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Revenue from contracts with customers | 3 Months Ended
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Mar. 31, 2022
Revenue from contracts with customers | NOTE 3 – Revenue from contracts with customers: Disaggregation of revenue The following table disaggregates Teva’s revenues by major revenue streams. For additional information on disaggregation of revenues, see note 15.
|  | Three months ended March 31, 2022 |
|  | North America |  |  | Europe |  |  | International Markets |  |  | Other activities |  |  | Total |
|  | (U.S. $ in millions) |
Sale of goods |  |  | 1,377 |  |  |  | 1,134 |  |  |  | 445 |  |  |  | 180 |  |  |  | 3,136 |
Licensing arrangements |  |  | 21 |  |  |  | 12 |  |  |  | 4 |  |  |  | 1 |  |  |  | 38 |
Distribution |  |  | 342 |  |  |  | § |  |  |  | 16 |  |  |  | — |  |  |  | 358 |
Other |  |  | (2 | ) |  |  | 9 |  |  |  | 27 |  |  |  | 95 |  |  |  | 129 |
|  | $ | 1,737 |  |  | $ | 1,156 |  |  | $ | 492 |  |  | $ | 275 |  |  | $ | 3,661 |
§ Represents an amount less than $0.5 million.
|  | Three months ended March 31, 2021 |
|  | North America |  |  | Europe |  |  | International Markets |  |  | Other activities |  |  | Total |
|  | (U.S. $ in millions) |
Sale of goods |  |  | 1,668 |  |  |  | 1,178 |  |  |  | 440 |  |  |  | 177 |  |  |  | 3,463 |
Licensing arrangements |  |  | 32 |  |  |  | 14 |  |  |  | 3 |  |  |  | 1 |  |  |  | 49 |
Distribution |  |  | 289 |  |  |  | § |  |  |  | 19 |  |  |  | — |  |  |  | 308 |
Other |  |  | § |  |  |  | 22 |  |  |  | 28 |  |  |  | 111 |  |  |  | 162 |
|  | $ | 1,989 |  |  | $ | 1,214 |  |  | $ | 490 |  |  | $ | 289 |  |  | $ | 3,982 |
§ Represents an amount less than $0.5 million. Variable consideration Variable consideration mainly includes sales reserves and allowances (“SR&A”), comprised of rebates (including Medicaid and other governmental program discounts), chargebacks, returns and other promotional (including shelf stock adjustments) items. Provisions for prompt payment discounts are netted against accounts receivables. The Company recognizes these provisions at the time of sale and adjusts them if the actual amounts differ from the estimated provisions. SR&A to U.S. customers comprised approximately 73% of the Company’s total SR&A as of March 31, 2022, with the remaining balance primarily in Canada and Germany. The changes in SR&A for third-party sales for the three months ended March 31, 2022 and 2021 were as follows:
|  | Sales Reserves and Allowances |  |  |  |
|  | Reserves included in Accounts Receivable, net |  |  | Rebates |  |  | Medicaid and other governmental allowances |  |  | Chargebacks |  |  | Returns |  |  | Other |  |  | Total reserves included in SR&A |  |  | Total |
|  | (U.S. $ in millions) |
Balance at December 31, 2021 |  | $ | 68 |  |  | $ | 1,655 |  |  | $ | 854 |  |  | $ | 1,085 |  |  | $ | 535 |  |  | $ | 112 |  |  | $ | 4,241 |  |  | $ | 4,309 |
Provisions related to sales made in current year |  |  | 82 |  |  |  | 928 |  |  |  | 198 |  |  |  | 1,814 |  |  |  | 58 |  |  |  | 90 |  |  |  | 3,088 |  |  |  | 3,170 |
Provisions related to sales made in prior periods |  |  | — |  |  |  | (90 | ) |  |  | 26 |  |  |  | (8 | ) |  |  | (14 | ) |  |  | (1 | ) |  |  | (87 | ) |  |  | (87 | )
Credits and payments |  |  | (88 | ) |  |  | (1,037 | ) |  |  | (270 | ) |  |  | (1,940 | ) |  |  | (110 | ) |  |  | (73 | ) |  |  | (3,430 | ) |  |  | (3,518 | )
Translation differences |  |  | — |  |  |  | (3 | ) |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | (1 | ) |  |  | (5 | ) |  |  | (5 | )
Balance at March 31, 2022 |  | $ | 62 |  |  |  | 1,453 |  |  | $ | 807 |  |  | $ | 951 |  |  | $ | 469 |  |  | $ | 127 |  |  | $ | 3,807 |  |  | $ | 3,869 |
|  | Reserves included in Accounts Receivable, net |  |  | Rebates |  |  | Medicaid and other governmental allowances |  |  | Chargebacks |  |  | Returns |  |  | Other |  |  | Total reserves included in SR&A |  |  | Total |
|  | (U.S.$ in millions) |
Balance at December 31, 2020 |  | $ | 80 |  |  | $ | 2,054 |  |  | $ | 828 |  |  | $ | 1,108 |  |  | $ | 686 |  |  | $ | 148 |  |  | $ | 4,824 |  |  | $ | 4,904 |
Provisions related to sales made in current year |  |  | 100 |  |  |  | 1,126 |  |  |  | 164 |  |  |  | 2,043 |  |  |  | 76 |  |  |  | 23 |  |  |  | 3,432 |  |  |  | 3,532 |
Provisions related to sales made in prior periods |  |  | — |  |  |  | (55 | ) |  |  | (11 | ) |  |  | 6 |  |  |  | (40 | ) |  |  | (17 | ) |  |  | (117 | ) |  |  | (117 | )
Credits and payments |  |  | (102 | ) |  |  | (1,210 | ) |  |  | (188 | ) |  |  | (1,987 | ) |  |  | (101 | ) |  |  | (40 | ) |  |  | (3,526 | ) |  |  | (3,628 | )
Translation differences |  |  | — |  |  |  | (17 | ) |  |  | (4 | ) |  |  | (3 | ) |  |  | (3 | ) |  |  | (2 | ) |  |  | (29 | ) |  |  | (29 | )
Balance at March 31, 2021 |  | $ | 78 |  |  | $ | 1,898 |  |  | $ | 789 |  |  | $ | 1,167 |  |  | $ | 618 |  |  | $ | 112 |  |  | $ | 4,584 |  |  | $ | 4,662 |

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 + Details
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