XML 49 R31.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Segments | 12 Months Ended
--- | ---
Dec. 31, 2024
Segments | NOTE 19 – Segments: Teva operates its business and reports its financial results in three segments:
| (a) | United States segment.
| (b) | Europe segment, which includes the European Union, the United Kingdom and certain other European countries.
| (c) | International Markets segment, which includes all countries other than the United States and countries included in the Europe segment.
In addition to these three segments, Teva has other sources of revenues included in other activities, primarily the sale of APIs to third parties, certain contract manufacturing services and an out-licensing platform offering a portfolio of products to other pharmaceutical companies through its affiliate Medis. Teva’s Chief Executive Officer (“CEO”), who is the chief operating decision maker (“CODM”), reviews financial information prepared on a consolidated basis, accompanied by disaggregated information about revenues and contributed profit by the three identified reportable segments, namely United States, Europe and International Markets, to make decisions about resources to be allocated to the segments and assess their performance. The key areas of focus by CODM for allocation of resources are revenues from each reportable segment, as well as operating expenses (cost of sales, R&D expenses, S&M expenses, G&A expenses, and other loss (income)). While CODM analyzes these categories, the area of focus is period over period fluxes and budget-to-actual variances to determine the right allocation of resources is attributed to each segment in order to ensure profitability is maximized. Segment profit is comprised of revenues for the segment less cost of sales, R&D expenses, S&M expenses, G&A expenses and other loss (income) related to the segment. Segment profit does not include amortization and certain other items. Teva manages its assets on a company basis, not by segments, as many of its assets are shared or commingled. Teva’s CODM does not regularly review asset information by reportable segment and, therefore, Teva does not report asset information by reportable segment. Teva’s CEO may review its strategy and organizational structure from time to time. Based on such review, in May 2023 Teva launched its new Pivot to Growth strategy. Any additional changes in strategy may lead to a reevaluation of the Company’s segments and goodwill allocation to reporting units, as well as fair value attributable to its reporting units. See note 7. In conjunction with a recent shift in executive management responsibilities and in alignment with Teva’s Pivot to Growth strategy, Teva decided that Canada is no longer included as part of Teva’s North America segment as of January 1, 2024. From that date Canada is reported as part of the Company’s International Markets segment and Teva’s North America segment has been renamed the United States segment. Teva aligned its internal financial and segment reporting and its reporting units in accordance with this change effective January 1, 2024. Prior period amounts have been recast to conform to the reporting structure for the current year. On January 31, 2024, Teva announced that it intends to divest its API business (including its R&D, manufacturing and commercial activities) through a sale. The intention to divest is in alignment with Teva’s Pivot to Growth strategy. However, there can be no assurance regarding the ultimate timing or structure of a potential divestiture or that a divestiture will be agreed or completed at all. See note 2.
a. | Segment information:
|  | Year ended December 31, |
|  | 2024 |
|  | United States |  |  | Europe |  |  | International Markets |
|  | (U.S. $ in millions) |
Revenues |  | $ | 8,034 |  |  | $ | 5,103 |  |  | $ | 2,463 |
Cost of sales |  |  | 3,646 |  |  |  | 2,197 |  |  |  | 1,229 |
R&D expenses |  |  | 633 |  |  |  | 229 |  |  |  | 112 |
S&M expenses |  |  | 1,049 |  |  |  | 826 |  |  |  | 534 |
G&A expenses |  |  | 410 |  |  |  | 272 |  |  |  | 150 |
Other loss (income) |  |  | § |  |  |  | 3 |  |  |  | (2 | )
Segment profit |  | $ | 2,296 |  |  | $ | 1,575 |  |  | $ | 440 |
§ | Represents an amount less than $0.5 million.
