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27. Noncontrolling interest

Noncontrolling interest subject to put provisions

The Fresenius Group has potential obligations to purchase the noncontrolling interests held by third parties in certain of its consolidated subsidiaries. These obligations are in the form of put provisions and are exercisable at the third-party owners’ discretion within specified periods as outlined in each specific put provision. If these put provisions were exercised, the Fresenius Group would be required to purchase all or part of third-party owners’ noncontrolling interests at the appraised fair value at the time of exercise.

Noncontrolling interest subject to put provisions changed as follows:

€ in millions 2012
Noncontrolling interest subject to put provisions as of January 1, 2012 317
Noncontrolling interest subject to put provisions in profit 72
Purchase of noncontrolling interest subject to put provisions 116
Dividend payments -87
Currency effects, first-time consolidations and other changes -20
Noncontrolling interest subject to put provisions as of December 31, 2012 398

€ in millions 2012
Noncontrolling interest subject to put provisions as of January 1, 2012 317
Noncontrolling interest subject to put provisions in profit 72
Purchase of noncontrolling interest subject to put provisions 116
Dividend payments -87
Currency effects, first-time consolidations and other changes -20
Noncontrolling interest subject to put provisions as of December 31, 2012 398

As of December 31, 2012 and 2011, €173 million and €88 million, respectively, were exercisable. One put option was exercised for a total consideration of €2 million in 2012.

Noncontrolling interest not subject to put provisions

As of December 31, noncontrolling interest not subject to put provisions in the Fresenius Group was as follows:

€ in millions 2012 2011
Noncontrolling interest not subject to put provisions in
Fresenius Medical Care AG & Co. KGaA
4,692 4,254
Noncontrolling interest not subject to put provisions in VAMED AG 33 28
Noncontrolling interest not subject to put provisions in the business segments    
Fresenius Medical Care 201 123
Fresenius Kabi 86 63
Fresenius Helios 111 136
Fresenius Vamed 2 2
Total noncontrolling interest not subject to put provisions 5,125 4,606

€ in millions 2012 2011
Noncontrolling interest not subject to put provisions in
Fresenius Medical Care AG & Co. KGaA
4,692 4,254
Noncontrolling interest not subject to put provisions in VAMED AG 33 28
Noncontrolling interest not subject to put provisions in the business segments    
Fresenius Medical Care 201 123
Fresenius Kabi 86 63
Fresenius Helios 111 136
Fresenius Vamed 2 2
Total noncontrolling interest not subject to put provisions 5,125 4,606

Due to the maturity of the Mandatory Exchangeable Bonds on August 14, 2011, Fresenius SE & Co. KGaA’s shareholding in Fresenius Medical Care
AG & Co. KGaA (FMC-AG & Co. KGaA) was reduced by 15,722,644 ordinary shares to 30.4% of the ordinary share capital. From November 2011 to February 2012, Fresenius SE & Co. KGaA purchased 3,500,000 ordinary shares of FMC-AG & Co. KGaA. Therewith, Fresenius SE & Co. KGaA’s shareholding in FMC-AG & Co. KGaA amounted to 31.2% of the ordinary share capital as of December 31, 2012.

Noncontrolling interest not subject to put provisions changed as follows:

€ in millions 2012
Noncontrolling interest not subject to put provisions as of January 1, 2012 4,606
Noncontrolling interest not subject to put provisions in profit 734
Stock options 79
Purchase of noncontrolling interest not subject to put provisions 56
Dividend payments -204
Purchase of ordinary shares of FMC-AG & Co. KGaA -43
Currency effects, first-time consolidations and other changes -103
Noncontrolling interest not subject to put provisions
as of December 31, 2012
5,125

€ in millions 2012
Noncontrolling interest not subject to put provisions as of January 1, 2012 4,606
Noncontrolling interest not subject to put provisions in profit 734
Stock options 79
Purchase of noncontrolling interest not subject to put provisions 56
Dividend payments -204
Purchase of ordinary shares of FMC-AG & Co. KGaA -43
Currency effects, first-time consolidations and other changes -103
Noncontrolling interest not subject to put provisions
as of December 31, 2012
5,125

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