Financial Statements 2021
2. Notes to the IFRS Consolidated Financial Statements / 2.5 Operational Assets and Liabilities
the Consolidated Income Statement when the receivables are derecognised, impaired or amortised. Impairment and allowances of trade receivables and contract assets are measured at an amount equal to the life-time expected loss as described in “– Note 37: Financial Instruments”.
Trade receivables arise when the Company provides goods or services directly to a customer with no intention of trading the receivable. Trade receivables include claims arising from revenue recognition that are not yet settled by the debtor. Trade receivables are initially recognised at their transaction prices and are subsequently measured at amortised cost less any allowances for impairment. Gains and losses are recognised in
Contract Assets, Contract Liabilities and Trade Receivables Significant changes in contract assets and contract liabilities during the period are as follows:
2021
2020
Contract assets
Contract liabilities
Contract assets
Contract liabilities
(In € million)
Revenue recognised that was included in the contract liability balance at 1 January Increases due to cash received, excluding amounts recognised as revenue (1) Transfers from contract assets recognised at 1 January Increase as a result of changes in the measure of progress
-
(19,311)
-
(20,327)
-
17,792
-
20,915
(5,765)
- -
(4,353)
- -
6,045
4,188
(1) Including final payments received from customers and others parties in anticipation.
As of 31 December 2021, trade receivables amounting to €210 million (2020: €189 million) will mature after more than one year. The respective movement in the allowance for doubtful accounts in respect of trade receivables and contract assets during the period was as follows:
2021
2020
(In € million)
Allowance balance at 1 January
(306)
(397)
47
162
Utilisations / disposals and business combinations
Additions
(104)
(71)
Allowance balance at 31 December
(363)
(306)
2
Trade Liabilities Trade liabilities of €9,693 million (2020: €8,722 million) increased by €+971 million, mainly in Airbus. As of 31 December 2021, trade liabilities amounting to €89 million (2020: €67 million) will mature after more than one year.
23. Inventories
31 December 2021
31 December 2020
Gross amount
Write- down
Net book value
Gross amount
Write- down
Net book value
(In € million)
Raw materials and manufacturing supplies
3,773
(705)
3,068
3,934
(606)
3,328
19,553
(2,010)
17,542
21,225
(2,495)
18,730
Work in progress
5,356
(800)
4,556
5,919
(691)
5,228
Finished goods and parts for resale
3,491
(119)
3,372
3,173
(58)
3,115
Advance payments to suppliers
Total
32,173
(3,634)
28,538
34,251
(3,850)
30,401
39
Airbus / Financial Statements 2021
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