Chrysler 2005 Annual Report Download - page 127

126 Fiat Group Consolidated Financial Statements at D ecember 31, 2005 - N otes to the Consolidated Financial Statements
02 Fiat Group
Income (expense)recognised directly in equity
This item consists of accumulated other comprehensive income at December 31, 2005;changes for the two years then ended are as follows:
Cumulative Income (expense)
Cash flow hedge Available-for-sale translation recognised
(in millions of euros) reserve reserve differences directly in equity
Balances at January 1, 2004 2 29 – 31
Gains (losses) recognised directly in the cash flow hedge reserve 25 – – 25
Gains (losses) recognised directly in the available-for-sale reserve – 46 – 46
Exchange gains (losses) on the translation of foreign operations – – (70) (70)
N et profit (loss) (5) – – (5)
Balances at D ecember 31, 2004 22 75 (70) 27
Gains (losses) recognised directly in the cash flow hedge reserve 3 – – 3
Gains (losses) recognised directly in the available-for-sale reserve – 61 – 61
Exchange gains (losses) on the translation of foreign operations – – 861 861
N et profit (loss) (41) – – (41)
Balances at December 31, 2005 (16)136 791 911
Minority interest
The minority interest in stockholders’ equity of 732 million euros (624 million euros at December 31, 2004) refers mainly to the following
companies consolidated on a line-by-line basis:
% held by minority stockholders
At December 31, 2005 At December 31, 2004
Italian companies:
Ferrari S.p.A. 44.0 44.0
Teksid S.p.A. 15.2 19.5
Foreign companies:
Fiat Auto Holdings B.V. –10.0
CN H Global N .V. 16.1 15.5
Following the finalisation of the Termination Agreement with General Motors on February 13, 2005, the Group reacquired the shares in Fiat
Auto H oldings B.V. held until then by minorities and at D ecember 31, 2005 fully owns the company.