Chrysler 2005 Annual Report Download - page 108

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Fiat Group Consolidated Financial Statements at December 31, 2005 - N otes to the Consolidated Financial Statements
16. Investments and other financial assets
(in millions of euros) At December 31, 2005 At December 31, 2004
Investments:
Investments accounted for using the equity method 1,762 3,490
Investments valued at fair value with changes directly in equity 227 168
Investments valued at cost 101 138
Total Investments 2,090 3,796
Receivables 113 112
O ther securities 130 117
Total Investments and other financial assets 2,333 4,025
Investments
The changes in Investments in 2005 are set out below:
At Acquisitions Change in Disposals At
December Revaluations/ and the scope of Translation and other D ecember
(in millions of euros) 31, 2004 (W rite-downs) capitalisations consolidation differences changes 31, 2005
Unconsolidated subsidiaries 32 (3) – (3) 2 18 46
Jointly controlled entities 1,790 39 9 (1,210) 95 (18) 705
Associates 1,740 46 12 137 24 (901) 1,058
O ther companies 234 (7) 23 (7) – 38 281
Total Investments 3,796 75 44 (1,083) 121 (863) 2,090
Revaluations and W rite-downs consist of adjustments to the carrying value of investments accounted for using the equity method for the
Group’s share of the result for the year of the investee company (115 million euros in 2005 and 153 million euros in 2004).W rite-downs also
include any loss in value in investments accounted for under the cost method.
Changes in the scope of consolidation of -1,083 million euros mainly relate to the consolidation on a line by line basis of Fiat Powertrain B.V.
(previously Fiat-GM Powertrain), consolidated using the equity method until D ecember 31, 2004, resulting in a reduction of 1,213 million euros.
This reduction has been partially offset by an increase of 125 million euros arising from the equity method valuation of the investment in the
associate Iveco Finance H oldings Limited, no longer consolidated on a line-by-line basis following the sale by the Fiat Group of 51% of the
company to Barclays Mercantile Business Finance Ltd.
Disposals and other changes of -863 million euros are made up as follows: a decrease of 856 million euros arising from the sale of the
investment in Italenergia Bis S.p.A., as described in N ote 6; positive fair value adjustments of 59 million euros arising from the investment in
Mediobanca S.p.A.; dividends of 47 million euros distributed by companies accounted for using the equity method and other, minor decreases
of 19 million euros.