24 – Liabilities (XLS:) XLS Financial indebtedness (Million €) Carrying amounts based on effective interest method Currency Nominal value (million, currency of issue) Effective interest rate December 31, 2019 December 31, 2018 BASF SE Commercial Paper USD 968 861 2,549 1.375% Bond 2014/2019 EUR 750 1.44% – 750 variable Bond 2017/2019 EUR 1,250 variable – 1,252 variable Bond 2013/2020 EUR 300 variable 300 300 1.875% Bond 2013/2021 EUR 1,000 1.47% 1,004 1,008 2.5% Bond 2017/2022 USD 500 2.65% 444 435 1.375% Bond 2018/2022 GBP 250 1.52% 293 278 2% Bond 2012/2022 EUR 1,250 1.93% 1,253 1,254 0.925% Bond 2017/2023 USD 850 0.83% 726 703 0.875% Bond 2016/2023 GBP 250 1.06% 292 277 2.5% Bond 2014/2024 EUR 500 2.60% 498 498 1.750% Bond 2017/2025 GBP 300 1.87% 350 333 0.875% Bond 2018/2025 EUR 750 0.97% 746 745 3.675% Bond 2013/2025 NOK 1,450 3.70% 147 146 0.875% Bond 2017/2027 EUR 1,000 1.04% 987 986 2.670% Bond 2017/2029 NOK 1,600 2.69% 162 161 0.875% Bond 2019/2029 EUR 250 1.01% 247 – 1.5% Bond 2018/2030 EUR 500 1.625% 494 494 1.5% Bond 2016/2031 EUR 200 1.58% 198 198 0.875% Bond 2016/2031 EUR 500 1.01% 493 492 2.37% Bond 2016/2031 HKD 1,300 2.37% 149 145 1.450% Bond 2017/2032 EUR 300 1.57% 296 296 3% Bond 2013/2033 EUR 500 3.15% 492 492 2.875% Bond 2013/2033 EUR 200 2.96% 198 198 4% Bond 2018/2033 AUD 160 4.24% 98 96 1.625% Bond 2017/2037 EUR 750 1.73% 738 737 3.25% Bond 2013/2043 EUR 200 3.27% 199 199 1.025% Bond 2018/2048 JPY 10,000 1.03% 82 79 3.89% U.S. private placement series A 2013/2025 USD 250 3.92% 222 218 4.09% U.S. private placement series B 2013/2028 USD 700 4.11% 622 610 4.43% U.S. private placement series C 2013/2034 USD 300 4.45% 266 261 BASF Finance Europe N.V. 0.0% Bond 2016/2020 EUR 1,000 0.14% 999 997 3.625% Bond 2018/2025 USD 200 3.69% 177 174 0.75% Bond 2016/2026 EUR 500 0.88% 496 495 Other bonds 608 588 Bonds and other liabilities to the capital market 15,137 18,444 Liabilities to credit institutions 3,240 2,397 Financial indebtedness 18,377 20,841 (XLS:) XLS Breakdown of financial indebtedness by currency (Million €) December 31, 2019 December 31, 2018 Euro 11,283 12,358 U.S. dollar 4,558 6,160 Pound sterling 935 888 Norwegian krone 309 306 Chinese renminbi 253 163 Hong Kong dollar 149 145 Japanese yen 138 139 Turkish lira 123 127 Australian dollar 98 99 Brazilian real 88 54 Ukrainian hryvnia 83 89 Argentinian peso 75 44 Indian rupee 69 48 South African rand 65 74 Kazakhstani tenge 53 42 Indonesian rupiah 46 43 Other currencies 52 62 Total 18,377 20,841 (XLS:) XLS Maturities of financial indebtedness (Million €) December 31, 2019 December 31, 2018 Following year 1 3,362 5,509 Following year 2 1,078 1,335 Following year 3 2,157 1,178 Following year 4 1,223 2,105 Following year 5 1,310 1,155 Following year 6 and maturities beyond this year 9,247 9,559 Total 18,377 20,841 Other bonds Other bonds consist primarily of industrial revenue and pollution control bonds issued by the BASF Corporation group that were used to finance investments in the United States. Both the weighted average interest rate of these bonds and their weighted effective interest rate amounted to 2.9% in 2019 and 3.0% in 2018. The average weighted residual term amounted to 158 months as of December 31, 2019 (December 31, 2018: 168 months). Liabilities to credit institutions Liabilities to credit institutions rose from €2,397 million as of December 31, 2018 to €3,240 million as of December 31, 2019. The weighted average interest rate on loans amounted to 3.8% in 2019 compared with 5.6% in 2018. 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, 2019 and as of December 31, 2018. In addition, BASF SE had an unused credit line of €380 million (2018: €400 million) for the financing of specific research and development activities as of December 31, 2019. (XLS:) XLS Other liabilities (Million €) December 31, 2019 December 31, 2018 Noncurrent Current Noncurrent Current Derivatives with negative fair values 188 493 230 308 Liabilities from leases 1,039 381 91 43 Loan and interest liabilities 50 534 75 387 Advances received on orders – 537 – 903 Miscellaneous liabilities 39 398 41 565 Other liabilities that qualify as financial instruments 1,316 2,343 437 2,206 Liabilities related to social security 63 84 58 85 Employee liabilities 25 244 28 262 Liabilities from precious metal trading positions – 462 – 34 Contract liabilities 259 53 155 31 Deferred income 13 33 23 35 Miscellaneous liabilities 2 208 4 345 Other liabilities that do not qualify as financial instruments 362 1,084 268 792 Other liabilities 1,678 3,427 705 2,998 Other liabilities The increase in liabilities from leases was mainly attributable to the initial application of IFRS 16. Liabilities from precious metal trading positions rose due to higher market prices for precious metals. Contract liabilities include mainly customer payments entitling them to access to licenses over an agreed period of time. The majority of existing contracts have terms of up to seven years. Of the contract liabilities reported as of December 31, 2019, €53 million are expected to be recognized as revenue in 2020. For more information on financial risks and derivative instruments, see Note 27For more information on liabilities arising from leases, see Note 28 (XLS:) XLS Secured liabilities (Million €) December 31, 2019 December 31, 2018 Liabilities to credit institutions 15 18 Accounts payable, trade 5 6 Other liabilities 116 166 Secured liabilities 136 190 Liabilities to credit institutions were secured primarily with registered land charges. Other liabilities include collateral for derivative instruments with negative fair values. As in the previous year, there were no secured contingent liabilities in 2019. back next