Fiat Group - Consolidated Financial Statements and Notes - Fiat SpA

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178 Consolidated Financial Statements at 31 December 2011 Notes In 2011 and 2010, changes in the net carrying amount of Property, plant and equipment were as follows: (€ million) At 31 December 2010 (*) Additions Depreciation Impairment losses Divestitures Change in the scope of consolidation Translation differences Other changes At 31 December 2011 Land 365 24 - - (10) 310 21 9 719 Owned industrial buildings Industrial buildings leased under 1,967 235 (189) (35) (15) 1,825 131 20 3,939 finance leases 47 - (2) - (1) - - (1) 43 Total Industrial buildings 2,014 235 (191) (35) (16) 1,825 131 19 3,982 Owned plant, machinery and equipment Plant, machinery and equipment 5,588 1,456 (1,640) (281) (4) 3,188 132 829 9,268 leased under finance leases 275 37 (30) (4) (26) - (2) 4 254 Total Plant, machinery and equipment 5,863 1,493 (1,670) (285) (30) 3,188 130 833 9,522 Other tangible assets 416 589 (684) (2) (105) 3,147 302 230 3,893 Advances and tangible assets in progress 943 1,584 - (1) (72) 1,201 122 (1,108) 2,669 Net carrying amount 9,601 3,925 (2,545) (323) (233) 9,671 706 (17) 20,785 At 31 Change in Reclass.to At 31 December Impairment the scope of Translation Other Discontinued December (€ million) 2009 Additions Depreciation losses Divestitures consolidation differences changes Operations 2010 (*) Land 603 2 - (2) (2) - 13 (41) (208) 365 Owned industrial buildings Industrial buildings leased under 2,746 99 (182) (59) (3) 7 87 171 (899) 1,967 finance leases 59 - (2) - - - - (1) (9) 47 Total Industrial buildings 2,805 99 (184) (59) (3) 7 87 170 (908) 2,014 Owned plant, machinery and equipment Plant, machinery and equipment 6,510 1,098 (1,548) (73) (9) 88 227 789 (1,494) 5,588 leased under finance leases 236 107 (44) - - - - 12 (36) 275 Total Plant, machinery and equipment 6,746 1,205 (1,592) (73) (9) 88 227 801 (1,530) 5,863 Assets sold with a buy-back commitment 910 344 (131) (26) (63) - 4 (167) (871) - Other tangible assets 504 224 (136) (3) (96) 11 20 37 (145) 416 Advances and tangible assets in progress 1,377 730 - (4) (14) 7 50 (1,009) (194) 943 Net carrying amount 12,945 2,604 (2,043) (167) (187) 113 401 (209) (3,856) 9,601 (*) The amounts relate to Continuing Operations.
Additions of €3,925 million in 2011 mainly relate to the Chrysler sector for the seven month period June-December 2011 and the sectors Fiat Group Automobiles, Magneti Marelli and Fiat Powertrain. During 2011, the Group reviewed the recoverable amount of certain buildings, plant, machinery and industrial equipment as a result of the process of updating the economic valuations and estimates carried out during the year of certain assets in the Magneti Marelli and Teksid sectors, and recognised an impairment loss totalling €103 million, discussed in Note 14. The Fiat Group Automobiles sector recognised a further impairment loss of €200 million in connection with the above-mentioned process for the strategic realignment of manufacturing and commercial activities with Chrysler, classified as Other unusual income (expenses). In 2011 the overall increase of €9,671 million in Change in the scope of consolidation mainly reflects the consolidation of Chrysler. In 2010 the overall increase of €113 million in this item mainly reflected the line-by-line consolidation of Fiat Powertrain Polska Sp.z o.o. In 2011 exchange gains of €706 million reflect the appreciation of the US Dollar against the Euro from the end of May when Chrysler was consolidated for the first time, partially offset by the depreciation of the Brazilian Real and the Polish Zloty against the Euro. In 2010 exchange gains of €401 million principally reflect the appreciation of the US Dollar, the Brazilian Real and the Polish Zloty against the Euro. In 2011 Other changes mainly consist of the reclassification of the prior year balances for Advances and tangible assets in progress to the respective categories when the assets were acquired and entered service. At 31 December 2011, property, plant and equipment of the Fiat Group excluding Chrysler pledged as collateral for loans, which mainly relates to assets that are legally owned by suppliers but are recognised in the consolidated financial statements in accordance with IFRIC 4 with the corresponding recognition of a financial lease payable, were as follows: (€ million) At 31 December 2011 At 31 December 2010 (*) Land and industrial buildings of pledged as security for debt 50 128 Plant and machinery pledged as security for debt and other commitments 260 282 Other assets pledged as security for debt and other commitments 7 7 Property plant and equipment pledged as security for debt (*) The amounts relate to Continuing Operations. 