Chrysler 2004 Annual Report Download - page 43

BREAKDOWN OF NET INDEBTEDNESS AND NET FINANCIAL POSITION BY ACTIVITY SEGMENT
At 12.31.2004 At 12.31.2003
Industrial Financial Industrial Financial
(in millions of euros) Consolidated Activities Activities Consolidated Activities Activities
Financial payables net of intersegment activities (18,743)(10,482)(8,261) (22,034) (11,531) (10,503)
Accrued financial expenses (523)(451)(72) (593) (416) (177)
Prepaid financial expenses 93 71 22 85 68 17
Cash 3,164 3,021 143 3,211 3,121 90
Securities 2,126 1,932 194 3,789 3,670 119
Net indebtedness (13,883)(5,909)(7,974) (15,542) (5,088) (10,454)
Financial receivables and lease contracts receivable 8,897 1,003 7,894 12,576 2,114 10,462
Accrued financial income 234 232 2 301 298 3
Deferred financial income (209)(34)(175) (363) (65) (298)
Net Financial Position (4,961)(4,708)(253) (3,028) (2,741) (287)
Activities column. However, funds that were transferred to
Financial Activities, were posted net of the relative intersegment
relationships, as shown in the table below.
41
Financial Review of the Fiat Group and Fiat S.p.A.
Cash and cash equivalents collected by the centralized cash
management during its activity have been recorded in the item
Financial payables net of intersegment activities in the Industrial
At 12.31.2004 At 12.31.2003
Industrial Financial Industrial Financial
(in millions of euros) Consolidated Activities Activities Consolidated Activities Activities
Financial payables to others due within 12 months 9,810 8,926 884 6,616 5,150 1,466
Financial payables to others due beyond 12 months 8,933 8,079 854 15,418 14,480 938
(Intersegment financial receivables) –(6,757)(234) – (8,459) (360)
Intersegment financial payables – 234 6,757 – 360 8,459
Financial payables net of intersegment activities 18,743 10,482 8,261 22,034 11,531 10,503
The Group’s net indebtedness (financial payables net of
intersegment payables, cash, and marketable securities)
decreased by a further 1,659 million euros in 2004 (from 15,542
million euros to 13,883 million euros). In particular:
■the net indebtedness of Industrial Activities increased by 821
million euros in consequence of the operating requirements
of the period (mainly the loss for the period and the increase
in working capital), and was partially offset by the collection
of financing and deposits included in financial receivables
at December 31, 2003;
■the net indebtedness of financial activities instead shows
a decrease of 2,480 million euros, reflecting lower financing
to the sales network of the Automobile Sector, the lower
amount of financing provided to suppliers and the sale
of the financial company of the Automobile Sector that
operated in the United Kingdom.