annual report - FIAT SpA

At 31 December 2009, Payables for finance leases included in Other debt amounted to €268 million and may be
analysed as follows:
(€ million)
due within
one year
due between one
and five years
At 31 December 2009
due beyond five
years Total
Minimum future lease payments 47 105 119 271
Interest expense (1) (2) - (3)
Present value of minimum lease payments 46 103 119 268
As discussed in Note 15, finance lease payables also relate to suppliers’ assets recognised in the consolidated
financial statements in accordance with IFRIC 4.
Debt secured by mortgages on assets of the Group and classified as Continuing Operations amounts to €324 million
at 31 December 2010, of which €286 million due to creditors for the above mentioned assets acquired under finance
leases. Debt secured by mortgages on assets of the Group and classified as Discontinued Operations amounts to €88
million at 31 December 2010, of which €45 million due to creditors for the above mentioned assets acquired under
finance leases. At 31 December 2009, Debt secured by mortgages on assets of the Group and amounted to €358
million, of which €268 million due to creditors for assets acquired under finance leases. The total carrying amount of
assets acting as security for loans amounts to €517 million at 31 December 2010 (€446 million at 31 December 2009),
of which €425 million classified as Continuing Operations and €92 million classified as Discontinued Operations. In
addition, at 31 December 2010 the Group’s assets include current receivables and cash with a pre-determined use to
settle Asset-backed financing of €533 million included in Continuing Operations and of €8,321 million included in
Discontinued Operations. At 31 December 2009, the total amount of such Asset-backed financing was €7,086 million.
Net financial position
In compliance with Consob Regulation issued on 28 July 2006 and in conformity with the CESR’s “Recommendations
for the consistent implementation of the European Commission’s Regulation on Prospectuses” issued on 10 February
2005, the Net financial position of the Group is as follows:
Continuing
Operations
Discontinued
Operations Fiat Group before Demerger
(€ million)
of which
Total Related parties
At 31 December 2010 At 31 December 2009
of which
Total Related parties
A. Cash and cash equivalents 11,967 3,686 15,653 - 12,226 651
B. Current securities (securities held for trading) 185 24 209 - 217 -
C. Liquidity (C) = (A+B) 12,152 3,710 15,862 - 12,443 651
D. Receivables from financing activities (Current financial
receivables) 2,866 10,908 13,774 129 12,695 120
of which: From jointly controlled financial services entities 12 - 12 12 14 14
E. Receivables from financing activities from
Discontinued/Continuing Operations 5,626 2,865 - - - -
F. Other financial assets 516 88 604 - 636 52
G. Debt 20,804 18,695 31,008 553 28,527 1,144
H. Other financial liabilities 255 147 402 - 464 49
I. Net financial position (I) = (C+D+E+F-G-H) 101 (1,271) (1,170) (424) (3,217) (370)
The item Receivables from financing activities includes the entire portfolio of the financial services entities, classified
as current assets as they will be realised during the normal operating cycle of these companies.
Fiat Group Consolidated Financial Statements at 31 December 2010 193