Other assets comprised the following:
| XLS |
|
|
|
|
|
|
|
|
|
€ million |
current |
non-current |
Dec. 31, 2011 |
current |
non-current |
Dec. 31, 2010 |
|
Receivables from third parties |
81.5 |
2.5 |
84.0 |
385.6 |
2.1 |
387.7 |
|
Receivables from related parties |
6.2 |
– |
6.2 |
17.0 |
– |
17.0 |
|
Receivables from affiliates |
0.4 |
– |
0.4 |
2.4 |
– |
2.4 |
|
Other receivables |
88.1 |
2.5 |
90.6 |
405.0 |
2.1 |
407.1 |
|
Receivables from non-income related taxes |
85.0 |
40.7 |
125.7 |
72.8 |
36.0 |
108.8 |
|
Prepaid expenses |
37.1 |
3.6 |
40.7 |
48.2 |
2.7 |
50.9 |
|
Refund claims on plan assets |
17.3 |
– |
17.3 |
18.8 |
– |
18.8 |
|
Derivative assets (operational) |
2.6 |
– |
2.6 |
2.2 |
0.4 |
2.6 |
|
Other assets |
20.1 |
8.1 |
28.2 |
17.7 |
11.7 |
29.4 |
|
|
250.2 |
54.9 |
305.1 |
564.7 |
52.9 |
617.6 |
The decline in other receivables resulted mainly from the receipt of the payment of our selling price receivable amounting to € 269.3 million from the sale of Théramex in 2010. Other assets mainly included prepayments as well as accrued interest income.
Other receivables from third parties past due were as follows:
| XLS |
|
|
|
|
|
€ million |
Dec. 31, 2011 |
Dec. 31, 2010 |
|
Neither past due nor impaired |
69.0 |
345.0 |
|
Past due, but not impaired |
|
|
|
up to 3 months |
4.7 |
8.4 |
|
up to 6 months |
5.6 |
4.8 |
|
up to 12 months |
0.4 |
0.6 |
|
over 1 year |
4.3 |
2.0 |
|
Impaired |
– |
26.9 |
|
Book value |
84.0 |
387.7 |
A settlement payment was made to the U.S. Department of Justice in 2010 in connection with the litigation of our former subsidiary Dey, Inc., USA, which we sold to Mylan. Insofar as this payment is tax-deductible, Merck is entitled to claim reimbursement from Mylan in the amount of the tax credit. The exact amount cannot be definitively determined at this point in time and depends on the assessment made by the tax authorities. Merck had written down this claim by € 52.6 million to a residual book value of € 26.9 million on December 31, 2010. In 2011, we received a partial payment in connection with this issue, which corresponded to the outstanding book value. The remaining claim was written off.
In 2011, we recognized impairments of € 0.7 million on other receivable from third parties (2010: € 0.0 million). Write-ups of other receivables from third parties were not necessary in either 2011 or 2010. With regard to other receivables that are neither impaired nor delayed, as of the reporting date there are no indications that the debtors will not meet their payment obligations.
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