Chrysler 2009 Annual Report Download - page 308

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14. Other non-current assets
At 31 December 2009, other non-current assets totalled €203 thousand, a net decrease of €41 thousand over 31 December 2008, and consisted of
amounts receivable from tax authorities and employees beyond 12 months.
15. Trade receivables
At 31 December 2009, trade receivables amounted to €60,015 thousand, a net decrease of €125,277 thousand over 31 December 2008, and included
the following:
At At
(€ thousand) 31 December 2009 31 December 2008 Change
Third parties
Receivables 53,091 131,537 (78,446)
Allowance for doubtful accounts (228) (228) -
Total third parties 52,863 131,309 (78,446)
Intercompany trade receivables 7,152 53,983 (46,831)
Total trade receivables 60,015 185,292 (125,277)
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 the year. 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 2009, factored receivables totalled €10,303 thousand and related to work completed on the Novara-Milan 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 consist almost entirely of amounts receivable from other Group companies for services provided. At 31 December 2008,
this item included €52,800 thousand receivable from Fiat Group Marketing and Corporate Communication S.p.A. for the portion of the consideration for the
FIAT trademark, purchased at the end of 2008, which was deferred until 2009.
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.
16. Current financial receivables
At 31 December 2009, current financial receivables totalled €646,074 thousand and consisted of amounts receivable from other Group companies, as
detailed below (there were no current financial receivables at 31 December 2008):
At At
(€ thousand) 31 December 2009 31 December 2008 Change
Current account with Fiat Finance S.p.A. 606,941 - 606,941
Amounts due from Fiat Netherlands Holding N.V.
for derivative financial instruments 39,127 - 39,127
Other minor receivables due from Fiat Netherlands Holding N.V. 6 - 6
Total current financial receivables 646,074 - 646,074