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DEBT (Tables) | 12 Months Ended
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Dec. 31, 2022
Financial Instruments [Abstract] |
Disclosure of debt instruments |
| Balance at December 31, 2021 |  | Proceeds from borrowings |  | Repayments of borrowings |  | Interest accrued/(paid) and other (*) |  | Translation differences |  | Balance at December 31, 2022
| (€ thousand)
Bonds and notes | 1,487,110 |  |  | — |  |  | — |  |  | 3,209 |  |  | — |  |  | 1,490,319 |
Asset-backed financing (Securitizations) | 900,213 |  |  | 218,924 |  |  | (72,824) |  |  | 1,733 |  |  | 57,379 |  |  | 1,105,425 |
Borrowings from banks and other financial institutions | 154,419 |  |  | 8,909 |  |  | (55,000) |  |  | 560 |  |  | 4,277 |  |  | 113,165 |
Lease liabilities | 56,210 |  |  | — |  |  | (16,500) |  |  | 17,409 |  |  | 304 |  |  | 57,423 |
Other debt | 32,059 |  |  | 34,456 |  |  | (23,215) |  |  | — |  |  | 2,147 |  |  | 45,447 |
Total debt | 2,630,011 |  |  | 262,289 |  |  | (167,539) |  |  | 22,911 |  |  | 64,107 |  |  | 2,811,779 |
______________________________ (*) Other changes in lease liabilities relates entirely to non-cash movements for the recognition of additional lease liabilities in accordance with IFRS 16. The following table presents information relating to the revolving securitization programs:
Program | Funding Limit |  | Amount Outstanding at December 31, 2022 |  | Amount Outstanding at December 31, 2021 |  | Maturity Date
| ($ million) |  | ($ million) |  | ($ million) |  |
Retail (*) | 975 |  |  | 896 |  |  | 775 |  |  | December 2024
Leasing (*) | 325 |  |  | 283 |  |  | 245 |  |  | November 2023
Total asset-backed financing (Securitizations) | 1,300 |  |  | 1,179 |  |  | 1,020 |  |  |
(*) At December 31, 2022 the notes relating to the retail securitization program bore interest at a rate per annum equal to the aggregate of a synthetic base rate substantially replicating the LIBOR plus a margin of 70 basis points and the notes relating to the leasing securitization program bore interest at a rate per annum equal to the aggregate of SOFR plus a margin of 65 basis points. Borrowings from banks and other financial institutions The following table presents information relating to borrowings from banks and other financial institutions.
Borrowing Entity | Currency |  | Amount Outstanding at December 31, 2022 |  | Amount Outstanding at December 31, 2021 |  | Maturity Date
|  |  | (€ thousand) |  | (€ thousand) |  |
Ferrari S.p.A. | EUR |  | 37,500 |  | 62,500 |  | June 2024
Ferrari Financial Services, Inc. | USD |  | 75,665 |  | 61,919 |  | April 2023
Ferrari S.p.A. | EUR |  | — |  | 30,000 |  | January 2022
Total borrowings from banks and other financial institutions |  |  | 113,165 |  | 154,419 |  |
Disclosure of debt maturity | The breakdown of debt by nature and by maturity is as follows:
| At December 31,
| 2022 |  | 2021
| Due within one year |  | Due between one and five years |  | Due beyond five years |  | Total |  | Due within one year |  | Due between one and five years |  | Due beyond five years |  | Total
| (€ thousand)
Bonds and notes | 394,628 |  |  | 646,306 |  |  | 449,385 |  |  | 1,490,319 |  |  | 9,239 |  |  | 1,028,686 |  |  | 449,185 |  |  | 1,487,110 |
Asset-backed financing (Securitizations) | 422,736 |  |  | 682,689 |  |  | — |  |  | 1,105,425 |  |  | 343,119 |  |  | 499,280 |  |  | 57,814 |  |  | 900,213 |
Borrowings from banks and other financial institutions | 100,665 |  |  | 12,500 |  |  | — |  |  | 113,165 |  |  | 116,919 |  |  | 37,500 |  |  | — |  |  | 154,419 |
Lease liabilities | 15,917 |  |  | 29,446 |  |  | 12,060 |  |  | 57,423 |  |  | 14,783 |  |  | 29,732 |  |  | 11,695 |  |  | 56,210 |
Other debt | 45,447 |  |  | — |  |  | — |  |  | 45,447 |  |  | 32,059 |  |  | — |  |  | — |  |  | 32,059 |
Total debt | 979,393 |  |  | 1,370,941 |  |  | 461,445 |  |  | 2,811,779 |  |  | 516,119 |  |  | 1,595,198 |  |  | 518,694 |  |  | 2,630,011 |

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