<SEC-DOCUMENT>0001157523-19-001035.txt : 20190502
<SEC-HEADER>0001157523-19-001035.hdr.sgml : 20190502
<ACCEPTANCE-DATETIME>20190502070034
ACCESSION NUMBER:		0001157523-19-001035
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20190502
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20190502
DATE AS OF CHANGE:		20190502

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TEVA PHARMACEUTICAL INDUSTRIES LTD
		CENTRAL INDEX KEY:			0000818686
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			L3
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-16174
		FILM NUMBER:		19789660

	BUSINESS ADDRESS:	
		STREET 1:		5 BAZEL ST
		STREET 2:		P O B 3190
		CITY:			PETACH TIKVA
		STATE:			L3
		ZIP:			49131
		BUSINESS PHONE:		9729267267

	MAIL ADDRESS:	
		STREET 1:		TEVA PHARMACEUTICAL INDUSTRIES LIMITED
		STREET 2:		5 BAZEL ST PO B 3190
		CITY:			PETACH TIKVA
		STATE:			L3
		ZIP:			49131
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a51978580.htm
<DESCRIPTION>TEVA PHARMACEUTICAL INDUSTRIES LTD. 8-K
<TEXT>
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    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 18pt"><b>UNITED
      STATES</b></font><b><font style="font-family: Times New Roman; font-size: 18pt"><br style="font-size: 18pt; font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 18pt">SECURITIES
      AND EXCHANGE COMMISSION</font></b><br><font style="font-family: Times New Roman; font-size: 12pt"><b>Washington,
      D.C. 20549</b></font><br>
    </p>
    <p>

    </p>
    <hr style="color: #000000; width: 100%; text-align: center; height: 1.0 pt">


    <p style="text-align: center">
      <br>
      <font style="font-family: Times New Roman; font-size: 16pt"><b>FORM 8-K</b></font><br><br>
    </p>
    <hr style="color: #000000; width: 100%; text-align: center; height: 1.0 pt">


    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>CURRENT
      REPORT</b></font><br><font style="font-family: Times New Roman; font-size: 12pt"><b>Pursuant
      to Section 13 or 15(d)</b></font><b><font style="font-family: Times New Roman; font-size: 12pt"><br style="font-size: 12pt; font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 12pt">of
      the Securities Exchange Act of 1934</font></b>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Date of
      Report (Date of earliest event reported) May 2, 2019</b></font><font style="font-family: Times New Roman; font-size: 10pt"><br style="font-size: 10pt; font-family: Times New Roman"></font><br>
    </p>
    <hr style="color: #000000; width: 100%; text-align: center; height: 1.0 pt">


    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 20pt"><b>TEVA&#160;PHARMACEUTICAL&#160;INDUSTRIES&#160;LIMITED</b></font><br><font style="font-family: Times New Roman; font-size: 10pt"><b>(Exact
      name of registrant as specified in its charter)</b></font>
    </p>
    <hr style="color: #000000; width: 100%; text-align: center; height: 1.0 pt">


    <p style="text-align: center">
      <br>

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 10pt">
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; width: 33%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Israel</b>
          </p>
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; width: 34%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>001-16174</b>
          </p>
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; width: 33%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Not Applicable</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; width: 33%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(State or Other Jurisdiction</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>of Incorporation)</b>
          </p>
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; width: 34%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(Commission</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>File Number)</b>
          </p>
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; width: 33%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(IRS Employer</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Identification No.)</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <br>
      <b>5 Basel Street</b><br><b>P.O. Box 3190</b><br><b>Petach Tikva
      4951033, Israel</b><br><b>(Address of Principal Executive Offices,
      including Zip Code)</b><br><br><b>+972-3-914-8171</b><br><b>(Registrant&#8217;s
      Telephone Number, including Area Code)</b><br><br><b>Not Applicable</b><br><b>(Former
      Name or Former Address, if Changed Since Last Report)</b>
    </p>
    <hr style="text-align: center; height: 1.0 pt; color: #000000; width: 40%">


    <p style="text-align: center">

    </p>
    <p>
      <font style="font-size: 10pt; font-family: Times New Roman">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions (see General Instruction A.2. below):</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <p>
      Indicate by check mark whether the registrant is an emerging growth
      company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405
      of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934
      (&#167;240.12b-2 of this chapter).
    </p>
    <p style="text-align: right">
      Emerging Growth Company&#160;&#160;<font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
    </p>
    <p>
      If an emerging growth company, indicate by check mark if the registrant
      has elected not to use the extended transition period for complying with
      any new or revised financial accounting standards provided pursuant to
      Section&#160;13(a) of the Exchange Act.&#160;&#160;<font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
    </p>
    <p>

    </p>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p>
      <b>ITEM 2.02</b> &#160;&#160;<b>Results of Operations and Financial
      Condition</b>
    </p>
    <p>
      On May 2, 2019, Teva Pharmaceutical Industries Ltd. issued a press
      release announcing its financial results for the period ended March 31,
      2019. A copy of the press release is furnished as Exhibit 99.1 to this
      Current Report on Form 8-K and the information contained therein is
      incorporated herein by reference.
    </p>
    <p>
      The information included in this Item 2.02 is being furnished to the
      Securities and Exchange Commission and shall not be deemed &#8220;filed&#8221; for
      purposes of Section&#160;18 of the Securities Exchange Act of 1934, as
      amended (the &#8220;Exchange Act&#8221;), nor shall it be deemed incorporated by
      reference in any filing under the Securities Act of 1933, as amended, or
      the Exchange Act, except as shall be expressly set forth by specific
      reference in such a filing.
    </p>
    <p>
      <br>
      <br>
      <b>ITEM&#160;9.01 &#160;&#160;Financial Statements and Exhibits</b>
    </p>
    <p>
      (d) Exhibits
    </p>
    <p>

    </p>
<div style="text-align:left">
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      <tr>
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        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; width: 2%">
          &#160;
        </td>
        <td valign="middle" style="text-align: left; padding-left: 0.0px; width: 90%">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; width: 8%; border-bottom-width: 1.0pt">
          <b>Exhibit</b>

          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>No.</b>
          </p>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px; width: 2%">

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-color: black; width: 90%; border-bottom-width: 1.0pt">
          <b>Description of Document</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; width: 8%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <a href="a51978580ex99_1.htm">99.1</a>
          </p>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; width: 2%">

        </td>
        <td valign="top" style="text-align: left; padding-left: 5.0px; width: 90%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <a href="a51978580ex99_1.htm">Teva Reports First Quarter 2019
            Financial Results</a>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-size: 10pt; font-family: Times New Roman"><b>SIGNATURES</b></font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Times New Roman">Pursuant to
      the requirements of the Securities Exchange Act of 1934, as amended, the
      registrant has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.</font>
    </p>
    <p>

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 10pt">
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 46%">

        </td>
        <td valign="top" colspan="3" style="text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>TEVA PHARMACEUTICAL INDUSTRIES LTD.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 46%">

        </td>
        <td valign="top" colspan="3" style="text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px; width: 4%">
          Date:
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px; width: 46%">
          May 2, 2019
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px; width: 4%">
          By:
        </td>
        <td valign="top" colspan="2" style="border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          <p style="margin-top: 0px; margin-bottom: 0px">
            /s/ Michael McClellan
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 46%">

        </td>
        <td style="width: 4%">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 6%">
          Name:
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 40%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Michael McClellan
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 46%">

