Fiat Group - Consolidated Financial Statements and Notes - Fiat SpA

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134 Consolidated Financial Statements at 31 December 2011 Statement of Cash Flows Consolidated Statement of Cash Flows (*) (€ million) Note 2011 (**) 2010 A) CASH AND CASH EQUIVALENTS AT BEGINNING OF THE YEAR B) CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES DURING THE YEAR: (22) 11,967 12,226 Profit/(loss) from Continuing Operations 1,651 222 Amortisation and depreciation (Gains) losses on disposal of: 3,358 2,186 Property, plant and equipment and intangible assets 21 (3) Investments (21) (12) Other non-cash items (31) (1,106) 89 Dividends received 105 62 Change in provisions (116) 283 Change in deferred taxes (19) (199) Change in items due to buy-back commitments (31) (62) 4 Change in operating lease items (31) (28) - Change in working capital 1,412 941 Cash flows from (used in) the operating activities of Discontinued Operations - 2,537 TOTAL C) CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES: Investments in: 5,195 6,110 Property, plant and equipment and intangible assets (5,528) (2,864) Investments in consolidated subsidiaries (22) (38) Other investments (120) (121) Cash and cash equivalents from consolidation of Chrysler, net of consideration paid for the additional 16% ownership interest Proceeds from the sale of: (31) 5,624 - Property, plant and equipment and intangible assets 324 46 Investments in consolidated subsidiaries 29 - Other investments 96 11 Net change in receivables from financing activities (1,218) (594) Change in current securities (14) 24 Other changes (29) 150 Cash flows from (used in) the investing activities of Discontinued Operations - (443) TOTAL D) CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES: (858) (3,829) New issuance of bonds 2,500 - Repayment of bonds (2,448) (1,195) Issuance of other medium-term borrowings 2,149 1,210 Repayment of other medium-term borrowings (3,895) (1,016) Changes in net financial receivables from Fiat Industrial group 2,761 - Net change in other financial payables and other financial assets/liabilities 143 66 Increase in share capital 41 1 Dividends paid (181) (239) (Purchase)/sale of ownership interests in subsidiaries (31) (438) (124) Cash flows from (used in) the financing activities of Discontinued Operations - 2,084 TOTAL 632 787 Translation exchange differences 590 359 E) TOTAL CHANGE IN CASH AND CASH EQUIVALENTS 5,559 3,427 F) CASH AND CASH EQUIVALENTS AT END OF THE YEAR (22) 17,526 15,653 of which: Cash and cash equivalents included as Assets held for sale and Discontinued Operations - 3,686 G) CASH AND CASH EQUIVALENTS AT END OF THE YEAR AS REPORTED (22) 17,526 11,967 (*) Pursuant to Consob Resolution 15519 of 27 July 2006, the effects of related party transactions on the consolidated statement of cash flows are presented in the specific Statement of Cash Flows schedule provided in the following pages. (**) Cash flows for 2011 include the consolidation of Chrysler from 1 June 2011.
Statement of Changes in Consolidated Equity Statement of Changes in Consolidated Equity Consolidated Financial Statements at 31 December 2011 Available Cumulative share of OCI Cumulative for sale of entities Cash flow translation financial consolidated Non- Share Treasury Capital Earning hedge adjustment assets under the controlling (€ million) capital shares reserves reserves reserve reserve reserve equity method interests Total AT 1 JANUARY 2010 6,377 (657) 682 3,804 (219) 393 2 (81) 814 11,115 Changes in equity for 2010 Capital increase - - - - - - - - 1 1 Dividends accrued or distributed Purchase and sale of shares in subsidiaries from/to - - - (237) - - - - (2) (239) non-controlling interests - - (81) - - - - - (38) (119) Increase in the reserve for share-based payments - - - 17 - - - - - 17 Total comprehensive income - - - 520 174 718 (4) 95 137 1,640 Other changes - - - 41 - - - - 5 46 AT 31 DECEMBER 2010 6,377 (657) 601 4,145 (45) 1,111 (2) 14 917 12,461 Changes in equity for 2011 Effects of the Demerger Direct effects of the Demerger Effects of the demerger on Treasury shares and on the Fiat S.p.A. Reserve for Share (1,913) - (457) (1,216) 23 (398) - (31) (724) (4,716) based payments - 368 - (185) - - - - - 183 Capital increase Increase in share capital due to the exercising of - - - - - - - - 36 36 stock option 2 - 3 - - - - - - 5 Dividends distributed Net Increase in the Reserve for share-based - - - (152) - - - - (29) (181) payments Non-controlling interest arising from the - - - 3 - - - - - 3 consolidation of Chrysler Purchase and sale of shares in subsidiaries from/to - - - - - - - - 3,112 3,112 non-controlling interests - - - (83) - - - - (426) (509) Total comprehensive income - - - 1,334 (148) 121 (41) (63) 650 1,853 Other changes - - - 16 - - - - (3) 13 AT 31 DECEMBER 2011 4,466 (289) 147 3,862 (170) 834 (43) (80) 3,533 12,260 135 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: Consolidated Statement of Financial
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 and 50: In 2011 and 2010, Changes in accumu
Page 51 and 52: Additions of €3,925 million in 20
Page 53 and 54: Disposals and other changes, showin
Page 55 and 56: At 31 December 2011, Inventories in
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Receivables from financing activiti
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The fair value of derivative financ
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In respect of derivative financial
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Key financial and income statement
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As a result of the above-mentioned
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In order to maintain the necessary
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Non-controlling interest The non-co
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Changes during the year were as fol
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26. Provisions for employee benefit
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Other provisions for employees and
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The amounts recognised in the state
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Change in the scope of consolidatio
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The warranty provision represents t
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The annual interest rates and the n
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The bonds issued by the Fiat Group
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Payables represented by securities
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29. Trade payables Trade payables o
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32. Guarantees granted, commitments
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Instead, when it is probable that a
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(€ million) FGA Maserati Ferrari
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(€ million) FGA Maserati Ferrari
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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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