Chrysler 2010 Annual Report Download - page 207

FIAT GROUP
CONSOLIDATED
FINANCIAL
STATEMENTS
AT 31 DECEMBER
2010
NOTES
206
Other current assets
At 31 December 2010, Other current assets classified as Continuing Operations mainly consist of Other tax receivables for VAT and other indirect taxes of
€765 million, Receivables from employees of €44 million and Accrued income and prepaid expenses of €118 million; Other current assets also included
an amount of €88 million due from the tax authorities relating to eco-incentives in Italy; the Group will be able to recover this balance by offsetting it against
future payments due to the tax authorities.
At 31 December 2010, Other current assets classified as Discontinued Operations mainly consist of Other tax receivables for VAT and other indirect taxes
of €474 million, Receivables from employees of €22 million and Accrued income and prepaid expenses of €158 million.
At 31 December 2009, Other current assets mainly consisted of Other tax receivables for VAT and other indirect taxes of €1,595 million, Receivables
from employees of €67 million and Accrued income and prepaid expenses of €249 million. At 31 December 2009, this item also included an amount of
€593 million due from the tax authorities relating to eco-incentives in Italy.
At the balance sheet date, the carrying amount of Other current assets is considered to be in line with fair value.
20. Current securities
Current securities consist of short-term or marketable securities which represent temporary investments, but which do not satisfy all the requirements for
being classified as cash equivalents. In particular:
At 31 December 2010 At 31 December 2009
Continuing Discontinued
(€ million) Operations Operations Total Total
Current securities available-for-sale 38 24 62 53
Current securities held for trading 147 - 147 164
Total Current securities 185 24 209 217
21. Other financial assets and Other financial liabilities
These items consist of derivative financial instruments measured at fair value at the balance sheet date. Specifically:
At 31 December 2010 At 31 December 2009
Positive Negative
Positive fair value Negative fair value fair value fair value
Continuing Discontinued Continuing Discontinued
(€ million) Operations Operations Total Operations Operations Total Total Total
Fair value hedges
Interest rate risk - Interest rate swaps 226 9 235 (7) (11) (18) 244 (51)
Interest rate and currency risk - Combined interest rate
and currency swaps 15 - 15 - - - 59 -
Total Fair value hedges 241 9 250 (7) (11) (18) 303 (51)
Cash flow hedges
Currency risks - Forward contracts, Currency swaps
and Currency options 81 48 129 (109) (82) (191) 140 (177)
Interest rate risk - Interest rate swaps 56 4 60 (78) (9) (87) 59 (101)
Interest rate and currency risk - Combined interest rate
and currency swaps 5 - 5 - - - 31 -
Other derivatives 2 - 2 - - - 6 -
Total Cash flow hedges 144 52 196 (187) (91) (278) 236 (278)
Derivatives for trading 131 27 158 (61) (45) (106) 97 (135)
Other financial assets/(liabilities) 516 88 604 (255) (147) (402) 636 (464)