Chrysler 2008 Annual Report Download - page 288

14. Other non-current assets
At 31 December 2008, non-current assets totalled €244 thousand, a net increase of €128 thousand over 31 December 2007, and
consisted of amounts receivable from tax authorities and employees beyond 12 months.
15. Trade receivables
At 31 December 2008, Trade receivables amounted to €185,292 thousand, an increase of €4,311 thousand over 31 December 2007,
and included the following:
At At
(€ thousands) 31 December 2008 31 December 2007 Change
Third parties
- Receivables 131,537 171,042 (39,505)
- Allowance for doubtful accounts (228) (228) –
Total third parties 131,309 170,814 (39,505)
Intercompany trade receivables 53,983 10,167 43,816
Total Trade receivables 185,292 180,981 4,311
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 24). At 31 December 2008, factored receivables totalled €35,683 thousand
and relate to work completed on the Novara-Milano rail line. These receivables remain on–balance sheet with an offsetting entry to
Advances from factoring companies (see Note 25), as required under IAS 39.
Intercompany trade receivables included €52,800 thousand receivable from Fiat Group Marketing and Corporate Communication
S.p.A. (formerly Fiat Information & Communication Services S.c.p.A.), deferred until 2009, in consideration for the sale of the
"FIAT" brand (see Note 7).
The allowance for doubtful accounts has been calculated on the basis of an assessment of the risk on a number of minor
receivables from others.
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. Statutory Financial Statements at 31 December 2008 287