Chrysler 2007 Annual Report Download - page 281

Intercompany receivables for consolidated IRES tax arise from the tax calculated on the taxable income contributed by the Italian
subsidiaries participating in the national tax consolidation programme.
IRES tax receivables include receivables that the Italian subsidiaries participating in the national tax consolidation programme
transferred to Fiat S.p.A. in the 2007 fiscal year and in previous fiscal years. At December 31, 2007 factored credits for which a
refund has been claimed amounted to 234,693 thousand euros (230,142 thousand euros at December 31, 2006) and were
recognised as such in the financial statements, with a corresponding liability recorded in the balance sheet under Advances on
factored receivables (see Note 24), pursuant to IAS 39.
At December 31, 2007, interest recognised on VAT receivables for which refund has been claimed (pro-rata portion for the
consolidated VAT) totals 2,623 thousand euros (14,019 thousand euros at December 31, 2006) while that recognised on IRES tax
receivables (almost totally factored) amounts to 20,517 thousand euros (15,531 thousand euros at December 31, 2006).
The carrying amount of Other current receivables is deemed to approximate their fair value.
Almost all Other current receivables are due within one year.
17. Cash and cash equivalents
Cash and cash equivalents consist of the following:
At At
(in thousands of euros) December 31, 2007 December 31, 2006 Change
Cash at banks and post offices 497 608 (111)
Cheques and cash in hand 27 –27
Total Cash and cash equivalents 524 608 (84)
The above figures related to on demand deposits in euros in the company's bank current accounts. The carrying amount of Cash
and cash equivalents is deemed to be in line with their fair value.
The credit risk relating to Cash and cash equivalents is insignificant since the counterparties are leading national and international
banks.
18. Stockholders' equity
Stockholders' equity amounts to 11,691,005 thousand euros at December 31, 2007, an increase of 1,317,477 thousand euros as
compared to December 31, 2006 resulting mostly from the profit for the year of 2,068,859 thousand euros.
Capital stock
Capital stock amounts to 6,377,263 thousand euros at December 31, 2007, which may be analysed as follows:
At At
(no. of shares) December 31, 2007 December 31, 2006
Shares issued and fully paid-up
– Ordinary shares 1,092,247,485 1,092,246,316
– Preference shares 103,292,310 103,292,310
– Savings shares 79,912,800 79,912,800
Total shares issued 1,275,452,595 1,275,451,426
Fiat S.p.A. Financial Statements at December 31, 2007 - Notes to the Financial Statements280