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Selected Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2019
Selected Quarterly Financial Data (Unaudited)
NOTE 22 – Selected quarterly financial data (unaudited
):
The following table presents selected unaudited quarterly financial data for 201
9
 and 201
8
:
 
2019
 
 
4th quarter
 
 
3rd quarter
 
 
2nd quarter
 
 
1st quarter
 
 
(U.S $ in millions except per share amounts)
 
Net revenues *
 
 
4,468
 
 
 
4,093
 
 
 
4,177
 
 
 
4,149
 
Gross profit
 
 
1,958
 
 
 
1,830
 
 
 
1,893
 
 
 
1,856
 
Net income (loss)
 
 
75
 
 
 
(307
)
 
 
(671
)
 
 
(97
)
Net income (loss) attributable to Teva
 
 
110
 
 
 
(314
)
 
 
(689
)
 
 
(105
)
Net income (loss) attributable to ordinary shareholders
 
 
110
 
 
 
(314
)
 
 
(689
)
 
 
(105
)
Earnings per share attributable to ordinary shareholders:
 
 
 
 
 
 
 
 
 
 
 
 
Basic
 
 
0.10
 
 
 
(0.29
)
 
 
(0.63
)
 
 
(0.10
)
Diluted
 
 
0.10
 
 
 
(0.29
)
 
 
(0.63
)
 
 
(0.10
)
 
2018
 
 
4th quarter
 
 
3rd quarter
 
 
2nd quarter
 
 
1st quarter
 
 
(U.S $ in millions except per share amounts)
 
Net revenues *
 
 
4,419
 
 
 
4,385
 
 
 
4,552
 
 
 
4,916
 
Gross profit
 
 
1,971
 
 
 
1,977
 
 
 
2,033
 
 
 
2,315
 
Net income (loss)
 
 
(3,243
)
 
 
(197
)
 
 
(166
)
 
 
1,134
 
Net income (loss) attributable to Teva
 
 
(2,886
)
 
 
(208
)
 
 
(176
)
 
 
1,120
 
Net income (loss) attributable to ordinary shareholders
 
 
(2,940
)
 
 
(273
)
 
 
(241
)
 
 
1,055
 
Earnings per share attributable to ordinary shareholders:
 
 
 
 
 
 
 
 
 
 
 
 
Basic
 
 
(2.85
)
 
 
(0.27
)
 
 
(0.24
)
 
 
1.04
 
Diluted
 
 
(2.85
)
 
 
(0.27
)
 
 
(0.24
)
 
 
1.03
 
*
The data presented for prior periods have been revised to reflect a revision in the presentation of net revenues and cost of sales in the consolidated financial statements. See table below and not
e
1b.
The following table summarizes the impact of the revision on net revenues and cost of sales in the consolidated statement of income for the relevant periods:
 
 
 
Net revenues
 
 
Cost of sales
 
 
 
 
As reported
 
 
Adjustment
 
 
As revised
 
 
As reported
 
 
Adjustment
 
 
As revised
 
 
 
 
(U.S. $ in millions)
 
2018
 
 
Q1
 
 
 
5,065
 
 
 
(149
)
 
 
4,916
 
 
 
2,750
 
 
 
(149
)
 
 
2,601
 
 
Q2
 
 
 
4,701
 
 
 
(150
)
 
 
4,552
 
 
 
2,668
 
 
 
(150
)
 
 
2,518
 
 
Q3
 
 
 
4,529
 
 
 
(143
)
 
 
4,385
 
 
 
2,552
 
 
 
(143
)
 
 
2,409
 
 
Q4
 
 
 
4,559
 
 
 
(141
)
 
 
4,419
 
 
 
2,588
 
 
 
(141
)
 
 
2,447
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2019
 
 
Q1
 
 
 
4,295
 
 
 
(146
)
 
 
4,149
 
 
 
2,440
 
 
 
(146
)
 
 
2,293
 
 
Q2
 
 
 
4,337
 
 
 
(159
)
 
 
4,177
 
 
 
2,443
 
 
 
(159
)
 
 
2,284
 
 
Q3
 
 
 
4,264
 
 
 
(171
)
 
 
4,093
 
 
 
2,435
 
 
 
(171
)
 
 
2,264