Chrysler 2007 Annual Report Download - page 310

Items arising from the national tax consolidation (see Notes 16 and 25) and from the consolidated VAT settlement procedure
(see Note 25) are reported in the above tables in the aggregate, as these do not represent actual trading between Group companies
and are carried out solely as part of the financial procedure permitted by tax laws and regulations governing the relations of Italian
Group companies with the tax revenue authorities. In a similar manner the asset and liability balances (each of the same amount)
relating to the valuation of financial guarantee contracts (see Notes 12 and 20) have also not been reported by individual
counterparty as they are not material, being only representative of the present value of the estimated commissions to be earned in
future years.
Details of the most significant transactions between Fiat S.p.A. and Group companies summarised in the above table are as follows:
■granting of a licence to use the Fiat trademark to Fiat Group Automobiles S.p.A. and Fiat Automoveis S.A. – FIASA for a
consideration calculated as a percentage of turnover;
■services provided by Fiat S.p.A. also through its executives at the premises of various Group companies (Fiat Group Automobiles S.p.A.,
Ferrari S.p.A., Iveco S.p.A., Magneti Marelli Holding S.p.A., Fiat Powertrain Technologies S.p.A., Publikompass S.p.A., Teksid S.p.A.,
Comau S.p.A. and other minor);
■lease of property or office space (Fiat Finance S.p.A., Fiat-Revisione Interna S.c.r.l., Fiat Information & Communication Services
S.c.p.A., Fiat Partecipazioni S.p.A. and other minor companies) and the recovery of directors' fees and expenses;
■provision of sureties and personal guarantees (see Note 26) on the issues of bonds and Billets de Trésorerie (mainly Fiat Finance
and Trade Ltd S.A. and Fiat Finance North America Inc.), bank loans (Banco CNH Capital S.A., Fiat Automoveis S.A., Fiat Finance
Canada Ltd and other minor), property rental payments (Fiat Group Automobiles S.p.A. and its subsidiaries) and credit facilities;
■management of current accounts, granting of loans, obtaining of short- and medium-term loans and financial assistance
(Fiat Finance S.p.A.);
■management of derivative financial instruments (Fiat Netherlands Holding N.V. and Fiat Finance S.p.A., see Notes 15 and 24);
■purchases of administrative, tax and corporate assistance and consultancy services (Fiat Services S.p.A. and KeyG Consulting
S.p.A.), public relations services (Fiat Information & Communication Services S.c.p.A.), personnel and other management services
(Fiat Servizi per l’Industria S.c.p.A.), ICT services (eSPIN S.p.A.), security services (Orione S.c.p.A. and Sirio S.c.p.A.), sponsorship,
advertising and promotional activities (Ferrari S.p.A. and Fiat France) and supervisory and internal audit services (Fiat-Revisione
Interna S.c.r.l.);
Intercompany transactions in 2007 related additionally to the management of the investments portfolio, which led to the effects on
the Company’s results and balance sheet previously described, and in particular:
■collection of dividends from subsidiaries (see Note 1);
■operations carried out to streamline and simplify the Group’s corporate structure, such as the capital contribution of the
investments in Magneti Marelli Holding S.p.A. (99.99%) and Teksid S.p.A. (84.79%) to the subsidiary Fiat Partecipazioni S.p.A.
(see Note 11);
■capital contributions to restore the financial position of subsidiaries (Comau S.p.A.), taking also into account the losses for the
year (see Note 11);
Fiat S.p.A. Financial Statements at December 31, 2007 - Notes to the Financial Statements 309