D.13. Cash and cash equivalents
| (€ million) | 2017 | 2016 | 2015 | |||||||||
| Cash | 472 | 1,077 | 1,361 | |||||||||
| Cash equivalents(a) | 9,843 | 9,196 | 7,787 | |||||||||
| Cash and cash equivalents(b) | 10,315 | 10,273 | 9,148 | |||||||||
| (a) |
As of December 31, 2017, cash equivalents mainly comprised (i) €7,207 million invested in euro and US dollar denominated money-market mutual funds (December 31, 2016: €6,210 million; December 31, 2015: €5,042 million); (ii) €1,346 million of term deposits (December 31, 2016: €1,469 million; December 31, 2015: €1,594 million); (iii) €505 million in commercial paper (December 31, 2016: €617 million; December 31, 2015: €461 million); and (iv) €556 million held by captive insurance and reinsurance companies in accordance with insurance regulations (December 31, 2016: €553 million; December 31, 2015: €385 million). |
| (b) |
Includes immaterial amounts held by Sanofi’s Venezuelan subsidiaries as of December 31, 2017 and December 31, 2016 (versus €90 million as of December 31, 2015); see Note A.4. |