Universal Registration Document 2021

Change in consolidated equity

Details of the change in equity between 1 January and 31 December 2021 are as follows:

(in millions of euros)	Capital	Treasury shares	Translation adjustments⁽¹⁾	Fair value adjustment of financial instruments (OCI with recycling)⁽²⁾	Other consolidated reserves and net income⁽³⁾	Equity (EDF share)	Equity (non-controlling interests)	Total equity
EQUITY AS PUBLISHED AT 31/12/2019	EQUITY AS PUBLISHED AT 31/12/2019Capital1,552	EQUITY AS PUBLISHED AT 31/12/2019Treasury shares(64)	EQUITY AS PUBLISHED AT 31/12/2019 Translation adjustments⁽¹⁾1,037	EQUITY AS PUBLISHED AT 31/12/2019Fair value adjustment of financial instruments (OCI with recycling)⁽²⁾(1,198)	EQUITY AS PUBLISHED AT 31/12/2019Other consolidated reserves and net income⁽³⁾45,139	EQUITY AS PUBLISHED AT 31/12/2019Equity (EDF share)46,466	EQUITY AS PUBLISHED AT 31/12/2019Equity (non-controlling interests)9,324	EQUITY AS PUBLISHED AT 31/12/2019Total equity55,790
Gains and losses recorded in equity	Gains and losses recorded in equity Capital -	Gains and losses recorded in equity Treasury shares -	Gains and losses recorded in equity Translation adjustments⁽¹⁾ (1,908)	Gains and losses recorded in equity Fair value adjustment of financial instruments (OCI with recycling)⁽²⁾ 82	Gains and losses recorded in equity Other consolidated reserves and net income⁽³⁾ (1,346)	Gains and losses recorded in equity Equity (EDF share) (3,172)	Gains and losses recorded in equity Equity (non-controlling interests) (377)	Gains and losses recorded in equity Total equity (3,549)
Net income	Net income Capital -	Net income Treasury shares -	Net income Translation adjustments⁽¹⁾ -	Net income Fair value adjustment of financial instruments (OCI with recycling)⁽²⁾ -	Net income Other consolidated reserves and net income⁽³⁾ 650	Net income Equity (EDF share) 650	Net income Equity (non-controlling interests) (35)	Net income Total equity 615
*Consolidated* *comprehensive income*	*Consolidated* **comprehensive incomeCapital** -	*Consolidated* **comprehensive incomeTreasury shares** -	*Consolidated* *comprehensive income* Translation adjustments⁽¹⁾(1,908)	*Consolidated* **comprehensive incomeFair value adjustment of financial instruments (OCI with recycling)⁽²⁾**82	*Consolidated* **comprehensive incomeOther consolidated reserves and net income⁽³⁾**(696)	*Consolidated* **comprehensive incomeEquity (EDF share)**(2,522)	*Consolidated* **comprehensive incomeEquity (non-controlling interests)**(412)	*Consolidated* **comprehensive incomeTotal equity**(2,934)
Payments on perpetual subordinated bonds	Payments on perpetual subordinated bonds Capital -	Payments on perpetual subordinated bonds Treasury shares -	Payments on perpetual subordinated bonds Translation adjustments⁽¹⁾ -	Payments on perpetual subordinated bonds Fair value adjustment of financial instruments (OCI with recycling)⁽²⁾ -	Payments on perpetual subordinated bonds Other consolidated reserves and net income⁽³⁾ (501)	Payments on perpetual subordinated bonds Equity (EDF share) (501)	Payments on perpetual subordinated bonds Equity (non-controlling interests) -	Payments on perpetual subordinated bonds Total equity (501)
Issuance/Redemption of perpetual subordinated bonds and OCEANEs (see notes 14.4 and 15)	Issuance/Redemption of perpetual subordinated bonds and OCEANEs (see notes 14.4 and 15) Capital -	Issuance/Redemption of perpetual subordinated bonds and OCEANEs (see notes 14.4 and 15) Treasury shares -	Issuance/Redemption of perpetual subordinated bonds and OCEANEs (see notes 14.4 and 15) Translation adjustments⁽¹⁾ -	Issuance/Redemption of perpetual subordinated bonds and OCEANEs (see notes 14.4 and 15) Fair value adjustment of financial instruments (OCI with recycling)⁽²⁾ -	Issuance/Redemption of perpetual subordinated bonds and OCEANEs (see notes 14.4 and 15) Other consolidated reserves and net income⁽³⁾ 2,207	Issuance/Redemption of perpetual subordinated bonds and OCEANEs (see notes 14.4 and 15) Equity (EDF share) 2,207	Issuance/Redemption of perpetual subordinated bonds and OCEANEs (see notes 14.4 and 15) Equity (non-controlling interests) -	Issuance/Redemption of perpetual subordinated bonds and OCEANEs (see notes 14.4 and 15) Total equity 2,207
