28 – Leases

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 (million €)

 

 

December 31, 2016

December 31, 2015

 

 

Acquisition cost

Net book value

Acquisition cost

Net book value

Land, land rights and buildings

 

46

26

45

25

Machinery and technical equipment

 

136

43

117

31

Miscellaneous equipment and fixtures

 

59

25

44

13

Total

 

241

94

206

69

Liabilities from finance leases (million €)

 

 

December 31, 2016

December 31, 2015

 

 

Minimum lease payments

Interest portion

Leasing liability

Minimum lease payments

Interest portion

Leasing liability

Following year 1

 

28

5

23

28

5

23

Following year 2

 

30

4

26

21

5

16

Following year 3

 

19

4

15

16

3

13

Following year 4

 

17

3

14

11

3

8

Following year 5

 

12

3

9

10

3

7

More than 5 years

 

35

14

21

31

13

18

Total

 

141

33

108

117

32

85

In the current business year and in the previous year, no additional lease payments exceeding minimum lease payments due to contractual conditions for finance leases were recognized in the income statement. In 2016 and in the previous year, 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 €1,513 million in 2016 (2015: €1,554 million) are due in the following years:

Commitments from operating lease contracts (million €)

 

 

Nominal value of the future minimum lease payments

 

 

Dec. 31, 2016

Dec. 31, 2015

Less than 1 year

 

360

413

1-5 years

 

757

784

More than 5 years

 

396

357

Total

 

1,513

1,554

Future minimum lease payments from subleasing contracts based on existing agreements amounted to €12 million in 2016 (2015: €11 million).

In 2016, minimum lease payments of €446 million (2015: €474 million) were included in income from operations. In 2016, conditional lease payments of €1 million (2015: €1 million) were also included in income from operations. Furthermore, sublease payments of €4 million were included in income from operations in 2016 (2015: €4 million).

BASF as lessor

BASF acts as a lessor for finance leases to a minor extent only. Receivables on finance leases were €33 million in 2016 (2015: €41 million).

In 2016, claims arising from operating leases amounted to €89 million (2015: €83 million).

Future minimum lease payments to BASF from operating lease contracts (million €)

 

 

Nominal value of the future minimum lease payments

 

 

Dec. 31, 2016

Dec. 31, 2015

Less than 1 year

 

17

17

1-5 years

 

49

43

More than 5 years

 

23

23

Total

 

89

83