2022 Universal Registration Document

Chapter 6 : Parent company financial statements

6.3. Changes in shareholders’ equity

The share capital comprises 535,186,562 shares with a par value of €0.2 each following transactions carried out in 2022:

issue of 448,267 shares under the employee shareholding plan;
issue of 868,806 free shares;
cancellation of 23,802,871 shares including 22,260,000 shares repurchased from Nestlé in December 2022.

Changes in shareholders’ equity are as follows:

€ millions	Share capital	Additional paid-in capital	1976 revaluation reserve	Reserves and retained earnings	Net profit	Regulated provisions	Total
Balance at 31 December 2019 before appropriation of net profit	Balance at 31 December 2019 before appropriation of net profitShare capital111.6	Balance at 31 December 2019 before appropriation of net profitAdditional paid-in capital3,130.2	Balance at 31 December 2019 before appropriation of net profit1976 revaluation reserve42.5	Balance at 31 December 2019 before appropriation of net profitReserves and retained earnings8,044.6	Balance at 31 December 2019 before appropriation of net profitNet profit4,105.8	Balance at 31 December 2019 before appropriation of net profitRegulated provisions49.8	Balance at 31 December 2019 before appropriation of net profitTotal15,484.5
Capital increase	Capital increase Share capital 0.4	Capital increase Additional paid-in capital 129.6	Capital increase 1976 revaluation reserve	Capital increase Reserves and retained earnings	Capital increase Net profit	Capital increase Regulated provisions	Capital increase Total 130.0
Cancellation of shares	Cancellation of shares Share capital	Cancellation of shares Additional paid-in capital	Cancellation of shares 1976 revaluation reserve	Cancellation of shares Reserves and retained earnings	Cancellation of shares Net profit	Cancellation of shares Regulated provisions	Cancellation of shares Total
Appropriation of 2019 net profit	Appropriation of 2019 net profit Share capital	Appropriation of 2019 net profit Additional paid-in capital	Appropriation of 2019 net profit 1976 revaluation reserve	Appropriation of 2019 net profit Reserves and retained earnings 1,933.2	Appropriation of 2019 net profit Net profit -1,933.2	Appropriation of 2019 net profit Regulated provisions	Appropriation of 2019 net profit Total 0.0
Dividends paid for 2019	Dividends paid for 2019 Share capital	Dividends paid for 2019 Additional paid-in capital	Dividends paid for 2019 1976 revaluation reserve	Dividends paid for 2019 Reserves and retained earnings	Dividends paid for 2019 Net profit -2,172.6	Dividends paid for 2019 Regulated provisions	Dividends paid for 2019 Total -2,172.6
2020 net profit	2020 net profit Share capital	2020 net profit Additional paid-in capital	2020 net profit 1976 revaluation reserve	2020 net profit Reserves and retained earnings	2020 net profit Net profit 4,158.8	2020 net profit Regulated provisions	2020 net profit Total 4,158.8
Other movements during the period	Other movements during the period Share capital	Other movements during the period Additional paid-in capital	Other movements during the period 1976 revaluation reserve	Other movements during the period Reserves and retained earnings -0.2	Other movements during the period Net profit	Other movements during the period Regulated provisions -13.6	Other movements during the period Total -13.8
Balance at 31 December 2020 before appropriation of net profit	Balance at 31 December 2020 before appropriation of net profitShare capital112.0	Balance at 31 December 2020 before appropriation of net profitAdditional paid-in capital3,259.8	Balance at 31 December 2020 before appropriation of net profit1976 revaluation reserve42.5	Balance at 31 December 2020 before appropriation of net profitReserves and retained earnings9,977.6	Balance at 31 December 2020 before appropriation of net profitNet profit4,158.8	Balance at 31 December 2020 before appropriation of net profitRegulated provisions36.2	Balance at 31 December 2020 before appropriation of net profitTotal17,586.8
Capital increase	Capital increase Share capital 0.1	Capital increase Additional paid-in capital 5.8	Capital increase 1976 revaluation reserve	Capital increase Reserves and retained earnings	Capital increase Net profit	Capital increase Regulated provisions	Capital increase Total 5.9
Cancellation of shares	Cancellation of shares Share capital -0.6	Cancellation of shares Additional paid-in capital	Cancellation of shares 1976 revaluation reserve	Cancellation of shares Reserves and retained earnings -1,101.3	Cancellation of shares Net profit	Cancellation of shares Regulated provisions	Cancellation of shares Total -1,101.9
Appropriation of 2020 net profit	Appropriation of 2020 net profit Share capital	Appropriation of 2020 net profit Additional paid-in capital	Appropriation of 2020 net profit 1976 revaluation reserve	Appropriation of 2020 net profit Reserves and retained earnings 1,894.4	Appropriation of 2020 net profit Net profit -1,894.4	Appropriation of 2020 net profit Regulated provisions	Appropriation of 2020 net profit Total 0.0
