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v3.20.4

Details to the consolidated statements of cash flows (Tables) | 12 Months Ended
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Dec. 31, 2020
Disclosure of details to the consolidated statements of cash flows [abstract] |
Adjustments for non-cash items 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."
Cash flows from changes in working capital and other operating items included in operating cash flow 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 |
Cash flows arising from acquisitions and divestments of businesses |
(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.
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.

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