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Selected Quarterly Financial Data (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2019
Selected Quarterly Financial Data
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.
Summary of the impact of the revision on net revenues and cost of sales
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