At 31 December 2022
| Balance with offsetting under IAS 32 | Amounts covered by a general offsetting agreement but not offset under IAS 32 | |||||||
|---|---|---|---|---|---|---|---|---|
| (in millions of euros) | As reported in balance sheet | Balance without offsetting | Gross amount recognised (before offsetting) | Gross amount offset under IAS 32 | Net amount recognised after offsetting under IAS 32 | Financial instruments | Fair value of financial collateral | Net amount |
| Fair value of derivatives – assets | 42,845 | 4,493 | 76,159 | (37,807) | 38,352 | (3,548) | (7,289) | 27,515 |
| Fair value of derivatives – liabilities | (46,849) | (5,533) | (79,123) | 37,807 | (41,316) | 3,548 | 7,503 | (30,265) |
At 31 December 2021
| Balance with offsetting under IAS 32 | Amounts covered by a general offsetting agreement but not offset under IAS 32 | |||||||
|---|---|---|---|---|---|---|---|---|
| (in millions of euros) | As reported in balance sheet | Balance without offsetting | Gross amount recognised (before offsetting) | Gross amount offset under IAS 32 | Net amount recognised after offsetting under IAS 32 | Financial instruments | Fair value of financial collateral | Net amount |
| Fair value of derivatives – assets | 29,971 | 3,948 | 70,140 | (44,117) | 26,023 | (1,645) | (8,309) | 16,069 |
| Fair value of derivatives – liabilities | (32,151) | (5,316) | (70,952) | 44,117 | (26,835) | 1,645 | 5,996 | (19,194) |
The financial indicators are not defined by the accounting standards and are not directly visible in the Group’s financial statements. The principal financial indicators are the following.
Net income excluding non-recurring items corresponds to the Group’s share of net income (EDF net income) excluding non-recurring items, net changes in the fair value of energy and commodity derivatives (excluding trading activities), and net changes in the fair value of debt and equity instruments, net of tax.
The following tables show the transition from EDF net income to net income excluding non-recurring items:
At 31 December 2022
| 2022 | |||||
|---|---|---|---|---|---|
| (in millions of euros) | Notes | Gross value | Income taxes | Non-controlling interests | EDF net income |
| Net income | (17,940) | ||||
| Changes in the fair value of debt and equity instruments (1) | 8.3 | 3,160 | (822) | (12) | 2,326 |
| Net changes in fair value on Energy and Commodity derivatives, excluding trading activities | 6 | 849 | (227) | - | 622 |
| Impairment | 1,905 | (132) | (478) | 1,295 | |
| impairment of fixed assets (2) | 10.8.1 and 10.8.2 | 1,762 | (121) | (478) | 1,163 |
| impairment of investments in associates and joint ventures (3) | 12.3 | 143 | (11) | - | 132 |
| Other items | 858 | 181 | (4) | 1,035 | |
| other operating income and expenses | 7 | 687 | (141) | (4) | 542 |
| provisions for financial risks on equity investments | 187 | - | - | 187 | |
| expenses related to tax litigation | - | 322 | - | 322 | |
| other | (16) | - | - | (16) | |
| NET INCOME EXCLUDING NON-RECURRING ITEMS | (12,662) | ||||
(1) Including fair value hedges of dedicated assets.
(2) In 2022, this impairment notably concerns goodwill at EDF Energy (€(1,176) million), wind farms in the United States and Mexico (€(129) million) and impairment of land in the United Kingdom (€(120) million).
(3) In 2022, this impairment principally concerns wind farms in the United States (€(139) million).
The net income excluding non-recurring items amounts to €(12,662) million at 31 December 2022, down by €(17,379) million compared to 2021.
