Group Management Report Corporate Governance Environment, Safety, and Corporate Social Responsibility Consolidated Financial Statements 137 Members of the Boards of ALTANA AG and SKion GmbH, the sole shareholder of the Com- pany, as well as their close family members are considered related parties. Apart from the compensation as disclosed in note 30 and the regular dividends distributed to SKion GmbH no other business relationship existed. Mrs. Susanne Klatten is the sole shareholder of SKion GmbH and deputy chairwoman of the Supervisory Board of ALTANA AG. Mrs. Klatten is also shareholder and member of the Supervisory Board of Bayerische Motoren Werke AG (BMW). In 2015 and 2014, ALTANA purchased or leased company cars from the BMW Group. The lease and purchase contracts were all concluded at arm’s length. Associated companies in which ALTANA holds an ownership interest but which are not included in the consolidated financial statements and investments in associates accounted for at equity are also considered related parties. Receivables and liabilities resulting from trans- actions with those related parties are reported in other assets and other liabilities. The following table presents all balances and transactions with related parties: Dec. 31, 2014 Dec. 31, 2015 Balances due from related parties 4 0 Balances due to related parties 56 312 2014 2015 Related party transactions Sales 306 417 Services and goods acquired 1,247 1,436 Lease expense 2,783 2,764 The lease expense relates to leasing contracts for company cars with Alphabet Fuhrpark- management GmbH (BMW Group). In 2015 and 2014, further transactions with BMW Group are included in revenues in the amount of € 0.3 million and € 0.2 million, respectively. The compensation of the Supervisory Board is governed in section 18 of ALTANA AG’s articles of association. The amount of the compensation is related to the tasks and responsibilities of the Supervisory Board members and to the size and economic success of the Company. The compensation is comprised of a fixed and a variable component. The variable component is determined based on the operating income (EBIT) of ALTANA. The amount of the compensation of the Management Board members of ALTANA AG is related to the size of the Company, to its economic and financial situation, as well as to the amount and structure of the management board compensation in comparable compa- nies. In addition, the scope of duties, the experience and the contribution of the respective 29. Related Party Transactions 30. Compensation of the Supervisory Board and Management Board
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