Airbus - Financial Statements 2022
2. Notes to the IFRS Consolidated Financial Statements Capital Structure and Financial Instruments
The development of financial instruments of Level 3 is as follows:
Written put options on NCI interests
Commodity swap agreements
Customer financing
Derivatives Participations
Total
Total
(In € million)
Balance at 1 January 2021
0
465
237
702
0
(12)
(12)
Business combination
0
0
0
0
0
0
0
Profit or loss
0
0
(119)
(119)
0
(95)
(95)
Equity
0
238
0
238
(16)
0
(16)
Settlements
0
0
0
0
0
29
29
Release
0
0
0
0
0
0
0
Balance at 31 December 2021
0
703
118
821
(16)
(78)
(94)
Business combination
0
0
0
0
0
0
0
Profit or loss
0
0
(32)
(32)
0
(98)
(98)
Equity
0
41
0
41
(67)
0
(67)
Settlements
0
0
0
0
0
92
92
Others
0
0
0
0
0
0
0
Balance at 31 December 2022
0
744
86
830
(83)
(84)
(167)
As at 31 December 2022, the fair value of the written put options on non ‑ controlling interests (“NCI puts”) relating to ACLP amounts to €83 million (2021: €16 million) and includes a funding of ACLP by IQ in 2022.
The fair value of these NCI puts is derived from a discounted cash flow analysis using the latest operating plan and a projection over the lifetime of the A220 programme. In addition, a post ‑ tax WACC of 9.74% is used to discount the forecasted cash flows, taking into account the specificities of the programme (2021: 9.58%).
Financial Assets Designated at Fair Value through Profit or Loss The following types of financial assets held at 31 December 2022 and 2021, respectively, are designated at fair value through profit or loss:
Nominal amount at initial recognition at 31 December 2022
Fair value at 31 December 2022
Nominal amount at initial recognition at 31 December 2021
Fair value at 31 December 2021
(In € million)
Designated at fair value through profit or loss at recognition:
Money market funds
11,135
11,135
12,075
12,075
Foreign currency funds of fixed income funds
0
0
2
2
Total
11,135
11,135
12,077
12,077
The Company manages these assets and measures their performance on a fair value basis.
81
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