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Leases | 12 Months Ended
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Dec. 31, 2021
Leases | NOTE 8—Leases: The components of operating lease cost for the years ended December 31, 2021, 2020 and 2019 were as follows:
|  | Year ended December 31, |  |  | Year ended December 31, |  |  | Year ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | (U.S. $ in millions) |  |  | (U.S. $ in millions) |  |  | (U.S. $ in millions) |
Operating lease cost: |  |  |  |  |  |  |  |  |  |  |  |
Fixed payments and variable payments that depend on an index or rate |  | $ | 135 |  |  | $ | 148 |  |  | $ | 166 |
Variable lease payments not included in the lease liability |  |  | 4 |  |  |  | 4 |  |  |  | 6 |
Short-term lease cost |  |  | 2 |  |  |  | 3 |  |  |  | 6 |
|  | $ | 141 |  |  | $ | 155 |  |  | $ | 178 |
Supplemental cash flow information related to operating leases was as follows:
|  | Year ended December 31, |  |  | Year ended December 31, |  |  | Year ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | (U.S. $ in millions) |  |  | (U.S. $ in millions) |  |  | (U.S. $ in millions) |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 143 |  |  | $ | 151 |  |  | $ | 169 |
Right-of-use assets obtained in exchange for lease obligations (non-cash): |  |  |  |  |  |  |  |  |  |  |  |
Operating leases |  | $ | 81 |  |  | $ | 211 |  |  | $ | 142 |
Supplemental balance sheet information related to operating leases was as follows:
|  | December 31, |  |  | December 31, |
|  | 2021 |  |  | 2020 |
|  | (U.S. $ in millions) |  |  | (U.S. $ in millions) |
Operating leases: |  |  |  |  |  |  |  |
Operating lease ROU assets |  | $ | 495 |  |  | $ | 559 |
Other current liabilities |  |  | 109 |  |  |  | 116 |
Operating lease liabilities |  |  | 416 |  |  |  | 479 |
Total operating lease liabilities |  | $ | 525 |  |  | $ | 595 |
|  | December 31, |  |  | December 31, |
|  | 2021 |  |  | 2020 |
Weighted average remaining lease term |  |  |  |  |  |  |  |
Operating leases |  |  | 7.3 years |  |  |  | 7.5 years |
Weighted average discount rate |  |  |  |  |  |  |  |
Operating leases |  |  | 5.4 | % |  |  | 5.2 | %
Maturities of operating lease liabilities were as follows:
|  | December 31, |
|  | 2021 |
|  | (U.S. $ in millions) |
2022 |  | $ | 133 |
2023 |  |  | 106 |
2024 |  |  | 81 |
2025 |  |  | 71 |
2026 and thereafter |  |  | 255 |
Total operating lease payments |  | $ | 646 |
Less: imputed interest |  |  | 121 |
Present value of lease liabilities |  | $ | 525 |
At the end of the third quarter of 2020, after obtaining the right to use the building, Teva began transitioning its corporate headquarters to a consolidated site in Tel-Aviv, Israel. Teva has an operating lease for the office space in Tel Aviv for an initial term of twelve and a half years, with an option for three extensions. Teva estimates that the reasonably certain holding period of the lease for accounting purposes is twelve and a half years. As of September 30, 2020, upon initial recognition, Teva booked $74 million as operating lease ROU assets and $66 million as operating lease liability. As of December 31, 2021, Teva’s total finance lease assets and finance lease liabilities were $32 million and $25 million, respectively. As of December 31, 2020, total finance lease assets and finance lease liabilities were $29 million and $21 million, respectively. The difference between those amounts is mainly due to prepaid payments.

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
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