Other financial obligations comprised the following:
| XLS |
|
|
|
|
|
|
|
€ million |
Dec. 31, 2013 |
thereof affiliates |
Dec. 31, 2012 |
thereof affiliates |
|
Obligation to purchase the entire share capital of AZ Electronic Materials S.A. |
1,876.5 |
– |
– |
– |
|
Obligations to acquire intangible assets |
2,000.2 |
– |
1,670.7 |
– |
|
Obligations to acquire property, plant and equipment |
44.7 |
– |
111.8 |
– |
|
Future operating lease payments |
172.0 |
– |
207.9 |
– |
|
Long-term purchase commitments |
151.5 |
– |
186.5 |
– |
|
Other financial obligations |
29.0 |
– |
14.8 |
– |
|
|
4,273.9 |
– |
2,191.7 |
– |
In connection with the offer published by Merck on December 20, 2013 to acquire AZ Electronic Materials S.A., Luxembourg, (AZ), a conditional financial commitment exists in the amount of € 1,876.5 million (£ 1,565 million; based on an exchange rate of € 1 = £ 0.834 on December 31, 2013) for the purchase of the entire share capital of AZ in cash. Among other things, the successful completion of the transaction is subject to antitrust approval as well as the achievement of a minimum acceptance level of 95% of the share capital.
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 € 2,000.2 million (2012: € 1,670.7 million) for the acquisition of intangible assets.
Our expectations regarding the potential maturities of these obligations were as follows:
| XLS |
|
|
|
|
|
€ million |
Dec. 31, 2013 |
Dec. 31, 2012 |
|
Obligations to acquire intangible assets |
|
|
|
within one year |
56.8 |
140.3 |
|
in 1 – 5 years |
508.4 |
308.9 |
|
more than 5 years |
1,435.0 |
1,221.5 |
|
|
2,000.2 |
1,670.7 |
Other financial obligations were recognized at nominal value.
The maturities of liabilities from lease agreements were as follows:
| XLS |
|
|
|
|
|
|
|
€ million |
within 1 year |
1 – 5 years |
more than 5 years |
Total |
|
Present value of future payments from finance leases |
2.3 |
5.0 |
0.4 |
7.7 |
|
Interest component of finance leases |
0.4 |
0.1 |
0.1 |
0.6 |
|
Future finance lease payments |
2.7 |
5.1 |
0.5 |
8.3 |
|
|
|
|
|
|
|
Future operating lease payments |
64.9 |
103.0 |
4.1 |
172.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
€ million |
within 1 year |
1 – 5 years |
more than 5 years |
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 |
Operating lease agreements related mainly to customary leasing arrangements to lease operating and office equipment. The payments resulting from operating lease agreements amounted to € 104.0 million (2012: € 102.6 million) and were recorded as an expense in the reporting period.
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