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Goodwill and intangible assets (Tables) | 12 Months Ended
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Dec. 31, 2022
Disclosure of detailed information about intangible assets [abstract] |
Movements of goodwill and intangible assets | The following table summarizes the movements of goodwill and intangible assets in 2022:
|  | Goodwill |  | Intangible assets other than goodwill |
(USD millions) |  | Total |  | In-process research and development |  | Technologies |  | Currently marketed products |  | Other intangible assets |  | Total |
At January 1, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |
Cost |  | 29 900 |  | 8 013 |  | 1 080 |  | 56 213 |  | 2 905 |  | 68 211 |
Accumulated amortization and impairment |  | -305 |  | -2 514 |  | -903 |  | -29 107 |  | -1 505 |  | -34 029 |
Net book value |  | 29 595 |  | 5 499 |  | 177 |  | 27 106 |  | 1 400 |  | 34 182 |
At January 1, 2022 |  | 29 595 |  | 5 499 |  | 177 |  | 27 106 |  | 1 400 |  | 34 182 |
Impact of acquisitions of businesses |  | 161 |  | 1 209 |  |  |  |  |  |  |  | 1 209 |
Reclassifications 1 |  |  |  | -1 429 |  | 2 |  | 1 403 |  | 24 |  |  |
Additions |  |  |  | 330 |  |  |  | 1 175 |  | 588 |  | 2 093 |
Disposals and derecognitions 2 |  | -28 |  | -95 |  |  |  | -3 |  | -2 |  | -100 |
Amortization charge |  |  |  |  |  | -37 |  | -3 603 |  | -342 |  | -3 982 |
Impairment charge |  |  |  | -917 |  | -15 |  | -322 |  | -72 |  | -1 326 |
Currency translation effects |  | -427 |  | -176 |  | -6 |  | -243 |  | -7 |  | -432 |
At December 31, 2022 |  | 29 301 |  | 4 421 |  | 121 |  | 25 513 |  | 1 589 |  | 31 644 |
At December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |
Cost |  | 29 596 |  | 7 092 |  | 1 038 |  | 58 249 |  | 3 305 |  | 69 684 |
Accumulated amortization and impairment |  | -295 |  | -2 671 |  | -917 |  | -32 736 |  | -1 716 |  | -38 040 |
Net book value |  | 29 301 |  | 4 421 |  | 121 |  | 25 513 |  | 1 589 |  | 31 644 |
1 Reclassifications between various asset categories as a result of product launches of acquired in-process research and development and completion of software development
2 Derecognition of assets that are no longer being used or developed and are not considered to have a significant disposal value or other alternative use
The following table summarizes the movements of goodwill and intangible assets in 2021:
|  | Goodwill |  | Intangible assets other than goodwill |
(USD millions) |  | Total |  | In-process research and development |  | Technologies |  | Currently marketed products |  | Other intangible assets |  | Total |
At January 1, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |
Cost |  | 30 321 |  | 6 893 |  | 1 115 |  | 57 333 |  | 2 384 |  | 67 725 |
Accumulated amortization and impairment |  | -322 |  | -2 193 |  | -885 |  | -26 566 |  | -1 272 |  | -30 916 |
Net book value |  | 29 999 |  | 4 700 |  | 230 |  | 30 767 |  | 1 112 |  | 36 809 |
At January 1, 2021 |  | 29 999 |  | 4 700 |  | 230 |  | 30 767 |  | 1 112 |  | 36 809 |
Impact of acquisitions of businesses |  | 238 |  | 262 |  |  |  | 292 |  | 98 |  | 652 |
Reclassifications 1 |  |  |  | -20 |  | 15 |  | 5 |  |  |  |  |
Additions |  |  |  | 958 |  |  |  | 270 |  | 508 |  | 1 736 |
Disposals and derecognitions 2 |  |  |  |  |  |  |  | -36 |  | -1 |  | -37 |
Amortization charge |  |  |  |  |  | -41 |  | -3 607 |  | -255 |  | -3 903 |
Impairment charge |  |  |  | -350 |  | -17 |  | -1 |  | -35 |  | -403 |
Currency translation effects |  | -642 |  | -51 |  | -10 |  | -584 |  | -27 |  | -672 |
