Chrysler 2010 Annual Report Download - page 333

FIAT S.P.A.
STATUTORY
FINANCIAL
STATEMENTS AT
31 DECEMBER
2010
NOTES
332
13. Other non-current assets
At 31 December 2010, other non-current assets totaled €147 thousand, a net decrease of €56 thousand over 31 December 2009, and consisted of
amounts receivable from tax authorities and employees beyond 12 months.
14. Trade receivables
At 31 December 2010, trade receivables amounted to €8,078 thousand, a net decrease of €51,937 thousand over 31 December 2009, and included the
following:
(€ thousand)
31 December 2010 31 December 2009 Change
Third parties
Receivables 7,971 53,091 (45,120)
Allowance for doubtful accounts (156) (228) 72
Total third parties 7,815 52,863 (45,048)
Intercompany trade receivables 263 7,152 (6,889)
Total trade receivables 8,078 60,015 (51,937)
Trade receivables from third parties mainly relate to amounts due from T.A.V. S.p.A. (now Rete Ferroviaria Italiana S.p.A.) for the progress of works on high
speed rail sections during the latter part of the year. These receivables match the trade payables resulting from the progress of the works to be paid to the
consortia CAV.E.T. and CAV.TO.MI. (see Note 24).
Intercompany trade receivables includes adjustments following reassessment of amounts receivable from other Group companies for services provided.
The allowance for doubtful accounts has been calculated on the basis of an assessment of the risk on a number of minor receivables from others.
The carrying amount of trade receivables is deemed to approximate their fair value.
All trade receivables are due within one year and there are no significant overdue balances.
15. Current financial receivables
At 31 December 2010, current financial receivables totaled €311,526 thousand, a net decrease of €334,548 thousand over 31 December 2009 and
consisted of amounts receivable from other Group companies, as detailed below:
(€ thousand)
31 December 2010 31 December 2009 Change
Current account with Fiat Finance S.p.A. 196,529 606,941 (410,412)
Assets arising from derivative financial instruments 114,997 39,127 75,870
Other minor receivables due from Fiat Netherlands Holding N.V. - 6 (6)
Total current financial receivables 311,526 646,074 (334,548)
The current account with Fiat Finance S.p.A. reflects the balance on the account held with that company as part of the Group’s centralized treasury
management. The amount reported at 31 December 2010 is net of €213,000 thousand reclassified under “Assets to be demerged” (see Note 18),
representing financial receivables to be transferred to Fiat Industrial S.p.A. as a result of the Demerger.