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(3) Investments accounted for using the equity method

As in the previous year, Currenta GmbH & Co. OHG, Leverkusen, Germany, Anhui Tongfeng Shengda Co., Ltd., Tongling, China, and LANXESS-TSRC (Nantong) Chemical Industrial Co., Ltd., Nantong, China, were accounted for using the equity method.

The following tables show the main items included in the income statement and statement of financial position related to these associates:

Income from Investments Accounted for Using the Equity Method
     
€ million 2011 2012
     
Sales 1,333 1,399
Income from investments accounted for using the equity method 7 1
 
Investments Accounted for Using the Equity Method
     
€ million Dec. 31, 2011 Dec. 31, 2012
     
Assets 911 1,093
Liabilities 739 1,062
Equity 172 31
Adjustment of LANXESS’s interest and equity valuation (160) (23)
Investments accounted for using the equity method 12 8
 

The €4 million (2011: €1 million) decrease in the carrying amount of investments accounted for using the equity method arose from the equity-method income and the effect of the distribution of €2 million (2011: €1 million) in pro-rata prior-year income. In fiscal 2012, there was also a €32 million payment out of reserves and an obligation to offset a loss of €29 million. The carrying amount of investments accounted for using the equity method decreased by a total amount of €3 million. The prior-year figure also reflected losses of €11 million recognized in other comprehensive income.

A capital increase at LANXESS-TSRC (Nantong) Chemical Industrial Co., Ltd., Nantong, China, in the previous year increased the carrying amount of investments accounted for using the equity method by €4 million. In fiscal 2012 a share of the losses of Currenta GmbH & Co. OHG, Leverkusen, Germany, amounting to €3 million (2011: €0 million) was not recognized in the consolidated financial statements.

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