Chrysler 2015 Annual Report Download - page 252

252 2015 | ANNUAL REPORT
Company Financial
Statements
Notes to the Company
Financial Statements
On June 17, 2015, subject to the terms and conditions set forth in our prospectus, we commenced an offer to
exchange up to €1.4 billion (U.S.$1.5 billion) aggregate principal amount of new 4.5 percent unsecured senior debt
securities due 2020 (“2020 Notes”), for any and all of our outstanding Initial 2020 Notes issued on April 14, 2015, and
up to €1.4 billion (U.S.$1.5 billion) aggregate principal amount of new 5.25 percent unsecured senior debt securities
due 2023 (“2023 Notes”), for any and all of our outstanding Initial 2023 Notes issued on April 14, 2015. The 2020
Notes and the 2023 Notes, collectively referred to as “the Notes”, were identical in all material respects to the Initial
Notes, except that the Notes did not contain restrictions on transfer. The exchange offer expired on July 23, 2015.
Substantially all of the Initial Notes were tendered for the Notes.
Intercompany financial payables primarily 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.
17. Other non-current liabilities
At 31 December 2015, other non-current liabilities totaled €15 million, in line with 31 December 2014:
At December 31,
2015 2014 Change
(€ million)
Other non-current liabilities 15 15 —
Total Other non-current liabilities 15 15 —
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.
18. Provisions for employee benefits and other current provisions
Employee benefit provisions reflect the best estimate for variable components of compensation:
At December 31,
2015 2014 Change
(€ million)
Provisions for employee benefits and other current provisions 32 1
Total Provisions for employee benefits and other current provisions 32 1
19. Trade payables
At December 31, 2015, trade payables totaled €24 million, an increase of €5 million from December 31, 2014, and
consisted of the following:
At December 31,
2015 2014 Change
(€ million)
Trade payables due to third parties 13 14 (1)
Intercompany trade payables 11 5 6
Total trade payables 24 19 5
Trade payables are due within one year and their carrying amount at the reporting date is deemed to approximate their
fair value.