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Segments (Tables) | 6 Months Ended
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Jun. 30, 2024
Summary of Segment Profit |
| a. | Segment information:
|  | Three months ended June 30, |
|  | 2024 |
|  | United States |  |  | Europe |  |  | International Markets |
|  | (U.S. $ in millions) |
Revenues |  | $ | 2,110 |  |  | $ | 1,213 |  |  | $ | 593 |
Gross profit |  |  | 1,167 |  |  |  | 677 |  |  |  | 286 |
R&D expenses |  |  | 170 |  |  |  | 62 |  |  |  | 30 |
S&M expenses |  |  | 270 |  |  |  | 209 |  |  |  | 145 |
G&A expenses |  |  | 100 |  |  |  | 64 |  |  |  | 38 |
Other income |  |  | (1 | ) |  |  | § |  |  |  | § |
Segment profit |  | $ | 629 |  |  | $ | 342 |  |  | $ | 73 |
§ | Represents an amount less than $0.5 million.
|  | Three months ended June 30, |
|  | 2023 |
|  | United States |  |  | Europe |  |  | International Markets |
|  | (U.S. $ in millions) |
Revenues |  | $ | 1,892 |  |  | $ | 1,163 |  |  | $ | 578 |
Gross profit |  |  | 1,017 |  |  |  | 640 |  |  |  | 283 |
R&D expenses |  |  | 156 |  |  |  | 53 |  |  |  | 23 |
S&M expenses |  |  | 250 |  |  |  | 194 |  |  |  | 125 |
G&A expenses |  |  | 101 |  |  |  | 61 |  |  |  | 34 |
Other income |  |  | (1 | ) |  |  | (1 | ) |  |  | (31 | )
Segment profit |  | $ | 511 |  |  | $ | 334 |  |  | $ | 132 |
|  | Six month ended June 30, |
|  | 2024 |
|  | United States |  |  | Europe |  |  | International Markets |
|  | (U.S. $ in millions) |
Revenues |  | $ | 3,835 |  |  | $ | 2,485 |  |  | $ | 1,190 |
Gross profit |  |  | 2,025 |  |  |  | 1,415 |  |  |  | 583 |
R&D expenses |  |  | 324 |  |  |  | 118 |  |  |  | 58 |
S&M expenses |  |  | 530 |  |  |  | 403 |  |  |  | 263 |
G&A expenses |  |  | 193 |  |  |  | 130 |  |  |  | 73 |
Other income |  |  | (1 | ) |  |  | § |  |  |  | (1 | )
Segment profit |  | $ | 979 |  |  | $ | 764 |  |  | $ | 190 |
§ | Represents an amount less than $0.5 million.
|  | Six month ended June 30, |
|  | 2023 |
|  | United States |  |  | Europe |  |  | International Markets |
|  | (U.S. $ in millions) |
Revenues |  | $ | 3,569 |  |  | $ | 2,347 |  |  | $ | 1,159 |
Gross profit |  |  | 1,806 |  |  |  | 1,294 |  |  |  | 568 |
R&D expenses |  |  | 305 |  |  |  | 106 |  |  |  | 51 |
S&M expenses |  |  | 457 |  |  |  | 381 |  |  |  | 238 |
G&A expenses |  |  | 196 |  |  |  | 130 |  |  |  | 72 |
Other income |  |  | (1 | ) |  |  | (1 | ) |  |  | (33 | )
Segment profit |  | $ | 850 |  |  | $ | 679 |  |  | $ | 240 |
The following table presents a reconciliation of Teva’s segment profits to its consolidated operating income (loss) and to consolidated income (loss) before income taxes for the three months ended June 30, 2024 and 2023:
|  | Three months ended June 30, |  |  | Six months ended June 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
|  | (U.S. $ in millions) |  |  | (U.S. $ in millions) |
United States profit |  | $ | 629 |  |  | $ | 511 |  |  | $ | 979 |  |  | $ | 850 |
Europe profit |  |  | 342 |  |  |  | 334 |  |  |  | 764 |  |  |  | 679 |
International Markets profit |  |  | 73 |  |  |  | 132 |  |  |  | 190 |  |  |  | 240 |
Total reportable segments profit |  |  | 1,043 |  |  |  | 977 |  |  |  | 1,933 |  |  |  | 1,769 |
Profit (loss) of other activities |  |  | 12 |  |  |  | 33 |  |  |  | 15 |  |  |  | 27 |
Total segments profit |  |  | 1,056 |  |  |  | 1,011 |  |  |  | 1,948 |  |  |  | 1,796 |
Amounts not allocated to segments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization |  |  | 146 |  |  |  | 162 |  |  |  | 298 |  |  |  | 326 |
Other assets impairments, restructuring and other items * |  |  | 280 |  |  |  | 108 |  |  |  | 954 |  |  |  | 218 |
Goodwill impairment |  |  | 400 |  |  |  | 700 |  |  |  | 400 |  |  |  | 700 |
Intangible assets impairments |  |  | 61 |  |  |  | 63 |  |  |  | 141 |  |  |  | 241 |
Legal settlements and loss contingencies |  |  | 83 |  |  |  | 462 |  |  |  | 188 |  |  |  | 695 |
Other unallocated amounts |  |  | 91 |  |  |  | 170 |  |  |  | 190 |  |  |  | 282 |
Consolidated operating income (loss) * |  |  | (5 | ) |  |  | (654 | ) |  |  | (223 | ) |  |  | (667 | )
Financial expenses, net |  |  | 241 |  |  |  | 268 |  |  |  | 491 |  |  |  | 528 |
Consolidated income (loss) before income taxes * |  | $ | (246 | ) |  | $ | (923 | ) |  | $ | (713 | ) |  | $ | (1,195 | )
* | The data presented for the prior period have been revised to reflect a revision in the presentation of these items in the consolidated financial statements.
