annual report - FIAT SpA

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SUBSIDIARIES CONSOLIDATED ON A LINE-BY-LINE BASIS (continued) Name Registered Office Country Share capital Currency % of Group consolidation Interest held by CNH U.K. Limited Basildon United Kingdom 91,262,275 GBP 88.86 CNH Osterreich GmbH 100.000 CNH Wholesale Receivables LLC Wilmington U.S.A. 0 USD 88.86 CNH Capital America LLC 100.000 CNH-KAMAZ Commercial B.V. Amsterdam Netherlands 18,000 EUR 88.86 CNH Global N.V. 100.000 Fiatallis North America LLC Wilmington U.S.A. 32 USD 88.86 CNH America LLC 100.000 Flagship Dealer Holding Company, LLC Wilmington U.S.A. 1 USD 88.86 CNH America LLC 100.000 Flexi-Coil (U.K.) Limited Basildon United Kingdom 3,291,776 GBP 88.86 CNH Canada, Ltd. 100.000 HFI Holdings Inc. Wilmington U.S.A. 1,000 USD 88.86 CNH America LLC 100.000 JV Uzcaseagroleasing LLC Tashkent Uzbekistan 0 USD 45.32 Case Credit Holdings Limited 51.000 JV UzCaseMash LLC Tashkent Uzbekistan 0 USD 53.32 Case Equipment Holdings Limited 60.000 JV UzCaseService LLC Tashkent Uzbekistan 0 USD 45.32 Case Equipment Holdings Limited 51.000 JV UzCaseTractor LLC Tashkent Uzbekistan 0 USD 45.32 Case Equipment Holdings Limited 51.000 Kobelco Construction Machinery America LLC Limited Liability Company Wilmington U.S.A. 0 USD 57.76 New Holland Excavator Holdings LLC 65.000 “CNH Parts and Service Operations” Moscow Russia 54,000,000 RUB 88.86 CNH Global N.V. 100.000 MBA AG Bassersdorf Switzerland 4,000,000 CHF 88.86 CNH Global N.V. 100.000 New Holland Credit Company, LLC Wilmington U.S.A. 0 USD 88.86 CNH Capital LLC 100.000 New Holland Excavator Holdings LLC Wilmington U.S.A. 0 USD 88.86 CNH America LLC 100.000 New Holland Fiat (India) Private Limited Mumbai India 12,485,547,400 INR 89.26 CNH Asian Holding Limited N.V. Fiat Group Automobiles S.p.A. New Holland Holding (Argentina) S.A. Buenos Aires Argentina 23,555,415 ARS 88.86 CNH Latin America Ltda. 100.000 New Holland Holding Limited New Holland Kobelco Construction Basildon United Kingdom 106,328,601 GBP 88.86 CNH Europe Holding S.A. 100.000 Machinery S.p.A. San Mauro Torinese Italy 110,025,936 EUR 72.46 CNH Italia s.p.a. 81.544 New Holland Ltd Basildon United Kingdom 1,000,000 GBP 88.86 CNH Global N.V. 100.000 New Holland Tractor Ltd. N.V. Antwerp Belgium 9,631,500 EUR 88.86 New Holland Holding Limited 100.000 O & K - Hilfe GmbH Berlin Germany 25,565 EUR 88.86 CNH Baumaschinen GmbH 100.000 Pryor Foundry Inc. Oklahoma City U.S.A. 1,000 USD 88.86 CNH America LLC 100.000 Receivables Credit II Corporation Shanghai New Holland Agricultural Calgary Canada 1 CAD 88.86 CNH Capital America LLC 100.000 Machinery Corporation Limited Shanghai People's Rep.of China 35,000,000 USD 53.32 CNH Asian Holding Limited N.V. 60.000 Steyr Center Nord GmbH Ruckersdorf-Harmanns Austria 35,000 EUR 88.86 CNH Osterreich GmbH 100.000 Trucks and Commercial Vehicles Iveco S.p.A. Turin Italy 200,000,000 EUR 100.00 Fiat S.p.A. 100.000 Afin Bohemia s.r.o. Prague Czech Republic 1,000,000 CZK 100.00 Afin Leasing AG 100.000 Afin Broker de Asigurare - Reasigurare S.r.l. Bucharest Romenia 25,000 RON 100.00 Afin Leasing Ifn s.a. 100.000 Afin Bulgaria EAD Sofia Bulgaria 200,000 BGN 100.00 Afin Leasing AG 100.000 Afin Hungary Kereskedelmi KFT. Budapest Hungary 24,000,000 HUF 100.00 Afin Leasing AG 100.000 Afin Leasing AG Vienna Austria 1,500,000 EUR 100.00 Iveco International Trade Finance S.A. 100.000 % interest held 96.407 3.593 % of voting rights 48.965 51.035 Appedix I Fiat Companies at 31 December 2010 245
