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Debt obligations (Tables)

3 Months Ended

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.

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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

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