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Consolidated shareholders’ equity (Tables)
 12 Months Ended
Dec. 31, 2023
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, 202313.45 1.063 %
December 31, 20228.20 0.650 %
December 31, 202111.02 0.872 %
January 1, 20218.28 0.658 %
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, 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, 2021
Capital 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, 2022
Capital increase reserved for employees2,027,057 
Board meeting of December 14, 2022
Reduction in share capital by cancellation of
treasury shares
(6,742,380)
December 31, 20221,260,835,732 
During 2023
Capital increase by exercise of stock subscription options(a)
504,956 
During 2023
Capital increase by issuance of restricted shares(b)
1,330,558 
Board meeting of July 27, 2023
Capital increase reserved for employees2,128,723 
December 31, 20231,264,799,969 
(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:
202320222021
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 25, 2023December 13, 2023May 3, 2022December 14, 2022April 30, 2021October 27, 2021
Service period3 years3 years3 years3 years3 years3 years
Total number of shares awarded 3,838,434 65,129 3,344,432 109,981 3,484,420 13,521 
Of which with no market condition2,425,047 944 2,000,627 10,335 2,209,901 — 
Fair value per share awarded(a)
€87.69 €77.42 €91.19 €79.17 €77.27 — 
Of which with market condition1,413,387 64,185 1,343,805 99,646 1,274,519 13,521 
Fair value per share awarded other than to the Chief Executive Officer(b)
€83.74 €74.50 €86.65 €69.60 €71.30 €68.45 
Fair value per share awarded other than to the Chief Executive Officer - additional shares(c)
€43.60 €34.90 €49.00 €54.70 — — 
Fair value per share awarded to the Chief Executive Officer(b)
€82.17 — €84.46 — €71.30 — 
Fair value of plan at the date of grant (€ million)
326 5 294 8 262 1 
(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: 121,097 additional shares were awarded in May 2023, and 5,838 additional shares were awarded in December 2023 (versus 114,874 additional shares awarded in May 2022, and 9,066 additional shares 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:
2023 (a)2022 (a)2021
Total expense for restricted share plans (€ million)
231 206 193 
Number of shares not yet fully vested as of December 31
9,773,084 9,245,513 9,507,849 
Under 2023 plans
3,780,513 — — 
Under 2022 plans
3,099,158 3,330,801 — 
Under 2021 plans
2,893,413 3,097,531 3,364,895 
Under 2020 plans
— 2,817,181 3,014,496 
Under 2019 plans
— — 3,128,458 
(a)    Additional tranche subject to a higher level of market conditions: 126,935 additional shares were awarded in 2023, versus 123,940 additional shares awarded in  2022.
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 2023, 2022 and 2021 are summarized in the table below:
202320222021
Date of Board meeting approving the planFebruary 2, 2023February 3, 2022February 4, 2021
Subscription price (€)(a)
79.58 80.21 69.38 
Subscription period
June 5-23, 2023
June 9-29, 2022June 7-25, 2021
Number of shares subscribed2,009,306 1,909,008 2,438,590 
Number of shares issued immediately as employer’s contribution119,417 118,049 124,112 
(a)    Subscription price representing 80% of the average of the opening quoted market prices of Sanofi shares during the 20 trading days preceding May 31, 2023, June 6, 2022 and June 3, 2021, respectively.
Summary of Expenses
The table below sets forth the expense recognized for each plan:
(€ million)202320222020
Expense recognized52 39 51 
of which employer’s contribution12 11 11 
Summary of Repurchases program The following repurchases have been made under those programs:
(in number of shares and € million)

Year of authorization
202320222021
Number
of shares		ValueNumber
of shares		ValueNumber
of shares		Value
2023 program2,584,540 230 — — — — 
2022 program4,000,204 363 1,510,000 137 — — 
2021 program— — 3,976,992 360 2,765,388 242 
2020 program— — — — 1,758,569 140 
Summary of Currency Translation Differences
Currency translation differences comprise the following:
(€ million)
202320222021
Attributable to equity holders of Sanofi(31)1,499 (865)
Attributable to non-controlling interests(37)(37)(42)
Total(68)1,462 (907)
Summary of Movements within Other Comprehensive Income
Movements within other comprehensive income are shown below:
(€ million)202320222021
Actuarial gains/(losses):
•Actuarial gains/(losses) excluding investments accounted for using the equity method (see Note D.19.1.)
