Chrysler 2011 Annual Report Download - page 78

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Other Businesses
In 2011, Other Businesses reported a trading loss of €83 million, which included the impact of eliminations and consolidation adjustments, compared to
a loss of €71 million for 2010.
Operating profit/(loss)
Operating profit for 2011 was €3,336 million, including positive net unusuals of €944 million. For Fiat excluding Chrysler, operating profit was €2,136
million (€992 million for 2010) including net unusual income of €1,089 million.
Net gains on the disposal of investments totaled €21 million. In 2010, net gains on the disposal of investments totaled €12 million and included €10
million relating to the accounting impact of the acquisition of the remaining 50% in Fiat-GM Powertrain Polska.
Restructuring costs for 2011 totaled €102 million, compared to €118 million for 2010, and mainly related to Fiat Group Automobiles (€78 million for 2011;
€90 million for 2010) and Magneti Marelli (€16 million for 2011; €26 million for 2010).
Fiat Group reported other unusual income (net) of €1,025 million for 2011. Unusual income totaled €2,100 million, of which €2,017 million related to
the fair value re-measurement of the 30% ownership interest held in Chrysler prior to the acquisition of control and of the right to receive an additional 5%
ownership interest following achievement by Chrysler of the third Performance Event (which occurred in early January 2012). Unusual expense totaled
€1,075 million, of which €855 million ex-Chrysler was largely attributable to the impact on Fiat’s businesses of the strategic realignment with Chrysler’s
manufacturing and commercial activities, further accelerated following the increase of Fiat’s ownership interest, and to one-off charges mainly related to the
realignment of certain minor activities of the Group.
Chrysler’s June-December 2011 operating profit of €1,200 million includes €220 million in unusual expense recognized in relation to an upward revaluation
of its inventories associated with the recognition of assets acquired and liabilities assumed at fair value at the date of acquisition of control. Due to rapid
inventory turnover, this amount was fully written off (a one-off non-cash charge) in June.
Report on Operations