The table below provides an analysis of financial instruments recorded at fair value on the balance sheet by level of the fair value hierarchy.
|
€ millions 31 December 2023 |
Level 1 | Level 2 | Level 3 | Total fair value |
|---|---|---|---|---|
| Assets at fair value | Assets at fair valueLevel 1
|
Assets at fair valueLevel 2
|
Assets at fair valueLevel 3
|
Assets at fair valueTotal fair value
|
|
Foreign exchange derivatives |
Foreign exchange derivatives Level 1— |
Foreign exchange derivatives Level 2177.7 |
Foreign exchange derivatives Level 3— |
Foreign exchange derivatives Total fair value177.7 |
|
Sanofi shares |
Sanofi shares Level 110,612.1 |
Sanofi shares Level 2— |
Sanofi shares Level 3— |
Sanofi shares Total fair value10,612.1 |
|
Other securities |
Other securities Level 160.8 |
Other securities Level 2— |
Other securities Level 3457.3 |
Other securities Total fair value518.1 |
|
Marketable securities |
Marketable securities Level 1624.1 |
Marketable securities Level 2— |
Marketable securities Level 3— |
Marketable securities Total fair value624.1 |
|
TOTAL ASSETS AT FAIR VALUE |
TOTAL ASSETS AT FAIR VALUE Level 111,297.0 |
TOTAL ASSETS AT FAIR VALUE Level 2177.7 |
TOTAL ASSETS AT FAIR VALUE Level 3457.3 |
TOTAL ASSETS AT FAIR VALUE Total fair value11,932.0 |
|
Liabilities at fair value |
Liabilities at fair value Level 1
|
Liabilities at fair value Level 2
|
Liabilities at fair value Level 3
|
Liabilities at fair value Total fair value
|
|
Foreign exchange derivatives |
Foreign exchange derivatives Level 1— |
Foreign exchange derivatives Level 2127.1 |
Foreign exchange derivatives Level 3— |
Foreign exchange derivatives Total fair value127.1 |
|
TOTAL LIABILITIES AT FAIR VALUE |
TOTAL LIABILITIES AT FAIR VALUE Level 1— |
TOTAL LIABILITIES AT FAIR VALUE Level 2127.1 |
TOTAL LIABILITIES AT FAIR VALUE Level 3— |
TOTAL LIABILITIES AT FAIR VALUE Total fair value127.1 |
|
€ millions 31 December 2022 |
Level 1 | Level 2 | Level 3 | Total fair value |
|---|---|---|---|---|
|
Assets at fair value |
Assets at fair value Level 1
|
Assets at fair value Level 2
|
Assets at fair value Level 3
|
Assets at fair value Total fair value
|
|
Foreign exchange derivatives |
Foreign exchange derivatives Level 1
|
Foreign exchange derivatives Level 2260.9 |
Foreign exchange derivatives Level 3
|
Foreign exchange derivatives Total fair value260.9 |
|
Sanofi shares |
Sanofi shares Level 110,621.5 |
Sanofi shares Level 2
|
Sanofi shares Level 3
|
Sanofi shares Total fair value10,621.5 |
|
Other securities |
Other securities Level 199.7 |
Other securities Level 2
|
Other securities Level 3391.6 |
Other securities Total fair value491.3 |
|
Marketable securities |
Marketable securities Level 1718.5 |
Marketable securities Level 2
|
Marketable securities Level 3
|
Marketable securities Total fair value718.5 |
|
TOTAL ASSETS AT FAIR VALUE |
TOTAL ASSETS AT FAIR VALUE Level 111,439.7 |
TOTAL ASSETS AT FAIR VALUE Level 2260.9 |
TOTAL ASSETS AT FAIR VALUE Level 3391.6 |
TOTAL ASSETS AT FAIR VALUE Total fair value12,092.2 |
|
Liabilities at fair value |
Liabilities at fair value Level 1
|
Liabilities at fair value Level 2
|
Liabilities at fair value Level 3
|
Liabilities at fair value Total fair value
|
|
Foreign exchange derivatives |
Foreign exchange derivatives Level 1
|
Foreign exchange derivatives Level 2170.6 |
Foreign exchange derivatives Level 3
|
Foreign exchange derivatives Total fair value170.6 |
|
TOTAL LIABILITIES AT FAIR VALUE |
TOTAL LIABILITIES AT FAIR VALUE Level 1— |
TOTAL LIABILITIES AT FAIR VALUE Level 2170.6 |
TOTAL LIABILITIES AT FAIR VALUE Level 3— |
TOTAL LIABILITIES AT FAIR VALUE Total fair value170.6 |
|
€ millions 31 December 2022 |
Level 1 | Level 2 | Level 3 | Total fair value |
|---|---|---|---|---|
|
Assets at fair value |
Assets at fair value Level 1
|
Assets at fair value Level 2
|
Assets at fair value Level 3
|
Assets at fair value Total fair value
|
|
Foreign exchange derivatives |
Foreign exchange derivatives Level 1
|
Foreign exchange derivatives Level 267.6 |
Foreign exchange derivatives Level 3
|
Foreign exchange derivatives Total fair value67.6 |
|
Sanofi shares |
Sanofi shares Level 110,472.6 |
Sanofi shares Level 2— |
Sanofi shares Level 3
|
Sanofi shares Total fair value10,472.6 |
|
Other securities |
Other securities Level 134.5 |
Other securities Level 2— |
Other securities Level 3276.9 |
Other securities Total fair value311.4 |
|
Marketable securities |
Marketable securities Level 1— |
Marketable securities Level 2— |
Marketable securities Level 3
|
Marketable securities Total fair value— |
|
TOTAL ASSETS AT FAIR VALUE |
TOTAL ASSETS AT FAIR VALUE Level 110,507.1 |
TOTAL ASSETS AT FAIR VALUE Level 267.6 |
TOTAL ASSETS AT FAIR VALUE Level 3276.9 |
TOTAL ASSETS AT FAIR VALUE Total fair value10,851.6 |
|
Liabilities at fair value |
Liabilities at fair value Level 1
|
Liabilities at fair value Level 2
|
Liabilities at fair value Level 3
|
Liabilities at fair value Total fair value
|
|
Foreign exchange derivatives |
Foreign exchange derivatives Level 1
|
Foreign exchange derivatives Level 2240.4 |
Foreign exchange derivatives Level 3
|
Foreign exchange derivatives Total fair value240.4 |
|
TOTAL LIABILITIES AT FAIR VALUE |
TOTAL LIABILITIES AT FAIR VALUE Level 1— |
TOTAL LIABILITIES AT FAIR VALUE Level 2240.4 |
TOTAL LIABILITIES AT FAIR VALUE Level 3— |
TOTAL LIABILITIES AT FAIR VALUE Total fair value240.4 |
Financial assets and liabilities resulting from foreign exchange and/or interest rate hedging transactions entered into with the Group’s counterparty banks are not offset in the balance sheet since they are FBF (French Banking Federation) or ISDA (International Swaps and Derivatives Association) agreements that only provide for offsetting in the event of default by one of the parties to the agreement. Accordingly, they do not meet the offsetting criteria set out in IAS 32.
Had the agreements been offset at the level of each counterparty bank, assets and liabilities would have decreased by €105.5 million, €156.7 million and €62.7 million respectively in 2023, 2022 and 2021.
