Chrysler 2009 Annual Report Download - page 67

REPORT ON
OPERATIONS
FINANCIAL
REVIEW -
FIAT GROUP
66
Industrial Activities and Financial Services: results for 2009
The following tables provide a breakdown of the consolidated income statement, statement of financial position and statement of cash flows between
“Industrial Activities” and “Financial Services”. The latter includes the retail finance, leasing and rental companies of CNH – Case New Holland, Iveco, Fiat
Group Automobiles and Ferrari.
Financial Services activities also include FGA Capital (the joint venture between Fiat Group Automobiles and Crédit Agricole) and Iveco Finance Holdings
Limited (the joint venture between Iveco and Barclays), which are accounted for under the equity method.
Basis of analysis
The segmentation between Industrial Activities and Financial Services represents a sub-consolidation prepared on the basis of the core business activities
carried out by each Group company.
Investments held by companies belonging to one activity segment in companies included in another segment are accounted for using the equity method.
To avoid a misleading presentation of net profit, the results of investments accounted for in this manner are classified in the income statement under Result
from intersegment investments.
The holding companies (Fiat S.p.A., FGI – Fiat Group International S.A., Fiat Partecipazioni S.p.A., Fiat Netherlands Holding N.V.) are classified under
Industrial Activities.
The sub-consolidation of Industrial Activities also includes companies that perform centralised treasury activities (i.e., raising funding in the market and
financing Group companies).These activities do not, however, include offering financing to third parties.