Chrysler 2010 Annual Report Download - page 321

FIAT S.P.A.
STATUTORY
FINANCIAL
STATEMENTS AT
31 DECEMBER
2010
NOTES
320
COMPOSITION AND PRINCIPAL CHANGES
1. Dividends and other income from investments
A breakdown of dividends and other income from investments is provided in the following table:
(€ thousand) 2010 2009
Dividends from subsidiaries:
Fiat Finance S.p.A. 180,000 -
Magneti Marelli S.p.A. 99,990 -
Fiat Powertrain Technologies S.p.A. 80,000 -
Fiat Netherlands Holding N.V. 50,000 -
Business Solutions S.p.A. 18,319 -
Fiat Group Automobiles S.p.A. - 700,000
Iveco S.p.A. (renamed Fiat Gestione Partecipazioni S.p.A.) - 559,691
Total dividends from subsidiaries 428,309 1,259,691
Dividends from other companies 415 140
Total dividends and other income from investments 428,724 1,259,831
For 2010, dividends from other companies related to dividends received from Fin. Priv. S.r.l. (€349 thousand) and Assicurazioni Generali S.p.A.
(€66 thousand). For 2009, they included dividends from Assicurazioni Generali S.p.A.
2. Impairment (losses)/reversals on investments
The following table provides a breakdown of impairment losses and reversals on investments:
(€ thousand) 2010 2009
Impairment losses:
Fiat Powertrain Technologies S.p.A. (80,000) -
Comau S.p.A. (7,100) (51,000)
Teksid Aluminum S.r.l. (11,100) (31,000)
Fiat Industrial S.p.A. (6,100) -
Fiat Partecipazioni S.p.A. - (16,000)
Iveco S.p.A. (renamed Fiat Gestione Partecipazioni S.p.A.) - (560,000)
Fiat Group Automobiles S.p.A. - (200,000)
Total impairment losses (104,300) (858,000)
Reversal of impairment losses:
Fiat Gestione Partecipazioni S.p.A. (formerly Iveco S.p.A.) 260,000 -
Total value of reversals 260,000 -
Total impairment (losses)/reversals on investments 155,700 (858,000)
As detailed in Note 11, as part of the transactions preliminary to the Demerger, Iveco S.p.A. sold (with effect from 1 December 2010 and on the basis of a
valuation performed by an independent expert) its trucks and commercial vehicles and “Industrial & Marine” powertrain activities to two subsidiaries of Fiat
S.p.A. (Nuove Iniziative Finanziarie Cinque S.p.A. and Nuova Immobiliare Nove S.p.A., later renamed Iveco S.p.A. and FPT Industrial S.p.A.) included within
the group of activities to be transferred under the Demerger. Subsequent to that transaction, Iveco S.p.A. was renamed Fiat Gestione Partecipazioni S.p.A.
At 31 December 2010, the carrying amount of the shareholding, which had been reduced by €560 million in 2009, was brought into line with the book value
of the company’s equity (which is deemed representative of its recoverable amount) resulting in an impairment reversal of €260 million.