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Derivative instruments and hedging activities (Tables) | 3 Months Ended
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Mar. 31, 2019
Summary of Notional Amounts for Hedged Items, Designated as Hedge Accounting | The following table summarizes the notional amounts for hedged items, when transactions are designated as hedge accounting:
|  | March 31, |  |  | December 31, |
|  | 2019 |  |  | 2018 |
|  | (U.S. $ in millions) |
Cross-currency swap—cash flow hedge |  | $ | 588 |  |  | $ | 588 |
Cross-currency swap—net investment hedge |  |  | 1,000 |  |  |  | 1,000 |
Interest rate swap—fair value hedge |  |  | 500 |  |  |  | 500 |
|  |  | 2,088 |  |  |  | 2,088 |
Summary of Classification and Fair Values of Derivative Instruments | The following table summarizes the classification and fair values of derivative instruments:
|  | Fair value |
|  | Designated as hedging instruments |  |  | Not designated as hedging instruments |
|  | March 31, 2019 |  |  | December 31, 2018 |  |  | March 31, 2019 |  |  | December 31, 2018 |
Reported under |  | (U.S. $ in millions) |
Asset derivatives: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Option and forward contracts |  | $ | — |  |  | $ | — |  |  | $ | 32 |  |  | $ | 18 |
Other non-current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cross-currency swaps—cash flow hedge |  |  | 76 |  |  |  | 58 |  |  |  | — |  |  |  | — |
Liability derivatives: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Option and forward contracts |  |  | — |  |  |  | — |  |  |  | (11 | ) |  |  | (26 | )
Cross-currency swaps—net investment hedge |  |  | (22 | ) |  |  | — |  |  |  | — |  |  |  | — |
Other taxes and long-term liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cross-currency swaps—net investment hedge |  |  | — |  |  |  | (41 | ) |  |  | — |  |  |  | — |
Senior notes and loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps—fair value hedge |  |  | (6 | ) |  |  | (9 | ) |  |  | — |  |  |  | — |
Information Regarding The Location And Amount Of Pretax (Gains) Losses Of Derivatives Designated In Fair Value Or Cash Flow Hedging Relationships | The table below provides information regarding the location and amount of pretax (gains) losses from derivatives designated in fair value or cash flow hedging relationships:
|  | Reported under |
|  | Financial expenses, net |  |  | Other Comprehensive income |
|  | Period ended, |
|  | March 31, 2019 |  |  | March 31, 2018** |  |  | March 31, 2019 |  |  | March 31, 2018** |
|  | (U.S. $ in millions) |
Line items in which effects of hedges are recorded |  | $ | 218 |  |  | $ | 271 |  |  | $ | 100 |  |  | $ | 113 |
Cross-currency swaps — cash flow hedge (1) |  |  | (1 | ) |  |  | * |  |  |  | (20 | ) |  |  | 17 |
Cross-currency swaps — net investment hedge (2) |  |  | (7 | ) |  |  | (7 | ) |  |  | (20 | ) |  | $ | 30 |
Interest rate swaps — fair value hedge (3) |  | $ | 1 |  |  | $ | * |  |  | $ | — |  |  | $ | — |
* | Represents an amount less than $0.5 million.
** | Comparative figures are based on prior hedge accounting standard.
The table below provides information regarding the location and amount of pretax (gains) losses from derivatives not designated as hedging instruments:
|  | Reported under |
|  | Financial expenses, net |  |  | Net Revenues |
|  | Period ended, |
|  | March 31, 2019 |  |  | March 31, 2018 |  |  | March 31, 2019 |  |  | March 31, 2018 |
|  | (U.S. $ in millions) |
Line items in which effects of hedges are recorded |  |  | 218 |  |  |  | 271 |  |  |  | 4,295 |  |  |  | 5,065 |
Option and forward contracts (4) |  | $ | (42 | ) |  | $ | 19 |  |  | $ | — |  |  | $ | — |
(1) | With respect to cross-currency swap agreements, Teva recognized gains which mainly reflect the differences between the fixed interest rate and the floating interest rate.
(2) | In each of the first and second quarters of 2017, Teva entered into a cross currency swap agreement with a notional amount of $500 million maturing in 2020. These cross currency swaps were designated as a net investment hedge of Teva’s foreign subsidiaries euro denominated net assets, in order to reduce the risk of adverse exchange rate fluctuations. With respect to these cross currency swap agreements, Teva recognized gains which mainly reflect the differences between the float-for-float interest rates paid and received. No amounts were reclassified from AOCI into income related to the sale of a subsidiary.
(3) | In the fourth quarter of 2016, Teva entered into an interest rate swap agreement designated as fair value hedge relating to its 2.8% senior notes due 2023 with respect to $500 million notional amount of outstanding debt. With respect to this interest rate swap agreement, Teva recognized a loss which mainly reflects the differences between the fixed interest rate and the floating interest rate.
(4) | Teva uses foreign exchange contracts (mainly option and forward contracts) to hedge balance sheet items from currency exposure. These foreign exchange contracts are not designated as hedging instruments for accounting purposes. In connection with these foreign exchange contracts, Teva recognizes gains or losses that offset the revaluation of the balance sheet items also recorded under financial expenses—net.
Derivatives Not Designated as Hedging Instruments [Table Text Block] | The table below provides information regarding the location and amount of pretax (gains) losses from derivatives not designated as hedging instruments:
|  | Reported under |
|  | Financial expenses, net |  |  | Net Revenues |
|  | Period ended, |
|  | March 31, 2019 |  |  | March 31, 2018 |  |  | March 31, 2019 |  |  | March 31, 2018 |
|  | (U.S. $ in millions) |
Line items in which effects of hedges are recorded |  |  | 218 |  |  |  | 271 |  |  |  | 4,295 |  |  |  | 5,065 |
Option and forward contracts (4) |  | $ | (42 | ) |  | $ | 19 |  |  | $ | — |  |  | $ | — |

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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41641-113959 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(n)(2)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579240-113959 + Details
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