28 – Leasing
Leased assets
Property, plant and equipment include those assets which are considered to be economically owned through a finance lease. They primarily concern the following items:
Leased assets (in million €) |
|||||
|
|
December 31, 2015 |
December 31, 2014 |
||
|---|---|---|---|---|---|
|
|
Acquisition cost |
Net book value |
Acquisition cost |
Net book value |
Land, land rights and buildings |
|
45 |
25 |
43 |
30 |
Machinery and technical equipment |
|
117 |
31 |
118 |
32 |
Miscellaneous equipment and fixtures |
|
44 |
13 |
44 |
14 |
Total |
|
206 |
69 |
205 |
76 |
Liabilities from finance leases (in million €) |
|||||||
|
|
December 31, 2015 |
December 31, 2014 |
||||
|---|---|---|---|---|---|---|---|
|
|
Minimum lease payments |
Interest portion |
Leasing liability |
Minimum lease payments |
Interest portion |
Leasing liability |
Following year 1 |
|
28 |
5 |
23 |
26 |
6 |
20 |
Following year 2 |
|
21 |
5 |
16 |
24 |
4 |
20 |
Following year 3 |
|
16 |
3 |
13 |
18 |
4 |
14 |
Following year 4 |
|
11 |
3 |
8 |
13 |
3 |
10 |
Following year 5 |
|
10 |
3 |
7 |
10 |
3 |
7 |
More than 5 years |
|
31 |
13 |
18 |
38 |
15 |
23 |
Total |
|
117 |
32 |
85 |
129 |
35 |
94 |
In 2015 and in 2014, no additional lease payments exceeding minimum lease payments due to contractual conditions for finance leases were recognized in the income statement. In 2015 and 2014, leasing liabilities were not offset by any significant future minimum lease payments from subleases.
In addition, BASF is a lessee under operating lease contracts. The lease commitments totaling €1,554 million in 2015 (2014: €1,587 million) are due in the following years:
Commitments from operating lease contracts (in million €) |
|||
|
|
Nominal value of the future minimum lease payments |
|
|---|---|---|---|
|
|
Dec. 31, 2015 |
Dec. 31, 2014 |
Less than 1 year |
|
413 |
397 |
1-5 years |
|
784 |
779 |
More than 5 years |
|
357 |
411 |
Total |
|
1,554 |
1,587 |
Future minimum lease payments from subleasing contracts based on existing agreements amounted to €11 million in 2015 (2014: €11 million).
In 2015, minimum lease payments of €474 million (2014: €384 million) were included in income from operations. In 2015, conditional lease payments of €1 million were also included in income from operations (2014: €1 million). Furthermore, €4 million from sublease payments was included in income from operations in 2015 (2014: €4 million).
BASF as lessor
BASF acts as a lessor for finance leases to a minor extent only. Receivables on finance leases were €41 million in 2015 (2014: €43 million).
In 2015, claims arising from operating leases amounted to €83 million (2014: €100 million).
Future minimum lease payments to BASF from operating lease contracts (in million €) |
|||
|
|
Nominal value of the future minimum lease payments |
|
|---|---|---|---|
|
|
Dec. 31, 2015 |
Dec. 31, 2014 |
Less than 1 year |
|
17 |
20 |
1-5 years |
|
43 |
51 |
More than 5 years |
|
23 |
29 |
Total |
|
83 |
100 |