2020 Financial Statements

2. Notes to the IFRS Consolidated Financial Statements / 2.4 Airbus Performance Total financial result deteriorated by € -345 mi l l ion to € -620 million compared to € -275 million in 2019. This is driven by a decrease of € -160 million in interest result and the remeasurement on the A350 Repayable Launch Investment (“RLI”) (see “– Note 26: Other Financial Assets and Other Financial Liabilities”). 17. Total Financial Result Interest income derived from the Company’s asset management and lending activities is recognised as interest accrues, using the effective interest rate method. (In € million) 2020 2019 Interests on European Governments’ refundable advances (108) (96) Others (163) (15) Total interest result (1) (271) (111) Change in fair value measurement of financial instruments 111 68 Foreign exchange translations on monetary items (28) (69) Unwinding of discounted provisions (25) (46) Others (407) (117) Total other financial result (349) (164) Total (620) (275) (1) In 2020, the total interest income amounts to €140 million (2019: €228 million) for financial assets which are not measured at fair value through profit or loss. For financial liabilities which are not measured at fair value through profit or loss € -411 million (2019: € -339 million) are recognised as total interest expenses. Both amounts are calculated by using the effective interest method. 18. Income Taxes The expense for income taxes is comprised of the following: (In € million) 2020 2019 Current tax expense 227 (2,903) Deferred tax expense (266) 514 Total (39) (2,389) Main income tax rates and main changes impacting the Company: (Rate in %) 2020 2021 > 2021 Netherlands 25.00 25.00 25.00 France 32.02 28.41 25.83 Germany 30.00 30.00 30.00 Spain 25.00 25.00 25.00 UK 19.00 19.00 19.00 30 Airbus / Financial Statements 2020