Financial Statements 2021

2. Notes to the IFRS Consolidated Financial Statements / 2.4 Airbus Performance

16. Total Financial Result

Interest income derived from the Company’s asset management and lending activities is recognised as interest accrues, using the effective interest rate method.

2021

2020

(In € million)

Interests on European governments’ refundable advances

(112)

(108)

(134)

(163)

Others

Total interest result (1)

(246)

(271)

Change in fair value measurement of financial instruments

(370)

111

53

(28)

Foreign exchange translations on monetary items

(19)

(25)

Unwinding of discounted provisions

267

(407)

Others

Total other financial result

(69)

(349)

(315)

(620)

Total

(1) In 2021, the total interest income amounts to €88 million (2020: €140 million) for financial assets which are not measured at fair value through profit or loss. For financial liabilities which are not measured at fair value through profit or loss € -334 million (2020: € -411 million) are recognised as total interest expenses. Both amounts are calculated by using the effective interest method.

Total financial result improved by €+305 million to €-315 million compared to €-620million in 2020. This is driven by the revaluation of certain equity investments (see “– Note 21: Other Investments and Other Long-Term Financial Assets”), compensated by a

negative impact from revaluation of financial instruments. In addition, in 2020 it included the remeasurement on the A350 Repayable Launch Investment (“RLI”) (see “– Note 25: Other Financial Assets and Other Financial Liabilities”).

17. Income Taxes

The expense for income taxes is comprised of the following:

2021

2020

(In € million)

2

Current tax expense

(348)

227

(505)

(266)

Deferred tax expense

Total

(853)

(39)

Main income tax rates and main changes impacting the Company:

2021

2022

> 2022

(Rate in %)

Netherlands (1)

25.00

25.80

25.80

28.41

25.83

25.83

France (2)

Germany

30.00

30.00

30.00

Spain

25.00

25.00

25.00

19.00

19.00

25.00

UK (3)

(1) A tax law has been enacted in 2021 increasing the rate for income taxes to 25.80% in 2022 and beyond. (2) In 2019, a tax law has been enacted changing the rate for income taxes to 28.41% in 2021 and 25.83% from 2022 and beyond. (3) A tax law has been enacted in 2021 increasing the rate for income taxes to 25.00% from April 2023 and beyond.

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Airbus / Financial Statements 2021