The variable portion of the Chief Executive Officer’s current remuneration incorporates quantitative and qualitative nonfinancial objectives, including objectives associated with the L’Oréal for the Future programme. Since 2016, non-financial objectives in line with the Group’s goals for sustainability have been included in the variable remuneration of the top management, including international brand managers and country managers.
For the conditional grant of free shares, plans since 2022 stipulate the fulfilment of non-financial performance criteria, of which:
At 31 December 2023, these performance conditions of an extra-financial nature were deemed achieved.
These amounted to €91.0 million at 31 December 2023 compared with €122.7 million at 31 December 2022 and €257.9 million at 31 December 2021, of which:
Confirmed credit lines are discussed in note 9.1.10.
Other significant off-balance sheet commitments have been identified and measured. They chiefly fall due within one year and are as follows:
| € millions | 31.12.2023 | 31.12.2022 | 31.12.2021 |
|---|---|---|---|
| Guarantees given(1)These consist mainly of guarantees given to governmental bodies or concerning loans granted to third parties who are partners of the Group, and the net commitment toward the L’Oréal Foundation for its long-term action programme and commitment to pay into the fund dedicated to rebuilding the Notre-Dame Cathedral. | Guarantees given (1)These consist mainly of guarantees given to governmental bodies or concerning loans granted to third parties who are partners of the Group, and the net commitment toward the L’Oréal Foundation for its long-term action programme and commitment to pay into the fund dedicated to rebuilding the Notre-Dame Cathedral.31.12.2023 279.0 |
Guarantees given (1)These consist mainly of guarantees given to governmental bodies or concerning loans granted to third parties who are partners of the Group, and the net commitment toward the L’Oréal Foundation for its long-term action programme and commitment to pay into the fund dedicated to rebuilding the Notre-Dame Cathedral.31.12.2022 308.9 |
Guarantees given (1)These consist mainly of guarantees given to governmental bodies or concerning loans granted to third parties who are partners of the Group, and the net commitment toward the L’Oréal Foundation for its long-term action programme and commitment to pay into the fund dedicated to rebuilding the Notre-Dame Cathedral.31.12.2021 312.2 |
| Guarantees received | Guarantees received 31.12.2023 126.5 |
Guarantees received 31.12.2022 110.4 |
Guarantees received 31.12.2021 76.8 |
| Capital expenditure orders(2)Despite their strategic nature, none of these investments taken individually is material enough at Group level to warrant more detailed disclosure. | Capital expenditure orders (2)Despite their strategic nature, none of these investments taken individually is material enough at Group level to warrant more detailed disclosure.31.12.2023 581.7 |
Capital expenditure orders (2)Despite their strategic nature, none of these investments taken individually is material enough at Group level to warrant more detailed disclosure.31.12.2022 508.0 |
Capital expenditure orders (2)Despite their strategic nature, none of these investments taken individually is material enough at Group level to warrant more detailed disclosure.31.12.2021 504.2 |
| Firm purchase commitments under logistics supply and service contracts(3)Including irrevocable commitments for energy purchase contracts, particularly on green energies such as purchase power agreements recognized as own use. Note | Firm purchase commitments under logistics supply and service contracts (3)Including irrevocable commitments for energy purchase contracts, particularly on green energies such as purchase power agreements recognized as own use. Note31.12.2023 2,237.7 |
Firm purchase commitments under logistics supply and service contracts (3)Including irrevocable commitments for energy purchase contracts, particularly on green energies such as purchase power agreements recognized as own use. Note31.12.2022 1,852.1 |
Firm purchase commitments under logistics supply and service contracts (3)Including irrevocable commitments for energy purchase contracts, particularly on green energies such as purchase power agreements recognized as own use. Note31.12.2021 1,341.5 |
Equity-accounted companies include joint ventures only.
The consolidated financial statements include transactions carried out between the Group and its equity-accounted companies, considered to be related parties. The main transactions with these related parties and the associated outstanding balances are as follows:
| € millions | 2023 | 2022 | 2021 |
|---|---|---|---|
| Sales of goods and services | Sales of goods and services 2023 — |
Sales of goods and services 2022 — |
Sales of goods and services 2021 — |
| Financial expenses and income | Financial expenses and income 2023 — |
Financial expenses and income 2022 — |
Financial expenses and income 2021 — |
