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Financial assets and liabilities measured at fair value
 12 Months Ended
Dec. 31, 2023
Fair Value Measurement [Abstract]  
Financial assets and liabilities measured at fair value 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:
•level 1: quoted prices in active markets for identical assets or liabilities (without modification or repackaging);
•level 2: quoted prices in active markets for similar assets and liabilities, or valuation techniques in which all important inputs are derived from observable market data;
•level 3: valuation techniques in which not all important inputs are derived from observable market data.
The valuation techniques used are described in Note B.8.5.
The table below shows the balance sheet amounts of assets and liabilities measured at fair value.
202320222021
Level in the fair value
hierarchy
Level in the fair value
hierarchy		Level in the fair value
hierarchy
(€ million)
NoteLevel 1Level 2Level 3Level 1Level 2Level 3Level 1Level 2Level 3
Financial assets measured at fair value
Quoted equity investmentsD.7.1.470 — — 387 — — 396 — — 
Unquoted equity investmentsD.7.1.— — 618 — — 549 — — 427 
Quoted debt securitiesD.7.2.346 — — 329 — — 447 — — 
Unquoted debt securities not meeting the definition of equity instruments
D.7.3.
— — 132 — — 115 — — 78 
Contingent consideration relating to divestments
D.7.3.
— — 214 — — 303 — — 378 
Financial assets held to meet obligations under deferred compensation plans
D.7.3. & D.11.
572 — — 512 — — 549 — — 
Non-current derivativesD.7.— — — — — — — 3 — 
Current derivativesD.11.— 201 — — 206 — — 295 — 
Mutual fund investmentsD.13.5,349 — — 9,537 — — 5,057 — — 
Total financial assets measured at fair value6,737 201 964 10,765 206 967 6,449 298 883 
Financial liabilities measured at fair value
Bayer contingent purchase consideration arising from the acquisition of GenzymeD.18.— — — — — 26 — — 59 
MSD contingent consideration (European vaccines business)D.18.— — 127 — — 204 — — 269 
Shire contingent consideration arising from the acquisition of Translate Bio
D.18.
— — 441 — — 380 — — 354 
Contingent consideration arising from acquisition of Amunix
D.18.
— — 137 — — 165 — — — 
Other contingent consideration arising from business combinations and acquisitions
D.18.— — 4 — — 4 — — 32 
Non-current derivatives
D.20.
— 164 — — 232 — — 6 — 
Current derivativesD.19.5— 127 — — 94 — — 79 — 
Total financial liabilities measured at fair value— 291 709 — 326 779 — 85 714 
No transfers between the different levels of the fair value hierarchy occurred during 2023.