| € millions | 31.12.2022 | 31.12.2021 | 31.12.2020 | |||
|---|---|---|---|---|---|---|
| Carrying amount | Acquisition cost | Carrying amount | Acquisition cost | Carrying amount | Acquisition cost | |
| Marketable securities | 718.5 | 718.5 | 513.2 | 513.3 | 3,739.9 | 3,743.5 |
| Bank accounts and other cash and cash equivalents(1) | 1,899.2 | 1,899.4 | 2,200.6 | 2,201.6 | 2,666.0 | 2,680.5 |
| TOTAL | 2,617.7 | 2,617.9 | 2,713.8 | 2,714.9 | 6,405.9 | 6,424.0 |
(1) Including €370 million in cash in countries in which cash repatriation is difficult.
Marketable securities consist mainly of SICAV money-market funds and unit trusts (on which the return is based on EONIA). They are considered as financial assets at fair value through profit or loss.
Term accounts with a maturity of less than three months at inception are shown on the Bank accounts and other cash and cash equivalents line.
| € millions | 31.12.2022 | 31.12.2021 | 31.12.2020 | |||
|---|---|---|---|---|---|---|
| Carrying amount | Acquisition cost | Carrying amount | Acquisition cost | Carrying amount | Acquisition cost | |
| Investments in non-consolidated companies | ||||||
| Sanofi(1) | 10,621.5 | 4,033.5 | 10,472.6 | 4,033.5 | 9,304.5 | 4,033.5 |
| Other listed securities(2) | 99.7 | 95.2 | 34.5 | 20.6 | 30.7 | 12.0 |
| Unlisted securities(3) | 392.6 | 441.4 | 277.9 | 336.4 | 154.4 | 244.7 |
| Financial assets at amortised cost | ||||||
| Non-current loans and receivables | 139.0 | 141.1 | 135.2 | 137.2 | 115.1 | 117.1 |
| Surplus funds for pension scheme commitments held in assets | 400.0 | — | — | |||
| TOTAL | 11,652.8 | 4,711.3 | 10,920.2 | 4,527.7 | 9,604.8 | 4,407.3 |
(1) L’Oréal’s stake in Sanofi was 9.38% at 31 December 2022. The carrying amounts at 31 December 2022, 31 December 2021 and 31 December 2020 (€10,621.5 million,€10,472.6 million and €9,304.5 million (respectively) correspond to the market value of the shares based on the closing price at each of these dates (€89.84, €88.58 and€78.70, respectively). The acquisition cost of €4,033.5 million corresponds to an entry cost of €34.12. The investment is measured at fair value through other comprehensive income.
(2) This heading includes listed securities of biotechnology start-ups as well as Euroapi shares for €71.2 million (reassessed cost) as an exceptional dividend paid in shares by Sanofi.
(3) This heading mainly includes:
This item is broken down as follows:
| € millions | 2022 | 2021 | 2020 |
|---|---|---|---|
| Interest component of pension costs |
Interest component of pension costs 2022 -6.5 |
Interest component of pension costs 2021 -10.1 |
Interest component of pension costs 2020 -13.3 |
| Other financial income and expenses |
Other financial income and expenses 2022 -65.8 |
Other financial income and expenses 2021 -30.1 |
Other financial income and expenses 2020 -23.3 |
| TOTAL |
TOTAL 2022 -72.3 |
TOTAL 2021 -40.2 |
TOTAL 2020 -36.5 |
