Net Assets

Total assets were €86,102 million, which was €5,810 million higher than at the end of 2020.

Noncurrent assets increased by €1,154 million. This was positively affected by the €959 million from integral shareholdings accounted for using the equity method mainly due to positive after-tax earnings and the initial inclusion of the shareholdings in the Hollandse Kust Zuid wind farm. The value of property, plant and equipment was €917 million above the level as of December 31, 2020. This was due to positive currency effects, additions related to the formation of the BASF Shanshan Battery Materials Co., Ltd. joint venture, and investments exceeding depreciation by €192 million. The value of intangible assets rose by €391 million also mainly because of positive currency effects and additions related to the formation of the joint venture with Shanshan. The increase of €649 million in other receivables and miscellaneous assets resulted primarily from higher defined benefit assets and from derivatives with positive fair values. Deferred taxes decreased by €921 million due largely to lower pension provisions. The €773 million decline in the carrying amounts of non-integral shareholdings accounted for using the equity method compared with the end of last year resulted largely from the reclassification of the shareholding in Solenis to assets of disposal groups and from dividend payments by Wintershall Dea AG.

Current assets increased by €4,656 million to €34,524 million. This was mainly due to higher trade accounts receivable resulting from positive business performance and to increased inventories resulting from higher raw materials prices. Other receivables and miscellaneous assets rose by €1,507 million primarily due to higher positive fair values of derivatives and higher precious metal trading items. The decline in cash and cash equivalents had an offsetting effect. The assets of the disposal group as of September 30, 2021, ­included the shareholding in Solenis.