BASF Report 2021 Consoli dated Financial Statements – Notes 226 Stahl Lux 2 S.A., Luxembourg (BASF interest: 16.32%), Reconciliation of the carrying amounts of integral shareholdings accounted for using the equity method Quantafuel ASA, Oslo, Norway (BASF interest: 10.59%), and CIMO Million € Compagnie industrielle de Monthey S.A., Monthey, Switzerland Joint ventures Associated companies (BASF interest: 15%), are classified as associated companies as 2021 2020 2021 2020 BASF is represented in the relevant boards and can thus exercise Carrying amounts according to the equity method as of the beginning of the year 1,297 1,309 581 576 significant influence over the companies. Proportional income after taxes and other adjustments to income and expenses 601 188 74 32 Proportional changes in other comprehensive income 109 –35 18 –12 10.1 Integral companies accounted for using the equity Total comprehensive income 710 153 92 20 method Changes in the scope of consolidation – – – – Additions 12 – 614 – Disposals – –6 –13 –8 Income from integral companies accounted for using the equity method Transfers –180 –159 –573 –7 Million € 2021 2020 Carrying amounts according to the equity method as of the end of the year 1,839 1,297 701 581 Proportional income after taxes 669 234 of which joint ventures 593 193 associated companies 76 41 Proportional income after taxes and other adjustments to Disposals in 2021 related to decreases in capital of the associated Other adjustments to income and expenses 6 –14 income and expenses for the joint ventures increased mainly company, Yara Freeport LLC, Wilmington, Delaware. of which joint ventures 8 –5 because of the improved earnings contribution of BASF-YPC Company Ltd. In 2021, transfers regarding joint ventures included dividend associated companies –2 –9 payments and regarding associated companies they included Income from integral companies accounted for using 675 220 Proportional changes of other comprehensive income included dividend payments as well as the reclassification of the shareholding the equity method income and expense recognized directly in equity and related in the Hollandse Kust Zuid wind farm in the amount of €565 million primarily to currency effects. to the disposal group. Income from integral companies accounted for using the equity method increased by €455 million in 2021. Of the increase, Additions for associated companies in 2021 related primarily to the €343 million related to the shareholding in BASF-YPC purchase of 49.5% of Vattenfall’s Hollandse Kust Zuid offshore wind Com pany Ltd., primarily due to higher prices and volumes. In farm. The total investment has been reported as a disposal group addition, the previous year had also been burdened by scheduled since December 2021 due to the agreement to sell shares in the turnarounds of production plants. wind farm to Allianz Capital Partners.