Chrysler 2006 Annual Report Download - page 154

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Effects of transition to IFRS on the Balance Sheet at December 31, 2005
(in millions of euros) Italian GAAP Reclassifications Adjustments IAS/IFRS
Intangible assets 28 – (28) – Intangible assets
Property, plant and equipment 41 (1) – 40 Property, plant and equipment
Equity investments 4,983 – 135 5,118 Investments
Other securities – 5 5 Other financial assets
– – – Deferred tax assets
5 – 5 Other non-current assets
Total fixed assets 5,052 4 112 5,168 Total Non-current assets
Inventories 8,431 (8,635) 204 – Inventories
Trade receivables 208 8 – 216 Trade receivables
Receivables from subsidiaries 113 (113) –
Financial receivables from subsidiaries 3,059 9 8 3,076 Current financial receivables
Taxes receivable 103 (103) –
Deferred tax assets –––
Other receivables 35 208 557 800 Other current receivables
Treasury stock 28 – (28)
Cash on hand – – – – Cash and cash equivalents
Total current assets 11,977 (8,626) 741 4,092 Total Current Assets
Accrued income and prepaid expenses 13 (13) –
–––Assets held for sale
TOTAL ASSETS 17,042 (8,635) 853 9,260 TOTAL ASSETS
Total stockholders’ equity 7,689 – 296 7,985 Total stockholders’ equity
Provisions for termination indemnities and Provisions for employee benefits
similar obligations 22 12 (5) 29 and other non-current provisions
Other provisions 31 (31) –
– – – Deferred tax liabilities
– 5 5 Non-current debt
17 – 17 Other non-current liabilities
Total provisions for risks and charges 53 (2) – 51 Total Non-current liabilities
Provision for employee severance indemnities 12 (12) –
Provisions for employees and
31 – 31 other current provisions
Trade payables 380 5 – 385 Trade payables
Payable to subsidiaries 223 (223) –
Borrowings from banks – – 557 557 Current debt
Advances 8,657 (8,657) –
Payables to social security authorities 2 (2) –
Other payables 23 228 – 251 Other payables
Taxes payable 3 (3) –
Total payables 9,288 (8,621) 557 1,224 Total Current Liabilities
Accrued expenses and deferred income – – –
––Liabilities held for sale
TOTAL STOCKHOLDERS’ EQUITY TOTAL STOCKHOLDERS’ EQUITY
AND LIABILITIES 17,042 (8,635) 853 9,260 AND LIABILITIES
Appendix Transition of the Parent Company Fiat S.p.A. to International Financial Reporting Standards (IFRS) 305Appendix Transition of the Parent Company Fiat S.p.A. to International Financial Reporting Standards (IFRS)304
Reconciliation of Stockholders’ Equity
(in millions of euros) At January 1, 2005 At December 31, 2005
Stockholders’ equity in accordance with Italian GAAP 4,466 7,689
Measurement of contract work in progress using the percentage of completion method A176 204
Employee benefits B3 5
Write-off of deferred costs (excluding the financial expenses of the “Mandatory Convertible Facility”) C(42) (28)
Treasury stock D(26) (28)
Measurement of derivative financial instruments E(1) 8
Measurement at fair value of the investment in Mediobanca F75 135
Recognition and measurement of financial liabilities (“Mandatory Convertible Facility”) G5–
Total adjustments 190 296
Stockholders’ equity in accordance with IAS/IFRS 4,656 7,985
Details of the schedules regarding the effects on the Balance Sheet of the transition to IFRS
The final pages of this Appendix contain explanatory notes on the principal reconciling items between Italian accounting principles
and IFRS, cross-referenced in the following by the use of letters.
Intangible assets
Adjustments
(in millions of euros) At January 1, 2005 At December 31, 2005
Write-off of deferred costs (excluding the financial expenses
regarding the “Mandatory Convertible Facility”) C(42) (28)
Recognition and measurement of financial liabilities (the “Mandatory Convertible Facility”) G(8) –
(50) (28)
Property,plant and equipment
Reclassifications
(in millions of euros) At January 1, 2005 At December 31, 2005
to “Trade receivables” for minor adjustments and reclassifications (1) (1)
(1) (1)
Investments
Adjustments
(in millions of euros) At January 1, 2005 At December 31, 2005
Measurement at fair value of the investment in Mediobanca F75 135
75 135
Other financial assets
Adjustments
(in millions of euros) At January 1, 2005 At December 31, 2005
Recognition of financial guarantee contracts M75
75