Note 16-Commitments and Contingencies Commitments In the normal course of business, the Company may provide certain clients, principally governmental entities, with financial performance guarantees, which are generally backed by stand-by letters of credit or surety bonds. In general, the Company would only be liable for the amounts of these guarantees in the event that nonperformance by the Company permits termination of the related contract by the Company's client. As of December 30, 2011, the Company had $254 million of outstanding letters of credit and surety bonds relating to these performance guarantees. The Company believes it is in compliance with its performance obligations under all service contracts for which there is a financial performance guarantee, and the ultimate liability, if any, incurred in connection with these guarantees will not have a material adverse affect on its consolidated results of operations or financial position. The Company also uses stand-by letters of credit, in lieu of cash, to support various risk management insurance policies. These letters of credit represent a contingent liability and the Company would only be liable if it defaults on its payment obligations towards these policies. As of December 30, 2011, the Company had $71 million of outstanding stand-by letters of credit. The Company also guarantees working capital lines of credit for certain of its non-U.S. business units with local financial institutions. Generally, such guarantees have a one-year term and are renewed annually. The following table summarizes the expiration of the Company's financial guarantees and stand-by letters of credit outstanding as of December 30, 2011: (Amounts in millions) Fiscal 2012 Fiscal 2013 Fiscal 2014 and thereafter Total Performance guarantees: Surety bonds $ 1 $ 30 $ - $ 31 Letters of credit 179 30 14 223 Stand-by letters of credit 11 50 10 71 Foreign subsidiary debt guarantees - 786 - 786 Total $ 191 $ 896 $ 24 $ 1,111 The Company generally indemnifies licensees of its proprietary s