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Debt obligations (Tables) | 3 Months Ended
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Mar. 31, 2024
Schedule of Short-term Debt |
a. | Short-term debt:
|  |  |  |  |  | March 31, |  |  | December 31, |
|  | Interest rate as of March 31, 2024 |  |  | Maturity |  |  | 2024 |  |  | 2023 |
|  |  |  |  |  |  |  | (U.S. $ in millions) |
Convertible senior debentures |  |  | 0.25 | % |  |  | 2026 |  |  |  | 23 |  |  |  | 23 |
Current maturities of long-term liabilities |  |  |  | 3,037 |  |  |  | 1,649 |
Total short-term debt |  |  | $ | 3,060 |  |  | $ | 1,672 |
Schedule of Senior Notes and Loans |
b. | Long-term debt:
|  | Interest rate as of March 31, 2024 |  |  | Maturity |  |  | March 31, 2024 |  |  | December 31, 2023 |
|  |  |  |  |  |  |  | (U.S. $ in millions) |
Senior notes EUR 1,500 million |  |  | 1.13 | % |  |  | 2024 |  |  |  | 676 |  |  |  | 693 |
Sustainability-linked senior notes EUR 1,500 million (6)(*) |  |  | 4.38 | % |  |  | 2030 |  |  |  | 1,620 |  |  |  | 1,656 |
Sustainability-linked senior notes EUR 1,100 million (7)(*) |  |  | 3.75 | % |  |  | 2027 |  |  |  | 1,188 |  |  |  | 1,215 |
Senior notes EUR 1,000 million (5) |  |  | 6.00 | % |  |  | 2025 |  |  |  | 443 |  |  |  | 453 |
Senior notes EUR 900 million (5) |  |  | 4.50 | % |  |  | 2025 |  |  |  | 535 |  |  |  | 547 |
Sustainability-linked senior notes EUR 800 million (1)(*) |  |  | 7.38 | % |  |  | 2029 |  |  |  | 864 |  |  |  | 884 |
Senior notes EUR 750 million |  |  | 1.63 | % |  |  | 2028 |  |  |  | 806 |  |  |  | 826 |
Senior notes EUR 700 million |  |  | 1.88 | % |  |  | 2027 |  |  |  | 757 |  |  |  | 771 |
Sustainability-linked senior notes EUR 500 million (2)(*) |  |  | 7.88 | % |  |  | 2031 |  |  |  | 540 |  |  |  | 552 |
Senior notes USD 3,500 million (5) |  |  | 3.15 | % |  |  | 2026 |  |  |  | 3,374 |  |  |  | 3,374 |
Senior notes USD 2,000 million |  |  | 4.10 | % |  |  | 2046 |  |  |  | 1,986 |  |  |  | 1,986 |
Senior notes USD 1,250 million (5)(8) |  |  | 6.00 | % |  |  | 2024 |  |  |  | 956 |  |  |  | 956 |
Senior notes USD 1,250 million |  |  | 6.75 | % |  |  | 2028 |  |  |  | 1,250 |  |  |  | 1,250 |
Senior notes USD 1,000 million (5) |  |  | 7.13 | % |  |  | 2025 |  |  |  | 427 |  |  |  | 427 |
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 |  |  |  | 600 |
Sustainability-linked senior notes USD 500 million (4)(*) |  |  | 8.13 | % |  |  | 2031 |  |  |  | 500 |  |  |  | 500 |
Senior notes CHF 350 million |  |  | 1.00 | % |  |  | 2025 |  |  |  | 390 |  |  |  | 416 |
Total senior notes |  |  |  | 19,695 |  |  |  | 19,889 |
Other long-term debt |  |  |  |  |  |  |  |  |  |  | — |  |  |  | 1 |
Less current maturities |  |  |  | (3,037 | ) |  |  | (1,649 | )
Less debt issuance costs |  |  |  | (74 | ) |  |  | (80 | )
Total senior notes and loans |  |  | $ | 16,584 |  |  | $ | 18,161 |
(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) | In April 2024, Teva repaid $956 million of its 6% 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 8c.

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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. + References No definition available. + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 + Details
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