annual report - FIAT SpA

Statement of Cash Flows for Fiat Group pre Demerger by Activity
(€ million) Consolidated
A)
B)
C)
Industrial
Activities
2010 2009
Financial
Services Consolidated
Industrial
Activities
Report on Operations Financial Review – Fiat Group
Financial
Services
CASH AND CASH EQUIVALENTS AT
BEGINNING OF THE YEAR (AS REPORTED) 12,226 10,819 1,407 3,683 2,604 1,079
Cash and cash equivalents included under Assets
held for sale - - - - - -
CASH AND CASH EQUIVALENTS AT
BEGINNING OF THE YEAR
CASH FROM/(USED IN) OPERATING
ACTIVITIES DURING THE YEAR:
12,226 10,819 1,407 3,683 2,604 1,079
Profit/(loss) 600 600 182 (848) (848) 158
Amortization and depreciation (net of vehicles sold
under buy-back commitments or leased) 2,851 2,846 5 2,673 2,667 6
(Gains)/losses on disposal of non-current assets
and other non-cash items (a) 266 (130) 214 343 8 177
Dividends received 94 419 5 53 183 15
Change in provisions 405 413 (8) 96 171 (75)
Change in deferred taxes (169) (172) 3 (179) (188) 9
Changes relating to buy-back commitments (b) 44 36 8 (58) (59) 1
Changes relating to
operating leases (c) 26 (14) 40 (41) 3 (44)
Change in working capital 1,993 1,886 107 2,562 2,564 (2)
TOTAL 6,110 5,884 556 4,601 4,501 245
D) CASH FROM/(USED IN) INVESTING ACTIVITIES:
Investments in:
Property, plant and equipment and intangible
assets (net of vehicles sold under buy-back
commitments or leased) (3,718) (3,712) (6) (3,386) (3,382) (4)
Unconsolidated subsidiaries and other
investments (288) (365) - (105) (105) -
Proceeds from the sale of non-current assets (net
of vehicles sold under buy-back commitments) 88 87 1 108 105 3
Net change in receivables from financing activities (259) (5) (254) 882 39 843
Change in other current securities 42 43 (1) (27) (30) 3
Other changes 182 1,580 (1,398) (31) 1,395 (1,426)
TOTAL
E) CASH FROM/(USED IN) FINANCING
ACTIVITIES:
(3,953) (2,372) (1,658) (2,559) (1,978) (581)
Net change in financial payables and other
financial assets/liabilities 1,149 (103) 1,252 6,295 5,602 693
Increase in share capital 1 1 77 13 13 -
Dividends paid (239) (239) (330) (27) (33) (139)
TOTAL 911 (341) 999 6,281 5,582 554
Currency translation differences 359 215 144 220 110 110
F) NET CHANGE IN CASH AND CASH
EQUIVALENTS 3,427 3,386 41 8,543 8,215 328
G) CASH AND CASH EQUIVALENTS AT END OF
THE YEAR 15,653 14,205 1,448 12,226 10,819 1,407
of which: Cash and cash equivalents included
under Assets held for sale - - - - - -
H) CASH AND CASH EQUIVALENTS AT END OF
THE YEAR (AS REPORTED) 15,653 14,205 1,448 12,226 10,819 1,407
(a) Includes the reversal of a €107 million gain (€117 million loss for 2009) in the fair value of two stock-option related swaps on Fiat S.p.A. shares
(b) Cash from vehicles sold under buy-back commitments for the periods reported above, net of amounts already recognized through the income
statement, is included in a separate line item under operating activities which also includes the change in working capital, capital expenditures and
depreciation
(c) Cash from operating leases is stated in a separate line item, which also includes capital expenditures, depreciation, writedowns and change in
inventory
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