Chrysler 2008 Annual Report Download - page 127

Fiat Group Consolidated Financial Statements at 31 December 2008126
The combined balances of the Group’s share in the principal
balance sheet items of joint ventures accounted for using the
equity method are as follows:
At At
31 December 31 December
(€ millions) 2008 2007
Non-current assets 2,332 2,228
Current assets 8,989 9,528
Total assets 11,321 11,756
Debt 8,190 8,468
Other liabilities 1,679 1,845
The combined balances of the Group’s share in the principal
income statement items of jointly controlled entities accounted
for using the equity method are as follows:
(€ millions) 2008 2007
Net revenues 5,576 5,693
Trading profit 221 224
Operating profit/(loss) 209 186
Profit before taxes 163 179
Net profit/(loss) 99 107
21 associates are accounted for using the equity method, while
29 associates, that in aggregate are of minor importance, and
are accounted for using the cost method. The main aggregate
amounts related to the Group interests in associates are as
follows:
At At
31 December 31 December
(€ millions) 2008 2007
Total assets 2,946 2,885
Liabilities 2,491 2,380
(€ millions) 2008 2007
Net revenues 677 668
Net profit/(loss) 23 35
The main aggregate amounts related to the Group interests in
associates measured at cost are as follows:
At At
31 December 31 December
(€ millions) 2008 2007
Total assets 114 145
Liabilities 76 89
(€ millions) 2008 2007
Net revenues 65 61
Net profit/(loss) 41
The following acquisitions were made in 2008:
On 20 March 2008, as part of an agreement for the
purchase of a factory in Campo Largo (Brazil), FPT Powertrain
Technologies fully acquired Tritec Motors Limitada
from Chrysler L.L.C. and subsequently changed its name
to FPT Powertrain do Brasil – Industria e Comércio de Motores
Ltda. The Group completed the purchase accounting
for this acquisition in the second quarter of 2008, a process
which included converting the consolidated financial
statements of the acquired entity to IFRS, and began
consolidating the investment on a line-by-line basis on
1 April 2008.
As part of the shareholder restructuring for the joint ventures
between FPT, CNH and Cummins in the area of diesel engines,
during the third quarter of 2008 the Group acquired the
remaining one-third of the shares in EEA (European Engine
Alliance) which it didn’t already own. At the same time, CNH
sold its interest in the 50/50 joint venture Consolidated Diesel
Company.
The following divestitures were made in 2008:
The investments in ITS-GSA Fiat Group France S.A.S.,
ITS-GSA Deutschland GmbH and ITS-GSA U.K. Limited were
disposed of during the second quarter of 2008; these had
already been classified as assets held for sale in the
Consolidated financial statements for the year ended
31 December 2007.