Dividends paid	Dividends paid Capital -	Dividends paid Treasury shares -	Dividends paid Translation adjustments⁽¹⁾ -	Dividends paid Fair value adjustment of financial instruments (OCI with recycling)⁽²⁾ -	Dividends paid Other consolidated reserves and net income⁽³⁾ -	Dividends paid Equity (EDF share) -	Dividends paid Equity (non-controlling interests) (271)	Dividends paid Total equity (271)
Purchases/sales of treasury shares	Purchases/sales of treasury shares Capital -	Purchases/sales of treasury shares Treasury shares 1	Purchases/sales of treasury shares Translation adjustments⁽¹⁾ -	Purchases/sales of treasury shares Fair value adjustment of financial instruments (OCI with recycling)⁽²⁾ -	Purchases/sales of treasury shares Other consolidated reserves and net income⁽³⁾ -	Purchases/sales of treasury shares Equity (EDF share) 1	Purchases/sales of treasury shares Equity (non-controlling interests) -	Purchases/sales of treasury shares Total equity 1
Capital decrease by EDF (see note 14.1)	Capital decrease by EDF (see note 14.1) Capital (2)	Capital decrease by EDF (see note 14.1) Treasury shares 53	Capital decrease by EDF (see note 14.1) Translation adjustments⁽¹⁾ -	Capital decrease by EDF (see note 14.1) Fair value adjustment of financial instruments (OCI with recycling)⁽²⁾ -	Capital decrease by EDF (see note 14.1) Other consolidated reserves and net income⁽³⁾ (51)	Capital decrease by EDF (see note 14.1) Equity (EDF share) -	Capital decrease by EDF (see note 14.1) Equity (non-controlling interests) -	Capital decrease by EDF (see note 14.1) Total equity -
Other changes ⁽⁴⁾	Other changes ⁽⁴⁾Capital -	Other changes ⁽⁴⁾Treasury shares -	Other changes ⁽⁴⁾ Translation adjustments⁽¹⁾ -	Other changes ⁽⁴⁾Fair value adjustment of financial instruments (OCI with recycling)⁽²⁾ -	Other changes ⁽⁴⁾Other consolidated reserves and net income⁽³⁾ (18)	Other changes ⁽⁴⁾Equity (EDF share) (18)	Other changes ⁽⁴⁾Equity (non-controlling interests) 952	Other changes ⁽⁴⁾Total equity 934
EQUITY AT 31/12/2020	EQUITY AT 31/12/2020Capital1,550	EQUITY AT 31/12/2020Treasury shares(10)	EQUITY AT 31/12/2020 Translation adjustments⁽¹⁾(871)	EQUITY AT 31/12/2020Fair value adjustment of financial instruments (OCI with recycling)⁽²⁾(1,116)	EQUITY AT 31/12/2020Other consolidated reserves and net income⁽³⁾46,080	EQUITY AT 31/12/2020Equity (EDF share)45,633	EQUITY AT 31/12/2020Equity (non-controlling interests)9,593	EQUITY AT 31/12/2020Total equity55,226
Gains and losses recorded in equity	Gains and losses recorded in equity Capital -	Gains and losses recorded in equity Treasury shares -	Gains and losses recorded in equity Translation adjustments⁽¹⁾ 1,699	Gains and losses recorded in equity Fair value adjustment of financial instruments (OCI with recycling)⁽²⁾ (3,358)	Gains and losses recorded in equity Other consolidated reserves and net income⁽³⁾ 655	Gains and losses recorded in equity Equity (EDF share) (1,004)	Gains and losses recorded in equity Equity (non-controlling interests) 756	Gains and losses recorded in equity Total equity (248)
Net income	Net income Capital -	Net income Treasury shares -	Net income Translation adjustments⁽¹⁾ -	Net income Fair value adjustment of financial instruments (OCI with recycling)⁽²⁾ -	Net income Other consolidated reserves and net income⁽³⁾ 5,113	Net income Equity (EDF share) 5,113	Net income Equity (non-controlling interests) (285)	Net income Total equity 4,828
Consolidated comprehensive income	Consolidated comprehensive income Capital-	Consolidated comprehensive income Treasury shares-	Consolidated comprehensive income Translation adjustments⁽¹⁾1,699	Consolidated comprehensive income Fair value adjustment of financial instruments (OCI with recycling)⁽²⁾(3,358)	Consolidated comprehensive income Other consolidated reserves and net income⁽³⁾5,768	Consolidated comprehensive income Equity (EDF share)4,109	Consolidated comprehensive income Equity (non-controlling interests)471	Consolidated comprehensive income Total equity4,580
