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Trade receivables | 12 Months Ended
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Dec. 31, 2020
Disclosure of trade receivables [abstract] |
Trade receivables | 15. Trade receivables
(USD millions) |  | 2020 |  | 2019 |
Total gross trade receivables |  | 8 310 |  | 8 396 |
Provisions for doubtful trade receivables |  | – 93 |  | – 95 |
Total trade receivables, net |  | 8 217 |  | 8 301 |
The following table summarizes the movement in the provision for doubtful trade receivables:
(USD millions) |  | 2020 |  | 2019 |  | 2018 |
January 1 |  | – 95 |  | – 126 |  | – 190 |
Provisions related to discontinued operations 1 |  |  |  | 54 |  |  |
Impact of acquisitions of businesses |  |  |  |  |  | – 1 |
Provisions for doubtful trade receivables charged to the consolidated income statement 2 |  | – 59 |  | – 89 |  | – 47 |
Utilization of provisions for doubtful trade receivables |  | 13 |  | 12 |  | 39 |
Reversal of provisions for doubtful trade receivables credited to the consolidated income statement 3 |  | 53 |  | 53 |  | 61 |
Currency translation effects |  | – 5 |  | 1 |  | 12 |
December 31 |  | – 93 |  | – 95 |  | – 126 |
1 Notes 1, 2 and 30 provide information related to discontinued operations.
2 Provisions charged to the consolidated income statement from continuing operations were USD 30 million in 2018.
3 Reversal of provisions credited to the consolidated income statement from continuing operations were USD 44 million in 2018.
The following table shows the trade receivables that are not overdue as specified in the payment terms and conditions established with Novartis customers, as well as an analysis of overdue amounts and related provisions for doubtful trade receivables:
(USD millions) |  | 2020 |  | 2019 |
Not overdue |  | 7 714 |  | 7 763 |
Past due for not more than one month |  | 150 |  | 161 |
Past due for more than one month but less than three months |  | 118 |  | 123 |
Past due for more than three months but less than six months |  | 102 |  | 103 |
Past due for more than six months but less than one year |  | 77 |  | 96 |
Past due for more than one year |  | 149 |  | 150 |
Provisions for doubtful trade receivables |  | – 93 |  | – 95 |
Total trade receivables, net |  | 8 217 |  | 8 301 |
Trade receivable balances represent amounts due from our customers, which are mainly drug wholesalers, retailers, private health systems, government agencies, managed care providers, pharmacy benefit managers and government-supported healthcare systems. Novartis continues to monitor sovereign debt issues and economic conditions in the countries in which it operates, particularly in Argentina, Brazil, Greece, Italy, Portugal, Russia, Saudi Arabia, Spain and Turkey, and evaluates trade receivables in these countries for potential collection risks. The majority of the outstanding trade receivables from Portugal, Saudi Arabia, Spain and Greece are due directly from local governments or from government-funded entities. Deteriorating credit and economic conditions as well as other factors in these closely monitored countries have resulted in, and may continue to result in, an increase in the average length of time that it takes to collect these trade receivables, and may require the Group to re-evaluate the expected credit loss amount of these trade receivables in future periods. The following table shows the gross trade receivables balance from these closely monitored countries at December 31, 2020 and 2019; the amounts that are past due for more than one year; and the related provisions that have been recorded:
(USD millions) |  | 2020 |  | 2019 |
Total balance of gross trade receivables from closely monitored countries |  | 1 505 |  | 1 588 |
Past due for more than one year |  | 55 |  | 61 |
Provisions |  | 27 |  | 24 |
At December 31, 2020, amounts past due for more than one year are not significant in any of these countries on a standalone basis. Total trade receivables include amounts denominated in the following major currencies:
(USD millions) |  | 2020 |  | 2019 |
US dollar (USD) |  | 3 311 |  | 3 466 |
Euro (EUR) |  | 1 668 |  | 1 384 |
Japanese yen (JPY) |  | 437 |  | 466 |
Russian ruble (RUB) |  | 288 |  | 341 |
Chinese yuan (CNY) |  | 208 |  | 279 |
British pound (GBP) |  | 191 |  | 202 |
Australian dollar (AUD) |  | 153 |  | 125 |
Brazilian real (BRL) |  | 148 |  | 165 |
Canadian dollar (CAD) |  | 125 |  | 129 |
Swiss franc (CHF) |  | 124 |  | 89 |
Other currencies |  | 1 564 |  | 1 655 |
Total trade receivables, net |  | 8 217 |  | 8 301 |

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