|  | Year ended December 31, |
|  | 2023 |
|  | United States |  |  | Europe |  |  | International Markets |
|  | (U.S. $ in millions) |
Revenues |  | $ | 7,731 |  |  | $ | 4,837 |  |  | $ | 2,351 |
Cost of sales |  |  | 3,421 |  |  |  | 2,111 |  |  |  | 1,191 |
R&D expenses |  |  | 604 |  |  |  | 220 |  |  |  | 104 |
S&M expenses |  |  | 938 |  |  |  | 767 |  |  |  | 487 |
G&A expenses |  |  | 378 |  |  |  | 263 |  |  |  | 142 |
Other loss (income) |  |  | (5 | ) |  |  | (2 | ) |  |  | (39 | )
Segment profit |  | $ | 2,394 |  |  | $ | 1,478 |  |  | $ | 465 |
|  | Year ended December 31, |
|  | 2022 |
|  | United States |  |  | Europe |  |  | International Markets |
|  | (U.S. $ in millions) |
Revenues |  | $ | 7,003 |  |  | $ | 4,525 |  |  | $ | 2,352 |
Cost of sales |  |  | 3,269 |  |  |  | 1,825 |  |  |  | 1,128 |
R&D expenses |  |  | 485 |  |  |  | 213 |  |  |  | 119 |
S&M expenses |  |  | 879 |  |  |  | 748 |  |  |  | 467 |
G&A expenses |  |  | 440 |  |  |  | 246 |  |  |  | 154 |
Other loss (income) |  |  | (3 | ) |  |  | (3 | ) |  |  | (54 | )
Segment profit |  | $ | 1,934 |  |  | $ | 1,496 |  |  | $ | 538 |
|  | Year ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | (U.S. $ in millions) |
United States profit |  | $ | 2,296 |  |  | $ | 2,394 |  |  | $ | 1,934 |
Europe profit |  |  | 1,575 |  |  |  | 1,478 |  |  |  | 1,496 |
International Markets profit |  |  | 440 |  |  |  | 465 |  |  |  | 538 |
Total reportable segments profit |  |  | 4,311 |  |  |  | 4,338 |  |  |  | 3,968 |
Profit of other activities |  |  | 18 |  |  |  | 24 |  |  |  | 172 |
Amounts not allocated to segments: |  |  |  |  |  |  |  |  |  |  | — |
Amortization |  |  | 588 |  |  |  | 616 |  |  |  | 732 |
Other assets impairments, restructuring and other items |  |  | 1,388 |  |  |  | 718 |  |  |  | 512 |
Goodwill impairment |  |  | 1,280 |  |  |  | 700 |  |  |  | 2,045 |
Intangible assets impairments |  |  | 251 |  |  |  | 350 |  |  |  | 355 |
Legal settlements and loss contingencies |  |  | 761 |  |  |  | 1,043 |  |  |  | 2,082 |
Other unallocated amounts |  |  | 364 |  |  |  | 502 |  |  |  | 610 |
Consolidated operating income (loss) |  |  | (303 | ) |  |  | 433 |  |  |  | (2,197 | )
Financial expenses, net |  |  | 981 |  |  |  | 1,057 |  |  |  | 966 |
Consolidated income (loss) before income taxes |  | $ | (1,284 | ) |  | $ | (624 | ) |  | $ | (3,163 | )
b. | Segment revenues by major products and activities:
The following tables present revenues by major products and activities for each segment for the year ended December 31, 2024, 2023 and 2022: United States segment:
|  | Year ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | (U.S. $ in millions) |
Generic products (including biosimilars) |  | $ | 3,599 |  |  | $ | 3,138 |  |  | $ | 3,155 |
AJOVY |  |  | 207 |  |  |  | 211 |  |  |  | 210 |
AUSTEDO |  |  | 1,642 |  |  |  | 1,225 |  |  |  | 963 |
BENDEKA and TREANDA |  |  | 168 |  |  |  | 237 |  |  |  | 309 |
COPAXONE |  |  | 242 |  |  |  | 297 |  |  |  | 359 |
UZEDY |  |  | 117 |  |  |  | 23 |  |  |  | — |
Anda |  |  | 1,536 |  |  |  | 1,577 |  |  |  | 1,471 |
Other* |  |  | 523 |  |  |  | 1,025 |  |  |  | 536 |
Total |  | $ | 8,034 |  |  | $ | 7,731 |  |  | $ | 7,003 |
* | Other revenues in 2024 include the sale of certain product rights. Other revenues in 2023 were mainly comprised of a $500 million upfront payment received in the fourth quarter of 2023, in connection with the collaboration on Teva’s duvakitug (anti-TL1A) asset (see note 2).
