AIRBUS - 2020 Financial Statement

4. Notes to the IFRS Company Financial Statements /

15. Cash, Securities and Financing Liabilities

15.1 Net Cash

31 December

2020

2019

(In € million)

Cash and cash equivalents

10,671

8,129

1,592

2,255

Current securities

5,021

10,811

Non-current securitries

17,284

21,195

Gross cash position

(1,156)

0

Short-term financing liabilities

Long-term financing liabilities

(11,356)

(6,580)

Total

4,772

14,615

The net cash position on 31 December 2020 amounted to €4,772 (2019: €14,615 million), with a gross cash position of €17,284 million (2019: €21,195 million).

15.2 Cash and Cash Equivalents Cash and cash equivalents are composed of the following elements:

31 December

2020

2019

(In € million)

Bank accounts and petty cash

405

463

9,654

7,014

Short-term securities (at fair value through profit or loss)

512

652

Short-term securities (at fair value through OCI)

100

0

Short-term investment (at amortised cost)

Total cash and cash equivalents

10,671

8,129

Only securities with a maturity of three months or less from the date of the acquisition, that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value are recognised in cash equivalents.

15.3 Securities

31 December

2020

2019

(In € million)

Current securities at fair value through OCI

1,592

2,255

5,021

10,811

Non-current securities at fair value through OCI

Total securities

6,613

13,066

The majority of the Company’s securities consists of debt securities and are classi f ied at fair value through OCI (see “– Note 38.2: Carrying Amounts and Fair Values of Financial Instruments” of the Consolidated Financial Statements). Included in the securities portfolio as of 31 December 2020 and 2019, respectively, are corporate and government bonds bearing either fixed rate coupons (€6,357 million nominal value; 2019: €12,586 million) or floating rate coupons (€50 million nominal value; 2019: €121 million).

When the Company enters into securities lending or other financing activities that involve the pledging of securities as collateral, the securities pledged continue to be recognised on the balance sheet. As of 31 December 2020, securities for an amount of €99 million were pledged as collateral for borrowings from banks (2019: €145 million).

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Airbus / Financial Statements 2020