Financial Statements 2021

2. Notes to the IFRS Consolidated Financial Statements / 2.7 Capital Structure and Financial Instruments

Liquidity Risk The Company’s policy is to maintain suf ficient cash and cash equivalents at any time to meet its present and future commitments as they fall due. It manages its liquidity by holding adequate volumes of liquid assets and maintains a committed revolving credit facility (€6.0 billion as of 31 December 2021), the maturity of which has been extended to 21 October 2024, in addition to the cash inflow generated by its operating business. The Company continues to keep within its asset portfolio the focus on low counterparty risk. In addition, it maintains a set of other funding sources, and accordingly may issue bonds,

notes and commercial papers or enter into security lending agreements. Adverse changes in the capital markets could increase its funding costs and limit its financial flexibility. Further, the management of the vast majority of the Company’s liquidity exposure is centralised by a daily cash concentration process. This process enables it to manage its liquidity surplus as well as its liquidity requirements according to the actual needs of its subsidiaries. In addition, management monitors the Company’s liquidity reserve as well as the expected cash flows from its operations.

The contractual maturities of the Company’s financial liabilities, based on undiscounted cash flows and including interest payments, if applicable, are as follows:

Carrying amount

Contractual cash flows < 1 year

1 year- 2 years

2 years- 3 years

3 years- 4 years

4 years- 5 years > 5 years

(In € million)

31 December 2021 Non-derivative financial liabilities

(25,387)

(27,962)

(12,072)

(1,000)

(1,539)

(1,095)

(2,381)

(9,875)

Derivative financial liabilities

(4,563)

(6,193)

(1,887)

(1,661)

(1,245)

(728)

(440)

(232)

Total

(29,950)

(34,155) (13,959)

(2,661)

(2,784)

(1,823)

(2,821) (10,107)

31 December 2020 Non-derivative financial liabilities

(26,514)

(29,007)

(12,298)

(774)

(1,616)

(1,465)

(1,088)

(11,766)

Derivative financial liabilities

(2,817)

(2,420)

(955)

(712)

(659)

(79)

(11)

(4)

Total

(29,331)

(31,427) (13,253)

(1,486)

(2,275)

(1,544)

(1,099) (11,770)

Non-derivative financial liabilities included in the table above comprise financing liabilities as presented in “– Note 37.2: Carrying Amounts and Fair Values of Financial Instruments”. Due to their specific nature, namely their risk-sharing features and uncertainty about the repayment dates, the European governments’ refundable advances, which amount to € -3,861 million at 31 December 2021 (€ -3,912 million at 31 December 2020) are not included.

Lease liabilities The maturity analysis of lease liabilities, based on contractual undiscounted cash flows is as follows:

31 December

2021

2020

(In € million)

Not later than one year

(245)

(260)

Later than one year and not later than five years

(758)

(925)

Later than five years

(1,043)

(1,004)

Total undiscounted lease liabilities

(2,046)

(2,189)

Lease liabilities included in the statement of Financial Position

(1,736)

(1,798)

Current

(245)

(260)

Non-current

(1,491)

(1,538)

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Airbus / Financial Statements 2021