THE FIAT GROUP IN - Fiat SpA

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6 Financial assets not held as fixed assets Investments in other companies Fiat S.p.A. had no investments in other companies at December 31, 2001. This item consisted of 179,420 shares of Assicurazioni Generali S.p.A., of which 135,920 earmarked for the conversion of the 1991-2001 Assicurazioni Generali S.p.A. warrants. The decrease of 753 thousand euros over the figure at the end of 2000 reflects the disposal to warrant holders and to Fiat Ge.Va. S.p.A. Treasury stock This item consists of 2,100,000 ordinary shares with a total par value of 10,500,000 euros, earmarked for the Stock Option Plans. Treasury stock totaled 37,542 thousand euros at December 31, 2001. A breakdown of the net increase by 10,308 thousand euros from December 31, 2000 is provided in the following table: (in thousands of euros) Purchases 26,261 Writedown to market value during the last month of the year (15,953) Net change 10,308 Financial receivables This item totaled 74,799 thousand euros at December 31, 2001, compared with 17,493 thousand euros at the end of 2000. A breakdown is provided below: (in thousands of euros) 12/31/01 12/31/00 Change Subsidiaries Fiat Ge.Va. S.p.A. 64,426 615 63,811 Others Tax Authorities 10,373 16,878 (6,505) Total financial receivables 74,799 17,493 57,306 This item consists of temporary liquidity left on deposit with the subsidiary Fiat Ge.Va. S.p.A. for corporate income tax refunds from 1990 for which Government securities have been requested in lieu of cash. 7 Cash Bank and post office accounts This item, which at the end of the fiscal year amounted to 6,715 thousand euros, showed an increase of 6,553 thousand euros compared with the figure at December 31, 2000. It mainly consists of funds received from T.A.V. S.p.A. after the early release of amounts withheld in guarantee of work progress on the Turin-Milan line, to be paid to the CAV.TO.MI consortium upon its release of the relative performance bond. Checks This item, which at the end of the fiscal year amounted to 1,615 thousand euros, showed an increase by that amount compared with the figure at December 31, 2000. It consists of promissory notes issued by the Banca d’Italia in refund of the registration tax not owed on the capital increase of 1990. Cash on hand At December 31, 2001, cash on hand totaled 1 thousand euros, unchanged from the end of 2000. Financial Statements at December 31, 2001 – Notes to the Financial Statements 61 61
62 62 8 Accrued income and prepaid expenses Accrued income At 80 thousand euros, accrued income showed a net decrease of 334 thousand euros from the amount at December 31, 2000. It consists of accrued interest on the items listed in the following table: (in thousands of euros) 12/31/01 12/31/00 Change Due from the Tax Authorities 79 361 (282) Due from Group employees for sales of houses – 52 (52) Other items 1 1 – Total accrued income 80 414 (334) Prepaid expenses This item, which at the end of the fiscal year amounted to 6,049 thousand euros, showed an increase of 2,850 thousand euros compared with the figure at December 31, 2000. It resulted from increased interest for discounting of VAT receivables during the fiscal year and in a decrease upon transfer to the statement of operations of the allocable portion of interest for discounting of receivables in previous years. They include: (in thousands of euros) 12/31/01 12/31/00 Change Interest on the disposal of receivables due from Tax Authorities 5,501 2,489 3,012 Other operating costs 548 710 (162) Total prepaid expenses 6,049 3,199 2,850 9 Stockholders’ Equity Capital stock At December 31, 2001, the fully paid-in capital stock totaled 2,753,025 thousand euros, and consists of 550,605,000 shares, broken down as follows: ❚ 367,399,890 ordinary shares, totaling 1,836,999 thousand euros ❚ 103,292,310 preference shares, totaling 516,462 thousand euros, and ❚ 79,912,800 savings shares, totaling 399,564 thousand euros. All classes of shares have a par value of 5 euros each. It should be noted that, in accordance with the provisions of Articles 2420 ter and 2443 of the Italian Civil Code, the Stockholders’ Meeting of June 22, 1998 authorized the Board of Directors to increase the capital stock, on a contributory or on a noncontributory basis, in a single transaction, or repeatedly over a maximum period of 5 years, up to a maximum of 10,000 billion lire, redefined in the amount of 5,000 million euros by the Stockholders’ Meeting of June 23, 1999, and either in a single transaction or on repeated occasions, to issue bonds or convertible bonds up to the same maximum amount, but without exceeding in any one transaction the limits set forth by law. Capital increases authorized by the Board of Directors as of today total 438,909 thousand euros, and consist of 411,379 thousand euros for the capital increase approved on December 10, 2001 and 27,530 thousand euros for capital increases to service stock option plans. Treasury stock valuation reserve The treasury stock valuation reserve totaled 37,542 thousand euros at December 31, 2001, with a net increase of 10,308 thousand euros from the prior year. The change comes from the difference between the increase of 26,261 thousand euros for the transfer from the reserve for purchases of treasury stock of the equivalent amount of the stock purchased during 2001 and a decrease of 15,953 thousand euros for the writedown of the stock to market value during the last month of the year.
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THE FIAT GROUP IN 2001 Consolidated
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Financial Highlights of the Fiat Gr
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2 2 Consolidated Balance Sheet ❚
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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 and 28: 24 24 Financial receivables amount
Page 29 and 30: 26 26 Retained earnings and Other r
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: 60 60 The latter advance was paid p
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 103 and 104: 100 100 Subsidiaries consolidated o
Page 111 and 112: 108 108 Subsidiaries valued by the
Page 113 and 114: 110 110 Subsidiaries valued at cost
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112 112 Subsidiaries valued at cost
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118 118 Associated companies valued
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120 120 Associated companies valued
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122 122 Other companies valued at c
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124 124 Report of the Independent A
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126 126 Report of the Board of Stat
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The Fiat Group in 2001 Balance Shee
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THE FIAT GROUP IN - Fiat SpA

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