24 – Liabilities

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Financial indebtedness (million €)

 

 

 

 

 

Carrying amounts based on effective interest method

 

 

Currency

Nominal value (million, currency of issue)

Effective interest rate

2013

2012

BASF SE

 

 

 

 

 

 

Commercial Paper

USD

1,700

 

1,232

1,288

4.5%

Bond 2006/2016

EUR

500

4.62%

499

498

Variable

Bond 2013/2016

EUR

200

variable

200

4.25%

Bond 2009/2016

EUR

200

4.40%

199

199

5.875%

Bond 2009/2017

GBP

400

6.04%

478

487

4.625%

Bond 2009/2017

EUR

300

4.69%

299

299

Variable

Bond 2013/2018

EUR

300

variable

300

1.5%

Bond 2012/2018

EUR

1,000

1.51%

1,000

745

Variable

Bond 2013/2020

EUR

300

variable

300

1.875%

Bond 2013/2021

EUR

700

1.94%

697

2%

Bond 2012/2022

EUR

1,000

2.16%

987

986

3.675%

Bond 2013/2025

NOK

1,450

3.70%

173

3%

Bond 2013/2033

EUR

500

3.15%

489

2.875%

Bond 2013/2033

EUR

200

3.09%

198

3.25%

Bond 2013/2043

EUR

200

3.27%

199

3.89%

U.S. Private Placement Series A 2013/2025

USD

250

3.92%

181

4.09%

U.S. Private Placement Series B 2013/2028

USD

700

4.11%

506

4.43%

U.S. Private Placement Series C 2013/2034

USD

300

4.45%

217

BASF Finance Europe N.V.

 

 

 

 

 

6%

Bond 2008/2013

EUR

1,250

6.15%

1,248

5%

Bond 2007/2014

EUR

1,250

5.04%

1,250

1,250

3.625%

Bond 2008/2015

CHF

200

3.77%

163

165

5.125%

Bond 2009/2015

EUR

2,000

5.07%

2,001

2,002

4.5%

Bond 2009/2016

EUR

150

4.56%

150

150

Ciba Specialty Chemicals Finance Luxembourg S.A.

 

 

 

 

 

4.875%

Bond 2003/2018

EUR

477

4.88%

428

418

Other Bonds

 

 

 

449

659

Bonds and other liabilities to the capital markets

 

 

 

12,595

10,394

Liabilities to credit institutions

 

 

 

1,812

2,404

Financial indebtedness

 

 

 

14,407

12,798

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Breakdown of financial indebtedness by currency (million €)

 

2013

2012

Euro

10,243

9,601

U.S. dollar

2,588

1,985

British pound

478

574

Brazilian real

306

183

Chinese renminbi

272

160

Norwegian krone

173

Swiss franc

163

165

Japanese yen

46

Turkish lira

41

36

Indian rupee

11

30

Other

86

64

Total

14,407

12,798

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Maturities of financial indebtedness (million €)

 

2013

2012

Following year 1

3,256

4,094

Following year 2

3,182

1,253

Following year 3

1,051

3,193

Following year 4

779

850

Following year 5

1,746

792

Following year 6 and thereafter

4,393

2,616

Total

14,407

12,798

Bonds and other liabilities to the capital market

Other bonds consist primarily of industrial revenue and pollution control bonds of the BASF Corporation group that were used to finance investments in the United States. Both the weighted-average interest rate of these bonds as well as their weighted-average effective interest rate amounted to 1.6% in 2013 and 2.2% in 2012. The average residual term amounted to 235 months as of December 31, 2013 (December 31, 2012: 199 months).

Liabilities to credit institutions

In order to finance investments in natural gas infrastructure, €1,001 million was borrowed at an interest rate of 2.16%. The weighted-average interest rate on loans was 2.8% in 2013 compared with 3.2% in 2012.

BASF SE had committed and unused credit lines with variable interest rates amounting to €6,000 million as of December 31, 2013 and €4,705 million as of December 31, 2012.

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Other liabilities (million €)

 

2013

 

2012

 

Current

Noncurrent

 

Current

Noncurrent

Derivative instruments with negative fair values

120

193

 

186

239

Liabilities from finance leases

13

72

 

11

61

Accrued interest on bonds and other loans

183

 

164

36

Miscellaneous liabilities

903

499

 

1,202

472

Thereof liabilities to joint operations, joint ventures, associated companies and other shareholdings

332

6

 

677

6

Other liabilities which qualify as financial instruments

1,219

764

 

1,563

808

Advances received on orders

284

 

266

Liabilities related to social security

125

35

 

148

17

Employee liabilities

251

167

 

297

185

Deferred income

120

169

 

200

69

Miscellaneous liabilities

183

22

 

149

32

Other liabilities which do not qualify as financial instruments

963

393

 

1,060

303

Other liabilities

2,182

1,157

 

2,623

1,111

Other liabilities

Liabilities to joint operations, joint ventures, associated companies and other shareholdings arose mainly from financial investments of equity-accounted companies in the BASF Group. The decline in 2013 was mainly attributable to companies in the Oil & Gas segment.

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Secured liabilities (million €)

 

2013

2012

Liabilities to credit institutions

3

3

Miscellaneous liabilities

34

13

Secured liabilities

37

16

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