Financial Statements 2023

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

26.

Other Assets and Other Liabilities

Other Assets

31 December

2023

(In € million)

2022

Cost to fulfil a contract

468

337

Prepaid expenses

129

149

(1)

Others

1,257

1,386

Total non ‑ current other assets

1,854

1,872

Value added tax claims

1,600

1,732

Cost to fulfil a contract

460

448

Prepaid expenses

174

161

(1)

Others

463

509

Total current other assets

2,697

2,850

Total

4,551

4,722

As of 31 December 2023, other assets include €874 million of payments to be made to Airbus by suppliers after aircraft delivery (2022: €673 million). They are recorded as a reduction of cost of goods sold at the time of aircraft delivery. These future payments are discounted to reflect specific contractual terms and repayment profile. (1) As of 31 December 2023, a non ‑ current asset of €373 million (2022: €642 million) is accounted for to reflect the surplus in two pension funds in the UK. The change of €-269 million is mainly explained by actuarial losses on pension obligations from financial assumptions of €-204 million and from experience adjustments of €-75 million as well as the actuarial losses related to the performance of assets of €-124 million. It is partly offset by the contributions to plan assets of €163 million. (see “– Note 24: Provisions, Contingent Assets and Contingent Liabilities”).

Other Liabilities

31 December

2023

(In € million)

2022

(1)

Others

450

498

Total non ‑ current other liabilities

450

498

Tax liabilities (excluding income tax)

740

1,082

(1)

Others

2,767

2,721

Total current other liabilities

3,507

3,803

Total

3,957

4,301

“Others” mainly comprises tax (excluding income tax) and personnel liabilities ( e.g. Salaries, Social insurance contribution, Liabilities from personnel restructuring). (1)

48

Airbus

Financial Statements 2023