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Provisions, income tax liabilities and other liabilities (Tables) | 12 Months Ended
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Dec. 31, 2023
Subclassifications of assets, liabilities and equities [abstract] |
Summary of Non Current Provisions and Other Non-current Liabilities | The line item Non current provisions and other non-current liabilities comprises the following:
(€ million) | 2023 | 2022 |  | 2021 |
Provisions | 5,262 |  | 5,822 |  |  | 6,430 |  |
Other non-current liabilities(a) | 2,340 |  | 519 |  |  | 291 |  |
Total | 7,602 |  | 6,341 |  |  | 6,721 |  |
(a) Includes derivative financial instruments: €164 million as of December 31, 2023, €232 million as of December 31, 2022, €6 million as of December 31, 2021. The figure as of December 31, 2023 includes €1,960 million for the liability in respect of royalties payable to Sobi on net sales of BEYFORTUS (nirsevimab) in the United States (see Note C.2.). Given the method used to calculate royalties payable, an increase or decrease in sales forecasts would lead to a proportionate change in the amount of the liability. The nominal value of payments estimated to be due within more than one year but less than five years is €1,112 million; the nominal value of payments estimated to be due after more than five years is €2,860 million.
Summary of Movements in Non-current Provisions | The table below sets forth movements in non-current provisions for the reporting periods presented:
(€ million) | Provisions for pensions and other post-employment benefits (D.19.1.) |  | Provisions for other long-term benefits | Restructuring provisions (D.19.2.) | Other provisions (D.19.3.) |  | Total
Balance at January 1, 2021 | 3,276 |  | (b) | 879 |  | 868 |  | 1,975 |  |  | 6,998 |
Changes in scope of consolidation | (2) |  |  | — |  | — |  | 37 |  |  | 35 |
Increases in provisions | 247 |  | (a) | 156 |  | 67 |  | 261 |  |  | 731 |
Provisions utilized | (222) |  | (a) | (122) |  | (8) |  | (107) |  |  | (459) |
Reversals of unutilized provisions | (13) |  | (a) | (7) |  | (35) |  | (145) |  |  | (200) |
Transfers | (13) |  |  | (3) |  | (370) |  | (39) |  |  | (425) |
Net interest related to employee benefits, and unwinding of discount | 42 |  |  | 2 |  | — |  | 9 |  |  | 53 |
Currency translation differences | 80 |  |  | 30 |  | 2 |  | 33 |  |  | 145 |
Actuarial gains and losses on defined-benefit plans | (448) |  |  | — |  | — |  | — |  |  | (448) |
Balance at December 31, 2021 | 2,947 |  |  | 935 |  | 524 |  | 2,024 |  |  | 6,430 |
Changes in scope of consolidation | (96) |  |  | (28) |  | — |  | (76) |  |  | (200) |
Increases in provisions | 193 |  | (a) | 40 |  | 521 |  | 531 |  |  | 1,285 |
Provisions utilized | (275) |  | (a) | (119) |  | (12) |  | (122) |  |  | (528) |
Reversals of unutilized provisions | (66) |  | (a) | (20) |  | (11) |  | (191) |  |  | (288) |
Transfers | 10 |  |  | 4 |  | (265) |  | (23) |  |  | (274) |
Net interest related to employee benefits, and unwinding of discount | 43 |  |  | 4 |  | 5 |  | 12 |  |  | 64 |
Currency translation differences | 63 |  |  | 28 |  | (1) |  | 23 |  |  | 113 |
Actuarial gains and losses on defined-benefit plans | (780) |  |  | — |  | — |  | — |  |  | (780) |
Balance at December 31, 2022 | 2,039 |  |  | 844 |  | 761 |  | 2,178 |  |  | 5,822 |
Changes in scope of consolidation | — |  |  | — |  | — |  | — |  |  | — |
Increases in provisions | 141 |  | (a) | 185 |  | 315 |  | 311 |  |  | 952 |
Provisions utilized | (162) |  | (a) | (107) |  | (25) |  | (114) |  |  | (408) |
Reversals of unutilized provisions | (21) |  | (a) | (190) |  | (159) |  | (388) |  |  | (758) |
Transfers | (1) |  |  | — |  | (361) |  | (210) |  |  | (572) |
Net interest related to employee benefits, and unwinding of discount | 70 |  |  | 3 |  | 23 |  | 24 |  |  | 120 |
Currency translation differences | (23) |  |  | (17) |  | — |  | (25) |  |  | (65) |
Actuarial gains and losses on defined-benefit plans | 171 |  |  | — |  | — |  | — |  |  | 171 |
Balance at December 31, 2023 | 2,214 |  |  | 718 |  | 554 |  | 1,776 |  |  | 5,262 |
(a) In the case of “Provisions for pensions and other post-employment benefits”, the “Increases in provisions” 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 to beneficiaries; and the “Reversals of unutilized provisions” line corresponds to plan curtailments, settlements and amendments. (b) Includes the impact of the April 2021 IFRIC agenda decision on the allocation of benefits to service periods, as described in Note A.2.1. to the consolidated financial statements for the year ended December 31, 2021.
