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Trade receivables
 12 Months Ended
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