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Revenue from contracts with customers
 9 Months Ended
Sep. 30, 2024
Revenue from contracts with customers
NOTE 3 – Revenue from contracts with customers:
Disaggregation of revenue
The following table disaggregates Teva’s revenues by major revenue streams. For additional information on disaggregation of revenues, see note 15.
 
 
  
Three months ended September 30, 2024
 
 
  
United States
 
  
Europe
 
  
International
Markets
 
  
Other activities
 
  
Total
 
 
  
(U.S.$ in millions)
 
Sale of goods
      1,822        1,214       568        121        3,794  
Licensing arrangements
      23        9       6        8        45  
Distribution
      380        §       10        —         390  
Other
      §        42       29        100        102  
  
 
 
     
 
 
    
 
 
     
 
 
     
 
 
  
   $ 2,225      $ 1,265     $   613      $ 229      $  4,332  
  
 
 
     
 
 
    
 
 
     
 
 
     
 
 
  

§
Represents an amount less than $0.5 million.
 
    
Three months ended September 30, 2023
  
    
United States
     
Europe
    
International
Markets
     
Other activities
     
Total
  
    
(U.S.$ in millions)
  
Sale of goods
      1,500        1,117       556        130        3,303  
Licensing arrangements
      30        13       9        1        53  
Distribution
      366        §       11        —         377  
Other
      §        15        15        86        117  
  
 
 
     
 
 
    
 
 
     
 
 
     
 
 
  
   $ 1,896      $ 1,146     $   591      $ 217      $  3,850  
  
 
 
     
 
 
    
 
 
     
 
 
     
 
 
  

§
Represents an amount less than $0.5 million.
 
    
Nine months ended September 30, 2024
  
    
United States
     
Europe
    
International
Markets
     
Other activities
     
Total
  
    
(U.S.$ in millions)
  
Sale of goods
      4,857        3,668       1,708        399        10,701  
Licensing arrangements
      68        26       17        10        121  
Distribution
      1,134        §       28        —         1,163  
Other
      §        54        49        295        330  
  
 
 
     
 
 
    
 
 
     
 
 
     
 
 
  
   $ 6,060      $ 3,749     $ 1,802      $ 703      $ 12,315  
  
 
 
     
 
 
    
 
 
     
 
 
     
 
 
  

§
Represents an amount less than $0.5 million.
 
 
    
Nine months ended September 30, 2023
  
    
United States
     
Europe
     
International
Markets
     
Other activities
     
Total
  
    
(U.S.$ in millions)
  
Sale of goods
      4,210        3,446        1,656        412        9,724  
Licensing arrangements
      72        38        21        4        134  
Distribution
      1,183        §        29        —         1,212  
Other
      §        8        44        265        318  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
   $ 5,465      $ 3,493      $ 1,750      $ 681      $ 11,389  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
 
§
Represents an amount less than $0.5 million.  
Variable consideration
Variable consideration mainly includes sales reserves and allowances (“SR&A”), comprised of rebates (including Medicaid and other governmental program discounts), chargebacks, returns and other promotional (including shelf stock adjustments) items. Provisions for prompt payment discounts are netted against accounts receivables.
The Company recognizes these provisions at the time of sale and adjusts them if the actual amounts differ from the estimated provisions.
SR&A to U.S. customers comprised approximately 67% of the Company’s total SR&A as of September 30, 2024, with the remaining balance primarily related to customers in Canada and Germany. The changes in SR&A for third-party sales for the nine months ended September 30, 2024 and 2023 were as follows:
 
    
Sales Reserves and Allowances
  
    
Reserves
included in
Accounts
Receivable, net
    
Rebates
    
Medicaid and
other
governmental
allowances
    
Chargebacks
    
Returns
    
Other
    
Total reserves
included in
Sales Reserves
and Allowances
    
Total
  
    
(U.S.$ in millions)
  
Balance at January 1, 2024
    $ 61     $ 1,603     $ 540     $ 859     $ 436     $ 97     $ 3,535     $ 3,596  
Provisions related to sales made in current year period
      294       3,436       579       5,925       191       146       10,277       10,571  
Provisions related to sales made in prior periods
      —        16       26       (11 )      (28 )      (2 )      1       1  
Credits and payments
      (292 )      (3,269 )      (556 )      (5,877 )      (209 )      (121 )      (10,032 )      (10,324 ) 
Translation differences
      —        1       3       1       (1 )      —        4       4  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Balance at September 30, 2024
    $ 63     $ 1,787     $ 592     $ 897     $ 389     $ 120     $ 3,785     $ 3,848  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
 
 
    
Sales Reserves and Allowances
  
    
Reserves
included in
Accounts
Receivable, net
    
Rebates
    
Medicaid and
other
governmental
allowances
    
Chargebacks
    
Returns
    
Other
    
Total reserves
included in
Sales Reserves
and Allowances
    
Total
  
                                                  
    
(U.S.$ in millions)
  
Balance at January 1, 2023
    $ 67     $ 1,575     $ 663     $ 991     $ 455     $ 66     $ 3,750     $ 3,817  
Provisions related to sales made in current year period
      262       2,968       468       5,636       205       73       9,350       9,612  
Provisions related to sales made in prior periods
      —        (22 )      (33 )      (21 )      24       —        (52 )      (52 ) 
Credits and payments
      (268 )      (2,989 )      (617 )      (5,768 )      (251 )      (53 )      (9,678 )      (9,946 ) 
Translation differences
      —        (8 )      (2 )      (3 )      —        (6 )      (19 )      (19 ) 
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Balance at September 30, 2023
    $ 61     $ 1,524     $ 479     $ 835     $ 433     $ 80     $ 3,351     $ 3,412