2023 universal registration document

Note 12. Tangible assets

€ millions	31.12.2021	31.12.2022	Acquisitions/ Depreciation	Disposals/ Reversals	Partial asset contributions⁽¹⁾	Other movements	31.12.2023
Land	Land 31.12.2021 81.3	Land 31.12.2022 81.3	Land Acquisitions/ Depreciation -	Land Disposals/ Reversals -	Land Partial asset contributions⁽¹⁾ -0.8	Land Other movements -	Land 31.12.2023 80.5
Buildings	Buildings 31.12.2021 769.3	Buildings 31.12.2022 749.5	Buildings Acquisitions/ Depreciation 14.8	Buildings Disposals/ Reversals -34.2	Buildings Partial asset contributions⁽¹⁾ -91.8	Buildings Other movements 38.6	Buildings 31.12.2023 676.9
Industrial machinery and equipment	Industrial machinery and equipment 31.12.2021 218.7	Industrial machinery and equipment 31.12.2022 215.0	Industrial machinery and equipment Acquisitions/ Depreciation 8.1	Industrial machinery and equipment Disposals/ Reversals -4.9	Industrial machinery and equipment Partial asset contributions⁽¹⁾ -23.0	Industrial machinery and equipment Other movements 1.1	Industrial machinery and equipment 31.12.2023 196.3
Other tangible assets	Other tangible assets 31.12.2021 297.2	Other tangible assets 31.12.2022 351.9	Other tangible assets Acquisitions/ Depreciation 14.5	Other tangible assets Disposals/ Reversals -43.3	Other tangible assets Partial asset contributions⁽¹⁾ -288.3	Other tangible assets Other movements 25.1	Other tangible assets 31.12.2023 59.9
Tangible assets in progress⁽²⁾	Tangible assets in progress ⁽²⁾31.12.2021 48.1	Tangible assets in progress ⁽²⁾31.12.2022 85.9	Tangible assets in progress ⁽²⁾Acquisitions/ Depreciation 25.8	Tangible assets in progress ⁽²⁾Disposals/ Reversals 0.7	Tangible assets in progress ⁽²⁾Partial asset contributions⁽¹⁾ -18.3	Tangible assets in progress ⁽²⁾Other movements -65.8	Tangible assets in progress ⁽²⁾31.12.2023 28.3
Advances and prepayments	Advances and prepayments 31.12.2021 3.1	Advances and prepayments 31.12.2022 4.6	Advances and prepayments Acquisitions/ Depreciation -	Advances and prepayments Disposals/ Reversals -2.7	Advances and prepayments Partial asset contributions⁽¹⁾ -	Advances and prepayments Other movements -	Advances and prepayments 31.12.2023 1.9
Gross value	Gross value31.12.20211,417.7	Gross value31.12.20221,488.2	Gross valueAcquisitions/ Depreciation63.2	Gross valueDisposals/ Reversals-84.4	Gross valuePartial asset contributions⁽¹⁾-422.2	Gross valueOther movements-1.0	Gross value31.12.20231,043.8
Land	Land 31.12.2021 2.1	Land 31.12.2022 2.4	Land Acquisitions/ Depreciation 0.3	Land Disposals/ Reversals -	Land Partial asset contributions⁽¹⁾ -0.2	Land Other movements -	Land 31.12.2023 2.5
Buildings	Buildings 31.12.2021 454.9	Buildings 31.12.2022 459.5	Buildings Acquisitions/ Depreciation 22.7	Buildings Disposals/ Reversals -34.3	Buildings Partial asset contributions⁽¹⁾ -44.9	Buildings Other movements -9.3	Buildings 31.12.2023 393.7
Industrial machinery and equipment	Industrial machinery and equipment 31.12.2021 172.2	Industrial machinery and equipment 31.12.2022 171.2	Industrial machinery and equipment Acquisitions/ Depreciation 10.1	Industrial machinery and equipment Disposals/ Reversals -4.8	Industrial machinery and equipment Partial asset contributions⁽¹⁾ -15.7	Industrial machinery and equipment Other movements -	Industrial machinery and equipment 31.12.2023 160.8
Other tangible assets	Other tangible assets 31.12.2021 208.8	Other tangible assets 31.12.2022 227.3	Other tangible assets Acquisitions/ Depreciation 19.6	Other tangible assets Disposals/ Reversals -42.9	Other tangible assets Partial asset contributions⁽¹⁾ -166.9	Other tangible assets Other movements 9.3	Other tangible assets 31.12.2023 46.4
Amortisation	Amortisation31.12.2021838.0	Amortisation31.12.2022860.4	AmortisationAcquisitions/ Depreciation52.7	AmortisationDisposals/ Reversals-82.0	AmortisationPartial asset contributions⁽¹⁾-227.7	AmortisationOther movements0.0	Amortisation31.12.2023603.4
Land	Land 31.12.2021 -	Land 31.12.2022 -	Land Acquisitions/ Depreciation -	Land Disposals/ Reversals -	Land Partial asset contributions⁽¹⁾ -	Land Other movements -	Land 31.12.2023 -
Industrial machinery and equipment	Industrial machinery and equipment 31.12.2021 6.3	Industrial machinery and equipment 31.12.2022 2.6	Industrial machinery and equipment Acquisitions/ Depreciation 0.3	Industrial machinery and equipment Disposals/ Reversals -1.2	Industrial machinery and equipment Partial asset contributions⁽¹⁾ -0.5	Industrial machinery and equipment Other movements -	Industrial machinery and equipment 31.12.2023 1.2
Impairment	Impairment 31.12.2021 6.3	Impairment 31.12.2022 2.6	Impairment Acquisitions/ Depreciation 0.3	Impairment Disposals/ Reversals -1.2	Impairment Partial asset contributions⁽¹⁾ -0.5	Impairment Other movements -	Impairment 31.12.2023 1.2
NET VALUE	NET VALUE31.12.2021573.4	NET VALUE31.12.2022625.2	NET VALUEAcquisitions/ Depreciation 10.2	NET VALUEDisposals/ Reversals-1.2	NET VALUEPartial asset contributions⁽¹⁾-194.0	NET VALUEOther movements-1.0	NET VALUE31.12.2023439.2

