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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