Document and Entity Information
Document and Entity Information | 12 Months Ended |
Dec. 31, 2017shares | |
Document - Document and Entity Information [Abstract] | |
Document Type | 20-F/A |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2017 |
Document Fiscal Year Focus | 2,017 |
Document Fiscal Period Focus | FY |
Trading Symbol | SNY |
Entity Registrant Name | Sanofi |
Entity Central Index Key | 1,121,404 |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | Yes |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Common Stock, Shares Outstanding | 1,254,019,904 |
Consolidated Balance Sheets
Consolidated Balance Sheets - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Assets | ||||
Property, plant and equipment | € 9,579 | € 10,019 | € 9,943 | |
Goodwill | 40,264 | 40,287 | 39,557 | |
Other intangible assets | 13,080 | 10,879 | 12,026 | |
Investments accounted for using the equity method | 2,863 | 2,890 | 2,676 | |
Other non-current assets | 3,364 | 2,820 | 2,725 | |
Deferred tax assets | 4,290 | 4,669 | 4,714 | |
Non-current assets | 73,440 | 71,564 | 71,641 | |
Inventories | 6,816 | 6,892 | 6,516 | |
Accounts receivable | 7,216 | 7,311 | 7,386 | |
Other current assets | 2,005 | 2,211 | 1,878 | |
Cash and cash equivalents | [1] | 10,315 | 10,273 | 9,148 |
Current assets | 26,352 | 26,687 | 24,928 | |
Assets held for sale or exchange | 34 | 6,421 | 5,752 | |
TOTAL ASSETS | 99,826 | 104,672 | 102,321 | |
EQUITY AND LIABILITIES | ||||
Equity attributable to equity holders of Sanofi | 58,089 | 57,554 | 58,049 | |
Equity attributable to non-controlling interests | 169 | 170 | 161 | |
Total equity | 58,258 | 57,724 | 58,210 | |
Long-term debt | 14,326 | 16,815 | 13,118 | |
Non-current liabilities related to business combinations and to non-controlling interests | 1,026 | 1,378 | 1,121 | |
Non-current provisions and other non-current liabilities | 9,154 | 8,834 | 9,169 | |
Deferred tax liabilities | 1,605 | 2,292 | 2,895 | |
Non-current liabilities | 26,111 | 29,319 | 26,303 | |
Accounts payable | 4,633 | 4,297 | 3,817 | |
Current liabilities related to business combinations and to non-controlling interests | 343 | 198 | 130 | |
Current provisions and other current liabilities | 9,206 | 10,175 | 9,442 | |
Short-term debt and current portion of long-term debt | 1,275 | 1,764 | 3,436 | |
Current liabilities | 15,457 | 16,434 | 16,825 | |
Liabilities related to assets held for sale or exchange | 1,195 | 983 | ||
TOTAL EQUITY AND LIABILITIES | € 99,826 | € 104,672 | € 102,321 | |
[1] | For 2015 and 2016, cash flows of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations). For 2017, all of the cash flows generated from the exchange of the Animal Health business for the Consumer Healthcare business of Boehringer Ingelheim (BI) are described in note (i) below. |
Consolidated Income Statements
Consolidated Income Statements - EUR (€) € in Millions, shares in Millions | 12 Months Ended | ||||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||||
Profit (loss) [Abstract] | |||||||
Net sales | [1] | € 35,055 | € 33,821 | € 34,060 | [2] | ||
Other revenues | [1] | 1,149 | 887 | 801 | [2] | ||
Cost of sales | [1] | (11,611) | (10,702) | (10,919) | [2] | ||
Gross profit | [1] | 24,593 | 24,006 | 23,942 | [2] | ||
Research and development expenses | [1] | (5,472) | (5,172) | (5,082) | [2] | ||
Selling and general expenses | [1] | (10,058) | (9,486) | (9,382) | [2] | ||
Other operating income | [1] | 237 | 355 | 254 | [2] | ||
Other operating expenses | [1] | (233) | (482) | (462) | [2] | ||
Amortization of intangible assets | [1] | (1,866) | (1,692) | (2,137) | [2] | ||
Impairment of intangible assets | [1] | (293) | (192) | (767) | [2] | ||
Fair value remeasurement of contingent consideration | [1] | (159) | (135) | 53 | [2] | ||
Restructuring costs and similar items | [1] | (731) | (879) | (795) | [2] | ||
Other gains and losses, and litigation | (215) | [1] | 211 | [1] | 0 | ||
Operating income | [1] | 5,803 | 6,534 | 5,624 | [2] | ||
Financial expenses | [1] | (420) | (924) | (559) | [2] | ||
Financial income | [1] | 147 | 68 | 178 | [2] | ||
Income before tax and investments accounted for using the equity method | [1] | 5,530 | 5,678 | 5,243 | [2] | ||
Income tax expense | [1] | (1,722) | (1,326) | (709) | [2] | ||
Share of profit/(loss) from investments accounted for using the equity method | [1] | 104 | 134 | (22) | [2] | ||
Net income excluding the exchanged/held-for-exchange Animal Health business | [1] | 3,912 | 4,486 | 4,512 | [2] | ||
Net income/(loss) of the exchanged/held-for-exchange Animal Health business | [1],[3] | 4,643 | 314 | (124) | [2] | ||
Net income | [1] | 8,555 | 4,800 | 4,388 | [2] | ||
Net income attributable to non-controlling interests | [1] | 121 | 91 | 101 | [2] | ||
Net income attributable to equity holders of Sanofi | [1] | € 8,434 | € 4,709 | € 4,287 | [2] | ||
Average number of shares outstanding (million) | [1] | 1,256.9 | 1,286.6 | 1,306.2 | [2] | ||
Average number of shares outstanding after dilution (million) | [1] | 1,266.8 | 1,296 | 1,320.7 | [2] | ||
Basic earnings per share (in euros) | [1] | € 6.71 | € 3.66 | € 3.28 | [2] | ||
Basic earnings per share excluding the exchanged/held-for-exchangeAnimal Health business (in euros) | [1] | 3.02 | 3.42 | 3.38 | [2] | ||
Diluted earnings per share (in euros) | [1] | 6.66 | 3.63 | 3.25 | [2] | ||
Diluted earnings per share excluding the exchanged/held-for-exchangeAnimal Health business (in euros) | [1] | € 2.99 | € 3.39 | € 3.34 | [2] | ||
[1] | The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36. | ||||||
[2] | Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.). | ||||||
[3] | For 2015 and 2016, cash flows of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations). For 2017, all of the cash flows generated from the exchange of the Animal Health business for the Consumer Healthcare business of Boehringer Ingelheim (BI) are described in note (i) below. |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Statement of comprehensive income [Abstract] | |||||
Net income | [1] | € 8,555 | € 4,800 | € 4,388 | [2] |
Attributable to equity holders of Sanofi | [1] | 8,434 | 4,709 | 4,287 | [2] |
Attributable to non-controllinginterests | [1] | 121 | 91 | 101 | [2] |
Other comprehensive income: | |||||
Actuarial gains/(losses) | (28) | (106) | 652 | ||
Tax effects | (90) | (22) | (187) | ||
Items not subsequently reclassifiable to profit or loss | (118) | (128) | 465 | ||
Available-for-salefinancial assets | 838 | (105) | (37) | ||
Cash flow hedges | (24) | 31 | (3) | ||
Change in currency translation differences | (3,240) | 1,090 | 1,915 | ||
Tax effects | (137) | 40 | 20 | ||
Sub-total: items subsequently reclassifiable to profit or loss | (2,563) | 1,056 | 1,895 | ||
Other comprehensive income for the period, net of taxes (a+b) | (2,681) | 928 | 2,360 | ||
Comprehensive income | 5,874 | 5,728 | 6,748 | ||
Comprehensive income, attributable to equity holders of Sanofi | 5,768 | 5,634 | 6,641 | ||
Comprehensive income, attributable to non-controlling interests | € 106 | € 94 | € 107 | ||
[1] | The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36. | ||||
[2] | Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.). |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity - EUR (€) € in Millions | Total | Share Capital [Member] | Additional Paid-in Capital and Retained Earnings [Member] | Treasury Shares [Member] | Stock Options and Other Share-based Payment [Member] | Other Comprehensive Income [Member] | Attributable to Equity Holders of Sanofi [Member] | Attributable to Non-controlling Interests [Member] | ||
Balance, beginning of period at Dec. 31, 2014 | € 56,268 | € 2,639 | € 52,553 | € (694) | € 2,599 | € (977) | € 56,120 | € 148 | ||
Other comprehensive income for the period | 2,360 | 465 | 1,889 | 2,354 | 6 | |||||
Net income for the period | 4,388 | [1],[2] | 4,287 | 4,287 | 101 | |||||
Comprehensive income for the period | 6,748 | 4,752 | 1,889 | 6,641 | 107 | |||||
Dividend paid out of 2014 (€2.85 per share), 2015 (€2.93 per share) and 2016 (€2.96 per share) earnings | (3,694) | (3,694) | (3,694) | |||||||
Payment of dividends to non-controlling interests | (110) | (110) | ||||||||
Share repurchase program (a) | [3] | (1,781) | (1,781) | (1,781) | ||||||
Reduction in share capital (a) | [3] | (52) | (2,124) | 2,176 | ||||||
Share-based payment plans: | ||||||||||
Exercise of stock options(a) | [3] | 573 | 18 | 555 | 573 | |||||
Issuance of restricted shares(a) | [3] | 6 | (6) | |||||||
Proceeds from sale of treasury shares on exercise of stock options | 1 | 1 | 1 | |||||||
Value of services obtained from employees | 205 | 205 | 205 | |||||||
Tax effects of the exercise of stock options | 10 | 10 | 10 | |||||||
Change in non-controlling interests without loss of control | (10) | (26) | (26) | 16 | ||||||
Balance, end of period at Dec. 31, 2015 | 58,210 | 2,611 | 52,010 | (298) | 2,814 | 912 | 58,049 | 161 | ||
Other comprehensive income for the period | 928 | (127) | 1,052 | 925 | 3 | |||||
Net income for the period | 4,800 | [2] | 4,709 | 4,709 | 91 | |||||
Comprehensive income for the period | 5,728 | 4,582 | 1,052 | 5,634 | 94 | |||||
Dividend paid out of 2014 (€2.85 per share), 2015 (€2.93 per share) and 2016 (€2.96 per share) earnings | (3,759) | (3,759) | (3,759) | |||||||
Payment of dividends to non-controlling interests | (110) | (110) | ||||||||
Share repurchase program (a) | [3] | (2,905) | (2,905) | (2,905) | ||||||
Reduction in share capital (a) | [3] | (45) | (1,655) | 1,700 | ||||||
Share-based payment plans: | ||||||||||
Exercise of stock options(a) | [3] | 219 | 7 | 212 | 219 | |||||
Issuance of restricted shares(a) | [3] | 7 | (7) | |||||||
Employee share ownership plan(a) | [3] | 100 | 4 | 96 | 100 | |||||
Value of services obtained from employees | 227 | 227 | 227 | |||||||
Tax effects of the exercise of stock options | (9) | (9) | (9) | |||||||
Change in non-controlling interests without loss of control | 25 | (2) | (2) | 27 | ||||||
Change in non-controlling interests arising from divestment | (2) | (2) | ||||||||
Balance, end of period at Dec. 31, 2016 | 57,724 | 2,584 | 51,477 | (1,503) | 3,032 | 1,964 | 57,554 | 170 | ||
Other comprehensive income for the period | (2,681) | (117) | (2,549) | (2,666) | (15) | |||||
Net income for the period | 8,555 | [2] | 8,434 | 8,434 | 121 | |||||
Comprehensive income for the period | 5,874 | 8,317 | (2,549) | 5,768 | 106 | |||||
Dividend paid out of 2014 (€2.85 per share), 2015 (€2.93 per share) and 2016 (€2.96 per share) earnings | (3,710) | (3,710) | (3,710) | |||||||
Payment of dividends to non-controlling interests | (99) | (99) | ||||||||
Share repurchase program (a) | [3] | (2,159) | (2,159) | (2,159) | ||||||
Reduction in share capital (a) | [3] | (94) | (3,554) | 3,648 | ||||||
Share-based payment plans: | ||||||||||
Exercise of stock options(a) | [3] | 223 | 8 | 215 | 223 | |||||
Issuance of restricted shares(a) | [3] | 7 | (7) | |||||||
Employee share ownership plan(a) | [3] | 106 | 3 | 103 | 106 | |||||
Value of services obtained from employees | 263 | 263 | 263 | |||||||
Tax effects of the exercise of stock options | 3 | 3 | 3 | |||||||
Other changes arising from issuance of restricted shares (b) | [4] | 16 | 16 | 16 | ||||||
Change in non-controlling interests without loss of control | 24 | 25 | 25 | (1) | ||||||
Change in non-controlling interests arising from divestment | (7) | (7) | ||||||||
Balance, end of period at Dec. 31, 2017 | € 58,258 | € 2,508 | € 52,882 | € (14) | € 3,298 | € (585) | € 58,089 | € 169 | ||
[1] | Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.). | |||||||||
[2] | The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36. | |||||||||
[3] | See Notes D.15.1., D.15.3., D.15.4. and D.15.5. | |||||||||
[4] | Issuance of restricted shares to former employees of the Animal Health business subsequent to the date of divestment. |
Consolidated Statements of Cha6
Consolidated Statements of Changes in Equity (Parenthetical) - € / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Statement of changes in equity [Abstract] | |||
Dividend paid per share | € 2.96 | € 2.93 | € 2.85 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Statement of cash flows [Abstract] | |||||
Net income attributable to equity holders of Sanofi | [1] | € 8,434 | € 4,709 | € 4,287 | |
Net (income)/loss of the exchanged/held-for-exchange Animal Health business | [1],[2] | (4,643) | (314) | 124 | [3] |
Non-controlling interests, excluding BMS(b) | [1],[4] | 38 | 5 | 7 | |
Share of undistributed earnings from investments accounted for using the equity method | [1] | (66) | (83) | 115 | |
Depreciation, amortization and impairment of property, plant and equipment and intangible assets | [1] | 3,686 | 3,301 | 4,276 | |
Gains and losses on disposals of non-currentassets, net of tax(c) | [1],[5] | (97) | (244) | (136) | |
Net change in deferred taxes | [1] | (909) | (542) | (1,253) | |
Net change in non-current provisions and other non-currentliabilities(d) | [1],[6] | 321 | 20 | (13) | |
Cost of employee benefits (stock options and other share-based payments) | [1] | 263 | 241 | 193 | |
Impact of the workdown of acquired inventories remeasured at fair value | [1] | 166 | |||
Unrealized (gains)/losses recognized in income | [1] | 38 | (83) | (365) | |
Operating cash flow before changes in working capital and excluding the exchanged/held-for-exchange Animal Health business | [1] | 7,231 | 7,010 | 7,235 | |
(Increase)/decrease in inventories | [1] | (145) | (323) | (466) | |
(Increase)/decrease in accounts receivable | [1] | (529) | 168 | (493) | |
Increase/(decrease) in accounts payable | [1] | 577 | 447 | 241 | |
Net change in other current assets and other current liabilities | [1] | 245 | 536 | 1,773 | |
Net cash provided by/(used in) operating activities excluding the exchanged/held-for-exchange Animal Health business(e) | [1],[7] | 7,379 | 7,838 | 8,290 | |
Net cash provided by/(used in) operating activities of the exchanged/held-for-exchange Animal Health business | [1] | 346 | 630 | ||
Acquisitions of property, plant and equipment and intangible assets | [1] | (1,956) | (2,083) | (2,772) | |
Acquisitions of investments in consolidated undertakings and investments accounted for using the equity method(f)/(h) | [1],[8],[9] | (1,151) | (426) | (220) | |
Acquisitions of available-for-sale financial assets | [1] | (161) | (208) | (142) | |
Proceeds from disposals of property, plant and equipment, intangible assets and other non-current assets, net of tax(g) | [1],[10] | 535 | 209 | 211 | |
Net change in loans and other financial assets | [1] | (163) | (3) | (88) | |
Net cash provided by/(used in) investing activities excluding the exchanged/held-for-exchangeAnimal Health business | [1] | (2,896) | (2,511) | (3,011) | |
Net cash provided by/(used in) investing activities of the exchanged/held-for-exchangeAnimal Health business | [1] | (126) | (246) | ||
Net cash inflow from the exchange of the Animal Health business for BI's Consumer Healthcare business(i) | [1],[11] | 3,535 | |||
Issuance of Sanofi shares | [1] | 319 | 305 | 573 | |
to shareholders of Sanofi | [1] | (3,710) | (3,759) | (3,694) | |
to non-controlling interests, excluding BMS (b) | [1],[4] | (15) | (21) | (12) | |
Payments received/(made) on changes of ownership interest in a subsidiary without loss of control | [1] | (37) | (11) | (8) | |
Additional long-term debt contracted | [1] | 41 | 4,773 | 2,253 | |
Repayments of long-term debt | [1] | (2,368) | (2,576) | (708) | |
Net change in short-term debt | [1] | 30 | 96 | (199) | |
Acquisitions of treasury shares | [1] | (2,162) | (2,908) | (1,784) | |
Disposals of treasury shares, net of tax | [1] | 1 | |||
Net cash provided by/(used in) financing activities excluding the exchanged/held-for-exchangeAnimal Health business | [1] | (7,902) | (4,101) | (3,578) | |
Net cash provided by/(used in) financing activities of the exchanged/held-for-exchangeAnimal Health business | [1] | 111 | (23) | ||
Impact of exchange rates on cash and cash equivalents | [1] | (74) | (101) | (232) | |
Impact on cash and cash equivalents of the reclassification of the Animal Health business to "Assets held for sale or exchange"(j) | [1],[12] | (23) | |||
Net change in cash and cash equivalents | [1] | 42 | 1,125 | 1,807 | |
Cash and cash equivalents, beginning of period | [1] | 10,273 | 9,148 | 7,341 | |
Cash and cash equivalents, end of period | [1] | € 10,315 | € 10,273 | 9,148 | |
Net change in cash and cash equivalents excluding the Animal Health business (2015) | [1] | 1,469 | |||
Net change in cash and cash equivalents of the Animal Health business (2015) | [1] | € 361 | |||
[1] | For 2015 and 2016, cash flows of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations). For 2017, all of the cash flows generated from the exchange of the Animal Health business for the Consumer Healthcare business of Boehringer Ingelheim (BI) are described in note (i) below. | ||||
[2] | The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36. | ||||
[3] | Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.). | ||||
[4] | See Note C.2. to the financial statements for the year ended December 31, 2017. | ||||
[5] | Includes available-for-sale financial assets. | ||||
[6] | This line item includes contributions paid to pension funds (see Note D.19.1.). | ||||
[7] | Including: 2017 2016 2015 ∎ Income tax paid (1,734) (2,096) (1,706) ∎ Interest paid (excluding cash flows on derivative instruments used to hedge debt) (347) (401) (404) ∎ Interest received (excluding cash flows on derivative instruments used to hedge debt) 56 56 57 ∎ Dividends received from non-consolidated entities 8 9 9 | ||||
[8] | The main cash effect of the exchange of the Animal Health business for BI's Consumer Healthcare business was the receipt by Sanofi of a balancing cash payment of €4,207 million. Consequently, all of the cash flows arising from this exchange transaction during 2017 are presented in a separate line item, Net cash inflow from the exchange of the Animal Health business for BI's Consumer Healthcare business (see Note D.1.). | ||||
[9] | This line item includes payments made in respect of contingent consideration identified and recognized as a liability in business combinations. | ||||
[10] | This line item includes proceeds from disposals of investments in consolidated entities and of other non-current financial assets. | ||||
[11] | For the year ended December 31, 2017, this line item comprises (i) the receipt by Sanofi of a balancing cash payment of €4,207 million; (ii) reimbursements of intragroup accounts with Merial entities totaling €967 million; (iii) payment of €1,784 million of tax due on the gain arising from the divestment; and (iv) the cash held by the BI subsidiaries acquired by Sanofi. The total consideration for the sale of the Animal Health business to BI was €10,557 million (see Note D.36.), and the consideration for the acquisition of BI's Consumer Healthcare business was €6,239 million (see Note D.1.). | ||||
[12] | Cash and cash equivalents of the Animal Health business are presented within the line item Assets held for sale or exchange for the years ended December 31, 2015 and 2016. |
Consolidated Statements of Cas8
Consolidated Statements of Cash Flows (Parenthetical) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Statement of cash flows [Abstract] | |||
Income tax paid | € (1,734) | € (2,096) | € (1,706) |
Interest paid (excluding cash flows on derivative instruments used to hedge debt) | (347) | (401) | (404) |
Interest received (excluding cash flows on derivative instruments used to hedge debt) | 56 | 56 | 57 |
Dividends received from non-consolidated entities | 8 | € 9 | € 9 |
Balancing cash payment received by Sanofi | 4,207 | ||
Reimbursements of intragroup accounts with Merial entities | 967 | ||
Tax payment due on on gain arising from the divestment | 1,784 | ||
Consideration for sale of business | 10,557 | ||
Consideration for acquisition of business | € 6,239 |
Notes to the Consolidated Finan
Notes to the Consolidated Financial Statements | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Notes to the Consolidated Financial Statements | NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS INTRODUCTION Sanofi, together with its subsidiaries (collectively “Sanofi” or “the Company”), is a global healthcare leader engaged in the research, development and marketing of therapeutic solutions focused on patient needs. Sanofi is listed in Paris (Euronext: SAN) and New York (NYSE: SNY). The consolidated financial statements for the year ended December 31, 2017, and the notes thereto, were signed off by the Sanofi Board of Directors on February 7, 2018. |
International Financial Reporti
International Financial Reporting Standards (IFRS) | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
International Financial Reporting Standards (IFRS) | A.1. International financial reporting standards (IFRS) The consolidated financial statements cover the twelve-month periods ended December 31, 2017, 2016 and 2015. In accordance with Regulation No. 1606/2002 of the European Parliament and Council of July 19, 2002 on the application of international accounting standards, Sanofi has presented its consolidated financial statements in accordance with IFRS since January 1, 2005. The term “IFRS” refers collectively to international accounting and financial reporting standards (IASs and IFRSs) and to interpretations of the interpretations committees (SIC and IFRIC) with mandatory application as of December 31, 2017. The consolidated financial statements of Sanofi as of December 31, 2017 have been prepared in compliance with IFRS as issued by the International Accounting Standards Board (IASB) and with IFRS as endorsed by the European Union as of December 31, 2017. IFRS as endorsed by the European Union as of December 31, 2017 are available under the heading “IFRS Financial Statements” via the following web link: https://www.efrag.org/Endorsement. The consolidated financial statements have been prepared in accordance with the IFRS general principles of fair presentation, going concern, accrual basis of accounting, consistency of presentation, materiality, and aggregation. |
New Standards, Amendments and I
New Standards, Amendments and Interpretations | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
New Standards, Amendments and Interpretations | A.2. New standards, amendments and interpretations A.2.1. New standards, amendments and interpretations applicable in 2017 The new standards, amendments to standards, and interpretations that are mandatorily applicable with effect from the 2017 financial year have no material impact on the financial statements, or on their presentation. In accordance with the amendment to IAS 7 (Statement of Cash Flows), with effect from the year ended December 31, 2017 Sanofi discloses changes in debt arising from financing activities, showing cash and non-cash A.2.2. New pronouncements issued by the IASB and applicable from 2018 or later The note below describes standards, amendments and interpretations issued by the IASB that will have mandatory application in 2018 or subsequent years, and Sanofi’s position regarding future application. Sanofi has not early adopted any of those standards, amendments or interpretations. A.2.2.1. Standards At the end of May 2014 the IASB issued IFRS 15 (Revenue from Contracts with Customers). IFRS 15 is a converged standard common to both IFRS and US generally accepted accounting principles (US GAAP), and replaces IAS 18 (Revenue) and IAS 11 (Construction Contracts) with effect from January 1, 2018. In April 2016 the IASB issued clarifications (amendments to IFRS 15 applicable from January 1, 2018) on how to (i) identify a performance obligation, (ii) determine whether a company is a principal or an agent, and (iii) account for the revenue from granting a license. IFRS 15 includes new revenue recognition principles, in particular as regards identifying a performance obligation and allocating the transaction price in the case of contracts with multiple components. It also changes how contracts are analyzed in the case of revenue generated by licensing arrangements, and how variable consideration is recognized. The standard also contains new disclosure requirements. To date, the conclusions of our analysis of the impacts of first-time application in 2018 of IFRS 15 are as follows: ∎ Revenue recognized within Net sales sales-based ∎ Other revenues ∎ Other operating income co-promotion non-financial ∎ Share of profits or losses from investments accounted for using the equity method: Sanofi will apply IFRS 15 with effect from January 1, 2018, using the full retrospective method of adoption: the opening balance of equity at the start of the first period presented (January 1, 2016) will be adjusted to reflect the cumulative impact of applying IFRS 15, and comparative information for the years ended December 31, 2016 and 2017 will be presented in accordance with IFRS 15. Consequently, in the financial statements for the year ended December 31, 2018 all periods will be presented as though IFRS 15 had always been applied. The adjustments to net sales for the years ended December 31, 2016 and 2017 are regarded as immaterial. In July 2014 the IASB issued IFRS 9 (Financial Instruments). With effect from January 1, 2018, IFRS 9 replaces the currently applicable standards on the presentation, recognition and measurement of financial instruments (IAS 39). To date, the conclusions of our analysis of the impacts of first-time application in 2018 of IFRS 9 are as follows: ∎ Classification and measurement of financial assets IFRS 9 alters the main accounting categories used for financial assets. Financial assets held by Sanofi that are classified as “available-for-sale” In accordance with paragraph B5.2.3 of IFRS 9, Sanofi will continue to use acquisition cost as an appropriate estimate of the fair value of certain investments in unquoted companies. That method will cease to be used if any of the indicators listed in paragraphs B5.2.4 and B5.2.5 of IFRS 9 become apparent. ∎ Classification and measurement of financial liabilities In October 2017, the IASB issued an amendment to IFRS 9 clarifying the treatment of modifications of financial liabilities. Because Sanofi does not enter into transactions of that type, first-time application of the amendment will have no impact on the consolidated financial statements. ∎ Impairment The new credit risk recognition model based on expected losses changes the way in which allowances for impairment of accounts receivable are calculated, in that receivables that are not yet past due must be included in the base used to calculate the allowance. Sanofi sells medicines and vaccines to wholesalers, public authorities, hospitals, clinics, pharmacies, and non governmental organizations (NGOs). Given the nature of the accounts receivable recognized by Sanofi and the associated guarantees entered into, IFRS 9 does not materially alter the amount of allowances for impairment of accounts receivable. ∎ Hedge accounting IFRS 9 does not alter the way in which Sanofi currently accounts for hedging transactions. Such transactions are carried out as part of our policies on foreign exchange and interest rate risk hedging. At this stage of our analyses the amount of the adjustment to be recognized within equity is estimated to be immaterial. Sanofi will apply IFRS 9 with effect from January 1, 2018. Under the transitional provisions of IFRS 9, only financial instruments held as of January 1, 2018 require retrospective application; presentation of comparatives is optional. Sanofi will decide which option to elect during the first half of 2018. In January 2016 the IASB issued IFRS 16 (Leases), which aligns the accounting treatment of operating leases with that already applied to finance leases (i.e. recognition in the balance sheet of a liability for future lease payments, and of an asset for the associated rights of use). The first-time application of IFRS 16 will also lead to a change in presentation: ∎ In the income statement: the rental expense currently recognized as a component of Operating income Operating income Financial expenses ∎ In the statement of cash flows: the rental payments currently presented within Net cash provided by/(used in) operating activities Net cash provided by/(used in) financing activities IFRS 16 is applicable to annual reporting periods beginning on or after January 1, 2019. Most of the leases contracted by Sanofi are operating leases in which Sanofi is the lessee. The main assets leased are office premises, cars, and computer hardware. An impact assessment is ongoing. For information, Sanofi’s obligations under non-cancelable In addition, some supply and service contracts are also being assessed. Sanofi’s IFRS 16 project is being led by a team composed of representatives from the various support functions affected (purchasing, real estate, information systems, finance, shared services). The assessment continued throughout 2017, looking at three key topics: identification and analysis of contracts, selection of IT application, and implementation methods. Sanofi has not elected to early adopt IFRS 16. As regards the method of first-time application, Sanofi has yet to make a decision. IFRS 16 may be applied either as of January 1, 2019 without restatement of comparative periods if the simplified transition option is elected, or as of January 1, 2017 with the 2017 and 2018 comparative periods restated under IFRS 16 if the retrospective transition option is elected. A.2.2.2. Amendments, annual improvements and interpretations Sanofi does not expect a material impact from the application of: ∎ IFRIC 22 (Foreign Currency Transactions and Advance Consideration), issued in December 2016 and applicable from 2018 onwards; and ∎ IFRIC 23 (Uncertainty over Income Tax Treatments), issued in June 2017 and applicable from 2019 onwards. The other amendments issued, whether within or outside the 2014-2016 Annual Improvements cycle (IFRS 2 – various clarifications, IAS 28 – long-term interests in associates and joint ventures, etc), will have no impact on Sanofi’s financial statements. |
Use of Estimates and Judgments
Use of Estimates and Judgments | 12 Months Ended |
Dec. 31, 2017 | |
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Use of Estimates and Judgments | A.3. Use of estimates and judgments The preparation of financial statements requires management to make reasonable estimates and assumptions based on information available at the date of the finalization of the financial statements. Those estimates and assumptions may affect the reported amounts of assets, liabilities, revenues and expenses in the financial statements, and disclosures of contingent assets and contingent liabilities as of the date of the review of the financial statements. Examples of estimates and assumptions include: ∎ amounts deducted from sales for projected sales returns, chargeback incentives, rebates and price reductions (see Notes B.13.1. and D.23.); ∎ impairment of property, plant and equipment, intangible assets, and investments accounted for using the equity method (see Notes B.6. and D.5.); ∎ the valuation of goodwill and the valuation and useful life of acquired intangible assets (see Notes B.3.2., B.4.3., D.4. and D.5.); ∎ the measurement of contingent consideration receivable in connection with asset divestments (see Notes B.8.6. and D.7.); ∎ the amount of post-employment benefit obligations (see Notes B.23. and D.19.1.); ∎ the amount of provisions for restructuring, litigation, tax risks and environmental risks (see Notes B.12., B.19., B.20., B.22., D.19. and D.22.); ∎ the amount of deferred tax assets resulting from tax losses available for carry-forward ∎ the direct and indirect impacts recorded in 2017 of the US tax reform (Tax Cuts and Jobs Act of 2017), including the estimated tax charge on deemed repatriation that is attributable to the accumulated earnings of non-US operations. The estimate of such tax charge will be finalized based on further analysis and, as the case may be, computations taking into account any future clarifications and supplementary guidance issued by the US Congress, the US Internal Revenue Service, the US Securities and Exchange Commission or other regulators. ∎ the measurement of contingent consideration (see Notes B.3. and D.18.); and ∎ which exchange rate to use at the end of the reporting period for the translation of accounts denominated in foreign currencies, and of financial statements of foreign subsidiaries, in cases where more than one exchange rate exists for a given currency (see Note A.4.). Actual results could differ from these estimates. Management is also required to exercise judgment in assessing whether the criteria specified in IFRS 5 (Non-Current non-current |
Consolidation and Foreign Curre
Consolidation and Foreign Currency Translation of the Financial Statements of Venezuelan Subsidiaries | 12 Months Ended |
Dec. 31, 2017 | |
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Consolidation and Foreign Currency Translation of the Financial Statements of Venezuelan Subsidiaries | A.4. Consolidation and foreign currency translation of the financial statements of Venezuelan subsidiaries Sanofi continues to account for subsidiaries based in Venezuela using the full consolidation method, on the basis that the criteria for control as specified in IFRS 10 (Consolidated Financial Statements) are still met. Prior to 2016, the Venezuelan foreign exchange system consisted of three exchange rates: (i) the “CENCOEX” rate, set at a fixed rate of 6.3 bolivars per US dollar and restricted to essential goods; (ii) an administered exchange rate (the “SICAD” rate), which was 13.5 bolivars per US dollar as of December 31, 2015 and applied to certain specific business sectors; and (iii) the “SIMADI” rate, of approximately 200 bolivars per US dollar, applied to specified transactions. In preparing the consolidated financial statements, the financial statements of the Venezuelan subsidiaries were translated into euros using the “SICAD” official exchange rate, which was the estimated rate at which the profits generated by the operations of those subsidiaries would be remitted to the parent. In February 2016, the Venezuelan government reformed the foreign exchange system, which from that date had two exchange rates that applied to two categories of goods: ∎ a first category for essential goods to which was applied the “DIPRO” rate, set at a fixed exchange rate of 10 bolivars per US dollar; ∎ a second category to which was applied the “DICOM” rate, which was a floating exchange rate against the US dollar that initially stood at 206 bolivars per US dollar and was approximately 3,345 bolivars per US dollar as of December 31, 2017. In light of those changes to the foreign exchange system, recent economic and political developments and the scarcity of US dollar cash in Venezuela, Sanofi changed the exchange rate used to translate its Venezuelan operations and from 2016 onwards has applied the “DICOM” rate. This change led to the recognition of a foreign exchange loss of € The Venezuelan subsidiaries made an immaterial contribution to net sales in 2017 ( € € € € € At the end of January 2018 the Venezuelan government made further changes to the foreign exchange system, abolishing the “DIPRO” rate of 10 bolivars per US dollar. The “DICOM” rate must now be used for all foreign currency transactions. |
Change in the Operational Struc
Change in the Operational Structure of Sanofi | 12 Months Ended |
Dec. 31, 2017 | |
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Change in the Operational Structure of Sanofi | A.5. Change in the operational structure of Sanofi Sanofi acquired the Consumer Healthcare operations of Boehringer Ingelheim (BI) on January 1, 2017, and during 2017 gradually integrated those operations into its Consumer Healthcare Global Business Unit (GBU). Following completion of the integration process and with effect from December 31, 2017, Sanofi has identified the Consumer Healthcare business as an operating segment, the financial information for which is reported separately to, and reviewed separately by, the Chief Executive Officer. Until that date, the results of the Consumer Healthcare business were included in the Pharmaceuticals segment. In addition, during 2017 Sanofi finalized a complete realignment of its internal management reporting to match its organizational structure. As a result, the costs of Sanofi’s global functions (Medical Affairs, External Affairs, Finance, Human Resources, Legal Affairs, Information Solutions & Technologies, Sanofi Business Services, etc.) are now managed centrally at group-wide level and are no longer allocated to operating segments for internal management reporting purposes. For the year ended December 31, 2017 and subsequent years, the costs of those functions are presented within the “Other” category. That category also includes other reconciling items such as retained commitments in respect of divested activities. Sanofi has amended the presentation of its segment information accordingly (see Note D.35.), and now performs impairment testing of goodwill at the level of three Cash Generating Units (CGUs): Pharmaceuticals, Consumer Healthcare and Human Vaccines (see Note D.5.). |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
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Summary of Significant Accounting Policies | B/ Summary of significant accounting policies B.1. Basis of consolidation In accordance with IFRS 10 (Consolidated Financial Statements), the consolidated financial statements of Sanofi include the financial statements of entities that Sanofi controls directly or indirectly, regardless of the level of the equity interest in those entities. An entity is controlled when Sanofi has power over the entity, exposure or rights to variable returns from its involvement with the entity, and the ability to affect those returns through its power over the entity. In determining whether control exists, potential voting rights must be taken into account if those rights are substantive, in other words they can be exercised on a timely basis when decisions about the relevant activities of the entity are to be taken. Entities consolidated by Sanofi are referred to as “subsidiaries”. Entities that Sanofi controls by means other than voting rights are referred to as “consolidated structured entities”. In accordance with IFRS 11 (Joint Arrangements), Sanofi classifies its joint arrangements (i.e. arrangements in which Sanofi exercises joint control with one or more other parties) either as a joint operation or a joint venture. In the case of a joint operation, Sanofi recognizes the assets and liabilities of the operation in proportion to its rights and obligations relating to those assets and liabilities. Joint ventures are accounted for using the equity method. Sanofi exercises joint control over a joint arrangement when decisions relating to the relevant activities of the arrangement require the unanimous consent of Sanofi and the other parties with whom control is shared. Sanofi exercises significant influence over an entity when it has the power to participate in the financial and operating policy decisions of that entity, but does not have the power to exercise control or joint control over those policies. In accordance with IAS 28 (Investments in Associates and Joint Ventures), the equity method is used to account for joint ventures (i.e. entities over which Sanofi exercises joint control) and for associates (i.e. entities over which Sanofi exercises significant influence). Under the equity method, the investment is initially recognized at cost, and subsequently adjusted to reflect changes in the net assets of the associate or joint venture. IAS 28 does not specify the treatment to be adopted on first-time application of the equity method to an investee following a step acquisition. Consequently, by reference to paragraph 10 of IAS 28, Sanofi has opted to apply the cost method, whereby the carrying amount of the investment represents the sum of the historical cost amounts for each step in the acquisition. As of the date on which the equity method is first applied, goodwill (which is included in the carrying amount of the investment) is determined for each acquisition step. The same applies to subsequent increases in the percentage interest in the equity-accounted investment. When the criteria of IFRS 5 are met, Sanofi recognizes the equity interest within the balance sheet line item Assets held for sale or exchange held-for-sale Transactions between consolidated companies are eliminated, as are intragroup profits. A list of the principal companies included in the consolidation in 2017 is presented in Note F. B.2. Foreign currency translation B.2.1. Accounting for foreign currency transactions in the financial statements of consolidated entities Non-current Monetary assets and liabilities denominated in foreign currencies are translated using the exchange rate prevailing at the end of the reporting period. The gains and losses resulting from foreign currency translation are recorded in the income statement. However, foreign exchange gains and losses arising from the translation of advances between consolidated subsidiaries for which settlement is neither planned nor likely to occur in the foreseeable future are recognized in equity, in the line item Change in currency translation differences B.2.2. Foreign currency translation of the financial statements of foreign entities Sanofi presents its consolidated financial statements in euros ( € All assets and liabilities are translated into euros using the exchange rate of the subsidiary’s functional currency prevailing at the end of the reporting period. Income statements are translated using a weighted average exchange rate for the period, except in the case of foreign subsidiaries in a hyperinflationary economy. The resulting currency translation difference is recognized as a separate component of equity in the consolidated statement of comprehensive income, and is recognized in the income statement only when the subsidiary is sold or is wholly or partially liquidated. B.3. Business combinations and transactions with non-controlling B.3.1. Accounting for business combinations, transactions with non-controlling Business combinations are accounted for in accordance with IFRS 3 (Business Combinations) and IFRS 10 (Consolidated Financial Statements). Business combinations are accounted for using the acquisition method. Under this method, the acquiree’s identifiable assets and liabilities that satisfy the recognition criteria of IFRS 3 (Business Combinations) are measured initially at their fair values as at the date of acquisition, except for (i) non-current The principal accounting rules applicable to business combinations and transactions with non-controlling ∎ Acquisition-related Operating income ∎ Contingent consideration is recognized in equity if the contingent payment is settled by delivery of a fixed number of the acquirer’s equity instruments; otherwise, it is recognized in Liabilities related to business combinations Fair value remeasurement of contingent consideration pre-revision ∎ In the case of a step acquisition, the previously-held equity interest is remeasured at its acquisition-date fair value. The difference between this fair value and the carrying amount is recorded in profit or loss, along with any gains or losses relating to the previously-held ∎ Goodwill may be calculated on the basis of either (i) the entire fair value of the acquiree, or (ii) a share of the fair value of the acquiree proportionate to the interest acquired. This option may be elected for each acquisition individually. ∎ The effects of (i) a buyout of non-controlling ∎ In a partial disposal resulting in loss of control, the retained equity interest is remeasured at fair value at the date of loss of control. The gain or loss recognized on the disposal includes the effect of that remeasurement, and items that were initially recognized in equity are reclassified to profit or loss. ∎ Adjustments to the values of assets and liabilities initially determined provisionally (pending the results of independent valuations or further analysis) are recognized as a retrospective adjustment to goodwill if they are made within twelve months of the acquisition date. Once this twelve-month Purchase price allocations are performed under the responsibility of management, with assistance from an independent valuer in the case of major acquisitions. The revised IFRS 3 does not specify an accounting treatment for contingent consideration arising from a business combination made by an entity prior to the acquisition of control in that entity and carried as a liability in the acquired entity’s balance sheet. The accounting treatment applied by Sanofi to such a liability is to measure it at fair value as of the acquisition date and to report it in the line item Liabilities related to business combinations and to non-controlling B.3.2. Goodwill The excess of the cost of an acquisition over Sanofi’s interest in the fair value of the identifiable assets and liabilities of the acquiree is recognized as goodwill at the date of the business combination. Goodwill arising on the acquisition of subsidiaries is shown in a separate balance sheet line item, whereas goodwill arising on the acquisition of investments accounted for using the equity method is recorded in Investments accounted for using the equity method Goodwill arising on foreign operations is expressed in the functional currency of the country concerned and translated into euros using the exchange rate prevailing at the end of the reporting period. In accordance with IAS 36 (Impairment of Assets), goodwill is carried at cost less accumulated impairment (see Note B.6.). Goodwill is tested for impairment annually and whenever events or circumstances indicate that impairment might exist. Such events or circumstances include significant changes more likely than not to have an other-than-temporary B.4. Other intangible assets Other intangible assets are initially measured at acquisition cost or production cost, including any directly attributable costs of preparing the asset for its intended use, or (in the case of assets acquired in a business combination) at fair value as of the date of the business combination. Intangible assets are amortized on a straight line basis over their useful lives. The useful lives of other intangible assets are reviewed at the end of each reporting period. The effect of any adjustment to useful lives is recognized prospectively as a change in accounting estimate. Amortization of other intangible assets is recognized in the income statement within Amortization of intangible assets internally-developed Sanofi does not own any intangible assets with an indefinite useful life, other than goodwill. Intangible assets (other than goodwill) are carried at cost less accumulated amortization and accumulated impairment, if any, in accordance with IAS 36 (see Note B.6.). B.4.1. Research and development not acquired in a business combination Internally generated research and development Under IAS 38, research expenses are recognized in profit or loss when incurred. Internally generated development expenses are recognized as an intangible asset if, and only if, all the following six criteria can be demonstrated: (a) the technical feasibility of completing the development project; (b) Sanofi’s intention to complete the project; (c) Sanofi’s ability to use the project; (d) the probability that the project will generate future economic benefits; (e) the availability of adequate technical, financial and other resources to complete the project; and (f) the ability to measure the development expenditure reliably. Due to the risks and uncertainties relating to regulatory approval and to the research and development process, the six criteria for capitalization are usually considered not to have been met until the product has obtained marketing approval from the regulatory authorities. Consequently, internally generated development expenses arising before marketing approval has been obtained, mainly the cost of clinical trials, are generally expensed as incurred within Research and development expenses Some industrial development expenses (such as those incurred in developing a second-generation Other intangible assets Other intangible assets Separately acquired research and development Payments for separately acquired research and development are capitalized within Other intangible assets Payments under research and development arrangements relating to access to technology or to databases and payments made to purchase generics dossiers are also capitalized, and amortized over the useful life of the intangible asset. Subcontracting arrangements, payments for research and development services, and continuous payments under research and development collaborations which are unrelated to the outcome of that collaboration, are expensed over the service term. B.4.2. Other intangible assets not acquired in a business combination Licenses other than those related to pharmaceutical products and research projects, in particular software licenses, are capitalized at acquisition cost, including any directly attributable cost of preparing the software for its intended use. Software licenses are amortized on a straight line basis over their useful lives for Sanofi (three to five years). Internally generated costs incurred to develop or upgrade software are capitalized if the IAS 38 recognition criteria are satisfied, and amortized on a straight line basis over the useful life of the software from the date on which the software is ready for use. B.4.3. Other intangible assets acquired in a business combination Other intangible assets acquired in a business combination which relate to in-process Other intangible assets In-process Rights to products currently marketed by Sanofi are amortized on a straight line basis over their useful lives, determined on the basis of cash flow forecasts which take into account the patent protection period of the marketed product. B.5. Property, plant and equipment Property, plant and equipment is initially measured and recognized at acquisition cost, including any directly attributable cost of preparing the asset for its intended use, or (in the case of assets acquired in a business combination) at fair value as of the date of the business combination. The component-based After initial measurement, property, plant and equipment is carried at cost less accumulated depreciation and impairment, except for land which is carried at cost less impairment. Subsequent costs are not recognized as assets unless (i) it is probable that future economic benefits associated with those costs will flow to Sanofi and (ii) the costs can be measured reliably. Borrowing costs attributable to the financing of items of property, plant and equipment, and incurred during the construction period, are capitalized as part of the acquisition cost of the item. Government grants relating to property, plant and equipment are deducted from the acquisition cost of the asset to which they relate. In accordance with IAS 17 (Leases), items of property, plant and equipment leased by Sanofi as lessee under finance leases are recognized as an asset in the balance sheet, with the related lease obligation recognized as a liability. A lease qualifies as a finance lease if it transfers substantially all of the risks and rewards of ownership of the asset to Sanofi. Assets held under finance leases are carried at the lower of the fair value of the leased asset or the present value of the minimum lease payments, and are depreciated over the shorter of the useful life of the asset or the term of the lease. The depreciable amount of items of property, plant and equipment, net of any residual value, is depreciated on a straight line basis over the useful life of the asset. The useful life of an asset is usually equivalent to its economic life. The customary useful lives of property, plant and equipment are as follows: Buildings 15 to 40 years Fixtures 10 to 20 years Machinery and equipment 5 to 15 years Other 3 to 15 years Useful lives and residual values of property, plant and equipment are reviewed annually. The effect of any adjustment to useful lives or residual values is recognized prospectively as a change in accounting estimate. Depreciation of property, plant and equipment is recognized as an expense in the income statement, in the relevant classification of expense by function. B.6. Impairment of property, plant and equipment, intangible assets, and investments accounted for using the equity method B.6.1. Impairment of property, plant and equipment and intangible assets In accordance with IAS 36 (Impairment of Assets), assets that generate separate cash flows and assets included in cash-generating units (CGUs) are assessed for impairment when events or changes in circumstances indicate that the asset or CGU may be impaired. A CGU is the smallest identifiable group of assets that generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. Under IAS 36, each CGU to which goodwill is allocated must (i) represent the lowest level within the entity at which the goodwill is monitored for internal management purposes, and (ii) not be larger than an operating segment determined in accordance with IFRS 8 (Operating Segments), before application of the IFRS 8 aggregation criteria (see Note B.26.). Quantitative and qualitative indications of impairment (primarily relating to the status of the research and development portfolio, pharmacovigilance, patent litigation, and the launch of competing products) are reviewed at the end of each reporting period. If there is any internal or external indication of impairment, Sanofi estimates the recoverable amount of the asset or CGU. Other intangible assets not yet available for use (such as capitalized in-process When there is an internal or external indication of impairment, Sanofi estimates the recoverable amount of the asset and recognizes an impairment loss if the carrying amount of the asset exceeds its recoverable amount. The recoverable amount of the asset is the higher of its fair value less costs to sell or its value in use. To determine value in use, Sanofi uses estimates of future cash flows generated by the asset or CGU, prepared using the same methods as those used in the initial measurement of the asset or CGU on the basis of medium-term strategic plans. In the case of goodwill, estimates of future cash flows are based on a medium-term strategic plan, an extrapolation of the cash flows beyond that plan, and a terminal value. In the case of other intangible assets, the period used is based on the economic life of the asset. Estimated cash flows are discounted at long-term market interest rates that reflect the best estimate by Sanofi of the time value of money, the risks specific to the asset or CGU, and economic conditions in the geographical regions in which the business activity associated with the asset or CGU is located. Certain assets and liabilities that are not directly attributable to a specific CGU are allocated between CGUs on a basis that is reasonable, and consistent with the allocation of the corresponding goodwill. Impairment losses arising on property, plant and equipment, on software and on certain rights are recognized in the relevant classification of expense by function. Impairment losses arising on other intangible assets are recognized within Impairment of intangible assets B.6.2. Impairment of investments accounted for using the equity method In accordance with IAS 28 (Investments in Associates and Joint Ventures), Sanofi applies the criteria specified in IAS 39 (Financial Instruments: Recognition and Measurement) to determine whether investments accounted for using the equity method may be impaired (see Note B.8.2.). If an investment is impaired, the amount of the impairment loss is determined by applying IAS 36 (see Note B.6.1.) and recognized in Share of profit/(loss) from investments accounted for using the equity method B.6.3. Reversals of impairment losses charged against property, plant and equipment, intangible assets, and investments accounted for using the equity method At the end of each reporting period, Sanofi assesses whether events or changes in circumstances indicate that an impairment loss recognized in a prior period in respect of an asset (other than goodwill) or an investment accounted for using the equity method can be reversed. If this is the case, and the recoverable amount as determined based on the revised estimates exceeds the carrying amount of the asset, Sanofi reverses the impairment loss only to the extent of the carrying amount that would have been determined had no impairment loss been recognized for the asset. Reversals of impairment losses in respect of other intangible assets are recognized within the income statement line item Impairment of intangible assets Share of profit/(loss) from investments accounted for using the equity method B.7. Assets held for sale or exchange and liabilities related to assets held for sale or exchange In accordance with IFRS 5 (Non-Current non-current Non-current ∎ the appropriate level of management must be committed to a plan to sell; ∎ an active program to locate a buyer and complete the plan must have been initiated; ∎ the asset must be actively marketed for sale at a price that is reasonable in relation to its current fair value; ∎ completion of the sale should be foreseeable within the twelve months following the date of reclassification to Assets held for sale or exchange ∎ actions required to complete the plan should indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. Before initial reclassification of the non-current Assets held for sale or exchange Subsequent to reclassification to Assets held for sale or exchange non-current non-current In a disposal of an equity interest leading to loss of control, all the assets and liabilities of the entity involved are classified as held-for-sale Assets held for sale or exchange Liabilities related to assets held for sale or exchange The profit or loss generated by a held-for-sale ∎ represents a separate major line of business or geographical area of operations; or, ∎ is part of a single coordinated plan to dispose of a separate major line of business or geographical area of operations; or, ∎ is a subsidiary acquired exclusively with a view to resale. In accordance with IFRS 10, transactions between companies that are held for sale or treated as discontinued operations and other consolidated companies are eliminated. Events or circumstances beyond Sanofi’s control may extend the period to complete the sale or exchange beyond one year without precluding classification of the asset (or disposal group) in Assets held for sale or exchange ∎ The assets and liabilities previously classified as held for sale are reclassified to the appropriate balance sheet line items, with no restatement of comparative periods. ∎ Each asset is measured at the lower of (a) its carrying amount before the asset was reclassified as held for sale, adjusted for any depreciation, amortization or revaluation that would have been recognized if the asset had not been reclassified as held for sale, or (b) its recoverable amount at the date of reclassification. ∎ The backlog of depreciation, amortization and impairment not recognized while non-current Other gains and losses, and litigation ∎ The net income of a business previously classified as discontinued or as held for sale or exchange and reported on a separate line in the income statement must be reclassified and included in net income from continuing operations, for all periods presented. ∎ In addition, segment information relating to the income statement and the statement of cash flows (acquisitions of non-current B.8. Financial instruments B.8.1. Non-derivative In accordance with IAS 39 (Financial Instruments: Recognition and Measurement) and IAS 32 (Financial Instruments: Presentation), Sanofi has adopted the following classification for non-derivative Non-derivative Classification, presentation and subsequent measurement of non-derivative Financial assets at fair value through profit or loss These assets are classified in the balance sheet within the line items Other non -current Other current assets Cash and cash equivalents Financial assets at fair value through profit or loss comprise assets held for trading (financial assets acquired principally for the purpose of reselling them in the near term, usually within less than 12 months), and financial instruments designated as fair value through profit and loss on initial recognition in accordance with the conditions for application of the fair value option. Such financial assets are carried at fair value, without any deduction for transaction costs that may be incurred on sale. Realized and unrealized gains and losses resulting from changes in the fair value of these assets are recognized in the income statement, in Financial income Financial expenses Realized and unrealized foreign exchange gains and losses on financial assets in currencies other than functional currencies are recognized in the income statement in Financial income Financial expenses Available-for-sale Available-for-sale non-derivative available-for-sale “Held-to-maturity Available-for-sale Other non -current Available-for-sale available-for-sale Financial income Financial expenses Interest income and dividends on equity instruments are recognized in the income statement within Financial income Available-for-sale Contingent consideration receivable in connection with divestments is recognized as an available-for-sale Subsequent adjustments to fair value arising from revisions to those estimates are recognized immediately in profit or loss. Interest income generated on such assets is calculated using the effective interest method, and recognized in profit or loss on an accruals basis. An impairment loss is taken against contingent consideration arising on divestments where counterparty credit risk suggests its value may have become impaired. Other adjustments to fair value, such as those arising from a change in the discount rate, are recognized in equity within the statement of comprehensive income in the period in which they occur. Held-to-maturity Held-to-maturity non-derivative Such investments are measured at amortized cost using the effective interest method. Loans and receivables Loans and receivables are non-derivative Other current assets Accounts receivable Cash and cash equivalents “Long-term Other non -current B.8.2. Impairment of non-derivative Indicators of impairment are reviewed for all non-derivative The impairment loss on loans and receivables, which are measured at amortized cost, is the difference between the carrying amount of the asset and the present value of estimated future cash flows discounted at the financial asset’s original effective interest rate. When an impairment loss is identified on an available-for-sale The impairment loss on investments in companies not quoted in an active market and measured at cost is the difference between the carrying amount of the investment and the present value of its estimated future cash flows, discounted at the current market interest rate for similar financial assets. Impairment losses in respect of loans are recognized within Financial expenses Impairment losses in respect of trade receivables are recognized within Selling and general expenses Impairment losses on equity instruments classified as available-for-sale B.8.3. Derivative instruments Derivative instruments that do not qualify for hedge accounting are initially and subsequently measured at fair value, with changes in fair value recognized in the income statement in Other operating income Financial income Financial expenses Derivative instruments that qualify for hedge accounting are measured in accordance with the hedge accounting requirements of IAS 39 (see Note B.8.4.). IFRS 13 (Fair Value Measurement) requires counterparty credit risk to be taken into account when measuring the fair value of financial instruments. This risk is estimated on the basis of observable, publicly-available statistical data. Policy on offsetting In order for a financial asset and a financial liability to be presented as a net amount in the balance sheet under IAS 32, there must be (a) a legally enforceable right to offset and (b) the intention either to settle on a net basis, or to realize the asset and settle the liability simultaneously. In addition, IFRS 7 (Financial Instruments: Disclosures) requires the notes to the financial statements to include a schedule showing a list of any offsets recognized under IAS 32 and of transactions for which only criterion (a) is met, i.e. potential offsets such as those specified in close out netting agreements (positions offset only in the event of default, as specified in the International Swaps and Derivatives Association (ISDA) standard). B.8.4. Hedging Hedging involves the use of derivative financial instruments. Changes in the fair value of such instruments are intended to offset the exposure of the hedged items to changes in fair value. As part of its overall interest rate risk and foreign exchange risk management policy, Sanofi enters into various transactions involving derivative instruments. Derivative instruments used in connection with Sanofi’s hedging policy may include forward exchange contracts, currency options, interest rate swaps and interest rate options. Derivative financial instruments qualify as hedging instruments for hedge accounting purposes when (a) at the inception of the hedge there is formal designation and documentation of the hedging relationship and of the risk management strategy and objective; (b) the hedge is expected by management to be highly effective in offsetting the risk; (c) the forecast transaction being hedged is highly probable and presents an exposure to variations in cash flows that could ultimately affect profit or loss; (d) the effectiveness of the hedge can be reliably measured; and (e) the effectiveness of the hedge is assessed on an ongoing basis and the hedge is determined actually to have been highly effective throughout the reporting periods for which the hedge was designated. The above criteria are applied when Sanofi uses derivative instruments designated as a fair value hedge, a cash flow hedge or a hedge of a net investment in a foreign operation. Fair value hedge A fair value hedge is a hedge of the exposure to changes in fair value of a recognized asset or liability or unrecognized firm commitment that could affect profit or loss. Changes in fair value of the hedging instrument and changes in fair value of the hedged item attributable to the hedged risk are recognized in the income statement, within Other operating income Financial income Financial expenses Cash flow hedge A cash flow hedge is a hedge of the exposure to variability in cash flows attributable to a particular risk associated with a recognized asset or liability, or a highly probable forecast transaction, which could affect profit or loss. Changes in fair value of the hedging instrument attributable to the effective portion of the hedge are recognized directly in equity in the consolidated statement of comprehensive income. Changes in fair value attributable to the ineffective portion of the hedge are recognized in the income statement within Other operating income Financial income Financial expenses Cumulative changes in fair value of the hedging instrument previously recognized in equity are reclassified to the income statement when the hedged transaction affects profit or loss. These transferred gains and losses are recorded within Other operating income Financial income Financial expenses When a forecast transaction results in the recognition of a non-financial When the hedging instrument expires or is sold, terminated or exercised, the cumulative gain or loss previously recognized in equity remains separately recognized in equity and is not reclassified to the income statement until the forecast transaction occurs. However, if Sanofi no longer expects the forecast transaction to occur, the cumulative gain or loss previously recognized in equity is recognized immediately in profit or loss. Hedge of a net investment in a foreign operation In a hedge of a net investment in a foreign operation, changes in the fair value of the hedging instrument attributable to the effective portion of the hedge are recognized directly in equity in the consolidated statement of comprehensive income. Changes in fair value attributable to the ineffective portion of the hedge are recognized in the income statement within Financial income Financial expenses Financial income Financial expenses Discontinuation of hedge accounting Hedge accounting is discontinued when (a) the hedging instrument expires or is sold, terminated or exercised, or (b) the hedge no longer meets the criteria for hedge accounting, or (c) Sanofi revokes the hedge designation, or (d) management no longer expects the forecast transaction to occur. B.8.5. Non-derivative Borrowings and debt Bank borrowings and debt instruments are initially measured at fair value of the consideration received, net of directly attributable transaction costs. Subsequently, they are measured at amortized cost using the effective interest method. All costs related to the issuance of borrowings or debt instruments, and all differences between the issue proceeds net of transaction costs and the value on redemption, are recognized within Financial expenses Liabilities related to business combinations and to non-controlling These line items record the fair value of (i) contingent consid |
Principal alliances
Principal alliances | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Principal alliances | C/ Principal alliances C.1. Alliance arrangements with Regeneron Pharmaceuticals Inc. (Regeneron) Collaboration agreement on the discovery, development and commercialization of human therapeutic antibodies In November 2007, Sanofi and Regeneron signed new agreements (amended in November 2009) for the discovery, development and commercialization of fully human therapeutic antibodies. Sanofi having decided not to extend the discovery agreement, that agreement expired on December 31, 2017. Under the 2009 amended agreements Sanofi committed to funding the discovery and pre-clinical If the option was exercised, Sanofi co-develops co-promotion co-developed Research and development expenses € € € co-developed Other operating income Other operating expenses Praluent ® ® ® Immuno Oncology (IO) Discovery and Development Agreement and IO Licence and Collaboration Agreement (IO LCA) On July 1, 2015, Sanofi and Regeneron entered into a new global collaboration to discover, develop and commercialize new antibody cancer treatments in the emerging field of immuno-oncology. As part of the agreements, the two companies are jointly developing a programmed cell death protein 1 (PD-1) Under the terms of the IO LCA Sanofi and Regeneron also committed to provide additional funding of no more than $650 million on a 50/50 basis ($325 million per company) for the development of REGN2810, a PD-1 one-time PD-1 PD-1 12-month post-POC Under the terms of the IO Discovery and Development Agreement, Sanofi can exercise its opt-in rights to further development and commercialization under the IO LCA for candidates derived from the discovery program. Once Sanofi has exercised its opt-in rights for a candidate, future development of that candidate will be conducted either by Sanofi or Regeneron. Where development is conducted by Sanofi, the entire cost of developing that candidate will be funded by Sanofi, and Regeneron will reimburse half of those costs, subject to a cap of 10% of Regeneron’s quarterly profits. Where development is conducted by Regeneron, the two parties will share the development costs equally. Investor agreement In January 2014, Sanofi and Regeneron amended the investor agreement that has existed between the two companies since 2007 (the “Amended Investor Agreement”). Under the terms of the amendment, Sanofi accepted various restrictions. Sanofi is bound by certain “standstill” provisions, which contractually prohibit Sanofi from seeking to directly or indirectly exert control of Regeneron or acquiring more than 30% of Regeneron’s capital stock (consisting of the outstanding shares of common stock and the shares of Class A stock). This prohibition will remain in place until the earlier of (i) the later of the fifth anniversaries of the expiration or earlier termination of the Zaltrap ® ® Sanofi has also agreed to vote as recommended by Regeneron’s Board of Directors, except that it may elect to vote proportionally with the votes cast by all of Regeneron’s other shareholders with respect to certain change-of-control As soon as it had passed the threshold of 20% ownership of the capital stock, Sanofi exercised its right under the Amended Investor Agreement to designate an independent director, who was appointed to the Board of Directors of Regeneron. The interest held by Sanofi in Regeneron has been consolidated by the equity method since April 2014. On the conditions set out in the Amended Investor Agreement entered into in January 2014, Sanofi’s right to designate a Regeneron board member was contingent on Sanofi maintaining its percentage share of Regeneron’s outstanding capital stock (measured on a quarterly basis) at a level no lower than the highest percentage level previously achieved, with the maximum requirement capped at 25%. In addition, Sanofi’s interest in Regeneron was subject to a lock-up clause. Those limitations have been amended by the letter agreement of January 2018 (see Note G/). In November 2015, the Independent Designee (as defined in the Amended Investor Agreement) designated by Sanofi as an independent director resigned from the Regeneron Board of Directors. At Sanofi’s request, pursuant to the Amended Investor Agreement, Regeneron appointed N. Anthony “Tony” Coles, M.D. to its Board of Directors in January 2017 as a successor Sanofi designee. The Amended Investor Agreement also gives Sanofi the right to receive certain reasonable information as may be agreed upon by the parties and which will facilitate Sanofi’s ability to account for its investment in Regeneron using the equity method of accounting under IFRS. These three agreements were amended in January 2018 (see Note G/). C.2. Alliance arrangements with Bristol-Myers Squibb (BMS) Two of Sanofi’s leading products were jointly developed with BMS: the anti-hypertensive agent irbesartan (Aprovel ® ® ® ® ® On September 27, 2012, Sanofi and BMS signed an agreement relating to their alliance following the loss of exclusivity of Plavix ® ® ® Under the terms of this agreement, which took effect on January 1, 2013, BMS returned to Sanofi its rights to Plavix ® ® ® ® ® ® ® ® non-controlling ® In all of the territories managed by Sanofi (including the United States and Puerto Rico for Avapro ® ® Net income attributable to non-controlling In the territory managed by BMS (United States and Puerto Rico for Plavix ® Share of profit/(loss) from investments accounted for using the equity method |
Exchange of the Animal Health b
Exchange of the Animal Health business | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Exchange of the Animal Health business | D.1. Exchange of the Animal Health business Further to the exclusivity agreement of December 2015 on a future exchange of Sanofi’s Animal Health business (Merial) and Boehringer Ingelheim’s Consumer Healthcare (CHC) business, the two groups announced on June 27, 2016 that they had successfully concluded the negotiations ongoing since the end of 2015 by signing contracts to secure the deal. Consequently, and as required by IFRS 5 (see Note B.7.), all assets of the Animal Health business included in the exchange and all liabilities directly related to those assets were classified in the line items Assets held for sale or exchange Liabilities related to assets held for sale or exchange Net income/(loss) of the exchanged/held-for-exchange business For detailed information about the contribution of the Animal Health business to the consolidated financial statements refer to Note D.36., “Exchanged/Held-for-Exchange Finalization of the exchange of Sanofi’s Animal Health business for Boehringer Ingelheim’s CHC business On January 1, 2017, Sanofi finalized the exchange of its Animal Health business for Boehringer Ingelheim’s CHC business. After final enterprise value adjustments, the exchange values of the two businesses effectively transferred during 2017 were determined at € € Divestment of the Animal Health business Sanofi has recognized a pre-tax € Net income of the exchanged/held-for-exchange after-tax € Acquisition of Boehringer Ingelheim’s CHC business The final purchase price allocation for the acquisition of Boehringer Ingelheim’s CHC business is as follows (in € ( € Fair value at acquisition date Property, plant and equipment 67 Other intangible assets 3,771 Other non-current (84) Inventories 296 Other current assets and liabilities 46 Held-for-sale 77 Net deferred tax position (156) Net assets of Boehringer Ingelheim’s CHC business as of January 1, 2017 4,017 Goodwill 2,222 Purchase price 6,239 Goodwill represents (i) the capacity to draw on a specialized structure to refresh the existing product portfolio; (ii) the competencies of the staff transferred to Sanofi; (iii) the benefits derived from the creation of new growth platforms; and (iv) the expected future synergies and other benefits from combining the CHC operations of Boehringer Ingelheim and Sanofi. The tax-deductible € This business generated sales of € |
Changes in the scope of consoli
Changes in the scope of consolidation due to acquisitions and divestments | 12 Months Ended |
Dec. 31, 2017 | |
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Changes in the scope of consolidation due to acquisitions and divestments | D.2. Changes in the scope of consolidation due to acquisitions and divestments D.2.1. Acquisition of Protein Sciences On August 25, 2017, Sanofi acquired 100% of Protein Sciences, a biotechnology company headquartered in Meriden, Connecticut (United States). The principal product of Protein Sciences is Flublok ® The provisional purchase price allocation resulted in the recognition of goodwill amounting to € ( € Fair value at acquisition date Other intangible assets 776 Inventories 4 Other assets and liabilities (15) Net deferred tax position (259) Net assets of Protein Sciences as of August 25, 2017 506 Goodwill 125 Purchase price 631 The acquisition price includes two contingent consideration milestones elements of € The impacts of this acquisition on Sanofi’s business operating income and consolidated net income for the year ended December 31, 2017 are not material. D.2.2. Regeneron Pharmaceuticals, Inc. (Regeneron) Over the past three years, Sanofi acquired further shares in the biopharmaceutical company Regeneron at a cost of € € € € € € D.2.3. Dissolution of the Sanofi Pasteur MSD joint venture In December 2016, Sanofi finalized the dissolution of the Sanofi Pasteur MSD (SPMSD) joint venture. The transaction was completed in two stages on December 30 and December 31, 2016. Divestment by Sanofi of its interest in SPMSD On December 30, 2016, Sanofi transferred its interest in SPMSD to MSD. The consideration for the transfer was (i) a fixed sum of € € “available-for-sale The pre-tax € Other gains and losses, and litigation € Acquisition of the European Vaccines business previously included in the Sanofi Pasteur MSD joint venture This transaction was finalized on December 31, 2016. The final purchase price allocation resulted in the recognition of goodwill amounting to € ( € Fair value at acquisition date Other intangible assets 465 Inventories 17 Other current assets 2 Other non-current (5) Net deferred tax position (10) Net assets of the European Vaccines business at the acquisition date 469 Goodwill 21 Purchase price 490 The purchase price essentially comprises (i) a fixed sum of € € Liabilities related to business combinations and to non-controlling € D.2.4. Other acquisitions and divestments The impacts of the other acquisitions made during 2017, 2016 and 2015 are not material for Sanofi. |
Property, plant and equipment
Property, plant and equipment | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Property, plant and equipment | D.3. Property, plant and equipment Property, plant and equipment (including assets held under finance leases) comprise: ( € Land Buildings Machinery and Fixtures, fittings & other Property, plant & Total Gross value at January 1, 2015 372 6,915 9,419 2,215 1,959 20,880 Changes in scope of consolidation (4) 1 (8) 1 (22) (32) Acquisitions and other increases - 11 76 59 1,172 1,318 Disposals and other decreases (3) (4) (17) (126) (23) (173) Currency translation differences 5 144 122 24 25 320 Transfers (a) (1) 269 463 228 (1,083) (124) Reclassification of the Animal Health business (b) (33) (604) (313) (54) (76) (1,080) Gross value at December 31, 2015 336 6,732 9,742 2,347 1,952 21,109 Acquisitions and other increases - 9 48 51 1,232 1,340 Disposals and other decreases (10) (111) (350) (104) (37) (612) Currency translation differences 1 81 36 (1) 15 132 Transfers (a) - 247 558 128 (1,025) (92) Gross value at December 31, 2016 327 6,958 10,034 2,421 2,137 21,877 Changes in scope of consolidation 22 23 11 6 7 69 Acquisitions and other increases - 10 63 54 1,267 1,394 Disposals and other decreases (10) (124) (261) (125) (111) (631) Currency translation differences (21) (326) (278) (75) (84) (784) Transfers (a) - 227 576 169 (919) 53 Gross value at December 31, 2017 318 6,768 10,145 2,450 2,297 21,978 Accumulated depreciation & impairment at January 1, 2015 (17) (2,979) (5,780) (1,549) (159) (10,484) Changes in scope of consolidation 6 5 12 - 22 45 Depreciation expense - (376) (607) (208) - (1,191) Impairment losses, net of reversals - (38) (42) (11) (41) (132) Disposals and other decreases - 3 15 122 13 153 Currency translation differences - (33) (49) (17) - (99) Transfers (a) - 34 90 (4) (1) 119 Reclassification of the Animal Health business (b) - 252 145 26 - 423 Accumulated depreciation & impairment at December 31, 2015 (11) (3,132) (6,216) (1,641) (166) (11,166) Depreciation expense - (356) (595) (190) - (1,141) Impairment losses, net of reversals (3) (31) (17) (30) (78) (159) Disposals and other decreases 3 107 348 100 33 591 Currency translation differences - (37) (16) (2) (2) (57) Transfers (a) 4 22 16 6 26 74 Accumulated depreciation & impairment at December 31, 2016 (7) (3,427) (6,480) (1,757) (187) (11,858) Depreciation expense - (329) (595) (197) - (1,121) Impairment losses, net of reversals (11) (45) (177) (6) (15) (254) Disposals and other decreases - 94 239 117 107 557 Currency translation differences 1 140 147 53 2 343 Transfers (a) (3) (45) (19) (14) 15 (66) Accumulated depreciation & impairment at December 31, 2017 (20) (3,612) (6,885) (1,804) (78) (12,399) Carrying amount at December 31, 2015 325 3,600 3,526 706 1,786 9,943 Carrying amount at December 31, 2016 320 3,531 3,554 664 1,950 10,019 Carrying amount at December 31, 2017 298 3,156 3,260 646 2,219 9,579 (a) This line also includes the effect of the reclassification of assets to Assets held for sale or exchange . (b) This line comprises the property, plant and equipment of the Animal Health business, reclassified to Assets held for sale or exchange as of December 31, 2015 in accordance with IFRS 5 (see Notes D.1. and D.36.). Acquisitions during 2017 amounted to € € € € € € € € € € € € € € € € € Firm orders of property, plant and equipment were € € € € € € During 2017 impairment tests of property, plant and equipment conducted using the method described in Note B.6. resulted in the recognition of net impairment losses of € € € € The table below shows amounts for items of property, plant and equipment held under finance leases: ( € 2017 2016 2015 Land 4 3 3 Buildings 102 102 101 Other 9 8 8 Total gross value 115 113 112 Accumulated depreciation and impairment (87) (79) (69) Carrying amount 28 34 43 Future minimum lease payments due under finance leases as of December 31, 2017 were € € € € € € As of December 31, 2017, the payment schedule is as follows: Payments due by period ( € Total Less than 1 year 1 to 3 years 3 to 5 years More than 5 years Finance lease obligations ∎ 32 11 6 6 9 ∎ 7 2 2 2 1 Total 39 13 8 8 10 |
Goodwill and other intangible a
Goodwill and other intangible assets | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Goodwill and other intangible assets | D.4. Goodwill and other intangible assets Movements in goodwill comprise: ( € Goodwill Balance at January 1, 2015 39,197 Reclassification of the Animal Health business (a) (1,510) Currency translation differences 1,870 Balance at December 31, 2015 39,557 Acquisitions during the period 5 Currency translation differences 725 Balance at December 31, 2016 40,287 Acquisitions during the period 2,347 Other movements during the period 12 Currency translation differences (2,382) Balance at December 31, 2017 40,264 (a) Comprises the goodwill on the Animal Health business, presented within Assets held for sale or exchange as of December 31, 2016 and 2015. Acquisition of Protein Sciences (2017) The provisional purchase price allocation for Protein Sciences resulted in the recognition of intangible assets (other than goodwill) totaling € ® € The goodwill arising from the acquisition of Protein Sciences was provisionally measured at € Acquisition of Boehringer Ingelheim’s Consumer Healthcare business (2017) The final purchase price allocation for Boehringer Ingelheim’s Consumer Healthcare business resulted in the recognition of intangible assets (other than goodwill) totaling € ® ® ® ® ® ® ® The goodwill arising from the acquisition of Boehringer Ingelheim’s Consumer Healthcare business amounted to € Acquisition of the European Vaccines business previously included in the Sanofi Pasteur MSD joint venture (2016) The final purchase price allocation for the European Vaccines business resulted in the recognition of intangible assets (other than goodwill) totaling € Genzyme acquisition (2011) The Genzyme final purchase price allocation resulted in the recognition of intangible assets (other than goodwill) totaling € € ® ® ® ® ® € in-process ® € Goodwill arising from the acquisition of Genzyme amounted to € € € As of December 31, 2017 and December 31, 2016, the carrying amount of marketed products and the Genzyme brand represented more than 99% of the intangible assets of Genzyme (other than goodwill), and in-process None of the Genzyme acquired research and development came into commercial use during 2016 or 2017. During 2015, some of the Genzyme acquired research and development ( € ® Aventis acquisition (2004) On August 20, 2004, Sanofi acquired Aventis, a global pharmaceutical group created in 1999 by the merger between Rhône-Poulenc The total purchase price was € € Goodwill arising from the Aventis acquisition amounted to € € € Rights to marketed products and goodwill arising on the Aventis acquisition were allocated on the basis of the split of Sanofi’s operations into business and geographical segments, and valued in the currency of the relevant geographical segment (mainly euros and US dollars) with assistance from an independent valuer. Movements in other intangible assets comprise: ( € Acquired R&D Products, Software Total other assets Gross value at January 1, 2015 3,482 53,130 1,240 57,852 Acquisitions and other increases 1,179 912 154 2,245 Disposals and other decreases (204) (1,321) (27) (1,552) Currency translation differences 189 3,610 35 3,834 Transfers (a) (741) 653 11 (77) Reclassification of the Animal Health business (b) (51) (4,982) (182) (5,215) Gross value at December 31, 2015 3,854 52,002 1,231 57,087 Changes in scope of consolidation - 465 - 465 Acquisitions and other increases 142 127 148 417 Disposals and other decreases (305) (d) (687) (73) (1,065) Currency translation differences 55 1,124 17 1,196 Transfers (a) (97) 76 3 (18) Gross value at December 31, 2016 3,649 53,107 1,326 58,082 Changes in scope of consolidation - 4,546 1 4,547 Acquisitions and other increases 317 212 170 699 Disposals and other decreases (39) (450) (62) (551) Currency translation differences (200) (3,814) (51) (4,065) Transfers (a) (48) 37 (16) (27) Gross value at December 31, 2017 3,679 53,638 1,368 58,685 Accumulated amortization & impairment at January 1, 2015 (2,041) (40,352) (916) (43,309) Amortization expense - (2,651) (108) (2,759) Impairment losses, net of reversals (c) (343) (427) (3) (773) Disposals and other decreases 204 1,257 27 1,488 Currency translation differences (124) (2,662) (23) (2,809) Transfers (a) - 39 (6) 33 Reclassification of the Animal Health business (b) 3 2,908 157 3,068 Accumulated amortization & impairment at December 31, 2015 (2,301) (41,888) (872) (45,061) Amortization expense - (1,712) (104) (1,816) Impairment losses, net of reversals (c) (60) (137) - (197) Disposals and other decreases 108 673 73 854 Currency translation differences (41) (931) (12) (984) Transfers (a) 4 (2) (1) 1 Accumulated amortization & impairment at December 31, 2016 (2,290) (43,997) (916) (47,203) Amortization expense - (1,886) (112) (1,998) Impairment losses, net of reversals (c) (95) (215) (3) (313) Disposals and other decreases 39 443 64 546 Currency translation differences 142 3,138 35 3,315 Transfers (a) - 41 7 48 Accumulated amortization & impairment at December 31, 2017 (2,204) (42,476) (925) (45,605) Carrying amount at December 31, 2015 1,553 10,114 359 12,026 Carrying amount at December 31, 2016 1,359 9,110 410 10,879 Carrying amount at December 31, 2017 1,475 11,162 443 13,080 (a) The “Transfers” line mainly relates to acquired R&D that came into commercial use during the period and is being amortized from the date of marketing approval. (b) Comprises the other intangible assets of the Animal Health business, now reclassified to Assets held for sale or exchange . (c) See Note D.5. (d) Includes the return of product rights to Hanmi Pharmaceutical Co. Ltd in 2016 (see Note D.21.1). “Products, trademarks and other rights” (excluding items relating to the Animal Health business, reported within the line item Assets held for sale or exchange ∎ marketed products, with a carrying amount of € € € ∎ trademarks, with a carrying amount of € € € The table below provides information about the principal marketed products, which were recognized in connection with business combinations and represented 85% of the carrying amount of that item as of December 31, 2017: ( € Gross Accumulated Carrying Amortization (a) Residual (b) Carrying Carrying Genzyme 10,287 (6,453) 3,834 10 6 5,009 5,759 Boehringer Ingelheim Consumer Healthcare 3,683 (241) 3,442 16 16 - - Aventis 32,308 (31,724) 584 9 3 1,095 1,548 Chattem 1,217 (451) 766 23 16 930 956 Zentiva 961 (869) 92 9 4 128 187 Protein Sciences 765 (21) 744 13 13 - - Total: principal marketed products 49,221 (39,759) 9,462 7,162 8,450 (a) Weighted averages. The amortization periods for these products vary between 1 and 25 years. (b) Weighted averages. Acquisitions of other intangible assets (excluding software) during 2017 amounted to € During 2017, € During 2016, some of the acquired research and development came into commercial use, and started being amortized from the date of marketing approval. The main such items were the diabetes treatments Lyxumia ® € During 2015, some of the acquired research and development came into commercial use, and started being amortized from the date of marketing approval. The main such item was the dengue fever vaccine ( € Amortization of other intangible assets is recognized in the income statement within the line item Amortization of intangible assets ( € 2017 (a) 2016 (a) 2015 (a) Cost of sales 28 28 25 Research and development expenses 22 16 13 Selling and general expenses 53 56 52 Other operating expenses 9 5 4 Total 112 105 94 (a) The results of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current |
Impairment of intangible assets
Impairment of intangible assets and property, plant and equipment | 12 Months Ended |
Dec. 31, 2017 | |
