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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Income Before Income Taxes

a. Income (loss) before income taxes:

		Year ended December 31,
		2022				2021				2020
		(U.S. $ in millions)
Parent Company and its Israeli subsidiaries		$	(119	)		$	126			$	947
Non-Israeli subsidiaries			(2,946	)			532				(5,353	)
		$	(3,065	)		$	658			$	(4,406	)

Schedule of the Provision for Income Taxes

b. Income taxes:

		Year ended December 31,
		2022				2021				2020
		(U.S. $ in millions)
In Israel		$	33			$	124			$	60
Outside Israel			(671	)			87				(228	)
		$	(638	)		$	211			$	(168	)
Current		$	430			$	270			$	182
Deferred			(1,068	)			(59	)			(350	)
		$	(638	)		$	211			$	(168	)

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

		Year ended December 31,
		2022				2021				2020
		(U.S. $ in millions)
Income (loss) before income taxes		$	(3,065)			$	658			$	(4,406)
Statutory tax rate in Israel			23%				23%				23%
Theoretical provision for income taxes		$	(705)			$	151			$	(1,013)
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			15				(12)				(153)
Mainly nondeductible items and prior year tax			35				20				(30)
Non-Israeli subsidiaries, including impairments (*)			924				117				1,369
Worthless stock deduction (**)			(909)				—				—
Increase (decrease) in other uncertain tax positions—net			2				(65)				(341)
Effective consolidated income taxes		$	(638)			$	211			$	(168)

* In 2022 and 2020, loss before income taxes includes goodwill impairment in non-Israeli subsidiaries that did not have a corresponding tax effect.

** In 2022, one of Teva’s U.S. subsidiaries was determined to be insolvent for tax purposes (i.e., its liabilities exceeded the fair market value of its assets), mainly in light of its accumulated operational losses. Consequently, Teva will recognize on its 2022 tax return, a worthless stock deduction of approximately $4.2 billion, with related tax benefit of approximately $909 million.

Schedule of Deferred Income Taxes

c. Deferred income taxes:

		December 31,
		2022				2021
		(U.S. $ in millions)
Deferred tax assets (liabilities), net:
Inventory related		$	125			$	104
Sales reserves and allowances			89				136
Provision for legal settlements			703				360
Intangible assets (*)			(567	)			(814	)
Carryforward losses and deductions and credits (**)			2,850				2,093
Property, plant and equipment			(238	)			(215	)
Deferred interest			800				617
Provisions for employee related obligations			82				95
Other			133				159
			3,977				2,535
Valuation allowance—in respect of carryforward losses and deductions that may not be utilized			(3,072	)			(2,723	)
		$	905			$	(188	)

(*) 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 $1 million and $10 million as of December 31, 2022 and 2021, respectively. 

Schedule of Deferred Tax Assets and Liabilities By Report Caption

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

		December 31,
		2022				2021
		(U.S. $ in millions)
Long-term assets—deferred income taxes			1,453				596
Long-term liabilities—deferred income taxes			(548	)			(784	)
		$	905			$	(188	)

Schedule of Unrecognized Tax Benefits

d. Uncertain tax positions:

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

		Year ended December 31,
		2022				2021				2020
		(U.S. $ in millions)
Balance at the beginning of the year		$	672			$	888			$	1,223
Increase (decrease) related to prior year tax positions, net			(46	)			(106	)			(238	)
Increase related to current year tax positions			42				7				10
Decrease related to settlements with tax authorities and lapse of applicable statutes of limitations			(31	)			(115	)			(105	)
Other			1				(2	)			(2	)
Balance at the end of the year		$	638			$	672			$	888

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