annual report - FIAT SpA

22. Other non-current liabilities
At 31 December 2010, other non-current liabilities amounted to €13,561 thousand, showing a net decrease of €790
thousand over the previous year end.
The item consisted of the following:
(€ thousand) 31 December 2010 31 December 2009 Change
Non-current post-employment benefits to be paid:
to a former Chief Executive Officer 4,385 4,690 (305)
to former employees 9,176 9,661 (485)
Total other non-current liabilities 13,561 14,351 (790)
The non-current post-employment benefits to be paid represent the present value of benefits (see Note 20) to be paid
to a former Chief Executive Officer and management personnel that have left the Company.
A breakdown of other non-current liabilities by due date is as follows:
(€ thousand)
Other non-current liabilities
31 December 2010 31 December 2009
due within one year 819 791
due after one year but within five years 4,550 4,394
due beyond five years 8,192 9,166
Total 13,561 14,351
23. Provisions for employee benefits and other current provisions
At 31 December 2010, this item totaled €9,274 thousand, a net increase of €810 thousand over 31 December 2009,
and consisted of the following:
(€ thousand) 31 December 2009 Accruals
Utilizations and
Other changes 31 December 2010
Provision for employee bonuses 8,464 8,919 (8,109) 9,274
Total provisions for employee benefits and other
current provisions 8,464 8,919 (8,109) 9,274
The provision for employee bonuses primarily represents the estimate of variable compensation payable to employees
accrued at 31 December 2010.
Changes in provisions for employee benefits and other current provisions during 2009 were as follows:
(€ thousand) 31 December 2008 Accruals
Utilizations and
Other changes 31 December 2009
Provision for employee bonuses
Total provisions for employee benefits and other
6,346 8,254 (6,136) 8,464
current provisions 6,346 8,254 (6,136) 8,464
24. Trade payables
At 31 December 2010, trade payables totaled €41,011 thousand, a net decrease of €115,238 thousand over 31
December 2009, and consisted of the following:
(€ thousand) 31 December 2010 31 December 2009 Change
Trade payables to third parties 38,913 152,657 (113,744)
Intercompany trade payables for goods and services 2,098 3,592 (1,494)
Total trade payables 41,011 156,249 (115,238)
Trade payables to third parties are mainly due to CAV.E.T. and CAV.TO.MI. in relation to the work performed over the
latter part of the year (see Note 14).
Trade payables are due within one year and their carrying amount at the balance sheet date is deemed to approximate
their fair value.
Fiat S.p.A. – Statutory Financial Statements at 31 December 2010 299