Merck 2008 Annual Report Download - page 111

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Impairment losses totaled € 6.6 million in fiscal 2008. Of this amount, € 6.0 million
relates to expenses in connection with closures and disposal measures within the Per-
formance & Life Science Chemicals division and the relevant sites in the United States
and Brazil. This expense is recognized under Exceptional items.
Property, plant and equipment amounting to € 9.1 million serve as collateral (2007:
€ 15.9 million). Total government grants and subsidies during the fiscal year
amounted to € 7.1 million (2007: € 7.1 million).
Property, plant and equipment also includes assets that are rented or leased. The
total value of capitalized leased assets amounts to € 12.7 million and the correspond-
ing obligations amount to € 9.5 million (see Note [26] Fi nancial liabilities).
The book values of capitalized leased assets are as follows:
€ million
Dec. 31,
2008
Dec. 31,
2007
Capitalized leased buildings 11.7 11.7
Capitalized leased vehicles 0.8 0.2
Capitalized leased other property, plant and equipment 0.2 0.3
12.7 12.2
106 | Merck Annual Report 2008