Payments on perpetual subordinated bonds	Payments on perpetual subordinated bonds Capital -	Payments on perpetual subordinated bonds Treasury shares -	Payments on perpetual subordinated bonds Translation adjustments⁽¹⁾ -	Payments on perpetual subordinated bonds Fair value adjustment of financial instruments (OCI with recycling)⁽²⁾ -	Payments on perpetual subordinated bonds Other consolidated reserves and net income⁽³⁾ (547)	Payments on perpetual subordinated bonds Equity (EDF share) (547)	Payments on perpetual subordinated bonds Equity (non-controlling interests) -	Payments on perpetual subordinated bonds Total equity (547)
Issuance/Redemption of perpetual subordinated bonds (see notes 14.4)	Issuance/Redemption of perpetual subordinated bonds (see notes 14.4) Capital -	Issuance/Redemption of perpetual subordinated bonds (see notes 14.4) Treasury shares -	Issuance/Redemption of perpetual subordinated bonds (see notes 14.4) Translation adjustments⁽¹⁾ -	Issuance/Redemption of perpetual subordinated bonds (see notes 14.4) Fair value adjustment of financial instruments (OCI with recycling)⁽²⁾ -	Issuance/Redemption of perpetual subordinated bonds (see notes 14.4) Other consolidated reserves and net income⁽³⁾ 972	Issuance/Redemption of perpetual subordinated bonds (see notes 14.4) Equity (EDF share) 972	Issuance/Redemption of perpetual subordinated bonds (see notes 14.4) Equity (non-controlling interests) -	Issuance/Redemption of perpetual subordinated bonds (see notes 14.4) Total equity 972
Dividends paid	Dividends paid Capital -	Dividends paid Treasury shares -	Dividends paid Translation adjustments⁽¹⁾ -	Dividends paid Fair value adjustment of financial instruments (OCI with recycling)⁽²⁾ -	Dividends paid Other consolidated reserves and net income⁽³⁾ (1,599)	Dividends paid Equity (EDF share) (1,599)	Dividends paid Equity (non-controlling interests) (163)	Dividends paid Total equity (1,762)
Purchases/sales of treasury shares	Purchases/sales of treasury shares Capital -	Purchases/sales of treasury shares Treasury shares (4)	Purchases/sales of treasury shares Translation adjustments⁽¹⁾ -	Purchases/sales of treasury shares Fair value adjustment of financial instruments (OCI with recycling)⁽²⁾ -	Purchases/sales of treasury shares Other consolidated reserves and net income⁽³⁾ -	Purchases/sales of treasury shares Equity (EDF share) (4)	Purchases/sales of treasury shares Equity (non-controlling interests) -	Purchases/sales of treasury shares Total equity (4)
Capital increase by EDF (see note 14.1)	Capital increase by EDF (see note 14.1) Capital 69	Capital increase by EDF (see note 14.1) Treasury shares -	Capital increase by EDF (see note 14.1) Translation adjustments⁽¹⁾ -	Capital increase by EDF (see note 14.1) Fair value adjustment of financial instruments (OCI with recycling)⁽²⁾ -	Capital increase by EDF (see note 14.1) Other consolidated reserves and net income⁽³⁾ 1,446	Capital increase by EDF (see note 14.1) Equity (EDF share) 1,515	Capital increase by EDF (see note 14.1) Equity (non-controlling interests) -	Capital increase by EDF (see note 14.1) Total equity 1,515
Other changes ⁽⁵⁾	Other changes ⁽⁵⁾ Capital -	Other changes ⁽⁵⁾ Treasury shares -	Other changes ⁽⁵⁾ Translation adjustments⁽¹⁾ -	Other changes ⁽⁵⁾ Fair value adjustment of financial instruments (OCI with recycling)⁽²⁾ -	Other changes ⁽⁵⁾ Other consolidated reserves and net income⁽³⁾ 132	Other changes ⁽⁵⁾ Equity (EDF share) 132	Other changes ⁽⁵⁾ Equity (non-controlling interests) 1,877	Other changes ⁽⁵⁾ Total equity 2,009
EQUITY AT 31/12/2021	EQUITY AT 31/12/2021 Capital1,619	EQUITY AT 31/12/2021 Treasury shares(14)	EQUITY AT 31/12/2021 Translation adjustments⁽¹⁾828	EQUITY AT 31/12/2021 Fair value adjustment of financial instruments (OCI with recycling)⁽²⁾(4,474)	EQUITY AT 31/12/2021 Other consolidated reserves and net income⁽³⁾52,252	EQUITY AT 31/12/2021 Equity (EDF share)50,211	EQUITY AT 31/12/2021 Equity (non-controlling interests)11,778	EQUITY AT 31/12/2021 Total equity61,989

