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Other assets
 12 Months Ended
Dec. 31, 2012
Other assets [Abstract]  
Other assets

8. Other assets

Other current assets consist of the following:

 

                 
     

As of December 31

(in thousands)

  

2012

EUR

    

2011

EUR

  

 

  
     

Advance payments to Zeiss

     70,257       66,203  

Prepaid expenses

     64,708       56,300  

Derivative financial instruments

     50,097       33,817  

VAT

     25,215       47,543  

Other receivables

     35,728       34,232  

 

  
     

Other current assets

 

                     246,005                       238,095  

Zeiss is our sole supplier of main optical systems (including lenses) and, from time to time, receives non-interest bearing advance payments from us that assist in financing Zeiss’ work-in-process and thereby secure lens and optical module deliveries to us. Amounts owed under these advance payments are repaid or settled through lens or EUV optical module deliveries over the following 12 months.

Prepaid expenses include a tax prepayment on intercompany profit, not realized by the ASML group of EUR 29.8 million as of December 31, 2012 (2011: EUR 27.5 million).

Derivative financial instruments consist of forward foreign exchange contracts and the current part of the aggregate fair value of interest rate swaps which includes accrued interest.

Other non-current assets consist of the following:

 

                 
     

As of December 31

(in thousands)

  

2012

EUR

    

2011

EUR

  

 

  
     

Advance payments to Zeiss

                     183,025                       187,950  

Derivative financial instruments

     101,651       92,534  

Compensation plan assets1

     12,080       10,577  

Prepaid expenses

     4,462       5,749  

Subordinated loan granted to lessor in respect of Veldhoven headquarters 2

     5,445       5,445  

Other

     4,875       4,996  

 

  
     

Other non-current assets

 

     311,538       307,251  

 

1 For further details on compensation plan assets see Note 17.
2 For further details on the loan granted to lessor in respect of Veldhoven headquarters see Note 11.

The non-current part of advance payments to Zeiss mainly relates to payments made to support the Zeiss’ investments in ASML’s EUV program, which are expected to be repaid or settled through EUV optical module deliveries.

Derivative financial instruments consist of the non-current part of the fair value of interest rate swaps.