[38] Contingent liabilities and other financial commitments
Contingent liabilities
Contingent liabilities break down as follows:
in € million |
Dec. 31, 2020 |
Dec. 31, 2019 |
|---|---|---|
Guarantees and indemnities |
103.3 |
114.9 |
The guarantees and indemnities predominantly relate to default guarantees for pension plans in the United Kingdom (further information can be found in note [29]). In the prior year, this item included a sum of €2.3 million for contingent liabilities assumed jointly with another shareholder of a joint venture.
Litigation
The legal risks arising from the KION Group’s business are typical of those faced by any company operating in this sector. The Group companies are a party in a number of pending lawsuits in various countries. The individual companies cannot assume with any degree of certainty that they will win any of the lawsuits or that the existing risk provision in the form of insurance or provisions will be sufficient in each individual case. However, the KION Group believes it is unlikely that these ongoing lawsuits will require funds to be utilized that exceed the provisions recognized.
Other financial commitments
Other financial commitments break down as follows:
in € million |
Dec. 31, 2020 |
Dec. 31, 2019 |
|---|---|---|
Commitments under long-term licence and support agreements |
117.9 |
121.1 |
Capital expenditure commitments in fixed assets |
57.6 |
66.8 |
Sundry other financial commitments |
1.3 |
1.5 |
Total other financial commitments |
176.7 |
189.4 |
Sundry other financial commitments included future payment obligations to related parties amounting to €1.3 million (December 31, 2019: €1.3 million).