Summary of Financial and Demographic Assumptions | Those calculations were based on the following financial and demographic assumptions:
| 2023 | 2022 | 2021
| France | Germany | US | UK | France | Germany | US | UK | France | Germany | US | UK
Discount rate(a)(b) | 2.95% to 3.15% | 2.95% to 3.15% | 4.75% | 4.50% | 3.55% to 3.75% | 3.55% to 3.75% | 4.90% | 4.75% | 0.10% to 1.10% | 0.10% to 1.10% | 2.70% | 1.90%
General inflation rate(c) | 2.20% | 2.20% | — |  | 3.05% | 2.50% | 2.50% | — |  | 3.25% | 1.95% | 1.95% | — |  | 3.30%
Pension benefit indexation | 2.20% | 2.20% | — |  | 2.90% | 2.50% | 2.50% | — |  | 3.00% | 1.95% | 1.95% | — |  | 3.15%
Healthcare cost inflation rate(d) | — |  | — |  | 4.00% to 9.75% | — |  | — |  | — |  | 3.29% to 6.56% | — |  | — |  | — |  | 3.50% to 4.50% | — |
Retirement age | 62 to 67 | 63 | 55 to 70 | 60 to 65 | 62 to 67 | 63 | 55 to 70 | 60 to 65 | 62 to 67 | 62 | 55 to 70 | 60 to 65
Mortality table | TGH/ TGF 05 | Heubeck RT 2018 G | RP2012 Proj. MP2021 White Collar | SAPS S3 | TGH/ TGF 05 | Heubeck RT 2018 G | RP2012 Proj. MP2021 White Collar | SAPS S3 | TGH/ TGF 05 | Heubeck RT 2018 G | RP2012 Proj. G. Scale MP2020 White Collar | SAPS S3
(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 for all periods presented. (b) The rate depends on the duration of the plan (0 to 7 years, 7 to 10 years, or more than 10 years). (c) Inflation for the euro zone is determined using a multi-criterion method. (d) No post-employment healthcare benefits are provided in France since 2020, Germany and UK.
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:
| 2023 | 2022 | 2021
(years) | France | Germany | US | UK | France | Germany | US | UK | France | Germany | US | UK
Weighted average duration | 10 | 12 | 11 | 13 | 10 | 12 | 11 | 13 | 12 | 16 | 15 | 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 | US | UK
Discount rate | -0.50 | % | +56 |  | +170 |  | +78 |  | +42 |
General inflation rate | +0.50 | % | +40 |  | +220 |  | — |  | +43 |
Pension benefit indexation | +0.50 | % | +41 |  | +216 |  | — |  | +20 |
Healthcare cost inflation rate | +0.50 | % | +5 |  | — |  | +5 |  | +43 |
Mortality table | +1 year | +38 |  | +53 |  | +25 |  | +19 |
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) | 2023 | 2022 | 2021 | (a)
Measurement of the obligation: |  |  |  |
Beginning of period | 8,651 |  | 12,175 |  | 12,456 |  |
Current service cost | 140 |  | 193 |  | 227 |  |
Interest cost | 346 |  | 206 |  | 148 |  |
Actuarial losses/(gains) due to changes in demographic assumptions | (34) |  | (219) |  | (162) |  |
Actuarial losses/(gains) due to changes in financial assumptions | 157 |  | (3,006) |  | (210) |  |
Actuarial losses/(gains) due to experience adjustments | 256 |  | 177 |  | (120) |  |
Plan amendments, curtailments or settlements not specified in the terms of the plan(b) | (36) |  | (229) |  | (4) |  |
