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Last Update:
March 1, 2012
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14 – Investments accounted for using the equity method and other financial assets

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Investments accounted for using the equity method (million €)

 

2011

2010

Balance as of January 1

1,328

1,340

Changes in scope of consolidation

(138)

(280)

Additions

774

93

Disposals

(84)

Transfers/changes in market value

(86)

219

Exchange differences

(26)

40

Balance as of December 31

1,852

1,328

Accumulated valuation adjustments

Net carrying amount as of December 31

1,852

1,328

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Other financial assets (million €)

 

 

 

2011

2010

Investments in other affiliated companies

308

309

Investments in other associated companies

82

86

Shares in other participations

164

1,277

Participations

554

1,672

Loans to affiliated companies

80

20

Loans to associated companies

72

105

Other loans

102

119

Loans

254

244

Long-term securities

40

37

 

848

1,953

The founding of Styrolution resulted in additions to investments accounted for using the equity method in the amount of €734 million in 2011. The acquisition of additional shares in the Heesung Catalysts Corporation led to a proportional consolidation of said company and to the changes in the scope of consolidation in 2011.

BASF has a stake of 15.5% and continues to exercise significant influence over Nord Stream AG, as BASF’s approval is required for relevant board resolutions.

In 2010, the decline under changes in the scope of consolidation included the shares in N.E. Chemcat Corporation, which has been proportionally consolidated since then.

Shares in other participations declined in 2011 due to the disposal of the shares in K+S Aktiengesellschaft. These shares were included in other participations in the amount of €1,111 million as of December 31, 2010.

At the end of 2011, impairment losses of €11 million were recognized in participations.

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