25 – Other Financial Obligations

The figures listed below are stated at nominal value:

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, which is allocated to the disposal group. BASF’s 100% contingent liability under these guarantees is partially countered by the joint venture partner’s 50% guarantees in favor of BASF. Drawing on these guarantees was not foreseeable as of December 31, 2018.

Assets used under long-term leases

Assets used under long-term leases primarily concerned buildings, vehicles and transportation equipment.

As of December 31, 2018, the companies allocated to the disposal group accounted for €144 million.

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, 2018, were as follows:

As of December 31, 2018, the companies allocated to the disposal group accounted for €5,406 million.

Further possible obligations arising from agreements existing as of December 31, 2018 are shown under Note 2.4, Acquisitions and divestitures.