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Debt obligations (Tables) | 12 Months Ended
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Dec. 31, 2021
Schedule of Short-term Debt |
a. | Short-term debt:
|  |  |  |  |  |  |  | December 31, |
|  | Weighted average interest rate as of December 31, 2021 |  |  | Maturity |  |  | 2021 |  |  | 2020 |
|  |  |  |  |  |  |  | (U.S. $ in millions) |
Convertible debentures |  |  | 0.25 | % |  |  | 2026 |  |  |  | 23 |  |  |  | 514 |
Current maturities of long-term liabilities |  |  |  | 1,403 |  |  |  | 2,674 |
Total short term debt |  |  | $ | 1,426 |  |  | $ | 3,188 |
Schedule of Senior Notes and Loans |
|  | Weighted average interest rate as of December 31, 2021 |  |  | Maturity |  |  | December 31, 2021 |  |  | December 31, 2020 |
|  | % |  |  |  |  |  | (U.S. $ in millions) |
Senior notes EUR 1,500 million (6) |  |  | 1.13 | % |  |  | 2024 |  |  |  | 708 |  |  |  | 1,839 |
Sustainability-linked senior notes EUR 1,500 million (2)(*) |  |  | 4.38 | % |  |  | 2030 |  |  |  | 1,699 |  |  |  | — |
Senior notes EUR 1,300 million (6) |  |  | 1.25 | % |  |  | 2023 |  |  |  | 670 |  |  |  | 1,595 |
Sustainability-linked senior notes EUR 1,100 million (3)(*) |  |  | 3.75 | % |  |  | 2027 |  |  |  | 1,246 |  |  |  | — |
Senior notes EUR 1,000 million |  |  | 6.00 | % |  |  | 2025 |  |  |  | 1,134 |  |  |  | 1,230 |
Senior notes EUR 900 million |  |  | 4.50 | % |  |  | 2025 |  |  |  | 1,020 |  |  |  | 1,107 |
Senior notes EUR 750 million |  |  | 1.63 | % |  |  | 2028 |  |  |  | 844 |  |  |  | 916 |
Senior notes EUR 700 million (6) |  |  | 3.25 | % |  |  | 2022 |  |  |  | 307 |  |  |  | 861 |
Senior notes EUR 700 million |  |  | 1.88 | % |  |  | 2027 |  |  |  | 792 |  |  |  | 860 |
Senior notes USD 3,500 million |  |  | 3.15 | % |  |  | 2026 |  |  |  | 3,496 |  |  |  | 3,495 |
Senior notes USD 3,000 million (6) |  |  | 2.80 | % |  |  | 2023 |  |  |  | 1,453 |  |  |  | 2,996 |
Senior notes USD 2,000 million |  |  | 4.10 | % |  |  | 2046 |  |  |  | 1,986 |  |  |  | 1,986 |
Senior notes USD 1,475 million (1) |  |  | 2.20 | % |  |  | 2021 |  |  |  | — |  |  |  | 1,472 |
Senior notes USD 1,250 million |  |  | 6.00 | % |  |  | 2024 |  |  |  | 1,250 |  |  |  | 1,250 |
Senior notes USD 1,250 million |  |  | 6.75 | % |  |  | 2028 |  |  |  | 1,250 |  |  |  | 1,250 |
Senior notes USD 1,000 million |  |  | 7.13 | % |  |  | 2025 |  |  |  | 1,000 |  |  |  | 1,000 |
Sustainability-linked senior notes USD 1,000 million (4)(*) |  |  | 4.75 | % |  |  | 2027 |  |  |  | 1,000 |  |  |  | — |
Sustainability-linked senior notes USD 1,000 million (5)(*) |  |  | 5.13 | % |  |  | 2029 |  |  |  | 1,000 |  |  |  | — |
Senior notes USD 844 million (6) |  |  | 2.95 | % |  |  | 2022 |  |  |  | 715 |  |  |  | 853 |
Senior notes USD 789 million |  |  | 6.15 | % |  |  | 2036 |  |  |  | 783 |  |  |  | 783 |
|  | Weighted average interest rate as of December 31, 2021 |  |  | Maturity |  |  | December 31, 2021 |  |  | December 31, 2020 |
|  | % |  |  |  |  |  | (U.S. $ in millions) |
Senior notes USD 613 million (7) |  |  | 3.65 | % |  |  | 2021 |  |  |  | — |  |  |  | 616 |
Senior notes USD 588 million (7) |  |  | 3.65 | % |  |  | 2021 |  |  |  | — |  |  |  | 586 |
Senior notes CHF 350 million |  |  | 0.50 | % |  |  | 2022 |  |  |  | 382 |  |  |  | 397 |
Senior notes CHF 350 million |  |  | 1.00 | % |  |  | 2025 |  |  |  | 383 |  |  |  | 398 |
Total senior notes |  |  |  |  |  |  |  |  |  |  | 23,118 |  |  |  | 25,490 |
Other long-term debt |  |  |  |  |  |  |  |  |  |  | 2 |  |  |  | 1 |
Less current maturities |  |  |  |  |  |  |  |  |  |  | (1,403 | ) |  |  | (2,674 | )
Less debt issuance costs |  |  |  |  |  |  |  |  |  |  | (100 | ) |  |  | (86 | )
Total senior notes and loans |  |  |  |  |  |  |  |  |  | $ | 21,617 |  |  | $ | 22,731 |
(1) | In July 2021, Teva repaid $1,475 million of its 2.2% senior notes at maturity.