– (1) Changes in translation adjustments amount to €1,699 million at 31 December 2021. This variation is mainly due to the appreciation of the pound sterling and to a smaller degree the US dollar against the

(2) Changes in reserves recorded in OCI (Other Comprehensive Income) with recycling are shown in the Statement of Comprehensive They correspond to the effects of fair value adjustments of debt securities and financial instruments hedging cash flows and net foreign investments, and amounts recycled to profit and loss in respect of terminated contracts and debt instruments transferred.

(3) Fair value changes recorded in OCI with no recycling are presented in this

(4) In 2020, “Other changes” in equity (non-controlling interests) include the effect of capital increases funded by CGN for NNB Holding Ltd. and Sizewell C Holding Co. amounting to €998

(5) In 2021, “Other changes” in equity (non-controlling interests) include the effect of capital increases funded by CGN for NNB Holding Ltd. and Sizewell C Holding Co. amounting to 1,304

In 2021, “Other changes” in equity (EDF share) also include:

– adjustment of prior year provisions for post-employment employee benefits, amounting to €49 million net of tax, resulting from application of the IFRIC decision on attribution of benefits (see note 2.3);
– reclassification of net book values for previously capitalised configuration and customisation costs on SaaS (software as a service), amounting to €(64) million net of tax, following the IASB’s confirmation of the IFRIC decision on recognition of these costs (see note 2.4).

“Other changes” in equity (EDF share and non-controlling interests) also include the effect on equity of transactions with minority shareholders in the form of acquisitions and disposals not entailing a change of consolidation method (sale of 49% of Edison Renewables, acquisition of 70% of E2i and the IPO by PodPoint, see note 3.1.1).

Universal Registration Document 2021

6. Financial statements

Change in consolidated equity