Merck 2014 Annual Report Download - page 249

244 CONSOLIDATED FINANCIAL STATEMENTS → Notes to the Group accounts
(60) OTHER FINANCIAL OBLIGATIONS
Other financial obligations comprised the following:
€ million Dec. 31, 2014 thereof affiliates Dec. 31, 2013 thereof affiliates
Obligation to purchase the entire share capital of
Sigma-Aldrich Corporation
13,975.0 – – –
Obligation to purchase the entire share capital of
AZ Electronic Materials S.A. – – 1,876.5 –
Obligations to acquire intangible assets 1,494.8 – 2,000.2 –
Obligations to acquire property, plant and equipment 55.3 – 44.7 –
Future operating lease payments 199.7 – 172.0 –
Long-term purchase commitments 138.4 – 151.5 –
Other financial obligations 30.8 – 29.0 –
15,894.0 – 4,273.9 –
In connection with the offer to acquire Sigma-Aldrich Corpora-
tion, USA, which was announced by the Group, on September 22,
2014, there is a contingent financial obligation
in the amount of
€13,975.0 million (US$16,985.2 million;
€ / US$exchange rate
on December 31, 2014: 1.2154) to acquire the entire share capital
of Sigma-Aldrich for a cash consideration.
If the merger agreement with Sigma-Aldrich is terminated, the
Group will be obligated to pay Sigma- Aldrich a termination fee of
€ 768.8 million (US$ 934.4. million, € / US$ exchange rate on
December 31, 2014: 1.2154).
Obligations to acquire intangible assets existed in particular within
the scope of research and development collaborations. Here the
Group
has obligations to make milestone payments when its
partner
achieves certain objectives.
In the unlikely event that all contract partners achieve all
milestones, the Group would be obligated to pay up to € 1,494.8
million
(2013: € 2,000.2 million) for the acquisition of intangible
assets.
Our expectations regarding the potential maturities of these
obligations were as follows:
€ million Dec. 31, 2014 Dec. 31, 2013
Obligations to acquire intangible assets
within one year 61.2 56.8
in 1– 5 years 390.2 508.4
more than 5 years 1,043.4 1,435.0
1,494.8 2,000.2
Other financial obligations were recognized at nominal value.