(3) Investments accounted for using the equity method

As in the previous year, Currenta GmbH & Co. OHG, Leverkusen, Germany, was accounted for using the equity method. As of the first quarter of 2013, the investment in LANXESS-TSRC (Nantong) Chemical Industrial Co., Ltd., Nantong, China, was no longer accounted for using the equity method. Instead, the company was fully consolidated as a subsidiary. The shares in Anhui Tongfeng Shengda Chemical Co., Ltd., Tongling, China, were divested.

The following tables show the main items of the income statements and statements of financial position of investments accounted for using the equity method:

Income Statement Data
 
€ million 2012 2013
     
Sales 1,399 1,386
Income (loss) after income taxes (26) 14
 
Data from the Statement of Financial Position
 
€ million Dec. 31, 2012 Dec. 31, 2013
     
Assets 1,093 999
Liabilities 1,062 941
Equity 31 58
Adjustment of LANXESS’s interest
and equity valuation
(23) (46)
Investments accounted for using
the equity method
8 12
 

The €4 million increase in the carrying amount of investments accounted for using the equity method in 2013 arose from gains of €26 million recognized in other comprehensive income. The €4 million decrease in 2012 was based on income of €1 million from investments accounted for using the equity method. The carrying amount was further reduced by disbursements of €12 million (2012: €32 million) from reserves and effect of the pro rata income transfer the €2 million (2012: €2 million effect of the pro rata transfer of 2011 income). In 2012, an obligation to offset a loss of €29 million also had an impact. The first-time full consolidation of LANXESS-TSRC (Nantong) Chemical Industrial Co., Ltd., Nantong, China, reduced the carrying amount of investments accounted for using the equity method by €8 million. The divestment of Anhui Tongfeng Shengda Co., Ltd., Tongling, China, had no impact on the carrying amount of the investments.

In fiscal 2012 a share of the losses of Currenta GmbH & Co. OHG, Leverkusen, Germany, amounting to €3 million was not recognized in the consolidated financial statements. As of December 31, 2013 there were no accumulated losses that were not recognized (2012: €3 million).