AIRBUS - 2019 Financial Statements

2.5 Operational Assets and Liabilities Notes to the IFRS Consolidated Financial Statements / 2 25. Other Financial Assets and Other Financial Liabilities Other Financial Assets (In € million) 31 December 2019 2018 Positive fair values of derivative financial instruments (1) 996 1,031 Others 37 77 Total non-current other financial assets 1,033 1,108 Receivables from related companies 1,148 1,082 Positive fair values of derivative financial instruments (1) 444 286 Others 468 443 Total current other financial assets 2,060 1,811 Total 3,093 2,919 (1) See “– Note 37: Information about Financial Instruments”. Other Financial Liabilities (In € million) 31 December 2019 2018 Liabilities for derivative financial instruments (1) 2,434 1,132 European Governments’ refundable advances (2) 3,725 4,233 Others 1,339 2,644 Total non-current other financial liabilities 7,498 8,009 Liabilities for derivative financial instruments (1) 1,560 1,623 European Governments’ refundable advances (2) 552 344 Liabilities to related companies 159 175 Others 376 320 Total current other financial liabilities 2,647 2,462 Total 10,145 10,471 thereof other financial liabilities due within 1 year 2,647 2,125 (1) See “– Note 37: Information about Financial Instruments”. (2) Refundable advances from European Governments are provided to the Company to finance research and development activities for certain projects on a risk-sharing basis, i.e. they are repaid to the European Governments subject to the success of the project. The total net fair value of derivative financial instruments deteriorated by € -1,116 million to € -2,554 million (2018: € -1,438 million) as a result of the strengthening of the US dollar versus the euro associated with the mark to market valuation of the hedge portfolio. Contingent assets and contingent liabilities —The Company is exposed to technical and commercial contingent obligations due to the nature of its businesses. To mitigate this exposure, the Company has subscribed a Global Aviation Insurance Programme (“GAP”). Information required under IAS 37 “Provisions, Contingent Assets and Contingent Liabilities” is not disclosed if the Company concludes that disclosure can be expected to prejudice seriously its position in a dispute with other parties. For other contingent liabilities, see “– Note 38: Litigation and Claims” and “– Note 11: Revenue and Gross Margin” (mainly A400M programme). Other commitments include contractual guarantees and performance bonds to certain customers as well as commitments for future capital expenditures and amounts which may be payable to commercial intermediaries if future sales materialise. 43 Airbus / Financial Statements 2019