Dividends paid for 2020	Dividends paid for 2020 Share capital	Dividends paid for 2020 Additional paid-in capital	Dividends paid for 2020 1976 revaluation reserve	Dividends paid for 2020 Reserves and retained earnings	Dividends paid for 2020 Net profit -2,264.4	Dividends paid for 2020 Regulated provisions	Dividends paid for 2020 Total -2,264.4
2021 net profit	2021 net profit Share capital	2021 net profit Additional paid-in capital	2021 net profit 1976 revaluation reserve	2021 net profit Reserves and retained earnings	2021 net profit Net profit 3,860.5	2021 net profit Regulated provisions	2021 net profit Total 3,860.5
Other movements during the period	Other movements during the period Share capital	Other movements during the period Additional paid-in capital	Other movements during the period 1976 revaluation reserve	Other movements during the period Reserves and retained earnings -0.1	Other movements during the period Net profit	Other movements during the period Regulated provisions -6.3	Other movements during the period Total -6.4
Balance at 31 December 2021 before appropriation of net profit	Balance at 31 December 2021 before appropriation of net profitShare capital111.5	Balance at 31 December 2021 before appropriation of net profitAdditional paid-in capital3,265.6	Balance at 31 December 2021 before appropriation of net profit1976 revaluation reserve42.5	Balance at 31 December 2021 before appropriation of net profitReserves and retained earnings10,770.6	Balance at 31 December 2021 before appropriation of net profitNet profit3,860.5	Balance at 31 December 2021 before appropriation of net profitRegulated provisions29.9	Balance at 31 December 2021 before appropriation of net profitTotal18,080.6
Capital increase	Capital increase Share capital 0.3	Capital increase Additional paid-in capital 103.1	Capital increase 1976 revaluation reserve	Capital increase Reserves and retained earnings	Capital increase Net profit	Capital increase Regulated provisions	Capital increase Total 103.4
Cancellation of shares	Cancellation of shares Share capital -4.8	Cancellation of shares Additional paid-in capital	Cancellation of shares 1976 revaluation reserve	Cancellation of shares Reserves and retained earnings -9,399.4	Cancellation of shares Net profit	Cancellation of shares Regulated provisions	Cancellation of shares Total -9,404.2
Appropriation of 2021 net profit	Appropriation of 2021 net profit Share capital	Appropriation of 2021 net profit Additional paid-in capital	Appropriation of 2021 net profit 1976 revaluation reserve	Appropriation of 2021 net profit Reserves and retained earnings 1,259.3	Appropriation of 2021 net profit Net profit -1,259.3	Appropriation of 2021 net profit Regulated provisions	Appropriation of 2021 net profit Total 0.0
Dividends paid for 2021	Dividends paid for 2021 Share capital	Dividends paid for 2021 Additional paid-in capital	Dividends paid for 2021 1976 revaluation reserve	Dividends paid for 2021 Reserves and retained earnings	Dividends paid for 2021 Net profit -2,601.2	Dividends paid for 2021 Regulated provisions	Dividends paid for 2021 Total -2,601.2
2022 net profit	2022 net profit Share capital	2022 net profit Additional paid-in capital	2022 net profit 1976 revaluation reserve	2022 net profit Reserves and retained earnings	2022 net profit Net profit 12,343.1	2022 net profit Regulated provisions	2022 net profit Total 12,343.1
Other movements during the period	Other movements during the period Share capital	Other movements during the period Additional paid-in capital	Other movements during the period 1976 revaluation reserve	Other movements during the period Reserves and retained earnings	Other movements during the period Net profit	Other movements during the period Regulated provisions -7.9	Other movements during the period Total -7.9
BALANCE AT 31 DECEMBER 2022 BEFORE APPROPRIATION OF NET PROFIT	BALANCE AT 31 DECEMBER 2022 BEFORE APPROPRIATION OF NET PROFITShare capital107.0	BALANCE AT 31 DECEMBER 2022 BEFORE APPROPRIATION OF NET PROFITAdditional paid-in capital3,368.7	BALANCE AT 31 DECEMBER 2022 BEFORE APPROPRIATION OF NET PROFIT1976 revaluation reserve42.5	BALANCE AT 31 DECEMBER 2022 BEFORE APPROPRIATION OF NET PROFITReserves and retained earnings2,630.5	BALANCE AT 31 DECEMBER 2022 BEFORE APPROPRIATION OF NET PROFITNet profit12,343.1	BALANCE AT 31 DECEMBER 2022 BEFORE APPROPRIATION OF NET PROFITRegulated provisions22.0	BALANCE AT 31 DECEMBER 2022 BEFORE APPROPRIATION OF NET PROFITTotal18,513.8

The amount added to reserves for (i) unpaid dividends on some treasury shares held by L’Oréal, (ii) movements between 1 January and the dividend payment date, on maturing free share plans, (iii) and the final number of shares carrying preferential dividend rights, stood at - €4.5 million in 2022, compared with -€2.7 million in 2021 and - €6.2 million in 2020.

Regulated provisions mainly consisted of accelerated tax‑driven depreciation, which amounted to €22 million at 31 December 2022, compared with €29.9 million at 31 December 2021 and €36.2 million at 31 December 2020.

Details of option plans and free share plans are provided in note 17.