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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Income Before Income Taxes

		Year ended December 31,
		2021				2020				2019
		(U.S. $ in millions)
Parent Company and its Israeli subsidiaries		$	126			$	947			$	542
Non-Israeli subsidiaries			532				(5,353	)			(1,807	)
		$	658			$	(4,406	)		$	(1,265	)

Schedule of the Provision for Income Taxes

b. Income taxes:

		Year ended December 31,
		2021				2020				2019
		(U.S. $ in millions)
In Israel		$	124			$	60			$	107
Outside Israel			87				(228	)			(385	)
		$	211			$	(168	)		$	(278	)
Current		$	270			$	182			$	885
Deferred			(59	)			(350	)			(1,163	)
		$	211			$	(168	)		$	(278	)

Accumulated Other Comprehensive Income/(Loss) (Net of Tax)

		2021				2020				2019
		(U.S. $ in millions)
Income (loss) before income taxes		$	658			$	(4,406	)		$	(1,265	)
Statutory tax rate in Israel			23	%			23	%			23	%
Theoretical provision for income taxes		$	151			$	(1,013	)		$	(291	)
Increase (decrease) in the provision for income taxes due to:
The Parent Company and its Israeli subsidiaries - Tax benefits arising from reduced tax rates under benefit programs			(12	)			(153	)			(77	)
Mainly nondeductible items and prior year tax			20				(30	)			33
Non-Israeli subsidiaries, including impairments (*)			117				1,369				(115	)
Increase (decrease) in other uncertain tax positions—net			(65	)			(341	)			172
Effective consolidated income taxes		$	211			$	(168	)		$	(278	)

(*) In 2020, income before income taxes includes goodwill impairment in non-Israeli subsidiaries that did not have a corresponding tax effect.

Schedule of Deferred Income Taxes

c. Deferred income taxes:

		December 31,
		2021				2020
		(U.S. $ in millions)
Deferred tax assets (liabilities), net:
Inventory related		$	104			$	212
Sales reserves and allowances			136				173
Provision for legal settlements			360				235
Intangible assets (*)			(814	)			(1,064	)
Carryforward losses and deductions and credits (**)			2,093				2,176
Property, plant and equipment			(215	)			(142	)
Deferred interest			617				527
Provisions for employee related obligations			95				107
Other			159				54
			2,535				2,278
Valuation allowance—in respect of carryforward losses and deductions that may not be utilized			(2,723	)			(2,547	)
		$	(188	)		$	(269	)

(*) The decrease in deferred tax liability is mainly due to impairment and amortization.

(**) The amounts are shown following a reduction for unrecognized tax benefits of $10 million and $63 million as of December 31, 2021 and 2020, respectively.

Schedule of Deferred Tax Assets and Liabilities By Report Caption

The deferred income taxes are reflected in the balance sheets among:

		December 31,
		2021				2020
		(U.S. $ in millions)
Long-term assets—deferred income taxes			596				695
Long-term liabilities—deferred income taxes			(784	)			(964	)
		$	(188	)		$	(269	)

Schedule of Unrecognized Tax Benefits

The following table summarizes the activity of Teva’s gross unrecognized tax benefits:

		Year ended December 31,
		2021				2020				2019
		(U.S. $ in millions)
Balance at the beginning of the year		$	888			$	1,223			$	1,072
Increase (decrease) related to prior year tax positions, net			(106	)			(238	)			23
Increase related to current year tax positions			7				10				246
Decrease related to settlements with tax authorities and lapse of applicable statutes of limitations			(115	)			(105	)			(118	)
Other			(2	)			(2	)			—
Balance at the end of the year		$	672			$	888			$	1,223

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