United States Securities and Exchange Commission Form
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F REGISTRATION STATEMENT PURSUANT TO SECTIONS 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2016 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-36085 Fiat Chrysler Automobiles N.V. (Exact Name of Registrant as Specified in Its Charter) The Netherlands (Jurisdiction of Incorporation or Organization) 25 St. James's Street London SW1A 1HA United Kingdom Tel. No.: +44 (0) 20 7766 0311 (Address, Including Zip Code, and Telephone Number, Including Area Code, of Registrant’s Principal Executive Offices) Richard K. Palmer 25 St. James's Street London SW1A 1HA United Kingdom Tel. No.: +44 (0) 20 7766 0311 (Name, Address, Including Zip Code, and Telephone Number, Including Area Code, of Company Contact Person) Securities registered pursuant to Section 12(b) of the Act: Title of Each Class Name of Each Exchange on which Registered Common Shares, par value €0.01 New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: None Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report: 1,527,965,719 common shares, par value €0.01 per share, and 408,941,767 special voting shares, par value €0.01 per share. Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes No If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Act of 1934. Yes No Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes No Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of “accelerated filer and large accelerated filer” in Rule 12b-2 of the Exchange Act. (Check one): Large accelerated filer Accelerated filer Non-accelerated filer Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing: U.S. GAAP International Financial Reporting Standards as issued by the International Accounting Standards Board Other If “Other” has been checked in response to the previous question indicate by check mark which financial statement item the registrant has elected to follow: Item 17 or Item 18 . If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No (APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS) Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes No TABLE OF CONTENTS Page CERTAIN DEFINED TERMS AND PRESENTATION OF FINANCIAL AND OTHER DATA iii FORWARD LOOKING STATEMENTS iii PART I Item 1. Identity of Directors, Senior Management and Advisers 1 Item 2. Offer Statistics and Expected Time Table 1 Item 3. Key Information 1 A. Selected Financial Data 1 B. Capitalization and Indebtedness 5 C. Reason for the Offer and Use of Proceeds 5 D. Risk Factors 5 Item 4. Information on the Company 21 A. History and Development of the Company 21 B. Business Overview 23 C. Organizational Structure 46 D. Property, Plant and Equipment 47 Item 4A. Unresolved Staff Comments 48 Item 5. Operating and Financial Review 49 Overview 49 Our Business Plan 49 Trends, Uncertainties and Opportunities 49 Critical Accounting Estimates 53 Non-GAAP Financial Measures 59 A. Operating Results 61 B. Liquidity and Capital Resources 82 C. Research and Development, Patents and Licenses 94 D. Trend Information 96 E. Off-Balance Sheet Arrangements 97 F. Tabular Disclosure of Contractual Obligations 97 G. Safe Harbor 98 Item 6. Directors, Senior Management and Employees 99 A. Directors and Senior Management 99 B. Compensation 108 C. Board Practices 122 D. Employees 124 E. Share Ownership 126 Item 7. Major Shareholders and Related Party Transactions 127 A. Major Shareholders 127 B. Related Party Transactions 128 C. Interests of Experts and Counsel 128 i Page Item 8. Financial Information 129 A. Consolidated Statements and Other Financial Information 129 B. Significant Changes 129 Item 9. The Offer and Listing 130 A. Offer and Listing Details 130 B. Plan of Distribution 130 C. Markets 131 D. Selling Shareholders 131 E. Dilution 131 F. Expenses of the Issue 131 Item 10. Additional Information 132 A. Share Capital 132 B. Memorandum and Articles of Association 132 C. Material Contracts 147 D. Exchange Controls 147 E. Taxation 147 F. Dividends and Paying Agents 156 G. Statements by Experts 156 H. Documents on Display 156 I. Subsidiary Information 156 Item 11. Quantitative and Qualitative Disclosures 157 Item 12. Description of Securities Other than Equity Securities 161 A. Debt Securities 161 B. Warrants and Rights 161 C. Other Securities 161 D. American Depositary Shares 161 PART II Item 13. Defaults, Dividend Arrearages and Delinquencies 161 Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds 161 Item 15. Controls and Procedures 161 Item 16A. Audit Committee Financial Expert 164 Item 16B. Code of Ethics 164 Item 16C. Principal Accountant Fees and Services 164 Item 16D. Exemptions from the Listing Standards for Audit Committees 164 Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers 164 Item 16F. Change in the Registrant's Certifying Accountant 165 Item 16G. Corporate Governance 165 Item 16H. Mine Safety Disclosure 166 Item 17. Financial Statements 166 Item 18. Financial Statements 166 Item 19. Exhibits 167 Signatures 168 ii Certain Defined Terms In this report, unless otherwise specified, the terms “we,” “our,” “us,” the “Group,” “Fiat Group,” the “Company” and “FCA” refer to Fiat Chrysler Automobiles N.V., together with its subsidiaries and its predecessor prior to the completion of the merger of Fiat S.p.A. with and into Fiat Investments N.V. on October 12, 2014 (at which time Fiat Investments N.V. was renamed Fiat Chrysler Automobiles N.V., or FCA NV), the “Merger” or any one or more of them, as the context may require. References to “Fiat” refer solely to Fiat S.p.A., the predecessor of FCA NV prior to the Merger. Reference to “FCA US” refers to FCA US LLC, together with its direct and indirect subsidiaries. Presentation of Financial and Other Data This report includes the consolidated financial statements of the Group as of December 31, 2016 and 2015 and for the years ended December 31, 2016, 2015 and 2014 prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). We refer to the consolidated financial statements and the notes to the consolidated financial statements collectively as the “Consolidated Financial Statements.” All references in this report to “Euro” and “€” refer to the currency introduced at the start of the third stage of European Economic and Monetary Union pursuant to the Treaty on the Functioning of the European Union, as amended. The Group’s financial information is presented in Euro. All references to “U.S. Dollars,” “U.S. Dollar,” “U.S.$” and “$” refer to the currency of the United States of America (or “U.S.”). The language of the document is English. Certain legislative references and technical terms have been cited in their original language in order that the correct technical meaning may be ascribed to them under applicable law. Certain totals in the tables included in this report may not add due to rounding. Forward-Looking Statements Statements contained in this report, particularly those regarding possible or assumed future performance, competitive strengths, costs, dividends, reserves and growth of FCA, industry growth and other trends and projections and estimated company earnings are “forward-looking statements” that contain risks and uncertainties. In some cases, words such as “may,” “will,” “expect,” “could,” “should,” “intend,” “estimate,” “anticipate,” “believe,” “outlook,” “continue,” “remain,” “on track,” “target,” “objective,” “goal,” “plan,” “design,” “forecast,” “projection,” “prospects,” or similar terms are used to identify forward-looking statements. These forward-looking statements reflect the respective