Airbus - Financial Statements 2022

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

The Company applies the low credit risk exemption allowing the Company to assume that there is no significant increase in credit risk since initial recognition of a financial instrument, if the instrument is determined to have low credit risk at the reporting date. Similarly, the Company has determined that its trade receivables and contract assets generally have low credit risk. The Company applies the simplified approach permitted by IFRS 9 of measuring expected credit losses of trade receivables and contract assets on a lifetime basis from initial recognition.

Investment grade instruments — The Company considers a significant increase in credit risk to have occurred, if there is a downgrade by four notches such that the instrument moves into a high yield bucket as a direct result of the downgrade. With respect to instruments that were high yield at initial recognition, a downgrade by four notches is considered as a significant increase in credit risk.

Stage 1 12 ‑ month ECL

Stage 2 Life ‑ time ECL

Stage 3 Credit impaired ECL

Total

(In € million)

At 1 January 2022

12.08

20.74

18.77

51.59

Change in financial assets

3.82

(5.44)

(1.47)

(3.09)

Change in risk parameters

1.32

(6.95)

9.41

3.78

At 31 December 2022

17.22

8.35

26.71

52.28

Stage 1 12 ‑ month ECL

Stage 2 Life ‑ time ECL

Stage 3 Credit impaired ECL

Total

(In € million)

At 1 January 2021

8.09

18.26

23.42

49.77

Change in financial assets

1.91

(2.17)

(1.77)

(2.03)

Change in risk parameters

2.08

4.65

(2.88)

3.85

At 31 December 2021

12.08

20.74

18.77

51.59

The following table breaks down the gross carrying amount of loans and receivables as of 31 December 2022 and 2021, separately showing those that are impaired, renegotiated or past due:

Past due > 3 and ≤ 6 months

Past due > 6 and ≤ 9 months

Past due > 9 and ≤ 12 months

Renegotiated / not past due / not impaired

Past due ≤ 3 months

Past due > 12 months Impairment

Not past due

Gross impaired

Total

(In € million)

31 December 2022

Trade receivables

3,727

0

376

373

147

132

99

479

(380)

4,953

Contract assets

1,528

0

0

0

0

0

0

0

(1)

1,527

Others

2,552

2

93

131

391

116

7

452

(188)

3,556

Total

7,807

2

469

504

538

248

106

931

(569)

10,036

87

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