Chrysler 2009 Annual Report Download - page 314

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Retained profit/(loss)
At 31 December 2009, retained profit totalled €2,198,994 thousand, an increase of €1,114,416 thousand over 31 December 2008, following allocation of
the prior year’s profit, after dividends and allocations to the legal reserve, as approved by Shareholders on 27 March 2009.
Gains/(losses) recognised directly in equity
This reserve includes gains and losses recognised directly in equity and in particular those arising from fair value adjustments on investments in other
companies, as described previously (see Note 12).
At 31 December 2009, this reserve was a positive €2,440 thousand, representing an increase of €3,071 thousand over 31 December 2008 attributable to
fair value adjustments on the investments in Fin. Priv. S.r.l. and Assicurazioni Generali S.p.A.
Stock option reserve
This reserve amounted to €95,272 thousand at 31 December 2009, a net decrease of €1,159 thousand over 31 December 2008, with balancing entries
to the following:
the recognition in the income statement of the total cost of €4,660 thousand in 2009 (€9,123 thousand in 2008), attributable to the cost of €8,154
thousand arising from stock option plans based on Fiat S.p.A. shares and relating to the Chief Executive Officer (see Note 6), net of the release to income
of €3,494 thousand related to stock option plans based on Fiat S.p.A. shares and relating to managers employed by Fiat S.p.A. (see Note 5);
a decrease of €5,819 thousand in the carrying amount of investments in subsidiaries which directly or indirectly employ managers of other Group
companies who are beneficiaries of stock option plans based on Fiat S.p.A. shares (see Note 12).
Reserve for Spin-off difference
This reserve amounted to €39,194 thousand at 31 December 2009 and was unchanged from 31 December 2008. It includes the positive difference arising
from the partial spin-off of Fiat Partecipazioni S.p.A. during 2009.
Other reserves
At 31 December 2009, other reserves amounted to €50,635 thousand and were unchanged from 31 December 2008. The amount includes:
Reserves pursuant to Law 413/1991: a total of €22,591 thousand corresponding to the compulsory revaluation of property (net of substitute tax) pursuant
to Law 413 of 30 December 1991 and allocated to a specific reserve required under the Law.
Extraordinary reserve: a total of €28,044 thousand corresponding to the value approved by Shareholders on 11 May 2004.
Treasury shares
At 31 December 2009, the carrying amount of treasury shares held was €656,553 thousand and related to 38,568,458 ordinary shares (average book value
of €17.023 per share) representing 3.02% of share capital, and having a total nominal value of €192,842 thousand. The amount was unchanged over 31
December 2008, as no shares were purchased or sold during 2009.
In 2008, a total of 71,000 ordinary shares in the portfolio were sold (at a total price of €1,288 thousand) in relation to the exercise of stock options. Purchases
of 16,788,000 ordinary shares (at a total price of €238,531 thousand) were made under the abovementioned Programme.
Share-based compensation
At 31 December 2009 and 2008, Fiat S.p.A. has various share-based payment plans for executives of Group companies, the Chief Executive Officer of Fiat
S.p.A. and the former Chairman of Fiat S.p.A., Mr. Paolo Fresco.