16 Contingencies and liabilities not included in the balance sheet

The annual costs arising from existing lease obligations at the end of 2016 (other than liabilities with respect to lease contracts valued in the balance sheet regarding investment property) amounted to EUR 17.9 million (2015: EUR 8.8 million). In addition, the company and its subsidiaries have extended securities to third parties by means of bank and other guarantees to the sum of EUR 13.3 million (2015: EUR 36.2 million).

At the end of 2016, Q-Park NV, including its group companies, was involved in various legal proceedings and disputes. Based on an assessment of financial risk for the claims received, provisions have been taken or the financial consequences have been accounted for in the annual accounts, as far as is deemed necessary.