Document and Entity Information
Document and Entity Information | 12 Months Ended |
Dec. 31, 2018shares | |
Document And Entity Information [Abstract] | |
Entity Registrant Name | ASML HOLDING NV |
Trading Symbol | ASML |
Entity Central Index Key | 937,966 |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Large Accelerated Filer |
Document Type | 20-F |
Document Period End Date | Dec. 31, 2018 |
Document Fiscal Year Focus | 2,018 |
Document Fiscal Period Focus | FY |
Amendment Flag | false |
Entity Common Stock, Shares Outstanding | 421,097,729 |
Entity Well-known Seasoned Issuer | Yes |
Entity Current Reporting Status | Yes |
Entity Shell Company | false |
Entity Emerging Growth Company | false |
Consolidated Statements of Oper
Consolidated Statements of Operations - EUR (€) € in Millions, shares in Millions | 12 Months Ended | |||||
Dec. 31, 2018 | Dec. 31, 2017 | [2] | Dec. 31, 2016 | |||
Net Sales | [1] | € 10,944 | € 8,962.7 | € 6,875.1 | [2] | |
Cost of sales | (5,914.8) | (4,942.5) | (3,729.8) | [2] | ||
Gross profit | 5,029.2 | 4,020.2 | 3,145.3 | [2] | ||
Other income | 0 | 95.8 | 93.8 | [2] | ||
Research and development costs | (1,575.9) | (1,259.7) | (1,105.8) | [2] | ||
Selling, general and administrative costs | (488) | (416.6) | (374.8) | [2] | ||
Income from operations | 2,965.3 | 2,439.7 | 1,758.5 | [2] | ||
Interest and other, net | (28.3) | (50.3) | 33.7 | [2] | ||
Income before income taxes | 2,937 | 2,389.4 | [3] | 1,792.2 | [2],[3] | |
Provision for income taxes | (351.6) | (306) | [3] | (234.4) | [2],[3] | |
Income (Loss) from Continuing Operations After Tax before Equity Method Investments, Noncontrolling Interest | 2,585.4 | 2,083.4 | 1,557.8 | [2] | ||
Profit (loss) related to equity method investments | (6.2) | 16.7 | 0 | [2] | ||
Net income | [4] | € 2,591.6 | € 2,066.7 | [5],[6] | € 1,557.8 | [2],[5],[6] |
Basic net income per ordinary share (in EUR per share) | € 6.10 | € 4.81 | € 3.66 | [2] | ||
Diluted net income per ordinary share (in EUR per share) | [7],[8] | € 6.08 | € 4.79 | [9] | € 3.64 | [9] |
Number of ordinary shares used in computing per share amounts | ||||||
Basic | 424.9 | 429.8 | 425.6 | [2] | ||
Diluted | [7],[8] | 426.4 | 431.6 | 427.7 | [2] | |
System Sales [Member] | ||||||
Net Sales | [9] | € 8,259.1 | € 6,424.4 | [10],[11] | € 4,718.9 | [2],[10],[11],[12],[13] |
Cost of sales | (4,141.2) | (3,439.9) | (2,423.9) | [2],[9] | ||
Service and Field Options [Member] | ||||||
Net Sales | [9] | 2,684.9 | 2,538.3 | 2,156.2 | [2] | |
Cost of sales | € (1,773.6) | € (1,502.6) | € (1,305.9) | [2],[9] | ||
[1] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[2] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[3] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[4] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. The Retained Earnings balance at January 1, 2016 has been increased by EUR 66.1 million to reflect the changes in the new Revenue Recognition Standard. | |||||
[5] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[6] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[7] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. 2.The calculation of diluted net income per ordinary share assumes the exercise of options issued under our stock option plans and the issuance of shares under our share plans for periods in which exercises or issuances would have a dilutive effect. The calculation of diluted net income per ordinary share does not assume exercise of options when exercise would be anti-dilutive. | |||||
[8] | The calculation of diluted net income per ordinary share assumes the exercise of options issued under our stock option plans and the issuance of shares under our share plans for periods in which exercises or issuances would have a dilutive effect. The calculation of diluted net income per ordinary share does not assume exercise of options when exercise would be anti-dilutive. | |||||
[9] | As of January 1, 2017, ASML presents net sales with respect to metrology and inspection systems as part of net system sales instead of net service and field option sales. The 2016 numbers have been adjusted to reflect this change in accounting policy. | |||||
[10] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[11] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[12] | 2.As of January 1, 2017, ASML presents net sales with respect to metrology and inspection systems as part of net system sales instead of net service and field option sales. The 2016 numbers have been adjusted to reflect this change in accounting policy. | |||||
[13] | As of January 1, 2017, ASML presents net sales with respect to metrology and inspection systems as part of net system sales instead of net service and field option sales. The 2016 numbers have been adjusted to reflect this change in accounting policy. |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - EUR (€) € in Millions | 12 Months Ended | |||||
Dec. 31, 2018 | Dec. 31, 2017 | [3] | Dec. 31, 2016 | [3] | ||
Statement of Comprehensive Income [Abstract] | ||||||
Net income | [1] | € 2,591.6 | € 2,066.7 | [2],[4] | € 1,557.8 | [2],[4] |
Proportionate share of OCI from equity method investments | (4.8) | (1) | 0 | |||
Foreign currency translation, net of taxes: | ||||||
Gain (loss) on foreign currency translation and effective portion of hedges on net investments | 18.2 | (329) | 120.4 | |||
Financial instruments, net of taxes: | ||||||
Gain (loss) on derivative financial instruments | 8.3 | (16.6) | 6 | |||
Transfers to net income | 11.8 | (3.1) | 2.4 | |||
Other comprehensive income, net of taxes | 33.5 | (349.7) | 128.8 | |||
Total comprehensive income, net of taxes | 2,625.1 | 1,717 | 1,686.6 | |||
Total comprehensive income, attributable to equity holders | € 2,625.1 | € 1,717 | € 1,686.6 | |||
[1] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. The Retained Earnings balance at January 1, 2016 has been increased by EUR 66.1 million to reflect the changes in the new Revenue Recognition Standard. | |||||
[2] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[3] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[4] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Consolidated Balance Sheets
Consolidated Balance Sheets - EUR (€) € in Millions | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||||
Assets | ||||||||||
Cash and cash equivalents | € 3,121.1 | € 2,259 | [1],[2] | € 2,906.9 | [2] | € 2,458.7 | [2] | |||
Short-term investments | 913.3 | 1,029.3 | [1] | |||||||
Accounts receivable, net | 1,498.2 | 1,740.3 | [1],[3] | |||||||
Finance receivables, net | 611.1 | 59.1 | [1] | |||||||
Current tax assets | 79.7 | 61.6 | [1] | |||||||
Contract Assets, Current | 95.9 | 270.4 | [1],[4] | |||||||
Right-of-Use Assets, Non-Current | 137.6 | 113.7 | [1] | |||||||
Inventories, net | 3,439.5 | 2,955.6 | [1],[5] | |||||||
Deferred tax assets | [6] | 0 | 0 | |||||||
Other assets | 772.6 | [7] | 510.5 | [1],[8] | ||||||
Total current assets | 10,531.4 | 8,885.8 | [1] | |||||||
Finance receivables, net | 275.1 | 159.4 | [1],[9] | |||||||
Deferred tax assets | 236.3 | [7] | 31.7 | [1],[6],[10] | 34.9 | [6] | ||||
Other assets | 806.1 | 708.2 | [1],[11] | |||||||
Equity Method Investments | 915.8 | 982.2 | [1] | |||||||
Goodwill | 4,541.1 | 4,541.1 | [1] | 4,873.9 | ||||||
Other intangible assets, net | 1,104 | 1,166 | [1] | |||||||
Property, plant and equipment, net | 1,589.5 | 1,600.8 | [1],[12] | 1,687.2 | [12] | |||||
Total non-current assets | 9,605.5 | 9,303.1 | [1] | |||||||
Total assets | 20,136.9 | 18,188.9 | [1] | |||||||
Liabilities and shareholders’ equity | ||||||||||
Accounts payable | 964 | 837.3 | [1] | |||||||
Accrued and other liabilities | 911.4 | 625.5 | [1],[13] | |||||||
Current tax liabilities | 187.9 | 152 | [1] | |||||||
Current portion of long-term debt | 0 | 25.2 | [1] | |||||||
Contract Liabilities, Current | 1,728.6 | 1,530 | [1] | |||||||
Total current liabilities | 3,791.9 | 3,170 | [1] | |||||||
Long-term debt | 3,026.5 | 3,000.1 | [1] | |||||||
Deferred and other tax liabilities | 251.2 | 341.1 | [1] | |||||||
Contract Liabilities, Noncurrent | 1,224.6 | 622 | [1] | |||||||
Accrued and other liabilities | 201.7 | 279.3 | [1],[13] | |||||||
Total non-current liabilities | 4,704 | 4,242.5 | [1] | |||||||
Total liabilities | 8,495.9 | 7,412.5 | [1] | |||||||
Issued and outstanding shares | 38.6 | 38.8 | [1] | |||||||
Share premium | 3,741.3 | 3,732.5 | [1] | |||||||
Treasury shares at cost | (1,621.8) | (557.9) | [1] | |||||||
Retained earnings | 9,197.9 | [7] | 7,311.5 | [1] | ||||||
Accumulated other comprehensive income | 285 | 251.5 | [1] | |||||||
Total shareholders’ equity | 11,641 | € 10,691.1 | 10,776.4 | [1] | € 9,972.4 | € 8,454.9 | ||||
Total liabilities and shareholders’ equity | € 20,136.9 | € 18,188.9 | [1] | |||||||
[1] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||||||
[2] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||||||
[3] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||||||
[4] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||||||
[5] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||||||
[6] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||||||
[7] | 2.As per January 1, 2018, ASML has adopted ASU No. 2016-16 Income Taxes (ASC 740) 'Intra-Entity Transfers of Assets Other Than Inventory', adjusted to retained earnings as of January 1, 2018. See Note 1 General information / summary of significant accounting policies. | |||||||||
[8] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||||||
[9] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||||||
[10] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||||||
[11] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||||||
[12] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||||||
[13] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Common Stock, Value, Issued | € 38.8 | € 38.6 | [1] |
Cumulative Preference Shares; nominal value (in EUR) | € 0.09 | ||
Cumulative Preference Shares; authorized (number of shares) | 700,000,000 | ||
Common Stock Shares; issued and outstanding | 427,393,592 | ||
Common Class B [Member] | |||
Ordinary Shares, nominal value (in EUR) | € 0.01 | ||
Ordinary Shares, authorized (number of shares) | 9,000 | ||
Common Stock [Member] | |||
Ordinary Shares, nominal value (in EUR) | € 0.09 | € 0.09 | |
Ordinary Shares, authorized (number of shares) | 699,999,000 | 699,999,000 | |
Common Stock Shares; issued and outstanding | 421,097,729 | 427,393,592 | |
Common Stock, Shares, Issued | 421,097,729 | 427,393,592 | |
[1] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity - EUR (€) € in Millions | Total | Issued and Outstanding Shares [Member] | Share Premium [Member] | Treasury Shares at Cost [Member] | Retained Earnings [Member] | [2] | AOCI Attributable to Parent [Member] | Restatement Adjustment [Member] | Previously Reported [Member] | Previously Reported [Member]Issued and Outstanding Shares [Member] | Previously Reported [Member]Share Premium [Member] | Previously Reported [Member]Treasury Shares at Cost [Member] | Previously Reported [Member]AOCI Attributable to Parent [Member] | [3] | |||||
Beginning Balance, shares at Dec. 31, 2015 | [1] | 428,000,000 | |||||||||||||||||
Beginning Balance at Dec. 31, 2015 | € 8,454.9 | € 38.8 | € 3,070.2 | € (476.9) | € 5,350.4 | € 472.4 | [3] | ||||||||||||
Components of comprehensive income: | |||||||||||||||||||
Net income | 1,557.8 | [2],[4],[5],[6] | 1,557.8 | € 85.9 | € 1,471.9 | ||||||||||||||
Proportionate share of OCI from equity method investments | 0 | [5] | 0 | ||||||||||||||||
Foreign currency translation and effective portion of hedges on net investments | 120.4 | [5] | 120.4 | [3] | 120.4 | ||||||||||||||
Gain (loss) on financial instruments, net of taxes | 8.4 | 8.4 | [3] | ||||||||||||||||
Total comprehensive income, attributable to equity holders | 1,686.6 | [5] | 1,557.8 | 128.8 | [3] | 85.9 | 1,600.7 | ||||||||||||
CCIP: | |||||||||||||||||||
Fair value differences | [7] | 27.9 | 27.9 | ||||||||||||||||
Purchase of treasury shares, shares | [1] | (4,800,000) | |||||||||||||||||
Purchase of treasury shares | (400) | € 0 | (400) | ||||||||||||||||
Cancellation of treasury shares | 0 | € 0 | 0 | 0 | |||||||||||||||
Share-based payments | [8] | 49.2 | 49.2 | ||||||||||||||||
Issuance of shares, shares | [1],[9] | 6,700,000 | |||||||||||||||||
Issuance of shares | [9] | 598.8 | € 0.6 | 545.3 | 80.7 | (27.8) | |||||||||||||
Dividend paid | (445.9) | (445.9) | |||||||||||||||||
Tax benefit from share-based payments | € 0.9 | 0.9 | |||||||||||||||||
Ending Balance, shares at Dec. 31, 2016 | 429,941,232 | 429,900,000 | [1] | ||||||||||||||||
Ending Balance at Dec. 31, 2016 | € 9,972.4 | € 39.4 | 3,693.5 | (796.2) | 6,434.5 | 601.2 | [3] | 152 | 9,820.4 | ||||||||||
Components of comprehensive income: | |||||||||||||||||||
Net income | 2,066.7 | [2],[4],[5],[6] | 2,066.7 | (51.8) | 2,118.5 | ||||||||||||||
Proportionate share of OCI from equity method investments | (1) | [5] | (1) | [1] | 0 | (1) | |||||||||||||
Foreign currency translation and effective portion of hedges on net investments | (329) | [5] | (329) | [3] | 0 | (329) | |||||||||||||
Gain (loss) on financial instruments, net of taxes | (19.7) | (19.7) | [3] | ||||||||||||||||
Total comprehensive income, attributable to equity holders | 1,717 | [5] | 2,066.7 | (349.7) | [3] | (51.8) | 1,768.8 | ||||||||||||
CCIP: | |||||||||||||||||||
Fair value differences | [7] | 28.6 | 28.6 | ||||||||||||||||
Purchase of treasury shares, shares | [1] | (3,500,000) | |||||||||||||||||
Purchase of treasury shares | (500) | € 0 | (500) | ||||||||||||||||
Cancellation of treasury shares | 0 | € (0.7) | 650 | (649.3) | |||||||||||||||
Share-based payments | [7] | 53.1 | 53.1 | ||||||||||||||||
Issuance of shares, shares | [1],[10] | 1,000,000 | |||||||||||||||||
Issuance of shares | [10] | 22 | € 0.1 | (42.7) | 88.3 | (23.7) | |||||||||||||
Dividend paid | € (516.7) | (516.7) | |||||||||||||||||
Ending Balance, shares at Dec. 31, 2017 | 427,393,592 | 427,400,000 | [1] | ||||||||||||||||
Ending Balance at Dec. 31, 2017 | € 10,776.4 | [11] | 7,311.5 | € 100.2 | € 10,676.2 | € 38.8 | € 3,732.5 | € (557.9) | € 251.5 | ||||||||||
Components of comprehensive income: | |||||||||||||||||||
Net income | [2] | 2,591.6 | |||||||||||||||||
Proportionate share of OCI from equity method investments | (4.8) | (4.8) | [3] | ||||||||||||||||
Foreign currency translation and effective portion of hedges on net investments | 18.2 | 18.2 | [3] | ||||||||||||||||
Gain (loss) on financial instruments, net of taxes | 20.1 | 20.1 | [3] | ||||||||||||||||
Total comprehensive income, attributable to equity holders | 2,625.1 | 2,591.6 | 33.5 | [3] | |||||||||||||||
CCIP: | |||||||||||||||||||
Purchase of treasury shares, shares | [1] | (7,000,000) | |||||||||||||||||
Purchase of treasury shares | (1,146.2) | € (0.3) | (1,145.9) | ||||||||||||||||
Cancellation of treasury shares | 0 | € 0 | 0 | 0 | |||||||||||||||
Share-based payments | 46.3 | 46.3 | |||||||||||||||||
Issuance of shares, shares | [1] | 700,000 | |||||||||||||||||
Issuance of shares | 21.8 | € 0.1 | (37.5) | 82 | (22.8) | ||||||||||||||
Dividend paid | (597.1) | (597.1) | |||||||||||||||||
Ending Balance, shares at Dec. 31, 2018 | [1] | 421,100,000 | |||||||||||||||||
Ending Balance at Dec. 31, 2018 | 11,641 | € 38.6 | € 3,741.3 | € (1,621.8) | € 9,197.9 | € 285 | [3] | ||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||||||
Opening balance adjustment on Retained Earnings | € 62.5 | ||||||||||||||||||
[1] | As of December 31, 2018, the number of issued shares was 431,465,767. This includes the number of issued and outstanding shares of 421,097,729 and the number of treasury shares of 10,368,038. As of December 31, 2017, the number of issued shares was 431,464,705. This includes the number of issued and outstanding shares of 427,393,592 and the number of treasury shares of 4,071,113. As of December 31, 2016, the number of issued shares was 439,199,514. This includes the number of issued and outstanding shares of 429,941,232 and the number of treasury shares of 9,258,282. | ||||||||||||||||||
[2] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. The Retained Earnings balance at January 1, 2016 has been increased by EUR 66.1 million to reflect the changes in the new Revenue Recognition Standard. | ||||||||||||||||||
[3] | As of December 31, 2018, accumulated OCI, net of taxes, consists of EUR 5.8 million loss relating to our proportionate share of other comprehensive income from equity method investments (2017: EUR 1.0 million loss; 2016: no amount), EUR 282.3 million relating to foreign currency translation gain (2017: EUR 264.1 million gain; 2016: EUR 593.1 million gain) and EUR 8.5 million relating to unrealized gains on financial instruments (2017: EUR 11.6 million losses; 2016: EUR 8.1 million gain). | ||||||||||||||||||
[4] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||||||||||||||||||
[5] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||||||||||||||||||
[6] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||||||||||||||||||
[7] | In 2017 (EUR 28.6 million) and 2016 (EUR 27.9 million) is recognized to increase equity to the fair value of the shares issued to the Participating Customers in the CCIP. The portion of the NRE funding allocable to the shares was recognized over the NRE Funding Agreements period (2013-2017). | ||||||||||||||||||
[8] | Share-based payments include an amount of EUR 1.5 million in relation to the fair value compensation of unvested equity awards exchanged as part of the acquisition of HMI. | ||||||||||||||||||
[9] | 6.Issuance of shares includes 5,866,001 ordinary shares issued in relation to the acquisition of HMI for a total fair value of EUR 580.6 million. | ||||||||||||||||||
[10] | 8.In 2016, net proceeds from issuance of shares include an amount of EUR 536.6 million which is included in the consideration transferred for the acquisition of HMI. See Note 2 Business combinations. | ||||||||||||||||||
[11] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Consolidated Statements of Sh_2
Consolidated Statements of Shareholders' Equity (Parenthetical) - EUR (€) € in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2018 | ||
Number of issued shares | 431,464,705 | 439,199,514 | 431,465,767 | |
Number of issued and outstanding shares | 427,393,592 | 429,941,232 | ||
Number of treasury shares | 4,071,113 | 9,258,282 | 10,368,038 | |
Accumulated Other Comprehensive Income (Loss), proportionate share of other comprehensive income for equity method investments | € (1) | € 0 | € (5.8) | |
Accumulated OCI, net of taxes relating to foreign currency translation gain (loss) | 264.1 | 593.1 | 282.3 | |
Accumulated OCI, net of taxes unrealized gains (losses) on financial instruments | (11.6) | 8.1 | € 8.5 | |
Fair value of shares issued to participating customers | [1] | 28.6 | 27.9 | |
Fair value compensation of unvested equity awards to be exchanged | 1.5 | |||
Additional Paid-in Capital [Member] | ||||
Fair value of shares issued to participating customers | [1] | € 28.6 | € 27.9 | |
Common Stock [Member] | ||||
Number of issued shares | 431,465,767 | |||
Number of issued and outstanding shares | 427,393,592 | 421,097,729 | ||
[1] | In 2017 (EUR 28.6 million) and 2016 (EUR 27.9 million) is recognized to increase equity to the fair value of the shares issued to the Participating Customers in the CCIP. The portion of the NRE funding allocable to the shares was recognized over the NRE Funding Agreements period (2013-2017). |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - EUR (€) € in Millions | 12 Months Ended | ||||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||||
Cash Flows from Operating Activities | |||||||
Net income | [1] | € 2,591.6 | € 2,066.7 | [2],[3],[4] | € 1,557.8 | [2],[3],[4] | |
Adjustments to reconcile net income to net cash flows from operating activities: | |||||||
Depreciation and amortization | [5] | 422.7 | 417.5 | [4] | 356.9 | [4] | |
Impairment | 15.4 | 9 | [4] | 3.5 | [4] | ||
Loss on disposal of property, plant and equipment | [6] | 3.6 | 2.8 | [4] | 5.2 | [4] | |
Share-based payments | 46.3 | 53.1 | [4] | 47.7 | [4] | ||
Allowance for doubtful receivables | 11.2 | 7.8 | [4] | 3.2 | [4] | ||
Allowance for obsolete inventory | 218.2 | 120.1 | [4] | 73 | [4] | ||
Deferred Income Taxes | (238.5) | (8.4) | [4] | 13.4 | [4] | ||
Proceeds from Equity Method Investment, Distribution | 61.6 | 36.4 | [4] | 0 | [4] | ||
Changes in assets and liabilities: | |||||||
Accounts receivable | 201.2 | (1,136.4) | [4] | 213.4 | [4] | ||
Finance receivables | (664.9) | 237 | [4] | (62.9) | [4] | ||
Inventories | [6] | (515.7) | (284.1) | [4] | 5.4 | [4] | |
Other assets | (404) | (169.4) | [4] | (122.1) | [4] | ||
Accrued and other liabilities | 237.7 | 90.9 | [4] | (27) | [4] | ||
Accounts payable | 97.9 | 266.6 | [4] | 50.9 | [4] | ||
Current tax assets and liabilities | 13.1 | (151.8) | [4] | 93.4 | [4] | ||
Contract assets and liabilities | 975.3 | 260.5 | [4] | (546) | [4] | ||
Net cash provided by operating activities | 3,072.7 | 1,818.3 | [4] | 1,665.9 | [4] | ||
Cash Flows from Investing Activities | |||||||
Purchase of property, plant and equipment | [7] | (574) | [8],[9] | (338.9) | [4] | (316.3) | [4] |
Purchase of intangible assets | (35.5) | (19.1) | [4] | (8.4) | [4] | ||
Purchase of short-term investments | (918.1) | (1,129.3) | [4] | (2,520) | [4] | ||
Maturity of short-term investments | 1,034.1 | 1,250 | [4] | 2,320 | [4] | ||
Cash from (used for) derivative financial instruments | (2.4) | 27 | [4] | (15) | [4] | ||
Loans issued and other investments | (1) | (0.6) | [4] | 0 | [4] | ||
Repayment on loans | 5.4 | 1.6 | [4] | (7.4) | [4] | ||
Acquisition of equity method investments | 0 | (1,019.7) | [4] | 0 | [4] | ||
Dividend income from Equity Method Investments | [4] | 89.2 | 19.7 | ||||
Acquisition of subsidiaries (net of cash acquired) | 0 | 0 | [4] | (2,641.3) | [4] | ||
Net cash used in investing activities | (491.5) | (1,229) | [4] | (3,188.4) | [4] | ||
Cash Flows from Financing Activities | |||||||
Dividend paid | (597.1) | (516.7) | [4] | (445.9) | [4] | ||
Purchase of treasury shares | (1,146.2) | (500) | [4] | (400) | [4] | ||
Net proceeds from issuance of shares | 21.8 | 50.6 | [4] | 582.7 | [4],[10] | ||
Net proceeds from issuance of notes | 0 | 0 | [4] | 2,230.6 | [4],[9],[11] | ||
Repayment of debt | (2.8) | [9] | (243) | [4] | (4.7) | [4] | |
Tax benefit (deficit) from share-based payments | 0 | 0 | [4] | 0.9 | [4] | ||
Net cash from (used in) financing activities | (1,724.3) | (1,209.1) | [4] | 1,963.6 | [4] | ||
Net cash flows | 856.9 | (619.8) | [4] | 441.1 | [4] | ||
Effect of changes in exchange rates on cash | 5.2 | (28.1) | [4] | 7.1 | [4] | ||
Net increase (decrease) in cash and cash equivalents | 862.1 | (647.9) | [4] | 448.2 | [4] | ||
Cash and cash equivalents at beginning of the year | [4] | 2,259 | [12] | 2,906.9 | 2,458.7 | ||
Cash and cash equivalents at end of the year | 3,121.1 | 2,259 | [4],[12] | 2,906.9 | [4] | ||
Supplemental Disclosures of Cash Flow Information: | |||||||
Interest paid | (61) | (91.4) | [4] | (55.7) | [4] | ||
Income taxes paid | € (554.4) | € (475) | [4] | € (115.9) | [4] | ||
[1] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. The Retained Earnings balance at January 1, 2016 has been increased by EUR 66.1 million to reflect the changes in the new Revenue Recognition Standard. | ||||||
[2] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||||||
[3] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||||||
[4] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||||||
[5] | In 2018, depreciation and amortization includes EUR 315.4 million of depreciation of property, plant and equipment (2017: EUR 308.2 million, 2016: EUR 290.8 million), EUR 103.7 million of amortization of intangible assets (2017: EUR 105.5 million, 2016: EUR 63.5 million) and EUR 3.6 million of amortization of underwriting commissions and discount related to the bonds and credit facility (2017: EUR 3.8 million, 2016: EUR 2.6 million). | ||||||
[6] | In 2018, an amount of EUR 70.8 million (2017: EUR 45.8 million, 2016: EUR 22.8 million) of the disposal of property, plant and equipment relates to non-cash transfers to inventory. Since the transfers between inventory and property, plant and equipment are non-cash events, these are not reflected in these Consolidated Statements of Cash Flows. Additionally, in 2018, an amount of EUR 54.7 million of land and buildings was reclassified to other assets. See Note 13 Property, plant and equipment. | ||||||
[7] | 5.In 2018, an amount of EUR 59.8 million (2017: EUR 13.4 million, 2016: EUR 21.6 million) of the additions in property, plant and equipment relates to non-cash transfers from inventory. Since the transfers between inventory and property, plant and equipment are non-cash events, these are not reflected in these Consolidated Statements of Cash Flows. See Note 13 Property, plant and equipment. | ||||||
[8] | 6.In 2018, an amount of EUR 191.6 million (2017: EUR 36.5 million) of the purchase of property, plant and equipment relates to funding provided for tooling to our equity method investment. This funding is not reflected as addition in our movement schedule of property, plant and equipment, see Note 13 Property, plant and equipment, but is presented as part of the other assets. For further details regarding our equity method investments see Note 10 Equity method investments. | ||||||
[9] | 7.In 2018, an amount of EUR 24.5 million of the purchase of property, plant and equipment relates to exercising the purchase option of our headquarters in Veldhoven in June 2018. This cash outflow is not reflected as addition in our movement schedule of property, plant and equipment as it was previously recognized as property, plant and equipment as Koppelenweg I B.V. was a VIE. See Note 13 Property, plant and equipment. | ||||||
[10] | 8.In 2016, net proceeds from issuance of shares include an amount of EUR 536.6 million which is included in the consideration transferred for the acquisition of HMI. See Note 2 Business combinations. | ||||||
[11] | 9.In 2016, net proceeds from issuance of notes relate to the total cash proceeds of EUR 2,230.6 million (net of incurred transaction costs) from the issuance of our EUR 500 million 0.625 percent senior notes due 2022, our EUR 1,000 million 1.375 percent senior notes due 2026 and our EUR 750 million 1.625 percent senior notes due 2026. | ||||||
[12] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Consolidated Statements of Ca_2
Consolidated Statements of Cash Flows (Parenthetical) - EUR (€) € in Millions | 1 Months Ended | 12 Months Ended | ||||
Dec. 31, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Depreciation | € 315.4 | € 308.2 | € 290.8 | |||
Amortization of Intangible Assets | 103.7 | 105.5 | 63.5 | |||
Amortization of underwriting commissions related to bonds and credit facility | 3.6 | 3.8 | 2.6 | |||
Disposal related to non-cash transfers to inventory | 70.8 | 45.8 | 22.8 | |||
Reclass PPE to Other Assets | 54.7 | |||||
Lessor, Direct Financing Lease, Lessee Option to Purchase Underlying Asset | 24.5 | |||||
Business Combination, Consideration Transferred, Equity Interests Issued Agreed Upon Share Price | € 536.6 | |||||
Net proceeds from issuance of notes | 0 | 0 | [1] | 2,230.6 | [1],[2],[3] | |
Non-Cash Transfers From Inventory [Member] | ||||||
Additions related to non-cash transfers | 59.8 | 13.4 | € 21.6 | |||
Funding provided for tooling equity method investment [Member] | ||||||
Additions related to non-cash transfers | € 191.6 | € 36.5 | ||||
[1] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[2] | 7.In 2018, an amount of EUR 24.5 million of the purchase of property, plant and equipment relates to exercising the purchase option of our headquarters in Veldhoven in June 2018. This cash outflow is not reflected as addition in our movement schedule of property, plant and equipment as it was previously recognized as property, plant and equipment as Koppelenweg I B.V. was a VIE. See Note 13 Property, plant and equipment. | |||||
[3] | 9.In 2016, net proceeds from issuance of notes relate to the total cash proceeds of EUR 2,230.6 million (net of incurred transaction costs) from the issuance of our EUR 500 million 0.625 percent senior notes due 2022, our EUR 1,000 million 1.375 percent senior notes due 2026 and our EUR 750 million 1.625 percent senior notes due 2026. |
General Information _ Summary o
General Information / Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
General Information / Summary of Significant Accounting Policies | General information / summary of significant accounting policies ASML, with its corporate headquarters in Veldhoven, the Netherlands, is engaged in the development, production, marketing, selling and servicing of advanced semiconductor equipment. ASML’s principal operations are in the Netherlands, the US and Asia. Our shares are listed for trading in the form of registered shares on Euronext Amsterdam and on NASDAQ. The principal trading market of our ordinary shares is Euronext Amsterdam. Basis of preparation The accompanying Consolidated Financial Statements are stated in millions of euros unless indicated otherwise. The accompanying Consolidated Financial Statements have been prepared in conformity with US GAAP . We have reclassified certain prior period amounts to align with the current period presentation. Use of estimates The preparation of our Consolidated Financial Statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities on the balance sheet dates , and the reported amounts of net sales and costs during the reported periods. Actual results could differ from those estimates. We evaluate our estimates continuously and we base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances. Actual results may differ from these estimates if the assumptions prove incorrect. To the extent there are material differences between actual results and these estimates, our future results could be materially and adversely affected. We believe that the accounting policies described below require us to make significant judgments and estimates in the preparation of our Consolidated Financial Statements. Our most critical accounting estimates include: • Revenue recognition • Business combinations • Inventories • Income taxes • Contingencies and litigation • Lease accounting • Evaluation of long-lived assets for impairment Principles of consolidation The Consolidated Financial Statements include the Financial Statements of ASML Holding N.V. and all of its subsidiaries and the variable interest entity of which ASML was the primary beneficiary until June 29, 2018. All intercompany profits, balances and transactions have been eliminated in the consolidation. Subsidiaries Subsidiaries are all entities over which ASML has the control to govern financial and operating policies generally accompanying a shareholding of more than 50 percent of the outstanding voting rights. As from the date that these criteria are met, the financial data of the relevant subsidiaries are included in the consolidation. Business combinations Acquisitions of subsidiaries are included on the basis of the acquisition method. The cost of acquisition is measured based on the consideration transferred at fair value, the fair value of identifiable assets distributed and the fair value of liabilities incurred or assumed at the acquisition date (i.e., the date which we obtain control). The excess of the costs of an acquired subsidiary over the net of the amounts assigned to identifiable assets acquired and liabilities incurred or assumed, is capitalized as goodwill. Acquisition-related costs are expensed when incurred in the period they arise or the service is received. Variable interest entities We assess whether we have a controlling financial interest in any variable interest entity. We consolidate a variable interest entity when we have a variable interest that provides us with a controlling financial interest. We are deemed to have a controlling financial interest in a variable interest entity if both of the following characteristics are met: a) the power to direct the activities of a variable interest entity that most significantly impact the variable interest entity‘s economic performance and b) the obligation to absorb losses of the variable interest entity that could potentially be significant to the variable interest entity or the right to receive benefits from the variable interest entity that could potentially be significant to the variable interest entity. Foreign currency translation The financial information for subsidiaries outside the euro-zone is measured using a mix of local currencies or the euro as the functional currency. The Financial Statements of those foreign subsidiaries are translated into euros in the preparation of ASML’s Consolidated Financial Statements. Assets and liabilities are translated into euros at the exchange rate on the respective balance sheet dates. Income and costs are translated into euros based on the average exchange rate for the corresponding period. The resulting translation adjustments are recorded directly in shareholders’ equity. Derivative financial instruments We use derivative financial instruments for the management of foreign currency risks and interest rate risks. We measure all derivative financial instruments based on fair values derived from market prices of the instruments. We adopt hedge accounting for hedges that are highly effective in offsetting the identified hedged risks taking into account required effectiveness criteria. Derivatives are initially recognized at fair value on the date a derivative contract is entered into and subsequently remeasured. The method of recognizing the resulting gain or loss depends on whether the derivative is designated as a hedging instrument, and if so, the nature of the item being hedged. We designate derivatives as one of the following: • A hedge of an exposure relating to changes in the fair value of a recognized asset or liability, that is attributable to a particular risk (fair value hedge). • A hedge of an exposure relating to the variability in the cash flows of a recognized asset or liability, or of a forecasted transaction, that is attributable to a particular risk (cash flow hedge). • A hedge of the foreign currency exposure relating to a net investment in a foreign operation (net investment hedge). We document at the inception of the transaction the relationship between hedging instruments and hedged items, as well as our risk management objectives and strategy for undertaking various hedging transactions. We also document, both at hedge inception and on an ongoing basis, whether derivatives that are used in hedging transactions are highly effective in offsetting changes in fair values or cash flows of hedged items. The cash flows resulting from the derivative financial instruments are classified in the Consolidated Statements of Cash Flows according to the nature of the hedged item. Fair value hedge Changes in the fair value of a derivative financial instrument, that is designated and qualified as a fair value hedge, along with the gain or loss on the hedged asset or liability that is attributable to the hedged risk, are recorded in the Consolidated Statements of Operations. Hedge accounting is discontinued when we revoke the hedging relationship, the hedging instrument expires or is sold, terminated or exercised, or no longer qualifies for hedge accounting. The adjustment to the carrying amount of the hedged item arising from the hedged risk is amortized to the Consolidated Statements of Operations from that date. Interest rate swaps that are being used to hedge the fair value of fixed loan coupons payable are designated as fair value hedges. The change in fair value is intended to offset the change in the fair value of the underlying fixed loan coupons, which is recorded accordingly. The gain or loss relating to the ineffective portion of interest rate swaps hedging fixed loan coupons payable is recognized in the Consolidated Statements of Operations as interest and other, net. Cash flow hedge Changes in the fair value of a derivative that is designated and qualified as a cash flow hedge are recorded in OCI , net of taxes, until the underlying hedged transaction is recognized in the Consolidated Statements of Operations. In the event that the underlying hedge transaction will not occur within the specified time period, the gain or loss on the related cash flow hedge is released from OCI and included in the Consolidated Statements of Operations, unless extenuating circumstances exist that are related to the nature of the forecasted transaction and are outside our control or influence and which cause the forecasted transaction to be probable of occurring on a date that is beyond the specified time period. Foreign currency hedging instruments that are being used to hedge cash flows related to forecasted sales or purchase transactions in non-functional currencies are designated as cash flow hedges. The gain or loss relating to the ineffective portion of the foreign currency hedging instruments is recognized in the Consolidated Statements of Operations in net sales or cost of sales. Interest rate swaps that are being used to hedge changes in the variability of future interest cash flows to certain of our operating lease obligations are designated as cash flow hedges. The changes in fair value of the derivatives are intended to offset changes in future interest cash flows of such operating lease obligations. The gain or loss relating to the ineffective portion of interest rate swaps hedging the variability of future interest cash flows is recognized in the Consolidated Statements of Operations as interest and other, net. Net investment hedge Foreign currency hedging instruments that are being used to hedge changes in the value of a net investment are designated as net investment hedges . Changes in the fair value of a derivative that is designated and qualifies as a net investment hedge are recorded in other comprehensive income . The gain or loss relating to the ineffective portion is recognized in the Consolidated Statements of Operations as interest and other, net. Gains and losses accumulated in OCI are recognized in the Consolidated Statements of Operations when the foreign operation is (partially) disposed or sold. Cash and cash equivalents Cash and cash equivalents consist primarily of highly liquid investments, such as bank deposits, money market funds and interest-bearing bank accounts with insignificant interest rate risk and remaining maturities of 3 months or less at the date of acquisition. Short-term investments Investments with remaining maturities longer than 3 months and less than 1 year at the date of acquisition are presented as short-term investments. Gains and losses other than impairments, interest income and foreign exchange results, are recognized in OCI until the short-term investments are derecognized. Upon derecognition, the cumulative gain or loss recognized in OCI, is recognized in the Consolidated Statements of Operations. Accounts receivable Accounts receivable are measured at fair value and are subsequently measured at amortized cost using the effective interest rate method, less allowance for doubtful debts. Finance receivable Finance receivables consist of receivables in relation to sales-type leases. We perform ongoing credit evaluations on our customers’ financial condition. We periodically review whether an allowance for credit losses is needed by considering factors such as historical payment experience, credit quality, the aging of the finance receivables balances, and current economic conditions that may affect a customer’s ability to pay. Inventories Inventories are stated at the lower of cost (applying the first-in, first-out method) or net realizable value. Cost includes net prices paid for materials purchased, charges for freight and customs duties, production labor cost and factory overhead . Allowances are made for defect, obsolete or excess inventory . Allowances for inventory are determined based on the expected demand which is derived from sales forecasts, technical obsolescence as well as the expected net realizable value of the inventory. Equity method investments Equity investments, through which we are able to exercise significant influence but do not control, are accounted for using the equity method and presented on our Consolidated Balance Sheets within equity method investments . The difference between the cost of our investment and our proportionate share of the carrying value of the equity method investments’ underlying net assets as of the acquisition date is the basis difference. The basis difference is allocated to the identifiable assets and liabilities based on their fair value as of the acquisition date (i.e., the date which we obtain significant influence), with the excess costs of the investment over our proportional fair value of the identifiable assets and liabilities being equity method goodwill. Under the equity method, after initial recognition at cost, our equity method investments are adjusted for our proportionate share of the profit or loss and other comprehensive income of the equity method investments , recognized on a one-quarter time lag and presented within profit (loss) related to equity method investments . Our proportionate share of the profit or loss of the equity method investments is adjusted for any differences in accounting principles and policies, basis difference adjustments and intra-entity profits. Receipt of dividends reduces the equity method investments , which is presented as an operating cash flow based on the nature of the distributions. Goodwill Goodwill represents the excess of the costs of an acquisition over the fair value of the amounts assigned to assets acquired and liabilities incurred or assumed of the acquired subsidiary at the date of acquisition. Goodwill on acquisition of subsidiaries is allocated to reporting units for the purpose of impairment testing. The allocation is made to those reporting units that are expected to benefit from the business combination in which the goodwill arose. Goodwill is stated at cost less accumulated impairment losses. Other intangible assets Other intangible assets include brands, intellectual property, developed technology, customer relationships, and other. Other intangible assets are stated at cost, less accumulated amortization and accumulated impairment losses. Amortization is calculated using the straight-line method based on the estimated useful lives of the assets. The following table presents the estimated useful lives of our finite-lived other intangible assets: Category Estimated useful life Brands 20 years Intellectual property 3 - 10 years Developed technology 6 - 15 years Customer relationships 8 - 18 years Other 2 - 6 years Property, plant and equipment Property, plant and equipment are stated at cost, less accumulated depreciation and accumulated impairment losses. Costs of assets manufactured by ASML include direct manufacturing costs, production overhead and interest costs incurred for qualifying assets during the construction period. Depreciation is calculated using the straight-line method based on the estimated useful lives of the related assets. In the case of leasehold improvements, the estimated useful lives of the related assets do not exceed the remaining term of the corresponding leases. The following table presents the estimated useful lives of our property, plant and equipment: Category Estimated useful life Buildings and constructions 5 - 45 years Machinery and equipment 1 - 5 years Leasehold improvements 1 - 10 years Furniture, fixtures and other equipment 3 - 5 years Land is not depreciated. Evaluation of long-lived assets for impairment Long-lived assets include equity method investments, goodwill, other intangible assets and property, plant and equipment. Our equity method investments are tested for impairment whenever events or changes in circumstances indicate that the carrying amount of the equity method investments may not be recoverable. We remeasure our equity method investments at fair value when they are deemed to be other-than-temporarily impaired. Goodwill is tested for impairment annually or whenever events or changes in circumstances indicate that the carrying amount of the goodwill may not be recoverable. These events or circumstances could include a significant change in the business climate, legal factors, operating performance indicators, competition, or sale or disposition of a significant portion of a reporting unit. To determine whether it is necessary to perform the quantitative goodwill impairment test, we first assess qualitative factors. If we determine that it is more likely than not (a likelihood of more than 50 percent ) that the fair value of a reporting unit is less than its carrying amount (including goodwill), the quantitative goodwill impairment test is performed. The recoverability of goodwill is tested by comparing the carrying amount of the reporting unit including goodwill with the fair value of the reporting unit. If the carrying amount of the reporting unit is higher than the fair value of the reporting unit, an impairment loss shall be recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. Finite-lived other intangible assets and property, plant and equipment are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of those assets may not be recoverable. An impairment loss is recognized only if the carrying amount of finite-lived other intangible assets or property, plant and equipment is not recoverable and exceeds its fair value. The carrying amount is not recoverable if it exceeds the sum of the (un)discounted forecasted cash flows resulting from the use and eventual disposition of such asset. An impairment loss is measured as the amount by which the carrying amount exceeds its fair value. In determining the fair value of long-lived assets, we make estimates about future cash flows. These estimates are based on our strategic plan updated with the latest available projections of the semiconductor industry and our income and cost expectations, which are consistent with the plans and estimates that we use to manage our business. We also make estimates and assumptions concerning our WACC. It is possible that actual results may differ from our plans, estimates and assumptions. Future adverse changes in market conditions may also require impairment of certain long-lived assets, which could have a material adverse effect on our financial condition and results of operations. High NA agreement with Carl Zeiss SMT GmbH On November 3, 2016 we agreed with Carl Zeiss SMT GmbH to support their R&D costs, capital expenditures and other supply chain investments, in respect of High NA, beginning in 2016. R&D and supply chain support costs are capitalized for 24.9 percent of this funding because it directly benefits us through our investment in Carl Zeiss SMT Holding GmbH & Co. KG. The amount capitalized is presented within equity method investments . The remainder of this support relating to supply chain support costs is charged to the cost of sales as incurred, the part related to R&D costs is charged to the operating expenses as incurred. The support provided related to capital expenditures consists of tooling and facilities. Funding provided for facilities is accounted for in property, plant & equipment as we are considered the accounting owner during the construction period. The support provided for tooling is determined to be a capital lease. Support provided for tooling prior to the asset being put into use is recorded in other assets and transferred into property, plant & equipment when put into use. Revenue From Contracts With Customers We measure revenue based on the consideration specified in the contracts with our customers, adjusted for any significant financing components, and excluding any tax amounts collected on behalf of third parties. We recognize revenue when we satisfy a performance obligation by transferring control over a good or service to our customer. Taxes assessed by a governmental authority that are imposed on a specific revenue-producing transaction, that are collected by us from our customers, are excluded from revenue. We bill our customers for, and recognize as net sales, any charges for shipping and handling costs. The related costs are recognized as cost of sales. For certain contracts and constructive obligations resulting from these arrangements, for which a loss is evident, we recognize the anticipated loss to the extent the costs of completing these contracts and constructive obligations exceed the amount of the contract price. When we satisfy these obligations, we utilize the related liability. We generate revenue from the sale of integrated patterning solutions for the semiconductor industry, which mainly consist of systems, system related options and upgrades, other holistic lithography solutions and customer services. The main portion of our net sales is derived from contractual arrangements with our customers that have multiple deliverables (performance obligations), which mainly include the sale of our systems, system related options, installation, training and extended and enhanced (optic) warranty. The main portion of our system sales results from volume purchase agreements, in which we offer customers discounts in the normal course of sales negotiations. As part of these volume purchases agreements, we may also offer free goods or services and credits that can be used towards future purchases. Occasionally, systems, with the related extended and enhanced (optic) warranties, installation and training services, are ordered individually. Our system sales agreements do not include a general right of return. For bundled packages, we account for individual goods and services, including the free or discounted goods or services, separately if they are distinct - i.e. if a product or service is separately identifiable from other items in the bundled package and if a customer can benefit from it on its own or with other resources that are readily available to the customer. The consideration paid for our performance obligations is typically fixed, unless specifically noted in the nature of the performance obligations. At times the total consideration of the contract can be dependent on the final volume of systems ordered by the customer. Payment is typically due 15-45 days after shipment or completion of the service unless described otherwise. The total consideration of the contract is allocated between all distinct performance obligations in the contract based on their stand-alone selling prices. The stand-alone selling prices are determined based on other stand-alone sales that are directly observable, when possible. However, for the majority of our performance obligations these are not available. If no directly observable evidence is available, the stand-alone selling price is estimated using the adjusted market assessment approach. These estimates are considered significant judgments. Variable consideration is estimated at contract inception for each performance obligation, and subsequently updated each quarter, using either the expected value method or most likely amount method, whichever is determined to best predict the consideration to be collected from the customer. Variable consideration is only included in the transaction price if it is considered probable that a significant revenue reversal will not occur. In certain scenarios when entering into a volume purchase agreement, free goods or services are provided directly or through a voucher that can be used on future contracts. Consideration from the contract will be allocated to these performance obligations and revenue recognized when control transfers based on the nature of the goods or service provided. Options to buy goods or services in addition to the purchase commitment are assessed to determine if they provide a material right to the customer that they would not have received if they had not entered into this contract. Each option to buy additional goods or services provided at a discount from the stand-alone selling price is considered a material right. The discount offered from the stand-alone selling price will be allocated from the consideration of the other goods and services in the contract if it is determined the customer will exercise the option to buy, adjusted for the likelihood. Revenue will be recognized in line with the nature of the related goods or services. If it is subsequently determined the customer will not exercise the option to buy, or the option expires, revenue will be recognized. Occasionally we may enter into a bill-and-hold transaction where we invoice a customer for a system that is ready for delivery but not shipped to the customer until a later date, based on customer’s request. Transfer of control is determined to have occurred only when there is a substantive reason for the arrangement, the system is separately identified as belonging to the customer, the good has been accepted by the customer and is ready for delivery, and we do not have the ability to direct the use of the system. Goods or services Nature, timing of satisfying the performance obligations, and significant payment terms New systems (established technologies) New systems sales include i-line, KrF, ArF, ArFi and EUV related systems, along with the related factory options ordered with the base system, as well as metrology and inspection systems. Prior to shipment, the majority of our systems undergo a Factory Acceptance Test (FAT) in our cleanroom facilities, effectively replicating the operating conditions that will be present on the customer’s site, in order to verify whether the system meets its standard specifications and any additional technical and performance criteria agreed with the customer. A system is shipped only after all contractual specifications are met or discrepancies from agreed upon specifications are waived and customer signoff is received for delivery. Each system’s performance is re-tested through a Site Acceptance Test (SAT) after installation at the customer site. We have never failed to successfully complete installation of a system at a customer’s premises; therefore, acceptance at FAT is considered to be proven for established technologies with a history of successful customer acceptances at SAT (equal or better than FAT). Transfer of control of a system undergoing FAT, and recognition of revenue related to this system, will occur upon delivery of the system, depending on the Incoterms. Transfer of control of a system not undergoing a FAT, and recognition of revenue related to this system, will occur upon customer acceptance of the system at SAT. Used systems We have no significant repurchase commitments in our general sales terms and conditions, however from time to time we repurchase systems that we have manufactured and sold and, following refurbishment, will resell to other customers. This repurchase decision is mainly driven by market demand expressed by other customers and less frequently by explicit or implicit contractual arrangements relating to the initial sale. We consider reasonable offers from any vendor, including customers, to repurchase used systems that we can refurbish, resell, and install as part of our normal business operations. Transfer of control of the systems, and related revenue recognition, will occur either upon delivery of the system to the carrier or upon arrival of the system to the customer’s loading dock, depending on the Incoterms and if a FAT was performed prior to shipment. If no FAT was performed, then transfer of control will be upon customer acceptance at SAT. If a FAT was performed, then transfer of control will be upon customer acceptance at FAT, refer to "New systems (established technologies)". Field upgrades and options (system enhancements) Field upgrades and options mainly relate to goods and services that are delivered for systems already installed in the customer factories. Certain upgrades require significant installation efforts, enhancing an asset the customer controls, therefore resulting in transfer of control over the period of installation, measured using the cost incurred method which is estimated using labor hours, as this best depicts the satisfaction of our obligation in transferring control. The options and other upgrades that do not require significant installation effort transfer control upon delivery, depending on the Incoterms. As long as we are not able to make a reliable estimate of the total efforts needed to complete the upgrade, we only recognize revenue to cover costs incurred. Margin will be realized at the earlier of us being able to make a reliable estimate or completion of the upgrade. New product introduction New product introductions are typically newly developed options to be used within our systems. Transfer of control and revenue recognition for new product introductions occurs upon customer acceptance (generally at SAT). Once there is an established history of successful installation and customer acceptance, revenue will be recognized consistent with other systems and goods after transfer of control. Installation Installation is provided within the selling price of a system. Installation is considered to be distinct as it does not significantly modify the system being purchased and the customer or a third party could be capable of performing the installation themselves if desired. Transfer of control takes place over the period of installation from delivery through SAT, measured on a straight-line basis, as our performance is satisfied evenly over this period of time. As long as we are not able to make a reliable estimate of the total efforts needed to complete the installation, we only recognize revenue to cover costs incurred. Margin will be realized at the earlier of us being able to make a reliable estimate or installation completion. Warranties We provide standard warranty coverage on our systems for 12 months, providing labor and non-consumable parts necessary to repair our systems during these warranty periods. These standard warranties cannot be purchased and do not provide a service in addition to the general assurance the system will perform as promised. As a result, no revenue is allocated to these standard warranties. Both the extended and enhanced (optic) warranties on our systems are accounted for as a separate performance obligation, with transfer of control taking place over the warranty period, measured on a straight-line basis, as this is a stand-ready obligation. Time-based licenses and related service Time-based licenses relate to software licenses and the related service which are sold for a period of time. The licenses and the related service are not considered to be individually distinct and the transfer of control takes place over the license term, measured on a straight-line basis, as our performance is satisfied evenly over this period of time. Payments are made in installments throughout the license term. Goods or services Nature, timing of satisfying the performance obligations, and significant payment terms Application projects Application projects are node transition and consulting projects which at times may be provided as free service within a volume purchase agreement. Measuring satisfaction of this performance obligation is performed through an input method based on the labor hours expended relative to the estimated total labor hours as this best depicts the transfer of control of these kind of services. As long as we are not able to make a reliable estimate of the total efforts needed to complete these kind of projects, we only recognize revenue to cover costs incurred. Margin will be realized at the earlier of us being able to make a reliable estimate or project completion. Service contracts Service contracts are entered into with our customers to support our systems used in their ongoing operations during the systems lifecycle, typically in the form of full-service agreements, limited manpower agreements, other labor agreements, parts availability or parts usage agreements. These services are typically for a specified period of time. Control transfers over this period of time, measured on a straight-line basis, as these are stand-ready obligations, with an exception for the labor hour pool service contracts for which we recognize revenue in line with invoicing, using the practical expedient in ASC 606-10-55-18. Invoicing is typically performed monthly or quarterly throughout the service period, typically payable within 15-45 days. Billable parts and labor Billable labor represents maintenance services to our |
Business Combinations
Business Combinations | 12 Months Ended |
Dec. 31, 2018 | |
Business Combinations [Abstract] | |
Business Combinations | Business combinations On November 22, 2016 , we concluded the acquisition of HMI and obtained control through acquiring 100 percent of the issued share capital of HMI, for a total consideration of EUR 3.0 billion . There were no contingent consideration arrangements. The total consideration was allocated to other intangible assets of EUR 606.7 million , other net assets of EUR 259.2 million and goodwill of EUR 2,115.0 million . The majority of the goodwill arising on the acquisition of HMI is attributable to buyer specific synergies, net sales and profits assigned to future multi-beam technology, net sales and profits assigned to next generation single-beam technology and HMI workforce. Synergies relate to the unique combination of HMI’s inspection tools and our defect prediction/pattern fidelity control software. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair value measurements Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement hierarchy prioritizes the inputs to valuation techniques used to measure fair value as follows: • Level 1: Valuations based on inputs such as quoted prices for identical assets or liabilities in active markets that the entity has the ability to access. • Level 2: Valuations based on inputs other than level 1 inputs such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities. • Level 3: Valuations based on inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). A financial instrument’s fair value classification is based on the lowest level of any input that is significant in the fair value measurement hierarchy. Financial assets and financial liabilities measured at fair value on a recurring basis Investments in money market funds (as part of our cash and cash equivalents) have fair value measurements which are all based on quoted prices for identical assets or liabilities. Our short-term investments consist of deposits with a remaining maturity beyond three months at the date of acquisition with financial institutions that have investment grade credit ratings. The fair value of the deposits is determined with reference to quoted market prices in an active market for similar assets or discounted cash flow analysis. The principal market in which we execute our derivative contracts is the institutional market in an over-the-counter environment with a high level of price transparency. The market participants usually are large commercial banks. The valuation inputs for our derivative contracts are based on quoted prices and quoting pricing intervals from public data sources; they do not involve management judgment. The valuation technique used to determine the fair value of forward foreign exchange contracts (used for hedging purposes) approximates the net present value technique which is the estimated amount that a bank would receive or pay to terminate the forward foreign exchange contracts at the reporting date, taking into account current interest rates and current exchange rates. The valuation technique used to determine the fair value of interest rate swaps (used for hedging purposes) is the net present value technique, which is the estimated amount that a bank would receive or pay to terminate the swap agreements at the reporting date, taking into account current interest rates . Our Eurobonds serve as hedged items in fair value hedge relationships in which we hedge the variability of changes in the fair value of our Eurobonds due to changes in market interest rates with interest rate swaps. The fair value changes of these interest rate swaps are recorded on the Consolidated Balance Sheets under derivative financial instruments (within other current and non-current assets and other current and non-current liabilities) and the carrying amounts of the Eurobonds are adjusted for the effective portion of these fair value changes only. For the actual aggregate carrying amount and the fair value of our Eurobonds, see Note 16 Long-term debt . The following tables present our financial assets and financial liabilities that are measured at fair value on a recurring basis: As of December 31, 2018 Level 1 Level 2 Level 3 Total (in millions) EUR EUR EUR EUR Assets measured at fair value Derivative financial instruments 1 — 101.9 — 101.9 Money market funds 2 2,342.6 — — 2,342.6 Short-term investments 3 — 913.3 — 913.3 Total 2,342.6 1,015.2 — 3,357.8 Liabilities measured at fair value Derivative financial instruments 1 — 47.4 — 47.4 Assets and Liabilities for which fair values are disclosed Long-term debt 4 3,119.4 — — 3,119.4 1. Derivative financial instruments consist of forward foreign exchange contracts and interest rate swaps. See Note 4 Financial risk management . 2. Money market funds are part of our cash and cash equivalents. See Note 5 Cash and cash equivalents and short-term investments . 3. Short-term investments consist of deposits with a remaining maturity longer than three months, but less than one year at the date of acquisition. See Note 5 Cash and cash equivalents and short-term investments . 4. Long-term debt relates to Eurobonds. See Note 16 Long-term debt . As of December 31, 2017 Level 1 Level 2 Level 3 Total (in millions) EUR EUR EUR EUR Assets measured at fair value Derivative financial instruments 1 — 115.7 — 115.7 Money market funds 2 1,329.4 — — 1,329.4 Short-term investments 3 — 1,029.3 — 1,029.3 Total 1,329.4 1,145.0 — 2,474.4 Liabilities measured at fair value Derivative financial instruments 1 — 67.3 — 67.3 Assets and Liabilities for which fair values are disclosed Long-term debt 4 3,193.2 — — 3,193.2 1. Derivative financial instruments consist of forward foreign exchange contracts and interest rate swaps. See Note 4 Financial risk management . 2. Money market funds are part of our cash and cash equivalents. See Note 5 Cash and cash equivalents and short-term investments . 3. Short-term investments consist of deposits with a remaining maturity longer than three months, but less than one year at the date of acquisition. See Note 5 Cash and cash equivalents and short-term investments . 4. Long-term debt relates to Eurobonds. See Note 16 Long-term debt . There were no transfers between levels during the years ended December 31, 2018 and December 31, 2017 . Financial assets and financial liabilities that are not measured at fair value The carrying amount of cash and cash equivalents, accounts payable, and other current financial assets and liabilities approximate their fair value because of the short-term nature of these instruments. Accounts receivable and finance receivables also approximate their fair value because of the fact that any recoverability loss is reflected in an impairment loss. Assets and liabilities measured at fair value on a non-recurring basis In 2017 and 2018 , we had no significant fair value measurements on a non-recurring basis. We did no t recognize any impairment charges for goodwill and other intangible assets during 2017 and 2018 . See Note 11 Goodwill and Note 12 Other intangible assets for more information. |
