In light of Kenon's strategy and Qoros' limited liquidity, Kenon increased the amount of the back-to-back guarantee obligations to Chery recorded on its statement of financial position to $160 million as of June 30, 2016. As a result, Kenon recorded a $129 million provision of financial guarantees on its statement of profit or loss in Q2 2016. There was no change to Kenon's guarantee obligation to Chery as a result of the increase in the amount recorded in the balance sheet for the guarantee.