Chrysler 2012 Annual Report Download - page 284

283
Fiat S.p.A. - Statutory
Financial Statements
at 31 December 2012
Gains/(losses) recognized directly in equity
This reserve includes gains and losses recognized directly in equity and in particular those arising from fair value adjustments on investments in other
companies, as described previously (see Note 11).
At 31 December 2012, the balance of this reserve was a negative €17,375 thousand, reflecting the gain of €26,330 thousand for the year attributable to
fair value measurement of investments in Fiat Industrial S.p.A. (for shares not allocated to servicing the stock option and stock grant plans), Fin. Priv. S.r.l.
and Assicurazioni Generali S.p.A.
Stock option reserve
At 31 December 2012, the stock option reserve totaled €53,562 thousand, a net increase of €1,271 thousand over 31 December 2011. The change for
the year was attributable to the transfer to the retained profit reserve following the assignment of 4,000,000 shares to the CEO in January 2012, which was
more than offset by increases related to stock option and stock grant plans serviced by Fiat S.p.A. shares.
Other reserves
At 31 December 2012, other reserves totaled €89,829 thousand and were unchanged from 31 December 2011. The amount includes:
Reserves pursuant to Law 413/1991: a total of €22,591 thousand corresponding to the compulsory revaluation of property (net of substitute tax)
pursuant to Law 413 of 30 December 1991 and allocated to a specific reserve, as required by law
Extraordinary reserve: a total of €28,044 thousand corresponding to the value approved by Shareholders on 11 May 2004
Reserve for Spin-off difference: a total of €39,194 thousand and includes the positive difference arising from the spin-off executed by Fiat Partecipazioni
S.p.A. on 29 December 2008
Own shares
At 31 December 2012, the book value of own shares held was €258,957 thousand, a decrease of €29,926 thousand over 31 December 2011 and related
to 34,577,766 ordinary shares having a total par value of €123,788 thousand.
Changes during the year were as follows:
Number of ordinary
shares
Total carrying value
(€ thousands)
Average
unitary value (€) % share capital
31 December 2011 38,568,458 288,883 7.490 3.02%
Assignment to Chief Executive Officer of shares vested under the 2009
stock grant plan (4,000,000) (29,960) 7.490 -0.31%
Purchases following conversion of preference and savings shares into
ordinary shares 9,308 34 3.725 -
31 December 2012 34,577,766 258,957 7.489 2.77%
The number of own shares decreased following the assignment to the Chief Executive Officer in January 2012 of 4,000,000 own shares upon the vesting
of rights related to the 2009 stock grant plan.
A total of 9,308 own shares were purchased from Shareholders during the year, which represented the fractions of ordinary shares resulting from the
mandatory conversion of preference and savings shares into Fiat S.p.A. ordinary shares.
No own shares were bought or sold in 2011. A description of the authorizations from Shareholders for the purchase of own shares is provided above.