Cost
1,105
1,550
1,411
274
4,340
1,328
255
1,583
5,923
Accumulated depreciation
(677)
(1,142)
(1,055)
-
(2,875)
(721)
(110)
(831)
(3,706)
Book value
428
408
355
274
1,465
607
145
752
2,217
11Goodwill
\"Icon_Accounting
Accounting policies
The measurement of goodwill at initial recognition is described in the Acquisitions and divestments note.
Goodwill is subsequently measured at cost, less accumulated impairment losses.
Goodwill is not amortized but is instead tested for impairment annually in the fourth quarter, or more
frequently if indicators of potential impairment exist. Internal and external sources of information are
considered to assess if there are indicators that an asset or groups of cash-generating units (CGUs) may be
impaired. Goodwill is allocated to groups of CGUs and tested for impairment at the Business level (one level
below segment), which represents the lowest level at which goodwill is monitored internally for management
purposes. An impairment loss is recognized in the Consolidated statements of income whenever and to the
extent that the carrying amount of a group of CGUs exceeds the recoverable amount for the group of CGUs,
whichever is the greater, its value in use or its fair value less cost of disposal. Value in use is measured as the
present value of future cash flows expected to be generated by the asset. Fair value less cost of disposal is
measured as the amount obtained from the sale of an asset in an arm\u2019s length transaction, less costs of
disposal.
\"Icon_Accounting
Accounting estimates and judgments
The cash flow projections used in the value in use calculations for goodwill impairment testing contain various
judgments and estimations as described in the \u2018key assumptions\u2019 section.
The changes in 2024 and 2025 were:
Philips Group
Goodwill in millions of EUR
2025
2024
Balance as of January 1
Cost
12,777
12,133
Impairments
(2,394)
(2,256)
Book value
10,383
9,876
Divestments and transfers to assets classified as held for sale
(53)
(22)
Translation differences and other
(1,058)
528
Total change
(1,112)
507
Balance as of December 31
Cost
11,367
12,777
Impairments
(2,096)
(2,394)
Book value
9,271
10,383
In 2025, goodwill decreased by EUR 1,112 million, primarily as a result of translation differences.
Goodwill impairment testing
During 2025, there were no goodwill impairments recorded.
Goodwill allocated to the Businesses (groups of cash-generating units) as of December\u00a031, 2025, is presented
in the accompanying table:
Philips Group
Goodwill by business in millions of EUR
2025
2024
Monitoring
3,752
4,194
Image-Guided Therapy
2,888
3,216
Precision Diagnosis
1,289
1,440
Sleep & Respiratory Care
625
694
Personal Health
469
509
Enterprise Informatics
248
331
Book value
9,271
10,383
The carrying amount of each group of CGUs is compared to the recoverable amount of the group of CGUs.
Unless otherwise noted, the recoverable amount for each group of CGUs is based on value-in-use calculations.
Cash flow projections were determined using Philips management's internal forecasts that cover an initial
forecast period from 2026 to 2028. Projections were extrapolated using the growth rates disclosed in the
accompanying table for an extrapolation period of 4 years (2029-2032), after which a terminal value was
calculated per 2033. However, when appropriate, management may apply a longer explicit forecast period for
certain CGUs. For the terminal value calculation, growth rates were capped at a historical long-term average
growth rate. The company uses scenarios in the business forecasting process and the most reasonable and
supportable assumptions that represent management\u2019s best estimate are used as the basis for the value-in-use
calculations.
Key assumptions
Key assumptions used in the value-in-use calculations were compound sales growth rates, EBITA* in the
terminal value and the rates used for discounting the projected cash flows.
The compound sales growth rate is the annualized steady nominal growth rate over the forecast period
calculated with reference to the latest full year of actual sales as the base for the growth. The compound sales
growth rate used to calculate the terminal value is only applied to the first year after the extrapolation
period, after which no further growth is assumed for the terminal value calculation.
The compound sales growth rates and EBITA* used to estimate cash flows are based on past performance,
external market growth assumptions and industry long-term growth averages. EBITA* for each group of CGUs
is expected to increase over the projection period as a result of volume growth and cost efficiencies. By their
nature, these assumptions involve risk and uncertainty because they relate to future events and circumstances
and there are many factors that could cause actual results and developments to differ materially from the
plans, goals and expectations set forth in these assumptions.
The rates used for discounting the projected cash flows in goodwill impairment testing is based on a weighted
cost of capital (WACC), which in turn is based on business-specific inputs along with other inputs as mentioned
below. The WACC is based on post-tax cost of equity and cost of debt, and is further calculated based on
market data and inputs to accurately capture changes to the time value of money, such as the risk-free
interest rate, the beta factor and country risk premium. In order to properly reflect the different risk profiles
of different businesses, a WACC is determined for each business. As such, the beta factor is determined based
on a selection of peer companies, which can differ per business. Different businesses have different
geographical footprints, resulting in business-specific inputs for variables like country risk. Philips performs the
value-in-use calculations using post-tax cash flows and discount rate, the implicit pre-tax rate discount rate is
derived from an iterative calculation for disclosure purposes.
The values assigned to the key assumptions used for the value-in-use calculations for 2025 and 2024 were:
Philips Group
Key assumptions\u00a02025
Compound sales growth rate
Initial forecast
period
Extrapolation
period
Used to calculate
terminal value
Pre-tax discount
rates
Monitoring
5.6%
4.3%
2.5%
9.0%
Image-Guided Therapy
6.7%
4.6%
2.5%
9.8%
Precision Diagnosis
3.1%
3.8%
2.5%
10.4%
Sleep & Respiratory Care
10.8%
7.3%
2.5%
11.8%
Personal Health
5.5%
4.2%
2.5%
9.9%
Enterprise Informatics
3.9%
3.1%
2.5%
9.6%
Philips Group
Key assumptions \u00a02024
compound sales growth rate
initial forecast
period
extrapolation
period
used to calculate
terminal value
pre-tax discount
rates
Monitoring
5.3%
4.7%
2.5%
9.1%
Image-Guided Therapy
6.3%
5.0%
2.5%
9.7%
Precision Diagnosis
2.4%
3.6%
2.5%
9.9%
Sleep & Respiratory Care
10.1%
7.3%
2.5%
10.3%
Personal Health
5.1%
4.2%
2.5%
9.9%
Enterprise Informatics
4.4%
5.4%
2.5%
8.9%
Sensitivity to changes in assumptions
Based on the annual impairment test, the estimated recoverable amount of the Enterprise Informatics CGU
exceeds the carrying amount by EUR 148\u00a0million. It was noted that an increase of 150 basis points in the pre-
tax discount rate, a 250 basis point decline in the compound sales growth rate or a 24% decrease in EBITA* in
the final year would, individually, cause its recoverable amount to fall to the level of its carrying value.
The results of the annual impairment tests of Monitoring, Image-Guided Therapy, Precision Diagnosis, Sleep &
Respiratory Care and Personal Health indicate that a reasonably possible change in key assumptions would
not cause the value in use to fall to the level of the carrying value.
*The definition of this non-IFRS measure and a reconciliation to the IFRS measure is included in Information by segment and
main country
12Intangible assets excluding goodwill
\"Icon_Accounting
Accounting policies
Impairment of intangible assets not yet ready for use
Intangible assets not yet ready for use are not amortized but are tested for impairment annually and whenever
impairment indicators require. In the case of intangible assets not yet ready for use, either internal or external
sources of information are considered to assess if there are indicators that an asset or a CGU may be impaired.
Impairment of non-financial assets other than goodwill, intangible assets not yet ready for use, inventories
and deferred tax assets
Non-financial assets other than goodwill, intangible assets not yet ready for use, inventories and deferred tax
assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying
amount of an asset may not be recoverable. Recoverability of assets to be held and used is assessed by a
comparison of the carrying amount of an asset with the greater of its value in use and fair value less cost of
disposal. Value in use is measured as the present value of future cash flows expected to be generated by the
asset. Fair value less cost of disposal is measured as the amount obtained from a sale of an asset in an arm\u2019s
length transaction, less costs of disposal. If the carrying amount of an asset is deemed not recoverable, an
impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the
recoverable amount. The review for impairment is carried out at the level where cash flows occur that are
independent of other cash flows.
Impairment losses recognized in prior periods for intangible assets other than goodwill are assessed at each
reporting date for any indications that the loss has decreased or no longer exists. An impairment loss is
reversed if and to the extent that there has been a change in the estimates used to determine the recoverable
amount. The loss is reversed only to the extent that the asset\u2019s carrying amount does not exceed the carrying
amount that would have been determined, net of depreciation or amortization, if no impairment loss had
been recognized. Reversals of impairment are recognized in the Consolidated statements of income.
\"Icon_Accounting
Accounting estimates and judgments
The cash flow projections used in the value in use calculations for intangible assets excluding goodwill contain
various judgments and estimations. For intangible assets excluding goodwill, estimates are required to
determine the (remaining) useful lives.
Philips did not make any acquisitions in 2025 (2024: no acquisitions).
Impairments in 2025 amounted to EUR 58 million (2024: EUR 188 million) and mainly relate to divested
businesses.
The company uses scenarios in the business forecasting process, and the most reasonable and supportable
assumptions that represent management\u2019s best estimate are used as the basis for the value-in-use calculations.
The amortization and impairment of intangible assets is further specified in Income from operations.
The most notable intangible assets as of December\u00a031, 2025, relate to the BioTelemetry customer relationships
and technology with a carrying value of EUR 253 million and EUR 76 million and a remaining amortization
period of 11 years and 7 years, respectively, and Spectranetics customer relationships and technology with a
carrying value of EUR 210 million and EUR 126 million and a remaining amortization period of 12 years and 7
years, respectively. The most notable intangible assets as of December\u00a031, 2024, relate to the BioTelemetry
customer relationships and technology with value of EUR 316 million and EUR 108 million and a remaining
amortization period of 12 years and 8 years, respectively, and Spectranetics customer relationships and
technology with a carrying value of EUR 256 million and EUR 164 million and a remaining amortization period
of 13 years and 8 years, respectively.
Ph ilips Group
Intangible assets excluding goodwill in millions of EUR
Brand names
Customer
relationships
Technology
Product
development
Product
development in
progress
Software
Other
Total
Balance as of January 1, 2024
Cost
629
2,593
2,908
2,432
635
929
139
10,265
Amortization / impairments
(511)
(1,718)
(1,895)
(2,096)
(91)
(662)
(101)
(7,075)
Book value
118
875
1,013
336
544
267
38
3,190
Additions
-
-
36
-
240
85
-
361
Assets available for use
-
-
-
266
(266)
-
-
-
Amortization
(19)
(92)
(138)
(162)
-
(95)
(1)
(506)
Impairments
(7)
-
(135)
(13)
(24)
(7)
(1)
(188)
Divestments and transfers to assets classified as held for sale
-
(11)
-
-
-
-
1
(10)
Translation differences and other
6
51
79
(9)
29
15
(37)
134
Total change
(20)
(52)
(158)
82
(21)
(3)
(38)
(209)
Balance as of December 31, 2024
Cost
671
2,722
2,900
2,659
624
984
-
10,559
Amortization / impairments
(573)
(1,899)
(2,044)
(2,241)
(101)
(719)
-
(7,578)
Book value
98
823
855
418
523
265
-
2,982
Additions
-
-
37
-
261
93
-
393
Assets available for use
-
-
-
321
(321)
-
-
-
Amortization
(17)
(77)
(118)
(162)
-
(90)
-
(464)
Impairments
-
-
(27)
-
(16)
(14)
-
(58)
Divestments and transfers to assets classified as held for sale
-
(1)
-
(58)
(5)
-
-
(63)
Translation differences and other
(8)
(86)
(64)
(19)
(40)
(4)
-
(220)
Total change
(25)
(164)
(171)
83
(120)
(14)
-
(413)
Balance as of December 31, 2025
Cost
530
2,423
2,590
2,705
510
995
-
9,752
Amortization / impairments
(457)
(1,764)
(1,906)
(2,204)
(108)
(745)
-
(7,183)
Book Value
73
659
684
500
403
250
-
2,569
", "dimensions": { "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-705": { "value": "
6Income from operations
Employee benefits expense
Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as the
related service is provided. The company recognizes a liability and an expense for bonuses and incentives
based on a formula that takes into consideration the profit attributable to the company\u2019s shareholders after
certain adjustments.
Shipping and handling
Expenses incurred for shipping and handling are mainly recorded as cost of sales. When shipping and
handling are part of a project and billed to the customer, then the related expenses are recorded as cost of
sales. Shipping and handling related to sales to third parties are partly recorded as selling expenses. When
shipping and handling billed to customers are considered a distinct and separate performance obligation, the
fees are recognized as revenue and costs included in cost of sales.
Other business income (expenses)
Other business income (expenses) includes gains and losses on the sale of property, plant and equipment,
gains and losses on the sale of businesses, and other gains and losses not related to the company\u2019s operating
activities.
A breakdown by nature of the income (loss) from operations is:
Philips Group
Sales and costs by nature in millions of EUR
2025
2024
2023
Sales
17,834
18,021
18,169
Costs of materials used
(4,120)
(4,213)
(4,626)
Employee benefit expenses
(6,681)
(6,641)
(6,903)
Depreciation and amortization \u00b9
(1,125)
(1,390)
(1,261)
Shipping and handling
(585)
(623)
(668)
Advertising and promotion
(794)
(791)
(700)
Lease expenses
(43)
(54)
(51)
Other operational costs
(3,097)
(3,351)
(3,535)
Other business income (expenses)
36
(429)
(540)
Income from operations
1,424
529
(115)
1Includes impairments. For impairment values please refer to Property, plant and equipment and Intangible assets excluding
goodwill.
Costs of materials used
Cost of materials used represents the inventory recognized in cost of sales.
Employee benefit expenses
Philips Group
Employee benefit expenses in millions of EUR
2025
2024
2023
Salaries and wages excluding share-based compensation
5,369
5,356
5,635
Share-based compensation
148
104
97
Post-employment benefit costs
371
388
402
Other social security and similar charges:
Required by law
582
580
567
Voluntary
211
211
202
Employee benefit expenses
6,681
6,641
6,903
The employee benefit expenses relate to employees who are working on the payroll of Philips, both with
permanent and temporary contracts.
For further information on post-employment benefit costs, refer to Post-employment benefits.
For details on the remuneration of the members of the Board of Management and the Supervisory Board,
refer to Information on remuneration.
Employees
The number (full-time equivalents, or FTEs) of employees by category at year-end is summarized as:
Philips Group
Employees by category in FTEs as of December 31
2025
2024
2023
Production
28,167
27,478
28,640
Research & development
10,248
10,843
12,035
Other
26,402
27,795
26,818
Philips Employees
64,817
66,116
67,493
Third-party workers
1,585
1,708
2,163
Total
66,401
67,823
69,656
Philips employees consist of those persons working on the payroll of Philips and whose costs are reflected in
employee benefit expenses. Other consists of employees in commercial, general and administrative functions.
Third-party workers consist of personnel hired on a per-period basis, via external companies.
Philips Group
Employees by geographical location in average FTEs
2025
2024
2023
Netherlands
8,342
8,844
9,794
Other countries
58,691
60,113
62,471
Total
67,033
68,956
72,264
Depreciation and amortization
Depreciation of property, plant and equipment and amortization of intangible assets, including impairments,
are:
Philips Group
Depreciation and amortization 1 in millions of EUR
2025
2024
2023
Depreciation of property, plant and equipment
602
696
689
Amortization of software
104
102
98
Amortization of acquired intangible assets
240
392
290
Amortization of development costs
178
199
184
Depreciation and amortization
1,125
1,390
1,261
1Includes impairments. For impairment values please refer to Property, plant and equipment and Intangible assets excluding
goodwill.
Depreciation of property, plant and equipment is mainly included in cost of sales. Amortization of software is
mainly included in general and administration expenses. Amortization of other intangible assets is included in
selling expenses for brand names and customer relationships and is included in cost of sales for technology-
based and other intangible assets. Amortization of development costs is included in research and
development expenses.
Shipping and handling
Shipping and handling costs are included in cost of sales and selling expenses in the Consolidated statements
of income.
Advertising and promotion
Advertising and promotion costs are included in selling expenses in the Consolidated statements of income.
Lease expense
Lease expense relates to short-term and low-value leases.
Other operational costs
Other operational costs contain items which are dissimilar in nature and individually insignificant in amount
to disclose separately. These costs contain, among others, expenses for outsourcing services, mainly in IT and
Human Resources, third-party workers, consultants, warranties, patents, costs for travelling and external legal
services. Government grants of EUR 86 million were recognized as a cost reduction in 2025 (2024: EUR 91
million; 2023: EUR 95 million). The grants mainly relate to research and development activities and business
development.
Audit and audit-related fees
The accompanying table shows the fees attributable to the fiscal years 2025, 2024 and 2023 for services
rendered by the external auditors.
Philips Group
Audit and audit-related fees in millions of EUR
2025
2024
PwC NL \u00b9
PwC
Network
Total
EY NL \u00b2
EY
Network
Total
Audit fees
6.5
6.2
12.7
9.5
5.5
15.0
consolidated financial statements
6.5
2.9
9.4
9.5
3.0
12.5
statutory financial statements
-
3.3
3.3
-
2.5
2.5
Audit-related fees \u00b3
1.3
-
1.3
1.9
0.3
2.2
sustainability assurance
1.3
-
1.3
1.6
-
1.6
other
0.1
-
0.1
0.3
0.3
0.6
Tax fees
-
-
-
-
-
-
All other fees
-
-
-
-
-
-
Fees
7.8
6.2
14.0
11.4
5.8
17.2
1PricewaterhouseCoopers Accountants N.V.
2EY Accountants B.V.
3Also known as Assurance fees
Other business income (expenses)
Other business income (expenses) consists of:
Philips Group
Other business income (expenses) in millions of EUR
2025
2024
2023
Result on disposal of businesses:
income
2
27
50
expenses
(27)
(14)
-
Result on disposal of fixed assets:
income
3
3
12
expenses
(2)
-
(1)
Result on other remaining businesses:
income
82
560
49
expenses
(21)
(1,005)
(643)
Impairment of goodwill
-
-
(8)
Other business income (expenses)
36
(429)
(540)
Total other business income
87
590
112
Total other business expenses
(51)
(1,019)
(652)
The result on disposal of businesses mainly relates to income (expense) in the respective periods for
divestments of non-strategic businesses. For more information refer to Acquisitions and divestments.
The result on disposal of fixed assets mainly relates to the sale of real estate assets.
The result on other remaining businesses mainly relates to the revaluation of contingent consideration and
various legal matters. In 2024, Respironics recorded a EUR 984 million provision in connection with the
settlement of the Respironics personal injury and the medical monitoring claims in the US. Philips recorded
insurance income of EUR 538 million in connection with the agreement with insurers to partially reimburse
the Respironics recall-related product liability claims. For more information on contingent consideration, refer
to Provisions.
Impairment of goodwill
There were no goodwill impairment charges in 2025 and in 2024. For further information refer to Goodwill.
", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-704": { "value": "
6Income from operations
Depreciation and amortization
Depreciation of property, plant and equipment and amortization of intangible assets, including impairments,
are:
Philips Group
Depreciation and amortization 1 in millions of EUR
2025
2024
2023
Depreciation of property, plant and equipment
602
696
689
Amortization of software
104
102
98
Amortization of acquired intangible assets
240
392
290
Amortization of development costs
178
199
184
Depreciation and amortization
1,125
1,390
1,261
1Includes impairments. For impairment values please refer to Property, plant and equipment and Intangible assets excluding
goodwill.
Depreciation of property, plant and equipment is mainly included in cost of sales. Amortization of software is
mainly included in general and administration expenses. Amortization of other intangible assets is included in
selling expenses for brand names and customer relationships and is included in cost of sales for technology-
based and other intangible assets. Amortization of development costs is included in research and
development expenses.
Philips Group
Property, plant and equipment\u00a0in millions of EUR
Owned assets
Right-of-use assets
Property, plant and equipment
Land and
buildings
Machinery and
installations
Other equipment
Assets under
construction
Total
Land and
buildings
Other equipment
Total
Total
Balance as of January 1, 2024
Cost
1,114
1,731
1,404
274
4,521
1,425
216
1,641
6,162
Accumulated depreciation
(638)
(1,278)
(1,041)
-
(2,957)
(619)
(104)
(722)
(3,679)
Book value
476
453
363
274
1,565
806
113
919
2,483
Additions
2
134
76
236
448
101
87
189
637
Assets available for use
12
70
140
(248)
(26)
26
-
26
-
Depreciation
(49)
(191)
(166)
-
(406)
(146)
(56)
(202)
(608)
Impairments
(14)
(23)
(28)
-
(65)
(23)
-
(23)
(89)
Reclassifications
7
(6)
8
(1)
8
(9)
(3)
(12)
(4)
Translation differences and other
20
2
9
10
41
(6)
(4)
(10)
31
Total change
(22)
(13)
38
(3)
1
(57)
24
(33)
(32)
Balance as of December 31, 2024
Cost
1,151
1,790
1,527
271
4,738
1,462
241
1,702
6,441
Accumulated depreciation
(697)
(1,350)
(1,126)
-
(3,173)
(712)
(104)
(816)
(3,989)
Book value
454
440
401
271
1,565
749
137
886
2,452
Additions
1
148
41
271
461
25
78
103
564
Assets available for use
42
69
127
(239)
(1)
1
-
1
-
Depreciation
(44)
(174)
(155)
-
(373)
(132)
(58)
(190)
(563)
Impairments
(1)
(17)
(14)
-
(33)
(7)
-
(7)
(39)
Divestments and transfers to assets classified as held for sale
(1)
-
(2)
(2)
(5)
(1)
-
(1)
(6)
Reclassifications
5
(5)
(15)
(3)
(18)
-
-
-
(18)
Translation differences and other
(28)
(52)
(28)
(23)
(132)
(28)
(13)
(41)
(173)
Total change
(26)
(31)
(46)
3
(100)
(142)
8
(134)
(235)
Balance as of December 31, 2025
Cost
1,105
1,550
1,411
274
4,340
1,328
255
1,583
5,923
Accumulated depreciation
(677)
(1,142)
(1,055)
-
(2,875)
(721)
(110)
(831)
(3,706)
Book value
428
408
355
274
1,465
607
145
752
2,217
Ph ilips Group
Intangible assets excluding goodwill in millions of EUR
Brand names
Customer
relationships
Technology
Product
development
Product
development in
progress
Software
Other
Total
Balance as of January 1, 2024
Cost
629
2,593
2,908
2,432
635
929
139
10,265
Amortization / impairments
(511)
(1,718)
(1,895)
(2,096)
(91)
(662)
(101)
(7,075)
Book value
118
875
1,013
336
544
267
38
3,190
Additions
-
-
36
-
240
85
-
361
Assets available for use
-
-
-
266
(266)
-
-
-
Amortization
(19)
(92)
(138)
(162)
-
(95)
(1)
(506)
Impairments
(7)
-
(135)
(13)
(24)
(7)
(1)
(188)
Divestments and transfers to assets classified as held for sale
-
(11)
-
-
-
-
1
(10)
Translation differences and other
6
51
79
(9)
29
15
(37)
134
Total change
(20)
(52)
(158)
82
(21)
(3)
(38)
(209)
Balance as of December 31, 2024
Cost
671
2,722
2,900
2,659
624
984
-
10,559
Amortization / impairments
(573)
(1,899)
(2,044)
(2,241)
(101)
(719)
-
(7,578)
Book value
98
823
855
418
523
265
-
2,982
Additions
-
-
37
-
261
93
-
393
Assets available for use
-
-
-
321
(321)
-
-
-
Amortization
(17)
(77)
(118)
(162)
-
(90)
-
(464)
Impairments
-
-
(27)
-
(16)
(14)
-
(58)
Divestments and transfers to assets classified as held for sale
-
(1)
-
(58)
(5)
-
-
(63)
Translation differences and other
(8)
(86)
(64)
(19)
(40)
(4)
-
(220)
Total change
(25)
(164)
(171)
83
(120)
(14)
-
(413)
Balance as of December 31, 2025
Cost
530
2,423
2,590
2,705
510
995
-
9,752
Amortization / impairments
(457)
(1,764)
(1,906)
(2,204)
(108)
(745)
-
(7,183)
Book Value
73
659
684
500
403
250
-
2,569
", "dimensions": { "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-703": { "value": "
6Income from operations
Employee benefits expense
Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as the
related service is provided. The company recognizes a liability and an expense for bonuses and incentives
based on a formula that takes into consideration the profit attributable to the company\u2019s shareholders after
certain adjustments.
20Post-employment benefits
\"Icon_Accounting
Accounting policies
Defined contribution plans
A defined contribution plan is a post-employment benefit plan for which the company pays fixed
contributions into a separate entity and will have no legal or constructive obligation to pay further amounts.
Obligations for contributions to defined contribution pension plans are recognized as an employee benefit
expense in the Consolidated statements of income in the periods during which services are rendered by
employees.
Defined benefit plans
A defined benefit plan is a post-employment benefit plan that is not a defined contribution plan. Defined
benefit plans define an amount of pension benefit that an employee will receive after retirement. That
pension benefit typically depends on several factors such as years of service, age and salary.
The net pension asset or liability recognized in the Consolidated balance sheets in respect of defined benefit
plans is the fair value of plan assets less the present value of the projected defined benefit obligation at the
balance sheet date. The defined benefit obligation is calculated annually by qualified actuaries using the
projected unit credit method. Recognized assets are limited to the present value of any reductions in future
contributions or any future refunds. The net pension liability is presented as a long-term provision; no
distinction is made for the short-term portion.
For the company\u2019s major plans, a full discount rate curve of high-quality corporate bonds is used to determine
the defined benefit obligation, where available. The curves are based on the Mercer Yield Curve
methodology, which uses data of corporate bonds rated AA or equivalent. For the other plans, a single point
on the Mercer Yield Curve is used corresponding to the average maturity of the defined benefit obligation. In
countries without a deep corporate bond market, the discount rate is based on government bonds.
Pension costs with respect to defined benefit plans primarily represent the increase of the actuarial present
value of the obligation for post-employment benefits based on employee service during the year and the
interest on the net recognized asset or liability with respect to employee service in previous years.
Remeasurements of the net defined benefit asset or liability comprise actuarial gains and losses, the return on
plan assets (excluding interest) and the effect of the asset ceiling (excluding interest). The company recognizes
all remeasurements in Other comprehensive income.
Past service costs arising from the introduction of a change to the benefit payable under a plan or a
significant reduction of the number of employees covered by a plan (curtailment) are recognized in full in the
Consolidated statements of income.
The company\u2019s net obligation with respect to other long-term employee benefits is the amount of future
benefit that employees have earned in return for their service in the current and prior periods, such as jubilee
entitlements. That benefit is discounted to determine its present value. Remeasurements are recognized in
the Consolidated statements of income in the period in which they arise.
Further information on other long-term employee benefits can be found in Provisions in the Other provisions
section.
26Share-based compensation
\"Icon_Accounting
Accounting policies
Philips\u2019 share-based compensation is an equity-settled plan made of restricted and performance shares. The
restricted shares are subject to a three-year service condition and the performance shares include both market
and non-market-based performance conditions, in addition to a three-year service condition. These shares are
awarded to the Executive Committee and senior management.
The grant date fair value of market-based performance shares is determined through a Monte Carlo valuation
model. The grant date fair value of non-market-based performance shares and restricted shares is determined
as the share price at the grant date as participants receive notional dividends throughout the vesting period.
The costs of share-based compensation plans are revised for expected performance (non-market-based
performance shares) and forfeiture and are spread evenly over the service period.
Share-based compensation is recognized over the service period as personnel expense in the consolidated
statement of income, with a corresponding increase to equity.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-721": { "value": "
7Financial income and expenses
\"Icon_Accounting
Accounting policies
Financial income and expenses are recognized on the accrual basis in the Consolidated statements of income.
Interest income and expense are measured using the effective interest method. Dividend income is recognized
in the consolidated statements of income on the date that the company\u2019s right to receive payment is
established, which in the case of quoted securities is normally the ex-dividend date.
Philips Group
Financial income and expenses in millions of EUR
2025
2024
2023
Interest income
83
79
46
Interest income from loans and receivables
15
12
13
Interest income from cash and cash equivalents
68
67
33
Dividend income from financial assets
3
3
2
Net gains from disposal of financial assets
1
2
-
Net change in fair value of derivatives
12
-
-
Other financial income
14
21
15
Financial income
113
105
63
2025
2024
2023
Interest expense
(288)
(288)
(277)
Interest expense on debt and borrowings
(233)
(231)
(229)
Finance charges under lease contract
(38)
(37)
(27)
Interest expense on pensions
(17)
(20)
(21)
Provision-related accretion expenses
(6)
(49)
(29)
Net foreign exchange gains (losses)
(6)
(7)
(23)
Net change in fair value of financial assets through profit or loss
(27)
(18)
(26)
Net change in fair value of derivatives
-
(5)
-
Other financial expenses
(19)
(20)
(21)
Financial expenses
(346)
(387)
(376)
Financial income and expenses, net
(233)
(282)
(314)
In 2025 , financial income and expenses net decreased by EUR 49 million year-on-year, mainly due to lower
provision-related accretion costs in 2025 compared to 2024. Net interest expense in 2025 was EUR 4 million
lower than in 2024, driven by a slight increase in interest income, as well as lower interest expense on
pensions. This was partially offset by an increase in interest expense on debt and borrowings as a result of
debt refinancing in 2025.
In 2024, financial income and expenses net decreased by EUR 32 million year-on-year, mainly due to higher
interest income on cash and cash equivalents and net foreign exchange losses in 2023, partly offset by higher
interest expenses and provision-related accretion costs. Net interest expense in 2024 was EUR 22 million lower
than in 2023, mainly due to an increased cash position, which was invested in short-term interest-bearing
assets, partly offset by higher interest expenses. Interest expenses increased as a result of debt refinancing in
2024 and higher finance charges on lease contracts.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-720": { "value": "
7Financial income and expenses
\"Icon_Accounting
Accounting policies
Financial income and expenses are recognized on the accrual basis in the Consolidated statements of income.
Interest income and expense are measured using the effective interest method. Dividend income is recognized
in the consolidated statements of income on the date that the company\u2019s right to receive payment is
established, which in the case of quoted securities is normally the ex-dividend date.
Philips Group
Financial income and expenses in millions of EUR
2025
2024
2023
Interest income
83
79
46
Interest income from loans and receivables
15
12
13
Interest income from cash and cash equivalents
68
67
33
Dividend income from financial assets
3
3
2
Net gains from disposal of financial assets
1
2
-
Net change in fair value of derivatives
12
-
-
Other financial income
14
21
15
Financial income
113
105
63
2025
2024
2023
Interest expense
(288)
(288)
(277)
Interest expense on debt and borrowings
(233)
(231)
(229)
Finance charges under lease contract
(38)
(37)
(27)
Interest expense on pensions
(17)
(20)
(21)
Provision-related accretion expenses
(6)
(49)
(29)
Net foreign exchange gains (losses)
(6)
(7)
(23)
Net change in fair value of financial assets through profit or loss
(27)
(18)
(26)
Net change in fair value of derivatives
-
(5)
-
Other financial expenses
(19)
(20)
(21)
Financial expenses
(346)
(387)
(376)
Financial income and expenses, net
(233)
(282)
(314)
In 2025 , financial income and expenses net decreased by EUR 49 million year-on-year, mainly due to lower
provision-related accretion costs in 2025 compared to 2024. Net interest expense in 2025 was EUR 4 million
lower than in 2024, driven by a slight increase in interest income, as well as lower interest expense on
pensions. This was partially offset by an increase in interest expense on debt and borrowings as a result of
debt refinancing in 2025.
In 2024, financial income and expenses net decreased by EUR 32 million year-on-year, mainly due to higher
interest income on cash and cash equivalents and net foreign exchange losses in 2023, partly offset by higher
interest expenses and provision-related accretion costs. Net interest expense in 2024 was EUR 22 million lower
than in 2023, mainly due to an increased cash position, which was invested in short-term interest-bearing
assets, partly offset by higher interest expenses. Interest expenses increased as a result of debt refinancing in
2024 and higher finance charges on lease contracts.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-719": { "value": "
7Financial income and expenses
\"Icon_Accounting
Accounting policies
Financial income and expenses are recognized on the accrual basis in the Consolidated statements of income.
Interest income and expense are measured using the effective interest method. Dividend income is recognized
in the consolidated statements of income on the date that the company\u2019s right to receive payment is
established, which in the case of quoted securities is normally the ex-dividend date.
Philips Group
Financial income and expenses in millions of EUR
2025
2024
2023
Interest income
83
79
46
Interest income from loans and receivables
15
12
13
Interest income from cash and cash equivalents
68
67
33
Dividend income from financial assets
3
3
2
Net gains from disposal of financial assets
1
2
-
Net change in fair value of derivatives
12
-
-
Other financial income
14
21
15
Financial income
113
105
63
2025
2024
2023
Interest expense
(288)
(288)
(277)
Interest expense on debt and borrowings
(233)
(231)
(229)
Finance charges under lease contract
(38)
(37)
(27)
Interest expense on pensions
(17)
(20)
(21)
Provision-related accretion expenses
(6)
(49)
(29)
Net foreign exchange gains (losses)
(6)
(7)
(23)
Net change in fair value of financial assets through profit or loss
(27)
(18)
(26)
Net change in fair value of derivatives
-
(5)
-
Other financial expenses
(19)
(20)
(21)
Financial expenses
(346)
(387)
(376)
Financial income and expenses, net
(233)
(282)
(314)
In 2025 , financial income and expenses net decreased by EUR 49 million year-on-year, mainly due to lower
provision-related accretion costs in 2025 compared to 2024. Net interest expense in 2025 was EUR 4 million
lower than in 2024, driven by a slight increase in interest income, as well as lower interest expense on
pensions. This was partially offset by an increase in interest expense on debt and borrowings as a result of
debt refinancing in 2025.
In 2024, financial income and expenses net decreased by EUR 32 million year-on-year, mainly due to higher
interest income on cash and cash equivalents and net foreign exchange losses in 2023, partly offset by higher
interest expenses and provision-related accretion costs. Net interest expense in 2024 was EUR 22 million lower
than in 2023, mainly due to an increased cash position, which was invested in short-term interest-bearing
assets, partly offset by higher interest expenses. Interest expenses increased as a result of debt refinancing in
2024 and higher finance charges on lease contracts.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-718": { "value": "
7Financial income and expenses
\"Icon_Accounting
Accounting policies
Financial income and expenses are recognized on the accrual basis in the Consolidated statements of income.
Interest income and expense are measured using the effective interest method. Dividend income is recognized
in the consolidated statements of income on the date that the company\u2019s right to receive payment is
established, which in the case of quoted securities is normally the ex-dividend date.
Philips Group
Financial income and expenses in millions of EUR
2025
2024
2023
Interest income
83
79
46
Interest income from loans and receivables
15
12
13
Interest income from cash and cash equivalents
68
67
33
Dividend income from financial assets
3
3
2
Net gains from disposal of financial assets
1
2
-
Net change in fair value of derivatives
12
-
-
Other financial income
14
21
15
Financial income
113
105
63
2025
2024
2023
Interest expense
(288)
(288)
(277)
Interest expense on debt and borrowings
(233)
(231)
(229)
Finance charges under lease contract
(38)
(37)
(27)
Interest expense on pensions
(17)
(20)
(21)
Provision-related accretion expenses
(6)
(49)
(29)
Net foreign exchange gains (losses)
(6)
(7)
(23)
Net change in fair value of financial assets through profit or loss
(27)
(18)
(26)
Net change in fair value of derivatives
-
(5)
-
Other financial expenses
(19)
(20)
(21)
Financial expenses
(346)
(387)
(376)
Financial income and expenses, net
(233)
(282)
(314)
In 2025 , financial income and expenses net decreased by EUR 49 million year-on-year, mainly due to lower
provision-related accretion costs in 2025 compared to 2024. Net interest expense in 2025 was EUR 4 million
lower than in 2024, driven by a slight increase in interest income, as well as lower interest expense on
pensions. This was partially offset by an increase in interest expense on debt and borrowings as a result of
debt refinancing in 2025.
In 2024, financial income and expenses net decreased by EUR 32 million year-on-year, mainly due to higher
interest income on cash and cash equivalents and net foreign exchange losses in 2023, partly offset by higher
interest expenses and provision-related accretion costs. Net interest expense in 2024 was EUR 22 million lower
than in 2023, mainly due to an increased cash position, which was invested in short-term interest-bearing
assets, partly offset by higher interest expenses. Interest expenses increased as a result of debt refinancing in
2024 and higher finance charges on lease contracts.", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-717": { "value": "
7Financial income and expenses
\"Icon_Accounting
Accounting policies
Financial income and expenses are recognized on the accrual basis in the Consolidated statements of income.
Interest income and expense are measured using the effective interest method. Dividend income is recognized
in the consolidated statements of income on the date that the company\u2019s right to receive payment is
established, which in the case of quoted securities is normally the ex-dividend date.
Philips Group
Financial income and expenses in millions of EUR
2025
2024
2023
Interest income
83
79
46
Interest income from loans and receivables
15
12
13
Interest income from cash and cash equivalents
68
67
33
Dividend income from financial assets
3
3
2
Net gains from disposal of financial assets
1
2
-
Net change in fair value of derivatives
12
-
-
Other financial income
14
21
15
Financial income
113
105
63
2025
2024
2023
Interest expense
(288)
(288)
(277)
Interest expense on debt and borrowings
(233)
(231)
(229)
Finance charges under lease contract
(38)
(37)
(27)
Interest expense on pensions
(17)
(20)
(21)
Provision-related accretion expenses
(6)
(49)
(29)
Net foreign exchange gains (losses)
(6)
(7)
(23)
Net change in fair value of financial assets through profit or loss
(27)
(18)
(26)
Net change in fair value of derivatives
-
(5)
-
Other financial expenses
(19)
(20)
(21)
Financial expenses
(346)
(387)
(376)
Financial income and expenses, net
(233)
(282)
(314)
In 2025 , financial income and expenses net decreased by EUR 49 million year-on-year, mainly due to lower
provision-related accretion costs in 2025 compared to 2024. Net interest expense in 2025 was EUR 4 million
lower than in 2024, driven by a slight increase in interest income, as well as lower interest expense on
pensions. This was partially offset by an increase in interest expense on debt and borrowings as a result of
debt refinancing in 2025.
In 2024, financial income and expenses net decreased by EUR 32 million year-on-year, mainly due to higher
interest income on cash and cash equivalents and net foreign exchange losses in 2023, partly offset by higher
interest expenses and provision-related accretion costs. Net interest expense in 2024 was EUR 22 million lower
than in 2023, mainly due to an increased cash position, which was invested in short-term interest-bearing
assets, partly offset by higher interest expenses. Interest expenses increased as a result of debt refinancing in
2024 and higher finance charges on lease contracts.", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-716": { "value": "
7Financial income and expenses
\"Icon_Accounting
Accounting policies
Financial income and expenses are recognized on the accrual basis in the Consolidated statements of income.
Interest income and expense are measured using the effective interest method. Dividend income is recognized
in the consolidated statements of income on the date that the company\u2019s right to receive payment is
established, which in the case of quoted securities is normally the ex-dividend date.
Philips Group
Financial income and expenses in millions of EUR
2025
2024
2023
Interest income
83
79
46
Interest income from loans and receivables
15
12
13
Interest income from cash and cash equivalents
68
67
33
Dividend income from financial assets
3
3
2
Net gains from disposal of financial assets
1
2
-
Net change in fair value of derivatives
12
-
-
Other financial income
14
21
15
Financial income
113
105
63
2025
2024
2023
Interest expense
(288)
(288)
(277)
Interest expense on debt and borrowings
(233)
(231)
(229)
Finance charges under lease contract
(38)
(37)
(27)
Interest expense on pensions
(17)
(20)
(21)
Provision-related accretion expenses
(6)
(49)
(29)
Net foreign exchange gains (losses)
(6)
(7)
(23)
Net change in fair value of financial assets through profit or loss
(27)
(18)
(26)
Net change in fair value of derivatives
-
(5)
-
Other financial expenses
(19)
(20)
(21)
Financial expenses
(346)
(387)
(376)
Financial income and expenses, net
(233)
(282)
(314)
In 2025 , financial income and expenses net decreased by EUR 49 million year-on-year, mainly due to lower
provision-related accretion costs in 2025 compared to 2024. Net interest expense in 2025 was EUR 4 million
lower than in 2024, driven by a slight increase in interest income, as well as lower interest expense on
pensions. This was partially offset by an increase in interest expense on debt and borrowings as a result of
debt refinancing in 2025.
In 2024, financial income and expenses net decreased by EUR 32 million year-on-year, mainly due to higher
interest income on cash and cash equivalents and net foreign exchange losses in 2023, partly offset by higher
interest expenses and provision-related accretion costs. Net interest expense in 2024 was EUR 22 million lower
than in 2023, mainly due to an increased cash position, which was invested in short-term interest-bearing
assets, partly offset by higher interest expenses. Interest expenses increased as a result of debt refinancing in
2024 and higher finance charges on lease contracts.", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-715": { "value": "
7Financial income and expenses
\"Icon_Accounting
Accounting policies
Financial income and expenses are recognized on the accrual basis in the Consolidated statements of income.
Interest income and expense are measured using the effective interest method. Dividend income is recognized
in the consolidated statements of income on the date that the company\u2019s right to receive payment is
established, which in the case of quoted securities is normally the ex-dividend date.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-714": { "value": "
7Financial income and expenses
\"Icon_Accounting
Accounting policies
Financial income and expenses are recognized on the accrual basis in the Consolidated statements of income.
Interest income and expense are measured using the effective interest method. Dividend income is recognized
in the consolidated statements of income on the date that the company\u2019s right to receive payment is
established, which in the case of quoted securities is normally the ex-dividend date.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-713": { "value": "
7Financial income and expenses
\"Icon_Accounting
Accounting policies
Financial income and expenses are recognized on the accrual basis in the Consolidated statements of income.
Interest income and expense are measured using the effective interest method. Dividend income is recognized
in the consolidated statements of income on the date that the company\u2019s right to receive payment is
established, which in the case of quoted securities is normally the ex-dividend date.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceCostsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-724": { "value": "
8Income taxes
\"Icon_Accounting
Accounting policies
Income taxes comprise current, non-current and deferred tax. Income tax is recognized in the Consolidated
statements of income except to the extent that it relates to items recognized directly within equity or in other
comprehensive income. Current tax is the expected taxes payable on the taxable income for the year, using
tax rates enacted or substantively enacted by the reporting date, and any adjustment to tax payable in respect
of previous years.
In cases where it is concluded it is not probable that tax authorities will accept a tax treatment, the effect of
the uncertainty is reflected in the recognition and measurement of tax assets and liabilities or, alternatively, a
provision is made for the amount that is expected to be settled, where this can be reasonably estimated. This
assessment relies on estimates and assumptions and may involve a series of judgments about future events.
New information may become available that causes the company to change its judgment regarding the
adequacy of existing tax assets and liabilities. Such changes to tax assets and liabilities will impact the income
tax expense in the period during which such a determination is made.
Deferred tax assets and liabilities are recognized, using the consolidated balance sheet method, for the
expected tax consequences of temporary differences between the carrying amounts of assets and liabilities
and the amounts used for taxation purposes. Deferred tax liabilities are not recognized for the following
temporary differences: (a) the initial recognition of goodwill; or (b) the initial recognition of an asset or
liability in a transaction which: (i) is not a business combination, (ii) at the time of transaction, affects neither
accounting profit nor taxable profit (tax loss), (iii) at the time of the transaction, does not give rise to equal
amounts of taxable and deductible differences; or (c) differences relating to investments in subsidiaries, joint
ventures and associates where the reversal of the respective temporary difference can be controlled by the
company and it is probable that it will not reverse in the foreseeable future. Deferred taxes are measured at
the tax rates that are expected to be applied to temporary differences when they reverse, based on the laws
that have been enacted or substantively enacted by the end of the reporting date. Deferred tax assets and
liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they
relate to income taxes levied by the same tax authority on the same taxable entity or on different taxable
entities, but the company intends to settle current tax liabilities and assets on a net basis or their tax assets
and liabilities will be realized simultaneously.
A deferred tax asset is recognized for unused tax losses, tax credits and deductible temporary differences to
the extent that it is probable that there will be future taxable profits against which they can be utilized. The
ultimate realization of deferred tax assets is dependent upon the generation of future taxable income in the
countries where the deferred tax assets originated and during the periods when the deferred tax assets
become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future
taxable income, and tax planning strategies in making this assessment.
Deferred tax liabilities are recognized for taxable temporary differences arising from investments in
subsidiaries when those differences are expected to reverse in the foreseeable future, whether due to
withholding taxes or other non-exempt tax consequences. Changes in tax rates and tax laws are reflected in
the period when the change was enacted or substantively enacted by the reporting date. In case of a
subsequent adjustment to a tax asset or liability that originated from a past event for which no specific
arrangements were made at the time of divestment, due to a change in the tax base or its measurement, this
adjustment is allocated back to the component that gave rise to the original component (i.e., backward
tracing). Any subsequent change to the recognition of deferred tax assets is allocated to the component in
which the taxable gain is or will be recognized. The above principles are applied to the extent the
\u2018discontinued operations\u2019 are sufficiently separable from continuing operations.
Consistent with the IAS 12 amendment regarding Pillar Two taxation as issued by the IASB and adopted by
the EU, Philips does not recognize deferred taxes arising from tax laws that implement Pillar Two model rules
published by the Organisation for Economic Co-operation and Development.
\"Icon_Accounting
Accounting estimates and judgments
Deferred tax recoverability
Deferred tax assets are recognized to the extent that it is probable that there will be future taxable profits
against which these can be utilized. Significant judgment is involved in determining whether such profits are
probable. Management determines this on the basis of expected taxable profits arising from the reversal of
recognized deferred tax liabilities, on appropriate tax planning opportunities to support business goals and
on the basis of forecasts.
Uncertain tax positions
Uncertain tax positions are recognized as current tax liabilities when it is probable that additional income
taxes will be payable and the amount can be reliably measured. Liability is measured at the amount expected
to be paid to the tax authorities, using either the most likely amount or the expected value, depending on
which method better predicts the resolution of the uncertainty.
The income tax expense of continuing operations amounts to EUR 282 million (2024 : EUR 963 million tax
expense; 2023 : EUR 73 million tax benefit).
The components of income before taxes and income tax expense are:
Philips Group
Income tax expense in millions of EUR
2025
2024
2023
Income before taxes
1,182
123
(526)
Results of associates
(9)
(124)
(98)
Income before taxes excluding results of associates
1,191
247
(429)
Current tax (expense) benefit
(305)
(140)
(201)
Deferred tax (expense) benefit
24
(823)
274
Income tax (expense) benefit of continuing operations
(282)
(963)
73
Income tax expense of continuing operations excludes the tax benefit of the discontinued operations of EUR 4
million (2024 : EUR 143 million benefit; 2023: EUR 9 million benefit).
The components of income tax expense of continuing operations are:
Philips Group
Current income tax expense in millions of EUR
2025
2024
2023
Current year tax (expense) benefit
(304)
(150)
(211)
Prior year tax (expense) benefit
(1)
9
10
Current tax (expense) benefit
(305)
(140)
(201)
Philips Group
Deferred income tax expense in millions of EUR
2025
2024
2023
Recognition of previously unrecognized tax loss and credit
carryforwards
33
5
72
Unrecognized tax loss and credit carryforwards
(26)
(351)
(41)
Changes to recognition of temporary differences
19
(602)
(112)
Prior year tax (expense) benefit
(9)
(13)
(2)
Tax rate changes
(12)
2
4
Origination and reversal of temporary differences, tax losses and
tax credits
19
136
353
Deferred tax (expense) benefit
24
(823)
274
The deferred tax expense in 2025 is lower than in 2024, mainly due to one-off de-recognition of deferred tax
assets in the US in 2024.
Philips\u2019 operations are subject to income taxes in various foreign jurisdictions. The statutory income tax rate
varies per country, which results in a difference between the weighted average statutory income tax rate and
the Netherlands\u2019 statutory income tax rate of 25.8% (2024: 25.8%; 2023: 25.8%).
A reconciliation of the weighted average statutory income tax rate to the effective income tax rate of
continuing operations is addressed in the accompanying table.
Philips Group
Effective income tax rate in %
2025
2024
2023
Weighted average statutory income tax rate in %
25.9
26.6
22.0
Recognition of previously unrecognized tax loss and credit
carryforwards
(2.7)
(1.9)
16.8
Unrecognized tax loss and credit carryforwards
2.2
141.8
(9.6)
Changes to recognition of temporary differences
(1.6)
243.6
(26.2)
Non-taxable income and tax incentives
(7.9)
(30.2)
22.8
Non-deductible expenses
2.9
10.0
(10.7)
Withholding and other taxes
1.9
16.0
(5.1)
Tax rate changes
1.0
(0.9)
0.9
Prior year tax
0.8
1.2
1.9
Tax expense (benefit) due to change in uncertain tax treatments
0.9
(20.4)
2.3
Others, net
0.2
3.1
1.9
Effective income tax rate
23.6
389.5
17.0
The effective income tax rate in 2025 is lower than the weighted average statutory income tax rate, primarily
due to recurring tax incentives relating to the innovation box regime in the Netherlands, R&D investments
and export activities, and recognition of previously de-recognized deferred tax assets relating to tax losses and
temporary differences.
The effective income tax rate in 2025 is lower than in 2024, mainly due one-off de-recognition of deferred tax
assets in the US in 2024.
Global minimum tax (Pillar Two)
In December 2021, the OECD model rules introduced a global minimum corporate income tax rate of 15%
applicable to multinational enterprise groups with global revenue over EUR 750 million (Pillar Two). Pillar Two
has been effective in the Netherlands, the EU, and many other jurisdictions since fiscal years beginning on or
after December 31, 2023. As a result, Pillar Two applies to Philips from the financial year 2024 and onwards.
Under this legislation, Philips is generally required to pay top-up taxes on profits from a country that is out of
safe harbor if the country\u2019s Pillar Two jurisdictional effective tax rate is less than 15%.
During 2025, additional OECD administrative guidance and technical amendments to the Dutch MTR Act were
introduced to clarify aspects such as deferred tax treatment, safe harbors and compliance obligations.
Furthermore, the OECD\u2019s January 2026 release of the Pillar Two \u2018side\u2011by\u2011side\u2019 package has introduced changes
in safe harbors and simplifications applicable in future reporting periods. Philips continues to monitor these
developments and prepare for related reporting requirements, including the GloBE Information Return, which
will be due in 2026 for the 2024 fiscal year.
The estimated Pillar Two current tax expense relating to 2025 amounts to EUR 1.3\u00a0million, resulting in an
increase of ETR by 0.1%. (2024: EUR 1\u00a0million; increase in ETR by 0.4%). The estimated Pillar Two current tax
expense relating to the prior year has decreased by EUR 0.6\u00a0million, resulting in a decrease of ETR by 0.05%.
Both amounts have been accounted for within the income taxes of the reporting period. This estimate is
based on the current interpretation of Pillar Two legislation and that actual amounts may differ once
legislation and final calculations have been performed.
With reference to the income tax accounting policy, Philips does not recognize deferred taxes arising from tax
laws that implement Pillar Two model rules published by the Organisation for Economic Co-operation and
Development.
Deferred tax assets and liabilities
Deferred tax assets (DTAs) are recognized for temporary differences, unused tax losses, and unused tax credits
to the extent that realization of the related tax benefits is probable. The ultimate realization of deferred tax
assets is dependent upon the generation of future taxable income in the countries where the deferred tax
assets originated and during the periods when the deferred tax assets become deductible. Management
considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning
strategies in making this assessment.
The net deferred tax assets of EUR 1,681 million (2024: EUR 1,835 million) consist of deferred tax assets of EUR
1,773 million (2024: EUR 1,916 million ) and deferred tax liabilities of EUR 93 million (2024: EUR 81 million). Of
the total deferred tax assets of EUR 1,773 million as of December 31, 2025 (2024: EUR 1,916 million), EUR
1,070 million (2024: EUR 1,188 million) is recognized with respect to entities in various countries where there
have been tax losses in the current or preceding period, primarily the US. Based on Philips' assessment the net
decrease in deferred tax assets is primarily due to currency depreciation of assets recognized in US. In 2025,
there was no additional de-recognition or recognition of de-recognized DTAs in US.
Philips recognizes deferred tax assets only to the extent future tax profits are considered probable. For the
recoverability assessment of US DTAs, the income projections were used as a basis to determine probable tax
profits at country level, using similar methodology as used for goodwill impairment testing at CGU level (for
more information refer to note Goodwill). The company evaluated multiple risk-adjusted scenarios that
support the assumption that it is probable that the results of future operations will generate sufficient taxable
income to support the recognized tax losses as well the deductible temporary differences. The projections
include forward-looking assumptions whereby the most recent available information was used to determine
the expected period of recovery of the deferred tax assets. Relevant developments potentially impacting the
period and probability of recovery are monitored closely.
A change in enacted tax rates or a revision to risk-adjusted long term income projections by jurisdiction could
have an impact on the measurement of deferred tax assets.
