Note I: Contingent liabilities
Akzo Nobel N.V. is parent of the group’s fiscal unit in the Netherlands, and is therefore liable for the liabilities of said fiscal unit as a whole.
Akzo Nobel N.V. has declared in writing that it accepts joint and several liability for contractual debts of certain Dutch consolidated companies (section 403 of Book 2 of the Netherlands Civil Code). These debts, at year-end 2013, aggregating €0.6 billion (2012: €0.5 billion), are included in the consolidated balance sheet. Additionally, at year-end 2013, guarantees were issued on behalf of consolidated companies for an amount of €2.4 billion (2012: €2.9 billion).
The debts and liabilities of the consolidated companies underlying these guarantees are included in the consolidated balance sheet or in the amount of long-term liabilities in respect of operational lease contracts as disclosed in Note 20 of the consolidated financial statements. Guarantees relating to associates and joint ventures amounted to €9 million (2012: €10 million).