Bond redemption premiums and any issue premiums are amortised in equal portions prorated to the duration of the bond (straight-line method), regardless of the redemption pattern, applying the option allowed by Article 212-10 of the French national chart of accounts.
For the specific case of the OCEANE bond issue of September 2020, EDF decided to apply the “two separate operations” method for recognition of the issue premium, and the accrued interest method for amortisation, as allowed by Article 212-10 of the national chart of accounts.
Commissions and external costs paid by EDF upon issuance of borrowings and included in “Deferred charges” are spread on a straight-line basis over the term of the related instruments.
| (in millions of euros) | Balance at 31/12/2021 | New borrowings | Repayments | Translation adjustments (realised and unrealised) | Other | Balance at 31/12/2022 |
|---|---|---|---|---|---|---|
| Bonds (in Euros) | Bonds (in Euros) Balance at 31/12/20213,232 |
Bonds (in Euros) New borrowings- |
Bonds (in Euros) Repayments(350) |
Bonds (in Euros) Translation adjustments (realised and unrealised)- |
Bonds (in Euros) Other- |
Bonds (in Euros) Balance at 31/12/20222,882 |
| Bonds (non-Euro) | Bonds (non-Euro) Balance at 31/12/202111,028 |
Bonds (non-Euro) New borrowings- |
Bonds (non-Euro) Repayments- |
Bonds (non-Euro) Translation adjustments (realised and unrealised)541 |
Bonds (non-Euro) Other- |
Bonds (non-Euro) Balance at 31/12/202211,569 |
| Euro-Medium Term Notes (EMTN) (in Euros) | Euro-Medium Term Notes (EMTN) (in Euros) Balance at 31/12/202118,183 |
Euro-Medium Term Notes (EMTN) (in Euros) New borrowings3,000 |
Euro-Medium Term Notes (EMTN) (in Euros) Repayments(2,010) |
Euro-Medium Term Notes (EMTN) (in Euros) Translation adjustments (realised and unrealised)- |
Euro-Medium Term Notes (EMTN) (in Euros) Other- |
Euro-Medium Term Notes (EMTN) (in Euros) Balance at 31/12/202219,173 |
| Euro-Medium Term Notes (EMTN) (non-Euro) | Euro-Medium Term Notes (EMTN) (non-Euro)Balance at 31/12/202115,129 |
Euro-Medium Term Notes (EMTN) (non-Euro)New borrowings- |
Euro-Medium Term Notes (EMTN) (non-Euro)Repayments(464) |
Euro-Medium Term Notes (EMTN) (non-Euro)Translation adjustments (realised and unrealised)(75) |
Euro-Medium Term Notes (EMTN) (non-Euro)Other- |
Euro-Medium Term Notes (EMTN) (non-Euro)Balance at 31/12/202214,590 |
| Bonds (1) | Bonds (1)Balance at 31/12/202147,572 | Bonds (1)New borrowings3,000 | Bonds (1)Repayments(2,824) | Bonds (1)Translation adjustments (realised and unrealised)466 | Bonds (1)Other- | Bonds (1)Balance at 31/12/202248,214 |
| Long-term loans (in Euros) | Long-term loans (in Euros)Balance at 31/12/2021 1,391 |
Long-term loans (in Euros)New borrowings 13,900 |
Long-term loans (in Euros)Repayments (149) |
Long-term loans (in Euros)Translation adjustments (realised and unrealised) - |
Long-term loans (in Euros)Other - |
Long-term loans (in Euros)Balance at 31/12/2022 15,142 |
| Long-term loans (non-Euro) | Long-term loans (non-Euro)Balance at 31/12/2021- |
Long-term loans (non-Euro)New borrowings2,300 |
Long-term loans (non-Euro)Repayments- |
Long-term loans (non-Euro)Translation adjustments (realised and unrealised)33 |
Long-term loans (non-Euro)Other- |
Long-term loans (non-Euro)Balance at 31/12/20222,333 |
| Short-term loans (in Euros) | Short-term loans (in Euros)Balance at 31/12/2021 - |
Short-term loans (in Euros)New borrowings 200 |
Short-term loans (in Euros)Repayments - |
Short-term loans (in Euros)Translation adjustments (realised and unrealised) - |
Short-term loans (in Euros)Other - |
Short-term loans (in Euros)Balance at 31/12/2022 200 |
| Borrowings from financial institutions (2) | Borrowings from financial institutions (2)Balance at 31/12/20211,391 | Borrowings from financial institutions (2)New borrowings16,400 | Borrowings from financial institutions (2)Repayments(149) | Borrowings from financial institutions (2)Translation adjustments (realised and unrealised)33 | Borrowings from financial institutions (2)Other- | Borrowings from financial institutions (2)Balance at 31/12/202217,675 |
| Negotiable debt instruments (in Euros) | Negotiable debt instruments (in Euros) Balance at 31/12/20214,462 |
Negotiable debt instruments (in Euros) New borrowings5,136 |
Negotiable debt instruments (in Euros) Repayments- |
Negotiable debt instruments (in Euros) Translation adjustments (realised and unrealised)- |
Negotiable debt instruments (in Euros) Other- |
Negotiable debt instruments (in Euros) Balance at 31/12/20229,598 |
| Negotiable debt instruments (non-Euro) | Negotiable debt instruments (non-Euro)Balance at 31/12/2021645 |
Negotiable debt instruments (non-Euro)New borrowings452 |
Negotiable debt instruments (non-Euro)Repayments- |
Negotiable debt instruments (non-Euro)Translation adjustments (realised and unrealised)(9) |
