| € millions | ||||
| 31 December 2022 | Level 1 | Level 2 | Level 3 | Total fair value |
|---|---|---|---|---|
| Assets at fair value | ||||
| Foreign exchange derivatives | 260.9 | 260.9 | ||
| Sanofi shares | 10,621.5 | 10,621.5 | ||
| Other securities | 99.7 | — | 391.6 | 491.3 |
| Marketable securities | 718.5 | 718.5 | ||
| TOTAL ASSETS AT FAIR VALUE | 11,439.7 | 260.9 | 391.6 | 12,092.2 |
| Liabilities at fair value | ||||
| Foreign exchange derivatives | 170.6 | 170.6 | ||
| TOTAL LIABILITIES AT FAIR VALUE | — | 170.6 | — | 170.6 |
Financial assets and liabilities resulting from foreign exchange and/or interest rate hedging transactions entered into with the Group’s counterparty banks are not offset in the balance sheet since they are FBF (French Banking Federation) or ISDA (International Swaps and Derivatives Association) agreements that only provide for offsetting in the event of default by one of the parties to the agreement. Accordingly, they do not meet the offsetting criteria set out in IAS 32.
Had the agreements been offset at the level of each counterparty bank, assets and liabilities would have decreased by €137.8 million, €105.5 million and €156.7 million respectively in 2024, 2023 and 2022.
In 2022, the L'Oréal Groupe received 5,140,317 Euroapi shares amounting to €74.5 million, which was recognised as financial income. Sanofi decided to list the company Euroapi on the stock exchange on 6 May 2022, of which it was a 100% shareholder, and to distribute 58% of its Euroapi shares to its shareholders.
These shares were awarded in addition to the dividend granted in kind by Sanofi as part of the annual dividend paid to its shareholders, representing for the L'Oréal Groupe an amount of €393.7 million in 2022.
Share capital consisted of 534,312,021 shares with a par value of €0.20 at 31 December 2024 following the issue of 230,423 shares for the employee shareholding plan and 664,680 free shares and the cancellation of 1,308,557 shares.
Share capital consisted of 534,725,475 shares with a par value of €0.20 at 31 December 2023 following the issue of 34,020 shares for the employee shareholding plan and 776,525 free shares and the cancellation of 1,271,632 shares.
Share capital consisted of 535,186,562 shares with a par value of €0.20 at 31 December 2022, following the issue of 448,267 shares for the employee shareholding plan and 868,806 free shares and the cancellation of 23,802,871 free shares.
