Chrysler 2012 Annual Report Download - page 147

Notes
146 Consolidated
Financial
Statements
at 31 December
2012
In addition, as part of the discussions which began in 2011 on the future of the Fiat-PSA Peugeot Citroën JVs, on 26 July 2012 the
Group entered into an agreement with PSA Peugeot Citroën providing for the transfer of its shareholding in the Sevelnord Société
Anonyme joint venture at a symbolic value. In accordance with IFRS 5, the Group has reclassified its investment in Sevelnord Société
Anonyme within assets held for sale and measured it at fair value, by recognising an unusual loss of €91 million in the second quarter
of 2012.
Amounts reported in the Consolidated income statement and statement of cash flows for 2011 include the operations of Chrysler which
has been consolidated since 1 June 2011.
Excluded from consolidation are 68 subsidiaries that are either dormant or generate a negligible volume of business; their proportion
of the Group’s assets, liabilities, financial position and earnings is immaterial. In particular, 45 of these subsidiaries are accounted for
using the cost method, and represent in aggregate 0.1% of total Fiat Group revenues, 0% of Fiat Group equity and 0.1% of total Fiat
Group assets.
Interests in jointly controlled entities (50 companies, including 26 entities of the FGA Capital group) are accounted for using the equity
method. Condensed financial information relating to the Group’s pro-rata interest in these entities is as follows:
(€ million) At 31 December 2012 At 31 December 2011
Non-current assets 1,984 1,965
Current assets 8,790 9,242
TOTAL ASSETS 10,774 11,207
Debt 7,602 8,134
Other liabilities 1,601 1,595
The combined balances of the Group’s share in the principal income statement items of jointly controlled entities accounted for using
the equity method are as follows:
(€ million) 2012 2011
Net revenues 4,381 4,703
Trading profit/(loss) 230 246
EBIT 225 234
Profit/(loss) before taxes 200 240
Profit/(loss) 148 143
At 31 December 2012, 8 associates are accounted for using the equity method, while 24 associates, which in aggregate are of minor
importance, are accounted for using the cost method. The main aggregate amounts related to the Group’s interests in associates are
as follows:
(€ million) At 31 December 2012 At 31 December 2011
Total assets 294 386
Liabilities 218 240
(€ million) 2012 2011
Net revenues 182 208
Net profit/(loss) (38) (4)