Plan settlements specified in the terms of the plan | (40) |  | (84) |  | (66) |  |
Benefits paid | (483) |  | (463) |  | (503) |  |
Changes in scope of consolidation and transfers | (14) |  | (114) |  | (8) |  |
Currency translation differences | (13) |  | 15 |  | 417 |  |
Obligation at end of period | 8,930 |  | 8,651 |  | 12,175 |  |
Fair value of plan assets: |  |  |  |
Beginning of period | 6,899 |  | 9,651 |  | 9,358 |  |
Interest income on plan assets | 276 |  | 163 |  | 106 |  |
Difference between actual return and interest income on plan assets | 197 |  | (2,398) |  | 207 |  |
Administration costs | (7) |  | (6) |  | (7) |  |
Plan settlements specified in the terms of the plan | (40) |  | (84) |  | (66) |  |
Plan settlements not specified in the terms of the plan | (17) |  | (161) |  | (9) |  |
Contributions from plan members | 6 |  | 6 |  | 6 |  |
Employer’s contributions | 122 |  | 238 |  | 176 |  |
Benefits paid | (446) |  | (426) |  | (458) |  |
Changes in scope of consolidation and transfers | (8) |  | (32) |  | (6) |  |
Currency translation differences | 11 |  | (52) |  | 344 |  |
Fair value of plan assets at end of period | 6,993 |  | 6,899 |  | 9,651 |  |
Net amount shown in the balance sheet: |  |  |  |
Net obligation | 1,937 |  | 1,752 |  | 2,524 |  |
Effect of asset ceiling | 6 |  | 18 |  | 15 |  |
Net amount shown in the balance sheet at end of period | 1,943 |  | 1,770 |  | 2,539 |  |
Amounts recognized in the balance sheet: |  |  |  |
Pre-funded obligations (see Note D.7.)(b) | (271) |  | (269) |  | (408) |  |
Obligations provided for | 2,214 |  | 2,039 |  | 2,947 |  |
Net amount recognized at end of period | 1,943 |  | 1,770 |  | 2,539 |  |
Benefit cost for the period: |  |  |  |
Current service cost | 140 |  | 193 |  | 227 |  |
(Gains)/losses related to plan amendments, curtailments or settlements not specified in the terms of the plan | (22) |  | (68) |  | 5 |  |
Net interest (income)/cost | 71 |  | 43 |  | 42 |  |
Contributions from plan members | (6) |  | (6) |  | (6) |  |
Administration costs and taxes paid during the period | 7 |  | 6 |  | 7 |  |
Expense recognized directly in profit or loss | 190 |  | 168 |  | 276 |  |
Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses)(c) | 171 |  | (650) |  | (685) |  |
Expense/(gain) for the period | 361 |  | (482) |  | (409) |  |
(a) These amounts include the impact of applying the April 2021 IFRIC agenda decision on the attribution of benefits to periods of service. (b) For 2023, this line includes €66 million of assets in the United Kingdom (versus €99 million for 2022 and €220 million for 2021); those amounts are not subject to any asset ceiling, in accordance with IFRIC 14. (c) Amounts recognized in Other comprehensive income (see Note D.15.7.).
