2020 Financial Statements

2. Notes to the IFRS Consolidated Financial Statements / 2.5 Operational Assets and Liabilities On-Balance Sheet Operating and Finance Leases The future minimum operating lease payments (undiscounted) due from customers to be included in revenue, and the future minimum lease payments (undiscounted) from investments in finance leases to be received in settlement of the outstanding receivable at 31 December 2020 are as follows: (In € million) Aircraft under operating lease Finance lease receivables Not later than one year 6 1 Later than one year and not later than five years 19 12 Later than five years 0 0 31 December 2020 25 13 Financing Liabilities Financing liabilities from sales financing transactions are mainly based on variable interest rates (see “– Note 37.3: Financing Liabilities”) and entered into on a non-recourse basis ( i.e. in a default event, the creditor would only have recourse to the aircraft collateral). (In € million) 31 December 2020 2019 Loans 7 24 Liabilities to financial institutions 0 0 Total sales financing liabilities 7 24 Customer Financing Cash Flows Direct customer financing cash flows amount to €124 million in 2020 (2019: €58 million). Customer Financing Exposure The on-balance sheet assets relating to sales financing, the off-balance sheet commitments and the related financing exposure (not including asset value guarantees) as of 31 December 2020 and 2019 are as follows: (In € million) 31 December 2020 31 December 2019 Airbus Airbus Helicopters Total Airbus Airbus Helicopters Total Operating leases (1) 30 13 43 154 0 154 Finance leases and loans 365 31 396 471 39 510 Inventories 10 0 10 8 0 8 Other investments 10 0 10 4 0 4 On-balance sheet customer financing 415 44 459 637 39 676 Off-balance sheet customer financing 12 2 14 95 9 104 Gross Customer Financing Exposure 427 46 473 732 48 780 Collateral values (241) (38) (279) (530) (30) (560) Net exposure 186 8 194 202 18 220 Operating leases (22) 0 (22) (65) (7) (72) Finance leases and loans (151) (8) (159) (126) (11) (137) On-balance sheet commitments – inventories (6) 0 (6) (6) 0 (6) Off-balance sheet commitments – provisions (2) (7) 0 (7) (5) 0 (5) Asset impairments, fair value adjustments and provisions (186) (8) (194) (202) (18) (220) (1) For 2020 and 2019, depreciation amounts to €8 million and €9 million respectively and related accumulated depreciation is €21 million and €44 million respectively. (2) See “– Note 25: Provisions, Contingent Assets and Contingent Liabilities”. 46 Airbus / Financial Statements 2020