Other financial obligations comprised the following:
| XLS |
|
|
|
|
|
|
|
€ million |
Dec. 31, 2012 |
thereof affiliates |
Dec. 31, 2011 |
thereof affiliates |
|
Obligations to acquire intangible assets |
1,670.7 |
– |
950.5 |
– |
|
Obligations to acquire property, plant and equipment |
111.8 |
– |
84.9 |
– |
|
Future operating lease payments |
207.9 |
– |
178.3 |
– |
|
Long-term purchase commitments |
186.5 |
– |
281.4 |
– |
|
Other financial obligations |
14.8 |
– |
19.1 |
– |
|
|
2,191.7 |
– |
1,514.2 |
– |
Obligations to acquire intangible assets existed 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 € 1,670.7 million (2011: € 950.5 million) for the acquisition of intangible assets. The increase in obligations to acquire intangible assets resulted mainly from in-licensing agreements within the scope of two development projects in the Merck Serono division.
Our expectations regarding the potential maturities of these obligations were as follows:
| XLS |
|
|
|
|
|
€ million |
Dec. 31, 2012 |
Dec. 31, 2011 |
|
Obligations to acquire intangible assets |
|
|
|
within one year |
140.3 |
42.6 |
|
in 1 – 5 years |
308.9 |
120.2 |
|
more than 5 years |
1,221.5 |
787.7 |
|
|
1,670.7 |
950.5 |
Other financial obligations are recognized at nominal value.
The maturities of liabilities from lease agreements were as follows:
| XLS |
|
|
|
|
|
|
|
€ million as of Dec. 31, 2012 |
within 1 year |
1 – 5 years |
more than |
Total |
|
Present value of future payments from finance leases |
2.5 |
6.2 |
1.1 |
9.8 |
|
Interest component of finance leases |
0.2 |
0.1 |
– |
0.3 |
|
Future finance lease payments |
2.7 |
6.3 |
1.1 |
10.1 |
|
|
|
|
|
|
|
Future operating lease payments |
72.0 |
126.9 |
9.0 |
207.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
€ million as of Dec. 31, 2011 |
within 1 year |
1 – 5 years |
more than |
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 |
Operating lease agreements related mainly to market-usual leasing arrangements to lease operating and office equipment. The payments resulting from operating lease agreements amounted to € 102.6 million (2011: € 75.6 million) and were recorded as an expense in the reporting period.
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