(44) Other financial obligations
Other financial obligations comprised the following:
€ million |
|
Dec. 31, 2023 |
|
Dec. 31, 2022 |
|---|---|---|---|---|
Acquisition of intangible assets |
|
1,431 |
|
1,050 |
Acquisition of property, plant, and equipment |
|
483 |
|
280 |
Other financial obligations |
|
1,914 |
|
1,330 |
Obligations to acquire intangible assets existed in particular owing to contingent considerations within the scope of in-licensing and research and development collaborations. In these agreements, the Group has entered into an obligation to make milestone payments once specific targets have been reached. In the unlikely event that all of the milestones are achieved, the Group would be obligated to pay up to € 1,431 million (December 31, 2022: € 1,050 million) for the acquisition of intangible assets. The table above does not contain any other financial obligations from possible future sales-based license fees and milestone payments.
The expected maturities of the obligations to acquire intangible assets were as follows:
€ million |
|
Dec. 31, 2023 |
|
Dec. 31, 2022 |
|---|---|---|---|---|
Within 1 year |
|
278 |
|
48 |
In 1-5 years |
|
548 |
|
326 |
After more than 5 years |
|
604 |
|
676 |
Obligations to acquire intangible assets |
|
1,431 |
|
1,050 |
Other financial obligations were recognized at nominal value.