Chrysler 2014 Annual Report Download - page 266

264 2014 | ANNUAL REPORT
Company Financial
Statements
Notes to the Company
Financial Statements
6. Income taxes
Income taxes were a gain of €9 million in the current year (gain of €15 million in 2013) and relate to compensation
receivable for tax losses carried forward contributed to the Italian tax consolidation scheme.
The Company reported losses for tax purposes as the result from investments resulting from the adoption of the equity
method is tax neutral.
Deferred tax liabilities refer to the impact of Italian local tax on certain temporary differences.
7. Property, plant and equipment
At December 31, 2014, the gross carrying amount of property, plant and equipment was €68 million (€65 million as at
December 31, 2013) and accumulated depreciation was €39 million (€36 million as at December 31, 2013), of which
€24 million (€25 million as at December 31, 2013) was for land and buildings which mainly consists of the Company’s
property at Via Nizza 250, Turin.
No buildings were subject to liens, pledged as collateral or restricted in use.
Depreciation of property, plant and equipment is recognized in the income statement under other operating costs.
8. Equity investments
At December 31, 2014, Equity investments in subsidiaries and associates totaled €22,103 million and Other equity
investments totaled €124 million.
At December 31,
2014 2013 Change
(€ million)
Investments in subsidiaries and associates 22,103 12,397 9,706
Other equity investments 124 298 (174)
Total equity investments 22,227 12,695 9,532
Equity investments in subsidiaries and associates were subject to the following changes during the year:
2014
(€ million)
Balance at beginning of year 12,397
Acquisition of minorities 1,325
Net contributions made to subsidiaries 6,537
Result from investments 1,124
Cumulative translation adjustments and other OCI movements 738
Other (18)
Balance at end of year 22,103
Acquisition of minorities is primarily due to the transaction by which Chrysler became fully owned by the Group.
Net contributions made to subsidiaries refer almost entirely to the following intercompany transactions:
acquisition of 100% of Fiat Chrysler Automobiles North America Holdings LLC from FCA Italy S.p.A for a
consideration of €7,250 million;
acquisition of Magneti Marelli Inc., Comau Inc. and Alfa Romeo USA Inc. for an aggregate of €725 million;
sale of Fiat Partecipazioni S.p.A.to FCA Italy S.p.A. for an amount of €1,450 million.