Details of the change in equity between 1 January and 31 December 2022 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 31/12/2020 | EQUITY AS PUBLISHED AT 31/12/2020Capital1,550 | EQUITY AS PUBLISHED AT 31/12/2020Treasury shares(10) | EQUITY AS PUBLISHED AT 31/12/2020Translation adjustments (1)(871) | EQUITY AS PUBLISHED AT 31/12/2020Fair value adjustment of financial instruments (OCI with recycling) (2)(1,116) | EQUITY AS PUBLISHED AT 31/12/2020Other consolidated reserves and net income (3)46,080 | EQUITY AS PUBLISHED AT 31/12/2020Equity (EDF share)45,633 | EQUITY AS PUBLISHED AT 31/12/2020Equity (non-controlling interests)9,593 | EQUITY AS PUBLISHED 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 equity4,828 |
| Consolidated comprehensive income | Consolidated comprehensive incomeCapital- | Consolidated comprehensive incomeTreasury shares- | Consolidated comprehensive incomeTranslation adjustments (1)1,699 | Consolidated comprehensive incomeFair value adjustment of financial instruments (OCI with recycling) (2)(3,358) | Consolidated comprehensive incomeOther consolidated reserves and net income (3)5 768 | Consolidated comprehensive incomeEquity (EDF share)4 ,109 | Consolidated comprehensive incomeEquity (non-controlling interests)471 | Consolidated comprehensive incomeTotal 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 note 14.4) | Issuance/Redemption of perpetual subordinated bonds (see note 14.4) Capital- |
Issuance/Redemption of perpetual subordinated bonds (see note 14.4) Treasury shares- |
Issuance/Redemption of perpetual subordinated bonds (see note 14.4) Translation adjustments (1)- |
Issuance/Redemption of perpetual subordinated bonds (see note 14.4) Fair value adjustment of financial instruments (OCI with recycling) (2)- |
Issuance/Redemption of perpetual subordinated bonds (see note 14.4) Other consolidated reserves and net income (3)972 |
Issuance/Redemption of perpetual subordinated bonds (see note 14.4) Equity (EDF share)972 |
Issuance/Redemption of perpetual subordinated bonds (see note 14.4) Equity (non-controlling interests)- |
Issuance/Redemption of perpetual subordinated bonds (see note 14.4) Total equity972 |
| 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) Capital69 |
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 equity1,515 |
| 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)132 |
Other changes (4)Equity (EDF share)132 |
Other changes (4)Equity (non-controlling interests)1,877 |
Other changes (4)Total equity2,009 |
| EQUITY AT 31/12/2021 | EQUITY AT 31/12/2021Capital1,619 | EQUITY AT 31/12/2021Treasury shares(14) | EQUITY AT 31/12/2021Translation adjustments (1)828 | EQUITY AT 31/12/2021Fair value adjustment of financial instruments (OCI with recycling) (2)(4,474) | EQUITY AT 31/12/2021Other consolidated reserves and net income (3)52,252 | EQUITY AT 31/12/2021Equity (EDF share)50,211 | EQUITY AT 31/12/2021Equity (non-controlling interests)11,778 | EQUITY AT 31/12/2021Total equity61,989 |
| 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)(1,003) |
Gains and losses recorded in equity Fair value adjustment of financial instruments (OCI with recycling) (2)(2,977) |
Gains and losses recorded in equity Other consolidated reserves and net income (3)4,557 |
Gains and losses recorded in equity Equity (EDF share)577 |
Gains and losses recorded in equity Equity (non-controlling interests)(805) |
Gains and losses recorded in equity Total equity(228) |
| 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)(17,940) |
Net income Equity (EDF share)(17,940) |
Net income Equity (non-controlling interests)(285) |
Net income Total equity(18,225) |
| Consolidated comprehensive income | Consolidated comprehensive incomeCapital- | Consolidated comprehensive incomeTreasury shares- | Consolidated comprehensive incomeTranslation adjustments (1)(1,003) | Consolidated comprehensive incomeFair value adjustment of financial instruments (OCI with recycling) (2)(2,977) | Consolidated comprehensive incomeOther consolidated reserves and net income (3)(13,383) | Consolidated comprehensive incomeEquity (EDF share)(17,363) | Consolidated comprehensive incomeEquity (non-controlling interests)(1,090) | Consolidated comprehensive incomeTotal equity(18,453) |
