Financial Statements 2021
2. Notes to the IFRS Consolidated Financial Statements / 2.7 Capital Structure and Financial Instruments
37.5 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 2021 and 31 December 2020:
31 December
2021
2020
Hedge reserve
(In € million)
Opening balance
(262)
2,521
Foreign exchange contracts
5,279
(3,161)
12
(111)
Others
5,291
(3,272)
Changes in fair values
Foreign exchange contracts
(64)
(484)
(3)
6
Others
(67)
(478)
Amount reclassified to profit or loss (matured hedges)
(106)
55
Foreign exchange contracts
1
(4)
Others
(105)
51
Amount classified to profit or loss (inefficiency)
(1,409)
916
Tax impact
Closing balance
3,448
(262)
The following table presents the amounts relating to items designated as hedging instruments and hedge ineffectiveness for cash-flow hedges as of 31 December 2021:
Carrying values
OCI
Hedge inefficiency recorded in financial result
Amounts reclassified from hedge reserve to profit or loss
Changes in values of the hedging instrument
Other changes in value of the hedge reserve
Asset
Liability
(In € million)
Foreign currency risk Net forward sales contracts
637 (4,092)
5,349
(72)
(106)
(64)
Foreign exchange options
0
0
0
2
0
0
Embedded Derivatives
0
(40)
30
0
0
(3)
Interest rate risk
0
(1)
0
0
0
0
Commodity swap risk
7
(3)
(12)
0
1
0
Equity swap risk
3
(5)
(6)
0
0
0
Total
647 (4,141)
5,361
(70)
(105)
(67)
The following table presents the amounts relating to items designated as hedging instruments and hedge ineffectiveness for cash-flow hedges as of 31 December 2020:
Carrying values
OCI
Hedge inefficiency recorded in financial result
Amounts reclassified from hedge reserve to profit or loss
Changes in values of the hedging instrument
Other changes in value of the hedge reserve
Asset
Liability
(In € million)
Foreign currency risk Net forward sales contracts
3,840 (2,530)
(6,087)
2,934
55
(483)
Foreign exchange options
11
(14)
1
(9)
0
(1)
Embedded Derivatives
5
0
(115)
0
0
0
Interest rate risk
0
(1)
(2)
0
0
0
Commodity swap risk
14
(27)
6
0
(4)
6
Equity swap risk
0
(16)
0
0
0
0
Total
3,870 (2,588)
(6,197)
2,925
51
(478)
74
Airbus / Financial Statements 2021
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