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Impairment of intangible assets and property, plant and equipment | D.5. Impairment of intangible assets and property, plant and equipment Goodwill The recoverable amount of cash generating units (CGUs) is determined by reference to the value in use of each CGU, based on discounted estimates of the future cash flows from the CGU, in accordance with the policies described in Note B.6.1. In light of changes to the operational structure of Sanofi during 2017, the goodwill previously allocated in full to the old Pharmaceuticals CGU was reallocated between the new Pharmaceuticals and Consumer Healthcare CGUs as of January 1, 2017, in accordance with the principles of IAS 36. The reallocated goodwill was subject to impairment testing, which did not indicate any requirement to recognize impairment losses. Impairment testing was also carried out on the basis of the previous CGU structure, and this did not indicate any requirement to recognize impairment losses either. The goodwill arising from the acquisition of Boehringer Ingelheim’s Consumer Healthcare business (see note D.1.) was allocated in full to the Consumer Healthcare CGU. Goodwill is monitored internally at the level of each of the three current CGUs (Pharmaceuticals, Consumer Healthcare and Vaccines). Each of those CGUs reflects on a global scale all the key organizational components involved in commercial, R&D and industrial decision-making for that CGU. Sanofi believes those decisions have a significant influence on the generation of cash flows for each CGU. The allocation of goodwill as of December 31, 2017 is shown below: ( € Pharmaceuticals Consumer Vaccines Total Sanofi Goodwill 32,437 6,525 1,302 40,264 The value in use of each CGU was determined by applying an after-tax after-tax A separate discount rate is used for each CGU to reflect the specific economic conditions of the CGU. The rates used for impairment testing in 2017 were 7.25% for the Pharmaceuticals CGU, 7.50% for the Consumer Healthcare CGU, and 7.25% for the Vaccines CGU; an identical value in use for Sanofi as a whole would be obtained by applying a uniform 7.3% rate to all three CGUs. The pre-tax pre-tax previously-determined pre-tax The assumptions used in testing goodwill for impairment are reviewed annually. Apart from the discount rate, the principal assumptions used in 2017 were as follows: ∎ the perpetual growth rates applied to future cash flows were zero for the Pharmaceuticals CGU, 2% for the Consumer Healthcare CGU, and 0.5% for the Vaccines CGU; ∎ Sanofi also applies assumptions on the probability of success of current research and development projects, and more generally on its ability to renew the product portfolio in the longer term. Value in use (determined as described above) is compared with the carrying amount, and this comparison is then subjected to sensitivity analyses by reference to the principal parameters, including: ∎ changes in the discount rate; ∎ changes in the perpetual growth rate; and ∎ fluctuations in operating margin. No impairment of goodwill would need to be recognized in the event of a reasonably possible change in the assumptions used in 2017. A value in use calculation for each of the CGUs would not result in an impairment loss using: ∎ a discount rate up to 1.3 percentage points above the rates actually used; or ∎ a perpetual growth rate up to 2.7 percentage points below the rates actually used; or ∎ an operating margin up to 3.8 percentage points below the rates actually used. No impairment losses were recognized against goodwill in the years ended December 31, 2017, 2016 or 2015. Other intangible assets When there is evidence that an asset may have become impaired, the asset’s recoverable amount is calculated by applying an after-tax after-tax after-tax after-tax pre-tax pre-tax The after-tax after-tax In 2017, impairment testing of other intangible assets (excluding software) resulted in the recognition of a € € Cost of sales € € € In 2016, impairment testing of other intangible assets (excluding software) resulted in the recognition of a € € € In 2015, impairment testing of other intangible assets (excluding software) resulted in the recognition of a € ∎ € (i) Synvisc-One ® ∎ € ® (ii) Auvi-Q ® ® The amount of net impairment losses reclassified to Net income/(loss) of the exchanged/held-for-exchange € Property, plant and equipment Impairment losses taken against property, plant and equipment are disclosed in Note D.3. |
Investments accounted for using
Investments accounted for using the equity method | 12 Months Ended |
Dec. 31, 2017 | |
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Investments accounted for using the equity method | D.6. Investments accounted for using the equity method Investments accounted for using the equity method comprise associates and joint ventures (see Note B.1.). The table below sets forth Sanofi’s investments accounted for using the equity method: ( € % interest 2017 2016 2015 Regeneron Pharmaceuticals, Inc. (a) 22.2 2,512 2,548 2,245 Onduo LLC 50.0 141 181 - Sanofi Pasteur MSD (b)/(c) - - - 252 Infraserv GmbH & Co. Höchst KG (b) 31.2 73 79 85 Entities and companies managed by Bristol-Myers Squibb (d) 49.9 38 44 43 Other investments - 99 38 51 Total 2,863 2,890 2,676 (a) See Note D.2.2. (b) Joint ventures. (c) See Notes B.1. and D.2.3. (d) Under the terms of the agreements with BMS (see Note C.2.), Sanofi’s share of the net assets of entities majority-owned Investments accounted for using the equity method . On March 8, 2016, Sanofi Pasteur and MSD (known as Merck in the United States and Canada) announced their intention to end their Sanofi Pasteur MSD (SPMSD) joint venture, in order to pursue their own distinct growth strategies in Europe. The transaction was finalized on December 31, 2016 (see Notes B.1. and D.2.3.). Following the announcement, Sanofi’s interest in SPMSD was reclassified to the line item Assets held for sale or exchange . The table below shows Sanofi’s overall share of (i) profit or loss and (ii) other comprehensive income from investments accounted for using the equity method, showing the split between associates and joint ventures in accordance with IFRS 12 (the amounts for each individual associate or joint venture are not material): 2017 2016 2015 ( € Joint ventures Associates Joint ventures Associates Joint ventures Associates Share of profit/(loss) from investments accounted for using the equity method (a) 20 84 20 114 31 (53) Share of other comprehensive income from investments accounted for using the equity method 22 (303) (3) 58 1 235 Total 42 (219) 17 172 32 182 (a) The Sanofi Pasteur MSD joint venture ceased to be accounted for by the equity method on March 8, 2016, the date on which it was announced that the joint venture was to be dissolved (see Notes B.1. and D.2.3.). The financial statements include arm’s length commercial transactions between Sanofi and some equity-accounted investments that are classified as related parties. The principal transactions and balances with related parties are summarized below: ( € 2017 2016 2015 Sales (a) 33 39 218 Royalties and other income (a) 100 156 91 Accounts receivable and other receivables 85 101 81 Purchases and other expenses (including research expenses) (a) 777 708 762 Accounts payable 197 161 196 Other liabilities 20 65 10 (a) For the year ended December 31, 2016, these items include transactions between Sanofi and SPMSD during the period from January 1, 2016 through March 8, 2016 (the date of the announcement that the joint venture was to be dissolved; see Notes B.1. and D.2.3.). Funding commitments to associates and joint ventures amounted to € For off balance sheet commitments of an operational nature involving joint ventures, see Note D.21.1. Regeneron Key items from the consolidated financial statements of Regeneron, after adjustments to comply with IFRS but before fair value remeasurements, are set forth below: ( € 2017 2016 2015 Net sales and other revenues 5,200 4,393 3,698 Net income/(loss) for the period 815 714 232 Other comprehensive income for the period, net of taxes 12 (19) (39) Comprehensive income/(loss) 827 695 193 ( € December 31, December 31, December 31, Current assets 3,615 3,001 2,704 Non-current 3,947 4,304 4,529 Total assets 7,562 7,305 7,233 Current liabilities 947 1,178 745 Non-current 1,238 1,218 1,903 Total liabilities 2,185 2,396 2,648 Consolidated shareholders’ equity of Regeneron 5,377 4,909 4,585 The table below shows a reconciliation to the carrying amount of the investment: ( € December 31, December 31, December 31, % interest 22% 22% 22% Share of equity attributable to Sanofi 1,193 1,084 1,012 Goodwill 810 835 779 Fair value remeasurements of assets and liabilities at the acquisition date 938 1,065 1,039 Other items (a) (429) (436) (585) Carrying amount of the investment in Regeneron 2,512 2,548 2,245 (a) Mainly comprised of the difference arising from Sanofi’s share of the accumulated profits and losses and other changes in the net assets of Regeneron for the periods prior to first-time application of the equity method, and thereafter (i) Sanofi’s share of the stock option expense recognized against equity in the books of Regeneron, and of the deferred taxes recognized against equity in respect of that expense in accordance with IAS 12 paragraph 68C and (ii) the effects of the elimination of internal profits between Sanofi and Regeneron. As of December 31, 2017, the market value of Sanofi’s investment in Regeneron was € € € Under the terms of the investment agreement signed at the start of 2014, Sanofi is required to compute the level of its ownership interest in Regeneron on a quarterly basis, and to maintain that interest at a level no lower than the highest percentage previously achieved in order to retain a designee on the Regeneron Board of Directors. Once Sanofi’s ownership interest passes 25%, the minimum interest requirement is fixed at 25%. An amendment to that agreement was signed on January 8, 2018 (see Note G/). |
Other Non-current Assets
Other Non-current Assets | 12 Months Ended |
Dec. 31, 2017 | |
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Other Non-current Assets | D.7. Other non-current Other non-current ( € 2017 2016 2015 Available-for-sale 2,182 1,583 1,609 Pre-funded 53 30 49 Long-term loans and advances and other non-current 730 776 671 Financial assets recognized under the fair value option 336 329 276 Derivative financial instruments (Note D.20.) 63 102 120 Total 3,364 2,820 2,725 Available-for-sale Quoted equity securities Equity interests classified as available-for-sale ∎ An equity interest in Alnylam Pharmaceuticals, Inc. (Alnylam), acquired at the start of 2014. Based on the quoted market price, Sanofi’s equity interest was valued at € € € € ∎ An equity injection into Voyager Therapeutics, Inc. carried out under the February 2015 collaboration agreement with that company, valued at € € ∎ An equity injection into MyoKardia, Inc., initiated under a collaboration agreement signed with that company in September 2014, valued at € € ∎ An equity injection into JHL Biotech, Inc. carried out under a collaboration agreement signed with that company on December 5, 2016, valued at € € ∎ Financial assets held to meet obligations to employees under post-employment benefit plans, amounting to € € € Sanofi’s equity interest in Nichi-Iko € Sanofi’s equity interest in Merrimack Pharmaceuticals, Inc. was divested in full during 2015. Unquoted equity investments Available-for-sale € € € Other available-for-sale As of December 31, 2017, Sanofi held € € In connection with the dissolution of the Sanofi Pasteur MSD (SPMSD) joint venture, Sanofi recognized an available-for-sale Changes in the fair value of this contingent consideration are recognized in the income statement in the line item Fair value remeasurement of contingent consideration As of December 31, 2017, the contingent consideration asset amounted to € non-current € € € A 10% decline in stock prices of quoted equity investments classified as available-for-sale ( € Sensitivity Other comprehensive income before tax (156) Income before tax (1) Total (157) A 10% decline in the quoted market prices of Sanofi’s other available-for-sale ( € Sensitivity Other comprehensive income before tax (13) Income before tax - Total (a) (13) (a) Represents approximately 3.8% of the value of the assets involved. Other disclosures about available-for-sale Other comprehensive income recognized in respect of available-for-sale € Other comprehensive income) € € Long-term loans, advances and other non-current Long-term loans, advances and other non-current € Financial assets recognized under the fair value option Financial assets recognized under the fair value option represent a portfolio of financial investments held to fund a deferred compensation plan provided to certain employees. |
Assets and Liabilities Held for
Assets and Liabilities Held for Sale or Exchange | 12 Months Ended |
Dec. 31, 2017 | |
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Assets and Liabilities Held for Sale or Exchange | D.8. Assets and liabilities held for sale or exchange Assets held for sale or exchange, and liabilities related to assets held for sale or exchange, comprise: ( € Note December 31, 2017 December 31, 2016 December 31, 2015 Animal Health business D.36. - 6,376 5,626 Other 34 45 126 Assets held for sale or exchange 34 6,421 5,752 Animal Health business D.36. - 1,165 983 Other - 30 - Liabilities related to assets held for sale or exchange - 1,195 983 |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2017 | |
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Inventories | D.9. Inventories Inventories comprise the following: 2017 2016 2015 ( € Gross Write- Carrying Gross Write- Carrying Gross Write- Carrying Raw materials 1,041 (79) 962 1,053 (104) 949 1,050 (90) 960 Work in process 4,348 (656) 3,692 4,512 (710) 3,802 4,043 (561) 3,482 Finished goods 2,340 (178) 2,162 2,341 (200) 2,141 2,282 (208) 2,074 Total 7,729 (913) 6,816 7,906 (1,014) 6,892 7,375 (859) 6,516 Write-downs include inventories of products on hand pending marketing approval. Inventories pledged as security for liabilities amounted to € € € |
Accounts Receivable
Accounts Receivable | 12 Months Ended |
Dec. 31, 2017 | |
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Accounts Receivable | D.10. Accounts receivable An analysis of accounts receivable is set forth below: ( € December 31, December 31, December 31, Gross value 7,405 7,506 7,553 Allowances (189) (195) (167) Carrying amount 7,216 7,311 7,386 The impact of allowances against accounts receivable in 2017 was a net expense of € € € The gross value of overdue receivables was € € € Overdue Overdue by: ( € Gross <1 month 1 to 3 months 3 to 6 months 6 to 12 months > 12 months December 31, 2017 644 247 143 113 48 93 December 31, 2016 597 133 103 121 42 198 December 31, 2015 677 171 147 117 83 159 Amounts overdue by more than one month relate mainly to public-sector customers. Some Sanofi subsidiaries have assigned receivables to factoring companies or banks without recourse. The amount of receivables that met the conditions described in Note B.8.7. and were therefore derecognized was € € € € € |
Other Current Assets
Other Current Assets | 12 Months Ended |
Dec. 31, 2017 | |
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Other Current Assets | D.11. Other current assets An analysis of other current assets is set forth below: ( € 2017 2016 2015 Taxes recoverable 832 1,034 1,006 Other receivables (a) 627 705 461 Prepaid expenses 336 333 300 Interest rate derivatives measured at fair value (see Note D.20.) - 3 39 Currency derivatives measured at fair value (see Note D.20.) 133 105 59 Other current financial assets 77 31 13 Total 2,005 2,211 1,878 (a) This line mainly comprises advance payments to suppliers. The 2016 figure also includes the impact of the transactions finalized in 2016 for which payments were received in January 2017. |
Financial Assets and Liabilitie
Financial Assets and Liabilities Measured at Fair Value | 12 Months Ended |
Dec. 31, 2017 | |
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Financial Assets and Liabilities Measured at Fair Value | D.12. Financial assets and liabilities measured at fair value Under IFRS 7 (Financial Instruments: Disclosures), fair value measurements must be classified using a fair value hierarchy with the following levels: ∎ quoted prices in active markets for identical assets and liabilities (without modification or repackaging); ∎ quoted prices in active markets for similar assets and liabilities, and valuation techniques in which all important inputs are derived from observable market data; ∎ valuation techniques in which not all important inputs are derived from observable market data. The valuation techniques used are described in Note B.8.6. The table below shows the balance sheet amounts of assets and liabilities measured at fair value. 2017 2016 2015 Level in the fair value hierarchy Level in the fair value hierarchy Level in the fair value hierarchy ( € Note Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Financial assets measured at fair value Quoted equity investments D.7. 1,568 - - 900 - - 1,451 - - Unquoted equity investments D.7. - - 123 - - 112 - - 102 Quoted debt securities D.7. 199 - - 113 - - 56 - - Contingent consideration relating to divestments D.7. - - 342 - - 458 - - - Financial assets recognized under the fair value option D.7. 336 - - 329 - - 276 - - Non-current D.7. - 63 - - 102 - - 120 - Current derivatives D.11. - 133 - - 108 - - 98 - Mutual fund investments D.13. 7,207 - - 6,210 - - 5,042 - - Total financial assets measured at fair value 9,310 196 465 7,552 210 570 6,825 218 102 Financial liabilities measured at fair value CVRs issued in connection with the acquisition of Genzyme D.18. 75 - - 85 - - 24 - - Bayer contingent purchase consideration arising from the acquisition of Genzyme D.18. - - 701 - - 1,013 - - 1,040 MSD contingent consideration (European vaccines business) D.18. - - 420 - - 354 - - - Other contingent consideration arising from business combinations D.18. - - 81 - - 1 - - 6 Liabilities related to non-controlling D.18. - - 92 - - 123 - - 181 Non-current - 16 - - - - - 3 - Current derivatives D.19.5. - 58 - - 132 - - 82 - Total financial liabilities measured at fair value 75 74 1,294 85 132 1,491 24 85 1,227 No transfers between the different levels of the fair value hierarchy occurred during 2017. In connection with the dissolution of the Sanofi Pasteur MSD (SPMSD) joint venture, which was finalized on December 31, 2016, Sanofi recognized contingent consideration receivable as an available-for-sale Liabilities related to business combinations and non-controlling ∎ The financial asset relating to contingent consideration receivable by Sanofi based on a percentage of MSD’s future sales during the 2017-2024 period of specified products previously distributed by SPMSD amounted to € ∎ The financial liability relating to contingent consideration payable to MSD based on a percentage of future sales made by Sanofi Pasteur during the 2017-2024 period of specified products previously distributed by SPMSD amounted to € |
Cash and Cash Equivalents
Cash and Cash Equivalents | 12 Months Ended |
Dec. 31, 2017 | |
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Cash and Cash Equivalents | D.13. Cash and cash equivalents ( € 2017 2016 2015 Cash 472 1,077 1,361 Cash equivalents (a) 9,843 9,196 7,787 Cash and cash equivalents (b) 10,315 10,273 9,148 (a) As of December 31, 2017, cash equivalents mainly comprised (i) € € € € € € € € € € € € (b) Includes immaterial amounts held by Sanofi’s Venezuelan subsidiaries as of December 31, 2017 and December 31, 2016 (versus € |
Net Deferred Tax Position
Net Deferred Tax Position | 12 Months Ended |
Dec. 31, 2017 | |
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Net Deferred Tax Position | D.14. Net deferred tax position An analysis of the net deferred tax position is set forth below: ( € 2017 2016 2015 Deferred taxes on: Consolidation adjustments (intragroup margin in inventory) 969 1,095 1,074 Provision for pensions and other employee benefits 1,263 1,538 1,522 Remeasurement of other acquired intangible assets (a) (1,713) (2,797) (3,370) Recognition of acquired property, plant and equipment at fair value (36) (44) (48) Equity interests in subsidiaries and investments in other entities (b) (592) (818) (833) Tax losses available for carry-forward 1,059 1,070 1,162 Stock options and other share-based payments 88 126 131 Accrued expenses and provisions deductible at the time of payment (c) 1,344 2,202 2,061 Other 303 5 120 Net deferred tax asset/(liability) 2,685 2,377 1,819 (a) Includes the following deferred tax liabilities as of December 31, 2017: € € (b) In some countries, Sanofi is liable for withholding taxes and other tax charges when dividends are distributed. Consequently, Sanofi recognizes a deferred tax liability on the reserves of French and foreign subsidiaries (approximately € (c) Includes deferred tax assets related to restructuring provisions, amounting to € € € The reserves of Sanofi subsidiaries that would be taxable if distributed but for which no distribution is planned, and for which no deferred tax liability has therefore been recognized, totaled € € € Most of Sanofi’s tax loss carry-forwards are available indefinitely. For a description of policies on the recognition of deferred tax assets, refer to Note B.22. The recognition of deferred tax assets is determined on the basis of profit forecasts for each tax consolidation, and of the tax consequences of the strategic opportunities available to Sanofi. Those forecasts are consistent with Sanofi’s medium-term strategic plan, and are based on time horizons that take account of the period of availability of tax loss carry-forwards carry-forwards € € € € € € The table below shows when tax losses available for carry-forward are due to expire: ( € Tax losses available for carry-forward (a) 2018 33 2019 6 2020 24 2021 55 2022 43 2023 and later 5,003 Total as of December 31, 2017 5,164 Total as of December 31, 2016 5,176 Total as of December 31, 2015 5,209 (a) Excluding tax loss carry-forwards € € Use of tax loss carry-forwards Deferred tax assets not recognized because their future recovery was not regarded as probable given the expected results of the entities in question amounted to € € € |
Consolidated Shareholders' Equi
Consolidated Shareholders' Equity | 12 Months Ended |
Dec. 31, 2017 | |
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Consolidated Shareholders' Equity | D.15. Consolidated shareholders’ equity D.15.1. Share capital As of December 31, 2017, the share capital was € € Number of shares % of share capital for December 31, 2017 0.2 0.01% December 31, 2016 20.0 1.55% December 31, 2015 4.0 0.30% January 1, 2015 9.5 0.72% Treasury shares are deducted from shareholders’ equity. Gains and losses on disposals of treasury shares are recorded directly in equity and are not recognized in net income for the period. Movements in the share capital of the Sanofi parent company over the last three years are set forth below: Date Transaction Number of shares Share capital (a) Additional paid-in capital (a) Reserves (a) December 31, 2014 1,319,367,445 2,639 5,614 - During 2015 Capital increase by exercise of stock subscription options (b) 9,000,127 18 555 - During 2015 Capital increase by issuance of restricted shares (c) 3,071,173 6 (6) - Board meeting of April 29, 2015 Reduction in share capital by cancellation of treasury shares (18,482,786) (37) (1,454) - Board meeting of October 28, 2015 Reduction in share capital by cancellation of treasury shares (7,259,200) (15) (670) - December 31, 2015 1,305,696,759 2,611 4,039 - During 2016 Capital increase by exercise of stock subscription options (b) 3,418,421 7 212 - During 2016 Capital increase by issuance of restricted shares (c) 3,664,248 7 (7) - Board meeting of April 28, 2016 Reduction in share capital by cancellation of treasury shares (22,561,090) (45) (1,655) - Board meeting of July 22, 2016 Capital increase reserved for employees 1,803,986 4 96 - December 31, 2016 1,292,022,324 2,584 2,685 - During 2017 Capital increase by exercise of stock subscription options (b) 3,764,646 8 215 - During 2017 Capital increase by issuance of restricted shares (c) 3,394,574 7 (7) - Board meeting of April 27, 2017 Reduction in share capital by cancellation of treasury shares (36,380,198) (73) (2,709) - Board meeting of July 28, 2017 Capital increase reserved for employees 1,621,098 3 103 - Board meeting of December 14, 2017 Reduction in share capital by cancellation of treasury shares (10,402,540) (21) (229) (616) December 31, 2017 1,254,019,904 2,508 58 (616) (a) Amounts expressed in millions of euros. (b) Shares issued on exercise of Sanofi stock subscription options. (c) Shares vesting under restricted share plans and issued in the period. For the disclosures about the management of capital required under IFRS 7, refer to Note B.27. D.15.2. Restricted share plans Restricted share plans are accounted for in accordance with the policies described in Note B.24.3. The principal characteristics of those plans are as follows: 2017 2016 2015 Type of plan Performance Performance share plan Performance share plan Date of Board meeting approving the plan May 10, 2017 May 4, 2016 June 24, 2015 Total number of shares awarded 3,587,465 4,097,925 3,832,840 Of which plans subject to a 4-year - - 2,546,420 Fair value per share awarded (a) - - 79.52 Of which plans subject to a 3-year 3,587,465 4,097,925 1,286,420 Fair value per share awarded (a) 81.50 61.06 82.96 Fair value of plan at the date of grant ( € 292 250 309 (a) Quoted market price per share at the date of grant, adjusted for dividends expected during the vesting period. The total expense recognized for all restricted share plans in the year ended December 31, 2017 was € € € The number of restricted shares not yet fully vested as of December 31, 2017 was 12,867,519, comprising 3,468,576 under the 2017 plans; 3,798,073 under the 2016 plans; 3,438,420 under the 2015 plans; and 2,162,450 under the 2014 plans. The number of restricted shares not yet fully vested was 13,543,254 as of December 31, 2016 and 14,076,259 as of December 31, 2015. On March 5, 2014, the Board of Directors approved a performance share unit (PSU) plan, vesting at the end of a three-year service period and subject to performance conditions. That plan expired on March 5, 2017, resulting in a cash payment of € D.15.3. Capital increases On March 2, 2017, the Sanofi Board of Directors approved an employee share ownership plan in the form of a capital increase reserved for employees. Employees were offered the opportunity to subscribe to the capital increase at a price of € The subscription period was open from June 19 through June 30, 2017. The plan resulted in a total of 1,528,982 shares being subscribed for, and the immediate issuance of a further 92,116 shares as an employer’s contribution under the terms of the plan. An expense of € € On March 3, 2016, the Sanofi Board of Directors approved an employee share ownership plan in the form of a capital increase reserved for employees. Employees were offered the opportunity to subscribe to the capital increase at a price of € The subscription period was open from June 13 through June 24, 2016. The plan resulted in a total of 1,756,972 shares being subscribed for, and the immediate issuance of a further 47,014 shares as an employer’s contribution under the terms of the plan. An expense of € € There were no capital increases reserved for employees in 2015. D.15.4. Repurchase of Sanofi shares On May 10, 2017, the Annual General Meeting of Sanofi shareholders approved a share repurchase program for a period of 18 months. Under that program (and that program alone), Sanofi repurchased 8,428,935 of its own shares during 2017 for a total amount of € On May 4, 2016, the Annual General Meeting of Sanofi shareholders approved a share repurchase program for a period of 18 months. Under that program (and that program alone), Sanofi repurchased 18,426,601 of its own shares during 2017 for a total amount of € € On May 4, 2015, the Annual General Meeting of Sanofi shareholders approved a share repurchase program for a period of 18 months. Under that program (and that program alone), Sanofi repurchased 18,764,233 of its own shares during 2016 for a total amount of € € Transactions carried out under the liquidity contract in 2017 had a negative impact of € D.15.5. Reductions in share capital Reductions in share capital for the accounting periods presented are described in the table included at Note D.15.1 above. Those reductions have no impact on shareholders’ equity. D.15.6. Currency translation differences Currency translation differences comprise the following: ( € 2017 2016 2015 Attributable to equity holders of Sanofi (1,439) 1,787 701 Attributable to non-controlling (32) (18) (22) Total (1,471) 1,769 679 The balance as of December 31, 2017 includes an after-tax € € That balance also includes € € Assets held for sale or exchange Liabilities related to assets held for sale or exchange The movement in Currency translation differences D.15.7. Other comprehensive income Movements within other comprehensive income are shown below: ( € 2017 2016 2015 Balance, beginning of period 973 45 (2,315) Attributable to equity holders of Sanofi 992 67 (2,287) Attributable to non-controlling (19) (22) (28) Actuarial gains/(losses): ∎ (30) (104) 650 ∎ 2 (2) 2 ∎ (a) (90) (22) (187) Items not subsequently reclassifiable to profit or loss (b) (118) (128) 465 Available-for-sale ∎ (c) 837 (104) (29) ∎ 1 (1) (8) ∎ (145) 50 16 Cash flow hedges: ∎ (d) (24) 30 (3) ∎ - 1 - ∎ 8 (10) 1 Change in currency translation differences: ∎ (d)/(e) (2,956) 1,033 1,681 ∎ (284) 57 243 ∎ - - (9) ∎ - - 3 Items subsequently reclassifiable to profit or loss (2,563) 1,056 1,895 Balance, end of period (1,708) 973 45 Attributable to equity holders of Sanofi (1,674) 992 67 Attributable to non-controlling (34) (19) (22) (a) Includes the impact of changes in corporate income tax rates: € € (b) Items not subsequently reclassifiable to profit or loss and attributable to the Animal Health business divested on January 1, 2017: € € (c) Includes reclassifications to profit or loss: € € € (d) Includes reclassifications to profit or loss: € € € (e) Items subsequently reclassifiable to profit or loss and attributable to the Animal Health business divested on January 1, 2017: € € € € € D.15.8. Stock options Stock option plans awarded On May 10, 2017, the Board of Directors granted 378,040 stock subscription options at an exercise price of € On May 4, 2016, the Board of Directors granted 402,750 stock subscription options at an exercise price of € On June 24, 2015, the Board of Directors granted 435,000 stock subscription options at an exercise price of € Measurement of stock option plans The fair value of the stock subscription option plan awarded in 2017 is € € The fair value of the stock subscription option plan awarded in 2016 is € Sanofi used the following assumptions in determining the fair value of the plans: ∎ dividend yield: 3.56% (2017 plan), 4.51% (2016 plan) and 3.64% (2015 plan); ∎ volatility of Sanofi shares, computed on a historical basis: 23.74% (2017 plan), 24.54% (2016 plan) and 27.52% (2015 plan); ∎ risk-free interest rate: 0.270% (2017 plan), 0.056% (2016 plan) and 0.65% (2015 plan); and ∎ plan maturity: 7 years (2017, 2016 and 2015 plans). The plan maturity is the average expected remaining life of the options, based on observations of historical employee behavior. Fair values per option awarded are € € € The expense recognized for stock option plans (and the corresponding amounts recognized in equity) are € € As of December 31, 2017, the total unrecognized cost of unvested stock options was € € € € € € Stock purchase option plans The table shows all Sanofi stock purchase option plans still outstanding or under which options were exercised in the year ended December 31, 2017. Source Date of grant Number of Start date of Expiry date Exercise price € Number of options Synthélabo 03/30/1999 716,040 03/31/2004 03/30/2019 38.08 104,701 Total 104,701 Sanofi shares acquired to cover stock purchase option plans are deducted from shareholders’ equity. The exercise of all outstanding stock purchase options would increase shareholders’ equity by € Stock subscription option plans Details of the terms of exercise of stock subscription options granted under the various plans are presented below in Sanofi share equivalents. These plans were awarded to certain corporate officers and employees of Sanofi companies. The table shows all Sanofi stock subscription option plans still outstanding or under which options were exercised in the year ended December 31, 2017. Source Date of Number of Start date of exercise Expiry date Exercise price ( € Number of options Sanofi-aventis 12/13/2007 11,988,975 12/14/2011 12/13/2017 62.33 - Sanofi-aventis 03/02/2009 7,736,480 03/04/2013 03/01/2019 45.09 1,679,020 Sanofi-aventis 03/01/2010 8,121,355 03/03/2014 02/28/2020 54.12 2,726,260 Sanofi-aventis 03/09/2011 874,500 03/10/2015 03/09/2021 50.48 242,578 Sanofi 03/05/2012 814,050 03/06/2016 03/05/2022 56.44 528,001 Sanofi 03/05/2013 788,725 03/06/2017 03/05/2023 72.19 531,605 Sanofi 03/05/2014 1,009,250 03/06/2018 03/05/2024 73.48 863,815 Sanofi 06/24/2015 435,000 06/25/2019 06/24/2025 89.38 433,500 Sanofi 05/04/2016 402,750 05/05/2020 05/04/2026 75.90 401,500 Sanofi 05/10/2017 378,040 05/11/2021 05/10/2027 88.97 378,040 Total 7,784,319 The exercise of all outstanding stock subscription options would increase shareholders’ equity by approximately € Summary of stock option plans A summary of stock options outstanding at each balance sheet date, and of movements during the relevant periods, is presented below: Number of Weighted exercise price per share ( € Total ( € Options outstanding at January 1, 2015 25,602,256 61.14 1,565 Options exercisable 22,225,731 60.79 1,351 Options granted 435,000 89.38 39 Options exercised (9,033,607) 63.50 (573) Options cancelled (a) (179,634) 60.04 (11) Options forfeited (956,400) 70.38 (67) Options outstanding at December 31, 2015 15,867,615 60.03 953 Options exercisable 13,028,045 57.56 750 Options granted 402,750 75.90 31 Options exercised (3,441,429) 63.83 (220) Options cancelled (a) (161,863) 68.09 (11) Options forfeited (601,271) 67.00 (40) Options outstanding at December 31, 2016 12,065,802 59.03 713 Options exercisable 9,646,903 54.67 527 Options granted 378,040 88.97 33 Options exercised (3,796,788) 58.92 (224) Options cancelled (a) (130,312) 69.06 (9) Options forfeited (627,722) 62.33 (39) Options outstanding at December 31, 2017 7,889,020 60.08 474 Options exercisable 5,812,165 52.93 308 (a) Mainly due to the grantees leaving Sanofi. The table below provides summary information about options outstanding and exercisable as of December 31, 2017: Outstanding Exercisable Range of exercise prices per share Number of options Average residual life (years) Weighted average exercise price per share ( € Number of options Weighted average exercise price per share ( € From € € 104,701 1.24 38.08 104,701 38.08 From € € 1,679,020 1.16 45.09 1,679,020 45.09 From € € 3,496,839 2.54 54.22 3,496,839 54.22 From € € 1,796,920 6.37 73.64 531,605 72.19 From € € 811,540 8.36 89.19 - - Total 7,889,020 5,812,165 D.15.9. Number of shares used to compute diluted earnings per share Diluted earnings per share is computed using the number of shares outstanding plus stock options with dilutive effect and restricted shares. (million) 2017 2016 2015 Average number of shares outstanding 1,256.9 1,286.6 1,306.2 Adjustment for stock options with dilutive effect 2.7 2.6 6.0 Adjustment for restricted shares 7.2 6.8 8.5 Average number of shares used to compute diluted earnings per share 1,266.8 1,296.0 1,320.7 In 2017, 0.8 million stock options were not taken into account in computing diluted earnings per share because they had no dilutive effect, compared with 2.4 million in 2016 and 0.4 million in 2015. |
Non-controlling Interests
Non-controlling Interests | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Non-controlling Interests | D.16. Non-controlling Non-controlling |
Debt, Cash and Cash Equivalents
Debt, Cash and Cash Equivalents | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Debt, Cash and Cash Equivalents | D.17. Debt, cash and cash equivalents Changes in financial position during the period were as follows: ( € 2017 2016 2015 Long-term debt 14,326 16,815 13,118 Short-term debt and current portion of long-term debt 1,275 1,764 3,436 Interest rate and currency derivatives used to hedge debt (57) (100) (156) Total debt 15,544 18,479 16,398 Cash and cash equivalents (10,315) (10,273) (9,148) Interest rate and currency derivatives used to hedge cash and cash equivalents - - 4 Debt, net of cash and cash equivalents 5,229 8,206 7,254 “Debt, net of cash and cash equivalents” is a financial indicator used by management and investors to measure Sanofi’s overall net indebtedness. Reconciliation of carrying amount to value on redemption Value on redemption ( € Carrying Amortized Adjustment December 31, December 31, December 31, Long-term debt 14,326 64 (81) 14,309 16,765 13,023 Short-term debt and current portion of long-term debt 1,275 - - 1,275 1,764 3,422 Interest rate and currency derivatives used to hedge debt (57) - 50 (7) (10) (35) Total debt 15,544 64 (31) 15,577 18,519 16,410 Cash and cash equivalents (10,315) - - (10,315) (10,273) (9,148) Interest rate and currency derivatives used to hedge cash and cash equivalents - - - - - 4 Debt, net of cash and cash equivalents 5,229 64 (31) 5,262 8,246 7,266 a) Principal financing transactions during the year The table below shows the movement in total debt during the period: Cash flows from financing activities Other Non-cash ( € December 31, Repayments New Currency Reclassification non- current to Other (a) December 31, Long-term debt 16,815 (8) 41 - (300) (2,187) (35) 14,326 Short-term debt and current portion of long-term debt 1,764 (2,360) - 30 (337) 2,187 (9) 1,275 Interest rate and currency derivatives used to hedge debt (100) - - - - - 43 (57) Total debt 18,479 (2,368) 41 30 (637) - (1) 15,544 (a) Includes fair value remeasurements. Sanofi did not carry out any bond issues in 2017. Three borrowings were repaid: ∎ an April 2013 bond issue of $1.5 billion, which was due to mature on April 10, 2018 but was prepaid on September 5, 2017; ∎ a € ∎ a November 2012 fixed-rate bond issue of € Sanofi also had two syndicated credit facilities of € b) Debt, net of cash and cash equivalents by type, at value on redemption 2017 2016 2015 ( € Non- current Current Total Non- current Current Total Non- current Current Total Bond issues 14,195 820 15,015 16,657 823 17,480 12,484 2,991 15,475 Other bank borrowings 81 203 284 61 715 776 477 176 653 Finance lease obligations 20 11 31 34 19 53 49 18 67 Other borrowings 13 4 17 13 4 17 13 9 22 Bank credit balances - 237 237 - 203 203 - 228 228 Interest rate and currency derivatives used to hedge debt (7) - (7) (9) (1) (10) (11) (24) (35) Total debt 14,302 1,275 15,577 16,756 1,763 18,519 13,012 3,398 16,410 Cash and cash equivalents - (10,315) (10,315) - (10,273) (10,273) - (9,148) (9,148) Interest rate and currency derivatives used to hedge cash and cash equivalents - - - - - - - 4 4 Debt, net of cash and cash equivalents 14,302 (9,040) 5,262 16,756 (8,510) 8,246 13,012 (5,746) 7,266 Bond issues carried out by Sanofi under the Euro Medium Term Note (EMTN) program comprise: ∎ October 2009 issue [ISIN: XS0456451771] of € ∎ September 2013 issue [ISIN: FR0011560333] of € ∎ November 2013 issue [ISIN: FR0011625433] of € ∎ September 2014 issue [ISIN: FR0012146751] of € 3-month ∎ September 2014 issue [ISIN: FR0012146777] of € ∎ September 2014 issue [ISIN: FR0012146801] of € € ∎ September 2015 issue [ISIN: FR0012969012] of € 3-month ∎ September 2015 issue [ISIN: FR0012969020] of € ∎ September 2015 issue [ISIN: FR0012969038] of € ∎ April 2016 issue [ISIN: FR0013143989] of € ∎ April 2016 issue [ISIN: FR0013143997] of € ∎ April 2016 issue [ISIN: FR0013144003] of € ∎ September 2016 issue [ISIN: FR0013201613] of € ∎ September 2016 issue [ISIN: FR0013201621] of € ∎ September 2016 issue [ISIN: FR0013201639] of € Bond issues carried out by Sanofi under the public bond issue program (shelf registration statement) registered with the US Securities and Exchange Commission (SEC) comprise: ∎ March 2011 issue [ISIN: US80105NAG07] of $2 billion, maturing March 2021, bearing annual interest at 4%. The US dollar issues have been retained in that currency and have not been swapped into euros. The only outstanding bond issue carried out by Genzyme Corp. is the June 2010 issue [ISIN: US372917AS37] of $500 million, maturing June 2020, bearing annual interest at 5%. The line “Other borrowings” mainly comprises: ∎ participating shares issued between 1983 and 1987, of which 82,698 remain outstanding, with a nominal amount of € ∎ Series A participating shares issued in 1989, of which 3,271 remain outstanding, with a nominal amount of € In order to manage its liquidity needs for current operations, Sanofi has: ∎ a syndicated credit facility of € ∎ a syndicated credit facility of € Sanofi also has two commercial paper programs: a € The financing in place as of December 31, 2017 at the level of the holding company (which manages most of Sanofi’s financing needs centrally) is not subject to any financial covenants, and contains no clauses linking credit spreads or fees to the credit rating. c) Debt by maturity, at value on redemption December 31, 2017 Current Non-current ( € Total 2018 2019 2020 2021 2022 2023 and Bond issues 15,015 820 2,050 2,417 2,168 1,850 5,710 Other bank borrowings 284 203 8 25 4 4 40 Finance lease obligations 31 11 3 2 3 3 9 Other borrowings 17 4 - - - - 13 Bank credit balances 237 237 - - - - - Interest rate and currency derivatives used to hedge debt (7) - (6) (1) - - Total debt 15,577 1,275 2,055 2,443 2,175 1,857 5,772 Cash and cash equivalents (10,315) (10,315) - - - - - Interest rate and currency derivatives used to hedge cash and cash equivalents - - - - - - - Debt, net of cash and cash equivalents 5,262 (9,040) 2,055 2,443 2,175 1,857 5,772 December 31, 2016 Current Non-current ( € Total 2017 2018 2019 2020 2021 2022 and Bond issues 17,480 823 2,174 2,050 2,475 2,398 7,560 Other bank borrowings 776 715 16 8 14 - 23 Finance lease obligations 53 19 13 2 2 3 14 Other borrowings 17 4 - - - - 13 Bank credit balances 203 203 - - - - - Interest rate and currency derivatives used to hedge debt (10) (1) (6) (3) - - - Total debt 18,519 1,763 2,197 2,057 2,491 2,401 7,610 Cash and cash equivalents (10,273) (10,273) - - - - - Interest rate and currency derivatives used to hedge cash and cash equivalents - - - - - - - Debt, net of cash and cash equivalents 8,246 (8,510) 2,197 2,057 2,491 2,401 7,610 December 31, 2015 Current Non-current ( € Total 2016 2017 2018 2019 2020 2021 and Bond issues 15,475 2,991 750 2,128 1,550 1,459 6,597 Other bank borrowings 653 176 438 8 12 14 5 Finance lease obligations 67 18 17 14 7 2 9 Other borrowings 22 9 - - - - 13 Bank credit balances 228 228 - - - - - Interest rate and currency derivatives used to hedge debt (35) (24) (1) (1) (6) (3) - Total debt 16,410 3,398 1,204 2,149 1,563 1,472 6,624 Cash and cash equivalents (9,148) (9,148) - - - - - Interest rate and currency derivatives used to hedge cash and cash equivalents 4 4 - - - - - Debt, net of cash and cash equivalents 7,266 (5,746) 1,204 2,149 1,563 1,472 6,624 As of December 31, 2017, the main undrawn confirmed general-purpose credit facilities at holding company level amounted to € As of December 31, 2017, no single counterparty represented more than 7% of the Sanofi’s undrawn confirmed credit facilities. d) Debt by interest rate, at value on redemption The tables below split debt, net of cash and cash equivalents between fixed and floating rate, and by maturity or contractual repricing date, as of December 31, 2017. The figures shown are values on redemption, before the effects of derivative instruments: ( € Total 2018 2019 2020 2021 2022 2023 and Fixed-rate debt 13,513 75 1,294 2,416 2,168 1,850 5,710 of which euro 11,418 of which US dollar 2,095 % fixed-rate 87% Floating-rate debt (maturity based on contractual repricing date) 2,064 2,064 - - - - - of which euro 1,550 of which US dollar 45 % floating-rate 13% Debt 15,577 2,139 1,294 2,416 2,168 1,850 5,710 Cash and cash equivalents (10,315) (10,315) of which euro (8,205) of which US dollar (1,653) % floating-rate 100% Debt, net of cash and cash equivalents 5,262 (8,176) 1,294 2,416 2,168 1,850 5,710 Sanofi manages its net debt in two currencies: the euro and the US dollar. The floating-rate To optimize the cost of debt and/or reduce the volatility of debt, Sanofi uses derivative instruments (interest rate swaps, cross currency swaps and interest rate options) that alter the fixed/floating rate split of debt and the maturity based on contractual repricing dates, as shown below: ( € Total 2018 2019 2020 2021 2022 2023 and Fixed-rate debt 9,746 75 (256) 1,999 2,168 50 5,710 of which euro 8,068 of which US dollar 1,678 % fixed-rate 63% Floating-rate debt (maturity based on contractual repricing date) 5,831 5,831 - - - - - of which euro 4,900 of which US dollar 462 % floating-rate 37% Debt 15,577 5,906 (256) 1,999 2,168 50 5,710 Cash and cash equivalents (10,315) (10,315) of which euro (8,205) of which US dollar (1,653) % floating-rate 100% Debt, net of cash and cash equivalents 5,262 (4,409) (256) 1,999 2,168 50 5,710 The table below shows the fixed/floating rate split of debt, net of cash and cash equivalents at value on redemption after taking account of derivative instruments as of December 31, 2016 and 2015: ( € 2016 % 2015% Fixed-rate debt 13,651 74% 10,435 64% Floating-rate debt 4,868 26% 5,975 36% Debt 18,519 100% 16,410 100% Cash and cash equivalents (10,273) (9,144) Debt, net of cash and cash equivalents 8,246 7,266 The weighted average interest rate on debt as of December 31, 2017 was 1.7% before derivative instruments and 1.4% after derivative instruments. All cash and cash equivalents were invested at an average rate of 0.3% as of December 31, 2017. The projected full-year Change in euro and US dollar short-term Impact on pre-tax net income ( € Impact on pre-tax income/(expense) recognized directly in equity € +100 bp 45 - +25 bp 11 - -25 bp (11) - -100 bp (45) - e) Debt by currency, at value on redemption The table below shows debt, net of cash and cash equivalents by currency at December 31, 2017, before and after derivative instruments contracted to convert third party debt into the functional currency of the borrowing entity: ( € Before derivative instruments After derivative instruments Euro 4,763 4,763 US dollar 487 487 Indian rupee (150) (150) Saudi riyal 102 102 Algerian dinar 138 138 Other currencies (78) (78) Debt, net of cash and cash equivalents 5,262 5,262 The table below shows debt, net of cash and cash equivalents by currency at December 31, 2016 and 2015, after derivative instruments contracted to convert third party debt into the functional currency of the borrowing entity: ( € 2016 2015 Euro 6,460 3,356 US dollar 2,565 4,221 Other currencies (779) (311) Debt, net of cash and cash equivalents 8,246 7,266 f) Market value of debt The market value of debt, net of cash and cash equivalents and of derivatives and excluding accrued interest, was € € € € € € The fair value of debt is determined by reference to quoted market prices at the balance sheet date in the case of quoted instruments (level 1 in the IFRS 7 hierarchy, see Note D.12.), and by reference to the fair value of interest rate and currency derivatives used to hedge debt (level 2 in the IFRS 7 hierarchy, see Note D.12.). g) Future contractual cash flows relating to debt and debt hedging instruments The table below shows the amount of future undiscounted contractual cash flows (principal and interest) relating to debt and to derivative instruments designated as hedges of debt: December 31, 2017 Payments due by period ( € Total 2018 2019 2020 2021 2022 2023 and Debt 16,682 1,441 2,301 2,650 2,307 1,950 6,033 principal 15,509 1,201 2,062 2,444 2,175 1,857 5,770 interest (a) 1,173 240 239 206 132 93 263 Net cash flows related to derivative instruments (51) (38) (32) 1 8 10 - Total 16,631 1,403 2,269 2,651 2,315 1,960 6,033 (a) Interest flows are estimated on the basis of forward interest rates applicable as of December 31, 2017. Future contractual cash flows are shown on the basis of the carrying amount in the balance sheet at the reporting date, without reference to any subsequent management decision that might materially alter the structure of Sanofi’s debt or its hedging policy. The tables below show the amount of future undiscounted contractual cash flows (principal and interest) relating to debt and to derivative instruments designated as hedges of debt as of December 31, 2016 and 2015: December 31, 2016 Payments due by period ( € Total 2017 2018 2019 2020 2021 2022 and Debt 19,937 1,951 2,477 2,304 2,708 2,537 7,960 Principal 18,451 1,678 2,217 2,054 2,491 2,401 7,610 Interest (a) 1,486 273 260 250 217 136 350 Net cash flows related to derivative instruments (104) (42) (33) (29) (2) 1 1 Total 19,833 1,909 2,444 2,275 2,706 2,538 7,961 (a) Interest flows are estimated on the basis of forward interest rates applicable as of December 31, 2016. December 31, 2015 Payments due by period ( € Total 2016 2017 2018 2019 2020 2021 and Debt 17,960 3,653 1,471 2,389 1,794 1,668 6,985 Principal 16,325 3,308 1,215 2,146 1,564 1,472 6,620 Interest (a) 1,635 345 256 243 230 196 365 Net cash flows related to derivative instruments (165) (78) (38) (26) (21) (2) - Total 17,795 3,575 1,433 2,363 1,773 1,666 6,985 (a) Interest flows are estimated on the basis of forward interest rates applicable as of December 31, 2015. |
Liabilities related to business
Liabilities related to business combinations and to non-controllinginterests | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Liabilities related to business combinations and to non-controllinginterests | D.18. Liabilities related to business combinations and to non-controlling For a description of the nature of the liabilities reported in the line item Liabilities related to business combinations and to non-controlling The liabilities related to business combinations and to non-controlling Movements in liabilities related to business combinations and to non-controlling ( € Liabilities non-controlling (a) CVRs (b) Bayer MSD contingent Other Total (d) Balance at January 1, 2015 178 154 896 - 36 1,264 Payments made - - (63) - (7) (70) Fair value remeasurements through profit or loss: (gain)/loss (including unwinding of discount) (c) - (143) 104 - (14) (53) Other movements (5) - - - (11) (16) Currency translation differences 8 13 103 - 2 126 Balance at December 31, 2015 181 24 1,040 - 6 1,251 New business combinations - - - 354 - 354 Payments made - - (137) - (3) (140) Fair value remeasurements through profit or loss: (gain)/loss (including unwinding of discount) (c) - 58 78 - (1) 135 Other movements (58) - - - - (58) Currency translation differences - 3 32 - (1) 34 Balance at December 31, 2016 123 85 1,013 354 1 1,576 New business combinations (e) - - - - 85 85 Payments made - - (165) - (61) (226) Fair value remeasurements through profit or loss: (gain)/loss (including unwinding of discount) (c) - 1 (28) 71 (1) 43 Other movements (28) - - - 57 29 Currency translation differences (3) (11) (119) (5) - (138) Balance at December 31, 2017 92 75 701 420 81 1,369 (a) Includes put options granted to non-controlling non-controlling (b) Based on the quoted market price per CVR of $0.38 as of December 31, 2017 and 2016, and $0.11 as of December 31, 2015. (c) Amounts reported within the income statement line item Fair value remeasurement of contingent consideration , and mainly comprising unrealized gains and losses. (d) Portion due after more than one year: € € € € € € (e) Two potential payments of € As of December 31, 2017, Liabilities related to business combinations and to non-controlling The Bayer contingent consideration liability arising from the acquisition of Genzyme in 2011. As of December 31, 2017, Bayer was still entitled to receive the following potential payments: ∎ a percentage of sales of alemtuzumab up to a maximum of $1,250 million or over a maximum period of ten years, whichever is achieved first; and ∎ milestone payments based on specified levels of worldwide sales of alemtuzumab beginning in 2021, unless Genzyme exercises its right to buy out those milestone payments by making a one-time The fair value of this liability was measured at € € The MSD contingent consideration liability arising from the 2016 acquisition of the Sanofi Pasteur activities carried on within the former Sanofi Pasteur MSD joint venture, which amounted to € The table below sets forth the maximum amount of contingent consideration payable and firm commitments to buy out non-controlling December 31, 2017 Payments due by period ( € Total Less than 1 year From 1 to 3 years From 3 to 5 years More than 5 years Commitments relating to contingent consideration in connection with business combinations (a) non-controlling (b) 4,293 354 2,630 1,069 240 (a) Includes € € € € € € (b) This line does not include put options granted to non-controlling Total commitments relating to contingent consideration in connection with business combinations and buyouts of non-controlling € € |
Provisions and other liabilitie
Provisions and other liabilities | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Provisions and other liabilities | D.19. Provisions and other liabilities Non-current non-current ( € Provisions Provisions Restructuring Other Other non-current (D.19.4.) Total Balance at January 1, 2015 4,873 650 835 3,076 144 9,578 Changes in scope of consolidation - - - 13 - 13 Increases in provisions and other liabilities 290 (a) 108 265 475 (b) 114 1,252 Provisions utilized (366) (a) (73) (16) (130) - (585) Reversals of unutilized provisions (39) (a) (7) (12) (256) (c) (1) (315) Transfers 43 3 (317) (57) - (328) Reclassification of the Animal Health business (e) (76) (34) (3) (34) (2) (149) Net interest related to employee benefits, and unwinding of discount 109 5 5 37 2 158 Unrealized gains and losses - - - - 5 5 Currency translation differences 124 26 5 22 13 190 Actuarial gains and losses on defined-benefit plans (d) (650) - - - - (650) Balance at December 31, 2015 4,308 678 762 3,146 275 9,169 Increases in provisions and other liabilities 220 (a) 130 475 402 (b) - 1,227 Provisions utilized (294) (a) (86) (7) (195) (2) (584) Reversals of unutilized provisions 1 (a) (11) (39) (458) (c) - (507) Transfers (85) (6) (450) (182) (67) (790) Net interest related to employee benefits, and unwinding of discount 108 6 4 29 2 149 Currency translation differences 10 9 (1) 35 8 61 Actuarial gains and losses on defined-benefit plans (d) 109 - - - - 109 Balance at December 31, 2016 4,377 720 744 2,777 216 8,834 Changes in scope of consolidation 86 3 - 13 3 105 Increases in provisions and other liabilities 269 (a) 163 105 680 (b) 866 2,083 Provisions utilized (732) (a) (97) (7) (137) (8) (981) Reversals of unutilized provisions (18) (a) (5) (42) (308) (c) - (373) Transfers 16 1 (282) (58) (7) (330) Net interest related to employee benefits, and unwinding of discount 87 4 3 27 4 125 Unrealized gains and losses - - - 1 5 6 Currency translation differences (156) (39) (7) (114) (29) (345) Actuarial gains and losses on defined-benefit plans (d) 30 - - - - 30 Balance at December 31, 2017 3,959 750 514 2,881 1,050 9,154 (a) In the case of “Provisions for pensions and other post-employment benefits”, the “Increases in provisions and other liabilities” line corresponds to rights vesting in employees during the period, and past service cost; the “Provisions utilized” line corresponds to contributions paid into pension funds, and plan settlements; and the “Reversals of unutilized provisions” line corresponds to plan curtailments. (b) Amounts charged during the period mainly comprise provisions to cover tax exposures in various countries, and changes to estimates of future expenditures on environmental risks. (c) These reversals relate mainly to provisions for tax exposures, reversed either because (i) the statute of limitations deadline was reached during the reporting period or (ii) proceedings with tax authorities in various countries were resolved during the period with a more favorable outcome than initially anticipated. (d) Amounts recognized in Other comprehensive income (see Note D.15.7.). (e) This line comprises the relevant liabilities of the Animal Health business, reclassified as of December 31, 2015 to Liabilities related to assets held for sale or exchange , in accordance with IFRS 5 (see Notes D.1. and D.36.). Other current liabilities are described in Note D.19.5. D.19.1. Provisions for pensions and other post-employment benefits Sanofi offers its employees pension plans and other post-employment benefit plans. The specific features of the plans (benefit formulas, fund investment policy and fund assets held) vary depending on the applicable laws and regulations in each country where the employees work. These employee benefits are accounted for in accordance with the revised IAS 19 (see Note B.23.). Sanofi’s pension obligations in four major countries represented nearly 90% of the total value of the defined-benefit obligation and nearly 89% of the total value of plan assets as of December 31, 2017. The features of the principal defined-benefit plans in each of those four countries are described below. France Lump-sum All employees working for Sanofi in France are entitled on retirement to a lump-sum lump-sum Defined-benefit pension plans These plans provide benefits from the date of retirement. Employees must fulfil a number of criteria to be eligible for these benefits. All but one of the plans are closed to new entrants. These plans represent approximately 66% of the Group’s total obligations in France. Germany Top-up The benefits offered under this pension plan are wholly funded by the employer (there are no employee contributions) via a Contractual Trust Agreement (CTA), under which benefits are estimated on the basis of an average career salary. Employees are entitled to receive an annuity under this plan if their salary exceeds the social security ceiling. The amount of the pension is calculated by reference to a range of vesting rates corresponding to salary bands. The plan also includes disability and death benefits. This plan represents approximately 69% of Sanofi’s total obligation in Germany. Sanofi-Aventis plus (SAV plus) Starting April 2015, a new top-up top-up All employees whose salary exceeds the social security ceiling are automatically covered by the plan. The employer’s contribution is 15% of the amount by which the employee’s salary exceeds the social security ceiling. Multi-employer plan ( Pensionskasse This is a defined-benefit plan that is treated as a defined-contribution plan, in accordance with the accounting policies described in Note B.23. Currently, contributions cover the level of annuities. Only the portion relating to the future revaluation of the annuities is included in the defined-benefit pension obligation. The obligation relating to this revaluation amounted to € € € United States Defined-benefit pension plans In the United States, there are two types of defined-benefit plan: ∎ “Qualified” plans within the meaning of the Employee Retirement Income Security Act of 1974 (ERISA), which provide guaranteed benefits to eligible employees during retirement, and in the event of death or disability. Employees can elect to receive a reduced annuity, in exchange for an annuity to be paid in the event of their death to a person designated by them. An annuity is also granted under the plan if the employee dies before retirement age. Eligible employees do not pay any contributions. These plans are closed to new entrants, and the vesting of rights for future service periods is partially frozen. They represent around 65% of Sanofi’s total obligation in the United States. ∎ “Non-qualified” top-up Healthcare cover and life insurance Sanofi companies provide some eligible employees with healthcare cover and life insurance during the retirement period (the company’s contributions are capped at a specified level). This plan represents approximately 26% of Sanofi’s total obligation in the United States. United Kingdom Defined-benefit pension plans Sanofi operates a number of pension plans in the United Kingdom that reflect past acquisitions. The two most significant arrangements are the Sanofi plan and the Genzyme Limited plan; both are defined-benefit plans, and both have been closed since October 1, 2015. With effect from that date, employees can no longer pay into these plans. The Genzyme Limited plan was merged with the Sanofi plan effective January 1, 2017. Under these defined-benefit plans, an annuity is paid from the retirement date. This annuity is calculated on the basis of the employee’s length of service as of September 30, 2015, and of the employee’s final salary (or salary on the date he or she leaves Sanofi). The rates used for the vesting of rights vary from member to member. For most members, rights vest at the rate of 1.25% or 1.50% of final salary for each qualifying year of service giving entitlement. The notional retirement age varies according to the category to which the member belongs, but in most cases retirement is at age 65. Members may choose to retire before or after the notional retirement age (60 years), in which case the amount of the annual pension is adjusted to reflect the revised estimate of the length of the retirement phase. Pensions are usually indexed to the Retail Price Index (RPI). Members paid a fixed-percentage contribution into their pension plan (the percentage varied according to the employee category), and the employer topped up the contribution to the required amount. These plans represent approximately 99% of Sanofi’s total obligation in the United Kingdom. For service periods subsequent to October 1, 2015, employees belong to a new defined-contribution plan. Actuarial assumptions used to measure Sanofi’s obligations Actuarial valuations of Sanofi’s benefit obligations were computed by management with assistance from external actuaries as of December 31, 2017, 2016 and 2015. Those calculations were based on the following financial and demographic assumptions: 2017 2016 2015 France Germany USA UK France Germany USA UK France Germany USA UK Discount rate (a)/(b) 0.75% or 1.25% 0.75% or 1.25% 3.50% 2.50% 1.00% or 1.50% 1.00% or 1.50% 4.00% 2.75% 1.50% or 2.25% 1.50% or 2.25% 4.00% 4.00% General inflation rate (c) 1.50% 1.50% 2.00% 3.10% 1.50% 1.50% 2.00% 3.15% 1.75% 1.75% 2.25% 3.15% Pension benefit indexation 1.25% to 2.25% 1.50% - 3.10% 1.25% to 2.25% 1.75% - 3.15% 1.25% to 2.25% 1.75% - 3.15% Healthcare cost inflation rate 2.00% - (d) 5.81% 1.50% 2.00% - (d) 5.96% 1.50% 2.00% - (d) 6.10% 1.50% Retirement age 62 to 67 62 55 to 70 60 62 to 67 62 55 to 70 60 62 to 67 62 55 to 70 60 Mortality table TGH/ TGF 05 Heubeck RT 2005 G RP2014 G. Scale MP2017 SAPS S2 TGH/ TGF 05 Heubeck RT 2005 G RP2014 G. Scale MP2016 SAPS S2 TGH/ TGF 05 Heubeck RT 2005 G RP2014 G. Scale MP2015 SAPS S2 (a) The discount rates used were based on market rates for high quality corporate bonds with a duration close to that of the expected benefit payments under the plans. The benchmarks used to determine discount rates were the same in 2017, 2016 and 2015. (b) The rate depends on the duration of the plan (7 to 10 years and more than 10 years, respectively). (c) Inflation for the euro zone is determined using the average break-even inflation rate of French and German government bonds, by reference to the duration of the principal plans. (d) No post-employment healthcare benefits are provided in Germany. Weighted average duration of obligation for pensions and other long-term benefits in principal countries The table below shows the duration of Sanofi’s obligations in the principal countries: 2017 2016 2015 (years) France Germany USA UK France Germany USA UK France Germany USA UK Weighted average duration 13 15 14 17 13 14 13 17 13 14 14 17 Sensitivity analysis The table below shows the sensitivity of Sanofi’s obligations for pensions and other post-employment benefits to changes in key actuarial assumptions: ( € Pensions and other post-employment benefits, by principal country Measurement of defined-benefit obligation Change in France Germany USA UK Discount rate -0.50% +156 +254 +190 +266 General inflation rate +0.50% +34 +343 +2 +206 Pension benefits indexation +0.50% +88 +332 +2 +147 Healthcare cost inflation rate +0.50% - - +35 - Mortality table +1 year +59 +93 +71 +115 The table below reconciles the net obligation in respect of Sanofi’s pension and other post-employment benefit plans with the amounts recognized in the consolidated financial statements: Pensions and other ( € 2017 2016 2015 Measurement of the obligation: Beginning of period 13,088 12,825 13,302 Reclassification of the Animal Health business (a) - - (266) Service cost 233 216 262 Interest cost 293 359 362 Actuarial losses/(gains) due to changes in demographic assumptions (74) (71) (37) Actuarial losses/(gains) due to changes in financial assumptions 543 928 (679) Actuarial losses/(gains) due to experience adjustments 61 (18) (13) Plan amendments 33 (2) 18 Plan curtailments 2 (52) (39) Plan settlements specified in the terms of the plan (108) (49) (61) Plan settlements not specified in the terms of the plan (90) (254) (6) Benefits paid (574) (531) (556) Changes in scope of consolidation and transfers 145 71 36 Currency translation differences (540) (334) 502 Obligation at end of period 13,012 13,088 12,825 Fair value of plan assets: Beginning of period 8,741 8,566 8,488 Reclassification of the Animal Health business (a) - - (208) Interest income on plan assets 206 251 254 Difference between actual return and interest income on plan assets 501 730 (79) Administration costs (9) (9) (13) Plan settlements specified in the terms of the plan (109) (49) (61) Plan settlements not specified in the terms of the plan (70) (256) (6) Contributions from plan members 6 3 4 Employer’s contributions 582 168 225 Benefits paid (424) (405) (415) Changes in scope of consolidation and transfers 66 86 - Currency translation differences (384) (344) 377 Fair value of plan assets at end of period 9,106 8,741 8,566 Net amount shown in the balance sheet: Net obligation 3,906 4,347 4,259 Net amount shown in the balance sheet at end of period 3,906 4,347 4,259 Pensions and other post-employment benefits ( € 2017 2016 2015 Amounts recognized in the balance sheet: Pre-funded (53) (30) (49) Obligations provided for 3,959 4,377 4,308 Net amount recognized at end of period 3,906 4,347 4,259 Benefit cost for the period: Service cost 233 216 262 Past service cost 33 (2) 18 Net interest (income)/cost 87 108 108 (Gains)/losses on plan settlements not specified in the terms of the plan (20) 2 - Actuarial (gains)/losses on plan curtailments 2 (52) (39) Contributions from plan members (6) (3) (4) Administration costs and taxes paid during the period 9 9 13 Expense recognized directly in profit or loss 338 278 358 Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses) 30 109 (650) Expense/(gain) for the period 368 387 (292) (a) This line comprises the relevant assets and liabilities of the Animal Health business, reclassified as of December 31, 2015 to Assets held for sale or exchange and Liabilities related to assets held for sale or exchange , respectively, in accordance with IFRS 5 (see Notes D.1. and D.36.). The tables below show Sanofi’s net liability in respect of pension plans and other post-employment benefits by geographical region: December 31, 2017 Pensions and other post-employment ( € France Germany USA UK Other Total Measurement of obligation 2,363 3,611 2,699 3,032 1,307 13,012 Fair value of plan assets 991 2,390 1,775 2,926 1,024 9,106 Net amount shown in the balance sheet at end of period 1,372 1,221 924 106 283 3,906 December 31, 2016 Pensions and other post-employment benefits by geographical region ( € France Germany USA UK Other Total Measurement of obligation 2,361 3,535 2,874 3,065 1,253 13,088 Fair value of plan assets 857 2,304 1,760 2,866 954 8,741 Net amount shown in the balance sheet at end of period 1,504 1,231 1,114 199 299 4,347 December 31, 2015 Pensions and other post-employment benefits by geographical region ( € France Germany USA UK Other Total Measurement of obligation 2,270 3,502 2,986 2,948 1,119 12,825 Fair value of plan assets 841 2,216 1,806 2,852 851 8,566 Net amount shown in the balance sheet at end of period 1,429 1,286 1,180 96 268 4,259 The table below shows the fair value of plan assets relating to Sanofi’s pension and other post-employment plans, split by asset category: 2017 2016 2015 Securities quoted in an active market 98.0% 98.2% 97.0% Cash and cash equivalents 2.2% 2.4% 2.7% Equity instruments 25.2% 35.2% 35.6% Bonds and similar instruments 64.1% 54.3% 52.8% Real estate 3.3% 3.8% 3.5% Derivatives 0.1% (0.1)% 0.3% Commodities 0.8% 1.3% 1.0% Other 2.3% 1.3% 1.1% Other securities 2.0% 1.8% 3.0% Hedge funds 0.1% - 1.5% Insurance policies 1.9% 1.8% 1.5% Total 100.0% 100.0% 100.0% Sanofi has a long-term objective of maintaining or increasing the extent to which its pension obligations are covered by assets. To this end, Sanofi uses an asset-liability management strategy, matching plan assets to its pension obligations. This policy aims to ensure the best fit between the assets held on the one hand, and the associated liabilities and expected future payments to plan members on the other. To meet this aim, Sanofi operates a risk monitoring and management strategy (mainly focused on interest rate risk and inflation risk), while investing a growing proportion of assets in high-quality bonds with comparable maturities to those of the underlying obligations. The tables below show the service cost for Sanofi’s pension and other post-employment benefit plans, by geographical region: ( € Pensions and other post-employment benefits by geographical region Service cost for 2017 France Germany USA UK Other Total Current service cost 74 50 53 - 56 233 Past service cost - - 36 - (3) 33 Net interest cost/(income) including administration costs and taxes paid during the period 22 16 40 8 10 96 (Gains)/losses on plan settlements not specified in the terms of the plan (17) - - - (3) (20) Actuarial (gains)/losses on plan curtailments (6) 7 8 - (7) 2 Contributions from plan members - - - - (6) (6) Expense recognized directly in profit or loss 73 73 137 8 47 338 Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses) 35 (33) 77 (48) (1) 30 Expense/(gain) for the period 108 40 214 (40) 46 368 ( € Pensions and other post-employment benefits by geographical region Service cost for 2016 France Germany USA UK Other Total Current service cost 70 42 62 - 42 216 Past service cost - - - - (2) (2) Net interest cost/(income) including administration costs and taxes paid during the period 30 23 48 6 10 117 (Gains)/losses on plan settlements not specified in the terms of the plan - - (2) - 4 2 Actuarial (gains)/losses on plan curtailments (51) 2 - - (3) (52) Contributions from plan members - - - - (3) (3) Expense recognized directly in profit or loss 49 67 108 6 48 278 Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses) 70 1 (161) 165 34 109 Expense/(gain) for the period 119 68 (53) 171 82 387 ( € Pensions and other post-employment benefits by geographical region Service cost for 2015 France Germany USA UK Other Total Current service cost 78 47 74 14 49 262 Past service cost 16 1 - - 1 18 Net interest cost/(income) including administration costs and taxes paid during the period 28 23 44 13 13 121 (Gains)/losses on plan settlements not specified in the terms of the plan - - - - - - Actuarial (gains)/losses on plan curtailments (38) - - - (1) (39) Contributions from plan members - - - (1) (3) (4) Expense recognized directly in profit or loss 84 71 118 26 59 358 Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses) (235) (211) (30) (144) (30) (650) Expense/(gain) for the period (151) (140) 88 (118) 29 (292) There were no significant events affecting Sanofi’s pension and other post-employment benefit plans during 2017. An analysis of the “Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses)” line in the preceding tables is set forth below: 2017 2016 2015 ( € France Germany USA UK France Germany USA UK France Germany USA UK Actuarial gains/(losses) arising during the period (a) (35) 33 (77) 48 (70) (1) 161 (165) 235 210 30 144 Comprising: Gains/(losses) on experience adjustments (b) 35 159 76 114 58 149 77 442 26 16 (116) 9 Gains/(losses) on demographic assumptions - - 20 53 (6) - 79 - 10 - 46 (21) Gains/(losses) on financial assumptions (70) (126) (173) (119) (122) (150) 5 (607) 199 194 100 156 (a) Gains and losses arising from changes in assumptions are due primarily to changes in the discount rate. (b) Experience adjustments are mainly due to the effect of trends in the financial markets on plan assets. The net pre-tax € € € The present value of Sanofi’s wholly or partially funded obligations in respect of pension and other post-employment benefit plans as of December 31, 2017 was € € € € € € The total expense for pensions and other post-employment benefits is allocated between income statement line items as follows: ( € 2017 2016 2015 Cost of sales 63 60 73 Research and development expenses 48 48 58 Selling and general expenses 95 113 132 Restructuring costs 45 (51) (13) Financial expenses 87 108 108 Total 338 278 358 The estimated amounts of employer’s contributions to plan assets in 2018 are as follows: ( € France Germany USA UK Other Total Employer’s contributions in 2018 (estimate): 2018 5 36 - 45 50 136 The table below shows the expected timing of benefit payments under pension and other post-employment benefit plans for the next ten years: ( € France Germany USA UK Other Total Estimated future benefit payments: 2018 108 202 181 127 58 676 2019 90 208 134 131 54 617 2020 111 213 137 135 58 654 2021 118 217 140 139 59 673 2022 91 223 135 143 60 652 2023 to 2027 661 1,128 690 784 357 3,620 The table below shows estimates as of December 31, 2017 for the timing of future payments in respect of unfunded pension and other post-employment benefit plans: Payments due by period ( € Total Less than 1 year 1 to 3 years 3 to 5 years More than 5 years Estimated payments 1,097 56 108 116 817 D.19.2. Restructuring provisions The table below shows movements in restructuring provisions classified in non-current ( € 2017 2016 2015 Balance, beginning of period 1,420 1,343 1,399 of which: ∎ non-current 744 762 835 ∎ 676 581 564 Change in provisions recognized in profit or loss for the period 297 667 508 Provisions utilized (616) (641) (570) Transfers 7 38 - Reclassification of the Animal Health business (a) - - (12) Unwinding of discount 3 4 6 Currency translation differences (25) 9 12 Balance, end of period 1,086 1,420 1,343 Including: ∎ non-current 514 744 762 ∎ 572 676 581 (a) This line comprises the restructuring provisions of the Animal Health business, reclassified to Liabilities related to assets held for sale or exchange as of December 31, 2015 (see Notes D.1. and D.36.). Provisions for employee termination benefits as of December 31, 2017 amounted to € € € € € € The provision for France includes the present value of gross self-funded annuities under various early retirement plans (including ongoing plans, and a new plan implemented at the end of 2016), plus social security charges and levies associated with those annuities and with annuities funded by external bodies. The average residual holding periods under these plans were 2.12 years, 2.51 years and 2.64 years as of December 31, 2017, 2016 and 2015, respectively. As in 2016, no premiums were paid during 2017 in respect of externally-funded annuities; the impact of reforms on existing externally-funded plans ended in 2015, and all plans implemented since 2011 have been self-funded. This compares with € The timing of future termination benefit payments is as follows: December 31, 2017 Benefit payments by period ( € Total Less than 1 1 to 3 years 3 to 5 years More than 5 Employee termination benefits ∎ 588 257 281 49 1 ∎ 274 197 70 5 2 Total 862 454 351 54 3 December 31, 2016 Benefit payments by period ( € Total Less than 1 year 1 to 3 years 3 to 5 years More than 5 years Employee termination benefits ∎ 933 374 413 142 4 ∎ 226 182 35 4 5 Total 1,159 556 448 146 9 December 31, 2015 Benefit payments by period ( € Total Less than 1 year 1 to 3 years 3 to 5 years More than 5 years Employee termination benefits ∎ 772 286 351 120 15 ∎ 258 197 56 2 3 Total 1,030 483 407 122 18 Restructuring provisions as of December 31, 2017 also include € € D.19.3. Other provisions Other provisions include provisions for risks and litigation relating to environmental, tax, commercial and product liability matters. ( € 2017 2016 2015 Tax exposures 1,031 1,077 1,530 Environmental risks and remediation 686 732 708 Product liability risks, litigation and other 1,164 968 908 Total 2,881 2,777 3,146 Provisions for tax exposures are recorded when Sanofi is exposed to a probable risk resulting from a tax position adopted by the company or a subsidiary, and the risk has been quantified at the end of the reporting period, in accordance with the principles described in Note B.22. Provisions for environmental risks and remediation mainly relate to contingencies arising from business divestitures. Identified environmental risks are covered by provisions estimated on the basis of the costs Sanofi believes it will be obliged to meet over a period not exceeding (other than in exceptional cases) 30 years. Sanofi expects that € € “Product liability risks, litigation and other” mainly comprises provisions for risks relating to product liability (including IBNR provisions as described in Note B.12.), government investigations, regulatory or antitrust law claims, or contingencies arising from business divestitures (other than environmental risks). The main pending legal and arbitral proceedings and government investigations are described in Note D.22. A full risk and litigation assessment is performed with the assistance of Sanofi’s legal advisers, and provisions are recorded as required by circumstances in accordance with the principles described in Note B.12. D.19.4. Other non-current Other non-current € € € As of December 31, 2017, a liability of € € non-current € D.19.5. Current provisions and other current liabilities Current provisions and other current liabilities comprise the following: ( € 2017 2016 2015 Taxes payable 1,180 (a) 1,134 1,044 Employee-related liabilities 1,922 1,967 1,920 Restructuring provisions (see Note D.19.2.) 572 676 581 Interest rate derivatives (see Note D.20.) - 2 4 Currency derivatives (see Note D.20.) 58 130 78 Amounts payable for acquisitions of non-current 387 451 684 Other current liabilities 5,087 5,815 5,131 Total 9,206 10,175 9,442 (a) See note D.19.4. “Other current liabilities” includes in particular the current portion of provisions for litigation, sales returns and other risks; amounts due to investments accounted for using the equity method (see Note D.6.); and amounts due to governmental agencies and healthcare authorities (see Note D.23.). |
Derivative financial instrument
Derivative financial instruments and market risks | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Derivative financial instruments and market risks | D.20. Derivative financial instruments and market risks The table below shows the fair value of derivative instruments as of December 31, 2017, 2016 and 2015: ( € Non-current Current Total Non-current Current Total Fair value at Fair value at Fair value at Currency derivatives - 133 133 (4) (58) (62) 71 (22) (19) operating - 28 28 - (25) (25) 3 (25) 16 financial - 105 105 (4) (33) (37) 68 3 (35) Interest rate derivatives 63 - 63 (12) - (12) 51 100 152 Total 63 133 196 (16) (58) (74) 122 78 133 Objectives of the use of derivative financial instruments Sanofi uses derivative instruments to manage operating exposure to movements in exchange rates, and financial exposure to movements in interest rates and exchange rates (where the debt or receivable is not contracted in the functional currency of the borrower or lender entity). On occasion, Sanofi uses equity derivatives in connection with the management of its portfolio of equity investments. Sanofi performs periodic reviews of its transactions and contractual agreements in order to identify any embedded derivatives, which are accounted for separately from the host contract in accordance with IAS 39. Sanofi had no material embedded derivatives as of December 31, 2017, 2016 or 2015. Counterparty risk As of December 31, 2017, all currency and interest rate hedges were contracted with leading banks, and no single counterparty accounted for more than 16% of the notional amount of Sanofi’s overall currency and interest rate positions. a) Currency derivatives used to manage operating risk exposures Sanofi operates a foreign exchange risk hedging policy to reduce the exposure of operating income to exchange rate movements. This policy involves regular assessments of Sanofi’s worldwide foreign currency exposure, based on foreign currency transactions carried out by the parent company and its subsidiaries. Those transactions mainly comprise sales, purchases, research costs, co-marketing co-promotion The table below shows operating currency hedging instruments in place as of December 31, 2017, with the notional amount translated into euros at the relevant closing exchange rate: December 31, 2017 Of which derivatives designated as Of which derivatives not ( € Notional Fair Notional Fair Of which Notional Fair value Forward currency sales 3,592 11 - - - 3,592 11 of which US dollar 1,043 15 - - - 1,043 15 of which Singapore dollar 870 1 - - - 870 1 of which Chinese yuan renminbi 327 (1) - - - 327 (1) of which Japanese yen 248 1 - - - 248 1 of which Saudi riyal 144 2 - - - 144 2 Forward currency purchases 1,649 (8) - - - 1,649 (8) of which Japanese yen 373 (3) - - - 373 (3) of which Singapore dollar 360 (4) - - - 360 (4) of which US dollar 205 (2) - - - 205 (2) of which Chinese yuan renminbi 196 - - - - 196 - of which Hungarian forint 81 1 - - - 81 1 Total 5,241 3 - - - 5,241 3 The above positions mainly hedge future material foreign-currency The table below shows operating currency hedging instruments in place as of December 31, 2016, with the notional amount translated into euros at the relevant closing exchange rate: December 31, 2016 Of which derivatives designated Of which derivatives not ( € Notional Fair Notional Fair Of which Notional Fair value Forward currency sales 3,963 (25) - - - 3,963 (25) of which US dollar 1,850 (17) - - - 1,850 (17) of which Chinese yuan renminbi 453 (2) - - - 453 (2) of which Swiss franc 253 (1) - - - 253 (1) of which Japanese yen 206 5 - - - 206 5 of which Singapore dollar 156 1 - - - 156 1 Forward currency purchases 1,517 - - - - 1,517 - of which US dollar 400 1 - - - 400 1 of which Japanese yen 283 (2) - - - 283 (2) of which Singapore dollar 233 1 - - - 233 1 of which Swiss franc 84 - - - - 84 - of which Hungarian forint 82 - - - - 82 - Total 5,480 (25) - - - 5,480 (25) The table below shows operating currency hedging instruments in place as of December 31, 2015, with the notional amount translated into euros at the relevant closing exchange rate: December 31, 2015 Of which derivatives designated as Of which derivatives not ( € Notional Fair Notional Fair Of which Notional Fair value Forward currency sales 2,142 27 - - - 2,142 27 of which US dollar 672 (2) - - - 672 (2) of which Chinese yuan renminbi 339 1 - - - 339 1 of which Japanese yen 159 (1) - - - 159 (1) of which Russian rouble 130 22 - - - 130 22 of which Singapore dollar 114 - - - - 114 - Forward currency purchases 905 (11) - - - 905 (11) of which US dollar 204 - - - - 204 - of which Russian rouble 109 (9) - - - 109 (9) of which Singapore dollar 104 (1) - - - 104 (1) of which Hungarian forint 90 (1) - - - 90 (1) of which Chinese yuan renminbi 86 2 - - - 86 2 Total 3,047 16 - - - 3,047 16 b) Currency and interest rate derivatives used to manage financial exposure The cash pooling arrangements for foreign subsidiaries outside the euro zone, and some of Sanofi’s financing activities, expose certain Sanofi entities to financial foreign exchange risk (i.e. the risk of changes in the value of borrowings and loans denominated in a currency other than the functional currency of the borrower or lender). That foreign exchange exposure is hedged by Sanofi using firm financial instruments (currency swaps or forward contracts). The table below shows financial currency hedging instruments in place, with the notional amount translated into euros at the relevant closing exchange rate: 2017 2016 2015 ( € Notional Fair Expiry Notional Fair Expiry Notional Fair Expiry Forward currency sales 5,074 86 5,298 (28) 3,472 (44) of which US dollar 3,542 50 2018 3,356 (37) 2017 2,171 (30) 2016 of which Japanese yen 867 34 2018 1,036 - 2017 612 (9) 2016 of which Australian dollar 281 1 2018 254 5 2017 266 (4) 2016 Forward currency purchases 4,657 (18) 5,980 31 2,623 9 of which Singapore dollar 2,281 (23) 2018 878 5 2017 310 - 2016 of which Canadian dollar 907 6 2018 - - 145 (1) 2016 of which Czech koruna 431 6 2018 332 (1) 2017 245 (1) 2016 Total 9,731 68 11,278 3 6,095 (35) These forward currency contracts generate a net financial foreign exchange gain or loss arising from the interest rate differential between the hedged currency and the euro, given that the foreign exchange gain or loss on the foreign-currency borrowings and loans is offset by the change in the intrinsic value of the hedging instruments. Sanofi may also hedge some future foreign-currency Sanofi manages its net debt in two currencies: the euro and the US dollar (see Note D.17.). The floating-rate The table below shows instruments of this type in place as of December 31, 2017: Notional amounts by expiry date as of December 31, 2017 Of which designated Of which designated as ( € 2018 2019 2020 2021 2022 2023 Total Fair Notional Fair Notional Fair Of which Interest rate swaps pay capitalized Eonia / receive 1.58% - 1,550 - - - - 1,550 58 1,550 58 - - - pay capitalized Eonia / receive 0.06% - - - - 1,800 - 1,800 (6) 1,800 (6) - - - pay 1.81% / receive 3-month - - 417 - - - 417 2 - - 417 2 - pay 3-month - - 417 - - - 417 3 417 3 - - - pay capitalized Eonia / receive 1.48% (a) - - - - 42 57 99 (6) - - - - - Total - 1,550 834 - 1,842 57 4,283 51 3,767 55 417 2 - (a) These interest rate swaps hedge fixed-rate bonds with a nominal of € The table below shows instruments of this type in place as of December 31, 2016: Notional amounts by expiry date as of December 31, 2016 Of which designated Of which designated as ( € 2017 2019 2020 2021 2022 2023 Total Fair Notional Fair Notional Fair Of which Interest rate swaps pay capitalized Eonia / receive 1.58% - 1,550 - - - - 1,550 88 1,550 88 - - - pay 3-month 428 - - - - - 428 3 428 3 - - - pay 3-month - - 475 - - - 475 10 475 10 - - - pay 1.22% / receive 3-month & 6-month 475 - - - - - 475 (2) - - 475 (2) - pay capitalized Eonia / receive -0.01% - - - - 300 - 300 1 300 1 - - - Total 903 1,550 475 - 300 - 3,228 100 2,753 102 475 (2) - The table below shows instruments of this type in place as of December 31, 2015: Notional amounts by expiry date as of Of which designated Of which designated ( € 2016 2017 2019 2020 2021 2022 Total Fair value Notional amount Fair Notional Fair Of which Interest rate swaps pay 1-month 500 - - - - - 500 14 500 14 - - - pay capitalized Eonia / receive 1.90% 1,000 - 1,550 - - - 2,550 128 2,550 128 - - - pay 3-month - 428 - - - - 428 3 - - - - - pay 3-month - - - 459 - - 459 14 459 14 - - - pay 1.22% / receive 3-month & 6-month - 459 - - - - 459 (2) - - 459 (2) (1) Currency swaps hedging investments pay JPY / receive € 175 - - - - - 175 (4) - - - - - pay USD / receive € 92 - - - - - 92 (1) - - - - Total 1,767 887 1,550 459 - - 4,663 152 3,509 156 459 (2) (1) c) Actual or potential effects of netting arrangements The table below is prepared in accordance with the accounting policies described in Note B.8.3.: 2017 2016 2015 ( € Derivative Derivative Derivative Derivative Derivative Derivative Gross carrying amounts before offset (a) 196 (74) 210 (132) 218 (85) Gross amounts offset (in accordance with IAS 32) (b) - - - - - - Net amounts as reported in the balance sheet 196 (74) 210 (132) 218 (85) Effects of other netting arrangements (not fulfilling the IAS 32 criteria for offsetting) (d) Financial instruments (67) 67 (97) 97 (66) 66 Fair value of financial collateral N/A N/A N/A N/A N/A N/A Net exposure (c) + (d) 129 (7) 113 (35) 152 (19) |
Off-balance sheet commitments
Off-balance sheet commitments | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Off-balance sheet commitments | D.21. Off-balance The off balance sheet commitments presented below are shown at their nominal value. D.21.1. Off balance sheet commitments relating to operating activities Off balance sheet commitments relating to Sanofi’s operating activities comprise the following: December 31, 2017 Payments due by period ( € Total Less than 1 year 1 to 3 3 to 5 More than 5 years Operating leases (a) 1,452 294 407 284 467 Irrevocable purchase commitments (b) ∎ (c) 5,500 3,101 1,021 483 895 ∎ (181) (87) (56) (10) (28) Research and development license agreements ∎ (d) 951 577 342 10 22 ∎ (e) 1,907 84 246 941 636 Firm commitments under the agreement with BMS (f) 97 97 - - - Total 9,726 4,066 1,960 1,708 1,992 (a) Operating leases as of December 31, 2017 include € (b) These comprise irrevocable commitments to suppliers of (i) property, plant and equipment, net of down-payments (see Note D.3.) and (ii) goods and services. As of December 31, 2016, irrevocable commitments amounted to € € (c) Irrevocable purchase commitments given as of December 31, 2017 include € (d) Commitments related to R&D, and other commitments, amounted to € (e) This line includes only potential milestone payments on projects regarded as reasonably possible, i.e. on projects in the development phase. Potential milestone payments as of December 31, 2016 amounted to € (f) See Note C.2. Operating leases Sanofi leases some of the property and equipment used in the ordinary course of business under operating leases. The majority of future operating lease rental commitments relate to real estate assets; the remainder relate to vehicles and other leased assets. Future minimum lease payments due under non-cancelable € € € Total rental expense recognized in the year ended December 31, 2017 was € € € Research and development license agreements In pursuance of its strategy, Sanofi may acquire technologies and rights to products. Such acquisitions may be made in various contractual forms: acquisitions of shares, loans, license agreements, joint development, and co-marketing. The “Research and development license agreements” line comprises future service commitments to fund research and development or technology, and potential milestone payments regarded as reasonably possible (i.e. all potential milestone payments relating to projects in the development phase, for which the future financial consequences are known and considered as probable and for which there is a sufficiently reliable estimate). It excludes commitments relating to projects in the research phase ( € € € € € € Major agreements entered into during 2017 were as follows: ∎ On January 9, 2017, Sanofi and Immunext announced an agreement to develop a novel antibody to treat auto-immune diseases such as multiple sclerosis and lupus. Under the agreement, Sanofi acquired an exclusive worldwide license to INX-021, ∎ On March 3, 2017, Sanofi Pasteur and MedImmune (a division of AstraZeneca) announced an agreement to develop and commercialize a monoclonal antibody (MEDI8897) for the prevention of Respiratory Syncytial Virus (RSV) associated illness in newborns and infants. ∎ On May 30, 2017, ImmunoGen and Sanofi finalized an amendment to the license and collaboration agreement signed in 2003. ImmunoGen has granted Sanofi a fully paid and exclusive license to develop, manufacture and commercialize the full series of compounds developed by Sanofi using ImmunoGen technology. ∎ On July 20, 2017, Sanofi and Ablynx announced an alliance to reinforce treatments of inflammatory and auto-immune diseases under which Sanofi could pay Ablynx up to € ∎ On September 28, 2017, Sanofi and Thermalin, Inc. announced a worldwide collaboration to discover and develop novel, engineered insulin analogues. The collaboration builds on Thermalin’s pioneering science, which alters the insulin molecule to achieve greater therapeutic performance. ∎ On November 9, 2017, Sanofi and Principia Biopharma, Inc. signed a license agreement to develop Principia’s Bruton’s tyrosine kinase (BTK) inhibitor (PRN2246), in the treatment of multiple sclerosis and, potentially, other central nervous system diseases. Sanofi will pay an upfront payment of $40 million to Principia, future milestone payments of up to $765 million, and royalties on sales of the product. Other major agreements entered into by Sanofi in prior years are described below: ∎ Hanmi Pharmaceutical Co., Ltd. (2016): amendment to the license agreement originally signed on November 5, 2015. Under the terms of the amendment, Sanofi returned to Hanmi the rights for a weekly-administered insulin, and Hanmi re-assumed € € ∎ JHL Biotech, Inc. (2016): collaboration to develop and commercialize biological therapeutic treatments in China, with the potential for international expansion. JHL retains responsibility for development, registration and production, while Sanofi is responsible for commercialization. ∎ DiCE Molecules (2016): five-year global collaboration to discover potential new therapeutics for up to 12 targets that encompass all disease areas of strategic interest to Sanofi. ∎ Innate Pharma (2016): collaboration and licensing agreement to apply Innate Pharma’s new proprietary technology to the development of innovative bispecific antibody formats engaging natural killer (NK) cells to kill tumor cells through the activating receptor NKp46. ∎ Lexicon Pharmaceuticals, Inc. (2015): collaboration and license agreement to develop and commercialize sotagliflozine, an investigational dual inhibitor of sodium-glucose cotransporters 1 and 2 (SGLT-1 SGLT-2). ∎ BioNTech A.G. (2015): exclusive collaboration and license agreement to discover and develop up to five cancer immunotherapies. ∎ Evotec AG and Apeiron Biologics AG (2015): collaboration and license agreement to discover and develop first-in-class ∎ Evotec International GmbH (2015): strategic research collaboration to develop beta cell-modulating diabetes treatments, which may reduce or eliminate the need for insulin injections. ∎ Regeneron (2015): collaboration agreement on the discovery, development and commercialization of antibodies in the field of immuno-oncology (see Note C.1.). An amendment to that agreement was signed on January 8, 2018 (see Note G/). ∎ Regeneron (2015): amendment to the September 2003 collaboration agreement on the development and commercialization of Zaltrap ® ∎ Lead Pharma (2015): research collaboration and license agreement for the discovery, development and commercialization of small-molecule therapies directed against “ROR gamma t” nuclear hormone receptors to treat auto-immune diseases. ∎ Voyager Therapeutics (2015): collaboration agreement for the discovery, development and commercialization of new gene therapies to treat serious disorders of the central nervous system. ∎ Immune Design (2014): license agreement for the use of Immune Design’s GLAAS ® ∎ Eli Lilly and Company (2014): agreement to pursue regulatory approval for non-prescription ® ∎ Alnylam Pharmaceuticals, Inc. (2014): extension of the strategic agreement to develop and commercialize treatments for rare genetic diseases. An amendment to that agreement was signed on January 7, 2018 (see Note G/). ∎ UCB (2014): scientific and strategic collaboration for the discovery and development of innovative anti-inflammatory small molecules, which have the potential to treat a wide range of immune-mediated diseases in areas such as gastroenterology and arthritis. ∎ Ascendis (2010): licensing and patent transfer agreement on Transcon Linker and Hydrogel Carrier technology. The agreement enables Sanofi to develop, manufacture and commercialize products combining this technology with active molecules for the treatment of diabetes and related disorders. ∎ Avila Therapeutics, Inc. (acquired by Celgene Corporation in 2012): 2010 alliance to discover target covalent drugs for the treatment of cancers, directed towards six signaling proteins that are critical in tumor cells. ∎ Regulus Therapeutics, Inc. (2010): discovery, development and commercialization of novel micro-RNA ∎ Exelixis, Inc. (2009): global license agreement for XL765. Sanofi and its alliance partners have decided to terminate the following agreements (the related commitments are no longer disclosed as of December 31, 2017): ∎ Sanofi and Vivus, Inc. have discontinued their agreement to develop, manufacture and commercialize avanafil. ∎ Sanofi and Warp Drive have decided to end the collaboration initiated in January 2016 relating to two key programs (ABC and non ABC) to develop novel anti-cancer and antibiotic agents derived from proprietary platforms. Other agreements Sanofi has entered into two agreements, with Royalty Pharma (December 2014) and NovaQuest (December 2015), which have similar characteristics in that the partners jointly bear a portion of the remaining development cost of the project on a quarterly basis in return for a share of future sales. These transactions are co-investments, ∎ The products being developed under the December 2014 agreement with Royalty Pharma were launched in the United States and Europe, marking the end of the joint development programs. ∎ Sanofi announced the discontinuation of development on the Clostridium Difficile On February 27, 2017, Sanofi and Lonza announced a strategic partnership in the form of a joint venture to build and operate a large-scale mammalian cell culture facility for monoclonal antibody production in Visp, Switzerland. An initial investment of approximately € € In February 2014, pursuant to the “Pandemic Influenza Preparedness Framework for the sharing of influenza viruses and access to vaccines and other benefits” (still effective as of December 31, 2017), Sanofi Pasteur and the World Health Organization (WHO) signed a bilateral “Standard Material Transfer Agreement” (SMTA 2). This agreement stipulates that Sanofi Pasteur will, during declared pandemic periods, (i) donate 7.5% of its real-time production of pandemic vaccines against any strain with potential to cause a pandemic, and (ii) reserve a further 7.5% of such production on affordable terms. The agreement cancels and replaces all preceding commitments to donate pandemic vaccines to the WHO. D.21.2. Off balance sheet commitments relating to financing activities Credit facilities Undrawn credit facilities are as follows: December 31, 2017 Expiry ( € Total Less than 1 to 3 years 3 to 5 years More than General-purpose credit facilities 8,010 7 8,003 - - As of December 31, 2017, total credit facilities amounted to € € Guarantees The table below shows the amount of guarantees given and received: ( € 2017 2016 2015 Guarantees given: 2,986 3,946 3,972 ∎ 1,318 2,189 2,260 ∎ 1,668 1,757 1,712 Guarantees received (181) (211) (187) D.21.3. Off balance sheet commitments relating to Sanofi entities and business combinations Funding commitments to associates and joint ventures are disclosed in Note D.6. The maximum amount of contingent consideration relating to business combinations is disclosed in Note D.18. |