Europe segment:
|  | Year ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | (U.S. $ in millions) |
Generic products (including OTC and biosimilars) |  | $ | 3,926 |  |  | $ | 3,664 |  |  | $ | 3,466 |
AJOVY |  |  | 216 |  |  |  | 160 |  |  |  | 124 |
COPAXONE |  |  | 213 |  |  |  | 231 |  |  |  | 268 |
Respiratory products |  |  | 244 |  |  |  | 265 |  |  |  | 273 |
Other* |  |  | 504 |  |  |  | 516 |  |  |  | 393 |
Total |  | $ | 5,103 |  |  | $ | 4,837 |  |  | $ | 4,525 |
* | Other revenues in 2024 and 2023 include the sale of certain product rights.
International Markets segment:
|  | Year ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | (U.S. $ in millions) |
Generic products (including OTC and biosimilars) |  | $ | 1,937 |  |  | $ | 1,932 |  |  | $ | 1,980 |
AJOVY |  |  | 84 |  |  |  | 63 |  |  |  | 42 |
COPAXONE |  |  | 48 |  |  |  | 63 |  |  |  | 64 |
AUSTEDO |  |  | 46 |  |  |  | 15 |  |  |  | 8 |
Other* |  |  | 349 |  |  |  | 278 |  |  |  | 257 |
Total |  | $ | 2,463 |  |  | $ | 2,351 |  |  | $ | 2,352 |
* | Other revenues in 2024 include the sale of certain product rights.
Revenues are attributable to countries based on sales to third parties in such countries. Revenues within the United States constituted 49%, 49% and 47% of Teva’s consolidated revenues for the years ended December 31, 2024, 2023 and 2022, respectively. Revenues within the Company’s country of domicile (Israel) constituted 2%, 2% and 2% of Teva’s consolidated revenues for the years ended December 31, 2024, 2023 and 2022, respectively.
c. | Supplemental data—major customers:
The following table represents the percentage of consolidated third party net sales to Teva’s major customers during the years ended December 31, 2024, 2023 and 2022.
|  | Percentage of Third Party Net Sales |
|  | 2024 |  |  | 2023 |  |  | 2022 |
McKesson Corporation |  |  | 12 | % |  |  | 9 | % |  |  | 10 | %
AmerisourceBergen Corporation |  |  | 9 | % |  |  | 9 | % |  |  | 10 | %
Most of Teva’s revenues from these customers were in the United States segment.
d. | Property, plant and equipment—by geographical location were as follows:
|  | December 31, |
|  | 2024 |  |  | 2023 |
|  | (U.S. $ in millions) |
Israel |  | $ | 1,066 |  |  | $ | 1,312 |
Germany |  |  | 1,262 |  |  |  | 1,318 |
United States |  |  | 561 |  |  |  | 596 |
Croatia |  |  | 277 |  |  |  | 447 |
Czech republic |  |  | 206 |  |  |  | 309 |
Hungary |  |  | 83 |  |  |  | 279 |
Ireland |  |  | 261 |  |  |  | 266 |
Other |  |  | 865 |  |  |  | 1,222 |
Total property, plant and equipment |  | $ | 4,581 |  |  | $ | 5,750 |

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 8: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 9: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 10: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 11: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration