Net assets
Assets |
|||||
|
|
December 31, 2015 |
December 31, 2014 |
||
|---|---|---|---|---|---|
|
|
million € |
% |
million € |
% |
Intangible assets |
|
12,537 |
17.7 |
12,967 |
18.2 |
Property, plant and equipment |
|
25,260 |
35.7 |
23,496 |
32.9 |
Investments accounted for using the equity method |
|
4,436 |
6.3 |
3,245 |
4.5 |
Other financial assets |
|
526 |
0.7 |
540 |
0.8 |
Deferred taxes |
|
1,791 |
2.5 |
2,193 |
3.1 |
Other receivables and miscellaneous assets |
|
1,720 |
2.4 |
1,498 |
2.1 |
Noncurrent assets |
|
46,270 |
65.3 |
43,939 |
61.6 |
|
|
|
|
|
|
Inventories |
|
9,693 |
13.7 |
11,266 |
15.8 |
Accounts receivable, trade |
|
9,516 |
13.4 |
10,385 |
14.6 |
Other receivables and miscellaneous assets |
|
3,095 |
4.4 |
4,032 |
5.6 |
Marketable securities |
|
21 |
. |
19 |
. |
Cash and cash equivalents |
|
2,241 |
3.2 |
1,718 |
2.4 |
Current assets |
|
24,566 |
34.7 |
27,420 |
38.4 |
Total assets |
|
70,836 |
100.0 |
71,359 |
100.0 |
Assets
- Total assets slightly below prior-year level
- Noncurrent assets rise, mostly through investments
- Current assets decline, mainly due to asset swap with Gazprom
Amounting to €70,836 million, the level of total assets was €523 million below that of the previous year.
Noncurrent assets grew by €2,331 million to €46,270 million. The €430 million decline in intangible assets resulted especially from amortization and impairments as well as from the asset swap with Gazprom. Currency effects particularly contrasted this development.
The value of property, plant and equipment grew by €1,764 million to €25,260 million. At €5,742 million, additions considerably exceeded depreciation of €3,600 million. Investments amounted to €5,651 million in 2015 and primarily concerned the construction of an integrated TDI complex in Ludwigshafen, Germany; an aroma ingredients plant in Kuantan, Malaysia; an acrylic acid and superabsorbent production complex in Camaçari, Brazil; and field development projects in Argentina, Norway and Russia. Currency effects additionally increased the value of property, plant and equipment. Disposals were mainly attributable to the asset swap with Gazprom.
Investments accounted for using the equity method increased by €1,191 million to €4,436 million. This rise was primarily attributable to the asset swap with Gazprom, where BASF acquired shares in blocks IV and V of the Achimov formation of the Urengoy natural gas and condensate field in western Siberia, and through which Wintershall Noordzee B.V. was reclassified to an investment accounted for using the equity method.
The value of other financial assets fell by €14 million to €526 million in 2015, while deferred tax assets declined from €2,193 million to €1,791 million.
Other noncurrent receivables and miscellaneous assets were up by €222 million to €1,720 million year-on-year. This was mainly due to the increase in the positive fair value of derivatives.
The value of current assets declined by €2,854 million to €24,566 million. In addition to the asset swap with Gazprom, this was largely attributable to the reduction of inventories as well as other receivables and miscellaneous assets.
At €2,241 million, cash and cash equivalents were €523 million above the level of December 31, 2014.