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Segments (Tables) | 12 Months Ended
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Dec. 31, 2023
Summary of Segment Profit |
|  | Year ended December 31, |
|  | 2023 |
|  | North America |  |  | Europe |  |  | International Markets |
|  | (U.S. $ in millions) |
Revenues |  | $ | 8,124 |  |  | $ | 4,837 |  |  | $ | 1,958 |
Gross profit |  |  | 4,421 |  |  |  | 2,726 |  |  |  | 1,050 |
R&D expenses |  |  | 625 |  |  |  | 220 |  |  |  | 83 |
S&M expenses |  |  | 1,005 |  |  |  | 767 |  |  |  | 420 |
G&A expenses |  |  | 403 |  |  |  | 263 |  |  |  | 118 |
Other income |  |  | (8 | ) |  |  | (2 | ) |  |  | (35 | )
Segment profit |  | $ | 2,396 |  |  | $ | 1,478 |  |  | $ | 464 |
|  | Year ended December 31, |
|  | 2022 |
|  | North America |  |  | Europe |  |  | International Markets |
|  | (U.S. $ in millions) |
Revenues |  | $ | 7,452 |  |  | $ | 4,525 |  |  | $ | 1,903 |
Gross profit |  |  | 3,926 |  |  |  | 2,700 |  |  |  | 1,033 |
R&D expenses |  |  | 532 |  |  |  | 213 |  |  |  | 72 |
S&M expenses |  |  | 941 |  |  |  | 748 |  |  |  | 405 |
G&A expenses |  |  | 474 |  |  |  | 246 |  |  |  | 119 |
Other income |  |  | (15 | ) |  |  | (3 | ) |  |  | (43 | )
Segment profit |  | $ | 1,993 |  |  | $ | 1,496 |  |  | $ | 479 |
|  | Year ended December 31, |
|  | 2021 |
|  | North America |  |  | Europe |  |  | International Markets |
|  | (U.S. $ in millions) |
Revenues |  | $ | 7,809 |  |  | $ | 4,886 |  |  | $ | 2,032 |
Gross profit |  |  | 4,226 |  |  |  | 2,823 |  |  |  | 1,118 |
R&D expenses |  |  | 618 |  |  |  | 244 |  |  |  | 68 |
S&M expenses |  |  | 988 |  |  |  | 846 |  |  |  | 417 |
G&A expenses |  |  | 427 |  |  |  | 244 |  |  |  | 109 |
Other income |  |  | (31 | ) |  |  | (5 | ) |  |  | (5 | )
Segment profit |  | $ | 2,224 |  |  | $ | 1,494 |  |  | $ | 529 |
|  | Year ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | (U.S. $ in millions) |
North America profit |  | $ | 2,396 |  |  | $ | 1,993 |  |  | $ | 2,224 |
Europe profit |  |  | 1,478 |  |  |  | 1,496 |  |  |  | 1,494 |
International Markets profit |  |  | 464 |  |  |  | 479 |  |  |  | 529 |
Total reportable segments profit |  |  | 4,338 |  |  |  | 3,968 |  |  |  | 4,246 |
Profit of other activities |  |  | 24 |  |  |  | 172 |  |  |  | 154 |
Total segments profit |  |  | 4,361 |  |  |  | 4,139 |  |  |  | 4,401 |
Amounts not allocated to segments: |  |  |  |  |  |  |  |  |  |  |  |
Amortization |  |  | 616 |  |  |  | 732 |  |  |  | 802 |
Other asset impairments, restructuring and other items (1) |  |  | 718 |  |  |  | 512 |  |  |  | 341 |
Goodwill impairment |  |  | 700 |  |  |  | 2,045 |  |  |  | — |
Intangible assets impairments |  |  | 350 |  |  |  | 355 |  |  |  | 424 |
Legal settlements and loss contingencies |  |  | 1,043 |  |  |  | 2,082 |  |  |  | 717 |
Other unallocated amounts |  |  | 502 |  |  |  | 610 |  |  |  | 402 |
Consolidated operating income (loss) (1) |  |  | 433 |  |  |  | (2,197 | ) |  |  | 1,716 |
Financial expenses, net |  |  | 1,057 |  |  |  | 966 |  |  |  | 1,058 |
Consolidated income (loss) before income taxes (1) |  | $ | (624 | ) |  | $ | (3,163 | ) |  | $ | 658 |
(1) | The data presented for 2022 have been revised to reflect a revision in relation to a contingent consideration liability and related expenses in the consolidated financial statements. See note 1b.
