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Consolidated shareholders’ equity (Tables)
 12 Months Ended
Dec. 31, 2022
Share Capital, Reserves And Other Equity Interest [Abstract]  
Summary of Treasury Shares Held Treasury shares held by Sanofi are as follows:
Number of shares
(million)
% of share capital
for the period
December 31, 20228.20 0.650 %
December 31, 202111.02 0.872 %
December 31, 20208.28 0.658 %
January 1, 20200.02 0.002 %
Summary of Movements Share Capital
Movements in the share capital of the Sanofi parent company over the last three years are set forth below:
DateTransactionNumber of shares
December 31, 20191,253,846,111 
During 2020
Capital increase by exercise of stock subscription options(a)
868,655 
During 2020
Capital increase by issuance of restricted shares(b)
1,666,256 
Board meeting of July 28, 2020Capital increase reserved for employees2,590,716 
December 31, 20201,258,971,738 
During 2021
Capital increase by exercise of stock subscription options(a)
190,076 
During 2021
Capital increase by issuance of restricted shares(b)
1,836,179 
Board meeting of July 28, 2021Capital increase reserved for employees2,562,702 
December 31, 20211,263,560,695 
During 2022
Capital increase by exercise of stock subscription options(a)
490,373 
During 2022
Capital increase by issuance of restricted shares(b)
1,499,987 
Board meeting of July 27, 2022Capital increase reserved for employees2,027,057 
Board meeting of December 14, 2022Reduction in share capital by cancellation of
treasury shares		(6,742,380)
December 31, 20221,260,835,732 
(a) Shares issued on exercise of Sanofi stock subscription options.
(b) 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:
202220212020
Type of planPerformance
share plans		Performance
share plans		Performance
share plans		Performance
share plans		Performance
share plans		Performance
share plans
Date of Board meeting approving the planMay 3, 2022December 14, 2022April 30, 2021October 27, 2021April 28, 2020October 28, 2020
Service period3 years3 years3 years3 years3 years3 years
Total number of shares awarded 3,344,432 109,981 3,484,420 13,521 3,340,501 73,027 
Of which with no market condition2,000,627 10,335 2,209,901 — 2,536,893 — 
Fair value per share awarded(a)
€91.19 €79.17 €77.27 — €82.36 — 
Of which with market condition1,343,805 99,646 1,274,519 13,521 803,608 73,027 
Fair value per share awarded other than to the Chief Executive Officer(b)
€86.65 €69.60 €71.30 €68.45 €76.11 €63.18 
Fair value per share awarded other than to the Chief Executive Officer - additional shares(c)
€49.00 €54.70 — — — — 
Fair value per share awarded to the Chief Executive Officer(b)
€84.46 — €71.30 — €76.11 — 
Fair value of plan at the date of grant (€ million)294 8 262 1 270 5 
(a)    Market price of Sanofi shares at the date of grant, adjusted for dividends expected during the vesting period.
(b)    Weighting between (i) fair value determined using the Monte Carlo model and (ii) market price of Sanofi shares at the date of grant, adjusted for dividends expected during the vesting period.
(c)    Additional tranche subject to a higher level of market conditions: 114,874 additional shares were awarded in May 2022, and 9,066 additional shares were awarded in December 2022.
Summary of Number of Restricted Shares Not Yet Fully Vested
The total expense recognized for all restricted share plans, and the number of restricted shares not yet fully vested, are shown in the table below:
202220212020
Total expense for restricted share plans (€ million)206 193 222 
Number of shares not yet fully vested9,121,573 9,507,849 10,546,612 
Under 2022 plans3,206,861 — — 
Under 2021 plans3,097,531 3,364,895 — 
Under 2020 plans2,817,181 3,014,496 3,284,558 
Under 2019 plans— 3,128,458 3,375,717 
Under 2018 plans— — 3,886,337 
Summary of Characteristics of Employee Share Ownership Plans Awarded
The characteristics of the employee share ownership plans awarded in the form of a capital increase reserved for employees in 2022, 2021 and 2020 are summarized in the table below:
202220212020
Date of Board meeting approving the planFebruary 3, 2022February 4, 2021February 5, 2020
Subscription price (€)(a)
80.21 69.38 70.67 
Subscription periodJune 9-29, 2022June 7-25, 2021June 8-26, 2020
Number of shares subscribed1,909,008 2,438,590 2,467,101 
Number of shares issued immediately as employer’s contribution118,049 124,112 123,615 
(a) Subscription price representing 80% of the average of the opening quoted market prices of Sanofi shares during the 20 trading days preceding June 6, 2022, June 3, 2021 and June 2, 2020, respectively.
Summary of Expenses
The table below sets forth the expense recognized for each plan:
(€ million)202220212020
Expense recognized39 51 52 
of which employer’s contribution11 11 11 
Summary of Repurchases program The following repurchases have been made under those programs:
(in number of shares and € million)

Year of authorization
202220212020
Number
of shares		ValueNumber
of shares		ValueNumber
of shares		Value
2022 program1,510,000 137 — — — — 
2021 program3,976,992 360 2,765,388 242 — — 
2020 program— — 1,758,569 140 5,685,426 461 
2019 program— — — — 3,982,939 361 
Summary of Currency Translation Differences
Currency translation differences comprise the following:
(€ million)
202220212020
(a)
Attributable to equity holders of Sanofi1,499 (865)(3,384)
Attributable to non-controlling interests(37)(42)(55)
Total1,462 (907)(3,439)
(a) Includes the impact of the IFRIC agenda decision of March 2021 on the costs of configuring or customising application software used in a Software as a Service (SaaS) arrangement, as described in Note A.2.1. to the financial statements for the year ended December 31, 2021.
