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Segments (Tables) | 9 Months Ended
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Sep. 30, 2024
Summary of Segment Profit |
| a. | Segment information:
|  | Three months ended September 30, |
|  | 2024 |
|  | United States |  |  | Europe |  |  | International Markets |
|  | (U.S. $ in millions) |
Revenues |  | $ | 2,225 |  |  | $ | 1,265 |  |  | $ | 613 |
Gross profit |  |  | 1,265 |  |  |  | 698 |  |  |  | 306 |
R&D expenses |  |  | 151 |  |  |  | 55 |  |  |  | 27 |
S&M expenses |  |  | 259 |  |  |  | 203 |  |  |  | 134 |
G&A expenses |  |  | 107 |  |  |  | 67 |  |  |  | 36 |
Other loss ( income ) |  |  | § |  |  |  | 1 |  |  |  | § |
Segment profit |  | $ | 748 |  |  | $ | 373 |  |  | $ | 109 |
§ | Represents an amount less than $0.5 million.
|  | Three months ended September 30, |
|  | 2023 |
|  | United States |  |  | Europe |  |  | International Markets |
|  | (U.S. $ in millions) |
Revenues |  | $ | 1,896 |  |  | $ | 1,146 |  |  | $ | 591 |
Gross profit |  |  | 1,060 |  |  |  | 648 |  |  |  | 293 |
R&D expenses |  |  | 156 |  |  |  | 62 |  |  |  | 30 |
S&M expenses |  |  | 243 |  |  |  | 184 |  |  |  | 116 |
G&A expenses |  |  | 93 |  |  |  | 66 |  |  |  | 33 |
Other loss ( income ) |  |  | (2 | ) |  |  | § |  |  |  | (2 | )
Segment profit |  | $ | 571 |  |  | $ | 338 |  |  | $ | 117 |
§ | Represents an amount less than $0.5 million.
|  | Nine months ended September 30, |
|  | 2024 |
|  | United States |  |  | Europe |  |  | International Markets |
|  | (U.S. $ in millions) |
Revenues |  | $ | 6,060 |  |  | $ | 3,749 |  |  | $ | 1,802 |
Gross profit |  |  | 3,291 |  |  |  | 2,113 |  |  |  | 889 |
R&D expenses |  |  | 475 |  |  |  | 173 |  |  |  | 85 |
S&M expenses |  |  | 789 |  |  |  | 605 |  |  |  | 397 |
G&A expenses |  |  | 300 |  |  |  | 197 |  |  |  | 109 |
Other loss ( income ) |  |  | (1 | ) |  |  | 1 |  |  |  | (1 | )
Segment profit |  | $ | 1,727 |  |  | $ | 1,137 |  |  | $ | 299 |
|  | Nine months ended September 30, |
|  | 2023 |
|  | United States |  |  | Europe |  |  | International Markets |
|  | (U.S. $ in millions) |
Revenues |  | $ | 5,465 |  |  | $ | 3,493 |  |  | $ | 1,750 |
Gross profit |  |  | 2,866 |  |  |  | 1,943 |  |  |  | 861 |
R&D expenses |  |  | 460 |  |  |  | 168 |  |  |  | 81 |
S&M expenses |  |  | 700 |  |  |  | 565 |  |  |  | 353 |
G&A expenses |  |  | 289 |  |  |  | 196 |  |  |  | 105 |
Other loss ( income ) |  |  | (3 | ) |  |  | (2 | ) |  |  | (34 | )
Segment profit |  | $ | 1,421 |  |  | $ | 1,017 |  |  | $ | 356 |
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 and nine months ended September 30, 2024 and 2023 :
|  | Three months ended |  |  | Nine months ended |
|  | September 30, |  |  | September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
|  | (U.S. $ in millions) |  |  | (U.S. $ in millions) |
United States profit |  | $ | 748 |  |  | $ | 571 |  |  | $ | 1,727 |  |  | $ | 1,421 |
Europe profit |  |  | 373 |  |  |  | 338 |  |  |  | 1,137 |  |  |  | 1,017 |
International Markets profit |  |  | 109 |  |  |  | 117 |  |  |  | 299 |  |  |  | 356 |
Total reportable segments profit |  |  | 1,230 |  |  |  | 1,025 |  |  |  | 3,163 |  |  |  | 2,794 |
Profit (loss) of other activities |  |  | (16 | ) |  |  | (5 | ) |  |  | (1 | ) |  |  | 22 |
Total segments profit |  |  | 1,214 |  |  |  | 1,020 |  |  |  | 3,162 |  |  |  | 2,816 |
Amounts not allocated to segments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization |  |  | 146 |  |  |  | 145 |  |  |  | 444 |  |  |  | 471 |
Other assets impairments, restructuring and other items* |  |  | (23 | ) |  |  | 57 |  |  |  | 931 |  |  |  | 276 |
Goodwill impairment |  |  | 600 |  |  |  | — |  |  |  | 1,000 |  |  |  | 700 |
Intangible assets impairments |  |  | 28 |  |  |  | 47 |  |  |  | 169 |  |  |  | 289 |
Legal settlements and loss contingencies |  |  | 450 |  |  |  | 314 |  |  |  | 638 |  |  |  | 1,009 |
Other unallocated amounts |  |  | 64 |  |  |  | 112 |  |  |  | 254 |  |  |  | 394 |
Consolidated operating income (loss) * |  |  | (51 | ) |  |  | 344 |  |  |  | (274 | ) |  |  | (323 | )
Financial expenses, net |  |  | 272 |  |  |  | 280 |  |  |  | 763 |  |  |  | 808 |
Consolidated income (loss) before income taxes * |  | $ | (324 | ) |  | $ | 64 |  |  | $ | (1,037 | ) |  | $ | (1,131 | )
* | 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. For additional information see note 1c.
