Chrysler 2011 Annual Report Download - page 325

Fiat S.p.A.
Statutory
Financial
Statements
at 31 December
2011
Notes
324
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.p.A.), vehicle leases
(Leasys S.p.A.), maintenance services and office space (Fiat Partecipazioni S.p.A.)
During 2011, intercompany transactions 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:
collection of dividends from investees (see Note 1)
the sale, referred to above, of the investment in Fiat Finance North America Inc. to the subsidiary Fiat Finance and Trade Ltd S.A., as part of the
reorganization of holdings in Group treasury companies
subscription to capital increases of €120.0 million for Comau S.p.A., €70.0 million for Maserati S.p.A., and €30.0 million for Teksid Aluminum S.r.l. to
strengthen their capital structure in consideration of their financial results (see Note 11)
the purchase of the investments held in Fiat-Revisione Interna S.c.p.A. from other Group companies as part of the reorganization of consortium
companies
purchase from the subsidiaries Fiat-Revisione Interna S.c.p.A. and Fiat Finance S.p.A., with effect from 1 December 2011, of the business units providing
internal audit and financial advisory services to Fiat S.p.A. and Group companies
Related-party transactions (as defined under IAS 24) not involving subsidiaries are reported above under “Other related parties”. Those transactions
essentially related to:
lease of office space (to Fiat Industrial S.p.A., Fiat Industrial Finance S.p.A., Exor S.p.A. and Fondazione Giovanni Agnelli), provision of personnel
management and other services (to Fiat Industrial S.p.A.) and recovery of costs
maintenance of guarantees issued for credit facilities granted by banks on behalf of companies transferred to Fiat Industrial Group as a result of the
Demerger (principally Banco CNH Capital S.A.) until the guarantee was taken on by Fiat Industrial S.p.A. with the release of Fiat S.p.A. from the guarantee
obligation
sale of the investment, as noted above, held in Fiat Switzerland S.A. to CNH International S.A. (Fiat Industrial Group) as part of the reorganization of the
activities carried out by local service companies for Fiat Group and Fiat Industrial Group
purchase of services provided by management personnel (Fiat Industrial S.p.A.)
professional and advisory services and services as secretary of the Board of Directors and sub-committees provided to Fiat S.p.A. by Mr. Franzo Grande
Stevens (€1,025 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 with strategic responsibilities