17 – Related Party Transactions

The BASF Group maintains relationships with several related parties that can exert influence on the BASF Group or over which the BASF Group exercises control or joint control, or a significant influence.

Sales and trade accounts receivable from and trade accounts payable to related parties mainly included business with own products, merchandise, agency and licensing businesses, and other operating businesses.

Other receivables and liabilities primarily arose from financing activities, from accounts used for cash pooling, outstanding dividend payments, profit and loss transfer agreements, and other finance-related and operating activities and transactions.

The increase in goods and services received from associated companies was attributable to higher volumes and prices.

The balance of valuation allowances on other receivables from nonconsolidated subsidiaries increased from €100 million as of December 31, 2021, to €102 million as of June 30, 2022.

The balance of valuation allowances on trade accounts receivable from nonconsolidated subsidiaries rose from €3 million as of December 31, 2021, to €4 million as of June 30, 2022, and from joint ventures from €2 million as of December 31, 2021, to €3 million as of June 30, 2022.

The following tables show the volume of business with related parties that are included in the Consolidated Financial Statements at amortized cost or accounted for using the equity method. The values include sales, receivables, other receivables, liabilities and other liabilities relating to the disposal groups.

There were no reportable related-party transactions with members of the Board of Executive Directors or the Supervisory Board and their related parties during the reporting period.