Merck 2010 Annual Report Download - page 170
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Tax receivables amounted to EUR 93.7 million (2009: EUR 55.3 million) and resulted from tax pre-
payments that exceed the actual amount of tax pay able for 2010 and prior fiscal years, and from
refund claims for prior years as well as withholding tax credits.
Merck announced on December 20, 2010 the sale of the Crop BioScience business, which was part
of the Performance Materials division, to Novozymes A/S, Denmark. The agreement is subject to cus-
tomary regulatory approvals. The transaction is expected to close at the beginning of 2011. The Crop
BioScience business generated sales of around EUR 46 million in 2010. For this item, EUR 36.7 mil-
lion was disclosed in the consolidated balance sheet as of December 31, 2010 as assets held for sale
and EUR 5.9 million as liabilities directly related to assets held for sale.
The following table presents this item in more detail:
EUR million Dec. 31, 2010
Cash and cash equivalents 1.2
Inventories 4.6
Receivables 10.6
Other current assets 0.6
Intangible assets 13.4
Property, plant and equipment 4.4
Other non-current assets 1.9
Trade accounts payable 1.0
Other current liabilities 4.7
Non-current liabilities
Liabilities directly related to assets held for sale 5.9
166 Merck Annual Report 2010