Chrysler 2014 Annual Report Download - page 212

210 2014 | ANNUAL REPORT
Consolidated
Financial Statements
Notes to the Consolidated
Financial Statements
The tax effect relating to Other comprehensive income/(loss) was as follows:
For the years ended December 31,
2014 2013 2012
Pre-tax
balance
Tax
income/
(expense)
Net
balance
Pre-tax
balance
Tax
income/
(expense)
Net
balance
Pre-tax
balance
Tax
income/
(expense)
Net
balance
(€ million)
Gains/(Losses) on
remeasurement of defined
benefit plans (333) 29 (304) 2,676 239 2,915 (1,846) 3 (1,843)
Gains/(losses) on cash flow
hedging instruments (292) 73 (219) 162 (27) 135 184 (24) 160
Gains/(losses) on available-
for-sale financial assets (24) — (24) 4 — 4 27 — 27
Exchange gains/(losses) on
translating foreign operations 1,282 — 1,282 (720) — (720) (285) — (285)
Share of Other comprehensive
income/(loss) for equity method
investees 47 — 47 (95) — (95) 40 — 40
Total Other comprehensive
income/(loss) 680 102 782 2,027 212 2,239 (1,880) (21) (1,901)
Non-controlling interest
Total non-controlling interest at December 31, 2014 of €313 million primarily related to the 10.0 percent interest held
in Ferrari S.p.A. of €194 million. Total non-controlling interest at December 31, 2013 of €4,258 million primarily related
to the 41.5 per cent interest held in FCA US of €3,944 million and to the 10.0 percent interest held in Ferrari S.p.A. of
€215 million.
Policies and processes for managing capital
For 2014, the Board of Directors has not recommended a dividend payment on FCA common shares in order to
further fund capital requirements of the Group’s five-year business plan presented on May 6, 2014.
The objectives identified by the Group for managing capital are to create value for shareholders as a whole, safeguard
business continuity and support the growth of the Group. As a result, the Group endeavors to maintain an adequate
level of capital that at the same time enables it to obtain a satisfactory economic return for its shareholders and
guarantee economic access to external sources of funds, including by means of achieving an adequate credit rating.
The Group constantly monitors the ratio between debt and equity, particularly the level of net debt and the generation
of cash from its industrial activities. In order to reach these objectives, the Group continues to aim for improvement in
the profitability of its operations. Furthermore, the Group may sell part of its assets to reduce the level of its debt, while
the Board of Directors may make proposals to Shareholders in the general meeting to reduce or increase share capital
or, where permitted by law, to distribute reserves. The Group may also make purchases of treasury shares, without
exceeding the limits authorized by Shareholders in the general meeting, under the same logic of creating value,
compatible with the objectives of achieving financial equilibrium and an improvement in the Group’s rating.