Chrysler 2013 Annual Report Download - page 301

300 Fiat S.p.A.
Statutory Financial
Statements
at 31 December 2013
Notes
be directly or indirectly sold, assigned or transferred, restricted, pledged, or used as collateral or other form of guarantee. Including the special
voting shares, the Company holds 3.72% of total voting rights in CNH Industrial.
Finally, other changes in the investment in CNH Industrial during 2013 included a €0.7 million increase following the purchase of 76,623 common
shares following the exercise by some shareholders of withdrawal rights on Fiat Industrial shares in relation to the above merger. The €2.6 million
decrease related to shares sold during 2013 following exercise of 285,000 options under the November 2006 stock option plan for managers.
The investments in Fin. Priv. S.r.l. and Assicurazioni Generali S.p.A., which are classified as non-current financial assets and not held for trading,
have been recognized at fair value. For Assicurazioni Generali S.p.A., a listed company, fair value corresponds to the market price of the shares
held at the balance sheet date. For Fin. Priv. S.r.l., a holding company whose assets are principally listed securities, fair value was based on
the market price of the investments in its portfolio. This resulted in a €4.0 million increase in the investments in Fin. Priv. S.r.l. and Assicurazioni
Generali S.p.A. for 2013, with a corresponding adjustment to equity (see Note 18).
There were no investments in other companies in relation to whose obligations Fiat S.p.A. had unlimited liability (Article 2361.2 of the Civil
Code).
A full list of investments with the additional disclosures required by Consob Communication DEM/6064293 of 28 July 2006 is attached.
At 31 December 2013 and 2012, no investments held by the Company had been pledged as security for financial or contingent liabilities.
During 2012, changes in investments were as follows:
(€ thousand)
31 December
2011 Increases Decreases
Reclassification
and other changes
Impairment
(losses)/reversals
and Fair Value
adjustments
31 December
2012
Investments in subsidiaries 11,725,979 574,848 - - (927,612) 11,373,215
Investments in associates 131,785 - - - (35,266) 96,519
Investments in other companies 265,155 4 (26,500) - 56,622 295,281
Total investments 12,122,919 574,852 (26,500) - (906,256) 11,765,015
12. Other financial assets
A breakdown of other financial assets is provided in the following table:
(€ thousand) 31 December 2013 31 December 2012 Change
Fees receivable for guarantees given 13,953 12,035 1,918
Debt securities 75 74 1
Total other financial assets 14,028 12,109 1,919
Fees receivable for guarantees given represent the present value of fees to be received in future years for guarantees issued by the Company
(mainly relating to loans of Group companies).
Debt securities consist of listed Italian government securities pledged to fund scholarship grants.