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RESEARCH AND DEVELOPMENT COSTS
 12 Months Ended
Dec. 31, 2023
Analysis of income and expense [abstract]  
RESEARCH AND DEVELOPMENT COSTS
7. RESEARCH AND DEVELOPMENT COSTS

    Research and development costs are as follows:
For the years ended December 31,
202320222021
(€ thousand)
Research and development costs expensed during the year
538,903 517,842 573,632 
Amortization of capitalized development costs
342,656 257,730 194,472 
Total research and development costs
881,559 775,572 768,104 
    
Research and development costs expensed during the period primarily relate to research and development activities for Formula 1 racing as well as development activities to support the innovation of our product portfolio and components, in particular, in relation to electric and other new technologies. Amortization of capitalized development costs have increased in recent years as a result of our strategy to update and broaden our product range and significantly increase our efforts relating to innovation and advanced technologies, including hybrid and electric.

Research and development costs for the year ended December 31, 2022 and, to a lesser extent, for the year December 31, 2023 are recognized net of technology-related government incentives.