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Changes in consolidated statements of comprehensive income (Tables)
 12 Months Ended
Dec. 31, 2020
Comprehensive income [abstract]  
Comprehensive income


(USD millions)








Note


Fair value

adjustments

on financial

instruments


Actuarial

gains/(losses)

from defined

benefit plans


Cumulative

currency

translation

effects
Total value

adjustments

attributable to

Novartis AG

shareholders




Non-

controlling

interest






Total value

adjustments
Value adjustments at December 31, 2017, as previously reported
395
– 5 064
329
– 4 340
– 21
– 4 361
Impact of adoption of IFRS 9 on retained

earnings and OCI




– 177






– 177




– 177
Restated value adjustments at January 1, 2018
218
– 5 064
329
– 4 517
– 21
– 4 538
Fair value adjustments on deferred cash flow

hedges, net of taxes of USD -1 million




12






12




12
Fair value adjustments on equity securities,

net of taxes of USD -5 million  1




13






13




13
Net investment hedge
95
95
95
Defined benefit plans, net of taxes

of USD 69 million






– 359




– 359




– 359
Currency translation effects
8.1
320
320
– 5
315
Total value adjustments in 2018
25
– 359
415
81
– 5
76
Fair value adjustments on equity securities sold, reclassified to retained earnings
– 16
– 16
– 16
Value adjustments at December 31, 2018
227
– 5 423
744
– 4 452
– 26
– 4 478
Fair value adjustments on deferred cash

flow hedges




1






1




1
Fair value adjustments on debt securities
1
1
1
Fair value adjustments on equity securities,

net of taxes of USD 47 million  1




– 47






– 47




– 47
Net investment hedge
44
44
44
Defined benefit plans, net of taxes

of USD -313 million  2






– 466




– 466


– 1


– 467
Currency translation effects
8.1
354
354
– 2
352
Total value adjustments in 2019
– 45
– 466
398
– 113
– 3
– 116
Fair value adjustments on equity securities

sold, reclassified to retained earnings




– 95






– 95




– 95
Fair value adjustments related to divestments
33
– 30
3
3
Value adjustments at December 31, 2019
120
– 5 919
1 142
– 4 657
– 29
– 4 686
Fair value adjustments on equity securities,

net of taxes of USD -36 million  1




250






250




250
Net investment hedge
– 201
– 201
– 201
Defined benefit plans, net of taxes

of USD -3 million






145




145


– 2


143
Currency translation effects
8.1
3 193
3 193
1
3 194
Total value adjustments in 2020
250
145
2 992
3 387
– 1
3 386
Fair value adjustments on equity securities

sold, reclassified to retained earnings




– 150






– 150




– 150
Fair value adjustments related to divestments
2
2
2
Impact of change in ownership of consolidated entities
– 1
– 1
1
Value adjustments at December 31, 2020
220
– 5 773
4 134
– 1 419
– 29
– 1 448
 1  Includes fair value adjustments on equity securities designated as financial assets valued at fair value through other comprehensive income with no subsequent recycling into the

consolidated income statement
 2  Included in 2019 is a USD -358 million impact related to the revaluation of deferred tax assets on Swiss post-employment benefits that were previously recognized through other

comprehensive income. This revaluation resulted from the Swiss tax reforms enacted by the voters in 2019. Refer to Note 12 for additional disclosures.