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(45) Related party disclosures

Other Disclosures

(45) Related party disclosures

Accounting and Measurement Policies

Related party disclosures

Related parties in respect of the Group are E. Merck KG, Darmstadt, Germany, Emanuel-Merck-Vermögens-KG, Darmstadt, Germany, a related party of E. Merck KG, Darmstadt, Germany, and E. Merck Beteiligungen KG, Darmstadt, Germany, a related party of E. Merck KG, Darmstadt, Germany. Furthermore, direct or indirect subsidiaries of Merck KGaA, Darmstadt, Germany, associates of the Group, joint ventures of the Group, as well as pension funds that are classified as defined benefit plans in accordance with IAS 19 are also related parties within the meaning of IAS 24. Members of the Executive Board and the Supervisory Board of Merck KGaA, Darmstadt, Germany, the Executive Board and the Board of Partners of E. Merck KG, Darmstadt, Germany, as well as close members of their families are also related parties, as are companies controlled or jointly controlled by this group of persons or over which this group of persons can exercise significant influence.

Transactions were conducted with related parties as follows:

As in the previous year, the liabilities of Group companies in respect of E. Merck KG, Darmstadt, Germany, primarily resulted from mutual profit transfers between Merck KGaA, Darmstadt, Germany, and E. Merck KG, Darmstadt, Germany, as well as the profit transfer by Merck & Cie, Altdorf, Switzerland, a subsidiary of Merck KGaA, Darmstadt, Germany, to E. Merck KG, Darmstadt, Germany. They included financial liabilities of € 815.9 million (December 31, 2019: € 808.4 million), subject to standard market interest rates. Neither collateral nor guarantees existed for any of the balances either in favor or to the disadvantage of the Group.

Between January and December 2020, expenses of € 0.7 million (April 26 to December 31, 2019: € 0.1 million) for supplies of goods resulted from transactions with Engel-Apotheke, Darmstadt, whose owner has been a member of the Supervisory Board of Merck KGaA, Darmstadt, Germany, since April 26, 2019.

Information on pension funds that are classified as defined benefit plans in accordance with IAS 19 can be found in Note (33) “Provisions for employee benefits”.

Information on Executive Board and Supervisory Board compensation can be found in Note (46) “Executive Board and Supervisory Board compensation”. Activities above and beyond those described therein, such as the provision of services or the granting of loans, between companies of the Group and members of the Executive Board or the Supervisory Board of Merck KGaA, Darmstadt, Germany, the Executive Board or the Board of Partners of E. Merck KG, Darmstadt, Germany, or members of their immediate families did not take place in either fiscal 2020 or the previous year.