Negotiable debt instruments (non-Euro)Other- |
Negotiable debt instruments (non-Euro)Balance at 31/12/20221,088 |
| Contractual financial borrowings | Contractual financial borrowings Balance at 31/12/20211,705 |
Contractual financial borrowings New borrowings23,989 |
Contractual financial borrowings Repayments(16,417) |
Contractual financial borrowings Translation adjustments (realised and unrealised)(3) |
Contractual financial borrowings Other- |
Contractual financial borrowings Balance at 31/12/20229,274 |
| Other borrowings (3) | Other borrowings (3)Balance at 31/12/20216,812 | Other borrowings (3)New borrowings29,577 | Other borrowings (3)Repayments(16,417) | Other borrowings (3)Translation adjustments (realised and unrealised)(12) | Other borrowings (3)Other- | Other borrowings (3)Balance at 31/12/202219,960 |
| Total borrowings | Total borrowingsBalance at 31/12/202155,775 | Total borrowingsNew borrowings48,977 | Total borrowingsRepayments(19,390) | Total borrowingsTranslation adjustments (realised and unrealised)487 | Total borrowingsOther- | Total borrowingsBalance at 31/12/202285,849 |
| Advances on consumption | Advances on consumptionBalance at 31/12/202126 | Advances on consumptionNew borrowings- | Advances on consumptionRepayments- | Advances on consumptionTranslation adjustments (realised and unrealised)- | Advances on consumptionOther1 | Advances on consumptionBalance at 31/12/202227 |
| Miscellaneous advances | Miscellaneous advances Balance at 31/12/2021785 |
Miscellaneous advances New borrowings3,667 |
Miscellaneous advances Repayments(298) |
Miscellaneous advances Translation adjustments (realised and unrealised)409 |
Miscellaneous advances Other1,149 |
Miscellaneous advances Balance at 31/12/20225,712 (4) |
| Bank overdrafts | Bank overdrafts Balance at 31/12/202191 |
Bank overdrafts New borrowings- |
Bank overdrafts Repayments- |
Bank overdrafts Translation adjustments (realised and unrealised)- |
Bank overdrafts Other(54) |
Bank overdrafts Balance at 31/12/202237 |
| Deferred bank debits | Deferred bank debits Balance at 31/12/20218 |
Deferred bank debits New borrowings- |
Deferred bank debits Repayments- |
Deferred bank debits Translation adjustments (realised and unrealised)- |
Deferred bank debits Other10 |
Deferred bank debits Balance at 31/12/202218 |
| Interest payable | Interest payable Balance at 31/12/2021813 |
Interest payable New borrowings- |
Interest payable Repayments- |
Interest payable Translation adjustments (realised and unrealised)- |
Interest payable Other57 |
Interest payable Balance at 31/12/2022870 |
| Other financial liabilities | Other financial liabilitiesBalance at 31/12/20211,697 | Other financial liabilitiesNew borrowings3,667 | Other financial liabilitiesRepayments(298) | Other financial liabilitiesTranslation adjustments (realised and unrealised)409 | Other financial liabilitiesOther1,162 | Other financial liabilitiesBalance at 31/12/20226,637 |
| TOTAL FINANCIAL LIABILITIES | TOTAL FINANCIAL LIABILITIESBalance at 31/12/202157,498 | TOTAL FINANCIAL LIABILITIESNew borrowings52,644 | TOTAL FINANCIAL LIABILITIESRepayments(19,688) | TOTAL FINANCIAL LIABILITIESTranslation adjustments (realised and unrealised)896 | TOTAL FINANCIAL LIABILITIESOther1,163 | TOTAL FINANCIAL LIABILITIESBalance at 31/12/202292,513 |
(1) The increase in bonds results from the issue of multi-tranche senior bonds, including one Green Bond tranche, in the total amount of €3,000 million (see note 2.2.4), partly offset by bond redemptions of €(2,824) million and a foreign exchange effect of €466 million.
(2) Borrowings from financial institutions include drawings totalling €10.25 billion and USD 2.2 billion (equivalent to €2 billion) on the bilateral credit lines concluded during the first half of 2022 (see note 2.2.2), and €3.1 billion on credit lines concluded during the second half of 2022 (see notes 2.2.5 and 2.2.6). They also include drawings on EIB credit lines granted to EDF (see note 2.2.3), which were then transferred to Enedis, with a nominal value of less than €800 million.
(3) The change in other borrowings principally comprises €5,579 million resulting from issuance of negotiable debt instruments (€2,822 million in 2021), and €7,569 million from transfers of bonds to several banks under repurchase agreements, which gave rise to a cash receipt.
(4) This amount mainly includes €1,966 million (USD 2,098 million relating to the redemption option exercised by EDF on 29 January 2023 for the 2013 bond issue) reclassified by EDF from “Additional equity” to “Financial liabilities” since the redemption is considered certain (see note 2.2.7 and note 23). It also includes an amount of €3.6 billion of security deposits received as guarantees by EDF which are required to complete transactions on the purchase obligation market.