Legal and arbitral proceedings
Legal and arbitral proceedings | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Legal and arbitral proceedings | D.22. Legal and arbitral proceedings Sanofi and its affiliates are involved in litigation, arbitration and other legal proceedings. These proceedings typically are related to product liability claims, intellectual property rights (particularly claims against generic companies seeking to limit the patent protection of Sanofi products), competition law and trade practices, commercial claims, employment and wrongful discharge claims, tax assessment claims, waste disposal and pollution claims, and claims under warranties or indemnification arrangements relating to business divestitures. Provisions related to legal and arbitral proceedings are recorded in accordance with the principles described in Note B.12. Most of the issues raised by these claims are highly complex and subject to substantial uncertainties; therefore, the probability of loss and an estimation of damages are difficult to ascertain. Contingent liabilities are cases for which either we are unable to make a reasonable estimate of the expected financial effect that will result from ultimate resolution of the proceeding, or a cash outflow is not probable. In either case, a brief description of the nature of the contingent liability is disclosed and, where practicable, an estimate of its financial effect, an indication of the uncertainties relating to the amount and timing of any outflow, and the possibility of any reimbursement are provided in application of paragraph 86 of IAS 37. In the cases that have been settled or adjudicated, or where quantifiable fines and penalties have been assessed, we have indicated our losses or the amount of provision accrued that is the estimate of the probable loss. In a limited number of ongoing cases, while we are able to make a reasonable estimate of the expected loss or range of the possible loss and have accrued a provision for such loss, we believe that publication of this information on a case-by-case These assessments can involve a series of complex judgments about future events and can rely heavily on estimates and assumptions. Our assessments are based on estimates and assumptions that have been deemed reasonable by management. We believe that the aggregate provisions recorded for the above matters are adequate based upon currently available information. However, given the inherent uncertainties related to these cases and involved in estimating contingent liabilities, we could in the future incur judgments that could have a material adverse effect on our net income in any particular period. Long term provisions are disclosed in Note D.19. They include: ∎ Provisions for product liability risks, litigation and other amount to € ∎ Provisions for environmental risks and remediation amount to € a) Products Sanofi Pasteur Hepatitis B Vaccine Product Litigation Since 1996, more than 180 lawsuits have been filed in various French civil courts against Sanofi Pasteur and/or Sanofi Pasteur MSD S.N.C., the former a French subsidiary of Sanofi, and the latter a joint venture company with Merck & Co., Inc. now terminated, for which past ongoing litigation is now managed by the originating party. In such lawsuits, the plaintiffs allege that they suffer from a variety of neurological disorders and autoimmune diseases, including multiple sclerosis and Guillain-Barré syndrome as a result of receiving the hepatitis B vaccine. To date, only one claim decided against the Company has been upheld by the French Supreme Court ( Cour de cassation In January 2008, both the legal entity Sanofi Pasteur MSD S.N.C., and a corporate officer of this company, as well as, a former corporate officer of Sanofi Pasteur, were placed under investigation in an ongoing criminal inquiry in France relating to alleged side effects caused by the hepatitis B vaccine. In March 2012, Sanofi Pasteur and the former pharmacist in charge, deputy Chief Executive Officer of Sanofi Pasteur were placed under an “advised witness” status. In October 2017, the French Supreme Court ( Cour de cassation Cour d’appel Plavix ® As of December 31, 2017, around 759 lawsuits, involving approximately 1,395 claimants (but 1,134 ingesting plaintiffs) have been filed against affiliates of Sanofi and Bristol-Myers Squibb seeking recovery under US state law for personal injuries allegedly sustained in connection with the use of Plavix ® Taxotere ® As of December 31, 2017, around 7,123 lawsuits, involving approximately 8,208 claimants (but 7,580 ingesting plaintiffs and 629 loss of consortium plaintiffs) have been filed against affiliates of Sanofi under US state law for personal injuries allegedly sustained in connection with the use of Taxotere ® Depakine ® As of December 31, 2017, 56 individual claims, involving approximately 90 claimants, and a class action based on 14 claims have been filed against a French affiliate of Sanofi seeking indemnification under French law for personal injuries allegedly sustained by children in connection with the use of Depakine ® In November 2017, court decisions were rendered in relation to certain individual cases and the class action: (i) the Court of Appeals of Orléans confirmed the Tours Court decision which ordered the French affiliate to pay approximately € € Caisse Primaire d’Assurance Maladie Association des Parents d’Enfants souffrant du Syndrome de l’Anti-Convulsivant) The French government has, through the 2017 Finance law adopted on December 29, 2016, set up a public fund which is meant to compensate loss or injury actually suffered in relation to the prescription of sodium valproate and its derivatives. The fund entered into force on June 1, 2017. The French affiliate has raised issue of conflict of interest of certain appointed experts and it has seized the Administrative Court on the unresolved conflict situation of one expert. It is not possible, at this stage, to assess reliably the outcome of these cases or the potential financial impact on the Company. b) Patents Ramipril Canada Patent Litigation Sanofi has been involved in a number of legal proceedings involving companies which market generic Altace ® Sanofi appealed both rulings. In March 2014, the Federal Court of Appeal dismissed Sanofi’s appeal with respect to Teva and issued a decision in the appeal with respect to Apotex increasing Apotex’s damages award, and costs of all appeals (not including costs associated with underlying trial). In May 2014, Sanofi and Apotex executed a settlement agreement in satisfaction of the Federal Court of Appeal’s increased damages judgment. On April 20, 2015, the Supreme Court of Canada dismissed Sanofi’s appeal of the Court of Appeal decision with respect to Apotex, thereby affirming the decision of the Court of Appeal. The Riva Section 8 case, which had been stayed pending resolution of the Supreme Court Appeal, was settled following court-sponsored mediation in September 2015. In June 2011, while the Section 8 damages action was proceeding in Federal Court, Apotex commenced an action in the Ontario Superior Court of Justice asserting damages pursuant to, inter alia, the Ontario Statute of Monopolies, the UK Statute of Monopolies, and the Trade-marks Act (the “Ontario Action”). The Ontario Action was stayed pending exhaustion of appeals in the Section 8 damages action and, despite having received full compensation in the Section 8 action, was reinitiated by Apotex after the conclusion of the appeals. Praluent ® Amgen filed four separate complaints against Sanofi in the US asserting patent infringement on October 17, October 28, November 11, and November 18, 2014 based on Sanofi and Regeneron plans to submit a US Biologic License Application for alirocumab. Together these complaints allege that Sanofi’s alirocumab product infringes seven patents and seek injunctive relief and unspecified damages. These cases were consolidated into one case in December 2014. Sanofi and Regeneron asserted, among other defenses, invalidity and non-infringement ® In February 2017, the US Court of Appeals for the Federal Circuit (“Federal Circuit”) stayed (suspended) the permanent injunction for Praluent ® Praluent ® Amgen has filed three separate patent infringement lawsuits against Sanofi and Regeneron in Europe based on Amgen’s European patent EP2215124. On July 25, 2016, Amgen filed a lawsuit in the UK High Court of Justice, Chancery Division Patents Court against five Sanofi entities and Regeneron alleging that alirocumab infringes its ‘124 (UK) patent, seeking injunctive relief and unspecified damages; Sanofi has counterclaimed invalidity. In February 2017, the UK action was stayed (suspended) on terms agreed by the parties. Also on July 25, 2016, Amgen filed a lawsuit in Germany in the Regional Court, Dusseldorf against three Sanofi entities and Regeneron alleging that alirocumab infringes its ‘124 (DE) patent, seeking injunctive relief and unspecified damages. On September 26, 2016, Amgen filed a lawsuit in France in the Tribunal de Grande Instance Praluent ® The European Patent Office (EPO) granted Amgen’s European Patent EP2215124 on February 24, 2016. Also on February 24, 2016, Sanofi filed an opposition with the EPO requesting the revocation of Amgen’s ’124 patent in its entirety for all contracting states on the grounds that the subject-matter of the opposed patent is not patentable. On November 24, 2016, Sanofi filed a second opposition (in the name of three Sanofi affiliates named as defendants in the German infringement action – see above), and Regeneron filed a separate opposition, requesting revocation of Amgen’s ’124 patent. The parties have filed several sets of further submissions. The EPO has set a hearing date for November 2018. Praluent ® In May 2017, Amgen filed a lawsuit in the Tokyo District Court, against Sanofi K.K. for patent infringement of two of its Japanese Patents, JP5705288 and JP5906333. Amgen seeks injunctive relief to prevent the infringing manufacture, use and sale of alirocumab, as well as destruction of Praluent and alirocumab, and attorneys’ fees; Sanofi has counterclaimed invalidity. The validity of these two Japanese patents was challenged by Sanofi in the Japanese Patent Office (JPO) by filing invalidation actions in 2016. The JPO issued a Trial Decision in March 2017, indicating their intent to maintain some claims of each patent, and invalidate others. Amgen filed corrected claims in the JPO in May 2017, canceling the claims the JPO indicated were invalid. In August 2017, the JPO issued their decision to maintain the amended claims valid. In December 2017, Sanofi filed an appeal to the Intellectual Property High Court demanding revocation of the JPO decision. Dupixent ® Immunex Corporation, an Amgen affiliate, is the registered proprietor of European Patent EP2292665. The claims of this patent relate to, among other things, human monoclonal antibodies that are capable of inhibiting IL-4 IL-4R. In The EPO rendered its decision in November 2017 and revoked the patent in its entirety. The decision revoking the patent was issued in January 2018. Immunex is entitled to appeal the decision of the EPO, and the deadline to file the formal appeal is March 14, 2018. Dupixent ® In March and July 2017, Sanofi and Regeneron filed collectively three petitions for Inter Partes In April 2017, Immunex filed a complaint in the US District Court for the Central District of California against Sanofi and Regeneron for patent infringement and declaratory judgment of patent infringement of US patent 8,679,487 with respect to Dupixent ® non-infringement, Plavix ® In August 2007, GenRX (a subsidiary of Apotex) obtained registration of a generic clopidogrel bisulfate product on the Australian Register of Therapeutic Goods. At the same time, GenRX filed a patent invalidation action with the Federal Court of Australia, seeking revocation of Sanofi’s Australian enantiomer patent claiming clopidogrel salts (a “nullity action”). In September 2007, Sanofi obtained a preliminary injunction from the Federal Court preventing commercial launch of this generic clopidogrel bisulfate product until judgment on the substantive issues of patent validity and infringement. In February 2008, Spirit Pharmaceuticals Pty. Ltd. also filed a nullity action against Sanofi’s Australian enantiomer patent. The Spirit proceeding was consolidated with the Apotex proceeding. In August 2008, the Australian Federal Court confirmed that the claim in Sanofi’s Australian enantiomer patent directed to clopidogrel bisulfate (the salt form in Plavix ® € € € € On April 8, 2013, the Australian Department of Health and Ageing filed an application before the Federal Court of Australia seeking payment of damages from Sanofi related to the Apotex preliminary injunction of up to AUD449 million ( € Sanofi and BMS settled the patent litigation with Apotex in November 2014. In light of the Apotex settlement, the Commonwealth has requested that the Court consider a set of legal issues separate from trial that could simplify the trial. In December 2015, the Court held that the relevant statute does not preclude the Commonwealth from seeking damages in cases such as this. Sanofi and BMS have applied for special leave to appeal against this decision. Sanofi’s special appeal to the High Court on the issue of the invalidity of the patent was denied in November 2015. In May 2016, Sanofi’s and BMS’s application for special leave to appeal to the High Court of Australia was denied. Consequently, the substantive claim on damages sought by the Commonwealth has continued to trial. A decision is expected in late 2018. c) Other litigation and arbitration CVR Trustee Claim In November 2015, American Stock Transfer & Trust Company LLC (“AST”), the Trustee of the CVR Agreement between AST and Sanofi-Aventis, dated March 30, 2011, filed a complaint against Sanofi in the US District Court for the Southern District of New York, alleging that Sanofi breached the CVR Agreement and the implied covenant of good faith and fair dealing, including by allegedly failing to use “Diligent Efforts,” as defined in the CVR Agreement, with respect to the regulatory approval and sale of Lemtrada ® On January 29, 2016, Sanofi moved to dismiss Counts II (breach of contract relating to the Product Sales Milestones) and III (breach of the implied covenant of good faith and fair dealing) of the complaint. In May 2016, AST submitted a notice of resignation as Trustee. Before the resignation became effective, AST filed a Supplemental Complaint seeking the entry of a declaratory judgment that it is entitled to, among other things, reimbursement for legal fees and expenses incurred by its outside counsel for the investigation and prosecution of the claims in the case under the CVR Agreement. In June 2016, a new Trustee, UMB Bank, N.A. (“UMB”) was appointed. In July 2016, UMB moved for partial summary judgment on its declaratory judgment claim seeking, among other things, the reimbursement of legal fees and expenses incurred by its outside counsel for the investigation and prosecution of the claims in the case. In September 2016, the Court issued an order denying (in part) Sanofi’s motion to dismiss Count II of the complaint, granting Sanofi’s motion to dismiss Count III of the complaint in its entirety, and denying UMB’s motion for partial summary judgment relating to its request for the payment of the fees and expenses incurred by its outside counsel. In October 2016, UMB appealed the portion of the order denying its motion for partial summary judgment to the US Court of Appeals for the Second Circuit. In December 2016, the US Court of Appeals for the Second Circuit granted Sanofi’s motion to dismiss the appeal for lack of appellate jurisdiction. In February 2017, the Trustee amended the complaint to assert breach of contract claims with respect to its requests for books and records, as well as its request for an audit. On March 24, 2017, the Trustee sought leave to amend its complaint for a second time to assert a breach of contract claim with respect to the Production Milestone, which request was granted on August 23, 2017. Discovery is ongoing with respect to the claims relating to the FDA approval milestone, Product Sales Milestone #1 and the Production Milestone. On October 6, 2017, the Trustee filed a motion for summary judgment with respect to its request for an audit pursuant to Section 7.6(a) of the CVR Agreement. d) Contingencies arising from certain Business Divestitures Sanofi and its subsidiaries, Hoechst and Aventis Agriculture, divested a variety of mostly chemical, including agro-chemical, businesses as well as certain health product businesses in previous years. As a result of these divestitures, the Company is subject to a number of ongoing contractual and legal obligations regarding the state of the sold businesses, their assets, and their liabilities. Aventis Behring Retained Liabilities The divestment of Aventis Behring and related protein therapies assets became effective on March 31, 2004. The purchase agreement contained customary representations and warranties running from Sanofi as seller to CSL Limited as purchaser. Sanofi has indemnification obligations that generally expired on March 31, 2006 (the second anniversary of the closing date). However, some indemnification obligations, having a longer duration, remain in effect. For example, indemnification obligations relating to the due organization, capital stock and ownership of Aventis Behring Companies ran through March 31, 2014, and product liability indemnification runs through March 31, 2019, subject to an extension for claims related to certain types of product liability notified before such date. Furthermore, for tax-related Under the indemnification agreement, Sanofi is generally obligated to indemnify CSL Limited, only to the extent indemnifiable, losses exceeding $10 million and up to a maximum aggregate amount of $300 million. For environmental claims, the indemnification due by Sanofi equals 90% of the indemnifiable losses. Product liability claims are generally treated separately, and the aggregate indemnification is capped at $500 million. Certain indemnification obligations, including those related to HIV liability, as well as tax claims, are not capped in amount. Aventis CropScience Retained Liabilities The sale by Aventis Agriculture S.A. and Hoechst GmbH (both legacy companies of Sanofi) of their aggregate 76% participation in Aventis CropScience Holding (ACS) to Bayer and Bayer CropScience AG (BCS), the wholly owned subsidiary of Bayer which holds the ACS shares, was effective on June 3, 2002. The Stock Purchase Agreement (SPA) dated October 2, 2001, contained customary representations and warranties with respect to the sold business, as well as a number of indemnifications, in particular with respect to: environmental liabilities (the representations and warranties and the indemnification are subject to a cap of € ® pre-closing € € Since December 2005, Aventis Agriculture and Hoechst GmbH have concluded several settlement agreements to resolve a substantial number of disputes with Bayer and BCS, including the termination of arbitration proceedings initiated in August 2003 for an alleged breach of a financial statement-related representation contained in the SPA, and numerous other warranty and indemnification claims, including certain environmental and product liabilities claims. A number of other outstanding claims remain unresolved. LLRICE601 and LLRICE604 – Arbitration On December 19, 2014, BCS initiated a claim for arbitration against Aventis Agriculture S.A. and Hoechst GmbH seeking indemnification under various provisions of the SPA, with a demand for € ® Sanofi does not consider that these claims constitute indemnifiable losses under the SPA and is currently opposing Bayer’s request to indemnification in the ongoing arbitration proceeding before DIS (German Arbitral Tribunal). The hearings are scheduled to take place in May 2018. Aventis Animal Nutrition Retained Liabilities Aventis Animal Nutrition S.A. and Aventis (both legacy companies of Sanofi) signed an agreement for the sale to Drakkar Holdings S.A. of the Aventis Animal Nutrition business effective in April 2002. The sale agreement contained customary representations and warranties. Sanofi’s indemnification obligations ran through April 2004, except for environmental indemnification obligations (which ran through April 2012), tax indemnification obligations (which run through the expiration of the applicable statutory limitation period), and antitrust indemnification obligations (which extend indefinitely). The indemnification undertakings are subject to an overall cap of € Celanese AG Retained Liabilities The demerger of the specialty chemicals business from Hoechst to Celanese AG (now trading as “Celanese GmbH”) became effective on October 22, 1999. Under the demerger agreement between Hoechst and Celanese, Hoechst expressly excluded any representations and warranties regarding the shares and assets demerged to Celanese. Celanese subsequently contributed rights and obligations relating to environmental liabilities resulting from the demerger agreement to a subsidiary CCC Environmental Management and Solutions GmbH & Co. KG (“CCC”). The following obligations of Hoechst are ongoing: ∎ While all obligations of Hoechst (i) resulting from public law or (ii) pursuant to current or future environmental laws or (iii) vis-à-vis ∎ To the extent Hoechst is liable to purchasers of certain of its divested businesses (as listed in the demerger agreement), CCC is liable to indemnify Hoechst, as far as environmental damages are concerned, for aggregate liabilities up to € € € 2 3 1 3 Rhodia Shareholder Litigation In January 2004, two minority shareholders of Rhodia and their respective investment vehicles filed two claims before the Commercial Court of Paris ( Tribunal de Commerce de Paris € € € Sanofi is also aware of three criminal complaints filed in France by the same plaintiffs and of a criminal investigation order issued by the Paris public prosecutor following the submission of the report issued by the AMF regarding Rhodia’s financial communications. In 2006, the Commercial Court of Paris accepted Sanofi’s and the other defendants’ motion to stay the civil litigation pending the conclusion of the criminal proceedings. In December 2016, the Court of Appeals of Paris dismissed the appeal lodged by the same plaintiffs against the order of the investigating judge dated October 2015, dismissing all criminal charges in this case. The plaintiffs appealed the December 2016 decision before the French Supreme Court ( Cour de cassation Clariant Retained Liabilities – Specialty Chemicals Business Hoechst conveyed its specialty chemicals business to Clariant AG (Clariant) pursuant to a 1997 agreement. Clariant has undertaken to indemnify Hoechst for all costs incurred for environmental matters relating to purchased sites. However, certain indemnification obligations of Hoechst for environmental matters in favor of Clariant remain with Hoechst. Hoechst must indemnify Clariant indefinitely (i) with respect to sites taken over by Clariant, for costs which relate to environmental pollutions attributable to certain activities of Hoechst or of third parties, (ii) for costs attributable to four defined waste deposit sites in Germany which are located outside the sites taken over by Clariant (to the extent exceeding an indexed amount of approximately € Infraserv Höchst Retained Liabilities By the Asset Contribution Agreement dated December 19/20, 1996, as amended in 1997, Hoechst contributed all lands, buildings, and related assets of the Hoechst site at Frankfurt Höchst to Infraserv GmbH & Co. Höchst KG. Infraserv Höchst undertook to indemnify Hoechst against environmental liabilities at the Höchst site and with respect to certain landfills. As consideration for the indemnification undertaking, Hoechst transferred to Infraserv Höchst approximately € € |
Provisions for discounts, rebat
Provisions for discounts, rebates and sales returns | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Provisions for discounts, rebates and sales returns | D.23. Provisions for discounts, rebates and sales returns Adjustments between gross sales and net sales, as described in Note B.13.1., are recognized either as provisions or as reductions in accounts receivable, depending on their nature. The table below shows movements in these items: ( € Government and State programs (a) Government and GPO programs (b) Chargeback Rebates and discounts Sales Other Total Balance at January 1, 2015 1,439 312 221 876 393 6 3,247 Provision related to current period sales 4,912 1,954 4,131 5,913 585 31 17,526 Net change in provision related to prior period sales (35) - (20) (45) 35 - (65) Payments made (4,295) (1,636) (4,001) (5,672) (541) (31) (16,176) Currency translation differences 152 42 18 11 29 - 252 Reclassification of the Animal Health business (c) - - - (139) (21) (1) (161) Balance at December 31, 2015 (d) 2,173 672 349 944 480 5 4,623 Provision related to current period sales 5,240 1,869 4,132 5,394 547 14 17,196 Net change in provision related to prior period sales (6) - (8) (20) 18 (1) (17) Payments made (5,078) (1,796) (4,204) (5,230) (509) (15) (16,832) Currency translation differences 69 26 11 23 14 - 143 Balance at December 31, 2016 (d) 2,398 771 280 1,111 550 3 5,113 Provision related to current period sales 5,131 2,027 4,069 5,897 537 29 17,690 Net change in provision related to prior period sales (46) (11) (8) 30 (11) - (46) Payments made (5,129) (2,031) (3,925) (5,897) (466) (26) (17,474) Currency translation differences (268) (93) (39) (74) (63) - (537) Balance at December 31, 2017 (d) 2,086 663 377 1,067 547 6 4,746 (a) Primarily the US government’s Medicare and Medicaid programs. (b) Mainly rebates and other price reductions granted to healthcare authorities in the United States. (c) This line comprises the provisions for discounts, rebates and sales returns of the Animal Health business, reclassified to Liabilities related to assets held for sale or exchange as of December 31 2015 in accordance with IFRS 5 (see Notes D.1. and D.36.). (d) Provisions related to US net sales amount to € € € |
Personnel costs
Personnel costs | 12 Months Ended |
Dec. 31, 2017 | |
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Personnel costs | D.24. Personnel costs Total personnel costs include the following items: ( € 2017 2016 2015 Salaries 6,592 6,424 6,473 Social security charges (including defined-contribution pension plans) 1,977 1,948 1,951 Stock options and other share-based payment expense 258 250 206 Defined-benefit pension plans 275 273 280 Other employee benefits 219 224 224 Total (a) 9,321 9,119 9,134 (a) Excludes personnel costs for the Animal Health business: immaterial in 2017, € The total number of registered employees (excluding those of the Animal Health business) was 106,566 as of December 31, 2017, compared with 106,859 as of December 31, 2016 and 109,089 as of December 31, 2015. Employee numbers by function as of December 31 are shown below: 2017 2016 2015 Production 40,417 41,867 42,754 Research and development 14,764 15,148 15,384 Sales force 30,284 30,815 32,771 Marketing and support functions 21,101 19,029 18,180 Total (a) 106,566 106,859 109,089 (a) Excluding employees of the Animal Health business: 4 employees in 2017, 6,957 in 2016 and 6,542 in 2015. |
Other operating income
Other operating income | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Other operating income | D.25. Other operating income Other operating income € € € This line item includes income arising under alliance agreements in the Pharmaceuticals segment ( € € € € € € € € € Other operating income also includes net operating foreign exchange gains and losses (see Note B.16.1.), which represented net losses of € € € € € € out-of-court € |
Other operating expenses
Other operating expenses | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Other operating expenses | D.26. Other operating expenses Other operating expenses € € € € € ® € € € |
Restructuring costs and similar
Restructuring costs and similar items | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Restructuring costs and similar items | D.27. Restructuring costs and similar items Restructuring costs and similar items € € € ( € 2017 (a) 2016 (a) 2015 (a) Employee-related expenses 336 650 307 Expenses related to property, plant and equipment and to inventories 221 139 132 Compensation for early termination of contracts (other than contracts of employment) 61 31 7 Decontamination costs (4) 3 1 Other restructuring costs 117 56 348 Total 731 879 795 (a) The results of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current In 2017, restructuring costs mainly comprised employee-related Costs relating to Sanofi transformation programs included within the “Other restructuring costs” line, as defined in Note B.19., amounted to € € The restructuring costs recognized in 2016 related mainly to the implementation of an organizational transformation program in France and in the rest of the world as part of the 2020 strategic roadmap. In 2015, restructuring costs related mainly to (i) employee-related expenses arising from headcount adjustment plans in the United States, Japan, and the rest of the world and (ii) the reorganization of R&D activities, especially in France following signature of the agreement with Evotec. Expenses related to property, plant and equipment mainly reflect impairment losses taken against industrial assets in Europe. |
Other gains and losses, and lit
Other gains and losses, and litigation | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Other gains and losses, and litigation | D.28. Other gains and losses, and litigation In 2017, the line item Other gains and losses, and litigation € € On December 30, 2016 Sanofi divested its interest in the Sanofi Pasteur MSD joint venture to MSD, generating a pre-tax € There were no other material transactions of this nature in 2015, and no costs incurred as a result of major litigation. |
Financial expenses and income
Financial expenses and income | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Financial expenses and income | D.29. Financial expenses and income An analysis of financial expenses and income is set forth below: ( € 2017 (a) 2016 (a) 2015 (a) Cost of debt (b) (277) (274) (331) Interest income 56 56 57 Cost of debt, net of cash and cash equivalents (221) (218) (274) Non-operating (21) (21) - Unwinding of discounting of provisions (c) (33) (33) (44) Net interest cost related to employee benefits (92) (114) (114) Gains/(losses) on disposals of financial assets 96 36 46 Impairment losses on financial assets, net of reversals (7) (487) (d) (50) Other 5 (19) 55 Net financial income/(expenses) (273) (856) (381) comprising: Financial expenses (420) (924) (559) Financial income 147 68 178 (a) The results of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current (b) Includes net gain on interest rate derivatives used to hedge debt: € € € (c) Primarily on provisions for environmental risks, restructuring provisions, and provisions for product-related risks (see Note D.19.). (d) On October 5, 2016, Alnylam Pharmaceuticals, Inc. announced that it was terminating its revusiran development program, as a result of which its share price fell by 48% on October 6, 2016. Consequently, Sanofi recognized an impairment loss reflecting the difference between the historical acquisition cost of its shares in Alnylam and their market value. That impairment loss, which amounted to € In 2017, 2016 and 2015, the impact of the ineffective portion of hedging relationships was not material. |
Income tax expense
Income tax expense | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Income tax expense | D.30. Income tax expense Sanofi has elected for tax consolidations in a number of countries, principally France, Germany, the United Kingdom and the United States. The table below shows the allocation of income tax expense between current and deferred taxes: ( € 2017 (a) 2016 (a) 2015 (a) Current taxes (2,631) (1,869) (1,978) Deferred taxes 909 543 1,269 Total (1,722) (1,326) (709) Income before tax and investments accounted for using the equity method 5,530 5,678 5,243 (a) The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current The difference between the effective tax rate and the standard corporate income tax rate applicable in France is explained as follows: (as a percentage) 2017 (a) 2016 (a) 2015 (a) Standard tax rate applicable in France 34.4 34.4 34.4 Difference between the standard French tax rate and the rates applicable to Sanofi (b) (19.2) (10.1) (17.7) Tax rate differential on intragroup margin in inventory (c) (0.0) (0.6) 1.7 Tax effects of the share of profits reverting to BMS (see Note D.32.) (0.5) (0.5) (0.6) Contribution on distributed income (3%) and associated changes (d) (8.2) 2.0 2.1 CVAE tax in France (e) 1.3 1.1 1.3 Revisions to tax exposures and settlements of tax disputes 2.2 (4.8) 0.3 Fair value remeasurement of contingent consideration 1.1 0.4 (1.1) Impact of US tax reform (f) 21.6 - - Other items (g) (1.6) 1.5 (6.9) Effective tax rate 31.1 23.4 13.5 (a) The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current (b) The difference between the French tax rate and tax rates applicable to foreign subsidiaries reflects the fact that Sanofi has operations in many countries, most of which have lower tax rates than France. (c) When internal margin included in inventory is eliminated, a deferred tax asset is recognized on the basis of the tax rate applicable to the subsidiary that holds the inventory, which may differ from the tax rate of the subsidiary that generated the eliminated intragroup margin. (d) In 2017, this line includes the consequences of the French Constitutional Council ruling of October 6, 2017 on the additional 3% contribution on dividends paid out in cash. In 2016 and 2015, entities liable to corporate income tax in France were liable to pay an additional tax contribution in respect of amounts distributed by the entity. (e) Net impact on the effective tax rate (current taxes, impact of the tax deduction, and deferred taxes). (f) For 2017, this line includes an expense of € € € (g) For 2017, the “Other items” line includes the impact of changes to tax rates in France, Belgium and the Netherlands. For 2016, it includes the effects of changes in tax rates in various countries, particularly in France, Hungary, Italy, Japan and the United States. For 2015, it includes the impact ( € For the periods presented, the amount of deferred tax assets recognized in profit or loss that were initially subject to impairment losses on a business combination is immaterial. The contribution on distributed income, for which the triggering event is the decision by the Annual General Meeting to approve the distribution, is not taken into account in the determination of deferred tax assets and liabilities. |
Share of profit_loss from inves
Share of profit/loss from investments accounted for using the equity method | 12 Months Ended |
Dec. 31, 2017 | |
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Share of profit/loss from investments accounted for using the equity method | D.31. Share of profit/loss from investments accounted for using the equity method With effect from the beginning of April 2014, this line item includes Sanofi’s share of the profits and losses of Regeneron, which represented a net profit of € € € This line item also includes the share of co-promotion € € € € € € The Sanofi Pasteur MSD joint venture ceased to be accounted for by the equity method on March 8, 2016, the date on which it was announced that the joint venture was to be dissolved (see Notes B.1. and D.2.3.). Finally, this line item also includes the share of profits or losses from other investments accounted for by the equity method, the amount of which was immaterial in 2017, 2016 and 2015. |
Net income attributable to non-
Net income attributable to non-controlling interests | 12 Months Ended |
Dec. 31, 2017 | |
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Net income attributable to non-controlling interests | D.32. Net income attributable to non-controlling This line item includes the share of co-promotion € € € This line item also includes the share of net income attributable to other non-controlling € € € |
Related party transactions
Related party transactions | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Related party transactions | D.33. Related party transactions The principal related parties are companies over which Sanofi has control or significant influence; joint ventures; key management personnel; and principal shareholders. Sanofi has not entered into any material transactions with any key management personnel or any of their close family members. Any transactions with such individuals are routine transactions entered into in the ordinary course of business. Financial relations with Sanofi’s principal shareholders fall within the ordinary course of business and were immaterial in the years ended December 31, 2017, 2016 and 2015. A list of the principal companies controlled by Sanofi is presented in Note F.1. Those companies are fully consolidated as described in Note B.1. Transactions between those companies, and between the parent company and its subsidiaries, are eliminated when preparing the consolidated financial statements. Transactions with companies over which Sanofi has significant influence, and with joint ventures, are presented in Note D.6. Key management personnel include corporate officers (including one director holding office for four months in 2016 and two directors holding office during 2015 who were covered by top-up The table below shows, by type, the compensation paid to key management personnel: ( € 2017 2016 2015 Short-term benefits (a) 31 32 32 Post-employment benefits (b) 8 9 20 Share-based payment 15 22 14 Total recognized in profit or loss 54 63 66 (a) Compensation, employer’s social security contributions, directors’ attendance fees, and any termination benefits (net of reversals of termination benefit obligations). (b) In 2015, includes the expense arising from the award of a deemed ten years of service to Olivier Brandicourt. The aggregate top-up € € € The aggregate amount of termination benefits and lump-sum € € € |
Information About Major Custome
Information About Major Customers and Credit Risk | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Information About Major Customers and Credit Risk | D.34. Disclosures about major customers and credit risk Credit risk is the risk that customers (wholesalers, distributors, pharmacies, hospitals, clinics or government agencies) may fail to pay their debts. Sanofi manages credit risk by vetting customers in order to set credit limits and risk levels and asking for guarantees or insurance where necessary, performing controls, and monitoring qualitative and quantitative indicators of accounts receivable balances such as the period of credit taken and overdue payments. Customer credit risk also arises as a result of the concentration of Sanofi’s sales with its largest customers, in particular certain wholesalers in the United States. Sanofi’s three largest customers respectively accounted for approximately 9%, 5% and 4% of consolidated revenues in 2017 (12%, 7% and 6% in 2016; 10%, 6% and 5% in 2015). |
Segment information
Segment information | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Segment information | D.35. Segment information As of December 31, 2017, and as described in Notes A.5. and B.26., Sanofi has three operating segments: Pharmaceuticals, Consumer Healthcare and Human Vaccines (Vaccines). The Pharmaceuticals segment comprises the commercial operations of the following global franchises: Specialty Care (Rare Diseases, Multiple Sclerosis, Oncology, Immunology), Diabetes & Cardiovascular, Established Prescription Products and Generics, together with research, development and production activities dedicated to our Pharmaceuticals segment. This segment also includes all associates whose activities are related to pharmaceuticals, in particular our share of Regeneron. The Consumer Healthcare segment comprises, for all geographical territories, the commercial operations for our Consumer Healthcare products, together with research, development and production activities dedicated to those products. The Vaccines segment comprises, for all geographical territories (including from January 1, 2017 certain European territories previously included in the Sanofi Pasteur MSD joint venture), the commercial operations of Sanofi Pasteur, together with research, development and production activities dedicated to vaccines. Inter-segment D.35.1. Segment results Sanofi reports segment results on the basis of “Business operating income”. This indicator is used internally by Sanofi’s chief operating decision maker to measure the performance of each operating segment and to allocate resources. Business operating income is derived from Operating income ∎ the amounts reported in the line items Restructuring costs and similar items Fair value remeasurement of contingent consideration Other gains and losses, and litigation ∎ amortization and impairment losses charged against intangible assets (other than software and other rights of an industrial or operational nature) are eliminated; ∎ the share of profits/losses from investments accounted for using the equity method is added; ∎ net income attributable to non-controlling ∎ other acquisition-related ∎ restructuring costs relating to investments accounted for using the equity method are eliminated. The table below sets forth our segment results for the year ended December 31, 2017 new segment reporting model 2017 ( € Pharmaceuticals Consumer Vaccines Other Total Sanofi Net sales 25,122 4,832 5,101 - 35,055 Other revenues 287 - 862 - 1,149 Cost of sales (6,728) (1,648) (2,798) (271) (11,445) Research and development expenses (4,056) (123) (557) (736) (5,472) Selling and general expenses (5,750) (1,605) (698) (2,005) (10,058) Other operating income and expenses 34 94 (107) (17) 4 Share of profit/(loss) from investments accounted for using the equity method 233 1 1 - 235 Net income attributable to non-controlling (117) (8) - - (125) Business operating income 9,025 1,543 1,804 (3,029) 9,343 Due to lack of available data and the too complex and significant adjustments that would be required (in particular to our reporting tools), the comparative information has not been restated to reflect the changes arising from our new segment reporting model. We have therefore also presented segment results for 2017 and comparative periods using our previous segment reporting model 2017 ( € Pharmaceuticals (a) Vaccines (b) Other Total Sanofi Net sales 29,954 5,101 - 35,055 Other revenues 287 862 - 1,149 Cost of sales (8,628) (2,817) - (11,445) Research and development expenses (4,835) (637) - (5,472) Selling and general expenses (9,176) (881) (1) (10,058) Other operating income and expenses 180 (108) (68) 4 Share of profit/(loss) from investments accounted for using the equity method 234 1 - 235 Net income attributable to non-controlling (125) - - (125) Business operating income 7,891 1,521 (69) 9,343 (a) Includes Consumer Healthcare and an allocation of global support function costs. (b) Includes an allocation of global support function costs. The table below sets forth our segment results for the year ended December 31, 2016 previous segment reporting model December 31, 2016 ( € Pharmaceuticals (a) Vaccines (b) Other Total Sanofi Net sales 29,244 4,577 - 33,821 Other revenues 274 613 - 887 Cost of sales (8,349) (2,353) - (10,702) Research and development expenses (4,618) (554) - (5,172) Selling and general expenses (8,743) (743) - (9,486) Other operating income and expenses (1) (14) (112) (127) Share of profit/(loss) from investments accounted for using the equity method 129 48 - 177 Net income attributable to non-controlling (112) (1) - (113) Business operating income 7,824 1,573 (112) 9,285 (a) Includes Consumer Healthcare and an allocation of global support function costs. Consumer Healthcare net sales were € (b) Includes an allocation of global support function costs. The table below sets forth our segment results for the year ended December 31, 2015 previous segment reporting model December 31, 2015 ( € Pharmaceuticals (a) Vaccines (b)/(c) Other Total Sanofi Net sales 29,799 4,261 - 34,060 Other revenues 288 513 - 801 Cost of sales (8,788) (2,131) - (10,919) Research and development expenses (4,530) (552) - (5,082) Selling and general expenses (8,656) (726) - (9,382) Other operating income and expenses (121) 27 (114) (208) Share of profit/(loss) from investments accounted for using the equity method 146 23 - 169 Net income attributable to non-controlling (125) (1) - (126) Business operating income 8,013 1,414 (114) 9,313 (a) Includes Consumer Healthcare and an allocation of global support function costs. Consumer Healthcare net sales were € (b) Includes an allocation of global support function costs. (c) Due to a change in accounting presentation, VaxServe sales of non-Sanofi Other revenues from 2016 onwards. The presentation of prior period Net sales and Other revenues has been amended accordingly (see Note B.13.). The table below, presented in compliance with IFRS 8, shows a reconciliation between aggregated “Business operating income” for the segments and Income before tax and investments accounted for using the equity method. ( € 2017 2016 2015 Business operating income 9,343 9,285 9,313 Share of profit/(loss) from investments accounted for using the equity method (a) (235) (177) (169) Net income attributable to non-controlling (b) 125 113 126 Amortization and impairment of intangible assets (2,159) (1,884) (2,904) Fair value remeasurement of contingent consideration (159) (135) 53 Expenses arising from the impact of acquisitions on inventories (c) (166) - - Restructuring costs and similar items (731) (879) (795) Other gains and losses, and litigation (d) (215) 211 - Operating income 5,803 6,534 5,624 Financial expenses (e) (420) (924) (559) Financial income 147 68 178 Income before tax and investments accounted for using the equity method 5,530 5,678 5,243 (a) Excluding restructuring costs relating to investments accounted for using the equity method and expenses arising from the impact of acquisitions on investments accounted for using the equity method, and after elimination of Sanofi’s share of the business net income of Sanofi Pasteur MSD from the date when Sanofi and Merck announced their intention to end their joint venture ( € (b) Excluding (i) restructuring costs and (ii) other adjustments attributable to non-controlling (c) This line records the impact of the workdown of acquired inventories remeasured at fair value at the acquisition date. (d) For 2017, this line includes an adjustment to a provision for vendor’s liability guarantees relating to past divestments. For 2016, it includes the pre-tax (e) For 2016, this line includes an impairment loss of € D.35.2. Other segment information The tables below show the split by operating segment of (i) the carrying amount of associates and joint ventures accounted for using the equity method, (ii) acquisitions of property, plant and equipment, and (iii) acquisitions of intangible assets. The principal investments accounted for using the equity method are: for the Pharmaceuticals segment, Regeneron Pharmaceuticals, Inc. (see Note D.2.2.), the entities majority owned by BMS (see Note C.2.), and Infraserv GmbH & Co. Höchst KG; and for the Vaccines segment, Sanofi Pasteur MSD (until March 8, 2016; see Notes B.1. and D.2.3.). Acquisitions of intangible assets and property, plant and equipment correspond to acquisitions paid for during the period. 2017 ( € Pharmaceuticals Consumer Vaccines Total Sanofi Investments accounted for using the equity method 2,831 19 13 2,863 Acquisitions of property, plant and equipment 1,033 9 346 1,388 Acquisitions of other intangible assets 367 9 192 568 2017 ( € Pharmaceuticals Vaccines Total Sanofi Investments accounted for using the equity method 2,850 13 2,863 Acquisitions of property, plant and equipment 1,042 346 1,388 Acquisitions of other intangible assets 376 192 568 2016 ( € Pharmaceuticals Vaccines Total Sanofi Investments accounted for using the equity method 2,886 4 2,890 Acquisitions of property, plant and equipment 904 315 1,219 Acquisitions of other intangible assets 807 57 864 2015 ( € Pharmaceuticals Vaccines Total Sanofi Investments accounted for using the equity method 2,422 254 2,676 Acquisitions of property, plant and equipment 945 258 1,203 Acquisitions of other intangible assets 1,533 36 1,569 D.35.3. Information by geographical region The geographical information on net sales provided below is based on the geographical location of the customer. In accordance with IFRS 8, the non-current pre-funded 2017 ( € Total Sanofi Europe of which North of which Other Net sales 35,055 9,525 2,330 12,460 11,855 13,070 Non-current ∎ 9,579 5,969 3,180 2,560 2,142 1,050 ∎ 40,264 ∎ 13,080 6,171 5,210 1,699 2016 ( € Total Sanofi Europe of which North of which Other Net sales 33,821 8,679 2,206 12,963 12,391 12,179 Non-current ∎ 10,019 6,068 3,413 2,850 2,447 1,101 ∎ 40,287 ∎ 10,879 3,612 5,430 1,837 2015 ( € Total Sanofi Europe of which North of which Other Net sales (a) 34,060 9,861 2,248 12,369 11,764 11,830 Non-current ∎ 9,943 5,956 3,480 2,879 2,498 1,108 ∎ 39,557 ∎ 12,026 3,719 5,980 2,327 (a) Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues . The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.). As stated in Note D.5., goodwill is not allocated by geographical region. |
Exchanged_held-for-exchange Ani
Exchanged/held-for-exchange Animal Health business | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Exchanged/held-for-exchange Animal Health business | D.36. Exchanged/held-for-exchange In accordance with IFRS 5 (see Note B.7. and D.1.), all assets of the Animal Health business and all liabilities directly related to those assets were classified as of December 31, 2016 and 2015 in the line items Assets held for sale or exchange Liabilities related to assets held for sale or exchange ( € 2016 2015 Assets Property, plant and equipment 811 657 Goodwill 1,560 1,510 Other intangible assets 2,227 2,147 Investments accounted for using the equity method 12 6 Other non-current 41 46 Deferred tax assets 180 177 Inventories 629 526 Accounts receivable 471 479 Other current assets 83 55 Cash and cash equivalents 362 23 Total assets held for sale or exchange 6,376 5,626 Liabilities Long-term debt 6 4 Non-current 134 149 Deferred tax liabilities 198 163 Short-term debt 148 18 Accounts payable 241 218 Other current liabilities 438 431 Total liabilities related to assets held for sale or exchange 1,165 983 As of December 31, 2016, short-term debt owed by Animal Health entities to other consolidated entities amounted to € In accordance with IFRS 5, the net income/loss of the Animal Health business is presented in a separate line item for 2017 and comparative periods (see Notes B.7. and D.1.). The table below provides an analysis of the main items included in the line item Net income/(loss) of the exchanged/held-for-exchange ( € 2017 2016 2015 Net sales - 2,708 2,515 Gross profit - 1,850 1,671 Operating income - 678 101 Income before tax and investments accounted for using the equity method (a) 6,343 672 92 Income tax expense (b) (1,700) (359) (216) Net income/(loss) of the exchanged/held-for-exchange 4,643 314 (124) (a) In 2017, this line shows the gain arising on the divestment of the Animal Health business in exchange for Boehringer Ingelheim’s Consumer Healthcare business, based on a total consideration of € (b) Income tax expense on the gain on divestment of the Animal Health business. In accordance with the policies described in Note B.7., transactions between companies belonging to the Animal Health business and other consolidated companies are eliminated. The amount of transactions eliminated from the income statement is immaterial for the periods presented. The table below presents basic and diluted earnings per share for the exchanged/held-for-exchange ( € 2017 2016 2015 Net income/(loss) of the exchanged/held-for-exchange 4,643 314 (124) Average number of shares outstanding (million) 1,256.9 1,286.6 1,306.2 Average number of shares after dilution (million) 1,266.8 1,296.0 1,320.7 – Basic earnings per share (in euros) 3.69 0.24 (0.10) – Diluted earnings per share (in euros) 3.67 0.24 (0.09) |
Principal accountants' fees and
Principal accountants' fees and services | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Principal accountants' fees and services | E/ Principal accountants’ fees and services PricewaterhouseCoopers Audit and Ernst & Young et Autres served as independent auditors of Sanofi for the year ended December 31, 2017 and for all other reporting periods presented. The table below shows fees charged by those firms and member firms of their networks to Sanofi and consolidated subsidiaries in the years ended December 31, 2017 and 2016. Ernst & Young PricewaterhouseCoopers 2017 2016 2017 2016 ( € Amount % Amount % Amount % Amount % Audit: Statutory audit of separate and consolidated financial statements (a) 16.4 73% 16.7 92% 16.8 98% 16.8 97% Services other than statutory audit (b) 6.0 27% 1.4 8% 0.4 2% 0.6 3% Audit-related services (c) 4.9 0.6 0.4 0.4 Tax - - - - Other services 1.1 0.8 - 0.2 Total 22.4 100% 18.1 100% 17.2 100% 17.4 100% (a) Includes services provided by the independent auditors of the parent company and French subsidiaries: Ernst & Young: € € € € (b) Services other than statutory audit provided by Ernst & Young et Autres during 2017 comprised: - work on share capital transactions and securities issues submitted to the Annual General Meeting (in extraordinary business) for approval; - additional procedures to enable reports previously signed by the firm to be incorporated by reference; and - agreed-upon and audit procedures in connection with a divestment. Services other than statutory audit provided by PricewaterhouseCoopers Audit during 2017 comprised: - work on share capital transactions and securities issues submitted to the Annual General Meeting (in extraordinary business) for approval; - issuance of attestations; - additional procedures to enable reports previously signed by the firm to be incorporated by reference; - audit procedures in connection with an acquisition; and - benchmarking. (c) Includes services provided by the independent auditors of the parent company and French subsidiaries: Ernst & Young: € € € € Audit Committee pre-approval The Audit Committee of Sanofi has adopted a policy and established certain procedures for the approval of audit services and for the pre-approval |
F_ List of principal companies
F/ List of principal companies included in the consolidation during 2017 | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
F/ List of principal companies included in the consolidation during 2017 | F.1. Principal fully consolidated companies The table below shows the principal companies and their country of incorporation: Europe Financial interest (%) as of December 31, 2017 Hoechst GmbH Germany 100.0 Zentiva Pharma GmbH Germany 100.0 Zentiva Inhalationsprodukte GmbH Germany 100.0 Sanofi-Aventis Germany 100.0 Aventis Beteiligungsverwaltung GmbH Germany 100.0 Genzyme GmbH Germany 100.0 Sanofi-Aventis GmbH Austria 100.0 Sanofi Belgium Belgium 100.0 Sanofi European Treasury Center Belgium 100.0 Genzyme Flanders BVBA Belgium 100.0 Sanofi-Aventis Denmark A/S Denmark 100.0 Sanofi-Aventis SA Spain 100.0 Sanofi Oy Finland 100.0 Sanofi France 100.0 Sanofi-Aventis France France 100.0 Sanofi Winthrop Industries France 100.0 Sanofi-Aventis Recherche et Développement France 100.0 Sanofi-Aventis Groupe France 100.0 Sanofi CLIR France 50.1 Sanofi Chimie France 100.0 Francopia France 100.0 Sanofi-Aventis France 100.0 Sanofi-Aventis Participations SAS France 100.0 Genzyme SAS France 100.0 Genzyme Polyclonals SAS France 100.0 Sanofi Pasteur (France) SA France 100.0 Aventis Pharma SA (France) France 100.0 Sanofi-Aventis Am Nord SAS France 100.0 Zentiva France France 100.0 Aventis Agriculture France 100.0 Biopark By Sanofi France 100.0 Chattem Greece S.A. Greece 100.0 Sanofi-Aventis A.E.B.E Greece 100.0 Sanofi-Aventis Private Co, Ltd Hungary 99.6 Chinoin Private Co. Ltd Hungary 99.6 Carraig Insurance DAC Ireland 100.0 Sanofi-Aventis Ireland Ltd Ireland 100.0 Europe Financial interest (%) as of December 31, 2017 Genzyme Ireland Limited Ireland 100.0 Sanofi Spa Italy 100.0 Genzyme Global Sarl Luxembourg 100.0 Sanofi-Aventis Norge AS Norway 100.0 Sanofi-Aventis Netherlands B.V. Netherlands 100.0 Genzyme Europe BV Netherlands 100.0 Sanofi-Aventis Sp. z.o.o. Poland 100.0 Winthrop Farmaceutica Portugal Lda Portugal 100.0 Sanofi Produtos Farmaceuticos Lda Portugal 100.0 Zentiva, k.s. Czech Republic 100.0 Zentiva Group, a.s. Czech Republic 100.0 Sanofi-Aventis, s.r.o. Czech Republic 100.0 Sanofi-Aventis Romania SRL Romania 100.0 Sanofi-Synthelabo Ltd United Kingdom 100.0 Sanofi Pasteur Holding Limited United Kingdom 100.0 Chattem Limited (UK) United Kingdom 100.0 Sanofi-Aventis UK Holdings Limited United Kingdom 100.0 Genzyme Limited United Kingdom 100.0 May and Baker Limited United Kingdom 100.0 Aventis Pharma Limited United Kingdom 100.0 Fisons Limited United Kingdom 100.0 Limited Liability Zentiva Pharma Russia 100.0 Sanofi-Aventis Vostok Russia 100.0 AO Sanofi Russia Russia 100.0 Zentiva a.s. Slovakia 98.9 Sanofi-Aventis Pharma Slovakia s.r.o. Slovakia 100.0 Sanofi AB Sweden 100.0 Sanofi SA (Sanofi AG) Switzerland 100.0 Sanofi-Aventis (Suisse) SA Switzerland 100.0 Pharmaton Switzerland 100.0 Zentiva Saglik Urunleri Sanayi ve Ticaret A.S. Turkey 100.0 Sanofi-Aventis Ilaclari Limited Sirketi Turkey 100.0 Sanofi Pasteur Asi Ticaret A.S. Turkey 100.0 Sanofi-Aventis Ukraine Ukraine 100.0 United States Financial interest (%) as of December 31, 2017 Sanofi US Services Inc United States 100.0 Sanofi-Aventis United States 100.0 Sanofi Pasteur Biologics, LLC United States 100.0 Chattem, Inc. United States 100.0 United States Financial interest (%) as of December 31, 2017 Sanofi Pasteur VaxDesign Corporation United States 100.0 Carderm Capital L.P. United States 100.0 Aventisub LLC United States 100.0 Genzyme Corporation United States 100.0 Armour Pharmaceutical Company United States 100.0 Sanofi Pasteur Inc. United States 100.0 Protein Sciences Corporation United States 100.0 Aventis Inc. United States 100.0 VaxServe, Inc. United States 100.0 Other Countries Financial interest (%) as Sanofi-Aventis South Africa (Pty) Ltd South Africa 100.0 Zentiva South Africa (Pty) Ltd South Africa 100.0 Sanofi-Aventis Algérie Algeria 100.0 Winthrop Pharma Saidal SPA Algeria 70.0 Sanofi-Aventis Argentina S.A. Argentina 100.0 Genzyme de Argentina SA Argentina 100.0 Sanofi-Aventis Healthcare Pty Ltd Australia 100.0 Sanofi-Aventis Australia Pty Ltd Australia 100.0 Medley Farmaceutica Ltda Brazil 100.0 Sanofi-Aventis Farmaceutica Ltda Brazil 100.0 Sanofi-Aventis Canada Inc. Canada 100.0 Sanofi Consumer Health Inc Canada 100.0 Sanofi Pasteur Limited (Canada) Canada 100.0 Sanofi-Aventis de Chile SA Chile 100.0 Sanofi (Hangzhou) Pharmaceuticals Co., Ltd China 100.0 Sanofi (China) Investment Co., Ltd China 100.0 Sanofi Beijing Pharmaceuticals Co.Ltd China 100.0 Shenzhen Sanofi pasteur Biological Products Co, Ltd China 100.0 Winthrop Pharmaceuticals de Colombia SA Colombia 100.0 Genfar S.A. Colombia 100.0 Sanofi-Aventis de Colombia S.A. Colombia 100.0 Sanofi-Aventis Korea Co. Ltd South Korea 100.0 Genzyme Korea Co Ltd South Korea 100.0 Sanofi-Aventis Gulf FZE United Arab Emirates 100.0 Sanofi-Aventis del Ecuador S.A. Ecuador 100.0 Sanofi Egypt S.A.E Egypt 99.8 Sanofi-Aventis de Guatemala S.A. Guatemala 100.0 Sunstone China Limited Hong Kong 100.0 Sanofi-Aventis Hong-Kong Limited Hong Kong 100.0 Sanofi-Synthelabo (India) Private Ltd India 100.0 Sanofi India Limited India 60.4 Other Countries Financial interest (%) as Shantha Biotechnics Private Ltd India 98.7 PT Aventis Pharma Indonesia 80.0 Sanofi-Aventis Israël Ltd Israel 100.0 Sanofi K.K. Japan 100.0 SSP Co., Ltd Japan 100.0 Winthrop Pharmaceuticals (Malaysia) SDN. BHD. Malaysia 100.0 Sanofi-Aventis (Malaysia) SDN. BHD. Malaysia 100.0 Sanofi-Aventis Maroc Morocco 100.0 Sanofi-Aventis de Mexico S.A de CV Mexico 100.0 Sanofi-Aventis Winthrop SA de CV Mexico 100.0 Sanofi Pasteur SA de CV Mexico 100.0 Sanofi-Aventis Pakistan Ltd Pakistan 52.9 Sanofi-Aventis de Panama S.A. Panama 100.0 Sanofi-Aventis Latin America SA Panama 100.0 Sanofi-Aventis del Peru SA Peru 100.0 Genfar Peru S.A. Peru 100.0 Sanofi-Aventis Philippines Inc Philippines 100.0 Sanofi-Aventis de la Republica Dominicana S.A. Dominican Republic 100.0 Sanofi-Aventis Singapore Pte Ltd Singapore 100.0 Aventis Pharma (Manufacturing) PTE LTD Singapore 100.0 Sanofi Taiwan Co Ltd Taiwan 100.0 Zentiva (Thailand) limited Thailand 100.0 Sanofi-Aventis Thailand Ltd Thailand 100.0 Sanofi-Aventis Pharma Tunisie Tunisia 100.0 Winthrop Pharma Tunisie Tunisia 100.0 Sanofi-Aventis de Venezuela SA Venezuela 100.0 Sanofi-Synthelabo Vietnam Vietnam 70.0 Sanofi Vietnam Shareholding Company Vietnam 100.0 F.2. Principal investments accounted for using the equity method Financial interest (%) Infraserv GmbH & Co. Höchst KG Germany 31.2 Bristol-Myers Squibb / Sanofi Canada Partnership Canada 49.9 China Resources Sanjiu Sanofi Consumer Healthcare Ltd China 30.0 Bristol-Myers Squibb / Sanofi Pharmaceuticals Holding Partnership United States 49.9 Bristol-Myers Squibb / Sanofi Pharmaceuticals Partnership United States 49.9 Bristol-Myers Squibb / Sanofi Pharmaceuticals Partnership Puerto Rico United States 49.9 Bristol-Myers Squibb / Sanofi-Synthélabo Partnership United States 49.9 Bristol-Myers Squibb / Sanofi-Synthélabo Puerto Rico Partnership United States 49.9 Regeneron Pharmaceuticals, Inc. United States 22.2 Onduo LLC United States 50.0 Maphar Morocco 48.3 Bio Atrium AG Switzerland 50.0 |
Events subsequent to December 3
Events subsequent to December 31, 2017 | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Events subsequent to December 31, 2017 | G/ Events subsequent to December 31, 2017 On January 7, 2018, Sanofi Alnylam ∎ Sanofi will obtain global development and commercialization rights to fitusiran, an investigational RNAi therapeutic currently in development for the treatment of people with hemophilia A and B. Global commercialization of fitusiran, upon approval, will be done by Sanofi Genzyme, Sanofi’s Specialty Care Global Business Unit. Alnylam will receive royalties based on net sales of fitusiran products. ∎ Alnylam will obtain global development and commercialization rights to its investigational RNAi therapeutics programs for the treatment of ATTR amyloidosis, including patisiran and ALN-TTRsc02. ∎ With respect to other products falling under the RNAi therapeutics alliance, the material terms of the 2014 Alnylam-Sanofi Genzyme alliance remain unchanged. In January 2018, Sanofi Regeneron The announcement included a series of amendments to the collaboration agreements relating to the funding of additional programs to develop REGN2810 in extended indications, and of additional programs on Dupixent ® The $650 million development budget for the PD-1 The additional programs on Dupixent ® co-morbidity Pursuant to the 2018 Letter Agreement, Regeneron has agreed to grant a limited waiver of the “lock-up” and the obligation to maintain the “Highest Percentage Threshold” in the Amended and Restated Investor Agreement between the companies, so that Sanofi may elect to sell a small percentage of the Regeneron common stock it owns to fund a portion of the cemiplimab and dupilumab development expansion. This waiver will allow Sanofi to sell in private transactions to Regeneron up to an aggregate of 1.4 million shares of Regeneron common stock through the end of 2020. If Regeneron decides not to purchase the shares, Sanofi will be allowed to sell those shares on the open market, subject to certain volume and timing limitations. Upon expiration of the limited waiver under the 2018 Letter Agreement, the Amended Investor Agreement will be amended to define “Highest Percentage Threshold” as the lower of (i) 25% of Regeneron outstanding shares of Class A Stock and Common Stock (taken together) and (ii) the higher of (a) Sanofi’s percentage ownership of Class A Stock and Common Stock (taken together) on such termination date and (b) the highest percentage ownership of Regeneron outstanding shares of Class A Stock and Common Stock (taken together) Sanofi attains following such termination date. On January 22, 2018, Sanofi Bioverativ Inc. (1) On January 29, 2018, Sanofi Ablynx ® € € (1) Non-GAAP financial measure: see definition in “— Item 5 — A.1.5. Segment information — 3/ Business Net Income”. |
Summary of Significant Accoun56
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Basis of consolidation | B.1. Basis of consolidation In accordance with IFRS 10 (Consolidated Financial Statements), the consolidated financial statements of Sanofi include the financial statements of entities that Sanofi controls directly or indirectly, regardless of the level of the equity interest in those entities. An entity is controlled when Sanofi has power over the entity, exposure or rights to variable returns from its involvement with the entity, and the ability to affect those returns through its power over the entity. In determining whether control exists, potential voting rights must be taken into account if those rights are substantive, in other words they can be exercised on a timely basis when decisions about the relevant activities of the entity are to be taken. Entities consolidated by Sanofi are referred to as “subsidiaries”. Entities that Sanofi controls by means other than voting rights are referred to as “consolidated structured entities”. In accordance with IFRS 11 (Joint Arrangements), Sanofi classifies its joint arrangements (i.e. arrangements in which Sanofi exercises joint control with one or more other parties) either as a joint operation or a joint venture. In the case of a joint operation, Sanofi recognizes the assets and liabilities of the operation in proportion to its rights and obligations relating to those assets and liabilities. Joint ventures are accounted for using the equity method. Sanofi exercises joint control over a joint arrangement when decisions relating to the relevant activities of the arrangement require the unanimous consent of Sanofi and the other parties with whom control is shared. Sanofi exercises significant influence over an entity when it has the power to participate in the financial and operating policy decisions of that entity, but does not have the power to exercise control or joint control over those policies. In accordance with IAS 28 (Investments in Associates and Joint Ventures), the equity method is used to account for joint ventures (i.e. entities over which Sanofi exercises joint control) and for associates (i.e. entities over which Sanofi exercises significant influence). Under the equity method, the investment is initially recognized at cost, and subsequently adjusted to reflect changes in the net assets of the associate or joint venture. IAS 28 does not specify the treatment to be adopted on first-time application of the equity method to an investee following a step acquisition. Consequently, by reference to paragraph 10 of IAS 28, Sanofi has opted to apply the cost method, whereby the carrying amount of the investment represents the sum of the historical cost amounts for each step in the acquisition. As of the date on which the equity method is first applied, goodwill (which is included in the carrying amount of the investment) is determined for each acquisition step. The same applies to subsequent increases in the percentage interest in the equity-accounted investment. When the criteria of IFRS 5 are met, Sanofi recognizes the equity interest within the balance sheet line item Assets held for sale or exchange held-for-sale Transactions between consolidated companies are eliminated, as are intragroup profits. A list of the principal companies included in the consolidation in 2017 is presented in Note F. |
Foreign currency translation | B.2. Foreign currency translation B.2.1. Accounting for foreign currency transactions in the financial statements of consolidated entities Non-current Monetary assets and liabilities denominated in foreign currencies are translated using the exchange rate prevailing at the end of the reporting period. The gains and losses resulting from foreign currency translation are recorded in the income statement. However, foreign exchange gains and losses arising from the translation of advances between consolidated subsidiaries for which settlement is neither planned nor likely to occur in the foreseeable future are recognized in equity, in the line item Change in currency translation differences B.2.2. Foreign currency translation of the financial statements of foreign entities Sanofi presents its consolidated financial statements in euros ( € All assets and liabilities are translated into euros using the exchange rate of the subsidiary’s functional currency prevailing at the end of the reporting period. Income statements are translated using a weighted average exchange rate for the period, except in the case of foreign subsidiaries in a hyperinflationary economy. The resulting currency translation difference is recognized as a separate component of equity in the consolidated statement of comprehensive income, and is recognized in the income statement only when the subsidiary is sold or is wholly or partially liquidated. |
Business combinations and transactions with non-controlling interests | B.3. Business combinations and transactions with non-controlling B.3.1. Accounting for business combinations, transactions with non-controlling Business combinations are accounted for in accordance with IFRS 3 (Business Combinations) and IFRS 10 (Consolidated Financial Statements). Business combinations are accounted for using the acquisition method. Under this method, the acquiree’s identifiable assets and liabilities that satisfy the recognition criteria of IFRS 3 (Business Combinations) are measured initially at their fair values as at the date of acquisition, except for (i) non-current The principal accounting rules applicable to business combinations and transactions with non-controlling ∎ Acquisition-related Operating income ∎ Contingent consideration is recognized in equity if the contingent payment is settled by delivery of a fixed number of the acquirer’s equity instruments; otherwise, it is recognized in Liabilities related to business combinations Fair value remeasurement of contingent consideration pre-revision ∎ In the case of a step acquisition, the previously-held equity interest is remeasured at its acquisition-date fair value. The difference between this fair value and the carrying amount is recorded in profit or loss, along with any gains or losses relating to the previously-held ∎ Goodwill may be calculated on the basis of either (i) the entire fair value of the acquiree, or (ii) a share of the fair value of the acquiree proportionate to the interest acquired. This option may be elected for each acquisition individually. ∎ The effects of (i) a buyout of non-controlling ∎ In a partial disposal resulting in loss of control, the retained equity interest is remeasured at fair value at the date of loss of control. The gain or loss recognized on the disposal includes the effect of that remeasurement, and items that were initially recognized in equity are reclassified to profit or loss. ∎ Adjustments to the values of assets and liabilities initially determined provisionally (pending the results of independent valuations or further analysis) are recognized as a retrospective adjustment to goodwill if they are made within twelve months of the acquisition date. Once this twelve-month Purchase price allocations are performed under the responsibility of management, with assistance from an independent valuer in the case of major acquisitions. The revised IFRS 3 does not specify an accounting treatment for contingent consideration arising from a business combination made by an entity prior to the acquisition of control in that entity and carried as a liability in the acquired entity’s balance sheet. The accounting treatment applied by Sanofi to such a liability is to measure it at fair value as of the acquisition date and to report it in the line item Liabilities related to business combinations and to non-controlling B.3.2. Goodwill The excess of the cost of an acquisition over Sanofi’s interest in the fair value of the identifiable assets and liabilities of the acquiree is recognized as goodwill at the date of the business combination. Goodwill arising on the acquisition of subsidiaries is shown in a separate balance sheet line item, whereas goodwill arising on the acquisition of investments accounted for using the equity method is recorded in Investments accounted for using the equity method Goodwill arising on foreign operations is expressed in the functional currency of the country concerned and translated into euros using the exchange rate prevailing at the end of the reporting period. In accordance with IAS 36 (Impairment of Assets), goodwill is carried at cost less accumulated impairment (see Note B.6.). Goodwill is tested for impairment annually and whenever events or circumstances indicate that impairment might exist. Such events or circumstances include significant changes more likely than not to have an other-than-temporary |
Other intangible assets | B.4. Other intangible assets Other intangible assets are initially measured at acquisition cost or production cost, including any directly attributable costs of preparing the asset for its intended use, or (in the case of assets acquired in a business combination) at fair value as of the date of the business combination. Intangible assets are amortized on a straight line basis over their useful lives. The useful lives of other intangible assets are reviewed at the end of each reporting period. The effect of any adjustment to useful lives is recognized prospectively as a change in accounting estimate. Amortization of other intangible assets is recognized in the income statement within Amortization of intangible assets internally-developed Sanofi does not own any intangible assets with an indefinite useful life, other than goodwill. Intangible assets (other than goodwill) are carried at cost less accumulated amortization and accumulated impairment, if any, in accordance with IAS 36 (see Note B.6.). B.4.1. Research and development not acquired in a business combination Internally generated research and development Under IAS 38, research expenses are recognized in profit or loss when incurred. Internally generated development expenses are recognized as an intangible asset if, and only if, all the following six criteria can be demonstrated: (a) the technical feasibility of completing the development project; (b) Sanofi’s intention to complete the project; (c) Sanofi’s ability to use the project; (d) the probability that the project will generate future economic benefits; (e) the availability of adequate technical, financial and other resources to complete the project; and (f) the ability to measure the development expenditure reliably. Due to the risks and uncertainties relating to regulatory approval and to the research and development process, the six criteria for capitalization are usually considered not to have been met until the product has obtained marketing approval from the regulatory authorities. Consequently, internally generated development expenses arising before marketing approval has been obtained, mainly the cost of clinical trials, are generally expensed as incurred within Research and development expenses Some industrial development expenses (such as those incurred in developing a second-generation Other intangible assets Other intangible assets Separately acquired research and development Payments for separately acquired research and development are capitalized within Other intangible assets Payments under research and development arrangements relating to access to technology or to databases and payments made to purchase generics dossiers are also capitalized, and amortized over the useful life of the intangible asset. Subcontracting arrangements, payments for research and development services, and continuous payments under research and development collaborations which are unrelated to the outcome of that collaboration, are expensed over the service term. B.4.2. Other intangible assets not acquired in a business combination Licenses other than those related to pharmaceutical products and research projects, in particular software licenses, are capitalized at acquisition cost, including any directly attributable cost of preparing the software for its intended use. Software licenses are amortized on a straight line basis over their useful lives for Sanofi (three to five years). Internally generated costs incurred to develop or upgrade software are capitalized if the IAS 38 recognition criteria are satisfied, and amortized on a straight line basis over the useful life of the software from the date on which the software is ready for use. B.4.3. Other intangible assets acquired in a business combination Other intangible assets acquired in a business combination which relate to in-process Other intangible assets In-process Rights to products currently marketed by Sanofi are amortized on a straight line basis over their useful lives, determined on the basis of cash flow forecasts which take into account the patent protection period of the marketed product. |
Property, plant and equipment | B.5. Property, plant and equipment Property, plant and equipment is initially measured and recognized at acquisition cost, including any directly attributable cost of preparing the asset for its intended use, or (in the case of assets acquired in a business combination) at fair value as of the date of the business combination. The component-based After initial measurement, property, plant and equipment is carried at cost less accumulated depreciation and impairment, except for land which is carried at cost less impairment. Subsequent costs are not recognized as assets unless (i) it is probable that future economic benefits associated with those costs will flow to Sanofi and (ii) the costs can be measured reliably. Borrowing costs attributable to the financing of items of property, plant and equipment, and incurred during the construction period, are capitalized as part of the acquisition cost of the item. Government grants relating to property, plant and equipment are deducted from the acquisition cost of the asset to which they relate. In accordance with IAS 17 (Leases), items of property, plant and equipment leased by Sanofi as lessee under finance leases are recognized as an asset in the balance sheet, with the related lease obligation recognized as a liability. A lease qualifies as a finance lease if it transfers substantially all of the risks and rewards of ownership of the asset to Sanofi. Assets held under finance leases are carried at the lower of the fair value of the leased asset or the present value of the minimum lease payments, and are depreciated over the shorter of the useful life of the asset or the term of the lease. The depreciable amount of items of property, plant and equipment, net of any residual value, is depreciated on a straight line basis over the useful life of the asset. The useful life of an asset is usually equivalent to its economic life. The customary useful lives of property, plant and equipment are as follows: Buildings 15 to 40 years Fixtures 10 to 20 years Machinery and equipment 5 to 15 years Other 3 to 15 years Useful lives and residual values of property, plant and equipment are reviewed annually. The effect of any adjustment to useful lives or residual values is recognized prospectively as a change in accounting estimate. Depreciation of property, plant and equipment is recognized as an expense in the income statement, in the relevant classification of expense by function. |
Impairment of property, plant and equipment, intangible assets, and investments accounted for using the equity method | B.6. Impairment of property, plant and equipment, intangible assets, and investments accounted for using the equity method B.6.1. Impairment of property, plant and equipment and intangible assets In accordance with IAS 36 (Impairment of Assets), assets that generate separate cash flows and assets included in cash-generating units (CGUs) are assessed for impairment when events or changes in circumstances indicate that the asset or CGU may be impaired. A CGU is the smallest identifiable group of assets that generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. Under IAS 36, each CGU to which goodwill is allocated must (i) represent the lowest level within the entity at which the goodwill is monitored for internal management purposes, and (ii) not be larger than an operating segment determined in accordance with IFRS 8 (Operating Segments), before application of the IFRS 8 aggregation criteria (see Note B.26.). Quantitative and qualitative indications of impairment (primarily relating to the status of the research and development portfolio, pharmacovigilance, patent litigation, and the launch of competing products) are reviewed at the end of each reporting period. If there is any internal or external indication of impairment, Sanofi estimates the recoverable amount of the asset or CGU. Other intangible assets not yet available for use (such as capitalized in-process When there is an internal or external indication of impairment, Sanofi estimates the recoverable amount of the asset and recognizes an impairment loss if the carrying amount of the asset exceeds its recoverable amount. The recoverable amount of the asset is the higher of its fair value less costs to sell or its value in use. To determine value in use, Sanofi uses estimates of future cash flows generated by the asset or CGU, prepared using the same methods as those used in the initial measurement of the asset or CGU on the basis of medium-term strategic plans. In the case of goodwill, estimates of future cash flows are based on a medium-term strategic plan, an extrapolation of the cash flows beyond that plan, and a terminal value. In the case of other intangible assets, the period used is based on the economic life of the asset. Estimated cash flows are discounted at long-term market interest rates that reflect the best estimate by Sanofi of the time value of money, the risks specific to the asset or CGU, and economic conditions in the geographical regions in which the business activity associated with the asset or CGU is located. Certain assets and liabilities that are not directly attributable to a specific CGU are allocated between CGUs on a basis that is reasonable, and consistent with the allocation of the corresponding goodwill. Impairment losses arising on property, plant and equipment, on software and on certain rights are recognized in the relevant classification of expense by function. Impairment losses arising on other intangible assets are recognized within Impairment of intangible assets B.6.2. Impairment of investments accounted for using the equity method In accordance with IAS 28 (Investments in Associates and Joint Ventures), Sanofi applies the criteria specified in IAS 39 (Financial Instruments: Recognition and Measurement) to determine whether investments accounted for using the equity method may be impaired (see Note B.8.2.). If an investment is impaired, the amount of the impairment loss is determined by applying IAS 36 (see Note B.6.1.) and recognized in Share of profit/(loss) from investments accounted for using the equity method B.6.3. Reversals of impairment losses charged against property, plant and equipment, intangible assets, and investments accounted for using the equity method At the end of each reporting period, Sanofi assesses whether events or changes in circumstances indicate that an impairment loss recognized in a prior period in respect of an asset (other than goodwill) or an investment accounted for using the equity method can be reversed. If this is the case, and the recoverable amount as determined based on the revised estimates exceeds the carrying amount of the asset, Sanofi reverses the impairment loss only to the extent of the carrying amount that would have been determined had no impairment loss been recognized for the asset. Reversals of impairment losses in respect of other intangible assets are recognized within the income statement line item Impairment of intangible assets Share of profit/(loss) from investments accounted for using the equity method |
Assets held for sale or exchange and liabilities related to assets held for sale or exchange | B.7. Assets held for sale or exchange and liabilities related to assets held for sale or exchange In accordance with IFRS 5 (Non-Current non-current Non-current ∎ the appropriate level of management must be committed to a plan to sell; ∎ an active program to locate a buyer and complete the plan must have been initiated; ∎ the asset must be actively marketed for sale at a price that is reasonable in relation to its current fair value; ∎ completion of the sale should be foreseeable within the twelve months following the date of reclassification to Assets held for sale or exchange ∎ actions required to complete the plan should indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. Before initial reclassification of the non-current Assets held for sale or exchange Subsequent to reclassification to Assets held for sale or exchange non-current non-current In a disposal of an equity interest leading to loss of control, all the assets and liabilities of the entity involved are classified as held-for-sale Assets held for sale or exchange Liabilities related to assets held for sale or exchange The profit or loss generated by a held-for-sale ∎ represents a separate major line of business or geographical area of operations; or, ∎ is part of a single coordinated plan to dispose of a separate major line of business or geographical area of operations; or, ∎ is a subsidiary acquired exclusively with a view to resale. In accordance with IFRS 10, transactions between companies that are held for sale or treated as discontinued operations and other consolidated companies are eliminated. Events or circumstances beyond Sanofi’s control may extend the period to complete the sale or exchange beyond one year without precluding classification of the asset (or disposal group) in Assets held for sale or exchange ∎ The assets and liabilities previously classified as held for sale are reclassified to the appropriate balance sheet line items, with no restatement of comparative periods. ∎ Each asset is measured at the lower of (a) its carrying amount before the asset was reclassified as held for sale, adjusted for any depreciation, amortization or revaluation that would have been recognized if the asset had not been reclassified as held for sale, or (b) its recoverable amount at the date of reclassification. ∎ The backlog of depreciation, amortization and impairment not recognized while non-current Other gains and losses, and litigation ∎ The net income of a business previously classified as discontinued or as held for sale or exchange and reported on a separate line in the income statement must be reclassified and included in net income from continuing operations, for all periods presented. ∎ In addition, segment information relating to the income statement and the statement of cash flows (acquisitions of non-current |
