Chrysler 2009 Annual Report Download - page 164

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Interest cost and other financial expenses may be analysed as follows:
(€ million) 2009 2008
Interest expenses on bonds 511 427
Bank interest expenses 323 281
Interest expenses on trade payables 4 7
Commission expenses 19 17
Other interest cost and financial expenses 580 639
Total Interest cost and other financial expenses 1,437 1,371
Result from investments10.
This item, amounting to฀€27 million (€162 million in 2008), includes the Group’s share of฀€18 million (€133 million in 2008) in the net profit or loss of the
investees accounted for using the equity method, reversals of impairment losses of฀€9 million (reversal of impairment losses of฀€29 million in 2008), any
impairment losses, accruals to the Investment provision and dividend income.
In detail the item includes (amounts in฀€ million): Fiat Group Automobiles Sector companies 96 (93 in 2008), entities of Agricultural and Construction
equipment Sector companies -26 (38 in 2008); entities of Trucks and Commercial Vehicles -30 (34 in 2008, mainly arising from the release to income of a
provision for risks no longer existing in connection with a Chinese investee); other companies -13 (-3 in 2008).
Income taxes11.
Income taxes consist of the following:
(€ million) 2009 2008
Current taxes:
IRAP 99 168
Other taxes 545 755
Total Current taxes 644 923
Deferred taxes for the period:
IRAP (33) (65)
Other taxes (154) (415)
Total Deferred taxes (187) (480)
Taxes relating to prior periods 24 23
Total Income taxes 481 466
The decrease in current taxes in 2009 over the previous year is the result of lower taxable profits in the foreign companies and (for IRAP) in the Italian
companies.
The decrease in deferred tax income is primarily due to the recognition of lower amounts of deferred tax assets on temporary differences arising during the
year and the write-off of deferred tax assets in cases where recovery is no longer considered possible.
Taxes relating to prior periods include the cost arising from certain disputes with tax Authorities.
The effective tax rate for 2009 (excluding current and deferred IRAP) is not representative because with respect to a consolidated book loss, tax expenses
have been incurred. The effective tax rate was 16.6% in 2008.