Chrysler 2014 Annual Report Download - page 270
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268 2014 | ANNUAL REPORT
Company Financial
Statements
Notes to the Company
Financial Statements
15. Non-current debt
At December 31, 2014, non-current debt totaled €197 million, representing a decrease of €217 million over
December 31, 2013, and consisted of the following:
At December 31,
2014 2013 Change
(€ million)
Intercompany financial payable 181 400 219
Financial guarantees 16 14 (2)
Total Non-current debt 197 414 217
Intercompany financial payable relate to the euro-denominated loans due December 30, 2017, entered into with
Magneti Marelli S.p.A. (€162 million), Comau S.p.A. (€19 million) and FCA Italy S.p.A. (€0.2 million) following the
acquisition of certain subsidiaries based in the US on December 30, 2014.
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 is considered the
best estimate of the fair value of those guarantees.
16. Other non-current liabilities
At December 31, 2014, other non-current liabilities totaled €15 million, representing a net decrease of €1 million over
December 31, 2013.
At December 31,
2014 2013 Change
(€ million)
Other non-current liabilities 15 16 (1)
Total Other non-current liabilities 15 16 (1)
Other non-current liabilities relate to non-current post-employment benefits, being the present value of future benefits
payable to a former CEO and management personnel that have left the Company.
17. Provisions for employee benefits and other current provisions
This item reflects the best estimate for variable components of compensation:
At December 31,
2014 2013 Change
(€ million)
Provisions for employee bonuses and similar provisions 211 (9)
Provisions for employee bonuses and similar provisions 211 (9)