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Other assets impairments, restructuring and other items | 3 Months Ended
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Mar. 31, 2025
Other assets impairments, restructuring and other items | NOTE 12 – Other assets impairments, restructuring and other items:
|  | Three months ended March 31, |
|  | 2025 |  |  | 2024 |
|  | (U.S. $ in millions) |
Impairments of long-lived tangible assets (*) |  | $ | (44 | ) |  | $ | 599 |
Contingent consideration |  |  | 11 |  |  |  | 79 |
Restructuring |  |  | 14 |  |  |  | 13 |
Other |  |  | (2 | ) |  |  | (18 | )
Total |  | $ | (22 | ) |  | $ | 673 |
(*) | Including impairments related to exit and disposal activities.
Impairments In the three months ended March 31, 2025, Teva recorded income of $44 million under impairments of tangible assets, compared to an expense of $599 million in the three months ended March 31, 2024. The income for the three months ended March 31, 2025, was mainly related to the held for sale measurement of the API business (including its R&D, manufacturing and commercial activities), which includes a favorable impact related to the expected gain from the reclassification of currency translation adjustments. The expense for the three months ended March 31, 2024, was mainly related to the classification of a business venture in Japan as held for sale. Teva may record additional impairments in the future, to the extent it changes its plans on any given asset and/or the assumptions underlying such plans, as a result of its network consolidation activities and its “Pivot to Growth Strategy”. Contingent consideration In the three months ended March 31, 2025, Teva recorded an expense of $11 million for contingent consideration, compared to an expense of $79 million in the three months ended March 31, 2024. The expenses in the three months ended March 31, 2025, were mainly related to lenalidomide capsules (the generic version of Revlimid ® ) (mainly the effect of the passage of time on the net present value of the discounted payments). The expenses in the three months ended March 31, 2024, were mainly related to a change in the estimated future royalty payments to Allergan in connection with lenalidomide capsules (the generic version of Revlimid ® ) and a change in the estimated future royalty payments to Eagle in connection with expected future bendamustine sales. Restructuring In the three months ended March 31, 2025, Teva recorded $14 million of restructuring expenses, compared to $13 million in the three months ended March 31, 2024. Expenses for the three months ended March 31, 2025 and 2024 were primarily related to network consolidation activities. The following tables provide the components of the Company’s restructuring costs:
|  | Three months ended March 31, |
|  | 2025 |  |  | 2024 |
|  | (U.S. $ in millions) |
Restructuring |  |  |  |  |  |  |  |
Employee termination |  | $ | 12 |  |  | $ | 7 |
Other |  |  | 2 |  |  |  | 6 |
Total |  | $ | 14 |  |  | $ | 13 |
The following table provides the components of and changes in the Company’s restructuring accruals:
|  | Employee termination costs |  |  | Other |  |  | Total |
|  | (U.S. $ in millions) |
Balance as of January 1, 2025 |  | $ | (55 | ) |  | $ | (13 | ) |  | $ | (68 | )
Provision |  |  | (12 | ) |  |  | (2 | ) |  |  | (14 | )
Utilization and other* |  |  | 23 |  |  |  | 2 |  |  |  | 25 |
Balance as of March 31, 2025 |  | $ | (44 | ) |  | $ | (13 | ) |  | $ | (57 | )
|  | Employee termination costs |  |  | Other |  |  | Total |
|  | (U.S. $ in millions) |
Balance as of January 1, 2024 |  | $ | (75 | ) |  | $ | (7 | ) |  | $ | (82 | )
Provision |  |  | (7 | ) |  |  | (6 | ) |  |  | (13 | )
Utilization and other* |  |  | 32 |  |  |  | 7 |  |  |  | 39 |
Balance as of March 31, 2024 |  | $ | (50 | ) |  | $ | (6 | ) |  | $ | (57 | )
* | Includes adjustments for foreign currency translation.

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