Other financial obligations comprise the following:
| XLS |
|
|
|
|
|
|
|
€ million |
Dec. 31, 2011 |
thereof |
Dec. 31, 2010 |
thereof |
|
Obligations to acquire intangible assets |
950.5 |
– |
1,003.6 |
– |
|
Orders for capital expenditure on property, plant and equipment |
84.9 |
– |
179.2 |
– |
|
Future operating lease payments |
178.3 |
– |
208.8 |
– |
|
Long-term purchase commitments |
281.4 |
– |
315.2 |
– |
|
Other financial obligations |
19.1 |
– |
18.2 |
– |
|
|
1,514.2 |
– |
1,725.0 |
– |
Obligations to acquire intangible assets exist in particular within the scope of research and development collaborations. Here Merck has obligations to make milestone payments when its partner achieves certain objectives. In the unlikely event that all contract partners achieve all milestones, Merck would be obligated to pay up to € 950.5 million (2010: € 1,003.6 million) for the acquisition of intangible assets.
Our expectations regarding the potential maturities of these obligations are as follows:
| XLS |
|
|
|
|
|
|
|
€ million as of Dec. 31, 2011 |
within 1 year |
1 - 5 years |
more than 5 years |
Total |
|
Obligations to acquire intangible assets |
42.6 |
120.2 |
787.7 |
950.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
€ million as of Dec. 31, 2010 |
within 1 year |
1 - 5 years |
more than 5 years |
Total |
|
Obligations to acquire intangible assets |
32.9 |
219.3 |
751.4 |
1,003.6 |
Other financial obligations are carried at nominal value. The maturities of liabilities from lease agreements are composed as follows:
| XLS |
|
|
|
|
|
|
|
€ million as of Dec. 31, 2011 |
within 1 year |
1 - 5 years |
more than 5 years |
Total |
|
Present value of future payments from finance leases |
2.5 |
7.6 |
1.7 |
11.8 |
|
Interest component of finance leases |
0.4 |
0.8 |
– |
1.2 |
|
Future finance lease payments |
2.9 |
8.4 |
1.7 |
13.0 |
|
|
|
|
|
|
|
Future operating lease payments |
50.7 |
104.9 |
22.7 |
178.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
€ million as of Dec. 31, 2010 |
within 1 year |
1 - 5 years |
more than 5 years |
Total |
|
Present value of future payments from finance leases |
1.8 |
3.0 |
2.3 |
7.1 |
|
Interest component of finance leases |
0.3 |
0.3 |
– |
0.6 |
|
Future finance lease payments |
2.1 |
3.3 |
2.3 |
7.7 |
|
|
|
|
|
|
|
Future operating lease payments |
50.3 |
130.3 |
28.2 |
208.8 |
Operating lease agreements relate mainly to market-typical leasing arrangements to lease operating and office equipment. The payments resulting from operating lease agreements amounted to € 75.6 million (2010: € 72.0 million) and were recorded as an expense in 2011.
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