Company: SNY
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0001121404-25-000010
Chunk: 193

Company: Sanofi
Filing Date: 2025-02-13
Form: 20-F
Chunk 193
---
 tax assets amounted to € 5,801 million as of December 31, 2024 , versus € 4,570 million as of December 31, 2023 a year-on-year increase of € 1,231 million. The year-on-year increase mainly reflects (i) reversals of deferred tax liabilities relating to remeasurements of other acquired intangible assets further to the amortization charged in the period; (ii) an increase in deferred tax assets on consolidation adjustments (eliminiation of intragroup margin in inventory); and (iii) an increase in deferred tax assets arising on the spread tax deduction of R&D expenses in the United States. Non-current provisions and other non-current liabilities (€ 8,096 million) showed an increase of € 494 million, mainly due a provision recognized in respect of the litigation related to Plavix (clopidogrel) in the US state of Hawaii (see Note D.22.) and an increase in restructuring provisions. Liabilities related to business combinations and to non-controlling interests were € 68 million lower year-on-year, at € 641 million. Assets held for sale (€ 13,489 million) and liabilities related to assets held for sale (€ 2,131 million) mainly comprise the assets and liabilities of the held for sale Opella business (see Note D.8. to our consolidated financial statements included at Item 18. of this annual report). B.3. Liquidity We expect that our existing cash resources and cash from operations will be sufficient to finance our foreseeable working capital requirements, in both the short term (i.e. the 12 months following the year ended December 31, 2024 ) and the long term (i.e. beyond such additional 12-month period). As of December 31, 2024 , we held cash and cash equivalents amounting to € 7,441 million, substantially all of which were held in euros (see Note D.13. to our consolidated financial statements, included at Item 18. of this annual report). As of December 31, 2024 , €446 million of our cash and cash equivalents were held by captive insurance and reinsurance companies in accordance with insurance regulations. We run the risk of delayed payments or even non-payment by our customers, who consist principally of wholesalers, distributors, pharmacies, hospitals, clinics and government agencies (see “Item 3. Key information — D. Risk Factors — 2. Risks Relating to Our Business