Chrysler 2003 Annual Report Download - page 84

83 Fiat Group Consolidated Financial Statements at December 31, 2003
Notes to the Consolidated Financial Statements
Investments in associated companies are as follows:
At 12/31/2003 At 12/31/2002
(in millions of euros) % Amount % Amount
Associated companies:
Fiat-GM Powertrain B.V. 50.0 1,172 50.0 1,189
Italenergia Bis S.p.A 24.6 512 24.6 481
Fidis Retail Italia S.p.A. (*) 49.0 372 ––
Tofas Turk Otomobil Fabrikasi A.S. 37.9 156 37.9 136
Sevel S.p.A. 50.0 118 50.0 125
Kobelco Construction Machinery Co. Ltd. 20.0 103 20.0 107
Naveco Ltd. (**) 50.0 102 ––
Rizzoli Corriere della Sera MediaGroup S.p.A. (formerly H.d.P. S.p.A.) 9.8 99 10.1 98
Consolidated Diesel Company 50.0 54 50.0 59
Jiangsu Nanya Auto Co. Ltd. 50.0 54 50.0 55
Société Europeenne de Vehicules Legers du Nord-Sevelnord Société Anonyme 50.0 49 50.0 47
New Holland HFT Japan Inc. 50.0 32 50.0 42
Global Value Services S.p.A. 50.0 36 50.0 38
CBC-Iveco Ltd. 50.0 40 50.0 37
CNH Capital Europe S.A.S. 49.9 45 50.0 30
Turk Traktor Ve Ziraat Makineleri A.S. 37.5 33 37.5 30
IPI S.p.A. (*) 10.0 16 ––
LBX Company LLC 50.0 15 50.0 20
New Holland Trakmak Traktor A.S. 37.5 14 37.5 14
Transolver Finance Establecimiento Financiero de Credito S.A. (*) 50.0 14 ––
Toro Targa Assicurazioni S.p.A. (*) 49.0 13 ––
AL-Ghazi Tractors Ltd. 43.2 12 43.2 13
Hua Dong Teksid Automotive Foundry Co. Ltd. 50.0 7 50.0 12
New Holland de Mexico S.A. de C.V. 50.0 6 50.0 22
Other associated companies (minor amounts) 128 167
Total 3,202 2,722
(*) Company consolidated line-by-line in 2002
(**) Company consolidated proportionally in 2002
The above list also comprises certain companies under joint control, the most important of which are Fiat-GM Powertrain B.V.,
Sevel S.p.A. and Société Europeenne de Vehicules Legers du Nord-Sevelnord Société Anonyme and Naveco Ltd. Such companies
carry a negative net financial position of 1,093 million euros (2,480 million euros at December 31, 2002).
Fiat-GM Powertrain B.V.
Fiat-GM Powertrain B.V. is an industrial joint venture for the manufacture of engines and gears for cars that was set up in the second
half of 2001 between Fiat and General Motors Corporation (General Motors) under the well-known strategic alliance. The key figures
taken from the financial statements of Fiat-GM Powertrain, drawn up in accordance with the accounting principles of the Group for
the valuation of the investment using the equity method at December 31, 2003 and 2002 are as follows:
(in millions of euros) At 12/31/2003 At 12/31/2002
Balance sheet data
Fixed assets 3,250 3,416
Total assets 6,611 6,681
Financial payables (1,452) (1,695)
Stockholders’ equity 2,344 2,377