Financial Risk Management
Financial Risk Management | 12 Months Ended |
Dec. 31, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Financial Risk Management | Financial risk management We are exposed to certain financial risks such as market risk (including foreign currency risk and interest rate risk), credit risk, liquidity risk and capital risk. Our overall risk management program focuses on the unpredictability of financial markets and seeks to minimize potentially adverse effects on our financial performance. We use derivative financial instruments to hedge certain risk exposures. None of our transactions are entered into for trading or speculative purposes. We believe that market information is the most reliable and transparent measure for our derivative financial instruments that are measured at fair value. To mitigate the risk that any of our counterparties in hedging transactions are unable to meet their obligations, we only enter into transactions with a limited number of major financial institutions that have investment grade credit ratings. Also, we closely monitor the creditworthiness of our counterparties. Concentration risk is mitigated by limiting the exposure to each of the individual counterparties. Our risk management program focuses appropriately on the current environment of uncertainty in the financial markets. Foreign currency risk management We are exposed to currency risks. Our Financial Statements are expressed in euros. Accordingly, our results of operations are exposed to fluctuations in exchange rates between the euro and such other currencies, and changes in currency exchange rates can result in losses in our Financial Statements. We are particularly exposed to fluctuations in the exchange rates between the US dollar and the euro, and to a lesser extent to the Japanese yen and the Taiwanese dollar in relation to the euro. We incur costs of sales predominantly in euros with portions also denominated in US and Taiwanese dollars, particularly following our acquisitions of Cymer in 2013 and HMI in 2016. A small portion of our operating results are driven by movements in currencies other than the euro, yen, US dollar or Taiwanese dollar. It is our policy to hedge material transaction exposures, such as forecasted sales and purchase transactions, and material net remeasurement exposures, such as accounts receivable and payable. We hedge these exposures through the use of foreign exchange contracts. As of December 31, 2018 , accumulated OCI includes EUR 10.9 million representing the total anticipated gain to be released to cost of sales ( 2017 : loss EUR 12.5 million and 2016 : gain EUR 10.4 million ) (net of taxes: 2018 : gain EUR 9.7 million ; 2017 : loss EUR 11.2 million ; 2016 : gain EUR 9.3 million ), which will offset the euro equivalent of foreign currency denominated forecasted purchase transactions. All amounts are expected to be released over the next 12 months . As of December 31, 2018 , accumulated OCI includes EUR (1.4) million ( 2017 : no amount ; 2016 : EUR 0.2 million ), representing the total anticipated gain to be released to sales. The effectiveness of all contracts for which we apply hedge accounting is monitored on a quarterly basis throughout the life of the hedges. During 2018 , 2017 and 2016 , no ineffective hedge relationships were recognized. As of December 31, 2018 , EUR 11.9 million loss ( 2017 : EUR 13.9 million gain ) representing the effective portion of hedges on net investments was recognized in accumulated OCI. Interest rate risk management We have interest-bearing assets and liabilities that expose us to fluctuations in market interest rates. We use interest rate swaps to align the interest-typical terms of interest-bearing liabilities with the interest-typical terms of interest-bearing assets. There may be residual interest rate risk to the extent the asset and liability positions do not fully offset. As part of our hedging policy, we use interest rate swaps to hedge changes in fair value of our Eurobonds due to changes in market interest rates, thereby offsetting the variability of future interest receipts on part of our cash and cash equivalents. During 2018 , these hedges were highly effective in hedging the fair value exposure to interest rate movements. The changes in fair value of the Eurobonds were included in the Consolidated Statements of Operations in the same period as the changes in the fair value of the interest rate swaps. Furthermore, as part of our hedging policy, we use interest rate swaps to hedge the variability of future interest cash flows relating to certain of our operating lease obligations. In June 2018, these interest rate swaps matured together with the related operating lease obligation. Over the lifetime of the hedge relationship the hedge was highly effective in hedging the cash flow exposure to interest rate movements. Financial instruments We use foreign exchange contracts to manage our foreign currency risk and interest rate swaps to manage our interest rate risk. The following table summarizes the notional amounts and estimated fair values of our derivative financial instruments: As of December 31 2017 2018 (in millions) Notional amount EUR Fair Value EUR Notional amount EUR Fair Value EUR Forward foreign exchange contracts 1,146.2 18.1 134.1 (2.0 ) Interest rate swaps 3,024.9 30.3 3,000.0 56.5 The following table summarizes our derivative financial instruments per category: As of December 31 2017 2018 (in millions) Assets EUR Liabilities EUR Assets EUR Liabilities EUR Interest rate swaps — cash flow hedges — 0.6 — — Interest rate swaps — fair value hedges 93.6 62.7 88.5 32.0 Forward foreign exchange contracts — cash flow hedges 0.7 2.6 6.5 0.9 Forward foreign exchange contracts — net investment hedge 1.2 1.2 — 2.6 Forward foreign exchange contracts — no hedge accounting 20.2 0.2 6.9 11.9 Total 115.7 67.3 101.9 47.4 Less non-current portion: Interest rate swaps — fair value hedges 65.2 62.7 59.7 32.0 Total non-current portion 65.2 62.7 59.7 32.0 Total current portion 50.5 4.6 42.2 15.4 The fair value part of a hedging derivative financial instrument that has a remaining term of 12 months or less after balance sheet date is classified as current asset or liability. When the fair value part of a hedging derivative has a term of more than 12 months after balance sheet date, it is classified as non-current asset or liability. The current portion of derivative financial instruments is included in other current assets and current accrued and other liabilities in the Consolidated Balance Sheets . The non-current portion of derivative financial instruments is included in other non-current assets and non-current accrued and other liabilities in the Consolidated Balance Sheets . For further information regarding our derivative financial instruments, see Note 3 Fair value measurement . Foreign exchange contracts The notional principal amounts of the outstanding forward foreign exchange contracts in the main currencies US dollar, Japanese yen and Taiwanese dollar at December 31, 2018 are USD 348.6 million , JPY 6.0 billion and TWD 8.8 billion ( 2017 : USD 796.3 million , JPY 7.4 billion and TWD 16.6 billion ). The hedged highly probable forecasted transactions denominated in foreign currency are expected to occur at various dates during the coming 12 months . Gains and losses recognized in OCI on forward foreign exchange contracts included in a hedge relationship will be recognized in the Consolidated Statements of Operations in the period during which the hedged forecasted transactions affect the Consolidated Statements of Operations . In 2018 , we recognized a net amount of EUR 11.8 million loss ( 2017 : EUR 3.1 million gain ; 2016 : EUR 2.4 million loss ) in the Consolidated Statements of Operations resulting from effective cash flow hedges for forecasted sales and purchase transactions that occurred in the year. Furthermore, we recognized a net amount of EUR 24.2 million gain in the Consolidated Statements of Operations resulting from derivative financial instruments measured at fair value through profit or loss ( 2017 : EUR 126.4 million gain ; 2016 : EUR 81.2 million loss ) , which is almost fully offset by the revaluation of the hedged monetary items. Interest rate swaps The notional principal amount of the outstanding interest rate swap contracts as of December 31, 2018 was EUR 3.0 billion ( 2017 : EUR 3.0 billion ). Sensitivity analysis financial instruments Foreign currency sensitivity We are mainly exposed to fluctuations in exchange rates between the euro and the US dollar, the euro and Taiwanese dollar and the euro and the Japanese yen. The following table details our sensitivity to a 10.0 percent strengthening of foreign currencies against the euro. The sensitivity analysis includes foreign currency denominated monetary items outstanding and adjusts their translation at the period end for a 10.0 percent strengthening in foreign currency rates. A positive amount indicates an increase in net income or equity, as shown. 2017 2018 (in millions) Impact on net income EUR Impact on equity EUR Impact on net income EUR Impact on equity EUR US dollar (6.5 ) 15.6 (8.7 ) 28.2 Japanese yen (1.8 ) 0.9 (1.7 ) (4.0 ) Taiwanese dollar (5.3 ) (22.3 ) (6.5 ) (12.7 ) Other currencies (3.4 ) — (5.9 ) — Total (17.0 ) (5.8 ) (22.8 ) 11.5 It is our policy to limit the effects of currency exchange rate fluctuations on our Consolidated Statements of Operations . The decreased effect on net income in 2018 compared with 2017 reflects our lower net exposure to currencies other than the euro at year-end 2018 . The negative effect on net income as presented in the table above for 2018 is mainly attributable to timing differences between the arising and hedging of exposures. The effects of the fair value movements of cash flow hedges, entered into for US dollar and Japanese yen transactions are recognized in equity. The US dollar and Japanese yen effect on equity in 2018 compared with 2017 is the result of an increase in outstanding purchase hedges and decrease in outstanding sales hedges. The effects of the fair value movements of net investment hedges, entered into for Taiwanese dollar transactions are recognized in equity. This effect is offset by the translation adjustment on the net investment also recorded in equity. This offset is not included in the table above. For a 10.0 percent weakening of the foreign currencies against the euro, there would be approximately an equal but opposite effect on net income and equity. Interest rate sensitivity The sensitivity analysis below has been determined based on the exposure to interest rates for both derivative financial and non-derivative financial instruments at the balance sheet date with the stipulated change taking place at the beginning of the financial year and held constant throughout the reporting period. The table below shows the effect of a 1.0 percentage point increase in interest rates on our net income and equity. A positive amount indicates an increase in net income and equity. 2017 2018 (in millions) Impact on net income EUR Impact on equity EUR Impact on net income EUR Impact on equity EUR Effect of a 1.0 percent point increase in interest rates 2.6 0.1 10.3 — The positive effect on net income mainly relates to our cash and cash equivalents and short-term investments. The positive effect on equity, is mainly attributable to the fair value movements of the interest rate swaps designated as cash flow hedges. For a 1.0 percentage point decrease in interest rates there would be approximately an equal but opposite effect on net income and equity. Credit risk management Financial instruments that potentially subject us to significant concentration of credit risk consist principally of cash and cash equivalents, short-term investments, derivative financial instruments used for hedging activities, accounts receivable and finance receivables. Cash and cash equivalents, short-term investments and derivative financial instruments contain an element of risk of the counterparties being unable to meet their obligations. Our risk management program focuses appropriately on the current environment of uncertainty in the financial markets. We invest our cash and cash equivalents and short-term investments in short-term deposits with financial institutions that have investment grade credit ratings and in money market and other investment funds that invest in high-rated short-term debt securities. To mitigate the risk that our counterparties in hedging transactions are unable to meet their obligations, we enter into transactions with a limited number of major financial institutions that have investment grade credit ratings and closely monitor their creditworthiness. Concentration risk is mitigated by limiting the exposure to each of the individual counterparties. Our customers consist of IC manufacturers located throughout the world. We perform ongoing credit evaluations of our customers’ financial condition. We mitigate credit risk through additional measures, including the use of down payments, letters of credit, and contractual ownership retention provisions. Retention of ownership enables us to recover the systems in the event a customer defaults on payment. Capital risk management We manage our capital availability risk by maintaining a conservative financial policy that focuses on liquidity and financial stability throughout industry cycles. This is pursued by maintaining a capital structure that supports a solid investment grade credit rating. |
Cash and Cash Equivalents and S
Cash and Cash Equivalents and Short-term Investments | 12 Months Ended |
Dec. 31, 2018 | |
Cash, Cash Equivalents, and Short-term Investments [Abstract] | |
Cash and Cash Equivalents and Short-term Investments | Cash and cash equivalents and short-term investments Cash and cash equivalents at December 31, 2018 include deposits with financial institutions that have investment grade credit ratings of EUR 188.2 million ( 2017 : EUR 42.1 million ) , investments in money market and other investment funds that invest in high-rated short-term debt securities of EUR 2,342.6 million ( 2017 : EUR 1,329.4 million ) and interest-bearing bank accounts of EUR 590.3 million ( 2017 : EUR 887.5 million ). Our cash and cash equivalents are predominantly denominated in euros and partly in US dollars and Taiwanese dollars. Cash and cash equivalents have insignificant interest rate risk and remaining maturities of three months or less at the date of acquisition. At December 31, 2018 no restrictions on usage of cash and cash equivalents exist ( 2017 : no restrictions). The carrying amount of these assets approximates their fair value. Short-term investments have insignificant interest rate risk and remaining maturities longer than three months but less than one year at the date of acquisition. The carrying amount of these assets approximates their fair value. No unrealized gains or losses have been recorded. |
Accounts Receivable
Accounts Receivable | 12 Months Ended |
Dec. 31, 2018 | |
Receivables [Abstract] | |
Accounts Receivable | Accounts receivable Accounts receivable consist of the following: As of December 31 2017 1 2018 (in millions) EUR EUR Accounts receivable, gross 1,744.9 1,504.9 Allowance for doubtful receivables (4.6 ) (6.7 ) Accounts receivable, net 1,740.3 1,498.2 1. As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. The non-current portion of accounts receivable is included in the non-current other assets, see Note 9 Other assets . The decrease in accounts receivable as of December 31, 2018 compared to December 31, 2017 is due to timing of payments from customers. The carrying amount of the accounts receivable approximates the fair value. We perform ongoing credit evaluations on our customers’ financial condition. We periodically review whether an allowance for credit losses is needed by considering factors such as historical payment experience, credit quality, aging of the accounts receivable balances, and current economic conditions that may affect a customer’s ability to pay. |
Finance Receivables
Finance Receivables | 12 Months Ended |
Dec. 31, 2018 | |
Receivables [Abstract] | |
Finance Receivables | Finance receivables Finance receivables consist of receivables in relation to sales-type leases. The following table lists the components of the finance receivables as of December 31, 2018 and 2017 : As of December 31 2017 1 2018 (in millions) EUR EUR Finance receivables, gross 225.1 893.7 Unearned interest (6.6 ) (7.5 ) Finance receivables, net 218.5 886.2 Current portion of finance receivables, gross 62.1 613.3 Current portion of unearned interest (3.0 ) (2.2 ) Non-current portion of finance receivables, net 159.4 275.1 1. As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. The increase in finance receivables as of December 31, 2018 compared to December 31, 2017 was mainly caused by an increase in the number of sales-type leases, as well as a change in the mix towards more high-end systems. At December 31, 2018 , finance receivables, gross due for payment in each of the next 5 years and thereafter are as follows: (in millions) EUR 2019 613.3 2020 250.6 2021 7.2 2022 22.6 2023 — Thereafter — Finance receivables, gross 893.7 Gross profit recognized at the commencement date of the lease for our sales-type leases amounts to EUR 446.5 million during 2018 ( 2017 : EUR 247.4 million ; 2016 : EUR 390.1 million ). Interest income for our sales-type leases in 2018 amounts to EUR 4.9 million ( 2017 : EUR 4.0 million ; 2016 : EUR 6.3 million ). We perform ongoing credit evaluations on our customers’ financial condition. We periodically review whether an allowance for credit losses is needed by considering factors such as historical payment experience, credit quality, the aging of the finance receivables balances, and current economic conditions that may affect a customer’s ability to pay. In 2018 , 2017 and 2016 we did no t record any expected credit losses from finance receivables. As of December 31, 2018 , the finance receivables were neither past due nor impaired. |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2018 | |
Inventory Disclosure [Abstract] | |
Inventories | Inventories Inventories consist of the following: As of December 31 2017 1 2018 (in millions) EUR EUR Raw materials 826.8 1,238.3 Work-in-process 1,430.7 1,537.5 Finished products 1,048.0 1,105.0 Inventories, gross 3,305.5 3,880.8 Provision to net realizable value (349.9 ) (441.3 ) Inventories, net 2,955.6 3,439.5 1. As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. The increase in inventory in 2018 compared to 2017 is in line with the growing business. A summary of activity in the provision to net realizable value is as follows: Year ended December 31 2017 2018 (in millions) EUR EUR Balance at beginning of year (382.7 ) (349.9 ) Addition for the year (120.1 ) (218.2 ) Effect of changes in exchange rates 7.9 4.2 Utilization of the provision 145.0 122.6 Balance at end of year (349.9 ) (441.3 ) In 2018 , the addition for the year is recorded between cost of sales EUR 207.9 million and R&D costs EUR 10.3 million ( 2017 : cost of sales EUR 101.3 million and R&D costs EUR 18.8 million , 2016 : cost of sales EUR 69.2 million and R&D costs EUR 3.8 million ). In 2018 , the addition for the year mainly relates to inventory items which became obsolete due to technological developments and design changes. |
Other Assets
Other Assets | 12 Months Ended |
Dec. 31, 2018 | |
Other Assets [Abstract] | |
Other Assets | Other assets Other current assets consist of the following: As of December 31 2017 1 2018 (in millions) EUR EUR Advance payments to Carl Zeiss SMT GmbH 111.3 231.1 Prepaid expenses 198.4 299.6 Derivative financial instruments 50.5 42.2 VAT 67.3 116.0 Subordinated loan granted to lessor in respect of Veldhoven headquarters 2 5.4 — Other assets 77.6 83.7 Other current assets 510.5 772.6 1. As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. 2. For further details on the loan granted to the lessor in respect of the Veldhoven headquarters see Note 13 Property, plant and equipment . ASML owns an indirect interest of 24.9 percent in Carl Zeiss SMT GmbH, who is our single supplier of optical columns and, from time to time, ASML makes non-interest bearing advance payments to Carl Zeiss SMT GmbH supporting their work-in-process, thereby securing lens and optical column deliveries to us. Amounts included in these advance payments are settled through future lens or optical column deliveries. Prepaid expenses mainly include prepaid income taxes on intercompany profit not realized by the ASML group of EUR 100.9 million ( 2017 : EUR 99.7 million ) and the contract balance related to the joint development program with imec of EUR 107.5 million as of December 31, 2018 ( 2017 : EUR 15.6 million ). At the end of 2018 we started the new joint development program under which we deliver a system and services upfront and receive R&D services throughout the contract period up until 2024. Derivative financial instruments consist of the current part of the aggregate fair value of interest rate swaps and forward foreign exchange contracts, see Note 4 Financial risk management . Other non-current assets consist of the following: As of December 31 2017 1 2018 (in millions) EUR EUR Advance payments to Carl Zeiss SMT GmbH 331.5 533.4 Derivative financial instruments 65.2 59.7 Compensation plan assets 2 41.2 43.1 Prepaid expenses 140.4 4.6 Non-current accounts receivable 105.5 150.7 Other assets 24.4 14.6 Other non-current assets 708.2 806.1 1. As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. 2. For further details on compensation plan assets see Note 19 Employee benefits . The non-current advance payments to Carl Zeiss SMT GmbH include the non-current part of the advance payments as described above, plus support for tooling (as part of the High NA agreement signed November 3, 2016 ) for Carl Zeiss SMT GmbH of EUR 176.7 million as of December 31, 2018 ( 2017 : EUR 39.1 million ). Derivative financial instruments consist of the non-current part of the fair value of interest rate swaps, which decreased in value as a result of an increase in market interest rates, see Note 4 Financial risk management . Prepaid expenses mainly included prepaid income taxes on intercompany profit (other than inventory) not realized by the ASML group. As of December 31, 2017 the balance of prepaid income taxes on intercompany profit not realized by the ASML group amounts to EUR 133.9 million compared to EUR 0.0 million as of December 31, 2018 . This change is due to the adoption of ASU 2016-16 as of January 1, 2018. See Note 1 General information / summary of significant accounting policies . Non-current accounts receivable increased as we sold more systems for which we granted our customers extended payment terms. |
Equity Method Investments Equit
Equity Method Investments Equity Method Investments (Notes) | 12 Months Ended |
Dec. 31, 2018 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | Equity method investments We include investments which are accounted for using the equity method, under equity method investments in our Consolidated Balance Sheets. As of December 31, 2018, these include a 24.9 percent equity interest in Carl Zeiss SMT Holding GmbH & Co. KG, a limited partnership that owns Carl Zeiss SMT GmbH, our single supplier of optical columns. We have determined that Carl Zeiss SMT Holding GmbH & Co. KG is a variable interest entity because the entity was established without substantive voting rights since there is disparity between our voting rights and our economics, as well as substantially all of Carl Zeiss SMT Holding GmbH & Co. KG ’ s activities involve or are conducted on our behalf. However, we are not the primary beneficiary of the variable interest entity because we lack the power, through voting rights or similar rights, to direct the activities that most significantly impact Carl Zeiss SMT Holding GmbH & Co. KG ’ s economic performance. We account for our equity investment using the equity method of accounting because we do not control this partnership, however we can exert significant influence over its operating and financial policies. On June 29, 2017 , we completed the acquisition of the 24.9 percent interest in Carl Zeiss SMT Holding GmbH & Co. KG for EUR 1 billion in cash plus EUR 2.6 million transaction costs. Our investment in Carl Zeiss SMT Holding GmbH & Co. KG was EUR 979.3 million more than our 24.9 percent share of the carrying value of their underlying net assets as of the acquisition date. In order to determine the basis differences, we were required to determine the fair value of Carl Zeiss SMT Holding GmbH & Co. KG’s identifiable assets and liabilities at acquisition date in the same manner as if it would be a business combination. The excess costs of the investment over our proportional fair value of the identifiable assets and liabilities was identified as equity method goodwill. The basis differences as of the acquisition date were allocated as follows: (in millions) EUR Equity method goodwill 362.7 Other intangible assets 560.7 In-process research and development 50.7 Inventories 73.7 Pensions 19.9 Deferred tax liabilities (88.4 ) Basis differences 979.3 We amortize the basis difference related to the other intangible assets over the estimated remaining useful lives of these assets that gave rise to this difference. The weighted-average life of the finite-lived intangible assets acquired is 19.4 years and will be amortized using a straight-line method. In-process R&D is initially capitalized at fair value as an intangible asset with an indefinite life. When the R&D project is complete, it is reclassified as an amortizable purchased intangible asset and is amortized over its estimated useful life. If the project is abandoned, we will record the full basis difference charge for the value of the related intangible asset in our Consolidated Statements of Operations in the period of abandonment. Equity method goodwill is not amortized or tested for impairment; instead the investment in Carl Zeiss SMT Holding GmbH & Co. KG is tested for impairment whenever events or changes in circumstances indicate that the carrying value of the investment may not be recoverable. The basis difference related to inventories will be recorded as part of profit (loss) related to equity method investments. For the year ended December 31, 2018 , we recorded a profit from equity method investments of EUR 6.2 million in our Consolidated Statements of Operations. This profit includes the following components: • Profit of EUR 80.9 million related to our share of Carl Zeiss SMT Holding GmbH & Co. KG’s net income after accounting policy alignment. • Cost of EUR 37.3 million related to inventory step-up release. • Cost of EUR 26.7 million basis difference amortization related to intangible assets. • Cost due to intercompany profit elimination of EUR 10.7 million . We record the results using a one-quarter time lag as these results are not available in time to record them in our concurrent period. The profit was reflected as a n increase of the carrying amount of our equity method investments in our Consolidated Balance Sheets as of December 31, 2018 . During 2018 , we received dividends amounting to EUR 89.2 million from Carl Zeiss SMT Holding GmbH & Co. KG ( 2017 : EUR 19.7 million ). Carl Zeiss SMT Holding GmbH & Co. KG is a privately held company; therefore, quoted market prices for their stock are not available. The following summarizes the total assets and liabilities related to our variable interest in Carl Zeiss SMT Holding GmbH & Co. KG as reflected in our Consolidated Balance Sheets , as well as our maximum exposure to losses as of December 31, 2018 . Our maximum exposure to loss is limited to our equity method investment in Carl Zeiss SMT Holding GmbH & Co. KG and prepayments provided to the equity method investment. As of December 31 2018 2018 Maximum exposure to loss (in millions) Assets Liabilities EUV Agreements 1 393.7 — 393.7 DUV Agreements 1 31.5 — 31.5 High NA Agreement 1 342.9 — 342.9 Investment agreement for 24.9 percent equity 915.8 — 915.8 1. Amounts are included in advanced payments to Carl Zeiss SMT GmbH within other current assets and other non-current assets. See Note 9 Other assets . EUV and DUV Agreements Carl Zeiss SMT GmbH is our single supplier of optical columns and, from time to time, receives non-interest bearing advance payments from us that support their work in-process, thereby securing lens and optical module deliveries to us. Amounts owed under these advance payments are settled through future lens, DUV or EUV optical component deliveries. Our maximum exposure related to this agreement is limited to the assets not settled as of the balance sheet date. See also Note 9 Other assets . High NA Agreement On November 3, 2016 we agreed with Carl Zeiss SMT GmbH to support their R&D costs, capital expenditures and other supply chain investments, in respect of High NA, for an amount of EUR 760.0 million over 6 years , beginning in 2016. During 2018 , we agreed to fund an additional EUR 144.9 million , which when combined with the agreed additional funding in 2017 of EUR 325.0 million , brings the current estimate of the total funding under this agreement to EUR 1,229.9 million . In 2018 we paid an amount of EUR 275.1 million , of which EUR 74.8 million related to R&D costs and EUR 8.5 million related to supply chain support costs ( 2017 : EUR 147.5 million , of which EUR 55.8 million related to R&D cost s a nd EUR 2.6 million related to supply chain support costs) . As of December 31, 2018 our estimated remaining commitment to Carl Zeiss SMT GmbH amounts to EUR 795.3 million ( 2017 : EUR 925.5 million ). Our maximum exposure related to this agreement is limited to the amount reimbursable from Carl Zeiss SMT GmbH as of the balance sheet date. |
Equity Method Investments [Table Text Block] | as reflected in our Consolidated Balance Sheets , as well as our maximum exposure to losses as of December 31, 2018 . Our maximum exposure to loss is limited to our equity method investment in Carl Zeiss SMT Holding GmbH & Co. KG and prepayments provided to the equity method investment. As of December 31 2018 2018 Maximum exposure to loss (in millions) Assets Liabilities EUV Agreements 1 393.7 — 393.7 DUV Agreements 1 31.5 — 31.5 High NA Agreement 1 342.9 — 342.9 Investment agreement for 24.9 percent equity 915.8 — 915.8 1. Amounts are included in advanced payments to Carl Zeiss SMT GmbH within other current assets and other non-current assets. See Note 9 Other assets . The basis differences as of the acquisition date were allocated as follows: (in millions) EUR Equity method goodwill 362.7 Other intangible assets 560.7 In-process research and development 50.7 Inventories 73.7 Pensions 19.9 Deferred tax liabilities (88.4 ) Basis differences 979.3 |
Goodwill
Goodwill | 12 Months Ended |
Dec. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill | Goodwill Changes in goodwill are summarized as follows: Year ended December 31 2017 2018 (in millions) EUR EUR Cost Balance at beginning of year 4,873.9 4,541.1 Effect of changes in exchange rates (332.8 ) — Balance at end of year 4,541.1 4,541.1 For more information with respect to business combinations, see Note 2 Business combinations . Goodwill mainly results from the acquisitions of Cymer and HMI. Within ASML we have identified two reporting units, which are Reporting Unit ASML and Reporting Unit Cymer Light Sources. As of December 31, 2018 the goodwill allocated to Reporting Unit ASML amounts to EUR 4,078.8 million ( 2017 : EUR 4,078.8 million ) and for Reporting Unit Cymer Light Sources this amounts to EUR 462.3 million ( 2017 : EUR 462.3 million ). Based on our assessment during the annual goodwill impairment test, we believe it is more likely than not that the fair values of the reporting units exceed their carrying amounts, and therefore goodwill was no t impaired as of December 31, 2018 . |
Other Intangible Assets
Other Intangible Assets | 12 Months Ended |
Dec. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Other Intangible Assets | Other intangible assets As of December 31, 2018 other intangible assets consist of finite-lived other intangible assets. Brands, intellectual property, developed technology, customer relationships and other were mainly obtained from the acquisitions of HMI (2016) and Cymer (2013). Finite-lived other intangible assets consist of the following: (in millions) Brands Intellectual Developed Customer Other Total Cost Balance at January 1, 2017 40.2 61.4 1,264.7 253.2 17.4 1,636.9 Additions — 0.5 — — 14.9 15.4 Effect of changes in exchange rates (2.0 ) — (64.8 ) (24.6 ) (0.1 ) (91.5 ) Balance at December 31, 2017 38.2 61.9 1,199.9 228.6 32.2 1,560.8 Additions — 5.0 — — 37.0 42.0 Disposals — — — — — — Effect of changes in exchange rates 1.0 2.0 — — (3.0 ) — Balance at December 31, 2018 39.2 68.9 1,199.9 228.6 66.2 1,602.8 Accumulated amortization Balance at January 1, 2017 3.2 57.9 199.1 50.0 3.7 313.9 Amortization 2.0 2.1 84.1 13.4 3.9 105.5 Impairment charges — — — — 0.1 0.1 Effect of changes in exchange rates (0.4 ) — (19.0 ) (5.6 ) 0.3 (24.7 ) Balance at December 31, 2017 4.8 60.0 264.2 57.8 8.0 394.8 Amortization 1.9 1.2 82.1 12.7 5.8 103.7 Disposals — — — — — — Effect of changes in exchange rates 0.7 1.6 0.2 — (2.2 ) 0.3 Balance at December 31, 2018 7.4 62.8 346.5 70.5 11.6 498.8 Carrying amount December 31, 2017 33.4 1.9 935.7 170.8 24.2 1,166.0 December 31, 2018 31.8 6.1 853.4 158.1 54.6 1,104.0 During 2018 , we recorded amortization charges of EUR 103.7 million ( 2017 : EUR 105.5 million ; 2016 : EUR 63.5 million ) which were recorded in cost of sales for EUR 97.2 million ( 2017 : EUR 99.7 million ; 2016 : EUR 59.5 million ), in R&D costs for EUR 1.3 million ( 2017 : EUR 2.1 million and 2016 : EUR 2.5 million ) and in SG&A costs for EUR 5.2 million ( 2017 : EUR 3.7 million and 2016 : EUR 1.5 million ). As of December 31, 2018 , the other intangible assets not yet available for use amount to EUR 37.0 million ( 2017 : EUR 6.0 million ) and are allocated to Reporting Unit ASML. During 2018 we recorded no impairment charges ( 2017 : EUR 0.1 million ; 2016 : EUR 0.0 million ). As of December 31, 2018 , the estimated amortization expenses for other intangible assets, for the next 5 years and thereafter, are as follows: (in millions) EUR 2019 105.1 2020 104.5 2021 103.7 2022 100.7 2023 93.5 Thereafter 596.5 Amortization expenses 1,104.0 |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2018 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment | Property, plant and equipment Property, plant and equipment consist of the following: (in millions) Land and buildings EUR Machinery and equipment EUR Leasehold improvements EUR Furniture, fixtures and other equipment EUR Total EUR Cost Balance at January 1, 2017 1,556.6 1,133.1 254.2 359.0 3,302.9 Additions 115.2 173.3 6.9 24.9 320.3 Disposals (0.4 ) (105.3 ) (0.1 ) (3.5 ) (109.3 ) Effect of changes in exchange rates (29.6 ) (41.2 ) (4.4 ) (4.8 ) (80.0 ) Balance at December 31, 2017 1,641.8 1,159.9 256.6 375.6 3,433.9 Acquisitions through business combinations — — — — — Additions 119.6 256.2 21.5 44.6 441.9 Disposals (57.2 ) (114.7 ) (3.4 ) (4.9 ) (180.2 ) Effect of changes in exchange rates 5.6 3.7 0.5 0.9 10.7 Balance at December 31, 2018 1,709.8 1,305.1 275.2 416.2 3,706.3 Accumulated depreciation and impairment Balance at January 1, 2017 474.6 642.9 224.8 273.4 1,615.7 Depreciation 87.9 172.3 21.5 26.5 308.2 Impairment charges 0.2 8.7 — — 8.9 Disposals (0.2 ) (57.1 ) (0.1 ) (3.3 ) (60.7 ) Effect of changes in exchange rates (9.8 ) (24.4 ) (1.7 ) (3.1 ) (39.0 ) Balance at December 31, 2017 552.7 742.4 244.5 293.5 1,833.1 Depreciation 92.8 174.8 19.2 28.6 315.4 Impairment charges 1.0 14.4 — — 15.4 Disposals (2.5 ) (41.1 ) (3.0 ) (4.5 ) (51.1 ) Effect of changes in exchange rates 2.0 1.5 0.2 0.3 4.0 Balance at December 31, 2018 646.0 892.0 260.9 317.9 2,116.8 Carrying amount December 31, 2017 1,089.1 417.5 12.1 82.1 1,600.8 December 31, 2018 1,063.8 413.1 14.3 98.3 1,589.5 As of December 31, 2018 , the carrying amount includes assets under construction for land and buildings of EUR 79.0 million ( 2017 : EUR 94.6 million ), machinery and equipment of EUR 39.1 million ( 2017 : EUR 29.3 million ), leasehold improvements of EUR 7.8 million ( 2017 : EUR 2.3 million ) and furniture, fixtures and other equipment of EUR 9.3 million ( 2017 : EUR 7.0 million ). As of December 31, 2018 , the carrying amount of land amounts to EUR 94.6 million ( 2017 : EUR 94.0 million ). As of December 31, 2018 , the carrying amount of machinery and equipment includes an amount of EUR 17.1 million with respect to evaluation systems ( 2017 : EUR 8.1 million ). The majority of the additions in 2018 in property, plant and equipment relates to the expansion and upgrades of facilities, prototypes and training systems. The majority of additions in 2018 in machinery and equipment relates to upgrade and expansion of production tooling and investment in prototypes, evaluation and training systems which are similar to those that ASML sells in its ordinary course of business. These systems are capitalized under property, plant and equipment because these are held for own use and for evaluation purposes. These are recorded at cost and depreciated over their expected useful life taking into consideration their residual value. From the time that these assets are no longer held for own use but intended for sale in the ordinary course of business, they are reclassified from property, plant and equipment to inventory at their carrying value. An amount of EUR 59.8 million ( 2017 : EUR 13.4 million ) of the additions in property, plant and equipment relates to non-cash transfers from inventory. Since the transfers between inventory and property, plant and equipment are non-cash events, these are not reflected in the Consolidated Statements of Cash Flows. An amount of EUR 70.8 million ( 2017 : EUR 45.8 million ) of the disposal of property, plant and equipment relates to non-cash transfers to inventory . When sold, the proceeds and cost of these systems are recorded as net sales and cost of sales, respectively, identical to the treatment of other sales transactions. The cost of sales for these systems includes the inventory value and the additional costs of refurbishing (materials and labor). Since the transfers between inventory and property, plant and equipment are non-cash events, these are not reflected in the Consolidated Statements of Cash Flows. During 2018 , we recorded depreciation charges of EUR 315.4 million ( 2017 : EUR 308.2 million ; 2016: EUR 290.8 million ) of which we recorded EUR 191.6 million ( 2017 : EUR 195.7 million ; 2016 : EUR 187.9 million ) in cost of sales, EUR 105.9 million ( 2017 : EUR 101.7 million ; 2016 : EUR 76.8 million ) in R&D costs and EUR 17.9 million ( 2017 : EUR 10.8 million ; 2016 : EUR 26.1 million ) in SG&A costs. The machinery and equipment contains finance lease arrangements for an amount of EUR 7.5 million ( 2017 : EUR 10.2 million ) . The depreciation included in the Consolidated Statements of Operations amounts to EUR 2.7 million ( 2017 : EUR 2.8 million ; 2016 : EUR 2.8 million ) . The total cash outflow for finance leases was EUR 2.7 million ( 2017 : EUR 2.8 million ; 2016 : EUR 2.8 million ). The weighted average remaining lease term in 2018 was 52 months ( 2017 : 59 months ; 2016 : 68 months ) for finance leases. The weighted average discount rate in 2018 was 2.1 percent ( 2017 : 2.2 percent ; 2016 : 2.2 percent ). Variable interest entity The carrying amount of land and buildings includes an amount of EUR 25.1 million ( 2017 : EUR 25.2 million ) relating to our headquarters in Veldhoven, the Netherlands, which as of June 29, 2018 is owned by ASML, however previously was owned by Koppelenweg I B.V., a "variable interest entity". This was determined to be a variable interest entity since the equity investors did not have sufficient equity at risk for the legal entity to finance its activities without additional subordinate support. Since 2003 , we leased the Veldhoven headquarters for a period of 15 years from an entity ("lessor") that was incorporated by the VIE shareholders. The VIE shareholders each granted a loan of EUR 11.6 million and a fourth bank granted a loan of EUR 12.3 million ( EUR 47.1 million in total) to the parent of the lessor. ASML provided the parent of the lessor with a subordinated loan of EUR 5.4 million and had a purchase option that was exercisable either at the end of the lease in June 2018, at a price of EUR 24.5 million , or during the lease at a price equal to the book value of the assets. On June 28, 2018 , ASML exercised the purchase option and acquired the building, as well as subsequently redeemed the subordinated loan of EUR 5.4 million on July 4, 2018 . As a result, Koppelenweg I B.V. is no longer considered a VIE. For more information with respect to our variable interest entity, Carl Zeiss SMT Holding GmbH & Co. KG, see Note 10 Equity method investments . |
Right-of-use assets and lease l
Right-of-use assets and lease liabilities Right-of-use assets and lease liabilities | 12 Months Ended |
Dec. 31, 2018 | |
Right-of-use assets and lease liabilities [Abstract] | |
Lessor, Operating Leases [Text Block] | Right-of-use assets and lease liabilities Right-of-use assets consist of the following operating leases: As of December 31 2017 2018 (in millions) EUR EUR Properties 81.7 105.1 Cars 10.1 11.9 Warehouses 16.7 14.5 Other 5.2 6.1 Right-of-use assets 113.7 137.6 Lease liabilities related to operating leases are split between current and non-current: As of December 31 2017 2018 (in millions) EUR EUR Current 32.8 46.3 Non-current 81.0 93.7 Lease liabilities 113.8 140.0 The Consolidated Statements of Operations shows the following depreciation charges relating to these operating leases: As of December 31 2016 2017 2018 (in millions) EUR EUR EUR Properties 31.0 29.9 40.2 Cars 7.1 7.1 7.4 Warehouses 5.1 5.9 7.1 Other 7.1 11.6 12.4 Depreciation charge right-of-use assets 50.3 54.5 67.1 The total cash outflow for operating leases in 2018 was EUR 67.1 million ( 2017 : EUR 54.5 million ; 2016: EUR 50.3 million ). The weighted average remaining lease term in 2018 was 60 months ( 2017 : 57 months ; 2016 : 65 months ). The weighted average discount rate in 2018 was 2.1 percent ( 2017 : 2.2 percent ; 2016: 2.2 percent ). The contractual maturity of the lease liabilities has been disclosed in Note 18 Commitments, contingencies and guarantees . The disclosure of Finance Leases has been included in Note 13 Property, plant and equipment . |
Accrued and Other Liabilities
Accrued and Other Liabilities | 12 Months Ended |
Dec. 31, 2018 | |
Accrued Liabilities and Other Liabilities [Abstract] | |
Accrued and Other Liabilities | Accrued and other liabilities Accrued and other liabilities consist of the following: As of December 31 2017 1 2018 (in millions) EUR EUR Costs to be paid 208.7 154.8 Personnel related items 427.6 544.4 Derivative financial instruments 67.3 47.4 Lease liabilities 113.8 140.0 Standard warranty reserve 59.7 59.8 Provisions 21.0 160.3 Other 6.7 6.4 Accrued and other liabilities 904.8 1,113.1 Less: non-current portion of accrued and other liabilities 279.3 201.7 Current portion of accrued and other liabilities 625.5 911.4 1. As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. Costs to be paid as of December 31, 2018 include anticipated losses on constructive obligations to upgrade EUV sources in the field of EUR 14.6 million ( 2017 : EUR 84.5 million ). In addition, costs to be paid include accrued costs for unbilled services provided by suppliers including contracted labor, outsourced services and consultancy. Personnel related items mainly consist of accrued profit sharing, accrued management bonuses, accrued vacation days, accrued pension premiums, accrued wage tax and accrued vacation allowance. The increase in accrued personnel related items as of December 31, 2018 compared to December 31, 2017 is mainly the result of the increase in our number of FTEs. Derivative financial instruments consist of the aggregate fair value of interest rate swaps which includes accrued interest. The interest rate swaps decreased in value as a result of increased interest rates, see Note 4 Financial risk management . For more details on Lease liabilities refer to Note 14 Right-of-use assets and lease liabilities . Changes in standard warranty reserve for the years 2018 and 2017 are as follows: Year ended December 31 2017 2018 (in millions) EUR EUR Balance at beginning of year 36.5 59.7 Additions for the year 74.3 79.7 Utilization of the reserve (35.4 ) (59.8 ) Release of the reserve (14.3 ) (17.8 ) Effect of exchange rates (1.4 ) (2.0 ) Balance at end of year 59.7 59.8 The provisions mainly relate to the settlement with Nikon, see Note 20 Legal contingencies . |
Long-term Debt
Long-term Debt | 12 Months Ended |
Dec. 31, 2018 | |
Debt Disclosure [Abstract] | |
Long-term Debt | Long-term debt Long-term debt consists of the following: As of December 31 2017 2018 (in millions) EUR EUR EUR 500 million 0.625 percent senior notes due 2022, carrying amount 487.8 494.5 EUR 750 million 3.375 percent senior notes due 2023, carrying amount 820.6 816.0 EUR 1,000 million 1.375 percent senior notes due 2026, carrying amount 947.8 964.6 EUR 750 million 1.625 percent senior notes due 2027, carrying amount 732.1 742.4 Loan headquarter building 1 25.2 — Other 11.8 9.0 Long-term debt 3,025.3 3,026.5 Less: current portion of long-term debt 25.2 — Non-current portion of long-term debt 3,000.1 3,026.5 1. This loan related to our variable interest entity, see Note 13 Property, plant and equipment . Our obligations to make principal repayments under our Eurobonds and other borrowing arrangements excluding interest expense as of December 31, 2018 : (in millions) EUR 2019 1.8 2020 1.8 2021 1.8 2022 501.8 2023 750.3 Thereafter 1,750.0 Long-term debt 3,007.5 Less: current portion of long-term debt 1.8 Non-current portion of long-term debt 3,005.7 For the years 2019-2021 the obligations relate to lease payments. The years thereafter mainly relate to repayments under our Eurobonds. Eurobonds The following table summarizes the carrying amount of our outstanding Eurobonds, including the fair value of interest rate swaps used to hedge the change in the fair value of the Eurobonds: As of December 31 2017 2018 (in millions) EUR EUR Amortized cost amount 2,976.6 2,980.0 Fair value interest rate swaps 1 11.7 37.5 Carrying amount 2,988.3 3,017.5 1. The fair value of the interest rate swaps excludes accrued interest. In September 2013 , we completed an offering of our EUR 750 million 3.375 percent senior notes due 2023 , with interest payable annually on September 19. The notes are redeemable at the option of ASML, in whole or in part, at any time by paying a make whole premium, and unless previously redeemed, will be redeemed at 100 percent of their principal amount on September 19, 2023 . In July 2016 , we completed an offering of our EUR 500 million 0.625 percent senior notes due 2022 , with interest payable annually on July 7. The notes are redeemable at the option of ASML, in whole or in part, at any time by paying a make whole premium, and unless previously redeemed, will be redeemed at 100 percent of their principal amount on July 7, 2022 . In July 2016 , we completed an offering of our EUR 1,000 million 1.375 percent senior notes due 2026 , with interest payable annually on July 7. The notes are redeemable at the option of ASML, in whole or in part, at any time by paying a make whole premium, and unless previously redeemed, will be redeemed at 100 percent of their principal amount on July 7, 2026 . In November 2016 , we completed an offering of our EUR 750 million 1.625 percent senior notes due 2027 , with interest payable annually on May 28. The notes are redeemable at the option of ASML, in whole or in part, at any time by paying a make whole premium, and unless previously redeemed, will be redeemed at 100 percent of their principal amount on May 28, 2027 . The Eurobonds serve as hedged items in fair value hedge relationships in which we hedge the variability of changes in the fair value of our Eurobonds due to changes in market interest rates with interest rate swaps. The fair value changes of these interest rate swaps are recorded on the Consolidated Balance Sheets under derivative financial instruments (within other current assets, other non-current assets, current accrued and other liabilities and non-current accrued and other liabilities) and the carrying amount of the Eurobonds is adjusted for these fair value changes only. The following table summarizes the estimated fair value of our Eurobonds: As of December 31 2017 2018 (in millions) EUR EUR Principal amount 3,000.0 3,000.0 Carrying amount 2,988.3 3,017.5 Fair value 1 3,193.2 3,119.4 1. Source: Bloomberg Finance LP. The fair value of our Eurobonds is estimated based on quoted market prices as of December 31, 2018 . Due to changes in market interest rates and credit spreads since the issue of our Eurobonds which carry a fixed coupon interest rate, the fair value deviates from the principal amount. |
Lines of Credit
Lines of Credit | 12 Months Ended |
Dec. 31, 2018 | |
Debt Disclosure [Abstract] | |
Lines of Credit | Lines of credit Our available credit facilities amount to EUR 700.0 million as of December 31, 2018 and as of December 31, 2017 . No amounts were outstanding under these credit facilities at the end of 2018 and 2017 . The amounts available at December 31, 2018 and 2017 consisted of EUR 700.0 million committed revolving credit facility with a group of banks, which matures in 2022 . Outstanding amounts under this credit facility will bear interest at EURIBOR or LIBOR plus a margin that depends on our credit rating. |
Commitments, Contingencies and
Commitments, Contingencies and Guarantees | 12 Months Ended |
Dec. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments, Contingencies and Guarantees | Commitments, contingencies and guarantees We have various contractual obligations, some of which are required to be recorded as liabilities in our Financial Statements, including long- and short-term debt and lease commitments. Other contractual obligations, namely purchase obligations and guarantees, are generally not required to be recognized as liabilities on our Consolidated Balance Sheets but are required to be disclosed. Our contractual obligations as of December 31, 2018 can be summarized as follows: Payments due by period Total 1 year 2 year 3 year 4 year 5 year After (in millions) EUR EUR EUR EUR EUR EUR EUR Long-Term Debt Obligations, including interest expense 1 3,383.6 57.3 57.2 57.2 556.5 802.3 1,853.1 Lease Obligations 2 140.0 36.7 32.3 25.8 19.9 11.9 13.4 Purchase Obligations 4,020.5 3,594.4 324.6 37.6 33.9 8.8 21.2 Carl Zeiss SMT GmbH High NA Funding Commitment 795.3 351.8 282.0 87.0 46.0 28.5 — Total Contractual Obligations 3 8,339.4 4,040.2 696.1 207.6 656.3 851.5 1,887.7 1. See Note 16 Long-term debt for the amounts excluding interest expense. 2. See Note 14 Right-of-use assets and lease liabilities for details. 3. We have excluded unrecognized tax benefits for an amount of EUR 208.7 million as the amounts that will be settled in cash are not known and the timing of any payments is uncertain. Long-term debt obligations mainly relate to interest payments and principal amounts of our Eurobonds. See Note 16 Long-term debt . Lease obligations mainly relate to properties, cars and warehouses. See Note 14 Right-of-use assets and lease liabilities . We have purchase commitments towards suppliers in the ordinary course of business. ASML expects that it will honor these purchase obligations to fulfill future sales, in line with the timing of those future sales. The general terms and conditions of the agreements relating to the major part of our purchase commitments as of December 31, 2018 contain clauses that enable us to delay or cancel delivery of ordered goods and services up to the dates specified in the corresponding purchase contracts. These terms and conditions that we typically agree with our supply chain partners give us additional flexibility to adapt our purchase obligations to our requirements in light of the cyclicality and technological developments inherent in the industry in which we operate. We establish a provision for cancellation costs when the liability has been incurred and the amount of cancellation fees is reasonably estimable. On November 3, 2016 we agreed with Carl Zeiss SMT GmbH to support their R&D costs, capital expenditures and other supply chain investments, in respect of High NA, for an amount of EUR 760.0 million over 6 years , beginning in 2016. During 2018 , we agreed to fund an additional EUR 144.9 million , which when combined with the agreed additional funding in 2017 of EUR 325.0 million , brings the current estimate to EUR 1,229.9 million . In 2018 we paid an amount of EUR 275.1 million ( 2017 : EUR 147.5 million ) . As of December 31, 2018 our estimated remaining commitment to Carl Zeiss SMT GmbH amounts to EUR 795.3 million ( 2017 : EUR 925.5 million ). We have a non-committed guarantee facility of EUR 85.0 million under which guarantees in the ordinary course of business can be provided to third parties. |
Employee Benefits
Employee Benefits | 12 Months Ended |
Dec. 31, 2018 | |
Compensation Related Costs [Abstract] | |
Employee Benefits | Employee benefits We have a performance related bonus plan (STI) for some of our management. In 2018, we increased the number of employees who qualified for this bonus plan. Under this plan, the amounts depend on company and individual performance. Within ASML, the STI for these members of management (excluding BoM) can range between 0 percent and 112.5 percent of their annual base salary, depending on the job levels. The performance targets are set for a whole year. The STI over 2018 are accrued for in the Consolidated Balance Sheets as of December 31, 2018 and are expected to be paid in the first quarter of 2019 . Our STI expenses for the BoM and other management were as follows: Year ended December 31 2016 2017 2018 (in millions) EUR EUR EUR Board of Management 1 3.5 3.8 4.5 Other management 48.5 51.7 64.6 Bonus expenses 52.0 55.5 69.1 1. Includes all members that served on the Board of Management throughout the year . Profit-sharing plan We have a profit-sharing plan covering all European employees (in 2017 and 2016 this also included US non-sales employees) who are not members of the BoM or other management. Under the plan, eligible employees receive an annual profit-sharing, based on a percentage of net income relative to total net sales ranging from 0 percent to 20.0 percent of their annual salary. The profit sharing for the years 2018 , 2017 and 2016 was EUR 82.6 million , EUR 126.0 million and EUR 93.3 million , respectively. Our profit is also one of the criteria for the variable pay programs for employees in Asia, and as of 2018, this also includes US non–sales employees. Expenses in relation to these plans amount to EUR 86.5 million for 2018 , EUR 40.3 million for 2017 and EUR 33.8 million for 2016 . Share-based compensation In the past we have adopted various share and option plans for our employees. Starting January 1, 2014 the Employee Umbrella Share Plan has become effective, covering all grants made as of that date for our employees. The AGM approves each year the maximum number of shares that can be used by ASML to execute share-based incentives. Within this limit, the SB determines the maximum number of shares that is granted to the BoM in line with the Remuneration Policy and the BoM determines the total maximum of shares that can be granted in that year for eligible employees in line with existing policies. Our current share-based compensation plans do not provide for cash settlement of options and shares. The total gross amount of recognized compensation expenses associated with share-based payments (including share-based payments to the BoM) was EUR 46.3 million in 2018 , EUR 53.1 million in 2017 and EUR 47.7 million in 2016 . The tax benefit (excluding excess tax benefits) recognized related to the recognized share-based compensation costs in the US amounted to EUR 5.6 million in 2018 , EUR 8.7 million in 2017 and EUR 10.0 million in 2016 . Total compensation costs (including share-based payments to the BoM) to be recognized in future periods amount to EUR 94.2 million as of December 31, 2018 ( 2017 : EUR 78.5 million ; 2016 : EUR 83.2 million ). The weighted average period over which these costs are expected to be recognized is calculated at 1.7 years ( 2017 : 1.8 years ; 2016 : 1.9 years ). Employee Umbrella Share Plan The Employee Umbrella Share Plan, effective as of January 1, 2014 covers all employees. Within this plan, we distinguish between performance and incentive shares. Within the incentive category, prior to October 3, 2016 employees could choose, at inception, to convert the shares into options. As of October 3, 2016 this option no longer exists. All grants under the Employee Umbrella Share Plan typically have a three -year vesting period. Share plans Our current share plans typically include a three -year service period and some plans have vesting conditions which are based on performance. The fair value of shares is determined on the closing trading price of our shares listed at Euronext Amsterdam on the grant date. Details with respect to shares granted and vested during the year are set out in the following table: EUR-denominated USD-denominated Year ended December 31 2016 2017 2018 2016 2017 2018 Total fair value at vesting date of shares vested during the year (in millions) 25.5 49.9 46.4 31.3 53.3 61.6 Weighted average fair value of shares granted 87.21 125.16 161.63 96.00 130.77 187.98 A summary of the status of conditionally outstanding shares as of December 31, 2018 , and changes during the year ended December 31, 2018 , is presented below: EUR-denominated USD-denominated Number of shares Weighted average fair value at grant date (EUR) Number of shares Weighted average fair value at grant date (USD) Conditional shares outstanding at January 1, 2018 782,090 99.10 836,554 107.61 Granted 288,679 161.63 348,997 187.98 Vested (293,075 ) 108.10 (315,333 ) 113.96 Forfeited (56,867 ) 96.98 (209,036 ) 108.33 Conditional shares outstanding at December 31, 2018 720,827 120.73 661,182 146.78 Option plans Our option plans typically vest over a three -year service period with any unexercised stock options expiring 10 years after the grant date. Options granted have fixed exercise prices equal to the closing price of our shares listed at Euronext Amsterdam on grant date. The fair value of stock options was determined using a Black-Scholes option valuation model. As of 2017 we no longer grant options to our employees. The Black-Scholes option valuation of our last stock options granted in 2016 were based on the following assumptions: Year ended December 31 2016 Weighted average share price (in EUR) 88.3 Volatility (in percentage) 27.2 Expected life (in years) 5.7 Expected dividend yield (in EUR) 2.94 When establishing the expected life assumption, we considered the contractual terms of the stock options as well as historical employee exercise behavior. Details with respect to stock options are set out in the following table: EUR-denominated USD-denominated Year ended December 31 2016 2017 2018 2016 2017 2018 Weighted average fair value of stock options granted 20.34 — — 22.69 — — Weighted average share price at the exercise date of stock options 98.08 132.67 169.68 100.68 148.48 201.01 Aggregate intrinsic value of stock options exercised (in millions) 11.5 12.5 13.6 4.1 4.8 7.6 Weighted average remaining contractual term of currently exercisable options (in years) 3.69 3.80 4.76 4.71 4.49 5.20 Aggregate intrinsic value of exercisable stock options (in millions) 22.3 21.0 8.9 8.9 13.1 5.2 Aggregate intrinsic value of outstanding stock options (in millions) 22.7 21.2 9.0 8.9 13.2 5.2 The number and weighted average exercise prices of stock options as of December 31, 2018 , and changes during the year then ended are presented below: EUR-denominated USD-denominated Number of options Weighted average exercise price per ordinary share (EUR) Number of options Weighted average exercise price per ordinary share (USD) Outstanding, January 1, 2018 207,796 42.67 118,659 62.85 Granted — — — — Exercised (90,710 ) 19.86 (46,208 ) 36.65 Forfeited — — — — Expired (197 ) — (2,152 ) — Outstanding, December 31, 2018 116,889 60.41 70,299 81.43 Exercisable, December 31, 2018 116,692 60.49 70,299 81.43 Details with respect to the stock options outstanding are set out in the following table: EUR-denominated USD-denominated Range of Number of outstanding options at December 31, 2018 Weighted Range of Number of outstanding options at December 31, 2018 Weighted 15 - 20 9,347 0.79 15 - 20 — 0.00 20 - 25 11,227 1.80 20 - 25 — 0.00 25 - 40 9,343 2.74 25 - 40 10,212 1.90 40 - 50 11,231 3.79 40 - 50 950 2.62 50 - 60 8,853 4.95 50 - 60 3,760 3.66 60 - 70 17,079 4.93 60 - 70 729 4.06 70 - 80 16,517 6.40 70 - 80 1,422 4.30 80 - 90 33,292 6.78 80 - 90 15,155 5.78 90 - 100 — 0.00 90 - 100 38,071 6.13 Total 116,889 4.76 Total 70,299 5.20 Employee purchase plan Every quarter, we offer our worldwide payroll employees the opportunity to buy our shares against fair value using their net salary. The BoM is excluded from participation in this plan. The fair value for shares is based on the closing price of our shares listed at Euronext Amsterdam on grant date. The maximum net amount for which employees can participate in the plan amounts to 10.0 percent of their annual gross base salary. When employees retain the shares for a minimum of 12 months , we will pay out a 20.0 percent cash bonus on the initial participation amount. Deferred compensation plans In July 2002, we adopted a non-qualified deferred compensation plan for our US employees that allows a select group of management or highly compensated employees to defer a portion of their salary, bonus, and commissions. The plan allows us to credit additional amounts to the participants’ account balances. The participants divide their funds among the investments available in the plan. Participants elect to receive their funds in future periods after the earlier of their employment termination or their withdrawal election, at least 3 years after deferral. There were minor expenses relating to this plan in 2018 , 2017 and 2016 . Cymer has a similar non-qualified deferred compensation plan for a selected group of management level employees in the US in which the employee may elect to defer receipt of current compensation in order to provide retirement and other benefits on behalf of such employee backed by Cymer owned life insurance policies. As of December 31, 2018 , our liability under deferred compensation plans was EUR 46.8 million ( 2017 : EUR 43.6 million ) . Pension plans We maintain various pension plans covering substantially all of our employees. There are 10,027 eligible employees in the Netherlands. These employees participate in a multi-employer union plan (PME) determined in accordance with the collective bargaining agreements effective for the industry in which we operate. This collective bargaining agreement has no expiration date. This multi-employer union plan, accounted for as a defined-contribution plan, covers approximately 1,400 companies and approximately 154,000 contributing members. Our contribution to the multi-employer union plan was 9.6 percent of the total contribution to the plan as per the Annual Report for the year ended December 31, 2017 . The plan monitors its risks on a global basis, not by participating company or employee, and is subject to regulation by Dutch governmental authorities. By law (the Dutch Pension Act), a multi-employer union plan must be monitored against specific criteria, including the coverage ratio of the plan’s assets to its obligations. As of January 1, 2015 new pension legislation has been enacted. This legislation results in among others, an increase of legally required coverage levels. The coverage percentage is calculated by dividing the funds capital by the total sum of pension liabilities and is based on actual market interest rates. The coverage ratio as per December 31, 2018 of 101.3 percent ( December 31, 2017 : 100.1 percent ) is calculated giving consideration to the new pension legislation and is below the legally required level. However, we have no obligation to pay off any deficits the pension fund may incur, nor do we have any claim to any potential surpluses. Every company participating in the PME contributes a premium calculated as a percentage of its total pensionable salaries, with each company subject to the same contribution rate. Although the premium can fluctuate yearly based on the coverage ratio of the multi-employer union plan, for the 5 -year period 2015-2019 the contribution percentage has been fixed at 23.6 percent (2014 : 24.1 percent ) . The pension rights of each employee are based upon the employee’s average salary during employment. Our net periodic pension cost for this multi-employer union plan for any period is the amount of the required employer contribution for that period. We also participate in several other defined contribution pension plans (outside the Netherlands), with our expenses for these plans equaling the employer contributions made in the relevant period. Our pension and retirement expenses for all employees for the years ended December 31 , 2018 , 2017 and 2016 were: Year ended December 31 2016 2017 2018 (in millions) EUR EUR EUR Pension plan based on multi-employer union plan 54.9 62.4 74.0 Pension plans based on defined contribution 30.8 38.4 48.0 Pension and retirement expenses 85.7 100.8 122.0 |
