Chrysler 2004 Annual Report Download - page 196

FIAT S.P.A.
03
194
Interest and other financial expenses
Interest and other financial expenses amounted to 210,222 thousand euros in 2004, or 12,921 thousand euros less than in 2003.
A breakdown is provided below:
(in thousands of euros) 2004 2003
Subsidiaries
Interest and other financial expenses paid to:
Fiat Ge.Va. S.p.A. 8,327 15,010
Intermap (Nederland) B.V. 2,379 844
Total 10,706 15,854
Fees paid to:
Fiat Ge.Va. S.p.A. 151 12
Interest on derivative financial instruments 6,830 906
Miscellaneous –15
Total subsidiaries 17,687 16,787
Others
Interest paid on convertible facility 109,511 123,489
Fees paid on convertible facility 70,200 70,200
Interest and other financing charges paid to banks 820
Interest paid to other lenders 444 327
Interest expenses and charges for the sale of receivables 11,763 11,807
Charges for stock listings, dividend payments and other charges 609 513
Total others 192,535 206,356
Total interest and other financial expenses 210,222 223,143
Foreign exchange gains and losses
This is a new item added in compliance with the provisions of Legislative Decree no. 6 of January 17, 2003.
It refers to net foreign exchange gains totaling 283 thousand euros in 2004, with a net decrease of 321 thousand euros from 2003.
The item includes a net loss of 7 thousand euros that has not yet been realized, deriving from an adjustment of receivables and
payables denominated in foreign currency at the spot exchange rates on the closing date of the fiscal year.
18 Adjustments to financial assets
Writedowns of equity investments
This item totaled 1,639,153 thousand euros in 2004 and included Fiat Partecipazioni S.p.A. (1,623,973 thousand euros), Isvor Fiat
S.c.p.A. (9,547 thousand euros), Fiat Finance North America Inc. (3,976 thousand euros), and Fiat USA Inc. (1,657 thousand euros).
In 2003, writedowns included Fiat Netherlands Holding N.V. (1,000,425 thousand euros), Fiat Partecipazioni S.p.A. (1,210,084 thousand
euros), Magneti Marelli Holding S.p.A. (144,221 thousand euros), Fiat USA Inc. (9,747 thousand euros), Istituto Europeo di Oncologia
S.r.l. (2,939 thousand euros), Isvor Fiat S.c.p.A. (4,321 thousand euros), Fiat International S.p.A. (1,279 thousand euros), Fiat Se.p.In.
S.c.p.A. (569 thousand euros), and Fiat Revisione Interna S.c.r.l. (41 thousand euros).
Writedowns of securities among current assets other than equity investments
This item amounted to 1,631 thousand euros and consists of the adjustment of the book value of treasury stock to the stock option
exercise price.
In 2003, it amounted to 5,076 thousand euros.