Chrysler 2005 Annual Report Download - page 161

160 Appendix 1 Transition to International Financial Reporting Standards (IFRS)
02 Fiat Group
Reconciliation of the N et result
(in millions of euros) 2004
N et result before minority interest under Italian GAAP (1,548)
Development costs A436
Employee benefits B94
Business combinations C53
Revenue recognition – sales with a buy-back commitment D1
Revenue recognition – other E(20)
Scope of consolidation F3
Property, plant and equipment G14
W rite-off of deferred costs H19
Impairment of assets I(114)
Reserves for risks and charges L(67)
Recognition and measurement of derivatives M(454)
Treasury stock N–
Adjustments to the valuation of investments in associates P(15)
Sales of receivables Q(4)
O ther adjustments 2
Accounting for deferred income taxes R21
N et result before minority interest under IAS/IFRS (1,579)
Details of the effects of transition to IFRS on the income statement
The final section of this Appendix contains explanatory notes describing the main reconciling items between Italian GAAP and IFRS, which are
cross referenced to the following detailed analysis by means of the letters associated with each line item.
N et revenues
Adjustments
(in millions of euros) 2004
Revenue recognition - sales with a buy-back commitment D(1,103)
Scope of consolidation F16
Reserve for risks and charges - vehicle sales incentives L(10)
Sales of receivables Q187
O ther adjustments (156)
(1,066)
Cost of sales
Reclassifications
(in millions of euros) 2004
from Financial income (expenses) for rental companies included in Financial Services 36
from Selling, general and administrative costs - change in income statement format 48
from O ther income (expenses) - change in income statement format 524
to Financial income (expenses) for interest costs on defined benefit plans (127)
from Financial income (expenses) interest compensation to financial services on dealer free period 194
675