Legal Contingencies
Legal Contingencies | 12 Months Ended |
Dec. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Legal Contingencies | Legal contingencies ASML is party to various legal proceedings generally incidental to our business. ASML also faces exposures from other actual or potential claims and legal proceedings. In addition, ASML’s customers may be subject to claims of infringement from third parties alleging that the ASML equipment used by those customers in the manufacture of semiconductor products, and / or the methods relating to use of the ASML equipment, infringes one or more patents issued to those third parties. If these claims were successful, ASML could be required to indemnify such customers for some or all of the losses incurred or damages assessed against them as a result of that infringement. We accrue for legal costs related to litigation and legal proceedings in our Consolidated Statements of Operations at the time when the related legal services are actually provided to us. In 2018 , EUR 131.0 million losses were recorded as a charge to our Consolidated Statements of Operations ( 2017 : EUR 0.0 million and 2016 : EUR 8.4 million ). In April 2017, Nikon sued ASML in both the Netherlands and Japan, alleging that the manufacture, sale, and / or use by ASML of certain equipment infringes asserted Nikon patents, and requesting both damages and injunctive relief prohibiting the sale or manufacture of such equipment. Nikon also sued in Germany, Carl Zeiss SMT GmbH, a supplier to ASML of components that ASML sells with or as part of certain lithography equipment. Nikon alleged that the manufacture, sale, and / or use of certain of these Carl Zeiss SMT GmbH components infringe asserted Nikon patents, and also sought damages and an injunction prohibiting Carl Zeiss SMT GmbH from manufacturing or exporting certain components. Certain of these proceedings resulted in court judgments during 2018 in the Netherlands, Germany and the United States, and in most instances, the judgments were favorable to ASML. In response to Nikon’s actions, ASML, in some cases jointly with Carl Zeiss SMT GmbH and / or its affiliates, filed several lawsuits against Nikon both in Japan and in a number of venues in the US and other jurisdictions, alleging patent infringement of certain patents owned by ASML and / or Carl Zeiss SMT GmbH and / or its affiliates. On January 23, 2019, ASML entered into a binding MOU with Nikon and Carl Zeiss SMT relating to a comprehensive settlement of all pending disputes between Nikon, ASML and Zeiss. The terms of the MOU include a payment to Nikon by ASML and Zeiss of a total of EUR 150.0 million , and the cross-license agreement to be executed among the parties as contemplated by the MOU includes royalty payments of 0.8% by ASML to Nikon, and by Nikon to ASML, over the sales of their respective immersion lithography systems for 10 years from date of the definitive agreements giving effect to the MOU. We accrued an amount of EUR 131.0 million representing ASML’s part of the EUR 150.0 million , see Note 15 Accrued and other liabilities . |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income taxes The components of the provision for income taxes are as follows: Year ended December 31 2016 1 2017 1 2018 (in millions) EUR EUR EUR Netherlands 1,277.0 2,076.6 2,602.0 Foreign 515.2 312.8 335.0 Income before taxes 1,792.2 2,389.4 2,937.0 Provision for income taxes current (66.5 ) (343.0 ) (383.1 ) Provision for income taxes deferred (85.4 ) 55.6 (40.7 ) Provision for income taxes Netherlands (151.9 ) (287.4 ) (423.8 ) Provision for income taxes current (91.4 ) (24.1 ) (203.4 ) Provision for income taxes deferred 9.0 5.4 275.6 Provision for income taxes Foreign (82.4 ) (18.7 ) 72.2 Total provision for income taxes current (158.0 ) (367.0 ) (586.5 ) Total provision for income taxes deferred (76.4 ) 61.0 234.9 Provision for income taxes (234.4 ) (306.0 ) (351.6 ) 1. As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. The Dutch statutory tax rate was 25.0 percent in 2018 , 2017 and 2016 . Tax amounts in other jurisdictions are calculated at the rates prevailing in the relevant jurisdictions. The reconciliation of the provision for income taxes is as follows: Year ended December 31 2016 1 2017 1 2018 (in millions) EUR % 2 EUR % 2 EUR % 2 Income before income taxes 1,792.2 100.0 % 2,389.4 100.0 % 2,937.0 100.0 % Income tax provision based on ASML’s domestic rate (448.1 ) 25.0 % (597.4 ) 25.0 % (734.3 ) 25.0 % Effects of tax rates in foreign jurisdictions (2.7 ) 0.2 % 21.0 (0.9 )% 15.4 (0.5 )% Adjustments in respect of tax exempt income 31.3 (1.7 )% 24.0 (1.0 )% 6.2 (0.2 )% Adjustments in respect of tax incentives 188.6 (10.5 )% 263.1 (11.0 )% 311.8 (10.6 )% Adjustments in respect of prior years’ current taxes (4.7 ) 0.3 % (38.3 ) 1.6 % (1.2 ) — % Adjustments in respect of prior years’ deferred taxes (6.6 ) 0.4 % 40.9 (1.7 )% 3.3 (0.1 )% Movements in the liability for unrecognized tax benefits 4.0 (0.2 )% (17.4 ) 0.7 % (57.2 ) 1.9 % Tax effects in respect of acquisition related items 8.8 (0.5 )% — — % 115.3 (3.9 )% Other credits and non tax deductible items (5.0 ) 0.3 % (1.9 ) 0.1 % (10.9 ) 0.4 % Provision for income taxes (234.4 ) 13.1 % (306.0 ) 12.8 % (351.6 ) 12.0 % 1. As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. 2. As a percentage of income before income taxes. Income tax provision based on ASML’s domestic rate The provision for income taxes based on ASML’s domestic rate is based on the Dutch statutory income tax rate. It reflects the provision for income taxes that would have been applicable assuming that all of our income is taxable against the Dutch statutory tax rate and there were no permanent differences between taxable base and financial results and no Dutch tax incentives were applied. Effects of tax rates in foreign jurisdictions A portion of our results is realized in countries other than the Netherlands where different tax rates are applicable. The lower effect in 2018 compared to 2017 is due to the relative decrease of income reported at the level of ASML Hong Kong which has a lower statutory tax rate than The Netherlands. Adjustments in respect of tax exempt income In certain jurisdictions part of the income generated is tax exempted. The lower effect in 2018 is caused by the decreasing level of income reported at the level of ASML Hong Kong. Adjustments in respect of tax incentives Adjustments in respect of tax incentives mainly relates to a reduced tax rate as a result of application of the Dutch Innovation Box. The Innovation box is a facility under Dutch corporate tax law pursuant to which qualified income associated with R&D is subject to an effective tax rate of 7 percent . Increase in the Innovation Box benefit for 2018 as compared to 2017 is caused by the increase in the overall profit before tax in 2018 as of which approximately 90% is effectively taxed in The Netherlands. The innovation box benefit is determined according to Dutch laws and published tax policy, the application of which has been confirmed in an agreement among ASML and the Dutch tax authorities, which agreement applies for the years 2017 through 2023 assuming facts and circumstances do not change. In 2016 the tax incentives also included the Dutch RDA (‘Research & Development’) deduction, which has been converted into a deduction for wage tax purposes as of January 1, 2017. Adjustments in respect of prior years’ current taxes The movements in the adjustments in respect of prior years ’ current taxes are considered to be limited. The adjustments mainly relate to differences occurred between the estimated income taxes and final corporate income tax returns. Adjustments in respect of prior years’ deferred taxes The movements in the adjustments in respect of prior years’ deferred taxes are considered to be limited. The adjustments mainly relate to differences between the initially estimated income taxes and final corporate income tax returns. In 2017 we agreed with the Dutch tax authorities to amortize certain IP over their useful life time rather than in the year of acquisition. This explains the largest part of the amount displayed for 2017 and is mirrored in the adjustment in respect of 2017 priors years ’ current taxes. Movements in the liability for unrecognized tax benefits In 2018, similar to prior years 2017 and 2016, the effective tax rate was impacted by movements in the liability for unrecognized tax benefits. Tax effects in respect of acquisition related items The 2018 tax effects of acquisition related items are driven by an internal restructuring as a result of which the deferred tax liabilities on intangible assets that were initially included in the business combination accounting for HMI have been released during 2018. Other credits and non-tax deductible items Other credits and non-tax deductible items reflect the impact on our statutory rates of permanent non-tax deductible items such as non-deductible interest expense, and non-deductible meals and entertainment expenses, as well as the impact of various tax credits on our provision for income taxes. US Tax Reform The 2017 and 2018 year-end tax positions calculated also reflect US Tax Reform, thereby taking into account the guidance on US Tax Reform. In regard to GILTI and BEAT, a tax policy election has been made to treat this as a period permanent item. Impact of US Tax Reform items are included in the 'other credits and non-tax deductible items' line item and are not significant from an overall group perspective. Income taxes recognized directly in shareholders’ equity Income taxes recognized directly in shareholders’ equity (including OCI) are as follows: Income tax recognized in shareholders’ equity 2016 2017 2018 (in millions) EUR EUR EUR Current tax OCI (financial instruments) 1.2 (2.3 ) (1.4 ) Tax benefit from share-based payments 1 (0.9 ) — — Deferred tax OCI (equity method investments) — — (0.9 ) Total income tax recognized in shareholders’ equity 0.3 (2.3 ) (2.3 ) 1. ASU No. 2016-09 is effective as per January 1, 2017. This requires all of the tax effects related to share based payments to be recorded through the Consolidated Statements of Operations. The comparative numbers have not been adjusted to reflect this change. Liability for unrecognized tax benefits and deferred taxes The liability for unrecognized tax benefits and total deferred tax position recorded on the Consolidated Balance Sheets is as follows: As of December 31 2017 1 2018 (in millions) EUR EUR Liability for unrecognized tax benefits (148.8 ) (208.7 ) Deferred tax position (160.6 ) 193.8 Deferred and other tax assets (liabilities) (309.4 ) (14.9 ) 1. As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. Liability for unrecognized tax benefits We have operations in multiple jurisdictions, where we are subject to the application of complex tax laws. Application of these complex tax laws may lead to uncertainties on tax positions. We aim to resolve these uncertainties in discussions with the tax authorities. We reserve for uncertain tax positions in line with the requirements of ASC 740 , which requires us to estimate the potential outcome of any uncertain tax position when disputed by the tax authorities. Our estimate for the potential outcome of any uncertain tax position is highly judgmental. We conclude that we have adequately provided for uncertain tax positions. However, settlement of these uncertain tax positions in a manner inconsistent with our expectations could have a material impact on our Consolidated Financial Statements . Consistent with the requirements of ASC 740 , as of December 31, 2018 , the liability for unrecognized tax benefits amounts to EUR 208.7 million ( 2017 : EUR 148.8 million ) which is classified as Deferred and other tax liabilities. If recognized, these tax benefits would affect our effective tax rate for approximately the equal amounts. Expected interest and penalties related to income tax liabilities have been accrued for and are included in the liability for unrecognized tax benefits and in the provision for income taxes. The balance of accrued interest and penalties recorded in the Consolidated Balance Sheets as of December 31, 2018 amounted to EUR 68.5 million ( 2017 : EUR 34.9 million ). Accrued interest and penalties recorded in the Consolidated Statements of Operations of 2018 amounted to a tax charge of EUR 32.6 million ( 2017 : EUR 4.2 million ; 2016 : EUR 5.8 million ). A reconciliation of the beginning and ending balance of the liability for unrecognized tax benefits is as follows: As of December 31 2017 2018 (in millions) EUR EUR Balance, January 1 (105.5 ) (113.9 ) Gross increases – tax positions in prior period (1.3 ) (27.4 ) Gross decreases – tax positions in prior period 3.4 10.3 Gross increases – tax positions in current period (19.8 ) (21.9 ) Acquisitions through business combinations — — Settlements 2.1 — Lapse of statute of limitations 2.4 13.9 Effect of changes in exchange rates 4.8 (1.4 ) Total liability for unrecognized tax benefits (113.9 ) (140.4 ) We conclude our allowances for tax contingencies to be appropriate. Based on the information currently available, we estimate that the liability for unrecognized tax benefits will decrease by EUR 38.0 million within the next 12 months , mainly as a result of expiration of statute of limitations. We file income tax returns with the Dutch tax authority, the U.S. federal government, various U.S. states, and various foreign jurisdictions throughout the world. The Dutch tax return is open to examination for the years 2013 to 2018. In addition our U.S. federal and state tax returns remain open to examination for the years 2014 through 2018. Additionally, in relation to the tax credits in the US, the years 2008 through 2013 are open to examination. We believe that adequate amounts of taxes and related interest and penalties have been provided for, and any adjustments as a result of examinations are not expected to have a material adverse effect on our business, results of operations, or financial condition. Deferred taxes The composition of total deferred tax assets and liabilities reconciled to the classification in the Consolidated Balance Sheets is as follows: Deferred taxes January 1, 2018 Effects of changes in accounting principles Consolidated Statements of Operations Effect of changes in exchange rates Income tax recognized in shareholders’ equity December 31, 2018 (in millions) EUR 1 EUR EUR EUR EUR Deferred tax assets: Capitalized R&D expenditures 3.2 — (1.6 ) 0.1 — 1.7 R&D credits 44.1 — 25.2 1.2 — 70.5 Inventories 46.5 — 4.6 1.8 — 52.9 Deferred revenue 21.0 — 128.7 0.6 — 150.3 Accrued and other liabilities 42.7 — (4.4 ) 2.2 — 40.5 Installation and warranty reserve 11.1 — 1.6 0.6 — 13.3 Tax effect carry-forward losses 5.7 — 2.8 — — 8.5 Property, plant and equipment 9.2 8.2 1.8 0.2 — 19.4 Intangible fixed assets — 51.7 (3.0 ) — — 48.7 Restructuring and impairment — — — — — — Alternative minimum tax credits 4.5 — (4.5 ) — — — Share-based payments 7.7 — (0.3 ) 0.3 — 7.7 Other temporary differences 20.1 2.6 (2.3 ) 0.4 0.9 21.7 Total deferred tax assets, gross 215.8 62.5 148.6 7.4 0.9 435.2 Valuation allowance 2 (49.5 ) — (28.5 ) (1.2 ) — (79.2 ) Total deferred tax assets, net 166.3 62.5 120.1 6.2 0.9 356.0 Deferred tax liabilities: Intangible fixed assets (265.1 ) — 149.7 (4.4 ) — (119.8 ) Property, plant and equipment (37.9 ) — 13.3 (1.1 ) — (25.7 ) Deferred revenue (13.2 ) — 13.1 — — (0.1 ) Borrowing costs (1.7 ) — 0.2 — — (1.5 ) Other temporary differences (9.0 ) — (4.5 ) (1.6 ) — (15.1 ) Total deferred tax liabilities (326.9 ) — 171.8 (7.1 ) — (162.2 ) Net deferred tax assets (liabilities) (160.6 ) 62.5 291.9 (0.9 ) 0.9 193.8 Classified as: Deferred tax assets – non-current 31.7 236.3 Deferred tax liabilities – non-current (192.3 ) (42.5 ) Net deferred tax assets (liabilities) (160.6 ) 193.8 1. As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. 2. The valuation allowance disclosed above relates to R&D credits and Tax effect carry-forward losses that may not be realized. Deferred taxes January 1, 2017 Consolidated Statements of Operations Effect of changes in exchange rates December 31, 2017 (in millions) EUR 1 EUR 1 EUR EUR 1 Deferred tax assets: Capitalized R&D expenditures 9.5 (5.1 ) (1.2 ) 3.2 R&D credits 35.8 12.6 (4.3 ) 44.1 Inventories 80.6 (24.0 ) (10.1 ) 46.5 Deferred revenue 47.4 (20.6 ) (5.8 ) 21.0 Accrued and other liabilities 59.3 (9.5 ) (7.1 ) 42.7 Installation and warranty reserve 15.7 (2.7 ) (1.9 ) 11.1 Tax effect carry-forward losses 8.5 (3.1 ) 0.3 5.7 Property, plant and equipment 11.0 (1.3 ) (0.5 ) 9.2 Intangible fixed assets — — — — Restructuring and impairment 0.7 (0.6 ) (0.1 ) — Alternative minimum tax credits 5.1 — (0.6 ) 4.5 Share-based payments 13.9 (4.5 ) (1.7 ) 7.7 Other temporary differences 26.0 (8.9 ) 3.0 20.1 Total deferred tax assets, gross 313.5 (67.7 ) (30.0 ) 215.8 Valuation allowance 2 (42.4 ) (11.9 ) 4.8 (49.5 ) Total deferred tax assets, net 271.1 (79.6 ) (25.2 ) 166.3 Deferred tax liabilities: Intangible fixed assets (432.4 ) 140.9 26.4 (265.1 ) Property, plant and equipment (44.7 ) 1.4 5.4 (37.9 ) Deferred revenue (17.9 ) 4.7 — (13.2 ) Borrowing costs (1.8 ) 0.1 — (1.7 ) Other temporary differences (17.7 ) 11.0 (2.3 ) (9.0 ) Total deferred tax liabilities (514.5 ) 158.1 29.5 (326.9 ) Net deferred tax assets (liabilities) (243.4 ) 78.5 4.3 (160.6 ) Classified as: Deferred tax assets – current — — Deferred tax assets – non-current 34.9 31.7 Deferred tax liabilities – non-current (278.3 ) (192.3 ) Net deferred tax assets (liabilities) (243.4 ) (160.6 ) 1. As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. 2. The valuation allowance disclosed above relates to R&D credits and Tax effect carry-forward losses that may not be realized. Tax effect carry-forward losses and R&D credits The deferred tax assets from carry-forward losses and R&D credits recognized as per December 31, 2018 are almost fully reserved for. R&D credits for the amount of EUR 51.1 million have no expiration date. The remaining R&D credits of EUR 19.4 million have an expiration date between 2019 and 2033 . Carry-forward losses for the amount of EUR 3.2 million do not have an expiration date. The remaining carry-forward losses ( EUR 5.3 million ) have an expiration date between 2023 and 2028 . |
Segment Disclosure
Segment Disclosure | 12 Months Ended |
Dec. 31, 2018 | |
Segment Reporting [Abstract] | |
Segment Disclosure | Segment disclosure ASML has one reportable segment, for the development, production, marketing, sales, upgrading and servicing of advanced semiconductor equipment systems, consisting of lithography, metrology and inspection systems. Its operating results are regularly reviewed by the CODM (Chief Operating Decision Maker) in order to make decisions about resource allocation and assess performance. Management reporting includes net system sales figures of new and used systems, sales per technology and sales per end-use. For the sales per technology and end-use refer to Note 23 Revenue from contracts with customers . Net system sales for new and used systems were as follows: Year ended December 31 2016 1,2 2017 1 2018 (in millions) EUR EUR EUR New systems 4,644.0 6,332.9 8,115.6 Used systems 74.9 91.5 143.5 Net system sales 4,718.9 6,424.4 8,259.1 1. As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. 2. As of January 1, 2017, ASML presents net sales with respect to metrology and inspection systems as part of net system sales instead of net service and field option sales. The 2016 numbers have been adjusted to reflect this change in accounting policy. The increase in net system sales of EUR 1,834.7 million , or 28.6 percent , to EUR 8,259.1 million in 2018 from EUR 6,424.4 million in 2017 ( 2016 : EUR 4,718.9 million ) is mainly due to the increase in the number of systems sold as well as the relative increase in system sales towards more high-end systems. For geographical reporting, total net sales are attributed to the geographic location in which the customers’ facilities are located. Long-lived assets are attributed to the geographic location in which these assets are located . Total net sales and long-lived assets (consisting of property, plant and equipment) by geographic region were as follows: Year ended December 31 Total net sales Long-lived assets (in millions) EUR EUR 2018 Japan 567.6 8.2 Korea 3,725.1 24.6 Singapore 222.5 1.1 Taiwan 1,989.5 96.5 China 1,842.8 16.2 Rest of Asia 1.9 0.4 Netherlands 1.2 1,113.8 EMEA 631.7 5.1 United States 1,961.7 323.6 Total 10,944.0 1,589.5 2017 1 Japan 404.3 3.4 Korea 3,031.4 23.2 Singapore 163.7 0.8 Taiwan 2,096.7 88.1 China 919.5 4.1 Rest of Asia 3.5 3.0 Netherlands 4.0 1,186.0 EMEA 921.5 5.0 United States 1,418.1 287.2 Total 8,962.7 1,600.8 2016 1 Japan 415.1 4.3 Korea 1,594.3 17.3 Singapore 245.6 0.8 Taiwan 2,140.3 125.4 China 758.2 3.2 Rest of Asia 26.7 2.8 Netherlands 1.1 1,201.4 EMEA 606.3 4.1 United States 1,087.5 327.9 Total 6,875.1 1,687.2 1. As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. In 2018 , total net sales to the largest customer accounted for EUR 2,476.8 million , or 22.6 percent , of total net sales ( 2017 : EUR 2,454.4 million , or 27.4 percent , of total net sales ; 2016 : EUR 1,633.9 million , or 23.8 percent , of total net sales ). Our three largest customers (based on total net sales) accounted for EUR 1,491.3 million , or 58.8 percent , of accounts receivable and finance receivables at December 31, 2018 , compared with EUR 1,356.7 million , or 65.7 percent , at December 31, 2017 . Substantially all of our sales were export sales in 2018 , 2017 and 2016 . |
Revenue from Contract with Cust
Revenue from Contract with Customer Revenue from Contract with Customer | 12 Months Ended |
Dec. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contract with Customer [Text Block] | Revenue from contracts with customers Disaggregation of revenue Our revenue from contracts with customers, on a disaggregated basis, aligns with our reportable segment disclosures with the addition of disaggregation of net system sales per technology and per end-use. Net system sales per technology were as follows: Year ended December 31 Net system sales Net system sales 2018 EUV 18 1,880.1 ArFi 86 4,806.9 ArF dry 16 274.3 KrF 78 860.1 I-line 26 98.6 Metrology & Inspection 114 339.1 Total 338 8,259.1 2017 1 EUV 11 1,084.2 ArFi 76 4,028.7 ArF dry 13 186.4 KrF 71 743.5 I-line 26 99.7 Metrology & Inspection 95 281.9 Total 292 6,424.4 2016 1,2 EUV 4 331.2 ArFi 68 3,539.6 ArF dry 7 113.4 KrF 55 552.5 I-line 20 71.2 Metrology & Inspection 55 111.0 Total 209 4,718.9 1. As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. 2. As of January 1, 2017, ASML presents net sales with respect to metrology and inspection systems as part of net system sales instead of net service and field option sales. The 2016 numbers have been adjusted to reflect this change in accounting policy. Net system sales per end-use were as follows: Year ended December 31 Net system sales Net system sales 2018 Logic 125 3,713.7 Memory 213 4,545.4 Total 338 8,259.1 2017 1 Logic 145 3,456.7 Memory 147 2,967.7 Total 292 6,424.4 2016 1,2 Logic 141 3,212.4 Memory 68 1,506.5 Total 209 4,718.9 1. As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. 2. As of January 1, 2017, ASML presents net sales with respect to metrology and inspection systems as part of net system sales instead of net service and field option sales. The 2016 numbers have been adjusted to reflect this change in accounting policy. Contract assets and liabilities The following table provides information about the current and non-current positions of receivables, contracts assets, and contract liabilities from contracts with our customers. Year ended December 31 2017 1 2018 (in millions) EUR EUR Accounts receivable 1,850.4 1,655.6 Finance receivables 218.5 886.2 Contract Assets 270.4 95.9 Contract liabilities (2,152.0 ) (2,953.2 ) Total 187.3 (315.5 ) 1. As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. The contract assets primarily relate to our rights to a consideration for goods or services delivered but not invoiced at the reporting date. The contract assets are transferred to the receivables when invoiced. The contract liabilities primarily relate to down payments received for systems to be delivered, as well as deferred revenue from system shipments, based on the allocation of the consideration to the related performance obligations in the contract. This deferred consideration mainly consists of extended and enhanced warranties, installation and free goods or services provided as part of a volume purchase agreement. The majority of our customer contracts contain both asset and liability positions. At the end of each reporting period, these positions are netted on a contract basis and presented as either an asset or a liability in the Consolidated Balance Sheets. Consequently, a contract balance can change between periods from a net contract asset balance to a net contract liability balance in the balance sheet. Significant changes in the contract assets and the contract liabilities balances during the period are as follows. Year ended December 31 2017 1 2018 (in millions) EUR EUR Contract Assets Contract Liabilities Contract Assets Contract Liabilities Balance at beginning of the year 148.3 1,833.8 270.4 2,152.0 Transferred to receivables from contract assets from the beginning of the period (91.6 ) — (456.2 ) — Revenues recognized during the year, to be invoiced 456.7 — 192.3 — Revenue recognition that was included in the contract liability balance at the beginning of the period — (1,197.9 ) — (1,306.3 ) Changes as a result of cumulative catch-up adjustments arising form changes in estimates — — — (64.4 ) Remaining performance obligations for which considerations have been received — 1,759.1 — 2,082.5 Transfer between contract assets and liabilities (243.0 ) (243.0 ) 89.4 89.4 Total 270.4 2,152.0 95.9 2,953.2 1. As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. The increase in the net contract liability to EUR 2,857.3 million as of December 31, 2018 compared to EUR 1,881.6 million as of December 31, 2017 was mainly caused by an increase in contract liabilities related to down payments on our next-generation EUV platform, High NA, and by a decrease in contract assets related to timing of invoicing. The cumulative catch-up adjustments recognized as revenues in 2018 mainly relate to changed estimates on discounts and credits related to systems sold and shipped in the previous year. Remaining performance obligations The vast majority of our revenues results from volume purchase agreements with our customers, which typically span 12 months to 5 years. We have a stable customer base. The volume purchase agreements mainly consist of the sale of systems and related goods and services, such as options, installations, training and extended and enhanced warranties. When revenues will be recognized is mainly dependent on when systems are shipped or installed or when service projects are performed and completed. All of which is estimated based on contract terms and communication with our customers, as well as the customer facility readiness to take delivery of our goods or services. From time to time, the volume purchase agreements may be subject to modifications, impacting the amount and timing of revenue recognition for the anticipated revenues. At the end of the reporting period the commitments from system sales orders amount to EUR 6.2 billion and service and field option sales orders amount to EUR 0.8 billion , for which written authorizations have been accepted but no contract liability has been recorded. These amounts exclude our next-generation EUV platform, High NA, for which we currently have written authorization for four system sales orders and eight options to buy systems. The initial selling price for these High NA systems is around EUR 270 million . The vast majority of the anticipated revenues is expected to be recognized during the coming 18 months , with the exception of High NA which is targeted to start shipping end of 2021 . |
Selected Operating Expenses and
Selected Operating Expenses and Additional Information | 12 Months Ended |
Dec. 31, 2018 | |
Compensation Related Costs [Abstract] | |
Selected Operating Expenses and Additional Information | Selected operating expenses and additional information Personnel expenses for all payroll employees were: Year ended December 31 2016 2017 2018 (in millions) EUR EUR EUR Wages and salaries 1,279.6 1,492.8 1,777.9 Social security expenses 103.8 119.6 146.3 Pension and retirement expenses 85.7 100.8 122.0 Share-based payments 47.7 53.1 46.3 Personnel expenses 1,516.8 1,766.3 2,092.5 The average number of payroll employees in FTEs during 2018 , 2017 and 2016 was 18,204 , 15,136 and 12,852 , respectively. The average number of payroll employees in FTEs in our operations in the Netherlands during 2018 , 2017 and 2016 was 8,597 , 7,211 and 6,567 , respectively. Both increase s in 2018 compared to 2017 and in 2017 compared to 2016 in payroll employees (in FTEs) were in line with our business growth. The total number of payroll and temporary employees as of December 31 in FTEs per sector was: As of December 31 2016 2017 2018 (in FTE) Customer Support 4,210 5,051 5,674 SG&A 1,561 1,701 2,260 Manufacturing & Logistics 4,443 5,112 6,046 R&D 6,433 7,352 9,267 Total 16,647 19,216 23,247 Less: Temporary employees 2,656 2,997 3,203 Payroll employees 13,991 16,219 20,044 |
Research and Development Costs
Research and Development Costs | 12 Months Ended |
Dec. 31, 2018 | |
Research and Development [Abstract] | |
Research and Development Costs | Research and development costs R&D costs (net of credits and excluding contributions under the NRE Funding Agreements from Participating Customers in the CCIP) increased by EUR 316.2 million , or 25.1 percent , to EUR 1,575.9 million in 2018 from EUR 1,259.7 million in 2017 . R&D costs for both 2018 and 2017 were primarily focused on programs supporting our Holistic Lithography solutions in EUV, DUV immersion, and Applications. In 2018, R&D activities mainly related to: • EUV - Further improving availability and productivity focused on the final stages of industrialization related to our NXE:3400B system, as well as introduction of the NXE:3400C. In addition, we are extending our roadmap by including High NA to support our customers with 3 nm logic and beyond. • DUV immersion - Mainly dedicated to the development of our next generation Immersion system NXT:2000i, of which we shipped our first systems in 2018. In addition we are completing industrialization of new modules and further improving our roadmaps on alignment/overlay and productivity in 2018. • Applications - HMI expansion, including multi-beam innovation, and further development of YieldStar and process window control solutions. R&D costs (net of credits and excluding contributions under the NRE Funding Agreements from Participating Customers in the CCIP) increased by EUR 153.9 million , or 13.9 percent , to EUR 1,259.7 million in 2017 , from EUR 1,105.8 million in 2016 . R&D costs for both 2017 and 2016 were primarily focused on programs supporting our Holistic Lithography in EUV, DUV immersion, and Applications. In 2017, R&D activities mainly related to: • EUV - Further improving availability and productivity focused on the final stages of development related to our NXE:3400B system, of which we shipped our first systems in 2017. In addition, we are extending our roadmap by including High NA to support our customers with 3 nm logic. • DUV immersion - Mainly dedicated to the development of our next generation immersion system NXT:2000i. • Applications - HMI expansion and further development of YieldStar and process window control solutions. |
Interest and Other, Net
Interest and Other, Net | 12 Months Ended |
Dec. 31, 2018 | |
Banking and Thrift, Interest [Abstract] | |
Interest and Other, Net | Interest and other, net Interest and other income of EUR 13.5 million ( 2017 : EUR 7.2 million and 2016 : EUR 71.7 million ) relates to interest income on deposits, short-term investments, money market, other investment funds, bank accounts and on finance receivables. In addition, in 2016 we recognized EUR 55.2 million on foreign currency revaluations of transactions and balances relating to the HMI acquisition in interest and other, net. Interest and other costs of EUR 41.8 million ( 2017 : EUR 57.5 million and 2016 : EUR 38.0 million ) mainly consist of net interest expense on our Eurobonds and related interest rate swaps, hedges, interest on finance lease obligations and amortized financing costs. This decrease is mainly due to lower hedging costs resulting from the change in functional currency of the US business. |
Vulnerability Due to Certain Co
Vulnerability Due to Certain Concentrations | 12 Months Ended |
Dec. 31, 2018 | |
Risks and Uncertainties [Abstract] | |
Vulnerability Due to Certain Concentrations | Vulnerability due to certain concentrations We rely on outside vendors for components and subassemblies used in our systems including the design thereof, each of which is obtained from a single supplier or a limited number of suppliers. Our reliance on a limited group of suppliers involves several risks, including a potential inability to obtain an adequate supply of required components, reduced control over pricing and the risk of untimely delivery of these components and subassemblies. Carl Zeiss SMT GmbH, in which ASML owns an indirect interest of 24.9 percent , is our single supplier, and we are their single customer, of Optical Columns for lithography systems. Carl Zeiss SMT GmbH is capable of developing and producing these items only in limited numbers and only through the use of manufacturing and testing facilities in Oberkochen and Wetzlar, Germany. In 2018 , 28.3 percent of our aggregate cost of system sales was purchased from Carl Zeiss SMT GmbH ( 2017 : 26.6 percent ; 2016 : 27.6 percent ). Our relationship with Carl Zeiss AG is structured as a strategic alliance pursuant to several agreements executed in 1997 and subsequent years. These agreements define a framework in all areas of our business relationship. The partnership between ASML and Carl Zeiss AG is run under the principle of ‘two companies, one business’ and is focused on continuous improvement of operational excellence. Pursuant to these agreements, ASML and Carl Zeiss AG have agreed to continue their strategic alliance until either party provides at least three years notice of its intent to terminate. A constraint in the production could result in limited availability of Optical Columns. During 2018 , our production was not limited by the deliveries from Carl Zeiss SMT GmbH. For further information on the relationship between ASML and Carl Zeiss SMT GmbH reference is made to Note 10 Equity method investments and Note 31 Related party transactions . |
Shareholders' Equity
Shareholders' Equity | 12 Months Ended |
Dec. 31, 2018 | |
Equity [Abstract] | |
Shareholders' Equity | Shareholders’ equity Share capital ASML’s authorized share capital amounts to EUR 126.0 million and is divided into: • 700,000,000 Cumulative Preference Shares with a nominal value of EUR 0.09 each. • 699,999,000 Ordinary Shares with a nominal value of EUR 0.09 each. • 9,000 Ordinary Shares B with a nominal value of EUR 0.01 each. As of December 31, 2018 , 431,465,767 ordinary shares with a nominal value of EUR 0.09 each were issued and fully paid up; this includes 10,368,038 treasury shares. No ordinary shares B and no cumulative preference shares have been issued. Our BoM has the power to issue ordinary shares and cumulative preference shares insofar as the BoM has been authorized to do so by the General Meeting of Shareholders. The BoM requires approval of the SB for such an issue. The authorization by the General Meeting of Shareholders can only be granted for a certain period not exceeding 5 years and may be extended for no longer than 5 years on each occasion. If the General Meeting of Shareholders has not authorized the BoM to issue shares, the General Meeting of Shareholders will be authorized to issue shares on the BoM’s proposal, provided that the SB has approved such proposal. Shares issued as a result of the acquisition of HMI ASML and HMI completed the merger pursuant to which ASML acquired HMI on November 22, 2016 . As part of the transaction, Hermes-Epitek Corporation and certain HMI officers have also agreed to (re)invest in ASML part of the proceeds from selling their HMI shares in the transaction, underscoring their belief in the strategic rationale for the transaction and their commitment to the combined businesses going forward. Accordingly, ASML issued a total number of 5,866,001 ordinary shares for an aggregate amount of EUR 580.6 million . Ordinary shares An ordinary share entitles the holder thereof to cast nine votes at the General Meeting of Shareholders. Each ordinary share consists of 900 fractional shares. Fractional shares entitle the holder thereof to a fractional dividend, but do not entitle the holder thereof to voting rights. Only those persons who hold shares directly in the share register in the Netherlands, held by us at our address at 5504 DR Veldhoven, de Run 6501, the Netherlands, or in the New York share register, held by JP Morgan Chase Bank, N.A., P.O. Box 64506, St. Paul, MN 55164-0506, United States, can hold fractional shares. Those who hold ordinary shares through the deposit system under the Dutch Securities Bank Giro Transactions Act (‘Wet giraal effectenverkeer’; the Giro Act) maintained by the Dutch central securities depository Euroclear Nederland or through the Depository Trust Company cannot hold fractional shares. At our 2018 AGM, the BoM was authorized from April 25, 2018 through October 25, 2019, subject to the approval of the SB, to issue shares and / or rights thereto representing up to a maximum of 5.0 percent of our issued share capital at April 25, 2018, plus an additional 5.0 percent of our issued share capital at April 25, 2018 that may be issued in connection with mergers, acquisitions and / or (strategic) alliances. Holders of ASML’s ordinary shares have a preemptive right, in proportion to the aggregate nominal amount of the ordinary shares held by them. This preemptive right may be restricted or excluded. Holders of ordinary shares do not have preemptive right with respect to any ordinary shares issued for consideration other than cash or ordinary shares issued to employees. If authorized for this purpose by the General Meeting of Shareholders, the BoM has the power, subject to approval of the SB, to restrict or exclude the preemptive rights of holders of ordinary shares. At our 2018 AGM, our shareholders authorized the BoM through October 25, 2019, subject to approval of the SB, to restrict or exclude preemptive rights of holders of ordinary shares up to a maximum of 10.0 percent of our issued share capital. We may repurchase our issued ordinary shares at any time, subject to compliance with the requirements of Dutch law and our Articles of Association. Any such repurchases are and remain subject to the approval of the SB and the authorization by the General Meeting of Shareholders, which authorization may not be for more than 18 months. At the 2018 AGM, the BoM has been authorized, subject to SB approval, to repurchase through October 25, 2019, up to a maximum of two times 10.0 percent of our issued share capital at April 25, 2018, at a price between the nominal value of the ordinary shares purchased and 110.0 percent of the market price of these securities on Euronext Amsterdam or NASDAQ. Ordinary shares B Our Articles of Association provide for 9,000 ordinary shares B with a nominal value of EUR 0.01 . Each ordinary share B entitles the holder thereof to cast one vote at the General Meeting of Shareholders. Holders of fractional shares had the opportunity, until July 31, 2013, to convert fractional shares into ordinary shares B to obtain voting rights with respect to those fractional shares. No ordinary shares B have been issued. Cumulative preference shares In 1998, we granted the Preference Share Option to the Foundation. This option was amended and extended in 2003 and 2007. A third amendment to the option agreement between the Foundation and ASML became effective on January 1, 2009, to clarify the procedure for the repurchase and cancellation of the preference shares when issued. The nominal value of the cumulative preference shares amounts to EUR 0.09 and the number of cumulative preference shares included in the authorized share capital is 700,000,000 . A cumulative preference share entitles the holder thereof to cast nine votes in the General Meeting of Shareholders. The Foundation may exercise the Preference Share Option in situations where, in the opinion of the Board of Directors of the Foundation, ASML’s interests, ASML’s business or the interests of ASML’s stakeholders are at stake. This may be the case if a public bid for ASML’s shares has been announced or has been made, or the justified expectation exists that such a bid will be made without any agreement having been reached in relation to such a bid with ASML. The same may apply if one shareholder, or more shareholders acting in concert, hold a substantial percentage of ASML’s issued ordinary shares without making an offer or if, in the opinion of the Board of Directors of the Foundation, the (attempted) exercise of the voting rights by one shareholder or more shareholders, acting in concert, is materially in conflict with ASML’s interests, ASML’s business or ASML’s stakeholders. The objectives of the Foundation are to look after the interests of ASML and of the enterprises maintained by ASML and of the companies which are affiliated in a group with ASML, in such a way that the interests of ASML, of those enterprises and of all parties concerned are safeguarded in the best possible way, and influences in conflict with these interests which might affect the independence or the identity of ASML and those companies are deterred to the best of the Foundation’s ability, and everything related to the above or possibly conducive thereto. The Foundation seeks to realize its objects by the acquiring and holding of cumulative preference shares in the capital of ASML and by exercising the rights attached to these shares, particularly the voting rights attached to these shares. The Preference Share Option gives the Foundation the right to acquire a number of cumulative preference shares as the Foundation will require, provided that the aggregate nominal value of such number of cumulative preference shares shall not exceed the aggregate nominal value of the ordinary shares that have been issued at the time of exercise of the Preference Share Option for a subscription price equal to their nominal value. Only one-fourth of the subscription price would be payable at the time of initial issuance of the cumulative preference shares, with the other three-fourths of the nominal value only being payable when we call up this amount. Exercise of the Preference Share Option could effectively dilute the voting power of the outstanding ordinary shares by one-half. Cancellation and repayment of the issued cumulative preference shares by ASML requires the authorization by the General Meeting of Shareholders of a proposal to do so by the BoM approved by the SB. If the Preference Share Option is exercised and as a result cumulative preference shares are issued, ASML, at the request of the Foundation, will initiate the repurchase or cancellation of all cumulative preference shares held by the Foundation. In that case ASML is obliged to effect the repurchase and cancellation respectively as soon as possible. A cancellation will have as a result a repayment of the amount paid and exemption from the obligation to pay up on the cumulative preference shares. A repurchase of the cumulative preference shares can only take place when such shares are fully paid up. If the Foundation does not request ASML to repurchase or cancel all cumulative preference shares held by the Foundation within 20 months after issuance of these shares, we will be obliged to convene a General Meeting of Shareholders in order to decide on a repurchase or cancellation of these shares. The Foundation is independent of ASML. The Board of Directors of the Foundation comprises four independent members from the Netherlands’ business and academic communities. The current members of the Foundation’s Board of Directors are: Mr. A.P.M. van der Poel, Mr. S. Perrick, Mr. J.M. de Jong and Mr. A.H. Lundqvist. Dividend policy We aim to pay an annual dividend that is growing over time. Annually, the BoM, upon prior approval from the SB, submits a proposal to the AGM with respect to the amount of dividend to be declared with respect to the prior year. The dividend proposal and amount of share buyback programs in any given year will be subject to the availability of distributable profits or retained earnings and may be affected by, among other factors, the BoM’s views on our potential future liquidity requirements, including for investments in production capacity, the funding of our R&D programs and for acquisition opportunities that may arise from time to time; and by future changes in applicable income tax and corporate laws. Accordingly, the BoM may decide to propose not to pay a dividend or pay a lower dividend with respect to any particular year in the future. For 2018 , a proposal to declare a dividend of EUR 2.10 per ordinary share of EUR 0.09 nominal value will be submitted to the 2019 AGM. |
Purchases of Equity Securities
Purchases of Equity Securities by the Issuer and Affiliated Purchasers | 12 Months Ended |
Dec. 31, 2018 | |
Equity [Abstract] | |
Purchases of Equity Securities by the Issuer and Affiliated Purchasers | Purchases of equity securities by the issuer and affiliated purchasers In addition to dividend payments, we intend to return cash to our shareholders on a regular basis through share buybacks or capital repayment, subject to our actual and anticipated level of liquidity requirements and other relevant factors. On January 17, 2018, we announced a new share buyback program, to be executed within the 2018-2019 time frame. As part of this program, we intend to repurchase approximately EUR 2.5 billion of our own shares. We intend to cancel these shares after repurchase, with the exception of up to EUR 2.4 million shares, which will be used to cover employee share plans. In 2018 , we repurchased 2,400,000 shares to cover employee share plans and 4,644,389 shares for cancellation for a total consideration of EUR 1,146.2 million . No shares were canceled in 2018 . In January 2019, 5,806,366 ordinary shares were canceled, of which 3,468,737 shares were repurchased under the 2016-2017 program. The remainder of the shares bought back under the 2018-2019 program are intended to be canceled in 2019 . The following table provides a summary of shares repurchased by ASML in 2018 : Period Total number of shares purchased Average price paid per Share Total number of shares purchased as part of publicly announced plans or programs Maximum value of shares that may yet be purchased under the program January 18 - 31, 2018 219,914 165.06 219,914 2,463.7 February 1 - 28, 2018 313,137 153.93 533,051 2,415.5 March 1 - 31, 2018 507,072 168.62 1,040,123 2,330.0 April 1 - 30, 2018 398,517 161.10 1,438,640 2,265.8 May 1 - 31, 2018 623,367 167.80 2,062,007 2,161.2 June 1 - 30, 2018 568,287 176.14 2,630,294 2,061.1 July 1 - 31, 2018 623,903 176.31 3,254,197 1,951.1 August 1 - 31, 2018 764,618 178.39 4,018,815 1,814.7 September 1 - 30, 2018 718,565 161.57 4,737,380 1,698.6 October 1 - 31, 2018 835,384 153.46 5,572,764 1,570.4 November 1 - 30, 2018 861,512 149.39 6,434,276 1,441.6 December 1 - 21, 2018 610,113 143.91 7,044,389 1,353.9 Total 7,044,389 162.70 |
Customer Co-Investment Program
Customer Co-Investment Program | 12 Months Ended |
Dec. 31, 2018 | |
Related Party Transactions [Abstract] | |
Customer Co-Investment Program | Customer Co-Investment Program On July 9, 2012, we announced our CCIP to accelerate our development of EUV technology beyond the current generation and our development of future 450mm silicon wafer technology. The Participating Customers collectively agreed to fund EUR 1.38 billion of our R&D projects from 2013 through 2017. This program created risk sharing with some of our largest customers while the results of our development programs will be available to every semiconductor manufacturer with no restrictions. The funding under this program is now complete, with the total amount funded by the end of 2017. In addition to the funding commitments, Participating Customers invested an aggregated EUR 3.85 billion for 96,566,077 of our ordinary shares, the proceeds of which were returned to our shareholders (other than Participating Customers). |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2018 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Related party transactions On June 29, 2017 , we completed the acquisition of a 24.9 percent interest in Carl Zeiss SMT Holding GmbH & Co. KG, which owns 100 percent of the shares in Carl Zeiss SMT GmbH , to strengthen the long-standing and successful partnership and to facilitate the development of the future generation of EUV lithography systems. Based on the 24.9 percent investment and our relationship with Carl Zeiss SMT GmbH being our single supplier of optical columns essential to our chip-making systems, Carl Zeiss SMT Holding GmbH & Co. KG and its subsidiaries are considered related parties of ASML as of June 29, 2017 . On November 3, 2016 we agreed with Carl Zeiss SMT GmbH to support their R&D costs, capital expenditures and other supply chain investments, in respect of High NA, for an amount of EUR 760.0 million over 6 years , beginning in 2016. During 2018 , we agreed to fund an additional EUR 144.9 million , which when combined with the agreed additional funding in 2017 of EUR 325.0 million ), brings the current estimate to EUR 1,229.9 million . In 2018 we paid an amount of EUR 275.1 million ( 2017 : EUR 147.5 million ) . As of December 31, 2018 our estimated remaining commitment to Carl Zeiss SMT GmbH amounts to EUR 795.3 million ( 2017 : EUR 925.5 million ). From time to time, ASML makes non-interest bearing advance payments to Carl Zeiss SMT GmbH supporting their work-in-process, thereby securing lens and optical column deliveries to us. Amounts included in these advance payments are settled through future lens or optical column deliveries. In 2018, ASML and Carl Zeiss SMT GmbH entered into an agreement for ASML to support the development and integration of certain tooling to be used in future production of High-NA optical columns, for which Carl Zeiss SMT GmbH will reimburse all costs to ASML. Receivable amounts from Carl Zeiss SMT GmbH are presented within Other Assets. The total purchases and outstanding balances to and from Carl Zeiss SMT Holding GmbH & Co. KG and its subsidiaries were as follows: Year ended December 31 2016 2017 2018 (in millions) EUR EUR EUR Total purchases from Carl Zeiss SMT Holding GmbH & Co. KG 967.7 1,141.6 1,401.0 As of December 31 2017 2018 (in millions) EUR EUR Advance payments and CAPEX funding to Carl Zeiss SMT Holding GmbH & Co. KG 497.5 768.1 Net trade payables to Carl Zeiss SMT Holding GmbH & Co. KG 143.2 58.1 For more details in relation to our 24.9 percent interest in Carl Zeiss SMT Holding GmbH & Co. KG see Note 10 Equity method investments . On January 23, 2019, ASML entered into a binding MOU with Nikon and Carl Zeiss SMT relating to a comprehensive settlement of all pending disputes between Nikon, ASML and Zeiss. See Note 20 Legal contingencies . There have been no transactions during our most recent fiscal year , and there are currently no transactions, between ASML or any of its subsidiaries, and any other significant shareholder, and any director or officer or any relative or spouse thereof other than ordinary course (compensation) arrangements. During our most recent fiscal year , there has been no, and at present there is no, outstanding indebtedness to ASML owed by or owing to any director or officer of ASML or any associate thereof , other than the virtual financing arrangement with respect to shares described under Note 19 Employee benefits . Furthermore, ASML has not granted any personal loans, guarantees, or the like to members of the BoM or SB. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2018 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent events Subsequent events were evaluated up to February 5, 2019 , which is the date the Financial Statements included in this Integrated Report were approved. On January 23, 2019 we signed a Memorandum of Understanding with Nikon to settle our legal dispute over alleged patent infringements that were initiated by Nikon, see Note 20 Legal contingencies . There are no other events to report. |
General Information _ Summary_2
General Information / Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Basis of Preparation | Basis of preparation The accompanying Consolidated Financial Statements are stated in millions of euros unless indicated otherwise. The accompanying Consolidated Financial Statements have been prepared in conformity with US GAAP . We have reclassified certain prior period amounts to align with the current period presentation. |
Use of Estimates | Use of estimates The preparation of our Consolidated Financial Statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities on the balance sheet dates , and the reported amounts of net sales and costs during the reported periods. Actual results could differ from those estimates. We evaluate our estimates continuously and we base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances. Actual results may differ from these estimates if the assumptions prove incorrect. To the extent there are material differences between actual results and these estimates, our future results could be materially and adversely affected. We believe that the accounting policies described below require us to make significant judgments and estimates in the preparation of our Consolidated Financial Statements. Our most critical accounting estimates include: • Revenue recognition • Business combinations • Inventories • Income taxes • Contingencies and litigation • Lease accounting • Evaluation of long-lived assets for impairment |
Principles of Consolidation | Principles of consolidation The Consolidated Financial Statements include the Financial Statements of ASML Holding N.V. and all of its subsidiaries and the variable interest entity of which ASML was the primary beneficiary until June 29, 2018. All intercompany profits, balances and transactions have been eliminated in the consolidation. Subsidiaries Subsidiaries are all entities over which ASML has the control to govern financial and operating policies generally accompanying a shareholding of more than 50 percent of the outstanding voting rights. As from the date that these criteria are met, the financial data of the relevant subsidiaries are included in the consolidation. Business combinations Acquisitions of subsidiaries are included on the basis of the acquisition method. The cost of acquisition is measured based on the consideration transferred at fair value, the fair value of identifiable assets distributed and the fair value of liabilities incurred or assumed at the acquisition date (i.e., the date which we obtain control). The excess of the costs of an acquired subsidiary over the net of the amounts assigned to identifiable assets acquired and liabilities incurred or assumed, is capitalized as goodwill. Acquisition-related costs are expensed when incurred in the period they arise or the service is received. Variable interest entities We assess whether we have a controlling financial interest in any variable interest entity. We consolidate a variable interest entity when we have a variable interest that provides us with a controlling financial interest. We are deemed to have a controlling financial interest in a variable interest entity if both of the following characteristics are met: a) the power to direct the activities of a variable interest entity that most significantly impact the variable interest entity‘s economic performance and b) the obligation to absorb losses of the variable interest entity that could potentially be significant to the variable interest entity or the right to receive benefits from the variable interest entity that could potentially be significant to the variable interest entity. |
Foreign Currency Translation | Foreign currency translation The financial information for subsidiaries outside the euro-zone is measured using a mix of local currencies or the euro as the functional currency. The Financial Statements of those foreign subsidiaries are translated into euros in the preparation of ASML’s Consolidated Financial Statements. Assets and liabilities are translated into euros at the exchange rate on the respective balance sheet dates. Income and costs are translated into euros based on the average exchange rate for the corresponding period. The resulting translation adjustments are recorded directly in shareholders’ equity. |
Derivative Financial Instruments | Derivative financial instruments We use derivative financial instruments for the management of foreign currency risks and interest rate risks. We measure all derivative financial instruments based on fair values derived from market prices of the instruments. We adopt hedge accounting for hedges that are highly effective in offsetting the identified hedged risks taking into account required effectiveness criteria. Derivatives are initially recognized at fair value on the date a derivative contract is entered into and subsequently remeasured. The method of recognizing the resulting gain or loss depends on whether the derivative is designated as a hedging instrument, and if so, the nature of the item being hedged. We designate derivatives as one of the following: • A hedge of an exposure relating to changes in the fair value of a recognized asset or liability, that is attributable to a particular risk (fair value hedge). • A hedge of an exposure relating to the variability in the cash flows of a recognized asset or liability, or of a forecasted transaction, that is attributable to a particular risk (cash flow hedge). • A hedge of the foreign currency exposure relating to a net investment in a foreign operation (net investment hedge). We document at the inception of the transaction the relationship between hedging instruments and hedged items, as well as our risk management objectives and strategy for undertaking various hedging transactions. We also document, both at hedge inception and on an ongoing basis, whether derivatives that are used in hedging transactions are highly effective in offsetting changes in fair values or cash flows of hedged items. The cash flows resulting from the derivative financial instruments are classified in the Consolidated Statements of Cash Flows according to the nature of the hedged item. Fair value hedge Changes in the fair value of a derivative financial instrument, that is designated and qualified as a fair value hedge, along with the gain or loss on the hedged asset or liability that is attributable to the hedged risk, are recorded in the Consolidated Statements of Operations. Hedge accounting is discontinued when we revoke the hedging relationship, the hedging instrument expires or is sold, terminated or exercised, or no longer qualifies for hedge accounting. The adjustment to the carrying amount of the hedged item arising from the hedged risk is amortized to the Consolidated Statements of Operations from that date. Interest rate swaps that are being used to hedge the fair value of fixed loan coupons payable are designated as fair value hedges. The change in fair value is intended to offset the change in the fair value of the underlying fixed loan coupons, which is recorded accordingly. The gain or loss relating to the ineffective portion of interest rate swaps hedging fixed loan coupons payable is recognized in the Consolidated Statements of Operations as interest and other, net. Cash flow hedge Changes in the fair value of a derivative that is designated and qualified as a cash flow hedge are recorded in OCI , net of taxes, until the underlying hedged transaction is recognized in the Consolidated Statements of Operations. In the event that the underlying hedge transaction will not occur within the specified time period, the gain or loss on the related cash flow hedge is released from OCI and included in the Consolidated Statements of Operations, unless extenuating circumstances exist that are related to the nature of the forecasted transaction and are outside our control or influence and which cause the forecasted transaction to be probable of occurring on a date that is beyond the specified time period. Foreign currency hedging instruments that are being used to hedge cash flows related to forecasted sales or purchase transactions in non-functional currencies are designated as cash flow hedges. The gain or loss relating to the ineffective portion of the foreign currency hedging instruments is recognized in the Consolidated Statements of Operations in net sales or cost of sales. Interest rate swaps that are being used to hedge changes in the variability of future interest cash flows to certain of our operating lease obligations are designated as cash flow hedges. The changes in fair value of the derivatives are intended to offset changes in future interest cash flows of such operating lease obligations. The gain or loss relating to the ineffective portion of interest rate swaps hedging the variability of future interest cash flows is recognized in the Consolidated Statements of Operations as interest and other, net. Net investment hedge Foreign currency hedging instruments that are being used to hedge changes in the value of a net investment are designated as net investment hedges . Changes in the fair value of a derivative that is designated and qualifies as a net investment hedge are recorded in other comprehensive income . The gain or loss relating to the ineffective portion is recognized in the Consolidated Statements of Operations as interest and other, net. Gains and losses accumulated in OCI are recognized in the Consolidated Statements of Operations when the foreign operation is (partially) disposed or sold. |
Cash and Cash Equivalents | Cash and cash equivalents Cash and cash equivalents consist primarily of highly liquid investments, such as bank deposits, money market funds and interest-bearing bank accounts with insignificant interest rate risk and remaining maturities of 3 months or less at the date of acquisition. |
Short-term Investments | Short-term investments Investments with remaining maturities longer than 3 months and less than 1 year at the date of acquisition are presented as short-term investments. Gains and losses other than impairments, interest income and foreign exchange results, are recognized in OCI until the short-term investments are derecognized. Upon derecognition, the cumulative gain or loss recognized in OCI, is recognized in the Consolidated Statements of Operations. |
