annual report - FIAT SpA

The annual interest rates and the nominal currencies of debt at 31 December 2010 are as follows:
(€ million)
less
than 5%
from 5%
to 7.5%
from 7.5%
to 10%
from 10%
to 12.5%
Interest rate
greater
than 12.5% Total
Continuing Operations
Euro 5,682 6,002 2,500 - - 14,184
Brazilian real 690 196 250 1,160 148 2,444
US dollar 391 131 - - - 522
Canadian dollar 332 - - - - 332
Chinese renminbi 143 40 - - - 183
Polish zloty 139 1 12 - - 152
British pound 63 - - - - 63
Argentine peso - - - 5 30 35
Other 20 - - 1 3 24
Total Continuing Operations 7,460 6,370 2,762 1,166 181 17,939
Discontinued Operations
Euro 1,855 24 3 - - 1,882
US dollar 4,891 408 1,871 5 - 7,175
Brazilian real 193 723 176 683 3 1,778
Canadian dollar 1,127 - - - - 1,127
Australian dollar 22 803 - - - 825
Chinese renminbi 13 86 - - - 99
Polish zloty - 57 - - - 57
Argentine peso - - - 18 16 34
British pound 2 - - - - 2
Other 79 - 1 10 - 90
Total Discontinued Operations 8,182 2,101 2,051 716 19 13,069
Total Debt 15,642 8,471 4,813 1,882 200 31,008
Debt with annual nominal interest rates in excess of 12.5% relates principally to the companies operating in Argentina
and Brazil.
For further information on the management of interest rate and currency risk reference should be made to the
previous section Risk Management and to Note 32.
The fair value of Debt classified as Continuing Operations at 31 December 2010 amounts approximately to
€18,391 million. The fair value of Debt classified as Discontinued Operations at 31 December 2010 amounted
approximately to €13,197 million. The fair value of Debt at 31 December 2009 amounted approximately to €28,844
million. These amounts have been determined using the quoted market price of financial instruments, if available, or
discounting the related future cash flows and using the interest rates stated in Note 19, suitably adjusted to take
account of the Group’s current creditworthiness.
At 31 December 2010 the Group had outstanding financial lease agreements for certain property, plant and
equipment whose overall net carrying amount totalling €322 million is included in Continuing Operations (Note 15). At
31 December 2010, the Group had outstanding financial lease agreements for certain Property, plant and equipment
whose net carrying amount totalling €48 million is included in Discontinued Operations. At 31 December 2009, the
Group had outstanding financial lease agreements for certain Property, plant and equipment whose net carrying
amount was €304 million.
At 31 December 2010, payables for finance leases included in Other debt and classified as Continuing Operations
and as Discontinued Operations amount to €286 million and €45 million, respectively, and may be analysed as
follows:
Continuing Operations Discontinued Operations
due
due
between due
between due
due within one and beyond
due within one and beyond
(€ million)
one year five years five years Total one year five years five years Total
Minimum future lease payments 48 113 129 290 8 19 20 47
Interest expense
Present value of minimum lease
(1) (3) - (4) (1) (1) - (2)
payments 47 110 129 286 7 18 20 45
Fiat Group Consolidated Financial Statements at 31 December 2010 192