        </td>
        <td style="width: 4%">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 6%">
          Title:
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 40%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Executive Vice President, Chief
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 46%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 6%">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 40%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Financial Officer
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51978580ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
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    <title></title>
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  <body style="font-size: 8pt; font-family: Times New Roman">
    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Teva
      Reports First Quarter 2019 Financial Results</b></font>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 10pt">Revenues
        of $4.3 billion</font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 10pt">GAAP
        diluted loss per share of $0.10</font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 10pt">Non-GAAP
        diluted EPS of $0.60</font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 10pt">Free cash
        flow of $360 million</font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 10pt">Spend base
        reduction of $2.5 billion since initiation of the restructuring plan
        in 2018; on-track to achieve $3.0 billion by the end of 2019</font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 10pt">Full year
        2019 revenues and EPS guidance reaffirmed</font>
      </li>
    </ul>
    <p>
      JERUSALEM--(BUSINESS WIRE)--May 2, 2019--Teva Pharmaceutical Industries
      Ltd. (NYSE: TEVA, TASE: TEVA) today reported results for the quarter
      ended March 31, 2019.
    </p>
    <p>
      Mr. K&#229;re Schultz, Teva&#8217;s President and CEO, said, &#8220;The second year of
      our two-year restructuring program got off to a promising start. We are
      on track to reduce our total cost base by $3 billion by the end of 2019
      and we have achieved a reduction of $2.5 billion to date, while
      continuing to lower our debt. &#8220;
    </p>
    <p>
      Mr. Schultz continued: &#8220;We faced the expected loss of exclusivities of
      key products COPAXONE<sup>&#174;</sup> and ProAir<sup>&#174;</sup> to
      generic competition. Our focus is on stabilizing our global generics
      business and ensuring the success of our long-term organic growth
      drivers, especially AJOVY<sup>&#174;</sup> and AUSTEDO<sup>&#174;</sup>.
      Both products continue to gain momentum since their initial launches and
      we are making the necessary investments to be able to bring them to
      markets outside of the U.S. as well as explore additional indications.&#8221;
    </p>
    <p>
      <u><b>First Quarter 2019 Consolidated Results</b></u>
    </p>
    <p>
      <b>Revenues</b> in the first quarter of 2019 were $4,295 million, a
      decrease of 15%, or 12% in local currency terms, compared to the first
      quarter of 2018, mainly due to generic competition to COPAXONE<sup>&#174;</sup>
      and a decline in revenues from our respiratory products and U.S.
      generics business.
    </p>
    <p>
      <b>Exchange rate</b> differences between the first quarter of 2019 and
      the first quarter of 2018 negatively impacted our revenues and GAAP
      operating income by $177 million and $49 million, respectively. Our
      non-GAAP operating income was negatively impacted by $58 million.
    </p>
    <p>
      GAAP <b>gross profit</b> was $1,856 million in the first quarter of
      2019, a decrease of 20% compared to the first quarter of 2018. GAAP <b>gross
      profit margin</b> was 43.2% in the first quarter of 2019, compared to
      45.7% in the first quarter of 2018. Non-GAAP <b>gross profit </b>was
      $2,150 million in the first quarter of 2019, a decline of 18% from the
      first quarter of 2018. Non-GAAP <b>gross profit margin</b> was 50.1% in
      the first quarter of 2019, compared to 51.7% in the first quarter of
      2018. The decrease in gross profit margin was mainly due to lower
      profitability in North America resulting mainly from a decline in
      COPAXONE revenues due to generic competition and lower revenues of
      certain other specialty products.
    </p>
    <div style="text-indent: 0pt; margin-left: 0pt; margin-right: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Research and Development (R&amp;D)</b> expenses in the first quarter
      of 2019 were $261 million, a decrease of 18% compared to the first
      quarter of 2018. Non-GAAP R&amp;D expenses were $255 million, or 5.9% of
      quarterly revenues in the first quarter of 2019, compared to $289
      million, or 5.7%, in the first quarter of 2018. The decrease in R&amp;D
      expenses resulted primarily from pipeline optimization, phase 3 studies
      that have ended and related headcount reductions.
    </p>
    <p>
      <b>Selling and Marketing (S&amp;M)</b> expenses in the first quarter of
      2019 were $648 million, a decrease of 12% compared to the first quarter
      of 2018. Non-GAAP S&amp;M expenses were $602 million, or 14.0% of quarterly
      revenues, in the first quarter of 2019, compared to $682 million, or
      13.5%, in the first quarter of 2018. The decrease was mainly due to cost
      reduction and efficiency measures as part of the restructuring plan.
    </p>
    <p>
      <b>General and Administrative (G&amp;A) </b>expenses in the first
      quarter of 2019 were $292 million, a decrease of 11% compared to the
      first quarter of 2018. Non-GAAP G&amp;A expenses were $280 million, or 6.5%
      of quarterly revenues, in the first quarter of 2019, compared to $322
      million, or 6.4%, in the first quarter of 2018. The decrease was mainly
      due to cost reduction and efficiency measures as part of the
      restructuring plan.
    </p>
    <p>
      GAAP <b>other income</b> in the first quarter of 2019 was $6 million,
      compared to $203 million in the first quarter of 2018. Non-GAAP <b>other
      income</b> in the first quarter of 2019 was $6 million, compared to $110
      million in the first quarter of 2018. Other income in the first quarter
      of 2018 was primarily the result of higher Section 8 recoveries from
      multiple cases in Canada and net gain related to the divestment of our
      women&#8217;s health business.
    </p>
    <p>
      GAAP <b>operating income</b> in the first quarter of 2019 was $134
      million, compared to $1,525 million in the first quarter of 2018.
      Non-GAAP <b>operating income</b> in the first quarter of 2019 was $1,019
      million, a decrease of 29% compared to $1,435 million in the first
      quarter of 2018. The decrease in non-GAAP operating income was mainly
      due to lower profits in North America resulting mainly from a decline in
      COPAXONE revenues due to generic competition, lower revenues of certain
      other specialty products in North America and lower other income,
      partially offset by cost reductions and efficiency measures as part of
      the restructuring plan.
    </p>
    <p>
      <b>EBITDA</b> (non-GAAP operating income, which excludes amortization
      and certain other items, as well as depreciation expenses) was $1,154
      million in the first quarter of 2019, a decrease of 27% compared to
      $1,587 million in the first quarter of 2018.
    </p>
    <p>
      GAAP <b>Financial expenses</b> were $218 million in the first quarter of
      2019, compared to $271 million in the first quarter of 2018.
    </p>
    <p>
      Non-GAAP<b> financial expenses </b>were $220 million in the first
      quarter of 2019, compared to $203 million in the first quarter of 2018.
      The increase in non-GAAP financial expenses was mainly due to increased
      interest expense as a result of the $4.4 billion bond issuance in March
      2018, partially offset by reduced financial expenses as a result debt
      repayments during 2018.
    </p>
    <p>
      In the first quarter of 2019, we recognized a <b>tax</b> <b>expense</b>
      of $9 million, or 11%, on pre-tax loss of $84 million. In the first
      quarter of 2018, we recognized a tax expense of $46 million on pre-tax
      income of $1,254 million. Our tax rate for the first quarter of 2019 was
      mainly affected by impairments, amortization and interest disallowance
      as a result of the U.S. Tax Cuts and Jobs Act. Non-GAAP <b>income taxes</b>
      for the first quarter of 2019 were $125 million, or 16%, on pre-tax
      non-GAAP income of $799 million. Non-GAAP income taxes in the first
      quarter of 2018 were $211 million, or 17%, on pre-tax non-GAAP income of
      $1,232 million. Our non-GAAP tax rate for the first quarter of 2019 was
      mainly affected by the mix of products sold in different geographies.
    </p>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      GAAP<b> net loss </b>attributable to ordinary shareholders and GAAP<b>
      diluted loss per share</b> in the first quarter of 2019 were $105
      million and $0.10, respectively, compared to income of $1,055 million
      and diluted earnings per share of $1.03 in the first quarter of 2018.
      Non-GAAP<b> net income</b> attributable to ordinary shareholders and
      non-GAAP<b> diluted EPS </b>in the first quarter of 2019 were $654
      million and $0.60, respectively, compared to $954 million and $0.94 in
      the first quarter of 2018.
    </p>
    <p>
      The weighted average diluted <b>outstanding shares</b> used for the
      fully diluted share calculation on a GAAP basis for the three months
      ended March 31, 2019 and 2018 were 1,090&#160;million and 1,020&#160;million
      shares, respectively. In the first quarter of 2019, the weighted average <b>outstanding
      shares </b>for the fully diluted EPS calculation on a non-GAAP basis was
      1,093 million, compared to 1,020 million in the first quarter of 2018.
      The increase was mainly due to the conversion of the mandatory
      convertible preferred shares to ordinary shares on December 17, 2018.
    </p>
    <p>
      As of March 31, 2019 and 2018, the fully diluted share count for
      purposes of calculating our market capitalization was approximately
      1,107 million and 1,095 million, respectively. <b>Non-GAAP information</b>:
      Net non-GAAP adjustments in the first quarter of 2019 were $759 million.
      Non-GAAP net income and non-GAAP EPS for the first quarter of 2019 were
      adjusted to exclude the following items:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Impairment of long-lived assets of $489 million comprised mainly of
        impairment of intangible assets of product rights and IPR&amp;D assets
        related to the Actavis Generics acquisition;
      </li>
      <li style="margin-bottom: 10.0px">
        Amortization of purchased intangible assets amounting to $283 million,
        of which $248 million is included in cost of goods sold and the
        remaining $35 million in S&amp;M expenses;
      </li>
      <li style="margin-bottom: 10.0px">
        Legal settlements and loss contingencies of $57 million;
      </li>
      <li style="margin-bottom: 10.0px">
        Equity compensation expenses of $34 million;
      </li>
      <li style="margin-bottom: 10.0px">
        Restructuring expenses of $32 million;
      </li>
      <li style="margin-bottom: 10.0px">
        Contingent consideration income of $71 million;
      </li>
      <li style="margin-bottom: 10.0px">
        Minority income of $8 million;
      </li>
      <li style="margin-bottom: 10.0px">
        Other non-GAAP items of $59 million; and
      </li>
      <li style="margin-bottom: 10.0px">
        Income tax of $116 million.
      </li>
    </ul>
    <p>
      Teva believes that excluding such items facilitates investors'
      understanding of its business. See the attached tables for a
      reconciliation of the GAAP results to the adjusted non-GAAP figures.
      Investors should consider non-GAAP financial measures in addition to,
      and not as replacement for, or superior to, measures of financial
      performance prepared in accordance with GAAP.
    </p>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Cash flow generated from operations</b> during the first quarter of
      2019 was $112 million, compared to $1,496 million in the first quarter
      of 2018.
    </p>
    <p>
      <b>Free</b> <b>cash flow</b> (cash flow generated from operations net of
      capital expenditures and deferred purchase price cash component
      collected for securitized trade receivables) was $360 million in the
      first quarter of 2019, compared to $1,894 million in the first quarter
      of 2018. The higher free cash flow in the first quarter of 2018 was
      mainly due to the proceeds from the working capital adjustment with
      Allergan and the legal settlement with Rimsa. In addition, the lower
      cash flow in the first quarter of 2019 was mainly due to lower revenues
      from COPAXONE, as well as a decline in sales of certain other specialty
      products and generic products.
    </p>
    <p>
      As of March 31, 2019, our <b>debt</b> was $28,624 million, compared to
      $28,916 million as of December 31, 2018, mainly due to favorable
      exchange rates, as well as the repurchase and cancellation of $126
      million of our $1,700 million 1.7% senior notes due July 2019. The
      portion of total debt classified as short-term as of March 31, 2019 was
      10%, compared to 8% as of December 31, 2018. The increase in 2019 was
      due to a net increase in current maturities.
    </p>
    <p>
      <u><b>Segment Results for the First Quarter 2019</b></u>
    </p>
    <p>
      <b>North America Segment</b>
    </p>
    <p>
      Our North America segment includes the United States and Canada.
    </p>
    <p>
      The following table presents revenues, expenses and profit for our North
      America segment for the three months ended March 31, 2019 and 2018:
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-size: 8pt; font-family: Times New Roman">
      <tr>
        <td>

