2. Scope of Consolidation
As of April 12, 2022, BASF sold 51% of its shares in HKZ Investor Holding B.V., Arnhem, Netherlands, which holds 49.5% of shares in the Hollandse Kust Zuid (HKZ) wind farm via a total of four affiliated companies, to Allianz Capital Partners. Through the resulting loss of control, the affiliated companies were eliminated from the scope of consolidation. Since then, the previously fully consolidated company HKZ Investor Holding B.V. has been consolidated as an integral joint venture using the equity method.
Because of increased importance, Lucura Versicherungs AG, Ludwigshafen am Rhein, Germany, which was previously accounted for as an integral associated company using the equity method, was included in the Consolidated Financial Statements for the first time. The following table shows the effects of the reclassification of Lucura Versicherungs AG. The effects recognized in equity resulted primarily from the elimination of provisions against other BASF Group companies that had been recognized in Lucura Versicherungs AG’s separate financial statements.
|
Europe |
Of which Germany |
North America |
Asia Pacific |
South America, Africa, Middle East |
2022 |
2021 |
|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
As of January 1 |
140 |
43 |
35 |
71 |
21 |
267 |
282 |
|||||||||||||
| of which proportionally consolidated | 7 |
– |
– |
2 |
– |
9 |
9 |
|||||||||||||
First-time consolidationsa |
1 |
1 |
– |
– |
– |
1 |
9 |
|||||||||||||
| of which proportionally consolidated | – |
– |
– |
– |
– |
– |
– |
|||||||||||||
Deconsolidationsb |
8 |
– |
2 |
1 |
– |
11 |
24 |
|||||||||||||
| of which proportionally consolidated | – |
– |
– |
– |
– |
– |
– |
|||||||||||||
As of December 31 |
133 |
44 |
33 |
70 |
21 |
257 |
267 |
|||||||||||||
| of which proportionally consolidated | 7 |
– |
– |
2 |
– |
9 |
9 |
|||||||||||||
|
||||||||||||||||||||
|
2022 |
2021 |
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Million € |
Of which Lucura Versicherungs AG |
%a |
Million € |
%a |
|||||||||
Sales |
–46 |
– |
0.0 |
–1 |
0.0 |
|||||||||
|
|
|
|
|
|
|||||||||
Noncurrent assets |
191 |
190 |
0.4 |
21 |
0.0 |
|||||||||
| of which property, plant and equipment | –1 |
– |
0.0 |
–1 |
0.0 |
|||||||||
Current assets |
11 |
16 |
0.0 |
–28 |
0.0 |
|||||||||
| of which cash and cash equivalents | 5 |
10 |
0.2 |
–8 |
0.3 |
|||||||||
Assets |
202 |
205 |
0.2 |
–7 |
0.0 |
|||||||||
|
|
|
|
|
|
|||||||||
Equity |
124 |
124 |
0.3 |
1 |
0.0 |
|||||||||
Noncurrent liabilities |
128 |
129 |
0.6 |
0 |
0.0 |
|||||||||
| of which financial indebtedness | – |
– |
– |
– |
– |
|||||||||
Current liabilities |
–50 |
–47 |
–0.2 |
–8 |
0.0 |
|||||||||
| of which financial indebtedness | – |
– |
– |
– |
– |
|||||||||
Total equity and liabilities |
202 |
205 |
0.2 |
–7 |
0.0 |
|||||||||
Other financial obligations |
– |
– |
– |
– |
– |
|||||||||
|
||||||||||||||
The proportionally consolidated joint operations include, in particular:
- Ellba C.V., Rotterdam, Netherlands, which is jointly operated with Shell for the production of propylene oxide and styrene monomer
- BASF DOW HPPO Production BVBA, Antwerp, Belgium, which is jointly operated with Dow for the production of propylene oxide
- Butachimie SNC, Chalampé, France, which is jointly operated with Invista for the production of adiponitrile (ADN) and hexamethylenediamine (HMD)
- Alsachimie S.A.S., Chalampé, France, which is jointly operated with Domo Chemicals for the production of adipic acid
In addition to the fully and proportionally consolidated companies, 23 joint ventures and/or associated companies (2021: 27) were consolidated using the equity method as of December 31, 2022.
A list of the companies included in the Consolidated Financial Statements and of all companies in which BASF SE has a shareholding as required by section 313(2) of the German Commercial Code (HGB) is provided in the list of shares held.