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Details to the consolidated statements of cash flows | 12 Months Ended
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Dec. 31, 2020
Disclosure of details to the consolidated statements of cash flows [abstract] |
Details to the consolidated statements of cash flows | 23. Details to the consolidated statements of cash flows 23.1) Reversal of non-cash items and other adjustments from continuing operations
(USD millions) |  | 2020 |  | 2019 |  | 2018 |
Depreciation, amortization and impairments on: |  |  |  |  |  |  |
Property, plant and equipment |  | 1 758 |  | 1 547 |  | 1 783 |
Right-of-use assets 1 |  | 330 |  | 305 |  |  |
Intangible assets |  | 4 376 |  | 3 974 |  | 3 428 |
Financial assets 2 |  | – 335 |  | – 38 |  | 6 |
Change in provisions and other non-current liabilities |  | 1 411 |  | 1 871 |  | 895 |
Gains on disposal and other adjustments on property, plant and equipment; intangible assets; financial assets; and other non-current assets, net |  | – 478 |  | – 1 234 |  | – 902 |
Equity-settled compensation expense |  | 738 |  | 758 |  | 673 |
Income from associated companies 3 |  | – 673 |  | – 659 |  | – 6 438 |
Taxes |  | 1 807 |  | 1 793 |  | 1 295 |
Net financial expense |  | 947 |  | 805 |  | 746 |
Total |  | 9 881 |  | 9 122 |  | 1 486 |
1 Depreciation of right-of-use assets recognized from January 1, 2019, the date of implementation of IFRS 16 Leases. See Note 1.
2 Includes fair value adjustments
3 2018 included a reversal of a pre-tax gain (USD 5.8 billion) recognized from the divestment of the investment in GSK Consumer Healthcare Holdings Ltd. (see Note 2). The net cash proceed of USD 13.0 billion from the divestment was included in the consolidated statements of cash flows in the line "Acquisitions and divestments of interests in associated companies, net."
23.2) Total amount of taxes paid In 2020, the total amount of taxes paid was USD 1.9 billion, of which USD 1.8 billion was included within “Net cash flows from operating activities from continuing operations”, and USD 88 million was included within “Net cash flows used in investing activities from discontinued operations.” In 2019, the total amount of taxes paid was USD 2.0 billion, of which USD 1.9 billion was included within “Net cash flows from operating activities from continuing operations”, USD 38 million was included within “Net cash flows from operating activities from discontinued operations,” and USD 79 million was included within “Net cash flows used in investing activities from discontinued operations.” In 2018, the total amount of taxes paid was USD 1.8 billion, of which USD 1.5 billion was included within “Net cash flows from operating activities from continuing operations”, USD 164 million was included within “Net cash flows from operating activities from discontinued operations,” and USD 139 million was included within “Net cash flows used in investing activities from continuing operations.” 23.3) Cash flows from changes in working capital and other operating items included in the net cash flows from operating activities from continuing operations
(USD millions) |  | 2020 |  | 2019 |  | 2018 |
(Increase) in inventories |  | – 543 |  | – 382 |  | – 387 |
Decrease/(increase) in trade receivables |  | 137 |  | – 980 |  | – 544 |
(Decrease)/increase in trade payables |  | – 324 |  | 553 |  | 252 |
Change in other current assets |  | 229 |  | – 160 |  | 316 |
Change in other current liabilities |  | 211 |  | 1 167 |  | 941 |
Other adjustments, net |  | – 1 |  | 1 |  | – 2 |
Total |  | – 291 |  | 199 |  | 576 |
23.4) Cash flows arising from acquisitions and divestments of interests in associated companies, net In 2018, acquisitions and divestments of interests in associated companies included USD 12 855 million net of taxes (USD 12 994 million before taxes) from the divestment of the investment in GSK Consumer Healthcare Holdings Ltd. (see Note 2). 23.5) Cash flows arising from acquisitions and divestments of businesses, net The following table is a summary of the cash flow impact of acquisitions and divestments of businesses. The most significant transactions are described in Note 2.
(USD millions) |  | Note |  | 2020 |  | 2019 |  | 2018 |
Net assets recognized as a result of acquisitions of businesses |  | 24 |  | – 10 173 |  | – 4 124 |  | – 13 660 |
Fair value of previously held equity interests |  |  |  | 7 |  | 33 |  |  |
Contingent consideration payables, net |  |  |  | 98 |  | 242 |  | – 5 |
Payments, deferred consideration and other adjustments, net |  |  |  | 62 |  | – 2 |  | – 36 |
Cash flows used for acquisitions of businesses |  |  |  | – 10 006 |  | – 3 851 |  | – 13 701 |
Cash flows from divestments of businesses, net 1 |  |  |  | 49 |  | 91 |  | 18 |
Cash flows used for acquisitions and divestments of businesses, net |  |  |  | – 9 957 |  | – 3 760 |  | – 13 683 |
1 In 2020, USD 49 million represented the net cash inflows from divestments in previous years. In 2019, the USD 91 million included USD 4 million of net cash outflows from divestments in previous years, and USD 95 million net cash inflows from business divestments in 2019. The net identifiable assets of the 2019 divested businesses amounted to USD 196 million, comprised of non-current assets of USD 159 million; current assets of USD 96 million, including USD 11 million cash and cash equivalents; non-current liabilities of USD 18 million; and current liabilities of USD 41 million. In 2018, USD 18 million represented the net cash inflows from divestments in previous years.
