The unique nature of the neutral, zwitterionic TIMs makes possible the preparation of tertiary amides via an iminium species that would not be accessible from other carbonyl derivatives and can be conducted in the presence of unprotected functional groups including acids, alcohols and thioethers.

The overall transformation can be conducted either as a one-pot procedure or via isolation of the TIM.

TIMs are easily prepared by acid-promoted condensation of potassium acyltrifluoroborates (KATs) and amines and are cleanly and rapidly oxidized to amides with hydrogen peroxide. As an alternative to both secondary and tertiary amides, we report their convenient synthesis by the rapid oxidation of trifluoroborate iminiums (TIMs). Although highly effective for most amide syntheses, the activation of carboxylic acids requires the use of problematic coupling reagents and is often poorly suited for challenging cases such as N-methyl amino acids. At the closing date, the Group is not concerned by the standards or amendments to standards published and applicable as from January 1st, 2012. The financial statements will not become final until they have been approved by the Annual General Meeting of shareholders to be held on April 26th, 2013. On February 11 th, 2013, the Board of Directors closed the consolidated financial statements at December 31st, 2012.

past service cost to be recognised immediately in profit or loss, with recognition over several periods no longer permitted The consolidated financial statements of L’Oréal and its subsidiaries (“the Group”) published for 2012 have been prepared in accordance with International Financial Reporting Standards (IFRS), as adopted in the European Union as of December 31st, 2012.The Group may be concerned by the following amendments or new standards, which are applicable as from January 1 st, 2013: ❚ Amendments to IAS 19 (revised),“Employee benefits”. Notes to the consolidated financial statements DETAILED LIST OF NOTES Note 1 Note 2 Note 3 Note 4 Note 5 Note 6 Note 7 Note 8 Note 9 Note 10 Note 18 Note 19 Note 20 Note 21 Accounting principles Changes in the scope of consolidation Segment information 101 109 110 Other current assets Cash and cash equivalents Equity Post-employment benefits, termination benefits and other long-term employee benefits Provisions for liabilities and charges Borrowings and debt Derivatives and exposure to market risks Other current liabilities Off-balance sheet commitments Changes in working capital Impact of changes in the scope of consolidation in the cash flow statement Transactions with related parties Fees accruing to auditors and members of their networks payable by the Group Subsequent events 127 127 128 Personnel costs and number of employees 113 Depreciation and amortisation expense Foreign exchange gains and losses Other operational income and expenses Other financial income and expenses Income tax Net profit attributable to owners of the company excluding non-recurring items – Earnings per share Goodwill Other intangible assets Impairment tests on intangible assets Property, plant and equipment Non-current financial assets Inventories Trade accounts receivable 113 113 114 115 115 133 137 139 140 144 145 146 146 146 147 147 Note 22 Note 23 Note 24 Note 25 Note 26 Note 27 Note 28 Note 29 Note 30 Note 31 117 119 122 124 125 126 126 127 Note 11 Note 12 Note 13 Note 14 Note 15 Note 16 Note 17 4 NOTE 1 Accounting principles The Group did not early adopt any standards or interpretations not mandatorily applicable in 2012. 2012 CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated ﬁnancial statements 4.6.

Chimex loreal