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CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (unaudited) - USD ($)
$ in Millions
Total
Share capital
Other reserves
Fair value adjustments on equity securities
Actuarial gains/(losses) from defined benefit plans
Cumulative currency translation effects
Total value adjustments
 [1]
Beginning balance at Dec. 31, 2019 $ 19,303 $ 20 $ 19,355 $ (25) $ (72) $ 25 $ (72)
Net income/(loss) (479)   (479)        
Other comprehensive income/(loss) (72)     (7) (23) (42) (72)
Total comprehensive income/(loss) (551)   (479) (7) (23) (42) (72)
Equity-based compensation 42   42        
Other movements [2] (21)   2   (23)   (23)
Total other movements 21   44   (23)   (23)
Ending balance at Jun. 30, 2020 18,773 20 18,920 (32) (118) (17) (167)
Beginning balance at Dec. 31, 2020 18,822 20 18,899 (32) (109) 44 (97)
Net income/(loss) 235   235        
Other comprehensive income/(loss) (3)       15 (18) (3)
Total comprehensive income/(loss) 232   235   15 (18) (3)
Dividends (53)   (53)        
Equity-based compensation 47   47        
Other movements [2] 16   4   12   12
Total other movements 10   (2)   12   12
Ending balance at Jun. 30, 2021 $ 19,064 $ 20 $ 19,132 $ (32) $ (82) $ 26 $ (88)
[1] "Total value adjustments" are presented net of the corresponding tax effects.
[2] Activity includes hyperinflationary accounting. The current year includes an adjustment to actuarial gains to recognize plan assets related to the separation of a pension plan in the spin-off from Novartis but which were not previously recorded. The prior year includes an adjustment to actuarial (losses) for other post-employment benefit obligation assumption changes directly related to the spin-off on April 9, 2019 but which was not recorded at that time.