(2) | In November 2021, Teva issued sustainability-linked senior notes in an aggregate principal amount of 1,500 million euro bearing 4.38% annual interest and due May 2030. If Teva fails to achieve certain sustainability performance targets, the interest rate shall increase by 0.125%-0.375% per annum, from and including May 9, 2026.
(3) | In November 2021, Teva issued sustainability-linked senior notes in an aggregate principal amount of 1,100 million euro bearing 3.75% annual interest and due May 2027. If Teva fails to achieve certain sustainability performance targets, a one-time premium payment of 0.15%-0.45% out of the principal amount will be paid at maturity or upon earlier redemption, if such redemption is on or after May 9, 2026.
(4) | In November 2021, Teva issued sustainability-linked senior notes in an aggregate principal amount of $1,000 million bearing 4.75% annual interest and due May 2027. If Teva fails to achieve certain sustainability performance targets, a one-time premium payment of 0.15%-0.45% out of the principal amount will be paid at maturity or upon earlier redemption, if such redemption is on or after May 9, 2026.
(5) | In November 2021, Teva issued sustainability-linked senior notes in an aggregate principal amount of $1,000 million bearing 5.13% annual interest and due May 2029. If Teva fails to achieve certain sustainability performance targets, the interest rate shall increase by 0.125%-0.375% per annum, from and including May 9, 2026.
(6) | In November 2021, Teva consummated a cash tender offer and extinguished 873 million euro aggregate principal amount of its 1,500 million euro 1.13% senior notes due in October 2024; 708 million euro aggregate principal amount of its 1,300 million euro 1.25% senior notes due in March 2023; 428 million euro aggregate principal amount of its 700 million euro 3.25% senior notes due in April 2022; $1,546 million aggregate principal amount of its $3,000 million 2.8% senior notes due in July 2023; and $132 million aggregate principal amount of its $1,300 million 2.95% senior notes due in December 2022.
(7) | In November 2021, Teva repaid $613 million and $588 million of its 3.65% senior notes at maturity.
(8) | Debt issuance costs as of December 31, 2021 include $40 million in connection with the issuance of the sustainability-linked senior notes in November 2021.
* | Interest rate adjustments and a potential one-time premium payment related to the sustainability-linked bonds are treated as bifurcated embedded derivatives. See note 10c.
Required Annual Principal Payments of Long-term Debt, Excluding Debt Issuance Cost | As of December 31, 2021, the required annual principal payments of long-term debt (excluding debt discount and issuance costs and fair value hedge adjustments), including convertible senior debentures, starting from the year 2023, are as follows:
|  | December 31, 2021 |
|  | (U.S. $ in millions) |
2023 |  | $ | 2,124 |
2024 |  |  | 1,960 |
2025 |  |  | 3,535 |
2026 * |  |  | 3,523 |
2027 and thereafter |  |  | 10,626 |
|  | $ | 21,768 |
* | including $23 million convertible notes. See note 9a.

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- Definition A schedule of data and information pertaining to long-debt instruments or arrangements, excluding convertible debt, that includes identification, terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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- Definition Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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