Merck 2010 Annual Report Download - page 186
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A strong equity position is important for Merck to ensure the continued existence of the company.
Based on our financial strategy, the Executive Board regularly reviews various key figures that
reflect the capitalization of the company. Gearing (ratio of net debt and pension provisions to net
equity) and the equity ratio are important indicators here.
As of the balance sheet date, the number of shares issued totaled 64,621,126. The amount result-
ing from the issue of shares by Merck KGaA exceeding the nominal amount is recognized in the
capital reserves. The reserves also contain the retained earnings and the net retained profit of the
consolidated subsidiaries as well as actuarial income and losses.
The disclosure of non-controlling interest is based on the stated equity of the subsidiaries con-
cerned after any adjustment required to ensure compliance with the accounting policies of the
Merck Group, as well as pro rata consolidation entries.
The net equity attributable to non-controlling interests mainly relates to the minority interests in
Merck Ltd. India, Merck Ltd., Thailand, Merck S.A. France, and PT Merck Tbk, Indonesia.
In addition to the dividend payments to the shareholders of Merck KGaA and to minority sharehold-
ers in subsidiaries of the Merck Group, the appropriation of profits includes the transfer of profits
from Merck & Cie to E. Merck KG in accord ance with the company agreements. It also includes the
reciprocal transfer of profits be tween E. Merck KG and Merck KGaA in accordance with the Articles
of Association, which is as follows:
2010 2009
EUR million E. Merck KG Merck KGaA E. Merck KG Merck KGaA
Result of E. Merck KG 12.3 – –2.9 –
Result of ordinary activities of Merck KGaA – 709.4 – 309.2
Extraordinary result – –21.0 – –
Adjustment for trade income tax in accordance with § 27 (1) Articles of
Associaton of Merck KGaA 0.0 – 4.8 –
Trade income tax in accordance with § 30 (1) Articles of Association of
Merck KGaA – –71.0 – 0.9
Basis for the appropriation of profits (100%) 12.3 617.4 1.9 310.1
Profit transfer to E. Merck KG
Ratio general partner’s capital to total capital (70.274%) 433.9 –433.9 217.9 –217.9
Profit transfer from E. Merck KG
Ratio share capital to total capital (29.726%) –3.7 3.7 –0.6 0.6
Trade tax 0.0 – –4.8 –
Corporate income tax – –16.7 – –0.1
Net income 442.5 170.5 214.4 92.7
182 Merck Annual Report 2010