25 – Other financial obligations

The figures listed below are stated at nominal value:

Million €

 

December 31,
2017

December 31,
2016

Bills of exchange

 

9

9

Guarantees

 

11

12

Warranties

 

49

43

Collateral granted on behalf of third-party liabilities

 

1

1

Initiated investment projects

 

4,109

5,394

Thereof purchase commitments

 

1,045

1,391

for the purchase of intangible assets

 

16

7

Payment and loan commitments and other financial obligations

 

19

25

BASF provides unlimited guarantees, particularly to the Danish government as well as the state-owned company Nordsøfonden, as a precondition for the exploration for and production of hydrocarbons in the Danish concession area by the joint venture Wintershall Noordzee B.V., Rijswijk, Netherlands. Partially countering the possible 100% liability of BASF arising from these guarantees are the 50% guarantees of the joint-venture partner in favor of BASF. Drawing on these guarantees was not foreseeable as of December 31, 2017.

Assets used under long-term leases

Assets used under long-term leases primarily concerned buildings and IT infrastructure.

Obligations arising from long-term leases (excluding finance leases) (million €)

2018

 

362

2019

 

273

2020

 

207

2021

 

137

2022

 

111

2023 and maturities beyond this year

 

320

Total

 

1,410

Obligations arising from purchase contracts

Obligations arising from purchase contracts resulted primarily from long-term purchase obligations for raw materials. Firm purchase obligations as of December 31, 2017, were as follows:

Obligations arising from purchase contracts (million €)

2018

 

7,306

2019

 

4,776

2020

 

2,688

2021

 

2,374

2022

 

2,362

2023 and maturities beyond this year

 

7,112

Total

 

26,618

Further possible obligations arising from agreements existing as of December 31, 2017 are shown in 2.4: Acquisitions and divestitures.