Financial Statements 2023

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

31 December

2023

(In € million)

2022

Bonds and commercial papers

8,250

8,681

Liabilities to financial institutions

323

383

Loans

233

75

Lease liabilities

1,396

1,492

Total long ‑ term financing liabilities

10,202

10,631

Bonds and commercial papers

817

0

Liabilities to financial institutions

1

27

Loans

81

83

Lease liabilities

221

242

(1)

Others

2,269

1,790

Total short ‑ term financing liabilities

3,389

2,142

Total

13,591

12,773

Included in “others” are financing liabilities to joint ventures. (1)

Long ‑ term financing liabilities , mainly comprising of bonds and lease liabilities, decreased by €-429 million to €10,202 million (2022: €10,631 million), mainly due to bonds reclass to short ‑ term liabilities (EMTN 10 years) partly offset by the increase in the value of bonds. Short ‑ term financing liabilities increased by €+1,247 million to €3,389 million (2022: €2,142 million) mainly due to the EMTN 10 years reclass in long ‑ term financing liabilities and financing liabilities to joint ventures. The Company has several euro ‑ denominated bonds issued under its EMTN programme, two stand ‑ alone US dollar ‑ denominated bonds issued on the US institutional market under Rule 144A and one US Private Placement, outstanding as of 31 December 2023. The Company can issue commercial papers under its €11 billion Negotiable European Commercial Paper (“NEuCP”) programme, its €4 billion Euro Commercial Paper (“ECP”) programme and its $3 billion US Commercial Paper programme.

As of 31 December 2023, there were no outstanding amounts under any of its commercial paper programmes. On 31 January 2023, the Company signed a lease agreement with Mobile Airport Authority for a new Final Assembly Line in Mobile, Alabama. As the lease has not yet commenced, no lease liability was recognised as of 31 December 2023, and no lease payments were made. Accordingly, this transaction had no impact neither on the IFRS Consolidated Financial Statement of Cash Flows nor on the Consolidated Statement of Financial Position as of 31 December 2023. In accordance with IFRS 16 and the Company’s accounting policies for the classification of interests’ cash flows, payments to be made over the lease term will be recognised in financing cash flows and operating cash flows for respectively the principal and interest payments’ portions of the lease liability. According to the current project plan, the first tranche of the project is expected to enter into service in 2024 for a corresponding amount of around US$0.4 billion. The future discounted cash outflows amount to US$1 billion, are funded through bonds issued by the lessor and fully guaranteed by the Company as of 31 December 2023.

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Airbus

Financial Statements 2023