Merck 2014 Annual Report Download - page 233

228 CONSOLIDATED FINANCIAL STATEMENTS → Notes to the Group accounts
One-time items comprised the following:
€ million 2014 2013
Integration costs / IT costs – 87.2 – 49.0
Acquisition-related one-time items – 85.0 –
Restructuring costs – 83.9 –130.5
Gains / losses on the divestment of businesses 1.9 – 2.3
Other one-time items –10.6 – 2.3
One-time items – 264.8 – 184.1
Impairment losses – 9.8 – 207.2
Reversals of impairments – 4.5
One-time items (total) – 274.6 – 386.8
Of the acquisition-related one-time items of €85.0 million (2013:
€0.0 million), €60.5 million related to the step-up of the acquired
inventories of AZ Electronic Materials S.A. (AZ).
Additionally, this figure included acquisition costs of €24.5
million
for the acquisition of AZ and the planned acquisition of
the Sigma-Aldrich Corporation, USA.
Business free cash flow was determined as follows:
€ million 2014 2013
EBITDA pre one-time items 3,387.7 3,253.3
Less investments in property, plant and equipment, software as well as
advance payments for intangible assets – 527.5 – 446.2
Changes in inventories as reported in the balance sheet –185.5 59.7
Changes in trade accounts receivable as reported in the balance sheet – 214.2 93.2
Adjustment first-time consolidation of AZ Electronic Materials S.A. 144.6 –
Business free cash flow 2,605.1 2,960.0