20-F/A

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 registrant’s 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 issuer’s 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 Sanofi’s 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 Sanofi’s 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

XML

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

XML

Consolidated Balance Sheets - EUR (€) € in Millions		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Assets
Property, plant and equipment		€ 9,579	€ 10,019	€ 9,943
Goodwill		40,264	40,287	39,557
Other intangible assets		13,080	10,879	12,026
Investments accounted for using the equity method		2,863	2,890	2,676
Other non-current assets		3,364	2,820	2,725
Deferred tax assets		4,290	4,669	4,714
Non-current assets		73,440	71,564	71,641
Inventories		6,816	6,892	6,516
Accounts receivable		7,216	7,311	7,386
Other current assets		2,005	2,211	1,878
Cash and cash equivalents	[1]	10,315	10,273	9,148
Current assets		26,352	26,687	24,928
Assets held for sale or exchange		34	6,421	5,752
TOTAL ASSETS		99,826	104,672	102,321
EQUITY AND LIABILITIES
Equity attributable to equity holders of Sanofi		58,089	57,554	58,049
Equity attributable to non-controlling interests		169	170	161
Total equity		58,258	57,724	58,210
Long-term debt		14,326	16,815	13,118
Non-current liabilities related to business combinations and to non-controlling interests		1,026	1,378	1,121
Non-current provisions and other non-current liabilities		9,154	8,834	9,169
Deferred tax liabilities		1,605	2,292	2,895
Non-current liabilities		26,111	29,319	26,303
Accounts payable		4,633	4,297	3,817
Current liabilities related to business combinations and to non-controlling interests		343	198	130
Current provisions and other current liabilities		9,206	10,175	9,442
Short-term debt and current portion of long-term debt		1,275	1,764	3,436
Current liabilities		15,457	16,434	16,825
Liabilities related to assets held for sale or exchange			1,195	983
TOTAL EQUITY AND LIABILITIES		€ 99,826	€ 104,672	€ 102,321

[1] For 2015 and 2016, cash flows of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations). For 2017, all of the cash flows generated from the exchange of the Animal Health business for the Consumer Healthcare business of Boehringer Ingelheim (BI) are described in note (i) below.

XML

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]

[1] The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36.

[2] Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.).

[3] For 2015 and 2016, cash flows of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations). For 2017, all of the cash flows generated from the exchange of the Animal Health business for the Consumer Healthcare business of Boehringer Ingelheim (BI) are described in note (i) below.

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Consolidated Statements of Comprehensive Income - EUR (€) € in Millions		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of comprehensive income [Abstract]
Net income	[1]	€ 8,555	€ 4,800	€ 4,388	[2]
Attributable to equity holders of Sanofi	[1]	8,434	4,709	4,287	[2]
Attributable to non-controllinginterests	[1]	121	91	101	[2]
Other comprehensive income:
Actuarial gains/(losses)		(28)	(106)	652
Tax effects		(90)	(22)	(187)
Items not subsequently reclassifiable to profit or loss		(118)	(128)	465
Available-for-salefinancial assets		838	(105)	(37)
Cash flow hedges		(24)	31	(3)
Change in currency translation differences		(3,240)	1,090	1,915
Tax effects		(137)	40	20
Sub-total: items subsequently reclassifiable to profit or loss		(2,563)	1,056	1,895
Other comprehensive income for the period, net of taxes (a+b)		(2,681)	928	2,360
Comprehensive income		5,874	5,728	6,748
Comprehensive income, attributable to equity holders of Sanofi		5,768	5,634	6,641
Comprehensive income, attributable to non-controlling interests		€ 106	€ 94	€ 107

[1] The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36.

[2] Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.).

XML

Consolidated Statements of Changes in Equity - EUR (€) € in Millions		Total		Share Capital [Member]	Additional Paid-in Capital and Retained Earnings [Member]	Treasury Shares [Member]	Stock Options and Other Share-based Payment [Member]	Other Comprehensive Income [Member]	Attributable to Equity Holders of Sanofi [Member]	Attributable to Non-controlling Interests [Member]
Balance, beginning of period at Dec. 31, 2014		€ 56,268		€ 2,639	€ 52,553	€ (694)	€ 2,599	€ (977)	€ 56,120	€ 148
Other comprehensive income for the period		2,360			465			1,889	2,354	6
Net income for the period		4,388	[1],[2]		4,287				4,287	101
Comprehensive income for the period		6,748			4,752			1,889	6,641	107
Dividend paid out of 2014 (€2.85 per share), 2015 (€2.93 per share) and 2016 (€2.96 per share) earnings		(3,694)			(3,694)				(3,694)
Payment of dividends to non-controlling interests		(110)								(110)
Share repurchase program (a)	[3]	(1,781)				(1,781)			(1,781)
Reduction in share capital (a)	[3]			(52)	(2,124)	2,176
Share-based payment plans:
Exercise of stock options(a)	[3]	573		18	555				573
Issuance of restricted shares(a)	[3]			6	(6)
Proceeds from sale of treasury shares on exercise of stock options		1				1			1
Value of services obtained from employees		205					205		205
Tax effects of the exercise of stock options		10					10		10
Change in non-controlling interests without loss of control		(10)			(26)				(26)	16
Balance, end of period at Dec. 31, 2015		58,210		2,611	52,010	(298)	2,814	912	58,049	161
Other comprehensive income for the period		928			(127)			1,052	925	3
Net income for the period		4,800	[2]		4,709				4,709	91
Comprehensive income for the period		5,728			4,582			1,052	5,634	94
Dividend paid out of 2014 (€2.85 per share), 2015 (€2.93 per share) and 2016 (€2.96 per share) earnings		(3,759)			(3,759)				(3,759)
Payment of dividends to non-controlling interests		(110)								(110)
Share repurchase program (a)	[3]	(2,905)				(2,905)			(2,905)
Reduction in share capital (a)	[3]			(45)	(1,655)	1,700
Share-based payment plans:
Exercise of stock options(a)	[3]	219		7	212				219
Issuance of restricted shares(a)	[3]			7	(7)
Employee share ownership plan(a)	[3]	100		4	96				100
Value of services obtained from employees		227					227		227
Tax effects of the exercise of stock options		(9)					(9)		(9)
Change in non-controlling interests without loss of control		25			(2)				(2)	27
Change in non-controlling interests arising from divestment		(2)								(2)
Balance, end of period at Dec. 31, 2016		57,724		2,584	51,477	(1,503)	3,032	1,964	57,554	170
Other comprehensive income for the period		(2,681)			(117)			(2,549)	(2,666)	(15)
Net income for the period		8,555	[2]		8,434				8,434	121
Comprehensive income for the period		5,874			8,317			(2,549)	5,768	106
Dividend paid out of 2014 (€2.85 per share), 2015 (€2.93 per share) and 2016 (€2.96 per share) earnings		(3,710)			(3,710)				(3,710)
Payment of dividends to non-controlling interests		(99)								(99)
Share repurchase program (a)	[3]	(2,159)				(2,159)			(2,159)
Reduction in share capital (a)	[3]			(94)	(3,554)	3,648
Share-based payment plans:
Exercise of stock options(a)	[3]	223		8	215				223
Issuance of restricted shares(a)	[3]			7	(7)
Employee share ownership plan(a)	[3]	106		3	103				106
Value of services obtained from employees		263					263		263
Tax effects of the exercise of stock options		3					3		3
Other changes arising from issuance of restricted shares (b)	[4]	16			16				16
Change in non-controlling interests without loss of control		24			25				25	(1)
Change in non-controlling interests arising from divestment		(7)								(7)
Balance, end of period at Dec. 31, 2017		€ 58,258		€ 2,508	€ 52,882	€ (14)	€ 3,298	€ (585)	€ 58,089	€ 169

[1] Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.).

[2] The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36.

[3] See Notes D.15.1., D.15.3., D.15.4. and D.15.5.

[4] Issuance of restricted shares to former employees of the Animal Health business subsequent to the date of divestment.

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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

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Consolidated Statements of Cash Flows - EUR (€) € in Millions		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of cash flows [Abstract]
Net income attributable to equity holders of Sanofi	[1]	€ 8,434	€ 4,709	€ 4,287
Net (income)/loss of the exchanged/held-for-exchange Animal Health business	[1],[2]	(4,643)	(314)	124	[3]
Non-controlling interests, excluding BMS(b)	[1],[4]	38	5	7
Share of undistributed earnings from investments accounted for using the equity method	[1]	(66)	(83)	115
Depreciation, amortization and impairment of property, plant and equipment and intangible assets	[1]	3,686	3,301	4,276
Gains and losses on disposals of non-currentassets, net of tax(c)	[1],[5]	(97)	(244)	(136)
Net change in deferred taxes	[1]	(909)	(542)	(1,253)
Net change in non-current provisions and other non-currentliabilities(d)	[1],[6]	321	20	(13)
Cost of employee benefits (stock options and other share-based payments)	[1]	263	241	193
Impact of the workdown of acquired inventories remeasured at fair value	[1]	166
Unrealized (gains)/losses recognized in income	[1]	38	(83)	(365)
Operating cash flow before changes in working capital and excluding the exchanged/held-for-exchange Animal Health business	[1]	7,231	7,010	7,235
(Increase)/decrease in inventories	[1]	(145)	(323)	(466)
(Increase)/decrease in accounts receivable	[1]	(529)	168	(493)
Increase/(decrease) in accounts payable	[1]	577	447	241
Net change in other current assets and other current liabilities	[1]	245	536	1,773
Net cash provided by/(used in) operating activities excluding the exchanged/held-for-exchange Animal Health business(e)	[1],[7]	7,379	7,838	8,290
Net cash provided by/(used in) operating activities of the exchanged/held-for-exchange Animal Health business	[1]		346	630
Acquisitions of property, plant and equipment and intangible assets	[1]	(1,956)	(2,083)	(2,772)
Acquisitions of investments in consolidated undertakings and investments accounted for using the equity method(f)/(h)	[1],[8],[9]	(1,151)	(426)	(220)
Acquisitions of available-for-sale financial assets	[1]	(161)	(208)	(142)
Proceeds from disposals of property, plant and equipment, intangible assets and other non-current assets, net of tax(g)	[1],[10]	535	209	211
Net change in loans and other financial assets	[1]	(163)	(3)	(88)
Net cash provided by/(used in) investing activities excluding the exchanged/held-for-exchangeAnimal Health business	[1]	(2,896)	(2,511)	(3,011)
Net cash provided by/(used in) investing activities of the exchanged/held-for-exchangeAnimal Health business	[1]		(126)	(246)
Net cash inflow from the exchange of the Animal Health business for BI's Consumer Healthcare business(i)	[1],[11]	3,535
Issuance of Sanofi shares	[1]	319	305	573
to shareholders of Sanofi	[1]	(3,710)	(3,759)	(3,694)
to non-controlling interests, excluding BMS (b)	[1],[4]	(15)	(21)	(12)
Payments received/(made) on changes of ownership interest in a subsidiary without loss of control	[1]	(37)	(11)	(8)
Additional long-term debt contracted	[1]	41	4,773	2,253
Repayments of long-term debt	[1]	(2,368)	(2,576)	(708)
Net change in short-term debt	[1]	30	96	(199)
Acquisitions of treasury shares	[1]	(2,162)	(2,908)	(1,784)
Disposals of treasury shares, net of tax	[1]			1
Net cash provided by/(used in) financing activities excluding the exchanged/held-for-exchangeAnimal Health business	[1]	(7,902)	(4,101)	(3,578)
Net cash provided by/(used in) financing activities of the exchanged/held-for-exchangeAnimal Health business	[1]		111	(23)
Impact of exchange rates on cash and cash equivalents	[1]	(74)	(101)	(232)
Impact on cash and cash equivalents of the reclassification of the Animal Health business to "Assets held for sale or exchange"(j)	[1],[12]			(23)
Net change in cash and cash equivalents	[1]	42	1,125	1,807
Cash and cash equivalents, beginning of period	[1]	10,273	9,148	7,341
Cash and cash equivalents, end of period	[1]	€ 10,315	€ 10,273	9,148
Net change in cash and cash equivalents excluding the Animal Health business (2015)	[1]			1,469
Net change in cash and cash equivalents of the Animal Health business (2015)	[1]			€ 361

[1] For 2015 and 2016, cash flows of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations). For 2017, all of the cash flows generated from the exchange of the Animal Health business for the Consumer Healthcare business of Boehringer Ingelheim (BI) are described in note (i) below.

[2] The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36.

[3] Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.).

[4] See Note C.2. to the financial statements for the year ended December 31, 2017.

[5] Includes available-for-sale financial assets.

[6] This line item includes contributions paid to pension funds (see Note D.19.1.).

[7] Including: 2017 2016 2015 ∎ Income tax paid (1,734) (2,096) (1,706) ∎ Interest paid (excluding cash flows on derivative instruments used to hedge debt) (347) (401) (404) ∎ Interest received (excluding cash flows on derivative instruments used to hedge debt) 56 56 57 ∎ Dividends received from non-consolidated entities 8 9 9

[8] The main cash effect of the exchange of the Animal Health business for BI's Consumer Healthcare business was the receipt by Sanofi of a balancing cash payment of €4,207 million. Consequently, all of the cash flows arising from this exchange transaction during 2017 are presented in a separate line item, Net cash inflow from the exchange of the Animal Health business for BI's Consumer Healthcare business (see Note D.1.).

[9] This line item includes payments made in respect of contingent consideration identified and recognized as a liability in business combinations.

[10] This line item includes proceeds from disposals of investments in consolidated entities and of other non-current financial assets.

[11] For the year ended December 31, 2017, this line item comprises (i) the receipt by Sanofi of a balancing cash payment of €4,207 million; (ii) reimbursements of intragroup accounts with Merial entities totaling €967 million; (iii) payment of €1,784 million of tax due on the gain arising from the divestment; and (iv) the cash held by the BI subsidiaries acquired by Sanofi. The total consideration for the sale of the Animal Health business to BI was €10,557 million (see Note D.36.), and the consideration for the acquisition of BI's Consumer Healthcare business was €6,239 million (see Note D.1.).

[12] Cash and cash equivalents of the Animal Health business are presented within the line item Assets held for sale or exchange for the years ended December 31, 2015 and 2016.

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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

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Notes to the Consolidated Financial Statements

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Notes to the Consolidated Financial Statements

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

INTRODUCTION

Sanofi, together with its subsidiaries (collectively “Sanofi” or “the Company”), is a global healthcare leader engaged in the research, development and marketing of therapeutic solutions focused on patient needs.

Sanofi is listed in Paris (Euronext: SAN) and New York (NYSE: SNY).

The consolidated financial statements for the year ended December 31, 2017, and the notes thereto, were signed off by the Sanofi Board of Directors on February 7, 2018.

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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.

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New Standards, Amendments and Interpretations

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

New Standards, Amendments and Interpretations

A.2. New standards, amendments and interpretations

A.2.1. New standards, amendments and interpretations applicable in 2017

The new standards, amendments to standards, and interpretations that are mandatorily applicable with effect from the 2017 financial year have no material impact on the financial statements, or on their presentation.

In accordance with the amendment to IAS 7 (Statement of Cash Flows), with effect from the year ended December 31, 2017 Sanofi discloses changes in debt arising from financing activities, showing cash and non-cash 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:

∎ Revenue recognized within Net sales by Sanofi arises 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. The concepts of “transfer of control” and “variable consideration” do not materially affect the way in which Sanofi recognizes revenue. Consequently, Sanofi does not anticipate any significant change in the timing or amount of net sales recognized.

∎ Other revenues recognized by Sanofi mainly comprise license royalties under collaboration agreements, and VaxServe sales of products sourced from third-party manufacturers. Sanofi does not anticipate any significant change in the timing or amount of other revenues recognized.

∎ Other operating income mainly comprises revenue arising from the sharing of costs and profits on product commercialization operations carried out in collaboration with partners, generating revenue under complex partnership and co-promotion agreements. Sanofi does not anticipate any significant change in the timing or amount of other operating income recognized. Other operating income also includes realized and unrealized foreign exchange gains and losses on operating activities, and gains on disposals of non-financial assets not regarded as major disposals, which are outside the scope of IFRS 15.

∎ Share of profits or losses from investments accounted for using the equity method: Sanofi does not expect IFRS 15 to have a major impact on the determination of the share of profits or losses from the associates and joint ventures concerned.

Sanofi will apply IFRS 15 with effect from January 1, 2018, using the full retrospective method of adoption: the opening balance of equity at the start of the first period presented (January 1, 2016) will be adjusted to reflect the cumulative impact of applying IFRS 15, and comparative information for the years ended December 31, 2016 and 2017 will be presented in accordance with IFRS 15. Consequently, in the financial statements for the year ended December 31, 2018 all periods will be presented as though IFRS 15 had always been applied. The adjustments to net sales for the years ended December 31, 2016 and 2017 are regarded as immaterial.

In July 2014 the IASB issued IFRS 9 (Financial Instruments). With effect from January 1, 2018, IFRS 9 replaces the currently applicable standards on the presentation, recognition and measurement of financial instruments (IAS 39).

To date, the conclusions of our analysis of the impacts of first-time application in 2018 of IFRS 9 are as follows:

∎ Classification and measurement of financial assets

IFRS 9 alters the main accounting categories used for financial assets. Financial assets held by Sanofi that are classified as “available-for-sale” 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.

∎ Classification and measurement of financial liabilities

In October 2017, the IASB issued an amendment to IFRS 9 clarifying the treatment of modifications of financial liabilities. Because Sanofi does not enter into transactions of that type, first-time application of the amendment will have no impact on the consolidated financial statements.

∎ Impairment

The new credit risk recognition model based on expected losses changes the way in which allowances for impairment of accounts receivable are calculated, in that receivables that are not yet past due must be included in the base used to calculate the allowance. Sanofi sells medicines and vaccines to wholesalers, public authorities, hospitals, clinics, pharmacies, and non governmental organizations (NGOs). Given the nature of the accounts receivable recognized by Sanofi and the associated guarantees entered into, IFRS 9 does not materially alter the amount of allowances for impairment of accounts receivable.

∎ Hedge accounting

IFRS 9 does not alter the way in which Sanofi currently accounts for hedging transactions. Such transactions are carried out as part of our policies on foreign exchange and interest rate risk hedging.

At this stage of our analyses the amount of the adjustment to be recognized within equity is estimated to be immaterial.

Sanofi will apply IFRS 9 with effect from January 1, 2018. Under the transitional provisions of IFRS 9, only financial instruments held as of January 1, 2018 require retrospective application; presentation of comparatives is optional. Sanofi will decide which option to elect during the first half of 2018.

In January 2016 the IASB issued IFRS 16 (Leases), which aligns the accounting treatment of operating leases with that already applied to finance leases (i.e. recognition in the balance sheet of a liability for future lease payments, and of an asset for the

associated rights of use). The first-time application of IFRS 16 will also lead to a change in presentation:

∎ In the income statement: the rental expense currently recognized as a component of Operating income will, under IFRS 16, be recognized partly as depreciation expense within Operating income, and partly as interest expense within Financial expenses.

∎ In the statement of cash flows: the rental payments currently presented within Net cash provided by/(used in) operating activities will, under IFRS 16, be presented within Net cash provided by/(used in) financing activities to the extent that those payments are allocated to repayment of the lease liability.

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:

∎ IFRIC 22 (Foreign Currency Transactions and Advance Consideration), issued in December 2016 and applicable from 2018 onwards; and

∎ IFRIC 23 (Uncertainty over Income Tax Treatments), issued in June 2017 and applicable from 2019 onwards.

The other amendments issued, whether within or outside the 2014-2016 Annual Improvements cycle (IFRS 2 – various clarifications, IAS 28 – long-term interests in associates and joint ventures, etc), will have no impact on Sanofi’s financial statements.

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Use of Estimates and Judgments

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Use of Estimates and Judgments

A.3. Use of estimates and judgments

The preparation of financial statements requires management to make reasonable estimates and assumptions based on information available at the date of the finalization of the financial statements. Those estimates and assumptions may affect the reported amounts of assets, liabilities, revenues and expenses in the financial statements, and disclosures of contingent assets and contingent liabilities as of the date of the review of the financial statements. Examples of estimates and assumptions include:

∎ amounts deducted from sales for projected sales returns, chargeback incentives, rebates and price reductions (see Notes B.13.1. and D.23.);

∎ impairment of property, plant and equipment, intangible assets, and investments accounted for using the equity method (see Notes B.6. and D.5.);

∎ the valuation of goodwill and the valuation and useful life of acquired intangible assets (see Notes B.3.2., B.4.3., D.4. and D.5.);

∎ the measurement of contingent consideration receivable in connection with asset divestments (see Notes B.8.6. and D.7.);

∎ the amount of post-employment benefit obligations (see Notes B.23. and D.19.1.);

∎ the amount of provisions for restructuring, litigation, tax risks and environmental risks (see Notes B.12., B.19., B.20., B.22., D.19. and D.22.);

∎ the amount of deferred tax assets resulting from tax losses available for carry-forward and deductible temporary differences (see Notes B.22. and D.14.);

∎ the direct and indirect impacts recorded in 2017 of the US tax reform (Tax Cuts and Jobs Act of 2017), including the estimated tax charge on deemed repatriation that is attributable to the accumulated earnings of non-US operations. The estimate of such tax charge will be finalized based on further analysis and, as the case may be, computations taking into account any future clarifications and supplementary guidance issued by the US Congress, the US Internal Revenue Service, the US Securities and Exchange Commission or other regulators.

∎ the measurement of contingent consideration (see Notes B.3. and D.18.); and

∎ which exchange rate to use at the end of the reporting period for the translation of accounts denominated in foreign currencies, and of financial statements of foreign subsidiaries, in cases where more than one exchange rate exists for a given currency (see Note A.4.).

Actual results could differ from these estimates.

Management is also required to exercise judgment in assessing whether the criteria specified in IFRS 5 (Non-Current 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.

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Consolidation and Foreign Currency Translation of the Financial Statements of Venezuelan Subsidiaries

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Consolidation and Foreign Currency Translation of the Financial Statements of Venezuelan Subsidiaries

A.4. Consolidation and foreign currency translation of the financial statements of Venezuelan subsidiaries

Sanofi continues to account for subsidiaries based in Venezuela using the full consolidation method, on the basis that the criteria for control as specified in IFRS 10 (Consolidated Financial Statements) are still met.

Prior to 2016, the Venezuelan foreign exchange system consisted of three exchange rates: (i) the “CENCOEX” rate, set at a fixed rate of 6.3 bolivars per US dollar and restricted to essential goods; (ii) an administered exchange rate (the “SICAD” rate), which was 13.5 bolivars per US dollar as of December 31, 2015 and applied to certain specific business sectors; and (iii) the “SIMADI” rate, of approximately 200 bolivars per US dollar, applied to specified transactions. In preparing the consolidated financial statements, the financial statements of the Venezuelan subsidiaries were translated into euros using the “SICAD” official exchange rate, which was the estimated rate at which the profits generated by the operations of those subsidiaries would be remitted to the parent.

In February 2016, the Venezuelan government reformed the foreign exchange system, which from that date had two exchange rates that applied to two categories of goods:

∎ a first category for essential goods to which was applied the “DIPRO” rate, set at a fixed exchange rate of 10 bolivars per US dollar;

∎ a second category to which was applied the “DICOM” rate, which was a floating exchange rate against the US dollar that initially stood at 206 bolivars per US dollar and was approximately 3,345 bolivars per US dollar as of December 31, 2017.

In light of those changes to the foreign exchange system, recent economic and political developments and the scarcity of US dollar cash in Venezuela, Sanofi changed the exchange rate used to translate its Venezuelan operations and from 2016 onwards has applied the “DICOM” rate. This change led to the recognition of a foreign exchange loss of €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.

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Change in the Operational Structure of Sanofi

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

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.).

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Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

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:

∎ Acquisition-related costs are recognized as an expense on the acquisition date, as a component of Operating income.

∎ Contingent consideration is recognized in equity if the contingent payment is settled by delivery of a fixed number of the acquirer’s equity instruments; otherwise, it is recognized in Liabilities related to business combinations. Contingent consideration is recognized at fair value at the acquisition date irrespective of the probability of payment. If the contingent consideration was originally recognized as a financial liability, subsequent adjustments to the liability are recognized in profit or loss in the line item Fair value remeasurement of contingent consideration, unless the adjustment is made within the twelve months following the acquisition date and relates to facts and circumstances existing as of that date. Subsequent contingent consideration adjustments in respect of business combinations completed before January 1, 2010 continue to be accounted for in accordance with the pre-revision IFRS 3 (i.e. through goodwill).

∎ In the case of a step acquisition, the previously-held equity interest is remeasured at its acquisition-date fair value. The difference between this fair value and the carrying amount is recorded in profit or loss, along with any gains or losses relating to the previously-held interest that were recognized in other comprehensive income and are reclassifiable to profit or loss.

∎ Goodwill may be calculated on the basis of either (i) the entire fair value of the acquiree, or (ii) a share of the fair value of the acquiree proportionate to the interest acquired. This option may be elected for each acquisition individually.

∎ The effects of (i) a buyout of non-controlling interests in a subsidiary already controlled by Sanofi, and (ii) a disposal of a percentage interest without loss of control, are recognized in equity.

∎ In a partial disposal resulting in loss of control, the retained equity interest is remeasured at fair value at the date of loss of control. The gain or loss recognized on the disposal includes the effect of that remeasurement, and items that were initially recognized in equity are reclassified to profit or loss.

∎ Adjustments to the values of assets and liabilities initially determined provisionally (pending the results of independent valuations or further analysis) are recognized as a retrospective adjustment to goodwill if they are made within twelve months of the acquisition date. Once this twelve-month period has elapsed, the effects of any adjustments are recognized directly in profit or loss, unless they qualify as an error correction.

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:

Buildings	15 to 40 years
Fixtures	10 to 20 years
Machinery and equipment	5 to 15 years
Other	3 to 15 years

Useful lives and residual values of property, plant and equipment are reviewed annually. The effect of any adjustment to useful lives or residual values is recognized prospectively as a change in accounting estimate.

Depreciation of property, plant and equipment is recognized as an expense in the income statement, in the relevant classification of expense by function.

B.6. Impairment of property, plant and equipment, intangible assets, and investments accounted for using the equity method

B.6.1. Impairment of property, plant and equipment and intangible assets

In accordance with IAS 36 (Impairment of Assets), assets that generate separate cash flows and assets included in cash-generating units (CGUs) are assessed for impairment when events or changes in circumstances indicate that the asset or CGU may be impaired. A CGU is the smallest identifiable group of assets that generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Under IAS 36, each CGU to which goodwill is allocated must (i) represent the lowest level within the entity at which the goodwill is monitored for internal management purposes, and (ii) not be larger than an operating segment determined in accordance with IFRS 8 (Operating Segments), before application of the IFRS 8 aggregation criteria (see Note B.26.).

Quantitative and qualitative indications of impairment (primarily relating to the status of the research and development portfolio, pharmacovigilance, patent litigation, and the launch of competing products) are reviewed at the end of each reporting period. If there is any internal or external indication of impairment, Sanofi estimates the recoverable amount of the asset or CGU.

Other intangible assets not yet available for use (such as capitalized in-process 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:

∎ the appropriate level of management must be committed to a plan to sell;

∎ an active program to locate a buyer and complete the plan must have been initiated;

∎ the asset must be actively marketed for sale at a price that is reasonable in relation to its current fair value;

∎ completion of the sale should be foreseeable within the twelve months following the date of reclassification to Assets held for sale or exchange; and

∎ actions required to complete the plan should indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn.

Before initial reclassification of the non-current 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:

∎ represents a separate major line of business or geographical area of operations; or,

∎ is part of a single coordinated plan to dispose of a separate major line of business or geographical area of operations; or,

∎ is a subsidiary acquired exclusively with a view to resale.

In accordance with IFRS 10, transactions between companies that are held for sale or treated as discontinued operations and other consolidated companies are eliminated.

Events or circumstances beyond Sanofi’s control may extend the period to complete the sale or exchange beyond one year without precluding classification of the asset (or disposal group) in Assets held for sale or exchange 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:

∎ The assets and liabilities previously classified as held for sale are reclassified to the appropriate balance sheet line items, with no restatement of comparative periods.

∎ Each asset is measured at the lower of (a) its carrying amount before the asset was reclassified as held for sale, adjusted for any depreciation, amortization or revaluation that would have been recognized if the asset had not been reclassified as held for sale, or (b) its recoverable amount at the date of reclassification.

∎ The backlog of depreciation, amortization and impairment not recognized while non-current assets were classified as held for sale must be reported in the same income statement line item that was used to report impairment losses arising on initial reclassification of assets as held for sale and gains or losses arising on the sale of such assets. In the consolidated income statement, those impacts are reported within the line item Other gains and losses, and litigation.

∎ The net income of a business previously classified as discontinued or as held for sale or exchange and reported on a separate line in the income statement must be reclassified and included in net income from continuing operations, for all periods presented.

∎ In addition, segment information relating to the income statement and the statement of cash flows (acquisitions of non-current assets) must be disclosed in the notes to the financial statements in accordance with IFRS 8 (Operating Segments), and must also be restated for all prior periods presented.

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.

			Method used to determine fair value
Note	Type of financial instrument	Measurement principle	Valuation model	Market data
				Exchange rate	Interest rate
D.7.	Available-for-sale financial assets (quoted equity securities)	Fair value	Quoted market price	N/A	N/A
D.7.	Available-for-sale financial assets (quoted debt securities)	Fair value	Quoted market price	N/A	N/A
D.7.	Available-for-sale financial assets (contingent consideration receivable):	Fair value	Under IAS 39, contingent consideration receivable on a divestment is a financial asset. The fair value of such assets is determined by adjusting the contingent consideration at the end of the reporting period using the method described in Note D.7.
D.7.	Long-term loans and advances and other non-current receivables	Amortized cost	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.
D.7.	Financial assets recognized under the fair value option(a)	Fair value	Market value (net asset value)	N/A	N/A
D.20.	Forward currency contracts	Fair value	Present value of future cash flows	Mid Market Spot	< 1 year: Mid Money Market > 1 year: Mid Zero Coupon
D.20.	Interest rate swaps	Fair value	Present value of future cash flows	Mid Market Spot	< 1 year: Mid Money Market > 1 year: Mid Zero Coupon
D.20.	Cross-currency swaps	Fair value	Present value of future cash flows	Mid Market Spot	< 1 year: Mid Money Market > 1 year: Mid Zero Coupon
D.13.	Investments in mutual funds	Fair value	Market value (net asset value)	N/A	N/A
D.13.	Negotiable debt instruments, commercial paper, instant access deposits and term deposits	Amortized cost	Because these instruments have a maturity of less than 3 months, amortized cost is regarded as an acceptable approximation of fair value as disclosed in the notes to the consolidated financial statements.
			In the case of debt with a maturity of less than 3 months, amortized cost is regarded as an acceptable approximation of fair value as reported in the notes to the consolidated financial statements.
D.17.	Debt	Amortized cost(b)	For debt with a maturity of more than 3 months, fair value as reported in the notes to the consolidated financial statements is determined either by reference to quoted market prices at the end of the reporting period (quoted instruments) or by discounting the future cash flows based on observable market data at the end of the reporting period (unquoted instruments).
D.18.	Liabilities related to business combinations and to non-controlling interests (CVRs)	Fair value	Quoted market price	N/A	N/A
D.18.	Liabilities related to business combinations and to non-controlling interests (other than CVRs)	Fair value(c)	Under IAS 32, contingent consideration payable in a business combination is a financial liability. The fair value of such liabilities is determined by adjusting the contingent consideration at the end of the reporting period using the method described in Note D.18.

(a) These assets are held to fund a deferred compensation plan offered to certain employees.

(b) In the case of debt designated as a hedged item in a fair value hedging relationship, the carrying amount in the consolidated balance sheet includes changes in fair value attributable to the hedged risk(s).

(c) For business combinations completed prior to application of the revised IFRS 3, contingent consideration is recognized when payment becomes probable (see Note B.3.1.).

The other financial assets and liabilities included in the consolidated balance sheet are:

∎ Non-derivative current financial assets and liabilities: because these items have a maturity close to the end of the reporting period, Sanofi regards their carrying amount (i.e. historical cost less any credit risk allowance) as a reasonable approximation of their fair value.

∎ Equity interests in companies not quoted in an active market and the fair value of which cannot be measured reliably, which are measured at amortized cost in accordance with IAS 39.

B.8.7. Derecognition of financial instruments

Financial assets are derecognized when the contractual rights to cash flows from the asset have ended or have been transferred and when Sanofi has transferred substantially all risks and rewards of ownership of the asset. If Sanofi has neither transferred nor retained substantially all the risks and rewards of ownership of a financial asset, it is derecognized if Sanofi does not retain control of the asset.

A financial liability is derecognized when Sanofi’s contractual obligations in respect of the liability are discharged, cancelled or extinguished.

B.8.8. Risks relating to financial instruments

Market risks in respect of non-current 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:

∎ Provisions for chargeback incentives are estimated on the basis of the relevant subsidiary’s standard sales terms and conditions, and in certain cases on the basis of specific contractual arrangements with the customer. They represent management’s best estimate of the amount of chargeback incentives that will ultimately be claimed by the customer.

∎ Provisions for rebates based on attainment of sales targets are estimated and accrued as each of the underlying sales transactions is recognized.

∎ Provisions for price reductions under Government and State programs, largely in the United States, are estimated on the basis of the specific terms of the relevant regulations or agreements, and accrued as each of the underlying sales transactions is recognized.

∎ Provisions for sales returns are calculated on the basis of management’s best estimate of the amount of product that will ultimately be returned by customers. In countries where product returns are possible, Sanofi operates a returns policy that allows the customer to return products within a certain period either side of the expiry date (usually 12 months after the expiry date). The provision is estimated on the basis of past experience of sales returns.

Sanofi also takes into account factors such as levels of inventory in its various distribution channels, product expiry dates, information about potential discontinuation of products, the entry of competing generics into the market, and the launch of over-the-counter 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:

∎ the nature and patient profile of the underlying product;

∎ the applicable regulations or the specific terms and conditions of contracts with governmental authorities, wholesalers and other customers;

∎ historical data relating to similar contracts, in the case of qualitative and quantitative rebates and chargeback incentives;

∎ past experience and sales growth trends for the same or similar products;

∎ actual inventory levels in distribution channels, monitored by Sanofi using internal sales data and externally provided data;

∎ the shelf life of Sanofi products; and

∎ market trends including competition, pricing and demand.

B.13.2. Other revenues

Other revenues mainly comprise royalties under licensing agreements (see Note C.), and VaxServe sales of products sourced from third-party manufacturers.

VaxServe is a Vaccines segment entity whose operations include the distribution within the United States of vaccines and other products manufactured by third parties.

Some sales recorded by VaxServe are presented within the line item Other revenues 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:

∎ gains and losses on major disposals of property, plant and equipment, of intangible assets, of assets (or groups of assets and liabilities) held for sale, or of a business within the meaning of the revised IFRS 3, other than those considered to be restructuring costs;

∎ impairment losses and reversals of impairment losses on assets (or groups of assets and liabilities) held for sale, other than those considered to be restructuring costs;

∎ gains on bargain purchases; and

∎ costs and provisions relating to major litigation; and

∎ pre-tax separation costs associated with the process of disinvesting from operations in the event of a major divestment.

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:

∎ Deferred tax assets and liabilities are recognized on taxable and deductible temporary differences, and on tax loss carry-forwards. Temporary differences are differences between the carrying amount of an asset or liability in the balance sheet and its tax base.

∎ French business taxes include a value added based component: “CVAE” (Cotisation sur la Valeur Ajoutée des Entreprises). Given that CVAE is (i) calculated as the amount by which certain revenues exceed certain expenses and (ii) borne primarily by companies that own intellectual property rights on income derived from those rights (royalties, and margin on sales to third parties and to Sanofi entities), it is regarded as meeting the definition of income taxes specified in IAS 12, paragraph 2 (“taxes which are based on taxable profits”).

∎ Deferred tax assets and liabilities are calculated using the tax rate expected to apply in the period when the corresponding temporary differences are expected to reverse, based on tax rates enacted or substantively enacted at the end of the reporting period.

∎ Deferred tax assets are recognized in respect of deductible temporary differences, tax losses available for carry-forward and unused tax credits to the extent that future recovery is regarded as probable. The recoverability of deferred tax assets is assessed on a case-by-case basis, taking into account the profit forecasts contained in Sanofi’s medium-term business plan.

∎ A deferred tax liability is recognized for temporary differences relating to interests in subsidiaries, associates and joint ventures, except in cases where Sanofi is able to control the timing of the reversal of the temporary differences. This applies in particular when Sanofi is able to control dividend policy and it is probable that the temporary differences will not reverse in the foreseeable future.

∎ No deferred tax is recognized on eliminations of intragroup transfers of interests in subsidiaries, associates or joint ventures.

∎ Each tax entity calculates its own net deferred tax position. All net deferred tax asset and liability positions are then aggregated and shown in separate line items on the relevant side of the consolidated balance sheet. Deferred tax assets and liabilities are offset only if (i) Sanofi has a legally enforceable right to offset current tax assets and current tax liabilities, and (ii) the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority.

∎ Deferred taxes are not discounted, except implicitly in the case of deferred taxes on assets and liabilities which are already impacted by discounting.

∎ Withholding taxes on intragroup royalties and dividends, and on royalties and dividends collected from third parties, are accounted for as current income taxes.

In accounting for business combinations, Sanofi complies with the revised IFRS 3 in regards to the recognition of deferred tax assets after the initial accounting period. Consequently, any deferred tax assets recognized by the acquiree after the end of this period in respect of temporary differences or tax loss carry-forwards existing at the acquisition date are recognized in profit or loss.

The positions adopted by Sanofi in tax matters are based on its interpretation of tax laws and regulations. Some of those positions may be subject to uncertainty. In such cases, Sanofi assesses the amount of the tax liability on the basis of the following assumptions: that its position will be examined by one or more tax authorities on the basis of all relevant information; that a technical assessment is carried out with reference to legislation, case law, regulations, and established practice; and that each position is assessed individually (or collectively where appropriate), with no offset or aggregation between positions. Those assumptions are assessed on the basis of facts and circumstances existing at the end of the reporting period. When an uncertain tax position is considered probable, a tax liability is recognized (or a deferred tax asset is not recognized) measured using Sanofi’s best estimate. The amount of the liability includes any penalties and late payment interest. The line item Income tax expense 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:

∎ the implementation of any stock option plan giving entitlement to purchase shares in the Sanofi parent company;

∎ the allotment or sale of shares to employees under statutory profit sharing schemes and employee savings plans;

∎ the consideration-free allotment of shares (i.e. restricted share plans);

∎ the cancellation of some or all of the repurchased shares;

∎ market-making in the secondary market by an investment services provider under a liquidity contract in compliance with the ethical code recognized by the Autorité des marchés financiers (AMF);

∎ the delivery of shares on the exercise of rights attached to securities giving access to the capital by redemption, conversion, exchange, presentation of a warrant or any other means;

∎ the delivery of shares (in exchange, as payment, or otherwise) in connection with mergers and acquisitions;

∎ the execution by an investment services provider of purchases, sales or transfers by any means, in particular via off-market trading; or

∎ any other purpose that is or may in the future be authorized under the applicable laws and regulations.

Sanofi is not subject to any constraints on equity capital imposed by third parties.

Total equity includes Equity attributable to equity holders of Sanofi 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

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Principal alliances

C/ Principal alliances

C.1. Alliance arrangements with Regeneron Pharmaceuticals Inc. (Regeneron)

Collaboration agreement on the discovery, development and commercialization of human therapeutic antibodies

In November 2007, Sanofi and Regeneron signed new agreements (amended in November 2009) for the discovery, development and commercialization of fully human therapeutic antibodies. Sanofi having decided not to extend the discovery agreement, that agreement expired on December 31, 2017. Under the 2009 amended agreements Sanofi committed to funding the discovery and pre-clinical 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.

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Exchange of the Animal Health business

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Exchange of the Animal Health business

D.1. Exchange of the Animal Health business

Further to the exclusivity agreement of December 2015 on a future exchange of Sanofi’s Animal Health business (Merial) and Boehringer Ingelheim’s Consumer Healthcare (CHC) business, the two groups announced on June 27, 2016 that they had successfully concluded the negotiations ongoing since the end of 2015 by signing contracts to secure the deal.

Consequently, and as required by IFRS 5 (see Note B.7.), all assets of the Animal Health business included in the exchange and all liabilities directly related to those assets were classified in the line items Assets held for sale or exchange 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):

(€ million)	Fair value at acquisition date
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 of Boehringer Ingelheim’s CHC business as of January 1, 2017		4,017
Goodwill		2,222
Purchase price		6,239

Goodwill represents (i) the capacity to draw on a specialized structure to refresh the existing product portfolio; (ii) the competencies of the staff transferred to Sanofi; (iii) the benefits derived from the creation of new growth platforms; and (iv) the expected future synergies and other benefits from combining the CHC operations of Boehringer Ingelheim and Sanofi.

The tax-deductible 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

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

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:

(€ million)	Fair value at acquisition date
Other intangible assets		776
Inventories		4
Other assets and liabilities		(15)
Net deferred tax position		(259)
Net assets of Protein Sciences as of August 25, 2017		506
Goodwill		125
Purchase price		631

The acquisition price includes two contingent consideration milestones elements of €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:

(€ million)	Fair value at acquisition date
Other intangible assets		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

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

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Property, plant and equipment

D.3. Property, plant and equipment

Property, plant and equipment (including assets held under finance leases) comprise:

(€ million)	Land		Buildings		Machinery and equipment		Fixtures, fittings & other		Property, plant & equipment in process		Total
Gross value at January 1, 2015		372		6,915		9,419		2,215		1,959		20,880
Changes in scope of consolidation		(4)		1		(8)		1		(22)		(32)
Acquisitions and other increases		-		11		76		59		1,172		1,318
Disposals and other decreases		(3)		(4)		(17)		(126)		(23)		(173)
Currency translation differences		5		144		122		24		25		320
Transfers(a)		(1)		269		463		228		(1,083)		(124)
Reclassification of the Animal Health business(b)		(33)		(604)		(313)		(54)		(76)		(1,080)
Gross value at December 31, 2015		336		6,732		9,742		2,347		1,952		21,109
Acquisitions and other increases		-		9		48		51		1,232		1,340
Disposals and other decreases		(10)		(111)		(350)		(104)		(37)		(612)
Currency translation differences		1		81		36		(1)		15		132
Transfers(a)		-		247		558		128		(1,025)		(92)
Gross value at December 31, 2016		327		6,958		10,034		2,421		2,137		21,877
Changes in scope of consolidation		22		23		11		6		7		69
Acquisitions and other increases		-		10		63		54		1,267		1,394
Disposals and other decreases		(10)		(124)		(261)		(125)		(111)		(631)
Currency translation differences		(21)		(326)		(278)		(75)		(84)		(784)
Transfers(a)		-		227		576		169		(919)		53
Gross value at December 31, 2017		318		6,768		10,145		2,450		2,297		21,978
Accumulated depreciation & impairment at January 1, 2015		(17)		(2,979)		(5,780)		(1,549)		(159)		(10,484)
Changes in scope of consolidation		6		5		12		-		22		45
Depreciation expense		-		(376)		(607)		(208)		-		(1,191)
Impairment losses, net of reversals		-		(38)		(42)		(11)		(41)		(132)
Disposals and other decreases		-		3		15		122		13		153
Currency translation differences		-		(33)		(49)		(17)		-		(99)
Transfers(a)		-		34		90		(4)		(1)		119
Reclassification of the Animal Health business(b)		-		252		145		26		-		423
Accumulated depreciation & impairment at December 31, 2015		(11)		(3,132)		(6,216)		(1,641)		(166)		(11,166)
Depreciation expense		-		(356)		(595)		(190)		-		(1,141)
Impairment losses, net of reversals		(3)		(31)		(17)		(30)		(78)		(159)
Disposals and other decreases		3		107		348		100		33		591
Currency translation differences		-		(37)		(16)		(2)		(2)		(57)
Transfers(a)		4		22		16		6		26		74
Accumulated depreciation & impairment at December 31, 2016		(7)		(3,427)		(6,480)		(1,757)		(187)		(11,858)
Depreciation expense		-		(329)		(595)		(197)		-		(1,121)
Impairment losses, net of reversals		(11)		(45)		(177)		(6)		(15)		(254)
Disposals and other decreases		-		94		239		117		107		557
Currency translation differences		1		140		147		53		2		343
Transfers(a)		(3)		(45)		(19)		(14)		15		(66)
Accumulated depreciation & impairment at December 31, 2017		(20)		(3,612)		(6,885)		(1,804)		(78)		(12,399)
Carrying amount at December 31, 2015		325		3,600		3,526		706		1,786		9,943
Carrying amount at December 31, 2016		320		3,531		3,554		664		1,950		10,019
Carrying amount at December 31, 2017		298		3,156		3,260		646		2,219		9,579

(a) This line also includes the effect of the reclassification of assets to Assets held for sale or exchange.

(b) This line comprises the property, plant and equipment of the Animal Health business, reclassified to Assets held for sale or exchange as of December 31, 2015 in accordance with IFRS 5 (see Notes D.1. and D.36.).

Acquisitions during 2017 amounted to €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:

(€ million)	2017		2016		2015
Land		4		3		3
Buildings		102		102		101
Other		9		8		8
Total gross value		115		113		112
Accumulated depreciation and impairment		(87)		(79)		(69)
Carrying amount		28		34		43

Future minimum lease payments due under finance leases as of December 31, 2017 were €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:

	Payments due by period
(€ million)	Total		Less than 1 year		1 to 3 years		3 to 5 years		More than 5 years
Finance lease obligations
∎   principal		32		11		6		6		9
∎   interest		7		2		2		2		1
Total		39		13		8		8		10

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Goodwill and other intangible assets

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Goodwill and other intangible assets

D.4. Goodwill and other intangible assets

Movements in goodwill comprise:

(€ million)	Goodwill
Balance at January 1, 2015		39,197
Reclassification of the Animal Health business(a)		(1,510)
Currency translation differences		1,870
Balance at December 31, 2015		39,557
Acquisitions during the period		5
Currency translation differences		725
Balance at December 31, 2016		40,287
Acquisitions during the period		2,347
Other movements during the period		12
Currency translation differences		(2,382)
Balance at December 31, 2017		40,264

(a) Comprises the goodwill on the Animal Health business, presented within Assets held for sale or exchange as of December 31, 2016 and 2015.