In 2025, there has been no change relating to de-recognized deferred tax assets in the US. As of December\u00a031,
2025, the amount of deductible temporary differences for which no deferred tax asset has been recognized in
the balance sheet was EUR 352 million (2024: EUR 788 million). The reduction in the unrecognized balance of
temporary differences mainly reflects a reclassification to unrecognized tax loss balances in the US, which is
mainly driven by shift of carrying deferred tax assets on temporary differences to tax losses, which is recorded
in \u2018Recognized in income statement\u2019.
Net deferred tax assets relating to the years 2025 and 2024, respectively, are presented here.
Philips Group
Deferred tax assets and liabilities in millions of EUR
Balance as
of January
1, 2025
Recognized
in income
statement
Other \u00b9
Balance as
of
December
31, 2025
Assets
Liabilities
Intangible assets
373
(45)
(27)
301
448
(147)
Property, plant and equipment
(64)
9
9
(46)
50
(96)
Inventories
364
(13)
(37)
314
315
(1)
Other assets
151
12
(10)
152
205
(53)
Pensions and other long-term employee
benefits
152
29
(9)
172
180
(7)
Other liabilities
319
(29)
(16)
274
312
(38)
Deferred tax assets on tax loss
carryforwards
541
61
(88)
513
513
-
Set-off deferred tax positions
-
-
-
-
(250)
250
Net deferred tax assets
1,835
24
(178)
1,681
1,773
(93)
1Other includes the movements of assets and liabilities recognized in equity and OCI, which includes foreign currency translation
differences, acquisitions, reclassifications and divestments.
As of December 31, 2025, the temporary differences associated with investments, including potential income
tax consequences on dividends, for which no deferred tax liabilities are recognized, aggregate to EUR 284
million (2024: EUR 340 million).
Philips Group
Deferred tax assets and liabilities in millions of EUR
Balance as
of January
1, 2024
Recognized
in income
statement
Other \u00b9
Balance as
of
December
31, 2024
Assets
Liabilities
Intangible assets
679
(333)
26
373
533
(160)
Property, plant and equipment
(88)
25
(1)
(64)
39
(103)
Inventories
360
(9)
13
364
369
(5)
Other assets
184
(25)
(9)
151
207
(56)
Pensions and other employee benefits
193
(61)
20
152
179
(27)
Other liabilities
496
(198)
20
319
365
(47)
Deferred tax assets on tax loss
carryforwards
730
(222)
33
541
541
-
Set-off deferred tax positions
-
-
-
-
(317)
317
Net deferred tax assets
2,556
(823)
102
1,835
1,916
(81)
1Other includes the movements of assets and liabilities recognized in equity and OCI, which includes foreign currency translation
differences, acquisitions, reclassifications and divestments.
The company has available tax loss and credit carryforwards, which expire as expressed in the accompanying
table.
Philips Group
Expiry years of net operating loss and credit carryforwards in millions of EUR
Total balance as of
December 31, 2025
Unrecognized balance
as of December 31, 2025
Total balance as of
December 31, 2024
Unrecognized balance
as of December 31, 2024
Within 1 year
4
4
21
21
1 to 2 years
5
3
5
4
2 to 3 years
11
5
6
3
3 to 4 years
97
60
15
6
4 to 5 years
122
74
146
64
Later
680
670
807
771
Unlimited
4,711
2,978
3,342
1,695
Total
5,628
3,794
4,342
2,564
The increase in the unrecognized balance on tax losses as of December\u00a031, 2025, mainly relates to the
reclassification from unrecognized balance of temporary differences, as noted above.
Philips Group
Income tax liabilities in millions of EUR
2025
2024
Uncertain Tax Positions \u00b9
(70)
-
Income tax payable
(104)
(71)
Income tax liabilities
(174)
(71)
\u00b9 Uncertain tax positions were shown as non-current tax liabilities in 2024.
The expected liabilities reported as uncertain tax positions are included in current income tax liabilities (2025:
EUR 70 million) and reclassified from other non-current liabilities (2024: EUR 116 million).
The decrease in uncertain tax positions mainly relates to release of positions on expiry of the statute of
limitations for tax audits, in combination with netting of the uncertain tax positions with recognized tax
assets, such as carryforward tax losses or tax receivables.
Tax risks
Philips is exposed to tax risks and uncertainty over tax treatments. For particular tax treatments that are not
expected to be accepted by tax authorities, Philips either recognizes a liability or reflects the uncertainty in the
recognition and measurement of its current and deferred tax assets and tax attributes. For the measurement
of the uncertainty, Philips uses the most likely amount or the expected value of the tax treatment. The
positions include, among others:
Transfer pricing risks
Philips has issued transfer pricing directives, which are in accordance with international guidelines such as
those of the Organisation of Economic Co-operation and Development. In order to reduce the transfer pricing
uncertainties, monitoring procedures are carried out by Group Tax to safeguard the correct implementation
of the transfer pricing directives. However, tax disputes can arise due to non-harmonized transfer pricing
regimes and different views on 'at arm's length' pricing.
Tax risks on general and specific service agreements and licensing agreements
Due to the centralization of certain activities (such as Research & Development, IT and group Functions), costs
are also centralized. As a consequence, these costs and/or revenues must be allocated to the beneficiaries, i.e.,
the various Philips entities. For that purpose, service contracts such as intra-group service agreements and
licensing agreements are signed with a large number of group entities. Tax authorities review these intra-
group service and licensing agreements, and may reject the implemented intra-group charges. Furthermore,
buy-in or -out situations in the case of (de)mergers could affect the cost allocation resulting from the intra-
group service agreements between countries. The same applies to the specific service agreements.
Tax risks due to disentanglements and acquisitions
When a subsidiary of Philips is disentangled, or a new company is acquired, tax risks may arise. Philips creates
merger and acquisition (M&A) teams for these disentanglements or acquisitions. In addition to representatives
from the involved business, these teams consist of specialists from various group Functions and are formed,
among other things, to identify tax risks and to reduce potential tax claims.
Tax risks due to permanent establishments
A permanent establishment may arise when a Philips entity has activities in another country; tax claims could
arise in both countries on the same income.
23Cash flow statement supplementary information
", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-722": { "value": "
8Income taxes
\"Icon_Accounting
Accounting policies
Income taxes comprise current, non-current and deferred tax. Income tax is recognized in the Consolidated
statements of income except to the extent that it relates to items recognized directly within equity or in other
comprehensive income. Current tax is the expected taxes payable on the taxable income for the year, using
tax rates enacted or substantively enacted by the reporting date, and any adjustment to tax payable in respect
of previous years.
In cases where it is concluded it is not probable that tax authorities will accept a tax treatment, the effect of
the uncertainty is reflected in the recognition and measurement of tax assets and liabilities or, alternatively, a
provision is made for the amount that is expected to be settled, where this can be reasonably estimated. This
assessment relies on estimates and assumptions and may involve a series of judgments about future events.
New information may become available that causes the company to change its judgment regarding the
adequacy of existing tax assets and liabilities. Such changes to tax assets and liabilities will impact the income
tax expense in the period during which such a determination is made.
Deferred tax assets and liabilities are recognized, using the consolidated balance sheet method, for the
expected tax consequences of temporary differences between the carrying amounts of assets and liabilities
and the amounts used for taxation purposes. Deferred tax liabilities are not recognized for the following
temporary differences: (a) the initial recognition of goodwill; or (b) the initial recognition of an asset or
liability in a transaction which: (i) is not a business combination, (ii) at the time of transaction, affects neither
accounting profit nor taxable profit (tax loss), (iii) at the time of the transaction, does not give rise to equal
amounts of taxable and deductible differences; or (c) differences relating to investments in subsidiaries, joint
ventures and associates where the reversal of the respective temporary difference can be controlled by the
company and it is probable that it will not reverse in the foreseeable future. Deferred taxes are measured at
the tax rates that are expected to be applied to temporary differences when they reverse, based on the laws
that have been enacted or substantively enacted by the end of the reporting date. Deferred tax assets and
liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they
relate to income taxes levied by the same tax authority on the same taxable entity or on different taxable
entities, but the company intends to settle current tax liabilities and assets on a net basis or their tax assets
and liabilities will be realized simultaneously.
A deferred tax asset is recognized for unused tax losses, tax credits and deductible temporary differences to
the extent that it is probable that there will be future taxable profits against which they can be utilized. The
ultimate realization of deferred tax assets is dependent upon the generation of future taxable income in the
countries where the deferred tax assets originated and during the periods when the deferred tax assets
become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future
taxable income, and tax planning strategies in making this assessment.
Deferred tax liabilities are recognized for taxable temporary differences arising from investments in
subsidiaries when those differences are expected to reverse in the foreseeable future, whether due to
withholding taxes or other non-exempt tax consequences. Changes in tax rates and tax laws are reflected in
the period when the change was enacted or substantively enacted by the reporting date. In case of a
subsequent adjustment to a tax asset or liability that originated from a past event for which no specific
arrangements were made at the time of divestment, due to a change in the tax base or its measurement, this
adjustment is allocated back to the component that gave rise to the original component (i.e., backward
tracing). Any subsequent change to the recognition of deferred tax assets is allocated to the component in
which the taxable gain is or will be recognized. The above principles are applied to the extent the
\u2018discontinued operations\u2019 are sufficiently separable from continuing operations.
Consistent with the IAS 12 amendment regarding Pillar Two taxation as issued by the IASB and adopted by
the EU, Philips does not recognize deferred taxes arising from tax laws that implement Pillar Two model rules
published by the Organisation for Economic Co-operation and Development.
\"Icon_Accounting
Accounting estimates and judgments
Deferred tax recoverability
Deferred tax assets are recognized to the extent that it is probable that there will be future taxable profits
against which these can be utilized. Significant judgment is involved in determining whether such profits are
probable. Management determines this on the basis of expected taxable profits arising from the reversal of
recognized deferred tax liabilities, on appropriate tax planning opportunities to support business goals and
on the basis of forecasts.
Uncertain tax positions
Uncertain tax positions are recognized as current tax liabilities when it is probable that additional income
taxes will be payable and the amount can be reliably measured. Liability is measured at the amount expected
to be paid to the tax authorities, using either the most likely amount or the expected value, depending on
which method better predicts the resolution of the uncertainty.
The components of income before taxes and income tax expense are:
Philips Group
Income tax expense in millions of EUR
2025
2024
2023
Income before taxes
1,182
123
(526)
Results of associates
(9)
(124)
(98)
Income before taxes excluding results of associates
1,191
247
(429)
Current tax (expense) benefit
(305)
(140)
(201)
Deferred tax (expense) benefit
24
(823)
274
Income tax (expense) benefit of continuing operations
(282)
(963)
73
Income tax expense of continuing operations excludes the tax benefit of the discontinued operations of EUR 4
million (2024 : EUR 143 million benefit; 2023: EUR 9 million benefit).
Philips Group
Deferred income tax expense in millions of EUR
2025
2024
2023
Recognition of previously unrecognized tax loss and credit
carryforwards
33
5
72
Unrecognized tax loss and credit carryforwards
(26)
(351)
(41)
Changes to recognition of temporary differences
19
(602)
(112)
Prior year tax (expense) benefit
(9)
(13)
(2)
Tax rate changes
(12)
2
4
Origination and reversal of temporary differences, tax losses and
tax credits
19
136
353
Deferred tax (expense) benefit
24
(823)
274
The deferred tax expense in 2025 is lower than in 2024, mainly due to one-off de-recognition of deferred tax
assets in the US in 2024.
Deferred tax assets and liabilities
Deferred tax assets (DTAs) are recognized for temporary differences, unused tax losses, and unused tax credits
to the extent that realization of the related tax benefits is probable. The ultimate realization of deferred tax
assets is dependent upon the generation of future taxable income in the countries where the deferred tax
assets originated and during the periods when the deferred tax assets become deductible. Management
considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning
strategies in making this assessment.
The net deferred tax assets of EUR 1,681 million (2024: EUR 1,835 million) consist of deferred tax assets of EUR
1,773 million (2024: EUR 1,916 million ) and deferred tax liabilities of EUR 93 million (2024: EUR 81 million). Of
the total deferred tax assets of EUR 1,773 million as of December 31, 2025 (2024: EUR 1,916 million), EUR
1,070 million (2024: EUR 1,188 million) is recognized with respect to entities in various countries where there
have been tax losses in the current or preceding period, primarily the US. Based on Philips' assessment the net
decrease in deferred tax assets is primarily due to currency depreciation of assets recognized in US. In 2025,
there was no additional de-recognition or recognition of de-recognized DTAs in US.
Philips recognizes deferred tax assets only to the extent future tax profits are considered probable. For the
recoverability assessment of US DTAs, the income projections were used as a basis to determine probable tax
profits at country level, using similar methodology as used for goodwill impairment testing at CGU level (for
more information refer to note Goodwill). The company evaluated multiple risk-adjusted scenarios that
support the assumption that it is probable that the results of future operations will generate sufficient taxable
income to support the recognized tax losses as well the deductible temporary differences. The projections
include forward-looking assumptions whereby the most recent available information was used to determine
the expected period of recovery of the deferred tax assets. Relevant developments potentially impacting the
period and probability of recovery are monitored closely.
A change in enacted tax rates or a revision to risk-adjusted long term income projections by jurisdiction could
have an impact on the measurement of deferred tax assets.
In 2025, there has been no change relating to de-recognized deferred tax assets in the US. As of December\u00a031,
2025, the amount of deductible temporary differences for which no deferred tax asset has been recognized in
the balance sheet was EUR 352 million (2024: EUR 788 million). The reduction in the unrecognized balance of
temporary differences mainly reflects a reclassification to unrecognized tax loss balances in the US, which is
mainly driven by shift of carrying deferred tax assets on temporary differences to tax losses, which is recorded
in \u2018Recognized in income statement\u2019.
Net deferred tax assets relating to the years 2025 and 2024, respectively, are presented here.
Philips Group
Deferred tax assets and liabilities in millions of EUR
Balance as
of January
1, 2025
Recognized
in income
statement
Other \u00b9
Balance as
of
December
31, 2025
Assets
Liabilities
Intangible assets
373
(45)
(27)
301
448
(147)
Property, plant and equipment
(64)
9
9
(46)
50
(96)
Inventories
364
(13)
(37)
314
315
(1)
Other assets
151
12
(10)
152
205
(53)
Pensions and other long-term employee
benefits
152
29
(9)
172
180
(7)
Other liabilities
319
(29)
(16)
274
312
(38)
Deferred tax assets on tax loss
carryforwards
541
61
(88)
513
513
-
Set-off deferred tax positions
-
-
-
-
(250)
250
Net deferred tax assets
1,835
24
(178)
1,681
1,773
(93)
1Other includes the movements of assets and liabilities recognized in equity and OCI, which includes foreign currency translation
differences, acquisitions, reclassifications and divestments.
As of December 31, 2025, the temporary differences associated with investments, including potential income
tax consequences on dividends, for which no deferred tax liabilities are recognized, aggregate to EUR 284
million (2024: EUR 340 million).
Philips Group
Deferred tax assets and liabilities in millions of EUR
Balance as
of January
1, 2024
Recognized
in income
statement
Other \u00b9
Balance as
of
December
31, 2024
Assets
Liabilities
Intangible assets
679
(333)
26
373
533
(160)
Property, plant and equipment
(88)
25
(1)
(64)
39
(103)
Inventories
360
(9)
13
364
369
(5)
Other assets
184
(25)
(9)
151
207
(56)
Pensions and other employee benefits
193
(61)
20
152
179
(27)
Other liabilities
496
(198)
20
319
365
(47)
Deferred tax assets on tax loss
carryforwards
730
(222)
33
541
541
-
Set-off deferred tax positions
-
-
-
-
(317)
317
Net deferred tax assets
2,556
(823)
102
1,835
1,916
(81)
1Other includes the movements of assets and liabilities recognized in equity and OCI, which includes foreign currency translation
differences, acquisitions, reclassifications and divestments.
The company has available tax loss and credit carryforwards, which expire as expressed in the accompanying
table.
Philips Group
Expiry years of net operating loss and credit carryforwards in millions of EUR
Total balance as of
December 31, 2025
Unrecognized balance
as of December 31, 2025
Total balance as of
December 31, 2024
Unrecognized balance
as of December 31, 2024
Within 1 year
4
4
21
21
1 to 2 years
5
3
5
4
2 to 3 years
11
5
6
3
3 to 4 years
97
60
15
6
4 to 5 years
122
74
146
64
Later
680
670
807
771
Unlimited
4,711
2,978
3,342
1,695
Total
5,628
3,794
4,342
2,564
The increase in the unrecognized balance on tax losses as of December\u00a031, 2025, mainly relates to the
reclassification from unrecognized balance of temporary differences, as noted above.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-723": { "value": "
8Income taxes
\"Icon_Accounting
In cases where it is concluded it is not probable that tax authorities will accept a tax treatment, the effect of
the uncertainty is reflected in the recognition and measurement of tax assets and liabilities or, alternatively, a
provision is made for the amount that is expected to be settled, where this can be reasonably estimated. This
assessment relies on estimates and assumptions and may involve a series of judgments about future events.
New information may become available that causes the company to change its judgment regarding the
adequacy of existing tax assets and liabilities. Such changes to tax assets and liabilities will impact the income
tax expense in the period during which such a determination is made.
Deferred tax assets and liabilities are recognized, using the consolidated balance sheet method, for the
expected tax consequences of temporary differences between the carrying amounts of assets and liabilities
and the amounts used for taxation purposes. Deferred tax liabilities are not recognized for the following
temporary differences: (a) the initial recognition of goodwill; or (b) the initial recognition of an asset or
liability in a transaction which: (i) is not a business combination, (ii) at the time of transaction, affects neither
accounting profit nor taxable profit (tax loss), (iii) at the time of the transaction, does not give rise to equal
amounts of taxable and deductible differences; or (c) differences relating to investments in subsidiaries, joint
ventures and associates where the reversal of the respective temporary difference can be controlled by the
company and it is probable that it will not reverse in the foreseeable future. Deferred taxes are measured at
the tax rates that are expected to be applied to temporary differences when they reverse, based on the laws
that have been enacted or substantively enacted by the end of the reporting date. Deferred tax assets and
liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they
relate to income taxes levied by the same tax authority on the same taxable entity or on different taxable
entities, but the company intends to settle current tax liabilities and assets on a net basis or their tax assets
and liabilities will be realized simultaneously.
A deferred tax asset is recognized for unused tax losses, tax credits and deductible temporary differences to
the extent that it is probable that there will be future taxable profits against which they can be utilized. The
ultimate realization of deferred tax assets is dependent upon the generation of future taxable income in the
countries where the deferred tax assets originated and during the periods when the deferred tax assets
become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future
taxable income, and tax planning strategies in making this assessment.
Deferred tax liabilities are recognized for taxable temporary differences arising from investments in
subsidiaries when those differences are expected to reverse in the foreseeable future, whether due to
withholding taxes or other non-exempt tax consequences. Changes in tax rates and tax laws are reflected in
the period when the change was enacted or substantively enacted by the reporting date. In case of a
subsequent adjustment to a tax asset or liability that originated from a past event for which no specific
arrangements were made at the time of divestment, due to a change in the tax base or its measurement, this
adjustment is allocated back to the component that gave rise to the original component (i.e., backward
tracing). Any subsequent change to the recognition of deferred tax assets is allocated to the component in
which the taxable gain is or will be recognized. The above principles are applied to the extent the
\u2018discontinued operations\u2019 are sufficiently separable from continuing operations.
Consistent with the IAS 12 amendment regarding Pillar Two taxation as issued by the IASB and adopted by
the EU, Philips does not recognize deferred taxes arising from tax laws that implement Pillar Two model rules
published by the Organisation for Economic Co-operation and Development.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-725": { "value": "
8Income taxes
Accounting policies
Income taxes comprise current, non-current and deferred tax. Income tax is recognized in the Consolidated
statements of income except to the extent that it relates to items recognized directly within equity or in other
comprehensive income. Current tax is the expected taxes payable on the taxable income for the year, using
tax rates enacted or substantively enacted by the reporting date, and any adjustment to tax payable in respect
of previous years.
In cases where it is concluded it is not probable that tax authorities will accept a tax treatment, the effect of
the uncertainty is reflected in the recognition and measurement of tax assets and liabilities or, alternatively, a
provision is made for the amount that is expected to be settled, where this can be reasonably estimated. This
assessment relies on estimates and assumptions and may involve a series of judgments about future events.
New information may become available that causes the company to change its judgment regarding the
adequacy of existing tax assets and liabilities. Such changes to tax assets and liabilities will impact the income
tax expense in the period during which such a determination is made.
Deferred tax assets and liabilities are recognized, using the consolidated balance sheet method, for the
expected tax consequences of temporary differences between the carrying amounts of assets and liabilities
and the amounts used for taxation purposes. Deferred tax liabilities are not recognized for the following
temporary differences: (a) the initial recognition of goodwill; or (b) the initial recognition of an asset or
liability in a transaction which: (i) is not a business combination, (ii) at the time of transaction, affects neither
accounting profit nor taxable profit (tax loss), (iii) at the time of the transaction, does not give rise to equal
amounts of taxable and deductible differences; or (c) differences relating to investments in subsidiaries, joint
ventures and associates where the reversal of the respective temporary difference can be controlled by the
company and it is probable that it will not reverse in the foreseeable future. Deferred taxes are measured at
the tax rates that are expected to be applied to temporary differences when they reverse, based on the laws
that have been enacted or substantively enacted by the end of the reporting date. Deferred tax assets and
liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they
relate to income taxes levied by the same tax authority on the same taxable entity or on different taxable
entities, but the company intends to settle current tax liabilities and assets on a net basis or their tax assets
and liabilities will be realized simultaneously.
A deferred tax asset is recognized for unused tax losses, tax credits and deductible temporary differences to
the extent that it is probable that there will be future taxable profits against which they can be utilized. The
ultimate realization of deferred tax assets is dependent upon the generation of future taxable income in the
countries where the deferred tax assets originated and during the periods when the deferred tax assets
become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future
taxable income, and tax planning strategies in making this assessment.
Deferred tax liabilities are recognized for taxable temporary differences arising from investments in
subsidiaries when those differences are expected to reverse in the foreseeable future, whether due to
withholding taxes or other non-exempt tax consequences. Changes in tax rates and tax laws are reflected in
the period when the change was enacted or substantively enacted by the reporting date. In case of a
subsequent adjustment to a tax asset or liability that originated from a past event for which no specific
arrangements were made at the time of divestment, due to a change in the tax base or its measurement, this
adjustment is allocated back to the component that gave rise to the original component (i.e., backward
tracing). Any subsequent change to the recognition of deferred tax assets is allocated to the component in
which the taxable gain is or will be recognized. The above principles are applied to the extent the
\u2018discontinued operations\u2019 are sufficiently separable from continuing operations.
Consistent with the IAS 12 amendment regarding Pillar Two taxation as issued by the IASB and adopted by
the EU, Philips does not recognize deferred taxes arising from tax laws that implement Pillar Two model rules
published by the Organisation for Economic Co-operation and Development.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-726": { "value": "
Tax risks
Philips is exposed to tax risks and uncertainty over tax treatments. For particular tax treatments that are not
expected to be accepted by tax authorities, Philips either recognizes a liability or reflects the uncertainty in the
recognition and measurement of its current and deferred tax assets and tax attributes. For the measurement
of the uncertainty, Philips uses the most likely amount or the expected value of the tax treatment. The
positions include, among others:
Transfer pricing risks
Philips has issued transfer pricing directives, which are in accordance with international guidelines such as
those of the Organisation of Economic Co-operation and Development. In order to reduce the transfer pricing
uncertainties, monitoring procedures are carried out by Group Tax to safeguard the correct implementation
of the transfer pricing directives. However, tax disputes can arise due to non-harmonized transfer pricing
regimes and different views on 'at arm's length' pricing.
Tax risks on general and specific service agreements and licensing agreements
Due to the centralization of certain activities (such as Research & Development, IT and group Functions), costs
are also centralized. As a consequence, these costs and/or revenues must be allocated to the beneficiaries, i.e.,
the various Philips entities. For that purpose, service contracts such as intra-group service agreements and
licensing agreements are signed with a large number of group entities. Tax authorities review these intra-
group service and licensing agreements, and may reject the implemented intra-group charges. Furthermore,
buy-in or -out situations in the case of (de)mergers could affect the cost allocation resulting from the intra-
group service agreements between countries. The same applies to the specific service agreements.
Tax risks due to disentanglements and acquisitions
When a subsidiary of Philips is disentangled, or a new company is acquired, tax risks may arise. Philips creates
merger and acquisition (M&A) teams for these disentanglements or acquisitions. In addition to representatives
from the involved business, these teams consist of specialists from various group Functions and are formed,
among other things, to identify tax risks and to reduce potential tax claims.
Tax risks due to permanent establishments
A permanent establishment may arise when a Philips entity has activities in another country; tax claims could
arise in both countries on the same income.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTaxesOtherThanIncomeTaxExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-727": { "value": "
9Earnings per share
\"Icon_Accounting
Accounting policies
The company presents basic and diluted earnings per share (EPS) data for its common shares. Basic EPS is
calculated by dividing the Net income (loss) attributable to shareholders by the weighted average number of
common shares outstanding (after deduction of treasury shares) during the period. Diluted EPS is determined
by adjusting the Net income (loss) attributable to shareholders and the weighted average number of common
shares outstanding (after deduction of treasury shares) during the period, for the effects of all dilutive
potential common shares, which comprise performance shares, restricted shares and share options granted
under share-based compensation plans as well as forward contracts to repurchase shares, to the extent that
these contracts are dilutive.
Philips Group
Earnings per share in millions of EUR unless otherwise stated 1
2025
2024
2023
Income from continuing operations
901
(840)
(454)
Income from continuing operations attributable to shareholders
899
(843)
(456)
Income from continuing operations attributable to non-controlling
interests
1
3
2
Income from discontinued operations
(4)
142
(10)
Income from discontinued operations attributable to shareholders
(4)
142
(10)
Net income
897
(698)
(463)
Net income attributable to shareholders
895
(702)
(466)
Net income attributable to non-controlling interests
1
3
2
Weighted average number of common shares outstanding (after
deduction of treasury shares) during the period
948,239,009
933,370,814
948,300,672
2025
2024
2023
Plus incremental shares from assumed conversions of:
Share options
238,577
232,965
-
Performance shares
9,322,536
4,958,144
2,623,097
Restricted shares
4,179,423
3,898,844
2,574,738
Forward contracts to repurchase shares
523,617
1,835,048
15,511,844
Dilutive potential common shares \u00b2
14,264,153
10,925,002
20,709,680
Diluted weighted average number of shares outstanding (after
deduction of treasury shares) during the period
962,503,162
933,370,814
948,300,672
Basic earnings per common share attributable to shareholders (in EUR)
Income from continuing operations
0.95
(0.90)
(0.48)
Income from discontinued operations
-
0.15
(0.01)
Net income
0.94
(0.75)
(0.49)
Diluted earnings per common share attributable to shareholders (in EUR) \u00b2
Income from continuing operations
0.93
(0.90)
(0.48)
Income from discontinued operations
-
0.15
(0.01)
Net income
0.93
(0.75)
(0.49)
Dividend distributed per common share in EUR
0.85
0.85
0.85
1Shareholders refers to shareholders of Koninklijke Philips N.V.
2The dilutive potential common shares are not taken into account in the periods for which there is a loss, as the effect would be
antidilutive.
On May 8, 2025, the General Meeting of Shareholders approved a dividend of EUR 0.85 per common share, in
shares or (subject to certain conditions) in cash. The dividend was settled in June through cash and the
issuance of 22,980,748 new common shares. The impact of the issuance of shares for the share dividend with
respect to 2024 on per-share calculations for prior periods was not material.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-728": { "value": "
9Earnings per share
\"Icon_Accounting
Accounting policies
The company presents basic and diluted earnings per share (EPS) data for its common shares. Basic EPS is
calculated by dividing the Net income (loss) attributable to shareholders by the weighted average number of
common shares outstanding (after deduction of treasury shares) during the period. Diluted EPS is determined
by adjusting the Net income (loss) attributable to shareholders and the weighted average number of common
shares outstanding (after deduction of treasury shares) during the period, for the effects of all dilutive
potential common shares, which comprise performance shares, restricted shares and share options granted
under share-based compensation plans as well as forward contracts to repurchase shares, to the extent that
these contracts are dilutive.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-729": { "value": "0.85", "decimals": 2, "dimensions": { "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "f-738": { "value": "
10Property, plant and equipment
\"Icon_Accounting
Accounting policies
Owned assets
The cost of property, plant and equipment comprise all directly attributable costs (including the cost of
material and direct labor).
Depreciation is generally calculated using the straight-line method over the useful life of the asset. Land and
assets under construction are not depreciated. When assets under construction are ready for their intended
use, they are transferred to the relevant asset category and depreciation starts. All other property, plant and
equipment items are depreciated over their estimated useful lives to their estimated residual values.
The estimated useful lives of property, plant and equipment are:
Philips Group
Useful lives of property, plant and equipment
Buildings
from\u00a05 to 50 years
Machinery and installations
from 3\u00a0to 20 years
Other equipment
from 1 to 10 years
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-737": { "value": "
10Property, plant and equipment
\"Icon_Accounting
Accounting policies
Owned assets
The cost of property, plant and equipment comprise all directly attributable costs (including the cost of
material and direct labor).
Depreciation is generally calculated using the straight-line method over the useful life of the asset. Land and
assets under construction are not depreciated. When assets under construction are ready for their intended
use, they are transferred to the relevant asset category and depreciation starts. All other property, plant and
equipment items are depreciated over their estimated useful lives to their estimated residual values.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForConstructionInProgressExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-731": { "value": "
10Property, plant and equipment
\"Icon_Accounting
Accounting policies
Owned assets
The cost of property, plant and equipment comprise all directly attributable costs (including the cost of
material and direct labor).
Depreciation is generally calculated using the straight-line method over the useful life of the asset. Land and
assets under construction are not depreciated. When assets under construction are ready for their intended
use, they are transferred to the relevant asset category and depreciation starts. All other property, plant and
equipment items are depreciated over their estimated useful lives to their estimated residual values.
The estimated useful lives of property, plant and equipment are:
Philips Group
Useful lives of property, plant and equipment
Buildings
from\u00a05 to 50 years
Machinery and installations
from 3\u00a0to 20 years
Other equipment
from 1 to 10 years
Property, plant and equipment are reviewed for impairment whenever events or changes in circumstances
indicate that the book value of the assets concerned may not be recoverable. An impairment loss is
recognized for the amount by which the asset's book value exceeds their recoverable amount. Impairments
are reversed if and to the extent that the impairment no longer exists. The recoverable amount is defined as
the higher of the asset\u2019s fair value less costs of disposal and its value in use.
Gains and losses on the sale of property, plant and equipment are included in other business income. Costs
related to repair and maintenance activities are expensed in the period in which they are incurred unless they
extend the asset's original lifetime or capacity.
Accounting estimates and judgments
Impairment of owned and right-of-use assets
Judgments are required, not only to determine whether there is an indication that an asset may be impaired,
but also whether indications exist that impairment losses previously recognized may no longer exist or may
have decreased (impairment reversal). After indications of impairment have been identified, estimates and
assumptions are used in the determination of the recoverable amount of a fixed asset. These involve estimates
of expected future cash flows (based on future growth rates and remaining useful life) and residual value
assumptions, as well as discount rates to calculate the present value of the future cash flows.
Owned assets
Property, plant and equipment are fixed assets that are owned or right-of-use assets under a lease agreement.
Owned and right-of-use assets are held for use in Philips' operating activities.
Philips Group
Property, plant and equipment in millions of EUR\u00a0
2025
2024
Owned assets
1,465
1,565
Right-of-use assets
752
886
Total
2,217
2,452
Leasing activities
The company leases equipment to customers under operating lease arrangements. These leases primarily
relate to the Diagnosis & Treatment and Connected Care segments. At December\u00a031, 2025, the net book value
of assets subject to operating leases amounted to EUR 143 million (2024: EUR 135 million), which includes
additions of EUR 135 million recognized during 2025 (2024: EUR 131 million) and depreciation of EUR 96
million recognized during 2025 (2024: EUR 103 million).
The company leases various items of real estate, vehicles and other equipment where it acts as a lessee. The
company has multiple extension and termination options in a number of lease contracts. These are used to
maximize operational flexibility in terms of managing the assets used in the company's operations. The
options considered reasonably certain are part of lease liabilities. The company has no commitments to any
leases not yet commenced in 2025 (2024: EUR 0 million). The company's lease contracts do not contain
financial covenants.
The company enters into sale-and-leaseback transactions primarily for its Sleep & Respiratory Care Business.
These transactions are accounted for at market value. The payments for these leases are considered in
determining lease liabilities. Principal repayments are part of cash flows used for financing activities and
interest payments are part of cash flows used for operating activities. The cash inflows arising from the sales
transactions are part of cash flows provided by financing activities. Lease payments under sale-and-leaseback
arrangements for 2025 were EUR 29 million (2024: EUR 43 million). The remaining minimum payment under
sale-and-leaseback arrangements included in lease obligations above are:
Philips Group
Remaining minimum payments under sale-and-leaseback arrangements in millions of EUR
2026
30
2027
24
2028
17
2029
13
2030
5
Thereafter
-
Further lease disclosures as lessee can be found in Income from operations, Financial income and expenses,
Cash flow statement supplementary information and Debt. For disclosures for lease receivables refer to
Receivables.
Philips Group
Property, plant and equipment\u00a0in millions of EUR
Owned assets
Right-of-use assets
Property, plant and equipment
Land and
buildings
Machinery and
installations
Other equipment
Assets under
construction
Total
Land and
buildings
Other equipment
Total
Total
Balance as of January 1, 2024
Cost
1,114
1,731
1,404
274
4,521
1,425
216
1,641
6,162
Accumulated depreciation
(638)
(1,278)
(1,041)
-
(2,957)
(619)
(104)
(722)
(3,679)
Book value
476
453
363
274
1,565
806
113
919
2,483
Additions
2
134
76
236
448
101
87
189
637
Assets available for use
12
70
140
(248)
(26)
26
-
26
-
Depreciation
(49)
(191)
(166)
-
(406)
(146)
(56)
(202)
(608)
Impairments
(14)
(23)
(28)
-
(65)
(23)
-
(23)
(89)
Reclassifications
7
(6)
8
(1)
8
(9)
(3)
(12)
(4)
Translation differences and other
20
2
9
10
41
(6)
(4)
(10)
31
Total change
(22)
(13)
38
(3)
1
(57)
24
(33)
(32)
Balance as of December 31, 2024
Cost
1,151
1,790
1,527
271
4,738
1,462
241
1,702
6,441
Accumulated depreciation
(697)
(1,350)
(1,126)
-
(3,173)
(712)
(104)
(816)
(3,989)
Book value
454
440
401
271
1,565
749
137
886
2,452
Additions
1
148
41
271
461
25
78
103
564
Assets available for use
42
69
127
(239)
(1)
1
-
1
-
Depreciation
(44)
(174)
(155)
-
(373)
(132)
(58)
(190)
(563)
Impairments
(1)
(17)
(14)
-
(33)
(7)
-
(7)
(39)
Divestments and transfers to assets classified as held for sale
(1)
-
(2)
(2)
(5)
(1)
-
(1)
(6)
Reclassifications
5
(5)
(15)
(3)
(18)
-
-
-
(18)
Translation differences and other
(28)
(52)
(28)
(23)
(132)
(28)
(13)
(41)
(173)
Total change
(26)
(31)
(46)
3
(100)
(142)
8
(134)
(235)
Balance as of December 31, 2025
Cost
1,105
1,550
1,411
274
4,340
1,328
255
1,583
5,923
Accumulated depreciation
(677)
(1,142)
(1,055)
-
(2,875)
(721)
(110)
(831)
(3,706)
Book value
428
408
355
274
1,465
607
145
752
2,217
", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-730": { "value": "
10Property, plant and equipment
\"Icon_Accounting
Accounting policies
Owned assets
The cost of property, plant and equipment comprise all directly attributable costs (including the cost of
material and direct labor).
Depreciation is generally calculated using the straight-line method over the useful life of the asset. Land and
assets under construction are not depreciated. When assets under construction are ready for their intended
use, they are transferred to the relevant asset category and depreciation starts. All other property, plant and
equipment items are depreciated over their estimated useful lives to their estimated residual values.
The estimated useful lives of property, plant and equipment are:
Philips Group
Useful lives of property, plant and equipment
Buildings
from\u00a05 to 50 years
Machinery and installations
from 3\u00a0to 20 years
Other equipment
from 1 to 10 years
Property, plant and equipment are reviewed for impairment whenever events or changes in circumstances
indicate that the book value of the assets concerned may not be recoverable. An impairment loss is
recognized for the amount by which the asset's book value exceeds their recoverable amount. Impairments
are reversed if and to the extent that the impairment no longer exists. The recoverable amount is defined as
the higher of the asset\u2019s fair value less costs of disposal and its value in use.
Gains and losses on the sale of property, plant and equipment are included in other business income. Costs
related to repair and maintenance activities are expensed in the period in which they are incurred unless they
extend the asset's original lifetime or capacity.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-734": { "value": "
10Property, plant and equipment
\"Icon_Accounting
Accounting policies
Owned assets
Gains and losses on the sale of property, plant and equipment are included in other business income. Costs
related to repair and maintenance activities are expensed in the period in which they are incurred unless they
extend the asset's original lifetime or capacity.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRepairsAndMaintenanceExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-736": { "value": "
10Property, plant and equipment
\"Icon_Accounting
Accounting policies
Right-of-use assets
The company leases various items of real estate, vehicles and other equipment. The company determines
whether an arrangement constitutes or contains a lease based on the substance of the arrangement at the
lease inception. The arrangement constitutes or contains a lease if fulfillment is dependent on the use of a
specific asset and the arrangement conveys a right to use the asset, even if that asset is not explicitly specified
in the arrangement.
Company as a lessee
The company recognizes right-of-use assets and lease liabilities for leases with a term of more than 12 months
if the underlying asset is not of low value. Payments for short-term and low-value leases are expensed over
the lease term. Extension options are included in the lease term if their exercise is reasonably certain. Right-of-
use assets are measured at cost less accumulated depreciation and impairment losses, adjusted for any
remeasurements. Right-of-use assets are depreciated using the straight-line method over the shorter of the
lease term and the useful life of the underlying assets.
Company as a lessor
When the company acts as a lessor, it determines at lease inception whether a lease is a finance lease or an
operating lease. Leases in which the company does not transfer substantially all the risks and rewards
incidental to ownership of an asset are classified as operating leases. The company recognizes lease payments
received under operating leases as income on a straight-line basis over the lease term in the Consolidated
statement of income.
18Debt
\"Icon_Accounting
Accounting policies
Lease liabilities
Lease liabilities are measured at the present value of the lease payments due over the lease term, generally
discounted using the incremental borrowing rate. Lease liabilities are subsequently measured at amortized
cost using the effective interest rate method. Lease liabilities are remeasured in case of modifications or
reassessments of the lease.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-735": { "value": "
10Property, plant and equipment
\"Icon_Accounting
Accounting policies
Property, plant and equipment are reviewed for impairment whenever events or changes in circumstances
indicate that the book value of the assets concerned may not be recoverable. An impairment loss is
recognized for the amount by which the asset's book value exceeds their recoverable amount. Impairments
are reversed if and to the extent that the impairment no longer exists. The recoverable amount is defined as
the higher of the asset\u2019s fair value less costs of disposal and its value in use.
11Goodwill
\"Icon_Accounting
Accounting policies
The measurement of goodwill at initial recognition is described in the Acquisitions and divestments note.
Goodwill is subsequently measured at cost, less accumulated impairment losses.
Goodwill is not amortized but is instead tested for impairment annually in the fourth quarter, or more
frequently if indicators of potential impairment exist. Internal and external sources of information are
considered to assess if there are indicators that an asset or groups of cash-generating units (CGUs) may be
impaired. Goodwill is allocated to groups of CGUs and tested for impairment at the Business level (one level
below segment), which represents the lowest level at which goodwill is monitored internally for management
purposes. An impairment loss is recognized in the Consolidated statements of income whenever and to the
extent that the carrying amount of a group of CGUs exceeds the recoverable amount for the group of CGUs,
whichever is the greater, its value in use or its fair value less cost of disposal. Value in use is measured as the
present value of future cash flows expected to be generated by the asset. Fair value less cost of disposal is
measured as the amount obtained from the sale of an asset in an arm\u2019s length transaction, less costs of
disposal.
12Intangible assets excluding goodwill
\"Icon_Accounting
Accounting policies
Impairment of intangible assets not yet ready for use
Intangible assets not yet ready for use are not amortized but are tested for impairment annually and whenever
impairment indicators require. In the case of intangible assets not yet ready for use, either internal or external
sources of information are considered to assess if there are indicators that an asset or a CGU may be impaired.
Impairment of non-financial assets other than goodwill, intangible assets not yet ready for use, inventories
and deferred tax assets
Non-financial assets other than goodwill, intangible assets not yet ready for use, inventories and deferred tax
assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying
amount of an asset may not be recoverable. Recoverability of assets to be held and used is assessed by a
comparison of the carrying amount of an asset with the greater of its value in use and fair value less cost of
disposal. Value in use is measured as the present value of future cash flows expected to be generated by the
asset. Fair value less cost of disposal is measured as the amount obtained from a sale of an asset in an arm\u2019s
length transaction, less costs of disposal. If the carrying amount of an asset is deemed not recoverable, an
impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the
recoverable amount. The review for impairment is carried out at the level where cash flows occur that are
independent of other cash flows.
Impairment losses recognized in prior periods for intangible assets other than goodwill are assessed at each
reporting date for any indications that the loss has decreased or no longer exists. An impairment loss is
reversed if and to the extent that there has been a change in the estimates used to determine the recoverable
amount. The loss is reversed only to the extent that the asset\u2019s carrying amount does not exceed the carrying
amount that would have been determined, net of depreciation or amortization, if no impairment loss had
been recognized. Reversals of impairment are recognized in the Consolidated statements of income.
13Other financial assets
\"Icon_Accounting
Accounting policies
Impairment of financial assets
The company recognizes a loss allowance for expected credit losses (ECL) for trade receivables, contract assets,
lease receivables, and debt instruments measured at amortized cost or at FVTOCI.
At each reporting date, the company assesses the credit risk of its financial assets. If, at the reporting date, the
credit risk on a debt instrument has not increased significantly since initial recognition, the company measures
the loss allowance for the financial asset at an amount equal to 12 months of expected credit losses. If, at the
reporting date, the credit risk on a debt instrument has increased significantly since initial recognition, the
company measures the loss allowance for the financial asset at an amount equal to the lifetime-expected
credit losses. For all trade receivables, contract assets and lease receivables the company measures the loss
allowance at an amount equal to lifetime-expected credit losses.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-733": { "value": "
10Property, plant and equipment
\"Icon_Accounting
Accounting policies
Property, plant and equipment are reviewed for impairment whenever events or changes in circumstances
indicate that the book value of the assets concerned may not be recoverable. An impairment loss is
recognized for the amount by which the asset's book value exceeds their recoverable amount. Impairments
are reversed if and to the extent that the impairment no longer exists. The recoverable amount is defined as
the higher of the asset\u2019s fair value less costs of disposal and its value in use.
11Goodwill
\"Icon_Accounting
Accounting policies
The measurement of goodwill at initial recognition is described in the Acquisitions and divestments note.
Goodwill is subsequently measured at cost, less accumulated impairment losses.
Goodwill is not amortized but is instead tested for impairment annually in the fourth quarter, or more
frequently if indicators of potential impairment exist. Internal and external sources of information are
considered to assess if there are indicators that an asset or groups of cash-generating units (CGUs) may be
impaired. Goodwill is allocated to groups of CGUs and tested for impairment at the Business level (one level
below segment), which represents the lowest level at which goodwill is monitored internally for management
purposes. An impairment loss is recognized in the Consolidated statements of income whenever and to the
extent that the carrying amount of a group of CGUs exceeds the recoverable amount for the group of CGUs,
whichever is the greater, its value in use or its fair value less cost of disposal. Value in use is measured as the
present value of future cash flows expected to be generated by the asset. Fair value less cost of disposal is
measured as the amount obtained from the sale of an asset in an arm\u2019s length transaction, less costs of
disposal.
12Intangible assets excluding goodwill
\"Icon_Accounting
Accounting policies
Impairment of intangible assets not yet ready for use
Intangible assets not yet ready for use are not amortized but are tested for impairment annually and whenever
impairment indicators require. In the case of intangible assets not yet ready for use, either internal or external
sources of information are considered to assess if there are indicators that an asset or a CGU may be impaired.
Impairment of non-financial assets other than goodwill, intangible assets not yet ready for use, inventories
and deferred tax assets
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-732": { "value": "
10Property, plant and equipment
\"Icon_Accounting
Accounting policies
Right-of-use assets
The company leases various items of real estate, vehicles and other equipment. The company determines
whether an arrangement constitutes or contains a lease based on the substance of the arrangement at the
lease inception. The arrangement constitutes or contains a lease if fulfillment is dependent on the use of a
specific asset and the arrangement conveys a right to use the asset, even if that asset is not explicitly specified
in the arrangement.
Company as a lessee
The company recognizes right-of-use assets and lease liabilities for leases with a term of more than 12 months
if the underlying asset is not of low value. Payments for short-term and low-value leases are expensed over
the lease term. Extension options are included in the lease term if their exercise is reasonably certain. Right-of-
use assets are measured at cost less accumulated depreciation and impairment losses, adjusted for any
remeasurements. Right-of-use assets are depreciated using the straight-line method over the shorter of the
lease term and the useful life of the underlying assets.
Company as a lessor
When the company acts as a lessor, it determines at lease inception whether a lease is a finance lease or an
operating lease. Leases in which the company does not transfer substantially all the risks and rewards
incidental to ownership of an asset are classified as operating leases. The company recognizes lease payments
received under operating leases as income on a straight-line basis over the lease term in the Consolidated
statement of income.
Right-of-use assets
Judgment is required to determine the lease term. The assessment of whether the company is reasonably
certain to exercise extension options impacts the lease term, which could affect the amount of lease liabilities
and right-of-use assets recognized.
Property, plant and equipment are fixed assets that are owned or right-of-use assets under a lease agreement.
Owned and right-of-use assets are held for use in Philips' operating activities.
Philips Group
Property, plant and equipment in millions of EUR\u00a0
2025
2024
Owned assets
1,465
1,565
Right-of-use assets
752
886
Total
2,217
2,452
Leasing activities
The company leases equipment to customers under operating lease arrangements. These leases primarily
relate to the Diagnosis & Treatment and Connected Care segments. At December\u00a031, 2025, the net book value
of assets subject to operating leases amounted to EUR 143 million (2024: EUR 135 million), which includes
additions of EUR 135 million recognized during 2025 (2024: EUR 131 million) and depreciation of EUR 96
million recognized during 2025 (2024: EUR 103 million).
The company leases various items of real estate, vehicles and other equipment where it acts as a lessee. The
company has multiple extension and termination options in a number of lease contracts. These are used to
maximize operational flexibility in terms of managing the assets used in the company's operations. The
options considered reasonably certain are part of lease liabilities. The company has no commitments to any
leases not yet commenced in 2025 (2024: EUR 0 million). The company's lease contracts do not contain
financial covenants.
The company enters into sale-and-leaseback transactions primarily for its Sleep & Respiratory Care Business.
These transactions are accounted for at market value. The payments for these leases are considered in
determining lease liabilities. Principal repayments are part of cash flows used for financing activities and
interest payments are part of cash flows used for operating activities. The cash inflows arising from the sales
transactions are part of cash flows provided by financing activities. Lease payments under sale-and-leaseback
arrangements for 2025 were EUR 29 million (2024: EUR 43 million). The remaining minimum payment under
sale-and-leaseback arrangements included in lease obligations above are:
Philips Group
Remaining minimum payments under sale-and-leaseback arrangements in millions of EUR
2026
30
2027
24
2028
17
2029
13
2030
5
Thereafter
-
Further lease disclosures as lessee can be found in Income from operations, Financial income and expenses,
Cash flow statement supplementary information and Debt. For disclosures for lease receivables refer to
Receivables.
Philips Group
Property, plant and equipment\u00a0in millions of EUR
Owned assets
Right-of-use assets
Property, plant and equipment
Land and
buildings
Machinery and
installations
Other equipment
Assets under
construction
Total
Land and
buildings
Other equipment
Total
Total
Balance as of January 1, 2024
Cost
1,114
1,731
1,404
274
4,521
1,425
216
1,641
6,162
Accumulated depreciation
(638)
(1,278)
(1,041)
-
(2,957)
(619)
(104)
(722)
(3,679)
Book value
476
453
363
274
1,565
806
113
919
2,483
Additions
2
134
76
236
448
101
87
189
637
Assets available for use
12
70
140
(248)
(26)
26
-
26
-
Depreciation
(49)
(191)
(166)
-
(406)
(146)
(56)
(202)
(608)
Impairments
(14)
(23)
(28)
-
(65)
(23)
-
(23)
(89)
Reclassifications
7
(6)
8
(1)
8
(9)
(3)
(12)
(4)
Translation differences and other
20
2
9
10
41
(6)
(4)
(10)
31
Total change
(22)
(13)
38
(3)
1
(57)
24
(33)
(32)
Balance as of December 31, 2024
Cost
1,151
1,790
1,527
271
4,738
1,462
241
1,702
6,441
Accumulated depreciation
(697)
(1,350)
(1,126)
-
(3,173)
(712)
(104)
(816)
(3,989)
Book value
454
440
401
271
1,565
749
137
886
2,452
Additions
1
148
41
271
461
25
78
103
564
Assets available for use
42
69
127
(239)
(1)
1
-
1
-
Depreciation
(44)
(174)
(155)
-
(373)
(132)
(58)
(190)
(563)
Impairments
(1)
(17)
(14)
-
(33)
(7)
-
(7)
(39)
Divestments and transfers to assets classified as held for sale
(1)
-
(2)
(2)
(5)
(1)
-
(1)
(6)
Reclassifications
5
(5)
(15)
(3)
(18)
-
-
-
(18)
Translation differences and other
(28)
(52)
(28)
(23)
(132)
(28)
(13)
(41)
(173)
Total change
(26)
(31)
(46)
3
(100)
(142)
8
(134)
(235)
Balance as of December 31, 2025
Cost
1,105
1,550
1,411
274
4,340
1,328
255
1,583
5,923
Accumulated depreciation
(677)
(1,142)
(1,055)
-
(2,875)
(721)
(110)
(831)
(3,706)
Book value
428
408
355
274
1,465
607
145
752
2,217
16Receivables
Philips has leasing activities where it acts as lessor. In such arrangements, Philips provides the customer with a
right to use of medical equipment in exchange for a series of payments. Residual values of assets under lease
form an insignificant part of the carrying amount of those assets. Residual values are influenced by asset
market prices and are therefore subject to management estimation. Residual values are at least reassessed on
an annual basis, or more often when necessary. Reassessments are based on a combination of realization of
assets sold, expert knowledge and judgment of local markets. In order to reduce residual value risk exposures
there may be residual value guarantees or purchase options embedded in the customer contract. Credit risk
for lease receivables is reviewed regularly and mitigated, for example, by retaining a security interest in the
leased asset.
The accompanying table sets out a maturity analysis of lease receivables, showing the undiscounted lease
payments to be received after the reporting date.
Philips Group
Maturity analysis of lease receivables in millions EUR
2025
2024
Less than one year
55
33
One to two years
11
20
Two to three years
9
16
Three to four years
8
14
Four to five years
7
12
Over five years
17
19
Total undiscounted lease payments receivable
106
114
Unearned finance income
(10)
(12)
Net investment in lease
96
102
18Debt
\"Icon_Accounting
Accounting policies
Lease liabilities
Lease liabilities are measured at the present value of the lease payments due over the lease term, generally
discounted using the incremental borrowing rate. Lease liabilities are subsequently measured at amortized
cost using the effective interest rate method. Lease liabilities are remeasured in case of modifications or
reassessments of the lease.
Long-term debt
The accompanying tables present information about the long-term debt outstanding, its maturity and
average interest rates in 2025 and 2024.
Philips Group
Long-term debt in millions of EUR unless otherwise stated
2025
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
1,135
108
1,027
-
1,027
12.6
6.2%
EUR bonds
5,659
632
5,027
2,747
2,280
4.5
2.5%
Forward contracts
274
152
123
123
-
1.2
0.5%
Lease liabilities
963
207
757
479
277
3.5
4.0%
Bank borrowings
1
1
-
-
-
1.0
1.0%
Other long-term debt
-
-
-
-
-
3.6
1.3%
Long-term debt
8,032
1,098
6,934
3,349
3,584
5.4
3.2%
Philips Group
Long-term debt in millions of EUR unless otherwise stated
2024
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
1,408
131
1,276
122
1,154
12.3
6.3%
EUR bonds
4,917
4,917
2,639
2,278
4.7
2.3%
Forward contracts
148
82
66
66
-
1.3
1.2%
Lease liabilities
1,073
219
854
506
347
3.8
3.7%
Bank borrowings
1
1
1
1
-
1.5
1.0%
Other long-term debt
-
-
-
-
-
3.2
1.2%
Long-term debt
7,546
434
7,113
3,333
3,779
5.9
3.2%
Leases
The accompanying table presents a reconciliation between the total of future minimum lease payments and
their present value.