Trade and Other Accounts Receivable, Policy [Policy Text Block] | Accounts receivable Accounts receivable are measured at fair value and are subsequently measured at amortized cost using the effective interest rate method, less allowance for doubtful debts. |
Finance, Loan and Lease Receivables, Held-for-sale, Policy [Policy Text Block] | Finance receivable Finance receivables consist of receivables in relation to sales-type leases. We perform ongoing credit evaluations on our customers’ financial condition. We periodically review whether an allowance for credit losses is needed by considering factors such as historical payment experience, credit quality, the aging of the finance receivables balances, and current economic conditions that may affect a customer’s ability to pay. |
Inventories | Inventories Inventories are stated at the lower of cost (applying the first-in, first-out method) or net realizable value. Cost includes net prices paid for materials purchased, charges for freight and customs duties, production labor cost and factory overhead . Allowances are made for defect, obsolete or excess inventory . Allowances for inventory are determined based on the expected demand which is derived from sales forecasts, technical obsolescence as well as the expected net realizable value of the inventory. |
Equity Method Investments [Policy Text Block] | Equity method investments Equity investments, through which we are able to exercise significant influence but do not control, are accounted for using the equity method and presented on our Consolidated Balance Sheets within equity method investments . The difference between the cost of our investment and our proportionate share of the carrying value of the equity method investments’ underlying net assets as of the acquisition date is the basis difference. The basis difference is allocated to the identifiable assets and liabilities based on their fair value as of the acquisition date (i.e., the date which we obtain significant influence), with the excess costs of the investment over our proportional fair value of the identifiable assets and liabilities being equity method goodwill. Under the equity method, after initial recognition at cost, our equity method investments are adjusted for our proportionate share of the profit or loss and other comprehensive income of the equity method investments , recognized on a one-quarter time lag and presented within profit (loss) related to equity method investments . Our proportionate share of the profit or loss of the equity method investments is adjusted for any differences in accounting principles and policies, basis difference adjustments and intra-entity profits. Receipt of dividends reduces the equity method investments , which is presented as an operating cash flow based on the nature of the distributions. |
Intangible Assets | Goodwill Goodwill represents the excess of the costs of an acquisition over the fair value of the amounts assigned to assets acquired and liabilities incurred or assumed of the acquired subsidiary at the date of acquisition. Goodwill on acquisition of subsidiaries is allocated to reporting units for the purpose of impairment testing. The allocation is made to those reporting units that are expected to benefit from the business combination in which the goodwill arose. Goodwill is stated at cost less accumulated impairment losses. Other intangible assets Other intangible assets include brands, intellectual property, developed technology, customer relationships, and other. Other intangible assets are stated at cost, less accumulated amortization and accumulated impairment losses. Amortization is calculated using the straight-line method based on the estimated useful lives of the assets. The following table presents the estimated useful lives of our finite-lived other intangible assets: Category Estimated useful life Brands 20 years Intellectual property 3 - 10 years Developed technology 6 - 15 years Customer relationships 8 - 18 years Other 2 - 6 years |
Property, Plant and Equipment | Property, plant and equipment Property, plant and equipment are stated at cost, less accumulated depreciation and accumulated impairment losses. Costs of assets manufactured by ASML include direct manufacturing costs, production overhead and interest costs incurred for qualifying assets during the construction period. Depreciation is calculated using the straight-line method based on the estimated useful lives of the related assets. In the case of leasehold improvements, the estimated useful lives of the related assets do not exceed the remaining term of the corresponding leases. The following table presents the estimated useful lives of our property, plant and equipment: Category Estimated useful life Buildings and constructions 5 - 45 years Machinery and equipment 1 - 5 years Leasehold improvements 1 - 10 years Furniture, fixtures and other equipment 3 - 5 years Land is not depreciated. |
Evaluation of Long-lived Assets for Impairment | Evaluation of long-lived assets for impairment Long-lived assets include equity method investments, goodwill, other intangible assets and property, plant and equipment. Our equity method investments are tested for impairment whenever events or changes in circumstances indicate that the carrying amount of the equity method investments may not be recoverable. We remeasure our equity method investments at fair value when they are deemed to be other-than-temporarily impaired. Goodwill is tested for impairment annually or whenever events or changes in circumstances indicate that the carrying amount of the goodwill may not be recoverable. These events or circumstances could include a significant change in the business climate, legal factors, operating performance indicators, competition, or sale or disposition of a significant portion of a reporting unit. To determine whether it is necessary to perform the quantitative goodwill impairment test, we first assess qualitative factors. If we determine that it is more likely than not (a likelihood of more than 50 percent ) that the fair value of a reporting unit is less than its carrying amount (including goodwill), the quantitative goodwill impairment test is performed. The recoverability of goodwill is tested by comparing the carrying amount of the reporting unit including goodwill with the fair value of the reporting unit. If the carrying amount of the reporting unit is higher than the fair value of the reporting unit, an impairment loss shall be recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. Finite-lived other intangible assets and property, plant and equipment are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of those assets may not be recoverable. An impairment loss is recognized only if the carrying amount of finite-lived other intangible assets or property, plant and equipment is not recoverable and exceeds its fair value. The carrying amount is not recoverable if it exceeds the sum of the (un)discounted forecasted cash flows resulting from the use and eventual disposition of such asset. An impairment loss is measured as the amount by which the carrying amount exceeds its fair value. In determining the fair value of long-lived assets, we make estimates about future cash flows. These estimates are based on our strategic plan updated with the latest available projections of the semiconductor industry and our income and cost expectations, which are consistent with the plans and estimates that we use to manage our business. We also make estimates and assumptions concerning our WACC. It is possible that actual results may differ from our plans, estimates and assumptions. Future adverse changes in market conditions may also require impairment of certain long-lived assets, which could have a material adverse effect on our financial condition and results of operations. |
High-NA agreement, policy [Table Text Block] | High NA agreement with Carl Zeiss SMT GmbH On November 3, 2016 we agreed with Carl Zeiss SMT GmbH to support their R&D costs, capital expenditures and other supply chain investments, in respect of High NA, beginning in 2016. R&D and supply chain support costs are capitalized for 24.9 percent of this funding because it directly benefits us through our investment in Carl Zeiss SMT Holding GmbH & Co. KG. The amount capitalized is presented within equity method investments . The remainder of this support relating to supply chain support costs is charged to the cost of sales as incurred, the part related to R&D costs is charged to the operating expenses as incurred. The support provided related to capital expenditures consists of tooling and facilities. Funding provided for facilities is accounted for in property, plant & equipment as we are considered the accounting owner during the construction period. The support provided for tooling is determined to be a capital lease. Support provided for tooling prior to the asset being put into use is recorded in other assets and transferred into property, plant & equipment when put into use. |
Revenue Recognition | Revenue From Contracts With Customers We measure revenue based on the consideration specified in the contracts with our customers, adjusted for any significant financing components, and excluding any tax amounts collected on behalf of third parties. We recognize revenue when we satisfy a performance obligation by transferring control over a good or service to our customer. Taxes assessed by a governmental authority that are imposed on a specific revenue-producing transaction, that are collected by us from our customers, are excluded from revenue. We bill our customers for, and recognize as net sales, any charges for shipping and handling costs. The related costs are recognized as cost of sales. For certain contracts and constructive obligations resulting from these arrangements, for which a loss is evident, we recognize the anticipated loss to the extent the costs of completing these contracts and constructive obligations exceed the amount of the contract price. When we satisfy these obligations, we utilize the related liability. We generate revenue from the sale of integrated patterning solutions for the semiconductor industry, which mainly consist of systems, system related options and upgrades, other holistic lithography solutions and customer services. The main portion of our net sales is derived from contractual arrangements with our customers that have multiple deliverables (performance obligations), which mainly include the sale of our systems, system related options, installation, training and extended and enhanced (optic) warranty. The main portion of our system sales results from volume purchase agreements, in which we offer customers discounts in the normal course of sales negotiations. As part of these volume purchases agreements, we may also offer free goods or services and credits that can be used towards future purchases. Occasionally, systems, with the related extended and enhanced (optic) warranties, installation and training services, are ordered individually. Our system sales agreements do not include a general right of return. For bundled packages, we account for individual goods and services, including the free or discounted goods or services, separately if they are distinct - i.e. if a product or service is separately identifiable from other items in the bundled package and if a customer can benefit from it on its own or with other resources that are readily available to the customer. The consideration paid for our performance obligations is typically fixed, unless specifically noted in the nature of the performance obligations. At times the total consideration of the contract can be dependent on the final volume of systems ordered by the customer. Payment is typically due 15-45 days after shipment or completion of the service unless described otherwise. The total consideration of the contract is allocated between all distinct performance obligations in the contract based on their stand-alone selling prices. The stand-alone selling prices are determined based on other stand-alone sales that are directly observable, when possible. However, for the majority of our performance obligations these are not available. If no directly observable evidence is available, the stand-alone selling price is estimated using the adjusted market assessment approach. These estimates are considered significant judgments. Variable consideration is estimated at contract inception for each performance obligation, and subsequently updated each quarter, using either the expected value method or most likely amount method, whichever is determined to best predict the consideration to be collected from the customer. Variable consideration is only included in the transaction price if it is considered probable that a significant revenue reversal will not occur. In certain scenarios when entering into a volume purchase agreement, free goods or services are provided directly or through a voucher that can be used on future contracts. Consideration from the contract will be allocated to these performance obligations and revenue recognized when control transfers based on the nature of the goods or service provided. Options to buy goods or services in addition to the purchase commitment are assessed to determine if they provide a material right to the customer that they would not have received if they had not entered into this contract. Each option to buy additional goods or services provided at a discount from the stand-alone selling price is considered a material right. The discount offered from the stand-alone selling price will be allocated from the consideration of the other goods and services in the contract if it is determined the customer will exercise the option to buy, adjusted for the likelihood. Revenue will be recognized in line with the nature of the related goods or services. If it is subsequently determined the customer will not exercise the option to buy, or the option expires, revenue will be recognized. Occasionally we may enter into a bill-and-hold transaction where we invoice a customer for a system that is ready for delivery but not shipped to the customer until a later date, based on customer’s request. Transfer of control is determined to have occurred only when there is a substantive reason for the arrangement, the system is separately identified as belonging to the customer, the good has been accepted by the customer and is ready for delivery, and we do not have the ability to direct the use of the system. Goods or services Nature, timing of satisfying the performance obligations, and significant payment terms New systems (established technologies) New systems sales include i-line, KrF, ArF, ArFi and EUV related systems, along with the related factory options ordered with the base system, as well as metrology and inspection systems. Prior to shipment, the majority of our systems undergo a Factory Acceptance Test (FAT) in our cleanroom facilities, effectively replicating the operating conditions that will be present on the customer’s site, in order to verify whether the system meets its standard specifications and any additional technical and performance criteria agreed with the customer. A system is shipped only after all contractual specifications are met or discrepancies from agreed upon specifications are waived and customer signoff is received for delivery. Each system’s performance is re-tested through a Site Acceptance Test (SAT) after installation at the customer site. We have never failed to successfully complete installation of a system at a customer’s premises; therefore, acceptance at FAT is considered to be proven for established technologies with a history of successful customer acceptances at SAT (equal or better than FAT). Transfer of control of a system undergoing FAT, and recognition of revenue related to this system, will occur upon delivery of the system, depending on the Incoterms. Transfer of control of a system not undergoing a FAT, and recognition of revenue related to this system, will occur upon customer acceptance of the system at SAT. Used systems We have no significant repurchase commitments in our general sales terms and conditions, however from time to time we repurchase systems that we have manufactured and sold and, following refurbishment, will resell to other customers. This repurchase decision is mainly driven by market demand expressed by other customers and less frequently by explicit or implicit contractual arrangements relating to the initial sale. We consider reasonable offers from any vendor, including customers, to repurchase used systems that we can refurbish, resell, and install as part of our normal business operations. Transfer of control of the systems, and related revenue recognition, will occur either upon delivery of the system to the carrier or upon arrival of the system to the customer’s loading dock, depending on the Incoterms and if a FAT was performed prior to shipment. If no FAT was performed, then transfer of control will be upon customer acceptance at SAT. If a FAT was performed, then transfer of control will be upon customer acceptance at FAT, refer to "New systems (established technologies)". Field upgrades and options (system enhancements) Field upgrades and options mainly relate to goods and services that are delivered for systems already installed in the customer factories. Certain upgrades require significant installation efforts, enhancing an asset the customer controls, therefore resulting in transfer of control over the period of installation, measured using the cost incurred method which is estimated using labor hours, as this best depicts the satisfaction of our obligation in transferring control. The options and other upgrades that do not require significant installation effort transfer control upon delivery, depending on the Incoterms. As long as we are not able to make a reliable estimate of the total efforts needed to complete the upgrade, we only recognize revenue to cover costs incurred. Margin will be realized at the earlier of us being able to make a reliable estimate or completion of the upgrade. New product introduction New product introductions are typically newly developed options to be used within our systems. Transfer of control and revenue recognition for new product introductions occurs upon customer acceptance (generally at SAT). Once there is an established history of successful installation and customer acceptance, revenue will be recognized consistent with other systems and goods after transfer of control. Installation Installation is provided within the selling price of a system. Installation is considered to be distinct as it does not significantly modify the system being purchased and the customer or a third party could be capable of performing the installation themselves if desired. Transfer of control takes place over the period of installation from delivery through SAT, measured on a straight-line basis, as our performance is satisfied evenly over this period of time. As long as we are not able to make a reliable estimate of the total efforts needed to complete the installation, we only recognize revenue to cover costs incurred. Margin will be realized at the earlier of us being able to make a reliable estimate or installation completion. Warranties We provide standard warranty coverage on our systems for 12 months, providing labor and non-consumable parts necessary to repair our systems during these warranty periods. These standard warranties cannot be purchased and do not provide a service in addition to the general assurance the system will perform as promised. As a result, no revenue is allocated to these standard warranties. Both the extended and enhanced (optic) warranties on our systems are accounted for as a separate performance obligation, with transfer of control taking place over the warranty period, measured on a straight-line basis, as this is a stand-ready obligation. Time-based licenses and related service Time-based licenses relate to software licenses and the related service which are sold for a period of time. The licenses and the related service are not considered to be individually distinct and the transfer of control takes place over the license term, measured on a straight-line basis, as our performance is satisfied evenly over this period of time. Payments are made in installments throughout the license term. Goods or services Nature, timing of satisfying the performance obligations, and significant payment terms Application projects Application projects are node transition and consulting projects which at times may be provided as free service within a volume purchase agreement. Measuring satisfaction of this performance obligation is performed through an input method based on the labor hours expended relative to the estimated total labor hours as this best depicts the transfer of control of these kind of services. As long as we are not able to make a reliable estimate of the total efforts needed to complete these kind of projects, we only recognize revenue to cover costs incurred. Margin will be realized at the earlier of us being able to make a reliable estimate or project completion. Service contracts Service contracts are entered into with our customers to support our systems used in their ongoing operations during the systems lifecycle, typically in the form of full-service agreements, limited manpower agreements, other labor agreements, parts availability or parts usage agreements. These services are typically for a specified period of time. Control transfers over this period of time, measured on a straight-line basis, as these are stand-ready obligations, with an exception for the labor hour pool service contracts for which we recognize revenue in line with invoicing, using the practical expedient in ASC 606-10-55-18. Invoicing is typically performed monthly or quarterly throughout the service period, typically payable within 15-45 days. Billable parts and labor Billable labor represents maintenance services to our systems installed in the customer’s factories while in operation, through purchase orders from our customer. Control over these services is transferred to the customer upon receipt of customer sign-off. Billable parts represent spare parts including optical components relating to our systems installed in the customer’s factories while in operation, through purchase orders from our customer. Billable parts can be: • Sold as direct spare parts, for which control transfers upon the relevant Incoterms; or • Sold as part of maintenance services, for which control transfers upon receipt of customer sign-off. Field projects (relocations) Field projects represent mainly relocation services. Measuring satisfaction of this performance obligation is performed through an input method based on the labor hours expended relative to the estimated total labor hours as this best depicts the transfer of control of our service. OnPulse Maintenance OnPulse maintenance services are provided over a specified period of time on our light source systems. Payment is determined by the amount of pulses counted from each light source system, which is variable. Invoicing is monthly based on the pulses counted. Revenue is recognized in line with invoicing using the practical expedient in ASC 606-10-55-18. |
Lease Arrangements | Lease arrangements - Lessee We determine if an arrangement is a lease at inception. Determining whether a contract contains a lease requires judgment. In general, arrangements are considered to be a lease when all of the following apply: • It conveys the right to control the use of an identified asset for a period of time in exchange for consideration; • We have substantially all economic benefits from the use of the asset; and • We can direct the use of the identified asset. Each lease arrangement we enter into is classified as either a finance lease or an operating lease, which is determined at lease commencement or at the modification of the lease arrangement and based upon the terms of each lease. Lease assets and lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. The right-of-use asset includes all lease payments made and initial direct costs incurred. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. For operating leases the lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. For finance leases each lease payment is allocated between the liability and finance cost. The finance cost is charged to the Consolidated Statements of Operations over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. The finance lease asset is depreciated over the shorter of the asset's useful life and the lease term on a straight-line basis. We have lease agreements with lease and non-lease components, which are generally accounted for as a single lease component. For certain equipment and for leased warehouses we account for the lease and non-lease components separately. For warehouse leases the allocation of the consideration between lease and non-lease components is based on the relative stand-alone prices of lease components included in the lease contracts. Additionally, for car leases, we apply a portfolio approach to effectively account for the operating lease right-of-use assets and liabilities. Operating leases are included in right-of-use assets and in accrued and other liabilities. Finance leases are included in property, plant and equipment and long-term debt. |
Lessor, Leases [Policy Text Block] | Lease Arrangements - Lessor We classify a lease as a sales-type when the lease meets any of the following criteria at lease commencement: • The lease transfers ownership of the underlying asset to the lessee by the end of the lease term; • The lease grants the lessee an option to purchase the underlying asset that the lessee is reasonably certain to exercise; • The lease term is for the major part of the remaining economic life of the underlying asset. However, if the commencement date falls at or near the end of the economic life of the underlying asset, this criterion shall not be used for purposes of classifying the lease; • The present value of the sum of the lease payments and any residual value guaranteed by the lessee that is not already reflected in the lease payments equals or exceeds substantially all of the fair value of the underlying asset; or • The underlying asset is of such a specialized nature that it is expected to have no alternative use to the lessor at the end of the lease term. Revenue is recognized at commencement of the lease term of a sales-type lease. The present value of the lease payments is recognized as a finance receivable. The difference between the gross receivable and the present value of the receivable is unearned interest, which is recognized over time in the Consolidated Statements of Operations. A lease is classified as an operating lease if the lease classification criteria (as described above) are not met. If we have offered our customers an operating lease arrangement, the contract consideration is recognized in the Consolidated Statements of Operations on a straight-line basis over the period of the lease. Sales-type leases Leases where substantially all the risks and rewards incidental to ownership of an asset are transferred to the lessee are classified as sales-type lease arrangements. If we have offered the customer a sales-type lease arrangement, revenue is recognized at commencement of the lease term. The difference between the gross finance receivable and the present value of the minimum lease payments is initially recognized as unearned interest and presented as a deduction to the gross finance receivable. Interest income is recognized in the Consolidated Statement of Operations over the term of the lease contract using the effective interest method. Operating leases Leases whereby all the risks and rewards incidental to ownership are not transferred to the lessee are classified as operating lease arrangements. If we have offered the customer an operating lease arrangement, the system is included in property, plant and equipment upon commencement of the lease. Revenue from operating lease arrangements is recognized in the Consolidated Statement of Operations on a straight-line basis over the term of the lease contract. |
Warranty | Warranty We provide standard warranty coverage on our systems for 12 months and on certain optic parts for 60 months , providing labor and parts necessary to repair systems during the warranty period. The estimated warranty costs are accounted for by accruing these costs for each system upon recognition of the system sale. The estimated warranty costs are based on historical product performance and service records. We calculate the charge of average service hours and parts per system to determine the estimated warranty costs. On an annual basis, we assess, and update if necessary, our accounting estimates used to calculate the costs of the standard warranty coverage . |
Customer Co-Investment Program | Customer Co-Investment Program In connection with the CCIP, we entered into investment agreements, shareholders agreements, NRE Funding Agreements and a commercial agreement with Participating Customers. The investment agreements, shareholder agreements, NRE Funding Agreements and commercial agreement are accounted for as a multiple-element arrangement with each of the Participating Customers. The following two separate elements are identified: (1) the share issuance (governed by the investment agreements and the shareholder agreements) and (2) the NRE funding and commercial discounts and credits (governed by the NRE Funding Agreements and the commercial agreement with Intel). The shares issued to the Participating Customers were recorded at fair value based on quoted share prices ( EUR 3,977.4 million ) with the remaining aggregate arrangement consideration allocated to the NRE funding and commercial discounts and credits. The difference between the fair value of the shares at the time of issuance and the subscription price of the shares ( EUR 39.91 ) was recorded as a deduction from shareholders’ equity upon issuance of the shares ( EUR 123.4 million ). Shareholders’ equity is increased to the fair value of the shares as the portion of the NRE funding allocable to the shares is received over the NRE funding period ( 2013-2017 ). A significant related party relationship existed between ASML and Intel as a result of the equity investment made by Intel as part of the CCIP. Based on the commercial discounts and credits (governed by the commercial agreement with Intel) and the significant related party relationship that existed up to July 2, 2017, all NRE funding from Intel was deferred and recognized in the Consolidated Statements of Operations only when the commercial discounts and credits are earned. |
Cost of Sales | Cost of sales Cost of system and field option sales comprise direct product costs such as materials, labor, cost of warranty, depreciation, amortization, shipping and handling costs and related overhead costs. Costs of service sales comprise direct service costs such as materials, labor, depreciation and overhead costs. |
Other Income | The portion of the NRE funding from TSMC and Samsung not allocable to the shares issued to those Participating Customers under the CCIP was recognized in other income when the R&D costs relating to lithography projects were recognized over the NRE funding period ( 2013-2017 ). |
R&D Costs and Credits | Research and development costs and credits Costs relating to R&D are charged to operating expenses as incurred. ASML receives subsidies and other grants from several Dutch and international (inter-)governmental institutes (‘government grants’). These government grants that cover R&D costs relating to approved projects are recorded as R&D credits in the R&D costs in the Consolidated Statements of Operations. Government grants are not recognized until there is reasonable assurance that ASML will comply with the conditions and that the grants will be received. Government grants that are received as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support to ASML with no future related costs, are recognized in the Consolidated Statements of Operations in the period in which they become receivable. |
Share-based Payments | Share-based payments Compensation expenses in relation to share-based payments are recognized based upon the grant-date fair value of stock options and shares. The grant-date fair value of stock options is estimated using a Black-Scholes option valuation model. This Black-Scholes model requires the use of assumptions, including expected share price volatility, the estimated life of each award and the estimated dividend yield. The risk-free interest rate used in the model is determined, based on an index populated with euro-denominated European government agency bond with high credit ratings and with a life equal to the expected life of the equity-settled share-based payments. The grant-date fair value of shares is determined based on the closing price of our shares listed at Euronext Amsterdam on the grant-date. The grant-date fair value of the equity-settled share-based payments is, based on the terms and conditions, expensed over the vesting period, based on our estimate of equity instruments that will eventually vest. At each balance sheet date, we revise our estimate of the number of equity instruments expected to vest. The impact of the revision of the original estimates, if any, is recognized in the Consolidated Statements of Operations in the period in which the revision is determined, with a corresponding adjustment to shareholders’ equity. |
Income Taxes | Income taxes The asset and liability method is used in accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for the tax effect of incurred net operating losses and for tax consequences attributable to differences between the balance sheet carrying amounts of existing assets and liabilities and their respective tax bases. If it is more likely than not that the carrying amounts of deferred tax assets will not be realized, a valuation allowance is recorded for the differences. Tax expense includes current taxes on profit as well as actual or potential withholding taxes on current and expected income from group companies. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the Consolidated Statements of Operations in the period that includes the enactment date. We recognize liabilities for uncertain tax positions based on a two-step process. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50 percent likely of being realized upon settlement. While we believe we have appropriate support for the positions taken on our tax returns, we regularly assess the potential outcomes of examinations by tax authorities in determining the adequacy of our provision for income taxes, and adjust the income tax provision, income taxes payable and deferred taxes in the period in which the facts that give rise to a revision become known. |
Contingencies and Litigation | Contingencies and litigation In connection with proceedings and claims, our management evaluates, based on the relevant facts and legal principles, the likelihood of an unfavorable outcome and whether the amount of the loss can be reasonably estimated. In most cases, management determined that either a loss was not probable or was not reasonably estimable. Significant subjective judgments were required in these evaluations, including judgments regarding the validity of asserted claims and the likely outcome of legal and administrative proceedings. The outcome of these proceedings, however, is subject to a number of factors beyond our control, most notably the uncertainty associated with predicting decisions by courts and administrative agencies. In addition, estimates of the potential costs associated with legal and administrative proceedings frequently cannot be subjected to any sensitivity analysis, as damage estimates or settlement offers by claimants may bear little or no relation to the eventual outcome. Finally, in any particular proceeding, we may agree to settle or to terminate a claim or proceeding in which we believe that it would ultimately prevail where we believe that doing so, when taken together with other relevant commercial considerations, is more effective than engaging in an expensive and protracted litigation, the outcome of which is uncertain. We accrue for legal costs related to litigation in our Consolidated Statements of Operations at the time when the related legal services are actually provided to us. |
Net Income per Ordinary Share | Net income per ordinary share Basic net income per ordinary share is calculated by dividing net income by the weighted average number of ordinary shares outstanding for that period. The dilutive effect is calculated using the treasury stock method. Excluded from the diluted weighted average number of shares outstanding calculation are cumulative preference shares contingently issuable to the preference share foundation, since they represent a different class of stock than the ordinary shares. The basic and diluted net income per ordinary share has been calculated as follows: Year ended December 31 2016 1 2017 1 2018 (in millions, except per share data) EUR EUR EUR Net income 1,557.8 2,066.7 2,591.6 Weighted average number of shares outstanding 425.6 429.8 424.9 Basic net income per ordinary share 3.66 4.81 6.10 Weighted average number of shares outstanding 425.6 429.8 424.9 Plus shares applicable to Options and conditional shares 2.1 1.8 1.5 Dilutive potential ordinary shares 2.1 1.8 1.5 Diluted weighted average number of shares 427.7 431.6 426.4 Diluted net income per ordinary share 2 3.64 4.79 6.08 1. As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. 2. The calculation of diluted net income per ordinary share assumes the exercise of options issued under our stock option plans and the issuance of shares under our share plans for periods in which exercises or issuances would have a dilutive effect. The calculation of diluted net income per ordinary share does not assume exercise of options when exercise would be anti-dilutive. |
Comprehensive Income | Comprehensive income Comprehensive income consists of net income and OCI, including unrealized gains and losses on financial instruments, derivative financial instruments designated for cash flow hedge accounting, net of taxes, and unrealized gains and losses on foreign currency translation and effective portion of hedges on net investments, net of taxes. OCI also contains gains and losses that are not included in net income (loss) related to the proportionate share of other comprehensive income from equity method investments. |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Adoption of ASC 606 "Revenue from Contracts with Customers" In March 2014, the FASB issued ASU No. 2014-9 "Revenue From Contracts With Customers". The standard is a joint project of the FASB and the IASB, to clarify the principles for recognizing revenue and to develop a common revenue standard for US GAAP and IFRS that would: • Remove inconsistencies and weaknesses in previous revenue requirements; • Provide a more robust framework for addressing revenue issues; • Improve comparability of revenue recognition practices across entities, industries, jurisdictions and capital markets; • Provide more useful information to users of financial statements through improved disclosure requirements; and • Simplify the preparation of financial statements by reducing the number of requirements to which an entity must refer. We have closely assessed the impact of adopting ASC 606 on our Consolidated Financial Statements by assessing all contracts that have an impact on net system sales and net service and field option sales over 2017 and 2016 . We have finalized our assessment of all contracts based on which we have adopted ASC 606 "Revenue from Contracts with Customers" with a date of the initial application of January 1, 2018. We have selected full retrospective adoption and therefore have restated all years presented in our Consolidated Financial Statements upon adoption. As a result, we have changed our accounting policy for revenue recognition as detailed below. We applied ASC 606 for the years ended December 31, 2016 and 2017 retrospectively using the practical expedients in paragraph ASC 606-10-65-1(f) , under which we: • Do not restate contracts that begin and are completed in the same annual or semi-annual reporting period; • Used the transaction price at the date the contract was completed rather than estimating variable consideration amounts in the comparative reporting periods; • Do not disclose the amount of consideration allocated to the remaining performance obligations or an explanation of when we expect to recognize that amount as revenue for all reporting periods presented before the date of the initial application - i.e. January 1, 2018; and • Reflect the aggregate effect of all modifications that occurred before January 1, 2016 when identifying the performance obligations, determining the transaction price and allocating the transaction price to the satisfied and unsatisfied performance obligations. Applying these practical expedients does not have a significant impact on our adjusted annual financial results as the impact is limited to certain shifts of revenue recognition between periods due to not using the hindsight allowed by these practical expedients. The details of the significant changes and quantitative impact of the changes are disclosed below: A. Allocation of consideration based on stand-alone selling price We changed from allocating the consideration of a contract to the elements of the contract using the relative selling price determined through VSOE or BESP in accordance with ASC 605 to allocating the consideration of a contract based on stand-alone selling prices determined using the adjusted market assessment approach in accordance with ASC 606 . As a result, we consider customer discounts and credits, within volume purchase agreements, a reduction of the transaction price. Consequently, we allocate these customer discounts and credits ratably to the performance obligations based on the stand-alone selling prices. As we have very limited sales on a stand-alone basis we have to make estimates to determine our stand-alone selling prices. For this we selected the adjusted market assessment approach. This estimate requires our judgment as we mainly enter into bundled arrangements and we sell specialized goods and services. Furthermore, we have no insight into the stand-alone selling prices of our competitors for comparable products and services. Therefore, we considered our pricing policies and practices, which are based on the value we provide to our customers. Our internal pricing policies result in a list price, which is for the majority of products only determined and set when the products or services are introduced. We conclude that these list prices generally do not reflect the stand-alone selling prices over the lifetime of the related product or services. To determine the stand-alone selling prices for our products and services we used data of bundled arrangements over the last one to three years and derived the price for which each system model would be sold, on a stand-alone basis, from this data. We used the same relative step-down from the list price for options and services that are sold together with the system. For other services we used list prices, as these contracts typically have duration of one year and prices are updated periodically. For options that are not sold as part of a system for systems already installed at the customer, we used the contract data over the last three years and derived the price for which these options would be sold, on a stand-alone basis, from this data. B. Field upgrades Transfer of control of field upgrades and options, that require significant installation efforts, was previously upon customer acceptance of the upgraded system. The new over-time revenue recognition requirement, in ASC 606-10-25-27 regarding performance that enhances an asset the customer controls, results in revenue for these field upgrades and options to be recognized over time during the period of installation. C. Installation Installation revenue was previously recognized upon completion and customer acceptance. It has been determined, in accordance with ASC 606-10-25-27 , that the customer simultaneously consumes and receives the benefits provided by the performance of the installation. As a result, transfer of control takes place over the period of installation from delivery through customer acceptance, measured on a straight-line basis, as our performance is satisfied evenly over this period of time. D. Applications projects and Field projects (relocations) Applications and Field project revenue was previously recognized upon completion and customer acceptance. It has been determined, in accordance with ASC 606-10-25-27 , that the customer simultaneously consumes and receives the benefits provided by the performance of our services. As a result, the transfer of control occurs throughout the service period. E. Bill-and-hold transactions Previously, in order to recognize revenue for a bill-and-hold transaction, we required a fixed schedule of delivery, as well as the buyer must have had a substantial business purpose for requesting the bill-and-hold transaction , in combination with the other requirements of SAB Topic 13. In accordance with ASC 606-10-55-83, we no longer require a fixed scheduled delivery and a customer’s explicit request. F. Options to buy as a material right Options to buy goods or services, in addition to the purchase commitment, were previously not assessed as a separate element. These options are now assessed in order to determine if they provide a material right to the customer they would not have received if they had not entered into the contract. Each option to buy additional goods or services provided at a discount from the stand-alone selling price is considered a material right and will be recognized as revenues in accordance with ASC 606-10-55-42. G. Contract assets and liabilities The contract assets primarily relate to our rights to a consideration for goods or services delivered but not invoiced at the reporting date. The contract assets are transferred to receivables when invoiced and the rights become unconditional. The contract liabilities primarily relate to down payments, received on systems to be delivered, as well as deferred revenue from system shipments, based on the allocation of the consideration to the related performance obligations in the contract. This balance mainly consists of extended warranties, installation and other free goods or services provided as part of a volume purchase agreement. The majority of our customer contracts contain both asset and liability positions. At the end of each reporting period, these positions are netted on a contract basis and presented as either an asset or a liability in the financial statements. Consequently, a contract balance can change between periods from a net contract asset balance to a net contract liability balance on the balance sheet. The following tables summarize the impacts of the adoption of ASC 606 on our Consolidated Statements of Operations and Comprehensive Income for the year ended December 31, 2017: Consolidated Statements of Operations Year ended December 31, 2017 As previously reported Adoption of ASC 606 As adjusted (in millions, except per share data) EUR EUR EUR Net system sales 6,373.7 50.7 6,424.4 Net service and field option sales 2,679.1 (140.8 ) 2,538.3 Total net sales 9,052.8 (90.1 ) 8,962.7 Cost of system sales (3,459.0 ) 19.1 (3,439.9 ) Cost of service and field option sales (1,517.1 ) 14.5 (1,502.6 ) Total cost of sales (4,976.1 ) 33.6 (4,942.5 ) Gross profit 4,076.7 (56.5 ) 4,020.2 Other income 95.8 — 95.8 Research and development costs (1,259.7 ) — (1,259.7 ) Selling, general and administrative costs (416.6 ) — (416.6 ) Income from operations 2,496.2 (56.5 ) 2,439.7 Interest and other, net (50.3 ) — (50.3 ) Income before income taxes 2,445.9 (56.5 ) 2,389.4 Provision for income taxes (310.7 ) 4.7 (306.0 ) Income after income taxes 2,135.2 (51.8 ) 2,083.4 Profit (loss) related to equity method investments (16.7 ) — (16.7 ) Net income 2,118.5 (51.8 ) 2,066.7 Basic net income per ordinary share 4.93 4.81 Diluted net income per ordinary share 4.91 4.79 Number of ordinary shares used in computing per share amounts Basic 429.8 429.8 Diluted 431.6 431.6 Consolidated Statements of Comprehensive Income Year ended December 31, 2017 As previously reported Adoption of ASC 606 As adjusted (in millions) EUR EUR EUR Net income 2,118.5 (51.8 ) 2,066.7 Other comprehensive income: Proportionate share of other comprehensive income from equity method investments (1.0 ) — (1.0 ) Foreign currency translation, net of taxes: Gain (loss) on foreign currency translation and effective portion of hedges on net investments (329.0 ) — (329.0 ) Financial instruments, net of taxes: Gain (loss) on derivative financial instruments (16.6 ) — (16.6 ) Transfers to net income (3.1 ) — (3.1 ) Other comprehensive income, net of taxes (349.7 ) — (349.7 ) Total comprehensive income, net of taxes 1,768.8 (51.8 ) 1,717.0 Attributable to equity holders 1,768.8 (51.8 ) 1,717.0 The following table summarizes the impacts of the adoption of ASC 606 on our Consolidated Balance Sheets as of December 31, 2017: Consolidated Balance Sheets As of December 31, 2017 As previously reported Adoption of ASC 606 As adjusted (in millions, except share and per share data) EUR EUR EUR Assets Cash and cash equivalents 2,259.0 — 2,259.0 Short-term investments 1,029.3 — 1,029.3 Accounts receivable, net 1,772.3 (32.0 ) 1,740.3 Finance receivables, net 59.1 — 59.1 Current tax assets 61.6 — 61.6 Contract assets — 270.4 270.4 Inventories, net 2,958.4 (2.8 ) 2,955.6 Other assets 867.3 (356.8 ) 510.5 Total current assets 9,007.0 (121.2 ) 8,885.8 Finance receivables, net 264.9 — 264.9 Deferred tax assets 31.7 — 31.7 Other assets 602.7 — 602.7 Equity method investments 982.2 — 982.2 Goodwill 4,541.1 — 4,541.1 Other intangible assets, net 1,166.0 — 1,166.0 Property, plant and equipment, net 1,600.8 — 1,600.8 Right-of-use assets — — — Total non-current assets 9,189.4 — 9,189.4 Total assets 18,196.4 (121.2 ) 18,075.2 Liabilities and shareholders’ equity Accounts payable 837.3 — 837.3 Accrued and other liabilities 2,327.4 (1,734.6 ) 592.8 Current tax liabilities 152.0 — 152.0 Current portion of long-term debt 25.2 — 25.2 Contract liabilities — 1,530.0 1,530.0 Total current liabilities 3,341.9 (204.6 ) 3,137.3 Long-term debt 3,000.1 — 3,000.1 Deferred and other tax liabilities 327.9 13.2 341.1 Contract liabilities — 622.0 622.0 Accrued and other liabilities 850.3 (652.0 ) 198.3 Total non-current liabilities 4,178.3 (16.8 ) 4,161.5 Total liabilities 7,520.2 (221.4 ) 7,298.8 Issued and outstanding shares 38.8 — 38.8 Share premium 3,732.5 — 3,732.5 Treasury shares at cost (557.9 ) — (557.9 ) Retained earnings 5,092.8 152.0 5,244.8 Earnings current year 2,118.5 (51.8 ) 2,066.7 Accumulated other comprehensive income 251.5 — 251.5 Total shareholders’ equity 10,676.2 100.2 10,776.4 Total liabilities and shareholders’ equity 18,196.4 (121.2 ) 18,075.2 The following tables summarize the impacts of the adoption of ASC 606 on our Consolidated Statements of Cash Flows for the for the year ended December 31, 2017: Consolidated Statements of Cash Flows Year ended December 31, 2017 As previously reported Adoption of ASC 606 As adjusted (in millions) EUR EUR EUR Cash Flows from Operating Activities Net income 2,118.5 (51.8 ) 2,066.7 Adjustments to reconcile net income to net cash flows from operating activities: Depreciation and amortization 417.5 — 417.5 Impairment 9.0 — 9.0 Loss on disposal of property, plant and equipment 2.8 — 2.8 Share-based payments 53.1 — 53.1 Allowance for doubtful receivables 7.8 — 7.8 Allowance for obsolete inventory 120.1 — 120.1 Deferred income taxes (7.6 ) (0.8 ) (8.4 ) Equity method investments, net of income taxes 16.7 — 16.7 Changes in assets and liabilities: Accounts receivable (1,142.4 ) 6.0 (1,136.4 ) Finance receivables 224.8 (61.3 ) 163.5 Inventories (237.8 ) (46.3 ) (284.1 ) Other assets (389.8 ) 294.0 (95.8 ) Accrued and other liabilities 491.2 (400.3 ) 90.9 Accounts payable 266.5 — 266.5 Current tax assets and liabilities (151.8 ) — (151.8 ) Contract assets and liabilities — 260.5 260.5 Net cash provided by operating activities 1,798.6 — 1,798.6 Cash Flows from Investing Activities Purchase of property, plant and equipment (338.9 ) — (338.9 ) Purchase of intangible assets (19.1 ) — (19.1 ) Purchase of short-term investments (1,129.3 ) — (1,129.3 ) Maturity of short-term investments 1,250.0 — 1,250.0 Cash from (used for) derivative financial instruments 27.0 — 27.0 Loans issued and other investments (0.6 ) — (0.6 ) Repayment on loans 1.6 — 1.6 Acquisition of equity method investments (1,019.7 ) — (1,019.7 ) Dividend income from equity method investments 19.7 — 19.7 Acquisition of subsidiaries (net of cash acquired) — — — Net cash used in investing activities (1,209.3 ) — (1,209.3 ) Cash Flows from Financing Activities Dividend paid (516.7 ) — (516.7 ) Purchase of treasury shares (500.0 ) — (500.0 ) Net proceeds from issuance of shares 50.6 — 50.6 Net proceeds from issuance of notes — — — Repayment of debt (243.0 ) — (243.0 ) Tax benefit (deficit) from share-based payments — — — Net cash used in financing activities (1,209.1 ) — (1,209.1 ) Net cash flows (619.8 ) — (619.8 ) Effect of changes in exchange rates on cash (28.1 ) — (28.1 ) Net increase (decrease) in cash and cash equivalents (647.9 ) — (647.9 ) Cash and cash equivalents at beginning of the year 2,906.9 — 2,906.9 Cash and cash equivalents at end of the year 2,259.0 — 2,259.0 The following tables summarize the impacts of the adoption of ASC 606 on our Consolidated Statements of Operations and Comprehensive Income for the year ended December 31, 2016: Consolidated Statements of Operations Year ended December 31, 2016 As previously reported Adoption of ASC 606 As adjusted (in millions, except per share data) EUR EUR EUR Net system sales 4,672.0 46.9 4,718.9 Net service and field option sales 2,122.8 33.4 2,156.2 Total net sales 6,794.8 80.3 6,875.1 Cost of system sales (2,468.2 ) 44.3 (2,423.9 ) Cost of service and field option sales (1,282.1 ) (23.8 ) (1,305.9 ) Total cost of sales (3,750.3 ) 20.5 (3,729.8 ) Gross profit 3,044.5 100.8 3,145.3 Other income 93.8 — 93.8 Research and development costs (1,105.8 ) — (1,105.8 ) Selling, general and administrative costs (374.8 ) — (374.8 ) Income from operations 1,657.7 100.8 1,758.5 Interest and other, net 33.7 — 33.7 Income before income taxes 1,691.4 100.8 1,792.2 Provision for income taxes (219.5 ) (14.9 ) (234.4 ) Income after income taxes 1,471.9 85.9 1,557.8 Profit (loss) related to equity method investments — — — Net income 1,471.9 85.9 1,557.8 Basic net income per ordinary share 3.46 3.66 Diluted net income per ordinary share 3.44 3.64 Number of ordinary shares used in computing per share amounts Basic 425.6 425.6 Diluted 427.7 427.7 Consolidated Statements of Comprehensive Income Year ended December 31, 2016 As previously reported Adoption of ASC 606 As adjusted (in millions) EUR EUR EUR Net income 1,471.9 85.9 1,557.8 Other comprehensive income: Proportionate share of other comprehensive income from equity method investments — — — Foreign currency translation, net of taxes: Gain (loss) on foreign currency translation and effective portion of hedges on net investments 120.4 — 120.4 Financial instruments, net of taxes: Gain (loss) on derivative financial instruments 6.0 — 6.0 Transfers to net income 2.4 — 2.4 Other comprehensive income, net of taxes 128.8 — 128.8 Total comprehensive income, net of taxes 1,600.7 85.9 1,686.6 Attributable to equity holders 1,600.7 85.9 1,686.6 The following table summarizes the impacts of the adoption of ASC 606 on our Consolidated Balance Sheets as of December 31, 2016: Consolidated Balance Sheets As of December 31, 2016 As previously reported Adoption of ASC 606 As adjusted (in millions, except share and per share data) EUR EUR EUR Assets Cash and cash equivalents 2,906.9 — 2,906.9 Short-term investments 1,150.0 — 1,150.0 Accounts receivable, net 700.2 (26.0 ) 674.2 Finance receivables, net 447.4 — 447.4 Current tax assets 11.6 — 11.6 Contract assets — 91.6 91.6 Inventories, net 2,780.9 (49.1 ) 2,731.8 Deferred tax assets — — — Other assets 560.4 (62.8 ) 497.6 Total current assets 8,557.4 (46.3 ) 8,511.1 Finance receivables, net 117.2 (61.3 ) 55.9 Deferred tax assets 34.9 — 34.9 Contract assets — 56.7 56.7 Other assets 612.3 — 612.3 Equity method investments — — — Goodwill 4,873.9 — 4,873.9 Other intangible assets, net 1,323.0 — 1,323.0 Property, plant and equipment, net 1,687.2 — 1,687.2 Right-of-use assets — — — Total non-current assets 8,648.5 (4.6 ) 8,643.9 Total assets 17,205.9 (50.9 ) 17,155.0 Liabilities and shareholders’ equity Accounts payable 593.2 — 593.2 Accrued and other liabilities 2,237.8 (1,590.8 ) 647.0 Current tax liabilities 201.9 — 201.9 Current portion of long-term debt 247.7 — 247.7 Contract liabilities — 1,386.4 1,386.4 Total current liabilities 3,280.6 (204.4 ) 3,076.2 Long-term debt 3,071.8 — 3,071.8 Deferred and other tax liabilities 396.9 14.0 410.9 Provisions 20.5 — 20.5 Contract liabilities — 447.4 447.4 Accrued and other liabilities 615.7 (459.9 ) 155.8 Total non-current liabilities 4,104.9 1.5 4,106.4 Total liabilities 7,385.5 (202.9 ) 7,182.6 Issued and outstanding shares 39.4 — 39.4 Share premium 3,693.5 — 3,693.5 Treasury shares at cost (796.2 ) — (796.2 ) Retained earnings 4,810.6 66.1 4,876.7 Earnings current year 1,471.9 85.9 1,557.8 Accumulated other comprehensive income 601.2 — 601.2 Total shareholders’ equity 9,820.4 152.0 9,972.4 Total liabilities and shareholders’ equity 17,205.9 (50.9 ) 17,155.0 The following tables summarize the impacts of the adoption of ASC 606 on our Consolidated Statements of Cash Flows for the year ended December 31, 2016: Consolidated Statements of Cash Flows Year ended December 31, 2016 As previously reported Adoption of ASC 606 As adjusted (in millions) EUR EUR EUR Cash Flows from Operating Activities Net income 1,471.9 85.9 1,557.8 Adjustments to reconcile net income to net cash flows from operating activities: Depreciation and amortization 356.9 — 356.9 Impairment 3.5 — 3.5 Loss on disposal of property, plant and equipment 5.2 — 5.2 Share-based payments 47.7 — 47.7 Allowance for doubtful receivables 3.2 — 3.2 Allowance for obsolete inventory 73.0 — 73.0 Deferred income taxes (0.6 ) 14.0 13.4 Equity method investments, net of income taxes — — — Changes in assets and liabilities: Accounts receivable 187.4 26.0 213.4 Finance receivables (156.1 ) 61.3 (94.8 ) Inventories (43.7 ) 49.1 5.4 Other assets (152.9 ) 62.8 (90.1 ) Accrued and other liabilities (273.9 ) 246.9 (27.0 ) Accounts payable 50.9 — 50.9 Current tax assets and liabilities 93.4 — 93.4 Contract assets and liabilities — (546.0 ) (546.0 ) Net cash provided by operating activities 1,665.9 — 1,665.9 Cash Flows from Investing Activities Purchase of property, plant and equipment (316.3 ) — (316.3 ) Purchase of intangible assets (8.4 ) — (8.4 ) Purchase of short-term investments (2,520.0 ) — (2,520.0 ) Maturity of short-term investments 2,320.0 — 2,320.0 Cash from (used for) derivative financial instruments (15.0 ) — (15.0 ) Loans issued and other investments — — — Repayment on loans (7.4 ) — (7.4 ) Acquisition of equity method investments — — — Dividend income from equity method investments — — — Acquisition of subsidiaries (net of cash acquired) (2,641.3 ) — (2,641.3 ) Net cash used in investing activities (3,188.4 ) — (3,188.4 ) Cash Flows from Financing Activities Dividend paid (445.9 ) — (445.9 ) Purchase of treasury shares (400.0 ) — (400.0 ) Net proceeds from issuance of shares 582.7 — 582.7 Net proceeds from issuance of notes 2,230.6 — 2,230.6 Repayment of debt (4.7 ) — (4.7 ) Tax benefit (deficit) from share-based payments 0.9 — 0.9 Net cash used in financing activities 1,963.6 — 1,963.6 Net cash flows 441.1 — 441.1 Effect of changes in exchange rates on cash 7.1 — 7.1 Net increase (decrease) in cash and cash equivalents 448.2 — 448.2 Cash and cash equivalents at beginning of the year 2,458.7 — 2,458.7 Cash and cash equivalents at end of the year 2,906.9 — 2,906.9 Adoption of ASC 842 "Leases" As of January 1, 2018, ASML has early adopted ASC 842 "Leases". We applied a modified retrospective adoption and therefore restated 2016 and 2017. The most significant changes in our accounting policy (compared to ASC 840 "Leases") are the recognition of right-of-use assets and lease liabilities for operating leases and the classification of leases from a lessor perspective. As of December 31, 2016 and 2017, our impact resulting from operating leases is as follows: • We have recognized right-of-use assets and lease liabilities of EUR 131 million and EUR 114 million , respectively. • The short term portion of the lease liabilities of EUR 28 million and EUR 33 million , respectively, has been classified as accrued and other liabilities - current. • The long term portion of the lease liabilities of EUR 103 million and EUR 81 million , respectively, has been included in the accrued and other liabilities - non-current. As of December 31, 2016 and 2017, we reclassified our non-current accounts receivable of EUR 32 million and EUR 106 million , respectively, from finance receivables to other assets - non-current in order to present our sales-type leases separate on our balance sheet within finance receivables. We elected the following practical expedients as a package and applied these consistently to all of our leases (including those for which we are a lessee or a lessor): • We did not reassess whether any expired or existing contracts are or contain leases. • We did not reassess the lease classification for any expired or existing leases (that is, all existing leases that were classified as operating leases in accordance with ASC 840 have been classified as operating leases, and all existing leases that were classified as capital leases in accordance with ASC 840 have been classified as finance leases). • We excluded initial direct costs for any existing leases. Adoption of ASU 2016-16 Income Taxes: "Intra-Entity Transfers of Assets Other Than Inventory" As of January 1, 2018, ASML adopted ASU 2016-16 Income taxes: "Intra-entity transfers of assets other than inventory". We applied a modified retrospective adoption with a cumulative effect adjustment to Retained earnings as of January 1, 2018. The most significant change in our accounting policy is that prepaid taxes as calculated using the purchaser’s rather than the seller’s tax jurisdiction (except for prepaid taxes arising from intra-entity transfers of inventory). As of January 1, 2018, retained earnings decreased with EUR 85 million and other assets decreased with EUR 157 million whereas Deferred tax assets increased with EUR 72 million . This impact mainly relates to a so-called bi-lateral advanced pricing agreement between the US and the Dutch tax authorities on a inter group transfer of intellectual property rights. Adoption of ASU 2017-04 "Simplifying the Test for Goodwill Impairment" As of January 1, 2018, ASML adopted ASU 2017-04 "Simplifying the Test for Goodwill Impairment". This accounting standard update removes Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. The guidance provides that a goodwill impairment is the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. All other goodwill impairment guidance remains largely unchanged. |
New US GAAP Accounting Pronouncements | New US GAAP accounting pronouncements issued but not adopted For the below mentioned ASUs issued up to the date of this report but not yet adopted by us, the impact on our Financial Statements needs to be assessed: ASU No. 2016-13 "Financial Instruments - Credit Losses (Topic 326)" was issued by the FASB in June 2016 and will provide financial statement users with more information about the expected credit losses on financial instruments and other commitments to extend credit held by an entity at each reporting date. The Update i s effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. Early adoption is permitted for periods beginning after December 15, 2018. The Standard will be applied using a modified retrospective approach, which requires a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the Standard is effective. We will therefore not restate prior years presented in our Consolidated Financial Statements upon adoption. We are currently in the process of determining the impact of implementing this Standard on our Consolidated Financial Statements. We believe that the impact of all other recently issued ASUs, either adopted or not yet adopted by us, do not have or are not expected to have a material impact on our Consolidated Financial Statements. |
General Information _ Summary_3
General Information / Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Estimated Useful Lives of Finite-Lived Other Intangible Assets | The following table presents the estimated useful lives of our finite-lived other intangible assets: Category Estimated useful life Brands 20 years Intellectual property 3 - 10 years Developed technology 6 - 15 years Customer relationships 8 - 18 years Other 2 - 6 years |
