25. Other Financial Obligations
The figures listed below are stated at nominal value:
|
Dec. 31, 2022 |
Dec. 31, 2021 |
|---|---|---|
Bills of exchange |
5 |
3 |
Guarantees |
41 |
383 |
Warranties |
33 |
58 |
Collateral granted on behalf of third-party liabilities |
1 |
1 |
Initiated investment projects |
13,982 |
4,761 |
of which purchase commitments |
5,019 |
1,481 |
for the purchase of intangible assets |
10 |
10 |
Payment and loan commitments and other financial obligations |
293 |
263 |
BASF SE provides a guarantee to Abu Dhabi National Oil Corporation covering all obligations of Wintershall Dea Middle East GmbH related to the Ghasha concession in the United Arab Emirates. Furthermore, BASF SE assumed guarantees to the Danish Energy Agency covering all obligations of Wintershall Dea International GmbH and Wintershall Noordzee B.V. related to licenses for exploration and production of hydrocarbons in the Danish concession area. The guarantees do not stipulate a maximum amount. The risk of a claim being exercised against the guarantees is classified as low. The decline in guarantees resulted primarily from the fact that BASF SE’s guarantees were no longer in existence for abandonment obligations of Wintershall Dea Norge AS for various oil and gas facilities acquired from Equinor as of December 31, 2022.
The rise in obligations from initiated investment projects is mainly attributable to the construction of BASF’s new Verbund site in Zhanjiang, China.
Obligations arising from purchase contracts
Obligations from purchase contracts resulted primarily from long-term purchase obligations for raw materials as well as supply agreements for energy from renewable sources. The decline is mainly attributable to lower purchase obligations for raw materials.
Firm purchase obligations as of December 31, 2022, were as follows:
|
Dec. 31, 2022 |
Dec. 31, 2021 |
||||||
|---|---|---|---|---|---|---|---|---|
Following year 1 |
9,353 |
9,686 |
||||||
Following year 2 |
2,703 |
4,963 |
||||||
Following year 3 |
2,150 |
1,832 |
||||||
Following year 4 |
2,058 |
1,716 |
||||||
Following year 5 |
1,975 |
1,720 |
||||||
Following year 6 and maturities beyond this year |
8,876 |
9,644a |
||||||
Total |
27,116 |
29,561 |
||||||
|
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