Philips Group
Lease liabilities in millions of EUR
2025
2024
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
241
34
207
255
35
219
Between one and five years
556
76
479
592
85
506
More than five years
304
27
277
385
38
347
Lease liabilities
1,101
137
963
1,232
159
1,073
23Cash flow statement supplementary information
Cash paid for leases
In 2025 , gross lease payments of EUR 268 million (2024: EUR 252 million ; 2023 : EUR 271 million ) included
interest of EUR 38 million (2024: EUR 37 million; 2023 : EUR 27 million).", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-740": { "value": "
11Goodwill
\"Icon_Accounting
Accounting policies
The measurement of goodwill at initial recognition is described in the Acquisitions and divestments note.
Goodwill is subsequently measured at cost, less accumulated impairment losses.
Goodwill is not amortized but is instead tested for impairment annually in the fourth quarter, or more
frequently if indicators of potential impairment exist. Internal and external sources of information are
considered to assess if there are indicators that an asset or groups of cash-generating units (CGUs) may be
impaired. Goodwill is allocated to groups of CGUs and tested for impairment at the Business level (one level
below segment), which represents the lowest level at which goodwill is monitored internally for management
purposes. An impairment loss is recognized in the Consolidated statements of income whenever and to the
extent that the carrying amount of a group of CGUs exceeds the recoverable amount for the group of CGUs,
whichever is the greater, its value in use or its fair value less cost of disposal. Value in use is measured as the
present value of future cash flows expected to be generated by the asset. Fair value less cost of disposal is
measured as the amount obtained from the sale of an asset in an arm\u2019s length transaction, less costs of
disposal.
12Intangible assets excluding goodwill
\"Icon_Accounting
Accounting policies
Acquired finite-lived intangible assets are amortized using the straight-line method over their estimated
useful life. The useful lives are evaluated annually. Intangible assets are initially capitalized at cost, with the
exception of intangible assets acquired as part of a business combination, which are capitalized at their
acquisition date fair value.
The company expenses all research costs as incurred. Expenditure on development activities, whereby research
findings are applied to a plan or design for the production of new or substantially improved products and
processes, is capitalized as an intangible asset if the product or process is technically and commercially
feasible, the company has sufficient resources and the intention to complete development and can measure
the attributable expenditure reliably.
The capitalized development expenditure comprises of all directly attributable costs (including the cost of
materials and direct labor). Other development expenditures and expenditures on research activities are
recognized in the Consolidated statements of income. Capitalized development expenditure is stated at cost
less accumulated amortization and impairment losses. Amortization of capitalized development expenditure
is charged to the Consolidated statements of income on a straight-line basis over the estimated useful lives of
the intangible assets.
Philips Group
Expected useful lives of intangible assets excluding goodwill in years
Brand names
2-20
Customer relationships
2-25
Technology
3-20
Other
1-10
Software
1-10
Product development
3-10
The weighted average expected remaining life of brand names, customer relationships, technology and other
intangible assets is 8.2 years as of December\u00a031, 2025 (2024 : 8.5 years ).
Impairment of intangible assets not yet ready for use
Intangible assets not yet ready for use are not amortized but are tested for impairment annually and whenever
impairment indicators require. In the case of intangible assets not yet ready for use, either internal or external
sources of information are considered to assess if there are indicators that an asset or a CGU may be impaired.
Impairment of non-financial assets other than goodwill, intangible assets not yet ready for use, inventories
and deferred tax assets
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-739": { "value": "
11Goodwill
\"Icon_Accounting
Accounting policies
The measurement of goodwill at initial recognition is described in the Acquisitions and divestments note.
Goodwill is subsequently measured at cost, less accumulated impairment losses.
Goodwill is not amortized but is instead tested for impairment annually in the fourth quarter, or more
frequently if indicators of potential impairment exist. Internal and external sources of information are
considered to assess if there are indicators that an asset or groups of cash-generating units (CGUs) may be
impaired. Goodwill is allocated to groups of CGUs and tested for impairment at the Business level (one level
below segment), which represents the lowest level at which goodwill is monitored internally for management
purposes. An impairment loss is recognized in the Consolidated statements of income whenever and to the
extent that the carrying amount of a group of CGUs exceeds the recoverable amount for the group of CGUs,
whichever is the greater, its value in use or its fair value less cost of disposal. Value in use is measured as the
present value of future cash flows expected to be generated by the asset. Fair value less cost of disposal is
measured as the amount obtained from the sale of an asset in an arm\u2019s length transaction, less costs of
disposal.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-741": { "value": "
12Intangible assets excluding goodwill
\"Icon_Accounting
Accounting policies
Acquired finite-lived intangible assets are amortized using the straight-line method over their estimated
useful life. The useful lives are evaluated annually. Intangible assets are initially capitalized at cost, with the
exception of intangible assets acquired as part of a business combination, which are capitalized at their
acquisition date fair value.
The company expenses all research costs as incurred. Expenditure on development activities, whereby research
findings are applied to a plan or design for the production of new or substantially improved products and
processes, is capitalized as an intangible asset if the product or process is technically and commercially
feasible, the company has sufficient resources and the intention to complete development and can measure
the attributable expenditure reliably.
The capitalized development expenditure comprises of all directly attributable costs (including the cost of
materials and direct labor). Other development expenditures and expenditures on research activities are
recognized in the Consolidated statements of income. Capitalized development expenditure is stated at cost
less accumulated amortization and impairment losses. Amortization of capitalized development expenditure
is charged to the Consolidated statements of income on a straight-line basis over the estimated useful lives of
the intangible assets.
Philips Group
Expected useful lives of intangible assets excluding goodwill in years
Brand names
2-20
Customer relationships
2-25
Technology
3-20
Other
1-10
Software
1-10
Product development
3-10
The weighted average expected remaining life of brand names, customer relationships, technology and other
intangible assets is 8.2 years as of December\u00a031, 2025 (2024 : 8.5 years ).
Impairment of intangible assets not yet ready for use
Intangible assets not yet ready for use are not amortized but are tested for impairment annually and whenever
impairment indicators require. In the case of intangible assets not yet ready for use, either internal or external
sources of information are considered to assess if there are indicators that an asset or a CGU may be impaired.
Impairment of non-financial assets other than goodwill, intangible assets not yet ready for use, inventories
and deferred tax assets
Non-financial assets other than goodwill, intangible assets not yet ready for use, inventories and deferred tax
assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying
amount of an asset may not be recoverable. Recoverability of assets to be held and used is assessed by a
comparison of the carrying amount of an asset with the greater of its value in use and fair value less cost of
disposal. Value in use is measured as the present value of future cash flows expected to be generated by the
asset. Fair value less cost of disposal is measured as the amount obtained from a sale of an asset in an arm\u2019s
length transaction, less costs of disposal. If the carrying amount of an asset is deemed not recoverable, an
impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the
recoverable amount. The review for impairment is carried out at the level where cash flows occur that are
independent of other cash flows.
Impairment losses recognized in prior periods for intangible assets other than goodwill are assessed at each
reporting date for any indications that the loss has decreased or no longer exists. An impairment loss is
reversed if and to the extent that there has been a change in the estimates used to determine the recoverable
amount. The loss is reversed only to the extent that the asset\u2019s carrying amount does not exceed the carrying
amount that would have been determined, net of depreciation or amortization, if no impairment loss had
been recognized. Reversals of impairment are recognized in the Consolidated statements of income.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-743": { "value": "
12Intangible assets excluding goodwill
\"Icon_Accounting
Accounting policies
The company expenses all research costs as incurred. Expenditure on development activities, whereby research
findings are applied to a plan or design for the production of new or substantially improved products and
processes, is capitalized as an intangible asset if the product or process is technically and commercially
feasible, the company has sufficient resources and the intention to complete development and can measure
the attributable expenditure reliably.
The capitalized development expenditure comprises of all directly attributable costs (including the cost of
materials and direct labor). Other development expenditures and expenditures on research activities are
recognized in the Consolidated statements of income. Capitalized development expenditure is stated at cost
less accumulated amortization and impairment losses. Amortization of capitalized development expenditure
is charged to the Consolidated statements of income on a straight-line basis over the estimated useful lives of
the intangible assets.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-742": { "value": "
12Intangible assets excluding goodwill
\"Icon_Accounting
Accounting policies
The company expenses all research costs as incurred. Expenditure on development activities, whereby research
findings are applied to a plan or design for the production of new or substantially improved products and
processes, is capitalized as an intangible asset if the product or process is technically and commercially
feasible, the company has sufficient resources and the intention to complete development and can measure
the attributable expenditure reliably.
The capitalized development expenditure comprises of all directly attributable costs (including the cost of
materials and direct labor). Other development expenditures and expenditures on research activities are
recognized in the Consolidated statements of income. Capitalized development expenditure is stated at cost
less accumulated amortization and impairment losses. Amortization of capitalized development expenditure
is charged to the Consolidated statements of income on a straight-line basis over the estimated useful lives of
the intangible assets.
", "dimensions": { "concept": "ifrs-full:DisclosureOfResearchAndDevelopmentExpenseExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-751": { "value": "
13Other financial assets
\"Icon_Accounting
Accounting policies
Classification and measurement of financial assets
The company applies IFRS 9 in classifying and measuring financial assets. Classification and measurement
depend on the characteristics of the financial asset\u2019s contractual cash flows and the company\u2019s business model
for managing the assets.
The company initially measures a financial asset at its fair value plus, in the case of financial assets other than
those designated at fair value through profit or loss, transaction costs.
For the purposes of subsequent measurement, financial assets are classified into four categories:
\u2022 Financial assets at amortized cost: debt instruments held with the objective to collect contractual cash flows,
provided that the cash flows represent solely payments of principal and interest.
\u2022 Financial assets at fair value through other comprehensive income (FVTOCI): debt instruments held with the
objective to collect contractual cash flows and sell the financial asset, provided that the cash flows represent
solely payments of principal and interest. Changes in fair value are recognized in OCI and recycled to profit
or loss upon derecognition.
\u2022 Financial assets at FVTOCI: equity instruments for which the company made an irrevocable election to
present subsequent changes in their fair value in OCI given that the short-term fair value fluctuations of
these long-term, equity investments are not considered representative of the company\u2019s performance.
Gains and losses are not recycled to profit or loss upon derecognition; however, dividends are recognized in
profit or loss.
\u2022 Financial assets at fair value through profit or loss (FVTPL): debt instruments that do not meet the criteria
for amortized cost or FVTOCI, and equity instruments not designated at FVTOCI, are measured at FVTPL.
Changes in fair value are recognized in profit or loss.
Impairment of financial assets
The company recognizes a loss allowance for expected credit losses (ECL) for trade receivables, contract assets,
lease receivables, and debt instruments measured at amortized cost or at FVTOCI.
At each reporting date, the company assesses the credit risk of its financial assets. If, at the reporting date, the
credit risk on a debt instrument has not increased significantly since initial recognition, the company measures
the loss allowance for the financial asset at an amount equal to 12 months of expected credit losses. If, at the
reporting date, the credit risk on a debt instrument has increased significantly since initial recognition, the
company measures the loss allowance for the financial asset at an amount equal to the lifetime-expected
credit losses. For all trade receivables, contract assets and lease receivables the company measures the loss
allowance at an amount equal to lifetime-expected credit losses.
\"Icon_Accounting
Accounting estimates and judgments
The determination of fair value is subject to estimates for investments that are not publicly traded. Refer to
Fair value of financial assets and liabilities .
Financial assets classified at amortized cost and at fair value through OCI are subject to impairment
assessment. The calculation of expected credit losses requires the company to apply significant judgment and
make estimates and assumptions that involve significant uncertainty at the time they are made. Changes to
these estimates and assumptions can result in significant changes to the timing and amount of expected credit
losses to be recognized.
Other current financial assets
In 2025 , Other current financial assets decreased from EUR 2 million to EUR 0 million (2024: decreased from
EUR 3 million to EUR 2 million).
Other non-current financial assets
The company\u2019s investments in Other non-current financial assets mainly consist of investments in common
shares of companies in various industries and investments in limited life funds. The changes during 2025 and
2024 are presented in the accompanying table:
Philips Group
Other non-current financial assets in millions of EUR
Non-current
financial assets at
FVTPL
Non-current
financial assets at
FVTOCI
Non-current
financial assets at
Amortized cost
Total
Balance as of January 1, 2025
288
242
102
631
Changes:
Acquisitions/additions
118
3
11
132
Sales/redemptions/reductions
(14)
(32)
(9)
(55)
Value adjustment through OCI
-
(14)
-
(14)
Value adjustment through P&L
(26)
-
-
(26)
Translation differences and other
(22)
(19)
(2)
(42)
Reclassifications
36
40
1
78
Balance as of December 31, 2025
380
221
103
704
Philips Group
Other non-current financial assets in millions of EUR
Non-current
financial assets at
FVTPL
Non-current
financial assets at
FVTOCI
Non-current
financial assets at
Amortized cost
Total
Balance as of January 1, 2024
284
258
77
619
Changes:
Acquisitions/additions
76
6
65
147
Sales/redemptions/reductions
(31)
(14)
(11)
(56)
Value adjustment through OCI
-
(23)
-
(23)
Value adjustment through P&L
(25)
-
1
(23)
Translation differences and other
8
12
(4)
16
Reclassifications
(25)
4
(27)
(47)
Balance as of December 31, 2024
288
242
102
631
As of December\u00a031, 2025, equity investments of EUR 213 million (2024: EUR 222 million) are accounted under
the FVTOCI category based on the company's election at initial recognition mainly because such investments
are neither held for trading purposes nor primarily for their increase in value and the elected presentation is
considered to reflect the nature and purpose of the investment.
16Receivables
\"Icon_Accounting
Accounting policies
Receivables are initially measured at fair value and are subsequently measured at amortized cost if held
within a business model with the objective to collect the contractual cash flows, or at fair value through OCI if
held within a business model with the objective of both holding to collect contractual cash flows and selling.
Receivables are measured less any impairment losses.
Receivables are de-recognized when the company has transferred substantially all risks and rewards, which
includes transactions in which the company enters into factoring transactions, or if the company does not
retain control over the receivables.
\"Icon_Accounting
Accounting estimates
Receivables are subject to impairment assessment, which involves estimating expected credit losses. Refer to
Other financial assets for accounting policies on impairment of financial assets.
Non-current receivables
Non-current receivables are associated mainly with customer financing in the Diagnosis & Treatment segment
amounting (net of allowance) to EUR 84 million (2024 : EUR 81 million ), insurance receivables in the US
amounting to EUR 28 million (2024: EUR 33 million) and income tax receivables amounting to EUR 19 million
(2024: EUR 36 million).
Philips has leasing activities where it acts as lessor. In such arrangements, Philips provides the customer with a
right to use of medical equipment in exchange for a series of payments. Residual values of assets under lease
form an insignificant part of the carrying amount of those assets. Residual values are influenced by asset
market prices and are therefore subject to management estimation. Residual values are at least reassessed on
an annual basis, or more often when necessary. Reassessments are based on a combination of realization of
assets sold, expert knowledge and judgment of local markets. In order to reduce residual value risk exposures
there may be residual value guarantees or purchase options embedded in the customer contract. Credit risk
for lease receivables is reviewed regularly and mitigated, for example, by retaining a security interest in the
leased asset.
The accompanying table sets out a maturity analysis of lease receivables, showing the undiscounted lease
payments to be received after the reporting date.
Philips Group
Maturity analysis of lease receivables in millions EUR
2025
2024
Less than one year
55
33
One to two years
11
20
Two to three years
9
16
Three to four years
8
14
Four to five years
7
12
Over five years
17
19
Total undiscounted lease payments receivable
106
114
Unearned finance income
(10)
(12)
Net investment in lease
96
102
Current receivables
Current receivables of EUR 3,530 million (2024: EUR 3,672 million ) as of December\u00a031, 2025, included trade
accounts receivable (net of allowance) of EUR 3,339 million (2024: EUR 3,513 million ), accounts receivable
other of EUR 173 million (2024: EUR 134 million), and accounts receivable from investments in associates of
EUR 19 million (2024: EUR 25 million).
The trade accounts receivable, net, per segment are:
Philips Group
Trade accounts receivable, net in millions of EUR
2025
2024
Diagnosis & Treatment
1,582
1,687
Connected Care
1,043
1,064
Personal Health
562
575
Other
152
187
Trade accounts receivable, net
3,339
3,513
The aging analysis of trade accounts receivable, net, representing current and overdue but not fully impaired
receivables, is presented in the accompanying table.
Philips Group
Aging analysis in millions of EUR
2025
2024
Current
3,077
3,154
Overdue 1-30 days
54
141
Overdue 31-180 days
171
194
Overdue more than 180 days
37
24
Trade accounts receivable, net
3,339
3,513
The changes in the allowance for doubtful accounts receivable are:
Philips Group
Allowance for accounts receivable in millions of EUR
2025
2024
Balance as of January 1
245
216
Additions charged to expense
37
112
Deductions from allowance \u00b9
(45)
(88)
Transfer to assets held for sale
(1)
-
Other movements
(43)
5
Balance as of December 31
193
245
1Write-offs for which an allowance was previously provided.
The allowance for doubtful accounts receivable has been established for expected credit losses and is related
primarily to receivables that are past due. The allowance presented also includes the allowance for Non-
current customer finance receivables of EUR 1 million (2024: EUR 8 million). Other movements in the current
period primarily relate to the reclassification of a provision for contractual allowances for certain Connected
Care receivables, as well as the impact of foreign currency remeasurement.
Included in the above balances as of December\u00a031, 2025, are allowances for individually impaired receivables
of EUR 189 million (2024: EUR 239 million
\"Icon_Accounting
Accounting policies
Debt
Debt is initially measured at fair value net of directly attributable transaction costs. Subsequently, debt is
measured at amortized cost using the effective interest rate method. Amortized cost is calculated by taking
into account any discount or premium on acquisition and fees or costs that are an integral part of the
effective interest rate. Debt is derecognized when the obligation under the liability is discharged, cancelled or
has expired.
Philips has a USD 2.5 billion Commercial Paper Program and a EUR 1 billion committed standby revolving
credit facility that can be used for general group purposes. As of December\u00a031, 2025 , Philips did not have any
loans outstanding under either facility. These facilities do not have a material adverse change clause, have no
financial covenants and no credit-rating-related acceleration possibilities.
Philips established a Euro Medium-Term Note (EMTN) program, a framework that facilitates the issuance of
notes for a total amount up to EUR 10 billion . In 2025, Philips issued two new tranches under the program for
a total of EUR 1\u00a0billion fixed rate notes due 2030 and 2035 for general corporate purposes, including the
refinancing of the 2026 EUR and USD Bonds, and tendered on outstanding 2026, 2027, 2028 and 2029 EUR
Bonds. As of December 31, 2025, Philips has EUR 4.6\u00a0billion (2024: EUR 3.7\u00a0billion) fixed rate notes outstanding
under the EMTN program.
The conditions applicable to all USD-denominated corporate bonds issued by the company in March 2008 and
March 2012 (due 2038 and 2042) contain a \u2018Change of Control Triggering Event\u2019. If the company would
experience such an event with respect to a series of corporate bonds the company might be required to offer
to purchase the bonds that are still outstanding at a purchase price equal to 101% of their principal amount,
plus accrued and unpaid interest, if any. Furthermore, the conditions applicable to the EUR-denominated
corporate bonds issued since 2018 contain a similar provision (\u2018Change of Control Put Event\u2019). Upon the
occurrence of such an event, the company might be required to redeem or purchase any of such bonds at
their principal amount together with interest accrued. Philips\u2019 outstanding long-term debt does not contain
financial covenants.
As of December 31, 2025, debt includes forward contracts of EUR 260\u00a0million (nominal value) relating to the
repurchase of shares to cover long-term incentive and employee stock purchase plans (2024: EUR 142\u00a0million),
with maturity dates in the fourth quarter of 2026 (EUR 141\u00a0million) and in 2027 (EUR 119\u00a0million).
Long-term debt
The accompanying tables present information about the long-term debt outstanding, its maturity and
average interest rates in 2025 and 2024.
Philips Group
Long-term debt in millions of EUR unless otherwise stated
2025
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
1,135
108
1,027
-
1,027
12.6
6.2%
EUR bonds
5,659
632
5,027
2,747
2,280
4.5
2.5%
Forward contracts
274
152
123
123
-
1.2
0.5%
Lease liabilities
963
207
757
479
277
3.5
4.0%
Bank borrowings
1
1
-
-
-
1.0
1.0%
Other long-term debt
-
-
-
-
-
3.6
1.3%
Long-term debt
8,032
1,098
6,934
3,349
3,584
5.4
3.2%
Philips Group
Long-term debt in millions of EUR unless otherwise stated
2024
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
1,408
131
1,276
122
1,154
12.3
6.3%
EUR bonds
4,917
4,917
2,639
2,278
4.7
2.3%
Forward contracts
148
82
66
66
-
1.3
1.2%
Lease liabilities
1,073
219
854
506
347
3.8
3.7%
Bank borrowings
1
1
1
1
-
1.5
1.0%
Other long-term debt
-
-
-
-
-
3.2
1.2%
Long-term debt
7,546
434
7,113
3,333
3,779
5.9
3.2%
Bonds
The accompanying table presents the amount outstanding and effective rate of bonds.
Philips Group
Unsecured Bonds in millions of EUR unless otherwise stated
Effective rate
2025
2024
Unsecured EUR Bonds
Due 22/05/2026; 1/2%
0.608%
632
750
Due 05/05/2027; 1 7/8%
2.049%
687
750
Due 02/05/2028; 1 3/8%
1.523%
480
500
Due 05/11/2029; 2 1/8%
2.441%
595
650
Due 30/03/2030; 2%
2.128%
500
500
Due 31/05/2030; 3 2/8%
3.324%
500
Due 08/09/2031; 4 2/8%
4.33%
500
500
Due 31/05/2032; 3 3/4%
4.043%
700
700
Due 05/05/2033; 2 5/8%
2.71%
600
600
Due 31/05/2035; 4%
4.092%
500
Unsecured USD Bonds
Due 15/05/2025; 7 3/4%
7.429%
52
Due 15/05/2025; 7 1/8%
6.794%
79
Due 01/06/2026; 7 1/5%
6.885%
108
121
Due 03/11/2038; 6 7/8%
7.21%
620
697
Due 15/03/2042; 5%
5.273%
426
480
Adjustments \u00b9
(54)
(55)
Unsecured Bonds
6,794
6,324
1Adjustments related to both EUR and USD bonds and concern bond discounts, premium and transaction costs
Short-term debt
Philips Group
Short-term debt in millions of EUR
2025
2024
Short-term bank borrowings
52
92
Current portion of long-term debt
1,098
434
Short-term debt
1,151
526
During 2025, the weighted average interest rate on the bank borrowings was 6.3% (2024: 9.3%). This
decrease was mainly driven by lower interest rate environments across various countries globally.
28Fair value of financial assets and liabilities
\"Icon_Accounting
Accounting policies
Fair value hierarchy
For financial reporting purposes, financial instruments are categorized into Level 1, 2 or 3, based on the
degree to which the inputs to the fair value measurements are observable and the significance of the inputs
to the fair value measurement in its entirety, which are as follows:
\u2022 Level 1: inputs are quoted prices (unadjusted) for identical assets or liabilities in active markets that the
company can access at the measurement date
\u2022 Level 2: all significant inputs (other than quoted prices included within Level 1) are observable for the asset
or liability, either directly (as prices) or indirectly (derived from prices)
\u2022 Level 3: one or more of the significant inputs are not based on observable market data, such as third-party
pricing information without adjustments, for the asset or liability
Transfers between Level 1, Level 2, and Level 3 of the fair value hierarchy are recognized at the end of the
reporting period in which the change occurred. Transfers are made when there is a change in the
observability of inputs, such as:
\u2022 Into Level 1: When quoted prices in active markets become available.
\u2022 Out of Level 1: When quoted prices are no longer available or markets become inactive.
\u2022 Into or out of Level 3: When significant inputs become observable or unobservable.
There were no transfers between levels during the years ended December 31, 2025, and December 31, 2024.
Offsetting and master netting agreements
Financial assets and liabilities are offset and the net amount is reported in the balance sheet when, and only
when, the company currently has a legally enforceable right to set-off the amounts and the group intends
either to settle them on a net basis or to realize the asset and settle the liability simultaneously.
\"Icon_Accounting
Accounting estimates and judgments
Determining the fair value of financial instruments requires the use of estimates according to the method
applied for each type of financial asset of liability. The estimated fair value of financial instruments has been
determined by the company using available market information and appropriate valuation methods. The
estimates presented are not necessarily indicative of the amounts that will ultimately be realized by the
company upon maturity or disposal. The use of different market assumptions and/or estimation methods may
have a material effect on the estimated fair value amounts.
Specific valuation techniques used to value financial instruments include:
Level 1
Instruments included in level 1 are composed primarily of listed equity investments classified as financial assets
carried at fair value through profit or loss or carried at fair value through other comprehensive income (OCI).
The fair value of financial instruments traded in active markets is based on quoted market prices at the
balance sheet date. A market is regarded as active if quoted prices are readily and regularly available from an
exchange, dealer, broker, industry group, pricing service, or regulatory agency, and those prices represent
actual and regularly occurring market transactions on an arm\u2019s length basis.
Level 2
The fair value of financial instruments that are not traded in an active market (for example, over-the-counter
derivatives or convertible bond instruments) is determined by using valuation techniques. These valuation
techniques maximize the use of observable market data where it is available and rely as little as possible on
entity-specific estimates. If all significant inputs required to fair value an instrument are based on observable
market data, the instrument is included in level 2. The fair value of derivatives is calculated as the present
value of the estimated future cash flows based on observable interest yield curves, basis spread and foreign
exchange rates. The valuation of convertible bond instruments uses observable market quoted data for the
options and present value calculations using observable yield curves for the fair value of the bonds.
The fair value of debt is estimated on the basis of the quoted market prices for certain issuances, or on the
basis of discounted cash flow analysis using market rates plus Philips\u2019 spread for the particular tenors of the
borrowing arrangement. Accrued interest is not included within the carrying amount or estimated fair value
of debt.
Level 3
If one or more of the significant inputs are not based on observable market data, such as third-party pricing
information without adjustments, the instrument is included in level 3.
For financial instruments measured at Level 3, where quoted market prices are not available, Philips applies
valuation techniques such as discounted cash flow (DCF) models and market multiple approaches. These
valuation techniques reflect current market conditions at the reporting date and incorporate the best
available data. Significant unobservable inputs used in these valuations may include assumptions regarding
revenue growth, discount rates, credit risk adjustments, capture rates, forward prices, earnings multiples, and
liquidity discounts.
Contingent consideration represents the fair value of expected payments to former shareholders of an
acquired company, conditional upon the occurrence of specified future events or the fulfillment of certain
conditions \u2013 such as achieving regulatory or commercial milestones. The terms of each acquisition agreement
define these milestones, which may trigger additional payments if met. The fair value of contingent
consideration is generally determined using a probability-weighted and risk-adjusted approach to estimate
the likelihood of achieving future milestones. For commercial milestones, the discount rates applied in the
risk-adjusted approach reflect the inherent risks associated with their achievement, while both regulatory and
commercial milestones are discounted for the time value of money at risk-free rates. Contingent consideration
can fluctuate significantly, driven by changes in the estimated probability of milestone achievement and
adjustments to discount rates. Changes in the fair value of the contingent consideration liability are
recognized in other business income (expenses). The measurement of fair value is based on management\u2019s
estimates and assumptions, and accordingly classified as Level 3 in the fair value hierarchy.
The accompanying table shows the carrying amounts and fair values of financial assets and financial liabilities,
including their levels in the fair value hierarchy. Fair value information for financial assets and financial
liabilities not carried at fair value is not included if the carrying amount is a reasonable approximation of fair
value. For cash and cash equivalents, loans and receivables, accounts payable, interest accrual and debt
(excluding bonds and leases), the carrying amounts approximate fair value because of the nature of these
instruments (including maturity and interest conditions) and therefore estimated fair value information is not
included.
Philips Group
Fair value of financial assets and liabilities in millions of EUR\u00a0
as of December 31,
2025
2024
Carrying amount
Estimated fair value
Level 1
Level 2
Level 3
Carrying amount
Estimated fair value
Financial assets
Carried at fair value:
Debt instruments
302
302
302
231
231
Equity instruments
2
2
2
3
3
Other financial assets
76
76
53
23
54
54
Financial assets carried at FVTP&L
380
380
53
328
288
288
Debt instruments
8
8
8
21
21
Equity instruments
213
213
2
212
222
222
Current financial assets
-
-
-
2
2
Receivables - current
13
13
13
-
-
Receivables - non-current
17
17
17
Financial assets carried at FVTOCI
252
252
2
38
212
244
244
Derivative financial instruments
99
99
82
17
77
77
Financial assets carried at fair value
731
731
2
173
556
609
609
Carried at (amortized) cost:
Cash and cash equivalents
2,794
2,401
Loans and receivables:
Other non-current loans and receivables
103
102
Receivables - current
3,517
3,672
Receivables - non-current
193
208
Financial assets carried at (amortized) cost
6,607
6,382
Total financial assets
7,338
6,992
Financial liabilities
Carried at fair value:
Contingent consideration
(111)
(111)
(111)
(113)
(113)
Financial liabilities carried at FVTP&L
(111)
(111)
(111)
(113)
(113)
Derivative financial instruments
(39)
(39)
(39)
(63)
(63)
Financial liabilities carried at fair value
(149)
(149)
(39)
(111)
(176)
(176)
Carried at (amortized) cost:
Accounts payable
(1,927)
(1,830)
Interest accrual
(95)
(83)
Debt (Corporate bonds and leases)
(7,757)
(7,818)
(6,854)
(963)
(7,397)
(7,363)
Debt (excluding corporate bonds and leases)
(327)
(241)
Financial liabilities carried at (amortized) cost
(10,107)
(9,551)
Total financial liabilities
(10,257)
(9,728)
The accompanying table shows the reconciliation from the beginning balance to the end balance for Level 3
fair value measurements.
Philips Group
Reconciliation of Level 3 fair value measurements in millions of EUR
2025
2024
Financial
assets
Financial
liabilities
Financial
assets
Financial
liabilities
Balance as of January 1
460
113
503
115
Acquisitions
Purchase
127
86
Sales
(44)
(48)
Utilizations
(1)
(9)
Recognized in profit and loss:
other business income
3
2
financial income and expenses \u00b9
(17)
1
(23)
3
Recognized in other comprehensive income \u00b2
(43)
(5)
(8)
3
Receivables held to collect and sell
(32)
Reclassification
74
(18)
-
Balance as of December 31
556
111
460
113
1Refer to Financial income and expenses for details.\u00a0
2Includes translation differences
Offsetting and master netting agreements
Transactions in derivatives are subject to master netting and set-off agreements. In the case of certain
termination events, under the terms of the master agreement, Philips can terminate the outstanding
transactions and aggregate their positive and negative values to arrive at a single net termination sum (or
close-out amount). This contractual right is subject to the following:
\u2022 The right may be limited by local law if the counterparty is subject to bankruptcy proceedings.
\u2022 The right applies on a bilateral basis.
Philips Group
Financial assets subject to offsetting, enforceable master netting arrangements or similar agreements in millions of EUR
2025
2024
Derivatives
Gross amounts of recognized financial assets
82
72
Gross amounts of recognized financial liabilities offset in the balance sheet
Net amounts of financial assets presented in the balance sheet
82
72
Related amounts not offset in the balance sheet
Financial instruments
(32)
(45)
Net amount
51
27
Philips Group
Financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements in millions of EUR
2025
2024
Derivatives
Gross amounts of recognized financial liabilities
(39)
(63)
Gross amounts of recognized financial assets offset in the balance sheet
Net amounts of financial liabilities presented in the balance sheet
(39)
(63)
Related amounts not offset in the balance sheet
Financial instruments
32
45
Net amount
(7)
(18)
29Details of treasury and other financial risks
\"Icon_Accounting
Accounting policies
Derivative financial instruments, including hedge accounting
The company uses derivative financial instruments principally to manage its foreign currency risks and, to a
more limited extent, interest rate and commodity price risks. All derivative financial instruments are
accounted for at the trade date and classified as current or non-current assets or liabilities based on the
maturity date or the early termination date. The company measures all derivative financial instruments at fair
value that is derived from the market prices of the instruments, calculated on the basis of the present value of
the estimated future cash flows based on observable interest yield curves, basis spread, credit spreads and
foreign exchange rates, or derived from option pricing models, as appropriate. Gains or losses arising from
changes in fair value of derivatives are recognized in the Consolidated statements of income, except for
derivatives that are highly effective and qualify for cash flow or net investment hedge accounting.
Changes in the fair value of a derivative that is highly effective and that is designated and qualifies as a cash
flow hedge are recorded in other comprehensive income (OCI) until the Consolidated statements of income
are affected by the variability in cash flows of the designated hedged item. To the extent that the hedge is
ineffective, changes in the fair value are recognized in the Consolidated statements of income.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognized in
the Consolidated statements of income, together with any changes in the fair value of the hedged asset or
liability that are attributable to the hedged risk. The gain or loss relating to the effective portion of interest
rate swaps hedging fixed-rate borrowings is recognized in the Consolidated statements of income, together
with changes in the fair value of the hedged fixed-rate borrowings attributable to interest rate risk.\u00a0If the
hedge no longer meets the criteria for hedge accounting, the adjustment to the carrying amount of a hedged
item for which the effective interest rate method is used is amortized to profit or loss over the period to
maturity using a recalculated effective interest rate.
The company formally assesses, both at the hedge\u2019s inception and on an ongoing basis, whether the
derivatives that are used in hedging transactions are highly effective in offsetting changes in fair values or
cash flows of hedged items. When it is established that a derivative is not highly effective as a hedge or that it
has ceased to be a highly effective hedge, the company discontinues hedge accounting prospectively. When
hedge accounting is discontinued because a forecasted transaction is expected not to occur, the company
continues to carry the derivative on the Consolidated balance sheets at its fair value, and gains and losses that
were accumulated in OCI are recognized immediately in the same line item as they relate to in the
Consolidated statements of income.
Foreign currency differences arising upon retranslation of financial instruments designated as a hedge of a
net investment in a foreign operation are recognized directly in the currency translation differences reserve
through OCI, to the extent that the hedge is effective. To the extent that the hedge is ineffective, such
differences are recognized in the Consolidated statements of income.
\"Icon_Accounting
Accounting estimates and judgments
Financial assets are subject to impairment assessment, which involves estimating expected credit losses. Refer
to Other financial assets for accounting policies on impairment of financial assets.
Philips is exposed to several types of financial risks which are further analyzed below. Philips does not
purchase or hold derivative financial instruments for speculative purposes. Information regarding financial
instruments is included in Fair value of financial assets and liabilities .
Liquidity risk
Liquidity risk is the risk that an entity will encounter difficulty in meeting obligations associated with financial
liabilities.
Liquidity risk for the group is monitored through the Treasury liquidity committee, which tracks the
development of the actual cash flow position for the group and uses input from a number of sources in order
to forecast the overall liquidity position on both short and longer term basis. Philips invests surplus cash in
short-term deposits with appropriate maturities and money market funds to ensure sufficient liquidity is
available to meet liabilities when due.
The rating of the company\u2019s debt by major rating agencies may improve or deteriorate. As a result, Philips\u2019
future borrowing capacity may be influenced and its financing costs may fluctuate. Philips has various sources
to mitigate the liquidity risk for the group. As of December\u00a031, 2025, Philips had EUR 2,794 million in cash and
cash equivalents (2024: EUR 2,401 million), which includes short-term deposits of EUR 2,086 million (2024 : EUR
1,946 million ). Cash and cash equivalents include all cash balances, money market funds and short-term highly
liquid investments with an original maturity of three months or less that are readily convertible into known
amounts of cash. Philips pools cash from subsidiaries to the extent legally and economically feasible; cash not
pooled remains available for the company\u2019s operational or investment needs.
Philips faces cross-border foreign exchange controls and/or other legal restrictions in a few countries that
could limit its ability to make these balances available on short notice for general use by the group.
Philips has a USD 2.5 billion Commercial Paper Program and a EUR 1 billion committed standby revolving
credit facility that can be used for general group purposes. As of December\u00a031, 2025 , Philips did not have any
loans outstanding under either facility. These facilities do not have a material adverse change clause, have no
financial covenants and have no credit-rating-related acceleration possibilities.
Philips established a Euro Medium-Term Note (EMTN) program, a framework that facilitates the issuance of
notes for a total amount up to EUR 10 billion. In 2025, Philips issued two new tranches under the program for
a total of EUR 1\u00a0billion fixed rate notes due 2030 and 2035 for general corporate purposes, including the
refinancing of the 2026 EUR and USD bonds, and tendered on outstanding 2026, 2027, 2028 and 2029 EUR
bonds. As of December\u00a031, 2025, Philips has EUR 4.6 billion (2024: EUR 3.7 billion) fixed rates notes
outstanding under the EMTN program. For a description of Philips\u2019 credit facilities, refer to Debt.
In addition to cash and cash equivalents, as of December\u00a031, 2025, Philips also held EUR 2 million (2024: EUR 4
million) of listed (level 1) equity investments at fair value (classified as other non-current financial assets).
The accompanying table presents a summary of the Group\u2019s fixed contractual cash obligations and
commitments as of December\u00a031, 2025. These amounts are an estimate of future payments which could
change as a result of various factors such as a change in interest rates, foreign exchange, and contractual
provisions, as well as changes in business strategy and needs. Therefore, the actual payments made in future
periods may vary from those presented.
Philips Group
Contractual cash obligations 1 2 in millions of EUR
2025
Payments due by period
Total
Less than 1 year
1-3 years
3-5 years
After 5 years
Long-term debt
7,086
1,630
1,806
3,650
Short-term debt
1,174
1,174
Interest on debt
1,765
216
402
361
786
Derivative liabilities
36
35
1
-
-
Purchase obligations \u00b3
1,189
293
390
306
200
Trade and other payables
1,927
1,927
Contractual cash
obligations
13,177
3,645
2,423
2,473
4,636
Philips Group
Contractual cash obligations 1 2 in millions of EUR
2024
Payments due by period
Total
Less than 1 year
1-3 years
3-5 years
After 5 years
Long-term debt
7,168
2,006
1,338
3,824
Short-term debt
525
525
Interest on debt
1,792
197
368
325
902
Derivative liabilities
72
64
8
-
-
Purchase obligations \u00b3
1,161
300
307
210
344
Trade and other payables
1,830
1,830
Contractual cash
obligations
12,548
2,916
2,689
1,873
5,070
1Amounts in this table are undiscounted
2This table excludes post-employment benefit plan contribution commitments, contingent consideration and income tax
liabilities in respect of tax risks because it is not possible to make a reasonably reliable estimate of the actual period of cash
settlement.
3Purchase obligations are agreements to purchase goods or services that are enforceable and legally binding for the Group. They
specify all significant terms, including fixed or minimum quantities to be purchased, fixed, minimum or variable price provisions
and the approximate timing of the transaction. They do not include open purchase orders or other commitments which do not
specify all significant terms.
Philips has contracts with investment funds where it committed itself to make, under certain conditions,
capital contributions to these funds of an aggregated remaining amount of EUR 112 million (2024: EUR 130
million). As of December\u00a031, 2025, capital contributions already made to these investment funds are recorded
as non-current financial assets.
Philips offers voluntary supply chain finance programs for certain US dollar, euro, Swedish krona and Brazilian
real third parties which provide participating suppliers the opportunity to factor their trade receivables at the
sole discretion of both the suppliers and the third parties. Philips continues to recognize these liabilities as
trade payables and settles them accordingly on the invoice maturity date based on the terms and conditions
of those arrangements. As of December 31, 2025, approximately EUR 117 million (2024: EUR 97 million ) of the
Philips account payable were transferred under these arrangements.
Philips Group
Carrying amount of financial liabilities 1 in millions of EUR
2025
2024
Presented in accounts payables:
117
97
- of which suppliers have received payment from finance provider
99
85
Philips Group
Range of payment due dates
2025
2024
Liabilities that are part of the arrangements
60-135 days
30-135 days
Comparable trade payables that are not part of the arrangements
0-140 days
0-135 days
1There were no material business combinations or foreign exchange differences during the year.
With respect to the Respironics field action, please refer to Contingencies. The management continues to
monitor the risks associated with such potential claims and its impact on liquidity position, if any.
Currency risk
Currency risk is the risk that reported financial performance or the fair value or future cash flows of a financial
instrument will fluctuate because of changes in foreign exchange rates. Philips operates in many countries
and currencies and therefore currency fluctuations may impact Philips\u2019 financial results. Philips is exposed to
currency risk in the following areas:
\u2022 transaction exposures, related to anticipated sales and purchases and on-balance-sheet receivables/payables
resulting from such transactions
\u2022 translation exposure of foreign-currency intercompany and external debt and deposits
\u2022 translation exposure of net income in foreign entities
\u2022 translation exposure of foreign-currency-denominated equity invested in consolidated companies
\u2022 translation exposure to equity interests in non-functional-currency investments in associates and other non-
current financial assets
It is Philips\u2019 policy to reduce the potential year-on-year volatility caused by foreign-currency movements on its
net earnings by hedging the anticipated net exposure of foreign currencies resulting from foreign-currency
sales and purchases. In general, net anticipated exposures for the Group are hedged during a period of 15
months in layers of 8% up to a maximum hedge ratio based on an FX VaR Efficient Frontier. The FX VaR
Efficient Frontier model determines the target hedge ratios per currency quantifying the VaR reduction in
relation to the cost associated with hedging. Philips\u2019 policy requires significant committed foreign currency
exposures to be fully hedged, generally using forwards. However, not every foreign currency can or shall be
hedged as there may be regulatory barriers or prohibitive hedging cost preventing Philips from effectively
and/or efficiently hedging its currency exposures. As a result, hedging activities cannot and will not eliminate
all currency risks for anticipated and committed transaction exposures.
The accompanying table outlines the estimated nominal value in millions of EUR for committed and
anticipated transaction exposure and related hedges for Philips\u2019 most significant currency exposures
consolidated as of December\u00a031, 2025.
Philips Group
Estimated transaction exposure and related hedges in millions of EUR
Sales/Receivables
Purchases/Payable
Exposure
Hedges
Exposure
Hedges
Balance as of December 31, 2025
Exposure currency
USD
1,814
(1,526)
(1,127)
1,023
JPY
600
(354)
(6)
6
GBP
259
(173)
(10)
10
CNY
304
(267)
(177)
177
PLN
53
(32)
(2)
2
CAD
260
(159)
AUD
160
(98)
CHF
154
(105)
(1)
1
KRW
143
(85)
ILS
5
(3)
(206)
128
EUR
187
(186)
(178)
178
Others
165
(112)
(70)
37
Total 2025
4,104
(3,100)
(1,777)
1,562
Total 2024
4,420
(3,188)
(1,743)
1,543
Philips uses foreign exchange spot and forward contracts, as well as zero cost collars in hedging the exposure.
The derivatives related to transactions are, for hedge accounting purposes, split into hedges of on-balance-
sheet accounts receivable/payable and forecasted sales and purchases. Changes in the value of on-balance-
sheet foreign-currency accounts receivable/payable, as well as the changes in the fair value of the hedges
related to these exposures, are reported in the income statement under costs of sales. Hedges related to
forecasted transactions, where hedge accounting is applied, are accounted for as cash flow hedges. The
results from such hedges are deferred in other comprehensive income within equity to the extent that the
hedge is effective.
As of December\u00a031, 2025, a gain of EUR 33 million was deferred in equity as a result of these hedges (2024:
EUR 1 million gain). The result deferred in equity will be released to earnings mostly during 2026 at the time
when the related hedged transactions affect the income statement. During 2025, EUR 0.5 million (2024: nil)
was recorded in the consolidated statement of income as a result of ineffectiveness on certain anticipated
cash flow hedges. Ineffectiveness arises when anticipated exposures are no longer expected to be highly
probable. During 2025, a gain of EUR 29 million (2024: EUR 29 million gain) included in the cash flow hedges
reserve in equity pertaining to changes in fair value of foreign exchange forward and option contracts was
released to the income statement.
The total net fair value of hedges related to transaction exposure as of December\u00a031, 2025, was an unrealized
gain of EUR 47 million. The estimated impact of a 10% increase of value of the EUR is estimated to be EUR
104 million. The accompanying table contains an overview of the instantaneous 10% increase in the value of
EUR against major currencies.
Philips Group
Estimated impact of 10% increase of value of the EUR on the fair value of hedges in millions of EUR
2025
2024
USD
59
63
JPY
19
13
GBP
10
13
CHF
10
7
The EUR 104 million increase includes a gain of EUR 48 million that would impact the income statement,
which would largely offset the opposite revaluation effect on the underlying accounts receivable and payable,
and the remaining gain of EUR 55 million would be recognized in equity to the extent that the cash flow
hedges were effective.
Foreign exchange exposure also arises as a result of inter-company loans and deposits. Where the company
enters into such arrangements, the financing is generally provided in the functional currency of the subsidiary
entity. The currency of the company\u2019s external funding and liquid assets is matched with the required
financing of subsidiaries, either directly through external foreign currency loans and deposits, or synthetically
by using foreign exchange derivatives, including cross currency interest rate swaps and foreign exchange
forward contracts. In certain cases where group companies may also have external foreign currency debt or
liquid assets, these exposures are also hedged through the use of foreign exchange derivatives. Changes in
the fair value of hedges related to this exposure are recognized within financial income and expenses in the
statements of income. When such loans would be considered part of the net investment in the subsidiary, net
investment hedging would be applied.
Translation exposure of foreign-currency equity invested in consolidated entities is generally not hedged. If a
hedge is entered into, it is accounted for as a net investment hedge. Net current-period change, before tax, of
the currency translation reserve of negative EUR 1,641 million mainly relates to the development of the USD
versus the EUR. As of December\u00a031, 2025, a weakening of USD by 10% versus the EUR would result in a
decrease in the currency translation reserve in equity of approximately EUR 1,012 million, while a
strengthening of USD by 10% versus the EUR would result in an increase in the currency translation reserve in
equity of approximately EUR 1,236 million. Refer to the country risk section for countries with significant
foreign currency denominated equity invested.
As of December\u00a031, 2025, external bond funding for a book value of USD 1,331 million (EUR 1,135 million)
was designated as a net investment hedge of financing investments in foreign operations for an equal
amount (2024: USD 1,466 million (EUR 1,408 million)). During 2025, a gain of EUR 151 million was recognized
in currency translation differences within the consolidated statements of comprehensive income (2024: loss of
EUR 82 million). During 2025, no ineffectiveness was recognized in the income statement on net investment
hedges arising from counterparty and own credit risk (2024: no ineffectiveness).
As of December\u00a031, 2025, an instantaneous 10% increase in the value of the EUR against all currencies would
lead to an decrease of EUR 26 million in the value of the derivatives, including a EUR 1 million increase related
to the US dollar (2024: EUR 106 million, including a EUR 50 million decrease related to the US dollar).
Generally Philips does not hedge the foreign exchange exposure arising from equity interests in non-
functional-currency investments in associates and other non-current financial assets.
Interest rate risk
Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate
because of changes in market interest rates. As of December\u00a031, 2025, Philips had outstanding debt of EUR
8,084 million (2024: EUR 7,639 million), which constitutes an inherent interest rate risk with potential negative
impact on financial results. As of December\u00a031, 2025, Philips held EUR 2,794 million in cash and cash
equivalents (2024: EUR 2,401 million), and had total long-term debt of EUR 6,934 million (2024: EUR 7,113
million) and total short-term debt of EUR 1,151 million (2024: EUR 526 million). As of December\u00a031, 2025,
Philips had a ratio of fixed-rate long-term debt to total outstanding debt of approximately 86% compared to
93% one year earlier. Philips debt has a long maturity profile with an average tenor of long-term debt of 5.4
years with maturities up to 2042.
Philips targets an efficient balance between cost and debt and volatility in interest expenses through the
fixed/floating ratio. In optimizing the fixed/floating ratio, interest-rate swaps may be used to hedge (part of)
Philips\u2019 fixed-rate debt.
As of December 31, 2025, Philips had interest rate swaps for a total notional amount of EUR 250\u00a0million
(2024: EUR 0\u00a0million) whereby Philips receives a fixed rate of 3.25% and pays EURIBOR 6M plus a weighted-
average spread of 1.04%. The swaps are maturing on May 23, 2030 and are used to hedge the exposure to
changes in the fair value of part of Philips\u2019 fixed-rate debt. The fixed-rate debt and swaps have been
designated in fair value hedge relationships. There is an economic relationship between the hedged item and
the hedging instruments as the terms of the swaps match the terms of the debt. Philips has established a
hedge ratio of 1:1 for the hedging relationships as the underlying risk of the interest rate swaps is identical to
the hedged risk component. Hedge effectiveness is tested qualitatively and ineffectiveness is measured and
booked every reporting period.
The impact of the hedged item (included in long-term debt) and the hedging instruments (included in other
non-current liabilities) on the consolidated balance sheet is:
Philips Group
Carrying amount and fair value adjustments of fair value hedge relationships in millions of EUR
2025
Carrying amount/ Notional
amount
Accumulated fair value
adjustments/Carrying amount
Change in fair value used for
measuring ineffectiveness for
the period
Fixed-rate long-term debt
(245)
4
4
Interest rate swaps
250
(4)
(4)
Hedge ineffectiveness primarily arises from differences in curve discounting and timing of swap resets
between the hedged item and hedging instrument as well as changes in credit valuation adjustment (CVA)
and debit valuation adjustment (DVA) on the hedging instrument. The ineffectiveness recognized in financial
income and expenses in the consolidated statement of income was immaterial for 2025.
The following table provides the impact of a 1% increase/decrease of interest rates on the fair value of the
debt and the annualized net interest expenses.
Philips Group
Interest rate sensitivity in millions of EUR
2025
2024
Impact 1% interest rate increase on annualized net interest expense \u00b9
27
23
1The impact is based on the outstanding net floating-rate position as of December\u00a031, 2025.
Equity price risk
Equity price risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate
because of changes in equity prices.
Philips is a shareholder in some publicly listed companies and as a result is exposed to potential financial loss
through movements in their share prices. The aggregate equity price exposure in such financial assets
amounted to approximately EUR 2 million as of December\u00a031, 2025 (2024: EUR 4 million). Philips does not hold
derivatives in the above-mentioned listed companies. Philips also has shareholdings in several privately-owned
companies amounting to EUR 214 million (2024: EUR 220 million) mainly consisting of minority stakes in
companies in various industries. As a result, Philips is exposed to potential value adjustments.
Commodity price risk
Commodity price risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate
because of changes in commodity prices.
Philips is a purchaser of certain base metals, precious metals and energy. Philips may hedge certain commodity
price risks using derivative instruments to minimize significant, unanticipated earnings fluctuations caused by
commodity price volatility. As of December\u00a031, 2025, Philips had financial commodity derivatives outstanding
to the value of EUR 17 million (2024: 6 million).
Credit risk
Credit risk represents the loss that would be recognized at the reporting date, if counterparties failed
completely to perform their payment obligations as contracted. Credit risk is present within Philips trade
receivables, contract assets and customer financing. To have better insights into the credit exposures, Philips
performs ongoing evaluations of the financial and non-financial condition of its customers and adjusts credit
limits when appropriate. In instances where the creditworthiness of a customer is determined not to be
sufficient to grant the credit limit required, there are a number of mitigation tools that can be utilized to
close the gap, including reducing payment terms, cash on delivery, pre-payments and pledges on assets.
Philips invests available cash and cash equivalents with various financial institutions and is exposed to credit
risk with these counterparties. Philips is also exposed to credit risks in the event of non-performance by
financial institutions with respect to financial derivative instruments. Philips actively manages concentration
risk and on a daily basis measures the potential loss under certain stress scenarios, should a financial
institution default. These worst-case scenario losses are monitored and limited by the company.
The company does not enter into any financial derivative instruments to protect against default by financial
institutions. However, where possible the company requires all financial institutions with which it deals in
derivative transactions to complete legally enforceable netting agreements under an International Swap
Dealers Association master agreement or otherwise prior to trading, and whenever possible, to have a strong
credit rating. Philips also regularly monitors the development of the credit risk of its financial counterparties.
Wherever possible, cash is invested and financial transactions are concluded with financial institutions with
strong credit ratings or with governments or government-backed institutions.
The accompanying table shows the number of financial institutions with credit rating A- and above with
which Philips has cash at hand and short-term deposits above EUR 10 million as of December\u00a031, 2025.
Philips Group
Credit risk with number of counterparties for deposits above EUR 10 million
10-100 million
100-500 million
500 million and above
AAA rated bank counterparties
2
AA- rated bank counterparties
1
1
A+ rated bank counterparties
2
3
A rated bank counterparties
2
2
A- rated bank counterparties
2
Total
5
10
For an overview of the overall maximum credit exposure related to debt instruments, derivatives and loans
and receivables, refer to Fair value of financial assets and liabilities.
Country risk
Country risk is the risk that political, legal, or economic developments in a single country could adversely
impact performance. The country risk per country is defined as the sum of the equity of all subsidiaries and
associated companies in country cross-border transactions, such as intercompany loans, accounts receivable
from third parties and intercompany accounts receivable. The country risk is monitored on a regular basis.
