✓ audited

15 – Investments accounted for using the equity method and other financial assets

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Investments accounted for using the equity method (million €)

 

2012

2011

Balance as of January 1

1,852

1,328

Changes in scope of consolidation

(138)

Additions

33

774

Disposals

Transfers

143

(86)

Exchange differences

17

(26)

Balance as of December 31

2,045

1,852

Accumulated valuation adjustments

Net carrying amount as of December 31

2,045

1,852

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Other financial assets (million €)

 

2012

2011

Investments in other affiliated companies

306

308

Investments in other associated companies

132

82

Shares in other participations

152

164

Participations

590

554

Loans to affiliated companies

37

80

Loans to associated companies

107

72

Other loans

111

102

Loans

255

254

Long-term securities

35

40

 

880

848

In 2012, additions to investments accounted for using the equity method resulted from a capital increase at Lucura Versicherungs AG as well as from the acquisition of Novolyte Technologies LP.

The establishment of Styrolution resulted in additions of €734 million in 2011.

BASF has a stake of 15.5% and continues to exercise significant influence over Nord Stream AG, as BASF’s approval is required for relevant board resolutions.

The changes in the scope of consolidation in 2011 resulted from the acquisition of additional shares in the Heesung Catalysts Corporation, which has subsequently been proportionally consolidated.

In 2012, impairments on participations of €5 million were recognized.