annual report - FIAT SpA

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(€ million) FGA Maserati Ferrari At 31 December 2009 Fiat Powertrain Magneti Marelli Teksid Comau CNH Iveco FPT Industrial Other Operating Segments Unallocated items & adjustments Segment assets 16,157 368 1,608 3,234 3,258 517 567 18,346 7,214 1,743 17,950 (18,935) 52,027 Tax assets Receivables from financing activities, Noncurrent Other receivables and Securities of industrial 3,254 3,254 companies Cash and cash equivalents, Current securities and Other financial assets of 340 340 industrial companies 11,614 11,614 Total Treasury assets 11,954 11,954 Total unallocated assets 15,208 15,208 Total Assets 67,235 Segment operating assets include: Investments in associates and joint-ventures accounted for by using the equity method 1,078 - - 41 9 25 - 284 324 11 Increases in non-current assets other than financial instruments, deferred tax assets and postemployment benefit assets 1,516 65 290 428 362 33 13 335 464 162 Segment liabilities 13,520 317 1,022 1,783 1,954 261 406 14,049 5,942 938 1,171 (2,165) 39,198 Tax liabilities 890 890 Treasury liabilities Total unallocated 16,032 16,032 liabilities 16,922 16,922 Total Liabilities 56,120 <strong>FIAT</strong> Group Fiat Group Consolidated Financial Statements at 31 December 2010 203
For Assets and Liabilities included in Discontinued Operations, details of segment assets and liabilities, based on the rules used for continuing segments, are as follows: (€ million) CNH Iveco FPT Industrial At 31 December 2010 Other Operating Unallocated items Segments & adjustments Total Segment assets 19,268 6,977 1,744 5,855 (6,259) 27,585 Tax assets 1,763 1,763 Receivables from financing activities, Noncurrent Other receivables and Securities of industrial companies 71 71 Cash and cash equivalents, Current securities and Other financial assets of industrial companies 2,570 2,570 Total Treasury assets 2,641 2,641 Total unallocated assets 4,404 4,404 Total Assets included in Discontinued Operations 31,989 Segment operating assets include: Investments in associates and joint-ventures accounted for by the equity method 358 320 - Increases in non-current assets other than financial instruments, deferred tax assets and post-employment benefit assets 447 635 126 Segment liabilities 15,376 5,902 1,198 11 (3,363) 19,124 Tax liabilities 700 Treasury liabilities 4,470 Total unallocated liabilities 5,170 Total Liabilities included in Discontinued Operations 24,294 The figures relating to the segments transferred to the Fiat Industrial Group from 1 January 2010 are presented as if these segments still belong to the Fiat Group; there is no intention to describe the operations of these segments from the standpoint of the new Fiat Industrial Group or to present the Group’s operations as if the Demerger had not occurred. 31. Information by geographical area The Group’s parent company has its registered office in Italy. In 2010, revenues earned from external customers may be analysed as follows: 2010 2009 Continuing Discontinued Continuing Discontinued (€ million) Operations Operations Eliminations Total Operations Operations Eliminations Total Italy 9,782 2,491 (366) 11,907 10,747 2,250 (253) 12,744 Rest of the world Total revenues from 26,098 18,851 (598) 44,351 21,937 15,718 (297) 37,358 external customers 35.880 21,342 (964) 56,258 32,684 17,968 (550) 50,102 Fiat Group Consolidated Financial Statements at 31 December 2010 204
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ANNUAL REPORT AT 31 DECEMBER 2010 T
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FIAT S.P.A. - STATUTORY FINANCIAL S
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2010 IN SUMMARY 2010 RESULTS (€ b
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AUTOMOBILES Fiat Practical, versati
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The range of tractors, balers and c
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FIAT & FIAT INDUSTRIAL WORLDWIDE Fr
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OPERATING RESPONSIBLY Fiat Group ha
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SELECT DATA BY REGION Fiat Group pr
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MAJOR SHAREHOLDERS At the date of t
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Ratings Services places Fiat SpA's
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UGL sign agreement for relaunch of
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MAIN RISKS AND UNCERTAINTIES TO WHI
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Risks associated with the high leve
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RESEARCH AND INNOVATION Promoting s
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the A22 operator, because it will m
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ELASIS Established in 1988, at the
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HUMAN RESOURCES At 31 December 2010
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implementation of the plan were ini
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2011, with a one-off gross payment
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Principal changes in the scope of c
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In Europe, Fiat Professional increa
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Trading profit/(loss) Fiat Group po
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the remaining 50% in Fiat-GM Powert
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Statement of Cash Flows Following i
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At 31 December 2010, consolidated n
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Operating Performance by Activity F
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Financial Services Net revenues for
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Assets and liabilities held for sal
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The above analysis of net debt by a
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Statement of Cash Flows for Fiat Gr
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CORPORATE GOVERNANCE FOREWORD The F
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ehalf of third parties, with the Co
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BOARD OF STATUTORY AUDITORS As requ
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€50,000,000 (€35,000,000 follow
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SUBSEQUENT EVENTS AND OUTLOOK SUBSE
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FIAT GROUP AUTOMOBILES Fiat, Abarth
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development of a supply network aro
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427,429 vehicles, representing a fi
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FERRARI Highlights OPERATING PERFOR
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Fiat Powertrain OPERATING PERFORMAN
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COMPONENTS Magneti Marelli OPERATIN
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competitive. Significant events inc
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PRODUCTION SYSTEMS Comau OPERATING
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AGRICULTURAL AND CONSTRUCTION EQUIP
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TRUCKS AND COMMERCIAL VEHICLES Ivec
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INNOVATION AND PRODUCTS Innovation
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FPT Industrial OPERATING PERFORMANC
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swaps. The €79 million increase o
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Non-current financial liabilities c
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FIAT GROUP CONSOLIDATED FINANCIAL S
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CONSOLIDATED STATEMENT OF COMPREHEN
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CONSOLIDATED STATEMENT OF FINANCIAL
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STATEMENT OF CHANGES IN CONSOLIDATE
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CONSOLIDATED STATEMENT OF FINANCIAL
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CONSOLIDATED STATEMENT OF CASH FLOW
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� As a result of the Demerger, on
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Associates Associates are enterpris
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conditions are met: that developmen
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In particular, Cash and cash equiva
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Assets and liabilities held for sal
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Research and development costs This
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Residual values of assets leased ou
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The above changes in accounting pri
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financial statement items, excludin
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SCOPE OF CONSOLIDATION The consolid
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eliminations of transactions and ba
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Assets and liabilities classified a
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Fiat Industrial - Historical combin
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COMPOSITION AND PRINCIPAL CHANGES 1
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A reconciliation to the income stat
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(€ million) 2010 2009 Theoretical
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Total at Year of expiry Unlimited/
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Ordinary shares Preference shares S
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In 2010 and in 2009 changes in accu
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Goodwill, trademarks and intangible
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subsequent cash flows into perpetui
Page 154 and 155: In 2010 and 2009, Changes in accumu
Page 156 and 157: The above mentioned changes include
Page 158 and 159: In 2009 Disposals and other changes
Page 160 and 161: have been prepared in accordance wi
Page 162 and 163: Operations for €57 million (€11
Page 164 and 165: (€ million) Allowance for receiva
Page 166 and 167: � the fair value of derivative fi
Page 168 and 169: (€ million) Currency risk Continu
Page 170 and 171: � further allocations to the lega
Page 172 and 173: In this respect capital means the v
Page 174 and 175: Other comprehensive income Other co
Page 176 and 177: At 31 December 2010 the features of
Page 178 and 179: On 18 February 2011, the Board of D
Page 180 and 181: vesting tied to the attainment of s
Page 182 and 183: Cash-settled share-based payments V
Page 184 and 185: In 2010 and in 2009 changes in Othe
Page 186 and 187: The amounts recognised in the incom
Page 188 and 189: The present value of the defined be
Page 190 and 191: � Environmental risks - This prov
Page 192 and 193: The major bond issues outstanding a
Page 194 and 195: At 31 December 2009, Payables for f
Page 196 and 197: The item Advances on buy-back agree
Page 198 and 199: Operating lease contracts The Group
Page 200 and 201: also carry out financial services a
Page 202 and 203: (€ million) CNH Iveco FPT Industr
Page 206 and 207: The following is an analysis of rev
Page 208 and 209: programmes that were implemented fr
Page 210 and 211: In addition, the financial services
Page 212 and 213: The following table provides an ana
Page 214 and 215: Transactions with jointly controlle
Page 216 and 217: � Cost of sales: transactions wer
Page 218 and 219: � Trade receivables: these relate
Page 220 and 221: The consideration paid for this acq
Page 222 and 223: 36. Explanatory notes to the Statem
Page 224 and 225: APPENDIX I FIAT COMPANIES AT 31 DEC
Page 226 and 227: SUBSIDIARIES CONSOLIDATED ON A LINE
Page 238 and 239: JOINTLY-CONTROLLED ENTITIES ACCOUNT
Page 240 and 241: SUBSIDIARIES VALUED AT COST (contin
Page 242 and 243: Name Registered Office Country Shar
Page 244 and 245: DISCONTINUED Name Registered Office
Page 252 and 253: SUBSIDIARIES VALUED AT COST (contin
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APPENDIX II INFORMATION REQUIRED UN
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FIAT S.P.A. STATUTORY FINANCIAL STA
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STATEMENT OF FINANCIAL POSITION (*)
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STATEMENT OF CHANGES IN EQUITY (€
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STATEMENT OF FINANCIAL POSITION pur
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NOTES TO THE STATUTORY FINANCIAL ST
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and investments in subsidiaries and
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income on a percentage completion b
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Dividends payable Dividends payable
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emain with the entity that transfer
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With regard to the shareholding in
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6. Other operating costs A breakdow
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A reconciliation between theoretica
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10. Property, plant and equipment A
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Investments in subsidiaries and cha
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During 2009, changes in investments
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16. Other current receivables At 31
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Prior to shareholder approval of th
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2009. Under the Program, purchases
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When the dividend paid to savings s
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A summary of the terms of the stock
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20. Provisions for employee benefit
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The amounts recognized in the incom
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22. Other non-current liabilities A
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26. Other payables At 31 December 2
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December 2009), activities to compl
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proceedings, the possible outcome o
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The effects of these transactions o
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31 December 2009 Non- Current curre
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31. Net financial position Pursuant
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List of equity investments (continu
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FEES PAID TO MEMBERS OF THE BOARD O
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APPENDIX INFORMATION REQUIRED UNDER
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Auditor's Reports 319
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321 Auditor's Reports 321
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REPORTS OF THE BOARD OF STATUTORY A
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Examination of the pro forma consol
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completeness, the report on operati
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� Riccardo Perotta: Chairman of t
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