Airbus - Financial Statements 2022

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

The following table sets out the notional amount of foreign exchange hedges in place as of 31 December 2022 relating to the commercial activities of Airbus, and the average euro converted rates applicable to corresponding EBIT.

2023

2024

2025

2026

2027+

Total

(In $ million)

Total hedges

22,737

21,274

13,772

9,138

9,467

76,388

Forward rates

€/US$

1.21

1.23

1.24

1.30

1.30

1.24

In 2022 new hedge contracts of US$7.5 billion (2021: US$29.5 billion) were added at an average rate of 1.12 US$/€ (2021: 1.21 US$/€). As of 31 December 2022, the total hedge portfolio with maturities up to 2029 amounts to US$76.4 billion (2021: US$88.3 billion) and covers a major portion of the foreign exchange exposure expected over the hedging horizon. The average US$/€ hedge rate of the US$/€ hedge portfolio until 2029 amounts to 1.24 US$/€ (2021: 1.25 US$/€).

2023

2024

2025

2026

2027+

Total

(In £ million)

Total hedges

852

789

537

333

311

2,822

Forward rates

€/£

0.88

0.89

0.90

0.91

0.93

0.89

Since 2021, €/£ hedges were implemented in order to cover the GBP exposure of the Company. The notional amounts of interest rate contracts are as follows:

Remaining period

1 year

2 years 3 years 4 years 5 years 6 years 7 years > 7 years

Total

(In € million)

31 December 2022

Interest rate contracts

0

823

561

1,355

1,406

611

500

4,150

9,406

31 December 2021

Interest rate contracts

12

0

1,000

750

1,850

1,324

750

4,650

10,336

Please also refer to “– Note 37.3: Financing Liabilities”. The notional amounts of commodity contracts are as follows:

Remaining period

1 year

2 years

3 years

4 years > 4 years

Total

(In € million)

13

4

0

0

0

31 December 2022

17

31 December 2021

20

21

3

0

0

44

The notional amounts of equity swaps are as follows:

Remaining period

1 year

2 years

3 years

4 years > 4 years

Total

(In € million)

17

22

14

0

0

31 December 2022

53

31 December 2021

18

17

18

10

0

63

84