Related parties in respect of the Merck Group are E. Merck KG as well as Emanuel Merck Vermögens KG and E. Merck Beteiligungen KG. In principle, direct or indirect subsidiaries of Merck KGaA, associates and joint ventures of the Merck Group as well as pension funds that are classified as funded defined benefit plans in accordance with IAS 19 are also related parties within the meaning of IAS 24. Members of the Executive Board and the Supervisory Board of Merck KGaA, the Board of Management and the Board of Partners of E. Merck KG as well as close members of their families are also related parties.
As of December 31, 2010, there were liabilities by Merck KGaA, Merck Financial Services GmbH and Merck & Cie, Altdorf, to E. Merck KG in the amount of EUR 450.9 million (2009: EUR 292.6 million). In addition, as of December 31, 2010, Merck KGaA had receivables in the amount of EUR 12.3 million (2009: EUR 10.7 million) from E. Merck KG and from E. Merck Beteiligungen KG in the amount of EUR 4.7 million (2009: EUR 4.2 million). The balances result mainly from the profit transfers by Merck & Cie to E. Merck KG, the reciprocal profit transfers between Merck KGaA and E. Merck KG as well as the extension of loans by E. Merck KG to Merck Financial Services GmbH. These financial payables of EUR 190.3 million (2009: EUR 118.8 million) are subject to standard market interest rates.
From January to December 2010, Merck KGaA and Merck Shared Services Europe GmbH performed services for E. Merck KG with a value of EUR 1.1 million (2009: EUR 1.2 million), for E. Merck Beteiligungen KG with a value of EUR 0.4 million (2009: EUR 0.4 million), and for Emanuel Merck Vermögens KG with a value of EUR 0.2 million (2009: EUR 0.1 million). During the same period, E. Merck KG performed services for Merck KGaA with a value of EUR 0.5 million (2009: EUR 0.5 million).
Business transactions with major subsidiaries have been eliminated during consolidation and are not disclosed further in the Notes. Information on pension funds that are classified as funded defined benefit plans in accordance with IAS 19 can be found under Provisions for pensions and other post-employment benefits. There were no further material transactions with these pension funds.
From January to December 2010, companies of the Merck Group supplied goods with a value of EUR 1.1 million (2009: EUR 0.3 million) to associates. As of December 31, 2010, companies of the Merck Group had receivables from associates amounting to EUR 0.8 million (2009: EUR 0.0 million) There were no further material transactions with associates.
There were no additional material transactions such as, for example, the provision of services or the extension of loans, between the companies of the Merck Group and members of the Executive Board and the Supervisory Board of Merck KGaA, the Executive Board and the Board of Partners of E. Merck KG or members of their immediate families.