Net Assets
|
December 31, 2021 |
December 31, 2020 |
||
|---|---|---|---|---|
|
Million € |
% |
Million € |
% |
Intangible assets |
13,499 |
15.4 |
13,145 |
16.4 |
Property, plant and equipment |
21,553 |
24.7 |
19,647 |
24.5 |
Integral investments accounted for using the equity method |
2,540 |
2.9 |
1,878 |
2.3 |
Non-integral investments accounted for using the equity method |
9,843 |
11.3 |
10,874 |
13.5 |
Other financial assets |
575 |
0.7 |
582 |
0.7 |
Deferred tax assets |
2,600 |
3.0 |
3,386 |
4.2 |
Other receivables and miscellaneous assets |
1,722 |
2.0 |
912 |
1.1 |
Noncurrent assets |
52,332 |
59.9 |
50,424 |
62.7 |
|
|
|
|
|
Inventories |
13,868 |
15.9 |
10,010 |
12.5 |
Accounts receivable, trade |
11,942 |
13.7 |
9,466 |
11.8 |
Other receivables and miscellaneous assets |
5,568 |
6.4 |
4,673 |
5.8 |
Marketable securities |
208 |
0.2 |
207 |
0.3 |
Cash and cash equivalents |
2,624 |
3.0 |
4,330 |
5.4 |
Assets of disposal groups |
840 |
1.0 |
1,182 |
1.5 |
Current assets |
35,051 |
40.2 |
29,868 |
37.3 |
Total assets |
87,383 |
100.0 |
80,292 |
100.0 |
Assets
At a glance
- Increase in total assets to €87,383 million mainly due to higher current assets
- Intangible fixed assets and property, plant and equipment around €2.3 billion above the prior year-end figure overall
Total assets amounted to €87,383 million as of December 31, 2021, €7,091 million above the prior-year level.
Noncurrent assets rose by €1,908 million to €52,332 million. This was mainly attributable to the €1,906 million increase in property, plant and equipment. Additions to property, plant and equipment amounted to €4,410 million and included €332 million in connection with the formation of BASF Shanshan Battery Materials Co., Ltd. Currency effects of €798 million also contributed to the increase. Depreciation amounted to €2,922 million. Intangible assets amounted to €13,499 million, €354 million above the prior year-end figure. The increase was due in particular to currency effects in the amount of €572 million. Additions to intangible assets totaled €470 million and included €392 million from the formation of BASF Shanshan Battery Materials, of which goodwill was €254 million. Amortization of €612 million had an offsetting effect.
For more information on the above transactions see:
Noncurrent other receivables and miscellaneous assets amounted to €1,722 million, up €810 million from the prior-year level. This primarily resulted from higher defined benefit assets and derivatives with positive fair values.
Integral investments accounted for using the equity method rose by €662 million year on year to €2,540 million, mainly due to positive after-tax earnings at BASF YPC-Company Ltd., Nanjing, China, and positive currency effects.
The €1,031 million decline in the carrying amounts of non-integral shareholdings accounted for using the equity method compared with December 31, 2020, was largely attributable to dividend payments by and negative after-tax earnings at Wintershall Dea AG and to the disposal of the shareholding in Solenis.
Other financial assets decreased by €7 million compared with the prior year-end figure.
Deferred tax assets declined by €786 million, primarily as a result of lower pension provisions.
Current assets rose by €5,183 million to €35,051 million. This was driven by the €3,858 million increase in inventories compared with the prior year-end as a result of higher raw materials prices and the stronger business performance in 2021. The €2,476 million increase in trade accounts receivable was also mainly due to strong business development.
Other receivables and miscellaneous assets rose by €895 million, primarily due to higher tax refund claims and positive fair values of derivatives.
The €1,706 million decrease in cash and cash equivalents compared with the figure as of December 31, 2020, to €2,624 million had an offsetting effect.
Assets of disposal groups amounted to €840 million as of December 31, 2021. These include the assets of the shareholding in the Hollandse Kust Zuid wind farm and the kaolin minerals business, which is held for sale.