20. Liabilities
The content of this section is not part of the statutory audit of the annual financial statements but has undergone a separate limited assurance by our auditor.
The content of this section is voluntary, unaudited information, which was critically read by the auditor.
Million € |
|
|
|
Carrying amounts based on |
||
|---|---|---|---|---|---|---|
|
|
Currency |
Nominal value (million, currency of issue) |
Effective interest rate |
Dec. 31, 2024 |
Dec. 31, 2023 |
BASF SE |
|
|
|
|
|
|
2.500% |
Bond 2014/2024 |
EUR |
500 |
2.60% |
– |
500 |
1.750% |
Bond 2017/2025 |
GBP |
300 |
1.87% |
362 |
345 |
0.875% |
Bond 2018/2025 |
EUR |
750 |
0.97% |
750 |
749 |
3.675% |
Bond 2013/2025 |
NOK |
1,450 |
3.70% |
123 |
129 |
0.750% |
Bond 2022/2026 |
EUR |
1,000 |
0.82% |
999 |
999 |
0.250% |
Bond 2020/2027 |
EUR |
1,000 |
0.32% |
998 |
998 |
0.875% |
Bond 2017/2027 |
EUR |
1,000 |
1.04% |
995 |
994 |
3.125% |
Bond 2022/2028 |
EUR |
750 |
3.27% |
747 |
746 |
2.670% |
Bond 2017/2029 |
NOK |
1,600 |
2.69% |
136 |
142 |
0.875% |
Bond 2019/2029 |
EUR |
250 |
1.01% |
249 |
248 |
4.000% |
Bond 2023/2029 |
EUR |
500 |
4.08% |
499 |
498 |
1.500% |
Bond 2018/2030 |
EUR |
500 |
1.63% |
497 |
496 |
1.500% |
Bond 2016/2031 |
EUR |
200 |
1.58% |
199 |
199 |
1.500% |
Bond 2022/2031 |
EUR |
1,000 |
1.53% |
998 |
998 |
0.875% |
Bond 2016/2031 |
EUR |
500 |
1.01% |
496 |
495 |
2.370% |
Bond 2016/2031 |
HKD |
1,300 |
2.37% |
161 |
151 |
4.250% |
Bond 2023/2032 |
EUR |
500 |
4.30% |
498 |
498 |
3.750% |
Bond 2022/2032 |
EUR |
750 |
3.85% |
745 |
745 |
1.450% |
Bond 2017/2032 |
EUR |
300 |
1.57% |
298 |
297 |
3.000% |
Bond 2013/2033 |
EUR |
500 |
3.15% |
495 |
494 |
2.875% |
Bond 2013/2033 |
EUR |
200 |
2.96% |
199 |
199 |
4.000% |
Bond 2018/2033 |
AUD |
160 |
4.24% |
94 |
97 |
4.500% |
Bond 2023/2035 |
EUR |
500 |
4.54% |
498 |
498 |
1.625% |
Bond 2017/2037 |
EUR |
750 |
1.73% |
741 |
740 |
3.250% |
Bond 2013/2043 |
EUR |
200 |
3.27% |
200 |
200 |
1.025% |
Bond 2018/2048 |
JPY |
10,000 |
1.03% |
61 |
64 |
3.890% |
U.S. private placement series A 2013/2025 |
USD |
250 |
3.92% |
241 |
226 |
4.090% |
U.S. private placement series B 2013/2028 |
USD |
700 |
4.11% |
673 |
633 |
5.520% |
U.S. private placement 2024/2030 |
USD |
350 |
5.64% |
336 |
− |
5.670% |
U.S. private placement 2024/2033 |
USD |
250 |
5.78% |
240 |
− |
5.710% |
U.S. private placement 2024/2034 |
USD |
400 |
5.82% |
384 |
− |
4.430% |
U.S. private placement series C 2013/2034 |
USD |
300 |
4.45% |
288 |
271 |
5.810% |
U.S. private placement 2024/2036 |
USD |
200 |
5.92% |
192 |
− |
5.910% |
U.S. private placement 2024/2039 |
USD |
300 |
6.01% |
288 |
− |
BASF Finance Europe N.V. |
|
|
|
|
|
|
3.625% |
Bond 2018/2025 |
USD |
200 |
3.69% |
192 |
181 |
0.750% |
Bond 2016/2026 |
EUR |
500 |
0.88% |
499 |
498 |
BASF Ireland DAC |
|
|
|
|
|
|
2.390% |
Panda Bond |
CNY |
2,000 |
2.39% |
263 |
– |
BASF Corporation |
|
|
|
|
|
|
6.950% |
Bond 1998/2028 |
USD |
120 |
6.95% |
118 |
112 |
Bonds and other liabilities to the capital market |
|
|
|
15,751 |
14,438 |
|
Liabilities to credit institutions |
|
|
|
6,011 |
4,830 |
|
Financial indebtedness |
|
|
|
21,762 |
19,268 |
|
Million € |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
Euro |
14,228 |
15,408 |
U.S. dollar |
3,281 |
1,735 |
Chinese renminbi |
2,515 |
424 |
Pound sterling |
362 |
345 |
Japanese yen |
274 |
221 |
Norwegian krone |
258 |
271 |
Hong Kong dollar |
161 |
151 |
South African rand |
102 |
80 |
Australian dollar |
94 |
97 |
Indonesian rupiah |
67 |
48 |
