Airbus - Financial Statements 2022

2. Notes to the IFRS Consolidated Financial Statements Employees Costs and Benefits

The past service cost included in the service cost amounts to €-400 million and €-228 million as of 31 December 2022 and 2021, respectively. The employer contributions amount to €595 million and €6 million for other plan participants as of 31 December 2022 (2021: €533 million and €6 million respectively).

Additionally, the Company considers liabilities for lump sum payments (one ‑ off payment or lump sum instalments) under the German P3 and APP pension arrangements in the total amount of €183 million and €172 million as of 31 December 2022 and 2021, respectively.

The funding of the plans is as follows:

31 December

2022

2021

DBO

Plan assets

DBO

Plan assets

(In € million)

Unfunded pension plans

873

0

1,406

0

Funded pension plans (partial)

14,831

(12,837)

20,891

(15,225)

Total

15,704

(12,837)

22,297

(15,225)

As of 31 December 2022, provisions for pensions decreased by €-3.6 billion. It mainly reflects the increase of the discount rates in Germany, France, Canada and the UK of €7.8 billion, resulting from market volatility related mainly to the Ukraine crisis. It is partly offset by deteriorated performance of the asset market values for €2.7 billion and increased inflation assumptions particularly in Germany and France for €0.5 billion. Furthermore, due to the re ‑ measurement of past service cost in the retirement obligation, a gain of €0.4 billion was recognised in the first quarter 2022. In 2022, contributions for retirement and deferred compensation plans amount to €601 million. This mainly consists of:

Contributions of approximately €700 million are expected to be made in 2023. The weighted average duration of the DBO for retirement plans and deferred compensation is 15 years at 31 December 2022 (31 December 2021: 18 years). payments made to the pension and deferred compensation plans of the Company of €342 million (2021: €667 million), mainly relating to the Contractual Trust Arrangement in Germany of €171 million (2021: €431 million), the relief fund in Germany of €99 million (2021: €0 million) and the Company UK scheme of €57 million (2021: €224 million); – payments made to the participation in BAE Systems Pension Scheme in the UK of €254 million (2021: €96 million). –

Pension obligations by countries and type of beneficiaries

The split of the DBO for retirement plans and deferred compensation between active, deferred and pensioner members for the most significant plans is as follows:

Active

Deferred

Pensioner

Germany

43%

10%

47%

France

99%

0%

1%

UK

63%

16%

21%

Participation in BAE System Pension Scheme (Main Scheme)

35%

15%

50%

Canada

82%

2%

16%

55