UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 20-F/A
Amendment No.1
(Mark One)
☐ | REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 |
or
☒ | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the fiscal year ended December 31, 2017
Or
☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Or
☐ | SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Date of event requiring this shell company report
For the transition period from to
Commission File Number: 001-31368
Sanofi
(Exact name of registrant as specified in its charter)
N/A
(Translation of registrants name into English)
France
(Jurisdiction of incorporation or organization)
54, Rue La Boétie, 75008 Paris, France
(Address of principal executive offices)
Karen Linehan, Executive Vice President Legal Affairs and General Counsel
54, Rue La Boétie, 75008 Paris, France. Fax: 011 + 33 1 53 77 43 03. Tel: 011 + 33 1 53 77 40 00
(Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)
Securities registered or to be registered pursuant to Section 12(b) of the Act:
Title of each class: |
Name of each exchange on which registered: | |
American Depositary Shares, each representing one half of one ordinary share, par value 2 per share | New York Stock Exchange New York Stock Exchange (for listing purposes only) NASDAQ Global Market | |
Ordinary shares, par value 2 per share | ||
Contingent Value Rights |
Securities registered pursuant to Section 12(g) of the Act: None
The number of outstanding shares of each of the issuers classes of capital or common stock as of December 31, 2017 was:
Ordinary shares: 1,254,019,904
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YES ☒ NO ☐.
If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. YES ☐ NO ☒.
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of accelerated filer and large accelerated filer in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Emerging growth company ☐
Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:
U.S. GAAP ☐ | International Financial Reporting Standards as issued by the International Accounting Standards Board ☒ | Other ☐ |
If Other has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow. Item 17 ☐ Item 18 ☐
If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒.
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐
Explanatory Note
This Amendment No. 1 to the Annual Report on Form 20-F of Sanofi amends Sanofis Annual Report on Form 20-F for the year ended December 31, 2017 (the Original 20-F), which was filed with the Securities and Exchange Commission on March 7, 2018. Sanofi is filing this Amendment No. 1 solely to furnish the Interactive Data File discloser as Exhibit 101 in accordance with Rule 405 of Regulation S-T, which was not included in the Original 20-F. Exhibit 101 includes information in eXtensible Business Reporting Language (XBRL).
Except as described above, this Amendment No. 1 does not amend any information set forth in the Original 20-F, and Sanofi has not updated disclosures included therein to reflect any events that occurred subsequent to March 7, 2018.
Pursuant to Rule 406T of Regulation S-T, these interactive data files are deemed furnished and not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, and are deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and are otherwise not subject to liability under those sections.
PART III
ITEM 19. | EXHIBITS |
The following is a list of exhibits furnished as part of this Amendment No. 1 to Sanofis Annual Report on Form 20-F:
101.INS* XBRL Instance Document
101.SCH* XBRL Taxonomy Extension Schema Document
101.CAL* XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF* XBRL Taxonomy Extension Definition Linkbase Document
101.LAB* XBRL Taxonomy Extension Label Linkbase Document
101.PRE* XBRL Taxonomy Extension Presentation Linkbase Document
* | In accordance with Rule 406T(b)(2) of Regulation S-T, this eXtensible Business Reporting Language (XBRL) information is furnished and not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under those sections. |
SIGNATURE
The registrant hereby certifies that it meets all of the requirements for filing on Form 20-F and that it has duly caused and authorized the undersigned to sign this Amendment No. 1 to the Annual Report on Form 20-F on its behalf.
Sanofi | ||
(Registrant) | ||
By: | /s/ Alexandra ROGER | |
Name: Alexandra ROGER | ||
Title: Head of Securities Law and Capital Markets |
Date: March 16, 2018
Document and Entity Information |
12 Months Ended |
---|---|
Dec. 31, 2017
shares
| |
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 | 2017 |
Document Fiscal Period Focus | FY |
Trading Symbol | SNY |
Entity Registrant Name | Sanofi |
Entity Central Index Key | 0001121404 |
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 - 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 | ||
|
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 | 1,296.0 | 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] | ||||||||
|
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 | ||||||
|
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 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 | |||||||||||||||||||||||||||
|
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 Financial Statements |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2017 | |||
Text Block1 [Abstract] | |||
Notes to the Consolidated Financial Statements | NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
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 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 Interpretations |
12 Months Ended | ||||||||||||||||||||||||||||||||||||
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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 movements separately (see Note D.17.). 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:
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:
IFRS 9 alters the main accounting categories used for financial assets. Financial assets held by Sanofi that are classified as “available-for-sale” under IAS 39 will be reclassified as of January 1, 2018 into one of two categories: “financial assets at fair value through profit or loss” or “financial assets at fair value through other comprehensive income”. With effect from January 1, 2018 any gains on equity investments that Sanofi elects to classify as “financial assets at fair value through other comprehensive income” will no longer be recognized in profit or loss when the investment is sold. However, all dividends received from such investments will continue to be recognized in profit or loss. 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.
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.
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.
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:
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 operating leases are disclosed in Note D.21.1. 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:
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 |
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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:
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 Assets Held for Sale and Discontinued Operations) are met, and hence whether a non-current asset or asset group should be classified as “held for sale or exchange” and whether a discontinued operation should be reported separately. Such assessments are reviewed at each reporting date based on the facts and circumstances. |
Consolidation and Foreign Currency Translation of the Financial Statements of Venezuelan Subsidiaries |
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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:
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 €102 million in 2016. The Venezuelan subsidiaries made an immaterial contribution to net sales in 2017 (€18 million in 2016, €455 million in 2015) and had a cash position of €7 million as of December 31, 2017 (€6 million as of December 31, 2016, €90 million as of December 31, 2015). The net assets of the Venezuelan subsidiaries were not material as of December 31, 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 Structure of Sanofi |
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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 Accounting Policies |
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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. The equity method is not applied to equity interests that are classified as held-for-sale assets. 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 assets (other than receivables) and inventories acquired in foreign currencies are translated into the functional currency using the exchange rate prevailing at the acquisition date. 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 (€). In accordance with IAS 21 (The Effects of Changes in Foreign Exchange Rates), each subsidiary accounts for its transactions in the currency that is most representative of its economic environment (the functional currency). 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 interests B.3.1. Accounting for business combinations, transactions with non-controlling interests and loss of control 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 assets classified as held for sale (which are measured at fair value less costs to sell) and (ii) assets and liabilities that fall within the scope of IAS 12 (Income Taxes) and IAS 19 (Employee Benefits). Restructuring liabilities are recognized as a liability of the acquiree only if the acquiree has an obligation as of the acquisition date to carry out the restructuring. The principal accounting rules applicable to business combinations and transactions with non-controlling interests include:
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 interests, with subsequent remeasurements recognized in profit or loss. This treatment is consistent with the accounting applied to contingent consideration in the books of the acquirer. 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 impact on the substance of the original investment. 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 except for amortization charged against (i) acquired or internally-developed software and (ii) other rights of an industrial or operational nature, which is recognized in the relevant classification of expense by function. 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 synthesis process) are incurred after marketing approval has been obtained, in order to improve the industrial process for an active ingredient. To the extent that the six IAS 38 criteria are considered as having been met, such expenses are recognized as an asset in the balance sheet within Other intangible assets as incurred. Similarly, some clinical trials, for example those undertaken to obtain a geographical extension for a molecule that has already obtained marketing approval in a major market, may in certain circumstances meet the six capitalization criteria under IAS 38, in which case the related expenses are recognized as an asset in the balance sheet within Other intangible assets. Separately acquired research and development Payments for separately acquired research and development are capitalized within Other intangible assets provided that they meet the definition of an intangible asset: a resource that is (i) controlled by Sanofi, (ii) expected to provide future economic benefits for Sanofi, and (iii) identifiable (i.e. it is either separable or arises from contractual or legal rights). Under paragraph 25 of IAS 38, the first condition for capitalization (the probability that the expected future economic benefits from the asset will flow to the entity) is considered to be satisfied for separately acquired research and development. Consequently, upfront and milestone payments to third parties related to pharmaceutical products for which marketing approval has not yet been obtained are recognized as intangible assets, and amortized on a straight line basis over their useful lives beginning when marketing approval is obtained. 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 research and development and currently marketed products and are reliably measurable are identified separately from goodwill, measured at fair value and capitalized within Other intangible assets in accordance with IFRS 3 (Business Combinations) and IAS 38 (Intangible Assets). The related deferred tax liability is also recognized if a deductible or taxable temporary difference exists. In-process research and development acquired in a business combination is amortized on a straight line basis over its useful life from the date of receipt of marketing approval. 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 approach to accounting for property, plant and equipment is applied. Under this approach, each component of an item of property, plant and equipment with a cost which is significant in relation to the total cost of the item and which has a different useful life from the other components must be depreciated separately. 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:
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 research and development), and CGUs that include goodwill, are tested for impairment annually whether or not there is any indication of impairment, and more frequently if any event or circumstance indicates that they might be impaired. Such assets are not amortized. 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 in the income statement. 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, while reversals of impairment losses in respect of investments accounted for using the equity method are recognized within the income statement line item Share of profit/(loss) from investments accounted for using the equity method. Impairment losses taken against goodwill are never reversed, unless the goodwill is part of the carrying amount of an investment 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 Assets Held for Sale and Discontinued Operations), non-current assets and groups of assets are classified as held for sale in the balance sheet if their carrying amount will be recovered principally through a sale transaction rather than through continuing use. Within the meaning of IFRS 5, the term “sale” also includes exchanges for other assets. Non-current assets or asset groups held for sale must be available for immediate sale in their present condition, subject only to terms that are usual and customary for sales of such assets, and a sale must be highly probable. Criteria used to determine whether a sale is highly probable include:
Before initial reclassification of the non-current asset (or asset group) to Assets held for sale or exchange, the carrying amounts of the asset (or of all the assets and liabilities in the asset group) must be measured in accordance with the applicable standards. Subsequent to reclassification to Assets held for sale or exchange, the non-current asset (or asset group) is measured at the lower of carrying amount or fair value less costs to sell, with any write-down recognized by means of an impairment loss. Once a non-current asset has been reclassified as held for sale or exchange, it is no longer depreciated or amortized. 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 or liabilities within the balance sheet line items Assets held for sale or exchange or Liabilities related to assets held for sale or exchange, provided that the disposal satisfies the IFRS 5 classification criteria. The profit or loss generated by a held-for-sale asset group is reported in a separate line item in the income statement for the current period and for the comparative periods presented, provided that the asset group:
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 provided that there is sufficient evidence that Sanofi remains committed to the planned sale or exchange. Finally, in the event of changes to a plan of sale that require an asset no longer to be classified as held for sale, IFRS 5 specifies the following treatment:
B.8. Financial instruments B.8.1. Non-derivative financial assets 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 financial assets, based on the type of asset and on management intention at the date of initial recognition. The designation and classification of such financial assets are subsequently reassessed at the end of each reporting period. Non-derivative financial assets are recognized on the date when Sanofi becomes party to the contractual terms of the asset. On initial recognition, financial assets are measured at fair value, plus direct transaction costs in the case of financial assets not classified as fair value through profit or loss. Classification, presentation and subsequent measurement of non-derivative financial assets are as follows: Financial assets at fair value through profit or loss These assets are classified in the balance sheet within the line items Other non-current assets, Other current assets and 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 or 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 or Financial expenses. Available-for-sale financial assets Available-for-sale financial assets are non-derivative financial assets that are (i) designated by management as available-for-sale or (ii) not classified as “Financial assets at fair value through profit or loss”, “Held-to-maturity investments” or “Loans and receivables”. This category includes equity interests in quoted or unquoted companies other than investments accounted for using the equity method (associates and joint ventures). Available-for-sale financial assets are classified in Other non-current assets. Available-for-sale financial assets are measured at fair value, without any deduction for transaction costs that may be incurred on sale. Gains and losses arising from changes in the fair value of these assets, including unrealized foreign exchange gains and losses, are recognized directly in equity in the consolidated statement of comprehensive income in the period in which they occur, except for impairment losses and foreign exchange gains and losses on debt instruments. On derecognition of an available-for-sale financial asset, or on recognition of an impairment loss on such an asset, the cumulative gains and losses previously recognized in equity are recognized in the income statement for the period within Financial income or Financial expenses. Interest income and dividends on equity instruments are recognized in the income statement within Financial income when Sanofi is entitled to receive payment. Available-for-sale financial assets in the form of equity interests in companies not quoted in an active market are measured at cost if their fair value cannot be measured reliably; an impairment loss is recognized when there is objective evidence that such an asset is impaired. Contingent consideration receivable in connection with divestments is recognized as an available-for-sale financial asset at fair value (plus any transaction costs), provided that it represents an unconditional right to receive cash as of the date of the divestment. Fair value is initially measured on the basis of estimated future cash flows. 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 investments Held-to-maturity investments are non-derivative financial assets with fixed or determinable payments and fixed maturities that Sanofi has the positive intention and ability to hold to maturity. Such investments are measured at amortized cost using the effective interest method. Loans and receivables Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. They are presented within the line items Other current assets, Accounts receivable and Cash and cash equivalents. Loans with a maturity of more than 12 months are presented in “Long-term loans and advances” within Other non-current assets. Those financial assets are measured at amortized cost using the effective interest method. B.8.2. Impairment of non-derivative financial assets Indicators of impairment are reviewed for all non-derivative financial assets at the end of each reporting period. Such indicators include default in contractual payments, significant financial difficulties of the issuer or debtor, probability of bankruptcy, or a prolonged or significant decline in quoted market price. An impairment loss is recognized in the income statement if there is objective evidence of impairment resulting from one or more events after the initial recognition of the asset (a “loss event”) and that loss event has a reliably measurable impact on the estimated future cash flows of the financial asset (or group of financial assets). 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 financial asset, the cumulative losses previously recognized directly in equity are recorded in the income statement. The loss recognized in the income statement is the difference between the acquisition cost (net of principal repayments and amortization) and the fair value at the time of impairment, less any impairment loss previously recognized in the income statement. 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 in the income statement. Impairment losses in respect of trade receivables are recognized within Selling and general expenses in the income statement. Impairment losses on equity instruments classified as available-for-sale financial assets cannot be reversed through the income statement. 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 or in Financial income or Financial expenses, depending on the nature of the underlying economic item which is hedged. 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 for hedges related to operating activities, or within Financial income or Financial expenses for hedges related to investing or financing activities. 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 for hedges of operating activities, and within Financial income or Financial expenses for hedges of investing or financing activities. 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 for hedges related to operating activities, or within Financial income or Financial expenses for hedges related to investing or financing activities. When a forecast transaction results in the recognition of a non-financial asset or liability, cumulative changes in the fair value of the hedging instrument previously recognized in equity are included in the initial measurement of that asset or liability. 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 or Financial expenses. When the investment in the foreign operation is sold, the changes in the fair value of the hedging instrument previously recognized in equity are reclassified to the income statement within Financial income or 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 financial liabilities 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 in the income statement over the term of the debt using the effective interest method. Liabilities related to business combinations and to non-controlling interests 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 interests. Adjustments to the fair value of commitments to buy out equity holders of subsidiaries, including put options granted to non-controlling interests, are recognized in equity. Other non-derivative financial liabilities Other non-derivative financial liabilities include trade accounts payable, which are measured at fair value (which in most cases equates to face value) on initial recognition, and subsequently at amortized cost. 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.