        </td>
        <td colspan="12">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="middle" colspan="12" style="text-align: center; padding-left: 0.0px">
          <b>Three months ended March 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" colspan="5" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2019</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" colspan="4" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2018</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" colspan="12" style="text-align: center; padding-left: 0.0px">
          <b>(U.S.$ in millions / % of Segment Revenues)</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Revenues
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          2,047
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          100
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          2,531
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          100.0
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          %
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Gross profit
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1,039
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          50.8
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1,403
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          55.5
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          %
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          R&amp;D expenses
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          165
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          8.1
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          188
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          7.4
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          %
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          S&amp;M expenses
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          268
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          13.1
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          276
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          10.9
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          %
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          G&amp;A expenses
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          112
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          5.5
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          126
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          5.0
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          %
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Other income
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          (4
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#167;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          (102
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          (4.0
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          %)
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Segment profit
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          498
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          24.3
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          915
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          36.2
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      <b>Revenues</b> from our North America segment in the first quarter of
      2019 were $2,047 million, a decrease of $484 million, or 19%, compared
      to the first quarter of 2018, mainly due to a decline in revenues of
      COPAXONE, our U.S. generics business, BENDEKA<sup>&#174;</sup> / TREANDA<sup>&#174;</sup>
      and QVAR<sup>&#174;</sup>, partially offset by higher revenues from our
      Anda business, AUSTEDO<sup>&#174;</sup> and AJOVY<sup>&#174;</sup>. <b>Revenues
      in the United States</b>, our largest market, were $1,911 million in the
      first quarter of 2019, a decrease of $479 million, or 20%, compared to
      the first quarter of 2018.
    </p>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Revenues by Major Products and Activities</b>
    </p>
    <p>
      The following table presents revenues for our North America segment by
      major products and activities for the three months ended March 31, 2019
      and 2018:
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-size: 8pt; font-family: Times New Roman">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="5">

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          <b>North America</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="5" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Three months ended</b><br><b>March 31,</b>
          </p>
        </td>
        <td>

