Company: SNY
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0001121404-25-000010
Chunk: 389

Company: Sanofi
Filing Date: 2025-02-13
Form: 20-F
Chunk 389
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 impairment losses were recognized against goodwill in the years ended December 31, 2024 , 2023 or 2022 . Other intangible assets When there is evidence that an asset may have become impaired, the asset’s value in use is calculated by applying an after-tax discount rate to the estimated future after-tax cash flows from that asset. For the purposes of impairment testing, the tax cash flows relating to the asset are determined using a notional tax rate incorporating the notional tax benefit that would result from amortizing the asset if its value in use were regarded as its depreciable amount for tax purposes. Applying after-tax discount rates to after-tax cash flows gives the same values in use as would be obtained by applying pre-tax discount rates to pre-tax cash flows. The after-tax discount rates used in 2024 for impairment testing of other intangible assets were obtained by adjusting Sanofi’s weighted average cost of capital to reflect specific country and business risks, giving after-tax discount rates in a range from 7.25% to 8.25% . In most instances, there are no market data that would enable fair value less costs to sell to be determined other than by means of developing a similar estimate based on future cash flows. Consequently, recoverable amount is in substance equal to value in use. The estimates used to determine value in use are sensitive to assumptions specific to the nature of the asset and to Sanofi's activities. Apart from the discount rate, the principal assumptions used in 2024 were as follows: • mid-term and long-term forecasts; • perpetual growth or attrition rates, when applicable; and • probability of success of current research and development projects.

| F-44 | SANOFIFORM 20-F2024 |

| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |

The assumptions used in testing intangible assets for impairment are reviewed at least annually.

In 2024 , 2023 and 2022 , impairment testing of other intangible assets (excluding software) resulted in the recognition of net

impairment losses as shown below (the table presents all net impairments of the Group including Opella, over all periods):

| (€ million)                                                                  | 2024 | 2023 |   2022 |
| Impairment of other intangible assets, net of reversals (excluding software) |  265 |  932 |   -454 |
| Marketed products                                                            | -167 |    — | -1,561 |
| Biopharma(a