Chrysler 2003 Annual Report Download - page 175

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174 Fiat S.p.A. Financial Statements at December 31, 2003
Notes to the Financial Statements
Interest and other financial expenses
Interest and other financial expenses amounted to 223,267 thousand euros in 2003, or 128,941 thousand euros more than in 2002.
A breakdown is provided below:
(in thousands of euros) 2003 2002
Subsidiaries
Interest and other financial expenses paid to:
Fiat Ge.Va. S.p.A. 15,010 18,538
Intermap (Nederland) B.V. 844
Total 15,854 18,538
Fees paid to:
Fiat Ge.Va. S.p.A. 12 41
Foreign exchange losses 98 156
Interest on derivative financial instruments 906
Miscellaneous 15 39
Total subsidiaries 16,885 18,774
Others
Interest paid on convertible facility 123,489 38,655
Fees paid on convertible facility 70,200 18,838
Interest and other financing charges paid to banks 20 20
Interest paid to other lenders 327 3,170
Interest expenses and charges for the sale of receivables 10,807 12,955
Charges for stock listings, dividend payments and other charges 513 1,844
Foreign exchange losses 26 70
Total others 205,382 75,552
Total interest and other financial expenses 222,267 94,326
18 Adjustments to financial assets
Writedowns of equity investments
This item totaled 2,373,626 thousand euros in 2003 and includes 2,369,572 thousand euros for writedown to book value of several
equity investments and 4,054 thousand euros for losses in excess of their book value. These include Fiat Netherlands Holding N.V.
(1,000,425 thousand euros), Fiat Partecipazioni S.p.A. (1,210,084 thousand euros), Magneti Marelli Holding S.p.A. (144,221 thousand
euros), Fiat USA Inc. (9,747 thousand euros), Istituto Europeo di Onclogia S.r.l. (2,939 thousand euros), Isvor Fiat S.c.p.A. (4,321
thousand euros), Fiat International S.p.A. (1,279 thousand euros), Fiat Se.p.In. S.c.p.A. (569 thousand euros), and Fiat Revi S.c.r.l.
(41 thousand euros).
In 2002 writedowns included Fiat Partecipazioni S.p.A. (1,189,200 thousand euros), Iveco N.V. (280,025 thousand euros), Fiat
Netherlands Holding N.V. (732,359 thousand euros), Comau B.V. (349,673 thousand euros), Sicind S.p.A. (291,376 thousand euros),
Isvor Fiat S.c.p.A. (580 thousand euros), Istituto Europeo di Oncologia S.r.l. (1,641 thousand euros), Fiat Se.p.In. S.c.p.A. (320 thousand
euros), and Fiat Revi S.c.r.l. (27 thousand euros).
Writedowns of securities among current assets other than equity investments
This item amounted to 5,076 thousand euros and consists of writedown of the book value of treasury stock to the average stock
market price for the month of December 2003.
In 2002, it amounted to 20,434 thousand euros.