L'Oréal - 2018 Registration Document

4 2018 Consolidated Financial Statements NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Off-balance sheet commitments NOTE 13

Operating lease commitments 13.1. These amounts to €2,582.1 million at 31 December 2018 compared with €2,385.0 million at 31 December 2017 and €2,840.4 million at 31 December 2016, of which: €512.4 million was due within one year at 31 December s 2018, compared with €475.5 million at 31 December 2017 and €536.8 million at 31 December 2016;

€1,422.8 million was due within one to five years at s 31 December 2018, compared with €1,222.0 million at 31 December 2017 and €1,372.8 million at 31 December 2016; €646.9 million was due in over five years at 31 December s 2018, compared with €687,5 million at 31 December 2017 and €930.8 million at 31 December 2016.

Other off-balance sheet commitments 13.2. 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:

31.12.2018

31.12.2017

31.12.2016

€ millions

Guarantees given (1) Guarantees received

380.8

305.9

324.0

63.7

60.2

59.8

Capital expenditure orders (2)

303.2 932.8

284.1 770.8

306.7 640.9

Firm purchase commitments under logistics supply contracts

These consist mainly of guarantees given to governmental bodies or concerning loans granted to third parties who are partners of the Group, (1) and the net commitment toward the L’Oréal Foundation for its long-term action programme. Despite their strategic nature, none of these investments taken individually is material enough at Group level to warrant more detailed disclosure. (2)

Environmental risks 13.3. The Group strictly complies with regulations and laws relating to environmental protection, and does not expect that they will have any significant impact on the future operations, financial position, earnings or assets. The risks identified at 31 December 2018 are not material.

REGISTRATION DOCUMENT / L'ORÉAL 2018

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