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Inventories, net (Tables)
 12 Months Ended
Dec. 31, 2025
Inventory Disclosure [Abstract]  
Inventories Inventories consist of the following:
Year ended December 31 (€, in millions)
2024
2025
Raw materials
4,911.2
5,298.5
Work-in-process
4,872.3
4,768.5
Finished products
2,019.5
2,135.1
Inventories, gross
11,803.0
12,202.1
Inventory reserves
(911.5)
(772.8)
Inventories, net
10,891.5
11,429.3
Allowance for obsolescence and/or lower market value A summary of movements in the inventory reserves is as follows:
Year ended December 31 (€, in millions)
2024
2025
Balance at beginning of year
(693.2)
(911.5)
Additions for the year
(554.7)
(469.4)
Effect of changes in exchange rates
(1.7)
6.1
Utilization of the reserve
338.1
602.0
Balance at end of year
(911.5)
(772.8)