Acquisition of Protein Sciences (2017)

The provisional purchase price allocation for Protein Sciences resulted in the recognition of intangible assets (other than goodwill) totaling €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:

(€ million)	Acquired R&D			Products, trademarks and other rights		Software		Total other intangible assets
Gross value at January 1, 2015		3,482			53,130		1,240		57,852
Acquisitions and other increases		1,179			912		154		2,245
Disposals and other decreases		(204)			(1,321)		(27)		(1,552)
Currency translation differences		189			3,610		35		3,834
Transfers(a)		(741)			653		11		(77)
Reclassification of the Animal Health business(b)		(51)			(4,982)		(182)		(5,215)
Gross value at December 31, 2015		3,854			52,002		1,231		57,087
Changes in scope of consolidation		-			465		-		465
Acquisitions and other increases		142			127		148		417
Disposals and other decreases		(305)	(d)		(687)		(73)		(1,065)
Currency translation differences		55			1,124		17		1,196
Transfers(a)		(97)			76		3		(18)
Gross value at December 31, 2016		3,649			53,107		1,326		58,082
Changes in scope of consolidation		-			4,546		1		4,547
Acquisitions and other increases		317			212		170		699
Disposals and other decreases		(39)			(450)		(62)		(551)
Currency translation differences		(200)			(3,814)		(51)		(4,065)
Transfers(a)		(48)			37		(16)		(27)
Gross value at December 31, 2017		3,679			53,638		1,368		58,685
Accumulated amortization & impairment at January 1, 2015		(2,041)			(40,352)		(916)		(43,309)
Amortization expense		-			(2,651)		(108)		(2,759)
Impairment losses, net of reversals(c)		(343)			(427)		(3)		(773)
Disposals and other decreases		204			1,257		27		1,488
Currency translation differences		(124)			(2,662)		(23)		(2,809)
Transfers(a)		-			39		(6)		33
Reclassification of the Animal Health business(b)		3			2,908		157		3,068
Accumulated amortization & impairment at December 31, 2015		(2,301)			(41,888)		(872)		(45,061)
Amortization expense		-			(1,712)		(104)		(1,816)
Impairment losses, net of reversals(c)		(60)			(137)		-		(197)
Disposals and other decreases		108			673		73		854
Currency translation differences		(41)			(931)		(12)		(984)
Transfers(a)		4			(2)		(1)		1
Accumulated amortization & impairment at December 31, 2016		(2,290)			(43,997)		(916)		(47,203)
Amortization expense		-			(1,886)		(112)		(1,998)
Impairment losses, net of reversals(c)		(95)			(215)		(3)		(313)
Disposals and other decreases		39			443		64		546
Currency translation differences		142			3,138		35		3,315
Transfers(a)		-			41		7		48
Accumulated amortization & impairment at December 31, 2017		(2,204)			(42,476)		(925)		(45,605)
Carrying amount at December 31, 2015		1,553			10,114		359		12,026
Carrying amount at December 31, 2016		1,359			9,110		410		10,879
Carrying amount at December 31, 2017		1,475			11,162		443		13,080

(a) The “Transfers” line mainly relates to acquired R&D that came into commercial use during the period and is being amortized from the date of marketing approval.

(b) Comprises the other intangible assets of the Animal Health business, now reclassified to Assets held for sale or exchange.

(c) See Note D.5.

(d) Includes the return of product rights to Hanmi Pharmaceutical Co. Ltd in 2016 (see Note D.21.1).

“Products, trademarks and other rights” (excluding items relating to the Animal Health business, reported within the line item Assets held for sale or exchange, see Note D.36.), mainly comprise:

∎ marketed products, with a carrying amount of €10.6 billion as of December 31, 2017 (versus €8.4 billion as of December 31, 2016 and €9.4 billion as of December 31, 2015) and a weighted average amortization period of approximately 10 years;

∎ trademarks, with a carrying amount of €0.2 billion as of December 31, 2017 (compared with €0.2 billion as of December 31, 2016 and €0.3 billion as of December 31, 2015) and a weighted average amortization period of approximately 13 years.

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:

(€ million)	Gross value		Accumulated amortization & impairment		Carrying amount December 31, 2017		Amortization period (years)(a)		Residual amortization period (years)(b)		Carrying amount at December 31, 2016		Carrying amount at December 31, 2015
Genzyme		10,287		(6,453)		3,834		10		6		5,009		5,759
Boehringer Ingelheim Consumer Healthcare		3,683		(241)		3,442		16		16		-		-
Aventis		32,308		(31,724)		584		9		3		1,095		1,548
Chattem		1,217		(451)		766		23		16		930		956
Zentiva		961		(869)		92		9		4		128		187
Protein Sciences		765		(21)		744		13		13		-		-
Total: principal marketed products		49,221		(39,759)		9,462						7,162		8,450

(a) Weighted averages. The amortization periods for these products vary between 1 and 25 years.

(b) Weighted averages.

Acquisitions of other intangible assets (excluding software) during 2017 amounted to €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:

(€ million)	2017(a)		2016(a)		2015(a)
Cost of sales		28		28		25
Research and development expenses		22		16		13
Selling and general expenses		53		56		52
Other operating expenses		9		5		4
Total		112		105		94

(a) The results of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36.

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Impairment of intangible assets and property, plant and equipment

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Dec. 31, 2017

Text Block1 [Abstract]

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:

(€ million)	Pharmaceuticals		Consumer Healthcare		Vaccines		Total Sanofi
Goodwill		32,437		6,525		1,302		40,264

The value in use of each CGU was determined by applying an after-tax 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:

∎ the perpetual growth rates applied to future cash flows were zero for the Pharmaceuticals CGU, 2% for the Consumer Healthcare CGU, and 0.5% for the Vaccines CGU;

∎ Sanofi also applies assumptions on the probability of success of current research and development projects, and more generally on its ability to renew the product portfolio in the longer term.

Value in use (determined as described above) is compared with the carrying amount, and this comparison is then subjected to sensitivity analyses by reference to the principal parameters, including:

∎ changes in the discount rate;

∎ changes in the perpetual growth rate; and

∎ fluctuations in operating margin.

No impairment of goodwill would need to be recognized in the event of a reasonably possible change in the assumptions used in 2017.

A value in use calculation for each of the CGUs would not result in an impairment loss using:

∎ a discount rate up to 1.3 percentage points above the rates actually used; or

∎ a perpetual growth rate up to 2.7 percentage points below the rates actually used; or

∎ an operating margin up to 3.8 percentage points below the rates actually used.

No impairment losses were recognized against goodwill in the years ended December 31, 2017, 2016 or 2015.

Other intangible assets

When there is evidence that an asset may have become impaired, the asset’s recoverable amount is calculated by applying an after-tax 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:

∎ €340 million on research and development projects in the Pharmaceuticals and Vaccines segments, in particular (i) Synvisc-One^® in osteoarthritis of the hip and (ii) the rotavirus vaccine project (Shantha); and

∎ €427 million on rights for a number of marketed products in the Pharmaceuticals segment, in particular (i) Afrezza^® in the United States following termination of the license and collaboration agreement with MannKind Corporation and (ii) Auvi-Q^®/Allerject^® in the United States and Canada following the voluntary recall of the product.

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.

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Investments accounted for using the equity method

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Dec. 31, 2017

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Investments accounted for using the equity method

D.6. Investments accounted for using the equity method

Investments accounted for using the equity method comprise associates and joint ventures (see Note B.1.).

The table below sets forth Sanofi’s investments accounted for using the equity method:

(€ million)	% interest		2017		2016		2015
Regeneron Pharmaceuticals, Inc.(a)		22.2		2,512		2,548		2,245
Onduo LLC		50.0		141		181		-
Sanofi Pasteur MSD(b)/(c)		-		-		-		252
Infraserv GmbH & Co. Höchst KG(b)		31.2		73		79		85
Entities and companies managed by Bristol-Myers Squibb(d)		49.9		38		44		43
Other investments		-		99		38		51
Total				2,863		2,890		2,676

(a) See Note D.2.2.

(b) Joint ventures.

(c) See Notes B.1. and D.2.3.

(d) Under the terms of the agreements with BMS (see Note C.2.), Sanofi’s share of the net assets of entities majority-owned by BMS is recorded in Investments accounted for using the equity method.

On March 8, 2016, Sanofi Pasteur and MSD (known as Merck in the United States and Canada) announced their intention to end their Sanofi Pasteur MSD (SPMSD) joint venture, in order to pursue their own distinct growth strategies in Europe. The transaction was finalized on December 31, 2016 (see Notes B.1. and D.2.3.). Following the announcement, Sanofi’s interest in SPMSD was reclassified to the line item Assets held for sale or exchange.

The table below shows Sanofi’s overall share of (i) profit or loss and (ii) other comprehensive income from investments accounted for using the equity method, showing the split between associates and joint ventures in accordance with IFRS 12 (the amounts for each individual associate or joint venture are not material):

	2017				2016				2015
(€ million)	Joint ventures		Associates		Joint ventures		Associates		Joint ventures		Associates
Share of profit/(loss) from investments accounted for using the equity method(a)		20		84		20		114		31		(53)
Share of other comprehensive income from investments accounted for using the equity method		22		(303)		(3)		58		1		235
Total		42		(219)		17		172		32		182

(a) The Sanofi Pasteur MSD joint venture ceased to be accounted for by the equity method on March 8, 2016, the date on which it was announced that the joint venture was to be dissolved (see Notes B.1. and D.2.3.).

The financial statements include arm’s length commercial transactions between Sanofi and some equity-accounted investments that are classified as related parties. The principal transactions and balances with related parties are summarized below:

(€ million)	2017		2016		2015
Sales(a)		33		39		218
Royalties and other income(a)		100		156		91
Accounts receivable and other receivables		85		101		81
Purchases and other expenses (including research expenses)(a)		777		708		762
Accounts payable		197		161		196
Other liabilities		20		65		10

(a) For the year ended December 31, 2016, these items include transactions between Sanofi and SPMSD during the period from January 1, 2016 through March 8, 2016 (the date of the announcement that the joint venture was to be dissolved; see Notes B.1. and D.2.3.).

Funding commitments to associates and joint ventures amounted to €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:

(€ million)	2017		2016		2015
Net sales and other revenues		5,200		4,393		3,698
Net income/(loss) for the period		815		714		232
Other comprehensive income for the period, net of taxes		12		(19)		(39)
Comprehensive income/(loss)		827		695		193

(€ million)	December 31, 2017		December 31, 2016		December 31, 2015
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
Consolidated shareholders’ equity of Regeneron		5,377		4,909		4,585

The table below shows a reconciliation to the carrying amount of the investment:

(€ million)	December 31, 2017		December 31, 2016		December 31, 2015
% interest		22%		22%		22%
Share of equity attributable to Sanofi		1,193		1,084		1,012
Goodwill		810		835		779
Fair value remeasurements of assets and liabilities at the acquisition date		938		1,065		1,039
Other items(a)		(429)		(436)		(585)
Carrying amount of the investment in Regeneron		2,512		2,548		2,245

(a) Mainly comprised of the difference arising from Sanofi’s share of the accumulated profits and losses and other changes in the net assets of Regeneron for the periods prior to first-time application of the equity method, and thereafter (i) Sanofi’s share of the stock option expense recognized against equity in the books of Regeneron, and of the deferred taxes recognized against equity in respect of that expense in accordance with IAS 12 paragraph 68C and (ii) the effects of the elimination of internal profits between Sanofi and Regeneron.

As of December 31, 2017, the market value of Sanofi’s investment in Regeneron was €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/).

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Other Non-current Assets

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Dec. 31, 2017

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Other Non-current Assets

D.7. Other non-current assets

Other non-current assets comprise:

(€ million)	2017		2016		2015
Available-for-sale financial assets		2,182		1,583		1,609
Pre-funded pension obligations (Note D.19.1.)		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 instruments (Note D.20.)		63		102		120
Total		3,364		2,820		2,725

Available-for-sale financial assets

Quoted equity securities

Equity interests classified as available-for-sale financial assets include the following publicly traded investments:

∎ An equity interest in Alnylam Pharmaceuticals, Inc. (Alnylam), acquired at the start of 2014. Based on the quoted market price, Sanofi’s equity interest was valued at €1,118 million as of December 31, 2017 (versus €364 million as of December 31, 2016 and €869 million as of December 31, 2015). On October 5, 2016, Alnylam announced that it was terminating its revusiran development program, as a result of which its share price fell by 48% on October 6, 2016. Consequently, Sanofi recognized as of December 31, 2016 an impairment loss of €457 million, reflecting the difference between the historical acquisition cost of its shares in Alnylam and the market value of those shares at that date.

∎ An equity injection into Voyager Therapeutics, Inc. carried out under the February 2015 collaboration agreement with that company, valued at €34 million as of December 31, 2017 and representing an equity interest of approximately 8% as of that date (versus €30 million as of December 31, 2016).

∎ An equity injection into MyoKardia, Inc., initiated under a collaboration agreement signed with that company in September 2014, valued at €141 million as of December 31, 2017 and representing an equity interest of approximately 11% as of that date (€45 million as of December 31, 2016).

∎ An equity injection into JHL Biotech, Inc. carried out under a collaboration agreement signed with that company on December 5, 2016, valued at €49 million as of December 31, 2017, and representing an equity interest of approximately 13% as of that date (€58 million as of December 31, 2016);

∎ Financial assets held to meet obligations to employees under post-employment benefit plans, amounting to €207 million as of December 31, 2017 (versus €372 million as of December 31, 2016 and €353 million as of December 31, 2015). Those obligations, and the financial assets held to meet them, were partially outsourced during 2017 (see Note D.29.).

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:

(€ million)	Sensitivity
Other comprehensive income before tax		(156)
Income before tax		(1)
Total		(157)

A 10% decline in the quoted market prices of Sanofi’s other available-for-sale financial assets combined with a simultaneous 0.5% rise in the yield curve would have had the following impact as of December 31, 2017:

(€ million)	Sensitivity
Other comprehensive income before tax		(13)
Income before tax		-
Total(a)		(13)

(a) Represents approximately 3.8% of the value of the assets involved.

Other disclosures about available-for-sale 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.

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Assets and Liabilities Held for Sale or Exchange

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Dec. 31, 2017

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Assets and Liabilities Held for Sale or Exchange

D.8. Assets and liabilities held for sale or exchange

Assets held for sale or exchange, and liabilities related to assets held for sale or exchange, comprise:

(€ million)	Note		December 31, 2017		December 31, 2016		December 31, 2015
Animal Health business		D.36.		-		6,376		5,626
Other				34		45		126
Assets held for sale or exchange				34		6,421		5,752
Animal Health business		D.36.		-		1,165		983
Other				-		30		-
Liabilities related to assets held for sale or exchange				-		1,195		983

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Inventories

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Dec. 31, 2017

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Inventories

D.9. Inventories

Inventories comprise the following:

	2017						2016						2015
(€ million)	Gross value		Write- down		Carrying amount		Gross value		Write- down		Carrying amount		Gross value		Write- down		Carrying amount
Raw materials		1,041		(79)		962		1,053		(104)		949		1,050		(90)		960
Work in process		4,348		(656)		3,692		4,512		(710)		3,802		4,043		(561)		3,482
Finished goods		2,340		(178)		2,162		2,341		(200)		2,141		2,282		(208)		2,074
Total		7,729		(913)		6,816		7,906		(1,014)		6,892		7,375		(859)		6,516

Write-downs include inventories of products on hand pending marketing approval.

Inventories pledged as security for liabilities amounted to €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

12 Months Ended

Dec. 31, 2017

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Accounts Receivable

D.10. Accounts receivable

An analysis of accounts receivable is set forth below:

(€ million)	December 31, 2017		December 31, 2016		December 31, 2015
Gross value		7,405		7,506		7,553
Allowances		(189)		(195)		(167)
Carrying amount		7,216		7,311		7,386

The impact of allowances against accounts receivable in 2017 was a net expense of €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.

	Overdue accounts		Overdue by:
(€ million)	Gross value		<1 month		1 to 3 months		3 to 6 months		6 to 12 months		> 12 months
December 31, 2017		644		247		143		113		48		93
December 31, 2016		597		133		103		121		42		198
December 31, 2015		677		171		147		117		83		159

Amounts overdue by more than one month relate mainly to public-sector customers.

Some Sanofi subsidiaries have assigned receivables to factoring companies or banks without recourse. The amount of receivables that met the conditions described in Note B.8.7. and were therefore derecognized was €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

12 Months Ended

Dec. 31, 2017

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Other Current Assets

D.11. Other current assets

An analysis of other current assets is set forth below:

(€ million)	2017		2016		2015
Taxes recoverable		832		1,034		1,006
Other receivables(a)		627		705		461
Prepaid expenses		336		333		300
Interest rate derivatives measured at fair value (see Note D.20.)		-		3		39
Currency derivatives measured at fair value (see Note D.20.)		133		105		59
Other current financial assets		77		31		13
Total		2,005		2,211		1,878

(a) This line mainly comprises advance payments to suppliers. The 2016 figure also includes the impact of the transactions finalized in 2016 for which payments were received in January 2017.

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Financial Assets and Liabilities Measured at Fair Value

12 Months Ended

Dec. 31, 2017

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Financial Assets and Liabilities Measured at Fair Value

D.12. Financial assets and liabilities measured at fair value

Under IFRS 7 (Financial Instruments: Disclosures), fair value measurements must be classified using a fair value hierarchy with the following levels:

∎   level  1:	quoted prices in active markets for identical assets and liabilities (without modification or repackaging);
∎   level 2:	quoted prices in active markets for similar assets and liabilities, and valuation techniques in which all important inputs are derived from observable market data;
∎   level 3:	valuation techniques in which not all important inputs are derived from observable market data.

The valuation techniques used are described in Note B.8.6.

The table below shows the balance sheet amounts of assets and liabilities measured at fair value.

			2017						2016						2015
			Level in the fair value hierarchy						Level in the fair value hierarchy						Level in the fair value hierarchy
(€ million)	Note		Level 1		Level 2		Level 3		Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Financial assets measured at fair value
Quoted equity investments		D.7.		1,568		-		-		900		-		-		1,451		-		-
Unquoted equity investments		D.7.		-		-		123		-		-		112		-		-		102
Quoted debt securities		D.7.		199		-		-		113		-		-		56		-		-
Contingent consideration relating to divestments		D.7.		-		-		342		-		-		458		-		-		-
Financial assets recognized under the fair value option		D.7.		336		-		-		329		-		-		276		-		-
Non-current derivatives		D.7.		-		63		-		-		102		-		-		120		-
Current derivatives		D.11.		-		133		-		-		108		-		-		98		-
Mutual fund investments		D.13.		7,207		-		-		6,210		-		-		5,042		-		-
Total financial assets measured at fair value				9,310		196		465		7,552		210		570		6,825		218		102
Financial liabilities measured at fair value
CVRs issued in connection with the acquisition of Genzyme		D.18.		75		-		-		85		-		-		24		-		-
Bayer contingent purchase consideration arising from the acquisition of Genzyme		D.18.		-		-		701		-		-		1,013		-		-		1,040
MSD contingent consideration (European vaccines business)		D.18.		-		-		420		-		-		354		-		-		-
Other contingent consideration arising from business combinations		D.18.		-		-		81		-		-		1		-		-		6
Liabilities related to non-controlling interests		D.18.		-		-		92		-		-		123		-		-		181
Non-current derivatives				-		16		-		-		-		-		-		3		-
Current derivatives		D.19.5.		-		58		-		-		132		-		-		82		-
Total financial liabilities measured at fair value				75		74		1,294		85		132		1,491		24		85		1,227

No transfers between the different levels of the fair value hierarchy occurred during 2017.

In connection with the dissolution of the Sanofi Pasteur MSD (SPMSD) joint venture, which was finalized on December 31, 2016, Sanofi recognized contingent consideration receivable as an available-for-sale 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:

∎ The financial asset relating to contingent consideration receivable by Sanofi based on a percentage of MSD’s future sales during the 2017-2024 period of specified products previously distributed by SPMSD amounted to €342 million.

∎ The financial liability relating to contingent consideration payable to MSD based on a percentage of future sales made by Sanofi Pasteur during the 2017-2024 period of specified products previously distributed by SPMSD amounted to €420 million.

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Cash and Cash Equivalents

12 Months Ended

Dec. 31, 2017

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Cash and Cash Equivalents

D.13. Cash and cash equivalents

(€ million)	2017		2016		2015
Cash		472		1,077		1,361
Cash equivalents(a)		9,843		9,196		7,787
Cash and cash equivalents(b)		10,315		10,273		9,148

(a) As of December 31, 2017, cash equivalents mainly comprised (i) €7,207 million invested in euro and US dollar denominated money-market mutual funds (December 31, 2016: €6,210 million; December 31, 2015: €5,042 million); (ii) €1,346 million of term deposits (December 31, 2016: €1,469 million; December 31, 2015: €1,594 million); (iii) €505 million in commercial paper (December 31, 2016: €617 million; December 31, 2015: €461 million); and (iv) €556 million held by captive insurance and reinsurance companies in accordance with insurance regulations (December 31, 2016: €553 million; December 31, 2015: €385 million).

(b) Includes immaterial amounts held by Sanofi’s Venezuelan subsidiaries as of December 31, 2017 and December 31, 2016 (versus €90 million as of December 31, 2015); see Note A.4.

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Net Deferred Tax Position

12 Months Ended

Dec. 31, 2017

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Net Deferred Tax Position

D.14. Net deferred tax position

An analysis of the net deferred tax position is set forth below:

(€ million)	2017		2016		2015
Deferred taxes on:
Consolidation adjustments (intragroup margin in inventory)		969		1,095		1,074
Provision for pensions and other employee benefits		1,263		1,538		1,522
Remeasurement of other acquired intangible assets(a)		(1,713)		(2,797)		(3,370)
Recognition of acquired property, plant and equipment at fair value		(36)		(44)		(48)
Equity interests in subsidiaries and investments in other entities(b)		(592)		(818)		(833)
Tax losses available for carry-forward		1,059		1,070		1,162
Stock options and other share-based payments		88		126		131
Accrued expenses and provisions deductible at the time of payment(c)		1,344		2,202		2,061
Other		303		5		120
Net deferred tax asset/(liability)		2,685		2,377		1,819

(a) Includes the following deferred tax liabilities as of December 31, 2017: €176 million relating to the remeasurement of the other intangible assets of Aventis, and €929 million relating to Genzyme.

(b) In some countries, Sanofi is liable for withholding taxes and other tax charges when dividends are distributed. Consequently, Sanofi recognizes a deferred tax liability on the reserves of French and foreign subsidiaries (approximately €51.0 billion) which it regards as likely to be distributed in the foreseeable future. In determining the amount of the deferred tax liability as of December 31, 2017, Sanofi took into account changes in the ownership structure of certain subsidiaries, and the effects of changes in the taxation of dividends in France following the ruling of the Court of Justice of the European Union in the Steria case and the resulting amendments to the 2015 Finance Act.

(c) Includes deferred tax assets related to restructuring provisions, amounting to €212 million as of December 31, 2017, €334 million as of December 31, 2016, and €394 million as of December 31, 2015.

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:

(€ million)	Tax losses available for carry-forward(a)
2018		33
2019		6
2020		24
2021		55
2022		43
2023 and later		5,003
Total as of December 31, 2017		5,164
Total as of December 31, 2016		5,176
Total as of December 31, 2015		5,209

(a) Excluding tax loss carry-forwards on asset disposals. Such carry-forwards amounted to €7 million as of December 31, 2017, €13 million as of December 31, 2016 and zero as of December 31, 2015.

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

12 Months Ended

Dec. 31, 2017

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Consolidated Shareholders' Equity

D.15. Consolidated shareholders’ equity

D.15.1. Share capital

As of December 31, 2017, the share capital was €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:

	Number of shares (million)		% of share capital for the period
December 31, 2017		0.2		0.01%
December 31, 2016		20.0		1.55%
December 31, 2015		4.0		0.30%
January 1, 2015		9.5		0.72%

Treasury shares are deducted from shareholders’ equity. Gains and losses on disposals of treasury shares are recorded directly in equity and are not recognized in net income for the period.

Movements in the share capital of the Sanofi parent company over the last three years are set forth below:

Date	Transaction	Number of shares		Share capital(a)		Additional paid-in capital(a)		Reserves(a)
December 31, 2014			1,319,367,445		2,639		5,614		-
During 2015	Capital increase by exercise of stock subscription options(b)		9,000,127		18		555		-
During 2015	Capital increase by issuance of restricted shares(c)		3,071,173		6		(6)		-
Board meeting of April 29, 2015	Reduction in share capital by cancellation of treasury shares		(18,482,786)		(37)		(1,454)		-
Board meeting of October 28, 2015	Reduction in share capital by cancellation of treasury shares		(7,259,200)		(15)		(670)		-
December 31, 2015			1,305,696,759		2,611		4,039		-
During 2016	Capital increase by exercise of stock subscription options(b)		3,418,421		7		212		-
During 2016	Capital increase by issuance of restricted shares(c)		3,664,248		7		(7)		-
Board meeting of April 28, 2016	Reduction in share capital by cancellation of treasury shares		(22,561,090)		(45)		(1,655)		-
Board meeting of July 22, 2016	Capital increase reserved for employees		1,803,986		4		96		-
December 31, 2016			1,292,022,324		2,584		2,685		-
During 2017	Capital increase by exercise of stock subscription options(b)		3,764,646		8		215		-
During 2017	Capital increase by issuance of restricted shares(c)		3,394,574		7		(7)		-
Board meeting of April 27, 2017	Reduction in share capital by cancellation of treasury shares		(36,380,198)		(73)		(2,709)		-
Board meeting of July 28, 2017	Capital increase reserved for employees		1,621,098		3		103		-
Board meeting of December 14, 2017	Reduction in share capital by cancellation of treasury shares		(10,402,540)		(21)		(229)		(616)
December 31, 2017			1,254,019,904		2,508		58		(616)

(a) Amounts expressed in millions of euros.

(b) Shares issued on exercise of Sanofi stock subscription options.

(c) Shares vesting under restricted share plans and issued in the period.

For the disclosures about the management of capital required under IFRS 7, refer to Note B.27.

D.15.2. Restricted share plans

Restricted share plans are accounted for in accordance with the policies described in Note B.24.3. The principal characteristics of those plans are as follows:

	2017		2016		2015
Type of plan	Performance share plan		Performance share plan		Performance share plan
Date of Board meeting approving the plan		May 10, 2017		May 4, 2016		June 24, 2015
Total number of shares awarded		3,587,465		4,097,925		3,832,840
Of which plans subject to a 4-year service period		-		-		2,546,420
Fair value per share awarded(a)		-		-		79.52
Of which plans subject to a 3-year service period		3,587,465		4,097,925		1,286,420
Fair value per share awarded(a)		81.50		61.06		82.96
Fair value of plan at the date of grant (€ million)		292		250		309

(a) Quoted market price per share at the date of grant, adjusted for dividends expected during the vesting period.

The total expense recognized for all restricted share plans in the year ended December 31, 2017 was €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:

(€ million)	2017		2016		2015
Attributable to equity holders of Sanofi		(1,439)		1,787		701
Attributable to non-controlling interests		(32)		(18)		(22)
Total		(1,471)		1,769		679

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:

(€ million)	2017		2016		2015
Balance, beginning of period		973		45		(2,315)
Attributable to equity holders of Sanofi		992		67		(2,287)
Attributable to non-controlling interests		(19)		(22)		(28)
Actuarial gains/(losses):
∎   Actuarial gains/(losses) excluding investments accounted for using the equity method (see Note D.19.1.)		(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(b)		(118)		(128)		465
Available-for-sale financial assets:
∎   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
Cash flow hedges:
∎   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
Change in currency translation differences:
∎   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
Items subsequently reclassifiable to profit or loss		(2,563)		1,056		1,895
Balance, end of period		(1,708)		973		45
Attributable to equity holders of Sanofi		(1,674)		992		67
Attributable to non-controlling interests		(34)		(19)		(22)

(a) Includes the impact of changes in corporate income tax rates: €(127) million in 2017, €(37) million in 2016.

(b) Items not subsequently reclassifiable to profit or loss and attributable to the Animal Health business divested on January 1, 2017: €(3) million in 2016, €(6) million in 2015.

(c) Includes reclassifications to profit or loss: €(89) million in 2017, €447 million in 2016 and €(35) million in 2015.

(d) Includes reclassifications to profit or loss: €(23) million in 2017, €2 million in 2016 and €(3) million in 2015.

(e) Items subsequently reclassifiable to profit or loss and attributable to the Animal Health business divested on January 1, 2017: €(170) million in 2017 on divestment (comprising €(147) million of currency translation differences and €(23) million of cash flow hedges), €(51) million in 2016 and €(92) million in 2015.

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:

∎ dividend yield: 3.56% (2017 plan), 4.51% (2016 plan) and 3.64% (2015 plan);

∎ volatility of Sanofi shares, computed on a historical basis: 23.74% (2017 plan), 24.54% (2016 plan) and 27.52% (2015 plan);

∎ risk-free interest rate: 0.270% (2017 plan), 0.056% (2016 plan) and 0.65% (2015 plan); and

∎ plan maturity: 7 years (2017, 2016 and 2015 plans). The plan maturity is the average expected remaining life of the options, based on observations of historical employee behavior.

Fair values per option awarded are €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.

Source

Date of grant

Number of options granted

Start date of exercise period

Expiry date

Exercise price (€)

Number of options outstanding as of 12/31/2017

Synthélabo

03/30/1999

716,040

03/31/2004

03/30/2019

38.08

104,701

Total

104,701

Sanofi shares acquired to cover stock purchase option plans are deducted from shareholders’ equity. The exercise of all outstanding stock purchase options would increase shareholders’ equity by €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.

Source

Date of grant

Number of options granted

Start date of exercise period

Expiry date

Exercise price (€)

Number of options outstanding as of 12/31/2017

Sanofi-aventis

12/13/2007

11,988,975

12/14/2011

12/13/2017

62.33

-

Sanofi-aventis

03/02/2009

7,736,480

03/04/2013

03/01/2019

45.09

1,679,020

Sanofi-aventis

03/01/2010

8,121,355

03/03/2014

02/28/2020

54.12

2,726,260

Sanofi-aventis

03/09/2011

874,500

03/10/2015

03/09/2021

50.48

242,578

Sanofi

03/05/2012

814,050

03/06/2016

03/05/2022

56.44

528,001

Sanofi

03/05/2013

788,725

03/06/2017

03/05/2023

72.19

531,605

Sanofi

03/05/2014

1,009,250

03/06/2018

03/05/2024

73.48

863,815

Sanofi

06/24/2015

435,000

06/25/2019

06/24/2025

89.38

433,500

Sanofi

05/04/2016

402,750

05/05/2020

05/04/2026

75.90

401,500

Sanofi

05/10/2017

378,040

05/11/2021

05/10/2027

88.97

378,040

Total

7,784,319

The exercise of all outstanding stock subscription options would increase shareholders’ equity by approximately €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:

	Number of options		Weighted average exercise price per share (€)		Total (€ million)
Options outstanding at January 1, 2015		25,602,256		61.14		1,565
Options exercisable		22,225,731		60.79		1,351
Options granted		435,000		89.38		39
Options exercised		(9,033,607)		63.50		(573)
Options cancelled(a)		(179,634)		60.04		(11)
Options forfeited		(956,400)		70.38		(67)
Options outstanding at December 31, 2015		15,867,615		60.03		953
Options exercisable		13,028,045		57.56		750
Options granted		402,750		75.90		31
Options exercised		(3,441,429)		63.83		(220)
Options cancelled(a)		(161,863)		68.09		(11)
Options forfeited		(601,271)		67.00		(40)
Options outstanding at December 31, 2016		12,065,802		59.03		713
Options exercisable		9,646,903		54.67		527
Options granted		378,040		88.97		33
Options exercised		(3,796,788)		58.92		(224)
Options cancelled(a)		(130,312)		69.06		(9)
Options forfeited		(627,722)		62.33		(39)
Options outstanding at December 31, 2017		7,889,020		60.08		474
Options exercisable		5,812,165		52.93		308

(a) Mainly due to the grantees leaving Sanofi.

The table below provides summary information about options outstanding and exercisable as of December 31, 2017:

	Outstanding						Exercisable
Range of exercise prices per share	Number of options		Average residual life (years)		Weighted average exercise price per share (€)		Number of options		Weighted average exercise price per share (€)
From €30.00 to €40.00 per share		104,701		1.24		38.08		104,701		38.08
From €40.00 to €50.00 per share		1,679,020		1.16		45.09		1,679,020		45.09
From €50.00 to €60.00 per share		3,496,839		2.54		54.22		3,496,839		54.22
From €70.00 to €80.00 per share		1,796,920		6.37		73.64		531,605		72.19
From €80.00 to €90.00 per share		811,540		8.36		89.19		-		-
Total		7,889,020						5,812,165

D.15.9. Number of shares used to compute diluted earnings per share

Diluted earnings per share is computed using the number of shares outstanding plus stock options with dilutive effect and restricted shares.

(million)	2017		2016		2015
Average number of shares outstanding		1,256.9		1,286.6		1,306.2
Adjustment for stock options with dilutive effect		2.7		2.6		6.0
Adjustment for restricted shares		7.2		6.8		8.5
Average number of shares used to compute diluted earnings per share		1,266.8		1,296.0		1,320.7

In 2017, 0.8 million stock options were not taken into account in computing diluted earnings per share because they had no dilutive effect, compared with 2.4 million in 2016 and 0.4 million in 2015.

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Non-controlling Interests

12 Months Ended

Dec. 31, 2017

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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.

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Debt, Cash and Cash Equivalents

12 Months Ended

Dec. 31, 2017

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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:

(€ million)	2017		2016		2015
Long-term debt		14,326		16,815		13,118
Short-term debt and current portion of long-term debt		1,275		1,764		3,436
Interest rate and currency derivatives used to hedge debt		(57)		(100)		(156)
Total debt		15,544		18,479		16,398
Cash and cash equivalents		(10,315)		(10,273)		(9,148)
Interest rate and currency derivatives used to hedge cash and cash equivalents		-		-		4
Debt, net of cash and cash equivalents		5,229		8,206		7,254

“Debt, net of cash and cash equivalents” is a financial indicator used by management and investors to measure Sanofi’s overall net indebtedness.

Reconciliation of carrying amount to value on redemption

							Value on redemption
(€ million)	Carrying amount at December 31, 2017		Amortized cost		Adjustment to debt measured at fair value		December 31, 2017		December 31, 2016		December 31, 2015
Long-term debt		14,326		64		(81)		14,309		16,765		13,023
Short-term debt and current portion of long-term debt		1,275		-		-		1,275		1,764		3,422
Interest rate and currency derivatives used to hedge debt		(57)		-		50		(7)		(10)		(35)
Total debt		15,544		64		(31)		15,577		18,519		16,410
Cash and cash equivalents		(10,315)		-		-		(10,315)		(10,273)		(9,148)
Interest rate and currency derivatives used to hedge cash and cash equivalents		-		-		-		-	-			4
Debt, net of cash and cash equivalents		5,229		64		(31)		5,262		8,246		7,266

a) Principal financing transactions during the year

The table below shows the movement in total debt during the period:

			Cash flows from financing activities				Other cash flows		Non-cash items
(€ million)	December 31, 2016		Repayments		New borrowings				Currency translation differences		Reclassification from non- current to current		Other items(a)		December 31, 2017
Long-term debt		16,815		(8)		41		-		(300)		(2,187)		(35)		14,326
Short-term debt and current portion of long-term debt		1,764		(2,360)		-		30		(337)		2,187		(9)		1,275
Interest rate and currency derivatives used to hedge debt		(100)		-		-		-		-		-		43		(57)
Total debt		18,479		(2,368)		41		30		(637)		-		(1)		15,544

(a) Includes fair value remeasurements.

Sanofi did not carry out any bond issues in 2017.

Three borrowings were repaid:

∎ an April 2013 bond issue of $1.5 billion, which was due to mature on April 10, 2018 but was prepaid on September 5, 2017;

∎ a €428 million bank loan contracted on June 28, 2012, which was due to mature on December 15, 2017 but was prepaid on November 7, 2017; and

∎ a November 2012 fixed-rate bond issue of €750 million, which matured November 14, 2017.

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

	2017						2016						2015
(€ million)	Non- current		Current		Total		Non- current		Current		Total		Non- current		Current		Total
Bond issues		14,195		820		15,015		16,657		823		17,480		12,484		2,991		15,475
Other bank borrowings		81		203		284		61		715		776		477		176		653
Finance lease obligations		20		11		31		34		19		53		49		18		67
Other borrowings		13		4		17		13		4		17		13		9		22
Bank credit balances		-		237		237		-		203		203		-		228		228
Interest rate and currency derivatives used to hedge debt		(7)		-		(7)		(9)		(1)		(10)		(11)		(24)		(35)
Total debt		14,302		1,275		15,577		16,756		1,763		18,519		13,012		3,398		16,410
Cash and cash equivalents		-		(10,315)		(10,315)		-		(10,273)		(10,273)		-		(9,148)		(9,148)
Interest rate and currency derivatives used to hedge cash and cash equivalents		-		-		-		-		-		-		-		4		4
Debt, net of cash and cash equivalents		14,302		(9,040)		5,262		16,756		(8,510)		8,246		13,012		(5,746)		7,266

Bond issues carried out by Sanofi under the Euro Medium Term Note (EMTN) program comprise:

∎ October 2009 issue [ISIN: XS0456451771] of €800 million, maturing October 2019, bearing annual interest at 4.125%;

∎ September 2013 issue [ISIN: FR0011560333] of €1 billion, maturing September 2020, bearing annual interest at 1.875%;

∎ November 2013 issue [ISIN: FR0011625433] of €1 billion, maturing November 2023, bearing annual interest at 2.5%;

∎ September 2014 issue [ISIN: FR0012146751] of €750 million, maturing September 2018, bearing annual interest at 3-month Euribor +0.23%;

∎ September 2014 issue [ISIN: FR0012146777] of €1 billion, maturing March 2022, bearing annual interest at 1.125%;

∎ September 2014 issue [ISIN: FR0012146801] of €1.51 billion (including €260 million issued in November 2015), maturing September 2026, bearing annual interest at 1.75%;

∎ September 2015 issue [ISIN: FR0012969012] of €750 million, maturing March 2019, bearing annual interest at 3-month Euribor +0.30%;

∎ September 2015 issue [ISIN: FR0012969020] of €500 million, maturing September 2021, bearing annual interest at 0.875%;

∎ September 2015 issue [ISIN: FR0012969038] of €750 million, maturing September 2025, bearing annual interest at 1.5%;

∎ April 2016 issue [ISIN: FR0013143989] of €500 million, maturing April 2019, bearing annual interest at 0%;

∎ April 2016 issue [ISIN: FR0013143997] of €600 million, maturing April 2024, bearing annual interest at 0.625%;

∎ April 2016 issue [ISIN: FR0013144003] of €700 million, maturing April 2028, bearing annual interest at 1.125%;

∎ September 2016 issue [ISIN: FR0013201613] of €1,000 million, maturing January 2020, bearing annual interest at 0%;

∎ September 2016 issue [ISIN: FR0013201621] of €850 million, maturing September 2022, bearing annual interest at 0%;

∎ September 2016 issue [ISIN: FR0013201639] of €1,150 million, maturing January 2027, bearing annual interest at 0.5%.

Bond issues carried out by Sanofi under the public bond issue program (shelf registration statement) registered with the US Securities and Exchange Commission (SEC) comprise:

∎ March 2011 issue [ISIN: US80105NAG07] of $2 billion, maturing March 2021, bearing annual interest at 4%.

The US dollar issues have been retained in that currency and have not been swapped into euros.

The only outstanding bond issue carried out by Genzyme Corp. is the June 2010 issue [ISIN: US372917AS37] of $500 million, maturing June 2020, bearing annual interest at 5%.

The line “Other borrowings” mainly comprises:

∎ participating shares issued between 1983 and 1987, of which 82,698 remain outstanding, with a nominal amount of €13 million;

∎ Series A participating shares issued in 1989, of which 3,271 remain outstanding, with a nominal amount of €0.2 million.

In order to manage its liquidity needs for current operations, Sanofi has:

∎ a syndicated credit facility of €4 billion, drawable in euros and in US dollars, now due to expire on December 17, 2020 following the exercise of a second extension option in November 2015;

∎ a syndicated credit facility of €4 billion, drawable in euros and in US dollars, now due to expire on December 3, 2021 following the exercise of a second extension option in November 2016.

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

December 31, 2017			Current		Non-current
(€ million)	Total		2018		2019		2020		2021		2022		2023 and later
Bond issues		15,015		820		2,050		2,417		2,168		1,850		5,710
Other bank borrowings		284		203		8		25		4		4		40
Finance lease obligations		31		11		3		2		3		3		9
Other borrowings		17		4		-		-		-		-		13
Bank credit balances		237		237		-		-		-		-		-
Interest rate and currency derivatives used to hedge debt		(7)		-		(6)		(1)				-		-
Total debt		15,577		1,275		2,055		2,443		2,175		1,857		5,772
Cash and cash equivalents		(10,315)		(10,315)		-		-		-		-		-
Interest rate and currency derivatives used to hedge cash and cash equivalents		-		-		-		-		-		-		-
Debt, net of cash and cash equivalents		5,262		(9,040)		2,055		2,443		2,175		1,857		5,772

December 31, 2016			Current		Non-current
(€ million)	Total		2017		2018		2019		2020		2021		2022 and later
Bond issues		17,480		823		2,174		2,050		2,475		2,398		7,560
Other bank borrowings		776		715		16		8		14		-		23
Finance lease obligations		53		19		13		2		2		3		14
Other borrowings		17		4		-		-		-		-		13
Bank credit balances		203		203		-		-		-		-		-
Interest rate and currency derivatives used to hedge debt		(10)		(1)		(6)		(3)		-		-		-
Total debt		18,519		1,763		2,197		2,057		2,491		2,401		7,610
Cash and cash equivalents		(10,273)		(10,273)		-		-		-		-		-
Interest rate and currency derivatives used to hedge cash and cash equivalents		-		-		-		-		-		-		-
Debt, net of cash and cash equivalents		8,246		(8,510)		2,197		2,057		2,491		2,401		7,610

December 31, 2015			Current		Non-current
(€ million)	Total		2016		2017		2018		2019		2020		2021 and later
Bond issues		15,475		2,991		750		2,128		1,550		1,459		6,597
Other bank borrowings		653		176		438		8		12		14		5
Finance lease obligations		67		18		17		14		7		2		9
Other borrowings		22		9		-		-		-		-		13
Bank credit balances		228		228		-		-		-		-		-
Interest rate and currency derivatives used to hedge debt		(35)		(24)		(1)		(1)		(6)		(3)		-
Total debt		16,410		3,398		1,204		2,149		1,563		1,472		6,624
Cash and cash equivalents		(9,148)		(9,148)		-		-		-		-		-
Interest rate and currency derivatives used to hedge cash and cash equivalents		4		4		-		-		-		-		-
Debt, net of cash and cash equivalents		7,266		(5,746)		1,204		2,149		1,563		1,472		6,624

As of December 31, 2017, the main undrawn confirmed general-purpose credit facilities at holding company level amounted to €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:

(€ million)	Total		2018		2019		2020		2021		2022		2023 and later
Fixed-rate debt		13,513		75		1,294		2,416		2,168		1,850		5,710
of which euro		11,418
of which US dollar		2,095
% fixed-rate		87%
Floating-rate debt (maturity based on contractual repricing date)		2,064		2,064		-		-		-		-		-
of which euro		1,550
of which US dollar		45
% floating-rate		13%
Debt		15,577		2,139		1,294		2,416		2,168		1,850		5,710
Cash and cash equivalents		(10,315)		(10,315)
of which euro		(8,205)
of which US dollar		(1,653)
% floating-rate		100%
Debt, net of cash and cash equivalents		5,262		(8,176)		1,294		2,416		2,168		1,850		5,710

Sanofi manages its net debt in two currencies: the euro and the US dollar. The floating-rate 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:

(€ million)	Total		2018		2019		2020		2021		2022		2023 and later
Fixed-rate debt		9,746		75		(256)		1,999		2,168		50		5,710
of which euro		8,068
of which US dollar		1,678
% fixed-rate		63%
Floating-rate debt (maturity based on contractual repricing date)		5,831		5,831		-		-		-		-		-
of which euro		4,900
of which US dollar		462
% floating-rate		37%
Debt		15,577		5,906		(256)		1,999		2,168		50		5,710
Cash and cash equivalents		(10,315)		(10,315)
of which euro		(8,205)
of which US dollar		(1,653)
% floating-rate		100%
Debt, net of cash and cash equivalents		5,262		(4,409)		(256)		1,999		2,168		50		5,710

The table below shows the fixed/floating rate split of debt, net of cash and cash equivalents at value on redemption after taking account of derivative instruments as of December 31, 2016 and 2015:

(€ million)	2016		%		2015%
Fixed-rate debt		13,651		74%		10,435	64%
Floating-rate debt		4,868		26%		5,975	36%
Debt		18,519		100%		16,410	100%
Cash and cash equivalents		(10,273)				(9,144)
Debt, net of cash and cash equivalents		8,246				7,266

The weighted average interest rate on debt as of December 31, 2017 was 1.7% before derivative instruments and 1.4% after derivative instruments. All cash and cash equivalents were invested at an average rate of 0.3% as of December 31, 2017.

