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

27 – Leasing

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:

  Download (Download XLS xls, 16 kB)

Leased assets (million €)

 

 

 

 

2010

 

2009

 

Acquisition cost

Net book value

 

Acquisition cost

Net book value

Land, land rights and buildings

46

29

 

24

12

Machinery and technical equipment

275

79

 

235

78

Miscellaneous equipment and fixtures

69

13

 

67

13

 

390

121

 

326

103

  Download (Download XLS xls, 17 kB)

Liabilities from finance leases (million €)

 

 

2010

 

2009

 

Minimum lease payments

Interest portion

Leasing liability

 

Minimum lease payments

Interest portion

Leasing liability

Following year 1

35

8

27

 

23

5

17

Following year 2

25

6

19

 

27

4

21

Following year 3

15

3

12

 

16

5

14

Following year 4

12

4

8

 

7

2

6

Following year 5

10

2

8

 

6

2

3

Over 5 years

27

5

22

 

27

9

19

 

124

28

96

 

106

27

80

In the current business year and in 2009, no additional lease payments arising from contractual obligations for finance leases were recognized in income above the minimum lease payments for finance leases.

In 2010, leasing liabilities were not offset by any expected minimum lease payments from sub-leases.

In addition, BASF is a lessee under operating lease contracts. The resulting lease obligations totaling €1,679 million in 2010, and €1,357 million in 2009, are due in the following years:

  Download (Download XLS xls, 16 kB)

Commitments due to operating lease contracts (million €)

 

Nominal value of the future minimum payments

 

December 31, 2010

December 31, 2009

Less than 1 year

521

376

1–5 years

807

632

Over 5 years

351

349

 

1,679

1,357

In 2010, commitments due to operating lease contracts of less than one year included leases of precious metals of €203 million (2009: €133 million). These metals were immediately leased to third parties. Offsetting the other leasing commitments were expected minimum lease payments from sub-leases of €16 million in 2010 (2009: €13 million).

Minimum lease payments of €311 million (2009: €279 million), conditional lease payments of €1 million (2009: €2 million), and payments received from subleases of €4 million (2009: €4 million), were included in income from operations in 2010.

BASF as lessor

BASF acts as both a lessee and a lessor under finance leases. BASF acts as a lessor for finance leases in a minor capacity only. Receivables on finance leases were €18 million in 2010 and €17 million in 2009.

In 2010, nominal minimum payments arising from operating leases amounted to €222 million within one year, and €72 million for more than one year. For 2009, these figures amounted to €143 million within one year, and €40 million for more than one year.

In 2010, precious metal accounts of €706 million (2009: €578 million), were held for customers where the metals are stored physically at BASF.

previous page top of page next page