Schedule of Net Sales by Product Line | The following tables present revenues by major products and activities for the three months ended June 30, 2024 and 2023:
United States |  | Three months ended June 30, |
|  | 2024 |  |  | 2023 |
|  | (U.S. $ in millions) |
Generic products |  | $ | 1,023 |  |  | $ | 884 |
AJOVY ® |  |  | 42 |  |  |  | 52 |
AUSTEDO |  |  | 407 |  |  |  | 308 |
BENDEKA ® and TREANDA ® |  |  | 41 |  |  |  | 67 |
COPAXONE |  |  | 81 |  |  |  | 56 |
Anda |  |  | 373 |  |  |  | 392 |
Other |  |  | 144 |  |  |  | 131 |
Total |  | $ | 2,110 |  |  | $ | 1,892 |
United States |  | Six months ended June 30, |
|  | 2024 |  |  | 2023 |
|  | (U.S. $ in millions) |
Generic products |  | $ | 1,831 |  |  | $ | 1,631 |
AJOVY |  |  | 87 |  |  |  | 98 |
AUSTEDO |  |  | 689 |  |  |  | 478 |
BENDEKA and TREANDA |  |  | 87 |  |  |  | 129 |
COPAXONE |  |  | 111 |  |  |  | 127 |
Anda |  |  | 754 |  |  |  | 816 |
Other |  |  | 276 |  |  |  | 289 |
Total |  | $ | 3,835 |  |  | $ | 3,569 |
Europe |  | Three months ended June 30, |
|  | 2024 |  |  | 2023 |
|  | (U.S. $ in millions) |
Generic products |  | $ | 970 |  |  | $ | 909 |
AJOVY |  |  | 52 |  |  |  | 39 |
COPAXONE |  |  | 53 |  |  |  | 60 |
Respiratory products |  |  | 57 |  |  |  | 66 |
Other |  |  | 81 |  |  |  | 89 |
Total |  | $ | 1,213 |  |  | $ | 1,163 |
Europe |  | Six months ended June 30, |
|  | 2024 |  |  | 2023 |
|  | (U.S. $ in millions) |
Generic products |  | $ | 1,974 |  |  | $ | 1,841 |
AJOVY |  |  | 102 |  |  |  | 74 |
COPAXONE |  |  | 110 |  |  |  | 119 |
Respiratory products |  |  | 123 |  |  |  | 134 |
Other |  |  | 175 |  |  |  | 178 |
Total |  | $ | 2,485 |  |  | $ | 2,347 |
International markets |  | Three months ended June 30, |
|  | 2024 |  |  | 2023 |
|  | (U.S. $ in millions) |
Generic products |  | $ | 486 |  |  | $ | 478 |
AJOVY |  |  | 22 |  |  |  | 14 |
COPAXONE |  |  | 14 |  |  |  | 17 |
Other |  |  | 71 |  |  |  | 69 |
Total |  | $ | 593 |  |  | $ | 578 |
International markets |  | Six months ended June 30, |
|  | 2024 |  |  | 2023 |
|  | (U.S. $ in millions) |
Generic products |  | $ | 963 |  |  | $ | 955 |
AJOVY |  |  | 39 |  |  |  | 27 |
COPAXONE |  |  | 25 |  |  |  | 34 |
Other |  |  | 162 |  |  |  | 142 |
Total |  | $ | 1,190 |  |  | $ | 1,159 |

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- Definition Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 + Details
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