21. Liabilities
|
|
|
|
|
Carrying amounts based on effective interest method |
|||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
Currency |
Nominal value (million, |
Effective interest rate |
December 31, 2022 |
December 31, 2021 |
||||||||||
BASF SE |
|
|
|
|
|
|||||||||||
Commercial paper |
USD |
700 |
|
654 |
248 |
|||||||||||
2.500% |
Bond 2017/2022 |
USD |
500 |
2.65% |
– |
441 |
||||||||||
1.375% |
Bond 2018/2022 |
GBP |
250 |
1.52% |
– |
297 |
||||||||||
2.000% |
Bond 2012/2022 |
EUR |
1,250 |
1.93% |
– |
1,251 |
||||||||||
0.925% |
Bond 2017/2023 |
USD |
850 |
0.83% |
795 |
739 |
||||||||||
0.101% |
Bond 2020/2023 |
EUR |
1,000 |
0.14% |
1,000 |
999 |
||||||||||
0.875% |
Bond 2016/2023 |
GBP |
250 |
1.06% |
281 |
297 |
||||||||||
2.500% |
Bond 2014/2024 |
EUR |
500 |
2.60% |
499 |
499 |
||||||||||
1.750% |
Bond 2017/2025 |
GBP |
300 |
1.87% |
337 |
356 |
||||||||||
0.875% |
Bond 2018/2025 |
EUR |
750 |
0.97% |
748 |
748 |
||||||||||
3.675% |
Bond 2013/2025 |
NOK |
1,450 |
3.70% |
138 |
145 |
||||||||||
0.750% |
Bond 2022/2026 |
EUR |
1,000 |
0.82% |
998 |
– |
||||||||||
0.250% |
Bond 2020/2027 |
EUR |
1,000 |
0.32% |
997 |
996 |
||||||||||
0.875% |
Bond 2017/2027 |
EUR |
1,000 |
1.04% |
992 |
990 |
||||||||||
3.125% |
Bond 2022/2028 |
EUR |
750 |
3.27% |
745 |
– |
||||||||||
2.670% |
Bond 2017/2029 |
NOK |
1,600 |
2.69% |
152 |
160 |
||||||||||
0.875% |
Bond 2019/2029 |
EUR |
250 |
1.01% |
248 |
248 |
||||||||||
1.500% |
Bond 2018/2030 |
EUR |
500 |
1.63% |
496 |
495 |
||||||||||
1.500% |
Bond 2016/2031 |
EUR |
200 |
1.58% |
199 |
199 |
||||||||||
1.500% |
Bond 2022/2031 |
EUR |
1,000 |
1.53% |
997 |
– |
||||||||||
0.875% |
Bond 2016/2031 |
EUR |
500 |
1.01% |
495 |
494 |
||||||||||
2.370% |
Bond 2016/2031 |
HKD |
1,300 |
2.37% |
156 |
147 |
||||||||||
3.750% |
Bond 2022/2032 |
EUR |
750 |
3.85% |
744 |
– |
||||||||||
1.450% |
Bond 2017/2032 |
EUR |
300 |
1.57% |
297 |
297 |
||||||||||
3.000% |
Bond 2013/2033 |
EUR |
500 |
3.15% |
494 |
493 |
||||||||||
2.875% |
Bond 2013/2033 |
EUR |
200 |
2.96% |
198 |
198 |
||||||||||
4.000% |
Bond 2018/2033 |
AUD |
160 |
4.24% |
100 |
100 |
||||||||||
1.625% |
Bond 2017/2037 |
EUR |
750 |
1.73% |
739 |
739 |
||||||||||
3.250% |
Bond 2013/2043 |
EUR |
200 |
3.27% |
200 |
200 |
||||||||||
1.025% |
Bond 2018/2048 |
JPY |
10,000 |
1.03% |
71 |
77 |
||||||||||
3.890% |
U.S. private placement series A 2013/2025 |
USD |
250 |
3.92% |
234 |
221 |
||||||||||
4.090% |
U.S. private placement series B 2013/2028 |
USD |
700 |
4.11% |
655 |
617 |
||||||||||
4.430% |
U.S. private placement series C 2013/2034 |
USD |
300 |
4.45% |
281 |
264 |
||||||||||
BASF Finance Europe N.V. |
|
|
|
|
|
|||||||||||
3.625% |
Bond 2018/2025 |
USD |
200 |
3.69% |
187 |
176 |
||||||||||
0.750% |
Bond 2016/2026 |
EUR |
500 |
0.88% |
497 |
497 |
||||||||||
Other bonds |
|
|
|
116 |
110 |
|||||||||||
Bonds and other liabilities to the capital market |
|
|
15,743 |
13,737 |
||||||||||||
Liabilities to credit institutions |
|
|
3,273 |
3,447 |
||||||||||||
Financial indebtedness |
|
|
|
19,016 |
17,184 |
|||||||||||
|
||||||||||||||||
|
Dec. 31, 2022 |
Dec. 31, 2021 |
|---|---|---|
Euro |
13,790 |
11,611 |
U.S. dollar |
3,258 |
3,255 |
Pound sterling |
