Tax benefits drive up Chrysler 4Q net earnings - 13abc.com Toledo (OH) News, Weather and Sports

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 $345 million excluding one-time items. Without earnings from Chrysler, Fiat would have lost $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 This material may not be published, broadcast, rewritten or redistributed.

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