annual report - FIAT SpA

SCOPE OF CONSOLIDATION
The consolidated financial statements of the Fiat Group at 31 December 2010 include Fiat S.p.A. and 418
consolidated subsidiaries in which Fiat S.p.A., directly or indirectly, has a majority of the voting rights, over which it
exercises control, or from which it is able to derive benefit by virtue of its power to govern corporate financial and
operating policies. One more subsidiary was consolidated at 31 December 2010 compared to 31 December 2009.
Excluded from consolidation are 76 subsidiaries that are either dormant or generate a negligible volume of business:
their proportion of the Group’s assets, liabilities, financial position and earnings is immaterial. In particular, 50 of such
subsidiaries are accounted for using the cost method, and represent in aggregate 0 percent of total Fiat Group
revenues (Continuing Operations and Discontinued Operations), 0 percent of the Fiat Group equity and 0.21 percent
of total Fiat Group assets.
Interests in jointly controlled entities (65 companies, including 27 entities of the FGA Capital group, are accounted for
using the equity method. Condensed financial information relating to the Group’s pro-rata interest in the above entities
is as follows:
At 31 December 2010 At 31 December 2009
Continuing Discontinued
(€ million)
Operations Operations Total Total
Non-current assets 2,008 357 2,365 2,339
Current assets 8,744 748 9,492 9,567
TOTAL ASSETS 10,752 1,105 11,857 11,906
Debt 8,250 144 8,394 8,664
Other liabilities 1,096 567 1,663 1,695
The combined balances of the Group’s share in the principal income statement items of jointly controlled entities
accounted for using the equity method are as follows:
2010 2009
Continuing Discontinued
(€ million)
Operations Operations Total Total
Net revenues 4,422 1,256 5,678 4,447
Trading profit/(loss) 224 71 295 161
Operating profit/(loss) 220 72 292 152
Profit/(loss) before taxes 163 61 224 92
Profit/(loss) 127 45 172 57
At 31 December 2010, 18 associates are accounted for using the equity method, while 29 associates, which in
aggregate are of minor importance, are accounted for using the cost method. The main aggregate amounts related to
the Group’s interests in associates are as follows:
At 31 December 2010 At 31 December 2009
Continuing Discontinued
(€ million)
Operations Operations Total Total
Total assets 451 2,157 2,608 2,512
Liabilities 312 1,877 2,189 2,125
2010 2009
Continuing Discontinued
(€ million)
Operations Operations Total Total
Net revenues 246 572 818 539
Net profit/(loss) (1) 18 17 (42)
The above figures for Continuing Operations do not include the key IFRS amounts for the associate Chrysler Group
LLC (“Chrysler”), as given their importance they are disclosed separately below. These amounts relate to the first
reporting period of the new Chrysler group (10 June to 31 December 2009) and the first nine months of 2010, since
the IFRS figures for the twelve months ended 31 December 2010 were not available at the date of publication of these
financial statements.
Fiat Group Consolidated Financial Statements at 31 December 2010 129