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Equity (Tables) | 12 Months Ended
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Dec. 31, 2021
Summary of Stock Option Activity | A summary of the status of the options granted by Teva as of December 31, 2021, 2020 and 2019, and changes during the years ended on those dates, is presented below (the number of options represents ordinary shares exercisable in respect thereof).
|  | Year ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | Number (in thousands) |  |  | Weighted average exercise price |  |  | Number (in thousands) |  |  | Weighted average exercise price |  |  | Number (in thousands) |  |  | Weighted average exercise price |
Balance outstanding at beginning of year |  |  | 35,234 |  |  | $ | 37.27 |  |  |  | 40,064 |  |  | $ | 37.90 |  |  |  | 48,393 |  |  | $ | 38.62 |
Changes during the year: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Exercised |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (11 | ) |  |  | 16.99 |
Forfeited |  |  | (3,644 | ) |  |  | 36.09 |  |  |  | (3,610 | ) |  |  | 40.24 |  |  |  | (8,318 | ) |  |  | 42.12 |
Expired |  |  | (2,575 | ) |  |  | 42.40 |  |  |  | (1,220 | ) |  |  | 49.35 |  |  |  | — |  |  |  | — |
Balance outstanding at end of year |  |  | 29,015 |  |  |  | 36.96 |  |  |  | 35,234 |  |  |  | 37.27 |  |  |  | 40,064 |  |  |  | 37.90 |
Balance exercisable at end of year |  |  | 26,989 |  |  |  | 38.30 |  |  |  | 28,556 |  |  |  | 40.56 |  |  |  | 26,601 |  |  |  | 43.41 |
No options were granted during 2019, 2020 and 2021.
Schedule of Ordinary Shares Issued Upon Outstanding Options | The following tables summarize information as of December 31, 2021 regarding the number of ordinary shares issuable upon (1) outstanding options and (2) vested options:
(1) Number of ordinary shares issuable upon exercise of outstanding options |
Range of exercise prices |  | Balance at end of period (in thousands) |  |  | Weighted average exercise price |  |  | Weighted average remaining life |
|  | Number of shares |  |  | $ |  |  | Years |
Lower than $15.01 |  |  | 592 |  |  |  | 11.40 |  |  |  | 5.84 |
$15.01 - $25.00 |  |  | 8,762 |  |  |  | 18.95 |  |  |  | 6.12 |
$25.01 - $35.00 |  |  | 6,364 |  |  |  | 34.61 |  |  |  | 5.16 |
$35.01 - $45.00 |  |  | 2,679 |  |  |  | 39.83 |  |  |  | 0.96 |
$45.01 - $55.00 |  |  | 6,801 |  |  |  | 51.01 |  |  |  | 3.18 |
$55.01 - $65.00 |  |  | 3,817 |  |  |  | 59.15 |  |  |  | 3.33 |
Total |  |  | 29,015 |  |  |  | 36.96 |  |  |  | 4.37 |
Schedule of Ordinary Shares Issued Upon Vested Options |
(2) Number of ordinary shares issuable upon exercise of vested options |
Range of exercise prices |  | Balance at end of period (in thousands) |  |  | Weighted average exercise price |  |  | Weighted average remaining life |
|  | Number of shares |  |  | $ |  |  | Years |
Lower than $15.01 |  |  | 592 |  |  |  | 11.40 |  |  |  | 5.84 |
$15.01 - $25.00 |  |  | 6,736 |  |  |  | 18.90 |  |  |  | 6.11 |
$25.01 - $35.00 |  |  | 6,364 |  |  |  | 34.61 |  |  |  | 5.16 |
$35.01 - $45.00 |  |  | 2,679 |  |  |  | 39.83 |  |  |  | 0.96 |
$45.01 - $55.00 |  |  | 6,801 |  |  |  | 51.01 |  |  |  | 3.18 |
$55.01 - $65.00 |  |  | 3,817 |  |  |  | 59.15 |  |  |  | 3.33 |
Total |  |  | 26,989 |  |  |  | 38.30 |  |  |  | 4.24 |
Schedule of the Number of RSUs Issued and Outstanding | The following table summarizes information about the number of RSUs and PSUs granted and outstanding:
|  | Year ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | Number (in thousands) |  |  | Weighted average grant date fair value |  |  | Number (in thousands) |  |  | Weighted average grant date fair value |  |  | Number (in thousands) |  |  | Weighted average grant date fair value |
Balance outstanding at beginning of year |  |  | 20,720 |  |  | $ | 13.81 |  |  |  | 15,977 |  |  | $ | 16.49 |  |  |  | 10,403 |  |  | $ | 20.93 |
Granted |  |  | 12,748 |  |  |  | 10.42 |  |  |  | 10,848 |  |  |  | 11.42 |  |  |  | 9,303 |  |  |  | 15.36 |
