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Legal Settlements and Loss Contingencies | 9 Months Ended
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Sep. 30, 2022
Legal Settlements and Loss Contingencies | NOTE 9 – Legal settlements and loss contingencies: In the third quarter of 2022, Teva recorded expenses of $195 million in legal settlements and loss contingencies, compared to $3 million in the third quarter of 2021. The expenses in the third quarter of 2022 were mainly related to an update of the estimated settlement provision recorded in connection with the remaining opioid cases, as well as an estimated provision recorded for the claims brought by attorneys general representing states and territories throughout the United States in the generic drug antitrust litigation. See note 10. In the first nine months of 2022, Teva recorded an expense of $2,048 million in legal settlements and loss contingencies, compared to an expense of $113 million in the first nine months of 2021. The expense in the first nine months of 2022 was mainly related to an update of the estimated settlement provision recorded in connection with the remaining opioid cases. The expense in the first nine months of 2021 was mainly due to the provision recorded for the carvedilol patent litigation. As of September 30, 2022 and December 31, 2021, Teva’s provision for legal settlements and loss contingencies recorded under accrued expenses and other taxes and long-term liabilities was $4,077 million and $2,710 million, respectively. In connection with Teva’s provision for legal settlements and loss contingencies as of December 31, 2021, related to the Ontario Teachers Securities Litigation, Teva also recognized an insurance receivable.

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- Definition The entire disclosure for legal proceedings, legal contingencies, litigation, regulatory and environmental matters and other contingencies. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -URI https://asc.fasb.org/topic&trid=2127136 + Details
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