8.5. Contingent assets and liabilities
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| Contingent liability | 2016 | 2015 |
|---|---|---|
| Estimated amount | ||
| Guarantees and sureties | 8,006 | 7,711 |
| Promissory notes | 708 | 1,435 |
| Other | 28 | 27 |
| Total | 8,742 | 9,173 |
The increase in contingent liabilities under guarantees and sureties at the end of 2016 followed mainly from the weakening of the Polish złoty against the currencies of denomination of most of the guarantees and sureties (USD, EUR, NOK). The decrease in contingent liabilities under promissory notes was caused by termination of co-financing agreements which had been secured with the promissory notes.
An analysis of the probability of consumption of economic benefits as at the reporting date showed that as at the end of 2016 the PGNiG Group’s contingent assets did not represent a material item.
Chapter list
- 8.1. Share capital and share premium
- 8.2. Earnings per share
- 8.3. Assets held for sale
- 8.4. Other assets
- 8.5. Contingent assets and liabilities
- 8.6. Joint operations
- 8.7. Changes in the Group structure in the reporting period
- 8.8. Business combinations
- 8.9. Other important information
- 8.10. Events subsequent to the end of the reporting period