Summary of Movements within Other Comprehensive Income
Movements within other comprehensive income are shown below:
(€ million)202220212020
(a)
Actuarial gains/(losses):
•Actuarial gains/(losses) excluding investments accounted for using the equity method (see Note D.19.1.)
650 685 (266)
•Actuarial gains/(losses) of investments accounted for using the equity method, net of taxes
4 1 (1)
•Tax effects
(212)(36)45 
Equity instruments included in financial assets and financial liabilities:
•Change in fair value (excluding investments accounted for using the equity method)
(4)154 358 
•Change in fair value (investments accounted for using the equity method, net of taxes)
— — (14)
•Equity risk hedging instruments designated as fair value hedges
17 11 (24)
•Tax effects
(4)(18)(84)
Items not subsequently reclassifiable to profit or loss451 797 14 
Debt instruments included in financial assets:
•Change in fair value (excluding investments accounted for using the equity method)(b)
(77)(21)15 
•Tax effects
15 5 (3)
Cash flow and fair value hedges:
•Change in fair value (excluding investments accounted for using the equity method)(c)
5 (6)4 
•Change in fair value (investments accounted for using the equity method, net of taxes)
2 — — 
▪Tax effects
(1)2 (2)
Change in currency translation differences:
•Currency translation differences on foreign subsidiaries (excluding investments accounted for using the equity method)(d)
2,643 2,719 (3,870)
•Currency translation differences (investments accounted for using the equity method)(d)
(11)(6)32 
•Currency translation differences related to the investment in Regeneron and reclassified to profit or loss(e)
— — (318)
•Hedges of net investments in foreign operations(d)
(354)(254)180 
•Tax effects(e)
91 71 (59)
Items subsequently reclassifiable to profit or loss2,313 2,510 (4,021)
(a) Includes the impacts of the IFRIC final agenda decisions of March 2021 on the costs of configuring or customising application software used in a Software as a Service (SaaS) arrangement and of April 2021 on the attribution of benefits to periods of service, as described in Note A.2.1. to the consolidated financial statements for the year ended December 31, 2021.
(b) Amounts reclassified to profit or loss: immaterial amount in 2022, €4 million in 2021 and €5 million in 2020.
(c) Amounts reclassified to profit or loss: €2 million in 2022, €12 million in 2021 and €1 million in 2020.
(d) Amounts reclassified to profit or loss: €40 million in 2022, including €35 million relating to the deconsolidation of EUROAPI (see note D.1.). The amounts reclassified to profit and loss were immaterial in 2021 and 2020. Currency translation differences arise from the translation into euros of the financial statements of foreign subsidiaries, and are mainly due to the appreciation of the dollar against the euro.
(e)     The amount recorded for 2020 relates to the translation reserve arising on the investment in Regeneron; the reserve was reclassified to profit or loss in accordance with IAS 21 (The Effects of Changes in Foreign Exchange Rates), including €2 million (net of tax) relating to hedges of net investments in foreign operations.
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, 2022:
SourceDate of grantNumber of
options
granted		Start date of
exercise
period		Expiry dateExercise
price (€)		Number of options outstanding as of 12/31/2022
Sanofi-Aventis03/05/2012814,050 03/06/201603/05/202256.44 — 
Sanofi03/05/2013788,725 03/06/201703/05/202372.19 78,089 
Sanofi03/05/20141,009,250 03/06/201803/05/202473.48 506,042 
Sanofi06/24/2015435,000 06/25/201906/24/202589.38 338,464 
Sanofi05/04/2016402,750 05/05/202005/04/202675.90 264,750 
Sanofi05/10/2017378,040 05/11/202105/10/202788.97 268,440 
Sanofi05/02/2018220,000 05/03/202205/02/202865.84 168,784 
Sanofi04/30/2019220,000 05/02/202304/30/202976.71 213,400 
Total1,837,969 
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, 20203,822,020 70.58 270 
Options exercisable2,650,375 67.14 178 
Options exercised(868,655)59.20 (52)
Options cancelled(a) 
(91,305)87.73 (8)
Options forfeited(282,790)54.12 (15)
Options outstanding at December 31, 20202,579,270 75.61 195 
Options exercisable1,845,050 74.51 137 
Options exercised(190,076)59.53 (11)
Options cancelled(a) 
(51,216)65.84 (3)
Options forfeited(10)50.48 — 
Options outstanding at December 31, 20212,337,968 77.13 180 
Options exercisable1,949,184 78.15 152 
Options exercised(490,373)71.39 (35)
Options cancelled(a) 
(9,626)80.56 (1)
Options outstanding at December 31, 20221,837,969 78.64 145 
Options exercisable1,624,569 78.89 128 
(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, 2022:
OutstandingExercisable
Range of exercise prices per shareNumber of
options		Weighted
average
residual life
(years)		Weighted
average
exercise
price per
share (€)		Number of
options		Weighted
average
exercise
price per
share (€)
From €60.00 to €70.00 per share
168,784 5.3465.84 168,784 65.84 
From €70.00 to €80.00 per share
1,062,281 2.6874.64 848,881 74.12 
From €80.00 to €90.00 per share
606,904 3.3189.20 606,904 89.20 
Total1,837,969 1,624,569 
Summary of Number of Shares Used to Compute Diluted Earnings Per Share
(million)202220212020
Average number of shares outstanding1,251.9 1,252.5 1,253.6 
Adjustment for stock options with dilutive effect0.3 0.3 0.4 
Adjustment for restricted shares4.7 5.1 6.1 
Average number of shares used to compute diluted earnings per share1,256.9 1,257.9 1,260.1