Chrysler 2007 Annual Report Download - page 121

120 Fiat Group Consolidated Financial Statements at December 31, 2007 - Notes
In 2006 this item, amounting to 607 million euros, included the gains realised on the establishment of the FAFS joint venture (463
million euros), as well as the gains on the sale of Banca Unione Credito - B.U.C. (80 million euros), Immobiliare Novoli S.p.A. (39
million euros), Machen Iveco Holding SA, which held a shareholding of 51% in Ashok Leyland Ltd (23 million euros), Atlanet S.p.A.
(22 million euros) and the residual interest in IPI S.p.A. (9 million euros). The item also included an amount of 29 million euros for
the loss at that time expected to be incurred on the disposal of Meridian Technologies Inc. which was finalised on March 2, 2007.
7. Restructuring costs
The restructuring costs of 105 million euros in 2007 were incurred mainly by Fiat Group Automobiles (40 million euros) CNH – Case
New Holland (30 million euros) and Comau (21 million euros).
The restructuring costs of 450 million euros in 2006 were incurred mainly by Comau (179 million euros) following an intensive
reshaping and restructuring process that was started during the third quarter of 2006, CNH – Case New Holland (145 million euros),
FPT Powertrain Technologies (60 million euros), Magneti Marelli (16 million euros) and entities of Business Solutions sectors
transferred into Other and Holdings (12 million euros).
8. Other unusual income (expenses)
Net expenses of 166 million euros were incurred in 2007 (47 million euros in 2006). These expenses mainly refer to the
rationalisation of a final set of strategic Group suppliers, some of which were acquired in 2007 (17 million euros in 2006).
In 2006, included in this item, amongst other things, was the impairment of goodwill of 26 million euros relating to certain of
Comau’s European operations, which resulted from the redefinition and restructuring of that Sector’s operations.
9. Financial income (expenses)
In addition to the items included in the specific lines of the income statement, Net financial income (expenses) in 2007 also
includes the income from financial services companies included in Net revenues for 979 million euros (1,077 million euros in 2006)
and the costs incurred by financial services companies included in Interest cost and other financial charges from financial services
companies included in Cost of sales for 756 million euros (897 million euros in 2006).
Reconciliation to the income statement is provided at the foot of the following table.