The projected full-year sensitivity of debt, net of cash and cash equivalents to interest rate fluctuations for 2018 is as follows:

Change in euro and US dollar short-term interest rates	Impact on pre-tax net income (€ million)		Impact on pre-tax income/(expense) recognized directly in equity (€ million)
+100 bp		45		-
+25 bp		11		-
-25 bp		(11)		-
-100 bp		(45)		-

e) Debt by currency, at value on redemption

The table below shows debt, net of cash and cash equivalents by currency at December 31, 2017, before and after derivative instruments contracted to convert third party debt into the functional currency of the borrowing entity:

(€ million)	Before derivative instruments		After derivative instruments
Euro		4,763		4,763
US dollar		487		487
Indian rupee		(150)		(150)
Saudi riyal		102		102
Algerian dinar		138		138
Other currencies		(78)		(78)
Debt, net of cash and cash equivalents		5,262		5,262

The table below shows debt, net of cash and cash equivalents by currency at December 31, 2016 and 2015, after derivative instruments contracted to convert third party debt into the functional currency of the borrowing entity:

(€ million)	2016		2015
Euro		6,460		3,356
US dollar		2,565		4,221
Other currencies		(779)		(311)
Debt, net of cash and cash equivalents		8,246		7,266

f) Market value of debt

The market value of debt, net of cash and cash equivalents and of derivatives and excluding accrued interest, was €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:

December 31, 2017			Payments due by period
(€ million)	Total		2018		2019		2020		2021		2022		2023 and later
Debt		16,682		1,441		2,301		2,650		2,307		1,950		6,033
principal		15,509		1,201		2,062		2,444		2,175		1,857		5,770
interest(a)		1,173		240		239		206		132		93		263
Net cash flows related to derivative instruments		(51)		(38)		(32)		1		8		10		-
Total		16,631		1,403		2,269		2,651		2,315		1,960		6,033

(a) Interest flows are estimated on the basis of forward interest rates applicable as of December 31, 2017.

Future contractual cash flows are shown on the basis of the carrying amount in the balance sheet at the reporting date, without reference to any subsequent management decision that might materially alter the structure of Sanofi’s debt or its hedging policy.

The tables below show the amount of future undiscounted contractual cash flows (principal and interest) relating to debt and to derivative instruments designated as hedges of debt as of December 31, 2016 and 2015:

December 31, 2016			Payments due by period
(€ million)	Total		2017		2018		2019		2020		2021		2022 and later
Debt		19,937		1,951		2,477		2,304		2,708		2,537		7,960
Principal		18,451		1,678		2,217		2,054		2,491		2,401		7,610
Interest(a)		1,486		273		260		250		217		136		350
Net cash flows related to derivative instruments		(104)		(42)		(33)		(29)		(2)		1		1
Total		19,833		1,909		2,444		2,275		2,706		2,538		7,961

(a) Interest flows are estimated on the basis of forward interest rates applicable as of December 31, 2016.

December 31, 2015			Payments due by period
(€ million)	Total		2016		2017		2018		2019		2020		2021 and later
Debt		17,960		3,653		1,471		2,389		1,794		1,668		6,985
Principal		16,325		3,308		1,215		2,146		1,564		1,472		6,620
Interest(a)		1,635		345		256		243		230		196		365
Net cash flows related to derivative instruments		(165)		(78)		(38)		(26)		(21)		(2)		-
Total		17,795		3,575		1,433		2,363		1,773		1,666		6,985

(a) Interest flows are estimated on the basis of forward interest rates applicable as of December 31, 2015.

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Liabilities related to business combinations and to non-controllinginterests

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Liabilities related to business combinations and to non-controllinginterests

D.18. Liabilities related to business combinations and to non-controlling 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:

(€ million)	Liabilities related to non-controlling interests(a)		CVRs issued in connection with the acquisition of Genzyme(b)		Bayer contingent consideration arising from the acquisition of Genzyme		MSD contingent consideration (European vaccines business)		Other		Total(d)
Balance at January 1, 2015		178		154		896		-		36		1,264
Payments made		-		-		(63)		-		(7)		(70)
Fair value remeasurements through profit or loss: (gain)/loss (including unwinding of discount)(c)		-		(143)		104		-		(14)		(53)
Other movements		(5)		-		-		-		(11)		(16)
Currency translation differences		8		13		103		-		2		126
Balance at December 31, 2015		181		24		1,040		-		6		1,251
New business combinations		-		-		-		354		-		354
Payments made		-		-		(137)		-		(3)		(140)
Fair value remeasurements through profit or loss: (gain)/loss (including unwinding of discount)(c)		-		58		78		-		(1)		135
Other movements		(58)		-		-		-		-		(58)
Currency translation differences		-		3		32		-		(1)		34
Balance at December 31, 2016		123		85		1,013		354		1		1,576
New business combinations(e)		-		-		-		-		85		85
Payments made		-		-		(165)		-		(61)		(226)
Fair value remeasurements through profit or loss: (gain)/loss (including unwinding of discount)(c)		-		1		(28)		71		(1)		43
Other movements		(28)		-		-		-		57		29
Currency translation differences		(3)		(11)		(119)		(5)		-		(138)
Balance at December 31, 2017		92		75		701		420		81		1,369

(a) Includes put options granted to non-controlling interests and commitment to future buyout of non-controlling interests held by BMS.

(b) Based on the quoted market price per CVR of $0.38 as of December 31, 2017 and 2016, and $0.11 as of December 31, 2015.

(c) Amounts reported within the income statement line item Fair value remeasurement of contingent consideration, and mainly comprising unrealized gains and losses.

(d) Portion due after more than one year: €1,026 million as of December 31, 2017 (€1,378 million as of December 31, 2016 and €1,121 million as of December 31, 2015); portion due within less than one year: €343 million as of December 31, 2017 (€198 million as of December 31, 2016 and €130 million as of December 31, 2015).

(e) Two potential payments of €42 million each relating to the acquisition of Protein Sciences, which are contingent on the attainment of specified performance criteria subsequent to the acquisition date.

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:

∎ a percentage of sales of alemtuzumab up to a maximum of $1,250 million or over a maximum period of ten years, whichever is achieved first; and

∎ milestone payments based on specified levels of worldwide sales of alemtuzumab beginning in 2021, unless Genzyme exercises its right to buy out those milestone payments by making a one-time payment not exceeding $900 million.

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:

December 31, 2017			Payments due by period
(€ million)	Total		Less than 1 year		From 1 to 3 years		From 3 to 5 years		More than 5 years
Commitments relating to contingent consideration in connection with business combinations(a) and buyouts of non-controlling interests(b)		4,293		354		2,630		1,069		240

(a) Includes €1.4 billion for the Bayer contingent consideration (versus €1.8 billion as of December 31, 2016 and €1.9 billion as of December 31, 2015) and €2.2 billion for the CVRs issued in connection with the acquisition of Genzyme (versus €2.5 billion as of December 31, 2016 and €2.6 billion as of December 31, 2015).

(b) This line does not include put options granted to 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

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Provisions and other liabilities

D.19. Provisions and other liabilities

Non-current provisions and other non-current liabilities break down as follows:

(€ million)	Provisions for pensions & other post- employment benefits (D.19.1.)			Provisions for other long-term benefits		Restructuring provisions (D.19.2.)		Other provisions (D.19.3.)			Other non-current liabilities (D.19.4.)		Total
Balance at January 1, 2015		4,873			650		835		3,076			144		9,578
Changes in scope of consolidation		-			-		-		13			-		13
Increases in provisions and other liabilities		290	(a)		108		265		475	(b)		114		1,252
Provisions utilized		(366)	(a)		(73)		(16)		(130)			-		(585)
Reversals of unutilized provisions		(39)	(a)		(7)		(12)		(256)	(c)		(1)		(315)
Transfers		43			3		(317)		(57)			-		(328)
Reclassification of the Animal Health business(e)		(76)			(34)		(3)		(34)			(2)		(149)
Net interest related to employee benefits, and unwinding of discount		109			5		5		37			2		158
Unrealized gains and losses		-			-		-		-			5		5
Currency translation differences		124			26		5		22			13		190
Actuarial gains and losses on defined-benefit plans(d)		(650)			-		-		-			-		(650)
Balance at December 31, 2015		4,308			678		762		3,146			275		9,169
Increases in provisions and other liabilities		220	(a)		130		475		402	(b)		-		1,227
Provisions utilized		(294)	(a)		(86)		(7)		(195)			(2)		(584)
Reversals of unutilized provisions		1	(a)		(11)		(39)		(458)	(c)		-		(507)
Transfers		(85)			(6)		(450)		(182)			(67)		(790)
Net interest related to employee benefits, and unwinding of discount		108			6		4		29			2		149
Currency translation differences		10			9		(1)		35			8		61
Actuarial gains and losses on defined-benefit plans(d)		109			-		-		-			-		109
Balance at December 31, 2016		4,377			720		744		2,777			216		8,834
Changes in scope of consolidation		86			3		-		13			3		105
Increases in provisions and other liabilities		269	(a)		163		105		680	(b)		866		2,083
Provisions utilized		(732)	(a)		(97)		(7)		(137)			(8)		(981)
Reversals of unutilized provisions		(18)	(a)		(5)		(42)		(308)	(c)		-		(373)
Transfers		16			1		(282)		(58)			(7)		(330)
Net interest related to employee benefits, and unwinding of discount		87			4		3		27			4		125
Unrealized gains and losses		-			-		-		1			5		6
Currency translation differences		(156)			(39)		(7)		(114)			(29)		(345)
Actuarial gains and losses on defined-benefit plans(d)		30			-		-		-			-		30
Balance at December 31, 2017		3,959			750		514		2,881			1,050		9,154

(a) In the case of “Provisions for pensions and other post-employment benefits”, the “Increases in provisions and other liabilities” line corresponds to rights vesting in employees during the period, and past service cost; the “Provisions utilized” line corresponds to contributions paid into pension funds, and plan settlements; and the “Reversals of unutilized provisions” line corresponds to plan curtailments.

(b) Amounts charged during the period mainly comprise provisions to cover tax exposures in various countries, and changes to estimates of future expenditures on environmental risks.

(c) These reversals relate mainly to provisions for tax exposures, reversed either because (i) the statute of limitations deadline was reached during the reporting period or (ii) proceedings with tax authorities in various countries were resolved during the period with a more favorable outcome than initially anticipated.

(d) Amounts recognized in Other comprehensive income (see Note D.15.7.).

(e) This line comprises the relevant liabilities of the Animal Health business, reclassified as of December 31, 2015 to Liabilities related to assets held for sale or exchange, in accordance with IFRS 5 (see Notes D.1. and D.36.).

Other current liabilities are described in Note D.19.5.

D.19.1. Provisions for pensions and other post-employment benefits

Sanofi offers its employees pension plans and other post-employment benefit plans. The specific features of the plans (benefit formulas, fund investment policy and fund assets held) vary depending on the applicable laws and regulations in each country where the employees work. These employee benefits are accounted for in accordance with the revised IAS 19 (see Note B.23.).

Sanofi’s pension obligations in four major countries represented nearly 90% of the total value of the defined-benefit obligation and nearly 89% of the total value of plan assets as of December 31, 2017. The features of the principal defined-benefit plans in each of those four countries are described below.

France

Lump-sum 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:

∎ “Qualified” plans within the meaning of the Employee Retirement Income Security Act of 1974 (ERISA), which provide guaranteed benefits to eligible employees during retirement, and in the event of death or disability. Employees can elect to receive a reduced annuity, in exchange for an annuity to be paid in the event of their death to a person designated by them. An annuity is also granted under the plan if the employee dies before retirement age. Eligible employees do not pay any contributions. These plans are closed to new entrants, and the vesting of rights for future service periods is partially frozen. They represent around 65% of Sanofi’s total obligation in the United States.

∎ “Non-qualified” plans within the meaning of ERISA provide top-up retirement benefits to some eligible employees depending on the employee’s level of responsibility and subject to a salary cap. These plans represent approximately 9% of Sanofi’s total obligation in the United States.

Healthcare cover and life insurance

Sanofi companies provide some eligible employees with healthcare cover and life insurance during the retirement period (the company’s contributions are capped at a specified level). This plan represents approximately 26% of Sanofi’s total obligation in the United States.

United Kingdom

Defined-benefit pension plans

Sanofi operates a number of pension plans in the United Kingdom that reflect past acquisitions. The two most significant arrangements are the Sanofi plan and the Genzyme Limited plan; both are defined-benefit plans, and both have been closed since October 1, 2015. With effect from that date, employees can no longer pay into these plans. The Genzyme Limited plan was merged with the Sanofi plan effective January 1, 2017.

Under these defined-benefit plans, an annuity is paid from the retirement date. This annuity is calculated on the basis of the employee’s length of service as of September 30, 2015, and of the employee’s final salary (or salary on the date he or she leaves Sanofi).

The rates used for the vesting of rights vary from member to member. For most members, rights vest at the rate of 1.25% or 1.50% of final salary for each qualifying year of service giving entitlement. The notional retirement age varies according to the category to which the member belongs, but in most cases retirement is at age 65. Members may choose to retire before or after the notional retirement age (60 years), in which case the amount of the annual pension is adjusted to reflect the revised estimate of the length of the retirement phase. Pensions are usually indexed to the Retail Price Index (RPI). Members paid a fixed-percentage contribution into their pension plan (the percentage varied according to the employee category), and the employer topped up the contribution to the required amount. These plans represent approximately 99% of Sanofi’s total obligation in the United Kingdom.

For service periods subsequent to October 1, 2015, employees belong to a new defined-contribution plan.

Actuarial assumptions used to measure Sanofi’s obligations

Actuarial valuations of Sanofi’s benefit obligations were computed by management with assistance from external actuaries as of December 31, 2017, 2016 and 2015.

Those calculations were based on the following financial and demographic assumptions:

	2017									2016									2015
	France		Germany			USA		UK		France		Germany			USA		UK		France		Germany			USA		UK
Discount rate(a)/(b)		0.75% or 1.25%		0.75% or 1.25%			3.50%		2.50%		1.00% or 1.50%		1.00% or 1.50%			4.00%		2.75%		1.50% or 2.25%		1.50% or 2.25%			4.00%		4.00%
General inflation rate(c)		1.50%		1.50%			2.00%		3.10%		1.50%		1.50%			2.00%		3.15%		1.75%		1.75%			2.25%		3.15%
Pension benefit indexation		1.25% to 2.25%		1.50%			-		3.10%		1.25% to 2.25%		1.75%			-		3.15%		1.25% to 2.25%		1.75%			-		3.15%
Healthcare cost inflation rate		2.00%		-	(d)		5.81%		1.50%		2.00%		-	(d)		5.96%		1.50%		2.00%		-	(d)		6.10%		1.50%
Retirement age		62 to 67		62			55 to 70		60		62 to 67		62			55 to 70		60		62 to 67		62			55 to 70		60
Mortality table		TGH/ TGF 05		Heubeck RT 2005 G			RP2014 G. Scale MP2017		SAPS S2		TGH/ TGF 05		Heubeck RT 2005 G			RP2014 G. Scale MP2016		SAPS S2		TGH/ TGF 05		Heubeck RT 2005 G			RP2014 G. Scale MP2015		SAPS S2

(a) The discount rates used were based on market rates for high quality corporate bonds with a duration close to that of the expected benefit payments under the plans. The benchmarks used to determine discount rates were the same in 2017, 2016 and 2015.

(b) The rate depends on the duration of the plan (7 to 10 years and more than 10 years, respectively).

(c) Inflation for the euro zone is determined using the average break-even inflation rate of French and German government bonds, by reference to the duration of the principal plans.

(d) No post-employment healthcare benefits are provided in Germany.

Weighted average duration of obligation for pensions and other long-term benefits in principal countries

The table below shows the duration of Sanofi’s obligations in the principal countries:

	2017								2016								2015
(years)	France		Germany		USA		UK		France		Germany		USA		UK		France		Germany		USA		UK
Weighted average duration		13		15		14		17		13		14		13		17		13		14		14		17

Sensitivity analysis

The table below shows the sensitivity of Sanofi’s obligations for pensions and other post-employment benefits to changes in key actuarial assumptions:

(€ million)	Pensions and other post-employment benefits, by principal country
Measurement of defined-benefit obligation	Change in assumption		France		Germany		USA		UK
Discount rate		-0.50%		+156		+254		+190		+266
General inflation rate		+0.50%		+34		+343		+2		+206
Pension benefits indexation		+0.50%		+88		+332		+2		+147
Healthcare cost inflation rate		+0.50%		-		-		+35		-
Mortality table		+1 year		+59		+93		+71		+115

The table below reconciles the net obligation in respect of Sanofi’s pension and other post-employment benefit plans with the amounts recognized in the consolidated financial statements:

	Pensions and other post-employment benefits
(€ million)	2017		2016		2015
Measurement of the obligation:
Beginning of period		13,088		12,825		13,302
Reclassification of the Animal Health business(a)		-		-		(266)
Service cost		233		216		262
Interest cost		293		359		362
Actuarial losses/(gains) due to changes in demographic assumptions		(74)		(71)		(37)
Actuarial losses/(gains) due to changes in financial assumptions		543		928		(679)
Actuarial losses/(gains) due to experience adjustments		61		(18)		(13)
Plan amendments		33		(2)		18
Plan curtailments		2		(52)		(39)
Plan settlements specified in the terms of the plan		(108)		(49)		(61)
Plan settlements not specified in the terms of the plan		(90)		(254)		(6)
Benefits paid		(574)		(531)		(556)
Changes in scope of consolidation and transfers		145		71		36
Currency translation differences		(540)		(334)		502
Obligation at end of period		13,012		13,088		12,825
Fair value of plan assets:
Beginning of period		8,741		8,566		8,488
Reclassification of the Animal Health business(a)		-		-		(208)
Interest income on plan assets		206		251		254
Difference between actual return and interest income on plan assets		501		730		(79)
Administration costs		(9)		(9)		(13)
Plan settlements specified in the terms of the plan		(109)		(49)		(61)
Plan settlements not specified in the terms of the plan		(70)		(256)		(6)
Contributions from plan members		6		3		4
Employer’s contributions		582		168		225
Benefits paid		(424)		(405)		(415)
Changes in scope of consolidation and transfers		66		86		-
Currency translation differences		(384)		(344)		377
Fair value of plan assets at end of period		9,106		8,741		8,566
Net amount shown in the balance sheet:
Net obligation		3,906		4,347		4,259
Net amount shown in the balance sheet at end of period		3,906		4,347		4,259

	Pensions and other post-employment benefits
(€ million)	2017		2016		2015
Amounts recognized in the balance sheet:
Pre-funded obligations (see Note D.7.)		(53)		(30)		(49)
Obligations provided for		3,959		4,377		4,308
Net amount recognized at end of period		3,906		4,347		4,259
Benefit cost for the period:
Service cost		233		216		262
Past service cost		33		(2)		18
Net interest (income)/cost		87		108		108
(Gains)/losses on plan settlements not specified in the terms of the plan		(20)		2		-
Actuarial (gains)/losses on plan curtailments		2		(52)		(39)
Contributions from plan members		(6)		(3)		(4)
Administration costs and taxes paid during the period		9		9		13
Expense recognized directly in profit or loss		338		278		358
Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses)		30		109		(650)
Expense/(gain) for the period		368		387		(292)

(a) This line comprises the relevant assets and liabilities of the Animal Health business, reclassified as of December 31, 2015 to Assets held for sale or exchange and Liabilities related to assets held for sale or exchange, respectively, in accordance with IFRS 5 (see Notes D.1. and D.36.).

The tables below show Sanofi’s net liability in respect of pension plans and other post-employment benefits by geographical region:

December 31, 2017	Pensions and other post-employment benefits by geographical region
(€ million)	France		Germany		USA		UK		Other		Total
Measurement of obligation		2,363		3,611		2,699		3,032		1,307		13,012
Fair value of plan assets		991		2,390		1,775		2,926		1,024		9,106
Net amount shown in the balance sheet at end of period		1,372		1,221		924		106		283		3,906

December 31, 2016	Pensions and other post-employment benefits by geographical region
(€ million)	France		Germany		USA		UK		Other		Total
Measurement of obligation		2,361		3,535		2,874		3,065		1,253		13,088
Fair value of plan assets		857		2,304		1,760		2,866		954		8,741
Net amount shown in the balance sheet at end of period		1,504		1,231		1,114		199		299		4,347

December 31, 2015	Pensions and other post-employment benefits by geographical region
(€ million)	France		Germany		USA		UK		Other		Total
Measurement of obligation		2,270		3,502		2,986		2,948		1,119		12,825
Fair value of plan assets		841		2,216		1,806		2,852		851		8,566
Net amount shown in the balance sheet at end of period		1,429		1,286		1,180		96		268		4,259

The table below shows the fair value of plan assets relating to Sanofi’s pension and other post-employment plans, split by asset category:

	2017		2016		2015
Securities quoted in an active market		98.0%		98.2%		97.0%
Cash and cash equivalents		2.2%		2.4%		2.7%
Equity instruments		25.2%		35.2%		35.6%
Bonds and similar instruments		64.1%		54.3%		52.8%
Real estate		3.3%		3.8%		3.5%
Derivatives		0.1%		(0.1)%		0.3%
Commodities		0.8%		1.3%		1.0%
Other		2.3%		1.3%		1.1%
Other securities		2.0%		1.8%		3.0%
Hedge funds		0.1%		-		1.5%
Insurance policies		1.9%		1.8%		1.5%
Total		100.0%		100.0%		100.0%

Sanofi has a long-term objective of maintaining or increasing the extent to which its pension obligations are covered by assets. To this end, Sanofi uses an asset-liability management strategy, matching plan assets to its pension obligations. This policy aims to ensure the best fit between the assets held on the one hand, and the associated liabilities and expected future payments to plan members on the other. To meet this aim, Sanofi operates a risk monitoring and management strategy (mainly focused on interest rate risk and inflation risk), while investing a growing proportion of assets in high-quality bonds with comparable maturities to those of the underlying obligations.

The tables below show the service cost for Sanofi’s pension and other post-employment benefit plans, by geographical region:

(€ million)	Pensions and other  post-employment benefits by geographical region
Service cost for 2017	France		Germany		USA		UK		Other		Total
Current service cost		74		50		53		-		56		233
Past service cost		-		-		36		-		(3)		33
Net interest cost/(income) including administration costs and taxes paid during the period		22		16		40		8		10		96
(Gains)/losses on plan settlements not specified in the terms of the plan		(17)		-		-		-		(3)		(20)
Actuarial (gains)/losses on plan curtailments		(6)		7		8		-		(7)		2
Contributions from plan members		-		-		-		-		(6)		(6)
Expense recognized directly in profit or loss		73		73		137		8		47		338
Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses)		35		(33)		77		(48)		(1)		30
Expense/(gain) for the period		108		40		214		(40)		46		368

(€ million)	Pensions and other post-employment benefits by geographical region
Service cost for 2016	France		Germany		USA		UK		Other		Total
Current service cost		70		42		62		-		42		216
Past service cost		-		-		-		-		(2)		(2)
Net interest cost/(income) including administration costs and taxes paid during the period		30		23		48		6		10		117
(Gains)/losses on plan settlements not specified in the terms of the plan		-		-		(2)		-		4		2
Actuarial (gains)/losses on plan curtailments		(51)		2		-		-		(3)		(52)
Contributions from plan members		-		-		-		-		(3)		(3)
Expense recognized directly in profit or loss		49		67		108		6		48		278
Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses)		70		1		(161)		165		34		109
Expense/(gain) for the period		119		68		(53)		171		82		387

(€ million)	Pensions and other post-employment benefits by geographical region
Service cost for 2015	France		Germany		USA		UK		Other		Total
Current service cost		78		47		74		14		49		262
Past service cost		16		1		-		-		1		18
Net interest cost/(income) including administration costs and taxes paid during the period		28		23		44		13		13		121
(Gains)/losses on plan settlements not specified in the terms of the plan		-		-		-		-		-		-
Actuarial (gains)/losses on plan curtailments		(38)		-		-		-		(1)		(39)
Contributions from plan members		-		-		-		(1)		(3)		(4)
Expense recognized directly in profit or loss		84		71		118		26		59		358
Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses)		(235)		(211)		(30)		(144)		(30)		(650)
Expense/(gain) for the period		(151)		(140)		88		(118)		29		(292)

There were no significant events affecting Sanofi’s pension and other post-employment benefit plans during 2017.

An analysis of the “Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses)” line in the preceding tables is set forth below:

	2017								2016								2015
(€ million)	France		Germany		USA		UK		France		Germany		USA		UK		France		Germany		USA		UK
Actuarial gains/(losses) arising during the period(a)		(35)		33		(77)		48		(70)		(1)		161		(165)		235		210		30		144
Comprising:
Gains/(losses) on experience adjustments(b)		35		159		76		114		58		149		77		442		26		16		(116)		9
Gains/(losses) on demographic assumptions		-		-		20		53		(6)		-		79		-		10		-		46		(21)
Gains/(losses) on financial assumptions		(70)		(126)		(173)		(119)		(122)		(150)		5		(607)		199		194		100		156

(a) Gains and losses arising from changes in assumptions are due primarily to changes in the discount rate.

(b) Experience adjustments are mainly due to the effect of trends in the financial markets on plan assets.

The net pre-tax 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:

(€ million)	2017		2016		2015
Cost of sales		63		60		73
Research and development expenses		48		48		58
Selling and general expenses		95		113		132
Restructuring costs		45		(51)		(13)
Financial expenses		87		108		108
Total		338		278		358

The estimated amounts of employer’s contributions to plan assets in 2018 are as follows:

(€ million)	France		Germany		USA		UK		Other		Total
Employer’s contributions in 2018 (estimate):
2018		5		36		-		45		50		136

The table below shows the expected timing of benefit payments under pension and other post-employment benefit plans for the next ten years:

(€ million)	France		Germany		USA		UK		Other		Total
Estimated future benefit payments:
2018		108		202		181		127		58		676
2019		90		208		134		131		54		617
2020		111		213		137		135		58		654
2021		118		217		140		139		59		673
2022		91		223		135		143		60		652
2023 to 2027		661		1,128		690		784		357		3,620

The table below shows estimates as of December 31, 2017 for the timing of future payments in respect of unfunded pension and other post-employment benefit plans:

			Payments due by period
(€ million)	Total		Less than 1 year		1 to 3 years		3 to 5 years		More than 5 years
Estimated payments		1,097		56		108		116		817

D.19.2. Restructuring provisions

The table below shows movements in restructuring provisions classified in non-current and current liabilities:

(€ million)	2017		2016		2015
Balance, beginning of period		1,420		1,343		1,399
of which:
∎   Classified in non-current liabilities		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(a)		-		-		(12)
Unwinding of discount		3		4		6
Currency translation differences		(25)		9		12
Balance, end of period		1,086		1,420		1,343
Including:
∎   Classified in non-current liabilities		514		744		762
∎   Classified in current liabilities		572		676		581

(a) This line comprises the restructuring provisions of the Animal Health business, reclassified to Liabilities related to assets held for sale or exchange as of December 31, 2015 (see Notes D.1. and D.36.).

Provisions for employee termination benefits as of December 31, 2017 amounted to €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:

December 31, 2017			Benefit payments by period
(€ million)	Total		Less than 1 year		1 to 3 years		3 to 5 years		More than 5 years
Employee termination benefits
∎   France		588		257		281		49		1
∎   Other countries		274		197		70		5		2
Total		862		454		351		54		3

December 31, 2016			Benefit payments by period
(€ million)	Total		Less than 1 year		1 to 3 years		3 to 5 years		More than 5 years
Employee termination benefits
∎   France		933		374		413		142		4
∎   Other countries		226		182		35		4		5
Total		1,159		556		448		146		9

December 31, 2015			Benefit payments by period
(€ million)	Total		Less than 1 year		1 to 3 years		3 to 5 years		More than 5 years
Employee termination benefits
∎   France		772		286		351		120		15
∎   Other countries		258		197		56		2		3
Total		1,030		483		407		122		18

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.

(€ million)	2017		2016		2015
Tax exposures		1,031		1,077		1,530
Environmental risks and remediation		686		732		708
Product liability risks, litigation and other		1,164		968		908
Total		2,881		2,777		3,146

Provisions for tax exposures are recorded when Sanofi is exposed to a probable risk resulting from a tax position adopted by the company or a subsidiary, and the risk has been quantified at the end of the reporting period, in accordance with the principles described in Note B.22.

Provisions for environmental risks and remediation mainly relate to contingencies arising from business divestitures.

Identified environmental risks are covered by provisions estimated on the basis of the costs Sanofi believes it will be obliged to meet over a period not exceeding (other than in exceptional cases) 30 years. Sanofi expects that €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:

(€ million)	2017			2016		2015
Taxes payable		1,180	(a)		1,134		1,044
Employee-related liabilities		1,922			1,967		1,920
Restructuring provisions (see Note D.19.2.)		572			676		581
Interest rate derivatives (see Note D.20.)		-			2		4
Currency derivatives (see Note D.20.)		58			130		78
Amounts payable for acquisitions of non-current assets		387			451		684
Other current liabilities		5,087			5,815		5,131
Total		9,206			10,175		9,442

(a) See note D.19.4.

“Other current liabilities” includes in particular the current portion of provisions for litigation, sales returns and other risks; amounts due to investments accounted for using the equity method (see Note D.6.); and amounts due to governmental agencies and healthcare authorities (see Note D.23.).

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Derivative financial instruments and market risks

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Derivative financial instruments and market risks

D.20. Derivative financial instruments and market risks

The table below shows the fair value of derivative instruments as of December 31, 2017, 2016 and 2015:

(€ million)	Non-current assets		Current assets		Total assets		Non-current liabilities		Current liabilities		Total liabilities		Fair value at Dec. 31, 2017 (net)		Fair value at Dec. 31, 2016 (net)		Fair value at Dec. 31, 2015 (net)
Currency derivatives		-		133		133		(4)		(58)		(62)		71		(22)		(19)
operating		-		28		28		-		(25)		(25)		3		(25)		16
financial		-		105		105		(4)		(33)		(37)		68		3		(35)
Interest rate derivatives		63		-		63		(12)		-		(12)		51		100		152
Total		63		133		196		(16)		(58)		(74)		122		78		133

Objectives of the use of derivative financial instruments

Sanofi uses derivative instruments to manage operating exposure to movements in exchange rates, and financial exposure to movements in interest rates and exchange rates (where the debt or receivable is not contracted in the functional currency of the borrower or lender entity). On occasion, Sanofi uses equity derivatives in connection with the management of its portfolio of equity investments.

Sanofi performs periodic reviews of its transactions and contractual agreements in order to identify any embedded derivatives, which are accounted for separately from the host contract in accordance with IAS 39. Sanofi had no material embedded derivatives as of December 31, 2017, 2016 or 2015.

Counterparty risk

As of December 31, 2017, all currency and interest rate hedges were contracted with leading banks, and no single counterparty accounted for more than 16% of the notional amount of Sanofi’s overall currency and interest rate positions.

a) Currency derivatives used to manage operating risk exposures

Sanofi operates a foreign exchange risk hedging policy to reduce the exposure of operating income to exchange rate movements. This policy involves regular assessments of Sanofi’s worldwide foreign currency exposure, based on foreign currency transactions carried out by the parent company and its subsidiaries. Those transactions mainly comprise sales, purchases, research costs, co-marketing 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:

December 31, 2017					Of which derivatives designated as cash flow hedges						Of which derivatives not eligible for hedge accounting
(€ million)	Notional amount		Fair value		Notional amount		Fair value		Of which recognized in equity		Notional amount		Fair value
Forward currency sales		3,592		11		-		-		-		3,592		11
of which US dollar		1,043		15		-		-		-		1,043		15
of which Singapore dollar		870		1		-		-		-		870		1
of which Chinese yuan renminbi		327		(1)		-		-		-		327		(1)
of which Japanese yen		248		1		-		-		-		248		1
of which Saudi riyal		144		2		-		-		-		144		2
Forward currency purchases		1,649		(8)		-		-		-		1,649		(8)
of which Japanese yen		373		(3)		-		-		-		373		(3)
of which Singapore dollar		360		(4)		-		-		-		360		(4)
of which US dollar		205		(2)		-		-		-		205		(2)
of which Chinese yuan renminbi		196		-		-		-		-		196		-
of which Hungarian forint		81		1		-		-		-		81		1
Total		5,241		3		-		-		-		5,241		3

The above positions mainly hedge future material foreign-currency 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:

December 31, 2016					Of which derivatives designated as cash flow hedges			Of which derivatives not eligible for hedge accounting
(€ million)	Notional amount		Fair value		Notional amount	Fair value	Of which recognized in equity	Notional amount		Fair value
Forward currency sales		3,963		(25)	-	-	-		3,963		(25)
of which US dollar		1,850		(17)	-	-	-		1,850		(17)
of which Chinese yuan renminbi		453		(2)	-	-	-		453		(2)
of which Swiss franc		253		(1)	-	-	-		253		(1)
of which Japanese yen		206		5	-	-	-		206		5
of which Singapore dollar		156		1	-	-	-		156		1
Forward currency purchases		1,517		-	-	-	-		1,517		-
of which US dollar		400		1	-	-	-		400		1
of which Japanese yen		283		(2)	-	-	-		283		(2)
of which Singapore dollar		233		1	-	-	-		233		1
of which Swiss franc		84		-	-	-	-		84		-
of which Hungarian forint		82		-	-	-	-		82		-
Total		5,480		(25)	-	-	-		5,480		(25)

The table below shows operating currency hedging instruments in place as of December 31, 2015, with the notional amount translated into euros at the relevant closing exchange rate:

December 31, 2015					Of which derivatives designated as cash flow hedges						Of which derivatives not eligible for hedge accounting
(€ million)	Notional amount		Fair value		Notional amount		Fair value		Of which recognized in equity		Notional amount		Fair value
Forward currency sales		2,142		27		-		-		-		2,142		27
of which US dollar		672		(2)		-		-		-		672		(2)
of which Chinese yuan renminbi		339		1		-		-		-		339		1
of which Japanese yen		159		(1)		-		-		-		159		(1)
of which Russian rouble		130		22		-		-		-		130		22
of which Singapore dollar		114		-		-		-		-		114		-
Forward currency purchases		905		(11)		-		-		-		905		(11)
of which US dollar		204		-		-		-		-		204		-
of which Russian rouble		109		(9)		-		-		-		109		(9)
of which Singapore dollar		104		(1)		-		-		-		104		(1)
of which Hungarian forint		90		(1)		-		-		-		90		(1)
of which Chinese yuan renminbi		86		2		-		-		-		86		2
Total		3,047		16		-		-		-		3,047		16

b) Currency and interest rate derivatives used to manage financial exposure

The cash pooling arrangements for foreign subsidiaries outside the euro zone, and some of Sanofi’s financing activities, expose certain Sanofi entities to financial foreign exchange risk (i.e. the risk of changes in the value of borrowings and loans denominated in a currency other than the functional currency of the borrower or lender). That foreign exchange exposure is hedged by Sanofi using firm financial instruments (currency swaps or forward contracts).

The table below shows financial currency hedging instruments in place, with the notional amount translated into euros at the relevant closing exchange rate:

	2017						2016						2015
(€ million)	Notional amount		Fair value		Expiry		Notional amount		Fair value		Expiry		Notional amount		Fair value		Expiry
Forward currency sales		5,074		86				5,298		(28)				3,472		(44)
of which US dollar		3,542		50		2018		3,356		(37)		2017		2,171		(30)		2016
of which Japanese yen		867		34		2018		1,036		-		2017		612		(9)		2016
of which Australian dollar		281		1		2018		254		5		2017		266		(4)		2016
Forward currency purchases		4,657		(18)				5,980		31				2,623		9
of which Singapore dollar		2,281		(23)		2018		878		5		2017		310		-		2016
of which Canadian dollar		907		6		2018		-		-				145		(1)		2016
of which Czech koruna		431		6		2018		332		(1)		2017		245		(1)		2016
Total		9,731		68				11,278		3				6,095		(35)

These forward currency contracts generate a net financial foreign exchange gain or loss arising from the interest rate differential between the hedged currency and the euro, given that the foreign exchange gain or loss on the foreign-currency borrowings and loans is offset by the change in the intrinsic value of the hedging instruments. Sanofi may also hedge some future foreign-currency 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:

	Notional amounts by expiry date as of December 31, 2017																Of which designated as fair value hedges				Of which designated as cash flow hedges
(€ million)	2018		2019		2020		2021		2022		2023		Total		Fair value		Notional amount		Fair value		Notional amount		Fair value		Of which recognized in equity
Interest rate swaps
pay capitalized Eonia / receive 1.58%		-		1,550		-		-		-		-		1,550		58		1,550		58		-		-		-
pay capitalized Eonia / receive 0.06%		-		-		-		-		1,800		-		1,800		(6)		1,800		(6)		-		-		-
pay 1.81% / receive 3-month US dollar Libor		-		-		417		-		-		-		417		2		-		-		417		2		-
pay 3-month US dollar Libor / receive 2.22%		-		-		417		-		-		-		417		3		417		3		-		-		-
pay capitalized Eonia / receive 1.48%(a)		-		-		-		-		42		57		99		(6)		-		-		-		-		-
Total		-		1,550		834		-		1,842		57		4,283		51		3,767		55		417		2		-

(a) These interest rate swaps hedge fixed-rate bonds with a nominal of €99 million held in a Professional Specialized Investment Fund dedicated to Sanofi and recognized within “Loans, advances and other long-term receivables” (see Note D.7.).

The table below shows instruments of this type in place as of December 31, 2016:

	Notional amounts by expiry date as of December 31, 2016																Of which designated as fair value hedges				Of which designated as cash flow hedges
(€ million)	2017		2019		2020		2021		2022		2023		Total		Fair value		Notional amount		Fair value		Notional amount		Fair value		Of which recognized in equity
Interest rate swaps
pay capitalized Eonia / receive 1.58%		-		1,550		-		-		-		-		1,550		88		1,550		88		-		-		-
pay 3-month Euribor / receive 1.15%		428		-		-		-		-		-		428		3		428		3		-		-		-
pay 3-month US dollar Libor / receive 2.22%		-		-		475		-		-		-		475		10		475		10		-		-		-
pay 1.22% / receive 3-month & 6-month US dollar Libor		475		-		-		-		-		-		475		(2)		-		-		475		(2)		-
pay capitalized Eonia / receive -0.01%		-		-		-		-		300		-		300		1		300		1		-		-		-
Total		903		1,550		475		-		300		-		3,228		100		2,753		102		475		(2)		-

The table below shows instruments of this type in place as of December 31, 2015:

	Notional amounts by expiry date as of December 31, 2015																Of which designated as fair value hedges				Of which designated as cash flow hedges
(€ million)	2016		2017		2019		2020		2021		2022		Total		Fair value		Notional amount		Fair value		Notional amount		Fair value		Of which recognized in equity
Interest rate swaps
pay 1-month Euribor 0.26% / receive 2.73%		500		-		-		-		-		-		500		14		500		14		-		-		-
pay capitalized Eonia / receive 1.90%		1,000		-		1,550		-		-		-		2,550		128		2,550		128		-		-		-
pay 3-month Euribor / receive 1.15%		-		428		-		-		-		-		428		3		-		-		-		-		-
pay 3-month US dollar Libor / receive 2.22%		-		-		-		459		-		-		459		14		459		14		-		-		-
pay 1.22% / receive 3-month & 6-month US dollar Libor		-		459		-		-		-		-		459		(2)		-		-		459		(2)		(1)
Currency swaps hedging investments
pay JPY / receive €		175		-		-		-		-		-		175		(4)		-		-		-		-		-
pay USD / receive €		92		-		-		-		-		-		92		(1)		-		-		-		-
Total		1,767		887		1,550		459		-		-		4,663		152		3,509		156		459		(2)		(1)

c) Actual or potential effects of netting arrangements

The table below is prepared in accordance with the accounting policies described in Note B.8.3.:

	2017				2016				2015
(€ million)	Derivative financial assets		Derivative financial liabilities		Derivative financial assets		Derivative financial liabilities		Derivative financial assets		Derivative financial liabilities
Gross carrying amounts before offset (a)		196		(74)		210		(132)		218		(85)
Gross amounts offset (in accordance with IAS 32) (b)		-		-		-		-		-		-
Net amounts as reported in the balance sheet (a) – (b) = (c)		196		(74)		210		(132)		218		(85)
Effects of other netting arrangements (not fulfilling the IAS 32 criteria for offsetting) (d)
Financial instruments		(67)		67		(97)		97		(66)		66
Fair value of financial collateral		N/A		N/A		N/A		N/A		N/A		N/A
Net exposure (c) + (d)		129		(7)		113		(35)		152		(19)

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Off-balance sheet commitments

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

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:

December 31, 2017			Payments due by period
(€ million)	Total		Less than 1 year		1 to 3 years		3 to 5 years		More than 5 years
Operating leases(a)		1,452		294		407		284		467
Irrevocable purchase commitments(b)
∎   given(c)		5,500		3,101		1,021		483		895
∎   received		(181)		(87)		(56)		(10)		(28)
Research and development license agreements
∎   commitments related to R&D and other commitments(d)		951		577		342		10		22
∎   potential milestone payments(e)		1,907		84		246		941		636
Firm commitments under the agreement with BMS(f)		97		97		-		-		-
Total		9,726		4,066		1,960		1,708		1,992

(a) Operating leases as of December 31, 2017 include €127 million of commitments given to joint ventures.

(b) These comprise irrevocable commitments to suppliers of (i) property, plant and equipment, net of down-payments (see Note D.3.) and (ii) goods and services. As of December 31, 2016, irrevocable commitments amounted to €4,192 million given and €(229) million received (excluding the Animal Health business).

(c) Irrevocable purchase commitments given as of December 31, 2017 include €1,207 million of commitments to joint ventures.

(d) Commitments related to R&D, and other commitments, amounted to €1,572 million as of December 31, 2016 (excluding the Animal Health business).

(e) This line includes only potential milestone payments on projects regarded as reasonably possible, i.e. on projects in the development phase. Potential milestone payments as of December 31, 2016 amounted to €2,072 million (excluding the Animal Health business).

(f) See Note C.2.

Operating leases

Sanofi leases some of the property and equipment used in the ordinary course of business under operating leases. The majority of future operating lease rental commitments relate to real estate assets; the remainder relate to vehicles and other leased assets. Future minimum lease payments due under non-cancelable 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:

∎ On January 9, 2017, Sanofi and Immunext announced an agreement to develop a novel antibody to treat auto-immune diseases such as multiple sclerosis and lupus. Under the agreement, Sanofi acquired an exclusive worldwide license to INX-021, a monoclonal CD40L antibody currently in preclinical development. A second parallel agreement was signed to support clinical trials.

∎ On March 3, 2017, Sanofi Pasteur and MedImmune (a division of AstraZeneca) announced an agreement to develop and commercialize a monoclonal antibody (MEDI8897) for the prevention of Respiratory Syncytial Virus (RSV) associated illness in newborns and infants.

∎ On May 30, 2017, ImmunoGen and Sanofi finalized an amendment to the license and collaboration agreement signed in 2003. ImmunoGen has granted Sanofi a fully paid and exclusive license to develop, manufacture and commercialize the full series of compounds developed by Sanofi using ImmunoGen technology.

∎ On July 20, 2017, Sanofi and Ablynx announced an alliance to reinforce treatments of inflammatory and auto-immune diseases under which Sanofi could pay Ablynx up to €2.4 billion. On January 29, 2018, Sanofi announced that it had entered into a definitive agreement to acquire all of the outstanding ordinary shares, warrants and convertible bonds of Ablynx (see Note G/).

∎ On September 28, 2017, Sanofi and Thermalin, Inc. announced a worldwide collaboration to discover and develop novel, engineered insulin analogues. The collaboration builds on Thermalin’s pioneering science, which alters the insulin molecule to achieve greater therapeutic performance.

∎ On November 9, 2017, Sanofi and Principia Biopharma, Inc. signed a license agreement to develop Principia’s Bruton’s tyrosine kinase (BTK) inhibitor (PRN2246), in the treatment of multiple sclerosis and, potentially, other central nervous system diseases. Sanofi will pay an upfront payment of $40 million to Principia, future milestone payments of up to $765 million, and royalties on sales of the product.

Other major agreements entered into by Sanofi in prior years are described below:

∎ Hanmi Pharmaceutical Co., Ltd. (2016): amendment to the license agreement originally signed on November 5, 2015. Under the terms of the amendment, Sanofi returned to Hanmi the rights for a weekly-administered insulin, and Hanmi re-assumed 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.

∎ JHL Biotech, Inc. (2016): collaboration to develop and commercialize biological therapeutic treatments in China, with the potential for international expansion. JHL retains responsibility for development, registration and production, while Sanofi is responsible for commercialization.

∎ DiCE Molecules (2016): five-year global collaboration to discover potential new therapeutics for up to 12 targets that encompass all disease areas of strategic interest to Sanofi.

∎ Innate Pharma (2016): collaboration and licensing agreement to apply Innate Pharma’s new proprietary technology to the development of innovative bispecific antibody formats engaging natural killer (NK) cells to kill tumor cells through the activating receptor NKp46.

∎ Lexicon Pharmaceuticals, Inc. (2015): collaboration and license agreement to develop and commercialize sotagliflozine, an investigational dual inhibitor of sodium-glucose cotransporters 1 and 2 (SGLT-1 and SGLT-2).

∎ BioNTech A.G. (2015): exclusive collaboration and license agreement to discover and develop up to five cancer immunotherapies.

∎ Evotec AG and Apeiron Biologics AG (2015): collaboration and license agreement to discover and develop first-in-class small molecule-based immuno-oncology therapies to treat solid and hematological cancers.

∎ Evotec International GmbH (2015): strategic research collaboration to develop beta cell-modulating diabetes treatments, which may reduce or eliminate the need for insulin injections.

∎ Regeneron (2015): collaboration agreement on the discovery, development and commercialization of antibodies in the field of immuno-oncology (see Note C.1.). An amendment to that agreement was signed on January 8, 2018 (see Note G/).

∎ Regeneron (2015): amendment to the September 2003 collaboration agreement on the development and commercialization of Zaltrap^® (aflibercept) (see Note C.1.).

∎ Lead Pharma (2015): research collaboration and license agreement for the discovery, development and commercialization of small-molecule therapies directed against “ROR gamma t” nuclear hormone receptors to treat auto-immune diseases.

∎ Voyager Therapeutics (2015): collaboration agreement for the discovery, development and commercialization of new gene therapies to treat serious disorders of the central nervous system.

∎ Immune Design (2014): license agreement for the use of Immune Design’s GLAAS^® research platform to develop therapeutic agents capable of treating an identified food allergy.

∎ Eli Lilly and Company (2014): agreement to pursue regulatory approval for non-prescription Cialis^® (tadalafil).

∎ Alnylam Pharmaceuticals, Inc. (2014): extension of the strategic agreement to develop and commercialize treatments for rare genetic diseases. An amendment to that agreement was signed on January 7, 2018 (see Note G/).

