Financial Statements

6. Scope of Consolidation; Subsidiaries and Affiliates

6.1 Changes in the Scope of Consolidation

Changes in the scope of consolidation in 2014 were as follows:

Change in Number of Consolidated Companies   [Table 4.17]
 GermanyOther countriesTotal
Bayer AG and consolidated companies   
December 31, 201365224289
Changes in scope of consolidation156
Additions12021
Retirements(14)(14)
December 31, 201467235302

The increase in the number of consolidated companies in 2014 was primarily due to acquisitions. Derecognitions were primarily due to mergers among Group companies.

The Bayer Group holds 100% of the voting rights in the fully consolidated subsidiary Bayer Pearl Polyurethane Systems llc, United Arab Emirates, pursuant to a contractual agreement with the non-controlling stockholders.

Pure Salt Baytown llc, United States, is fully consolidated as a structured entity. The Bayer Group guarantees the liabilities of Pure Salt Baytown llc to banks. These liabilities, which are reflected in full in the consolidated statement of financial position, amounted to €20 million as of December 31, 2014 (2013: €22 million).

The above table includes the joint operation Lyondell Bayer Manufacturing Maasvlakte vof, Netherlands, as of December 31, 2014 (2013: two joint operations). Pursuant to ifrs 11, Bayer’s shares of these companies’ assets, liabilities, revenues and expenses are included in the consolidated financial statements in accordance with Bayer’s rights and obligations. The main purpose of Lyondell Bayer Manufacturing Maasvlakte vof is the joint production of propylene oxide (po) for Bayer and its partner Lyondell.

Three (2013: two) associates and three (2013: three) joint ventures are accounted for in the consolidated financial statements using the equity method. Details of these companies are given in Note [19].

Nanjing Baijingyu Pharmaceutical Co., Ltd., China, was newly classified as an associate in view of Bayer’s representation on its executive committee and supervisory board. This enables Bayer to exert significant influence over its financial and operating policy decisions despite owning only 15% of its voting rights and capital.

A total of 78 (201379) subsidiaries, including one (2013: one) structured entity and 12 (201314) associates or joint ventures that in aggregate are immaterial to the Bayer Group’s financial position and results of operations are not consolidated but recognized at cost. The immaterial subsidiaries accounted for less than 0.2% of Group sales, less than 0.3% of equity and less than 0.2% of total assets.

Details of subsidiary and affiliated companies pursuant to Section 313 of the German Commercial Code can be accessed at www.annualreport2014.bayer.com/en/companylist.pdfx

The following domestic subsidiaries availed themselves in 2014 of certain exemptions granted under Section 264 Paragraph 3 and Section 264b of the German Commercial Code regarding the preparation, auditing and publication of financial statements:

German Exempt Subsidiaries[Table 4.18]
Company Name Place of Business Bayer’s interest
    %
Adverio Pharma GmbH Schönefeld 100
AgrEvo Verwaltungsgesellschaft mbH Frankfurt am Main 100
Alcafleu Management GmbH & Co. KG Schönefeld 99.9
Bayer 04 Immobilien GmbH Leverkusen 100
Bayer 04 Leverkusen Fußball GmbH Leverkusen 100
Bayer Altersversorgung GmbH Leverkusen 100
Bayer Animal Health GmbH Leverkusen 100
Bayer Beteiligungsverwaltung Goslar GmbH Leverkusen 100
Bayer Business Services GmbH Leverkusen 100
Bayer Chemicals AG Leverkusen 100
Bayer Consumer Care Deutschland GmbH Berlin 100
Bayer CropScience AG Monheim am Rhein 100
Bayer CropScience Biologics GmbH Malchow/Poel Island 100
Bayer CropScience Deutschland GmbH Langenfeld 100
Bayer Direct Services GmbH Leverkusen 100
Bayer Gastronomie GmbH Leverkusen 100
Bayer Gesellschaft für Beteiligungen mbH Leverkusen 100
Bayer HealthCare AG Leverkusen 100
Bayer Innovation GmbH Leverkusen 100
Bayer Intellectual Property GmbH Monheim am Rhein 100
Bayer MaterialScience AG Leverkusen 100
Bayer MaterialScience Customer Services GmbH Leverkusen 100
Bayer MaterialScience GmbH Darmstadt 100
Bayer MaterialScience Oldenburg GmbH & Co. KG Oldenburg 100
Bayer Real Estate GmbH Leverkusen 100
Bayer Schering Pharma AG Berlin 100
Bayer Technology Services GmbH Leverkusen 100
Bayer Vital GmbH Leverkusen 100
Bayer Weimar GmbH und Co. KG Weimar 100
Bayer-Handelsgesellschaft mit beschränkter Haftung Leverkusen 100
BGI Deutschland GmbH Leverkusen 100
Chemion Logistik GmbH Leverkusen 100
Dritte Bayer Real Estate VV GmbH & Co. KG Schönefeld 100
Dritte K-W-A Beteiligungsgesellschaft mbH Leverkusen 100
Epurex Films GmbH & Co. KG Bomlitz 100
Erste Bayer Real Estate VV GmbH & Co. KG Schönefeld 100
Erste K-W-A Beteiligungsgesellschaft mbH Leverkusen 100
Euroservices Bayer GmbH Leverkusen 100
Fünfte Bayer Real Estate VV GmbH & Co. KG Schönefeld 100
Generics Holding GmbH Leverkusen 100
GP Grenzach Produktions GmbH Grenzach-Wyhlen 100
Hild Samen GmbH Marbach am Neckar 100
Intendis GmbH Berlin 100
Intraserv GmbH & Co. KG Schönefeld 100
Jenapharm GmbH & Co. KG Jena 100
KOSINUS Grundstücks-Verwaltungsgesellschaft mbH & Co. Gamma OHG Schönefeld 100
KVP Pharma+Veterinär Produkte GmbH Kiel 100
Marotrast GmbH Jena 100
MENADIER Heilmittel GmbH Berlin 100
Schering-Kahlbaum Gesellschaft mit beschränkter Haftung Berlin 100
Sechste Bayer Real Estate VV GmbH & Co. KG Schönefeld 100
Siebte Bayer VV GmbH Leverkusen 100
Steigerwald Arzneimittelwerk GmbH Darmstadt 100
TECTRION GmbH Leverkusen 100
TravelBoard GmbH Leverkusen 100
Vierte Bayer Real Estate VV GmbH & Co. KG Schönefeld 100
Zweite Bayer Real Estate VV GmbH & Co. KG Schönefeld 100
Zweite K-W-A Beteiligungsgesellschaft mbH Leverkusen 100
Last updated: March 11, 2015  Copyright © Bayer AG
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