5 . NOTE 5. Number of employees, personnel costs and employee benefits 5.1. Number of employees 31.12.2021 31.12.2020 31.12.2019 Europe 34,503 35,372 36,322 North America 13,806 13,492 14,480 North Asia 20,900 20,345 20,335 SAPMENA – SSA 7,609 7,739 8,153 Latin America 8,594 8,444 8,684 TOTAL (1) 85,412 85,392 87,974 (1) Excluding employees of equity-accounted companies. 5.2. Personnel costs € millions 2021 2020 2019 Personnel costs (including welfare contributions) (1) 6,471.1 6,124.2 6,131.1 (1) Excluding employees of equity-accounted companies. Personnel costs include pension expenses (excluding interest components), the cost of any share-based payments (stock options and free shares), and payroll taxes. 5.3. Executive compensation Costs recorded in respect of compensation and similar benefits granted to the Management Committee and the Board of Directors can be analysed as follows: € mill ions 2021 2020 2019 Directors’ fees 1.4 1.4 1.3 Salaries and benefits including employer welfare contributions 40.5 40.3 40.1 Employee retirement obligation charges 11.2 12.9 10.8 SHARE-BASED PAYMENT (STOCK OPTIONS AND FREE SHARES) 27.2 27.5 33.7 The number of executives who were members of the Management Committee was 19 at 31 December 2021 compared with 20 at 31 December 2020 and at 31 December 2019. 41.3% 41.4% 40.4% 31.12.2019 31.12.2020 31.12.2021 16.5% 15.8% 16.2% 23.1% 23.8% 24.5% Europe North America North Asia Latin America SAPMENA - SSA 9.1% 9.9% 9.3% 9.9% 8.9% 10.1% 302 L ’ ORÉAL I UNIVERSAL REGISTRATION DOCUMENT 2021 2021 CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated financial statements