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Other assets impairments, restructuring and other items | 3 Months Ended
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Mar. 31, 2024
Other assets impairments, restructuring and other items | NOTE 12 – Other assets impairments, restructuring and other items:
|  | Three months ended |
|  | March 31, |
|  | 2024 |  |  | 2023 |
|  | (U.S. $ in millions) |
Impair ments of long-lived tangible assets (1) |  | $ | 599 |  |  | $ | 10 |
Contingent consideration (2) |  |  | 79 |  |  |  | 35 |
Restructuring |  |  | 13 |  |  |  | 56 |
Other |  |  | (18 | ) |  |  | 9 |
Total |  | $ | 673 |  |  | $ | 110 |
(1) | Including expenses related to exit and disposal activities.
(2) | The contingent consideration presented in the table above for the three months ended March 31, 2023 has been revised as discussed in note 1c.
Impairments Impairments of tangible assets for the three months ended March 31, 2024 and 2023 were $599 million and $10 million, respectively. The expense for the three months ended March 31, 2024 was mainly related to the classification of a business in Teva’s International Markets segment as held for sale. See note 2. Teva may record additional impairments in the future, to the extent it changes its plans on any given asset and/or the assumptions underlying such plans, as a result of its ongoing network consolidation activities and its Pivot to Growth strategy. Contingent consideration In the three months ended March 31, 2024, Teva recorded an expense of $79 million for contingent consideration, compared to an expense of $35 million in the three months ended March 31, 2023. The expense in the first three months of 2024 and 2023 was mainly related to a change in the estimated future royalty payments to Allergan in connection with lenalidomide (generic equivalent of Revlimid ® ) and a change in the estimated future royalty payments to Eagle in connection with expected future bendamustine sales. The expense in the first quarter of 2023 was revised as discussed in note 1c. Restructuring In the three months ended March 31, 2024, Teva recorded $13 million of restructuring expenses, compared to $56 million in the three months ended March 31, 2023. Expenses for the three months ended March 31, 2024 and 2023 were primarily related to network consolidation activities. The following tables provide the components of the Company’s restructuring costs:
|  | Three months ended March 31, |
|  | 2024 |  |  | 2023 |
|  | (U.S. $ in millions) |
Restructuring |  |  |  |  |  |  |  |
Employee termination |  | $ | 7 |  |  | $ | 23 |
Other |  |  | 6 |  |  |  | 33 |
Total |  | $ | 13 |  |  | $ | 56 |
The following table provides the components of and changes in the Company’s restructuring accruals:
|  | Employee termination costs |  |  | Other |  |  | Total |
|  | (U.S. $ in millions) |
Balance as of January 1, 2024 |  | $ | (75 | ) |  | $ | (7 | ) |  | $ | (82 | )
Provision |  |  | (7 | ) |  |  | (6 | ) |  |  | (13 | )
Utilization and other* |  |  | 32 |  |  |  | 7 |  |  |  | 39 |
Balance as of March 31, 2024 |  | $ | (50 | ) |  | $ | (6 | ) |  | $ | (57 | )
|  | Employee termination costs |  |  | Other |  |  | Total |
|  | (U.S. $ in millions) |
Balance as of January 1, 2023 |  | $ | (112 | ) |  | $ | (7 | ) |  | $ | (119 | )
Provision |  |  | (23 | ) |  |  | (33 | ) |  |  | (56 | )
Utilization and other* |  |  | 25 |  |  |  | 27 |  |  |  | 52 |
Balance as of March 31, 2023 |  | $ | (110 | ) |  | $ | (13 | ) |  | $ | (123 | )
* | Includes adjustments for foreign currency translation.

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