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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Income Before Income Taxes

a. Income (loss) before income taxes:

		Year ended December 31,
		2020				2019				2018
		(U.S. $ in millions)
Parent Company and its Israeli subsidiaries		$	947			$	542			$	1,022
Non-Israeli subsidiaries			(5,353	)			(1,807	)			(3,618	)
		$	(4,406	)		$	(1,265	)		$	(2,596	)

Schedule of the Provision for Income Taxes

b. Income taxes:

		Year ended December 31,
		2020				2019				2018
		(U.S. $ in millions)
In Israel		$	60			$	107			$	131
Outside Israel			(228	)			(385	)			(326	)
		$	(168	)		$	(278	)		$	(195	)
Current		$	182			$	885			$	700
Deferred			(350	)			(1,163	)			(895	)
		$	(168	)		$	(278	)		$	(195	)

Accumulated Other Comprehensive Income/(Loss) (Net of Tax)

		2020				2019				2018
		(U.S. $ in millions)
Income (Loss) before income taxes		$	(4,406	)		$	(1,265	)		$	(2,596	)
Statutory tax rate in Israel			23.0	%			23.0	%			23.0	%
Theoretical provision for income taxes		$	(1,013	)		$	(291	)		$	(597	)
Increase (decrease) in the provision for income taxes due to:
The Parent Company and its Israeli subsidiaries - Mainly tax benefits arising from reduced tax rates under benefit programs			(183	)			(44	)			(134	)
Non-Israeli subsidiaries, including impairments *			1,369				(115	)			381
U.S. Tax Cuts and Jobs Act effect											97
Increase (decrease) in other uncertain tax positions—net			(341	)			172				58
Effective consolidated income taxes		$	(168	)		$	(278	)		$	(195	)

* In 2020 and 2018, income before income taxes includes goodwill impairment in non-Israeli subsidiaries that did not have a corresponding tax effect.

Schedule of Deferred Income Taxes

c. Deferred income taxes:

		December 31,
		2020				2019
		(U.S. $ in millions)
Long-term deferred tax assets (liabilities), net:
Inventory related		$	212			$	144
Sales reserves and allowances			173				198
Provision for legal settlements			235				260
Intangible assets (*)			(1,064	)			(1,733	)
Carryforward losses and deductions and credits (**)			2,176				1,689
Property, plant and equipment			(142	)			(170	)
Deferred interest			527				648
Provisions for employee related obligations			107				106
Other			54				122
			2,278				1,264
Valuation allowance—in respect of carryforward losses and deductions that may not be utilized			(2,547	)			(1,974	)
		$	(269	)		$	(710	)

(*) The decrease in deferred tax liability is mainly due to impairment and amortization.

(**) The amounts are shown after reduction for unrecognized tax benefits of $ 63 million and $115 million as of December 31, 2020 and 2019, respectively.

This amount represents the tax effect of gross carryforward losses and deductions with the following expirations: 2021-2022—$79 million; 2023-2029—$663 million; 2030 and thereafter—$171 million. The remaining balance—$1,327 million—can be utilized with no expiration date.

Schedule of Deferred Tax Assets and Liabilities By Report Caption

The deferred income taxes are reflected in the balance sheets among:

		December 31,
		2020				2019
		(U.S. $ in millions)
Long-term assets—deferred income taxes			695				386
Long-term liabilities—deferred income taxes			(964	)			(1,096	)
		$	(269	)		$	(710	)

Schedule of Unrecognized Tax Benefits

d. Uncertain tax positions:

The following table summarizes the activity of Teva’s gross unrecognized tax benefits:

		Year ended December 31,
		2020				2019				2018
		(U.S. $ in millions)
Balance at the beginning of the year		$	1,223			$	1,072			$	1,034
Increase (decrease) related to prior year tax positions, net			(238	)			23				76
Increase related to current year tax positions			10				246				11
Decrease related to settlements with tax authorities and lapse of applicable statutes of limitations			(105	)			(118	)			(49	)
Other			(2	)			—				—
Balance at the end of the year		$	888			$	1,223			$	1,072

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