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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Schedule of Income Before Income Taxes |
a. | Income (loss) before income taxes:
|  | Year ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | (U.S. $ in millions) |
Parent Company and its Israeli subsidiaries |  | $ | (767 | ) |  | $ | (119 | ) |  | $ | 126 |
Non-Israeli subsidiaries |  |  | 143 |  |  |  | (3,044 | ) |  |  | 532 |
|  | $ | (624 | ) |  | $ | (3,163 | ) |  | $ | 658 |
Schedule of the Provision for Income Taxes |
b. | Income taxes:
|  | Year ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | (U.S. $ in millions) |
In Israel |  | $ | (402 | ) |  | $ | 33 |  |  | $ | 124 |
Outside Israel |  |  | 395 |  |  |  | (676 | ) |  |  | 87 |
|  | $ | (7 | ) |  | $ | (643 | ) |  | $ | 211 |
Current |  | $ | 333 |  |  | $ | 430 |  |  | $ | 270 |
Deferred |  |  | (340 | ) |  |  | (1,073 | ) |  |  | (59 | )
|  | $ | (7 | ) |  | $ | (643 | ) |  | $ | 211 |
Accumulated Other Comprehensive Income/(Loss) (Net of Tax) |
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | (U.S. $ in millions) |
Income (loss) before income taxes (***) |  | $ | (624 | ) |  | $ | (3,163 | ) |  | $ | 658 |
Statutory tax rate in Israel |  |  | 23 | % |  |  | 23 | % |  |  | 23 | %
Theoretical provision for income taxes (***) |  | $ | (144 | ) |  | $ | (727 | ) |  | $ | 151 |
Increase (decrease) in the provision for income taxes due to: |  |  |  |  |  |  |  |  |  |  |  |
The Parent Company and its Israeli subsidiaries - Tax benefits arising from net deferred taxes, resulting from intellectual property related integration plans, including carryforward losses |  |  | (272) |  |  |  | — |  |  |  | — |
Tax benefits arising from reduced tax rates under benefit programs |  |  | 14 |  |  |  | 15 |  |  |  | (12) |
Mainly nondeductible items and prior year tax |  |  | — |  |  |  | 35 |  |  |  | 20 |
Non-Israeli subsidiaries, including impairments (*) |  |  | 372 |  |  |  | 941 |  |  |  | 117 |
Worthless stock deduction (**) |  |  | — |  |  |  | (909) |  |  |  | — |
Increase (decrease) in other uncertain tax positions - net |  |  | 23 |  |  |  | 2 |  |  |  | (65) |
Effective consolidated income taxes (***) |  | $ | (7) |  |  | $ | (643) |  |  | $ | 211 |
* | In 2023 and 2022, income 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 recognized on its 2022 tax return, a worthless stock deduction of approximately $4.2 billion, with related tax benefit of approximately $909 million.
*** | The financial data presented in the tables above for the year ended December 31, 2022 have been revised as discussed in note 1b.
Schedule of Deferred Income Taxes |
c. | Deferred income taxes:
|  | December 31, |
|  | 2023 |  |  | 2022 |
|  | (U.S. $ in millions) |
Deferred tax assets (liabilities), net: |  |  |  |
Inventory related |  | $ | 76 |  |  | $ | 125 |
Sales reserves and allowances |  |  | 81 |  |  |  | 89 |
Provision for legal settlements |  |  | 702 |  |  |  | 703 |
Intangible assets (*) |  |  | (118 | ) |  |  | (567 | )
Carryforward losses and deductions and credits (**) |  |  | 2,463 |  |  |  | 2,850 |
Property, plant and equipment |  |  | (225 | ) |  |  | (238 | )
Deferred interest |  |  | 799 |  |  |  | 800 |
Provisions for employee related obligations |  |  | 80 |  |  |  | 82 |
Other (***) |  |  | 357 |  |  |  | 138 |
|  |  | 4,215 |  |  |  | 3,982 |
Valuation allowance—in respect of carryforward losses and deductions that may not be utilized |  |  | (3,009 | ) |  |  | (3,072 | )
|  | $ | 1,206 |  |  | $ | 910 |
(*) | The increase in deferred tax is mainly due to intellectual property related integration.
(**) | The amounts are shown following a reduction for unrecognized tax benefits of $2 million and $1 million as of December 31, 2023 and 2022, respectively.
(***) | The amounts shown are primarily comprised of Capitalization of R&D Expenses. Other deferred income taxes presented in the table above as of December 31, 2022, have been revised as discussed in note 1b.
Schedule of Deferred Tax Assets and Liabilities By Report Caption | The deferred income taxes are reflected in the balance sheets among:
|  | December 31, |
|  | 2023 |  |  | 2022 |
|  | (U.S. $ in millions) |
Long-term assets—deferred income taxes (*) |  |  | 1,812 |  |  |  | 1,458 |
Long-term liabilities—deferred income taxes |  |  | (606 | ) |  |  | (548 | )
|  | $ | 1,206 |  |  | $ | 910 |
(*) | Long-term assets—deferred income taxes presented in the tables above as of December 31, 2022, have been revised as discussed in note 1b.
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, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | (U.S. $ in millions) |
Balance at the beginning of the year |  | $ | 638 |  |  | $ | 672 |  |  | $ | 888 |
Increase (decrease) related to prior year tax positions, net |  |  | (1 | ) |  |  | (46 | ) |  |  | (106 | )
Increase related to current year tax positions |  |  | 15 |  |  |  | 42 |  |  |  | 7 |
Decrease related to settlements with tax authorities and lapse of applicable statutes of limitations |  |  | (15 | ) |  |  | (31 | ) |  |  | (115 | )
Other |  |  | 14 |  |  |  | 1 |  |  |  | (2 | )
Balance at the end of the year |  | $ | 651 |  |  | $ | 638 |  |  | $ | 672 |

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