Merck 2014 Annual Report Download - page 213

208 CONSOLIDATED FINANCIAL STATEMENTS → Notes to the Group accounts
Changes in the scope of consolidation included the additions to
property, plant and equipment from the acquisition of AZ Elec-
tronic Materials S.A., Luxembourg. A detailed presentation of the
AZ acquisition can be found in Note [4].
Material additions to construction in progress are attributable
to the expansion of global headquarters and the construction of
two new energy stations at the Darmstadt site. Transfers relating
to construction in progress mainly include a new liquid crystal
mixing plant in Shanghai, China, which was completed and com-
missioned in the first quarter of 2014.
In fiscal 2014, impairment losses in the amount of €5.7million
(2013: €41.7million) were recognized, of which a major part re-
lated to the Performance Materials division.
The total amount of property, plant and equipment used to secure
financial liabilities was immaterial. Total government grants and
subsidies in connection with investments in property, plant and
equipment during the fiscal year amounted to €3.7 million (2013:
€2.9 million).
Directly allocable borrowing costs on qualified assets in the
amount of €3.2 million (2013: €0.4 million) were capitalized.
Property, plant and equipment also included assets that were
leased. The total value of capitalized leased assets amounted to
€9.4 million (2013: €9.3 million) and the corresponding obliga-
tions amounted to €6.5 million (2013: €7.7 million), (see Note [60]).
The carrying amounts of assets classified as finance leases
were as follows:
€ million Dec. 31, 2014 Dec. 31, 2013
Land and buildings 6.8 7.1
Vehicles 1.1 1.4
Other property, plant and equipment 1.5 0.8
9.4 9.3
(43) NON-CURRENT FINANCIAL ASSETS
€ million Dec. 31, 2014 Dec. 31, 2013
Investments 21.5 19.2
Investments in associates and other companies 57.9 34.3
Securities – Available-for-sale financial assets 1.3 3.8
Assets from derivatives (financial transactions) – 4.7
Loans and other non-current financial assets 13.7 15.8
94.4 77.8
Unconsolidated investments and the investments in associates and
other companies were classified as “available-for-sale”. Thereof
investments with a carrying amount of € 66.9 million (2013:
€52.3 million) were subsequently measured at cost since their
market value could not be determined. The increase in invest-
ments in associates and other companies resulted mainly from the
investment in InfraServ GmbH & Co. Wiesbaden KG, amounting
to €10.8 million, which were acquired in the course of the acqui-
sition of AZ Electronic Materials S.A.
In 2014, impairment losses were recognized for unconsolidated
investments and for other available-for-sale non-current financial
assets in a total amount of €4.4 million (2013: €5.5 million).
These were recorded in the income statement under other operating
expenses.
Moreover, fair value adjustments of €0.6 million (2013: €1.2
million) were made on available-for-sale non-current financial
assets and recognized in equity.