Chrysler 2010 Annual Report Download - page 332

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There were no investments in other companies in relation to whose obligations Fiat S.p.A. has unlimited liability (Article 2361 (2) of the Civil Code).
A full list of investments with the additional disclosures required by Consob Communication DEM/6064293 of 28 July 2006 is attached.
At 31 December 2010 and 2009, no investments held by the company had been pledged as security for financial or contingent liabilities.
During 2009, changes in investments were as follows:
Impairment
(losses)/reversals
and Fair value
(€ thousand) 31 December 2008 Additions Decreases adjustments 31 December 2009
Investments in subsidiaries 14,294,661 406,467 (5,819) (858,000) 13,837,309
Investments in associates 131,785 - - - 131,785
Investments in other companies 18,290 115 - 3,071 21,476
Total investments 14,444,736 406,582 (5,819) (854,929) 13,990,570
12. Other financial assets
A breakdown of other financial assets is provided in the following table:
(€ thousand) 31 December 2010 31 December 2009 Change
Call option on Ferrari S.p.A. shares - 10,032 (10,032)
Financial asset relating to exercise of the call option on Ferrari S.p.A shares 132,431 - 132,431
Fees receivables for guarantees given 11,442 16,782 (5,340)
Debt securities 74 73 1
Total other financial assets 143,947 26,887 117,060
At 31 December 2009, the call option on Ferrari S.p.A. shares included the value of the premium paid in October 2006 (€10,032 thousand) for a call option
on the 5% interest in Ferrari S.p.A. held by Mubadala Development Company PJSC. The option expired on 31 July 2010 and had an exercise price of
€302.07 per share, less the value of any dividends distributed. In July 2010, Fiat S.p.A. exercised that option and – pending completion of the sale through
the transfer of the Ferrari S.p.A. shares from Mubadala Development Company PJSC and payment of the agreed consideration by Fiat S.p.A. – a financial
asset was recognized, under financial receivable relating to exercise of the call option on Ferrari shares, for an amount equivalent to the exercise price
(€122,399 thousand) plus the value of the premium paid and a corresponding financial liability was recognized in relation to the consideration amount (see
Note 25).
Fees receivables for guarantees given are measured at the present value of the fees to be received in future years for guarantees provided by the company
(mainly for guaranteeing loans obtained by Group companies).
Debt securities consist of listed Italian State securities pledged to fund scholarship grants.
A breakdown of other financial assets by maturity date is as follows:
(€ thousand)
31 December 2010 31 December 2009
Other financial assets
due within one year 136,024 15,437
due after one year but within five years 7,746 11,145
due beyond five years 177 305
Total 143,947 26,887