Estimated Useful Lives of Property, Plant and Equipment | The following table presents the estimated useful lives of our property, plant and equipment: Category Estimated useful life Buildings and constructions 5 - 45 years Machinery and equipment 1 - 5 years Leasehold improvements 1 - 10 years Furniture, fixtures and other equipment 3 - 5 years |
Net Income per Ordinary Share | The basic and diluted net income per ordinary share has been calculated as follows: Year ended December 31 2016 1 2017 1 2018 (in millions, except per share data) EUR EUR EUR Net income 1,557.8 2,066.7 2,591.6 Weighted average number of shares outstanding 425.6 429.8 424.9 Basic net income per ordinary share 3.66 4.81 6.10 Weighted average number of shares outstanding 425.6 429.8 424.9 Plus shares applicable to Options and conditional shares 2.1 1.8 1.5 Dilutive potential ordinary shares 2.1 1.8 1.5 Diluted weighted average number of shares 427.7 431.6 426.4 Diluted net income per ordinary share 2 3.64 4.79 6.08 1. As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. 2. The calculation of diluted net income per ordinary share assumes the exercise of options issued under our stock option plans and the issuance of shares under our share plans for periods in which exercises or issuances would have a dilutive effect. The calculation of diluted net income per ordinary share does not assume exercise of options when exercise would be anti-dilutive. |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | The following tables summarize the impacts of the adoption of ASC 606 on our Consolidated Statements of Operations and Comprehensive Income for the year ended December 31, 2017: Consolidated Statements of Operations Year ended December 31, 2017 As previously reported Adoption of ASC 606 As adjusted (in millions, except per share data) EUR EUR EUR Net system sales 6,373.7 50.7 6,424.4 Net service and field option sales 2,679.1 (140.8 ) 2,538.3 Total net sales 9,052.8 (90.1 ) 8,962.7 Cost of system sales (3,459.0 ) 19.1 (3,439.9 ) Cost of service and field option sales (1,517.1 ) 14.5 (1,502.6 ) Total cost of sales (4,976.1 ) 33.6 (4,942.5 ) Gross profit 4,076.7 (56.5 ) 4,020.2 Other income 95.8 — 95.8 Research and development costs (1,259.7 ) — (1,259.7 ) Selling, general and administrative costs (416.6 ) — (416.6 ) Income from operations 2,496.2 (56.5 ) 2,439.7 Interest and other, net (50.3 ) — (50.3 ) Income before income taxes 2,445.9 (56.5 ) 2,389.4 Provision for income taxes (310.7 ) 4.7 (306.0 ) Income after income taxes 2,135.2 (51.8 ) 2,083.4 Profit (loss) related to equity method investments (16.7 ) — (16.7 ) Net income 2,118.5 (51.8 ) 2,066.7 Basic net income per ordinary share 4.93 4.81 Diluted net income per ordinary share 4.91 4.79 Number of ordinary shares used in computing per share amounts Basic 429.8 429.8 Diluted 431.6 431.6 Consolidated Statements of Comprehensive Income Year ended December 31, 2017 As previously reported Adoption of ASC 606 As adjusted (in millions) EUR EUR EUR Net income 2,118.5 (51.8 ) 2,066.7 Other comprehensive income: Proportionate share of other comprehensive income from equity method investments (1.0 ) — (1.0 ) Foreign currency translation, net of taxes: Gain (loss) on foreign currency translation and effective portion of hedges on net investments (329.0 ) — (329.0 ) Financial instruments, net of taxes: Gain (loss) on derivative financial instruments (16.6 ) — (16.6 ) Transfers to net income (3.1 ) — (3.1 ) Other comprehensive income, net of taxes (349.7 ) — (349.7 ) Total comprehensive income, net of taxes 1,768.8 (51.8 ) 1,717.0 Attributable to equity holders 1,768.8 (51.8 ) 1,717.0 The following table summarizes the impacts of the adoption of ASC 606 on our Consolidated Balance Sheets as of December 31, 2017: Consolidated Balance Sheets As of December 31, 2017 As previously reported Adoption of ASC 606 As adjusted (in millions, except share and per share data) EUR EUR EUR Assets Cash and cash equivalents 2,259.0 — 2,259.0 Short-term investments 1,029.3 — 1,029.3 Accounts receivable, net 1,772.3 (32.0 ) 1,740.3 Finance receivables, net 59.1 — 59.1 Current tax assets 61.6 — 61.6 Contract assets — 270.4 270.4 Inventories, net 2,958.4 (2.8 ) 2,955.6 Other assets 867.3 (356.8 ) 510.5 Total current assets 9,007.0 (121.2 ) 8,885.8 Finance receivables, net 264.9 — 264.9 Deferred tax assets 31.7 — 31.7 Other assets 602.7 — 602.7 Equity method investments 982.2 — 982.2 Goodwill 4,541.1 — 4,541.1 Other intangible assets, net 1,166.0 — 1,166.0 Property, plant and equipment, net 1,600.8 — 1,600.8 Right-of-use assets — — — Total non-current assets 9,189.4 — 9,189.4 Total assets 18,196.4 (121.2 ) 18,075.2 Liabilities and shareholders’ equity Accounts payable 837.3 — 837.3 Accrued and other liabilities 2,327.4 (1,734.6 ) 592.8 Current tax liabilities 152.0 — 152.0 Current portion of long-term debt 25.2 — 25.2 Contract liabilities — 1,530.0 1,530.0 Total current liabilities 3,341.9 (204.6 ) 3,137.3 Long-term debt 3,000.1 — 3,000.1 Deferred and other tax liabilities 327.9 13.2 341.1 Contract liabilities — 622.0 622.0 Accrued and other liabilities 850.3 (652.0 ) 198.3 Total non-current liabilities 4,178.3 (16.8 ) 4,161.5 Total liabilities 7,520.2 (221.4 ) 7,298.8 Issued and outstanding shares 38.8 — 38.8 Share premium 3,732.5 — 3,732.5 Treasury shares at cost (557.9 ) — (557.9 ) Retained earnings 5,092.8 152.0 5,244.8 Earnings current year 2,118.5 (51.8 ) 2,066.7 Accumulated other comprehensive income 251.5 — 251.5 Total shareholders’ equity 10,676.2 100.2 10,776.4 Total liabilities and shareholders’ equity 18,196.4 (121.2 ) 18,075.2 The following tables summarize the impacts of the adoption of ASC 606 on our Consolidated Statements of Cash Flows for the for the year ended December 31, 2017: Consolidated Statements of Cash Flows Year ended December 31, 2017 As previously reported Adoption of ASC 606 As adjusted (in millions) EUR EUR EUR Cash Flows from Operating Activities Net income 2,118.5 (51.8 ) 2,066.7 Adjustments to reconcile net income to net cash flows from operating activities: Depreciation and amortization 417.5 — 417.5 Impairment 9.0 — 9.0 Loss on disposal of property, plant and equipment 2.8 — 2.8 Share-based payments 53.1 — 53.1 Allowance for doubtful receivables 7.8 — 7.8 Allowance for obsolete inventory 120.1 — 120.1 Deferred income taxes (7.6 ) (0.8 ) (8.4 ) Equity method investments, net of income taxes 16.7 — 16.7 Changes in assets and liabilities: Accounts receivable (1,142.4 ) 6.0 (1,136.4 ) Finance receivables 224.8 (61.3 ) 163.5 Inventories (237.8 ) (46.3 ) (284.1 ) Other assets (389.8 ) 294.0 (95.8 ) Accrued and other liabilities 491.2 (400.3 ) 90.9 Accounts payable 266.5 — 266.5 Current tax assets and liabilities (151.8 ) — (151.8 ) Contract assets and liabilities — 260.5 260.5 Net cash provided by operating activities 1,798.6 — 1,798.6 Cash Flows from Investing Activities Purchase of property, plant and equipment (338.9 ) — (338.9 ) Purchase of intangible assets (19.1 ) — (19.1 ) Purchase of short-term investments (1,129.3 ) — (1,129.3 ) Maturity of short-term investments 1,250.0 — 1,250.0 Cash from (used for) derivative financial instruments 27.0 — 27.0 Loans issued and other investments (0.6 ) — (0.6 ) Repayment on loans 1.6 — 1.6 Acquisition of equity method investments (1,019.7 ) — (1,019.7 ) Dividend income from equity method investments 19.7 — 19.7 Acquisition of subsidiaries (net of cash acquired) — — — Net cash used in investing activities (1,209.3 ) — (1,209.3 ) Cash Flows from Financing Activities Dividend paid (516.7 ) — (516.7 ) Purchase of treasury shares (500.0 ) — (500.0 ) Net proceeds from issuance of shares 50.6 — 50.6 Net proceeds from issuance of notes — — — Repayment of debt (243.0 ) — (243.0 ) Tax benefit (deficit) from share-based payments — — — Net cash used in financing activities (1,209.1 ) — (1,209.1 ) Net cash flows (619.8 ) — (619.8 ) Effect of changes in exchange rates on cash (28.1 ) — (28.1 ) Net increase (decrease) in cash and cash equivalents (647.9 ) — (647.9 ) Cash and cash equivalents at beginning of the year 2,906.9 — 2,906.9 Cash and cash equivalents at end of the year 2,259.0 — 2,259.0 The following tables summarize the impacts of the adoption of ASC 606 on our Consolidated Statements of Operations and Comprehensive Income for the year ended December 31, 2016: Consolidated Statements of Operations Year ended December 31, 2016 As previously reported Adoption of ASC 606 As adjusted (in millions, except per share data) EUR EUR EUR Net system sales 4,672.0 46.9 4,718.9 Net service and field option sales 2,122.8 33.4 2,156.2 Total net sales 6,794.8 80.3 6,875.1 Cost of system sales (2,468.2 ) 44.3 (2,423.9 ) Cost of service and field option sales (1,282.1 ) (23.8 ) (1,305.9 ) Total cost of sales (3,750.3 ) 20.5 (3,729.8 ) Gross profit 3,044.5 100.8 3,145.3 Other income 93.8 — 93.8 Research and development costs (1,105.8 ) — (1,105.8 ) Selling, general and administrative costs (374.8 ) — (374.8 ) Income from operations 1,657.7 100.8 1,758.5 Interest and other, net 33.7 — 33.7 Income before income taxes 1,691.4 100.8 1,792.2 Provision for income taxes (219.5 ) (14.9 ) (234.4 ) Income after income taxes 1,471.9 85.9 1,557.8 Profit (loss) related to equity method investments — — — Net income 1,471.9 85.9 1,557.8 Basic net income per ordinary share 3.46 3.66 Diluted net income per ordinary share 3.44 3.64 Number of ordinary shares used in computing per share amounts Basic 425.6 425.6 Diluted 427.7 427.7 Consolidated Statements of Comprehensive Income Year ended December 31, 2016 As previously reported Adoption of ASC 606 As adjusted (in millions) EUR EUR EUR Net income 1,471.9 85.9 1,557.8 Other comprehensive income: Proportionate share of other comprehensive income from equity method investments — — — Foreign currency translation, net of taxes: Gain (loss) on foreign currency translation and effective portion of hedges on net investments 120.4 — 120.4 Financial instruments, net of taxes: Gain (loss) on derivative financial instruments 6.0 — 6.0 Transfers to net income 2.4 — 2.4 Other comprehensive income, net of taxes 128.8 — 128.8 Total comprehensive income, net of taxes 1,600.7 85.9 1,686.6 Attributable to equity holders 1,600.7 85.9 1,686.6 The following table summarizes the impacts of the adoption of ASC 606 on our Consolidated Balance Sheets as of December 31, 2016: Consolidated Balance Sheets As of December 31, 2016 As previously reported Adoption of ASC 606 As adjusted (in millions, except share and per share data) EUR EUR EUR Assets Cash and cash equivalents 2,906.9 — 2,906.9 Short-term investments 1,150.0 — 1,150.0 Accounts receivable, net 700.2 (26.0 ) 674.2 Finance receivables, net 447.4 — 447.4 Current tax assets 11.6 — 11.6 Contract assets — 91.6 91.6 Inventories, net 2,780.9 (49.1 ) 2,731.8 Deferred tax assets — — — Other assets 560.4 (62.8 ) 497.6 Total current assets 8,557.4 (46.3 ) 8,511.1 Finance receivables, net 117.2 (61.3 ) 55.9 Deferred tax assets 34.9 — 34.9 Contract assets — 56.7 56.7 Other assets 612.3 — 612.3 Equity method investments — — — Goodwill 4,873.9 — 4,873.9 Other intangible assets, net 1,323.0 — 1,323.0 Property, plant and equipment, net 1,687.2 — 1,687.2 Right-of-use assets — — — Total non-current assets 8,648.5 (4.6 ) 8,643.9 Total assets 17,205.9 (50.9 ) 17,155.0 Liabilities and shareholders’ equity Accounts payable 593.2 — 593.2 Accrued and other liabilities 2,237.8 (1,590.8 ) 647.0 Current tax liabilities 201.9 — 201.9 Current portion of long-term debt 247.7 — 247.7 Contract liabilities — 1,386.4 1,386.4 Total current liabilities 3,280.6 (204.4 ) 3,076.2 Long-term debt 3,071.8 — 3,071.8 Deferred and other tax liabilities 396.9 14.0 410.9 Provisions 20.5 — 20.5 Contract liabilities — 447.4 447.4 Accrued and other liabilities 615.7 (459.9 ) 155.8 Total non-current liabilities 4,104.9 1.5 4,106.4 Total liabilities 7,385.5 (202.9 ) 7,182.6 Issued and outstanding shares 39.4 — 39.4 Share premium 3,693.5 — 3,693.5 Treasury shares at cost (796.2 ) — (796.2 ) Retained earnings 4,810.6 66.1 4,876.7 Earnings current year 1,471.9 85.9 1,557.8 Accumulated other comprehensive income 601.2 — 601.2 Total shareholders’ equity 9,820.4 152.0 9,972.4 Total liabilities and shareholders’ equity 17,205.9 (50.9 ) 17,155.0 The following tables summarize the impacts of the adoption of ASC 606 on our Consolidated Statements of Cash Flows for the year ended December 31, 2016: Consolidated Statements of Cash Flows Year ended December 31, 2016 As previously reported Adoption of ASC 606 As adjusted (in millions) EUR EUR EUR Cash Flows from Operating Activities Net income 1,471.9 85.9 1,557.8 Adjustments to reconcile net income to net cash flows from operating activities: Depreciation and amortization 356.9 — 356.9 Impairment 3.5 — 3.5 Loss on disposal of property, plant and equipment 5.2 — 5.2 Share-based payments 47.7 — 47.7 Allowance for doubtful receivables 3.2 — 3.2 Allowance for obsolete inventory 73.0 — 73.0 Deferred income taxes (0.6 ) 14.0 13.4 Equity method investments, net of income taxes — — — Changes in assets and liabilities: Accounts receivable 187.4 26.0 213.4 Finance receivables (156.1 ) 61.3 (94.8 ) Inventories (43.7 ) 49.1 5.4 Other assets (152.9 ) 62.8 (90.1 ) Accrued and other liabilities (273.9 ) 246.9 (27.0 ) Accounts payable 50.9 — 50.9 Current tax assets and liabilities 93.4 — 93.4 Contract assets and liabilities — (546.0 ) (546.0 ) Net cash provided by operating activities 1,665.9 — 1,665.9 Cash Flows from Investing Activities Purchase of property, plant and equipment (316.3 ) — (316.3 ) Purchase of intangible assets (8.4 ) — (8.4 ) Purchase of short-term investments (2,520.0 ) — (2,520.0 ) Maturity of short-term investments 2,320.0 — 2,320.0 Cash from (used for) derivative financial instruments (15.0 ) — (15.0 ) Loans issued and other investments — — — Repayment on loans (7.4 ) — (7.4 ) Acquisition of equity method investments — — — Dividend income from equity method investments — — — Acquisition of subsidiaries (net of cash acquired) (2,641.3 ) — (2,641.3 ) Net cash used in investing activities (3,188.4 ) — (3,188.4 ) Cash Flows from Financing Activities Dividend paid (445.9 ) — (445.9 ) Purchase of treasury shares (400.0 ) — (400.0 ) Net proceeds from issuance of shares 582.7 — 582.7 Net proceeds from issuance of notes 2,230.6 — 2,230.6 Repayment of debt (4.7 ) — (4.7 ) Tax benefit (deficit) from share-based payments 0.9 — 0.9 Net cash used in financing activities 1,963.6 — 1,963.6 Net cash flows 441.1 — 441.1 Effect of changes in exchange rates on cash 7.1 — 7.1 Net increase (decrease) in cash and cash equivalents 448.2 — 448.2 Cash and cash equivalents at beginning of the year 2,458.7 — 2,458.7 Cash and cash equivalents at end of the year 2,906.9 — 2,906.9 |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Adoption of ASC 606 "Revenue from Contracts with Customers" In March 2014, the FASB issued ASU No. 2014-9 "Revenue From Contracts With Customers". The standard is a joint project of the FASB and the IASB, to clarify the principles for recognizing revenue and to develop a common revenue standard for US GAAP and IFRS that would: • Remove inconsistencies and weaknesses in previous revenue requirements; • Provide a more robust framework for addressing revenue issues; • Improve comparability of revenue recognition practices across entities, industries, jurisdictions and capital markets; • Provide more useful information to users of financial statements through improved disclosure requirements; and • Simplify the preparation of financial statements by reducing the number of requirements to which an entity must refer. We have closely assessed the impact of adopting ASC 606 on our Consolidated Financial Statements by assessing all contracts that have an impact on net system sales and net service and field option sales over 2017 and 2016 . We have finalized our assessment of all contracts based on which we have adopted ASC 606 "Revenue from Contracts with Customers" with a date of the initial application of January 1, 2018. We have selected full retrospective adoption and therefore have restated all years presented in our Consolidated Financial Statements upon adoption. As a result, we have changed our accounting policy for revenue recognition as detailed below. We applied ASC 606 for the years ended December 31, 2016 and 2017 retrospectively using the practical expedients in paragraph ASC 606-10-65-1(f) , under which we: • Do not restate contracts that begin and are completed in the same annual or semi-annual reporting period; • Used the transaction price at the date the contract was completed rather than estimating variable consideration amounts in the comparative reporting periods; • Do not disclose the amount of consideration allocated to the remaining performance obligations or an explanation of when we expect to recognize that amount as revenue for all reporting periods presented before the date of the initial application - i.e. January 1, 2018; and • Reflect the aggregate effect of all modifications that occurred before January 1, 2016 when identifying the performance obligations, determining the transaction price and allocating the transaction price to the satisfied and unsatisfied performance obligations. Applying these practical expedients does not have a significant impact on our adjusted annual financial results as the impact is limited to certain shifts of revenue recognition between periods due to not using the hindsight allowed by these practical expedients. The details of the significant changes and quantitative impact of the changes are disclosed below: A. Allocation of consideration based on stand-alone selling price We changed from allocating the consideration of a contract to the elements of the contract using the relative selling price determined through VSOE or BESP in accordance with ASC 605 to allocating the consideration of a contract based on stand-alone selling prices determined using the adjusted market assessment approach in accordance with ASC 606 . As a result, we consider customer discounts and credits, within volume purchase agreements, a reduction of the transaction price. Consequently, we allocate these customer discounts and credits ratably to the performance obligations based on the stand-alone selling prices. As we have very limited sales on a stand-alone basis we have to make estimates to determine our stand-alone selling prices. For this we selected the adjusted market assessment approach. This estimate requires our judgment as we mainly enter into bundled arrangements and we sell specialized goods and services. Furthermore, we have no insight into the stand-alone selling prices of our competitors for comparable products and services. Therefore, we considered our pricing policies and practices, which are based on the value we provide to our customers. Our internal pricing policies result in a list price, which is for the majority of products only determined and set when the products or services are introduced. We conclude that these list prices generally do not reflect the stand-alone selling prices over the lifetime of the related product or services. To determine the stand-alone selling prices for our products and services we used data of bundled arrangements over the last one to three years and derived the price for which each system model would be sold, on a stand-alone basis, from this data. We used the same relative step-down from the list price for options and services that are sold together with the system. For other services we used list prices, as these contracts typically have duration of one year and prices are updated periodically. For options that are not sold as part of a system for systems already installed at the customer, we used the contract data over the last three years and derived the price for which these options would be sold, on a stand-alone basis, from this data. B. Field upgrades Transfer of control of field upgrades and options, that require significant installation efforts, was previously upon customer acceptance of the upgraded system. The new over-time revenue recognition requirement, in ASC 606-10-25-27 regarding performance that enhances an asset the customer controls, results in revenue for these field upgrades and options to be recognized over time during the period of installation. C. Installation Installation revenue was previously recognized upon completion and customer acceptance. It has been determined, in accordance with ASC 606-10-25-27 , that the customer simultaneously consumes and receives the benefits provided by the performance of the installation. As a result, transfer of control takes place over the period of installation from delivery through customer acceptance, measured on a straight-line basis, as our performance is satisfied evenly over this period of time. D. Applications projects and Field projects (relocations) Applications and Field project revenue was previously recognized upon completion and customer acceptance. It has been determined, in accordance with ASC 606-10-25-27 , that the customer simultaneously consumes and receives the benefits provided by the performance of our services. As a result, the transfer of control occurs throughout the service period. E. Bill-and-hold transactions Previously, in order to recognize revenue for a bill-and-hold transaction, we required a fixed schedule of delivery, as well as the buyer must have had a substantial business purpose for requesting the bill-and-hold transaction , in combination with the other requirements of SAB Topic 13. In accordance with ASC 606-10-55-83, we no longer require a fixed scheduled delivery and a customer’s explicit request. F. Options to buy as a material right Options to buy goods or services, in addition to the purchase commitment, were previously not assessed as a separate element. These options are now assessed in order to determine if they provide a material right to the customer they would not have received if they had not entered into the contract. Each option to buy additional goods or services provided at a discount from the stand-alone selling price is considered a material right and will be recognized as revenues in accordance with ASC 606-10-55-42. G. Contract assets and liabilities The contract assets primarily relate to our rights to a consideration for goods or services delivered but not invoiced at the reporting date. The contract assets are transferred to receivables when invoiced and the rights become unconditional. The contract liabilities primarily relate to down payments, received on systems to be delivered, as well as deferred revenue from system shipments, based on the allocation of the consideration to the related performance obligations in the contract. This balance mainly consists of extended warranties, installation and other free goods or services provided as part of a volume purchase agreement. The majority of our customer contracts contain both asset and liability positions. At the end of each reporting period, these positions are netted on a contract basis and presented as either an asset or a liability in the financial statements. Consequently, a contract balance can change between periods from a net contract asset balance to a net contract liability balance on the balance sheet. The following tables summarize the impacts of the adoption of ASC 606 on our Consolidated Statements of Operations and Comprehensive Income for the year ended December 31, 2017: Consolidated Statements of Operations Year ended December 31, 2017 As previously reported Adoption of ASC 606 As adjusted (in millions, except per share data) EUR EUR EUR Net system sales 6,373.7 50.7 6,424.4 Net service and field option sales 2,679.1 (140.8 ) 2,538.3 Total net sales 9,052.8 (90.1 ) 8,962.7 Cost of system sales (3,459.0 ) 19.1 (3,439.9 ) Cost of service and field option sales (1,517.1 ) 14.5 (1,502.6 ) Total cost of sales (4,976.1 ) 33.6 (4,942.5 ) Gross profit 4,076.7 (56.5 ) 4,020.2 Other income 95.8 — 95.8 Research and development costs (1,259.7 ) — (1,259.7 ) Selling, general and administrative costs (416.6 ) — (416.6 ) Income from operations 2,496.2 (56.5 ) 2,439.7 Interest and other, net (50.3 ) — (50.3 ) Income before income taxes 2,445.9 (56.5 ) 2,389.4 Provision for income taxes (310.7 ) 4.7 (306.0 ) Income after income taxes 2,135.2 (51.8 ) 2,083.4 Profit (loss) related to equity method investments (16.7 ) — (16.7 ) Net income 2,118.5 (51.8 ) 2,066.7 Basic net income per ordinary share 4.93 4.81 Diluted net income per ordinary share 4.91 4.79 Number of ordinary shares used in computing per share amounts Basic 429.8 429.8 Diluted 431.6 431.6 Consolidated Statements of Comprehensive Income Year ended December 31, 2017 As previously reported Adoption of ASC 606 As adjusted (in millions) EUR EUR EUR Net income 2,118.5 (51.8 ) 2,066.7 Other comprehensive income: Proportionate share of other comprehensive income from equity method investments (1.0 ) — (1.0 ) Foreign currency translation, net of taxes: Gain (loss) on foreign currency translation and effective portion of hedges on net investments (329.0 ) — (329.0 ) Financial instruments, net of taxes: Gain (loss) on derivative financial instruments (16.6 ) — (16.6 ) Transfers to net income (3.1 ) — (3.1 ) Other comprehensive income, net of taxes (349.7 ) — (349.7 ) Total comprehensive income, net of taxes 1,768.8 (51.8 ) 1,717.0 Attributable to equity holders 1,768.8 (51.8 ) 1,717.0 The following table summarizes the impacts of the adoption of ASC 606 on our Consolidated Balance Sheets as of December 31, 2017: Consolidated Balance Sheets As of December 31, 2017 As previously reported Adoption of ASC 606 As adjusted (in millions, except share and per share data) EUR EUR EUR Assets Cash and cash equivalents 2,259.0 — 2,259.0 Short-term investments 1,029.3 — 1,029.3 Accounts receivable, net 1,772.3 (32.0 ) 1,740.3 Finance receivables, net 59.1 — 59.1 Current tax assets 61.6 — 61.6 Contract assets — 270.4 270.4 Inventories, net 2,958.4 (2.8 ) 2,955.6 Other assets 867.3 (356.8 ) 510.5 Total current assets 9,007.0 (121.2 ) 8,885.8 Finance receivables, net 264.9 — 264.9 Deferred tax assets 31.7 — 31.7 Other assets 602.7 — 602.7 Equity method investments 982.2 — 982.2 Goodwill 4,541.1 — 4,541.1 Other intangible assets, net 1,166.0 — 1,166.0 Property, plant and equipment, net 1,600.8 — 1,600.8 Right-of-use assets — — — Total non-current assets 9,189.4 — 9,189.4 Total assets 18,196.4 (121.2 ) 18,075.2 Liabilities and shareholders’ equity Accounts payable 837.3 — 837.3 Accrued and other liabilities 2,327.4 (1,734.6 ) 592.8 Current tax liabilities 152.0 — 152.0 Current portion of long-term debt 25.2 — 25.2 Contract liabilities — 1,530.0 1,530.0 Total current liabilities 3,341.9 (204.6 ) 3,137.3 Long-term debt 3,000.1 — 3,000.1 Deferred and other tax liabilities 327.9 13.2 341.1 Contract liabilities — 622.0 622.0 Accrued and other liabilities 850.3 (652.0 ) 198.3 Total non-current liabilities 4,178.3 (16.8 ) 4,161.5 Total liabilities 7,520.2 (221.4 ) 7,298.8 Issued and outstanding shares 38.8 — 38.8 Share premium 3,732.5 — 3,732.5 Treasury shares at cost (557.9 ) — (557.9 ) Retained earnings 5,092.8 152.0 5,244.8 Earnings current year 2,118.5 (51.8 ) 2,066.7 Accumulated other comprehensive income 251.5 — 251.5 Total shareholders’ equity 10,676.2 100.2 10,776.4 Total liabilities and shareholders’ equity 18,196.4 (121.2 ) 18,075.2 The following tables summarize the impacts of the adoption of ASC 606 on our Consolidated Statements of Cash Flows for the for the year ended December 31, 2017: Consolidated Statements of Cash Flows Year ended December 31, 2017 As previously reported Adoption of ASC 606 As adjusted (in millions) EUR EUR EUR Cash Flows from Operating Activities Net income 2,118.5 (51.8 ) 2,066.7 Adjustments to reconcile net income to net cash flows from operating activities: Depreciation and amortization 417.5 — 417.5 Impairment 9.0 — 9.0 Loss on disposal of property, plant and equipment 2.8 — 2.8 Share-based payments 53.1 — 53.1 Allowance for doubtful receivables 7.8 — 7.8 Allowance for obsolete inventory 120.1 — 120.1 Deferred income taxes (7.6 ) (0.8 ) (8.4 ) Equity method investments, net of income taxes 16.7 — 16.7 Changes in assets and liabilities: Accounts receivable (1,142.4 ) 6.0 (1,136.4 ) Finance receivables 224.8 (61.3 ) 163.5 Inventories (237.8 ) (46.3 ) (284.1 ) Other assets (389.8 ) 294.0 (95.8 ) Accrued and other liabilities 491.2 (400.3 ) 90.9 Accounts payable 266.5 — 266.5 Current tax assets and liabilities (151.8 ) — (151.8 ) Contract assets and liabilities — 260.5 260.5 Net cash provided by operating activities 1,798.6 — 1,798.6 Cash Flows from Investing Activities Purchase of property, plant and equipment (338.9 ) — (338.9 ) Purchase of intangible assets (19.1 ) — (19.1 ) Purchase of short-term investments (1,129.3 ) — (1,129.3 ) Maturity of short-term investments 1,250.0 — 1,250.0 Cash from (used for) derivative financial instruments 27.0 — 27.0 Loans issued and other investments (0.6 ) — (0.6 ) Repayment on loans 1.6 — 1.6 Acquisition of equity method investments (1,019.7 ) — (1,019.7 ) Dividend income from equity method investments 19.7 — 19.7 Acquisition of subsidiaries (net of cash acquired) — — — Net cash used in investing activities (1,209.3 ) — (1,209.3 ) Cash Flows from Financing Activities Dividend paid (516.7 ) — (516.7 ) Purchase of treasury shares (500.0 ) — (500.0 ) Net proceeds from issuance of shares 50.6 — 50.6 Net proceeds from issuance of notes — — — Repayment of debt (243.0 ) — (243.0 ) Tax benefit (deficit) from share-based payments — — — Net cash used in financing activities (1,209.1 ) — (1,209.1 ) Net cash flows (619.8 ) — (619.8 ) Effect of changes in exchange rates on cash (28.1 ) — (28.1 ) Net increase (decrease) in cash and cash equivalents (647.9 ) — (647.9 ) Cash and cash equivalents at beginning of the year 2,906.9 — 2,906.9 Cash and cash equivalents at end of the year 2,259.0 — 2,259.0 The following tables summarize the impacts of the adoption of ASC 606 on our Consolidated Statements of Operations and Comprehensive Income for the year ended December 31, 2016: Consolidated Statements of Operations Year ended December 31, 2016 As previously reported Adoption of ASC 606 As adjusted (in millions, except per share data) EUR EUR EUR Net system sales 4,672.0 46.9 4,718.9 Net service and field option sales 2,122.8 33.4 2,156.2 Total net sales 6,794.8 80.3 6,875.1 Cost of system sales (2,468.2 ) 44.3 (2,423.9 ) Cost of service and field option sales (1,282.1 ) (23.8 ) (1,305.9 ) Total cost of sales (3,750.3 ) 20.5 (3,729.8 ) Gross profit 3,044.5 100.8 3,145.3 Other income 93.8 — 93.8 Research and development costs (1,105.8 ) — (1,105.8 ) Selling, general and administrative costs (374.8 ) — (374.8 ) Income from operations 1,657.7 100.8 1,758.5 Interest and other, net 33.7 — 33.7 Income before income taxes 1,691.4 100.8 1,792.2 Provision for income taxes (219.5 ) (14.9 ) (234.4 ) Income after income taxes 1,471.9 85.9 1,557.8 Profit (loss) related to equity method investments — — — Net income 1,471.9 85.9 1,557.8 Basic net income per ordinary share 3.46 3.66 Diluted net income per ordinary share 3.44 3.64 Number of ordinary shares used in computing per share amounts Basic 425.6 425.6 Diluted 427.7 427.7 Consolidated Statements of Comprehensive Income Year ended December 31, 2016 As previously reported Adoption of ASC 606 As adjusted (in millions) EUR EUR EUR Net income 1,471.9 85.9 1,557.8 Other comprehensive income: Proportionate share of other comprehensive income from equity method investments — — — Foreign currency translation, net of taxes: Gain (loss) on foreign currency translation and effective portion of hedges on net investments 120.4 — 120.4 Financial instruments, net of taxes: Gain (loss) on derivative financial instruments 6.0 — 6.0 Transfers to net income 2.4 — 2.4 Other comprehensive income, net of taxes 128.8 — 128.8 Total comprehensive income, net of taxes 1,600.7 85.9 1,686.6 Attributable to equity holders 1,600.7 85.9 1,686.6 The following table summarizes the impacts of the adoption of ASC 606 on our Consolidated Balance Sheets as of December 31, 2016: Consolidated Balance Sheets As of December 31, 2016 As previously reported Adoption of ASC 606 As adjusted (in millions, except share and per share data) EUR EUR EUR Assets Cash and cash equivalents 2,906.9 — 2,906.9 Short-term investments 1,150.0 — 1,150.0 Accounts receivable, net 700.2 (26.0 ) 674.2 Finance receivables, net 447.4 — 447.4 Current tax assets 11.6 — 11.6 Contract assets — 91.6 91.6 Inventories, net 2,780.9 (49.1 ) 2,731.8 Deferred tax assets — — — Other assets 560.4 (62.8 ) 497.6 Total current assets 8,557.4 (46.3 ) 8,511.1 Finance receivables, net 117.2 (61.3 ) 55.9 Deferred tax assets 34.9 — 34.9 Contract assets — 56.7 56.7 Other assets 612.3 — 612.3 Equity method investments — — — Goodwill 4,873.9 — 4,873.9 Other intangible assets, net 1,323.0 — 1,323.0 Property, plant and equipment, net 1,687.2 — 1,687.2 Right-of-use assets — — — Total non-current assets 8,648.5 (4.6 ) 8,643.9 Total assets 17,205.9 (50.9 ) 17,155.0 Liabilities and shareholders’ equity Accounts payable 593.2 — 593.2 Accrued and other liabilities 2,237.8 (1,590.8 ) 647.0 Current tax liabilities 201.9 — 201.9 Current portion of long-term debt 247.7 — 247.7 Contract liabilities — 1,386.4 1,386.4 Total current liabilities 3,280.6 (204.4 ) 3,076.2 Long-term debt 3,071.8 — 3,071.8 Deferred and other tax liabilities 396.9 14.0 410.9 Provisions 20.5 — 20.5 Contract liabilities — 447.4 447.4 Accrued and other liabilities 615.7 (459.9 ) 155.8 Total non-current liabilities 4,104.9 1.5 4,106.4 Total liabilities 7,385.5 (202.9 ) 7,182.6 Issued and outstanding shares 39.4 — 39.4 Share premium 3,693.5 — 3,693.5 Treasury shares at cost (796.2 ) — (796.2 ) Retained earnings 4,810.6 66.1 4,876.7 Earnings current year 1,471.9 85.9 1,557.8 Accumulated other comprehensive income 601.2 — 601.2 Total shareholders’ equity 9,820.4 152.0 9,972.4 Total liabilities and shareholders’ equity 17,205.9 (50.9 ) 17,155.0 The following tables summarize the impacts of the adoption of ASC 606 on our Consolidated Statements of Cash Flows for the year ended December 31, 2016: Consolidated Statements of Cash Flows Year ended December 31, 2016 As previously reported Adoption of ASC 606 As adjusted (in millions) EUR EUR EUR Cash Flows from Operating Activities Net income 1,471.9 85.9 1,557.8 Adjustments to reconcile net income to net cash flows from operating activities: Depreciation and amortization 356.9 — 356.9 Impairment 3.5 — 3.5 Loss on disposal of property, plant and equipment 5.2 — 5.2 Share-based payments 47.7 — 47.7 Allowance for doubtful receivables 3.2 — 3.2 Allowance for obsolete inventory 73.0 — 73.0 Deferred income taxes (0.6 ) 14.0 13.4 Equity method investments, net of income taxes — — — Changes in assets and liabilities: Accounts receivable 187.4 26.0 213.4 Finance receivables (156.1 ) 61.3 (94.8 ) Inventories (43.7 ) 49.1 5.4 Other assets (152.9 ) 62.8 (90.1 ) Accrued and other liabilities (273.9 ) 246.9 (27.0 ) Accounts payable 50.9 — 50.9 Current tax assets and liabilities 93.4 — 93.4 Contract assets and liabilities — (546.0 ) (546.0 ) Net cash provided by operating activities 1,665.9 — 1,665.9 Cash Flows from Investing Activities Purchase of property, plant and equipment (316.3 ) — (316.3 ) Purchase of intangible assets (8.4 ) — (8.4 ) Purchase of short-term investments (2,520.0 ) — (2,520.0 ) Maturity of short-term investments 2,320.0 — 2,320.0 Cash from (used for) derivative financial instruments (15.0 ) — (15.0 ) Loans issued and other investments — — — Repayment on loans (7.4 ) — (7.4 ) Acquisition of equity method investments — — — Dividend income from equity method investments — — — Acquisition of subsidiaries (net of cash acquired) (2,641.3 ) — (2,641.3 ) Net cash used in investing activities (3,188.4 ) — (3,188.4 ) Cash Flows from Financing Activities Dividend paid (445.9 ) — (445.9 ) Purchase of treasury shares (400.0 ) — (400.0 ) Net proceeds from issuance of shares 582.7 — 582.7 Net proceeds from issuance of notes 2,230.6 — 2,230.6 Repayment of debt (4.7 ) — (4.7 ) Tax benefit (deficit) from share-based payments 0.9 — 0.9 Net cash used in financing activities 1,963.6 — 1,963.6 Net cash flows 441.1 — 441.1 Effect of changes in exchange rates on cash 7.1 — 7.1 Net increase (decrease) in cash and cash equivalents 448.2 — 448.2 Cash and cash equivalents at beginning of the year 2,458.7 — 2,458.7 Cash and cash equivalents at end of the year 2,906.9 — 2,906.9 Adoption of ASC 842 "Leases" As of January 1, 2018, ASML has early adopted ASC 842 "Leases". We applied a modified retrospective adoption and therefore restated 2016 and 2017. The most significant changes in our accounting policy (compared to ASC 840 "Leases") are the recognition of right-of-use assets and lease liabilities for operating leases and the classification of leases from a lessor perspective. As of December 31, 2016 and 2017, our impact resulting from operating leases is as follows: • We have recognized right-of-use assets and lease liabilities of EUR 131 million and EUR 114 million , respectively. • The short term portion of the lease liabilities of EUR 28 million and EUR 33 million , respectively, has been classified as accrued and other liabilities - current. • The long term portion of the lease liabilities of EUR 103 million and EUR 81 million , respectively, has been included in the accrued and other liabilities - non-current. As of December 31, 2016 and 2017, we reclassified our non-current accounts receivable of EUR 32 million and EUR 106 million , respectively, from finance receivables to other assets - non-current in order to present our sales-type leases separate on our balance sheet within finance receivables. We elected the following practical expedients as a package and applied these consistently to all of our leases (including those for which we are a lessee or a lessor): • We did not reassess whether any expired or existing contracts are or contain leases. • We did not reassess the lease classification for any expired or existing leases (that is, all existing leases that were classified as operating leases in accordance with ASC 840 have been classified as operating leases, and all existing leases that were classified as capital leases in accordance with ASC 840 have been classified as finance leases). • We excluded initial direct costs for any existing leases. Adoption of ASU 2016-16 Income Taxes: "Intra-Entity Transfers of Assets Other Than Inventory" As of January 1, 2018, ASML adopted ASU 2016-16 Income taxes: "Intra-entity transfers of assets other than inventory". We applied a modified retrospective adoption with a cumulative effect adjustment to Retained earnings as of January 1, 2018. The most significant change in our accounting policy is that prepaid taxes as calculated using the purchaser’s rather than the seller’s tax jurisdiction (except for prepaid taxes arising from intra-entity transfers of inventory). As of January 1, 2018, retained earnings decreased with EUR 85 million and other assets decreased with EUR 157 million whereas Deferred tax assets increased with EUR 72 million . This impact mainly relates to a so-called bi-lateral advanced pricing agreement between the US and the Dutch tax authorities on a inter group transfer of intellectual property rights. Adoption of ASU 2017-04 "Simplifying the Test for Goodwill Impairment" As of January 1, 2018, ASML adopted ASU 2017-04 "Simplifying the Test for Goodwill Impairment". This accounting standard update removes Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. The guidance provides that a goodwill impairment is the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. All other goodwill impairment guidance remains largely unchanged. |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Financial Assets and Financial Liabilities Measured at Fair Value on Recurring Basis | The following tables present our financial assets and financial liabilities that are measured at fair value on a recurring basis: As of December 31, 2018 Level 1 Level 2 Level 3 Total (in millions) EUR EUR EUR EUR Assets measured at fair value Derivative financial instruments 1 — 101.9 — 101.9 Money market funds 2 2,342.6 — — 2,342.6 Short-term investments 3 — 913.3 — 913.3 Total 2,342.6 1,015.2 — 3,357.8 Liabilities measured at fair value Derivative financial instruments 1 — 47.4 — 47.4 Assets and Liabilities for which fair values are disclosed Long-term debt 4 3,119.4 — — 3,119.4 1. Derivative financial instruments consist of forward foreign exchange contracts and interest rate swaps. See Note 4 Financial risk management . 2. Money market funds are part of our cash and cash equivalents. See Note 5 Cash and cash equivalents and short-term investments . 3. Short-term investments consist of deposits with a remaining maturity longer than three months, but less than one year at the date of acquisition. See Note 5 Cash and cash equivalents and short-term investments . 4. Long-term debt relates to Eurobonds. See Note 16 Long-term debt . As of December 31, 2017 Level 1 Level 2 Level 3 Total (in millions) EUR EUR EUR EUR Assets measured at fair value Derivative financial instruments 1 — 115.7 — 115.7 Money market funds 2 1,329.4 — — 1,329.4 Short-term investments 3 — 1,029.3 — 1,029.3 Total 1,329.4 1,145.0 — 2,474.4 Liabilities measured at fair value Derivative financial instruments 1 — 67.3 — 67.3 Assets and Liabilities for which fair values are disclosed Long-term debt 4 3,193.2 — — 3,193.2 1. Derivative financial instruments consist of forward foreign exchange contracts and interest rate swaps. See Note 4 Financial risk management . 2. Money market funds are part of our cash and cash equivalents. See Note 5 Cash and cash equivalents and short-term investments . 3. Short-term investments consist of deposits with a remaining maturity longer than three months, but less than one year at the date of acquisition. See Note 5 Cash and cash equivalents and short-term investments . 4. Long-term debt relates to Eurobonds. See Note 16 Long-term debt . |
Financial Risk Management (Tabl
Financial Risk Management (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Foreign Currency Fair Value Hedge Derivative [Line Items] | |
Summary of Notional Amounts and Estimated Fair Values of Financial Instruments | The following table summarizes the notional amounts and estimated fair values of our derivative financial instruments: As of December 31 2017 2018 (in millions) Notional amount EUR Fair Value EUR Notional amount EUR Fair Value EUR Forward foreign exchange contracts 1,146.2 18.1 134.1 (2.0 ) Interest rate swaps 3,024.9 30.3 3,000.0 56.5 |
Derivative Financial Instruments Per Category | The following table summarizes our derivative financial instruments per category: As of December 31 2017 2018 (in millions) Assets EUR Liabilities EUR Assets EUR Liabilities EUR Interest rate swaps — cash flow hedges — 0.6 — — Interest rate swaps — fair value hedges 93.6 62.7 88.5 32.0 Forward foreign exchange contracts — cash flow hedges 0.7 2.6 6.5 0.9 Forward foreign exchange contracts — net investment hedge 1.2 1.2 — 2.6 Forward foreign exchange contracts — no hedge accounting 20.2 0.2 6.9 11.9 Total 115.7 67.3 101.9 47.4 Less non-current portion: Interest rate swaps — fair value hedges 65.2 62.7 59.7 32.0 Total non-current portion 65.2 62.7 59.7 32.0 Total current portion 50.5 4.6 42.2 15.4 |
Schedule of Foreign Currency Sensitivity [Table Text Block] | Foreign currency sensitivity We are mainly exposed to fluctuations in exchange rates between the euro and the US dollar, the euro and Taiwanese dollar and the euro and the Japanese yen. The following table details our sensitivity to a 10.0 percent strengthening of foreign currencies against the euro. The sensitivity analysis includes foreign currency denominated monetary items outstanding and adjusts their translation at the period end for a 10.0 percent strengthening in foreign currency rates. A positive amount indicates an increase in net income or equity, as shown. 2017 2018 (in millions) Impact on net income EUR Impact on equity EUR Impact on net income EUR Impact on equity EUR US dollar (6.5 ) 15.6 (8.7 ) 28.2 Japanese yen (1.8 ) 0.9 (1.7 ) (4.0 ) Taiwanese dollar (5.3 ) (22.3 ) (6.5 ) (12.7 ) Other currencies (3.4 ) — (5.9 ) — Total (17.0 ) (5.8 ) (22.8 ) 11.5 |
Schedule of Interest Rate Sensitivity [Table Text Block] | Interest rate sensitivity The sensitivity analysis below has been determined based on the exposure to interest rates for both derivative financial and non-derivative financial instruments at the balance sheet date with the stipulated change taking place at the beginning of the financial year and held constant throughout the reporting period. The table below shows the effect of a 1.0 percentage point increase in interest rates on our net income and equity. A positive amount indicates an increase in net income and equity. 2017 2018 (in millions) Impact on net income EUR Impact on equity EUR Impact on net income EUR Impact on equity EUR Effect of a 1.0 percent point increase in interest rates 2.6 0.1 10.3 — |
Accounts Receivable (Tables)
Accounts Receivable (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Receivables [Abstract] | |
Accounts Receivable | Accounts receivable consist of the following: As of December 31 2017 1 2018 (in millions) EUR EUR Accounts receivable, gross 1,744.9 1,504.9 Allowance for doubtful receivables (4.6 ) (6.7 ) Accounts receivable, net 1,740.3 1,498.2 1. As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Finance Receivables (Tables)
Finance Receivables (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Receivables [Abstract] | |
Components of Finance Receivables | The following table lists the components of the finance receivables as of December 31, 2018 and 2017 : As of December 31 2017 1 2018 (in millions) EUR EUR Finance receivables, gross 225.1 893.7 Unearned interest (6.6 ) (7.5 ) Finance receivables, net 218.5 886.2 Current portion of finance receivables, gross 62.1 613.3 Current portion of unearned interest (3.0 ) (2.2 ) Non-current portion of finance receivables, net 159.4 275.1 |
Finance Receivables Due for Payment | At December 31, 2018 , finance receivables, gross due f |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Inventory Disclosure [Abstract] | |
Inventories | Inventories consist of the following: As of December 31 2017 1 2018 (in millions) EUR EUR Raw materials 826.8 1,238.3 Work-in-process 1,430.7 1,537.5 Finished products 1,048.0 1,105.0 Inventories, gross 3,305.5 3,880.8 Provision to net realizable value (349.9 ) (441.3 ) Inventories, net 2,955.6 3,439.5 1. As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Allowance for Obsolescence and/or Lower Market Value | A summary of activity in the provision to net realizable value is as follows: Year ended December 31 2017 2018 (in millions) EUR EUR Balance at beginning of year (382.7 ) (349.9 ) Addition for the year (120.1 ) (218.2 ) Effect of changes in exchange rates 7.9 4.2 Utilization of the provision 145.0 122.6 Balance at end of year (349.9 ) (441.3 ) |
Other Assets (Tables)
Other Assets (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Other Assets [Abstract] | |
Other Current Assets | Other current assets consist of the following: As of December 31 2017 1 2018 (in millions) EUR EUR Advance payments to Carl Zeiss SMT GmbH 111.3 231.1 Prepaid expenses 198.4 299.6 Derivative financial instruments 50.5 42.2 VAT 67.3 116.0 Subordinated loan granted to lessor in respect of Veldhoven headquarters 2 5.4 — Other assets 77.6 83.7 Other current assets 510.5 772.6 1. As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. 2. For further details on the loan granted to the lessor in respect of the Veldhoven headquarters see Note 13 Property, plant and equipment . |
Other Non-Current Assets | Other non-current assets consist of the following: As of December 31 2017 1 2018 (in millions) EUR EUR Advance payments to Carl Zeiss SMT GmbH 331.5 533.4 Derivative financial instruments 65.2 59.7 Compensation plan assets 2 41.2 43.1 Prepaid expenses 140.4 4.6 Non-current accounts receivable 105.5 150.7 Other assets 24.4 14.6 Other non-current assets 708.2 806.1 1. As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. 2. For further details on compensation plan assets see Note 19 Employee benefits . |
Equity Method Investments Equ_2
Equity Method Investments Equity Method Investments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Schedule of Equity Method Investments [Line Items] | |
Equity Method Investments [Table Text Block] | as reflected in our Consolidated Balance Sheets , as well as our maximum exposure to losses as of December 31, 2018 . Our maximum exposure to loss is limited to our equity method investment in Carl Zeiss SMT Holding GmbH & Co. KG and prepayments provided to the equity method investment. As of December 31 2018 2018 Maximum exposure to loss (in millions) Assets Liabilities EUV Agreements 1 393.7 — 393.7 DUV Agreements 1 31.5 — 31.5 High NA Agreement 1 342.9 — 342.9 Investment agreement for 24.9 percent equity 915.8 — 915.8 1. Amounts are included in advanced payments to Carl Zeiss SMT GmbH within other current assets and other non-current assets. See Note 9 Other assets . The basis differences as of the acquisition date were allocated as follows: (in millions) EUR Equity method goodwill 362.7 Other intangible assets 560.7 In-process research and development 50.7 Inventories 73.7 Pensions 19.9 Deferred tax liabilities (88.4 ) Basis differences 979.3 |
Goodwill (Tables)
Goodwill (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill | Changes in goodwill are summarized as follows: Year ended December 31 2017 2018 (in millions) EUR EUR Cost Balance at beginning of year 4,873.9 4,541.1 Effect of changes in exchange rates (332.8 ) — Balance at end of year 4,541.1 4,541.1 |
Other Intangible Assets (Tables
Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Finite-Lived Other Intangible Assets | As of December 31, 2018 other intangible assets consist of finite-lived other intangible assets. Brands, intellectual property, developed technology, customer relationships and other were mainly obtained from the acquisitions of HMI (2016) and Cymer (2013). Finite-lived other intangible assets consist of the following: (in millions) Brands Intellectual Developed Customer Other Total Cost Balance at January 1, 2017 40.2 61.4 1,264.7 253.2 17.4 1,636.9 Additions — 0.5 — — 14.9 15.4 Effect of changes in exchange rates (2.0 ) — (64.8 ) (24.6 ) (0.1 ) (91.5 ) Balance at December 31, 2017 38.2 61.9 1,199.9 228.6 32.2 1,560.8 Additions — 5.0 — — 37.0 42.0 Disposals — — — — — — Effect of changes in exchange rates 1.0 2.0 — — (3.0 ) — Balance at December 31, 2018 39.2 68.9 1,199.9 228.6 66.2 1,602.8 Accumulated amortization Balance at January 1, 2017 3.2 57.9 199.1 50.0 3.7 313.9 Amortization 2.0 2.1 84.1 13.4 3.9 105.5 Impairment charges — — — — 0.1 0.1 Effect of changes in exchange rates (0.4 ) — (19.0 ) (5.6 ) 0.3 (24.7 ) Balance at December 31, 2017 4.8 60.0 264.2 57.8 8.0 394.8 Amortization 1.9 1.2 82.1 12.7 5.8 103.7 Disposals — — — — — — Effect of changes in exchange rates 0.7 1.6 0.2 — (2.2 ) 0.3 Balance at December 31, 2018 7.4 62.8 346.5 70.5 11.6 498.8 Carrying amount December 31, 2017 33.4 1.9 935.7 170.8 24.2 1,166.0 December 31, 2018 31.8 6.1 853.4 158.1 54.6 1,104.0 |
Future Amortization Expenses | As of December 31, 2018 , the estimated amortization expenses for other intangible assets, for the next 5 years and thereafter, are as follows: (in millions) EUR 2019 105.1 2020 104.5 2021 103.7 2022 100.7 2023 93.5 Thereafter 596.5 Amortization expenses 1,104.0 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment | Property, plant and equipment consist of the following: (in millions) Land and buildings EUR Machinery and equipment EUR Leasehold improvements EUR Furniture, fixtures and other equipment EUR Total EUR Cost Balance at January 1, 2017 1,556.6 1,133.1 254.2 359.0 3,302.9 Additions 115.2 173.3 6.9 24.9 320.3 Disposals (0.4 ) (105.3 ) (0.1 ) (3.5 ) (109.3 ) Effect of changes in exchange rates (29.6 ) (41.2 ) (4.4 ) (4.8 ) (80.0 ) Balance at December 31, 2017 1,641.8 1,159.9 256.6 375.6 3,433.9 Acquisitions through business combinations — — — — — Additions 119.6 256.2 21.5 44.6 441.9 Disposals (57.2 ) (114.7 ) (3.4 ) (4.9 ) (180.2 ) Effect of changes in exchange rates 5.6 3.7 0.5 0.9 10.7 Balance at December 31, 2018 1,709.8 1,305.1 275.2 416.2 3,706.3 Accumulated depreciation and impairment Balance at January 1, 2017 474.6 642.9 224.8 273.4 1,615.7 Depreciation 87.9 172.3 21.5 26.5 308.2 Impairment charges 0.2 8.7 — — 8.9 Disposals (0.2 ) (57.1 ) (0.1 ) (3.3 ) (60.7 ) Effect of changes in exchange rates (9.8 ) (24.4 ) (1.7 ) (3.1 ) (39.0 ) Balance at December 31, 2017 552.7 742.4 244.5 293.5 1,833.1 Depreciation 92.8 174.8 19.2 28.6 315.4 Impairment charges 1.0 14.4 — — 15.4 Disposals (2.5 ) (41.1 ) (3.0 ) (4.5 ) (51.1 ) Effect of changes in exchange rates 2.0 1.5 0.2 0.3 4.0 Balance at December 31, 2018 646.0 892.0 260.9 317.9 2,116.8 Carrying amount December 31, 2017 1,089.1 417.5 12.1 82.1 1,600.8 December 31, 2018 1,063.8 413.1 14.3 98.3 1,589.5 |
Right-of-use assets and lease_2
Right-of-use assets and lease liabilities Right-of-use assets and lease liabilities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Right-of-use assets and lease liabilities [Abstract] | |
Right-of-use asset operating lease by category [Table Text Block] | Right-of-use assets consist of the following operating leases: As of December 31 2017 2018 (in millions) EUR EUR Properties 81.7 105.1 Cars 10.1 11.9 Warehouses 16.7 14.5 Other 5.2 6.1 Right-of-use assets 113.7 137.6 |
Lease liabilities operating leases [Table Text Block] | Lease liabilities related to operating leases are split between current and non-current: As of December 31 2017 2018 (in millions) EUR EUR Current 32.8 46.3 Non-current 81.0 93.7 Lease liabilities 113.8 140.0 |
Depreciation charges operating leases by category [Table Text Block] | The Consolidated Statements of Operations shows the following depreciation charges relating to these operating leases: As of December 31 2016 2017 2018 (in millions) EUR EUR EUR Properties 31.0 29.9 40.2 Cars 7.1 7.1 7.4 Warehouses 5.1 5.9 7.1 Other 7.1 11.6 12.4 Depreciation charge right-of-use assets 50.3 54.5 67.1 |
Accrued and Other Liabilities (
Accrued and Other Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Accrued Liabilities and Other Liabilities [Abstract] | |
Accrued and Other Liabilities | Accrued and other liabilities consist of the following: As of December 31 2017 1 2018 (in millions) EUR EUR Costs to be paid 208.7 154.8 Personnel related items 427.6 544.4 Derivative financial instruments 67.3 47.4 Lease liabilities 113.8 140.0 Standard warranty reserve 59.7 59.8 Provisions 21.0 160.3 Other 6.7 6.4 Accrued and other liabilities 904.8 1,113.1 Less: non-current portion of accrued and other liabilities 279.3 201.7 Current portion of accrued and other liabilities 625.5 911.4 1. As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Changes in Standard Warranty Reserve | Changes in standard warranty reserve for the years 2018 and 2017 are as follows: Year ended December 31 2017 2018 (in millions) EUR EUR Balance at beginning of year 36.5 59.7 Additions for the year 74.3 79.7 Utilization of the reserve (35.4 ) (59.8 ) Release of the reserve (14.3 ) (17.8 ) Effect of exchange rates (1.4 ) (2.0 ) Balance at end of year 59.7 59.8 |
Long-term Debt (Tables)
Long-term Debt (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Debt Disclosure [Abstract] | |
Components of Long-Term Debt | Long-term debt consists of the following: As of December 31 2017 2018 (in millions) EUR EUR EUR 500 million 0.625 percent senior notes due 2022, carrying amount 487.8 494.5 EUR 750 million 3.375 percent senior notes due 2023, carrying amount 820.6 816.0 EUR 1,000 million 1.375 percent senior notes due 2026, carrying amount 947.8 964.6 EUR 750 million 1.625 percent senior notes due 2027, carrying amount 732.1 742.4 Loan headquarter building 1 25.2 — Other 11.8 9.0 Long-term debt 3,025.3 3,026.5 Less: current portion of long-term debt 25.2 — Non-current portion of long-term debt 3,000.1 3,026.5 1. This loan related to our variable interest entity, see Note 13 Property, plant and equipment . |
Principal Repayments and Other Borrowing Arrangements | Our obligations to make principal repayments under our Eurobonds and other borrowing arrangements excluding interest expense as of December 31, 2018 : (in millions) EUR 2019 1.8 2020 1.8 2021 1.8 2022 501.8 2023 750.3 Thereafter 1,750.0 Long-term debt 3,007.5 Less: current portion of long-term debt 1.8 Non-current portion of long-term debt 3,005.7 |
Summary of Carrying Amount of Outstanding Eurobonds and Fair Value of Interest Rate Swaps | The following table summarizes the carrying amount of our outstanding Eurobonds, including the fair value of interest rate swaps used to hedge the change in the fair value of the Eurobonds: As of December 31 2017 2018 (in millions) EUR EUR Amortized cost amount 2,976.6 2,980.0 Fair value interest rate swaps 1 11.7 37.5 Carrying amount 2,988.3 3,017.5 1. The fair value of the interest rate swaps excludes accrued interest. |
Estimated Fair Value of Eurobonds | The following table summarizes the estimated fair value of our Eurobonds: As of December 31 2017 2018 (in millions) EUR EUR Principal amount 3,000.0 3,000.0 Carrying amount 2,988.3 3,017.5 Fair value 1 3,193.2 3,119.4 1. Source: Bloomberg Finance LP. |
Commitments, Contingencies an_2
Commitments, Contingencies and Guarantees (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contractual Obligations | Our contractual obligations as of December 31, 2018 can be summarized as follows: Payments due by period Total 1 year 2 year 3 year 4 year 5 year After (in millions) EUR EUR EUR EUR EUR EUR EUR Long-Term Debt Obligations, including interest expense 1 3,383.6 57.3 57.2 57.2 556.5 802.3 1,853.1 Lease Obligations 2 140.0 36.7 32.3 25.8 19.9 11.9 13.4 Purchase Obligations 4,020.5 3,594.4 324.6 37.6 33.9 8.8 21.2 Carl Zeiss SMT GmbH High NA Funding Commitment 795.3 351.8 282.0 87.0 46.0 28.5 — Total Contractual Obligations 3 8,339.4 4,040.2 696.1 207.6 656.3 851.5 1,887.7 1. See Note 16 Long-term debt for the amounts excluding interest expense. 2. See Note 14 Right-of-use assets and lease liabilities for details. 3. We have excluded unrecognized tax benefits for an amount of EUR 208.7 million as the amounts that will be settled in cash are not known and the timing of any payments is uncertain. |
Employee Benefits (Tables)
Employee Benefits (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Compensation Related Costs [Abstract] | |
Bonus Plan Expenses | Our STI expenses for the BoM and other management were as follows: Year ended December 31 2016 2017 2018 (in millions) EUR EUR EUR Board of Management 1 3.5 3.8 4.5 Other management 48.5 51.7 64.6 Bonus expenses 52.0 55.5 69.1 1. Includes all members that served on the Board of Management throughout the year . |
Summary of Share Plans | Details with respect to shares granted and vested during the year are set out in the following table: EUR-denominated USD-denominated Year ended December 31 2016 2017 2018 2016 2017 2018 Total fair value at vesting date of shares vested during the year (in millions) 25.5 49.9 46.4 31.3 53.3 61.6 Weighted average fair value of shares granted 87.21 125.16 161.63 96.00 130.77 187.98 |
Employee Share Issuances | A summary of the status of conditionally outstanding shares as of December 31, 2018 , and changes during the year ended December 31, 2018 , is presented below: EUR-denominated USD-denominated Number of shares Weighted average fair value at grant date (EUR) Number of shares Weighted average fair value at grant date (USD) Conditional shares outstanding at January 1, 2018 782,090 99.10 836,554 107.61 Granted 288,679 161.63 348,997 187.98 Vested (293,075 ) 108.10 (315,333 ) 113.96 Forfeited (56,867 ) 96.98 (209,036 ) 108.33 Conditional shares outstanding at December 31, 2018 720,827 120.73 661,182 146.78 |
Assumption of Black-Scholes Option Valuation of Fair Value of Company's Stock Options | The Black-Scholes option valuation of our last stock options granted in 2016 were based on the following assumptions: Year ended December 31 2016 Weighted average share price (in EUR) 88.3 Volatility (in percentage) 27.2 Expected life (in years) 5.7 Expected dividend yield (in EUR) 2.94 |
Stock Options | Details with respect to stock options are set out in the following table: EUR-denominated USD-denominated Year ended December 31 2016 2017 2018 2016 2017 2018 Weighted average fair value of stock options granted 20.34 — — 22.69 — — Weighted average share price at the exercise date of stock options 98.08 132.67 169.68 100.68 148.48 201.01 Aggregate intrinsic value of stock options exercised (in millions) 11.5 12.5 13.6 4.1 4.8 7.6 Weighted average remaining contractual term of currently exercisable options (in years) 3.69 3.80 4.76 4.71 4.49 5.20 Aggregate intrinsic value of exercisable stock options (in millions) 22.3 21.0 8.9 8.9 13.1 5.2 Aggregate intrinsic value of outstanding stock options (in millions) 22.7 21.2 9.0 8.9 13.2 5.2 |
Stock Option Transactions | The number and weighted average exercise prices of stock options as of December 31, 2018 , and changes during the year then ended are presented below: EUR-denominated USD-denominated Number of options Weighted average exercise price per ordinary share (EUR) Number of options Weighted average exercise price per ordinary share (USD) Outstanding, January 1, 2018 207,796 42.67 118,659 62.85 Granted — — — — Exercised (90,710 ) 19.86 (46,208 ) 36.65 Forfeited — — — — Expired (197 ) — (2,152 ) — Outstanding, December 31, 2018 116,889 60.41 70,299 81.43 Exercisable, December 31, 2018 116,692 60.49 70,299 81.43 |
Outstanding Stock Options | Details with respect to the stock options outstanding are set out in the following table: EUR-denominated USD-denominated Range of Number of outstanding options at December 31, 2018 Weighted Range of Number of outstanding options at December 31, 2018 Weighted 15 - 20 9,347 0.79 15 - 20 — 0.00 20 - 25 11,227 1.80 20 - 25 — 0.00 25 - 40 9,343 2.74 25 - 40 10,212 1.90 40 - 50 11,231 3.79 40 - 50 950 2.62 50 - 60 8,853 4.95 50 - 60 3,760 3.66 60 - 70 17,079 4.93 60 - 70 729 4.06 70 - 80 16,517 6.40 70 - 80 1,422 4.30 80 - 90 33,292 6.78 80 - 90 15,155 5.78 90 - 100 — 0.00 90 - 100 38,071 6.13 Total 116,889 4.76 Total 70,299 5.20 |
Pension Costs | Our pension and retirement expenses for all employees for the years ended December 31 , 2018 , 2017 and 2016 were: Year ended December 31 2016 2017 2018 (in millions) EUR EUR EUR Pension plan based on multi-employer union plan 54.9 62.4 74.0 Pension plans based on defined contribution 30.8 38.4 48.0 Pension and retirement expenses 85.7 100.8 122.0 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Components of (Provision for) Benefit from Income Taxes | The components of the provision for income taxes are as follows: Year ended December 31 2016 1 2017 1 2018 (in millions) EUR EUR EUR Netherlands 1,277.0 2,076.6 2,602.0 Foreign 515.2 312.8 335.0 Income before taxes 1,792.2 2,389.4 2,937.0 Provision for income taxes current (66.5 ) (343.0 ) (383.1 ) Provision for income taxes deferred (85.4 ) 55.6 (40.7 ) Provision for income taxes Netherlands (151.9 ) (287.4 ) (423.8 ) Provision for income taxes current (91.4 ) (24.1 ) (203.4 ) Provision for income taxes deferred 9.0 5.4 275.6 Provision for income taxes Foreign (82.4 ) (18.7 ) 72.2 Total provision for income taxes current (158.0 ) (367.0 ) (586.5 ) Total provision for income taxes deferred (76.4 ) 61.0 234.9 Provision for income taxes (234.4 ) (306.0 ) (351.6 ) 1. As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Reconciliation Between (Provision for) Benefit from Income Taxes | The reconciliation of the provision for income taxes is as follows: Year ended December 31 2016 1 2017 1 2018 (in millions) EUR % 2 EUR % 2 EUR % 2 Income before income taxes 1,792.2 100.0 % 2,389.4 100.0 % 2,937.0 100.0 % Income tax provision based on ASML’s domestic rate (448.1 ) 25.0 % (597.4 ) 25.0 % (734.3 ) 25.0 % Effects of tax rates in foreign jurisdictions (2.7 ) 0.2 % 21.0 (0.9 )% 15.4 (0.5 )% Adjustments in respect of tax exempt income 31.3 (1.7 )% 24.0 (1.0 )% 6.2 (0.2 )% Adjustments in respect of tax incentives 188.6 (10.5 )% 263.1 (11.0 )% 311.8 (10.6 )% Adjustments in respect of prior years’ current taxes (4.7 ) 0.3 % (38.3 ) 1.6 % (1.2 ) — % Adjustments in respect of prior years’ deferred taxes (6.6 ) 0.4 % 40.9 (1.7 )% 3.3 (0.1 )% Movements in the liability for unrecognized tax benefits 4.0 (0.2 )% (17.4 ) 0.7 % (57.2 ) 1.9 % Tax effects in respect of acquisition related items 8.8 (0.5 )% — — % 115.3 (3.9 )% Other credits and non tax deductible items (5.0 ) 0.3 % (1.9 ) 0.1 % (10.9 ) 0.4 % Provision for income taxes (234.4 ) 13.1 % (306.0 ) 12.8 % (351.6 ) 12.0 % 1. As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. 2. As a percentage of income before income taxes. |
Income Taxes Recognized Directly in Shareholders' Equity (Including OCI) | Income taxes recognized directly in shareholders’ equity (including OCI) are as follows: Income tax recognized in shareholders’ equity 2016 2017 2018 (in millions) EUR EUR EUR Current tax OCI (financial instruments) 1.2 (2.3 ) (1.4 ) Tax benefit from share-based payments 1 (0.9 ) — — Deferred tax OCI (equity method investments) — — (0.9 ) Total income tax recognized in shareholders’ equity 0.3 (2.3 ) (2.3 ) 1. ASU No. 2016-09 is effective as per January 1, 2017. This requires all of the tax effects related to share based payments to be recorded through the Consolidated Statements of Operations. The comparative numbers have not been adjusted to reflect this change. |