The other financial assets and liabilities included in the consolidated balance sheet are:
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 financial assets, cash equivalents, derivative instruments and debt are described in the discussions of risk factors presented in Item 3.D. and Item 11. 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 by our customers”. 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 method, depending on the nature of the inventory. 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.
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. 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. 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 provisions and other non-current liabilities. 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 provisions for certain obligations, such as legal or constructive environmental obligations and litigation, where an outflow of resources is probable and the amount of the outflow can be reliably estimated. Where the effect of the time value of money is material, those provisions are measured at the present value of the expenditures expected to be required to settle the obligation, calculated using a discount rate that reflects an estimate of the time value of money and the risks specific to the obligation. Increases in provisions to reflect the effects of the passage of time are recognized within Financial expenses. 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. Net sales comprise revenue from sales of pharmaceutical products, active ingredients and vaccines, net of sales returns, of customer incentives and discounts, and of certain sales-based payments paid or payable to the healthcare authorities. 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:
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 medicines. 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:
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 because they are not derived from the sale of products manufactured by Sanofi. B.14. Cost of sales Cost of sales consists primarily of the industrial cost of goods sold, payments made under licensing agreements, and distribution costs. The industrial cost of goods sold includes the cost of materials, depreciation of property, plant and equipment, amortization of software, personnel costs, and other expenses attributable to production. 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. B.16. Other operating income and expenses B.16.1. Other operating income Other operating income includes the share of profits that Sanofi is entitled to receive from alliance partners in respect of product marketing agreements. It also includes revenues generated under certain complex agreements, which may include partnership and co-promotion arrangements. 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 mainly comprise the share of profits that alliance partners are entitled to receive from Sanofi under product marketing agreements.
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. 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 financial asset. 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. 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.
B.20. Other gains and losses, and litigation The line item Other gains and losses, and litigation includes the impact of material transactions of an unusual nature or amount which Sanofi believes it necessary to report separately in the income statement in order to improve the relevance of the financial statements, such as:
B.21. Financial expenses and income B.21.1. Financial expenses Financial expenses mainly comprise interest charges on debt financing; negative changes in the fair value of financial instruments (where changes in fair value are recognized in profit or loss); realized and unrealized foreign exchange losses on financing and investing activities; impairment losses on financial instruments; and any reversals of impairment losses on financial instruments. Financial expenses also include expenses arising from the unwinding of discount on long-term liabilities, and the net interest cost related to employee benefits. This line item does not include commercial cash discounts, which are deducted from net sales. B.21.2. Financial income Financial income includes interest and dividend income; positive changes in the fair value of financial instruments (where changes in fair value are recognized in profit or loss); realized and unrealized foreign exchange gains on financing and investing activities; and gains or losses on disposals of financial assets. B.22. Income tax expense Income tax expense includes all current and deferred taxes of consolidated companies. Sanofi accounts for deferred taxes in accordance with IAS 12 (Income Taxes), using the methods described below:
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 includes the effects of tax reassessments and tax disputes, and any penalties and late payment interest arising from such disputes that have the characteristics of income taxes within the meaning of paragraph 2 of IAS 12 (“taxes which are based on taxable profits”). 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, net of deferred taxes; they are not subsequently reclassifiable to profit or loss. 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 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. In accordance with IFRS 2 (Share-Based Payment), services received from employees as consideration for stock options are recognized as an expense in the income statement, with the opposite entry recognized in equity. The expense corresponds to the fair value of the stock option plans, and is charged to income on a straight-line basis over the four-year vesting period of the plan. The fair value of stock option plans is measured at the date of grant using the Black-Scholes valuation model, taking into account the expected life of the options. The resulting expense also takes into account the expected cancellation rate of the options. The expense is adjusted over the vesting period to reflect actual cancellation rates resulting from option-holders ceasing to be employed by Sanofi. 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 or three-year vesting period are subject to a two-year lock-up period. 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. 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. 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 transactions are not material. 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. 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:
Sanofi is not subject to any constraints on equity capital imposed by third parties. Total equity includes Equity attributable to equity holders of Sanofi and Equity attributable to non-controlling interests, as shown in the consolidated balance sheet. Sanofi defines “Debt, net of cash and cash equivalents” as (i) the sum of short-term debt, long-term debt and interest rate derivatives and currency derivatives used to hedge debt, minus (ii) the sum of cash and cash equivalents and interest rate derivatives and currency derivatives used to hedge cash and cash equivalents. |
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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 development of fully human therapeutic antibodies by a maximum of $160 million per year through 2017. Sanofi had an option to develop and commercialize antibodies discovered by Regeneron pursuant to the collaboration. Following the signature in July 2015 of the immuno-oncology collaboration agreement described below, $75 million (spread over three years) was reallocated to that new agreement.
If the option was exercised, Sanofi co-develops the antibody with Regeneron and is responsible for funding. Sanofi and Regeneron share co-promotion rights and profits on sales of the co-developed antibodies. On receipt of the first positive Phase III trial results for any such antibody, the subsequent Phase III costs for that antibody are split 80% Sanofi, 20% Regeneron. Amounts received from Regeneron under those arrangements are recognized by Sanofi as a reduction in the line item Research and development expenses. Once a product begins to be commercialized, and provided that the share of quarterly results under the agreement represents a profit, Sanofi is entitled to an additional profit-share (capped at 10% of Regeneron’s share of quarterly profits) until Regeneron has paid 50% of the cumulative development costs incurred by the parties in the collaboration. In addition, Sanofi may be required to make milestone payments based on aggregate sales of all antibodies. As of December 31, 2017 the cumulative development costs incurred by the two parties were €5.2 billion (comprising €2.9 billion funded 100% by Sanofi, and €2.3 billion funded 80% by Sanofi and 20% by Regeneron, amounts translated into euros at the closing US dollar exchange rate). On the earlier of (i) 24 months before the scheduled launch date or (ii) the first positive Phase III trial results, Sanofi and Regeneron share the commercial expenses of the antibodies co-developed under the license agreement. Sanofi recognizes all the sales of those antibodies. Profits and losses arising from commercial operations in the United States are split 50/50. Outside the United States, Sanofi is entitled to between 55% and 65% of profits depending on sales of the antibodies, and bears 55% of any losses. The share of profits and losses attributable to Regeneron under the agreement is recognized in the line items Other operating income or Other operating expenses, which are components of operating income. In addition, Regeneron is entitled to receive payments of up to $250 million contingent on the attainment of specified levels of sales outside the United States. Praluent®, Dupixent®, Kevzara®, and REGN3500 (SAR 440340) will continue to be developed, and commercialized as applicable, with Regeneron under the Antibody License and Collaboration Agreement (LCA) following the expiry of the discovery agreement. 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) inhibitor antibody currently in Phase IIb (for cutaneous squamous cell carcinoma) and Phase III (for non-small cell lung cancer), and expect to initiate clinical trials with new therapeutic candidates based on ongoing innovative preclinical programs. Sanofi made an upfront payment of $640 million to Regeneron. The two companies will then invest approximately $1 billion from discovery through proof of concept (POC) development (usually a Phase IIa study) of monotherapy and novel combinations of immuno-oncology antibody candidates to be funded 25% by Regeneron ($250 million) and 75% by Sanofi ($750 million). Under the terms of the IO Discovery and Development Agreement, Sanofi is entitled to an additional share of profits of up to 50% of the clinical development costs initially funded by Sanofi. That additional profit-share is capped at 10% of the share of Regeneron’s quarterly profits arising under the IO LCA. 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 inhibitor antibody. In January 2018, Sanofi and Regeneron announced an agreement to increase the PD-1 development budget from the previously disclosed $650 million to $1.64 billion, which will continue to be shared 50/50. In addition, Sanofi will make a one-time milestone payment of $375 million to Regeneron in the event that sales of a PD-1 product and any other collaboration antibody sold for use in combination with a PD-1 product were to exceed, in the aggregate, $2 billion in any consecutive 12-month period. Finally, the two companies agreed to reallocate $75 million (spread over three years) to immuno-oncology antibody research and development from Sanofi’s $160 million annual contribution to their existing antibody discovery collaboration. Beyond the committed funding, additional funding will be allocated as programs enter post-POC development. 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®collaboration agreement with Regeneron (related to the development and commercialization of Zaltrap®) or the collaboration agreement with Regeneron on monoclonal antibodies (see “Collaboration agreement on the discovery, development and commercialization of human therapeutics antibodies” above), each as amended and (ii) other specified events. 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 transactions, and to vote in its sole discretion with respect to liquidation or dissolution, stock issuances equal to or exceeding 20% of the outstanding shares or voting rights of Regeneron’s Class A Stock and Common Stock (taken together), and new equity compensation plans or amendments if not materially consistent with Regeneron’s historical equity compensation practices. 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®/Avapro®/Karvea®) and the anti-atherothrombosis treatment clopidogrel bisulfate (Plavix®/Iscover®). On September 27, 2012, Sanofi and BMS signed an agreement relating to their alliance following the loss of exclusivity of Plavix® and Avapro®/Avalide® in many major markets. Under the terms of this agreement, which took effect on January 1, 2013, BMS returned to Sanofi its rights to Plavix® and Avapro®/Avalide® in all markets worldwide with the exception of Plavix® in the United States and Puerto Rico, giving Sanofi sole control and freedom to operate commercially in respect of those products. In exchange, BMS will receive royalty payments on Sanofi’s sales of branded and unbranded Plavix® and Avapro®/Avalide® worldwide (except for Plavix® in the United States and Puerto Rico) until 2018, and will also receive a payment of $200 million from Sanofi in December 2018, part of which will be used to buy out the non-controlling interests (see Note D.18.). Rights to Plavix® in the United States and Puerto Rico remain unchanged and continue to be governed by the terms of the original agreement until December 2019. In all of the territories managed by Sanofi (including the United States and Puerto Rico for Avapro®/Avalide®) as defined in the new agreement, Sanofi recognizes in its consolidated financial statements the revenue and expenses generated by its own operations. The share of profits reverting to BMS subsidiaries is presented within Net income attributable to non-controlling interests in the income statement. In the territory managed by BMS (United States and Puerto Rico for Plavix®), Sanofi recognizes its share of profits and losses within the line item Share of profit/(loss) from investments accounted for using the equity method. |
Exchange of the Animal Health business |
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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 and Liabilities related to assets held for sale or exchange, respectively, in the consolidated balance sheets as of December 31, 2016 and 2015. In addition, because the Animal Health business qualifies as a discontinued operation under IFRS 5 (see Note B.7.), the net income or loss from that business was presented separately in the consolidated income statement within the line item Net income/(loss) of the exchanged/held-for-exchange Animal Health business. This presentation in a separate line item in the income statement applied to operations for the year ended December 31, 2016 and for the comparative periods presented. Following the finalization of the exchange deal with Boehringer Ingelheim on January 1, 2017, the Animal Health business no longer qualified as an operating segment in 2016 and the comparatives for 2015 were amended accordingly. 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 Animal Health business”. 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 €10,557 million for Sanofi’s Animal Health business and €6,239 million for Boehringer Ingelheim’s CHC business. Divestment of the Animal Health business Sanofi has recognized a pre-tax gain of €6,343 million within the line item Net income of the exchanged/held-for-exchange Animal Health business, and an after-tax gain of €4,643 million.
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 € million):
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 portion of goodwill amounts to €1,876 million. This business generated sales of €1,407 million in the year ended December 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 only recombinant protein-based influenza vaccine approved by the FDA in the United States. The provisional purchase price allocation resulted in the recognition of goodwill amounting to €125 million, as indicated below:
The acquisition price includes two contingent consideration milestones elements of €42 million each. 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 €184 million in 2017, €115 million in 2016 and €117 million in 2015. Sanofi’s investment in Regeneron had a carrying amount of €2,512 million as of December 31, 2017, compared with €2,548 million as of December 31, 2016 and €2,245 million as of December 31, 2015 (see Note D.6.). This represents an equity interest of 22.2% as of December 31, 2017, compared with 22.1% as of December 31, 2016 and 2015. 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 €127 million received on January 4, 2017 and (ii) contingent consideration based on a percentage of future MSD sales during the 2017-2024 period of specified products previously distributed by SPMSD, and receivable in annual installments over the same period. As of December 31, 2016, the fair value of this contingent consideration was measured at €458 million and recognized in the “available-for-sale financial assets” category (see Note D.7). The pre-tax gain on the divestment, amounting to €211 million, is presented within the line item Other gains and losses, and litigation (see Note D.28) for the year ended December 31, 2016. A negative price adjustment of €31 million is presented within the same line item in 2017.
