General
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Last Update:
Mar. 10, 2011
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Part of the audited Consolidated Financial Statements and Management´s Analysis

22 – Liabilities

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Financial indebtedness (million €)

 

 

 

 

 

 

Carrying amounts based on effective interest method

 

Nominal volume (million currency of issuance)

Effective interest rate

2010

2009

3.5% Euro Bond 2003/2010 of BASF SE

1,000

3.63%

999

4% Euro Bond 2006/2011 of BASF SE

1,000

4.05%

1,000

999

3.375% Euro Bond 2005/2012 of BASF SE

1,400

3.42%

1,399

1,399

3.75% Euro Bond 2009/2012 of BASF SE

1,350

3.97%

1,345

1,343

4.5% Euro Bond 2006/2016 of BASF SE

500

4.62%

497

497

4.25% Euro Bond 2009/2016 of BASF SE

200

4.40%

199

198

5.875% GBP Bond 2009/2017 of BASF SE

400

6.04%

461

446

4.625% Euro Bond 2009/2017 of BASF SE

300

4.69%

299

299

3.25% CHF Bond 2008/2011 of BASF Finance Europe N.V.

300

3.39%

240

202

6% Euro Bond 2008/2013 of BASF Finance Europe N.V.

1,250

6.15%

1,245

1,244

5% Euro Bond 2007/2014 of BASF Finance Europe N.V.

1,000

5.09%

997

996

5% Euro Bond 2007/2014 of BASF Finance Europe N.V.

250

4.83%

251

252

3.625% CHF Bond 2008/2015 of BASF Finance Europe N.V.

200

3.77%

159

134

5.125% Euro Bond 2009/2015 of BASF Finance Europe N.V.

1,500

5.30%

1,489

1,488

5.125% Euro Bond 2009/2015 of BASF Finance Europe N.V.

500

4.38%

515

517

4.5% Euro Medium Term Note 2009/2016 of BASF Finance Europe N.V.

150

4.56%

150

149

USD Extendible Floating Rate Notes of BASF Finance Europe N.V.

 

0.33%

3

3.25% CHF Bond 2006/2012 of Ciba Spezialitätenchemie Finanz AG

225

3.32%

177

147

4.875% Euro Bond 2003/2018 of Ciba Spec. Chem. Finance Luxemb. S.A.

477

4.88%

401

393

USD commercial paper

1,850

 

1,384

487

Other bonds

 

 

696

650

Bonds and other liabilities to the capital markets

 

 

12,904

12,842

Liabilities to credit institutions

 

 

2,135

1,977

 

 

 

15,039

14,819

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Breakdown of financial indebtedness by currency (million €)

 

 

2010

2009

Euro

10,980

12,063

U.S. dollar

2,177

1,254

Swiss franc

576

483

British pound

543

560

Chinese renminbi

391

336

Brazilian real

205

Argentinean peso

30

41

South African rand

28

Japanese yen

25

15

Other

84

67

 

15,039

14,819

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Maturities of financial indebtedness (million €)

 

 

2010

2009

Following year 1

3,369

2,375

Following year 2

3,112

1,363

Following year 3

2,100

3,067

Following year 4

1,321

2,075

Following year 5

2,539

1,329

Following year 6 and thereafter

2,598

4,610

 

15,039

14,819

Bonds and other liabilities to the capital markets

Other bonds consist primarily of industrial revenue and pollution control bonds of the BASF Corporation group that are used to finance investments in the United States. The weighted-average interest rate was 2.2% in 2010 (2009: 2.3%). The weighted-average effective interest rate was 2.2% in 2010 (2009: 2.3%). The average residual term amounted to 222 months as of December 31, 2010, and 234 months as of December 31, 2009.

Liabilities to credit institutions

The weighted-average interest rate on borrowings was 3.6% in 2010 (2009: 3.0%). To finance the investment in the expansion of the OPAL natural gas pipeline, €342 million was borrowed at an interest rate of 3.1% by WINGAS GmbH & Co. KG.

BASF SE had committed and unused credit lines with variable interest rates of €4,490 million as of December 31, 2010, and €4,165 million as of December 31, 2009.

Other liabilities

The increase in other liabilities in 2010 related, among other things, to the negative fair value of derivatives concluded to hedge against currency fluctuations and rising raw material prices.

Liabilities to companies in which participations are held include the proportionate amount of liabilities to joint venture companies accounted for using the proportional consolidation method of €195 million in 2010, and €313 million in 2009, thereof miscellaneous liabilities of €57 million in 2010, and €145 million in 2009. Further miscellaneous liabilities relating to participations accounted for using the equity or cost method were €261 million in 2010, and €188 million in 2009. In addition, miscellaneous liabilities contained precious metal derivatives with a negative fair value of €74 million as of the balance sheet date 2010 compared with €52 million in 2009.
For more information on financial risks and derivative financial instruments, see Note 26
For more information on finance lease payables, see Note 27

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Other liabilities (million €)

 

 

 

2010

 

2009

 

Short-term

Long-term

 

Short-term

Long-term

Advances received on orders

283

 

116

Liabilities on bills

73

2

 

52

23

Liabilities related to social security

166

26

 

156

30

Non-trade liabilities to joint venture partners

314

433

 

271

437

Derivative instruments

369

7

 

279

Liabilities arising from finance leases

10

49

 

18

62

Employee liabilities

328

94

 

211

40

Accrued interest on bonds and other loans

247

 

237

Miscellaneous liabilities

858

87

 

785

124

Deferred income

154

203

 

115

182

 

2,802

901

 

2,240

898

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Secured liabilities (million €)

 

 

2010

2009

Liabilities to credit institutions

14

8

Miscellaneous liabilities

26

37

 

40

45

Liabilities to credit institutions are secured primarily with registered land charges. There are no secured contingent liabilities.

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