| Non-current assets under finance leases at 31.12.2021 | Balance sheet, including assets under finance leases | |||||||
|---|---|---|---|---|---|---|---|---|
| Depreciation and amortisation | ||||||||
| € millions
Balance sheet captions |
Cost on initial recognition(1) | Period | Accumulated | Net value | Gross value | Depreciation | Net value | |
| Land and buildings | - | - | - | - | ||||
| TOTAL AT 31.12.2021 | - | - | - | - | 850.6 | -457.0 | 393.6 | |
| Total at 31.12.2020 | - | - | - | - | 808.6 | -432.4 | 376.2 | |
| Total at 31.12.2019 | - | - | - | - | 747.9 | -409.3 | 338.6 | |
(1) Value of the assets on the date the leases were signed.
(2) Depreciation charge for the year and accumulated depreciation that would have been recognised for these assets had they been purchased outright – Depreciation method on a straight-line basis over 20 years. The finance lease option was exercised on 30 June 2019.
| Finance lease commitments | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Lease payments made | Lease payments outstanding at year-end | ||||||||
|
€ millions Balance sheet captions |
Period | Accumulated | Less than 1 year | 1 to 5 years | More than 5 years | Total payable | Residual purchase price under the lease | ||
| Land and buildings | - | - | - | - | - | ||||
| TOTAL AT 31.12.2021 | - | - | - | - | - | - | - | ||
| Total at 31.12.2020 | - | - | - | - | - | - | - | ||
| Total at 31.12.2019 | 0.5 | 10.6 | - | - | - | - | - | ||
The finance lease option was exercised on 30 June 2019.
| € millions | 31.12.2019 | 31.12.2020 | Allocation of technical merger losses(1) |
Acquisitions/Subscriptions | Disposals/Reductions(2) | Other movements(3) |
31.12.2021 |
|---|---|---|---|---|---|---|---|
| Investments |
Investments 31.12.201911,586.8 |
Investments 31.12.202011,530.0 |
Investments Allocation of technical merger losses(1)133.1 |
Investments Acquisitions/Subscriptions35.0 |
Investments Disposals/Reductions(2)-65.9 |
Investments Other movements(3)-566.1 |
Investments 31.12.202111,066.1 |
| Loans and other receivables |
Loans and other receivables 31.12.201948.7 |
Loans and other receivables 31.12.202039.0 |
Loans and other receivables Allocation of technical merger losses(1)- |
Loans and other receivables Acquisitions/Subscriptions27.7 |
Loans and other receivables Disposals/Reductions(2)-3.3 |
Loans and other receivables Other movements(3)-29.8 |
Loans and other receivables 31.12.202133.6 |
| L’Oréal shares(4) |
L’Oréal shares (4)31.12.2019- |
L’Oréal shares (4)31.12.2020- |
L’Oréal shares (4)Allocation of technical merger losses(1)- |
L’Oréal shares (4)Acquisitions/Subscriptions10,005.9 |
L’Oréal shares (4)Disposals/Reductions(2)- |
L’Oréal shares (4)Other movements(3)-1,101.9 |
L’Oréal shares (4)31.12.20218,904.0 |
| Other |
Other 31.12.20194.4 |
Other 31.12.20204.8 |
Other Allocation of technical merger losses(1)- |
Other Acquisitions/Subscriptions1.9 |
Other Disposals/Reductions(2)-1.3 |
Other Other movements(3)- |
Other 31.12.20215.4 |
| Gross value | Gross value31.12.201911,639.9 | Gross value31.12.202011,573.8 |
Gross valueAllocation of technical merger losses(1) 133.1 |
Gross valueAcquisitions/Subscriptions10,070.5 | Gross valueDisposals/Reductions(2)-70.5 |
Gross valueOther movements(3) -1,697.8 |
Gross value31.12.202120,009.1 |
| Investments |
Investments 31.12.20191,005.2 |
Investments 31.12.20201,085.0 |
Investments Allocation of technical merger losses(1)- |
Investments Acquisitions/Subscriptions135.4 |
Investments Disposals/Reductions(2)-58.1 |
Investments Other movements(3)-425.9 |
Investments 31.12.2021736.4 |
| Loans and other receivables |
Loans and other receivables 31.12.20190.7 |
Loans and other receivables 31.12.20200.5 |
Loans and other receivables Allocation of technical merger losses(1)- |
Loans and other receivables Acquisitions/Subscriptions0.4 |
Loans and other receivables Disposals/Reductions(2)-0.5 |
Loans and other receivables Other movements(3)- |
Loans and other receivables 31.12.20210.4 |
| Other |
Other 31.12.20190.2 |
Other 31.12.20200.2 |
Other Allocation of technical merger losses(1)- |
Other Acquisitions/Subscriptions- |
Other Disposals/Reductions(2)- |
Other Other movements(3)- |
Other 31.12.20210.2 |
| Impairment | Impairment31.12.20191,006.1 | Impairment31.12.20201,085.7 |
ImpairmentAllocation of technical merger losses(1) - |
ImpairmentAcquisitions/Subscriptions135.8 | ImpairmentDisposals/Reductions(2)-58.6 |
ImpairmentOther movements(3) -425.9 |
Impairment31.12.2021737.0 |
| NET VALUE | NET VALUE31.12.201910,633.8 | NET VALUE31.12.202010,488.1 |
NET VALUEAllocation of technical merger losses(1) 133.1 |
NET VALUEAcquisitions/Subscriptions9,934.7 | NET VALUEDisposals/Reductions(2)-11.9 |
NET VALUEOther movements(3) -1,271.9 |
NET VALUE31.12.202119,272.1 |
(1) The allocation of technical merger losses stems from the universal transfer of the assets and liabilities of Magic Holdings International to L’Oréal S.A.
(2) The amount of -€65.9 million corresponds to the disposal of Cosmeurop.
(3) Other movements mainly relate to the universal transfer of the assets and liabilities of Magic Holdings International to L’Oréal S.A. and the capital reduction following the cancellation of treasury shares by L’Oréal S.A.
(4) At its meeting of 20 April 2021, the Board of Directors approved the repurchase of L’Oréal shares for a maximum amount of €22,394.9 million. A total of 3,000,000 shares acquired under the buyback programme were cancelled in accordance with the decision of the Board of Directors on 29 July 2021. On 7 December 2021, the Board of Directors approved L’Oréal S.A.’s repurchase of its own shares from Nestlé for a total amount of €8,904.0 million.
At the end of 2021, the total market value of the treasury shares amounted to €9,256.0 million based on the average share price in December and €9,281.3 million based on the closing share price on 31 December.
The detailing of subsidiaries and affiliates is presented at the end of the present notes.
