AIRBUS - 2020 Financial Statement

2. Notes to the IFRS Consolidated Financial Statements / 2.5 Operational Assets and Liabilities

On-Balance Sheet Operating and Finance Leases The future minimum operating lease payments (undiscounted) due from customers to be included in revenue, and the future minimum lease payments (undiscounted) from investments in finance leases to be received in settlement of the outstanding receivable at 31 December 2020 are as follows:

Aircraft under operating lease

Finance lease receivables

(In € million)

Not later than one year

6

1

Later than one year and not later than five years

19

12

Later than five years

0

0

31 December 2020

25

13

Financing Liabilities Financing liabilities from sales financing transactions are mainly based on variable interest rates (see “– Note 37.3: Financing Liabilities”) and entered into on a non-recourse basis ( i.e. in a default event, the creditor would only have recourse to the aircraft collateral).

31 December

2020

2019

(In € million)

Loans

7

24

0

0

Liabilities to financial institutions

Total sales financing liabilities

7

24

Customer Financing Cash Flows Direct customer financing cash flows amount to €124 million in 2020 (2019: €58 million). Customer Financing Exposure The on-balance sheet assets relating to sales financing, the off-balance sheet commitments and the related financing exposure (not including asset value guarantees) as of 31 December 2020 and 2019 are as follows:

31 December 2020

31 December 2019

Airbus Helicopters

Airbus Helicopters

Airbus

Total

Airbus

Total

(In € million)

Operating leases (1)

30

13

43

154

0

154

365

31

396

471

39

510

Finance leases and loans

10

0

10

8

0

8

Inventories

10

0

10

4

0

4

Other investments

415

44

459

637

39

676

On-balance sheet customer financing

12

2

14

95

9

104

Off-balance sheet customer financing

Gross Customer Financing Exposure

427

46

473

732

48

780

Collateral values

(241)

(38)

(279)

(530)

(30)

(560)

186

8

194

202

18

220

Net exposure

(22)

0

(22)

(65)

(7)

(72)

Operating leases

(151)

(8)

(159)

(126)

(11)

(137)

Finance leases and loans

(6)

0

(6)

(6)

0

(6)

On-balance sheet commitments – inventories

(7)

0

(7)

(5)

0

(5)

Off-balance sheet commitments – provisions (2)

Asset impairments, fair value adjustments and provisions

(186)

(8)

(194)

(202)

(18)

(220)

(1) For 2020 and 2019, depreciation amounts to €8 million and €9 million respectively and related accumulated depreciation is €21 million and €44 million respectively. (2) See “– Note 25: Provisions, Contingent Assets and Contingent Liabilities”.

46

Airbus / Financial Statements 2020