Vested |  |  | (6,818 | ) |  |  | 15.60 |  |  |  | (4,324 | ) |  |  | 19.49 |  |  |  | (2,435 | ) |  |  | 30.24 |
Forfeited |  |  | (2,238 | ) |  |  | 12.18 |  |  |  | (1,781 | ) |  |  | 18.18 |  |  |  | (1,294 | ) |  |  | 18.74 |
Balance outstanding at end of year |  |  | 24,412 |  |  |  | 11.58 |  |  |  | 20,720 |  |  |  | 13.81 |  |  |  | 15,977 |  |  |  | 16.49 |
Summary of Company Expenses Compensation Costs Based on Grant Date Fair Value | The Company expenses compensation costs are based on the grant-date fair value. For the years ended December 31, 2021, 2020 and 2019, the Company recorded stock-based compensation costs as follows:
|  | Year ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | (U.S. $ in millions) |
Employee stock options |  | $ | 16 |  |  | $ | 30 |  |  | $ | 46 |
RSUs and PSUs |  |  | 103 |  |  |  | 99 |  |  |  | 73 |
Total stock-based compensation expense |  |  | 119 |  |  |  | 129 |  |  |  | 119 |
Tax effect on stock-based compensation expense |  |  | 12 |  |  |  | 14 |  |  |  | 14 |
Net effect |  | $ | 107 |  |  | $ | 115 |  |  | $ | 105 |
Accumulated Other Comprehensive Income/(Loss) (Net of Tax) | The components of accumulated other comprehensive loss attributable to Teva are presented in the table below:
|  | Net Unrealized Gains/(Losses) |  |  | Benefit Plans |  |  |  |
|  | Foreign currency translation adjustments |  |  | Available- for-sale securities |  |  | Derivative financial instruments |  |  | Actuarial gains/(losses) and prior service (costs)/credits |  |  | Total |
|  | (U.S. $ in millions) |
Balance as of January 1, 2019 |  | $ | (1,878 | ) |  | $ | 1 |  |  | $ | (504 | ) |  | $ | (78 | ) |  | $ | (2,459 | )
Other comprehensive income/(loss) before reclassifications |  |  | 100 |  |  |  | (1 | ) |  |  | 54 |  |  |  | (11 | ) |  |  | 142 |
Amounts reclassified to the statements of income |  |  | — |  |  |  | — |  |  |  | 30 |  |  |  | (10 | ) |  |  | 20 |
Net other comprehensive income/(loss) before tax |  |  | 100 |  |  |  | (1 | ) |  |  | 84 |  |  |  | (21 | ) |  |  | 162 |
Corresponding income tax |  |  | (16 | ) |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | (15 | )
Net other comprehensive income/(loss) after tax* |  |  | 84 |  |  |  | (1 | ) |  |  | 84 |  |  |  | (20 | ) |  |  | 147 |
Balance as of December 31, 2019 |  |  | (1,794 | ) |  |  | — |  |  |  | (420 | ) |  |  | (98 | ) |  |  | (2,312 | )
Other comprehensive income/(loss) before reclassifications |  |  | (190 | ) |  |  | — |  |  |  | 22 |  |  |  | (7 | ) |  |  | (175 | )
Amounts reclassified to the statements of income |  |  | — |  |  |  | — |  |  |  | 35 |  |  |  | (12 | ) |  |  | 23 |
Net other comprehensive income/(loss) before tax |  |  | (190 | ) |  |  | — |  |  |  | 57 |  |  |  | (19 | ) |  |  | (152 | )
Corresponding income tax |  |  | 65 |  |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | 66 |
Net other comprehensive income/(loss) after tax* |  |  | (125 | ) |  |  | — |  |  |  | 57 |  |  |  | (18 | ) |  |  | (86 | )
Balance as of December 31, 2020 |  |  | (1,919 | ) |  |  | — |  |  |  | (363 | ) |  |  | (117 | ) |  |  | (2,399 | )
Other comprehensive income/(loss) before reclassifications |  |  | (386 | ) |  |  | — |  |  |  | — |  |  |  | 18 |  |  |  | (368 | )
Amounts reclassified to the statements of income |  |  | — |  |  |  | — |  |  |  | 39 |  |  |  | 18 |  |  |  | 57 |
Net other comprehensive income/(loss) before tax |  |  | (386 | ) |  |  | — |  |  |  | 39 |  |  |  | 36 |  |  |  | (311 | )
Corresponding income tax |  |  | 31 |  |  |  | — |  |  |  | — |  |  |  | (4 | ) |  |  | 27 |
Net other comprehensive income/(loss) after tax* |  |  | (355 | ) |  |  | — |  |  |  | 39 |  |  |  | 32 |  |  |  | (283 | )
Balance as of December 31, 202 1 |  | $ | (2,274 | ) |  |  | — |  |  | $ | (324 | ) |  | $ | (85 | ) |  | $ | (2,683 | )
* | Amounts do not include foreign currency translation adjustments attributable to non-controlling interests of $107 million loss in 2021, $56 million gain in 2020 and $14 million gain in 2019.

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