Chrysler 2004 Annual Report Download - page 110

FIAT GROUP
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An analysis of receivables by type is as follows:
At 12/31/2004 At 12/31/2003
(in millions of euros) Trade Other Total Trade Other Total
Trade receivables 3,928 – 3,928 3,758 – 3,758
Receivables from unconsolidated subsidiaries 36 16 52 53 23 76
Receivables from associated companies 813 51 864 742 22 764
Tax receivables – 1,237 1,237 – 1,550 1,550
Deferred tax assets – 2,161 2,161 – 1,879 1,879
Other receivables from:
Employees –3838 –3535
Social security agencies –2525 –1414
Other – 1,654 1,654 – 1,437 1,437
Total Other receivables – 1,717 1,717 – 1,486 1,486
Total Receivables 4,777 5,182 9,959 4,553 4,960 9,513
Trade receivables amount to 4,777 million euros, a growth of 224 million euros compared to 4,553 million euros at the end of 2003.
The increase is mainly attributable to Iveco and Ferrari-Maserati, which raised their levels of business in 2004, producing a growth in
revenues of 10% and 20%, respectively.
Trade receivables are shown net of allowances for doubtful accounts of 474 million euros at December 31, 2004 (476 million euros at
December 31, 2003). Movements in the allowance accounts during the year are as follows:
Use and Change in
At other the scope of At
(in millions of euros) 12/31/2003 Provisions changes consolidation 12/31/2004
Allowances for doubtful accounts 476 110 (106) (6) 474
Receivables from tax authorities principally refer to VAT and income taxes receivable from the Italian tax authorities and include the
tax credit relating to the advance payments of income tax on employee severance indemnities paid by Italian companies. The
portion of interest accrued on that receivable relating to the current year is recorded in Financial income and expenses.
“Other receivables from others” include deferred tax assets of 2,161 million euros (1,879 million euros at December 31, 2003),
accounted for in accordance with the accounting policies described previously. Additional information on these assets is provided in
Note 10 - Reserves for risks and charges, under Deferred income tax reserve.
6 Financial assets not held as fixed assets
Investments
Investments in other companies amount to 33 million euros at December 31, 2004 (32 million euros at December 31, 2003) and
consist of investments held by insurance companies.
Other securities
(in millions of euros) At 12/31/2004 At 12/31/2003 Change
Italian government securities 95 55 40
Other securities 2,089 3,790 (1,701)
Total Other securities 2,184 3,845 (1,661)
Italian government securities also include securities issued by other public entities and guaranteed by the Italian government.