∎ UCB (2014): scientific and strategic collaboration for the discovery and development of innovative anti-inflammatory small molecules, which have the potential to treat a wide range of immune-mediated diseases in areas such as gastroenterology and arthritis.

∎ Ascendis (2010): licensing and patent transfer agreement on Transcon Linker and Hydrogel Carrier technology. The agreement enables Sanofi to develop, manufacture and commercialize products combining this technology with active molecules for the treatment of diabetes and related disorders.

∎ Avila Therapeutics, Inc. (acquired by Celgene Corporation in 2012): 2010 alliance to discover target covalent drugs for the treatment of cancers, directed towards six signaling proteins that are critical in tumor cells.

∎ Regulus Therapeutics, Inc. (2010): discovery, development and commercialization of novel micro-RNA therapeutics in fibrosis.

∎ Exelixis, Inc. (2009): global license agreement for XL765.

Sanofi and its alliance partners have decided to terminate the following agreements (the related commitments are no longer disclosed as of December 31, 2017):

∎ Sanofi and Vivus, Inc. have discontinued their agreement to develop, manufacture and commercialize avanafil.

∎ Sanofi and Warp Drive have decided to end the collaboration initiated in January 2016 relating to two key programs (ABC and non ABC) to develop novel anti-cancer and antibiotic agents derived from proprietary platforms.

Other agreements

Sanofi has entered into two agreements, with Royalty Pharma (December 2014) and NovaQuest (December 2015), which have similar characteristics in that the partners jointly bear a portion of the remaining development cost of the project on a quarterly basis in return for a share of future sales. These transactions are co-investments, 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:

∎ The products being developed under the December 2014 agreement with Royalty Pharma were launched in the United States and Europe, marking the end of the joint development programs.

∎ Sanofi announced the discontinuation of development on the Clostridium Difficile program on December 1, 2017, thereby cancelling any future commitments under the December 2015 joint development agreement with NovaQuest.

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:

December 31, 2017			Expiry
(€ million)	Total		Less than 1 year		1 to 3 years		3 to 5 years	More than 5 years
General-purpose credit facilities		8,010		7		8,003	-	-

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:

(€ million)	2017		2016		2015
Guarantees given:		2,986		3,946		3,972
∎   Guarantees provided to banks in connection with credit facilities		1,318		2,189		2,260
∎   Other guarantees given		1,668		1,757		1,712
Guarantees received		(181)		(211)		(187)

D.21.3. Off balance sheet commitments relating to Sanofi entities and business combinations

Funding commitments to associates and joint ventures are disclosed in Note D.6.

The maximum amount of contingent consideration relating to business combinations is disclosed in Note D.18.

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Legal and arbitral proceedings

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Legal and arbitral proceedings

D.22. Legal and arbitral proceedings

Sanofi and its affiliates are involved in litigation, arbitration and other legal proceedings. These proceedings typically are related to product liability claims, intellectual property rights (particularly claims against generic companies seeking to limit the patent protection of Sanofi products), competition law and trade practices, commercial claims, employment and wrongful discharge claims, tax assessment claims, waste disposal and pollution claims, and claims under warranties or indemnification arrangements relating to business divestitures. Provisions related to legal and arbitral proceedings are recorded in accordance with the principles described in Note B.12.

Most of the issues raised by these claims are highly complex and subject to substantial uncertainties; therefore, the probability of loss and an estimation of damages are difficult to ascertain. Contingent liabilities are cases for which either we are unable to make a reasonable estimate of the expected financial effect that will result from ultimate resolution of the proceeding, or a cash outflow is not probable. In either case, a brief description of the nature of the contingent liability is disclosed and, where practicable, an estimate of its financial effect, an indication of the uncertainties relating to the amount and timing of any outflow, and the possibility of any reimbursement are provided in application of paragraph 86 of IAS 37.

In the cases that have been settled or adjudicated, or where quantifiable fines and penalties have been assessed, we have indicated our losses or the amount of provision accrued that is the estimate of the probable loss.

In a limited number of ongoing cases, while we are able to make a reasonable estimate of the expected loss or range of the possible loss and have accrued a provision for such loss, we believe that publication of this information on a case-by-case 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:

∎ Provisions for product liability risks, litigation and other amount to €1,164 million in 2017. These provisions are mainly related to product liabilities, government investigations, competition law, regulatory claims, warranties in connection with certain contingent liabilities arising from business divestitures other than environmental matters and other claims.

∎ Provisions for environmental risks and remediation amount to €686 million in 2017, the majority of which are related to contingencies that have arisen from business divestitures.

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:

∎ While all obligations of Hoechst (i) resulting from public law or (ii) pursuant to current or future environmental laws or (iii) vis-à-vis third parties pursuant to private or public law related to contamination (as defined) were transferred to Celanese under the demerger agreement in full, after the subsequent contribution CCC can request indemnification from Hoechst for two thirds of any such cost incurred under these obligations.

∎ To the extent Hoechst is liable to purchasers of certain of its divested businesses (as listed in the demerger agreement), CCC is liable to indemnify Hoechst, as far as environmental damages are concerned, for aggregate liabilities up to €250 million, liabilities exceeding such amount will be borne by Hoechst alone up to €750 million, and amounts exceeding €750 million will be borne ²/₃ by Hoechst and ¹/₃ by CCC without any further caps. Subsequent to the contribution of rights and obligations relating to environmental liabilities by Celanese, Celanese was jointly liable with CCC until November 2016. Thereafter, Celanese remains liable for known environmental claims specified in 2013.

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

12 Months Ended

Dec. 31, 2017

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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:

(€ million)	Government and State programs(a)		Government and GPO programs(b)		Chargeback incentives		Rebates and discounts		Sales returns		Other deductions		Total
Balance at January 1, 2015		1,439		312		221		876		393		6		3,247
Provision related to current period sales		4,912		1,954		4,131		5,913		585		31		17,526
Net change in provision related to prior period sales		(35)		-		(20)		(45)		35		-		(65)
Payments made		(4,295)		(1,636)		(4,001)		(5,672)		(541)		(31)		(16,176)
Currency translation differences		152		42		18		11		29		-		252
Reclassification of the Animal Health business(c)		-		-		-		(139)		(21)		(1)		(161)
Balance at December 31, 2015(d)		2,173		672		349		944		480		5		4,623
Provision related to current period sales		5,240		1,869		4,132		5,394		547		14		17,196
Net change in provision related to prior period sales		(6)		-		(8)		(20)		18		(1)		(17)
Payments made		(5,078)		(1,796)		(4,204)		(5,230)		(509)		(15)		(16,832)
Currency translation differences		69		26		11		23		14		-		143
Balance at December 31, 2016(d)		2,398		771		280		1,111		550		3		5,113
Provision related to current period sales		5,131		2,027		4,069		5,897		537		29		17,690
Net change in provision related to prior period sales		(46)		(11)		(8)		30		(11)		-		(46)
Payments made		(5,129)		(2,031)		(3,925)		(5,897)		(466)		(26)		(17,474)
Currency translation differences		(268)		(93)		(39)		(74)		(63)		-		(537)
Balance at December 31, 2017(d)		2,086		663		377		1,067		547		6		4,746

(a) Primarily the US government’s Medicare and Medicaid programs.

(b) Mainly rebates and other price reductions granted to healthcare authorities in the United States.

(c) This line comprises the provisions for discounts, rebates and sales returns of the Animal Health business, reclassified to Liabilities related to assets held for sale or exchange as of December 31 2015 in accordance with IFRS 5 (see Notes D.1. and D.36.).

(d) Provisions related to US net sales amount to €3,487 million as of December 31, 2017, €3,818 million as of December 31, 2016 and €3,584 million as of December 31, 2015.

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Personnel costs

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Dec. 31, 2017

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Personnel costs

D.24. Personnel costs

Total personnel costs include the following items:

(€ million)	2017		2016		2015
Salaries		6,592		6,424		6,473
Social security charges (including defined-contribution pension plans)		1,977		1,948		1,951
Stock options and other share-based payment expense		258		250		206
Defined-benefit pension plans		275		273		280
Other employee benefits		219		224		224
Total(a)		9,321		9,119		9,134

(a) Excludes personnel costs for the Animal Health business: immaterial in 2017, €0.6 billion for 2016 and 2015.

The total number of registered employees (excluding those of the Animal Health business) was 106,566 as of December 31, 2017, compared with 106,859 as of December 31, 2016 and 109,089 as of December 31, 2015.

Employee numbers by function as of December 31 are shown below:

	2017		2016		2015
Production		40,417		41,867		42,754
Research and development		14,764		15,148		15,384
Sales force		30,284		30,815		32,771
Marketing and support functions		21,101		19,029		18,180
Total(a)		106,566		106,859		109,089

(a) Excluding employees of the Animal Health business: 4 employees in 2017, 6,957 in 2016 and 6,542 in 2015.

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Other operating income

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Dec. 31, 2017

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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

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Dec. 31, 2017

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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

12 Months Ended

Dec. 31, 2017

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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:

(€ million)	2017(a)		2016(a)		2015(a)
Employee-related expenses		336		650		307
Expenses related to property, plant and equipment and to inventories		221		139		132
Compensation for early termination of contracts (other than contracts of employment)		61		31		7
Decontamination costs		(4)		3		1
Other restructuring costs		117		56		348
Total		731		879		795

(a) The results of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36.

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

12 Months Ended

Dec. 31, 2017

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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

12 Months Ended

Dec. 31, 2017

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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:

(€ million)	2017(a)		2016(a)		2015(a)
Cost of debt(b)		(277)		(274)		(331)
Interest income		56		56		57
Cost of debt, net of cash and cash equivalents		(221)		(218)		(274)
Non-operating foreign exchange gains/(losses)		(21)		(21)		-
Unwinding of discounting of provisions(c)		(33)		(33)		(44)
Net interest cost related to employee benefits		(92)		(114)		(114)
Gains/(losses) on disposals of financial assets		96		36		46
Impairment losses on financial assets, net of reversals		(7)		(487)(d)		(50)
Other		5		(19)		55
Net financial income/(expenses)		(273)		(856)		(381)
comprising: Financial expenses		(420)		(924)		(559)
Financial income		147		68		178

(a) The results of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36.

(b) Includes net gain on interest rate derivatives used to hedge debt: €69 million in 2017, €86 million in 2016 and €85 million in 2015.

(c) Primarily on provisions for environmental risks, restructuring provisions, and provisions for product-related risks (see Note D.19.).

(d) On October 5, 2016, Alnylam Pharmaceuticals, Inc. announced that it was terminating its revusiran development program, as a result of which its share price fell by 48% on October 6, 2016. Consequently, Sanofi recognized an impairment loss reflecting the difference between the historical acquisition cost of its shares in Alnylam and their market value. That impairment loss, which amounted to €457 million as of December 31, 2016, is included within the line “Impairment losses on financial assets, net of reversals”.

In 2017, 2016 and 2015, the impact of the ineffective portion of hedging relationships was not material.

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Income tax expense

12 Months Ended

Dec. 31, 2017

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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:

(€ million)	2017(a)		2016(a)		2015(a)
Current taxes		(2,631)		(1,869)		(1,978)
Deferred taxes		909		543		1,269
Total		(1,722)		(1,326)		(709)
Income before tax and investments accounted for using the equity method		5,530		5,678		5,243

(a) The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36.

The difference between the effective tax rate and the standard corporate income tax rate applicable in France is explained as follows:

(as a percentage)	2017(a)		2016(a)		2015(a)
Standard tax rate applicable in France		34.4		34.4		34.4
Difference between the standard French tax rate and the rates applicable to Sanofi(b)		(19.2)		(10.1)		(17.7)
Tax rate differential on intragroup margin in inventory(c)		(0.0)		(0.6)		1.7
Tax effects of the share of profits reverting to BMS (see Note D.32.)		(0.5)		(0.5)		(0.6)
Contribution on distributed income (3%) and associated changes(d)		(8.2)		2.0		2.1
CVAE tax in France(e)		1.3		1.1		1.3
Revisions to tax exposures and settlements of tax disputes		2.2		(4.8)		0.3
Fair value remeasurement of contingent consideration		1.1		0.4		(1.1)
Impact of US tax reform(f)		21.6		-		-
Other items(g)		(1.6)		1.5		(6.9)
Effective tax rate		31.1		23.4		13.5

(a) The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36.

(b) The difference between the French tax rate and tax rates applicable to foreign subsidiaries reflects the fact that Sanofi has operations in many countries, most of which have lower tax rates than France.

(c) When internal margin included in inventory is eliminated, a deferred tax asset is recognized on the basis of the tax rate applicable to the subsidiary that holds the inventory, which may differ from the tax rate of the subsidiary that generated the eliminated intragroup margin.

(d) In 2017, this line includes the consequences of the French Constitutional Council ruling of October 6, 2017 on the additional 3% contribution on dividends paid out in cash. In 2016 and 2015, entities liable to corporate income tax in France were liable to pay an additional tax contribution in respect of amounts distributed by the entity.

(e) Net impact on the effective tax rate (current taxes, impact of the tax deduction, and deferred taxes).

(f) For 2017, this line includes an expense of €1,193 million for the consequences of US tax reform, comprising the estimated tax charge on deemed repatriation attributable to the accumulated earnings of non-US operations payable over 8 years (€1,084 million) and a further expense of €109 million representing (i) the remeasurement of deferred taxes following the reduction in the corporate income tax rate and (ii) an adjustment to deferred taxes on the fair value of the reserves of Sanofi subsidiaries.

(g) For 2017, the “Other items” line includes the impact of changes to tax rates in France, Belgium and the Netherlands. For 2016, it includes the effects of changes in tax rates in various countries, particularly in France, Hungary, Italy, Japan and the United States. For 2015, it includes the impact (€161 million) of changes in the taxation of dividends in France following the ruling of the Court of Justice of the European Union in the Steria case and the resulting amendments to the 2015 Finance Act. This line also includes the net tax effect of taxable temporary differences associated with holdings in Sanofi subsidiaries. In determining the amount of the deferred tax liability for 2017, 2016 and 2015, Sanofi took into account changes in the ownership structure of certain subsidiaries.

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.

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Share of profit/loss from investments accounted for using the equity method

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Dec. 31, 2017

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Share of profit/loss from investments accounted for using the equity method

D.31. Share of profit/loss from investments accounted for using the equity method

With effect from the beginning of April 2014, this line item includes Sanofi’s share of the profits and losses of Regeneron, which represented a net profit of €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.

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Net income attributable to non-controlling interests

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Dec. 31, 2017

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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.

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Related party transactions

12 Months Ended

Dec. 31, 2017

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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:

(€ million)	2017		2016		2015
Short-term benefits(a)		31		32		32
Post-employment benefits(b)		8		9		20
Share-based payment		15		22		14
Total recognized in profit or loss		54		63		66

(a) Compensation, employer’s social security contributions, directors’ attendance fees, and any termination benefits (net of reversals of termination benefit obligations).

(b) In 2015, includes the expense arising from the award of a deemed ten years of service to Olivier Brandicourt.

The aggregate top-up 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.

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Information About Major Customers and Credit Risk

12 Months Ended

Dec. 31, 2017

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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).

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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 amounts reported in the line items Restructuring costs and similar items, Fair value remeasurement of contingent consideration and Other gains and losses, and litigation are eliminated;

∎ amortization and impairment losses charged against intangible assets (other than software and other rights of an industrial or operational nature) are eliminated;

∎ the share of profits/losses from investments accounted for using the equity method is added;

∎ net income attributable to non-controlling interests is deducted;

∎ other acquisition-related effects (primarily the workdown of acquired inventories remeasured at fair value at the acquisition date, and the impact of acquisitions on investments accounted for using the equity method) are eliminated;

∎ restructuring costs relating to investments accounted for using the equity method are eliminated.

The table below sets forth our segment results for the year ended December 31, 2017, based on our new segment reporting model:

	2017
(€ million)	Pharmaceuticals		Consumer Healthcare		Vaccines		Other		Total Sanofi
Net sales		25,122		4,832		5,101		-		35,055
Other revenues		287		-		862		-		1,149
Cost of sales		(6,728)		(1,648)		(2,798)		(271)		(11,445)
Research and development expenses		(4,056)		(123)		(557)		(736)		(5,472)
Selling and general expenses		(5,750)		(1,605)		(698)		(2,005)		(10,058)
Other operating income and expenses		34		94		(107)		(17)		4
Share of profit/(loss) from investments accounted for using the equity method		233		1		1		-		235
Net income attributable to non-controlling interests		(117)		(8)		-		-		(125)
Business operating income		9,025		1,543		1,804		(3,029)		9,343

Due to lack of available data and the too complex and significant adjustments that would be required (in particular to our reporting tools), the comparative information has not been restated to reflect the changes arising from our new segment reporting model. We have therefore also presented segment results for 2017 and comparative periods using our previous segment reporting model in the table below:

	2017
(€ million)	Pharmaceuticals(a)		Vaccines(b)		Other		Total Sanofi
Net sales		29,954		5,101		-		35,055
Other revenues		287		862		-		1,149
Cost of sales		(8,628)		(2,817)		-		(11,445)
Research and development expenses		(4,835)		(637)		-		(5,472)
Selling and general expenses		(9,176)		(881)		(1)		(10,058)
Other operating income and expenses		180		(108)		(68)		4
Share of profit/(loss) from investments accounted for using the equity method		234		1		-		235
Net income attributable to non-controlling interests		(125)		-		-		(125)
Business operating income		7,891		1,521		(69)		9,343

(a) Includes Consumer Healthcare and an allocation of global support function costs.

(b) Includes an allocation of global support function costs.

The table below sets forth our segment results for the year ended December 31, 2016, based on our previous segment reporting model:

	December 31, 2016
(€ million)	Pharmaceuticals(a)		Vaccines(b)		Other		Total Sanofi
Net sales		29,244		4,577		-		33,821
Other revenues		274		613		-		887
Cost of sales		(8,349)		(2,353)		-		(10,702)
Research and development expenses		(4,618)		(554)		-		(5,172)
Selling and general expenses		(8,743)		(743)		-		(9,486)
Other operating income and expenses		(1)		(14)		(112)		(127)
Share of profit/(loss) from investments accounted for using the equity method		129		48		-		177
Net income attributable to non-controlling interests		(112)		(1)		-		(113)
Business operating income		7,824		1,573		(112)		9,285

(a) Includes Consumer Healthcare and an allocation of global support function costs. Consumer Healthcare net sales were €3,330 million in 2016.

(b) Includes an allocation of global support function costs.

The table below sets forth our segment results for the year ended December 31, 2015, based on our previous segment reporting model:

	December 31, 2015
(€ million)	Pharmaceuticals(a)		Vaccines(b)/(c)		Other		Total Sanofi
Net sales		29,799		4,261		-		34,060
Other revenues		288		513		-		801
Cost of sales		(8,788)		(2,131)		-		(10,919)
Research and development expenses		(4,530)		(552)		-		(5,082)
Selling and general expenses		(8,656)		(726)		-		(9,382)
Other operating income and expenses		(121)		27		(114)		(208)
Share of profit/(loss) from investments accounted for using the equity method		146		23		-		169
Net income attributable to non-controlling interests		(125)		(1)		-		(126)
Business operating income		8,013		1,414		(114)		9,313

(a) Includes Consumer Healthcare and an allocation of global support function costs. Consumer Healthcare net sales were €3,492 million in 2015.

(b) Includes an allocation of global support function costs.

(c) Due to a change in accounting presentation, VaxServe sales of non-Sanofi products are included in Other revenues from 2016 onwards. The presentation of prior period Net sales and Other revenues has been amended accordingly (see Note B.13.).

The table below, presented in compliance with IFRS 8, shows a reconciliation between aggregated “Business operating income” for the segments and Income before tax and investments accounted for using the equity method.

(€ million)	2017		2016		2015
Business operating income		9,343		9,285		9,313
Share of profit/(loss) from investments accounted for using the equity method(a)		(235)		(177)		(169)
Net income attributable to non-controlling interests(b)		125		113		126
Amortization and impairment of intangible assets		(2,159)		(1,884)		(2,904)
Fair value remeasurement of contingent consideration		(159)		(135)		53
Expenses arising from the impact of acquisitions on inventories(c)		(166)		-		-
Restructuring costs and similar items		(731)		(879)		(795)
Other gains and losses, and litigation(d)		(215)		211		-
Operating income		5,803		6,534		5,624
Financial expenses(e)		(420)		(924)		(559)
Financial income		147		68		178
Income before tax and investments accounted for using the equity method		5,530		5,678		5,243

(a) Excluding restructuring costs relating to investments accounted for using the equity method and expenses arising from the impact of acquisitions on investments accounted for using the equity method, and after elimination of Sanofi’s share of the business net income of Sanofi Pasteur MSD from the date when Sanofi and Merck announced their intention to end their joint venture (€52 million in 2016).

(b) Excluding (i) restructuring costs and (ii) other adjustments attributable to non-controlling interests.

(c) This line records the impact of the workdown of acquired inventories remeasured at fair value at the acquisition date.

(d) For 2017, this line includes an adjustment to a provision for vendor’s liability guarantees relating to past divestments.

For 2016, it includes the pre-tax gain on divestment of Sanofi’s interest in the Sanofi Pasteur MSD joint venture.

(e) For 2016, this line includes an impairment loss of €457 million taken against Sanofi’s equity investment in Alnylam Pharmaceuticals, Inc. (see Note D.29.).

D.35.2. Other segment information

The tables below show the split by operating segment of (i) the carrying amount of associates and joint ventures accounted for using the equity method, (ii) acquisitions of property, plant and equipment, and (iii) acquisitions of intangible assets.

The principal investments accounted for using the equity method are: for the Pharmaceuticals segment, Regeneron Pharmaceuticals, Inc. (see Note D.2.2.), the entities majority owned by BMS (see Note C.2.), and Infraserv GmbH & Co. Höchst KG; and for the Vaccines segment, Sanofi Pasteur MSD (until March 8, 2016; see Notes B.1. and D.2.3.).

Acquisitions of intangible assets and property, plant and equipment correspond to acquisitions paid for during the period.

	2017
(€ million)	Pharmaceuticals		Consumer Healthcare		Vaccines		Total Sanofi
Investments accounted for using the equity method		2,831		19		13		2,863
Acquisitions of property, plant and equipment		1,033		9		346		1,388
Acquisitions of other intangible assets		367		9		192		568

	2017
(€ million)	Pharmaceuticals		Vaccines		Total Sanofi
Investments accounted for using the equity method		2,850		13		2,863
Acquisitions of property, plant and equipment		1,042		346		1,388
Acquisitions of other intangible assets		376		192		568

	2016
(€ million)	Pharmaceuticals		Vaccines		Total Sanofi
Investments accounted for using the equity method		2,886		4		2,890
Acquisitions of property, plant and equipment		904		315		1,219
Acquisitions of other intangible assets		807		57		864

	2015
(€ million)	Pharmaceuticals		Vaccines		Total Sanofi
Investments accounted for using the equity method		2,422		254		2,676
Acquisitions of property, plant and equipment		945		258		1,203
Acquisitions of other intangible assets		1,533		36		1,569

D.35.3. Information by geographical region

The geographical information on net sales provided below is based on the geographical location of the customer. In accordance with IFRS 8, the non-current assets reported below exclude financial instruments, deferred tax assets, and pre-funded pension obligations.

	2017
(€ million)	Total Sanofi		Europe		of which France		North America		of which United States		Other countries
Net sales		35,055		9,525		2,330		12,460		11,855		13,070
Non-current assets:
∎   property, plant and equipment		9,579		5,969		3,180		2,560		2,142		1,050
∎   goodwill		40,264
∎   other intangible assets		13,080		6,171				5,210				1,699

	2016
(€ million)	Total Sanofi		Europe		of which France		North America		of which United States		Other countries
Net sales		33,821		8,679		2,206		12,963		12,391		12,179
Non-current assets:
∎   property, plant and equipment		10,019		6,068		3,413		2,850		2,447		1,101
∎   goodwill		40,287
∎   other intangible assets		10,879		3,612				5,430				1,837

	2015
(€ million)	Total Sanofi		Europe		of which France		North America		of which United States		Other countries
Net sales(a)		34,060		9,861		2,248		12,369		11,764		11,830
Non-current assets:
∎   property, plant and equipment		9,943		5,956		3,480		2,879		2,498		1,108
∎   goodwill		39,557
∎   other intangible assets		12,026		3,719				5,980				2,327

(a) Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.).

As stated in Note D.5., goodwill is not allocated by geographical region.

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Exchanged/held-for-exchange Animal Health business

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Exchanged/held-for-exchange Animal Health business

D.36. Exchanged/held-for-exchange 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:

(€ million)	2016		2015
Assets
Property, plant and equipment		811		657
Goodwill		1,560		1,510
Other intangible assets		2,227		2,147
Investments accounted for using the equity method		12		6
Other non-current assets		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

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:

(€ million)	2017		2016		2015
Net sales		-		2,708		2,515
Gross profit		-		1,850		1,671
Operating income		-		678		101
Income before tax and investments accounted for using the equity method(a)		6,343		672		92
Income tax expense(b)		(1,700)		(359)		(216)
Net income/(loss) of the exchanged/held-for-exchange Animal Health business		4,643		314		(124)

(a) In 2017, this line shows the gain arising on the divestment of the Animal Health business in exchange for Boehringer Ingelheim’s Consumer Healthcare business, based on a total consideration of €10,557 million.

(b) Income tax expense on the gain on divestment of the Animal Health business.

In accordance with the policies described in Note B.7., transactions between companies belonging to the Animal Health business and other consolidated companies are eliminated. The amount of transactions eliminated from the income statement is immaterial for the periods presented.

The table below presents basic and diluted earnings per share for the exchanged/held-for-exchange Animal Health business, in accordance with IAS 33 (Earnings Per Share):

(€ million)	2017		2016		2015
Net income/(loss) of the exchanged/held-for-exchange Animal Health business		4,643		314		(124)
Average number of shares outstanding (million)		1,256.9		1,286.6		1,306.2
Average number of shares after dilution (million)		1,266.8		1,296.0		1,320.7
– Basic earnings per share (in euros)		3.69		0.24		(0.10)
– Diluted earnings per share (in euros)		3.67		0.24		(0.09)

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Principal accountants' fees and services

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Principal accountants' fees and services

E/ Principal accountants’ fees and services

PricewaterhouseCoopers Audit and Ernst & Young et Autres served as independent auditors of Sanofi for the year ended December 31, 2017 and for all other reporting periods presented. The table below shows fees charged by those firms and member firms of their networks to Sanofi and consolidated subsidiaries in the years ended December 31, 2017 and 2016.

	Ernst & Young								PricewaterhouseCoopers
	2017				2016				2017				2016
(€ million)	Amount		%		Amount		%		Amount		%		Amount		%
Audit:
Statutory audit of separate and consolidated financial statements(a)		16.4		73%		16.7		92%		16.8		98%		16.8		97%
Services other than statutory audit(b)		6.0		27%		1.4		8%		0.4		2%		0.6		3%
Audit-related services(c)		4.9				0.6				0.4				0.4
Tax		-				-				-				-
Other services		1.1				0.8				-				0.2
Total		22.4		100%		18.1		100%		17.2		100%		17.4		100%

(a) Includes services provided by the independent auditors of the parent company and French subsidiaries: Ernst & Young: €7.6 million in 2017 and €7.0 million in 2016; PricewaterhouseCoopers €7.8 million in 2017 and €7.4 million in 2016.

(b) Services other than statutory audit provided by Ernst & Young et Autres during 2017 comprised:

- work on share capital transactions and securities issues submitted to the Annual General Meeting (in extraordinary business) for approval;

- additional procedures to enable reports previously signed by the firm to be incorporated by reference; and

- agreed-upon and audit procedures in connection with a divestment.

Services other than statutory audit provided by PricewaterhouseCoopers Audit during 2017 comprised:

- work on share capital transactions and securities issues submitted to the Annual General Meeting (in extraordinary business) for approval;

- issuance of attestations;

- additional procedures to enable reports previously signed by the firm to be incorporated by reference;

- audit procedures in connection with an acquisition; and

- benchmarking.

(c) Includes services provided by the independent auditors of the parent company and French subsidiaries: Ernst & Young: €4.8 million in 2017 and €0.5 million in 2016; PricewaterhouseCoopers €0.3 million in 2017 and €0.1 million in 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

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

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:

Europe	Financial interest (%) as of December 31, 2017
Hoechst GmbH	Germany	100.0
Zentiva Pharma GmbH	Germany	100.0
Zentiva Inhalationsprodukte GmbH	Germany	100.0
Sanofi-Aventis Deutschland GmbH	Germany	100.0
Aventis Beteiligungsverwaltung GmbH	Germany	100.0
Genzyme GmbH	Germany	100.0
Sanofi-Aventis GmbH	Austria	100.0
Sanofi Belgium	Belgium	100.0
Sanofi European Treasury Center	Belgium	100.0
Genzyme Flanders BVBA	Belgium	100.0
Sanofi-Aventis Denmark A/S	Denmark	100.0
Sanofi-Aventis SA	Spain	100.0
Sanofi Oy	Finland	100.0
Sanofi	France	100.0
Sanofi-Aventis France	France	100.0
Sanofi Winthrop Industries	France	100.0
Sanofi-Aventis Recherche et Développement	France	100.0
Sanofi-Aventis Groupe	France	100.0
Sanofi CLIR	France	50.1
Sanofi Chimie	France	100.0
Francopia	France	100.0
Sanofi-Aventis Europe SAS	France	100.0
Sanofi-Aventis Participations SAS	France	100.0
Genzyme SAS	France	100.0
Genzyme Polyclonals SAS	France	100.0
Sanofi Pasteur (France) SA	France	100.0
Aventis Pharma SA (France)	France	100.0
Sanofi-Aventis Am Nord SAS	France	100.0
Zentiva France	France	100.0
Aventis Agriculture	France	100.0
Biopark By Sanofi	France	100.0
Chattem Greece S.A.	Greece	100.0
Sanofi-Aventis A.E.B.E	Greece	100.0
Sanofi-Aventis Private Co, Ltd	Hungary	99.6
Chinoin Private Co. Ltd	Hungary	99.6
Carraig Insurance DAC	Ireland	100.0
Sanofi-Aventis Ireland Ltd	Ireland	100.0

Europe	Financial interest (%) as of December 31, 2017
Genzyme Ireland Limited	Ireland	100.0
Sanofi Spa	Italy	100.0
Genzyme Global Sarl	Luxembourg	100.0
Sanofi-Aventis Norge AS	Norway	100.0
Sanofi-Aventis Netherlands B.V.	Netherlands	100.0
Genzyme Europe BV	Netherlands	100.0
Sanofi-Aventis Sp. z.o.o.	Poland	100.0
Winthrop Farmaceutica Portugal Lda	Portugal	100.0
Sanofi Produtos Farmaceuticos Lda	Portugal	100.0
Zentiva, k.s.	Czech Republic	100.0
Zentiva Group, a.s.	Czech Republic	100.0
Sanofi-Aventis, s.r.o.	Czech Republic	100.0
Sanofi-Aventis Romania SRL	Romania	100.0
Sanofi-Synthelabo Ltd	United Kingdom	100.0
Sanofi Pasteur Holding Limited	United Kingdom	100.0
Chattem Limited (UK)	United Kingdom	100.0
Sanofi-Aventis UK Holdings Limited	United Kingdom	100.0
Genzyme Limited	United Kingdom	100.0
May and Baker Limited	United Kingdom	100.0
Aventis Pharma Limited	United Kingdom	100.0
Fisons Limited	United Kingdom	100.0
Limited Liability Zentiva Pharma	Russia	100.0
Sanofi-Aventis Vostok	Russia	100.0
AO Sanofi Russia	Russia	100.0
Zentiva a.s.	Slovakia	98.9
Sanofi-Aventis Pharma Slovakia s.r.o.	Slovakia	100.0
Sanofi AB	Sweden	100.0
Sanofi SA (Sanofi AG)	Switzerland	100.0
Sanofi-Aventis (Suisse) SA	Switzerland	100.0
Pharmaton	Switzerland	100.0
Zentiva Saglik Urunleri Sanayi ve Ticaret A.S.	Turkey	100.0
Sanofi-Aventis Ilaclari Limited Sirketi	Turkey	100.0
Sanofi Pasteur Asi Ticaret A.S.	Turkey	100.0
Sanofi-Aventis Ukraine	Ukraine	100.0

United States	Financial interest (%) as of December 31, 2017
Sanofi US Services Inc	United States	100.0
Sanofi-Aventis US LLC	United States	100.0
Sanofi Pasteur Biologics, LLC	United States	100.0
Chattem, Inc.	United States	100.0

United States	Financial interest (%) as of December 31, 2017
Sanofi Pasteur VaxDesign Corporation	United States	100.0
Carderm Capital L.P.	United States	100.0
Aventisub LLC	United States	100.0
Genzyme Corporation	United States	100.0
Armour Pharmaceutical Company	United States	100.0
Sanofi Pasteur Inc.	United States	100.0
Protein Sciences Corporation	United States	100.0
Aventis Inc.	United States	100.0
VaxServe, Inc.	United States	100.0

Other Countries	Financial interest (%) as of December 31, 2017
Sanofi-Aventis South Africa (Pty) Ltd	South Africa	100.0
Zentiva South Africa (Pty) Ltd	South Africa	100.0
Sanofi-Aventis Algérie	Algeria	100.0
Winthrop Pharma Saidal SPA	Algeria	70.0
Sanofi-Aventis Argentina S.A.	Argentina	100.0
Genzyme de Argentina SA	Argentina	100.0
Sanofi-Aventis Healthcare Pty Ltd	Australia	100.0
Sanofi-Aventis Australia Pty Ltd	Australia	100.0
Medley Farmaceutica Ltda	Brazil	100.0
Sanofi-Aventis Farmaceutica Ltda	Brazil	100.0
Sanofi-Aventis Canada Inc.	Canada	100.0
Sanofi Consumer Health Inc	Canada	100.0
Sanofi Pasteur Limited (Canada)	Canada	100.0
Sanofi-Aventis de Chile SA	Chile	100.0
Sanofi (Hangzhou) Pharmaceuticals Co., Ltd	China	100.0
Sanofi (China) Investment Co., Ltd	China	100.0
Sanofi Beijing Pharmaceuticals Co.Ltd	China	100.0
Shenzhen Sanofi pasteur Biological Products Co, Ltd	China	100.0
Winthrop Pharmaceuticals de Colombia SA	Colombia	100.0
Genfar S.A.	Colombia	100.0
Sanofi-Aventis de Colombia S.A.	Colombia	100.0
Sanofi-Aventis Korea Co. Ltd	South Korea	100.0
Genzyme Korea Co Ltd	South Korea	100.0
Sanofi-Aventis Gulf FZE	United Arab Emirates	100.0
Sanofi-Aventis del Ecuador S.A.	Ecuador	100.0
Sanofi Egypt S.A.E	Egypt	99.8
Sanofi-Aventis de Guatemala S.A.	Guatemala	100.0
Sunstone China Limited	Hong Kong	100.0
Sanofi-Aventis Hong-Kong Limited	Hong Kong	100.0
Sanofi-Synthelabo (India) Private Ltd	India	100.0
Sanofi India Limited	India	60.4

Other Countries	Financial interest (%) as of December 31, 2017
Shantha Biotechnics Private Ltd	India	98.7
PT Aventis Pharma	Indonesia	80.0
Sanofi-Aventis Israël Ltd	Israel	100.0
Sanofi K.K.	Japan	100.0
SSP Co., Ltd	Japan	100.0
Winthrop Pharmaceuticals (Malaysia) SDN. BHD.	Malaysia	100.0
Sanofi-Aventis (Malaysia) SDN. BHD.	Malaysia	100.0
Sanofi-Aventis Maroc	Morocco	100.0
Sanofi-Aventis de Mexico S.A de CV	Mexico	100.0
Sanofi-Aventis Winthrop SA de CV	Mexico	100.0
Sanofi Pasteur SA de CV	Mexico	100.0
Sanofi-Aventis Pakistan Ltd	Pakistan	52.9
Sanofi-Aventis de Panama S.A.	Panama	100.0
Sanofi-Aventis Latin America SA	Panama	100.0
Sanofi-Aventis del Peru SA	Peru	100.0
Genfar Peru S.A.	Peru	100.0
Sanofi-Aventis Philippines Inc	Philippines	100.0
Sanofi-Aventis de la Republica Dominicana S.A.	Dominican Republic	100.0
Sanofi-Aventis Singapore Pte Ltd	Singapore	100.0
Aventis Pharma (Manufacturing) PTE LTD	Singapore	100.0
Sanofi Taiwan Co Ltd	Taiwan	100.0
Zentiva (Thailand) limited	Thailand	100.0
Sanofi-Aventis Thailand Ltd	Thailand	100.0
Sanofi-Aventis Pharma Tunisie	Tunisia	100.0
Winthrop Pharma Tunisie	Tunisia	100.0
Sanofi-Aventis de Venezuela SA	Venezuela	100.0
Sanofi-Synthelabo Vietnam	Vietnam	70.0
Sanofi Vietnam Shareholding Company	Vietnam	100.0

F.2. Principal investments accounted for using the equity method

	Financial interest (%) as of December 31, 2017
Infraserv GmbH & Co. Höchst KG	Germany	31.2
Bristol-Myers Squibb / Sanofi Canada Partnership	Canada	49.9
China Resources Sanjiu Sanofi Consumer Healthcare Ltd	China	30.0
Bristol-Myers Squibb / Sanofi Pharmaceuticals Holding Partnership	United States	49.9
Bristol-Myers Squibb / Sanofi Pharmaceuticals Partnership	United States	49.9
Bristol-Myers Squibb / Sanofi Pharmaceuticals Partnership Puerto Rico	United States	49.9
Bristol-Myers Squibb / Sanofi-Synthélabo Partnership	United States	49.9
Bristol-Myers Squibb / Sanofi-Synthélabo Puerto Rico Partnership	United States	49.9
Regeneron Pharmaceuticals, Inc.	United States	22.2
Onduo LLC	United States	50.0
Maphar	Morocco	48.3
Bio Atrium AG	Switzerland	50.0

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Events subsequent to December 31, 2017

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Events subsequent to December 31, 2017

G/ Events subsequent to December 31, 2017

On January 7, 2018, Sanofi 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:

∎ Sanofi will obtain global development and commercialization rights to fitusiran, an investigational RNAi therapeutic currently in development for the treatment of people with hemophilia A and B. Global commercialization of fitusiran, upon approval, will be done by Sanofi Genzyme, Sanofi’s Specialty Care Global Business Unit. Alnylam will receive royalties based on net sales of fitusiran products.

∎ Alnylam will obtain global development and commercialization rights to its investigational RNAi therapeutics programs for the treatment of ATTR amyloidosis, including patisiran and ALN-TTRsc02. Sanofi will receive royalties based on net sales of those ATTR amyloidosis products.

∎ With respect to other products falling under the RNAi therapeutics alliance, the material terms of the 2014 Alnylam-Sanofi Genzyme alliance remain unchanged.

In January 2018, Sanofi 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.

(1) Non-GAAP financial measure: see definition in “— Item 5 — A.1.5. Segment information — 3/ Business Net Income”.

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Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Basis of consolidation

B.1. Basis of consolidation

In accordance with IFRS 10 (Consolidated Financial Statements), the consolidated financial statements of Sanofi include the financial statements of entities that Sanofi controls directly or indirectly, regardless of the level of the equity interest in those entities. An entity is controlled when Sanofi has power over the entity, exposure or rights to variable returns from its involvement with the entity, and the ability to affect those returns through its power over the entity. In determining whether control exists, potential voting rights must be taken into account if those rights are substantive, in other words they can be exercised on a timely basis when decisions about the relevant activities of the entity are to be taken.

Entities consolidated by Sanofi are referred to as “subsidiaries”. Entities that Sanofi controls by means other than voting rights are referred to as “consolidated structured entities”.

In accordance with IFRS 11 (Joint Arrangements), Sanofi classifies its joint arrangements (i.e. arrangements in which Sanofi exercises joint control with one or more other parties) either as a joint operation or a joint venture. In the case of a joint operation, Sanofi recognizes the assets and liabilities of the operation in proportion to its rights and obligations relating to those assets and liabilities. Joint ventures are accounted for using the equity method.

Sanofi exercises joint control over a joint arrangement when decisions relating to the relevant activities of the arrangement require the unanimous consent of Sanofi and the other parties with whom control is shared.

Sanofi exercises significant influence over an entity when it has the power to participate in the financial and operating policy decisions of that entity, but does not have the power to exercise control or joint control over those policies.

In accordance with IAS 28 (Investments in Associates and Joint Ventures), the equity method is used to account for joint ventures (i.e. entities over which Sanofi exercises joint control) and for associates (i.e. entities over which Sanofi exercises significant influence).

Under the equity method, the investment is initially recognized at cost, and subsequently adjusted to reflect changes in the net assets of the associate or joint venture. IAS 28 does not specify the treatment to be adopted on first-time application of the equity method to an investee following a step acquisition. Consequently, by reference to paragraph 10 of IAS 28, Sanofi has opted to apply the cost method, whereby the carrying amount of the investment represents the sum of the historical cost amounts for each step in the acquisition. As of the date on which the equity method is first applied, goodwill (which is included in the carrying amount of the investment) is determined for each acquisition step. The same applies to subsequent increases in the percentage interest in the equity-accounted investment.

When the criteria of IFRS 5 are met, Sanofi recognizes the equity interest within the balance sheet line item Assets held for sale or exchange. 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.

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.

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:

∎ Acquisition-related costs are recognized as an expense on the acquisition date, as a component of Operating income.

∎ Contingent consideration is recognized in equity if the contingent payment is settled by delivery of a fixed number of the acquirer’s equity instruments; otherwise, it is recognized in Liabilities related to business combinations. Contingent consideration is recognized at fair value at the acquisition date irrespective of the probability of payment. If the contingent consideration was originally recognized as a financial liability, subsequent adjustments to the liability are recognized in profit or loss in the line item Fair value remeasurement of contingent consideration, unless the adjustment is made within the twelve months following the acquisition date and relates to facts and circumstances existing as of that date. Subsequent contingent consideration adjustments in respect of business combinations completed before January 1, 2010 continue to be accounted for in accordance with the pre-revision IFRS 3 (i.e. through goodwill).

∎ In the case of a step acquisition, the previously-held equity interest is remeasured at its acquisition-date fair value. The difference between this fair value and the carrying amount is recorded in profit or loss, along with any gains or losses relating to the previously-held interest that were recognized in other comprehensive income and are reclassifiable to profit or loss.

∎ Goodwill may be calculated on the basis of either (i) the entire fair value of the acquiree, or (ii) a share of the fair value of the acquiree proportionate to the interest acquired. This option may be elected for each acquisition individually.

∎ The effects of (i) a buyout of non-controlling interests in a subsidiary already controlled by Sanofi, and (ii) a disposal of a percentage interest without loss of control, are recognized in equity.

∎ In a partial disposal resulting in loss of control, the retained equity interest is remeasured at fair value at the date of loss of control. The gain or loss recognized on the disposal includes the effect of that remeasurement, and items that were initially recognized in equity are reclassified to profit or loss.

∎ Adjustments to the values of assets and liabilities initially determined provisionally (pending the results of independent valuations or further analysis) are recognized as a retrospective adjustment to goodwill if they are made within twelve months of the acquisition date. Once this twelve-month period has elapsed, the effects of any adjustments are recognized directly in profit or loss, unless they qualify as an error correction.

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.

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.

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:

Buildings	15 to 40 years
Fixtures	10 to 20 years
Machinery and equipment	5 to 15 years
Other	3 to 15 years

Useful lives and residual values of property, plant and equipment are reviewed annually. The effect of any adjustment to useful lives or residual values is recognized prospectively as a change in accounting estimate.

Depreciation of property, plant and equipment is recognized as an expense in the income statement, in the relevant classification of expense by function.

Impairment of property, plant and equipment, intangible assets, and investments accounted for using the equity method

B.6. Impairment of property, plant and equipment, intangible assets, and investments accounted for using the equity method

B.6.1. Impairment of property, plant and equipment and intangible assets

In accordance with IAS 36 (Impairment of Assets), assets that generate separate cash flows and assets included in cash-generating units (CGUs) are assessed for impairment when events or changes in circumstances indicate that the asset or CGU may be impaired. A CGU is the smallest identifiable group of assets that generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Under IAS 36, each CGU to which goodwill is allocated must (i) represent the lowest level within the entity at which the goodwill is monitored for internal management purposes, and (ii) not be larger than an operating segment determined in accordance with IFRS 8 (Operating Segments), before application of the IFRS 8 aggregation criteria (see Note B.26.).

Quantitative and qualitative indications of impairment (primarily relating to the status of the research and development portfolio, pharmacovigilance, patent litigation, and the launch of competing products) are reviewed at the end of each reporting period. If there is any internal or external indication of impairment, Sanofi estimates the recoverable amount of the asset or CGU.

Other intangible assets not yet available for use (such as capitalized in-process 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.

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:

∎ the appropriate level of management must be committed to a plan to sell;

∎ an active program to locate a buyer and complete the plan must have been initiated;

∎ the asset must be actively marketed for sale at a price that is reasonable in relation to its current fair value;

∎ completion of the sale should be foreseeable within the twelve months following the date of reclassification to Assets held for sale or exchange; and

∎ actions required to complete the plan should indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn.

Before initial reclassification of the non-current 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:

∎ represents a separate major line of business or geographical area of operations; or,

∎ is part of a single coordinated plan to dispose of a separate major line of business or geographical area of operations; or,

∎ is a subsidiary acquired exclusively with a view to resale.

In accordance with IFRS 10, transactions between companies that are held for sale or treated as discontinued operations and other consolidated companies are eliminated.

Events or circumstances beyond Sanofi’s control may extend the period to complete the sale or exchange beyond one year without precluding classification of the asset (or disposal group) in Assets held for sale or exchange 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:

∎ The assets and liabilities previously classified as held for sale are reclassified to the appropriate balance sheet line items, with no restatement of comparative periods.

∎ Each asset is measured at the lower of (a) its carrying amount before the asset was reclassified as held for sale, adjusted for any depreciation, amortization or revaluation that would have been recognized if the asset had not been reclassified as held for sale, or (b) its recoverable amount at the date of reclassification.