Depreciation and amortisation recognised in 2023 for tangible assets and intangible assets included:

€131.8 million on a straight-line basis;
€10.7 million relating to exceptional depreciation and amortisation.

Note 13. Financial assets

€ millions	31.12.2021	31.12.2022	Allocation of technical mergerlosses	Acquisitions/ Subscriptions	Disposals/ Reductions	Partial asset contributions⁽⁵⁾	Other movements	31.12.2023
Equity investments⁽¹⁾	Equity investments ⁽¹⁾31.12.2021 11,066.1	Equity investments ⁽¹⁾31.12.2022 17,832.8	Equity investments ⁽¹⁾Allocation of technical mergerlosses -	Equity investments ⁽¹⁾Acquisitions/ Subscriptions 997.8	Equity investments ⁽¹⁾Disposals/ Reductions -155.9	Equity investments ⁽¹⁾Partial asset contributions⁽⁵⁾ 781.7	Equity investments ⁽¹⁾Other movements -71.8	Equity investments ⁽¹⁾31.12.2023 19,384.6
Loans and other receivables⁽²⁾	Loans and other receivables ⁽²⁾31.12.2021 33.6	Loans and other receivables ⁽²⁾31.12.2022 223.2	Loans and other receivables ⁽²⁾Allocation of technical mergerlosses -	Loans and other receivables ⁽²⁾Acquisitions/ Subscriptions 6,425.6	Loans and other receivables ⁽²⁾Disposals/ Reductions -2,851.6	Loans and other receivables ⁽²⁾Partial asset contributions⁽⁵⁾ -5.5	Loans and other receivables ⁽²⁾Other movements -38.1	Loans and other receivables ⁽²⁾31.12.2023 3,753.6
L’Oréal shares⁽³⁾	L’Oréal shares ⁽³⁾31.12.2021 8,904.0	L’Oréal shares ⁽³⁾31.12.2022 0.0	L’Oréal shares ⁽³⁾Allocation of technical mergerlosses -	L’Oréal shares ⁽³⁾Acquisitions/ Subscriptions 500.0	L’Oréal shares ⁽³⁾Disposals/ Reductions -	L’Oréal shares ⁽³⁾Partial asset contributions⁽⁵⁾ -	L’Oréal shares ⁽³⁾Other movements -500.0	L’Oréal shares ⁽³⁾31.12.2023 0.0
Others	Others 31.12.2021 5.4	Others 31.12.2022 4.9	Others Allocation of technical mergerlosses -	Others Acquisitions/ Subscriptions 4.2	Others Disposals/ Reductions -0.9	Others Partial asset contributions⁽⁵⁾ -3.9	Others Other movements -	Others 31.12.2023 4.3
Gross value	Gross value31.12.202120,009.1	Gross value31.12.202218,060.9	Gross valueAllocation of technical mergerlosses-	Gross valueAcquisitions/ Subscriptions7,927.6	Gross valueDisposals/ Reductions-3,008.4	Gross valuePartial asset contributions⁽⁵⁾772.3	Gross valueOther movements-609.9	Gross value31.12.202323,142.5
Equity investments⁽⁴⁾	Equity investments ⁽⁴⁾31.12.2021 736.4	Equity investments ⁽⁴⁾31.12.2022 785.6	Equity investments ⁽⁴⁾Allocation of technical mergerlosses -	Equity investments ⁽⁴⁾Acquisitions/ Subscriptions 2,107.9	Equity investments ⁽⁴⁾Disposals/ Reductions -63.8	Equity investments ⁽⁴⁾Partial asset contributions⁽⁵⁾ -	Equity investments ⁽⁴⁾Other movements -40.4	Equity investments ⁽⁴⁾31.12.2023 2,789.3
