Financial Statements 2010 - Airbus EADS N.V. CoNSoliDAtED FiNANCiAl StAtEmENtS (iFRS) EADS N.V....

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Transcript of Financial Statements 2010 - Airbus EADS N.V. CoNSoliDAtED FiNANCiAl StAtEmENtS (iFRS) EADS N.V....

  • Financial Statements 2010

  • Financial Statements 2010

  • 2 I EADS FINANCIAL STATEMENTS 20102 I EADS FINANCIAL STATEMENTS 2010

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    http://www.eads.com/eads/int/en.html

  • EADS FINANCIAL STATEMENTS 2010 I 3

    EADS N.V. Consolidated Financial Statements (IFRS) 5

    Notes to the Consolidated Financial Statements (IFRS) 13

    Auditors’ report on the Consolidated Financial Statements (IFRS) 103

    Company Financial Statements 107

    Notes to the Company Financial Statements 111

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    Financial Statements 2010

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  • 1 4 I EADS FINANCIAL STATEMENTS 2010

    Back to Contents54321 QQ

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  • EADS FINANCIAL STATEMENTS 2010 I 5

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    EADS N.V. Consolidated Income Statements (IFRS) for the years ended 31 December 2010, 2009 and 2008 6

    EADS N.V. Consolidated Statements of Comprehensive Income (IFRS) for the years ended 31 December 2010, 2009 and 2008 7

    EADS N.V. Consolidated Statements of Financial Position (IFRS) at 31 December 2010 and 2009 8

    EADS N.V. Consolidated Statements of Cash Flows (IFRS) for the years ended 31 December 2010, 2009 and 2008 9

    EADS N.V. Consolidated Statements of Changes in Equity (IFRS) for the years ended 31 December 2010, 2009 and 2008 10

    EADS N.V. Consolidated Financial Statements (IFRS)

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  • 6 I EADS FINANCIAL STATEMENTS 2010

    EADS N.V. CoNSoliDAtED FiNANCiAl StAtEmENtS (iFRS)1

    EADS N.V. Consolidated Income Statements (IFRS) for the years ended 31 December 2010, 2009 and 2008

    (In € million) Note 2010 2009 2008

    Revenues 6, 7 45,752 42,822 43,265

    Cost of sales 8 (39,528) (38,383) (35,907)

    Gross margin 6,224 4,439 7,358

    Selling expenses (1,024) (924) (933)

    Administrative expenses (1,288) (1,272) (1,253)

    Research and development expenses 9 (2,939) (2,825) (2,669)

    Other income 10 171 170 189

    Other expenses (102) (102) (131) Share of profit from associates accounted for under the equity method 11 127 115 188

    Other income from investments 11 18 19 23

    Profit (loss) before finance costs and income taxes 6 1,187 (380) 2,772

    Interest income 316 356 617

    Interest expense (415) (503) (581)

    Other financial result (272) (445) (508)

    Total finance costs 12 (371) (592) (472)

    Income taxes 13 (244) 220 (703)

    Profit (loss) for the period 572 (752) 1,597

    Attributable to:

    Equity owners of the parent (Net income (loss)) 553 (763) 1,572

    Non-controlling interests 19 11 25

    Earnings per share € € €

    Basic 38 0.68 (0.94) 1.95

    Diluted 38 0.68 (0.94) 1.95

    The accompanying notes are an integral part of these Consolidated Financial Statements (IFRS).

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  • EADS FINANCIAL STATEMENTS 2010 I 7

    EADS N.V. CoNSoliDAtED FiNANCiAl StAtEmENtS (iFRS) 1

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    EADS N.V. Consolidated Statements of Comprehensive Income (IFRS) for the years ended 31 December 2010, 2009 and 2008

    (In € million) 2010 2009 2008

    Profit (loss) for the period 572 (752) 1,597

    Currency translation adjustments for foreign operations 119 (279) 428

    Effective portion of changes in fair value of cash flow hedges (2,983) 2,948 (2,971)

    Net change in fair value of cash flow hedges transferred to profit or loss (201) (1,456) (2,456)

    Net change in fair value of available-for-sale financial assets 12 136 (6) Net change in fair value of available-for-sale financial assets transferred to profit or loss 0 0 (6)

    Actuarial gains (losses) on defined benefit plans (127) (594) (346) Unrealized gains (losses) from investments accounted for using the equity method (1) (161) 33 1

    Tax on income and expense recognized directly in equity 1,096 (381) 1,722

    other comprehensive income, net of tax (2,245) 407 (3,634)

    total comprehensive income of the period (1,673) (345) (2,037)

    Attributable to:

    Equity owners of the parent (1,679) (354) (2,056)

    Non-controlling interests 6 9 19

    (1) Other comprehensive income recognised for investments accounted for using the equity method are presented separately. Comparative information has been adjusted accordingly.

    The accompanying notes are an integral part of these Consolidated Financial Statements (IFRS).

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  • 8 I EADS FINANCIAL STATEMENTS 2010

    EADS N.V. CoNSoliDAtED FiNANCiAl StAtEmENtS (iFRS)1

    EADS N.V. Consolidated Statements of Financial Position (IFRS) at 31 December 2010 and 2009

    (In € million) Assets Note 2010 2009

    Non-current assets Intangible assets 14 11,299 11,060 Property, plant and equipment 15 13,427 12,508 Investment property 16 77 78 Investments in associates accounted for under the equity method 17 2,451 2,514 Other investments and other long-term financial assets 17 2,386 2,210 Non-current other financial assets 20 871 1,607 Non-current other assets 21 1,104 1,176 Deferred tax assets 13 4,250 2,656 Non-current securities 22 5,332 3,983

    41,197 37,792 Current assets Inventories 18 20,862 21,577 Trade receivables 19 6,632 5,587 Current portion of other long-term financial assets 17 111 230 Current other financial assets 20 1,575 2,043 Current other assets 21 1,712 1,698 Current tax assets 234 267 Current securities 22 5,834 4,072 Cash and cash equivalents 31 5,030 7,038

    41,990 42,512 total assets 83,187 80,304

    Equity and liabilities Equity attributable to equity owners of the parent Capital stock 816 816 Share premium 7,645 7,683 Retained earnings 46 (501) Accumulated other comprehensive income 446 2,646 Treasury shares (112) (109) 8,841 10,535 Non-controlling interests 95 106 total equity 23 8,936 10,641 Non-current liabilities Non-current provisions 25 8,213 8,137 Long-term financing liabilities 26 2,870 2,867 Non-current other financial liabilities 27 8,624 6,175 Non-current other liabilities 28 9,264 9,091 Deferred tax liabilities 13 1,195 751 Non-current deferred income 30 315 266

    30,481 27,287 Current liabilities Current provisions 25 5,766 5,883 Short-term financing liabilities 26 1,408 2,429 Trade liabilities 29 8,546 8,217 Current other financial liabilities 27 1,234 1,200 Current other liabilities 28 25,772 23,547 Current tax liabilities 254 220 Current deferred income 30 790 880

    43,770 42,376 total liabilities 74,251 69,663 total equity and liabilities 83,187 80,304

    The accompanying notes are an integral part of these Consolidated Financial Statements (IFRS).

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  • EADS FINANCIAL STATEMENTS 2010 I 9

    EADS N.V. CoNSoliDAtED FiNANCiAl StAtEmENtS (iFRS) 1

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    EADS N.V. Consolidated Statements of Cash Flows (IFRS) for the years ended 31 December 2010, 2009 and 2008

    (In € million) Note 2010 2009 2008

    Profit (loss) for the period attributable to equity owners of the parent (Net income (loss)) 553 (763) 1,572 Profit for the period attributable to non-controlling interests 19 11 25 Adjustments to reconcile profit (loss) for the period to cash provided by operating activities:

    Interest income (316) (356) (617) Interest expense 415 503 581 Interest received 332 382 657 Interest paid (278) (331) (471) Income tax expense (income) 244 (220) 703 Income taxes (paid) received (140) 4 (252) Depreciation and amortization 1,582 1,826 1,667 Valuation adjustments (366) (254) 924 Results on disposals of non-current assets (75) (31) (31) Results of companies accounted for by the equity method (127) (115) (188) Change in current and non-current provisions 334 1,767 1

    Change in other operating assets and liabilities: 2,819 15 (172) u Inventories 705 (1,961) (1,210) u Trade receivables (345) (478) (845) u Trade liabilities (40) 192 757 u Advance payments received 1,698 2,925 2,435 u Other assets and liabilities 738 (257) (982) u Customer financing assets 169 (306) (208) u Customer financing liabilities (106) (100) (119)

    Cash provided by operating activities 4,996 2,438 4,399

    investments: u Purchases of intangible assets, Property, plant and equipment (2,250) (1,957) (1,837) u Proceeds from disposals of intangible assets, Property, plant and equipment 45 75 35 u Acquisitions of subsidiaries, joint ventures, businesses and non-controlling interests (net of cash) 31 (38) (21) (265) u Proceeds from disposals of subsidiaries (net of cash) 31 12 13 2 u Payments for investments in associates, other investments and other long-term financial assets (190) (136) (122) u Proceeds from disposals of associates, other investments and other long-term financial assets 91 43 180 u Dividends paid by companies valued at equity 41 27 50

    Disposals of non-current assets / disposal groups classified as held for sale and liabilities directly associated with non-current assets classified as held for sale 0 103 117 Change of securities 22 (3,147) (821) (2,676) Contribution to plan assets for pensions (553) (173) (436) Cash (used for) investing activities (5,989) (2,847) (4,952) Increase in financing liabilities 99 1,114 471 Repayment of