Philips' finances took yet another one-two punch in the form of two non-cash charges. The larger of the two, totaling 1.3 billion euros, is a goodwill impairment charge caused by updates to the financial forecast for its Respironics division. The company is also expecting to take another 165 million euro hit for the quarter, linked to its ongoing work to narrow its R&D focus to a more selective group of pipeline projects.