Brazilian real |
45 |
64 |
Thai baht |
20 |
39 |
Turkish lira |
8 |
60 |
Indian rupee |
– |
60 |
Argentine peso |
– |
7 |
Other currencies |
345 |
260 |
Total |
21,762 |
19,268 |
Million € |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
Following year 1 |
2,639 |
2,182 |
Following year 2 |
2,723 |
1,904 |
Following year 3 |
2,662 |
2,681 |
Following year 4 |
1,875 |
2,383 |
Following year 5 |
982 |
1,818 |
Following year 6 and maturities beyond this year |
10,880 |
8,300 |
Total |
21,762 |
19,268 |
Liabilities to credit institutions
Liabilities to credit institutions increased from €4,830 million as of December 31, 2023, to €6,011 million as of December 31, 2024. The weighted average interest rate on loans amounted to 3.9% in 2024, compared with 4.2% in 2023.
In 2023, BASF Integrated Site (Guangdong) Co. Ltd., China, signed a 40 billion Chinese renminbi syndicated bank term loan facility with a maturity of 15 years for its Verbund site in Zhanjiang, and had utilized an amount of 17 billion Chinese renminbi (€2,130 million) as of December 31, 2024. When drawn, the interest rate is variable.
Unused credit lines
BASF SE had committed and unused credit lines, when drawn with variable interest rates, amounting to €6,000 million as of December 31, 2024 (previous year: €6,000 million).
Other liabilities
Million € |
Dec. 31, 2024 |
Dec. 31, 2023 |
||
|---|---|---|---|---|
|
Noncurrent |
Current |
Noncurrent |
Current |
Derivatives with negative fair values |
77 |
249 |
135 |
192 |
Liabilities from leases |
1,323 |
340 |
1,299 |
350 |
Loan and interest liabilities |
10 |
561 |
16 |
415 |
Advances received on future orders |
− |
727 |
− |
779 |
Miscellaneous liabilities |
46 |
934 |
45 |
560 |
Other liabilities that qualify as financial instruments |
1,456 |
2,811 |
1,496 |
2,297 |
Liabilities related to social security |
31 |
94 |
39 |
100 |
Employee liabilities |
21 |
297 |
23 |
335 |
Liabilities from precious metal trading positions |
− |
15 |
− |
43 |
Contract liabilities |
108 |
30 |
141 |
36 |
Deferred income |
109 |
46 |
19 |
38 |
Miscellaneous liabilities |
19 |
422 |
21 |
441 |
Other liabilities that do not qualify as financial instruments |
289 |
904 |
243 |
994 |
Other liabilities |
1,744 |
3,714 |
1,739 |
3,291 |
Miscellaneous liabilities that qualify as financial instruments include, among others, liabilities arising from unpaid dividends and profit and loss transfer agreements and liabilities arising from cash-pooling accounts with nonconsolidated Group companies. The rise was particularly due to the out-of-court settlement of the multidistrict litigation proceedings in connection with AFFF products in the United States which becomes due for payment in 2025 (for more information, see Note 23).
The majority of contract liabilities have terms of up to five years. Of the contract liabilities reported as of December 31, 2024, €43 million are expected to be recognized as revenue in 2025.
Million € |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
To secure |
|
|
liabilities to credit institutions |
12 |
13 |
accounts payable, trade |
6 |
4 |
other liabilities |
54 |
41 |
Carrying amounts of assets used |
71 |
58 |
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 cash. This results in recognition of receivables under other receivables and miscellaneous assets.
This content fulfills the Disclosure Requirements of the European Sustainability Reporting Standards (ESRS). The ESRS Index gives an overview of the references to the ESRSs in this report.