Notes 2 and 24 provide further information regarding acquisitions and divestments of businesses. All acquisitions were for cash. 23.6) Reconciliation of liabilities arising from financing activities
(USD millions) |  | Non-current financial debts |  | Current financial debts and derivative financial instruments |  | Non-current lease liabilities |  | Current lease liabilities |
January 1, 2020 |  | 20 353 |  | 7 031 |  | 1 703 |  | 246 |
Increase in non-current financial debts |  | 7 126 |  |  |  |  |  |  |
Repayments of non-current financial debts |  |  |  | – 2 003 |  |  |  |  |
Change in current financial debts |  |  |  | 2 261 |  |  |  |  |
Payments of lease liabilities, net |  |  |  |  |  |  |  | – 312 |
Interest payments for amounts included in lease liabilities classified as cash flows from operating activities |  |  |  |  |  |  |  | – 56 |
New leases |  |  |  |  |  | 221 |  | 73 |
Impact of acquisitions of businesses |  |  |  | 32 |  | 36 |  | 8 |
Changes in fair values, and other changes, net |  | – 1 |  |  |  | – 30 |  | 65 |
Amortization of bonds discount |  | 16 |  | 5 |  |  |  |  |
Currency translation effects |  | 832 |  | 392 |  | 39 |  | 12 |
Reclassification from non-current to current, net |  | – 2 067 |  | 2 067 |  | – 250 |  | 250 |
December 31, 2020 |  | 26 259 |  | 9 785 |  | 1 719 |  | 286 |
(USD millions) |  | Non-current financial debts |  | Current financial debts and derivative financial instruments |  | Non-current lease liabilities |  | Current lease liabilities |
January 1, 2019 |  | 22 470 |  | 9 678 |  |  |  |  |
Impact of adoption of IFRS 16 Leases continuing operations 1 |  | – 2 |  | – 1 |  | 1 471 |  | 268 |
Impact of adoption of IFRS 16 Leases discontinued operations 2 |  | – 89 |  |  |  | 246 |  | 40 |
Financial debts and lease liabilities related to discontinued operations 3 |  |  |  | – 47 |  | – 246 |  | – 40 |
Increase in non-current financial debts |  | 93 |  |  |  |  |  |  |
Repayments of non-current financial debts |  |  |  | – 3 195 |  |  |  |  |
Change in current financial debts |  |  |  | – 1 582 |  |  |  |  |
Payments of lease liabilities, net |  |  |  |  |  |  |  | – 273 |
Interest payments for amounts included in lease liabilities classified as cash flows from operating activities |  |  |  |  |  |  |  | – 51 |
New leases |  |  |  |  |  | 362 |  | 131 |
Impact of acquisitions and divestments of businesses |  |  |  | 2 |  | – 11 |  | – 6 |
Changes in fair values, and other changes, net |  |  |  | 129 |  | 33 |  | 20 |
Amortization of bonds discount |  | 25 |  |  |  |  |  |  |
Currency translation effects |  | – 141 |  | 44 |  | 4 |  | 1 |
Reclassification from non-current to current, net |  | – 2 003 |  | 2 003 |  | – 156 |  | 156 |
December 31, 2019 |  | 20 353 |  | 7 031 |  | 1 703 |  | 246 |
1 Lease liabilities recognized on January 1, 2019, the date of implementation of IFRS 16 Leases. See Note 1.
2 In 2018, financial debts included USD 89 million for previously reported finance lease obligations of the Alcon business that were reclassified on January 1, 2019, to lease liabilities, with the adoption of IFRS 16 Leases. Note 30 provides additional disclosures.
3 Represents the financial debts and lease liabilities at January 1, 2019, related to the Alcon business reported as discontinued operations. See Notes 1, 2 and 30.
(USD millions) |  | Non-current financial debts |  | Current financial debts and derivative financial instruments |
January 1, 2018 |  | 23 224 |  | 5 308 |
Increase in non-current financial debts 1 |  | 2 856 |  |  |
Repayments of non-current financial debts 2 |  |  |  | – 366 |
Change in current financial debts 3 |  |  |  | 1 681 |
Impact of acquisitions of businesses |  | 10 |  | 4 |
Changes in fair values, and other changes |  | 5 |  | – 48 |
Amortization of bonds discount |  | 27 |  | 2 |
Currency translation effects |  | – 462 |  | – 93 |
Current portion of non-current financial debt |  | – 3 190 |  | 3 190 |
December 31, 2018 |  | 22 470 |  | 9 678 |
1 Increase in non-current financial debts was only recorded in the consolidated statements of cash flows from continuing operations.
2 Repayment of non-current financial debts was only recorded in the consolidated statements of cash flows from continuing operations.
3 Changes in current financial debts included in the consolidated statements of cash flows from continuing operations were USD 1 687 million.
For net cash flows used in investing activities from discontinued operations, see Note 30.

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