annual report - FIAT SpA

6. Other operating costs
A breakdown of other operating costs is provided in the following table:
(€ thousand) 2010 2009
Costs for services rendered by Group companies 22,810 25,352
Costs for services rendered by third parties 48,298 39,592
Compensation component from stock option and stock grant plans 17,241 8,154
Leases and rentals 3,254 3,685
Purchase of goods 688 734
Depreciation of property, plant and equipment 1,674 1,644
Amortization of intangible assets 40 62
Misc. operating costs 7,586 6,682
Total other operating costs 101,591 85,905
Costs for services rendered by Group companies primarily consisted of assistance and consultancy of an
administrative and financial nature, public relations, payroll services, security services and internal audit services (see
Note 30).
Costs for services rendered by third parties principally included legal, administrative and financial services as well as IT
and technical services (T.A.V.). The increase over the prior year also reflects costs related to the Demerger of
approximately €8 million.
For 2010, compensation for directors and statutory auditors of Fiat S.p.A. amounted to €6,554 thousand and €230
thousand, respectively. The amount of directors’ fees includes fees resolved by shareholders as well as compensation
established by the Board of Directors for directors vested with specific responsibilities.
The compensation component from stock option and stock grant plans is connected with the options granted to the
Chief Executive Officer and is represented by the notional cost, with the offsetting credit recognized directly in the
relevant equity reserve (see Note 19).
Miscellaneous operating costs consist of subscriptions to trade associations, indirect taxes and duties (local property
taxes, non-deductible VAT, etc.), prior year expenses and other minor costs.
7. Financial income/(expense)
Following is a breakdown of financial income/(expense):
(€ thousand) 2010 2009
Financial income 31,210 14,190
Financial expense (234,830) (144,873)
Net income/(expense) from derivative financial instruments 110,585 116,992
Total financial income/(expense) (93,035) (13,691)
Following is a breakdown of financial income:
(€ thousand)
Financial income from Group companies:
2010 2009
Interest income from Fiat Finance S.p.A. current account 22,938 3,427
Commission income from sureties and personal guarantees 5,255 5,440
Other financial income 52 63
Total financial income from Group companies
Financial income from third parties:
28,245 8,930
Interest income on bank and other deposits 6 9
Interest income on tax credits 2,963 5,134
Total financial income from third parties 2,969 5,143
Exchange losses/(income) (4) 117
Total financial income 31,210 14,190
Fiat S.p.A. – Statutory Financial Statements at 31 December 2010 275