Chrysler 2010 Annual Report Download - page 182

181
Interest cost and other financial expenses may be analysed as follows:
2010 2009
Continuing Discontinued Continuing Discontinued
(€ million) Operations Operations Total Operations Operations Total
Interest expenses on bonds 668 146 814 444 67 511
Bank interest expenses 126 179 305 170 153 323
Interest expenses on trade payables 3 4 7 3 1 4
Commission expenses 7 8 15 9 10 19
Other interest cost and financial expenses 245 321 566 250 330 580
Total Interest cost and other financial expenses 1,049 658 1,707 876 561 1,437
10. Result from investments
In 2010 the net gain included in Profit (loss) from Continuing Operations, amounting to €114 million (€77 million in 2009), includes the Group’s share of
€120 million (€65 million in 2009) in the net profit or loss of the investees accounted for using the equity method, and a net loss of €6 million (a net gain of
€12 million in 2009) consisting of impairment losses and reversals of impairment losses, accruals to the Investment provision and dividend income. In detail
the item includes (amounts in € million): Fiat Group Automobiles sector companies 131 (96 in 2009), other companies €-17 (€-19 in 2009).
In 2010 the net gain included in Profit (loss) from Discontinued Operations, amounting to €64 million (a net loss of €50 million in 2009), includes the Group’s
share of €70 million (€-47 million in 2009) in the net profit or loss of the investees accounted for using the equity method, and a net loss of €6 million (a net
loss of €3 million in 2009) consisting of impairment losses and reversals of impairment losses, accruals to the Investment provision and dividend income.
In detail the item includes (amounts in € million): entities of Agricultural and Construction equipment sector companies 75 (-26 in 2009); entities of Trucks
and Commercial Vehicles sector -11 (-24 in 2009).
11. Income taxes
Income taxes recognised in the income statement consist of the following:
2010 2009
Continuing Discontinued Continuing Discontinued
(€ million) Operations Operations Total Operations Operations Total
Current taxes:
IRAP 71 19 90 95 4 99
Other taxes 558 181 739 415 130 545
Total Current taxes 629 200 829 510 134 644
Deferred taxes for the period:
IRAP (21) - (21) (33) - (33)
Other taxes (127) (7) (134) (28) (126) (154)
Total Deferred taxes (148) (7) (155) (61) (126) (187)
Taxes relating to prior periods 3 5 8 (1) 25 24
Total Income taxes 484 198 682 448 33 481
Overall, the increase in the charge for current and deferred taxes in 2010 with respect to 2009 is due mainly to an increase in the taxable profits of non-Italian
companies, partially offset by the recognition of deferred tax assets of a non-recurring nature.
Taxes relating to prior periods include the cost arising from certain disputes with the tax authorities.
The effective tax rate of the Fiat Group for 2010 (excluding current and deferred IRAP) was 48%. The effective tax rate for 2009 (excluding current and
deferred IRAP) was not representative because tax expenses were incurred with respect to a consolidated book loss.