THE FIAT GROUP IN - Fiat SpA

14 Memorandum accounts
Guarantees granted
(in millions of euros) At 12/31/2001 At 12/31/2000
Guarantees granted
Unsecured guarantees
Suretyships:
on behalf of unconsolidated subsidiaries 26 30
on behalf of associated companies 29 72
on behalf of others 1,397 1,404
Total Suretyships 1,452 1,506
Guarantees of notes:
on behalf of others 229 161
Total Guarantees of notes 229 161
Other unsecured guarantees:
on behalf of unconsolidated subsidiaries 22 –
on behalf of associated companies 508 427
on behalf of others 2,939 2,164
Total Other unsecured guarantees 3,469 2,591
Total Unsecured guarantees 5,150 4,258
Secured guarantees
on behalf of unconsolidated subsidiaries – 56
on behalf of others 471 342
Total Secured guarantees 471 398
Total Guarantees granted 5,621 4,656
At December 31, 2001 Guarantees granted by the Group totaled 5,621 million euros (4,656 million euros at December 31, 2000),
detailed as follows:
❚ Suretyships total 1,452 million euros (1,506 million euros at December 31, 2000) and mostly guarantee the successful
completion of contracts in progress;
❚ Other unsecured guarantees of 3,469 million euros (2,591 million euros at December 31, 2000) include commitments for
receivables and bills discounted with recourse in the amount of 2,629 million euros (1,806 million euros at December 31,
2000). The receivables and bills discounted with recourse refer to trade receivables and other receivables for 2,473 million
euros (1,725 million euros at December 31, 2000) and financial receivables for 156 million euros (81 million euros at December
31, 2000). The volume of receivables discounted with recourse in 2001 was 9,593 million euros (4,025 million euros in 2000).
Although not included in the memorandum accounts, receivables and bills discounted by the Group without recourse having due
dates beyond December 31, 2001 amounted to 13,372 million euros (in 2000, 11,719 million euros with due dates beyond
December 31, 2000). Receivables and bills discounted without recourse refer to trade receivables and other receivables for 4,859
million euros (5,259 million euros at December 31, 2000) and financial receivables for 8,513 million euros (6,460 million euros at
December 31, 2000). The discounting of financial receivables principally refers to securitization transactions involving accounts
receivables from the final (retail) customers of the financial services companies. The accounting treatment for securitization
transactions is disclosed in the Accounting Principles. The volume of receivables and bills discounted without recourse in 2001
was 29,593 million euros (20,351 million euros in 2000).
The Parent Company and certain of its subsidiaries are involved in various legal actions and disputes. However, the settlement of
such actions and disputes should not give rise to significant losses or liabilities which have not already been set aside in specific
risk reserves.
Consolidated Financial Statements at December 31, 2001 – Notes to the Consolidated Financial Statements 31
31