annual report - FIAT SpA

Operations for €57 million (€115 million in 2009). Amounts recognised as income from the reversal of write-downs on
items sold during the year were not significant.
The majority of amount due from customers for contract work relates to the Production Systems sector and can be
analysed as follows:
(€ million) At 31 December 2010 At 31 December 2009
Aggregate amount of costs incurred and recognised profits (less recognised losses) to date 1,233 1,056
Less: Progress billings (1,203) (1,058)
Construction contracts, net of advances on contract work 30 (2)
Gross amount due from customers for contract work as an asset
Less: Gross amount due to customers for contract work as a liability included in Other current
135 79
liabilities (Note 28) (105) (81)
Construction contracts, net of advances on contract work 30 (2)
At 31 December 2010 and 2009, the amount of retentions by customers on contract work in progress was not
significant.
19. Current receivables and Other current assets
The composition of the caption is as follows:
At 31 December 2010 At 31 December 2009
Continuing Discontinued
(€ million)
Operations Operations Total Total
Trade receivables 2,259 1,791 4,050 3,649
Receivables from financing activities 2,866 10,908 13,774 12,695
Current tax receivables
Other current assets:
353 552 905 674
Other current receivables 1,410 776 2,186 2,529
Accrued income and prepaid expenses 118 158 276 249
Total Other current assets 1,528 934 2,462 2,778
Total Current receivables and Other current assets 7,006 14,185 21,191 19,796
The analysis by due date is as follows:
At 31 December 2010
due
between due
due within one and beyond
(€ million)
Continuing Operations
one year five years five years Total
Trade receivables 2,209 50 - 2,259
Receivables from financing activities 2,080 764 22 2,866
Current tax receivables 243 28 82 353
Other current receivables 1,200 197 13 1,410
Total 5,732 1,039 117 6,888
Discontinued Operations
Trade receivables 1,771 20 - 1,791
Receivables from financing activities 6,664 4,044 200 10,908
Current tax receivables 539 10 3 552
Other current receivables 479 279 18 776
Total 9,453 4,353 221 14,027
Total Current receivables 15,185 5,392 338 20,915
due within
one year
due
between
one and
five years
At 31 December 2009
due
beyond
five years Total
3,573 73 3 3,649
8,002 4,428 265 12,695
540 37 97 674
1,480 991 58 2,529
13,595 5,529 423 19,547
- - - -
- - - -
- - - -
- - - -
- - - -
13,595 5,529 423 19,547
Fiat Group Consolidated Financial Statements at 31 December 2010 161