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v3.23.3

Debt obligations (Tables) | 9 Months Ended
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Sep. 30, 2023
Schedule of Short-term Debt |
a. | Short-term debt:
. |  | Interest rate as of September 30, 2023 |  |  |  |  |  | September 30, |  |  | December 31, |
|  | Maturity |  |  | 2023 |  |  | 2022 |
|  |  |  |  |  |  |  | (U.S. $ in millions) |
Convertible senior debentures |  |  | 0.25 | % |  |  | 2026 |  |  |  | 23 |  |  |  | 23 |
Revolving Credit Facility |  |  | 6.95 | % |  |  |  |  |  |  | 500 |  |  |  | — |
Current maturities of long-term liabilities |  |  |  |  |  |  |  |  |  |  | 956 |  |  |  | 2,086 |
Total short-term debt |  |  |  |  |  |  |  |  |  | $ | 1,479 |  |  | $ | 2,109 |
Schedule of Senior Notes and Loans |
b. | Long-term debt:
|  | Interest rate as of September 30, 2023 |  |  | Maturity |  |  | September 30, 2023 |  |  | December 31, 2022 |
|  |  |  |  |  |  |  | (U.S. $ in millions) |
Senior notes EUR 1,500 million |  |  | 1.13 | % |  |  | 2024 |  |  |  | 663 |  |  |  | 670 |
Sustainability-linked senior notes EUR 1,500 million (6)(*) |  |  | 4.38 | % |  |  | 2030 |  |  |  | 1,586 |  |  |  | 1,606 |
Senior notes EUR 1,300 million (9) |  |  | 1.25 | % |  |  | 2023 |  |  |  | — |  |  |  | 633 |
Sustainability-linked senior notes EUR 1,100 million (7)(*) |  |  | 3.75 | % |  |  | 2027 |  |  |  | 1,163 |  |  |  | 1,177 |
Senior notes EUR 1,000 million (5) |  |  | 6.00 | % |  |  | 2025 |  |  |  | 434 |  |  |  | 1,070 |
Senior notes EUR 900 million (5) |  |  | 4.50 | % |  |  | 2025 |  |  |  | 525 |  |  |  | 963 |
Sustainability-linked senior notes EUR 800 million (1)(*) |  |  | 7.38 | % |  |  | 2029 |  |  |  | 846 |  |  |  | — |
Senior notes EUR 750 million |  |  | 1.63 | % |  |  | 2028 |  |  |  | 789 |  |  |  | 800 |
Senior notes EUR 700 million |  |  | 1.88 | % |  |  | 2027 |  |  |  | 739 |  |  |  | 748 |
Sustainability-linked senior notes EUR 500 million (2)(*) |  |  | 7.88 | % |  |  | 2031 |  |  |  | 529 |  |  |  | — |
Senior notes USD 3,500 million (5) |  |  | 3.15 | % |  |  | 2026 |  |  |  | 3,374 |  |  |  | 3,496 |
Senior notes USD 3,000 million (5)(10) |  |  | 2.80 | % |  |  | 2023 |  |  |  | — |  |  |  | 1,453 |
Senior notes USD 2,000 million |  |  | 4.10 | % |  |  | 2046 |  |  |  | 1,986 |  |  |  | 1,986 |
Senior notes USD 1,250 million (5) |  |  | 6.00 | % |  |  | 2024 |  |  |  | 956 |  |  |  | 1,250 |
Senior notes USD 1,250 million |  |  | 6.75 | % |  |  | 2028 |  |  |  | 1,250 |  |  |  | 1,250 |
Senior notes USD 1,000 million (5) |  |  | 7.13 | % |  |  | 2025 |  |  |  | 427 |  |  |  | 1,000 |
Sustainability-linked senior notes USD 1,000 million (7)(*) |  |  | 4.75 | % |  |  | 2027 |  |  |  | 1,000 |  |  |  | 1,000 |
Sustainability-linked senior notes USD 1,000 million (6)(*) |  |  | 5.13 | % |  |  | 2029 |  |  |  | 1,000 |  |  |  | 1,000 |
Senior notes USD 789 million |  |  | 6.15 | % |  |  | 2036 |  |  |  | 783 |  |  |  | 783 |
Sustainability-linked senior notes USD 600 million (3)(*) |  |  | 7.88 | % |  |  | 2029 |  |  |  | 600 |  |  |  | — |
Sustainability-linked senior notes USD 500 million (4)(*) |  |  | 8.13 | % |  |  | 2031 |  |  |  | 500 |  |  |  | — |
Senior notes CHF 350 million |  |  | 1.00 | % |  |  | 2025 |  |  |  | 383 |  |  |  | 382 |
Total senior notes |  |  |  |  |  |  |  |  |  |  | 19,533 |  |  |  | 21,266 |
Other long-term debt |  |  |  |  |  |  |  |  |  |  | 1 |  |  |  | 1 |
Less current maturities |  |  |  |  |  |  |  |  |  |  | (956 | ) |  |  | (2,086 | )
Less debt issuance costs (8) |  |  |  |  |  |  |  |  |  |  | (83 | ) |  |  | (78 | )
Total senior notes and loans |  |  |  |  |  |  |  |  |  | $ | 18,495 |  |  | $ | 19,103 |
(1) | In March 2023, Teva issued sustainability-linked senior notes in an aggregate principal amount of 800 million euro bearing 7.38 % annual interest and due September 2029. If Teva fails to achieve certain sustainability performance targets, the interest rate shall increase by 0.100 %- 0.300 % per annum, from and including September 15, 2026.
(2) | In March 2023, Teva issued sustainability-linked senior notes in an aggregate principal amount of 500 million euro bearing 7.88 % annual interest and due September 2031. If Teva fails to achieve certain sustainability performance targets, the interest rate shall increase by 0.100 %- 0.300 % per annum, from and including September 15, 2026.
(3) | In March 2023, Teva issued sustainability-linked senior notes in an aggregate principal amount of $ 600 million bearing 7.88 % annual interest and due September 2029. If Teva fails to achieve certain sustainability performance targets, the interest rate shall increase by 0.100 %- 0.300 % per annum, from and including September 15, 2026.
(4) | In March 2023, Teva issued sustainability-linked senior notes in an aggregate principal amount of $500 million bearing 8.13% annual interest and due September 2031. If Teva fails to achieve certain sustainability performance targets, the interest rate shall increase by 0.100%-0.300% per annum, from and including September 15, 2026.
(5) | In March 2023, Teva consummated a cash tender offer and extinguished $631 million aggregate principal amount of its 1,000 million euro 6% senior notes due in 2025; $432 million aggregate principal amount of its 900 million euro 4.5% senior notes due in 2025; $574 million aggregate principal amount of its $1,000 million 7.13% senior notes due in 2025; $454 million aggregate principal amount of its $3,000 million 2.8% senior notes due in 2023; $293 million aggregate principal amount of its $1,250 million 6% senior notes due in 2024 and $122 million aggregate principal amount of its $3,500 million 3.15% senior notes due in 2026.
(6) | 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.
(7) | 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.
(8) | Debt issuance costs as of September 30, 2023 include $26 million in connection with the issuance of the sustainability-linked senior notes in March 2023, partially offset by $6 million acceleration of issuance costs related to the cash tender offer.
(9) | In March 2023, Teva repaid $646 million of its 1.25% senior notes at maturity.
(10) | In July 2023, Teva repaid $1,000 million of its 2.8% senior notes at maturity.
* | Interest rate adjustments and a potential one-time premium payment related to the sustainability-linked bonds are treated as bifurcated embedded derivatives. See note 8c.

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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. + References No definition available. + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 + Details
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