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Scope of consolidation

The consolidated interim financial statements of the LANXESS Group include the parent company LANXESS AG along with all of its domestic and foreign subsidiaries.

Scope of consolidation
             
  EMEA (excl. Germany) Germany North America Latin America Asia-Pacific Total
             
Fully consolidated companies (incl. parent company)
Jan. 1, 2012 20 13 7 6 17 63
Additions   1 1     2
Mergers   (1) (2)     (3)
Changes in scope of consolidation 1         1
Sep. 30, 2012 21 13 6 6 17 63
             
Non-consolidated companies
Jan. 1, 2012   1     2 3
Changes           0
Sep. 30, 2012 0 1 0 0 2 3
             
Non-consolidated companies
Jan. 1, 2012 5 2 1 3 0 11
Changes         1 1
Changes in scope of consolidation (1)         (1)
Sep. 30, 2012 4 2 1 3 1 11
             
Total
Jan. 1, 2012 25 16 8 9 19 77
Additions 0 1 1 0 1 3
Mergers 0 (1) (2) 0 0 (3)
Sep. 30, 2012 25 16 7 9 20 77

On March 14, 2012, LANXESS acquired all of the shares of Tire Curing Bladders, LLC, Little Rock, United States. The company was assigned to the Rhein Chemie business unit in the Performance Chemicals segment and has broadened the product portfolio.

On September 12, 2012, LANXESS also acquired all of the shares of Bond-Laminates GmbH of Brilon, Germany. First-time inclusion in the consolidated interim financial statements was effected from that date. The acquisition was funded from existing liquidity of the LANXESS Group. The company was assigned to the High Performance Materials business unit in the Performance Polymers segment. With the acquisition, LANXESS is strengthening, in particular, its innovative portfolio of lightweight materials for the automotive industry.

The acquisitions were accounted for as business combinations in accordance with IFRS 3.

Thus, in allocating the purchase price, the acquiree’s identifiable assets, liabilities and contingent liabilities were included at fair value. The purchase price allocation is provisional and was carried out with the assistance of external experts and in light of the information available at and immediately after the date of acquisition. According to IFRS, it can be adjusted within one year after the date of acquisition to reflect new information and findings.

The following table shows effects from the acquisitions discussed, neither of which, either individually or on aggregate, materially impacted the Group’s financial position.

Additions from Acquisitions
       
€ million IFRS carrying amounts prior to first-time consolidation Purchase price allocation Carrying amounts upon first-time consolidation
       
Intangible assets 0 23 23
Property, plant and equipment 6 1 7
Other assets 8 0 8
Total assets 14 24 38
       
Non-current liabilities 2 7 9
Current liabilities 6 0 6
Total liabilities 8 7 15
Net acquired assets (excluding goodwill) 6 17 23
       
Acquisition costs     41
Acquired goodwill (provisional valuation)     18

The acquired activities did not materially impact Group sales or earnings, nor would they have done so if the businesses had already been consolidated from January 2012.

First-time consolidation of the Darmex group, which was acquired in the previous year, was effected as of January 11, 2011. The material protection business acquired from Syngenta AG was consolidated effective April 13, 2011. First-time inclusion of the elastomers business acquired from Dutch company Royal DSM N.V. was effected as of May 2, 2011. In the respective twelve-month periods since the dates of these three acquisitions, there were no new findings or information warranting adjustment of the provisional purchase price allocations. These allocations are therefore final.

Goodwill increased by €1 million as of September 30, 2012 due to adjustments in the purchase price allocations for the other acquisitions made in 2011.

Details of these acquisitions and their effects on the LANXESS Group’s consolidated statement of financial position are provided in the section entitled “Companies Consolidated” in the notes to the consolidated financial statements as of December 31, 2011.

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