Schedule of Net Sales by Product Line | The following tables present revenues by major products and activities for each segment for the year ended December 31, 2023, 2022 and 2021: North America segment:
|  | Year ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | (U.S. $ in millions) |
Generic products |  | $ | 3,475 |  |  | $ | 3,549 |  |  | $ | 3,769 |
AJOVY |  |  | 230 |  |  |  | 218 |  |  |  | 176 |
AUSTEDO |  |  | 1,225 |  |  |  | 963 |  |  |  | 802 |
BENDEKA and TREANDA |  |  | 241 |  |  |  | 316 |  |  |  | 385 |
COPAXONE |  |  | 320 |  |  |  | 387 |  |  |  | 577 |
Anda |  |  | 1,577 |  |  |  | 1,471 |  |  |  | 1,323 |
Other* |  |  | 1,056 |  |  |  | 549 |  |  |  | 777 |
Total |  | $ | 8,124 |  |  | $ | 7,452 |  |  | $ | 7,809 |
* | Other revenues were mainly comprised of a $ 500 million upfront payment received in the fourth quarter of 2023, in connection with the collaboration on Teva’s anti-TL1A asset. See note 2.
Europe segment:
|  | Year ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | (U.S. $ in millions) |
Generic products |  | $ | 3,664 |  |  | $ | 3,466 |  |  | $ | 3,569 |
AJOVY |  |  | 160 |  |  |  | 124 |  |  |  | 87 |
COPAXONE |  |  | 231 |  |  |  | 268 |  |  |  | 391 |
Respiratory products |  |  | 265 |  |  |  | 273 |  |  |  | 356 |
Other* |  |  | 516 |  |  |  | 393 |  |  |  | 483 |
Total |  | $ | 4,837 |  |  | $ | 4,525 |  |  | $ | 4,886 |
* | Other revenues in 2023 were mainly related to the sale of certain product rights.
International Markets segment:
|  | Year ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | (U.S. $ in millions) |
Generic products |  | $ | 1,594 |  |  | $ | 1,586 |  |  | $ | 1,649 |
AJOVY |  |  | 44 |  |  |  | 35 |  |  |  | 50 |
COPAXONE |  |  | 39 |  |  |  | 36 |  |  |  | 37 |
Other |  |  | 281 |  |  |  | 246 |  |  |  | 295 |
Total |  | $ | 1,958 |  |  | $ | 1,903 |  |  | $ | 2,032 |
Schedule of Sales Percentage by Therapeutic Category | The following table represents the percentage of consolidated third party net sales to Teva’s major customers during the years ended December 31, 2023, 2022 and 2021.
|  | Percentage of Third Party Net Sales |
|  | 2023 |  |  | 2022 |  |  | 2021 |
McKesson Corporation |  |  | 9 | % |  |  | 10 | % |  |  | 11 | %
AmerisourceBergen Corporation |  |  | 9 | % |  |  | 10 | % |  |  | 11 | %
Schedule of Property, Plant and Equipment by Geographic Location |
|  | December 31, |
|  | 2023 |  |  | 2022 |
|  | (U.S. $ in millions) |
Israel |  | $ | 1,312 |  |  | $ | 1,401 |
Germany |  |  | 1,318 |  |  |  | 1,143 |
United States |  |  | 596 |  |  |  | 625 |
Croatia |  |  | 447 |  |  |  | 445 |
Czech republic |  |  | 309 |  |  |  | 318 |
Hungary |  |  | 279 |  |  |  | 294 |
Ireland |  |  | 266 |  |  |  | 268 |
Other |  |  | 1,222 |  |  |  | 1,245 |
Total property, plant and equipment |  | $ | 5,750 |  |  | $ | 5,739 |

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