Chrysler 2012 Annual Report Download - page 294

293
Fiat S.p.A. - Statutory
Financial Statements
at 31 December 2012
Advances on factored receivables relate to advances on IRES receivables totaling €24,686 thousand (see Note 16) and from Rete Ferroviaria Italiana S.p.A.
for the advancement of work on the Bologna-Florence railway line totaling €2,614 thousand (see Note 14).
Current debt is denominated in euros. The carrying amount of that debt is deemed to be in line with its fair value.
Transfer of receivables
At 31 December 2012, the carrying amount of transferred receivables and related liabilities was as follows:
31 December 2012
(€ thousand) Trade receivables
Current taxes
receivable Total
Carrying amount of receivables 1,689 26,622 28,311
Carrying amount of the related liabilities 2,614 24,686 27,300
At 31 December 2012, the Company had VAT receivables of €47,000 thousand that had been sold on a non-recourse basis and consequently derecognized
(no outstanding receivables sold on a non-recourse basis at 31 December 2011).
25. Other debt
At 31 December 2012, other debt amounted to €364,460 thousand, a net increase of €31,865 thousand over 31 December 2011, and included the
following:
(€ thousand) 31 December 2012 31 December 2011 Change
Advances 700 940 (240)
Other debt:
- Debt payable to Group companies and other related parties
- Consolidated VAT 211,221 158,260 52,961
- Consolidated IRES 137,891 158,271 (20,380)
- Other debt payable to Group companies and other related parties 61,975 (1,969)
- Total debt payable to Group companies and other related parties 349,118 318,506 30,612
- Social security payables 2,128 1,811 317
- Current amounts payable to employees, directors and statutory auditors 7,439 4,262 3,177
- Dividends payable 373 376 (3)
- Other 667 377 290
Total other debt 359,725 325,332 34,393
Taxes payable:
- VAT payable 1,588 3,675 (2,087)
- Taxes withheld on payments to employees and independent contractors 1,972 2,144 (172)
- Other 428 441 (13)
Total taxes payable 3,988 6,260 (2,272)
Accrued expenses and deferred income 47 63 (16)
Total other debt 364,460 332,595 31,865