Airbus - Financial Statements 2022

2. Notes to the IFRS Consolidated Financial Statements Capital Structure and Financial Instruments

38.3 Potential Effect of Set ‑ Off Rights on Recognised Financial Assets and Liabilities

The Company reports all its financial assets and financial liabilities on a gross basis. With each derivative counterparty there are master netting agreements in place providing for the immediate close ‑ out of all outstanding derivative transactions and payment of the net termination amount in the event a party to the agreement defaults or another defined termination event occurs. Furthermore, securities lending transactions are accounted for as collateralised borrowings. As a result, the securities pledged as collateral continue to be recognised on

the balance sheet and the amount of cash received at the outset of the transaction is separately recognised as a financial liability. The following tables set out, on a counterparty specific basis, the potential effect of master netting agreements and collateralised borrowings on the Company’s Financial Position, separately for financial assets and financial liabilities that were subject to such agreements as of 31 December 2022 and 2021, respectively:

Related amounts not set off in Statement of Financial Position

Gross amounts recognised set off in the Financial Statements

Net amounts presented in the Financial Statements

Gross amounts recognised

Cash collateral received

Financial instruments

Net amount

(In € million)

31 December 2022

Financial asset

1,821

0

1,821

(1,820)

0

1

Financial liabilities

9,449

0

9,449

(1,820)

0

7,629

31 December 2021

Financial asset

802

0

802

(788)

0

14

Financial liabilities

4,156

0

4,156

(788)

0

3,368

38.4 Notional Amounts of Derivative Financial Instruments

The contract or notional amounts of derivative financial instruments shown below do not necessarily represent amounts exchanged by the parties and thus are not necessarily a measure for the exposure of the Company through its use of derivatives. The notional amounts of foreign exchange derivative financial instruments are as follows, specified by year of expected maturity:

Remaining period

1 year

2 years 3 years 4 years 5 years > 5 years

Total

(In € million)

31 December 2022

Net forward and swap contracts

20,076 18,636 12,128

8,100

7,284

1,201

67,425

31 December 2021

Net forward sales contracts

21,225 17,923 17,102 10,899

8,161

7,233

82,543

83