27. Off-balance sheet arrangements
Contractual obligations and commitments
We entered into lease agreements for offices, laboratories and cars. As a consequence of the adoption of IFRS 16 Leases, on 1 January 2019, lease obligations in the scope of the new standard are presented as lease liabilities in the statements of financial position and no longer disclosed separately as off-balance sheet commitments. We refer to note 22 for a breakdown of our lease liabilities.
On 31 December 2020, we had outstanding obligations for future purchase commitments, which become due as follows:
(thousands of €) |
Total |
Less than |
1 – 3 years |
3 – 5 years |
More than |
Purchase commitments |
347,873 |
271,922 |
73,009 |
2,870 |
72 |
On 31 December 2019, we had outstanding obligations for purchase commitments, which become due as follows:
(thousands of €) |
Total |
Less than |
1 – 3 years |
3 – 5 years |
More than |
Purchase commitments |
251,670 |
175,006 |
70,675 |
5,989 |
- |
On 31 December 2019 we were committed to two leases which had not yet started. The total future cash outflows for leases that had not yet commenced were as follows:
(thousands of €) |
Total |
Less than |
1 – 3 years |
3 – 5 years |
More than |
Lease commitments not commenced |
8,986 |
5,793 |
1,502 |
1,502 |
188 |
In addition to the tables above, we have a contractual cost sharing obligation related to our collaboration agreement with Gilead for filgotinib. The contractual cost sharing commitment amounted to €614.1 million at 31 December 2019.
On 31 December 2020, after the recent renegotiation of the filgotinib collaboration, our estimate of this cost sharing commitment amounts to €493.4 million, for which we have direct purchase commitments of €18.1 million at 31 December 2020 (€27.5 million at 31 December 2019) reflected in the tables above.