Tax benefits drive up Chrysler 4Q net earnings

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DETROIT (AP) — Chrysler Group’s fourth-quarter net income
more than quadrupled to $1.62 billion, aided by $962 million in one-time
tax benefits.
Without the benefits, the company made $659 million, still 74 percent more than a year ago.
Chrysler’s
performance helped to prop up Fiat, its Italian owner, which made 252
million euros ($345 million) excluding one-time items. Without earnings
from Chrysler, Fiat would have lost 235 million euros ($321 million).
Fiat
owned 58.5 percent of Chrysler last year. It has since bought the rest
from a trust fund that pays health care bills for union retirees.
Chrysler’s 10th-straight profitable quarter came because of strong U.S. sales of Ram pickups and Jeep
Grand Cherokees.
For the full year, Chrysler made $1.8 billion excluding tax benefits, its best performance since leaving
bankruptcy in 2009.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.
DETROIT (AP) — Chrysler Group’s fourth-quarter net income
more than quadrupled to $1.62 billion, aided by $962 million in one-time
tax benefits.
Without the benefits, the company made $659 million, still 74 percent more than a year ago.
Chrysler’s
performance helped to prop up Fiat, its Italian owner, which made 252
million euros ($345 million) excluding one-time items. Without earnings
from Chrysler, Fiat would have lost 235 million euros ($321 million).
Fiat
owned 58.5 percent of Chrysler last year. It has since bought the rest
from a trust fund that pays health care bills for union retirees.
Chrysler’s 10th-straight profitable quarter came because of strong U.S. sales of Ram pickups and Jeep
Grand Cherokees.
For the full year, Chrysler made $1.8 billion excluding tax benefits, its best performance since leaving
bankruptcy in 2009.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.

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