Financial Statements 2023

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 2023 and 31 December 2022:

31 December

2023

2022

(In € million)

Hedge reserve

Opening balance

5,688

3,448

Foreign exchange contracts

(1,374)

5,575

Others

(7)

34

Changes in fair values

(1,381)

5,609

Foreign exchange contracts

(2,072)

(2,358)

Others

(4)

(7)

Amount reclassified to profit or loss (matured hedges)

(2,076)

(2,365)

Foreign exchange contracts

165

(146)

Others

0

(1)

Amount classified to profit or loss (inefficiency)

165

(147)

Tax impact

902

(857)

Closing balance

3,298

5,688

The following table presents the amounts relating to items designated as hedging instruments and hedge ineffectiveness for cash flow hedges as of 31 December 2023:

Carrying values

OCI

Amounts reclassified from hedge reserve to profit or loss

Changes in values of the hedging instrument

Hedge inefficiency recorded in financial result

Other changes in value of the hedge reserve

Asset

Liability

(In € million)

Foreign currency risk

Net forward sales contracts

986

(3,529)

(2,369)

995

165

(2,072)

Foreign exchange options

0

0

0

0

0

0

Embedded Derivatives

0

(37)

(12)

0

0

(4)

Interest rate risk

0

0

0

0

0

0

Commodity swap risk

1

0

5

0

0

0

Equity swap risk

10

1

0

0

0

0

Total

997

(3,565)

(2,376)

995

165

(2,076)

86

Airbus

Financial Statements 2023