Chrysler 2009 Annual Report Download - page 275

FIAT S.P.A.
STATUTORY
FINANCIAL
STATEMENTS AT
31 DECEMBER
2009
274
STATEMENT OF
CASH FLOWS
STATEMENT OF CASH FLOWS(*)
(€฀thousand) 2009 2008
A) CASH AND CASH EQUIVALENTS AT BEGINNING OF THE YEAR 495 524
B) CASH FROM/(USED IN) OPERATING ACTIVITIES:
Profit/(loss) for the period 339,964 1,199,146
Amortisation and depreciation 1,706 1,862
Non-cash cost of stock option plans 4,659 9,123
Impairment losses/(reversals) on investments 858,000 7,000
Fair value adjustment to equity swaps on Fiat shares (a) (116,992) 270,880
Losses/(gains) on disposals - (879,884)
Change in provisions for employee benefits and other provisions 1,141 11,334
Change in deferred taxes (5,858) 1,601
Change in working capital 274,280 184,605
TOTAL 1,356,900 805,667
C) CASH FROM/(USED IN) INVESTING ACTIVITIES:
Investments relating to:
Recapitalisation of subsidiaries (406,467) (350,000)
Reduction of investments relating to:
Capital reductions and distribution of reserves by subsidiaries - -
Proceeds from disposals - 611
Other (investments)/disposals, net (b) (6,429) 878,773
TOTAL (412,896) 529,384
D) CASH FROM/(USED IN) FINANCING ACTIVITIES:
Change in current financial assets (606,947) 1,077,528
Change in non-current financial liabilities 6,251 (998,857)
Change in current financial liabilities (318,556) (666,539)
Increase in share capital - -
Purchase of own shares - (238,531)
Sale of own shares - 738
Dividends paid (24,773) (509,419)
TOTAL (944,025) (1,335,080)
E) TOTAL CHANGE IN CASH AND CASH EQUIVALENTS (21) (29)
F) CASH AND CASH EQUIVALENTS AT END OF THE YEAR 474 495
(*) Pursuant to Consob Resolution 15519 of 27 July 2006, the effects of transactions with related parties on the Statement of Cash Flows of Fiat S.p.A. are presented in a specific statement of cash
flows provided on the following pages.
Amounts in the Statement of Cash Flows for 2008 are stated net of the effects of the Partial Spin-off of Fiat Partecipazioni S.p.A. in favour of Fiat S.p.A., which was cash neutral.
(a) To ensure a clearer presentation, beginning in 2009 fair value adjustments to the equity swaps on Fiat shares are presented separately as a non-cash component of profit and loss. For comparability,
amounts for 2008 have been restated and changes to current financial assets and liabilities adjusted accordingly.
(b) For 2008, the amount included €880,000 thousand relating to the sale of the FIAT trademark to the indirect subsidiary Fiat Group Marketing & Corporate Communication S.p.A.