24 – Liabilities (XLS:) Download Financial indebtedness (million €) Carrying amounts based on effective interest method Currency Nominal value (million, currency of issue) Effective interest rate December 31,2017 December 31,2016 BASF SE Commercial paper USD – 1,033 variable Bond 2014/2017 EUR 300 variable – 300 5.875% Bond 2009/2017 GBP 400 6.04% – 467 4.625% Bond 2009/2017 EUR 300 4.69% – 300 1.375% Bond 2014/2017 GBP 250 1.46% – 292 variable Bond 2013/2018 EUR 300 variable 300 300 1.5% Bond 2012/2018 EUR 1,000 1.51% 999 999 1.375% Bond 2014/2019 EUR 750 1.44% 750 749 variable Bond 2017/2019 EUR 1,250 variable 1,261 – variable Bond 2013/2020 EUR 300 variable 300 300 1.875% Bond 2013/2021 EUR 1,000 1.47% 1,007 1,016 2.5% Bond 2017/2022 USD 500 2.65% 414 – 2% Bond 2012/2022 EUR 1,250 1.93% 1,254 1,255 0.925% Bond 2017/2023 USD 850 0.83% 664 – 0.875% Bond 2016/2023 GBP 250 1.06% 279 289 2.5% Bond 2014/2024 EUR 500 2.60% 497 497 1.750% Bond 2017/2025 GBP 300 1.87% 335 – 3.675% Bond 2013/2025 NOK 1,450 3.70% 147 159 0.875% Bond 2017/2027 EUR 1,000 1.04% 984 – 2.670% Bond 2017/2029 NOK 1,600 2.69% 162 – 1.5% Bond 2016/2031 EUR 200 1.58% 198 198 0.875% Bond 2016/2031 EUR 500 1.01% 492 491 2.37% Bond 2016/2031 HKD 1,300 2.37% 139 159 1,450% Bond 2017/2032 EUR 300 1.57% 296 – 3% Bond 2013/2033 EUR 500 3.15% 491 491 2.875% Bond 2013/2033 EUR 200 3.09% 198 198 1.625% Bond 2017/2037 EUR 750 1.73% 736 – 3.25% Bond 2013/2043 EUR 200 3.27% 199 199 3.89% U.S. Private Placement Series A 2013/2025 USD 250 3.92% 208 237 4.09% U.S. Private Placement Series B 2013/2028 USD 700 4.11% 582 663 4.43% U.S. Private Placement Series C 2013/2034 USD 300 4.45% 250 284 BASF Finance Europe N.V. 0.0% Bond 2016/2020 EUR 1,000 0.14% 996 995 0.75% Bond 2016/2026 EUR 500 0.88% 494 494 Ciba Specialty Chemicals Finance Luxembourg S.A. 4.875% Bond 2003/2018 EUR 477 4.88% 474 461 Other bonds 547 631 Bonds and other liabilities to the capital market 15,653 13,457 Liabilities to credit institutions 2,379 2,855 Financial indebtedness 18,032 16,312 (XLS:) Download Breakdown of financial indebtedness by currency (million €) December 31,2017 December 31,2016 Euro 13,326 10,897 U.S. dollar 2,922 3,346 British pound 614 1,048 Norwegian krone 309 159 Hong Kong dollar 139 159 Argentinian peso 137 194 Chinese renminbi 127 118 South African rand 73 28 Turkish lira 65 59 Ukrainian hryvnia 63 55 Japanese yen 58 – Brazilian real 53 113 Indonesian rupiah 43 29 Other currencies 103 107 Total 18,032 16,312 (XLS:) Download Maturities of financial indebtedness (million €) December 31,2017 December 31,2016 Following year 1 2,497 3,767 Following year 2 2,052 1,887 Following year 3 1,845 2,115 Following year 4 1,140 1,304 Following year 5 1,781 1,049 Following year 6 and maturities beyond this year 8,717 6,190 Total 18,032 16,312 Other bonds 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 3.1% in 2017 and 2.1% in 2016. The average residual term amounted to 183 months as of December 31, 2017 (December 31, 2016: 195 months). Liabilities to credit institutions In order to finance the natural gas transportation business, a €1,650 million loan was incurred with a 5-year term at an interest rate of 1.08% in 2014. In 2017, €925 million of this amount was transferred to the newly established company W & G Infrastruktur Finanzierungs-GmbH, Kassel, Germany, accounted for using the equity method, to finance the natural gas transportation companies, GASCADE Gastranport GmbH, Kassel, Germany, and NEL Gastransport GmbH, Kassel, Germany, which are also accounted for using the equity method. The weighted average interest rate on loans amounted to 4.1% in 2017 compared with 4.5% in 2016. Unused credit lines BASF SE had committed and unused credit lines with variable interest rates amounting to €6,000 million both as of December 31, 2017 and as of December 31, 2016. (XLS:) Download Other liabilities (million €) December 31, 2017 December 31, 2016 Noncurrent Current Noncurrent Current Derivatives with negative fair values 290 274 78 571 Liabilities from finance leases 99 25 84 22 Loan and interest liabilities 283 212 280 199 Miscellaneous liabilities 94 1,289 97 791 Other liabilities which qualify as financial instruments 766 1,800 539 1,583 Advances received on orders – 564 – 556 Liabilities related to social security 67 77 95 68 Employee liabilities 28 253 45 310 Liabilities from precious metal trading positions – 17 – 13 Deferred income 197 78 171 66 Miscellaneous liabilities 37 275 23 254 Other liabilities which do not qualify as financial instruments 329 1,264 334 1,267 Other liabilities 1,095 3,064 873 2,850 Other liabilities The increase in current other liabilities was primarily due to cash deposits from group companies accounted for using the equity method, which are reported under miscellaneous liabilities. Current derivatives with negative fair values decreased due to negative fair market values arising from foreign currency hedging. By contrast, the noncurrent negative fair values increased. This related primarily to higher negative fair values from hedging using combined interest and cross-currency swaps involving USD, GBP and HKD bonds. For more information on financial risks and derivative instruments, see Note 27For more information on liabilities arising from leasing contracts, see Note 28 (XLS:) Download Secured liabilities (million €) Dec. 31, 2017 Dec. 31, 2016 Liabilities to credit institutions 22 24 Accounts payable, trade 6 6 Other liabilities 169 63 Secured liabilities 197 93 Liabilities to credit institutions were secured primarily with registered land charges. The increase in secured other liabilities compared with December 31, 2016, is primarily attributable to higher collateral for derivative instruments with negative fair values. As in the previous year, there were no secured contingent liabilities in 2017. back next