∎ The backlog of depreciation, amortization and impairment not recognized while non-current assets were classified as held for sale must be reported in the same income statement line item that was used to report impairment losses arising on initial reclassification of assets as held for sale and gains or losses arising on the sale of such assets. In the consolidated income statement, those impacts are reported within the line item Other gains and losses, and litigation.

∎ The net income of a business previously classified as discontinued or as held for sale or exchange and reported on a separate line in the income statement must be reclassified and included in net income from continuing operations, for all periods presented.

∎ In addition, segment information relating to the income statement and the statement of cash flows (acquisitions of non-current assets) must be disclosed in the notes to the financial statements in accordance with IFRS 8 (Operating Segments), and must also be restated for all prior periods presented.

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.

			Method used to determine fair value
Note	Type of financial instrument	Measurement principle	Valuation model	Market data
				Exchange rate	Interest rate
D.7.	Available-for-sale financial assets (quoted equity securities)	Fair value	Quoted market price	N/A	N/A
D.7.	Available-for-sale financial assets (quoted debt securities)	Fair value	Quoted market price	N/A	N/A
D.7.	Available-for-sale financial assets (contingent consideration receivable):	Fair value	Under IAS 39, contingent consideration receivable on a divestment is a financial asset. The fair value of such assets is determined by adjusting the contingent consideration at the end of the reporting period using the method described in Note D.7.
D.7.	Long-term loans and advances and other non-current receivables	Amortized cost	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.
D.7.	Financial assets recognized under the fair value option(a)	Fair value	Market value (net asset value)	N/A	N/A
D.20.	Forward currency contracts	Fair value	Present value of future cash flows	Mid Market Spot	< 1 year: Mid Money Market > 1 year: Mid Zero Coupon
D.20.	Interest rate swaps	Fair value	Present value of future cash flows	Mid Market Spot	< 1 year: Mid Money Market > 1 year: Mid Zero Coupon
D.20.	Cross-currency swaps	Fair value	Present value of future cash flows	Mid Market Spot	< 1 year: Mid Money Market > 1 year: Mid Zero Coupon
D.13.	Investments in mutual funds	Fair value	Market value (net asset value)	N/A	N/A
D.13.	Negotiable debt instruments, commercial paper, instant access deposits and term deposits	Amortized cost	Because these instruments have a maturity of less than 3 months, amortized cost is regarded as an acceptable approximation of fair value as disclosed in the notes to the consolidated financial statements.
			In the case of debt with a maturity of less than 3 months, amortized cost is regarded as an acceptable approximation of fair value as reported in the notes to the consolidated financial statements.
D.17.	Debt	Amortized cost(b)	For debt with a maturity of more than 3 months, fair value as reported in the notes to the consolidated financial statements is determined either by reference to quoted market prices at the end of the reporting period (quoted instruments) or by discounting the future cash flows based on observable market data at the end of the reporting period (unquoted instruments).
D.18.	Liabilities related to business combinations and to non-controlling interests (CVRs)	Fair value	Quoted market price	N/A	N/A
D.18.	Liabilities related to business combinations and to non-controlling interests (other than CVRs)	Fair value(c)	Under IAS 32, contingent consideration payable in a business combination is a financial liability. The fair value of such liabilities is determined by adjusting the contingent consideration at the end of the reporting period using the method described in Note D.18.

(a) These assets are held to fund a deferred compensation plan offered to certain employees.

(b) In the case of debt designated as a hedged item in a fair value hedging relationship, the carrying amount in the consolidated balance sheet includes changes in fair value attributable to the hedged risk(s).

(c) For business combinations completed prior to application of the revised IFRS 3, contingent consideration is recognized when payment becomes probable (see Note B.3.1.).

The other financial assets and liabilities included in the consolidated balance sheet are:

∎ Non-derivative current financial assets and liabilities: because these items have a maturity close to the end of the reporting period, Sanofi regards their carrying amount (i.e. historical cost less any credit risk allowance) as a reasonable approximation of their fair value.

∎ Equity interests in companies not quoted in an active market and the fair value of which cannot be measured reliably, which are measured at amortized cost in accordance with IAS 39.

B.8.7. Derecognition of financial instruments

Financial assets are derecognized when the contractual rights to cash flows from the asset have ended or have been transferred and when Sanofi has transferred substantially all risks and rewards of ownership of the asset. If Sanofi has neither transferred nor retained substantially all the risks and rewards of ownership of a financial asset, it is derecognized if Sanofi does not retain control of the asset.

A financial liability is derecognized when Sanofi’s contractual obligations in respect of the liability are discharged, cancelled or extinguished.

B.8.8. Risks relating to financial instruments

Market risks in respect of non-current 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”.

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.

Cash and cash equivalents

B.10. Cash and cash equivalents

Cash and cash equivalents as shown in the consolidated balance sheet and statement of cash flows comprise cash, plus liquid short-term investments that are readily convertible into cash and are subject to an insignificant risk of changes in value in the event of movements in interest rates.

Treasury shares

B.11. Treasury shares

In accordance with IAS 32, Sanofi treasury shares are deducted from equity, irrespective of the purpose for which they are held. No gain or loss is recognized in the income statement on the purchase, sale, impairment or cancellation of treasury shares.

Provisions for risks

B.12. Provisions for risks

In accordance with IAS 37 (Provisions, Contingent Liabilities and Contingent Assets), Sanofi records a provision when it has a present obligation, whether legal or constructive, as a result of a past event; it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation; and a reliable estimate can be made of the amount of the outflow of resources.

If the obligation is expected to be settled more than twelve months after the end of the reporting period, or has no definite settlement date, the provision is recorded within Non-current 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.

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:

∎ Provisions for chargeback incentives are estimated on the basis of the relevant subsidiary’s standard sales terms and conditions, and in certain cases on the basis of specific contractual arrangements with the customer. They represent management’s best estimate of the amount of chargeback incentives that will ultimately be claimed by the customer.

∎ Provisions for rebates based on attainment of sales targets are estimated and accrued as each of the underlying sales transactions is recognized.

∎ Provisions for price reductions under Government and State programs, largely in the United States, are estimated on the basis of the specific terms of the relevant regulations or agreements, and accrued as each of the underlying sales transactions is recognized.

∎ Provisions for sales returns are calculated on the basis of management’s best estimate of the amount of product that will ultimately be returned by customers. In countries where product returns are possible, Sanofi operates a returns policy that allows the customer to return products within a certain period either side of the expiry date (usually 12 months after the expiry date). The provision is estimated on the basis of past experience of sales returns.

Sanofi also takes into account factors such as levels of inventory in its various distribution channels, product expiry dates, information about potential discontinuation of products, the entry of competing generics into the market, and the launch of over-the-counter 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:

∎ the nature and patient profile of the underlying product;

∎ the applicable regulations or the specific terms and conditions of contracts with governmental authorities, wholesalers and other customers;

∎ historical data relating to similar contracts, in the case of qualitative and quantitative rebates and chargeback incentives;

∎ past experience and sales growth trends for the same or similar products;

∎ actual inventory levels in distribution channels, monitored by Sanofi using internal sales data and externally provided data;

∎ the shelf life of Sanofi products; and

∎ market trends including competition, pricing and demand.

B.13.2. Other revenues

Other revenues mainly comprise royalties under licensing agreements (see Note C.), and VaxServe sales of products sourced from third-party manufacturers.

VaxServe is a Vaccines segment entity whose operations include the distribution within the United States of vaccines and other products manufactured by third parties.

Some sales recorded by VaxServe are presented within the line item Other revenues because they are not derived from the sale of products manufactured by Sanofi.

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.

Research and development

B.15. Research and development

Note B.4.1. “Research and development not acquired in a business combination” and Note B.4.3. “Other intangible assets acquired in a business combination” describe the principles applied to the recognition of research and development costs.

Contributions or reimbursements received from alliance partners are recorded as a reduction of Research and development expenses.

Other operating income and expenses

B.16. Other operating income and expenses

B.16.1. Other operating income

Other operating income 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.

Amortization and impairment of intangible assets

B.17. Amortization and impairment of intangible assets

B.17.1. Amortization of intangible assets

The expenses recorded in this line item comprise amortization of product rights (see Note D.4.), given that the benefit of those rights to Sanofi’s commercial, industrial and development functions cannot be separately identified.

Amortization of software, and of other rights of an industrial or operational nature, is recognized as an expense in the income statement, in the relevant line items of expense by function.

B.17.2. Impairment of intangible assets

This line item records impairment losses (other than those associated with restructuring) recognized against intangible assets (including goodwill, but excluding software and other rights of an industrial or operational nature), and any reversals of such impairment losses.

Fair value remeasurement of contingent consideration

B.18. Fair value remeasurement of contingent consideration

Changes in the fair value of contingent consideration that was (i) already carried in the books of an acquired entity, or (ii) granted in connection with a business combination and initially recognized as a liability in accordance with the revised IFRS 3, are reported in profit or loss in accordance with the principles described in Note B.3.1. Such adjustments are reported separately in the income statement, in the line item Fair value remeasurement of contingent consideration.

This line item also includes changes in the fair value of contingent consideration recognized in connection with divestments and classified as an available-for-sale 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.

Restructuring costs and similar items

B.19. Restructuring costs and similar items

Restructuring costs are expenses incurred in connection with the transformation or reorganization of Sanofi’s operations or support functions. Such costs include collective redundancy plans, compensation to third parties for early termination of contracts, and commitments made in connection with transformation or reorganization decisions. They also include accelerated depreciation charges arising from site closures and losses on asset disposals resulting from such decisions.

In addition, this line item includes expenses incurred in connection with programs implemented as part of the transformation strategy announced in November 2015 intended to deliver a global information systems solution, to standardize and consolidate processes, and to transition towards a worldwide services platform.

Other gains and losses, and litigation

B.20. Other gains and losses, and litigation

The line item Other gains and losses, and litigation 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:

∎ gains and losses on major disposals of property, plant and equipment, of intangible assets, of assets (or groups of assets and liabilities) held for sale, or of a business within the meaning of the revised IFRS 3, other than those considered to be restructuring costs;

∎ impairment losses and reversals of impairment losses on assets (or groups of assets and liabilities) held for sale, other than those considered to be restructuring costs;

∎ gains on bargain purchases; and

∎ costs and provisions relating to major litigation; and

∎ pre-tax separation costs associated with the process of disinvesting from operations in the event of a major divestment.

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.

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:

∎ Deferred tax assets and liabilities are recognized on taxable and deductible temporary differences, and on tax loss carry-forwards. Temporary differences are differences between the carrying amount of an asset or liability in the balance sheet and its tax base.

∎ French business taxes include a value added based component: “CVAE” (Cotisation sur la Valeur Ajoutée des Entreprises). Given that CVAE is (i) calculated as the amount by which certain revenues exceed certain expenses and (ii) borne primarily by companies that own intellectual property rights on income derived from those rights (royalties, and margin on sales to third parties and to Sanofi entities), it is regarded as meeting the definition of income taxes specified in IAS 12, paragraph 2 (“taxes which are based on taxable profits”).

∎ Deferred tax assets and liabilities are calculated using the tax rate expected to apply in the period when the corresponding temporary differences are expected to reverse, based on tax rates enacted or substantively enacted at the end of the reporting period.

∎ Deferred tax assets are recognized in respect of deductible temporary differences, tax losses available for carry-forward and unused tax credits to the extent that future recovery is regarded as probable. The recoverability of deferred tax assets is assessed on a case-by-case basis, taking into account the profit forecasts contained in Sanofi’s medium-term business plan.

∎ A deferred tax liability is recognized for temporary differences relating to interests in subsidiaries, associates and joint ventures, except in cases where Sanofi is able to control the timing of the reversal of the temporary differences. This applies in particular when Sanofi is able to control dividend policy and it is probable that the temporary differences will not reverse in the foreseeable future.

∎ No deferred tax is recognized on eliminations of intragroup transfers of interests in subsidiaries, associates or joint ventures.

∎ Each tax entity calculates its own net deferred tax position. All net deferred tax asset and liability positions are then aggregated and shown in separate line items on the relevant side of the consolidated balance sheet. Deferred tax assets and liabilities are offset only if (i) Sanofi has a legally enforceable right to offset current tax assets and current tax liabilities, and (ii) the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority.

∎ Deferred taxes are not discounted, except implicitly in the case of deferred taxes on assets and liabilities which are already impacted by discounting.

∎ Withholding taxes on intragroup royalties and dividends, and on royalties and dividends collected from third parties, are accounted for as current income taxes.

In accounting for business combinations, Sanofi complies with the revised IFRS 3 in regards to the recognition of deferred tax assets after the initial accounting period. Consequently, any deferred tax assets recognized by the acquiree after the end of this period in respect of temporary differences or tax loss carry-forwards existing at the acquisition date are recognized in profit or loss.

The positions adopted by Sanofi in tax matters are based on its interpretation of tax laws and regulations. Some of those positions may be subject to uncertainty. In such cases, Sanofi assesses the amount of the tax liability on the basis of the following assumptions: that its position will be examined by one or more tax authorities on the basis of all relevant information; that a technical assessment is carried out with reference to legislation, case law, regulations, and established practice; and that each position is assessed individually (or collectively where appropriate), with no offset or aggregation between positions. Those assumptions are assessed on the basis of facts and circumstances existing at the end of the reporting period. When an uncertain tax position is considered probable, a tax liability is recognized (or a deferred tax asset is not recognized) measured using Sanofi’s best estimate. The amount of the liability includes any penalties and late payment interest. The line item Income tax expense 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”).

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.

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.

Earnings per share

B.25. Earnings per share

Basic earnings per share is calculated using the weighted average number of shares outstanding during the reporting period, adjusted on a time-weighted basis from the acquisition date to reflect the number of own shares held by Sanofi. Diluted earnings per share is calculated on the basis of the weighted average number of ordinary shares, computed using the treasury stock method.

This method assumes that (a) all outstanding dilutive options and warrants are exercised, and (b) Sanofi acquires its own shares at the quoted market price for an amount equivalent to the cash received as consideration for the exercise of the options or warrants, plus the expense arising on unamortized stock options.

Segment information

B.26. Segment information

In accordance with IFRS 8 (Operating Segments), the segment information reported by Sanofi is prepared on the basis of internal management data provided to the Chief Executive Officer, who is the chief operating decision maker. The performance of those segments is monitored individually using internal reports and common indicators.

Sanofi acquired the Consumer Healthcare operations of Boehringer Ingelheim (BI) on January 1, 2017, and during 2017 gradually integrated those operations into its Consumer Healthcare Global Business Unit (GBU); see Note A.5. Following completion of the integration process and with effect from December 31, 2017, Sanofi has identified our Consumer Healthcare business as an operating segment, the financial information for which is reported separately to, and reviewed separately by, the Chief Executive Officer. Until that date the results of the Consumer Healthcare business were included in the Pharmaceuticals segment, as described below.

Consequently, as of December 31, 2017 Sanofi has three operating segments: Pharmaceuticals, Consumer Healthcare and Human Vaccines (Vaccines).

The Pharmaceuticals segment comprises the commercial operations of the following global franchises: Specialty Care (Rare Diseases, Multiple Sclerosis, Oncology, Immunology), Diabetes & Cardiovascular, Established Prescription Products and Generics, together with research, development and production activities dedicated to our Pharmaceuticals segment. This segment also includes all associates whose activities are related to pharmaceuticals, in particular Regeneron.

The Consumer Healthcare segment comprises, for all geographical territories, the commercial operations for our Consumer Healthcare products, together with research, development and production activities dedicated to those products.

The Vaccines segment comprises, for all geographical territories (including from January 1, 2017 certain European territories previously included in the Sanofi Pasteur MSD joint venture), the commercial operations of Sanofi Pasteur, together with research, development and production activities dedicated to vaccines.

Inter-segment 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.

Management of capital

B.27. Management of capital

In order to maintain or adjust the capital structure, Sanofi can adjust the amount of dividends paid to shareholders, repurchase its own shares, issue new shares, or issue securities giving access to its capital.

The following objectives are defined under the terms of Sanofi’s share repurchase programs:

∎ the implementation of any stock option plan giving entitlement to purchase shares in the Sanofi parent company;

∎ the allotment or sale of shares to employees under statutory profit sharing schemes and employee savings plans;

∎ the consideration-free allotment of shares (i.e. restricted share plans);

∎ the cancellation of some or all of the repurchased shares;

∎ market-making in the secondary market by an investment services provider under a liquidity contract in compliance with the ethical code recognized by the Autorité des marchés financiers (AMF);

∎ the delivery of shares on the exercise of rights attached to securities giving access to the capital by redemption, conversion, exchange, presentation of a warrant or any other means;

∎ the delivery of shares (in exchange, as payment, or otherwise) in connection with mergers and acquisitions;

∎ the execution by an investment services provider of purchases, sales or transfers by any means, in particular via off-market trading; or

∎ any other purpose that is or may in the future be authorized under the applicable laws and regulations.

Sanofi is not subject to any constraints on equity capital imposed by third parties.

Total equity includes Equity attributable to equity holders of Sanofi 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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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Summary of Useful Lives of Property, Plant and Equipment

The customary useful lives of property, plant and equipment are as follows:

Buildings	15 to 40 years
Fixtures	10 to 20 years
Machinery and equipment	5 to 15 years
Other	3 to 15 years

Summary of Measurement Principles Applied to Financial Instruments

The table below shows the disclosures required under IFRS 7 relating to the measurement principles applied to financial instruments.

			Method used to determine fair value
Note	Type of financial instrument	Measurement principle	Valuation model	Market data
				Exchange rate	Interest rate
D.7.	Available-for-sale financial assets (quoted equity securities)	Fair value	Quoted market price	N/A	N/A
D.7.	Available-for-sale financial assets (quoted debt securities)	Fair value	Quoted market price	N/A	N/A
D.7.	Available-for-sale financial assets (contingent consideration receivable):	Fair value	Under IAS 39, contingent consideration receivable on a divestment is a financial asset. The fair value of such assets is determined by adjusting the contingent consideration at the end of the reporting period using the method described in Note D.7.
D.7.	Long-term loans and advances and other non-current receivables	Amortized cost	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.
D.7.	Financial assets recognized under the fair value option(a)	Fair value	Market value (net asset value)	N/A	N/A
D.20.	Forward currency contracts	Fair value	Present value of future cash flows	Mid Market Spot	< 1 year: Mid Money Market > 1 year: Mid Zero Coupon
D.20.	Interest rate swaps	Fair value	Present value of future cash flows	Mid Market Spot	< 1 year: Mid Money Market > 1 year: Mid Zero Coupon
D.20.	Cross-currency swaps	Fair value	Present value of future cash flows	Mid Market Spot	< 1 year: Mid Money Market > 1 year: Mid Zero Coupon
D.13.	Investments in mutual funds	Fair value	Market value (net asset value)	N/A	N/A
D.13.	Negotiable debt instruments, commercial paper, instant access deposits and term deposits	Amortized cost	Because these instruments have a maturity of less than 3 months, amortized cost is regarded as an acceptable approximation of fair value as disclosed in the notes to the consolidated financial statements.
			In the case of debt with a maturity of less than 3 months, amortized cost is regarded as an acceptable approximation of fair value as reported in the notes to the consolidated financial statements.
D.17.	Debt	Amortized cost(b)	For debt with a maturity of more than 3 months, fair value as reported in the notes to the consolidated financial statements is determined either by reference to quoted market prices at the end of the reporting period (quoted instruments) or by discounting the future cash flows based on observable market data at the end of the reporting period (unquoted instruments).
D.18.	Liabilities related to business combinations and to non-controlling interests (CVRs)	Fair value	Quoted market price	N/A	N/A
D.18.	Liabilities related to business combinations and to non-controlling interests (other than CVRs)	Fair value(c)	Under IAS 32, contingent consideration payable in a business combination is a financial liability. The fair value of such liabilities is determined by adjusting the contingent consideration at the end of the reporting period using the method described in Note D.18.

(a) These assets are held to fund a deferred compensation plan offered to certain employees.

(b) In the case of debt designated as a hedged item in a fair value hedging relationship, the carrying amount in the consolidated balance sheet includes changes in fair value attributable to the hedged risk(s).

(c) For business combinations completed prior to application of the revised IFRS 3, contingent consideration is recognized when payment becomes probable (see Note B.3.1.).

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Changes in the scope of consolidation due to acquisitions and divestments (Tables)

12 Months Ended

Dec. 31, 2017

Boehringer Ingelheim's Consumer Healthcare Business [Member]

Statement [LineItems]

Schedule of Purchase Price Allocation

The final purchase price allocation for the acquisition of Boehringer Ingelheim’s CHC business is as follows (in € million):

(€ million)	Fair value at acquisition date
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 of Boehringer Ingelheim’s CHC business as of January 1, 2017		4,017
Goodwill		2,222
Purchase price		6,239

Protein Sciences [Member]

Statement [LineItems]

Summary of Final Purchase Price Allocation

The provisional purchase price allocation resulted in the recognition of goodwill amounting to €125 million, as indicated below:

(€ million)	Fair value at acquisition date
Other intangible assets		776
Inventories		4
Other assets and liabilities		(15)
Net deferred tax position		(259)
Net assets of Protein Sciences as of August 25, 2017		506
Goodwill		125
Purchase price		631

European Vaccines business previously included in the Sanofi Pasteur MSD joint venture [Member]

Statement [LineItems]

Schedule of Purchase Price Allocation

The final purchase price allocation resulted in the recognition of goodwill amounting to €21 million, as presented in the table below:

(€ million)	Fair value at acquisition date
Other intangible assets		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

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Property, plant and equipment (Tables)

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Schedule of Property, Plant and Equipment (Including Assets Held Under Finance Leases)

Property, plant and equipment (including assets held under finance leases) comprise:

(€ million)	Land		Buildings		Machinery and equipment		Fixtures, fittings & other		Property, plant & equipment in process		Total
Gross value at January 1, 2015		372		6,915		9,419		2,215		1,959		20,880
Changes in scope of consolidation		(4)		1		(8)		1		(22)		(32)
Acquisitions and other increases		-		11		76		59		1,172		1,318
Disposals and other decreases		(3)		(4)		(17)		(126)		(23)		(173)
Currency translation differences		5		144		122		24		25		320
Transfers(a)		(1)		269		463		228		(1,083)		(124)
Reclassification of the Animal Health business(b)		(33)		(604)		(313)		(54)		(76)		(1,080)
Gross value at December 31, 2015		336		6,732		9,742		2,347		1,952		21,109
Acquisitions and other increases		-		9		48		51		1,232		1,340
Disposals and other decreases		(10)		(111)		(350)		(104)		(37)		(612)
Currency translation differences		1		81		36		(1)		15		132
Transfers(a)		-		247		558		128		(1,025)		(92)
Gross value at December 31, 2016		327		6,958		10,034		2,421		2,137		21,877
Changes in scope of consolidation		22		23		11		6		7		69
Acquisitions and other increases		-		10		63		54		1,267		1,394
Disposals and other decreases		(10)		(124)		(261)		(125)		(111)		(631)
Currency translation differences		(21)		(326)		(278)		(75)		(84)		(784)
Transfers(a)		-		227		576		169		(919)		53
Gross value at December 31, 2017		318		6,768		10,145		2,450		2,297		21,978
Accumulated depreciation & impairment at January 1, 2015		(17)		(2,979)		(5,780)		(1,549)		(159)		(10,484)
Changes in scope of consolidation		6		5		12		-		22		45
Depreciation expense		-		(376)		(607)		(208)		-		(1,191)
Impairment losses, net of reversals		-		(38)		(42)		(11)		(41)		(132)
Disposals and other decreases		-		3		15		122		13		153
Currency translation differences		-		(33)		(49)		(17)		-		(99)
Transfers(a)		-		34		90		(4)		(1)		119
Reclassification of the Animal Health business(b)		-		252		145		26		-		423
Accumulated depreciation & impairment at December 31, 2015		(11)		(3,132)		(6,216)		(1,641)		(166)		(11,166)
Depreciation expense		-		(356)		(595)		(190)		-		(1,141)
Impairment losses, net of reversals		(3)		(31)		(17)		(30)		(78)		(159)
Disposals and other decreases		3		107		348		100		33		591
Currency translation differences		-		(37)		(16)		(2)		(2)		(57)
Transfers(a)		4		22		16		6		26		74
Accumulated depreciation & impairment at December 31, 2016		(7)		(3,427)		(6,480)		(1,757)		(187)		(11,858)
Depreciation expense		-		(329)		(595)		(197)		-		(1,121)
Impairment losses, net of reversals		(11)		(45)		(177)		(6)		(15)		(254)
Disposals and other decreases		-		94		239		117		107		557
Currency translation differences		1		140		147		53		2		343
Transfers(a)		(3)		(45)		(19)		(14)		15		(66)
Accumulated depreciation & impairment at December 31, 2017		(20)		(3,612)		(6,885)		(1,804)		(78)		(12,399)
Carrying amount at December 31, 2015		325		3,600		3,526		706		1,786		9,943
Carrying amount at December 31, 2016		320		3,531		3,554		664		1,950		10,019
Carrying amount at December 31, 2017		298		3,156		3,260		646		2,219		9,579

(a) This line also includes the effect of the reclassification of assets to Assets held for sale or exchange.

(b) This line comprises the property, plant and equipment of the Animal Health business, reclassified to Assets held for sale or exchange as of December 31, 2015 in accordance with IFRS 5 (see Notes D.1. and D.36.).

Schedule of Amounts for Items of Property, Plant and Equipment Held under Finance Leases

The table below shows amounts for items of property, plant and equipment held under finance leases:

(€ million)	2017		2016		2015
Land		4		3		3
Buildings		102		102		101
Other		9		8		8
Total gross value		115		113		112
Accumulated depreciation and impairment		(87)		(79)		(69)
Carrying amount		28		34		43

Schedule of Future Minimum Lease Payment Schedule

As of December 31, 2017, the payment schedule is as follows:

	Payments due by period
(€ million)	Total		Less than 1 year		1 to 3 years		3 to 5 years		More than 5 years
Finance lease obligations
∎   principal		32		11		6		6		9
∎   interest		7		2		2		2		1
Total		39		13		8		8		10

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Goodwill and other intangible assets (Tables)

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Schedule of Movements in Goodwill

Movements in goodwill comprise:

(€ million)	Goodwill
Balance at January 1, 2015		39,197
Reclassification of the Animal Health business(a)		(1,510)
Currency translation differences		1,870
Balance at December 31, 2015		39,557
Acquisitions during the period		5
Currency translation differences		725
Balance at December 31, 2016		40,287
Acquisitions during the period		2,347
Other movements during the period		12
Currency translation differences		(2,382)
Balance at December 31, 2017		40,264

(a) Comprises the goodwill on the Animal Health business, presented within Assets held for sale or exchange as of December 31, 2016 and 2015.

Schedule of Movements in Other Intangible Assets

Movements in other intangible assets comprise:

(€ million)	Acquired R&D			Products, trademarks and other rights		Software		Total other intangible assets
Gross value at January 1, 2015		3,482			53,130		1,240		57,852
Acquisitions and other increases		1,179			912		154		2,245
Disposals and other decreases		(204)			(1,321)		(27)		(1,552)
Currency translation differences		189			3,610		35		3,834
Transfers(a)		(741)			653		11		(77)
Reclassification of the Animal Health business(b)		(51)			(4,982)		(182)		(5,215)
Gross value at December 31, 2015		3,854			52,002		1,231		57,087
Changes in scope of consolidation		-			465		-		465
Acquisitions and other increases		142			127		148		417
Disposals and other decreases		(305)	(d)		(687)		(73)		(1,065)
Currency translation differences		55			1,124		17		1,196
Transfers(a)		(97)			76		3		(18)
Gross value at December 31, 2016		3,649			53,107		1,326		58,082
Changes in scope of consolidation		-			4,546		1		4,547
Acquisitions and other increases		317			212		170		699
Disposals and other decreases		(39)			(450)		(62)		(551)
Currency translation differences		(200)			(3,814)		(51)		(4,065)
Transfers(a)		(48)			37		(16)		(27)
Gross value at December 31, 2017		3,679			53,638		1,368		58,685
Accumulated amortization & impairment at January 1, 2015		(2,041)			(40,352)		(916)		(43,309)
Amortization expense		-			(2,651)		(108)		(2,759)
Impairment losses, net of reversals(c)		(343)			(427)		(3)		(773)
Disposals and other decreases		204			1,257		27		1,488
Currency translation differences		(124)			(2,662)		(23)		(2,809)
Transfers(a)		-			39		(6)		33
Reclassification of the Animal Health business(b)		3			2,908		157		3,068
Accumulated amortization & impairment at December 31, 2015		(2,301)			(41,888)		(872)		(45,061)
Amortization expense		-			(1,712)		(104)		(1,816)
Impairment losses, net of reversals(c)		(60)			(137)		-		(197)
Disposals and other decreases		108			673		73		854
Currency translation differences		(41)			(931)		(12)		(984)
Transfers(a)		4			(2)		(1)		1
Accumulated amortization & impairment at December 31, 2016		(2,290)			(43,997)		(916)		(47,203)
Amortization expense		-			(1,886)		(112)		(1,998)
Impairment losses, net of reversals(c)		(95)			(215)		(3)		(313)
Disposals and other decreases		39			443		64		546
Currency translation differences		142			3,138		35		3,315
Transfers(a)		-			41		7		48
Accumulated amortization & impairment at December 31, 2017		(2,204)			(42,476)		(925)		(45,605)
Carrying amount at December 31, 2015		1,553			10,114		359		12,026
Carrying amount at December 31, 2016		1,359			9,110		410		10,879
Carrying amount at December 31, 2017		1,475			11,162		443		13,080

(a) The “Transfers” line mainly relates to acquired R&D that came into commercial use during the period and is being amortized from the date of marketing approval.

(b) Comprises the other intangible assets of the Animal Health business, now reclassified to Assets held for sale or exchange.

(c) See Note D.5.

(d) Includes the return of product rights to Hanmi Pharmaceutical Co. Ltd in 2016 (see Note D.21.1).

Detailed Information for Principal Marketed Products

The table below provides information about the principal marketed products, which were recognized in connection with business combinations and represented 85% of the carrying amount of that item as of December 31, 2017:

(€ million)	Gross value		Accumulated amortization & impairment		Carrying amount December 31, 2017		Amortization period (years)(a)		Residual amortization period (years)(b)		Carrying amount at December 31, 2016		Carrying amount at December 31, 2015
Genzyme		10,287		(6,453)		3,834		10		6		5,009		5,759
Boehringer Ingelheim Consumer Healthcare		3,683		(241)		3,442		16		16		-		-
Aventis		32,308		(31,724)		584		9		3		1,095		1,548
Chattem		1,217		(451)		766		23		16		930		956
Zentiva		961		(869)		92		9		4		128		187
Protein Sciences		765		(21)		744		13		13		-		-
Total: principal marketed products		49,221		(39,759)		9,462						7,162		8,450

(a) Weighted averages. The amortization periods for these products vary between 1 and 25 years.

(b) Weighted averages.

Amortization of Softwares Recognized in Income Statement

Amortization of other intangible assets is recognized in the income statement within the line item Amortization of intangible assets, 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:

(€ million)	2017(a)		2016(a)		2015(a)
Cost of sales		28		28		25
Research and development expenses		22		16		13
Selling and general expenses		53		56		52
Other operating expenses		9		5		4
Total		112		105		94

(a) The results of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36.

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Impairment of intangible assets and property, plant and equipment (Tables)

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Schedule of Allocation of Goodwill

The allocation of goodwill as of December 31, 2017 is shown below:

(€ million)	Pharmaceuticals		Consumer Healthcare		Vaccines		Total Sanofi
Goodwill		32,437		6,525		1,302		40,264

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Investments accounted for using the equity method (Tables)

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Summary of Investments in Associates and Joint Ventures

The table below sets forth Sanofi’s investments accounted for using the equity method:

(€ million)	% interest		2017		2016		2015
Regeneron Pharmaceuticals, Inc.(a)		22.2		2,512		2,548		2,245
Onduo LLC		50.0		141		181		-
Sanofi Pasteur MSD(b)/(c)		-		-		-		252
Infraserv GmbH & Co. Höchst KG(b)		31.2		73		79		85
Entities and companies managed by Bristol-Myers Squibb(d)		49.9		38		44		43
Other investments		-		99		38		51
Total				2,863		2,890		2,676

(a) See Note D.2.2.

(b) Joint ventures.

(c) See Notes B.1. and D.2.3.

(d) Under the terms of the agreements with BMS (see Note C.2.), Sanofi’s share of the net assets of entities majority-owned by BMS is recorded in Investments accounted for using the equity method.

Summary of Share of Profit or Loss and Other Comprehensive Income of Associates and Joint Ventures

The table below shows Sanofi’s overall share of (i) profit or loss and (ii) other comprehensive income from investments accounted for using the equity method, showing the split between associates and joint ventures in accordance with IFRS 12 (the amounts for each individual associate or joint venture are not material):

	2017				2016				2015
(€ million)	Joint ventures		Associates		Joint ventures		Associates		Joint ventures		Associates
Share of profit/(loss) from investments accounted for using the equity method(a)		20		84		20		114		31		(53)
Share of other comprehensive income from investments accounted for using the equity method		22		(303)		(3)		58		1		235
Total		42		(219)		17		172		32		182

(a) The Sanofi Pasteur MSD joint venture ceased to be accounted for by the equity method on March 8, 2016, the date on which it was announced that the joint venture was to be dissolved (see Notes B.1. and D.2.3.).

Summary of Principal Transactions and Balances with Related Parties

The principal transactions and balances with related parties are summarized below:

(€ million)	2017		2016		2015
Sales(a)		33		39		218
Royalties and other income(a)		100		156		91
Accounts receivable and other receivables		85		101		81
Purchases and other expenses (including research expenses)(a)		777		708		762
Accounts payable		197		161		196
Other liabilities		20		65		10

(a) For the year ended December 31, 2016, these items include transactions between Sanofi and SPMSD during the period from January 1, 2016 through March 8, 2016 (the date of the announcement that the joint venture was to be dissolved; see Notes B.1. and D.2.3.).

Summary of Financial Statements of Regeneron, After Adjustments to Comply With IFRS But Before Fair Value Remeasurements

Key items from the consolidated financial statements of Regeneron, after adjustments to comply with IFRS but before fair value remeasurements, are set forth below:

(€ million)	2017		2016		2015
Net sales and other revenues		5,200		4,393		3,698
Net income/(loss) for the period		815		714		232
Other comprehensive income for the period, net of taxes		12		(19)		(39)
Comprehensive income/(loss)		827		695		193

Disclosure of associates - Balance sheet lines

(€ million)	December 31, 2017		December 31, 2016		December 31, 2015
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
Consolidated shareholders’ equity of Regeneron		5,377		4,909		4,585

Summary of Reconciliation to Carrying Amount of Investment

The table below shows a reconciliation to the carrying amount of the investment:

(€ million)	December 31, 2017		December 31, 2016		December 31, 2015
% interest		22%		22%		22%
Share of equity attributable to Sanofi		1,193		1,084		1,012
Goodwill		810		835		779
Fair value remeasurements of assets and liabilities at the acquisition date		938		1,065		1,039
Other items(a)		(429)		(436)		(585)
Carrying amount of the investment in Regeneron		2,512		2,548		2,245

(a) Mainly comprised of the difference arising from Sanofi’s share of the accumulated profits and losses and other changes in the net assets of Regeneron for the periods prior to first-time application of the equity method, and thereafter (i) Sanofi’s share of the stock option expense recognized against equity in the books of Regeneron, and of the deferred taxes recognized against equity in respect of that expense in accordance with IAS 12 paragraph 68C and (ii) the effects of the elimination of internal profits between Sanofi and Regeneron.

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Other Non-current Assets (Tables)

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Summary of Other Non-current Assets

Other non-current assets comprise:

(€ million)	2017		2016		2015
Available-for-sale financial assets		2,182		1,583		1,609
Pre-funded pension obligations (Note D.19.1.)		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 instruments (Note D.20.)		63		102		120
Total		3,364		2,820		2,725

Summary of Stock Prices of Quoted Equity Investments Classified as Available-for-sale Financial Assets

A 10% decline in stock prices of quoted equity investments classified as available-for-sale financial assets would have had the following impact as of December 31, 2017:

(€ million)	Sensitivity
Other comprehensive income before tax		(156)
Income before tax		(1)
Total		(157)

Summary of Decline in the Quoted Market Prices of Other Available-for-sale Financial Assets

A 10% decline in the quoted market prices of Sanofi’s other available-for-sale financial assets combined with a simultaneous 0.5% rise in the yield curve would have had the following impact as of December 31, 2017:

(€ million)	Sensitivity
Other comprehensive income before tax		(13)
Income before tax		-
Total(a)		(13)

(a) Represents approximately 3.8% of the value of the assets involved.

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Assets and Liabilities Held for Sale or Exchange (Tables)

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Summary of Assets Held for Sale or Exchange, and Liabilities Related to Assets Held for Sale or Exchange

Assets held for sale or exchange, and liabilities related to assets held for sale or exchange, comprise:

(€ million)	Note		December 31, 2017		December 31, 2016		December 31, 2015
Animal Health business		D.36.		-		6,376		5,626
Other				34		45		126
Assets held for sale or exchange				34		6,421		5,752
Animal Health business		D.36.		-		1,165		983
Other				-		30		-
Liabilities related to assets held for sale or exchange				-		1,195		983

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Inventories (Tables)

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Schedule of Inventories

Inventories comprise the following:

	2017						2016						2015
(€ million)	Gross value		Write- down		Carrying amount		Gross value		Write- down		Carrying amount		Gross value		Write- down		Carrying amount
Raw materials		1,041		(79)		962		1,053		(104)		949		1,050		(90)		960
Work in process		4,348		(656)		3,692		4,512		(710)		3,802		4,043		(561)		3,482
Finished goods		2,340		(178)		2,162		2,341		(200)		2,141		2,282		(208)		2,074
Total		7,729		(913)		6,816		7,906		(1,014)		6,892		7,375		(859)		6,516

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Accounts Receivable (Tables)

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Summary of Accounts Receivable

An analysis of accounts receivable is set forth below:

(€ million)	December 31, 2017		December 31, 2016		December 31, 2015
Gross value		7,405		7,506		7,553
Allowances		(189)		(195)		(167)
Carrying amount		7,216		7,311		7,386

Summary of Gross Value of Overdue Receivables

The gross value of overdue receivables was €644 million as of December 31, 2017, versus €597 million as of December 31, 2016 and €677 million as of December 31, 2015.

	Overdue accounts		Overdue by:
(€ million)	Gross value		<1 month		1 to 3 months		3 to 6 months		6 to 12 months		> 12 months
December 31, 2017		644		247		143		113		48		93
December 31, 2016		597		133		103		121		42		198
December 31, 2015		677		171		147		117		83		159

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Other Current Assets (Tables)

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Schedule of Other Current Assets

An analysis of other current assets is set forth below:

(€ million)	2017		2016		2015
Taxes recoverable		832		1,034		1,006
Other receivables(a)		627		705		461
Prepaid expenses		336		333		300
Interest rate derivatives measured at fair value (see Note D.20.)		-		3		39
Currency derivatives measured at fair value (see Note D.20.)		133		105		59
Other current financial assets		77		31		13
Total		2,005		2,211		1,878

(a) This line mainly comprises advance payments to suppliers. The 2016 figure also includes the impact of the transactions finalized in 2016 for which payments were received in January 2017.

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Financial Assets and Liabilities Measured at Fair Value (Tables)

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Summary of Assets and Liabilities Measured at Fair Value

The table below shows the balance sheet amounts of assets and liabilities measured at fair value.

			2017						2016						2015
			Level in the fair value hierarchy						Level in the fair value hierarchy						Level in the fair value hierarchy
(€ million)	Note		Level 1		Level 2		Level 3		Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Financial assets measured at fair value
Quoted equity investments		D.7.		1,568		-		-		900		-		-		1,451		-		-
Unquoted equity investments		D.7.		-		-		123		-		-		112		-		-		102
Quoted debt securities		D.7.		199		-		-		113		-		-		56		-		-
Contingent consideration relating to divestments		D.7.		-		-		342		-		-		458		-		-		-
Financial assets recognized under the fair value option		D.7.		336		-		-		329		-		-		276		-		-
Non-current derivatives		D.7.		-		63		-		-		102		-		-		120		-
Current derivatives		D.11.		-		133		-		-		108		-		-		98		-
Mutual fund investments		D.13.		7,207		-		-		6,210		-		-		5,042		-		-
Total financial assets measured at fair value				9,310		196		465		7,552		210		570		6,825		218		102
Financial liabilities measured at fair value
CVRs issued in connection with the acquisition of Genzyme		D.18.		75		-		-		85		-		-		24		-		-
Bayer contingent purchase consideration arising from the acquisition of Genzyme		D.18.		-		-		701		-		-		1,013		-		-		1,040
MSD contingent consideration (European vaccines business)		D.18.		-		-		420		-		-		354		-		-		-
Other contingent consideration arising from business combinations		D.18.		-		-		81		-		-		1		-		-		6
Liabilities related to non-controlling interests		D.18.		-		-		92		-		-		123		-		-		181
Non-current derivatives				-		16		-		-		-		-		-		3		-
Current derivatives		D.19.5.		-		58		-		-		132		-		-		82		-
Total financial liabilities measured at fair value				75		74		1,294		85		132		1,491		24		85		1,227

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Cash and Cash Equivalents (Tables)

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Summary of Cash and Cash Equivalents

(€ million)	2017		2016		2015
Cash		472		1,077		1,361
Cash equivalents(a)		9,843		9,196		7,787
Cash and cash equivalents(b)		10,315		10,273		9,148

(a) As of December 31, 2017, cash equivalents mainly comprised (i) €7,207 million invested in euro and US dollar denominated money-market mutual funds (December 31, 2016: €6,210 million; December 31, 2015: €5,042 million); (ii) €1,346 million of term deposits (December 31, 2016: €1,469 million; December 31, 2015: €1,594 million); (iii) €505 million in commercial paper (December 31, 2016: €617 million; December 31, 2015: €461 million); and (iv) €556 million held by captive insurance and reinsurance companies in accordance with insurance regulations (December 31, 2016: €553 million; December 31, 2015: €385 million).

(b) Includes immaterial amounts held by Sanofi’s Venezuelan subsidiaries as of December 31, 2017 and December 31, 2016 (versus €90 million as of December 31, 2015); see Note A.4.

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Net Deferred Tax Position (Tables)

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Summary of Net Deferred Tax Position

An analysis of the net deferred tax position is set forth below:

(€ million)	2017		2016		2015
Deferred taxes on:
Consolidation adjustments (intragroup margin in inventory)		969		1,095		1,074
Provision for pensions and other employee benefits		1,263		1,538		1,522
Remeasurement of other acquired intangible assets(a)		(1,713)		(2,797)		(3,370)
Recognition of acquired property, plant and equipment at fair value		(36)		(44)		(48)
Equity interests in subsidiaries and investments in other entities(b)		(592)		(818)		(833)
Tax losses available for carry-forward		1,059		1,070		1,162
Stock options and other share-based payments		88		126		131
Accrued expenses and provisions deductible at the time of payment(c)		1,344		2,202		2,061
Other		303		5		120
Net deferred tax asset/(liability)		2,685		2,377		1,819

(a) Includes the following deferred tax liabilities as of December 31, 2017: €176 million relating to the remeasurement of the other intangible assets of Aventis, and €929 million relating to Genzyme.

(b) In some countries, Sanofi is liable for withholding taxes and other tax charges when dividends are distributed. Consequently, Sanofi recognizes a deferred tax liability on the reserves of French and foreign subsidiaries (approximately €51.0 billion) which it regards as likely to be distributed in the foreseeable future. In determining the amount of the deferred tax liability as of December 31, 2017, Sanofi took into account changes in the ownership structure of certain subsidiaries, and the effects of changes in the taxation of dividends in France following the ruling of the Court of Justice of the European Union in the Steria case and the resulting amendments to the 2015 Finance Act.

(c) Includes deferred tax assets related to restructuring provisions, amounting to €212 million as of December 31, 2017, €334 million as of December 31, 2016, and €394 million as of December 31, 2015.

Summary of Tax Losses Available for Carry-forward

The table below shows when tax losses available for carry-forward are due to expire:

(€ million)	Tax losses available for carry-forward(a)
2018		33
2019		6
2020		24
2021		55
2022		43
2023 and later		5,003
Total as of December 31, 2017		5,164
Total as of December 31, 2016		5,176
Total as of December 31, 2015		5,209

(a) Excluding tax loss carry-forwards on asset disposals. Such carry-forwards amounted to €7 million as of December 31, 2017, €13 million as of December 31, 2016 and zero as of December 31, 2015.

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Consolidated Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Summary of Treasury Shares Held

As of December 31, 2017, the share capital was €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:

	Number of shares (million)		% of share capital for the period
December 31, 2017		0.2		0.01%
December 31, 2016		20.0		1.55%
December 31, 2015		4.0		0.30%
January 1, 2015		9.5		0.72%

Summary of Movements Share Capital

Movements in the share capital of the Sanofi parent company over the last three years are set forth below:

Date	Transaction	Number of shares		Share capital(a)		Additional paid-in capital(a)		Reserves(a)
December 31, 2014			1,319,367,445		2,639		5,614		-
During 2015	Capital increase by exercise of stock subscription options(b)		9,000,127		18		555		-
During 2015	Capital increase by issuance of restricted shares(c)		3,071,173		6		(6)		-
Board meeting of April 29, 2015	Reduction in share capital by cancellation of treasury shares		(18,482,786)		(37)		(1,454)		-
Board meeting of October 28, 2015	Reduction in share capital by cancellation of treasury shares		(7,259,200)		(15)		(670)		-
December 31, 2015			1,305,696,759		2,611		4,039		-
During 2016	Capital increase by exercise of stock subscription options(b)		3,418,421		7		212		-
During 2016	Capital increase by issuance of restricted shares(c)		3,664,248		7		(7)		-
Board meeting of April 28, 2016	Reduction in share capital by cancellation of treasury shares		(22,561,090)		(45)		(1,655)		-
Board meeting of July 22, 2016	Capital increase reserved for employees		1,803,986		4		96		-
December 31, 2016			1,292,022,324		2,584		2,685		-
During 2017	Capital increase by exercise of stock subscription options(b)		3,764,646		8		215		-
During 2017	Capital increase by issuance of restricted shares(c)		3,394,574		7		(7)		-
Board meeting of April 27, 2017	Reduction in share capital by cancellation of treasury shares		(36,380,198)		(73)		(2,709)		-
Board meeting of July 28, 2017	Capital increase reserved for employees		1,621,098		3		103		-
Board meeting of December 14, 2017	Reduction in share capital by cancellation of treasury shares		(10,402,540)		(21)		(229)		(616)
December 31, 2017			1,254,019,904		2,508		58		(616)

(a) Amounts expressed in millions of euros.

