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PROPERTY, PLANT AND EQUIPMENT | 6 Months Ended
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Jun. 30, 2024
Property, plant and equipment [abstract] |
PROPERTY, PLANT AND EQUIPMENT | NOTE 12 - PROPERTY, PLANT AND EQUIPMENT
(in millions of Euros) |  |  |  | Land and Property Rights |  | Buildings |  | Machinery and Equipment |  | Construction Work in Progress |  | Other |  | Total
Net balance at January 1, 2024 |  |  |  | 25 |  | 379 |  | 1,381 |  | 251 |  | 11 |  | 2,047
Additions |  |  |  | 1 |  | 3 |  | 36 |  | 114 |  | 2 |  | 156
Disposals |  |  |  | — |  | — |  | (2) |  | — |  | — |  | (2)
Depreciation expense |  |  |  | (1) |  | (17) |  | (119) |  | — |  | (4) |  | (141)
Transfer and other changes |  |  |  | 1 |  | 4 |  | 38 |  | (46) |  | 2 |  | (1)
Effect of changes in foreign exchange rates |  |  |  | — |  | 3 |  | 20 |  | 2 |  | — |  | 25
Net balance at June 30, 2024 |  |  |  | 26 |  | 372 |  | 1,354 |  | 321 |  | 11 |  | 2,084
Cost |  |  |  | 47 |  | 672 |  | 3,198 |  | 333 |  | 55 |  | 4,305
Less accumulated depreciation and impairment |  |  |  | (21) |  | (300) |  | (1,844) |  | (12) |  | (44) |  | (2,221)
Net balance at June 30, 2024 |  |  |  | 26 |  | 372 |  | 1,354 |  | 321 |  | 11 |  | 2,084
Right-of-use assets Right-of-use assets have been included in the same line item as that in which a corresponding owned asset would be presented.
(in millions of Euros) |  | Buildings |  | Machinery and Equipment |  | Other |  | Total
Net balance at January 1, 2024 |  | 103 |  | 38 |  | — |  | 141
Additions |  | 3 |  | 8 |  | — |  | 11
Depreciation expense |  | (6) |  | (6) |  | — |  | (12)
Net balance at June 30, 2024 |  | 100 |  | 40 |  | — |  | 140
Cost |  | 172 |  | 107 |  | — |  | 279
Less accumulated depreciation and impairment |  | (72) |  | (67) |  | — |  | (139)
Net balance at June 30, 2024 |  | 100 |  | 40 |  | — |  | 140
The total expense relating to short-term leases, low value asset leases and variable lease payments that are still recognized as operating expens es was €9 million and €8 million for the six months ended June 30, 2024 and 2023, respectively.

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- Definition The entire disclosure for property, plant and equipment. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 16 -IssueDate 2023-01-01 -Section Disclosure -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=16&code=ifrs-tx-2023-en-r&doctype=Standard&dita_xref=IAS16_g73-79_TI -URIDate 2023-03-23 + Details
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Namespace Prefix: | ifrs-full_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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- References No definition available. + Details
Name: | ifrs-full_PropertyPlantAndEquipmentAbstract
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration