Merck 2010 Annual Report Download - page 190
Download and view the complete annual report
Please find page 190 of the 2010 Merck annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180 -
181 -
182 -
183 -
184 -
185 -
186 -
187 -
188 -
189 -
190 -
191 -
192 -
193 -
194 -
195 -
196 -
197 -
198 -
199 -
200 -
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
-
210
-
211
-
212
-
213
-
214
-
215
-
216
-
217
-
218
-
219
-
220
-
221
-
222
-
223
 |
 |
EUR million 2010 2009
Profit transfer in accordance with the Articles of Association
from E. Merck KG to Merck KGaA 3.7 0.6
Profit transfer in accordance with the Articles of Association
from Merck KGaA to E. Merck KG –433.9 –217.9
Changes in reserves of Merck KGaA by E. Merck KG 212.1 66.3
Profit transfer from Merck KGaA to E. Merck KG –218.1 –151.0
Profit transfer from Merck & Cie to E. Merck KG –43.0 –26.8
Profit transfer to E. Merck KG –261.1 –177.8
Changes in financial liabilities to E. Merck KG 71.5 20.6
Changes in other liabilities to E. Merck KG 79.1 –53.2
Changes in liabilities to E. Merck KG 150.6 –32.6
Total cash transfers to and from E. Merck KG –110.5 –210.4
Free cash flow after dividend payments and profit transfers totaled EUR –3,869.7 million (2009:
EUR 529.8 million).
The composition of cash and cash equivalents is presented under Notes to the Balance Sheet.
Free cash flow and underlying free cash flow are indicators that we use internally to measure the
contribution of our divisions to liquidity. Free cash flow includes all net cash flows from operating
activities as well as investing activities performed in connection with operating business. We do not
include in free cash flow pure financial investments and similar monetary deposits of more than
three months, which are also to be reported as net cash flows from investing activities under IFRS.
In the reconciliation of free cash flow to underlying free cash flow, cash flows for both acquisitions
and for divestments are taken into account. The acquisition-related payments of EUR 4,941.9 mil-
lion (2009: EUR 23.5 million) consist of acqusitions amounting to EUR 4,843.7 million (2009:
EUR 23.5 million) as well as other payments amounting to EUR 98.2 million in connection with
the acquisition of Millipore. This concerns acquisition-related costs and social insurance taxes in
connection with the payments for options from the stock option plan. In 2010, we made payments
totaling EUR 240.7 million (2009: EUR 15.7 million) in connection with the existing legal risks that
we continue to be responsible for from the divestment of our former generics subsidiary, Dey Inc., of
the United States. This includes the settlement payment to the U.S. Department of Justice amount-
ing to EUR 214.5 million (see also Note [32]). Furthermore, EUR 9.7 million was recognized from the
divestment of Théramex.
186 Merck Annual Report 2010