Annual Report 2014 | Suomeksi |

13 Contingent liabilities

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EUR million 2014 2013
On own behalf
Other contingent liabilities 2 3
On behalf of group companies
Guarantees 131 348
On behalf of associated companies
Guarantees 418 417
Contingent liabilities total 551 768
Operating leases
EUR million 2014 2013
Lease payments
Not later than 1 year 4 4
Later than 1 year and not later than 5 years 5 6
Total 9 10
Derivatives
2014 2013
EUR million Contract
or notional
value
Fair value Not
recog‑
nised as income
Contract
or notional
value
Fair value Not
recog‑
nised as income
Forward rate agreements 0 56
Interest rate swaps 5,721 155 160 6,658 105 100
Forward foreign exchange contracts 1)                                                                   14,866 ‑77 ‑1 18,614 ‑39 5
Interest rate and currency swaps 1,473 233 28 928 36 ‑2
1) Includes also future positions.
Fortum Oyj received in December 2013 an income tax assessment regarding transfer pricing for the year 2007. Fortum appealed the decision. In August 2014 The Board of Adjustment of the large Taxpayers' office approved Fortum's appeal. The Tax Recipients' Legal Services Unit within the tax authorities has appealed this decision to the Administrative Court. If the appeal of the Tax Recipients' Legal Services Unit is successful, the impact on net profit would be approximately EUR 136 million for the year 2007. Based on legal analyses, no provision has been recognized in the financial statements.
For more information, see Note 39 Legal actions and official proceedings to the consolidated financial statements.
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