Financial Statements 2023
4. Notes to the IFRS Company Financial Statements 4.5 Capital Structure and Financial Instruments
The following table presents the carrying amounts of the financial instruments held at fair value across the three levels of the fair value hierarchy as of 31 December 2023 and 2022, respectively:
2023
2022
Level 1 Level 2
Total
(In € million)
Level 1
Level 2
Total
Financial assets measured at fair value
Equity instruments
1,609
0
1,609
1,446
0
1,446
Derivative instruments
0
4,310
4,310
0
7,829
7,829
Securities
8,148
0
8,148
7,354
0
7,354
Cash equivalents
12,410
1,010
13,420
11,135
1,001
12,136
Total
22,167
5,320
27,487
19,935
8,830
28,765
Financial liabilities measured at fair value
0
0
0
0
0
0
Derivative instruments
0
5,292
5,292
0
9,255
9,255
Total
0
5,292
5,292
0
9,255
9,255
Financial Assets Designated at Fair Value through Profit or Loss The following types of financial assets held at 31 December 2023 and 2022, respectively, are designated at fair value through profit or loss:
Nominal amount at initial recognition at
31 December 2023
(In € million)
31 December 2022
Designated at fair value through profit or loss at recognition:
Money market funds (accumulating)
12,410
11,135
Total
12,410
11,135
The Company manages these assets and measures their performance on a fair value basis.
16.3 Potential Effect of Set ‑ Off Rights on Recognised Financial Assets and Liabilities The Company reports all its financial assets and financial liabilities on a gross basis. With each derivative counterparty there are master netting agreements in place providing for the immediate close ‑ out of all outstanding derivative transactions and payment of the net termination amount in the event a party to the agreement defaults or another defined termination event occurs. The following tables set out, on a counterparty specific basis, the potential effect of master netting agreements on the Company’s financial position, separately for financial assets and financial liabilities that were subject to such agreements as of 31 December 2023 and 31 December 2022, respectively:
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Airbus
Financial Statements 2023
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