Chrysler 2007 Annual Report Download - page 279

The call option on Ferrari S.p.A. shares has been measured at the amount of the premium paid in October 2006 and relates to 5% of
the capital stock of Ferrari S.p.A. held by the Arab Mubadala Development Company PJSC fund. The option may be exercised from
January 1, 2008 to July 31, 2008 at a price of 303 euros per share (for a total of 122,776 thousand euros) less any dividend that may
be distributed. It has been recognised at cost since its fair value cannot be reliably measured.
Fees receivables for guarantees given are measured at the present value of the fees to be received in future years for guarantees
provided by the company (mainly for guaranteeing loans obtained by Group companies).
Debt securities consist of listed Italian State securities pledged to fund scholarship grants.
A breakdown of other financial assets by maturity date is as follows:
At At
(in thousands of euros) December 31, 2007 December 31, 2006
Other financial assets
due within one year 12,663 2,512
due after one year but within five years 6,187 17,578
due after five years 643 44
total 19,493 20,134
13. Other non-current assets
At December 31, 2007, Other non-current assets amount to 116 thousand euros and consist of amounts receivable from tax
authorities due after one year. The net decrease of 1,457 thousand euros is due to the collection of refunds over the year.
14. Trade receivables
At December 31, 2007, Trade receivables amount to 180,981 thousand euros, an increase of 26,289 thousand euros over December
31, 2006. They are due as follows:
At At
(in thousands of euros) December 31, 2007 December 31, 2006 Change
Third parties
- Receivables 171,042 152,512 18,530
- Allowance for doubtful accounts (228) (228) –
Total Third parties 170,814 152,284 18,530
Intercompany trade receivables 10,167 2,408 7,759
Total Trade receivables 180,981 154,692 26,289
Trade receivables from third parties mainly relate to amounts due from T.A.V. S.p.A. for the progress of works on high speed rail
sections during the latter part of 2006. These receivables match the trade payables resulting from the progress of the works to be
paid to the consortia CAV.E.T. and CAV.TO.MI. (see Note 23). The allowance for doubtful accounts has been calculated on the basis
of an assessment of the risk on a number of minor receivables.
Intercompany trade receivables mainly relate to licence agreements for the use of the Fiat trademark.
The carrying amount of trade receivables is deemed to approximate their fair value.
All trade receivables are due within one year and there are no significant overdue balances.
Fiat S.p.A. Financial Statements at December 31, 2007 - Notes to the Financial Statements278