Company: SNY
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0001121404-25-000010
Chunk: 182

Company: Sanofi
Filing Date: 2025-02-13
Form: 20-F
Chunk 182
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 of contingent consideration assets and liabilities recognized in business combinations represented a net expense of € 93 million in 2023 , versus a net gain of € 27 million in 2022 . For 2023, this line item mainly comprises a change in the amount of contingent consideration payable to Shire as a result of a transaction carried out by Translate Bio, Inc. prior to the acquisition of that entity by Sanofi (expense of €74 million in 2023, versus €2 million in 2022). 9/ Restructuring costs and similar items Restructuring costs and similar items represented a total charge of € 1,030 million in 2023 , versus a charge of € 1,077 million in 2022 .

| SANOFIFORM 20-F2024 | 85 |

| PART I                                               |
| ITEM 5. Operating and Financial Review and Prospects |

Restructuring costs and similar items decreased by € 47 million year-on-year. For 2023 they include the impact of French pension reforms on future annuities under the rules of each severance plan, while for 2022 they mainly comprised severance costs recognized further to the announcements made during that period. Also included in restructuring costs are the impacts of ongoing transformational projects. 10/ Other gains and losses, and litigation For 2023 , this line item represented a charge of €196 million related to major litigations. For 2022 , this line item represented a charge of €143 million , comprising the pre-tax loss arising on the deconsolidation of EUROAPI (see Note D.1.3.) and costs related to major litigation. 11/ Operating income Operating income amounted to € 6,960 million in 2023 , versus € 10,162 million in 2022 . The year-on-year decrease was largely due to the movements in impairment allowances against intangible assets. 12/ Financial income and expenses Net financial expenses were € 709 million in 2023 , versus € 225 million in 2022 , a increase of € 484 million. The cost of our net debt (see the definition in “— Liquidity and Capital Resources” below and Note D.29. to our consolidated financial statements, included at Item 18. of this annual report) was € 25 million in 2023 , compared with € 123 million in 2022 ; the reduction of € 98 million was largely due to an increased return on cash, cash equivalents