(171)650 685 
•Actuarial gains/(losses) of investments accounted for using the equity method, net of taxes
— 4 1 
•Tax effects
18 (212)(36)
Equity instruments included in financial assets and financial liabilities:
— — — 
•Change in fair value (excluding investments accounted for using the equity method)
97 (4)154 
•Change in fair value (investments accounted for using the equity method, net of taxes)
— — — 
•Equity risk hedging instruments designated as fair value hedges
— 17 11 
•Tax effects
(21)(4)(18)
Items not subsequently reclassifiable to profit or loss(77)451 797 
Debt instruments included in financial assets:
•Change in fair value (excluding investments accounted for using the equity method)(a)
21 (77)(21)
•Tax effects
(4)15 5 
Cash flow and fair value hedges:
•Change in fair value (excluding investments accounted for using the equity method)(b)
1 5 (6)
•Change in fair value (investments accounted for using the equity method, net of taxes)
(2)2 — 
▪Tax effects
— (1)2 
Change in currency translation differences:
•Currency translation differences on foreign subsidiaries (excluding investments accounted for using the equity method)(c)
(1,551)2,643 2,719 
•Currency translation differences (investments accounted for using the equity method)(c)
3 (11)(6)
•Hedges of net investments in foreign operations(c)
8 (354)(254)
•Tax effects
(2)91 71 
Items subsequently reclassifiable to profit or loss(1,526)2,313 2,510 
(a)    Amounts reclassified to profit or loss: immaterial amount in 2023, immaterial amount in 2022 and €4 million in 2021.
(b)    Amounts reclassified to profit or loss: €1 million in 2023, €2 million in 2022 and €12 million in 2021.
(c)    Amounts reclassified to profit or loss: €(56) million in 2023, and €(40) million in 2022 (including €(35) million relating to the deconsolidation of EUROAPI). The amounts reclassified to profit and loss were immaterial in 2021. 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.
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, 2023:
SourceDate of grantNumber of
options
granted		Start date of
exercise
period		Expiry date
Exercise
price (€)
Number of options outstanding as of 12/31/2023
Sanofi03/05/2013788,725 03/06/201703/05/202372.19 — 
Sanofi03/05/20141,009,250 03/06/201803/05/202473.48 91,355 
Sanofi06/24/2015435,000 06/25/201906/24/202589.38 337,714 
Sanofi05/04/2016402,750 05/05/202005/04/202675.90 264,750 
Sanofi05/10/2017378,040 05/11/202105/10/202788.97 257,010 
Sanofi05/02/2018220,000 05/03/202205/02/202865.84 168,784 
Sanofi04/30/2019220,000 05/02/202304/30/202976.71 213,400 
Total1,333,013 
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, 20212,579,270 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 
Options exercised(504,956)73.65 (37)
Options outstanding at December 31, 20231,333,013 80.53 107 
Options exercisable1,333,013 80.53 107 
(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, 2023:
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 4.3465.84 168,784 65.84 
From €70.00 to €80.00 per share
569,505 3.1275.82 569,505 75.82 
From €80.00 to €90.00 per share
594,724 2.2989.20 594,724 89.20 
Total1,333,013 1,333,013 
Summary of Number of Shares Used to Compute Diluted Earnings Per Share
(million)202320222021
Average number of shares outstanding1,251.7 1,251.9 1,252.5 
Adjustment for stock options with dilutive effect0.2 0.3 0.3 
Adjustment for restricted shares4.5 4.7 5.1 
Average number of shares used to compute diluted earnings per share1,256.4 1,256.9 1,257.9