Airbus 2015 Annual Report Download - page 275

AIRBUS GROUP FINANCIAL STATEMENTS 2015 l 93 l
Notestothe IFRSCompanyFinancialStatements
4.
Use of Estimates and Judgements
The preparation of the Company Financial Statements in
conformity with EU-IFRS requires the use of estimates and
assumptions. In preparing those financial statements, the
management exercises its best judgement based upon its
experience and the circumstances prevailing at that time. The
estimates and assumptions are based on available information
and conditions at the end of the financial period presented and
are reviewed on an ongoing basis. Actual results could differ
from these estimates.
Key accounting estimates and judgements affecting the
assessment and measurement of impairment are included
in Note 7 “Investments in subsidiaries, associates and
participations” of the Company Financial Statements.
3. Related Party Transactions
Key Management Personnel
The details regarding the compensation of key management
personnel are described in Note8 “Related party transactions”
of the Consolidated Financial Statements.
Intercompany Transactions
A comprehensive exchange of internal services between the
subsidiaries of a multinational corporation like AirbusGroup
SE is common practice. In its responsibility as holding
company to manage its subsidiaries and to assist the business
activities conducted by companies of the AirbusGroup and
its subsidiaries, AirbusGroup SE applies transfer prices for
its business activities in conformity with market levels and in
accordance with national and international tax requirements
(arm’s length principle).
The following table discloses the related party intercompany transactions in2015 and 2014:
(In € million)
Transactions
with subsidiaries
2015
Transactions
with associates
2015
Transactions
with subsidiaries
2014
Transactions
with associates
2014
Rendering of services, dividend
andinterest income income 560 62 754 39
Purchases of services, investment charge
and interest expenses (724) (4) (649) (4)
Intercompany receivables due as
of31December 12,400 18 12,741 18
Intercompany payables due as
of31December (32,414) (503) (29,041) (521)
Hedge relationships receivable as
of31December 10,482 04,943 0
Hedge relationships payable as
of31December (1,383) 0(542) 0
For further information about granted guarantees to subsidiaries please refer to Note9 “Commitments and contingencies” of the
Company Financial Statements.
Financial Statements 2015
11 22 33 44 55
QRegistration Document 2015
Annual Report 2015 Financial Statements 2015
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