Airbus - Financial Statements 2022
2. Notes to the IFRS Consolidated Financial Statements Employees Costs and Benefits
Provisions by countries
The amount recorded as provision for retirement and deferred compensation plans can be allocated to the countries as follows:
Participation in BAE Systems Pension Scheme in the UK
Pension plans of the Company
Germany
France
UK Canada
Total
(In € million)
DBO
10,157
1,243
1,100
436
2,768
15,704
Plan assets
7,957
19
1,356
351
3,154
12,837
Recognised at 31 December 2022
2,200
1,224
(256)
85
(386)
2,867
DBO
13,330
1,941
1,858
570
4,598
22,297
Plan assets
9,063
21
1,858
411
3,872
15,225
Recognised at 31 December 2021
4,267
1,920
0
159
726
7,072
Contributions to defined contribution plans
Employer’s contribution to state and private pension plans, mainly in Germany and France, are to be considered as defined contribution plans. Contributions in 2022 amounted to €894 million (2021: €859 million).
33. Share ‑ based Payment Share ‑ based compensation — Since 2016, the Company operates a Performance Units and Performance Shares Plan . Performance Units qualify as a cash ‑ settled share based payment plan under IFRS 2 and Performance Shares qualify as an equity ‑ settled share ‑ based payment plan under IFRS 2 . Since 2021, the Company operates only a Performance Shares Plan. Plans granting Restricted Units, Performance Units and/or Performance Shares are also mentioned as “LTIP” in the following notes. Since 2018, the Company operates also exceptional grants of Performance and Restricted Units as well as Performance and Restricted Shares under an Equity Pool. Such exceptional grants are validated by specific resolutions from the Board of Directors and qualify as cash ‑ settled or equity ‑ settled share ‑ based payment plans under IFRS 2. Accounting principles and methodology are the ones applied for LTIP as described below. For cash ‑ settled plans, provisions for associated services received are measured at fair value by multiplying the number of units expected to vest with the fair value of one LTIP unit at the end of each reporting period, taking into account the extent to which the employees have rendered service to date.
Changes of the fair value are recognised as personnel expenses of the period, leading to a re ‑ measurement of the provision. The fair value of Performance Units is re ‑ measured at each closing date as far as they are not paid. For equity ‑ settled plans, compensation expense is measured at the grant date at the fair value by multiplying the number of shares expected to vest by the fair value of one LTIP share taking into account the extent to which the employees have rendered service to date. The compensation expense is accounting for over the vesting period of each LTIP equity ‑ settled plans. The fair value of each LTIP share (equity or cash ‑ settled plans) is determined using a forward pricing model and is based on publicly available risk free rate, volatility and dividend rate. Besides the equity ‑ settled plans described above, the Employee Share Ownership Plan (“ESOP”) is an additional equity ‑ settled share ‑ based payment plan. Under this plan, the Company offers its employees Airbus SE shares at fair value matched with a number of free shares based on a determining ratio. The fair value of shares provided is reflected as personnel expenses in the Company’s Consolidated Income Statement with a corresponding increase in equity.
58
Made with FlippingBook - Online Brochure Maker