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Off balance sheet commitments (Tables)
12 Months Ended
Dec. 31, 2023
Other Provisions, Contingent Liabilities And Contingent Assets [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, 2023Payments due by period
(€ million)TotalLess than
1 year
1 to
3 years
3 to
5 years
More than
5 years
Leases with a term of less than 12 months, low value asset leases and lease contracts committed but not yet commenced(a)
221 24 26 25 146 
Irrevocable purchase commitments(b)
given(c)
6,141 2,446 2,090 778 827 
received
(550)(443)(96)(11)— 
Research and development license agreements - commitments given
commitments related to R&D and other commitments(d)
381 256 101 15 
contingent milestone payments in connection with development programs in progress(e)
4,886 280 1,757 818 2,031 
Total - net commitments given
11,079 2,563 3,878 1,625 3,013 
(a)    Includes the variable portion of future lease payments not recognized as lease liabilities as of December 31, 2023; the equivalent amount of these commitments as of December 31, 2022 was €38 million.
During 2023, Sanofi signed a 15-year lease which will take effect in 2025 and for which Sanofi is committed for a minimum period of 12 years, corresponding to a minimum commitment of $0.2 billion. The lease includes two extension options of five years each.
(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, 2022, irrevocable commitments amounted to €6,194 million given and €574 million received.
(c)    Irrevocable purchase commitments given as of December 31, 2023 include €926 million of commitments to joint ventures, and the commitment to EUROAPI as described in Note D.2. and amounting to €804 million as of December 31, 2023.
(d)    Commitments related to R&D, and other commitments, amounted to €259 million as of December 31, 2022.
(e)    This line includes only contingent milestone payments on development projects in progress. The equivalent amount as of December 31, 2022 was €2,919 million.
Summary of Undrawn Credit Facilities
Undrawn credit facilities are as follows:
December 31, 2023TotalExpiry
(€ million)Less than
1 year
1 to
3 years
3 to
5 years
More than
5 years
General-purpose credit facilities8,000 — — 4,000 4,000 
Summary of Amount of Guarantees Given and Received
The table below shows the amount of guarantees given and received:
(€ million)202320222021
Guarantees given:3,936 3,815 3,794 
Guarantees provided to banks in connection with credit facilities
1,067 1,007 1,042 
Other guarantees given
2,869 2,808 2,752 
Guarantees received(1,272)(1,229)(1,149)