Chrysler 2009 Annual Report Download - page 321

FIAT S.P.A.
STATUTORY
FINANCIAL
STATEMENTS AT
31 DECEMBER
2009
NOTES
320
The present value of the defined benefit obligations in 2009 and the three previous years is as follows:
At At At At
(€ thousand) 31 December 2009 31 December 2008 31 December 2007 31 December 2006
Present value of obligation at the end of the year:
Employee severance indemnity 6,280 6,334 6,280 8,412
Others 17,486 18,679 11,851 13,655
Total 23,766 25,013 18,131 22,067
The effects of the differences between the previous actuarial assumptions and what has actually occurred (experience adjustments) at 31 December 2009
and 2008 is as follows:
(€ thousand)
2009 2008
Experience adjustments actuarial (gains)/losses:
Employee severance indemnity 323 (153)
Others (1,459) (1,465)
Total effect on the present value of defined benefit obligation (1,136) (1,618)
Other non-current provisions
At 31 December 2009, this item totalled €1,245 thousand (€1,255 thousand at 31 December 2008) and mainly relates to future amounts to be paid to
employees who left the Company in previous years under a long-term benefit programme which bridges the period prior to retirement.
During 2008, changes in provisions for employee benefits and other non-current provisions were as follows:
At At
(€ thousand) 31 December 2007 Accruals Utilisations Other changes 31 December 2008
Provisions for employee benefits and similar provisions 20,037 2,355 (1,621) 4,392 25,163
Other non-current provisions 1,265 - (10) - 1,255
Total provisions for employee benefits and
other non-current provisions 21,302 2,355 (1,631) 4,392 26,418
21. Non-current financial liabilities
At 31 December 2009, non-current financial liabilities totalled €1,816,782 thousand, an increase of €6,251 thousand over 31 December 2008, and included
the following:
(€ thousand) At 31 December 2009 At 31 December 2008 Change
Financial payables to Group companies 1,800,000 1,800,000 -
Financial guarantee contracts 16,782 10,531 6,251
Total non-current financial liabilities 1,816,782 1,810,531 6,251
Financial payables to Group companies related to euro-denominated loans received from Fiat Finance S.p.A. in the first half of 2006 which are due beyond
12 months. Interest is payable on those loans at rates between 6.35% and 7.18%.
A breakdown of loans by maturity is as follows:
(€ thousand)
At 31 December 2009
Maturing in 2010 400,000
Maturing in 2011 400,000
Maturing in 2013 1,000,000
Total financial payables to Group companies 1,800,000