Schedule of Net Sales by Product Line | The following tables present revenues by major products and activities for the three and nine months ended September 30, 2024 and 2023:
United States |  | Three months ended September 30, |
|  | 2024 |  |  | 2023 |
|  | (U.S. $ in millions) |
Generic products |  | $ | 1,094 |  |  | $ | 839 |
AJOVY ® |  |  | 58 |  |  |  | 56 |
AUSTEDO |  |  | 435 |  |  |  | 339 |
BENDEKA ® and TREANDA ® |  |  | 40 |  |  |  | 56 |
COPAXONE |  |  | 69 |  |  |  | 98 |
UZEDY |  |  | 35 |  |  |  | 2 |
Anda |  |  | 380 |  |  |  | 367 |
Other |  |  | 115 |  |  |  | 140 |
Total |  | $ | 2,225 |  |  | $ | 1,896 |
United States |  | Nine months ended September 30, |
|  | 2024 |  |  | 2023 |
|  | (U.S. $ in millions) |
Generic products |  | $ | 2,924 |  |  | $ | 2,471 |
AJOVY |  |  | 144 |  |  |  | 154 |
AUSTEDO |  |  | 1,124 |  |  |  | 817 |
BENDEKA and TREANDA |  |  | 127 |  |  |  | 185 |
COPAXONE |  |  | 179 |  |  |  | 224 |
UZEDY |  |  | 75 |  |  |  | 14 |
Anda |  |  | 1,134 |  |  |  | 1,183 |
Other |  |  | 352 |  |  |  | 417 |
Total |  | $ | 6,060 |  |  | $ | 5,465 |
Europe |  | Three months ended September 30, |
|  | 2024 |  |  | 2023 |
|  | (U.S. $ in millions) |
Generic products |  | $ | 973 |  |  | $ | 886 |
AJOVY |  |  | 56 |  |  |  | 41 |
COPAXONE |  |  | 53 |  |  |  | 55 |
Respiratory products |  |  | 60 |  |  |  | 61 |
Other* |  |  | 124 |  |  |  | 104 |
Total |  | $ | 1,265 |  |  | $ | 1,146 |
* | Other revenues in the third quarter of 2024 include the sale of certain product rights.
Europe |  | Nine months ended September 30, |
|  | 2024 |  |  | 2023 |
|  | (U.S. $ in millions) |
Generic products |  | $ | 2,947 |  |  | $ | 2,727 |
AJOVY |  |  | 158 |  |  |  | 115 |
COPAXONE |  |  | 163 |  |  |  | 174 |
Respiratory products |  |  | 183 |  |  |  | 195 |
Other* |  |  | 299 |  |  |  | 282 |
Total |  | $ | 3,749 |  |  | $ | 3,493 |
* | Other revenues in the first nine months of 2024 include the sale of certain product rights.
International markets |  | Three months ended September 30, |
|  | 2024 |  |  | 2023 |
|  | (U.S. $ in millions) |
Generic products |  | $ | 477 |  |  | $ | 470 |
AJOVY |  |  | 24 |  |  |  | 18 |
COPAXONE |  |  | 13 |  |  |  | 16 |
Other* |  |  | 99 |  |  |  | 87 |
Total |  | $ | 613 |  |  | $ | 591 |
* | Other revenues in the third quarter of 2024 include the sale of certain product rights.
International markets |  | Nine months ended September 30, |
|  | 2024 |  |  | 2023 |
|  | (U.S. $ in millions) |
Generic products |  | $ | 1,440 |  |  | $ | 1,425 |
AJOVY |  |  | 63 |  |  |  | 45 |
COPAXONE |  |  | 38 |  |  |  | 50 |
Other* |  |  | 261 |  |  |  | 229 |
Total |  | $ | 1,802 |  |  | $ | 1,750 |
* | Other revenues in the first nine months of 2024 include the sale of certain product rights.

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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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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