Financial instruments | B.8. Financial instruments B.8.1. Non-derivative In accordance with IAS 39 (Financial Instruments: Recognition and Measurement) and IAS 32 (Financial Instruments: Presentation), Sanofi has adopted the following classification for non-derivative Non-derivative Classification, presentation and subsequent measurement of non-derivative Financial assets at fair value through profit or loss These assets are classified in the balance sheet within the line items Other non -current Other current assets Cash and cash equivalents Financial assets at fair value through profit or loss comprise assets held for trading (financial assets acquired principally for the purpose of reselling them in the near term, usually within less than 12 months), and financial instruments designated as fair value through profit and loss on initial recognition in accordance with the conditions for application of the fair value option. Such financial assets are carried at fair value, without any deduction for transaction costs that may be incurred on sale. Realized and unrealized gains and losses resulting from changes in the fair value of these assets are recognized in the income statement, in Financial income Financial expenses Realized and unrealized foreign exchange gains and losses on financial assets in currencies other than functional currencies are recognized in the income statement in Financial income Financial expenses Available-for-sale Available-for-sale non-derivative available-for-sale “Held-to-maturity Available-for-sale Other non -current Available-for-sale available-for-sale Financial income Financial expenses Interest income and dividends on equity instruments are recognized in the income statement within Financial income Available-for-sale Contingent consideration receivable in connection with divestments is recognized as an available-for-sale Subsequent adjustments to fair value arising from revisions to those estimates are recognized immediately in profit or loss. Interest income generated on such assets is calculated using the effective interest method, and recognized in profit or loss on an accruals basis. An impairment loss is taken against contingent consideration arising on divestments where counterparty credit risk suggests its value may have become impaired. Other adjustments to fair value, such as those arising from a change in the discount rate, are recognized in equity within the statement of comprehensive income in the period in which they occur. Held-to-maturity Held-to-maturity non-derivative Such investments are measured at amortized cost using the effective interest method. Loans and receivables Loans and receivables are non-derivative Other current assets Accounts receivable Cash and cash equivalents “Long-term Other non -current B.8.2. Impairment of non-derivative Indicators of impairment are reviewed for all non-derivative The impairment loss on loans and receivables, which are measured at amortized cost, is the difference between the carrying amount of the asset and the present value of estimated future cash flows discounted at the financial asset’s original effective interest rate. When an impairment loss is identified on an available-for-sale The impairment loss on investments in companies not quoted in an active market and measured at cost is the difference between the carrying amount of the investment and the present value of its estimated future cash flows, discounted at the current market interest rate for similar financial assets. Impairment losses in respect of loans are recognized within Financial expenses Impairment losses in respect of trade receivables are recognized within Selling and general expenses Impairment losses on equity instruments classified as available-for-sale B.8.3. Derivative instruments Derivative instruments that do not qualify for hedge accounting are initially and subsequently measured at fair value, with changes in fair value recognized in the income statement in Other operating income Financial income Financial expenses Derivative instruments that qualify for hedge accounting are measured in accordance with the hedge accounting requirements of IAS 39 (see Note B.8.4.). IFRS 13 (Fair Value Measurement) requires counterparty credit risk to be taken into account when measuring the fair value of financial instruments. This risk is estimated on the basis of observable, publicly-available statistical data. Policy on offsetting In order for a financial asset and a financial liability to be presented as a net amount in the balance sheet under IAS 32, there must be (a) a legally enforceable right to offset and (b) the intention either to settle on a net basis, or to realize the asset and settle the liability simultaneously. In addition, IFRS 7 (Financial Instruments: Disclosures) requires the notes to the financial statements to include a schedule showing a list of any offsets recognized under IAS 32 and of transactions for which only criterion (a) is met, i.e. potential offsets such as those specified in close out netting agreements (positions offset only in the event of default, as specified in the International Swaps and Derivatives Association (ISDA) standard). B.8.4. Hedging Hedging involves the use of derivative financial instruments. Changes in the fair value of such instruments are intended to offset the exposure of the hedged items to changes in fair value. As part of its overall interest rate risk and foreign exchange risk management policy, Sanofi enters into various transactions involving derivative instruments. Derivative instruments used in connection with Sanofi’s hedging policy may include forward exchange contracts, currency options, interest rate swaps and interest rate options. Derivative financial instruments qualify as hedging instruments for hedge accounting purposes when (a) at the inception of the hedge there is formal designation and documentation of the hedging relationship and of the risk management strategy and objective; (b) the hedge is expected by management to be highly effective in offsetting the risk; (c) the forecast transaction being hedged is highly probable and presents an exposure to variations in cash flows that could ultimately affect profit or loss; (d) the effectiveness of the hedge can be reliably measured; and (e) the effectiveness of the hedge is assessed on an ongoing basis and the hedge is determined actually to have been highly effective throughout the reporting periods for which the hedge was designated. The above criteria are applied when Sanofi uses derivative instruments designated as a fair value hedge, a cash flow hedge or a hedge of a net investment in a foreign operation. Fair value hedge A fair value hedge is a hedge of the exposure to changes in fair value of a recognized asset or liability or unrecognized firm commitment that could affect profit or loss. Changes in fair value of the hedging instrument and changes in fair value of the hedged item attributable to the hedged risk are recognized in the income statement, within Other operating income Financial income Financial expenses Cash flow hedge A cash flow hedge is a hedge of the exposure to variability in cash flows attributable to a particular risk associated with a recognized asset or liability, or a highly probable forecast transaction, which could affect profit or loss. Changes in fair value of the hedging instrument attributable to the effective portion of the hedge are recognized directly in equity in the consolidated statement of comprehensive income. Changes in fair value attributable to the ineffective portion of the hedge are recognized in the income statement within Other operating income Financial income Financial expenses Cumulative changes in fair value of the hedging instrument previously recognized in equity are reclassified to the income statement when the hedged transaction affects profit or loss. These transferred gains and losses are recorded within Other operating income Financial income Financial expenses When a forecast transaction results in the recognition of a non-financial When the hedging instrument expires or is sold, terminated or exercised, the cumulative gain or loss previously recognized in equity remains separately recognized in equity and is not reclassified to the income statement until the forecast transaction occurs. However, if Sanofi no longer expects the forecast transaction to occur, the cumulative gain or loss previously recognized in equity is recognized immediately in profit or loss. Hedge of a net investment in a foreign operation In a hedge of a net investment in a foreign operation, changes in the fair value of the hedging instrument attributable to the effective portion of the hedge are recognized directly in equity in the consolidated statement of comprehensive income. Changes in fair value attributable to the ineffective portion of the hedge are recognized in the income statement within Financial income Financial expenses Financial income Financial expenses Discontinuation of hedge accounting Hedge accounting is discontinued when (a) the hedging instrument expires or is sold, terminated or exercised, or (b) the hedge no longer meets the criteria for hedge accounting, or (c) Sanofi revokes the hedge designation, or (d) management no longer expects the forecast transaction to occur. B.8.5. Non-derivative Borrowings and debt Bank borrowings and debt instruments are initially measured at fair value of the consideration received, net of directly attributable transaction costs. Subsequently, they are measured at amortized cost using the effective interest method. All costs related to the issuance of borrowings or debt instruments, and all differences between the issue proceeds net of transaction costs and the value on redemption, are recognized within Financial expenses Liabilities related to business combinations and to non-controlling These line items record the fair value of (i) contingent consideration payable in connection with business combinations (see Note B.3.1. for a description of the relevant accounting policy), and (ii) commitments to buy out equity holders of subsidiaries, including put options granted to non-controlling Adjustments to the fair value of commitments to buy out equity holders of subsidiaries, including put options granted to non-controlling Other non-derivative Other non-derivative B.8.6. Fair value of financial instruments The disclosures required under IFRS 13 relating to the fair value of the principal financial assets and liabilities reported in the consolidated balance sheet and in the notes to consolidated financial statements, and to the level of those instruments in the fair value hierarchy, are presented in Note D.12. The disclosures required under IFRS 13 relating to the sensitivity of level 3 fair value measurements are presented in Note D.18. The table below shows the disclosures required under IFRS 7 relating to the measurement principles applied to financial instruments. Method used to determine fair value Note Type of financial instrument Measurement Valuation Market data Exchange rate Interest rate D.7. Available-for-sale Fair value Quoted market price N/A N/A D.7. Available-for-sale Fair value Quoted market price N/A N/A D.7. Available-for-sale Fair value Under IAS 39, contingent consideration receivable on a divestment is a financial asset. The fair value of such assets is determined by adjusting the contingent consideration at the end of the reporting period using the method described in Note D.7. D.7. Long-term loans and advances and other non-current Amortized cost The amortized cost of long-term loans and advances and other non-current D.7. Financial assets recognized under the fair value option (a) Fair value Market value N/A N/A D.20. Forward currency contracts Fair value Present value of Mid Market Spot < 1 year: Mid Money Market D.20. Interest rate swaps Fair value Present value of Mid Market Spot < 1 year: Mid Money Market > 1 year: Mid Zero Coupon D.20. Cross-currency swaps Fair value Present value of Mid Market Spot < 1 year: Mid Money Market > 1 year: Mid Zero Coupon D.13. Investments in mutual funds Fair value Market value N/A N/A D.13. Negotiable debt instruments, commercial paper, instant access deposits and term deposits Amortized cost Because these instruments have a maturity of less than 3 months, amortized cost is regarded as an acceptable approximation of fair value as disclosed in the notes to the consolidated financial statements. In the case of debt with a maturity of less than 3 months, amortized cost is regarded as an acceptable approximation of fair value as reported in the notes to the consolidated financial statements. D.17. Debt Amortized cost (b) For debt with a maturity of more than 3 months, fair value as reported in the notes to the consolidated financial statements is determined either by reference to quoted market prices at the end of the reporting period (quoted instruments) or by discounting the future cash flows based on observable market data at the end of the reporting period (unquoted instruments). D.18. Liabilities related to business combinations and to non-controlling Fair value Quoted market price N/A N/A D.18. Liabilities related to business combinations and to non-controlling Fair value (c) Under IAS 32, contingent consideration payable in a business combination is a financial liability. The fair value of such liabilities is determined by adjusting the contingent consideration at the end of the reporting period using the method described in Note D.18. (a) These assets are held to fund a deferred compensation plan offered to certain employees. (b) In the case of debt designated as a hedged item in a fair value hedging relationship, the carrying amount in the consolidated balance sheet includes changes in fair value attributable to the hedged risk(s). (c) For business combinations completed prior to application of the revised IFRS 3, contingent consideration is recognized when payment becomes probable (see Note B.3.1.). The other financial assets and liabilities included in the consolidated balance sheet are: ∎ Non-derivative ∎ Equity interests in companies not quoted in an active market and the fair value of which cannot be measured reliably, which are measured at amortized cost in accordance with IAS 39. B.8.7. Derecognition of financial instruments Financial assets are derecognized when the contractual rights to cash flows from the asset have ended or have been transferred and when Sanofi has transferred substantially all risks and rewards of ownership of the asset. If Sanofi has neither transferred nor retained substantially all the risks and rewards of ownership of a financial asset, it is derecognized if Sanofi does not retain control of the asset. A financial liability is derecognized when Sanofi’s contractual obligations in respect of the liability are discharged, cancelled or extinguished. B.8.8. Risks relating to financial instruments Market risks in respect of non-current Credit risk is the risk that customers may fail to pay their debts. This risk also arises as a result of the concentration of Sanofi’s sales with its largest customers, in particular certain wholesalers in the United States. Customer credit risk is described in “Item 3.D. – Risk Factors – We are subject to the risk of non-payment |
Inventories | B.9. Inventories Inventories are measured at the lower of cost or net realizable value. Cost is calculated using the weighted average cost method or the first-in, first-out The cost of finished goods inventories includes costs of purchase, costs of conversion and other costs incurred in bringing the inventories to their present location and condition. Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale. During the launch phase of a new product, any inventories of that product are written down to zero pending regulatory approval. The write-down is reversed once it becomes highly probable that marketing approval will be obtained. |
Cash and cash equivalents | B.10. Cash and cash equivalents Cash and cash equivalents as shown in the consolidated balance sheet and statement of cash flows comprise cash, plus liquid short-term investments that are readily convertible into cash and are subject to an insignificant risk of changes in value in the event of movements in interest rates. |
Treasury shares | B.11. Treasury shares In accordance with IAS 32, Sanofi treasury shares are deducted from equity, irrespective of the purpose for which they are held. No gain or loss is recognized in the income statement on the purchase, sale, impairment or cancellation of treasury shares. |
Provisions for risks | B.12. Provisions for risks In accordance with IAS 37 (Provisions, Contingent Liabilities and Contingent Assets), Sanofi records a provision when it has a present obligation, whether legal or constructive, as a result of a past event; it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation; and a reliable estimate can be made of the amount of the outflow of resources. If the obligation is expected to be settled more than twelve months after the end of the reporting period, or has no definite settlement date, the provision is recorded within Non-current -current Provisions relating to the insurance programs in which Sanofi’s captive insurance company participates are based on risk exposure estimates calculated by management, with assistance from independent actuaries, using IBNR (Incurred But Not Reported) techniques. Those techniques use past claims experience, within Sanofi and in the market, to estimate future trends in the cost of claims. Contingent liabilities are not recognized, but are disclosed in the notes to the financial statements unless the possibility of an outflow of economic resources is remote. Sanofi estimates provisions on the basis of events and circumstances related to present obligations at the end of the reporting period and of past experience, and to the best of management’s knowledge at the date of preparation of the financial statements. Reimbursements offsetting the probable outflow of resources are recognized as assets only if it is virtually certain that they will be received. Contingent assets are not recognized. Restructuring provisions are recognized if Sanofi has a detailed, formal restructuring plan at the end of the reporting period and has announced its intention to implement this plan to those affected by it. No provisions are recorded for future operating losses. Sanofi records non-current Increases in provisions to reflect the effects of the passage of time are recognized within Financial expenses |
Revenue recognition | B.13. Revenue recognition B.13.1. Net sales Revenue arising from the sale of goods is presented in the income statement within Net sales sales-based Revenue is recognized when all of the following conditions have been met: the risks and rewards of ownership have been transferred to the customer; Sanofi no longer has effective control over the goods sold; the amount of revenue and costs associated with the transaction can be measured reliably; and it is probable that the economic benefits associated with the transaction will flow to Sanofi, in accordance with IAS 18 (Revenue). In particular, the contracts between Sanofi Pasteur and government agencies specify conditions for the supply and acceptance of batches of vaccine; revenue is recognized when those conditions are met. Sanofi offers various types of price reductions on its products. In particular, products sold in the United States are covered by various governmental programs (such as Medicare and Medicaid) under which products are sold at a discount. Rebates are granted to healthcare authorities, and under contractual arrangements with certain customers. Some wholesalers are entitled to chargeback incentives based on the selling price to the end customer, under specific contractual arrangements. Cash discounts may also be granted for prompt payment. Returns, discounts, incentives and rebates, as described above, are recognized in the period in which the underlying sales are recognized as a reduction of gross sales. These amounts are calculated as follows: ∎ Provisions for chargeback incentives are estimated on the basis of the relevant subsidiary’s standard sales terms and conditions, and in certain cases on the basis of specific contractual arrangements with the customer. They represent management’s best estimate of the amount of chargeback incentives that will ultimately be claimed by the customer. ∎ Provisions for rebates based on attainment of sales targets are estimated and accrued as each of the underlying sales transactions is recognized. ∎ Provisions for price reductions under Government and State programs, largely in the United States, are estimated on the basis of the specific terms of the relevant regulations or agreements, and accrued as each of the underlying sales transactions is recognized. ∎ Provisions for sales returns are calculated on the basis of management’s best estimate of the amount of product that will ultimately be returned by customers. In countries where product returns are possible, Sanofi operates a returns policy that allows the customer to return products within a certain period either side of the expiry date (usually 12 months after the expiry date). The provision is estimated on the basis of past experience of sales returns. Sanofi also takes into account factors such as levels of inventory in its various distribution channels, product expiry dates, information about potential discontinuation of products, the entry of competing generics into the market, and the launch of over-the-counter In each case, the provisions are subject to continuous review and adjustment as appropriate based on the most recent data available to management. Sanofi believes that it has the ability to measure each of the above provisions reliably, using the following factors in developing its estimates: ∎ the nature and patient profile of the underlying product; ∎ the applicable regulations or the specific terms and conditions of contracts with governmental authorities, wholesalers and other customers; ∎ historical data relating to similar contracts, in the case of qualitative and quantitative rebates and chargeback incentives; ∎ past experience and sales growth trends for the same or similar products; ∎ actual inventory levels in distribution channels, monitored by Sanofi using internal sales data and externally provided data; ∎ the shelf life of Sanofi products; and ∎ market trends including competition, pricing and demand. B.13.2. Other revenues Other revenues mainly comprise royalties under licensing agreements (see Note C.), and VaxServe sales of products sourced from third-party manufacturers. VaxServe is a Vaccines segment entity whose operations include the distribution within the United States of vaccines and other products manufactured by third parties. Some sales recorded by VaxServe are presented within the line item Other revenues |
Cost of sales | B.14. Cost of sales Cost of sales |
Research and development | B.15. Research and development Note B.4.1. “Research and development not acquired in a business combination” and Note B.4.3. “Other intangible assets acquired in a business combination” describe the principles applied to the recognition of research and development costs. Contributions or reimbursements received from alliance partners are recorded as a reduction of Research and development expenses |
Other operating income and expenses | B.16. Other operating income and expenses B.16.1. Other operating income Other operating income co-promotion Upfront payments received are deferred until the service obligation is met. Milestone payments are assessed on a case by case basis, and recognized in the income statement on delivery of the products and/or upon the service obligation being met. Revenue generated in connection with these services is recognized on the basis of delivery of the goods or provision of the services to the other contracting party. This line item also includes realized and unrealized foreign exchange gains and losses on operating activities (see Note B.8.4.), and operating gains on disposals not regarded as major disposals (see Note B.20.). B.16.2. Other operating expenses Other operating expenses |
Amortization and impairment of intangible assets | B.17. Amortization and impairment of intangible assets B.17.1. Amortization of intangible assets The expenses recorded in this line item comprise amortization of product rights (see Note D.4.), given that the benefit of those rights to Sanofi’s commercial, industrial and development functions cannot be separately identified. Amortization of software, and of other rights of an industrial or operational nature, is recognized as an expense in the income statement, in the relevant line items of expense by function. B.17.2. Impairment of intangible assets This line item records impairment losses (other than those associated with restructuring) recognized against intangible assets (including goodwill, but excluding software and other rights of an industrial or operational nature), and any reversals of such impairment losses. |
Fair value remeasurement of contingent consideration | B.18. Fair value remeasurement of contingent consideration Changes in the fair value of contingent consideration that was (i) already carried in the books of an acquired entity, or (ii) granted in connection with a business combination and initially recognized as a liability in accordance with the revised IFRS 3, are reported in profit or loss in accordance with the principles described in Note B.3.1. Such adjustments are reported separately in the income statement, in the line item Fair value remeasurement of contingent consideration. This line item also includes changes in the fair value of contingent consideration recognized in connection with divestments and classified as an available-for-sale Finally, it also includes the effect of the unwinding of discount, and of exchange rate movements where the asset or liability is expressed in a currency other than the functional currency of the reporting entity. |
Restructuring costs and similar items | B.19. Restructuring costs and similar items Restructuring costs are expenses incurred in connection with the transformation or reorganization of Sanofi’s operations or support functions. Such costs include collective redundancy plans, compensation to third parties for early termination of contracts, and commitments made in connection with transformation or reorganization decisions. They also include accelerated depreciation charges arising from site closures and losses on asset disposals resulting from such decisions. In addition, this line item includes expenses incurred in connection with programs implemented as part of the transformation strategy announced in November 2015 intended to deliver a global information systems solution, to standardize and consolidate processes, and to transition towards a worldwide services platform. |
Other gains and losses, and litigation | B.20. Other gains and losses, and litigation The line item Other gains and losses, and litigation ∎ gains and losses on major disposals of property, plant and equipment, of intangible assets, of assets (or groups of assets and liabilities) held for sale, or of a business within the meaning of the revised IFRS 3, other than those considered to be restructuring costs; ∎ impairment losses and reversals of impairment losses on assets (or groups of assets and liabilities) held for sale, other than those considered to be restructuring costs; ∎ gains on bargain purchases; and ∎ costs and provisions relating to major litigation; and ∎ pre-tax |
Financial expenses and income | B.21. Financial expenses and income B.21.1. Financial expenses Financial expenses Financial expenses long-term B.21.2. Financial income Financial income |
Income tax expense | B.22. Income tax expense Income tax expense Sanofi accounts for deferred taxes in accordance with IAS 12 (Income Taxes), using the methods described below: ∎ Deferred tax assets and liabilities are recognized on taxable and deductible temporary differences, and on tax loss carry-forwards. ∎ French business taxes include a value added based component: “CVAE” ( Cotisation sur la Valeur Ajoutée des Entreprises ∎ Deferred tax assets and liabilities are calculated using the tax rate expected to apply in the period when the corresponding temporary differences are expected to reverse, based on tax rates enacted or substantively enacted at the end of the reporting period. ∎ Deferred tax assets are recognized in respect of deductible temporary differences, tax losses available for carry-forward case-by-case medium-term ∎ A deferred tax liability is recognized for temporary differences relating to interests in subsidiaries, associates and joint ventures, except in cases where Sanofi is able to control the timing of the reversal of the temporary differences. This applies in particular when Sanofi is able to control dividend policy and it is probable that the temporary differences will not reverse in the foreseeable future. ∎ No deferred tax is recognized on eliminations of intragroup transfers of interests in subsidiaries, associates or joint ventures. ∎ Each tax entity calculates its own net deferred tax position. All net deferred tax asset and liability positions are then aggregated and shown in separate line items on the relevant side of the consolidated balance sheet. Deferred tax assets and liabilities are offset only if (i) Sanofi has a legally enforceable right to offset current tax assets and current tax liabilities, and (ii) the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority. ∎ Deferred taxes are not discounted, except implicitly in the case of deferred taxes on assets and liabilities which are already impacted by discounting. ∎ Withholding taxes on intragroup royalties and dividends, and on royalties and dividends collected from third parties, are accounted for as current income taxes. In accounting for business combinations, Sanofi complies with the revised IFRS 3 in regards to the recognition of deferred tax assets after the initial accounting period. Consequently, any deferred tax assets recognized by the acquiree after the end of this period in respect of temporary differences or tax loss carry-forwards existing at the acquisition date are recognized in profit or loss. The positions adopted by Sanofi in tax matters are based on its interpretation of tax laws and regulations. Some of those positions may be subject to uncertainty. In such cases, Sanofi assesses the amount of the tax liability on the basis of the following assumptions: that its position will be examined by one or more tax authorities on the basis of all relevant information; that a technical assessment is carried out with reference to legislation, case law, regulations, and established practice; and that each position is assessed individually (or collectively where appropriate), with no offset or aggregation between positions. Those assumptions are assessed on the basis of facts and circumstances existing at the end of the reporting period. When an uncertain tax position is considered probable, a tax liability is recognized (or a deferred tax asset is not recognized) measured using Sanofi’s best estimate. The amount of the liability includes any penalties and late payment interest. The line item Income tax expense |
Employee benefit obligations | B.23. Employee benefit obligations Sanofi offers retirement benefits to employees and retirees. Such benefits are accounted for in accordance with IAS 19 (Employee Benefits). Benefits are provided in the form of either defined contribution plans or defined benefit plans. In the case of defined contribution plans, the cost is recognized immediately in the period in which it is incurred, and equates to the amount of the contributions paid by Sanofi. For defined benefit plans, Sanofi generally recognizes its obligations to pay pensions and similar benefits to employees as a liability, based on an actuarial estimate of the rights vested or currently vesting in employees and retirees, using the projected unit credit method. Estimates are performed at least once a year, and rely on financial assumptions (such as discount rates) and demographic assumptions (such as life expectancy, retirement age, employee turnover, and the rate of salary increases). Obligations relating to other post-employment benefits (healthcare and life insurance) offered by Sanofi companies to employees are also recognized as a liability based on an actuarial estimate of the rights vested or currently vesting in employees and retirees at the end of the reporting period. Such liabilities are recognized net of the fair value of plan assets. In the case of multi-employer defined benefit plans where plan assets cannot be allocated to each participating employer with sufficient reliability, the plan is accounted for as a defined contribution plan, in accordance with paragraph 34 of IAS 19. The benefit cost for the period consists primarily of current service cost, past service cost, net interest cost, gains or losses arising from plan settlements not specified in the terms of the plan, and actuarial gains or losses arising from plan curtailments. Net interest cost for the period is determined by applying the discount rate specified in IAS 19 to the net liability (i.e. the amount of the obligation, net of plan assets) recognized in respect of defined benefit plans. Past service cost is recognized immediately in profit or loss in the period in which it is incurred, regardless of whether or not the rights have vested at the time of adoption (in the case of a new plan) or of amendment (in the case of an existing plan). Actuarial gains and losses on defined benefit plans (pensions and other post-employment benefits), also referred to as “Remeasurements of the net defined benefit liability (asset)”, arise as a result of changes in financial and demographic assumptions, experience adjustments, and the difference between the actual return and interest cost on plan assets. The impacts of those remeasurements are recognized in Other comprehensive income |
Share-based payment | B.24. Share-based payment Share-based payment expense is recognized as a component of operating income, in the relevant classification of expense by function. In measuring the expense, the level of attainment of any performance conditions is taken into account. B.24.1. Stock option plans Sanofi has granted a number of equity-settled share-based In accordance with IFRS 2 (Share-Based The fair value of stock option plans is measured at the date of grant using the Black-Scholes option-holders B.24.2. Employee share ownership plans Sanofi may offer its employees the opportunity to subscribe to reserved share issues at a discount to the reference market price. Shares awarded to employees under such plans fall within the scope of IFRS 2. Consequently, an expense is recognized at the subscription date, based on the value of the discount offered to employees. B.24.3. Restricted share plans Sanofi may award restricted share plans to certain of its employees. The terms of those plans may make the award contingent on the attainment of performance criteria for some of the grantees. In accordance with IFRS 2, an expense equivalent to the fair value of such plans is recognized on a straight line basis over the vesting period of the plan, with the opposite entry recognized in equity. Depending on the country, the vesting period of such plans is either three or four years. Plans with a two-year two-year lock-up The fair value of stock option plans is based on the fair value of the equity instruments granted, representing the fair value of the services received during the vesting period. The fair value of an equity instrument granted under a plan is the market price of the share at the grant date, adjusted for expected dividends during the vesting period. |
Earnings per share | B.25. Earnings per share Basic earnings per share is calculated using the weighted average number of shares outstanding during the reporting period, adjusted on a time-weighted basis from the acquisition date to reflect the number of own shares held by Sanofi. Diluted earnings per share is calculated on the basis of the weighted average number of ordinary shares, computed using the treasury stock method. This method assumes that (a) all outstanding dilutive options and warrants are exercised, and (b) Sanofi acquires its own shares at the quoted market price for an amount equivalent to the cash received as consideration for the exercise of the options or warrants, plus the expense arising on unamortized stock options. |
Segment information | B.26. Segment information In accordance with IFRS 8 (Operating Segments), the segment information reported by Sanofi is prepared on the basis of internal management data provided to the Chief Executive Officer, who is the chief operating decision maker. The performance of those segments is monitored individually using internal reports and common indicators. Sanofi acquired the Consumer Healthcare operations of Boehringer Ingelheim (BI) on January 1, 2017, and during 2017 gradually integrated those operations into its Consumer Healthcare Global Business Unit (GBU); see Note A.5. Following completion of the integration process and with effect from December 31, 2017, Sanofi has identified our Consumer Healthcare business as an operating segment, the financial information for which is reported separately to, and reviewed separately by, the Chief Executive Officer. Until that date the results of the Consumer Healthcare business were included in the Pharmaceuticals segment, as described below. Consequently, as of December 31, 2017 Sanofi has three operating segments: Pharmaceuticals, Consumer Healthcare and Human Vaccines (Vaccines). The Pharmaceuticals segment comprises the commercial operations of the following global franchises: Specialty Care (Rare Diseases, Multiple Sclerosis, Oncology, Immunology), Diabetes & Cardiovascular, Established Prescription Products and Generics, together with research, development and production activities dedicated to our Pharmaceuticals segment. This segment also includes all associates whose activities are related to pharmaceuticals, in particular Regeneron. The Consumer Healthcare segment comprises, for all geographical territories, the commercial operations for our Consumer Healthcare products, together with research, development and production activities dedicated to those products. The Vaccines segment comprises, for all geographical territories (including from January 1, 2017 certain European territories previously included in the Sanofi Pasteur MSD joint venture), the commercial operations of Sanofi Pasteur, together with research, development and production activities dedicated to vaccines. Inter-segment In addition, during 2017 Sanofi finalized a complete realignment of its internal management reporting to match its organizational structure (see Note A.5.). As a result, the costs of Sanofi’s global functions (Medical Affairs, External Affairs, Finance, Human Resources, Legal Affairs, Information Solutions & Technologies, Sanofi Business Services, etc.) are now managed centrally at group-wide level and are no longer allocated to operating segments for internal management reporting purposes. For the year ended December 31, 2017 and subsequent years, the costs of those functions are presented within the “Other” category. That category also includes other reconciling items such as retained commitments in respect of divested activities. Operating segment disclosures as required under IFRS 8 are provided in Note D.35. to the consolidated financial statements. |
Management of capital | B.27. Management of capital In order to maintain or adjust the capital structure, Sanofi can adjust the amount of dividends paid to shareholders, repurchase its own shares, issue new shares, or issue securities giving access to its capital. The following objectives are defined under the terms of Sanofi’s share repurchase programs: ∎ the implementation of any stock option plan giving entitlement to purchase shares in the Sanofi parent company; ∎ the allotment or sale of shares to employees under statutory profit sharing schemes and employee savings plans; ∎ the consideration-free allotment of shares (i.e. restricted share plans); ∎ the cancellation of some or all of the repurchased shares; ∎ market-making in the secondary market by an investment services provider under a liquidity contract in compliance with the ethical code recognized by the Autorité des marchés financiers ∎ the delivery of shares on the exercise of rights attached to securities giving access to the capital by redemption, conversion, exchange, presentation of a warrant or any other means; ∎ the delivery of shares (in exchange, as payment, or otherwise) in connection with mergers and acquisitions; ∎ the execution by an investment services provider of purchases, sales or transfers by any means, in particular via off-market ∎ any other purpose that is or may in the future be authorized under the applicable laws and regulations. Sanofi is not subject to any constraints on equity capital imposed by third parties. Total equity includes Equity attributable to equity holders of Sanofi Equity attributable to non-controlling Sanofi defines “Debt, net of cash and cash equivalents” as (i) the sum of short-term long-term |
Summary of Significant Accoun57
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Summary of Useful Lives of Property, Plant and Equipment | The customary useful lives of property, plant and equipment are as follows: Buildings 15 to 40 years Fixtures 10 to 20 years Machinery and equipment 5 to 15 years Other 3 to 15 years |
Summary of Measurement Principles Applied to Financial Instruments | The table below shows the disclosures required under IFRS 7 relating to the measurement principles applied to financial instruments. Method used to determine fair value Note Type of financial instrument Measurement Valuation Market data Exchange rate Interest rate D.7. Available-for-sale Fair value Quoted market price N/A N/A D.7. Available-for-sale Fair value Quoted market price N/A N/A D.7. Available-for-sale Fair value Under IAS 39, contingent consideration receivable on a divestment is a financial asset. The fair value of such assets is determined by adjusting the contingent consideration at the end of the reporting period using the method described in Note D.7. D.7. Long-term loans and advances and other non-current Amortized cost The amortized cost of long-term loans and advances and other non-current D.7. Financial assets recognized under the fair value option (a) Fair value Market value N/A N/A D.20. Forward currency contracts Fair value Present value of Mid Market Spot < 1 year: Mid Money Market D.20. Interest rate swaps Fair value Present value of Mid Market Spot < 1 year: Mid Money Market > 1 year: Mid Zero Coupon D.20. Cross-currency swaps Fair value Present value of Mid Market Spot < 1 year: Mid Money Market > 1 year: Mid Zero Coupon D.13. Investments in mutual funds Fair value Market value N/A N/A D.13. Negotiable debt instruments, commercial paper, instant access deposits and term deposits Amortized cost Because these instruments have a maturity of less than 3 months, amortized cost is regarded as an acceptable approximation of fair value as disclosed in the notes to the consolidated financial statements. In the case of debt with a maturity of less than 3 months, amortized cost is regarded as an acceptable approximation of fair value as reported in the notes to the consolidated financial statements. D.17. Debt Amortized cost (b) For debt with a maturity of more than 3 months, fair value as reported in the notes to the consolidated financial statements is determined either by reference to quoted market prices at the end of the reporting period (quoted instruments) or by discounting the future cash flows based on observable market data at the end of the reporting period (unquoted instruments). D.18. Liabilities related to business combinations and to non-controlling Fair value Quoted market price N/A N/A D.18. Liabilities related to business combinations and to non-controlling Fair value (c) Under IAS 32, contingent consideration payable in a business combination is a financial liability. The fair value of such liabilities is determined by adjusting the contingent consideration at the end of the reporting period using the method described in Note D.18. (a) These assets are held to fund a deferred compensation plan offered to certain employees. (b) In the case of debt designated as a hedged item in a fair value hedging relationship, the carrying amount in the consolidated balance sheet includes changes in fair value attributable to the hedged risk(s). (c) For business combinations completed prior to application of the revised IFRS 3, contingent consideration is recognized when payment becomes probable (see Note B.3.1.). |
Changes in the scope of conso58
Changes in the scope of consolidation due to acquisitions and divestments (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Boehringer Ingelheim's Consumer Healthcare Business [Member] | |
Statement [LineItems] | |
Schedule of Purchase Price Allocation | The final purchase price allocation for the acquisition of Boehringer Ingelheim’s CHC business is as follows (in € ( € Fair value at acquisition date Property, plant and equipment 67 Other intangible assets 3,771 Other non-current (84) Inventories 296 Other current assets and liabilities 46 Held-for-sale 77 Net deferred tax position (156) Net assets of Boehringer Ingelheim’s CHC business as of January 1, 2017 4,017 Goodwill 2,222 Purchase price 6,239 |
Protein Sciences [Member] | |
Statement [LineItems] | |
Summary of Final Purchase Price Allocation | The provisional purchase price allocation resulted in the recognition of goodwill amounting to € ( € Fair value at acquisition date Other intangible assets 776 Inventories 4 Other assets and liabilities (15) Net deferred tax position (259) Net assets of Protein Sciences as of August 25, 2017 506 Goodwill 125 Purchase price 631 |
European Vaccines business previously included in the Sanofi Pasteur MSD joint venture [Member] | |
Statement [LineItems] | |
Schedule of Purchase Price Allocation | The final purchase price allocation resulted in the recognition of goodwill amounting to € ( € Fair value at acquisition date Other intangible assets 465 Inventories 17 Other current assets 2 Other non-current (5) Net deferred tax position (10) Net assets of the European Vaccines business at the acquisition date 469 Goodwill 21 Purchase price 490 |
Property, plant and equipment (
Property, plant and equipment (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Schedule of Property, Plant and Equipment (Including Assets Held Under Finance Leases) | Property, plant and equipment (including assets held under finance leases) comprise: ( € Land Buildings Machinery and Fixtures, fittings & other Property, plant & Total Gross value at January 1, 2015 372 6,915 9,419 2,215 1,959 20,880 Changes in scope of consolidation (4) 1 (8) 1 (22) (32) Acquisitions and other increases - 11 76 59 1,172 1,318 Disposals and other decreases (3) (4) (17) (126) (23) (173) Currency translation differences 5 144 122 24 25 320 Transfers (a) (1) 269 463 228 (1,083) (124) Reclassification of the Animal Health business (b) (33) (604) (313) (54) (76) (1,080) Gross value at December 31, 2015 336 6,732 9,742 2,347 1,952 21,109 Acquisitions and other increases - 9 48 51 1,232 1,340 Disposals and other decreases (10) (111) (350) (104) (37) (612) Currency translation differences 1 81 36 (1) 15 132 Transfers (a) - 247 558 128 (1,025) (92) Gross value at December 31, 2016 327 6,958 10,034 2,421 2,137 21,877 Changes in scope of consolidation 22 23 11 6 7 69 Acquisitions and other increases - 10 63 54 1,267 1,394 Disposals and other decreases (10) (124) (261) (125) (111) (631) Currency translation differences (21) (326) (278) (75) (84) (784) Transfers (a) - 227 576 169 (919) 53 Gross value at December 31, 2017 318 6,768 10,145 2,450 2,297 21,978 Accumulated depreciation & impairment at January 1, 2015 (17) (2,979) (5,780) (1,549) (159) (10,484) Changes in scope of consolidation 6 5 12 - 22 45 Depreciation expense - (376) (607) (208) - (1,191) Impairment losses, net of reversals - (38) (42) (11) (41) (132) Disposals and other decreases - 3 15 122 13 153 Currency translation differences - (33) (49) (17) - (99) Transfers (a) - 34 90 (4) (1) 119 Reclassification of the Animal Health business (b) - 252 145 26 - 423 Accumulated depreciation & impairment at December 31, 2015 (11) (3,132) (6,216) (1,641) (166) (11,166) Depreciation expense - (356) (595) (190) - (1,141) Impairment losses, net of reversals (3) (31) (17) (30) (78) (159) Disposals and other decreases 3 107 348 100 33 591 Currency translation differences - (37) (16) (2) (2) (57) Transfers (a) 4 22 16 6 26 74 Accumulated depreciation & impairment at December 31, 2016 (7) (3,427) (6,480) (1,757) (187) (11,858) Depreciation expense - (329) (595) (197) - (1,121) Impairment losses, net of reversals (11) (45) (177) (6) (15) (254) Disposals and other decreases - 94 239 117 107 557 Currency translation differences 1 140 147 53 2 343 Transfers (a) (3) (45) (19) (14) 15 (66) Accumulated depreciation & impairment at December 31, 2017 (20) (3,612) (6,885) (1,804) (78) (12,399) Carrying amount at December 31, 2015 325 3,600 3,526 706 1,786 9,943 Carrying amount at December 31, 2016 320 3,531 3,554 664 1,950 10,019 Carrying amount at December 31, 2017 298 3,156 3,260 646 2,219 9,579 (a) This line also includes the effect of the reclassification of assets to Assets held for sale or exchange . (b) This line comprises the property, plant and equipment of the Animal Health business, reclassified to Assets held for sale or exchange as of December 31, 2015 in accordance with IFRS 5 (see Notes D.1. and D.36.). |
Schedule of Amounts for Items of Property, Plant and Equipment Held under Finance Leases | The table below shows amounts for items of property, plant and equipment held under finance leases: ( € 2017 2016 2015 Land 4 3 3 Buildings 102 102 101 Other 9 8 8 Total gross value 115 113 112 Accumulated depreciation and impairment (87) (79) (69) Carrying amount 28 34 43 |
Schedule of Future Minimum Lease Payment Schedule | As of December 31, 2017, the payment schedule is as follows: Payments due by period ( € Total Less than 1 year 1 to 3 years 3 to 5 years More than 5 years Finance lease obligations ∎ 32 11 6 6 9 ∎ 7 2 2 2 1 Total 39 13 8 8 10 |
Goodwill and other intangible60
Goodwill and other intangible assets (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Schedule of Movements in Goodwill | Movements in goodwill comprise: ( € Goodwill Balance at January 1, 2015 39,197 Reclassification of the Animal Health business (a) (1,510) Currency translation differences 1,870 Balance at December 31, 2015 39,557 Acquisitions during the period 5 Currency translation differences 725 Balance at December 31, 2016 40,287 Acquisitions during the period 2,347 Other movements during the period 12 Currency translation differences (2,382) Balance at December 31, 2017 40,264 (a) Comprises the goodwill on the Animal Health business, presented within Assets held for sale or exchange as of December 31, 2016 and 2015. |
Schedule of Movements in Other Intangible Assets | Movements in other intangible assets comprise: ( € Acquired R&D Products, Software Total other assets Gross value at January 1, 2015 3,482 53,130 1,240 57,852 Acquisitions and other increases 1,179 912 154 2,245 Disposals and other decreases (204) (1,321) (27) (1,552) Currency translation differences 189 3,610 35 3,834 Transfers (a) (741) 653 11 (77) Reclassification of the Animal Health business (b) (51) (4,982) (182) (5,215) Gross value at December 31, 2015 3,854 52,002 1,231 57,087 Changes in scope of consolidation - 465 - 465 Acquisitions and other increases 142 127 148 417 Disposals and other decreases (305) (d) (687) (73) (1,065) Currency translation differences 55 1,124 17 1,196 Transfers (a) (97) 76 3 (18) Gross value at December 31, 2016 3,649 53,107 1,326 58,082 Changes in scope of consolidation - 4,546 1 4,547 Acquisitions and other increases 317 212 170 699 Disposals and other decreases (39) (450) (62) (551) Currency translation differences (200) (3,814) (51) (4,065) Transfers (a) (48) 37 (16) (27) Gross value at December 31, 2017 3,679 53,638 1,368 58,685 Accumulated amortization & impairment at January 1, 2015 (2,041) (40,352) (916) (43,309) Amortization expense - (2,651) (108) (2,759) Impairment losses, net of reversals (c) (343) (427) (3) (773) Disposals and other decreases 204 1,257 27 1,488 Currency translation differences (124) (2,662) (23) (2,809) Transfers (a) - 39 (6) 33 Reclassification of the Animal Health business (b) 3 2,908 157 3,068 Accumulated amortization & impairment at December 31, 2015 (2,301) (41,888) (872) (45,061) Amortization expense - (1,712) (104) (1,816) Impairment losses, net of reversals (c) (60) (137) - (197) Disposals and other decreases 108 673 73 854 Currency translation differences (41) (931) (12) (984) Transfers (a) 4 (2) (1) 1 Accumulated amortization & impairment at December 31, 2016 (2,290) (43,997) (916) (47,203) Amortization expense - (1,886) (112) (1,998) Impairment losses, net of reversals (c) (95) (215) (3) (313) Disposals and other decreases 39 443 64 546 Currency translation differences 142 3,138 35 3,315 Transfers (a) - 41 7 48 Accumulated amortization & impairment at December 31, 2017 (2,204) (42,476) (925) (45,605) Carrying amount at December 31, 2015 1,553 10,114 359 12,026 Carrying amount at December 31, 2016 1,359 9,110 410 10,879 Carrying amount at December 31, 2017 1,475 11,162 443 13,080 (a) The “Transfers” line mainly relates to acquired R&D that came into commercial use during the period and is being amortized from the date of marketing approval. (b) Comprises the other intangible assets of the Animal Health business, now reclassified to Assets held for sale or exchange . (c) See Note D.5. (d) Includes the return of product rights to Hanmi Pharmaceutical Co. Ltd in 2016 (see Note D.21.1). |
Detailed Information for Principal Marketed Products | The table below provides information about the principal marketed products, which were recognized in connection with business combinations and represented 85% of the carrying amount of that item as of December 31, 2017: ( € Gross Accumulated Carrying Amortization (a) Residual (b) Carrying Carrying Genzyme 10,287 (6,453) 3,834 10 6 5,009 5,759 Boehringer Ingelheim Consumer Healthcare 3,683 (241) 3,442 16 16 - - Aventis 32,308 (31,724) 584 9 3 1,095 1,548 Chattem 1,217 (451) 766 23 16 930 956 Zentiva 961 (869) 92 9 4 128 187 Protein Sciences 765 (21) 744 13 13 - - Total: principal marketed products 49,221 (39,759) 9,462 7,162 8,450 (a) Weighted averages. The amortization periods for these products vary between 1 and 25 years. (b) Weighted averages. |
Amortization of Softwares Recognized in Income Statement | Amortization of other intangible assets is recognized in the income statement within the line item Amortization of intangible assets ( € 2017 (a) 2016 (a) 2015 (a) Cost of sales 28 28 25 Research and development expenses 22 16 13 Selling and general expenses 53 56 52 Other operating expenses 9 5 4 Total 112 105 94 (a) The results of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current |
Impairment of intangible asse61
Impairment of intangible assets and property, plant and equipment (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Schedule of Allocation of Goodwill | The allocation of goodwill as of December 31, 2017 is shown below: ( € Pharmaceuticals Consumer Vaccines Total Sanofi Goodwill 32,437 6,525 1,302 40,264 |
Investments accounted for usi62
Investments accounted for using the equity method (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Summary of Investments in Associates and Joint Ventures | The table below sets forth Sanofi’s investments accounted for using the equity method: ( € % interest 2017 2016 2015 Regeneron Pharmaceuticals, Inc. (a) 22.2 2,512 2,548 2,245 Onduo LLC 50.0 141 181 - Sanofi Pasteur MSD (b)/(c) - - - 252 Infraserv GmbH & Co. Höchst KG (b) 31.2 73 79 85 Entities and companies managed by Bristol-Myers Squibb (d) 49.9 38 44 43 Other investments - 99 38 51 Total 2,863 2,890 2,676 (a) See Note D.2.2. (b) Joint ventures. (c) See Notes B.1. and D.2.3. (d) Under the terms of the agreements with BMS (see Note C.2.), Sanofi’s share of the net assets of entities majority-owned Investments accounted for using the equity method . |
Summary of Share of Profit or Loss and Other Comprehensive Income of Associates and Joint Ventures | The table below shows Sanofi’s overall share of (i) profit or loss and (ii) other comprehensive income from investments accounted for using the equity method, showing the split between associates and joint ventures in accordance with IFRS 12 (the amounts for each individual associate or joint venture are not material): 2017 2016 2015 ( € Joint ventures Associates Joint ventures Associates Joint ventures Associates Share of profit/(loss) from investments accounted for using the equity method (a) 20 84 20 114 31 (53) Share of other comprehensive income from investments accounted for using the equity method 22 (303) (3) 58 1 235 Total 42 (219) 17 172 32 182 (a) The Sanofi Pasteur MSD joint venture ceased to be accounted for by the equity method on March 8, 2016, the date on which it was announced that the joint venture was to be dissolved (see Notes B.1. and D.2.3.). |
Summary of Principal Transactions and Balances with Related Parties | The principal transactions and balances with related parties are summarized below: ( € 2017 2016 2015 Sales (a) 33 39 218 Royalties and other income (a) 100 156 91 Accounts receivable and other receivables 85 101 81 Purchases and other expenses (including research expenses) (a) 777 708 762 Accounts payable 197 161 196 Other liabilities 20 65 10 (a) For the year ended December 31, 2016, these items include transactions between Sanofi and SPMSD during the period from January 1, 2016 through March 8, 2016 (the date of the announcement that the joint venture was to be dissolved; see Notes B.1. and D.2.3.). |
Summary of Financial Statements of Regeneron, After Adjustments to Comply With IFRS But Before Fair Value Remeasurements | Key items from the consolidated financial statements of Regeneron, after adjustments to comply with IFRS but before fair value remeasurements, are set forth below: ( € 2017 2016 2015 Net sales and other revenues 5,200 4,393 3,698 Net income/(loss) for the period 815 714 232 Other comprehensive income for the period, net of taxes 12 (19) (39) Comprehensive income/(loss) 827 695 193 |
Disclosure of associates - Balance sheet lines | ( € December 31, December 31, December 31, Current assets 3,615 3,001 2,704 Non-current 3,947 4,304 4,529 Total assets 7,562 7,305 7,233 Current liabilities 947 1,178 745 Non-current 1,238 1,218 1,903 Total liabilities 2,185 2,396 2,648 Consolidated shareholders’ equity of Regeneron 5,377 4,909 4,585 |
Summary of Reconciliation to Carrying Amount of Investment | The table below shows a reconciliation to the carrying amount of the investment: ( € December 31, December 31, December 31, % interest 22% 22% 22% Share of equity attributable to Sanofi 1,193 1,084 1,012 Goodwill 810 835 779 Fair value remeasurements of assets and liabilities at the acquisition date 938 1,065 1,039 Other items (a) (429) (436) (585) Carrying amount of the investment in Regeneron 2,512 2,548 2,245 (a) Mainly comprised of the difference arising from Sanofi’s share of the accumulated profits and losses and other changes in the net assets of Regeneron for the periods prior to first-time application of the equity method, and thereafter (i) Sanofi’s share of the stock option expense recognized against equity in the books of Regeneron, and of the deferred taxes recognized against equity in respect of that expense in accordance with IAS 12 paragraph 68C and (ii) the effects of the elimination of internal profits between Sanofi and Regeneron. |
Other Non-current Assets (Table
Other Non-current Assets (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Summary of Other Non-current Assets | Other non-current ( € 2017 2016 2015 Available-for-sale 2,182 1,583 1,609 Pre-funded 53 30 49 Long-term loans and advances and other non-current 730 776 671 Financial assets recognized under the fair value option 336 329 276 Derivative financial instruments (Note D.20.) 63 102 120 Total 3,364 2,820 2,725 |
Summary of Stock Prices of Quoted Equity Investments Classified as Available-for-sale Financial Assets | A 10% decline in stock prices of quoted equity investments classified as available-for-sale ( € Sensitivity Other comprehensive income before tax (156) Income before tax (1) Total (157) |
Summary of Decline in the Quoted Market Prices of Other Available-for-sale Financial Assets | A 10% decline in the quoted market prices of Sanofi’s other available-for-sale ( € Sensitivity Other comprehensive income before tax (13) Income before tax - Total (a) (13) (a) Represents approximately 3.8% of the value of the assets involved. |
Assets and Liabilities Held f64
Assets and Liabilities Held for Sale or Exchange (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Summary of Assets Held for Sale or Exchange, and Liabilities Related to Assets Held for Sale or Exchange | Assets held for sale or exchange, and liabilities related to assets held for sale or exchange, comprise: ( € Note December 31, 2017 December 31, 2016 December 31, 2015 Animal Health business D.36. - 6,376 5,626 Other 34 45 126 Assets held for sale or exchange 34 6,421 5,752 Animal Health business D.36. - 1,165 983 Other - 30 - Liabilities related to assets held for sale or exchange - 1,195 983 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Schedule of Inventories | Inventories comprise the following: 2017 2016 2015 ( € Gross Write- Carrying Gross Write- Carrying Gross Write- Carrying Raw materials 1,041 (79) 962 1,053 (104) 949 1,050 (90) 960 Work in process 4,348 (656) 3,692 4,512 (710) 3,802 4,043 (561) 3,482 Finished goods 2,340 (178) 2,162 2,341 (200) 2,141 2,282 (208) 2,074 Total 7,729 (913) 6,816 7,906 (1,014) 6,892 7,375 (859) 6,516 |
Accounts Receivable (Tables)
Accounts Receivable (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Summary of Accounts Receivable | An analysis of accounts receivable is set forth below: ( € December 31, December 31, December 31, Gross value 7,405 7,506 7,553 Allowances (189) (195) (167) Carrying amount 7,216 7,311 7,386 |
Summary of Gross Value of Overdue Receivables | The gross value of overdue receivables was € € € Overdue Overdue by: ( € Gross <1 month 1 to 3 months 3 to 6 months 6 to 12 months > 12 months December 31, 2017 644 247 143 113 48 93 December 31, 2016 597 133 103 121 42 198 December 31, 2015 677 171 147 117 83 159 |
Other Current Assets (Tables)
Other Current Assets (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Schedule of Other Current Assets | An analysis of other current assets is set forth below: ( € 2017 2016 2015 Taxes recoverable 832 1,034 1,006 Other receivables (a) 627 705 461 Prepaid expenses 336 333 300 Interest rate derivatives measured at fair value (see Note D.20.) - 3 39 Currency derivatives measured at fair value (see Note D.20.) 133 105 59 Other current financial assets 77 31 13 Total 2,005 2,211 1,878 (a) This line mainly comprises advance payments to suppliers. The 2016 figure also includes the impact of the transactions finalized in 2016 for which payments were received in January 2017. |
Financial Assets and Liabilit68
Financial Assets and Liabilities Measured at Fair Value (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Summary of Assets and Liabilities Measured at Fair Value | The table below shows the balance sheet amounts of assets and liabilities measured at fair value. 2017 2016 2015 Level in the fair value hierarchy Level in the fair value hierarchy Level in the fair value hierarchy ( € Note Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Financial assets measured at fair value Quoted equity investments D.7. 1,568 - - 900 - - 1,451 - - Unquoted equity investments D.7. - - 123 - - 112 - - 102 Quoted debt securities D.7. 199 - - 113 - - 56 - - Contingent consideration relating to divestments D.7. - - 342 - - 458 - - - Financial assets recognized under the fair value option D.7. 336 - - 329 - - 276 - - Non-current D.7. - 63 - - 102 - - 120 - Current derivatives D.11. - 133 - - 108 - - 98 - Mutual fund investments D.13. 7,207 - - 6,210 - - 5,042 - - Total financial assets measured at fair value 9,310 196 465 7,552 210 570 6,825 218 102 Financial liabilities measured at fair value CVRs issued in connection with the acquisition of Genzyme D.18. 75 - - 85 - - 24 - - Bayer contingent purchase consideration arising from the acquisition of Genzyme D.18. - - 701 - - 1,013 - - 1,040 MSD contingent consideration (European vaccines business) D.18. - - 420 - - 354 - - - Other contingent consideration arising from business combinations D.18. - - 81 - - 1 - - 6 Liabilities related to non-controlling D.18. - - 92 - - 123 - - 181 Non-current - 16 - - - - - 3 - Current derivatives D.19.5. - 58 - - 132 - - 82 - Total financial liabilities measured at fair value 75 74 1,294 85 132 1,491 24 85 1,227 |
Cash and Cash Equivalents (Tabl
Cash and Cash Equivalents (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Summary of Cash and Cash Equivalents | ( € 2017 2016 2015 Cash 472 1,077 1,361 Cash equivalents (a) 9,843 9,196 7,787 Cash and cash equivalents (b) 10,315 10,273 9,148 (a) As of December 31, 2017, cash equivalents mainly comprised (i) € € € € € € € € € € € € (b) Includes immaterial amounts held by Sanofi’s Venezuelan subsidiaries as of December 31, 2017 and December 31, 2016 (versus € |
Net Deferred Tax Position (Tabl
Net Deferred Tax Position (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Summary of Net Deferred Tax Position | An analysis of the net deferred tax position is set forth below: ( € 2017 2016 2015 Deferred taxes on: Consolidation adjustments (intragroup margin in inventory) 969 1,095 1,074 Provision for pensions and other employee benefits 1,263 1,538 1,522 Remeasurement of other acquired intangible assets (a) (1,713) (2,797) (3,370) Recognition of acquired property, plant and equipment at fair value (36) (44) (48) Equity interests in subsidiaries and investments in other entities (b) (592) (818) (833) Tax losses available for carry-forward 1,059 1,070 1,162 Stock options and other share-based payments 88 126 131 Accrued expenses and provisions deductible at the time of payment (c) 1,344 2,202 2,061 Other 303 5 120 Net deferred tax asset/(liability) 2,685 2,377 1,819 (a) Includes the following deferred tax liabilities as of December 31, 2017: € € (b) In some countries, Sanofi is liable for withholding taxes and other tax charges when dividends are distributed. Consequently, Sanofi recognizes a deferred tax liability on the reserves of French and foreign subsidiaries (approximately € (c) Includes deferred tax assets related to restructuring provisions, amounting to € € € |
Summary of Tax Losses Available for Carry-forward | The table below shows when tax losses available for carry-forward are due to expire: ( € Tax losses available for carry-forward (a) 2018 33 2019 6 2020 24 2021 55 2022 43 2023 and later 5,003 Total as of December 31, 2017 5,164 Total as of December 31, 2016 5,176 Total as of December 31, 2015 5,209 (a) Excluding tax loss carry-forwards € € |
Consolidated Shareholders' Eq71
Consolidated Shareholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Summary of Treasury Shares Held | As of December 31, 2017, the share capital was € € Number of shares % of share capital for December 31, 2017 0.2 0.01% December 31, 2016 20.0 1.55% December 31, 2015 4.0 0.30% January 1, 2015 9.5 0.72% |
Summary of Movements Share Capital | Movements in the share capital of the Sanofi parent company over the last three years are set forth below: Date Transaction Number of shares Share capital (a) Additional paid-in capital (a) Reserves (a) December 31, 2014 1,319,367,445 2,639 5,614 - During 2015 Capital increase by exercise of stock subscription options (b) 9,000,127 18 555 - During 2015 Capital increase by issuance of restricted shares (c) 3,071,173 6 (6) - Board meeting of April 29, 2015 Reduction in share capital by cancellation of treasury shares (18,482,786) (37) (1,454) - Board meeting of October 28, 2015 Reduction in share capital by cancellation of treasury shares (7,259,200) (15) (670) - December 31, 2015 1,305,696,759 2,611 4,039 - During 2016 Capital increase by exercise of stock subscription options (b) 3,418,421 7 212 - During 2016 Capital increase by issuance of restricted shares (c) 3,664,248 7 (7) - Board meeting of April 28, 2016 Reduction in share capital by cancellation of treasury shares (22,561,090) (45) (1,655) - Board meeting of July 22, 2016 Capital increase reserved for employees 1,803,986 4 96 - December 31, 2016 1,292,022,324 2,584 2,685 - During 2017 Capital increase by exercise of stock subscription options (b) 3,764,646 8 215 - During 2017 Capital increase by issuance of restricted shares (c) 3,394,574 7 (7) - Board meeting of April 27, 2017 Reduction in share capital by cancellation of treasury shares (36,380,198) (73) (2,709) - Board meeting of July 28, 2017 Capital increase reserved for employees 1,621,098 3 103 - Board meeting of December 14, 2017 Reduction in share capital by cancellation of treasury shares (10,402,540) (21) (229) (616) December 31, 2017 1,254,019,904 2,508 58 (616) (a) Amounts expressed in millions of euros. (b) Shares issued on exercise of Sanofi stock subscription options. (c) Shares vesting under restricted share plans and issued in the period. |
Principal Characteristics of Restricted Share Plans | Restricted share plans are accounted for in accordance with the policies described in Note B.24.3. The principal characteristics of those plans are as follows: 2017 2016 2015 Type of plan Performance Performance share plan Performance share plan Date of Board meeting approving the plan May 10, 2017 May 4, 2016 June 24, 2015 Total number of shares awarded 3,587,465 4,097,925 3,832,840 Of which plans subject to a 4-year - - 2,546,420 Fair value per share awarded (a) - - 79.52 Of which plans subject to a 3-year 3,587,465 4,097,925 1,286,420 Fair value per share awarded (a) 81.50 61.06 82.96 Fair value of plan at the date of grant ( € 292 250 309 (a) Quoted market price per share at the date of grant, adjusted for dividends expected during the vesting period. |
Summary of Currency Translation Differences | Currency translation differences comprise the following: ( € 2017 2016 2015 Attributable to equity holders of Sanofi (1,439) 1,787 701 Attributable to non-controlling (32) (18) (22) Total (1,471) 1,769 679 |
Summary of Movements within Other Comprehensive Income | Movements within other comprehensive income are shown below: ( € 2017 2016 2015 Balance, beginning of period 973 45 (2,315) Attributable to equity holders of Sanofi 992 67 (2,287) Attributable to non-controlling (19) (22) (28) Actuarial gains/(losses): ∎ (30) (104) 650 ∎ 2 (2) 2 ∎ (a) (90) (22) (187) Items not subsequently reclassifiable to profit or loss (b) (118) (128) 465 Available-for-sale ∎ (c) 837 (104) (29) ∎ 1 (1) (8) ∎ (145) 50 16 Cash flow hedges: ∎ (d) (24) 30 (3) ∎ - 1 - ∎ 8 (10) 1 Change in currency translation differences: ∎ (d)/(e) (2,956) 1,033 1,681 ∎ (284) 57 243 ∎ - - (9) ∎ - - 3 Items subsequently reclassifiable to profit or loss (2,563) 1,056 1,895 Balance, end of period (1,708) 973 45 Attributable to equity holders of Sanofi (1,674) 992 67 Attributable to non-controlling (34) (19) (22) (a) Includes the impact of changes in corporate income tax rates: € € (b) Items not subsequently reclassifiable to profit or loss and attributable to the Animal Health business divested on January 1, 2017: € € (c) Includes reclassifications to profit or loss: € € € (d) Includes reclassifications to profit or loss: € € € (e) Items subsequently reclassifiable to profit or loss and attributable to the Animal Health business divested on January 1, 2017: € € € € € |
Summary of Stock Purchase Option Plans Still Outstanding or Options Exercised | The table shows all Sanofi stock purchase option plans still outstanding or under which options were exercised in the year ended December 31, 2017. Source Date of grant Number of Start date of Expiry date Exercise price € Number of options Synthélabo 03/30/1999 716,040 03/31/2004 03/30/2019 38.08 104,701 Total 104,701 |
Disclosure of Stock Subscription Option Plan Outstanding and Option Exercised | The table shows all Sanofi stock subscription option plans still outstanding or under which options were exercised in the year ended December 31, 2017. Source Date of Number of Start date of exercise Expiry date Exercise price ( € Number of options Sanofi-aventis 12/13/2007 11,988,975 12/14/2011 12/13/2017 62.33 - Sanofi-aventis 03/02/2009 7,736,480 03/04/2013 03/01/2019 45.09 1,679,020 Sanofi-aventis 03/01/2010 8,121,355 03/03/2014 02/28/2020 54.12 2,726,260 Sanofi-aventis 03/09/2011 874,500 03/10/2015 03/09/2021 50.48 242,578 Sanofi 03/05/2012 814,050 03/06/2016 03/05/2022 56.44 528,001 Sanofi 03/05/2013 788,725 03/06/2017 03/05/2023 72.19 531,605 Sanofi 03/05/2014 1,009,250 03/06/2018 03/05/2024 73.48 863,815 Sanofi 06/24/2015 435,000 06/25/2019 06/24/2025 89.38 433,500 Sanofi 05/04/2016 402,750 05/05/2020 05/04/2026 75.90 401,500 Sanofi 05/10/2017 378,040 05/11/2021 05/10/2027 88.97 378,040 Total 7,784,319 |
Summary of Stock Options Outstanding at Each Balance Sheet Date | A summary of stock options outstanding at each balance sheet date, and of movements during the relevant periods, is presented below: Number of Weighted exercise price per share ( € Total ( € Options outstanding at January 1, 2015 25,602,256 61.14 1,565 Options exercisable 22,225,731 60.79 1,351 Options granted 435,000 89.38 39 Options exercised (9,033,607) 63.50 (573) Options cancelled (a) (179,634) 60.04 (11) Options forfeited (956,400) 70.38 (67) Options outstanding at December 31, 2015 15,867,615 60.03 953 Options exercisable 13,028,045 57.56 750 Options granted 402,750 75.90 31 Options exercised (3,441,429) 63.83 (220) Options cancelled (a) (161,863) 68.09 (11) Options forfeited (601,271) 67.00 (40) Options outstanding at December 31, 2016 12,065,802 59.03 713 Options exercisable 9,646,903 54.67 527 Options granted 378,040 88.97 33 Options exercised (3,796,788) 58.92 (224) Options cancelled (a) (130,312) 69.06 (9) Options forfeited (627,722) 62.33 (39) Options outstanding at December 31, 2017 7,889,020 60.08 474 Options exercisable 5,812,165 52.93 308 (a) Mainly due to the grantees leaving Sanofi. |
Summary of Options Outstanding and Exercisable | The table below provides summary information about options outstanding and exercisable as of December 31, 2017: Outstanding Exercisable Range of exercise prices per share Number of options Average residual life (years) Weighted average exercise price per share ( € Number of options Weighted average exercise price per share ( € From € € 104,701 1.24 38.08 104,701 38.08 From € € 1,679,020 1.16 45.09 1,679,020 45.09 From € € 3,496,839 2.54 54.22 3,496,839 54.22 From € € 1,796,920 6.37 73.64 531,605 72.19 From € € 811,540 8.36 89.19 - - Total 7,889,020 5,812,165 |
Summary of Number of Shares Used to Compute Diluted Earnings Per Share | Diluted earnings per share is computed using the number of shares outstanding plus stock options with dilutive effect and restricted shares. (million) 2017 2016 2015 Average number of shares outstanding 1,256.9 1,286.6 1,306.2 Adjustment for stock options with dilutive effect 2.7 2.6 6.0 Adjustment for restricted shares 7.2 6.8 8.5 Average number of shares used to compute diluted earnings per share 1,266.8 1,296.0 1,320.7 |
Debt, Cash and Cash Equivalen72
Debt, Cash and Cash Equivalents (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Summary of Changes in Financial Position | Changes in financial position during the period were as follows: ( € 2017 2016 2015 Long-term debt 14,326 16,815 13,118 Short-term debt and current portion of long-term debt 1,275 1,764 3,436 Interest rate and currency derivatives used to hedge debt (57) (100) (156) Total debt 15,544 18,479 16,398 Cash and cash equivalents (10,315) (10,273) (9,148) Interest rate and currency derivatives used to hedge cash and cash equivalents - - 4 Debt, net of cash and cash equivalents 5,229 8,206 7,254 |
Summary of Reconciliation of Carrying Amount to Value on Redemption | Reconciliation of carrying amount to value on redemption Value on redemption ( € Carrying Amortized Adjustment December 31, December 31, December 31, Long-term debt 14,326 64 (81) 14,309 16,765 13,023 Short-term debt and current portion of long-term debt 1,275 - - 1,275 1,764 3,422 Interest rate and currency derivatives used to hedge debt (57) - 50 (7) (10) (35) Total debt 15,544 64 (31) 15,577 18,519 16,410 Cash and cash equivalents (10,315) - - (10,315) (10,273) (9,148) Interest rate and currency derivatives used to hedge cash and cash equivalents - - - - - 4 Debt, net of cash and cash equivalents 5,229 64 (31) 5,262 8,246 7,266 |
Disclosure Of Movement In Total Debt | The table below shows the movement in total debt during the period: Cash flows from financing activities Other Non-cash ( € December 31, Repayments New Currency Reclassification non- current to Other (a) December 31, Long-term debt 16,815 (8) 41 - (300) (2,187) (35) 14,326 Short-term debt and current portion of long-term debt 1,764 (2,360) - 30 (337) 2,187 (9) 1,275 Interest rate and currency derivatives used to hedge debt (100) - - - - - 43 (57) Total debt 18,479 (2,368) 41 30 (637) - (1) 15,544 (a) Includes fair value remeasurements. |
Summary of Debt by Type Valuation of Redemptio | Debt, net of cash and cash equivalents by type, at value on redemption 2017 2016 2015 ( € Non- current Current Total Non- current Current Total Non- current Current Total Bond issues 14,195 820 15,015 16,657 823 17,480 12,484 2,991 15,475 Other bank borrowings 81 203 284 61 715 776 477 176 653 Finance lease obligations 20 11 31 34 19 53 49 18 67 Other borrowings 13 4 17 13 4 17 13 9 22 Bank credit balances - 237 237 - 203 203 - 228 228 Interest rate and currency derivatives used to hedge debt (7) - (7) (9) (1) (10) (11) (24) (35) Total debt 14,302 1,275 15,577 16,756 1,763 18,519 13,012 3,398 16,410 Cash and cash equivalents - (10,315) (10,315) - (10,273) (10,273) - (9,148) (9,148) Interest rate and currency derivatives used to hedge cash and cash equivalents - - - - - - - 4 4 Debt, net of cash and cash equivalents 14,302 (9,040) 5,262 16,756 (8,510) 8,246 13,012 (5,746) 7,266 |
Summary of Debt by Maturity at Value on Redemption | Debt by maturity, at value on redemption December 31, 2017 Current Non-current ( € Total 2018 2019 2020 2021 2022 2023 and Bond issues 15,015 820 2,050 2,417 2,168 1,850 5,710 Other bank borrowings 284 203 8 25 4 4 40 Finance lease obligations 31 11 3 2 3 3 9 Other borrowings 17 4 - - - - 13 Bank credit balances 237 237 - - - - - Interest rate and currency derivatives used to hedge debt (7) - (6) (1) - - Total debt 15,577 1,275 2,055 2,443 2,175 1,857 5,772 Cash and cash equivalents (10,315) (10,315) - - - - - Interest rate and currency derivatives used to hedge cash and cash equivalents - - - - - - - Debt, net of cash and cash equivalents 5,262 (9,040) 2,055 2,443 2,175 1,857 5,772 December 31, 2016 Current Non-current ( € Total 2017 2018 2019 2020 2021 2022 and Bond issues 17,480 823 2,174 2,050 2,475 2,398 7,560 Other bank borrowings 776 715 16 8 14 - 23 Finance lease obligations 53 19 13 2 2 3 14 Other borrowings 17 4 - - - - 13 Bank credit balances 203 203 - - - - - Interest rate and currency derivatives used to hedge debt (10) (1) (6) (3) - - - Total debt 18,519 1,763 2,197 2,057 2,491 2,401 7,610 Cash and cash equivalents (10,273) (10,273) - - - - - Interest rate and currency derivatives used to hedge cash and cash equivalents - - - - - - - Debt, net of cash and cash equivalents 8,246 (8,510) 2,197 2,057 2,491 2,401 7,610 December 31, 2015 Current Non-current ( € Total 2016 2017 2018 2019 2020 2021 and Bond issues 15,475 2,991 750 2,128 1,550 1,459 6,597 Other bank borrowings 653 176 438 8 12 14 5 Finance lease obligations 67 18 17 14 7 2 9 Other borrowings 22 9 - - - - 13 Bank credit balances 228 228 - - - - - Interest rate and currency derivatives used to hedge debt (35) (24) (1) (1) (6) (3) - Total debt 16,410 3,398 1,204 2,149 1,563 1,472 6,624 Cash and cash equivalents (9,148) (9,148) - - - - - Interest rate and currency derivatives used to hedge cash and cash equivalents 4 4 - - - - - Debt, net of cash and cash equivalents 7,266 (5,746) 1,204 2,149 1,563 1,472 6,624 |
Summary of Debt by Interest Rate | The figures shown are values on redemption, before the effects of derivative instruments: ( € Total 2018 2019 2020 2021 2022 2023 and Fixed-rate debt 13,513 75 1,294 2,416 2,168 1,850 5,710 of which euro 11,418 of which US dollar 2,095 % fixed-rate 87% Floating-rate debt (maturity based on contractual repricing date) 2,064 2,064 - - - - - of which euro 1,550 of which US dollar 45 % floating-rate 13% Debt 15,577 2,139 1,294 2,416 2,168 1,850 5,710 Cash and cash equivalents (10,315) (10,315) of which euro (8,205) of which US dollar (1,653) % floating-rate 100% Debt, net of cash and cash equivalents 5,262 (8,176) 1,294 2,416 2,168 1,850 5,710 Sanofi manages its net debt in two currencies: the euro and the US dollar. The floating-rate To optimize the cost of debt and/or reduce the volatility of debt, Sanofi uses derivative instruments (interest rate swaps, cross currency swaps and interest rate options) that alter the fixed/floating rate split of debt and the maturity based on contractual repricing dates, as shown below: ( € Total 2018 2019 2020 2021 2022 2023 and Fixed-rate debt 9,746 75 (256) 1,999 2,168 50 5,710 of which euro 8,068 of which US dollar 1,678 % fixed-rate 63% Floating-rate debt (maturity based on contractual repricing date) 5,831 5,831 - - - - - of which euro 4,900 of which US dollar 462 % floating-rate 37% Debt 15,577 5,906 (256) 1,999 2,168 50 5,710 Cash and cash equivalents (10,315) (10,315) of which euro (8,205) of which US dollar (1,653) % floating-rate 100% Debt, net of cash and cash equivalents 5,262 (4,409) (256) 1,999 2,168 50 5,710 |
Summary of Interest Rate of Debt Net of Cash and Cash Equivalents at Value on Redemption | The table below shows the fixed/floating rate split of debt, net of cash and cash equivalents at value on redemption after taking account of derivative instruments as of December 31, 2016 and 2015: ( € 2016 % 2015% Fixed-rate debt 13,651 74% 10,435 64% Floating-rate debt 4,868 26% 5,975 36% Debt 18,519 100% 16,410 100% Cash and cash equivalents (10,273) (9,144) Debt, net of cash and cash equivalents 8,246 7,266 |
Summary of Interest Rate Fluctuations of Debt Net of Cash and Cash Equivalents | The projected full-year Change in euro and US dollar short-term Impact on pre-tax net income ( € Impact on pre-tax income/(expense) recognized directly in equity € +100 bp 45 - +25 bp 11 - -25 bp (11) - -100 bp (45) - |
Summary of Debt by Currency | The table below shows debt, net of cash and cash equivalents by currency at December 31, 2017, before and after derivative instruments contracted to convert third party debt into the functional currency of the borrowing entity: ( € Before derivative instruments After derivative instruments Euro 4,763 4,763 US dollar 487 487 Indian rupee (150) (150) Saudi riyal 102 102 Algerian dinar 138 138 Other currencies (78) (78) Debt, net of cash and cash equivalents 5,262 5,262 |
Summary of Debt by Currency | The table below shows debt, net of cash and cash equivalents by currency at December 31, 2016 and 2015, after derivative instruments contracted to convert third party debt into the functional currency of the borrowing entity: ( € 2016 2015 Euro 6,460 3,356 US dollar 2,565 4,221 Other currencies (779) (311) Debt, net of cash and cash equivalents 8,246 7,266 |
Amount of Future Undiscounted Contractual Cash Flows Relating to Debt and Derivative Instruments Designated as Hedges of Debt | The table below shows the amount of future undiscounted contractual cash flows (principal and interest) relating to debt and to derivative instruments designated as hedges of debt: December 31, 2017 Payments due by period ( € Total 2018 2019 2020 2021 2022 2023 and Debt 16,682 1,441 2,301 2,650 2,307 1,950 6,033 principal 15,509 1,201 2,062 2,444 2,175 1,857 5,770 interest (a) 1,173 240 239 206 132 93 263 Net cash flows related to derivative instruments (51) (38) (32) 1 8 10 - Total 16,631 1,403 2,269 2,651 2,315 1,960 6,033 (a) Interest flows are estimated on the basis of forward interest rates applicable as of December 31, 2017. Future contractual cash flows are shown on the basis of the carrying amount in the balance sheet at the reporting date, without reference to any subsequent management decision that might materially alter the structure of Sanofi’s debt or its hedging policy. The tables below show the amount of future undiscounted contractual cash flows (principal and interest) relating to debt and to derivative instruments designated as hedges of debt as of December 31, 2016 and 2015: December 31, 2016 Payments due by period ( € Total 2017 2018 2019 2020 2021 2022 and Debt 19,937 1,951 2,477 2,304 2,708 2,537 7,960 Principal 18,451 1,678 2,217 2,054 2,491 2,401 7,610 Interest (a) 1,486 273 260 250 217 136 350 Net cash flows related to derivative instruments (104) (42) (33) (29) (2) 1 1 Total 19,833 1,909 2,444 2,275 2,706 2,538 7,961 (a) Interest flows are estimated on the basis of forward interest rates applicable as of December 31, 2016. December 31, 2015 Payments due by period ( € Total 2016 2017 2018 2019 2020 2021 and Debt 17,960 3,653 1,471 2,389 1,794 1,668 6,985 Principal 16,325 3,308 1,215 2,146 1,564 1,472 6,620 Interest (a) 1,635 345 256 243 230 196 365 Net cash flows related to derivative instruments (165) (78) (38) (26) (21) (2) - Total 17,795 3,575 1,433 2,363 1,773 1,666 6,985 (a) Interest flows are estimated on the basis of forward interest rates applicable as of December 31, 2015. |
Liabilities related to busine73
Liabilities related to business combinations and to non-controllinginterests (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Summary of Movements in Liabilities Related to Business Combinations and to Non-Controlling Interests | Movements in liabilities related to business combinations and to non-controlling ( € Liabilities non-controlling (a) CVRs (b) Bayer MSD contingent Other Total (d) Balance at January 1, 2015 178 154 896 - 36 1,264 Payments made - - (63) - (7) (70) Fair value remeasurements through profit or loss: (gain)/loss (including unwinding of discount) (c) - (143) 104 - (14) (53) Other movements (5) - - - (11) (16) Currency translation differences 8 13 103 - 2 126 Balance at December 31, 2015 181 24 1,040 - 6 1,251 New business combinations - - - 354 - 354 Payments made - - (137) - (3) (140) Fair value remeasurements through profit or loss: (gain)/loss (including unwinding of discount) (c) - 58 78 - (1) 135 Other movements (58) - - - - (58) Currency translation differences - 3 32 - (1) 34 Balance at December 31, 2016 123 85 1,013 354 1 1,576 New business combinations (e) - - - - 85 85 Payments made - - (165) - (61) (226) Fair value remeasurements through profit or loss: (gain)/loss (including unwinding of discount) (c) - 1 (28) 71 (1) 43 Other movements (28) - - - 57 29 Currency translation differences (3) (11) (119) (5) - (138) Balance at December 31, 2017 92 75 701 420 81 1,369 (a) Includes put options granted to non-controlling non-controlling (b) Based on the quoted market price per CVR of $0.38 as of December 31, 2017 and 2016, and $0.11 as of December 31, 2015. (c) Amounts reported within the income statement line item Fair value remeasurement of contingent consideration , and mainly comprising unrealized gains and losses. (d) Portion due after more than one year: € € € € € € (e) Two potential payments of € |
Summary of Maximum Amount of Contingent Consideration Payable and Firm Commitments to Buy Out Non-Controlling Interests | The table below sets forth the maximum amount of contingent consideration payable and firm commitments to buy out non-controlling December 31, 2017 Payments due by period ( € Total Less than 1 year From 1 to 3 years From 3 to 5 years More than 5 years Commitments relating to contingent consideration in connection with business combinations (a) non-controlling (b) 4,293 354 2,630 1,069 240 (a) Includes € € € € € € (b) This line does not include put options granted to non-controlling |
Provisions and other liabilit74
Provisions and other liabilities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Summary of Provisions and Other Non-current Liabilities | Non-current non-current ( € Provisions Provisions Restructuring Other Other non-current (D.19.4.) Total Balance at January 1, 2015 4,873 650 835 3,076 144 9,578 Changes in scope of consolidation - - - 13 - 13 Increases in provisions and other liabilities 290 (a) 108 265 475 (b) 114 1,252 Provisions utilized (366) (a) (73) (16) (130) - (585) Reversals of unutilized provisions (39) (a) (7) (12) (256) (c) (1) (315) Transfers 43 3 (317) (57) - (328) Reclassification of the Animal Health business (e) (76) (34) (3) (34) (2) (149) Net interest related to employee benefits, and unwinding of discount 109 5 5 37 2 158 Unrealized gains and losses - - - - 5 5 Currency translation differences 124 26 5 22 13 190 Actuarial gains and losses on defined-benefit plans (d) (650) - - - - (650) Balance at December 31, 2015 4,308 678 762 3,146 275 9,169 Increases in provisions and other liabilities 220 (a) 130 475 402 (b) - 1,227 Provisions utilized (294) (a) (86) (7) (195) (2) (584) Reversals of unutilized provisions 1 (a) (11) (39) (458) (c) - (507) Transfers (85) (6) (450) (182) (67) (790) Net interest related to employee benefits, and unwinding of discount 108 6 4 29 2 149 Currency translation differences 10 9 (1) 35 8 61 Actuarial gains and losses on defined-benefit plans (d) 109 - - - - 109 Balance at December 31, 2016 4,377 720 744 2,777 216 8,834 Changes in scope of consolidation 86 3 - 13 3 105 Increases in provisions and other liabilities 269 (a) 163 105 680 (b) 866 2,083 Provisions utilized (732) (a) (97) (7) (137) (8) (981) Reversals of unutilized provisions (18) (a) (5) (42) (308) (c) - (373) Transfers 16 1 (282) (58) (7) (330) Net interest related to employee benefits, and unwinding of discount 87 4 3 27 4 125 Unrealized gains and losses - - - 1 5 6 Currency translation differences (156) (39) (7) (114) (29) (345) Actuarial gains and losses on defined-benefit plans (d) 30 - - - - 30 Balance at December 31, 2017 3,959 750 514 2,881 1,050 9,154 (a) In the case of “Provisions for pensions and other post-employment benefits”, the “Increases in provisions and other liabilities” line corresponds to rights vesting in employees during the period, and past service cost; the “Provisions utilized” line corresponds to contributions paid into pension funds, and plan settlements; and the “Reversals of unutilized provisions” line corresponds to plan curtailments. (b) Amounts charged during the period mainly comprise provisions to cover tax exposures in various countries, and changes to estimates of future expenditures on environmental risks. (c) These reversals relate mainly to provisions for tax exposures, reversed either because (i) the statute of limitations deadline was reached during the reporting period or (ii) proceedings with tax authorities in various countries were resolved during the period with a more favorable outcome than initially anticipated. (d) Amounts recognized in Other comprehensive income (see Note D.15.7.). (e) This line comprises the relevant liabilities of the Animal Health business, reclassified as of December 31, 2015 to Liabilities related to assets held for sale or exchange , in accordance with IFRS 5 (see Notes D.1. and D.36.). |
Summary of Financial and Demographic Assumptions | Those calculations were based on the following financial and demographic assumptions: 2017 2016 2015 France Germany USA UK France Germany USA UK France Germany USA UK Discount rate (a)/(b) 0.75% or 1.25% 0.75% or 1.25% 3.50% 2.50% 1.00% or 1.50% 1.00% or 1.50% 4.00% 2.75% 1.50% or 2.25% 1.50% or 2.25% 4.00% 4.00% General inflation rate (c) 1.50% 1.50% 2.00% 3.10% 1.50% 1.50% 2.00% 3.15% 1.75% 1.75% 2.25% 3.15% Pension benefit indexation 1.25% to 2.25% 1.50% - 3.10% 1.25% to 2.25% 1.75% - 3.15% 1.25% to 2.25% 1.75% - 3.15% Healthcare cost inflation rate 2.00% - (d) 5.81% 1.50% 2.00% - (d) 5.96% 1.50% 2.00% - (d) 6.10% 1.50% Retirement age 62 to 67 62 55 to 70 60 62 to 67 62 55 to 70 60 62 to 67 62 55 to 70 60 Mortality table TGH/ TGF 05 Heubeck RT 2005 G RP2014 G. Scale MP2017 SAPS S2 TGH/ TGF 05 Heubeck RT 2005 G RP2014 G. Scale MP2016 SAPS S2 TGH/ TGF 05 Heubeck RT 2005 G RP2014 G. Scale MP2015 SAPS S2 (a) The discount rates used were based on market rates for high quality corporate bonds with a duration close to that of the expected benefit payments under the plans. The benchmarks used to determine discount rates were the same in 2017, 2016 and 2015. (b) The rate depends on the duration of the plan (7 to 10 years and more than 10 years, respectively). (c) Inflation for the euro zone is determined using the average break-even inflation rate of French and German government bonds, by reference to the duration of the principal plans. (d) No post-employment healthcare benefits are provided in Germany. |
Summary of Weighted Average Duration of Obligation for Pensions and Other Long-term Benefits in Principal Countries | The table below shows the duration of Sanofi’s obligations in the principal countries: 2017 2016 2015 (years) France Germany USA UK France Germany USA UK France Germany USA UK Weighted average duration 13 15 14 17 13 14 13 17 13 14 14 17 |
Summary of Sensitivity for Pensions and Other Post-employment Benefits to Changes in Key Actuarial Assumptions | The table below shows the sensitivity of Sanofi’s obligations for pensions and other post-employment benefits to changes in key actuarial assumptions: ( € Pensions and other post-employment benefits, by principal country Measurement of defined-benefit obligation Change in France Germany USA UK Discount rate -0.50% +156 +254 +190 +266 General inflation rate +0.50% +34 +343 +2 +206 Pension benefits indexation +0.50% +88 +332 +2 +147 Healthcare cost inflation rate +0.50% - - +35 - Mortality table +1 year +59 +93 +71 +115 |
Reconciliation of Net Obligation in Respect of Sanofi's Pension and Other Post-Employment Benefit Plans | The table below reconciles the net obligation in respect of Sanofi’s pension and other post-employment benefit plans with the amounts recognized in the consolidated financial statements: Pensions and other ( € 2017 2016 2015 Measurement of the obligation: Beginning of period 13,088 12,825 13,302 Reclassification of the Animal Health business (a) - - (266) Service cost 233 216 262 Interest cost 293 359 362 Actuarial losses/(gains) due to changes in demographic assumptions (74) (71) (37) Actuarial losses/(gains) due to changes in financial assumptions 543 928 (679) Actuarial losses/(gains) due to experience adjustments 61 (18) (13) Plan amendments 33 (2) 18 Plan curtailments 2 (52) (39) Plan settlements specified in the terms of the plan (108) (49) (61) Plan settlements not specified in the terms of the plan (90) (254) (6) Benefits paid (574) (531) (556) Changes in scope of consolidation and transfers 145 71 36 Currency translation differences (540) (334) 502 Obligation at end of period 13,012 13,088 12,825 Fair value of plan assets: Beginning of period 8,741 8,566 8,488 Reclassification of the Animal Health business (a) - - (208) Interest income on plan assets 206 251 254 Difference between actual return and interest income on plan assets 501 730 (79) Administration costs (9) (9) (13) Plan settlements specified in the terms of the plan (109) (49) (61) Plan settlements not specified in the terms of the plan (70) (256) (6) Contributions from plan members 6 3 4 Employer’s contributions 582 168 225 Benefits paid (424) (405) (415) Changes in scope of consolidation and transfers 66 86 - Currency translation differences (384) (344) 377 Fair value of plan assets at end of period 9,106 8,741 8,566 Net amount shown in the balance sheet: Net obligation 3,906 4,347 4,259 Net amount shown in the balance sheet at end of period 3,906 4,347 4,259 Pensions and other post-employment benefits ( € 2017 2016 2015 Amounts recognized in the balance sheet: Pre-funded (53) (30) (49) Obligations provided for 3,959 4,377 4,308 Net amount recognized at end of period 3,906 4,347 4,259 Benefit cost for the period: Service cost 233 216 262 Past service cost 33 (2) 18 Net interest (income)/cost 87 108 108 (Gains)/losses on plan settlements not specified in the terms of the plan (20) 2 - Actuarial (gains)/losses on plan curtailments 2 (52) (39) Contributions from plan members (6) (3) (4) Administration costs and taxes paid during the period 9 9 13 Expense recognized directly in profit or loss 338 278 358 Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses) 30 109 (650) Expense/(gain) for the period 368 387 (292) (a) This line comprises the relevant assets and liabilities of the Animal Health business, reclassified as of December 31, 2015 to Assets held for sale or exchange and Liabilities related to assets held for sale or exchange , respectively, in accordance with IFRS 5 (see Notes D.1. and D.36.). |
