THE FIAT GROUP IN - Fiat SpA

3 Financial fixed assets
Investments
Change in Acquisitions Foreign Disposals
Value at Equity in Equity in the scope of and exchange and Other Value at
(in millions of euros) 12/31/2000 earnings losses consolidation Capitalizations effects changes 12/31/2001
Unconsolidated subsidiaries 758 64 (67) (166) 30 12 3 634
Associated companies 1,778 81 (192) 1,329 1,187 (13) (212) 3,958
Other companies 4,764 34 (66) (59) 181 3 (65) 4,792
Total Investments 7,300 179 (325) 1,104 1,398 2 (274) 9,384
Equity in earnings and Equity in losses include the Group’s share of the income or the loss of companies accounted for using the
equity method.
Change in the scope of consolidation (increase of 1,104 million euros) is due to:
❚ Investments in unconsolidated subsidiaries (-166 million euros): PTC Holdings do Brasil Ltda (-250 million euros) contributed to
the Fiat-GM Powertrain B.V. Group, EEA S.c.r.l. (-16 million euros) consolidated line-by-line in 2001, Leasys S.p.A. (89 million
euros), and other minor subsidiaries (11 million euros);
❚ Investments in associated companies (1,329 million euros): the increase is due to FIAT-GM Powertrain B.V. (1,276 million euros)
which came into operation upon the contribution of activities on the part of Fiat and GM, Consolidated Diesel Company (74
million euros), Global Value Services S.p.A. (32 million euros), Augusta Vita S.p.A. (-67 million euros) consolidated line-by-line in
the Insurance Sector, and other minor companies (14 million euros);
❚ Investments in other companies (-59 million euros).
Acquisitions and Capitalizations (1,398 million euros) refer principally to the following acquisitions and capitalizations:
❚ Investments in unconsolidated subsidiaries (30 million euros): Teksid Aluminum Components Inc. (8 million euros), New City Car
S.A. (8 million euros), other minor subsidiaries (14 million euros);
❚ Investments in associated companies (1,187 million euros): Italenergia S.p.A. (1,065 million euros), Banca di Roma S.p.A. (53
million euros), Atlanet S.p.A. (35 million euros), CBC-Iveco Ltd. (11 million euros) and other minor companies (23 million euros);
❚ Investments in other companies (181 million euros): this item includes investments made by the insurance companies in mutual
funds and investment holdings (120 million euros) and miscellaneous investments made by Group companies (61 million euros).
Investments, by type of consolidation method, are analyzed as follows:
(in millions of euros) At 12/31/2001 At 12/31/2000
Investments accounted for using the equity method 4,501 2,409
Investments valued on a cost basis:
listed companies 2,694 2,720
unlisted companies 2,189 2,171
Total Investments valued at cost 4,883 4,891
Total Investments 9,384 7,300
The significant increase (2,092 million euros) in investments accounted for on the equity method mostly refers to investments in
Fiat-GM Powertrain B.V. (1,259 million euros) and Italenergia S.p.A. (1,034 million euros).
Consolidated Financial Statements at December 31, 2001 – Notes to the Consolidated Financial Statements 17
17