Merck 2010 Annual Report Download - page 200
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EUR million
Dec. 31,
2010
thereof
subsidiaries
Dec. 31,
2009
thereof
subisdiaries
Guarantees 105.0 – 69.0 –
Warranties 0.5 – 1.3 –
Other contingent liabilities 40.7 – 26.2 –
Most of the guarantees issued exist in connection with our pharmaceutical business in Italy, where
pursuant to tax legislation, guarantees must be given for reimbursements of tax receivables from
the Italian fiscal authorities as well as to secure the supply of products to public hospitals. As of
December 31, 2010, these amounted to EUR 54.0 million (2009: EUR 43.0 million). Other contingent
liabilities include, among other things, collateral security given on property, plant and equipment,
for example buildings and potential obligations from legal disputes, for which the probability of an
outflow of resources did not suffice to recognize a provision as of the balance sheet date.
Other financial obligations comprise the following:
EUR million
Dec. 31,
2010
thereof
subsidiaries
Dec. 31,
2009
thereof
subsidiaries
Obligations to acquire intangible assets 1,003.6 – 1,207.5 –
Orders for capital expenditure on property,
plant and equipment 179.2 – 211.0 –
Future operating lease payments 208.8 – 133.3 –
Long-term purchase commitments 315.2 – 326.6 –
Other financial obligations 18.2 – 18.6 –
1,725.0 – 1,897.0 –
Obligations to acquire intangible assets exist in particular within the scope of research and devel-
opment 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 EUR 1,003.6 million (2009: EUR 1,207.5 million) for the
acquisition of intangible assets.
196 Merck Annual Report 2010