Liability for Unrecognized Tax Benefits and Deferred Tax Position Recorded on Consolidated Balance Sheets | The liability for unrecognized tax benefits and total deferred tax position recorded on the Consolidated Balance Sheets is as follows: As of December 31 2017 1 2018 (in millions) EUR EUR Liability for unrecognized tax benefits (148.8 ) (208.7 ) Deferred tax position (160.6 ) 193.8 Deferred and other tax assets (liabilities) (309.4 ) (14.9 ) |
Reconciliation of Beginning and Ending Balance of Liability for Unrecognized Tax Benefits | A reconciliation of the beginning and ending balance of the liability for unrecognized tax benefits is as follows: As of December 31 2017 2018 (in millions) EUR EUR Balance, January 1 (105.5 ) (113.9 ) Gross increases – tax positions in prior period (1.3 ) (27.4 ) Gross decreases – tax positions in prior period 3.4 10.3 Gross increases – tax positions in current period (19.8 ) (21.9 ) Acquisitions through business combinations — — Settlements 2.1 — Lapse of statute of limitations 2.4 13.9 Effect of changes in exchange rates 4.8 (1.4 ) Total liability for unrecognized tax benefits (113.9 ) (140.4 ) |
Composition of Deferred Tax Assets and Liabilities Reconciled in Consolidated Balance Sheets | The composition of total deferred tax assets and liabilities reconciled to the classification in the Consolidated Balance Sheets is as follows: Deferred taxes January 1, 2018 Effects of changes in accounting principles Consolidated Statements of Operations Effect of changes in exchange rates Income tax recognized in shareholders’ equity December 31, 2018 (in millions) EUR 1 EUR EUR EUR EUR Deferred tax assets: Capitalized R&D expenditures 3.2 — (1.6 ) 0.1 — 1.7 R&D credits 44.1 — 25.2 1.2 — 70.5 Inventories 46.5 — 4.6 1.8 — 52.9 Deferred revenue 21.0 — 128.7 0.6 — 150.3 Accrued and other liabilities 42.7 — (4.4 ) 2.2 — 40.5 Installation and warranty reserve 11.1 — 1.6 0.6 — 13.3 Tax effect carry-forward losses 5.7 — 2.8 — — 8.5 Property, plant and equipment 9.2 8.2 1.8 0.2 — 19.4 Intangible fixed assets — 51.7 (3.0 ) — — 48.7 Restructuring and impairment — — — — — — Alternative minimum tax credits 4.5 — (4.5 ) — — — Share-based payments 7.7 — (0.3 ) 0.3 — 7.7 Other temporary differences 20.1 2.6 (2.3 ) 0.4 0.9 21.7 Total deferred tax assets, gross 215.8 62.5 148.6 7.4 0.9 435.2 Valuation allowance 2 (49.5 ) — (28.5 ) (1.2 ) — (79.2 ) Total deferred tax assets, net 166.3 62.5 120.1 6.2 0.9 356.0 Deferred tax liabilities: Intangible fixed assets (265.1 ) — 149.7 (4.4 ) — (119.8 ) Property, plant and equipment (37.9 ) — 13.3 (1.1 ) — (25.7 ) Deferred revenue (13.2 ) — 13.1 — — (0.1 ) Borrowing costs (1.7 ) — 0.2 — — (1.5 ) Other temporary differences (9.0 ) — (4.5 ) (1.6 ) — (15.1 ) Total deferred tax liabilities (326.9 ) — 171.8 (7.1 ) — (162.2 ) Net deferred tax assets (liabilities) (160.6 ) 62.5 291.9 (0.9 ) 0.9 193.8 Classified as: Deferred tax assets – non-current 31.7 236.3 Deferred tax liabilities – non-current (192.3 ) (42.5 ) Net deferred tax assets (liabilities) (160.6 ) 193.8 1. As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. 2. The valuation allowance disclosed above relates to R&D credits and Tax effect carry-forward losses that may not be realized. Deferred taxes January 1, 2017 Consolidated Statements of Operations Effect of changes in exchange rates December 31, 2017 (in millions) EUR 1 EUR 1 EUR EUR 1 Deferred tax assets: Capitalized R&D expenditures 9.5 (5.1 ) (1.2 ) 3.2 R&D credits 35.8 12.6 (4.3 ) 44.1 Inventories 80.6 (24.0 ) (10.1 ) 46.5 Deferred revenue 47.4 (20.6 ) (5.8 ) 21.0 Accrued and other liabilities 59.3 (9.5 ) (7.1 ) 42.7 Installation and warranty reserve 15.7 (2.7 ) (1.9 ) 11.1 Tax effect carry-forward losses 8.5 (3.1 ) 0.3 5.7 Property, plant and equipment 11.0 (1.3 ) (0.5 ) 9.2 Intangible fixed assets — — — — Restructuring and impairment 0.7 (0.6 ) (0.1 ) — Alternative minimum tax credits 5.1 — (0.6 ) 4.5 Share-based payments 13.9 (4.5 ) (1.7 ) 7.7 Other temporary differences 26.0 (8.9 ) 3.0 20.1 Total deferred tax assets, gross 313.5 (67.7 ) (30.0 ) 215.8 Valuation allowance 2 (42.4 ) (11.9 ) 4.8 (49.5 ) Total deferred tax assets, net 271.1 (79.6 ) (25.2 ) 166.3 Deferred tax liabilities: Intangible fixed assets (432.4 ) 140.9 26.4 (265.1 ) Property, plant and equipment (44.7 ) 1.4 5.4 (37.9 ) Deferred revenue (17.9 ) 4.7 — (13.2 ) Borrowing costs (1.8 ) 0.1 — (1.7 ) Other temporary differences (17.7 ) 11.0 (2.3 ) (9.0 ) Total deferred tax liabilities (514.5 ) 158.1 29.5 (326.9 ) Net deferred tax assets (liabilities) (243.4 ) 78.5 4.3 (160.6 ) Classified as: Deferred tax assets – current — — Deferred tax assets – non-current 34.9 31.7 Deferred tax liabilities – non-current (278.3 ) (192.3 ) Net deferred tax assets (liabilities) (243.4 ) (160.6 ) 1. As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. 2. The valuation allowance disclosed above relates to R&D credits and Tax effect carry-forward losses that may not be realized. |
Segment Disclosure (Tables)
Segment Disclosure (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Segment Reporting [Abstract] | |
Net Sales for New and Used Systems | Net system sales for new and used systems were as follows: Year ended December 31 2016 1,2 2017 1 2018 (in millions) EUR EUR EUR New systems 4,644.0 6,332.9 8,115.6 Used systems 74.9 91.5 143.5 Net system sales 4,718.9 6,424.4 8,259.1 1. As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. 2. As of January 1, 2017, ASML presents net sales with respect to metrology and inspection systems as part of net system sales instead of net service and field option sales. The 2016 numbers have been adjusted to reflect this change in accounting policy. |
Net Sales and Long-lived Assets by Geographic Region | Total net sales and long-lived assets (consisting of property, plant and equipment) by geographic region were as follows: Year ended December 31 Total net sales Long-lived assets (in millions) EUR EUR 2018 Japan 567.6 8.2 Korea 3,725.1 24.6 Singapore 222.5 1.1 Taiwan 1,989.5 96.5 China 1,842.8 16.2 Rest of Asia 1.9 0.4 Netherlands 1.2 1,113.8 EMEA 631.7 5.1 United States 1,961.7 323.6 Total 10,944.0 1,589.5 2017 1 Japan 404.3 3.4 Korea 3,031.4 23.2 Singapore 163.7 0.8 Taiwan 2,096.7 88.1 China 919.5 4.1 Rest of Asia 3.5 3.0 Netherlands 4.0 1,186.0 EMEA 921.5 5.0 United States 1,418.1 287.2 Total 8,962.7 1,600.8 2016 1 Japan 415.1 4.3 Korea 1,594.3 17.3 Singapore 245.6 0.8 Taiwan 2,140.3 125.4 China 758.2 3.2 Rest of Asia 26.7 2.8 Netherlands 1.1 1,201.4 EMEA 606.3 4.1 United States 1,087.5 327.9 Total 6,875.1 1,687.2 1. As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Revenue from Contract with Cu_2
Revenue from Contract with Customer Revenue from Contract with Customer (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Net System Sales Per Technology | Net system sales per technology were as follows: Year ended December 31 Net system sales Net system sales 2018 EUV 18 1,880.1 ArFi 86 4,806.9 ArF dry 16 274.3 KrF 78 860.1 I-line 26 98.6 Metrology & Inspection 114 339.1 Total 338 8,259.1 2017 1 EUV 11 1,084.2 ArFi 76 4,028.7 ArF dry 13 186.4 KrF 71 743.5 I-line 26 99.7 Metrology & Inspection 95 281.9 Total 292 6,424.4 2016 1,2 EUV 4 331.2 ArFi 68 3,539.6 ArF dry 7 113.4 KrF 55 552.5 I-line 20 71.2 Metrology & Inspection 55 111.0 Total 209 4,718.9 1. As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. 2. As of January 1, 2017, ASML presents net sales with respect to metrology and inspection systems as part of net system sales instead of net service and field option sales. The 2016 numbers have been adjusted to reflect this change in accounting policy. |
Net System Sales per End-Use | Net system sales per end-use were as follows: Year ended December 31 Net system sales Net system sales 2018 Logic 125 3,713.7 Memory 213 4,545.4 Total 338 8,259.1 2017 1 Logic 145 3,456.7 Memory 147 2,967.7 Total 292 6,424.4 2016 1,2 Logic 141 3,212.4 Memory 68 1,506.5 Total 209 4,718.9 1. As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. 2. As of January 1, 2017, ASML presents net sales with respect to metrology and inspection systems as part of net system sales instead of net service and field option sales. The 2016 numbers have been adjusted to reflect this change in accounting policy. |
Contract with Customer Receivable, Asset and Liability | The following table provides information about the current and non-current positions of receivables, contracts assets, and contract liabilities from contracts with our customers. Year ended December 31 2017 1 2018 (in millions) EUR EUR Accounts receivable 1,850.4 1,655.6 Finance receivables 218.5 886.2 Contract Assets 270.4 95.9 Contract liabilities (2,152.0 ) (2,953.2 ) Total 187.3 (315.5 ) 1. As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Changes in Contracts with Customer, Asset and Liability | Significant changes in the contract assets and the contract liabilities balances during the period are as follows. Year ended December 31 2017 1 2018 (in millions) EUR EUR Contract Assets Contract Liabilities Contract Assets Contract Liabilities Balance at beginning of the year 148.3 1,833.8 270.4 2,152.0 Transferred to receivables from contract assets from the beginning of the period (91.6 ) — (456.2 ) — Revenues recognized during the year, to be invoiced 456.7 — 192.3 — Revenue recognition that was included in the contract liability balance at the beginning of the period — (1,197.9 ) — (1,306.3 ) Changes as a result of cumulative catch-up adjustments arising form changes in estimates — — — (64.4 ) Remaining performance obligations for which considerations have been received — 1,759.1 — 2,082.5 Transfer between contract assets and liabilities (243.0 ) (243.0 ) 89.4 89.4 Total 270.4 2,152.0 95.9 2,953.2 1. As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Selected Operating Expenses a_2
Selected Operating Expenses and Additional Information (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Compensation Related Costs [Abstract] | |
Personnel Expenses for All Payroll Employees | Personnel expenses for all payroll employees were: Year ended December 31 2016 2017 2018 (in millions) EUR EUR EUR Wages and salaries 1,279.6 1,492.8 1,777.9 Social security expenses 103.8 119.6 146.3 Pension and retirement expenses 85.7 100.8 122.0 Share-based payments 47.7 53.1 46.3 Personnel expenses 1,516.8 1,766.3 2,092.5 |
Total Number of Payroll and Temporary Personnel Employed in FTE's Per Sector | The total number of payroll and temporary employees as of December 31 in FTEs per sector was: As of December 31 2016 2017 2018 (in FTE) Customer Support 4,210 5,051 5,674 SG&A 1,561 1,701 2,260 Manufacturing & Logistics 4,443 5,112 6,046 R&D 6,433 7,352 9,267 Total 16,647 19,216 23,247 Less: Temporary employees 2,656 2,997 3,203 Payroll employees 13,991 16,219 20,044 |
Purchases of Equity Securitie_2
Purchases of Equity Securities by the Issuer and Affiliated Purchasers (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Equity [Abstract] | |
Summary of Shares Repurchased | The following table provides a summary of shares repurchased by ASML in 2018 : Period Total number of shares purchased Average price paid per Share Total number of shares purchased as part of publicly announced plans or programs Maximum value of shares that may yet be purchased under the program January 18 - 31, 2018 219,914 165.06 219,914 2,463.7 February 1 - 28, 2018 313,137 153.93 533,051 2,415.5 March 1 - 31, 2018 507,072 168.62 1,040,123 2,330.0 April 1 - 30, 2018 398,517 161.10 1,438,640 2,265.8 May 1 - 31, 2018 623,367 167.80 2,062,007 2,161.2 June 1 - 30, 2018 568,287 176.14 2,630,294 2,061.1 July 1 - 31, 2018 623,903 176.31 3,254,197 1,951.1 August 1 - 31, 2018 764,618 178.39 4,018,815 1,814.7 September 1 - 30, 2018 718,565 161.57 4,737,380 1,698.6 October 1 - 31, 2018 835,384 153.46 5,572,764 1,570.4 November 1 - 30, 2018 861,512 149.39 6,434,276 1,441.6 December 1 - 21, 2018 610,113 143.91 7,044,389 1,353.9 Total 7,044,389 162.70 |
Related Party Transactions Rela
Related Party Transactions Related Party Revenue and Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Related Party Transactions [Abstract] | |
Schedule of Related Party Transactions | The total purchases and outstanding balances to and from Carl Zeiss SMT Holding GmbH & Co. KG and its subsidiaries were as follows: Year ended December 31 2016 2017 2018 (in millions) EUR EUR EUR Total purchases from Carl Zeiss SMT Holding GmbH & Co. KG 967.7 1,141.6 1,401.0 As of December 31 2017 2018 (in millions) EUR EUR Advance payments and CAPEX funding to Carl Zeiss SMT Holding GmbH & Co. KG 497.5 768.1 Net trade payables to Carl Zeiss SMT Holding GmbH & Co. KG 143.2 58.1 |
General Information _ Summary_4
General Information / Summary of Significant Accounting Policies - Additional Information (Detail) € / shares in Units, € in Millions | Jul. 09, 2012EUR (€)€ / shares | Dec. 31, 2018EUR (€) | Dec. 31, 2017EUR (€) | Dec. 31, 2016EUR (€) | Jan. 01, 2018EUR (€) | Nov. 03, 2016EUR (€) | Dec. 31, 2015EUR (€) | |||
Significant Accounting Policies [Line Items] | ||||||||||
Likelihood Impairment Goodwill | 50.00% | |||||||||
Voting Rights Required For Consolidation Of Subsidiaries | 50.00% | |||||||||
Right-of-Use Assets, Non-Current | € 137.6 | € 113.7 | [1] | |||||||
Additional Cash and Cash Equivalent Related Text | P3M | |||||||||
Contractual Obligation | [2] | € 8,339.4 | ||||||||
Number of Repurchase Commitments | 0 | |||||||||
Standard product warranty period in months | 12 months | |||||||||
Product warranty on certain optic parts period in months | 60 months | |||||||||
Fair value based on quoted share prices | € 3,977.4 | |||||||||
Selling price of shares included in the customer co-investment program (in EUR per share) | € / shares | € 39.91 | |||||||||
Fair value of shares issued to participating customers | [3] | € 28.6 | € 27.9 | |||||||
Operating Lease, Liability, Current | € 46.3 | 32.8 | ||||||||
Operating Lease, Liability, Noncurrent | 93.7 | 81 | ||||||||
Accounts Receivable, Net, Noncurrent | 150.7 | 105.5 | [4] | |||||||
Stockholders' Equity Attributable to Parent | 11,641 | 10,776.4 | [1] | 9,972.4 | € 10,691.1 | € 8,454.9 | ||||
Other assets | € 806.1 | 708.2 | [1],[4] | |||||||
Non Resident External Funding Period Description | 2013-2017 | |||||||||
Share Premium [Member] | ||||||||||
Significant Accounting Policies [Line Items] | ||||||||||
Fair value of shares issued to participating customers | € 123.4 | 28.6 | [3] | 27.9 | [3] | |||||
Stockholders' Equity Attributable to Parent | € 3,741.3 | 3,693.5 | € 3,070.2 | |||||||
Minimum [Member] | ||||||||||
Significant Accounting Policies [Line Items] | ||||||||||
Short Term Investments Maturity Period | 3 months | |||||||||
Maximum [Member] | ||||||||||
Significant Accounting Policies [Line Items] | ||||||||||
Short Term Investments Maturity Period | 1 year | |||||||||
Zeiss High-NA Funding Commitment [Member] | ||||||||||
Significant Accounting Policies [Line Items] | ||||||||||
Contractual Obligation | € 795.3 | 925.5 | € 760 | |||||||
Accounting Standards Update 2016-16 [Member] | ||||||||||
Significant Accounting Policies [Line Items] | ||||||||||
Stockholders' Equity Attributable to Parent | 85 | |||||||||
Other assets | 157 | |||||||||
Increase in deferred tax assets through equity | € 72 | |||||||||
Accounting Standards Update 2016-02 [Member] | ||||||||||
Significant Accounting Policies [Line Items] | ||||||||||
Right-of-Use Assets, Non-Current | 114 | 131 | ||||||||
Operating Lease, Liability, Current | 33 | 28 | ||||||||
Operating Lease, Liability, Noncurrent | 81 | 103 | ||||||||
Accounts Receivable, Net, Noncurrent | [4] | € 106 | € 32 | |||||||
Carl Zeiss SMT Holding GmbH & Co. KG [Member] | ||||||||||
Significant Accounting Policies [Line Items] | ||||||||||
Equity Method Investment, Ownership Percentage | 24.90% | |||||||||
[1] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||||||
[2] | 3.We have excluded unrecognized tax benefits for an amount of EUR 208.7 million as the amounts that will be settled in cash are not known and the timing of any payments is uncertain. | |||||||||
[3] | In 2017 (EUR 28.6 million) and 2016 (EUR 27.9 million) is recognized to increase equity to the fair value of the shares issued to the Participating Customers in the CCIP. The portion of the NRE funding allocable to the shares was recognized over the NRE Funding Agreements period (2013-2017). | |||||||||
[4] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
General Information _ Summary_5
General Information / Summary of Significant Accounting Policies - Estimated Useful Lives of Finite-Lived Other Intangible Assets (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
Brands [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Estimated useful life (in years) | 20 years |
Intellectual Property [Member] | Minimum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Estimated useful life (in years) | 3 years |
Intellectual Property [Member] | Maximum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Estimated useful life (in years) | 10 years |
Developed Technology [Member] | Minimum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Estimated useful life (in years) | 6 years |
Developed Technology [Member] | Maximum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Estimated useful life (in years) | 15 years |
Customer Relationships [Member] | Minimum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Estimated useful life (in years) | 8 years |
Customer Relationships [Member] | Maximum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Estimated useful life (in years) | 18 years |
Other [Member] | Minimum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Estimated useful life (in years) | 2 years |
Other [Member] | Maximum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Estimated useful life (in years) | 6 years |
General Information _ Summary_6
General Information / Summary of Significant Accounting Policies - Estimated Useful Lives of Property, Plant and Equipment (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
Buildings and Constructions [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | 5 years |
Buildings and Constructions [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | 45 years |
Machinery and Equipment [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | 1 year |
Machinery and Equipment [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | 5 years |
Leasehold Improvements [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | 1 year |
Leasehold Improvements [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | 10 years |
Furniture and Fixtures [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | 3 years |
Furniture and Fixtures [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | 5 years |
General Information _ Summary_7
General Information / Summary of Significant Accounting Policies - Net Income per Ordinary Share (Detail) - EUR (€) € / shares in Units, € in Millions, shares in Millions | 12 Months Ended | |||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||||
Accounting Policies [Abstract] | ||||||
Net income | [1] | € 2,591.6 | € 2,066.7 | [2],[3],[4] | € 1,557.8 | [2],[3],[4] |
Weighted average number of shares outstanding | 424.9 | 429.8 | [2] | 425.6 | [2] | |
Basic net income per ordinary share (in EUR per share) | € 6.10 | € 4.81 | [2] | € 3.66 | [2] | |
Plus shares applicable to | ||||||
Options and conditional shares | 1.5 | 1.8 | 2.1 | |||
Dilutive potential ordinary shares | 1.5 | 1.8 | 2.1 | |||
Diluted weighted average number of shares | [5],[6] | 426.4 | 431.6 | [2] | 427.7 | [2] |
Diluted net income per ordinary share (in EUR per share) | [5],[6] | € 6.08 | € 4.79 | [2],[7] | € 3.64 | [7] |
[1] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. The Retained Earnings balance at January 1, 2016 has been increased by EUR 66.1 million to reflect the changes in the new Revenue Recognition Standard. | |||||
[2] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[3] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[4] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[5] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. 2.The calculation of diluted net income per ordinary share assumes the exercise of options issued under our stock option plans and the issuance of shares under our share plans for periods in which exercises or issuances would have a dilutive effect. The calculation of diluted net income per ordinary share does not assume exercise of options when exercise would be anti-dilutive. | |||||
[6] | The calculation of diluted net income per ordinary share assumes the exercise of options issued under our stock option plans and the issuance of shares under our share plans for periods in which exercises or issuances would have a dilutive effect. The calculation of diluted net income per ordinary share does not assume exercise of options when exercise would be anti-dilutive. | |||||
[7] | As of January 1, 2017, ASML presents net sales with respect to metrology and inspection systems as part of net system sales instead of net service and field option sales. The 2016 numbers have been adjusted to reflect this change in accounting policy. |
General Information _ Summary_8
General Information / Summary of Significant Accounting Policies General Information / Summary of Significant Accounting Policies - New accounting policies (Details) - EUR (€) € / shares in Units, € in Millions, shares in Millions | 12 Months Ended | ||||||||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Jan. 01, 2018 | Jan. 01, 2016 | Dec. 31, 2015 | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
Cash and cash equivalents | € 3,121.1 | € 2,259 | [1],[2] | € 2,906.9 | [2] | € 2,458.7 | [2] | ||||
Net Sales | [3] | € 10,944 | 8,962.7 | [4] | 6,875.1 | [4] | |||||
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | The following tables summarize the impacts of the adoption of ASC 606 on our Consolidated Statements of Operations and Comprehensive Income for the year ended December 31, 2017: Consolidated Statements of Operations Year ended December 31, 2017 As previously reported Adoption of ASC 606 As adjusted (in millions, except per share data) EUR EUR EUR Net system sales 6,373.7 50.7 6,424.4 Net service and field option sales 2,679.1 (140.8 ) 2,538.3 Total net sales 9,052.8 (90.1 ) 8,962.7 Cost of system sales (3,459.0 ) 19.1 (3,439.9 ) Cost of service and field option sales (1,517.1 ) 14.5 (1,502.6 ) Total cost of sales (4,976.1 ) 33.6 (4,942.5 ) Gross profit 4,076.7 (56.5 ) 4,020.2 Other income 95.8 — 95.8 Research and development costs (1,259.7 ) — (1,259.7 ) Selling, general and administrative costs (416.6 ) — (416.6 ) Income from operations 2,496.2 (56.5 ) 2,439.7 Interest and other, net (50.3 ) — (50.3 ) Income before income taxes 2,445.9 (56.5 ) 2,389.4 Provision for income taxes (310.7 ) 4.7 (306.0 ) Income after income taxes 2,135.2 (51.8 ) 2,083.4 Profit (loss) related to equity method investments (16.7 ) — (16.7 ) Net income 2,118.5 (51.8 ) 2,066.7 Basic net income per ordinary share 4.93 4.81 Diluted net income per ordinary share 4.91 4.79 Number of ordinary shares used in computing per share amounts Basic 429.8 429.8 Diluted 431.6 431.6 Consolidated Statements of Comprehensive Income Year ended December 31, 2017 As previously reported Adoption of ASC 606 As adjusted (in millions) EUR EUR EUR Net income 2,118.5 (51.8 ) 2,066.7 Other comprehensive income: Proportionate share of other comprehensive income from equity method investments (1.0 ) — (1.0 ) Foreign currency translation, net of taxes: Gain (loss) on foreign currency translation and effective portion of hedges on net investments (329.0 ) — (329.0 ) Financial instruments, net of taxes: Gain (loss) on derivative financial instruments (16.6 ) — (16.6 ) Transfers to net income (3.1 ) — (3.1 ) Other comprehensive income, net of taxes (349.7 ) — (349.7 ) Total comprehensive income, net of taxes 1,768.8 (51.8 ) 1,717.0 Attributable to equity holders 1,768.8 (51.8 ) 1,717.0 The following table summarizes the impacts of the adoption of ASC 606 on our Consolidated Balance Sheets as of December 31, 2017: Consolidated Balance Sheets As of December 31, 2017 As previously reported Adoption of ASC 606 As adjusted (in millions, except share and per share data) EUR EUR EUR Assets Cash and cash equivalents 2,259.0 — 2,259.0 Short-term investments 1,029.3 — 1,029.3 Accounts receivable, net 1,772.3 (32.0 ) 1,740.3 Finance receivables, net 59.1 — 59.1 Current tax assets 61.6 — 61.6 Contract assets — 270.4 270.4 Inventories, net 2,958.4 (2.8 ) 2,955.6 Other assets 867.3 (356.8 ) 510.5 Total current assets 9,007.0 (121.2 ) 8,885.8 Finance receivables, net 264.9 — 264.9 Deferred tax assets 31.7 — 31.7 Other assets 602.7 — 602.7 Equity method investments 982.2 — 982.2 Goodwill 4,541.1 — 4,541.1 Other intangible assets, net 1,166.0 — 1,166.0 Property, plant and equipment, net 1,600.8 — 1,600.8 Right-of-use assets — — — Total non-current assets 9,189.4 — 9,189.4 Total assets 18,196.4 (121.2 ) 18,075.2 Liabilities and shareholders’ equity Accounts payable 837.3 — 837.3 Accrued and other liabilities 2,327.4 (1,734.6 ) 592.8 Current tax liabilities 152.0 — 152.0 Current portion of long-term debt 25.2 — 25.2 Contract liabilities — 1,530.0 1,530.0 Total current liabilities 3,341.9 (204.6 ) 3,137.3 Long-term debt 3,000.1 — 3,000.1 Deferred and other tax liabilities 327.9 13.2 341.1 Contract liabilities — 622.0 622.0 Accrued and other liabilities 850.3 (652.0 ) 198.3 Total non-current liabilities 4,178.3 (16.8 ) 4,161.5 Total liabilities 7,520.2 (221.4 ) 7,298.8 Issued and outstanding shares 38.8 — 38.8 Share premium 3,732.5 — 3,732.5 Treasury shares at cost (557.9 ) — (557.9 ) Retained earnings 5,092.8 152.0 5,244.8 Earnings current year 2,118.5 (51.8 ) 2,066.7 Accumulated other comprehensive income 251.5 — 251.5 Total shareholders’ equity 10,676.2 100.2 10,776.4 Total liabilities and shareholders’ equity 18,196.4 (121.2 ) 18,075.2 The following tables summarize the impacts of the adoption of ASC 606 on our Consolidated Statements of Cash Flows for the for the year ended December 31, 2017: Consolidated Statements of Cash Flows Year ended December 31, 2017 As previously reported Adoption of ASC 606 As adjusted (in millions) EUR EUR EUR Cash Flows from Operating Activities Net income 2,118.5 (51.8 ) 2,066.7 Adjustments to reconcile net income to net cash flows from operating activities: Depreciation and amortization 417.5 — 417.5 Impairment 9.0 — 9.0 Loss on disposal of property, plant and equipment 2.8 — 2.8 Share-based payments 53.1 — 53.1 Allowance for doubtful receivables 7.8 — 7.8 Allowance for obsolete inventory 120.1 — 120.1 Deferred income taxes (7.6 ) (0.8 ) (8.4 ) Equity method investments, net of income taxes 16.7 — 16.7 Changes in assets and liabilities: Accounts receivable (1,142.4 ) 6.0 (1,136.4 ) Finance receivables 224.8 (61.3 ) 163.5 Inventories (237.8 ) (46.3 ) (284.1 ) Other assets (389.8 ) 294.0 (95.8 ) Accrued and other liabilities 491.2 (400.3 ) 90.9 Accounts payable 266.5 — 266.5 Current tax assets and liabilities (151.8 ) — (151.8 ) Contract assets and liabilities — 260.5 260.5 Net cash provided by operating activities 1,798.6 — 1,798.6 Cash Flows from Investing Activities Purchase of property, plant and equipment (338.9 ) — (338.9 ) Purchase of intangible assets (19.1 ) — (19.1 ) Purchase of short-term investments (1,129.3 ) — (1,129.3 ) Maturity of short-term investments 1,250.0 — 1,250.0 Cash from (used for) derivative financial instruments 27.0 — 27.0 Loans issued and other investments (0.6 ) — (0.6 ) Repayment on loans 1.6 — 1.6 Acquisition of equity method investments (1,019.7 ) — (1,019.7 ) Dividend income from equity method investments 19.7 — 19.7 Acquisition of subsidiaries (net of cash acquired) — — — Net cash used in investing activities (1,209.3 ) — (1,209.3 ) Cash Flows from Financing Activities Dividend paid (516.7 ) — (516.7 ) Purchase of treasury shares (500.0 ) — (500.0 ) Net proceeds from issuance of shares 50.6 — 50.6 Net proceeds from issuance of notes — — — Repayment of debt (243.0 ) — (243.0 ) Tax benefit (deficit) from share-based payments — — — Net cash used in financing activities (1,209.1 ) — (1,209.1 ) Net cash flows (619.8 ) — (619.8 ) Effect of changes in exchange rates on cash (28.1 ) — (28.1 ) Net increase (decrease) in cash and cash equivalents (647.9 ) — (647.9 ) Cash and cash equivalents at beginning of the year 2,906.9 — 2,906.9 Cash and cash equivalents at end of the year 2,259.0 — 2,259.0 The following tables summarize the impacts of the adoption of ASC 606 on our Consolidated Statements of Operations and Comprehensive Income for the year ended December 31, 2016: Consolidated Statements of Operations Year ended December 31, 2016 As previously reported Adoption of ASC 606 As adjusted (in millions, except per share data) EUR EUR EUR Net system sales 4,672.0 46.9 4,718.9 Net service and field option sales 2,122.8 33.4 2,156.2 Total net sales 6,794.8 80.3 6,875.1 Cost of system sales (2,468.2 ) 44.3 (2,423.9 ) Cost of service and field option sales (1,282.1 ) (23.8 ) (1,305.9 ) Total cost of sales (3,750.3 ) 20.5 (3,729.8 ) Gross profit 3,044.5 100.8 3,145.3 Other income 93.8 — 93.8 Research and development costs (1,105.8 ) — (1,105.8 ) Selling, general and administrative costs (374.8 ) — (374.8 ) Income from operations 1,657.7 100.8 1,758.5 Interest and other, net 33.7 — 33.7 Income before income taxes 1,691.4 100.8 1,792.2 Provision for income taxes (219.5 ) (14.9 ) (234.4 ) Income after income taxes 1,471.9 85.9 1,557.8 Profit (loss) related to equity method investments — — — Net income 1,471.9 85.9 1,557.8 Basic net income per ordinary share 3.46 3.66 Diluted net income per ordinary share 3.44 3.64 Number of ordinary shares used in computing per share amounts Basic 425.6 425.6 Diluted 427.7 427.7 Consolidated Statements of Comprehensive Income Year ended December 31, 2016 As previously reported Adoption of ASC 606 As adjusted (in millions) EUR EUR EUR Net income 1,471.9 85.9 1,557.8 Other comprehensive income: Proportionate share of other comprehensive income from equity method investments — — — Foreign currency translation, net of taxes: Gain (loss) on foreign currency translation and effective portion of hedges on net investments 120.4 — 120.4 Financial instruments, net of taxes: Gain (loss) on derivative financial instruments 6.0 — 6.0 Transfers to net income 2.4 — 2.4 Other comprehensive income, net of taxes 128.8 — 128.8 Total comprehensive income, net of taxes 1,600.7 85.9 1,686.6 Attributable to equity holders 1,600.7 85.9 1,686.6 The following table summarizes the impacts of the adoption of ASC 606 on our Consolidated Balance Sheets as of December 31, 2016: Consolidated Balance Sheets As of December 31, 2016 As previously reported Adoption of ASC 606 As adjusted (in millions, except share and per share data) EUR EUR EUR Assets Cash and cash equivalents 2,906.9 — 2,906.9 Short-term investments 1,150.0 — 1,150.0 Accounts receivable, net 700.2 (26.0 ) 674.2 Finance receivables, net 447.4 — 447.4 Current tax assets 11.6 — 11.6 Contract assets — 91.6 91.6 Inventories, net 2,780.9 (49.1 ) 2,731.8 Deferred tax assets — — — Other assets 560.4 (62.8 ) 497.6 Total current assets 8,557.4 (46.3 ) 8,511.1 Finance receivables, net 117.2 (61.3 ) 55.9 Deferred tax assets 34.9 — 34.9 Contract assets — 56.7 56.7 Other assets 612.3 — 612.3 Equity method investments — — — Goodwill 4,873.9 — 4,873.9 Other intangible assets, net 1,323.0 — 1,323.0 Property, plant and equipment, net 1,687.2 — 1,687.2 Right-of-use assets — — — Total non-current assets 8,648.5 (4.6 ) 8,643.9 Total assets 17,205.9 (50.9 ) 17,155.0 Liabilities and shareholders’ equity Accounts payable 593.2 — 593.2 Accrued and other liabilities 2,237.8 (1,590.8 ) 647.0 Current tax liabilities 201.9 — 201.9 Current portion of long-term debt 247.7 — 247.7 Contract liabilities — 1,386.4 1,386.4 Total current liabilities 3,280.6 (204.4 ) 3,076.2 Long-term debt 3,071.8 — 3,071.8 Deferred and other tax liabilities 396.9 14.0 410.9 Provisions 20.5 — 20.5 Contract liabilities — 447.4 447.4 Accrued and other liabilities 615.7 (459.9 ) 155.8 Total non-current liabilities 4,104.9 1.5 4,106.4 Total liabilities 7,385.5 (202.9 ) 7,182.6 Issued and outstanding shares 39.4 — 39.4 Share premium 3,693.5 — 3,693.5 Treasury shares at cost (796.2 ) — (796.2 ) Retained earnings 4,810.6 66.1 4,876.7 Earnings current year 1,471.9 85.9 1,557.8 Accumulated other comprehensive income 601.2 — 601.2 Total shareholders’ equity 9,820.4 152.0 9,972.4 Total liabilities and shareholders’ equity 17,205.9 (50.9 ) 17,155.0 The following tables summarize the impacts of the adoption of ASC 606 on our Consolidated Statements of Cash Flows for the year ended December 31, 2016: Consolidated Statements of Cash Flows Year ended December 31, 2016 As previously reported Adoption of ASC 606 As adjusted (in millions) EUR EUR EUR Cash Flows from Operating Activities Net income 1,471.9 85.9 1,557.8 Adjustments to reconcile net income to net cash flows from operating activities: Depreciation and amortization 356.9 — 356.9 Impairment 3.5 — 3.5 Loss on disposal of property, plant and equipment 5.2 — 5.2 Share-based payments 47.7 — 47.7 Allowance for doubtful receivables 3.2 — 3.2 Allowance for obsolete inventory 73.0 — 73.0 Deferred income taxes (0.6 ) 14.0 13.4 Equity method investments, net of income taxes — — — Changes in assets and liabilities: Accounts receivable 187.4 26.0 213.4 Finance receivables (156.1 ) 61.3 (94.8 ) Inventories (43.7 ) 49.1 5.4 Other assets (152.9 ) 62.8 (90.1 ) Accrued and other liabilities (273.9 ) 246.9 (27.0 ) Accounts payable 50.9 — 50.9 Current tax assets and liabilities 93.4 — 93.4 Contract assets and liabilities — (546.0 ) (546.0 ) Net cash provided by operating activities 1,665.9 — 1,665.9 Cash Flows from Investing Activities Purchase of property, plant and equipment (316.3 ) — (316.3 ) Purchase of intangible assets (8.4 ) — (8.4 ) Purchase of short-term investments (2,520.0 ) — (2,520.0 ) Maturity of short-term investments 2,320.0 — 2,320.0 Cash from (used for) derivative financial instruments (15.0 ) — (15.0 ) Loans issued and other investments — — — Repayment on loans (7.4 ) — (7.4 ) Acquisition of equity method investments — — — Dividend income from equity method investments — — — Acquisition of subsidiaries (net of cash acquired) (2,641.3 ) — (2,641.3 ) Net cash used in investing activities (3,188.4 ) — (3,188.4 ) Cash Flows from Financing Activities Dividend paid (445.9 ) — (445.9 ) Purchase of treasury shares (400.0 ) — (400.0 ) Net proceeds from issuance of shares 582.7 — 582.7 Net proceeds from issuance of notes 2,230.6 — 2,230.6 Repayment of debt (4.7 ) — (4.7 ) Tax benefit (deficit) from share-based payments 0.9 — 0.9 Net cash used in financing activities 1,963.6 — 1,963.6 Net cash flows 441.1 — 441.1 Effect of changes in exchange rates on cash 7.1 — 7.1 Net increase (decrease) in cash and cash equivalents 448.2 — 448.2 Cash and cash equivalents at beginning of the year 2,458.7 — 2,458.7 Cash and cash equivalents at end of the year 2,906.9 — 2,906.9 | ||||||||||
Cost of Goods and Services Sold | € (5,914.8) | (4,942.5) | [4] | (3,729.8) | [4] | ||||||
Gross profit | 5,029.2 | 4,020.2 | [4] | 3,145.3 | [4] | ||||||
Other income | 0 | 95.8 | [4] | 93.8 | [4] | ||||||
Research and development costs | (1,575.9) | (1,259.7) | [4] | (1,105.8) | [4] | ||||||
Selling, General and Administrative Expense | (488) | (416.6) | [4] | (374.8) | [4] | ||||||
Income from operations | 2,965.3 | 2,439.7 | [4] | 1,758.5 | [4] | ||||||
Interest and other, net | (28.3) | (50.3) | [4] | 33.7 | [4] | ||||||
Income before income taxes | 2,937 | 2,389.4 | [4],[5] | 1,792.2 | [4],[5] | ||||||
Income Tax Expense (Benefit) | (351.6) | (306) | [4],[5] | (234.4) | [4],[5] | ||||||
Income (Loss) from Continuing Operations After Tax before Equity Method Investments, Noncontrolling Interest | 2,585.4 | 2,083.4 | [4] | 1,557.8 | [4] | ||||||
Profit (loss) related to equity method investments | (6.2) | 16.7 | [4] | 0 | [4] | ||||||
Accumulated other comprehensive income | 285 | 251.5 | [1] | ||||||||
Net income | [6] | € 2,591.6 | € 2,066.7 | [2],[4],[7] | € 1,557.8 | [2],[4],[7] | |||||
Earnings Per Share, Basic | € 6.10 | € 4.81 | [4] | € 3.66 | [4] | ||||||
Earnings Per Share, Diluted | [8],[9] | € 6.08 | € 4.79 | [4],[10] | € 3.64 | [10] | |||||
Basic | 424.9 | 429.8 | [4] | 425.6 | [4] | ||||||
Diluted | [8],[9] | 426.4 | 431.6 | [4] | 427.7 | [4] | |||||
Proportionate share of OCI from equity method investments | € (4.8) | € (1) | [7] | € 0 | [7] | ||||||
Foreign currency translation and effective portion of hedges on net investments | 18.2 | (329) | [7] | 120.4 | [7] | ||||||
Gain (loss) on derivative financial instruments | 8.3 | (16.6) | [7] | 6 | [7] | ||||||
Transfers to net income | 11.8 | (3.1) | [7] | 2.4 | [7] | ||||||
Other comprehensive income, net of taxes | 33.5 | (349.7) | [7] | 128.8 | [7] | ||||||
Total comprehensive income, net of taxes | 2,625.1 | 1,717 | [7] | 1,686.6 | [7] | ||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 2,625.1 | 1,717 | [7] | 1,686.6 | [7] | ||||||
Short-term investments | 913.3 | 1,029.3 | [1] | ||||||||
Accounts receivable, net | 1,498.2 | 1,740.3 | [1],[11] | ||||||||
Finance receivables, net | 611.1 | 59.1 | [1] | ||||||||
Current tax assets | 79.7 | 61.6 | [1] | ||||||||
Contract Assets, Current | 95.9 | 270.4 | [1],[12] | ||||||||
Inventories, net | 3,439.5 | 2,955.6 | [1],[13] | ||||||||
Deferred tax assets | [14] | 0 | 0 | ||||||||
Other assets | 772.6 | [15] | 510.5 | [1],[16] | |||||||
Total current assets | 10,531.4 | 8,885.8 | [1] | ||||||||
Finance receivables, net | 275.1 | 159.4 | [1],[17] | ||||||||
Deferred tax assets | 236.3 | [15] | 31.7 | [1],[14],[18] | 34.9 | [14] | |||||
Other assets | 806.1 | 708.2 | [1],[19] | ||||||||
Equity Method Investments | 915.8 | 982.2 | [1] | ||||||||
Goodwill | 4,541.1 | 4,541.1 | [1] | 4,873.9 | |||||||
Other intangible assets, net | 1,104 | 1,166 | [1] | ||||||||
Property, plant and equipment, net | 1,589.5 | 1,600.8 | [1],[3] | 1,687.2 | [3] | ||||||
Right-of-Use Assets, Non-Current | 137.6 | 113.7 | [1] | ||||||||
Total non-current assets | 9,605.5 | 9,303.1 | [1] | ||||||||
Total assets | 20,136.9 | 18,188.9 | [1] | ||||||||
Accounts payable | 964 | 837.3 | [1] | ||||||||
Accrued and other liabilities | 911.4 | 625.5 | [1],[20] | ||||||||
Current tax liabilities | 187.9 | 152 | [1] | ||||||||
Current portion of long-term debt | 0 | 25.2 | [1] | ||||||||
Contract Liabilities, Current | 1,728.6 | 1,530 | [1] | ||||||||
Total current liabilities | 3,791.9 | 3,170 | [1] | ||||||||
Long-term debt | 3,026.5 | 3,000.1 | [1] | ||||||||
Deferred and other tax liabilities | 251.2 | 341.1 | [1] | ||||||||
Restructuring Reserve, Noncurrent | 160.3 | 21 | |||||||||
Contract Liabilities, Noncurrent | 1,224.6 | 622 | [1] | ||||||||
Accrued and other liabilities | 201.7 | 279.3 | [1],[20] | ||||||||
Total non-current liabilities | 4,704 | 4,242.5 | [1] | ||||||||
Total liabilities | 8,495.9 | 7,412.5 | [1] | ||||||||
Issued and outstanding shares | 38.6 | 38.8 | [1] | ||||||||
Share premium | 3,741.3 | 3,732.5 | [1] | ||||||||
Treasury Stock, Value | 1,621.8 | 557.9 | [1] | ||||||||
Retained earnings | 9,197.9 | [15] | 7,311.5 | [1] | |||||||
Stockholders' Equity Attributable to Parent | 11,641 | 10,776.4 | [1] | 9,972.4 | € 10,691.1 | 8,454.9 | |||||
Total liabilities and shareholders’ equity | 20,136.9 | 18,188.9 | [1] | ||||||||
Depreciation, Depletion and Amortization | [21] | 422.7 | 417.5 | [2] | 356.9 | [2] | |||||
Impairment | 15.4 | 9 | [2] | 3.5 | [2] | ||||||
Gain (Loss) on Disposition of Property Plant Equipment | [22] | (3.6) | (2.8) | [2] | (5.2) | [2] | |||||
Share-based payments | 46.3 | 53.1 | [2] | 47.7 | [2] | ||||||
Allowance for doubtful receivables | 11.2 | 7.8 | [2] | 3.2 | [2] | ||||||
Allowance for obsolete inventory | 218.2 | 120.1 | [2] | 73 | [2] | ||||||
Deferred Income Taxes and Tax Credits | (238.5) | (8.4) | [2] | 13.4 | [2] | ||||||
Proceeds from Equity Method Investment, Distribution | 61.6 | 36.4 | [2] | 0 | [2] | ||||||
Increase (Decrease) in Accounts Receivable | (201.2) | 1,136.4 | [2] | (213.4) | [2] | ||||||
Increase (Decrease) in Leasing Receivables | 664.9 | (237) | [2] | 62.9 | [2] | ||||||
Increase (Decrease) in Inventories | [22] | 515.7 | 284.1 | [2] | (5.4) | [2] | |||||
Increase (Decrease) in Other Operating Assets | 404 | 169.4 | [2] | 122.1 | [2] | ||||||
Accrued and other liabilities | 237.7 | 90.9 | [2] | (27) | [2] | ||||||
Accounts payable | 97.9 | 266.6 | [2] | 50.9 | [2] | ||||||
Current tax assets and liabilities | 13.1 | (151.8) | [2] | 93.4 | [2] | ||||||
Increase (Decrease) in Contract with Customer, Liability | 975.3 | 260.5 | [2] | (546) | [2] | ||||||
Net cash provided by operating activities | 3,072.7 | 1,818.3 | [2] | 1,665.9 | [2] | ||||||
Payments to Acquire Property, Plant, and Equipment | [23] | 574 | [24],[25] | 338.9 | [2] | 316.3 | [2] | ||||
Payments to Acquire Intangible Assets | 35.5 | 19.1 | [2] | 8.4 | [2] | ||||||
Payments to Acquire Other Investments | 918.1 | 1,129.3 | [2] | 2,520 | [2] | ||||||
Maturity of short-term investments | 1,034.1 | 1,250 | [2] | 2,320 | [2] | ||||||
Payments for (Proceeds from) Derivative Instrument, Investing Activities | 2.4 | (27) | [2] | 15 | [2] | ||||||
Payments for (Proceeds from) Other Investing Activities | 1 | 0.6 | [2] | 0 | [2] | ||||||
Proceeds from (Repayments of) Debt | 5.4 | 1.6 | [2] | (7.4) | [2] | ||||||
Payments to Acquire Equity Method Investments | 0 | 1,019.7 | [2] | 0 | [2] | ||||||
Proceeds from Equity Method Investment, Distribution, Return of Capital | [2] | 89.2 | 19.7 | ||||||||
Payments to Acquire Businesses, Net of Cash Acquired | 0 | 0 | [2] | 2,641.3 | [2] | ||||||
Net cash used in investing activities | (491.5) | (1,229) | [2] | (3,188.4) | [2] | ||||||
Payments of Dividends | 597.1 | 516.7 | [2] | 445.9 | [2] | ||||||
Payments for Repurchase of Common Stock | 1,146.2 | 500 | [2] | 400 | [2] | ||||||
Net proceeds from issuance of shares | 21.8 | 50.6 | [2] | 582.7 | [2],[26] | ||||||
Net proceeds from issuance of notes | 0 | 0 | [2] | 2,230.6 | [2],[25],[27] | ||||||
Repayments of Long-term Debt | 2.8 | [25] | 243 | [2] | 4.7 | [2] | |||||
Tax benefit (deficit) from share-based payments | 0 | 0 | [2] | 0.9 | [2] | ||||||
Net cash from (used in) financing activities | (1,724.3) | (1,209.1) | [2] | 1,963.6 | [2] | ||||||
Net cash flows | 856.9 | (619.8) | [2] | 441.1 | [2] | ||||||
Effect of changes in exchange rates on cash | 5.2 | (28.1) | [2] | 7.1 | [2] | ||||||
Cash and Cash Equivalents, Period Increase (Decrease) | 862.1 | (647.9) | [2] | 448.2 | [2] | ||||||
lease liabilities for operating leases [Member] | leases [Member] | |||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | (114) | (131) | |||||||||
Product [Member] | |||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
Net Sales | [10] | 8,259.1 | 6,424.4 | [4],[28],[29] | 4,718.9 | [4],[28],[29],[30],[31] | |||||
Cost of Goods and Services Sold | (4,141.2) | (3,439.9) | [4] | (2,423.9) | [4],[10] | ||||||
Service and Field Options [Member] | |||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
Net Sales | [10] | 2,684.9 | 2,538.3 | [4] | 2,156.2 | [4] | |||||
Cost of Goods and Services Sold | € (1,773.6) | (1,502.6) | [4] | (1,305.9) | [4],[10] | ||||||
Previously Reported [Member] | |||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
Cash and cash equivalents | 2,259 | 2,906.9 | 2,458.7 | ||||||||
Net Sales | 9,052.8 | 6,794.8 | |||||||||
Cost of Goods and Services Sold | (4,976.1) | (3,750.3) | |||||||||
Gross profit | 4,076.7 | 3,044.5 | |||||||||
Other income | 95.8 | 93.8 | |||||||||
Research and development costs | (1,259.7) | (1,105.8) | |||||||||
Selling, General and Administrative Expense | (416.6) | (374.8) | |||||||||
Income from operations | 2,496.2 | 1,657.7 | |||||||||
Interest and other, net | (50.3) | 33.7 | |||||||||
Income before income taxes | 2,445.9 | 1,691.4 | |||||||||
Income Tax Expense (Benefit) | (310.7) | (219.5) | |||||||||
Income (Loss) from Continuing Operations After Tax before Equity Method Investments, Noncontrolling Interest | 2,135.2 | 1,471.9 | |||||||||
Profit (loss) related to equity method investments | 16.7 | 0 | |||||||||
Accumulated other comprehensive income | 251.5 | 601.2 | |||||||||
Net income | € 2,118.5 | € 1,471.9 | |||||||||
Earnings Per Share, Basic | € 4.93 | € 3.46 | |||||||||
Earnings Per Share, Diluted | € 4.91 | € 3.44 | |||||||||
Basic | 429.8 | 425.6 | |||||||||
Diluted | 431.6 | 427.7 | |||||||||
Proportionate share of OCI from equity method investments | € (1) | € 0 | |||||||||
Foreign currency translation and effective portion of hedges on net investments | (329) | 120.4 | |||||||||
Gain (loss) on derivative financial instruments | (16.6) | 6 | |||||||||
Transfers to net income | (3.1) | 2.4 | |||||||||
Other comprehensive income, net of taxes | (349.7) | 128.8 | |||||||||
Total comprehensive income, net of taxes | 1,768.8 | 1,600.7 | |||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 1,768.8 | 1,600.7 | |||||||||
Short-term investments | 1,029.3 | 1,150 | |||||||||
Accounts receivable, net | 1,772.3 | 700.2 | |||||||||
Finance receivables, net | 59.1 | 447.4 | |||||||||
Current tax assets | 61.6 | 11.6 | |||||||||
Contract Assets, Current | 0 | 0 | |||||||||
Inventories, net | 2,958.4 | 2,780.9 | |||||||||
Deferred tax assets | 0 | ||||||||||
Other assets | 867.3 | 560.4 | |||||||||
Total current assets | 9,007 | 8,557.4 | |||||||||
Finance receivables, net | 264.9 | 117.2 | |||||||||
Deferred tax assets | 31.7 | 34.9 | |||||||||
Contract with Customer, Asset, Net, Noncurrent | 0 | ||||||||||
Other assets | 602.7 | 612.3 | |||||||||
Equity Method Investments | 982.2 | 0 | |||||||||
Goodwill | 4,541.1 | 4,873.9 | |||||||||
Other intangible assets, net | 1,166 | 1,323 | |||||||||
Property, plant and equipment, net | 1,600.8 | 1,687.2 | |||||||||
Right-of-Use Assets, Non-Current | 0 | 0 | |||||||||
Total non-current assets | 9,189.4 | 8,648.5 | |||||||||
Total assets | 18,196.4 | 17,205.9 | |||||||||
Accounts payable | 837.3 | 593.2 | |||||||||
Accrued and other liabilities | 2,327.4 | 2,237.8 | |||||||||
Current tax liabilities | 152 | 201.9 | |||||||||
Current portion of long-term debt | 25.2 | 247.7 | |||||||||
Contract Liabilities, Current | 0 | 0 | |||||||||
Total current liabilities | 3,341.9 | 3,280.6 | |||||||||
Long-term debt | 3,000.1 | 3,071.8 | |||||||||
Deferred and other tax liabilities | 327.9 | 396.9 | |||||||||
Restructuring Reserve, Noncurrent | 20.5 | ||||||||||
Contract Liabilities, Noncurrent | 0 | 0 | |||||||||
Accrued and other liabilities | 850.3 | 615.7 | |||||||||
Total non-current liabilities | 4,178.3 | 4,104.9 | |||||||||
Total liabilities | 7,520.2 | 7,385.5 | |||||||||
Issued and outstanding shares | 38.8 | 39.4 | |||||||||
Share premium | 3,732.5 | 3,693.5 | |||||||||
Treasury Stock, Value | 557.9 | 796.2 | |||||||||
Retained earnings | 5,092.8 | 4,810.6 | |||||||||
Stockholders' Equity Attributable to Parent | 10,676.2 | 9,820.4 | |||||||||
Total liabilities and shareholders’ equity | 18,196.4 | 17,205.9 | |||||||||
Depreciation, Depletion and Amortization | 417.5 | 356.9 | |||||||||
Impairment | 9 | 3.5 | |||||||||
Gain (Loss) on Disposition of Property Plant Equipment | (2.8) | (5.2) | |||||||||
Share-based payments | 53.1 | 47.7 | |||||||||
Allowance for doubtful receivables | 7.8 | 3.2 | |||||||||
Allowance for obsolete inventory | 120.1 | 73 | |||||||||
Deferred Income Taxes and Tax Credits | (7.6) | (0.6) | |||||||||
Proceeds from Equity Method Investment, Distribution | 16.7 | ||||||||||
Increase (Decrease) in Accounts Receivable | 1,142.4 | (187.4) | |||||||||
Increase (Decrease) in Leasing Receivables | (224.8) | 156.1 | |||||||||
Increase (Decrease) in Inventories | 237.8 | 43.7 | |||||||||
Increase (Decrease) in Other Operating Assets | 389.8 | 152.9 | |||||||||
Accrued and other liabilities | 491.2 | (273.9) | |||||||||
Accounts payable | 266.5 | 50.9 | |||||||||
Current tax assets and liabilities | (151.8) | 93.4 | |||||||||
Increase (Decrease) in Contract with Customer, Liability | 0 | 0 | |||||||||
Net cash provided by operating activities | 1,798.6 | 1,665.9 | |||||||||
Payments to Acquire Property, Plant, and Equipment | 338.9 | 316.3 | |||||||||
Payments to Acquire Intangible Assets | 19.1 | 8.4 | |||||||||
Payments to Acquire Other Investments | 1,129.3 | 2,520 | |||||||||
Maturity of short-term investments | 1,250 | 2,320 | |||||||||
Payments for (Proceeds from) Derivative Instrument, Investing Activities | (27) | 15 | |||||||||
Payments for (Proceeds from) Other Investing Activities | 0.6 | 0 | |||||||||
Proceeds from (Repayments of) Debt | 1.6 | (7.4) | |||||||||
Payments to Acquire Equity Method Investments | 1,019.7 | 0 | |||||||||
Proceeds from Equity Method Investment, Distribution, Return of Capital | 19.7 | 0 | |||||||||
Payments to Acquire Businesses, Net of Cash Acquired | 0 | 2,641.3 | |||||||||
Net cash used in investing activities | (1,209.3) | (3,188.4) | |||||||||
Payments of Dividends | 516.7 | 445.9 | |||||||||
Payments for Repurchase of Common Stock | 500 | 400 | |||||||||
Net proceeds from issuance of shares | 50.6 | 582.7 | |||||||||
Net proceeds from issuance of notes | 0 | 2,230.6 | |||||||||
Repayments of Long-term Debt | 243 | 4.7 | |||||||||
Tax benefit (deficit) from share-based payments | 0 | 0.9 | |||||||||
Net cash from (used in) financing activities | (1,209.1) | 1,963.6 | |||||||||
Net cash flows | (619.8) | 441.1 | |||||||||
Effect of changes in exchange rates on cash | (28.1) | 7.1 | |||||||||
Cash and Cash Equivalents, Period Increase (Decrease) | (647.9) | 448.2 | |||||||||
Previously Reported [Member] | Product [Member] | |||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
Net Sales | 6,373.7 | 4,672 | |||||||||
Cost of Goods and Services Sold | [4],[10] | (3,459) | (2,468.2) | ||||||||
Previously Reported [Member] | Service and Field Options [Member] | |||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
Net Sales | 2,679.1 | 2,122.8 | |||||||||
Cost of Goods and Services Sold | [4],[10] | (1,517.1) | (1,282.1) | ||||||||
Restatement Adjustment [Member] | |||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
Cash and cash equivalents | 0 | 0 | 0 | ||||||||
Net Sales | (90.1) | 80.3 | |||||||||
Cost of Goods and Services Sold | 33.6 | 20.5 | |||||||||
Gross profit | (56.5) | 100.8 | |||||||||
Other income | 0 | 0 | |||||||||
Research and development costs | 0 | 0 | |||||||||
Selling, General and Administrative Expense | 0 | 0 | |||||||||
Income from operations | (56.5) | 100.8 | |||||||||
Interest and other, net | 0 | 0 | |||||||||
Income before income taxes | (56.5) | 100.8 | |||||||||
Income Tax Expense (Benefit) | 4.7 | (14.9) | |||||||||
Income (Loss) from Continuing Operations After Tax before Equity Method Investments, Noncontrolling Interest | (51.8) | 85.9 | |||||||||
Profit (loss) related to equity method investments | 0 | 0 | |||||||||
Accumulated other comprehensive income | 0 | 0 | |||||||||
Net income | (51.8) | 85.9 | |||||||||
Proportionate share of OCI from equity method investments | 0 | ||||||||||
Foreign currency translation and effective portion of hedges on net investments | 0 | ||||||||||
Gain (loss) on derivative financial instruments | 0 | ||||||||||
Transfers to net income | 0 | ||||||||||
Other comprehensive income, net of taxes | 0 | 0 | |||||||||
Total comprehensive income, net of taxes | (51.8) | 85.9 | |||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | (51.8) | 85.9 | |||||||||
Short-term investments | 0 | 0 | |||||||||
Accounts receivable, net | (32) | (26) | |||||||||
Finance receivables, net | 0 | 0 | |||||||||
Current tax assets | 0 | 0 | |||||||||
Contract Assets, Current | 270.4 | 91.6 | |||||||||
Inventories, net | (2.8) | (49.1) | |||||||||
Deferred tax assets | 0 | ||||||||||
Other assets | (356.8) | (62.8) | |||||||||
Total current assets | (121.2) | (46.3) | |||||||||
Finance receivables, net | 0 | (61.3) | |||||||||
Deferred tax assets | 0 | 0 | |||||||||
Contract with Customer, Asset, Net, Noncurrent | 56.7 | ||||||||||
Other assets | 0 | 0 | |||||||||
Equity Method Investments | 0 | 0 | |||||||||
Goodwill | 0 | 0 | |||||||||
Other intangible assets, net | 0 | 0 | |||||||||
Property, plant and equipment, net | 0 | 0 | |||||||||
Right-of-Use Assets, Non-Current | 0 | 0 | |||||||||
Total non-current assets | 0 | (4.6) | |||||||||
Total assets | (121.2) | (50.9) | |||||||||
Accounts payable | 0 | 0 | |||||||||
Accrued and other liabilities | (1,734.6) | (1,590.8) | |||||||||
Current tax liabilities | 0 | 0 | |||||||||
Current portion of long-term debt | 0 | 0 | |||||||||
Contract Liabilities, Current | 1,530 | 1,386.4 | |||||||||
Total current liabilities | (204.6) | (204.4) | |||||||||
Long-term debt | 0 | 0 | |||||||||
Deferred and other tax liabilities | 13.2 | 14 | |||||||||
Restructuring Reserve, Noncurrent | 0 | ||||||||||
Contract Liabilities, Noncurrent | 622 | 447.4 | |||||||||
Accrued and other liabilities | (652) | (459.9) | |||||||||
Total non-current liabilities | (16.8) | 1.5 | |||||||||
Total liabilities | (221.4) | (202.9) | |||||||||
Issued and outstanding shares | 0 | 0 | |||||||||
Share premium | 0 | 0 | |||||||||
Treasury Stock, Value | 0 | 0 | |||||||||
Retained earnings | 152 | ||||||||||
Retained earnings opening balance adjustment | € 66.1 | ||||||||||
Stockholders' Equity Attributable to Parent | 100.2 | 152 | |||||||||
Total liabilities and shareholders’ equity | (121.2) | (50.9) | |||||||||
Depreciation, Depletion and Amortization | 0 | 0 | |||||||||
Impairment | 0 | 0 | |||||||||
Gain (Loss) on Disposition of Property Plant Equipment | 0 | 0 | |||||||||
Share-based payments | 0 | 0 | |||||||||
Allowance for doubtful receivables | 0 | 0 | |||||||||
Allowance for obsolete inventory | 0 | 0 | |||||||||
Deferred Income Taxes and Tax Credits | (0.8) | 14 | |||||||||
Proceeds from Equity Method Investment, Distribution | 0 | ||||||||||
Increase (Decrease) in Accounts Receivable | (6) | (26) | |||||||||
Increase (Decrease) in Leasing Receivables | 61.3 | (61.3) | |||||||||
Increase (Decrease) in Inventories | 46.3 | (49.1) | |||||||||
Increase (Decrease) in Other Operating Assets | (294) | (62.8) | |||||||||
Accrued and other liabilities | (400.3) | 246.9 | |||||||||
Accounts payable | 0 | 0 | |||||||||
Current tax assets and liabilities | 0 | 0 | |||||||||
Increase (Decrease) in Contract with Customer, Liability | 260.5 | (546) | |||||||||
Net cash provided by operating activities | 0 | 0 | |||||||||
Payments to Acquire Property, Plant, and Equipment | 0 | 0 | |||||||||
Payments to Acquire Intangible Assets | 0 | 0 | |||||||||
Payments to Acquire Other Investments | 0 | 0 | |||||||||
Maturity of short-term investments | 0 | 0 | |||||||||
Payments for (Proceeds from) Derivative Instrument, Investing Activities | 0 | 0 | |||||||||
Payments for (Proceeds from) Other Investing Activities | 0 | 0 | |||||||||
Proceeds from (Repayments of) Debt | 0 | 0 | |||||||||
Payments to Acquire Equity Method Investments | 0 | 0 | |||||||||
Proceeds from Equity Method Investment, Distribution, Return of Capital | 0 | 0 | |||||||||
Payments to Acquire Businesses, Net of Cash Acquired | 0 | 0 | |||||||||
Net cash used in investing activities | 0 | 0 | |||||||||
Payments of Dividends | 0 | 0 | |||||||||
Payments for Repurchase of Common Stock | 0 | 0 | |||||||||
Net proceeds from issuance of shares | 0 | 0 | |||||||||
Net proceeds from issuance of notes | 0 | 0 | |||||||||
Repayments of Long-term Debt | 0 | 0 | |||||||||
Tax benefit (deficit) from share-based payments | 0 | 0 | |||||||||
Net cash from (used in) financing activities | 0 | 0 | |||||||||
Net cash flows | 0 | 0 | |||||||||
Effect of changes in exchange rates on cash | 0 | 0 | |||||||||
Cash and Cash Equivalents, Period Increase (Decrease) | 0 | 0 | |||||||||
Restatement Adjustment [Member] | Product [Member] | |||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
Net Sales | 50.7 | 46.9 | |||||||||
Cost of Goods and Services Sold | [4],[10] | 19.1 | 44.3 | ||||||||
Restatement Adjustment [Member] | Service and Field Options [Member] | |||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
Net Sales | (140.8) | 33.4 | |||||||||
Cost of Goods and Services Sold | [4],[10] | 14.5 | (23.8) | ||||||||
Restated amount, previously reported including adjustment [Member] | |||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
Cash and cash equivalents | 2,259 | 2,906.9 | € 2,458.7 | ||||||||
Net Sales | 8,962.7 | 6,875.1 | |||||||||
Cost of Goods and Services Sold | (4,942.5) | (3,729.8) | |||||||||
Gross profit | 4,020.2 | 3,145.3 | |||||||||
Other income | 95.8 | 93.8 | |||||||||
Research and development costs | (1,259.7) | (1,105.8) | |||||||||
Selling, General and Administrative Expense | (416.6) | (374.8) | |||||||||
Income from operations | 2,439.7 | 1,758.5 | |||||||||
Interest and other, net | (50.3) | 33.7 | |||||||||
Income before income taxes | 2,389.4 | 1,792.2 | |||||||||
Income Tax Expense (Benefit) | (306) | (234.4) | |||||||||
Income (Loss) from Continuing Operations After Tax before Equity Method Investments, Noncontrolling Interest | 2,083.4 | 1,557.8 | |||||||||
Profit (loss) related to equity method investments | 16.7 | 0 | |||||||||
Accumulated other comprehensive income | 251.5 | 601.2 | |||||||||
Net income | € 2,066.7 | € 1,557.8 | |||||||||
Earnings Per Share, Basic | € 4.81 | € 3.66 | |||||||||
Earnings Per Share, Diluted | € 4.79 | € 3.64 | |||||||||
Basic | 429.8 | 425.6 | |||||||||
Diluted | 431.6 | 427.7 | |||||||||
Proportionate share of OCI from equity method investments | € (1) | € 0 | |||||||||
Foreign currency translation and effective portion of hedges on net investments | (329) | 120.4 | |||||||||
Gain (loss) on derivative financial instruments | (16.6) | 6 | |||||||||
Transfers to net income | (3.1) | 2.4 | |||||||||
Other comprehensive income, net of taxes | (349.7) | 128.8 | |||||||||
Total comprehensive income, net of taxes | 1,717 | 1,686.6 | |||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 1,717 | 1,686.6 | |||||||||
Short-term investments | 1,029.3 | 1,150 | |||||||||
Accounts receivable, net | 1,740.3 | 674.2 | |||||||||
Finance receivables, net | 59.1 | 447.4 | |||||||||
Current tax assets | 61.6 | 11.6 | |||||||||
Contract Assets, Current | 270.4 | 91.6 | |||||||||
Inventories, net | 2,955.6 | 2,731.8 | |||||||||
Deferred tax assets | 0 | ||||||||||
Other assets | 510.5 | 497.6 | |||||||||
Total current assets | 8,885.8 | 8,511.1 | |||||||||
Finance receivables, net | 264.9 | 55.9 | |||||||||
Deferred tax assets | 31.7 | 34.9 | |||||||||
Contract with Customer, Asset, Net, Noncurrent | 56.7 | ||||||||||
Other assets | 602.7 | 612.3 | |||||||||
Equity Method Investments | 982.2 | 0 | |||||||||
Goodwill | 4,541.1 | 4,873.9 | |||||||||
Other intangible assets, net | 1,166 | 1,323 | |||||||||
Property, plant and equipment, net | 1,600.8 | 1,687.2 | |||||||||
Right-of-Use Assets, Non-Current | 0 | 0 | |||||||||
Total non-current assets | 9,189.4 | 8,643.9 | |||||||||
Total assets | 18,075.2 | 17,155 | |||||||||
Accounts payable | 837.3 | 593.2 | |||||||||
Accrued and other liabilities | 592.8 | 647 | |||||||||
Current tax liabilities | 152 | 201.9 | |||||||||
Current portion of long-term debt | 25.2 | 247.7 | |||||||||
Contract Liabilities, Current | 1,530 | 1,386.4 | |||||||||
Total current liabilities | 3,137.3 | 3,076.2 | |||||||||
Long-term debt | 3,000.1 | 3,071.8 | |||||||||
Deferred and other tax liabilities | 341.1 | 410.9 | |||||||||
Restructuring Reserve, Noncurrent | 20.5 | ||||||||||
Contract Liabilities, Noncurrent | 622 | 447.4 | |||||||||
Accrued and other liabilities | 198.3 | 155.8 | |||||||||
Total non-current liabilities | 4,161.5 | 4,106.4 | |||||||||
Total liabilities | 7,298.8 | 7,182.6 | |||||||||
Issued and outstanding shares | 38.8 | 39.4 | |||||||||
Share premium | 3,732.5 | 3,693.5 | |||||||||
Treasury Stock, Value | 557.9 | 796.2 | |||||||||
Retained earnings | 5,244.8 | 4,876.7 | |||||||||
Stockholders' Equity Attributable to Parent | 10,776.4 | 9,972.4 | |||||||||
Total liabilities and shareholders’ equity | 18,075.2 | 17,155 | |||||||||
Depreciation, Depletion and Amortization | 417.5 | 356.9 | |||||||||
Impairment | 9 | 3.5 | |||||||||
Gain (Loss) on Disposition of Property Plant Equipment | (2.8) | (5.2) | |||||||||
Share-based payments | 53.1 | 47.7 | |||||||||
Allowance for doubtful receivables | 7.8 | 3.2 | |||||||||
Allowance for obsolete inventory | 120.1 | 73 | |||||||||
Deferred Income Taxes and Tax Credits | (8.4) | 13.4 | |||||||||
Proceeds from Equity Method Investment, Distribution | 16.7 | ||||||||||
Increase (Decrease) in Accounts Receivable | 1,136.4 | (213.4) | |||||||||
Increase (Decrease) in Leasing Receivables | (163.5) | 94.8 | |||||||||
Increase (Decrease) in Inventories | 284.1 | (5.4) | |||||||||
Increase (Decrease) in Other Operating Assets | 95.8 | 90.1 | |||||||||
Accrued and other liabilities | 90.9 | (27) | |||||||||
Accounts payable | 266.5 | 50.9 | |||||||||
Current tax assets and liabilities | (151.8) | 93.4 | |||||||||
Increase (Decrease) in Contract with Customer, Liability | 260.5 | (546) | |||||||||
Net cash provided by operating activities | 1,798.6 | 1,665.9 | |||||||||
Payments to Acquire Property, Plant, and Equipment | 338.9 | 316.3 | |||||||||
Payments to Acquire Intangible Assets | 19.1 | 8.4 | |||||||||
Payments to Acquire Other Investments | 1,129.3 | 2,520 | |||||||||
Maturity of short-term investments | 1,250 | 2,320 | |||||||||
Payments for (Proceeds from) Derivative Instrument, Investing Activities | (27) | 15 | |||||||||
Payments for (Proceeds from) Other Investing Activities | 0.6 | 0 | |||||||||
Proceeds from (Repayments of) Debt | 1.6 | (7.4) | |||||||||
Payments to Acquire Equity Method Investments | 1,019.7 | 0 | |||||||||
Proceeds from Equity Method Investment, Distribution, Return of Capital | 19.7 | 0 | |||||||||
Payments to Acquire Businesses, Net of Cash Acquired | 0 | 2,641.3 | |||||||||
Net cash used in investing activities | (1,209.3) | (3,188.4) | |||||||||
Payments of Dividends | 516.7 | 445.9 | |||||||||
Payments for Repurchase of Common Stock | 500 | 400 | |||||||||
Net proceeds from issuance of shares | 50.6 | 582.7 | |||||||||
Net proceeds from issuance of notes | 0 | 2,230.6 | |||||||||
Repayments of Long-term Debt | 243 | 4.7 | |||||||||
Tax benefit (deficit) from share-based payments | 0 | 0.9 | |||||||||
Net cash from (used in) financing activities | (1,209.1) | 1,963.6 | |||||||||
Net cash flows | (619.8) | 441.1 | |||||||||
Effect of changes in exchange rates on cash | (28.1) | 7.1 | |||||||||
Cash and Cash Equivalents, Period Increase (Decrease) | (647.9) | 448.2 | |||||||||
Restated amount, previously reported including adjustment [Member] | Product [Member] | |||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
Net Sales | 6,424.4 | 4,718.9 | |||||||||
Cost of Goods and Services Sold | [4],[10] | (3,439.9) | (2,423.9) | ||||||||
Restated amount, previously reported including adjustment [Member] | Service and Field Options [Member] | |||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
Net Sales | 2,538.3 | 2,156.2 | |||||||||
Cost of Goods and Services Sold | [4],[10] | € (1,502.6) | € (1,305.9) | ||||||||
[1] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||||||||||
[2] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||||||||||
[3] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||||||||||
[4] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||||||||||
[5] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||||||||||
[6] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. The Retained Earnings balance at January 1, 2016 has been increased by EUR 66.1 million to reflect the changes in the new Revenue Recognition Standard. | ||||||||||
[7] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||||||||||
[8] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. 2.The calculation of diluted net income per ordinary share assumes the exercise of options issued under our stock option plans and the issuance of shares under our share plans for periods in which exercises or issuances would have a dilutive effect. The calculation of diluted net income per ordinary share does not assume exercise of options when exercise would be anti-dilutive. | ||||||||||
[9] | The calculation of diluted net income per ordinary share assumes the exercise of options issued under our stock option plans and the issuance of shares under our share plans for periods in which exercises or issuances would have a dilutive effect. The calculation of diluted net income per ordinary share does not assume exercise of options when exercise would be anti-dilutive. | ||||||||||
[10] | As of January 1, 2017, ASML presents net sales with respect to metrology and inspection systems as part of net system sales instead of net service and field option sales. The 2016 numbers have been adjusted to reflect this change in accounting policy. | ||||||||||
[11] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||||||||||
[12] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||||||||||
[13] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||||||||||
[14] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||||||||||
[15] | 2.As per January 1, 2018, ASML has adopted ASU No. 2016-16 Income Taxes (ASC 740) 'Intra-Entity Transfers of Assets Other Than Inventory', adjusted to retained earnings as of January 1, 2018. See Note 1 General information / summary of significant accounting policies. | ||||||||||