Net Liability in Respect of Pension Plans and Other Post-employment Benefits by Geographical Region | The tables below show Sanofi’s net liability in respect of pension plans and other post-employment benefits by geographical region: December 31, 2017 Pensions and other post-employment ( € France Germany USA UK Other Total Measurement of obligation 2,363 3,611 2,699 3,032 1,307 13,012 Fair value of plan assets 991 2,390 1,775 2,926 1,024 9,106 Net amount shown in the balance sheet at end of period 1,372 1,221 924 106 283 3,906 December 31, 2016 Pensions and other post-employment benefits by geographical region ( € France Germany USA UK Other Total Measurement of obligation 2,361 3,535 2,874 3,065 1,253 13,088 Fair value of plan assets 857 2,304 1,760 2,866 954 8,741 Net amount shown in the balance sheet at end of period 1,504 1,231 1,114 199 299 4,347 December 31, 2015 Pensions and other post-employment benefits by geographical region ( € France Germany USA UK Other Total Measurement of obligation 2,270 3,502 2,986 2,948 1,119 12,825 Fair value of plan assets 841 2,216 1,806 2,852 851 8,566 Net amount shown in the balance sheet at end of period 1,429 1,286 1,180 96 268 4,259 |
Fair Value of Plans Assets relating to Pension Plans and Other Post-employment Plans | The table below shows the fair value of plan assets relating to Sanofi’s pension and other post-employment plans, split by asset category: 2017 2016 2015 Securities quoted in an active market 98.0% 98.2% 97.0% Cash and cash equivalents 2.2% 2.4% 2.7% Equity instruments 25.2% 35.2% 35.6% Bonds and similar instruments 64.1% 54.3% 52.8% Real estate 3.3% 3.8% 3.5% Derivatives 0.1% (0.1)% 0.3% Commodities 0.8% 1.3% 1.0% Other 2.3% 1.3% 1.1% Other securities 2.0% 1.8% 3.0% Hedge funds 0.1% - 1.5% Insurance policies 1.9% 1.8% 1.5% Total 100.0% 100.0% 100.0% |
Service Cost for Pension and Other post-employment Benefit Plans, by Geographical Region | The tables below show the service cost for Sanofi’s pension and other post-employment benefit plans, by geographical region: ( € Pensions and other post-employment benefits by geographical region Service cost for 2017 France Germany USA UK Other Total Current service cost 74 50 53 - 56 233 Past service cost - - 36 - (3) 33 Net interest cost/(income) including administration costs and taxes paid during the period 22 16 40 8 10 96 (Gains)/losses on plan settlements not specified in the terms of the plan (17) - - - (3) (20) Actuarial (gains)/losses on plan curtailments (6) 7 8 - (7) 2 Contributions from plan members - - - - (6) (6) Expense recognized directly in profit or loss 73 73 137 8 47 338 Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses) 35 (33) 77 (48) (1) 30 Expense/(gain) for the period 108 40 214 (40) 46 368 ( € Pensions and other post-employment benefits by geographical region Service cost for 2016 France Germany USA UK Other Total Current service cost 70 42 62 - 42 216 Past service cost - - - - (2) (2) Net interest cost/(income) including administration costs and taxes paid during the period 30 23 48 6 10 117 (Gains)/losses on plan settlements not specified in the terms of the plan - - (2) - 4 2 Actuarial (gains)/losses on plan curtailments (51) 2 - - (3) (52) Contributions from plan members - - - - (3) (3) Expense recognized directly in profit or loss 49 67 108 6 48 278 Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses) 70 1 (161) 165 34 109 Expense/(gain) for the period 119 68 (53) 171 82 387 ( € Pensions and other post-employment benefits by geographical region Service cost for 2015 France Germany USA UK Other Total Current service cost 78 47 74 14 49 262 Past service cost 16 1 - - 1 18 Net interest cost/(income) including administration costs and taxes paid during the period 28 23 44 13 13 121 (Gains)/losses on plan settlements not specified in the terms of the plan - - - - - - Actuarial (gains)/losses on plan curtailments (38) - - - (1) (39) Contributions from plan members - - - (1) (3) (4) Expense recognized directly in profit or loss 84 71 118 26 59 358 Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses) (235) (211) (30) (144) (30) (650) Expense/(gain) for the period (151) (140) 88 (118) 29 (292) |
Remeasurement of Net Defined-benefit (Asset)/Liability (Actuarial Gains and Losses) | An analysis of the “Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses)” line in the preceding tables is set forth below: 2017 2016 2015 ( € France Germany USA UK France Germany USA UK France Germany USA UK Actuarial gains/(losses) arising during the period (a) (35) 33 (77) 48 (70) (1) 161 (165) 235 210 30 144 Comprising: Gains/(losses) on experience adjustments (b) 35 159 76 114 58 149 77 442 26 16 (116) 9 Gains/(losses) on demographic assumptions - - 20 53 (6) - 79 - 10 - 46 (21) Gains/(losses) on financial assumptions (70) (126) (173) (119) (122) (150) 5 (607) 199 194 100 156 (a) Gains and losses arising from changes in assumptions are due primarily to changes in the discount rate. (b) Experience adjustments are mainly due to the effect of trends in the financial markets on plan assets. |
Total Expense for Pensions and Other Post-employment Benefits Allocated between Income Statement Line Items | The total expense for pensions and other post-employment benefits is allocated between income statement line items as follows: ( € 2017 2016 2015 Cost of sales 63 60 73 Research and development expenses 48 48 58 Selling and general expenses 95 113 132 Restructuring costs 45 (51) (13) Financial expenses 87 108 108 Total 338 278 358 |
Estimated Amounts of Employer's Contributions to Plan Assets | The estimated amounts of employer’s contributions to plan assets in 2018 are as follows: ( € France Germany USA UK Other Total Employer’s contributions in 2018 (estimate): 2018 5 36 - 45 50 136 |
Expected Timing of Benefit Payments under Pension and Other Post-employment Benefit Plans | The table below shows the expected timing of benefit payments under pension and other post-employment benefit plans for the next ten years: ( € France Germany USA UK Other Total Estimated future benefit payments: 2018 108 202 181 127 58 676 2019 90 208 134 131 54 617 2020 111 213 137 135 58 654 2021 118 217 140 139 59 673 2022 91 223 135 143 60 652 2023 to 2027 661 1,128 690 784 357 3,620 |
Timing of Future Payments in Respect of Unfunded Pension and Other Post-employment Benefit Plans | The table below shows estimates as of December 31, 2017 for the timing of future payments in respect of unfunded pension and other post-employment benefit plans: Payments due by period ( € Total Less than 1 year 1 to 3 years 3 to 5 years More than 5 years Estimated payments 1,097 56 108 116 817 |
Movements in Restructuring Provisions Classified in Non-current and Current Liabilities | The table below shows movements in restructuring provisions classified in non-current ( € 2017 2016 2015 Balance, beginning of period 1,420 1,343 1,399 of which: ∎ non-current 744 762 835 ∎ 676 581 564 Change in provisions recognized in profit or loss for the period 297 667 508 Provisions utilized (616) (641) (570) Transfers 7 38 - Reclassification of the Animal Health business (a) - - (12) Unwinding of discount 3 4 6 Currency translation differences (25) 9 12 Balance, end of period 1,086 1,420 1,343 Including: ∎ non-current 514 744 762 ∎ 572 676 581 (a) This line comprises the restructuring provisions of the Animal Health business, reclassified to Liabilities related to assets held for sale or exchange as of December 31, 2015 (see Notes D.1. and D.36.). |
Timing of Future Termination Benefit Payments | The timing of future termination benefit payments is as follows: December 31, 2017 Benefit payments by period ( € Total Less than 1 1 to 3 years 3 to 5 years More than 5 Employee termination benefits ∎ 588 257 281 49 1 ∎ 274 197 70 5 2 Total 862 454 351 54 3 December 31, 2016 Benefit payments by period ( € Total Less than 1 year 1 to 3 years 3 to 5 years More than 5 years Employee termination benefits ∎ 933 374 413 142 4 ∎ 226 182 35 4 5 Total 1,159 556 448 146 9 December 31, 2015 Benefit payments by period ( € Total Less than 1 year 1 to 3 years 3 to 5 years More than 5 years Employee termination benefits ∎ 772 286 351 120 15 ∎ 258 197 56 2 3 Total 1,030 483 407 122 18 |
Summary of Other Provisions | Other provisions include provisions for risks and litigation relating to environmental, tax, commercial and product liability matters. ( € 2017 2016 2015 Tax exposures 1,031 1,077 1,530 Environmental risks and remediation 686 732 708 Product liability risks, litigation and other 1,164 968 908 Total 2,881 2,777 3,146 |
Current Provisions and Other Current Liabilities | Current provisions and other current liabilities comprise the following: ( € 2017 2016 2015 Taxes payable 1,180 (a) 1,134 1,044 Employee-related liabilities 1,922 1,967 1,920 Restructuring provisions (see Note D.19.2.) 572 676 581 Interest rate derivatives (see Note D.20.) - 2 4 Currency derivatives (see Note D.20.) 58 130 78 Amounts payable for acquisitions of non-current 387 451 684 Other current liabilities 5,087 5,815 5,131 Total 9,206 10,175 9,442 (a) See note D.19.4. |
Derivative financial instrume75
Derivative financial instruments and market risks (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Summary of Fair Value of Derivative Instruments | The table below shows the fair value of derivative instruments as of December 31, 2017, 2016 and 2015: ( € Non-current Current Total Non-current Current Total Fair value at Fair value at Fair value at Currency derivatives - 133 133 (4) (58) (62) 71 (22) (19) operating - 28 28 - (25) (25) 3 (25) 16 financial - 105 105 (4) (33) (37) 68 3 (35) Interest rate derivatives 63 - 63 (12) - (12) 51 100 152 Total 63 133 196 (16) (58) (74) 122 78 133 |
Summary of Operating Currency Hedging Instruments | The table below shows operating currency hedging instruments in place as of December 31, 2017, with the notional amount translated into euros at the relevant closing exchange rate: December 31, 2017 Of which derivatives designated as Of which derivatives not ( € Notional Fair Notional Fair Of which Notional Fair value Forward currency sales 3,592 11 - - - 3,592 11 of which US dollar 1,043 15 - - - 1,043 15 of which Singapore dollar 870 1 - - - 870 1 of which Chinese yuan renminbi 327 (1) - - - 327 (1) of which Japanese yen 248 1 - - - 248 1 of which Saudi riyal 144 2 - - - 144 2 Forward currency purchases 1,649 (8) - - - 1,649 (8) of which Japanese yen 373 (3) - - - 373 (3) of which Singapore dollar 360 (4) - - - 360 (4) of which US dollar 205 (2) - - - 205 (2) of which Chinese yuan renminbi 196 - - - - 196 - of which Hungarian forint 81 1 - - - 81 1 Total 5,241 3 - - - 5,241 3 The above positions mainly hedge future material foreign-currency The table below shows operating currency hedging instruments in place as of December 31, 2016, with the notional amount translated into euros at the relevant closing exchange rate: December 31, 2016 Of which derivatives designated Of which derivatives not ( € Notional Fair Notional Fair Of which Notional Fair value Forward currency sales 3,963 (25) - - - 3,963 (25) of which US dollar 1,850 (17) - - - 1,850 (17) of which Chinese yuan renminbi 453 (2) - - - 453 (2) of which Swiss franc 253 (1) - - - 253 (1) of which Japanese yen 206 5 - - - 206 5 of which Singapore dollar 156 1 - - - 156 1 Forward currency purchases 1,517 - - - - 1,517 - of which US dollar 400 1 - - - 400 1 of which Japanese yen 283 (2) - - - 283 (2) of which Singapore dollar 233 1 - - - 233 1 of which Swiss franc 84 - - - - 84 - of which Hungarian forint 82 - - - - 82 - Total 5,480 (25) - - - 5,480 (25) The table below shows operating currency hedging instruments in place as of December 31, 2015, with the notional amount translated into euros at the relevant closing exchange rate: December 31, 2015 Of which derivatives designated as Of which derivatives not ( € Notional Fair Notional Fair Of which Notional Fair value Forward currency sales 2,142 27 - - - 2,142 27 of which US dollar 672 (2) - - - 672 (2) of which Chinese yuan renminbi 339 1 - - - 339 1 of which Japanese yen 159 (1) - - - 159 (1) of which Russian rouble 130 22 - - - 130 22 of which Singapore dollar 114 - - - - 114 - Forward currency purchases 905 (11) - - - 905 (11) of which US dollar 204 - - - - 204 - of which Russian rouble 109 (9) - - - 109 (9) of which Singapore dollar 104 (1) - - - 104 (1) of which Hungarian forint 90 (1) - - - 90 (1) of which Chinese yuan renminbi 86 2 - - - 86 2 Total 3,047 16 - - - 3,047 16 |
Disclosure of Financial Currency Hedging Instruments in Place with Notional Amount Translated | The table below shows financial currency hedging instruments in place, with the notional amount translated into euros at the relevant closing exchange rate: 2017 2016 2015 ( € Notional Fair Expiry Notional Fair Expiry Notional Fair Expiry Forward currency sales 5,074 86 5,298 (28) 3,472 (44) of which US dollar 3,542 50 2018 3,356 (37) 2017 2,171 (30) 2016 of which Japanese yen 867 34 2018 1,036 - 2017 612 (9) 2016 of which Australian dollar 281 1 2018 254 5 2017 266 (4) 2016 Forward currency purchases 4,657 (18) 5,980 31 2,623 9 of which Singapore dollar 2,281 (23) 2018 878 5 2017 310 - 2016 of which Canadian dollar 907 6 2018 - - 145 (1) 2016 of which Czech koruna 431 6 2018 332 (1) 2017 245 (1) 2016 Total 9,731 68 11,278 3 6,095 (35) |
Disclosure of Instruments | The table below shows instruments of this type in place as of December 31, 2017: Notional amounts by expiry date as of December 31, 2017 Of which designated Of which designated as ( € 2018 2019 2020 2021 2022 2023 Total Fair Notional Fair Notional Fair Of which Interest rate swaps pay capitalized Eonia / receive 1.58% - 1,550 - - - - 1,550 58 1,550 58 - - - pay capitalized Eonia / receive 0.06% - - - - 1,800 - 1,800 (6) 1,800 (6) - - - pay 1.81% / receive 3-month - - 417 - - - 417 2 - - 417 2 - pay 3-month - - 417 - - - 417 3 417 3 - - - pay capitalized Eonia / receive 1.48% (a) - - - - 42 57 99 (6) - - - - - Total - 1,550 834 - 1,842 57 4,283 51 3,767 55 417 2 - (a) These interest rate swaps hedge fixed-rate bonds with a nominal of € The table below shows instruments of this type in place as of December 31, 2016: Notional amounts by expiry date as of December 31, 2016 Of which designated Of which designated as ( € 2017 2019 2020 2021 2022 2023 Total Fair Notional Fair Notional Fair Of which Interest rate swaps pay capitalized Eonia / receive 1.58% - 1,550 - - - - 1,550 88 1,550 88 - - - pay 3-month 428 - - - - - 428 3 428 3 - - - pay 3-month - - 475 - - - 475 10 475 10 - - - pay 1.22% / receive 3-month & 6-month 475 - - - - - 475 (2) - - 475 (2) - pay capitalized Eonia / receive -0.01% - - - - 300 - 300 1 300 1 - - - Total 903 1,550 475 - 300 - 3,228 100 2,753 102 475 (2) - The table below shows instruments of this type in place as of December 31, 2015: Notional amounts by expiry date as of Of which designated Of which designated ( € 2016 2017 2019 2020 2021 2022 Total Fair value Notional amount Fair Notional Fair Of which Interest rate swaps pay 1-month 500 - - - - - 500 14 500 14 - - - pay capitalized Eonia / receive 1.90% 1,000 - 1,550 - - - 2,550 128 2,550 128 - - - pay 3-month - 428 - - - - 428 3 - - - - - pay 3-month - - - 459 - - 459 14 459 14 - - - pay 1.22% / receive 3-month & 6-month - 459 - - - - 459 (2) - - 459 (2) (1) Currency swaps hedging investments pay JPY / receive € 175 - - - - - 175 (4) - - - - - pay USD / receive € 92 - - - - - 92 (1) - - - - Total 1,767 887 1,550 459 - - 4,663 152 3,509 156 459 (2) (1) |
Disclosure of Potential Effects of Netting Arrangements | The table below is prepared in accordance with the accounting policies described in Note B.8.3.: 2017 2016 2015 ( € Derivative Derivative Derivative Derivative Derivative Derivative Gross carrying amounts before offset (a) 196 (74) 210 (132) 218 (85) Gross amounts offset (in accordance with IAS 32) (b) - - - - - - Net amounts as reported in the balance sheet 196 (74) 210 (132) 218 (85) Effects of other netting arrangements (not fulfilling the IAS 32 criteria for offsetting) (d) Financial instruments (67) 67 (97) 97 (66) 66 Fair value of financial collateral N/A N/A N/A N/A N/A N/A Net exposure (c) + (d) 129 (7) 113 (35) 152 (19) |
Off-balance sheet commitments (
Off-balance sheet commitments (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Summary of Off Balance Sheet Commitments Relating to Operating Activities | Off balance sheet commitments relating to Sanofi’s operating activities comprise the following: December 31, 2017 Payments due by period ( € Total Less than 1 year 1 to 3 3 to 5 More than 5 years Operating leases (a) 1,452 294 407 284 467 Irrevocable purchase commitments (b) ∎ (c) 5,500 3,101 1,021 483 895 ∎ (181) (87) (56) (10) (28) Research and development license agreements ∎ (d) 951 577 342 10 22 ∎ (e) 1,907 84 246 941 636 Firm commitments under the agreement with BMS (f) 97 97 - - - Total 9,726 4,066 1,960 1,708 1,992 (a) Operating leases as of December 31, 2017 include € (b) These comprise irrevocable commitments to suppliers of (i) property, plant and equipment, net of down-payments (see Note D.3.) and (ii) goods and services. As of December 31, 2016, irrevocable commitments amounted to € € (c) Irrevocable purchase commitments given as of December 31, 2017 include € (d) Commitments related to R&D, and other commitments, amounted to € (e) This line includes only potential milestone payments on projects regarded as reasonably possible, i.e. on projects in the development phase. Potential milestone payments as of December 31, 2016 amounted to € (f) See Note C.2. |
Summary of Undrawn Credit Facilities | Undrawn credit facilities are as follows: December 31, 2017 Expiry ( € Total Less than 1 to 3 years 3 to 5 years More than General-purpose credit facilities 8,010 7 8,003 - - |
Summary of Amount of Guarantees Given and Received | The table below shows the amount of guarantees given and received: ( € 2017 2016 2015 Guarantees given: 2,986 3,946 3,972 ∎ 1,318 2,189 2,260 ∎ 1,668 1,757 1,712 Guarantees received (181) (211) (187) |
Provisions for discounts, reb77
Provisions for discounts, rebates and sales returns (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Summary of Movement in Provisions for Discounts, Rebates and Sales Returns | The table below shows movements in these items: ( € Government and State programs (a) Government and GPO programs (b) Chargeback Rebates and discounts Sales Other Total Balance at January 1, 2015 1,439 312 221 876 393 6 3,247 Provision related to current period sales 4,912 1,954 4,131 5,913 585 31 17,526 Net change in provision related to prior period sales (35) - (20) (45) 35 - (65) Payments made (4,295) (1,636) (4,001) (5,672) (541) (31) (16,176) Currency translation differences 152 42 18 11 29 - 252 Reclassification of the Animal Health business (c) - - - (139) (21) (1) (161) Balance at December 31, 2015 (d) 2,173 672 349 944 480 5 4,623 Provision related to current period sales 5,240 1,869 4,132 5,394 547 14 17,196 Net change in provision related to prior period sales (6) - (8) (20) 18 (1) (17) Payments made (5,078) (1,796) (4,204) (5,230) (509) (15) (16,832) Currency translation differences 69 26 11 23 14 - 143 Balance at December 31, 2016 (d) 2,398 771 280 1,111 550 3 5,113 Provision related to current period sales 5,131 2,027 4,069 5,897 537 29 17,690 Net change in provision related to prior period sales (46) (11) (8) 30 (11) - (46) Payments made (5,129) (2,031) (3,925) (5,897) (466) (26) (17,474) Currency translation differences (268) (93) (39) (74) (63) - (537) Balance at December 31, 2017 (d) 2,086 663 377 1,067 547 6 4,746 (a) Primarily the US government’s Medicare and Medicaid programs. (b) Mainly rebates and other price reductions granted to healthcare authorities in the United States. (c) This line comprises the provisions for discounts, rebates and sales returns of the Animal Health business, reclassified to Liabilities related to assets held for sale or exchange as of December 31 2015 in accordance with IFRS 5 (see Notes D.1. and D.36.). (d) Provisions related to US net sales amount to € € € |
Personnel costs (Tables)
Personnel costs (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Summary of Personal Costs | Total personnel costs include the following items: ( € 2017 2016 2015 Salaries 6,592 6,424 6,473 Social security charges (including defined-contribution pension plans) 1,977 1,948 1,951 Stock options and other share-based payment expense 258 250 206 Defined-benefit pension plans 275 273 280 Other employee benefits 219 224 224 Total (a) 9,321 9,119 9,134 (a) Excludes personnel costs for the Animal Health business: immaterial in 2017, € |
Summary of Employee Numbers by Function | Employee numbers by function as of December 31 are shown below: 2017 2016 2015 Production 40,417 41,867 42,754 Research and development 14,764 15,148 15,384 Sales force 30,284 30,815 32,771 Marketing and support functions 21,101 19,029 18,180 Total (a) 106,566 106,859 109,089 (a) Excluding employees of the Animal Health business: 4 employees in 2017, 6,957 in 2016 and 6,542 in 2015. |
Restructuring costs and simil79
Restructuring costs and similar items (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Summary of Restructuring Costs and Similar Items | Restructuring costs and similar items € € € ( € 2017 (a) 2016 (a) 2015 (a) Employee-related expenses 336 650 307 Expenses related to property, plant and equipment and to inventories 221 139 132 Compensation for early termination of contracts (other than contracts of employment) 61 31 7 Decontamination costs (4) 3 1 Other restructuring costs 117 56 348 Total 731 879 795 (a) The results of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current |
Financial expenses and income (
Financial expenses and income (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Summary of Analysis of Financial Income and Expenses | An analysis of financial expenses and income is set forth below: ( € 2017 (a) 2016 (a) 2015 (a) Cost of debt (b) (277) (274) (331) Interest income 56 56 57 Cost of debt, net of cash and cash equivalents (221) (218) (274) Non-operating (21) (21) - Unwinding of discounting of provisions (c) (33) (33) (44) Net interest cost related to employee benefits (92) (114) (114) Gains/(losses) on disposals of financial assets 96 36 46 Impairment losses on financial assets, net of reversals (7) (487) (d) (50) Other 5 (19) 55 Net financial income/(expenses) (273) (856) (381) comprising: Financial expenses (420) (924) (559) Financial income 147 68 178 (a) The results of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current (b) Includes net gain on interest rate derivatives used to hedge debt: € € € (c) Primarily on provisions for environmental risks, restructuring provisions, and provisions for product-related risks (see Note D.19.). (d) On October 5, 2016, Alnylam Pharmaceuticals, Inc. announced that it was terminating its revusiran development program, as a result of which its share price fell by 48% on October 6, 2016. Consequently, Sanofi recognized an impairment loss reflecting the difference between the historical acquisition cost of its shares in Alnylam and their market value. That impairment loss, which amounted to € |
Income tax expense (Tables)
Income tax expense (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Summary of Allocation of Income Tax Expense Between Current and Deferred Taxes | The table below shows the allocation of income tax expense between current and deferred taxes: ( € 2017 (a) 2016 (a) 2015 (a) Current taxes (2,631) (1,869) (1,978) Deferred taxes 909 543 1,269 Total (1,722) (1,326) (709) Income before tax and investments accounted for using the equity method 5,530 5,678 5,243 (a) The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current |
Summary of Difference Between Effective Tax Rate and Standard Corporate Income Tax Rate | The difference between the effective tax rate and the standard corporate income tax rate applicable in France is explained as follows: (as a percentage) 2017 (a) 2016 (a) 2015 (a) Standard tax rate applicable in France 34.4 34.4 34.4 Difference between the standard French tax rate and the rates applicable to Sanofi (b) (19.2) (10.1) (17.7) Tax rate differential on intragroup margin in inventory (c) (0.0) (0.6) 1.7 Tax effects of the share of profits reverting to BMS (see Note D.32.) (0.5) (0.5) (0.6) Contribution on distributed income (3%) and associated changes (d) (8.2) 2.0 2.1 CVAE tax in France (e) 1.3 1.1 1.3 Revisions to tax exposures and settlements of tax disputes 2.2 (4.8) 0.3 Fair value remeasurement of contingent consideration 1.1 0.4 (1.1) Impact of US tax reform (f) 21.6 - - Other items (g) (1.6) 1.5 (6.9) Effective tax rate 31.1 23.4 13.5 (a) The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current (b) The difference between the French tax rate and tax rates applicable to foreign subsidiaries reflects the fact that Sanofi has operations in many countries, most of which have lower tax rates than France. (c) When internal margin included in inventory is eliminated, a deferred tax asset is recognized on the basis of the tax rate applicable to the subsidiary that holds the inventory, which may differ from the tax rate of the subsidiary that generated the eliminated intragroup margin. (d) In 2017, this line includes the consequences of the French Constitutional Council ruling of October 6, 2017 on the additional 3% contribution on dividends paid out in cash. In 2016 and 2015, entities liable to corporate income tax in France were liable to pay an additional tax contribution in respect of amounts distributed by the entity. (e) Net impact on the effective tax rate (current taxes, impact of the tax deduction, and deferred taxes). (f) For 2017, this line includes an expense of € € € (g) For 2017, the “Other items” line includes the impact of changes to tax rates in France, Belgium and the Netherlands. For 2016, it includes the effects of changes in tax rates in various countries, particularly in France, Hungary, Italy, Japan and the United States. For 2015, it includes the impact ( € |
Related party transactions (Tab
Related party transactions (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Schedule of Compensation Paid to Key Management Personnel | The table below shows, by type, the compensation paid to key management personnel: ( € 2017 2016 2015 Short-term benefits (a) 31 32 32 Post-employment benefits (b) 8 9 20 Share-based payment 15 22 14 Total recognized in profit or loss 54 63 66 (a) Compensation, employer’s social security contributions, directors’ attendance fees, and any termination benefits (net of reversals of termination benefit obligations). (b) In 2015, includes the expense arising from the award of a deemed ten years of service to Olivier Brandicourt. |
Segment information (Tables)
Segment information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Schedule of Segment Results | The table below sets forth our segment results for the year ended December 31, 2017 new segment reporting model 2017 ( € Pharmaceuticals Consumer Vaccines Other Total Sanofi Net sales 25,122 4,832 5,101 - 35,055 Other revenues 287 - 862 - 1,149 Cost of sales (6,728) (1,648) (2,798) (271) (11,445) Research and development expenses (4,056) (123) (557) (736) (5,472) Selling and general expenses (5,750) (1,605) (698) (2,005) (10,058) Other operating income and expenses 34 94 (107) (17) 4 Share of profit/(loss) from investments accounted for using the equity method 233 1 1 - 235 Net income attributable to non-controlling (117) (8) - - (125) Business operating income 9,025 1,543 1,804 (3,029) 9,343 Due to lack of available data and the too complex and significant adjustments that would be required (in particular to our reporting tools), the comparative information has not been restated to reflect the changes arising from our new segment reporting model. We have therefore also presented segment results for 2017 and comparative periods using our previous segment reporting model 2017 ( € Pharmaceuticals (a) Vaccines (b) Other Total Sanofi Net sales 29,954 5,101 - 35,055 Other revenues 287 862 - 1,149 Cost of sales (8,628) (2,817) - (11,445) Research and development expenses (4,835) (637) - (5,472) Selling and general expenses (9,176) (881) (1) (10,058) Other operating income and expenses 180 (108) (68) 4 Share of profit/(loss) from investments accounted for using the equity method 234 1 - 235 Net income attributable to non-controlling (125) - - (125) Business operating income 7,891 1,521 (69) 9,343 (a) Includes Consumer Healthcare and an allocation of global support function costs. (b) Includes an allocation of global support function costs. The table below sets forth our segment results for the year ended December 31, 2016 previous segment reporting model December 31, 2016 ( € Pharmaceuticals (a) Vaccines (b) Other Total Sanofi Net sales 29,244 4,577 - 33,821 Other revenues 274 613 - 887 Cost of sales (8,349) (2,353) - (10,702) Research and development expenses (4,618) (554) - (5,172) Selling and general expenses (8,743) (743) - (9,486) Other operating income and expenses (1) (14) (112) (127) Share of profit/(loss) from investments accounted for using the equity method 129 48 - 177 Net income attributable to non-controlling (112) (1) - (113) Business operating income 7,824 1,573 (112) 9,285 (a) Includes Consumer Healthcare and an allocation of global support function costs. Consumer Healthcare net sales were € (b) Includes an allocation of global support function costs. The table below sets forth our segment results for the year ended December 31, 2015 previous segment reporting model December 31, 2015 ( € Pharmaceuticals (a) Vaccines (b)/(c) Other Total Sanofi Net sales 29,799 4,261 - 34,060 Other revenues 288 513 - 801 Cost of sales (8,788) (2,131) - (10,919) Research and development expenses (4,530) (552) - (5,082) Selling and general expenses (8,656) (726) - (9,382) Other operating income and expenses (121) 27 (114) (208) Share of profit/(loss) from investments accounted for using the equity method 146 23 - 169 Net income attributable to non-controlling (125) (1) - (126) Business operating income 8,013 1,414 (114) 9,313 (a) Includes Consumer Healthcare and an allocation of global support function costs. Consumer Healthcare net sales were € (b) Includes an allocation of global support function costs. (c) Due to a change in accounting presentation, VaxServe sales of non-Sanofi Other revenues from 2016 onwards. The presentation of prior period Net sales and Other revenues has been amended accordingly (see Note B.13.). |
Schedule of Reconciliation Between Business Operating Income for the Segments and Income Before Tax and Investments Accounted for Using the Equity Method | The table below, presented in compliance with IFRS 8, shows a reconciliation between aggregated “Business operating income” for the segments and Income before tax and investments accounted for using the equity method. ( € 2017 2016 2015 Business operating income 9,343 9,285 9,313 Share of profit/(loss) from investments accounted for using the equity method (a) (235) (177) (169) Net income attributable to non-controlling (b) 125 113 126 Amortization and impairment of intangible assets (2,159) (1,884) (2,904) Fair value remeasurement of contingent consideration (159) (135) 53 Expenses arising from the impact of acquisitions on inventories (c) (166) - - Restructuring costs and similar items (731) (879) (795) Other gains and losses, and litigation (d) (215) 211 - Operating income 5,803 6,534 5,624 Financial expenses (e) (420) (924) (559) Financial income 147 68 178 Income before tax and investments accounted for using the equity method 5,530 5,678 5,243 (a) Excluding restructuring costs relating to investments accounted for using the equity method and expenses arising from the impact of acquisitions on investments accounted for using the equity method, and after elimination of Sanofi’s share of the business net income of Sanofi Pasteur MSD from the date when Sanofi and Merck announced their intention to end their joint venture ( € (b) Excluding (i) restructuring costs and (ii) other adjustments attributable to non-controlling (c) This line records the impact of the workdown of acquired inventories remeasured at fair value at the acquisition date. (d) For 2017, this line includes an adjustment to a provision for vendor’s liability guarantees relating to past divestments. For 2016, it includes the pre-tax (e) For 2016, this line includes an impairment loss of € |
Schedule of Acquisition of Intangible Assets, Property, Plant and Equipment and Investments Accounted for Using the Equity Method by Segment | Acquisitions of intangible assets and property, plant and equipment correspond to acquisitions paid for during the period. 2017 ( € Pharmaceuticals Consumer Vaccines Total Sanofi Investments accounted for using the equity method 2,831 19 13 2,863 Acquisitions of property, plant and equipment 1,033 9 346 1,388 Acquisitions of other intangible assets 367 9 192 568 2017 ( € Pharmaceuticals Vaccines Total Sanofi Investments accounted for using the equity method 2,850 13 2,863 Acquisitions of property, plant and equipment 1,042 346 1,388 Acquisitions of other intangible assets 376 192 568 2016 ( € Pharmaceuticals Vaccines Total Sanofi Investments accounted for using the equity method 2,886 4 2,890 Acquisitions of property, plant and equipment 904 315 1,219 Acquisitions of other intangible assets 807 57 864 2015 ( € Pharmaceuticals Vaccines Total Sanofi Investments accounted for using the equity method 2,422 254 2,676 Acquisitions of property, plant and equipment 945 258 1,203 Acquisitions of other intangible assets 1,533 36 1,569 |
Summary of Geographical Information on Net Sales and Non-Current Assets | In accordance with IFRS 8, the non-current pre-funded 2017 ( € Total Sanofi Europe of which North of which Other Net sales 35,055 9,525 2,330 12,460 11,855 13,070 Non-current ∎ 9,579 5,969 3,180 2,560 2,142 1,050 ∎ 40,264 ∎ 13,080 6,171 5,210 1,699 2016 ( € Total Sanofi Europe of which North of which Other Net sales 33,821 8,679 2,206 12,963 12,391 12,179 Non-current ∎ 10,019 6,068 3,413 2,850 2,447 1,101 ∎ 40,287 ∎ 10,879 3,612 5,430 1,837 2015 ( € Total Sanofi Europe of which North of which Other Net sales (a) 34,060 9,861 2,248 12,369 11,764 11,830 Non-current ∎ 9,943 5,956 3,480 2,879 2,498 1,108 ∎ 39,557 ∎ 12,026 3,719 5,980 2,327 (a) Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues . The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.). |
Exchanged_held-for-exchange A84
Exchanged/held-for-exchange Animal Health business (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Summary of Assets and Liabilities Held for Sale or Exchange | In accordance with IFRS 5 (see Note B.7. and D.1.), all assets of the Animal Health business and all liabilities directly related to those assets were classified as of December 31, 2016 and 2015 in the line items Assets held for sale or exchange Liabilities related to assets held for sale or exchange ( € 2016 2015 Assets Property, plant and equipment 811 657 Goodwill 1,560 1,510 Other intangible assets 2,227 2,147 Investments accounted for using the equity method 12 6 Other non-current 41 46 Deferred tax assets 180 177 Inventories 629 526 Accounts receivable 471 479 Other current assets 83 55 Cash and cash equivalents 362 23 Total assets held for sale or exchange 6,376 5,626 Liabilities Long-term debt 6 4 Non-current 134 149 Deferred tax liabilities 198 163 Short-term debt 148 18 Accounts payable 241 218 Other current liabilities 438 431 Total liabilities related to assets held for sale or exchange 1,165 983 |
Summary of Net Income/(Loss) of Held-for-Exchange Animal Health Business | In accordance with IFRS 5, the net income/loss of the Animal Health business is presented in a separate line item for 2017 and comparative periods (see Notes B.7. and D.1.). The table below provides an analysis of the main items included in the line item Net income/(loss) of the exchanged/held-for-exchange ( € 2017 2016 2015 Net sales - 2,708 2,515 Gross profit - 1,850 1,671 Operating income - 678 101 Income before tax and investments accounted for using the equity method (a) 6,343 672 92 Income tax expense (b) (1,700) (359) (216) Net income/(loss) of the exchanged/held-for-exchange 4,643 314 (124) (a) In 2017, this line shows the gain arising on the divestment of the Animal Health business in exchange for Boehringer Ingelheim’s Consumer Healthcare business, based on a total consideration of € (b) Income tax expense on the gain on divestment of the Animal Health business. |
Summary of Basic and Diluted Earnings Per Share for Held-for-Exchange Animal Health Business | The table below presents basic and diluted earnings per share for the exchanged/held-for-exchange ( € 2017 2016 2015 Net income/(loss) of the exchanged/held-for-exchange 4,643 314 (124) Average number of shares outstanding (million) 1,256.9 1,286.6 1,306.2 Average number of shares after dilution (million) 1,266.8 1,296.0 1,320.7 – Basic earnings per share (in euros) 3.69 0.24 (0.10) – Diluted earnings per share (in euros) 3.67 0.24 (0.09) |
Principal accountants' fees a85
Principal accountants' fees and services (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Disclosure Of accountants' fees and services | The table below shows fees charged by those firms and member firms of their networks to Sanofi and consolidated subsidiaries in the years ended December 31, 2017 and 2016. Ernst & Young PricewaterhouseCoopers 2017 2016 2017 2016 ( € Amount % Amount % Amount % Amount % Audit: Statutory audit of separate and consolidated financial statements (a) 16.4 73% 16.7 92% 16.8 98% 16.8 97% Services other than statutory audit (b) 6.0 27% 1.4 8% 0.4 2% 0.6 3% Audit-related services (c) 4.9 0.6 0.4 0.4 Tax - - - - Other services 1.1 0.8 - 0.2 Total 22.4 100% 18.1 100% 17.2 100% 17.4 100% (a) Includes services provided by the independent auditors of the parent company and French subsidiaries: Ernst & Young: € € € € (b) Services other than statutory audit provided by Ernst & Young et Autres during 2017 comprised: - work on share capital transactions and securities issues submitted to the Annual General Meeting (in extraordinary business) for approval; - additional procedures to enable reports previously signed by the firm to be incorporated by reference; and - agreed-upon and audit procedures in connection with a divestment. Services other than statutory audit provided by PricewaterhouseCoopers Audit during 2017 comprised: - work on share capital transactions and securities issues submitted to the Annual General Meeting (in extraordinary business) for approval; - issuance of attestations; - additional procedures to enable reports previously signed by the firm to be incorporated by reference; - audit procedures in connection with an acquisition; and - benchmarking. (c) Includes services provided by the independent auditors of the parent company and French subsidiaries: Ernst & Young: € € € € |
F_ List of principal companie86
F/ List of principal companies included in the consolidation during 2017 (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Text Block1 [Abstract] | |
Summary of Principal Companies and Their Country of Incorporation | The table below shows the principal companies and their country of incorporation: Europe Financial interest (%) as of December 31, 2017 Hoechst GmbH Germany 100.0 Zentiva Pharma GmbH Germany 100.0 Zentiva Inhalationsprodukte GmbH Germany 100.0 Sanofi-Aventis Germany 100.0 Aventis Beteiligungsverwaltung GmbH Germany 100.0 Genzyme GmbH Germany 100.0 Sanofi-Aventis GmbH Austria 100.0 Sanofi Belgium Belgium 100.0 Sanofi European Treasury Center Belgium 100.0 Genzyme Flanders BVBA Belgium 100.0 Sanofi-Aventis Denmark A/S Denmark 100.0 Sanofi-Aventis SA Spain 100.0 Sanofi Oy Finland 100.0 Sanofi France 100.0 Sanofi-Aventis France France 100.0 Sanofi Winthrop Industries France 100.0 Sanofi-Aventis Recherche et Développement France 100.0 Sanofi-Aventis Groupe France 100.0 Sanofi CLIR France 50.1 Sanofi Chimie France 100.0 Francopia France 100.0 Sanofi-Aventis France 100.0 Sanofi-Aventis Participations SAS France 100.0 Genzyme SAS France 100.0 Genzyme Polyclonals SAS France 100.0 Sanofi Pasteur (France) SA France 100.0 Aventis Pharma SA (France) France 100.0 Sanofi-Aventis Am Nord SAS France 100.0 Zentiva France France 100.0 Aventis Agriculture France 100.0 Biopark By Sanofi France 100.0 Chattem Greece S.A. Greece 100.0 Sanofi-Aventis A.E.B.E Greece 100.0 Sanofi-Aventis Private Co, Ltd Hungary 99.6 Chinoin Private Co. Ltd Hungary 99.6 Carraig Insurance DAC Ireland 100.0 Sanofi-Aventis Ireland Ltd Ireland 100.0 Europe Financial interest (%) as of December 31, 2017 Genzyme Ireland Limited Ireland 100.0 Sanofi Spa Italy 100.0 Genzyme Global Sarl Luxembourg 100.0 Sanofi-Aventis Norge AS Norway 100.0 Sanofi-Aventis Netherlands B.V. Netherlands 100.0 Genzyme Europe BV Netherlands 100.0 Sanofi-Aventis Sp. z.o.o. Poland 100.0 Winthrop Farmaceutica Portugal Lda Portugal 100.0 Sanofi Produtos Farmaceuticos Lda Portugal 100.0 Zentiva, k.s. Czech Republic 100.0 Zentiva Group, a.s. Czech Republic 100.0 Sanofi-Aventis, s.r.o. Czech Republic 100.0 Sanofi-Aventis Romania SRL Romania 100.0 Sanofi-Synthelabo Ltd United Kingdom 100.0 Sanofi Pasteur Holding Limited United Kingdom 100.0 Chattem Limited (UK) United Kingdom 100.0 Sanofi-Aventis UK Holdings Limited United Kingdom 100.0 Genzyme Limited United Kingdom 100.0 May and Baker Limited United Kingdom 100.0 Aventis Pharma Limited United Kingdom 100.0 Fisons Limited United Kingdom 100.0 Limited Liability Zentiva Pharma Russia 100.0 Sanofi-Aventis Vostok Russia 100.0 AO Sanofi Russia Russia 100.0 Zentiva a.s. Slovakia 98.9 Sanofi-Aventis Pharma Slovakia s.r.o. Slovakia 100.0 Sanofi AB Sweden 100.0 Sanofi SA (Sanofi AG) Switzerland 100.0 Sanofi-Aventis (Suisse) SA Switzerland 100.0 Pharmaton Switzerland 100.0 Zentiva Saglik Urunleri Sanayi ve Ticaret A.S. Turkey 100.0 Sanofi-Aventis Ilaclari Limited Sirketi Turkey 100.0 Sanofi Pasteur Asi Ticaret A.S. Turkey 100.0 Sanofi-Aventis Ukraine Ukraine 100.0 United States Financial interest (%) as of December 31, 2017 Sanofi US Services Inc United States 100.0 Sanofi-Aventis United States 100.0 Sanofi Pasteur Biologics, LLC United States 100.0 Chattem, Inc. United States 100.0 United States Financial interest (%) as of December 31, 2017 Sanofi Pasteur VaxDesign Corporation United States 100.0 Carderm Capital L.P. United States 100.0 Aventisub LLC United States 100.0 Genzyme Corporation United States 100.0 Armour Pharmaceutical Company United States 100.0 Sanofi Pasteur Inc. United States 100.0 Protein Sciences Corporation United States 100.0 Aventis Inc. United States 100.0 VaxServe, Inc. United States 100.0 Other Countries Financial interest (%) as Sanofi-Aventis South Africa (Pty) Ltd South Africa 100.0 Zentiva South Africa (Pty) Ltd South Africa 100.0 Sanofi-Aventis Algérie Algeria 100.0 Winthrop Pharma Saidal SPA Algeria 70.0 Sanofi-Aventis Argentina S.A. Argentina 100.0 Genzyme de Argentina SA Argentina 100.0 Sanofi-Aventis Healthcare Pty Ltd Australia 100.0 Sanofi-Aventis Australia Pty Ltd Australia 100.0 Medley Farmaceutica Ltda Brazil 100.0 Sanofi-Aventis Farmaceutica Ltda Brazil 100.0 Sanofi-Aventis Canada Inc. Canada 100.0 Sanofi Consumer Health Inc Canada 100.0 Sanofi Pasteur Limited (Canada) Canada 100.0 Sanofi-Aventis de Chile SA Chile 100.0 Sanofi (Hangzhou) Pharmaceuticals Co., Ltd China 100.0 Sanofi (China) Investment Co., Ltd China 100.0 Sanofi Beijing Pharmaceuticals Co.Ltd China 100.0 Shenzhen Sanofi pasteur Biological Products Co, Ltd China 100.0 Winthrop Pharmaceuticals de Colombia SA Colombia 100.0 Genfar S.A. Colombia 100.0 Sanofi-Aventis de Colombia S.A. Colombia 100.0 Sanofi-Aventis Korea Co. Ltd South Korea 100.0 Genzyme Korea Co Ltd South Korea 100.0 Sanofi-Aventis Gulf FZE United Arab Emirates 100.0 Sanofi-Aventis del Ecuador S.A. Ecuador 100.0 Sanofi Egypt S.A.E Egypt 99.8 Sanofi-Aventis de Guatemala S.A. Guatemala 100.0 Sunstone China Limited Hong Kong 100.0 Sanofi-Aventis Hong-Kong Limited Hong Kong 100.0 Sanofi-Synthelabo (India) Private Ltd India 100.0 Sanofi India Limited India 60.4 Other Countries Financial interest (%) as Shantha Biotechnics Private Ltd India 98.7 PT Aventis Pharma Indonesia 80.0 Sanofi-Aventis Israël Ltd Israel 100.0 Sanofi K.K. Japan 100.0 SSP Co., Ltd Japan 100.0 Winthrop Pharmaceuticals (Malaysia) SDN. BHD. Malaysia 100.0 Sanofi-Aventis (Malaysia) SDN. BHD. Malaysia 100.0 Sanofi-Aventis Maroc Morocco 100.0 Sanofi-Aventis de Mexico S.A de CV Mexico 100.0 Sanofi-Aventis Winthrop SA de CV Mexico 100.0 Sanofi Pasteur SA de CV Mexico 100.0 Sanofi-Aventis Pakistan Ltd Pakistan 52.9 Sanofi-Aventis de Panama S.A. Panama 100.0 Sanofi-Aventis Latin America SA Panama 100.0 Sanofi-Aventis del Peru SA Peru 100.0 Genfar Peru S.A. Peru 100.0 Sanofi-Aventis Philippines Inc Philippines 100.0 Sanofi-Aventis de la Republica Dominicana S.A. Dominican Republic 100.0 Sanofi-Aventis Singapore Pte Ltd Singapore 100.0 Aventis Pharma (Manufacturing) PTE LTD Singapore 100.0 Sanofi Taiwan Co Ltd Taiwan 100.0 Zentiva (Thailand) limited Thailand 100.0 Sanofi-Aventis Thailand Ltd Thailand 100.0 Sanofi-Aventis Pharma Tunisie Tunisia 100.0 Winthrop Pharma Tunisie Tunisia 100.0 Sanofi-Aventis de Venezuela SA Venezuela 100.0 Sanofi-Synthelabo Vietnam Vietnam 70.0 Sanofi Vietnam Shareholding Company Vietnam 100.0 |
Summary of Principal Investments Accounted for Using the Equity Method | F.2. Principal investments accounted for using the equity method Financial interest (%) Infraserv GmbH & Co. Höchst KG Germany 31.2 Bristol-Myers Squibb / Sanofi Canada Partnership Canada 49.9 China Resources Sanjiu Sanofi Consumer Healthcare Ltd China 30.0 Bristol-Myers Squibb / Sanofi Pharmaceuticals Holding Partnership United States 49.9 Bristol-Myers Squibb / Sanofi Pharmaceuticals Partnership United States 49.9 Bristol-Myers Squibb / Sanofi Pharmaceuticals Partnership Puerto Rico United States 49.9 Bristol-Myers Squibb / Sanofi-Synthélabo Partnership United States 49.9 Bristol-Myers Squibb / Sanofi-Synthélabo Puerto Rico Partnership United States 49.9 Regeneron Pharmaceuticals, Inc. United States 22.2 Onduo LLC United States 50.0 Maphar Morocco 48.3 Bio Atrium AG Switzerland 50.0 |
Consolidation and Foreign Cur87
Consolidation and Foreign Currency Translation of Financial Statements of Venezuelan Subsidiaries - Additional Information (Detail) € in Millions | 12 Months Ended | |||||
Dec. 31, 2017EUR (€) | Dec. 31, 2016EUR (€) | Dec. 31, 2015EUR (€) | Feb. 29, 2016 | |||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Gain Loss [Line Items] | ||||||
VEF fixed exchange rate versus USD | 6.3 | |||||
VEF administered exchange rate versus USD | 13.5 | |||||
VEF floating exchange rate versus USD | 200 | |||||
Net sales | [1] | € 35,055 | € 33,821 | € 34,060 | [2] | |
Venezuelan Subsidiary [Member] | ||||||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Gain Loss [Line Items] | ||||||
Net foreign exchange loss | 102 | |||||
Net sales | 18 | 455 | ||||
Cash position | € 7 | € 6 | € 90 | |||
Venezuelan Subsidiaries [Member] | DIPRO Rate [Member] | ||||||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Gain Loss [Line Items] | ||||||
Venezuelan foreign exchange rate per US dollar | 10 | |||||
Venezuelan Subsidiaries [Member] | DICOM Rate [Member] | ||||||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Gain Loss [Line Items] | ||||||
Venezuelan foreign exchange rate per US dollar | 3,345 | 206 | ||||
[1] | The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36. | |||||
[2] | Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.). |
Change in the Operational Str88
Change in the Operational Structure of Sanofi - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2017Cash_Generating_Units | |
Disclosure Of Effect Of Changes In Foreign Exchange Rates Gain Loss [Abstract] | |
Number of cash generating units | 3 |
Summary of Significant Accoun89
Summary of Significant Accounting Policies - Other Intangible Assets not Acquired in Business Combination - Additional Information (Detail) - Software [Member] | 12 Months Ended |
Dec. 31, 2017 | |
Bottom of range [Member] | |
Disclosure of detailed information about intangible assets [Line Items] | |
Intangible asset, useful lives | 3 years |
Top of range [Member] | |
Disclosure of detailed information about intangible assets [Line Items] | |
Intangible asset, useful lives | 5 years |
Summary of Significant Accoun90
Summary of Significant Accounting Policies - Summary of Useful Lives of Property Plant and Equipment (Detail) | 12 Months Ended |
Dec. 31, 2017 | |
Buildings [Member] | |
Disclosure of detailed information about property, plant and equipment [Line Items] | |
Useful lives or depreciation rates, property, plant and equipment | 15 to 40 years |
Fixtures and Fittings [Member] | |
Disclosure of detailed information about property, plant and equipment [Line Items] | |
Useful lives or depreciation rates, property, plant and equipment | 10 to 20 years |
Machinery and Equipment [Member] | |
Disclosure of detailed information about property, plant and equipment [Line Items] | |
Useful lives or depreciation rates, property, plant and equipment | 5 to 15 years |
Other Property, Plant and Equipment [Member] | |
Disclosure of detailed information about property, plant and equipment [Line Items] | |
Useful lives or depreciation rates, property, plant and equipment | 3 to 15 years |
Summary of Significant Accoun91
Summary of Significant Accounting Policies - Summary of Measurement Principles Applied to Financial Instruments (Detail) - Market Data [Member] | 12 Months Ended |
Dec. 31, 2017 | |
Available-for-Sale Financial Assets (Quoted Equity Securities) [Member] | Fair value [Member] | |
Disclosure of significant unobservable inputs used in fair value measurement of assets [Line Items] | |
Valuation model | Quoted market price |
Exchange rate | N/A |
Interest rate | N/A |
Available-for-Sale Financial Assets (Quoted Debt Securities) [Member] | Fair value [Member] | |
Disclosure of significant unobservable inputs used in fair value measurement of assets [Line Items] | |
Valuation model | Quoted market price |
Exchange rate | N/A |
Interest rate | N/A |
Available-for-Sale Financial Assets (Contingent Consideration Receivable) [Member] | Fair value [Member] | |
Disclosure of significant unobservable inputs used in fair value measurement of assets [Line Items] | |
Valuation model | Under IAS 39, contingent consideration receivable on a divestment is a financial asset. The fair value of such assets is determined by adjusting the contingent consideration at the end of the reporting period using the method described in Note D.7. |
Long-term Loans and Advances and Other Non-current Receivables [Member] | Amortized Cost [Member] | |
Disclosure of significant unobservable inputs used in fair value measurement of assets [Line Items] | |
Valuation model | The amortized cost of long-term loans and advances and other non-current receivables at the end of the reporting period is not materially different from their fair value. |
Financial Assets Recognized Under the Fair Value Option [Member] | Fair value [Member] | |
Disclosure of significant unobservable inputs used in fair value measurement of assets [Line Items] | |
Valuation model | Market value (net asset value) |
Exchange rate | N/A |
Interest rate | N/A |
Forward Currency Contracts [Member] | Fair value [Member] | |
Disclosure of significant unobservable inputs used in fair value measurement of assets [Line Items] | |
Valuation model | Present value of future cash flows |
Exchange rate | Mid Market Spot |
Interest rate | < 1 year: Mid Money Market > 1 year: Mid Zero Coupon |
Interest Rate Swaps [Member] | Fair value [Member] | |
Disclosure of significant unobservable inputs used in fair value measurement of assets [Line Items] | |
Valuation model | Present value of future cash flows |
Exchange rate | Mid Market Spot |
Interest rate | < 1 year: Mid Money Market > 1 year: Mid Zero Coupon |
Cross-Currency Swaps [Member] | Fair value [Member] | |
Disclosure of significant unobservable inputs used in fair value measurement of assets [Line Items] | |
Valuation model | Present value of future cash flows |
Exchange rate | Mid Market Spot |
Interest rate | < 1 year: Mid Money Market > 1 year: Mid Zero Coupon |
Investments in Mutual Funds [Member] | Fair value [Member] | |
Disclosure of significant unobservable inputs used in fair value measurement of assets [Line Items] | |
Valuation model | Market value (net asset value) |
Exchange rate | N/A |
Interest rate | N/A |
Negotiable Debt Instruments, Commercial Paper, Instant Access Deposits and Term Deposits [Member] | Amortized Cost [Member] | |
Disclosure of significant unobservable inputs used in fair value measurement of assets [Line Items] | |
Valuation model | Because these instruments have a maturity of less than 3 months, amortized cost is regarded as an acceptable approximation of fair value as disclosed in the notes to the consolidated financial statements. |
Debt Securities [Member] | Amortized Cost [Member] | |
Disclosure of significant unobservable inputs used in fair value measurement of assets [Line Items] | |
Valuation model | In the case of debt with a maturity of less than 3 months, amortized cost is regarded as an acceptable approximation of fair value as reported in the notes to the consolidated financial statements. For debt with a maturity of more than 3 months, fair value as reported in the notes to the consolidated financial statements is determined either by reference to quoted market prices at the end of the reporting period (quoted instruments) or by discounting the future cash flows based on observable market data at the end of the reporting period (unquoted instruments). |
Liabilities Related to Business Combinations and to Non-Controlling Interests (CVRs) [Member] | Fair value [Member] | |
Disclosure of significant unobservable inputs used in fair value measurement of assets [Line Items] | |
Valuation model | Quoted market price |
Exchange rate | N/A |
Interest rate | N/A |
Liabilities Related to Business Combinations and to Non-Controlling Interests (Other Than CVRs) [Member] | Fair value [Member] | |
Disclosure of significant unobservable inputs used in fair value measurement of assets [Line Items] | |
Valuation model | Under IAS 32, contingent consideration payable in a business combination is a financial liability. The fair value of such liabilities is determined by adjusting the contingent consideration at the end of the reporting period using the method described in Note D.18 |
Summary of Significant Accoun92
Summary of Significant Accounting Policies - Treasury Shares - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2017EUR (€) | |
Equity [Abstract] | |
Gain (loss) recognized on purchase of treasury shares | € 0 |
Gain (loss) recognized on sale of treasury shares | 0 |
Gain (loss) recognized on impairment of treasury shares | 0 |
Gain (loss) recognized on cancellation of treasury shares | € 0 |
Summary of Significant Accoun93
Summary of Significant Accounting Policies - Provision for Risks - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2017EUR (€) | |
Disclosure Of Provisions For Risk [abstract] | |
Provisions recorded for future operating losses | € 0 |
Summary of Significant Accoun94
Summary of Significant Accounting Policies - Income Tax Expense - Additional Information (Detail) - EUR (€) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure Of Income Taxes [Line Items] | |||
Deferred tax expense | € (909,000,000) | € (543,000,000) | € (1,269,000,000) |
Elimination of Inter-segment Amounts [Member] | |||
Disclosure Of Income Taxes [Line Items] | |||
Deferred tax expense | € 0 |
Summary of Significant Accoun95
Summary of Significant Accounting Policies - Employee Benefit Obligations - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of defined benefit plans [Abstract] | |
Description of nature of benefits provided by plan | Benefits are provided in the form of either defined contribution plans or defined benefit plans. In the case of defined contribution plans, the cost is recognized immediately in the period in which it is incurred, and equates to the amount of the contributions paid by Sanofi. For defined benefit plans, Sanofi generally recognizes its obligations to pay pensions and similar benefits to employees as a liability, based on an actuarial estimate of the rights vested or currently vesting in employees and retirees, using the projected unit credit method. Estimates are performed at least once a year, and rely on financial assumptions (such as discount rates) and demographic assumptions (such as life expectancy, retirement age, employee turnover, and the rate of salary increases). |
Summary of Significant Accoun96
Summary of Significant Accounting Policies - Share-Based Payment - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2017 | |
Share Based Payment Plans [Line Items] | |
Description of method of settlement for share-based payment arrangement | Sanofi has granted a number of equity-settledshare-based payment plans (stock option plans) to some of its employees. The terms of those plans may make the award contingent on the attainment of performance criteria for some of the grantees. |
Description of vesting requirements for share-based payment arrangement | In accordance with IFRS 2, an expense equivalent to the fair value of such plans is recognized on a straight line basis over the vesting period of the plan, with the opposite entry recognized in equity. Depending on the country, the vesting period of such plans is either three or four years. Plans with a two-year or three-year vesting period are subject to a two-yearlock-up period. |
Lock-up period | 2 years |
Stock Option Plans [member] | |
Share Based Payment Plans [Line Items] | |
Option vesting period | 4 years |
Summary of Significant Accoun97
Summary of Significant Accounting Policies - Segment Information - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2017Segments | |
Disclosure of operating segments [Line Items] | |
Number of operating segments | 3 |
Pharmaceuticals [Member] | |
Disclosure of operating segments [Line Items] | |
Segment description | The Pharmaceuticals segment comprises the commercial operations of the following global franchises: Specialty Care (Rare Diseases, Multiple Sclerosis, Oncology, Immunology), Diabetes & Cardiovascular, Established Prescription Products and Generics, together with research, development and production activities dedicated to our Pharmaceuticals segment. This segment also includes all associates whose activities are related to pharmaceuticals, in particular Regeneron. |
Vaccines [Member] | |
Disclosure of operating segments [Line Items] | |
Segment description | The Vaccines segment comprises, for all geographical territories (including from January 1, 2017 certain European territories previously included in the Sanofi Pasteur MSD joint venture), the commercial operations of Sanofi Pasteur, together with research, development and production activities dedicated to vaccines. |
Consumer Healthcare [Member] | |
Disclosure of operating segments [Line Items] | |
Segment description | The Consumer Healthcare segment comprises, for all geographical territories, the commercial operations for our Consumer Healthcare products, together with research, development and production activities dedicated to those products. |
Alliance Arrangements with Rege
Alliance Arrangements with Regeneron Pharmaceuticals, Inc. (Regeneron) - Antibodies Collaboration Agreement - Additional Information (Detail) - Antibodies Collaboration Agreement [Member] $ in Millions, € in Billions | Jul. 28, 2015USD ($) | Nov. 30, 2007USD ($) | Nov. 30, 2009USD ($) | Dec. 31, 2017EUR (€) |
Disclosure of detailed information about business combination [Line Items] | ||||
Share percent in development costs of Sanofi | 80.00% | |||
Cumulative development cost incurred | € | € 5.2 | |||
Cumulative development cost incurred - Sanofi part | € | € 2.9 | |||
Outside the United States [Member] | Bottom of range [Member] | ||||
Disclosure of detailed information about business combination [Line Items] | ||||
Percentage of profits and losses arising from commercial operations | 55.00% | |||
Outside the United States [Member] | Top of range [Member] | ||||
Disclosure of detailed information about business combination [Line Items] | ||||
Percentage of profits and losses arising from commercial operations | 65.00% | |||
Regeneron Pharmaceuticals, Inc. [Member] | ||||
Disclosure of detailed information about business combination [Line Items] | ||||
Reallocation of the development expenses to IO from Antibodies Collaboration Agreement | $ | $ 75 | |||
Maximum funding of the discovery and pre-clinical development of antibodies | $ | $ 160 | |||
Share percent in development costs of regeneron | 20.00% | |||
Percentage of cumulative development costs reimbursed | 50.00% | |||
Maximum additional profit-share, in percentage of Regeneron's quarterly profit | 10.00% | |||
Cumulative development cost incurred - Sanofi part 80% and Regeneron part 20% | € | € 2.3 | |||
Percentage of losses borne by Sanofi | 55.00% | |||
Contingent sales milestone receivable | $ | $ 250 | |||
Regeneron Pharmaceuticals, Inc. [Member] | United States [Member] | ||||
Disclosure of detailed information about business combination [Line Items] | ||||
Percentage of profits and losses arising from commercial operations | 50.00% |
Alliance Arrangements with Re99
Alliance Arrangements with Regeneron Pharmaceuticals, Inc. (Regeneron) - Immuno-Oncology Agreement - Additional Information (Detail) - Regeneron Pharmaceuticals, Inc. [Member] - Immuno-Oncology Collaboration Agreement [Member] - USD ($) $ in Thousands | Jul. 28, 2015 | Jan. 31, 2018 | Nov. 30, 2009 |
Disclosure of detailed information about business combination [Line Items] | |||
Upfront payments | $ 640,000 | ||
Future development expense | $ 1,000,000 | ||
Percentage of future development expense - Regeneron part | 25.00% | ||
Future development expense - Regeneron part | $ 250,000 | ||
Percentage of future development expense - Sanofi part | 75.00% | ||
Future development expense - Sanofi part | $ 750,000 | ||
Maximum additional profit-share, in percentage of Regeneron's quarterly profit | 10.00% | ||
Percentage of cumulative development costs reimbursed | 50.00% | ||
Maximum additional funding for PD1 | $ 650,000 | $ 1,640 | |
Maximum additional funding for PD1 - part of each company | 325,000 | ||
PD1 Sales Milestone payment from Sanofi | 375,000 | ||
Minimum sales of PD1 in 12-month period to be achieved for milestone payment | 2,000,000 | ||
Reallocation of the development expenses to IO from Antibodies Collaboration Agreement | $ 75,000 | ||
Agreement period | 3 years | ||
Maximum funding of the discovery and pre-clinical development of antibodies | $ 160,000 |
Alliance Arrangements with R100
Alliance Arrangements with Regeneron Pharmaceuticals, Inc. (Regeneron) - Investment Agreement - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2017 | |
Regeneron Pharmaceuticals, Inc. [Member] | Investment agreement [member] | |
Disclosure of detailed information about business combination [Line Items] | |
Maximum ownership percentage allowed to acquire | 30.00% |
Alliance Arrangements with Bris
Alliance Arrangements with Bristol-Myers Squibb (BMS) - Additional Information (Detail) - Entities and Companies Managed by Bristol-Myers Squibb [Member] $ in Millions | 12 Months Ended |
Dec. 31, 2017USD ($)Product | |
Disclosure of detailed information about business combination [Line Items] | |
Number of leading products jointly developed | Product | 2 |
Royalty payment to be paid by Sanofi | $ | $ 200 |
Exchange of The Animal Healt102
Exchange of The Animal Health Business - Additional Information (Detail) - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | [3] | ||
Disclosure of non-adjusting events after reporting period [Line Items] | |||||
Exchange value of the Animal Health business | € 10,557 | ||||
Exchange value of the Boehringer Ingelheim Consumer Health Care business | 6,239 | ||||
Pre-tax gain recognized related to exchanged/held-for-exchange Animal Health business | 6,343 | ||||
After-tax gain recognized related to exchanged/held-for-exchange Animal Health business | [1],[2] | 4,643 | € 314 | € (124) | |
Sale of combined entity | 1,407 | ||||
Acquisition of Boehringer Inhelheim's Consumer Healthcare Business [Member] | |||||
Disclosure of non-adjusting events after reporting period [Line Items] | |||||
Tax-deductible portion of goodwill amount | € 1,876 | ||||
[1] | For 2015 and 2016, cash flows of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations). For 2017, all of the cash flows generated from the exchange of the Animal Health business for the Consumer Healthcare business of Boehringer Ingelheim (BI) are described in note (i) below. | ||||
[2] | The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36. | ||||
[3] | Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.). |
Exchange of The Animal Healt103
Exchange of The Animal Health Business - Schedule of Purchase Price Allocation (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Jan. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of detailed information about business combination [Line Items] | ||||
Other intangible assets | € 13,080 | € 10,879 | € 12,026 | |
Goodwill | 40,264 | € 40,287 | € 39,557 | |
Acquisition of Boehringer Inhelheim's Consumer Healthcare Business [Member] | ||||
Disclosure of detailed information about business combination [Line Items] | ||||
Property, plant and equipment | 67 | |||
Other intangible assets | 3,771 | |||
Other non-current assets and liabilities | (84) | |||
Inventories | 296 | |||
Other current assets and liabilities | 46 | |||
Held-for-sale assets | 77 | |||
Net deferred tax position | (156) | |||
Net assets at acquisition date | 4,017 | |||
Goodwill | 2,222 | € 2,222 | ||
Purchase price | € 6,239 |
Changes in The Scope Of Cons104
Changes in The Scope Of Consolidation Due to Acquisitions And Divestments - Additional Information (Detail) - EUR (€) € in Millions | Aug. 25, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Jan. 04, 2017 |
Disclosure of detailed information about business combination [Line Items] | |||||
Goodwill | € 40,264 | € 40,287 | € 39,557 | ||
Protein Sciences [Member] | |||||
Disclosure of detailed information about business combination [Line Items] | |||||
Date of acquisition | Aug. 25, 2017 | ||||
Percentage of voting equity interests acquired | 100.00% | ||||
Goodwill | € 125 | ||||
Contingent consideration | € 42 | ||||
Sanofi Pasteur MSD joint venture [Member] | |||||
Disclosure of detailed information about business combination [Line Items] | |||||
Cash received from divestment | € 127 | ||||
Fair value of the contingent consideration | 458 | ||||
Pre-tax gain of the divestment | € 211 | ||||
Negative price adjustment amount | € (31) | ||||
Regeneron [Member] | |||||
Disclosure of detailed information about business combination [Line Items] | |||||
Percentage of voting equity interests acquired | 22.20% | 22.10% | 22.10% | ||
Value of shares acquired | € 184 | € 115 | € 117 | ||
Carrying amount of shares | 2,512 | 2,548 | € 2,245 | ||
European Vaccines business previously included in the Sanofi Pasteur MSD joint venture [Member] | |||||
Disclosure of detailed information about business combination [Line Items] | |||||
Goodwill | 21 | ||||
Contingent consideration | € 354 | ||||
Negative price adjustment amount | € (16) | ||||
Cash transferred | € 154 |
Changes in The Scope Of Cons105
Changes in The Scope Of Consolidation Due to Acquisition A Divestments - Summary of Purchase Price Allocation (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Aug. 25, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of detailed information about business combination [Line Items] | ||||
Goodwill | € 40,264 | € 40,287 | € 39,557 | |
Protein Sciences [Member] | ||||
Disclosure of detailed information about business combination [Line Items] | ||||
Other intangible assets | € 776 | |||
Inventories | 4 | |||
Other assets and liabilities | (15) | |||
Net deferred tax position | (259) | |||
Net assets at acquisition date | 506 | |||
Goodwill | 125 | |||
Purchase price | € 631 |
Changes in the Scope of Cons106
Changes in the Scope of Consolidation Due to Acquisitions and Divestments - Summary of Final Purchase Price Allocation (Detail) - European Vaccines business previously included in the Sanofi Pasteur MSD joint venture [Member] - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of detailed information about business combination [Line Items] | ||
Other intangible assets | € 465 | € 465 |
Inventories | 17 | |
Other current assets | 2 | |
Other non-current liabilities | (5) | |
Net deferred tax position | (10) | |
Net assets of the European Vaccines business at the acquisition date | 469 | |
Goodwill | 21 | |
Purchase price | € 490 |
Property, Plant and Equipment -
Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Including Assets Held Under Finance Leases) (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Property, plant and equipment, beginning balance | € 10,019 | € 9,943 | |
Acquisitions and other increases | 1,394 | ||
Property, plant and equipment, ending balance | 9,579 | 10,019 | € 9,943 |
Gross value [Member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Property, plant and equipment, beginning balance | 21,877 | 21,109 | 20,880 |
Changes in scope of consolidation | 69 | (32) | |
Acquisitions and other increases | 1,394 | 1,340 | 1,318 |
Disposals and other decreases | (631) | (612) | (173) |
Currency translation differences | (784) | 132 | 320 |
Transfers (a) | 53 | (92) | (124) |
Reclassification of the Animal Health business (b) | (1,080) | ||
Property, plant and equipment, ending balance | 21,978 | 21,877 | 21,109 |
Accumulated depreciation and amortisation [Member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Property, plant and equipment, beginning balance | (11,858) | (11,166) | (10,484) |
Changes in scope of consolidation | 45 | ||
Depreciation expense | (1,121) | (1,141) | (1,191) |
Impairment losses, net of reversals | (254) | (159) | (132) |
Disposals and other decreases | 557 | 591 | 153 |
Currency translation differences | 343 | (57) | (99) |
Transfers (a) | (66) | 74 | 119 |
Reclassification of the Animal Health business (b) | 423 | ||
Property, plant and equipment, ending balance | (12,399) | (11,858) | (11,166) |
Land [member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Property, plant and equipment, beginning balance | 320 | 325 | |
Property, plant and equipment, ending balance | 298 | 320 | 325 |
Land [member] | Gross value [Member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Property, plant and equipment, beginning balance | 327 | 336 | 372 |
Changes in scope of consolidation | 22 | (4) | |
Disposals and other decreases | (10) | (10) | (3) |
Currency translation differences | (21) | 1 | 5 |
Transfers (a) | (1) | ||
Reclassification of the Animal Health business (b) | (33) | ||
Property, plant and equipment, ending balance | 318 | 327 | 336 |
Land [member] | Accumulated depreciation and amortisation [Member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Property, plant and equipment, beginning balance | (7) | (11) | (17) |
Changes in scope of consolidation | 6 | ||
Impairment losses, net of reversals | (11) | (3) | |
Disposals and other decreases | 3 | ||
Currency translation differences | 1 | ||
Transfers (a) | (3) | 4 | |
Property, plant and equipment, ending balance | (20) | (7) | (11) |
Buildings [Member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Property, plant and equipment, beginning balance | 3,531 | 3,600 | |
Property, plant and equipment, ending balance | 3,156 | 3,531 | 3,600 |
Buildings [Member] | Gross value [Member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Property, plant and equipment, beginning balance | 6,958 | 6,732 | 6,915 |
Changes in scope of consolidation | 23 | 1 | |
Acquisitions and other increases | 10 | 9 | 11 |
Disposals and other decreases | (124) | (111) | (4) |
Currency translation differences | (326) | 81 | 144 |
Transfers (a) | 227 | 247 | 269 |
Reclassification of the Animal Health business (b) | (604) | ||
Property, plant and equipment, ending balance | 6,768 | 6,958 | 6,732 |
Buildings [Member] | Accumulated depreciation and amortisation [Member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Property, plant and equipment, beginning balance | (3,427) | (3,132) | (2,979) |
Changes in scope of consolidation | 5 | ||
Depreciation expense | (329) | (356) | (376) |
Impairment losses, net of reversals | (45) | (31) | (38) |
Disposals and other decreases | 94 | 107 | 3 |
Currency translation differences | 140 | (37) | (33) |
Transfers (a) | (45) | 22 | 34 |
Reclassification of the Animal Health business (b) | 252 | ||
Property, plant and equipment, ending balance | (3,612) | (3,427) | (3,132) |
Machinery and Equipment [Member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Property, plant and equipment, beginning balance | 3,554 | 3,526 | |
Property, plant and equipment, ending balance | 3,260 | 3,554 | 3,526 |
Machinery and Equipment [Member] | Gross value [Member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Property, plant and equipment, beginning balance | 10,034 | 9,742 | 9,419 |
Changes in scope of consolidation | 11 | (8) | |
Acquisitions and other increases | 63 | 48 | 76 |
Disposals and other decreases | (261) | (350) | (17) |
Currency translation differences | (278) | 36 | 122 |
Transfers (a) | 576 | 558 | 463 |
Reclassification of the Animal Health business (b) | (313) | ||
Property, plant and equipment, ending balance | 10,145 | 10,034 | 9,742 |
Machinery and Equipment [Member] | Accumulated depreciation and amortisation [Member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Property, plant and equipment, beginning balance | (6,480) | (6,216) | (5,780) |
Changes in scope of consolidation | 12 | ||
Depreciation expense | (595) | (595) | (607) |
Impairment losses, net of reversals | (177) | (17) | (42) |
Disposals and other decreases | 239 | 348 | 15 |
Currency translation differences | 147 | (16) | (49) |
Transfers (a) | (19) | 16 | 90 |
Reclassification of the Animal Health business (b) | 145 | ||
Property, plant and equipment, ending balance | (6,885) | (6,480) | (6,216) |
Fixtures and Fittings [Member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Property, plant and equipment, beginning balance | 664 | 706 | |
Property, plant and equipment, ending balance | 646 | 664 | 706 |
Fixtures and Fittings [Member] | Gross value [Member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Property, plant and equipment, beginning balance | 2,421 | 2,347 | 2,215 |
Changes in scope of consolidation | 6 | 1 | |
Acquisitions and other increases | 54 | 51 | 59 |
Disposals and other decreases | (125) | (104) | (126) |
Currency translation differences | (75) | (1) | 24 |
Transfers (a) | 169 | 128 | 228 |
Reclassification of the Animal Health business (b) | (54) | ||
Property, plant and equipment, ending balance | 2,450 | 2,421 | 2,347 |
Fixtures and Fittings [Member] | Accumulated depreciation and amortisation [Member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Property, plant and equipment, beginning balance | (1,757) | (1,641) | (1,549) |
Depreciation expense | (197) | (190) | (208) |
Impairment losses, net of reversals | (6) | (30) | (11) |
Disposals and other decreases | 117 | 100 | 122 |
Currency translation differences | 53 | (2) | (17) |
Transfers (a) | (14) | 6 | (4) |
Reclassification of the Animal Health business (b) | 26 | ||
Property, plant and equipment, ending balance | (1,804) | (1,757) | (1,641) |
Property, plant and equipment in process [member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Property, plant and equipment, beginning balance | 1,950 | 1,786 | |
Property, plant and equipment, ending balance | 2,219 | 1,950 | 1,786 |
Property, plant and equipment in process [member] | Gross value [Member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Property, plant and equipment, beginning balance | 2,137 | 1,952 | 1,959 |
Changes in scope of consolidation | 7 | (22) | |
Acquisitions and other increases | 1,267 | 1,232 | 1,172 |
Disposals and other decreases | (111) | (37) | (23) |
Currency translation differences | (84) | 15 | 25 |
Transfers (a) | (919) | (1,025) | (1,083) |
Reclassification of the Animal Health business (b) | (76) | ||
Property, plant and equipment, ending balance | 2,297 | 2,137 | 1,952 |
Property, plant and equipment in process [member] | Accumulated depreciation and amortisation [Member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Property, plant and equipment, beginning balance | (187) | (166) | (159) |
Changes in scope of consolidation | 22 | ||
Impairment losses, net of reversals | (15) | (78) | (41) |
Disposals and other decreases | 107 | 33 | 13 |
Currency translation differences | 2 | (2) | |
Transfers (a) | 15 | 26 | (1) |
Property, plant and equipment, ending balance | € (78) | € (187) | € (166) |
Property, Plant and Equipmen108
Property, Plant and Equipment - Additional Information (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Additions other than through business combinations, property, plant and equipment | € 1,394 | ||
Firm orders of property plant and equipment | 508 | € 545 | € 436 |
Property, plant and equipment pledged as security | 128 | 241 | 249 |
Impairment loss recognised in profit or loss, property, plant and equipment | 254 | 159 | 132 |
Finance lease obligations total | 39 | 66 | 83 |
Future minimum lease interest payments | 7 | 13 | 15 |
Dengue vaccine project [Member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Impairment loss recognised in profit or loss, property, plant and equipment | 87 | ||
Capitalised interest [member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Additions other than through business combinations, property, plant and equipment | 20 | 17 | 15 |
Consumer Healthcare [Member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Additions other than through business combinations, property, plant and equipment | 10 | ||
Pharmaceuticals [Member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Additions other than through business combinations, property, plant and equipment | 1,005 | ||
Pharmaceuticals [Member] | Genzyme [Member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Additions other than through business combinations, property, plant and equipment | 0 | 8 | 80 |
Pharmaceuticals [Member] | Industrial Facilities [Member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Additions other than through business combinations, property, plant and equipment | 741 | 761 | 594 |
Pharmaceuticals [Member] | Research Sites [Member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Additions other than through business combinations, property, plant and equipment | 138 | 164 | 82 |
Vaccines [Member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Additions other than through business combinations, property, plant and equipment | € 379 | € 271 | € 260 |
Property, Plant and Equipmen109
Property, Plant and Equipment - Schedule of Amounts for Items of Property, Plant and Equipment Held under Finance Leases (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of recognised finance lease as assets by lessee [Line Items] | |||
Property,plant and equipment held under finance leases | € 28 | € 34 | € 43 |
Gross value [Member] | |||
Disclosure of recognised finance lease as assets by lessee [Line Items] | |||
Property,plant and equipment held under finance leases | 115 | 113 | 112 |
Gross value [Member] | Land [member] | |||
Disclosure of recognised finance lease as assets by lessee [Line Items] | |||
Property,plant and equipment held under finance leases | 4 | 3 | 3 |
Gross value [Member] | Buildings [Member] | |||
Disclosure of recognised finance lease as assets by lessee [Line Items] | |||
Property,plant and equipment held under finance leases | 102 | 102 | 101 |
Gross value [Member] | Other Property, Plant and Equipment [Member] | |||
Disclosure of recognised finance lease as assets by lessee [Line Items] | |||
Property,plant and equipment held under finance leases | 9 | 8 | 8 |
Accumulated depreciation and amortisation [Member] | |||
Disclosure of recognised finance lease as assets by lessee [Line Items] | |||
Property,plant and equipment held under finance leases | € (87) | € (79) | € (69) |
Property, Plant and Equipmen110
Property, Plant and Equipment - Schedule of Future Minimum Lease Payment Schedule (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of recognised finance lease as assets by lessee [Line Items] | |||
Principal | € 32 | ||
Interest | 7 | € 13 | € 15 |
Total | 39 | € 66 | € 83 |
Less than 1 year [Member] | |||
Disclosure of recognised finance lease as assets by lessee [Line Items] | |||
Principal | 11 | ||
Interest | 2 | ||
Total | 13 | ||
1 to 3 years [Member] | |||
Disclosure of recognised finance lease as assets by lessee [Line Items] | |||
Principal | 6 | ||
Interest | 2 | ||
Total | 8 | ||
3 to 5 years [Member] | |||
Disclosure of recognised finance lease as assets by lessee [Line Items] | |||
Principal | 6 | ||
Interest | 2 | ||
Total | 8 | ||
More Than 5 Years [Member] | |||
Disclosure of recognised finance lease as assets by lessee [Line Items] | |||
Principal | 9 | ||
Interest | 1 | ||
Total | € 10 |
Goodwill and Other Intangibl111
Goodwill and Other Intangible Assets - Schedule of Movements in Goodwill (Detail) - Goodwill [member] - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of reconciliation of changes in goodwill [Line Items] | |||
Beginning balance | € 40,287 | € 39,557 | € 39,197 |
Acquisitions during the period | 2,347 | 5 | |
Reclassification of the Animal Health business | (1,510) | ||
Other movements during the period | 12 | ||
Currency translation differences | (2,382) | 725 | 1,870 |
Ending balance | € 40,264 | € 40,287 | € 39,557 |
Goodwill and Other Intangibl112
Goodwill and Other Intangible Assets - Additional Information (Detail) - EUR (€) € in Millions | 12 Months Ended | ||||||
Dec. 31, 2017 | Dec. 31, 2016 | Aug. 25, 2017 | Jan. 31, 2017 | Jan. 04, 2017 | Jan. 01, 2017 | Dec. 31, 2015 | |
Disclosure of reconciliation of changes in goodwill [Line Items] | |||||||
Goodwill | € 40,264 | € 40,287 | € 39,557 | ||||
Weighted average amortization period | 1 and 25 years | ||||||
Intangible assets excluding software [Member] | |||||||
Disclosure of reconciliation of changes in goodwill [Line Items] | |||||||
Additions other than through business combinations, intangible assets other than goodwill | € 529 | ||||||
Marketed Products [Member] | |||||||
Disclosure of reconciliation of changes in goodwill [Line Items] | |||||||
Identifiable intangible assets recognised as of acquisition date | € 10,600 | 8,400 | 9,400 | ||||
Concentration risk percentage | 85.00% | ||||||
Weighted average amortization period | 10 years | ||||||
Acquired in Process R and D [Member] | |||||||
Disclosure of reconciliation of changes in goodwill [Line Items] | |||||||
Acquired R and D starting to be amortized in the period | € 9 | ||||||
Trademarks [Member] | |||||||
Disclosure of reconciliation of changes in goodwill [Line Items] | |||||||
Identifiable intangible assets recognised as of acquisition date | € 200 | 200 | 300 | ||||
Weighted average amortization period | 13 years | ||||||
Protein Sciences [Member] | |||||||
Disclosure of reconciliation of changes in goodwill [Line Items] | |||||||
Identifiable intangible assets recognised as of acquisition date | € 776 | ||||||
Goodwill | 125 | ||||||
Flublok [Member] | |||||||
Disclosure of reconciliation of changes in goodwill [Line Items] | |||||||
Identifiable intangible assets recognised as of acquisition date | € 767 | ||||||
Acquisition of Boehringer Inhelheim's Consumer Healthcare Business [Member] | |||||||
Disclosure of reconciliation of changes in goodwill [Line Items] | |||||||
Identifiable intangible assets recognised as of acquisition date | € 3,771 | ||||||
Goodwill | € 2,222 | € 2,222 | |||||
European Vaccines business previously included in the Sanofi Pasteur MSD joint venture [Member] | |||||||
Disclosure of reconciliation of changes in goodwill [Line Items] | |||||||
Identifiable intangible assets recognised as of acquisition date | 465 | 465 | |||||
Goodwill | 21 | ||||||
Acquisition settled in cash | € 154 | ||||||
Genzyme [Member] | |||||||
Disclosure of reconciliation of changes in goodwill [Line Items] | |||||||
Identifiable intangible assets recognised as of acquisition date | 10,059 | ||||||
Goodwill | 4,775 | € 5,031 | 4,946 | ||||
Acquired R and D starting to be amortized in the period | 474 | ||||||
Genzyme [Member] | Marketed Products [Member] | |||||||
Disclosure of reconciliation of changes in goodwill [Line Items] | |||||||
Identifiable intangible assets recognised as of acquisition date | € 7,727 | ||||||
Concentration risk percentage | 99.00% | 99.00% | |||||
Genzyme [Member] | In-Process Research and Development Projects [Member] | |||||||
Disclosure of reconciliation of changes in goodwill [Line Items] | |||||||
Identifiable intangible assets recognised as of acquisition date | € 2,148 | ||||||
Concentration risk percentage | 1.00% | 1.00% | |||||
Genzyme [Member] | Brands [Member] | |||||||
Disclosure of reconciliation of changes in goodwill [Line Items] | |||||||
Identifiable intangible assets recognised as of acquisition date | € 146 | ||||||
Aventis [Member] | |||||||
Disclosure of reconciliation of changes in goodwill [Line Items] | |||||||
Goodwill | 29,284 | € 31,124 | 30,587 | ||||
Total purchase price amount | 52,908 | ||||||
Acquisition settled in cash | € 15,894 | ||||||
Lyxumia and Soliqua [Member] | Acquired in Process R and D [Member] | |||||||
Disclosure of reconciliation of changes in goodwill [Line Items] | |||||||
Acquired R and D starting to be amortized in the period | € 52 | ||||||
Dengue Fever [Member] | Acquired in Process R and D [Member] | |||||||
Disclosure of reconciliation of changes in goodwill [Line Items] | |||||||
Acquired R and D starting to be amortized in the period | € 230 |
Goodwill and Other Intangibl113
Goodwill and Other Intangible Assets - Schedule of Movements in Other Intangible Assets (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of detailed information about intangible assets [Line Items] | |||
Other intangible assets, Beginning balance | € 10,879 | € 12,026 | |
Other intangible assets, Ending balance | 13,080 | 10,879 | € 12,026 |
Gross value [Member] | |||
Disclosure of detailed information about intangible assets [Line Items] | |||
Other intangible assets, Beginning balance | 58,082 | 57,087 | 57,852 |
Changes in scope of consolidation | 4,547 | 465 | |
Acquisitions and other increases | 699 | 417 | 2,245 |
Disposals and other decreases | (551) | (1,065) | (1,552) |
Currency translation differences | (4,065) | 1,196 | 3,834 |
Transfers | (27) | (18) | (77) |
Reclassification of the Animal Health business | (5,215) | ||
Other intangible assets, Ending balance | 58,685 | 58,082 | 57,087 |
Accumulated depreciation and amortisation [Member] | |||
Disclosure of detailed information about intangible assets [Line Items] | |||
Other intangible assets, Beginning balance | (47,203) | (45,061) | (43,309) |
Amortization expense | (1,998) | (1,816) | (2,759) |
Impairment losses, net of reversals | (313) | (197) | (773) |
Disposals and other decreases | 546 | 854 | 1,488 |
Currency translation differences | 3,315 | (984) | (2,809) |
Transfers | 48 | 1 | 33 |
Reclassification of the Animal Health business | 3,068 | ||
Other intangible assets, Ending balance | (45,605) | (47,203) | (45,061) |
Acquired R and D [member] | |||
Disclosure of detailed information about intangible assets [Line Items] | |||
Other intangible assets, Beginning balance | 1,359 | 1,553 | |
Other intangible assets, Ending balance | 1,475 | 1,359 | 1,553 |
Acquired R and D [member] | Gross value [Member] | |||
Disclosure of detailed information about intangible assets [Line Items] | |||
Other intangible assets, Beginning balance | 3,649 | 3,854 | 3,482 |
Acquisitions and other increases | 317 | 142 | 1,179 |
Disposals and other decreases | (39) | (305) | (204) |
Currency translation differences | (200) | 55 | 189 |
Transfers | (48) | (97) | (741) |
Reclassification of the Animal Health business | (51) | ||
Other intangible assets, Ending balance | 3,679 | 3,649 | 3,854 |
Acquired R and D [member] | Accumulated depreciation and amortisation [Member] | |||
Disclosure of detailed information about intangible assets [Line Items] | |||
Other intangible assets, Beginning balance | (2,290) | (2,301) | (2,041) |
Impairment losses, net of reversals | (95) | (60) | (343) |
Disposals and other decreases | 39 | 108 | 204 |
Currency translation differences | 142 | (41) | (124) |
Transfers | 4 | ||
Reclassification of the Animal Health business | 3 | ||
Other intangible assets, Ending balance | (2,204) | (2,290) | (2,301) |
Marketed products, trademarks and other rights [member] | |||
Disclosure of detailed information about intangible assets [Line Items] | |||
Other intangible assets, Beginning balance | 9,110 | 10,114 | |
Other intangible assets, Ending balance | 11,162 | 9,110 | 10,114 |
Marketed products, trademarks and other rights [member] | Gross value [Member] | |||
Disclosure of detailed information about intangible assets [Line Items] | |||
Other intangible assets, Beginning balance | 53,107 | 52,002 | 53,130 |
Changes in scope of consolidation | 4,546 | 465 | |
Acquisitions and other increases | 212 | 127 | 912 |
Disposals and other decreases | (450) | (687) | (1,321) |
Currency translation differences | (3,814) | 1,124 | 3,610 |
Transfers | 37 | 76 | 653 |
Reclassification of the Animal Health business | (4,982) | ||
Other intangible assets, Ending balance | 53,638 | 53,107 | 52,002 |
Marketed products, trademarks and other rights [member] | Accumulated depreciation and amortisation [Member] | |||
Disclosure of detailed information about intangible assets [Line Items] | |||
Other intangible assets, Beginning balance | (43,997) | (41,888) | (40,352) |
Amortization expense | (1,886) | (1,712) | (2,651) |
Impairment losses, net of reversals | (215) | (137) | (427) |
Disposals and other decreases | 443 | 673 | 1,257 |
Currency translation differences | 3,138 | (931) | (2,662) |
Transfers | 41 | (2) | 39 |
Reclassification of the Animal Health business | 2,908 | ||
Other intangible assets, Ending balance | (42,476) | (43,997) | (41,888) |
Software [Member] | |||
Disclosure of detailed information about intangible assets [Line Items] | |||
Other intangible assets, Beginning balance | 410 | 359 | |
Other intangible assets, Ending balance | 443 | 410 | 359 |
Software [Member] | Gross value [Member] | |||
Disclosure of detailed information about intangible assets [Line Items] | |||
Other intangible assets, Beginning balance | 1,326 | 1,231 | 1,240 |
Changes in scope of consolidation | 1 | ||
Acquisitions and other increases | 170 | 148 | 154 |
Disposals and other decreases | (62) | (73) | (27) |
Currency translation differences | (51) | 17 | 35 |
Transfers | (16) | 3 | 11 |
Reclassification of the Animal Health business | (182) | ||
Other intangible assets, Ending balance | 1,368 | 1,326 | 1,231 |
Software [Member] | Accumulated depreciation and amortisation [Member] | |||
Disclosure of detailed information about intangible assets [Line Items] | |||
Other intangible assets, Beginning balance | (916) | (872) | (916) |
Amortization expense | (112) | (104) | (108) |
Impairment losses, net of reversals | (3) | (3) | |
Disposals and other decreases | 64 | 73 | 27 |
Currency translation differences | 35 | (12) | (23) |
Transfers | 7 | (1) | (6) |
Reclassification of the Animal Health business | 157 | ||
Other intangible assets, Ending balance | € (925) | € (916) | € (872) |
Goodwill and Other Intangibl114
Goodwill and Other Intangible Assets - Detailed Information for Principal Marketed Products (Detail) € in Millions | 12 Months Ended | ||
Dec. 31, 2017EUR (€)yr | Dec. 31, 2016EUR (€) | Dec. 31, 2015EUR (€) | |
Disclosure of detailed information about intangible assets [Line Items] | |||
Other intangible assets | € 13,080 | € 10,879 | € 12,026 |
Useful lives or amortisation rates, intangible assets other than goodwill | 1 and 25 years | ||
Genzyme [member] | |||
Disclosure of detailed information about intangible assets [Line Items] | |||
Other intangible assets | € 3,834 | 5,009 | 5,759 |
Useful lives or amortisation rates, intangible assets other than goodwill | 10 years | ||
Residual amortization period (years) | yr | 6 | ||
Genzyme [member] | Gross value [Member] | |||
Disclosure of detailed information about intangible assets [Line Items] | |||
Other intangible assets | € 10,287 | ||
Genzyme [member] | Accumulated depreciation and amortisation [Member] | |||
Disclosure of detailed information about intangible assets [Line Items] | |||
Other intangible assets | (6,453) | ||
Principal Marketed Products Boehringer Ingelheim Consumer Healthcare [Member] | |||
Disclosure of detailed information about intangible assets [Line Items] | |||
Other intangible assets | € 3,442 | ||
Useful lives or amortisation rates, intangible assets other than goodwill | 16 years | ||
Residual amortization period (years) | yr | 16 | ||
Principal Marketed Products Boehringer Ingelheim Consumer Healthcare [Member] | Gross value [Member] | |||
Disclosure of detailed information about intangible assets [Line Items] | |||
Other intangible assets | € 3,683 | ||
Principal Marketed Products Boehringer Ingelheim Consumer Healthcare [Member] | Accumulated depreciation and amortisation [Member] | |||
Disclosure of detailed information about intangible assets [Line Items] | |||
Other intangible assets | (241) | ||
Aventis [member] | |||
Disclosure of detailed information about intangible assets [Line Items] | |||
Other intangible assets | € 584 | 1,095 | 1,548 |
Useful lives or amortisation rates, intangible assets other than goodwill | 9 years | ||