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:
(€ million) | Pensions and other post-employment benefits by geographical region
December 31, 2023 | France | Germany | US | UK | Other | Total
Measurement of obligation | 1,322 |  | 2,911 |  | 1,528 |  | 2,174 |  | 995 |  | 8,930 |
Fair value of plan assets | 675 |  | 2,401 |  | 825 |  | 2,235 |  | 857 |  | 6,993 |
Effect of asset ceiling | — |  | — |  | — |  | — |  | (6) |  | (6) |
Net amount shown in the balance sheet at end of period | 647 |  | 510 |  | 703 |  | (61) |  | 144 |  | 1,943 |
(€ million) | Pensions and other post-employment benefits by geographical region
December 31, 2022 | France | Germany | US | UK | Other | Total
Measurement of obligation | 1,324 |  | 2,730 |  | 1,546 |  | 2,080 |  | 971 |  | 8,651 |
Fair value of plan assets | 697 |  | 2,317 |  | 860 |  | 2,175 |  | 850 |  | 6,899 |
Effect of asset ceiling | — |  | — |  | — |  | — |  | (18) |  | (18) |
Net amount shown in the balance sheet at end of period | 627 |  | 413 |  | 686 |  | (95) |  | 139 |  | 1,770 |
(€ million) | Pensions and other post-employment benefits by geographical region
December 31, 2021 | France | Germany | US | UK | Other | Total
Measurement of obligation | 1,657 |  | 3,576 |  | 2,099 |  | 3,414 |  | 1,429 |  | 12,175 |
Fair value of plan assets | 838 |  | 2,808 |  | 1,127 |  | 3,629 |  | 1,249 |  | 9,651 |
Effect of asset ceiling | — |  | — |  | — |  | — |  | (15) |  | (15) |
Net amount shown in the balance sheet at end of period | 819 |  | 768 |  | 972 |  | (215) |  | 195 |  | 2,539 |
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:
| 2023 | 2022 | 2021
Securities quoted in an active market | 84.9 | % | 84.4 | % | 86.9 | %
Cash and cash equivalents | 0.8 | % | 0.7 | % | 0.7 | %
Equity instruments | 22.3 | % | 21.7 | % | 25.0 | %
Bonds and similar instruments | 54.3 | % | 52.4 | % | 53.8 | %
Real estate | 3.4 | % | 4.0 | % | 4.0 | %
Derivatives | — | % | 0.1 | % | — | %
Commodities | 0.9 | % | 0.9 | % | 1.0 | %
Other | 3.2 | % | 4.6 | % | 2.4 | %
Other securities | 15.1 | % | 15.6 | % | 13.1 | %
Hedge funds | — | % | — | % | — | %
Insurance policies | 15.1 | % | 15.6 | % | 13.1 | %
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 2023 | France | Germany | US | UK | Other | Total
Current service cost | 50 |  | 30 |  | 20 |  | — |  | 40 |  | 140 |
(Gains)/losses related to plan amendments, curtailments or settlements not specified in the terms of the plan | (20) |  | — |  | 1 |  | — |  | (3) |  | (22) |
Net interest cost/(income) including administration costs and taxes paid during the period | 22 |  | 15 |  | 35 |  | (5) |  | 11 |  | 78 |
Contributions from plan members | — |  | — |  | — |  | — |  | (6) |  | (6) |
Expense/(gain) recognized directly in profit or loss | 52 |  | 45 |  | 56 |  | (5) |  | 42 |  | 190 |
Remeasurement of net defined-benefit (asset)/ liability (actuarial gains and losses) | 3 |  | 98 |  | 26 |  | 44 |  | — |  | 171 |
Expense/(gain) for the period | 55 |  | 143 |  | 82 |  | 39 |  | 42 |  | 361 |
(€ million) | Pensions and other post-employment benefits by geographical region
Service cost for 2022 | France | Germany | US | UK | Other | Total
Current service cost | 61 |  | 44 |  | 50 |  | — |  | 38 |  | 193 |
(Gains)/losses related to plan amendments, curtailments or settlements not specified in the terms of the plan | (60) |  | 2 |  | 1 |  | (6) |  | (5) |  | (68) |
Net interest cost/(income) including administration costs and taxes paid during the period | 10 |  | 7 |  | 30 |  | (7) |  | 9 |  | 49 |
Contributions from plan members | — |  | — |  | — |  | — |  | (6) |  | (6) |
Expense/(gain) recognized directly in profit or loss | 11 |  | 53 |  | 81 |  | (13) |  | 36 |  | 168 |
Remeasurement of net defined-benefit (asset)/ liability (actuarial gains and losses) | (156) |  | (204) |  | (382) |  | 130 |  | (38) |  | (650) |
Expense/(gain) for the period | (145) |  | (151) |  | (301) |  | 117 |  | (2) |  | (482) |
(€ million) | Pensions and other post-employment benefits by geographical region
Service cost for 2021 | France | Germany | US | UK | Other | Total
Current service cost | 72 |  | 47 |  | 57 |  | — |  | 51 |  | 227 |
(Gains)/losses related to plan amendments, curtailments or settlements not specified in the terms of the plan | 2 |  | — |  | — |  | 3 |  | — |  | 5 |
Net interest cost/(income) including administration costs and taxes paid during the period | 5 |  | 5 |  | 27 |  | 3 |  | 9 |  | 49 |
Contributions from plan members | — |  | — |  | — |  | — |  | (6) |  | (6) |
Expense/(gain) recognized directly in profit or loss | 80 |  | 52 |  | 84 |  | 6 |  | 54 |  | 276 |
