THE FIAT GROUP IN - Fiat SpA

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18 Adjustments to financial assets Writedowns of equity investments This item totaled 3,840 thousand euros in 2001 and includes 3,538 thousand euros for writedown to book value of several equity investments and 302 thousand euros for losses in excess of their book value. These include Fiat Se.p.In. S.c.p.a. (1,404 thousand euros), Fiat International S.p.A. (890 thousand euros), Fiat Revi S.c.r.l. (23 thousand euros) and Istituto Europeo di Oncologia S.r.l. (1,221 thousand euros). Writedowns taken in 2000 were mainly attributable to Fiat I&CS S.r.l. (1,487 thousand euros), Fiat Se.p.In. S.c.p.A. (2,803 thousand euros), Isvor Fiat S.p.A. (1,093 thousand euros), Fiat G.S.A. S.r.l. (1,232 thousand euros) and Fiat Revi S.c.r.l. (71 thousand euros). 19 Extraordinary income and expenses Extraordinary income Extraordinary income totaled 69 thousand euros in 2001, and consists of dividends expired. In 2000, the capital gains on the sale of investments were generated by the sale of the subsidiaries Magneti Marelli S.p.A. to Fiat Netherlands Holding N.V. for 370,316 thousand euros, Ingest S.p.A. to Business Solutions S.p.A. for 63 thousand euros, and Belfiore 2001 S.p.A. (formerly Fiat Sagi S.r.l.) to Ingest S.p.A. for 1,700 thousand euros. Extraordinary expenses This account amounted to 856 thousand euros in 2001. For 15 thousand euros they refer to the sale of a 1.24% of the savings shares of Magneti Marelli S.p.A. to Fiat Netherlands Holding N.V. and for 841 thousand euros they consists of provisions for early retirement incentives. In 2000 they mainly consisted of provisions for early retirement incentives (17,225 thousand euros) and other non recurring expenses for employee performance bonuses (4,250 thousand euros). 20 Income taxes Income taxes decreased by 86,779 thousand euros to 197,219 thousand euros in 2001, including 195,865 thousand euros in corporate income taxes and 890 thousand euros for recovery of the regional tax on production activities. The corporate income tax liability is totally offset by the tax credits on dividends, which is included under investment income, amounting to 245,577 thousand euros (263,499 thousand euros in 2000). * * * The costs incurred for the transition to the euro totaled 329 thousand euros in 2001 (279 thousand euros in 2000). They were charged in full to income in the fiscal year. Financial Statements at December 31, 2001 – Notes to the Financial Statements 73 73
74 74 ANALYSIS OF FIXED ASSETS AND SUPPLEMENTAL INFORMATION Cost of fixed assets Gross value at beginning of fiscal year Increases Decreases Disposals, sales and transfers Gross value at end of fiscal year Historical Upward Reclassi- Reclassi- Historical Upward Historical Upward (in thousands of euros) Intangible fixed assets Start-up and expansion costs: Cost of capital increase to 5,005.5 billion lire (Resolution of the Stockholders’ cost adjustments Total fications Purchases fications cost adjustments cost adjustments Total Meeting of 6/26/96) Cost of capital increase to 5,506.05 billion 142 142 (142) – – lire (Board Resolution of 4/24/97) 1,342 1,342 1,342 1,342 Leasehold improvements 651 651 651 651 Concessions, licenses, 2,135 2,135 (142) 1,993 1,993 trademarks and similar rights 764 764 22 4 (1) 789 789 Intangible assets in progress and advances 174 174 76 (22) 228 228 3,073 3,073 22 80 (22) (143) 3,010 3,010 Property, plant and equipment Land and buildings 46,289 918 47,207 2 (426) 45,865 918 46,783 Plant and machinery 10,102 37 10,139 118 10,220 37 10,257 Other fixed assets 9,255 9,255 2,633 (3,563) 8,325 8,325 Construction in progress and advances – – 127 127 127 65,646 955 66,601 2,880 (3,989) 64,537 955 65,492 Gross value at beginning of fiscal year Increases Decreases Gross value at end of fiscal year Permanent Disposals losses in value Sales (in thousands of euros) Historical Upward cost adjustments Total Capital increases, Riclassipurchases fications Historical cost Historical cost Upward adjustments Riclassifications Historical Upward cost adjustments Total Financial fixed assets Investments in: Subsidiaries 8,072,272 38,583 8,110,855 66,656 41 (1,498) (199) – 8,137,272 38,583 8,175,855 Associated companies 36 36 (36) – – Other companies 116,635 116,635 44,117 – (5) 160,747 160,747 8,188,943 38,583 8,227,526 110,773 41 (1,498) (199) – (41) 8,298,019 38,583 8,336,602 Loans to: Subsidiaries 25,823 25,823 25,823 25,823 Associated companies 181 181 (181) – – Other securities: 26,004 26,004 (181) 25,823 25,823 Debt securities 75 75 75 75 75 75 75 75
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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
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10 10 the subsidiaries operating in
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12 12 the exchange rate in effect a
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14 14 the Government or the EU are
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16 16 In particular, with respect t
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18 18 Unconsolidated subsidiaries a
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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 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: 72 72 This item amounted to 1,278 t
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
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
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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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