Residual amortization period (years) | yr | 3 | ||
Aventis [member] | Gross value [Member] | |||
Disclosure of detailed information about intangible assets [Line Items] | |||
Other intangible assets | € 32,308 | ||
Aventis [member] | Accumulated depreciation and amortisation [Member] | |||
Disclosure of detailed information about intangible assets [Line Items] | |||
Other intangible assets | (31,724) | ||
Chattem [member] | |||
Disclosure of detailed information about intangible assets [Line Items] | |||
Other intangible assets | € 766 | 930 | 956 |
Useful lives or amortisation rates, intangible assets other than goodwill | 23 years | ||
Residual amortization period (years) | yr | 16 | ||
Chattem [member] | Gross value [Member] | |||
Disclosure of detailed information about intangible assets [Line Items] | |||
Other intangible assets | € 1,217 | ||
Chattem [member] | Accumulated depreciation and amortisation [Member] | |||
Disclosure of detailed information about intangible assets [Line Items] | |||
Other intangible assets | (451) | ||
Zentiva [member] | |||
Disclosure of detailed information about intangible assets [Line Items] | |||
Other intangible assets | € 92 | 128 | 187 |
Useful lives or amortisation rates, intangible assets other than goodwill | 9 years | ||
Residual amortization period (years) | yr | 4 | ||
Zentiva [member] | Gross value [Member] | |||
Disclosure of detailed information about intangible assets [Line Items] | |||
Other intangible assets | € 961 | ||
Zentiva [member] | Accumulated depreciation and amortisation [Member] | |||
Disclosure of detailed information about intangible assets [Line Items] | |||
Other intangible assets | (869) | ||
Principal Marketed Products Protein Sciences [Member] | |||
Disclosure of detailed information about intangible assets [Line Items] | |||
Other intangible assets | € 744 | ||
Useful lives or amortisation rates, intangible assets other than goodwill | 13 years | ||
Residual amortization period (years) | yr | 13 | ||
Principal Marketed Products Protein Sciences [Member] | Gross value [Member] | |||
Disclosure of detailed information about intangible assets [Line Items] | |||
Other intangible assets | € 765 | ||
Principal Marketed Products Protein Sciences [Member] | Accumulated depreciation and amortisation [Member] | |||
Disclosure of detailed information about intangible assets [Line Items] | |||
Other intangible assets | (21) | ||
Principal marketed products [member] | |||
Disclosure of detailed information about intangible assets [Line Items] | |||
Other intangible assets | 9,462 | € 7,162 | € 8,450 |
Principal marketed products [member] | Gross value [Member] | |||
Disclosure of detailed information about intangible assets [Line Items] | |||
Other intangible assets | 49,221 | ||
Principal marketed products [member] | Accumulated depreciation and amortisation [Member] | |||
Disclosure of detailed information about intangible assets [Line Items] | |||
Other intangible assets | € (39,759) |
Goodwill and Other Intangibl115
Goodwill and Other Intangible Assets - Detailed Information for Principal Marketed Products (Parenthetical) (Detail) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of detailed information about intangible assets [Abstract] | |
Weighted average amortization period | 1 and 25 years |
Goodwill and Other Intangibl116
Goodwill and Other Intangible Assets - Amortization of Softwares Recognized in Income Statement (Detail) - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Disclosure of detailed information about intangible assets [Line Items] | |||||
Cost of sales | [1] | € 11,611 | € 10,702 | € 10,919 | [2] |
Research and development expenses | [1] | 5,472 | 5,172 | 5,082 | [2] |
Selling and general expenses | [1] | 10,058 | 9,486 | 9,382 | [2] |
Other operating expenses | [1] | 233 | 482 | 462 | [2] |
Amortization of intangible assets | [1] | (1,866) | (1,692) | (2,137) | [2] |
Amortization of computer software and other rights of an industrial or operational nature [member] | |||||
Disclosure of detailed information about intangible assets [Line Items] | |||||
Cost of sales | 28 | 28 | 25 | ||
Research and development expenses | 22 | 16 | 13 | ||
Selling and general expenses | 53 | 56 | 52 | ||
Other operating expenses | 9 | 5 | 4 | ||
Amortization of intangible assets | € 112 | € 105 | € 94 | ||
[1] | The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36. | ||||
[2] | Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.). |
Impairment of Intangible Ass117
Impairment of Intangible Assets and Property, Plant and Equipment - Schedule of Allocation of Goodwill (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of reconciliation of changes in goodwill [Line Items] | |||
Goodwill | € 40,264 | € 40,287 | € 39,557 |
Pharmaceuticals [Member] | |||
Disclosure of reconciliation of changes in goodwill [Line Items] | |||
Goodwill | 32,437 | ||
Consumer Healthcare [Member] | |||
Disclosure of reconciliation of changes in goodwill [Line Items] | |||
Goodwill | 6,525 | ||
Vaccines [Member] | |||
Disclosure of reconciliation of changes in goodwill [Line Items] | |||
Goodwill | € 1,302 |
Impairment of Intangible Ass118
Impairment of Intangible Assets and Property, Plant and Equipment - Additional Information (Detail) - EUR (€) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of impairment loss and reversal of impairment loss [Line Items] | |||
Impairment of goodwill recognized | € 0 | ||
Discount rate | 1.30% | ||
Perpetual growth rate | 2.70% | ||
Operating margin rate | 3.80% | ||
Impairment loss reclassified to net income loss of the held for exchange Animal Health business | € 3,000,000 | ||
Bottom of range [Member] | |||
Disclosure of impairment loss and reversal of impairment loss [Line Items] | |||
After-tax discount rates | 7.00% | ||
Top of range [Member] | |||
Disclosure of impairment loss and reversal of impairment loss [Line Items] | |||
After-tax discount rates | 12.10% | ||
Other Intangible Assets [Member] | |||
Disclosure of impairment loss and reversal of impairment loss [Line Items] | |||
Impairment loss on intangible assets other than goodwill | € 310,000,000 | € 192,000,000 | 767,000,000 |
Cost of sales [Member] | |||
Disclosure of impairment loss and reversal of impairment loss [Line Items] | |||
Impairment loss on intangible assets other than goodwill | € 17,000,000 | ||
Cash-generating units [Member] | CGUs [Member] | |||
Disclosure of impairment loss and reversal of impairment loss [Line Items] | |||
Uniform impairment testing percentage | 7.30% | ||
Uniform pre-tax discount rates | 10.50% | ||
Pharmaceuticals [Member] | Goodwill [member] | |||
Disclosure of impairment loss and reversal of impairment loss [Line Items] | |||
Perpetual growth rates applied to future cash flows | 0.00% | ||
Pharmaceuticals [Member] | Other Intangible Assets [Member] | Marketed Products [Member] | |||
Disclosure of impairment loss and reversal of impairment loss [Line Items] | |||
Impairment loss on intangible assets other than goodwill | € 23,000,000 | 134,000,000 | 427,000,000 |
Pharmaceuticals [Member] | Cash-generating units [Member] | CGUs [Member] | |||
Disclosure of impairment loss and reversal of impairment loss [Line Items] | |||
Rate used for Impairment of goodwill | 7.25% | ||
Pre-tax discount rates | 10.50% | ||
Consumer Healthcare [Member] | Goodwill [member] | |||
Disclosure of impairment loss and reversal of impairment loss [Line Items] | |||
Perpetual growth rates applied to future cash flows | 2.00% | ||
Consumer Healthcare [Member] | Cash-generating units [Member] | CGUs [Member] | |||
Disclosure of impairment loss and reversal of impairment loss [Line Items] | |||
Rate used for Impairment of goodwill | 7.50% | ||
Pre-tax discount rates | 10.10% | ||
Vaccines [Member] | Other Intangible Assets [Member] | Marketed Products [Member] | |||
Disclosure of impairment loss and reversal of impairment loss [Line Items] | |||
Impairment loss on intangible assets other than goodwill | € 190,000,000 | ||
Vaccines [Member] | Cash-generating units [Member] | CGUs [Member] | |||
Disclosure of impairment loss and reversal of impairment loss [Line Items] | |||
Rate used for Impairment of goodwill | 7.25% | ||
Pre-tax discount rates | 10.80% | ||
Pharmaceuticals and Vaccines Segment [Member] | Other Intangible Assets [Member] | Research and Development [Member] | |||
Disclosure of impairment loss and reversal of impairment loss [Line Items] | |||
Impairment loss on intangible assets other than goodwill | € 79,000,000 | € 58,000,000 | € 340,000,000 |
Vaccines [Member] | Goodwill [member] | |||
Disclosure of impairment loss and reversal of impairment loss [Line Items] | |||
Perpetual growth rates applied to future cash flows | 0.50% |
Investments in Associates and J
Investments in Associates and Joint Ventures - Summary of Investments in Associates and Joint Ventures (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of transactions between related parties [Line Items] | |||
Investments in associates | € 2,863 | € 2,890 | € 2,676 |
Regeneron Pharmaceuticals, Inc. [Member] | |||
Disclosure of transactions between related parties [Line Items] | |||
Proportion of voting rights held in associate | 22.20% | ||
Investments in associates | € 2,512 | 2,548 | 2,245 |
Onduo LLC [Member] | |||
Disclosure of transactions between related parties [Line Items] | |||
Proportion of voting rights held in associate | 50.00% | ||
Investments in associates | € 141 | 181 | |
Sanofi Pasteur MSD [Member] | |||
Disclosure of transactions between related parties [Line Items] | |||
Investments in associates | 252 | ||
Infraserv Gmbh and Co Hochst KG [member] | |||
Disclosure of transactions between related parties [Line Items] | |||
Proportion of voting rights held in associate | 31.20% | ||
Investments in associates | € 73 | 79 | 85 |
Entities and companies managed by Bristol Mayers Squibb [member] | |||
Disclosure of transactions between related parties [Line Items] | |||
Proportion of voting rights held in associate | 49.90% | ||
Investments in associates | € 38 | 44 | 43 |
Other investments [Member] | |||
Disclosure of transactions between related parties [Line Items] | |||
Investments in associates | € 99 | € 38 | € 51 |
Investments in Associates an120
Investments in Associates and Joint Ventures - Summary of Share of Profit or Loss and Other Comprehensive Income of Associates and Joint Ventures (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Joint ventures [Member] | |||
Disclosure of transactions between related parties [Line Items] | |||
Share of profit/(loss) from investments accounted for using the equity method(a) | € 20 | € 20 | € 31 |
Share of other comprehensive income from investments accounted for using the equity method | 22 | (3) | 1 |
Total | 42 | 17 | 32 |
Associates [Member] | |||
Disclosure of transactions between related parties [Line Items] | |||
Share of profit/(loss) from investments accounted for using the equity method(a) | 84 | 114 | (53) |
Share of other comprehensive income from investments accounted for using the equity method | (303) | 58 | 235 |
Total | € (219) | € 172 | € 182 |
Investments in Associates an121
Investments in Associates and Joint Ventures - Summary of Principal Transactions and Balances with Related Parties (Detail) - Associates and joint ventures [Member] - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of transactions between related parties [Line Items] | |||
Sales | € 33 | € 39 | € 218 |
Royalties and other income | 100 | 156 | 91 |
Accounts receivable and other receivables | 85 | 101 | 81 |
Purchases of goods and services, related party transactions | 777 | 708 | 762 |
Accounts payable | 197 | 161 | 196 |
Other liabilities | € 20 | € 65 | € 10 |
Investments in Associates an122
Investments in Associates and Joint Ventures - Additional Information (Detail) € in Millions | 12 Months Ended | |||||
Dec. 31, 2017EUR (€) | Dec. 31, 2017$ / shares | Dec. 31, 2016EUR (€) | Dec. 31, 2016$ / shares | Dec. 31, 2015EUR (€) | Dec. 31, 2015$ / shares | |
Disclosure of transactions between related parties [Line Items] | ||||||
interest rate description | Under the terms of the investment agreement signed at the start of 2014, Sanofi is required to compute the level of its ownership interest in Regeneron on a quarterly basis, and to maintain that interest at a level no lower than the highest percentage previously achieved in order to retain a designee on the Regeneron Board of Directors. Once Sanofi's ownership interest passes 25%, the minimum interest requirement is fixed at 25%. An amendment to that agreement was signed on January 8, 2018 (see Note G/). | |||||
Associates and joint ventures [Member] | ||||||
Disclosure of transactions between related parties [Line Items] | ||||||
Funding commitments to associates and joint ventures | € 135 | |||||
Regeneron [Member] | ||||||
Disclosure of transactions between related parties [Line Items] | ||||||
Stock market price per share | $ / shares | $ 375.96 | $ 367.09 | $ 542.87 | |||
Market value of investment | € 7,487 | € 8,159 | € 11,523 |
Investments in Associates an123
Investments in Associates and Joint Ventures - Summary of Financial Statements of Regeneron, After Adjustments To Comply With IFRS But Before Fair Value Remeasurements (Detail) - EUR (€) € in Millions | 12 Months Ended | |||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |||
Disclosure of transactions between related parties [Line Items] | ||||||
Net income/(loss) for the period | [1] | € 8,555 | € 4,800 | € 4,388 | [2] | |
Other comprehensive income for the period, net of taxes | (2,681) | 928 | 2,360 | |||
Comprehensive income/(loss) | 5,874 | 5,728 | 6,748 | |||
Non-current assets | 73,440 | 71,564 | 71,641 | |||
TOTAL ASSETS | 99,826 | 104,672 | 102,321 | |||
Non-current liabilities | 26,111 | 29,319 | 26,303 | |||
Total equity | 58,258 | 57,724 | 58,210 | € 56,268 | ||
Regeneron [Member] | ||||||
Disclosure of transactions between related parties [Line Items] | ||||||
Net sales and other revenues | 5,200 | 4,393 | 3,698 | |||
Net income/(loss) for the period | 815 | 714 | 232 | |||
Other comprehensive income for the period, net of taxes | 12 | (19) | (39) | |||
Comprehensive income/(loss) | 827 | 695 | 193 | |||
Current assets | 3,615 | 3,001 | 2,704 | |||
Non-current assets | 3,947 | 4,304 | 4,529 | |||
TOTAL ASSETS | 7,562 | 7,305 | 7,233 | |||
Current liabilities | 947 | 1,178 | 745 | |||
Non-current liabilities | 1,238 | 1,218 | 1,903 | |||
Total liabilities | 2,185 | 2,396 | 2,648 | |||
Total equity | € 5,377 | € 4,909 | € 4,585 | |||
[1] | The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36. | |||||
[2] | Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.). |
Investments in Associates an124
Investments in Associates and Joint Ventures - Summary of Reconciliation To Carrying Amount of Investment (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [Line Items] | |||
Share of equity attributable to Sanofi | € (58,089) | € (57,554) | € (58,049) |
Goodwill | 40,264 | 40,287 | 39,557 |
Carrying amount of the investment in Regeneron | € 2,863 | € 2,890 | € 2,676 |
Regeneron [Member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [Line Items] | |||
Percentage of interest in associate | 22.00% | 22.00% | 22.00% |
Share of equity attributable to Sanofi | € 1,193 | € 1,084 | € 1,012 |
Goodwill | 810 | 835 | 779 |
Fair value remeasurements of assets and liabilities at the acquisition date | 938 | 1,065 | 1,039 |
Other items | (429) | (436) | (585) |
Carrying amount of the investment in Regeneron | € 2,512 | € 2,548 | € 2,245 |
Other Non-current Assets - Summ
Other Non-current Assets - Summary of Other Non-current Assets (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of Other Noncurrent Assets [Abstract] | |||
Available-for-sale financial assets | € 2,182 | € 1,583 | € 1,609 |
Pre-funded pension obligations | 53 | 30 | 49 |
Long-term loans and advances and other non-current receivables | 730 | 776 | 671 |
Financial assets recognized under the fair value option | 336 | 329 | 276 |
Derivative financial assets | 63 | 102 | 120 |
Other non-current assets | € 3,364 | € 2,820 | € 2,725 |
Other Non-Current Assets - Addi
Other Non-Current Assets - Additional Information (Detail) - EUR (€) € in Millions | Oct. 06, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure Of Other Non Current Assets [Line Items] | ||||
Percentage of decrease in share price | 48.00% | |||
Impairment loss on financial assets | € 7 | € 487 | € 50 | |
Non-current financial assets available-for-sale | € 2,182 | 1,583 | 1,609 | |
Decline percentage in stock prices of quoted equity investments | 10.00% | |||
Decline percentage in quoted market prices | 10.00% | |||
Yield rate | 0.50% | |||
Gains (losses) on financial assets measured at fair value through other comprehensive income, before tax | € 851 | 158 | 213 | |
Senior Bond [member] | ||||
Disclosure Of Other Non Current Assets [Line Items] | ||||
Financial assets held for investments | 199 | 100 | ||
Unquoted Equity Investments [Member] | ||||
Disclosure Of Other Non Current Assets [Line Items] | ||||
Non-current financial assets available-for-sale | € 123 | 112 | 102 | |
Other Available For Sale Financial Assets [Member] | Fair value of SPMSD contingent consideration [member] | ||||
Disclosure Of Other Non Current Assets [Line Items] | ||||
Increase in contingent consideration | 3.00% | |||
Securities quoted in an active market [Member] | Financial Assets Held To Meet Obligations Under Post-employment Benefit Plans [Member] | ||||
Disclosure Of Other Non Current Assets [Line Items] | ||||
Non-current financial assets available-for-sale | € 207 | € 372 | 353 | |
Securities quoted in an active market [Member] | Nichi-Iko Pharmaceuticals Co. Ltd. [Member] | ||||
Disclosure Of Other Non Current Assets [Line Items] | ||||
Non-current financial assets available-for-sale | 63 | |||
Securities quoted in an active market [Member] | Alnylam Pharmaceuticals, Inc [Member] | ||||
Disclosure Of Other Non Current Assets [Line Items] | ||||
Percentage of decrease in share price | 48.00% | |||
Impairment loss on financial assets | € 457 | |||
Non-current financial assets available-for-sale | 1,118 | 364 | € 869 | |
Securities quoted in an active market [Member] | Voyager Therapeutics, Inc [Member] | ||||
Disclosure Of Other Non Current Assets [Line Items] | ||||
Non-current financial assets available-for-sale | € 34 | 30 | ||
Equity investment | 8.00% | |||
Securities quoted in an active market [Member] | MyoKardia, Inc [Member] | ||||
Disclosure Of Other Non Current Assets [Line Items] | ||||
Non-current financial assets available-for-sale | € 141 | 45 | ||
Equity investment | 11.00% | |||
Securities quoted in an active market [Member] | JHL Biotech, Inc [Member] | ||||
Disclosure Of Other Non Current Assets [Line Items] | ||||
Non-current financial assets available-for-sale | € 49 | 58 | ||
Equity investment | 13.00% | |||
SPMSD contingent consideration asset [member] | ||||
Disclosure Of Other Non Current Assets [Line Items] | ||||
Fair value of the contingent consideration | € 342 | € 458 | ||
Non-current asset [member] | Fair value of SPMSD contingent consideration [member] | ||||
Disclosure Of Other Non Current Assets [Line Items] | ||||
Fair value of the contingent consideration | 292 | |||
Fair value remeasurement of contingent consideration [member] | Revisions of sales forecasts of SPMSD [member] | ||||
Disclosure Of Other Non Current Assets [Line Items] | ||||
Adjustment to the fair value of the assets | 145 | |||
Professional Specialized Investment Fund [member] | ||||
Disclosure Of Other Non Current Assets [Line Items] | ||||
Amortized cost of financial assets | € 105 |
Other Non-current Assets - S127
Other Non-current Assets - Summary of Stock Prices of Quoted Equity Investments Classified as Available-for-sale Financial Assets (Detail) - Sensitivity To Ten Percent Decline In Stock Prices Of Quoted Equity Investments Classified As AFS [Member] € in Millions | 12 Months Ended |
Dec. 31, 2017EUR (€) | |
Disclosure of Other Available-for-Sale Financial Assets [Line items] | |
Other comprehensive income before tax | € (156) |
Income before tax | (1) |
Total | € (157) |
Other Non-current Assets - S128
Other Non-current Assets - Summary of Decline in the Quoted Market Prices of Other Available-for-sale Financial Assets (Detail) - Sensitivity To Ten Percent In The Quoted Market Prices Of Other AFS [Member] € in Millions | 12 Months Ended |
Dec. 31, 2017EUR (€) | |
Disclosure of Other Available-for-Sale Financial Assets [Line items] | |
Other comprehensive income before tax | € (13) |
Income before tax | 0 |
Total | € (13) |
Other Non-current Assets - S129
Other Non-current Assets - Summary of Decline in the Quoted Market Prices of Other Available-for-sale Financial Assets (Parenthetical) (Detail) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of other available-for-sale financial assets [abstract] | |
Asset percentage involved | 3.80% |
Assets Held for Sale or Exchang
Assets Held for Sale or Exchange and Liabilities Related to Assets Held for Sale or Exchange - Summary of Assets Held for Sale or Exchange, and Liabilities Related to Assets Held for Sale or Exchange (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Assets and Liabilities Held for Sale [Line Items] | |||
Assets held for sale or exchange | € 34 | € 6,421 | € 5,752 |
Liabilities related to assets held for sale or exchange | 1,195 | 983 | |
Animal Health Business [Member] | |||
Assets and Liabilities Held for Sale [Line Items] | |||
Assets held for sale or exchange | 6,376 | 5,626 | |
Liabilities related to assets held for sale or exchange | 1,165 | 983 | |
Other discontinued operations [Member] | |||
Assets and Liabilities Held for Sale [Line Items] | |||
Assets held for sale or exchange | € 34 | 45 | € 126 |
Liabilities related to assets held for sale or exchange | € 30 |
Inventories - Schedule of Inven
Inventories - Schedule of Inventories (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of inventories [line items] | |||
Raw materials | € 962 | € 949 | € 960 |
Work in process | 3,692 | 3,802 | 3,482 |
Finished goods | 2,162 | 2,141 | 2,074 |
Total | 6,816 | 6,892 | 6,516 |
Gross value [Member] | |||
Disclosure of inventories [line items] | |||
Raw materials | 1,041 | 1,053 | 1,050 |
Work in process | 4,348 | 4,512 | 4,043 |
Finished goods | 2,340 | 2,341 | 2,282 |
Total | 7,729 | 7,906 | 7,375 |
Writedown [Member] | |||
Disclosure of inventories [line items] | |||
Raw materials | (79) | (104) | (90) |
Work in process | (656) | (710) | (561) |
Finished goods | (178) | (200) | (208) |
Total | € (913) | € (1,014) | € (859) |
Inventories - Additional Inform
Inventories - Additional Information (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Classes of current inventories [Abstract] | |||
Inventories pledged as security for liabilities | € 18 | € 24 | € 25 |
Accounts Receivable - Summary o
Accounts Receivable - Summary of Accounts Receivable (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure Of Accounts Receivable [line items] | |||
Accounts receivable | € 7,216 | € 7,311 | € 7,386 |
Gross value [Member] | |||
Disclosure Of Accounts Receivable [line items] | |||
Accounts receivable | 7,405 | 7,506 | 7,553 |
Allowances [Member] | |||
Disclosure Of Accounts Receivable [line items] | |||
Accounts receivable | € (189) | € (195) | € (167) |
Accounts Receivable - Additiona
Accounts Receivable - Additional Information (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure Of Accounts Receivable [line items] | |||
Impairment loss recognised in profit or loss, trade receivables | € 27 | € 32 | € 53 |
Gross value of overdue receivables | 644 | 597 | 677 |
Derecognized receivables | 437 | € 428 | € 414 |
United States [Member] | |||
Disclosure Of Accounts Receivable [line items] | |||
Derecognized receivables | 230 | ||
Japan [Member] | |||
Disclosure Of Accounts Receivable [line items] | |||
Derecognized receivables | € 197 |
Accounts Receivable - Summar135
Accounts Receivable - Summary of Gross Value of Overdue Receivables (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of financial assets that are either past due or impaired [Line Items] | |||
Overdue receivables gross value | € 644 | € 597 | € 677 |
Less than 1 Month [member] | |||
Disclosure of financial assets that are either past due or impaired [Line Items] | |||
Overdue receivables gross value | 247 | 133 | 171 |
1 to 3 Months [Member] | |||
Disclosure of financial assets that are either past due or impaired [Line Items] | |||
Overdue receivables gross value | 143 | 103 | 147 |
3 to 6 Months [Member] | |||
Disclosure of financial assets that are either past due or impaired [Line Items] | |||
Overdue receivables gross value | 113 | 121 | 117 |
6 to 12 Months [Member] | |||
Disclosure of financial assets that are either past due or impaired [Line Items] | |||
Overdue receivables gross value | 48 | 42 | 83 |
Greater than 12 Months [Member] | |||
Disclosure of financial assets that are either past due or impaired [Line Items] | |||
Overdue receivables gross value | € 93 | € 198 | € 159 |
Other Current Assets - Schedule
Other Current Assets - Schedule of Other Current Assets (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Other Current Assets [abstract] | |||
Taxes recoverable | € 832 | € 1,034 | € 1,006 |
Other receivables | 627 | 705 | 461 |
Prepaid expenses | 336 | 333 | 300 |
Interest rate derivatives measured at fair value | 3 | 39 | |
Currency derivatives measured at fair value | 133 | 105 | 59 |
Other current financial assets | 77 | 31 | 13 |
Total | € 2,005 | € 2,211 | € 1,878 |
Financial Assets and Liabili137
Financial Assets and Liabilities Measured at Fair Value - Summary of Assets and Liabilities Measured at Fair Value (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Level 1 [Member] | |||
Disclosure Of Information On Income Statement [Line Items] | |||
Financial assets | € 9,310 | € 7,552 | € 6,825 |
Financial liabilities | 75 | 85 | 24 |
Level 1 [Member] | Quoted Equity Investments [Member] | |||
Disclosure Of Information On Income Statement [Line Items] | |||
Financial assets | 1,568 | 900 | 1,451 |
Level 1 [Member] | Quoted Debt Securities [Member] | |||
Disclosure Of Information On Income Statement [Line Items] | |||
Financial assets | 199 | 113 | 56 |
Level 1 [Member] | Financial Assets Recognized Under the Fair Value Option [Member] | |||
Disclosure Of Information On Income Statement [Line Items] | |||
Financial assets | 336 | 329 | 276 |
Level 1 [Member] | Mutual Fund Investments [Member] | |||
Disclosure Of Information On Income Statement [Line Items] | |||
Financial assets | 7,207 | 6,210 | 5,042 |
Level 1 [Member] | CVRs Issued in Connection with the Acquisition of Genzyme [Member] | |||
Disclosure Of Information On Income Statement [Line Items] | |||
Financial liabilities | 75 | 85 | 24 |
Level 2 [Member] | |||
Disclosure Of Information On Income Statement [Line Items] | |||
Financial assets | 196 | 210 | 218 |
Financial liabilities | 74 | 132 | 85 |
Level 2 [Member] | Non-current Derivatives [Member] | |||
Disclosure Of Information On Income Statement [Line Items] | |||
Financial assets | 63 | 102 | 120 |
Level 2 [Member] | Current Derivatives [Member] | |||
Disclosure Of Information On Income Statement [Line Items] | |||
Financial assets | 133 | 108 | 98 |
Level 2 [Member] | Non-current Derivatives [Member] | |||
Disclosure Of Information On Income Statement [Line Items] | |||
Financial liabilities | 16 | 3 | |
Level 2 [Member] | Current Derivatives [Member] | |||
Disclosure Of Information On Income Statement [Line Items] | |||
Financial liabilities | 58 | 132 | 82 |
Level 3 [Member] | |||
Disclosure Of Information On Income Statement [Line Items] | |||
Financial assets | 465 | 570 | 102 |
Financial liabilities | 1,294 | 1,491 | 1,227 |
Level 3 [Member] | Unquoted Equity Investments [Member] | |||
Disclosure Of Information On Income Statement [Line Items] | |||
Financial assets | 123 | 112 | 102 |
Level 3 [Member] | Liabilities Related to Non-controlling Interests [Member] | |||
Disclosure Of Information On Income Statement [Line Items] | |||
Financial assets | 342 | 458 | |
Level 3 [Member] | Bayer Contingent Purchase Consideration Arising from the Acquisition of Genzyme [Member] | |||
Disclosure Of Information On Income Statement [Line Items] | |||
Financial liabilities | 701 | 1,013 | 1,040 |
Level 3 [Member] | MSD Contingent Consideration European Vaccines Business [Member] | |||
Disclosure Of Information On Income Statement [Line Items] | |||
Financial liabilities | 420 | 354 | |
Level 3 [Member] | Other Contingent Consideration Arising From Business Combinations [Member] | |||
Disclosure Of Information On Income Statement [Line Items] | |||
Financial liabilities | 81 | 1 | 6 |
Level 3 [Member] | Liabilities Related to Non-Controlling Interests [member] | |||
Disclosure Of Information On Income Statement [Line Items] | |||
Financial liabilities | € 92 | € 123 | € 181 |
Financial Assets and Liabili138
Financial Assets and Liabilities Measured at Fair Value - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2017EUR (€) | |
Disclosure Of Information On Income Statement [Line Items] | |
Transfers between the different levels of the fair value hierarchy | € 0 |
Sanofi Pasteur MSD [Member] | Contingent Consideration Relating to Divestments [Member] | |
Disclosure Of Information On Income Statement [Line Items] | |
Financial assets measured at fair value | 342,000,000 |
Sanofi Pasteur MSD [Member] | Other Contingent Consideration Arising From Business Combinations [Member] | |
Disclosure Of Information On Income Statement [Line Items] | |
Financial liabilities measured at fair value | € 420,000,000 |
Cash and Cash Equivalents - Sum
Cash and Cash Equivalents - Summary of Cash and Cash Equivalents (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Cash and cash equivalents [Abstract] | |||||
Cash | € 472 | € 1,077 | € 1,361 | ||
Cash equivalents | 9,843 | 9,196 | 7,787 | ||
Cash and cash equivalents | [1] | € 10,315 | € 10,273 | € 9,148 | € 7,341 |
[1] | For 2015 and 2016, cash flows of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations). For 2017, all of the cash flows generated from the exchange of the Animal Health business for the Consumer Healthcare business of Boehringer Ingelheim (BI) are described in note (i) below. |
Cash and Cash Equivalents - 140
Cash and Cash Equivalents - Summary of Cash and Cash Equivalents (Parenthetical) (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Cash and cash equivalents [Abstract] | |||
Cash equivalents, money market mutual funds | € 7,207 | € 6,210 | € 5,042 |
Cash equivalents, term deposits | 1,346 | 1,469 | 1,594 |
Cash equivalents, commercial paper | 505 | 617 | 461 |
Cash equivalent, captive insurance and reinsurance companies | € 556 | € 553 | € 385 |
Net Deferred Tax Position - Sum
Net Deferred Tax Position - Summary of Net Deferred Tax Position (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Deferred tax assets (liabilities) | € 2,685 | € 2,377 | € 1,819 |
Consolidation adjustments (intragroup margin in inventory) [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Deferred tax assets (liabilities) | 969 | 1,095 | 1,074 |
Provision for pensions and other employee benefits [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Deferred tax assets (liabilities) | 1,263 | 1,538 | 1,522 |
Remeasurement of other acquired intangible assets [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Deferred tax assets (liabilities) | (1,713) | (2,797) | (3,370) |
Recognition of acquired property, plant and equiment at fair value [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Deferred tax assets (liabilities) | (36) | (44) | (48) |
Equity interests in subsidiaries and investments in other entities [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Deferred tax assets (liabilities) | (592) | (818) | (833) |
Tax losses available for carry-forward [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Deferred tax assets (liabilities) | 1,059 | 1,070 | 1,162 |
Stock options and share-based payments [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Deferred tax assets (liabilities) | 88 | 126 | 131 |
Accrued expenses and provisions deductible at time of payments [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Deferred tax assets (liabilities) | 1,344 | 2,202 | 2,061 |
Other [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Deferred tax assets (liabilities) | € 303 | € 5 | € 120 |
Net Deferred Tax Position - 142
Net Deferred Tax Position - Summary of Net Deferred Tax Position (Parenthetical) (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Deferred tax liabilities | € 1,605 | € 2,292 | € 2,895 |
Reserves likely to be distributed in the foreseeable future | 51,000 | ||
Deferred tax assets | 4,290 | 4,669 | 4,714 |
Remeasurement of other acquired intangible assets [Member] | Aventis [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Deferred tax liabilities | 176 | ||
Remeasurement of other acquired intangible assets [Member] | Genzyme [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Deferred tax liabilities | 929 | ||
Deferred Tax Relating To Restructuring Provisions [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Deferred tax assets | € 212 | € 334 | € 394 |
Net Deferred Tax Position - Add
Net Deferred Tax Position - Additional information (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Deferred tax expense (income) [Abstract] | |||
Temporary differences associated with investments in subsidiaries, branches and associates and interests in joint arrangements for which deferred tax liabilities have not been recognised | € 16,800 | € 25,200 | € 23,900 |
Total deferred tax assets for tax loss carryforwards | 1,346 | 1,502 | 1,721 |
Unused tax losses for which no deferred tax asset recognised | 287 | 431 | 559 |
Deferred tax assets not recognized as future recovery not probable | € 302 | € 561 | € 666 |
Net Deferred Tax Position - 144
Net Deferred Tax Position - Summary of Tax Losses Available for Carry-forward (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure Of Tax Losses Available For Carryforward [Line Items] | |||
Tax losses available for carry-forward | € 5,164 | € 5,176 | € 5,209 |
Tax loss carry-forwards on asset disposals | 7 | € 13 | € 0 |
Less than 1 year [Member] | |||
Disclosure Of Tax Losses Available For Carryforward [Line Items] | |||
Tax losses available for carry-forward | 33 | ||
Later Than One Year and Not Later Than Two Years [Member] | |||
Disclosure Of Tax Losses Available For Carryforward [Line Items] | |||
Tax losses available for carry-forward | 6 | ||
Later Than Two Years and Not Later Than Three Years [Member] | |||
Disclosure Of Tax Losses Available For Carryforward [Line Items] | |||
Tax losses available for carry-forward | 24 | ||
Later Than Three Years and Not Later Than Four Years [Member] | |||
Disclosure Of Tax Losses Available For Carryforward [Line Items] | |||
Tax losses available for carry-forward | 55 | ||
Later Than Four Years and Not Later Than Five Years [Member] | |||
Disclosure Of Tax Losses Available For Carryforward [Line Items] | |||
Tax losses available for carry-forward | 43 | ||
More Than 5 Years [Member] | |||
Disclosure Of Tax Losses Available For Carryforward [Line Items] | |||
Tax losses available for carry-forward | € 5,003 |
Consolidated Shareholders' E145
Consolidated Shareholders' Equity - Additional Information (Detail) | May 10, 2017€ / shares | Mar. 05, 2017EUR (€) | Mar. 02, 2017€ / shares | May 04, 2016€ / shares | Mar. 03, 2016€ / shares | Jun. 24, 2015€ / shares | Dec. 31, 2017EUR (€)yr€ / sharesshares | Dec. 31, 2016EUR (€)shares | Dec. 31, 2015EUR (€)shares |
Disclosure of classes of share capital [Line Items] | |||||||||
Share capital | € 2,508,039,808 | ||||||||
Number of shares | shares | 1,254,019,904 | ||||||||
Par value per share | € / shares | € 2 | ||||||||
Performance share unit (PSU) plan, vesting period description | Vesting at the end of a three-year service period and subject to performance conditions. | ||||||||
Hedges of net investments in foreign operations | € 66,000,000 | € 66,000,000 | |||||||
Currency translation differences | 144,000,000 | € 195,000,000 | |||||||
Weighted average period | 2 years 6 months | ||||||||
Share based compensation arrangement by share based payment current tax benefit | € 6,000,000 | € 2,000,000 | € 12,000,000 | ||||||
Number of stock option not taken for computing diluted earning per share | shares | 800,000 | 2,400,000 | 400,000 | ||||||
May 10, 2017 [member] | |||||||||
Disclosure of classes of share capital [Line Items] | |||||||||
Period of share repurchase program | 18 months | ||||||||
Number of shares repurchased | shares | 8,428,935 | ||||||||
Amount of shares repurchased | € 702,000,000 | ||||||||
May 4, 2016 [member] | |||||||||
Disclosure of classes of share capital [Line Items] | |||||||||
Period of share repurchase program | 18 months | ||||||||
Number of shares repurchased | shares | 18,426,601 | 19,947,202 | |||||||
Amount of shares repurchased | € 1,453,000,000 | € 1,503,000,000 | |||||||
May 4, 2015 [member] | |||||||||
Disclosure of classes of share capital [Line Items] | |||||||||
Period of share repurchase program | 18 months | ||||||||
Number of shares repurchased | shares | 18,764,233 | 6,527,368 | |||||||
Amount of shares repurchased | € 1,402,000,000 | € 551,000,000 | |||||||
Liquidity Contract [Member] | |||||||||
Disclosure of classes of share capital [Line Items] | |||||||||
Amount of shares repurchased | € 4,000,000 | ||||||||
Restricted shares [Member] | |||||||||
Disclosure of classes of share capital [Line Items] | |||||||||
Number of restricted shares not yet fully vested | shares | 12,867,519 | 13,543,254 | 14,076,259 | ||||||
Restricted shares [Member] | Continuing operations [Member] | |||||||||
Disclosure of classes of share capital [Line Items] | |||||||||
Expense recognized for capital increases plans | € 238,000,000 | € 219,000,000 | € 187,000,000 | ||||||
Restricted share plan 2017 [Member] | |||||||||
Disclosure of classes of share capital [Line Items] | |||||||||
Number of restricted shares not yet fully vested | shares | 3,468,576 | ||||||||
Restricted share plan 2016 [Member] | |||||||||
Disclosure of classes of share capital [Line Items] | |||||||||
Number of restricted shares not yet fully vested | shares | 3,798,073 | ||||||||
Restricted share plan 2015 [Member] | |||||||||
Disclosure of classes of share capital [Line Items] | |||||||||
Number of restricted shares not yet fully vested | shares | 3,438,420 | ||||||||
Restricted share plan 2014 [member] | |||||||||
Disclosure of classes of share capital [Line Items] | |||||||||
Number of restricted shares not yet fully vested | shares | 2,162,450 | ||||||||
Performance Share Unit Plan [Member] | |||||||||
Disclosure of classes of share capital [Line Items] | |||||||||
Expense recognized for capital increases plans | € 27,000,000 | ||||||||
Employees share ownership plan [member] | March 2, 2017 [member] | |||||||||
Disclosure of classes of share capital [Line Items] | |||||||||
Option to subscribe capital increases per share | € / shares | € 70.01 | ||||||||
Percentage of average of quoted market prices of shares | 80.00% | ||||||||
Description of capital increases subscription period | Open from June 19 through June 30, 2017. | ||||||||
Capital increases plan shares being subscribed | shares | 1,528,982 | ||||||||
Further issuance of shares as employers contribution | shares | 92,116 | ||||||||
Employees share ownership plan [member] | March 3, 2016 [member] | |||||||||
Disclosure of classes of share capital [Line Items] | |||||||||
Option to subscribe capital increases per share | € / shares | € 57.25 | ||||||||
Percentage of average of quoted market prices of shares | 80.00% | ||||||||
Description of capital increases subscription period | Open from June 13 through June 24, 2016. | ||||||||
Capital increases plan shares being subscribed | shares | 1,756,972 | ||||||||
Further issuance of shares as employers contribution | shares | 47,014 | ||||||||
Employees share ownership plan [member] | Continuing operations [Member] | March 2, 2017 [member] | |||||||||
Disclosure of classes of share capital [Line Items] | |||||||||
Expense recognized for capital increases plans | € 21,000,000 | ||||||||
Expense recognized for capital increases plans, for employer's contribution | 8,000,000 | ||||||||
Employees share ownership plan [member] | Continuing operations [Member] | March 3, 2016 [member] | |||||||||
Disclosure of classes of share capital [Line Items] | |||||||||
Expense recognized for capital increases plans | 16,000,000 | ||||||||
Expense recognized for capital increases plans, for employer's contribution | 3,000,000 | ||||||||
Stock subscription option plan [Member] | |||||||||
Disclosure of classes of share capital [Line Items] | |||||||||
Stock option granted | 378,040 | 402,750 | 435,000 | ||||||
Stock option exercise per share | € / shares | € 88.97 | € 75.90 | € 89.38 | ||||||
Stock option option vesting period | 4 years | 4 years | 4 years | ||||||
Stock option expire date | May 10, 2027 | May 4, 2026 | Jun. 24, 2025 | ||||||
Increase in shareholders equity due to exercise of stock purchase option | 470,000,000 | ||||||||
Stock subscription option plan [Member] | May 10, 2017 [member] | |||||||||
Disclosure of classes of share capital [Line Items] | |||||||||
Expense recognized for capital increases plans, for employer's contribution | 700,000 | ||||||||
Fair value of stock subscription option plan awarded | € 5,000,000 | ||||||||
Assumption dividend yield | 3.56% | ||||||||
Volatility rate | 23.74% | ||||||||
Risk free interest rate | 0.27% | ||||||||
Plan maturity | yr | 7 | ||||||||
Fair value per option awarded | € / shares | € 12.21 | ||||||||
Stock subscription option plan [Member] | May 4, 2016 [member] | |||||||||
Disclosure of classes of share capital [Line Items] | |||||||||
Fair value of stock subscription option plan awarded | 3,000,000 | ||||||||
Assumption dividend yield | 4.51% | ||||||||
Volatility rate | 24.54% | ||||||||
Risk free interest rate | 0.056% | ||||||||
Plan maturity | yr | 7 | ||||||||
Fair value per option awarded | € / shares | € 6.60 | ||||||||
Stock subscription option plan [Member] | May 4, 2015 [member] | |||||||||
Disclosure of classes of share capital [Line Items] | |||||||||
Fair value per option awarded | € / shares | € 16.12 | ||||||||
Stock subscription option plan [Member] | June 24, 2015 [member] | |||||||||
Disclosure of classes of share capital [Line Items] | |||||||||
Assumption dividend yield | 3.64% | ||||||||
Volatility rate | 27.52% | ||||||||
Risk free interest rate | 0.65% | ||||||||
Plan maturity | yr | 7 | ||||||||
Total stock option plans [Member] | |||||||||
Disclosure of classes of share capital [Line Items] | |||||||||
Expense recognized for capital increases plans | € 4,000,000 | 6,000,000 | 6,000,000 | ||||||
Total stock option plans [Member] | Continuing operations [Member] | |||||||||
Disclosure of classes of share capital [Line Items] | |||||||||
Unrecognized cost of unvested stock options | 8,000,000 | € 9,000,000 | € 12,000,000 | ||||||
Stock purchase option plan [member] | |||||||||
Disclosure of classes of share capital [Line Items] | |||||||||
Increase in shareholders equity due to exercise of stock purchase option | € 4,000,000 |
Consolidated Shareholders' E146
Consolidated Shareholders' Equity - Summary of Treasury Shares Held (Detail) - shares shares in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Jan. 01, 2015 |
Disclosure of classes of share capital [Abstract] | ||||
Number of shares held | 0.2 | 20 | 4 | 9.5 |
Percentage of share capital for the period | 0.01% | 1.55% | 0.30% | 0.72% |
Consolidated Shareholders' E147
Consolidated Shareholders' Equity - Summary of Movements Share Capital (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of classes of share capital [Line Items] | |||
Number of shares, end of period | 1,254,019,904 | ||
Balance, beginning of period | € 57,724 | € 58,210 | € 56,268 |
Balance, end of period | € 58,258 | € 57,724 | € 58,210 |
Sanofi [Member] | |||
Disclosure of classes of share capital [Line Items] | |||
Number of shares, beginning of period | 1,292,022,324 | 1,305,696,759 | 1,319,367,445 |
Number of shares in regard to capital increase by exercise of stock subscription options | 3,764,646 | 3,418,421 | 9,000,127 |
Number of restricted shares issued in regard of capital increase | 3,394,574 | 3,664,248 | 3,071,173 |
Board meeting | (18,482,786) | ||
Board meeting | (36,380,198) | ||
Board meeting | (22,561,090) | ||
Board meeting | (7,259,200) | ||
Board meeting | 1,621,098 | ||
Board meeting | 1,803,986 | ||
Board meeting | (10,402,540) | ||
Number of shares, end of period | 1,254,019,904 | 1,292,022,324 | 1,305,696,759 |
Reserve of equity component of convertible instruments [Member] | |||
Disclosure of classes of share capital [Line Items] | |||
Board meeting | € (616) | ||
Balance, end of period | (616) | ||
Additional paid-in capital [Member] | |||
Disclosure of classes of share capital [Line Items] | |||
Balance, beginning of period | 2,685 | € 4,039 | € 5,614 |
Share capital with regard to capital increase by exercise of stock subscription options | 215 | 212 | 555 |
Share capital with regard to capital increase by issuance of restricted shares | (7) | (7) | (6) |
Board meeting | (1,454) | ||
Board meeting | (2,709) | ||
Board meeting | (1,655) | ||
Board meeting | (670) | ||
Board meeting | 103 | ||
Board meeting | 96 | ||
Board meeting | (229) | ||
Balance, end of period | 58 | 2,685 | 4,039 |
Share Capital [Member] | |||
Disclosure of classes of share capital [Line Items] | |||
Balance, beginning of period | 2,584 | 2,611 | 2,639 |
Share capital with regard to capital increase by exercise of stock subscription options | 8 | 7 | 18 |
Share capital with regard to capital increase by issuance of restricted shares | 7 | 7 | 6 |
Board meeting | (37) | ||
Board meeting | (73) | ||
Board meeting | (45) | ||
Board meeting | (15) | ||
Board meeting | 3 | ||
Board meeting | 4 | ||
Board meeting | (21) | ||
Balance, end of period | € 2,508 | € 2,584 | € 2,611 |
Consolidated Shareholders' E148
Consolidated Shareholders' Equity - Principal Characteristics of Restricted Share Plans (Detail) € in Millions | 12 Months Ended | ||
Dec. 31, 2016EUR (€) | Dec. 31, 2015EUR (€) | Dec. 31, 2014EUR (€) | |
Restricted share plan 2017 [Member] | |||
Disclosure of classes of share capital [Line Items] | |||
Date of Board meeting approving the plan | May 10, 2017 | ||
Total number of shares awarded | 3,587,465 | ||
Of which plans subject to a 3-year service period | 3,587,465 | ||
Fair value per share awarded(a) | 81.50 | ||
Fair value of plan at the date of grant | € 292 | ||
Restricted share plan 2016 [Member] | |||
Disclosure of classes of share capital [Line Items] | |||
Date of Board meeting approving the plan | May 4, 2016 | ||
Total number of shares awarded | 4,097,925 | ||
Of which plans subject to a 3-year service period | 4,097,925 | ||
Fair value per share awarded(a) | 61.06 | ||
Fair value of plan at the date of grant | € 250 | ||
Restricted share plan 2015 [Member] | |||
Disclosure of classes of share capital [Line Items] | |||
Date of Board meeting approving the plan | June 24, 2015 | ||
Total number of shares awarded | 3,832,840 | ||
Of which plans subject to a 4-year service period | 2,546,420 | ||
Fair value per share awarded(a) | 79.52 | ||
Of which plans subject to a 3-year service period | 1,286,420 | ||
Fair value per share awarded(a) | 82.96 | ||
Fair value of plan at the date of grant | € 309 |
Consolidated Shareholders' E149
Consolidated Shareholders' Equity - Summary of Currency Translation Differences (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Disclosure of classes of share capital [Line Items] | ||||
Attributable to equity holders of Sanofi | € 58,089 | € 57,554 | € 58,049 | |
Attributable to non-controlling interests | 169 | 170 | 161 | |
Total equity | 58,258 | 57,724 | 58,210 | € 56,268 |
Reserve of exchange differences on translation [Member] | ||||
Disclosure of classes of share capital [Line Items] | ||||
Attributable to equity holders of Sanofi | (1,439) | 1,787 | 701 | |
Attributable to non-controlling interests | (32) | (18) | (22) | |
Total equity | € (1,471) | € 1,769 | € 679 |
Consolidated Shareholders' E150
Consolidated Shareholders' Equity - Summary of Movements within Other Comprehensive Income (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of analysis of other comprehensive income by item [Line Items] | |||
Balance, beginning of period | € 57,724 | € 58,210 | € 56,268 |
Balance, beginning of period | 57,554 | 58,049 | |
Balance, beginning of period | 170 | 161 | |
Tax effects (a) | (90) | (22) | (187) |
Items not subsequently reclassifiable to profit or loss | (118) | (128) | 465 |
Sub-total: items subsequently reclassifiable to profit or loss | (2,563) | 1,056 | 1,895 |
Balance, end of period | 58,258 | 57,724 | 58,210 |
Balance, end of period | 58,089 | 57,554 | 58,049 |
Balance, end of period | 169 | 170 | 161 |
Accumulated comprehensive income [Member] | |||
Disclosure of analysis of other comprehensive income by item [Line Items] | |||
Balance, beginning of period | 973 | 45 | (2,315) |
Balance, beginning of period | 992 | 67 | (2,287) |
Balance, beginning of period | (19) | (22) | (28) |
Actuarial gains/(losses) excluding investments accounted for using the equity method | (30) | (104) | 650 |
Actuarial gains/(losses) from investments accounted for using the equity method, net of taxes | 2 | (2) | 2 |
Tax effects (a) | (90) | (22) | (187) |
Items not subsequently reclassifiable to profit or loss | (118) | (128) | 465 |
Change in fair value (excluding investments accounted for using the equity method) (c) | 837 | (104) | (29) |
Change in fair value (investments accounted for using the equity method, net of taxes) | 1 | (1) | (8) |
Tax effects | (145) | 50 | 16 |
Change in fair value (excluding investments accounted for using the equity method) (d) | (24) | 30 | (3) |
Change in fair value (investments accounted for using the equity method, net of taxes) | 1 | ||
Tax effects | 8 | (10) | 1 |
Currency translation differences on foreign subsidiaries (excluding investments accounted for using the equity method) (d)/(e) | (2,956) | 1,033 | 1,681 |
Currency translation differences (investments accounted for using the equity method) | (284) | 57 | 243 |
Hedges of net investments in foreign operations | (9) | ||
Tax effects | 3 | ||
Sub-total: items subsequently reclassifiable to profit or loss | (2,563) | 1,056 | 1,895 |
Balance, end of period | (1,708) | 973 | 45 |
Balance, end of period | (1,674) | 992 | 67 |
Balance, end of period | € (34) | € (19) | € (22) |
Consolidated Shareholders' E151
Consolidated Shareholders' Equity - Summary of Movements within Other Comprehensive Income (Parenthetical) (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of analysis of other comprehensive income by item [Line Items] | |||
Other comprehensive income actuarial gain loss change in tax effect | € (127) | € (37) | |
Change in fair value (excluding associates and joint ventures) reconciliation to profit or loss | (89) | 447 | € (35) |
Currency translation differences on foreign subsidiaries (excluding associates and joint ventures) reclassified to profit or loss | (23) | 2 | (3) |
Animal Health Business [Member] | |||
Disclosure of analysis of other comprehensive income by item [Line Items] | |||
Change in fair value (associates and joint ventures, net of taxes) | (3) | (6) | |
Items subsequently reclassifiable to profit or loss | (170) | € (51) | € (92) |
Items subsequently reclassifiable to profit or loss currency transaction differences | € (147) |
Consolidated Shareholders' E152
Consolidated Shareholders' Equity - Summary of Stock Purchase Option Plans Still Outstanding or Options Exercised (Detail) | 12 Months Ended |
Dec. 31, 2017€ / shares | |
Disclosure of stock purchase option plan outstanding and option exercised [line items] | |
Number of options outstanding | 104,701 |
Stock Option Plan One [Member] | |
Disclosure of stock purchase option plan outstanding and option exercised [line items] | |
Date of grant | Mar. 30, 1999 |
Number of options granted | 716,040 |
Start date of exercise period | Mar. 31, 2004 |
Expiry date | Mar. 30, 2019 |
Exercise price | € 38.08 |
Number of options outstanding | 104,701 |
Consolidated Shareholders' E153
Consolidated Shareholders' Equity - Disclosure of Stock Subscription Option Plan Outstanding and Option Exercised (Detail) | 12 Months Ended |
Dec. 31, 2017€ / shares | |
Disclosure of stock subscription option plan outstanding and option exercised [Line Items] | |
Number of options outstanding | 104,701 |
Stock Subscription Option Plan One [Member] | |
Disclosure of stock subscription option plan outstanding and option exercised [Line Items] | |
Date of grant | Dec. 13, 2007 |
Number of options granted | 11,988,975 |
Start date of exercise period | Dec. 14, 2011 |
Expiry date | Dec. 13, 2017 |
Exercise price | € 62.33 |
Stock Subscription Option Plan Two [Member] | |
Disclosure of stock subscription option plan outstanding and option exercised [Line Items] | |
Number of options outstanding | 1,679,020 |
Date of grant | Mar. 2, 2009 |
Number of options granted | 7,736,480 |
Start date of exercise period | Mar. 4, 2013 |
Expiry date | Mar. 1, 2019 |
Exercise price | € 45.09 |
Stock Subscription Option Plan Three [Member] | |
Disclosure of stock subscription option plan outstanding and option exercised [Line Items] | |
Number of options outstanding | 2,726,260 |
Date of grant | Mar. 1, 2010 |
Number of options granted | 8,121,355 |
Start date of exercise period | Mar. 3, 2014 |
Expiry date | Feb. 28, 2020 |
Exercise price | € 54.12 |
Stock Subscription Option Plan Four [Member] | |
Disclosure of stock subscription option plan outstanding and option exercised [Line Items] | |
Number of options outstanding | 242,578 |
Date of grant | Mar. 9, 2011 |
Number of options granted | 874,500 |
Start date of exercise period | Mar. 10, 2015 |
Expiry date | Mar. 9, 2021 |
Exercise price | € 50.48 |
Stock Subscription Option Plan Five [Member] | |
Disclosure of stock subscription option plan outstanding and option exercised [Line Items] | |
Number of options outstanding | 528,001 |
Date of grant | Mar. 5, 2012 |
Number of options granted | 814,050 |
Start date of exercise period | Mar. 6, 2016 |
Expiry date | Mar. 5, 2022 |
Exercise price | € 56.44 |
Stock Subscription Option Plan Six [Member] | |
Disclosure of stock subscription option plan outstanding and option exercised [Line Items] | |
Number of options outstanding | 531,605 |
Date of grant | Mar. 5, 2013 |
Number of options granted | 788,725 |
Start date of exercise period | Mar. 6, 2017 |
Expiry date | Mar. 5, 2023 |
Exercise price | € 72.19 |
Stock Subscription Option Plan Seven [Member] | |
Disclosure of stock subscription option plan outstanding and option exercised [Line Items] | |
Number of options outstanding | 863,815 |
Date of grant | Mar. 5, 2014 |
Number of options granted | 1,009,250 |
Start date of exercise period | Mar. 6, 2018 |
Expiry date | Mar. 5, 2024 |
Exercise price | € 73.48 |
Stock Subscription Option Plan Eight [Member] | |
Disclosure of stock subscription option plan outstanding and option exercised [Line Items] | |
Number of options outstanding | 433,500 |
Date of grant | Jun. 24, 2015 |
Number of options granted | 435,000 |
Start date of exercise period | Jun. 25, 2019 |
Expiry date | Jun. 24, 2025 |
Exercise price | € 89.38 |
Stock Subscription Option Plan Nine [Member] | |
Disclosure of stock subscription option plan outstanding and option exercised [Line Items] | |
Number of options outstanding | 401,500 |
Date of grant | May 4, 2016 |
Number of options granted | 402,750 |
Start date of exercise period | May 5, 2020 |
Expiry date | May 4, 2026 |
Exercise price | € 75.90 |
Stock Subscription option Plan Ten [Member] | |
Disclosure of stock subscription option plan outstanding and option exercised [Line Items] | |
Number of options outstanding | 378,040 |
Date of grant | May 10, 2017 |
Number of options granted | 378,040 |
Start date of exercise period | May 11, 2021 |
Expiry date | May 10, 2027 |
Exercise price | € 88.97 |
Stock subscription option plan [Member] | |
Disclosure of stock subscription option plan outstanding and option exercised [Line Items] | |
Number of options outstanding | 7,784,319 |
Consolidated Shareholders' E154
Consolidated Shareholders' Equity - Summary of Stock Options Outstanding at Each Balance Sheet Date (Detail) - Total stock option plans [Member] | 12 Months Ended | |||
Dec. 31, 2017EUR (€)shares | Dec. 31, 2016EUR (€)shares | Dec. 31, 2015EUR (€)shares | Dec. 31, 2014EUR (€)shares | |
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | ||||
Total, Beginning Balance | € 713,000,000 | € 953,000,000 | € 1,565,000,000 | |
Total, Options granted | 33,000,000 | 31,000,000 | 39,000,000 | |
Total, Options exercised | (224,000,000) | (220,000,000) | (573,000,000) | |
Total, Options cancelled | (9,000,000) | (11,000,000) | (11,000,000) | |
Total, Options forfeited | (39,000,000) | (40,000,000) | (67,000,000) | |
Total, Ending Balance | 474,000,000 | 713,000,000 | 953,000,000 | € 1,565,000,000 |
Total, Options exercisable | 308,000,000 | 527,000,000 | 750,000,000 | 1,351,000,000 |
Weighted average exercise price per share, Beginning Balance | 59.03 | 60.03 | 61.14 | |
Weighted average exercise price per share, Options granted | 88.97 | 75.90 | 89.38 | |
Weighted average exercise price per share, Options exercised | 58.92 | 63.83 | 63.50 | |
Weighted average exercise price per share, Options cancelled | 69.06 | 68.09 | 60.04 | |
Weighted average exercise price per share, Options forfeited | 62.33 | 67 | 70.38 | |
Weighted average exercise price per share, Ending Balance | 60.08 | 59.03 | 60.03 | 61.14 |
Weighted average exercise price per share, Options exercisable | € 52.93 | € 54.67 | € 57.56 | € 60.79 |
Number of options, Beginning Balance | shares | 12,065,802 | 15,867,615 | 25,602,256 | |
Number of options, Options granted | 378,040 | 402,750 | 435,000 | |
Number of options, Options exercised | (3,796,788) | (3,441,429) | (9,033,607) | |
Number of options, Options cancelled | (130,312) | (161,863) | (179,634) | |
Number of options, Options forfeited | (627,722) | (601,271) | (956,400) | |
Number of options, Ending Balance | shares | 7,889,020 | 12,065,802 | 15,867,615 | 25,602,256 |
Number of options, Options exercisable | 5,812,165 | 9,646,903 | 13,028,045 | 22,225,731 |
Consolidated Shareholders' E155
Consolidated Shareholders' Equity - Summary of Options Outstanding and Exercisable (Detail) | Dec. 31, 2017EUR (€)yr |
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |
Outstanding Number of options | 104,701 |
Stock Option Plan [member] | |
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |
Outstanding Number of options | 7,889,020 |
Exercisable Number of options | 5,812,165 |
Stock Option Plan [member] | From 30.00 to 40.00 Per Share [Member] | |
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |
Outstanding Number of options | 104,701 |
Outstanding Average residual life (years) | yr | 1.24 |
Outstanding Weighted average exercise price per share | € 38.08 |
Exercisable Number of options | 104,701 |
Exercisable Weighted average exercise price per share | € 38.08 |
Stock Option Plan [member] | From 40.00 to 50.00 Per Share [Member] | |
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |
Outstanding Number of options | 1,679,020 |
Outstanding Average residual life (years) | yr | 1.16 |
Outstanding Weighted average exercise price per share | € 45.09 |
Exercisable Number of options | 1,679,020 |
Exercisable Weighted average exercise price per share | € 45.09 |
Stock Option Plan [member] | From 50.00 to 60.00 Per Share [Member] | |
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |
Outstanding Number of options | 3,496,839 |
Outstanding Average residual life (years) | yr | 2.54 |
Outstanding Weighted average exercise price per share | € 54.22 |
Exercisable Number of options | 3,496,839 |
Exercisable Weighted average exercise price per share | € 54.22 |
Stock Option Plan [member] | From 70.00 to 80.00 Per Share [Member] | |
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |
Outstanding Number of options | 1,796,920 |
Outstanding Average residual life (years) | yr | 6.37 |
Outstanding Weighted average exercise price per share | € 73.64 |
Exercisable Number of options | 531,605 |
Exercisable Weighted average exercise price per share | € 72.19 |
Stock Option Plan [member] | From 80.00 to 90.00 Per Share [Member] | |
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |
Outstanding Number of options | 811,540 |
Outstanding Average residual life (years) | yr | 8.36 |
Outstanding Weighted average exercise price per share | € 89.19 |
Consolidated Shareholders' E156
Consolidated Shareholders' Equity - Summary of Number of Shares Used to Compute Diluted Earnings Per Share (Detail) - shares shares in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Disclosure Of Number Of Shares Used To Compute Diluted Earnings Per Share [Abstract] | |||||
Average number of shares outstanding | [1] | 1,256.9 | 1,286.6 | 1,306.2 | [2] |
Adjustment for stock options with dilutive effect | 2.7 | 2.6 | 6 | ||
Adjustment for restricted shares | 7.2 | 6.8 | 8.5 | ||
Average number of shares used to compute diluted earnings per share | [1] | 1,266.8 | 1,296 | 1,320.7 | [2] |
[1] | The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36. | ||||
[2] | Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.). |
Debt, Cash and Cash Equivale157
Debt, Cash and Cash Equivalents - Summary of Changes in Financial Position (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Disclosure of changes in financial position [Abstract] | |||||
Long-term debt | € 14,326 | € 16,815 | € 13,118 | ||
Short-term debt and current portion of long-term debt | 1,275 | 1,764 | 3,436 | ||
Interest rate and currency derivatives used to hedge debt | (57) | (100) | (156) | ||
Total debt | 15,544 | 18,479 | 16,398 | ||
Cash and cash equivalents | [1] | (10,315) | (10,273) | (9,148) | € (7,341) |
Interest rate and currency derivatives used to hedge cash and cash equivalents | 4 | ||||
Debt net of cash and cash equivalents | € 5,229 | € 8,206 | € 7,254 | ||
[1] | For 2015 and 2016, cash flows of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations). For 2017, all of the cash flows generated from the exchange of the Animal Health business for the Consumer Healthcare business of Boehringer Ingelheim (BI) are described in note (i) below. |
Debt, Cash and Cash Equivale158
Debt, Cash and Cash Equivalents - Summary of Reconciliation of Carrying Amount to Value on Redemption (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Disclosure of reconciliation of carrying amount to value on redemption [line items] | |||||
Long-term debt | € 14,326 | € 16,815 | € 13,118 | ||
Short-term debt and current portion of long-term debt | 1,275 | 1,764 | 3,436 | ||
Interest rate and currency derivatives used to hedge debt | (57) | (100) | (156) | ||
Total debt | 15,544 | 18,479 | 16,398 | ||
Cash and cash equivalents | [1] | (10,315) | (10,273) | (9,148) | € (7,341) |
Interest rate and currency derivatives used to hedge cash and cash equivalents | 4 | ||||
Debt, net of cash and cash equivalents | 5,229 | 8,206 | 7,254 | ||
Amortized Cost [Member] | |||||
Disclosure of reconciliation of carrying amount to value on redemption [line items] | |||||
Long-term debt | 64 | ||||
Total debt | 64 | ||||
Debt, net of cash and cash equivalents | 64 | ||||
Adjustment to Debt Measured at Fair Value [Member] | |||||
Disclosure of reconciliation of carrying amount to value on redemption [line items] | |||||
Long-term debt | (81) | ||||
Interest rate and currency derivatives used to hedge debt | 50 | ||||
Total debt | (31) | ||||
Debt, net of cash and cash equivalents | (31) | ||||
Value on Redemption [Member] | |||||
Disclosure of reconciliation of carrying amount to value on redemption [line items] | |||||
Long-term debt | 14,309 | 16,765 | 13,023 | ||
Short-term debt and current portion of long-term debt | 1,275 | 1,764 | 3,422 | ||
Interest rate and currency derivatives used to hedge debt | (7) | (10) | (35) | ||
Total debt | 15,577 | 18,519 | 16,410 | ||
Cash and cash equivalents | (10,315) | (10,273) | (9,148) | ||
Interest rate and currency derivatives used to hedge cash and cash equivalents | 4 | ||||
Debt, net of cash and cash equivalents | € 5,262 | € 8,246 | € 7,266 | ||
[1] | For 2015 and 2016, cash flows of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations). For 2017, all of the cash flows generated from the exchange of the Animal Health business for the Consumer Healthcare business of Boehringer Ingelheim (BI) are described in note (i) below. |
Debt, Cash and Cash Equivale159
Debt, Cash and Cash Equivalents - Disclosure Of Movement In Total Debt (Detail) - EUR (€) € in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Disclosure of debt [Line Items] | ||||
December 31, 2016 | € 18,479 | € 16,398 | ||
Repayments | (2,368) | |||
New borrowings | 41 | |||
Other cash flows | 30 | |||
Currency translation differences | (637) | |||
Other items | [1] | 38 | (83) | € (365) |
December 31, 2017 | 15,544 | 18,479 | € 16,398 | |
Fair value [Member] | ||||
Disclosure of debt [Line Items] | ||||
Other items | (1) | |||
Long Term Debt [member] | ||||
Disclosure of debt [Line Items] | ||||
December 31, 2016 | 16,815 | |||
Repayments | (8) | |||
New borrowings | 41 | |||
Currency translation differences | (300) | |||
Reclassification from non- current to current | (2,187) | |||
December 31, 2017 | 14,326 | 16,815 | ||
Long Term Debt [member] | Fair value [Member] | ||||
Disclosure of debt [Line Items] | ||||
Other items | (35) | |||
Short Term Debt And Current Portion Of Long Term Debt [Member] | ||||
Disclosure of debt [Line Items] | ||||
December 31, 2016 | 1,764 | |||
Repayments | (2,360) | |||
Other cash flows | 30 | |||
Currency translation differences | (337) | |||
Reclassification from non- current to current | 2,187 | |||
December 31, 2017 | 1,275 | 1,764 | ||
Short Term Debt And Current Portion Of Long Term Debt [Member] | Fair value [Member] | ||||
Disclosure of debt [Line Items] | ||||
Other items | (9) | |||
Interest Rate and Currency Derivatives Used to Hedge Debt [member] | ||||
Disclosure of debt [Line Items] | ||||
December 31, 2016 | (100) | |||
December 31, 2017 | (57) | € (100) | ||
Interest Rate and Currency Derivatives Used to Hedge Debt [member] | Fair value [Member] | ||||
Disclosure of debt [Line Items] | ||||
Other items | € 43 | |||
[1] | For 2015 and 2016, cash flows of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations). For 2017, all of the cash flows generated from the exchange of the Animal Health business for the Consumer Healthcare business of Boehringer Ingelheim (BI) are described in note (i) below. |
Debt, Cash and Cash Equivale160
Debt, Cash and Cash Equivalents - Additional Information (Detail) € in Thousands, $ in Millions | Dec. 30, 2017EUR (€)Counterparty | Jun. 28, 2012EUR (€) | Sep. 30, 2016EUR (€) | Apr. 30, 2016EUR (€) | Sep. 30, 2015EUR (€) | Sep. 30, 2014EUR (€) | Nov. 30, 2013EUR (€) | Sep. 30, 2013EUR (€) | Apr. 30, 2013EUR (€) | Nov. 30, 2012EUR (€) | Mar. 31, 2011USD ($) | Jun. 30, 2010USD ($) | Oct. 31, 2009EUR (€) | Dec. 31, 2017EUR (€)shares | Dec. 31, 2016EUR (€) | Dec. 31, 2015EUR (€) | Dec. 31, 2017USD ($)shares | Nov. 30, 2015EUR (€) |
Disclosure of detailed information about borrowings [Line Items] | ||||||||||||||||||
Number of counterparty representing 7% of undrawn credit facility | Counterparty | 0 | |||||||||||||||||
Debt instrument market value excluding accrued interest | € 15,544,000 | € 18,479,000 | € 16,398,000 | |||||||||||||||
Redemption price of debt issued | 5,262,000 | 8,246,000 | 7,266,000 | |||||||||||||||
At market value [Member] | ||||||||||||||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||||||||||||||
Debt instrument market value excluding accrued interest | € 5,718,000 | € 8,663,000 | € 7,633,000 | |||||||||||||||
1989 Series A Participating Shares Issued [Member] | ||||||||||||||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||||||||||||||
Number of participating shares outstanding | shares | 3,271 | 3,271 | ||||||||||||||||
Participating shares carrying amount | € 200 | |||||||||||||||||
Bonds maturing April 2018 [Member] | ||||||||||||||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||||||||||||||
Notional amount | € 1,500,000 | |||||||||||||||||
Maturity date | April 10, 2018 | |||||||||||||||||
Borrowing prepaid date | Sep. 5, 2017 | |||||||||||||||||
Bonds mature on December 15, 2017 [member] | ||||||||||||||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||||||||||||||
Notional amount | € 428,000 | |||||||||||||||||
Maturity date | December 15, 2017 | |||||||||||||||||
Borrowing prepaid date | Nov. 7, 2017 | |||||||||||||||||
Bonds maturing in November 14,2017 [Member] | ||||||||||||||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||||||||||||||
Notional amount | € 750,000 | |||||||||||||||||
Maturity date | November 14, 2017 | |||||||||||||||||
Weighted average interest rate before derivative instruments [Member] | ||||||||||||||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||||||||||||||
Bonds, interest rate | 1.70% | 1.70% | ||||||||||||||||
Weighted average interest rate after derivative instruments [Member] | ||||||||||||||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||||||||||||||
Bonds, interest rate | 1.40% | 1.40% | ||||||||||||||||
Weighted average interest rate [Member] | ||||||||||||||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||||||||||||||
Cash and cash equivalents interest rate | 0.30% | 0.30% | ||||||||||||||||
Syndicated credit facility, expires in 2021 [Member] | ||||||||||||||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||||||||||||||
Maturity date | December 3, 2021 | |||||||||||||||||
Credit facilities maximum amount | € 4,000,000 | |||||||||||||||||
Syndicated credit facility, expires in 2020 [Member] | ||||||||||||||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||||||||||||||
Maturity date | December 17, 2020 | |||||||||||||||||
Credit facilities maximum amount | € 4,000,000 | |||||||||||||||||
June 2010 GZISIN US372917AS37 [Member] | ||||||||||||||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||||||||||||||
Notional amount | $ | $ 500 | |||||||||||||||||
Maturity date | June 2,020 | |||||||||||||||||
Bonds, interest rate | 5.00% | |||||||||||||||||
Main undrawn confirmed general purpose credit facilities [Member] | ||||||||||||||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||||||||||||||
Notional amount | € 8,000,000 | |||||||||||||||||
October 2009 EMTN ISIN XS0456451771 [Member] | ||||||||||||||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||||||||||||||
Notional amount | € 800,000 | |||||||||||||||||
Maturity date | October 2,019 | |||||||||||||||||
Bonds, interest rate | 4.125% | |||||||||||||||||
September 2013 EMTN ISIN FR0011560333 [Member] | ||||||||||||||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||||||||||||||
Notional amount | € 1,000,000 | |||||||||||||||||
Maturity date | September 2,020 | |||||||||||||||||
Bonds, interest rate | 1.875% | |||||||||||||||||
November 2013 EMTN ISIN FR0011625433 [Member] | ||||||||||||||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||||||||||||||
Notional amount | € 1,000,000 | |||||||||||||||||
Maturity date | November 2,023 | |||||||||||||||||
Bonds, interest rate | 2.50% | |||||||||||||||||
September 2014 EMTN ISIN FR0012146751 [Member] | ||||||||||||||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||||||||||||||
Notional amount | € 750,000 | |||||||||||||||||
Maturity date | September 2,018 | |||||||||||||||||
Bonds, interest rate | 0.23% | |||||||||||||||||
Bonds interest rate description | 3-month Euribor +0.23% | |||||||||||||||||
September 2014 EMTN ISIN FR0012146777 [Member] | ||||||||||||||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||||||||||||||
Notional amount | € 1,000,000 | |||||||||||||||||
Maturity date | March 2,022 | |||||||||||||||||
Bonds, interest rate | 1.125% | |||||||||||||||||
September 2014 EMTN ISIN FR0012146801 [Member] | ||||||||||||||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||||||||||||||
Notional amount | € 1,510,000 | € 260,000 | ||||||||||||||||
Maturity date | September 2,026 | |||||||||||||||||
Bonds, interest rate | 1.75% | |||||||||||||||||
September 2015 EMTN ISIN FR0012969012 [Member] | ||||||||||||||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||||||||||||||
Notional amount | € 750,000 | |||||||||||||||||
Maturity date | March 2,019 | |||||||||||||||||
Bonds, interest rate | 0.30% | |||||||||||||||||
Bonds interest rate description | 3-month Euribor +0.30% | |||||||||||||||||
September 2015 EMTN ISIN FR0012969020 [Member] | ||||||||||||||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||||||||||||||
Notional amount | € 500,000 | |||||||||||||||||
Maturity date | September 2,021 | |||||||||||||||||
Bonds, interest rate | 0.875% | |||||||||||||||||
September 2015 EMTN ISIN FR0012969038 [Member] | ||||||||||||||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||||||||||||||
Notional amount | € 750,000 | |||||||||||||||||
Maturity date | September 2,025 | |||||||||||||||||
Bonds, interest rate | 1.50% | |||||||||||||||||
April 2016 EMTN ISIN FR0013143989 [ [Member] | ||||||||||||||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||||||||||||||
Notional amount | € 500,000 | |||||||||||||||||
Maturity date | April 2,019 | |||||||||||||||||
Bonds, interest rate | 0.00% | |||||||||||||||||
April 2016 EMTN ISIN FR0013143997 [Member] | ||||||||||||||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||||||||||||||
Notional amount | € 600,000 | |||||||||||||||||
Maturity date | April 2,024 | |||||||||||||||||
Bonds, interest rate | 0.625% | |||||||||||||||||
April 2016 EMTN ISIN FR00113144003 [Member] | ||||||||||||||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||||||||||||||
Notional amount | € 700,000 | |||||||||||||||||
Maturity date | April 2,028 | |||||||||||||||||
Bonds, interest rate | 1.125% | |||||||||||||||||
September 2016 EMTN ISIN FR0013201613 [Member] | ||||||||||||||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||||||||||||||
Notional amount | € 1,000,000 | |||||||||||||||||
Maturity date | January 2,020 | |||||||||||||||||
Bonds, interest rate | 0.00% | |||||||||||||||||
September 2016 EMTN ISIN FR0013201621 [Member] | ||||||||||||||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||||||||||||||
Notional amount | € 850,000 | |||||||||||||||||
Maturity date | September 2,022 | |||||||||||||||||
Bonds, interest rate | 0.00% | |||||||||||||||||
September 2016 EMTN ISIN FR0013201639 [Member] | ||||||||||||||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||||||||||||||
Notional amount | € 1,150,000 | |||||||||||||||||
Maturity date | January 2,027 | |||||||||||||||||
Bonds, interest rate | 0.50% | |||||||||||||||||
March 2011 SNFISIN US80105NAG07 [Member] | ||||||||||||||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||||||||||||||
Notional amount | $ | $ 2,000 | |||||||||||||||||
Maturity date | March 2,021 | |||||||||||||||||
Bonds, interest rate | 4.00% | |||||||||||||||||
1983 to 1987 Participating Shares Issued [Member] | ||||||||||||||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||||||||||||||
Number of participating shares outstanding | shares | 82,698 | 82,698 | ||||||||||||||||
Participating shares carrying amount | € 13,000 | |||||||||||||||||
Commercial paper program in France [Member] | ||||||||||||||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||||||||||||||
Commercial paper programs | € 6,000,000 | |||||||||||||||||
Commercial paper program in USA [Member] | ||||||||||||||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||||||||||||||
Commercial paper programs | $ | $ 10,000 | |||||||||||||||||
Average drawdown | $ | 1,900 | |||||||||||||||||
Maximum drawdown | $ | $ 4,000 |
Debt, Cash and Cash Equivale161
Debt, Cash and Cash Equivalents - Summary of Debt by Type Valuation of Redemption (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Disclosure of reconciliation of carrying amount to value on redemption [line items] | |||||
Interest rate and currency derivatives used to hedge debt | € (57) | € (100) | € (156) | ||
Total debt | 15,544 | 18,479 | 16,398 | ||
Cash and cash equivalents | [1] | (10,315) | (10,273) | (9,148) | € (7,341) |
Interest rate and currency derivatives used to hedge cash and cash equivalents | 4 | ||||
Debt, net of cash and cash equivalents | 5,229 | 8,206 | 7,254 | ||
Value on Redemption [Member] | |||||
Disclosure of reconciliation of carrying amount to value on redemption [line items] | |||||
Bond issues | 15,015 | 17,480 | 15,475 | ||
Other bank borrowings | 284 | 776 | 653 | ||
Finance lease obligations | 31 | 53 | 67 | ||
Other borrowings | 17 | 17 | 22 | ||
Bank credit balances | 237 | 203 | 228 | ||
Interest rate and currency derivatives used to hedge debt | (7) | (10) | (35) | ||
Total debt | 15,577 | 18,519 | 16,410 | ||
Cash and cash equivalents | (10,315) | (10,273) | (9,148) | ||
Interest rate and currency derivatives used to hedge cash and cash equivalents | 4 | ||||
Debt, net of cash and cash equivalents | 5,262 | 8,246 | 7,266 | ||
Value on Redemption [Member] | Non-current Assets [Member] | |||||
Disclosure of reconciliation of carrying amount to value on redemption [line items] | |||||
Debt, net of cash and cash equivalents | 14,302 | 16,756 | 13,012 | ||
Value on Redemption [Member] | Current Assets [Member] | |||||
Disclosure of reconciliation of carrying amount to value on redemption [line items] | |||||
Cash and cash equivalents | (10,315) | (10,273) | (9,148) | ||
Interest rate and currency derivatives used to hedge cash and cash equivalents | 4 | ||||
Debt, net of cash and cash equivalents | (9,040) | (8,510) | (5,746) | ||
Value on Redemption [Member] | Non-current Liabilities [Member] | |||||
Disclosure of reconciliation of carrying amount to value on redemption [line items] | |||||
Bond issues | 14,195 | 16,657 | 12,484 | ||
Other bank borrowings | 81 | 61 | 477 | ||
Finance lease obligations | 20 | 34 | 49 | ||
Other borrowings | 13 | 13 | 13 | ||
Interest rate and currency derivatives used to hedge debt | (7) | (9) | (11) | ||
Total debt | 14,302 | 16,756 | 13,012 | ||
Value on Redemption [Member] | Current Liabilities [Member] | |||||
Disclosure of reconciliation of carrying amount to value on redemption [line items] | |||||
Bond issues | 820 | 823 | 2,991 | ||
Other bank borrowings | 203 | 715 | 176 | ||
Finance lease obligations | 11 | 19 | 18 | ||
Other borrowings | 4 | 4 | 9 | ||
Bank credit balances | 237 | 203 | 228 | ||
Interest rate and currency derivatives used to hedge debt | (1) | (24) | |||
Total debt | € 1,275 | € 1,763 | € 3,398 | ||
[1] | For 2015 and 2016, cash flows of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations). For 2017, all of the cash flows generated from the exchange of the Animal Health business for the Consumer Healthcare business of Boehringer Ingelheim (BI) are described in note (i) below. |
Debt, Cash and Cash Equivale162
Debt, Cash and Cash Equivalents - Summary of Debt by Maturity at Value on Redemption (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Disclosure of detailed information about borrowings [Line Items] | |||||
Interest rate and currency derivatives used to hedge debt | € (57) | € (100) | € (156) | ||
Total debt | 15,544 | 18,479 | 16,398 | ||
Cash and cash equivalents | [1] | (10,315) | (10,273) | (9,148) | € (7,341) |
Interest rate and currency derivatives used to hedge cash and cash equivalents | 4 | ||||
Debt, net of cash and cash equivalents | 5,229 | 8,206 | 7,254 | ||
Value on Redemption [Member] | |||||
Disclosure of detailed information about borrowings [Line Items] | |||||
Bond issues | 15,015 | 17,480 | 15,475 | ||
Other bank borrowings | 284 | 776 | 653 | ||
Finance lease obligations | 31 | 53 | 67 | ||
Other borrowings | 17 | 17 | 22 | ||
Bank credit balances | 237 | 203 | 228 | ||
Interest rate and currency derivatives used to hedge debt | (7) | (10) | (35) | ||
Total debt | 15,577 | 18,519 | 16,410 | ||
Cash and cash equivalents | (10,315) | (10,273) | (9,148) | ||
Interest rate and currency derivatives used to hedge cash and cash equivalents | 4 | ||||
Debt, net of cash and cash equivalents | 5,262 | 8,246 | 7,266 | ||
Value on Redemption [Member] | Less than 1 year [Member] | |||||
Disclosure of detailed information about borrowings [Line Items] | |||||
Bond issues | 820 | 823 | 2,991 | ||
Other bank borrowings | 203 | 715 | 176 | ||
Finance lease obligations | 11 | 19 | 18 | ||
Other borrowings | 4 | 4 | 9 | ||
Bank credit balances | 237 | 203 | 228 | ||
Interest rate and currency derivatives used to hedge debt | (1) | (24) | |||
Total debt | 1,275 | 1,763 | 3,398 | ||
Cash and cash equivalents | (10,315) | (10,273) | (9,148) | ||
Interest rate and currency derivatives used to hedge cash and cash equivalents | 4 | ||||
Debt, net of cash and cash equivalents | (9,040) | (8,510) | (5,746) | ||
Value on Redemption [Member] | Later Than One Year and Not Later Than Two Years [Member] | |||||
Disclosure of detailed information about borrowings [Line Items] | |||||
Bond issues | 2,050 | 2,174 | 750 | ||
Other bank borrowings | 8 | 16 | 438 | ||
Finance lease obligations | 3 | 13 | 17 | ||
Interest rate and currency derivatives used to hedge debt | (6) | (6) | (1) | ||
Total debt | 2,055 | 2,197 | 1,204 | ||
Debt, net of cash and cash equivalents | 2,055 | 2,197 | 1,204 | ||
Value on Redemption [Member] | Later Than Two Years and Not Later Than Three Years [Member] | |||||
Disclosure of detailed information about borrowings [Line Items] | |||||
Bond issues | 2,417 | 2,050 | 2,128 | ||
Other bank borrowings | 25 | 8 | 8 | ||
Finance lease obligations | 2 | 2 | 14 | ||
Interest rate and currency derivatives used to hedge debt | (1) | (3) | (1) | ||
Total debt | 2,443 | 2,057 | 2,149 | ||
Debt, net of cash and cash equivalents | 2,443 | 2,057 | 2,149 | ||
Value on Redemption [Member] | Later Than Three Years and Not Later Than Four Years [Member] | |||||
Disclosure of detailed information about borrowings [Line Items] | |||||
Bond issues | 2,168 | 2,475 | 1,550 | ||
Other bank borrowings | 4 | 14 | 12 | ||
Finance lease obligations | 3 | 2 | 7 | ||
Interest rate and currency derivatives used to hedge debt | (6) | ||||
Total debt | 2,175 | 2,491 | 1,563 | ||
Debt, net of cash and cash equivalents | 2,175 | 2,491 | 1,563 | ||
Value on Redemption [Member] | Later Than Four Years and Not Later Than Five Years [Member] | |||||
Disclosure of detailed information about borrowings [Line Items] | |||||
Bond issues | 1,850 | 2,398 | 1,459 | ||
Other bank borrowings | 4 | 14 | |||
Finance lease obligations | 3 | 3 | 2 | ||
Interest rate and currency derivatives used to hedge debt | (3) | ||||
Total debt | 1,857 | 2,401 | 1,472 | ||
Debt, net of cash and cash equivalents | 1,857 | 2,401 | 1,472 | ||
Value on Redemption [Member] | More Than 5 Years [Member] | |||||
Disclosure of detailed information about borrowings [Line Items] | |||||
Bond issues | 5,710 | 7,560 | 6,597 | ||
Other bank borrowings | 40 | 23 | 5 | ||
Finance lease obligations | 9 | 14 | 9 | ||
Other borrowings | 13 | 13 | 13 | ||
Total debt | 5,772 | 7,610 | 6,624 | ||
Debt, net of cash and cash equivalents | € 5,772 | € 7,610 | € 6,624 | ||
[1] | For 2015 and 2016, cash flows of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations). For 2017, all of the cash flows generated from the exchange of the Animal Health business for the Consumer Healthcare business of Boehringer Ingelheim (BI) are described in note (i) below. |
Debt, Cash and Cash Equivale163
Debt, Cash and Cash Equivalents - Summary of Debt by Interest Rate (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Disclosure of financial instruments by type of interest rate [Line Items] | |||||
Debt | € 15,544 | € 18,479 | € 16,398 | ||
Debt, net of cash and cash equivalents | 5,229 | 8,206 | 7,254 | ||
Cash and cash equivalents | [1] | (10,315) | (10,273) | (9,148) | € (7,341) |
Value on Redemption After Derivative Instruments [Member] | |||||
Disclosure of financial instruments by type of interest rate [Line Items] | |||||
Debt | 15,577 | 18,519 | 16,410 | ||
Debt, net of cash and cash equivalents | 5,262 | 8,246 | 7,266 | ||
Cash and cash equivalents | (10,273) | (9,144) | |||
Value on Redemption After Derivative Instruments [Member] | Fixed-rate Debt [Member] | |||||
Disclosure of financial instruments by type of interest rate [Line Items] | |||||
Debt | 9,746 | 13,651 | 10,435 | ||
Borrowings in Euros | 8,068 | ||||
Borrowings in USD | € 1,678 | ||||
Debt percent | 63.00% | ||||
Value on Redemption After Derivative Instruments [Member] | Floating-rate Debt [Member] | |||||
Disclosure of financial instruments by type of interest rate [Line Items] | |||||
Debt | € 5,831 | € 4,868 | € 5,975 | ||
Borrowings in Euros | 4,900 | ||||
Borrowings in USD | € 462 | ||||
Debt percent | 37.00% | ||||
Cash and cash equivalents | € (10,315) | ||||
Cash and cash equivalents in EUR | (8,205) | ||||
Cash and cash equivalents in USD | € (1,653) | ||||
Cash and cash equivalent percent | 100.00% | ||||
Value on Redemption Before Derivative Instruments [Member] | |||||
Disclosure of financial instruments by type of interest rate [Line Items] | |||||
Debt | € 15,577 | ||||
Debt, net of cash and cash equivalents | 5,262 | ||||
Value on Redemption Before Derivative Instruments [Member] | Fixed-rate Debt [Member] | |||||
Disclosure of financial instruments by type of interest rate [Line Items] | |||||
Debt | 13,513 | ||||
Borrowings in Euros | 11,418 | ||||
Borrowings in USD | € 2,095 | ||||
Debt percent | 87.00% | ||||
Value on Redemption Before Derivative Instruments [Member] | Floating-rate Debt [Member] | |||||
Disclosure of financial instruments by type of interest rate [Line Items] | |||||
Debt | € 2,064 | ||||
Borrowings in Euros | 1,550 | ||||
Borrowings in USD | € 45 | ||||
Debt percent | 13.00% | ||||
Cash and cash equivalents | € (10,315) | ||||
Cash and cash equivalents in EUR | (8,205) | ||||
Cash and cash equivalents in USD | € (1,653) | ||||
Cash and cash equivalent percent | 100.00% | ||||
Less than 1 year [Member] | Value on Redemption After Derivative Instruments [Member] | |||||
Disclosure of financial instruments by type of interest rate [Line Items] | |||||
Debt | € 5,906 | ||||
Debt, net of cash and cash equivalents | (4,409) | ||||
Less than 1 year [Member] | Value on Redemption After Derivative Instruments [Member] | Fixed-rate Debt [Member] | |||||
Disclosure of financial instruments by type of interest rate [Line Items] | |||||
Debt | 75 | ||||
Less than 1 year [Member] | Value on Redemption After Derivative Instruments [Member] | Floating-rate Debt [Member] | |||||
Disclosure of financial instruments by type of interest rate [Line Items] | |||||
Debt | 5,831 | ||||
Cash and cash equivalents | (10,315) | ||||
Less than 1 year [Member] | Value on Redemption Before Derivative Instruments [Member] | |||||
Disclosure of financial instruments by type of interest rate [Line Items] | |||||
Debt | 2,139 | ||||
Debt, net of cash and cash equivalents | (8,176) | ||||
Less than 1 year [Member] | Value on Redemption Before Derivative Instruments [Member] | Fixed-rate Debt [Member] | |||||
Disclosure of financial instruments by type of interest rate [Line Items] | |||||
Debt | 75 | ||||
Less than 1 year [Member] | Value on Redemption Before Derivative Instruments [Member] | Floating-rate Debt [Member] | |||||
Disclosure of financial instruments by type of interest rate [Line Items] | |||||
Debt | 2,064 | ||||
Cash and cash equivalents | (10,315) | ||||
Later Than One Year and Not Later Than Two Years [Member] | Value on Redemption After Derivative Instruments [Member] | |||||
Disclosure of financial instruments by type of interest rate [Line Items] | |||||
Debt | (256) | ||||
Debt, net of cash and cash equivalents | (256) | ||||
Later Than One Year and Not Later Than Two Years [Member] | Value on Redemption After Derivative Instruments [Member] | Fixed-rate Debt [Member] | |||||
Disclosure of financial instruments by type of interest rate [Line Items] | |||||
Debt | (256) | ||||
Later Than One Year and Not Later Than Two Years [Member] | Value on Redemption Before Derivative Instruments [Member] | |||||
Disclosure of financial instruments by type of interest rate [Line Items] | |||||
Debt | 1,294 | ||||
Debt, net of cash and cash equivalents | 1,294 | ||||
Later Than One Year and Not Later Than Two Years [Member] | Value on Redemption Before Derivative Instruments [Member] | Fixed-rate Debt [Member] | |||||
Disclosure of financial instruments by type of interest rate [Line Items] | |||||
Debt | 1,294 | ||||
Later Than Two Years and Not Later Than Three Years [Member] | Value on Redemption After Derivative Instruments [Member] | |||||
Disclosure of financial instruments by type of interest rate [Line Items] | |||||
Debt | 1,999 | ||||
Debt, net of cash and cash equivalents | 1,999 | ||||
Later Than Two Years and Not Later Than Three Years [Member] | Value on Redemption After Derivative Instruments [Member] | Fixed-rate Debt [Member] | |||||
Disclosure of financial instruments by type of interest rate [Line Items] | |||||
Debt | 1,999 | ||||
Later Than Two Years and Not Later Than Three Years [Member] | Value on Redemption Before Derivative Instruments [Member] | |||||
Disclosure of financial instruments by type of interest rate [Line Items] | |||||
Debt | 2,416 | ||||
Debt, net of cash and cash equivalents | 2,416 | ||||
Later Than Two Years and Not Later Than Three Years [Member] | Value on Redemption Before Derivative Instruments [Member] | Fixed-rate Debt [Member] | |||||
Disclosure of financial instruments by type of interest rate [Line Items] | |||||
Debt | 2,416 | ||||
Later Than Three Years and Not Later Than Four Years [Member] | Value on Redemption After Derivative Instruments [Member] | |||||
Disclosure of financial instruments by type of interest rate [Line Items] | |||||
Debt | 2,168 | ||||
Debt, net of cash and cash equivalents | 2,168 | ||||
Later Than Three Years and Not Later Than Four Years [Member] | Value on Redemption After Derivative Instruments [Member] | Fixed-rate Debt [Member] | |||||
Disclosure of financial instruments by type of interest rate [Line Items] | |||||
Debt | 2,168 | ||||
Later Than Three Years and Not Later Than Four Years [Member] | Value on Redemption Before Derivative Instruments [Member] | |||||
Disclosure of financial instruments by type of interest rate [Line Items] | |||||
Debt | 2,168 | ||||
Debt, net of cash and cash equivalents | 2,168 | ||||
Later Than Three Years and Not Later Than Four Years [Member] | Value on Redemption Before Derivative Instruments [Member] | Fixed-rate Debt [Member] | |||||
Disclosure of financial instruments by type of interest rate [Line Items] | |||||
Debt | 2,168 | ||||
Later Than Four Years and Not Later Than Five Years [Member] | Value on Redemption After Derivative Instruments [Member] | |||||
Disclosure of financial instruments by type of interest rate [Line Items] | |||||
Debt | 50 | ||||
Debt, net of cash and cash equivalents | 50 | ||||
Later Than Four Years and Not Later Than Five Years [Member] | Value on Redemption After Derivative Instruments [Member] | Fixed-rate Debt [Member] | |||||
Disclosure of financial instruments by type of interest rate [Line Items] | |||||
Debt | 50 | ||||
Later Than Four Years and Not Later Than Five Years [Member] | Value on Redemption Before Derivative Instruments [Member] | |||||
Disclosure of financial instruments by type of interest rate [Line Items] | |||||
Debt | 1,850 | ||||
Debt, net of cash and cash equivalents | 1,850 | ||||
Later Than Four Years and Not Later Than Five Years [Member] | Value on Redemption Before Derivative Instruments [Member] | Fixed-rate Debt [Member] | |||||
Disclosure of financial instruments by type of interest rate [Line Items] | |||||
Debt | 1,850 | ||||
More Than 5 Years [Member] | Value on Redemption After Derivative Instruments [Member] | |||||
Disclosure of financial instruments by type of interest rate [Line Items] | |||||
Debt | 5,710 | ||||
Debt, net of cash and cash equivalents | 5,710 | ||||
More Than 5 Years [Member] | Value on Redemption After Derivative Instruments [Member] | Fixed-rate Debt [Member] | |||||
Disclosure of financial instruments by type of interest rate [Line Items] | |||||
Debt | 5,710 | ||||
More Than 5 Years [Member] | Value on Redemption Before Derivative Instruments [Member] | |||||
Disclosure of financial instruments by type of interest rate [Line Items] | |||||
Debt | 5,710 | ||||
Debt, net of cash and cash equivalents | 5,710 | ||||
More Than 5 Years [Member] | Value on Redemption Before Derivative Instruments [Member] | Fixed-rate Debt [Member] | |||||
Disclosure of financial instruments by type of interest rate [Line Items] | |||||
Debt | € 5,710 | ||||
[1] | For 2015 and 2016, cash flows of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations). For 2017, all of the cash flows generated from the exchange of the Animal Health business for the Consumer Healthcare business of Boehringer Ingelheim (BI) are described in note (i) below. |
Debt, Cash and Cash Equivale164
Debt, Cash and Cash Equivalents - Summary of Interest Rate of Debt Net of Cash and Cash Equivalents at Value on Redemption (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Disclosure of Interest Rate of Debt Net of Cash and Cash Equivalent [Line Items] | |||||
Debt | € 15,544 | € 18,479 | € 16,398 | ||
Cash and cash equivalents | [1] | (10,315) | (10,273) | (9,148) | € (7,341) |
Debt net of cash and cash equivalents | 5,229 | 8,206 | 7,254 | ||
Value on Redemption After Derivative Instruments [Member] | |||||
Disclosure of Interest Rate of Debt Net of Cash and Cash Equivalent [Line Items] | |||||
Debt | 15,577 | 18,519 | 16,410 | ||
Cash and cash equivalents | (10,273) | (9,144) | |||
Debt net of cash and cash equivalents | 5,262 | 8,246 | 7,266 | ||
Fixed-rate Debt [Member] | Value on Redemption After Derivative Instruments [Member] | |||||
Disclosure of Interest Rate of Debt Net of Cash and Cash Equivalent [Line Items] | |||||
Debt | € 9,746 | 13,651 | 10,435 | ||
Debt percent | 63.00% | ||||
