AIRBUS - 2020 Financial Statement

4. Notes to the IFRS Company Financial Statements /

11. Financial Assets and Financial Liabilities

Financial assets at 31 December 2020 and 2019 are as follows:

31 December

2020

2019

(In € million)

Long-term loans Airbus companies

1,345

1,794

Long-term loans external

0

0

Positive fair values of derivative financial instruments

2,424

3,066

Non-current financial assets

3,769

4,860

Positive fair values of derivative financial instruments

1,136

1,777

Current portion long-term loans Airbus companies

122

44

Current accounts Airbus companies (1)

11,167

8,574

12,425

10,395

Current financial assets

Total

16,194

15,255

(1) The receivables from subsidiaries include mainly transactions in connection with the cash pooling in Airbus SE. Terms and conditions are in agreement with the prevailing market environment.

Financial liabilities at 31 December 2020 and 2019 are as follows:

31 December

2020

2019

(In € million)

Negative fair values of derivative financial instruments

2,023

2,898

Non-current financial liabilities

2,023

2,898

Negative fair values of derivative financial instruments

1,143

1,793

Current accounts Airbus companies (1)

25,527

32,510

Current financial liabilities

26,670

34,303

Total

28,693

37,201

(1) The liabilities to subsidiaries include mainly transactions in connection with the cash pooling in Airbus SE. Terms and conditions are in agreement with the prevailing market environment.

12. Commitments and Contingencies

Off-Balance Sheet Commitments Airbus SE issued guarantees on behalf of Airbus companies in the amount of € 8,181 million (2019: € 7,040 million). The commitments of these companies to third parties mainly relate to their operating business as described in “– Note 21: Property, Plant and Equipment”, “– Note 28: Sales Financing Transactions” and “– Note 38: Financial Instruments” of the Consolidated Financial Statements. On 8 December 2015, Airbus SE entered into a partnership agreement to establish a corporate venture capital fund, dubbed Airbus Group Ventures, as well as a technology and business innovation center in Silicon Valley with a total commitment amount of US$150 million. On 25 November 2015, a first investment of US$ 5 million has been made into this fund. During the year 2020, Airbus SE made further capital contributions into Airbus Ventures Fund II for a total amount of US$15 million (total capital contribution 31 December 2019: €28 million).

On 1 April 2019, Airbus SE entered into a partnership agreement with effective date 1 July 2019 to establish a venture capital fund, dubbed Airbus Ventures Fund III, with a total commitment amount of US$100 million. On 28 August 2019, a first investment of US$5 million has been made into this fund. During the year 2020, Airbus SE made further capital contributions into Airbus Ventures Fund III for a total amount of US$6 million (total capital contribution 31 December 2019: €23 million). In addition, the Company has two guarantees to cover its obligation towards the Scheme and the BAE Systems pension schemes. To mitigate its exposure, the first guarantee covers an amount up to £400 million for an unlimited period of time while the second one covers an uncapped amount terminating in 2046, respectively for the Scheme and the BAE Systems Pension Schemes.

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Airbus / Financial Statements 2020