Universal Registration Document 2022

Introduction

Changes in debt and equity securities
(in millions of euros) 31/12/2021 Net increases Changes in fair value Changes in scope Translation adjustments Other 31/12/2022
Instruments at fair value through OCI with recycling

Instruments at fair value through OCI with recycling

31/12/2021

16,329

Instruments at fair value through OCI with recycling

Net increases

7,416

Instruments at fair value through OCI with recycling

Changes in fair value

(2,007)

Instruments at fair value through OCI with recycling

Changes in scope

3

Instruments at fair value through OCI with recycling

Translation adjustments

139

Instruments at fair value through OCI with recycling

Other

116

Instruments at fair value through OCI with recycling

31/12/2022

21,996
Instruments at fair value through OCI with no recycling

Instruments at fair value through OCI with no recycling

31/12/2021

290

Instruments at fair value through OCI with no recycling

Net increases

322

Instruments at fair value through OCI with no recycling

Changes in fair value

(15)

Instruments at fair value through OCI with no recycling

Changes in scope

(353)

Instruments at fair value through OCI with no recycling

Translation adjustments

-

Instruments at fair value through OCI with no recycling

Other

(1)

Instruments at fair value through OCI with no recycling

31/12/2022

243
Instruments at fair value through profit and loss

Instruments at fair value through profit and loss

31/12/2021

28,224

Instruments at fair value through profit and loss

Net increases

(770)

Instruments at fair value through profit and loss

Changes in fair value

(2,814)

Instruments at fair value through profit and loss

Changes in scope

55

Instruments at fair value through profit and loss

Translation adjustments

(6)

Instruments at fair value through profit and loss

Other

210

Instruments at fair value through profit and loss

31/12/2022

24,899
TOTAL DEBT AND EQUITY SECURITIES TOTAL DEBT AND EQUITY SECURITIES31/12/202144,843 TOTAL DEBT AND EQUITY SECURITIESNet increases6,968 TOTAL DEBT AND EQUITY SECURITIESChanges in fair value(4,836) TOTAL DEBT AND EQUITY SECURITIESChanges in scope(295) TOTAL DEBT AND EQUITY SECURITIESTranslation adjustments133 TOTAL DEBT AND EQUITY SECURITIESOther325 TOTAL DEBT AND EQUITY SECURITIES31/12/202247,138
Changes in fair value recorded in equity

Changes in the fair value of debt and equity securities were recorded in equity (EDF share) over the period as follows:

  2022 2021
(in millions of euros) Gross changes in fair value recorded in OCI with recycling (1) Gross changes in fair value recorded in OCI with no recycling (1) Gross changes in fair value recycled to profit and loss (2) Gross changes in fair value recorded in OCI with recycling (1) Gross changes in fair value recorded in OCI with no recycling (1) Gross changes in fair value recycled to profit and loss (2)
EDF dedicated assets (1,081) - (206) (202) - 42
Liquid assets (850) - (65) (81) - 21
Other assets - (16) - - 15 -
DEBT AND EQUITY SECURITIES (3) (1,931) (16) (271) (283) 15 63

(1)+/(): increase/decrease in equity (EDF share).

(2)+/(): increase/decrease in income (EDF share).

(3)Excluding associates and joint ventures.

In 2022, gross changes in fair value recorded in OCI with recycling principally concern EDF (€(1,660) million, including €(875) million for dedicated assets). In 2021, gross changes in fair value recorded in OCI with recycling principally concern EDF (€(346) million, including €(244) million for dedicated assets).

No significant impairment was recorded in 2022.

18.1.3 Loans and financial receivables

Loans and financial receivables consist of the following:

(in millions of euros) 31/12/2022 31/12/2021
Amounts receivable from the NLF

Amounts receivable from the NLF

31/12/2022

14,000

Amounts receivable from the NLF

31/12/2021

15,986
Loans and financial receivables – other

Loans and financial receivables – other

31/12/2022

2,562

Loans and financial receivables – other

31/12/2021

4,746
LOANS AND FINANCIAL RECEIVABLES LOANS AND FINANCIAL RECEIVABLES31/12/202216,562 LOANS AND FINANCIAL RECEIVABLES31/12/202120,732

At 31 December 2022 loans and financial receivables mainly include:

  • amounts representing reimbursements receivable from the Nuclear Liabilities Fund (NLF) and the British government for coverage of long-term nuclear obligations, totalling €14,000 million at 31 December 2022 (€15,986 million at 31 December 2021), discounted at the same rate as the provisions they finance (see note 15.2);
  • other loans and financial receivables notably include:
    • the overfunding of EDF Energy’s EDFG (EDF group of the ESPS) pension scheme by €658 million at 31 December 2022, compared to €2,733 million at 31 December 2021 (see note 16.1.1),
    • an amount of €253 million representing the advance payments made by Luminus to Synatom to cover long-term nuclear obligations (€282 million at 31 December 2021 and see note 15.3). In Luminus’ financial statements these amounts are discounted at the same rate as the provisions they fund. This receivable is equal to the fair value of the amounts held by Synatom on behalf of Luminus as fund assets,
    • loans made by EDF Renewables in the course of its project development activity, mainly in connection with wind farms in France, the United Kingdom and North America, amounting to €823 million at 31 December 2022 compared to €525 million at 31 December 2021.