|
€ millions 31 December 2020 |
Level 1 | Level 2 | Level 3 | Total fair value |
|---|---|---|---|---|
| Assets at fair value | Assets at fair valueLevel 1
|
Assets at fair valueLevel 2
|
Assets at fair valueLevel 3
|
Assets at fair valueTotal fair value
|
| Foreign exchange derivatives | Foreign exchange derivatives Level 1
|
Foreign exchange derivatives Level 2183.0 |
Foreign exchange derivatives Level 3
|
Foreign exchange derivatives Total fair value183.0 |
| Sanofi shares | Sanofi shares Level 19,304.5 |
Sanofi shares Level 2— |
Sanofi shares Level 3
|
Sanofi shares Total fair value9,304.5 |
| Other securities | Other securities Level 130.7 |
Other securities Level 2— |
Other securities Level 3153.4 |
Other securities Total fair value184.1 |
| Marketable securities | Marketable securities Level 13,739.9 |
Marketable securities Level 2— |
Marketable securities Level 3
|
Marketable securities Total fair value3,739.9 |
| TOTAL ASSETS AT FAIR VALUE | TOTAL ASSETS AT FAIR VALUELevel 113,075.1 | TOTAL ASSETS AT FAIR VALUELevel 2183.0 | TOTAL ASSETS AT FAIR VALUELevel 3153.4 | TOTAL ASSETS AT FAIR VALUETotal fair value13,411.5 |
| Liabilities at fair value | Liabilities at fair valueLevel 1
|
Liabilities at fair valueLevel 2
|
Liabilities at fair valueLevel 3
|
Liabilities at fair valueTotal fair value
|
| Foreign exchange derivatives | Foreign exchange derivatives Level 1
|
Foreign exchange derivatives Level 294.9 |
Foreign exchange derivatives Level 3
|
Foreign exchange derivatives Total fair value94.9 |
| TOTAL LIABILITIES AT FAIR VALUE | TOTAL LIABILITIES AT FAIR VALUELevel 1— | TOTAL LIABILITIES AT FAIR VALUELevel 294.9 | TOTAL LIABILITIES AT FAIR VALUELevel 3— | TOTAL LIABILITIES AT FAIR VALUETotal fair value94.9 |
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 €156.7 million, €62.7 million and €75.5 million respectively in 2022, 2021 and 2020.
In addition to the €3.33 per share annual cash dividend awarded by Sanofi, which amounted to €393.7 million for the L'Oréal Group, Sanofi paid an extraordinary dividend in kind.
The Sanofi group decided to list its wholly owned subsidiary Euroapi on the stock exchange on 6 May 2022 and to distribute 58% of its Euroapi shares to its shareholders.
Consequently, the L'Oréal Group received 5,140,317 Euroapi shares amounting to €74.5 million, which was recognised as financial income.
