Chrysler 2012 Annual Report Download - page 297

Notes
296 Fiat S.p.A.
Statutory
Financial
Statements
at 31 December
2012
At 31 December 2012, debt payable to Group companies and other related parties in connection with the IRES tax consolidation amounting to
€137,891 thousand (€158,271 thousand at 31 December 2011) represents the remuneration due for the tax losses contributed by the Italian
subsidiaries to the domestic tax consolidation for 2012, the IRES tax credits of the Italian subsidiaries transferred to Fiat S.p.A. as part of the tax
consolidation procedure for 2012 and debt relating to the domestic tax consolidation for 2011.
Taxes payable and other debt are all due within one year and their carrying amount is deemed to approximate their fair value.
26. Guarantees granted, commitments and contingent liabilities
Guarantees issued
The breakdown of guarantees issued is as follows:
(€ thousand) 31 December 2012 31 December 2011 Change
Guarantees issued
Sureties
- on behalf of Group companies 208,229 230,100 (21,871)
- on behalf of third parties 850 886 (36)
Total sureties 209,079 230,986 (21,907)
Other guarantees
- on behalf of Group companies 12,677,284 11,684,864 992,420
- on behalf of third parties -- -
Total other guarantees 12,677,284 11,684,864 992,420
Total guarantees issued 12,886,363 11,915,850 970,513
At 31 December 2012, guarantees issued totaled €12,886.4 million, an increase of €970.5 million over 31 December 2011, and related principally to new
bonds issued by the subsidiary Fiat Finance and Trade Ltd. S.A. (representing the difference between guarantees on new bonds issued during the year in
the amount of €2,533.4 million and guarantees on bonds repaid during the year in the amount of €1,450 million).
Guarantees outstanding at 31 December 2012 were as follows:
Sureties
At 31 December 2012, sureties totaled €209.1 million, a decrease of €21.9 million over 31 December 2011.
This amount mostly relates to sureties provided on behalf of Group companies on Billets de Trésorerie issued (Fiat Finance and Trade Ltd. S.A.
€16.9 million), medium- to long-term loans granted by banks (€6.0 million) and lease payments on property (€185.3 million). Sureties granted to
third parties (€0.9 million) relate to the remaining interest-bearing certificates issued by Sava and not yet redeemed.
Other guarantees
At 31 December 2012, other guarantees totaled €12,677.3 million, an increase of €992.4 million over 31 December 2011.
All guarantees were issued on behalf of Group companies and consisted of the following:
€1,335.9 million for loans (Fiat Finance S.p.A. €650.0 million, Fiat Automoveis S.A. - FIASA €351.5 million, Fiat Automobiles Serbia Doo €294.4 million,
Fiat Finance and Trade Ltd. S.A. €40.0 million)
€10,130.5 million for bonds issued (Fiat Finance and Trade Ltd. S.A. €9,099.4 million and Fiat Finance North America Inc. €1,031.1 million)
€563.8 million for credit lines (Fiat Finance S.p.A. €413.0 million, Fiat Finance North America Inc. 75.8 million, Fiat Finance et Services S.A. €50.0 million
and Fiat Finance and Trade Ltd. S.A. €25.0 million)