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