Chrysler 2010 Annual Report Download - page 362

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Details of the most significant transactions between Fiat S.p.A. and Group companies summarized in the above tables are as follows:
services provided by Fiat S.p.A. and management personnel at various Group companies (Fiat Group Automobiles S.p.A., Fiat Gestione Partecipazioni
S.p.A. formerly Iveco S.p.A., Magneti Marelli S.p.A., Ferrari S.p.A., Fiat Powertrain Technologies S.p.A., Fiat Group Purchasing S.r.l., Teksid S.p.A.,
Comau S.p.A. and other minor);
lease of property or office space (Fiat Finance S.p.A., Fiat Group Marketing & Corporate Communication S.p.A., Fiat Partecipazioni S.p.A. and other minor
companies) and the recovery of directors’ fees and expenses;
provision of sureties and other guarantees (see Note 27) on issues of bonds and Billets de Trésorerie (Fiat Finance and Trade Ltd S.A. and Fiat Finance
North America Inc.) bank loans and credit facilities (Fiat Finance and Trade Ltd S.A., Fiat Finance S.p.A., Banco CNH Capital S.A., CNH Global N.V.,
Fiat Finance Canada Ltd., Fiat Finance North America Inc., Fiat Automoveis S.A.- FIASA and other minor subsidiaries), property rental payments
(Fiat Group Automobiles S.p.A. and its subsidiaries) and to tax authorities for Group company VAT credits;
management of current accounts, obtaining short- and medium-term loans and financial assistance (Fiat Finance S.p.A.);
management of derivative financial instruments (Fiat Netherlands Holding N.V. and Fiat Finance S.p.A.);
purchases of administrative, tax, corporate assistance and consultancy services and related IT systems (Fiat Services S.p.A. and Fiat I.T.E.M. S.p.A.),
public relations services (Fiat Group Marketing & Corporate Communication S.p.A.), personnel and other management services (Fiat Servizi per l’Industria
S.c.p.A.), security services (Orione S.c.p.A. and Sirio S.c.p.A.), supervisory and internal audit services (Fiat-Revisione Interna S.c.r.l.), vehicle leases
(Leasys S.p.A.) maintenance services and services for office space (Fiat Partecipazioni S.p.A.).
Intercompany transactions in 2010 also related to management of the portfolio of investments in subsidiaries, whose effects on the Company’s earnings
and financial position were as described above, in particular:
receipt of dividends from investees (see Note 1);
the sale of the minority interest held in Elasis – Società Consortile per Azioni to Fiat Group Automobiles and Fiat Partecipazioni S.p.A., as part of the
restructuring of the holdings in consortium companies for the Group’s research (see Note 3);
subscription to capital increases of €1,050 million for Fiat Group Automobiles S.p.A., €750 million for Fiat Netherlands Holding N.V., €40 million for
Comau S.p.A. and €12.5 million for Teksid Aluminum S.r.l. to strengthen their capital structure (see Note 11);
the purchase from Fiat Partecipazioni S.p.A. and subsequent capital increase of Nuove Iniziative Finanziarie 5 S.p.A. (subsequently renamed Iveco S.p.A.)
and Nuova Immobiliare Nove S.p.A. (subsequently renamed FPT Industrial S.p.A.) in the amount of €200 million and €100 million respectively, in addition
to establishment of the subsidiaries Fiat Industrial S.p.A. (incorporated with share capital of €120,000 with a further contribution to cover start-up costs
of €6.1 million) and Fiat Industrial Finance S.p.A. with share capital of €100 million. All of the above transactions were undertaken in preparation for the
demerger of activities to Fiat Industrial S.p.A. (see Note 11);
incorporation of Fiat Switzerland S.A. in preparation for the reorganization of local activities.
In 2010, transactions with related parties (as defined under IAS 24) other than subsidiaries are presented above under “Other related parties”.
Those transactions essentially related to:
professional and advisory services and services as secretary of the Board of Directors and sub-committees were provided to Fiat S.p.A. by Mr. Franzo
Grande Stevens for fees of €1,000 thousand;
fees for the directors and statutory auditors of Fiat S.p.A., as well as the compensation component arising from stock option and stock grant plans for
the Chief Executive Officer based on Fiat S.p.A. shares;
compensation due to Fiat S.p.A. executives having strategic responsibilities.