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px; padding-bottom: 2.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Percentage</b><br><b>Change</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2019</b>
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2018</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2018-2019</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="5" style="text-align: center; padding-left: 0.0px">
          <b>(U.S.$ in millions)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Generic products
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          966
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1,088
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (11%)
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          COPAXONE
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          208
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          476
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (56%)
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          BENDEKA / TREANDA
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          122
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          181
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (33%)
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          ProAir
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          59
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          130
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (55%)
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          QVAR
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          64
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          107
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (41%)
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          AJOVY
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          20
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px">
          NA
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          AUSTEDO
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          74
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          30
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          151%
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Anda
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          379
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          331
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          14%
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Other
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          155
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          188
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (18%)
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Total
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          2,047
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          2,531
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (19%)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      <b>Generic products</b> revenues in our North America segment in the
      first quarter of 2019 decreased by 11% to $966 million, compared to the
      first quarter of 2018, mainly due to market dynamics, price erosion in
      our U.S. generics business and portfolio optimization, partially offset
      by new generic product launches.
    </p>
    <p>
      In the first quarter of 2019, we led the U.S. generics market in total
      prescriptions and new prescriptions, with approximately 436 million
      total prescriptions (based on trailing twelve months), representing 12%
      of total U.S. generic prescriptions according to IQVIA data.
    </p>
    <p>
      <b>COPAXONE</b> revenues in our North America segment in the first
      quarter of 2019 decreased by 56% to $208 million, compared to the first
      quarter of 2018, mainly due to generic competition in the United States.
    </p>
    <p>
      COPAXONE revenues in the United States were $194 million in the first
      quarter of 2019.
    </p>
    <p>
      <b>BENDEKA</b> and <b>TREANDA</b> combined revenues in our North America
      segment in the first quarter of 2019 decreased by 33% to $122 million,
      compared to the first quarter of 2018, mainly due to lower volumes and
      lower pricing, resulting partly from the June 2018 launch of a
      ready-to-dilute bendamustine hydrochloride by Eagle Pharmaceuticals, Inc.
    </p>
    <p>
      <b>ProAir</b> revenues in our North America segment in the first quarter
      of 2019 decreased by 55% to $59 million, compared to the first quarter
      of 2018, mainly due to lower volumes and lower net pricing. In January
      2019, we launched our own ProAir authorized generic in the United
      States, following the launch of a generic version of Ventolin<sup>&#174;</sup>
      HFA, another albuterol inhaler. Revenues from our ProAir HFA authorized
      generic are included in &quot;generic products&quot; above.
    </p>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>QVAR</b> revenues in our North America segment in the first quarter
      of 2019 decreased by 41% to $64 million, compared to the first quarter
      of 2018. The decrease in sales in the first quarter of 2019 was mainly
      due to higher than normal volumes during the first quarter of 2018 in
      connection with the launch of QVAR<sup>&#174;</sup> RediHaler&#8482; and lower
      net pricing.
    </p>
    <p>
      <b>AJOVY</b> revenues in our North America segment in the first quarter
      of 2019 were $20 million. AJOVY was approved by the FDA and launched in
      the United States in September 2018 for the preventive treatment of
      migraine in adults.
    </p>
    <p>
      <b>AUSTEDO</b> revenues in our North America segment in the first
      quarter of 2019 were $74 million, compared to $30 million in the first
      quarter of 2018.
    </p>
    <p>
      <b>Anda</b> revenues in our North America segment increased by 14% to
      $379 million in the first quarter of 2019, compared to the first quarter
      of 2018 mainly due to higher volumes.
    </p>
    <p>
      <b>North America Gross Profit</b>
    </p>
    <p>
      Gross profit from our North America segment in the first quarter of 2019
      was $1,039 million, a decrease of 26% compared to $1,403 million in the
      first quarter of 2018. The decrease was mainly due to lower revenues
      from COPAXONE, as well as a decline in sales of certain other specialty
      products and generic products, partially offset by higher sales of
      AUSTEDO and AJOVY.
    </p>
    <p>
      Gross profit margin for our North America segment in the first quarter
      of 2019 decreased to 50.8%, compared to 55.5% in the first quarter of
      2018. The decrease was mainly due to lower revenues from COPAXONE and
      certain other specialty products, partially offset by generic products
      and Anda.
    </p>
    <p>
      <b>North America Profit</b>
    </p>
    <p>
      Profit from our North America segment in the first quarter of 2019 was
      $498 million, a decrease of 46% compared to $915 million in the first
      quarter of 2018. The decrease was mainly due to lower revenues from
      COPAXONE, a decline in sales of certain other specialty products and
      generic products and lower other income, partially offset by cost
      reductions and efficiency measures as part of the restructuring plan.
    </p>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Europe Segment</b>
    </p>
    <p>
      Our Europe segment includes the European Union and certain other
      European countries.
    </p>
    <p>
      The following table presents revenues, expenses and profit for our
      Europe segment for the three months ended March 31, 2019 and 2018:
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-size: 8pt; font-family: Times New Roman">
      <tr>
        <td>

        </td>
        <td colspan="8">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="middle" colspan="8" style="text-align: center; padding-left: 0.0px">
          <b>Three months ended March 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" colspan="4" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2019</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" colspan="3" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2018</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" colspan="8" style="text-align: center; padding-left: 0.0px">
          <b>(U.S.$ in millions / % of Segment Revenues)</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Revenues
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1,264
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          100%
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1,442
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          100%
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Gross profit
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          730
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          57.8%
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          792
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          55.0%
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          R&amp;D expenses
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          66
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          5.2%
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          73
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          5.1%
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          S&amp;M expenses
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          215
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          17.0%
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          250
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          17.4%
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          G&amp;A expenses
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          48
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          3.8%
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          91
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          6.3%
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Other income
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          (1)
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#167;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          1
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#167;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Segment profit
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          403
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          31.9%
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          377
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          26.1%
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      Revenues from our Europe segment in the first quarter of 2019 were
      $1,264 million, a decrease of 12% or $178 million, compared to the first
      quarter of 2018. In local currency terms, revenues decreased by 5%,
      mainly due to a decline in COPAXONE revenues due to the entry of
      competing glatiramer acetate products, the termination of the PGT joint
      venture and the sale of our women&#8217;s health business, partially offset by
      new generic product launches.
    </p>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Revenues by Major Products and Activities</b>
    </p>
    <p>
      The following table presents revenues for our Europe segment by major
      products and activities for the three months ended March 31, 2019 and
      2018:
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-size: 8pt; font-family: Times New Roman">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="5">

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          <b>Europe</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="5" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Three months ended</b><br><b>March 31,</b>
          </p>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-bottom: 2.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Percentage</b><br><b>Change</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2019</b>
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2018</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2018-2019</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="5" style="text-align: center; padding-left: 0.0px">
          <b>(U.S.$ in millions)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Generic products
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          919
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          997
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (8%)
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          COPAXONE
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          114
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          153
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (26%)
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Respiratory products
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          91
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          113
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (19%)
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Other
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          140
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          179
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (22%)
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Total
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1,264
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1,442
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (12%)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      <b>Generic products</b> revenues in our Europe segment in the first
      quarter of 2019, including OTC products, decreased by 8% to $919
      million, compared to the first quarter of 2018. In local currency terms,
      revenues were flat compared to the first quarter of 2018, mainly due to
      the loss of revenues from the termination of the PGT joint venture,
      partially offset by new generic product launches.
    </p>
    <p>
      <b>COPAXONE</b> revenues in our Europe segment in the first quarter of
      2019 decreased by 26% to $114 million, compared to the first quarter of
      2018. In local currency terms, revenues decreased by 20%, mainly due to
      price reductions resulting from the entry of competing glatiramer
      acetate products.
    </p>
    <p>
      <b>Respiratory products</b> revenues in our Europe segment in the first
      quarter of 2019 decreased by 19% to $91 million, compared to the first
      quarter of 2018. In local currency terms, revenues decreased by 13%,
      mainly due to lower volumes in the U.K.
    </p>
    <p>
      <b>Europe Gross Profit</b>
    </p>
    <p>
      Gross profit from our Europe segment in the first quarter of 2019 was
      $730 million, a decrease of 8% compared to $792 million in the first
      quarter of 2018. The decrease was mainly due to a decline in COPAXONE
      revenues, the loss of revenues resulting from the sale of our women&#8217;s
      health business and the impact of currency fluctuations, partially
      offset by new generic product launches and lower cost of goods sold.
    </p>
    <p>
      Gross profit margin for our Europe segment in the first quarter of 2019
      increased to 57.8%, compared to 55.0% in the first quarter of 2018. The
      increase was mainly due to the termination of the PGT joint venture.
    </p>
    <p>
      <b>Europe Profit</b>
    </p>
    <p>
      Profit from our Europe segment in the first quarter of 2019 was $403
      million, an increase of 7% compared to $377 million in the first quarter
      of 2018. The increase was mainly due to lower cost of goods sold related
      to the termination of the PGT joint venture and cost reductions and
      efficiency measures as part of the restructuring plan.
    </p>
    <p>
      <b>International Markets Segment</b>
    </p>
    <p>
      Our International Markets segment includes all countries other than
      those in our North America and Europe segments. The key markets in this
      segment are Israel, Japan and Russia.
    </p>
    <p>
      The following table presents revenues, expenses and profit for our
      International Markets segment for the three months ended March 31, 2019
      and 2018:
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-size: 8pt; font-family: Times New Roman">
      <tr>
        <td>

