Chrysler 2008 Annual Report Download - page 151

Investments
The changes in Investments in 2008 and in 2007 are set out below:
At Change in Disposals At
31 December Revaluations/ Acquisitions, the scope of Translation and other 31 December
(€ millions) 2007 (Write-downs) Capitalisations consolidation differences changes 2008
Investments in unconsolidated subsidiaries 70 (3) 13 (20) 1 (4) 57
Investments in jointly controlled entities 1,411 106 59 4 (54) (149) 1,377
Investments in associates 497 25 – (4) 22 (28) 512
Investments in other companies 54 3 – – – (19) 38
Total Investments 2,032 131 72 (20) (31) (200) 1,984
At Change in Disposals At
31 December Revaluations/ Acquisitions, the scope of Translation and other 31 December
(€ millions) 2006 (Write-downs) Capitalisations consolidation differences changes 2007
Investments in unconsolidated subsidiaries 47 (2) 38 (4) (2) (7) 70
Investments in jointly controlled entities 1,213 163 46 55 4 (70) 1,411
Investments in associates 503 39 1 (5) (7) (34) 497
Investments in other companies 315 – – 2 – (263) 54
Total Investments 2,078 200 85 48 (5) (374) 2,032
Revaluations and Write-downs consist of adjustments to the carrying value of investments accounted for using the equity method
for the Group’s share of the profit or loss for the year of the investee company for an amount of €133 million in 2008 (€210 million
in 2007). Write-downs in 2008 and in 2007 also include impairment losses recognised during the period for investments accounted
for under the cost method.
The decrease of €20 million (an increase of €48 million in 2007) shown in the column Change in the scope of consolidation
includes the consolidation of certain minor subsidiaries. In 2007, this item mostly consisted of an increase of €55 million arising
from the establishment of the equal share joint venture with Tata Motors, Fiat India Automobiles Private Limited.
Acquisitions and capitalisations amounting to €72 million consist mainly of the capital increase of €43 million made by the 50/50
jointly controlled entity Fiat India Automobiles Private Limited and the capitalisations of other, more minor, companies. In 2007,
this item consisted mainly of €39 million for the capital increase made by the jointly controlled Chinese entity SAIC Iveco
Commercial Vehicle Investment Company Limited, €23 million for capital increases in certain minor subsidiaries and €4 million due
to the establishment of new subsidiaries.
Disposals and other changes of €200 million in 2008 consist of a decrease of €37 million arising from the disposal of the
investment in Consolidated Diesel Company (which was carried out in the third quarter of 2008) and of €8 million arising from the
disposal of certain minor investments; a decrease of €84 million as the result of the distribution of dividends by companies
accounted for using the equity method (€81 million in 2007); the fair value adjustment of investment classified as available-for-sale
of €15 million and other decreases of €56 million (including negative changes in the cash flow hedge reserve of Tofas-Turk
Otomobil Fabrikasi Tofas A.S. for €28 million and that of Fiat Group Automobiles Financial Services S.p.A. for €16 million).
Fiat Group Consolidated Financial Statements at 31 December 2008150