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Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended
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Dec. 31, 2023
Summary of Company's Revised Unaudited Quarterly Financial Information | The following tables, which present unaudited quarterly financial data for 2023 and 2022, reflect such revision:
|  | Three months ended |
|  | December 31, 2023 |  |  | September 30, 2023 |  |  | June 30, 2023 |  |  | March 31, 2023 |
|  | U.S $ in millions (except per share amounts) |
Net revenues |  | $ | 4,457 |  |  |  | 3,850 |  |  |  | 3,878 |  |  |  | 3,661 |
Gross profit |  |  | 2,416 |  |  |  | 1,851 |  |  |  | 1,796 |  |  |  | 1,582 |
Net income (loss)* |  |  | 465 |  |  |  | 78 |  |  |  | (905 | ) |  |  | (253 | )
Net income (loss) attributable to Teva* |  |  | 461 |  |  |  | 70 |  |  |  | (871 | ) |  |  | (220 | )
Earnings (loss) per share attributable to ordinary shareholders: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic* |  | $ | 0.41 |  |  |  | 0.06 |  |  |  | (0.78 | ) |  |  | (0.20 | )
Diluted* |  | $ | 0.41 |  |  |  | 0.06 |  |  |  | (0.78 | ) |  |  | (0.20 | )
|  | Three months ended |
|  | December 31, 2022 |  |  | September 30, 2022 |  |  | June 30, 2022 |  |  | March 31, 2022 |
|  | U.S $ in millions (except per share amounts) |
Net revenues |  | $ | 3,884 |  |  |  | 3,595 |  |  |  | 3,786 |  |  |  | 3,661 |
Gross profit |  |  | 1,770 |  |  |  | 1,669 |  |  |  | 1,794 |  |  |  | 1,740 |
Net income (loss)* |  |  | (1,333 | ) |  |  | 63 |  |  |  | (278 | ) |  |  | (952 | )
Net income (loss) attributable to Teva* |  |  | (1,301 | ) |  |  | 61 |  |  |  | (251 | ) |  |  | (955 | )
Earnings (loss) per share attributable to ordinary shareholders: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic* |  | $ | (1.17 | ) |  |  | 0.05 |  |  |  | (0.23 | ) |  |  | (0.86 | )
Diluted* |  | $ | (1.17 | ) |  |  | 0.05 |  |  |  | (0.23 | ) |  |  | (0.86 | )
* | The data presented for the above quarterly periods (except for the three months ended March 31, 2022 and the three months ended December 31, 2023) have been revised to reflect a revision of the line items in the consolidated financial statements. See tables below and note 1b.
Summary of Restatement of Certain Line Items in the Income Statement | The tables below present the impact of the revision on the line items within the Company’s unaudited quarterly financial data for 2023 and 2022: Consolidated Statements of Income (loss)
|  | Three months ended |
|  | September 30, 2023 |  |  | June 30, 2023 |  |  | March 31, 2023 |
|  | As previously reported |  |  | Adjustment |  |  | As revised |  |  | As previously reported |  |  | Adjustment |  |  | As revised |  |  | As previously reported |  |  | Adjustment |  |  | As revised |
|  | U.S $ in millions (except per share amounts) |
Other asset impairments, restructuring and other items |  | $ | 46 |  |  |  | 11 |  |  |  | 57 |  |  | $ | 100 |  |  |  | 8 |  |  |  | 108 |  |  | $ | 96 |  |  |  | 15 |  |  |  | 110 |
Operating income (loss) |  |  | 355 |  |  |  | (11 | ) |  |  | 344 |  |  |  | (646 | ) |  |  | (8 | ) |  |  | (654 | ) |  |  | 2 |  |  |  | (15 | ) |  |  | (13 | )
Income (loss) before income taxes |  |  | 75 |  |  |  | (11 | ) |  |  | 64 |  |  |  | (914 | ) |  |  | (8 | ) |  |  | (923 | ) |  |  | (258 | ) |  |  | (15 | ) |  |  | (272 | )
Income taxes (benefit) |  |  | (12 | ) |  |  | § |  |  |  | (12 | ) |  |  | (16 | ) |  |  | § |  |  |  | (16 | ) |  |  | (19 | ) |  |  | § |  |  |  | (19 | )
Net income (loss) |  |  | 88 |  |  |  | (11 | ) |  |  | 78 |  |  |  | (898 | ) |  |  | (8 | ) |  |  | (905 | ) |  |  | (238 | ) |  |  | (15 | ) |  |  | (253 | )
Net income (loss) attributable to Teva |  |  | 80 |  |  |  | (11 | ) |  |  | 70 |  |  |  | (863 | ) |  |  | (8 | ) |  |  | (871 | ) |  |  | (205 | ) |  |  | (15 | ) |  |  | (220 | )
Earnings per share attributable to ordinary shareholders: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.07 |  |  |  | (0.01 | ) |  |  | 0.06 |  |  | $ | (0.77 | ) |  |  | (0.01 | ) |  |  | (0.78 | ) |  | $ | (0.18 | ) |  |  | (0.02 | ) |  |  | (0.20 | )
Diluted |  | $ | 0.07 |  |  |  | (0.01 | ) |  |  | 0.06 |  |  | $ | (0.77 | ) |  |  | (0.01 | ) |  |  | (0.78 | ) |  | $ | (0.18 | ) |  |  | (0.02 | ) |  |  | (0.20 | )
§ Represents an amount less than $0.5 million.
