28 – 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:

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Leased assets (million €)

 

2013

 

2012

 

Acquisition cost

Net book value

 

Acquisition cost

Net book value

Land, land rights and buildings

42

25

 

44

25

Machinery and technical equipment

103

38

 

102

39

Miscellaneous equipment and fixtures

39

12

 

37

12

Total

184

75

 

183

76

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Liabilities from finance leases (million €)

 

2013

 

2012

 

Minimum lease payments

Interest
portion

Leasing
liability

 

Minimum lease payments

Interest
portion

Leasing
liability

Following year 1

27

7

20

 

24

5

19

Following year 2

21

6

15

 

22

5

17

Following year 3

19

4

15

 

16

4

12

Following year 4

13

3

10

 

13

2

11

Following year 5

10

3

7

 

8

2

6

More than 5 years

45

17

28

 

37

16

21

Total

135

40

95

 

120

34

86

In 2013 and 2012, no conditional lease payments for finance leases were recognized in expenses.

In 2013 and 2012, leasing liabilities were not offset by any significant future minimum lease payments from subleases.

In addition, BASF is a lessee under operating lease contracts. The lease commitments totaling €1,397 million in 2013 (2012: €1,239 million) are due in the following years:

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Commitments from operating lease contracts (million €)

 

Nominal value of the future minimum lease payments

 

December 31, 2013

December 31, 2012

Less than 1 year

326

315

1–5 years

737

645

More than 5 years

334

279

Total

1,397

1,239

Future minimum sublease payments amounting to €6 million in 2013 (2012: €8 million) are expected to be received.

In 2013, minimum lease payments of €363 million (2012: €327 million) and conditional lease payments of €1 million (2012: €2 million) were included in income from operations. Furthermore, €3 million in sublease payments was included in income from operations in both 2013 and 2012.

BASF as lessor

BASF acts as a lessor for finance leases to a minor extent only. Receivables from finance leases totalled €21 million in both 2013 and 2012.

In 2013, minimum lease payments arising from operating leases had a nominal value of €17 million (2012: €13 million) within one year, €48 million (2012: €43 million) for more than one year and up to five years, and €22 million (2012: €27 million) for more than 5 years.