[16] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||||||||||
[17] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||||||||||
[18] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||||||||||
[19] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||||||||||
[20] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||||||||||
[21] | In 2018, depreciation and amortization includes EUR 315.4 million of depreciation of property, plant and equipment (2017: EUR 308.2 million, 2016: EUR 290.8 million), EUR 103.7 million of amortization of intangible assets (2017: EUR 105.5 million, 2016: EUR 63.5 million) and EUR 3.6 million of amortization of underwriting commissions and discount related to the bonds and credit facility (2017: EUR 3.8 million, 2016: EUR 2.6 million). | ||||||||||
[22] | In 2018, an amount of EUR 70.8 million (2017: EUR 45.8 million, 2016: EUR 22.8 million) of the disposal of property, plant and equipment relates to non-cash transfers to inventory. Since the transfers between inventory and property, plant and equipment are non-cash events, these are not reflected in these Consolidated Statements of Cash Flows. Additionally, in 2018, an amount of EUR 54.7 million of land and buildings was reclassified to other assets. See Note 13 Property, plant and equipment. | ||||||||||
[23] | 5.In 2018, an amount of EUR 59.8 million (2017: EUR 13.4 million, 2016: EUR 21.6 million) of the additions in property, plant and equipment relates to non-cash transfers from inventory. Since the transfers between inventory and property, plant and equipment are non-cash events, these are not reflected in these Consolidated Statements of Cash Flows. See Note 13 Property, plant and equipment. | ||||||||||
[24] | 6.In 2018, an amount of EUR 191.6 million (2017: EUR 36.5 million) of the purchase of property, plant and equipment relates to funding provided for tooling to our equity method investment. This funding is not reflected as addition in our movement schedule of property, plant and equipment, see Note 13 Property, plant and equipment, but is presented as part of the other assets. For further details regarding our equity method investments see Note 10 Equity method investments. | ||||||||||
[25] | 7.In 2018, an amount of EUR 24.5 million of the purchase of property, plant and equipment relates to exercising the purchase option of our headquarters in Veldhoven in June 2018. This cash outflow is not reflected as addition in our movement schedule of property, plant and equipment as it was previously recognized as property, plant and equipment as Koppelenweg I B.V. was a VIE. See Note 13 Property, plant and equipment. | ||||||||||
[26] | 8.In 2016, net proceeds from issuance of shares include an amount of EUR 536.6 million which is included in the consideration transferred for the acquisition of HMI. See Note 2 Business combinations. | ||||||||||
[27] | 9.In 2016, net proceeds from issuance of notes relate to the total cash proceeds of EUR 2,230.6 million (net of incurred transaction costs) from the issuance of our EUR 500 million 0.625 percent senior notes due 2022, our EUR 1,000 million 1.375 percent senior notes due 2026 and our EUR 750 million 1.625 percent senior notes due 2026. | ||||||||||
[28] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||||||||||
[29] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||||||||||
[30] | 2.As of January 1, 2017, ASML presents net sales with respect to metrology and inspection systems as part of net system sales instead of net service and field option sales. The 2016 numbers have been adjusted to reflect this change in accounting policy. | ||||||||||
[31] | As of January 1, 2017, ASML presents net sales with respect to metrology and inspection systems as part of net system sales instead of net service and field option sales. The 2016 numbers have been adjusted to reflect this change in accounting policy. |
Business Combinations - Additio
Business Combinations - Additional Information (Detail) | Nov. 22, 2016EUR (€) |
Business Combinations [Abstract] | |
Acquisition date | Nov. 22, 2016 |
Acquisition percentage | 100.00% |
Consideration transferred | € 3,000,000,000 |
Contingent consideration arrangements | 0 |
Consideration allocated to intangible assets | 606,700,000 |
Consideration allocated to other net assets | 259,200,000 |
Consideration allocated to goodwill | € 2,115,000,000 |
Fair Value Measurements - Finan
Fair Value Measurements - Financial Assets and Financial Liabilities Measured at Fair Value on Recurring Basis (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | ||
Assets measured at fair value | ||||
Derivative financial instruments | € 101.9 | € 115.7 | ||
Liabilities measured at fair value | ||||
Derivative financial instruments | 47.4 | 67.3 | [1] | |
Fair Value, Measurements, Recurring [Member] | ||||
Assets measured at fair value | ||||
Derivative financial instruments | 101.9 | [2] | 115.7 | [3] |
Money market funds | 2,342.6 | [4] | 1,329.4 | [5] |
Short-term Investments | 913.3 | [6] | 1,029.3 | [7] |
Total | 3,357.8 | 2,474.4 | ||
Liabilities measured at fair value | ||||
Derivative financial instruments | 47.4 | [2] | 67.3 | [3] |
Assets and Liabilities for which fair values are disclosed | ||||
Long-term debt | 3,119.4 | [8] | 3,193.2 | [9] |
Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||||
Assets measured at fair value | ||||
Derivative financial instruments | 0 | [2] | 0 | [3] |
Money market funds | 2,342.6 | [4] | 1,329.4 | [5] |
Short-term Investments | 0 | [6] | 0 | [7] |
Total | 2,342.6 | 1,329.4 | ||
Liabilities measured at fair value | ||||
Derivative financial instruments | 0 | [2] | 0 | [3] |
Assets and Liabilities for which fair values are disclosed | ||||
Long-term debt | 3,119.4 | [8] | 3,193.2 | [9] |
Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||||
Assets measured at fair value | ||||
Derivative financial instruments | 101.9 | [2] | 115.7 | [3] |
Money market funds | 0 | [4] | 0 | [5] |
Short-term Investments | 913.3 | [6] | 1,029.3 | [7] |
Total | 1,015.2 | 1,145 | ||
Liabilities measured at fair value | ||||
Derivative financial instruments | 47.4 | [2] | 67.3 | [3] |
Assets and Liabilities for which fair values are disclosed | ||||
Long-term debt | 0 | [8] | 0 | [9] |
Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||||
Assets measured at fair value | ||||
Derivative financial instruments | 0 | [2] | 0 | [3] |
Money market funds | 0 | [4] | 0 | [5] |
Short-term Investments | 0 | [6] | 0 | [7] |
Total | 0 | 0 | ||
Liabilities measured at fair value | ||||
Derivative financial instruments | 0 | [2] | 0 | [3] |
Assets and Liabilities for which fair values are disclosed | ||||
Long-term debt | € 0 | [8] | € 0 | [9] |
[1] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||
[2] | Derivative financial instruments consist of forward foreign exchange contracts and interest rate swaps. See Note 4 Financial risk management. | |||
[3] | Derivative financial instruments consist of forward foreign exchange contracts and interest rate swaps. See Note 4 Financial risk management. | |||
[4] | Money market funds are part of our cash and cash equivalents. See Note 5 Cash and cash equivalents and short-term investments. | |||
[5] | Money market funds are part of our cash and cash equivalents. | |||
[6] | Short-term investments consist of deposits with a remaining maturity longer than three months, but less than one year at the date of acquisition. See Note 5 Cash and cash equivalents and short-term investments. | |||
[7] | Short-term investments consist of deposits with a remaining maturity longer than three months, but less than one year at the date of acquisition. See Note 5 Cash and cash equivalents and short-term investments. | |||
[8] | Long-term debt relates to Eurobonds. See Note 16 Long-term debt. | |||
[9] | Long-term debt relates to Eurobonds. See Note 16 Long-term debt. |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Detail) - EUR (€) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Transfers between levels | € 0 | € 0 |
Impairment charges for goodwill and other intangible assets | € 0 | € 0 |
Financial Risk Management - Add
Financial Risk Management - Additional Information (Detail) $ in Millions, ¥ in Billions, $ in Billions | 12 Months Ended | ||||||||||
Dec. 31, 2018EUR (€) | Dec. 31, 2017EUR (€) | Dec. 31, 2016EUR (€) | Dec. 31, 2018TWD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2018JPY (¥) | Dec. 31, 2017TWD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2017JPY (¥) | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||||
Gain (loss) on financial instruments, net of taxes | € 20,100,000 | € (19,700,000) | € 8,400,000 | ||||||||
Derivative instruments release period | 12 months | ||||||||||
Gain (loss) on foreign currency cash flow hedge ineffectiveness | € 0 | 0 | 0 | ||||||||
Gain (loss) from reclassification adjustment from AOCI on derivatives | (11,800,000) | 3,100,000 | [1] | (2,400,000) | [1] | ||||||
Gain (loss) from derivative financial instruments measured at fair value | 24,200,000 | 126,400,000 | (81,200,000) | ||||||||
Net income [Member] | |||||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||||
Sensitivity analysis, impact of 1 percent point increase in interest rates | 10,300,000 | 2,600,000 | |||||||||
Sensitivity analysis, impact of 10 percent strengthening of foreign currency against the euro | (22,800,000) | (17,000,000) | |||||||||
Cost of Sales [Member] | |||||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, before Tax | 10,900,000 | (12,500,000) | 10,400,000 | ||||||||
Gain (loss) on financial instruments, net of taxes | 9,700,000 | (11,200,000) | 9,300,000 | ||||||||
Gain (Loss) on Derivative Used in Net Investment Hedge, after Tax | (11,900,000) | 13,900,000 | |||||||||
Sales [Member] | |||||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, before Tax | (1,400,000) | 0 | € 200,000 | ||||||||
Forward Foreign Exchange Contracts [Member] | |||||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||||
Financial instruments, notional amount | 134,100,000 | 1,146,200,000 | $ 8.8 | $ 348.6 | ¥ 6 | $ 16.6 | $ 796.3 | ¥ 7.4 | |||
United States of America, Dollars | Net income [Member] | |||||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||||
Sensitivity analysis, impact of 10 percent strengthening of foreign currency against the euro | (8,700,000) | (6,500,000) | |||||||||
Japan, Yen | Net income [Member] | |||||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||||
Sensitivity analysis, impact of 10 percent strengthening of foreign currency against the euro | (1,700,000) | (1,800,000) | |||||||||
Taiwan, New Dollars | Net income [Member] | |||||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||||
Sensitivity analysis, impact of 10 percent strengthening of foreign currency against the euro | (6,500,000) | (5,300,000) | |||||||||
All Other Types [Member] | Net income [Member] | |||||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||||
Sensitivity analysis, impact of 10 percent strengthening of foreign currency against the euro | (5,900,000) | (3,400,000) | |||||||||
Equity [Member] | |||||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||||
Sensitivity analysis, impact of 1 percent point increase in interest rates | 0 | 100,000 | |||||||||
Sensitivity analysis, impact of 10 percent strengthening of foreign currency against the euro | 11,500,000 | (5,800,000) | |||||||||
Equity [Member] | United States of America, Dollars | |||||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||||
Sensitivity analysis, impact of 10 percent strengthening of foreign currency against the euro | 28,200,000 | 15,600,000 | |||||||||
Equity [Member] | Japan, Yen | |||||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||||
Sensitivity analysis, impact of 10 percent strengthening of foreign currency against the euro | (4,000,000) | 900,000 | |||||||||
Equity [Member] | Taiwan, New Dollars | |||||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||||
Sensitivity analysis, impact of 10 percent strengthening of foreign currency against the euro | (12,700,000) | (22,300,000) | |||||||||
Equity [Member] | All Other Types [Member] | |||||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||||
Sensitivity analysis, impact of 10 percent strengthening of foreign currency against the euro | € 0 | € 0 | |||||||||
[1] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Financial Risk Management - Sum
Financial Risk Management - Summary of Notional Amounts and Estimated Fair Values of Financial Instruments (Detail) € in Millions, $ in Millions, ¥ in Billions, $ in Billions | Dec. 31, 2018EUR (€) | Dec. 31, 2018TWD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2018JPY (¥) | Dec. 31, 2017EUR (€) | Dec. 31, 2017TWD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2017JPY (¥) |
Forward Foreign Exchange Contracts [Member] | ||||||||
Derivative [Line Items] | ||||||||
Financial instruments, notional amount | € 134.1 | $ 8.8 | $ 348.6 | ¥ 6 | € 1,146.2 | $ 16.6 | $ 796.3 | ¥ 7.4 |
Forward foreign exchange contracts, fair Value | (2) | 18.1 | ||||||
Interest Rate Swaps [Member] | ||||||||
Derivative [Line Items] | ||||||||
Financial instruments, notional amount | 3,000 | 3,024.9 | ||||||
Interest rate swaps, fair Value | € 56.5 | € 30.3 |
Financial Risk Management - Der
Financial Risk Management - Derivative Financial Instruments Per Category (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | ||
Derivative [Line Items] | |||
Derivative Assets | € 101.9 | € 115.7 | |
Derivative Assets, Noncurrent | 59.7 | 65.2 | [1] |
Derivative Assets, Current | 42.2 | 50.5 | [2] |
Derivative Liabilities | 47.4 | 67.3 | [3] |
Derivative Liabilities, Noncurrent | 32 | 62.7 | |
Derivative Liabilities, Current | 15.4 | 4.6 | |
Cash Flow Hedges [Member] | Interest Rate Swap [Member] | |||
Derivative [Line Items] | |||
Derivative Assets | 0 | 0 | |
Derivative Liabilities | 0 | 0.6 | |
Cash Flow Hedges [Member] | Forward Foreign Exchange Contracts [Member] | |||
Derivative [Line Items] | |||
Derivative Assets | 6.5 | 0.7 | |
Derivative Liabilities | 0.9 | 2.6 | |
Net Investment Hedging [Member] | Forward Foreign Exchange Contracts [Member] | |||
Derivative [Line Items] | |||
Derivative Assets | 0 | 1.2 | |
Derivative Liabilities | 2.6 | 1.2 | |
Fair Value Hedges [Member] | Interest Rate Swap [Member] | |||
Derivative [Line Items] | |||
Derivative Assets | 88.5 | 93.6 | |
Derivative Assets, Noncurrent | 59.7 | 65.2 | |
Derivative Liabilities | 32 | 62.7 | |
Derivative Liabilities, Noncurrent | 32 | 62.7 | |
Other Hedges [Member] | Forward Foreign Exchange Contracts [Member] | |||
Derivative [Line Items] | |||
Derivative Assets | 6.9 | 20.2 | |
Derivative Liabilities | 11.9 | 0.2 | |
Cost of Sales [Member] | |||
Derivative [Line Items] | |||
Gain (Loss) on Derivative Used in Net Investment Hedge, after Tax | € (11.9) | € 13.9 | |
[1] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||
[2] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||
[3] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Cash and Cash Equivalents and_2
Cash and Cash Equivalents and Short-term Investments - Additional Information (Detail) - EUR (€) € in Millions | 12 Months Ended | |||||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | [2] | Dec. 31, 2015 | [2] | |||
Cash and Cash Equivalents [Line Items] | ||||||||
Cash and cash equivalents | € 3,121.1 | € 2,259 | [1],[2] | € 2,906.9 | € 2,458.7 | |||
Cash and cash equivalents maturity period | P3M | |||||||
Restricted cash and cash equivalents | € 0 | 0 | ||||||
Fair Value, Measurements, Recurring [Member] | ||||||||
Cash and Cash Equivalents [Line Items] | ||||||||
Money market funds | 2,342.6 | [3] | 1,329.4 | [4] | ||||
Deposits [Member] | ||||||||
Cash and Cash Equivalents [Line Items] | ||||||||
Cash and cash equivalents | 188.2 | 42.1 | ||||||
Interest-Bearing Bank Accounts [Member] | ||||||||
Cash and Cash Equivalents [Line Items] | ||||||||
Cash and cash equivalents | € 590.3 | € 887.5 | ||||||
[1] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||||
[2] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||||
[3] | Money market funds are part of our cash and cash equivalents. See Note 5 Cash and cash equivalents and short-term investments. | |||||||
[4] | Money market funds are part of our cash and cash equivalents. |
Cash and Cash Equivalents and_3
Cash and Cash Equivalents and Short-term Investments - Short-Term Investments (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Short Term Investments [Line Items] | |||
Recorded Basis | € 913.3 | € 1,029.3 | [1] |
[1] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Accounts Receivable - Accounts
Accounts Receivable - Accounts Receivable (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | [1] |
Receivables [Abstract] | |||
Accounts receivable, gross | € 1,504.9 | € 1,744.9 | |
Allowance for doubtful receivables | (6.7) | (4.6) | |
Accounts receivable, net | € 1,498.2 | € 1,740.3 | [2] |
[1] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||
[2] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Accounts Receivable - Allowance
Accounts Receivable - Allowance for Doubtful Receivables (Detail) - EUR (€) € in Millions | 12 Months Ended | |||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | [2] | |||
Allowance for Doubtful Accounts Receivable [Roll Forward] | ||||||
Allowance for doubtful receivables, Beginning Balance | [1] | € (4.6) | ||||
Addition for the year | (11.2) | € (7.8) | [2] | € (3.2) | ||
Allowance for doubtful receivables, Ending Balance | € (6.7) | € (4.6) | [1] | |||
[1] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[2] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Finance Receivables - Component
Finance Receivables - Components of Finance Receivables (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | [1] |
Receivables [Abstract] | |||
Finance receivables, gross | € 893.7 | € 225.1 | |
Unearned interest | (7.5) | (6.6) | |
Finance receivables, net | 886.2 | 218.5 | [2] |
Current portion of finance receivables, gross | 613.3 | 62.1 | |
Current portion of unearned interest | (2.2) | (3) | |
Non-current portion of finance receivables, net | € 275.1 | € 159.4 | [3] |
[1] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||
[2] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||
[3] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Finance Receivables - Finance R
Finance Receivables - Finance Receivables Due for Payment (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | [1] |
Receivables [Abstract] | |||
2,019 | € 613.3 | ||
2,020 | 250.6 | ||
2,021 | 7.2 | ||
2,022 | 22.6 | ||
2,023 | 0 | ||
Thereafter | 0 | ||
Finance receivables, gross | € 893.7 | € 225.1 | |
[1] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Finance Receivables - Additiona
Finance Receivables - Additional Information (Detail) - EUR (€) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Receivables [Abstract] | |||
Sales-type Lease, Selling Profit (Loss) | € 446,500,000 | € 247,400,000 | € 390,100,000 |
Sales-type Lease, Interest Income | 4,900,000 | 4,000,000 | 6,300,000 |
Expected credit losses from finance receivables recorded | € 0 | € 0 | € 0 |
Inventories - Inventories (Deta
Inventories - Inventories (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | [1] | Dec. 31, 2016 |
Inventory Disclosure [Abstract] | ||||
Raw materials | € 1,238.3 | € 826.8 | ||
Work-in-process | 1,537.5 | 1,430.7 | ||
Finished products | 1,105 | 1,048 | ||
Inventories, gross | 3,880.8 | 3,305.5 | ||
Provision to net realizable value | (441.3) | (349.9) | € (382.7) | |
Inventories, net | € 3,439.5 | € 2,955.6 | [2] | |
[1] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||
[2] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Inventories - Allowance for Obs
Inventories - Allowance for Obsolescence and/or Lower Market Value (Detail) - EUR (€) € in Millions | 12 Months Ended | |||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||||
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | ||||||
Balance at beginning of year | € (349.9) | [1] | € (382.7) | |||
Addition for the year | (218.2) | (120.1) | [2] | € (73) | [2] | |
Effect of changes in exchange rates | 4.2 | 7.9 | ||||
Utilization of the provision | 122.6 | 145 | ||||
Balance at end of year | € (441.3) | € (349.9) | [1] | € (382.7) | ||
[1] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[2] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Inventories - Additional Inform
Inventories - Additional Information (Detail) - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Inventory [Line Items] | |||||
Addition for the year | € (218.2) | € (120.1) | [1] | € (73) | [1] |
Cost of Sales [Member] | |||||
Inventory [Line Items] | |||||
Addition for the year | (207.9) | (101.3) | (69.2) | ||
Research and Development Costs [Member] | |||||
Inventory [Line Items] | |||||
Addition for the year | € (10.3) | € (18.8) | € (3.8) | ||
[1] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Other Assets - Other Current As
Other Assets - Other Current Assets (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Jul. 04, 2018 | Dec. 31, 2017 | [1] | Dec. 31, 2003 | |
Other Assets [Abstract] | ||||||
Advance payments to Carl Zeiss SMT GmbH, current | € 231.1 | € 111.3 | ||||
Prepaid expenses | 299.6 | 198.4 | ||||
Derivative financial instruments | 42.2 | 50.5 | ||||
VAT | 116 | 67.3 | ||||
Subordinated loan granted to lessor | 0 | [1],[2] | € 5.4 | 5.4 | [2] | € 5.4 |
Other assets | 83.7 | 77.6 | ||||
Other current assets | € 772.6 | [3] | € 510.5 | [4] | ||
[1] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[2] | 2.For further details on the loan granted to the lessor in respect of the Veldhoven headquarters see Note 13 Property, plant and equipment. | |||||
[3] | 2.As per January 1, 2018, ASML has adopted ASU No. 2016-16 Income Taxes (ASC 740) 'Intra-Entity Transfers of Assets Other Than Inventory', adjusted to retained earnings as of January 1, 2018. See Note 1 General information / summary of significant accounting policies. | |||||
[4] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Other Assets - Additional Infor
Other Assets - Additional Information (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Related Party Transaction [Line Items] | |||
Advance payments to Carl Zeiss SMT GmbH, non-current | € 533.4 | € 331.5 | [1] |
Contract balance related to imec | 107.5 | 15.6 | |
Prepaid income taxes on intercompany profit, not realized, current | 100.9 | 99.7 | |
Prepaid income taxes on intercompany profit, not realized, non-current | 0 | 133.9 | |
Zeiss High-NA Funding Commitment [Member] | |||
Related Party Transaction [Line Items] | |||
Advance payments to Carl Zeiss SMT GmbH, non-current | € 176.7 | € 39.1 | |
[1] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Other Assets - Other Non-Curren
Other Assets - Other Non-Current Assets (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | ||
Other Assets [Abstract] | ||||
Advance payments to Carl Zeiss SMT GmbH, non-current | € 533.4 | € 331.5 | [1] | |
Derivative financial instruments | 59.7 | 65.2 | [1] | |
Compensation plan assets | [1],[2] | 43.1 | 41.2 | |
Prepaid expenses | 4.6 | 140.4 | [1] | |
Non-current accounts receivable | 150.7 | 105.5 | [1] | |
Other assets | 14.6 | 24.4 | [1] | |
Other non-current assets | € 806.1 | € 708.2 | [1],[3] | |
[1] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||
[2] | For further details on compensation plan assets see Note 19 Employee benefits. | |||
[3] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Equity Method Investments Equ_3
Equity Method Investments Equity Method Investments - Additional Information (Details) - EUR (€) € in Millions | Jun. 29, 2017 | Nov. 03, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | [1] | ||
Schedule of Equity Method Investments [Line Items] | ||||||||
Profit (loss) related to equity method investments | € (6.2) | € 16.7 | [1] | € 0 | ||||
Proceeds from Equity Method Investment, Distribution, Return of Capital | [2] | 89.2 | 19.7 | |||||
Zeiss Commitment R&D and Capex investment Contractual Term | 6 years | |||||||
Zeiss Commitment Consideration already paid During the Year | 275.1 | 147.5 | ||||||
Contractual Obligation | [3] | 8,339.4 | ||||||
Equity Method Investments | € 915.8 | 982.2 | [4] | |||||
Carl Zeiss SMT Holding GmbH & Co. KG [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 19 years 5 months | |||||||
Equity Method Investment, Difference Between Carrying Amount and Underlying Equity | € 979.3 | |||||||
Equity Method Investment, Ownership Percentage | 24.90% | |||||||
equity method investment acquisition date | Jun. 29, 2017 | |||||||
Payments to Acquire Equity Method Investments | € 1,000 | |||||||
Payments to Acquire Equity Method Investments Transaction Costs | 2.6 | |||||||
Equity Method Investments | (10.7) | |||||||
Zeiss High-NA Funding Commitment [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Contractual Obligation - Additional Commitment | 144.9 | 325 | ||||||
Contractual Obligation - Cumulative Additional Commitment | 1,229.9 | |||||||
Contractual Obligation | € 760 | 795.3 | 925.5 | |||||
Pensions [Member] | Carl Zeiss SMT Holding GmbH & Co. KG [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Equity Method Investment, Difference Between Carrying Amount and Underlying Equity | € 19.9 | |||||||
Liability [Member] | Carl Zeiss SMT Holding GmbH & Co. KG [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Equity Method Investments | 0 | |||||||
Maximum exposure to loss [Member] | Carl Zeiss SMT Holding GmbH & Co. KG [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Equity Method Investments | 915.8 | |||||||
Equity method goodwill [Member] | Carl Zeiss SMT Holding GmbH & Co. KG [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Equity Method Investment, Difference Between Carrying Amount and Underlying Equity | 362.7 | |||||||
Other Intangible Assets [Member] | Carl Zeiss SMT Holding GmbH & Co. KG [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Equity Method Investment, Difference Between Carrying Amount and Underlying Equity | 560.7 | |||||||
In-process R&D [Member] | Carl Zeiss SMT Holding GmbH & Co. KG [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Equity Method Investment, Difference Between Carrying Amount and Underlying Equity | 50.7 | |||||||
Inventories [Member] | Carl Zeiss SMT Holding GmbH & Co. KG [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Equity Method Investment, Difference Between Carrying Amount and Underlying Equity | 73.7 | |||||||
Deferred Tax Liability [Member] | Carl Zeiss SMT Holding GmbH & Co. KG [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Equity Method Investment, Difference Between Carrying Amount and Underlying Equity | € (88.4) | |||||||
Share of net income (loss) after accounting policy alignment [Member] | Carl Zeiss SMT Holding GmbH & Co. KG [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Profit (loss) related to equity method investments | (80.9) | |||||||
basis difference amortization [Member] | Carl Zeiss SMT Holding GmbH & Co. KG [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Profit (loss) related to equity method investments | 26.7 | |||||||
inventory step-up release [Member] | Carl Zeiss SMT Holding GmbH & Co. KG [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Profit (loss) related to equity method investments | 37.3 | |||||||
Zeiss High-NA Funding Commitment [Member] | Assets [Member] | Carl Zeiss SMT Holding GmbH & Co. KG [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Outstanding indebtedness to ASML owed by or owing to any director or officer of ASML or any associate thereof | [5] | 342.9 | ||||||
Zeiss High-NA Funding Commitment [Member] | Liability [Member] | Carl Zeiss SMT Holding GmbH & Co. KG [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Outstanding indebtedness to ASML owed by or owing to any director or officer of ASML or any associate thereof | [5] | 0 | ||||||
Zeiss High-NA Funding Commitment [Member] | Maximum exposure to loss [Member] | Carl Zeiss SMT Holding GmbH & Co. KG [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Outstanding indebtedness to ASML owed by or owing to any director or officer of ASML or any associate thereof | [5] | 342.9 | ||||||
EUV agreement [Member] | Assets [Member] | Carl Zeiss SMT Holding GmbH & Co. KG [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Outstanding indebtedness to ASML owed by or owing to any director or officer of ASML or any associate thereof | [5] | 393.7 | ||||||
EUV agreement [Member] | Liability [Member] | Carl Zeiss SMT Holding GmbH & Co. KG [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Outstanding indebtedness to ASML owed by or owing to any director or officer of ASML or any associate thereof | [5] | 0 | ||||||
EUV agreement [Member] | Maximum exposure to loss [Member] | Carl Zeiss SMT Holding GmbH & Co. KG [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Outstanding indebtedness to ASML owed by or owing to any director or officer of ASML or any associate thereof | [5] | 393.7 | ||||||
DUV Agreements [Domain] | Assets [Member] | Carl Zeiss SMT Holding GmbH & Co. KG [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Outstanding indebtedness to ASML owed by or owing to any director or officer of ASML or any associate thereof | [5] | 31.5 | ||||||
DUV Agreements [Domain] | Liability [Member] | Carl Zeiss SMT Holding GmbH & Co. KG [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Outstanding indebtedness to ASML owed by or owing to any director or officer of ASML or any associate thereof | [5] | 0 | ||||||
DUV Agreements [Domain] | Maximum exposure to loss [Member] | Carl Zeiss SMT Holding GmbH & Co. KG [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Outstanding indebtedness to ASML owed by or owing to any director or officer of ASML or any associate thereof | [5] | 31.5 | ||||||
Supply Chain Support Costs [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Zeiss Commitment Consideration already paid During the Year | 8.5 | 2.6 | ||||||
Research and Development Costs [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Zeiss Commitment Consideration already paid During the Year | 74.8 | 55.8 | ||||||
Land, Buildings and Constructions [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Assets under construction in carrying amount | € 79 | € 94.6 | ||||||
[1] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||||
[2] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||||
[3] | 3.We have excluded unrecognized tax benefits for an amount of EUR 208.7 million as the amounts that will be settled in cash are not known and the timing of any payments is uncertain. | |||||||
[4] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||||
[5] | Amounts are included in advanced payments to Carl Zeiss SMT GmbH within other current assets and other non-current assets. See Note 9 Other assets. |
Goodwill - Goodwill (Detail)
Goodwill - Goodwill (Detail) - EUR (€) € in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | |||
Goodwill [Roll Forward] | ||||
Goodwill, Beginning balance | € 4,541.1 | [1] | € 4,873.9 | |
Effect of changes in exchange rates | 0 | (332.8) | ||
Goodwill, Ending balance | € 4,541.1 | € 4,541.1 | [1] | |
[1] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Goodwill - Additional Informati
Goodwill - Additional Information (Detail) | 12 Months Ended | |||
Dec. 31, 2018EUR (€)Reporting_Unit | Dec. 31, 2017EUR (€) | Dec. 31, 2016EUR (€) | ||
Goodwill [Line Items] | ||||
Number of reporting units | Reporting_Unit | 2 | |||
Goodwill | € 4,541,100,000 | € 4,541,100,000 | [1] | € 4,873,900,000 |
Impairment charges of goodwill | 0 | |||
RU ASML [Member] | ||||
Goodwill [Line Items] | ||||
Goodwill | 4,078,800,000 | 4,078,800,000 | ||
RU CLS [Member] | ||||
Goodwill [Line Items] | ||||
Goodwill | € 462,300,000 | € 462,300,000 | ||
[1] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Other Intangible Assets - Finit
Other Intangible Assets - Finite-Lived Other Intangible Assets (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Finite-lived Intangible Assets [Roll Forward] | |||
Cost, Beginning Balance | € 1,560.8 | € 1,636.9 | |
Finite-lived Intangible Assets Acquired | 42 | 15.4 | |
Disposals | 0 | ||
Effect of changes in exchange rates | 0 | (91.5) | |
Cost, Ending Balance | 1,602.8 | 1,560.8 | € 1,636.9 |
Accumulated amortization, Beginning Balance | 394.8 | 313.9 | |
Amortization | 103.7 | 105.5 | 63.5 |
Impairment of Intangible Assets, Finite-lived | 0.1 | ||
Impairment of Intangible Assets (Excluding Goodwill) | 0 | 0.1 | 0 |
Accumulated Amortization, Sale or Disposal of Finite-Lived Intangible Assets | 0 | ||
Accumulated amortization, Ending Balance | 498.8 | 394.8 | 313.9 |
Carrying amount | 1,104 | 1,166 | |
Accumulated Amortization [Member] | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Effect of changes in exchange rates | 0.3 | (24.7) | |
Brands [Member] | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Cost, Beginning Balance | 38.2 | 40.2 | |
Finite-lived Intangible Assets Acquired | 0 | 0 | |
Disposals | 0 | ||
Effect of changes in exchange rates | 1 | (2) | |
Cost, Ending Balance | 39.2 | 38.2 | 40.2 |
Accumulated amortization, Beginning Balance | 4.8 | 3.2 | |
Amortization | 1.9 | 2 | |
Impairment of Intangible Assets, Finite-lived | 0 | ||
Accumulated Amortization, Sale or Disposal of Finite-Lived Intangible Assets | 0 | ||
Accumulated amortization, Ending Balance | 7.4 | 4.8 | 3.2 |
Carrying amount | 31.8 | 33.4 | |
Brands [Member] | Accumulated Amortization [Member] | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Effect of changes in exchange rates | 0.7 | (0.4) | |
Intellectual Property [Member] | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Cost, Beginning Balance | 61.9 | 61.4 | |
Finite-lived Intangible Assets Acquired | 5 | 0.5 | |
Disposals | 0 | ||
Effect of changes in exchange rates | 2 | 0 | |
Cost, Ending Balance | 68.9 | 61.9 | 61.4 |
Accumulated amortization, Beginning Balance | 60 | 57.9 | |
Amortization | 1.2 | 2.1 | |
Impairment of Intangible Assets, Finite-lived | 0 | ||
Accumulated Amortization, Sale or Disposal of Finite-Lived Intangible Assets | 0 | ||
Accumulated amortization, Ending Balance | 62.8 | 60 | 57.9 |
Carrying amount | 6.1 | 1.9 | |
Intellectual Property [Member] | Accumulated Amortization [Member] | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Effect of changes in exchange rates | 1.6 | 0 | |
Developed Technology [Member] | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Cost, Beginning Balance | 1,199.9 | 1,264.7 | |
Finite-lived Intangible Assets Acquired | 0 | 0 | |
Disposals | 0 | ||
Effect of changes in exchange rates | 0 | (64.8) | |
Cost, Ending Balance | 1,199.9 | 1,199.9 | 1,264.7 |
Accumulated amortization, Beginning Balance | 264.2 | 199.1 | |
Amortization | 82.1 | 84.1 | |
Impairment of Intangible Assets, Finite-lived | 0 | ||
Accumulated Amortization, Sale or Disposal of Finite-Lived Intangible Assets | 0 | ||
Accumulated amortization, Ending Balance | 346.5 | 264.2 | 199.1 |
Carrying amount | 853.4 | 935.7 | |
Developed Technology [Member] | Accumulated Amortization [Member] | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Effect of changes in exchange rates | 0.2 | (19) | |
Customer Relationships [Member] | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Cost, Beginning Balance | 228.6 | 253.2 | |
Finite-lived Intangible Assets Acquired | 0 | 0 | |
Disposals | 0 | ||
Effect of changes in exchange rates | 0 | (24.6) | |
Cost, Ending Balance | 228.6 | 228.6 | 253.2 |
Accumulated amortization, Beginning Balance | 57.8 | 50 | |
Amortization | 12.7 | 13.4 | |
Impairment of Intangible Assets, Finite-lived | 0 | ||
Accumulated Amortization, Sale or Disposal of Finite-Lived Intangible Assets | 0 | ||
Accumulated amortization, Ending Balance | 70.5 | 57.8 | 50 |
Carrying amount | 158.1 | 170.8 | |
Customer Relationships [Member] | Accumulated Amortization [Member] | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Effect of changes in exchange rates | 0 | (5.6) | |
Other [Member] | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Cost, Beginning Balance | 32.2 | 17.4 | |
Finite-lived Intangible Assets Acquired | 37 | 14.9 | |
Disposals | 0 | ||
Effect of changes in exchange rates | (3) | (0.1) | |
Cost, Ending Balance | 66.2 | 32.2 | 17.4 |
Accumulated amortization, Beginning Balance | 8 | 3.7 | |
Amortization | 5.8 | 3.9 | |
Impairment of Intangible Assets, Finite-lived | 0.1 | ||
Accumulated Amortization, Sale or Disposal of Finite-Lived Intangible Assets | 0 | ||
Accumulated amortization, Ending Balance | 11.6 | 8 | € 3.7 |
Carrying amount | 54.6 | 24.2 | |
Other [Member] | Accumulated Amortization [Member] | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Effect of changes in exchange rates | € (2.2) | € 0.3 |
Other Intangible Assets - Addit
Other Intangible Assets - Additional Information (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Finite-Lived Intangible Assets [Line Items] | |||
Amortization | € 103.7 | € 105.5 | € 63.5 |
Impairment of Intangible Assets (Excluding Goodwill) | 0 | 0.1 | 0 |
Other intangible assets not yet available for use | 37 | 6 | |
Cost of Sales [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Amortization | 97.2 | 99.7 | 59.5 |
Research and Development Costs [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Amortization | 1.3 | 2.1 | 2.5 |
Selling, General and Administrative Expenses [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Amortization | € 5.2 | € 3.7 | € 1.5 |
Other Intangible Assets - Futur
Other Intangible Assets - Future Amortization Expenses (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | [1] |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
2,019 | € 105.1 | ||
2,020 | 104.5 | ||
2,021 | 103.7 | ||
2,022 | 100.7 | ||
2,023 | 93.5 | ||
Thereafter | 596.5 | ||
Amortization expenses | € 1,104 | € 1,166 | |
[1] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Property, Plant and Equipment -
Property, Plant and Equipment - Property, Plant and Equipment (Detail) - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Cost | |||||
Beginning Balance | € 3,433.9 | € 3,302.9 | |||
Acquisitions through business combinations | 0 | ||||
Additions | 441.9 | 320.3 | |||
Disposals | (180.2) | (109.3) | |||
Effect of changes in exchange rates | 10.7 | (80) | |||
Ending Balance | 3,706.3 | 3,433.9 | € 3,302.9 | ||
Accumulated depreciation and impairment | |||||
Beginning Balance | 1,833.1 | 1,615.7 | |||
Depreciation | 315.4 | 308.2 | 290.8 | ||
Impairment charges | 15.4 | 8.9 | |||
Disposals | (51.1) | (60.7) | |||
Effect of changes in exchange rates | 4 | (39) | |||
Ending Balance | 2,116.8 | 1,833.1 | 1,615.7 | ||
Carrying amount | |||||
Carrying amount | 1,589.5 | 1,600.8 | [1],[2] | 1,687.2 | [2] |
Land and buildings [Member] | |||||
Cost | |||||
Beginning Balance | 1,641.8 | 1,556.6 | |||
Acquisitions through business combinations | 0 | ||||
Additions | 119.6 | 115.2 | |||
Disposals | (57.2) | (0.4) | |||
Effect of changes in exchange rates | 5.6 | (29.6) | |||
Ending Balance | 1,709.8 | 1,641.8 | 1,556.6 | ||
Accumulated depreciation and impairment | |||||
Beginning Balance | 552.7 | 474.6 | |||
Depreciation | 92.8 | 87.9 | |||
Impairment charges | 1 | 0.2 | |||
Disposals | (2.5) | (0.2) | |||
Effect of changes in exchange rates | 2 | (9.8) | |||
Ending Balance | 646 | 552.7 | 474.6 | ||
Carrying amount | |||||
Carrying amount | 1,063.8 | 1,089.1 | |||
Machinery and Equipment [Member] | |||||
Cost | |||||
Beginning Balance | 1,159.9 | 1,133.1 | |||
Acquisitions through business combinations | 0 | ||||
Additions | 256.2 | 173.3 | |||
Disposals | (114.7) | (105.3) | |||
Effect of changes in exchange rates | 3.7 | (41.2) | |||
Ending Balance | 1,305.1 | 1,159.9 | 1,133.1 | ||
Accumulated depreciation and impairment | |||||
Beginning Balance | 742.4 | 642.9 | |||
Depreciation | 174.8 | 172.3 | |||
Impairment charges | 14.4 | 8.7 | |||
Disposals | (41.1) | (57.1) | |||
Effect of changes in exchange rates | 1.5 | (24.4) | |||
Ending Balance | 892 | 742.4 | 642.9 | ||
Carrying amount | |||||
Carrying amount | 413.1 | 417.5 | |||
Leasehold Improvements [Member] | |||||
Cost | |||||
Beginning Balance | 256.6 | 254.2 | |||
Acquisitions through business combinations | 0 | ||||
Additions | 21.5 | 6.9 | |||
Disposals | (3.4) | (0.1) | |||
Effect of changes in exchange rates | 0.5 | (4.4) | |||
Ending Balance | 275.2 | 256.6 | 254.2 | ||
Accumulated depreciation and impairment | |||||
Beginning Balance | 244.5 | 224.8 | |||
Depreciation | 19.2 | 21.5 | |||
Impairment charges | 0 | 0 | |||
Disposals | (3) | (0.1) | |||
Effect of changes in exchange rates | 0.2 | (1.7) | |||
Ending Balance | 260.9 | 244.5 | 224.8 | ||
Carrying amount | |||||
Carrying amount | 14.3 | 12.1 | |||
Furniture, Fixtures and Other Equipment [Member] | |||||
Cost | |||||
Beginning Balance | 375.6 | 359 | |||
Acquisitions through business combinations | 0 | ||||
Additions | 44.6 | 24.9 | |||
Disposals | (4.9) | (3.5) | |||
Effect of changes in exchange rates | 0.9 | (4.8) | |||
Ending Balance | 416.2 | 375.6 | 359 | ||
Accumulated depreciation and impairment | |||||
Beginning Balance | 293.5 | 273.4 | |||
Depreciation | 28.6 | 26.5 | |||
Impairment charges | 0 | 0 | |||
Disposals | (4.5) | (3.3) | |||
Effect of changes in exchange rates | 0.3 | (3.1) | |||
Ending Balance | 317.9 | 293.5 | € 273.4 | ||
Carrying amount | |||||
Carrying amount | € 98.3 | € 82.1 | |||
[1] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||||
[2] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Property, Plant and Equipment_2
Property, Plant and Equipment - Additional Information (Detail) - EUR (€) € in Millions | Jul. 04, 2018 | Jun. 29, 2018 | Jun. 28, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2003 | |||
Property, Plant and Equipment [Line Items] | ||||||||||
Land | € 94.6 | € 94 | ||||||||
Carrying amount | 1,589.5 | 1,600.8 | [1],[2] | € 1,687.2 | [2] | |||||
Disposal related to non-cash transfers to inventory | 70.8 | 45.8 | 22.8 | |||||||
Depreciation | 315.4 | 308.2 | 290.8 | |||||||
Finance Lease, Right-of-Use Asset | 7.5 | 10.2 | ||||||||
Finance Lease, Right-of-Use Asset, Amortization | 2.7 | 2.8 | 2.8 | |||||||
Finance Lease, Principal Payments | € 2.7 | € 2.8 | € 2.8 | |||||||
Finance Lease, Weighted Average Remaining Lease Term | 52 months | 59 months | 68 months | |||||||
Finance Lease, Weighted Average Discount Rate, Percent | 2.10% | 2.20% | 2.20% | |||||||
Carry amount of land and buildings owned by VIE | € 25.1 | € 25.2 | ||||||||
Acquisition date headquarters | Jun. 29, 2018 | |||||||||
Lessee, Finance Lease, Term of Contract | 15 years | |||||||||
StartDateOfPurchaseOption | 2,003 | |||||||||
Loans from shareholders | € 11.6 | |||||||||
Loan from bank relating to variable interest entity | 12.3 | |||||||||
Amount of granted loan relating to variable interest entity | 47.1 | |||||||||
Subordinated loan granted to lessor | € 5.4 | 0 | [3],[4] | 5.4 | [3],[4] | € 5.4 | ||||
Lessor, Direct Financing Lease, Lessee Option to Purchase Underlying Asset | 24.5 | |||||||||
Exercise date purchase option building | Jun. 28, 2018 | |||||||||
Redemption date subordinated loan to parent of lessor | Jul. 4, 2018 | |||||||||
Cost of Sales [Member] | ||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||
Depreciation | 191.6 | 195.7 | € 187.9 | |||||||
Research and Development Costs [Member] | ||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||
Depreciation | 105.9 | 101.7 | 76.8 | |||||||
Selling, General and Administrative Expenses [Member] | ||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||
Depreciation | 17.9 | 10.8 | 26.1 | |||||||
Land, Buildings and Constructions [Member] | ||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||
Assets under construction in carrying amount | 79 | 94.6 | ||||||||
Carrying amount | 1,063.8 | 1,089.1 | ||||||||
Depreciation | 92.8 | 87.9 | ||||||||
Machinery and Equipment [Member] | ||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||
Assets under construction in carrying amount | 39.1 | 29.3 | ||||||||
Carrying amount | 413.1 | 417.5 | ||||||||
Depreciation | 174.8 | 172.3 | ||||||||
Machinery and Equipment [Member] | Property Subject to Evaluation and Operating Lease [Member] | ||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||
Carrying amount | 17.1 | 8.1 | ||||||||
Leasehold Improvements [Member] | ||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||
Assets under construction in carrying amount | 7.8 | 2.3 | ||||||||
Carrying amount | 14.3 | 12.1 | ||||||||
Depreciation | 19.2 | 21.5 | ||||||||
Furniture, Fixtures and Other Equipment [Member] | ||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||
Assets under construction in carrying amount | 9.3 | 7 | ||||||||
Carrying amount | 98.3 | 82.1 | ||||||||
Depreciation | 28.6 | 26.5 | ||||||||
Non-Cash Transfers From Inventory [Member] | ||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||
Additions related to non-cash transfers | € (59.8) | € (13.4) | € (21.6) | |||||||
[1] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||||||
[2] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||||||
[3] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||||||
[4] | 2.For further details on the loan granted to the lessor in respect of the Veldhoven headquarters see Note 13 Property, plant and equipment. |
Right-of-use assets and lease_3
Right-of-use assets and lease liabilities Right-of-use assets and lease liabilities (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Cash outflow for operating leases [Abstract] | |||
Operating Lease, Payments | € 67.1 | € 54.5 | € 50.3 |
Operating Lease, Weighted Average Remaining Lease Term | 60 months | 57 months | 65 months |
Operating Lease, Weighted Average Discount Rate, Percent | 2.10% | 2.20% | 2.20% |
Right-of-use assets and lease_4
Right-of-use assets and lease liabilities Right-of-use assets operating lease per category (Details) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Right-of-use assets operating lease category [Line Items] | |||
Right-of-Use Assets, Non-Current | € 137.6 | € 113.7 | [1] |
Properties [Member] | |||
Right-of-use assets operating lease category [Line Items] | |||
Right-of-Use Assets, Non-Current | 105.1 | 81.7 | |
Cars [Member] | |||
Right-of-use assets operating lease category [Line Items] | |||
Right-of-Use Assets, Non-Current | 11.9 | 10.1 | |
Warehouses [Member] | |||
Right-of-use assets operating lease category [Line Items] | |||
Right-of-Use Assets, Non-Current | 14.5 | 16.7 | |
Other [Member] | |||
Right-of-use assets operating lease category [Line Items] | |||
Right-of-Use Assets, Non-Current | € 6.1 | € 5.2 | |
[1] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Right-of-use assets and lease_5
Right-of-use assets and lease liabilities Lease liabilities operating leases current and non-current (Details) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Lease liabilities operating leases [Abstract] | |||
Operating Lease, Liability, Current | € 46.3 | € 32.8 | |
Operating Lease, Liability, Noncurrent | 93.7 | 81 | |
Operating Lease, Liability | € 140 | € 113.8 | [1] |
[1] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Right-of-use assets and lease_6
Right-of-use assets and lease liabilities Depreciation related to operating leases (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Depreciation operating leased assets [Line Items] | |||
Depreciation related to operating leases | € 67.1 | € 54.5 | € 50.3 |
Properties [Member] | |||
Depreciation operating leased assets [Line Items] | |||
Depreciation related to operating leases | 40.2 | 29.9 | 31 |
Cars [Member] | |||
Depreciation operating leased assets [Line Items] | |||
Depreciation related to operating leases | 7.4 | 7.1 | 7.1 |
Warehouses [Member] | |||
Depreciation operating leased assets [Line Items] | |||
Depreciation related to operating leases | 7.1 | 5.9 | 5.1 |
Other [Member] | |||
Depreciation operating leased assets [Line Items] | |||
Depreciation related to operating leases | € 12.4 | € 11.6 | € 7.1 |
Accrued and Other Liabilities -
Accrued and Other Liabilities - Accrued and Other Liabilities (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Costs to be paid [Line Items] | ||||
Costs to be paid | € 154.8 | € 208.7 | [1] | |
Personnel related items | 544.4 | 427.6 | [1] | |
Derivative financial instruments | 47.4 | 67.3 | [1] | |
Lease liabilities | 140 | 113.8 | [1] | |
Standard warranty reserve | 59.8 | 59.7 | [1] | € 36.5 |
Provisions | 160.3 | 21 | ||
Other | 6.4 | 6.7 | [1] | |
Accrued and other liabilities | 1,113.1 | 904.8 | [1] | |
Less: non-current portion of accrued and other liabilities | 201.7 | 279.3 | [1],[2] | |
Current portion of accrued and other liabilities | 911.4 | 625.5 | [1],[2] | |
expected losses for upgrading EUV in the field [Member] | ||||
Costs to be paid [Line Items] | ||||
Costs to be paid | € 14.6 | € 84.5 | ||
[1] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||
[2] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Accrued and Other Liabilities_2
Accrued and Other Liabilities - Additional Information (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Costs to be paid [Line Items] | |||
Accrued Liabilities | € 154.8 | € 208.7 | [1] |
expected losses for upgrading EUV in the field [Member] | |||
Costs to be paid [Line Items] | |||
Accrued Liabilities | € 14.6 | € 84.5 | |
[1] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Accrued and Other Liabilities_3
Accrued and Other Liabilities - Changes in Standard Warranty Reserve (Detail) - EUR (€) € in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | |||
Movement in Standard Product Warranty Accrual [Roll Forward] | ||||
Balance at beginning of year | € 59.7 | [1] | € 36.5 | |
Additions for the year | 79.7 | 74.3 | ||
Utilization of the reserve | (59.8) | (35.4) | ||
Release of the reserve | (17.8) | (14.3) | ||
Effect of exchange rates | (2) | (1.4) | ||
Balance at end of year | € 59.8 | € 59.7 | [1] | |
[1] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Long-term Debt - Components of
Long-term Debt - Components of Long-Term Debt (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | ||
Debt Instrument [Line Items] | ||||
Loan headquarter building | [1] | € 0 | € 25.2 | |
Other | 9 | 11.8 | ||
Long-term debt | 3,026.5 | 3,025.3 | ||
Less: current portion of long-term debt | 0 | 25.2 | [2] | |
Non-current portion of long-term debt | 3,026.5 | 3,000.1 | [2] | |
0.625 Percent Senior Notes Due 2022 [Member] [Domain] | ||||
Debt Instrument [Line Items] | ||||
Principal amount | 494.5 | 487.8 | ||
3.375 Percent Senior Notes Due 2023 [Member] | ||||
Debt Instrument [Line Items] | ||||
Principal amount | 816 | 820.6 | ||
1.375 Percent Senior Notes Due 2026 [Member] [Domain] | ||||
Debt Instrument [Line Items] | ||||
Principal amount | 964.6 | 947.8 | ||
One Point Six Two Five Percent Senior Notes Due Two Thousand Twenty Seven [Member] [Domain] [Domain] | ||||
Debt Instrument [Line Items] | ||||
Principal amount | € 742.4 | € 732.1 | ||
[1] | This loan related to our variable interest entity, see Note 13 Property, plant and equipment. | |||
[2] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Long-term Debt - Principal Repa
Long-term Debt - Principal Repayments and Other Borrowing Arrangements (Detail) € in Millions | Dec. 31, 2018EUR (€) |
Debt Disclosure [Abstract] | |
2,019 | € 1.8 |
2,020 | 1.8 |
2,021 | 1.8 |
2,022 | 501.8 |
2,023 | 750.3 |
Thereafter | 1,750 |
Long-term debt | 3,007.5 |
Less: current portion of long-term debt | 1.8 |
Non-current portion of long-term debt | € 3,005.7 |
Long-term Debt - Summary of Car
Long-term Debt - Summary of Carrying Amount of Outstanding Eurobonds and Fair Value of Interest Rate Swaps (Detail) - Eurobonds [Member] - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Debt Instrument [Line Items] | |||
Principal amount | € 3,017.5 | € 2,988.3 | |
Amortized Costs Amount [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount | 2,980 | 2,976.6 | |
Fair Value Adjustment Interest Rate Swaps [Member] | |||
Debt Instrument [Line Items] | |||
Carrying amount | [1] | € 37.5 | € 11.7 |
[1] | 1.The fair value of the interest rate swaps excludes accrued interest. |
Long-term Debt - Additional Inf
Long-term Debt - Additional Information (Detail) - EUR (€) € in Millions | Nov. 30, 2016 | Jul. 07, 2016 | Sep. 19, 2013 | Dec. 31, 2018 |
3.375 Percent Senior Notes Due 2023 [Member] | ||||
Debt Instrument [Line Items] | ||||
Principal amount | € 750 | |||
Interest rate on principal amount | 3.375% | |||
Redemption price of notes | 100.00% | |||
Due date of redemption Eurobond | Sep. 19, 2023 | |||
Debt Instrument, Issuance Date | Sep. 19, 2013 | |||
1.375 Percent Senior Notes Due 2026 [Member] [Domain] | ||||
Debt Instrument [Line Items] | ||||
Principal amount | € 1,000 | |||
Interest rate on principal amount | 1.375% | |||
Redemption price of notes | 100.00% | |||
Due date of redemption Eurobond | Jul. 7, 2026 | |||
Debt Instrument, Issuance Date | Jul. 7, 2016 | |||
One Point Six Two Five Percent Senior Notes Due Two Thousand Twenty Seven [Member] [Domain] [Domain] | ||||
Debt Instrument [Line Items] | ||||
Principal amount | € 750 | |||
Interest rate on principal amount | 1.625% | |||
Redemption price of notes | 100.00% | |||
Due date of redemption Eurobond | May 28, 2027 | |||
Debt Instrument, Issuance Date | Nov. 30, 2016 | |||
0.625 Percent Senior Notes Due 2022 [Member] [Domain] | ||||
Debt Instrument [Line Items] | ||||
Principal amount | € 500 | |||
Interest rate on principal amount | 0.625% | |||
Redemption price of notes | 100.00% | |||
Due date of redemption Eurobond | Jul. 7, 2022 | |||
Debt Instrument, Issuance Date | Jul. 7, 2016 |
Long-term Debt - Estimated Fair
Long-term Debt - Estimated Fair Value of Eurobonds (Detail) - Eurobonds [Member] - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Debt Instrument [Line Items] | |||
Principal amount | € 3,000 | € 3,000 | |
Carrying amount | 3,017.5 | 2,988.3 | |
Fair value | [1] | € 3,119.4 | € 3,193.2 |
[1] | 1.Source: Bloomberg Finance LP. |
Lines of Credit - Additional In
Lines of Credit - Additional Information (Detail) - EUR (€) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Line of Credit Facility [Line Items] | ||
Line of Credit Facility, Expiration Date | Dec. 31, 2022 | |
Credit Facility [Member] | ||
Line of Credit Facility [Line Items] | ||
Available credit facility | € 700,000,000 | € 700,000,000 |
Amount outstanding under credit facility | € 0 | € 0 |
Commitments, Contingencies an_3
Commitments, Contingencies and Guarantees - Contractual Obligations (Detail) - EUR (€) € in Millions | Nov. 03, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | |
Recorded Unconditional Purchase Obligation [Line Items] | ||||
Zeiss Commitment R&D and Capex investment Contractual Term | 6 years | |||
Contractual obligations | [1] | € 8,339.4 | ||
1 year | [1] | 4,040.2 | ||
2 year | [1] | 696.1 | ||
3 year | [1] | 207.6 | ||
4 year | [1] | 656.3 | ||
5 year | [1] | 851.5 | ||
After 5 years | [1] | 1,887.7 | ||
Zeiss High-NA Funding Commitment [Member] | ||||
Recorded Unconditional Purchase Obligation [Line Items] | ||||
Contractual obligations | € 760 | 795.3 | € 925.5 | |
1 year | 351.8 | |||
2 year | 282 | |||
3 year | 87 | |||
4 year | 46 | |||
5 year | 28.5 | |||
After 5 years | 0 | |||
Long-term Debt [Member] | ||||
Recorded Unconditional Purchase Obligation [Line Items] | ||||
Contractual obligations | [2] | 3,383.6 | ||
1 year | [2] | 57.3 | ||
2 year | [2] | 57.2 | ||
3 year | [2] | 57.2 | ||
4 year | [2] | 556.5 | ||
5 year | [2] | 802.3 | ||
After 5 years | [2] | 1,853.1 | ||
Operating Lease Obligations [Member] | ||||
Recorded Unconditional Purchase Obligation [Line Items] | ||||
Contractual obligations | [3] | 140 | ||
1 year | [3] | 36.7 | ||
2 year | [3] | 32.3 | ||
3 year | [3] | 25.8 | ||
4 year | [3] | 19.9 | ||
5 year | [3] | 11.9 | ||
After 5 years | [3] | 13.4 | ||
Purchase Obligations [Member] | ||||
Recorded Unconditional Purchase Obligation [Line Items] | ||||
Contractual obligations | 4,020.5 | |||
1 year | 3,594.4 | |||
2 year | 324.6 | |||
3 year | 37.6 | |||
4 year | 33.9 | |||
5 year | 8.8 | |||
After 5 years | € 21.2 | |||
[1] | 3.We have excluded unrecognized tax benefits for an amount of EUR 208.7 million as the amounts that will be settled in cash are not known and the timing of any payments is uncertain. | |||
[2] | 1.See Note 16 Long-term debt for the amounts excluding interest expense. | |||
[3] | 2.See Note 14 Right-of-use assets and lease liabilities for details. |
Commitments, Contingencies an_4
Commitments, Contingencies and Guarantees - Additional Information (Detail) - EUR (€) € in Millions | Nov. 03, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | ||||
UnrecognizedTaxBenefitsIncludingInterestAndPenalties | € 208.7 | |||
Contractual Obligation | [1] | 8,339.4 | ||
Zeiss Commitment R&D and Capex investment Contractual Term | 6 years | |||
Zeiss Commitment Consideration already paid During the Year | 275.1 | € 147.5 | ||
Non-committed gurantee facility | € 85 | |||
[1] | 3.We have excluded unrecognized tax benefits for an amount of EUR 208.7 million as the amounts that will be settled in cash are not known and the timing of any payments is uncertain. |
Employee Benefits - Bonus Plan
Employee Benefits - Bonus Plan Expenses (Detail) - EUR (€) € in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Bonus Expenses [Line Items] | ||||
Wages and salaries | € 1,777.9 | € 1,492.8 | € 1,279.6 | |
Deferred Bonus [Member] | ||||
Bonus Expenses [Line Items] | ||||
Wages and salaries | 69.1 | 55.5 | 52 | |
Deferred Bonus [Member] | Other Management [Member] | ||||
Bonus Expenses [Line Items] | ||||
Wages and salaries | 64.6 | 51.7 | 48.5 | |
Deferred Bonus [Member] | Management [Member] | ||||
Bonus Expenses [Line Items] | ||||
Wages and salaries | [1] | € 4.5 | € 3.8 | € 3.5 |
[1] | 1.Includes all members that served on the Board of Management throughout the year. |
Employee Benefits - Additional
Employee Benefits - Additional Information (Detail) € in Millions | 12 Months Ended | |||||||
Dec. 31, 2019 | Dec. 31, 2018EUR (€)CompaniesPersonRate | Dec. 31, 2017EUR (€) | Dec. 31, 2016EUR (€) | Dec. 31, 2015 | Dec. 31, 2014 | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Multiemployer Plan, Contributions by Employer | € 74 | € 62.4 | € 54.9 | |||||
Wages and salaries | € 1,777.9 | 1,492.8 | 1,279.6 | |||||
Senior management (excluding Board of Management) bonus, lower range | 0.00% | |||||||
Senior management (excluding Board of Management) bonus, higher range | 112.50% | |||||||
Share-based payments | € 46.3 | 53.1 | [1] | 47.7 | [1] | |||
Tax benefit recognized related to recognized share-based compensation costs | 5.6 | 8.7 | 10 | |||||
Total compensation costs to be recognized in future periods | € 94.2 | € 78.5 | € 83.2 | |||||
Weighted average period to be recognized in future in years | 1 year 8 months | 1 year 9 months 11 days | 1 year 11 months 9 days | |||||
Period after deferral that participants elect to receive funds in future periods after earlier of the employment termination or their withdrawal election | 3 years | |||||||
Company's liability under deferred compensation plans | € 46.8 | € 43.6 | ||||||
Number of Dutch payroll employees in multi-employer union plan | Person | 10,027 | |||||||
Number of companies which are covered by Multi Employer Plan | Companies | 1,400 | |||||||
Number of contributing members in multi-employer plan | Person | 154,000 | |||||||
Contribution to the multi-employer union plan, percentage | 9.60% | |||||||
Multi employer plan coverage ratio | 101.30% | 100.10% | ||||||
Percentage of contributions | 23.60% | 24.10% | ||||||
Percentage of contributions in year two | 23.60% | |||||||
Percentage of contributions in year three | 23.60% | |||||||
Percentage of contributions in year four | 23.60% | |||||||
Employee Plan [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Profit sharing bonus, lower range | 0.00% | |||||||
Profit sharing bonus, higher range | 20.00% | |||||||
Individual Variable Pay and Sales Reward [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Wages and salaries | € 86.5 | € 40.3 | € 33.8 | |||||
Employee Stock Option Plan [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Service condition, period | 3 years | |||||||
Expiration period of unexercised stock options | 10 years | |||||||
Employee Purchase Plan [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Maximum percentage of annual gross base salary for which an employee can participate in stock option and share plan | 10.00% | |||||||
Minimum period for retaining the shares or stock options to qualify for cash bonus (months) | 12 months | |||||||
Percentage of bonus on initial participation amount after minimum period for retaining the shares or stock options | 20.00% | |||||||
Deferred Profit Sharing [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Wages and salaries | € 82.6 | 126 | 93.3 | |||||
Deferred Bonus [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Wages and salaries | € 69.1 | € 55.5 | € 52 | |||||
Option Plans [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Vesting period of granted shares options | 3 years | |||||||
Scenario, Forecast [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Multiemployer Plans Collective Bargaining Arrangement Percentage Of Contributions Year Five | 23.60% | |||||||
[1] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Employee Benefits - Summary of
Employee Benefits - Summary of Share Plans (Detail) € / shares in Units, $ / shares in Units, € in Millions, $ in Millions | 12 Months Ended | |||||
Dec. 31, 2018EUR (€)€ / shares | Dec. 31, 2018USD ($)$ / shares | Dec. 31, 2017EUR (€)€ / shares | Dec. 31, 2017USD ($)$ / shares | Dec. 31, 2016EUR (€)€ / shares | Dec. 31, 2016USD ($)$ / shares | |
Euro [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Total fair value at vesting date of shares vested during the year (in millions) | € | € 46.4 | € 49.9 | € 25.5 | |||
Weighted average fair value of shares granted | € / shares | € 161.63 | € 125.16 | € 87.21 | |||
USD denominated [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Total fair value at vesting date of shares vested during the year (in millions) | $ | $ 61.6 | $ 53.3 | $ 31.3 | |||
Weighted average fair value of shares granted | $ / shares | $ 187.98 | $ 130.77 | $ 96 |
Employee Benefits - Employee Sh
Employee Benefits - Employee Share Issuances (Detail) | 12 Months Ended | |||||
Dec. 31, 2018€ / sharesshares | Dec. 31, 2018$ / sharesshares | Dec. 31, 2017€ / sharesshares | Dec. 31, 2017$ / sharesshares | Dec. 31, 2016€ / shares | Dec. 31, 2016$ / shares | |
Euro [Member] | ||||||
Number of shares | ||||||
Conditional shares outstanding at January 1, 2018 | 782,090 | 782,090 | ||||
Granted | 288,679 | 288,679 | ||||
Vested | (293,075) | (293,075) | ||||
Forfeited | (56,867) | (56,867) | ||||
Conditional shares outstanding at December 31, 2018 | 720,827 | 720,827 | 782,090 | 782,090 | ||
Weighted average fair value at grant date (EUR and USD-denominated) | ||||||
Conditional shares outstanding at January 1, 2015 | € / shares | € 99.10 | |||||
Granted | € / shares | 161.63 | € 125.16 | € 87.21 | |||
Vested | € / shares | 108.10 | |||||
Forfeited | € / shares | 96.98 | |||||
Conditional shares outstanding at December 31, 2015 | € / shares | € 120.73 | € 99.10 | ||||
USD denominated [Member] | ||||||
Number of shares | ||||||
Conditional shares outstanding at January 1, 2018 | 836,554 | 836,554 | ||||
Granted | 348,997 | 348,997 | ||||
Vested | (315,333) | (315,333) | ||||
Forfeited | (209,036) | (209,036) | ||||
Conditional shares outstanding at December 31, 2018 | 661,182 | 661,182 | 836,554 | 836,554 | ||
Weighted average fair value at grant date (EUR and USD-denominated) | ||||||
Conditional shares outstanding at January 1, 2015 | $ / shares | $ 107.61 | |||||
Granted | $ / shares | 187.98 | $ 130.77 | $ 96 | |||
Vested | $ / shares | 113.96 | |||||
Forfeited | $ / shares | 108.33 | |||||
Conditional shares outstanding at December 31, 2015 | $ / shares | $ 146.78 | $ 107.61 |
Employee Benefits - Assumption
Employee Benefits - Assumption of Black-Scholes Option Valuation of Fair Value of Company's Stock Options (Detail) | 12 Months Ended |
Dec. 31, 2016€ / shares | |
Compensation Related Costs [Abstract] | |
Weighted average share price (in EUR) | € 88.3 |
Volatility (in percentage) | 27.20% |
Expected life (in years) | 5 years 8 months 12 days |
Expected dividend yield (in EUR) | € 2.94 |
Employee Benefits - Stock Optio
Employee Benefits - Stock Options (Detail) € / shares in Units, $ / shares in Units, € in Millions, $ in Millions | 12 Months Ended | ||||||||
Dec. 31, 2018EUR (€)€ / shares | Dec. 31, 2018USD ($)$ / shares | Dec. 31, 2017EUR (€)€ / shares | Dec. 31, 2017USD ($)$ / shares | Dec. 31, 2016EUR (€)€ / shares | Dec. 31, 2016USD ($)$ / shares | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Euro [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Weighted average fair value of stock options granted | € / shares | € 0 | € 0 | € 20.34 | ||||||
Weighted average share price at the exercise date of stock options | € / shares | € 169.68 | € 132.67 | € 98.08 | ||||||
Aggregate intrinsic value of stock options exercised (in millions) | € | € 13.6 | € 12.5 | € 11.5 | ||||||
Weighted average remaining contractual term of currently exercisable options (in years) | 3 years 21 months 3 days | 3 years 21 months 3 days | 3 years 9 months 18 days | 3 years 9 months 18 days | 3 years 8 months 8 days | 3 years 8 months 8 days | |||
