Chrysler 2014 Annual Report Download - page 206

204 2014 | ANNUAL REPORT
Consolidated
Financial Statements
Notes to the Consolidated
Financial Statements
Cash flow hedges
The effects recognized in the Consolidated income statement mainly relate to currency risk management and, to a
lesser extent, to hedges regarding commodity price risk management and the cash flows that are exposed to an
interest rate risk.
The Group’s policy for managing currency risk normally requires hedging of projected future cash flows from trading
activities which will occur within the following twelve months, and from orders acquired (or contracts in progress),
regardless of their due dates. The hedging effect arising from this and recorded in the cash flow hedge reserve will be
recognized in the Consolidated income statement, mainly during the following year.
Derivatives relating to interest rate and currency risk management are treated as cash flow hedges and are entered into
for the purpose of hedging bonds issued in foreign currencies. The amount recorded in the cash flow hedge reserve is
recognized in the Consolidated income statement according to the timing of the flows of the underlying bonds.
21. Cash and cash equivalents
Cash and cash equivalents consisted of:
At December 31,
2014 2013
(€ million)
Cash at banks 10,645 9,939
Money market securities 12,195 9,516
Total Cash and cash equivalents 22,840 19,455
These amounts include cash at banks, units in money market funds and other money market securities, comprising
commercial paper and certificates of deposit that are readily convertible into cash, with original maturities of three
months or less at the date of purchase. Cash and cash equivalents are subject to an insignificant risk of changes
in value, and consist of balances spread across various primary national and international banking institutions, and
money market instruments.
The item Cash at banks includes bank deposits which may be used exclusively by Group companies entitled to
perform specific operations (cash with a pre-determined use) amounting to €3 million at December 31, 2014 (€3
million at December 31, 2013).
22. Assets and Liabilities held for sale
The items included in Assets and liabilities held for sale were as follows:
At December 31,
2014 2013
(€ million)
Property, plant and equipment 81
Investments and other financial assets 2—
Inventories —3
Trade and other receivables —5
Total Assets held for sale 10 9
Provisions —5
Trade and other payables —16
Total Liabilities held for sale —21