Chrysler 2010 Annual Report Download - page 84

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Discontinued Operations (Fiat Industrial Group)
Industrial Financial
(€ million)
Consolidated Activities Services
Financial payables: (18,695) (8,659) (12,470)
Asset-backed financing (8,321) (105) (8,216)
Financial payables to Continuing Operations (5,626) (4,291) (1,335)
Other (4,748) (4,263) (2,919)
Financial receivables from Continuing Operations 2,865 2,541 324
Intersegment financial receivables - 1,774 660
Financial payables net of intersegment and current financial receivables (15,830) (4,344) (11,486)
Other financial assets (*) 88 70 18
Other financial liabilities (*) (147) (126) (21)
Current securities 24 - 24
Cash and cash equivalents 3,686 2,500 1,186
Net Debt (Discontinued Operations) (12,179) (1,900) (10,279)
(*) Includes fair value of derivative financial instruments
The above analysis of net debt by activity for both Continuing and Discontinued Operations provides an itemization of financial receivables and payables
between Continuing and Discontinued Operations. As these items are intercompany, they have been eliminated from the net debt presentation for Fiat Group
pre Demerger.
Financial payables for Industrial Activities partially consist of funding raised by the central treasury to support the activities of the financial services companies
(shown under intersegment financial receivables).
Intersegment financial receivables for financial services companies, however, represent loans or advances to industrial companies – for receivables sold to
financial services companies that do not meet the derecognition requirements of IAS 39 – as well as liquidity deposited temporarily with the central treasury.
At year end, cash and cash equivalents included cash with a pre-determined use of €694 million (€530 million at year-end 2009), primarily for the Financial
Services companies and allocated to servicing securitization vehicles (included under asset-backed financing).