25 – Other financial obligations The figures listed below are stated at nominal value: (XLS:) Download Million € December 31,2017 December 31,2016 Bills of exchange 9 9 Guarantees 11 12 Warranties 49 43 Collateral granted on behalf of third-party liabilities 1 1 Initiated investment projects 4,109 5,394 Thereof purchase commitments 1,045 1,391 for the purchase of intangible assets 16 7 Payment and loan commitments and other financial obligations 19 25 BASF provides unlimited guarantees, particularly to the Danish government as well as the state-owned company Nordsøfonden, as a precondition for the exploration for and production of hydrocarbons in the Danish concession area by the joint venture Wintershall Noordzee B.V., Rijswijk, Netherlands. Partially countering the possible 100% liability of BASF arising from these guarantees are the 50% guarantees of the joint-venture partner in favor of BASF. Drawing on these guarantees was not foreseeable as of December 31, 2017. Assets used under long-term leases Assets used under long-term leases primarily concerned buildings and IT infrastructure. For more information on liabilities arising from leasing contracts, see Note 28 (XLS:) Download Obligations arising from long-term leases (excluding finance leases) (million €) 2018 362 2019 273 2020 207 2021 137 2022 111 2023 and maturities beyond this year 320 Total 1,410 Obligations arising from purchase contracts Obligations arising from purchase contracts resulted primarily from long-term purchase obligations for raw materials. Firm purchase obligations as of December 31, 2017, were as follows: (XLS:) Download Obligations arising from purchase contracts (million €) 2018 7,306 2019 4,776 2020 2,688 2021 2,374 2022 2,362 2023 and maturities beyond this year 7,112 Total 26,618 Further possible obligations arising from agreements existing as of December 31, 2017 are shown in 2.4: Acquisitions and divestitures. back next
