28 – Leases
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:
|
Leased assets (million €) |
|||||
|
|
|
December 31, 2016 |
December 31, 2015 | ||
|---|---|---|---|---|---|
|
|
|
Acquisition cost |
Net book value |
Acquisition cost |
Net book value |
|
Land, land rights and buildings |
|
46 |
26 |
45 |
25 |
|
Machinery and technical equipment |
|
136 |
43 |
117 |
31 |
|
Miscellaneous equipment and fixtures |
|
59 |
25 |
44 |
13 |
|
Total |
|
241 |
94 |
206 |
69 |
|
Liabilities from finance leases (million €) |
|||||||
|
|
|
December 31, 2016 |
December 31, 2015 | ||||
|---|---|---|---|---|---|---|---|
|
|
|
Minimum lease payments |
Interest portion |
Leasing liability |
Minimum lease payments |
Interest portion |
Leasing liability |
|
Following year 1 |
|
28 |
5 |
23 |
28 |
5 |
23 |
|
Following year 2 |
|
30 |
4 |
26 |
21 |
5 |
16 |
|
Following year 3 |
|
19 |
4 |
15 |
16 |
3 |
13 |
|
Following year 4 |
|
17 |
3 |
14 |
11 |
3 |
8 |
|
Following year 5 |
|
12 |
3 |
9 |
10 |
3 |
7 |
|
More than 5 years |
|
35 |
14 |
21 |
31 |
13 |
18 |
|
Total |
|
141 |
33 |
108 |
117 |
32 |
85 |
In the current business year and in the previous year, no additional lease payments exceeding minimum lease payments due to contractual conditions for finance leases were recognized in the income statement. In 2016 and in the previous year, 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 €1,513 million in 2016 (2015: €1,554 million) are due in the following years:
|
Commitments from operating lease contracts (million €) |
|||
|
|
|
Nominal value of the future minimum lease payments | |
|---|---|---|---|
|
|
|
Dec. 31, 2016 |
Dec. 31, 2015 |
|
Less than 1 year |
|
360 |
413 |
|
1-5 years |
|
757 |
784 |
|
More than 5 years |
|
396 |
357 |
|
Total |
|
1,513 |
1,554 |
Future minimum lease payments from subleasing contracts based on existing agreements amounted to €12 million in 2016 (2015: €11 million).
In 2016, minimum lease payments of €446 million (2015: €474 million) were included in income from operations. In 2016, conditional lease payments of €1 million (2015: €1 million) were also included in income from operations. Furthermore, sublease payments of €4 million were included in income from operations in 2016 (2015: €4 million).
BASF as lessor
BASF acts as a lessor for finance leases to a minor extent only. Receivables on finance leases were €33 million in 2016 (2015: €41 million).
In 2016, claims arising from operating leases amounted to €89 million (2015: €83 million).
|
Future minimum lease payments to BASF from operating lease contracts (million €) |
|||
|
|
|
Nominal value of the future minimum lease payments | |
|---|---|---|---|
|
|
|
Dec. 31, 2016 |
Dec. 31, 2015 |
|
Less than 1 year |
|
17 |
17 |
|
1-5 years |
|
49 |
43 |
|
More than 5 years |
|
23 |
23 |
|
Total |
|
89 |
83 |