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Derivative financial instruments and hedge accounting (Tables) | 12 Months Ended
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Dec. 31, 2023
Derivative financial instruments and hedge accounting |
Schedule of derivative financial instruments |
| December 31, 2023 |  |  | December 31, 2022 |
(€ million) | Fair value asset |  |  | Fair value liability |  |  | Level of Fair value |  |  | Fair value asset |  |  | Fair value liability |  |  | Level of Fair value |
Non-hedging derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives on exchange rate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Currency swap | 70 |  |  | 168 |  |  | 2 |  |  | 110 |  |  | 132 |  |  | 2 |
- Interest currency swap |  |  |  | 84 |  |  | 2 |  |  | 1 |  |  | 144 |  |  | 2 |
- Outright |  |  |  |  |  |  |  |  |  | 3 |  |  | 12 |  |  | 2 |
| 70 |  |  | 252 |  |  |  |  |  | 114 |  |  | 288 |  |  |  |
Derivatives on interest rate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Interest rate swap | 62 |  |  | 34 |  |  | 2 |  |  | 137 |  |  | 58 |  |  | 2 |
| 62 |  |  | 34 |  |  |  |  |  | 137 |  |  | 58 |  |  |  |
Derivatives on commodities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Over the counter | 2,902 |  |  | 2,103 |  |  | 2 |  |  | 9,571 |  |  | 8,663 |  |  | 2 |
- Future | 3,027 |  |  | 2,905 |  |  | 1 |  |  | 6,886 |  |  | 5,764 |  |  | 1 |
- Options | 106 |  |  | 114 |  |  | 2 |  |  |  |  |  | 2 |  |  | 1 |
- Other | 11 |  |  |  |  |  | 2 |  |  |  |  |  | 80 |  |  | 2 |
| 6,046 |  |  | 5,122 |  |  |  |  |  | 16,457 |  |  | 14,509 |  |  |  |
| 6,178 |  |  | 5,408 |  |  |  |  |  | 16,708 |  |  | 14,855 |  |  |  |
Cash flow hedge derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives on commodities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Over the counter | 80 |  |  | 13 |  |  | 2 |  |  |  |  |  |  |  |  |  |
- Future |  |  |  |  |  |  |  |  |  | 339 |  |  | 192 |  |  | 1 |
| 80 |  |  | 13 |  |  |  |  |  | 339 |  |  | 192 |  |  |  |
Derivatives on interest rate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Interest rate swap | 6 |  |  |  |  |  | 1 |  |  | 21 |  |  |  |  |  | 2 |
| 6 |  |  |  |  |  |  |  |  | 21 |  |  |  |  |  |  |
| 86 |  |  | 13 |  |  |  |  |  | 360 |  |  | 192 |  |  |  |
Options |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Other options |  |  |  | 41 |  |  | 2 |  |  |  |  |  | 144 |  |  | 3 |
|  |  |  | 41 |  |  |  |  |  |  |  |  | 144 |  |  |  |
Gross amount | 6,264 |  |  | 5,462 |  |  |  |  |  | 17,068 |  |  | 15,191 |  |  |  |
Offsetting | (2,895 | ) |  | (2,895 | ) |  |  |  |  | (5,863 | ) |  | (5,863 | ) |  |  |
Net amount | 3,369 |  |  | 2,567 |  |  |  |  |  | 11,205 |  |  | 9,328 |  |  |  |
Of which: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- current | 3,323 |  |  | 2,414 |  |  |  |  |  | 11,076 |  |  | 9,042 |  |  |  |
- non-current | 46 |  |  | 153 |  |  |  |  |  | 129 |  |  | 286 |  |  |  |
Schedule of hedging derivative instruments |
| December 31, 2023 |  |  | December 31, 2022 |
(€ million) | Nominal amount of the hedging instrument |  |  | Change in fair value (effective hedge) |  |  | Change in fair value (ineffective hedge) |  |  | Nominal amount of the hedging instrument |  |  | Change in fair value (effective hedge) |  |  | Change in fair value (ineffective hedge) |
Cash flow hedge derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives on commodity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Over the counter | 310 |  |  | 147 |  |  | 6 |  |  | 83 |  |  | (4 | ) |  |  |
- Future |  |  |  | (23 | ) |  |  |  |  | 1,350 |  |  | (3,912 | ) |  | 275 |
- Other |  |  |  |  |  |  |  |  |  |  |  |  | 9 |  |  |  |
| 310 |  |  | 124 |  |  | 6 |  |  | 1,433 |  |  | (3,907 | ) |  | 275 |
Derivatives on interest rate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Interest rate swap | 128 |  |  | (19 | ) |  |  |  |  | 127 |  |  | 24 |  |  |  |
| 128 |  |  | (19 | ) |  |  |  |  | 127 |  |  | 24 |  |  |  |
| 438 |  |  | 105 |  |  | 6 |  |  | 1,560 |  |  | (3,883 | ) |  | 275 |
Schedule of breakdown of underlying asset or liability under cash flow hedge |
| December 31, 2023 |  |  | December 31, 2022 |
(€ million) | Change of the underlying asset used for the calculation of hedging ineffectiveness |  |  | CFH reserve |  |  | Reclassification adjustments |  |  | Change of the underlying asset used for the calculation of hedging ineffectiveness |  |  | CFH reserve |  |  | Reclassification adjustments |
Cash flow hedge derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commodity price risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Planned sales | (169 | ) |  | 56 |  |  | (436 | ) |  | 4,059 |  |  | (499 | ) |  | (4,666 | )
| (169 | ) |  | 56 |  |  | (436 | ) |  | 4,059 |  |  | (499 | ) |  | (4,666 | )
Derivatives on interest rate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- hedged flows | (19 | ) |  | (6 | ) |  |  |  |  | (15 | ) |  | 16 |  |  | (11 | )
| (19 | ) |  | (6 | ) |  |  |  |  | (15 | ) |  | 16 |  |  | (11 | )
| (169 | ) |  | 50 |  |  | (436 | ) |  | 4,044 |  |  | (483 | ) |  | (4,677 | )
Schedule of effects recognized in other operating profit (loss) |
(€ million) | 2023 |  |  | 2022 |  |  | 2021 |
Net income (loss) on cash flow hedging derivatives | 6 |  |  | 275 |  |  | (51 | )
Net income (loss) on other derivatives | 472 |  |  | (2,011 | ) |  | 954 |
| 478 |  |  | (1,736 | ) |  | 903 |
Schedule of effects recognized in finance income (loss) |
(€ million) | 2023 |  |  | 2022 |  |  | 2021 |
Derivatives on exchange rate | (63 | ) |  | (70 | ) |  | (322 | )
Derivatives on interest rate | 2 |  |  | 81 |  |  | 16 |
Options |  |  |  | 2 |  |  |  |
| (61 | ) |  | 13 |  |  | (306 | )

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