Remeasurement of net defined-benefit (asset)/liability (actuarial gains and losses) | (106) |  | (113) |  | (157) |  | (236) |  | (73) |  | (685) |
Expense/(gain) for the period | (26) |  | (61) |  | (73) |  | (230) |  | (19) |  | (409) |
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:
(€ million) | 2023 | 2022 | 2021
France | Germany | US | UK | France | Germany | US | UK | France | Germany | US | UK
Actuarial gains/(losses) arising during the period | (3) |  | (98) |  | (25) |  | (44) |  | 156 |  | 205 |  | 382 |  | (131) |  | 106 |  | 113 |  | 156 |  | 237 |
Comprising: |  |  |  |  |  |  |  |  |  |  |  |
Gains/(losses) on experience adjustments(a) | 16 |  | (54) |  | (7) |  | (12) |  | (120) |  | (620) |  | (287) |  | (1,328) |  | 60 |  | 182 |  | 23 |  | 35 |
Gains/(losses) on demographic assumptions | — |  | — |  | 18 |  | 11 |  | — |  | — |  | 129 |  | 54 |  | — |  | — |  | 51 |  | 125 |
Gains/(losses) on financial assumptions | (19) |  | (44) |  | (36) |  | (43) |  | 276 |  | 825 |  | 540 |  | 1,143 |  | 46 |  | (69) |  | 82 |  | 77 |
(a) Experience adjustments are mainly due to the effect on plan assets of trends in the financial markets.
Summary of Net Pre-tax Actuarial Loss | The net pre-tax actuarial loss (excluding investments accounted for using the equity method) recognized directly in equity is presented below:
(€ million) | 2023 | 2022 | 2021
Net pre-tax actuarial loss | (2,259) |  | (2,090) |  | (2,738) |
Summary of Present Value of Pension and Other Post Employement Benefits | The present value of Sanofi’s obligations in respect of pension and other post-employment benefit plans at the end of each reporting period is shown below:
(€ million) | 2023 | 2022 | 2021
Present value of wholly or partially funded obligations in respect of pension and other post-employment benefit plans | 7,693 |  | 7,463 |  | 10,416 |
Present value of unfunded obligations | 1,237 |  | 1,188 |  | 1,759 |
Total | 8,930 |  | 8,651 |  | 12,175 |
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 (€190 million in 2023) is allocated between income statement line items as follows:
(€ million) | 2023 | 2022 | 2021
Cost of sales | 34 |  | 55 |  | 77 |
Research and development expenses | 28 |  | 52 |  | 65 |
Selling and general expenses | 61 |  | 81 |  | 87 |
Other operating (income)/expenses, net | 5 |  | (2) |  | (1) |
Restructuring costs | (9) |  | (61) |  | 6 |
Financial expenses | 71 |  | 43 |  | 42 |
Total | 190 |  | 168 |  | 276 |
Estimated Amounts of Employer's Contributions to Plan Assets | The estimated amounts of employer’s contributions to plan assets in 2024 are as follows:
(€ million) | France | Germany | US | UK | Other | Total
Employer’s contributions in 2024 (estimate): |  |  |  |  |  |
2024 | — |  | — |  | — |  | 46 |  | 40 |  | 86 |
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 future years:
(€ million) | France | Germany | US | UK | Other | Total
Estimated future benefit payments |  |  |  |  |  |
2024 | 103 |  | 198 |  | 102 |  | 116 |  | 60 |  | 579 |
2025 | 68 |  | 212 |  | 91 |  | 120 |  | 54 |  | 545 |
2026 | 60 |  | 218 |  | 95 |  | 123 |  | 60 |  | 556 |
2027 | 79 |  | 221 |  | 98 |  | 127 |  | 59 |  | 584 |
2028 | 93 |  | 229 |  | 101 |  | 131 |  | 62 |  | 616 |
2029 to 2033 | 438 |  | 1,190 |  | 526 |  | 716 |  | 343 |  | 3,213 |
Timing of Future Payments in Respect of Unfunded Pension and Other Post-employment Benefit Plans | The table below shows estimates as of December 31, 2023 for the timing of future payments in respect of unfunded pension and other post-employment benefit plans:
| Total | Payments due by period
(€ million) | Less than 1 year | 1 to 3 years | 3 to 5 years | More than 5 years
Estimated payments | 1,238 |  | 86 |  | 117 |  | 144 |  | 891 |
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) | 2023 | 2022 | 2021
Balance, beginning of period | 1,233 |  | 1,118 |  | 1,499 |
Of which: |  |  |
•Classified in non-current liabilities | 761 |  | 524 |  | 868 |
•Classified in current liabilities | 472 |  | 594 |  | 631 |
Change in provisions recognized in profit or loss for the period | 435 |  | 636 |  | 183 |
Provisions utilized(a) | (561) |  | (522) |  | (571) |
Transfers | 3 |  | — |  | 1 |
Unwinding of discount | 31 |  | 5 |  | — |
Currency translation differences | (9) |  | (4) |  | 6 |
Balance, end of period | 1,132 |  | 1,233 |  | 1,118 |
Of which: |  |  |
•Classified in non-current liabilities | 554 |  | 761 |  | 524 |
•Classified in current liabilities | 578 |  | 472 |  | 594 |
(a) Provisions utilized mainly correspond to payments related to employees affected by separation programs.
