Chrysler 2007 Annual Report Download - page 199

■In August 2007 the Group acquired the entire ownership of Teksid Aluminum S.r.l., leading to the recognition of a goodwill for 7
million euros. This goodwill continues to be recognised in the balance sheet at December 31, 2007 since the acquired company is
capable of achieving a high level of profitability, synergies from the acquisition are expected to provide value and additional
benefits will arise from the purchase. The IFRS book value of the acquiree’s assets and liabilities at the acquisition date and
immediately after the acquisition were as follows:
IFRS book value
IFRS book value at immediately
(in millions of euros) the acquisition date after the acquisition
Non current assets 67 74
Current assets 43 43
Total assets 110 117
Liabilities 117 117
Contingent liabilities ––
■On December 6, 2007, the Group acquired the entire ownership of the Ergom group which carries out its business in the
automotive sector. The Ergom group has also been excluded from consolidation due to a lack of the information necessary to
prepare these notes in a consistent manner. For the sake of completeness a summary balance sheet at December 31, of the Group,
in which the Ergom Group is consolidated on a line-by-line basis, is provided in the following table and compared with the
published balance sheet of the Group at the same date:
Effect of the Fiat Group
Fiat Group line-by-line balance sheet
balance consolidation of including the
(in millions of euros) sheet the Ergom group Ergom group
Non current assets 22,312 382 22,694
Current assets 37,741 (136) 37,605
Assets held for sale 83 – 83
Total assets 60,136 246 60,382
Stockholders’ equity 11,279 1 11,280
Debt 10,425 20 10,445
Other liabilities 38,397 225 38,622
Liabilities held for sale 35 – 35
Total stockholders’ equity and liabilities 60,136 246 60,382
As may be seen in the above table consolidating the Ergom group on a line-by-line basis in the consolidated financial statements
of the Group would not have had any significant effect on the net result or stockholders’ equity.
If the acquisition date for these transactions had been January 1, 2007, consolidated revenues would have increased by 118 million
euros, while net income for the period would have remained substantially unchanged.
Fiat Group Consolidated Financial Statements at December 31, 2007 - Notes198