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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