Company: SNY
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0001121404-25-000010
Chunk: 135

Company: Sanofi
Filing Date: 2025-02-13
Form: 20-F
Chunk 135
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2018, and certain o ther transactions) . See “— A.1.11. Critical accounting and reporting policies — 2/ Business combinations” below for an explanation of the impact of business combinations on our results of operations. The Genzyme business combination has generated significant amortization of intangible assets (€152 million in 2024 , €405 million in 2023 and €513 million in 2022). The exchange of Merial for Boehringer Ingelheim’s CHC business has generated amortization of intangible assets (€179 million in 2024 , €184 million in 2023 and €188 million in 2022). The Bioverativ business combination has generated significant amortization of intangible assets (€630 million in 2024 , €633 million in 2023 and €375 million in 2022). The Kadmon acquisition has generated amortization of intangible assets (€164 million in 2024 , €156 million in 2023 and €160 million in 2022). The Provention Bio, Inc. acquisition has generated amortization of intangible assets (€214 million in 2024 and €144 million in 2023). In order to isolate the purchase accounting effects of all acquisitions and certain other items, we use a non-IFRS financial measure that we refer to as “business net income” (see definition and discussion of reconciliation to the IFRS financial measure Operating income in “— A.1.5. Segment Information and Business Net Income —Business Net Income” below). A.1.4. Sources of revenues and expenses Revenues. Revenue arising from the sale of goods is presented in the income statement within Net sales . Net sales comprise revenue from sales of medicines, vaccines and active ingredients (1) , net of sales returns, of customer incentives and discounts, and of certain sales-based payments paid or payable to the healthcare authorities. Returns, discounts, incentives and rebates are recognized in the period in which the underlying sales are recognized, as a reduction of sales revenue. See Note B.13.1. to our consolidated financial statements included at Item 18. of this annual report. We sell biopharma products directly, through alliances, and by licensing arrangements throughout the world. When we sell products directly, we record sales revenues as part of our consolidated net sales. When we sell products through alliances, the revenues reflected in our consolidated financial statements are based on the contractual arrangements governing those alliances. For more information about our alliances