Loans and other receivables	Loans and other receivables 31.12.2021 0.4	Loans and other receivables 31.12.2022 0.4	Loans and other receivables Allocation of technical mergerlosses -	Loans and other receivables Acquisitions/ Subscriptions 0.4	Loans and other receivables Disposals/ Reductions -0.4	Loans and other receivables Partial asset contributions⁽⁵⁾ -0.4	Loans and other receivables Other movements -	Loans and other receivables 31.12.2023 0.0
Others	Others 31.12.2021 0.2	Others 31.12.2022 0.3	Others Allocation of technical mergerlosses -	Others Acquisitions/ Subscriptions -	Others Disposals/ Reductions -	Others Partial asset contributions⁽⁵⁾ -0.1	Others Other movements -	Others 31.12.2023 0.2
Impairment	Impairment 31.12.2021 737.0	Impairment 31.12.2022 786.3	Impairment Allocation of technical mergerlosses -	Impairment Acquisitions/ Subscriptions 2,108.3	Impairment Disposals/ Reductions -64.2	Impairment Partial asset contributions⁽⁵⁾ -0.5	Impairment Other movements -40.4	Impairment 31.12.2023 2,789.5
NET VALUE	NET VALUE31.12.202119,272.1	NET VALUE31.12.202217,274.6	NET VALUEAllocation of technical mergerlosses-	NET VALUEAcquisitions/ Subscriptions5,819.3	NET VALUEDisposals/ Reductions-2,944.2	NET VALUEPartial asset contributions⁽⁵⁾771.8	NET VALUEOther movements-569.5	NET VALUE31.12.202320,353.0

(1) Acquisitions essentially corresponded to Aēsop UK securities for €968.2 million. Disposal/reduction: these mainly concerned the capital reduction of L’Oréal Brazil and the disposal of Sanoflore and L’Oréal Venezuela shares. Other movements included the disposal of L’Oréal Côte d’Ivoire and LOA3 (UTA) securities.

(2) Movements on loans and other receivables correspond to loans granted and repaid during the year to Finval. During the 2023 financial year, L’Oréal S. A. set up long-term loans with Finval for €4,750 million, with maturities ranging from 2025 to 2028. €1,000 million was repaid early in 2023.

(3) On 27 July 2023, the Board of Directors resolved, in connection with the authorisation approved by the Annual General Meeting of 21 April 2023, to buy back L’Oréal shares in the maximum amount of €500 million. The shares thus bought back for €500 million were cancelled in line with the Board of Directors’ decision on 7 December 2023.

(4) Mainly corresponds to the provision for impairment of L’Oréal Singapore securities.

(5) Financial assets contributed as part of partial contributions of assets and securities received as remuneration for contributions (L’Oréal France and L’Oréal International Distribution).

The table of subsidiaries and holdings is included at the end of the parent company financial statements.

2023 universal registration document

5. 2023 Consolidated Financial Statements

Note 12. Tangible assets

Note 13. Financial assets