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 €21 million, as presented in the table below:
The purchase price essentially comprises (i) a fixed sum of €154 million paid on January 4, 2017 and (ii) contingent consideration of €354 million based on a percentage of future sales made by Sanofi Pasteur during the 2017-2024 period of specified former SPMSD products, to be paid in annual installments over that period. In accordance with IFRS 3 (Business Combinations), that contingent consideration was recognized in Liabilities related to business combinations and to non-controlling interests as of December 31, 2016 (see Note D.18.). A negative price adjustment of €16 million was recognized in the year ended December 31, 2017. D.2.4. Other acquisitions and divestments The impacts of the other acquisitions made during 2017, 2016 and 2015 are not material for Sanofi. |
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Property, plant and equipment | D.3. Property, plant and equipment Property, plant and equipment (including assets held under finance leases) comprise:
Acquisitions during 2017 amounted to €1,394 million. Of this amount, €1,005 million related to the Pharmaceuticals segment, primarily investments in industrial facilities (€741 million in 2017, compared with €761 million in 2016 and €594 million in 2015 excluding Genzyme in each case) and in constructing and equipping research sites (€138 million in 2017, versus €164 million in 2016 and €82 million in 2015). Genzyme made a zero contribution to Pharmaceuticals segment acquisitions in 2017 (versus €8 million in 2016 and €80 million in 2015). The Vaccines segment made €379 million of acquisitions in 2017 (versus €271 million in 2016 and €260 million in 2015). The Consumer Healthcare segment accounted for €10 million of investments. Acquisitions of property, plant and equipment during the year included €20 million of capitalized interest costs (versus €17 million in 2016 and €15 million in 2015).
Firm orders of property, plant and equipment were €508 million as of December 31, 2017 (€545 million as of December 31, 2016 and €436 million as of December 31, 2015). Property, plant and equipment pledged as security for liabilities amounted to €128 million as of December 31, 2017 (versus €241 million as of December 31, 2016 and €249 million as of December 31, 2015). 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 €254 million (including €87 million on property, plant and equipment associated with the dengue vaccine; see Note D.26.). In 2016, net impairment losses were €159 million. In 2015, net impairment losses totaled €132 million, primarily in the Pharmaceuticals segment.
The table below shows amounts for items of property, plant and equipment held under finance leases:
Future minimum lease payments due under finance leases as of December 31, 2017 were €39 million (versus €66 million as of December 31, 2016 and €83 million as of December 31, 2015), including €7 million of interest (versus €13 million as of December 31, 2016 and €15 million as of December 31, 2015).
As of December 31, 2017, the payment schedule is as follows:
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Goodwill and other intangible assets | D.4. Goodwill and other intangible assets Movements in goodwill comprise:
Acquisition of Protein Sciences (2017) The provisional purchase price allocation for Protein Sciences resulted in the recognition of intangible assets (other than goodwill) totaling €776 million as of the acquisition date (August 25, 2017). The principal asset recognized was the marketed vaccine Flublok®, at a fair value of €767 million. The goodwill arising from the acquisition of Protein Sciences was provisionally measured at €125 million as of the acquisition date. 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 €3,771 million at the acquisition date (January 1, 2017). Those assets consist of a portfolio of marketed products in strategic therapeutic fields including Digestive Health (Dulcolax®, Zantac®), Pain Relief (Buscopan®, Eve®), Allergy, Cough and Cold (Mucosolvan®, Bisolvon®), and Vitamins, Minerals and Supplements (Pharmaton®).
The goodwill arising from the acquisition of Boehringer Ingelheim’s Consumer Healthcare business amounted to €2,222 million as of the acquisition date. 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 €465 million at the acquisition date (December 31, 2016). Those assets consist of the vaccines portfolio previously held by the Sanofi Pasteur MSD joint venture comprising pediatric combination, adult booster and endemics vaccines, that reverted to Sanofi on December 31, 2016 (see Note D.2.3.). Genzyme acquisition (2011) The Genzyme final purchase price allocation resulted in the recognition of intangible assets (other than goodwill) totaling €10,059 million at the acquisition date. That figure included €7,727 million for marketed products in the fields of rare diseases (primarily Cerezyme®, Fabrazyme® and Myozyme®), renal endocrinology (primarily Renagel®), biosurgery (primarily Synvisc®), and oncology. It also included intangible assets valued at €2,148 million at the acquisition date relating to Genzyme’s in-process research and development projects, primarily Lemtrada® (alemtuzumab) and eliglustat. The Genzyme brand was attributed a fair value of €146 million. Goodwill arising from the acquisition of Genzyme amounted to €4,775 million as of December 31, 2017 (versus €5,031 million as of December 31, 2016 and €4,946 million as of December 31, 2015). 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 research and development represented less than 1%. 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 (€474 million) came into commercial use, and started being amortized from the date of marketing approval. The main product involved was Cerdelga® (eliglustat) outside the United States. Aventis acquisition (2004) On August 20, 2004, Sanofi acquired Aventis, a global pharmaceutical group created in 1999 by the merger between Rhône-Poulenc and Hoechst.
The total purchase price was €52,908 million, of which €15,894 million was settled in cash. Goodwill arising from the Aventis acquisition amounted to €29,284 million as of December 31, 2017 (versus €31,124 million as of December 31, 2016 and €30,587 million as of December 31, 2015). 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:
“Products, trademarks and other rights” (excluding items relating to the Animal Health business, reported within the line item Assets held for sale or exchange, see Note D.36.), mainly comprise:
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:
Acquisitions of other intangible assets (excluding software) during 2017 amounted to €529 million. During 2017, €9 million of acquired research and development came into commercial use, and started being amortized from the date of marketing approval. 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® and Soliqua™ 100/33 (€52 million). 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 (€230 million).
Amortization of other intangible assets is recognized in the income statement within the line item Amortization of intangible assets, except for amortization of software and other rights of an industrial or operational nature which is recognized in the relevant classification of expense by function. An analysis of amortization of software is shown in the table below:
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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:
The value in use of each CGU was determined by applying an after-tax discount rate to estimated future after-tax cash flows. 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 discount rates applied to estimated pre-tax cash flows are calculated by iteration from the previously-determined value in use. Those pre-tax discount rates were 10.5% for the Pharmaceuticals CGU, 10.1% for the Consumer Healthcare CGU and 10.8% for the Vaccines CGU, and equate to a uniform rate of 10.5% for Sanofi as a whole. 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:
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:
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:
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 discount rate to the estimated future after-tax cash flows from that asset. This reflects the fact that in most instances, there are no market data that would enable fair value less costs to sell to be determined other than by means of a similar estimate based on future cash flows. For the purposes of impairment testing, the tax cash flows relating to the asset are determined using a notional tax rate incorporating the notional tax benefit that would result from amortizing the asset if its value in use were regarded as its depreciable amount for tax purposes. Applying after-tax discount rates to after-tax cash flows gives the same values in use as would be obtained by applying pre-tax discount rates to pre-tax cash flows. The after-tax discount rates used in 2017 for impairment testing of other intangible assets in the Pharmaceuticals, Vaccines and Consumer Healthcare CGUs were obtained by adjusting Sanofi’s weighted average cost of capital to reflect specific country and business risks, giving after-tax rates in a range from 7.0% to 12.1%. In 2017, impairment testing of other intangible assets (excluding software) resulted in the recognition of a €310 million net impairment loss (of which €17 million in Cost of sales), relating mainly to marketed products in the Vaccines segment (€190 million) and the Pharmaceuticals segment (€23 million), and to research and development projects in both those segments (€79 million). The impairment loss recognized for the Vaccines segment relates to intangible assets associated with the Dengue vaccine and arises from revisions to sales forecasts following results of long-term clinical trials and the resulting requirement to update the product label. In 2016, impairment testing of other intangible assets (excluding software) resulted in the recognition of a €192 million net impairment loss, comprising €58 million on research and development projects in the Pharmaceuticals and Vaccines segments and €134 million on rights for a number of marketed products in the Pharmaceuticals segment. In 2015, impairment testing of other intangible assets (excluding software) resulted in the recognition of a €767 million net impairment loss, comprising:
The amount of net impairment losses reclassified to Net income/(loss) of the exchanged/held-for-exchange Animal Health business in the year ended December 31, 2015 was €3 million. Property, plant and equipment Impairment losses taken against property, plant and equipment are disclosed in Note D.3. |
Investments accounted for using the equity method |
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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:
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):
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:
Funding commitments to associates and joint ventures amounted to €135 million as of December 31, 2017. 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:
The table below shows a reconciliation to the carrying amount of the investment:
As of December 31, 2017, the market value of Sanofi’s investment in Regeneron was €7,487 million (based on a quoted stock market price of $375.96 per share as of that date), compared with €8,159 million as of December 31, 2016 (based on a quoted stock market price of $367.09 per share) and €11,523 million as of December 31, 2015 (based on a quoted stock market price of $542.87 per share).
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 |
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Other Non-current Assets | D.7. Other non-current assets Other non-current assets comprise:
Available-for-sale financial assets Quoted equity securities Equity interests classified as available-for-sale financial assets include the following publicly traded investments:
Sanofi’s equity interest in Nichi-Iko Pharmaceuticals Co. Ltd. was divested in full during 2016. The carrying amount of that investment in the balance sheet was €63 million as of December 31, 2015.
Sanofi’s equity interest in Merrimack Pharmaceuticals, Inc. was divested in full during 2015. Unquoted equity investments Available-for-sale financial assets also include equity investments not quoted in an active market. The carrying amount of those investments was €123 million as of December 31, 2017, €112 million as of December 31, 2016 and €102 million as of December 31, 2015. Other available-for-sale financial assets As of December 31, 2017, Sanofi held €199 million of listed senior bonds (versus €100 million as of December 31, 2016). In connection with the dissolution of the Sanofi Pasteur MSD (SPMSD) joint venture, Sanofi recognized an available-for-sale financial asset for 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 (see Notes B.1., D.2.3. and D.12.). The fair value of the MSD contingent consideration was determined by applying the royalty percentage stipulated in the contract to discounted sales projections. A reduction of one percentage point in the discount rate would increase the fair value of the MSD contingent consideration by approximately 3%. 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 (See Note B.18.). As of December 31, 2017, the contingent consideration asset amounted to €342 million (including a non-current portion of €292 million), versus €458 million as of December 31, 2016. The movement during 2017 is due primarily to an adjustment of €145 million to the fair value of the assets to reflect revisions of sales forecasts. A 10% decline in stock prices of quoted equity investments classified as available-for-sale financial assets would have had the following impact as of December 31, 2017:
A 10% decline in the quoted market prices of Sanofi’s other available-for-sale financial assets combined with a simultaneous 0.5% rise in the yield curve would have had the following impact as of December 31, 2017:
Other disclosures about available-for-sale financial assets Other comprehensive income recognized in respect of available-for-sale financial assets represented unrealized gains (net of taxes) amounting to €851 million as of December 31, 2017 (primarily fair value remeasurements of the equity interest in Alnylam, recognized in Other comprehensive income); €158 million as of December 31, 2016 (including an immaterial amount relating to the Animal Health business); and €213 million as of December 31, 2015.
Long-term loans, advances and other non-current receivables Long-term loans, advances and other non-current receivables include €105 million comprising the amortized cost of fixed-rate bonds held in a Professional Specialized Investment Fund dedicated to Sanofi, and tax receivables due after more than one year. 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 Sale or Exchange |
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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:
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Inventories | D.9. Inventories Inventories comprise the following:
Write-downs include inventories of products on hand pending marketing approval. Inventories pledged as security for liabilities amounted to €18 million as of December 31, 2017 (compared with €24 million as of December 31, 2016 and €25 million as of December 31, 2015). |
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Accounts Receivable | D.10. Accounts receivable An analysis of accounts receivable is set forth below:
The impact of allowances against accounts receivable in 2017 was a net expense of €27 million (versus €32 million in 2016 and €53 million in 2015).
The gross value of overdue receivables was €644 million as of December 31, 2017, versus €597 million as of December 31, 2016 and €677 million as of December 31, 2015.
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 €437 million as of December 31, 2017 (€428 million as of December 31, 2016 and €414 million as of December 31, 2015). The amounts derecognized in 2017 relate mainly to the United States (€230 million) and Japan (€197 million). The residual guarantees relating to such transfers were immaterial as of December 31, 2017. |
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Other Current Assets | D.11. Other current assets An analysis of other current assets is set forth below:
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Financial Assets and Liabilities Measured at Fair Value |
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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:
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.
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 financial asset (see Notes D.2.3. and D.7.) and contingent consideration payable in Liabilities related to business combinations and non-controlling interests (see Notes D.2.3. and D.18.). As of December 31, 2017:
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Cash and Cash Equivalents |
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Cash and Cash Equivalents | D.13. Cash and cash equivalents
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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:
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 €16.8 billion as of December 31, 2017, compared with €25.2 billion as of December 31, 2016 and €23.9 billion as of December 31, 2015. 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 and the specific circumstances of each tax group. Deferred tax assets relating to tax loss carry-forwards as of December 31, 2017 amounted to €1,346 million, of which €287 million were not recognized. This compares with €1,502 million as of December 31, 2016 (of which €431 million were not recognized) and €1,721 million as of December 31, 2015 (of which €559 million were not recognized). The table below shows when tax losses available for carry-forward are due to expire:
Use of tax loss carry-forwards is limited to the entity in which they arose. In jurisdictions where tax consolidations are in place, tax losses can be netted against taxable income generated by entities in the same tax consolidation. 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 €302 million in 2017, €561 million in 2016 and €666 million in 2015. |
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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 €2,508,039,808, consisting of 1,254,019,904 shares with a par value of €2. Treasury shares held by Sanofi are as follows:
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:
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:
The total expense recognized for all restricted share plans in the year ended December 31, 2017 was €238 million, compared with €219 million in the year ended December 31, 2016 and €187 million in the year ended December 31, 2015 (the 2016 and 2015 figures exclude the Animal Health business). 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 €27 million based on attainment of the performance criteria. The corresponding expense was recognized on a straight line basis over the vesting period, in accordance with the policies described in Note B.24.3. 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 €70.01 per share, representing 80% of the average of the opening quoted market prices of Sanofi shares during the 20 trading days preceding June 14, 2017. 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 €21 million was recognized for this plan in the year ended December 31, 2017, of which €8 million was related to the employer’s contribution. 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 €57.25 per share, representing 80% of the average of the opening quoted market prices of Sanofi shares during the 20 trading days preceding June 8, 2016. 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 €16 million (excluding Animal Health) was recognized for this plan in the year ended December 31, 2016, of which €3 million was related to the employer’s contribution. 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 €702 million. 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 €1,453 million, and 19,947,202 of its own shares during 2016 for a total amount of €1,503 million. 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 €1,402 million, and 6,527,368 of its own shares during 2015 for a total amount of €551 million.
Transactions carried out under the liquidity contract in 2017 had a negative impact of €4 million on shareholders’ equity. 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:
The balance as of December 31, 2017 includes an after-tax amount of €66 million relating to hedges of net investments in foreign operations (refer to Note B.8.4. for a description of the relevant accounting policy), compared with €66 million as of December 31, 2016 and December 31, 2015.