As of December\u00a031, 2025, the company had country risk exposure of EUR 12 billion in the US, EUR 1.6 billion in
the Netherlands, EUR 769 million in China (including Hong Kong). Other countries higher than EUR 500
million are the United Kingdom at EUR 732 million, Germany at EUR 627 million, France at EUR 537 million
and Japan at EUR 532 million. Other countries with significant exposure are: Singapore at EUR 204 million and
India at EUR 238 million. The degree of risk of a country is taken into account when new investments are
considered. The company does not, however, use financial derivative instruments to hedge country risk.
The impact of hyperinflation is also routinely assessed and was not material for the periods presented.
Other insurable risks
Philips is insured for a broad range of losses by global insurance policies in the areas of property damage/
business interruption, general and product liability, transport, directors\u2019 and officers\u2019 liability, employment
practice liability, crime and cybersecurity. The counterparty risk related to the insurance companies
participating in the above-mentioned global insurance policies is actively managed. As a rule, Philips only
selects insurance companies with a financial strength of at least A-. Throughout the year the counterparty risk
is monitored on a regular basis.
To lower exposures and to avoid potential losses, Philips has a global Risk Engineering program in place. The
main focus of this program is on property damage and business interruption risks including company
interdependencies. Regular on-site assessments take place at Philips locations and business-critical suppliers by
risk engineers of the insurer in order to provide an accurate assessment of the potential loss and its impact.
The results of these assessments are shared across the company\u2019s stakeholders. On-site assessments are carried
out against the predefined Risk Engineering standards, which are agreed between Philips and the insurers.
Recommendations are made in a Risk Improvement report and are monitored centrally. This is the basis for
decision-making by the local management of the business as to which recommendations will be implemented.
For all policies, deductibles are in place, which vary from EUR 0.01 million to EUR 10 million per occurrence,
and this variance is designed to differentiate between the existing risk categories within Philips. Above a first
layer of working deductibles, Philips utilizes a re-insurance captive as part of its overall risk financing
structure, through which a portion of selected risks is retained, with excess coverage obtained from external
insurers.
New insurance contracts were signed effective December\u00a031, 2025, for the coming year", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-750": { "value": "
13Other financial assets
\"Icon_Accounting
Accounting policies
Classification and measurement of financial assets
The company applies IFRS 9 in classifying and measuring financial assets. Classification and measurement
depend on the characteristics of the financial asset\u2019s contractual cash flows and the company\u2019s business model
for managing the assets.
The company initially measures a financial asset at its fair value plus, in the case of financial assets other than
those designated at fair value through profit or loss, transaction costs.
For the purposes of subsequent measurement, financial assets are classified into four categories:
\u2022 Financial assets at amortized cost: debt instruments held with the objective to collect contractual cash flows,
provided that the cash flows represent solely payments of principal and interest.
\u2022 Financial assets at fair value through other comprehensive income (FVTOCI): debt instruments held with the
objective to collect contractual cash flows and sell the financial asset, provided that the cash flows represent
solely payments of principal and interest. Changes in fair value are recognized in OCI and recycled to profit
or loss upon derecognition.
\u2022 Financial assets at FVTOCI: equity instruments for which the company made an irrevocable election to
present subsequent changes in their fair value in OCI given that the short-term fair value fluctuations of
these long-term, equity investments are not considered representative of the company\u2019s performance.
Gains and losses are not recycled to profit or loss upon derecognition; however, dividends are recognized in
profit or loss.
\u2022 Financial assets at fair value through profit or loss (FVTPL): debt instruments that do not meet the criteria
for amortized cost or FVTOCI, and equity instruments not designated at FVTOCI, are measured at FVTPL.
Changes in fair value are recognized in profit or loss.
Impairment of financial assets
The company recognizes a loss allowance for expected credit losses (ECL) for trade receivables, contract assets,
lease receivables, and debt instruments measured at amortized cost or at FVTOCI.
At each reporting date, the company assesses the credit risk of its financial assets. If, at the reporting date, the
credit risk on a debt instrument has not increased significantly since initial recognition, the company measures
the loss allowance for the financial asset at an amount equal to 12 months of expected credit losses. If, at the
reporting date, the credit risk on a debt instrument has increased significantly since initial recognition, the
company measures the loss allowance for the financial asset at an amount equal to the lifetime-expected
credit losses. For all trade receivables, contract assets and lease receivables the company measures the loss
allowance at an amount equal to lifetime-expected credit losses.
16Receivables
\"Icon_Accounting
Accounting policies
Receivables are initially measured at fair value and are subsequently measured at amortized cost if held
within a business model with the objective to collect the contractual cash flows, or at fair value through OCI if
held within a business model with the objective of both holding to collect contractual cash flows and selling.
Receivables are measured less any impairment losses.
Receivables are de-recognized when the company has transferred substantially all risks and rewards, which
includes transactions in which the company enters into factoring transactions, or if the company does not
retain control over the receivables.
18Debt
\"Icon_Accounting
Accounting policies
Debt
Debt is initially measured at fair value net of directly attributable transaction costs. Subsequently, debt is
measured at amortized cost using the effective interest rate method. Amortized cost is calculated by taking
into account any discount or premium on acquisition and fees or costs that are an integral part of the
effective interest rate. Debt is derecognized when the obligation under the liability is discharged, cancelled or
has expired.
24Contingencies
\"Icon_Accounting
Accounting policies
Financial guarantees
Philips\u2019 policy is to provide guarantees and other letters of support only in writing. Philips does not stand by
other forms of support. The company recognizes a liability at the fair value of the obligation at the inception
of a financial guarantee contract. The guarantee is subsequently measured at the higher of the best estimate
of the obligation or the amount initially recognized less, when appropriate, cumulative amortization.
28Fair value of financial assets and liabilities
\"Icon_Accounting
Accounting policies
Fair value hierarchy
For financial reporting purposes, financial instruments are categorized into Level 1, 2 or 3, based on the
degree to which the inputs to the fair value measurements are observable and the significance of the inputs
to the fair value measurement in its entirety, which are as follows:
\u2022 Level 1: inputs are quoted prices (unadjusted) for identical assets or liabilities in active markets that the
company can access at the measurement date
\u2022 Level 2: all significant inputs (other than quoted prices included within Level 1) are observable for the asset
or liability, either directly (as prices) or indirectly (derived from prices)
\u2022 Level 3: one or more of the significant inputs are not based on observable market data, such as third-party
pricing information without adjustments, for the asset or liability
Transfers between Level 1, Level 2, and Level 3 of the fair value hierarchy are recognized at the end of the
reporting period in which the change occurred. Transfers are made when there is a change in the
observability of inputs, such as:
\u2022 Into Level 1: When quoted prices in active markets become available.
\u2022 Out of Level 1: When quoted prices are no longer available or markets become inactive.
\u2022 Into or out of Level 3: When significant inputs become observable or unobservable.
There were no transfers between levels during the years ended December 31, 2025, and December 31, 2024.
Offsetting and master netting agreements
Financial assets and liabilities are offset and the net amount is reported in the balance sheet when, and only
when, the company currently has a legally enforceable right to set-off the amounts and the group intends
either to settle them on a net basis or to realize the asset and settle the liability simultaneously.
29Details of treasury and other financial risks
\"Icon_Accounting
Accounting policies
Derivative financial instruments, including hedge accounting
The company uses derivative financial instruments principally to manage its foreign currency risks and, to a
more limited extent, interest rate and commodity price risks. All derivative financial instruments are
accounted for at the trade date and classified as current or non-current assets or liabilities based on the
maturity date or the early termination date. The company measures all derivative financial instruments at fair
value that is derived from the market prices of the instruments, calculated on the basis of the present value of
the estimated future cash flows based on observable interest yield curves, basis spread, credit spreads and
foreign exchange rates, or derived from option pricing models, as appropriate. Gains or losses arising from
changes in fair value of derivatives are recognized in the Consolidated statements of income, except for
derivatives that are highly effective and qualify for cash flow or net investment hedge accounting.
Changes in the fair value of a derivative that is highly effective and that is designated and qualifies as a cash
flow hedge are recorded in other comprehensive income (OCI) until the Consolidated statements of income
are affected by the variability in cash flows of the designated hedged item. To the extent that the hedge is
ineffective, changes in the fair value are recognized in the Consolidated statements of income.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognized in
the Consolidated statements of income, together with any changes in the fair value of the hedged asset or
liability that are attributable to the hedged risk. The gain or loss relating to the effective portion of interest
rate swaps hedging fixed-rate borrowings is recognized in the Consolidated statements of income, together
with changes in the fair value of the hedged fixed-rate borrowings attributable to interest rate risk.\u00a0If the
hedge no longer meets the criteria for hedge accounting, the adjustment to the carrying amount of a hedged
item for which the effective interest rate method is used is amortized to profit or loss over the period to
maturity using a recalculated effective interest rate.
The company formally assesses, both at the hedge\u2019s inception and on an ongoing basis, whether the
derivatives that are used in hedging transactions are highly effective in offsetting changes in fair values or
cash flows of hedged items. When it is established that a derivative is not highly effective as a hedge or that it
has ceased to be a highly effective hedge, the company discontinues hedge accounting prospectively. When
hedge accounting is discontinued because a forecasted transaction is expected not to occur, the company
continues to carry the derivative on the Consolidated balance sheets at its fair value, and gains and losses that
were accumulated in OCI are recognized immediately in the same line item as they relate to in the
Consolidated statements of income.
Foreign currency differences arising upon retranslation of financial instruments designated as a hedge of a
net investment in a foreign operation are recognized directly in the currency translation differences reserve
through OCI, to the extent that the hedge is effective. To the extent that the hedge is ineffective, such
differences are recognized in the Consolidated statements of income.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-749": { "value": "
13Other financial assets
\"Icon_Accounting
Accounting policies
Classification and measurement of financial assets
The company applies IFRS 9 in classifying and measuring financial assets. Classification and measurement
depend on the characteristics of the financial asset\u2019s contractual cash flows and the company\u2019s business model
for managing the assets.
The company initially measures a financial asset at its fair value plus, in the case of financial assets other than
those designated at fair value through profit or loss, transaction costs.
For the purposes of subsequent measurement, financial assets are classified into four categories:
\u2022 Financial assets at amortized cost: debt instruments held with the objective to collect contractual cash flows,
provided that the cash flows represent solely payments of principal and interest.
\u2022 Financial assets at fair value through other comprehensive income (FVTOCI): debt instruments held with the
objective to collect contractual cash flows and sell the financial asset, provided that the cash flows represent
solely payments of principal and interest. Changes in fair value are recognized in OCI and recycled to profit
or loss upon derecognition.
\u2022 Financial assets at FVTOCI: equity instruments for which the company made an irrevocable election to
present subsequent changes in their fair value in OCI given that the short-term fair value fluctuations of
these long-term, equity investments are not considered representative of the company\u2019s performance.
Gains and losses are not recycled to profit or loss upon derecognition; however, dividends are recognized in
profit or loss.
\u2022 Financial assets at fair value through profit or loss (FVTPL): debt instruments that do not meet the criteria
for amortized cost or FVTOCI, and equity instruments not designated at FVTOCI, are measured at FVTPL.
Changes in fair value are recognized in profit or loss.
Impairment of financial assets
The company recognizes a loss allowance for expected credit losses (ECL) for trade receivables, contract assets,
lease receivables, and debt instruments measured at amortized cost or at FVTOCI.
At each reporting date, the company assesses the credit risk of its financial assets. If, at the reporting date, the
credit risk on a debt instrument has not increased significantly since initial recognition, the company measures
the loss allowance for the financial asset at an amount equal to 12 months of expected credit losses. If, at the
reporting date, the credit risk on a debt instrument has increased significantly since initial recognition, the
company measures the loss allowance for the financial asset at an amount equal to the lifetime-expected
credit losses. For all trade receivables, contract assets and lease receivables the company measures the loss
allowance at an amount equal to lifetime-expected credit losses.
16Receivables
\"Icon_Accounting
Accounting policies
Receivables are initially measured at fair value and are subsequently measured at amortized cost if held
within a business model with the objective to collect the contractual cash flows, or at fair value through OCI if
held within a business model with the objective of both holding to collect contractual cash flows and selling.
Receivables are measured less any impairment losses.
Receivables are de-recognized when the company has transferred substantially all risks and rewards, which
includes transactions in which the company enters into factoring transactions, or if the company does not
retain control over the receivables.
28Fair value of financial assets and liabilities
\"Icon_Accounting
Accounting policies
Fair value hierarchy
For financial reporting purposes, financial instruments are categorized into Level 1, 2 or 3, based on the
degree to which the inputs to the fair value measurements are observable and the significance of the inputs
to the fair value measurement in its entirety, which are as follows:
\u2022 Level 1: inputs are quoted prices (unadjusted) for identical assets or liabilities in active markets that the
company can access at the measurement date
\u2022 Level 2: all significant inputs (other than quoted prices included within Level 1) are observable for the asset
or liability, either directly (as prices) or indirectly (derived from prices)
\u2022 Level 3: one or more of the significant inputs are not based on observable market data, such as third-party
pricing information without adjustments, for the asset or liability
Transfers between Level 1, Level 2, and Level 3 of the fair value hierarchy are recognized at the end of the
reporting period in which the change occurred. Transfers are made when there is a change in the
observability of inputs, such as:
\u2022 Into Level 1: When quoted prices in active markets become available.
\u2022 Out of Level 1: When quoted prices are no longer available or markets become inactive.
\u2022 Into or out of Level 3: When significant inputs become observable or unobservable.
There were no transfers between levels during the years ended December 31, 2025, and December 31, 2024.
Offsetting and master netting agreements
Financial assets and liabilities are offset and the net amount is reported in the balance sheet when, and only
when, the company currently has a legally enforceable right to set-off the amounts and the group intends
either to settle them on a net basis or to realize the asset and settle the liability simultaneously.
29Details of treasury and other financial risks
\"Icon_Accounting
Accounting policies
Derivative financial instruments, including hedge accounting
The company uses derivative financial instruments principally to manage its foreign currency risks and, to a
more limited extent, interest rate and commodity price risks. All derivative financial instruments are
accounted for at the trade date and classified as current or non-current assets or liabilities based on the
maturity date or the early termination date. The company measures all derivative financial instruments at fair
value that is derived from the market prices of the instruments, calculated on the basis of the present value of
the estimated future cash flows based on observable interest yield curves, basis spread, credit spreads and
foreign exchange rates, or derived from option pricing models, as appropriate. Gains or losses arising from
changes in fair value of derivatives are recognized in the Consolidated statements of income, except for
derivatives that are highly effective and qualify for cash flow or net investment hedge accounting.
Changes in the fair value of a derivative that is highly effective and that is designated and qualifies as a cash
flow hedge are recorded in other comprehensive income (OCI) until the Consolidated statements of income
are affected by the variability in cash flows of the designated hedged item. To the extent that the hedge is
ineffective, changes in the fair value are recognized in the Consolidated statements of income.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognized in
the Consolidated statements of income, together with any changes in the fair value of the hedged asset or
liability that are attributable to the hedged risk. The gain or loss relating to the effective portion of interest
rate swaps hedging fixed-rate borrowings is recognized in the Consolidated statements of income, together
with changes in the fair value of the hedged fixed-rate borrowings attributable to interest rate risk.\u00a0If the
hedge no longer meets the criteria for hedge accounting, the adjustment to the carrying amount of a hedged
item for which the effective interest rate method is used is amortized to profit or loss over the period to
maturity using a recalculated effective interest rate.
The company formally assesses, both at the hedge\u2019s inception and on an ongoing basis, whether the
derivatives that are used in hedging transactions are highly effective in offsetting changes in fair values or
cash flows of hedged items. When it is established that a derivative is not highly effective as a hedge or that it
has ceased to be a highly effective hedge, the company discontinues hedge accounting prospectively. When
hedge accounting is discontinued because a forecasted transaction is expected not to occur, the company
continues to carry the derivative on the Consolidated balance sheets at its fair value, and gains and losses that
were accumulated in OCI are recognized immediately in the same line item as they relate to in the
Consolidated statements of income.
Foreign currency differences arising upon retranslation of financial instruments designated as a hedge of a
net investment in a foreign operation are recognized directly in the currency translation differences reserve
through OCI, to the extent that the hedge is effective. To the extent that the hedge is ineffective, such
differences are recognized in the Consolidated statements of income.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-748": { "value": "
13Other financial assets
\"Icon_Accounting
Accounting policies
Classification and measurement of financial assets
The company applies IFRS 9 in classifying and measuring financial assets. Classification and measurement
depend on the characteristics of the financial asset\u2019s contractual cash flows and the company\u2019s business model
for managing the assets.
The company initially measures a financial asset at its fair value plus, in the case of financial assets other than
those designated at fair value through profit or loss, transaction costs.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-747": { "value": "
13Other financial assets
\"Icon_Accounting
Accounting policies
Classification and measurement of financial assets
The company applies IFRS 9 in classifying and measuring financial assets. Classification and measurement
depend on the characteristics of the financial asset\u2019s contractual cash flows and the company\u2019s business model
for managing the assets.
The company initially measures a financial asset at its fair value plus, in the case of financial assets other than
those designated at fair value through profit or loss, transaction costs.
Accounting estimates and judgments
The determination of fair value is subject to estimates for investments that are not publicly traded. Refer to
Fair value of financial assets and liabilities .
Other current financial assets
In 2025 , Other current financial assets decreased from EUR 2 million to EUR 0 million (2024: decreased from
EUR 3 million to EUR 2 million).
Other non-current financial assets
The company\u2019s investments in Other non-current financial assets mainly consist of investments in common
shares of companies in various industries and investments in limited life funds. The changes during 2025 and
2024 are presented in the accompanying table:
Philips Group
Other non-current financial assets in millions of EUR
Non-current
financial assets at
FVTPL
Non-current
financial assets at
FVTOCI
Non-current
financial assets at
Amortized cost
Total
Balance as of January 1, 2025
288
242
102
631
Changes:
Acquisitions/additions
118
3
11
132
Sales/redemptions/reductions
(14)
(32)
(9)
(55)
Value adjustment through OCI
-
(14)
-
(14)
Value adjustment through P&L
(26)
-
-
(26)
Translation differences and other
(22)
(19)
(2)
(42)
Reclassifications
36
40
1
78
Balance as of December 31, 2025
380
221
103
704
Philips Group
Other non-current financial assets in millions of EUR
Non-current
financial assets at
FVTPL
Non-current
financial assets at
FVTOCI
Non-current
financial assets at
Amortized cost
Total
Balance as of January 1, 2024
284
258
77
619
Changes:
Acquisitions/additions
76
6
65
147
Sales/redemptions/reductions
(31)
(14)
(11)
(56)
Value adjustment through OCI
-
(23)
-
(23)
Value adjustment through P&L
(25)
-
1
(23)
Translation differences and other
8
12
(4)
16
Reclassifications
(25)
4
(27)
(47)
Balance as of December 31, 2024
288
242
102
631
19Provisions
\"Icon_Accounting
Accounting policies
Accounting estimates and judgments
By their nature, the recognition of provisions requires estimates and assumptions regarding the timing and
the amount of outflow of resources. The main estimates include:
\u2022 Product warranty provisions: the provisions for assurance-type product warranty reflect the estimated costs
of replacement and free-of-charge services that will be incurred by the company with respect to products
sold and include costs to execute quality remediation and related field actions (including the Respironics
field action). These require management to make estimates and assumptions about items such as quantities
and the portion of products to be remediated through replacement, repair or (partial) refund.
\u2022 Environmental provisions: provisions for environmental remediation can change significantly due to the
emergence of additional information regarding the extent or nature of the contamination, the need to
utilize alternative technologies, actions by regulatory authorities as well as changes in judgments and
discount rates. The impact of climate change is also considered when assessing whether Philips has a
present legal or constructive obligation, particularly in relation to fines, penalties and commitments to
reduce greenhouse gas emissions.
\u2022 Legal provisions: provisions for legal claims and investigations reflect the best estimate of the outflow of
resources, supported by internal and external legal counsel, when it is probable that such outflow of
resources will be required to settle an obligation.
Philips Group
Provisions in millions of EUR
Product warranty
Environmental
Restructuring-
related
Legal
Other
Post-employment
benefits
Contingent
consideration
Total
Current
624
22
102
477
181
-
57
1,463
Non-current
67
80
14
10
248
558
58
1,035
Balance as of December 31, 2023
692
102
116
487
429
558
115
2,498
Additions
439
9
131
1,015
185
81
5
1,865
Utilizations
(507)
(15)
(127)
(477)
(124)
(76)
(9)
(1,336)
Releases
(15)
-
(26)
(28)
(35)
(5)
(3)
(113)
Accretion
-
5
-
38
(1)
-
3
45
Changes in discount rate
-
(7)
-
-
-
-
-
(8)
Translation differences and other
(24)
4
(1)
44
(8)
2
3
21
Total change
(107)
(5)
(23)
592
16
3
(2)
474
Product warranty
Environmental
Restructuring-
related
Legal
Other
Post-employment
benefits
Contingent
consideration
Total
Current
522
20
77
1,066
229
-
61
1,977
Non-current
63
76
16
13
216
560
52
996
Balance as of December 31, 2024
585
96
94
1,079
446
560
113
2,972
Additions
328
7
169
15
116
66
4
706
Utilizations
(385)
(14)
(124)
(1,047)
(166)
(85)
(1)
(1,821)
Releases
(32)
-
(46)
(8)
(26)
-
(2)
(114)
Accretion
-
4
-
1
-
-
1
7
Translation differences and other
(39)
(11)
(4)
(9)
(33)
(22)
(5)
(123)
Total change
(129)
(13)
(4)
(1,048)
(109)
(40)
(3)
(1,345)
Current
373
19
84
18
140
-
77
712
Non-current
83
64
5
12
196
520
34
915
Balance as of December 31, 2025
456
83
90
31
337
520
111
1,627
Contingent consideration
There is no material movement in 2025 and approximately EUR 32 million of the non-current amount is
expected to be utilized after three years. These amounts relate to previous acquisitions in 2018 and 2022.
28Fair value of financial assets and liabilities
The accompanying table shows the carrying amounts and fair values of financial assets and financial liabilities,
including their levels in the fair value hierarchy. Fair value information for financial assets and financial
liabilities not carried at fair value is not included if the carrying amount is a reasonable approximation of fair
value. For cash and cash equivalents, loans and receivables, accounts payable, interest accrual and debt
(excluding bonds and leases), the carrying amounts approximate fair value because of the nature of these
instruments (including maturity and interest conditions) and therefore estimated fair value information is not
included.
Philips Group
Fair value of financial assets and liabilities in millions of EUR\u00a0
as of December 31,
2025
2024
Carrying amount
Estimated fair value
Level 1
Level 2
Level 3
Carrying amount
Estimated fair value
Financial assets
Carried at fair value:
Debt instruments
302
302
302
231
231
Equity instruments
2
2
2
3
3
Other financial assets
76
76
53
23
54
54
Financial assets carried at FVTP&L
380
380
53
328
288
288
Debt instruments
8
8
8
21
21
Equity instruments
213
213
2
212
222
222
Current financial assets
-
-
-
2
2
Receivables - current
13
13
13
-
-
Receivables - non-current
17
17
17
Financial assets carried at FVTOCI
252
252
2
38
212
244
244
Derivative financial instruments
99
99
82
17
77
77
Financial assets carried at fair value
731
731
2
173
556
609
609
Carried at (amortized) cost:
Cash and cash equivalents
2,794
2,401
Loans and receivables:
Other non-current loans and receivables
103
102
Receivables - current
3,517
3,672
Receivables - non-current
193
208
Financial assets carried at (amortized) cost
6,607
6,382
Total financial assets
7,338
6,992
Financial liabilities
Carried at fair value:
Contingent consideration
(111)
(111)
(111)
(113)
(113)
Financial liabilities carried at FVTP&L
(111)
(111)
(111)
(113)
(113)
Derivative financial instruments
(39)
(39)
(39)
(63)
(63)
Financial liabilities carried at fair value
(149)
(149)
(39)
(111)
(176)
(176)
Carried at (amortized) cost:
Accounts payable
(1,927)
(1,830)
Interest accrual
(95)
(83)
Debt (Corporate bonds and leases)
(7,757)
(7,818)
(6,854)
(963)
(7,397)
(7,363)
Debt (excluding corporate bonds and leases)
(327)
(241)
Financial liabilities carried at (amortized) cost
(10,107)
(9,551)
Total financial liabilities
(10,257)
(9,728)
Offsetting and master netting agreements
Transactions in derivatives are subject to master netting and set-off agreements. In the case of certain
termination events, under the terms of the master agreement, Philips can terminate the outstanding
transactions and aggregate their positive and negative values to arrive at a single net termination sum (or
close-out amount). This contractual right is subject to the following:
\u2022 The right may be limited by local law if the counterparty is subject to bankruptcy proceedings.
\u2022 The right applies on a bilateral basis.
Philips Group
Financial assets subject to offsetting, enforceable master netting arrangements or similar agreements in millions of EUR
2025
2024
Derivatives
Gross amounts of recognized financial assets
82
72
Gross amounts of recognized financial liabilities offset in the balance sheet
Net amounts of financial assets presented in the balance sheet
82
72
Related amounts not offset in the balance sheet
Financial instruments
(32)
(45)
Net amount
51
27
Philips Group
Financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements in millions of EUR
2025
2024
Derivatives
Gross amounts of recognized financial liabilities
(39)
(63)
Gross amounts of recognized financial assets offset in the balance sheet
Net amounts of financial liabilities presented in the balance sheet
(39)
(63)
Related amounts not offset in the balance sheet
Financial instruments
32
45
Net amount
(7)
(18)
29Details of treasury and other financial risks
\"Icon_Accounting
Accounting policies
Derivative financial instruments, including hedge accounting
The company uses derivative financial instruments principally to manage its foreign currency risks and, to a
more limited extent, interest rate and commodity price risks. All derivative financial instruments are
accounted for at the trade date and classified as current or non-current assets or liabilities based on the
maturity date or the early termination date. The company measures all derivative financial instruments at fair
value that is derived from the market prices of the instruments, calculated on the basis of the present value of
the estimated future cash flows based on observable interest yield curves, basis spread, credit spreads and
foreign exchange rates, or derived from option pricing models, as appropriate. Gains or losses arising from
changes in fair value of derivatives are recognized in the Consolidated statements of income, except for
derivatives that are highly effective and qualify for cash flow or net investment hedge accounting.
Changes in the fair value of a derivative that is highly effective and that is designated and qualifies as a cash
flow hedge are recorded in other comprehensive income (OCI) until the Consolidated statements of income
are affected by the variability in cash flows of the designated hedged item. To the extent that the hedge is
ineffective, changes in the fair value are recognized in the Consolidated statements of income.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognized in
the Consolidated statements of income, together with any changes in the fair value of the hedged asset or
liability that are attributable to the hedged risk. The gain or loss relating to the effective portion of interest
rate swaps hedging fixed-rate borrowings is recognized in the Consolidated statements of income, together
with changes in the fair value of the hedged fixed-rate borrowings attributable to interest rate risk.\u00a0If the
hedge no longer meets the criteria for hedge accounting, the adjustment to the carrying amount of a hedged
item for which the effective interest rate method is used is amortized to profit or loss over the period to
maturity using a recalculated effective interest rate.
The company formally assesses, both at the hedge\u2019s inception and on an ongoing basis, whether the
derivatives that are used in hedging transactions are highly effective in offsetting changes in fair values or
cash flows of hedged items. When it is established that a derivative is not highly effective as a hedge or that it
has ceased to be a highly effective hedge, the company discontinues hedge accounting prospectively. When
hedge accounting is discontinued because a forecasted transaction is expected not to occur, the company
continues to carry the derivative on the Consolidated balance sheets at its fair value, and gains and losses that
were accumulated in OCI are recognized immediately in the same line item as they relate to in the
Consolidated statements of income.
Foreign currency differences arising upon retranslation of financial instruments designated as a hedge of a
net investment in a foreign operation are recognized directly in the currency translation differences reserve
through OCI, to the extent that the hedge is effective. To the extent that the hedge is ineffective, such
differences are recognized in the Consolidated statements of income.
Currency risk
Currency risk is the risk that reported financial performance or the fair value or future cash flows of a financial
instrument will fluctuate because of changes in foreign exchange rates. Philips operates in many countries
and currencies and therefore currency fluctuations may impact Philips\u2019 financial results. Philips is exposed to
currency risk in the following areas:
\u2022 transaction exposures, related to anticipated sales and purchases and on-balance-sheet receivables/payables
resulting from such transactions
\u2022 translation exposure of foreign-currency intercompany and external debt and deposits
\u2022 translation exposure of net income in foreign entities
\u2022 translation exposure of foreign-currency-denominated equity invested in consolidated companies
\u2022 translation exposure to equity interests in non-functional-currency investments in associates and other non-
current financial assets
It is Philips\u2019 policy to reduce the potential year-on-year volatility caused by foreign-currency movements on its
net earnings by hedging the anticipated net exposure of foreign currencies resulting from foreign-currency
sales and purchases. In general, net anticipated exposures for the Group are hedged during a period of 15
months in layers of 8% up to a maximum hedge ratio based on an FX VaR Efficient Frontier. The FX VaR
Efficient Frontier model determines the target hedge ratios per currency quantifying the VaR reduction in
relation to the cost associated with hedging. Philips\u2019 policy requires significant committed foreign currency
exposures to be fully hedged, generally using forwards. However, not every foreign currency can or shall be
hedged as there may be regulatory barriers or prohibitive hedging cost preventing Philips from effectively
and/or efficiently hedging its currency exposures. As a result, hedging activities cannot and will not eliminate
all currency risks for anticipated and committed transaction exposures.
The accompanying table outlines the estimated nominal value in millions of EUR for committed and
anticipated transaction exposure and related hedges for Philips\u2019 most significant currency exposures
consolidated as of December\u00a031, 2025.
Philips Group
Estimated transaction exposure and related hedges in millions of EUR
Sales/Receivables
Purchases/Payable
Exposure
Hedges
Exposure
Hedges
Balance as of December 31, 2025
Exposure currency
USD
1,814
(1,526)
(1,127)
1,023
JPY
600
(354)
(6)
6
GBP
259
(173)
(10)
10
CNY
304
(267)
(177)
177
PLN
53
(32)
(2)
2
CAD
260
(159)
AUD
160
(98)
CHF
154
(105)
(1)
1
KRW
143
(85)
ILS
5
(3)
(206)
128
EUR
187
(186)
(178)
178
Others
165
(112)
(70)
37
Total 2025
4,104
(3,100)
(1,777)
1,562
Total 2024
4,420
(3,188)
(1,743)
1,543
Philips uses foreign exchange spot and forward contracts, as well as zero cost collars in hedging the exposure.
The derivatives related to transactions are, for hedge accounting purposes, split into hedges of on-balance-
sheet accounts receivable/payable and forecasted sales and purchases. Changes in the value of on-balance-
sheet foreign-currency accounts receivable/payable, as well as the changes in the fair value of the hedges
related to these exposures, are reported in the income statement under costs of sales. Hedges related to
forecasted transactions, where hedge accounting is applied, are accounted for as cash flow hedges. The
results from such hedges are deferred in other comprehensive income within equity to the extent that the
hedge is effective.
As of December\u00a031, 2025, a gain of EUR 33 million was deferred in equity as a result of these hedges (2024:
EUR 1 million gain). The result deferred in equity will be released to earnings mostly during 2026 at the time
when the related hedged transactions affect the income statement. During 2025, EUR 0.5 million (2024: nil)
was recorded in the consolidated statement of income as a result of ineffectiveness on certain anticipated
cash flow hedges. Ineffectiveness arises when anticipated exposures are no longer expected to be highly
probable. During 2025, a gain of EUR 29 million (2024: EUR 29 million gain) included in the cash flow hedges
reserve in equity pertaining to changes in fair value of foreign exchange forward and option contracts was
released to the income statement.
The total net fair value of hedges related to transaction exposure as of December\u00a031, 2025, was an unrealized
gain of EUR 47 million. The estimated impact of a 10% increase of value of the EUR is estimated to be EUR
104 million. The accompanying table contains an overview of the instantaneous 10% increase in the value of
EUR against major currencies.
Philips Group
Estimated impact of 10% increase of value of the EUR on the fair value of hedges in millions of EUR
2025
2024
USD
59
63
JPY
19
13
GBP
10
13
CHF
10
7
The EUR 104 million increase includes a gain of EUR 48 million that would impact the income statement,
which would largely offset the opposite revaluation effect on the underlying accounts receivable and payable,
and the remaining gain of EUR 55 million would be recognized in equity to the extent that the cash flow
hedges were effective.
Foreign exchange exposure also arises as a result of inter-company loans and deposits. Where the company
enters into such arrangements, the financing is generally provided in the functional currency of the subsidiary
entity. The currency of the company\u2019s external funding and liquid assets is matched with the required
financing of subsidiaries, either directly through external foreign currency loans and deposits, or synthetically
by using foreign exchange derivatives, including cross currency interest rate swaps and foreign exchange
forward contracts. In certain cases where group companies may also have external foreign currency debt or
liquid assets, these exposures are also hedged through the use of foreign exchange derivatives. Changes in
the fair value of hedges related to this exposure are recognized within financial income and expenses in the
statements of income. When such loans would be considered part of the net investment in the subsidiary, net
investment hedging would be applied.
Translation exposure of foreign-currency equity invested in consolidated entities is generally not hedged. If a
hedge is entered into, it is accounted for as a net investment hedge. Net current-period change, before tax, of
the currency translation reserve of negative EUR 1,641 million mainly relates to the development of the USD
versus the EUR. As of December\u00a031, 2025, a weakening of USD by 10% versus the EUR would result in a
decrease in the currency translation reserve in equity of approximately EUR 1,012 million, while a
strengthening of USD by 10% versus the EUR would result in an increase in the currency translation reserve in
equity of approximately EUR 1,236 million. Refer to the country risk section for countries with significant
foreign currency denominated equity invested.
As of December\u00a031, 2025, external bond funding for a book value of USD 1,331 million (EUR 1,135 million)
was designated as a net investment hedge of financing investments in foreign operations for an equal
amount (2024: USD 1,466 million (EUR 1,408 million)). During 2025, a gain of EUR 151 million was recognized
in currency translation differences within the consolidated statements of comprehensive income (2024: loss of
EUR 82 million). During 2025, no ineffectiveness was recognized in the income statement on net investment
hedges arising from counterparty and own credit risk (2024: no ineffectiveness).
As of December\u00a031, 2025, an instantaneous 10% increase in the value of the EUR against all currencies would
lead to an decrease of EUR 26 million in the value of the derivatives, including a EUR 1 million increase related
to the US dollar (2024: EUR 106 million, including a EUR 50 million decrease related to the US dollar).
Generally Philips does not hedge the foreign exchange exposure arising from equity interests in non-
functional-currency investments in associates and other non-current financial assets.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-746": { "value": "
13Other financial assets
\"Icon_Accounting
Accounting policies
Classification and measurement of financial assets
The company applies IFRS 9 in classifying and measuring financial assets. Classification and measurement
depend on the characteristics of the financial asset\u2019s contractual cash flows and the company\u2019s business model
for managing the assets.
The company initially measures a financial asset at its fair value plus, in the case of financial assets other than
those designated at fair value through profit or loss, transaction costs.
28Fair value of financial assets and liabilities
\"Icon_Accounting
Accounting policies
Fair value hierarchy
For financial reporting purposes, financial instruments are categorized into Level 1, 2 or 3, based on the
degree to which the inputs to the fair value measurements are observable and the significance of the inputs
to the fair value measurement in its entirety, which are as follows:
\u2022 Level 1: inputs are quoted prices (unadjusted) for identical assets or liabilities in active markets that the
company can access at the measurement date
\u2022 Level 2: all significant inputs (other than quoted prices included within Level 1) are observable for the asset
or liability, either directly (as prices) or indirectly (derived from prices)
\u2022 Level 3: one or more of the significant inputs are not based on observable market data, such as third-party
pricing information without adjustments, for the asset or liability
Transfers between Level 1, Level 2, and Level 3 of the fair value hierarchy are recognized at the end of the
reporting period in which the change occurred. Transfers are made when there is a change in the
observability of inputs, such as:
\u2022 Into Level 1: When quoted prices in active markets become available.
\u2022 Out of Level 1: When quoted prices are no longer available or markets become inactive.
\u2022 Into or out of Level 3: When significant inputs become observable or unobservable.
There were no transfers between levels during the years ended December 31, 2025, and December 31, 2024.
29Details of treasury and other financial risks
\"Icon_Accounting
Accounting policies
Derivative financial instruments, including hedge accounting
The company uses derivative financial instruments principally to manage its foreign currency risks and, to a
more limited extent, interest rate and commodity price risks. All derivative financial instruments are
accounted for at the trade date and classified as current or non-current assets or liabilities based on the
maturity date or the early termination date. The company measures all derivative financial instruments at fair
value that is derived from the market prices of the instruments, calculated on the basis of the present value of
the estimated future cash flows based on observable interest yield curves, basis spread, credit spreads and
foreign exchange rates, or derived from option pricing models, as appropriate. Gains or losses arising from
changes in fair value of derivatives are recognized in the Consolidated statements of income, except for
derivatives that are highly effective and qualify for cash flow or net investment hedge accounting.
Changes in the fair value of a derivative that is highly effective and that is designated and qualifies as a cash
flow hedge are recorded in other comprehensive income (OCI) until the Consolidated statements of income
are affected by the variability in cash flows of the designated hedged item. To the extent that the hedge is
ineffective, changes in the fair value are recognized in the Consolidated statements of income.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognized in
the Consolidated statements of income, together with any changes in the fair value of the hedged asset or
liability that are attributable to the hedged risk. The gain or loss relating to the effective portion of interest
rate swaps hedging fixed-rate borrowings is recognized in the Consolidated statements of income, together
with changes in the fair value of the hedged fixed-rate borrowings attributable to interest rate risk.\u00a0If the
hedge no longer meets the criteria for hedge accounting, the adjustment to the carrying amount of a hedged
item for which the effective interest rate method is used is amortized to profit or loss over the period to
maturity using a recalculated effective interest rate.
The company formally assesses, both at the hedge\u2019s inception and on an ongoing basis, whether the
derivatives that are used in hedging transactions are highly effective in offsetting changes in fair values or
cash flows of hedged items. When it is established that a derivative is not highly effective as a hedge or that it
has ceased to be a highly effective hedge, the company discontinues hedge accounting prospectively. When
hedge accounting is discontinued because a forecasted transaction is expected not to occur, the company
continues to carry the derivative on the Consolidated balance sheets at its fair value, and gains and losses that
were accumulated in OCI are recognized immediately in the same line item as they relate to in the
Consolidated statements of income.
Foreign currency differences arising upon retranslation of financial instruments designated as a hedge of a
net investment in a foreign operation are recognized directly in the currency translation differences reserve
through OCI, to the extent that the hedge is effective. To the extent that the hedge is ineffective, such
differences are recognized in the Consolidated statements of income.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-745": { "value": "
13Other financial assets
\"Icon_Accounting
Accounting policies
Impairment of financial assets
The company recognizes a loss allowance for expected credit losses (ECL) for trade receivables, contract assets,
lease receivables, and debt instruments measured at amortized cost or at FVTOCI.
At each reporting date, the company assesses the credit risk of its financial assets. If, at the reporting date, the
credit risk on a debt instrument has not increased significantly since initial recognition, the company measures
the loss allowance for the financial asset at an amount equal to 12 months of expected credit losses. If, at the
reporting date, the credit risk on a debt instrument has increased significantly since initial recognition, the
company measures the loss allowance for the financial asset at an amount equal to the lifetime-expected
credit losses. For all trade receivables, contract assets and lease receivables the company measures the loss
allowance at an amount equal to lifetime-expected credit losses.
Financial assets classified at amortized cost and at fair value through OCI are subject to impairment
assessment. The calculation of expected credit losses requires the company to apply significant judgment and
make estimates and assumptions that involve significant uncertainty at the time they are made. Changes to
these estimates and assumptions can result in significant changes to the timing and amount of expected credit
losses to be recognized.
16Receivables
\"Icon_Accounting
Accounting policies
Receivables are initially measured at fair value and are subsequently measured at amortized cost if held
within a business model with the objective to collect the contractual cash flows, or at fair value through OCI if
held within a business model with the objective of both holding to collect contractual cash flows and selling.
Receivables are measured less any impairment losses.
Receivables are de-recognized when the company has transferred substantially all risks and rewards, which
includes transactions in which the company enters into factoring transactions, or if the company does not
retain control over the receivables.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-744": { "value": "
13Other financial assets
\"Icon_Accounting
Accounting policies
Impairment of financial assets
The company recognizes a loss allowance for expected credit losses (ECL) for trade receivables, contract assets,
lease receivables, and debt instruments measured at amortized cost or at FVTOCI.
At each reporting date, the company assesses the credit risk of its financial assets. If, at the reporting date, the
credit risk on a debt instrument has not increased significantly since initial recognition, the company measures
the loss allowance for the financial asset at an amount equal to 12 months of expected credit losses. If, at the
reporting date, the credit risk on a debt instrument has increased significantly since initial recognition, the
company measures the loss allowance for the financial asset at an amount equal to the lifetime-expected
credit losses. For all trade receivables, contract assets and lease receivables the company measures the loss
allowance at an amount equal to lifetime-expected credit losses.
16Receivables
The aging analysis of trade accounts receivable, net, representing current and overdue but not fully impaired
receivables, is presented in the accompanying table.
Philips Group
Aging analysis in millions of EUR
2025
2024
Current
3,077
3,154
Overdue 1-30 days
54
141
Overdue 31-180 days
171
194
Overdue more than 180 days
37
24
Trade accounts receivable, net
3,339
3,513
The changes in the allowance for doubtful accounts receivable are:
Philips Group
Allowance for accounts receivable in millions of EUR
2025
2024
Balance as of January 1
245
216
Additions charged to expense
37
112
Deductions from allowance \u00b9
(45)
(88)
Transfer to assets held for sale
(1)
-
Other movements
(43)
5
Balance as of December 31
193
245
1Write-offs for which an allowance was previously provided.
The allowance for doubtful accounts receivable has been established for expected credit losses and is related
primarily to receivables that are past due. The allowance presented also includes the allowance for Non-
current customer finance receivables of EUR 1 million (2024: EUR 8 million). Other movements in the current
period primarily relate to the reclassification of a provision for contractual allowances for certain Connected
Care receivables, as well as the impact of foreign currency remeasurement.
Included in the above balances as of December\u00a031, 2025, are allowances for individually impaired receivables
of EUR 189 million (2024: EUR 239 million", "dimensions": { "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-753": { "value": "
13Other financial assets
Impairment of financial assets
The company recognizes a loss allowance for expected credit losses (ECL) for trade receivables, contract assets,
lease receivables, and debt instruments measured at amortized cost or at FVTOCI.
At each reporting date, the company assesses the credit risk of its financial assets. If, at the reporting date, the
credit risk on a debt instrument has not increased significantly since initial recognition, the company measures
the loss allowance for the financial asset at an amount equal to 12 months of expected credit losses. If, at the
reporting date, the credit risk on a debt instrument has increased significantly since initial recognition, the
company measures the loss allowance for the financial asset at an amount equal to the lifetime-expected
credit losses. For all trade receivables, contract assets and lease receivables the company measures the loss
allowance at an amount equal to lifetime-expected credit losses.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-752": { "value": "
13Other financial assets
Impairment of financial assets
The company recognizes a loss allowance for expected credit losses (ECL) for trade receivables, contract assets,
lease receivables, and debt instruments measured at amortized cost or at FVTOCI.
At each reporting date, the company assesses the credit risk of its financial assets. If, at the reporting date, the
credit risk on a debt instrument has not increased significantly since initial recognition, the company measures
the loss allowance for the financial asset at an amount equal to 12 months of expected credit losses. If, at the
reporting date, the credit risk on a debt instrument has increased significantly since initial recognition, the
company measures the loss allowance for the financial asset at an amount equal to the lifetime-expected
credit losses. For all trade receivables, contract assets and lease receivables the company measures the loss
allowance at an amount equal to lifetime-expected credit losses.
16Receivables
\"Icon_Accounting
Accounting policies
Receivables are initially measured at fair value and are subsequently measured at amortized cost if held
within a business model with the objective to collect the contractual cash flows, or at fair value through OCI if
held within a business model with the objective of both holding to collect contractual cash flows and selling.
Receivables are measured less any impairment losses.
Receivables are de-recognized when the company has transferred substantially all risks and rewards, which
includes transactions in which the company enters into factoring transactions, or if the company does not
retain control over the receivables.
\"Icon_Accounting
Accounting estimates
Receivables are subject to impairment assessment, which involves estimating expected credit losses. Refer to
Other financial assets for accounting policies on impairment of financial assets.
Non-current receivables
Non-current receivables are associated mainly with customer financing in the Diagnosis & Treatment segment
amounting (net of allowance) to EUR 84 million (2024 : EUR 81 million ), insurance receivables in the US
amounting to EUR 28 million (2024: EUR 33 million) and income tax receivables amounting to EUR 19 million
(2024: EUR 36 million).
Philips has leasing activities where it acts as lessor. In such arrangements, Philips provides the customer with a
right to use of medical equipment in exchange for a series of payments. Residual values of assets under lease
form an insignificant part of the carrying amount of those assets. Residual values are influenced by asset
market prices and are therefore subject to management estimation. Residual values are at least reassessed on
an annual basis, or more often when necessary. Reassessments are based on a combination of realization of
assets sold, expert knowledge and judgment of local markets. In order to reduce residual value risk exposures
there may be residual value guarantees or purchase options embedded in the customer contract. Credit risk
for lease receivables is reviewed regularly and mitigated, for example, by retaining a security interest in the
leased asset.
The accompanying table sets out a maturity analysis of lease receivables, showing the undiscounted lease
payments to be received after the reporting date.
Philips Group
Maturity analysis of lease receivables in millions EUR
2025
2024
Less than one year
55
33
One to two years
11
20
Two to three years
9
16
Three to four years
8
14
Four to five years
7
12
Over five years
17
19
Total undiscounted lease payments receivable
106
114
Unearned finance income
(10)
(12)
Net investment in lease
96
102
Current receivables
Current receivables of EUR 3,530 million (2024: EUR 3,672 million ) as of December\u00a031, 2025, included trade
accounts receivable (net of allowance) of EUR 3,339 million (2024: EUR 3,513 million ), accounts receivable
other of EUR 173 million (2024: EUR 134 million), and accounts receivable from investments in associates of
EUR 19 million (2024: EUR 25 million).
The trade accounts receivable, net, per segment are:
Philips Group
Trade accounts receivable, net in millions of EUR
2025
2024
Diagnosis & Treatment
1,582
1,687
Connected Care
1,043
1,064
Personal Health
562
575
Other
152
187
Trade accounts receivable, net
3,339
3,513
The aging analysis of trade accounts receivable, net, representing current and overdue but not fully impaired
receivables, is presented in the accompanying table.
Philips Group
Aging analysis in millions of EUR
2025
2024
Current
3,077
3,154
Overdue 1-30 days
54
141
Overdue 31-180 days
171
194
Overdue more than 180 days
37
24
Trade accounts receivable, net
3,339
3,513
The changes in the allowance for doubtful accounts receivable are:
Philips Group
Allowance for accounts receivable in millions of EUR
2025
2024
Balance as of January 1
245
216
Additions charged to expense
37
112
Deductions from allowance \u00b9
(45)
(88)
Transfer to assets held for sale
(1)
-
Other movements
(43)
5
Balance as of December 31
193
245
1Write-offs for which an allowance was previously provided.
The allowance for doubtful accounts receivable has been established for expected credit losses and is related
primarily to receivables that are past due. The allowance presented also includes the allowance for Non-
current customer finance receivables of EUR 1 million (2024: EUR 8 million). Other movements in the current
period primarily relate to the reclassification of a provision for contractual allowances for certain Connected
Care receivables, as well as the impact of foreign currency remeasurement.
Included in the above balances as of December\u00a031, 2025, are allowances for individually impaired receivables
of EUR 189 million (2024: EUR 239 million", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-756": { "value": "
14Other assets
\"Icon_Accounting
Accounting policies
The company recognizes contract assets for revenue earned from installation services because the receipt of
consideration is conditional on successful completion of the installation. Upon completion of the installation
and acceptance by the customer, the amount recognized as contract assets is reclassified to trade receivables.
Other assets are measured at amortized cost minus any impairment losses.
Other non-current assets
Other non-current assets as of December\u00a031, 2025 , were EUR 119 million (2024 : EUR 127 million ), mainly
include prepaid expenses.
Other current assets
Other current assets as of December\u00a031, 2025 , totaled EUR 529 million (2024: EUR 588 million ), primarily
contract assets of EUR 354 million (2024 : EUR 349 million ) and prepaid expenses of EUR 180 million (2024: EUR
238 million ) mainly related to Other, Diagnosis & Treatment and Connected Care segments.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-755": { "value": "
14Other assets
\"Icon_Accounting
Accounting policies
The company recognizes contract assets for revenue earned from installation services because the receipt of
consideration is conditional on successful completion of the installation. Upon completion of the installation
and acceptance by the customer, the amount recognized as contract assets is reclassified to trade receivables.
Other assets are measured at amortized cost minus any impairment losses.
Other non-current assets
Other non-current assets as of December\u00a031, 2025 , were EUR 119 million (2024 : EUR 127 million ), mainly
include prepaid expenses.
Other current assets
Other current assets as of December\u00a031, 2025 , totaled EUR 529 million (2024: EUR 588 million ), primarily
contract assets of EUR 354 million (2024 : EUR 349 million ) and prepaid expenses of EUR 180 million (2024: EUR
238 million ) mainly related to Other, Diagnosis & Treatment and Connected Care segments.
", "dimensions": { "concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-754": { "value": "
14Other assets
\"Icon_Accounting
Accounting policies
The company recognizes contract assets for revenue earned from installation services because the receipt of
consideration is conditional on successful completion of the installation. Upon completion of the installation
and acceptance by the customer, the amount recognized as contract assets is reclassified to trade receivables.
Other assets are measured at amortized cost minus any impairment losses.
Other non-current assets
Other non-current assets as of December\u00a031, 2025 , were EUR 119 million (2024 : EUR 127 million ), mainly
include prepaid expenses.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-757": { "value": "
14Other assets
\"Icon_Accounting
Accounting policies
The company recognizes contract assets for revenue earned from installation services because the receipt of
consideration is conditional on successful completion of the installation. Upon completion of the installation
and acceptance by the customer, the amount recognized as contract assets is reclassified to trade receivables.
Other assets are measured at amortized cost minus any impairment losses.
Other current assets
Other current assets as of December\u00a031, 2025 , totaled EUR 529 million (2024: EUR 588 million ), primarily
contract assets of EUR 354 million (2024 : EUR 349 million ) and prepaid expenses of EUR 180 million (2024: EUR
238 million ) mainly related to Other, Diagnosis & Treatment and Connected Care segments.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-759": { "value": "
15Inventories
\"Icon_Accounting
Accounting policies
Inventories are stated at the lower of cost or net realizable value. The cost of inventories comprises all costs of
purchase, costs of conversion and other costs incurred in bringing the inventories to their present location and
condition. The costs of conversion of inventories include direct labor and fixed and variable production
overheads, considering the stage of completion and the normal capacity of production facilities. Costs of idle
facility and abnormal waste are expensed. The cost of inventories is determined using the first-in, first-out
(FIFO) method. The write-down of inventories to net realizable value is included in cost of sales.
\"Icon_Accounting
Accounting estimates and judgments
Inventory is reduced for the estimated losses due to obsolescence. This reduction is determined for groups of
products based on sales in the recent past and/or expected future demand.
Inventories are summarized in the accompanying table.
Philips Group
Inventories in millions of EUR
2025
2024
Raw materials and supplies
1,175
1,344
Work in process
408
414
Finished goods
1,287
1,439
Inventories
2,870
3,198
In 2025 , total inventories decreased by EUR 328 million, mainly in raw materials and supplies and finished
goods. The write-down of inventories to net realizable value was EUR 154 million in 2025 and EUR 230 million
in 2024", "dimensions": { "concept": "ifrs-full:DisclosureOfInventoriesExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-758": { "value": "
15Inventories
\"Icon_Accounting
Accounting policies
Inventories are stated at the lower of cost or net realizable value. The cost of inventories comprises all costs of
purchase, costs of conversion and other costs incurred in bringing the inventories to their present location and
condition. The costs of conversion of inventories include direct labor and fixed and variable production
overheads, considering the stage of completion and the normal capacity of production facilities. Costs of idle
facility and abnormal waste are expensed. The cost of inventories is determined using the first-in, first-out
(FIFO) method. The write-down of inventories to net realizable value is included in cost of sales.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-760": { "value": "
16Receivables
\"Icon_Accounting
Accounting policies
Receivables are de-recognized when the company has transferred substantially all risks and rewards, which
includes transactions in which the company enters into factoring transactions, or if the company does not
retain control over the receivables.
18Debt
\"Icon_Accounting
Accounting policies
Debt
Debt is initially measured at fair value net of directly attributable transaction costs. Subsequently, debt is
measured at amortized cost using the effective interest rate method. Amortized cost is calculated by taking
into account any discount or premium on acquisition and fees or costs that are an integral part of the
effective interest rate. Debt is derecognized when the obligation under the liability is discharged, cancelled or
has expired.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-767": { "value": "
17Equity
\"Icon_Accounting
Accounting policies
Common shares are classified as equity. Incremental costs directly attributable to the issuance of shares are
recognized as a deduction from equity. Where the company repurchases the company\u2019s equity share capital
(treasury shares), the consideration paid, including any directly attributable incremental transaction costs (net
of income taxes), is deducted from shareholders\u2019 equity until such treasury shares are cancelled or reissued.
Where such treasury shares are subsequently reissued, any consideration received, net of any directly
attributable incremental transaction costs and the related income tax effects, is included in shareholders\u2019
equity.
Call options on own shares are treated as equity instruments.
Dividends are recognized as a liability in the period in which they are declared and approved by shareholders.
The income tax consequences of dividends are recognized when a liability to pay the dividend is recognized.
Common shares
As of December\u00a031, 2025 , authorized common shares consist of 2 billion shares (December\u00a031, 2024 : 2 billion ;
December\u00a031, 2023 : 2 billion ), and the issued and fully paid share capital consists of 962,920,132 common
shares, each share having a par value of EUR 0.20 (December\u00a031, 2024 : 939,939,384 ; December\u00a031, 2023 :
913,515,966).
Preference shares
As a means to protect the company against (an attempt at) an unsolicited takeover or other attempt to exert
(de facto) control of the company, the \u2018Stichting Preferente Aandelen Philips\u2019 has been granted the right to
acquire preference shares in the company. It may exercise this right for as many preference shares as there are
common shares in the company outstanding at that time. As of December\u00a031, 2025 , no such right has been
exercised and no preference shares have been issued. Authorized preference shares consist of 2 billion shares
as of December\u00a031, 2025 (December\u00a031, 2024 : 2 billion; December\u00a031, 2023 : 2 billion).
Options, restricted and performance shares
Under its share-based compensation plans, the company granted stock options on its common shares and
other conditional rights to receive common shares in the future, such as restricted shares and performance
shares (refer to Share-based compensation).
Treasury shares
In connection with the company\u2019s share repurchase programs, shares that have been repurchased and are
held in Treasury for the purpose of (i) delivery under share-based compensation plans upon exercise of
options, or vesting of restricted or performance shares, and (ii) capital reduction, are accounted for as a
reduction of shareholders\u2019 equity. Treasury shares are recorded at cost, representing the market price on the
acquisition date. When treasury shares are delivered by the company under its share-based compensation
plans, such shares are removed from treasury shares on a first-in, first-out (FIFO) basis.
When treasury shares are delivered by the company upon exercise of options, the difference between the cost
and the cash received is recorded in retained earnings. When treasury shares are delivered by the company
upon vesting of restricted shares or performance shares (granted under the company\u2019s share-based
compensation plans), the difference between the market price of the shares and the cost is recorded in
retained earnings, and the market price is recorded in the share-based compensation reserve.
Philips Group
Treasury share transactions and share-based compensation in millions of EUR
2025
2024
2023
Treasury shares
113
54
54
Re-issuance of treasury shares
(60)
(36)
(29)
Share-based compensation cost
141
96
88
Income tax
4
5
2
Share-based compensation reserve
85
65
61
Retained earnings
(39)
(18)
(24)
Total shareholders' equity
159
101
91
The accompanying table shows the movements in the outstanding number of shares over the last three years.
Philips Group
Outstanding number of shares
2025
2024
2023
Balance as of January 1
925,009,074
906,403,156
881,480,527
Dividend distributed
22,980,748
30,860,582
39,334,938
Purchase of treasury shares
-
(13,718,391)
(15,964,445)
Delivery of treasury shares
3,299,111
1,463,727
1,552,136
Balance as of December 31
951,288,934
925,009,074
906,403,156
The accompanying table reflects transactions that took place in relation to former and current share-based
compensation plans:
Philips Group
Transactions related to share-based compensation plans
2025
2024
2023
Shares acquired
-
9,281,227
3,000,000
Average market price
N/A
EUR 21.88
EUR 41.59
Amount paid
N/A
EUR 203 million
EUR 125 million
Shares delivered
3,299,111
1,463,727
1,552,136
Average price (FIFO)
EUR 34.31
EUR 37.14
EUR 34.59
Cost of delivered shares
EUR 113 million
EUR 54 million
EUR 54 million
Total shares in treasury at year-end
11,631,198
14,930,310
7,112,810
Total cost
EUR 298 million
EUR 411 million
EUR 262 million
Transactions that took place for capital reduction purposes:
Philips Group
Transactions related to capital reduction
2025
2024
2023
Shares acquired
-
4,437,164
12,964,445
Average market price
N/A
EUR 37.56
EUR 37.25
Amount paid
N/A
EUR 167 million
EUR 483 million
Cancellation of treasury shares (shares)
-
4,437,164
15,134,054
Cancellation of treasury shares (EUR)
N/A
EUR 167 million
EUR 566 million
Total shares in treasury at year-end
-
-
-
Total cost
-
-
-
Share purchase transactions related to employee options involved a cash inflow of EUR 13 million in 2025 . In
2025, we settled withholding tax liability for an amount of EUR 33\u00a0million relating to the dividend distribution
in 2024.
Share repurchase methods for share-based remuneration plans and capital reduction purposes
Philips uses different methods to repurchase shares in its own capital: (i) share buyback repurchases in the
open market via an intermediary; and (ii) repurchase of shares via forward contracts for future delivery of
shares. During 2025 , Philips did not repurchase any shares.
Forward contracts to repurchase shares and open market repurchases of shares
For share-based compensation plans
On June 3, 2025, Philips announced that it would repurchase up to 6\u00a0million shares to cover certain of its
obligations arising from its Long-Term Incentive plans. To this end, Philips entered into a number of forward
transactions for an amount of EUR 127\u00a0million to acquire 6\u00a0million shares with settlement dates in February
2027, November 2027 and December 2027 and a weighted forward price of EUR 21.17. This resulted in a EUR
121 million increase in retained earnings against treasury shares.
On September 15, 2025, Philips extended the settlement of two forward contracts for 2\u00a0million Long-Term
Incentive plans shares, each as part of the share repurchase program earlier announced on June 14, 2023. The
forward contract amounted to EUR 86\u00a0million with settlement date of October 2026 and November 2026 and
a weighted forward price of EUR 21.59. This resulted in a EUR 3 million increase in retained earnings against
treasury shares.
On August\u00a05, 2024, Philips announced that it would repurchase shares for an amount of up to EUR 125 million
to cover certain of its obligations arising from its Long-Term Incentive plans. The repurchases were executed
through a combination of open market purchases by an intermediary (in August 2024 acquiring 2.2 million
shares which resulted in a EUR 60 million increase in retained earnings against treasury shares) and one
forward contract for an amount of EUR 65 million to acquire 2.5 million shares with a settlement date in
November 2026 and a weighted average forward price of EUR 26.40.
In March, April, November and December 2024, Philips settled EUR 316\u00a0million of forward contracts. This resulted
in a EUR 316\u00a0million decrease in retained earnings.
As of December\u00a031, 2025, the remaining forward contracts to cover obligations under share-based
compensation plans related to 12.5 million shares (December\u00a031, 2024: 6.5 million shares) and amounted to
EUR 283 million (December\u00a031, 2024: EUR 142 million).
Share cancellations
There were no share cancellations in 2025.
Dividend distribution
2025
In May 2025, Philips distributed a dividend of EUR 0.85 per common share, representing a total value of EUR
789 million (including costs). Of the total dividend distribution to all shareholders, a maximum of 50% will be
available for payment in cash. If shareholders in total elect to receive an aggregate amount of cash dividend
that exceeds 50% of the total dividend amount, those shareholders who elected to receive their dividend in
cash will receive their cash dividend on a pro-rata basis, the remainder being distributed in shares. The
aggregate cash election result was 41.4%, which is below the 50% maximum as adopted in the General
Meeting of Shareholders and therefore shareholders will receive the dividend in accordance with their
election. Approximately 59% of the shareholders elected for a share dividend, resulting in the issuance of
22,980,748 new common shares.
A proposal will be submitted to the 2026 Annual General Meeting of Shareholders to pay a dividend of EUR
0.85 per common share, in shares or cash at the option of the shareholder, against retained earnings for 2025.
2024
In May 2024, Philips distributed a dividend of EUR 0.85 per common share, representing a total value of EUR
768 million (including costs). The dividend was distributed in the form of shares only, resulting in the issuance
of 30,860,582 new common shares.
2023
In May 2023, Philips distributed a dividend of EUR 0.85 per common share, representing a total value of EUR
749 million (including costs). The dividend was distributed in the form of shares only, resulting in the issuance
of 39,334,938 new common shares.
Limitations in the distribution of shareholders\u2019 equity
As of December\u00a031, 2025, pursuant to Dutch law, certain limitations exist relating to the distribution of
shareholders\u2019 equity of EUR 1,545 million. Such limitations relate to common shares of EUR 193 million, as well
as to legal reserves required by Dutch law included under retained earnings of EUR 1,005 million and
unrealized currency translation differences of EUR 347 million. The unrealized gain related to cash flow
hedges of EUR 33 million and unrealized loss related to fair value through OCI financial assets of EUR 89
million qualify as revaluation reserves and reduce the distributable amount due to the fact that these reserves
are negative.
The legal reserves required by Dutch law of EUR 1,005 million included under retained earnings relates to any
legal or economic restrictions on the ability of affiliated companies to transfer funds to the parent company in
the form of dividends.
As of December\u00a031, 2024, these limitations in distributable amounts were EUR 3,254 million and related to
common shares of EUR 188 million, as well as to legal reserves required by Dutch law included under retained
earnings of EUR 1,052 million and unrealized currency translation differences of EUR 2,014 million. The
unrealized losses related to fair value through OCI financial assets of EUR 90 million and unrealized gain
related to cash flow hedges of EUR 1 million qualify as a revaluation reserve and reduce the distributable
amount due to the fact that this reserve is negative.
Non-controlling interests
Non-controlling interests relate to minority stakes held by third parties in consolidated group companies.
", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-762": { "value": "
17Equity
\"Icon_Accounting
Accounting policies
Common shares are classified as equity. Incremental costs directly attributable to the issuance of shares are
recognized as a deduction from equity. Where the company repurchases the company\u2019s equity share capital
(treasury shares), the consideration paid, including any directly attributable incremental transaction costs (net
of income taxes), is deducted from shareholders\u2019 equity until such treasury shares are cancelled or reissued.
Where such treasury shares are subsequently reissued, any consideration received, net of any directly
attributable incremental transaction costs and the related income tax effects, is included in shareholders\u2019
equity.
Call options on own shares are treated as equity instruments.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTreasurySharesExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-761": { "value": "
17Equity
\"Icon_Accounting
Accounting policies
Common shares are classified as equity. Incremental costs directly attributable to the issuance of shares are
recognized as a deduction from equity. Where the company repurchases the company\u2019s equity share capital
(treasury shares), the consideration paid, including any directly attributable incremental transaction costs (net
of income taxes), is deducted from shareholders\u2019 equity until such treasury shares are cancelled or reissued.
Where such treasury shares are subsequently reissued, any consideration received, net of any directly
attributable incremental transaction costs and the related income tax effects, is included in shareholders\u2019
equity.
Call options on own shares are treated as equity instruments.
Treasury shares
In connection with the company\u2019s share repurchase programs, shares that have been repurchased and are
held in Treasury for the purpose of (i) delivery under share-based compensation plans upon exercise of
options, or vesting of restricted or performance shares, and (ii) capital reduction, are accounted for as a
reduction of shareholders\u2019 equity. Treasury shares are recorded at cost, representing the market price on the
acquisition date. When treasury shares are delivered by the company under its share-based compensation
plans, such shares are removed from treasury shares on a first-in, first-out (FIFO) basis.
When treasury shares are delivered by the company upon exercise of options, the difference between the cost
and the cash received is recorded in retained earnings. When treasury shares are delivered by the company
upon vesting of restricted shares or performance shares (granted under the company\u2019s share-based
compensation plans), the difference between the market price of the shares and the cost is recorded in
retained earnings, and the market price is recorded in the share-based compensation reserve.
Philips Group
Treasury share transactions and share-based compensation in millions of EUR
2025
2024
2023
Treasury shares
113
54
54
Re-issuance of treasury shares
(60)
(36)
(29)
Share-based compensation cost
141
96
88
Income tax
4
5
2
Share-based compensation reserve
85
65
61
Retained earnings
(39)
(18)
(24)
Total shareholders' equity
159
101
91
The accompanying table shows the movements in the outstanding number of shares over the last three years.
Philips Group
Outstanding number of shares
2025
2024
2023
Balance as of January 1
925,009,074
906,403,156
881,480,527
Dividend distributed
22,980,748
30,860,582
39,334,938
Purchase of treasury shares
-
(13,718,391)
(15,964,445)
Delivery of treasury shares
3,299,111
1,463,727
1,552,136
Balance as of December 31
951,288,934
925,009,074
906,403,156
The accompanying table reflects transactions that took place in relation to former and current share-based
compensation plans:
Philips Group
Transactions related to share-based compensation plans
2025
2024
2023
Shares acquired
-
9,281,227
3,000,000
Average market price
N/A
EUR 21.88
EUR 41.59
Amount paid
N/A
EUR 203 million
EUR 125 million
Shares delivered
3,299,111
1,463,727
1,552,136
Average price (FIFO)
EUR 34.31
EUR 37.14
EUR 34.59
Cost of delivered shares
EUR 113 million
EUR 54 million
EUR 54 million
Total shares in treasury at year-end
11,631,198
14,930,310
7,112,810
Total cost
EUR 298 million
EUR 411 million
EUR 262 million
Transactions that took place for capital reduction purposes:
Philips Group
Transactions related to capital reduction
2025
2024
2023
Shares acquired
-
4,437,164
12,964,445
Average market price
N/A
EUR 37.56
EUR 37.25
Amount paid
N/A
EUR 167 million
EUR 483 million
Cancellation of treasury shares (shares)
-
4,437,164
15,134,054
Cancellation of treasury shares (EUR)
N/A
EUR 167 million
EUR 566 million
Total shares in treasury at year-end
-
-
-
Total cost
-
-
-
Share purchase transactions related to employee options involved a cash inflow of EUR 13 million in 2025 . In
2025, we settled withholding tax liability for an amount of EUR 33\u00a0million relating to the dividend distribution
in 2024.
Share repurchase methods for share-based remuneration plans and capital reduction purposes
Philips uses different methods to repurchase shares in its own capital: (i) share buyback repurchases in the
open market via an intermediary; and (ii) repurchase of shares via forward contracts for future delivery of
shares. During 2025 , Philips did not repurchase any shares.
Forward contracts to repurchase shares and open market repurchases of shares
For share-based compensation plans
On June 3, 2025, Philips announced that it would repurchase up to 6\u00a0million shares to cover certain of its
obligations arising from its Long-Term Incentive plans. To this end, Philips entered into a number of forward
transactions for an amount of EUR 127\u00a0million to acquire 6\u00a0million shares with settlement dates in February
2027, November 2027 and December 2027 and a weighted forward price of EUR 21.17. This resulted in a EUR
121 million increase in retained earnings against treasury shares.
On September 15, 2025, Philips extended the settlement of two forward contracts for 2\u00a0million Long-Term
Incentive plans shares, each as part of the share repurchase program earlier announced on June 14, 2023. The
forward contract amounted to EUR 86\u00a0million with settlement date of October 2026 and November 2026 and
a weighted forward price of EUR 21.59. This resulted in a EUR 3 million increase in retained earnings against
treasury shares.
On August\u00a05, 2024, Philips announced that it would repurchase shares for an amount of up to EUR 125 million
to cover certain of its obligations arising from its Long-Term Incentive plans. The repurchases were executed
through a combination of open market purchases by an intermediary (in August 2024 acquiring 2.2 million
shares which resulted in a EUR 60 million increase in retained earnings against treasury shares) and one
forward contract for an amount of EUR 65 million to acquire 2.5 million shares with a settlement date in
November 2026 and a weighted average forward price of EUR 26.40.
In March, April, November and December 2024, Philips settled EUR 316\u00a0million of forward contracts. This resulted
in a EUR 316\u00a0million decrease in retained earnings.
As of December\u00a031, 2025, the remaining forward contracts to cover obligations under share-based
compensation plans related to 12.5 million shares (December\u00a031, 2024: 6.5 million shares) and amounted to
EUR 283 million (December\u00a031, 2024: EUR 142 million).
Share cancellations
", "dimensions": { "concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-765": { "value": "
17Equity
\"Icon_Accounting
Accounting policies
Common shares are classified as equity. Incremental costs directly attributable to the issuance of shares are
recognized as a deduction from equity. Where the company repurchases the company\u2019s equity share capital
(treasury shares), the consideration paid, including any directly attributable incremental transaction costs (net
of income taxes), is deducted from shareholders\u2019 equity until such treasury shares are cancelled or reissued.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-764": { "value": "
17Equity
\"Icon_Accounting
Accounting policies
Common shares are classified as equity. Incremental costs directly attributable to the issuance of shares are
recognized as a deduction from equity. Where the company repurchases the company\u2019s equity share capital
(treasury shares), the consideration paid, including any directly attributable incremental transaction costs (net
of income taxes), is deducted from shareholders\u2019 equity until such treasury shares are cancelled or reissued.
Common shares
As of December\u00a031, 2025 , authorized common shares consist of 2 billion shares (December\u00a031, 2024 : 2 billion ;
December\u00a031, 2023 : 2 billion ), and the issued and fully paid share capital consists of 962,920,132 common
shares, each share having a par value of EUR 0.20 (December\u00a031, 2024 : 939,939,384 ; December\u00a031, 2023 :
913,515,966).
Preference shares
As a means to protect the company against (an attempt at) an unsolicited takeover or other attempt to exert
(de facto) control of the company, the \u2018Stichting Preferente Aandelen Philips\u2019 has been granted the right to
acquire preference shares in the company. It may exercise this right for as many preference shares as there are
common shares in the company outstanding at that time. As of December\u00a031, 2025 , no such right has been
exercised and no preference shares have been issued. Authorized preference shares consist of 2 billion shares
as of December\u00a031, 2025 (December\u00a031, 2024 : 2 billion; December\u00a031, 2023 : 2 billion).
The accompanying table shows the movements in the outstanding number of shares over the last three years.
Philips Group
Outstanding number of shares
2025
2024
2023
Balance as of January 1
925,009,074
906,403,156
881,480,527
Dividend distributed
22,980,748
30,860,582
39,334,938
Purchase of treasury shares
-
(13,718,391)
(15,964,445)
Delivery of treasury shares
3,299,111
1,463,727
1,552,136
Balance as of December 31
951,288,934
925,009,074
906,403,156
", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-766": { "value": "
17Equity
\"Icon_Accounting
Accounting policies
Dividend distribution
2025
In May 2025, Philips distributed a dividend of EUR 0.85 per common share, representing a total value of EUR
789 million (including costs). Of the total dividend distribution to all shareholders, a maximum of 50% will be
available for payment in cash. If shareholders in total elect to receive an aggregate amount of cash dividend
that exceeds 50% of the total dividend amount, those shareholders who elected to receive their dividend in
cash will receive their cash dividend on a pro-rata basis, the remainder being distributed in shares. The
aggregate cash election result was 41.4%, which is below the 50% maximum as adopted in the General
Meeting of Shareholders and therefore shareholders will receive the dividend in accordance with their
election. Approximately 59% of the shareholders elected for a share dividend, resulting in the issuance of
22,980,748 new common shares.
A proposal will be submitted to the 2026 Annual General Meeting of Shareholders to pay a dividend of EUR
0.85 per common share, in shares or cash at the option of the shareholder, against retained earnings for 2025.
2024
In May 2024, Philips distributed a dividend of EUR 0.85 per common share, representing a total value of EUR
768 million (including costs). The dividend was distributed in the form of shares only, resulting in the issuance
of 30,860,582 new common shares.
2023
In May 2023, Philips distributed a dividend of EUR 0.85 per common share, representing a total value of EUR
749 million (including costs). The dividend was distributed in the form of shares only, resulting in the issuance
of 39,334,938 new common shares.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDividendsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-763": { "value": "
17Equity
\"Icon_Accounting
Accounting policies
Dividends are recognized as a liability in the period in which they are declared and approved by shareholders.
The income tax consequences of dividends are recognized when a liability to pay the dividend is recognized.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-770": { "value": "
17Equity
Limitations in the distribution of shareholders\u2019 equity
As of December\u00a031, 2025, pursuant to Dutch law, certain limitations exist relating to the distribution of
shareholders\u2019 equity of EUR 1,545 million. Such limitations relate to common shares of EUR 193 million, as well
as to legal reserves required by Dutch law included under retained earnings of EUR 1,005 million and
unrealized currency translation differences of EUR 347 million. The unrealized gain related to cash flow
hedges of EUR 33 million and unrealized loss related to fair value through OCI financial assets of EUR 89
million qualify as revaluation reserves and reduce the distributable amount due to the fact that these reserves
are negative.
The legal reserves required by Dutch law of EUR 1,005 million included under retained earnings relates to any
legal or economic restrictions on the ability of affiliated companies to transfer funds to the parent company in
the form of dividends.
As of December\u00a031, 2024, these limitations in distributable amounts were EUR 3,254 million and related to
common shares of EUR 188 million, as well as to legal reserves required by Dutch law included under retained
earnings of EUR 1,052 million and unrealized currency translation differences of EUR 2,014 million. The
unrealized losses related to fair value through OCI financial assets of EUR 90 million and unrealized gain
related to cash flow hedges of EUR 1 million qualify as a revaluation reserve and reduce the distributable
amount due to the fact that this reserve is negative.
", "dimensions": { "concept": "ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-769": { "value": "
17Equity
Capital management
Philips manages capital based upon the IFRS measures, net cash provided by operating activities and net cash
used for investing activities as well as the non-IFRS measure net debt.
Net debt is defined as the sum of long and short-term debt minus cash and cash equivalents. Group equity is
defined as the sum of shareholders\u2019 equity and non-controlling interests. This measure is used by Philips
Treasury management and investment analysts to evaluate financial strength and funding requirements. The
Philips net debt position is managed with the intention of retaining the current strong investment grade
credit rating. Furthermore, Philips\u2019 dividend policy is aimed at dividend stability and a pay-out ratio of 40% to
50% of Adjusted income from continuing operations attributable to shareholders (reconciliation to the most
directly comparable IFRS measure, Net income, is provided at the end of this note).
Philips Group
Composition of net debt and group equity in millions of EUR unless otherwise stated
2025
2024
2023
Long-term debt
6,934
7,113
7,035
Short-term debt
1,151
526
654
Total debt
8,084
7,639
7,689
Cash and cash equivalents
2,794
2,401
1,869
Net debt
5,290
5,238
5,820
Shareholders\u2019 equity
10,957
12,006
12,028
Non-controlling interests
32
37
33
Group equity
10,990
12,043
12,061
Net debt : group equity ratio
32:68
30:70
33:67
Adjusted income from continuing operations attributable to shareholders is not a recognized measure of
financial performance under IFRS. The reconciliation of Adjusted income from continuing operations
attributable to shareholders to the most directly comparable IFRS measure, Net income, is included in the
accompanying table.
Philips Group
Adjusted income from continuing operations attributable to shareholders 1 in millions of EUR
2025
2024
2023
Net income
897
(698)
(463)
Discontinued operations, net of income taxes
4
(142)
10
Income from continuing operations
901
(840)
(454)
Income from continuing operations attributable to non-
controlling interests
(1)
(3)
(2)
Income from continuing operations attributable to
shareholders \u00b9
899
(843)
(456)
Adjustments for:
Amortization and impairment of acquired intangible assets
240
392
290
Impairment of goodwill
-
-
8
Restructuring costs and acquisition-related charges
260
326
381
Other items:
270
830
1,358
Respironics litigation provision
-
984
575
Respironics insurance income
-
(538)
-
Respironics consent decree charges
97
113
363
Respironics field-action running costs
112
133
224
Contract settlement gain
(27)
-
-
Quality actions
89
123
175
Provision for a legal matter
-
-
31
Investment re-measurement loss
-
-
23
Loss (gain) on divestment of business
-
-
(35)
Remaining items
(1)
16
2
Net finance income/expenses
28
23
18
Tax impact on adjusting items \u00b2
(192)
(370)
(450)
Tax effect of derecognition of US deferred tax asset
-
941
-
Adjusted Income from continuing operations attributable
to shareholders 1
1,506
1,300
1,148
1Shareholders in this table refers to shareholders of Koninklijke Philips N.V.
2Includes deferred tax assets derecognized in the line below
", "dimensions": { "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-768": { "value": "
17Equity
Options, restricted and performance shares
Under its share-based compensation plans, the company granted stock options on its common shares and
other conditional rights to receive common shares in the future, such as restricted shares and performance
shares (refer to Share-based compensation).
Treasury shares
In connection with the company\u2019s share repurchase programs, shares that have been repurchased and are
held in Treasury for the purpose of (i) delivery under share-based compensation plans upon exercise of
options, or vesting of restricted or performance shares, and (ii) capital reduction, are accounted for as a
reduction of shareholders\u2019 equity. Treasury shares are recorded at cost, representing the market price on the
acquisition date. When treasury shares are delivered by the company under its share-based compensation
plans, such shares are removed from treasury shares on a first-in, first-out (FIFO) basis.
When treasury shares are delivered by the company upon exercise of options, the difference between the cost
and the cash received is recorded in retained earnings. When treasury shares are delivered by the company
upon vesting of restricted shares or performance shares (granted under the company\u2019s share-based
compensation plans), the difference between the market price of the shares and the cost is recorded in
retained earnings, and the market price is recorded in the share-based compensation reserve.
Philips Group
Treasury share transactions and share-based compensation in millions of EUR
2025
2024
2023
Treasury shares
113
54
54
Re-issuance of treasury shares
(60)
(36)
(29)
Share-based compensation cost
141
96
88
Income tax
4
5
2
Share-based compensation reserve
85
65
61
Retained earnings
(39)
(18)
(24)
Total shareholders' equity
159
101
91
The accompanying table shows the movements in the outstanding number of shares over the last three years.
Philips Group
Outstanding number of shares
2025
2024
2023
Balance as of January 1
925,009,074
906,403,156
881,480,527
Dividend distributed
22,980,748
30,860,582
39,334,938
Purchase of treasury shares
-
(13,718,391)
(15,964,445)
Delivery of treasury shares
3,299,111
1,463,727
1,552,136
Balance as of December 31
951,288,934
925,009,074
906,403,156
The accompanying table reflects transactions that took place in relation to former and current share-based
compensation plans:
Philips Group
Transactions related to share-based compensation plans
2025
2024
2023
Shares acquired
-
9,281,227
3,000,000
Average market price
N/A
EUR 21.88
EUR 41.59
Amount paid
N/A
EUR 203 million
EUR 125 million
Shares delivered
3,299,111
1,463,727
1,552,136
Average price (FIFO)
EUR 34.31
EUR 37.14
EUR 34.59
Cost of delivered shares
EUR 113 million
EUR 54 million
EUR 54 million
Total shares in treasury at year-end
11,631,198
14,930,310
7,112,810
Total cost
EUR 298 million
EUR 411 million
EUR 262 million
Transactions that took place for capital reduction purposes:
Philips Group
Transactions related to capital reduction
2025
2024
2023
Shares acquired
-
4,437,164
12,964,445
Average market price
N/A
EUR 37.56
EUR 37.25
Amount paid
N/A
EUR 167 million
EUR 483 million
Cancellation of treasury shares (shares)
-
4,437,164
15,134,054
Cancellation of treasury shares (EUR)
N/A
EUR 167 million
EUR 566 million
Total shares in treasury at year-end
-
-
-
Total cost
-
-
-
Share purchase transactions related to employee options involved a cash inflow of EUR 13 million in 2025 . In
2025, we settled withholding tax liability for an amount of EUR 33\u00a0million relating to the dividend distribution
in 2024.
Share repurchase methods for share-based remuneration plans and capital reduction purposes
Philips uses different methods to repurchase shares in its own capital: (i) share buyback repurchases in the
open market via an intermediary; and (ii) repurchase of shares via forward contracts for future delivery of
shares. During 2025 , Philips did not repurchase any shares.
Forward contracts to repurchase shares and open market repurchases of shares
For share-based compensation plans
On June 3, 2025, Philips announced that it would repurchase up to 6\u00a0million shares to cover certain of its
obligations arising from its Long-Term Incentive plans. To this end, Philips entered into a number of forward
transactions for an amount of EUR 127\u00a0million to acquire 6\u00a0million shares with settlement dates in February
2027, November 2027 and December 2027 and a weighted forward price of EUR 21.17. This resulted in a EUR
121 million increase in retained earnings against treasury shares.
On September 15, 2025, Philips extended the settlement of two forward contracts for 2\u00a0million Long-Term
Incentive plans shares, each as part of the share repurchase program earlier announced on June 14, 2023. The
forward contract amounted to EUR 86\u00a0million with settlement date of October 2026 and November 2026 and
a weighted forward price of EUR 21.59. This resulted in a EUR 3 million increase in retained earnings against
treasury shares.
On August\u00a05, 2024, Philips announced that it would repurchase shares for an amount of up to EUR 125 million
to cover certain of its obligations arising from its Long-Term Incentive plans. The repurchases were executed
through a combination of open market purchases by an intermediary (in August 2024 acquiring 2.2 million
shares which resulted in a EUR 60 million increase in retained earnings against treasury shares) and one
forward contract for an amount of EUR 65 million to acquire 2.5 million shares with a settlement date in
November 2026 and a weighted average forward price of EUR 26.40.
In March, April, November and December 2024, Philips settled EUR 316\u00a0million of forward contracts. This resulted
in a EUR 316\u00a0million decrease in retained earnings.
As of December\u00a031, 2025, the remaining forward contracts to cover obligations under share-based
compensation plans related to 12.5 million shares (December\u00a031, 2024: 6.5 million shares) and amounted to
EUR 283 million (December\u00a031, 2024: EUR 142 million).
26Share-based compensation
\"Icon_Accounting
Accounting policies
Philips\u2019 share-based compensation is an equity-settled plan made of restricted and performance shares. The
restricted shares are subject to a three-year service condition and the performance shares include both market
and non-market-based performance conditions, in addition to a three-year service condition. These shares are
awarded to the Executive Committee and senior management.
The grant date fair value of market-based performance shares is determined through a Monte Carlo valuation
model. The grant date fair value of non-market-based performance shares and restricted shares is determined
as the share price at the grant date as participants receive notional dividends throughout the vesting period.
The costs of share-based compensation plans are revised for expected performance (non-market-based
performance shares) and forfeiture and are spread evenly over the service period.
Share-based compensation is recognized over the service period as personnel expense in the consolidated
statement of income, with a corresponding increase to equity.
\"Icon_Accounting
Accounting estimates and judgments
The use of a valuation model to determine market-based performance share fair value requires estimates for
the expected volatility of the Philips share price and correlation among input variables.
At each reporting date, Philips calculates the expected realization of the non-market-based performance
targets and revises the expected share-based compensation expense. The cumulative effect is recorded in the
consolidated statement of income with a corresponding adjustment in equity.
No expense is recognized for awards that do not ultimately vest because non-market performance and/or
service conditions have not been met.
The purpose of the share-based compensation plans is to align the interests of management with those of
shareholders by providing incentives to improve the company\u2019s performance on a long-term basis, thereby
increasing shareholder value.
The company has the following plans:
\u2022 performance shares: rights to receive common shares in the future based on performance and service
conditions
\u2022 restricted shares: rights to receive common shares in the future based on a service condition
\u2022 options on its common shares
Since 2013 the Board of Management and other members of the Executive Committee are only granted
performance shares*. Performance shares as well as restricted shares can be granted to executives, certain
selected employees and new employees.
Under the terms of employee stock purchase plans established by the company in various countries,
employees are eligible to purchase a limited number of Philips shares at discounted prices through payroll
withholdings.
Share-based compensation costs were EUR 148 million (2024: EUR 104 million ; 2023: EUR 97 million). This
includes the employee stock purchase plan of EUR 6 million, which is not a share-based compensation that
affects equity. In the Consolidated statements of changes in equity EUR 141 million is recognized in 2025 and
represents the costs of the share-based compensation plans. The amount recognized as an expense is adjusted
for forfeitures. USD-denominated performance shares, restricted shares and options are being granted only to
employees whose home country is the US.
Performance shares
The performance is measured over a three-year performance period. The performance shares have three
performance conditions: relative Total Shareholders\u2019 Return (TSR) compared to a peer group of 20 companies
including Philips (2024: 20 companies; 2023: 20 companies); adjusted Earnings Per Share growth** (EPS); and a
sustainability criterion. The criterion is based on three Sustainable Development Goals (SDG) as defined by the
United Nations that are included in Philips\u2019 strategy on sustainability. The performance conditions are
weighted as follows: TSR 50%, EPS 40% and SDG 10% (applicable for 2021, 2022 and 2023 plans). As of 2024
the performance conditions are weighted as follows: TSR 40%, EPS 40% and SDG 20%.
The performance shares vest three years after the grant date. The number of performance shares that will
vest is dependent on achieving the performance conditions provided that the grantee is still employed with
the company.
The amount recognized as an expense is adjusted for actual performance of adjusted EPS growth** and the
actual realization of the SDGs, since these are non-market performance conditions. It is not adjusted for non-
vesting or extra vesting of performance shares due to a relative TSR performance that differs from the
performance anticipated at the grant date, since this is a market-based performance condition.
The fair value of the performance shares is measured based on Monte Carlo simulation, which takes into
account dividend payments between the grant date and the vesting date by including reinvested dividends as
well as the market conditions expected to impact relative total shareholders\u2019 return performance in relation
to selected peers. The following weighted-average assumptions were used for the 2025 grants:
\u2022 risk-free rate: 1.82%
\u2022 expected share price volatility: 38%
The assumptions were used for these calculations only and do not necessarily represent an indication of
management\u2019s expectation of future developments for other purposes. The company has based its volatility
assumptions on historical experience measured over a 10-year period.
A summary of the status of the company\u2019s performance share plans as of December\u00a031, 2025, and changes
during the year are presented in the accompanying table:
Philips Group
Performance shares
2025
2024
Number of shares
Weighted
average grant-
date fair value
Number of shares
Weighted
average grant-
date fair value
EUR-denominated
Outstanding as of January 1
6,466,838
24.41
5,392,035
27.22
Granted
1,994,246
21.94
2,265,462
28.94
Notional dividends \u00b9
269,210
24.63
218,782
24.35
Vested/Issued
(333,321)
20.73
(169,524)
50.30
Forfeited
(336,681)
24.93
(451,052)
25.07
Adjusted quantity \u00b2
(1,801,626)
20.52
(788,865)
50.65
Outstanding as of December 31
6,258,667
24.92
6,466,838
24.41
USD-denominated
Outstanding as of January 1
4,190,628
26.89
3,261,048
29.73
Granted
1,522,255
24.81
1,733,891
31.07
Notional dividends \u00b9
187,657
27.25
142,892
26.85
Vested/Issued
(166,326)
21.98
(80,151)
61.37
Forfeited
(525,643)
27.08
(489,195)
28.35
Adjusted quantity \u00b2
(942,807)
21.98
(377,857)
61.37
Outstanding as of December 31
4,265,764
27.42
4,190,628
26.89
1Dividend declared in 2025 on outstanding shares.
2Adjusted quantity includes the adjustments made to Performance shares outstanding due to updates on the actual TSR, EPS,
and SDG.
As of December\u00a031, 2025 , a total of EUR 116 million of unrecognized compensation costs relate to non-vested
performance shares (as of December\u00a031, 2024, EUR 128 million; as of December\u00a031, 2023, EUR 102 million).
These costs are expected to be recognized over a weighted-average period of 1.8 years.
Restricted shares
The fair value of restricted shares is equal to the share price at grant date. The company issues restricted
shares that, in general, have a three-year cliff-vesting period provided that the grantee is still employed with
the company.
A summary of the status of the company\u2019s restricted shares as of December\u00a031, 2025, and changes during the
year are presented in the accompanying table.
Philips Group
Restricted shares
2025
2024
Number of shares
Weighted
average grant-
date fair value
Number of shares
Weighted
average grant-
date fair value
EUR-denominated
Outstanding as of January 1
3,523,906
21.17
2,995,252
23.39
Granted
1,146,201
19.38
1,367,380
22.64
Notional dividends \u00b9
145,617
21.43
52,481
22.57
Vested/Issued
(1,147,752)
21.70
(627,855)
35.10
Forfeited
(244,654)
20.65
(263,352)
21.06
Outstanding as of December 31
3,423,318
20.44
3,523,906
21.17
USD-denominated
Outstanding as of January 1
3,327,230
23.04
2,654,193
26.04
Granted
1,118,263
22.18
1,460,620
24.59
Notional dividends \u00b9
136,697
22.66
48,774
24.33
Vested/Issued
(1,070,835)
23.24
(582,404)
40.51
Forfeited
(341,996)
22.97
(253,953)
23.43
Outstanding as of December 31
3,169,359
22.66
3,327,230
23.04
1Dividend declared in 2025 on outstanding shares.
As of December\u00a031, 2025, a total of EUR 67 million of unrecognized compensation costs relate to non-vested
restricted shares (as of December\u00a031, 2024, EUR 73 million; as of December\u00a031, 2023, EUR 63 million). These
costs are expected to be recognized over a weighted-average period of 1.8 years.
Option plans
Retention option plan
In April 2023, the company granted non-recurring retention options that expire after 10 years. These options
vest after two years, provided that the grantee is still employed with the company.
The fair value of the options under this plan is measured based on Black-Scholes-Merton option pricing
model. The expected life of the options is calculated as the average between vesting period (two years) and
the total contractual life (10 years).
The accompanying tables summarize information about the company\u2019s options as of December\u00a031, 2025, and
changes during the year.
Philips Group
Options on EUR-denominated listed share
2025
2024
Number of
options
Weighted average
exercise price
Number of
options
Weighted average
exercise price
Outstanding as of January 1
3,396,539
22.16
3,660,000
22.16
Exercised
(378,515)
22.16
(3,793)
22.16
Forfeited
(11,548)
22.16
(259,668)
22.16
Expired
(39,983)
22.16
-
-
Outstanding as of December 31
2,966,493
22.16
3,396,539
22.16
The total intrinsic value of EUR-denominated options exercised during 2025 was EUR 0.8 million (2024: EUR 15
thousand). Cash received during 2025 from exercises under the company\u2019s options plans amounted to EUR 8.4
million (2024: EUR 84 thousand). As of December\u00a031, 2025, there were 2,966,493 options outstanding and
exercisable (as of December\u00a031, 2024, 3,396,539 options outstanding and 39,983 exercisable) with a weighted
average remaining contractual term of 6.7 years (as of December\u00a031, 2024, 8.1 years for outstanding options
and 0.4 years for exercisable options) and total intrinsic value of EUR 3.2 million (as of December\u00a031, 2024 EUR
7.6 million for outstanding options and EUR 90 thousand for exercisable options).
Philips Group
Options on USD-denominated listed share
2025
2024
Number of
options
Weighted average
exercise price
Number of
options
Weighted average
exercise price
Outstanding as of January 1
1,637,764
24.42
1,929,000
24.42
Exercised
(201,873)
24.42
-
-
Forfeited
(54,248)
24.42
(291,236)
24.42
Outstanding as of December 31
1,381,643
24.42
1,637,764
24.42
The total intrinsic value of USD-denominated options exercised during 2025 was USD 0.5 million (2024: USD
nil). Cash received during 2025 from exercises under the company\u2019s options plans amounted to EUR 4.4 million
(2024: EUR nil). The actual tax deductions realized as a result of USD option exercises totaled approximately
EUR 1.0 million in 2025 (2024: nil). As of December\u00a031, 2025, there were 1,381,643 options outstanding and
exercisable (as of December\u00a031, 2024, 1,637,764 options outstanding and nil exercisable) with a weighted
average remaining contractual term of 5.8 years (as of December\u00a031, 2024, 8.0 years for outstanding options
and 0 years for exercisable options) and total intrinsic value of USD 3.7 million (as of December\u00a031, 2024, USD
1.5 million for outstanding options and USD nil for exercisable options).
Philips Group
Outstanding options in millions of EUR unless otherwise stated\u00a0
2025
2024
Number of
options
Intrinsic
value
Weighted
average
remaining
contractual
term in years
Number of
options
Intrinsic
value
Weighted
average
remaining
contractual
term in years
EUR-denominated
20-25
2,966,493
3
6.7
3,396,539
8
8.1
Outstanding options
2,966,493
3
6.7
3,396,539
8
8.1
USD-denominated
20-25
1,381,643
4
5.8
1,637,764
1
8.0
Outstanding options
1,381,643
4
5.8
1,637,764
1
8.0
*Executive Committee members can receive restricted share rights as a sign-on LTI awards upon hiring.
**The definition of this non-IFRS measure and a reconciliation to the IFRS measure is included in Equity.
", "dimensions": { "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-771": { "value": "0.85", "decimals": 2, "dimensions": { "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "f-772": { "value": "0.85", "decimals": 2, "dimensions": { "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "f-773": { "value": "0.85", "decimals": 2, "dimensions": { "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "f-774": { "value": "
18Debt
\"Icon_Accounting
Accounting policies
Debt
Debt is initially measured at fair value net of directly attributable transaction costs. Subsequently, debt is
measured at amortized cost using the effective interest rate method. Amortized cost is calculated by taking
into account any discount or premium on acquisition and fees or costs that are an integral part of the
effective interest rate. Debt is derecognized when the obligation under the liability is discharged, cancelled or
has expired.
Lease liabilities
Lease liabilities are measured at the present value of the lease payments due over the lease term, generally
discounted using the incremental borrowing rate. Lease liabilities are subsequently measured at amortized
cost using the effective interest rate method. Lease liabilities are remeasured in case of modifications or
reassessments of the lease.
Philips has a USD 2.5 billion Commercial Paper Program and a EUR 1 billion committed standby revolving
credit facility that can be used for general group purposes. As of December\u00a031, 2025 , Philips did not have any
loans outstanding under either facility. These facilities do not have a material adverse change clause, have no
financial covenants and no credit-rating-related acceleration possibilities.
Philips established a Euro Medium-Term Note (EMTN) program, a framework that facilitates the issuance of
notes for a total amount up to EUR 10 billion . In 2025, Philips issued two new tranches under the program for
a total of EUR 1\u00a0billion fixed rate notes due 2030 and 2035 for general corporate purposes, including the
refinancing of the 2026 EUR and USD Bonds, and tendered on outstanding 2026, 2027, 2028 and 2029 EUR
Bonds. As of December 31, 2025, Philips has EUR 4.6\u00a0billion (2024: EUR 3.7\u00a0billion) fixed rate notes outstanding
under the EMTN program.
The conditions applicable to all USD-denominated corporate bonds issued by the company in March 2008 and
March 2012 (due 2038 and 2042) contain a \u2018Change of Control Triggering Event\u2019. If the company would
experience such an event with respect to a series of corporate bonds the company might be required to offer
to purchase the bonds that are still outstanding at a purchase price equal to 101% of their principal amount,
plus accrued and unpaid interest, if any. Furthermore, the conditions applicable to the EUR-denominated
corporate bonds issued since 2018 contain a similar provision (\u2018Change of Control Put Event\u2019). Upon the
occurrence of such an event, the company might be required to redeem or purchase any of such bonds at
their principal amount together with interest accrued. Philips\u2019 outstanding long-term debt does not contain
financial covenants.
As of December 31, 2025, debt includes forward contracts of EUR 260\u00a0million (nominal value) relating to the
repurchase of shares to cover long-term incentive and employee stock purchase plans (2024: EUR 142\u00a0million),
with maturity dates in the fourth quarter of 2026 (EUR 141\u00a0million) and in 2027 (EUR 119\u00a0million).
Long-term debt
The accompanying tables present information about the long-term debt outstanding, its maturity and
average interest rates in 2025 and 2024.
Philips Group
Long-term debt in millions of EUR unless otherwise stated
2025
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
1,135
108
1,027
-
1,027
12.6
6.2%
EUR bonds
5,659
632
5,027
2,747
2,280
4.5
2.5%
Forward contracts
274
152
123
123
-
1.2
0.5%
Lease liabilities
963
207
757
479
277
3.5
4.0%
Bank borrowings
1
1
-
-
-
1.0
1.0%
Other long-term debt
-
-
-
-
-
3.6
1.3%
Long-term debt
8,032
1,098
6,934
3,349
3,584
5.4
3.2%
Philips Group
Long-term debt in millions of EUR unless otherwise stated
2024
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
1,408
131
1,276
122
1,154
12.3
6.3%
EUR bonds
4,917
4,917
2,639
2,278
4.7
2.3%
Forward contracts
148
82
66
66
-
1.3
1.2%
Lease liabilities
1,073
219
854
506
347
3.8
3.7%
Bank borrowings
1
1
1
1
-
1.5
1.0%
Other long-term debt
-
-
-
-
-
3.2
1.2%
Long-term debt
7,546
434
7,113
3,333
3,779
5.9
3.2%
Bonds
The accompanying table presents the amount outstanding and effective rate of bonds.
Philips Group
Unsecured Bonds in millions of EUR unless otherwise stated
Effective rate
2025
2024
Unsecured EUR Bonds
Due 22/05/2026; 1/2%
0.608%
632
750
Due 05/05/2027; 1 7/8%
2.049%
687
750
Due 02/05/2028; 1 3/8%
1.523%
480
500
Due 05/11/2029; 2 1/8%
2.441%
595
650
Due 30/03/2030; 2%
2.128%
500
500
Due 31/05/2030; 3 2/8%
3.324%
500
Due 08/09/2031; 4 2/8%
4.33%
500
500
Due 31/05/2032; 3 3/4%
4.043%
700
700
Due 05/05/2033; 2 5/8%
2.71%
600
600
Due 31/05/2035; 4%
4.092%
500
Unsecured USD Bonds
Due 15/05/2025; 7 3/4%
7.429%
52
Due 15/05/2025; 7 1/8%
6.794%
79
Due 01/06/2026; 7 1/5%
6.885%
108
121
Due 03/11/2038; 6 7/8%
7.21%
620
697
Due 15/03/2042; 5%
5.273%
426
480
Adjustments \u00b9
(54)
(55)
Unsecured Bonds
6,794
6,324
1Adjustments related to both EUR and USD bonds and concern bond discounts, premium and transaction costs
Leases
The accompanying table presents a reconciliation between the total of future minimum lease payments and
their present value.
Philips Group
Lease liabilities in millions of EUR
2025
2024
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
241
34
207
255
35
219
Between one and five years
556
76
479
592
85
506
More than five years
304
27
277
385
38
347
Lease liabilities
1,101
137
963
1,232
159
1,073
Short-term debt
Philips Group
Short-term debt in millions of EUR
2025
2024
Short-term bank borrowings
52
92
Current portion of long-term debt
1,098
434
Short-term debt
1,151
526
During 2025, the weighted average interest rate on the bank borrowings was 6.3% (2024: 9.3%). This
decrease was mainly driven by lower interest rate environments across various countries globally.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-777": { "value": "
18Debt
\"Icon_Accounting
Accounting policies
Debt
Debt is initially measured at fair value net of directly attributable transaction costs. Subsequently, debt is
measured at amortized cost using the effective interest rate method. Amortized cost is calculated by taking
into account any discount or premium on acquisition and fees or costs that are an integral part of the
effective interest rate. Debt is derecognized when the obligation under the liability is discharged, cancelled or
has expired.
Lease liabilities
Lease liabilities are measured at the present value of the lease payments due over the lease term, generally
discounted using the incremental borrowing rate. Lease liabilities are subsequently measured at amortized
cost using the effective interest rate method. Lease liabilities are remeasured in case of modifications or
reassessments of the lease.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-776": { "value": "
18Debt
\"Icon_Accounting
Accounting policies
Debt
Debt is initially measured at fair value net of directly attributable transaction costs. Subsequently, debt is
measured at amortized cost using the effective interest rate method. Amortized cost is calculated by taking
into account any discount or premium on acquisition and fees or costs that are an integral part of the
effective interest rate. Debt is derecognized when the obligation under the liability is discharged, cancelled or
has expired.
Philips has a USD 2.5 billion Commercial Paper Program and a EUR 1 billion committed standby revolving
credit facility that can be used for general group purposes. As of December\u00a031, 2025 , Philips did not have any
loans outstanding under either facility. These facilities do not have a material adverse change clause, have no
financial covenants and no credit-rating-related acceleration possibilities.
Philips established a Euro Medium-Term Note (EMTN) program, a framework that facilitates the issuance of
notes for a total amount up to EUR 10 billion . In 2025, Philips issued two new tranches under the program for
a total of EUR 1\u00a0billion fixed rate notes due 2030 and 2035 for general corporate purposes, including the
refinancing of the 2026 EUR and USD Bonds, and tendered on outstanding 2026, 2027, 2028 and 2029 EUR
Bonds. As of December 31, 2025, Philips has EUR 4.6\u00a0billion (2024: EUR 3.7\u00a0billion) fixed rate notes outstanding
under the EMTN program.
The conditions applicable to all USD-denominated corporate bonds issued by the company in March 2008 and
March 2012 (due 2038 and 2042) contain a \u2018Change of Control Triggering Event\u2019. If the company would
experience such an event with respect to a series of corporate bonds the company might be required to offer
to purchase the bonds that are still outstanding at a purchase price equal to 101% of their principal amount,
plus accrued and unpaid interest, if any. Furthermore, the conditions applicable to the EUR-denominated
corporate bonds issued since 2018 contain a similar provision (\u2018Change of Control Put Event\u2019). Upon the
occurrence of such an event, the company might be required to redeem or purchase any of such bonds at
their principal amount together with interest accrued. Philips\u2019 outstanding long-term debt does not contain
financial covenants.
As of December 31, 2025, debt includes forward contracts of EUR 260\u00a0million (nominal value) relating to the
repurchase of shares to cover long-term incentive and employee stock purchase plans (2024: EUR 142\u00a0million),
with maturity dates in the fourth quarter of 2026 (EUR 141\u00a0million) and in 2027 (EUR 119\u00a0million).
Long-term debt
The accompanying tables present information about the long-term debt outstanding, its maturity and
average interest rates in 2025 and 2024.
Philips Group
Long-term debt in millions of EUR unless otherwise stated
2025
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
1,135
108
1,027
-
1,027
12.6
6.2%
EUR bonds
5,659
632
5,027
2,747
2,280
4.5
2.5%
Forward contracts
274
152
123
123
-
1.2
0.5%
Lease liabilities
963
207
757
479
277
3.5
4.0%
Bank borrowings
1
1
-
-
-
1.0
1.0%
Other long-term debt
-
-
-
-
-
3.6
1.3%
Long-term debt
8,032
1,098
6,934
3,349
3,584
5.4
3.2%
Philips Group
Long-term debt in millions of EUR unless otherwise stated
2024
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
1,408
131
1,276
122
1,154
12.3
6.3%
EUR bonds
4,917
4,917
2,639
2,278
4.7
2.3%
Forward contracts
148
82
66
66
-
1.3
1.2%
Lease liabilities
1,073
219
854
506
347
3.8
3.7%
Bank borrowings
1
1
1
1
-
1.5
1.0%
Other long-term debt
-
-
-
-
-
3.2
1.2%
Long-term debt
7,546
434
7,113
3,333
3,779
5.9
3.2%
Bonds
The accompanying table presents the amount outstanding and effective rate of bonds.
Philips Group
Unsecured Bonds in millions of EUR unless otherwise stated
Effective rate
2025
2024
Unsecured EUR Bonds
Due 22/05/2026; 1/2%
0.608%
632
750
Due 05/05/2027; 1 7/8%
2.049%
687
750
Due 02/05/2028; 1 3/8%
1.523%
480
500
Due 05/11/2029; 2 1/8%
2.441%
595
650
Due 30/03/2030; 2%
2.128%
500
500
Due 31/05/2030; 3 2/8%
3.324%
500
Due 08/09/2031; 4 2/8%
4.33%
500
500
Due 31/05/2032; 3 3/4%
4.043%
700
700
Due 05/05/2033; 2 5/8%
2.71%
600
600
Due 31/05/2035; 4%
4.092%
500
Unsecured USD Bonds
Due 15/05/2025; 7 3/4%
7.429%
52
Due 15/05/2025; 7 1/8%
6.794%
79
Due 01/06/2026; 7 1/5%
6.885%
108
121
Due 03/11/2038; 6 7/8%
7.21%
620
697
Due 15/03/2042; 5%
5.273%
426
480
Adjustments \u00b9
(54)
(55)
Unsecured Bonds
6,794
6,324
1Adjustments related to both EUR and USD bonds and concern bond discounts, premium and transaction costs
Short-term debt
Philips Group
Short-term debt in millions of EUR
2025
2024
Short-term bank borrowings
52
92
Current portion of long-term debt
1,098
434
Short-term debt
1,151
526
", "dimensions": { "concept": "ifrs-full:DisclosureOfDebtSecuritiesExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-775": { "value": "
18Debt
\"Icon_Accounting
Accounting policies
Debt
Debt is initially measured at fair value net of directly attributable transaction costs. Subsequently, debt is
measured at amortized cost using the effective interest rate method. Amortized cost is calculated by taking
into account any discount or premium on acquisition and fees or costs that are an integral part of the
effective interest rate. Debt is derecognized when the obligation under the liability is discharged, cancelled or
has expired.
24Contingencies
\"Icon_Accounting
Accounting policies
Financial guarantees
Philips\u2019 policy is to provide guarantees and other letters of support only in writing. Philips does not stand by
other forms of support. The company recognizes a liability at the fair value of the obligation at the inception
of a financial guarantee contract. The guarantee is subsequently measured at the higher of the best estimate
of the obligation or the amount initially recognized less, when appropriate, cumulative amortization.
28Fair value of financial assets and liabilities
\"Icon_Accounting
Accounting policies
Fair value hierarchy
For financial reporting purposes, financial instruments are categorized into Level 1, 2 or 3, based on the
degree to which the inputs to the fair value measurements are observable and the significance of the inputs
to the fair value measurement in its entirety, which are as follows:
\u2022 Level 1: inputs are quoted prices (unadjusted) for identical assets or liabilities in active markets that the
company can access at the measurement date
\u2022 Level 2: all significant inputs (other than quoted prices included within Level 1) are observable for the asset
or liability, either directly (as prices) or indirectly (derived from prices)
\u2022 Level 3: one or more of the significant inputs are not based on observable market data, such as third-party
pricing information without adjustments, for the asset or liability
Transfers between Level 1, Level 2, and Level 3 of the fair value hierarchy are recognized at the end of the
reporting period in which the change occurred. Transfers are made when there is a change in the
observability of inputs, such as:
\u2022 Into Level 1: When quoted prices in active markets become available.
\u2022 Out of Level 1: When quoted prices are no longer available or markets become inactive.
\u2022 Into or out of Level 3: When significant inputs become observable or unobservable.
There were no transfers between levels during the years ended December 31, 2025, and December 31, 2024.
Offsetting and master netting agreements
Financial assets and liabilities are offset and the net amount is reported in the balance sheet when, and only
when, the company currently has a legally enforceable right to set-off the amounts and the group intends
either to settle them on a net basis or to realize the asset and settle the liability simultaneously.
29Details of treasury and other financial risks
\"Icon_Accounting
Accounting policies
Derivative financial instruments, including hedge accounting
The company uses derivative financial instruments principally to manage its foreign currency risks and, to a
more limited extent, interest rate and commodity price risks. All derivative financial instruments are
accounted for at the trade date and classified as current or non-current assets or liabilities based on the
maturity date or the early termination date. The company measures all derivative financial instruments at fair
value that is derived from the market prices of the instruments, calculated on the basis of the present value of
the estimated future cash flows based on observable interest yield curves, basis spread, credit spreads and
foreign exchange rates, or derived from option pricing models, as appropriate. Gains or losses arising from
changes in fair value of derivatives are recognized in the Consolidated statements of income, except for
derivatives that are highly effective and qualify for cash flow or net investment hedge accounting.
Changes in the fair value of a derivative that is highly effective and that is designated and qualifies as a cash
flow hedge are recorded in other comprehensive income (OCI) until the Consolidated statements of income
are affected by the variability in cash flows of the designated hedged item. To the extent that the hedge is
ineffective, changes in the fair value are recognized in the Consolidated statements of income.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognized in
the Consolidated statements of income, together with any changes in the fair value of the hedged asset or
liability that are attributable to the hedged risk. The gain or loss relating to the effective portion of interest
rate swaps hedging fixed-rate borrowings is recognized in the Consolidated statements of income, together
with changes in the fair value of the hedged fixed-rate borrowings attributable to interest rate risk.\u00a0If the
hedge no longer meets the criteria for hedge accounting, the adjustment to the carrying amount of a hedged
item for which the effective interest rate method is used is amortized to profit or loss over the period to
maturity using a recalculated effective interest rate.
The company formally assesses, both at the hedge\u2019s inception and on an ongoing basis, whether the
derivatives that are used in hedging transactions are highly effective in offsetting changes in fair values or
cash flows of hedged items. When it is established that a derivative is not highly effective as a hedge or that it
has ceased to be a highly effective hedge, the company discontinues hedge accounting prospectively. When
hedge accounting is discontinued because a forecasted transaction is expected not to occur, the company
continues to carry the derivative on the Consolidated balance sheets at its fair value, and gains and losses that
were accumulated in OCI are recognized immediately in the same line item as they relate to in the
Consolidated statements of income.
Foreign currency differences arising upon retranslation of financial instruments designated as a hedge of a
net investment in a foreign operation are recognized directly in the currency translation differences reserve
through OCI, to the extent that the hedge is effective. To the extent that the hedge is ineffective, such
differences are recognized in the Consolidated statements of income.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-778": { "value": "
Short-term debt
Philips Group
Short-term debt in millions of EUR
2025
2024
Short-term bank borrowings
52
92
Current portion of long-term debt
1,098
434
Short-term debt
1,151
526
During 2025, the weighted average interest rate on the bank borrowings was 6.3% (2024: 9.3%). This
decrease was mainly driven by lower interest rate environments across various countries globally.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingCostsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-780": { "value": "
19Provisions
\"Icon_Accounting
Accounting policies
A provision is a liability of uncertain timing or amount. Provisions are recognized if, as a result of a past event,
the company has a present legal or constructive obligation, it is probable that an outflow of economic
benefits will be required to settle the obligation, and the amount can be estimated reliably. Provisions are
measured at the present value of the expenditures expected to be required to settle the obligation using a
pre-tax discount rate that reflects current market assessments of the time value of money. The increase in the
provision due to passage of time (accretion) is recognized as interest expense. Provisions include contingent
consideration and defined benefit obligations (DBO), which represent financial liabilities characterized by
uncertainty regarding their timing or amount.
Restructuring-related provisions
Provisions for severance and termination benefits are recognized for those costs only when the company has a
detailed formal plan for the restructuring and has raised a valid expectation with those affected that it will
carry out the restructuring by starting to implement that plan or announcing its main features to those
affected by it. Before a provision is established, the company recognizes any impairment loss on the assets
associated with the restructuring.
\"Icon_Accounting
Accounting estimates and judgments
By their nature, the recognition of provisions requires estimates and assumptions regarding the timing and
the amount of outflow of resources. The main estimates include:
\u2022 Product warranty provisions: the provisions for assurance-type product warranty reflect the estimated costs
of replacement and free-of-charge services that will be incurred by the company with respect to products
sold and include costs to execute quality remediation and related field actions (including the Respironics
field action). These require management to make estimates and assumptions about items such as quantities
and the portion of products to be remediated through replacement, repair or (partial) refund.
\u2022 Environmental provisions: provisions for environmental remediation can change significantly due to the
emergence of additional information regarding the extent or nature of the contamination, the need to
utilize alternative technologies, actions by regulatory authorities as well as changes in judgments and
discount rates. The impact of climate change is also considered when assessing whether Philips has a
present legal or constructive obligation, particularly in relation to fines, penalties and commitments to
reduce greenhouse gas emissions.
\u2022 Legal provisions: provisions for legal claims and investigations reflect the best estimate of the outflow of
resources, supported by internal and external legal counsel, when it is probable that such outflow of
resources will be required to settle an obligation.
Philips Group
Provisions in millions of EUR
Product warranty
Environmental
Restructuring-
related
Legal
Other
Post-employment
benefits
Contingent
consideration
Total
Current
624
22
102
477
181
-
57
1,463
Non-current
67
80
14
10
248
558
58
1,035
Balance as of December 31, 2023
692
102
116
487
429
558
115
2,498
Additions
439
9
131
1,015
185
81
5
1,865
Utilizations
(507)
(15)
(127)
(477)
(124)
(76)
(9)
(1,336)
Releases
(15)
-
(26)
(28)
(35)
(5)
(3)
(113)
Accretion
-
5
-
38
(1)
-
3
45
Changes in discount rate
-
(7)
-
-
-
-
-
(8)
Translation differences and other
(24)
4
(1)
44
(8)
2
3
21
Total change
(107)
(5)
(23)
592
16
3
(2)
474
Product warranty
Environmental
Restructuring-
related
Legal
Other
Post-employment
benefits
Contingent
consideration
Total
Current
522
20
77
1,066
229
-
61
1,977
Non-current
63
76
16
13
216
560
52
996
Balance as of December 31, 2024
585
96
94
1,079
446
560
113
2,972
Additions
328
7
169
15
116
66
4
706
Utilizations
(385)
(14)
(124)
(1,047)
(166)
(85)
(1)
(1,821)
Releases
(32)
-
(46)
(8)
(26)
-
(2)
(114)
Accretion
-
4
-
1
-
-
1
7
Translation differences and other
(39)
(11)
(4)
(9)
(33)
(22)
(5)
(123)
Total change
(129)
(13)
(4)
(1,048)
(109)
(40)
(3)
(1,345)
Current
373
19
84
18
140
-
77
712
Non-current
83
64
5
12
196
520
34
915
Balance as of December 31, 2025
456
83
90
31
337
520
111
1,627
Post-employment benefits
For details of post-employment benefits refer to Post-employment benefits.
Product warranty provisions
Product warranty provisions include costs of replacements and repair services that will be incurred by the
company in relation to products sold, to execute quality remediation and related field actions, as well as the
field action provision in connection with the Respironics voluntary recall notification, which is explained
separately in the next section. The company expects the provisions to be utilized mainly within 2026.
Additions in 2025 include EUR 149 million for replacement and repair services related to products sold under
warranty, as well as EUR 138 million and EUR 40 million for quality remediation and related field actions in
the Diagnosis & Treatment and Connected Care segments, respectively.
Respironics field-action provision
On June 14, 2021, Philips subsidiary Philips Respironics initiated a voluntary recall notification in the US and
field safety notice outside the US for certain sleep and respiratory care products related to the polyester-based
polyurethane (PE-PUR) sound abatement foam in these devices. The remediation continues to progress
globally. As of December\u00a031, 2025, the total number of units remaining that are expected to be remediated is
approximately 65,000 devices worldwide.
Philips has recognized a provision based on Philips\u2019 best estimate of the costs to repair, replace or refund
devices, subject to the Respironics field action. The provision is related to the cost to repair, replace or provide
financial compensation for affected devices and includes, among others, the costs for the remaining
production, the cost of intensified communication with physicians and patients, material costs, labor cost and
logistics, as well as costs relating to financial compensation provided to customers under the field action. The
provision does not include any product liability costs or other claims.
Philips Group
Respironics field-action provision in millions of EUR
2025
2024
Balance as of January 1
130
334
Additions
15
30
Utilizations
(92)
(220)
Translation differences and other
(17)
(14)
Balance as of December 31
36
130
Utilizations for the year reflect the costs incurred in executing the remediation during the year.
The completion of the field action continues to be subject to uncertainty, which requires management to
make estimates and assumptions about items such as quantities and the portion to be replaced, repaired and
subject to financial compensation.
Further to the above, field-action running remediation costs during the year of EUR 112 million (2024: EUR
133 million, 2023: EUR 224 million), such as testing, external advisory and regulatory response and additional
right-of-return and warranty provisions, have been incurred.
Philips and its affiliates are defendants in a number of consumer class action lawsuits from users of the
affected devices and a number of individual personal injury and other compensation claims. For legal matters
including claims refer to the legal provisions section of this note as well as Contingencies.
Environmental provisions
The environmental provisions include accrued costs recorded with respect to environmental remediation in
various countries. In the US, subsidiaries of the company have been named as potentially responsible parties in
state and federal proceedings for the clean-up of certain sites.
The additions and the releases of the provisions originate from additional insights in relation to factors like
the estimated cost of remediation, changes in regulatory requirements and efficiencies in completion of
various site work phases.
Approximately EUR 60 million of the long-term provision is expected to be utilized after one to five years,
with the remainder after five years. For more details on the environmental remediation refer to
Contingencies.
Restructuring-related provisions
Philips Group
Restructuring-related provisions\u00a0in millions of EUR
December 31,
2025
December 31,
2024
Diagnosis & Treatment
27
34
Connected Care
22
19
Personal Health
7
15
Other
34
26
Philips Group
90
94
In 2025, Philips continued general productivity actions aimed at simplifying the organization as part of its
multi-year plan designed to create value with sustainable impact. As of December 31, 2025, the most
significant restructuring projects impacted segments Other and Diagnosis & Treatment and mainly took place
in the Netherlands, the US and Germany. The restructuring comprised mainly product portfolio rationalization
and the reorganization of global support functions. The company expects the provisions to be utilized mainly
within the next year.
Legal provisions
Philips is a defendant in a number of consumer class-action lawsuits from users of the affected devices and a
number of individual personal injury and other compensation claims related to the Respironics recall.
On May 9, 2024, Philips Respironics reached agreement on a class action settlement in relation to the pending
US medical monitoring class action complaint and a private settlement in relation to US personal injury claims
for an aggregate amount of USD 1.1 billion. Both agreements became final in January 2025 following a
successful registration process for the personal injury settlement and subsequently the settlement amounts
have been fully paid in the first half of 2025.
Utilizations of EUR 1,047 million mainly relate to the medical monitoring and personal injury claims class
action settlement in the US that was paid in 2025.
For details of other legal matters, including regulatory and other governmental proceedings, refer to
Contingencies .
The company expects the provisions to be utilized mainly within the next three years.
Contingent consideration
There is no material movement in 2025 and approximately EUR 32 million of the non-current amount is
expected to be utilized after three years. These amounts relate to previous acquisitions in 2018 and 2022.
Other provisions
The main elements of other provisions are:
Philips Group
Other provisions in millions of EUR
2025
2024
Other long-term employee benefits
70
80
Self-insurance
74
60
Non-income taxes / social security
32
48
Rights of return
34
44
Decommissioning costs
34
37
Onerous contracts
36
66
Remaining
57
111
Balance as of December 31
337
446
Onerous contracts reflect non-cancellable commitments on supplies for which no future demand or
alternative usage has been identified. Remaining provisions relate to a variety of positions, for example
provision for disability of employees and provision for royalty obligations. The releases in 2024 and 2025
reflect updated assessments of these provisions throughout the year. The company expects the other
provisions to be utilized mainly within the next five years
24Contingencies
\"Icon_Accounting
Accounting policies
Contingent liabilities
A contingent liability is a liability of uncertain timing and amount. Contingencies are not recognized in the
balance sheet because they are dependent on the occurrence or non-occurrence of one or more uncertain
future events not wholly within the control of the company or because the risk of loss is estimated to be
possible but not probable or because the amount cannot be measured reliably.
Contingent assets
Contingent assets are disclosed if the inflow of economic benefits is probable, but not virtually certain. If the
inflow of economic benefits becomes virtually certain, the asset would no longer be contingent and its
recognition appropriate.
Financial guarantees
Philips\u2019 policy is to provide guarantees and other letters of support only in writing. Philips does not stand by
other forms of support. The company recognizes a liability at the fair value of the obligation at the inception
of a financial guarantee contract. The guarantee is subsequently measured at the higher of the best estimate
of the obligation or the amount initially recognized less, when appropriate, cumulative amortization.
\"Icon_Accounting
Accounting estimates and judgments
Significant judgment is required to determine the likelihood of a potential outflow of resources. In addition,
judgment is involved in determining whether the amount of an obligation can be measured with sufficient
reliability. Contingencies involve inherent uncertainties including, but not limited to, court rulings,
negotiations between affected parties, governmental actions, tax and environmental remediation.
Contingent assets require management to apply judgment, especially to estimate the likelihood of the inflow
of economic benefits and timing of recognition.
Guarantees
The total fair value of guarantees recognized on the balance sheet amounts to EUR 2 million (December 31,
2024: nil). Remaining off-balance-sheet business related guarantees on behalf of third parties and associates
amounted to EUR 4 million as of December\u00a031, 2025, (December\u00a031, 2024 : EUR 343 million). The decrease
compared to the prior year primarily reflects that the insurance\u2011related product\u2011liability exposure associated
with the Respironics recall was settled and, accordingly, was no longer outstanding as of December\u202f31,\u202f2025.
Environmental remediation
The company and its subsidiaries are subject to environmental laws and regulations. Under these laws, the
company and/or its subsidiaries may be required to remediate the effects of certain manufacturing activities
on the environment.
Legal proceedings
The company and certain of its group companies and former group companies are involved as a party in legal
proceedings, regulatory and other governmental proceedings, including discussions on potential remedial
actions, relating to such matters as competition issues, commercial transactions, product liability,
participations, and environmental pollution.
While it is not feasible to predict or determine the outcome of all pending or threatened legal proceedings,
regulatory and governmental proceedings, the company is of the opinion that the cases described below may
have, or have had in the recent past, a significant impact on the company\u2019s consolidated financial position,
results of operations and cash flows.
Respironics recall
On June 14, 2021, Philips subsidiary Philips RS North America LLC (Philips Respironics) issued a voluntary recall
notification in the US and field safety notice outside the US for specific Philips Respironics CPAP, Bi-Level PAP,
and mechanical ventilator devices (the \u201cRecalled Devices\u201d).
Consent decree
On August 26, 2021, the US Food and Drug Administration (FDA) commenced an inspection of the Philips
Respironics manufacturing facility in Murrysville, Pennsylvania, and provided Philips Respironics with its
preliminary inspectional observations on November 9, 2021. In 2024, Philips Respironics reached an agreement
with the US Department of Justice (DoJ), acting on behalf of the FDA, regarding the terms of a consent decree
to resolve the identified issues in relation to the inspection.
DOJ investigation; state Attorneys General investigation
Philips Respironics and certain of Philips' subsidiaries in the US continue to cooperate with a criminal and civil
investigation triggered by a subpoena received from the DOJ in 2022 to provide information related to events
leading to the Respironics recall. In addition, the same entities are cooperating with an investigation initiated
in 2024 by certain US state Attorneys General into trade practices related to the products subject of the
Respironics recall. While the outflow of economic resources in connection with these investigations is assessed
as probable, given the current stage of the investigations, the company is not able to reliably estimate the
financial impact.
Product liability claims
Following the voluntary recall notification, a number of civil complaints have been filed in several jurisdictions
against Philips Respironics and certain of its affiliates (including the company) generally alleging economic
loss, personal injury and/or the potential for personal injury allegedly caused by the recalled devices.
In the US, consumer and commercial class action lawsuits have been filed alleging economic loss and medical
monitoring claims. Individual personal injury lawsuits have also been filed. On October 8, 2021, a Multi-District
Litigation (MDL) in the US District Court for the Western District of Pennsylvania was formed, and most of
these class action and personal injury lawsuits have been consolidated in the MDL for pre-trial proceedings.
On September 7, 2023, Philips Respironics reached agreement on a class action settlement in relation to the
economic loss class action complaint, for which the company recorded a EUR 575\u00a0million provision in the first
quarter of 2023. The claims period concluded on August 9, 2024, and since then, the Claims Administrator has
been processing claims, calculating relevant payment amounts, and making payments to eligible class
members.
On May 9, 2024, Philips Respironics reached agreement on a class action settlement in relation to the medical
monitoring class action complaint. Under the agreement, which became final in January 2025, the Philips
defendants agreed to pay a capped amount of USD 25\u00a0million into a Qualified Settlement Fund for the
benefit of eligible class members.
Also on May 9, 2024, Philips Respironics reached agreement on a private settlement in relation to US personal
injury claims. Under the agreement, the Philips defendants have agreed to pay USD 1.075\u00a0billion to consist of
USD 25\u00a0million in notice and administrative costs and USD 1.050\u00a0billion into a Personal Injury Settlement Fund.
The settlement became final as at the registration deadline on January 31, 2025, registrations exceeded the
required 95% of eligible claimants, and payment occurred in the first half of 2025. For those individuals who
declined to participate in, or are ineligible for, the settlement, and who wish to litigate their personal injury
claims, they will need to identify themselves after the registration deadline and then comply with court orders
imposing certain discovery obligations on them, including with respect to early disclosure of their evidence on
causation.
Philips Respironics and certain of its affiliates (including the company) continue to be defendants in consumer
class action lawsuits in Australia and Canada and collective or group actions in Chile, France, Germany, Italy
and the Netherlands, alleging economic loss and/or personal injury. In 2025, a class action in Israel was
resolved while a class action filed in Italy was dismissed by the court and is pending appeal.
While the company believes it is probable that ongoing lawsuits will in the aggregate lead to an outflow of
economic resources for Philips Respironics or other Philips entities, given the significant uncertainty regarding
the nature of the relevant events and potential obligations, the company is not currently able to reliably
estimate the amount of the obligation associated with these various lawsuits. The final outcome of the
lawsuits and the remaining cost to resolve them cannot currently be determined due to a number of variables,
including the early stages of some of these proceedings and uncertainty regarding the number of remaining
claimants, their allegations, and their alleged injuries. The courts have not yet been asked to decide the
question of whether any of the claimed injuries could have been caused by use of the recalled devices.
In 2024, the company and its insurance carriers reached an agreement on the basis of which the insurance
carriers agreed to contribute EUR 540\u00a0million to cover product liability-related cash flows related to the
Respironics recall. This amount was paid in full to the company in 2024.
Securities claims
On August 16, 2021, a securities class action complaint was filed against the company, its former CEO and its
former CFO in the US District Court for the Eastern District of New York alleging violations of the Securities
Exchange Act of 1934 causing damage to investors. On September 23, 2024, following amendments to the
complaint, the court issued a decision dismissing all claims against the company\u2019s former CFO and the former
head of Philips Respironics but denying in part the motion to dismiss with respect to the company and its
former CEO. The Court narrowed the class period and dismissed all claims based on statements made before
2018. The Court also dismissed all claims relating to certain categories of alleged misstatements. On October
28, 2024, the company and its former CEO moved for reconsideration of that portion of the decision denying
their motion, and that motion was denied in November 2025. On February 28, 2025, plaintiffs moved for class
certification, and that motion remains pending. On December 15, 2025, plaintiffs moved for leave to file a
further amended complaint that would add certain additional allegations and the company\u2019s current CEO as a
defendant; the proposed amendment would not change the proposed class period. The Court granted
plaintiffs\u2019 motion for leave to amend and plaintiffs filed their amended complaint on December 29, 2025. On
January 30, 2026, defendants filed a motion to dismiss the further amended complaint.
In the Netherlands, six different parties (primarily commercially motivated litigation funders and investor
advocacy organizations) representing both retail and institutional investors have approached the company,
holding the company and its directors liable for alleged misstatements and failures to make timely disclosures
in relation to the Respironics recall. As of December 31, 2025, two parties have filed a civil complaint with the
Amsterdam District Court. In addition, on December 31, 2025, the VEB, also on behalf of certain retail and
institutional investors, filed a request for inquiry proceedings with the Enterprise Chamber of the Amsterdam
Court of Appeal. On January 9, 2026 and January 14, 2026, similar requests were filed by Vanguard on behalf
of certain funds they manage and by Grant & Eisenhofer P.A. and Old Haven Funding LLC on behalf of certain
investors.
It is the company\u2019s assessment that it is possible but not probable that these cases could lead to a certain
outflow of economic resources. The company is not able to reliably estimate the financial impact, if any. An
adverse outcome of these cases could have a material impact on the company\u2019s consolidated financial
position, results of operations and cash flows.
SEC investigation
Following earlier requests for information from the US Securities and Exchange Commission (SEC), in March
2024, the company received a subpoena from the SEC relating to the Respironics recall and compliance with
relevant securities laws. The investigation is not an indication that the SEC or its staff have determined that
any violations of law have occurred. The company is fully cooperating with the investigation. It is the
company's assessment that it is possible but not probable that this investigation could lead to certain outflow
of resources. The company is not able to reliably estimate the financial impact, if any.
Other claims
On October 12, 2021, SoClean, a company offering ozone-based cleaning products for sleep devices, filed a
lawsuit in the US against the company and certain of its affiliates alleging that the defendants\u2019 statements
about the potential adverse effect ozone cleaning may have on the recalled devices has significantly damaged
its business. Philips believes that the claim is without merit. In November 2023, the court ruled on one of the
motions to dismiss filed by defendants and partially dismissed some of SoClean\u2019s claims. On January 4, 2024,
Philips and its affiliates filed their answer and counterclaims against SoClean and one of its affiliates. In
October 2024, the court partially dismissed some of the counterclaims. Philips and its affiliates are also
pursuing claims against SoClean and one of its affiliates for contribution for personal injury settlement costs
and/or personal injury liability incurred by the company or its affiliates. As of December 31, 2025, Philips and
SoClean have reached an agreement in principle, subject to documentation, to mutually resolve all pending
litigation between them.
Other
In the second half of 2023, Electro Medical Systems S.A., a manufacturer of, among others, medical devices for
dental prophylaxis, filed a lawsuit against the company alleging that the company materially breached its
duties under a cooperation agreement entered into between the parties in 2016, claiming damages in excess
of EUR 300\u00a0million, alleging loss of profit and lost increase in brand value. Philips disagrees with the
allegations and has submitted its statement of defense in June 2024. A first Court hearing took take place in
the first half of 2025. The case is now pending further instructions from the court.
Miscellaneous
For details on other contractual obligations, please refer to liquidity risk in Details of treasury and other
financial risks", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-781": { "value": "
19Provisions
\"Icon_Accounting
Accounting policies
A provision is a liability of uncertain timing or amount. Provisions are recognized if, as a result of a past event,
the company has a present legal or constructive obligation, it is probable that an outflow of economic
benefits will be required to settle the obligation, and the amount can be estimated reliably. Provisions are
measured at the present value of the expenditures expected to be required to settle the obligation using a
pre-tax discount rate that reflects current market assessments of the time value of money. The increase in the
provision due to passage of time (accretion) is recognized as interest expense. Provisions include contingent
consideration and defined benefit obligations (DBO), which represent financial liabilities characterized by
uncertainty regarding their timing or amount.
Restructuring-related provisions
Provisions for severance and termination benefits are recognized for those costs only when the company has a
detailed formal plan for the restructuring and has raised a valid expectation with those affected that it will
carry out the restructuring by starting to implement that plan or announcing its main features to those
affected by it. Before a provision is established, the company recognizes any impairment loss on the assets
associated with the restructuring.
20Post-employment benefits
\"Icon_Accounting
Accounting policies
Defined benefit plans
A defined benefit plan is a post-employment benefit plan that is not a defined contribution plan. Defined
benefit plans define an amount of pension benefit that an employee will receive after retirement. That
pension benefit typically depends on several factors such as years of service, age and salary.
The net pension asset or liability recognized in the Consolidated balance sheets in respect of defined benefit
plans is the fair value of plan assets less the present value of the projected defined benefit obligation at the
balance sheet date. The defined benefit obligation is calculated annually by qualified actuaries using the
projected unit credit method. Recognized assets are limited to the present value of any reductions in future
contributions or any future refunds. The net pension liability is presented as a long-term provision; no
distinction is made for the short-term portion.
For the company\u2019s major plans, a full discount rate curve of high-quality corporate bonds is used to determine
the defined benefit obligation, where available. The curves are based on the Mercer Yield Curve
methodology, which uses data of corporate bonds rated AA or equivalent. For the other plans, a single point
on the Mercer Yield Curve is used corresponding to the average maturity of the defined benefit obligation. In
countries without a deep corporate bond market, the discount rate is based on government bonds.
Pension costs with respect to defined benefit plans primarily represent the increase of the actuarial present
value of the obligation for post-employment benefits based on employee service during the year and the
interest on the net recognized asset or liability with respect to employee service in previous years.
Remeasurements of the net defined benefit asset or liability comprise actuarial gains and losses, the return on
plan assets (excluding interest) and the effect of the asset ceiling (excluding interest). The company recognizes
all remeasurements in Other comprehensive income.
Past service costs arising from the introduction of a change to the benefit payable under a plan or a
significant reduction of the number of employees covered by a plan (curtailment) are recognized in full in the
Consolidated statements of income.
The company\u2019s net obligation with respect to other long-term employee benefits is the amount of future
benefit that employees have earned in return for their service in the current and prior periods, such as jubilee
entitlements. That benefit is discounted to determine its present value. Remeasurements are recognized in
the Consolidated statements of income in the period in which they arise.
Further information on other long-term employee benefits can be found in Provisions in the Other provisions
section.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-779": { "value": "
19Provisions
\"Icon_Accounting
Accounting policies
Restructuring-related provisions
Provisions for severance and termination benefits are recognized for those costs only when the company has a
detailed formal plan for the restructuring and has raised a valid expectation with those affected that it will
carry out the restructuring by starting to implement that plan or announcing its main features to those
affected by it. Before a provision is established, the company recognizes any impairment loss on the assets
associated with the restructuring.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTerminationBenefits", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-782": { "value": "
Contingent consideration
There is no material movement in 2025 and approximately EUR 32 million of the non-current amount is
expected to be utilized after three years. These amounts relate to previous acquisitions in 2018 and 2022.
24Contingencies
\"Icon_Accounting
Accounting policies
Contingent liabilities
A contingent liability is a liability of uncertain timing and amount. Contingencies are not recognized in the
balance sheet because they are dependent on the occurrence or non-occurrence of one or more uncertain
future events not wholly within the control of the company or because the risk of loss is estimated to be
possible but not probable or because the amount cannot be measured reliably.
\"Icon_Accounting
Accounting estimates and judgments
Significant judgment is required to determine the likelihood of a potential outflow of resources. In addition,
judgment is involved in determining whether the amount of an obligation can be measured with sufficient
reliability. Contingencies involve inherent uncertainties including, but not limited to, court rulings,
negotiations between affected parties, governmental actions, tax and environmental remediation.
Contingent assets require management to apply judgment, especially to estimate the likelihood of the inflow
of economic benefits and timing of recognition.
Environmental remediation
The company and its subsidiaries are subject to environmental laws and regulations. Under these laws, the
company and/or its subsidiaries may be required to remediate the effects of certain manufacturing activities
on the environment.
Legal proceedings
The company and certain of its group companies and former group companies are involved as a party in legal
proceedings, regulatory and other governmental proceedings, including discussions on potential remedial
actions, relating to such matters as competition issues, commercial transactions, product liability,
participations, and environmental pollution.
While it is not feasible to predict or determine the outcome of all pending or threatened legal proceedings,
regulatory and governmental proceedings, the company is of the opinion that the cases described below may
have, or have had in the recent past, a significant impact on the company\u2019s consolidated financial position,
results of operations and cash flows.
Respironics recall
On June 14, 2021, Philips subsidiary Philips RS North America LLC (Philips Respironics) issued a voluntary recall
notification in the US and field safety notice outside the US for specific Philips Respironics CPAP, Bi-Level PAP,
and mechanical ventilator devices (the \u201cRecalled Devices\u201d).
Consent decree
On August 26, 2021, the US Food and Drug Administration (FDA) commenced an inspection of the Philips
Respironics manufacturing facility in Murrysville, Pennsylvania, and provided Philips Respironics with its
preliminary inspectional observations on November 9, 2021. In 2024, Philips Respironics reached an agreement
with the US Department of Justice (DoJ), acting on behalf of the FDA, regarding the terms of a consent decree
to resolve the identified issues in relation to the inspection.
DOJ investigation; state Attorneys General investigation
Philips Respironics and certain of Philips' subsidiaries in the US continue to cooperate with a criminal and civil
investigation triggered by a subpoena received from the DOJ in 2022 to provide information related to events
leading to the Respironics recall. In addition, the same entities are cooperating with an investigation initiated
in 2024 by certain US state Attorneys General into trade practices related to the products subject of the
Respironics recall. While the outflow of economic resources in connection with these investigations is assessed
as probable, given the current stage of the investigations, the company is not able to reliably estimate the
financial impact.
Product liability claims
Following the voluntary recall notification, a number of civil complaints have been filed in several jurisdictions
against Philips Respironics and certain of its affiliates (including the company) generally alleging economic
loss, personal injury and/or the potential for personal injury allegedly caused by the recalled devices.
In the US, consumer and commercial class action lawsuits have been filed alleging economic loss and medical
monitoring claims. Individual personal injury lawsuits have also been filed. On October 8, 2021, a Multi-District
Litigation (MDL) in the US District Court for the Western District of Pennsylvania was formed, and most of
these class action and personal injury lawsuits have been consolidated in the MDL for pre-trial proceedings.
On September 7, 2023, Philips Respironics reached agreement on a class action settlement in relation to the
economic loss class action complaint, for which the company recorded a EUR 575\u00a0million provision in the first
quarter of 2023. The claims period concluded on August 9, 2024, and since then, the Claims Administrator has
been processing claims, calculating relevant payment amounts, and making payments to eligible class
members.
On May 9, 2024, Philips Respironics reached agreement on a class action settlement in relation to the medical
monitoring class action complaint. Under the agreement, which became final in January 2025, the Philips
defendants agreed to pay a capped amount of USD 25\u00a0million into a Qualified Settlement Fund for the
benefit of eligible class members.
Also on May 9, 2024, Philips Respironics reached agreement on a private settlement in relation to US personal
injury claims. Under the agreement, the Philips defendants have agreed to pay USD 1.075\u00a0billion to consist of
USD 25\u00a0million in notice and administrative costs and USD 1.050\u00a0billion into a Personal Injury Settlement Fund.
The settlement became final as at the registration deadline on January 31, 2025, registrations exceeded the
required 95% of eligible claimants, and payment occurred in the first half of 2025. For those individuals who
declined to participate in, or are ineligible for, the settlement, and who wish to litigate their personal injury
claims, they will need to identify themselves after the registration deadline and then comply with court orders
imposing certain discovery obligations on them, including with respect to early disclosure of their evidence on
causation.
Philips Respironics and certain of its affiliates (including the company) continue to be defendants in consumer
class action lawsuits in Australia and Canada and collective or group actions in Chile, France, Germany, Italy
and the Netherlands, alleging economic loss and/or personal injury. In 2025, a class action in Israel was
resolved while a class action filed in Italy was dismissed by the court and is pending appeal.
While the company believes it is probable that ongoing lawsuits will in the aggregate lead to an outflow of
economic resources for Philips Respironics or other Philips entities, given the significant uncertainty regarding
the nature of the relevant events and potential obligations, the company is not currently able to reliably
estimate the amount of the obligation associated with these various lawsuits. The final outcome of the
lawsuits and the remaining cost to resolve them cannot currently be determined due to a number of variables,
including the early stages of some of these proceedings and uncertainty regarding the number of remaining
claimants, their allegations, and their alleged injuries. The courts have not yet been asked to decide the
question of whether any of the claimed injuries could have been caused by use of the recalled devices.
In 2024, the company and its insurance carriers reached an agreement on the basis of which the insurance
carriers agreed to contribute EUR 540\u00a0million to cover product liability-related cash flows related to the
Respironics recall. This amount was paid in full to the company in 2024.
Securities claims
On August 16, 2021, a securities class action complaint was filed against the company, its former CEO and its
former CFO in the US District Court for the Eastern District of New York alleging violations of the Securities
Exchange Act of 1934 causing damage to investors. On September 23, 2024, following amendments to the
complaint, the court issued a decision dismissing all claims against the company\u2019s former CFO and the former
head of Philips Respironics but denying in part the motion to dismiss with respect to the company and its
former CEO. The Court narrowed the class period and dismissed all claims based on statements made before
2018. The Court also dismissed all claims relating to certain categories of alleged misstatements. On October
28, 2024, the company and its former CEO moved for reconsideration of that portion of the decision denying
their motion, and that motion was denied in November 2025. On February 28, 2025, plaintiffs moved for class
certification, and that motion remains pending. On December 15, 2025, plaintiffs moved for leave to file a
further amended complaint that would add certain additional allegations and the company\u2019s current CEO as a
defendant; the proposed amendment would not change the proposed class period. The Court granted
plaintiffs\u2019 motion for leave to amend and plaintiffs filed their amended complaint on December 29, 2025. On
January 30, 2026, defendants filed a motion to dismiss the further amended complaint.
In the Netherlands, six different parties (primarily commercially motivated litigation funders and investor
advocacy organizations) representing both retail and institutional investors have approached the company,
holding the company and its directors liable for alleged misstatements and failures to make timely disclosures
in relation to the Respironics recall. As of December 31, 2025, two parties have filed a civil complaint with the
Amsterdam District Court. In addition, on December 31, 2025, the VEB, also on behalf of certain retail and
institutional investors, filed a request for inquiry proceedings with the Enterprise Chamber of the Amsterdam
Court of Appeal. On January 9, 2026 and January 14, 2026, similar requests were filed by Vanguard on behalf
of certain funds they manage and by Grant & Eisenhofer P.A. and Old Haven Funding LLC on behalf of certain
investors.
It is the company\u2019s assessment that it is possible but not probable that these cases could lead to a certain
outflow of economic resources. The company is not able to reliably estimate the financial impact, if any. An
adverse outcome of these cases could have a material impact on the company\u2019s consolidated financial
position, results of operations and cash flows.
SEC investigation
Following earlier requests for information from the US Securities and Exchange Commission (SEC), in March
2024, the company received a subpoena from the SEC relating to the Respironics recall and compliance with
relevant securities laws. The investigation is not an indication that the SEC or its staff have determined that
any violations of law have occurred. The company is fully cooperating with the investigation. It is the
company's assessment that it is possible but not probable that this investigation could lead to certain outflow
of resources. The company is not able to reliably estimate the financial impact, if any.
Other claims
On October 12, 2021, SoClean, a company offering ozone-based cleaning products for sleep devices, filed a
lawsuit in the US against the company and certain of its affiliates alleging that the defendants\u2019 statements
about the potential adverse effect ozone cleaning may have on the recalled devices has significantly damaged
its business. Philips believes that the claim is without merit. In November 2023, the court ruled on one of the
motions to dismiss filed by defendants and partially dismissed some of SoClean\u2019s claims. On January 4, 2024,
Philips and its affiliates filed their answer and counterclaims against SoClean and one of its affiliates. In
October 2024, the court partially dismissed some of the counterclaims. Philips and its affiliates are also
pursuing claims against SoClean and one of its affiliates for contribution for personal injury settlement costs
and/or personal injury liability incurred by the company or its affiliates. As of December 31, 2025, Philips and
SoClean have reached an agreement in principle, subject to documentation, to mutually resolve all pending
litigation between them.
Other
In the second half of 2023, Electro Medical Systems S.A., a manufacturer of, among others, medical devices for
dental prophylaxis, filed a lawsuit against the company alleging that the company materially breached its
duties under a cooperation agreement entered into between the parties in 2016, claiming damages in excess
of EUR 300\u00a0million, alleging loss of profit and lost increase in brand value. Philips disagrees with the
allegations and has submitted its statement of defense in June 2024. A first Court hearing took take place in
the first half of 2025. The case is now pending further instructions from the court.
Miscellaneous
For details on other contractual obligations, please refer to liquidity risk in Details of treasury and other
financial risks", "dimensions": { "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-783": { "value": "
21Accrued liabilities
\"Icon_Accounting
Accounting policies
Accrued liabilities are initially measured at fair value and subsequently at amortized cost and are de-
recognized when the obligation under the liability is discharged, cancelled or has expired.
Accrued liabilities are summarized in the accompanying table.
Philips Group
Accrued liabilities in millions of EUR
2025
2024
Personnel-related costs:
- Salaries and wages
631
601
- Accrued holiday entitlements
100
95
- Other personnel-related costs
98
101
Fixed-asset-related costs:
- Gas, water, electricity, rent and other
32
41
Communication and IT costs
52
55
Distribution costs
92
95
Sales-related costs:
- Commission payable
17
16
- Advertising and marketing-related costs
120
120
- Other sales-related costs
18
15
Material-related costs
116
124
Interest-related accruals
95
83
Other accrued liabilities
246
283
Accrued liabilities
1,616
1,630
22Other liabilities
\"Icon_Accounting
Accounting policies
Other liabilities are initially measured at fair value and subsequently at amortized cost and are derecognized
when the obligation under the liability is discharged, cancelled or has expired.
The company recognizes contract liabilities if a payment is received or a payment is due (whichever is earlier)
from a customer before the company transfers the related goods or services. Contract liabilities are
recognized as revenue when the company performs under the contract (i.e., transfers control of the related
goods or services to the customer).
Other non-current liabilities
Non-current liabilities were EUR 47 million as of December\u00a031, 2025 (December\u00a031, 2024 : EUR 167 million ),
associated mainly with indemnification and non-current accruals.
Other current liabilities
Other current liabilities are summarized in the accompanying table.
Philips Group
Other current liabilities in millions of EUR
2025
2024
Accrued customer rebates
137
169
Other taxes including social security premiums
133
115
Other liabilities
126
70
Other current liabilities
395
354
Other liabilities within Other current liabilities are mainly linked to divestment-related obligations in 2025.
Contract liabilities
Non-current contract liabilities were EUR 458 million as of December\u00a031, 2025 (December\u00a031, 2024: EUR 431
million) and current contract liabilities were EUR 1,490 million as of December\u00a031, 2025 (December\u00a031, 2024 :
EUR 1,699 million ).
The current contract liabilities decreased by EUR 209 million, which is mainly driven by a decrease in deferred
balances for customer service contracts. The current contract liabilities as of December\u00a031, 2024, resulted in
revenue recognized of EUR 1,699 million in 2025.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-787": { "value": "
22Other liabilities
\"Icon_Accounting
Accounting policies
Other liabilities are initially measured at fair value and subsequently at amortized cost and are derecognized
when the obligation under the liability is discharged, cancelled or has expired.
Other non-current liabilities
Non-current liabilities were EUR 47 million as of December\u00a031, 2025 (December\u00a031, 2024 : EUR 167 million ),
associated mainly with indemnification and non-current accruals.
Other current liabilities
Other current liabilities are summarized in the accompanying table.
Philips Group
Other current liabilities in millions of EUR
2025
2024
Accrued customer rebates
137
169
Other taxes including social security premiums
133
115
Other liabilities
126
70
Other current liabilities
395
354
Other liabilities within Other current liabilities are mainly linked to divestment-related obligations in 2025.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-786": { "value": "
22Other liabilities
\"Icon_Accounting
Accounting policies
Other liabilities are initially measured at fair value and subsequently at amortized cost and are derecognized
when the obligation under the liability is discharged, cancelled or has expired.
Other current liabilities
Other current liabilities are summarized in the accompanying table.
Philips Group
Other current liabilities in millions of EUR
2025
2024
Accrued customer rebates
137
169
Other taxes including social security premiums
133
115
Other liabilities
126
70
Other current liabilities
395
354
Other liabilities within Other current liabilities are mainly linked to divestment-related obligations in 2025.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-785": { "value": "
22Other liabilities
\"Icon_Accounting
Accounting policies
Other liabilities are initially measured at fair value and subsequently at amortized cost and are derecognized
when the obligation under the liability is discharged, cancelled or has expired.
Other non-current liabilities
Non-current liabilities were EUR 47 million as of December\u00a031, 2025 (December\u00a031, 2024 : EUR 167 million ),
associated mainly with indemnification and non-current accruals.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-784": { "value": "
22Other liabilities
\"Icon_Accounting
Accounting policies
Contract liabilities
Non-current contract liabilities were EUR 458 million as of December\u00a031, 2025 (December\u00a031, 2024: EUR 431
million) and current contract liabilities were EUR 1,490 million as of December\u00a031, 2025 (December\u00a031, 2024 :
EUR 1,699 million ).
The current contract liabilities decreased by EUR 209 million, which is mainly driven by a decrease in deferred
balances for customer service contracts. The current contract liabilities as of December\u00a031, 2024, resulted in
revenue recognized of EUR 1,699 million in 2025", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredIncomeExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-791": { "value": "
23Cash flow statement supplementary information
\"Icon_Accounting
Accounting policies
Cash and cash equivalents
Cash and cash equivalents include all cash balances, certain money market funds and short-term highly liquid
investments with an original maturity of three months or less that are readily convertible into known amounts
of cash. Bank overdrafts are included in borrowings in current liabilities.
Cash flow statements
The cash flow statement is prepared using the indirect method. Cash flows related to interest and tax are
included in operating activities. Assets and liabilities acquired as part of a business combination are included
in investing activities (net of cash acquired). Dividends paid to shareholders are included in financing activities.
Dividends received are included in operating activities.
Cash flows arising from transactions in a foreign currency are translated into the company\u2019s functional
currency using the exchange rate at the date of the cash flow. Cash flows from derivative instruments that are
accounted for as cash flow hedges are classified in the same category as the cash flows from the hedged
items. Cash flows from other derivative instruments are classified as investing cash flows.
Cash paid for leases
In 2025 , gross lease payments of EUR 268 million (2024: EUR 252 million ; 2023 : EUR 271 million ) included
interest of EUR 38 million (2024: EUR 37 million; 2023 : EUR 27 million).
Net cash used for derivatives and current financial assets
In 2025 , a total of EUR 67 million cash was paid with respect to foreign exchange derivative contracts related
to activities for liquidity management and with respect to the purchase and proceeds from current financial
assets (2024 : EUR 38 million inflow; 2023 : EUR 46 million outflow).
Purchase and proceeds from non-current financial assets
In 2025 , the net cash inflow was EUR 15 million. In 2024, the net cash outflow was EUR 66 million. In 2023, the
net cash outflow was EUR 44 million.
Reconciliation of liabilities arising from financing activities
Certain items in the statements of cash flows do not correspond to the differences between the balance sheet
amounts for the respective items, principally because of the effects of translation differences and
consolidation changes.
Philips Group
Reconciliation of liabilities arising from financing activities in millions of EUR
Balance as of
December 31,
2024
Cash flow
Currency effects
and
consolidation
changes
Other \u00b9
Balance as of
December 31,
2025
Long term debt \u00b2
7,546
448
(230)
267
8,032
EUR bonds
4,917
738
-
4
5,659
USD bonds
1,408
(120)
(154)
1
1,135
Leases
1,073
(169)
(76)
135
963
Forward contracts \u00b3
148
127
274
Bank borrowings
1
(1)
1
Other long-term debt
-
-
Short term debt \u00b2
92
(24)
(16)
53
Short-term bank
borrowings
92
(24)
(16)
-
52
Other short-term loans
1
-
1
Equity
(554)
(317)
306
(565)
Dividend payable
-
(330)
330
-
Forward contracts \u00b3
(143)
-
(125)
(267)
Treasury shares
(411)
13
101
(298)
Total
107
1Besides non-cash, other includes interest paid on leases, which is part of cash flows from operating activities.
2In this table, current portion of long-term debt is included in long-term debt (and excluded from short-term debt).
3The forward contracts are related to the share buyback program and LTI plans.
Philips Group
Reconciliation of liabilities arising from financing activities in millions of EUR
Balance as of
December 31,
2023
Cash flow
Currency effects
and
consolidation
changes
Other \u00b9
Balance as of
December 31,
2024
Long term debt \u00b2
7,567
(53)
107
(74)
7,546
EUR bonds
4,569
340
8
4,917
USD bonds
1,325
83
-
1,408
Leases
1,074
(192)
24
167
1,073
Forward contracts \u00b3
396
(248)
148
Bank borrowings
203
(201)
(1)
1
Other long-term debt
-
-
-
-
-
Short term debt \u00b2
122
(30)
1
-
92
Short-term bank
borrowings
122
(31)
1
92
Other short-term loans
-
1
-
-
1
Equity
(656)
(413)
516
(554)
Dividend payable
-
(3)
3
-
Forward contracts \u00b3
(394)
-
251
(143)
Treasury shares \u2074
(262)
(410)
262
(411)
Total
(496)
1Besides non-cash, other includes interest paid on finance leases, which is part of cash flows from operating activities.
2In this table, current portion of long-term debt is included in long-term debt (and excluded from short-term debt).
3The forward contracts are related to the share buyback program and LTI plans.
4Cash flow in 2024 includes withholding tax for share buyback amounting to EUR 41 million.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCashFlowStatementExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-789": { "value": "
23Cash flow statement supplementary information
\"Icon_Accounting
Accounting policies
Cash and cash equivalents
Cash and cash equivalents include all cash balances, certain money market funds and short-term highly liquid
investments with an original maturity of three months or less that are readily convertible into known amounts
of cash. Bank overdrafts are included in borrowings in current liabilities.
29Details of treasury and other financial risks
The rating of the company\u2019s debt by major rating agencies may improve or deteriorate. As a result, Philips\u2019
future borrowing capacity may be influenced and its financing costs may fluctuate. Philips has various sources
to mitigate the liquidity risk for the group. As of December\u00a031, 2025, Philips had EUR 2,794 million in cash and
cash equivalents (2024: EUR 2,401 million), which includes short-term deposits of EUR 2,086 million (2024 : EUR
1,946 million ). Cash and cash equivalents include all cash balances, money market funds and short-term highly
liquid investments with an original maturity of three months or less that are readily convertible into known
amounts of cash. Philips pools cash from subsidiaries to the extent legally and economically feasible; cash not
pooled remains available for the company\u2019s operational or investment needs.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-788": { "value": "
23Cash flow statement supplementary information
\"Icon_Accounting
Accounting policies
Cash and cash equivalents
Cash and cash equivalents include all cash balances, certain money market funds and short-term highly liquid
investments with an original maturity of three months or less that are readily convertible into known amounts
of cash. Bank overdrafts are included in borrowings in current liabilities.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-790": { "value": "
23Cash flow statement supplementary information
\"Icon_Accounting
Accounting policies
Cash flow statements
The cash flow statement is prepared using the indirect method. Cash flows related to interest and tax are
included in operating activities. Assets and liabilities acquired as part of a business combination are included
in investing activities (net of cash acquired). Dividends paid to shareholders are included in financing activities.
Dividends received are included in operating activities.
Cash flows arising from transactions in a foreign currency are translated into the company\u2019s functional
currency using the exchange rate at the date of the cash flow. Cash flows from derivative instruments that are
accounted for as cash flow hedges are classified in the same category as the cash flows from the hedged
items. Cash flows from other derivative instruments are classified as investing cash flows.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForCashFlowsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-792": { "value": "
23Cash flow statement supplementary information
Cash flows arising from transactions in a foreign currency are translated into the company\u2019s functional
currency using the exchange rate at the date of the cash flow. Cash flows from derivative instruments that are
accounted for as cash flow hedges are classified in the same category as the cash flows from the hedged
items. Cash flows from other derivative instruments are classified as investing cash flows.
Net cash used for derivatives and current financial assets
In 2025 , a total of EUR 67 million cash was paid with respect to foreign exchange derivative contracts related
to activities for liquidity management and with respect to the purchase and proceeds from current financial
assets (2024 : EUR 38 million inflow; 2023 : EUR 46 million outflow).
", "dimensions": { "concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-796": { "value": "
24Contingencies
\"Icon_Accounting
Accounting policies
Contingent liabilities
A contingent liability is a liability of uncertain timing and amount. Contingencies are not recognized in the
balance sheet because they are dependent on the occurrence or non-occurrence of one or more uncertain
future events not wholly within the control of the company or because the risk of loss is estimated to be
possible but not probable or because the amount cannot be measured reliably.
Contingent assets
Contingent assets are disclosed if the inflow of economic benefits is probable, but not virtually certain. If the
inflow of economic benefits becomes virtually certain, the asset would no longer be contingent and its
recognition appropriate.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForContingentLiabilitiesAndContingentAssetsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-793": { "value": "
24Contingencies
\"Icon_Accounting
Accounting policies
Contingent liabilities
A contingent liability is a liability of uncertain timing and amount. Contingencies are not recognized in the
balance sheet because they are dependent on the occurrence or non-occurrence of one or more uncertain
future events not wholly within the control of the company or because the risk of loss is estimated to be
possible but not probable or because the amount cannot be measured reliably.
Financial guarantees
Philips\u2019 policy is to provide guarantees and other letters of support only in writing. Philips does not stand by
other forms of support. The company recognizes a liability at the fair value of the obligation at the inception
of a financial guarantee contract. The guarantee is subsequently measured at the higher of the best estimate
of the obligation or the amount initially recognized less, when appropriate, cumulative amortization.
\"Icon_Accounting
Accounting estimates and judgments
Significant judgment is required to determine the likelihood of a potential outflow of resources. In addition,
judgment is involved in determining whether the amount of an obligation can be measured with sufficient
reliability. Contingencies involve inherent uncertainties including, but not limited to, court rulings,
negotiations between affected parties, governmental actions, tax and environmental remediation.
Contingent assets require management to apply judgment, especially to estimate the likelihood of the inflow
of economic benefits and timing of recognition.
Guarantees
The total fair value of guarantees recognized on the balance sheet amounts to EUR 2 million (December 31,
2024: nil). Remaining off-balance-sheet business related guarantees on behalf of third parties and associates
amounted to EUR 4 million as of December\u00a031, 2025, (December\u00a031, 2024 : EUR 343 million). The decrease
compared to the prior year primarily reflects that the insurance\u2011related product\u2011liability exposure associated
with the Respironics recall was settled and, accordingly, was no longer outstanding as of December\u202f31,\u202f2025.
Environmental remediation
The company and its subsidiaries are subject to environmental laws and regulations. Under these laws, the
company and/or its subsidiaries may be required to remediate the effects of certain manufacturing activities
on the environment.
Legal proceedings
The company and certain of its group companies and former group companies are involved as a party in legal
proceedings, regulatory and other governmental proceedings, including discussions on potential remedial
actions, relating to such matters as competition issues, commercial transactions, product liability,
participations, and environmental pollution.
While it is not feasible to predict or determine the outcome of all pending or threatened legal proceedings,
regulatory and governmental proceedings, the company is of the opinion that the cases described below may
have, or have had in the recent past, a significant impact on the company\u2019s consolidated financial position,
results of operations and cash flows.
