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SCOPE OF CONSOLIDATION | 12 Months Ended
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Dec. 31, 2022
Scope of Consolidation [Abstract] |
SCOPE OF CONSOLIDATION | 3. SCOPE OF CONSOLIDATION Ferrari N.V. is the parent company of the Group and it holds, directly and indirectly, interests in the Group’s main operating companies. The Group’s scope of consolidation at December 31, 2022 and 2021 was as follows:
|  |  |  |  |  | At December 31, 2022 |  | At December 31, 2021
Name |  | Country |  | Nature of business |  | Shares held by the Group |  | Shares held by NCI |  | Shares held by the Group |  | Shares held by NCI
Directly held interests |  |  |  |  |  |  |  |  |  |  |  |
Ferrari S.p.A. |  | Italy |  | Engineering, manufacturing and sales |  | 100 | % |  | — | % |  | 100 | % |  | — | %
New Business 33 S.p.A. (1) |  | Italy |  | Engineering, manufacturing and sales |  | 100 | % |  | — | % |  | 100 | % |  | — | %
Indirectly held through Ferrari S.p.A. |  |  |  |  |  |  |  |  |  |  |  |
Ferrari North America Inc. |  | USA |  | Importer and distributor |  | 100 | % |  | — | % |  | 100 | % |  | — | %
Ferrari Japan KK |  | Japan |  | Importer and distributor |  | 100 | % |  | — | % |  | 100 | % |  | — | %
Ferrari Australasia Pty Limited |  | Australia |  | Importer and distributor |  | 100 | % |  | — | % |  | 100 | % |  | — | %
Ferrari International Cars Trading (Shanghai) Co. L.t.d. |  | China |  | Importer and distributor |  | 80 | % |  | 20 | % |  | 80 | % |  | 20 | %
Ferrari (HK) Limited |  | Hong Kong |  | Importer and distributor |  | 100 | % |  | — | % |  | 100 | % |  | — | %
Ferrari Far East Pte Limited |  | Singapore |  | Service company |  | 100 | % |  | — | % |  | 100 | % |  | — | %
Ferrari Management Consulting (Shanghai) Co. L.t.d. |  | China |  | Service company |  | 100 | % |  | — | % |  | 100 | % |  | — | %
Ferrari South West Europe S.a.r.l. |  | France |  | Service company |  | 100 | % |  | — | % |  | 100 | % |  | — | %
Ferrari Central Europe GmbH |  | Germany |  | Service company |  | 100 | % |  | — | % |  | 100 | % |  | — | %
G.S.A. S.A. in liquidation |  | Switzerland |  | Service company |  | 100 | % |  | — | % |  | 100 | % |  | — | %
Mugello Circuit S.p.A. |  | Italy |  | Racetrack management |  | 100 | % |  | — | % |  | 100 | % |  | — | %
Ferrari Financial Services, Inc. |  | USA |  | Financial services |  | 100 | % |  | — | % |  | 100 | % |  | — | %
Indirectly held through other Group entities |  |  |  |  |  |  |  |  |  |  |  |
Ferrari Auto Securitization Transaction LLC (2) |  | USA |  | Financial services |  | 100 | % |  | — | % |  | 100 | % |  | — | %
Ferrari Auto Securitization Transaction - Lease, LLC (2) |  | USA |  | Financial services |  | 100 | % |  | — | % |  | 100 | % |  | — | %
Ferrari Auto Securitization Transaction - Select, LLC (2) |  | USA |  | Financial services |  | 100 | % |  | — | % |  | 100 | % |  | — | %
Ferrari Financial Services Titling Trust (2) |  | USA |  | Financial services |  | 100 | % |  | — | % |  | 100 | % |  | — | %
410 Park Display, Inc. (3) |  | USA |  | Retail |  | 100 | % |  | — | % |  | 100 | % |  | — | %
_____________________________ (1) New Business 33 S.p.A. was consolidated by the Group starting in 2022, which is when it started operational activities. (2) Shareholding held by Ferrari Financial Services Inc. (3) Shareholding held by Ferrari North America Inc. Non-controlling interests The non-controlling interests at December 31, 2022 and 2021 and the net profit attributable to non-controlling interests for the years ended December 31, 2022, 2021 and 2020 relate to Ferrari International Cars Trading (Shanghai) Co. L.t.d. (“FICTS”), in which the Group holds an 80 percent interest.
| At December 31,
| 2022 |  | 2021
| (€ thousand)
Equity attributable to non-controlling interests | 9,630 |  |  | 5,518 |
| For the years ended December 31,
| 2022 |  | 2021 |  | 2020
| (€ thousand)
Net profit attributable to non-controlling interests | 6,680 |  |  | 2,369 |  |  | 1,063 |
The non-controlling interests in FICTS are not considered to be significant to the Group for the periods presented in these Consolidated Financial Statements. Restrictions The Group may be subject to restrictions which limit its ability to use cash in relation to its interest in FICTS. In particular, cash held in China is subject to certain repatriation restrictions and may only be repatriated as a repayment of payables or debt, or through a payment of dividends or capital distributions. The Group does not believe that such transfer restrictions have any adverse impacts on its ability to meet liquidity requirements. Cash held in China at December 31, 2022 amounted to €96,726 thousand (€89,611 thousand at December 31, 2021). Cash collected from the settlement of receivables under securitization programs is subject to certain restrictions regarding its use and is principally applied to repay principal and interest of the related funding. Such cash amounted to €44,085 thousand at December 31, 2022 (€47,742 thousand at December 31, 2021).

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- Definition The disclosure of the basis used for consolidation. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2022-03-24 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2022-en-r&anchor=para_10_e&doctype=Standard -URIDate 2022-03-24 + Details
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- Definition Scope of Consolidation [Abstract] + References No definition available. + Details
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