Chrysler 2006 Annual Report Download - page 87

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Fiat Group Consolidated Financial Statements at December 31, 2006 -Notes 171
The following is reconciliation between Net financial position as presented in the above table and Net debt as presented in the
Report on Operations:
(in millions of euros) At December 31, 2006 At December 31, 2005
Consolidated net debt as presented in the Report on Operations (11,836) (18,523)
Less: Current financial receivables, excluding those due from jointly controlled financial
services companies amounting to 143 million euros at December 31, 2006 11,605 15,973
Net financial position (231) (2,550)
Reference should be made to Notes 19, 21, 22 and 23 and the information provided in Note 28 for a further analysis of the items in
the table.
29. Trade payables
An analysis by due date of trade payables at December 31, 2006 is as follows:
At December 31, 2006 At December 31, 2005
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 payables 12,602 1 – 12,603 11,773 4 – 11,777
The carrying amount of Trade payables is considered in line with their fair value at the balance sheet date.
30. Other payables
An analysis of Other payables at December 31, 2006 and 2005 is as follows:
(in millions of euros) At December 31, 2006 At December 31, 2005
Current tax payables 311 388
Others:
- Payables to personnel 496 483
-Tax payables 690 581
- Social security payables 341 354
- Advances on buy-back agreements 2,370 2,171
- Other minor 811 844
Total Others 4,708 4,433
Total Other payables 5,019 4,821
31, 2006 (872 million euros at December 31, 2005). In addition, it is recalled that the group’s assets include current receivables and
set-aside cash to be used for settling asset-backed financing of 8,344 million euros (10,729 million euros at December 31, 2005).
Net financial position
In compliance with Consob Regulation issued on July 28, 2006 and in conformity CESR’sRecommendations for the consistent
implementation of the European Commission’s Regulation on Prospectuses issued on February 10, 2005, the Net financial position
of the Fiat Group is as follows:
(in millions of euros) At December 31, 2006 At December 31, 2005
Liquidity (a): 7,965 6,973
- Cash and cash equivalents 7,736 6,417
- Cash and cash equivalents included as Assets held for sale 5–
- Securities held for trading (Current securities) 224 556
Current financial receivables (Receivables from financing activities) (b): 11,743 15,973
-from jointly controlled financial services entities 143 –
- from other related parties 48 73
- from third parties 11,552 15,900
Current financial receivables included as Assets held for sale (c) 5–
Other current financial assets (Other financial assets) (d) 382 454
Debt (e): 20,188 25,761
- due to related parties 734 365
- due to third parties 19,454 25,396
Debt included as Liabilities held for sale (f) 33 –
Other current financial liabilities (Other financial liabilities) (g) 105 189
Net financial position (h) = (a+b+c+d-e-f-g): (231) (2,550)
- due to related parties (543) (292)
-due to third parties 312 (2,258)
The item Receivables from financing activities includes the entire portfolio of the financial services entities, classified as current
assets as they will be realised during the normal operating cycle of these companies.
Fiat Group Consolidated Financial Statements at December 31, 2006 -Notes 170