|  | Three months ended |
|  | December 31, 2022 |  |  | September 30, 2022 |  |  | June 30, 2022 |
|  | As previously reported |  |  | Adjustment |  |  | As revised |  |  | As previously reported |  |  | Adjustment |  |  | As revised |  |  | As previously reported |  |  | Adjustment |  |  | As revised |
|  | U.S $ in millions (except per share amounts) |
Other asset impairments, restructuring and other items |  | $ | 132 |  |  |  | 85 |  |  |  | 217 |  |  | $ | 36 |  |  |  | (5 | ) |  |  | 31 |  |  | $ | 118 |  |  |  | 18 |  |  |  | 137 |
Operating income (loss) |  |  | (855 | ) |  |  | (85 | ) |  |  | (940 | ) |  |  | 419 |  |  |  | 5 |  |  |  | 424 |  |  |  | (949 | ) |  |  | (18 | ) |  |  | (967 | )
Income (loss) before income taxes |  |  | (1,100 | ) |  |  | (85 | ) |  |  | (1,185 | ) |  |  | 166 |  |  |  | 5 |  |  |  | 171 |  |  |  | (1,160 | ) |  |  | (18 | ) |  |  | (1,178 | )
Income taxes (benefit) |  |  | 154 |  |  |  | (5 | ) |  |  | 149 |  |  |  | 107 |  |  |  | § |  |  |  | 107 |  |  |  | (900 | ) |  |  | § |  |  |  | (900 | )
Net income (loss) |  |  | (1,254 | ) |  |  | (80 | ) |  |  | (1,333 | ) |  |  | 58 |  |  |  | 5 |  |  |  | 63 |  |  |  | (259 | ) |  |  | (18 | ) |  |  | (278 | )
Net income (loss) attributable to Teva |  |  | (1,221 | ) |  |  | (80 | ) |  |  | (1,301 | ) |  |  | 56 |  |  |  | 5 |  |  |  | 61 |  |  |  | (232 | ) |  |  | (18 | ) |  |  | (251 | )
Basic |  | $ | (1.10 | ) |  |  | (0.07 | ) |  |  | (1.17 | ) |  | $ | 0.05 |  |  |  | — |  |  |  | 0.05 |  |  | $ | (0.21 | ) |  |  | (0.02 | ) |  |  | (0.23 | )
Diluted |  | $ | (1.10 | ) |  |  | (0.07 | ) |  |  | (1.17 | ) |  | $ | 0.05 |  |  |  | — |  |  |  | 0.05 |  |  | $ | (0.21 | ) |  |  | (0.02 | ) |  |  | (0.23 | )
§ Represents an amount less than $0.5 million.
