General
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Last Update:
March 1, 2012
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4 – Reporting by segment and region

BASF’s worldwide business is conducted by 15 operating divisions that are divided into six segments for reporting purposes on the basis of similar products, production processes and customer industries.

Chemicals consists of the Inorganics, Petrochemicals and Intermediates divisions. We produce a wide variety of basic chemicals and downstream products for both internal and external customers in our integrated production facilities.

Plastics, consisting of the Performance Polymers and Polyurethanes divisions, offers a variety of engineering plastics and the associated system solutions and services.

The Performance Products segment offers innovative and specific system solutions for numerous processing industries. These include, for example, the plastics processing industry, the paper industry, the food and animal feed industry, producers of hygiene products, users of oil field and mining chemicals as well as leather and textiles processors. The segment Performance Products consists of the Dispersions & Pigments, Care Chemicals, Nutrition & Health, Paper Chemicals and Performance Chemicals divisions.

Functional Solutions comprises the Catalysts, Construction Chemicals and Coatings divisions. In this segment, we bundle tailor-made system solutions and innovative products for specific industries, in particular for the automotive, chemical and construction sectors.

The Agricultural Solutions segment corresponds to the Crop Protection division, which primarily offers crop protection products that guard against fungal diseases, insects and weeds.

The Oil & Gas segment is composed of the Oil & Gas division with the Exploration & Production and Natural Gas Trading business sectors.

Activities not assigned to a particular division are reported in Other. These include fertilizers, the sale of raw materials, engineering and other services, rental income and leases.

On January 1, 2011, we carved out our styrenics business and from then onward the carved-out activities were included in Styrenics as reported under Other. The activities that were not affected by the carve-out are still reported under Other, but not as part of Styrenics. On October 1, 2011, BASF transferred its carved-out styrenics business into the joint venture Styrolution. BASF’s share in this joint venture is reported at equity in the Consolidated Financial Statements. Styrenics therefore contributed to sales and income from operations only for the first nine months of 2011.

Group corporate costs consist of the expenses for steering the BASF Group and are not allocated to the segments, but rather reported under Other.

With our corporate research, which is also reported under Other, we develop cross-division and cross-segment growth fields and ensure the long-term competence of BASF with regard to technology and methods, including plant biotechnology.

Earnings from currency conversion reported under Other include earnings not allocated to the segments from the hedging of forecasted sales, from currency positions that are macrohedged as well as from the conversion of financial liabilities. In addition, Other also includes income and expenses from the BASF long-term incentive (LTI) program as well as the results of the hedging of raw material price risks that were not allocated to the segments.

Transfers between the segments are almost always executed at market-based prices. The allocation of assets and depreciation to the segments is based on economic control. Assets used by more than one segment are allocated based on the percentage of usage.

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Income from operations (EBIT) of Other (million €)

 

 

2011

2010

Corporate research costs

(348)

(323)

Costs of the corporate headquarters

(246)

(226)

Styrenics, fertilizers, other businesses

997

400

Foreign currency results, hedging and other measurement effects

(199)

(460)

Miscellaneous income and expenses

(26)

(98)

 

178

(707)

The significant increase in income from operations in Other is in particular due to the gain on the disposal of the styrenics business, which amounted to €593 million. The operating earnings contribution from Styrenics declined compared with the previous year. In contrast, earnings in the fertilizer business and other businesses climbed.

The foreign currency result under Other decreased compared with the previous year. Compared with the prior year, expenses arising from the long-term incentive program in 2011 declined by €293 million to €125 million due to the development in the stock price.

Miscellaneous income and expenses in 2011 includes income of €68 million arising from the repeal of the E.U. fine against the former Ciba in 2009. In 2010, miscellaneous income and expenses included charges related to closed sites.

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Assets of Other (million €)

 

 

2011

2010

Assets of businesses included under Other

2,272

2,690

Financial assets

2,700

3,281

Deferred tax assets

941

1,112

Cash and cash equivalents/marketable securities

2,067

1,509

Defined benefit assets

128

260

Miscellaneous receivables/prepaid expenses

1,863

1,915

 

9,971

10,767

The reconciliation reporting Oil & Gas reconciles the income from operations in the Oil & Gas segment with the contribution of the segment to the net income of the BASF Group.

The Oil & Gas segment’s miscellaneous earnings relate to income and expenses not included in the income from operations of the segment, the interest result as well as the other financial result.

The decrease in income from operations and the lower income taxes are attributable to the months-long suspension of oil production in Libya.

The decrease in income from participations resulted primarily from lower profits at OAO Severneftegazprom (SNG), Krasnoselkup, the Russian Federation, which is accounted for using the equity method. SNG holds the production license to the Yuzhno Russkoye natural gas field in Western Siberia. BASF has a 35% share in the commercial success of the field.

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Reconciliation reporting Oil & Gas (million €)

 

 

2011

2010

Income from operations

2,111

2,334

Income from financial assets

100

226

Miscellaneous earnings

(92)

(69)

Income before taxes and minority interests

2,119

2,491

Income taxes

896

1,340

Thereof income taxes on oil-producing operations non-compensable with German corporate income tax

439

983

Income before minority interests

1,223

1,151

Minority interests

159

228

Net income

1,064

923

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Segments 2011 (million €)

 

 

 

 

 

 

 

Chemicals

Plastics

Performance Products

Functional Solutions

Agricultural Solutions

Oil & Gas

Thereof Exploration & Production

Other

BASF
Group

Sales

12,958

10,990

15,697

11,361

4,165

12,051

3,182

6,275

73,497

Change (%)

13.9

11.8

27.7

17.1

3.3

11.7

(16.7)

7.2

15.1

Intersegmental transfers

6,295

694

490

195

27

1,015

2

411

9,127

Sales including intersegmental transfers

19,253

11,684

16,187

11,556

4,192

13,066

3,184

6,686

82,624

Income from operations

2,442

1,259

1,361

427

808

2,111

1,686

178

8,586

Change (%)

5.7

(1.1)

1.2

(6.6)

7.9

(9.6)

(12.1)

.

