Chrysler 2008 Annual Report Download - page 321

Items arising from the domestic tax consolidation (see Notes 17 and 26) and from the consolidated VAT settlement procedure (see
Note 26) are reported in the above tables, 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 13 and 21) 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 brand to Fiat Group Automobiles S.p.A. and Fiat Automoveis S.A.– FIASA for a consideration
calculated as a percentage of turnover. At the end of the year, the FIAT brand was sold to Fiat Group Marketing & Corporate
Communication S.p.A. (see Note 7);
services provided by Fiat S.p.A. also through its executives at the premises of various Group companies (Iveco S.p.A., Magneti
Marelli S.p.A., Fiat Group Purchasing S.p.A., Fiat Powertrain Technologies S.p.A., Fiat Group Automobiles S.p.A., Ferrari 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 Group Marketing & Corporate
Communication S.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 27) on the issues of bonds and Billets de Trésorerie (mainly Fiat Finance
and Trade Ltd 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 16 and 25);
purchases of administrative, tax and corporate assistance and consultancy services (Fiat Services S.p.A.), public relations
services (Fiat Group Marketing & Corporate Communication S.p.A.), personnel and other management services (Fiat Servizi per
l’Industria S.c.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 FGI - Fiat Group International S.A.) and supervisory and internal audit services (Fiat-Revisione Interna S.c.r.l.).
Intercompany transactions in 2008 also related to management of the portfolio of investments in subsidiaries, whose effects on the
Company’s earnings and financial position were as described above, in particular:
receipt of dividends from subsidiaries (see Note 1);
reorganisation of the Group’s structure through the transfer of shareholdings in the Group’s principal industrial activities from the
subsidiary Fiat Partecipazioni S.p.A. to Fiat S.p.A. (see Note 12), as follows: Fiat Group Automobiles S.p.A. (100.00%), Fiat
Powertrain Technologies S.p.A. (100.00%), Magneti Marelli Holding S.p.A. (99.99%), Maserati S.p.A. (100.00%), Teksid S.p.A.
(84.79%), Teksid Aluminum S.r.l. (100.00%), Fiat Netherlands Holding N.V. (39.44%), Iveco S.p.A. (39.44%), in addition to the
associate company RCS Media Group S.p.A. (10.09%);
Fiat S.p.A. Statutory Financial Statements at 31 December 2008320