2020 Financial Statements

4. Notes to the IFRS Company Financial Statements / The majority of the Company’s securities consists of debt securities and are classi f ied at fair value through OCI (see “– Note 38.2: Carrying Amounts and Fair Values of Financial Instruments” of the Consolidated Financial Statements). Included in the securities portfolio as of 31 December 2020 and 2019, respectively, are corporate and government bonds bearing either fixed rate coupons (€6,357 million nominal value; 2019: €12,586 million) or floating rate coupons (€50 million nominal value; 2019: €121 million). When the Company enters into securities lending or other financing activities that involve the pledging of securities as collateral, the securities pledged continue to be recognised on the balance sheet. As of 31 December 2020, securities for an amount of €99 million were pledged as collateral for borrowings from banks (2019: €145 million). 15. Cash, Securities and Financing Liabilities 15.1 Net Cash (In € million) 31 December 2020 2019 Cash and cash equivalents 10,671 8,129 Current securities 1,592 2,255 Non-current securitries 5,021 10,811 Gross cash position 17,284 21,195 Short-term financing liabilities (1,156) 0 Long-term financing liabilities (11,356) (6,580) Total 4,772 14,615 The net cash position on 31 December 2020 amounted to €4,772 (2019: €14,615 million), with a gross cash position of €17,284 million (2019: €21,195 million). 15.2 Cash and Cash Equivalents Cash and cash equivalents are composed of the following elements: (In € million) 31 December 2020 2019 Bank accounts and petty cash 405 463 Short-term securities (at fair value through profit or loss) 9,654 7,014 Short-term securities (at fair value through OCI) 512 652 Short-term investment (at amortised cost) 100 0 Total cash and cash equivalents 10,671 8,129 Only securities with a maturity of three months or less from the date of the acquisition, that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value are recognised in cash equivalents. 15.3 Securities (In € million) 31 December 2020 2019 Current securities at fair value through OCI 1,592 2,255 Non-current securities at fair value through OCI 5,021 10,811 Total securities 6,613 13,066 104 Airbus / Financial Statements 2020