| Grant date | Vesting date | Vesting date outside France | Number of shares granted | Number of shares issued/allotted | Number of shares not fully vested |
|---|---|---|---|---|---|
| 18.06.2018 | 18.06.2018 Vesting date 18.06.2018 |
18.06.2018 Vesting date outside France 19.06.2023 |
18.06.2018 Number of shares granted 498,974 |
18.06.2018 Number of shares issued/allotted 490,740 |
18.06.2018 Number of shares not fully vested — |
| 02.10.2020 | 02.10.2020 Vesting date 02.10.2023 |
02.10.2020 Vesting date outside France 03.10.2025 |
02.10.2020 Number of shares granted 496,991 |
02.10.2020 Number of shares issued/allotted 456,695 |
02.10.2020 Number of shares not fully vested 34,843 |
| 22.06.2022 | 22.06.2022 Vesting date 22.06.2022 |
22.06.2022 Vesting date outside France 23.06.2027 |
22.06.2022 Number of shares granted 494,433 |
22.06.2022 Number of shares issued/allotted 451,643 |
22.06.2022 Number of shares not fully vested 39,861 |
| 19.06.2024 | 19.06.2024 Vesting date 19.06.2024 |
19.06.2024 Vesting date outside France 20.06.2029 |
19.06.2024 Number of shares granted 276,236 |
19.06.2024 Number of shares issued/allotted 230,423 |
19.06.2024 Number of shares not fully vested 43,490 |
| € millions | 31.12.2022 | 31.12.2023 | Charges | Reversals (used) | Reversals (not used) | Partial asset transfers | 31.12.2024 |
|---|---|---|---|---|---|---|---|
| Provisions for disputes | Provisions for disputes 31.12.2022 192.5 |
Provisions for disputes 31.12.2023 0.4 |
Provisions for disputes Charges — |
Provisions for disputes Reversals (used) — |
Provisions for disputes Reversals (not used)(0.4) |
Provisions for disputes Partial asset transfers — |
Provisions for disputes 31.12.2024 — |
| Provisions for foreign exchange losses | Provisions for foreign exchange losses 31.12.2022 16.0 |
Provisions for foreign exchange losses 31.12.2023 35.0 |
Provisions for foreign exchange losses Charges 57.2 |
Provisions for foreign exchange losses Reversals (used) (35.0) |
Provisions for foreign exchange losses Reversals (not used)— |
Provisions for foreign exchange losses Partial asset transfers — |
Provisions for foreign exchange losses 31.12.2024 57.2 |
| Provisions for expenses(1) | Provisions for expenses (1)31.12.2022 158.5 |
Provisions for expenses (1)31.12.2023 135.7 |
Provisions for expenses (1)Charges 112.7 |
Provisions for expenses (1)Reversals (used) (62.6) |
Provisions for expenses (1)Reversals (not used)(11.2) |
Provisions for expenses (1)Partial asset transfers (0.8) |
Provisions for expenses (1)31.12.2024 173.8 |
| Other provisions for liabilities(2) | Other provisions for liabilities (2)31.12.2022 229.6 |
Other provisions for liabilities (2)31.12.2023 149.2 |
Other provisions for liabilities (2)Charges 62.1 |
Other provisions for liabilities (2)Reversals (used) (4.3) |
Other provisions for liabilities (2)Reversals (not used)(71.6) |
Other provisions for liabilities (2)Partial asset transfers — |
Other provisions for liabilities (2)31.12.2024 135.4 |
| TOTAL | TOTAL 31.12.2022 596.6 |
TOTAL 31.12.2023 320.3 |
TOTAL Charges 231.9 |
TOTAL Reversals (used) (101.9) |
TOTAL Reversals (not used)(83.1) |
TOTAL Partial asset transfers (0.8) |
TOTAL 31.12.2024 366.5 |
The changes in provisions for liabilities and charges impact the 2024 income statement as follows:
| € millions | Charges | Reversals (used) | Reversals (not used) |
|---|---|---|---|
| Operating profit | Operating profit Charges 124.0 |
Operating profit Reversals (used) (82.5) |
Operating profit Reversals (not used) (22.4) |
| Net financial income | Net financial income Charges 56.7 |
Net financial income Reversals (used) (16.5) |
Net financial income Reversals (not used) (1.8) |
| Exceptional items | Exceptional items Charges 51.3 |
Exceptional items Reversals (used) (2.9) |
Exceptional items Reversals (not used) (58.9) |
| TOTAL | TOTAL Charges 232.0 |
TOTAL Reversals (used) (101.9) |
TOTAL Reversals (not used) (83.1) |
L’Oréal obtains financing through medium-term bond loans and issues short-term marketable instruments in France and the United States. The amounts of the programmes are €5,000 million and $5,000 million respectively. None of the Group’s borrowings or debt contains an early repayment clause linked to financial ratios (covenants).
Liquidity on the short-term marketable instruments issues is provided by confirmed undrawn short-term credit facilities with banks, which amounted to €5,000 million at 31 December 2024, compared to €5,000 million at 31 December 2023 and €5,000 million at 31 December 2022.
All borrowings and debt are denominated in euros and can be broken down as follows:
BREAKDOWN BY TYPE OF DEBT
| € millions | 31.12.2024 | 31.12.2023 | 31.12.2022 |
|---|---|---|---|
| Bonds | Bonds 31.12.2024 6,080.1 |
Bonds 31.12.2023 6,551.1 |
Bonds 31.12.2022 3,014.5 |
| Short-term marketable instruments | Short-term marketable instruments 31.12.2024 — |
Short-term marketable instruments 31.12.2023 — |
Short-term marketable instruments 31.12.2022 795.2 |
| Bank overdrafts and financing with the Group’s cash pool(1) | Bank overdrafts and financing with the Group’s cash pool (1)31.12.2024 1,807.3 |
Bank overdrafts and financing with the Group’s cash pool (1)31.12.2023 — |
Bank overdrafts and financing with the Group’s cash pool (1)31.12.2022 — |
| Other borrowings and debt | Other borrowings and debt 31.12.2024 3.1 |
Other borrowings and debt 31.12.2023 4.2 |
Other borrowings and debt 31.12.2022 62.4 |
| TOTAL | TOTAL 31.12.2024 7,890.4 |
TOTAL 31.12.2023 6,555.3 |
TOTAL 31.12.2022 3,872.1 |
(1) This item also includes €7 million in accrued interest receivable.