317 417 The amount of property plant and equipment of the Chrysler sector at 31 December 2011 is €11,050 million. Substantially all the property, plant and equipment of Chrysler Group LLC and its U.S. subsidiary guarantors are pledged as securities for Chrysler’s outstanding debt. At 31 December 2011, the Group had contractual commitments for the purchase of Property, plant and equipment amounting to €965 million (€697 million at 31 December 2010 for Continuing Operations). 179 Consolidated Financial Statements at 31 December 2011
Page 1 and 2: Fiat Group Consolidated Financial S
Page 3 and 4: Consolidated Statement of Comprehen
Page 5 and 6: Consolidated Statement of Financial
Page 7 and 8: Statement of Changes in Consolidate
Page 9 and 10: Consolidated Statement of Financial
Page 11 and 12: Notes to the Consolidated Financial
Page 13 and 14: Associates Associates are enterpris
Page 15 and 16: Intangible assets Goodwill Goodwill
Page 17 and 18: If indications of impairment are pr
Page 19 and 20: Sales of receivables The Group sell
Page 21 and 22: Revenue recognition Revenue is reco
Page 23 and 24: Business combinations As discussed
Page 25 and 26: Accounting standards, amendments an
Page 27 and 28: Scope of consolidation Fiat Demerge
Page 29 and 30: The main aggregate amounts related
Page 31 and 32: Finally, in January 2012 Fiat annou
Page 33 and 34: Goodwill arising from the acquisiti
Page 35 and 36: Composition and principal changes 1
Page 37 and 38: Reconciliation to the income statem
Page 39 and 40: The reconciliation between the tax
Page 41 and 42: In particular, at 31 December 2011
Page 43 and 44: The figures used to determine dilut
Page 45 and 46: For the Ferrari sector, the cash-ge
Page 47 and 48: In 2011 and in 2010 changes in the
Page 49: In 2011 and 2010, Changes in accumu
Page 53 and 54: Disposals and other changes, showin
Page 55 and 56: At 31 December 2011, Inventories in
Page 57 and 58: Receivables from financing activiti
Page 59 and 60: The fair value of derivative financ
Page 61 and 62: In respect of derivative financial
Page 63 and 64: Key financial and income statement
Page 65 and 66: As a result of the above-mentioned
Page 67 and 68: In order to maintain the necessary
Page 69 and 70: Non-controlling interest The non-co
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Page 73 and 74: 26. Provisions for employee benefit
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Page 77 and 78: The amounts recognised in the state
Page 79 and 80: Change in the scope of consolidatio
Page 81 and 82: The warranty provision represents t
Page 83 and 84: The annual interest rates and the n
Page 85 and 86: The bonds issued by the Fiat Group
Page 87 and 88: Payables represented by securities
Page 89 and 90: 29. Trade payables Trade payables o
Page 91 and 92: 32. Guarantees granted, commitments
Page 93 and 94: Instead, when it is probable that a
Page 95 and 96: (€ million) FGA Maserati Ferrari
Page 97 and 98: (€ million) FGA Maserati Ferrari
Page 99 and 100: In order to test for impairment, si
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Counterparties to these agreements
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36. Fair value measurement IFRS 7 r
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The main effects on profit and loss
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An analysis of the effects of relat
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Appendix I Fiat Companies at 31 Dec
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SubSidiarieS conSolidated on a line
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JoInTly-ConTRollED EnTITIES ACCoUnT
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Name Registered Office Country Shar
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SUbSIDIARIES VAlUED AT CoST (contin
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ASSoCIATED CoMpAnIES VAlUED AT CoST
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Attestation of the Consolidated Fin
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Fiat Group - Consolidated Financial Statements and Notes - Fiat SpA

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