Floating-rate Debt [Member] | Value on Redemption After Derivative Instruments [Member] | |||||
Disclosure of Interest Rate of Debt Net of Cash and Cash Equivalent [Line Items] | |||||
Debt | € 5,831 | € 4,868 | € 5,975 | ||
Cash and cash equivalents | € (10,315) | ||||
Debt percent | 37.00% | ||||
Value on Redemption After Derivative Instruments [Member] | |||||
Disclosure of Interest Rate of Debt Net of Cash and Cash Equivalent [Line Items] | |||||
Debt percent | 100.00% | 100.00% | |||
Value on Redemption After Derivative Instruments [Member] | Fixed-rate Debt [Member] | |||||
Disclosure of Interest Rate of Debt Net of Cash and Cash Equivalent [Line Items] | |||||
Debt percent | 74.00% | 64.00% | |||
Value on Redemption After Derivative Instruments [Member] | Floating-rate Debt [Member] | |||||
Disclosure of Interest Rate of Debt Net of Cash and Cash Equivalent [Line Items] | |||||
Debt percent | 26.00% | 36.00% | |||
[1] | For 2015 and 2016, cash flows of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations). For 2017, all of the cash flows generated from the exchange of the Animal Health business for the Consumer Healthcare business of Boehringer Ingelheim (BI) are described in note (i) below. |
Debt, Cash and Cash Equivale165
Debt, Cash and Cash Equivalents - Summary of Interest Rate Fluctuations of Debt Net of Cash and Cash Equivalents (Detail) € in Millions | 12 Months Ended |
Dec. 31, 2017EUR (€) | |
+100 BP [Member] | |
Disclosure of Interest Rate of Debt Net of Cash and Cash Equivalent [Line Items] | |
Impact on pre-tax net income | € 45 |
Impact on pre-tax income/(expense) recognized directly in equity | 0 |
+25 BP [Member] | |
Disclosure of Interest Rate of Debt Net of Cash and Cash Equivalent [Line Items] | |
Impact on pre-tax net income | 11 |
Impact on pre-tax income/(expense) recognized directly in equity | 0 |
-25 BP [Member] | |
Disclosure of Interest Rate of Debt Net of Cash and Cash Equivalent [Line Items] | |
Impact on pre-tax net income | (11) |
Impact on pre-tax income/(expense) recognized directly in equity | 0 |
-100 BP [Member] | |
Disclosure of Interest Rate of Debt Net of Cash and Cash Equivalent [Line Items] | |
Impact on pre-tax net income | (45) |
Impact on pre-tax income/(expense) recognized directly in equity | € 0 |
Debt, Cash and Cash Equivale166
Debt, Cash and Cash Equivalents - Summary of Debt by Currency (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure Of Debt By Currency [Line Items] | |||
Debt net of cash and cash equivalents | € 5,229 | € 8,206 | € 7,254 |
Value on Redemption Before Derivative Instruments [Member] | |||
Disclosure Of Debt By Currency [Line Items] | |||
Euro | 4,763 | ||
US dollar | 487 | ||
Indian rupee | (150) | ||
Saudi riyal | 102 | ||
Algerian dinar | 138 | ||
Other currencies | (78) | ||
Debt net of cash and cash equivalents | 5,262 | ||
Value on Redemption After Derivative Instruments [Member] | |||
Disclosure Of Debt By Currency [Line Items] | |||
Euro | 4,763 | 6,460 | 3,356 |
US dollar | 487 | 2,565 | 4,221 |
Indian rupee | (150) | ||
Saudi riyal | 102 | ||
Algerian dinar | 138 | ||
Other currencies | (78) | (779) | (311) |
Debt net of cash and cash equivalents | € 5,262 | € 8,246 | € 7,266 |
Debt, Cash and Cash Equivale167
Debt, Cash and Cash Equivalents - Amount of Future Undiscounted Contractual Cash Flows Relating to Debt and Derivative Instruments Designated as Hedges of Debt (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of maturity analysis for derivative financial liabilities [Line Items] | |||
Debt | € 16,682 | € 19,937 | € 17,960 |
Principal | 15,509 | 18,451 | 16,325 |
Interest | 1,173 | 1,486 | 1,635 |
Net cash flows related to derivative instruments | (51) | (104) | (165) |
Total | 16,631 | 19,833 | 17,795 |
Less than 1 year [Member] | |||
Disclosure of maturity analysis for derivative financial liabilities [Line Items] | |||
Debt | 1,441 | 1,951 | 3,653 |
Principal | 1,201 | 1,678 | 3,308 |
Interest | 240 | 273 | 345 |
Net cash flows related to derivative instruments | (38) | (42) | (78) |
Total | 1,403 | 1,909 | 3,575 |
Later Than One Year and Not Later Than Two Years [Member] | |||
Disclosure of maturity analysis for derivative financial liabilities [Line Items] | |||
Debt | 2,301 | 2,477 | 1,471 |
Principal | 2,062 | 2,217 | 1,215 |
Interest | 239 | 260 | 256 |
Net cash flows related to derivative instruments | (32) | (33) | (38) |
Total | 2,269 | 2,444 | 1,433 |
Later Than Two Years and Not Later Than Three Years [Member] | |||
Disclosure of maturity analysis for derivative financial liabilities [Line Items] | |||
Debt | 2,650 | 2,304 | 2,389 |
Principal | 2,444 | 2,054 | 2,146 |
Interest | 206 | 250 | 243 |
Net cash flows related to derivative instruments | 1 | (29) | (26) |
Total | 2,651 | 2,275 | 2,363 |
Later Than Three Years and Not Later Than Four Years [Member] | |||
Disclosure of maturity analysis for derivative financial liabilities [Line Items] | |||
Debt | 2,307 | 2,708 | 1,794 |
Principal | 2,175 | 2,491 | 1,564 |
Interest | 132 | 217 | 230 |
Net cash flows related to derivative instruments | 8 | (2) | (21) |
Total | 2,315 | 2,706 | 1,773 |
Later Than Four Years and Not Later Than Five Years [Member] | |||
Disclosure of maturity analysis for derivative financial liabilities [Line Items] | |||
Debt | 1,950 | 2,537 | 1,668 |
Principal | 1,857 | 2,401 | 1,472 |
Interest | 93 | 136 | 196 |
Net cash flows related to derivative instruments | 10 | 1 | (2) |
Total | 1,960 | 2,538 | 1,666 |
More Than 5 Years [Member] | |||
Disclosure of maturity analysis for derivative financial liabilities [Line Items] | |||
Debt | 6,033 | 7,960 | 6,985 |
Principal | 5,770 | 7,610 | 6,620 |
Interest | 263 | 350 | 365 |
Net cash flows related to derivative instruments | 1 | ||
Total | € 6,033 | € 7,961 | € 6,985 |
Liabilities Related to Busin168
Liabilities Related to Business Combinations and to Non-Controlling Interests - Summary of Movements in Liabilities Related to Business Combinations and to Non-Controlling Interests (Detail) - EUR (€) € in Millions | 12 Months Ended | |||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||||
Disclosure Of Liabilities Related To Business Combinations And To Noncontrolling Interests [line items] | ||||||
Beginning balance | [1] | € 1,576 | € 1,251 | € 1,264 | ||
New business combinations | [1] | 85 | [2],[3] | 354 | ||
Payments made | [1] | (226) | (140) | (70) | ||
Fair value remeasurements through profit or loss: (gain)/loss (including unwinding of discount)(c) | [1],[4] | 43 | 135 | [2] | (53) | |
Other movements | [1] | 29 | (58) | (16) | ||
Currency translation differences | [1] | (138) | 34 | 126 | ||
Ending balance | [1] | 1,369 | 1,576 | 1,251 | ||
CVRs Issued in Connection with the Acquisition of Genzyme [Member] | ||||||
Disclosure Of Liabilities Related To Business Combinations And To Noncontrolling Interests [line items] | ||||||
Beginning balance | [5] | 85 | 24 | 154 | ||
Fair value remeasurements through profit or loss: (gain)/loss (including unwinding of discount)(c) | [4],[5] | 1 | 58 | [2] | (143) | |
Currency translation differences | [5] | (11) | 3 | 13 | ||
Ending balance | [5] | 75 | 85 | 24 | ||
Liabilities Related to Non-controlling Interests [Member] | ||||||
Disclosure Of Liabilities Related To Business Combinations And To Noncontrolling Interests [line items] | ||||||
Beginning balance | [6] | 123 | 181 | 178 | ||
Other movements | [6] | (28) | (58) | (5) | ||
Currency translation differences | [6] | (3) | 8 | |||
Ending balance | [6] | 92 | 123 | 181 | ||
Bayer Contingent Purchase Consideration Arising from the Acquisition of Genzyme [Member] | ||||||
Disclosure Of Liabilities Related To Business Combinations And To Noncontrolling Interests [line items] | ||||||
Beginning balance | 1,013 | 1,040 | 896 | |||
Payments made | (165) | (137) | (63) | |||
Fair value remeasurements through profit or loss: (gain)/loss (including unwinding of discount)(c) | [4] | (28) | 78 | [2] | 104 | |
Currency translation differences | (119) | 32 | 103 | |||
Ending balance | 701 | 1,013 | 1,040 | |||
MSD Contingent Consideration European Vaccines Business [Member] | ||||||
Disclosure Of Liabilities Related To Business Combinations And To Noncontrolling Interests [line items] | ||||||
Beginning balance | 354 | |||||
New business combinations | 354 | |||||
Fair value remeasurements through profit or loss: (gain)/loss (including unwinding of discount)(c) | [4] | 71 | ||||
Currency translation differences | (5) | |||||
Ending balance | 420 | 354 | ||||
Other [Member] | ||||||
Disclosure Of Liabilities Related To Business Combinations And To Noncontrolling Interests [line items] | ||||||
Beginning balance | 1 | 6 | 36 | |||
New business combinations | [2],[3] | 85 | ||||
Payments made | (61) | (3) | (7) | |||
Fair value remeasurements through profit or loss: (gain)/loss (including unwinding of discount)(c) | [4] | (1) | (1) | [2] | (14) | |
Other movements | 57 | (11) | ||||
Currency translation differences | (1) | 2 | ||||
Ending balance | € 81 | € 1 | € 6 | |||
[1] | Portion due after more than one year: €1,026 million as of December 31, 2017 (€1,378 million as of December 31, 2016 and €1,121 million as of December 31, 2015); portion due within less than one year: €343 million as of December 31, 2017 (€198 million as of December 31, 2016 and €130 million as of December 31, 2015). | |||||
[2] | See Note C.2. to the financial statements for the year ended December 31, 2017. | |||||
[3] | Two potential payments of €42 million each relating to the acquisition of Protein Sciences, which are contingent on the attainment of specified performance criteria subsequent to the acquisition date. | |||||
[4] | Amounts reported within the income statement line item Fair value remeasurement of contingent consideration, and mainly comprising unrealized gains and losses. | |||||
[5] | Based on the quoted market price per CVR of $0.38 as of December 31, 2017 and 2016, and $0.11 as of December 31, 2015. | |||||
[6] | Includes put options granted to non-controlling interests and commitment to future buyout of non-controlling interests held by BMS. |
Liabilities Related to Busin169
Liabilities Related to Business Combinations and to Non-Controlling Interests - Summary of Movements in Liabilities Related to Business Combinations and to Non-Controlling Interests (Parenthetical) (Detail) € in Millions | 12 Months Ended | |||||
Dec. 31, 2017EUR (€) | Dec. 31, 2017$ / shares | Dec. 31, 2016EUR (€) | Dec. 31, 2016$ / shares | Dec. 31, 2015EUR (€) | Dec. 31, 2015$ / shares | |
Disclosure Of Liabilities Related To Business Combinations And To Noncontrolling Interests [abstract] | ||||||
Quoted market price per share of CVRs issued in connection with the acquisition of Genzyme | $ / shares | $ 0.38 | $ 0.38 | $ 0.11 | |||
Non-current liabilities related to business combinations and to non-controlling interests | € 1,026 | € 1,378 | € 1,121 | |||
Current liabilities related to business combinations and to non-controlling interests | € 343 | € 198 | € 130 | |||
Number of potential payment | 2 | |||||
Acquisition Payment | € 42 |
Liabilities Related to Busin170
Liabilities Related to Business Combinations and to Non-Controlling Interests - Additional Information (Detail) € in Millions | 12 Months Ended | ||||
Dec. 31, 2017USD ($) | Dec. 31, 2017EUR (€) | Dec. 31, 2016EUR (€) | Dec. 31, 2015EUR (€) | ||
Disclosure Of Liabilities Related To Business Combinations And To Noncontrolling Interests [line items] | |||||
Commitments relating to contingent consideration in connection with business combinations and buyouts of non-controlling interests | € 4,293 | [1] | € 4,832 | € 5,073 | |
Bayer schering pharma AG [Member] | |||||
Disclosure Of Liabilities Related To Business Combinations And To Noncontrolling Interests [line items] | |||||
Payment to sale of business period | 10 years | ||||
Milestone payment period | 2,021 | ||||
Fair value of the contingent consideration payable to Bayer | € 701 | € 1,013 | |||
Increase in fair value of liability | 3.00% | ||||
Bayer schering pharma AG [Member] | Top of range [Member] | |||||
Disclosure Of Liabilities Related To Business Combinations And To Noncontrolling Interests [line items] | |||||
Potentiel payments related to percentage of sales of alemtuzumab | $ | $ 1,250,000,000 | ||||
Milestone payment | $ | $ 900,000,000 | ||||
MSD [member] | |||||
Disclosure Of Liabilities Related To Business Combinations And To Noncontrolling Interests [line items] | |||||
Fair value of the contingent consideration payable to MSD | € 420 | ||||
[1] | This line does not include put options granted to non-controlling interests. |
Liabilities Related to Busin171
Liabilities Related to Business Combinations and to Non-Controlling Interests - Summary of Maximum Amount of Contingent Consideration Payable and Firm Commitments to Buy Out Non-Controlling Interests (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Disclosure Of maximum amount of contingent consideration payable and firm commitments to buy out non-controlling interests [Line Items] | |||||
Commitments relating to contingent consideration in connection with business combinations and buyouts of non-controlling interests | € 4,293 | [1] | € 4,832 | € 5,073 | |
Less than 1 year [Member] | |||||
Disclosure Of maximum amount of contingent consideration payable and firm commitments to buy out non-controlling interests [Line Items] | |||||
Commitments relating to contingent consideration in connection with business combinations and buyouts of non-controlling interests | [1] | 354 | |||
1 to 3 years [Member] | |||||
Disclosure Of maximum amount of contingent consideration payable and firm commitments to buy out non-controlling interests [Line Items] | |||||
Commitments relating to contingent consideration in connection with business combinations and buyouts of non-controlling interests | [1] | 2,630 | |||
3 to 5 years [Member] | |||||
Disclosure Of maximum amount of contingent consideration payable and firm commitments to buy out non-controlling interests [Line Items] | |||||
Commitments relating to contingent consideration in connection with business combinations and buyouts of non-controlling interests | [1] | 1,069 | |||
More Than 5 Years [Member] | |||||
Disclosure Of maximum amount of contingent consideration payable and firm commitments to buy out non-controlling interests [Line Items] | |||||
Commitments relating to contingent consideration in connection with business combinations and buyouts of non-controlling interests | [1] | € 240 | |||
[1] | This line does not include put options granted to non-controlling interests. |
Liabilities Related to Busin172
Liabilities Related to Business Combinations and to Non-Controlling Interests - Summary of Maximum Amount of Contingent Consideration Payable and Firm Commitments to Buy Out Non-Controlling Interests (Parenthetical) (Detail) - EUR (€) € in Billions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Disclosure Of maximum amount of contingent consideration payable and firm commitments to buy out non-controlling interests [Abstract] | ||||
Commitments relating to contingent consideration in connection with business combinations Bayer | [1] | € 1.4 | € 1.8 | € 1.9 |
Commitments relating to contingent consideration of which CVR issued in connection with the Genzyme acquisition | [1] | € 2.2 | € 2.5 | € 2.6 |
[1] | This line does not include put options granted to non-controlling interests. |
Provisions and Other Liabili173
Provisions and Other Liabilities - Summary of Provisions and Other Non-current Liabilities (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Non-current provisions and other non-current liabilities [Line Items] | |||
Balance, beginning of period | € 8,834 | € 9,169 | € 9,578 |
Changes in scope of consolidation | 105 | 13 | |
Increases in provisions and other liabilities | 2,083 | 1,227 | 1,252 |
Provisions utilized | (981) | (584) | (585) |
Reversals of unutilized provisions | (373) | (507) | (315) |
Transfers | (330) | (790) | (328) |
Reclassification of the Animal Health business | (149) | ||
Net interest related to employee benefits, and unwinding of discount | 125 | 149 | 158 |
Unrealized gains and losses | 6 | 5 | |
Currency translation differences | (345) | 61 | 190 |
Actuarial gains and losses on defined-benefit plans | 30 | 109 | (650) |
Balance, end of period | 9,154 | 8,834 | 9,169 |
Provisions for Pensions and Other Post-employment Benefits [Member] | |||
Non-current provisions and other non-current liabilities [Line Items] | |||
Balance, beginning of period | 4,377 | 4,308 | 4,873 |
Changes in scope of consolidation | 86 | ||
Increases in provisions and other liabilities | 269 | 220 | 290 |
Provisions utilized | (732) | (294) | (366) |
Reversals of unutilized provisions | (18) | 1 | (39) |
Transfers | 16 | (85) | 43 |
Reclassification of the Animal Health business | (76) | ||
Net interest related to employee benefits, and unwinding of discount | 87 | 108 | 109 |
Currency translation differences | (156) | 10 | 124 |
Actuarial gains and losses on defined-benefit plans | 30 | 109 | (650) |
Balance, end of period | 3,959 | 4,377 | 4,308 |
Provisions for Other Long-term Benefits [Member] | |||
Non-current provisions and other non-current liabilities [Line Items] | |||
Balance, beginning of period | 720 | 678 | 650 |
Changes in scope of consolidation | 3 | ||
Increases in provisions and other liabilities | 163 | 130 | 108 |
Provisions utilized | (97) | (86) | (73) |
Reversals of unutilized provisions | (5) | (11) | (7) |
Transfers | 1 | (6) | 3 |
Reclassification of the Animal Health business | (34) | ||
Net interest related to employee benefits, and unwinding of discount | 4 | 6 | 5 |
Currency translation differences | (39) | 9 | 26 |
Balance, end of period | 750 | 720 | 678 |
Restructuring Provisions [Member] | |||
Non-current provisions and other non-current liabilities [Line Items] | |||
Balance, beginning of period | 744 | 762 | 835 |
Increases in provisions and other liabilities | 105 | 475 | 265 |
Provisions utilized | (7) | (7) | (16) |
Reversals of unutilized provisions | (42) | (39) | (12) |
Transfers | (282) | (450) | (317) |
Reclassification of the Animal Health business | (3) | ||
Net interest related to employee benefits, and unwinding of discount | 3 | 4 | 5 |
Currency translation differences | (7) | (1) | 5 |
Balance, end of period | 514 | 744 | 762 |
Other Provisions [Member] | |||
Non-current provisions and other non-current liabilities [Line Items] | |||
Balance, beginning of period | 2,777 | 3,146 | 3,076 |
Changes in scope of consolidation | 13 | 13 | |
Increases in provisions and other liabilities | 680 | 402 | 475 |
Provisions utilized | (137) | (195) | (130) |
Reversals of unutilized provisions | (308) | (458) | (256) |
Transfers | (58) | (182) | (57) |
Reclassification of the Animal Health business | (34) | ||
Net interest related to employee benefits, and unwinding of discount | 27 | 29 | 37 |
Unrealized gains and losses | 1 | ||
Currency translation differences | (114) | 35 | 22 |
Balance, end of period | 2,881 | 2,777 | 3,146 |
Other Non-current Liabilities [Member] | |||
Non-current provisions and other non-current liabilities [Line Items] | |||
Balance, beginning of period | 216 | 275 | 144 |
Changes in scope of consolidation | 3 | ||
Increases in provisions and other liabilities | 866 | 114 | |
Provisions utilized | (8) | (2) | |
Reversals of unutilized provisions | (1) | ||
Transfers | (7) | (67) | |
Reclassification of the Animal Health business | (2) | ||
Net interest related to employee benefits, and unwinding of discount | 4 | 2 | 2 |
Unrealized gains and losses | 5 | 5 | |
Currency translation differences | (29) | 8 | 13 |
Balance, end of period | € 1,050 | € 216 | € 275 |
Provisions and Other Liabili174
Provisions and Other Liabilities - Additional Information (Detail) € in Millions | 12 Months Ended | ||
Dec. 31, 2017EUR (€)CountryPlan | Dec. 31, 2016EUR (€) | Dec. 31, 2015EUR (€) | |
Provisions and other non-current liabilities [Line Items] | |||
Number of Major countries included in pension obligations | Country | 4 | ||
Pension obligations, percentage to defined-benefit liability | 90.00% | ||
Pension obligations, percentage to plan assets | 89.00% | ||
Defined benefit obligation, at present value | € 862 | € 1,159 | € 1,030 |
Net pre-tax actuarial loss (excluding associates and joint ventures) recognized directly in equity | 3,035 | 3,006 | 2,898 |
Present value of Sanofi's wholly or partially funded obligations in respect of pension and other post-employment benefit plans | 11,915 | 11,713 | 11,473 |
Present value of unfunded obligations in respect of pension and other post-employment benefit plans | 1,097 | 1,375 | 1,352 |
Other non-current liabilities | 1,050 | 216 | 275 |
Liability recognized representing the estimated cost | € 1,069 | ||
Cost write off period | 0 | ||
Other current liabilities | € 5,087 | 5,815 | 5,131 |
Greater than 12 Months [Member] | |||
Provisions and other non-current liabilities [Line Items] | |||
Other non-current liabilities | 708 | ||
Less than 1 year [Member] | |||
Provisions and other non-current liabilities [Line Items] | |||
Defined benefit obligation, at present value | 454 | 556 | 483 |
Other current liabilities | € 361 | ||
Other environment related provision [Member] | |||
Provisions and other non-current liabilities [Line Items] | |||
Identified environmental risks provisions estimated obligation period | 30 years | ||
Other provisions, expected utilized amount in 2018 | € 139 | ||
Other provisions, expected utilized amount in 2019 through 2022 | 333 | ||
France [Member] | |||
Provisions and other non-current liabilities [Line Items] | |||
Defined benefit obligation, at present value | € 588 | € 933 | € 772 |
Average residual holding periods | 2 years 1 month 13 days | 2 years 6 months 3 days | 2 years 7 months 21 days |
Premium payments | € 0 | € 0 | € 4.4 |
France [Member] | Evotec [Member] | |||
Provisions and other non-current liabilities [Line Items] | |||
Restructuring provisions | € 104 | 163 | |
Commitment period | 5 years | ||
United States [Member] | |||
Provisions and other non-current liabilities [Line Items] | |||
Number of types of defined-benefit plan | Plan | 2 | ||
United States [Member] | Healthcare cover and life insurance [member] | |||
Provisions and other non-current liabilities [Line Items] | |||
Pension obligations, percentage to defined-benefit liability | 26.00% | ||
UK [Member] | |||
Provisions and other non-current liabilities [Line Items] | |||
Retirement age | 65 | ||
Notional retirement age | 60 years | ||
UK [Member] | Bottom of range [Member] | |||
Provisions and other non-current liabilities [Line Items] | |||
Vesting right percentage | 1.25% | ||
UK [Member] | Top of range [Member] | |||
Provisions and other non-current liabilities [Line Items] | |||
Vesting right percentage | 1.50% | ||
Defined benefit pension plans [member] | France [Member] | |||
Provisions and other non-current liabilities [Line Items] | |||
Pension obligations, percentage to defined-benefit liability | 66.00% | ||
Defined benefit pension plans [member] | United States [Member] | Qualified defined benefit pension plans [member] | |||
Provisions and other non-current liabilities [Line Items] | |||
Pension obligations, percentage to defined-benefit liability | 65.00% | ||
Defined benefit pension plans [member] | United States [Member] | Non qualified defined benefit pension plans [member] | |||
Provisions and other non-current liabilities [Line Items] | |||
Pension obligations, percentage to defined-benefit liability | 9.00% | ||
Defined benefit pension plans [member] | UK [Member] | |||
Provisions and other non-current liabilities [Line Items] | |||
Pension obligations, percentage to defined-benefit liability | 99.00% | ||
Top-up defined-benefit pension plan [member] | Germany [Member] | |||
Provisions and other non-current liabilities [Line Items] | |||
Pension obligations, percentage to defined-benefit liability | 69.00% | ||
Sanofi-Aventis plus [member] | Germany [Member] | |||
Provisions and other non-current liabilities [Line Items] | |||
Employer's contribution percentage | 15.00% | ||
Multi-employer plan (Pensionskasses) [member] | Germany [Member] | |||
Provisions and other non-current liabilities [Line Items] | |||
Pension obligations, percentage to defined-benefit liability | 19.00% | ||
Defined benefit obligation, at present value | € 699 | € 663 | € 670 |
Lump-sum retirement benefit plans [member] | France [Member] | |||
Provisions and other non-current liabilities [Line Items] | |||
Pension obligations, percentage to defined-benefit liability | 34.00% |
Provisions and Other Non-curren
Provisions and Other Non-current Liabilities - Summary of Financial and Demographic Assumptions (Detail) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
France [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Discount rate, bottom of range | 0.75% | 1.00% | 1.50% |
Discount rate, top of range | 1.25% | 1.50% | 2.25% |
General inflation rate | 1.50% | 1.50% | 1.75% |
Pension benefit indexation, bottom of range | 1.25% | 1.25% | 1.25% |
Pension benefit indexation, top of range | 2.25% | 2.25% | 2.25% |
Healthcare cost inflation rate | 2.00% | 2.00% | 2.00% |
Retirement age, bottom of range | 62 years | 62 years | 62 years |
Retirement age, top of range | 67 years | 67 years | 67 years |
Mortality table | TGH/ TGF 05 | TGH/ TGF 05 | TGH/ TGF 05 |
Germany [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Discount rate, bottom of range | 0.75% | 1.00% | 1.50% |
Discount rate, top of range | 1.25% | 1.50% | 2.25% |
General inflation rate | 1.50% | 1.50% | 1.75% |
Pension benefit indexation, top of range | 1.50% | 1.75% | 1.75% |
Retirement age, bottom of range | 62 years | 62 years | 62 years |
Mortality table | Heubeck RT 2005 G | Heubeck RT 2005 G | Heubeck RT 2005 G |
United States [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Discount rate, top of range | 3.50% | 4.00% | 4.00% |
General inflation rate | 2.00% | 2.00% | 2.25% |
Healthcare cost inflation rate | 5.81% | 5.96% | 6.10% |
Retirement age, bottom of range | 55 years | 55 years | 55 years |
Retirement age, top of range | 70 years | 70 years | 70 years |
Mortality table | RP2014 G. Scale MP2017 | RP2014 G. Scale MP2016 | RP2014 G. Scale MP2015 |
UK [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Discount rate, top of range | 2.50% | 2.75% | 4.00% |
General inflation rate | 3.10% | 3.15% | 3.15% |
Pension benefit indexation, top of range | 3.10% | 3.15% | 3.15% |
Healthcare cost inflation rate | 1.50% | 1.50% | 1.50% |
Retirement age, bottom of range | 60 years | 60 years | 60 years |
Mortality table | SAPS S2 | SAPS S2 | SAPS S2 |
Provisions and Other Non-cur176
Provisions and Other Non-current Liabilities - Summary of Financial and Demographic Assumptions (Parenthetical) (Detail) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of defined benefit plans [Abstract] | |
Defined benefit duration for which lower discount rates are used | 7 to 10 years |
Defined benefit duration for which higher discount rates are used | More than 10 years |
Provisions and Other Liabili177
Provisions and Other Liabilities - Summary of Weighted Average Duration of Obligation for Pensions and Other Long-term Benefits in Principal Countries (Detail) - yr | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
France [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Weighted average duration in main countries | 13 | 13 | 13 |
Germany [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Weighted average duration in main countries | 15 | 14 | 14 |
United States [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Weighted average duration in main countries | 14 | 13 | 14 |
UK [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Weighted average duration in main countries | 17 | 17 | 17 |
Provisions and Other Liabili178
Provisions and Other Liabilities - Summary of Sensitivity for Pensions and Other Post-Employment Benefits to Changes in Key Actuarial Assumptions (Detail) € in Millions | 12 Months Ended |
Dec. 31, 2017EUR (€) | |
Discount Rate [Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | |
Possible decrease in actuarial assumption | (0.50%) |
General Inflation Rate[Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | |
Possible increase in actuarial assumption | 0.50% |
Pension Benefits Indexation [Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | |
Possible increase in actuarial assumption | 0.50% |
Healthcare Cost Inflation Rate [Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | |
Possible increase in actuarial assumption | 0.50% |
Mortality Table [Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | |
Possible increase in mortality table in years | 1 year |
France [Member] | Discount Rate [Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | |
Measurement of defined-benefit obligation | € 156 |
France [Member] | General Inflation Rate[Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | |
Measurement of defined-benefit obligation | 34 |
France [Member] | Pension Benefits Indexation [Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | |
Measurement of defined-benefit obligation | 88 |
France [Member] | Mortality Table [Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | |
Measurement of defined-benefit obligation | 59 |
Germany [Member] | Discount Rate [Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | |
Measurement of defined-benefit obligation | 254 |
Germany [Member] | General Inflation Rate[Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | |
Measurement of defined-benefit obligation | 343 |
Germany [Member] | Pension Benefits Indexation [Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | |
Measurement of defined-benefit obligation | 332 |
Germany [Member] | Mortality Table [Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | |
Measurement of defined-benefit obligation | 93 |
United States [Member] | Discount Rate [Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | |
Measurement of defined-benefit obligation | 190 |
United States [Member] | General Inflation Rate[Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | |
Measurement of defined-benefit obligation | 2 |
United States [Member] | Pension Benefits Indexation [Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | |
Measurement of defined-benefit obligation | 2 |
United States [Member] | Healthcare Cost Inflation Rate [Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | |
Measurement of defined-benefit obligation | 35 |
United States [Member] | Mortality Table [Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | |
Measurement of defined-benefit obligation | 71 |
UK [Member] | Discount Rate [Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | |
Measurement of defined-benefit obligation | 266 |
UK [Member] | General Inflation Rate[Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | |
Measurement of defined-benefit obligation | 206 |
UK [Member] | Pension Benefits Indexation [Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | |
Measurement of defined-benefit obligation | 147 |
UK [Member] | Mortality Table [Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | |
Measurement of defined-benefit obligation | € 115 |
Provisions and Other Liabili179
Provisions and Other Liabilities - Net Amount Recognized in Respect of Pension and Other Post-employment Benefit Plans (Detail) - EUR (€) € in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Disclosure of net defined benefit liability (asset) [Line Items] | ||||
Pre-funded obligations | € (53) | € (30) | € (49) | |
Non-current provisions and other non-current liabilities | 9,154 | 8,834 | 9,169 | € 9,578 |
Actuarial losses/(gains) due to changes in financial assumptions | 28 | 106 | (652) | |
Pensions and Other Post-employment Benefits [Member] | ||||
Disclosure of net defined benefit liability (asset) [Line Items] | ||||
Beginning of period | 4,347 | 4,259 | ||
Pre-funded obligations | 53 | 30 | 49 | |
Non-current provisions and other non-current liabilities | 3,959 | 4,377 | 4,308 | |
Current service cost | 233 | 216 | 262 | |
Past service cost | 33 | (2) | 18 | |
Interest cost | (87) | (108) | (108) | |
(Gains)/losses on plan settlements not specified in the terms of the plan | (20) | 2 | ||
Administration costs and taxes paid during the period | 9 | 9 | 13 | |
Actuarial (gains)/losses on plan curtailments | 2 | (52) | (39) | |
Contributions from plan members | (6) | (3) | (4) | |
Expense recognized directly in profit or loss | 338 | 278 | 358 | |
Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses) | 30 | 109 | (650) | |
Expense/(gain) for the period | 368 | 387 | (292) | |
End of period | 3,906 | 4,347 | 4,259 | |
Pensions and Other Post-employment Benefits [Member] | Present Value of Defined Benefit Obligation [Member] | ||||
Disclosure of net defined benefit liability (asset) [Line Items] | ||||
Beginning of period | 13,088 | 12,825 | 13,302 | |
Reclassification of the Animal Health business | (266) | |||
Current service cost | 233 | 216 | 262 | |
Interest cost | 293 | 359 | 362 | |
Actuarial losses/(gains) due to changes in demographic assumptions | (74) | (71) | (37) | |
Actuarial losses/(gains) due to changes in financial assumptions | 543 | 928 | (679) | |
Actuarial losses/(gains) due to experience adjustments | 61 | (18) | (13) | |
Plan amendments | 33 | (2) | 18 | |
Plan curtailments | 2 | (52) | (39) | |
Plan settlements specified in the terms of the plan | (108) | (49) | (61) | |
Plan settlements not specified in the terms of the plan | (90) | (254) | (6) | |
Benefits paid | (574) | (531) | (556) | |
Changes in scope of consolidation and transfers | 145 | 71 | 36 | |
Currency translation differences | (540) | (334) | 502 | |
End of period | 13,012 | 13,088 | 12,825 | |
Pensions and Other Post-employment Benefits [Member] | Plan Assets [Member] | ||||
Disclosure of net defined benefit liability (asset) [Line Items] | ||||
Beginning of period | 8,741 | 8,566 | 8,488 | |
Reclassification of the Animal Health business | (208) | |||
Interest cost | (206) | (251) | (254) | |
Difference between actual return and interest income on plan assets | 501 | 730 | (79) | |
Administration costs and taxes paid during the period | (9) | (9) | (13) | |
Plan settlements specified in the terms of the plan | 109 | 49 | 61 | |
Plan settlements not specified in the terms of the plan | 70 | 256 | 6 | |
Contributions from plan members | 6 | 3 | 4 | |
Employer's contributions | 582 | 168 | 225 | |
Benefits paid | (424) | (405) | (415) | |
Changes in scope of consolidation and transfers | 66 | 86 | ||
Currency translation differences | (384) | (344) | 377 | |
End of period | € 9,106 | € 8,741 | € 8,566 |
Provisions and Other Liabili180
Provisions and Other Liabilities - Net Liability in Respect of Pension Plans and Other Post-employment Benefits by Geographical Region (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of net defined benefit liability (asset) [Line Items] | |||
Measurement of obligation | € 862 | € 1,159 | € 1,030 |
Pensions and Other Post-employment Benefits [Member] | |||
Disclosure of net defined benefit liability (asset) [Line Items] | |||
Measurement of obligation | 13,012 | 13,088 | 12,825 |
Fair value of plan assets | 9,106 | 8,741 | 8,566 |
Net amount shown in the balance sheet at end of period | 3,906 | 4,347 | 4,259 |
France [Member] | |||
Disclosure of net defined benefit liability (asset) [Line Items] | |||
Measurement of obligation | 588 | 933 | 772 |
France [Member] | Pensions and Other Post-employment Benefits [Member] | |||
Disclosure of net defined benefit liability (asset) [Line Items] | |||
Measurement of obligation | 2,363 | 2,361 | 2,270 |
Fair value of plan assets | 991 | 857 | 841 |
Net amount shown in the balance sheet at end of period | 1,372 | 1,504 | 1,429 |
Germany [Member] | Pensions and Other Post-employment Benefits [Member] | |||
Disclosure of net defined benefit liability (asset) [Line Items] | |||
Measurement of obligation | 3,611 | 3,535 | 3,502 |
Fair value of plan assets | 2,390 | 2,304 | 2,216 |
Net amount shown in the balance sheet at end of period | 1,221 | 1,231 | 1,286 |
United States [Member] | Pensions and Other Post-employment Benefits [Member] | |||
Disclosure of net defined benefit liability (asset) [Line Items] | |||
Measurement of obligation | 2,699 | 2,874 | 2,986 |
Fair value of plan assets | 1,775 | 1,760 | 1,806 |
Net amount shown in the balance sheet at end of period | 924 | 1,114 | 1,180 |
UK [Member] | Pensions and Other Post-employment Benefits [Member] | |||
Disclosure of net defined benefit liability (asset) [Line Items] | |||
Measurement of obligation | 3,032 | 3,065 | 2,948 |
Fair value of plan assets | 2,926 | 2,866 | 2,852 |
Net amount shown in the balance sheet at end of period | 106 | 199 | 96 |
Other Countries [Member] | Pensions and Other Post-employment Benefits [Member] | |||
Disclosure of net defined benefit liability (asset) [Line Items] | |||
Measurement of obligation | 1,307 | 1,253 | 1,119 |
Fair value of plan assets | 1,024 | 954 | 851 |
Net amount shown in the balance sheet at end of period | € 283 | € 299 | € 268 |
Provisions and Other Liabili181
Provisions and Other Liabilities - Fair Value of Plans Assets relating to Pension Plans and Other Post-employment Plans (Detail) | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of fair value of plan assets [Line Items] | |||
Percentage contributed to fair value of plan assets | 100.00% | 100.00% | 100.00% |
Securities quoted in an active market [Member] | |||
Disclosure of fair value of plan assets [Line Items] | |||
Percentage contributed to fair value of plan assets | 98.00% | 98.20% | 97.00% |
Cash and cash equivalents [Member] | |||
Disclosure of fair value of plan assets [Line Items] | |||
Percentage contributed to fair value of plan assets | 2.20% | 2.40% | 2.70% |
Equity instruments [Member] | |||
Disclosure of fair value of plan assets [Line Items] | |||
Percentage contributed to fair value of plan assets | 25.20% | 35.20% | 35.60% |
Bonds and similar instruments [Member] | |||
Disclosure of fair value of plan assets [Line Items] | |||
Percentage contributed to fair value of plan assets | 64.10% | 54.30% | 52.80% |
Real estate [Member] | |||
Disclosure of fair value of plan assets [Line Items] | |||
Percentage contributed to fair value of plan assets | 3.30% | 3.80% | 3.50% |
Derivatives [Member] | |||
Disclosure of fair value of plan assets [Line Items] | |||
Percentage contributed to fair value of plan assets | 0.10% | (0.10%) | 0.30% |
Commodities [Member] | |||
Disclosure of fair value of plan assets [Line Items] | |||
Percentage contributed to fair value of plan assets | 0.80% | 1.30% | 1.00% |
Other assets [Member] | |||
Disclosure of fair value of plan assets [Line Items] | |||
Percentage contributed to fair value of plan assets | 2.30% | 1.30% | 1.10% |
Other securities [Member] | |||
Disclosure of fair value of plan assets [Line Items] | |||
Percentage contributed to fair value of plan assets | 2.00% | 1.80% | 3.00% |
Hedge funds [Member] | |||
Disclosure of fair value of plan assets [Line Items] | |||
Percentage contributed to fair value of plan assets | 0.10% | 1.50% | |
Insurance policies [Member] | |||
Disclosure of fair value of plan assets [Line Items] | |||
Percentage contributed to fair value of plan assets | 1.90% | 1.80% | 1.50% |
Provisions and Other Liabili182
Provisions and Other Liabilities - Service Cost for Pension and Other post-employment Benefit Plans, by Geographical Region (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
France [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses) | € 35 | € 70 | € (235) |
Germany [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses) | (33) | 1 | (210) |
United States [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses) | 77 | (161) | (30) |
UK [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses) | (48) | 165 | (144) |
Pensions and Other Post-employment Benefits [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Current service cost | 233 | 216 | 262 |
Past service cost | 33 | (2) | 18 |
Net interest cost/(income) including administration costs and taxes paid during the period | 96 | 117 | 121 |
(Gains)/losses on plan settlements not specified in the terms of the plan | (20) | 2 | |
Actuarial (gains)/losses on plan curtailments | 2 | (52) | (39) |
Contributions from plan members | (6) | (3) | (4) |
Expense recognized directly in profit or loss | 338 | 278 | 358 |
Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses) | 30 | 109 | (650) |
Expense/(gain) for the period | 368 | 387 | (292) |
Pensions and Other Post-employment Benefits [Member] | France [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Current service cost | 74 | 70 | 78 |
Past service cost | 16 | ||
Net interest cost/(income) including administration costs and taxes paid during the period | 22 | 30 | 28 |
(Gains)/losses on plan settlements not specified in the terms of the plan | (17) | ||
Actuarial (gains)/losses on plan curtailments | (6) | (51) | (38) |
Expense recognized directly in profit or loss | 73 | 49 | 84 |
Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses) | 35 | 70 | (235) |
Expense/(gain) for the period | 108 | 119 | (151) |
Pensions and Other Post-employment Benefits [Member] | Germany [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Current service cost | 50 | 42 | 47 |
Past service cost | 1 | ||
Net interest cost/(income) including administration costs and taxes paid during the period | 16 | 23 | 23 |
Actuarial (gains)/losses on plan curtailments | 7 | 2 | |
Expense recognized directly in profit or loss | 73 | 67 | 71 |
Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses) | (33) | 1 | (211) |
Expense/(gain) for the period | 40 | 68 | (140) |
Pensions and Other Post-employment Benefits [Member] | United States [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Current service cost | 53 | 62 | 74 |
Past service cost | 36 | ||
Net interest cost/(income) including administration costs and taxes paid during the period | 40 | 48 | 44 |
(Gains)/losses on plan settlements not specified in the terms of the plan | (2) | ||
Actuarial (gains)/losses on plan curtailments | 8 | ||
Expense recognized directly in profit or loss | 137 | 108 | 118 |
Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses) | 77 | (161) | (30) |
Expense/(gain) for the period | 214 | (53) | 88 |
Pensions and Other Post-employment Benefits [Member] | UK [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Current service cost | 14 | ||
Net interest cost/(income) including administration costs and taxes paid during the period | 8 | 6 | 13 |
Contributions from plan members | (1) | ||
Expense recognized directly in profit or loss | 8 | 6 | 26 |
Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses) | (48) | 165 | (144) |
Expense/(gain) for the period | (40) | 171 | (118) |
Pensions and Other Post-employment Benefits [Member] | Other Countries [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Current service cost | 56 | 42 | 49 |
Past service cost | (3) | (2) | 1 |
Net interest cost/(income) including administration costs and taxes paid during the period | 10 | 10 | 13 |
(Gains)/losses on plan settlements not specified in the terms of the plan | (3) | 4 | |
Actuarial (gains)/losses on plan curtailments | (7) | (3) | (1) |
Contributions from plan members | (6) | (3) | (3) |
Expense recognized directly in profit or loss | 47 | 48 | 59 |
Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses) | (1) | 34 | (30) |
Expense/(gain) for the period | € 46 | € 82 | € 29 |
Provisions and Other Liabili183
Provisions and Other Liabilities - Remeasurement of Net Defined-benefit (Asset)/Liability (Actuarial Gains and Losses) (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of defined benefit plans [Line Items] | |||
Actuarial gains/(losses) arising from financial assumptions | € (28) | € (106) | € 652 |
France [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses) | (35) | (70) | 235 |
Actuarial gains/(losses) on experience adjustments | 35 | 58 | 26 |
Actuarial losses/(gains) due to changes in demographic assumptions | (6) | 10 | |
Actuarial gains/(losses) arising from financial assumptions | (70) | (122) | 199 |
Germany [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses) | 33 | (1) | 210 |
Actuarial gains/(losses) on experience adjustments | 159 | 149 | 16 |
Actuarial gains/(losses) arising from financial assumptions | (126) | (150) | 194 |
United States [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses) | (77) | 161 | 30 |
Actuarial gains/(losses) on experience adjustments | 76 | 77 | (116) |
Actuarial losses/(gains) due to changes in demographic assumptions | 20 | 79 | 46 |
Actuarial gains/(losses) arising from financial assumptions | (173) | 5 | 100 |
UK [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses) | 48 | (165) | 144 |
Actuarial gains/(losses) on experience adjustments | 114 | 442 | 9 |
Actuarial losses/(gains) due to changes in demographic assumptions | 53 | (21) | |
Actuarial gains/(losses) arising from financial assumptions | € (119) | € (607) | € 156 |
Provisions and Other Liabili184
Provisions and Other Liabilities - Total Expense for Pensions and Other Post-employment Benefits Allocated between Income Statement (Detail) - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Disclosure of defined benefit plans [Line Items] | |||||
Cost of sales | [1] | € 11,611 | € 10,702 | € 10,919 | [2] |
Research and development expenses | [1] | 5,472 | 5,172 | 5,082 | [2] |
Selling and general expenses | [1] | 10,058 | 9,486 | 9,382 | [2] |
Restructuring costs | [1] | 731 | 879 | 795 | [2] |
Financial expenses | [1] | 420 | 924 | 559 | [2] |
Pensions and Other Post-employment Benefits [Member] | |||||
Disclosure of defined benefit plans [Line Items] | |||||
Cost of sales | 63 | 60 | 73 | ||
Research and development expenses | 48 | 48 | 58 | ||
Selling and general expenses | 95 | 113 | 132 | ||
Restructuring costs | 45 | (51) | (13) | ||
Financial expenses | 87 | 108 | 108 | ||
Expense recognized directly in profit or loss | € 338 | € 278 | € 358 | ||
[1] | The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36. | ||||
[2] | Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.). |
Provisions and Other Liabili185
Provisions and Other Liabilities - Estimated Amounts of Employer's Contributions to Plan Assets (Detail) - Less than 1 year [Member] € in Millions | 12 Months Ended |
Dec. 31, 2017EUR (€) | |
Disclosure of fair value of plan assets [Line Items] | |
Estimate of contributions expected to be paid to plan for next annual reporting period | € 136 |
France [Member] | |
Disclosure of fair value of plan assets [Line Items] | |
Estimate of contributions expected to be paid to plan for next annual reporting period | 5 |
Germany [Member] | |
Disclosure of fair value of plan assets [Line Items] | |
Estimate of contributions expected to be paid to plan for next annual reporting period | 36 |
United States [Member] | |
Disclosure of fair value of plan assets [Line Items] | |
Estimate of contributions expected to be paid to plan for next annual reporting period | 0 |
UK [Member] | |
Disclosure of fair value of plan assets [Line Items] | |
Estimate of contributions expected to be paid to plan for next annual reporting period | 45 |
Other Countries [Member] | |
Disclosure of fair value of plan assets [Line Items] | |
Estimate of contributions expected to be paid to plan for next annual reporting period | € 50 |
Provisions and Other Liabili186
Provisions and Other Liabilities - Expected Timing of Benefit Payments under Pension and Other Post-employment Benefit Plans (Detail) € in Millions | Dec. 31, 2017EUR (€) |
Less than 1 year [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Estimated future benefit payments under pension and other post-employment benefit plans | € 676 |
Later Than One Year and Not Later Than Two Years [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Estimated future benefit payments under pension and other post-employment benefit plans | 617 |
Later Than Two Years and Not Later Than Three Years [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Estimated future benefit payments under pension and other post-employment benefit plans | 654 |
Later Than Three Years and Not Later Than Four Years [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Estimated future benefit payments under pension and other post-employment benefit plans | 673 |
Later Than Four Years and Not Later Than Five Years [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Estimated future benefit payments under pension and other post-employment benefit plans | 652 |
More Than 5 Years [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Estimated future benefit payments under pension and other post-employment benefit plans | 3,620 |
France [Member] | Less than 1 year [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Estimated future benefit payments under pension and other post-employment benefit plans | 108 |
France [Member] | Later Than One Year and Not Later Than Two Years [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Estimated future benefit payments under pension and other post-employment benefit plans | 90 |
France [Member] | Later Than Two Years and Not Later Than Three Years [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Estimated future benefit payments under pension and other post-employment benefit plans | 111 |
France [Member] | Later Than Three Years and Not Later Than Four Years [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Estimated future benefit payments under pension and other post-employment benefit plans | 118 |
France [Member] | Later Than Four Years and Not Later Than Five Years [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Estimated future benefit payments under pension and other post-employment benefit plans | 91 |
France [Member] | More Than 5 Years [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Estimated future benefit payments under pension and other post-employment benefit plans | 661 |
Germany [Member] | Less than 1 year [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Estimated future benefit payments under pension and other post-employment benefit plans | 202 |
Germany [Member] | Later Than One Year and Not Later Than Two Years [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Estimated future benefit payments under pension and other post-employment benefit plans | 208 |
Germany [Member] | Later Than Two Years and Not Later Than Three Years [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Estimated future benefit payments under pension and other post-employment benefit plans | 213 |
Germany [Member] | Later Than Three Years and Not Later Than Four Years [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Estimated future benefit payments under pension and other post-employment benefit plans | 217 |
Germany [Member] | Later Than Four Years and Not Later Than Five Years [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Estimated future benefit payments under pension and other post-employment benefit plans | 223 |
Germany [Member] | More Than 5 Years [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Estimated future benefit payments under pension and other post-employment benefit plans | 1,128 |
United States [Member] | Less than 1 year [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Estimated future benefit payments under pension and other post-employment benefit plans | 181 |
United States [Member] | Later Than One Year and Not Later Than Two Years [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Estimated future benefit payments under pension and other post-employment benefit plans | 134 |
United States [Member] | Later Than Two Years and Not Later Than Three Years [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Estimated future benefit payments under pension and other post-employment benefit plans | 137 |
United States [Member] | Later Than Three Years and Not Later Than Four Years [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Estimated future benefit payments under pension and other post-employment benefit plans | 140 |
United States [Member] | Later Than Four Years and Not Later Than Five Years [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Estimated future benefit payments under pension and other post-employment benefit plans | 135 |
United States [Member] | More Than 5 Years [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Estimated future benefit payments under pension and other post-employment benefit plans | 690 |
UK [Member] | Less than 1 year [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Estimated future benefit payments under pension and other post-employment benefit plans | 127 |
UK [Member] | Later Than One Year and Not Later Than Two Years [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Estimated future benefit payments under pension and other post-employment benefit plans | 131 |
UK [Member] | Later Than Two Years and Not Later Than Three Years [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Estimated future benefit payments under pension and other post-employment benefit plans | 135 |
UK [Member] | Later Than Three Years and Not Later Than Four Years [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Estimated future benefit payments under pension and other post-employment benefit plans | 139 |
UK [Member] | Later Than Four Years and Not Later Than Five Years [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Estimated future benefit payments under pension and other post-employment benefit plans | 143 |
UK [Member] | More Than 5 Years [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Estimated future benefit payments under pension and other post-employment benefit plans | 784 |
Other Countries [Member] | Less than 1 year [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Estimated future benefit payments under pension and other post-employment benefit plans | 58 |
Other Countries [Member] | Later Than One Year and Not Later Than Two Years [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Estimated future benefit payments under pension and other post-employment benefit plans | 54 |
Other Countries [Member] | Later Than Two Years and Not Later Than Three Years [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Estimated future benefit payments under pension and other post-employment benefit plans | 58 |
Other Countries [Member] | Later Than Three Years and Not Later Than Four Years [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Estimated future benefit payments under pension and other post-employment benefit plans | 59 |
Other Countries [Member] | Later Than Four Years and Not Later Than Five Years [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Estimated future benefit payments under pension and other post-employment benefit plans | 60 |
Other Countries [Member] | More Than 5 Years [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Estimated future benefit payments under pension and other post-employment benefit plans | € 357 |
Provisions and Other Liabili187
Provisions and Other Liabilities - Timing of Future Payments in Respect of Unfunded Pension and Other Post-employment Benefit Plans (Detail) € in Millions | 12 Months Ended |
Dec. 31, 2017EUR (€) | |
Disclosure of defined benefit plans [Line Items] | |
Expected timing of payments in respect of unfunded pension and other post-employment benefit plans | € 1,097 |
Less than 1 year [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Expected timing of payments in respect of unfunded pension and other post-employment benefit plans | 56 |
1 to 3 years [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Expected timing of payments in respect of unfunded pension and other post-employment benefit plans | 108 |
3 to 5 years [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Expected timing of payments in respect of unfunded pension and other post-employment benefit plans | 116 |
More Than 5 Years [Member] | |
Disclosure of defined benefit plans [Line Items] | |
Expected timing of payments in respect of unfunded pension and other post-employment benefit plans | € 817 |
Provisions and Other Liabili188
Provisions and Other Liabilities - Movements in Restructuring Provisions Classified in Non-current and Current Liabilities (Detail) - EUR (€) € in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Disclosure of Restructuring Provisions [line items] | ||||
Balance, beginning of period | € 8,834 | € 9,169 | € 9,578 | |
Classified in current liabilities | 10,175 | 9,442 | ||
Provisions utilized | (981) | (584) | (585) | |
Transfers | (330) | (790) | (328) | |
Reclassification of the Animal Health business | 149 | |||
Currency translation differences | (345) | 61 | 190 | |
Balance, end of period | 9,154 | 8,834 | 9,169 | |
Classified in current liabilities | 9,206 | 10,175 | 9,442 | |
Restructuring Provision [Member] | ||||
Disclosure of Restructuring Provisions [line items] | ||||
Balance, beginning of period | 1,420 | 1,343 | 1,399 | |
Classified in non-currentliabilities | 744 | 762 | 835 | |
Classified in current liabilities | 676 | 581 | 564 | |
Change in provisions recognized in profit or loss for the period | 297 | 667 | 508 | |
Provisions utilized | (616) | (641) | (570) | |
Transfers | 7 | 38 | ||
Reclassification of the Animal Health business | [1] | (12) | ||
Unwinding of discount | 3 | 4 | 6 | |
Currency translation differences | (25) | 9 | 12 | |
Balance, end of period | 1,086 | 1,420 | 1,343 | |
Classified in non-currentliabilities | 514 | 744 | 762 | |
Classified in current liabilities | € 572 | € 676 | € 581 | |
[1] | This line comprises the restructuring provisions of the Animal Health business, reclassified to Liabilities related to assets held for sale or exchange as of December 31, 2015 (see Notes D.1. and D.36.). |
Provisions and Other Liabili189
Provisions and Other Liabilities - Timing of Future Termination Benefit Payments (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of defined benefit plans [Line Items] | |||
Defined benefit obligation, at present value | € 862 | € 1,159 | € 1,030 |
France [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Defined benefit obligation, at present value | 588 | 933 | 772 |
Other Countries [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Defined benefit obligation, at present value | 274 | 226 | 258 |
Less than 1 year [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Defined benefit obligation, at present value | 454 | 556 | 483 |
Less than 1 year [Member] | France [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Defined benefit obligation, at present value | 257 | 374 | 286 |
Less than 1 year [Member] | Other Countries [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Defined benefit obligation, at present value | 197 | 182 | 197 |
1 to 3 years [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Defined benefit obligation, at present value | 351 | 448 | 407 |
1 to 3 years [Member] | France [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Defined benefit obligation, at present value | 281 | 413 | 351 |
1 to 3 years [Member] | Other Countries [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Defined benefit obligation, at present value | 70 | 35 | 56 |
3 to 5 years [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Defined benefit obligation, at present value | 54 | 146 | 122 |
3 to 5 years [Member] | France [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Defined benefit obligation, at present value | 49 | 142 | 120 |
3 to 5 years [Member] | Other Countries [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Defined benefit obligation, at present value | 5 | 4 | 2 |
More Than 5 Years [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Defined benefit obligation, at present value | 3 | 9 | 18 |
More Than 5 Years [Member] | France [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Defined benefit obligation, at present value | 1 | 4 | 15 |
More Than 5 Years [Member] | Other Countries [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Defined benefit obligation, at present value | € 2 | € 5 | € 3 |
Provisions and Other Liabili190
Provisions and Other Liabilities - Summary of Other Provisions (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Other provisions [Abstract] | |||
Tax exposures | € 1,031 | € 1,077 | € 1,530 |
Environment risks and remediation | 686 | 732 | 708 |
Product liability risks, litigation and other | 1,164 | 968 | 908 |
Other provisions | € 2,881 | € 2,777 | € 3,146 |
Provisions and Other Liabili191
Provisions and Other Liabilities - Current Provisions and Other Current Liabilities (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Current provisions and other current liabilities [abstract] | |||
Taxes payable | € 1,180 | € 1,134 | € 1,044 |
Employee-related liabilities | 1,922 | 1,967 | 1,920 |
Restructuring provisions (see Note D.19.2.) | 572 | 676 | 581 |
Interest rate derivatives (see Note D.20.) | 2 | 4 | |
Currency derivatives (see Note D.20.) | 58 | 130 | 78 |
Amounts payable for acquisitions of non-current assets | 387 | 451 | 684 |
Other current liabilities | 5,087 | 5,815 | 5,131 |
Total | € 9,206 | € 10,175 | € 9,442 |
Derivative Financial Instrum192
Derivative Financial Instruments and Market Risks - Summary of Fair Value of Derivative Instruments (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of Credit Risk Exposure [Line Items] | |||
Non-current derivative financial assets | € 63 | € 102 | € 120 |
Current derivative financial assets | 133 | ||
Derivative financial assets | 196 | ||
Non-current derivative financial liabilities | (16) | ||
Current derivative financial liabilities | (58) | ||
Derivative financial liabilities | (74) | ||
Financial instruments designated as hedging instruments, at fair value | 122 | 78 | 133 |
Currency derivatives [Member] | |||
Disclosure of Credit Risk Exposure [Line Items] | |||
Current derivative financial assets | 133 | ||
Derivative financial assets | 133 | ||
Non-current derivative financial liabilities | (4) | ||
Current derivative financial liabilities | (58) | ||
Derivative financial liabilities | (62) | ||
Financial instruments designated as hedging instruments, at fair value | 71 | (22) | (19) |
Currency derivatives, operating [Member] | |||
Disclosure of Credit Risk Exposure [Line Items] | |||
Current derivative financial assets | 28 | ||
Derivative financial assets | 28 | ||
Current derivative financial liabilities | (25) | ||
Derivative financial liabilities | (25) | ||
Financial instruments designated as hedging instruments, at fair value | 3 | (25) | 16 |
Currency derivatives, financial [Member] | |||
Disclosure of Credit Risk Exposure [Line Items] | |||
Current derivative financial assets | 105 | ||
Derivative financial assets | 105 | ||
Non-current derivative financial liabilities | (4) | ||
Current derivative financial liabilities | (33) | ||
Derivative financial liabilities | (37) | ||
Financial instruments designated as hedging instruments, at fair value | 68 | 3 | (35) |
Interest rate derivatives [Member] | |||
Disclosure of Credit Risk Exposure [Line Items] | |||
Non-current derivative financial assets | 63 | ||
Derivative financial assets | 63 | ||
Non-current derivative financial liabilities | (12) | ||
Derivative financial liabilities | (12) | ||
Financial instruments designated as hedging instruments, at fair value | € 51 | € 100 | € 152 |
Derivative Financial Instrum193
Derivative Financial Instruments and Market Risks - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2017EUR (€)Counterparty | Dec. 31, 2016EUR (€) | Dec. 31, 2015EUR (€) | |
Disclosure of risk management strategy related to hedge accounting [Abstract] | |||
Material embedded derivatives | € | € 0 | € 0 | € 0 |
Percentage of notional amount of entity's overall currency and interest rate positions | 16.00% | ||
Number of counter party above percentage set | Counterparty | 0 |
Derivative Financial Instrum194
Derivative Financial Instruments and Market Risks - Summary of Operating Currency Hedging Instruments (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Notional amount [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | € 5,241 | € 5,480 | € 3,047 |
Notional amount [Member] | Forward currency sales [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 3,592 | 3,963 | 2,142 |
Notional amount [Member] | Forward currency sales in USD [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 1,043 | 1,850 | 672 |
Notional amount [Member] | Forward currency sales in Singapore Dollar [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 870 | 156 | 114 |
Notional amount [Member] | Forward currency sales in Chinese Yuan Renminbi [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 327 | 453 | 339 |
Notional amount [Member] | Forward currency sales in Japanese Yen [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 248 | 206 | 159 |
Notional amount [Member] | Forward currency sales in Saudi Riyal [member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 144 | ||
Notional amount [Member] | Forward currency purchases [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 1,649 | 1,517 | 905 |
Notional amount [Member] | Forward currency purchases in Japanese Yen [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 373 | 283 | |
Notional amount [Member] | Forward currency purchases in Singapore Dollar [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 360 | 233 | 104 |
Notional amount [Member] | Forward currency purchases in USD [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 205 | 400 | 204 |
Notional amount [Member] | Forward currency purchases in Chinese Yuan Renminbi [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 196 | 86 | |
Notional amount [Member] | Forward currency purchases in Hungarian Forint [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 81 | 82 | 90 |
Notional amount [Member] | Forward currency sales in Russian Rouble [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 130 | ||
Notional amount [Member] | Forward currency purchases in Russian Rouble [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 109 | ||
Notional amount [Member] | Forward currency sales in Swiss Franc [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 253 | ||
Notional amount [Member] | Forward currency purchases in Swiss Franc [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 84 | ||
Notional amount [Member] | Not eligible for hedge accounting [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 5,241 | 5,480 | 3,047 |
Notional amount [Member] | Not eligible for hedge accounting [Member] | Forward currency sales [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 3,592 | 3,963 | 2,142 |
Notional amount [Member] | Not eligible for hedge accounting [Member] | Forward currency sales in USD [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 1,043 | 1,850 | 672 |
Notional amount [Member] | Not eligible for hedge accounting [Member] | Forward currency sales in Singapore Dollar [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 870 | 156 | 114 |
Notional amount [Member] | Not eligible for hedge accounting [Member] | Forward currency sales in Chinese Yuan Renminbi [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 327 | 453 | 339 |
Notional amount [Member] | Not eligible for hedge accounting [Member] | Forward currency sales in Japanese Yen [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 248 | 206 | 159 |
Notional amount [Member] | Not eligible for hedge accounting [Member] | Forward currency sales in Saudi Riyal [member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 144 | ||
Notional amount [Member] | Not eligible for hedge accounting [Member] | Forward currency purchases [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 1,649 | 1,517 | 905 |
Notional amount [Member] | Not eligible for hedge accounting [Member] | Forward currency purchases in Japanese Yen [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 373 | 283 | |
Notional amount [Member] | Not eligible for hedge accounting [Member] | Forward currency purchases in Singapore Dollar [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 360 | 233 | 104 |
Notional amount [Member] | Not eligible for hedge accounting [Member] | Forward currency purchases in USD [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 205 | 400 | 204 |
Notional amount [Member] | Not eligible for hedge accounting [Member] | Forward currency purchases in Chinese Yuan Renminbi [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 196 | 86 | |
Notional amount [Member] | Not eligible for hedge accounting [Member] | Forward currency purchases in Hungarian Forint [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 81 | 82 | 90 |
Notional amount [Member] | Not eligible for hedge accounting [Member] | Forward currency sales in Russian Rouble [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 130 | ||
Notional amount [Member] | Not eligible for hedge accounting [Member] | Forward currency purchases in Russian Rouble [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 109 | ||
Notional amount [Member] | Not eligible for hedge accounting [Member] | Forward currency sales in Swiss Franc [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 253 | ||
Notional amount [Member] | Not eligible for hedge accounting [Member] | Forward currency purchases in Swiss Franc [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 84 | ||
Fair value [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 3 | (25) | 16 |
Fair value [Member] | Forward currency sales [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 11 | (25) | 27 |
Fair value [Member] | Forward currency sales in USD [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 15 | (17) | (2) |
Fair value [Member] | Forward currency sales in Singapore Dollar [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 1 | 1 | |
Fair value [Member] | Forward currency sales in Chinese Yuan Renminbi [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | (1) | (2) | 1 |
Fair value [Member] | Forward currency sales in Japanese Yen [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 1 | 5 | (1) |
Fair value [Member] | Forward currency sales in Saudi Riyal [member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 2 | ||
Fair value [Member] | Forward currency purchases [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | (8) | (11) | |
Fair value [Member] | Forward currency purchases in Japanese Yen [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | (3) | (2) | |
Fair value [Member] | Forward currency purchases in Singapore Dollar [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | (4) | 1 | (1) |
Fair value [Member] | Forward currency purchases in USD [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | (2) | 1 | |
Fair value [Member] | Forward currency purchases in Chinese Yuan Renminbi [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 2 | ||
Fair value [Member] | Forward currency purchases in Hungarian Forint [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 1 | (1) | |
Fair value [Member] | Forward currency sales in Russian Rouble [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 22 | ||
Fair value [Member] | Forward currency purchases in Russian Rouble [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | (9) | ||
Fair value [Member] | Forward currency sales in Swiss Franc [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | (1) | ||
Fair value [Member] | Not eligible for hedge accounting [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 3 | (25) | 16 |
Fair value [Member] | Not eligible for hedge accounting [Member] | Forward currency sales [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 11 | (25) | 27 |
Fair value [Member] | Not eligible for hedge accounting [Member] | Forward currency sales in USD [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 15 | (17) | (2) |
Fair value [Member] | Not eligible for hedge accounting [Member] | Forward currency sales in Singapore Dollar [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 1 | 1 | |
Fair value [Member] | Not eligible for hedge accounting [Member] | Forward currency sales in Chinese Yuan Renminbi [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | (1) | (2) | 1 |
Fair value [Member] | Not eligible for hedge accounting [Member] | Forward currency sales in Japanese Yen [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 1 | 5 | (1) |
Fair value [Member] | Not eligible for hedge accounting [Member] | Forward currency sales in Saudi Riyal [member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 2 | ||
Fair value [Member] | Not eligible for hedge accounting [Member] | Forward currency purchases [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | (8) | (11) | |
Fair value [Member] | Not eligible for hedge accounting [Member] | Forward currency purchases in Japanese Yen [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | (3) | (2) | |
Fair value [Member] | Not eligible for hedge accounting [Member] | Forward currency purchases in Singapore Dollar [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | (4) | 1 | (1) |
Fair value [Member] | Not eligible for hedge accounting [Member] | Forward currency purchases in USD [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | (2) | 1 | |
Fair value [Member] | Not eligible for hedge accounting [Member] | Forward currency purchases in Chinese Yuan Renminbi [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 2 | ||
Fair value [Member] | Not eligible for hedge accounting [Member] | Forward currency purchases in Hungarian Forint [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | € 1 | (1) | |
Fair value [Member] | Not eligible for hedge accounting [Member] | Forward currency sales in Russian Rouble [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | 22 | ||
Fair value [Member] | Not eligible for hedge accounting [Member] | Forward currency purchases in Russian Rouble [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | € (9) | ||
Fair value [Member] | Not eligible for hedge accounting [Member] | Forward currency sales in Swiss Franc [Member] | |||
Disclosure of Information about Credit Exposures Designated as Measured at Fair Value Through Profit or Loss [Line Items] | |||
Derivative financial instruments | € (1) |
Derivative Financial Instrum195
Derivative Financial Instruments and Market Risks - Disclosure of Financial Currency Hedging Instruments in Place with Notional Amount Translated (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Notional amount [Member] | |||
Disclosure of Information about Terms and Conditions of Hedging Instruments and How They Affect Future Cash Flows [Line Items] | |||
Derivative financial instruments to manage financial exposure | € 9,731 | € 11,278 | € 6,095 |
Notional amount [Member] | Forward currency sales [Member] | |||
Disclosure of Information about Terms and Conditions of Hedging Instruments and How They Affect Future Cash Flows [Line Items] | |||
Derivative financial instruments to manage financial exposure | 5,074 | 5,298 | 3,472 |
Notional amount [Member] | Forward currency sales in USD [Member] | Less than 1 year [Member] | |||
Disclosure of Information about Terms and Conditions of Hedging Instruments and How They Affect Future Cash Flows [Line Items] | |||
Derivative financial instruments to manage financial exposure | 3,542 | 3,356 | 2,171 |
Notional amount [Member] | Forward currency sales in Japanese Yen [Member] | Less than 1 year [Member] | |||
Disclosure of Information about Terms and Conditions of Hedging Instruments and How They Affect Future Cash Flows [Line Items] | |||
Derivative financial instruments to manage financial exposure | 867 | 1,036 | 612 |
Notional amount [Member] | Forward currency sales in Australian Dollar [Member] | Less than 1 year [Member] | |||
Disclosure of Information about Terms and Conditions of Hedging Instruments and How They Affect Future Cash Flows [Line Items] | |||
Derivative financial instruments to manage financial exposure | 281 | 254 | 266 |
Notional amount [Member] | Forward currency purchases [Member] | |||
Disclosure of Information about Terms and Conditions of Hedging Instruments and How They Affect Future Cash Flows [Line Items] | |||
Derivative financial instruments to manage financial exposure | 4,657 | 5,980 | 2,623 |
Notional amount [Member] | Forward currency purchases in Singapore Dollar [Member] | Less than 1 year [Member] | |||
Disclosure of Information about Terms and Conditions of Hedging Instruments and How They Affect Future Cash Flows [Line Items] | |||
Derivative financial instruments to manage financial exposure | 2,281 | 878 | 310 |
Notional amount [Member] | Forward currency purchased in Canadian Dollar [Member] | Less than 1 year [Member] | |||
Disclosure of Information about Terms and Conditions of Hedging Instruments and How They Affect Future Cash Flows [Line Items] | |||
Derivative financial instruments to manage financial exposure | 907 | 145 | |
Notional amount [Member] | Forward currency purchases in Czech Koruna [Member] | Less than 1 year [Member] | |||
Disclosure of Information about Terms and Conditions of Hedging Instruments and How They Affect Future Cash Flows [Line Items] | |||
Derivative financial instruments to manage financial exposure | 431 | 332 | 245 |
Fair value [Member] | |||
Disclosure of Information about Terms and Conditions of Hedging Instruments and How They Affect Future Cash Flows [Line Items] | |||
Derivative financial instruments to manage financial exposure | 68 | 3 | (35) |
Fair value [Member] | Forward currency sales [Member] | |||
Disclosure of Information about Terms and Conditions of Hedging Instruments and How They Affect Future Cash Flows [Line Items] | |||
Derivative financial instruments to manage financial exposure | 86 | (28) | (44) |
Fair value [Member] | Forward currency sales in USD [Member] | Less than 1 year [Member] | |||
Disclosure of Information about Terms and Conditions of Hedging Instruments and How They Affect Future Cash Flows [Line Items] | |||
Derivative financial instruments to manage financial exposure | 50 | (37) | (30) |
Fair value [Member] | Forward currency sales in Japanese Yen [Member] | Less than 1 year [Member] | |||
Disclosure of Information about Terms and Conditions of Hedging Instruments and How They Affect Future Cash Flows [Line Items] | |||
Derivative financial instruments to manage financial exposure | 34 | (9) | |
Fair value [Member] | Forward currency sales in Australian Dollar [Member] | Less than 1 year [Member] | |||
Disclosure of Information about Terms and Conditions of Hedging Instruments and How They Affect Future Cash Flows [Line Items] | |||
Derivative financial instruments to manage financial exposure | 1 | 5 | (4) |
Fair value [Member] | Forward currency purchases [Member] | |||
Disclosure of Information about Terms and Conditions of Hedging Instruments and How They Affect Future Cash Flows [Line Items] | |||
Derivative financial instruments to manage financial exposure | (18) | 31 | 9 |
Fair value [Member] | Forward currency purchases in Singapore Dollar [Member] | Less than 1 year [Member] | |||
Disclosure of Information about Terms and Conditions of Hedging Instruments and How They Affect Future Cash Flows [Line Items] | |||
Derivative financial instruments to manage financial exposure | (23) | 5 | |
Fair value [Member] | Forward currency purchased in Canadian Dollar [Member] | Less than 1 year [Member] | |||
Disclosure of Information about Terms and Conditions of Hedging Instruments and How They Affect Future Cash Flows [Line Items] | |||
Derivative financial instruments to manage financial exposure | 6 | (1) | |
Fair value [Member] | Forward currency purchases in Czech Koruna [Member] | Less than 1 year [Member] | |||
Disclosure of Information about Terms and Conditions of Hedging Instruments and How They Affect Future Cash Flows [Line Items] | |||
Derivative financial instruments to manage financial exposure | € 6 | € (1) | € (1) |
Derivative Financial Instrum196
Derivative Financial Instruments and Market Risks - Disclosure of Instruments (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
As of December 31, 2017 [Member] | Notional amount [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | € 4,283 | ||
As of December 31, 2017 [Member] | Notional amount [Member] | Fair value hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 3,767 | ||
As of December 31, 2017 [Member] | Notional amount [Member] | Cash flow hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 417 | ||
As of December 31, 2017 [Member] | Notional amount [Member] | Later Than Two Years and Not Later Than Three Years [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 1,550 | ||
As of December 31, 2017 [Member] | Notional amount [Member] | Later Than Three Years and Not Later Than Four Years [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 834 | ||
As of December 31, 2017 [Member] | Notional amount [Member] | More Than 5 Years [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 1,842 | ||
As of December 31, 2017 [Member] | Notional amount [Member] | Notional Amounts by Expiry Date as of 2023 [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 57 | ||
As of December 31, 2017 [Member] | Fair value [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 51 | ||
As of December 31, 2017 [Member] | Fair value [Member] | Fair value hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 55 | ||
As of December 31, 2017 [Member] | Fair value [Member] | Cash flow hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 2 | ||
As of December 31, 2016 [Member] | Notional amount [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | € 3,228 | ||
As of December 31, 2016 [Member] | Notional amount [Member] | Fair value hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 2,753 | ||
As of December 31, 2016 [Member] | Notional amount [Member] | Cash flow hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 475 | ||
As of December 31, 2016 [Member] | Notional amount [Member] | Less than 1 year [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 903 | ||
As of December 31, 2016 [Member] | Notional amount [Member] | Later Than Two Years and Not Later Than Three Years [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 1,550 | ||
As of December 31, 2016 [Member] | Notional amount [Member] | Later Than Three Years and Not Later Than Four Years [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 475 | ||
As of December 31, 2016 [Member] | Notional amount [Member] | More Than 5 Years [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 300 | ||
As of December 31, 2016 [Member] | Fair value [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 100 | ||
As of December 31, 2016 [Member] | Fair value [Member] | Fair value hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 102 | ||
As of December 31, 2016 [Member] | Fair value [Member] | Cash flow hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | (2) | ||
As of December 31, 2015 [Member] | Notional amount [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | € 4,663 | ||
As of December 31, 2015 [Member] | Notional amount [Member] | Fair value hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 3,509 | ||
As of December 31, 2015 [Member] | Notional amount [Member] | Cash flow hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 459 | ||
As of December 31, 2015 [Member] | Notional amount [Member] | Less than 1 year [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 1,767 | ||
As of December 31, 2015 [Member] | Notional amount [Member] | Later Than Two Years and Not Later Than Three Years [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 887 | ||
As of December 31, 2015 [Member] | Notional amount [Member] | Later Than Three Years and Not Later Than Four Years [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 1,550 | ||
As of December 31, 2015 [Member] | Notional amount [Member] | Later Than Four Years and Not Later Than Five Years [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 459 | ||
As of December 31, 2015 [Member] | Fair value [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 152 | ||
As of December 31, 2015 [Member] | Fair value [Member] | Fair value hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 156 | ||
As of December 31, 2015 [Member] | Fair value [Member] | Cash flow hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | (2) | ||
As of December 31, 2015 [Member] | Of which recognized in equity [Member] | Cash flow hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | (1) | ||
Interest rate swaps pay capitalized Eonia / receive 1.58 percent [Member] | As of December 31, 2017 [Member] | Notional amount [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 1,550 | ||
Interest rate swaps pay capitalized Eonia / receive 1.58 percent [Member] | As of December 31, 2017 [Member] | Notional amount [Member] | Fair value hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 1,550 | ||
Interest rate swaps pay capitalized Eonia / receive 1.58 percent [Member] | As of December 31, 2017 [Member] | Notional amount [Member] | Later Than Two Years and Not Later Than Three Years [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 1,550 | ||
Interest rate swaps pay capitalized Eonia / receive 1.58 percent [Member] | As of December 31, 2017 [Member] | Fair value [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 58 | ||
Interest rate swaps pay capitalized Eonia / receive 1.58 percent [Member] | As of December 31, 2017 [Member] | Fair value [Member] | Fair value hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 58 | ||
Interest rate swaps pay capitalized Eonia / receive 1.58 percent [Member] | As of December 31, 2016 [Member] | Notional amount [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 1,550 | ||
Interest rate swaps pay capitalized Eonia / receive 1.58 percent [Member] | As of December 31, 2016 [Member] | Notional amount [Member] | Fair value hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 1,550 | ||
Interest rate swaps pay capitalized Eonia / receive 1.58 percent [Member] | As of December 31, 2016 [Member] | Notional amount [Member] | Later Than Two Years and Not Later Than Three Years [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 1,550 | ||
Interest rate swaps pay capitalized Eonia / receive 1.58 percent [Member] | As of December 31, 2016 [Member] | Fair value [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 88 | ||
Interest rate swaps pay capitalized Eonia / receive 1.58 percent [Member] | As of December 31, 2016 [Member] | Fair value [Member] | Fair value hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 88 | ||
Interest rate swaps pay capitalized Eonia / receive 0.06% [Member] | As of December 31, 2017 [Member] | Notional amount [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 1,800 | ||
Interest rate swaps pay capitalized Eonia / receive 0.06% [Member] | As of December 31, 2017 [Member] | Notional amount [Member] | Fair value hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 1,800 | ||
Interest rate swaps pay capitalized Eonia / receive 0.06% [Member] | As of December 31, 2017 [Member] | Notional amount [Member] | More Than 5 Years [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 1,800 | ||
Interest rate swaps pay capitalized Eonia / receive 0.06% [Member] | As of December 31, 2017 [Member] | Fair value [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | (6) | ||
Interest rate swaps pay capitalized Eonia / receive 0.06% [Member] | As of December 31, 2017 [Member] | Fair value [Member] | Fair value hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | (6) | ||
Interest rate swaps pay 1.81% / receive 3-month US dollar Libor [Member] | As of December 31, 2017 [Member] | Notional amount [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 417 | ||
Interest rate swaps pay 1.81% / receive 3-month US dollar Libor [Member] | As of December 31, 2017 [Member] | Notional amount [Member] | Cash flow hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 417 | ||
Interest rate swaps pay 1.81% / receive 3-month US dollar Libor [Member] | As of December 31, 2017 [Member] | Notional amount [Member] | Later Than Three Years and Not Later Than Four Years [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 417 | ||
Interest rate swaps pay 1.81% / receive 3-month US dollar Libor [Member] | As of December 31, 2017 [Member] | Fair value [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 2 | ||
Interest rate swaps pay 1.81% / receive 3-month US dollar Libor [Member] | As of December 31, 2017 [Member] | Fair value [Member] | Cash flow hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 2 | ||
Interest rate swaps pay 3-month US dollar Libor / receive 2.22 % [Member] | As of December 31, 2017 [Member] | Notional amount [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 417 | ||
Interest rate swaps pay 3-month US dollar Libor / receive 2.22 % [Member] | As of December 31, 2017 [Member] | Notional amount [Member] | Fair value hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 417 | ||
Interest rate swaps pay 3-month US dollar Libor / receive 2.22 % [Member] | As of December 31, 2017 [Member] | Notional amount [Member] | Later Than Three Years and Not Later Than Four Years [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 417 | ||
Interest rate swaps pay 3-month US dollar Libor / receive 2.22 % [Member] | As of December 31, 2017 [Member] | Fair value [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 3 | ||
Interest rate swaps pay 3-month US dollar Libor / receive 2.22 % [Member] | As of December 31, 2017 [Member] | Fair value [Member] | Fair value hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 3 | ||
Interest rate swaps pay capitalized Eonia / receive 1.48% [Member] | As of December 31, 2017 [Member] | Notional amount [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 99 | ||
Interest rate swaps pay capitalized Eonia / receive 1.48% [Member] | As of December 31, 2017 [Member] | Notional amount [Member] | More Than 5 Years [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 42 | ||
Interest rate swaps pay capitalized Eonia / receive 1.48% [Member] | As of December 31, 2017 [Member] | Notional amount [Member] | Notional Amounts by Expiry Date as of 2023 [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 57 | ||
Interest rate swaps pay capitalized Eonia / receive 1.48% [Member] | As of December 31, 2017 [Member] | Fair value [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | € (6) | ||
Interest rate swaps pay 3-month Euribor / receive 1.15% [Member] | As of December 31, 2016 [Member] | Notional amount [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 428 | ||
Interest rate swaps pay 3-month Euribor / receive 1.15% [Member] | As of December 31, 2016 [Member] | Notional amount [Member] | Fair value hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 428 | ||
Interest rate swaps pay 3-month Euribor / receive 1.15% [Member] | As of December 31, 2016 [Member] | Notional amount [Member] | Less than 1 year [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 428 | ||
Interest rate swaps pay 3-month Euribor / receive 1.15% [Member] | As of December 31, 2016 [Member] | Fair value [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 3 | ||
Interest rate swaps pay 3-month Euribor / receive 1.15% [Member] | As of December 31, 2016 [Member] | Fair value [Member] | Fair value hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 3 | ||
Interest rate swaps pay 3-month Euribor / receive 1.15% [Member] | As of December 31, 2015 [Member] | Notional amount [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 428 | ||
Interest rate swaps pay 3-month Euribor / receive 1.15% [Member] | As of December 31, 2015 [Member] | Notional amount [Member] | Later Than Two Years and Not Later Than Three Years [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 428 | ||
Interest rate swaps pay 3-month Euribor / receive 1.15% [Member] | As of December 31, 2015 [Member] | Fair value [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 3 | ||
Interest rate swaps pay 3-month US dollar Libor / receive 2.22% [Member] | As of December 31, 2016 [Member] | Notional amount [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 475 | ||
Interest rate swaps pay 3-month US dollar Libor / receive 2.22% [Member] | As of December 31, 2016 [Member] | Notional amount [Member] | Fair value hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 475 | ||
Interest rate swaps pay 3-month US dollar Libor / receive 2.22% [Member] | As of December 31, 2016 [Member] | Notional amount [Member] | Later Than Three Years and Not Later Than Four Years [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 475 | ||
Interest rate swaps pay 3-month US dollar Libor / receive 2.22% [Member] | As of December 31, 2016 [Member] | Fair value [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 10 | ||
Interest rate swaps pay 3-month US dollar Libor / receive 2.22% [Member] | As of December 31, 2016 [Member] | Fair value [Member] | Fair value hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 10 | ||
Interest rate swaps pay 3-month US dollar Libor / receive 2.22% [Member] | As of December 31, 2015 [Member] | Notional amount [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 459 | ||
Interest rate swaps pay 3-month US dollar Libor / receive 2.22% [Member] | As of December 31, 2015 [Member] | Notional amount [Member] | Fair value hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 459 | ||
Interest rate swaps pay 3-month US dollar Libor / receive 2.22% [Member] | As of December 31, 2015 [Member] | Notional amount [Member] | Later Than Four Years and Not Later Than Five Years [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 459 | ||
Interest rate swaps pay 3-month US dollar Libor / receive 2.22% [Member] | As of December 31, 2015 [Member] | Fair value [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 14 | ||
Interest rate swaps pay 3-month US dollar Libor / receive 2.22% [Member] | As of December 31, 2015 [Member] | Fair value [Member] | Fair value hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 14 | ||
Interest rate swaps pay capitalized Eonia / receive -0.01% [Member] | As of December 31, 2016 [Member] | Notional amount [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 300 | ||
