Statement of Cash Flows (*)

cash flow
 (€ thousand)    2010   2009 
A) CASH AND CASH EQUIVALENTS AT BEGINNING OF THE YEAR    474   495 
B) CASH FROM/(USED IN) OPERATING ACTIVITIES:      
Profit/(loss) for the period    441,959   339,964 
Amortization and depreciation    1,714   1,706 
Non-cash cost of stock option plans    17,241   4,659 
Impairment losses/(reversals) on investments    (155,700)   858,000 
Fair value adjustment to equity swaps on Fiat shares    (107,070)   (116,992) 
Losses/(gains) on disposals    (33)   - 
Change in provisions for employee benefits and other provisions   (4,559)   1,141 
Change in deferred taxes    7,000   (5,858) 
Change in working capital    (137,315)   274,280 
TOTAL   63,237   1,356,900 
C) CASH FROM/(USED IN) INVESTING ACTIVITIES:      
Investments relating to:      
Incorporation and capitalization of subsidiaries    (2,258,853)   (406,467) 
Reductions in investments relating to:      
Proceeds from disposals    36   - 
Other (investments)/disposals, net    3,706   (6,429) 
TOTAL   (2,255,111)   (412,896) 
D) CASH FROM/(USED IN) FINANCING ACTIVITIES:      
Change in current financial assets    197,418   (606,947) 
Proceeds from non-current financial payables and other changes   2,194,660   6,251 
Repayment of non-current financial payables    (400,000)   - 
Change in current financial liabilities    436,681   (318,556) 
Increase in share capital    -   - 
Purchase of own shares    -   - 
Sale of own shares    -   - 
Dividends paid    (237,119)   (24,773) 
TOTAL   2,191,640   (944,025) 
E) NET CHANGE IN CASH AND CASH EQUIVALENTS    (234)   (21) 
F) CASH AND CASH EQUIVALENTS AT END OF THE YEAR    240   474 
(*) Pursuant to Consob Resolution 15519 of 27 July 2006, the effects of transactions with related parties on the Statement of Cash Flows of Fiat S.p.A. are presented in a specific statement of cash flows provided on the following pages.

© 2011 FIAT S.p.A - P.IVA 00469580013