XML 92 R75.htm IDEA: XBRL DOCUMENT v3.24.0.1
Debt Obligations - Schedule of Senior Notes and Loans (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Jul. 31, 2023
Dec. 31, 2022
Debt Instrument [Line Items]      
Total senior notes $ 19,889   $ 21,266
Less current maturities (1,649)   (2,086)
Less debt issuance costs [1] (80)   (78)
Total senior notes and loans 18,161   19,103
Other Debentures [Member]      
Debt Instrument [Line Items]      
Total senior notes and loans $ 1   1
Senior notes EUR 1,500 million [Member]      
Debt Instrument [Line Items]      
Weighted average interest rate 1.13%    
Maturity 2024    
Total senior notes $ 693   670
Sustainability-linked senior notes EUR 1,500 million [Member]      
Debt Instrument [Line Items]      
Weighted average interest rate [2],[3] 4.38%    
Maturity [2],[3] 2030    
Total senior notes [2],[3] $ 1,656   1,606
Senior notes EUR 1,300 million [Member]      
Debt Instrument [Line Items]      
Weighted average interest rate [4] 1.25%    
Maturity [4] 2023    
Total senior notes [4] $ 0   633
Sustainability-linked senior notes EUR 1,100 million [Member]      
Debt Instrument [Line Items]      
Weighted average interest rate [3],[5] 3.75%    
Maturity [3],[5] 2027    
Total senior notes [3],[5] $ 1,215   1,177
Senior notes EUR 1,000 million [Member]      
Debt Instrument [Line Items]      
Weighted average interest rate [6] 6.00%    
Maturity [6] 2025    
Total senior notes [6] $ 453   1,070
Senior notes EUR 900 million [Member]      
Debt Instrument [Line Items]      
Weighted average interest rate [6] 4.50%    
Maturity [6] 2025    
Total senior notes [6] $ 547   963
Sustainability-linked senior notes EUR 800 million [Member]      
Debt Instrument [Line Items]      
Weighted average interest rate [3],[7] 7.38%    
Maturity [3],[7] 2029    
Total senior notes [3],[7] $ 884   0
Senior notes EUR 750 million [Member]      
Debt Instrument [Line Items]      
Weighted average interest rate 1.63%    
Maturity 2028    
Total senior notes $ 826   800
Senior notes EUR 700 million [Member]      
Debt Instrument [Line Items]      
Weighted average interest rate 1.88%    
Maturity 2027    
Total senior notes $ 771   748
Sustainability-linked senior notes EUR 500 million [Member]      
Debt Instrument [Line Items]      
Weighted average interest rate [3],[8] 7.88%    
Maturity [3],[8] 2031    
Total senior notes [3],[8] $ 552   0
Senior notes USD 3,500 million [Member]      
Debt Instrument [Line Items]      
Weighted average interest rate [6] 3.15%    
Maturity [6] 2026    
Total senior notes [6] $ 3,374   3,496
Senior notes USD 3,000 million [Member]      
Debt Instrument [Line Items]      
Weighted average interest rate 2.80% [6],[9] 2.80%  
Maturity [6] 2023    
Total senior notes [6] $ 0   1,453
Senior notes USD 2,000 million [Member]      
Debt Instrument [Line Items]      
Weighted average interest rate 4.10%    
Maturity 2046    
Total senior notes $ 1,986   1,986
Senior notes USD 1,250 million [Member]      
Debt Instrument [Line Items]      
Weighted average interest rate [6] 6.00%    
Maturity [6] 2024    
Total senior notes [6] $ 956   1,250
Senior notes USD 1,250 million [Member]      
Debt Instrument [Line Items]      
Weighted average interest rate 6.75%    
Maturity 2028    
Total senior notes $ 1,250   1,250
Senior notes USD 1,000 million [Member]      
Debt Instrument [Line Items]      
Weighted average interest rate [6] 7.13%    
Maturity [6] 2025    
Total senior notes [6] $ 427   1,000
Sustainability-linked senior notes USD 1,000 million [Member]      
Debt Instrument [Line Items]      
Weighted average interest rate [3],[5] 4.75%    
Maturity [3],[5] 2027    
Total senior notes [3],[5] $ 1,000   1,000
Sustainability-linked senior notes USD 1,000 million [Member]      
Debt Instrument [Line Items]      
Weighted average interest rate [2],[3] 5.13%    
Maturity [2],[3] 2029    
Total senior notes [2],[3] $ 1,000   1,000
Senior notes USD 789 million [Member]      
Debt Instrument [Line Items]      
Weighted average interest rate 6.15%    
Maturity 2036    
Total senior notes $ 783   783
Sustainability-linked senior notes USD 600 million [Member]      
Debt Instrument [Line Items]      
Weighted average interest rate [3],[10] 7.88%    
Maturity [3],[10] 2029    
Total senior notes [3],[10] $ 600   0
Sustainability-linked senior notes USD 500 million [Member]      
Debt Instrument [Line Items]      
Weighted average interest rate [3],[11] 8.13%    
Maturity [3],[11] 2031    
Total senior notes [3],[11] $ 500   0
Senior notes CHF 350 Million [Member]      
Debt Instrument [Line Items]      
Weighted average interest rate 1.00%    
Maturity 2025    
Total senior notes $ 416   $ 382
[1] 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.
[2] 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.
[3] 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.
[4] In March 2023, Teva repaid $646 million of its 1.25% senior notes at maturity.
[5] 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.
[6] 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.
[7] 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.
[8] 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.
[9] In July 2023, Teva repaid $1,000 million of its 2.8% senior notes at maturity.
[10] 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.
[11] 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.