17 – Related-party transactions

The BASF Group maintains relationships with several related parties that can exert influence on the BASF Group or over which the BASF Group exercises control or joint control, or a significant influence. The following tables show the scope of the Group’s transactions with related parties.

Sales and trade accounts receivable from and trade accounts payable to related parties mainly included business with own products, merchandise, agency and licensing businesses, and other operating business.

Other receivables and liabilities primarily arose from financing activities, outstanding dividend payments, profit-and-loss transfer agreements, and other finance-related and operating activities and events.

Valuation allowances were recognized as an expense for other receivables from nonconsolidated subsidiaries in the amount of €20 million for the second quarter and €21 million in the first half of 2016. The balance of valuation allowances for other receivables from nonconsolidated subsidiaries therefore rose from €39 million as of December 31, 2015, to €60 million as of June 30, 2016. In the corresponding period of the previous year, there had been no material expenses from valuation allowances for other receivables from related parties.

There were no reportable related-party transactions with members of the Board of Executive Directors or the Supervisory Board and their related parties during the reporting period.