9 – Income from companies accounted for using the equity method

Million €

 

2015

2014

Proportional net income

 

275

283

Thereof joint ventures

 

25

87

associated companies

 

250

196

Other adjustments of income and expense

 

(24)

(10)

Thereof joint ventures

 

(35)

(19)

associated companies

 

11

9

Income from companies accounted for using the equity method

 

251

273

The Oil & Gas segment contributed €106 million to income from companies accounted for using the equity method. Especially contributing to this total were OAO Severneftegazprom, Krasnoselkup, Russia; Nord Stream AG, Zug, Switzerland; and GASCADE Gastransport GmbH, Kassel, Germany. Further significant earnings contributions were made by shareholdings in BASF-YPC Company Ltd., Nanjing, China; Lucura Versicherungs AG, Ludwigshafen am Rhein, Germany; and BASF SONATRACH Propanchem S.A., Tarragona, Spain.

The decline in income from companies accounted for using the equity method was predominantly the result of an impairment at Wintershall Noordzee B.V., Rijswijk, Netherlands. The reduction was partly alleviated by higher earnings contributions from other shareholdings, particularly OAO Severneftegazprom, Krasnoselkup, Russia, and BASF-YPC Company Ltd., Nanjing, China.