        </td>
        <td colspan="8">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="middle" colspan="8" style="text-align: center; padding-left: 0.0px">
          <b>Three months ended March 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" colspan="4" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2019</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" colspan="3" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2018</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" colspan="8" style="text-align: center; padding-left: 0.0px">
          <b>(U.S.$ in millions / % of Segment Revenues)</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Revenues
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          668
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          100%
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          750
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          100%
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Gross profit
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          269
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          40.3%
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          313
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          41.8%
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          R&amp;D expenses
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          22
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          3.3%
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          24
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          3.2%
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          S&amp;M expenses
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          115
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          17.2%
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          134
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          17.9%
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          G&amp;A expenses
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          36
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          5.3%
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          41
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          5.5%
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Other income
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          (0)
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#167;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          (8)
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          (1.1%)
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Segment profit
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          97
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          14.5%
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          122
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          16.3%
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      Revenues from our International Markets segment in the first quarter of
      2019 were $668 million, a decrease of $82 million, or 11%, compared to
      the first quarter of 2018. In local currency terms, revenues decreased
      by 3% compared to the first quarter of 2018, mainly due to lower sales
      in Japan, partially offset by higher sales in Russia.
    </p>
    <p>
      <b>Revenues by Major Products and Activities</b>
    </p>
    <p>
      The following table presents revenues for our International Markets
      segment by major products and activities for the three months ended
      March 31, 2019 and 2018:
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-size: 8pt; font-family: Times New Roman">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="5">

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          <b>International Markets</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="5" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Three months ended</b><br><b>March 31,</b>
          </p>
        </td>
        <td>