619 |
950 |
Norwegian krone |
290 |
305 |
Indian rupee |
176 |
154 |
Hong Kong dollar |
156 |
147 |
Argentinian peso |
128 |
99 |
Japanese yen |
102 |
119 |
Australian dollar |
100 |
100 |
Brazilian real |
85 |
61 |
Turkish lira |
74 |
63 |
South African rand |
63 |
33 |
Chinese renminbi |
57 |
168 |
Indonesian rupiah |
52 |
45 |
Thai baht |
51 |
55 |
Other currencies |
15 |
19 |
Total |
19,016 |
17,184 |
|
Dec. 31, 2022 |
Dec. 31, 2021 |
|---|---|---|
Following year 1 |
3,844 |
3,420 |
Following year 2 |
1,300 |
2,208 |
Following year 3 |
1,918 |
1,280 |
Following year 4 |
2,177 |
1,892 |
Following year 5 |
2,381 |
1,177 |
Following year 6 and maturities beyond this year |
7,395 |
7,207 |
Total |
19,016 |
17,184 |
Other bonds
Other bonds consisted of a bond issued by BASF Corporation that was used to finance investments in the United States. Both the nominal interest rate and effective interest rate of this bond were 6.95% in 2022. Its remaining term to maturity is 66 months.
Liabilities to credit institutions
Liabilities to credit institutions decreased from €3,447 million as of December 31, 2021 to €3,273 million as of December 31, 2022. The weighted average interest rate on loans amounted to 5.7% in 2022, compared with 2.7% in 2021.
Unused credit lines
BASF SE had committed and unused credit lines with variable interest rates, when drawn, amounting to €9,350 million as of December 31, 2022, and €6,000 million as of December 31, 2021.
|
December 31, 2022 |
December 31, 2021 |
||
|---|---|---|---|---|
|
Noncurrent |
Current |
Noncurrent |
Current |
Derivatives with negative fair values |
93 |
294 |
131 |
438 |
Liabilities from leases |
1,159 |
329 |
1,078 |
334 |
Loan and interest liabilities |
21 |
425 |
35 |
505 |
Advances received on orders |
– |
926 |
– |
949 |
Miscellaneous liabilities |
52 |
781 |
26 |
753 |
Other liabilities that qualify as financial instruments |
1,325 |
2,756 |
1,270 |
2,978 |
Liabilities related to social security |
49 |
100 |
63 |
79 |
Employee liabilities |
22 |
297 |
22 |
294 |
Liabilities from precious metal trading positions |
– |
56 |
– |
201 |
Contract liabilities |
176 |
37 |
201 |
40 |
Deferred income |
16 |
53 |
17 |
32 |
Miscellaneous liabilities |
18 |
70 |
28 |
56 |
Other liabilities that do not qualify as financial instruments |
282 |
612 |
330 |
701 |
Other liabilities |
1,606 |
3,368 |
1,600 |
3,679 |
Other liabilities
The majority of contract liabilities have terms of up to five years. Of the contract liabilities reported as of December 31, 2022, €37 million are expected to be recognized as revenue in 2023.
- For more information on financial risks and derivative instruments, see Note 26
- For more information on liabilities arising from leases, see Note 16
|
Dec. 31, 2022 |
Dec. 31, 2021 |
|---|---|---|
To secure |
|
|
liabilities to credit institutions |
15 |
64 |
accounts payable, trade |
3 |
11 |
other liabilities |
51 |
170 |
Carrying amounts of assets used |
69 |
245 |
Liabilities to credit institutions were secured primarily with registered land charges. Secured other liabilities relate primarily to derivatives with negative fair values that are secured with other receivables and miscellaneous assets.