Chrysler 2004 Annual Report Download - page 184

FIAT S.P.A.
03
182
In fact, in this case, any residual debt for the principal will be reimbursed in the form of ordinary shares of Fiat S.p.A. subscribed
by the banks, with the obligation that they be offered as an option to all Fiat stockholders.
■The resolutions for the capital increases servicing the stock option plans (28 million euros) have been revoked, as the Board
of Directors decided on June 26, 2003 to use ordinary treasury stock to be purchased for this purpose.
Additional paid-in capital
At December 31, 2004, there was no additional paid-in capital in consequence of its being used to cover the loss for fiscal 2003,
as resolved by the stockholders meeting of May 11, 2004.
Legal reserve
The legal reserve totaled 446,562 thousand euros, a decrease of 212,778 thousand euros from the prior year, in consequence
of its being used to cover the loss for fiscal 2003, as resolved by the stockholders meeting of May 11, 2004.
Treasury stock valuation reserve
The treasury stock valuation reserve totaled 26,413 thousand euros at December 31, 2004, with a decrease of 1,631 thousand euros
from the prior year, following the alignment of the stock to the stock option exercise value.
Other reserves
Extraordinary reserve
At December 31, 2004, the extraordinary reserve totaled 1,631 thousand euros, with a net decrease of 110,623 thousand euros from
the previous year in consequence of its being used to cover the loss for fiscal 2003 (112,254 thousand euros), as resolved by the
stockholders meeting of May 11, 2004, and the transfer of the writedown of the adjustment of the stock to the exercise value of the
stock options (1,631 thousand euros).
Reserve for purchase of treasury shares
At December 31, 2004, there was no reserve for purchase of treasury shares, in consequence of its being used to cover the loss
of fiscal 2003, as resolved by the stockholders meeting of May 11, 2004.
Out-of-period income reserve under Art. 55 of Presidential Decree No. 917 of December 22, 1986
(Art. 18 of Law No. 675 of August 12, 1977)
At December 31, 2004, there was no out-of-period income reserve under Art. 55 of Presidential Decree No. 917 of December 22,
1986 (Art. 18 of Law No. 675 of August 12, 1977), in consequence of its being used to cover the loss for fiscal 2003, as resolved by
the stockholders meeting of May 11, 2004.
Reserve for capital grants under Art. 102 of Presidential Decree No. 1523 of June 30, 1967
At December 31, 2004, there was no reserve for capital grants under Art. 102 of Presidential Decree No. 1523 of June 30, 1967,
in consequence of its being used to cover the loss for fiscal 2003, as resolved by the stockholders meeting of May 11, 2004.
Reserve for capital grants under Regional Law 19/84
At December 31, 2004, there was no reserve for capital grants under Regional Law 19/84, in consequence of its being used to cover
the loss for fiscal 2003, as resolved by the stockholders meeting of May 11, 2004.
Retained earnings
At December 31, 2004, there were no retained earnings, in consequence of their being used to cover the loss for fiscal 2003,
as resolved by the stockholders meeting of May 11, 2004.
In the tables at the end of the Notes to the Financial Statements are illustrated the following:
■tax treatment applicable to reserves and capital;
■origin, possibility of use, and possibility of distribution of items posted under stockholders equity.