Current financial receivables

At 31 December 2013, the total was zero. At 31 December 2012, current financial receivables totaled €58,281 thousand and represented the positive fair value of two equity swaps on Fiat and Fiat Industrial shares entered into by Fiat Finance S.p.A., on behalf of Fiat S.p.A., to hedge against an increase in the share price above the exercise price of the stock options granted to the Chief Executive Officer in 2004. The fair value of those equity swaps was based on market quotations at the balance sheet date. As described in Note 7, those contracts were closed in December 2013.