Respironics recall
On June 14, 2021, Philips subsidiary Philips RS North America LLC (Philips Respironics) issued a voluntary recall
notification in the US and field safety notice outside the US for specific Philips Respironics CPAP, Bi-Level PAP,
and mechanical ventilator devices (the \u201cRecalled Devices\u201d).
Consent decree
On August 26, 2021, the US Food and Drug Administration (FDA) commenced an inspection of the Philips
Respironics manufacturing facility in Murrysville, Pennsylvania, and provided Philips Respironics with its
preliminary inspectional observations on November 9, 2021. In 2024, Philips Respironics reached an agreement
with the US Department of Justice (DoJ), acting on behalf of the FDA, regarding the terms of a consent decree
to resolve the identified issues in relation to the inspection.
DOJ investigation; state Attorneys General investigation
Philips Respironics and certain of Philips' subsidiaries in the US continue to cooperate with a criminal and civil
investigation triggered by a subpoena received from the DOJ in 2022 to provide information related to events
leading to the Respironics recall. In addition, the same entities are cooperating with an investigation initiated
in 2024 by certain US state Attorneys General into trade practices related to the products subject of the
Respironics recall. While the outflow of economic resources in connection with these investigations is assessed
as probable, given the current stage of the investigations, the company is not able to reliably estimate the
financial impact.
Product liability claims
Following the voluntary recall notification, a number of civil complaints have been filed in several jurisdictions
against Philips Respironics and certain of its affiliates (including the company) generally alleging economic
loss, personal injury and/or the potential for personal injury allegedly caused by the recalled devices.
In the US, consumer and commercial class action lawsuits have been filed alleging economic loss and medical
monitoring claims. Individual personal injury lawsuits have also been filed. On October 8, 2021, a Multi-District
Litigation (MDL) in the US District Court for the Western District of Pennsylvania was formed, and most of
these class action and personal injury lawsuits have been consolidated in the MDL for pre-trial proceedings.
On September 7, 2023, Philips Respironics reached agreement on a class action settlement in relation to the
economic loss class action complaint, for which the company recorded a EUR 575\u00a0million provision in the first
quarter of 2023. The claims period concluded on August 9, 2024, and since then, the Claims Administrator has
been processing claims, calculating relevant payment amounts, and making payments to eligible class
members.
On May 9, 2024, Philips Respironics reached agreement on a class action settlement in relation to the medical
monitoring class action complaint. Under the agreement, which became final in January 2025, the Philips
defendants agreed to pay a capped amount of USD 25\u00a0million into a Qualified Settlement Fund for the
benefit of eligible class members.
Also on May 9, 2024, Philips Respironics reached agreement on a private settlement in relation to US personal
injury claims. Under the agreement, the Philips defendants have agreed to pay USD 1.075\u00a0billion to consist of
USD 25\u00a0million in notice and administrative costs and USD 1.050\u00a0billion into a Personal Injury Settlement Fund.
The settlement became final as at the registration deadline on January 31, 2025, registrations exceeded the
required 95% of eligible claimants, and payment occurred in the first half of 2025. For those individuals who
declined to participate in, or are ineligible for, the settlement, and who wish to litigate their personal injury
claims, they will need to identify themselves after the registration deadline and then comply with court orders
imposing certain discovery obligations on them, including with respect to early disclosure of their evidence on
causation.
Philips Respironics and certain of its affiliates (including the company) continue to be defendants in consumer
class action lawsuits in Australia and Canada and collective or group actions in Chile, France, Germany, Italy
and the Netherlands, alleging economic loss and/or personal injury. In 2025, a class action in Israel was
resolved while a class action filed in Italy was dismissed by the court and is pending appeal.
While the company believes it is probable that ongoing lawsuits will in the aggregate lead to an outflow of
economic resources for Philips Respironics or other Philips entities, given the significant uncertainty regarding
the nature of the relevant events and potential obligations, the company is not currently able to reliably
estimate the amount of the obligation associated with these various lawsuits. The final outcome of the
lawsuits and the remaining cost to resolve them cannot currently be determined due to a number of variables,
including the early stages of some of these proceedings and uncertainty regarding the number of remaining
claimants, their allegations, and their alleged injuries. The courts have not yet been asked to decide the
question of whether any of the claimed injuries could have been caused by use of the recalled devices.
In 2024, the company and its insurance carriers reached an agreement on the basis of which the insurance
carriers agreed to contribute EUR 540\u00a0million to cover product liability-related cash flows related to the
Respironics recall. This amount was paid in full to the company in 2024.
Securities claims
On August 16, 2021, a securities class action complaint was filed against the company, its former CEO and its
former CFO in the US District Court for the Eastern District of New York alleging violations of the Securities
Exchange Act of 1934 causing damage to investors. On September 23, 2024, following amendments to the
complaint, the court issued a decision dismissing all claims against the company\u2019s former CFO and the former
head of Philips Respironics but denying in part the motion to dismiss with respect to the company and its
former CEO. The Court narrowed the class period and dismissed all claims based on statements made before
2018. The Court also dismissed all claims relating to certain categories of alleged misstatements. On October
28, 2024, the company and its former CEO moved for reconsideration of that portion of the decision denying
their motion, and that motion was denied in November 2025. On February 28, 2025, plaintiffs moved for class
certification, and that motion remains pending. On December 15, 2025, plaintiffs moved for leave to file a
further amended complaint that would add certain additional allegations and the company\u2019s current CEO as a
defendant; the proposed amendment would not change the proposed class period. The Court granted
plaintiffs\u2019 motion for leave to amend and plaintiffs filed their amended complaint on December 29, 2025. On
January 30, 2026, defendants filed a motion to dismiss the further amended complaint.
In the Netherlands, six different parties (primarily commercially motivated litigation funders and investor
advocacy organizations) representing both retail and institutional investors have approached the company,
holding the company and its directors liable for alleged misstatements and failures to make timely disclosures
in relation to the Respironics recall. As of December 31, 2025, two parties have filed a civil complaint with the
Amsterdam District Court. In addition, on December 31, 2025, the VEB, also on behalf of certain retail and
institutional investors, filed a request for inquiry proceedings with the Enterprise Chamber of the Amsterdam
Court of Appeal. On January 9, 2026 and January 14, 2026, similar requests were filed by Vanguard on behalf
of certain funds they manage and by Grant & Eisenhofer P.A. and Old Haven Funding LLC on behalf of certain
investors.
It is the company\u2019s assessment that it is possible but not probable that these cases could lead to a certain
outflow of economic resources. The company is not able to reliably estimate the financial impact, if any. An
adverse outcome of these cases could have a material impact on the company\u2019s consolidated financial
position, results of operations and cash flows.
SEC investigation
Following earlier requests for information from the US Securities and Exchange Commission (SEC), in March
2024, the company received a subpoena from the SEC relating to the Respironics recall and compliance with
relevant securities laws. The investigation is not an indication that the SEC or its staff have determined that
any violations of law have occurred. The company is fully cooperating with the investigation. It is the
company's assessment that it is possible but not probable that this investigation could lead to certain outflow
of resources. The company is not able to reliably estimate the financial impact, if any.
Other claims
On October 12, 2021, SoClean, a company offering ozone-based cleaning products for sleep devices, filed a
lawsuit in the US against the company and certain of its affiliates alleging that the defendants\u2019 statements
about the potential adverse effect ozone cleaning may have on the recalled devices has significantly damaged
its business. Philips believes that the claim is without merit. In November 2023, the court ruled on one of the
motions to dismiss filed by defendants and partially dismissed some of SoClean\u2019s claims. On January 4, 2024,
Philips and its affiliates filed their answer and counterclaims against SoClean and one of its affiliates. In
October 2024, the court partially dismissed some of the counterclaims. Philips and its affiliates are also
pursuing claims against SoClean and one of its affiliates for contribution for personal injury settlement costs
and/or personal injury liability incurred by the company or its affiliates. As of December 31, 2025, Philips and
SoClean have reached an agreement in principle, subject to documentation, to mutually resolve all pending
litigation between them.
Other
In the second half of 2023, Electro Medical Systems S.A., a manufacturer of, among others, medical devices for
dental prophylaxis, filed a lawsuit against the company alleging that the company materially breached its
duties under a cooperation agreement entered into between the parties in 2016, claiming damages in excess
of EUR 300\u00a0million, alleging loss of profit and lost increase in brand value. Philips disagrees with the
allegations and has submitted its statement of defense in June 2024. A first Court hearing took take place in
the first half of 2025. The case is now pending further instructions from the court.
Miscellaneous
For details on other contractual obligations, please refer to liquidity risk in Details of treasury and other
financial risks
29Details of treasury and other financial risks
Liquidity risk
The accompanying table presents a summary of the Group\u2019s fixed contractual cash obligations and
commitments as of December\u00a031, 2025. These amounts are an estimate of future payments which could
change as a result of various factors such as a change in interest rates, foreign exchange, and contractual
provisions, as well as changes in business strategy and needs. Therefore, the actual payments made in future
periods may vary from those presented.
Philips Group
Contractual cash obligations 1 2 in millions of EUR
2025
Payments due by period
Total
Less than 1 year
1-3 years
3-5 years
After 5 years
Long-term debt
7,086
1,630
1,806
3,650
Short-term debt
1,174
1,174
Interest on debt
1,765
216
402
361
786
Derivative liabilities
36
35
1
-
-
Purchase obligations \u00b3
1,189
293
390
306
200
Trade and other payables
1,927
1,927
Contractual cash
obligations
13,177
3,645
2,423
2,473
4,636
Philips Group
Contractual cash obligations 1 2 in millions of EUR
2024
Payments due by period
Total
Less than 1 year
1-3 years
3-5 years
After 5 years
Long-term debt
7,168
2,006
1,338
3,824
Short-term debt
525
525
Interest on debt
1,792
197
368
325
902
Derivative liabilities
72
64
8
-
-
Purchase obligations \u00b3
1,161
300
307
210
344
Trade and other payables
1,830
1,830
Contractual cash
obligations
12,548
2,916
2,689
1,873
5,070
1Amounts in this table are undiscounted
2This table excludes post-employment benefit plan contribution commitments, contingent consideration and income tax
liabilities in respect of tax risks because it is not possible to make a reasonably reliable estimate of the actual period of cash
settlement.
3Purchase obligations are agreements to purchase goods or services that are enforceable and legally binding for the Group. They
specify all significant terms, including fixed or minimum quantities to be purchased, fixed, minimum or variable price provisions
and the approximate timing of the transaction. They do not include open purchase orders or other commitments which do not
specify all significant terms.
Philips has contracts with investment funds where it committed itself to make, under certain conditions,
capital contributions to these funds of an aggregated remaining amount of EUR 112 million (2024: EUR 130
million). As of December\u00a031, 2025, capital contributions already made to these investment funds are recorded
as non-current financial assets.
Philips offers voluntary supply chain finance programs for certain US dollar, euro, Swedish krona and Brazilian
real third parties which provide participating suppliers the opportunity to factor their trade receivables at the
sole discretion of both the suppliers and the third parties. Philips continues to recognize these liabilities as
trade payables and settles them accordingly on the invoice maturity date based on the terms and conditions
of those arrangements. As of December 31, 2025, approximately EUR 117 million (2024: EUR 97 million ) of the
Philips account payable were transferred under these arrangements.
Philips Group
Carrying amount of financial liabilities 1 in millions of EUR
2025
2024
Presented in accounts payables:
117
97
- of which suppliers have received payment from finance provider
99
85
Philips Group
Range of payment due dates
2025
2024
Liabilities that are part of the arrangements
60-135 days
30-135 days
Comparable trade payables that are not part of the arrangements
0-140 days
0-135 days
1There were no material business combinations or foreign exchange differences during the year.
With respect to the Respironics field action, please refer to Contingencies. The management continues to
monitor the risks associated with such potential claims and its impact on liquidity position, if any.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-795": { "value": "
24Contingencies
\"Icon_Accounting
Accounting policies
Financial guarantees
Philips\u2019 policy is to provide guarantees and other letters of support only in writing. Philips does not stand by
other forms of support. The company recognizes a liability at the fair value of the obligation at the inception
of a financial guarantee contract. The guarantee is subsequently measured at the higher of the best estimate
of the obligation or the amount initially recognized less, when appropriate, cumulative amortization.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialGuaranteesExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-794": { "value": "
24Contingencies
\"Icon_Accounting
Accounting policies
Financial guarantees
Philips\u2019 policy is to provide guarantees and other letters of support only in writing. Philips does not stand by
other forms of support. The company recognizes a liability at the fair value of the obligation at the inception
of a financial guarantee contract. The guarantee is subsequently measured at the higher of the best estimate
of the obligation or the amount initially recognized less, when appropriate, cumulative amortization.
Guarantees
The total fair value of guarantees recognized on the balance sheet amounts to EUR 2 million (December 31,
2024: nil). Remaining off-balance-sheet business related guarantees on behalf of third parties and associates
amounted to EUR 4 million as of December\u00a031, 2025, (December\u00a031, 2024 : EUR 343 million). The decrease
compared to the prior year primarily reflects that the insurance\u2011related product\u2011liability exposure associated
with the Respironics recall was settled and, accordingly, was no longer outstanding as of December\u202f31,\u202f2025
For details on other contractual obligations, please refer to liquidity risk in Details of treasury and other
financial risks
29Details of treasury and other financial risks
The accompanying table presents a summary of the Group\u2019s fixed contractual cash obligations and
commitments as of December\u00a031, 2025. These amounts are an estimate of future payments which could
change as a result of various factors such as a change in interest rates, foreign exchange, and contractual
provisions, as well as changes in business strategy and needs. Therefore, the actual payments made in future
periods may vary from those presented.
Philips Group
Contractual cash obligations 1 2 in millions of EUR
2025
Payments due by period
Total
Less than 1 year
1-3 years
3-5 years
After 5 years
Long-term debt
7,086
1,630
1,806
3,650
Short-term debt
1,174
1,174
Interest on debt
1,765
216
402
361
786
Derivative liabilities
36
35
1
-
-
Purchase obligations \u00b3
1,189
293
390
306
200
Trade and other payables
1,927
1,927
Contractual cash
obligations
13,177
3,645
2,423
2,473
4,636
Philips Group
Contractual cash obligations 1 2 in millions of EUR
2024
Payments due by period
Total
Less than 1 year
1-3 years
3-5 years
After 5 years
Long-term debt
7,168
2,006
1,338
3,824
Short-term debt
525
525
Interest on debt
1,792
197
368
325
902
Derivative liabilities
72
64
8
-
-
Purchase obligations \u00b3
1,161
300
307
210
344
Trade and other payables
1,830
1,830
Contractual cash
obligations
12,548
2,916
2,689
1,873
5,070
1Amounts in this table are undiscounted
2This table excludes post-employment benefit plan contribution commitments, contingent consideration and income tax
liabilities in respect of tax risks because it is not possible to make a reasonably reliable estimate of the actual period of cash
settlement.
3Purchase obligations are agreements to purchase goods or services that are enforceable and legally binding for the Group. They
specify all significant terms, including fixed or minimum quantities to be purchased, fixed, minimum or variable price provisions
and the approximate timing of the transaction. They do not include open purchase orders or other commitments which do not
specify all significant terms.
Philips has contracts with investment funds where it committed itself to make, under certain conditions,
capital contributions to these funds of an aggregated remaining amount of EUR 112 million (2024: EUR 130
million). As of December\u00a031, 2025, capital contributions already made to these investment funds are recorded
as non-current financial assets.
Philips offers voluntary supply chain finance programs for certain US dollar, euro, Swedish krona and Brazilian
real third parties which provide participating suppliers the opportunity to factor their trade receivables at the
sole discretion of both the suppliers and the third parties. Philips continues to recognize these liabilities as
trade payables and settles them accordingly on the invoice maturity date based on the terms and conditions
of those arrangements. As of December 31, 2025, approximately EUR 117 million (2024: EUR 97 million ) of the
Philips account payable were transferred under these arrangements.
Philips Group
Carrying amount of financial liabilities 1 in millions of EUR
2025
2024
Presented in accounts payables:
117
97
- of which suppliers have received payment from finance provider
99
85
Philips Group
Range of payment due dates
2025
2024
Liabilities that are part of the arrangements
60-135 days
30-135 days
Comparable trade payables that are not part of the arrangements
0-140 days
0-135 days
1There were no material business combinations or foreign exchange differences during the year.
With respect to the Respironics field action, please refer to Contingencies. The management continues to
monitor the risks associated with such potential claims and its impact on liquidity position, if any.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-797": { "value": "
25Related-party transactions
In the normal course of business, Philips purchases and sells goods and services from/to various related parties in
which Philips typically holds between 20% and 50% equity interest and has significant influence. These
transactions are generally conducted with terms comparable to transactions with third parties.
Philips Group
Related-party transactions in millions of EUR
2025
2024
2023
Sales of goods and services
146
89
106
Purchases of goods and services
50
50
42
Receivables from related parties
19
25
18
Payables to related parties
-
2
2
Philips founded three Philips Medical Capital (PMC) entities, in the US, France and Germany, in which Philips
holds a minority interest. Philips Medical Capital, LLC in the US is the most significant entity. The above table
includes sales transactions between Philips and PMC of EUR 146 million in 2025 (2024: EUR 88 million ; 2023:
EUR 87 million ), under which PMC has leased the equipment to the ultimate customer. In addition, as part of
its S&RC operations in the US, PMC funded durable medical equipment (DMEs) providers, through loans and
leases. PMC-funded transactions these DMEs entered into with Philips amount to EUR 70 million in 2025 (2024:
EUR 75 million ; 2023: EUR 117 million). The associated costs of these funding transactions are borne by the
ultimate customer and settled directly with PMC.
On August 14, 2023, it was announced that Exor N.V. acquired a 15% minority stake in Philips shares and
entered into a relationship agreement with the company. Pursuant to the relationship agreement with the
company, Exor N.V. proposed one member to the Supervisory Board, who was confirmed at the Annual
General Meeting of Shareholders on May 7, 2024. From this date, Exor is considered a related party for
reporting purposes. For remuneration details of Beno\u00eet Ribadeau-Dumas as the Exor nominee see Information
on remuneration. Exor has agreed to maintain its shareholding of at least 15% up to 20% for three years
from August 13, 2023. Philips did not have other reportable transactions with Exor during the period ended
December\u00a031, 2025.
In light of the composition of the Executive Committee, the company considers the members of the Executive
Committee and the Supervisory Board to be the key management personnel as defined in IAS 24 Related
party disclosures.
For remuneration details of the Executive Committee, the Board of Management and the Supervisory Board
see Information on remuneration.
For post-employment benefit plans see Post-employment benefits
27Information on remuneration
Remuneration of the Executive Committee
In 2025 , the total remuneration costs relating to the Executive Committee (consisting of 14 members
throughout the year, including the members of the Board of Management) amounted to EUR 42 million
(2024 : EUR 32 million; 2023 : EUR 33 million) and consisted of the elements in the following table.
Philips Group
Remuneration costs of the Executive Committee 1 in EUR
2025
2024
2023
Base salary/Base compensation
9,734,874
9,362,765
8,729,458
Annual incentive \u00b2
8,639,381
5,292,388
11,405,130
Performance shares \u00b3
21,180,588
12,673,614
7,272,815
Stock options
42,805
90,503
13,358
Restricted share rights \u00b3
266,414
999,374
1,907,511
Pension allowances \u2074
1,246,863
1,197,695
1,346,937
Pension scheme costs
226,177
269,092
260,554
Other compensation \u2075
1,050,399
2,136,668
1,900,224
Total
42,387,499
32,022,099
32,835,987
1The Executive Committee consisted of 14 members as per December\u00a031, 2025 (2024 : 13 members; 2023: 13 members)
2The annual incentives are related to the performance in the year reported which are paid out in the subsequent year.
3Costs of performance shares and restricted share rights are based on accounting standards (IFRS) and do not reflect the value of
performance shares at the vesting/release date
4Pension allowances are gross taxable allowances paid to the Executive Committee members in the Netherlands. These
allowances are part of the pension arrangement
5The stated amounts mainly concern (share of) allowances to members of the Executive Committee that can be considered as
remuneration. In a situation where such a share of an allowance can be considered as (indirect) remuneration (for example,
private use of the company car), then the share is both valued and accounted for here. The method employed by the fiscal
authorities is the starting point for the value stated.
Remuneration of the Board of Management
In 2025, the total remuneration costs relating to the members of the Board of Management amounted to EUR
13 million (2024: EUR 10 million; 2023: EUR 10 million).
Remuneration of the Supervisory Board
The remuneration of the members of the Supervisory Board amounted to EUR 1.8 million (2024: EUR 1.7
million; 2023: EUR 1.5 million). Former members received no remuneration. The members of the Supervisory
Board do not receive any share-based remuneration. Therefore, as of December\u00a031, 2025, the members of the
Supervisory Board held no stock options, performance shares or restricted shares.
Supervisory Board members\u2019 and Board of Management members\u2019 interests in Philips shares
Members of the Supervisory Board and of the Board of Management are prohibited from writing call and put
options or similar derivatives of Philips securities.
Philips Group
Shares held by Board members 1 2 in number of shares
December 31, 2025
December 31, 2024
R.W.O. Jakobs
147,397
134,298
M.J. van Ginneken
147,126
137,753
P.A. Stoffels
19,143
18,366
S.J. Poonen
11,899
3,240
I.K. Nooyi
3,489
3,348
D. Pyott
Retired
20,526
S.K. Chua
2,251
2,160
F. Sijbesma
25,854
25,854
A.M. Harrison
1,688
1,620
P. L\u00f6scher
23,345
22,398
1Reference date for board membership is December\u00a031, 2025
2The total shares held by the members of the Board of Management is less than 1% of the company's issued share capital.
", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-798": { "value": "
25Related-party transactions
In the normal course of business, Philips purchases and sells goods and services from/to various related parties in
which Philips typically holds between 20% and 50% equity interest and has significant influence. These
transactions are generally conducted with terms comparable to transactions with third parties.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithRelatedPartiesExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-799": { "value": "
26Share-based compensation
\"Icon_Accounting
Accounting policies
Philips\u2019 share-based compensation is an equity-settled plan made of restricted and performance shares. The
restricted shares are subject to a three-year service condition and the performance shares include both market
and non-market-based performance conditions, in addition to a three-year service condition. These shares are
awarded to the Executive Committee and senior management.
The grant date fair value of market-based performance shares is determined through a Monte Carlo valuation
model. The grant date fair value of non-market-based performance shares and restricted shares is determined
as the share price at the grant date as participants receive notional dividends throughout the vesting period.
The costs of share-based compensation plans are revised for expected performance (non-market-based
performance shares) and forfeiture and are spread evenly over the service period.
Share-based compensation is recognized over the service period as personnel expense in the consolidated
statement of income, with a corresponding increase to equity.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-800": { "value": "
27Information on remuneration
Remuneration of the Executive Committee
In 2025 , the total remuneration costs relating to the Executive Committee (consisting of 14 members
throughout the year, including the members of the Board of Management) amounted to EUR 42 million
(2024 : EUR 32 million; 2023 : EUR 33 million) and consisted of the elements in the following table.
Philips Group
Remuneration costs of the Executive Committee 1 in EUR
2025
2024
2023
Base salary/Base compensation
9,734,874
9,362,765
8,729,458
Annual incentive \u00b2
8,639,381
5,292,388
11,405,130
Performance shares \u00b3
21,180,588
12,673,614
7,272,815
Stock options
42,805
90,503
13,358
Restricted share rights \u00b3
266,414
999,374
1,907,511
Pension allowances \u2074
1,246,863
1,197,695
1,346,937
Pension scheme costs
226,177
269,092
260,554
Other compensation \u2075
1,050,399
2,136,668
1,900,224
Total
42,387,499
32,022,099
32,835,987
1The Executive Committee consisted of 14 members as per December\u00a031, 2025 (2024 : 13 members; 2023: 13 members)
2The annual incentives are related to the performance in the year reported which are paid out in the subsequent year.
3Costs of performance shares and restricted share rights are based on accounting standards (IFRS) and do not reflect the value of
performance shares at the vesting/release date
4Pension allowances are gross taxable allowances paid to the Executive Committee members in the Netherlands. These
allowances are part of the pension arrangement
5The stated amounts mainly concern (share of) allowances to members of the Executive Committee that can be considered as
remuneration. In a situation where such a share of an allowance can be considered as (indirect) remuneration (for example,
private use of the company car), then the share is both valued and accounted for here. The method employed by the fiscal
authorities is the starting point for the value stated.
Remuneration of the Board of Management
In 2025, the total remuneration costs relating to the members of the Board of Management amounted to EUR
13 million (2024: EUR 10 million; 2023: EUR 10 million).
Remuneration of the Supervisory Board
The remuneration of the members of the Supervisory Board amounted to EUR 1.8 million (2024: EUR 1.7
million; 2023: EUR 1.5 million). Former members received no remuneration. The members of the Supervisory
Board do not receive any share-based remuneration. Therefore, as of December\u00a031, 2025, the members of the
Supervisory Board held no stock options, performance shares or restricted shares.
Supervisory Board members\u2019 and Board of Management members\u2019 interests in Philips shares
Members of the Supervisory Board and of the Board of Management are prohibited from writing call and put
options or similar derivatives of Philips securities.
Philips Group
Shares held by Board members 1 2 in number of shares
December 31, 2025
December 31, 2024
R.W.O. Jakobs
147,397
134,298
M.J. van Ginneken
147,126
137,753
P.A. Stoffels
19,143
18,366
S.J. Poonen
11,899
3,240
I.K. Nooyi
3,489
3,348
D. Pyott
Retired
20,526
S.K. Chua
2,251
2,160
F. Sijbesma
25,854
25,854
A.M. Harrison
1,688
1,620
P. L\u00f6scher
23,345
22,398
1Reference date for board membership is December\u00a031, 2025
2The total shares held by the members of the Board of Management is less than 1% of the company's issued share capital.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-803": { "value": "
28Fair value of financial assets and liabilities
\"Icon_Accounting
Accounting policies
Fair value hierarchy
For financial reporting purposes, financial instruments are categorized into Level 1, 2 or 3, based on the
degree to which the inputs to the fair value measurements are observable and the significance of the inputs
to the fair value measurement in its entirety, which are as follows:
\u2022 Level 1: inputs are quoted prices (unadjusted) for identical assets or liabilities in active markets that the
company can access at the measurement date
\u2022 Level 2: all significant inputs (other than quoted prices included within Level 1) are observable for the asset
or liability, either directly (as prices) or indirectly (derived from prices)
\u2022 Level 3: one or more of the significant inputs are not based on observable market data, such as third-party
pricing information without adjustments, for the asset or liability
Transfers between Level 1, Level 2, and Level 3 of the fair value hierarchy are recognized at the end of the
reporting period in which the change occurred. Transfers are made when there is a change in the
observability of inputs, such as:
\u2022 Into Level 1: When quoted prices in active markets become available.
\u2022 Out of Level 1: When quoted prices are no longer available or markets become inactive.
\u2022 Into or out of Level 3: When significant inputs become observable or unobservable.
There were no transfers between levels during the years ended December 31, 2025, and December 31, 2024.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-802": { "value": "
28Fair value of financial assets and liabilities
\"Icon_Accounting
Accounting policies
Fair value hierarchy
For financial reporting purposes, financial instruments are categorized into Level 1, 2 or 3, based on the
degree to which the inputs to the fair value measurements are observable and the significance of the inputs
to the fair value measurement in its entirety, which are as follows:
\u2022 Level 1: inputs are quoted prices (unadjusted) for identical assets or liabilities in active markets that the
company can access at the measurement date
\u2022 Level 2: all significant inputs (other than quoted prices included within Level 1) are observable for the asset
or liability, either directly (as prices) or indirectly (derived from prices)
\u2022 Level 3: one or more of the significant inputs are not based on observable market data, such as third-party
pricing information without adjustments, for the asset or liability
Transfers between Level 1, Level 2, and Level 3 of the fair value hierarchy are recognized at the end of the
reporting period in which the change occurred. Transfers are made when there is a change in the
observability of inputs, such as:
\u2022 Into Level 1: When quoted prices in active markets become available.
\u2022 Out of Level 1: When quoted prices are no longer available or markets become inactive.
\u2022 Into or out of Level 3: When significant inputs become observable or unobservable.
There were no transfers between levels during the years ended December 31, 2025, and December 31, 2024.
Accounting estimates and judgments
Determining the fair value of financial instruments requires the use of estimates according to the method
applied for each type of financial asset of liability. The estimated fair value of financial instruments has been
determined by the company using available market information and appropriate valuation methods. The
estimates presented are not necessarily indicative of the amounts that will ultimately be realized by the
company upon maturity or disposal. The use of different market assumptions and/or estimation methods may
have a material effect on the estimated fair value amounts.
Specific valuation techniques used to value financial instruments include:
Level 1
Instruments included in level 1 are composed primarily of listed equity investments classified as financial assets
carried at fair value through profit or loss or carried at fair value through other comprehensive income (OCI).
The fair value of financial instruments traded in active markets is based on quoted market prices at the
balance sheet date. A market is regarded as active if quoted prices are readily and regularly available from an
exchange, dealer, broker, industry group, pricing service, or regulatory agency, and those prices represent
actual and regularly occurring market transactions on an arm\u2019s length basis.
Level 2
The fair value of financial instruments that are not traded in an active market (for example, over-the-counter
derivatives or convertible bond instruments) is determined by using valuation techniques. These valuation
techniques maximize the use of observable market data where it is available and rely as little as possible on
entity-specific estimates. If all significant inputs required to fair value an instrument are based on observable
market data, the instrument is included in level 2. The fair value of derivatives is calculated as the present
value of the estimated future cash flows based on observable interest yield curves, basis spread and foreign
exchange rates. The valuation of convertible bond instruments uses observable market quoted data for the
options and present value calculations using observable yield curves for the fair value of the bonds.
The fair value of debt is estimated on the basis of the quoted market prices for certain issuances, or on the
basis of discounted cash flow analysis using market rates plus Philips\u2019 spread for the particular tenors of the
borrowing arrangement. Accrued interest is not included within the carrying amount or estimated fair value
of debt.
Level 3
If one or more of the significant inputs are not based on observable market data, such as third-party pricing
information without adjustments, the instrument is included in level 3.
For financial instruments measured at Level 3, where quoted market prices are not available, Philips applies
valuation techniques such as discounted cash flow (DCF) models and market multiple approaches. These
valuation techniques reflect current market conditions at the reporting date and incorporate the best
available data. Significant unobservable inputs used in these valuations may include assumptions regarding
revenue growth, discount rates, credit risk adjustments, capture rates, forward prices, earnings multiples, and
liquidity discounts.
Contingent consideration represents the fair value of expected payments to former shareholders of an
acquired company, conditional upon the occurrence of specified future events or the fulfillment of certain
conditions \u2013 such as achieving regulatory or commercial milestones. The terms of each acquisition agreement
define these milestones, which may trigger additional payments if met. The fair value of contingent
consideration is generally determined using a probability-weighted and risk-adjusted approach to estimate
the likelihood of achieving future milestones. For commercial milestones, the discount rates applied in the
risk-adjusted approach reflect the inherent risks associated with their achievement, while both regulatory and
commercial milestones are discounted for the time value of money at risk-free rates. Contingent consideration
can fluctuate significantly, driven by changes in the estimated probability of milestone achievement and
adjustments to discount rates. Changes in the fair value of the contingent consideration liability are
recognized in other business income (expenses). The measurement of fair value is based on management\u2019s
estimates and assumptions, and accordingly classified as Level 3 in the fair value hierarchy.
The accompanying table shows the carrying amounts and fair values of financial assets and financial liabilities,
including their levels in the fair value hierarchy. Fair value information for financial assets and financial
liabilities not carried at fair value is not included if the carrying amount is a reasonable approximation of fair
value. For cash and cash equivalents, loans and receivables, accounts payable, interest accrual and debt
(excluding bonds and leases), the carrying amounts approximate fair value because of the nature of these
instruments (including maturity and interest conditions) and therefore estimated fair value information is not
included.
Philips Group
Fair value of financial assets and liabilities in millions of EUR\u00a0
as of December 31,
2025
2024
Carrying amount
Estimated fair value
Level 1
Level 2
Level 3
Carrying amount
Estimated fair value
Financial assets
Carried at fair value:
Debt instruments
302
302
302
231
231
Equity instruments
2
2
2
3
3
Other financial assets
76
76
53
23
54
54
Financial assets carried at FVTP&L
380
380
53
328
288
288
Debt instruments
8
8
8
21
21
Equity instruments
213
213
2
212
222
222
Current financial assets
-
-
-
2
2
Receivables - current
13
13
13
-
-
Receivables - non-current
17
17
17
Financial assets carried at FVTOCI
252
252
2
38
212
244
244
Derivative financial instruments
99
99
82
17
77
77
Financial assets carried at fair value
731
731
2
173
556
609
609
Carried at (amortized) cost:
Cash and cash equivalents
2,794
2,401
Loans and receivables:
Other non-current loans and receivables
103
102
Receivables - current
3,517
3,672
Receivables - non-current
193
208
Financial assets carried at (amortized) cost
6,607
6,382
Total financial assets
7,338
6,992
Financial liabilities
Carried at fair value:
Contingent consideration
(111)
(111)
(111)
(113)
(113)
Financial liabilities carried at FVTP&L
(111)
(111)
(111)
(113)
(113)
Derivative financial instruments
(39)
(39)
(39)
(63)
(63)
Financial liabilities carried at fair value
(149)
(149)
(39)
(111)
(176)
(176)
Carried at (amortized) cost:
Accounts payable
(1,927)
(1,830)
Interest accrual
(95)
(83)
Debt (Corporate bonds and leases)
(7,757)
(7,818)
(6,854)
(963)
(7,397)
(7,363)
Debt (excluding corporate bonds and leases)
(327)
(241)
Financial liabilities carried at (amortized) cost
(10,107)
(9,551)
Total financial liabilities
(10,257)
(9,728)
The accompanying table shows the reconciliation from the beginning balance to the end balance for Level 3
fair value measurements.
Philips Group
Reconciliation of Level 3 fair value measurements in millions of EUR
2025
2024
Financial
assets
Financial
liabilities
Financial
assets
Financial
liabilities
Balance as of January 1
460
113
503
115
Acquisitions
Purchase
127
86
Sales
(44)
(48)
Utilizations
(1)
(9)
Recognized in profit and loss:
other business income
3
2
financial income and expenses \u00b9
(17)
1
(23)
3
Recognized in other comprehensive income \u00b2
(43)
(5)
(8)
3
Receivables held to collect and sell
(32)
Reclassification
74
(18)
-
Balance as of December 31
556
111
460
113
1Refer to Financial income and expenses for details.\u00a0
2Includes translation differences
", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-801": { "value": "
28Fair value of financial assets and liabilities
\"Icon_Accounting
Accounting policies
Fair value hierarchy
For financial reporting purposes, financial instruments are categorized into Level 1, 2 or 3, based on the
degree to which the inputs to the fair value measurements are observable and the significance of the inputs
to the fair value measurement in its entirety, which are as follows:
\u2022 Level 1: inputs are quoted prices (unadjusted) for identical assets or liabilities in active markets that the
company can access at the measurement date
\u2022 Level 2: all significant inputs (other than quoted prices included within Level 1) are observable for the asset
or liability, either directly (as prices) or indirectly (derived from prices)
\u2022 Level 3: one or more of the significant inputs are not based on observable market data, such as third-party
pricing information without adjustments, for the asset or liability
Transfers between Level 1, Level 2, and Level 3 of the fair value hierarchy are recognized at the end of the
reporting period in which the change occurred. Transfers are made when there is a change in the
observability of inputs, such as:
\u2022 Into Level 1: When quoted prices in active markets become available.
\u2022 Out of Level 1: When quoted prices are no longer available or markets become inactive.
\u2022 Into or out of Level 3: When significant inputs become observable or unobservable.
There were no transfers between levels during the years ended December 31, 2025, and December 31, 2024.
\"Icon_Accounting
Accounting estimates and judgments
Determining the fair value of financial instruments requires the use of estimates according to the method
applied for each type of financial asset of liability. The estimated fair value of financial instruments has been
determined by the company using available market information and appropriate valuation methods. The
estimates presented are not necessarily indicative of the amounts that will ultimately be realized by the
company upon maturity or disposal. The use of different market assumptions and/or estimation methods may
have a material effect on the estimated fair value amounts.
Specific valuation techniques used to value financial instruments include:
Level 1
Instruments included in level 1 are composed primarily of listed equity investments classified as financial assets
carried at fair value through profit or loss or carried at fair value through other comprehensive income (OCI).
The fair value of financial instruments traded in active markets is based on quoted market prices at the
balance sheet date. A market is regarded as active if quoted prices are readily and regularly available from an
exchange, dealer, broker, industry group, pricing service, or regulatory agency, and those prices represent
actual and regularly occurring market transactions on an arm\u2019s length basis.
Level 2
The fair value of financial instruments that are not traded in an active market (for example, over-the-counter
derivatives or convertible bond instruments) is determined by using valuation techniques. These valuation
techniques maximize the use of observable market data where it is available and rely as little as possible on
entity-specific estimates. If all significant inputs required to fair value an instrument are based on observable
market data, the instrument is included in level 2. The fair value of derivatives is calculated as the present
value of the estimated future cash flows based on observable interest yield curves, basis spread and foreign
exchange rates. The valuation of convertible bond instruments uses observable market quoted data for the
options and present value calculations using observable yield curves for the fair value of the bonds.
The fair value of debt is estimated on the basis of the quoted market prices for certain issuances, or on the
basis of discounted cash flow analysis using market rates plus Philips\u2019 spread for the particular tenors of the
borrowing arrangement. Accrued interest is not included within the carrying amount or estimated fair value
of debt.
Level 3
If one or more of the significant inputs are not based on observable market data, such as third-party pricing
information without adjustments, the instrument is included in level 3.
For financial instruments measured at Level 3, where quoted market prices are not available, Philips applies
valuation techniques such as discounted cash flow (DCF) models and market multiple approaches. These
valuation techniques reflect current market conditions at the reporting date and incorporate the best
available data. Significant unobservable inputs used in these valuations may include assumptions regarding
revenue growth, discount rates, credit risk adjustments, capture rates, forward prices, earnings multiples, and
liquidity discounts.
Contingent consideration represents the fair value of expected payments to former shareholders of an
acquired company, conditional upon the occurrence of specified future events or the fulfillment of certain
conditions \u2013 such as achieving regulatory or commercial milestones. The terms of each acquisition agreement
define these milestones, which may trigger additional payments if met. The fair value of contingent
consideration is generally determined using a probability-weighted and risk-adjusted approach to estimate
the likelihood of achieving future milestones. For commercial milestones, the discount rates applied in the
risk-adjusted approach reflect the inherent risks associated with their achievement, while both regulatory and
commercial milestones are discounted for the time value of money at risk-free rates. Contingent consideration
can fluctuate significantly, driven by changes in the estimated probability of milestone achievement and
adjustments to discount rates. Changes in the fair value of the contingent consideration liability are
recognized in other business income (expenses). The measurement of fair value is based on management\u2019s
estimates and assumptions, and accordingly classified as Level 3 in the fair value hierarchy.
The accompanying table shows the carrying amounts and fair values of financial assets and financial liabilities,
including their levels in the fair value hierarchy. Fair value information for financial assets and financial
liabilities not carried at fair value is not included if the carrying amount is a reasonable approximation of fair
value. For cash and cash equivalents, loans and receivables, accounts payable, interest accrual and debt
(excluding bonds and leases), the carrying amounts approximate fair value because of the nature of these
instruments (including maturity and interest conditions) and therefore estimated fair value information is not
included.
Philips Group
Fair value of financial assets and liabilities in millions of EUR\u00a0
as of December 31,
2025
2024
Carrying amount
Estimated fair value
Level 1
Level 2
Level 3
Carrying amount
Estimated fair value
Financial assets
Carried at fair value:
Debt instruments
302
302
302
231
231
Equity instruments
2
2
2
3
3
Other financial assets
76
76
53
23
54
54
Financial assets carried at FVTP&L
380
380
53
328
288
288
Debt instruments
8
8
8
21
21
Equity instruments
213
213
2
212
222
222
Current financial assets
-
-
-
2
2
Receivables - current
13
13
13
-
-
Receivables - non-current
17
17
17
Financial assets carried at FVTOCI
252
252
2
38
212
244
244
Derivative financial instruments
99
99
82
17
77
77
Financial assets carried at fair value
731
731
2
173
556
609
609
Carried at (amortized) cost:
Cash and cash equivalents
2,794
2,401
Loans and receivables:
Other non-current loans and receivables
103
102
Receivables - current
3,517
3,672
Receivables - non-current
193
208
Financial assets carried at (amortized) cost
6,607
6,382
Total financial assets
7,338
6,992
Financial liabilities
Carried at fair value:
Contingent consideration
(111)
(111)
(111)
(113)
(113)
Financial liabilities carried at FVTP&L
(111)
(111)
(111)
(113)
(113)
Derivative financial instruments
(39)
(39)
(39)
(63)
(63)
Financial liabilities carried at fair value
(149)
(149)
(39)
(111)
(176)
(176)
Carried at (amortized) cost:
Accounts payable
(1,927)
(1,830)
Interest accrual
(95)
(83)
Debt (Corporate bonds and leases)
(7,757)
(7,818)
(6,854)
(963)
(7,397)
(7,363)
Debt (excluding corporate bonds and leases)
(327)
(241)
Financial liabilities carried at (amortized) cost
(10,107)
(9,551)
Total financial liabilities
(10,257)
(9,728)
The accompanying table shows the reconciliation from the beginning balance to the end balance for Level 3
fair value measurements.
Philips Group
Reconciliation of Level 3 fair value measurements in millions of EUR
2025
2024
Financial
assets
Financial
liabilities
Financial
assets
Financial
liabilities
Balance as of January 1
460
113
503
115
Acquisitions
Purchase
127
86
Sales
(44)
(48)
Utilizations
(1)
(9)
Recognized in profit and loss:
other business income
3
2
financial income and expenses \u00b9
(17)
1
(23)
3
Recognized in other comprehensive income \u00b2
(43)
(5)
(8)
3
Receivables held to collect and sell
(32)
Reclassification
74
(18)
-
Balance as of December 31
556
111
460
113
1Refer to Financial income and expenses for details.\u00a0
2Includes translation differences
", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-805": { "value": "
28Fair value of financial assets and liabilities
\"Icon_Accounting
Accounting policies
Offsetting and master netting agreements
Financial assets and liabilities are offset and the net amount is reported in the balance sheet when, and only
when, the company currently has a legally enforceable right to set-off the amounts and the group intends
either to settle them on a net basis or to realize the asset and settle the liability simultaneously.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-804": { "value": "
28Fair value of financial assets and liabilities
The accompanying table shows the carrying amounts and fair values of financial assets and financial liabilities,
including their levels in the fair value hierarchy. Fair value information for financial assets and financial
liabilities not carried at fair value is not included if the carrying amount is a reasonable approximation of fair
value. For cash and cash equivalents, loans and receivables, accounts payable, interest accrual and debt
(excluding bonds and leases), the carrying amounts approximate fair value because of the nature of these
instruments (including maturity and interest conditions) and therefore estimated fair value information is not
included.
Philips Group
Fair value of financial assets and liabilities in millions of EUR\u00a0
as of December 31,
2025
2024
Carrying amount
Estimated fair value
Level 1
Level 2
Level 3
Carrying amount
Estimated fair value
Financial assets
Carried at fair value:
Debt instruments
302
302
302
231
231
Equity instruments
2
2
2
3
3
Other financial assets
76
76
53
23
54
54
Financial assets carried at FVTP&L
380
380
53
328
288
288
Debt instruments
8
8
8
21
21
Equity instruments
213
213
2
212
222
222
Current financial assets
-
-
-
2
2
Receivables - current
13
13
13
-
-
Receivables - non-current
17
17
17
Financial assets carried at FVTOCI
252
252
2
38
212
244
244
Derivative financial instruments
99
99
82
17
77
77
Financial assets carried at fair value
731
731
2
173
556
609
609
Carried at (amortized) cost:
Cash and cash equivalents
2,794
2,401
Loans and receivables:
Other non-current loans and receivables
103
102
Receivables - current
3,517
3,672
Receivables - non-current
193
208
Financial assets carried at (amortized) cost
6,607
6,382
Total financial assets
7,338
6,992
Financial liabilities
Carried at fair value:
Contingent consideration
(111)
(111)
(111)
(113)
(113)
Financial liabilities carried at FVTP&L
(111)
(111)
(111)
(113)
(113)
Derivative financial instruments
(39)
(39)
(39)
(63)
(63)
Financial liabilities carried at fair value
(149)
(149)
(39)
(111)
(176)
(176)
Carried at (amortized) cost:
Accounts payable
(1,927)
(1,830)
Interest accrual
(95)
(83)
Debt (Corporate bonds and leases)
(7,757)
(7,818)
(6,854)
(963)
(7,397)
(7,363)
Debt (excluding corporate bonds and leases)
(327)
(241)
Financial liabilities carried at (amortized) cost
(10,107)
(9,551)
Total financial liabilities
(10,257)
(9,728)
Offsetting and master netting agreements
Transactions in derivatives are subject to master netting and set-off agreements. In the case of certain
termination events, under the terms of the master agreement, Philips can terminate the outstanding
transactions and aggregate their positive and negative values to arrive at a single net termination sum (or
close-out amount). This contractual right is subject to the following:
\u2022 The right may be limited by local law if the counterparty is subject to bankruptcy proceedings.
\u2022 The right applies on a bilateral basis.
Philips Group
Financial assets subject to offsetting, enforceable master netting arrangements or similar agreements in millions of EUR
2025
2024
Derivatives
Gross amounts of recognized financial assets
82
72
Gross amounts of recognized financial liabilities offset in the balance sheet
Net amounts of financial assets presented in the balance sheet
82
72
Related amounts not offset in the balance sheet
Financial instruments
(32)
(45)
Net amount
51
27
Philips Group
Financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements in millions of EUR
2025
2024
Derivatives
Gross amounts of recognized financial liabilities
(39)
(63)
Gross amounts of recognized financial assets offset in the balance sheet
Net amounts of financial liabilities presented in the balance sheet
(39)
(63)
Related amounts not offset in the balance sheet
Financial instruments
32
45
Net amount
(7)
(18)
29Details of treasury and other financial risks
\"Icon_Accounting
Accounting policies
Derivative financial instruments, including hedge accounting
The company uses derivative financial instruments principally to manage its foreign currency risks and, to a
more limited extent, interest rate and commodity price risks. All derivative financial instruments are
accounted for at the trade date and classified as current or non-current assets or liabilities based on the
maturity date or the early termination date. The company measures all derivative financial instruments at fair
value that is derived from the market prices of the instruments, calculated on the basis of the present value of
the estimated future cash flows based on observable interest yield curves, basis spread, credit spreads and
foreign exchange rates, or derived from option pricing models, as appropriate. Gains or losses arising from
changes in fair value of derivatives are recognized in the Consolidated statements of income, except for
derivatives that are highly effective and qualify for cash flow or net investment hedge accounting.
Changes in the fair value of a derivative that is highly effective and that is designated and qualifies as a cash
flow hedge are recorded in other comprehensive income (OCI) until the Consolidated statements of income
are affected by the variability in cash flows of the designated hedged item. To the extent that the hedge is
ineffective, changes in the fair value are recognized in the Consolidated statements of income.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognized in
the Consolidated statements of income, together with any changes in the fair value of the hedged asset or
liability that are attributable to the hedged risk. The gain or loss relating to the effective portion of interest
rate swaps hedging fixed-rate borrowings is recognized in the Consolidated statements of income, together
with changes in the fair value of the hedged fixed-rate borrowings attributable to interest rate risk.\u00a0If the
hedge no longer meets the criteria for hedge accounting, the adjustment to the carrying amount of a hedged
item for which the effective interest rate method is used is amortized to profit or loss over the period to
maturity using a recalculated effective interest rate.
The company formally assesses, both at the hedge\u2019s inception and on an ongoing basis, whether the
derivatives that are used in hedging transactions are highly effective in offsetting changes in fair values or
cash flows of hedged items. When it is established that a derivative is not highly effective as a hedge or that it
has ceased to be a highly effective hedge, the company discontinues hedge accounting prospectively. When
hedge accounting is discontinued because a forecasted transaction is expected not to occur, the company
continues to carry the derivative on the Consolidated balance sheets at its fair value, and gains and losses that
were accumulated in OCI are recognized immediately in the same line item as they relate to in the
Consolidated statements of income.
Foreign currency differences arising upon retranslation of financial instruments designated as a hedge of a
net investment in a foreign operation are recognized directly in the currency translation differences reserve
through OCI, to the extent that the hedge is effective. To the extent that the hedge is ineffective, such
differences are recognized in the Consolidated statements of income.
Currency risk
Currency risk is the risk that reported financial performance or the fair value or future cash flows of a financial
instrument will fluctuate because of changes in foreign exchange rates. Philips operates in many countries
and currencies and therefore currency fluctuations may impact Philips\u2019 financial results. Philips is exposed to
currency risk in the following areas:
\u2022 transaction exposures, related to anticipated sales and purchases and on-balance-sheet receivables/payables
resulting from such transactions
\u2022 translation exposure of foreign-currency intercompany and external debt and deposits
\u2022 translation exposure of net income in foreign entities
\u2022 translation exposure of foreign-currency-denominated equity invested in consolidated companies
\u2022 translation exposure to equity interests in non-functional-currency investments in associates and other non-
current financial assets
It is Philips\u2019 policy to reduce the potential year-on-year volatility caused by foreign-currency movements on its
net earnings by hedging the anticipated net exposure of foreign currencies resulting from foreign-currency
sales and purchases. In general, net anticipated exposures for the Group are hedged during a period of 15
months in layers of 8% up to a maximum hedge ratio based on an FX VaR Efficient Frontier. The FX VaR
Efficient Frontier model determines the target hedge ratios per currency quantifying the VaR reduction in
relation to the cost associated with hedging. Philips\u2019 policy requires significant committed foreign currency
exposures to be fully hedged, generally using forwards. However, not every foreign currency can or shall be
hedged as there may be regulatory barriers or prohibitive hedging cost preventing Philips from effectively
and/or efficiently hedging its currency exposures. As a result, hedging activities cannot and will not eliminate
all currency risks for anticipated and committed transaction exposures.
The accompanying table outlines the estimated nominal value in millions of EUR for committed and
anticipated transaction exposure and related hedges for Philips\u2019 most significant currency exposures
consolidated as of December\u00a031, 2025.
Philips Group
Estimated transaction exposure and related hedges in millions of EUR
Sales/Receivables
Purchases/Payable
Exposure
Hedges
Exposure
Hedges
Balance as of December 31, 2025
Exposure currency
USD
1,814
(1,526)
(1,127)
1,023
JPY
600
(354)
(6)
6
GBP
259
(173)
(10)
10
CNY
304
(267)
(177)
177
PLN
53
(32)
(2)
2
CAD
260
(159)
AUD
160
(98)
CHF
154
(105)
(1)
1
KRW
143
(85)
ILS
5
(3)
(206)
128
EUR
187
(186)
(178)
178
Others
165
(112)
(70)
37
Total 2025
4,104
(3,100)
(1,777)
1,562
Total 2024
4,420
(3,188)
(1,743)
1,543
Philips uses foreign exchange spot and forward contracts, as well as zero cost collars in hedging the exposure.
The derivatives related to transactions are, for hedge accounting purposes, split into hedges of on-balance-
sheet accounts receivable/payable and forecasted sales and purchases. Changes in the value of on-balance-
sheet foreign-currency accounts receivable/payable, as well as the changes in the fair value of the hedges
related to these exposures, are reported in the income statement under costs of sales. Hedges related to
forecasted transactions, where hedge accounting is applied, are accounted for as cash flow hedges. The
results from such hedges are deferred in other comprehensive income within equity to the extent that the
hedge is effective.
As of December\u00a031, 2025, a gain of EUR 33 million was deferred in equity as a result of these hedges (2024:
EUR 1 million gain). The result deferred in equity will be released to earnings mostly during 2026 at the time
when the related hedged transactions affect the income statement. During 2025, EUR 0.5 million (2024: nil)
was recorded in the consolidated statement of income as a result of ineffectiveness on certain anticipated
cash flow hedges. Ineffectiveness arises when anticipated exposures are no longer expected to be highly
probable. During 2025, a gain of EUR 29 million (2024: EUR 29 million gain) included in the cash flow hedges
reserve in equity pertaining to changes in fair value of foreign exchange forward and option contracts was
released to the income statement.
The total net fair value of hedges related to transaction exposure as of December\u00a031, 2025, was an unrealized
gain of EUR 47 million. The estimated impact of a 10% increase of value of the EUR is estimated to be EUR
104 million. The accompanying table contains an overview of the instantaneous 10% increase in the value of
EUR against major currencies.
Philips Group
Estimated impact of 10% increase of value of the EUR on the fair value of hedges in millions of EUR
2025
2024
USD
59
63
JPY
19
13
GBP
10
13
CHF
10
7
The EUR 104 million increase includes a gain of EUR 48 million that would impact the income statement,
which would largely offset the opposite revaluation effect on the underlying accounts receivable and payable,
and the remaining gain of EUR 55 million would be recognized in equity to the extent that the cash flow
hedges were effective.