(b) Shares issued on exercise of Sanofi stock subscription options.

(c) Shares vesting under restricted share plans and issued in the period.

Principal Characteristics of Restricted Share Plans

Restricted share plans are accounted for in accordance with the policies described in Note B.24.3. The principal characteristics of those plans are as follows:

	2017		2016		2015
Type of plan	Performance share plan		Performance share plan		Performance share plan
Date of Board meeting approving the plan		May 10, 2017		May 4, 2016		June 24, 2015
Total number of shares awarded		3,587,465		4,097,925		3,832,840
Of which plans subject to a 4-year service period		-		-		2,546,420
Fair value per share awarded(a)		-		-		79.52
Of which plans subject to a 3-year service period		3,587,465		4,097,925		1,286,420
Fair value per share awarded(a)		81.50		61.06		82.96
Fair value of plan at the date of grant (€ million)		292		250		309

(a) Quoted market price per share at the date of grant, adjusted for dividends expected during the vesting period.

Summary of Currency Translation Differences

Currency translation differences comprise the following:

(€ million)	2017		2016		2015
Attributable to equity holders of Sanofi		(1,439)		1,787		701
Attributable to non-controlling interests		(32)		(18)		(22)
Total		(1,471)		1,769		679

Summary of Movements within Other Comprehensive Income

Movements within other comprehensive income are shown below:

(€ million)	2017		2016		2015
Balance, beginning of period		973		45		(2,315)
Attributable to equity holders of Sanofi		992		67		(2,287)
Attributable to non-controlling interests		(19)		(22)		(28)
Actuarial gains/(losses):
∎   Actuarial gains/(losses) excluding investments accounted for using the equity method (see Note D.19.1.)		(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(b)		(118)		(128)		465
Available-for-sale financial assets:
∎   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
Cash flow hedges:
∎   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
Change in currency translation differences:
∎   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
Items subsequently reclassifiable to profit or loss		(2,563)		1,056		1,895
Balance, end of period		(1,708)		973		45
Attributable to equity holders of Sanofi		(1,674)		992		67
Attributable to non-controlling interests		(34)		(19)		(22)

(a) Includes the impact of changes in corporate income tax rates: €(127) million in 2017, €(37) million in 2016.

(b) Items not subsequently reclassifiable to profit or loss and attributable to the Animal Health business divested on January 1, 2017: €(3) million in 2016, €(6) million in 2015.

(c) Includes reclassifications to profit or loss: €(89) million in 2017, €447 million in 2016 and €(35) million in 2015.

(d) Includes reclassifications to profit or loss: €(23) million in 2017, €2 million in 2016 and €(3) million in 2015.

(e) Items subsequently reclassifiable to profit or loss and attributable to the Animal Health business divested on January 1, 2017: €(170) million in 2017 on divestment (comprising €(147) million of currency translation differences and €(23) million of cash flow hedges), €(51) million in 2016 and €(92) million in 2015.

Summary of Stock Purchase Option Plans Still Outstanding or Options Exercised

The table shows all Sanofi stock purchase option plans still outstanding or under which options were exercised in the year ended December 31, 2017.

Source

Date of grant

Number of options granted

Start date of exercise period

Expiry date

Exercise price (€)

Number of options outstanding as of 12/31/2017

Synthélabo

03/30/1999

716,040

03/31/2004

03/30/2019

38.08

104,701

Total

104,701

Disclosure of Stock Subscription Option Plan Outstanding and Option Exercised

The table shows all Sanofi stock subscription option plans still outstanding or under which options were exercised in the year ended December 31, 2017.

Source

Date of grant

Number of options granted

Start date of exercise period

Expiry date

Exercise price (€)

Number of options outstanding as of 12/31/2017

Sanofi-aventis

12/13/2007

11,988,975

12/14/2011

12/13/2017

62.33

-

Sanofi-aventis

03/02/2009

7,736,480

03/04/2013

03/01/2019

45.09

1,679,020

Sanofi-aventis

03/01/2010

8,121,355

03/03/2014

02/28/2020

54.12

2,726,260

Sanofi-aventis

03/09/2011

874,500

03/10/2015

03/09/2021

50.48

242,578

Sanofi

03/05/2012

814,050

03/06/2016

03/05/2022

56.44

528,001

Sanofi

03/05/2013

788,725

03/06/2017

03/05/2023

72.19

531,605

Sanofi

03/05/2014

1,009,250

03/06/2018

03/05/2024

73.48

863,815

Sanofi

06/24/2015

435,000

06/25/2019

06/24/2025

89.38

433,500

Sanofi

05/04/2016

402,750

05/05/2020

05/04/2026

75.90

401,500

Sanofi

05/10/2017

378,040

05/11/2021

05/10/2027

88.97

378,040

Total

7,784,319

Summary of Stock Options Outstanding at Each Balance Sheet Date

A summary of stock options outstanding at each balance sheet date, and of movements during the relevant periods, is presented below:

	Number of options		Weighted average exercise price per share (€)		Total (€ million)
Options outstanding at January 1, 2015		25,602,256		61.14		1,565
Options exercisable		22,225,731		60.79		1,351
Options granted		435,000		89.38		39
Options exercised		(9,033,607)		63.50		(573)
Options cancelled(a)		(179,634)		60.04		(11)
Options forfeited		(956,400)		70.38		(67)
Options outstanding at December 31, 2015		15,867,615		60.03		953
Options exercisable		13,028,045		57.56		750
Options granted		402,750		75.90		31
Options exercised		(3,441,429)		63.83		(220)
Options cancelled(a)		(161,863)		68.09		(11)
Options forfeited		(601,271)		67.00		(40)
Options outstanding at December 31, 2016		12,065,802		59.03		713
Options exercisable		9,646,903		54.67		527
Options granted		378,040		88.97		33
Options exercised		(3,796,788)		58.92		(224)
Options cancelled(a)		(130,312)		69.06		(9)
Options forfeited		(627,722)		62.33		(39)
Options outstanding at December 31, 2017		7,889,020		60.08		474
Options exercisable		5,812,165		52.93		308

(a) Mainly due to the grantees leaving Sanofi.

Summary of Options Outstanding and Exercisable

The table below provides summary information about options outstanding and exercisable as of December 31, 2017:

	Outstanding						Exercisable
Range of exercise prices per share	Number of options		Average residual life (years)		Weighted average exercise price per share (€)		Number of options		Weighted average exercise price per share (€)
From €30.00 to €40.00 per share		104,701		1.24		38.08		104,701		38.08
From €40.00 to €50.00 per share		1,679,020		1.16		45.09		1,679,020		45.09
From €50.00 to €60.00 per share		3,496,839		2.54		54.22		3,496,839		54.22
From €70.00 to €80.00 per share		1,796,920		6.37		73.64		531,605		72.19
From €80.00 to €90.00 per share		811,540		8.36		89.19		-		-
Total		7,889,020						5,812,165

Summary of Number of Shares Used to Compute Diluted Earnings Per Share

Diluted earnings per share is computed using the number of shares outstanding plus stock options with dilutive effect and restricted shares.

(million)	2017		2016		2015
Average number of shares outstanding		1,256.9		1,286.6		1,306.2
Adjustment for stock options with dilutive effect		2.7		2.6		6.0
Adjustment for restricted shares		7.2		6.8		8.5
Average number of shares used to compute diluted earnings per share		1,266.8		1,296.0		1,320.7

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Debt, Cash and Cash Equivalents (Tables)

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Summary of Changes in Financial Position

Changes in financial position during the period were as follows:

(€ million)	2017		2016		2015
Long-term debt		14,326		16,815		13,118
Short-term debt and current portion of long-term debt		1,275		1,764		3,436
Interest rate and currency derivatives used to hedge debt		(57)		(100)		(156)
Total debt		15,544		18,479		16,398
Cash and cash equivalents		(10,315)		(10,273)		(9,148)
Interest rate and currency derivatives used to hedge cash and cash equivalents		-		-		4
Debt, net of cash and cash equivalents		5,229		8,206		7,254

Summary of Reconciliation of Carrying Amount to Value on Redemption

Reconciliation of carrying amount to value on redemption

							Value on redemption
(€ million)	Carrying amount at December 31, 2017		Amortized cost		Adjustment to debt measured at fair value		December 31, 2017		December 31, 2016		December 31, 2015
Long-term debt		14,326		64		(81)		14,309		16,765		13,023
Short-term debt and current portion of long-term debt		1,275		-		-		1,275		1,764		3,422
Interest rate and currency derivatives used to hedge debt		(57)		-		50		(7)		(10)		(35)
Total debt		15,544		64		(31)		15,577		18,519		16,410
Cash and cash equivalents		(10,315)		-		-		(10,315)		(10,273)		(9,148)
Interest rate and currency derivatives used to hedge cash and cash equivalents		-		-		-		-	-			4
Debt, net of cash and cash equivalents		5,229		64		(31)		5,262		8,246		7,266

Disclosure Of Movement In Total Debt

The table below shows the movement in total debt during the period:

			Cash flows from financing activities				Other cash flows		Non-cash items
(€ million)	December 31, 2016		Repayments		New borrowings				Currency translation differences		Reclassification from non- current to current		Other items(a)		December 31, 2017
Long-term debt		16,815		(8)		41		-		(300)		(2,187)		(35)		14,326
Short-term debt and current portion of long-term debt		1,764		(2,360)		-		30		(337)		2,187		(9)		1,275
Interest rate and currency derivatives used to hedge debt		(100)		-		-		-		-		-		43		(57)
Total debt		18,479		(2,368)		41		30		(637)		-		(1)		15,544

(a) Includes fair value remeasurements.

Summary of Debt by Type Valuation of Redemptio

Debt, net of cash and cash equivalents by type, at value on redemption

	2017						2016						2015
(€ million)	Non- current		Current		Total		Non- current		Current		Total		Non- current		Current		Total
Bond issues		14,195		820		15,015		16,657		823		17,480		12,484		2,991		15,475
Other bank borrowings		81		203		284		61		715		776		477		176		653
Finance lease obligations		20		11		31		34		19		53		49		18		67
Other borrowings		13		4		17		13		4		17		13		9		22
Bank credit balances		-		237		237		-		203		203		-		228		228
Interest rate and currency derivatives used to hedge debt		(7)		-		(7)		(9)		(1)		(10)		(11)		(24)		(35)
Total debt		14,302		1,275		15,577		16,756		1,763		18,519		13,012		3,398		16,410
Cash and cash equivalents		-		(10,315)		(10,315)		-		(10,273)		(10,273)		-		(9,148)		(9,148)
Interest rate and currency derivatives used to hedge cash and cash equivalents		-		-		-		-		-		-		-		4		4
Debt, net of cash and cash equivalents		14,302		(9,040)		5,262		16,756		(8,510)		8,246		13,012		(5,746)		7,266

Summary of Debt by Maturity at Value on Redemption

Debt by maturity, at value on redemption

December 31, 2017			Current		Non-current
(€ million)	Total		2018		2019		2020		2021		2022		2023 and later
Bond issues		15,015		820		2,050		2,417		2,168		1,850		5,710
Other bank borrowings		284		203		8		25		4		4		40
Finance lease obligations		31		11		3		2		3		3		9
Other borrowings		17		4		-		-		-		-		13
Bank credit balances		237		237		-		-		-		-		-
Interest rate and currency derivatives used to hedge debt		(7)		-		(6)		(1)				-		-
Total debt		15,577		1,275		2,055		2,443		2,175		1,857		5,772
Cash and cash equivalents		(10,315)		(10,315)		-		-		-		-		-
Interest rate and currency derivatives used to hedge cash and cash equivalents		-		-		-		-		-		-		-
Debt, net of cash and cash equivalents		5,262		(9,040)		2,055		2,443		2,175		1,857		5,772

December 31, 2016			Current		Non-current
(€ million)	Total		2017		2018		2019		2020		2021		2022 and later
Bond issues		17,480		823		2,174		2,050		2,475		2,398		7,560
Other bank borrowings		776		715		16		8		14		-		23
Finance lease obligations		53		19		13		2		2		3		14
Other borrowings		17		4		-		-		-		-		13
Bank credit balances		203		203		-		-		-		-		-
Interest rate and currency derivatives used to hedge debt		(10)		(1)		(6)		(3)		-		-		-
Total debt		18,519		1,763		2,197		2,057		2,491		2,401		7,610
Cash and cash equivalents		(10,273)		(10,273)		-		-		-		-		-
Interest rate and currency derivatives used to hedge cash and cash equivalents		-		-		-		-		-		-		-
Debt, net of cash and cash equivalents		8,246		(8,510)		2,197		2,057		2,491		2,401		7,610

December 31, 2015			Current		Non-current
(€ million)	Total		2016		2017		2018		2019		2020		2021 and later
Bond issues		15,475		2,991		750		2,128		1,550		1,459		6,597
Other bank borrowings		653		176		438		8		12		14		5
Finance lease obligations		67		18		17		14		7		2		9
Other borrowings		22		9		-		-		-		-		13
Bank credit balances		228		228		-		-		-		-		-
Interest rate and currency derivatives used to hedge debt		(35)		(24)		(1)		(1)		(6)		(3)		-
Total debt		16,410		3,398		1,204		2,149		1,563		1,472		6,624
Cash and cash equivalents		(9,148)		(9,148)		-		-		-		-		-
Interest rate and currency derivatives used to hedge cash and cash equivalents		4		4		-		-		-		-		-
Debt, net of cash and cash equivalents		7,266		(5,746)		1,204		2,149		1,563		1,472		6,624

Summary of Debt by Interest Rate

The figures shown are values on redemption, before the effects of derivative instruments:

(€ million)	Total		2018		2019		2020		2021		2022		2023 and later
Fixed-rate debt		13,513		75		1,294		2,416		2,168		1,850		5,710
of which euro		11,418
of which US dollar		2,095
% fixed-rate		87%
Floating-rate debt (maturity based on contractual repricing date)		2,064		2,064		-		-		-		-		-
of which euro		1,550
of which US dollar		45
% floating-rate		13%
Debt		15,577		2,139		1,294		2,416		2,168		1,850		5,710
Cash and cash equivalents		(10,315)		(10,315)
of which euro		(8,205)
of which US dollar		(1,653)
% floating-rate		100%
Debt, net of cash and cash equivalents		5,262		(8,176)		1,294		2,416		2,168		1,850		5,710

Sanofi manages its net debt in two currencies: the euro and the US dollar. The floating-rate 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:

(€ million)	Total		2018		2019		2020		2021		2022		2023 and later
Fixed-rate debt		9,746		75		(256)		1,999		2,168		50		5,710
of which euro		8,068
of which US dollar		1,678
% fixed-rate		63%
Floating-rate debt (maturity based on contractual repricing date)		5,831		5,831		-		-		-		-		-
of which euro		4,900
of which US dollar		462
% floating-rate		37%
Debt		15,577		5,906		(256)		1,999		2,168		50		5,710
Cash and cash equivalents		(10,315)		(10,315)
of which euro		(8,205)
of which US dollar		(1,653)
% floating-rate		100%
Debt, net of cash and cash equivalents		5,262		(4,409)		(256)		1,999		2,168		50		5,710

Summary of Interest Rate of Debt Net of Cash and Cash Equivalents at Value on Redemption

The table below shows the fixed/floating rate split of debt, net of cash and cash equivalents at value on redemption after taking account of derivative instruments as of December 31, 2016 and 2015:

(€ million)	2016		%		2015%
Fixed-rate debt		13,651		74%		10,435	64%
Floating-rate debt		4,868		26%		5,975	36%
Debt		18,519		100%		16,410	100%
Cash and cash equivalents		(10,273)				(9,144)
Debt, net of cash and cash equivalents		8,246				7,266

Summary of Interest Rate Fluctuations of Debt Net of Cash and Cash Equivalents

The projected full-year sensitivity of debt, net of cash and cash equivalents to interest rate fluctuations for 2018 is as follows:

Change in euro and US dollar short-term interest rates	Impact on pre-tax net income (€ million)		Impact on pre-tax income/(expense) recognized directly in equity (€ million)
+100 bp		45		-
+25 bp		11		-
-25 bp		(11)		-
-100 bp		(45)		-

Summary of Debt by Currency

The table below shows debt, net of cash and cash equivalents by currency at December 31, 2017, before and after derivative instruments contracted to convert third party debt into the functional currency of the borrowing entity:

(€ million)	Before derivative instruments		After derivative instruments
Euro		4,763		4,763
US dollar		487		487
Indian rupee		(150)		(150)
Saudi riyal		102		102
Algerian dinar		138		138
Other currencies		(78)		(78)
Debt, net of cash and cash equivalents		5,262		5,262

Summary of Debt by Currency

The table below shows debt, net of cash and cash equivalents by currency at December 31, 2016 and 2015, after derivative instruments contracted to convert third party debt into the functional currency of the borrowing entity:

(€ million)	2016		2015
Euro		6,460		3,356
US dollar		2,565		4,221
Other currencies		(779)		(311)
Debt, net of cash and cash equivalents		8,246		7,266

Amount of Future Undiscounted Contractual Cash Flows Relating to Debt and Derivative Instruments Designated as Hedges of Debt

The table below shows the amount of future undiscounted contractual cash flows (principal and interest) relating to debt and to derivative instruments designated as hedges of debt:

December 31, 2017			Payments due by period
(€ million)	Total		2018		2019		2020		2021		2022		2023 and later
Debt		16,682		1,441		2,301		2,650		2,307		1,950		6,033
principal		15,509		1,201		2,062		2,444		2,175		1,857		5,770
interest(a)		1,173		240		239		206		132		93		263
Net cash flows related to derivative instruments		(51)		(38)		(32)		1		8		10		-
Total		16,631		1,403		2,269		2,651		2,315		1,960		6,033

(a) Interest flows are estimated on the basis of forward interest rates applicable as of December 31, 2017.

Future contractual cash flows are shown on the basis of the carrying amount in the balance sheet at the reporting date, without reference to any subsequent management decision that might materially alter the structure of Sanofi’s debt or its hedging policy.

The tables below show the amount of future undiscounted contractual cash flows (principal and interest) relating to debt and to derivative instruments designated as hedges of debt as of December 31, 2016 and 2015:

December 31, 2016			Payments due by period
(€ million)	Total		2017		2018		2019		2020		2021		2022 and later
Debt		19,937		1,951		2,477		2,304		2,708		2,537		7,960
Principal		18,451		1,678		2,217		2,054		2,491		2,401		7,610
Interest(a)		1,486		273		260		250		217		136		350
Net cash flows related to derivative instruments		(104)		(42)		(33)		(29)		(2)		1		1
Total		19,833		1,909		2,444		2,275		2,706		2,538		7,961

(a) Interest flows are estimated on the basis of forward interest rates applicable as of December 31, 2016.

December 31, 2015			Payments due by period
(€ million)	Total		2016		2017		2018		2019		2020		2021 and later
Debt		17,960		3,653		1,471		2,389		1,794		1,668		6,985
Principal		16,325		3,308		1,215		2,146		1,564		1,472		6,620
Interest(a)		1,635		345		256		243		230		196		365
Net cash flows related to derivative instruments		(165)		(78)		(38)		(26)		(21)		(2)		-
Total		17,795		3,575		1,433		2,363		1,773		1,666		6,985

(a) Interest flows are estimated on the basis of forward interest rates applicable as of December 31, 2015.

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Liabilities related to business combinations and to non-controllinginterests (Tables)

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Summary of Movements in Liabilities Related to Business Combinations and to Non-Controlling Interests

Movements in liabilities related to business combinations and to non-controlling interests are shown below:

(€ million)	Liabilities related to non-controlling interests(a)		CVRs issued in connection with the acquisition of Genzyme(b)		Bayer contingent consideration arising from the acquisition of Genzyme		MSD contingent consideration (European vaccines business)		Other		Total(d)
Balance at January 1, 2015		178		154		896		-		36		1,264
Payments made		-		-		(63)		-		(7)		(70)
Fair value remeasurements through profit or loss: (gain)/loss (including unwinding of discount)(c)		-		(143)		104		-		(14)		(53)
Other movements		(5)		-		-		-		(11)		(16)
Currency translation differences		8		13		103		-		2		126
Balance at December 31, 2015		181		24		1,040		-		6		1,251
New business combinations		-		-		-		354		-		354
Payments made		-		-		(137)		-		(3)		(140)
Fair value remeasurements through profit or loss: (gain)/loss (including unwinding of discount)(c)		-		58		78		-		(1)		135
Other movements		(58)		-		-		-		-		(58)
Currency translation differences		-		3		32		-		(1)		34
Balance at December 31, 2016		123		85		1,013		354		1		1,576
New business combinations(e)		-		-		-		-		85		85
Payments made		-		-		(165)		-		(61)		(226)
Fair value remeasurements through profit or loss: (gain)/loss (including unwinding of discount)(c)		-		1		(28)		71		(1)		43
Other movements		(28)		-		-		-		57		29
Currency translation differences		(3)		(11)		(119)		(5)		-		(138)
Balance at December 31, 2017		92		75		701		420		81		1,369

(a) Includes put options granted to non-controlling interests and commitment to future buyout of non-controlling interests held by BMS.

(b) Based on the quoted market price per CVR of $0.38 as of December 31, 2017 and 2016, and $0.11 as of December 31, 2015.

(c) Amounts reported within the income statement line item Fair value remeasurement of contingent consideration, and mainly comprising unrealized gains and losses.

(d) Portion due after more than one year: €1,026 million as of December 31, 2017 (€1,378 million as of December 31, 2016 and €1,121 million as of December 31, 2015); portion due within less than one year: €343 million as of December 31, 2017 (€198 million as of December 31, 2016 and €130 million as of December 31, 2015).

(e) Two potential payments of €42 million each relating to the acquisition of Protein Sciences, which are contingent on the attainment of specified performance criteria subsequent to the acquisition date.

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:

December 31, 2017			Payments due by period
(€ million)	Total		Less than 1 year		From 1 to 3 years		From 3 to 5 years		More than 5 years
Commitments relating to contingent consideration in connection with business combinations(a) and buyouts of non-controlling interests(b)		4,293		354		2,630		1,069		240

(a) Includes €1.4 billion for the Bayer contingent consideration (versus €1.8 billion as of December 31, 2016 and €1.9 billion as of December 31, 2015) and €2.2 billion for the CVRs issued in connection with the acquisition of Genzyme (versus €2.5 billion as of December 31, 2016 and €2.6 billion as of December 31, 2015).

(b) This line does not include put options granted to non-controlling interests.

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Provisions and other liabilities (Tables)

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Summary of Provisions and Other Non-current Liabilities

Non-current provisions and other non-current liabilities break down as follows:

(€ million)	Provisions for pensions & other post- employment benefits (D.19.1.)			Provisions for other long-term benefits		Restructuring provisions (D.19.2.)		Other provisions (D.19.3.)			Other non-current liabilities (D.19.4.)		Total
Balance at January 1, 2015		4,873			650		835		3,076			144		9,578
Changes in scope of consolidation		-			-		-		13			-		13
Increases in provisions and other liabilities		290	(a)		108		265		475	(b)		114		1,252
Provisions utilized		(366)	(a)		(73)		(16)		(130)			-		(585)
Reversals of unutilized provisions		(39)	(a)		(7)		(12)		(256)	(c)		(1)		(315)
Transfers		43			3		(317)		(57)			-		(328)
Reclassification of the Animal Health business(e)		(76)			(34)		(3)		(34)			(2)		(149)
Net interest related to employee benefits, and unwinding of discount		109			5		5		37			2		158
Unrealized gains and losses		-			-		-		-			5		5
Currency translation differences		124			26		5		22			13		190
Actuarial gains and losses on defined-benefit plans(d)		(650)			-		-		-			-		(650)
Balance at December 31, 2015		4,308			678		762		3,146			275		9,169
Increases in provisions and other liabilities		220	(a)		130		475		402	(b)		-		1,227
Provisions utilized		(294)	(a)		(86)		(7)		(195)			(2)		(584)
Reversals of unutilized provisions		1	(a)		(11)		(39)		(458)	(c)		-		(507)
Transfers		(85)			(6)		(450)		(182)			(67)		(790)
Net interest related to employee benefits, and unwinding of discount		108			6		4		29			2		149
Currency translation differences		10			9		(1)		35			8		61
Actuarial gains and losses on defined-benefit plans(d)		109			-		-		-			-		109
Balance at December 31, 2016		4,377			720		744		2,777			216		8,834
Changes in scope of consolidation		86			3		-		13			3		105
Increases in provisions and other liabilities		269	(a)		163		105		680	(b)		866		2,083
Provisions utilized		(732)	(a)		(97)		(7)		(137)			(8)		(981)
Reversals of unutilized provisions		(18)	(a)		(5)		(42)		(308)	(c)		-		(373)
Transfers		16			1		(282)		(58)			(7)		(330)
Net interest related to employee benefits, and unwinding of discount		87			4		3		27			4		125
Unrealized gains and losses		-			-		-		1			5		6
Currency translation differences		(156)			(39)		(7)		(114)			(29)		(345)
Actuarial gains and losses on defined-benefit plans(d)		30			-		-		-			-		30
Balance at December 31, 2017		3,959			750		514		2,881			1,050		9,154

(a) In the case of “Provisions for pensions and other post-employment benefits”, the “Increases in provisions and other liabilities” line corresponds to rights vesting in employees during the period, and past service cost; the “Provisions utilized” line corresponds to contributions paid into pension funds, and plan settlements; and the “Reversals of unutilized provisions” line corresponds to plan curtailments.

(b) Amounts charged during the period mainly comprise provisions to cover tax exposures in various countries, and changes to estimates of future expenditures on environmental risks.

(c) These reversals relate mainly to provisions for tax exposures, reversed either because (i) the statute of limitations deadline was reached during the reporting period or (ii) proceedings with tax authorities in various countries were resolved during the period with a more favorable outcome than initially anticipated.

(d) Amounts recognized in Other comprehensive income (see Note D.15.7.).

(e) This line comprises the relevant liabilities of the Animal Health business, reclassified as of December 31, 2015 to Liabilities related to assets held for sale or exchange, in accordance with IFRS 5 (see Notes D.1. and D.36.).

Summary of Financial and Demographic Assumptions

Those calculations were based on the following financial and demographic assumptions:

	2017									2016									2015
	France		Germany			USA		UK		France		Germany			USA		UK		France		Germany			USA		UK
Discount rate(a)/(b)		0.75% or 1.25%		0.75% or 1.25%			3.50%		2.50%		1.00% or 1.50%		1.00% or 1.50%			4.00%		2.75%		1.50% or 2.25%		1.50% or 2.25%			4.00%		4.00%
General inflation rate(c)		1.50%		1.50%			2.00%		3.10%		1.50%		1.50%			2.00%		3.15%		1.75%		1.75%			2.25%		3.15%
Pension benefit indexation		1.25% to 2.25%		1.50%			-		3.10%		1.25% to 2.25%		1.75%			-		3.15%		1.25% to 2.25%		1.75%			-		3.15%
Healthcare cost inflation rate		2.00%		-	(d)		5.81%		1.50%		2.00%		-	(d)		5.96%		1.50%		2.00%		-	(d)		6.10%		1.50%
Retirement age		62 to 67		62			55 to 70		60		62 to 67		62			55 to 70		60		62 to 67		62			55 to 70		60
Mortality table		TGH/ TGF 05		Heubeck RT 2005 G			RP2014 G. Scale MP2017		SAPS S2		TGH/ TGF 05		Heubeck RT 2005 G			RP2014 G. Scale MP2016		SAPS S2		TGH/ TGF 05		Heubeck RT 2005 G			RP2014 G. Scale MP2015		SAPS S2

(a) The discount rates used were based on market rates for high quality corporate bonds with a duration close to that of the expected benefit payments under the plans. The benchmarks used to determine discount rates were the same in 2017, 2016 and 2015.

(b) The rate depends on the duration of the plan (7 to 10 years and more than 10 years, respectively).

(c) Inflation for the euro zone is determined using the average break-even inflation rate of French and German government bonds, by reference to the duration of the principal plans.

(d) No post-employment healthcare benefits are provided in Germany.

Summary of Weighted Average Duration of Obligation for Pensions and Other Long-term Benefits in Principal Countries

The table below shows the duration of Sanofi’s obligations in the principal countries:

	2017								2016								2015
(years)	France		Germany		USA		UK		France		Germany		USA		UK		France		Germany		USA		UK
Weighted average duration		13		15		14		17		13		14		13		17		13		14		14		17

Summary of Sensitivity for Pensions and Other Post-employment Benefits to Changes in Key Actuarial Assumptions

The table below shows the sensitivity of Sanofi’s obligations for pensions and other post-employment benefits to changes in key actuarial assumptions:

(€ million)	Pensions and other post-employment benefits, by principal country
Measurement of defined-benefit obligation	Change in assumption		France		Germany		USA		UK
Discount rate		-0.50%		+156		+254		+190		+266
General inflation rate		+0.50%		+34		+343		+2		+206
Pension benefits indexation		+0.50%		+88		+332		+2		+147
Healthcare cost inflation rate		+0.50%		-		-		+35		-
Mortality table		+1 year		+59		+93		+71		+115

Reconciliation of Net Obligation in Respect of Sanofi's Pension and Other Post-Employment Benefit Plans

The table below reconciles the net obligation in respect of Sanofi’s pension and other post-employment benefit plans with the amounts recognized in the consolidated financial statements:

	Pensions and other post-employment benefits
(€ million)	2017		2016		2015
Measurement of the obligation:
Beginning of period		13,088		12,825		13,302
Reclassification of the Animal Health business(a)		-		-		(266)
Service cost		233		216		262
Interest cost		293		359		362
Actuarial losses/(gains) due to changes in demographic assumptions		(74)		(71)		(37)
Actuarial losses/(gains) due to changes in financial assumptions		543		928		(679)
Actuarial losses/(gains) due to experience adjustments		61		(18)		(13)
Plan amendments		33		(2)		18
Plan curtailments		2		(52)		(39)
Plan settlements specified in the terms of the plan		(108)		(49)		(61)
Plan settlements not specified in the terms of the plan		(90)		(254)		(6)
Benefits paid		(574)		(531)		(556)
Changes in scope of consolidation and transfers		145		71		36
Currency translation differences		(540)		(334)		502
Obligation at end of period		13,012		13,088		12,825
Fair value of plan assets:
Beginning of period		8,741		8,566		8,488
Reclassification of the Animal Health business(a)		-		-		(208)
Interest income on plan assets		206		251		254
Difference between actual return and interest income on plan assets		501		730		(79)
Administration costs		(9)		(9)		(13)
Plan settlements specified in the terms of the plan		(109)		(49)		(61)
Plan settlements not specified in the terms of the plan		(70)		(256)		(6)
Contributions from plan members		6		3		4
Employer’s contributions		582		168		225
Benefits paid		(424)		(405)		(415)
Changes in scope of consolidation and transfers		66		86		-
Currency translation differences		(384)		(344)		377
Fair value of plan assets at end of period		9,106		8,741		8,566
Net amount shown in the balance sheet:
Net obligation		3,906		4,347		4,259
Net amount shown in the balance sheet at end of period		3,906		4,347		4,259

	Pensions and other post-employment benefits
(€ million)	2017		2016		2015
Amounts recognized in the balance sheet:
Pre-funded obligations (see Note D.7.)		(53)		(30)		(49)
Obligations provided for		3,959		4,377		4,308
Net amount recognized at end of period		3,906		4,347		4,259
Benefit cost for the period:
Service cost		233		216		262
Past service cost		33		(2)		18
Net interest (income)/cost		87		108		108
(Gains)/losses on plan settlements not specified in the terms of the plan		(20)		2		-
Actuarial (gains)/losses on plan curtailments		2		(52)		(39)
Contributions from plan members		(6)		(3)		(4)
Administration costs and taxes paid during the period		9		9		13
Expense recognized directly in profit or loss		338		278		358
Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses)		30		109		(650)
Expense/(gain) for the period		368		387		(292)

(a) This line comprises the relevant assets and liabilities of the Animal Health business, reclassified as of December 31, 2015 to Assets held for sale or exchange and Liabilities related to assets held for sale or exchange, respectively, in accordance with IFRS 5 (see Notes D.1. and D.36.).

Net Liability in Respect of Pension Plans and Other Post-employment Benefits by Geographical Region

The tables below show Sanofi’s net liability in respect of pension plans and other post-employment benefits by geographical region:

December 31, 2017	Pensions and other post-employment benefits by geographical region
(€ million)	France		Germany		USA		UK		Other		Total
Measurement of obligation		2,363		3,611		2,699		3,032		1,307		13,012
Fair value of plan assets		991		2,390		1,775		2,926		1,024		9,106
Net amount shown in the balance sheet at end of period		1,372		1,221		924		106		283		3,906

December 31, 2016	Pensions and other post-employment benefits by geographical region
(€ million)	France		Germany		USA		UK		Other		Total
Measurement of obligation		2,361		3,535		2,874		3,065		1,253		13,088
Fair value of plan assets		857		2,304		1,760		2,866		954		8,741
Net amount shown in the balance sheet at end of period		1,504		1,231		1,114		199		299		4,347

December 31, 2015	Pensions and other post-employment benefits by geographical region
(€ million)	France		Germany		USA		UK		Other		Total
Measurement of obligation		2,270		3,502		2,986		2,948		1,119		12,825
Fair value of plan assets		841		2,216		1,806		2,852		851		8,566
Net amount shown in the balance sheet at end of period		1,429		1,286		1,180		96		268		4,259

Fair Value of Plans Assets relating to Pension Plans and Other Post-employment Plans

The table below shows the fair value of plan assets relating to Sanofi’s pension and other post-employment plans, split by asset category:

	2017		2016		2015
Securities quoted in an active market		98.0%		98.2%		97.0%
Cash and cash equivalents		2.2%		2.4%		2.7%
Equity instruments		25.2%		35.2%		35.6%
Bonds and similar instruments		64.1%		54.3%		52.8%
Real estate		3.3%		3.8%		3.5%
Derivatives		0.1%		(0.1)%		0.3%
Commodities		0.8%		1.3%		1.0%
Other		2.3%		1.3%		1.1%
Other securities		2.0%		1.8%		3.0%
Hedge funds		0.1%		-		1.5%
Insurance policies		1.9%		1.8%		1.5%
Total		100.0%		100.0%		100.0%

Service Cost for Pension and Other post-employment Benefit Plans, by Geographical Region

The tables below show the service cost for Sanofi’s pension and other post-employment benefit plans, by geographical region:

(€ million)	Pensions and other  post-employment benefits by geographical region
Service cost for 2017	France		Germany		USA		UK		Other		Total
Current service cost		74		50		53		-		56		233
Past service cost		-		-		36		-		(3)		33
Net interest cost/(income) including administration costs and taxes paid during the period		22		16		40		8		10		96
(Gains)/losses on plan settlements not specified in the terms of the plan		(17)		-		-		-		(3)		(20)
Actuarial (gains)/losses on plan curtailments		(6)		7		8		-		(7)		2
Contributions from plan members		-		-		-		-		(6)		(6)
Expense recognized directly in profit or loss		73		73		137		8		47		338
Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses)		35		(33)		77		(48)		(1)		30
Expense/(gain) for the period		108		40		214		(40)		46		368

(€ million)	Pensions and other post-employment benefits by geographical region
Service cost for 2016	France		Germany		USA		UK		Other		Total
Current service cost		70		42		62		-		42		216
Past service cost		-		-		-		-		(2)		(2)
Net interest cost/(income) including administration costs and taxes paid during the period		30		23		48		6		10		117
(Gains)/losses on plan settlements not specified in the terms of the plan		-		-		(2)		-		4		2
Actuarial (gains)/losses on plan curtailments		(51)		2		-		-		(3)		(52)
Contributions from plan members		-		-		-		-		(3)		(3)
Expense recognized directly in profit or loss		49		67		108		6		48		278
Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses)		70		1		(161)		165		34		109
Expense/(gain) for the period		119		68		(53)		171		82		387

(€ million)	Pensions and other post-employment benefits by geographical region
Service cost for 2015	France		Germany		USA		UK		Other		Total
Current service cost		78		47		74		14		49		262
Past service cost		16		1		-		-		1		18
Net interest cost/(income) including administration costs and taxes paid during the period		28		23		44		13		13		121
(Gains)/losses on plan settlements not specified in the terms of the plan		-		-		-		-		-		-
Actuarial (gains)/losses on plan curtailments		(38)		-		-		-		(1)		(39)
Contributions from plan members		-		-		-		(1)		(3)		(4)
Expense recognized directly in profit or loss		84		71		118		26		59		358
Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses)		(235)		(211)		(30)		(144)		(30)		(650)
Expense/(gain) for the period		(151)		(140)		88		(118)		29		(292)

Remeasurement of Net Defined-benefit (Asset)/Liability (Actuarial Gains and Losses)

An analysis of the “Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses)” line in the preceding tables is set forth below:

	2017								2016								2015
(€ million)	France		Germany		USA		UK		France		Germany		USA		UK		France		Germany		USA		UK
Actuarial gains/(losses) arising during the period(a)		(35)		33		(77)		48		(70)		(1)		161		(165)		235		210		30		144
Comprising:
Gains/(losses) on experience adjustments(b)		35		159		76		114		58		149		77		442		26		16		(116)		9
Gains/(losses) on demographic assumptions		-		-		20		53		(6)		-		79		-		10		-		46		(21)
Gains/(losses) on financial assumptions		(70)		(126)		(173)		(119)		(122)		(150)		5		(607)		199		194		100		156

(a) Gains and losses arising from changes in assumptions are due primarily to changes in the discount rate.

(b) Experience adjustments are mainly due to the effect of trends in the financial markets on plan assets.

Total Expense for Pensions and Other Post-employment Benefits Allocated between Income Statement Line Items

The total expense for pensions and other post-employment benefits is allocated between income statement line items as follows:

(€ million)	2017		2016		2015
Cost of sales		63		60		73
Research and development expenses		48		48		58
Selling and general expenses		95		113		132
Restructuring costs		45		(51)		(13)
Financial expenses		87		108		108
Total		338		278		358

Estimated Amounts of Employer's Contributions to Plan Assets

The estimated amounts of employer’s contributions to plan assets in 2018 are as follows:

(€ million)	France		Germany		USA		UK		Other		Total
Employer’s contributions in 2018 (estimate):
2018		5		36		-		45		50		136

Expected Timing of Benefit Payments under Pension and Other Post-employment Benefit Plans

The table below shows the expected timing of benefit payments under pension and other post-employment benefit plans for the next ten years:

(€ million)	France		Germany		USA		UK		Other		Total
Estimated future benefit payments:
2018		108		202		181		127		58		676
2019		90		208		134		131		54		617
2020		111		213		137		135		58		654
2021		118		217		140		139		59		673
2022		91		223		135		143		60		652
2023 to 2027		661		1,128		690		784		357		3,620

Timing of Future Payments in Respect of Unfunded Pension and Other Post-employment Benefit Plans

The table below shows estimates as of December 31, 2017 for the timing of future payments in respect of unfunded pension and other post-employment benefit plans:

			Payments due by period
(€ million)	Total		Less than 1 year		1 to 3 years		3 to 5 years		More than 5 years
Estimated payments		1,097		56		108		116		817

Movements in Restructuring Provisions Classified in Non-current and Current Liabilities

The table below shows movements in restructuring provisions classified in non-current and current liabilities:

(€ million)	2017		2016		2015
Balance, beginning of period		1,420		1,343		1,399
of which:
∎   Classified in non-current liabilities		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(a)		-		-		(12)
Unwinding of discount		3		4		6
Currency translation differences		(25)		9		12
Balance, end of period		1,086		1,420		1,343
Including:
∎   Classified in non-current liabilities		514		744		762
∎   Classified in current liabilities		572		676		581

(a) This line comprises the restructuring provisions of the Animal Health business, reclassified to Liabilities related to assets held for sale or exchange as of December 31, 2015 (see Notes D.1. and D.36.).

Timing of Future Termination Benefit Payments

The timing of future termination benefit payments is as follows:

December 31, 2017			Benefit payments by period
(€ million)	Total		Less than 1 year		1 to 3 years		3 to 5 years		More than 5 years
Employee termination benefits
∎   France		588		257		281		49		1
∎   Other countries		274		197		70		5		2
Total		862		454		351		54		3

December 31, 2016			Benefit payments by period
(€ million)	Total		Less than 1 year		1 to 3 years		3 to 5 years		More than 5 years
Employee termination benefits
∎   France		933		374		413		142		4
∎   Other countries		226		182		35		4		5
Total		1,159		556		448		146		9

December 31, 2015			Benefit payments by period
(€ million)	Total		Less than 1 year		1 to 3 years		3 to 5 years		More than 5 years
Employee termination benefits
∎   France		772		286		351		120		15
∎   Other countries		258		197		56		2		3
Total		1,030		483		407		122		18

Summary of Other Provisions

Other provisions include provisions for risks and litigation relating to environmental, tax, commercial and product liability matters.

(€ million)	2017		2016		2015
Tax exposures		1,031		1,077		1,530
Environmental risks and remediation		686		732		708
Product liability risks, litigation and other		1,164		968		908
Total		2,881		2,777		3,146

Current Provisions and Other Current Liabilities

Current provisions and other current liabilities comprise the following:

(€ million)	2017			2016		2015
Taxes payable		1,180	(a)		1,134		1,044
Employee-related liabilities		1,922			1,967		1,920
Restructuring provisions (see Note D.19.2.)		572			676		581
Interest rate derivatives (see Note D.20.)		-			2		4
Currency derivatives (see Note D.20.)		58			130		78
Amounts payable for acquisitions of non-current assets		387			451		684
Other current liabilities		5,087			5,815		5,131
Total		9,206			10,175		9,442

(a) See note D.19.4.

XML

Derivative financial instruments and market risks (Tables)

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Summary of Fair Value of Derivative Instruments

The table below shows the fair value of derivative instruments as of December 31, 2017, 2016 and 2015:

(€ million)	Non-current assets		Current assets		Total assets		Non-current liabilities		Current liabilities		Total liabilities		Fair value at Dec. 31, 2017 (net)		Fair value at Dec. 31, 2016 (net)		Fair value at Dec. 31, 2015 (net)
Currency derivatives		-		133		133		(4)		(58)		(62)		71		(22)		(19)
operating		-		28		28		-		(25)		(25)		3		(25)		16
financial		-		105		105		(4)		(33)		(37)		68		3		(35)
Interest rate derivatives		63		-		63		(12)		-		(12)		51		100		152
Total		63		133		196		(16)		(58)		(74)		122		78		133

Summary of Operating Currency Hedging Instruments

The table below shows operating currency hedging instruments in place as of December 31, 2017, with the notional amount translated into euros at the relevant closing exchange rate:

December 31, 2017					Of which derivatives designated as cash flow hedges						Of which derivatives not eligible for hedge accounting
(€ million)	Notional amount		Fair value		Notional amount		Fair value		Of which recognized in equity		Notional amount		Fair value
Forward currency sales		3,592		11		-		-		-		3,592		11
of which US dollar		1,043		15		-		-		-		1,043		15
of which Singapore dollar		870		1		-		-		-		870		1
of which Chinese yuan renminbi		327		(1)		-		-		-		327		(1)
of which Japanese yen		248		1		-		-		-		248		1
of which Saudi riyal		144		2		-		-		-		144		2
Forward currency purchases		1,649		(8)		-		-		-		1,649		(8)
of which Japanese yen		373		(3)		-		-		-		373		(3)
of which Singapore dollar		360		(4)		-		-		-		360		(4)
of which US dollar		205		(2)		-		-		-		205		(2)
of which Chinese yuan renminbi		196		-		-		-		-		196		-
of which Hungarian forint		81		1		-		-		-		81		1
Total		5,241		3		-		-		-		5,241		3

The above positions mainly hedge future material foreign-currency 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:

December 31, 2016					Of which derivatives designated as cash flow hedges			Of which derivatives not eligible for hedge accounting
(€ million)	Notional amount		Fair value		Notional amount	Fair value	Of which recognized in equity	Notional amount		Fair value
Forward currency sales		3,963		(25)	-	-	-		3,963		(25)
of which US dollar		1,850		(17)	-	-	-		1,850		(17)
of which Chinese yuan renminbi		453		(2)	-	-	-		453		(2)
of which Swiss franc		253		(1)	-	-	-		253		(1)
of which Japanese yen		206		5	-	-	-		206		5
of which Singapore dollar		156		1	-	-	-		156		1
Forward currency purchases		1,517		-	-	-	-		1,517		-
of which US dollar		400		1	-	-	-		400		1
of which Japanese yen		283		(2)	-	-	-		283		(2)
of which Singapore dollar		233		1	-	-	-		233		1
of which Swiss franc		84		-	-	-	-		84		-
of which Hungarian forint		82		-	-	-	-		82		-
Total		5,480		(25)	-	-	-		5,480		(25)

The table below shows operating currency hedging instruments in place as of December 31, 2015, with the notional amount translated into euros at the relevant closing exchange rate:

December 31, 2015					Of which derivatives designated as cash flow hedges						Of which derivatives not eligible for hedge accounting
(€ million)	Notional amount		Fair value		Notional amount		Fair value		Of which recognized in equity		Notional amount		Fair value
Forward currency sales		2,142		27		-		-		-		2,142		27
of which US dollar		672		(2)		-		-		-		672		(2)
of which Chinese yuan renminbi		339		1		-		-		-		339		1
of which Japanese yen		159		(1)		-		-		-		159		(1)
of which Russian rouble		130		22		-		-		-		130		22
of which Singapore dollar		114		-		-		-		-		114		-
Forward currency purchases		905		(11)		-		-		-		905		(11)
of which US dollar		204		-		-		-		-		204		-
of which Russian rouble		109		(9)		-		-		-		109		(9)
of which Singapore dollar		104		(1)		-		-		-		104		(1)
of which Hungarian forint		90		(1)		-		-		-		90		(1)
of which Chinese yuan renminbi		86		2		-		-		-		86		2
Total		3,047		16		-		-		-		3,047		16

Disclosure of Financial Currency Hedging Instruments in Place with Notional Amount Translated

The table below shows financial currency hedging instruments in place, with the notional amount translated into euros at the relevant closing exchange rate:

	2017						2016						2015
(€ million)	Notional amount		Fair value		Expiry		Notional amount		Fair value		Expiry		Notional amount		Fair value		Expiry
Forward currency sales		5,074		86				5,298		(28)				3,472		(44)
of which US dollar		3,542		50		2018		3,356		(37)		2017		2,171		(30)		2016
of which Japanese yen		867		34		2018		1,036		-		2017		612		(9)		2016
of which Australian dollar		281		1		2018		254		5		2017		266		(4)		2016
Forward currency purchases		4,657		(18)				5,980		31				2,623		9
of which Singapore dollar		2,281		(23)		2018		878		5		2017		310		-		2016
of which Canadian dollar		907		6		2018		-		-				145		(1)		2016
of which Czech koruna		431		6		2018		332		(1)		2017		245		(1)		2016
Total		9,731		68				11,278		3				6,095		(35)

Disclosure of Instruments

The table below shows instruments of this type in place as of December 31, 2017:

	Notional amounts by expiry date as of December 31, 2017																Of which designated as fair value hedges				Of which designated as cash flow hedges
(€ million)	2018		2019		2020		2021		2022		2023		Total		Fair value		Notional amount		Fair value		Notional amount		Fair value		Of which recognized in equity
Interest rate swaps
pay capitalized Eonia / receive 1.58%		-		1,550		-		-		-		-		1,550		58		1,550		58		-		-		-
pay capitalized Eonia / receive 0.06%		-		-		-		-		1,800		-		1,800		(6)		1,800		(6)		-		-		-
pay 1.81% / receive 3-month US dollar Libor		-		-		417		-		-		-		417		2		-		-		417		2		-
pay 3-month US dollar Libor / receive 2.22%		-		-		417		-		-		-		417		3		417		3		-		-		-
pay capitalized Eonia / receive 1.48%(a)		-		-		-		-		42		57		99		(6)		-		-		-		-		-
Total		-		1,550		834		-		1,842		57		4,283		51		3,767		55		417		2		-

(a) These interest rate swaps hedge fixed-rate bonds with a nominal of €99 million held in a Professional Specialized Investment Fund dedicated to Sanofi and recognized within “Loans, advances and other long-term receivables” (see Note D.7.).