At December 31, 2021 |  | 29 595 |  | 5 499 |  | 177 |  | 27 106 |  | 1 400 |  | 34 182 |
At December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |
Cost |  | 29 900 |  | 8 013 |  | 1 080 |  | 56 213 |  | 2 905 |  | 68 211 |
Accumulated amortization and impairment |  | -305 |  | -2 514 |  | -903 |  | -29 107 |  | -1 505 |  | -34 029 |
Net book value |  | 29 595 |  | 5 499 |  | 177 |  | 27 106 |  | 1 400 |  | 34 182 |
1 Reclassifications between various asset categories as a result of product launches of acquired in-process research and development and completion of software development
2 Derecognition of assets that are no longer being used or developed and are not considered to have a significant disposal value or other alternative use
Allocation of net book values of goodwill and intangible assets by reporting segment |
|  | Goodwill1 |  | Intangible assets other than goodwill |
(USD millions) |  | Total |  | In-process research and development |  | Technologies |  | Currently marketed products |  | Other intangible assets |  | Total |
Innovative Medicines |  | 21 531 |  | 4 186 |  | 14 |  | 24 487 |  | 1 139 |  | 29 826 |
Sandoz |  | 7 770 |  | 235 |  | 107 |  | 1 026 |  | 92 |  | 1 460 |
Corporate |  |  |  |  |  |  |  |  |  | 358 |  | 358 |
Net book value at December 31, 2022 |  | 29 301 |  | 4 421 |  | 121 |  | 25 513 |  | 1 589 |  | 31 644 |
1 The Innovative Medicines and Sandoz Divisions’ represent the grouping of cash-generating units, to which goodwill is allocated.
The following table summarizes the allocation of the net book values of goodwill and intangible assets by reporting segment at December 31, 2021:
|  | Goodwill1 |  | Intangible assets other than goodwill |
(USD millions) |  | Total |  | In-process research and development |  | Technologies |  | Currently marketed products |  | Other intangible assets |  | Total |
Innovative Medicines |  | 21 562 |  | 5 313 |  | 15 |  | 25 938 |  | 1 091 |  | 32 357 |
Sandoz |  | 8 026 |  | 186 |  | 162 |  | 1 168 |  | 61 |  | 1 577 |
Corporate |  | 7 |  |  |  |  |  |  |  | 248 |  | 248 |
Net book value at December 31, 2021 |  | 29 595 |  | 5 499 |  | 177 |  | 27 106 |  | 1 400 |  | 34 182 |
1 The Innovative Medicines and Sandoz Divisions’ and Corporate represent the grouping of cash-generating units, to which goodwill is allocated.
Assumptions used in the calculation of valuation |
(As a percentage) |  | Innovative Medicines |  | Sandoz |
Terminal growth rate |  | 1.5 |  | 1.0 |
Discount rate (post-tax) |  | 8.0 |  | 8.0 |
Intangible asset impairment charges and reversals |
|  | Impairment charges |  | Impairment reversals |
(USD millions) |  | 2022 |  | 2021 |  | 2020 |  | 2022 |  | 2021 |  | 2020 |
Innovative Medicines 1 |  | -1 299 |  | -367 |  | -768 |  |  |  |  |  |  |
Sandoz |  | -25 |  | -28 |  | -141 |  |  |  |  |  |  |
Corporate |  | -2 |  | -8 |  | -5 |  |  |  |  |  |  |
Total |  | -1 326 |  | -403 |  | -914 |  |  |  |  |  |  |
1 2022 includes an impairment of USD 0.6 billion related to the write-down of IPR&D related to cessation of clinical development program UNR844.
2021 includes an impairment of USD 0.2 billion related to the write-down of IPR&D related to cessation of clinical development program GTX312.
2020 includes an impairment of USD 0.5 billion related to the write-down of IPR&D related to cessation of clinical development program ZPL389 for atopic dermatitis and USD 0.2 billion related to a partial write-down of the Votrient currently marketed product (Votrient carrying value was USD 0.9 billion in 2022 and USD 1.3 billion in 2021).

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