Chrysler 2007 Annual Report Download - page 165

164 Fiat Group Consolidated Financial Statements at December 31, 2007 - Notes
Income (expense) recognised directly in equity
This item consists of accumulated other comprehensive income, changes for the two years then ended are as follows:
Income (expense)
Cash flow Cumulative recognised
hedge Available-for-sale translation directly
(in millions of euros) reserve reserve differences in equity
Balances at January 1, 2006 (27) 136 846 955
Gains (losses) recognised directly in the cash flow hedge reserve 109 – – 109
Gains (losses) recognised directly in the available-for-sale reserve – 46 – 46
Gains (losses) on translation differences – – (551) (551)
Net (profit) loss (6) (12) (1) (19)
Balances at December 31, 2006 76 170 294 540
Gains (losses) recognised directly in the cash flow hedge reserve 262 – – 262
Gains (losses) recognised directly in the available-for-sale reserve – (32) – (32)
Gains (losses) on translation differences – – (96) (96)
Net (profit) loss (187) (123) (2) (312)
Balances at December 31, 2007 151 15 196 362
Minority interest
The minority interest in stockholders’ equity of 673 million euros (674 million euros at December 31, 2006) refers mainly to the
following companies consolidated on a line-by-line basis:
% held by minority stockholders
At December 31, 2007 At December 31, 2006
Italian companies:
Ferrari S.p.A. 15.0 15.0
Teksid S.p.A. 15.2 15.2
Foreign companies:
CNH Global N.V. 10.7 10.3
26. Provisions for employee benefits
Group companies provide post-employment benefits for their active employees and for retirees, either directly or by contributing
to independently administered funds. The way these benefits are provided varies according to the legal, fiscal and economic
conditions of each country in which the Group operates, the benefits generally being based on the employees’ remuneration and
years of service.
Group companies provide post-employment benefits under defined contribution and/or defined benefit plans.
In the case of defined contribution plans, the Group pays contributions to publicly or privately administered pension insurance
plans on a mandatory, contractual or voluntary basis. Once the contributions have been paid, the Group has no further payment
obligations. The entity recognise the contribution cost when the employee has rendered his service and includes this cost by
destination in Cost of sales, Selling, general and administrative costs and Research and development costs. In 2007, these expenses
totalled 1,243 million euros (1,161 million euros in 2006).