Chrysler 2013 Annual Report Download - page 315

314 Fiat S.p.A.
Statutory Financial
Statements
at 31 December 2013
Notes
Other non-current provisions
At 31 December 2013, other non-current provisions totaled €652 thousand (€748 thousand at 31 December 2012) and mainly related to
future amounts to be paid to employees who left the Company in previous years under a long-term benefit program which bridges the period
prior to retirement.
During 2012, changes in provisions for employee benefits and other non-current provisions were as follows:
(€ thousand) 1 January 2012 Accruals Utilizations Other changes 31 December 2012
Defined benefit liability 14,352 1,245 (404) (617) 14,576
Other long-term employee benefits 922 603 (220) 335 1,640
Provisions for stock option and stock grant plans 121,604 30,292 (26,500) (449) 124,947
Other non-current provisions 929 - (181) - 748
Total provisions for employee benefits
and other non-current provisions 137,807 32,140 (27,305) (731) 141,911
20. Non-current debt
At 31 December 2013, non-current debt totaled €413,953 thousand, a decrease of €998,082 thousand over 31 December 2012, and
included the following:
(€ thousand) 31 December 2013 31 December 2012 Change
Debt payable to Group companies 400,000 1,400,000 (1,000,000)
Financial guarantees 13,953 12,035 1,918
Total non-current debt 413,953 1,412,035 (998,082)
Debt payable to Group companies related to euro-denominated loans received from Fiat Finance S.p.A. with original maturity over 12 months.
Amounts due within 12 months are also included under non-current debt. Changes during 2013 included repayment of a €1 billion loan received
on 24 May 2006 and due 25 February 2013. At 31 December 2013, there was a €400 million loan outstanding (issued on 30 March 2012 and
repayable 31 March 2014) which bears interest of 6.52% per annum. The carrying amount of the loan was considered representative of its fair
value at the balance sheet date.
Financial guarantees represent the fair value of the liabilities assumed in relation to guarantees issued. Following an assessment of potential
risks requiring recognition of contingent liabilities and given that those liabilities essentially related to guarantees provided on loans to Group
companies, the present value of fees receivable (see other financial assets in Note 12) is considered the best estimate of the fair value of those
guarantees.
The breakdown by maturity is as follows:
(€ thousand) 31 December 2013 31 December 2012
Financial guarantees
due within one year 4,396 3,789
due after one year but within five years 9,453 8,242
due beyond five years 104 4
Total 13,953 12,035