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Debt obligations (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Short-term Debt

a. Short-term debt:

										December 31,
		Weighted average interest rate as of December 31, 2023				Maturity				2023				2022
										(U.S. $ in millions)
Convertible debentures			0.25	%			2026			$	23			$	23
Current maturities of long-term liabilities											1,649				2,086
Total short term debt										$	1,672			$	2,109

Schedule of Senior Notes and Loans

b. Long-term debt:

		Interest rate as of December 31, 2023				Maturity				December 31, 2023				December 31, 2022
										(U.S. $ in millions)
Senior notes EUR 1,500 million			1.13	%			2024				693				670
Sustainability-linked senior notes EUR 1,500 million (6)(*)			4.38	%			2030				1,656				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				1,215				1,177
Senior notes EUR 1,000 million (5)			6.00	%			2025				453				1,070
Senior notes EUR 900 million (5)			4.50	%			2025				547				963
Sustainability-linked senior notes EUR 800 million (1)(*)			7.38	%			2029				884				—
Senior notes EUR 750 million			1.63	%			2028				826				800
Senior notes EUR 700 million			1.88	%			2027				771				748
Sustainability-linked senior notes EUR 500 million (2)(*)			7.88	%			2031				552				—
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				416				382
Total senior notes											19,889				21,266
Other long-term debt											1				1
Less current maturities											(1,649	)			(2,086	)
Less debt issuance costs (8)											(80	)			(78	)
Total senior notes and loans										$	18,161			$	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 December 31, 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 10c.

Required Annual Principal Payments of Long-term Debt, Excluding Debt Issuance Cost

As of December 31, 2023, the required annual principal payments of long-term debt (excluding debt issuance costs), including convertible senior debentures, starting from the year 2025, are as follows:

		December 31, 2023
		(U.S. $ in millions)
2025		$	1,843
2026*			3,397
2027			2,986
2028			2,076
2029 and thereafter			7,961
		$	18,263

* Including $23 million convertible notes. See note 9a.

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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.

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Tabular disclosure of maturity and sinking fund requirement for long-term debt.

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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.

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