Other financial obligations, financial guarantees and contingent liabilities

In the context of its ordinary business operations, the Group has entered into other financial obligations in addition to the liabilities shown in the consolidated balance sheet at December 31, 2014. Table B.28 provides an overview of the nominal amounts of other financial obligations. With regard to their maturities, we refer to note 30 (Financial guarantees, contingent liabilities and other financial commitments) and note 32 (Management of financial risks) of the Notes to the Consolidated Financial Statements.

B.28

Other financial obligations (nominal amounts)
  Dec. 31, 2014 Dec. 31, 2013
In millions of euros    
     
Obligations from purchasing agreements 9,769 9,771
Non-terminable rental and leasing agreements 2,157 1,980
Irrevocable loan obligations 1,320 1,508
Miscellaneous other financial obligations 2,318 1,356
Other financial obligations 15,564 14,615

Within the context of financial guarantees, Daimler generally guarantees the settlement of the payment obligations of the main debtor vis-à-vis the holder of the guarantee. The maximum potential obligation resulting from these guarantees amounts to €0.8 billion at December 31, 2014 (end of 2013: €0.8 billion); liabilities recognized in this context amount to €0.1 billion at the end of the year (end of 2013: €0.1 billion). In connection with the Chrysler transaction entered into 2007 and 2009, Daimler provides guarantees for Chrysler obligations; at December 31, 2014, those guarantees amounted to €0.3 billion, whereby Chrysler provided €0.2 billion on an escrow account as collateral for the guaranteed obligations. Another financial guarantee of €0.1 billion relates to bank loans of Toll Collect GmbH, the operator company of the toll-collection system for trucks in Germany. Other risks arise from an additional guarantee that the Group provided for obligations of Toll Collect GmbH to the Federal Republic of Germany. This guarantee is related to the completion and operation of the toll-collection system. A claim on this guarantee could primarily arise if for technical reasons toll revenue is lost or if certain contractually defined parameters are not fulfilled, if the Federal Republic of Germany makes additional claims or if the final operating permit is not granted. Furthermore, arbitration proceedings have been initiated against the Group. The maximum obligation that could result from this guarantee is substantial, but cannot be reliably estimated.

The contingent liabilities principally constitute buyback obligations. At December 31, 2014, the best possible estimate for the loss risk from these guarantees amounted to €1.2 billion (2013: €1.0 billion). Warranty and goodwill commitments (product guarantees) provided by the Group in connection with its vehicle sales are not included in the contingent liabilities. Contingent liabilities also include other contingent liabilities. The best possible estimate for potential expenses from the other contingent liabilities is €0.4 billion (December 31, 2013: €0.4 billion).

Your position