Timing of Future Termination Benefit Payments | The timing of future termination benefit payments is as follows:
December 31, 2023 | Total | Benefit payments by period
(€ million) | Less than 1 year | 1 to 3 years | 3 to 5 years | More than 5 years
Employee termination benefits |  |  |  |  |
•France | 611 |  | 215 |  | 315 |  | 79 |  | 2 |
•Other countries | 357 |  | 302 |  | 47 |  | 7 |  | 1 |
Total | 968 |  | 517 |  | 362 |  | 86 |  | 3 |
December 31, 2022 |  | 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 | 804 |  | 185 |  | 412 |  | 207 |  | — |
•Other countries | 235 |  | 189 |  | 36 |  | 8 |  | 2 |
Total | 1,039 |  | 374 |  | 448 |  | 215 |  | 2 |
December 31, 2021 |  | 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 | 614 |  | 269 |  | 288 |  | 53 |  | 4 |
•Other countries | 329 |  | 207 |  | 106 |  | 14 |  | 2 |
Total | 943 |  | 476 |  | 394 |  | 67 |  | 6 |
Summary of Other Provisions | Other provisions include provisions for risks and litigation relating to environmental, tax, commercial and product liability matters.
(€ million) | 2023 | 2022 | 2021
Environmental risks | 493 |  | 526 |  | 650 |
Product liability risks, litigation and other | 1,283 |  | 1,652 |  | 1,374 |
Total | 1,776 |  | 2,178 |  | 2,024 |
Current Provisions and Other Current Liabilities | Current provisions and other current liabilities comprise the following:
(€ million) | 2023 | 2022 | 2021
Taxes payable, other than corporate income taxes | 395 |  | 420 |  | 428 |
Employee-related liabilities | 2,106 |  | 2,158 |  | 2,126 |
Restructuring provisions (see Note D.19.2.) | 578 |  | 472 |  | 594 |
Interest rate derivatives (see Note D.20.) | 1 |  | — |  | 1 |
Currency derivatives (see Note D.20.) | 126 |  | 94 |  | 62 |
Equity derivatives (see Note D.20.) | — |  | — |  | 16 |
Amounts payable for acquisitions of non-current assets | 945 |  | 714 |  | 559 |
Customer contract liabilities(a) | — |  | 269 |  | 321 |
Other current liabilities(b)(c) | 9,590 |  | 7,894 |  | 7,110 |
Total | 13,741 |  | 12,021 |  | 11,217 |
(a) See Note A.5., “Agreements relating to the recombinant COVID-19 vaccine candidate developed by Sanofi in collaboration with GSK”. The year-on-year change in this item between 2022 and 2023 includes revenue of €269 million recognized in profit or loss during 2023 previously included in “Customer contract liabilities” as of December 31, 2022, compared with revenue of €85 million recognized in profit or loss during 2022 previously included in “Customer contract liabilities” as of December 31, 2021 . No such revenue was recognized in 2021. (b) “Other current liabilities” mainly comprises provisions and liabilities for customer rebates and returns; provisions for discounts and rebates granted to healthcare authorities and governmental programs (see Note D.23.); and the liability payable at each reporting date under the Monoclonal Antibody Alliance with Regeneron. (c) As of December 31, 2023 includes €131 million (nominal value: €137 million) for the current liability relating to royalties payable to Sobi on net sales of BEYFORTUS (nirsevimab) in the United States (see Note C.2.)

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