SUBSIDIARIES CONSOLIDATED ON A LINE-BY-LINE BASIS (continued) Name Registered Office Country Share capital Currency % of Group consolidation Interest held by Afin Leasing Ifn s.a. Bucharest Romenia 77,163,680 RON 100.00 Afin Leasing AG Afin Bohemia s.r.o. Afin Bulgaria EAD Afin Hungary Kereskedelmi KFT. Afin Slovakia S.R.O. Afin Slovakia S.R.O. Bratislava Slovack Republic 39,833 EUR 100.00 Afin Leasing AG 100.000 Afin Trade Bulgaria Eood Amce-Automotive Manufacturing Sofia Bulgaria 5,000 BGN 100.00 Afin Bulgaria EAD 100.000 Co.Ethiopia Addis Ababa Ethiopia 12,000,000 ETB 70.00 Fiat Netherlands Holding N.V. 70.000 AS Afin Baltica Harjumaa Estonia 800,000 EEK 100.00 Afin Leasing AG 100.000 Astra Veicoli Industriali S.p.A. Piacenza Italy 10,400,000 EUR 100.00 Iveco S.p.A. 100.000 Effe Grundbesitz GmbH Ulm Germany 10,225,838 EUR 100.00 Iveco Investitions GmbH 90.000 Fiat Gestione Partecipazioni S.p.A. 10.000 F. Pegaso S.A. Madrid Spain 993,045 EUR 100.00 Iveco España S.L. 99.996 Iveco Partecipazioni Finanziarie S.r.l. 0.004 Fiat Industrial Finance France S.A. Trappes France 1,000,000 EUR 100.00 Fiat Netherlands Holding N.V. 99.998 Heuliez Bus S.A. Rorthais France 9,000,000 EUR 100.00 Société Charolaise de Participations S.A. 100.000 IAV-Industrie-Anlagen-Verpachtung GmbH Ulm Germany 25,565 EUR 100.00 Iveco Investitions GmbH 95.000 Fiat Gestione Partecipazioni S.p.A. 5.000 Ikarus Egyedi Autobusz GY Budapest Hungary 46,280,000 HUF 89.09 Iveco España S.L. 89.088 Industrial Vehicles Center Hainaut S.A. Charleroi Belgium 600,000 EUR 100.00 S.A. Iveco Belgium N.V. 95.000 Iveco Nederland B.V. 5.000 Irisbus (U.K.) Ltd Watford United Kingdom 200,000 GBP 100.00 Iveco España S.L. 100.000 Irisbus Australia Pty. Ltd. Dandenong Australia 6,123,391 AUD 100.00 Iveco España S.L. 100.000 Irisbus Benelux Ltd. Leudelange Luxembourg 594,000 EUR 100.00 Iveco France 99.983 Société Charolaise de Participations S.A. 0.017 Irisbus Deutschland GmbH Unterschliessheim Germany 3,800,000 EUR 100.00 Iveco España S.L. 100.000 Irisbus Italia S.p.A. Turin Italy 4,500,000 EUR 100.00 Iveco España S.L. 100.000 IVC Brabant N.V. S.A. Groot Belgium 800,000 EUR 100.00 S.A. Iveco Belgium N.V. 75.000 Iveco Nederland B.V. 25.000 Iveco (Schweiz) AG Kloten Switzerland 9,000,000 CHF 100.00 Iveco Nederland B.V. 100.000 Iveco Arac Sanayi VE Ticaret A.S. Samandira-Kartal/Istanbul Turkey 12,879,000 TRY 100.00 Fiat Netherlands Holding N.V. 100.000 Iveco Argentina S.A. Cordoba Argentina 130,237,793 ARS 100.00 Iveco España S.L. 99.000 Astra Veicoli Industriali S.p.A. 1.000 Iveco Austria GmbH Vienna Austria 6,178,000 EUR 100.00 Fiat Netherlands Holding N.V. 100.000 Iveco Bayern GmbH Nuremberg Germany 742,000 EUR 100.00 Iveco Magirus AG 100.000 Iveco Capital SA Paradiso Switzerland 14,000,000 CHF 100.00 Iveco Partecipazioni Finanziarie S.r.l. 100.000 Iveco Contract Services Limited Watford United Kingdom 17,000,000 GBP 100.00 Iveco Partecipazioni Finanziarie S.r.l. 100.000 Iveco Czech Republic A.S. Vysoke Myto Czech Republic 1,065,559,000 CZK 97.98 Iveco France 97.978 Iveco Danmark A/S Glostrup Denmark 501,000 DKK 100.00 Fiat Netherlands Holding N.V. 100.000 % interest held 99.800 0.050 0.050 0.050 0.050 Appedix I Fiat Companies at 31 December 2010 246 % of voting rights
