Chrysler 2009 Annual Report Download - page 334

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management of derivative financial instruments (Fiat Netherlands Holding N.V., see Notes 16 and 25);
purchases of administrative, tax, corporate assistance and consultancy services and related IT systems (Fiat Services S.p.A. and Fiat I.T.E.M. S.p.A.),
public relations services (Fiat Group Marketing & Corporate Communication S.p.A.), personnel and other management services (Fiat Servizi per l’Industria
S.c.p.A.), security services (Orione S.c.p.A. and Sirio S.c.p.A.), supervisory and internal audit services (Fiat-Revisione Interna S.c.r.l.), vehicle leases
(Leasys S.p.A.) maintenance services and services for office space (Fiat Partecipazioni S.p.A.).
Intercompany transactions in 2009 also related to management of the portfolio of investments in subsidiaries, whose effects on the Company’s earnings
and financial position were as described above, in particular:
receipt of dividends from investees (see Note 1);
subscription to capital increases of €300,000 thousand for Iveco S.p.A., €40,000 thousand for Comau S.p.A. and €25,000 thousand for Teksid
Aluminum S.r.l. to strengthen their capital, and subscription to capital increase (€41,467 thousand) of Fiat Finance North America Inc. (see Note 12);
In 2009, transactions with related parties as defined by IAS 24 which did not involve subsidiaries are presented in the tables above under “Other related
parties”. In detail said transactions were as follows:
expenses for services rendered by SGS Italia S.p.A. (€50 thousand) and Soiem S.p.A. (€70 thousand);
professional and advisory services and services as the secretary of the Board of Directors and of the Committees were provided to Fiat S.p.A. by Mr.
Franzo Grande Stevens for fees of €1,000 thousand;
Fiat S.p.A. directors’ and statutory auditors’ fees as well as the compensation component arising from stock option plans with underlying Fiat S.p.A.
shares regarding the Chief Executive Officer (see Note 6);
compensation due to executives having strategic responsibilities in Fiat S.p.A. (see Note 5), as well as the compensation component arising from stock
option plans with underlying Fiat S.p.A. shares assigned to them.
31. Net financial position
Pursuant to the Consob Communication of 28 July 2006 and in compliance with the CESR’s recommendations for the consistent implementation of the
European Commission’s Regulation on Prospectuses issued on 10 February 2005, the net financial position of Fiat S.p.A. at 31 December 2009 is as
follows:
(€ thousand) At 31 December 2009 At 31 December 2008 Change
Cash and cash equivalents 474 495 (21)
Current financial receivables: 646,074 - 646,074
from Group companies 646,074 - 646,074
from third parties - - -
Non-current financial payables: (1,816,782) (1,810,531) (6,251)
from Group companies (1,816,782) (1,810,531) (6,251)
from third parties - - -
Current financial payables: (156,712) (553,133) 396,421
from Group companies (96,321) (238,976) 142,655
from third parties (60,391) (314,157) 253,766
Net financial position (1,326,946) (2,363,169) 1,036,223
from Group companies (1,267,029) (2,049,507) 782,478
from third parties (59,917) (313,662) 253,745