Including the parent company Merck KGaA, Darmstadt, 203 (2011: 228) German and foreign companies were fully consolidated in the annual financial statements of the Merck Group. Of these companies, 178 (2011: 206) are located abroad. No companies were consolidated on a pro rata basis or using the equity method as of the balance sheet date. Since the beginning of 2012, the following changes have taken place: With the acquisitions of CellASIC Corp, Hayward, CA, USA, and Biochrom AG, Berlin, Germany, two further companies were consolidated. Details of these acquisitions and their impact on the financial statements are presented in Note [4]. Overall, the following further changes in the scope of consolidation had no material impact on the financial statements: Four newly established companies were included in the consolidated financial statements for the first time. Owing to 20 liquidations and 11 mergers, 31 companies were deconsolidated.
Due to secondary importance, 28 (2011: 25) subsidiaries were not consolidated. Overall, the impact of these subsidiaries on sales, profit after tax, assets and equity was less than 1% relative to the entire Merck Group. The interests in subsidiaries not consolidated due to secondary importance are measured at cost and presented under non-current financial assets. The list of shareholdings presents all of the companies included in the consolidated financial statements as well as all of the Merck Group’s shareholdings (see Note [74]).
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