Financial Statements 2023
2. Notes to the IFRS Consolidated Financial Statements 2.7 Capital Structure and Financial Instruments
The development of financial instruments of Level 3 is as follows:
Commodity swap agreements
Written put options on NCI interests
Customer financing
Total
(In € million)
Derivatives Participations
Total
Balance at 1 January 2022
0
703
118
821
(16)
(78)
(94)
Business combination
0
0
0
0
0
0
0
Profit or loss
0
0
(32)
(32)
0
(98)
(98)
Equity
0
41
0
41
(67)
0
(67)
Settlements
0
0
0
0
0
92
92
Release
0
0
0
0
0
0
0
Balance at 31 December 2022
0
744
86
830
(83)
(84)
(167)
Business combination
0
0
0
0
0
0
0
Profit or loss
0
0
30
30
0
84
84
Equity
0
(31)
0
(31)
(3)
0
(3)
Settlements
0
0
0
0
0
0
0
Others
0
0
0
0
0
0
0
Balance at 31 December 2023
0
714
116
830
(86)
0
(86)
As at 31 December 2023, the fair value of the written put options on non ‑ controlling interests (“NCI puts”) relating to ACLP amounts to €86 million (2022: €83 million) and includes an additional funding of ACLP by IQ in 2023. The fair value of these NCI puts is derived from a discounted
cash flow analysis using the latest operating plan and a projection over the lifetime of the A220 programme. In addition, a post ‑ tax WACC of 9.30% is used to discount the forecasted cash flows, taking into account the specificities of the programme (2022: 9.74%).
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
Nominal amount at initial recognition at 31 December 2022
Fair value at 31 December 2023
Fair value at 31 December 2022
(In € million)
Designated at fair value through profit or loss at recognition:
Money market funds
12,410
12,410
11,135
11,135
Foreign currency funds of fixed income funds
0
0
0
0
Total
12,410
12,410
11,135
11,135
The Company manages these assets and measures their performance on a fair value basis.
82
Airbus
Financial Statements 2023
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