Interest rate swaps pay capitalized Eonia / receive -0.01% [Member] | As of December 31, 2016 [Member] | Notional amount [Member] | Fair value hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 300 | ||
Interest rate swaps pay capitalized Eonia / receive -0.01% [Member] | As of December 31, 2016 [Member] | Notional amount [Member] | More Than 5 Years [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 300 | ||
Interest rate swaps pay capitalized Eonia / receive -0.01% [Member] | As of December 31, 2016 [Member] | Fair value [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 1 | ||
Interest rate swaps pay capitalized Eonia / receive -0.01% [Member] | As of December 31, 2016 [Member] | Fair value [Member] | Fair value hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 1 | ||
Interest rate swaps pay 1.22% / receive 3-month & 6-month US dollar Libor [Member] | As of December 31, 2016 [Member] | Notional amount [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 475 | ||
Interest rate swaps pay 1.22% / receive 3-month & 6-month US dollar Libor [Member] | As of December 31, 2016 [Member] | Notional amount [Member] | Cash flow hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 475 | ||
Interest rate swaps pay 1.22% / receive 3-month & 6-month US dollar Libor [Member] | As of December 31, 2016 [Member] | Notional amount [Member] | Less than 1 year [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 475 | ||
Interest rate swaps pay 1.22% / receive 3-month & 6-month US dollar Libor [Member] | As of December 31, 2016 [Member] | Fair value [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | (2) | ||
Interest rate swaps pay 1.22% / receive 3-month & 6-month US dollar Libor [Member] | As of December 31, 2016 [Member] | Fair value [Member] | Cash flow hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | € (2) | ||
Interest rate swaps pay 1.22% / receive 3-month & 6-month US dollar Libor [Member] | As of December 31, 2015 [Member] | Notional amount [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 459 | ||
Interest rate swaps pay 1.22% / receive 3-month & 6-month US dollar Libor [Member] | As of December 31, 2015 [Member] | Notional amount [Member] | Cash flow hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 459 | ||
Interest rate swaps pay 1.22% / receive 3-month & 6-month US dollar Libor [Member] | As of December 31, 2015 [Member] | Notional amount [Member] | Later Than Two Years and Not Later Than Three Years [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 459 | ||
Interest rate swaps pay 1.22% / receive 3-month & 6-month US dollar Libor [Member] | As of December 31, 2015 [Member] | Fair value [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | (2) | ||
Interest rate swaps pay 1.22% / receive 3-month & 6-month US dollar Libor [Member] | As of December 31, 2015 [Member] | Fair value [Member] | Cash flow hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | (2) | ||
Interest rate swaps pay 1.22% / receive 3-month & 6-month US dollar Libor [Member] | As of December 31, 2015 [Member] | Of which recognized in equity [Member] | Cash flow hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | (1) | ||
Interest rate swaps pay 1-month Euribor +0.26% / receive 2.73% [Member] | As of December 31, 2015 [Member] | Notional amount [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 500 | ||
Interest rate swaps pay 1-month Euribor +0.26% / receive 2.73% [Member] | As of December 31, 2015 [Member] | Notional amount [Member] | Fair value hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 500 | ||
Interest rate swaps pay 1-month Euribor +0.26% / receive 2.73% [Member] | As of December 31, 2015 [Member] | Notional amount [Member] | Less than 1 year [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 500 | ||
Interest rate swaps pay 1-month Euribor +0.26% / receive 2.73% [Member] | As of December 31, 2015 [Member] | Fair value [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 14 | ||
Interest rate swaps pay 1-month Euribor +0.26% / receive 2.73% [Member] | As of December 31, 2015 [Member] | Fair value [Member] | Fair value hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 14 | ||
Interest rate swaps pay capitalized Eonia / receive 1.90% [Member] | As of December 31, 2015 [Member] | Notional amount [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 2,550 | ||
Interest rate swaps pay capitalized Eonia / receive 1.90% [Member] | As of December 31, 2015 [Member] | Notional amount [Member] | Fair value hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 2,550 | ||
Interest rate swaps pay capitalized Eonia / receive 1.90% [Member] | As of December 31, 2015 [Member] | Notional amount [Member] | Less than 1 year [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 1,000 | ||
Interest rate swaps pay capitalized Eonia / receive 1.90% [Member] | As of December 31, 2015 [Member] | Notional amount [Member] | Later Than Three Years and Not Later Than Four Years [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 1,550 | ||
Interest rate swaps pay capitalized Eonia / receive 1.90% [Member] | As of December 31, 2015 [Member] | Fair value [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 128 | ||
Interest rate swaps pay capitalized Eonia / receive 1.90% [Member] | As of December 31, 2015 [Member] | Fair value [Member] | Fair value hedges [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 128 | ||
Currency swaps hedging investments pay JPY / receive Euro [Member] | As of December 31, 2015 [Member] | Notional amount [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 175 | ||
Currency swaps hedging investments pay JPY / receive Euro [Member] | As of December 31, 2015 [Member] | Notional amount [Member] | Less than 1 year [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 175 | ||
Currency swaps hedging investments pay JPY / receive Euro [Member] | As of December 31, 2015 [Member] | Fair value [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | (4) | ||
Currency swaps hedging investments pay USD / receive Euro [Member] | As of December 31, 2015 [Member] | Notional amount [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 92 | ||
Currency swaps hedging investments pay USD / receive Euro [Member] | As of December 31, 2015 [Member] | Notional amount [Member] | Less than 1 year [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | 92 | ||
Currency swaps hedging investments pay USD / receive Euro [Member] | As of December 31, 2015 [Member] | Fair value [Member] | |||
Disclosure of Detailed Information About Financial Instruments [Line Items] | |||
Currency and interest rate derivatives used to manage debt, net of cash and cash equivalents | € (1) |
Derivative Financial Instrum197
Derivative Financial Instruments and Market Risks - Disclosure of Potential Effects of Netting Arrangements (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Net financial assets subject to offsetting, enforceable master netting arrangements or similar agreements [Abstract] | |||
Gross financial assets subject to offsetting, enforceable master netting arrangements or similar agreements | € 196 | € 210 | € 218 |
Gross financial assets set off against financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements | 0 | 0 | 0 |
Net financial assets subject to offsetting, enforceable master netting arrangements or similar agreements in statement of financial position | 196 | 210 | 218 |
Financial instruments subject to enforceable master netting arrangement or similar agreement not set off against financial assets | (67) | (97) | (66) |
Net financial assets subject to offsetting, enforceable master netting arrangements or similar agreements | 129 | 113 | 152 |
Gross financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements | (74) | (132) | (85) |
Gross financial liabilities set off against financial assets subject to offsetting, enforceable master netting arrangements or similar agreements | 0 | 0 | 0 |
Net financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements in statement of financial position | (74) | (132) | (85) |
Financial instruments subject to enforceable master netting arrangement or similar agreement not set off against financial liabilities | 67 | 97 | 66 |
Net financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements | € (7) | € (35) | € (19) |
Off-balance Sheet Commitments -
Off-balance Sheet Commitments - Summary of Off Balance Sheet Commitments Relating to Operating Activities (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of finance lease and operating lease by lessee [Line Items] | |||
Operating leases | € 1,452 | € 1,507 | € 1,567 |
Irrevocable purchase commitments given | 5,500 | ||
Irrevocable purchase commitments received | (181) | ||
Research and development license agreements - commitments related to R&D and other commitments | 951 | 1,572 | |
Research and development license agreements - potential milestone payments | 1,907 | € 2,072 | |
Firm commitments under the agreement with BMS | 97 | ||
Total | 9,726 | ||
Less than 1 year [Member] | |||
Disclosure of finance lease and operating lease by lessee [Line Items] | |||
Operating leases | 294 | ||
Irrevocable purchase commitments given | 3,101 | ||
Irrevocable purchase commitments received | (87) | ||
Research and development license agreements - commitments related to R&D and other commitments | 577 | ||
Research and development license agreements - potential milestone payments | 84 | ||
Firm commitments under the agreement with BMS | 97 | ||
Total | 4,066 | ||
1 to 3 years [Member] | |||
Disclosure of finance lease and operating lease by lessee [Line Items] | |||
Operating leases | 407 | ||
Irrevocable purchase commitments given | 1,021 | ||
Irrevocable purchase commitments received | (56) | ||
Research and development license agreements - commitments related to R&D and other commitments | 342 | ||
Research and development license agreements - potential milestone payments | 246 | ||
Total | 1,960 | ||
3 to 5 years [Member] | |||
Disclosure of finance lease and operating lease by lessee [Line Items] | |||
Operating leases | 284 | ||
Irrevocable purchase commitments given | 483 | ||
Irrevocable purchase commitments received | (10) | ||
Research and development license agreements - commitments related to R&D and other commitments | 10 | ||
Research and development license agreements - potential milestone payments | 941 | ||
Total | 1,708 | ||
More Than 5 Years [Member] | |||
Disclosure of finance lease and operating lease by lessee [Line Items] | |||
Operating leases | 467 | ||
Irrevocable purchase commitments given | 895 | ||
Irrevocable purchase commitments received | (28) | ||
Research and development license agreements - commitments related to R&D and other commitments | 22 | ||
Research and development license agreements - potential milestone payments | 636 | ||
Total | € 1,992 |
Off-balance Sheet Commitment199
Off-balance Sheet Commitments - Summary of Off Balance Sheet Commitments Relating to Operating Activities (Parenthetical) (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of finance lease and operating lease by lessee [Line Items] | |||
Operating leases | € 1,452 | € 1,507 | € 1,567 |
Irrevocable purchase commitments given | 5,500 | ||
Irrevocable purchase commitments received | (181) | ||
Research and development license agrrements - commitments related to R and D and other commitments | 951 | 1,572 | |
Research and development license agrrements - potential milestone payments | 1,907 | 2,072 | |
Joint ventures [Member] | |||
Disclosure of finance lease and operating lease by lessee [Line Items] | |||
Operating leases | 127 | ||
Irrevocable purchase commitments given | € 1,207 | ||
Suppliers [Member] | |||
Disclosure of finance lease and operating lease by lessee [Line Items] | |||
Irrevocable purchase commitments given | 4,192 | ||
Irrevocable purchase commitments received | € (229) |
Off-balance Sheet Commitment200
Off-balance Sheet Commitments - Additional Information (Detail) € in Millions, $ in Millions | Feb. 27, 2017USD ($) | Dec. 31, 2017EUR (€) | Dec. 31, 2017USD ($) | Dec. 31, 2016EUR (€) | Dec. 31, 2015EUR (€) | Jul. 20, 2017EUR (€) | Nov. 05, 2015EUR (€) | Feb. 28, 2014 |
Disclosure of collaboration agreements [line Items] | ||||||||
Operating leases | € 1,452 | € 1,507 | € 1,567 | |||||
Lease and sublease payments recognised as expense | 291 | 309 | 340 | |||||
Commitments related to r and d relating to projects in research phase | 7,200 | 6,200 | 4,700 | |||||
Commitments related to r and d payments contingent upon attainment of sales targets | € 10,100 | 8,200 | 8,000 | |||||
Description of agreement | In February 2014, pursuant to the “Pandemic Influenza Preparedness Framework for the sharing of influenza viruses and access to vaccines and other benefits” (still effective as of December 31, 2017), Sanofi Pasteur and the World Health Organization (WHO) signed a bilateral “Standard Material Transfer Agreement” (SMTA 2). This agreement stipulates that Sanofi Pasteur will, during declared pandemic periods, (i) donate 7.5% of its real-time production of pandemic vaccines against any strain with potential to cause a pandemic, and (ii) reserve a further 7.5% of such production on affordable terms. The agreement cancels and replaces all preceding commitments to donate pandemic vaccines to the WHO. | In February 2014, pursuant to the “Pandemic Influenza Preparedness Framework for the sharing of influenza viruses and access to vaccines and other benefits” (still effective as of December 31, 2017), Sanofi Pasteur and the World Health Organization (WHO) signed a bilateral “Standard Material Transfer Agreement” (SMTA 2). This agreement stipulates that Sanofi Pasteur will, during declared pandemic periods, (i) donate 7.5% of its real-time production of pandemic vaccines against any strain with potential to cause a pandemic, and (ii) reserve a further 7.5% of such production on affordable terms. The agreement cancels and replaces all preceding commitments to donate pandemic vaccines to the WHO. | ||||||
Percentage of pandemic vaccines agreed to transfer | 7.50% | |||||||
Percentage of pandemic vaccines agreed to reserve | 7.50% | |||||||
Total credit facilities | € 8,010 | € 8,000 | € 8,000 | |||||
Joint ventures [Member] | ||||||||
Disclosure of collaboration agreements [line Items] | ||||||||
Operating leases | € 127 | |||||||
Lonza [Member] | Joint ventures [Member] | ||||||||
Disclosure of collaboration agreements [line Items] | ||||||||
Amounts payable partners in collaboration agreements | $ | $ 0.8 | |||||||
Initial investment in joint venture | $ | $ 0.3 | |||||||
Percentage shared by partners in construction of facility financing | 50.00% | |||||||
Share of operating expenses and cost of producion to joint partner payable period | 15 years | |||||||
Ablynx [Member] | Top of range [Member] | ||||||||
Disclosure of collaboration agreements [line Items] | ||||||||
Amounts payable partners in collaboration agreements | € 2,400 | |||||||
Hanmi Pharmaceutical Co Limited [Member] | ||||||||
Disclosure of collaboration agreements [line Items] | ||||||||
Description of plan amendments | Hanmi Pharmaceutical Co., Ltd. (2016): amendment to the license agreement originally signed on November 5, 2015. Under the terms of the amendment, Sanofi returned to Hanmi the rights for a weekly-administered insulin, and Hanmi re-assumed at its own expense responsibility for developing the weekly-administered efpeglenatide/insulin combination for a specified period of time, with other contractual terms relating to the combination remaining unchanged. The financial terms of the efpeglenatide collaboration as regards development and registration milestone payments, Hanmi’s entitlement to royalties and Hanmi’s contribution to the development costs of efpeglenatide were also amended. In return, Hanmi committed to pay €196 million to Sanofi, of which €98 million was paid in 2017. | Hanmi Pharmaceutical Co., Ltd. (2016): amendment to the license agreement originally signed on November 5, 2015. Under the terms of the amendment, Sanofi returned to Hanmi the rights for a weekly-administered insulin, and Hanmi re-assumed at its own expense responsibility for developing the weekly-administered efpeglenatide/insulin combination for a specified period of time, with other contractual terms relating to the combination remaining unchanged. The financial terms of the efpeglenatide collaboration as regards development and registration milestone payments, Hanmi’s entitlement to royalties and Hanmi’s contribution to the development costs of efpeglenatide were also amended. In return, Hanmi committed to pay €196 million to Sanofi, of which €98 million was paid in 2017. | ||||||
Amounts received from partners in collaboration agreements | € 98 | |||||||
Amounts receivable from partners in collaboration agreements | € 196 | |||||||
Dice Molecules [Member] | ||||||||
Disclosure of collaboration agreements [line Items] | ||||||||
Description of collaboration agreement | DiCE Molecules (2016) five-year global collaboration to discover potential new therapeutics for up to 12 targets that encompass all disease areas of strategic interest to Sanofi. | DiCE Molecules (2016) five-year global collaboration to discover potential new therapeutics for up to 12 targets that encompass all disease areas of strategic interest to Sanofi. | ||||||
Collaboration period | 5 years | |||||||
Principia Biopharma, Inc [member] | ||||||||
Disclosure of collaboration agreements [line Items] | ||||||||
Upfront payments | $ | $ 40 | |||||||
Principia Biopharma, Inc [member] | Top of range [Member] | ||||||||
Disclosure of collaboration agreements [line Items] | ||||||||
Future milestone payments | $ | $ 765 |
Off-balance Sheet Commitment201
Off-balance Sheet Commitments - Summary of Undrawn Credit Facilities (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure Of Line of Credit Facility [Line Items] | |||
General-purpose credit facilities | € 8,010 | € 8,000 | € 8,000 |
Less than 1 year [Member] | |||
Disclosure Of Line of Credit Facility [Line Items] | |||
General-purpose credit facilities | 7 | ||
1 to 3 years [Member] | |||
Disclosure Of Line of Credit Facility [Line Items] | |||
General-purpose credit facilities | € 8,003 |
Off-balance Sheet Commitment202
Off-balance Sheet Commitments - Summary of Amount of Guarantees Given and Received (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Guarantees given [Member] | |||
Disclosure of Guarantees [Line Items] | |||
Estimated financial effect of contingent liabilities | € 2,986 | € 3,946 | € 3,972 |
Guarantees provided to banks in connection with credit facilities [Member] | |||
Disclosure of Guarantees [Line Items] | |||
Estimated financial effect of contingent liabilities | 1,318 | 2,189 | 2,260 |
Other guarantees given [Member] | |||
Disclosure of Guarantees [Line Items] | |||
Estimated financial effect of contingent liabilities | 1,668 | 1,757 | 1,712 |
Guarantees received [Member] | |||
Disclosure of Guarantees [Line Items] | |||
Estimated financial effect of contingent liabilities | € (181) | € (211) | € (187) |
Legal and Arbitral Proceedings
Legal and Arbitral Proceedings - Additional Information (Detail) € in Millions, $ in Millions, $ in Millions, $ in Millions | 12 Months Ended | |||||||
Dec. 31, 2017USD ($)ClaimClaims | Dec. 31, 2017CAD ($)ClaimClaims | Dec. 31, 2017EUR (€) | Dec. 31, 2017USD ($) | Dec. 31, 2017AUD ($) | Nov. 30, 2017EUR (€) | Dec. 31, 2016EUR (€) | Dec. 31, 2015EUR (€) | |
Disclosure of Legal and Arbitral Proceedings [Line Items] | ||||||||
Provisions for product liability risks, litigation and other | € 1,164 | € 968 | € 908 | |||||
Environment risks and remediation | € 686 | € 732 | € 708 | |||||
Number of dismissed appeals filed by plaintiffs | 2 | 2 | ||||||
Number of appeals decisions | 2 | 2 | ||||||
Germany [Member] | ||||||||
Disclosure of Legal and Arbitral Proceedings [Line Items] | ||||||||
Costs related to specific waste deposit site, percentage | 75.00% | 75.00% | ||||||
Plavix product litigation in the US [Member] | Action for which we are defendant [Member] | ||||||||
Disclosure of Legal and Arbitral Proceedings [Line Items] | ||||||||
Number of civil individual actions | 759 | 759 | 759 | |||||
Number of plaintiffs | 1,395 | 1,395 | 1,395 | |||||
Number of ingesting plaintiffs | 1,134 | 1,134 | 1,134 | |||||
Taxotere product litigation in the US [Member] | Action for which we are defendant [Member] | ||||||||
Disclosure of Legal and Arbitral Proceedings [Line Items] | ||||||||
Number of civil individual actions | 7,123 | 7,123 | 7,123 | |||||
Number of plaintiffs | 8,208 | 8,208 | 8,208 | |||||
Number of ingesting plaintiffs | 7,580 | 7,580 | 7,580 | |||||
Number of loss consortium plaintiffs | 629 | 629 | ||||||
Depakine product litigation in france as of January 2017 [Member] | Action for which we are defendant [Member] | ||||||||
Disclosure of Legal and Arbitral Proceedings [Line Items] | ||||||||
Number of civil individual actions | 56 | 56 | 56 | |||||
Number of plaintiffs | 90 | 90 | 90 | |||||
Number of class action filed against a French affiliate | Claim | 1 | 1 | ||||||
Number of claims on which the class action is based | Claims | 14 | 14 | ||||||
Depakine product litigation in france as of January 2017 [Member] | Action for which we are defendant [Member] | Plaintiff [Member] | ||||||||
Disclosure of Legal and Arbitral Proceedings [Line Items] | ||||||||
Litigation amount payable | € 2 | |||||||
Depakine product litigation in france as of January 2017 [Member] | Action for which we are defendant [Member] | Caisse Primaire D Assurance Maladie [Member] | ||||||||
Disclosure of Legal and Arbitral Proceedings [Line Items] | ||||||||
Litigation amount payable | € 1 | |||||||
Ramipril Canada Patent Litigation [Member] | Action for which we are defendant [Member] | ||||||||
Disclosure of Legal and Arbitral Proceedings [Line Items] | ||||||||
Losses on litigation settlements | $ | $ 221 | |||||||
Plavix Litigation (Commonwealth) in Australia [Member] | Action for which we are defendant [Member] | ||||||||
Disclosure of Legal and Arbitral Proceedings [Line Items] | ||||||||
Security bond posted increased from | € 26 | $ 40 | ||||||
Security bond posted increased to | 133 | 204 | ||||||
Apotex sought damages range from | 13 | 20 | ||||||
Apotex sought damages range to | 154 | 236 | ||||||
Payment of damages sought by Australian Department of Health related to the Apotex preliminary injunction, up to | € 293 | $ 449 | ||||||
Aventis Behring Retained Liabilities [Member] | ||||||||
Disclosure of Legal and Arbitral Proceedings [Line Items] | ||||||||
Threshold amount relating to losses triggering indemnification | $ | $ 10 | |||||||
Indemnification aggregate cap | $ | 300 | |||||||
Indemnification aggregate cap related to product liability claims | $ | $ 500 | |||||||
Indemnification related to environmental indemnifiable losses limited to | 90.00% | 90.00% | 90.00% | |||||
Aventis Crop Science Retained Liabilities [Member] | ||||||||
Disclosure of Legal and Arbitral Proceedings [Line Items] | ||||||||
Global indemnification cap and indemnification cap related to environmental liabilities | € 836 | |||||||
Indemnification cap related to product liability cases | 418 | |||||||
Agregate particpation percentage of legacy companies in ACS | 76.00% | 76.00% | ||||||
Indemnification amount for damages sought by Bayer in the LLRICE601 and LLRICE604 arbitration | 787.5 | |||||||
Amount of incurred losses alleged by Bayer in the LLRICE litigation | $ | $ 1,200 | |||||||
Aventis Animal Nutrition retained liabilities [Member] | ||||||||
Disclosure of Legal and Arbitral Proceedings [Line Items] | ||||||||
Global indemnification cap | € 223 | |||||||
Rhodia Shareholder Litigation [Member] | Action for which we are defendant [Member] | ||||||||
Disclosure of Legal and Arbitral Proceedings [Line Items] | ||||||||
Number of claims before a commercial court | 2 | 2 | 2 | |||||
Amount of damages sought by plaintiffs to be awarded to Rhodia | € 925 | |||||||
Amount of damages for alleged individual losses sought by plaintiff 1 | 4.3 | |||||||
Amount of damages for alleged individual losses sought by plaintiff 2 | 125.4 | |||||||
Clariant Retained Liabilities - Specially Chemicals Business [member] | Germany [Member] | ||||||||
Disclosure of Legal and Arbitral Proceedings [Line Items] | ||||||||
Threshold amount, relating to environmental costs attributable to four defined waste deposit sites in Germany, triggering indemnification to Clariant | 20.5 | |||||||
Infraserv Hoechst Retained Liabilities [Member] | ||||||||
Disclosure of Legal and Arbitral Proceedings [Line Items] | ||||||||
Fund reserves transferred to Infraserv Hoechst | 57 | |||||||
Agreed reimbursement to Infraserv Hoechst of current and future environmental expenses up to | € 143 | |||||||
Sanofi Pasteur Hepatitis B Vaccine Product Litigation Since 1996 [Member] | Action for which we are defendant [Member] | ||||||||
Disclosure of Legal and Arbitral Proceedings [Line Items] | ||||||||
Number of civil individual actions | 180 | 180 | 180 | |||||
Praluent (alirocumab)-related amgen patent litigation in the U.S.[Member] | Action for which we are defendant [Member] | ||||||||
Disclosure of Legal and Arbitral Proceedings [Line Items] | ||||||||
Number of patent actions initially filed | 4 | 4 | 4 | |||||
Number of patent actions after consolidation | 1 | 1 | 1 | |||||
Number of patents allegedly infringed | 7 | 7 | 7 | |||||
Number of patents found infringed | 2 | 2 | 2 | |||||
Praluent (Alirocumab) Related Amgen Patent Litigation in Europe [Member] | Action for which we are defendant [Member] | ||||||||
Disclosure of Legal and Arbitral Proceedings [Line Items] | ||||||||
Number of patent actions initially filed | 3 | 3 | 3 | |||||
Praluent (alirocumab)-related EPO patent oppositions [Member] | Action for which we are defendant [Member] | ||||||||
Disclosure of Legal and Arbitral Proceedings [Line Items] | ||||||||
Number of opposition actions | 5 | 5 | 5 | |||||
Celanese A G retained liabilities [member] | ||||||||
Disclosure of Legal and Arbitral Proceedings [Line Items] | ||||||||
Environmental damages amount up to which CCC is liable to indemnification | € 250 | |||||||
Environmental damages amount up to which Hoechst is liable to indemnification and from which liabilities are shared between Hoechst and CCC | € 750 |
Provisions for Discounts, Re204
Provisions for Discounts, Rebates and Sales Returns - Summary of Movement in Provisions for Discounts, Rebates and Sales Returns (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of other provisions [Line Items] | |||
Provisions for discounts, rebates and sales returns, Beginning balance | € 5,113 | € 4,623 | € 3,247 |
Provision related to current period sales | 17,690 | 17,196 | 17,526 |
Net change in provision related to prior period sales | (46) | (17) | (65) |
Payments made | (17,474) | (16,832) | (16,176) |
Currency translation differences | (537) | 143 | 252 |
Reclassification of the Animal Health business | (161) | ||
Provisions for discounts, rebates and sales returns, Ending balance | 4,746 | 5,113 | 4,623 |
Government and State Programs [Member] | |||
Disclosure of other provisions [Line Items] | |||
Provisions for discounts, rebates and sales returns, Beginning balance | 2,398 | 2,173 | 1,439 |
Provision related to current period sales | 5,131 | 5,240 | 4,912 |
Net change in provision related to prior period sales | (46) | (6) | (35) |
Payments made | (5,129) | (5,078) | (4,295) |
Currency translation differences | (268) | 69 | 152 |
Provisions for discounts, rebates and sales returns, Ending balance | 2,086 | 2,398 | 2,173 |
Government and GPO Programs [Member] | |||
Disclosure of other provisions [Line Items] | |||
Provisions for discounts, rebates and sales returns, Beginning balance | 771 | 672 | 312 |
Provision related to current period sales | 2,027 | 1,869 | 1,954 |
Net change in provision related to prior period sales | (11) | ||
Payments made | (2,031) | (1,796) | (1,636) |
Currency translation differences | (93) | 26 | 42 |
Provisions for discounts, rebates and sales returns, Ending balance | 663 | 771 | 672 |
Chargeback Incentives [Member] | |||
Disclosure of other provisions [Line Items] | |||
Provisions for discounts, rebates and sales returns, Beginning balance | 280 | 349 | 221 |
Provision related to current period sales | 4,069 | 4,132 | 4,131 |
Net change in provision related to prior period sales | (8) | (8) | (20) |
Payments made | (3,925) | (4,204) | (4,001) |
Currency translation differences | (39) | 11 | 18 |
Provisions for discounts, rebates and sales returns, Ending balance | 377 | 280 | 349 |
Rebates and Discounts [Member] | |||
Disclosure of other provisions [Line Items] | |||
Provisions for discounts, rebates and sales returns, Beginning balance | 1,111 | 944 | 876 |
Provision related to current period sales | 5,897 | 5,394 | 5,913 |
Net change in provision related to prior period sales | 30 | (20) | (45) |
Payments made | (5,897) | (5,230) | (5,672) |
Currency translation differences | (74) | 23 | 11 |
Reclassification of the Animal Health business | (139) | ||
Provisions for discounts, rebates and sales returns, Ending balance | 1,067 | 1,111 | 944 |
Sales Returns [Member] | |||
Disclosure of other provisions [Line Items] | |||
Provisions for discounts, rebates and sales returns, Beginning balance | 550 | 480 | 393 |
Provision related to current period sales | 537 | 547 | 585 |
Net change in provision related to prior period sales | (11) | 18 | 35 |
Payments made | (466) | (509) | (541) |
Currency translation differences | (63) | 14 | 29 |
Reclassification of the Animal Health business | (21) | ||
Provisions for discounts, rebates and sales returns, Ending balance | 547 | 550 | 480 |
Other Deductions [Member] | |||
Disclosure of other provisions [Line Items] | |||
Provisions for discounts, rebates and sales returns, Beginning balance | 3 | 5 | 6 |
Provision related to current period sales | 29 | 14 | 31 |
Net change in provision related to prior period sales | (1) | ||
Payments made | (26) | (15) | (31) |
Reclassification of the Animal Health business | (1) | ||
Provisions for discounts, rebates and sales returns, Ending balance | € 6 | € 3 | € 5 |
Provisions for Discounts, Re205
Provisions for Discounts, Rebates and Sales Returns - Summary of Movement in Provisions for Discounts, Rebates and Sales Returns (Parenthetical) (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Disclosure of other provisions [Line Items] | ||||
Provisions for discounts, rebates and sales returns | € 4,746 | € 5,113 | € 4,623 | € 3,247 |
United States [Member] | ||||
Disclosure of other provisions [Line Items] | ||||
Provisions for discounts, rebates and sales returns | € 3,487 | € 3,818 | € 3,584 |
Personnel Costs - Summary of Pe
Personnel Costs - Summary of Personal Costs (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of amounts incurred by entity for provision of key management personnel services provided by separate management entities [Abstract] | |||
Salaries | € 6,592 | € 6,424 | € 6,473 |
Social security charges (including defined-contribution pension plans) | 1,977 | 1,948 | 1,951 |
Stock options and other share-based payment expense | 258 | 250 | 206 |
Defined-benefit pension plans | 275 | 273 | 280 |
Other employee benefits | 219 | 224 | 224 |
Total | € 9,321 | € 9,119 | € 9,134 |
Personnel Costs - Summary of207
Personnel Costs - Summary of Personal Costs (Parenthetical) (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of amounts incurred by entity for provision of key management personnel services provided by separate management entities [Line Items] | |||
Employee benefits expense | € 9,321 | € 9,119 | € 9,134 |
Animal Health Business [Member] | |||
Disclosure of amounts incurred by entity for provision of key management personnel services provided by separate management entities [Line Items] | |||
Employee benefits expense | € 0 | € 600 | € 600 |
Personnel Costs - Additional In
Personnel Costs - Additional Information (Detail) - Employees | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of amounts incurred by entity for provision of key management personnel services provided by separate management entities [Abstract] | |||
Number of employees | 106,566 | 106,859 | 109,089 |
Personnel Costs - Summary of Em
Personnel Costs - Summary of Employee Numbers by Function (Detail) | Dec. 31, 2017Employees | Dec. 31, 2016Employees | Dec. 31, 2015Employees |
Disclosure of amounts incurred by entity for provision of key management personnel services provided by separate management entities [Abstract] | |||
Number of employees, production | 40,417 | 41,867 | 42,754 |
Number of employees, research and development | 14,764 | 15,148 | 15,384 |
Number of employees, sales force | 30,284 | 30,815 | 32,771 |
Number of employees, marketing and support functions | 21,101 | 19,029 | 18,180 |
Number of employees, total | 106,566 | 106,859 | 109,089 |
Personnel Costs - Summary of210
Personnel Costs - Summary of Employee Numbers by Function (Parenthetical) (Detail) | Dec. 31, 2017Employees | Dec. 31, 2016Employees | Dec. 31, 2015Employees |
Disclosure of amounts incurred by entity for provision of key management personnel services provided by separate management entities [Line Items] | |||
Number of employees | 106,566 | 106,859 | 109,089 |
Animal Health Business [Member] | |||
Disclosure of amounts incurred by entity for provision of key management personnel services provided by separate management entities [Line Items] | |||
Number of employees | 4 | 6,957 | 6,542 |
Other Operating Income - Additi
Other Operating Income - Additional Information (Detail) - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Disclosure Of Other Operating Income [Line Items] | |||||
Other operating income | [1] | € 237 | € 355 | € 254 | [2] |
Net operating foreign exchange losses | 80 | 146 | 98 | ||
Gains on disposals of operating non-current assets | 90 | 40 | 146 | ||
Gains on litigation settlements | 192 | ||||
Regeneron [Member] | |||||
Disclosure Of Other Operating Income [Line Items] | |||||
Alliance agreements | (12) | 141 | |||
Alliance agreements, profits from commercialization of antibodies | 385 | 419 | |||
Alliance agreements, related commercialization expenses | 397 | 278 | |||
Pharmaceuticals [Member] | |||||
Disclosure Of Other Operating Income [Line Items] | |||||
Alliance agreements | € 7 | € 191 | € 59 | ||
[1] | The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36. | ||||
[2] | Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.). |
Other Operating Expenses - Addi
Other Operating Expenses - Additional Information (Detail) - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Disclosure of Other Operating Income Expenses [Line Items] | |||||
Other operating expense | [1] | € 233 | € 482 | € 462 | [2] |
Impairment loss recognised in profit or loss, property, plant and equipment | 254 | 159 | 132 | ||
Other operating expense, foreign exchange loss on Venezuelan Subsidiaries | 102 | ||||
Other operating expense, share of profits due to alliance partners | 36 | € 96 | € 52 | ||
Dengue vaccine project [Member] | |||||
Disclosure of Other Operating Income Expenses [Line Items] | |||||
Impairment loss recognised in profit or loss, property, plant and equipment | € 87 | ||||
[1] | The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36. | ||||
[2] | Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.). |
Restructuring Costs and Simi213
Restructuring Costs and Similar Items - Additional Information (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of restructuring costs and similar items [abstract] | |||
Expense of restructuring activities | € 731 | € 879 | € 795 |
Sanofi transformation programs | € 110 | € 45 | € 0 |
Restructuring Costs and Simi214
Restructuring Costs and Similar Items - Summary of Restructuring Costs and Similar Items (Detail) - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Disclosure of restructuring costs and similar items [abstract] | |||||
Employee-related expenses | € 336 | € 650 | € 307 | ||
Expenses related to property, plant and equipment and to inventories | 221 | 139 | 132 | ||
Compensation for early termination of contracts (other than contracts of employment) | 61 | 31 | 7 | ||
Decontamination costs | (4) | 3 | 1 | ||
Other restructuring costs | 117 | 56 | 348 | ||
Total | [1] | € 731 | € 879 | € 795 | [2] |
[1] | The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36. | ||||
[2] | Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.). |
Other Gains And Losses, and 215
Other Gains And Losses, and Litigation - Additional Information (Detail) - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | [1] | Dec. 31, 2015 | ||
Gains (losses) on litigation settlements [Abstract] | |||||
Other gains and (losses) and litigation | € (215) | [1] | € 211 | € 0 | |
Provisions for vendor's liability guarantees | € 31 | ||||
[1] | The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36. |
Financial Income and Expenses -
Financial Income and Expenses - Summary of Analysis of Financial Income and Expenses (Detail) - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Disclosure Of Detailed Information About Finance Income Expense [abstract] | |||||
Cost of debt | € (277) | € (274) | € (331) | ||
Interest income | 56 | 56 | 57 | ||
Cost of debt, net of cash and cash equivalents | (221) | (218) | (274) | ||
Non-operating foreign exchange gains/(losses) | (21) | (21) | |||
Unwinding of discounting of provisions | (33) | (33) | (44) | ||
Net interest cost related to employee benefits | (92) | (114) | (114) | ||
Gains/(losses) on disposals of financial assets | 96 | 36 | 46 | ||
Impairment losses on financial assets, net of reversals | (7) | (487) | (50) | ||
Other | 5 | (19) | 55 | ||
Net financial income/(expenses) | (273) | (856) | (381) | ||
Comprising: financial expenses | [1] | (420) | (924) | (559) | [2] |
Comprising: financial income | [1] | € 147 | € 68 | € 178 | [2] |
[1] | The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36. | ||||
[2] | Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.). |
Financial Income and Expense217
Financial Income and Expenses - Summary of Analysis of Financial Income and Expenses (Parenthetical) (Detail) - EUR (€) € in Millions | Oct. 06, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure Of Detailed Information About Finance Income Expense [abstract] | ||||
Gain on interest rate derivatives used to edge debt | € 69 | € 86 | € 85 | |
Decrease in share price, percentage | 48.00% | |||
Impairment loss on financial assets Alnylam | € 457 |
Income Tax Expense - Summary of
Income Tax Expense - Summary of Allocation of Income Tax Expense Between Current and Deferred Taxes (Detail) - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Disclosure Of Income Tax Expense and Deferred Taxes [Abstract] | |||||
Current taxes | € (2,631) | € (1,869) | € (1,978) | ||
Deferred taxes | 909 | 543 | 1,269 | ||
Total | [1] | (1,722) | (1,326) | (709) | [2] |
Income before tax and associates and joint ventures | [1] | € 5,530 | € 5,678 | € 5,243 | [2] |
[1] | The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36. | ||||
[2] | Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.). |
Income Tax Expense - Summary219
Income Tax Expense - Summary of Difference Between Effective Tax Rate and Standard Corporate Income Tax Rate (Detail) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of Difference of Effective Tax Rate and Standard Corporate Income Tax Rate [Abstract] | |||
Standard tax rate applicable in France | 34.40% | 34.40% | 34.40% |
Difference between the standard French tax rate and the rates applicable to the Sanofi group | (19.20%) | (10.10%) | (17.70%) |
Tax rate differential on intragroup margin in inventory | 0.00% | (0.60%) | 1.70% |
Tax effects of the share of profits reverting to BMS | (0.50%) | (0.50%) | (0.60%) |
Contribution on distributed income (3%) | (8.20%) | 2.00% | 2.10% |
CVAE tax in France | 1.30% | 1.10% | 1.30% |
Revisions to tax exposures and settlements of tax disputes | 2.20% | (4.80%) | 0.30% |
Fair value remeasurement of contingent consideration liabilities | 1.10% | 0.40% | (1.10%) |
Impact of US tax reform | 21.60% | ||
Other items | (1.60%) | 1.50% | (6.90%) |
Effective tax rate | 31.10% | 23.40% | 13.50% |
Income Tax Expense - Summary220
Income Tax Expense - Summary of Difference Between Effective Tax Rate and Standard Corporate Income Tax Rate (Parenthetical) (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
France [Member] | |||
Disclosure of Difference of Effective Tax Rate and Standard Corporate Income Tax Rate [Line items] | |||
Percentage of distributed income | 3.00% | 3.00% | 3.00% |
Other items change in the taxation of dividends in France | € 161 | ||
United States [Member] | |||
Disclosure of Difference of Effective Tax Rate and Standard Corporate Income Tax Rate [Line items] | |||
Tax reform | € 1,193 | ||
Tax reform estimated cost of remitting profits back payable period | 8 years | ||
Tax reform estimated cost of remitting profits back payable | € 1,084 | ||
Tax reform future expense | € 109 |
Share of Profit_Loss of Investm
Share of Profit/Loss of Investments Accounted for Using the Equity Method - Additional Information (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Regeneron [Member] | |||
Disclosure of share of profit loss of associates and joint ventures [line items] | |||
Share of profit (loss) of associates and joint ventures accounted for using equity method | € 101 | € 126 | € (54) |
BMS [Member] | |||
Disclosure of share of profit loss of associates and joint ventures [line items] | |||
Share of profit (loss) of associates and joint ventures accounted for using equity method | 20 | 25 | 57 |
Tax effect | € (7) | € (9) | € (21) |
Net Income Attributable to N222
Net Income Attributable to Non-controlling Interests - Additional Information (Detail) - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Disclosure of noncontrolling interests [Line Items] | |||||
Profit (loss), attributable to non-controlling interests | [1] | € 121 | € 91 | € 101 | [2] |
BMS [Member] | |||||
Disclosure of noncontrolling interests [Line Items] | |||||
Profit (loss), attributable to non-controlling interests | 84 | 86 | 94 | ||
Other investments [Member] | |||||
Disclosure of noncontrolling interests [Line Items] | |||||
Profit (loss), attributable to non-controlling interests | € 37 | € 5 | € 7 | ||
[1] | The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36. | ||||
[2] | Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.). |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) € in Millions | 12 Months Ended | ||
Dec. 31, 2017EUR (€)Executives | Dec. 31, 2016EUR (€)ExecutivesDirector | Dec. 31, 2015EUR (€)ExecutivesDirector | |
Disclosure of transactions between related parties [Abstract] | |||
Average number of members of executive committee | Executives | 13 | 13 | 11 |
Number of directors holding office | Director | 1 | 2 | |
Aggregate pension obligation in favor of certain corporate officers and of members of the executive committee | € 68 | € 72 | € 128 |
Key management personnel compensation, termination benefits and lump sum retirement benefits | € 9 | € 8 | € 6 |
Related Party Transactions - Sc
Related Party Transactions - Schedule of Compensation Paid to Key Management Personnel (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of compensation paid to key management personnel [abstract] | |||
Short-term benefits | € 31 | € 32 | € 32 |
Post-employment benefits | 8 | 9 | 20 |
Share-based payment | 15 | 22 | 14 |
Total recognized in profit or loss | € 54 | € 63 | € 66 |
Disclosures About Major Custome
Disclosures About Major Customers and Credit Risk - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Customer one [Member] | |||
Disclosure of Information About Major Customers and Credit Risk [Line Items] | |||
Percentage of entity's revenue | 9.00% | 12.00% | 10.00% |
Customer two [Member] | |||
Disclosure of Information About Major Customers and Credit Risk [Line Items] | |||
Percentage of entity's revenue | 5.00% | 7.00% | 6.00% |
Customer three [Member] | |||
Disclosure of Information About Major Customers and Credit Risk [Line Items] | |||
Percentage of entity's revenue | 4.00% | 6.00% | 5.00% |
Segment Information - Schedule
Segment Information - Schedule of Segment Results (Detail) - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Disclosure of operating segments [Line Items] | |||||
Net sales | [1] | € 35,055 | € 33,821 | € 34,060 | [2] |
Other revenues | [1] | 1,149 | 887 | 801 | [2] |
Cost of sales | [1] | (11,611) | (10,702) | (10,919) | [2] |
Research and development expenses | [1] | (5,472) | (5,172) | (5,082) | [2] |
Selling and general expenses | [1] | (10,058) | (9,486) | (9,382) | [2] |
Net income attributable to non-controlling interests | [1] | (121) | (91) | (101) | [2] |
Consumer healthcare segment [member] | |||||
Disclosure of operating segments [Line Items] | |||||
Net sales | 3,330 | 3,492 | |||
New segment reporting model [member] | Pharmaceuticals [Member] | |||||
Disclosure of operating segments [Line Items] | |||||
Net sales | 25,122 | ||||
Other revenues | 287 | ||||
Cost of sales | (6,728) | ||||
Research and development expenses | (4,056) | ||||
Selling and general expenses | (5,750) | ||||
Other operating income and expenses | 34 | ||||
Share of profit/(loss) from investments accounted for using the equity method | 233 | ||||
Net income attributable to non-controlling interests | (117) | ||||
Business operating income | 9,025 | ||||
New segment reporting model [member] | Consumer healthcare segment [member] | |||||
Disclosure of operating segments [Line Items] | |||||
Net sales | 4,832 | ||||
Cost of sales | (1,648) | ||||
Research and development expenses | (123) | ||||
Selling and general expenses | (1,605) | ||||
Other operating income and expenses | 94 | ||||
Share of profit/(loss) from investments accounted for using the equity method | 1 | ||||
Net income attributable to non-controlling interests | (8) | ||||
Business operating income | 1,543 | ||||
New segment reporting model [member] | Vaccines [Member] | |||||
Disclosure of operating segments [Line Items] | |||||
Net sales | 5,101 | ||||
Other revenues | 862 | ||||
Cost of sales | (2,798) | ||||
Research and development expenses | (557) | ||||
Selling and general expenses | (698) | ||||
Other operating income and expenses | (107) | ||||
Share of profit/(loss) from investments accounted for using the equity method | 1 | ||||
Business operating income | 1,804 | ||||
New segment reporting model [member] | Other Segment [Member] | |||||
Disclosure of operating segments [Line Items] | |||||
Cost of sales | (271) | ||||
Research and development expenses | (736) | ||||
Selling and general expenses | (2,005) | ||||
Other operating income and expenses | (17) | ||||
Business operating income | (3,029) | ||||
New segment reporting model [member] | Reportable Segments [Member] | |||||
Disclosure of operating segments [Line Items] | |||||
Net sales | 35,055 | ||||
Other revenues | 1,149 | ||||
Cost of sales | (11,445) | ||||
Research and development expenses | (5,472) | ||||
Selling and general expenses | (10,058) | ||||
Other operating income and expenses | 4 | ||||
Share of profit/(loss) from investments accounted for using the equity method | 235 | ||||
Net income attributable to non-controlling interests | (125) | ||||
Business operating income | 9,343 | ||||
Previous segment reporting model [member] | Pharmaceuticals [Member] | |||||
Disclosure of operating segments [Line Items] | |||||
Net sales | 29,954 | 29,244 | 29,799 | ||
Other revenues | 287 | 274 | 288 | ||
Cost of sales | (8,628) | (8,349) | (8,788) | ||
Research and development expenses | (4,835) | (4,618) | (4,530) | ||
Selling and general expenses | (9,176) | (8,743) | (8,656) | ||
Other operating income and expenses | 180 | (1) | (121) | ||
Share of profit/(loss) from investments accounted for using the equity method | 234 | 129 | 146 | ||
Net income attributable to non-controlling interests | (125) | (112) | (125) | ||
Business operating income | 7,891 | 7,824 | 8,013 | ||
Previous segment reporting model [member] | Vaccines [Member] | |||||
Disclosure of operating segments [Line Items] | |||||
Net sales | 5,101 | 4,577 | 4,261 | ||
Other revenues | 862 | 613 | 513 | ||
Cost of sales | (2,817) | (2,353) | (2,131) | ||
Research and development expenses | (637) | (554) | (552) | ||
Selling and general expenses | (881) | (743) | (726) | ||
Other operating income and expenses | (108) | (14) | 27 | ||
Share of profit/(loss) from investments accounted for using the equity method | 1 | 48 | 23 | ||
Net income attributable to non-controlling interests | (1) | (1) | |||
Business operating income | 1,521 | 1,573 | 1,414 | ||
Previous segment reporting model [member] | Other Segment [Member] | |||||
Disclosure of operating segments [Line Items] | |||||
Selling and general expenses | (1) | ||||
Other operating income and expenses | (68) | (112) | (114) | ||
Business operating income | (69) | (112) | (114) | ||
Previous segment reporting model [member] | Reportable Segments [Member] | |||||
Disclosure of operating segments [Line Items] | |||||
Net sales | 35,055 | 33,821 | 34,060 | ||
Other revenues | 1,149 | 887 | 801 | ||
Cost of sales | (11,445) | (10,702) | (10,919) | ||
Research and development expenses | (5,472) | (5,172) | (5,082) | ||
Selling and general expenses | (10,058) | (9,486) | (9,382) | ||
Other operating income and expenses | 4 | (127) | (208) | ||
Share of profit/(loss) from investments accounted for using the equity method | 235 | 177 | 169 | ||
Net income attributable to non-controlling interests | (125) | (113) | (126) | ||
Business operating income | € 9,343 | € 9,285 | € 9,313 | ||
[1] | The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36. | ||||
[2] | Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.). |
Segment Information - Schedu227
Segment Information - Schedule of Segment Results (Parenthetical) (Detail) - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Disclosure of operating segments [Line Items] | |||||
Net sales | [1] | € 35,055 | € 33,821 | € 34,060 | [2] |
Consumer healthcare segment [member] | |||||
Disclosure of operating segments [Line Items] | |||||
Net sales | € 3,330 | € 3,492 | |||
[1] | The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36. | ||||
[2] | Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.). |
Segment Information - Schedu228
Segment Information - Schedule of Reconciliation Between Business Operating Income for the Segments and Income Before Tax and Investments Accounted for Using the Equity Method (Detail) - EUR (€) € in Millions | 12 Months Ended | ||||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||||
Disclosure of operating segments [Line Items] | |||||||
Net income attributable to non-controlling interests | [1] | € 121 | € 91 | € 101 | [2] | ||
Fair value remeasurement of contingent consideration | [1] | (159) | (135) | 53 | [2] | ||
Restructuring costs and similar items | (731) | (879) | (795) | ||||
Other gains and losses, and litigation | (215) | [1] | 211 | [1] | 0 | ||
Operating income | [1] | 5,803 | 6,534 | 5,624 | [2] | ||
Financial expenses | [1] | (420) | (924) | (559) | [2] | ||
Financial income | [1] | 147 | 68 | 178 | [2] | ||
Income before tax and investments accounted for using the equity method | 5,530 | 5,678 | 5,243 | ||||
Operating Segments [Member] | |||||||
Disclosure of operating segments [Line Items] | |||||||
Business operating income | 9,343 | 9,285 | 9,313 | ||||
Material Reconciling Items [Member] | |||||||
Disclosure of operating segments [Line Items] | |||||||
Share of profit/(loss) from investments accounted for using the equity method | (235) | (177) | (169) | ||||
Net income attributable to non-controlling interests | 125 | 113 | 126 | ||||
Amortization and impairment of intangible assets | (2,159) | (1,884) | (2,904) | ||||
Fair value remeasurement of contingent consideration | (159) | (135) | 53 | ||||
Expenses arising from the impact of acquisitions on inventories | (166) | ||||||
Restructuring costs and similar items | (731) | (879) | € (795) | ||||
Other gains and losses, and litigation | € (215) | € 211 | |||||
[1] | The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36. | ||||||
[2] | Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.). |
Segment Information - Schedu229
Segment Information - Schedule of Reconciliation Between Business Operating Income for the Segments and Income Before Tax and Investments Accounted for Using the Equity Method (Parenthetical) (Detail) € in Millions | 12 Months Ended |
Dec. 31, 2016EUR (€) | |
Sanofi Pasteur MSD [Member] | |
Disclosure of operating segments [Line Items] | |
Other costs of Divestment in Associates and Joint Ventures | € 52 |
Alnylam Pharmaceuticals, Inc [Member] | |
Disclosure of operating segments [Line Items] | |
Impairment loss | € 457 |
Segment Information - Schedu230
Segment Information - Schedule of Acquisition of Intangible Assets, Property, Plant and Equipment and Investments Accounted for Using the Equity Method by Segment (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Reportable Segments [Member] | |||
Disclosure of operating segments [Line Items] | |||
Investments accounted for using the equity method | € 2,863 | ||
Acquisitions of property, plant and equipment | 1,388 | ||
Acquisitions of other intangible assets | 568 | ||
New segment reporting model [member] | Pharmaceuticals [Member] | |||
Disclosure of operating segments [Line Items] | |||
Investments accounted for using the equity method | 2,831 | ||
Acquisitions of property, plant and equipment | 1,033 | ||
Acquisitions of other intangible assets | 367 | ||
New segment reporting model [member] | Consumer healthcare segment [member] | |||
Disclosure of operating segments [Line Items] | |||
Investments accounted for using the equity method | 19 | ||
Acquisitions of property, plant and equipment | 9 | ||
Acquisitions of other intangible assets | 9 | ||
Previous segment reporting model [member] | Pharmaceuticals [Member] | |||
Disclosure of operating segments [Line Items] | |||
Investments accounted for using the equity method | 2,850 | € 2,886 | € 2,422 |
Acquisitions of property, plant and equipment | 1,042 | 904 | 945 |
Acquisitions of other intangible assets | 376 | 807 | 1,533 |
Previous segment reporting model [member] | Vaccines [Member] | |||
Disclosure of operating segments [Line Items] | |||
Investments accounted for using the equity method | 13 | 4 | 254 |
Acquisitions of property, plant and equipment | 346 | 315 | 258 |
Acquisitions of other intangible assets | 192 | 57 | 36 |
Previous segment reporting model [member] | Reportable Segments [Member] | |||
Disclosure of operating segments [Line Items] | |||
Investments accounted for using the equity method | 2,863 | 2,890 | 2,676 |
Acquisitions of property, plant and equipment | 1,388 | 1,219 | 1,203 |
Acquisitions of other intangible assets | € 568 | € 864 | € 1,569 |
Segment Information - Summary o
Segment Information - Summary of Geographical Information on Net Sales and Non-Current Assets (Detail) - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Disclosure of geographical areas [Line Items] | |||||
Net sales | [1] | € 35,055 | € 33,821 | € 34,060 | [2] |
Property, plant and equipment | 9,579 | 10,019 | 9,943 | ||
Goodwill | 40,264 | 40,287 | 39,557 | ||
Other intangible assets | 13,080 | 10,879 | 12,026 | ||
Reportable Geographical Zones [Member] | |||||
Disclosure of geographical areas [Line Items] | |||||
Net sales | 35,055 | 33,821 | 34,060 | ||
Property, plant and equipment | 9,579 | 10,019 | 9,943 | ||
Goodwill | 40,264 | 40,287 | 39,557 | ||
Other intangible assets | 13,080 | 10,879 | 12,026 | ||
Europe [Member] | |||||
Disclosure of geographical areas [Line Items] | |||||
Net sales | 9,525 | 8,679 | 9,861 | ||
Property, plant and equipment | 5,969 | 6,068 | 5,956 | ||
Other intangible assets | 6,171 | 3,612 | 3,719 | ||
France [Member] | |||||
Disclosure of geographical areas [Line Items] | |||||
Net sales | 2,330 | 2,206 | 2,248 | ||
Property, plant and equipment | 3,180 | 3,413 | 3,480 | ||
North America [Member] | |||||
Disclosure of geographical areas [Line Items] | |||||
Net sales | 12,460 | 12,963 | 12,369 | ||
Property, plant and equipment | 2,560 | 2,850 | 2,879 | ||
Other intangible assets | 5,210 | 5,430 | 5,980 | ||
United States [Member] | |||||
Disclosure of geographical areas [Line Items] | |||||
Net sales | 11,855 | 12,391 | 11,764 | ||
Property, plant and equipment | 2,142 | 2,447 | 2,498 | ||
Other Countries [Member] | |||||
Disclosure of geographical areas [Line Items] | |||||
Net sales | 13,070 | 12,179 | 11,830 | ||
Property, plant and equipment | 1,050 | 1,101 | 1,108 | ||
Other intangible assets | € 1,699 | € 1,837 | € 2,327 | ||
[1] | The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36. | ||||
[2] | Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.). |
Exchanged_Held-For-Exchange 232
Exchanged/Held-For-Exchange Animal Health Business - Summary of Assets and Liabilities Held for Sale or Exchange (Detail) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Assets | |||||
Property, plant and equipment | € 9,579 | € 10,019 | € 9,943 | ||
Goodwill | 40,264 | 40,287 | 39,557 | ||
Other intangible assets | 13,080 | 10,879 | 12,026 | ||
Investments accounted for using the equity method | 2,863 | 2,890 | 2,676 | ||
Other non-currentassets | 3,364 | 2,820 | 2,725 | ||
Deferred tax assets | 4,290 | 4,669 | 4,714 | ||
Inventories | 6,816 | 6,892 | 6,516 | ||
Accounts receivable | 7,216 | 7,311 | 7,386 | ||
Other current assets | 2,005 | 2,211 | 1,878 | ||
Cash and cash equivalents | [1] | 10,315 | 10,273 | 9,148 | € 7,341 |
Total assets held for sale or exchange | 34 | 6,421 | 5,752 | ||
Liabilities | |||||
Long-term debt | 14,326 | 16,815 | 13,118 | ||
Non-current provisions | 9,154 | 8,834 | 9,169 | € 9,578 | |
Deferred tax liabilities | 1,605 | 2,292 | 2,895 | ||
Short-term debt | 1,275 | 1,764 | 3,436 | ||
Other current liabilities | € 5,087 | 5,815 | 5,131 | ||
Total liabilities related to assets held for sale or exchange | 1,195 | 983 | |||
Animal Health Business [Member] | |||||
Assets | |||||
Property, plant and equipment | 811 | 657 | |||
Goodwill | 1,560 | 1,510 | |||
Other intangible assets | 2,227 | 2,147 | |||
Investments accounted for using the equity method | 12 | 6 | |||
Other non-currentassets | 41 | 46 | |||
Deferred tax assets | 180 | 177 | |||
Inventories | 629 | 526 | |||
Accounts receivable | 471 | 479 | |||
Other current assets | 83 | 55 | |||
Cash and cash equivalents | 362 | 23 | |||
Total assets held for sale or exchange | 6,376 | 5,626 | |||
Liabilities | |||||
Long-term debt | 6 | 4 | |||
Non-current provisions | 134 | 149 | |||
Deferred tax liabilities | 198 | 163 | |||
Short-term debt | 148 | 18 | |||
Accounts payable | 241 | 218 | |||
Other current liabilities | 438 | 431 | |||
Total liabilities related to assets held for sale or exchange | € 1,165 | € 983 | |||
[1] | For 2015 and 2016, cash flows of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations). For 2017, all of the cash flows generated from the exchange of the Animal Health business for the Consumer Healthcare business of Boehringer Ingelheim (BI) are described in note (i) below. |
Exchanged_Held-For-Exchange 233
Exchanged/Held-For-Exchange Animal Health Business - Additional Information (Detail) € in Millions | Dec. 31, 2016EUR (€) |
Animal Health Business [Member] | |
Disclosure of Assets Held for Sale [Line Items] | |
Short-term debt | € 954 |
Exchanged_Held-For-Exchange 234
Exchanged/Held-For-Exchange Animal Health Business - Summary of Main Items Included in Net Income/(Loss) of Held-for-Exchange Animal Health Business (Detail) - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Disclosure of Net Income Loss of Held for Exchange Animal Health Business [Line Items] | |||||
Net sales | [1] | € 35,055 | € 33,821 | € 34,060 | [2] |
Gross profit | [1] | 24,593 | 24,006 | 23,942 | [2] |
Operating income | [1] | 5,803 | 6,534 | 5,624 | [2] |
Net income/(loss) of the exchanged/held-for-exchangeAnimal Health business | [1],[3] | 4,643 | 314 | (124) | [2] |
Animal Health Business [Member] | |||||
Disclosure of Net Income Loss of Held for Exchange Animal Health Business [Line Items] | |||||
Net sales | 2,708 | 2,515 | |||
Gross profit | 1,850 | 1,671 | |||
Operating income | 678 | 101 | |||
Income before tax and investments accounted for using the equity method | 6,343 | 672 | 92 | ||
Income tax expense | (1,700) | (359) | (216) | ||
Net income/(loss) of the exchanged/held-for-exchangeAnimal Health business | € 4,643 | € 314 | € (124) | ||
[1] | The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36. | ||||
[2] | Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.). | ||||
[3] | For 2015 and 2016, cash flows of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations). For 2017, all of the cash flows generated from the exchange of the Animal Health business for the Consumer Healthcare business of Boehringer Ingelheim (BI) are described in note (i) below. |
Exchanged_Held-For-Exchange 235
Exchanged/Held-For-Exchange Animal Health Business - Summary of Main Items Included in Net Income/(Loss) of Held-for-Exchange Animal Health Business (Parenthetical) (Detail) € in Millions | 12 Months Ended |
Dec. 31, 2017EUR (€) | |
Animal Health Business [Member] | Boehringer Ingelheim's Consumer Healthcare Business [Member] | |
Disclosure of Net Income Loss of Held for Exchange Animal Health Business [Line Items] | |
Consideration received | € 10,557 |
Exchanged_Held-For-Exchange 236
Exchanged/Held-For-Exchange Animal Health Business - Summary of Basic and Diluted Earnings Per Share for Held-for-Exchange Animal Health Business (Detail) - EUR (€) € / shares in Units, € in Millions, shares in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Disclosure of Earnings Per Share for Held for Exchange Animal Health Business [Line Items] | |||||
Net income/(loss) of the exchanged/held-for-exchangeAnimal Health business | [1],[2] | € 4,643 | € 314 | € (124) | [3] |
Average number of shares outstanding | [2] | 1,256.9 | 1,286.6 | 1,306.2 | [3] |
Average number of shares after dilution | [2] | 1,266.8 | 1,296 | 1,320.7 | [3] |
Basic earnings per share | [2] | € 6.71 | € 3.66 | € 3.28 | [3] |
Diluted earnings per share | [2] | € 6.66 | € 3.63 | € 3.25 | [3] |
Animal Health Business [Member] | |||||
Disclosure of Earnings Per Share for Held for Exchange Animal Health Business [Line Items] | |||||
Net income/(loss) of the exchanged/held-for-exchangeAnimal Health business | € 4,643 | € 314 | € (124) | ||
Basic earnings per share | € 3.69 | € 0.24 | € (0.10) | ||
Diluted earnings per share | € 3.67 | € 0.24 | € (0.09) | ||
[1] | For 2015 and 2016, cash flows of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations). For 2017, all of the cash flows generated from the exchange of the Animal Health business for the Consumer Healthcare business of Boehringer Ingelheim (BI) are described in note (i) below. | ||||
[2] | The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36. | ||||
[3] | Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.). |
Principal Accountants' Fees 237
Principal Accountants' Fees and Services - Disclosure of Accountants' Fees and Services (Detail) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Ernst and Young [Member] | ||
Disclosure of audit fees and other services [Line Items] | ||
Statutory audit of separate and consolidated financial statements | 73.00% | 92.00% |
Services other than statutory audit | 27.00% | 8.00% |
Auditor's remuneration, Total Percentage | 100.00% | 100.00% |
Price Water House Coopers [Member] | ||
Disclosure of audit fees and other services [Line Items] | ||
Statutory audit of separate and consolidated financial statements | 98.00% | 97.00% |
Services other than statutory audit | 2.00% | 3.00% |
Auditor's remuneration, Total Percentage | 100.00% | 100.00% |
Ernst and Young [Member] | ||
Disclosure of audit fees and other services [Line Items] | ||
Statutory audit of separate and consolidated financial statements | € 16.4 | € 16.7 |
Services other than statutory audit | 6 | 1.4 |
Audit-related services | 4.9 | 0.6 |
Tax | 0 | 0 |
Other services | 1.1 | 0.8 |
Total | 22.4 | 18.1 |
Price Water House Coopers [Member] | ||
Disclosure of audit fees and other services [Line Items] | ||
Statutory audit of separate and consolidated financial statements | 16.8 | 16.8 |
Services other than statutory audit | 0.4 | 0.6 |
Audit-related services | 0.4 | 0.4 |
Tax | 0 | 0 |
Other services | 0.2 | |
Total | € 17.2 | € 17.4 |
Principal Accountants' Fees 238
Principal Accountants' Fees and Services - Disclosure of Accountants' Fees and Services (Parenthetical) (Detail) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Ernst and Young [Member] | ||
Disclosure of audit fees and other services [Line Items] | ||
Audit of the financial statements of the parent company and its French subsidiaries | € 7.6 | € 7 |
Audit-related services charged to the parent company and its French subsidiaries | 4.8 | 0.5 |
Price Water House Coopers [Member] | ||
Disclosure of audit fees and other services [Line Items] | ||
Audit of the financial statements of the parent company and its French subsidiaries | 7.8 | 7.4 |
Audit-related services charged to the parent company and its French subsidiaries | € 0.3 | € 0.1 |
Principal Fully Consolidated Co
Principal Fully Consolidated Companies - Summary of Principal Companies and their Country of Incorporation (Detail) | 12 Months Ended |
Dec. 31, 2017 | |
Hoechst GmbH [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Hoechst GmbH |
Country | Germany |
Financial interest | 100.00% |
Zentiva Pharma GmbH [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Zentiva Pharma GmbH |
Country | Germany |
Financial interest | 100.00% |
Zentiva Inhalationsprodukte GmbH [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Zentiva Inhalationsprodukte GmbH |
Country | Germany |
Financial interest | 100.00% |
Sanofi Aventis Deutschland GmbH [member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-AventisDeutschland GmbH |
Country | Germany |
Financial interest | 100.00% |
Aventis Beteiligungsverwaltung GmbH [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Aventis Beteiligungsverwaltung GmbH |
Country | Germany |
Financial interest | 100.00% |
Genzyme GmbH [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Genzyme GmbH |
Country | Germany |
Financial interest | 100.00% |
Sanofi Aventis GmbH [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis GmbH |
Country | Austria |
Financial interest | 100.00% |
Sanofi Belgium [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi Belgium |
Country | Belgium |
Financial interest | 100.00% |
Sanofi European Treasury Center [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi European Treasury Center |
Country | Belgium |
Financial interest | 100.00% |
Genzyme Flanders BVBA [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Genzyme Flanders BVBA |
Country | Belgium |
Financial interest | 100.00% |
Sanofi-Aventis Denmark A/S [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis Denmark A/S |
Country | Denmark |
Financial interest | 100.00% |
Sanofi-Aventis SA [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis SA |
Country | Spain |
Financial interest | 100.00% |
Sanofi Oy [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi Oy |
Country | Finland |
Financial interest | 100.00% |
Sanofi [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi |
Country | France |
Financial interest | 100.00% |
Sanofi-Aventis France [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis France |
Country | France |
Financial interest | 100.00% |
Sanofi Winthrop Industries [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi Winthrop Industries |
Country | France |
Financial interest | 100.00% |
Sanofi aventis Recherche et Developpement [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis Recherche et Développement |
Country | France |
Financial interest | 100.00% |
Sanofi-Aventis Groupe [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis Groupe |
Country | France |
Financial interest | 100.00% |
Sanofi CLIR [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi CLIR |
Country | France |
Financial interest | 50.10% |
Sanofi Chimie [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi Chimie |
Country | France |
Financial interest | 100.00% |
Francopia [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Francopia |
Country | France |
Financial interest | 100.00% |
Sanofi-Aventis Europe SAS [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-AventisEurope SAS |
Country | France |
Financial interest | 100.00% |
Sanofi-Aventis Participations SAS [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis Participations SAS |
Country | France |
Financial interest | 100.00% |
Genzyme SAS [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Genzyme SAS |
Country | France |
Financial interest | 100.00% |
Genzyme Polyclonals SAS [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Genzyme Polyclonals SAS |
Country | France |
Financial interest | 100.00% |
Sanofi Pasteur (France) SA [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi Pasteur (France) SA |
Country | France |
Financial interest | 100.00% |
Aventis Pharma S.A. France [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Aventis Pharma SA (France) |
Country | France |
Financial interest | 100.00% |
Sanofi-Aventis Am Nord S.A.S. [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis Am Nord SAS |
Country | France |
Financial interest | 100.00% |
Zentiva France [member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Zentiva France |
Country | France |
Financial interest | 100.00% |
Aventis Agriculture [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Aventis Agriculture |
Country | France |
Financial interest | 100.00% |
Biopark By Sanofi [member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Biopark By Sanofi |
Country | France |
Financial interest | 100.00% |
Chattem Greece S.A. [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Chattem Greece S.A. |
Country | Greece |
Financial interest | 100.00% |
Sanofi-Aventis A.E.B.E. [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis A.E.B.E |
Country | Greece |
Financial interest | 100.00% |
Sanofi-Aventis Private Co, Ltd [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis Private Co, Ltd |
Country | Hungary |
Financial interest | 99.60% |
Chinoin Private Co. Ltd [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Chinoin Private Co. Ltd |
Country | Hungary |
Financial interest | 99.60% |
Carraig Insurance DAC [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Carraig Insurance DAC |
Country | Ireland |
Financial interest | 100.00% |
Sanofi-Aventis Ireland Ltd [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis Ireland Ltd |
Country | Ireland |
Financial interest | 100.00% |
Genzyme Ireland Limited [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Genzyme Ireland Limited |
Country | Ireland |
Financial interest | 100.00% |
Sanofi Spa [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi Spa |
Country | Italy |
Financial interest | 100.00% |
Genzyme Global Sarl [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Genzyme Global Sarl |
Country | Luxembourg |
Financial interest | 100.00% |
Sanofi-Aventis Norge AS [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis Norge AS |
Country | Norway |
Financial interest | 100.00% |
Sanofi-Aventis Netherlands B.V. [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis Netherlands B.V. |
Country | Netherlands |
Financial interest | 100.00% |
Genzyme Europe BV [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Genzyme Europe BV |
Country | Netherlands |
Financial interest | 100.00% |
Sanofi-Aventis Sp. z.o.o. [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis Sp.z.o.o. |
Country | Poland |
Financial interest | 100.00% |
Winthrop Farmaceutica Portugal Lda [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Winthrop Farmaceutica Portugal Lda |
Country | Portugal |
Financial interest | 100.00% |
Sanofi Produtos Farmaceuticos Lda [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi Produtos Farmaceuticos Lda |
Country | Portugal |
Financial interest | 100.00% |
Zentiva, k.s. [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Zentiva, k.s. |
Country | Czech Republic |
Financial interest | 100.00% |
Zentiva Group, a.s. [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Zentiva Group, a.s. |
Country | Czech Republic |
Financial interest | 100.00% |
Sanofi-Aventis, s.r.o. [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis, s.r.o. |
Country | Czech Republic |
Financial interest | 100.00% |
Sanofi-Aventis Romania SRL [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis Romania SRL |
Country | Romania |
Financial interest | 100.00% |
Sanofi-Synthelabo Ltd [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Synthelabo Ltd |
Country | United Kingdom |
Financial interest | 100.00% |
Sanofi Pasteur Holding Limited [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi Pasteur Holding Limited |
Country | United Kingdom |
Financial interest | 100.00% |
Chattem Limited (UK) [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Chattem Limited (UK) |
Country | United Kingdom |
Financial interest | 100.00% |
Sanofi-Aventis UK Holdings Limited [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis UK Holdings Limited |
Country | United Kingdom |
Financial interest | 100.00% |
Genzyme Limited [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Genzyme Limited |
Country | United Kingdom |
Financial interest | 100.00% |
May and Baker Limited [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | May and Baker Limited |
Country | United Kingdom |
Financial interest | 100.00% |
Aventis Pharma Limited [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Aventis Pharma Limited |
Country | United Kingdom |
Financial interest | 100.00% |
Fisons Limited [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Fisons Limited |
Country | United Kingdom |
Financial interest | 100.00% |
Limited Liability Zentiva Pharma [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Limited Liability Zentiva Pharma |
Country | Russia |
Financial interest | 100.00% |
Sanofi-Aventis Vostok [member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis Vostok |
Country | Russia |
Financial interest | 100.00% |
AO Sanofi Russia [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | AO Sanofi Russia |
Country | Russia |
Financial interest | 100.00% |
Zentiva a.s. [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Zentiva a.s. |
Country | Slovakia |
Financial interest | 98.90% |
Sanofi-Aventis Pharma Slovakia s.r.o. [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis Pharma Slovakia s.r.o. |
Country | Slovakia |
Financial interest | 100.00% |
Sanofi AB [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi AB |
Country | Sweden |
Financial interest | 100.00% |
Sanofi SA (Sanofi AG) [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi SA (Sanofi AG) |
Country | Switzerland |
Financial interest | 100.00% |
Sanofi-Aventis (Suisse) SA [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis (Suisse) SA |
Country | Switzerland |
Financial interest | 100.00% |
Pharmaton [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Pharmaton |
Country | Switzerland |
Financial interest | 100.00% |
Zentiva Saglik Urunleri Sanayi ve Ticaret A.S. [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Zentiva Saglik Urunleri Sanayi ve Ticaret A.S. |
Country | Turkey |
Financial interest | 100.00% |
Sanofi Aventis Ilaclari Limited Sirketi [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis Ilaclari Limited Sirketi |
Country | Turkey |
Financial interest | 100.00% |
Sanofi Pasteur Asi Ticaret A.S [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi Pasteur Asi Ticaret A.S. |
Country | Turkey |
Financial interest | 100.00% |
Sanofi Aventis Ukraine [Member] | Europe [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-aventis Ukraine |
Country | Ukraine |
Financial interest | 100.00% |
Sanofi US Services Inc [Member] | United States [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi US Services Inc |
Country | United States |
Financial interest | 100.00% |
Sanofi-Aventis US LLC [Member] | United States [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-AventisUS LLC |
Country | United States |
Financial interest | 100.00% |
Sanofi Pasteur Biologics, LLC [Member] | United States [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi Pasteur Biologics, LLC |
Country | United States |
Financial interest | 100.00% |
Chattem, Inc. [Member] | United States [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Chattem, Inc. |
Country | United States |
Financial interest | 100.00% |
Sanofi Pasteur VaxDesign Corporation [Member] | United States [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi Pasteur VaxDesign Corporation |
Country | United States |
Financial interest | 100.00% |
Carderm Capital L.P. [Member] | United States [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Carderm Capital L.P. |
Country | United States |
Financial interest | 100.00% |
Aventisub LLC [Member] | United States [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Aventisub LLC |
Country | United States |
Financial interest | 100.00% |
Genzyme Corporation [Member] | United States [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Genzyme Corporation |
Country | United States |
Financial interest | 100.00% |
Armour Pharmaceutical Company [Member] | United States [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Armour Pharmaceutical Company |
Country | United States |
Financial interest | 100.00% |
Sanofi Pasteur Inc. [Member] | United States [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi Pasteur Inc. |
Country | United States |
Financial interest | 100.00% |
Protein Sciences Corporation [Member] | United States [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Protein Sciences Corporation |
Country | United States |
Financial interest | 100.00% |
Aventis Inc. [Member] | United States [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Aventis Inc. |
Country | United States |
Financial interest | 100.00% |
VaxServe, Inc. [Member] | United States [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | VaxServe, Inc. |
Country | United States |
Financial interest | 100.00% |
Sanofi-Aventis South Africa (Pty) Ltd [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis South Africa (Pty) Ltd |
Country | South Africa |
Financial interest | 100.00% |
Zentiva South Africa (Pty) Ltd [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Zentiva South Africa (Pty) Ltd |
Country | South Africa |
Financial interest | 100.00% |
Sanofi Aventis Algerie [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis Algérie |
Country | Algeria |
Financial interest | 100.00% |
Winthrop Pharma Saidal SPA [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Winthrop Pharma Saidal SPA |
Country | Algeria |
Financial interest | 70.00% |
Sanofi-Aventis Argentina S.A. [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis Argentina S.A. |
Country | Argentina |
Financial interest | 100.00% |
Genzyme de Argentina SA [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Genzyme de Argentina SA |
Country | Argentina |
Financial interest | 100.00% |
Sanofi-Aventis Healthcare Pty Ltd [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis Healthcare Pty Ltd |
Country | Australia |
Financial interest | 100.00% |
Sanofi-Aventis Australia Pty Ltd [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis Australia Pty Ltd |
Country | Australia |
Financial interest | 100.00% |
Medley Farmaceutica Ltda [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Medley Farmaceutica Ltda |
Country | Brazil |
Financial interest | 100.00% |
Sanofi Aventis Farmaceutica Ltda [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis Farmaceutica Ltda |
Country | Brazil |
Financial interest | 100.00% |
Sanofi-Aventis Canada Inc. [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis Canada Inc. |
Country | Canada |
Financial interest | 100.00% |
Sanofi Consumer Health Inc [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi Consumer Health Inc |
Country | Canada |
Financial interest | 100.00% |
Sanofi Pasteur Limited (Canada) [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi Pasteur Limited (Canada) |
Country | Canada |
Financial interest | 100.00% |
Sanofi-Aventis de Chile SA [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis de Chile SA |
Country | Chile |
Financial interest | 100.00% |
Sanofi (Hangzhou) Pharmaceuticals Co., Ltd [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi (Hangzhou) Pharmaceuticals Co., Ltd |
Country | China |
Financial interest | 100.00% |
Sanofi (China) Investment Co., Ltd [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi (China) Investment Co., Ltd |
Country | China |
Financial interest | 100.00% |
Sanofi Beijing Pharmaceuticals Co.Ltd [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi Beijing Pharmaceuticals Co.Ltd |
Country | China |
Financial interest | 100.00% |
Shenzhen Sanofi Pasteur Biological Products Co, Ltd [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Shenzhen Sanofi pasteur Biological Products Co, Ltd |
Country | China |
Financial interest | 100.00% |
Winthrop Pharmaceuticals de Colombia SA [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Winthrop Pharmaceuticals de Colombia SA |
Country | Colombia |
Financial interest | 100.00% |
Genfar S.A. [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Genfar S.A. |
Country | Colombia |
Financial interest | 100.00% |
Sanofi-Aventis de Colombia S.A [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis de Colombia S.A. |
Country | Colombia |
Financial interest | 100.00% |
Sanofi-Aventis Korea Co. Ltd [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis Korea Co. Ltd |
Country | South Korea |
Financial interest | 100.00% |
Genzyme Korea Co Ltd [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Genzyme Korea Co Ltd |
Country | South Korea |
Financial interest | 100.00% |
Sanofi-Aventis Gulf FZE [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis Gulf FZE |
Country | United Arab Emirates |
Financial interest | 100.00% |
Sanofi Aventis del Ecuador S.A [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis del Ecuador S.A. |
Country | Ecuador |
Financial interest | 100.00% |
Sanofi Egypt S.A.E [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi Egypt S.A.E. |
Country | Egypt |
Financial interest | 99.80% |
Sanofi-Aventis de Guatemala S.A. [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis de Guatemala S.A. |
Country | Guatemala |
Financial interest | 100.00% |
Sunstone China Limited [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sunstone China Limited |
Country | Hong Kong |
Financial interest | 100.00% |
Sanofi-Aventis Hong-Kong Limited [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis Hong-Kong Limited |
Country | Hong Kong |
Financial interest | 100.00% |
Sanofi-Synthelabo (India) Private Ltd [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Synthelabo (India) Private Ltd |
Country | India |
Financial interest | 100.00% |
Sanofi India Limited [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi India Limited |
Country | India |
Financial interest | 60.40% |
Shantha Biotechnics Private Ltd [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Shantha Biotechnics Private Ltd |
Country | India |
Financial interest | 98.70% |
PT Aventis Pharma [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | PT Aventis Pharma |
Country | Indonesia |
Financial interest | 80.00% |
Sanofi-Aventis Israel Ltd [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis Israël Ltd |
Country | Israel |
Financial interest | 100.00% |
Sanofi K.K [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi K.K. |
Country | Japan |
Financial interest | 100.00% |
SSP Co., Ltd [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | SSP Co., Ltd |
Country | Japan |
Financial interest | 100.00% |
Winthrop Pharmaceuticals (Malaysia) SDN. BHD. [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Winthrop Pharmaceuticals (Malaysia) SDN. BHD |
Country | Malaysia |
Financial interest | 100.00% |
Sanofi-Aventis (Malaysia) SDN. BHD. [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis (Malaysia) SDN. BHD. |
Country | Malaysia |
Financial interest | 100.00% |
Sanofi-Aventis Maroc [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis Maroc |
Country | Morocco |
Financial interest | 100.00% |
Sanofi-Aventis de Mexico S.A de CV [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis de Mexico S.A de CV |
Country | Mexico |
Financial interest | 100.00% |
Sanofi-Aventis Winthrop SA de CV [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis Winthrop SA de CV |
Country | Mexico |
Financial interest | 100.00% |
Sanofi Pasteur SA de CV (Mexico) [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi Pasteur SA de CV |
Country | Mexico |
Financial interest | 100.00% |
Sanofi-Aventis Pakistan Ltd [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis Pakistan Ltd |
Country | Pakistan |
Financial interest | 52.90% |
Sanofi-Aventis de Panama S.A. [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis de Panama S.A. |
Country | Panama |
Financial interest | 100.00% |
Sanofi-Aventis Latin America SA [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis Latin America SA |
Country | Panama |
Financial interest | 100.00% |
Sanofi-Aventis del Peru SA [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis del Peru SA |
Country | Peru |
Financial interest | 100.00% |
Genfar Peru S.A. [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Genfar Peru S.A. |
Country | Peru |
Financial interest | 100.00% |
Sanofi-Aventis Philippines Inc [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis Philippines Inc |
Country | Philippines |
Financial interest | 100.00% |
Sanofi-Aventis de la Republica Dominicana S.A. [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis de la Republica Dominicana S.A. |
Country | Dominican Republic |
Financial interest | 100.00% |
Sanofi-Aventis Singapore Pte Ltd [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis Singapore Pte Ltd |
Country | Singapore |
Financial interest | 100.00% |
Aventis Pharma (Manufacturing) PTE LTD [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Aventis Pharma (Manufacturing) PTE LTD |
Country | Singapore |
Financial interest | 100.00% |
Sanofi Taiwan Co Ltd [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi Taiwan Co Ltd |
Country | Taiwan |
Financial interest | 100.00% |
Zentiva (Thailand) limited [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Zentiva (Thailand) limited |
Country | Thailand |
Financial interest | 100.00% |
Sanofi-Aventis Thailand Ltd [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis Thailand Ltd |
Country | Thailand |
Financial interest | 100.00% |
Sanofi-Aventis Pharma Tunisie [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis Pharma Tunisie |
Country | Tunisia |
Financial interest | 100.00% |
Winthrop Pharma Tunisia [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Winthrop Pharma Tunisie |
Country | Tunisia |
Financial interest | 100.00% |
Sanofi-Aventis de Venezuela SA [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Aventis de Venezuela SA |
Country | Venezuela |
Financial interest | 100.00% |
Sanofi-Synthelabo Vietnam [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi-Synthelabo Vietnam |
Country | Vietnam |
Financial interest | 70.00% |
Sanofi Vietnam Shareholding Company [Member] | Other Countries [Member] | |
Disclosure of Subsidiaries [Line Items] | |
Principal Companies | Sanofi Vietnam Shareholding Company |
Country | Vietnam |
Financial interest | 100.00% |
Principal Associates and Joint
Principal Associates and Joint Ventures - Summary of Principal Investments Accounted for Using the Equity Method (Detail) | 12 Months Ended |
Dec. 31, 2017 | |
Infraserv GmbH and Co. Hochst KG [Member] | |
Disclosure of Joint Operations [Line Items] | |
Name of joint operation | Infraserv GmbH & Co. Höchst KG |
Country of incorporation of joint operation | Germany |
Proportion of ownership interest in joint operation | 31.20% |
Bristol-Myers Squibb / Sanofi Canada Partnership [Member] | |
Disclosure of Joint Operations [Line Items] | |
Name of joint operation | Bristol-Myers Squibb / Sanofi Canada Partnership |
Country of incorporation of joint operation | Canada |
Proportion of ownership interest in joint operation | 49.90% |
China Resources Sanjiu Sanofi Consumer Healthcare Ltd [member] | |
Disclosure of Joint Operations [Line Items] | |
Name of joint operation | China Resources Sanjiu Sanofi Consumer Healthcare Ltd |
Country of incorporation of joint operation | China |
Proportion of ownership interest in joint operation | 30.00% |
Bristol-Myers Squibb / Sanofi Pharmaceuticals Holding Partnership [Member] | |
Disclosure of Joint Operations [Line Items] | |
Name of joint operation | Bristol-Myers Squibb / Sanofi Pharmaceuticals Holding Partnership |
Country of incorporation of joint operation | United States |
Proportion of ownership interest in joint operation | 49.90% |
Bristol-Myers Squibb / Sanofi Pharmaceuticals Partnership [Member] | |
Disclosure of Joint Operations [Line Items] | |
Name of joint operation | Bristol-Myers Squibb / Sanofi Pharmaceuticals Partnership |
Country of incorporation of joint operation | United States |
Proportion of ownership interest in joint operation | 49.90% |
Bristol-Myers Squibb / Sanofi Pharmaceuticals Partnership Puerto Rico [Member] | |
Disclosure of Joint Operations [Line Items] | |
Name of joint operation | Bristol-Myers Squibb / Sanofi Pharmaceuticals Partnership Puerto Rico |
Country of incorporation of joint operation | United States |
Proportion of ownership interest in joint operation | 49.90% |
Bristol-Myers Squibb / Sanofi-Synthelabo Partnership [Member] | |
Disclosure of Joint Operations [Line Items] | |
Name of joint operation | Bristol-Myers Squibb / Sanofi-Synthélabo Partnership |
Country of incorporation of joint operation | United States |
Proportion of ownership interest in joint operation | 49.90% |
Bristol-Myers Squibb / Sanofi-Synthelabo Puerto Rico Partnership [Member] | |
Disclosure of Joint Operations [Line Items] | |
Name of joint operation | Bristol-Myers Squibb / Sanofi-Synthélabo Puerto Rico Partnership |
Country of incorporation of joint operation | United States |
Proportion of ownership interest in joint operation | 49.90% |
Regeneron Pharmaceuticals, Inc. [Member] | |
Disclosure of Joint Operations [Line Items] | |
Name of joint operation | Regeneron Pharmaceuticals, Inc. |
Country of incorporation of joint operation | United States |
Proportion of ownership interest in joint operation | 22.20% |
Onduo LLC [Member] | |
Disclosure of Joint Operations [Line Items] | |
Name of joint operation | Onduo LLC |
Country of incorporation of joint operation | United States |
Proportion of ownership interest in joint operation | 50.00% |
Maphar [Member] | |
Disclosure of Joint Operations [Line Items] | |
Name of joint operation | Maphar |
Country of incorporation of joint operation | Morocco |
Proportion of ownership interest in joint operation | 48.30% |
Bio Atrium AG [Member] | |
Disclosure of Joint Operations [Line Items] | |
Name of joint operation | Bio Atrium AG |
Country of incorporation of joint operation | Switzerland |
Proportion of ownership interest in joint operation | 50.00% |
Events Subsequent - Additional
Events Subsequent - Additional Information (Detail) € / shares in Units, $ / shares in Units, shares in Millions, $ in Millions, € in Billions | Jan. 29, 2018EUR (€)€ / shares | Jan. 22, 2018USD ($)$ / shares | Jan. 07, 2018 | Jan. 31, 2018USD ($)shares | Dec. 31, 2019 |
Major business combination [Member] | Ablynx [Member] | |||||
Disclosure of non-adjusting events after reporting period [Line Items] | |||||
Price per share | € / shares | € 45 | ||||
Definitive agreement date | Jan. 29, 2018 | ||||
Major business combination [Member] | Bioverativ [Member] | |||||
Disclosure of non-adjusting events after reporting period [Line Items] | |||||
Price per share | $ / shares | $ 105 | ||||
Definitive agreement date | Jan. 22, 2018 | ||||
Definitive agreement approval date | Feb. 7, 2018 | ||||
Major business combination [Member] | Bioverativ [Member] | 2019 [Member] | |||||
Disclosure of non-adjusting events after reporting period [Line Items] | |||||
Business earnings accretive percentage | 5.00% | ||||
Major business combination [Member] | Alnylam [Member] | |||||
Disclosure of non-adjusting events after reporting period [Line Items] | |||||
Strategic restructuring date | Jan. 7, 2018 | ||||
Agreement amendment [Member] | Regeneron [Member] | |||||
Disclosure of non-adjusting events after reporting period [Line Items] | |||||
Prior development budget in total | $ 650 | ||||
Agreement amendment [Member] | Common Stock [Member] | Regeneron [Member] | |||||
Disclosure of non-adjusting events after reporting period [Line Items] | |||||
Common stock | shares | 1.4 | ||||
Agreement amendment [Member] | Class A Common Stock and Common Stock [Member] | Regeneron [Member] | |||||
Disclosure of non-adjusting events after reporting period [Line Items] | |||||
Percentage of shares outstanding | 25.00% | ||||
Agreement amendment [Member] | 2022 [Member] | Regeneron [Member] | |||||
Disclosure of non-adjusting events after reporting period [Line Items] | |||||
New development budget in total | $ 1,640 | ||||
Agreement amendment [Member] | Bottom of range [Member] | 2022 [Member] | Regeneron [Member] | |||||
Disclosure of non-adjusting events after reporting period [Line Items] | |||||
Prior development budget by partner | 325 | ||||
Agreement amendment [Member] | Top of range [Member] | 2022 [Member] | Regeneron [Member] | |||||
Disclosure of non-adjusting events after reporting period [Line Items] | |||||
New development budget by partner | $ 820 | ||||
Fully diluted basis [Member] | Major business combination [Member] | Ablynx [Member] | |||||
Disclosure of non-adjusting events after reporting period [Line Items] | |||||
Equity value | € | € 3.9 | ||||
Fully diluted basis [Member] | Major business combination [Member] | Bioverativ [Member] | |||||
Disclosure of non-adjusting events after reporting period [Line Items] | |||||
Equity value | $ 11,600 |