Chrysler 2005 Annual Report Download - page 112

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Fiat Group Consolidated Financial Statements at December 31, 2005 - N otes to the Consolidated Financial Statements
19. Current receivables
The composition of the caption and the analysis by due date is as follows:
At December 31, 2005 At December 31, 2004
due between due between
due within one and due beyond due within one and due beyond
(in millions of euros) one year five years five years Total one year five years five years Total
Trade receivables 4,871 66 32 4,969 5,462 18 11 5,491
Receivables from financing activities 10,796 5,007 170 15,973 11,316 5,691 491 17,498
O ther receivables 2,600 292 192 3,084 2,457 228 49 2,734
Total Current receivables 18,267 5,365 394 24,026 19,235 5,937 551 25,723
At December 31, 2005 Current receivables include receivables sold and financed through both securitisation and factoring transactions of
9,604 millions of euros (9,596 millions of euros at December 31, 2004) which do not meet IAS 39 derecognition requirements.These
receivables are recognised as such in the Group financial statements even though they have been legally sold;a corresponding financial liability
is recorded in the consolidated balance sheet as Asset-backed financing (see N ote 28).
Trade receivables
Trade receivables are shown net of allowances for doubtful accounts of 524 million euros at December 31, 2005 (468 million euros at D ecember
31, 2004), determined on the basis of historical losses on receivables. Movements in the allowance accounts during the year are as follows:
At Use and Change in At
December other the scope of D ecember
(in millions of euros) 31, 2004 Provision changes consolidation 31, 2005
Allowances for doubtful accounts 468 136 (81) 1 524
The carrying amount of Trade receivables is considered in line with their fair value at the date.
At December 31, 2005, trade receivables of 153 million euros were pledged as security for loans obtained (109 million euros at
December 31, 2004).
Receivables from financing activities
Receivables from financing activities include the following:
(in millions of euros) At D ecember 31, 2005 At D ecember 31, 2004
Retail financing 6,655 6,763
Finance leases 716 2,120
Dealer financing 6,804 5,360
Supplier financing 335 838
Receivables from banking activities 1,147 1,270
Financial receivables from companies under joint control, associates and unconsolidated subsidiaries 70 630
O ther 246 517
Total Receivables from financing activities 15,973 17,498