Chrysler 2004 Annual Report Download - page 115
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113
Consolidated Financial Statements at December 31, 2004 – Notes to the Consolidated Financial Statements
Minority interest
The minority interest in stockholders’ equity of 658 million euros (701 million euros at December 31, 2003) refers mainly to the
following companies consolidated on a line-by-line basis:
At 12/31/2004 At 12/31/2003
(% held by minority (% held by minority
stockholders) stockholders)
Italian companies:
Ferrari S.p.A. 44.0 44.0
Teksid S.p.A. 19.5 19.5
Foreign companies:
Fiat Auto Holdings B.V. 10.0 10.0
CNH Global N.V. 15.5 14.9
The minority interest percentage ownership in Fiat Auto Holdings B.V. includes the effects of the recapitalization of 5 billion euros
resolved by the Stockholders’ Meeting of Fiat Auto Holdings B.V. held April 23, 2003 and subscribed to by Fiat Partecipazioni S.p.A.
(the direct parent company of Fiat Auto Holdings B.V.) for 3 billion euros, whereas General Motors had not subscribed to its share of
the capital increase, as described in Note 14.
It should be pointed out that in accordance with the accounting policies described previously, the losses pertaining to General
Motors, the minority stockholder in Fiat Auto Holding B.V. (Automobile Sector), were allocated to General Motors up to the value of
its share of capital stock, and the excess, or deficit, that arose starting from the third quarter of 2002, was charged to the Group (202
million euros in 2004, 204 million euros in 2003 and 296 million euros in 2002).
10 Reserves for risks and charges
(in millions of euros) At 12/31/2004 At 12/31/2003 Change
Reserve for pensions and similar obligations 1,432 1,503 (71)
Income tax reserves:
Current income tax reserve 77 98 (21)
Deferred income tax reserve 197 211 (14)
Total Income tax reserves 274 309 (35)
Other reserves:
Warranty reserve 901 791 110
Restructuring reserves 408 471 (63)
Various liabilities and risk reserves 2,276 2,216 60
Total Other reserves 3,585 3,478 107
Insurance policy liabilities and accruals 91 89 2
Total Reserves for risks and charges 5,382 5,379 3