THE FIAT GROUP IN - Fiat SpA

More documents

Recommendations

Info

9 Stockholders’ equity Statement of changes in Stockholders’ equity of the Group Retained Treasury earnings, Other Additional stock Cumulative reserves, Net paid-in Legal valuation translation income (loss) (in millions of euros) Capital stock capital reserve reserve adjustments for the year Total Balance at December 31, 1998 Dividends paid (0.620 euros per ordinary and preference 2,844 1,636 569 124 313 7,512 12,998 share and 0.775 euros per savings share) (*) – – – – – (350) (350) Emoluments to Directors – – – – – (4) (4) Foreign exchange translation adjustments – – – – (79) – (79) Sale of treasury stock in portfolio – – – (97) – 97 – Translation of capital stock in euros (91) – 90 – – 1 – Other minor movements – – – – – (44) (44) Net income (loss) – – – – – 353 353 Balance at December 31, 1999 Dividends paid (0.620 euros per ordinary and preference 2,753 1,636 659 27 234 7,565 12,874 share and 0.775 euros per savings share) – – – – – (352) (352) Foreign exchange translation adjustments – – – – 136 – 136 Change in treasury stock in portfolio – – – 23 – (23) – Other minor movements – – – – – (2) (2) Net income (loss) – – – – – 664 664 Balance at December 31, 2000 2,753 1,636 659 50 370 7,852 13,320 Dividends paid (0.620 euros per ordinary and preference share and 0.775 euros per savings share) – – – – – (352) (352) Foreign exchange translation adjustments – – – – (342) – (342) Change in treasury stock in portfolio – – – 232 – (232) – Other minor movements – – – – – (11) (11) Net income (loss) – – – – – (445) (445) Balance at December 31, 2001 2,753 1,636 659 282 28 6,812 12,170 (*) The above dividends per share are translated in euros using the fixed exchange rate established on December 31, 1998 of Euro 1 = Lire 1,936.27 and takes into account the reverse stock split which took place in 1999. Capital stock The capital stock paid in at December 31, 2001 is 2,753 million euros, equal to No. 550,605,000 shares, and consists of: ❚ 367,399,890 ordinary shares ❚ 103,292,310 preference shares ❚ 79,912,800 savings shares, all with a par value of 5 euros each. On June 23, 1999, the Stockholders’ Meeting approved the redenomination of the capital stock into euros. The par value of the 5,506,050,000 shares outstanding, equivalent to 0.52 euros each, was rounded down to 0.5 euros. As a result, the value of the capital stock decreased by 91 million euros and this amount was transferred to the legal reserve. A subsequent reverse stock split, carried out by exchanging 10 shares with a par value of 0.5 euros each for one share with a par value of 5 euros, reduced the number of shares to 550,605,000. Legal reserve The legal reserve amounts to 659 million euros at December 31, 2001 and did not change in respect of December 31, 2000. At December 31, 2001, the legal reserve exceeds one-fifth of capital stock. Cumulative translation adjustments Cumulative translation adjustments of 28 million euros decreased by 342 million euros from December 31, 2000 mainly as a result of the devaluation of the Argentine peso and the Brazilian real. Consolidated Financial Statements at December 31, 2001 – Notes to the Consolidated Financial Statements 25 25
26 26 Retained earnings and Other reserves Retained earnings and Other reserves include not only the undistributed earnings of the consolidated companies, but also monetary revaluation reserves and other reserves in suspension of taxes. Reconciliation to Stockholders’ equity and Net income of the Parent company Fiat S.p.A. Stockholders’ Net Stockholders’ Net equity at income equity at income (in millions of euros) 12/31/2001 2001 12/31/2000 2000 Statutory financial statements of Fiat S.p.A. Elimination of carrying value of consolidated investments and the related 7,169 379 7,143 692 dividend income recorded in the statutory financial statements of Fiat S.p.A. (7,550) (465) (7,488) (490) Equity and results of operations of consolidated companies 12,699 (373) 13,879 937 Consolidation adjustments: Elimination of intra-Group dividends Elimination of intra-Group profit and losses in inventories, – (169) – (193) investments, property, plant and equipment and other adjustments (148) 183 (214) (282) Consolidated financial