Financial Statements 2021

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

Other leases The Company also leases IT equipment, machinery and other equipment that combined are insignificant to the total leased asset portfolio.

Off-Balance Sheet Commitments Commitments related to property, plant and equipment compr ise contractual commi tments for future capi tal expenditures and contractual commitments for purchases of “Land, leasehold improvements and buildings including buildings on land owned by others” (€598 million as of 31 December 2021, 2020: €335 million).

21. Other Investments and Other Long-Term Financial Assets

31 December

2021

2020

(In € million)

Other investments

2,511

2,245

1,490

1,610

Other long-term financial assets

4,001

3,855

Total non-current other investments and other long-term financial assets

Current portion of other long-term financial assets

537

468

Total

4,538

4,323

Other investments mainly compr ise the Company’s participations and include the remaining investment in Dassault Aviation (9.90%, 2020: 9.90%) amounting to € 786 million at 31 December 2021 (2020: €742 million). InMarch 2020, OneWebCommunications filed under Chapter 11 of the US Bankruptcy Code. Consequently, the related financial assets were fully impaired, leading to a decrease in the fair value of the equity investment by € -137 million recorded through OCI and a depreciation of a loan by € -136 million recorded through financial result.

In November 2020, the US Bankruptcy Court entered an order issuing a final decree to allow a consortium of Her Majesty’s Government HMG and Bharti Global Limited to acquire the newly re-organised OneWeb. As at 31 December 2021, the Company holds a minor investment in OneWeb which is accounted for at fair value. Other long-term financial assets and the current portion of other long-term financial assets include other loans in the amount of €1,909 million as of 31 December 2021 (2020: € 1,841 million), and the sales financing activities in the form of finance lease receivables and loans from aircraft financing.

22. Contract Assets and Contract Liabilities, Trade Receivables and Trade Liabilities

Contract assets represent the Company’s right to consideration in exchange for goods or services that the Company has transferred to a customer when that right is conditioned by something other than the passage of time ( e.g. revenue recognised from the application of the PoC method before the Company has a right to invoice). Contract liabilities represent the Company’s obligation to transfer goods or services to a customer for which the Company has received consideration, or for which an amount of consideration is due from the customer ( e.g. advance payments received)

Net contract assets and contract liabilities are determined for each contract separately. For serial contracts, contract liabilities are presented in current contract liabilities, if revenues are expected within the next twelve months or material expenses for the manufacturing process have already occurred. For long- term production contracts ( e.g. governmental contracts such as A400M, Tiger, NH90), contract liabilities are classified as current when the relating inventories or receivables are expected to be recognised within the normal operating cycle of the long-term contract.

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Airbus / Financial Statements 2021