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px; padding-bottom: 2.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Percentage</b><br><b>Change</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2019</b>
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2018</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2018-2019</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="5" style="text-align: center; padding-left: 0.0px">
          <b>(U.S.$ in millions)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Generic products
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          441
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          488
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (10%)
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          COPAXONE
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          13
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          16
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (18%)
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Distribution
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          151
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          153
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (1%)
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Other
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          62
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          93
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (33%)
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Total
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          668
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          750
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (11%)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      <b>Generic products</b> revenues in our International Markets segment in
      the first quarter of 2019, which include OTC products, decreased by 10%
      to $441 million, compared to the first quarter of 2018. In local
      currency terms, revenues decreased by 1%, mainly due to lower sales in
      Japan resulting from regulatory pricing reductions and generic
      competition to off-patent products, partially offset by higher sales in
      Russia.
    </p>
    <p>
      <b>COPAXONE</b> revenues in our International Markets segment in the
      first quarter of 2019 decreased by 18% to $13 million, compared to the
      first quarter of 2018. In local currency terms, revenues increased by 3%.
    </p>
    <p>
      <b>Distribution</b> revenues in our International Markets segment in the
      first quarter of 2019 decreased by 1% to $151 million, compared to the
      first quarter of 2018. In local currency terms, revenues increased by 4%.
    </p>
    <p>
      <b>International Markets Gross Profit</b>
    </p>
    <p>
      Gross profit from our International Markets segment in the first quarter
      of 2019 was $269 million, a decrease of 14% compared to $313 million in
      the first quarter of 2018.
    </p>
    <p>
      Gross profit margin for our International Markets segment in the first
      quarter of 2019 decreased to 40.3%, compared to 41.8% in the first
      quarter of 2018. The decrease was mainly due to lower sales in Japan,
      partially offset by higher sales in Russia.
    </p>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>International Markets Profit</b>
    </p>
    <p>
      Profit from our International Markets segment in the first quarter of
      2019 was $97 million, a decrease of 20% compared to $122 million in the
      first quarter of 2018. The decrease was mainly due to lower sales in
      Japan resulting from regulatory pricing reductions and generic
      competition to off-patent products, partially offset by higher sales in
      Russia and cost reductions and efficiency measures as part of the
      restructuring plan.
    </p>
    <p>
      <b>Other Activities</b>
    </p>
    <p>
      We have other sources of revenues, primarily the sale of APIs to third
      parties, certain contract manufacturing services and an out-licensing
      platform offering a portfolio of products to other pharmaceutical
      companies through our affiliate Medis. Our other activities are not
      included in our North America, Europe or International Markets segments
      described above.
    </p>
    <p>
      Our<b> revenues</b> from other activities in the first quarter of 2019
      were $317 million a decrease of 7% compared to the first quarter of
      2018. In local currency terms, revenues decreased by 5%.
    </p>
    <p>
      <b>API sales to third parties</b> in the first quarter of 2019 were $187
      million, an increase of 4% compared to the first quarter of 2018. In
      local currency terms, revenues increased by 5%.
    </p>
    <p>
      <u><b>Conference Call</b></u>
    </p>
    <p>
      Teva will host a conference call and live webcast along with a slide
      presentation on Thursday, May 2, 2019 at 8:00 a.m. ET to discuss its
      first quarter 2019 results and overall business environment. A question
      &amp; answer session will follow.
    </p>
    <p>
      United States 1 (866) 966-1396
    </p>
    <p>
      International +44 (0) 2071 928000
    </p>
    <p>
      Israel 1 (809) 203-624
    </p>
    <p>
      For a list of other international toll-free numbers, click here.
    </p>
    <p>
      Passcode: <b>9470199</b>
    </p>
    <p>
      A live webcast of the call will also be available on Teva's website at:
      ir.tevapharm.com. Please log in at least 10 minutes prior to the
      conference call in order to download the applicable software.
    </p>
    <p>
      Following the conclusion of the call, a replay of the webcast will be
      available within 24 hours on the Company's website. The replay can also
      be accessed until August 30, 2019, 9:00 a.m. ET by calling United States
      1 (866) 331-1332 or International +44 (0) 3333009785; passcode: <b>9470199.</b>
    </p>
    <p>
      <u><b>About Teva</b></u>
    </p>
    <p>
      Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) has been
      developing and producing medicines to improve people&#8217;s lives for more
      than a century. We are a global leader in generic and specialty
      medicines with a portfolio consisting of over 35,000 products in nearly
      every therapeutic area. Around 200 million people around the world take
      a Teva medicine every day, and are served by one of the largest and most
      complex supply chains in the pharmaceutical industry. Along with our
      established presence in generics, we have significant innovative
      research and operations supporting our growing portfolio of specialty
      and biopharmaceutical products. Learn more at <u>http://www.tevapharm.com</u>
    </p>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      Some amounts in this press release may not add up due to rounding. All
      percentages have been calculated using unrounded amounts.
    </p>
    <p>
      <b>Non-GAAP Financial Measures</b>
    </p>
    <p>
      This press release contains certain financial information that differs
      from what is reported under accounting principles generally accepted in
      the United States (&quot;GAAP&quot;). These non-GAAP financial measures,
      including, but not limited to, non-GAAP EPS, non-GAAP operating income,
      non-GAAP gross profit, non-GAAP gross profit margin, EBITDA, non-GAAP
      financial expenses, non-GAAP income taxes, non-GAAP net income and
      non-GAAP diluted EPS are presented in order to facilitates investors'
      understanding of our business. We utilize certain non-GAAP financial
      measures to evaluate performance, in conjunction with other performance
      metrics. The following are examples of how we utilize the non-GAAP
      measures: our management and board of directors use the non-GAAP
      measures to evaluate our operational performance, to compare against
      work plans and budgets, and ultimately to evaluate the performance of
      management; our annual budgets are prepared on a non-GAAP basis; and
      senior management&#8217;s annual compensation is derived, in part, using these
      non-GAAP measures. See the attached tables for a reconciliation of the
      GAAP results to the adjusted non-GAAP figures. Investors should consider
      non-GAAP financial measures in addition to, and not as replacements for,
      or superior to, measures of financial performance prepared in accordance
      with GAAP. We are not providing forward looking guidance for GAAP
      reported financial measures or a quantitative reconciliation of
      forward-looking non-GAAP financial measures to the most directly
      comparable GAAP measure because we are unable to predict with reasonable
      certainty the ultimate outcome of certain significant items without
      unreasonable effort.
    </p>
    <p>
      <b>Cautionary Note Regarding Forward-Looking Statements</b>
    </p>
    <p>
      This press release contains forward-looking statements within the
      meaning of the Private Securities Litigation Reform Act of 1995, which
      are based on management&#8217;s current beliefs and expectations and are
      subject to substantial risks and uncertainties, both known and unknown,
      that could cause our future results, performance or achievements to
      differ significantly from that expressed or implied by such
      forward-looking statements. Important factors that could cause or
      contribute to such differences include risks relating to:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        our ability to successfully compete in the marketplace, including:
        that we are substantially dependent on our generic products;
        competition for our specialty products, especially COPAXONE<sup>&#174;</sup>,
        our leading medicine, which faces competition from existing and
        potential additional generic versions and orally-administered
        alternatives; the uncertainty of commercial success of AJOVY<sup>&#174;</sup>
        or AUSTEDO<sup>&#174;</sup>; competition from companies with greater
        resources and capabilities; efforts of pharmaceutical companies to
        limit the use of generics, including through legislation and
        regulations; consolidation of our customer base and commercial
        alliances among our customers; the increase in the number of
        competitors targeting generic opportunities and seeking U.S. market
        exclusivity for generic versions of significant products; price
        erosion relating to our products, both from competing products and
        increased regulation; delays in launches of new products and our
        ability to achieve expected results from investments in our product
        pipeline; our ability to take advantage of high-value opportunities;
        the difficulty and expense of obtaining licenses to proprietary
        technologies; and the effectiveness of our patents and other measures
        to protect our intellectual property rights;
      </li>
    </ul>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <ul>
      <li style="margin-bottom: 10.0px">
        our substantial indebtedness, which may limit our ability to incur
        additional indebtedness, engage in additional transactions or make new
        investments, may result in a further downgrade of our credit ratings;
        and our inability to raise debt or borrow funds in amounts or on terms
        that are favorable to us;
      </li>
      <li style="margin-bottom: 10.0px">
        our business and operations in general, including: failure to
        effectively execute our restructuring plan announced in December 2017;
        uncertainties related to, and failure to achieve, the potential
        benefits and success of our senior management team and organizational
        structure; harm to our pipeline of future products due to the ongoing
        review of our R&amp;D programs; our ability to develop and commercialize
        additional pharmaceutical products; potential additional adverse
        consequences following our resolution with the U.S. government of our
        FCPA investigation; compliance with sanctions and other trade control
        laws; manufacturing or quality control problems, which may damage our
        reputation for quality production and require costly remediation;
        interruptions in our supply chain; disruptions of our or third party
        information technology systems or breaches of our data security; the
        failure to recruit or retain key personnel; variations in intellectual
        property laws that may adversely affect our ability to manufacture our
        products; challenges associated with conducting business globally,
        including adverse effects of political or economic instability, major
        hostilities or terrorism; significant sales to a limited number of
        customers in our U.S. market; our ability to successfully bid for
        suitable acquisition targets or licensing opportunities, or to
        consummate and integrate acquisitions; and our prospects and
        opportunities for growth if we sell assets ;
      </li>
      <li style="margin-bottom: 10.0px">
        compliance, regulatory and litigation matters, including: costs and
        delays resulting from the extensive governmental regulation to which
        we are subject; the effects of reforms in healthcare regulation and
        reductions in pharmaceutical pricing, reimbursement and coverage;
        increased legal and regulatory action in connection with public
        concern over the abuse of opioid medications in the U.S.; governmental
        investigations into selling and marketing practices; potential
        liability for patent infringement; product liability claims; increased
        government scrutiny of our patent settlement agreements; failure to
        comply with complex Medicare and Medicaid reporting and payment
        obligations; and environmental risks;
      </li>
      <li style="margin-bottom: 10.0px">
        other financial and economic risks, including: our exposure to
        currency fluctuations and restrictions as well as credit risks;
        potential impairments of our intangible assets; potential significant
        increases in tax liabilities; and the effect on our overall effective
        tax rate of the termination or expiration of governmental programs or
        tax benefits, or of a change in our business;
      </li>
    </ul>
    <p>
      and other factors discussed in this press release, in our Quarterly
      Report on Form 10-Q for the first quarter of 2019 and in our Annual
      Report on Form 10-K for the year ended December 31, 2018, including in
      the sections captioned &quot;Risk Factors&#8221; and &#8220;Forward Looking Statements.&#8221;
      Forward-looking statements speak only as of the date on which they are
      made, and we assume no obligation to update or revise any
      forward-looking statements or other information contained herein,
      whether as a result of new information, future events or otherwise. You
      are cautioned not to put undue reliance on these forward-looking
      statements.
    </p>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-size: 8pt; font-family: Times New Roman">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" colspan="7" style="text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>Consolidated Statements of Income</b></u>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="7" style="text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>(U.S. dollars in millions, except share and per share data)</u>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="3" style="text-align: center; padding-left: 0.0px">
          <b>Three months ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="3" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>March 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2019</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2018</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>(Unaudited)</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="top" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>(Unaudited)</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Net revenues</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          4,295
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          5,065
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          <b>Cost of sales</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          2,440
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          2,750
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Gross profit</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1,856
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          2,315
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Research and development expenses</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          261
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          317
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Selling and marketing expenses</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          648
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          738
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>General and administrative expenses</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          292
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          329
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Intangible assets impairment</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          469
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          206
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Goodwill impairment</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          180
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Other asset impairments, restructuring and other items</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          501
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Legal settlements and loss contingencies</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          57
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (1,278)
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          <b>Other income</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          (6)
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          (203)
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Operating profit</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          134
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1,525
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          <b>Financial expenses &#8211; net</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          218
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          271
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Income (loss) before income taxes</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (84)
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1,254
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Income taxes</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          9
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          46
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          <b>Share in losses of associated companies- net</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          4
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          74
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Net income (loss)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (97)
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1,134
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          <b>Net income attributable to non-controlling interests</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          8
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          14
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          <b>Net income (loss) attributable to Teva</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          (105)
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          1,120
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          <b>Dividends on preferred shares</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          -
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          65
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          <b>Net income (loss) attributable to Teva's ordinary shareholders</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          (105)
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          1,055
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          <b>Earnings (loss) per share attributable to ordinary shareholders:</b>
        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          <b>Basic ($)</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          (0.10)
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          1.04
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          <b>Diluted ($)</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          (0.10)
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          1.03
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          <b>Weighted average number of shares (in millions):</b>
        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          <b>Basic</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          1,090
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          1,017
        </td>
      </tr>
      <tr>
        <td valign="top" style="border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="top" style="border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>Diluted</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          1,090
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          1,020
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          <b>Non-GAAP net income attributable to ordinary shareholders:*</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          654
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          954
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          <b>Non-GAAP net income attributable to ordinary shareholders for
          diluted earnings per share:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          654
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          954
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          <b>Non-GAAP earnings per share attributable to ordinary
          shareholders:*</b>
        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          <b>Basic ($)</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          0.60
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          0.94
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          <b>Diluted ($)</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          0.60
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          0.94
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          <b>Non-GAAP average number of shares (in millions):</b>
        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          <b>Basic</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          1,090
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          1,017
        </td>
      </tr>
      <tr>
        <td valign="top" style="border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="top" style="border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>Diluted</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          1,093
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          1,020
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          * See reconciliation attached.
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-size: 8pt; font-family: Times New Roman">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" colspan="5" style="text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>Condensed Consolidated Balance Sheets</b></u>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="5" style="text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>(U.S. dollars in millions)</u>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="5" style="text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>(Unaudited)</b></u>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px">
          <b>March 31,</b>
        </td>
        <td>

