Notes to the consolidated financial statements (IFRS)

31. RELATED PARTY TRANSACTIONS
 
The related parties of Tieto are its subsidiaries, joint ventures, Board of Directors, President and CEO and the Leadership Team.
 
Transactions and balances with joint ventures
 
EUR million 31 Dec 2014 31 Dec 2013
Sales 14.3 40.2
Purchases 6.1 6.5
Receivables 1.2 3.5
Liabilities 0.2 5.2
     
 
Sales to and purchases from related parties are made on normal market terms and conditions and at market prices.
 
There are no commitments and contingencies on behalf of joint ventures.
 
In the case of some joint ventures, Tieto Corporation has committed together with the other owners to contribute to financing arrangements when necessary, in proportion to ownership and on the basis of the approved strategy plans.
 
Key management compensation
 
Tieto's key management comprises of the Board of Directors, President and CEO and the Leadership Team.
 
See Note 7 in the Notes to the consolidated financial statements.
     
Subsidiaries
     
See page Subsidiary shares in the consolidated financial statements.