General
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Last Update:
March 1, 2012
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13 – Property, plant and equipment

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Development of property, plant and equipment 2011 (million €)

 

Land, land rights and buildings

Machinery and technical equipment

Miscellaneous equipment and fixtures

Construction in progress

Total

Cost

 

 

 

 

 

Balance as of January 1, 2011

8,793

39,849

3,045

3,045

54,732

Changes in scope of consolidation

24

57

8

18

107

Additions

112

1,000

145

1,942

3,199

Disposals

(108)

(591)

(127)

(51)

(877)

Transfers

6

1,669

79

(2,132)

(378)

Exchange differences

107

459

27

27

620

Balance as of
December 31, 2011

8,934

42,443

3,177

2,849

57,403

Accumulated valuation adjustments

 

 

 

 

 

Balance as of January 1, 2011

4,918

30,086

2,482

5

37,491

Changes in scope of consolidation

5

11

5

8

29

Additions

299

2,114

195

10

2,618

Disposals

(73)

(547)

(119)

(739)

Transfers

(125)

(238)

8

(355)

Exchange differences

44

327

20

2

393

Balance as of
December 31, 2011

5,068

31,753

2,591

25

39,437

Net carrying amount as of December 31, 2011

3,866

10,690

586

2,824

17,966

Additions to fixed assets in 2011 amounted to €3,199 million. A total of €66 million of property, plant and equipment resulted from acquisitions, primarily from BASF’s stake in the cogeneration power plant of Zandvliet Power N.V., Antwerp, Belgium. Further continuing investments related particularly to: the construction of the intermodal transportation terminal in Ludwigshafen, Germany; the construction of a new oleum/sulfuric acid plant in Antwerp, Belgium; the construction of natural gas pipelines in Europe (particularly OPAL and NEL); and the construction of a production plant for methylamines in Geismar, Louisiana.

The amounts recorded under transfers were primarily related to fertilizer activities. Property, plant and equipment belonging to fertilizer activities were reclassified to assets of disposal groups.

In 2011, impairments of €231 million were recognized in valuation adjustments. A significant portion of the impairments related to production facilities in the Petrochemicals division at the Port Arthur, Texas site as well as to property, plant and equipment in the Paper Chemicals division at a site in the United States.

Changes in the scope of consolidation related primarily to Heesung Catalyst Corporation, which was proportionally consolidated for the first time.

There were no reversals of impairment recorded in 2011.

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Development of property, plant and equipment 2010 (million €)

 

Land, land rights and buildings

Machinery and technical equipment

Miscellaneous equipment and fixtures

Construction in progress

Total

Cost

 

 

 

 

 

Balance as of January 1, 2010

8,071

38,833

2,936

2,103

51,943

Changes in scope of consolidation

34

(2)

21

(7)

46

Additions

368

983

142

1,801

3,294

Disposals

(57)

(464)

(107)

(36)

(664)

Transfers

96

(507)

(28)

(857)

(1,296)

Exchange differences

281

1,006

81

41

1,409

Balance as of
December 31, 2010

8,793

39,849

3,045

3,045

54,732

Accumulated valuation adjustments

 

 

 

 

 

Balance as of January 1, 2010

4,561

28,725

2,359

13

35,658

Changes in scope of consolidation

14

(20)

17

(7)

4

Additions

276

2,192

199

2,667

Disposals

(26)

(399)

(98)

(523)

Transfers

(12)

(1,057)

(56)

(1,125)

Exchange differences

105

645

61

(1)

810

Balance as of
December 31, 2010

4,918

30,086

2,482

5

37,491

Net carrying amount as of December 31, 2010

3,875

9,763

563

3,040

17,241

Additions to property, plant and equipment in 2010 arose primarily from the Cognis acquisition and the associated preliminary purchase price allocation. Additions to fixed assets from the acquisition amounted to €833 million. Further investments in 2010 primarily related to: the expansion of the Ecoflex/Ecovio plant in Ludwigshafen, Germany; the construction of natural gas pipelines in Europe (in particular OPAL and NEL); expansion measures at the site in Nanjing, China; construction of an oleum/ sulfuric acid plant in Antwerp, Belgium; and the construction of a production plant for methylamines in Geismar, Louisiana.

The amounts recorded under transfers resulted in particular from the reclassification of selected items of property, plant and equipment from the styrenics plastics business to assets of disposal groups.

In 2010, impairments of €128 million were recognized. Impairment charges of €68 million were recognized in connection with the restructuring of Ciba, which had been acquired in 2009, in particular at the site in Grenzach, Germany.

Changes in the scope of consolidation related primarily to the N.E. Chemcat Corporation, Tokyo, Japan, which was proportionally consolidated for the first time.

An impairment loss taken in 2008 for our site in Altamira, Mexico, was reversed in 2010 following significantly improved business development. The €40 million reversal was recorded under transfers.

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