Airbus - Financial Statements 2022

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

38.5 Derivative Financial Instruments and Hedge Accounting Disclosure

The following table presents the reconciliation of AOCI , net of tax, resulting from cash flow hedge accounting as of 31 December 2022 and 31 December 2021:

31 December

2022

2021

Hedge reserve

(In € million)

Opening balance

3,448

(262)

Foreign exchange contracts

5,575

5,279

Others

34

12

Changes in fair values

5,609

5,291

Foreign exchange contracts

(2,358)

(64)

Others

(7)

(3)

Amount reclassified to profit or loss (matured hedges)

(2,365)

(67)

Foreign exchange contracts

(146)

(106)

Others

(1)

1

Amount classified to profit or loss (inefficiency)

(147)

(105)

Tax impact

(857)

(1,409)

Closing balance

5,688

3,448

The following table presents the amounts relating to items designated as hedging instruments and hedge ineffectiveness for cash flow hedges as of 31 December 2022:

Carrying values

OCI

Changes in values of the hedging instrument

Hedge inefficiency recorded in financial result

Amounts reclassified from hedge reserve to profit or loss

Other changes in value of the hedge reserve

Asset

Liability

(In € million)

Foreign currency risk

Net forward sales contracts

1,492

(7,643)

4,429

1,146

(146)

(2,358)

Foreign exchange options

0

0

0

0

0

0

Embedded Derivatives

0

(60)

36

0

0

(7)

Interest rate risk

0

0

0

0

0

0

Commodity swap risk

6

0

(2)

0

(1)

0

Equity swap risk

1

(4)

0

0

0

0

Total

1,499

(7,707)

4,463

1,146

(147)

(2,365)

85

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