Chrysler 2003 Annual Report Download - page 87

86 Fiat Group Consolidated Financial Statements at December 31, 2003
Notes to the Consolidated Financial Statements
Receivables
At 12/31/2003 At 12/31/2002
Of which Of which
Due within Due beyond due beyond Due within Due beyond due beyond
(in millions of euros) one year one year 5 years Total one year one year 5 years Total
Receivables from others 425 22919 28 2 47
Total Receivables 4 25 2 29 19 28 2 47
Financial receivables held as fixed assets are shown net of the allowances for doubtful accounts of 5 million euros (4 million euros
at December 31, 2002), with a provision of 1 million euros during the year 2003.
Financial receivables recorded in the financial statements at December 31, 2003 and 2002 approximate their fair values which have
been calculated using the present value method, based on a discount rate which reflects market conditions, the duration and the
risk of insolvency.
Other securities
(in millions of euros) At 12/31/2003 At 12/31/2002 Change
Other securities 56 2,445 (2,389)
Other securities are shown in the financial statements net of the allowance for doubtful accounts of 32 million euros (2 million euros
at December 31, 2002). The writedown refers to the adjustment of the securities to estimated realizable value.
Other securities at December 31, 2002 principally included marketable government securities and bonds held by the insurance
companies for 2,311 million euros.
At December 31, 2003, the carrying values are substantially in line with fair value.
Treasury stock
At 12/31/2003 At 12/31/2002
Number Cost Number Cost
of shares (in millions of shares (in millions
(thousands) of euros) (thousands) of euros)
Fiat S.p.A. shares held by subsidiaries:
Ordinary – – 15,838 222
Savings – – 1,085 9
Total Treasury stock ––16,923 231
At December 31, 2003, no treasury stock is recorded under fixed assets (see Note 6 – Financial assets not held as fixed assets).
Treasury stock at December 31, 2002 was entirely held by the companies in the Toro Assicurazioni Group.
Finance lease contracts receivable
Accumulated
Foreign Change in Disposal amortization and
Net amount Financial exchange the scope of and Other Net amount writedowns
(in millions of euros) 12/31/2002 Additions amortization effects consolidation changes 12/31/2003 12/31/2003
Finance lease contracts receivable 2,947 1,112 (528) (31) (1,485) (218) 1,797 1,036
Finance lease contracts receivable refer to vehicles sold by the Automotive Sectors under finance leases. The reduction of 1,150
million euros compared to December 31, 2002 is principally due to the Change in the scope of consolidation following the sale
of the majority interest in Fidis Retail Italia.
Finance lease contracts receivable do not include vehicles on operating leases, which are included under Property, plant and
equipment.