statements 12,170 (445) 13,320 664 Minority interest The minority interest in stockholders’ equity of 1,437 million euros (1,889 million euros at December 31, 2000) refers to the following companies consolidated on a line-by-line basis: At 12/31/2001 At 12/31/2000 (% held by (% held by minority minority stockholders) stockholders) Italian companies: IPI S.p.A. 34.1 34.0 Toro Assicurazioni S.p.A. – 0.5 Foreign companies: CNH Global N.V. 15.4 15.4 Fiat Auto Holdings B.V. 20.0 20.0 Fiat Hitachi Ex. Deutschland GmbH 30.0 30.0 Iveco Ford Truck Ltd. 15.2 15.2 Magneti Marelli Denso S.A. – 49.0 10 Reserves for risks and charges (in millions of euros) At 12/31/2001 At 12/31/2000 Change Reserve for pensions and similar obligations 1,465 1,515 (50) Income tax reserves: Current income tax reserve 170 134 36 Deferred income tax reserve 1,438 1,042 396 Total Income tax reserves 1,608 1,176 432 Other reserves: Warranty reserve 877 1,008 (131) Restructuring reserves 688 953 (295) Various liabilities and risk reserves 2,233 2,616 (353) Total Other reserves 3,798 4,577 (779) Consolidation reserve for future risks and charges – 32 (32) Insurance policy liabilities and accruals 15,802 12,616 3,186 Total Reserves for risks and charges 22,673 19,916 2,757
Page 1 and 2: THE FIAT GROUP IN 2001 Consolidated
Page 3 and 4: Financial Highlights of the Fiat Gr
Page 5 and 6: 2 2 Consolidated Balance Sheet ❚
Page 11 and 12: 8 8 Consolidated Statement of Opera
Page 13 and 14: 10 10 the subsidiaries operating in
Page 15 and 16: 12 12 the exchange rate in effect a
Page 17 and 18: 14 14 the Government or the EU are
Page 19 and 20: 16 16 In particular, with respect t
Page 21 and 22: 18 18 Unconsolidated subsidiaries a
Page 23 and 24: 20 20 Receivables At 12/31/2001 At
Page 25 and 26: 22 22 5 Receivables An analysis of
Page 27: 24 24 Financial receivables amount
Page 31 and 32: 28 28 Other reserves Restructuring
Page 33 and 34: 30 30 Less From 5% From 7.5% From 1
Page 35 and 36: 32 32 Commitments (in millions of e
Page 37 and 38: 34 34 15 Value of production Revenu
Page 39 and 40: 36 36 Other operating costs (in mil
Page 41 and 42: 38 38 The balance of Interest incom
Page 43 and 44: 40 40 20 Income taxes Income taxes
Page 45 and 46: 42 42 Research and development expe
Page 47 and 48: 44 44 Reconciliation of Net Income
Page 49 and 50: 46 46 23 Translation of foreign fin
Page 51 and 52: 48 48 Balance Sheet ❚ ASSETS Dece
Page 53 and 54: 50 50 Balance Sheet ❚ MEMORANDUM
Page 55 and 56: 52 52 Statement of Operations ADJUS
Page 57 and 58: 54 54 Receivables and payables deno
Page 59 and 60: 56 56 Depreciation taken in 2001 wa
Page 61 and 62: 58 58 Decreases include: (in thousa
Page 63 and 64: 60 60 The latter advance was paid p
Page 65 and 66: 62 62 8 Accrued income and prepaid
Page 67 and 68: 64 64 The table below shows the cha
Page 69 and 70: 66 66 12 Payables Borrowings from b
Page 71 and 72: 68 68 14 Memorandum accounts Unsecu
Page 73 and 74: 70 70 16 Costs of production Raw ma
Page 75 and 76: 72 72 This item amounted to 1,278 t
Page 77 and 78: 74 74 ANALYSIS OF FIXED ASSETS AND
Page 79 and 80:
76 76 Art. 10, Law No. 72 of March
Page 81 and 82:
78 78 List of investments (continue
Page 83 and 84:
80 80 List of investments (continue
Page 85 and 86:
82 82 Treasury stock at December 31
Page 87 and 88:
84 84 Analysis of cash flow (in tho
Page 89 and 90:
86 86 Stock options granted to Dire
Page 91 and 92:
88 88 The Companies of the Fiat Gro
Page 93 and 94:
90 90 Subsidiaries consolidated on
Page 95 and 96:
Page 97 and 98:
Page 99 and 100:
Page 101 and 102:
Page 103 and 104:
100 100 Subsidiaries consolidated o
Page 105 and 106:
Page 107 and 108:
Page 109 and 110:
Page 111 and 112:
108 108 Subsidiaries valued by the
Page 113 and 114:
110 110 Subsidiaries valued at cost
Page 115 and 116:
Page 117 and 118:
Page 119 and 120:
Page 121 and 122:
118 118 Associated companies valued
Page 123 and 124:
120 120 Associated companies valued
Page 125 and 126:
122 122 Other companies valued at c
Page 127 and 128:
124 124 Report of the Independent A
Page 129 and 130:
126 126 Report of the Board of Stat
Page 131:
The Fiat Group in 2001 Balance Shee
show all

THE FIAT GROUP IN - Fiat SpA

Create successful ePaper yourself

Delete template?

Save as template?