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px">
          <b>December 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2019</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2018</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>ASSETS</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Current assets:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Cash and cash equivalents
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1,973
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1,782
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Trade receivables
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          5,108
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          5,822
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Inventories
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          4,782
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          4,731
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Prepaid expenses
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          969
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          899
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Other current assets
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          438
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          468
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Assets held for sale
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          162
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          92
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Total current assets</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          13,431
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          13,794
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Deferred income taxes</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          351
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          368
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Other non-current assets</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          756
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          731
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Property, plant and equipment, net</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          6,785
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          6,868
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Operating lease right-of-use assets</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          517
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          -
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Identifiable intangible assets, net</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          13,191
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          14,005
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          <b>Goodwill</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          24,822
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          24,917
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          <b>Total assets</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          59,854
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          60,683
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>LIABILITIES &amp; EQUITY</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Current liabilities:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Short-term debt
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          2,790
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          2,216
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Sales reserves and allowances
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          6,200
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          6,711
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Trade payables
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1,763
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1,853
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Employee-related obligations
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          633
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          870
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Accrued expenses
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1,869
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1,868
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Other current liabilities
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          773
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          804
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Total current liabilities</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          14,028
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          14,322
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Long-term liabilities:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Deferred income taxes
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          2,079
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          2,140
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Other taxes and long-term liabilities
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1,669
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1,727
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Senior notes and loans
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          25,834
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          26,700
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Operating Lease Liabilities
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          424
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          -
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Total long-term liabilities</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          30,005
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          30,567
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Equity:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Teva shareholders&#8217; equity
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          14,732
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          14,707
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Non-controlling interests
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          1,089
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          1,087
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          <b>Total equity</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          15,821
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          15,794
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          <b>Total liabilities and equity</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          59,854
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          60,683
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-size: 8pt; font-family: Times New Roman">
      <tr>
        <td colspan="7">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="7" style="text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>Condensed Consolidated Cash Flow</b></u>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="7" style="text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>(U.S. Dollars in millions)</u>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="5" style="text-align: center; padding-left: 0.0px">
          <b>Three months ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="5" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>March 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2019</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2018</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="2" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>Unaudited</b>
        </td>
        <td>

        </td>
        <td valign="top" colspan="2" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>Unaudited</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Operating activities:</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Net income (loss)</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (97
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1,134
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Net change in operating assets and liabilities</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (805
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (592
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Items not involving cash flow</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1,014
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          954
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Net cash provided by operating activities</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          112
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1,496
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Net cash provided by investing activities</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          272
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1,039
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Net cash used in financing activities</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (189
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (2,091
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Translation adjustment on cash and cash equivalents</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (4
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          11
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Net change in cash and cash equivalents</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          191
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          455
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Balance of cash and cash equivalents at beginning of period</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1,782
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          963
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          <b>Balance of cash and cash equivalents at end of period</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          1,973
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          1,418
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-size: 8pt; font-family: Times New Roman">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="27">

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">

        </td>
        <td>

        </td>
        <td valign="top" colspan="27" style="text-align: center; padding-left: 0.0px">
          <b>Three Months Ended March 31, 2019</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="27" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>U.S. $ and shares in millions (except per share amounts)</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          GAAP
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="top" colspan="25" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          Excluded for non GAAP measurement
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="top" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          Non GAAP
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: right; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Amortization of
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Acquisition,
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          Costs related to
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: right; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          purchased intangible
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          Legal settlements and
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          Impairment of
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          integration and
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Restructuring
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          regulatory actions
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Equity
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Contingent
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          Gain on sale
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          Other non
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Other
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Corresponding
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          Unusual tax
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: right; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          assets
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          loss contingencies
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          long-lived assets
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          related expenses
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          costs
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          taken in facilities
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          compensation
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          consideration
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          of business
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          GAAP items
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          items
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          tax effect
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          item*
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          COGS
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          2,440
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          248
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          4
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          7
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          35
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          2,146
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          R&amp;D
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          261
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          6
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          0
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          255
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          S&amp;M
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          648
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          35
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          10
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          602
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          G&amp;A
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          292
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          12
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          0
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          280
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Other income
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (6)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          0
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (6)
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Legal settlements and loss contingencies
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          57
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          57
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          -
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Other assets impairments, restructuring and other items
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          20
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          2
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          32
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (71)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          19
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          -
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Intangible assets impairment
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          469
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          469
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          -
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Financial expenses
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          218
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (2)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          220
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Income taxes
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          9
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (55)
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (61)
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          125
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Share in losses of associated companies &#8211; net
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          4
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          4
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Net income attributable to non-controlling interests
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-bottom: 2.0px; padding-right: 0.0px; white-space: nowrap">
          8
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          (8)
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-bottom: 2.0px; padding-right: 0.0px; white-space: nowrap">
          16
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" colspan="3" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Total reconciled items
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          283
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          57
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          489
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          2
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          32
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          4
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          34
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          (71)
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          0
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          54
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          (10)
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          (55)
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          (61)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          EPS - Basic
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (0.10)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          0.70
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          0.60
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          EPS - Diluted
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (0.10)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          0.70
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          0.60
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="9" style="text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
    </table>
    </div>
    <p>
      * Interest disallowance as a result of the U.S. Tax Cuts and Jobs Act.
    </p>
    <p>
      The non-GAAP diluted weighted average number of shares was 1,093 million
      for the three months ended March 31, 2019.
    </p>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-size: 8pt; font-family: Times New Roman">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="27">

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">

        </td>
        <td>

        </td>
        <td valign="top" colspan="27" style="text-align: center; padding-left: 0.0px">
          <b>Three Months Ended March 31, 2018</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="27" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>U.S. $ and shares in millions (except per share amounts)</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          GAAP
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="top" colspan="23" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          Excluded for non GAAP measurement
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="top" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          Non GAAP
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: right; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Amortization of
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Acquisition,
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Costs related to
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: right; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          purchased intangible
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          Legal settlements and
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Impairment of
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          integration and
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Restructuring
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          regulatory actions taken
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Equity
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Contingent
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          Other non
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Other
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Corresponding
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: right; padding-left: 0.0px">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          assets
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          loss contingencies
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          long-lived assets
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          Other R&amp;D expenses
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          related expenses
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          costs
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          in facilities
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          compensation
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          consideration
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          GAAP items
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          items
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          tax effect
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          COGS
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          2,750
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          264
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          6
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          32
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          2,447
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          R&amp;D
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          317
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          22
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          5
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          289
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          S&amp;M
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          738
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          46
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          9
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          682
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          G&amp;A
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          329
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          10
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (3)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          322
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Other income
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (203)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (93)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (110)
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Legal settlements and loss contingencies
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (1,278)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (1,278)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          -
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Other assets impairments, restructuring and other items
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          501
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          226
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          2
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          247
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          8
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          18
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          -
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Intangible assets impairment
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          206
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          206
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          -
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Goodwill impairment
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          180
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          180
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          -
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Financial expenses
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          271
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          68
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          203
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Income taxes
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          46
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (165)
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          211
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Share in losses of associated companies &#8211; net
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          74
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          94
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (20)
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Net income attributable to non-controlling interests
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-bottom: 2.0px; padding-right: 0.0px; white-space: nowrap">
          14
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          (8)
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-bottom: 2.0px; padding-right: 0.0px; white-space: nowrap">
          22
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Total reconciled items
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          310
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          (1,278)
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          612
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          22
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          2
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          247
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          1
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          30
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          8
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          (44)
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          154
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          (165)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          EPS - Basic
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1.04
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (0.10)
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          0.94
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          EPS - Diluted
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1.03
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (0.09)
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          0.94
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      The non-GAAP diluted weighted average number of shares was 1,020 million
      for the three months ended March 31, 2018.
    </p>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-size: 8pt; font-family: Times New Roman">
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" colspan="23" style="text-align: center; padding-left: 0.0px">
          <b>Segment Information</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" colspan="7" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>North America</b>
        </td>
        <td>