That balance also includes €144 million of currency translation differences relating to the Animal Health business as of December 31, 2016 (€195 million as of December 31, 2015), presented in Assets held for sale or exchange and Liabilities related to assets held for sale or exchange for those periods. The movement in Currency translation differences is mainly attributable to the US dollar.
D.15.7. Other comprehensive income Movements within other comprehensive income are shown below:
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 €88.97 per share. The vesting period is four years and the plan expires on May 10, 2027. On May 4, 2016, the Board of Directors granted 402,750 stock subscription options at an exercise price of €75.90 per share. The vesting period is four years and the plan expires on May 4, 2026. On June 24, 2015, the Board of Directors granted 435,000 stock subscription options at an exercise price of €89.38 per share. The vesting period is four years and the plan expires on June 24, 2025. Measurement of stock option plans The fair value of the stock subscription option plan awarded in 2017 is €5 million. That amount is recognized as an expense over the vesting period, with the other side of the entry recognized directly in equity. On that basis, an expense of €0.7 million was recognized in the year ended December 31, 2017. The fair value of the stock subscription option plan awarded in 2016 is €3 million.
Sanofi used the following assumptions in determining the fair value of the plans:
Fair values per option awarded are €12.21, €6.60 and €16.12 for the 2017, 2016 and 2015 plans, respectively. The expense recognized for stock option plans (and the corresponding amounts recognized in equity) are €4 million for 2017, and €6 million for 2016 and 2015. As of December 31, 2017, the total unrecognized cost of unvested stock options was €8 million (versus €9 million as of December 31, 2016 and €12 million as of December 31, 2015), to be recognized over a weighted average period of 2.5 years. The current tax benefit related to the exercise of stock options in 2017 was €6 million (versus €2 million in 2016 and €12 million in 2015).
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.
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 €4 million.
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.
The exercise of all outstanding stock subscription options would increase shareholders’ equity by approximately €470 million. The exercise of each option results in the issuance of one share.
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:
The table below provides summary information about options outstanding and exercisable as of December 31, 2017:
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.
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. |
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Non-controlling Interests | D.16. Non-controlling interests Non-controlling interests did not represent a material component of Sanofi’s consolidated financial statements in the years ended December 31, 2017, 2016 and 2015. |
Debt, Cash and Cash Equivalents |
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Debt, Cash and Cash Equivalents | D.17. Debt, cash and cash equivalents Changes in financial position during the period were as follows:
“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
a) Principal financing transactions during the year The table below shows the movement in total debt during the period:
Sanofi did not carry out any bond issues in 2017. Three borrowings were repaid:
Sanofi also had two syndicated credit facilities of €4 billion each in place as of December 31, 2017 in order to manage its liquidity in connection with current operations. Sanofi has no further extension options for those credit facilities.
b) Debt, net of cash and cash equivalents by type, at value on redemption
Bond issues carried out by Sanofi under the Euro Medium Term Note (EMTN) program comprise:
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:
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:
In order to manage its liquidity needs for current operations, Sanofi has:
Sanofi also has two commercial paper programs: a €6 billion Negotiable European Commercial Paper program in France, and a $10 billion program in the United States. During 2017 only the US program was used, with an average drawdown of $1.9 billion and a maximum drawdown of $4 billion. As of December 31, 2017, neither of those programs was being utilized. 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
As of December 31, 2017, the main undrawn confirmed general-purpose credit facilities at holding company level amounted to €8 billion, of which half expires in 2020 and half in 2021. 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:
Sanofi manages its net debt in two currencies: the euro and the US dollar. The floating-rate portion of this debt exposes Sanofi to increases in interest rates, primarily in the Eonia and Euribor benchmark rates (for the euro) and in the US Libor and Federal Fund Effective rates (for the US dollar).
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:
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:
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 sensitivity of debt, net of cash and cash equivalents to interest rate fluctuations for 2018 is as follows:
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:
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:
f) Market value of debt The market value of debt, net of cash and cash equivalents and of derivatives and excluding accrued interest, was €5,718 million as of December 31, 2017 (versus €8,663 million as of December 31, 2016 and €7,633 million as of December 31, 2015). This compares with a value on redemption of €5,262 million as of December 31, 2017 (versus €8,246 million as of December 31, 2016 and €7,266 million as of December 31, 2015).
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:
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:
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Liabilities related to business combinations and to non-controllinginterests | D.18. Liabilities related to business combinations and to non-controlling interests For a description of the nature of the liabilities reported in the line item Liabilities related to business combinations and to non-controlling interests, refer to Note B.8.5. The principal acquisitions are described in Note D.2.
The liabilities related to business combinations and to non-controlling interests shown in the table below are level 3 instruments under the IFRS 7 fair value hierarchy (see Note D.12.) except for the CVRs issued in connection with the acquisition of Genzyme, which are level 1 instruments.
Movements in liabilities related to business combinations and to non-controlling interests are shown below:
As of December 31, 2017, Liabilities related to business combinations and to non-controlling interests mainly comprised: 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:
The fair value of this liability was measured at €701 million as of December 31, 2017, compared with €1,013 million as of December 31, 2016. The fair value of the Bayer liability is determined by applying the above contractual terms to sales projections which have been weighted to reflect the probability of success, and discounted. If the discount rate were to fall by 1 percentage point, the fair value of the Bayer liability would increase by approximately 3%.
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 €420 million as of December 31, 2017 (see Notes D.2.3. and D.12.). The fair value of the contingent consideration was determined by applying the royalty percentage stipulated in the contract to discounted sales projections.
The table below sets forth the maximum amount of contingent consideration payable and firm commitments to buy out non-controlling interests:
Total commitments relating to contingent consideration in connection with business combinations and buyouts of non-controlling interests were €4,832 million as of December 31, 2016 and €5,073 million as of December 31, 2015. The reduction in those commitments during 2017 was mainly attributable to commitments related to the Genzyme acquisition (i.e. annual payments of the Bayer contingent consideration) and in particular to currency translation effects on such commitments recognized in US dollars.
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Provisions and other liabilities |
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Provisions and other liabilities | D.19. Provisions and other liabilities Non-current provisions and other non-current liabilities break down as follows:
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 retirement benefit plans All employees working for Sanofi in France are entitled on retirement to a lump-sum payment, the amount of which depends both on their length of service and on the rights guaranteed by collective and internal agreements. The employee’s final salary is used in calculating the amount of these lump-sum retirement benefits. These plans represent approximately 34% of the Group’s total obligation in France. 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 defined-benefit pension plan 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 pension plan (SAV plus) replaced the previous top-up defined-benefit plan. New entrants joining the plan after April 1, 2015 contribute to a defined-contribution plan that is partially funded via the company’s CTA. 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 €699 million as of December 31, 2017, versus €663 million as of December 31, 2016 and €670 million as of December 31, 2015. This plan represents approximately 19% of Sanofi’s total defined-benefit obligation in Germany. United States Defined-benefit pension plans In the United States, there are two types of defined-benefit plan:
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:
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:
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:
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:
The tables below show Sanofi’s net liability in respect of pension plans and other post-employment benefits by geographical region:
The table below shows the fair value of plan assets relating to Sanofi’s pension and other post-employment plans, split by asset category:
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:
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:
The net pre-tax actuarial loss (excluding investments accounted for using the equity method) recognized directly in equity for the year ended December 31, 2017 was €3,035 million, compared with €3,006 million for the year ended December 31, 2016 and €2,898 million for the year ended December 31, 2015. 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 €11,915 million, compared with €11,713 million as of December 31, 2016 and €11,473 million as of December 31, 2015. The present value of Sanofi’s unfunded obligations was €1,097 million as of December 31, 2017, versus €1,375 million as of December 31, 2016 and €1,352 million as of December 31, 2015.
The total expense for pensions and other post-employment benefits is allocated between income statement line items as follows:
The estimated amounts of employer’s contributions to plan assets in 2018 are as follows:
The table below shows the expected timing of benefit payments under pension and other post-employment benefit plans for the next ten years:
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:
D.19.2. Restructuring provisions The table below shows movements in restructuring provisions classified in non-current and current liabilities:
Provisions for employee termination benefits as of December 31, 2017 amounted to €862 million (versus €1,159 million as of December 31, 2016 and €1,030 million as of December 31, 2015). The provision relating to France was €588 million as of December 31, 2017 (versus €933 million as of December 31, 2016 and €772 million as of December 31, 2015). 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 €4.4 million in the year ended December 31, 2015.
The timing of future termination benefit payments is as follows:
Restructuring provisions as of December 31, 2017 also include €104 million (versus €163 million as of December 31, 2016) relating to a five-year commitment to Evotec regarding the Toulouse R&D site in France. D.19.3. Other provisions Other provisions include provisions for risks and litigation relating to environmental, tax, commercial and product liability matters.
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 €139 million of those provisions will be utilized in 2018, and €333 million over the period from 2019 through 2022. “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 liabilities Other non-current liabilities amounted to €1,050 million as of December 31, 2017 (versus €216 million as of December 31, 2016 and €275 million as of December 31, 2015). As of December 31, 2017, a liability of €1,069 million was recognized, representing the estimated tax charge on deemed repatriation attributable to the accumulated earnings of non-US operations payable over 8 years. Of this, €708 million falls due after more than one year and is presented within “other non-current liabilities”, and €361 million falls due within less than one year and is presented within “Other current liabilities” (see Note D.19.5). In accordance with Sanofi accounting policies, the amount falling due after more than one year has not been discounted.
D.19.5. Current provisions and other current liabilities Current provisions and other current liabilities comprise the following:
“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 instruments and market risks |
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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:
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 and co-promotion expenses, and royalties. To reduce the exposure of those transactions to exchange rate movements, Sanofi contracts hedges using liquid derivative instruments, mainly forward currency purchases and sales, and also currency swaps.
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:
The above positions mainly hedge future material foreign-currency cash flows arising after the end of the reporting period in relation to transactions carried out during the year ended December 31, 2017 and recognized in the balance sheet at that date. Gains and losses on hedging instruments (forward contracts) are calculated and recognized in parallel with the recognition of gains and losses on the hedged items. Due to this hedging relationship, the commercial foreign exchange profit or loss on these items (hedging instruments and hedged transactions) will be immaterial in 2018.
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:
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:
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:
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 investment or divestment cash flows.
Sanofi manages its net debt in two currencies: the euro and the US dollar (see Note D.17.). The floating-rate portion of this debt exposes Sanofi to rises in interest rates, primarily in the Eonia and Euribor benchmark rates (for the euro) and in the US Libor and Federal Fund Effective rates (for the US dollar). To optimize the cost of debt or reduce the volatility of debt, Sanofi uses interest rate swaps, cross currency swaps and interest rate options to alter the fixed/floating rate split of debt. Such derivative instruments are predominantly denominated in euros and US dollars.
