Net Assets
|
December 31, 2022 |
December 31, 2021 |
||
|---|---|---|---|---|
|
Million € |
% |
Million € |
% |
Intangible assets |
13,273 |
15.8 |
13,499 |
15.5 |
Property, plant and equipment |
22,967 |
27.3 |
21,553 |
24.7 |
Integral investments accounted for using the equity method |
2,356 |
2.8 |
2,540 |
2.9 |
Non-integral investments accounted for using the equity method |
4,645 |
5.5 |
9,843 |
11.3 |
Other financial assets |
1,120 |
1.3 |
575 |
0.7 |
Deferred tax assets |
880 |
1.0 |
2,600 |
3.0 |
Other receivables and miscellaneous assets |
1,810 |
2.2 |
1,722 |
2.0 |
Noncurrent assets |
47,050 |
55.7 |
52,332 |
59.9 |
|
|
|
|
|
Inventories |
16,028 |
19.0 |
13,868 |
15.9 |
Accounts receivable, trade |
12,055 |
14.3 |
11,942 |
13.7 |
Other receivables and miscellaneous assets |
6,591 |
7.8 |
5,568 |
6.4 |
Marketable securities |
232 |
0.3 |
208 |
0.2 |
Cash and cash equivalents |
2,516 |
3.0 |
2,624 |
3.0 |
Assets of disposal groups |
− |
− |
840 |
1.0 |
Current assets |
37,422 |
44.4 |
35,051 |
40.1 |
Total assets |
84,472 |
100.0 |
87,383 |
100.0 |
Assets
At a glance
- Decrease in total assets to €84.5 billion, mainly due to impairments on the shareholding in Wintershall Dea AG of around €6.5 billion
- Current assets up €2.4 billion, primarily as a result of higher inventories
Total assets amounted to €84,472 million as of December 31, 2022, €2,910 million below the prior year-end figure.
Noncurrent assets declined by €5,282 million compared with December 31, 2021, to €47,050 million. This was largely attributable to the €5,198 million decrease in the carrying amounts of non-integral shareholdings accounted for using the equity method, mainly due to impairments on the shareholding in Wintershall Dea AG totaling €6,531 million. These primarily related to Wintershall Dea’s Russian activities and its European gas transportation business.
Deferred tax assets declined by €1,720 million, mainly due to lower pension provisions.
Intangible assets amounted to €13,273 million, €227 million below the prior year-end figure. This largely reflected amortization of €648 million, which was partially offset by additions of €125 million. Currency effects increased intangible assets by €330 million. Goodwill rose by €176 million to €7,696 million, mainly from currency effects.
Compared with the end of the previous year, the carrying amounts of integral investments accounted for using the equity method declined by €184 million to €2,356 million. The addition of the interest in the Hollandse Kust Zuid wind farm following the sale of shares was offset by decreases at Lucura Versicherungs AG due to the transition to full consolidation and at BASF-YPC Company Ltd., Nanjing, China.
The €1,414 million increase in property, plant and equipment was mainly due to additions of €4,842 million, which exceeded depreciation by €1,273 million. Currency effects of €286 million also contributed to the increase.
Other financial assets were €545 million higher than the prior year-end figure, in particular from the first-time inclusion of Lucura Versicherungs AG in the consolidated financial statements as a fully consolidated company.
Noncurrent other receivables and miscellaneous assets amounted to €1,810 million, up €88 million from the previous year, largely as a result of higher defined benefit assets.
Current assets rose by €2,371 million compared with December 31, 2021, primarily from the €2,159 million increase in inventories; the Agricultural Solutions segment in particular recorded inventory growth.
Other current receivables and miscellaneous assets rose by €1,023 million, mainly due to higher precious metal trading items, higher positive fair values of derivatives and higher tax refund claims.
Trade accounts receivable increased by €114 million year on year.
The assets reported as disposal groups as of December 31, 2021, were divested in 2022: BASF sold 51% of its interest in the Hollandse Kust Zuid wind farm in the second quarter and the divestiture of the kaolin minerals business was completed on September 30.
At €2,516 million, cash and cash equivalents were €108 million below the figure as of December 31, 2021.