        </td>
        <td valign="top" colspan="6" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>Europe</b>
        </td>
        <td>

        </td>
        <td valign="top" colspan="7" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>International Markets</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" colspan="7" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>Three months ended March 31,</b>
        </td>
        <td>

        </td>
        <td valign="top" colspan="6" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>Three months ended March 31,</b>
        </td>
        <td>

        </td>
        <td valign="top" colspan="7" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>Three months ended March 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2019</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2018</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2019</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2018</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2019</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2018</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" colspan="7" style="text-align: center; padding-left: 0.0px">
          <b>(U.S. $ in millions)</b>
        </td>
        <td>

        </td>
        <td valign="top" colspan="6" style="text-align: center; padding-left: 0.0px">
          <b>(U.S. $ in millions)</b>
        </td>
        <td>

        </td>
        <td valign="top" colspan="7" style="text-align: center; padding-left: 0.0px">
          <b>(U.S. $ in millions)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Revenues
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          2,047
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          2,531
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1,264
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1,442
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          668
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          750
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Gross profit
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1,039
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1,403
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          730
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          792
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          269
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          313
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          R&amp;D expenses
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          165
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          188
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          66
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          73
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          22
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          24
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          S&amp;M expenses
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          268
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          276
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          215
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          250
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          115
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          134
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          G&amp;A expenses
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          112
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          126
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          48
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          91
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          36
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          41
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Other (income) loss
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          (4
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          (102
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          (1
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          1
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          (0
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          (8
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Segment profit
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          498
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          915
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          403
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-bottom: 4.0px; padding-right: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          377
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          97
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          122
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-size: 8pt; font-family: Times New Roman">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" colspan="9" style="text-align: center; padding-left: 0.0px">
          <b>Reconciliation of our segment profit</b>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="9" style="text-align: center; padding-left: 0.0px">
          <b>to consolidated income before income taxes</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="7" style="text-align: center; padding-left: 0.0px">
          <b>Three months ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="7" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>March 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2019</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2018</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="7" style="text-align: center; padding-left: 0.0px">
          <b>(U.S.$ in millions)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          North America profit
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          498
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          915
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Europe profit
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          403
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          377
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          International Markets profit
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          97
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          122
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Total segment profit
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          998
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1,414
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Profit of other activities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          21
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          21
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1,019
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1,435
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Amounts not allocated to segments:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Amortization
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          283
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          310
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Other asset impairments, restructuring and other items
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          501
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Goodwill impairment
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          180
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Intangible asset impairments
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          469
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          206
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Gain from divestitures, net of divestitures related costs
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="2" style="text-align: left; padding-left: 0.0px">
          &#167;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (93
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Other R&amp;D expenses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="2" style="text-align: left; padding-left: 0.0px">
          &#167;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          22
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Costs related to regulatory actions taken in facilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          4
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Legal settlements and loss contingencies
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          57
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (1,278
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Other unallocated amounts
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          70
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          61
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Consolidated operating income
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          134
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          1,525
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Financial expenses - net
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          218
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          271
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Consolidated income (loss) before income taxes
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          (84
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          1,254
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-size: 8pt; font-family: Times New Roman">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" colspan="9" style="text-align: center; padding-left: 0.0px">
          <b>Revenues by Activity and Geographical Area</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" colspan="9" style="text-align: center; padding-left: 0.0px">
          (Unaudited)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="7" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>Three months ended</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="7" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>March 31,</b>
        </td>
        <td>

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px; padding-bottom: 2.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Percentage</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Change</b>
          </p>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2019</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2018</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-bottom: 2.0px; padding-right: 0.0px; white-space: nowrap">
          <b>2018-2019</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="7" style="text-align: center; padding-left: 0.0px">
          <b>(U.S.$ in millions)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>North America segment</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Generic products
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          $
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          966
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          $
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1,088
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (11%)
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          COPAXONE
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          208
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          476
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (56%)
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          BENDEKA / TREANDA
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          122
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          181
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (33%)
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          ProAir
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          59
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          130
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (55%)
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          QVAR
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          64
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          107
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (41%)
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          AJOVY
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          20
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          -
        </td>
        <td>

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px">
          NA
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          AUSTEDO
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          74
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          30
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          151%
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Anda
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          379
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          331
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          14%
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Other
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          155
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          188
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          (18%)
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Total
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2,047</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2,531</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>(19%)</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="7" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>Three months ended</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="7" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>March 31,</b>
        </td>
        <td>

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px; padding-bottom: 2.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Percentage</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Change</b>
          </p>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2019</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2018</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-bottom: 2.0px; padding-right: 0.0px; white-space: nowrap">
          <b>2018-2019</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="7" style="text-align: center; padding-left: 0.0px">
          <b>(U.S.$ in millions)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Europe segment</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Generic medicines
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          $
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          919
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          $
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          997
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (8%)
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          COPAXONE
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          114
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          153
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (26%)
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Respiratory products
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          91
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          113
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (19%)
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Other
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          140
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          179
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          (22%)
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          <b>Total</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>1,264</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>1,442</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>(12%)</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="7" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>Three months ended</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="7" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>March 31,</b>
        </td>
        <td>

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px; padding-bottom: 2.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Percentage</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Change</b>
          </p>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2019</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2018</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-bottom: 2.0px; padding-right: 0.0px; white-space: nowrap">
          <b>2018-2019</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="7" style="text-align: center; padding-left: 0.0px">
          <b>(U.S.$ in millions)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>International Markets segment</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Generics medicines
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          $
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          441
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          $
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          488
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (10%)
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          COPAXONE
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          13
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          16
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (18%)
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Distribution
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          151
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          153
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (1%)
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Other
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          62
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          93
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          (33%)
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          <b>Total</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>668</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>750</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>(11%)</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-size: 8pt; font-family: Times New Roman">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="7">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="7" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>Free cash flow reconciliation</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="7" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>Three months ended March 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2019</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          <b>2018</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="7" style="text-align: center; padding-left: 0.0px">
          <b>(U.S. $ in millions)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Net cash provided by operating activities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          112
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          1,496
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Beneficial interest collected in exchange for securitized trade
          receivables, included in investing activities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          362
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          444
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          capital expenditures
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (125
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          (163
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Proceeds from sale of property, plant and equipment, intangible
          assets and companies
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          11
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 1.0pt">
          117
        </td>
        <td style="border-bottom-style: solid; border-bottom-color: black; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Free cash flow
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          360
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap; border-bottom-color: black; border-bottom-width: 2.25pt">
          1,894
        </td>
        <td style="border-bottom-style: double; border-bottom-color: black; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      CONTACT:<br><b>IR Contacts</b><br><b>United States</b><br>Kevin C. Mannix<br>(215)
      591-8912
    </p>
    <p>
      <b>Israel</b><br>Ran Meir<br>972 (3) 9267516<br><br><b>PR Contacts</b><br><b>United
      States</b><br>Kelley Dougherty<br>(973) 658-0237<br><br><b>Israel</b><br>Yonatan
      Beker<br>972 (54) 888 5898
    </p>
  </body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