The table below shows instruments of this type in place as of December 31, 2017:
The table below shows instruments of this type in place as of December 31, 2016:
The table below shows instruments of this type in place as of December 31, 2015:
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.:
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Off-balance sheet commitments | D.21. Off-balance sheet commitments 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:
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 operating leases as of December 31, 2017 were €1,452 million (versus €1,507 million as of December 31, 2016 and €1,567 million as of December 31, 2015). Total rental expense recognized in the year ended December 31, 2017 was €291 million (versus €309 million in the year ended December 31, 2016 and €340 million in the year ended December 31, 2015). 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. These arrangements generally involve upfront payments on signature of the agreement, development milestone payments, and royalties. Some of these complex agreements include undertakings to fund research programs in future years and payments contingent upon achieving specified development milestones, the granting of approvals or licenses, or the attainment of sales targets once a product is commercialized. 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 (€7.2 billion in 2017, €6.2 billion in 2016, €4.7 billion in 2015), and payments contingent upon the attainment of sales targets once a product is commercialized (€10.1 billion in 2017, €8.2 billion in 2016, €8.0 billion in 2015). Major agreements entered into during 2017 were as follows:
Other major agreements entered into by Sanofi in prior years are described below:
Sanofi and its alliance partners have decided to terminate the following agreements (the related commitments are no longer disclosed as of December 31, 2017):
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, whereby the partner acquires an interest in the jointly-developed product by providing funding towards the development program. Consequently, the amounts received by Sanofi will be recorded as a reduction in development costs, to the extent that the development costs incurred by Sanofi are recognized in profit or loss in accordance with the policies described in Note B.4.1. The commitments under these two agreements were altered by the following events that occurred in 2017:
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 €0.3 billion to finance construction of the facility will be made 50/50 by the two partners. In addition, Sanofi could pay Lonza in the region of €0.8 billion over the next fifteen years partly as its share of operating expenses and the cost of producing future batches, and partly to reserve capacity in the new facility. 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:
As of December 31, 2017, total credit facilities amounted to €8,010 million (versus €8,000 million as of December 31, 2016 and 2015, excluding the Animal Health business). Guarantees The table below shows the amount of guarantees given and received:
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 |
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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 basis or by class would seriously prejudice the Company’s position in the ongoing legal proceedings or in any related settlement discussions. Accordingly, in those cases, we have disclosed information with respect to the nature of the contingency but have not disclosed our estimate of the range of potential loss, in accordance with paragraph 92 of IAS 37. 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:
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) dismissed two appeals filed by the plaintiffs against two decisions of the Appeal Court of Paris (Cour d’appel). Plavix® Product Litigation in the US 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®. The actions are held in several jurisdictions, including the federal and/or state courts of New Jersey, New York, California, and Delaware. It is not possible, at this stage, to assess reliably the outcome of these lawsuits or the potential financial impact on the Company. Taxotere® Product Litigation in the US 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®. The actions are held in several jurisdictions, including the federal and/or state courts of Louisiana, New Jersey, California, Delaware and Illinois. It is not possible, at this stage, to assess reliably the outcome of these lawsuits or the potential financial impact on the Company. Depakine® Product Litigation in France 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®, a sodium valproate antiepileptic treatment, by the mothers during pregnancy. These actions are held in several jurisdictions in France. An investigation is ongoing in relation to a criminal complaint against person unknown filed in May 2015. 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 €2 million to the plaintiff and €1 million to the CPAM (Caisse Primaire d’Assurance Maladie). The French affiliate has filed a motion to the French Supreme Court; (ii) the Paris Court denied an individual plaintiff’s motion for interim measures and plaintiff has lodged an appeal, and (iii) in the class action lawsuit filed by the APESAC (Association des Parents d’Enfants souffrant du Syndrome de l’Anti-Convulsivant), the judge also rejected claimant’s motion on interim measures. APESAC has lodged an appeal. 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® (ramipril) in Canada. Notwithstanding proceedings initiated by Sanofi, eight manufacturers obtained marketing authorizations from the Canadian Minister of Health for generic versions of ramipril in Canada. Following the marketing of these products, Sanofi filed patent infringement actions against all those companies. In a patent infringement action, the Federal Court of Canada ruled on June 29, 2009 that the patent asserted by Sanofi was invalid. Sanofi’s leave to appeal the judgment was denied in 2012. Each of Teva, Apotex and Riva initiated Section 8 damages claims against Sanofi, seeking compensation for their alleged inability to market a generic ramipril during the time taken to resolve the proceedings against the Canadian Ministry of Health. Sanofi and Teva reached an agreement in June 2012 on a confidential amount to satisfy Teva’s claim and in November 2012, Apotex was awarded CAD221 million. 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® (alirocumab)-related Amgen Patent Litigation in the US 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 defenses. In January 2016, Sanofi and Regeneron informed the District Court that they stipulated to infringement. In March 2016, the District Court granted Judgment as a Matter of Law (JMOL) of obviousness in favor of Amgen and JMOL on an aspect of willful infringement in favor of Sanofi and Regeneron, and those issues are presently not in the case. In addition, in March 2016, a jury verdict upheld the validity of Amgen’s asserted claims of two patents for antibodies targeting PCSK9. Further, in March 2016, Sanofi, Regeneron and Amgen resolved part of the proceedings related to certain past damages that is contingent on the outcome of our appeal. In January 2017, the District Court denied Sanofi’s and Regeneron’s motion for a new trial and their motion for JMOL and granted an injunction preventing the marketing, selling or manufacturing of Praluent® in the US during the term of the two Amgen patents starting from February 21, 2017. In February 2017, the US Court of Appeals for the Federal Circuit (“Federal Circuit”) stayed (suspended) the permanent injunction for Praluent® injection during Sanofi’s and Regeneron’s appeal of the validity judgment and injunction ruling in the Federal Circuit. In October 2017, the Federal Circuit granted a new trial on certain issues, vacated (lifted) the lower court’s judgment and found that the trial court improperly granted a permanent injunction. Amgen filed a petition for rehearing by the full Federal Circuit in December 2017. Praluent® (alirocumab)-related Amgen Patent Litigation in Europe 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 of Paris against two Sanofi entities and Regeneron alleging that alirocumab infringes its ‘124 (FR) patent, seeking injunctive relief and unspecified damages. In April 2017, in France, Sanofi and Regeneron filed a response to the complaint and a separate nullity action, which is now consolidated into the infringement action. A hearing date has been set for June 2018. Praluent® (alirocumab)-related EPO Patent Oppositions 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® (alirocumab)-related Amgen Opposition and Patent Litigation in Japan 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® (dupilumab)-related Amgen Patent Opposition and Revocation in Europe 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 induced biological activity and which compete with one of four reference antibodies for binding to a cell that expresses human IL-4R. In April 2016, Sanofi and Regeneron each filed an opposition in the European Patent Office (EPO) against EP2292665, seeking its revocation on the basis that, inter alia, the claims are overly broad. In September 2016, Sanofi also filed a civil action in the UK High Court (Chancery Division/Patents Court) seeking revocation of the UK designation of EP2292665 on similar grounds. In January 2017, at the joint request of Sanofi and Immunex, the UK High Court ordered that the revocation action be stayed pending the final determination of the pending EPO opposition proceedings. 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® (dupilumab)-related Amgen Inter Partes Review Petition and Patent Litigation in the US In March and July 2017, Sanofi and Regeneron filed collectively three petitions for Inter Partes Review (IPR) for US patent 8,679,487 with the United States Patent and Trademark Office (USPTO). In these petitions, Sanofi and Regeneron collectively attack the validity of all the claims of this patent. The USPTO declined to institute an IPR on the first petition. 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®. In response, among other challenges, Sanofi and Regeneron asserted non-infringement, invalidity, and enforceability challenges. Plavix® Litigation (Commonwealth) in Australia 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®) was valid and the patent infringed. On appeal, the Full Federal Court of Australia held in September 2009 that all claims in the patent are invalid. Sanofi’s appeal to the Australia High Court was denied in March 2010. The security bond posted by Sanofi in connection with the preliminary injunction obtained in 2007 was subsequently increased from AUD40 million to AUD204 million (€26 million to €133 million as of December 31, 2017). Apotex sought damages in the range of AUD20 million to AUD236 million (€13 million to €154 million as of December 31, 2017), plus interest for having been subject to an injunction. 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 (€293 million as of December 31, 2017), plus interest. 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 issues, the indemnification obligation of Sanofi covers all taxable periods that end on or before the closing date and expires thirty days after the expiration of the applicable statute of limitations. In addition, the indemnification obligations relating to certain specified liabilities, including HIV liability, survive indefinitely. 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 €836 million, except for certain legal representations and warranties and specific environmental liabilities); taxes; certain legal proceedings; claims related to StarLink® corn; and certain pre-closing liabilities, in particular, product liability cases (which are subject to a cap of €418 million within the above global cap of €836 million). There are various periods of limitation depending upon the nature or subject of the indemnification claim. Further, Bayer and BCS are subject to a number of obligations regarding mitigation and cooperation. 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 €787.5 million. Bayer is seeking indemnification for damages allegedly suffered in several hundred individual complaints and lawsuits by rice growers, millers and distributors arising in US state and federal courts against a number of CropScience companies, formerly part of ACS before its divestiture, following the detection in 2006 of trace amounts of genetically-modified rice (the Liberty Link® Rice 601 and 604) in samples of commercial long grain rice. Bayer alleges that it has incurred losses in excess of $1.2 billion in judgments, settlements and litigation costs. The claimed amount corresponds to the residual portion of the indemnification available under the SPA. 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 €223 million, with a lower cap for certain environmental claims. Indemnification obligations for antitrust and tax claims are not capped. 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:
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) against Aventis, to which Sanofi is successor in interest, together with other defendants including former directors and statutory auditors of Rhodia from the time of the alleged events. The claimants seek a judgment holding the defendants collectively liable for alleged management errors and for alleged publication of misstatements between 1999 and 2002, and inter alia regarding Rhodia’s acquisition of the companies Albright & Wilson and ChiRex. These shareholders seek a finding of joint and several liability for damages to be awarded to Rhodia in an amount of €925 million for alleged harm to it (a derivative action), as well as personal claims of €4.3 million and €125.4 million for their own alleged individual losses. Sanofi contests both the substance and the admissibility of these claims. 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). Following this decision, the plaintiffs may also petition the Commercial Court of Paris and seek the reopening of the commercial cases mentioned above on the basis that the criminal proceedings have now concluded. 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 €20.5 million), (iii) for costs from certain locally concentrated pollutions in the sites taken over by Clariant but not caused by specialty chemicals activities in the past, and (iv) for 75% of the costs relating to a specific waste deposit site in Frankfurt, Germany. 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 €57 million to fund reserves. In 1997, Hoechst also agreed it would reimburse current and future Infraserv Höchst environmental expenses up to €143 million. As a former owner of the land and as a former user of the landfills, Hoechst may ultimately be liable for costs of remedial action in excess of this amount. |
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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:
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Personnel costs | D.24. Personnel costs Total personnel costs include the following items:
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:
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Other operating income | D.25. Other operating income Other operating income totaled €237 million in 2017, versus €355 million in 2016 and €254 million in 2015. This line item includes income arising under alliance agreements in the Pharmaceuticals segment (€7 million in 2017, versus €191 million in 2016 and €59 million in 2015). In particular, it includes amounts arising under the agreement with Regeneron, which represented a loss of €12 million in 2017 versus a gain of €141 million in 2016. This reflects Regeneron’s share of profits/losses from the commercialization of antibodies, amounting to €385 million in 2017 (€419 million in 2016), net of the commercialization-related expenses incurred by Regeneron of €397 million in 2017 (€278 million in 2016). Other operating income also includes net operating foreign exchange gains and losses (see Note B.16.1.), which represented net losses of €80 million in 2017, €146 million in 2016 and €98 million in 2015; gains from disposals relating to ongoing operations (€90 million in 2017, €40 million in 2016 and €146 million in 2015); and (in 2017) payments received on an out-of-court settlement of litigation and (in 2016) €192 million received under arbitration settlements of contractual disputes. |
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Other operating expenses | D.26. Other operating expenses Other operating expenses totaled €233 million in 2017, compared with €482 million in 2016 and €462 million in 2015. The 2017 figures includes an impairment loss of €87 million taken against property, plant and equipment associated with the dengue vaccine project. In 2016, Sanofi recorded a foreign exchange loss of €102 million on the operations of its Venezuelan subsidiaries (see Note A.4.). This line item also includes shares of profits due to alliance partners (other than BMS and the alliance partner under the Actonel® agreement) under product marketing agreements (€36 million in 2017, versus €96 million in 2016 and €52 million in 2015). |
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Restructuring costs and similar items | D.27. Restructuring costs and similar items Restructuring costs and similar items amounted to €731 million in 2017, €879 million in 2016 and €795 million in 2015, and comprise the following items:
In 2017, restructuring costs mainly comprised employee-related expenses arising from headcount adjustment plans in the United States and Europe, and asset write-downs. Costs relating to Sanofi transformation programs included within the “Other restructuring costs” line, as defined in Note B.19., amounted to €110 million in 2017 and€45 million in 2016. No costs of a comparable nature were recognized in 2015. 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. |
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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 showed a net expense of €215 million, including an additional charge to provisions for vendor’s liability guarantees on past divestments and a negative price adjustment of €31 million on the 2016 divestment of Sanofi’s interest in the Sanofi Pasteur joint venture. On December 30, 2016 Sanofi divested its interest in the Sanofi Pasteur MSD joint venture to MSD, generating a pre-tax gain of €211 million (see Note D.1.2. to the consolidated financial statements for the year ended December 31, 2016). There were no other material transactions of this nature in 2015, and no costs incurred as a result of major litigation. |
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Financial expenses and income | D.29. Financial expenses and income An analysis of financial expenses and income is set forth below:
In 2017, 2016 and 2015, the impact of the ineffective portion of hedging relationships was not material. |
Income tax expense |
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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:
The difference between the effective tax rate and the standard corporate income tax rate applicable in France is explained as follows:
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 investments accounted for using the equity method |
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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 €101 million in 2017 (compared with a net profit of €126 million in 2016 and a net loss of €54 million in 2015). That amount includes the impact of amortization charged on the fair value remeasurement of Sanofi’s share of the acquired intangible assets and inventories of Regeneron. This line item also includes the share of co-promotion profits attributable to Sanofi for territories covered by entities majority owned by BMS (see Note C.2.). The impact of the BMS alliance in 2017 was €20 million, before deducting the tax effect of €7 million (compared with €25 million in 2016 with a tax effect of €9 million, and €57 million in 2015 with a tax effect of €21 million). 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-controlling interests |
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Net income attributable to non-controlling interests | D.32. Net income attributable to non-controlling interests This line item includes the share of co-promotion profits attributable to BMS for territories covered by entities majority owned by Sanofi (see Note C.2.). The amounts involved were €84 million in 2017, €86 million in 2016 and €94 million in 2015. There is no tax effect on these amounts because BMS receives its share before tax. This line item also includes the share of net income attributable to other non-controlling interests: €37 million in 2017, €5 million in 2016 and €7 million in 2015. |
Related party transactions |
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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 pension plans: see “Item 6.B. – Compensation”) and the members of the Executive Committee (an average of 13 members in 2017 and 2016, and 11 members in 2015).
The table below shows, by type, the compensation paid to key management personnel:
The aggregate top-up pension obligation in favor of certain corporate officers and of members of the Executive Committee was €68 million as of December 31, 2017, versus €72 million as of December 31, 2016 and €128 million as of December 31, 2015. The reduction in the obligation to corporate officers as of December 31, 2016 was mainly due to directors ceasing to hold office, rather than to a general reduction in the obligation. The aggregate amount of termination benefits and lump-sum retirement benefits payable to key management personnel was €9 million as of December 31, 2017, compared with €8 million as of December 31, 2016 and €6 million as of December 31, 2015. |
Information About Major Customers and Credit Risk |
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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 |
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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 transactions are not material. 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, adjusted as follows:
The table below sets forth our segment results for the year ended December 31, 2017, based on our new segment reporting model:
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 in the table below:
The table below sets forth our segment results for the year ended December 31, 2016, based on our previous segment reporting model:
The table below sets forth our segment results for the year ended December 31, 2015, based on our previous segment reporting model:
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.
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.
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 assets reported below exclude financial instruments, deferred tax assets, and pre-funded pension obligations.
As stated in Note D.5., goodwill is not allocated by geographical region. |
Exchanged/held-for-exchange Animal Health business |
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Exchanged/held-for-exchange Animal Health business | D.36. Exchanged/held-for-exchange Animal Health business 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 and Liabilities related to assets held for sale or exchange, respectively, in the consolidated balance sheets (see Note D.8.). An analysis of those line items is provided below:
As of December 31, 2016, short-term debt owed by Animal Health entities to other consolidated entities amounted to €954 million; the amount of accounts receivable and accounts payable was immaterial. In accordance with the accounting policies described in Note B.7., intercompany asset and liability accounts between Animal Health entities and other consolidated entities were eliminated. As a consequence the balances related to these assets and liabilities were not included in the table above.
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 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 Animal Health business, in accordance with IAS 33 (Earnings Per Share):
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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.
Audit Committee pre-approval and procedures The Audit Committee of Sanofi has adopted a policy and established certain procedures for the approval of audit services and for the pre-approval of other services to be provided by the independent auditors. In 2017, the Audit Committee established a budget showing permitted audit-related and other services (i.e. services other than statutory audit) that can be provided by the independent auditors, and the related fees.