Aggregate intrinsic value of exercisable stock options (in millions) | € | € 8.9 | € 21 | € 22.3 | ||||||
Aggregate intrinsic value of outstanding stock options (in millions) | € | € 9 | € 21.2 | € 22.7 | ||||||
USD denominated [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Weighted average fair value of stock options granted | $ / shares | $ 0 | $ 0 | $ 22.69 | ||||||
Weighted average share price at the exercise date of stock options | $ / shares | $ 201.01 | $ 148.48 | $ 100.68 | ||||||
Aggregate intrinsic value of stock options exercised (in millions) | $ | $ 7.6 | $ 4.8 | $ 4.1 | ||||||
Weighted average remaining contractual term of currently exercisable options (in years) | 3 years 26 months 13 days | 3 years 26 months 13 days | 4 years 5 months 26 days | 4 years 5 months 26 days | 4 years 8 months 16 days | 4 years 8 months 16 days | |||
Aggregate intrinsic value of exercisable stock options (in millions) | $ | $ 5.2 | $ 13.1 | $ 8.9 | ||||||
Aggregate intrinsic value of outstanding stock options (in millions) | $ | $ 5.2 | $ 13.2 | $ 8.9 |
Employee Benefits - Stock Opt_2
Employee Benefits - Stock Option Transactions (Detail) - 12 months ended Dec. 31, 2018 | € / sharesshares | € / shares$ / sharesshares | $ / sharesshares |
Euro [Member] | |||
Number of shares | |||
Outstanding, January 1, 2018 | 207,796 | 207,796 | |
Granted | 0 | 0 | |
Exercised | (90,710) | (90,710) | |
Forfeited | 0 | 0 | |
Expired | (197) | (197) | |
Outstanding, December 31, 2018 | 116,889 | 116,889 | |
Exercisable, December 31, 2015 | 116,692 | 116,692 | 116,692 |
Weighted average fair value at grant date (EUR and USD-denominated) | |||
Outstanding, January 1, 2018 | € / shares | € 42.67 | ||
Granted | € / shares | 0 | ||
Exercised | € / shares | 19.86 | ||
Forfeited | € / shares | 0 | ||
Expired | € / shares | 0 | ||
Outstanding, December 31, 2018 | € / shares | 60.41 | ||
Exercisable, Weighted average exercise price | € / shares | € 60.49 | € 60.49 | |
USD denominated [Member] | |||
Number of shares | |||
Outstanding, January 1, 2018 | 118,659 | 118,659 | |
Granted | 0 | 0 | |
Exercised | (46,208) | (46,208) | |
Forfeited | 0 | 0 | |
Expired | (2,152) | (2,152) | |
Outstanding, December 31, 2018 | 70,299 | 70,299 | |
Exercisable, December 31, 2015 | 70,299 | 70,299 | 70,299 |
Weighted average fair value at grant date (EUR and USD-denominated) | |||
Outstanding, January 1, 2018 | $ / shares | € 62.85 | ||
Granted | $ / shares | 0 | ||
Exercised | $ / shares | 36.65 | ||
Forfeited | $ / shares | 0 | ||
Expired | $ / shares | 0 | ||
Outstanding, December 31, 2018 | $ / shares | € 81.43 | ||
Exercisable, Weighted average exercise price | $ / shares | $ 81.43 |
Employee Benefits - Outstanding
Employee Benefits - Outstanding Stock Options (Detail) - 12 months ended Dec. 31, 2018 | € / sharesshares | $ / sharesshares |
Euro [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Number of outstanding options | shares | 116,889 | 116,889 |
Weighted average remaining contractual life of outstanding options (years) | 4 years 9 months 5 days | 4 years 9 months 5 days |
United States of America, Dollars | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Number of outstanding options | shares | 70,299 | 70,299 |
Weighted average remaining contractual life of outstanding options (years) | 5 years 2 months 13 days | 5 years 2 months 13 days |
0 - 10 [Member] | Euro [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Range of exercise prices, minimum | € / shares | € 0 | |
Range of exercise prices, maximum | € / shares | 10 | |
0 - 10 [Member] | United States of America, Dollars | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Range of exercise prices, minimum | $ / shares | $ 0 | |
Range of exercise prices, maximum | $ / shares | 10 | |
10 - 15 [Member] | Euro [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Range of exercise prices, minimum | € / shares | 10 | |
Range of exercise prices, maximum | € / shares | 15 | |
10 - 15 [Member] | United States of America, Dollars | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Range of exercise prices, minimum | $ / shares | 10 | |
Range of exercise prices, maximum | $ / shares | $ 15 | |
15 - 20 [Member] | Euro [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Range of exercise prices, minimum | € / shares | 15 | |
Range of exercise prices, maximum | € / shares | € 20 | |
Number of outstanding options | shares | 9,347 | 9,347 |
Weighted average remaining contractual life of outstanding options (years) | 9 months 16 days | 9 months 16 days |
15 - 20 [Member] | United States of America, Dollars | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Range of exercise prices, minimum | $ / shares | $ 15 | |
Range of exercise prices, maximum | $ / shares | $ 20 | |
Number of outstanding options | shares | 0 | 0 |
Weighted average remaining contractual life of outstanding options (years) | 0 years | 0 years |
20 - 25 [Member] | Euro [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Range of exercise prices, minimum | € / shares | € 20 | |
Range of exercise prices, maximum | € / shares | € 25 | |
Number of outstanding options | shares | 11,227 | 11,227 |
Weighted average remaining contractual life of outstanding options (years) | 1 year 9 months 20 days | 1 year 9 months 20 days |
20 - 25 [Member] | United States of America, Dollars | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Range of exercise prices, minimum | $ / shares | $ 20 | |
Range of exercise prices, maximum | $ / shares | $ 25 | |
Number of outstanding options | shares | 0 | 0 |
Weighted average remaining contractual life of outstanding options (years) | 0 years | 0 years |
25 - 40 [Member] | Euro [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Range of exercise prices, minimum | € / shares | € 25 | |
Range of exercise prices, maximum | € / shares | € 40 | |
Number of outstanding options | shares | 9,343 | 9,343 |
Weighted average remaining contractual life of outstanding options (years) | 2 years 8 months 28 days | 2 years 8 months 28 days |
25 - 40 [Member] | United States of America, Dollars | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Range of exercise prices, minimum | $ / shares | $ 25 | |
Range of exercise prices, maximum | $ / shares | $ 40 | |
Number of outstanding options | shares | 10,212 | 10,212 |
Weighted average remaining contractual life of outstanding options (years) | 1 year 10 months 25 days | 1 year 10 months 25 days |
40 - 50 [Member] | Euro [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Range of exercise prices, minimum | € / shares | € 40 | |
Range of exercise prices, maximum | € / shares | € 50 | |
Number of outstanding options | shares | 11,231 | 11,231 |
Weighted average remaining contractual life of outstanding options (years) | 3 years 9 months 15 days | 3 years 9 months 15 days |
40 - 50 [Member] | United States of America, Dollars | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Range of exercise prices, minimum | $ / shares | $ 40 | |
Range of exercise prices, maximum | $ / shares | $ 50 | |
Number of outstanding options | shares | 950 | 950 |
Weighted average remaining contractual life of outstanding options (years) | 2 years 7 months 15 days | 2 years 7 months 15 days |
50 - 60 [Member] | Euro [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Range of exercise prices, minimum | € / shares | € 50 | |
Range of exercise prices, maximum | € / shares | € 60 | |
Number of outstanding options | shares | 8,853 | 8,853 |
Weighted average remaining contractual life of outstanding options (years) | 4 years 11 months 11 days | 4 years 11 months 11 days |
50 - 60 [Member] | United States of America, Dollars | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Range of exercise prices, minimum | $ / shares | $ 50 | |
Range of exercise prices, maximum | $ / shares | $ 60 | |
Number of outstanding options | shares | 3,760 | 3,760 |
Weighted average remaining contractual life of outstanding options (years) | 3 years 7 months 28 days | 3 years 7 months 28 days |
60 - 70 [Member] | Euro [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Range of exercise prices, minimum | € / shares | € 60 | |
Range of exercise prices, maximum | € / shares | € 70 | |
Number of outstanding options | shares | 17,079 | 17,079 |
Weighted average remaining contractual life of outstanding options (years) | 4 years 11 months 4 days | 4 years 11 months 4 days |
60 - 70 [Member] | United States of America, Dollars | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Range of exercise prices, minimum | $ / shares | $ 60 | |
Range of exercise prices, maximum | $ / shares | $ 70 | |
Number of outstanding options | shares | 729 | 729 |
Weighted average remaining contractual life of outstanding options (years) | 4 years 23 days | 4 years 23 days |
70 - 80 [Member] | Euro [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Range of exercise prices, minimum | € / shares | € 70 | |
Range of exercise prices, maximum | € / shares | € 80 | |
Number of outstanding options | shares | 16,517 | 16,517 |
Weighted average remaining contractual life of outstanding options (years) | 6 years 4 months 25 days | 6 years 4 months 25 days |
70 - 80 [Member] | United States of America, Dollars | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Range of exercise prices, minimum | $ / shares | $ 70 | |
Range of exercise prices, maximum | $ / shares | $ 80 | |
Number of outstanding options | shares | 1,422 | 1,422 |
Weighted average remaining contractual life of outstanding options (years) | 4 years 3 months 18 days | 4 years 3 months 18 days |
80 - 90 [Member] | Euro [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Range of exercise prices, minimum | € / shares | € 80 | |
Range of exercise prices, maximum | € / shares | € 90 | |
Number of outstanding options | shares | 33,292 | 33,292 |
Weighted average remaining contractual life of outstanding options (years) | 6 years 9 months 10 days | 6 years 9 months 10 days |
80 - 90 [Member] | United States of America, Dollars | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Range of exercise prices, minimum | $ / shares | $ 80 | |
Range of exercise prices, maximum | $ / shares | $ 90 | |
Number of outstanding options | shares | 15,155 | 15,155 |
Weighted average remaining contractual life of outstanding options (years) | 5 years 9 months 10 days | 5 years 9 months 10 days |
90 - 100 [Member] | Euro [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Range of exercise prices, minimum | € / shares | € 90 | |
Range of exercise prices, maximum | € / shares | € 100 | |
Number of outstanding options | shares | 0 | 0 |
Weighted average remaining contractual life of outstanding options (years) | 0 years | 0 years |
90 - 100 [Member] | United States of America, Dollars | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Range of exercise prices, minimum | $ / shares | $ 90 | |
Range of exercise prices, maximum | $ / shares | $ 100 | |
Number of outstanding options | shares | 38,071 | 38,071 |
Weighted average remaining contractual life of outstanding options (years) | 6 years 1 month 18 days | 6 years 1 month 18 days |
100 - 110 [Member] | Euro [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Range of exercise prices, minimum | € / shares | € 100 | |
Range of exercise prices, maximum | € / shares | € 110 | |
100 - 110 [Member] | United States of America, Dollars | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Range of exercise prices, minimum | $ / shares | $ 100 | |
Range of exercise prices, maximum | $ / shares | $ 110 |
Employee Benefits - Pension Cos
Employee Benefits - Pension Costs (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Compensation Related Costs [Abstract] | |||
Pension plan based on multi-employer union plan | € 74 | € 62.4 | € 54.9 |
Pension plans based on defined contribution | 48 | 38.4 | 30.8 |
Pension and Other Postretirement Benefits Cost (Reversal of Cost) | € 122 | € 100.8 | € 85.7 |
Legal Contingencies - Additiona
Legal Contingencies - Additional Information (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Loss Contingencies [Line Items] | |||
Loss Contingency, Loss in Period | € 131 | € 0 | € 8.4 |
ASML and Zeiss [Member] | |||
Loss Contingencies [Line Items] | |||
Loss Contingency, Loss in Period | € 150 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - EUR (€) € in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Income Tax Disclosure [Line Items] | ||||
Tax Credit Carryforward, Amount | € 51.1 | |||
Tax Credit Carryforward, Amount, With Expiration Date | 19.4 | |||
Deferred Tax Assets, Operating Loss Carryforwards, Domestic | 5.3 | |||
Deferred Tax Assets Operating Loss Carryforwards Domestic, No expiration date | 3.2 | |||
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit | € 38 | |||
Domestic income tax rate | [1] | 25.00% | 25.00% | 25.00% |
Effective Income Tax Rate on Innovation Box Benefit | 7.00% | |||
Liability for unrecognized tax benefits | € (208.7) | € (148.8) | ||
Period of estimated changes to the liability for unrecognized tax benefits | 12 months | |||
Amount of overall profit before tax which is effectively taxed in the Netherlands | 90.00% | |||
Liability For Unrecognized Tax Benefits [Member] | ||||
Income Tax Disclosure [Line Items] | ||||
Accrued interest and penalties recorded in the Consolidated Balance Sheets | € 68.5 | 34.9 | ||
Accrued interest and penalties recorded in the Consolidated Statements of Operations | € 32.6 | € 4.2 | € 5.8 | |
Minimum [Member] | ||||
Income Tax Disclosure [Line Items] | ||||
Tax Credit Carryforward, Expiration Date | 2,019 | |||
Tax carryforward loss, expiration date | 2,023 | |||
Maximum [Member] | ||||
Income Tax Disclosure [Line Items] | ||||
Tax Credit Carryforward, Expiration Date | 2,033 | |||
Tax carryforward loss, expiration date | 2,028 | |||
[1] | 2.As a percentage of income before income taxes. |
Income Taxes - Components of (P
Income Taxes - Components of (Provision for) Benefit from Income Taxes (Detail) - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Income Tax Disclosure [Abstract] | |||||
Income (Loss) from Continuing Operations before Income Taxes, Domestic | € 2,602 | € 2,076.6 | € 1,277 | ||
Income (Loss) from Continuing Operations before Income Taxes, Foreign | 335 | 312.8 | 515.2 | ||
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | 2,937 | 2,389.4 | [1],[2] | 1,792.2 | [1],[2] |
Current Income Tax Expense Benefit Netherlands | (383.1) | (343) | (66.5) | ||
Deferred Income Tax Expense Benefit Netherlands | (40.7) | 55.6 | (85.4) | ||
Income Tax Expense Benefit Continuing Operations Netherlands | (423.8) | (287.4) | (151.9) | ||
Current Foreign Tax Expense (Benefit) | (203.4) | (24.1) | (91.4) | ||
Deferred Foreign Income Tax Expense (Benefit) | 275.6 | 5.4 | 9 | ||
Foreign Income Tax Expense (Benefit), Continuing Operations | 72.2 | 18.7 | 82.4 | ||
Current Income Tax Expense (Benefit) | (586.5) | (367) | (158) | ||
Deferred Income Tax Expense (Benefit) | 234.9 | 61 | (76.4) | ||
Provision for income taxes | € (351.6) | € (306) | [1],[2] | € (234.4) | [1],[2] |
[1] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||||
[2] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Income Taxes - Reconciliation B
Income Taxes - Reconciliation Between (Provision for) Benefit from Income Taxes (Detail) - EUR (€) € in Millions | 12 Months Ended | |||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||||
Income Tax Disclosure [Abstract] | ||||||
Income before income taxes | € 2,937 | € 2,389.4 | [1],[2] | € 1,792.2 | [1],[2] | |
Income tax provision based on ASML's domestic rate | (734.3) | (597.4) | [2] | (448.1) | [2] | |
Effects of tax rates in foreign jurisdictions | 15.4 | 21 | [2] | (2.7) | [2] | |
Adjustments in respect of tax exempt income | 6.2 | 24 | [2] | 31.3 | [2] | |
Adjustments in respect of tax incentives | 311.8 | 263.1 | [2] | 188.6 | [2] | |
Adjustments in respect of prior years' current taxes | (1.2) | (38.3) | [2] | (4.7) | [2] | |
Adjustments in respect of prior years' deferred taxes | 3.3 | 40.9 | [2] | (6.6) | [2] | |
Movements in the liability for unrecognized tax benefits | (57.2) | (17.4) | [2] | 4 | [2] | |
Tax effects in respect of acquisition related items | 115.3 | 0 | [2] | 8.8 | [2] | |
Other credits and non-taxable items | (10.9) | (1.9) | [2] | (5) | [2] | |
Provision for income taxes | € (351.6) | € (306) | [1],[2] | € (234.4) | [1],[2] | |
Income before income taxes (in percentage) | [3] | 100.00% | 100.00% | 100.00% | ||
Income tax (provision) benefit based on company's domestic rate (in percentage) | [3] | 25.00% | 25.00% | 25.00% | ||
Effects of tax rates in foreign jurisdictions (in percentage) | [3] | (0.50%) | (0.90%) | 0.20% | ||
Adjustments in respect of tax exempt income (in percentage) | [3] | (0.20%) | (1.00%) | (1.70%) | ||
Adjustments in respect of tax incentives (in percentage) | [3] | (10.60%) | (11.00%) | (10.50%) | ||
Adjustments in respect of prior years' current taxes (in percentage) | [3] | 0.00% | 1.60% | 0.30% | ||
Adjustments in respect of prior years' deferred taxes (in percentage) | [3] | (0.10%) | (1.70%) | 0.40% | ||
Movements in the liability for unrecognized tax benefits (in percentage) | [3] | 1.90% | 0.70% | (0.20%) | ||
Tax effects in respect of Cymer acquisition related items (in percentage) | [3] | (3.90%) | 0.00% | (0.50%) | ||
Other credits and non-taxable items (in percentage) | [3] | 0.40% | 0.10% | 0.30% | ||
Provision for income taxes (in percentage) | [3] | 12.00% | 12.80% | 13.10% | ||
[1] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[2] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[3] | 2.As a percentage of income before income taxes. |
Income Taxes - Income Taxes Rec
Income Taxes - Income Taxes Recognized Directly in Shareholders' Equity (Including OCI) (Detail) - EUR (€) € in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Income Tax Disclosure [Abstract] | ||||
OCI (financial instruments) | € (1.4) | € (2.3) | € 1.2 | |
Tax (benefit) deficit from share-based payments | [1] | 0 | 0 | (0.9) |
Income Tax Effects Allocated Directly to Equity, Equity Transactions | (0.9) | 0 | 0 | |
Total income tax recognized in shareholders' equity | € (2.3) | € (2.3) | € 0.3 | |
[1] | ASU No. 2016-09 is effective as per January 1, 2017. This requires all of the tax effects related to share based payments to be recorded through the Consolidated Statements of Operations. The comparative numbers have not been adjusted to reflect this change. |
Income Taxes - Liability for Un
Income Taxes - Liability for Unrecognized Tax Benefits and Deferred Tax Position Recorded on Consolidated Balance Sheets (Detail) - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Income Tax Contingency [Line Items] | |||||
Unrecognized Tax Benefits excluding Interest and Penalties | € (140.4) | € (113.9) | € (105.5) | ||
Unrecognized Tax Benefits | (208.7) | (148.8) | |||
Deferred Tax Assets (Liabilities), Net | 193.8 | (160.6) | [1],[2] | (243.4) | [1] |
Total | (14.9) | (309.4) | |||
Liability For Unrecognized Tax Benefits [Member] | |||||
Income Tax Contingency [Line Items] | |||||
Accrued interest and penalties recorded in the Consolidated Statements of Operations | 32.6 | 4.2 | € 5.8 | ||
Accrued interest and penalties recorded in the Consolidated Balance Sheets | € 68.5 | € 34.9 | |||
[1] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||||
[2] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Income Taxes - Reconciliation o
Income Taxes - Reconciliation of Beginning and Ending Balance of Liability for Unrecognized Tax Benefits (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income Tax Contingency [Line Items] | |||
Unrecognized Tax Benefits excluding Interest and Penalties | € 140.4 | € 113.9 | € 105.5 |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Gross increases – tax positions in prior period | (27.4) | (1.3) | |
Gross decreases – tax positions in prior period | 10.3 | 3.4 | |
Gross increases – tax positions in current period | (21.9) | (19.8) | |
Unrecognized Tax Benefits, Increase Resulting from Acquisition | 0 | 0 | |
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities | 2.1 | ||
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations | 13.9 | 2.4 | |
Effect of changes in exchange rates | (4.8) | ||
Unrecognized Tax Benefits, Decrease Resulting from Foreign Currency Translation | (1.4) | ||
Total liability for unrecognized tax benefits | € (208.7) | € (148.8) |
Income Taxes - Composition of D
Income Taxes - Composition of Deferred Tax Assets and Liabilities Reconciled in Consolidated Balance Sheets (Detail) - EUR (€) € in Millions | 12 Months Ended | ||||||||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||||||
Composition Of Deferred Tax Assets And Liabilities [Line Items] | |||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | € 62.5 | ||||||||||
Deferred Tax Liabilities, Tax Deferred Income | (0.1) | € (13.2) | [1],[2] | € (17.9) | [1] | ||||||
Deferred Tax Assets, Goodwill and Intangible Assets | 48.7 | 0 | [1],[2] | 0 | [1],[2] | ||||||
Deferred Tax Assets, Gross | 435.2 | 215.8 | [1],[2] | 313.5 | [1] | ||||||
Deferred Tax Assets, Net of Valuation Allowance | 356 | 166.3 | [1],[2] | 271.1 | [1] | ||||||
Change in Deferred Tax Assets [Roll Forward] | |||||||||||
Capitalized R&D expenditures beginning balance | [1] | € 3.2 | [2] | € 9.5 | |||||||
R&D credits beginning balance | [1] | 44.1 | [2] | 35.8 | |||||||
Inventories beginning balance | [1] | 46.5 | [2] | 80.6 | |||||||
Deferred revenue beginning balance | [1] | 21 | [2] | 47.4 | |||||||
Accrued and other liabilities beginning balance | [1] | 42.7 | [2] | 59.3 | |||||||
Installation and warranty reserve beginning balance | [1] | 11.1 | [2] | 15.7 | |||||||
Tax effect carry-forward losses beginning balance | [1] | 5.7 | [2] | 8.5 | |||||||
Property, plant and equipment beginning balance | [1] | 9.2 | [2] | 11 | |||||||
Restructuring and impairment beginning balance | [1] | 0 | [2] | 0.7 | |||||||
Alternative minimum tax credits beginning balance | [1] | 4.5 | [2] | 5.1 | |||||||
Share-based payments beginning balance | [1] | 7.7 | [2] | 13.9 | |||||||
Other temporary differences beginning balance | [1] | 20.1 | [2] | 26 | |||||||
Changes in deferred tax assets in Consolidated Statements of Operations | 291.9 | 78.5 | [1] | ||||||||
Changes in deferred tax assets in foreign exchange | (0.9) | 4.3 | |||||||||
Capitalized R&D expenditures ending balance | 1.7 | 3.2 | [1],[2] | ||||||||
R&D credits ending balance | 70.5 | 44.1 | [1],[2] | ||||||||
Inventories ending balance | 52.9 | 46.5 | [1],[2] | ||||||||
Deferred revenue ending balance | 150.3 | 21 | [1],[2] | ||||||||
Accrued and other liabilities ending balance | 40.5 | 42.7 | [1],[2] | ||||||||
Installation and warranty reserve ending balance | 13.3 | 11.1 | [1],[2] | ||||||||
Tax effect carry-forward losses ending balance | 8.5 | 5.7 | [1],[2] | ||||||||
Property, plant and equipment ending balance | 19.4 | 9.2 | [1],[2] | ||||||||
Restructuring and impairment ending balance | 0 | 0 | [1],[2] | ||||||||
Alternative minimum tax credits ending balance | 0 | 4.5 | [1],[2] | ||||||||
Share-based payments ending balance | 7.7 | 7.7 | [1],[2] | ||||||||
Other temporary differences ending balance | [1],[2] | 21.7 | 20.1 | ||||||||
Intangible fixed assets beginning balance | [1] | (265.1) | [2] | (432.4) | |||||||
Property, plant and equipment beginning balance | [1] | (37.9) | [2] | (44.7) | |||||||
Borrowing costs beginning balance | [1] | (1.7) | [2] | (1.8) | |||||||
Other temporary differences beginning balance | [1] | (9) | [2] | (17.7) | |||||||
Total deferred tax liabilities beginning balance | [1] | (326.9) | [2] | (514.5) | |||||||
Deferred Tax Assets (Liabilities), Net | 193.8 | (160.6) | [1],[2] | (243.4) | [1] | ||||||
Intangible fixed assets ending balance | (119.8) | (265.1) | [1],[2] | ||||||||
Property, plant and equipment ending balance | (25.7) | (37.9) | [1],[2] | ||||||||
Borrowing costs ending balance | (1.5) | (1.7) | [1],[2] | ||||||||
Other temporary differences ending balance | (15.1) | (9) | [1],[2] | ||||||||
Total deferred tax liabilities ending balance | (326.9) | [1],[2] | (514.5) | [1] | (162.2) | (326.9) | [1],[2] | (514.5) | [1] | ||
Deferred tax assets - current | [1] | 0 | 0 | ||||||||
Deferred tax assets - non-current | 236.3 | [3] | 31.7 | [1],[2],[4] | 34.9 | [1] | |||||
Deferred tax liabilities - non-current | (42.5) | (192.3) | [1],[2] | (278.3) | [1] | ||||||
Valuation allowances recognized in relation to deferred tax assets | (79.2) | [2],[5] | € (49.5) | [1],[2],[5],[6] | € (42.4) | [1],[6] | |||||
Capitalized R&D Expenditures [Member] | |||||||||||
Composition Of Deferred Tax Assets And Liabilities [Line Items] | |||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | 0 | ||||||||||
Change in Deferred Tax Assets [Roll Forward] | |||||||||||
Changes in deferred tax assets in Consolidated Statements of Operations | (1.6) | (5.1) | [1] | ||||||||
Changes in deferred tax assets in foreign exchange | 0.1 | (1.2) | |||||||||
Increase in Deferred Tax Assets Recognized in Shareholders Equity | 0 | ||||||||||
R&D Credits [Member] | |||||||||||
Composition Of Deferred Tax Assets And Liabilities [Line Items] | |||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | 0 | ||||||||||
Change in Deferred Tax Assets [Roll Forward] | |||||||||||
Changes in deferred tax assets in Consolidated Statements of Operations | 25.2 | 12.6 | [1] | ||||||||
Changes in deferred tax assets in foreign exchange | 1.2 | (4.3) | |||||||||
Increase in Deferred Tax Assets Recognized in Shareholders Equity | 0 | ||||||||||
Inventories [Member] | |||||||||||
Composition Of Deferred Tax Assets And Liabilities [Line Items] | |||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | 0 | ||||||||||
Change in Deferred Tax Assets [Roll Forward] | |||||||||||
Changes in deferred tax assets in Consolidated Statements of Operations | 4.6 | (24) | [1] | ||||||||
Changes in deferred tax assets in foreign exchange | 1.8 | (10.1) | |||||||||
Increase in Deferred Tax Assets Recognized in Shareholders Equity | 0 | ||||||||||
Deferred Revenue [Member] | |||||||||||
Composition Of Deferred Tax Assets And Liabilities [Line Items] | |||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | 0 | ||||||||||
Change in Deferred Tax Assets [Roll Forward] | |||||||||||
Changes in deferred tax assets in Consolidated Statements of Operations | 128.7 | (20.6) | [1] | ||||||||
Changes in deferred tax assets in foreign exchange | 0.6 | (5.8) | |||||||||
Increase in Deferred Tax Assets Recognized in Shareholders Equity | 0 | ||||||||||
Accrued and Other Liabilities [Member] | |||||||||||
Composition Of Deferred Tax Assets And Liabilities [Line Items] | |||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | 0 | ||||||||||
Change in Deferred Tax Assets [Roll Forward] | |||||||||||
Changes in deferred tax assets in Consolidated Statements of Operations | (4.4) | (9.5) | [1] | ||||||||
Changes in deferred tax assets in foreign exchange | 2.2 | (7.1) | |||||||||
Increase in Deferred Tax Assets Recognized in Shareholders Equity | 0 | ||||||||||
Installation and Warranty Reserve [Member] | |||||||||||
Composition Of Deferred Tax Assets And Liabilities [Line Items] | |||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | 0 | ||||||||||
Change in Deferred Tax Assets [Roll Forward] | |||||||||||
Changes in deferred tax assets in Consolidated Statements of Operations | 1.6 | (2.7) | [1] | ||||||||
Changes in deferred tax assets in foreign exchange | 0.6 | (1.9) | |||||||||
Increase in Deferred Tax Assets Recognized in Shareholders Equity | 0 | ||||||||||
Tax Effect Carry-Forward Losses [Member] | |||||||||||
Composition Of Deferred Tax Assets And Liabilities [Line Items] | |||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | 0 | ||||||||||
Change in Deferred Tax Assets [Roll Forward] | |||||||||||
Changes in deferred tax assets in Consolidated Statements of Operations | 2.8 | (3.1) | [1] | ||||||||
Changes in deferred tax assets in foreign exchange | 0 | 0.3 | |||||||||
Increase in Deferred Tax Assets Recognized in Shareholders Equity | 0 | ||||||||||
Property, Plant and Equipment [Member] | |||||||||||
Composition Of Deferred Tax Assets And Liabilities [Line Items] | |||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | 8.2 | ||||||||||
Change in Deferred Tax Assets [Roll Forward] | |||||||||||
Changes in deferred tax assets in Consolidated Statements of Operations | 1.8 | (1.3) | [1] | ||||||||
Changes in deferred tax assets in foreign exchange | 0.2 | (0.5) | |||||||||
Increase in Deferred Tax Assets Recognized in Shareholders Equity | 0 | ||||||||||
Other Intangible assets [Member] | |||||||||||
Composition Of Deferred Tax Assets And Liabilities [Line Items] | |||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | 51.7 | ||||||||||
Change in Deferred Tax Assets [Roll Forward] | |||||||||||
Changes in deferred tax assets in Consolidated Statements of Operations | (3) | 0 | [1] | ||||||||
Changes in deferred tax assets in foreign exchange | 0 | 0 | |||||||||
Increase in Deferred Tax Assets Recognized in Shareholders Equity | 0 | ||||||||||
Restructuring and Impairment [Member] | |||||||||||
Composition Of Deferred Tax Assets And Liabilities [Line Items] | |||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | 0 | ||||||||||
Change in Deferred Tax Assets [Roll Forward] | |||||||||||
Changes in deferred tax assets in Consolidated Statements of Operations | 0 | (0.6) | [1] | ||||||||
Changes in deferred tax assets in foreign exchange | 0 | (0.1) | |||||||||
Increase in Deferred Tax Assets Recognized in Shareholders Equity | 0 | ||||||||||
Alternative Minimum Tax Credits [Member] | |||||||||||
Composition Of Deferred Tax Assets And Liabilities [Line Items] | |||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | 0 | ||||||||||
Change in Deferred Tax Assets [Roll Forward] | |||||||||||
Changes in deferred tax assets in Consolidated Statements of Operations | (4.5) | 0 | [1] | ||||||||
Changes in deferred tax assets in foreign exchange | 0 | (0.6) | |||||||||
Increase in Deferred Tax Assets Recognized in Shareholders Equity | 0 | ||||||||||
Share-Based Payments [Member] | |||||||||||
Composition Of Deferred Tax Assets And Liabilities [Line Items] | |||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | 0 | ||||||||||
Change in Deferred Tax Assets [Roll Forward] | |||||||||||
Changes in deferred tax assets in Consolidated Statements of Operations | (0.3) | (4.5) | [1] | ||||||||
Changes in deferred tax assets in foreign exchange | 0.3 | (1.7) | |||||||||
Increase in Deferred Tax Assets Recognized in Shareholders Equity | 0 | ||||||||||
Other Temporary Differences [Member] | |||||||||||
Composition Of Deferred Tax Assets And Liabilities [Line Items] | |||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | € 2.6 | ||||||||||
Change in Deferred Tax Assets [Roll Forward] | |||||||||||
Changes in deferred tax assets in Consolidated Statements of Operations | (2.3) | (8.9) | [1] | ||||||||
Changes in deferred tax assets in foreign exchange | 0.4 | 3 | |||||||||
Increase in Deferred Tax Assets Recognized in Shareholders Equity | 0.9 | ||||||||||
Deferred Tax Assets, Gross [Domain] | |||||||||||
Change in Deferred Tax Assets [Roll Forward] | |||||||||||
Changes in deferred tax assets in Consolidated Statements of Operations | 148.6 | (67.7) | |||||||||
Changes in deferred tax assets in foreign exchange | 7.4 | (30) | |||||||||
Deferred Tax Assets [Member] | |||||||||||
Composition Of Deferred Tax Assets And Liabilities [Line Items] | |||||||||||
Increase In Deferred Tax Assets In Income Statement, after Valuation Allowance | 120.1 | (79.6) | |||||||||
Increase In Deferred Assets In Foreign Exchange, after Valuation Allowance | 6.2 | (25.2) | |||||||||
Change in Deferred Tax Assets [Roll Forward] | |||||||||||
Changes in deferred tax assets in Consolidated Statements of Operations | (28.5) | (11.9) | |||||||||
Changes in deferred tax assets in foreign exchange | (1.2) | 4.8 | |||||||||
Intangible Fixed Assets [Member] | |||||||||||
Composition Of Deferred Tax Assets And Liabilities [Line Items] | |||||||||||
Decrease In Deferred Tax Liability In Income Statement | 149.7 | 140.9 | [1] | ||||||||
Change in Deferred Tax Assets [Roll Forward] | |||||||||||
Decrease In Deferred Tax Liabilities In Foreign Exchange | 4.4 | 26.4 | |||||||||
Property Plant and Equipment [Member] | |||||||||||
Composition Of Deferred Tax Assets And Liabilities [Line Items] | |||||||||||
Decrease In Deferred Tax Liability In Income Statement | 13.3 | 1.4 | [1] | ||||||||
Change in Deferred Tax Assets [Roll Forward] | |||||||||||
Decrease In Deferred Tax Liabilities In Foreign Exchange | 1.1 | 5.4 | |||||||||
Borrowing Costs [Member] | |||||||||||
Composition Of Deferred Tax Assets And Liabilities [Line Items] | |||||||||||
Decrease In Deferred Tax Liability In Income Statement | 0.2 | 0.1 | [1] | ||||||||
Change in Deferred Tax Assets [Roll Forward] | |||||||||||
Decrease In Deferred Tax Liabilities In Foreign Exchange | 0 | 0 | |||||||||
Other Temporary Differences [Member] | |||||||||||
Composition Of Deferred Tax Assets And Liabilities [Line Items] | |||||||||||
Decrease In Deferred Tax Liability In Income Statement | (4.5) | 11 | [1] | ||||||||
Change in Deferred Tax Assets [Roll Forward] | |||||||||||
Decrease In Deferred Tax Liabilities In Foreign Exchange | (1.6) | 2.3 | |||||||||
Deferred Tax Liability deferred revenue [Domain] | |||||||||||
Composition Of Deferred Tax Assets And Liabilities [Line Items] | |||||||||||
Decrease In Deferred Tax Liability In Income Statement | 13.1 | 4.7 | [1] | ||||||||
Change in Deferred Tax Assets [Roll Forward] | |||||||||||
Decrease In Deferred Tax Liabilities In Foreign Exchange | 0 | 0 | |||||||||
Deferred Tax Liability [Member] | |||||||||||
Composition Of Deferred Tax Assets And Liabilities [Line Items] | |||||||||||
Decrease In Deferred Tax Liability In Income Statement | 171.8 | 158.1 | [1] | ||||||||
Change in Deferred Tax Assets [Roll Forward] | |||||||||||
Decrease In Deferred Tax Liabilities In Foreign Exchange | € 7.1 | € 29.5 | |||||||||
[1] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||||||||||
[2] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||||||||||
[3] | 2.As per January 1, 2018, ASML has adopted ASU No. 2016-16 Income Taxes (ASC 740) 'Intra-Entity Transfers of Assets Other Than Inventory', adjusted to retained earnings as of January 1, 2018. See Note 1 General information / summary of significant accounting policies. | ||||||||||
[4] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||||||||||
[5] | The valuation allowance disclosed above relates to R&D credits and Tax effect carry-forward losses that may not be realized. | ||||||||||
[6] | 2.The valuation allowance disclosed above relates to R&D credits and Tax effect carry-forward losses that may not be realized. |
Segment Disclosure - Additional
Segment Disclosure - Additional Information (Detail) € in Millions | 12 Months Ended | |||||
Dec. 31, 2018EUR (€)Segment | Dec. 31, 2017EUR (€) | Dec. 31, 2016EUR (€) | ||||
Segment Reporting Information [Line Items] | ||||||
Number of reportable segments | Segment | 1 | |||||
Increase (Decrease) in net system sales in percentage | 28.60% | |||||
Net Sales | [1] | € 10,944 | € 8,962.7 | [2] | € 6,875.1 | [2] |
Increase (Decrease) in net system sales | 1,834.7 | |||||
Accounts receivables and finance receivables of three largest customers based on net sales | € 1,491.3 | € 1,356.7 | ||||
Accounts receivables and finance receivables of three largest customers based on net sales, percentage | 58.80% | 65.70% | ||||
Largest Customer [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Net Sales | € 2,476.8 | € 2,454.4 | € 1,633.9 | |||
Largest Customer [Member] | Sales Revenue, Net [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Net sales revenue from largest customer as percentage | 22.60% | 27.40% | 23.80% | |||
System Sales [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Net Sales | [3] | € 8,259.1 | € 6,424.4 | [2],[4],[5] | € 4,718.9 | [2],[4],[5],[6],[7] |
[1] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[2] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[3] | As of January 1, 2017, ASML presents net sales with respect to metrology and inspection systems as part of net system sales instead of net service and field option sales. The 2016 numbers have been adjusted to reflect this change in accounting policy. | |||||
[4] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[5] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[6] | 2.As of January 1, 2017, ASML presents net sales with respect to metrology and inspection systems as part of net system sales instead of net service and field option sales. The 2016 numbers have been adjusted to reflect this change in accounting policy. | |||||
[7] | As of January 1, 2017, ASML presents net sales with respect to metrology and inspection systems as part of net system sales instead of net service and field option sales. The 2016 numbers have been adjusted to reflect this change in accounting policy. |
Segment Disclosure - Net Sales
Segment Disclosure - Net Sales for New and Used Systems (Detail) - EUR (€) € in Millions | 12 Months Ended | |||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||||
Segment Reporting Information [Line Items] | ||||||
Net Sales | [1] | € 10,944 | € 8,962.7 | [2] | € 6,875.1 | [2] |
System Sales [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Net Sales | [3] | 8,259.1 | 6,424.4 | [2],[4],[5] | 4,718.9 | [2],[4],[5],[6],[7] |
New Systems [Member] | System Sales [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Net Sales | 8,115.6 | 6,332.9 | [4] | 4,644 | [4],[6] | |
Used Systems [Member] | System Sales [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Net Sales | € 143.5 | € 91.5 | [2],[4] | € 74.9 | [4],[6] | |
[1] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[2] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[3] | As of January 1, 2017, ASML presents net sales with respect to metrology and inspection systems as part of net system sales instead of net service and field option sales. The 2016 numbers have been adjusted to reflect this change in accounting policy. | |||||
[4] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[5] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[6] | 2.As of January 1, 2017, ASML presents net sales with respect to metrology and inspection systems as part of net system sales instead of net service and field option sales. The 2016 numbers have been adjusted to reflect this change in accounting policy. | |||||
[7] | As of January 1, 2017, ASML presents net sales with respect to metrology and inspection systems as part of net system sales instead of net service and field option sales. The 2016 numbers have been adjusted to reflect this change in accounting policy. |
Segment Disclosure - Net Sale_2
Segment Disclosure - Net Sales and Long-lived Assets by Geographic Region (Detail) - EUR (€) € in Millions | 12 Months Ended | |||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||||
Segment Reporting Information [Line Items] | ||||||
Long-lived assets | € 1,589.5 | € 1,600.8 | [1],[2] | € 1,687.2 | [2] | |
Net Sales | [2] | 10,944 | 8,962.7 | [3] | 6,875.1 | [3] |
Japan [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Long-lived assets | 8.2 | 3.4 | [2] | 4.3 | [2] | |
Net Sales | [2] | 567.6 | 404.3 | 415.1 | ||
Korea [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Long-lived assets | 24.6 | 23.2 | [2] | 17.3 | [2] | |
Net Sales | [2] | 3,725.1 | 3,031.4 | 1,594.3 | ||
Singapore [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Long-lived assets | 1.1 | 0.8 | [2] | 0.8 | [2] | |
Net Sales | [2] | 222.5 | 163.7 | 245.6 | ||
Taiwan [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Long-lived assets | 96.5 | 88.1 | [2] | 125.4 | [2] | |
Net Sales | [2] | 1,989.5 | 2,096.7 | 2,140.3 | ||
CHINA | ||||||
Segment Reporting Information [Line Items] | ||||||
Long-lived assets | 16.2 | 4.1 | [2] | 3.2 | [2] | |
Net Sales | [2] | 1,842.8 | 919.5 | 758.2 | ||
Rest of Asia [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Long-lived assets | 0.4 | 3 | [2] | 2.8 | [2] | |
Net Sales | [2] | 1.9 | 3.5 | 26.7 | ||
Netherlands [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Long-lived assets | 1,113.8 | 1,186 | [2] | 1,201.4 | [2] | |
Net Sales | [2] | 1.2 | 4 | 1.1 | ||
Rest of Europe [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Long-lived assets | 5.1 | 5 | [2] | 4.1 | [2] | |
Net Sales | [2] | 631.7 | 921.5 | 606.3 | ||
United States [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Long-lived assets | 323.6 | 287.2 | [2] | 327.9 | [2] | |
Net Sales | [2] | € 1,961.7 | € 1,418.1 | € 1,087.5 | ||
[1] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[2] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[3] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Revenue from Contract with Cu_3
Revenue from Contract with Customer Revenue from Contract with Customer - Net System Sales per Technology (Details) € in Millions | 12 Months Ended | |||||
Dec. 31, 2018EUR (€)Unit | Dec. 31, 2017EUR (€)Unit | Dec. 31, 2016EUR (€)Unit | ||||
Segment Reporting Information [Line Items] | ||||||
Net Sales | [1] | € 10,944 | € 8,962.7 | [2] | € 6,875.1 | [2] |
Product [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Net Sales In Units | Unit | 338 | 292 | [3],[4] | 209 | [3],[4],[5],[6] | |
Net Sales | [7] | € 8,259.1 | € 6,424.4 | [2],[3],[8] | € 4,718.9 | [2],[3],[5],[8],[9] |
Euv [Member] | Product [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Net Sales In Units | Unit | 18 | 11 | [3] | 4 | [3],[5] | |
Net Sales | € 1,880.1 | € 1,084.2 | [3] | € 331.2 | [3],[5] | |
Arfi [Member] | Product [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Net Sales In Units | Unit | 86 | 76 | [3] | 68 | [3],[5] | |
Net Sales | € 4,806.9 | € 4,028.7 | [3] | € 3,539.6 | [3],[5] | |
Arf Dry [Member] | Product [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Net Sales In Units | Unit | 16 | 13 | [3] | 7 | [3],[5] | |
Net Sales | € 274.3 | € 186.4 | [3] | € 113.4 | [3],[5] | |
Krf [Member] | Product [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Net Sales In Units | Unit | 78 | 71 | [3] | 55 | [3],[5] | |
Net Sales | € 860.1 | € 743.5 | [3] | € 552.5 | [3],[5] | |
I-Line [Member] | Product [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Net Sales In Units | Unit | 26 | 26 | [3] | 20 | [3],[5] | |
Net Sales | € 98.6 | € 99.7 | [3] | € 71.2 | [3],[5] | |
Metrology and inspection [Member] | Product [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Net Sales In Units | Unit | 114 | 95 | [3] | 55 | [3],[5] | |
Net Sales | € 339.1 | € 281.9 | [3] | € 111 | [3],[5] | |
[1] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[2] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[3] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[4] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[5] | As of January 1, 2017, ASML presents net sales with respect to metrology and inspection systems as part of net system sales instead of net service and field option sales. The 2016 numbers have been adjusted to reflect this change in accounting policy. | |||||
[6] | As of January 1, 2017, ASML presents net sales with respect to metrology and inspection systems as part of net system sales instead of net service and field option sales. The 2016 numbers have been adjusted to reflect this change in accounting policy. | |||||
[7] | As of January 1, 2017, ASML presents net sales with respect to metrology and inspection systems as part of net system sales instead of net service and field option sales. The 2016 numbers have been adjusted to reflect this change in accounting policy. | |||||
[8] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[9] | 2.As of January 1, 2017, ASML presents net sales with respect to metrology and inspection systems as part of net system sales instead of net service and field option sales. The 2016 numbers have been adjusted to reflect this change in accounting policy. |
Revenue from Contract with Cu_4
Revenue from Contract with Customer Revenue from Contract with Customer - Net System Sales per End-Use (Details) € in Millions | 12 Months Ended | |||||
Dec. 31, 2018EUR (€)Unit | Dec. 31, 2017EUR (€)Unit | Dec. 31, 2016EUR (€)Unit | ||||
Net system sales per end-use [Line Items] | ||||||
Net Sales | [1] | € 10,944 | € 8,962.7 | [2] | € 6,875.1 | [2] |
Product [Member] | ||||||
Net system sales per end-use [Line Items] | ||||||
Net Sales In Units | Unit | 338 | 292 | [3],[4] | 209 | [3],[4],[5],[6] | |
Net Sales | [7] | € 8,259.1 | € 6,424.4 | [2],[3],[8] | € 4,718.9 | [2],[3],[5],[8],[9] |
Logic [Member] | Product [Member] | ||||||
Net system sales per end-use [Line Items] | ||||||
Net Sales In Units | Unit | 125 | 145 | [4] | 141 | [4],[6] | |
Net Sales | € 3,713.7 | € 3,456.7 | [4] | € 3,212.4 | [4],[6] | |
Memory [Member] | Product [Member] | ||||||
Net system sales per end-use [Line Items] | ||||||
Net Sales In Units | Unit | 213 | 147 | [4] | 68 | [4],[6] | |
Net Sales | € 4,545.4 | € 2,967.7 | [4] | € 1,506.5 | [4],[6] | |
[1] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[2] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[3] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[4] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[5] | As of January 1, 2017, ASML presents net sales with respect to metrology and inspection systems as part of net system sales instead of net service and field option sales. The 2016 numbers have been adjusted to reflect this change in accounting policy. | |||||
[6] | As of January 1, 2017, ASML presents net sales with respect to metrology and inspection systems as part of net system sales instead of net service and field option sales. The 2016 numbers have been adjusted to reflect this change in accounting policy. | |||||
[7] | As of January 1, 2017, ASML presents net sales with respect to metrology and inspection systems as part of net system sales instead of net service and field option sales. The 2016 numbers have been adjusted to reflect this change in accounting policy. | |||||
[8] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | |||||
[9] | 2.As of January 1, 2017, ASML presents net sales with respect to metrology and inspection systems as part of net system sales instead of net service and field option sales. The 2016 numbers have been adjusted to reflect this change in accounting policy. |
Revenue from Contract with Cu_5
Revenue from Contract with Customer Revenue from Contract with Customer - Contract Assets and Liabilities (Details) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | [1] | Dec. 31, 2016 | [2] |
Revenue from Contract with Customer [Abstract] | |||||
Accounts Receivable | € 1,655.6 | € 1,850.4 | |||
Contract liabilities | (2,953.2) | (2,152) | [2] | € (1,833.8) | |
Total Net contract assets & liabilities and receivables from contracts with our customers | (315.5) | 187.3 | |||
Financing Receivables | 886.2 | 218.5 | [3] | ||
Contract assets | € 95.9 | € 270.4 | [4] | ||
[1] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||||
[2] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||||
[3] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||||
[4] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Revenue from Contract with Cu_6
Revenue from Contract with Customer Revenue from Contract with Customer - Changes in Contract Assets and Liabilities (Details) - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | [1] | Dec. 31, 2016 | [1] | |
Changes in contract assets and liabilities [Line Items] | |||||
Contract with Customer, Asset, Net | € 95.9 | € 270.4 | € 148.3 | ||
Contract liabilities | 2,953.2 | 2,152 | [2] | € 1,833.8 | |
Contract with Customer, Liability, Revenue Recognized | (1,306.3) | (1,197.9) | |||
Contract with Customer, Asset, Consideration Becoming Unconditional | 0 | 0 | |||
Contract with Customer, Liability, Consideration Becoming Unconditional | 2,082.5 | 1,759.1 | |||
Contract with Customer, Asset, To Be Invoiced | 192.3 | 456.7 | |||
Contract with Customer, Liability, To Be Invoiced | 0 | 0 | |||
Contract with Customer, Asset, Reclassified to Receivable | (456.2) | (91.6) | |||
Contract with Customer, Asset, Cumulative Catch-up Adjustment to Revenue, Modification of Contract | 0 | 0 | |||
Contract with Customer, Liability, Cumulative Catch-up Adjustment to Revenue, Modification of Contract | (64.4) | 0 | |||
Assets [Member] | |||||
Changes in contract assets and liabilities [Line Items] | |||||
Contract with customer, Transfer between contract assets and liabilities | 89.4 | (243) | |||
Liability [Member] | |||||
Changes in contract assets and liabilities [Line Items] | |||||
Contract with customer, Transfer between contract assets and liabilities | € 89.4 | € (243) | |||
[1] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. | ||||
[2] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Revenue from Contract with Cu_7
Revenue from Contract with Customer Revenue from Contract with Customer - Additional information (Details) € in Millions | Dec. 31, 2018EUR (€) | Dec. 31, 2017EUR (€) |
Contract with Customer Additional Information [Line Items] | ||
Net contract liability | € 1,881.6 | € 2,857.3 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 18 months | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Year | 2,021 | |
Product [Member] | ||
Contract with Customer Additional Information [Line Items] | ||
Revenue, Remaining Performance Obligation, Amount | € 6,200 | |
Service and Field Options [Member] | ||
Contract with Customer Additional Information [Line Items] | ||
Revenue, Remaining Performance Obligation, Amount | € 800 | |
System sales orders [Member] | ||
Contract with Customer Additional Information [Line Items] | ||
Revenue, Remaining Performance Obligation, Units | 4 | |
Options to buy systems [Member] | ||
Contract with Customer Additional Information [Line Items] | ||
Revenue, Remaining Performance Obligation, Units | 8 | |
High NA selling price [Member] | ||
Contract with Customer Additional Information [Line Items] | ||
Revenue, Remaining Performance Obligation, Amount | € 270 |
Selected Operating Expenses a_3
Selected Operating Expenses and Additional Information - Personnel Expenses for All Payroll Employees (Detail) - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Compensation Related Costs [Abstract] | |||||
Wages and salaries | € 1,777.9 | € 1,492.8 | € 1,279.6 | ||
Social security expenses | 146.3 | 119.6 | 103.8 | ||
Pension and Other Postretirement Benefits Cost (Reversal of Cost) | 122 | 100.8 | 85.7 | ||
Share-based payments | 46.3 | 53.1 | [1] | 47.7 | [1] |
Personnel expenses | € 2,092.5 | € 1,766.3 | € 1,516.8 | ||
[1] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Selected Operating Expenses a_4
Selected Operating Expenses and Additional Information - Additional Information (Detail) - employee | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Payroll Personnel Employed Per Sector [Line Items] | |||
Average number of payroll employees in FTEs | 18,204 | 15,136 | 12,852 |
Netherlands [Member] | |||
Payroll Personnel Employed Per Sector [Line Items] | |||
Average number of payroll employees in FTEs | 8,597 | 7,211 | 6,567 |
Selected Operating Expenses a_5
Selected Operating Expenses and Additional Information - Total Number of Payroll and Temporary Personnel Employed in FTE's Per Sector (Detail) | Dec. 31, 2018€ / sharesemployee | Dec. 31, 2017employee | Dec. 31, 2016employee |
Personnel Employed Per Sector [Line Items] | |||
Total employees (in FTEs) | 23,247 | 19,216 | 16,647 |
Customer Support [Member] | |||
Personnel Employed Per Sector [Line Items] | |||
Total employees (in FTEs) | 5,674 | 5,051 | 4,210 |
SG&A [Member] | |||
Personnel Employed Per Sector [Line Items] | |||
Total employees (in FTEs) | 2,260 | 1,701 | 1,561 |
Manufacturing & Logistics [Member] | |||
Personnel Employed Per Sector [Line Items] | |||
Total employees (in FTEs) | 6,046 | 5,112 | 4,443 |
R&D [Member] | |||
Personnel Employed Per Sector [Line Items] | |||
Total employees (in FTEs) | 9,267 | 7,352 | 6,433 |
Temporary FTEs [Member] | |||
Personnel Employed Per Sector [Line Items] | |||
Total employees (in FTEs) | 3,203 | 2,997 | 2,656 |
Payroll FTEs [Member] | |||
Personnel Employed Per Sector [Line Items] | |||
Total employees (in FTEs) | 20,044 | 16,219 | 13,991 |
Research and Development Costs
Research and Development Costs - Additional Information (Detail) - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | [1] | ||
Research and Development [Abstract] | |||||
Increase (decrease) in R&D costs net of credits and excluding contributions under the NRE funding agreements | € (316.2) | € (153.9) | |||
Increase (decrease) in percentage of R&D costs net of credits and excluding contributions under the NRE funding agreements | 25.10% | 13.90% | |||
Research and development costs | € 1,575.9 | € 1,259.7 | [1] | € 1,105.8 | |
[1] | 1.As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. |
Interest and Other, Net - Addit
Interest and Other, Net - Additional Information (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Banking and Thrift, Interest [Abstract] | |||
Interest and other income | € 13.5 | € 7.2 | € 71.7 |
Foreign Currency Transaction Gain (Loss), Realized | 55.2 | ||
Interest and other expense | € 41.8 | € 57.5 | € 38 |
Vulnerability Due to Certain _2
Vulnerability Due to Certain Concentrations Vulnerability Due to Certain Concentrations - Zeiss (Details) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Risks and Uncertainties [Abstract] | |||
Aggregate cost of system sales purchased from Carl Zeiss SMT GmbH | 28.30% | 26.60% | 27.60% |
Shareholders' Equity - Share Ca
Shareholders' Equity - Share Capital (Details) - EUR (€) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Class of Stock [Line Items] | |||
Common stock value authorized | € 126,000,000 | ||
Cumulative Preference Shares; authorized (number of shares) | 700,000,000 | ||
Cumulative Preference Shares; nominal value (in EUR) | € 0.09 | ||
Number of issued shares | 431,465,767 | 431,464,705 | 439,199,514 |
Number of treasury shares | 10,368,038 | 4,071,113 | 9,258,282 |
Maximum authorization period for issuing shares | 5 years | ||
Maximum authorization period for issuing shares - extension | 5 years | ||
Preferred Stock, Voting Rights | 9 | ||
Common Stock [Member] | |||
Class of Stock [Line Items] | |||
Ordinary Shares, authorized (number of shares) | 699,999,000 | 699,999,000 | |
Ordinary Shares, nominal value (in EUR) | € 0.09 | € 0.09 | |
Number of issued shares | 431,465,767 | ||
Common Class B [Member] | |||
Class of Stock [Line Items] | |||
Ordinary Shares, authorized (number of shares) | 9,000 | ||
Ordinary Shares, nominal value (in EUR) | € 0.01 | ||
Number of issued shares | 0 | ||
Cumulative Preferred Stock [Member] | |||
Class of Stock [Line Items] | |||
Number of issued shares | 0 |
Shareholders' Equity Shareholde
Shareholders' Equity Shareholders' Equity - Shares Issued as a Result of the Acquisition of HMI (Details) € in Millions | Nov. 22, 2016EUR (€)shares |
Schedule Of Stockholders Equity [Line Items] | |
Business Combination Fair Value Of Shares Exchanged | € | € 580.6 |
Business Acquisition, Name of Acquired Entity | HMI |
Business Acquisition, Effective Date of Acquisition | Nov. 22, 2016 |
Ordinary Shares Issued In Relation To Acquisition Of HMI [Member] | |
Schedule Of Stockholders Equity [Line Items] | |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 5,866,001 |
Shareholders' Equity - Ordinary
Shareholders' Equity - Ordinary Shares, Ordinary Shares B, Cumulative Preference Shares, and Dividend Policy (Details) - € / shares | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Class of Stock [Line Items] | ||
Period In Which Company To Repurchase Or Cancel Cumulative Preference Shares | 20 months | |
Number Of fractional shares | 900 | |
Cumulative Preference Shares; authorized (number of shares) | 700,000,000 | |
Preferred Stock, Voting Rights | 9 | |
Cumulative Preference Shares; nominal value (in EUR) | € 0.09 | |
Maximum shares authorized for issuance as percentage of issued share capital | 5.00% | |
Additional maximum shares authorized for issuance on business acquisitions and mergers percentage of issued share capital | 5.00% | |
Percentage of issued share capital right to restrict or exclude preemptive rights by board of management | 10.00% | |
Proposed dividend per share | € 2.1 | |
Common Stock [Member] | ||
Class of Stock [Line Items] | ||
Common Stock, Voting Rights | 9 | |
Ordinary Shares, nominal value (in EUR) | € 0.09 | € 0.09 |
Ordinary Shares, authorized (number of shares) | 699,999,000 | 699,999,000 |
Common Class B [Member] | ||
Class of Stock [Line Items] | ||
Common Stock, Voting Rights | 1 | |
Ordinary Shares, nominal value (in EUR) | € 0.01 | |
Ordinary Shares, authorized (number of shares) | 9,000 |
Purchases of Equity Securitie_3
Purchases of Equity Securities by the Issuer and Affiliated Purchasers - Additional Information (Detail) - EUR (€) € in Millions | Jul. 31, 2017 | Jan. 31, 2017 | Nov. 30, 2017 | Oct. 31, 2017 | Sep. 30, 2017 | Aug. 31, 2017 | Jul. 19, 2017 | Jun. 30, 2017 | May 31, 2017 | Apr. 30, 2017 | Mar. 31, 2017 | Feb. 28, 2017 | Dec. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Equity, Class of Treasury Stock [Line Items] | ||||||||||||||||
Total number of shares purchased as a part of publicly announced plans or programs | 4,018,815 | 219,914 | 7,044,389 | 6,434,276 | 5,572,764 | 4,737,380 | 3,254,197 | 2,630,294 | 2,062,007 | 1,438,640 | 1,040,123 | 533,051 | ||||
Value of stock acquired | € (1,146.2) | € (1,146.2) | € (500) | € (400) | ||||||||||||
Treasury Stock, Shares, Retired | 0 | |||||||||||||||
Treasury shares, cancellation process started during the year | 5,806,366 | |||||||||||||||
2018-2019 Share Buy Back Program [Member] | ||||||||||||||||
Equity, Class of Treasury Stock [Line Items] | ||||||||||||||||
Maximum amount of shares intended to be repurchased | € 2,500 | € 2,500 | ||||||||||||||
2016-2017 Share Buy Back Program [Member] | ||||||||||||||||
Equity, Class of Treasury Stock [Line Items] | ||||||||||||||||
Treasury Stock, Shares, Retired | 3,468,737 | |||||||||||||||
Employee Share Plans [Member] | 2018-2019 Share Buy Back Program [Member] | ||||||||||||||||
Equity, Class of Treasury Stock [Line Items] | ||||||||||||||||
Total number of shares purchased as a part of publicly announced plans or programs | 2,400,000 | |||||||||||||||
Other than Employee Share Plans [Member] | 2018-2019 Share Buy Back Program [Member] | ||||||||||||||||
Equity, Class of Treasury Stock [Line Items] | ||||||||||||||||
Total number of shares purchased as a part of publicly announced plans or programs | 4,644,389 |
Purchases of Equity Securitie_4
Purchases of Equity Securities by the Issuer and Affiliated Purchasers - Summary of Shares Repurchased (Detail) - EUR (€) € / shares in Units, € in Millions | Jul. 31, 2017 | Jan. 31, 2017 | Nov. 30, 2017 | Oct. 31, 2017 | Sep. 30, 2017 | Aug. 31, 2017 | Jul. 19, 2017 | Jun. 30, 2017 | May 31, 2017 | Apr. 30, 2017 | Mar. 31, 2017 | Feb. 28, 2017 | Dec. 31, 2018 |
Equity [Abstract] | |||||||||||||
Total number of shares purchased | 764,618 | 219,914 | 610,113 | 861,512 | 835,384 | 718,565 | 623,903 | 568,287 | 623,367 | 398,517 | 507,072 | 313,137 | 7,044,389 |
Average price paid per Share (EUR) | € 178.39 | € 165.06 | € 143.91 | € 149.39 | € 153.46 | € 161.57 | € 176.31 | € 176.14 | € 167.80 | € 161.10 | € 168.62 | € 153.93 | € 162.70 |
Total number of shares purchased as part of publicly announced plans or programs | 4,018,815 | 219,914 | 7,044,389 | 6,434,276 | 5,572,764 | 4,737,380 | 3,254,197 | 2,630,294 | 2,062,007 | 1,438,640 | 1,040,123 | 533,051 | |
Maximum value of shares that may yet be purchased under program 2 (EUR) | € 1,814.7 | € 2,463.7 | € 1,353.9 | € 1,441.6 | € 1,570.4 | € 1,698.6 | € 1,951.1 | € 2,061.1 | € 2,161.2 | € 2,265.8 | € 2,330 | € 2,415.5 |
Customer Co-Investment Program
Customer Co-Investment Program - Additional Information (Detail) - EUR (€) € in Millions | 1 Months Ended | |
Nov. 30, 2012 | Jul. 09, 2012 | |
Related Party Transaction [Line Items] | ||
Contribution of Participating Customers | € 1,380 | |
Shares received in relation to shares issued under customer co investment program | 96,566,077 | |
Net proceeds from shares issued under CCIP | € 3,850 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) - EUR (€) | Nov. 03, 2016 | Feb. 05, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Related Party Transaction [Line Items] | ||||||
Zeiss Commitment R&D and Capex investment Contractual Term | 6 years | |||||
Zeiss Commitment Consideration already paid During the Year | € 275,100,000 | € 147,500,000 | ||||
Contractual Obligation | [1] | 8,339,400,000 | ||||
Carl Zeiss SMT Holding GmbH & Co. KG [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Related Party Transaction, Purchases from Related Party | 1,401,000,000 | 1,141,600,000 | € 967,700,000 | |||
Due from Related Parties | 768,100,000 | 497,500,000 | ||||
Net outstanding liability to Intel | 58,100,000 | 143,200,000 | ||||
Any Director or Officer of ASML or any Associate Thereof [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Outstanding indebtedness to ASML owed by or owing to any director or officer of ASML or any associate thereof | 0 | |||||
Transactions outside the normal course of business | 0 | |||||
Any Director or Officer of ASML or any Associate Thereof [Member] | Subsequent Event [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Outstanding indebtedness to ASML owed by or owing to any director or officer of ASML or any associate thereof | € 0 | |||||
Transactions outside the normal course of business | € 0 | |||||
Zeiss High-NA Funding Commitment [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Contractual Obligation - Additional Commitment | 144,900,000 | 325,000,000 | ||||
Contractual Obligation - Cumulative Additional Commitment | 1,229,900,000 | |||||
Contractual Obligation | € 760,000,000 | 795,300,000 | 925,500,000 | |||
Research and Development Costs [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Zeiss Commitment Consideration already paid During the Year | € 74,800,000 | € 55,800,000 | ||||
[1] | 3.We have excluded unrecognized tax benefits for an amount of EUR 208.7 million as the amounts that will be settled in cash are not known and the timing of any payments is uncertain. |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) - Subsequent Event [Member] | 1 Months Ended |
Feb. 05, 2019 | |
Subsequent Event [Line Items] | |
Subsequent events evaluation date | Feb. 5, 2019 |
Subsequent event description | 0 |
Uncategorized Items - asml-2018
Label | Element | Value | |
Additional Paid-in Capital [Member] | Previously Reported [Member] | |||
Stockholders' Equity Attributable to Parent | us-gaap_StockholdersEquity | € 3,732,500,000 | |
Treasury Stock [Member] | Previously Reported [Member] | |||
Stockholders' Equity Attributable to Parent | us-gaap_StockholdersEquity | € (557,900,000) | |
Common Stock [Member] | Previously Reported [Member] | |||
Common Stock, Shares, Outstanding | us-gaap_CommonStockSharesOutstanding | 427,400,000 | [1] |
Stockholders' Equity Attributable to Parent | us-gaap_StockholdersEquity | € 38,800,000 | |
AOCI Attributable to Parent [Member] | Previously Reported [Member] | |||
Stockholders' Equity Attributable to Parent | us-gaap_StockholdersEquity | 251,500,000 | [2] |
Retained Earnings [Member] | |||
Stockholders' Equity Attributable to Parent | us-gaap_StockholdersEquity | 7,226,200,000 | [3] |
Accounting Standards Update 2016-16 [Member] | |||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets1 | (85,300,000) | [4] |
Accounting Standards Update 2016-16 [Member] | Retained Earnings [Member] | |||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets1 | € (85,300,000) | [3],[4] |
[1] | As of December 31, 2018, the number of issued shares was 431,465,767. This includes the number of issued and outstanding shares of 421,097,729 and the number of treasury shares of 10,368,038. As of December 31, 2017, the number of issued shares was 431,464,705. This includes the number of issued and outstanding shares of 427,393,592 and the number of treasury shares of 4,071,113. As of December 31, 2016, the number of issued shares was 439,199,514. This includes the number of issued and outstanding shares of 429,941,232 and the number of treasury shares of 9,258,282. | ||
[2] | As of December 31, 2018, accumulated OCI, net of taxes, consists of EUR 5.8 million loss relating to our proportionate share of other comprehensive income from equity method investments (2017: EUR 1.0 million loss; 2016: no amount), EUR 282.3 million relating to foreign currency translation gain (2017: EUR 264.1 million gain; 2016: EUR 593.1 million gain) and EUR 8.5 million relating to unrealized gains on financial instruments (2017: EUR 11.6 million losses; 2016: EUR 8.1 million gain). | ||
[3] | As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers have been adjusted to reflect these changes in accounting policies, see Note 1 General information / summary of significant accounting policies. The Retained Earnings balance at January 1, 2016 has been increased by EUR 66.1 million to reflect the changes in the new Revenue Recognition Standard. | ||
[4] | 7.As per January 1, 2018, ASML has adopted ASU No. 2016-16 Income Taxes (ASC 740) 'Intra-Entity Transfers of Assets Other Than Inventory', adjusted to retained earnings as of January 1, 2018. See Note 1 General information / summary of significant accounting policies. |