THE FIAT GROUP IN - Fiat SpA

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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.