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F/ List of principal companies included in the consolidation during 2017 |
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F/ List of principal companies included in the consolidation during 2017 |
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:
F.2. Principal investments accounted for using the equity method
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Events subsequent to December 31, 2017 |
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Events subsequent to December 31, 2017 | G/ Events subsequent to December 31, 2017 On January 7, 2018, Sanofi and Alnylam announced a strategic restructuring of their RNAi therapeutics alliance to streamline and optimize development and commercialization of certain products for the treatment of rare genetic diseases. Specifically:
In January 2018, Sanofi and Regeneron announced (i) amendments to their collaboration agreement on the development and commercialization of human therapeutic antibodies; (ii) amendments to their IO License and Collaboration Agreement on the development of cemiplimab (REGN 2810) in the field of immuno-oncology; and (iii) a limited waiver and amendment of the Amended Investor Agreement pursuant to a letter agreement (the “2018 Letter Agreement”). 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® and IL33 (REGN 3500/SAR 440340). The $650 million development budget for the PD-1 inhibitor antibody will be increased to $1.64 billion through 2022, funded equally by the two companies (i.e. from $325 million to $820 million for each partner). The additional programs on Dupixent® and IL33 (REGN 3500/SAR 440340) will focus on extending the current range of indications and finding new indications, and improving co-morbidity between multiple pathologies. 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 and Bioverativ Inc., a biotechnology company focused on therapies for hemophilia and other rare blood disorders, entered into a definitive agreement under which Sanofi will acquire all of the outstanding shares of Bioverativ for $105 per share in cash, representing an equity value of approximately $11.6 billion (on a fully diluted basis). The transaction was unanimously approved by both the Sanofi and Bioverativ Boards of Directors. On February 7, 2018 Sanofi commenced the tender offer (the “Offer”) to acquire all of the outstanding shares of common stock of Bioverativ, Inc. (“Bioverativ”) for $105 per share in cash (the “Offer Price”), without interest thereon and net of any required tax withholding. The acquisition of Bioverativ is expected to drive significant value for Sanofi’s shareholders, with cash flows from growing sales of Bioverativ’s products expected to increase Sanofi’s financial and operational scale. The acquisition is expected to be immediately accretive to Sanofi’s business earnings per share(1) in 2018, and up to 5% accretive in 2019. Sanofi is also projected to achieve return on invested capital in excess of its cost of capital within three years, and expects to preserve its strong credit rating. On January 29, 2018, Sanofi and Ablynx, a biopharmaceutical company engaged in the discovery and development of Nanobodies®, entered into a definitive agreement under which Sanofi will offer to acquire all of the outstanding ordinary shares, including shares represented by American Depositary Shares (ADSs), warrants and convertible bonds of Ablynx, at a price per Ablynx share of €45 in cash, valuing Ablynx at approximately €3.9 billion (on a fully diluted basis). The transaction was unanimously approved by both the Sanofi and Ablynx Boards of Directors.
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Summary of Significant Accounting Policies (Policies) |
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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. The equity method is not applied to equity interests that are classified as held-for-sale assets. 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. |
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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 assets (other than receivables) and inventories acquired in foreign currencies are translated into the functional currency using the exchange rate prevailing at the acquisition date. 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 (€). In accordance with IAS 21 (The Effects of Changes in Foreign Exchange Rates), each subsidiary accounts for its transactions in the currency that is most representative of its economic environment (the functional currency). 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. |
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Business combinations and transactions with non-controlling interests | B.3. Business combinations and transactions with non-controlling interests B.3.1. Accounting for business combinations, transactions with non-controlling interests and loss of control 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 assets classified as held for sale (which are measured at fair value less costs to sell) and (ii) assets and liabilities that fall within the scope of IAS 12 (Income Taxes) and IAS 19 (Employee Benefits). Restructuring liabilities are recognized as a liability of the acquiree only if the acquiree has an obligation as of the acquisition date to carry out the restructuring. The principal accounting rules applicable to business combinations and transactions with non-controlling interests include:
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 interests, with subsequent remeasurements recognized in profit or loss. This treatment is consistent with the accounting applied to contingent consideration in the books of the acquirer. 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 impact on the substance of the original investment. |
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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 except for amortization charged against (i) acquired or internally-developed software and (ii) other rights of an industrial or operational nature, which is recognized in the relevant classification of expense by function. 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 synthesis process) are incurred after marketing approval has been obtained, in order to improve the industrial process for an active ingredient. To the extent that the six IAS 38 criteria are considered as having been met, such expenses are recognized as an asset in the balance sheet within Other intangible assets as incurred. Similarly, some clinical trials, for example those undertaken to obtain a geographical extension for a molecule that has already obtained marketing approval in a major market, may in certain circumstances meet the six capitalization criteria under IAS 38, in which case the related expenses are recognized as an asset in the balance sheet within Other intangible assets. Separately acquired research and development Payments for separately acquired research and development are capitalized within Other intangible assets provided that they meet the definition of an intangible asset: a resource that is (i) controlled by Sanofi, (ii) expected to provide future economic benefits for Sanofi, and (iii) identifiable (i.e. it is either separable or arises from contractual or legal rights). Under paragraph 25 of IAS 38, the first condition for capitalization (the probability that the expected future economic benefits from the asset will flow to the entity) is considered to be satisfied for separately acquired research and development. Consequently, upfront and milestone payments to third parties related to pharmaceutical products for which marketing approval has not yet been obtained are recognized as intangible assets, and amortized on a straight line basis over their useful lives beginning when marketing approval is obtained. 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 research and development and currently marketed products and are reliably measurable are identified separately from goodwill, measured at fair value and capitalized within Other intangible assets in accordance with IFRS 3 (Business Combinations) and IAS 38 (Intangible Assets). The related deferred tax liability is also recognized if a deductible or taxable temporary difference exists. In-process research and development acquired in a business combination is amortized on a straight line basis over its useful life from the date of receipt of marketing approval. 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. |
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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 approach to accounting for property, plant and equipment is applied. Under this approach, each component of an item of property, plant and equipment with a cost which is significant in relation to the total cost of the item and which has a different useful life from the other components must be depreciated separately. 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:
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. |
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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 research and development), and CGUs that include goodwill, are tested for impairment annually whether or not there is any indication of impairment, and more frequently if any event or circumstance indicates that they might be impaired. Such assets are not amortized. 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 in the income statement. 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, while reversals of impairment losses in respect of investments accounted for using the equity method are recognized within the income statement line item Share of profit/(loss) from investments accounted for using the equity method. Impairment losses taken against goodwill are never reversed, unless the goodwill is part of the carrying amount of an investment accounted for using the equity method. |
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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 Assets Held for Sale and Discontinued Operations), non-current assets and groups of assets are classified as held for sale in the balance sheet if their carrying amount will be recovered principally through a sale transaction rather than through continuing use. Within the meaning of IFRS 5, the term “sale” also includes exchanges for other assets. Non-current assets or asset groups held for sale must be available for immediate sale in their present condition, subject only to terms that are usual and customary for sales of such assets, and a sale must be highly probable. Criteria used to determine whether a sale is highly probable include:
Before initial reclassification of the non-current asset (or asset group) to Assets held for sale or exchange, the carrying amounts of the asset (or of all the assets and liabilities in the asset group) must be measured in accordance with the applicable standards. Subsequent to reclassification to Assets held for sale or exchange, the non-current asset (or asset group) is measured at the lower of carrying amount or fair value less costs to sell, with any write-down recognized by means of an impairment loss. Once a non-current asset has been reclassified as held for sale or exchange, it is no longer depreciated or amortized. 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 or liabilities within the balance sheet line items Assets held for sale or exchange or Liabilities related to assets held for sale or exchange, provided that the disposal satisfies the IFRS 5 classification criteria. The profit or loss generated by a held-for-sale asset group is reported in a separate line item in the income statement for the current period and for the comparative periods presented, provided that the asset group:
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 provided that there is sufficient evidence that Sanofi remains committed to the planned sale or exchange. Finally, in the event of changes to a plan of sale that require an asset no longer to be classified as held for sale, IFRS 5 specifies the following treatment:
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Financial instruments | B.8. Financial instruments B.8.1. Non-derivative financial assets 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 financial assets, based on the type of asset and on management intention at the date of initial recognition. The designation and classification of such financial assets are subsequently reassessed at the end of each reporting period. Non-derivative financial assets are recognized on the date when Sanofi becomes party to the contractual terms of the asset. On initial recognition, financial assets are measured at fair value, plus direct transaction costs in the case of financial assets not classified as fair value through profit or loss. Classification, presentation and subsequent measurement of non-derivative financial assets are as follows: Financial assets at fair value through profit or loss These assets are classified in the balance sheet within the line items Other non-current assets, Other current assets and 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 or 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 or Financial expenses. Available-for-sale financial assets Available-for-sale financial assets are non-derivative financial assets that are (i) designated by management as available-for-sale or (ii) not classified as “Financial assets at fair value through profit or loss”, “Held-to-maturity investments” or “Loans and receivables”. This category includes equity interests in quoted or unquoted companies other than investments accounted for using the equity method (associates and joint ventures). Available-for-sale financial assets are classified in Other non-current assets. Available-for-sale financial assets are measured at fair value, without any deduction for transaction costs that may be incurred on sale. Gains and losses arising from changes in the fair value of these assets, including unrealized foreign exchange gains and losses, are recognized directly in equity in the consolidated statement of comprehensive income in the period in which they occur, except for impairment losses and foreign exchange gains and losses on debt instruments. On derecognition of an available-for-sale financial asset, or on recognition of an impairment loss on such an asset, the cumulative gains and losses previously recognized in equity are recognized in the income statement for the period within Financial income or Financial expenses. Interest income and dividends on equity instruments are recognized in the income statement within Financial income when Sanofi is entitled to receive payment. Available-for-sale financial assets in the form of equity interests in companies not quoted in an active market are measured at cost if their fair value cannot be measured reliably; an impairment loss is recognized when there is objective evidence that such an asset is impaired. Contingent consideration receivable in connection with divestments is recognized as an available-for-sale financial asset at fair value (plus any transaction costs), provided that it represents an unconditional right to receive cash as of the date of the divestment. Fair value is initially measured on the basis of estimated future cash flows. 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 investments Held-to-maturity investments are non-derivative financial assets with fixed or determinable payments and fixed maturities that Sanofi has the positive intention and ability to hold to maturity. Such investments are measured at amortized cost using the effective interest method. Loans and receivables Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. They are presented within the line items Other current assets, Accounts receivable and Cash and cash equivalents. Loans with a maturity of more than 12 months are presented in “Long-term loans and advances” within Other non-current assets. Those financial assets are measured at amortized cost using the effective interest method. B.8.2. Impairment of non-derivative financial assets Indicators of impairment are reviewed for all non-derivative financial assets at the end of each reporting period. Such indicators include default in contractual payments, significant financial difficulties of the issuer or debtor, probability of bankruptcy, or a prolonged or significant decline in quoted market price. An impairment loss is recognized in the income statement if there is objective evidence of impairment resulting from one or more events after the initial recognition of the asset (a “loss event”) and that loss event has a reliably measurable impact on the estimated future cash flows of the financial asset (or group of financial assets). 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 financial asset, the cumulative losses previously recognized directly in equity are recorded in the income statement. The loss recognized in the income statement is the difference between the acquisition cost (net of principal repayments and amortization) and the fair value at the time of impairment, less any impairment loss previously recognized in the income statement. 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 in the income statement. Impairment losses in respect of trade receivables are recognized within Selling and general expenses in the income statement. Impairment losses on equity instruments classified as available-for-sale financial assets cannot be reversed through the income statement. 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 or in Financial income or Financial expenses, depending on the nature of the underlying economic item which is hedged. 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 for hedges related to operating activities, or within Financial income or Financial expenses for hedges related to investing or financing activities. 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 for hedges of operating activities, and within Financial income or Financial expenses for hedges of investing or financing activities. 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 for hedges related to operating activities, or within Financial income or Financial expenses for hedges related to investing or financing activities. When a forecast transaction results in the recognition of a non-financial asset or liability, cumulative changes in the fair value of the hedging instrument previously recognized in equity are included in the initial measurement of that asset or liability. 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 or Financial expenses. When the investment in the foreign operation is sold, the changes in the fair value of the hedging instrument previously recognized in equity are reclassified to the income statement within Financial income or 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 financial liabilities 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 in the income statement over the term of the debt using the effective interest method. Liabilities related to business combinations and to non-controlling interests 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 interests. Adjustments to the fair value of commitments to buy out equity holders of subsidiaries, including put options granted to non-controlling interests, are recognized in equity. Other non-derivative financial liabilities Other non-derivative financial liabilities include trade accounts payable, which are measured at fair value (which in most cases equates to face value) on initial recognition, and subsequently at amortized cost. 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.