Summary of Restatement of Certain Line Items in the Balance Sheets | Consolidated Balance Sheets
|  | September 30, 2023 |  |  | June 30, 2023 |  |  | March 31, 2023 |
|  | As previously reported |  |  | Adjustment |  |  | As revised |  |  | As previously reported |  |  | Adjustment |  |  | As revised |  |  | As previously reported |  |  | Adjustment |  |  | As revised |
|  | U.S $ in millions (except per share amounts) |
Deferred income taxes |  | $ | 1,748 |  |  |  | 7 |  |  |  | 1,755 |  |  | $ | 1,578 |  |  |  | 5 |  |  |  | 1,583 |  |  | $ | 1,572 |  |  |  | 5 |  |  |  | 1,577 |
Total assets |  |  | 42,088 |  |  |  | 7 |  |  |  | 42,095 |  |  |  | 43,095 |  |  |  | 5 |  |  |  | 43,100 |  |  |  | 43,456 |  |  |  | 5 |  |  |  | 43,461 |
Other taxes and long-term liabilities |  |  | 3,818 |  |  |  | 132 |  |  |  | 3,950 |  |  |  | 3,973 |  |  |  | 121 |  |  |  | 4,094 |  |  |  | 3,869 |  |  |  | 113 |  |  |  | 3,982 |
Total long-term liabilities |  |  | 23,182 |  |  |  | 132 |  |  |  | 23,314 |  |  |  | 23,543 |  |  |  | 121 |  |  |  | 23,664 |  |  |  | 24,433 |  |  |  | 113 |  |  |  | 24,546 |
Total liabilities |  |  | 34,576 |  |  |  | 132 |  |  |  | 34,708 |  |  |  | 35,387 |  |  |  | 121 |  |  |  | 35,508 |  |  |  | 34,844 |  |  |  | 113 |  |  |  | 34,957 |
Teva shareholders’ equity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accumulated deficit |  |  | (13,870 | ) |  |  | (125 | ) |  |  | (13,995 | ) |  |  | (13,950 | ) |  |  | (116 | ) |  |  | (14,066 | ) |  |  | (13,086 | ) |  |  | (108 | ) |  |  | (13,194 | )
Total equity |  |  | 7,512 |  |  |  | (125 | ) |  |  | 7,387 |  |  |  | 7,708 |  |  |  | (116 | ) |  |  | 7,592 |  |  |  | 8,612 |  |  |  | (108 | ) |  |  | 8,504 |
Total liabilities and equity |  | $ | 42,088 |  |  |  | 7 |  |  |  | 42,095 |  |  | $ | 43,095 |  |  |  | 5 |  |  |  | 43,100 |  |  | $ | 43,456 |  |  |  | 5 |  |  |  | 43,461 |
|  | December 31, 2022 |  |  | September 30, 2022 |  |  | June 30, 2022 |
|  | As previously reported |  |  | Adjustment |  |  | As revised |  |  | As previously reported |  |  | Adjustment |  |  | As revised |  |  | As previously reported |  |  | Adjustment |  |  | As revised |
|  | U.S $ in millions (except per share amounts) |
Deferred income taxes |  | $ | 1,453 |  |  |  | 5 |  |  |  | 1,458 |  |  | $ | 1,546 |  |  |  | § |  |  |  | 1,546 |  |  | $ | 1,595 |  |  |  | § |  |  |  | 1,595 |
Total assets |  |  | 44,006 |  |  |  | 5 |  |  |  | 44,011 |  |  |  | 44,252 |  |  |  | § |  |  |  | 44,252 |  |  |  | 45,932 |  |  |  | § |  |  |  | 45,932 |
Other taxes and long-term liabilities |  |  | 3,847 |  |  |  | 98 |  |  |  | 3,945 |  |  |  | 3,846 |  |  |  | 13 |  |  |  | 3,859 |  |  |  | 3,842 |  |  |  | 18 |  |  |  | 3,860 |
Total long-term liabilities |  |  | 23,846 |  |  |  | 98 |  |  |  | 23,944 |  |  |  | 23,200 |  |  |  | 13 |  |  |  | 23,213 |  |  |  | 25,107 |  |  |  | 18 |  |  |  | 25,125 |
Total liabilities |  |  | 35,315 |  |  |  | 98 |  |  |  | 35,413 |  |  |  | 34,734 |  |  |  | 13 |  |  |  | 34,747 |  |  |  | 36,103 |  |  |  | 18 |  |  |  | 36,121 |
Accumulated deficit |  |  | (12,882 | ) |  |  | (93 | ) |  |  | (12,975 | ) |  |  | (11,660 | ) |  |  | (13 | ) |  |  | (11,673 | ) |  |  | (11,716 | ) |  |  | (18 | ) |  |  | (11,734 | )
Total equity |  |  | 8,691 |  |  |  | (93 | ) |  |  | 8,598 |  |  |  | 9,519 |  |  |  | (13 | ) |  |  | 9,506 |  |  |  | 9,828 |  |  |  | (18 | ) |  |  | 9,810 |
Total liabilities and equity |  | $ | 44,006 |  |  |  | 5 |  |  |  | 44,011 |  |  | $ | 44,252 |  |  |  | — |  |  |  | 44,252 |  |  | $ | 45,932 |  |  |  | — |  |  |  | 45,932 |
§ Represents an amount less than $0.5 million.

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