| 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)(606) |
Payments on perpetual subordinated bonds Equity (EDF share)(606) |
Payments on perpetual subordinated bonds Equity (non-controlling interests)
|
Payments on perpetual subordinated bonds Total equity(606) |
| 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)(1,025) |
Issuance/Redemption of perpetual subordinated bonds (see notes 14.4) Equity (EDF share)(1,025) |
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(1,025) |
| 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)(1,050) |
Dividends paid Equity (EDF share)(1,050) |
Dividends paid Equity (non-controlling interests)(407) |
Dividends paid Total equity(1,457) |
| Purchases/sales of treasury shares | Purchases/sales of treasury shares Capital- |
Purchases/sales of treasury shares Treasury shares7 |
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)7 |
Purchases/sales of treasury shares Equity (non-controlling interests)- |
Purchases/sales of treasury shares Total equity7 |
| Capital increase by EDF (see note 14.1) | Capital increase by EDF (see note 14.1) Capital325 |
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)3,915 |
Capital increase by EDF (see note 14.1) Equity (EDF share)4,240 |
Capital increase by EDF (see note 14.1) Equity (non-controlling interests)- |
Capital increase by EDF (see note 14.1) Total equity4,240 |
| 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)(74) |
Other changes (5)Equity (EDF share)(74) |
Other changes (5)Equity (non-controlling interests)1,991 |
Other changes (5)Total equity1,917 |
| EQUITY AT 31/12/2022 | EQUITY AT 31/12/2022Capital1,944 | EQUITY AT 31/12/2022Treasury shares(7) | EQUITY AT 31/12/2022Translation adjustments (1)(175) | EQUITY AT 31/12/2022Fair value adjustment of financial instruments (OCI with recycling) (2)(7,451) | EQUITY AT 31/12/2022Other consolidated reserves and net income (3)40,029 | EQUITY AT 31/12/2022Equity (EDF share)34,340 | EQUITY AT 31/12/2022Equity (non-controlling interests)12,272 | EQUITY AT 31/12/2022Total equity46,612 |
(1) Changes in translation adjustments amount to €(1,003) million at 31 December 2022. This variation is mainly due to the depreciation of the pound sterling against the euro (£1 = €1.190 at 31 December 2021 and £1 = €1.127 at 31 December 2022).
(2) Changes in reserves recorded in OCI (Other Comprehensive Income) with recycling are shown in the Statement of Comprehensive Income. 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. They also include changes in the value of hedging costs resulting from the foreign currency basis spread on cross-currency swaps.
(3) Fair value changes recorded in OCI with no recycling are presented in this column.
(4) In 2021, “Other changes” in equity (non-controlling interests) include the effect of capital increases funded by CGN for NNB Holding Company (HPC) Ltd. (for the Hinkley Point C project) and NNB Holding Company (SZC) Ltd. (for the Sizewell C project) amounting to €1,304 million. 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;
- 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. “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 3.1.2).
(5) In 2022, “Other changes” in equity (non-controlling interests) include capital increases funded by CGN at NNB Holding Company (HPC) Ltd. (for the Hinkley Point C project) amounting to €1,351 million. They also include: - the effect of the UK Government’s (HMG) investment in and CNG’s withdrawal from NNB Holding Company (SZC) Ltd. on 30 November 2022, with an effect of €(170) million on equity (EDF share) and €361 million on equity (non-controlling interests) (see note 14.6);
- the effect of disposals not entailing a loss of control and partner contributions concerning projects owned in Belgium (the Seraing CCGT project) and by EDF Renewables (a project in Israel), with an effect of €56 million on equity (EDF share) and €281 million on equity (non-controlling interests);
- the adjustment for the expense resulting from the Employee Reserved Offer (ERO), with an effect of €44 million on equity (EDF share) (see note 7).