The other financial assets and liabilities included in the consolidated balance sheet are:
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 financial assets, cash equivalents, derivative instruments and debt are described in the discussions of risk factors presented in Item 3.D. and Item 11. 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 by our customers”. |
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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 method, depending on the nature of the inventory. 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. |
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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. |
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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. |
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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 provisions and other non-current liabilities. 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 provisions for certain obligations, such as legal or constructive environmental obligations and litigation, where an outflow of resources is probable and the amount of the outflow can be reliably estimated. Where the effect of the time value of money is material, those provisions are measured at the present value of the expenditures expected to be required to settle the obligation, calculated using a discount rate that reflects an estimate of the time value of money and the risks specific to the obligation. Increases in provisions to reflect the effects of the passage of time are recognized within Financial expenses. |
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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. Net sales comprise revenue from sales of pharmaceutical products, active ingredients and vaccines, net of sales returns, of customer incentives and discounts, and of certain sales-based payments paid or payable to the healthcare authorities. 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:
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 medicines. 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:
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 because they are not derived from the sale of products manufactured by Sanofi. |
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Cost of sales | B.14. Cost of sales Cost of sales consists primarily of the industrial cost of goods sold, payments made under licensing agreements, and distribution costs. The industrial cost of goods sold includes the cost of materials, depreciation of property, plant and equipment, amortization of software, personnel costs, and other expenses attributable to production. |
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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. |
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Other operating income and expenses | B.16. Other operating income and expenses B.16.1. Other operating income Other operating income includes the share of profits that Sanofi is entitled to receive from alliance partners in respect of product marketing agreements. It also includes revenues generated under certain complex agreements, which may include partnership and co-promotion arrangements. 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 mainly comprise the share of profits that alliance partners are entitled to receive from Sanofi under product marketing agreements. |
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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. |
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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 financial asset. 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. |
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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. |
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Other gains and losses, and litigation | B.20. Other gains and losses, and litigation The line item Other gains and losses, and litigation includes the impact of material transactions of an unusual nature or amount which Sanofi believes it necessary to report separately in the income statement in order to improve the relevance of the financial statements, such as:
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Financial expenses and income | B.21. Financial expenses and income B.21.1. Financial expenses Financial expenses mainly comprise interest charges on debt financing; negative changes in the fair value of financial instruments (where changes in fair value are recognized in profit or loss); realized and unrealized foreign exchange losses on financing and investing activities; impairment losses on financial instruments; and any reversals of impairment losses on financial instruments. Financial expenses also include expenses arising from the unwinding of discount on long-term liabilities, and the net interest cost related to employee benefits. This line item does not include commercial cash discounts, which are deducted from net sales. B.21.2. Financial income Financial income includes interest and dividend income; positive changes in the fair value of financial instruments (where changes in fair value are recognized in profit or loss); realized and unrealized foreign exchange gains on financing and investing activities; and gains or losses on disposals of financial assets. |
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Income tax expense | B.22. Income tax expense Income tax expense includes all current and deferred taxes of consolidated companies. Sanofi accounts for deferred taxes in accordance with IAS 12 (Income Taxes), using the methods described below:
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 includes the effects of tax reassessments and tax disputes, and any penalties and late payment interest arising from such disputes that have the characteristics of income taxes within the meaning of paragraph 2 of IAS 12 (“taxes which are based on taxable profits”). |
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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, net of deferred taxes; they are not subsequently reclassifiable to profit or loss. |
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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 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. In accordance with IFRS 2 (Share-Based Payment), services received from employees as consideration for stock options are recognized as an expense in the income statement, with the opposite entry recognized in equity. The expense corresponds to the fair value of the stock option plans, and is charged to income on a straight-line basis over the four-year vesting period of the plan. The fair value of stock option plans is measured at the date of grant using the Black-Scholes valuation model, taking into account the expected life of the options. The resulting expense also takes into account the expected cancellation rate of the options. The expense is adjusted over the vesting period to reflect actual cancellation rates resulting from option-holders ceasing to be employed by Sanofi. 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 or three-year vesting period are subject to a two-year lock-up period. 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. |
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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. |
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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 transactions are not material. 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. |
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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:
Sanofi is not subject to any constraints on equity capital imposed by third parties. Total equity includes Equity attributable to equity holders of Sanofi and Equity attributable to non-controlling interests, as shown in the consolidated balance sheet. Sanofi defines “Debt, net of cash and cash equivalents” as (i) the sum of short-term debt, long-term debt and interest rate derivatives and currency derivatives used to hedge debt, minus (ii) the sum of cash and cash equivalents and interest rate derivatives and currency derivatives used to hedge cash and cash equivalents. |
Summary of Significant Accounting Policies (Tables) |
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Summary of Useful Lives of Property, Plant and Equipment | The customary useful lives of property, plant and equipment are as follows:
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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.
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Changes in the scope of consolidation due to acquisitions and divestments (Tables) |
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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 € million):
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Protein Sciences [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Summary of Final Purchase Price Allocation | The provisional purchase price allocation resulted in the recognition of goodwill amounting to €125 million, as indicated below:
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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 €21 million, as presented in the table below:
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Property, plant and equipment (Tables) |
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Schedule of Property, Plant and Equipment (Including Assets Held Under Finance Leases) | Property, plant and equipment (including assets held under finance leases) comprise:
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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:
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Schedule of Future Minimum Lease Payment Schedule | As of December 31, 2017, the payment schedule is as follows:
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Goodwill and other intangible assets (Tables) |
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Schedule of Movements in Goodwill | Movements in goodwill comprise:
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Schedule of Movements in Other Intangible Assets | Movements in other intangible assets comprise:
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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:
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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, except for amortization of software and other rights of an industrial or operational nature which is recognized in the relevant classification of expense by function. An analysis of amortization of software is shown in the table below:
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Impairment of intangible assets and property, plant and equipment (Tables) |
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Schedule of Allocation of Goodwill | The allocation of goodwill as of December 31, 2017 is shown below:
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Investments accounted for using the equity method (Tables) |
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Summary of Investments in Associates and Joint Ventures | The table below sets forth Sanofi’s investments accounted for using the equity method:
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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):
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Summary of Principal Transactions and Balances with Related Parties | The principal transactions and balances with related parties are summarized below:
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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:
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Disclosure of associates - Balance sheet lines |
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Summary of Reconciliation to Carrying Amount of Investment | The table below shows a reconciliation to the carrying amount of the investment:
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Other Non-current Assets (Tables) |
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Summary of Other Non-current Assets | Other non-current assets comprise:
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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 financial assets would have had the following impact as of December 31, 2017:
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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 financial assets combined with a simultaneous 0.5% rise in the yield curve would have had the following impact as of December 31, 2017:
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Assets and Liabilities Held for Sale or Exchange (Tables) |
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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:
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Inventories (Tables) |
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Schedule of Inventories | Inventories comprise the following:
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Accounts Receivable (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Summary of Accounts Receivable | An analysis of accounts receivable is set forth below:
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Summary of Gross Value of Overdue Receivables | The gross value of overdue receivables was €644 million as of December 31, 2017, versus €597 million as of December 31, 2016 and €677 million as of December 31, 2015.
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Other Current Assets (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Schedule of Other Current Assets | An analysis of other current assets is set forth below:
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Financial Assets and Liabilities Measured at Fair Value (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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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.
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Cash and Cash Equivalents (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Summary of Cash and Cash Equivalents |
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Net Deferred Tax Position (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Summary of Net Deferred Tax Position | An analysis of the net deferred tax position is set forth below:
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Summary of Tax Losses Available for Carry-forward | The table below shows when tax losses available for carry-forward are due to expire:
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Consolidated Shareholders' Equity (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Summary of Treasury Shares Held | As of December 31, 2017, the share capital was €2,508,039,808, consisting of 1,254,019,904 shares with a par value of €2. Treasury shares held by Sanofi are as follows:
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Summary of Movements Share Capital | Movements in the share capital of the Sanofi parent company over the last three years are set forth below:
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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:
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Summary of Currency Translation Differences | Currency translation differences comprise the following:
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Summary of Movements within Other Comprehensive Income | Movements within other comprehensive income are shown below:
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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.
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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.
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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:
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Summary of Options Outstanding and Exercisable | The table below provides summary information about options outstanding and exercisable as of December 31, 2017:
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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.
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Debt, Cash and Cash Equivalents (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Summary of Changes in Financial Position | Changes in financial position during the period were as follows:
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Summary of Reconciliation of Carrying Amount to Value on Redemption | Reconciliation of carrying amount to value on redemption
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Disclosure Of Movement In Total Debt | The table below shows the movement in total debt during the period:
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Summary of Debt by Type Valuation of Redemptio | Debt, net of cash and cash equivalents by type, at value on redemption
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Summary of Debt by Maturity at Value on Redemption | Debt by maturity, at value on redemption
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Summary of Debt by Interest Rate | The figures shown are values on redemption, before the effects of derivative instruments:
Sanofi manages its net debt in two currencies: the euro and the US dollar. The floating-rate portion of this debt exposes Sanofi to increases in interest rates, primarily in the Eonia and Euribor benchmark rates (for the euro) and in the US Libor and Federal Fund Effective rates (for the US dollar).
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:
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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:
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Summary of Interest Rate Fluctuations of Debt Net of Cash and Cash Equivalents | The projected full-year sensitivity of debt, net of cash and cash equivalents to interest rate fluctuations for 2018 is as follows:
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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:
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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:
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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:
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:
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Liabilities related to business combinations and to non-controllinginterests (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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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 interests are shown below:
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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 interests:
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Provisions and other liabilities (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Summary of Provisions and Other Non-current Liabilities | Non-current provisions and other non-current liabilities break down as follows:
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Summary of Financial and Demographic Assumptions | Those calculations were based on the following financial and demographic assumptions:
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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:
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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:
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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:
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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:
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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:
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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:
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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:
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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:
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Estimated Amounts of Employer's Contributions to Plan Assets | The estimated amounts of employer’s contributions to plan assets in 2018 are as follows:
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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:
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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:
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Movements in Restructuring Provisions Classified in Non-current and Current Liabilities | The table below shows movements in restructuring provisions classified in non-current and current liabilities:
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Timing of Future Termination Benefit Payments | The timing of future termination benefit payments is as follows:
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Summary of Other Provisions | Other provisions include provisions for risks and litigation relating to environmental, tax, commercial and product liability matters.
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Current Provisions and Other Current Liabilities | Current provisions and other current liabilities comprise the following:
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Derivative financial instruments and market risks (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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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:
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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:
The above positions mainly hedge future material foreign-currency cash flows arising after the end of the reporting period in relation to transactions carried out during the year ended December 31, 2017 and recognized in the balance sheet at that date. Gains and losses on hedging instruments (forward contracts) are calculated and recognized in parallel with the recognition of gains and losses on the hedged items. Due to this hedging relationship, the commercial foreign exchange profit or loss on these items (hedging instruments and hedged transactions) will be immaterial in 2018.
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:
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:
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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:
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Disclosure of Instruments | The table below shows instruments of this type in place as of December 31, 2017:
The table below shows instruments of this type in place as of December 31, 2016:
The table below shows instruments of this type in place as of December 31, 2015:
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Disclosure of Potential Effects of Netting Arrangements | The table below is prepared in accordance with the accounting policies described in Note B.8.3.:
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Off-balance sheet commitments (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Summary of Off Balance Sheet Commitments Relating to Operating Activities | Off balance sheet commitments relating to Sanofi’s operating activities comprise the following:
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Summary of Undrawn Credit Facilities | Undrawn credit facilities are as follows:
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Summary of Amount of Guarantees Given and Received | The table below shows the amount of guarantees given and received:
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Provisions for discounts, rebates and sales returns (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Summary of Movement in Provisions for Discounts, Rebates and Sales Returns | The table below shows movements in these items:
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Personnel costs (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Summary of Personal Costs | Total personnel costs include the following items:
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Summary of Employee Numbers by Function | Employee numbers by function as of December 31 are shown below:
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Restructuring costs and similar items (Tables) |
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Summary of Restructuring Costs and Similar Items | Restructuring costs and similar items amounted to €731 million in 2017, €879 million in 2016 and €795 million in 2015, and comprise the following items:
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Financial expenses and income (Tables) |
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Summary of Analysis of Financial Income and Expenses | An analysis of financial expenses and income is set forth below:
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Income tax expense (Tables) |
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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:
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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:
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Related party transactions (Tables) |
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Schedule of Compensation Paid to Key Management Personnel | The table below shows, by type, the compensation paid to key management personnel:
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Segment information (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Schedule of Segment Results | The table below sets forth our segment results for the year ended December 31, 2017, based on our new segment reporting model:
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 in the table below:
The table below sets forth our segment results for the year ended December 31, 2016, based on our previous segment reporting model:
The table below sets forth our segment results for the year ended December 31, 2015, based on our previous segment reporting model:
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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.
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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.
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Summary of Geographical Information on Net Sales and Non-Current Assets | In accordance with IFRS 8, the non-current assets reported below exclude financial instruments, deferred tax assets, and pre-funded pension obligations.
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Exchanged/held-for-exchange Animal Health business (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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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 and Liabilities related to assets held for sale or exchange, respectively, in the consolidated balance sheets (see Note D.8.). An analysis of those line items is provided below:
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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 Animal Health business:
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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 Animal Health business, in accordance with IAS 33 (Earnings Per Share):
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Principal accountants' fees and services (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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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.
