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v3.22.4

Details to the consolidated statements of cash flows (Tables) | 12 Months Ended
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Dec. 31, 2022
Disclosure of details to the consolidated statements of cash flows [abstract] |
Adjustments for non-cash items from continuing operations |
(USD millions) |  | 2022 |  | 2021 |  | 2020 |
Depreciation, amortization and impairments on: |  |  |  |  |  |  |
Property, plant and equipment |  | 1 570 |  | 1 489 |  | 1 758 |
Right-of-use assets |  | 303 |  | 318 |  | 330 |
Intangible assets |  | 5 308 |  | 4 306 |  | 4 376 |
Financial assets 1 |  | 260 |  | -38 |  | -335 |
Change in provisions and other non-current liabilities |  | 1 403 |  | 896 |  | 1 411 |
Gains on disposal and other adjustments on property, plant and equipment; intangible assets; financial assets; and other non-current assets, net |  | -333 |  | -677 |  | -478 |
Equity-settled compensation expense |  | 823 |  | 736 |  | 738 |
Loss/(income) from associated companies 2 |  | 9 |  | -15 339 |  | -673 |
Income taxes |  | 1 416 |  | 2 119 |  | 1 807 |
Net financial expense |  | 817 |  | 891 |  | 947 |
Other |  | -30 |  |  |  |  |
Total |  | 11 546 |  | -5 299 |  | 9 881 |
1 Includes fair value changes
2 2021 included the gain of USD 14.6 billion recognized from the divestment of the Group's investment in Roche (see Notes 2 and 4).
In 2022, other than through business combinations, there were USD 635 million additions to intangible assets with deferred payments. In 2022, there were USD 247 million (2021: USD 321 million, 2020: USD 346 million) additions to right-of-use assets recognized.
Cash flows from changes in working capital and other operating items included in operating cash flow from continuing operations |
(USD millions) |  | 2022 |  | 2021 |  | 2020 |
(Increase)/decrease in inventories |  | -830 |  | 81 |  | -543 |
(Increase)/decrease in trade receivables |  | -589 |  | -389 |  | 137 |
Decrease in trade payables |  | -48 |  | -21 |  | -324 |
Change in other current and non-current assets |  | -194 |  | -202 |  | 229 |
Change in other current liabilities |  | 658 |  | 772 |  | 211 |
Other adjustments, net |  |  |  | 0 |  | -1 |
Total |  | -1 003 |  | 241 |  | -291 |
Cash flows arising from acquisitions and divestments of businesses |
(USD millions) |  | Note |  | 2022 |  | 2021 |  | 2020 |
Net assets recognized as a result of acquisitions of businesses |  | 24 |  | -1 077 |  | -735 |  | -10 173 |
Fair value of previously held equity interests |  |  |  | 21 |  | 42 |  | 7 |
Contingent consideration payables, net |  |  |  | 205 |  | 59 |  | 98 |
Payments, deferred consideration and other adjustments, net |  |  |  | -13 |  | 1 |  | 62 |
Cash flows used for acquisitions of businesses |  |  |  | -864 |  | -633 |  | -10 006 |
Cash flows (used for)/from divestments of businesses, net 1 |  |  |  | -15 |  | 66 |  | 49 |
Cash flows used for acquisitions and divestments of businesses, net |  |  |  | -879 |  | -567 |  | -9 957 |
1 In 2022, USD 15 million net cash outflows from divestments of businesses included USD 20 million reduction to cash and cash equivalents due to the derecognized cash and cash equivalents following a loss of control of a company upon expiry of an option to purchase the company, partly offset by USD 5 million net cash inflows from business divestments in 2022 and in prior years.
In 2022, the net identifiable assets of divested businesses amounted to USD 173 million, comprised of non-current assets of USD 132 million, current assets of USD 113 million, including USD 71 million cash and cash equivalents and of non-current and current liabilities of USD 72 million. Deferred sales price receivables and other adjustments amounted to USD 41 million.
In 2021, USD 66 million included USD 52 million net cash inflows from divestments in previous years, and a USD 14 million net cash inflow from a business divestment in 2021, comprised of intangible assets.
In 2020, USD 49 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, 2022 |  | 22 902 |  | 6 295 |  | 1 621 |  | 275 |
Increase in non-current financial debts |  | 16 |  |  |  |  |  |  |
Repayments of the current portion of non-current financial debts |  |  |  | -2 575 |  |  |  |  |
Change in current financial debts 1 |  |  |  | 295 |  |  |  |  |
Payments of lease liabilities |  |  |  |  |  |  |  | -295 |
Interest payments for amounts included in lease liabilities classified as cash flows from operating activities |  |  |  |  |  |  |  | -51 |
New, modified and terminated leases, net |  |  |  |  |  | 173 |  | 49 |
Impact of acquisitions and divestments of businesses, net |  |  |  |  |  | 9 |  | 3 |
Changes in fair values, lease interest and other changes, net |  |  |  | -13 |  |  |  | 60 |
Amortization of bonds discount |  | 17 |  | 5 |  |  |  |  |
Currency translation effects |  | -366 |  | -401 |  | -41 |  | -14 |
Reclassification from non-current to current, net |  | -2 325 |  | 2 325 |  | -224 |  | 224 |
December 31, 2022 |  | 20 244 |  | 5 931 |  | 1 538 |  | 251 |
1 Change in current financial debts included net cash outflows from interest-bearing accounts of employees payable on demand amounting to USD 1.7 billion. See Note 21.
(USD millions) |  | Non-current financial debts |  | Current financial debts and derivative financial instruments |  | Non-current lease liabilities |  | Current lease liabilities |
January 1, 2021 |  | 26 259 |  | 9 785 |  | 1 719 |  | 286 |
Increase in non-current financial debts |  | 16 |  |  |  |  |  |  |
Repayments of the current portion of non-current financial debts |  |  |  | -2 162 |  |  |  |  |
Change in current financial debts |  |  |  | -3 524 |  |  |  |  |
Payments of lease liabilities, net |  |  |  |  |  |  |  | -316 |
Interest payments for amounts included in lease liabilities classified as cash flows from operating activities |  |  |  |  |  |  |  | -52 |
New, modified and terminated leases, net |  |  |  |  |  | 192 |  | 61 |
Impact of acquisitions of businesses |  |  |  | 1 |  |  |  |  |
Changes in fair values, lease interest and other changes, net |  |  |  | -124 |  |  |  | 62 |
Amortization of bonds discount |  | 25 |  | 4 |  |  |  |  |
Currency translation effects |  | -774 |  | -309 |  | -43 |  | -13 |
Reclassification from non-current to current, net |  | -2 624 |  | 2 624 |  | -247 |  | 247 |
December 31, 2021 |  | 22 902 |  | 6 295 |  | 1 621 |  | 275 |
(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 the current portion 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, modified and terminated leases, net |  |  |  |  |  | 221 |  | 73 |
Impact of acquisitions of businesses |  |  |  | 32 |  | 36 |  | 8 |
Changes in fair values, lease interest 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 |

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