(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:
|Data from the Statement of Financial Position|
|€ million||Dec. 31, 2012||Dec. 31, 2013|
|Adjustment of LANXESS’s interest |
and equity valuation
|Investments accounted for using |
the equity method
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).