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F/ List of principal companies included in the consolidation during 2017 (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Summary of Principal Companies and Their Country of Incorporation | The table below shows the principal companies and their country of incorporation:
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Summary of Principal Investments Accounted for Using the Equity Method | F.2. Principal investments accounted for using the equity method
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Consolidation and Foreign Currency Translation of Financial Statements of Venezuelan Subsidiaries - Additional Information (Detail) € in Millions |
12 Months Ended | ||||||||
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Dec. 31, 2017
EUR (€)
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Dec. 31, 2016
EUR (€)
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Dec. 31, 2015
EUR (€)
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Feb. 29, 2016 |
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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 | |||||||
|
Change in the Operational Structure of Sanofi - Additional Information (Detail) |
12 Months Ended |
---|---|
Dec. 31, 2017
Cash_Generating_Units
| |
Disclosure Of Effect Of Changes In Foreign Exchange Rates Gain Loss [Abstract] | |
Number of cash generating units | 3 |
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 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 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 Accounting Policies - Treasury Shares - Additional Information (Detail) |
12 Months Ended |
---|---|
Dec. 31, 2017
EUR (€)
| |
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 Accounting Policies - Provision for Risks - Additional Information (Detail) |
12 Months Ended |
---|---|
Dec. 31, 2017
EUR (€)
| |
Disclosure Of Provisions For Risk [abstract] | |
Provisions recorded for future operating losses | € 0 |
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 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 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 Accounting Policies - Segment Information - Additional Information (Detail) |
12 Months Ended |
---|---|
Dec. 31, 2017
Segments
| |
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 Regeneron Pharmaceuticals, Inc. (Regeneron) - Antibodies Collaboration Agreement - Additional Information (Detail) - Antibodies Collaboration Agreement [Member] $ in Millions, € in Billions |
1 Months Ended | 12 Months Ended | ||
---|---|---|---|---|
Jul. 28, 2015
USD ($)
|
Nov. 30, 2007
USD ($)
|
Nov. 30, 2009
USD ($)
|
Dec. 31, 2017
EUR (€)
|
|
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 Regeneron Pharmaceuticals, Inc. (Regeneron) - Immuno-Oncology Agreement - Additional Information (Detail) - Regeneron Pharmaceuticals, Inc. [Member] - Immuno-Oncology Collaboration Agreement [Member] - USD ($) $ in Thousands |
1 Months Ended | ||
---|---|---|---|
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 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 Bristol-Myers Squibb (BMS) - Additional Information (Detail) - Entities and Companies Managed by Bristol-Myers Squibb [Member] $ in Millions |
12 Months Ended |
---|---|
Dec. 31, 2017
USD ($)
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 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 | |||||||||
|
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 Consolidation Due to Acquisitions And Divestments - Additional Information (Detail) - EUR (€) € in Millions |
12 Months Ended | ||||
---|---|---|---|---|---|
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 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 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 - 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 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 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 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 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 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 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 Intangible Assets - Detailed Information for Principal Marketed Products (Detail) € in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2017
EUR (€)
yr
|
Dec. 31, 2016
EUR (€)
|
Dec. 31, 2015
EUR (€)
|
|
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 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 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 | ||||||
|
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 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 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 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 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 and Joint Ventures - Additional Information (Detail) € in Millions |
12 Months Ended | |||||
---|---|---|---|---|---|---|
Dec. 31, 2017
EUR (€)
|
Dec. 31, 2017
$ / shares
|
Dec. 31, 2016
EUR (€)
|
Dec. 31, 2016
$ / shares
|
Dec. 31, 2015
EUR (€)
|
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 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 | ||||||
|
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 - 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 - Additional Information (Detail) - EUR (€) € in Millions |
12 Months Ended | |||
---|---|---|---|---|
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 - 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, 2017
EUR (€)
| |
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 - 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, 2017
EUR (€)
| |
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 - 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 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 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 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 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 - 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 - 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 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 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 Liabilities Measured at Fair Value - Additional Information (Detail) |
12 Months Ended |
---|---|
Dec. 31, 2017
EUR (€)
| |
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 - 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 | |
|
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 - 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 - 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 - 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 - 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' Equity - Additional Information (Detail) |
12 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|
May 10, 2017
€ / shares
|
Mar. 05, 2017
EUR (€)
|
Mar. 02, 2017
€ / shares
|
May 04, 2016
€ / shares
|
Mar. 03, 2016
€ / shares
|
Jun. 24, 2015
€ / shares
|
Dec. 31, 2017
EUR (€)
yr
€ / shares
shares
|
Dec. 31, 2016
EUR (€)
shares
|
Dec. 31, 2015
EUR (€)
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 04, 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' 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 | 20.0 | 4.0 | 9.5 |
Percentage of share capital for the period | 0.01% | 1.55% | 0.30% | 0.72% |
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' Equity - Principal Characteristics of Restricted Share Plans (Detail) € in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016
EUR (€)
|
Dec. 31, 2015
EUR (€)
|
Dec. 31, 2014
EUR (€)
|
|
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' 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' 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' 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' 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' 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. 02, 2009 |
Number of options granted | 7,736,480 |
Start date of exercise period | Mar. 04, 2013 |
Expiry date | Mar. 01, 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. 01, 2010 |
Number of options granted | 8,121,355 |
Start date of exercise period | Mar. 03, 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. 09, 2011 |
Number of options granted | 874,500 |
Start date of exercise period | Mar. 10, 2015 |
Expiry date | Mar. 09, 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. 05, 2012 |
Number of options granted | 814,050 |
Start date of exercise period | Mar. 06, 2016 |
Expiry date | Mar. 05, 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. 05, 2013 |
Number of options granted | 788,725 |
Start date of exercise period | Mar. 06, 2017 |
Expiry date | Mar. 05, 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. 05, 2014 |
Number of options granted | 1,009,250 |
Start date of exercise period | Mar. 06, 2018 |
Expiry date | Mar. 05, 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 04, 2016 |
Number of options granted | 402,750 |
Start date of exercise period | May 05, 2020 |
Expiry date | May 04, 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' Equity - Summary of Stock Options Outstanding at Each Balance Sheet Date (Detail) - Total stock option plans [Member] |
12 Months Ended | |||
---|---|---|---|---|
Dec. 31, 2017
EUR (€)
shares
|
Dec. 31, 2016
EUR (€)
shares
|
Dec. 31, 2015
EUR (€)
shares
|
Dec. 31, 2014
EUR (€)
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 | 67.00 | 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' Equity - Summary of Options Outstanding and Exercisable (Detail) |
Dec. 31, 2017
EUR (€)
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' 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 | 6.0 | ||||||
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 | 1,296.0 | 1,320.7 | [2] | ||||
|
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 | |||
|
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 | |||
|
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 | ||||
|
Debt, Cash and Cash Equivalents - Additional Information (Detail) € in Thousands, $ in Millions |
1 Months Ended | 12 Months Ended | ||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 30, 2017
EUR (€)
Counterparty
|
Jun. 28, 2012
EUR (€)
|
Sep. 30, 2016
EUR (€)
|
Apr. 30, 2016
EUR (€)
|
Sep. 30, 2015
EUR (€)
|
Sep. 30, 2014
EUR (€)
|
Nov. 30, 2013
EUR (€)
|
Sep. 30, 2013
EUR (€)
|
Apr. 30, 2013
EUR (€)
|
Nov. 30, 2012
EUR (€)
|
Mar. 31, 2011
USD ($)
|
Jun. 30, 2010
USD ($)
|
Oct. 31, 2009
EUR (€)
|
Dec. 31, 2017
EUR (€)
shares
|
Dec. 31, 2016
EUR (€)
|
Dec. 31, 2015
EUR (€)
|
Dec. 31, 2017
USD ($)
shares
|
Nov. 30, 2015
EUR (€)
|
|
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. 05, 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. 07, 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 2020 | |||||||||||||||||
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 2019 | |||||||||||||||||
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 2020 | |||||||||||||||||
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 2023 | |||||||||||||||||
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 2018 | |||||||||||||||||
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 2022 | |||||||||||||||||
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 2026 | |||||||||||||||||
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 2019 | |||||||||||||||||
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 2021 | |||||||||||||||||
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 2025 | |||||||||||||||||
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 2019 | |||||||||||||||||
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 2024 | |||||||||||||||||
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 2028 | |||||||||||||||||
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 2020 | |||||||||||||||||
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 2022 | |||||||||||||||||
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 2027 | |||||||||||||||||
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 2021 | |||||||||||||||||
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 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 | |||
|
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 | |||
|
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 | |||||
|
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% | ||||
|
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, 2017
EUR (€)
| |
+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 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 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 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 | |||||||||||||||
|
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, 2017
EUR (€)
|
Dec. 31, 2017
$ / shares
|
Dec. 31, 2016
EUR (€)
|
Dec. 31, 2016
$ / shares
|
Dec. 31, 2015
EUR (€)
|
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 Business Combinations and to Non-Controlling Interests - Additional Information (Detail) € in Millions |
12 Months Ended | ||||||
---|---|---|---|---|---|---|---|
Dec. 31, 2017
USD ($)
|
Dec. 31, 2017
EUR (€)
|
Dec. 31, 2016
EUR (€)
|
Dec. 31, 2015
EUR (€)
|
||||
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 | 2021 | ||||||
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 | ||||||
|
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 | |||||
|
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 | ||
|
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 Liabilities - Additional Information (Detail) € in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2017
EUR (€)
Country
Plan
|
Dec. 31, 2016
EUR (€)
|
Dec. 31, 2015
EUR (€)
|
|
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 | € 862.0 | € 1,159.0 | € 1,030.0 |
Net pre-tax actuarial loss (excluding associates and joint ventures) recognized directly in equity | 3,035.0 | 3,006.0 | 2,898.0 |
Present value of Sanofi's wholly or partially funded obligations in respect of pension and other post-employment benefit plans | 11,915.0 | 11,713.0 | 11,473.0 |
Present value of unfunded obligations in respect of pension and other post-employment benefit plans | 1,097.0 | 1,375.0 | 1,352.0 |
Other non-current liabilities | 1,050.0 | 216.0 | 275.0 |
Liability recognized representing the estimated cost | € 1,069.0 | ||
Cost write off period | 0 | ||
Other current liabilities | € 5,087.0 | 5,815.0 | 5,131.0 |
Greater than 12 Months [Member] | |||
Provisions and other non-current liabilities [Line Items] | |||
Other non-current liabilities | 708.0 | ||
Less than 1 year [Member] | |||
Provisions and other non-current liabilities [Line Items] | |||
Defined benefit obligation, at present value | 454.0 | 556.0 | 483.0 |
Other current liabilities | € 361.0 | ||
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 | € 139.0 | ||
Other provisions, expected utilized amount in 2019 through 2022 | 333.0 | ||
France [Member] | |||
Provisions and other non-current liabilities [Line Items] | |||
Defined benefit obligation, at present value | € 588.0 | € 933.0 | € 772.0 |
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 | € 0.0 | € 4.4 |
France [Member] | Evotec [Member] | |||
Provisions and other non-current liabilities [Line Items] | |||
Restructuring provisions | € 104.0 | 163.0 | |
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 | € 699.0 | € 663.0 | € 670.0 |
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-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-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 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 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, 2017
EUR (€)
| |
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 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 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 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 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 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 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 | ||||||
|
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, 2017
EUR (€)
| |
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 Liabilities - Expected Timing of Benefit Payments under Pension and Other Post-employment Benefit Plans (Detail) € in Millions |
Dec. 31, 2017
EUR (€)
|
---|---|
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 Liabilities - Timing of Future Payments in Respect of Unfunded Pension and Other Post-employment Benefit Plans (Detail) € in Millions |
12 Months Ended |
---|---|
Dec. 31, 2017
EUR (€)
| |
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 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 | ||
|
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 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 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 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 Instruments and Market Risks - Additional Information (Detail) |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2017
EUR (€)
Counterparty
|
Dec. 31, 2016
EUR (€)
|
Dec. 31, 2015
EUR (€)
|
|
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 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 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 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 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 - 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 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 Commitments - Additional Information (Detail) € in Millions, $ in Millions |
12 Months Ended | |||||||
---|---|---|---|---|---|---|---|---|
Feb. 27, 2017
USD ($)
|
Dec. 31, 2017
EUR (€)
|
Dec. 31, 2017
USD ($)
|
Dec. 31, 2016
EUR (€)
|
Dec. 31, 2015
EUR (€)
|
Jul. 20, 2017
EUR (€)
|
Nov. 05, 2015
EUR (€)
|
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 | $ | $ 40.0 | |||||||
Principia Biopharma, Inc [member] | Top of range [Member] | ||||||||
Disclosure of collaboration agreements [line Items] | ||||||||
Future milestone payments | $ | $ 765.0 |
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 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 - Additional Information (Detail) € in Millions, $ in Millions, $ in Millions, $ in Millions |
12 Months Ended | |||||||
---|---|---|---|---|---|---|---|---|
Dec. 31, 2017
USD ($)
Claim
Claims
|
Dec. 31, 2017
CAD ($)
Claim
Claims
|
Dec. 31, 2017
EUR (€)
|
Dec. 31, 2017
USD ($)
|
Dec. 31, 2017
AUD ($)
|
Nov. 30, 2017
EUR (€)
|
Dec. 31, 2016
EUR (€)
|
Dec. 31, 2015
EUR (€)
|
|
Disclosure of Legal and Arbitral Proceedings [Line Items] | ||||||||
Provisions for product liability risks, litigation and other | € 1,164.0 | € 968.0 | € 908.0 | |||||
Environment risks and remediation | € 686.0 | € 732.0 | € 708.0 | |||||
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 | € 2.0 | |||||||
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 | € 1.0 | |||||||
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 | € 26.0 | $ 40 | ||||||
Security bond posted increased to | 133.0 | 204 | ||||||
Apotex sought damages range from | 13.0 | 20 | ||||||
Apotex sought damages range to | 154.0 | 236 | ||||||
Payment of damages sought by Australian Department of Health related to the Apotex preliminary injunction, up to | € 293.0 | $ 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 | € 836.0 | |||||||
Indemnification cap related to product liability cases | 418.0 | |||||||
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 | € 223.0 | |||||||
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 | € 925.0 | |||||||
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 | 57.0 | |||||||
Agreed reimbursement to Infraserv Hoechst of current and future environmental expenses up to | € 143.0 | |||||||
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 | € 250.0 | |||||||
Environmental damages amount up to which Hoechst is liable to indemnification and from which liabilities are shared between Hoechst and CCC | € 750.0 |
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, 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 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 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 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 Employee Numbers by Function (Detail) |
Dec. 31, 2017
Employees
|
Dec. 31, 2016
Employees
|
Dec. 31, 2015
Employees
|
---|---|---|---|
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 of Employee Numbers by Function (Parenthetical) (Detail) |
Dec. 31, 2017
Employees
|
Dec. 31, 2016
Employees
|
Dec. 31, 2015
Employees
|
---|---|---|---|
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 - 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 | |||||
|
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 | |||||||
|
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 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] | |||
|
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 | ||||||
|
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] | ||||
|
Financial Income and Expenses - Summary of Analysis of Financial Income and Expenses (Parenthetical) (Detail) - EUR (€) € in Millions |
12 Months Ended | |||
---|---|---|---|---|
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 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] | ||||
|
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 - 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 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 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 | |||||
|
Related Party Transactions - Additional Information (Detail) € in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2017
EUR (€)
Executives
|
Dec. 31, 2016
EUR (€)
Executives
Director
|
Dec. 31, 2015
EUR (€)
Executives
Director
|
|
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 - 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 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 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 | ||||||
|
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 | ||||||
|
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 | |||||||||
|
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, 2016
EUR (€)
| |
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 - 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 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 | |||||
|
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 | ||||
|
Exchanged/Held-For-Exchange Animal Health Business - Additional Information (Detail) € in Millions |
Dec. 31, 2016
EUR (€)
|
---|---|
Animal Health Business [Member] | |
Disclosure of Assets Held for Sale [Line Items] | |
Short-term debt | € 954 |
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) | ||||||||
|
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, 2017
EUR (€)
| |
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 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 | 1,296.0 | 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) | ||||||||
|
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 | 6.0 | 1.4 |
Audit-related services | 4.9 | 0.6 |
Tax | 0.0 | 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 | 0.0 |
Other services | 0.2 | |
Total | € 17.2 | € 17.4 |
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 | € 7.0 |
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 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 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 Information (Detail) € / shares in Units, $ / shares in Units, shares in Millions, $ in Millions, € in Billions |
1 Months Ended | 12 Months Ended | |||
---|---|---|---|---|---|
Jan. 29, 2018
EUR (€)
€ / shares
|
Jan. 22, 2018
USD ($)
$ / shares
|
Jan. 07, 2018 |
Jan. 31, 2018
USD ($)
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. 07, 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. 07, 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 |
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