| (in millions of euros) | 2022 | 2021 |
|---|---|---|
| Instruments not classified as hedges |
Instruments not classified as hedges 2022
|
Instruments not classified as hedges 2021
|
| Interest rate instruments* |
Interest rate instruments* 2022 252 |
Interest rate instruments* 2021 130 |
| Forex instruments |
Forex instruments 2022 (607) |
Forex instruments 2021 511 |
| Instruments classified as hedges |
Instruments classified as hedges 2022
|
Instruments classified as hedges 2021
|
| Interest rate instruments |
Interest rate instruments 2022 730 |
Interest rate instruments 2021 739 |
| Forex instruments |
Forex instruments 2022 (95) |
Forex instruments 2021 (82) |
* Including interest on swaps.
The fair value of currency and interest rate swaps was calculated by discounting future cash flows using year-end market exchange and interest rates, over the remaining term of the contracts (market value includes accrued interest).
The book value of derivatives presented at nominal value in off-balance sheet commitments includes accrued interest, equalisation payments and premiums paid or received, plus translation adjustments, which are already booked in EDF’s accounts. The difference between the resulting book value and market value of these instruments is the unrealised gain or loss.
The market value of derivative financial instruments presented at nominal value in off-balance sheet commitments at 31 December 2022 as calculated by EDF is as follows:
| (in millions of euros) | Book value | Fair value |
|---|---|---|
| Interest rate hedges |
Interest rate hedgesBook value
|
Interest rate hedgesFair value
|
| Interest rate swaps |
Interest rate swaps Book value85 |
Interest rate swaps Fair value283 |
| Exchange rate hedges |
Exchange rate hedgesBook value
|
Exchange rate hedgesFair value
|
| Forward exchange transactions, currency swaps and forex options |
Forward exchange transactions, currency swaps and forex options Book value(242) |
Forward exchange transactions, currency swaps and forex options Fair value86 |
| Cross Currency Swaps |
Cross Currency Swaps Book value1,143 |
Cross Currency Swaps Fair value1,822 |
| Commodity hedges |
Commodity hedges Book value
|
Commodity hedges Fair value
|
| Oil products |
Oil products Book value- |
Oil products Fair value(15) |
| Coal |
Coal Book value- |
Coal Fair value1 |
| Electricity products |
Electricity products Book value- |
Electricity products Fair value4,877 |
| TOTAL | TOTALBook value986 | TOTALFair value7,054 |
At 31 December 2022, off-balance sheet commitments related to operations, financing and investments (other than electricity supply commitments and partnership agreements) comprise the following:
| Maturity | ||||||
|---|---|---|---|---|---|---|
| (in millions of euros) | < 1 year | 1-5 years | 5-10 years | > 10 years | 31/12/2022 | 31/12/2021 |
| Off-balance sheet commitments given | 25,752 | 22,863 | 9,782 | 11,086 | 69,483 | 55,729 |
| Operating commitments | 15,758 | 15,630 | 9,521 | 8,697 | 49,606 | 41,850 |
|
10,811 | 11,781 | 8,978 | 6,975 | 38,545 | 33,436 |
|
4,947 | 3,849 | 543 | 1,722 | 11,061 | 8,414 |
| Investment commitments | 2,722 | 3,394 | 253 | 32 | 6,401 | 6,503 |
| Financing commitments | 7,272 | 3,839 | 8 | 2,357 | 13,476 | 7,376 |
| Off-balance sheet commitments received | 3,934 | 11,882 | 256 | 307 | 16,379 | 15,157 |
| Operating commitments | 1,260 | 749 | 256 | 307 | 2,572 | 2,645 |
| Investment commitments | 40 | 39 | - | - | 79 | 73 |
| Financing commitments | 2,634 | 11,094 | - | - | 13,728 | 12,439 |
