L'Oréal - 2018 Registration Document

2018 Consolidated Financial Statements NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Number of employees, personnel costs and employee benefits

NOTE 5

Number of employees 5.1.

31.12.2018

31.12.2017 31.12.2016

Western Europe North America

29,256 14,443 42,331 86,030

28,555 14,363 39,688 82,606

27,579 14,118 38,044 79,741

New markets

TOTAL (1)(2)

Excluding employees of equity-accounted companies. (1) Excluding employees of The Body Shop which accounted for 9,590 employees in 2016. (2)

34.0 %

34.6 %

34.6 %

4

16.8 %

17.4 %

17.7 %

Western Europe

North America

49.2 %

48.0 %

47.7 %

New markets

31.12.2018

31.12.2017

31.12.2016

Personnel costs 5.2.

2018

2017

2016

€ millions

Personnel costs (including welfare contributions) (1)(2)

5,634.1

5,433.5

5,182.6

Excluding employees of equity-accounted companies. (1) Excluding personnel costs related to The Body Shop which amounted to €255.3 million in 2016. (2)

Personnel costs include the pension expense (excluding the interest component), the cost of any share-based payments (stock options and free shares), and payroll taxes.

Executive compensation 5.3. Costs recorded in respect of compensation and similar benefits granted to the Management Committee and the Board of Directors can be analysed as follows:

2018

2017

2016

€ millions

Directors’ fees

1.3

1.3

1.2

Salaries and benefits including employer welfare contributions

34.4 10.0 24.6

32.3

29.9 15.6 24.1

Employee retirement obligation charges

9.7

Share-based payment (stock option and free shares)

26.1

Exceptional factors

3.2

-

-

The number of executives who were members of the Management Committee was 16 at 31 December 2018 compared with 15 at 31 December 2017 and 31 December 2016.

REGISTRATION DOCUMENT / L'ORÉAL 2018

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