The table below shows instruments of this type in place as of December 31, 2016:

	Notional amounts by expiry date as of December 31, 2016																Of which designated as fair value hedges				Of which designated as cash flow hedges
(€ million)	2017		2019		2020		2021		2022		2023		Total		Fair value		Notional amount		Fair value		Notional amount		Fair value		Of which recognized in equity
Interest rate swaps
pay capitalized Eonia / receive 1.58%		-		1,550		-		-		-		-		1,550		88		1,550		88		-		-		-
pay 3-month Euribor / receive 1.15%		428		-		-		-		-		-		428		3		428		3		-		-		-
pay 3-month US dollar Libor / receive 2.22%		-		-		475		-		-		-		475		10		475		10		-		-		-
pay 1.22% / receive 3-month & 6-month US dollar Libor		475		-		-		-		-		-		475		(2)		-		-		475		(2)		-
pay capitalized Eonia / receive -0.01%		-		-		-		-		300		-		300		1		300		1		-		-		-
Total		903		1,550		475		-		300		-		3,228		100		2,753		102		475		(2)		-

The table below shows instruments of this type in place as of December 31, 2015:

	Notional amounts by expiry date as of December 31, 2015																Of which designated as fair value hedges				Of which designated as cash flow hedges
(€ million)	2016		2017		2019		2020		2021		2022		Total		Fair value		Notional amount		Fair value		Notional amount		Fair value		Of which recognized in equity
Interest rate swaps
pay 1-month Euribor 0.26% / receive 2.73%		500		-		-		-		-		-		500		14		500		14		-		-		-
pay capitalized Eonia / receive 1.90%		1,000		-		1,550		-		-		-		2,550		128		2,550		128		-		-		-
pay 3-month Euribor / receive 1.15%		-		428		-		-		-		-		428		3		-		-		-		-		-
pay 3-month US dollar Libor / receive 2.22%		-		-		-		459		-		-		459		14		459		14		-		-		-
pay 1.22% / receive 3-month & 6-month US dollar Libor		-		459		-		-		-		-		459		(2)		-		-		459		(2)		(1)
Currency swaps hedging investments
pay JPY / receive €		175		-		-		-		-		-		175		(4)		-		-		-		-		-
pay USD / receive €		92		-		-		-		-		-		92		(1)		-		-		-		-
Total		1,767		887		1,550		459		-		-		4,663		152		3,509		156		459		(2)		(1)

Disclosure of Potential Effects of Netting Arrangements

The table below is prepared in accordance with the accounting policies described in Note B.8.3.:

	2017				2016				2015
(€ million)	Derivative financial assets		Derivative financial liabilities		Derivative financial assets		Derivative financial liabilities		Derivative financial assets		Derivative financial liabilities
Gross carrying amounts before offset (a)		196		(74)		210		(132)		218		(85)
Gross amounts offset (in accordance with IAS 32) (b)		-		-		-		-		-		-
Net amounts as reported in the balance sheet (a) – (b) = (c)		196		(74)		210		(132)		218		(85)
Effects of other netting arrangements (not fulfilling the IAS 32 criteria for offsetting) (d)
Financial instruments		(67)		67		(97)		97		(66)		66
Fair value of financial collateral		N/A		N/A		N/A		N/A		N/A		N/A
Net exposure (c) + (d)		129		(7)		113		(35)		152		(19)

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Off-balance sheet commitments (Tables)

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Summary of Off Balance Sheet Commitments Relating to Operating Activities

Off balance sheet commitments relating to Sanofi’s operating activities comprise the following:

December 31, 2017			Payments due by period
(€ million)	Total		Less than 1 year		1 to 3 years		3 to 5 years		More than 5 years
Operating leases(a)		1,452		294		407		284		467
Irrevocable purchase commitments(b)
∎   given(c)		5,500		3,101		1,021		483		895
∎   received		(181)		(87)		(56)		(10)		(28)
Research and development license agreements
∎   commitments related to R&D and other commitments(d)		951		577		342		10		22
∎   potential milestone payments(e)		1,907		84		246		941		636
Firm commitments under the agreement with BMS(f)		97		97		-		-		-
Total		9,726		4,066		1,960		1,708		1,992

(a) Operating leases as of December 31, 2017 include €127 million of commitments given to joint ventures.

(b) These comprise irrevocable commitments to suppliers of (i) property, plant and equipment, net of down-payments (see Note D.3.) and (ii) goods and services. As of December 31, 2016, irrevocable commitments amounted to €4,192 million given and €(229) million received (excluding the Animal Health business).

(c) Irrevocable purchase commitments given as of December 31, 2017 include €1,207 million of commitments to joint ventures.

(d) Commitments related to R&D, and other commitments, amounted to €1,572 million as of December 31, 2016 (excluding the Animal Health business).

(e) This line includes only potential milestone payments on projects regarded as reasonably possible, i.e. on projects in the development phase. Potential milestone payments as of December 31, 2016 amounted to €2,072 million (excluding the Animal Health business).

(f) See Note C.2.

Summary of Undrawn Credit Facilities

Undrawn credit facilities are as follows:

December 31, 2017			Expiry
(€ million)	Total		Less than 1 year		1 to 3 years		3 to 5 years	More than 5 years
General-purpose credit facilities		8,010		7		8,003	-	-

Summary of Amount of Guarantees Given and Received

The table below shows the amount of guarantees given and received:

(€ million)	2017		2016		2015
Guarantees given:		2,986		3,946		3,972
∎   Guarantees provided to banks in connection with credit facilities		1,318		2,189		2,260
∎   Other guarantees given		1,668		1,757		1,712
Guarantees received		(181)		(211)		(187)

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Provisions for discounts, rebates and sales returns (Tables)

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Summary of Movement in Provisions for Discounts, Rebates and Sales Returns

The table below shows movements in these items:

(€ million)	Government and State programs(a)		Government and GPO programs(b)		Chargeback incentives		Rebates and discounts		Sales returns		Other deductions		Total
Balance at January 1, 2015		1,439		312		221		876		393		6		3,247
Provision related to current period sales		4,912		1,954		4,131		5,913		585		31		17,526
Net change in provision related to prior period sales		(35)		-		(20)		(45)		35		-		(65)
Payments made		(4,295)		(1,636)		(4,001)		(5,672)		(541)		(31)		(16,176)
Currency translation differences		152		42		18		11		29		-		252
Reclassification of the Animal Health business(c)		-		-		-		(139)		(21)		(1)		(161)
Balance at December 31, 2015(d)		2,173		672		349		944		480		5		4,623
Provision related to current period sales		5,240		1,869		4,132		5,394		547		14		17,196
Net change in provision related to prior period sales		(6)		-		(8)		(20)		18		(1)		(17)
Payments made		(5,078)		(1,796)		(4,204)		(5,230)		(509)		(15)		(16,832)
Currency translation differences		69		26		11		23		14		-		143
Balance at December 31, 2016(d)		2,398		771		280		1,111		550		3		5,113
Provision related to current period sales		5,131		2,027		4,069		5,897		537		29		17,690
Net change in provision related to prior period sales		(46)		(11)		(8)		30		(11)		-		(46)
Payments made		(5,129)		(2,031)		(3,925)		(5,897)		(466)		(26)		(17,474)
Currency translation differences		(268)		(93)		(39)		(74)		(63)		-		(537)
Balance at December 31, 2017(d)		2,086		663		377		1,067		547		6		4,746

(a) Primarily the US government’s Medicare and Medicaid programs.

(b) Mainly rebates and other price reductions granted to healthcare authorities in the United States.

(c) This line comprises the provisions for discounts, rebates and sales returns of the Animal Health business, reclassified to Liabilities related to assets held for sale or exchange as of December 31 2015 in accordance with IFRS 5 (see Notes D.1. and D.36.).

(d) Provisions related to US net sales amount to €3,487 million as of December 31, 2017, €3,818 million as of December 31, 2016 and €3,584 million as of December 31, 2015.

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Personnel costs (Tables)

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Summary of Personal Costs

Total personnel costs include the following items:

(€ million)	2017		2016		2015
Salaries		6,592		6,424		6,473
Social security charges (including defined-contribution pension plans)		1,977		1,948		1,951
Stock options and other share-based payment expense		258		250		206
Defined-benefit pension plans		275		273		280
Other employee benefits		219		224		224
Total(a)		9,321		9,119		9,134

(a) Excludes personnel costs for the Animal Health business: immaterial in 2017, €0.6 billion for 2016 and 2015.

Summary of Employee Numbers by Function

Employee numbers by function as of December 31 are shown below:

	2017		2016		2015
Production		40,417		41,867		42,754
Research and development		14,764		15,148		15,384
Sales force		30,284		30,815		32,771
Marketing and support functions		21,101		19,029		18,180
Total(a)		106,566		106,859		109,089

(a) Excluding employees of the Animal Health business: 4 employees in 2017, 6,957 in 2016 and 6,542 in 2015.

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Restructuring costs and similar items (Tables)

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Summary of Restructuring Costs and Similar Items

Restructuring costs and similar items amounted to €731 million in 2017, €879 million in 2016 and €795 million in 2015, and comprise the following items:

(€ million)	2017(a)		2016(a)		2015(a)
Employee-related expenses		336		650		307
Expenses related to property, plant and equipment and to inventories		221		139		132
Compensation for early termination of contracts (other than contracts of employment)		61		31		7
Decontamination costs		(4)		3		1
Other restructuring costs		117		56		348
Total		731		879		795

(a) The results of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36.

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Financial expenses and income (Tables)

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Summary of Analysis of Financial Income and Expenses

An analysis of financial expenses and income is set forth below:

(€ million)	2017(a)		2016(a)		2015(a)
Cost of debt(b)		(277)		(274)		(331)
Interest income		56		56		57
Cost of debt, net of cash and cash equivalents		(221)		(218)		(274)
Non-operating foreign exchange gains/(losses)		(21)		(21)		-
Unwinding of discounting of provisions(c)		(33)		(33)		(44)
Net interest cost related to employee benefits		(92)		(114)		(114)
Gains/(losses) on disposals of financial assets		96		36		46
Impairment losses on financial assets, net of reversals		(7)		(487)(d)		(50)
Other		5		(19)		55
Net financial income/(expenses)		(273)		(856)		(381)
comprising: Financial expenses		(420)		(924)		(559)
Financial income		147		68		178

(a) The results of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36.

(b) Includes net gain on interest rate derivatives used to hedge debt: €69 million in 2017, €86 million in 2016 and €85 million in 2015.

(c) Primarily on provisions for environmental risks, restructuring provisions, and provisions for product-related risks (see Note D.19.).

(d) On October 5, 2016, Alnylam Pharmaceuticals, Inc. announced that it was terminating its revusiran development program, as a result of which its share price fell by 48% on October 6, 2016. Consequently, Sanofi recognized an impairment loss reflecting the difference between the historical acquisition cost of its shares in Alnylam and their market value. That impairment loss, which amounted to €457 million as of December 31, 2016, is included within the line “Impairment losses on financial assets, net of reversals”.

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Income tax expense (Tables)

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Summary of Allocation of Income Tax Expense Between Current and Deferred Taxes

The table below shows the allocation of income tax expense between current and deferred taxes:

(€ million)	2017(a)		2016(a)		2015(a)
Current taxes		(2,631)		(1,869)		(1,978)
Deferred taxes		909		543		1,269
Total		(1,722)		(1,326)		(709)
Income before tax and investments accounted for using the equity method		5,530		5,678		5,243

(a) The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36.

Summary of Difference Between Effective Tax Rate and Standard Corporate Income Tax Rate

The difference between the effective tax rate and the standard corporate income tax rate applicable in France is explained as follows:

(as a percentage)	2017(a)		2016(a)		2015(a)
Standard tax rate applicable in France		34.4		34.4		34.4
Difference between the standard French tax rate and the rates applicable to Sanofi(b)		(19.2)		(10.1)		(17.7)
Tax rate differential on intragroup margin in inventory(c)		(0.0)		(0.6)		1.7
Tax effects of the share of profits reverting to BMS (see Note D.32.)		(0.5)		(0.5)		(0.6)
Contribution on distributed income (3%) and associated changes(d)		(8.2)		2.0		2.1
CVAE tax in France(e)		1.3		1.1		1.3
Revisions to tax exposures and settlements of tax disputes		2.2		(4.8)		0.3
Fair value remeasurement of contingent consideration		1.1		0.4		(1.1)
Impact of US tax reform(f)		21.6		-		-
Other items(g)		(1.6)		1.5		(6.9)
Effective tax rate		31.1		23.4		13.5

(a) The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36.

(b) The difference between the French tax rate and tax rates applicable to foreign subsidiaries reflects the fact that Sanofi has operations in many countries, most of which have lower tax rates than France.

(c) When internal margin included in inventory is eliminated, a deferred tax asset is recognized on the basis of the tax rate applicable to the subsidiary that holds the inventory, which may differ from the tax rate of the subsidiary that generated the eliminated intragroup margin.

(d) In 2017, this line includes the consequences of the French Constitutional Council ruling of October 6, 2017 on the additional 3% contribution on dividends paid out in cash. In 2016 and 2015, entities liable to corporate income tax in France were liable to pay an additional tax contribution in respect of amounts distributed by the entity.

(e) Net impact on the effective tax rate (current taxes, impact of the tax deduction, and deferred taxes).

(f) For 2017, this line includes an expense of €1,193 million for the consequences of US tax reform, comprising the estimated tax charge on deemed repatriation attributable to the accumulated earnings of non-US operations payable over 8 years (€1,084 million) and a further expense of €109 million representing (i) the remeasurement of deferred taxes following the reduction in the corporate income tax rate and (ii) an adjustment to deferred taxes on the fair value of the reserves of Sanofi subsidiaries.

(g) For 2017, the “Other items” line includes the impact of changes to tax rates in France, Belgium and the Netherlands. For 2016, it includes the effects of changes in tax rates in various countries, particularly in France, Hungary, Italy, Japan and the United States. For 2015, it includes the impact (€161 million) of changes in the taxation of dividends in France following the ruling of the Court of Justice of the European Union in the Steria case and the resulting amendments to the 2015 Finance Act. This line also includes the net tax effect of taxable temporary differences associated with holdings in Sanofi subsidiaries. In determining the amount of the deferred tax liability for 2017, 2016 and 2015, Sanofi took into account changes in the ownership structure of certain subsidiaries.

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Related party transactions (Tables)

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Schedule of Compensation Paid to Key Management Personnel

The table below shows, by type, the compensation paid to key management personnel:

(€ million)	2017		2016		2015
Short-term benefits(a)		31		32		32
Post-employment benefits(b)		8		9		20
Share-based payment		15		22		14
Total recognized in profit or loss		54		63		66

(a) Compensation, employer’s social security contributions, directors’ attendance fees, and any termination benefits (net of reversals of termination benefit obligations).

(b) In 2015, includes the expense arising from the award of a deemed ten years of service to Olivier Brandicourt.

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Segment information (Tables)

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Schedule of Segment Results

The table below sets forth our segment results for the year ended December 31, 2017, based on our new segment reporting model:

	2017
(€ million)	Pharmaceuticals		Consumer Healthcare		Vaccines		Other		Total Sanofi
Net sales		25,122		4,832		5,101		-		35,055
Other revenues		287		-		862		-		1,149
Cost of sales		(6,728)		(1,648)		(2,798)		(271)		(11,445)
Research and development expenses		(4,056)		(123)		(557)		(736)		(5,472)
Selling and general expenses		(5,750)		(1,605)		(698)		(2,005)		(10,058)
Other operating income and expenses		34		94		(107)		(17)		4
Share of profit/(loss) from investments accounted for using the equity method		233		1		1		-		235
Net income attributable to non-controlling interests		(117)		(8)		-		-		(125)
Business operating income		9,025		1,543		1,804		(3,029)		9,343

Due to lack of available data and the too complex and significant adjustments that would be required (in particular to our reporting tools), the comparative information has not been restated to reflect the changes arising from our new segment reporting model. We have therefore also presented segment results for 2017 and comparative periods using our previous segment reporting model in the table below:

	2017
(€ million)	Pharmaceuticals(a)		Vaccines(b)		Other		Total Sanofi
Net sales		29,954		5,101		-		35,055
Other revenues		287		862		-		1,149
Cost of sales		(8,628)		(2,817)		-		(11,445)
Research and development expenses		(4,835)		(637)		-		(5,472)
Selling and general expenses		(9,176)		(881)		(1)		(10,058)
Other operating income and expenses		180		(108)		(68)		4
Share of profit/(loss) from investments accounted for using the equity method		234		1		-		235
Net income attributable to non-controlling interests		(125)		-		-		(125)
Business operating income		7,891		1,521		(69)		9,343

(a) Includes Consumer Healthcare and an allocation of global support function costs.

(b) Includes an allocation of global support function costs.

The table below sets forth our segment results for the year ended December 31, 2016, based on our previous segment reporting model:

	December 31, 2016
(€ million)	Pharmaceuticals(a)		Vaccines(b)		Other		Total Sanofi
Net sales		29,244		4,577		-		33,821
Other revenues		274		613		-		887
Cost of sales		(8,349)		(2,353)		-		(10,702)
Research and development expenses		(4,618)		(554)		-		(5,172)
Selling and general expenses		(8,743)		(743)		-		(9,486)
Other operating income and expenses		(1)		(14)		(112)		(127)
Share of profit/(loss) from investments accounted for using the equity method		129		48		-		177
Net income attributable to non-controlling interests		(112)		(1)		-		(113)
Business operating income		7,824		1,573		(112)		9,285

(a) Includes Consumer Healthcare and an allocation of global support function costs. Consumer Healthcare net sales were €3,330 million in 2016.

(b) Includes an allocation of global support function costs.

The table below sets forth our segment results for the year ended December 31, 2015, based on our previous segment reporting model:

	December 31, 2015
(€ million)	Pharmaceuticals(a)		Vaccines(b)/(c)		Other		Total Sanofi
Net sales		29,799		4,261		-		34,060
Other revenues		288		513		-		801
Cost of sales		(8,788)		(2,131)		-		(10,919)
Research and development expenses		(4,530)		(552)		-		(5,082)
Selling and general expenses		(8,656)		(726)		-		(9,382)
Other operating income and expenses		(121)		27		(114)		(208)
Share of profit/(loss) from investments accounted for using the equity method		146		23		-		169
Net income attributable to non-controlling interests		(125)		(1)		-		(126)
Business operating income		8,013		1,414		(114)		9,313

(a) Includes Consumer Healthcare and an allocation of global support function costs. Consumer Healthcare net sales were €3,492 million in 2015.

(b) Includes an allocation of global support function costs.

(c) Due to a change in accounting presentation, VaxServe sales of non-Sanofi products are included in Other revenues from 2016 onwards. The presentation of prior period Net sales and Other revenues has been amended accordingly (see Note B.13.).

Schedule of Reconciliation Between Business Operating Income for the Segments and Income Before Tax and Investments Accounted for Using the Equity Method

The table below, presented in compliance with IFRS 8, shows a reconciliation between aggregated “Business operating income” for the segments and Income before tax and investments accounted for using the equity method.

(€ million)	2017		2016		2015
Business operating income		9,343		9,285		9,313
Share of profit/(loss) from investments accounted for using the equity method(a)		(235)		(177)		(169)
Net income attributable to non-controlling interests(b)		125		113		126
Amortization and impairment of intangible assets		(2,159)		(1,884)		(2,904)
Fair value remeasurement of contingent consideration		(159)		(135)		53
Expenses arising from the impact of acquisitions on inventories(c)		(166)		-		-
Restructuring costs and similar items		(731)		(879)		(795)
Other gains and losses, and litigation(d)		(215)		211		-
Operating income		5,803		6,534		5,624
Financial expenses(e)		(420)		(924)		(559)
Financial income		147		68		178
Income before tax and investments accounted for using the equity method		5,530		5,678		5,243

(a) Excluding restructuring costs relating to investments accounted for using the equity method and expenses arising from the impact of acquisitions on investments accounted for using the equity method, and after elimination of Sanofi’s share of the business net income of Sanofi Pasteur MSD from the date when Sanofi and Merck announced their intention to end their joint venture (€52 million in 2016).

(b) Excluding (i) restructuring costs and (ii) other adjustments attributable to non-controlling interests.

(c) This line records the impact of the workdown of acquired inventories remeasured at fair value at the acquisition date.

(d) For 2017, this line includes an adjustment to a provision for vendor’s liability guarantees relating to past divestments.

For 2016, it includes the pre-tax gain on divestment of Sanofi’s interest in the Sanofi Pasteur MSD joint venture.

(e) For 2016, this line includes an impairment loss of €457 million taken against Sanofi’s equity investment in Alnylam Pharmaceuticals, Inc. (see Note D.29.).

Schedule of Acquisition of Intangible Assets, Property, Plant and Equipment and Investments Accounted for Using the Equity Method by Segment

Acquisitions of intangible assets and property, plant and equipment correspond to acquisitions paid for during the period.

	2017
(€ million)	Pharmaceuticals		Consumer Healthcare		Vaccines		Total Sanofi
Investments accounted for using the equity method		2,831		19		13		2,863
Acquisitions of property, plant and equipment		1,033		9		346		1,388
Acquisitions of other intangible assets		367		9		192		568

	2017
(€ million)	Pharmaceuticals		Vaccines		Total Sanofi
Investments accounted for using the equity method		2,850		13		2,863
Acquisitions of property, plant and equipment		1,042		346		1,388
Acquisitions of other intangible assets		376		192		568

	2016
(€ million)	Pharmaceuticals		Vaccines		Total Sanofi
Investments accounted for using the equity method		2,886		4		2,890
Acquisitions of property, plant and equipment		904		315		1,219
Acquisitions of other intangible assets		807		57		864

	2015
(€ million)	Pharmaceuticals		Vaccines		Total Sanofi
Investments accounted for using the equity method		2,422		254		2,676
Acquisitions of property, plant and equipment		945		258		1,203
Acquisitions of other intangible assets		1,533		36		1,569

Summary of Geographical Information on Net Sales and Non-Current Assets

In accordance with IFRS 8, the non-current assets reported below exclude financial instruments, deferred tax assets, and pre-funded pension obligations.

	2017
(€ million)	Total Sanofi		Europe		of which France		North America		of which United States		Other countries
Net sales		35,055		9,525		2,330		12,460		11,855		13,070
Non-current assets:
∎   property, plant and equipment		9,579		5,969		3,180		2,560		2,142		1,050
∎   goodwill		40,264
∎   other intangible assets		13,080		6,171				5,210				1,699

	2016
(€ million)	Total Sanofi		Europe		of which France		North America		of which United States		Other countries
Net sales		33,821		8,679		2,206		12,963		12,391		12,179
Non-current assets:
∎   property, plant and equipment		10,019		6,068		3,413		2,850		2,447		1,101
∎   goodwill		40,287
∎   other intangible assets		10,879		3,612				5,430				1,837

	2015
(€ million)	Total Sanofi		Europe		of which France		North America		of which United States		Other countries
Net sales(a)		34,060		9,861		2,248		12,369		11,764		11,830
Non-current assets:
∎   property, plant and equipment		9,943		5,956		3,480		2,879		2,498		1,108
∎   goodwill		39,557
∎   other intangible assets		12,026		3,719				5,980				2,327

(a) Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.).

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Exchanged/held-for-exchange Animal Health business (Tables)

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Summary of Assets and Liabilities Held for Sale or Exchange

In accordance with IFRS 5 (see Note B.7. and D.1.), all assets of the Animal Health business and all liabilities directly related to those assets were classified as of December 31, 2016 and 2015 in the line items Assets held for sale or exchange 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:

(€ million)	2016		2015
Assets
Property, plant and equipment		811		657
Goodwill		1,560		1,510
Other intangible assets		2,227		2,147
Investments accounted for using the equity method		12		6
Other non-current assets		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

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:

(€ million)	2017		2016		2015
Net sales		-		2,708		2,515
Gross profit		-		1,850		1,671
Operating income		-		678		101
Income before tax and investments accounted for using the equity method(a)		6,343		672		92
Income tax expense(b)		(1,700)		(359)		(216)
Net income/(loss) of the exchanged/held-for-exchange Animal Health business		4,643		314		(124)

(a) In 2017, this line shows the gain arising on the divestment of the Animal Health business in exchange for Boehringer Ingelheim’s Consumer Healthcare business, based on a total consideration of €10,557 million.

(b) Income tax expense on the gain on divestment of the Animal Health business.

Summary of Basic and Diluted Earnings Per Share for Held-for-Exchange Animal Health Business

The table below presents basic and diluted earnings per share for the exchanged/held-for-exchange Animal Health business, in accordance with IAS 33 (Earnings Per Share):

(€ million)	2017		2016		2015
Net income/(loss) of the exchanged/held-for-exchange Animal Health business		4,643		314		(124)
Average number of shares outstanding (million)		1,256.9		1,286.6		1,306.2
Average number of shares after dilution (million)		1,266.8		1,296.0		1,320.7
– Basic earnings per share (in euros)		3.69		0.24		(0.10)
– Diluted earnings per share (in euros)		3.67		0.24		(0.09)

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Principal accountants' fees and services (Tables)

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Disclosure Of accountants' fees and services

The table below shows fees charged by those firms and member firms of their networks to Sanofi and consolidated subsidiaries in the years ended December 31, 2017 and 2016.

	Ernst & Young								PricewaterhouseCoopers
	2017				2016				2017				2016
(€ million)	Amount		%		Amount		%		Amount		%		Amount		%
Audit:
Statutory audit of separate and consolidated financial statements(a)		16.4		73%		16.7		92%		16.8		98%		16.8		97%
Services other than statutory audit(b)		6.0		27%		1.4		8%		0.4		2%		0.6		3%
Audit-related services(c)		4.9				0.6				0.4				0.4
Tax		-				-				-				-
Other services		1.1				0.8				-				0.2
Total		22.4		100%		18.1		100%		17.2		100%		17.4		100%

(a) Includes services provided by the independent auditors of the parent company and French subsidiaries: Ernst & Young: €7.6 million in 2017 and €7.0 million in 2016; PricewaterhouseCoopers €7.8 million in 2017 and €7.4 million in 2016.

(b) Services other than statutory audit provided by Ernst & Young et Autres during 2017 comprised:

- work on share capital transactions and securities issues submitted to the Annual General Meeting (in extraordinary business) for approval;

- additional procedures to enable reports previously signed by the firm to be incorporated by reference; and

- agreed-upon and audit procedures in connection with a divestment.

Services other than statutory audit provided by PricewaterhouseCoopers Audit during 2017 comprised:

- work on share capital transactions and securities issues submitted to the Annual General Meeting (in extraordinary business) for approval;

- issuance of attestations;

- additional procedures to enable reports previously signed by the firm to be incorporated by reference;

- audit procedures in connection with an acquisition; and

- benchmarking.

(c) Includes services provided by the independent auditors of the parent company and French subsidiaries: Ernst & Young: €4.8 million in 2017 and €0.5 million in 2016; PricewaterhouseCoopers €0.3 million in 2017 and €0.1 million in 2016.

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F/ List of principal companies included in the consolidation during 2017 (Tables)

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Summary of Principal Companies and Their Country of Incorporation

The table below shows the principal companies and their country of incorporation:

Europe	Financial interest (%) as of December 31, 2017
Hoechst GmbH	Germany	100.0
Zentiva Pharma GmbH	Germany	100.0
Zentiva Inhalationsprodukte GmbH	Germany	100.0
Sanofi-Aventis Deutschland GmbH	Germany	100.0
Aventis Beteiligungsverwaltung GmbH	Germany	100.0
Genzyme GmbH	Germany	100.0
Sanofi-Aventis GmbH	Austria	100.0
Sanofi Belgium	Belgium	100.0
Sanofi European Treasury Center	Belgium	100.0
Genzyme Flanders BVBA	Belgium	100.0
Sanofi-Aventis Denmark A/S	Denmark	100.0
Sanofi-Aventis SA	Spain	100.0
Sanofi Oy	Finland	100.0
Sanofi	France	100.0
Sanofi-Aventis France	France	100.0
Sanofi Winthrop Industries	France	100.0
Sanofi-Aventis Recherche et Développement	France	100.0
Sanofi-Aventis Groupe	France	100.0
Sanofi CLIR	France	50.1
Sanofi Chimie	France	100.0
Francopia	France	100.0
Sanofi-Aventis Europe SAS	France	100.0
Sanofi-Aventis Participations SAS	France	100.0
Genzyme SAS	France	100.0
Genzyme Polyclonals SAS	France	100.0
Sanofi Pasteur (France) SA	France	100.0
Aventis Pharma SA (France)	France	100.0
Sanofi-Aventis Am Nord SAS	France	100.0
Zentiva France	France	100.0
Aventis Agriculture	France	100.0
Biopark By Sanofi	France	100.0
Chattem Greece S.A.	Greece	100.0
Sanofi-Aventis A.E.B.E	Greece	100.0
Sanofi-Aventis Private Co, Ltd	Hungary	99.6
Chinoin Private Co. Ltd	Hungary	99.6
Carraig Insurance DAC	Ireland	100.0
Sanofi-Aventis Ireland Ltd	Ireland	100.0

Europe	Financial interest (%) as of December 31, 2017
Genzyme Ireland Limited	Ireland	100.0
Sanofi Spa	Italy	100.0
Genzyme Global Sarl	Luxembourg	100.0
Sanofi-Aventis Norge AS	Norway	100.0
Sanofi-Aventis Netherlands B.V.	Netherlands	100.0
Genzyme Europe BV	Netherlands	100.0
Sanofi-Aventis Sp. z.o.o.	Poland	100.0
Winthrop Farmaceutica Portugal Lda	Portugal	100.0
Sanofi Produtos Farmaceuticos Lda	Portugal	100.0
Zentiva, k.s.	Czech Republic	100.0
Zentiva Group, a.s.	Czech Republic	100.0
Sanofi-Aventis, s.r.o.	Czech Republic	100.0
Sanofi-Aventis Romania SRL	Romania	100.0
Sanofi-Synthelabo Ltd	United Kingdom	100.0
Sanofi Pasteur Holding Limited	United Kingdom	100.0
Chattem Limited (UK)	United Kingdom	100.0
Sanofi-Aventis UK Holdings Limited	United Kingdom	100.0
Genzyme Limited	United Kingdom	100.0
May and Baker Limited	United Kingdom	100.0
Aventis Pharma Limited	United Kingdom	100.0
Fisons Limited	United Kingdom	100.0
Limited Liability Zentiva Pharma	Russia	100.0
Sanofi-Aventis Vostok	Russia	100.0
AO Sanofi Russia	Russia	100.0
Zentiva a.s.	Slovakia	98.9
Sanofi-Aventis Pharma Slovakia s.r.o.	Slovakia	100.0
Sanofi AB	Sweden	100.0
Sanofi SA (Sanofi AG)	Switzerland	100.0
Sanofi-Aventis (Suisse) SA	Switzerland	100.0
Pharmaton	Switzerland	100.0
Zentiva Saglik Urunleri Sanayi ve Ticaret A.S.	Turkey	100.0
Sanofi-Aventis Ilaclari Limited Sirketi	Turkey	100.0
Sanofi Pasteur Asi Ticaret A.S.	Turkey	100.0
Sanofi-Aventis Ukraine	Ukraine	100.0

United States	Financial interest (%) as of December 31, 2017
Sanofi US Services Inc	United States	100.0
Sanofi-Aventis US LLC	United States	100.0
Sanofi Pasteur Biologics, LLC	United States	100.0
Chattem, Inc.	United States	100.0

United States	Financial interest (%) as of December 31, 2017
Sanofi Pasteur VaxDesign Corporation	United States	100.0
Carderm Capital L.P.	United States	100.0
Aventisub LLC	United States	100.0
Genzyme Corporation	United States	100.0
Armour Pharmaceutical Company	United States	100.0
Sanofi Pasteur Inc.	United States	100.0
Protein Sciences Corporation	United States	100.0
Aventis Inc.	United States	100.0
VaxServe, Inc.	United States	100.0

Other Countries	Financial interest (%) as of December 31, 2017
Sanofi-Aventis South Africa (Pty) Ltd	South Africa	100.0
Zentiva South Africa (Pty) Ltd	South Africa	100.0
Sanofi-Aventis Algérie	Algeria	100.0
Winthrop Pharma Saidal SPA	Algeria	70.0
Sanofi-Aventis Argentina S.A.	Argentina	100.0
Genzyme de Argentina SA	Argentina	100.0
Sanofi-Aventis Healthcare Pty Ltd	Australia	100.0
Sanofi-Aventis Australia Pty Ltd	Australia	100.0
Medley Farmaceutica Ltda	Brazil	100.0
Sanofi-Aventis Farmaceutica Ltda	Brazil	100.0
Sanofi-Aventis Canada Inc.	Canada	100.0
Sanofi Consumer Health Inc	Canada	100.0
Sanofi Pasteur Limited (Canada)	Canada	100.0
Sanofi-Aventis de Chile SA	Chile	100.0
Sanofi (Hangzhou) Pharmaceuticals Co., Ltd	China	100.0
Sanofi (China) Investment Co., Ltd	China	100.0
Sanofi Beijing Pharmaceuticals Co.Ltd	China	100.0
Shenzhen Sanofi pasteur Biological Products Co, Ltd	China	100.0
Winthrop Pharmaceuticals de Colombia SA	Colombia	100.0
Genfar S.A.	Colombia	100.0
Sanofi-Aventis de Colombia S.A.	Colombia	100.0
Sanofi-Aventis Korea Co. Ltd	South Korea	100.0
Genzyme Korea Co Ltd	South Korea	100.0
Sanofi-Aventis Gulf FZE	United Arab Emirates	100.0
Sanofi-Aventis del Ecuador S.A.	Ecuador	100.0
Sanofi Egypt S.A.E	Egypt	99.8
Sanofi-Aventis de Guatemala S.A.	Guatemala	100.0
Sunstone China Limited	Hong Kong	100.0
Sanofi-Aventis Hong-Kong Limited	Hong Kong	100.0
Sanofi-Synthelabo (India) Private Ltd	India	100.0
Sanofi India Limited	India	60.4

Other Countries	Financial interest (%) as of December 31, 2017
Shantha Biotechnics Private Ltd	India	98.7
PT Aventis Pharma	Indonesia	80.0
Sanofi-Aventis Israël Ltd	Israel	100.0
Sanofi K.K.	Japan	100.0
SSP Co., Ltd	Japan	100.0
Winthrop Pharmaceuticals (Malaysia) SDN. BHD.	Malaysia	100.0
Sanofi-Aventis (Malaysia) SDN. BHD.	Malaysia	100.0
Sanofi-Aventis Maroc	Morocco	100.0
Sanofi-Aventis de Mexico S.A de CV	Mexico	100.0
Sanofi-Aventis Winthrop SA de CV	Mexico	100.0
Sanofi Pasteur SA de CV	Mexico	100.0
Sanofi-Aventis Pakistan Ltd	Pakistan	52.9
Sanofi-Aventis de Panama S.A.	Panama	100.0
Sanofi-Aventis Latin America SA	Panama	100.0
Sanofi-Aventis del Peru SA	Peru	100.0
Genfar Peru S.A.	Peru	100.0
Sanofi-Aventis Philippines Inc	Philippines	100.0
Sanofi-Aventis de la Republica Dominicana S.A.	Dominican Republic	100.0
Sanofi-Aventis Singapore Pte Ltd	Singapore	100.0
Aventis Pharma (Manufacturing) PTE LTD	Singapore	100.0
Sanofi Taiwan Co Ltd	Taiwan	100.0
Zentiva (Thailand) limited	Thailand	100.0
Sanofi-Aventis Thailand Ltd	Thailand	100.0
Sanofi-Aventis Pharma Tunisie	Tunisia	100.0
Winthrop Pharma Tunisie	Tunisia	100.0
Sanofi-Aventis de Venezuela SA	Venezuela	100.0
Sanofi-Synthelabo Vietnam	Vietnam	70.0
Sanofi Vietnam Shareholding Company	Vietnam	100.0

Summary of Principal Investments Accounted for Using the Equity Method

F.2. Principal investments accounted for using the equity method

	Financial interest (%) as of December 31, 2017
Infraserv GmbH & Co. Höchst KG	Germany	31.2
Bristol-Myers Squibb / Sanofi Canada Partnership	Canada	49.9
China Resources Sanjiu Sanofi Consumer Healthcare Ltd	China	30.0
Bristol-Myers Squibb / Sanofi Pharmaceuticals Holding Partnership	United States	49.9
Bristol-Myers Squibb / Sanofi Pharmaceuticals Partnership	United States	49.9
Bristol-Myers Squibb / Sanofi Pharmaceuticals Partnership Puerto Rico	United States	49.9
Bristol-Myers Squibb / Sanofi-Synthélabo Partnership	United States	49.9
Bristol-Myers Squibb / Sanofi-Synthélabo Puerto Rico Partnership	United States	49.9
Regeneron Pharmaceuticals, Inc.	United States	22.2
Onduo LLC	United States	50.0
Maphar	Morocco	48.3
Bio Atrium AG	Switzerland	50.0

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Consolidation and Foreign Currency Translation of Financial Statements of Venezuelan Subsidiaries - Additional Information (Detail) € in Millions		12 Months Ended
		Dec. 31, 2017 EUR (€)	Dec. 31, 2016 EUR (€)	Dec. 31, 2015 EUR (€)		Feb. 29, 2016
Disclosure Of Effect Of Changes In Foreign Exchange Rates Gain Loss [Line Items]
VEF fixed exchange rate versus USD				6.3
VEF administered exchange rate versus USD				13.5
VEF floating exchange rate versus USD				200
Net sales	[1]	€ 35,055	€ 33,821	€ 34,060	[2]
Venezuelan Subsidiary [Member]
Disclosure Of Effect Of Changes In Foreign Exchange Rates Gain Loss [Line Items]
Net foreign exchange loss			102
Net sales			18	455
Cash position		€ 7	€ 6	€ 90
Venezuelan Subsidiaries [Member] | DIPRO Rate [Member]
Disclosure Of Effect Of Changes In Foreign Exchange Rates Gain Loss [Line Items]
Venezuelan foreign exchange rate per US dollar		10
Venezuelan Subsidiaries [Member] | DICOM Rate [Member]
Disclosure Of Effect Of Changes In Foreign Exchange Rates Gain Loss [Line Items]
Venezuelan foreign exchange rate per US dollar		3,345				206

[1] The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36.

[2] Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.).

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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

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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

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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

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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

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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

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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

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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

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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).

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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

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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.

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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%

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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

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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%

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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

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Exchange of The Animal Health Business - Additional Information (Detail) - EUR (€) € in Millions		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	[3]
Disclosure of non-adjusting events after reporting period [Line Items]
Exchange value of the Animal Health business		€ 10,557
Exchange value of the Boehringer Ingelheim Consumer Health Care business		6,239
Pre-tax gain recognized related to exchanged/held-for-exchange Animal Health business		6,343
After-tax gain recognized related to exchanged/held-for-exchange Animal Health business	[1],[2]	4,643	€ 314	€ (124)
Sale of combined entity		1,407
Acquisition of Boehringer Inhelheim's Consumer Healthcare Business [Member]
Disclosure of non-adjusting events after reporting period [Line Items]
Tax-deductible portion of goodwill amount		€ 1,876

[1] For 2015 and 2016, cash flows of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations). For 2017, all of the cash flows generated from the exchange of the Animal Health business for the Consumer Healthcare business of Boehringer Ingelheim (BI) are described in note (i) below.

[2] The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36.

[3] Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.).

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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

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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

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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

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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

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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)

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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

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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)

XML

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

XML

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

XML

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

XML

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)

XML

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)

XML

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

XML

Goodwill and Other Intangible Assets - Amortization of Softwares Recognized in Income Statement (Detail) - EUR (€) € in Millions		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of detailed information about intangible assets [Line Items]
Cost of sales	[1]	€ 11,611	€ 10,702	€ 10,919	[2]
Research and development expenses	[1]	5,472	5,172	5,082	[2]
Selling and general expenses	[1]	10,058	9,486	9,382	[2]
Other operating expenses	[1]	233	482	462	[2]
Amortization of intangible assets	[1]	(1,866)	(1,692)	(2,137)	[2]
Amortization of computer software and other rights of an industrial or operational nature [member]
Disclosure of detailed information about intangible assets [Line Items]
Cost of sales		28	28	25
Research and development expenses		22	16	13
Selling and general expenses		53	56	52
Other operating expenses		9	5	4
Amortization of intangible assets		€ 112	€ 105	€ 94

[1] The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36.

[2] Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.).

XML

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

XML

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%

XML

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

XML

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

XML

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

XML

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

XML

Investments in Associates and Joint Ventures - Summary of Financial Statements of Regeneron, After Adjustments To Comply With IFRS But Before Fair Value Remeasurements (Detail) - EUR (€) € in Millions		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015		Dec. 31, 2014
Disclosure of transactions between related parties [Line Items]
Net income/(loss) for the period	[1]	€ 8,555	€ 4,800	€ 4,388	[2]
Other comprehensive income for the period, net of taxes		(2,681)	928	2,360
Comprehensive income/(loss)		5,874	5,728	6,748
Non-current assets		73,440	71,564	71,641
TOTAL ASSETS		99,826	104,672	102,321
Non-current liabilities		26,111	29,319	26,303
Total equity		58,258	57,724	58,210		€ 56,268
Regeneron [Member]
Disclosure of transactions between related parties [Line Items]
Net sales and other revenues		5,200	4,393	3,698
Net income/(loss) for the period		815	714	232
Other comprehensive income for the period, net of taxes		12	(19)	(39)
Comprehensive income/(loss)		827	695	193
Current assets		3,615	3,001	2,704
Non-current assets		3,947	4,304	4,529
TOTAL ASSETS		7,562	7,305	7,233
Current liabilities		947	1,178	745
Non-current liabilities		1,238	1,218	1,903
Total liabilities		2,185	2,396	2,648
Total equity		€ 5,377	€ 4,909	€ 4,585

[1] The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36.

[2] Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.).

XML

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

XML

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

XML

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

XML

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)

XML

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)

XML

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%

XML

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

XML

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)

XML

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

XML

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)

XML

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

XML

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

XML

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

XML

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

XML

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

XML

Cash and Cash Equivalents - Summary of Cash and Cash Equivalents (Detail) - EUR (€) € in Millions		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash and cash equivalents [Abstract]
Cash		€ 472	€ 1,077	€ 1,361
Cash equivalents		9,843	9,196	7,787
Cash and cash equivalents	[1]	€ 10,315	€ 10,273	€ 9,148	€ 7,341

[1] For 2015 and 2016, cash flows of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations). For 2017, all of the cash flows generated from the exchange of the Animal Health business for the Consumer Healthcare business of Boehringer Ingelheim (BI) are described in note (i) below.

XML

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

XML

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

XML

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

XML

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

XML

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

XML

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

XML

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%

XML

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

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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

XML

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

XML

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)

XML

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)

XML

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

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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

XML

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

XML

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

XML

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]

[1] The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36.

[2] Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.).

XML

Debt, Cash and Cash Equivalents - Summary of Changes in Financial Position (Detail) - EUR (€) € in Millions		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Disclosure of changes in financial position [Abstract]
Long-term debt		€ 14,326	€ 16,815	€ 13,118
Short-term debt and current portion of long-term debt		1,275	1,764	3,436
Interest rate and currency derivatives used to hedge debt		(57)	(100)	(156)
Total debt		15,544	18,479	16,398
Cash and cash equivalents	[1]	(10,315)	(10,273)	(9,148)	€ (7,341)
Interest rate and currency derivatives used to hedge cash and cash equivalents				4
Debt net of cash and cash equivalents		€ 5,229	€ 8,206	€ 7,254

[1] For 2015 and 2016, cash flows of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations). For 2017, all of the cash flows generated from the exchange of the Animal Health business for the Consumer Healthcare business of Boehringer Ingelheim (BI) are described in note (i) below.