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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
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In 2010 and 2009, Changes in accumu
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The above mentioned changes include
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In 2009 Disposals and other changes
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have been prepared in accordance wi
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Operations for €57 million (€11
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(€ million) Allowance for receiva
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� the fair value of derivative fi
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(€ million) Currency risk Continu
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� further allocations to the lega
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In this respect capital means the v
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Other comprehensive income Other co
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At 31 December 2010 the features of
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On 18 February 2011, the Board of D
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vesting tied to the attainment of s
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Cash-settled share-based payments V
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In 2010 and in 2009 changes in Othe
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The amounts recognised in the incom
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The present value of the defined be
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� Environmental risks - This prov
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The major bond issues outstanding a
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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 204 and 205: (€ million) FGA Maserati Ferrari
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
Page 254 and 255: APPENDIX II INFORMATION REQUIRED UN
Page 256 and 257: FIAT S.P.A. STATUTORY FINANCIAL STA
Page 258 and 259: STATEMENT OF FINANCIAL POSITION (*)
Page 260 and 261: STATEMENT OF CHANGES IN EQUITY (€
Page 262 and 263: STATEMENT OF FINANCIAL POSITION pur
Page 264 and 265: NOTES TO THE STATUTORY FINANCIAL ST
Page 266 and 267: and investments in subsidiaries and
Page 268 and 269: income on a percentage completion b
Page 270 and 271: Dividends payable Dividends payable
Page 272 and 273: emain with the entity that transfer
Page 274 and 275: With regard to the shareholding in
Page 276 and 277: 6. Other operating costs A breakdow
Page 278 and 279: A reconciliation between theoretica
Page 280 and 281: 10. Property, plant and equipment A
Page 282 and 283: Investments in subsidiaries and cha
Page 284 and 285: During 2009, changes in investments
Page 286 and 287: 16. Other current receivables At 31
Page 288 and 289: Prior to shareholder approval of th
Page 290 and 291: 2009. Under the Program, purchases
Page 292 and 293: When the dividend paid to savings s
Page 294 and 295: 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
Page 330:
� Riccardo Perotta: Chairman of t
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