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Legal Settlements and Loss Contingencies | 6 Months Ended
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Jun. 30, 2021
Legal Settlements and Loss Contingencies | NOTE 9 – Legal settlements and loss contingencies: In the second quarter of 2021, Teva recorded an expense of $6 million in legal settlements and loss contingencies, compared to $13 million in the second quarter of 2020. The expense in the second quarter of 2020 was mainly due to an increase in a provision for settlement of certain product liability claims in the United States and other minor provisions, partially offset by proceeds received following a settlement of the FCPA derivative proceedings in Israel. In the first six months of 2021, Teva recorded an expense of $110 million in legal settlements and loss contingencies, compared to income of $12 million in the first six months of 2020. The expense in the first six months of 2021 was mainly due to the provision for the carvedilol patent litigation (see note 10). The income in the first six months of 2020 was mainly due to proceeds received following a settlement of the FCPA derivative proceedings in Israel and settlement of an action brought against the sellers of Auden McKenzie (an acquisition made by Actavis Generics), partially offset by an increase in a provision for settlement of certain products liability claims in the United States and other minor provisions. As of June 30, 2021 and December 31, 2020, Teva’s provision for legal settlements and loss contingencies recorded under accrued expenses and other taxes and long-term liabilities was $1,737 million and 1,625 million, respectively.

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- Definition The entire disclosure for legal proceedings, legal contingencies, litigation, regulatory and environmental matters and other contingencies. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -URI http://asc.fasb.org/topic&trid=2127136 + Details
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