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Debt obligations (Tables)

12 Months Ended

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.

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Tabular disclosure of maturity and sinking fund requirement for long-term debt.

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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.

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