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Debt, Cash and Cash Equivalents - Summary of Reconciliation of Carrying Amount to Value on Redemption (Detail) - EUR (€) € in Millions		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Disclosure of reconciliation of carrying amount to value on redemption [line items]
Long-term debt		€ 14,326	€ 16,815	€ 13,118
Short-term debt and current portion of long-term debt		1,275	1,764	3,436
Interest rate and currency derivatives used to hedge debt		(57)	(100)	(156)
Total debt		15,544	18,479	16,398
Cash and cash equivalents	[1]	(10,315)	(10,273)	(9,148)	€ (7,341)
Interest rate and currency derivatives used to hedge cash and cash equivalents				4
Debt, net of cash and cash equivalents		5,229	8,206	7,254
Amortized Cost [Member]
Disclosure of reconciliation of carrying amount to value on redemption [line items]
Long-term debt		64
Total debt		64
Debt, net of cash and cash equivalents		64
Adjustment to Debt Measured at Fair Value [Member]
Disclosure of reconciliation of carrying amount to value on redemption [line items]
Long-term debt		(81)
Interest rate and currency derivatives used to hedge debt		50
Total debt		(31)
Debt, net of cash and cash equivalents		(31)
Value on Redemption [Member]
Disclosure of reconciliation of carrying amount to value on redemption [line items]
Long-term debt		14,309	16,765	13,023
Short-term debt and current portion of long-term debt		1,275	1,764	3,422
Interest rate and currency derivatives used to hedge debt		(7)	(10)	(35)
Total debt		15,577	18,519	16,410
Cash and cash equivalents		(10,315)	(10,273)	(9,148)
Interest rate and currency derivatives used to hedge cash and cash equivalents				4
Debt, net of cash and cash equivalents		€ 5,262	€ 8,246	€ 7,266

[1] For 2015 and 2016, cash flows of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations). For 2017, all of the cash flows generated from the exchange of the Animal Health business for the Consumer Healthcare business of Boehringer Ingelheim (BI) are described in note (i) below.

XML

Debt, Cash and Cash Equivalents - Disclosure Of Movement In Total Debt (Detail) - EUR (€) € in Millions		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of debt [Line Items]
December 31, 2016		€ 18,479	€ 16,398
Repayments		(2,368)
New borrowings		41
Other cash flows		30
Currency translation differences		(637)
Other items	[1]	38	(83)	€ (365)
December 31, 2017		15,544	18,479	€ 16,398
Fair value [Member]
Disclosure of debt [Line Items]
Other items		(1)
Long Term Debt [member]
Disclosure of debt [Line Items]
December 31, 2016		16,815
Repayments		(8)
New borrowings		41
Currency translation differences		(300)
Reclassification from non- current to current		(2,187)
December 31, 2017		14,326	16,815
Long Term Debt [member] | Fair value [Member]
Disclosure of debt [Line Items]
Other items		(35)
Short Term Debt And Current Portion Of Long Term Debt [Member]
Disclosure of debt [Line Items]
December 31, 2016		1,764
Repayments		(2,360)
Other cash flows		30
Currency translation differences		(337)
Reclassification from non- current to current		2,187
December 31, 2017		1,275	1,764
Short Term Debt And Current Portion Of Long Term Debt [Member] | Fair value [Member]
Disclosure of debt [Line Items]
Other items		(9)
Interest Rate and Currency Derivatives Used to Hedge Debt [member]
Disclosure of debt [Line Items]
December 31, 2016		(100)
December 31, 2017		(57)	€ (100)
Interest Rate and Currency Derivatives Used to Hedge Debt [member] | Fair value [Member]
Disclosure of debt [Line Items]
Other items		€ 43

[1] For 2015 and 2016, cash flows of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations). For 2017, all of the cash flows generated from the exchange of the Animal Health business for the Consumer Healthcare business of Boehringer Ingelheim (BI) are described in note (i) below.

XML

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

XML

Debt, Cash and Cash Equivalents - Summary of Debt by Type Valuation of Redemption (Detail) - EUR (€) € in Millions		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Disclosure of reconciliation of carrying amount to value on redemption [line items]
Interest rate and currency derivatives used to hedge debt		€ (57)	€ (100)	€ (156)
Total debt		15,544	18,479	16,398
Cash and cash equivalents	[1]	(10,315)	(10,273)	(9,148)	€ (7,341)
Interest rate and currency derivatives used to hedge cash and cash equivalents				4
Debt, net of cash and cash equivalents		5,229	8,206	7,254
Value on Redemption [Member]
Disclosure of reconciliation of carrying amount to value on redemption [line items]
Bond issues		15,015	17,480	15,475
Other bank borrowings		284	776	653
Finance lease obligations		31	53	67
Other borrowings		17	17	22
Bank credit balances		237	203	228
Interest rate and currency derivatives used to hedge debt		(7)	(10)	(35)
Total debt		15,577	18,519	16,410
Cash and cash equivalents		(10,315)	(10,273)	(9,148)
Interest rate and currency derivatives used to hedge cash and cash equivalents				4
Debt, net of cash and cash equivalents		5,262	8,246	7,266
Value on Redemption [Member] | Non-current Assets [Member]
Disclosure of reconciliation of carrying amount to value on redemption [line items]
Debt, net of cash and cash equivalents		14,302	16,756	13,012
Value on Redemption [Member] | Current Assets [Member]
Disclosure of reconciliation of carrying amount to value on redemption [line items]
Cash and cash equivalents		(10,315)	(10,273)	(9,148)
Interest rate and currency derivatives used to hedge cash and cash equivalents				4
Debt, net of cash and cash equivalents		(9,040)	(8,510)	(5,746)
Value on Redemption [Member] | Non-current Liabilities [Member]
Disclosure of reconciliation of carrying amount to value on redemption [line items]
Bond issues		14,195	16,657	12,484
Other bank borrowings		81	61	477
Finance lease obligations		20	34	49
Other borrowings		13	13	13
Interest rate and currency derivatives used to hedge debt		(7)	(9)	(11)
Total debt		14,302	16,756	13,012
Value on Redemption [Member] | Current Liabilities [Member]
Disclosure of reconciliation of carrying amount to value on redemption [line items]
Bond issues		820	823	2,991
Other bank borrowings		203	715	176
Finance lease obligations		11	19	18
Other borrowings		4	4	9
Bank credit balances		237	203	228
Interest rate and currency derivatives used to hedge debt			(1)	(24)
Total debt		€ 1,275	€ 1,763	€ 3,398

[1] For 2015 and 2016, cash flows of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations). For 2017, all of the cash flows generated from the exchange of the Animal Health business for the Consumer Healthcare business of Boehringer Ingelheim (BI) are described in note (i) below.

XML

Debt, Cash and Cash Equivalents - Summary of Debt by Maturity at Value on Redemption (Detail) - EUR (€) € in Millions		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Disclosure of detailed information about borrowings [Line Items]
Interest rate and currency derivatives used to hedge debt		€ (57)	€ (100)	€ (156)
Total debt		15,544	18,479	16,398
Cash and cash equivalents	[1]	(10,315)	(10,273)	(9,148)	€ (7,341)
Interest rate and currency derivatives used to hedge cash and cash equivalents				4
Debt, net of cash and cash equivalents		5,229	8,206	7,254
Value on Redemption [Member]
Disclosure of detailed information about borrowings [Line Items]
Bond issues		15,015	17,480	15,475
Other bank borrowings		284	776	653
Finance lease obligations		31	53	67
Other borrowings		17	17	22
Bank credit balances		237	203	228
Interest rate and currency derivatives used to hedge debt		(7)	(10)	(35)
Total debt		15,577	18,519	16,410
Cash and cash equivalents		(10,315)	(10,273)	(9,148)
Interest rate and currency derivatives used to hedge cash and cash equivalents				4
Debt, net of cash and cash equivalents		5,262	8,246	7,266
Value on Redemption [Member] | Less than 1 year [Member]
Disclosure of detailed information about borrowings [Line Items]
Bond issues		820	823	2,991
Other bank borrowings		203	715	176
Finance lease obligations		11	19	18
Other borrowings		4	4	9
Bank credit balances		237	203	228
Interest rate and currency derivatives used to hedge debt			(1)	(24)
Total debt		1,275	1,763	3,398
Cash and cash equivalents		(10,315)	(10,273)	(9,148)
Interest rate and currency derivatives used to hedge cash and cash equivalents				4
Debt, net of cash and cash equivalents		(9,040)	(8,510)	(5,746)
Value on Redemption [Member] | Later Than One Year and Not Later Than Two Years [Member]
Disclosure of detailed information about borrowings [Line Items]
Bond issues		2,050	2,174	750
Other bank borrowings		8	16	438
Finance lease obligations		3	13	17
Interest rate and currency derivatives used to hedge debt		(6)	(6)	(1)
Total debt		2,055	2,197	1,204
Debt, net of cash and cash equivalents		2,055	2,197	1,204
Value on Redemption [Member] | Later Than Two Years and Not Later Than Three Years [Member]
Disclosure of detailed information about borrowings [Line Items]
Bond issues		2,417	2,050	2,128
Other bank borrowings		25	8	8
Finance lease obligations		2	2	14
Interest rate and currency derivatives used to hedge debt		(1)	(3)	(1)
Total debt		2,443	2,057	2,149
Debt, net of cash and cash equivalents		2,443	2,057	2,149
Value on Redemption [Member] | Later Than Three Years and Not Later Than Four Years [Member]
Disclosure of detailed information about borrowings [Line Items]
Bond issues		2,168	2,475	1,550
Other bank borrowings		4	14	12
Finance lease obligations		3	2	7
Interest rate and currency derivatives used to hedge debt				(6)
Total debt		2,175	2,491	1,563
Debt, net of cash and cash equivalents		2,175	2,491	1,563
Value on Redemption [Member] | Later Than Four Years and Not Later Than Five Years [Member]
Disclosure of detailed information about borrowings [Line Items]
Bond issues		1,850	2,398	1,459
Other bank borrowings		4		14
Finance lease obligations		3	3	2
Interest rate and currency derivatives used to hedge debt				(3)
Total debt		1,857	2,401	1,472
Debt, net of cash and cash equivalents		1,857	2,401	1,472
Value on Redemption [Member] | More Than 5 Years [Member]
Disclosure of detailed information about borrowings [Line Items]
Bond issues		5,710	7,560	6,597
Other bank borrowings		40	23	5
Finance lease obligations		9	14	9
Other borrowings		13	13	13
Total debt		5,772	7,610	6,624
Debt, net of cash and cash equivalents		€ 5,772	€ 7,610	€ 6,624

[1] For 2015 and 2016, cash flows of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations). For 2017, all of the cash flows generated from the exchange of the Animal Health business for the Consumer Healthcare business of Boehringer Ingelheim (BI) are described in note (i) below.

XML

Debt, Cash and Cash Equivalents - Summary of Debt by Interest Rate (Detail) - EUR (€) € in Millions		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Disclosure of financial instruments by type of interest rate [Line Items]
Debt		€ 15,544	€ 18,479	€ 16,398
Debt, net of cash and cash equivalents		5,229	8,206	7,254
Cash and cash equivalents	[1]	(10,315)	(10,273)	(9,148)	€ (7,341)
Value on Redemption After Derivative Instruments [Member]
Disclosure of financial instruments by type of interest rate [Line Items]
Debt		15,577	18,519	16,410
Debt, net of cash and cash equivalents		5,262	8,246	7,266
Cash and cash equivalents			(10,273)	(9,144)
Value on Redemption After Derivative Instruments [Member] | Fixed-rate Debt [Member]
Disclosure of financial instruments by type of interest rate [Line Items]
Debt		9,746	13,651	10,435
Borrowings in Euros		8,068
Borrowings in USD		€ 1,678
Debt percent		63.00%
Value on Redemption After Derivative Instruments [Member] | Floating-rate Debt [Member]
Disclosure of financial instruments by type of interest rate [Line Items]
Debt		€ 5,831	€ 4,868	€ 5,975
Borrowings in Euros		4,900
Borrowings in USD		€ 462
Debt percent		37.00%
Cash and cash equivalents		€ (10,315)
Cash and cash equivalents in EUR		(8,205)
Cash and cash equivalents in USD		€ (1,653)
Cash and cash equivalent percent		100.00%
Value on Redemption Before Derivative Instruments [Member]
Disclosure of financial instruments by type of interest rate [Line Items]
Debt		€ 15,577
Debt, net of cash and cash equivalents		5,262
Value on Redemption Before Derivative Instruments [Member] | Fixed-rate Debt [Member]
Disclosure of financial instruments by type of interest rate [Line Items]
Debt		13,513
Borrowings in Euros		11,418
Borrowings in USD		€ 2,095
Debt percent		87.00%
Value on Redemption Before Derivative Instruments [Member] | Floating-rate Debt [Member]
Disclosure of financial instruments by type of interest rate [Line Items]
Debt		€ 2,064
Borrowings in Euros		1,550
Borrowings in USD		€ 45
Debt percent		13.00%
Cash and cash equivalents		€ (10,315)
Cash and cash equivalents in EUR		(8,205)
Cash and cash equivalents in USD		€ (1,653)
Cash and cash equivalent percent		100.00%
Less than 1 year [Member] | Value on Redemption After Derivative Instruments [Member]
Disclosure of financial instruments by type of interest rate [Line Items]
Debt		€ 5,906
Debt, net of cash and cash equivalents		(4,409)
Less than 1 year [Member] | Value on Redemption After Derivative Instruments [Member] | Fixed-rate Debt [Member]
Disclosure of financial instruments by type of interest rate [Line Items]
Debt		75
Less than 1 year [Member] | Value on Redemption After Derivative Instruments [Member] | Floating-rate Debt [Member]
Disclosure of financial instruments by type of interest rate [Line Items]
Debt		5,831
Cash and cash equivalents		(10,315)
Less than 1 year [Member] | Value on Redemption Before Derivative Instruments [Member]
Disclosure of financial instruments by type of interest rate [Line Items]
Debt		2,139
Debt, net of cash and cash equivalents		(8,176)
Less than 1 year [Member] | Value on Redemption Before Derivative Instruments [Member] | Fixed-rate Debt [Member]
Disclosure of financial instruments by type of interest rate [Line Items]
Debt		75
Less than 1 year [Member] | Value on Redemption Before Derivative Instruments [Member] | Floating-rate Debt [Member]
Disclosure of financial instruments by type of interest rate [Line Items]
Debt		2,064
Cash and cash equivalents		(10,315)
Later Than One Year and Not Later Than Two Years [Member] | Value on Redemption After Derivative Instruments [Member]
Disclosure of financial instruments by type of interest rate [Line Items]
Debt		(256)
Debt, net of cash and cash equivalents		(256)
Later Than One Year and Not Later Than Two Years [Member] | Value on Redemption After Derivative Instruments [Member] | Fixed-rate Debt [Member]
Disclosure of financial instruments by type of interest rate [Line Items]
Debt		(256)
Later Than One Year and Not Later Than Two Years [Member] | Value on Redemption Before Derivative Instruments [Member]
Disclosure of financial instruments by type of interest rate [Line Items]
Debt		1,294
Debt, net of cash and cash equivalents		1,294
Later Than One Year and Not Later Than Two Years [Member] | Value on Redemption Before Derivative Instruments [Member] | Fixed-rate Debt [Member]
Disclosure of financial instruments by type of interest rate [Line Items]
Debt		1,294
Later Than Two Years and Not Later Than Three Years [Member] | Value on Redemption After Derivative Instruments [Member]
Disclosure of financial instruments by type of interest rate [Line Items]
Debt		1,999
Debt, net of cash and cash equivalents		1,999
Later Than Two Years and Not Later Than Three Years [Member] | Value on Redemption After Derivative Instruments [Member] | Fixed-rate Debt [Member]
Disclosure of financial instruments by type of interest rate [Line Items]
Debt		1,999
Later Than Two Years and Not Later Than Three Years [Member] | Value on Redemption Before Derivative Instruments [Member]
Disclosure of financial instruments by type of interest rate [Line Items]
Debt		2,416
Debt, net of cash and cash equivalents		2,416
Later Than Two Years and Not Later Than Three Years [Member] | Value on Redemption Before Derivative Instruments [Member] | Fixed-rate Debt [Member]
Disclosure of financial instruments by type of interest rate [Line Items]
Debt		2,416
Later Than Three Years and Not Later Than Four Years [Member] | Value on Redemption After Derivative Instruments [Member]
Disclosure of financial instruments by type of interest rate [Line Items]
Debt		2,168
Debt, net of cash and cash equivalents		2,168
Later Than Three Years and Not Later Than Four Years [Member] | Value on Redemption After Derivative Instruments [Member] | Fixed-rate Debt [Member]
Disclosure of financial instruments by type of interest rate [Line Items]
Debt		2,168
Later Than Three Years and Not Later Than Four Years [Member] | Value on Redemption Before Derivative Instruments [Member]
Disclosure of financial instruments by type of interest rate [Line Items]
Debt		2,168
Debt, net of cash and cash equivalents		2,168
Later Than Three Years and Not Later Than Four Years [Member] | Value on Redemption Before Derivative Instruments [Member] | Fixed-rate Debt [Member]
Disclosure of financial instruments by type of interest rate [Line Items]
Debt		2,168
Later Than Four Years and Not Later Than Five Years [Member] | Value on Redemption After Derivative Instruments [Member]
Disclosure of financial instruments by type of interest rate [Line Items]
Debt		50
Debt, net of cash and cash equivalents		50
Later Than Four Years and Not Later Than Five Years [Member] | Value on Redemption After Derivative Instruments [Member] | Fixed-rate Debt [Member]
Disclosure of financial instruments by type of interest rate [Line Items]
Debt		50
Later Than Four Years and Not Later Than Five Years [Member] | Value on Redemption Before Derivative Instruments [Member]
Disclosure of financial instruments by type of interest rate [Line Items]
Debt		1,850
Debt, net of cash and cash equivalents		1,850
Later Than Four Years and Not Later Than Five Years [Member] | Value on Redemption Before Derivative Instruments [Member] | Fixed-rate Debt [Member]
Disclosure of financial instruments by type of interest rate [Line Items]
Debt		1,850
More Than 5 Years [Member] | Value on Redemption After Derivative Instruments [Member]
Disclosure of financial instruments by type of interest rate [Line Items]
Debt		5,710
Debt, net of cash and cash equivalents		5,710
More Than 5 Years [Member] | Value on Redemption After Derivative Instruments [Member] | Fixed-rate Debt [Member]
Disclosure of financial instruments by type of interest rate [Line Items]
Debt		5,710
More Than 5 Years [Member] | Value on Redemption Before Derivative Instruments [Member]
Disclosure of financial instruments by type of interest rate [Line Items]
Debt		5,710
Debt, net of cash and cash equivalents		5,710
More Than 5 Years [Member] | Value on Redemption Before Derivative Instruments [Member] | Fixed-rate Debt [Member]
Disclosure of financial instruments by type of interest rate [Line Items]
Debt		€ 5,710

[1] For 2015 and 2016, cash flows of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations). For 2017, all of the cash flows generated from the exchange of the Animal Health business for the Consumer Healthcare business of Boehringer Ingelheim (BI) are described in note (i) below.

XML

Debt, Cash and Cash Equivalents - Summary of Interest Rate of Debt Net of Cash and Cash Equivalents at Value on Redemption (Detail) - EUR (€) € in Millions		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Disclosure of Interest Rate of Debt Net of Cash and Cash Equivalent [Line Items]
Debt		€ 15,544	€ 18,479	€ 16,398
Cash and cash equivalents	[1]	(10,315)	(10,273)	(9,148)	€ (7,341)
Debt net of cash and cash equivalents		5,229	8,206	7,254
Value on Redemption After Derivative Instruments [Member]
Disclosure of Interest Rate of Debt Net of Cash and Cash Equivalent [Line Items]
Debt		15,577	18,519	16,410
Cash and cash equivalents			(10,273)	(9,144)
Debt net of cash and cash equivalents		5,262	8,246	7,266
Fixed-rate Debt [Member] | Value on Redemption After Derivative Instruments [Member]
Disclosure of Interest Rate of Debt Net of Cash and Cash Equivalent [Line Items]
Debt		€ 9,746	13,651	10,435
Debt percent		63.00%
Floating-rate Debt [Member] | Value on Redemption After Derivative Instruments [Member]
Disclosure of Interest Rate of Debt Net of Cash and Cash Equivalent [Line Items]
Debt		€ 5,831	€ 4,868	€ 5,975
Cash and cash equivalents		€ (10,315)
Debt percent		37.00%
Value on Redemption After Derivative Instruments [Member]
Disclosure of Interest Rate of Debt Net of Cash and Cash Equivalent [Line Items]
Debt percent			100.00%	100.00%
Value on Redemption After Derivative Instruments [Member] | Fixed-rate Debt [Member]
Disclosure of Interest Rate of Debt Net of Cash and Cash Equivalent [Line Items]
Debt percent			74.00%	64.00%
Value on Redemption After Derivative Instruments [Member] | Floating-rate Debt [Member]
Disclosure of Interest Rate of Debt Net of Cash and Cash Equivalent [Line Items]
Debt percent			26.00%	36.00%

[1] For 2015 and 2016, cash flows of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations). For 2017, all of the cash flows generated from the exchange of the Animal Health business for the Consumer Healthcare business of Boehringer Ingelheim (BI) are described in note (i) below.

XML

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

XML

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

XML

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

XML

Liabilities Related to Business Combinations and to Non-Controlling Interests - Summary of Movements in Liabilities Related to Business Combinations and to Non-Controlling Interests (Detail) - EUR (€) € in Millions		12 Months Ended
		Dec. 31, 2017		Dec. 31, 2016		Dec. 31, 2015
Disclosure Of Liabilities Related To Business Combinations And To Noncontrolling Interests [line items]
Beginning balance	[1]	€ 1,576		€ 1,251		€ 1,264
New business combinations	[1]	85	[2],[3]	354
Payments made	[1]	(226)		(140)		(70)
Fair value remeasurements through profit or loss: (gain)/loss (including unwinding of discount)(c)	[1],[4]	43		135	[2]	(53)
Other movements	[1]	29		(58)		(16)
Currency translation differences	[1]	(138)		34		126
Ending balance	[1]	1,369		1,576		1,251
CVRs Issued in Connection with the Acquisition of Genzyme [Member]
Disclosure Of Liabilities Related To Business Combinations And To Noncontrolling Interests [line items]
Beginning balance	[5]	85		24		154
Fair value remeasurements through profit or loss: (gain)/loss (including unwinding of discount)(c)	[4],[5]	1		58	[2]	(143)
Currency translation differences	[5]	(11)		3		13
Ending balance	[5]	75		85		24
Liabilities Related to Non-controlling Interests [Member]
Disclosure Of Liabilities Related To Business Combinations And To Noncontrolling Interests [line items]
Beginning balance	[6]	123		181		178
Other movements	[6]	(28)		(58)		(5)
Currency translation differences	[6]	(3)				8
Ending balance	[6]	92		123		181
Bayer Contingent Purchase Consideration Arising from the Acquisition of Genzyme [Member]
Disclosure Of Liabilities Related To Business Combinations And To Noncontrolling Interests [line items]
Beginning balance		1,013		1,040		896
Payments made		(165)		(137)		(63)
Fair value remeasurements through profit or loss: (gain)/loss (including unwinding of discount)(c)	[4]	(28)		78	[2]	104
Currency translation differences		(119)		32		103
Ending balance		701		1,013		1,040
MSD Contingent Consideration European Vaccines Business [Member]
Disclosure Of Liabilities Related To Business Combinations And To Noncontrolling Interests [line items]
Beginning balance		354
New business combinations				354
Fair value remeasurements through profit or loss: (gain)/loss (including unwinding of discount)(c)	[4]	71
Currency translation differences		(5)
Ending balance		420		354
Other [Member]
Disclosure Of Liabilities Related To Business Combinations And To Noncontrolling Interests [line items]
Beginning balance		1		6		36
New business combinations	[2],[3]	85
Payments made		(61)		(3)		(7)
Fair value remeasurements through profit or loss: (gain)/loss (including unwinding of discount)(c)	[4]	(1)		(1)	[2]	(14)
Other movements		57				(11)
Currency translation differences				(1)		2
Ending balance		€ 81		€ 1		€ 6

[1] Portion due after more than one year: €1,026 million as of December 31, 2017 (€1,378 million as of December 31, 2016 and €1,121 million as of December 31, 2015); portion due within less than one year: €343 million as of December 31, 2017 (€198 million as of December 31, 2016 and €130 million as of December 31, 2015).

[2] See Note C.2. to the financial statements for the year ended December 31, 2017.

[3] Two potential payments of €42 million each relating to the acquisition of Protein Sciences, which are contingent on the attainment of specified performance criteria subsequent to the acquisition date.

[4] Amounts reported within the income statement line item Fair value remeasurement of contingent consideration, and mainly comprising unrealized gains and losses.

[5] Based on the quoted market price per CVR of $0.38 as of December 31, 2017 and 2016, and $0.11 as of December 31, 2015.

[6] Includes put options granted to non-controlling interests and commitment to future buyout of non-controlling interests held by BMS.

XML

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

XML

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

[1] This line does not include put options granted to non-controlling interests.

XML

Liabilities Related to Business Combinations and to Non-Controlling Interests - Summary of Maximum Amount of Contingent Consideration Payable and Firm Commitments to Buy Out Non-Controlling Interests (Detail) - EUR (€) € in Millions		Dec. 31, 2017		Dec. 31, 2016	Dec. 31, 2015
Disclosure Of maximum amount of contingent consideration payable and firm commitments to buy out non-controlling interests [Line Items]
Commitments relating to contingent consideration in connection with business combinations and buyouts of non-controlling interests		€ 4,293	[1]	€ 4,832	€ 5,073
Less than 1 year [Member]
Disclosure Of maximum amount of contingent consideration payable and firm commitments to buy out non-controlling interests [Line Items]
Commitments relating to contingent consideration in connection with business combinations and buyouts of non-controlling interests	[1]	354
1 to 3 years [Member]
Disclosure Of maximum amount of contingent consideration payable and firm commitments to buy out non-controlling interests [Line Items]
Commitments relating to contingent consideration in connection with business combinations and buyouts of non-controlling interests	[1]	2,630
3 to 5 years [Member]
Disclosure Of maximum amount of contingent consideration payable and firm commitments to buy out non-controlling interests [Line Items]
Commitments relating to contingent consideration in connection with business combinations and buyouts of non-controlling interests	[1]	1,069
More Than 5 Years [Member]
Disclosure Of maximum amount of contingent consideration payable and firm commitments to buy out non-controlling interests [Line Items]
Commitments relating to contingent consideration in connection with business combinations and buyouts of non-controlling interests	[1]	€ 240

[1] This line does not include put options granted to non-controlling interests.

XML

Liabilities Related to Business Combinations and to Non-Controlling Interests - Summary of Maximum Amount of Contingent Consideration Payable and Firm Commitments to Buy Out Non-Controlling Interests (Parenthetical) (Detail) - EUR (€) € in Billions		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of maximum amount of contingent consideration payable and firm commitments to buy out non-controlling interests [Abstract]
Commitments relating to contingent consideration in connection with business combinations Bayer	[1]	€ 1.4	€ 1.8	€ 1.9
Commitments relating to contingent consideration of which CVR issued in connection with the Genzyme acquisition	[1]	€ 2.2	€ 2.5	€ 2.6

[1] This line does not include put options granted to non-controlling interests.

XML

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

XML

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%

XML

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

XML

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

XML

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

XML

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

XML

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

XML

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

XML

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%

XML

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

XML

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

XML

Provisions and Other Liabilities - Total Expense for Pensions and Other Post-employment Benefits Allocated between Income Statement (Detail) - EUR (€) € in Millions		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of defined benefit plans [Line Items]
Cost of sales	[1]	€ 11,611	€ 10,702	€ 10,919	[2]
Research and development expenses	[1]	5,472	5,172	5,082	[2]
Selling and general expenses	[1]	10,058	9,486	9,382	[2]
Restructuring costs	[1]	731	879	795	[2]
Financial expenses	[1]	420	924	559	[2]
Pensions and Other Post-employment Benefits [Member]
Disclosure of defined benefit plans [Line Items]
Cost of sales		63	60	73
Research and development expenses		48	48	58
Selling and general expenses		95	113	132
Restructuring costs		45	(51)	(13)
Financial expenses		87	108	108
Expense recognized directly in profit or loss		€ 338	€ 278	€ 358

[1] The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36.

[2] Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.).

XML

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

XML

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

XML

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

XML

Provisions and Other Liabilities - Movements in Restructuring Provisions Classified in Non-current and Current Liabilities (Detail) - EUR (€) € in Millions		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of Restructuring Provisions [line items]
Balance, beginning of period		€ 8,834	€ 9,169	€ 9,578
Classified in current liabilities		10,175	9,442
Provisions utilized		(981)	(584)	(585)
Transfers		(330)	(790)	(328)
Reclassification of the Animal Health business				149
Currency translation differences		(345)	61	190
Balance, end of period		9,154	8,834	9,169
Classified in current liabilities		9,206	10,175	9,442
Restructuring Provision [Member]
Disclosure of Restructuring Provisions [line items]
Balance, beginning of period		1,420	1,343	1,399
Classified in non-currentliabilities		744	762	835
Classified in current liabilities		676	581	564
Change in provisions recognized in profit or loss for the period		297	667	508
Provisions utilized		(616)	(641)	(570)
Transfers		7	38
Reclassification of the Animal Health business	[1]			(12)
Unwinding of discount		3	4	6
Currency translation differences		(25)	9	12
Balance, end of period		1,086	1,420	1,343
Classified in non-currentliabilities		514	744	762
Classified in current liabilities		€ 572	€ 676	€ 581

[1] This line comprises the restructuring provisions of the Animal Health business, reclassified to Liabilities related to assets held for sale or exchange as of December 31, 2015 (see Notes D.1. and D.36.).

XML

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

XML

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

XML

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

XML

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

XML

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

XML

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)

XML

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)

XML

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)

XML

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)

XML

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

XML

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)

XML

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

XML

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

XML

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)

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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

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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

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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

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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

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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

XML

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

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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

XML

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

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Other Operating Income - Additional Information (Detail) - EUR (€) € in Millions		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Other Operating Income [Line Items]
Other operating income	[1]	€ 237	€ 355	€ 254	[2]
Net operating foreign exchange losses		80	146	98
Gains on disposals of operating non-current assets		90	40	146
Gains on litigation settlements			192
Regeneron [Member]
Disclosure Of Other Operating Income [Line Items]
Alliance agreements		(12)	141
Alliance agreements, profits from commercialization of antibodies		385	419
Alliance agreements, related commercialization expenses		397	278
Pharmaceuticals [Member]
Disclosure Of Other Operating Income [Line Items]
Alliance agreements		€ 7	€ 191	€ 59

[1] The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36.

[2] Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.).

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Other Operating Expenses - Additional Information (Detail) - EUR (€) € in Millions		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of Other Operating Income Expenses [Line Items]
Other operating expense	[1]	€ 233	€ 482	€ 462	[2]
Impairment loss recognised in profit or loss, property, plant and equipment		254	159	132
Other operating expense, foreign exchange loss on Venezuelan Subsidiaries			102
Other operating expense, share of profits due to alliance partners		36	€ 96	€ 52
Dengue vaccine project [Member]
Disclosure of Other Operating Income Expenses [Line Items]
Impairment loss recognised in profit or loss, property, plant and equipment		€ 87

[1] The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36.

[2] Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.).

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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

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Restructuring Costs and Similar Items - Summary of Restructuring Costs and Similar Items (Detail) - EUR (€) € in Millions		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of restructuring costs and similar items [abstract]
Employee-related expenses		€ 336	€ 650	€ 307
Expenses related to property, plant and equipment and to inventories		221	139	132
Compensation for early termination of contracts (other than contracts of employment)		61	31	7
Decontamination costs		(4)	3	1
Other restructuring costs		117	56	348
Total	[1]	€ 731	€ 879	€ 795	[2]

[1] The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36.

[2] Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.).

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Other Gains And Losses, and Litigation - Additional Information (Detail) - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2017		Dec. 31, 2016	[1]	Dec. 31, 2015
Gains (losses) on litigation settlements [Abstract]
Other gains and (losses) and litigation	€ (215)	[1]	€ 211		€ 0
Provisions for vendor's liability guarantees	€ 31

[1] The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36.

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Financial Income and Expenses - Summary of Analysis of Financial Income and Expenses (Detail) - EUR (€) € in Millions		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Detailed Information About Finance Income Expense [abstract]
Cost of debt		€ (277)	€ (274)	€ (331)
Interest income		56	56	57
Cost of debt, net of cash and cash equivalents		(221)	(218)	(274)
Non-operating foreign exchange gains/(losses)		(21)	(21)
Unwinding of discounting of provisions		(33)	(33)	(44)
Net interest cost related to employee benefits		(92)	(114)	(114)
Gains/(losses) on disposals of financial assets		96	36	46
Impairment losses on financial assets, net of reversals		(7)	(487)	(50)
Other		5	(19)	55
Net financial income/(expenses)		(273)	(856)	(381)
Comprising: financial expenses	[1]	(420)	(924)	(559)	[2]
Comprising: financial income	[1]	€ 147	€ 68	€ 178	[2]

[1] The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36.

[2] Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.).

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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

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Income Tax Expense - Summary of Allocation of Income Tax Expense Between Current and Deferred Taxes (Detail) - EUR (€) € in Millions		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Income Tax Expense and Deferred Taxes [Abstract]
Current taxes		€ (2,631)	€ (1,869)	€ (1,978)
Deferred taxes		909	543	1,269
Total	[1]	(1,722)	(1,326)	(709)	[2]
Income before tax and associates and joint ventures	[1]	€ 5,530	€ 5,678	€ 5,243	[2]

[1] The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36.

[2] Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.).

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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%

XML

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

XML

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)

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Net Income Attributable to Non-controlling Interests - Additional Information (Detail) - EUR (€) € in Millions		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of noncontrolling interests [Line Items]
Profit (loss), attributable to non-controlling interests	[1]	€ 121	€ 91	€ 101	[2]
BMS [Member]
Disclosure of noncontrolling interests [Line Items]
Profit (loss), attributable to non-controlling interests		84	86	94
Other investments [Member]
Disclosure of noncontrolling interests [Line Items]
Profit (loss), attributable to non-controlling interests		€ 37	€ 5	€ 7

[1] The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36.

[2] Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.).

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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

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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

XML

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%

XML

Segment Information - Schedule of Segment Results (Detail) - EUR (€) € in Millions		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of operating segments [Line Items]
Net sales	[1]	€ 35,055	€ 33,821	€ 34,060	[2]
Other revenues	[1]	1,149	887	801	[2]
Cost of sales	[1]	(11,611)	(10,702)	(10,919)	[2]
Research and development expenses	[1]	(5,472)	(5,172)	(5,082)	[2]
Selling and general expenses	[1]	(10,058)	(9,486)	(9,382)	[2]
Net income attributable to non-controlling interests	[1]	(121)	(91)	(101)	[2]
Consumer healthcare segment [member]
Disclosure of operating segments [Line Items]
Net sales			3,330	3,492
New segment reporting model [member] | Pharmaceuticals [Member]
Disclosure of operating segments [Line Items]
Net sales		25,122
Other revenues		287
Cost of sales		(6,728)
Research and development expenses		(4,056)
Selling and general expenses		(5,750)
Other operating income and expenses		34
Share of profit/(loss) from investments accounted for using the equity method		233
Net income attributable to non-controlling interests		(117)
Business operating income		9,025
New segment reporting model [member] | Consumer healthcare segment [member]
Disclosure of operating segments [Line Items]
Net sales		4,832
Cost of sales		(1,648)
Research and development expenses		(123)
Selling and general expenses		(1,605)
Other operating income and expenses		94
Share of profit/(loss) from investments accounted for using the equity method		1
Net income attributable to non-controlling interests		(8)
Business operating income		1,543
New segment reporting model [member] | Vaccines [Member]
Disclosure of operating segments [Line Items]
Net sales		5,101
Other revenues		862
Cost of sales		(2,798)
Research and development expenses		(557)
Selling and general expenses		(698)
Other operating income and expenses		(107)
Share of profit/(loss) from investments accounted for using the equity method		1
Business operating income		1,804
New segment reporting model [member] | Other Segment [Member]
Disclosure of operating segments [Line Items]
Cost of sales		(271)
Research and development expenses		(736)
Selling and general expenses		(2,005)
Other operating income and expenses		(17)
Business operating income		(3,029)
New segment reporting model [member] | Reportable Segments [Member]
Disclosure of operating segments [Line Items]
Net sales		35,055
Other revenues		1,149
Cost of sales		(11,445)
Research and development expenses		(5,472)
Selling and general expenses		(10,058)
Other operating income and expenses		4
Share of profit/(loss) from investments accounted for using the equity method		235
Net income attributable to non-controlling interests		(125)
Business operating income		9,343
Previous segment reporting model [member] | Pharmaceuticals [Member]
Disclosure of operating segments [Line Items]
Net sales		29,954	29,244	29,799
Other revenues		287	274	288
Cost of sales		(8,628)	(8,349)	(8,788)
Research and development expenses		(4,835)	(4,618)	(4,530)
Selling and general expenses		(9,176)	(8,743)	(8,656)
Other operating income and expenses		180	(1)	(121)
Share of profit/(loss) from investments accounted for using the equity method		234	129	146
Net income attributable to non-controlling interests		(125)	(112)	(125)
Business operating income		7,891	7,824	8,013
Previous segment reporting model [member] | Vaccines [Member]
Disclosure of operating segments [Line Items]
Net sales		5,101	4,577	4,261
Other revenues		862	613	513
Cost of sales		(2,817)	(2,353)	(2,131)
Research and development expenses		(637)	(554)	(552)
Selling and general expenses		(881)	(743)	(726)
Other operating income and expenses		(108)	(14)	27
Share of profit/(loss) from investments accounted for using the equity method		1	48	23
Net income attributable to non-controlling interests			(1)	(1)
Business operating income		1,521	1,573	1,414
Previous segment reporting model [member] | Other Segment [Member]
Disclosure of operating segments [Line Items]
Selling and general expenses		(1)
Other operating income and expenses		(68)	(112)	(114)
Business operating income		(69)	(112)	(114)
Previous segment reporting model [member] | Reportable Segments [Member]
Disclosure of operating segments [Line Items]
Net sales		35,055	33,821	34,060
Other revenues		1,149	887	801
Cost of sales		(11,445)	(10,702)	(10,919)
Research and development expenses		(5,472)	(5,172)	(5,082)
Selling and general expenses		(10,058)	(9,486)	(9,382)
Other operating income and expenses		4	(127)	(208)
Share of profit/(loss) from investments accounted for using the equity method		235	177	169
Net income attributable to non-controlling interests		(125)	(113)	(126)
Business operating income		€ 9,343	€ 9,285	€ 9,313

[1] The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36.

[2] Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.).

XML

Segment Information - Schedule of Segment Results (Parenthetical) (Detail) - EUR (€) € in Millions		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of operating segments [Line Items]
Net sales	[1]	€ 35,055	€ 33,821	€ 34,060	[2]
Consumer healthcare segment [member]
Disclosure of operating segments [Line Items]
Net sales			€ 3,330	€ 3,492

[1] The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36.

[2] Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.).

XML

Segment Information - Schedule of Reconciliation Between Business Operating Income for the Segments and Income Before Tax and Investments Accounted for Using the Equity Method (Detail) - EUR (€) € in Millions		12 Months Ended
		Dec. 31, 2017		Dec. 31, 2016		Dec. 31, 2015
Disclosure of operating segments [Line Items]
Net income attributable to non-controlling interests	[1]	€ 121		€ 91		€ 101	[2]
Fair value remeasurement of contingent consideration	[1]	(159)		(135)		53	[2]
Restructuring costs and similar items		(731)		(879)		(795)
Other gains and losses, and litigation		(215)	[1]	211	[1]	0
Operating income	[1]	5,803		6,534		5,624	[2]
Financial expenses	[1]	(420)		(924)		(559)	[2]
Financial income	[1]	147		68		178	[2]
Income before tax and investments accounted for using the equity method		5,530		5,678		5,243
Operating Segments [Member]
Disclosure of operating segments [Line Items]
Business operating income		9,343		9,285		9,313
Material Reconciling Items [Member]
Disclosure of operating segments [Line Items]
Share of profit/(loss) from investments accounted for using the equity method		(235)		(177)		(169)
Net income attributable to non-controlling interests		125		113		126
Amortization and impairment of intangible assets		(2,159)		(1,884)		(2,904)
Fair value remeasurement of contingent consideration		(159)		(135)		53
Expenses arising from the impact of acquisitions on inventories		(166)
Restructuring costs and similar items		(731)		(879)		€ (795)
Other gains and losses, and litigation		€ (215)		€ 211

[1] The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36.

[2] Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.).

XML

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

XML

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

XML

Segment Information - Summary of Geographical Information on Net Sales and Non-Current Assets (Detail) - EUR (€) € in Millions		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of geographical areas [Line Items]
Net sales	[1]	€ 35,055	€ 33,821	€ 34,060	[2]
Property, plant and equipment		9,579	10,019	9,943
Goodwill		40,264	40,287	39,557
Other intangible assets		13,080	10,879	12,026
Reportable Geographical Zones [Member]
Disclosure of geographical areas [Line Items]
Net sales		35,055	33,821	34,060
Property, plant and equipment		9,579	10,019	9,943
Goodwill		40,264	40,287	39,557
Other intangible assets		13,080	10,879	12,026
Europe [Member]
Disclosure of geographical areas [Line Items]
Net sales		9,525	8,679	9,861
Property, plant and equipment		5,969	6,068	5,956
Other intangible assets		6,171	3,612	3,719
France [Member]
Disclosure of geographical areas [Line Items]
Net sales		2,330	2,206	2,248
Property, plant and equipment		3,180	3,413	3,480
North America [Member]
Disclosure of geographical areas [Line Items]
Net sales		12,460	12,963	12,369
Property, plant and equipment		2,560	2,850	2,879
Other intangible assets		5,210	5,430	5,980
United States [Member]
Disclosure of geographical areas [Line Items]
Net sales		11,855	12,391	11,764
Property, plant and equipment		2,142	2,447	2,498
Other Countries [Member]
Disclosure of geographical areas [Line Items]
Net sales		13,070	12,179	11,830
Property, plant and equipment		1,050	1,101	1,108
Other intangible assets		€ 1,699	€ 1,837	€ 2,327

[1] The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36.

[2] Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.).

XML

Exchanged/Held-For-Exchange Animal Health Business - Summary of Assets and Liabilities Held for Sale or Exchange (Detail) - EUR (€) € in Millions		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Assets
Property, plant and equipment		€ 9,579	€ 10,019	€ 9,943
Goodwill		40,264	40,287	39,557
Other intangible assets		13,080	10,879	12,026
Investments accounted for using the equity method		2,863	2,890	2,676
Other non-currentassets		3,364	2,820	2,725
Deferred tax assets		4,290	4,669	4,714
Inventories		6,816	6,892	6,516
Accounts receivable		7,216	7,311	7,386
Other current assets		2,005	2,211	1,878
Cash and cash equivalents	[1]	10,315	10,273	9,148	€ 7,341
Total assets held for sale or exchange		34	6,421	5,752
Liabilities
Long-term debt		14,326	16,815	13,118
Non-current provisions		9,154	8,834	9,169	€ 9,578
Deferred tax liabilities		1,605	2,292	2,895
Short-term debt		1,275	1,764	3,436
Other current liabilities		€ 5,087	5,815	5,131
Total liabilities related to assets held for sale or exchange			1,195	983
Animal Health Business [Member]
Assets
Property, plant and equipment			811	657
Goodwill			1,560	1,510
Other intangible assets			2,227	2,147
Investments accounted for using the equity method			12	6
Other non-currentassets			41	46
Deferred tax assets			180	177
Inventories			629	526
Accounts receivable			471	479
Other current assets			83	55
Cash and cash equivalents			362	23
Total assets held for sale or exchange			6,376	5,626
Liabilities
Long-term debt			6	4
Non-current provisions			134	149
Deferred tax liabilities			198	163
Short-term debt			148	18
Accounts payable			241	218
Other current liabilities			438	431
Total liabilities related to assets held for sale or exchange			€ 1,165	€ 983

[1] For 2015 and 2016, cash flows of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations). For 2017, all of the cash flows generated from the exchange of the Animal Health business for the Consumer Healthcare business of Boehringer Ingelheim (BI) are described in note (i) below.

XML

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

XML

Exchanged/Held-For-Exchange Animal Health Business - Summary of Main Items Included in Net Income/(Loss) of Held-for-Exchange Animal Health Business (Detail) - EUR (€) € in Millions		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of Net Income Loss of Held for Exchange Animal Health Business [Line Items]
Net sales	[1]	€ 35,055	€ 33,821	€ 34,060	[2]
Gross profit	[1]	24,593	24,006	23,942	[2]
Operating income	[1]	5,803	6,534	5,624	[2]
Net income/(loss) of the exchanged/held-for-exchangeAnimal Health business	[1],[3]	4,643	314	(124)	[2]
Animal Health Business [Member]
Disclosure of Net Income Loss of Held for Exchange Animal Health Business [Line Items]
Net sales			2,708	2,515
Gross profit			1,850	1,671
Operating income			678	101
Income before tax and investments accounted for using the equity method		6,343	672	92
Income tax expense		(1,700)	(359)	(216)
Net income/(loss) of the exchanged/held-for-exchangeAnimal Health business		€ 4,643	€ 314	€ (124)

[1] The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36.

[2] Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.).

[3] For 2015 and 2016, cash flows of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations). For 2017, all of the cash flows generated from the exchange of the Animal Health business for the Consumer Healthcare business of Boehringer Ingelheim (BI) are described in note (i) below.

XML

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

XML

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)

[1] For 2015 and 2016, cash flows of the Animal Health business are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations). For 2017, all of the cash flows generated from the exchange of the Animal Health business for the Consumer Healthcare business of Boehringer Ingelheim (BI) are described in note (i) below.

[2] The results of the Animal Health business, and the gain on the divestment of that business, are presented separately in accordance with IFRS 5 (Non-Current Assets Held for Sale and Discontinued Operations); see Notes D.1. and D.36.

[3] Following a change in accounting presentation in 2016, VaxServe sales of non-Sanofi products are included in Other revenues. The presentation of 2015 Net sales and Other revenues has been amended accordingly (see Note B.13.).

XML

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

XML

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

XML

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%

XML

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%

XML

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