Chrysler 2013 Annual Report Download - page 325

324 Fiat S.p.A.
Statutory Financial
Statements
at 31 December 2013
Notes
28. Fair value measurement
IFRS 7 requires financial instruments recognized at fair value in the statement of financial position to be classified on the basis of a hierarchy
that reflects the significance of the inputs used in determining fair value. This hierarchical classification applies the following levels:
Level 1 – quoted prices in active markets for the asset or liability being measured
Level 2 – inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or
indirectly (i.e., derived from prices) on the market
Level 3 – inputs that are not based on observable market data
The following table provides the fair value hierarchy, at 31 December 2013, of assets and liabilities measured at fair value on a recurring basis:
(€ thousand) Note Level 1 Level 2 Level 3 Total
Assets at fair value:
Investments in other companies (available for sale)
recognized at fair value directly in equity or through profit and loss (11) 284,963 13,636 - 298,599
Total assets 284,963 13,636 - 298,599
Total liabilities ----
In 2013, there were no transfers between levels in the fair value hierarchy.
In relation to the fair value measurement of the investment in Fin. Priv. S.r.l. of €13,636 thousand, and classified as Level 2 in the hierarchy,
see Note 11.
29. Intercompany and related-party transactions
Intercompany and related-party transactions for Fiat S.p.A. consist for the most part of transactions carried out with the Company’s subsidiaries
on commercial terms that are normal in the respective markets, considering the characteristics of the goods or services involved.