10.6

Assets

6,920

5,297

13,680

9,725

5,350

10,232

5,315

9,971

61,175

Thereof goodwill

25

122

1,946

2,023

1,410

389

389

47

5,962

intangible assets

89

104

2,079

1,645

165

1,806

1,760

69

5,957

property, plant and equipment

3,500

2,353

3,844

1,718

669

5,062

2,246

820

17,966

Debt

1,849

1,349

3,321

2,309

1,123

3,267

1,335

22,572

35,790

Research and development expenses

132

149

330

192

412

23

23

367

1,605

Additions to property, plant and equipment and intangible assets

622

423

648

359

150

1,274

692

170

3,646

Amortization of intangible assets and depreciation of property, plant and equipment

746

419

951

494

173

505

356

119

3,407

Thereof impairments

87

4

131

109

14

345

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Segments 2010 (million €)

 

 

 

 

 

 

 

 

Chemicals

Plastics

Performance Products

Functional Solutions

Agricultural Solutions

Oil & Gas

Thereof Exploration & Production

Other

BASF Group

Sales

11,377

9,830

12,288

9,703

4,033

10,791

3,819

5,851

63,873

Change (%)

51.4

37.9

31.3

36.4

10.6

(5.0)

(0.7)

27.8

26.0

Intersegmental transfers

5,476

546

438

159

25

852

41

275

7,771

Sales including intersegmental transfers

16,853

10,376

12,726

9,862

4,058

11,643

3,860

6,126

71,644

Income from operations

2,310

1,273

1,345

457

749

2,334

1,918

(707)

7,761

Change (%)

214.3

129.8

.

327.1

(2.6)

2.0

7.7

(12.8)

111.1

Assets

6,526

5,114

13,409

9,364

5,063

9,150

5,158

10,767

59,393

Thereof goodwill

22

118

1,859

2,041

1,394

389

389

50

5,873

intangible assets

120

116

2,286

1,735

243

1,756

1,706

116

6,372

property, plant and equipment

3,484

2,287

3,983

1,676

619

4,414

2,005

778

17,241

Debt

1,900

1,289

3,723

2,154

1,123

2,825

1,279

23,722

36,736

Research and development expenses

130

141

289

179

393

15

15

345

1,492

Additions to property, plant and equipment and intangible assets

535

250

3,000

208

145

996

478

170

5,304

Amortization of intangible assets and depreciation of property, plant and equipment

690

448

817

404

189

643

510

179

3,370

Thereof impairments

2

3

89

11

96

96

1

202

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Regions 2011 (million €)

 

 

 

 

 

 

Europe

Thereof Germany

North America

Asia Pacific

South America, Africa, Middle East

BASF Group

Location of customers

 

 

 

 

 

 

Sales

39,124

14,705

13,995

14,410

5,968

73,497

Change (%)

17.8

20.3

8.6

15.2

13.1

15.1

Share (%)

53.3

20.0

19.0

19.6

8.1

100.0

Location of companies

 

 

 

 

 

 

Sales

41,036

28,816

14,727

13,316

4,418

73,497

Sales including interregional transfers

47,347

33,974

17,057

13,796

4,652

82,852

Income from operations

5,668

3,249

1,314

1,133

471

8,586

Assets

36,058

21,337

12,209

9,492

3,416

61,175

Thereof property, plant and equipment

10,700

6,853

3,483

3,098

685

17,966

Additions to property, plant and equipment and intangible assets

2,467

1,462

504

551

124

3,646

Amortization of intangible assets and depreciation of property, plant and equipment

2,036

1,204

795

463

113

3,407

Employees as of December 31

70,664

52,049

16,167

17,342

6,968

111,141

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Regions 2010 (million €)

 

 

 

 

 

 

Europe

Thereof Germany

North America

Asia Pacific

South America, Africa, Middle East

BASF Group

Location of customers

 

 

 

 

 

 

Sales

33,201

12,225

12,886

12,510

5,276

63,873

Change (%)

16.4

14.6

35.9

43.7

32.7

26.0

Share (%)

51.9

19.1

20.2

19.6

8.3

100.0

Location of companies

 

 

 

 

 

 

Sales

35,156

25,426

13,246

11,642

3,829

63,873

Sales including interregional transfers

41,312

30,197

15,205

12,098

4,037

72,652

Income from operations

5,206

3,769

1,107

1,271

177

7,761

Assets

35,494

21,494

11,885

8,411

3,603

59,393

Thereof property, plant and equipment

10,134

6,424

3,569

2,853

685

17,241

Additions to property, plant and equipment and intangible assets

3,364

2,273

981

788

171

5,304

Amortization of intangible assets and depreciation of property, plant and equipment

2,137

1,140

697

432

104

3,370

Employees as of December 31

69,809

50,801

16,487

15,965

6,879

109,140

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