Foreign exchange exposure also arises as a result of inter-company loans and deposits. Where the company
enters into such arrangements, the financing is generally provided in the functional currency of the subsidiary
entity. The currency of the company\u2019s external funding and liquid assets is matched with the required
financing of subsidiaries, either directly through external foreign currency loans and deposits, or synthetically
by using foreign exchange derivatives, including cross currency interest rate swaps and foreign exchange
forward contracts. In certain cases where group companies may also have external foreign currency debt or
liquid assets, these exposures are also hedged through the use of foreign exchange derivatives. Changes in
the fair value of hedges related to this exposure are recognized within financial income and expenses in the
statements of income. When such loans would be considered part of the net investment in the subsidiary, net
investment hedging would be applied.
Translation exposure of foreign-currency equity invested in consolidated entities is generally not hedged. If a
hedge is entered into, it is accounted for as a net investment hedge. Net current-period change, before tax, of
the currency translation reserve of negative EUR 1,641 million mainly relates to the development of the USD
versus the EUR. As of December\u00a031, 2025, a weakening of USD by 10% versus the EUR would result in a
decrease in the currency translation reserve in equity of approximately EUR 1,012 million, while a
strengthening of USD by 10% versus the EUR would result in an increase in the currency translation reserve in
equity of approximately EUR 1,236 million. Refer to the country risk section for countries with significant
foreign currency denominated equity invested.
As of December\u00a031, 2025, external bond funding for a book value of USD 1,331 million (EUR 1,135 million)
was designated as a net investment hedge of financing investments in foreign operations for an equal
amount (2024: USD 1,466 million (EUR 1,408 million)). During 2025, a gain of EUR 151 million was recognized
in currency translation differences within the consolidated statements of comprehensive income (2024: loss of
EUR 82 million). During 2025, no ineffectiveness was recognized in the income statement on net investment
hedges arising from counterparty and own credit risk (2024: no ineffectiveness).
As of December\u00a031, 2025, an instantaneous 10% increase in the value of the EUR against all currencies would
lead to an decrease of EUR 26 million in the value of the derivatives, including a EUR 1 million increase related
to the US dollar (2024: EUR 106 million, including a EUR 50 million decrease related to the US dollar).
Generally Philips does not hedge the foreign exchange exposure arising from equity interests in non-
functional-currency investments in associates and other non-current financial assets.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-810": { "value": "
29Details of treasury and other financial risks
\"Icon_Accounting
Accounting policies
Derivative financial instruments, including hedge accounting
The company uses derivative financial instruments principally to manage its foreign currency risks and, to a
more limited extent, interest rate and commodity price risks. All derivative financial instruments are
accounted for at the trade date and classified as current or non-current assets or liabilities based on the
maturity date or the early termination date. The company measures all derivative financial instruments at fair
value that is derived from the market prices of the instruments, calculated on the basis of the present value of
the estimated future cash flows based on observable interest yield curves, basis spread, credit spreads and
foreign exchange rates, or derived from option pricing models, as appropriate. Gains or losses arising from
changes in fair value of derivatives are recognized in the Consolidated statements of income, except for
derivatives that are highly effective and qualify for cash flow or net investment hedge accounting.
Changes in the fair value of a derivative that is highly effective and that is designated and qualifies as a cash
flow hedge are recorded in other comprehensive income (OCI) until the Consolidated statements of income
are affected by the variability in cash flows of the designated hedged item. To the extent that the hedge is
ineffective, changes in the fair value are recognized in the Consolidated statements of income.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognized in
the Consolidated statements of income, together with any changes in the fair value of the hedged asset or
liability that are attributable to the hedged risk. The gain or loss relating to the effective portion of interest
rate swaps hedging fixed-rate borrowings is recognized in the Consolidated statements of income, together
with changes in the fair value of the hedged fixed-rate borrowings attributable to interest rate risk.\u00a0If the
hedge no longer meets the criteria for hedge accounting, the adjustment to the carrying amount of a hedged
item for which the effective interest rate method is used is amortized to profit or loss over the period to
maturity using a recalculated effective interest rate.
The company formally assesses, both at the hedge\u2019s inception and on an ongoing basis, whether the
derivatives that are used in hedging transactions are highly effective in offsetting changes in fair values or
cash flows of hedged items. When it is established that a derivative is not highly effective as a hedge or that it
has ceased to be a highly effective hedge, the company discontinues hedge accounting prospectively. When
hedge accounting is discontinued because a forecasted transaction is expected not to occur, the company
continues to carry the derivative on the Consolidated balance sheets at its fair value, and gains and losses that
were accumulated in OCI are recognized immediately in the same line item as they relate to in the
Consolidated statements of income.
Foreign currency differences arising upon retranslation of financial instruments designated as a hedge of a
net investment in a foreign operation are recognized directly in the currency translation differences reserve
through OCI, to the extent that the hedge is effective. To the extent that the hedge is ineffective, such
differences are recognized in the Consolidated statements of income.
\"Icon_Accounting
Accounting estimates and judgments
Financial assets are subject to impairment assessment, which involves estimating expected credit losses. Refer
to Other financial assets for accounting policies on impairment of financial assets.
Philips is exposed to several types of financial risks which are further analyzed below. Philips does not
purchase or hold derivative financial instruments for speculative purposes. Information regarding financial
instruments is included in Fair value of financial assets and liabilities .
Liquidity risk
Liquidity risk is the risk that an entity will encounter difficulty in meeting obligations associated with financial
liabilities.
Liquidity risk for the group is monitored through the Treasury liquidity committee, which tracks the
development of the actual cash flow position for the group and uses input from a number of sources in order
to forecast the overall liquidity position on both short and longer term basis. Philips invests surplus cash in
short-term deposits with appropriate maturities and money market funds to ensure sufficient liquidity is
available to meet liabilities when due.
The rating of the company\u2019s debt by major rating agencies may improve or deteriorate. As a result, Philips\u2019
future borrowing capacity may be influenced and its financing costs may fluctuate. Philips has various sources
to mitigate the liquidity risk for the group. As of December\u00a031, 2025, Philips had EUR 2,794 million in cash and
cash equivalents (2024: EUR 2,401 million), which includes short-term deposits of EUR 2,086 million (2024 : EUR
1,946 million ). Cash and cash equivalents include all cash balances, money market funds and short-term highly
liquid investments with an original maturity of three months or less that are readily convertible into known
amounts of cash. Philips pools cash from subsidiaries to the extent legally and economically feasible; cash not
pooled remains available for the company\u2019s operational or investment needs.
Philips faces cross-border foreign exchange controls and/or other legal restrictions in a few countries that
could limit its ability to make these balances available on short notice for general use by the group.
Philips has a USD 2.5 billion Commercial Paper Program and a EUR 1 billion committed standby revolving
credit facility that can be used for general group purposes. As of December\u00a031, 2025 , Philips did not have any
loans outstanding under either facility. These facilities do not have a material adverse change clause, have no
financial covenants and have no credit-rating-related acceleration possibilities.
Philips established a Euro Medium-Term Note (EMTN) program, a framework that facilitates the issuance of
notes for a total amount up to EUR 10 billion. In 2025, Philips issued two new tranches under the program for
a total of EUR 1\u00a0billion fixed rate notes due 2030 and 2035 for general corporate purposes, including the
refinancing of the 2026 EUR and USD bonds, and tendered on outstanding 2026, 2027, 2028 and 2029 EUR
bonds. As of December\u00a031, 2025, Philips has EUR 4.6 billion (2024: EUR 3.7 billion) fixed rates notes
outstanding under the EMTN program. For a description of Philips\u2019 credit facilities, refer to Debt.
In addition to cash and cash equivalents, as of December\u00a031, 2025, Philips also held EUR 2 million (2024: EUR 4
million) of listed (level 1) equity investments at fair value (classified as other non-current financial assets).
The accompanying table presents a summary of the Group\u2019s fixed contractual cash obligations and
commitments as of December\u00a031, 2025. These amounts are an estimate of future payments which could
change as a result of various factors such as a change in interest rates, foreign exchange, and contractual
provisions, as well as changes in business strategy and needs. Therefore, the actual payments made in future
periods may vary from those presented.
Philips Group
Contractual cash obligations 1 2 in millions of EUR
2025
Payments due by period
Total
Less than 1 year
1-3 years
3-5 years
After 5 years
Long-term debt
7,086
1,630
1,806
3,650
Short-term debt
1,174
1,174
Interest on debt
1,765
216
402
361
786
Derivative liabilities
36
35
1
-
-
Purchase obligations \u00b3
1,189
293
390
306
200
Trade and other payables
1,927
1,927
Contractual cash
obligations
13,177
3,645
2,423
2,473
4,636
Philips Group
Contractual cash obligations 1 2 in millions of EUR
2024
Payments due by period
Total
Less than 1 year
1-3 years
3-5 years
After 5 years
Long-term debt
7,168
2,006
1,338
3,824
Short-term debt
525
525
Interest on debt
1,792
197
368
325
902
Derivative liabilities
72
64
8
-
-
Purchase obligations \u00b3
1,161
300
307
210
344
Trade and other payables
1,830
1,830
Contractual cash
obligations
12,548
2,916
2,689
1,873
5,070
1Amounts in this table are undiscounted
2This table excludes post-employment benefit plan contribution commitments, contingent consideration and income tax
liabilities in respect of tax risks because it is not possible to make a reasonably reliable estimate of the actual period of cash
settlement.
3Purchase obligations are agreements to purchase goods or services that are enforceable and legally binding for the Group. They
specify all significant terms, including fixed or minimum quantities to be purchased, fixed, minimum or variable price provisions
and the approximate timing of the transaction. They do not include open purchase orders or other commitments which do not
specify all significant terms.
Philips has contracts with investment funds where it committed itself to make, under certain conditions,
capital contributions to these funds of an aggregated remaining amount of EUR 112 million (2024: EUR 130
million). As of December\u00a031, 2025, capital contributions already made to these investment funds are recorded
as non-current financial assets.
Philips offers voluntary supply chain finance programs for certain US dollar, euro, Swedish krona and Brazilian
real third parties which provide participating suppliers the opportunity to factor their trade receivables at the
sole discretion of both the suppliers and the third parties. Philips continues to recognize these liabilities as
trade payables and settles them accordingly on the invoice maturity date based on the terms and conditions
of those arrangements. As of December 31, 2025, approximately EUR 117 million (2024: EUR 97 million ) of the
Philips account payable were transferred under these arrangements.
Philips Group
Carrying amount of financial liabilities 1 in millions of EUR
2025
2024
Presented in accounts payables:
117
97
- of which suppliers have received payment from finance provider
99
85
Philips Group
Range of payment due dates
2025
2024
Liabilities that are part of the arrangements
60-135 days
30-135 days
Comparable trade payables that are not part of the arrangements
0-140 days
0-135 days
1There were no material business combinations or foreign exchange differences during the year.
With respect to the Respironics field action, please refer to Contingencies. The management continues to
monitor the risks associated with such potential claims and its impact on liquidity position, if any.
Currency risk
Currency risk is the risk that reported financial performance or the fair value or future cash flows of a financial
instrument will fluctuate because of changes in foreign exchange rates. Philips operates in many countries
and currencies and therefore currency fluctuations may impact Philips\u2019 financial results. Philips is exposed to
currency risk in the following areas:
\u2022 transaction exposures, related to anticipated sales and purchases and on-balance-sheet receivables/payables
resulting from such transactions
\u2022 translation exposure of foreign-currency intercompany and external debt and deposits
\u2022 translation exposure of net income in foreign entities
\u2022 translation exposure of foreign-currency-denominated equity invested in consolidated companies
\u2022 translation exposure to equity interests in non-functional-currency investments in associates and other non-
current financial assets
It is Philips\u2019 policy to reduce the potential year-on-year volatility caused by foreign-currency movements on its
net earnings by hedging the anticipated net exposure of foreign currencies resulting from foreign-currency
sales and purchases. In general, net anticipated exposures for the Group are hedged during a period of 15
months in layers of 8% up to a maximum hedge ratio based on an FX VaR Efficient Frontier. The FX VaR
Efficient Frontier model determines the target hedge ratios per currency quantifying the VaR reduction in
relation to the cost associated with hedging. Philips\u2019 policy requires significant committed foreign currency
exposures to be fully hedged, generally using forwards. However, not every foreign currency can or shall be
hedged as there may be regulatory barriers or prohibitive hedging cost preventing Philips from effectively
and/or efficiently hedging its currency exposures. As a result, hedging activities cannot and will not eliminate
all currency risks for anticipated and committed transaction exposures.
The accompanying table outlines the estimated nominal value in millions of EUR for committed and
anticipated transaction exposure and related hedges for Philips\u2019 most significant currency exposures
consolidated as of December\u00a031, 2025.
Philips Group
Estimated transaction exposure and related hedges in millions of EUR
Sales/Receivables
Purchases/Payable
Exposure
Hedges
Exposure
Hedges
Balance as of December 31, 2025
Exposure currency
USD
1,814
(1,526)
(1,127)
1,023
JPY
600
(354)
(6)
6
GBP
259
(173)
(10)
10
CNY
304
(267)
(177)
177
PLN
53
(32)
(2)
2
CAD
260
(159)
AUD
160
(98)
CHF
154
(105)
(1)
1
KRW
143
(85)
ILS
5
(3)
(206)
128
EUR
187
(186)
(178)
178
Others
165
(112)
(70)
37
Total 2025
4,104
(3,100)
(1,777)
1,562
Total 2024
4,420
(3,188)
(1,743)
1,543
Philips uses foreign exchange spot and forward contracts, as well as zero cost collars in hedging the exposure.
The derivatives related to transactions are, for hedge accounting purposes, split into hedges of on-balance-
sheet accounts receivable/payable and forecasted sales and purchases. Changes in the value of on-balance-
sheet foreign-currency accounts receivable/payable, as well as the changes in the fair value of the hedges
related to these exposures, are reported in the income statement under costs of sales. Hedges related to
forecasted transactions, where hedge accounting is applied, are accounted for as cash flow hedges. The
results from such hedges are deferred in other comprehensive income within equity to the extent that the
hedge is effective.
As of December\u00a031, 2025, a gain of EUR 33 million was deferred in equity as a result of these hedges (2024:
EUR 1 million gain). The result deferred in equity will be released to earnings mostly during 2026 at the time
when the related hedged transactions affect the income statement. During 2025, EUR 0.5 million (2024: nil)
was recorded in the consolidated statement of income as a result of ineffectiveness on certain anticipated
cash flow hedges. Ineffectiveness arises when anticipated exposures are no longer expected to be highly
probable. During 2025, a gain of EUR 29 million (2024: EUR 29 million gain) included in the cash flow hedges
reserve in equity pertaining to changes in fair value of foreign exchange forward and option contracts was
released to the income statement.
The total net fair value of hedges related to transaction exposure as of December\u00a031, 2025, was an unrealized
gain of EUR 47 million. The estimated impact of a 10% increase of value of the EUR is estimated to be EUR
104 million. The accompanying table contains an overview of the instantaneous 10% increase in the value of
EUR against major currencies.
Philips Group
Estimated impact of 10% increase of value of the EUR on the fair value of hedges in millions of EUR
2025
2024
USD
59
63
JPY
19
13
GBP
10
13
CHF
10
7
The EUR 104 million increase includes a gain of EUR 48 million that would impact the income statement,
which would largely offset the opposite revaluation effect on the underlying accounts receivable and payable,
and the remaining gain of EUR 55 million would be recognized in equity to the extent that the cash flow
hedges were effective.
Foreign exchange exposure also arises as a result of inter-company loans and deposits. Where the company
enters into such arrangements, the financing is generally provided in the functional currency of the subsidiary
entity. The currency of the company\u2019s external funding and liquid assets is matched with the required
financing of subsidiaries, either directly through external foreign currency loans and deposits, or synthetically
by using foreign exchange derivatives, including cross currency interest rate swaps and foreign exchange
forward contracts. In certain cases where group companies may also have external foreign currency debt or
liquid assets, these exposures are also hedged through the use of foreign exchange derivatives. Changes in
the fair value of hedges related to this exposure are recognized within financial income and expenses in the
statements of income. When such loans would be considered part of the net investment in the subsidiary, net
investment hedging would be applied.
Translation exposure of foreign-currency equity invested in consolidated entities is generally not hedged. If a
hedge is entered into, it is accounted for as a net investment hedge. Net current-period change, before tax, of
the currency translation reserve of negative EUR 1,641 million mainly relates to the development of the USD
versus the EUR. As of December\u00a031, 2025, a weakening of USD by 10% versus the EUR would result in a
decrease in the currency translation reserve in equity of approximately EUR 1,012 million, while a
strengthening of USD by 10% versus the EUR would result in an increase in the currency translation reserve in
equity of approximately EUR 1,236 million. Refer to the country risk section for countries with significant
foreign currency denominated equity invested.
As of December\u00a031, 2025, external bond funding for a book value of USD 1,331 million (EUR 1,135 million)
was designated as a net investment hedge of financing investments in foreign operations for an equal
amount (2024: USD 1,466 million (EUR 1,408 million)). During 2025, a gain of EUR 151 million was recognized
in currency translation differences within the consolidated statements of comprehensive income (2024: loss of
EUR 82 million). During 2025, no ineffectiveness was recognized in the income statement on net investment
hedges arising from counterparty and own credit risk (2024: no ineffectiveness).
As of December\u00a031, 2025, an instantaneous 10% increase in the value of the EUR against all currencies would
lead to an decrease of EUR 26 million in the value of the derivatives, including a EUR 1 million increase related
to the US dollar (2024: EUR 106 million, including a EUR 50 million decrease related to the US dollar).
Generally Philips does not hedge the foreign exchange exposure arising from equity interests in non-
functional-currency investments in associates and other non-current financial assets.
Interest rate risk
Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate
because of changes in market interest rates. As of December\u00a031, 2025, Philips had outstanding debt of EUR
8,084 million (2024: EUR 7,639 million), which constitutes an inherent interest rate risk with potential negative
impact on financial results. As of December\u00a031, 2025, Philips held EUR 2,794 million in cash and cash
equivalents (2024: EUR 2,401 million), and had total long-term debt of EUR 6,934 million (2024: EUR 7,113
million) and total short-term debt of EUR 1,151 million (2024: EUR 526 million). As of December\u00a031, 2025,
Philips had a ratio of fixed-rate long-term debt to total outstanding debt of approximately 86% compared to
93% one year earlier. Philips debt has a long maturity profile with an average tenor of long-term debt of 5.4
years with maturities up to 2042.
Philips targets an efficient balance between cost and debt and volatility in interest expenses through the
fixed/floating ratio. In optimizing the fixed/floating ratio, interest-rate swaps may be used to hedge (part of)
Philips\u2019 fixed-rate debt.
As of December 31, 2025, Philips had interest rate swaps for a total notional amount of EUR 250\u00a0million
(2024: EUR 0\u00a0million) whereby Philips receives a fixed rate of 3.25% and pays EURIBOR 6M plus a weighted-
average spread of 1.04%. The swaps are maturing on May 23, 2030 and are used to hedge the exposure to
changes in the fair value of part of Philips\u2019 fixed-rate debt. The fixed-rate debt and swaps have been
designated in fair value hedge relationships. There is an economic relationship between the hedged item and
the hedging instruments as the terms of the swaps match the terms of the debt. Philips has established a
hedge ratio of 1:1 for the hedging relationships as the underlying risk of the interest rate swaps is identical to
the hedged risk component. Hedge effectiveness is tested qualitatively and ineffectiveness is measured and
booked every reporting period.
The impact of the hedged item (included in long-term debt) and the hedging instruments (included in other
non-current liabilities) on the consolidated balance sheet is:
Philips Group
Carrying amount and fair value adjustments of fair value hedge relationships in millions of EUR
2025
Carrying amount/ Notional
amount
Accumulated fair value
adjustments/Carrying amount
Change in fair value used for
measuring ineffectiveness for
the period
Fixed-rate long-term debt
(245)
4
4
Interest rate swaps
250
(4)
(4)
Hedge ineffectiveness primarily arises from differences in curve discounting and timing of swap resets
between the hedged item and hedging instrument as well as changes in credit valuation adjustment (CVA)
and debit valuation adjustment (DVA) on the hedging instrument. The ineffectiveness recognized in financial
income and expenses in the consolidated statement of income was immaterial for 2025.
The following table provides the impact of a 1% increase/decrease of interest rates on the fair value of the
debt and the annualized net interest expenses.
Philips Group
Interest rate sensitivity in millions of EUR
2025
2024
Impact 1% interest rate increase on annualized net interest expense \u00b9
27
23
1The impact is based on the outstanding net floating-rate position as of December\u00a031, 2025.
Equity price risk
Equity price risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate
because of changes in equity prices.
Philips is a shareholder in some publicly listed companies and as a result is exposed to potential financial loss
through movements in their share prices. The aggregate equity price exposure in such financial assets
amounted to approximately EUR 2 million as of December\u00a031, 2025 (2024: EUR 4 million). Philips does not hold
derivatives in the above-mentioned listed companies. Philips also has shareholdings in several privately-owned
companies amounting to EUR 214 million (2024: EUR 220 million) mainly consisting of minority stakes in
companies in various industries. As a result, Philips is exposed to potential value adjustments.
Commodity price risk
Commodity price risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate
because of changes in commodity prices.
Philips is a purchaser of certain base metals, precious metals and energy. Philips may hedge certain commodity
price risks using derivative instruments to minimize significant, unanticipated earnings fluctuations caused by
commodity price volatility. As of December\u00a031, 2025, Philips had financial commodity derivatives outstanding
to the value of EUR 17 million (2024: 6 million).
Credit risk
Credit risk represents the loss that would be recognized at the reporting date, if counterparties failed
completely to perform their payment obligations as contracted. Credit risk is present within Philips trade
receivables, contract assets and customer financing. To have better insights into the credit exposures, Philips
performs ongoing evaluations of the financial and non-financial condition of its customers and adjusts credit
limits when appropriate. In instances where the creditworthiness of a customer is determined not to be
sufficient to grant the credit limit required, there are a number of mitigation tools that can be utilized to
close the gap, including reducing payment terms, cash on delivery, pre-payments and pledges on assets.
Philips invests available cash and cash equivalents with various financial institutions and is exposed to credit
risk with these counterparties. Philips is also exposed to credit risks in the event of non-performance by
financial institutions with respect to financial derivative instruments. Philips actively manages concentration
risk and on a daily basis measures the potential loss under certain stress scenarios, should a financial
institution default. These worst-case scenario losses are monitored and limited by the company.
The company does not enter into any financial derivative instruments to protect against default by financial
institutions. However, where possible the company requires all financial institutions with which it deals in
derivative transactions to complete legally enforceable netting agreements under an International Swap
Dealers Association master agreement or otherwise prior to trading, and whenever possible, to have a strong
credit rating. Philips also regularly monitors the development of the credit risk of its financial counterparties.
Wherever possible, cash is invested and financial transactions are concluded with financial institutions with
strong credit ratings or with governments or government-backed institutions.
The accompanying table shows the number of financial institutions with credit rating A- and above with
which Philips has cash at hand and short-term deposits above EUR 10 million as of December\u00a031, 2025.
Philips Group
Credit risk with number of counterparties for deposits above EUR 10 million
10-100 million
100-500 million
500 million and above
AAA rated bank counterparties
2
AA- rated bank counterparties
1
1
A+ rated bank counterparties
2
3
A rated bank counterparties
2
2
A- rated bank counterparties
2
Total
5
10
For an overview of the overall maximum credit exposure related to debt instruments, derivatives and loans
and receivables, refer to Fair value of financial assets and liabilities.
Country risk
Country risk is the risk that political, legal, or economic developments in a single country could adversely
impact performance. The country risk per country is defined as the sum of the equity of all subsidiaries and
associated companies in country cross-border transactions, such as intercompany loans, accounts receivable
from third parties and intercompany accounts receivable. The country risk is monitored on a regular basis.
As of December\u00a031, 2025, the company had country risk exposure of EUR 12 billion in the US, EUR 1.6 billion in
the Netherlands, EUR 769 million in China (including Hong Kong). Other countries higher than EUR 500
million are the United Kingdom at EUR 732 million, Germany at EUR 627 million, France at EUR 537 million
and Japan at EUR 532 million. Other countries with significant exposure are: Singapore at EUR 204 million and
India at EUR 238 million. The degree of risk of a country is taken into account when new investments are
considered. The company does not, however, use financial derivative instruments to hedge country risk.
The impact of hyperinflation is also routinely assessed and was not material for the periods presented.
Other insurable risks
Philips is insured for a broad range of losses by global insurance policies in the areas of property damage/
business interruption, general and product liability, transport, directors\u2019 and officers\u2019 liability, employment
practice liability, crime and cybersecurity. The counterparty risk related to the insurance companies
participating in the above-mentioned global insurance policies is actively managed. As a rule, Philips only
selects insurance companies with a financial strength of at least A-. Throughout the year the counterparty risk
is monitored on a regular basis.
To lower exposures and to avoid potential losses, Philips has a global Risk Engineering program in place. The
main focus of this program is on property damage and business interruption risks including company
interdependencies. Regular on-site assessments take place at Philips locations and business-critical suppliers by
risk engineers of the insurer in order to provide an accurate assessment of the potential loss and its impact.
The results of these assessments are shared across the company\u2019s stakeholders. On-site assessments are carried
out against the predefined Risk Engineering standards, which are agreed between Philips and the insurers.
Recommendations are made in a Risk Improvement report and are monitored centrally. This is the basis for
decision-making by the local management of the business as to which recommendations will be implemented.
For all policies, deductibles are in place, which vary from EUR 0.01 million to EUR 10 million per occurrence,
and this variance is designed to differentiate between the existing risk categories within Philips. Above a first
layer of working deductibles, Philips utilizes a re-insurance captive as part of its overall risk financing
structure, through which a portion of selected risks is retained, with excess coverage obtained from external
insurers.
New insurance contracts were signed effective December\u00a031, 2025, for the coming year", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-809": { "value": "
29Details of treasury and other financial risks
\"Icon_Accounting
Accounting policies
Derivative financial instruments, including hedge accounting
The company uses derivative financial instruments principally to manage its foreign currency risks and, to a
more limited extent, interest rate and commodity price risks. All derivative financial instruments are
accounted for at the trade date and classified as current or non-current assets or liabilities based on the
maturity date or the early termination date. The company measures all derivative financial instruments at fair
value that is derived from the market prices of the instruments, calculated on the basis of the present value of
the estimated future cash flows based on observable interest yield curves, basis spread, credit spreads and
foreign exchange rates, or derived from option pricing models, as appropriate. Gains or losses arising from
changes in fair value of derivatives are recognized in the Consolidated statements of income, except for
derivatives that are highly effective and qualify for cash flow or net investment hedge accounting.
Changes in the fair value of a derivative that is highly effective and that is designated and qualifies as a cash
flow hedge are recorded in other comprehensive income (OCI) until the Consolidated statements of income
are affected by the variability in cash flows of the designated hedged item. To the extent that the hedge is
ineffective, changes in the fair value are recognized in the Consolidated statements of income.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognized in
the Consolidated statements of income, together with any changes in the fair value of the hedged asset or
liability that are attributable to the hedged risk. The gain or loss relating to the effective portion of interest
rate swaps hedging fixed-rate borrowings is recognized in the Consolidated statements of income, together
with changes in the fair value of the hedged fixed-rate borrowings attributable to interest rate risk.\u00a0If the
hedge no longer meets the criteria for hedge accounting, the adjustment to the carrying amount of a hedged
item for which the effective interest rate method is used is amortized to profit or loss over the period to
maturity using a recalculated effective interest rate.
The company formally assesses, both at the hedge\u2019s inception and on an ongoing basis, whether the
derivatives that are used in hedging transactions are highly effective in offsetting changes in fair values or
cash flows of hedged items. When it is established that a derivative is not highly effective as a hedge or that it
has ceased to be a highly effective hedge, the company discontinues hedge accounting prospectively. When
hedge accounting is discontinued because a forecasted transaction is expected not to occur, the company
continues to carry the derivative on the Consolidated balance sheets at its fair value, and gains and losses that
were accumulated in OCI are recognized immediately in the same line item as they relate to in the
Consolidated statements of income.
Foreign currency differences arising upon retranslation of financial instruments designated as a hedge of a
net investment in a foreign operation are recognized directly in the currency translation differences reserve
through OCI, to the extent that the hedge is effective. To the extent that the hedge is ineffective, such
differences are recognized in the Consolidated statements of income.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForHedgingExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-807": { "value": "
29Details of treasury and other financial risks
\"Icon_Accounting
Accounting policies
Derivative financial instruments, including hedge accounting
The company uses derivative financial instruments principally to manage its foreign currency risks and, to a
more limited extent, interest rate and commodity price risks. All derivative financial instruments are
accounted for at the trade date and classified as current or non-current assets or liabilities based on the
maturity date or the early termination date. The company measures all derivative financial instruments at fair
value that is derived from the market prices of the instruments, calculated on the basis of the present value of
the estimated future cash flows based on observable interest yield curves, basis spread, credit spreads and
foreign exchange rates, or derived from option pricing models, as appropriate. Gains or losses arising from
changes in fair value of derivatives are recognized in the Consolidated statements of income, except for
derivatives that are highly effective and qualify for cash flow or net investment hedge accounting.
Changes in the fair value of a derivative that is highly effective and that is designated and qualifies as a cash
flow hedge are recorded in other comprehensive income (OCI) until the Consolidated statements of income
are affected by the variability in cash flows of the designated hedged item. To the extent that the hedge is
ineffective, changes in the fair value are recognized in the Consolidated statements of income.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognized in
the Consolidated statements of income, together with any changes in the fair value of the hedged asset or
liability that are attributable to the hedged risk. The gain or loss relating to the effective portion of interest
rate swaps hedging fixed-rate borrowings is recognized in the Consolidated statements of income, together
with changes in the fair value of the hedged fixed-rate borrowings attributable to interest rate risk.\u00a0If the
hedge no longer meets the criteria for hedge accounting, the adjustment to the carrying amount of a hedged
item for which the effective interest rate method is used is amortized to profit or loss over the period to
maturity using a recalculated effective interest rate.
The company formally assesses, both at the hedge\u2019s inception and on an ongoing basis, whether the
derivatives that are used in hedging transactions are highly effective in offsetting changes in fair values or
cash flows of hedged items. When it is established that a derivative is not highly effective as a hedge or that it
has ceased to be a highly effective hedge, the company discontinues hedge accounting prospectively. When
hedge accounting is discontinued because a forecasted transaction is expected not to occur, the company
continues to carry the derivative on the Consolidated balance sheets at its fair value, and gains and losses that
were accumulated in OCI are recognized immediately in the same line item as they relate to in the
Consolidated statements of income.
Foreign currency differences arising upon retranslation of financial instruments designated as a hedge of a
net investment in a foreign operation are recognized directly in the currency translation differences reserve
through OCI, to the extent that the hedge is effective. To the extent that the hedge is ineffective, such
differences are recognized in the Consolidated statements of income.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-806": { "value": "
29Details of treasury and other financial risks
\"Icon_Accounting
Accounting policies
Derivative financial instruments, including hedge accounting
The company uses derivative financial instruments principally to manage its foreign currency risks and, to a
more limited extent, interest rate and commodity price risks. All derivative financial instruments are
accounted for at the trade date and classified as current or non-current assets or liabilities based on the
maturity date or the early termination date. The company measures all derivative financial instruments at fair
value that is derived from the market prices of the instruments, calculated on the basis of the present value of
the estimated future cash flows based on observable interest yield curves, basis spread, credit spreads and
foreign exchange rates, or derived from option pricing models, as appropriate. Gains or losses arising from
changes in fair value of derivatives are recognized in the Consolidated statements of income, except for
derivatives that are highly effective and qualify for cash flow or net investment hedge accounting.
Changes in the fair value of a derivative that is highly effective and that is designated and qualifies as a cash
flow hedge are recorded in other comprehensive income (OCI) until the Consolidated statements of income
are affected by the variability in cash flows of the designated hedged item. To the extent that the hedge is
ineffective, changes in the fair value are recognized in the Consolidated statements of income.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognized in
the Consolidated statements of income, together with any changes in the fair value of the hedged asset or
liability that are attributable to the hedged risk. The gain or loss relating to the effective portion of interest
rate swaps hedging fixed-rate borrowings is recognized in the Consolidated statements of income, together
with changes in the fair value of the hedged fixed-rate borrowings attributable to interest rate risk.\u00a0If the
hedge no longer meets the criteria for hedge accounting, the adjustment to the carrying amount of a hedged
item for which the effective interest rate method is used is amortized to profit or loss over the period to
maturity using a recalculated effective interest rate.
The company formally assesses, both at the hedge\u2019s inception and on an ongoing basis, whether the
derivatives that are used in hedging transactions are highly effective in offsetting changes in fair values or
cash flows of hedged items. When it is established that a derivative is not highly effective as a hedge or that it
has ceased to be a highly effective hedge, the company discontinues hedge accounting prospectively. When
hedge accounting is discontinued because a forecasted transaction is expected not to occur, the company
continues to carry the derivative on the Consolidated balance sheets at its fair value, and gains and losses that
were accumulated in OCI are recognized immediately in the same line item as they relate to in the
Consolidated statements of income.
Foreign currency differences arising upon retranslation of financial instruments designated as a hedge of a
net investment in a foreign operation are recognized directly in the currency translation differences reserve
through OCI, to the extent that the hedge is effective. To the extent that the hedge is ineffective, such
differences are recognized in the Consolidated statements of income.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-812": { "value": "
29Details of treasury and other financial risks
Liquidity risk
Liquidity risk is the risk that an entity will encounter difficulty in meeting obligations associated with financial
liabilities.
Liquidity risk for the group is monitored through the Treasury liquidity committee, which tracks the
development of the actual cash flow position for the group and uses input from a number of sources in order
to forecast the overall liquidity position on both short and longer term basis. Philips invests surplus cash in
short-term deposits with appropriate maturities and money market funds to ensure sufficient liquidity is
available to meet liabilities when due.
The rating of the company\u2019s debt by major rating agencies may improve or deteriorate. As a result, Philips\u2019
future borrowing capacity may be influenced and its financing costs may fluctuate. Philips has various sources
to mitigate the liquidity risk for the group. As of December\u00a031, 2025, Philips had EUR 2,794 million in cash and
cash equivalents (2024: EUR 2,401 million), which includes short-term deposits of EUR 2,086 million (2024 : EUR
1,946 million ). Cash and cash equivalents include all cash balances, money market funds and short-term highly
liquid investments with an original maturity of three months or less that are readily convertible into known
amounts of cash. Philips pools cash from subsidiaries to the extent legally and economically feasible; cash not
pooled remains available for the company\u2019s operational or investment needs.
Philips faces cross-border foreign exchange controls and/or other legal restrictions in a few countries that
could limit its ability to make these balances available on short notice for general use by the group.
Philips has a USD 2.5 billion Commercial Paper Program and a EUR 1 billion committed standby revolving
credit facility that can be used for general group purposes. As of December\u00a031, 2025 , Philips did not have any
loans outstanding under either facility. These facilities do not have a material adverse change clause, have no
financial covenants and have no credit-rating-related acceleration possibilities.
Philips established a Euro Medium-Term Note (EMTN) program, a framework that facilitates the issuance of
notes for a total amount up to EUR 10 billion. In 2025, Philips issued two new tranches under the program for
a total of EUR 1\u00a0billion fixed rate notes due 2030 and 2035 for general corporate purposes, including the
refinancing of the 2026 EUR and USD bonds, and tendered on outstanding 2026, 2027, 2028 and 2029 EUR
bonds. As of December\u00a031, 2025, Philips has EUR 4.6 billion (2024: EUR 3.7 billion) fixed rates notes
outstanding under the EMTN program. For a description of Philips\u2019 credit facilities, refer to Debt.
In addition to cash and cash equivalents, as of December\u00a031, 2025, Philips also held EUR 2 million (2024: EUR 4
million) of listed (level 1) equity investments at fair value (classified as other non-current financial assets).
The accompanying table presents a summary of the Group\u2019s fixed contractual cash obligations and
commitments as of December\u00a031, 2025. These amounts are an estimate of future payments which could
change as a result of various factors such as a change in interest rates, foreign exchange, and contractual
provisions, as well as changes in business strategy and needs. Therefore, the actual payments made in future
periods may vary from those presented.
Philips Group
Contractual cash obligations 1 2 in millions of EUR
2025
Payments due by period
Total
Less than 1 year
1-3 years
3-5 years
After 5 years
Long-term debt
7,086
1,630
1,806
3,650
Short-term debt
1,174
1,174
Interest on debt
1,765
216
402
361
786
Derivative liabilities
36
35
1
-
-
Purchase obligations \u00b3
1,189
293
390
306
200
Trade and other payables
1,927
1,927
Contractual cash
obligations
13,177
3,645
2,423
2,473
4,636
Philips Group
Contractual cash obligations 1 2 in millions of EUR
2024
Payments due by period
Total
Less than 1 year
1-3 years
3-5 years
After 5 years
Long-term debt
7,168
2,006
1,338
3,824
Short-term debt
525
525
Interest on debt
1,792
197
368
325
902
Derivative liabilities
72
64
8
-
-
Purchase obligations \u00b3
1,161
300
307
210
344
Trade and other payables
1,830
1,830
Contractual cash
obligations
12,548
2,916
2,689
1,873
5,070
1Amounts in this table are undiscounted
2This table excludes post-employment benefit plan contribution commitments, contingent consideration and income tax
liabilities in respect of tax risks because it is not possible to make a reasonably reliable estimate of the actual period of cash
settlement.
3Purchase obligations are agreements to purchase goods or services that are enforceable and legally binding for the Group. They
specify all significant terms, including fixed or minimum quantities to be purchased, fixed, minimum or variable price provisions
and the approximate timing of the transaction. They do not include open purchase orders or other commitments which do not
specify all significant terms.
Philips has contracts with investment funds where it committed itself to make, under certain conditions,
capital contributions to these funds of an aggregated remaining amount of EUR 112 million (2024: EUR 130
million). As of December\u00a031, 2025, capital contributions already made to these investment funds are recorded
as non-current financial assets.
Philips offers voluntary supply chain finance programs for certain US dollar, euro, Swedish krona and Brazilian
real third parties which provide participating suppliers the opportunity to factor their trade receivables at the
sole discretion of both the suppliers and the third parties. Philips continues to recognize these liabilities as
trade payables and settles them accordingly on the invoice maturity date based on the terms and conditions
of those arrangements. As of December 31, 2025, approximately EUR 117 million (2024: EUR 97 million ) of the
Philips account payable were transferred under these arrangements.
Philips Group
Carrying amount of financial liabilities 1 in millions of EUR
2025
2024
Presented in accounts payables:
117
97
- of which suppliers have received payment from finance provider
99
85
Philips Group
Range of payment due dates
2025
2024
Liabilities that are part of the arrangements
60-135 days
30-135 days
Comparable trade payables that are not part of the arrangements
0-140 days
0-135 days
1There were no material business combinations or foreign exchange differences during the year.
With respect to the Respironics field action, please refer to Contingencies. The management continues to
monitor the risks associated with such potential claims and its impact on liquidity position, if any.
", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-811": { "value": "
29Details of treasury and other financial risks
Credit risk
Credit risk represents the loss that would be recognized at the reporting date, if counterparties failed
completely to perform their payment obligations as contracted. Credit risk is present within Philips trade
receivables, contract assets and customer financing. To have better insights into the credit exposures, Philips
performs ongoing evaluations of the financial and non-financial condition of its customers and adjusts credit
limits when appropriate. In instances where the creditworthiness of a customer is determined not to be
sufficient to grant the credit limit required, there are a number of mitigation tools that can be utilized to
close the gap, including reducing payment terms, cash on delivery, pre-payments and pledges on assets.
Philips invests available cash and cash equivalents with various financial institutions and is exposed to credit
risk with these counterparties. Philips is also exposed to credit risks in the event of non-performance by
financial institutions with respect to financial derivative instruments. Philips actively manages concentration
risk and on a daily basis measures the potential loss under certain stress scenarios, should a financial
institution default. These worst-case scenario losses are monitored and limited by the company.
The company does not enter into any financial derivative instruments to protect against default by financial
institutions. However, where possible the company requires all financial institutions with which it deals in
derivative transactions to complete legally enforceable netting agreements under an International Swap
Dealers Association master agreement or otherwise prior to trading, and whenever possible, to have a strong
credit rating. Philips also regularly monitors the development of the credit risk of its financial counterparties.
Wherever possible, cash is invested and financial transactions are concluded with financial institutions with
strong credit ratings or with governments or government-backed institutions.
The accompanying table shows the number of financial institutions with credit rating A- and above with
which Philips has cash at hand and short-term deposits above EUR 10 million as of December\u00a031, 2025.
Philips Group
Credit risk with number of counterparties for deposits above EUR 10 million
10-100 million
100-500 million
500 million and above
AAA rated bank counterparties
2
AA- rated bank counterparties
1
1
A+ rated bank counterparties
2
3
A rated bank counterparties
2
2
A- rated bank counterparties
2
Total
5
10
For an overview of the overall maximum credit exposure related to debt instruments, derivatives and loans
and receivables, refer to Fair value of financial assets and liabilities.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-808": { "value": "
29Details of treasury and other financial risks
Currency risk
Currency risk is the risk that reported financial performance or the fair value or future cash flows of a financial
instrument will fluctuate because of changes in foreign exchange rates. Philips operates in many countries
and currencies and therefore currency fluctuations may impact Philips\u2019 financial results. Philips is exposed to
currency risk in the following areas:
\u2022 transaction exposures, related to anticipated sales and purchases and on-balance-sheet receivables/payables
resulting from such transactions
\u2022 translation exposure of foreign-currency intercompany and external debt and deposits
\u2022 translation exposure of net income in foreign entities
\u2022 translation exposure of foreign-currency-denominated equity invested in consolidated companies
\u2022 translation exposure to equity interests in non-functional-currency investments in associates and other non-
current financial assets
It is Philips\u2019 policy to reduce the potential year-on-year volatility caused by foreign-currency movements on its
net earnings by hedging the anticipated net exposure of foreign currencies resulting from foreign-currency
sales and purchases. In general, net anticipated exposures for the Group are hedged during a period of 15
months in layers of 8% up to a maximum hedge ratio based on an FX VaR Efficient Frontier. The FX VaR
Efficient Frontier model determines the target hedge ratios per currency quantifying the VaR reduction in
relation to the cost associated with hedging. Philips\u2019 policy requires significant committed foreign currency
exposures to be fully hedged, generally using forwards. However, not every foreign currency can or shall be
hedged as there may be regulatory barriers or prohibitive hedging cost preventing Philips from effectively
and/or efficiently hedging its currency exposures. As a result, hedging activities cannot and will not eliminate
all currency risks for anticipated and committed transaction exposures.
The accompanying table outlines the estimated nominal value in millions of EUR for committed and
anticipated transaction exposure and related hedges for Philips\u2019 most significant currency exposures
consolidated as of December\u00a031, 2025.
Philips Group
Estimated transaction exposure and related hedges in millions of EUR
Sales/Receivables
Purchases/Payable
Exposure
Hedges
Exposure
Hedges
Balance as of December 31, 2025
Exposure currency
USD
1,814
(1,526)
(1,127)
1,023
JPY
600
(354)
(6)
6
GBP
259
(173)
(10)
10
CNY
304
(267)
(177)
177
PLN
53
(32)
(2)
2
CAD
260
(159)
AUD
160
(98)
CHF
154
(105)
(1)
1
KRW
143
(85)
ILS
5
(3)
(206)
128
EUR
187
(186)
(178)
178
Others
165
(112)
(70)
37
Total 2025
4,104
(3,100)
(1,777)
1,562
Total 2024
4,420
(3,188)
(1,743)
1,543
Philips uses foreign exchange spot and forward contracts, as well as zero cost collars in hedging the exposure.
The derivatives related to transactions are, for hedge accounting purposes, split into hedges of on-balance-
sheet accounts receivable/payable and forecasted sales and purchases. Changes in the value of on-balance-
sheet foreign-currency accounts receivable/payable, as well as the changes in the fair value of the hedges
related to these exposures, are reported in the income statement under costs of sales. Hedges related to
forecasted transactions, where hedge accounting is applied, are accounted for as cash flow hedges. The
results from such hedges are deferred in other comprehensive income within equity to the extent that the
hedge is effective.
As of December\u00a031, 2025, a gain of EUR 33 million was deferred in equity as a result of these hedges (2024:
EUR 1 million gain). The result deferred in equity will be released to earnings mostly during 2026 at the time
when the related hedged transactions affect the income statement. During 2025, EUR 0.5 million (2024: nil)
was recorded in the consolidated statement of income as a result of ineffectiveness on certain anticipated
cash flow hedges. Ineffectiveness arises when anticipated exposures are no longer expected to be highly
probable. During 2025, a gain of EUR 29 million (2024: EUR 29 million gain) included in the cash flow hedges
reserve in equity pertaining to changes in fair value of foreign exchange forward and option contracts was
released to the income statement.
The total net fair value of hedges related to transaction exposure as of December\u00a031, 2025, was an unrealized
gain of EUR 47 million. The estimated impact of a 10% increase of value of the EUR is estimated to be EUR
104 million. The accompanying table contains an overview of the instantaneous 10% increase in the value of
EUR against major currencies.
Philips Group
Estimated impact of 10% increase of value of the EUR on the fair value of hedges in millions of EUR
2025
2024
USD
59
63
JPY
19
13
GBP
10
13
CHF
10
7
The EUR 104 million increase includes a gain of EUR 48 million that would impact the income statement,
which would largely offset the opposite revaluation effect on the underlying accounts receivable and payable,
and the remaining gain of EUR 55 million would be recognized in equity to the extent that the cash flow
hedges were effective.
Foreign exchange exposure also arises as a result of inter-company loans and deposits. Where the company
enters into such arrangements, the financing is generally provided in the functional currency of the subsidiary
entity. The currency of the company\u2019s external funding and liquid assets is matched with the required
financing of subsidiaries, either directly through external foreign currency loans and deposits, or synthetically
by using foreign exchange derivatives, including cross currency interest rate swaps and foreign exchange
forward contracts. In certain cases where group companies may also have external foreign currency debt or
liquid assets, these exposures are also hedged through the use of foreign exchange derivatives. Changes in
the fair value of hedges related to this exposure are recognized within financial income and expenses in the
statements of income. When such loans would be considered part of the net investment in the subsidiary, net
investment hedging would be applied.
Translation exposure of foreign-currency equity invested in consolidated entities is generally not hedged. If a
hedge is entered into, it is accounted for as a net investment hedge. Net current-period change, before tax, of
the currency translation reserve of negative EUR 1,641 million mainly relates to the development of the USD
versus the EUR. As of December\u00a031, 2025, a weakening of USD by 10% versus the EUR would result in a
decrease in the currency translation reserve in equity of approximately EUR 1,012 million, while a
strengthening of USD by 10% versus the EUR would result in an increase in the currency translation reserve in
equity of approximately EUR 1,236 million. Refer to the country risk section for countries with significant
foreign currency denominated equity invested.
As of December\u00a031, 2025, external bond funding for a book value of USD 1,331 million (EUR 1,135 million)
was designated as a net investment hedge of financing investments in foreign operations for an equal
amount (2024: USD 1,466 million (EUR 1,408 million)). During 2025, a gain of EUR 151 million was recognized
in currency translation differences within the consolidated statements of comprehensive income (2024: loss of
EUR 82 million). During 2025, no ineffectiveness was recognized in the income statement on net investment
hedges arising from counterparty and own credit risk (2024: no ineffectiveness).
As of December\u00a031, 2025, an instantaneous 10% increase in the value of the EUR against all currencies would
lead to an decrease of EUR 26 million in the value of the derivatives, including a EUR 1 million increase related
to the US dollar (2024: EUR 106 million, including a EUR 50 million decrease related to the US dollar).
Generally Philips does not hedge the foreign exchange exposure arising from equity interests in non-
functional-currency investments in associates and other non-current financial assets.
Interest rate risk
Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate
because of changes in market interest rates. As of December\u00a031, 2025, Philips had outstanding debt of EUR
8,084 million (2024: EUR 7,639 million), which constitutes an inherent interest rate risk with potential negative
impact on financial results. As of December\u00a031, 2025, Philips held EUR 2,794 million in cash and cash
equivalents (2024: EUR 2,401 million), and had total long-term debt of EUR 6,934 million (2024: EUR 7,113
million) and total short-term debt of EUR 1,151 million (2024: EUR 526 million). As of December\u00a031, 2025,
Philips had a ratio of fixed-rate long-term debt to total outstanding debt of approximately 86% compared to
93% one year earlier. Philips debt has a long maturity profile with an average tenor of long-term debt of 5.4
years with maturities up to 2042.
Philips targets an efficient balance between cost and debt and volatility in interest expenses through the
fixed/floating ratio. In optimizing the fixed/floating ratio, interest-rate swaps may be used to hedge (part of)
Philips\u2019 fixed-rate debt.
As of December 31, 2025, Philips had interest rate swaps for a total notional amount of EUR 250\u00a0million
(2024: EUR 0\u00a0million) whereby Philips receives a fixed rate of 3.25% and pays EURIBOR 6M plus a weighted-
average spread of 1.04%. The swaps are maturing on May 23, 2030 and are used to hedge the exposure to
changes in the fair value of part of Philips\u2019 fixed-rate debt. The fixed-rate debt and swaps have been
designated in fair value hedge relationships. There is an economic relationship between the hedged item and
the hedging instruments as the terms of the swaps match the terms of the debt. Philips has established a
hedge ratio of 1:1 for the hedging relationships as the underlying risk of the interest rate swaps is identical to
the hedged risk component. Hedge effectiveness is tested qualitatively and ineffectiveness is measured and
booked every reporting period.
The impact of the hedged item (included in long-term debt) and the hedging instruments (included in other
non-current liabilities) on the consolidated balance sheet is:
Philips Group
Carrying amount and fair value adjustments of fair value hedge relationships in millions of EUR
2025
Carrying amount/ Notional
amount
Accumulated fair value
adjustments/Carrying amount
Change in fair value used for
measuring ineffectiveness for
the period
Fixed-rate long-term debt
(245)
4
4
Interest rate swaps
250
(4)
(4)
Hedge ineffectiveness primarily arises from differences in curve discounting and timing of swap resets
between the hedged item and hedging instrument as well as changes in credit valuation adjustment (CVA)
and debit valuation adjustment (DVA) on the hedging instrument. The ineffectiveness recognized in financial
income and expenses in the consolidated statement of income was immaterial for 2025.
The following table provides the impact of a 1% increase/decrease of interest rates on the fair value of the
debt and the annualized net interest expenses.
Philips Group
Interest rate sensitivity in millions of EUR
2025
2024
Impact 1% interest rate increase on annualized net interest expense \u00b9
27
23
1The impact is based on the outstanding net floating-rate position as of December\u00a031, 2025.
Equity price risk
Equity price risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate
because of changes in equity prices.
Philips is a shareholder in some publicly listed companies and as a result is exposed to potential financial loss
through movements in their share prices. The aggregate equity price exposure in such financial assets
amounted to approximately EUR 2 million as of December\u00a031, 2025 (2024: EUR 4 million). Philips does not hold
derivatives in the above-mentioned listed companies. Philips also has shareholdings in several privately-owned
companies amounting to EUR 214 million (2024: EUR 220 million) mainly consisting of minority stakes in
companies in various industries. As a result, Philips is exposed to potential value adjustments.
Commodity price risk
Commodity price risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate
because of changes in commodity prices.
Philips is a purchaser of certain base metals, precious metals and energy. Philips may hedge certain commodity
price risks using derivative instruments to minimize significant, unanticipated earnings fluctuations caused by
commodity price volatility. As of December\u00a031, 2025, Philips had financial commodity derivatives outstanding
to the value of EUR 17 million (2024
Country risk
Country risk is the risk that political, legal, or economic developments in a single country could adversely
impact performance. The country risk per country is defined as the sum of the equity of all subsidiaries and
associated companies in country cross-border transactions, such as intercompany loans, accounts receivable
from third parties and intercompany accounts receivable. The country risk is monitored on a regular basis.
As of December\u00a031, 2025, the company had country risk exposure of EUR 12 billion in the US, EUR 1.6 billion in
the Netherlands, EUR 769 million in China (including Hong Kong). Other countries higher than EUR 500
million are the United Kingdom at EUR 732 million, Germany at EUR 627 million, France at EUR 537 million
and Japan at EUR 532 million. Other countries with significant exposure are: Singapore at EUR 204 million and
India at EUR 238 million. The degree of risk of a country is taken into account when new investments are
considered. The company does not, however, use financial derivative instruments to hedge country risk.
The impact of hyperinflation is also routinely assessed and was not material for the periods presented.
", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-813": { "value": "
30Subsequent events
On January 15, 2026, Philips completed the acquisition of SpectraWAVE, Inc., a US-based innovator in
Enhanced Vascular Imaging (EVI) of coronary arteries, angiography-based physiology assessments, and the use
of AI in medical imaging. The acquisition forms part of Philips\u2019 Diagnosis & Treatment segment and
complements its intravascular imaging and physiology portfolio. The purchase price involved an upfront
amount of USD 265\u00a0million, which was paid from available cash on hand, and contingent consideration. Due
to the recent closing date, additional IFRS disclosures cannot be made until the initial accounting for the
business combination has been completed.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:H1FJE8H61JGM1JSGM897", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } } } }