Teva Pharmaceutical Industries Limited (TEVA) 20-F 15 Feb 17 2016 Q4 Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2016shares
Document And Entity Information [Abstract]
Document Type	20-F
Document Period End Date	Dec. 31, 2016
Amendment Flag	true
Amendment Description	N.A.
Current Fiscal Year End Date	--12-31
Entity Central Index Key	818,686
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Registrant Name	TEVA PHARMACEUTICAL INDUSTRIES LTD
Trading Symbol	TEVA
Entity Voluntary Filers	Yes
Entity Well Known Seasoned Issuer	Yes
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q4
Entity Common Stock Shares Outstanding	1,122,552,689

CONSOLIDATED STATEMENT OF INCOM

CONSOLIDATED STATEMENT OF INCOME - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
CONSOLIDATED STATEMENTS OF INCOME
Net revenues	$ 21,903	$ 19,652	$ 20,272
Cost of sales	10,044	8,296	9,216
Gross profit	11,859	11,356	11,056
Research and development expenses	2,111	1,525	1,488
Selling and marketing expenses	3,860	3,478	3,861
General and administrative expenses	1,236	1,239	1,217
Impairments restructuring and others	699	1,131	650
Legal Settlements And Loss Contingencies	899	631	(111)
Goodwill Impairment Charge	900	0	0
Operating income	2,154	3,352	3,951
Financial expenses - net	1,330	1,000	313
Income before income taxes	824	2,352	3,638
Income taxes	521	634	591
Share in (profits) losses of associated companies net	(8)	121	5
Net income	311	1,597	3,042
Net income (loss) attributable to non-controlling interests	(18)	9	(13)
Net income attributable to Teva	329	1,588	3,055
Accrued dividends on preferred shares	261	15	0
Net income attributable to ordinary shareholders	$ 68	$ 1,573	$ 3,055
Weighted average number of shares (in millions):
Basic	955	855	853
Diluted	961	864	858
Earnings per share attributable to ordinary shareholders:
Basic	$ 0.07	$ 1.84	$ 3.58
Diluted	$ 0.07	$ 1.82	$ 3.56

COMPREHENSIVE INCOME

COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Comprehensive Income [Abstract]
Net income	$ 311	$ 1,597	$ 3,042
Other Comprehensive Income (Loss), Net Of Tax [Abstract]
Currency translation adjustment	(445)	(1,102)	(1,440)
Unrealized gain (loss) on derivative financial instruments, net	(477)	135	237
Unrealized gain (loss) on available-for-sale securities, net	(319)	319	(12)
Unrealized gain (loss) on defined benefit plans	(23)	35	(43)
Total other comprehensive loss	1,264	613	1,258
Comprehensive Income (loss)	(953)	984	1,784
Comprehensive income (loss) attributable to non-controlling interests	78	(8)	19
Comprehensive income (loss) attributable to Teva	$ (875)	$ 976	$ 1,803

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 988	$ 6,946
Trade receivables	7,523	5,350
Inventories	4,954	3,966
Deferred income taxes, see note 1	0	735
Assets Held For Sale	841	0
Prepaid Expenses	1,362	910
Other Current Assets	1,293	491
Total current assets	16,961	18,398
Other non-current assets	1,235	2,341
Deferred Income Taxes	725	250
Property, plant and equipment, net	8,073	6,544
Identifiable intangible assets, net	21,487	7,675
Goodwill	44,409	19,025
Total assets	92,890	54,233
Current liabilities:
Short-term debt	3,276	1,585
Sales Reserves And Allowances	7,839	6,601
Trade payables	2,157	1,918
Employee Related Obligations	859	710
Accrued Expenses	3,405	1,681
Liabilities Held For Sale	116	0
Other current liabilities	867	510
Total current liabilities	18,519	13,005
Long-term liabilities:
Deferred income taxes	5,215	1,748
Other taxes and long term liabilities	1,639	1,195
Senior notes and loans	32,524	8,358
Total long term liabilities	39,378	11,301
Total liabilities	57,897	24,306
Teva shareholders' equity:
Preferred Shares	3,620	3,291
Ordinary shares	54	52
Additional paid-in capital	23,409	17,757
Retained earnings	13,607	14,851
Accumulated other comprehensive loss	(3,159)	(1,955)
Treasury shares	(4,194)	(4,227)
Stockholders' equity attributable to Teva shareholders	33,337	29,769
Non-controlling interests	1,656	158
Total equity	34,993	29,927
Total liabilities and equity	$ 92,890	$ 54,233

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - ₪ / shares shares in Millions	Dec. 31, 2016	Dec. 31, 2015
CONSOLIDATED BALANCE SHEETS
Ordinary shares, authorized	2,500	2,500
Ordinary shares, issued	1,123	1,016
Treasury, shares	108	108
Common Stock, Par or Stated Value Per Share	₪ 0.10	₪ 0.10
Preferred Stock Shares Issued	3.7	3.4
Preferred Stock Shares Authorized	5	5
Preferred Stock Par Or Stated Value Per Share	₪ 0.10	₪ 0.10

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) shares in Millions, $ in Millions	Total	Ordinary Shares Number of shares	Ordinary Shares Stated Value [Member]	Additional Paid In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Shares	Total Tevas share holders equity	Noncontrolling Interest	MCPS
Exercise Of Options By Employees And Vested RSUs	$ 514		$ 0	$ 408			$ (106)	$ 514
Exercise Of Options By Employees And Vested RSUs, shares		10
Stock-based compensation expense	95			95				95
Dividends To Ordinary Shareholders	(1,156)				$ (1,156)			(1,156)
Purchase of treasury shares	500						500	500
Balance at Dec. 31, 2013	22,636		50	13,628	12,535	$ (91)	3,557	22,565	$ 71
Shares, balance at Preiod End at Dec. 31, 2014		957
Balance at Dec. 31, 2014	23,355		50	14,121	14,436	(1,343)	3,951	23,313	42
Comprehensive Income (loss)	1,784				3,055	(1,252)		1,803	(19)
Disposition Of Non Controlling Interests	(14)								(14)
Shares, balance at Period Start at Dec. 31, 2013		947
Other	(4)	$ 0		(10)	2			(8)	4
Exercise Of Options By Employees And Vested RSUs	388		0	225			(163)	388
Exercise Of Options By Employees And Vested RSUs, shares		5
Ordinary shares issuance value	3,291		2	3,289				3,291
Ordinary shares issuance		54
Stock-based compensation expense	117			117				117
Dividends To Ordinary Shareholders	(1,155)				(1,155)			(1,155)
Purchase of treasury shares	439						439	439
Accrued Dividends to preferred shareholders	15				15			15
Acquisition of non-controlling interests	103								103
Shares, balance at Preiod End at Dec. 31, 2015		1,016
Balance at Dec. 31, 2015	29,927		52	17,757	14,851	(1,955)	4,227	29,769	158	$ 3,291
Comprehensive Income (loss)	984				1,588	(612)		976	8
Shares, balance at Period Start at Dec. 31, 2014		957
Mcps Issuance	3,291							3,291		3,291
Other	7	$ 0		5	(3)			2	5
Exercise Of Options By Employees And Vested RSUs	35		0	2			(33)	35
Exercise Of Options By Employees And Vested RSUs, shares		1
Ordinary shares issuance value	$ 5,391		2	5,389				5,391
Ordinary shares issuance	5.4	106
Stock-based compensation expense	$ 159			159				159
Dividends To Ordinary Shareholders	(1,303)				(1,303)			(1,303)
Shares, balance at Preiod End at Dec. 31, 2016		1,123
Balance at Dec. 31, 2016	34,993		$ 54	23,409	13,607	(3,159)	$ 4,194	33,337	1,656	3,620
Comprehensive Income (loss)	(953)				329	$ (1,204)		(875)	(78)
Dividends To Preferred Shareholders	(261)				(261)			(261)
Transactions With Non Controlling Interests	1,684			111				111	1,573
Shares, balance at Period Start at Dec. 31, 2015		1,016
Mcps Issuance	329							329		$ 329
Other	$ (15)	$ 0		$ (9)	$ (9)			$ (18)	$ 3

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Operating activities:
Net income	$ 311	$ 1,597	$ 3,042
Adjustments to reconcile net income to net cash provided by operations:
Depreciation and amortization	1,524	1,308	1,508
Net change in operating assets and liabilities	1,219	967	290
Deferred Income Taxes Net And Uncertain Tax Positions	15	237	(226)
Research and development in process	422	35	0
Translation adjustments due to Venezuela devaluations	603
Impairment of long lived assets	1,645	361	387
Impairment Of Equity Investment - Net		124
Stock-based compensation	124	117	95
Other items	(14)	146	24
Other-than-temporary impairment	140	736	6
Net (gain) loss from sale of long-lived assets and investments	(764)	(86)	1
Net cash provided by operating activities	5,225	5,542	5,127
Investing activities:
Acquisitions of businesses, net of cash acquired	(36,148)	(3,309)	(363)
Purchases of property, plant and equipment	(901)	(772)	(929)
Purchases of investments and other assets	(481)	(2,003)	(324)
Proceeds from sales of long-lived assets and investments	2,002	524	196
Other investing activities	(212)	(5)	(30)
Net cash used in investing activities	(35,740)	(5,565)	(1,450)
Financing activities:
Proceeds from issuance of ordinary shares, net of issuance costs	329	3,291
Proceeds from issuance of mandatory convertible preferred shares, net of issuance costs	329	3,291
Purchase of treasury shares	0	(439)	(500)
Net change in short-term debt	1,998	29	(385)
Dividends paid on ordinary shares	(1,303)	(1,155)	(1,156)
Dividends paid on preferred shares	(255)	0	0
Proceeds from exercise of options by employees	35	388	514
Proceeds from long-term loans and other long-term liabilities, net of issuance costs	25,252	2,099	0
Repayment of long-term loans And Other Long Term Liabilities	(999)	(2,521)	(839)
Other financing activities	(169)	(178)	(9)
Net cash provided by (used in) financing activities	25,217	4,805	(2,375)
Translation adjustment on cash and cash equivalents	(660)	(62)	(114)
Net change in cash and cash equivalents	(5,958)	4,720	1,188
Balance of cash and cash equivalents at beginning of period	6,946	2,226	1,038
Balance of cash and cash equivalents at end of period	988	6,946	2,226
Supplemental disclosure of cash flow information
Cash paid during the year for Interest	290	243	294
Cash paid during the year for Income taxes, net of refunds	341	802	675
Shares Issuance To Allergan plc for the Actavis Generics acquisition	5,065	0	0
Shares Transferred To Takeda As Part Of The Establishment Of Teva Takeda	1,825	0	0
Actavis Generics Contingent Consideration	302	0	0
Net change in operating assets and liabilities
Trade Receivable	343	763	710
Inventories	372	129	230
Other current assets	(517)	87	(36)
Trade payable accrued expenses employee related obligations and other current liabilities	640	(12)	(614)
Inventory Step Up	381	0	0
Net change in operating assets and liabilities	$ 1,219	$ 967	$ 290

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2016
Significant Accounting Policies [Abstract]
Basis Of Presentation And Significant Accounting Policies	TEVA PHARMACEUTICAL INDUSTRIES LIMITED Notes to Consolidated Financial Statements NOTE 1—SIGNIFICANT ACCOUNTING POLICIES: General: Operations Teva Pharmaceutical Industries Limited (the “Parent Company”), headquartered in Israel, together with its subsidiaries and associated companies (the “Company,” “ Teva ” or the “Group”), is engaged in the development, manufacturing, marketing and distribution of generic, specialty, and other pharmaceutical products. The majority of the Group's revenues are in the United States and Europe . The Group's main manufacturing facilities are located in Israel, Hungary, United States, Germany, Canada, Japan, Ireland, the United Kingdom, the Czech Republic, Croatia, Italy , Bulgaria and India. Accounting principles The consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States (“U . S . GAAP”). Functional currency A major part of the Group's operations is carried out by the Company in the United States, Israel and certain other countries. The functional currency of these entities is the U.S. dollar (“dollar” or “$”). The functional currency of certain subsidiaries and associated companies is their local currency. The financial statements of those companies are included in the consolidated financial statements, translated into U.S. dollars. Assets and liabilities are translated at year-end exchange rates, while revenues and expenses are translated at monthly average exchange rates during the year. Differences resulting from translation are presented as other comprehensive income in the consolidated statements of comprehensive income (loss) . The financial statements for Teva's Venezuelan business, which has a highly inflationary economy , are re - measured as if the functional currency was the U.S. dollar, Teva's reporting currency, using certain exchange rates determined by Teva's management . A highly inflationary economy is one that has cumulative inflation of approximately 100 percent or more over a 3-year period. See note 16a. Principles of consolidation The consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries and Variable Interest Entities ("VIEs") for which the Company is considered the primary beneficiary. For those consolidated subsidiaries where Teva owns less than 100%, the outside shareholders' interests are shown as non-controlling interests in equity. Investments in affiliates over which the Company has significant influence but not a controlling interest, are carried on the equity basis. For VIEs, the Company performs an analysis to determine whether the variable interests give a controlling financial interest in a VIE. The Company periodically reassesses whether it controls its VIEs. Intercompany transactio ns and balances are eliminated o n consolidation; profits from intercompany sales, not yet realized outside the Group, are also eliminated. Use of estimates in the preparation of financial statements The preparation of financial statements in conformity with U . S . GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reported years. Actual results could differ from those estimates. As applicable to these consolidated financial statements, the most significant estimates and assumptions relate to purchase price allocation on acquisitions including determination of useful liv es and contingent consideration; determining the valuation and recoverability of intangible assets and goodwill ; and assessing sales reserves and allowances, uncertain tax positions, valuation allowances, contingencies, inventory valuation and restructuring. New accounting pronouncements Recently adopted accounting pronouncements In March 2016, the Financial Accounting Standards Board (“FASB”) issued guidance on stock compensation. The guidance is intended to simplify several aspects of the accounting for share-based payments, including income tax consequences, classification of awards as either equity or liabilities, accounting for forfeitures and classification in the st atement of cash flows. Teva adopted the provisions of this update during the second quarter of 2016. The guidance did not have a material impact on Teva's consolidated financial statements. In November 2015, the FASB issued guidance on balance sheet classification of deferred taxes. The guidance requires entities to present all deferred tax assets and liabilities, along with any related valuation allowance, as non-current on the balance sheet. Teva adopted the provisions of this update prospectively during the third quarter of 2016. The impact of the change in presentation is that net current deferred tax as sets totaling approximately $9 78 million as of December 31, 2016 have been reclassified to non-current assets or long- term liabilities, as appropriate. In September 2015, the FASB issued guidance on current accounting for measurem ent period adjustments. The guidance requires entities to recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. Measurement period adjustments were previously required to be retrospectively adjusted as of the acquisition date. This pronouncement is effective commencing January 1, 2016. The impact of the new guidance resulted in the measurement period adjustments described in note 2 to be recognized in the fourth quarter of 2016, rather than adjusted retrospectively. Recently i ssued accounting pronouncements , not yet adopted In January 2017, the FASB issued guidance on goodwill impairment testing. The new guidance reduces the complexity of goodwill impairment tests by no longer requiring entities to determine goodwill impairment by calculating the implied fair value of goodwill by assigning the fair value of a reporting unit to all of its assets and liabilities as if that reporting unit had been acquired in a business combination. The guidance will be effective for the fiscal year beginning on January 1, 2020, including interim periods within that year (early adoption is permitted). Teva is currently evaluating the potential effect of the guidance on its consolidated financial statements. In January 2017, the FASB issued guidance on the differentiation between acquisitions of assets and businesses. The new guidance dictates that , when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of si milar identifiable assets, it should be treated as a n acquisition or disposal of an asset. The guidance will be effective for the fiscal year beginning on January 1, 2018, including interim periods within that year (early adoption is permitted). Teva is currently evaluating the potential effect of the guidance on its consolidated financial statements. In November 2016, the FASB issued guidance on the treatment of restricted cash in the statements of cash flows. Amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The guidance will be effective for the fiscal year beginning on January 1, 2018, including interim periods within that year (early adoption is permitted). Teva does not anticipate a material impact on its consolidated financial statements. In October 2016, the FASB issued guidance on accounting for consolidation of interests held through related parties that are under common control. The amended guidance designates the primary beneficiary of a VIE as the reporting entity that has a controlling financial interest in a VIE and, therefore, consolidates the VIE. A reporting entity has an indirect interest in a VIE if it has a direct interest in a related party that, in turn, has a direct interest in the VIE. The guidance is effective for the fiscal year beginning on January 1, 2017, including interim periods within that year. Teva does not anticipate a material impact on its consolidated financial statements. In October 2016, the FASB issued guidance on income taxes on intra-entity transfers. The guidance eliminates the exception to the recognition requirements under the standard for intra-entity transfers of an asset other than inventory. As a result, an entity should recognize the income tax consequences when the transfer of assets other than inventory occurs. The guidance will be effective for the fiscal year beginning on January 1, 2018, including interim periods within that year (early adoption is permitted). Teva is currently evaluating the potential effect of the guidance on its consolidated financial statements. In August 2016, the FASB issued guidance on statements of cash flows. The guidance addresses eight specific issues: debt prepayment or debt extinguishment costs; settlement of certain debt instruments; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned life insurance policies; distributions received from equity method investees; beneficial interest in securitization transactions; separately identifiable cash flows and application of predominance principle. The guidance will be effective for the fiscal year beginning on January 1, 2018, including interim periods within that year (early adoption is permitted). Teva is currently evaluating the potential effect of the guidance on its consolidated financial statements. In June 2016, the FASB issued guidance on financial instruments. The guidance replaces the current incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The guidance will be effective for the fiscal year beginning on January 1, 2020, including interim periods within that year. Teva is currently evaluating the potential effect of the guidance on its consolidated financial statements. In February 2016, the FASB issued guidance on leases. The guidance requires entities to record lease assets and lease liabilities on the balance sheet and disclose key information about leasing arrangements. The guidance will become effective for interim and annual periods beginning on January 1, 2019 (early adoption is permitted) and is required to be adopted at the earliest period presented using a modified retrospective approach. Teva is currently evaluating the potential effect of the guidance on its consolidated financial statements. In January 2016, the FASB issued guidance which updates certain aspects of recognition, measurement, presentation and disclosure of equity investments. The guidance requires entities to recognize changes in fair value in net income rather than in accumulated other comprehensive income. The guidance will be effective for interim and annual periods beginning on January 1, 2018 (early adoption is permitted). Teva is currently evaluating the potential effect of the guidance on its consolidated financial statements. In May 2014, the FASB issued guidance on revenue from contracts with customers that will supersede most current revenue recognition guidance, including industry-specific guidance. Under the new standard, a good or service is transferred to the customer when (or as) the customer obtains control of the good or service, which differs from the risk and rewards approach under current guidance. The guidance provides a five-step analysis of transactions to determine when and how revenue is recognized. Other major provisions include capitalization of certain contract costs, consideration of the time value of money in the transaction price, and allowing estimates of variable consideration to be recognized before contingencies are resolved in certain circumstances. The guidance also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from an entity's contracts with customers. In March, April and May 2016, the FASB issued three additional updates regarding identifying performance obligations and licensing, certain principal versus agent considerations, and various narrow scope improvements based on practical questions raised by users. The guidance may be adopted through either retrospective application to all periods presented in the financial statemen ts (full retrospective approach) or t hrough a cumulative effect adjustment to retained earnings at the effective date (m odified retrospective approach) . The guidance will be effective for the fiscal periods beginning on January 1, 2018 (early adoption is permitted). While Teva has not yet completed its final review of the impact of the new standard, Teva does not currently anticipate a material impact on its revenue recognition practices. Teva continue s to review variable consideration and potential disclosures to complete its evaluation of the impact on its consolidated financial statements. In addition Teva continue s to monitor additional changes, modifications, clarifications or interpretations that may impact its current conclusions. Teva expects to adopt the new standard using the modified retrospective approach. Acquisitions: Teva's consolidated financial statements include the operations of an acquired business from the date of the acquisition's c onsummation. A cquired businesses are accounted for using the acquisition method of accounting, which requires, among other things, that most assets acquired and liabilities assumed be recognized at their estimated fair values as of the acquisition date and that the fair value of acquired in process research and development ("IPR&D") be recorded on the balance sheet. Transaction costs are expensed as incurred. Any excess of the consideration transferred over the assigned values of the net assets acquired i s recorded as goodwill. When Teva acquire s net assets that do not const itute a business, as defined under U.S. GAAP, no goodwill is recognized and acquired IPR&D is expensed. Contingent considerati on incurred in a business combination is included as part of the acquisition price and recorded at a probability weighted assessment of their fair value as of the acquisition date. The fair value of the contingent consideration is re - measured at each reporting period , with any adjustments in fair value recognized in earnings under impairments, restructuring and others. Collaborative arrangements: Collaborative agreements are contractual arrangements in which the parties are active participants to the arrangement and are exposed to the significant risks and rewards that are dependent on the ultimate commercial success of the endeavor. The Company recognizes revenue generated and costs incurred on sales to third parties as it relate to a collaborative agreement as gross or net. If the Company is the principal participant in a transaction, revenues and costs are recorded on a gross basis; otherwise, revenues are recorded on a net basis. Investee companies: Investments in entities in which the Company has a significant influence are accounted for using the equity method and included within other non-current assets. Under the equity method, the Company generally recognizes its proportionate share of comprehensive income or loss of the entity. Other non-marketable equity investments are carried at cost. The Company also reviews these investments for impairment whenever events indicate the carrying amount may not be recoverable. Impairments on investee companies are recorded in the income statement under share in profits or losses of associated companies – net. Fair value measurement: The Company measures fair value and discloses fair value measurements for financial assets and liabilities. Fair value is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The accounting standard establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three broad levels, which are described below: Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs. Level 2: Observable inputs that are based on inputs not quoted on active markets, but corroborated by market data. Level 3: Unobservable inputs are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible and considers counterparty credit risk in its assessment of fair value. Investment in securities: Investment in securities consists mainly of debt and equity securities classified as available-for-sale and recorded at fair value. The fair value of quoted securities is based on current market value. When debt securities do not have an active market, fair value is determined using a valuation model. This model is based on reference to other instruments with similar characteristics, or a discounted cash flow analysis, or other pricing models making use of market inputs and relying as little as possible on entity-specific inputs. Unrealized gains of available for sale securities, net of taxes, are reflected in other comprehensive income. Unrealized losses considered to be temporary are reflected in other comprehensive income; unrealized losses that are considered to be other-than-temporary are charged to income as an impairment charge. Realized gains and losses for both debt and equity securities are included in financial expense, net. The Company considers available evidence in evaluating potential impairments of its investments, including the duration and extent to which fair value is less than cost, and for equity securities, the Company's ability and intent to hold the investment for the length of time necessary to allow for the recovery of the market value. For debt securities, an other -than-temporary impairment has occurred if the Company does not expect to recover the entire amortized cost basis of the debt security. If the Company does not intend to sell the impaired debt security, and it is not more likely than not it will be required to sell the debt security before the recovery of its amortized cost basis, the amount of the other-than-temporary impairment recognized in earnings, recorded in financial expense, net, is limited to the portion attributed to credit loss. The remaining portion of the other-than-temporary impairment related to other factors is recognized in other comprehensive income. Cash and cash equivalents: All highly liquid investments, which include short-term bank deposits and money market instruments, that are not restricted as to withdrawal or use, and investment in short-term debentures, the period to maturity of which did not exceed three months at the time of investment, are considered to be cash equivalents. Trade receivables: Trade receivables are stated at their net realizable value. The allowance against gross trade receivable reflects the best estimate of probable losses inherent in the receivables portfolio determined on the basis of historical experience, specific allowances for known troubled accounts and other currently available information. As of December 31, 2016 and December 31, 2015 , an allowance for doubtful debts of $191 million and $146 million, respectively, is reflected in net trade receivables. Trade receivables are written off after all reasonable means to collect the full amount have been exhausted. Concentration of credit risks: Most of Teva's cash and cash equivalents (which , along with investment in securities , totaled $1.9 billion at December 31, 2016) were deposited with financially sound European, U.S. and Israeli banks and financial institutions and were comprised mainly of cash deposits. The pharmaceutical industry, particularly in the U.S., has been significantly affected by consolidation among managed care providers, large pharmacy chains, wholesaling organizations and other buyer gro ups. The U.S. market constituted approximately 53% of Teva's consolidated revenues in 2016 and a relatively small portion of total trade accounts after netting amounts in sales, reserves and allowances. The exposure of credit risks relating to other trade receivables is limited, due to the relatively large number of group customers and their wide geographic distribution. Teva performs ongoing credit evaluations of its customers for the purpose of determining the appropriate allowance for doubtful accounts and generally does not require collateral. An appropriate allowance for doubtful accounts is included in the accounts and netted against trade receivables . Inventories: Inventories are valued at the lower of cost or net realizable value. Cost of raw and packaging materials, purchased products, manufactured finished products, products in process and capitalized production costs are determined predominantly on a standard cost basis, approximating average costs. Other methods which are utilized for determining the value of inventories are moving average, cost basis and the first in first out method. Teva regularly reviews its inventories for impairment and reserves are established when necessary. Inventories acquired in a business combination are stepped-up to their estimated fair value and amortized to cost of sales as that inventory is sold. Long-lived assets: Teva's long-lived, non-current assets are comprised mainly of goodwill, identifiable intangible assets and property, plant and equipment. All long-lived assets are monitored for impairment indicators throughout the year. Impairment testing for goodwill and all identifiable intangible assets is performed at least annually. When necessary, charges for impairments of long-lived assets are recorded for the amount by which the fair value is less than the carrying value of these assets. Goodwill Goodwill reflects the excess of the consideration transferred, including the fair value of any contingent consideration and any non-contr olling interest in the acquire e , over the assigned fair values of the identifiable net assets acquired. Goodwill is not amortized, and is assigned to reporting units and tested for impairment at least on an annual basis , in the fourth quarter of the fiscal year . The goodwill impairment test is performed according to the following principles: An initial qualitative assessment may be performed to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying amount. If the Company concludes it is more likely than not that the fair value of the reporting unit is less than its carrying mount, a quantitative fair value test is performed. T he first step of the quantitative fair value test compares the fair value of the reporting units to the carrying value of net assets allocated to the reporting units. If the fair value of the reporting unit exceeds the carrying value of the net assets allocated to that unit, goodwill is not impaired . If the carrying value of the reporting unit exceeds the fair value, the second step of the quantitative fair value test is performed. In the second step, the reporting unit's implied fair value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination or an acquisition would be determined. That is, the fair value of a reporting unit is assigned to all of the assets and liabilities of that unit, including any unrecognized intangible assets, as if the reporting unit had been acquired in a business combination. If the implied fair value of the reporting unit's goodwill is less than its carrying value, the difference is recorded as an impairment. Identifiable intangible assets Identifiable intangible assets are comprised of definite life intangible assets and indefinite life intangible assets. Definite life intangible assets consist mainly of acquired product rights and other rights relating to products for which marketing approval was received from the U.S. Food and Drug Administration (“FDA”) or the equivalent agencies in other countries. These assets are amortized using mainly the straight-line method over their estimated period of useful life, or based on economic benefit models, if more appropriate, which is determined by identifying the period and manner in which substantially all of the cash flows are expected to be generated. Amortization of acquired developed products is recorded under cost of sales. Amortization of marketing and distribution rights is recorded under selling and marketing expenses. W henever impairment indicators are identified for definite life intangible assets , Teva reconsiders the asset's estimated life, calculates the undiscounted value of the asset's or asset group's cash flows and compares such value against the asset's or asset group's carrying amount. If the carrying amount is greater, Teva records an impairment loss for the excess of book value over fair value based on the discounted cash flows. Indefinite life intangible assets are mainly comprised of research and development in-process assets. Teva monitors these assets for items such as research and development milestones and progress to identify any triggering events. Annually or when triggering events are present, Teva determines the fair value of the asset based on discounted cash flows and records an impairment loss if book value exceeds fair value. I PR&D acquired in a business combination is capitalized as an indefinite life intangible asset until the related research and development efforts are either completed or abandoned. In the reporting period where they are treated as indefinite life intangible assets, they are not amortized but rather are monitored triggering events and tested for impairment. Upon completion of the related research and development efforts, management determines the useful life of the intangible assets and amortizes them accordingly. In case of abandonment, the related research and development assets are impaired. Property, plant and equipment Property, plant and equipment are stated at cost, after deduction of the related investment grants, and depreciated using the straight-line method over the estimated useful life of the assets: buildings, mainly 40 years; machinery and equipment, mainly between 15 to 20 years; and other assets, between 5 to 10 years. For property, plant and equipment, whenever impairment indicators are identified, Teva reconsiders the asset's estimated life, calculates the undiscounted value of the asset's cash flows and compares such value against the asset's carrying amount. If the carrying amount is greater, Teva records an impairment loss for the excess of book value over fair value. Contingencies: The Company is involved in various patent, product liability, commercial, government investigations, environmental claims and other legal proceedings that arise from time to time in the ordinary course of business. Except for income tax contingencies or contingent consideration or other contingent liabilities incurred or acquired in a business combination, Teva records accruals for these types of contingencies to the extent that Teva concludes their occurrence is probable and that the related liabilities are estimable. When accruing these costs, the Company will recognize an accrual in the amount within a range of loss that is the best estimate within the range. When no amount within the range is a better estimate than any other amount, the Company accrues for the minimum amount within the range. Teva records anticipated recoveries under existing insurance contracts that are virtually certain of occurring at the gross amount that is expected to be collected. Legal costs are expensed as incurred. Treasury shares: Treasury shares are held by Teva's subsidiaries and presented as a reduction of Teva shareholders' equity and carried at their cost to Teva , under treasury shares. Stock-based compensation: Teva recognizes the estimated fair value of share-based awards, restricted share units (“RSUs”) and performance share units ("PSUs") under stock-based compensation costs. The compensation expense for PSUs is recognized only if it is probable that the performance condition will be achieved. Teva measures compensation expense for share-based awards based on estimated fair values on the date of grant using the Black- Scholes option-pricing model. This option pricing model requires estimates as to the option's expected term and the price volatility of the underlying stock. Teva measures compensation expense for the RSUs and PSUs based on the market value of the underlying stock at the date of grant, less an estimate of dividends that will not accrue to the RSU and PSU holders prior to vesting. Deferred income taxes: Deferred income taxes are determined utilizing the “asset and liability” method based on the estimated future tax effects of temporary differences between the financial accounting and tax basis of assets and liabilities under the applicable tax laws, and on tax rates anticipated to be in effect when the deferred income taxes are expected to be paid or realized. A valuation allowance is provided if, based upon the weight of available evidence, it is more likely than not that a portion of the deferred income tax assets will not be realized. In determining whether a valuation allowance is needed, Teva considers all available evidence, including historical information, long range forecast of future taxable income and evaluation of tax planning strategies. Amounts recorded for valuation allowance can result from a complex series of judgments about future events and can rely on estimates and assumptions. Deferred income tax liabilities and assets are classified as non-current in accordance with the accounting standard update issued in November 2015 and adopted by Teva in the third quarter of 2016 (refer further to note 1(b )). Deferred tax has not been provided on the following items: Taxes that would apply in the event of disposal of investments in subsidiaries, as it is generally the Company's intention to hold these investments, not to realize them. The determination of the amount of related unrecognized deferred tax liability is not practicable. Amounts of tax-exempt income generated from the Company's current Approved Enterprises and unremitted earnings from foreign subsidiaries retained for reinvestment in the Group. See note 15f. Uncertain tax positions: Teva recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. The tax benefit recognized in the financial statements for a particular tax position is based on the largest benefit that is more likely than not to be realized. Teva regularly re-evaluates its tax positions based on developments in its tax audits, statute of limitations expirations, changes in tax laws and new information that can affect the technical merits and change the assessment of Teva's ability to sustain the tax benefit. In addition, the Company classifies interest and penalties recognized in the financial statements relating to uncertain tax position under the income taxes line item. Provisions for uncertain tax positions, whereas Teva has net operating losses to offset additional income taxes that would result from the settlement of the tax position, are presented as a reduction of the deferred tax assets for such net operating loss. Derivatives and hedging: The Group carries out transactions involving derivative financial instruments (mainly forward exchange contracts, written and purchased currency options, cross-currency swap contracts, interest rate swap contracts and treasury locks). The transactions are designed to hedge the Company's currency and interest rate exposures. The Company does not enter into derivative transactions for trading purposes. Derivative instruments are recognized

CERTAIN TRANSACTIONS

CERTAIN TRANSACTIONS	12 Months Ended
	Dec. 31, 2016
Certain Transactions [Abstract]
Certain Transactions	NOTE 2 – Certain transactions: Business transactions: Actavis Generics and Anda acquisition s : On August 2, 2016, Teva consummated its acquisition of Allergan plc's worldwide generic pharmaceuticals business (“ Actavis Generics”). At closing, Teva transferred to Allergan consideration of approximately $33.4 billion in cash and approximately 100.3 million Teva shares. The acquisition significantly expanded Teva's generics product portfolio and pipeline, R&D capabilities and global operational network. On October 3, 2016, Teva consummated the acquisition of Anda Inc. (“ Anda ”), the fourth largest distributor of generic pharmaceuticals in the United States, from Allergan plc, for cash consideration of $500 million. The purchase is a transaction related to the Actavis Generics acquisition, and as such the purchase price accounting and related disclosures have been treated on a combined basis. In July 2016, Teva completed debt issuances for an aggregate principal amount of $20.4 billion, or $20.3 billion in net proceeds, consisting of senior notes with aggregate principal amounts of $15 billion, €4 billion and CHF 1 billion and maturities of between two to 30 years. The effective average interest rate of these notes is 2.32% per annum. At the closing of the Actavis Generics acquisition, Teva borrowed $5 billion under its term loan facility with a syndicate of banks. The term facility is split into two tranches of $2.5 billion each, with the first tranche maturing in 2018 and the second tranche maturing in 2020 with payment installments each year (see note 11 ). In addition, Teva terminated its $22 billion bridge loan credit agreement. Teva financed the cash consideration with the amounts mentioned above, in addition to approximately $8.1 billion from cash on hand, including from its December 2015 equity offerings, and borrowings under its syndicated revolving line of credit. Debt issuance and term loan facilities related costs of approximately $0.1 billion were incurred as part of the financing arrangements, and were capitalized under senior notes and loans in the consolidated balance sheets. Total equity issuance costs of approximately $0.2 billion related to the transaction were offset against the proceeds received from the issuances. In 2015 and 2016, Teva incurred approximately $1 43 million costs associated with the Actavis Generics and Anda transaction s , of which approximately $ 96 million was incurred in 2016. These expenses are included in impairment, restructuring and others and financial expenses, as applicable, in Teva's consolidated statements of income. The following table summarizes the consideration transferred to acquire Actavis Generics and Anda : Fair value of consideration transferred: U.S.$ in millions Cash $ 33,920 Ordinary shares (1) 5,065 Contingent consideration (2) 302 Equity based compensation 25 Total fair value of consideration transferred $ 39,312 (1) Represents approximately 100.3 million shares at a price per share of $50.5 0 at August 1, 2016, which has been adjusted for a lack of marketability discount factor of 5.8% . (2 ) The contingent consideration relates to sharing of profits of one specific produ ct currently in development . Its fair value is based on the estimated future cash outflows, utilizing the same probability assessment that was applied on the related IPR&D. Refer further to note 3 . The table below summarizes the preliminary estimates of the fair value of the assets acquired and liabilities as sumed and resulting goodwill. These values are not yet finalized and are subject to change, which could be significant. The amounts recognized and associated amortization periods will be finalized as the information necessary to complete the analyses is obtained, but no later than one year from the acquisition date ( “ the measurement period ” ). Recognized amounts of identifiable assets acquired and liabilities assumed: U.S.$ in millions Preliminary values at September 30, 2016 Measurement period adjustments, and impact of Anda acquisition Preliminary values at December 31, 2016 Cash and cash equivalents $ 82 2 84 Trade receivables (1) 2,995 216 3,211 Inventories 1,463 207 1,670 Other current assets (2) 2,218 (168) 2,050 Property, plant and equipment 1,605 (235) 1,370 Other non-current assets 19 5 24 Identifiable intangible assets: (3) Product rights 16,486 (7,846) 8,640 Trade names / customer relationships - 417 417 In-process research and development (4) 3,999 1,007 5,006 Goodwill 19,630 4,562 24,192 Total assets acquired 48,497 (1,833) 46,664 Sales reserves and allowances 1,912 76 - 1,988 Trade payables 241 200 - 441 Employee related obligations 118 16 134 Accrued expenses (5) 839 81 - 920 Other current liabilities 654 (278) - 376 Deferred income taxes and other non-current liabilities 6,215 (2,722) - 3,493 Total liabilities assumed 9,979 (2,627) 7,352 Net assets acquired $ 38,518 794 (6) 39,312 (1) As of the acquisition date, the fair value of trade receivables approximated the book value acquired. The gross contractual amount receivable was $3, 313 million, of which approximately $102 million was not expected to be collected. (2) Other current net assets related to divestitures were approximately $ 1,647 million. ( 3 ) The fair value adjustment estimate of identifiable intangible assets is preliminary and is determined using the “income approach,” which is a valuation technique that estimate s the fair value of an asset based on market participants' expectations of the cash flows an asset would generate over its remaining useful life. ( 4 ) The estimated weighted average amortization period of the acquired product rights is 1 2 years. ( 5 ) In the ordinary course of business, Actavis Generics incurred contingent and other liabilities. Except as specifically excluded by the relevant accounting standard, contingencies are required to be measured at fair value as of the acquisition date. A liability of $ 513 million for litigation matters was assumed by Teva in connection with the acquisition . Refer further to note 1 3 for contingencies. ( 6 ) Increase predominantly represe nts cash consideration for Anda and additional contingent consideration as a result of adjusted purchase price assessments. Goodwill is largely attributable to expected synergies following the acquisition, as well as future economic benefits arising from other assets acquired that could not be separately recognized at this time . Goodwill is not deductible for tax purposes , and was allocated to the generic medicines segment and other activities, see note 7. Purchase price allocated to intangibles primarily represents developed products already marketed and IPR&D. Approximately $8. 6 billion was allocated from the purchase price to developed products and $5. 0 billion to IPR&D. For both developed products and IPR&D, net cash flows were discounted to present values, using a range of discount rates from 7% to 11% . O ther assumptions reflect stage of development, nature and timing of efforts for completion, and other risks and uncertainties. Identifiable intangible assets were valued using a variation of the income approach known as the “Multi-Period Excess Earnings Approach”. This uses a forecast of expected cash flows, cash outflows and contributory charges for economic returns on tangible and intangible assets employed. IPR&D represents development in process which as of the closing date, had substance, where process to date is more than insignificant but had not yet reached completeness. As it relates to this acquisition, Teva considered all products that had at least begun processing the testing to demonstrate bioequivalence but had not yet received final approval from the FDA to be part of IPR&D. There are approximately 200 products or product groups included in this allocation. A probability of success factor was used to reflect inherent technological and regulatory risks. The measurement period adjustments related to the identifiable intangible assets acquired represent the impact of updated cash flow projections on the fair value of the assets. The updated projections incorporated additional information obtained subsequent to the closing of the transaction, which included updated product and market based assumptions, as well as consideration of duplicati ve products. The consequential reduction of amortization of product rights from the date of the acquisition's consummation is approximately $2 89 million, and was recognized as income in the period. The final cash consideration payable is subject to certain net working capital adjustments, which have been estimated at closing based on a preliminary analysis in the amount of $223 million. The preliminary net working capital adjustment was reflected in operating cash flow. Teva is currently in negotiations with Allergan as to the final amount of the working capital adjustment to be received by Teva . Should the amount be higher than the preliminary adjustment , it would reduce the purchase consideration, as well as goodwill if settle ment is reached within the measurement period. The acquired businesses contributed an estimated $2. 4 billion of revenue to Teva's consolidated statements of income from August 2, 2016 to December 31, 2016, of which $1,995 milli on was generated in the generic medicines operating segment and $3 82 million in other activities . Due to the extent of integration of Actavis Generics and Anda , it is impracticable to determine the contributed earnings of the acquired businesses for the relevant period. The following table provides supplemental pro forma information as if the Actavis Generics and Anda business combination s had occurred on January 1, 2015: Pro forma twelve months ended December 31, (Unaudited) 2016 2015 Net revenue $ 25,601 $ 26,812 Net (loss) income attributable to Teva (791) 1,427 Basic earnings per share attributable to Teva shareholders (1.04) 0.90 Diluted earnings per share attributable to Teva shareholders (1.04) 0.89 The unaudited supplemental pro forma data reflects the his torical information of Teva , Actavis Generics and Anda adjusted for: ( i ) Teva's accounting policies as applied to the results of Actavis Generics and Anda , (ii) the additional depreciation and amortization that would have been charged assuming the fair value adjustments to property, plant and equipment, and intangible assets had been applied from January 1, 2015, (iii) the impact on revenues and gross profit of products required to be divested , (iv) the recognition of non-recurring costs and income directly attributable to the acquisition s , including the impact of divestitures and inventory step up, as if they had been incurred on January 1, 2015 , (v) the recognition of certain purchase price allocation adjustments, amounting to approximately $538 million before taxes, as if they had been adjusted for prior to the consummation of the acquisition s , (vi) estimated additional finance expenses incurred as a result of borrowings used to finance the acquisition s as if they had been entered into on January 1, 2015, and (vii) consequential tax effects. The unaudited pro forma summary is not intended to reflect what Teva's results of operations would have been had the acquisition s occurred on January 1, 2015, and is not necessarily indicative of the results of future operations of Teva nor does it reflect the expected synergies associated with the acquisition s . Teva's actual results of operations may differ significantly from the pro forma adjustments reflected here due to many factors. The unaudited supplemental pro forma information includes various assumptions, including the preliminary purchase price allocation of the assets acquired and the liabilities incurred and assumed in connection with the acquisition s . In order to complete the Actavis Generics acquisition, Teva was required by the U . S . Federal Trade Commission ( " FTC " ) to divest certain Actavis Generics and Teva products. The sale of the Teva legacy products resulted in a net gain of $ 720 million which was recognized on disposal, and recorded in impairments, restructuring and others in the consolidated statements of income in the third quarter of 2016 . A portion of the divestiture was considered a sale of a business, for which the respective gain includes the disposal of the estimated fair value of goodwill associated with the business, which was $99 million. Proceeds from the sale of the business and Actavis Generics and Teva assets were approximately $527 million and $1,218 million , respectively. On October 5, 2016 , Teva entered into an agreement to sell certain assets and operations of Actavis Generics in the U . K . and Ireland. The related results of operations from the discontinued operations is not significant to Teva's consolidated statements of income , and therefore the effect on revenues and net income has not bee n disclosed separately. This transaction closed on January 9, 2017. The table below summarizes the major classes of assets and liabilities included as held for sale as at December 31 , 2016. Carrying amounts of major classes of assets included as held for sale: U.S.$ in millions Trade receivables $ 59 Inventories 63 Other current assets 1 Deferred income taxes 7 Property, plant and equipment, net 36 Identifiable intangible assets, net 633 Total assets of the disposal group classified as held for sale in the consolidated balance sheets $ 799 Trade payables and accrued expenses $ 83 Other current liabilities 10 Other taxes and long-term liabilities 23 Total liabilities of the disposal group classified as held for sale in the consolidated balance sheets $ 116 In addition, a ssets held for sale at December 31 , 2016 include other divestitures related to the acquisition of Actavis Generics , which are not significant to Teva . Other transactions: During the year ended December 31 , 2016 , Teva entered into other transactions for a ggregat e cash consideration of $2.3 billion and non- cash consideration with a fair value of $1.8 billion. The acquisition costs relating to these transactions were approximately $ 25 million for the period, and are included in impair ment, restructuring and others i n Teva's c onsolidated s tatements of i ncome. Goodwill recognized for these transactions is not deductible for tax purposes. Pro forma financial information has not been included for the following transactions occurring during the period as the results would not be significant, individually or collectively, when compared with Teva's financial results. Japanese business venture: On April 1, 2016, Teva and Takeda Pharmaceutical Company Limited ("Takeda") established Teva Takeda Yakuhin Ltd. (“ Teva Takeda”), a new business venture in Japan. The business venture combine d Teva's Japanese generics business with Takeda's portfolio of off-patent products , leveraging Takeda's leading brand reputation and strong distribution presence in Japan with Teva's expertise in supply chain, operational network, infrastructure and R&D, to meet the wide-ranging needs of patients and growing importance of generics in Japan through the provision of off-patent medicines. Teva assigned 49% in the business venture to Takeda in consideration of the contribution of its off-patented products business in Japan. The business venture was consolidated in Teva's financial statements commencing April 1, 2016. Takeda's interest in the business venture is accounted for under net income ( loss ) attributabl e to non-controlling interests. The table below summarizes the preliminary estimates of the fair value of the assets acquired and liabilities assumed and resulting goodwill. These values are not yet finalized and are subject to change. The amounts recognize d and associated amortization periods will be finalized as the information neces sary to complete the analyses is obtained , but no later than one year from the acquisition date. In the fourth quarter of 2016 , measurement period adjustments were recorded to reflect updated forecasted cash flows supporting the value of identifiable intangible assets , resulting in an increase in goodwill associated with the transaction . Teva recorded net assets acquired of $1.8 billion and non-controlling interests of $1.6 billion, with the difference recorded under Teva shareholders' equity. Recognized amounts of identifiable assets acquired and liabilities assumed: U.S.$ in millions Preliminary values at September 30, 2016 Measurement period adjustments Preliminary values at December 31, 2016 Inventories $ 139 $ (5) $ 134 Identifiable intangible assets: Product and marketing rights (1) 1,664 (173) 1,491 Goodwill 566 132 698 Total assets acquired 2,369 (46) 2,323 Deferred income taxes 544 (46) 498 Total liabilities assumed 544 (46) 498 Net assets acquired $ 1,825 $ - $ 1,825 (1) The weighted average amortization period of the acquired product and marketing rights is approximately 15 years . The change in the fair value of product and marketing rights is based on updated information on certain product rights acquired which was not available at the time of the acquisition. Goodwill is calculated as the excess of the consideration transferred over the net assets recognized . Specifically, goodwill recorded as part of the Teva Takeda business venture is attributable to expected specific synergies and market benefits that could not be individually identified and separately recognized, and was allocated to the generics segment . Rimsa On March 3, 2016, Teva completed the acquisition of Representaciones e Investigaciones Médicas , S.A. de C.V. (" Rimsa "), a pharmaceutical manufacturing and distribution company in Mexico, for $2.3 billion, in a cash free, debt free set of transactions. Teva financed the transaction using cash on hand. Following the closing of the acquisition, Teva identified issues concerning Rimsa's pre-acquisition quality, manufacturing and other practices, at which point the C ompany began an assessment of the extent and cost of remediation required to return its products to the market. In September 2016, two lawsuits were filed: a pre-emptive suit by the Rimsa sellers against Teva , and Teva's lawsuit alleging fraud and breach of contract against the Rimsa sellers. The Rimsa sellers subsequently dismissed their lawsuit, and the dismissal was approved by court order on December 20, 2016. During the fourth quarter, Teva completed its assessment of the implications of the identified issues on the intended synergies and integration of the acquisition, resulting in a comprehensive remediation plan that is currently being executed. As a result, Teva reevaluated the purchase price allocation and concluded that measurement period adjustments were necessary to change the values assigned to certain assets acquired and liabilities assumed. The impact of these adjustments was primarily a decrease in the value of acquired identifiable intangible assets by $707 million and an increase in the amount of goodwill on acquisition. In addition all identifiable intangible assets were determined to be IPR&D. See the table below. As a resu lt of the alleged fraud and revised increase in goodwill, and given the required level of senior management's attention to exe cute the remediation plan, Teva concluded that the rarity of the circumstances warranted the evaluation of Rimsa as a separate reporting unit. Accordingly , goodwill resulting from the Rimsa acquisition was tested for impairment at this level . Teva concluded that the carrying value of the Rimsa reporting unit exceeded its fair value at the measurement date and therefore recognized an impairment charge of $900 million on goodwill. Teva will continue to monitor the execution of the remediation plan and related milestones. Critical to the plan are the timing and costs to remediate the f acility and its product files . If it is determined that remediation will not be completed within the expected timeframe, Teva may conclude that additional impairment is necessary. The table below summarizes the preliminary estimates of the fair value of the assets acquired and liabilities assumed and resulting goodwill , prior to goodwill impairment . These values are not yet finalized and are subject to change, which could be significant as its remediation plan may provide further knowledge of facts and conditions that existed at the acquisition date which could change the fair value of IPR&D . The amounts recognized and associated amortization periods will be finalized as the information necessary to complete the analyses is obtained, but no later than one year from the acquisition date. Recognized amounts of identifiable assets acquired and liabilities assumed: U.S.$ in millions Preliminary values at September 30, 2016 Measurement period adjustments Preliminary values at December 31, 2016 Current assets (1) $ 88 $ 9 $ 97 Deferred taxes and other non-current assets (2) 702 (556) 146 Identifiable intangible assets: Product rights 781 (781) - In-process research and development (3) 177 123 300 Trade names / customer relationships 49 (49) - Goodwill 1,018 949 1,967 Total assets acquired 2,815 (305) 2,510 Current liabilities 124 (3) 121 Deferred taxes and other non-current liabilities 370 (302) 68 Total liabilities assumed 494 (305) 189 Net assets acquired $ 2,321 $ - $ 2,321 (1) As of the acquisition date, the fair value of trade receivable s approximated the book value acquired. The gross contractual amount receivable was $47 million, of which $3 million was not expected to be collected. (2) Deferred tax assets were revalued based on updated projections indicating the amounts would not be utilized within a reasonable amount of time. (3 ) The value of research and development in-process was calculated using cash flow projections discounted for the inherent risk in the projects. Following the impact of currency fluctuations and the $900 million goodwill impairment charge, the carrying value of the Rimsa reporting unit was $1.1 billion at December 31, 2016. Goodwill attributable to the acquisition following the updated valuations represents the expected benefits from Teva's increased presence in the Mexican market, and was allocated to the generics operating segment , while for goodwill impairment purposes the Company evaluated Rimsa as a standalone reporting unit given the unusual circumstances (see disclosure above). Auspex acquisition: In May 2015, Teva acquired Auspex Pharmaceuticals, Inc. (" Auspex ") , an innovative biopharmaceutical company specializing in applying deuterium chemistry to known molecules to create novel therapies with improved safety and efficacy profiles , for n et cash consideration of $3.3 billion. The table below summarizes the fair value of the assets acquired and liabilities assumed and resulting goodwill. U.S.$ in millions Cash and cash equivalents $ 201 Other current assets 6 Deferred taxes and other assets 126 Identifiable intangible assets: Research and development in-process 3,143 Goodwill 1,146 Total assets acquired 4,622 Current liabilities 29 Deferred taxes 1,131 Total liabilities assumed 1,160 Net assets acquired $ 3,462 Pro forma information giving effect to the acquisition has not been provided as the results would not be material. Labrys acquisition : In J uly 2014, Teva fully acquired Labrys Biologics, Inc. ( " Labrys " ) for an upfront cash payment of $20 7 million and up to $625 m illion in contingent payme nts upon achievement of certain milestones. Labrys is a development stage biotechnology company focused on treatments for chronic migraine and episodic migraine . At the time of the acquisition, the potential additional payments were evaluated and recorded at a fair value of $ 251 million . Pro forma information giving effect to the acquisition has not been provided as the results would not be material . NuPathe acquisition : I n February 2014, Teva completed the acquisition of NuPathe Inc. (" NuPathe ") . NuPathe's leading product is Zecuity ® , a prescription migraine patch approved by the FDA for the acute treatment of migraine with or without aura in adults. Teva purchased all of NuPathe's shares for consideration of $1 63 million and up to $130 million in contingent payments upon the achievement of sales-based milestones for Zecuity ® . At the time of the acquisition, t hese potential additional payments were evaluated and recorded at a fair value of $ 106 million , based on the probability of achieving these milestones. During 2016, the carrying value of the Zecuity ® identifiable intangible asset was impaired. See note 18. Pro forma information giving effect to th e acquisition has not been provided as the results would not be material . b. Other significant agreements: The Company has entered into alliances and other arrangements with third parties to acquire rights to products it does not have , to access markets it does not operate in and to otherwise share development cost s or business risks. The Company's most significant agreements of this nature are summarized below. Attenukine TM In December 2016, Teva entered into a license agreement for research, development, manufacture and commercializing of Attenukine TM with a subsidiary of Takeda. Teva received a $30 million upfront payment, which has been recorded as income in general administrative expenses. The agreement stipulates a dditional milestone payments of up to $280 million and royalties. Ninlaro ® In November 2016, Teva entered into an agreement to sell its royalties and other rights in Ninlaro ® ( ixazomib ) to a subsidiary of Takeda, for a $150 million upfront payment to Teva , with additional consideration of up to $150 million dependent on future sales. The upfront payment has been recognized as revenue in the consolidated statements of income . See note 1s. Teva was entitled to these royalties pur suant to an agreement from 2014 assigning the Ninlaro ® patents to an affiliate of Takeda in consideration of milestone payments and sales royalties. Celltrion In October 2016, Teva and Celltrion , Inc. entered into a collaborative agreement to commercialize two of Celltrion's biosimilar products in development for the U.S. and Canadian markets . Teva paid Celltrion $160 million, of which up to $60 million is refundable or creditable under certain circumstances. Teva and Celltrion will share the profit from the commercialization of these products. The upfront payment of $160 million was recorded in Teva's consolidated statements of income as research and development expenses and reflected in cash flow used in investing activities . Regeneron In September 2016, Teva and Regeneron Pharmaceuticals, Inc. entered into a collaborative agreement to develop and commercialize Regeneron's pain medication product, fasinumab . Teva and Regeneron share equally in the global commercial benefits of this product, as well as ongoing associated research and development costs of approximately $1 billion. Teva paid Regeneron $250 million upfront, which was recorded in Teva's consolidated statements of income as research and development expenses and reflected in cash flow used in investing activities. Eagle license agreement: On February 13, 2015, Teva entered into an exclusive license agreement with Eagle Pharmaceuticals, Inc. ("Eagle") for Bendeka ® , a bendamustine hydrochloride rapid infusion product for the treatment of chronic lymphocytic leukemia (CLL) and indolent B-cell non-Hodgkin lymphoma (NHL). Under the terms of the agreement, Eagle received an upfront cash payment of $30 million, a first milestone payment of $15 million and may receive up to $65 million in additional milestone payments as well as royalties on net sales. As the transaction was accounted as a business combination, the acquisition consideration was attributed to net assets on the basis of fair value of assets acquired and liabilities assumed based on a preliminary valuation. Other 2015 transactions: During 2015, Teva acquired stakes in Gecko Health Innovations, Inc., Immuneering Corporation and Microchips Biotech, Inc. for an aggregate of approximately $1 02 million and certain contingent payments . With Takeda: During 2014, Teva and Takeda entered into agreements allowing Takeda to commercialize Teva's innovative treatments for Parkinson's disease and multiple scleroses (marketed globally under the product names Copaxone ® and Azilect ® ) in Japan. Under these agreements, Teva is entitled to certain development, regulatory and sales-based milestones and royalty payments . With T he Procter & Gamble Company (“P&G”): In November 2011, Teva formed PGT Healthcare, a consumer healthcare joint venture with The Procter & Gamble Company (“P&G”). Headquartered in Geneva, Switzerland, the joint venture focuses on branded OTC medicines in categories such as cough/cold and allergy, digestive wellness, vitamins, minerals and supplements, analgesics and skin medications, and operates in all markets outside North America. Its leading brands are Vicks ® , Metamucil ® , Pepto-Bismol ® , and ratiopharm . PGT Healthcare's strengths include P&G's strong brand-building, consumer-led innovation and go-to-market capabilities; Teva's broad geographic reach, experience in R&D, regulatory and manufacturing expertise and extensive portfolio of products, and each company's scale and operational efficiencies. Teva own s 49% of the joint venture, and P&G holds a controlling financial interest of 51%. The Company recognizes profits of the joint venture based on Teva's ownership percentage. The joint venture has certain independent operations and contracts for other services from its two partners in an effort to leverage their scale and capabilities and thereby maximize efficiencies. Such services include research and development, manufacturing, sales and distribution, administration and other services, provided under agreements with the joint venture. The partners have certain rights to terminate the joint venture after seven years and earlier under other circumstances. In July 2014, Teva sold its U.S. OTC plants, which were purchased as part of the agreement, back to P&G . c. A greements with related parties: In December 2012, Teva entered into a collaborative development and exclusive worldwide license agreement with Xenon for its compound XEN402. XEN402 (now designated by Teva as TV-45070) targets sodium channels found in sensory nerve endings that can increase in chronic painful conditions, and is currently in p hase 2 clinical development for neuropathic pain. Dr. Michael Hayden, Teva's President of Global R&D and Chief Scientific Officer, is a founder, a minority shareholder and a member of the board of directors of Xenon. Teva paid Xenon an upfront fee of $41 million and may be required to pay development, regulatory and sales-based milestones of up to $335 million. Xenon is also entitled to royalties on sales and has an option to participate in commercialization in the United States. As required by the agreement, in November 2014, Teva invested an additional $10 million in Xenon in connection with its initial public offering. In order to avoid potential conflicts of interest, Teva established certain procedures to exclude Dr. Hayden from involvement in Teva's decision-making related to Xenon.

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENT	12 Months Ended
	Dec. 31, 2016
Fair Value Measurement [Abstract]
Fair Value Measurement	NOTE 3 – FAIR VALUE MEASUREMENT: Financial items carried at fair value as of December 31, 2016 and 2015 are classified in the tables below in one of the three categories described in note 1 f : December 31, 2016 Level 1 Level 2 Level 3 Total U.S. $ in millions Cash and cash equivalents: Money markets $ 24 $ - $ - $ 24 Cash deposits and other 964 - - 964 Investment in securities: Equity securities 842 - - 842 Structured investment vehicles - 89 - 89 Other, mainly debt securities 14 - 17 31 Derivatives: Asset derivatives - options and forward contracts - 10 - 10 Asset derivatives - cross-currency swaps - 88 - 88 Liabilities derivatives - options and forward contracts - (17) - (17) Liabilities derivatives - interest rate swaps - (2) - (2) Contingent consideration* - - (828) (828) Total $ 1,844 $ 168 $ (811) $ 1,201 December 31, 2015 Level 1 Level 2 Level 3 Total U.S. $ in millions Cash and cash equivalents: Money markets $ 162 $ - $ - $ 162 Cash deposits and other 6,784 - - 6,784 Investment in securities: Equity securities 1,352 - - 1,352 Structured investment vehicles - 94 - 94 Other 11 - 1 12 Derivatives: Asset derivatives - options and forward contracts - 25 - 25 Asset derivatives - interest rate, cross-currency and forward starting interest rate swaps - 105 - 105 Liability derivatives - options and forward contracts - (11) - (11) Liability derivatives - treasury locks, interest rate and forward starting interest rate swaps - (26) - (26) Contingent consideration* - - (812) (812) Total $ 8,309 $ 187 $ (811) $ 7,685 __________________________ * Contingent consideration represents liabilities recorded at fair value in connection with acquisitions . Teva determined the fair value of the liability or asset of contingent consideration based on a probability-weighted discounted cash flow analysis. This fair value measurement is based on significant unobservable inputs in the market and thus represents a Level 3 measurement within the fair value hierarchy. The fair value of the contingent consideration is based on several factors, such as: the cash flows projected from the success of unapproved product candidates; the probability of success for product candidates including risks associated with uncertainty regarding achievement and payment of milestone events; the time and resources needed to complete the development and approval of product candidates; the life of the potential commercialized products and associated risks of obtaining regulatory approvals in the U.S. and Europe and the discount rate for fair value measurement. The contingent consideration is evaluated quarterly or more frequently if circumstances dictate. Changes in the fair value of contingent consideration are recorded in earnings under i mpairments, restructuring and others . Significant changes in unobservable inputs, mainly the probability of success and cash flows projected, could result in material changes to the contingent consideration liability. The following table summarizes the activity for those financial assets and liabilities where fair value measurements are estimated utilizing Level 3 inputs. December 31, December 31, 2016 2015 U.S. $ in millions Fair value at the beginning of the period $ (811) $ (616) Investment in debt securities 16 Auction rate securities realized (13) Additional contingent consideration resulting from: Actavis Generics acquisition (302) Eagle license (128) Gecko acquisition (5) Adjustments to provisions for contingent consideration: Actavis Generics acquisition 18 Labrys acquisition (6) (311) Eagle license (179) (63) MicroDose acquisition (8) (10) Cephalon acquisition (12) (5) NuPathe acquisition 122 (10) Settlement of contingent consideration: Labrys acquisition 25 350 Eagle transaction 115 Cephalon acquisition 205 Gecko transaction 6 Fair value at the end of the period $ (811) $ (811) Teva's financial instruments consist mainly of cash and cash equivalents, investments in securities, current and non-current receivables, short-term credit, accounts pa ya ble and accruals, loans and senior notes, convertible senior debentures and derivatives. The fair value of the financial instruments included in working capital and non-current receivab les approximates their carrying value. The fair value of long-term bank loans mostly approximates their carrying value, since they bear interest at rates close to the prevailing market rates. Financial instruments not measured at fair value Financial instruments measured on a basis other than fair value are mostly comprised of senior notes and convertible senior debentures, and are presented in the below table in terms of fair value: Estimated fair value* December 31, 2016 2015 (U.S. $ in millions) Senior notes included under long-term liabilities $ (26,456) $ (7,305) Senior notes and convertible senior debentures included under short-term liabilities (569) (1,778) Fair value at the end of the period $ (27,025) $ (9,083) * The fair value was estimated based on quoted market prices, where available.

INVESTMENT IN SECURITIES

INVESTMENT IN SECURITIES	12 Months Ended
	Dec. 31, 2016
Marketable Securities [Abstract]
Marketable Securities	NOTE 4— INVESTMENT IN SECURITIES: Available-for-sale securities: Available-for-sale securities are c omprised mainly of debt securities and equity securities. Investments in securities are classified based on the initial maturity as well as the intended time of realization. At December 31, 2016 and 2015 , the fair value, amortized cost and gross unrealized holding gains and losses of such securities are as follows : Fair value Amortized cost Gross unrealized holding gains Gross unrealized holding losses (U.S. $ in millions) December 31, 2016 $ 986 $ 985 $ 44 $ 43 December 31, 2015 $ 1,620 $ 1,303 $ 338 $ 21 In the second quarter of 2016, Teva recorded an impairment of $99 million on its investment in Mesoblast . During the third and fourth quarter of 2016, Teva sold and settled approximately five million of its Mylan shares , for an average price of $39.3 per share, for an aggregate cash consideration of approximately $202 million. Consequently, Teva recorded a $5 million net loss under financial expenses-net. As of December 31, 2016, following the decision to treat the investment as held for sale, the decline in fair value of the remaining Mylan shares was considered to be other-than-temporary and recorded as an expense in the consolidated statements of income . Consequently, Teva recorded an additional $37 million loss under financial expenses-net, reflecting the difference between the book value and fair value of the shares as of December 31, 2016. See note 17. As of December 31, 2016, Teva 's remaining Mylan shares are presented under short term investment recorded in other current assets. In January 2017, Teva sold approximately 12 million additional Mylan shares. Investments in securities are presented in the balance sheet as follows: December 31, 2016 2015 (U.S. $ in millions) Other current assets $ 679 $ 11 Other non-current assets 283 1,447 Cash and cash equivalents, mainly money market funds 24 162 $ 986 $ 1,620 b. Contractual maturities: The contractual maturities of debt securities are as follows: December 31, 2016 (U.S. $ in millions) 2017 $ 38 2022 and thereafter 106 $ 144

INVENTORIES

INVENTORIES	12 Months Ended
	Dec. 31, 2016
Inventories [Abstract]
Inventories	NOTE 5—INVENTORIES: Inventories, net of reserves, consisted of the following: December 31, 2016 2015 (U.S. $ in millions) Finished products $ 2,832 $ 2,050 Raw and packaging materials 1,385 1,195 Products in process 538 535 Materials in transit and payments on account 199 186 $ 4,954 $ 3,966 The i ncrease was primarily due to the acquisition of Actavis Generics inventories, which were initially recorded at fair value. For additional information, see note 2.

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	12 Months Ended
	Dec. 31, 2016
Property Plant And Equipment [Abstract]
Property, Plant and Equipment	NOTE 6—PROPERTY, PLANT AND EQUIPMENT: Property, plant and equipment, net, consisted of the following: December 31, 2016 2015 (U.S. $ in millions) Machinery and equipment $ 5,748 $ 5,071 Buildings 3,331 2,591 Computer equipment and other assets 1,774 1,492 Payments on account 634 525 Land* 439 394 11,926 10,073 Less—accumulated depreciation 3,853 3,529 $ 8,073 $ 6,544 * Land includes long-term leasehold rights in various locations, with useful lives of between 30 and 99 years. The increase was primarily due to the acquisition of Actavis Generics property, plant and equipment, which was initially recorded at fair value. For additional information, see note 2. Depreciation expenses were $501 million, $449 million and $464 million in the years ended December 31, 2016, 2015 and 2014, respectively. During the years ended December 31, 2016, 2015 and 2014, Teva had impairments of property, plant and equipment in the amount of $149 million, $96 million and $163 million, respectively. See note 18.

GOODWILL

GOODWILL	12 Months Ended
	Dec. 31, 2016
Goodwill [Abstract]
Goodwill Disclosure [Text Block]	NOTE 7—GOODWILL: The changes in the carrying amount of goodwill for the years ended December 31, 2016 and 2015 were as follows: Generics Specialty Other Total (U.S. $ in millions) Balance as of January 1, 2015 $ 8,730 $ 8,502 $ 1,176 $ 18,408 Changes during year: Goodwill acquired (1) - 1,212 - 1,212 Translation differences and other (265) (294) (36) (595) Balance as of December 31, 2015 $ 8,465 $ 9,420 $ 1,140 $ 19,025 Changes during year: Goodwill acquired and adjustments (2) 25,767 (29) 1,091 26,829 Goodwill disposed (3) (99) (99) Goodwill impairment (4) (900) (900) Translation differences and other (370) (68) (8) (446) Balance as of December 31, 2016 $ 32,863 $ 9,323 $ 2,223 $ 44,409 (1) Mainly due to the Auspex acquisition in May 2015. (2) Goodwill recognized as part of the Actavis Generics, Anda, Takeda and Rimsa acquisitions. Goodwill acquired in the specialty segment represents measurement period adjustments on goodwill acquired in 2015 (mainly Auspex). (3) Goodwill on divestiture of Teva products in connection with the Actavis Generics acquisition. Refer further to note 2. (4) Represents Rimsa goodwill impairment charge. Refer to note 2. As a result of the acquisition of Actavis Generics, Teva conducted an analysis of its business segments, which lead to a change to Teva's segment reporting and goodwill assignment. Teva re allocated goodwill to its adjusted reporting units using a relative fair value approach. For the year ended December 31, 2016 an impairment loss of $900 million was recognized with respect to the goodwill associ ated with the Rimsa acquisition (refer further to note 2 ) . For the years ended For th December 31, 2015 and 2014, the Company determined that there were no impairments to goodwill.

IDENTIFIABLE INTANGIBLE ASSET

IDENTIFIABLE INTANGIBLE ASSET	12 Months Ended
	Dec. 31, 2016
Identifiable Intangible Asset [Abstract]
Identifiable Intangible Asset [Text Block]	NOTE 8 - IDENTIFIABLE INTANGIBLE ASSETS: Identifiable intangible assets consisted of the following: Original amount net of impairment Accumulated amortization Amortized balance December 31, 2016 2015 2016 2015 2016 2015 (U.S. $ in millions) Product rights $ 18,180 $ 9,047 $ 6,460 $ 5,876 $ 11,720 $ 3,171 Trade names 625 212 41 40 584 172 Research and development in process 9,183 4,332 0 0 9,183 4,332 Total $ 27,988 $ 13,591 $ 6,501 $ 5,916 $ 21,487 $ 7,675 Product rights and trade names are assets presente d at amortized cost . These assets represent a portfolio of pharmaceutical products from various categories with a weighted average life of approximately 1 1 years . Amortization of intangible assets amounted to $993 million, $838 million and $1,036 million in the years ended December 31, 2016, 2015 and 2014, respectively. Teva's in - process research and development are assets that have not yet been approved in major markets. Teva's in - process research and development is comprised mainly of the following acquisitions and related assets: various generic products ( Actavis Generics ) - $ 4 , 964 million ; SD809—multiple indications and SDJ60 idiopathic pulmonary fibrosis ( Auspex ) - $3,143 million; LBR-101 ( Labrys ) - $444 million; various generic products ( Rimsa ) - $258 million; Reslizumab (formerly known as Cinquil ® , Cephalon ) - $ 126 million; Technol ogy (Microchips) - $61 million ; Technology ( Immuneering ) - $ 87 million ; LAMA/LABA ( MicroDose ) - $62 million and TD Hydrocodone ( Cephalon ) - $47 million. In-proce ss research and development carry intrinsic risks that the asset might not succeed in advanced phases and will be impaired in future periods. Impairment of identifiable intangible assets amounted to $589 million, $265 million and $224 million in the years ended December 31, 2016, 2015 and 2014, respectively , and are recorded in earnings under i mpairments, restructuring and others . See note 18 . As of December 31, 2016, the estimated aggregate amortization of intangible assets for the years 2017 to 2021 is as follows: 2017—$1,178 million; 2018—$1,273 million; 2019—$1,159 million; 2020—$1,081 million and 2021—$932 million. These estimates do not include the impact of IPR&D that is expected to materialize during this period .

SALES RESERVES AND ALLOWANCES

SALES RESERVES AND ALLOWANCES	12 Months Ended
	Dec. 31, 2016
Revenue Recognition [Abstract]
Revenue Recognition [Text Block]	NOTE 9—SALES RESERVES AND ALLOWANCES: Sales reserves and allowances consisted of the following: December 31, 2016 2015 (U.S. $ in millions) Rebates $ 3,482 $ 3,382 Medicaid and other governmental allowances 1,729 1,319 Chargebacks 1,584 1,091 Returns 844 598 Other 200 211 $ 7,839 $ 6,601

LONG TERM EMPLOYEE RELATED OBLI

LONG TERM EMPLOYEE RELATED OBLIGATIONS	12 Months Ended
	Dec. 31, 2016
Long Term Employee Related Obligations [Abstract]
Long Term Employee Related Obligations	NOTE 10—LONG-TERM EMPLOYEE-RELATED OBLIGATIONS: a. Long-term employee-related obligations consisted of the following: December 31, 2016 2015 (U.S. $ in millions) Accrued severance obligations $ 120 $ 123 Defined benefit plans 197 157 Total $ 317 $ 280 As of December 31, 2016 and 2015 , the Group had $152 million and $140 million, respectively, deposited in funds managed by financial institutions that are earmarked by management to cover severance pay liability mainly in respect of Israeli employees. Such deposits are not considered to be “plan assets” and are therefore included in long-term investments and receivables. Most of the change resulted from actuarial updates, as well as from exiting from several defined benefit plans in several countries. The Company expects to expense an approximate contribution of $141 million in 2017 to the pension funds and insurance companies in respect of its severance and pension pay obligations. The main terms of the different arrangements with employees are described in b. below. b. Terms of arrangements: Israel Israeli law generally requires payment of severance pay upon dismissal of an employee or upon termination of employment in certain other circumstances. The Parent Company and its Israeli subsidiaries make ongoing deposits into employee pension plans to fund their severance liabilities. According to the general collective pension agreement in Israel, Company deposits with respect to employees who were employed by the Company after the agreement took effect are made in lieu of the Company ' s severance liability; therefore no obligation is provided for in the financial statements. Severance pay liabilities with respect to employees who were employed by the Parent Company and its Israeli subsidiaries prior to the collective pension agreement effective date, a s well as employees who have special contractual arrangements, are provided for in the financial statements based upon the number of years of service and the latest monthly salary. Europe Many of the employees in the Company's European subsidiaries are entitled to a retirement grant when they leave. In the consolidated financial statements, the liability of the subsidiaries is accrued , based on the length of service and remuneration of each employee at the balance sheet date. Other employees in Europe are entitled to a pension according to a defined benefit scheme providing benefits based on final or average pensionable pay or according to a hybrid pension scheme that provides retirement benefits on a defined benefit and a defined contribution basis. Independent certified actuaries value these schemes and determine the rates of contribution payable. Pension costs for the defined benefit section of the scheme are accounted for on the basis of charging the expected cost of providing pensions over the period during which the subsidiaries benefit from the employees' services . The C ompany uses December 31 as the measurement date for defined benefit plans. North America The Company's North American subsidiaries mainly provide various defined contribution plans for the benefit of their employees. Under these plans, contributions are based on specified percentages of pay. Additionally, a multi-employer plan is maintained in accordance with various union agreements. Latin America The majority of the employees in Latin America are entitled to severance under local law. The severance payments are calculated based on service term and employee remuneration , and accruals are maintained to reflec t these amounts. In some Latin American countries it is Teva 's practice to offer retirement health benefits to qualifying employees. Based on the specific plan requirements , benefits accruals are maintained to reflect the estimated amounts or adjusted if future plans are modified . The Company expects to pay the following future minimum ben efits to its employees: $16 million in 2017 ; $14 million in 2018 ; $12 million in 2019 ; $12 million in 2020 ; $13 million in 2021 and $76 million between 20 2 2 to 20 2 6 . These amounts do not include amounts that might be paid to employees who cease working with the Company before their normal retirement age.

DEBT OBLIGATIONS

DEBT OBLIGATIONS	12 Months Ended
	Dec. 31, 2016
Debt Obligations [Abstract]
Senior Notes and Loans	NOTE 11—DEBT OBLIGATIONS: a. Short-term debt: December 31, Weighted average interest rate as of December 31 Maturity 2016 2015 (U.S. $ in millions) Revolving credit facility LIBOR +1.125% 2017 $ 1,240 $ - Term loan GBP 510 million* GBP LIBOR + 0.7% 2017 $ 629 $ - Term loan JPY 8.0 billion JPY LIBOR +0.223% 2017 $ 68 - Bank and financial institutions 5.79% $ 15 $ 75 Convertible debentures (see note 12) 0.25% 2026 $ 514 521 Current maturities of long-term liabilities $ 810 989 Total short term debt $ 3,276 $ 1,585 *In January 2017, Teva repaid this loan in full. Short-term debt has an earliest date of repayment within 12 months . Line of credit: In November 2015 , the Company entered into a $ 3 billion five-year unsecured syndicated credit facility (which was increase d to $4.5 billion upon closing of the Actavis Generics acquisition , see note 2 ) , replacing the previous $ 3 billion facility. As of December 31, 2016 , the Company utilized $ 1.2 billion of the facility. b. Long-term debt includes the following: Weighted average interest rate as of December 31, 2016 Maturity December 31, 2016 December 31, 2015 % (U.S. $ in millions) Senior notes EUR 1,750 million (1) 0.38% 2020 $ 1,834 $ - Senior notes EUR 1,500 million (1) 1.13% 2024 1,566 - Senior notes EUR 1,300 million 1.25% 2023 1,357 1,409 Senior notes EUR 1,000 million 2.88% 2019 1,050 1,092 Senior notes EUR 750 million (1) 1.63% 2028 780 - Senior notes EUR 700 million 1.88% 2027 733 762 Senior notes USD 3,500 million (2) 3.15% 2026 3,491 - Senior notes USD 3,000 million (2) 2.20% 2021 2,995 - Senior notes USD 3,000 million (2), (3) 2.80% 2023 2,991 - Senior notes USD 2,000 million (2) 1.70% 2019 2,000 - Senior notes USD 2,000 million (2) 4.10% 2046 1,984 - Senior notes USD 1,500 million (2) 1.40% 2018 1,498 - Senior notes USD 950 million (4) 2.40% 2016 - 950 Senior notes USD 844 million (5) 2.95% 2022 868 843 Senior notes USD 789 million 6.15% 2036 781 780 Senior notes USD 700 million 2.25% 2020 700 700 Senior notes USD 613 million (5) 3.65% 2021 626 611 Senior notes USD 588 million 3.65% 2021 587 586 Senior notes CHF 450 million 1.50% 2018 442 455 Senior notes CHF 350 million (6) 0.50% 2022 344 - Senior notes CHF 350 million (6) 1.00% 2025 345 - Senior notes CHF 300 million (6) 0.13% 2018 295 - - Fair value hedge accounting adjustments (2) (10) Total senior notes 27,265 8,178 Term loan USD 2.5 billion (7) LIBOR +1.125% 2018 2,500 - Term loan USD 2.5 billion (7) LIBOR +1.25% 2017-2020 2,500 - Term loan JPY 65 billion 0.99% 2017 560 544 Term loan JPY 35 billion 1.42% 2019 299 290 Term loan JPY 35 billion LIBOR +0.3% 2018 299 290 Other loans JPY 5 billion 1.67% 2016 - 39 Total loans 6,158 1,163 Debentures USD 15 million 7.20% 2018 15 15 Other 7.48% 2026 9 5 Total debentures and others 24 20 Less current maturities (810) (989) Derivative instruments 2 11 Less debt issuance costs* (115) (25) Total long-term debt $ 32,524 $ 8,358 * In accordance with FASB guidance, effective January 1, 2016, long-term debt is presented net of related debt issuance costs. Prior periods were adjusted to conform with the guidance. In July 2016, in connection with the anticipated closing of the Actavis Generics acquisition, Teva Pharmaceutical Finance Netherlands II B.V., a Teva finance subsidiary, issued senior notes in an aggregate principal amount of €4.0 billion . In July 2016, in connection with the anticipated closing of the Actavis Generics acquisition, Teva Pharmaceutical Finance Netherlands III B.V., a Teva finance subsidiary, issued senior notes in an aggregate principal amount of $15.0 billion . In the fourth quarter of 2016, Teva entered into interest rate swap agreements designated as fair value hedge relating to its 2.8% senior notes due 2023 with respect to $500 million notional amount of outstanding debt. In November 2016, Teva repaid at maturity $ 950 million principal amount of its 2.4% fixed rate senior notes. In the third quarter of 2016, Teva terminated interest rate swap agreements designated as fair value hedge relating to its 2.95% senior notes due 2022 with respect to $844 million notional amount and its 3.65% senior notes due 2021 with respect to $450 million notional amount . In July 2016, in connection with the anticipated closing of the Actavis Generics acquisition, Teva Pharmaceutical Finance Netherlands IV B.V., a Teva finance subsidiary, issued senior notes in an aggregate principal amount of CHF 1.0 billion. In August 2016, upon closing of the Actavis Generics acquisition, Teva borrowed $5 billion under its term loan facilities with a syndicate of banks. The term facilities consists of two tranches of $2.5 billion each, with the first tranche maturing in full in 2018 and the second tranche maturing in 2020 with payment installments each year (10% to be repaid in each of 2017 and 2018, 20% to be repaid in 2019 and the remaining 60% to be repaid in 2020). L ong term debt was issued by several indirect wholly-owned subsidiaries of the Company and is fully and unconditionally guaranteed by the Company as to payment of all principal, interest, discount and additional amounts (as defined), if any. Long term debt as of December 31, 2016 is effectively denominated (taking into consideration cross currency swap agreements) in the following currencies: U.S. dollar 70%, euro 24%, Swiss franc 4% and Japanese yen 2%. Certain loan agreements and debentures contain restrictive covenants, mainly the requirement to maintain certain financial ratios. As of December 31, 2016, the Company met all financial covenants. The Company and certain subsidiari es entered i nto negative pledge agree ments with certain banks and institutional investors. Under the agreements, the Company and such subsidiaries have undertaken not to register floating charges on assets in favor of any third parties wit hout the prior consent of the banks, to maintain certain financial ratios and to fulfill other restrictions, as stipulated by the agreements. The required annual principal payments of long-term debt, excluding debt issuance cost as of December 31, 2016, starting with the year 2018, are as follows: December 31, 2016 (U.S. $ in millions) 2018 $ 5,299 2019 3,849 2020 4,034 2021 4,208 2022 and thereafter 15,249 $ 32,639

CONVERTIBLE SENIOR DEBENTURES

CONVERTIBLE SENIOR DEBENTURES	12 Months Ended
	Dec. 31, 2016
Convertible Senior Debentures [Abstract]
Convertible Senior Debentures	NOTE 1 2 —CONVERTIBLE SENIOR DEBENTURES : Convertible senior debentures were $514 million and $521 mi llion principal amount of our 0.25% convertible senior debentures due 2026 as of December 31, 2016 and 2015 , respectively. These convertible senior debentures include a “net share settlement” feature according to which the principal amount will be paid in cash and in case of conversion, only the residual conversion value above the principal amount will be paid in Teva shares. Due to the “net share settlement” feature, exercisable at any time, these convertible senior debentures are classified in the bala nce sheet under short-term debt . Holders of the convertible debentures will be able to cause Teva to redeem the debentures on February 1, 2021.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2016
Commitments And Contingencies [Abstract]
Commitments And Contingencies	NOTE 13—COMMITMENTS AND CONTINGENCIES: a. Commitments: Preferred dividends : T he Company pay s dividend s under its outstanding mandatory convertible preferred shares . S ee note 14b . Operating leases: As of December 31, 2016, minimum future rentals under operating leases of buildings, machinery and equipment for periods in excess of one year were as follows: 2017 —$165 million ; 2018 —$144 million ; 2019 —$131 million ; 2020 —$84 million ; 2021 —$70 million ; 2022 and ther eafter—$135 million . The lease fees expensed in each of the years ended December 31, 2016, 2015 and 2014 were $164 million , $122 million and $153 million, respectively. Royalty commitments: The Company is committed to paying royalties to owners of know-how, partners in alliances and other certain arrangements and to parties that financed research and development, at a wide range of rates as a percentage of sales or of the gross margin of certain products, as defined in the underlying agreements. Royalty expenses are reported in cost of goods sold if related to the acquisition of a product , and if not are included in sales and marketing expenses. The royalty expense in each of the years ended December 31, 2016, 2015 and 2014 were $814 million , $911 million and $987 million, respectively. Milestone commitments: The Company is committed to pay ing milestone payments , usually as part of business transactions. Such payments are contingent upon the achievement of certain regulatory milestones and sales targets. A s of December 31, 2016, were all milestones and targets, for compounds in Phase II and more advanced stages of development, to be achieved, the total contingent payments could reach an aggregate of up to approximately $1.1 billion . b. Contingencies: General From time to time, Teva and/or its subsidiaries are subject to claims for damages and/or equitable relief arising in the ordinary course of business. In addition, as described below, in large part as a result of the nature of its business, Teva is frequently subject to litigation. Teva generally believes that it has meritorious defenses to the actions brought against it and vigorously pursues the defense or settlement of each such action. Except as described below, Teva does not currently have a reasonable basis to estimate the loss, or range of loss, that is reasonably possible with respect to matters disclosed in this note. Teva records a provision in its financial statements to the extent that it concludes that a contingent liability is probable and the amount thereof is estimable. Based upon the status of the cases described below, management's assessments of the likelihood of damages, and the advice of counsel, no provisions have been made regarding the matters disclosed in this note, except as noted below. Litigation outcomes and contingencies are unpredictable, and excessive verdicts can occur. Accordingly, management's assessments involve complex judgments about future events and often rely heavily on estimates and assumptions. Based on currently available information, Teva believes that none of the proceedings brought against it described below is likely to have a material adverse effect on its financial condition. However, if one or more of such proceedings were to result in final judgments against Teva, such judgments could be material to its results of operations and cash flows in a given period. In addition, Teva incurs significant legal fees and related expenses in the course of defending its positions even if the facts and circumstances of a particular litigation do not give rise to a provision in the financial statements. In connection with third-party agreements, Teva may under certain circumstances be required to indemnify, and may be indemnified by, in unspecified amounts, the parties to such agreements against third-party claims. Among other things, Teva's agreements with third parties may require Teva to indemnify them, or require them to indemnify Teva, for the costs and damages incurred in connection with product liability claims, in specified or unspecified amounts. Except as otherwise noted, all of the litigation matters disclosed below involve claims arising in the United States. Except as otherwise noted, a ll third party sales figures given below are based on IMS data. Intellectual Property Litigation From time to time, Teva seeks to develop generic versions of patent-protected pharmaceuticals for sale prior to patent expiration in various markets. In the United States, to obtain approval for most generics prior to the expiration of the originator's patents, Teva must challenge the patents under the procedures set forth in the Hatch-Waxman Act of 1984, as amended. To the extent that Teva seeks to utilize such patent challenge procedures, Teva is and expects to be involved in patent litigation regarding the validity, enforceability or infringement of the originator's patents. Teva may also be involved in patent litigation involving the extent to which its product or manufacturing process techniques may infringe other originator or third-party patents. Additionally, depending upon a complex analysis of a variety of legal and commercial factors, Teva may, in certain circumstances, elect to market a generic version even though litigation is still pending. This could be before any court decision is rendered or while an appeal of a lower court decision is pending. To the extent Teva elects to proceed in this manner, it could face substantial liability for patent infringement if the final court decision is adverse to Teva. The general rule for damages in patent infringement cases in the United States is that the patentee should be compensated by no less than a reasonable royalty, and it may also be able in certain circumstances to be compensated for its lost profits. The amount of a reasonable royalty award would generally be calculated based on the sales of Teva's generic product. The amount of lost profits would generally be based on the lost sales of the branded product. The launch of an authorized generic and other generic competition may be relevant to the damages calculation. In addition, the patentee may seek consequential damages as well as enhanced damages of up to three times the profits lost by the patent holder for willful infringement, although courts have typically awarded much lower multiples. Teva is also involved in litigation regarding patents in other countries where it does business, particularly in Europe, where Teva has in recent years increased the number of launches of its generic versions of branded pharmaceuticals prior to the expiration of the innovator's patents. The laws concerning generic pharmaceuticals and patents differ from country to country. Damages for patent infringement in Europe may include lost profits or a reasonable royalty, but enhanced damages for willful infringement are generally not available. In December 2012, Endo International (“Endo”) sued Actavis Inc. and Actavis South Atlantic LLC ( collectively, “Actavis ” ) in New York federal court for infringement of patents expiring in 2023. The lawsuit followed the launch by Actavis of its 7.5 mg and 15 mg oxymorphone extended-release tablets, which were the AB-rated generic versions of the original formulation of Endo's Opana ® ER. According to Endo's annual report, Opana ® ER had net sales of approximately $299 million for the twelve months ended December 31, 2012. In September 2013, Actavis launched additional strengths of its product. In August 2015, the court found two Endo patents valid and infringed, and on April 29, 2016, enjoined Actavis from selling its oxymorphone ER products. Actavis has appealed these rulings. In addition, in November 2014, Endo and Mallinckrodt sued Actavis in Delaware federal court, alleging that sales of the Actavis oxymorphone ER products infringe another patent that expires in 2029, which Endo had licensed from Mallinckrodt. Trial in that case is scheduled for February 2017. Were Endo ultimately to be successful in its allegations of patent infringement, Actavis could be required to pay damages relating to past sales of its oxymorphone ER products and continue to be enjoined from future sales until patent expiration. The amount of damages, if any, would be determined in a separate trial that would be scheduled after resolution of the pending appeal. In July 2014, GlaxoSmithKline (“GSK”) sued Teva in Delaware federal court for infringement of a patent expiring in June 2015, which covers GSK's Coreg ® products. Teva and other generic producers began selling their carvedilol tablets (the generic version of Coreg ® ) in September 2007. At the time of Teva's launch, annual sales of Coreg ® were approximately $1.6 billion. The parties served their first round expert reports in September 2016, including GSK's confidential damages expert report. Teva vigorously disputes GSK's claims on the merits and also disputes the amount and nature of GSK's alleged damages. Rebuttal expert reports, including Teva's damages report, were served in November 2016. A hearing on any dispositive motions is scheduled for March 2017, and trial, if necessary, is scheduled to commence in June 2017. Were GSK ultimately to be successful in its allegations of patent infringement, Teva could be required to pay damages relating to past sales of its carvedilol products. Teva would be permitted to continue selling its carvedilol products, given that GSK's patent has expired. In April 2015, Teva launched its 2 mg, 5 mg, 10 mg, 15 mg, 20 mg, and 30 mg aripiprazole tablets, which are the AB-rated generic versions of Otsuka's Abilify ® , which had sales of approximately $7.8 billion for the twelve months ended December 31, 2014. Otsuka sued Teva in New Jersey federal court for infringement of patents that expire in March 2023 and March 2027. On January 20, 2016, the court granted summary judgment on the grounds that Teva's generic product does not infringe Otsuka's patent directed to using aripiprazole in combination with certain anti-depressants. Otsuka appealed this order. In August 2016, Teva and Otsuka settled this litigation, and a provision for the settlement was recorded in the financial statements. Product Liability Litigation Teva's business inherently exposes it to potential product liability claims, and in recent years the number of product liability claims asserted against Teva has increased. Teva maintains a program of insurance, which may include commercial insurance, self-insurance (including direct risk retention), or a combination of both approaches, in amounts and on terms that it believes are reasonable and prudent in light of its business and related risks. However, Teva sells, and will continue to sell, pharmaceuticals that are not covered by insurance; in addition, it may be subject to claims for which insurance coverage is denied as well as claims that exceed its policy limits. Product liability coverage for pharmaceutical companies is becoming more expensive and increasingly difficult to obtain. As a result, Teva may not be able to obtain the type and amount of commercial insurance it desires, or any commercial insurance on reasonable terms, in all of its markets. Teva and/or its subsidiaries, including Watson Laboratories, Inc. (“Watson”) and Actavis Elizabeth LLC (“Actavis”), have been named as defendants in approximately 4,000 product liability lawsuits brought against them and other manufacturers by approximately 4,400 plaintiffs claiming injuries (including allegations of neurological disorders, such as tardive dyskinesia) from the long-term use of metoclopramide (the generic form of Reglan ® ). For over 20 years, the FDA-approved label for metoclopramide has contained warning language about the risk of tardive dyskinesia, and that the risk of developing the disorder increases with duration of treatment and total cumulative dose. In February 2009, the FDA announced that manufacturers of metoclopramide would be required to revise the label, including the addition of a “black box” warning about the risk of tardive dyskinesia resulting from long-term usage. Teva expects to be dismissed from at least some of the cases on the basis that some plaintiffs cannot demonstrate that they used a Teva product. Approximately 40% of the plaintiffs are parties to cases against Teva that are part of a mass tort proceeding in the Philadelphia Court of Common Pleas. In addition, there are mass tort proceedings under way in state courts in California and New Jersey. The California litigation includes about half of the total plaintiffs. In the New Jersey proceeding, the trial court granted the defendants' motion to dismiss, on federal preemption grounds, all claims other than those based on an alleged failure to timely update the label. The appellate court affirmed this dismissal. On August 22, 2016, following Teva's appeal of the decision, the New Jersey Supreme Court affirmed with respect to the failure to update claims. On November 21, 2016, Teva filed a petition for a writ of certiorari with the United States Supreme Court. The Court has asked the plaintiffs to respond to that petition, and plaintiffs' response is due on February 27, 2017. In October 2015, Actavis reached an agreement in principle to resolve the vast majority of the cases pending against it. In January 2017, Teva and/or its other subsidiaries involved in the litigation also reached an agreement in principle to resolve the vast majority of the cases pending against them, subject to participation by a certain percentage of plaintiffs. A provision has been included in the financial statements for these matters. Competition Matters As part of its generic pharmaceuticals business, Teva has challenged a number of patents covering branded pharmaceuticals, some of which are among the most widely-prescribed and well-known drugs on the market. Many of Teva's patent challenges have resulted in litigation relating to Teva's attempts to market generic versions of such pharmaceuticals under the federal Hatch-Waxman Act. Some of this litigation has been resolved through settlement agreements in which Teva obtained a license to market a generic version of the drug, often years before the patents expire. Teva and its subsidiaries have increasingly been named as defendants in cases that allege antitrust violations arising from such settlement agreements. The plaintiffs in these cases, which are usually direct and indirect purchasers of pharmaceutical products, and often assert claims on behalf of classes of all direct and indirect purchasers, typically allege that (1) Teva received something of value from the innovator in exchange for an agreement to delay generic entry, and (2) significant savings could have realized if there had been no settlement agreement and generic competition had commenced earlier. These class action cases seek various forms of injunctive and monetary relief, including damages based on the difference between the brand price and what the generic price allegedly would have been and disgorgement of profits, which are automatically trebled under the relevant statutes, plus attorneys' fees and costs. The alleged damages generally depend on the size of the branded market and the length of the alleged delay, and can be substantial - potentially measured in multiples of the annual brand sales -particularly where the alleged delays are lengthy or branded drugs with annual sales in the billions of dollars are involved. Teva believes that its settlement agreements are lawful and serve to increase competition, and has defended them vigorously. In Teva's experience to date, these cases have typically settled for a fraction of the high end of the damages sought, although there can be no assurance that such outcomes will continue. In June 2013, the United States Supreme Court held, in Federal Trade Commission v. Actavis, Inc . (the “AndroGel case”), that a rule of reason test should be applied in analyzing whether such settlements potentially violate the federal antitrust laws. The Supreme Court held that a trial court must analyze each agreement in its entirety in order to determine whether it violates the antitrust laws. This new test has resulted in increased scrutiny of Teva's patent settlements, additional action by the FTC and state and local authorities, and an increased risk of liability in Teva's currently pending antitrust litigations. In April 2006, certain subsidiaries of Teva were named in a class action lawsuit filed in the U.S. District Court for the Eastern District of Pennsylvania. The case alleges that the settlement agreements entered into between Cephalon, Inc., now a Teva subsidiary (“Cephalon”), and various generic pharmaceutical companies in late 2005 and early 2006 to resolve patent litigation involving certain finished modafinil products (marketed as Provigil ® ) were unlawful because they had the effect of excluding generic competition. The case also alleges that Cephalon improperly asserted its Provigil ® patent against the generic pharmaceutical companies. The first lawsuit was brought by King Drug Company of Florence, Inc. on behalf of itself and as a proposed class action on behalf of any other person or entity that purchased Provigil ® directly from Cephalon (the “Direct Purchaser Class”). Similar allegations have been made in a number of additional complaints, including those filed on behalf of a proposed class of end payors of Provigil ® (the “End Payor Class”), by certain individual end payors, by certain retail chain pharmacies and by Apotex, Inc. (collectively, these cases are referred to as the “Philadelphia Modafinil Action”). Separately, Apotex challenged Cephalon's Provigil ® patent, and in October 2011, the Court found the patent to be invalid and unenforceable based on inequitable conduct. This decision was affirmed on appeal in April 2013. Teva has either settled or reached agreements in principle to settle with all of the plaintiffs in the Philadelphia Modafinil Action. However, one of the end payors, United Healthcare Services, took the position that it is not bound by the settlement that was agreed to on its behalf and brought a separate action in Minnesota federal court. On February 6, 2017, the Minnesota court granted Teva ' s motion to transfer that action to the U.S. District Court for the Eastern District of Pennsylvania, where Teva has also filed suit to enforce the settlement. In February 2008, following an investigation, the FTC sued Cephalon, alleging that Cephalon violated Section 5 of the Federal Trade Commission Act, which prohibits unfair or deceptive acts or practices in the marketplace, by unlawfully maintaining a monopoly in the sale of Provigil ® and improperly excluding generic competition (the “FTC Modafinil Action”). In addition to the Philadelphia Modafinil Action and the FTC Modafinil Action, the City of Providence ( Rhode Island ) and the State of Louisiana have also filed lawsuits against Cephalon and other Teva subsidiaries. Teva settled its suit with the City of Providence, and won its motion to dismiss against the State of Louisiana. Cephalon and Teva have also reached a settlement with 48 state attorneys general, which was approved by the court on November 7, 2016. Certain other claimants have given notices of potential claims related to these settlement agreements. Annual sales of Provigil ® were approximately $500 million at the time of the settlement agreements, and approximately $1 billion when the first generic modafinil product was launched in March 2012. In May 2015, Cephalon entered into a consent decree with the FTC under which the FTC dismissed its claims against Cephalon in the FTC Modafinil Action in exchange for payment of $1.2 billion (less set-offs for prior settlements) by Cephalon and Teva into a settlement fund. The net amount paid into the settlement fund may be (and has been) used to settle certain other related cases, including the claims in the litigations described above, as well as other government investigations. Under the consent decree, Teva also agreed to certain injunctive relief with respect to the types of settlement agreements Teva may enter into to resolve patent litigation in the United States for a period of ten years. If, at the end of the ten years, the entire settlement fund has not been fully disbursed, any amount remaining will be paid to the Treasurer of the United States. In July 2015, Teva made a payment into the settlement fund for the difference of $1.2 billion less the amount of the agreed-upon settlements reached as of that date. Management recorded an additional charge of $398 million in the second quarter of 2015 as a result of the settlement with the FTC. In January 2009, the FTC and the State of California filed a lawsuit in California federal court alleging that a September 2006 patent lawsuit settlement between Watson and Solvay Pharmaceuticals, Inc. (“Solvay”) relating to AndroGel ® 1% (testosterone gel) violated the antitrust laws. Additional lawsuits alleging similar claims were later filed by private plaintiffs (including plaintiffs purporting to represent classes of similarly situated claimants), and the various actions were consolidated in a multidistrict litigation in Georgia federal court. In February 2010, the court granted Watson's motion to dismiss all claims except certain sham litigation claims brought by the private plaintiffs. Those sham litigation claims were later dismissed on summary judgment and appealed to the Eleventh Circuit. In June 2013, the United States Supreme Court reversed the dismissal of the FTC's reverse-payment claims in the AndroGel decision referenced above, and ordered the case remanded. The Eleventh Circuit also remanded the private plaintiffs' cases. In May 2015, Giant Eagle, Inc., an individual direct purchaser opt-out plaintiff, filed a new complaint, alleging similar claims, in Pennsylvania federal court. That action was transferred to the multidistrict litigation in Georgia, and Watson answered the complaint in August 2015. Discovery remains ongoing in both the multidistrict and FTC litigations. On May 19, 2016, the indirect purchaser plaintiffs stipulated to the voluntary dismissal of their claims with prejudice. On October 14, 2016, Actavis Holdco U.S., Inc. (successor-in-interest to Watson) moved for summary judgment on the grounds that the FTC's case is moot in light of the above-described consent decree stemming from the FTC Modafinil Action. That motion remains pending. Annual sales of AndroGel ® 1% at the time of the settlement were approximately $350 million, and annual sales of the AndroGel franchise (AndroGel ® 1% and AndroGel ® 1.62%) were approximately $140 million and $1.05 billion, respectively, at the time Actavis launched its generic version of AndroGel ® 1% in November 2015. In April 2011, the European Commission opened a formal investigation against both Cephalon and Teva to assess whether the 2005 settlement agreement between the parties might have had the object or effect of hindering the entry of generic modafinil. The Commission has indicated to Teva that it intends to issue a statement that will specify the initial findings of the investigation. Teva subsidiaries Barr Laboratories, Inc. (“Barr”) and The Rugby Group (“Rugby”) are defendants in actions in California, Kansas and Florida state courts alleging that a January 1997 patent litigation settlement agreement between Barr, Rugby (then a subsidiary of Sanofi Aventis) and Bayer Corporation concerning the antibiotic ciprofloxacin was anticompetitive and violated state antitrust and consumer protection laws. In addition, Rugby is also named as a defendant in Tennessee. In the California case, the trial court granted defendants' summary judgment motions, and the court of appeal affirmed in October 2011. While an appeal was pending before the California Supreme Court, the trial court approved a $74 million class settlement with Bayer. In May 2015, the California Supreme Court reversed and remanded the case back to the trial court for a rule of reason inquiry as to the remaining defendants, including Barr and Rugby. In August 2016, Rugby agreed to settle with plaintiffs for $100 million, which was indemnified by Sanofi Aventis. The settlement was approved by the court on November 4, 2016. On January 18, 2017, Barr agreed to settle with plaintiffs for $225 million and a provision has been included in the financial statements. On January 25, 2017, plaintiffs filed a motion seeking preliminary approval of that settlement, and a hearing is scheduled for February 17, 2017 for that motion. Based on the plaintiffs' expert testimony in the California case, estimated sales of ciprofloxacin in California were approximately $500 million during the alleged damages period. In the Kansas action, the court granted preliminary approval of the settlement Bayer entered into with plaintiffs in June 2015. In July 2015, Barr and the remaining co-defendants also agreed to settle with the plaintiffs; the court granted final approval of the settlement on June 6, 2016. The Florida case has been administratively closed by the court. In December 2011, three groups of plaintiffs sued Wyeth and Teva for alleged violations of the antitrust laws in connection with their settlement of patent litigation involving extended release venlafaxine (generic Effexor ® XR) entered into in November 2005. The cases were filed by a purported class of direct purchasers, by a purported class of indirect purchasers and by certain chain pharmacies. The plaintiffs claim that the settlement agreement between Wyeth and Teva unlawfully delayed generic entry. In October 2014, the court granted Teva's motion to dismiss in the direct purchaser cases, after which the parties agreed that the court's reasoning applied equally to the indirect purchaser cases. Plaintiffs filed notices of appeal, and the Third Circuit has consolidated the appeal with a separate antitrust case in which Teva is not a party, In re Lipitor Antitrust Litigation , solely for purposes of disposition by the same appellate panel. Argument on the issue of whether the appeal should be transferred to the Federal Circuit was heard on September 27, 2016. Annual sales of Effexor ® XR were approximately $2.6 billion at the time of settlement and at the time generic versions were launched in July 2010. In February 2012, two purported classes of direct-purchaser plaintiffs sued GSK and Teva in New Jersey federal court for alleged violations of the antitrust laws in connection with their settlement of patent litigation involving lamotrigine (generic Lamictal ® ) entered into in February 2005. In August 2012, a purported class of indirect purchaser plaintiffs filed a nearly identical complaint against GSK and Teva in the same court. The plaintiffs claim that the settlement agreement unlawfully delayed generic entry and seek unspecified damages. In December 2012, the court dismissed the cases. In January 2014, the court denied the direct purchaser plaintiffs' motion for reconsideration and affirmed its original dismissal of the cases. In June 2015, the Third Circuit reversed and remanded for further proceedings. On February 19, 2016, Teva and GSK filed a petition for a writ of certiorari in the United States Supreme Court, which was denied on November 7, 2016. In the meantime, litigation has resumed in both the direct purchaser and indirect purchaser actions. Teva and GSK filed a motion for judgment on the pleadings in the indirect purchaser action in December 2015, which the court granted in part and denied in part in March 2016. On September 21, 2016, GSK, Teva and the indirect purchaser plaintiffs agreed to settle the litigation, and on October 27, 2016, the indirect purchaser plaintiffs stipulated to the dismissal of their claims with prejudice. A provision has been included in the financial statements for the dismissed matter. Annual sales of Lamictal ® were approximately $950 million at the time of the settlement, and approximately $2.3 billion at the time generic competition commenced in July 2008. In April 2013, purported classes of direct purchasers of, and end payors for, Niaspan ® (extended release niacin) sued Teva and Abbott for violating the antitrust laws by entering into a settlement agreement in April 2005 to resolve patent litigation over the product. A multidistrict litigation has been established in the U.S. District Court for the Eastern District of Pennsylvania. Teva and Abbott's motion to dismiss was denied in September 2014. Throughout 2015 and in January 2016, several individual direct purchaser opt-out plaintiffs filed complaints with allegations nearly identical to those of the direct purchaser class. In October 2016, the District Attorney for Orange County, California, filed a similar complaint, which has since been amended, in California state court alleging violations of state law. On February 10, 2017, Teva and Abbott filed a demurrer seeking to dismiss the Orange County claims on statute of limitations grounds, and also moved to strike all claims for restitution and civil penalties to the extent they are not limited to alleged activity in Orange County. Those filings remain pending. Annual sales of Niaspan ® were approximately $416 million at the time of the settlement and approximately $1.1 billion at the time generic competition commenced in September 2013. Since July 2013, numerous lawsuits have been filed in several federal courts by purported classes of end payors for, and direct purchasers of, Solodyn ® ER (minocycline hydrochloride) against Medicis, the innovator, and several generic manufacturers, including Teva. The lawsuits allege, among other things, that the settlement agreements between Medicis and the generic manufacturers violated the antitrust laws. Teva entered into its agreement with Medicis in March 2009. A multidistrict litigation has been established in the U.S. District Court for the District of Massachusetts. In September 2014, plaintiffs filed an amended complaint that did not name Teva as a defendant. Annual sales of Solodyn ® ER were approximately $380 million at the time Teva settled and approximately $765 million at the time generic competition entered the market on a permanent basis in November 2011. In November 2013, a putative class action was filed in Pennsylvania federal court against Actavis, Inc. and certain of its affiliates, alleging that Watson's 2012 patent lawsuit settlement with Endo Pharmaceuticals Inc. relating to Lidoderm ® (lidocaine transdermal patches) violated the antitrust laws. Additional lawsuits containing similar allegations followed on behalf of other classes of putative direct purchaser and end-payer plaintiffs, and the cases have been consolidated as a multidistrict litigation ( “ MDL ”) in federal court in California. Defendants moved to dismiss, and in November 2014, the court granted the motions in part but denied them with respect to the claims under Section 1 of the Sherman Act. Plaintiffs then filed amended consolidated complaints in December 2014, and additional complaints have followed from retailers acting in their individual capacities. Discovery in these cases is ongoing. In March 2016, the FTC filed a lawsuit in Pennsylvania federal court against Allergan plc, Watson, Endo and Impax Laboratories, Inc. challenging (1) Watson's 2012 patent lawsuit settlement with Endo related to Lidoderm ® and (2) a June 2010 patent litigation settlement between Endo and Impax related to Opana ® ER (generic oxymorphone extended release tablets). The FTC's allegations against Watson relate to the Lidoderm ® settlement only (and not the Opana ® ER settlement). The defendants moved to sever the Lidoderm ® -related claims from the Opana ® ER-related claims, and also to dismiss the FTC's claims outright. On October 20, 2016, the court granted Watson's and Impax's motions to sever and ordered the FTC to file new, individual complaints. The court denied the defendants' motions to dismiss as moot, with leave to re-file once the FTC files new complaints. On October 25, 2016, the FTC filed a notice of voluntary dismissal. On October 26, 2016, Endo and Watson filed a complaint in Pennsylvania federal court seeking a declaratory judgment that the FTC's claims are not authorized by statute, or, in the alternative, that the FTC does not have statutory authority to pursue a disgorgement remedy. On December 30, 2016, the FTC moved to dismiss the declaratory judgment complaint. The court denied that motion as moot on February 1, 2017, when it consolidated Watson's action with a later-filed declaratory judgment action broug

EQUITY

EQUITY	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Equity	ee . A ccumulated other comprehensive income (loss): The components of accumulated other comprehensive loss attributable to Teva are presented in the table below: Net Unrealized Gains/(Losses) Benefit Plans Foreign currency translation adjustments Available-for-sale securities Derivative financial instruments Actuarial gains/(losses) and prior service (costs)/credits Total Balance, 1 January, 2014 151 5 (197) (50) (91) Other comprehensive income/(loss) before reclassifications (1,429) (12) 240 (55) (1,256) Amounts reclassified to the statements of income (5) 2 (3) (2) (8) Net other comprehensive income/(loss) before tax (1,434) (10) 237 (57) (1,264) Corresponding income tax - (2) - 14 12 Net other comprehensive income/(loss) after tax* (1,434) (12) 237 (43) (1,252) Balance, December 31, 2014 (1,283) (7) 40 (93) (1,343) Other comprehensive income/(loss) before reclassifications (1,131) (413) 137 33 (1,374) Amounts reclassified to the statements of income 24 737 (2) 4 763 Net other comprehensive income/(loss) before tax (1,107) 324 135 37 (611) Corresponding income tax 6 (5) - (2) (1) Net other comprehensive income/(loss) after tax* (1,101) 319 135 35 (612) Balance, December 31, 2015 (2,384) 312 175 (58) (1,955) Other comprehensive income/(loss) before reclassifications (355) (456) (491) (26) (1,328) Amounts reclassified to the statements of income 3 140 14 (6) 151 Net other comprehensive income/(loss) before tax (352) (316) (477) (32) (1,177) Corresponding income tax (33) (3) - 9 (27) Net other comprehensive income/(loss) after tax* (385) (319) (477) (23) (1,204) Balance, December 31, 2016 (2,769) (7) (302) (81) (3,159) *Amounts do not include foreign currency translation adjustments attributable to noncontrolling interests of $60 million loss in 2016, $1 million loss in 2015 and $6 million loss in 2014. " id="sjs-B4" xml:space="preserve">NOTE 1 4 —EQUITY: Ordinary shares and ADSs As of December 31, 2016 , Teva had approximately 1.1 b illio n ordinary shares issued (December 31, 2015 — 1 .0 b illion ). Teva ordinary shares are traded on the T el-Aviv Stock Exchange and, in the form of American Deposit a ry Shares, each of which represents one ordinary share, on the New York Stock Exchange in the United States. On December 8, 2015, the Company completed an offering of 54 million ADSs at $62.50 per share. The net proceeds from the offering of $3.3 billion, together with the net proceeds of $3.3 billion from the mandatory convertible preferred shares offering referred to below, were used to finance a portion of the cash consideration payable in connection with the Actavis Generics acquisition and related fees and expenses, to finance the Rimsa acquisition and otherwise for general corporate purposes. On January 6, 2016, Teva sold an additional 5.4 million ADSs , pursuant to the underwriters' exercise in full of their overallotment option . As a result, Teva received an additional $329 million in net proceeds, for an aggregate of approximately $3.62 billion including the initial closing. On August 2, 2016, Teva issued approximately 100.3 million Teva shares to Allergan in connection with the closing of the Actavis Generics acquisition. Mandato ry convertible preferred shares Also, on December 8, 2015, the Company completed an offering of 3,375,000 of its 7% mandatory convertible preferred shares. The mandatory convertible preferred shares have no voting rights and rank senior to Teva's ordinary shares with respect to dividends and distributions upon our liquidation, winding-up or dissolution . Dividends on the mandatory convertible preferred shares are payable on a cumulative basis when, as and if declared by Teva's board of directors at an annual rate of 7% on the liquidation preference of $1,000.00 per mandatory convertible preferred share. Declared dividends will be paid in cash on March 15, June 15, September 15 and December 15 of each year, through and including December 15, 2018. Dividends accumulate from the most recent date as to which dividends shall have been paid or, if no dividends have been paid, from the first original issue date and, to the extent legally permitted and declared by the board of directors, such dividend will be paid in cash on each dividend payment date; provided that any undeclared or unpaid dividends will continue to accumulate. So long as any m andatory c onvertible p referred s hare remains outstanding, no dividend or distribution shall be declared or paid on Teva's ordinary shares, ADSs or any other class or series of junior shares, and none of Teva's ordinary shares, ADSs or any other class or series of junior shares shall be purchased, redeemed or otherwise acquired for consideration by us or any of Teva's subsidiaries unless all accumulated and unpaid dividends for all preceding dividend periods have been declared and paid upon, or a sufficient sum of cash has been set apart for the payment of such dividends upon, all outstanding m andatory c onvertible p referred s hares. Each mandatory convertible preferred share will automatically convert on December 15, 2018 ( the " mandatory conversion date") into between 13.3 and 16.0 ADSs, subject to anti-dilution adjustments. The number of ADSs issuable upon conversion of the mandatory convertible preferred shares will be determined based on the volume weighted average price per ADS over the 20 consecutive trading day period beginning on and including the 22nd scheduled trading day immediately preceding the mandatory conversion date. At any time prior to the mandatory conversion date, other than during a fundamental change conversion period as defined, holders of the mandatory convertible preferred shares may elect to convert each mandatory convertible preferred share into ADSs at the minimum conversion rate of 13.3 ADSs per mandatory convertible preferred share, subject to anti-dilution adjustments. In addition, holders may elect to convert their mandatory convertible preferred shares during a specified period beginning on the fundamental change effective date, in which case such mandatory convertible preferred shares will be converted into ADSs at the fundamental change conversion rate and converting holders will also be entitled to receive a fundamental change dividend make-whole amount and any accumulated but unpaid dividends. On January 6, 2016, Teva sold an additional 337,500 mandatory convertible preferred shares pursuant to the underwriters exercise in full of their overallotment option. As a result, Teva received an additional $329 million in net proceeds, for an aggregate of approximately $3.62 billion including the initial closing. These additional 337,500 mandatory convertible preferred shares accumulated dividends from December 8, 2015. As of December 31, 2016, the accrued dividends payable on the mandatory convertible preferred shares were $1 1 million. Share repurchase program In October 201 4 , Teva's board of directors authorized the Company to increase its share repurchase program up to $3 billion of its ordinary shares and ADS s . A s of December 31, 2016 , $2.1 billion rem ain available for repurchases. This repurchase authorization has no time limit. Repurchases may be commenced or suspended at any time or from time to time. Teva did not repurchase any of its shares during 2016 . The following table summarizes the shares repurchased and the amount Teva spent on these repurchases: Year ended December 31, 2016 2015 2014 (in millions) Amount spent on shares repurchased $ - $ 439 $ 500 Number of shares repurchased - 7.7 8.7 c . Stock-based compensation plans: Stock-based compensation plans are comprised of employee stock option s , RSUs, PSUs, and other equity-based awards to employees, officers and directors. The purpose of the plans is to enable the Company to attract and retain qualified personnel and to motivate such persons by providing them with equity participation in the Company. On June 29, 2010, the Teva 2010 Long-Term Equity-Based Incentive Plan was approved by Teva's shareholders, under which 70 million equivalent share units, including options exercisable into ordinary shares, RSUs and PSUs, were approved for grant. The 2010 Plan expired on June 28, 2015 (except with respect to awards outstanding on that date), and no additional awards under the 2010 Plan may be made . On September 3, 2015, the Teva 2015 Long-Term Equity-Based Incentive Plan was approved by Teva's shareholders, under which 43.7 million equivalent share units, including options exercisable into ordinary shares, RSUs and PSUs, were approved for grant. On April 18, 2016, Teva's shareholders approved an increase of an additional 33.3 million equivalent share units to the share reserve of Teva's 2015 Long-Term Equity-Based Incentive Plan, so that 77 million equivalent share units, including options exercisable into ordinary shares, RSUs and PSUs, a re approved for grant. As of December 31, 2016 , 56.1 million equivalent share units remained available for future awards. In the past, Teva had various employee stock and incentive plans under which stock options and other share-based awards were granted. Stock options and other share-based awards granted under such prior plans continue in accordance with the terms of the respective plans. The vesting period of the outstanding options, RSUs and PSUs is generally from 1 to 4 years from the date of grant. The rights of the ordinary shares obtained from the exercise of options, RSUs or PSUs are identical to those of the other ordinary shares of the Company. The contractual term of these options is primarily for seven years in prior plans and ten years for options granted under the 2010 and 2015 plans described above. Status of options A summary of the status of the options as of December 31, 2016, 2015 and 2014, and changes during the years ended on those dates, is presented below (the number of options represents ordinary shares exercis able in respect thereof). Year ended December 31, 2016 2015 2014 Number (in thousands) Weighted average exercise price Number (in thousands) Weighted average exercise price Number (in thousands) Weighted average exercise price Balance outstanding at beginning of year 25,233 $ 49.69 26,733 $ 45.91 32,481 $ 45.05 Changes during the year: Granted 10,895 53.21 7,655 59.82 6,935 48.60 Exercised (766) 44.24 (8,127) 46.88 (11,423) 45.05 Forfeited (1,382) 54.09 (1,028) 48.96 (1,260) 46.11 Expired (1,191) 52.79 - - - Balance outstanding at end of year 32,789 50.71 25,233 49.69 26,733 45.91 Balance exercisable at end of year 14,468 46.06 11,299 44.67 12,632 47.16 The weighted average fair value of options granted during the years was estimated by using the Black-Scholes option-pricing model as follows: Year ended December 31, 2016 2015 2014 Weighted average fair value $ 9.4 $ 10.9 $ 9.3 The fair value of these options was estimated on the date of grant, based on the following weighted average assumptions: Year ended December 31, 2016 2015 2014 Dividend yield 2.6% 2.3% 2.9% Expected volatility 25% 24% 25% Risk-free interest rate 1.4% 1.8% 1.9% Expected term 5 years 5 years 6 years The expected term was estimated based on the weighted average period the options granted are expected to be outstanding taking into consideration the current vesting of options and the historical exercise patterns of existing options. The expected volatili ty assumption used is based on a blend of the historical and implied volatility of the Company's stock. The risk-free interest rate used is based on the yield of U.S . Treasuries with a maturity closest to the expected term of the options granted. The divid end yield assumption reflects the expected dividend yield based on historical dividends and expected dividend growth . The following tables summarize information at December 31, 2016 regarding the number of ordinary shares issuable upon (1) outstanding options and (2) vested options: (1) Number of ordinary shares issuable upon exercise of outstanding options Range of exercise prices Balance at end of period (in thousands) Weighted average exercise price Weighted average remaining life Aggregate intrinsic value (in millions) Number of shares $ Years $ Lower than $35.11 21 17.83 6.33 * $35.11 - $40.10 3,338 38.55 6.32 - $40.11 - $45.10 4,483 42.02 5.26 - $45.11 - $50.10 7,179 48.54 6.33 - $50.11 - $55.10 9,372 53.15 8.99 - $55.11 - $60.10 2,414 57.02 8.01 - $60.11 - $67.00 5,982 60.37 8.13 - Total 32,789 50.71 7.40 * (2) Number of ordinary shares issuable upon exercise of vested options Range of exercise prices Balance at end of period (in thousands) Weighted average exercise price Weighted average remaining life Aggregate intrinsic value (in millions) Number of shares $ Years $ Lower than $35.11 6 18.02 6.13 * $35.11 - $40.10 3,013 38.66 6.06 - $40.11 - $45.10 4,133 42.00 5.04 - $45.11 - $50.10 5,000 48.44 5.94 - $50.11 - $55.10 528 50.55 4.28 - $55.11 - $60.10 283 58.33 3.61 - $60.11 - $67.00 1,505 60.35 7.90 - Total 14,468 46.06 5.81 * * Represents an amount less than 0.5 million. The aggregate intrinsic value in the above tables represents the total pre-tax intrinsic value, based on the Company's closing stock price of $36.25 on December 31, 2016, less the weighted average exercise price in each range. This represents the potential amount receivable by the option holders had all option holders exercised their options as of such date. A s of December 31, 2016 , there was a limited amount of options exercisable that were in-the-money. The total intrinsic value of options exercised during the years ended December 31, 2016, 2015 and 2014 was $5 million, $120 million and $74 million, respectively, based on the Company's average stock price of $50.96 , $61.66 and $51.57 during the years then ended, respectively . Status of non-vested RSUs The fair value of RSUs and PSUs is estimated based on the market value of the Company's stock on the date of award grant , less an estimate of dividends that will not accrue to RSU and PSU holders prior to vesting. The following table summarizes information about the number of RSUs and PSUs issued and outstanding: Year ended December 31, 2016 2015 2014 Number (in thousands) Weighted average grant date fair value Number (in thousands) Weighted average grant date fair value Number (in thousands) Weighted average grant date fair value Balance outstanding at beginning of year 2,551 $51.43 2,466 $43.05 2,512 $40.48 Granted 3,193 40.78 1,519 56.75 1,342 46.09 Vested (830) 45.79 (1,112) 41.04 (1,146) 41.55 Forfeited (278) 46.08 (322) 48.27 (242) 40.05 Balance outstanding at end of year 4,636 45.15 2,551 51.43 2,466 43.05 The Company expenses compensation costs based on the grant-date fair value. For the years ended December 31, 2016 , 2015 and 2014 , the Company recorded stock-based compensation costs as follows: Year ended December 31, 2016 2015 2014 (U.S. $ in millions) Employee stock options $ 56 $ 62 $ 47 RSUs and PSUs 66 55 38 Total stock-based compensation expense 122 117 85 Tax effect on stock-based compensation expense 26 19 14 Net effect $ 96 $ 98 $ 71 The total unrecognized compensation cost before tax on employee stock options and RSU /PSUs amounted to $130 million and $142 million, respectively, at December 31, 2016 , and is expected to be recognized over a weighted average period of approximately 1.9 year s. d . Dividends: Commencing in April 2015 , d ividends on our ordinary shares were declared in U.S. dollars . Dividends paid per share in the years ended December 31, 2016, 2015 and 2014 were $1.36 , $1.36 and $1.34, respectively. Subsequent to December 31, 2016, the Company declared an additional dividend of $0.34 per ordinary share in respect of the fourth quarter of 2016. In add ition, d ividend s paid on our mandatory co nvertible preferred shares per share in the year ended December 31, 2016 were $7 1. 5 6 . Subsequent to December 31, 2016, the Company declared an additional dividend to mandatory convertible preferred shares of $17.50 per share in respect of the fourth quarter of 2016. e <> ee . A ccumulated other comprehensive income (loss): The components of accumulated other comprehensive loss attributable to Teva are presented in the table below: Net Unrealized Gains/(Losses) Benefit Plans Foreign currency translation adjustments Available-for-sale securities Derivative financial instruments Actuarial gains/(losses) and prior service (costs)/credits Total Balance, 1 January, 2014 151 5 (197) (50) (91) Other comprehensive income/(loss) before reclassifications (1,429) (12) 240 (55) (1,256) Amounts reclassified to the statements of income (5) 2 (3) (2) (8) Net other comprehensive income/(loss) before tax (1,434) (10) 237 (57) (1,264) Corresponding income tax - (2) - 14 12 Net other comprehensive income/(loss) after tax* (1,434) (12) 237 (43) (1,252) Balance, December 31, 2014 (1,283) (7) 40 (93) (1,343) Other comprehensive income/(loss) before reclassifications (1,131) (413) 137 33 (1,374) Amounts reclassified to the statements of income 24 737 (2) 4 763 Net other comprehensive income/(loss) before tax (1,107) 324 135 37 (611) Corresponding income tax 6 (5) - (2) (1) Net other comprehensive income/(loss) after tax* (1,101) 319 135 35 (612) Balance, December 31, 2015 (2,384) 312 175 (58) (1,955) Other comprehensive income/(loss) before reclassifications (355) (456) (491) (26) (1,328) Amounts reclassified to the statements of income 3 140 14 (6) 151 Net other comprehensive income/(loss) before tax (352) (316) (477) (32) (1,177) Corresponding income tax (33) (3) - 9 (27) Net other comprehensive income/(loss) after tax* (385) (319) (477) (23) (1,204) Balance, December 31, 2016 (2,769) (7) (302) (81) (3,159) *Amounts do not include foreign currency translation adjustments attributable to noncontrolling interests of $60 million loss in 2016, $1 million loss in 2015 and $6 million loss in 2014.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2016
Income Taxes [Absract]
Income Taxes	NOTE 15—INCOME TAXES: a. Income before income taxes: Year ended December 31, 2016 2015 2014 (U.S. $ in millions) Parent Company and its Israeli subsidiaries $ 1,516 $ 1,932 $ 2,139 Non-Israeli subsidiaries (692) 420 1,499 $ 824 $ 2,352 $ 3,638 b. Income taxes: Year ended December 31, 2016 2015 2014 (U.S. $ in millions) In Israel $ 209 $ 149 $ 147 Outside Israel 312 485 444 $ 521 $ 634 $ 591 Current $ 481 $ 298 $ 879 Deferred 40 336 (288) $ 521 $ 634 $ 591 Year ended December 31, 2016 2015 2014 (U.S. $ in millions) Income before income taxes $ 824 $ 2,352 $ 3,638 Statutory tax rate in Israel 25.0% 26.5% 26.5% Theoretical provision for income taxes $ 206 $ 623 $ 964 Increase (decrease) in effective tax rate due to: The Parent Company and its Israeli subsidiaries - Mainly tax benefits arising from reduced tax rates under benefit programs (212) (337) (524) Non-Israeli subsidiaries (*) 546 447 88 Increase (decrease) in other uncertain tax positions—net (19) (99) 63 Effective consolidated income taxes $ 521 $ 634 $ 591 * In 2016, income before income taxes included impairments and devaluations in non-Israeli subsidiaries that did not have a corresponding tax effect, with the result that the tax rate on our non-Israeli subsidiaries is higher than usual. The effective tax rate is the result of a variety of factors, including the geographic mix and type of products sold during the year, different effective tax rates applicable to non-Israeli subsidiaries that have tax rates above Teva's average tax rates , the impact of impairment, restructuring and legal settlement charges and adjustments to valuation allowances on deferred tax assets on such subsidiaries . c. Deferred income taxes: December 31, 2016 2015 (U.S. $ in millions) Short-term deferred tax assets—net (*): Inventory related $ 0 $ 382 Sales reserves and allowances 0 254 Provision for legal settlements 0 89 Provisions for employee-related obligations 0 45 Carryforward losses and deductions (**) 0 60 Other 0 64 0 894 Valuation allowance—in respect of carryforward losses and deductions that may not be utilized 0 (190) $ 0 $ 704 * 2016 balances are presented under long term deferred taxes, due to the implementation of ASU 2015-17. ** The amounts are shown after reduction for unrecognized tax benefits of $108 million, at December 31, 2015, where Teva has net operating loss carryforwards, similar tax losses, and/or tax credit carryforwards that are available, under the tax law of the applicable jurisdiction, to offset any additional income taxes that would result from the settlement of a tax position. December 31, 2016 2015 Long-term deferred tax assets (liabilities)—net(*): (U.S. $ in millions) Inventory related $ 344 $ 0 Sales reserves and allowances 311 0 Provision for legal settlements 232 0 Intangible assets (***) (5,569) (1,900) Carryforward losses and deductions and credits (**) (***) 1,922 989 Property, plant and equipment (312) (207) Provisions for employee related obligations 108 65 Other 163 125 (2,801) (928) Valuation allowance—in respect of carryforward losses and deductions that may not be utilized (***) (1,689) (570) $ (4,490) $ (1,498) $ (4,490) $ (794) * 2016 balances are presented under long term deferred taxes, due to the implementation of ASU 2015-17. ** The amounts are shown after reduction for unrecognized tax benefits of $23 million and $70 million as of December 31, 2016 and 2015, respectively. This amount represents the tax effect of gross carryforward losses and deductions with the following expirations: 2017-2019 — $163 million; 2020-2026 — $551 million; 2027 and thereafter — $176 million. The remaining balance—$1055 million—can be utilized with no expiration date. *** The increase in 2016 was mianly due to Actavis Generics. The deferred income taxes are reflected in the balance sheets among: December 31, 2016 2015 (U.S. $ in millions) Current assets—deferred income taxes (*) $ - $ 735 Current liabilities—other current liabilities (*) - (31) Other non-current assets 725 250 Long-term liabilities—deferred income taxes (5,215) (1,748) $ (4,490) $ (794) (*) 2016 balances are presented under long term deferred taxes, due to the implementation of ASU 2015-17. Deferred taxes have not been provided for tax-exempt profits earned by the Company from Approved Enterprises through December 31, 2013 (except to the extent released due to payments made in 2013 under Amendment 69 of the Investment Law, as described below) , as the Company intends to permanently reinvest these profits and does not currently foresee a need to distribute dividends out of these earnings. For the same reason, deferred taxes have not been provided for distributions of income from the Company's fo reign subsidiaries. See n ote 1 5f . d . Uncertain tax positions: The following table summarizes the activity of Teva's gross unrecognized tax benefits: Year ended December 31, 2016 2015 2014 (U.S. $ in millions) Balance at the beginning of the year $ 648 $ 713 $ 665 Increase (decrease) related to prior year tax positions, net 23 (6) 38 Increase related to current year tax positions 71 43 51 Decrease related to settlements with tax authorities and lapse of applicable statutes of limitations (103) (99) (38) Liabilities assumed in acquisitions 101 0 0 Other (6) (3) (3) Balance at the end of the year $ 734 $ 648 $ 713 Uncertain tax positions, mainly of a long-term nature, included accrued potential penalties and interest of $83 million, $101 million and $87 million as of December 31, 2016, 2015 and 2014, respectively. The total amount of interest and penalties reflected in the consolidated statements of income was a net decrease of $(18) million for the year ended December 31, 2016 , a net increase of $14 million for the year ended December 31, 2015 and a net increase of $12 million for the year ended December 31, 2014. Substantially all the above uncertain tax benefits, if recognized, would reduce Teva's annual effective tax rate. Teva does not expect uncertain tax positions to change significantly over the next 12 months, except in the case of settlements with tax authorities, the likelihood and timing of which is difficult to estimate. e. Tax assessments: Teva file s income tax returns in various jurisdictions with varying statutes of limitations. The Parent Company and its subsidiaries in Israel have received final tax assessments through tax year 200 7 . In 2013, Teva settled the 200 5 -2007 income tax as sessment with the Israeli tax authorities, paying $ 213 million . No further taxes are due in relation to these years. Certain guidelines which were set pursuant to the agreement reached in relation to the 2005-2007 assessment have be en implemented in the audit of tax years 2008-2011, and are reflected in the provisions. T he Israeli tax authorities issued tax assessmen t decree for 2008- 201 1 and a tax assessment for 201 2 , challe nging the Company's positions on several issues. Teva has protested the 2012 assessment and the 2008-2011 decrees . The Company believes it has adequately provided for these items and that any adverse results would have an immaterial impact on Teva's financial statements. The Company's subsidiaries in North America and Europe have received final tax assessments mainly through tax year 2007 and 2008, respectively. f . Basis of taxation: The Company and its subsidiaries are subject to tax in many jurisdictions , and a certain degree of estimation is required in recording the assets and liabilities related to income taxes. The Company believes that its accruals for tax liabilities are adequate for all open years. The Company considers various factors in making these assessments, including past history, recent interpretations of tax law, and the specifics of each matter. Because tax regulations are subject to interpretation and tax litigation is inherently uncertain, these assessments can involve a series of complex judgments regarding future events. Incentives Applicable until 2013 Under the incentives regime applicable to us until 2013, industrial projects of Teva and certain of its Israeli subsidiaries were eligible for “Approved Enterprise” status. Most of our projects in Israel have been granted Approve d Enterprise status under the "a lternative" tax benefit track which offered tax exemption on undistributed income for a period of two to ten years, depending on the location of the enterprise. Upon distribution of such exempt income, the distributing company is subject to corporate tax at the rate ordinarily applicable to the Approved Enterprise's income . Amendment 69 to the Investment Law Pursuant to A mendment 69 to the Investment Law (“Amendment 69”), a company that elected by November 11, 2013 to pay a corporate tax rate as set forth in that amendment (rather than the tax rate applicable to Approved Enterprise income) with respect to undistributed exempt income accumulated by the com pany up until December 31, 2011 is entitled to distribute a dividend from such income without being required to pay additional corporate tax with respect to such dividend. A company that has so elected must make certain qualified investments in Israel over the five-year period commencing in 2013. We invested the entire required amount in 2013. During 2013, we applied the provisions of Amendment 69 to certain exempt profits we accrued prior to 2012. Consequently, we paid $577 million in corporate tax on exempt income of $9.4 billion. Part of this income was distributed as dividends during 2013-2016, while the remainder is available to be distributed as dividends in future years with no additional corporate tax liability. Incentives Applicable starting 2014 : The Incentives Regime – Amendment 68 to the Investment Law Under A mendment 68 to the Investment Law, which we started applying in 2014, upon an irrevocable election made by a company, a uniform corporate tax rate will apply to all qualifying industrial income of such company (“Preferred Enterprise”), as opposed to the previous law's incentives, which were limited to income from Approved Enterprises during the benefits period. Under the law, when the election is made, the uniform tax rate for 2014 until 2016 was 9% in areas in Israel designated as Development Zone A and 16% elsewhere in Israel. The uniform tax rate for Development Zone A, as of January 1, 2017, is 7.5% (as part of changes enacted in Amendment 73, as described below). The profits of these “Preferred Enterprise” will be freely distributable as dividends, subject to a 20% or lower withholding tax, under an applicable tax treaty. Certain “Special Preferred Enterprises ” that meet more stringent criteria (significant investment, R&D or employment thresholds) will enjoy further reduced tax rates of 5% in Zone A and 8% elsewhere. In order to be classified as a “Special Preferred Enterprises ,” the approval of three governmental authorities in Israel is required. The New Technological Enterprise Incentives Regime – Amendment 73 to the Investment Law Amendment 73 to the Investment Law, became effective on January 1, 2017, provided that regulations are promulgated no later than March 31, 2017 to implement the "Nexus Principles" based on OECD guidelines recently published as part of the Base Erosion and Profit Shifting (BEPS) project. The new incentives regime will apply to "Preferred Technological Enterprises" that meet certain conditions, including: i nvestment of at least 7% of income, or at least NIS 75 million (approximately $19 million) in R&D activities; and one of the following: at least 20% of the workforce (or at least 200 employees) are employed in R&D; a venture capital investment approximately equivalent to at least $2 million was previously made in the company; or growth in sales or workforce by an average of 25% over the three years preceding the tax year A "Special Preferred Technological Enterprise" is an enterprise that meets conditions 1 and 2 above, and in addition has total annual consolidated revenues above NIS 10 billion (approximately $2.5 billion). Preferred Technological Enterprises will be subject to a corporate tax rate of 12% on their income derived from intellectual property , while Special Preferred Technological Enterprises will be subject to 6% on such income. The withholding tax on dividends from these enterprises will be 4% (or a lower rate under a tax treaty, if applicable). We currently believe that we will meet the criteria for the tax rate of a "Special Preferred Technological Enterprise," however, only after the regulations concerning the nexus approach are promulgated we will be able to assess the effect of the new law on our financial results. Income not eligible for Preferred E nterprise benefits is taxed at a regular rate , which was 25 % in 2016 . Starting January 2017, the regular tax rate in Israel was reduced to 24% and is expected to be further reduced to 23% commencing in 2018. The Parent Company and its Israeli subsidiaries elected to compute their taxable income in accordance with Income Tax Regulations (Rules for Accounting for Foreign Investors Companies and Certain Partnerships and Setting their Taxable Income), 1986. Accordingly, the taxable income or loss is calculated in U.S. dollars. Applying these regulations reduce s the effect of U.S. dollar – NIS exchange rate on the Company's Israeli taxable income. Non-Israeli subsidiaries are taxed according to the tax laws in their respective country of residence. Certain manufacturing subsidiaries operate in several jurisdictions outside Israel , some of which benefit from tax incentives such as reduced tax rates, investment tax credits and accelerated deductions.

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	12 Months Ended
	Dec. 31, 2016
Derivative Instruments and Hedging Activities [Absract]
Financial Instruments and Risk Management	NOTE 1 6 – D ERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES: Foreign exchange risk management : In 2016 , approximately 44% of Teva's revenues were denominated in currencies other than the U.S. dollar . As a result, Teva is subject to significant foreign currency risks. The Company enters into forward exchange contracts in non-functional currencies and purchases and writes non-functional currency options in order to hedge the currency exposure on identifiable balance sheet items. In addition, the Company takes steps to reduce exposure by using “natural” hedging. The Company also acts to offset risks in opposite directions among the companies in the Group. The currency hedged items are usually denominated in the following main currencies: the new Israeli shekel (NIS), the euro (EUR), the Swiss franc (CHF), the Japanese yen (JPY), the British pound (GBP), the Hungarian forint (HUF), the Croatian kuna (HRK) , other European currencies, the Mexican peso (MXN) and other Latin American currencies. The writing of options is part of a comprehensive currency hedging strategy. <> The counterparties to the derivatives are comprise d mainly of major banks and, in light of the current financial environment, the Company is monitoring the associated inherent credit risks. The Company does not enter into derivative transactions for trading purposes . Venezuela Venezuela has experienced hyperinflation in recent years. The government of Venezuela currently has two official exchange rates: the DIPRO rate of 10 bolivars per U.S. dollar (which replaced the CENCOEX rate of 6.3 in March 2016) and the DICOM rate, which fluctuates and is currently approximately 650 bolivars per U.S. dollar. Following the announcement of the Venezuelan Central Bank and the Ministry for Banking and Finance of FX Regulation 35, effective March 10, 2016, the DIPRO rate was used to settle transactions involving the importation, manufacture and distribution of pharmaceutical products. Teva used the CENCOEX rate until March 2016 and then replaced it with the DIPRO rate to report its Venezuelan financial position, results of operations and cash flows, since it believe d that the nature of its business operations in Venezuela, which include the importation, manufacture and distribution of pharmaceutical products, qualifie d for the most preferential rates permitted by law. In November 2016, the unofficial exchange rate increased at an accelerated rate, indicating further economic distress. This, together with a decrease in scope of transactions involving the importation, manufacture and distribution of pharmaceutical products that were settled using the DIPRO rate of 10 bolivars per dollar, led Teva to replace the official DIPRO rate it had used to report its Venezuelan financial position, results of operations and cash flows with a blended exchange rate of 273 bolivar per U.S. dollar. We began using this blended exchange rate as of December 1, 2016, and it was determined based on a weighted average of the DIPRO and DICOM exchange rates affecting our transactions. We will reevaluate this blended exchange rate on a quarterly basis. As a result of the developments described above, Teva impaired its monetary balance sheet items related to Venezuela twice in 2016, with a devaluation of $246 million in the first quarter of 2016, following introduction of the DIPRO rate, and an additional devaluation of $500 million in the fourth quarter of 2016, following our decision to adopt a blended rate. In addition, we recorded $133 million in cost of sales, to adjust our inventory balance in Venezuela to reflect the U.S dollar fair market value of the inventory. Interest risk management : The Company raises capital through various debt instruments, including straight notes that bear a fixed or variable interest rate, bank lo ans, securitizations and convertible debentures. In some cases, the Company has swapped from a fixed to a floating interest rate (“fair value hedge”) and from a fixed to a fixed interest rate with an exchange from a currency other than the functional currency (“cash flow hedge”), thereby reducing overall interest expenses or hedging risks associated with interest rate fluctuations. c. Derivative instrument disclosure: The following table summarizes the notional amounts for hedged items, when transactions are designated as hedge accounting: December 31, 2016 2015 (U.S. $ in millions) Cross-currency swap - cash flow hedge $ 588 $ 588 Interest rate swap - fair value hedge 500 1,294 Forward starting interest rate swap - cash flow hedge - 3,500 Treasury lock - cash flow hedge - 500 The following table summarizes the classification and fair values of derivative instruments: Fair value Designated as hedging instruments Not designated as hedging instruments December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 Reported under (U.S. $ in millions) Asset derivatives: Other current assets: Forward starting interest rate swaps - cash flow hedge 26 - Option and forward contracts - 10 25 Other non-current assets: Cross-currency swaps - cash flow hedge 88 78 - Interest rate swaps - fair value hedge 1 - Liability derivatives: Other current liabilities: Forward starting interest rate swaps - cash flow hedge (10) - Treasury lock- cash flow hedge (5) - Option and forward contracts - (17) (11) Senior notes and loans: Interest rate swaps - fair value hedge (2) (11) - Derivatives on foreign exchange contracts hedge Teva's balance sheet items from currency exposure but are not designated as hedging instruments for accounting purposes. With respect to such derivatives, losses of $7 million and gains of $26 million and $ 85 million were recognized under financial expenses - net for the years ended December 31, 2016, 2015 and 2014 respectively. Such losses and gains offset the revaluation of the balance sheet items also booked under financial expenses—net. With respect to the interest rate and cross-currency swap agreements, gains of $15 million, $27 million and $ 41 million were recognized under financial expenses - net for the years ended December 31, 2016, 2015 and 2014 , respectively. Such gains mainly reflect the differences between the fixed interest rate and the floating interest rate. Commencing in the third quarter of 2015, Teva entered into forward starting interest rate swap and treasury lock agreements designated as cash flow hedges of the U.S. dollar debt issuance in July 2016, with respect to $3.75 billion and $1.5 billion notional amounts, respectively. These agreements hedged the variability in anticipated future interest payments due to possible changes in the benchmark interest rate between the date the agreements were entered into and the actual date of the U.S. dollar debt issuance in July 2016 (in connection with the closing of the Actavis Generics acquisition). Certain of the forward starting interest rate swaps and treasury lock agreements matured during the first half of 2016. In July 2016, in connection with the debt issuances described in note 11 , Teva terminated the remaining forward starting interest rate swaps and treasury lock agreements. The termination of these transactions resulted in a loss position of $493 million, of which $242 million were settled on October 7, 2016 and the remaining amount was settled in January 2017. The change in fair value of these instruments recorded in other comprehensive income (loss) will be amortized under financial expenses-net over the life of the debt. With respect to the forward starting interest rate swaps and treasury lock agreements, losses of $12 million were recognized under financial expenses-net f or the year ended December 31, 2016. Such losses mainly reflect the changes in the benchmark interest rate between the date the agreements were entered into and the actual date of the U.S. debt issuance in July 2016. In the third quarter of 2016, Teva terminated interest rate swap agreements designated as fair value hedge relating to its 2.95% senior notes due 2022 with respect to $844 million notional amount and its 3.65% senior notes due 2021 with respect to $450 million notional amount . Settlement of these transactions resulted in a gain position of $41 million. The fair value hedge accounting adjustments of thes e instruments, which are recorded under senior notes and loans, are amortized under financial expenses-net over the life of the debt. With respect to the interest rate swap agreements , gain s of $2 million were recognized under financial expenses-net for the year ended December 31, 2016. In the fo u rth quarter of 2016, Teva entered into interest rate swap agreement designated as fair value hedge relating to its 2.8% senior notes due 2023 with respect to $500 million notional amount of outstanding debt. d. Securitization: In April 2011, Teva established trade receivables securitization program with BNP Paribas Bank. Under the program, Teva sells, on an ongoing basis, certain trade receivables and the right to the collections on those trade receivables to BNP Paribas. Once sold to BNP Paribas, the trade receivables and rights to collection are separate and distinct from Teva's own assets. These assets are unavailable to Teva's creditor s should Teva become insolvent. BNP Paribas has all the rights ensuing from the sale of the securitized trade receivables , including the right to pledge or exchange the assets it received. Consequently, the trade receivables in Teva's consolidated balance sheets is presented net of the securitized receivables. As of December 31, 2016 and 2015 , the balance of Teva's securitized assets sold were $ 6 21 m illion and $ 445 million, respectively. Gains and losses related to these transactions were immaterial for the three years ended December 31, 2016. The following table summarizes the net balance outstanding under the outstanding securitization program: As of and for the year ended December 31, 2016 2015 (U.S. $ in millions) Sold receivables at the beginning of the year $ 445 $ 585 Proceeds from sale of receivables 3,784 3,447 Cash collections (remitted to the owner of the receivables) (3,660) (3,532) Effect of currency exchange rate changes 52 (55) Sold receivables at the end of the year $ 621 $ 445

FINANCIAL EXPENSES NET

FINANCIAL EXPENSES NET	12 Months Ended
	Dec. 31, 2016
Financial Expenses Net [Abstract]
Financial Expenses - Net	NOTE 17—FINANCIAL EXPENSES- NET: Year ended December, 31 2016 2015 2014 (U.S. $ in millions) Venezuela devaluation (1) $ 746 $ - $ - Interest expenses and other bank charges 546 270 300 Other-than-temporary impairment 136 631 6 Income from investments (51) (34) (24) Foreign exchange (gains) losses - net (49) (9) 30 Other, net (2) 2 142 1 Total finance expense — net $ 1,330 $ 1,000 $ 313 (1) For further information regarding the Venezuela devaluation, refer to note 16a. (2) Expenses in 2015 were comprised mainly of expenses relating to the debt tender offer and the termination of related swap agreements.

OTHER EXPENSES

OTHER EXPENSES	12 Months Ended
	Dec. 31, 2016
Restructuring And Impairment [Abstract]
Restructuring And Impairment	NOTE 18—OTHER EXPENSES: a. Impairments, restructuring and others: Impairments, restructuring and others consisted of the following: Year ended December 31, 2016 2015 2014 (U.S. $ in millions) Impairment of long-lived assets (see notes 6 and 8) $ 746 $ 361 $ 387 Contingent consideration (see note 3) 83 399 (20) Acquisition, integration and related costs 261 221 13 Restructuring 245 183 246 Other (636) (33) 24 Total $ 699 $ 1,131 $ 650 Impairments In determining the estimated fair value of the long-lived assets, Teva utilized a discounted cash flow model. The key assumptions within the model related to forecasting future revenue and operating income, an appropriate weighted average cost of capital, and an appropriate terminal value based on the nature of the long-lived asset. The Company's updated forecasts of net cash flows for the impaired assets reflect, among other things, the following: ( i ) for research and development in-process assets, the impact of changes to the development programs, the projected development and regulatory timeframes and the risks associated with these assets; and (ii) for product rights, pricing and volume projections as well as patent life and any significant changes to the competitive environment. Impairment of long-lived assets in 2016 amounted to $746 million, mainly comprised of: Identifiable intangible assets impairments of $589 million were recorded, comprised primarily of ( i ) a $258 million impairment of the full carrying value of Teva's IP R&D asset Revascor ® ( mesenchymal precursor cells), following a decision to exercise a contractual right to terminate Teva's involvement with Mesoblast Ltd. in the ongoing phase 3 trial of Revascor ® ( mesenchymal precursor cell), (ii) a $248 million impairment of the full carrying value of Zecuity ® following a decision to voluntarily suspend sales, marketing and distribution of Zecuity ® , and (iii) other p roduct rights impairments of $ 83 million due to current market conditions and supply chain challenges in various Teva markets. In 2015 and 2014, impairments of identifiable intangible assets w ere $265 million and $224 million, respectively. Property, plant and equipment - $149 million, consisting of: impairments of $69 million, based on management decisions regarding their expected use as a result of our planned plant rationalization, which triggered a reassessment of fair value. impairment of property, plant and equipment of approximately $80 million. Following an FDA inspection earlier this year, Teva voluntarily discontinued all manufacturing activities at its facility in Godollo , Hungary, in order to assess and remediate quality concerns. In May 2016, the FDA issued a U.S. import alert for all products from this facility, which can only be lifted after the FDA confirms regulatory compliance. On October 14, 2016, Teva received a warning letter from the FDA, which cites deficiencies in manufacturing operations, laboratory controls and data integrity. Teva has currently decided to reduce its operations from this facility. In 2015 and 2014, property, plant and equipment impairment was $96 million and $163 million, respectively. Contingent consideration In 2016, Teva recorded $83 million of contingent consideration expenses, comprised of $18 0 million related to Bendeka TM , due to a change in projected royalties related to the future sales outlook as well as a change in probability assessment for c ertain milestone payments. This was offset by the $122 million reversal of contingent consideration related to Zecuity ® following the circumstances detailed in the impairment discussions above. In 2015 , $399 million in contingent consideration was recognized, and income of $20 million was recognized in 2014. Acquisition , integration and related costs In 2016, Teva recorded $261 million of acquisition and integration expenses, comprised mainly of expenses related to its Actavis Generics and Rimsa acquisitions . In 2015 and 2014 , a cquisition and integration expenses were $221 million and $13 million , respectively. Restructuring In 2016, Teva recorded $245 million of restructuring expenses, compared to $183 million and $246 million in 2015 and 2014, respectively. These expenses were primarily incurred in plant rationalization activities, integration and various other initiatives as part of cost saving efforts. b. Share in profits or losses of associated companies–net : Share in profit or losses of associated companies – net, were a gain of $8 million in 2016, and a loss of $121 million and $5 million in 2015 and 2014 respectively. In 2015, following an other-than-temporary loss in value of our investment in Mesoblast , an impairment of $171 million was recorded for the year. In addition, a $24 million currency translation adjustment was reclassified from accumulated other comprehensive loss to share in losses of associated companies - net, due to dilution of our equity holdings in Mesoblast . These amounts mentioned were recorded net of income tax of $71 million.

LEGAL SETTLEMENTS

LEGAL SETTLEMENTS	12 Months Ended
	Dec. 31, 2016
Legal [Abstract]
Legal [TextBlock]	NOTE 19 —LEGAL SETTLEMENTS AND LOSS CONTINGENCIES: Legal settlements and loss contingencies for 2016 were $899 million, compared to a n expense of $631 million and a gain of $1 11 m illion in 2015 and 2014, respectively . The 2016 expense primarily consists of a $519 million provision established in connection with the FCPA settlement with the DOJ and SEC and $225 million in connection with the ciprofloxacin settlement . The expenses in 2015 consisted mainly of additional reserves relating to the settlement of the modafinil antitrust litigation, partially offset by insurance proceeds relating to the settlement of the pantoprazole patent litigation. As of December 31, 2016 and 2015 , accrued amount s for legal settlements and loss contingencies of $1.3 billion an d $256 million, respectively, are recorded in accrued expenses .

SEGMENTS

SEGMENTS	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Segment Reporting Disclosure	NOTE 2 0 – SEGMENTS: Teva has two reportable segments: generic and specialty medicines. The generic medicines segment develops, manufactures, sells and distributes generic or branded generic medicines. This segment includes Teva's over-the-counter ("OTC") business, including PGT, Teva's consumer healthcare joint venture with P&G. Also included in this segment is Teva's active pharmaceutical ingredient ("API") manufacturing businesses. The specialty medicines segment engages in the development, manufacture, sale and distribution of branded specialty medicines, most significantly in the core therapeutic areas of central nervous system medicines and respiratory medicines, as well as other therapeutic areas, such as oncology, women's health and selected other areas. Teva's other activities include distribution activities mainly in the United States, Israel and Hungary, sales of medical devices and contract manufacturing services related to divestment of products in connection with the Actavis Generics acquisition and other miscellaneous items . Following the Actavis Generics and Anda acquisitions, Teva conducted an analysis of its business segments, resulting in a change to Teva's segment reporting and goodwill assignment. Teva's management reassessed its organizational structure and concluded that in order to enhance its managers' accountability and gain better control over all activities, its reporting segments will be reorganized as follows, commencing in the fourth quarter of 2016: The generic medicines segment includes all Teva legacy generics activity , with the addition of: All Actavis Generics activities, excluding contract manufacturing services related to divestment of products in connection with the Actavis Generics acquisition ; and Teva's OTC business . The s pecialty medicines segment includes all Teva specialty activity without any change . Other non-segment activit ies include other Teva business (excluding the OTC business ) , with the addition of: C ontract manufacturing services related to divestment of products in connection with the Actavis Generics acquisition ; and Anda's distribution activity . All the above changes have been reflected through retroactive revision of prior period segment information . Teva's chief executive officer, 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 two identified reportable segments, namely generic and specialty medicines to make decisions about resources to be allocated to the segments and assess their performance. Segment profit is comprised of gross profit for the segment , less R&D and S&M expenses related to the segment. Segment profit does not inc lude G&A expenses, amortizati on, research and development in process, inventory step up and certain other items . B eginning in 2015, expenses related to equity compensation are excluded from our segment results. Beginning in 2016, our OTC business is included in our generic medicines segment. The data presented have been conformed to reflect these changes for all relevant periods. Teva manages its assets on a total company basis, not by segments, as many of it s assets are shared or commingled. Teva's CODM does not regularly review asset information by reportable segment , and therefore Teva do es not report asset information by reportable segment. a. Segment information: Generics Specialty Year ended December 31, Year ended December 31, 2016 2015 2014 2016 2015 2014 (U.S.$ in millions) Revenues $ 11,990 $ 10,540 $ 10,810 $ 8,674 $ 8,338 $ 8,560 Gross profit 5,696 4,903 4,601 7,558 7,200 7,457 R&D expenses 659 519 521 998 918 872 S&M expenses 1,727 1,459 1,734 1,899 1,921 1,990 Segment profit $ 3,310 $ 2,925 $ 2,346 $ 4,661 $ 4,361 $ 4,595 Year ended December 31, 2016 2015 2014 U.S.$ in millions Generic medicines profit $ 3,310 $ 2,925 $ 2,346 Specialty medicines profit 4,661 4,361 4,595 Total segment profit 7,971 7,286 6,941 Profit of other activities 68 75 46 8,039 7,361 6,987 Amounts not allocated to segments: Amortization 993 838 1,036 General and administrative expenses 1,236 1,239 1,217 Impairments, restructuring and others 699 1,131 650 Goodwill impairment 900 - - Inventory step-up 383 - - Purchase of research and development in process 423 21 - Costs related to regulatory actions taken in facilities 153 36 75 Legal settlements and loss contingencies 899 631 (111) Other unallocated amounts (1) 199 113 169 Consolidated operating income 2,154 3,352 3,951 Financial expenses - net 1,330 1,000 313 Consolidated income before income taxes $ 824 $ 2,352 $ 3,638 (1) Included for 2016, $133 million in inventory-related expenses in connection with the devaluation in Venezuela. b. Segment revenues by geographic area: Year ended December 31, 2016 2015 2014 (U.S.$ in millions) Generic Medicines United States $ 4,556 $ 4,795 $ 4,516 Europe* 3,563 3,146 3,638 Rest of the World 3,871 2,599 2,656 Total Generic Medicines 11,990 10,540 10,810 Specialty Medicines United States 6,724 6,442 6,110 Europe* 1,598 1,518 1,898 Rest of the World 352 378 552 Total Specialty Medicines 8,674 8,338 8,560 Other Revenues United States 369 12 8 Europe* 248 226 287 Rest of the World 622 536 607 Total Other Revenues 1,239 774 902 Total Revenues $ 21,903 $ 19,652 $ 20,272 * We define our European region as the European Union and certain other European countries. c. Net revenues from specialty medicines were as follows: Year ended December 31, 2016 2015 2014 (U.S. $ in millions) CNS $ 5,283 $ 5,213 $ 5,575 Copaxone® 4,223 4,023 4,237 Azilect® 410 384 428 Nuvigil® 200 373 388 Respiratory 1,274 1,129 957 ProAir® 565 549 478 Qvar® 462 392 286 Oncology 1,139 1,201 1,180 Treanda® 661 741 767 Women's health 458 461 504 Other Specialty* 520 334 344 Total Specialty Medicines $ 8,674 $ 8,338 $ 8,560 * Includes the $150 million royalty payment from the Ninlaro® transaction in 2016. It is impractical to present revenues by product for our generic medicines segment. A significant portion of Teva's revenues, and a higher proportion of Teva's profits, come from the manufacture and sale of patent-protected medicines. Many of Teva's specialty medicines are covered by several patents that expire at different times. Nevertheless, once patent protection has expired, or has been lost prior to the expiration date as a result of a legal challenge, Teva no longer has patent exclusivity on these products, and subject to regulatory approval, generic pharmaceutical manufacturers are able to produce similar (or purportedly similar) products and sell them for a lower price. The commencement of generic competition, even in the form of non-equivalent products, can result in a substantial decrease in revenues for a particular specialty medicine in a very short time. Any such expiration or loss of intellectual property rights could therefore significantly adversely affect Teva's results of operations and financial condition. In particular, Teva has relied heavily on sales of Copaxone ® , its leading specialty medicine. A key element of Teva's business strategy for Copaxone ® has been maintaining patients on the three-times-a-week 40 mg/ mL version introduced in 2014, and protecting its patents for the 40 mg/ mL version. Any substantial reduction in the number of patients taking Copaxone ® , whether due to new or emerging therapies, increased use of oral medicines or other competing products, including competing 20 mg/ mL generic products (with one generic version introduced in the U.S. in 2015 and follow-on products in some European countries) and potential competing 40 mg/ mL generic products following the court ruling invalidating four Copaxone ® 40 mg/ mL patents in January 2017, would likely have a material adverse effect on Teva's financial results and cash flow. Copaxone ® 40 mg/ mL is protected by five U.S. Orange Book patents that expire in 2030. All of the claims of three of those patents were declared to be unpatentable by the U.S. Patent Office in inter parties review (“IPR”) proceedings, and Teva has appealed those decisions. In addition, a petition for an IPR has been filed against a fourth Orange Book patent; a decision on whether the Patent Office will move forward with this proceeding is expected by May 2017. These four patents have also been challenged in paragraph IV litigation in the United States. A trial was held in the U.S. District Court for the District of Delaware, and in January 2017 the court held that the asserted claims of these four patents were invalid. Teva has appealed this decision; however , it is possible that certain competitors may receive FDA approval and launch before either appeal is decided. The fifth Orange Book patent, which was issued in August 2016, is being challenged in a separate paragraph IV litigation in the United States. Teva has also filed suit against multiple ANDA filers to assert a non-Orange Book process patent in various jurisdictions. Copaxone ® 40 mg/ mL is also protected by one European patent expiring in 2030. In 2016, Copaxone ® revenues in the United States, which include revenues from both Copaxone ® 20 mg/ mL and Copaxone ® 40 mg/ mL , were $3.5 billion in the U.S. (approximately 30% of Teva's total 2016 U.S. revenues) and approximately $744 million in markets outside the U.S. (approximately 7% of Teva's total 2016 non-U.S. revenues). Teva's multiple sclerosis franchise includes Copaxone ® products and laquinimod (a developmental compound for the treatment of multiple sclerosis ). The profitability of the multiple sclerosis franchise is comprised of Copaxone ® revenues and cost of goods sold as well as S&M and R&D expenses related to the MS franchise. It does not include G&A expenses, amortization , research and development in process , inventory step up and certain other items . Teva's MS franchise profitability was 81% , 76.7% and 75.1% in 2016 , 2015 and 2014 , respectively. d. Supplemental data - major customers: The percentages o f total consolidated revenues for the years ended December 31, 2016 , 2015 and 2014 to one customer were 19% , 20% and 17%, respectively. The percentage of total consolidated revenues from another customer accounted for 15% , 20% and 18% for the years ended December 31, 2016, 2015 and 2014, respectively. Most of Teva's revenues from these customers were in the United States. The balances due from Teva 's largest customer accounted for 36% and 30% of the gross trade accounts receivable at December 31, 2016 and 2015 , respectively . Sales reserves and allowances on these balances are recorded in current liabilities. e. Property, plant and equipment—by geographical location were as follows: December 31, 2016 2015 (U.S. $ in millions) Israel $ 2,323 $ 2,159 United States 1,135 629 Croatia 542 539 Japan 427 415 Hungary 422 506 Ireland 343 313 Other 2,881 1,983 Total property, plant and equipment $ 8,073 $ 6,544

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share	NOTE 21—EARNINGS PER SHARE: The net income attributable to Teva and the weighted average number of ordinary shares used in computation of basic and diluted earnings per share for the years ended December 31, 2016, 2015 and 2014 are as follows: 2016 2015 2014 (U.S. $ in millions, except share data) Net income attributable to ordinary shareholders $ 68 $ 1,573 $ 3,055 + Interest expense on convertible senior debentures, and issuance costs , net of tax benefits - - * + Net income used for the computation of diluted earnings per share $ 68 $ 1,573 $ 3,055 Weighted average number of shares used in the computation of basic earnings per share 955 855 853 Add: Additional shares from the assumed exercise of employee stock options and unvested RSUs 3 5 3 Weighted average number of additional shares issued upon the assumed conversion of convertible senior debentures 3 4 2 Weighted average number of shares used in the computation of diluted earnings per share 961 864 858 * Represents an amount less than $0.5 million. In computing dilutive earnings per share for the years ended December 31, 2016, 2015 and 2014, no account was taken of the potential dilution of the assumed exercise of employee stock options, amounting to 4 million, 1 million and 1 million weighte d average shares, respectively, since they had an anti-dilutive effect on earnings per share. Additionally, in computing dilutive earnings per share for the year s ended December 31, 201 6 and 2015 , no account was taken of both the potential dilution of the mandatory convertible preferred shares amounting to 59 million weighted average shares and the accrued dividend to preferred shares amounting to $ 261 million , since they had an anti-dilutive effect on earnings per share .

SCHEDULE II VALUATION AND QUALI

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Dec. 31, 2016
Schedule Of Valuation And Qualifying Accounts [Abstract]
Schedule of Valuation and Qualifying Accounts	TEVA PHARMACEUTICAL INDUSTRIES LIMITED SCHEDULE II—VALUATION AND QUALIFYING ACCOUNTS Three Years Ended December 31, 2016 (U.S. $ in millions) Column A Column B Column C Column D Column E Balance at beginning of period Charged to costs and expenses Charged to other accounts Deductions Balance at end of period Allowance for doubtful accounts: Year ended December 31, 2016 $ 146 $ 5 $ 61 $ (21) $ 191 Year ended December 31, 2015 $ 149 $ 18 $ (6) $ (15) $ 146 Year ended December 31, 2014 $ 187 $ 22 $ (18) $ (42) $ 149 Allowance in respect of carryforward tax losses: Year ended December 31, 2016 $ 760 $ 135 $ 1,137 $ (342) $ 1,690 Year ended December 31, 2015 $ 671 $ 249 $ 1 $ (161) $ 760 Year ended December 31, 2014 $ 791 $ 128 $ 0 $ (248) $ 671

SIGNIFICANT ACCOUNTING POLICI30

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2016
Significant Accounting Policies [Abstract]
General	General: Operations Teva Pharmaceutical Industries Limited (the “Parent Company”), headquartered in Israel, together with its subsidiaries and associated companies (the “Company,” “ Teva ” or the “Group”), is engaged in the development, manufacturing, marketing and distribution of generic, specialty, and other pharmaceutical products. The majority of the Group's revenues are in the United States and Europe . The Group's main manufacturing facilities are located in Israel, Hungary, United States, Germany, Canada, Japan, Ireland, the United Kingdom, the Czech Republic, Croatia, Italy , Bulgaria and India. Accounting principles The consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States (“U . S . GAAP”). Functional currency A major part of the Group's operations is carried out by the Company in the United States, Israel and certain other countries. The functional currency of these entities is the U.S. dollar (“dollar” or “$”). The functional currency of certain subsidiaries and associated companies is their local currency. The financial statements of those companies are included in the consolidated financial statements, translated into U.S. dollars. Assets and liabilities are translated at year-end exchange rates, while revenues and expenses are translated at monthly average exchange rates during the year. Differences resulting from translation are presented as other comprehensive income in the consolidated statements of comprehensive income (loss) . The financial statements for Teva's Venezuelan business, which has a highly inflationary economy , are re - measured as if the functional currency was the U.S. dollar, Teva's reporting currency, using certain exchange rates determined by Teva's management . A highly inflationary economy is one that has cumulative inflation of approximately 100 percent or more over a 3-year period. See note 16a. Principles of consolidation The consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries and Variable Interest Entities ("VIEs") for which the Company is considered the primary beneficiary. For those consolidated subsidiaries where Teva owns less than 100%, the outside shareholders' interests are shown as non-controlling interests in equity. Investments in affiliates over which the Company has significant influence but not a controlling interest, are carried on the equity basis. For VIEs, the Company performs an analysis to determine whether the variable interests give a controlling financial interest in a VIE. The Company periodically reassesses whether it controls its VIEs. Intercompany transactio ns and balances are eliminated o n consolidation; profits from intercompany sales, not yet realized outside the Group, are also eliminated. Use of estimates in the preparation of financial statements The preparation of financial statements in conformity with U . S . GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reported years. Actual results could differ from those estimates. As applicable to these consolidated financial statements, the most significant estimates and assumptions relate to purchase price allocation on acquisitions including determination of useful liv es and contingent consideration; determining the valuation and recoverability of intangible assets and goodwill ; and assessing sales reserves and allowances, uncertain tax positions, valuation allowances, contingencies, inventory valuation and restructuring.
Investee companies	Investee companies: Investments in entities in which the Company has a significant influence are accounted for using the equity method and included within other non-current assets. Under the equity method, the Company generally recognizes its proportionate share of comprehensive income or loss of the entity. Other non-marketable equity investments are carried at cost. The Company also reviews these investments for impairment whenever events indicate the carrying amount may not be recoverable. Impairments on investee companies are recorded in the income statement under share in profits or losses of associated companies – net.
Cash and cash equivalents	Cash and cash equivalents: All highly liquid investments, which include short-term bank deposits and money market instruments, that are not restricted as to withdrawal or use, and investment in short-term debentures, the period to maturity of which did not exceed three months at the time of investment, are considered to be cash equivalents.
Inventories Policy	Inventories: Inventories are valued at the lower of cost or net realizable value. Cost of raw and packaging materials, purchased products, manufactured finished products, products in process and capitalized production costs are determined predominantly on a standard cost basis, approximating average costs. Other methods which are utilized for determining the value of inventories are moving average, cost basis and the first in first out method. Teva regularly reviews its inventories for impairment and reserves are established when necessary. Inventories acquired in a business combination are stepped-up to their estimated fair value and amortized to cost of sales as that inventory is sold.
Marketable securities	Investment in securities: Investment in securities consists mainly of debt and equity securities classified as available-for-sale and recorded at fair value. The fair value of quoted securities is based on current market value. When debt securities do not have an active market, fair value is determined using a valuation model. This model is based on reference to other instruments with similar characteristics, or a discounted cash flow analysis, or other pricing models making use of market inputs and relying as little as possible on entity-specific inputs. Unrealized gains of available for sale securities, net of taxes, are reflected in other comprehensive income. Unrealized losses considered to be temporary are reflected in other comprehensive income; unrealized losses that are considered to be other-than-temporary are charged to income as an impairment charge. Realized gains and losses for both debt and equity securities are included in financial expense, net. The Company considers available evidence in evaluating potential impairments of its investments, including the duration and extent to which fair value is less than cost, and for equity securities, the Company's ability and intent to hold the investment for the length of time necessary to allow for the recovery of the market value. For debt securities, an other -than-temporary impairment has occurred if the Company does not expect to recover the entire amortized cost basis of the debt security. If the Company does not intend to sell the impaired debt security, and it is not more likely than not it will be required to sell the debt security before the recovery of its amortized cost basis, the amount of the other-than-temporary impairment recognized in earnings, recorded in financial expense, net, is limited to the portion attributed to credit loss. The remaining portion of the other-than-temporary impairment related to other factors is recognized in other comprehensive income.
Impairment in value of long-lived assets	Long-lived assets: Teva's long-lived, non-current assets are comprised mainly of goodwill, identifiable intangible assets and property, plant and equipment. All long-lived assets are monitored for impairment indicators throughout the year. Impairment testing for goodwill and all identifiable intangible assets is performed at least annually. When necessary, charges for impairments of long-lived assets are recorded for the amount by which the fair value is less than the carrying value of these assets.
Goodwill and indefinite life intangible assets	Goodwill Goodwill reflects the excess of the consideration transferred, including the fair value of any contingent consideration and any non-contr olling interest in the acquire e , over the assigned fair values of the identifiable net assets acquired. Goodwill is not amortized, and is assigned to reporting units and tested for impairment at least on an annual basis , in the fourth quarter of the fiscal year . The goodwill impairment test is performed according to the following principles: An initial qualitative assessment may be performed to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying amount. If the Company concludes it is more likely than not that the fair value of the reporting unit is less than its carrying mount, a quantitative fair value test is performed. T he first step of the quantitative fair value test compares the fair value of the reporting units to the carrying value of net assets allocated to the reporting units. If the fair value of the reporting unit exceeds the carrying value of the net assets allocated to that unit, goodwill is not impaired . If the carrying value of the reporting unit exceeds the fair value, the second step of the quantitative fair value test is performed. In the second step, the reporting unit's implied fair value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination or an acquisition would be determined. That is, the fair value of a reporting unit is assigned to all of the assets and liabilities of that unit, including any unrecognized intangible assets, as if the reporting unit had been acquired in a business combination. If the implied fair value of the reporting unit's goodwill is less than its carrying value, the difference is recorded as an impairment.
Definite life intangible assets	Identifiable intangible assets Identifiable intangible assets are comprised of definite life intangible assets and indefinite life intangible assets. Definite life intangible assets consist mainly of acquired product rights and other rights relating to products for which marketing approval was received from the U.S. Food and Drug Administration (“FDA”) or the equivalent agencies in other countries. These assets are amortized using mainly the straight-line method over their estimated period of useful life, or based on economic benefit models, if more appropriate, which is determined by identifying the period and manner in which substantially all of the cash flows are expected to be generated. Amortization of acquired developed products is recorded under cost of sales. Amortization of marketing and distribution rights is recorded under selling and marketing expenses. W henever impairment indicators are identified for definite life intangible assets , Teva reconsiders the asset's estimated life, calculates the undiscounted value of the asset's or asset group's cash flows and compares such value against the asset's or asset group's carrying amount. If the carrying amount is greater, Teva records an impairment loss for the excess of book value over fair value based on the discounted cash flows. Indefinite life intangible assets are mainly comprised of research and development in-process assets. Teva monitors these assets for items such as research and development milestones and progress to identify any triggering events. Annually or when triggering events are present, Teva determines the fair value of the asset based on discounted cash flows and records an impairment loss if book value exceeds fair value. I PR&D acquired in a business combination is capitalized as an indefinite life intangible asset until the related research and development efforts are either completed or abandoned. In the reporting period where they are treated as indefinite life intangible assets, they are not amortized but rather are monitored triggering events and tested for impairment. Upon completion of the related research and development efforts, management determines the useful life of the intangible assets and amortizes them accordingly. In case of abandonment, the related research and development assets are impaired.
Property, plant and equipment	Property, plant and equipment Property, plant and equipment are stated at cost, after deduction of the related investment grants, and depreciated using the straight-line method over the estimated useful life of the assets: buildings, mainly 40 years; machinery and equipment, mainly between 15 to 20 years; and other assets, between 5 to 10 years. For property, plant and equipment, whenever impairment indicators are identified, Teva reconsiders the asset's estimated life, calculates the undiscounted value of the asset's cash flows and compares such value against the asset's carrying amount. If the carrying amount is greater, Teva records an impairment loss for the excess of book value over fair value.
Contingencies	Contingencies: The Company is involved in various patent, product liability, commercial, government investigations, environmental claims and other legal proceedings that arise from time to time in the ordinary course of business. Except for income tax contingencies or contingent consideration or other contingent liabilities incurred or acquired in a business combination, Teva records accruals for these types of contingencies to the extent that Teva concludes their occurrence is probable and that the related liabilities are estimable. When accruing these costs, the Company will recognize an accrual in the amount within a range of loss that is the best estimate within the range. When no amount within the range is a better estimate than any other amount, the Company accrues for the minimum amount within the range. Teva records anticipated recoveries under existing insurance contracts that are virtually certain of occurring at the gross amount that is expected to be collected. Legal costs are expensed as incurred.
Tax contingencies	Deferred income taxes: Deferred income taxes are determined utilizing the “asset and liability” method based on the estimated future tax effects of temporary differences between the financial accounting and tax basis of assets and liabilities under the applicable tax laws, and on tax rates anticipated to be in effect when the deferred income taxes are expected to be paid or realized. A valuation allowance is provided if, based upon the weight of available evidence, it is more likely than not that a portion of the deferred income tax assets will not be realized. In determining whether a valuation allowance is needed, Teva considers all available evidence, including historical information, long range forecast of future taxable income and evaluation of tax planning strategies. Amounts recorded for valuation allowance can result from a complex series of judgments about future events and can rely on estimates and assumptions. Deferred income tax liabilities and assets are classified as non-current in accordance with the accounting standard update issued in November 2015 and adopted by Teva in the third quarter of 2016 (refer further to note 1(b )). Deferred tax has not been provided on the following items: Taxes that would apply in the event of disposal of investments in subsidiaries, as it is generally the Company's intention to hold these investments, not to realize them. The determination of the amount of related unrecognized deferred tax liability is not practicable. Amounts of tax-exempt income generated from the Company's current Approved Enterprises and unremitted earnings from foreign subsidiaries retained for reinvestment in the Group. See note 15f.
Treasury shares	Treasury shares: Treasury shares are held by Teva's subsidiaries and presented as a reduction of Teva shareholders' equity and carried at their cost to Teva , under treasury shares.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Stock-based compensation: Teva recognizes the estimated fair value of share-based awards, restricted share units (“RSUs”) and performance share units ("PSUs") under stock-based compensation costs. The compensation expense for PSUs is recognized only if it is probable that the performance condition will be achieved. Teva measures compensation expense for share-based awards based on estimated fair values on the date of grant using the Black- Scholes option-pricing model. This option pricing model requires estimates as to the option's expected term and the price volatility of the underlying stock. Teva measures compensation expense for the RSUs and PSUs based on the market value of the underlying stock at the date of grant, less an estimate of dividends that will not accrue to the RSU and PSU holders prior to vesting.
Revenue recognition	Revenue recognition: The Company recognizes revenues from product sales, including sales to distributors when persuasive evidence of an arrangement exists, delivery has occurred, the selling price is fixed or determinable and collectability is reasonably assured. This generally occurs when products are shipped and title and risk and rewards for the products are transferred to the customer. Revenues from product sales are recorded net of provisions for estimated chargebacks , rebates, returns, prompt pay discounts and other deductions, such as shelf stock adjustments, which can be reasonably estimated. When sales provisions are not considered reasonably estimable by Teva , the revenue is deferred to a future period when more information is available to evaluate the impact. Provisions for chargebacks , rebates including Medicaid and other governmental program discounts and other promotional items, such as shelf stock adjustments, are included in sales reserves and allowances (“SR&A”) . These provisions are recognized concurrently with the sales of products. Prompt payment discounts are netted against trade receivable s. Calculations for these deductions from sales are based on historical experience and the specific terms in the individual agreements. Chargebacks and rebates are the largest components of sales reserves and allowances. Provisions for chargebacks are determined using historical chargeback experience and expected chargeback levels and wholesaler sales information for new products, which are compared to externally obtained distribution channel reports for reasonableness. Rebates are recognized based on contractual obligations in place at the time of sales with consideration given to relevant factors that may affect the payment as well as historical experience for estimated market activity. Shelf-stock adjustments are granted to customers based on the existing inventory of a customer following decreases in the invoice or contract price of the related product and are estimated based on expected market performance. Teva records a reserve for estimated sales returns by applying historical experience of customer returns to the amounts invoiced and the amount of returned products to be destroyed versus products that can be placed back in inventory for resale. Revenue resulting from the achievement of milestone events stipulated in agreements is recognized when the milestone is achieved. Milestones are based upon the occurrence of a substantive element specified in the contract or as a measure of substantive progress towards completion under the contract. Revenues from licensees, sales of licensed products and technology are recorded in accordance with the contract terms, when third-party sales can be reliably measured and collection of the funds is reasonably assured. Royalty revenue is recognized as a component of net revenues in accordance with the terms of their respective contractual agreements when collectability is reasonably assured and when revenue can be reasonably measured. Revenues include d royalty income and income from services of $343 million , $140 million and $167 million in the years ended December 31, 2016, 2015 and 2014, respectively. The amount recognized in 2016 includes royalty income resulting from the Ninlaro ® transaction. S ee note 2.
Research and development expenses	Research and development: Research and development expenses are charged to income as incurred. Participations and grants in respect of research and development expenses are recognized as a reduction of research and development expenses as the related costs are incurred, or as the related milestone is met. Upfront fees received in connection with cooperation agreements are deferred and recognized over the period of the applicable agreements as a reduction of research and development expenses. Advance payments for goods or services that will be used or rendered for future research and devel opment activities are deferred . Such amounts are recognized as an expense as the related goods are delivered or the services are performed. Research and development in-process acquired as part of an asset purchase, which has not reached technological feasibility and has no alternative future use, is expensed as incurred.
Shipping and handling costs	Shipping and handling costs: Shipping and handling costs, which are included in selling and marketing expenses, were $134 million , $127 million and $151 million for the years ended December 31, 2016, 2015 and 2014, respectively.
Advertising expenses	Advertising expenses: Advertising expenses are charged to income as incurred. Advertising expenses for the years ended December 31, 2016, 2015 and 2014 were $312 million , $297 million and $302 million , respectively.
Income taxes	Uncertain tax positions: Teva recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. The tax benefit recognized in the financial statements for a particular tax position is based on the largest benefit that is more likely than not to be realized. Teva regularly re-evaluates its tax positions based on developments in its tax audits, statute of limitations expirations, changes in tax laws and new information that can affect the technical merits and change the assessment of Teva's ability to sustain the tax benefit. In addition, the Company classifies interest and penalties recognized in the financial statements relating to uncertain tax position under the income taxes line item. Provisions for uncertain tax positions, whereas Teva has net operating losses to offset additional income taxes that would result from the settlement of the tax position, are presented as a reduction of the deferred tax assets for such net operating loss.
Earnings per share	Earnings per share: Basic earnings per share are computed by dividing the net income attributable to ordinary shareholders by the weighted average number of ordinary shares (including fully vested RSUs) outstanding during the year, net of treasury shares. In computing diluted earnings per share, basic earnings per share are adjusted to take into account the potential dilution that could occur upon: ( i ) the exercise of options and non-vested RSUs and PSUs granted under employee stock compensation plans and one series of convertible senior debentures, using the treasury stock method; (ii) the conversion of the remaining convertible senior debentures using the “if-converted” method, by adding to net income interest expense on the debentures and amortization of issuance costs, net of tax benefits, and by adding the weighted average number of shares issuable upon assumed conversion of the debentures; and (iii) the conversion of the mandatory convertible preferred shares using the “if-converted” method by adding to net income attributable to ordinary shareholders the dividends on the preferred shares and by adding the weighted average number of shares issuable upon assumed conversion of the mandatory convertible preferred shares.
Concentration of credit risks	Concentration of credit risks: Most of Teva's cash and cash equivalents (which , along with investment in securities , totaled $1.9 billion at December 31, 2016) were deposited with financially sound European, U.S. and Israeli banks and financial institutions and were comprised mainly of cash deposits. The pharmaceutical industry, particularly in the U.S., has been significantly affected by consolidation among managed care providers, large pharmacy chains, wholesaling organizations and other buyer gro ups. The U.S. market constituted approximately 53% of Teva's consolidated revenues in 2016 and a relatively small portion of total trade accounts after netting amounts in sales, reserves and allowances. The exposure of credit risks relating to other trade receivables is limited, due to the relatively large number of group customers and their wide geographic distribution. Teva performs ongoing credit evaluations of its customers for the purpose of determining the appropriate allowance for doubtful accounts and generally does not require collateral. An appropriate allowance for doubtful accounts is included in the accounts and netted against trade receivables .
Derivative	Derivatives and hedging: The Group carries out transactions involving derivative financial instruments (mainly forward exchange contracts, written and purchased currency options, cross-currency swap contracts, interest rate swap contracts and treasury locks). The transactions are designed to hedge the Company's currency and interest rate exposures. The Company does not enter into derivative transactions for trading purposes. Derivative instruments are recognized on the balance sheet at their fair value. For derivative instruments that are designated and qualify as a fair value hedge, the gain or loss on the derivative instrument as well as the offsetting gain or loss on the hedged item attributable to the hedged risk is recogni zed in financial expenses—net in the statements of income in the period that the changes in fair value occur . For derivative instruments that are designated and qualify as a cash-flow hedge, the effective portion of the gain or loss on the derivative instrument is reported as a component of other comprehensive income and reclassified into earnings in the same line item associated with the anticipated transaction in the same period or periods during which the hedged transaction affects earnings. The remaining gain or loss on the derivative instrument (i.e., the ineffective portion), if any, is recognized in the statement of income during the current period. For derivative instruments that qualify for hedge accounting, the cash flows associated with these derivatives are reported in the consolidated statements of cash flows consistently with the classification of the cash flows from the underlying hedged items that these derivatives are hedging. Derivative instruments that do not qualify for hedge accounting are recognized on the balance sheet at their fair value, with changes in the fair value recognized as a compo nent of financial expenses—net in the statements of income. The cash flows associated with these derivatives are reflected as cash flows from operating activities in the consolidated statements of cash flows.
Fair value measurement	Fair value measurement: The Company measures fair value and discloses fair value measurements for financial assets and liabilities. Fair value is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The accounting standard establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three broad levels, which are described below: Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs. Level 2: Observable inputs that are based on inputs not quoted on active markets, but corroborated by market data. Level 3: Unobservable inputs are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible and considers counterparty credit risk in its assessment of fair value.
Collaborative arrangements	Collaborative arrangements: Collaborative agreements are contractual arrangements in which the parties are active participants to the arrangement and are exposed to the significant risks and rewards that are dependent on the ultimate commercial success of the endeavor. The Company recognizes revenue generated and costs incurred on sales to third parties as it relate to a collaborative agreement as gross or net. If the Company is the principal participant in a transaction, revenues and costs are recorded on a gross basis; otherwise, revenues are recorded on a net basis.
Segment reporting	Segment reporting: The Company's business includes two reporting segments: generic and specialty medicines. The generics segment develops, manufactures, sells and distributes generic or branded generic medicines as well as active pharmaceutical ingredients ("API") a nd over-the-counter medicines. The specialty segment engages in the development, manufacture, sale and distribution of branded specialty medicines such as those for central nervous system and respiratory indications, as well as those marketed in the women's health, oncology and other specialty businesses. Beginning in the fourth quarter of 2016, and following the acquisition of Actavis Generics, Teva revised its segment structure so that its generic medicines segment now includes Teva's over-the-counter ("OTC") business, conducted primarily through PGT Healthcare, as well as the API manufacturing business. Refer further to note 20.
Reclassifications	Reclassifications: Certain comparative figures have been reclassified to conform to the current year presentation.
Recently issued accounting pronouncements	New accounting pronouncements Recently adopted accounting pronouncements In March 2016, the Financial Accounting Standards Board (“FASB”) issued guidance on stock compensation. The guidance is intended to simplify several aspects of the accounting for share-based payments, including income tax consequences, classification of awards as either equity or liabilities, accounting for forfeitures and classification in the st atement of cash flows. Teva adopted the provisions of this update during the second quarter of 2016. The guidance did not have a material impact on Teva's consolidated financial statements. In November 2015, the FASB issued guidance on balance sheet classification of deferred taxes. The guidance requires entities to present all deferred tax assets and liabilities, along with any related valuation allowance, as non-current on the balance sheet. Teva adopted the provisions of this update prospectively during the third quarter of 2016. The impact of the change in presentation is that net current deferred tax as sets totaling approximately $9 78 million as of December 31, 2016 have been reclassified to non-current assets or long- term liabilities, as appropriate. In September 2015, the FASB issued guidance on current accounting for measurem ent period adjustments. The guidance requires entities to recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. Measurement period adjustments were previously required to be retrospectively adjusted as of the acquisition date. This pronouncement is effective commencing January 1, 2016. The impact of the new guidance resulted in the measurement period adjustments described in note 2 to be recognized in the fourth quarter of 2016, rather than adjusted retrospectively. Recently i ssued accounting pronouncements , not yet adopted In January 2017, the FASB issued guidance on goodwill impairment testing. The new guidance reduces the complexity of goodwill impairment tests by no longer requiring entities to determine goodwill impairment by calculating the implied fair value of goodwill by assigning the fair value of a reporting unit to all of its assets and liabilities as if that reporting unit had been acquired in a business combination. The guidance will be effective for the fiscal year beginning on January 1, 2020, including interim periods within that year (early adoption is permitted). Teva is currently evaluating the potential effect of the guidance on its consolidated financial statements. In January 2017, the FASB issued guidance on the differentiation between acquisitions of assets and businesses. The new guidance dictates that , when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of si milar identifiable assets, it should be treated as a n acquisition or disposal of an asset. The guidance will be effective for the fiscal year beginning on January 1, 2018, including interim periods within that year (early adoption is permitted). Teva is currently evaluating the potential effect of the guidance on its consolidated financial statements. In November 2016, the FASB issued guidance on the treatment of restricted cash in the statements of cash flows. Amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The guidance will be effective for the fiscal year beginning on January 1, 2018, including interim periods within that year (early adoption is permitted). Teva does not anticipate a material impact on its consolidated financial statements. In October 2016, the FASB issued guidance on accounting for consolidation of interests held through related parties that are under common control. The amended guidance designates the primary beneficiary of a VIE as the reporting entity that has a controlling financial interest in a VIE and, therefore, consolidates the VIE. A reporting entity has an indirect interest in a VIE if it has a direct interest in a related party that, in turn, has a direct interest in the VIE. The guidance is effective for the fiscal year beginning on January 1, 2017, including interim periods within that year. Teva does not anticipate a material impact on its consolidated financial statements. In October 2016, the FASB issued guidance on income taxes on intra-entity transfers. The guidance eliminates the exception to the recognition requirements under the standard for intra-entity transfers of an asset other than inventory. As a result, an entity should recognize the income tax consequences when the transfer of assets other than inventory occurs. The guidance will be effective for the fiscal year beginning on January 1, 2018, including interim periods within that year (early adoption is permitted). Teva is currently evaluating the potential effect of the guidance on its consolidated financial statements. In August 2016, the FASB issued guidance on statements of cash flows. The guidance addresses eight specific issues: debt prepayment or debt extinguishment costs; settlement of certain debt instruments; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned life insurance policies; distributions received from equity method investees; beneficial interest in securitization transactions; separately identifiable cash flows and application of predominance principle. The guidance will be effective for the fiscal year beginning on January 1, 2018, including interim periods within that year (early adoption is permitted). Teva is currently evaluating the potential effect of the guidance on its consolidated financial statements. In June 2016, the FASB issued guidance on financial instruments. The guidance replaces the current incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The guidance will be effective for the fiscal year beginning on January 1, 2020, including interim periods within that year. Teva is currently evaluating the potential effect of the guidance on its consolidated financial statements. In February 2016, the FASB issued guidance on leases. The guidance requires entities to record lease assets and lease liabilities on the balance sheet and disclose key information about leasing arrangements. The guidance will become effective for interim and annual periods beginning on January 1, 2019 (early adoption is permitted) and is required to be adopted at the earliest period presented using a modified retrospective approach. Teva is currently evaluating the potential effect of the guidance on its consolidated financial statements. In January 2016, the FASB issued guidance which updates certain aspects of recognition, measurement, presentation and disclosure of equity investments. The guidance requires entities to recognize changes in fair value in net income rather than in accumulated other comprehensive income. The guidance will be effective for interim and annual periods beginning on January 1, 2018 (early adoption is permitted). Teva is currently evaluating the potential effect of the guidance on its consolidated financial statements. In May 2014, the FASB issued guidance on revenue from contracts with customers that will supersede most current revenue recognition guidance, including industry-specific guidance. Under the new standard, a good or service is transferred to the customer when (or as) the customer obtains control of the good or service, which differs from the risk and rewards approach under current guidance. The guidance provides a five-step analysis of transactions to determine when and how revenue is recognized. Other major provisions include capitalization of certain contract costs, consideration of the time value of money in the transaction price, and allowing estimates of variable consideration to be recognized before contingencies are resolved in certain circumstances. The guidance also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from an entity's contracts with customers. In March, April and May 2016, the FASB issued three additional updates regarding identifying performance obligations and licensing, certain principal versus agent considerations, and various narrow scope improvements based on practical questions raised by users. The guidance may be adopted through either retrospective application to all periods presented in the financial statemen ts (full retrospective approach) or t hrough a cumulative effect adjustment to retained earnings at the effective date (m odified retrospective approach) . The guidance will be effective for the fiscal periods beginning on January 1, 2018 (early adoption is permitted). While Teva has not yet completed its final review of the impact of the new standard, Teva does not currently anticipate a material impact on its revenue recognition practices. Teva continue s to review variable consideration and potential disclosures to complete its evaluation of the impact on its consolidated financial statements. In addition Teva continue s to monitor additional changes, modifications, clarifications or interpretations that may impact its current conclusions. Teva expects to adopt the new standard using the modified retrospective approach.
Acquisition	Acquisitions: Teva's consolidated financial statements include the operations of an acquired business from the date of the acquisition's c onsummation. A cquired businesses are accounted for using the acquisition method of accounting, which requires, among other things, that most assets acquired and liabilities assumed be recognized at their estimated fair values as of the acquisition date and that the fair value of acquired in process research and development ("IPR&D") be recorded on the balance sheet. Transaction costs are expensed as incurred. Any excess of the consideration transferred over the assigned values of the net assets acquired i s recorded as goodwill. When Teva acquire s net assets that do not const itute a business, as defined under U.S. GAAP, no goodwill is recognized and acquired IPR&D is expensed. Contingent considerati on incurred in a business combination is included as part of the acquisition price and recorded at a probability weighted assessment of their fair value as of the acquisition date. The fair value of the contingent consideration is re - measured at each reporting period , with any adjustments in fair value recognized in earnings under impairments, restructuring and others.
Trade Receivbles	Trade receivables: Trade receivables are stated at their net realizable value. The allowance against gross trade receivable reflects the best estimate of probable losses inherent in the receivables portfolio determined on the basis of historical experience, specific allowances for known troubled accounts and other currently available information. As of December 31, 2016 and December 31, 2015 , an allowance for doubtful debts of $191 million and $146 million, respectively, is reflected in net trade receivables. Trade receivables are written off after all reasonable means to collect the full amount have been exhausted.
Restructuring.	Restructuring: Restructuring charges are initially recorded at fair value, and recognized in connection with restructuring programs designed to reduce the cost structure, increase efficiency and enhance competitiveness. Judgment is used when estimating the impact of restructuring plans, including future termination benefits and other exit costs to be incurred when the actions take place. Costs for one-time termination benefits in which the employee is required to render service until termination in order to receive the benefits are recognized ratably over the future service period.

CERTAIN TRANSACTIONS (Tables)

CERTAIN TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2016
Certain Transactions Tables [Abstract]
Estimated fair values of assets acquired and liabilities assumed	U.S.$ in millions Cash and cash equivalents $ 201 Other current assets 6 Deferred taxes and other assets 126 Identifiable intangible assets: Research and development in-process 3,143 Goodwill 1,146 Total assets acquired 4,622 Current liabilities 29 Deferred taxes 1,131 Total liabilities assumed 1,160 Net assets acquired $ 3,462
Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block]	Fair value of consideration transferred: U.S.$ in millions Cash $ 33,920 Ordinary shares (1) 5,065 Contingent consideration (2) 302 Equity based compensation 25 Total fair value of consideration transferred $ 39,312 Recognized amounts of identifiable assets acquired and liabilities assumed: U.S.$ in millions Preliminary values at September 30, 2016 Measurement period adjustments, and impact of Anda acquisition Preliminary values at December 31, 2016 Cash and cash equivalents $ 82 2 84 Trade receivables (1) 2,995 216 3,211 Inventories 1,463 207 1,670 Other current assets (2) 2,218 (168) 2,050 Property, plant and equipment 1,605 (235) 1,370 Other non-current assets 19 5 24 Identifiable intangible assets: (3) Product rights 16,486 (7,846) 8,640 Trade names / customer relationships - 417 417 In-process research and development (4) 3,999 1,007 5,006 Goodwill 19,630 4,562 24,192 Total assets acquired 48,497 (1,833) 46,664 Sales reserves and allowances 1,912 76 - 1,988 Trade payables 241 200 - 441 Employee related obligations 118 16 134 Accrued expenses (5) 839 81 - 920 Other current liabilities 654 (278) - 376 Deferred income taxes and other non-current liabilities 6,215 (2,722) - 3,493 Total liabilities assumed 9,979 (2,627) 7,352 Net assets acquired $ 38,518 794 (6) 39,312 Pro forma twelve months ended December 31, (Unaudited) 2016 2015 Net revenue $ 25,601 $ 26,812 Net (loss) income attributable to Teva (791) 1,427 Basic earnings per share attributable to Teva shareholders (1.04) 0.90 Diluted earnings per share attributable to Teva shareholders (1.04) 0.89 Carrying amounts of major classes of assets included as held for sale: U.S.$ in millions Trade receivables $ 59 Inventories 63 Other current assets 1 Deferred income taxes 7 Property, plant and equipment, net 36 Identifiable intangible assets, net 633 Total assets of the disposal group classified as held for sale in the consolidated balance sheets $ 799 Trade payables and accrued expenses $ 83 Other current liabilities 10 Other taxes and long-term liabilities 23 Total liabilities of the disposal group classified as held for sale in the consolidated balance sheets $ 116 Recognized amounts of identifiable assets acquired and liabilities assumed: U.S.$ in millions Preliminary values at September 30, 2016 Measurement period adjustments Preliminary values at December 31, 2016 Inventories $ 139 $ (5) $ 134 Identifiable intangible assets: Product and marketing rights (1) 1,664 (173) 1,491 Goodwill 566 132 698 Total assets acquired 2,369 (46) 2,323 Deferred income taxes 544 (46) 498 Total liabilities assumed 544 (46) 498 Net assets acquired $ 1,825 $ - $ 1,825 Recognized amounts of identifiable assets acquired and liabilities assumed: U.S.$ in millions Preliminary values at September 30, 2016 Measurement period adjustments Preliminary values at December 31, 2016 Current assets (1) $ 88 $ 9 $ 97 Deferred taxes and other non-current assets (2) 702 (556) 146 Identifiable intangible assets: Product rights 781 (781) - In-process research and development (3) 177 123 300 Trade names / customer relationships 49 (49) - Goodwill 1,018 949 1,967 Total assets acquired 2,815 (305) 2,510 Current liabilities 124 (3) 121 Deferred taxes and other non-current liabilities 370 (302) 68 Total liabilities assumed 494 (305) 189 Net assets acquired $ 2,321 $ - $ 2,321

FAIR VALUE MEASUREMENT (Tables)

FAIR VALUE MEASUREMENT (Tables)	12 Months Ended
	Dec. 31, 2016
Fair Value Measurement Tables [Abstract]
Financial items carried at fair value	December 31, 2016 Level 1 Level 2 Level 3 Total U.S. $ in millions Cash and cash equivalents: Money markets $ 24 $ - $ - $ 24 Cash deposits and other 964 - - 964 Investment in securities: Equity securities 842 - - 842 Structured investment vehicles - 89 - 89 Other, mainly debt securities 14 - 17 31 Derivatives: Asset derivatives - options and forward contracts - 10 - 10 Asset derivatives - cross-currency swaps - 88 - 88 Liabilities derivatives - options and forward contracts - (17) - (17) Liabilities derivatives - interest rate swaps - (2) - (2) Contingent consideration* - - (828) (828) Total $ 1,844 $ 168 $ (811) $ 1,201 December 31, 2015 Level 1 Level 2 Level 3 Total U.S. $ in millions Cash and cash equivalents: Money markets $ 162 $ - $ - $ 162 Cash deposits and other 6,784 - - 6,784 Investment in securities: Equity securities 1,352 - - 1,352 Structured investment vehicles - 94 - 94 Other 11 - 1 12 Derivatives: Asset derivatives - options and forward contracts - 25 - 25 Asset derivatives - interest rate, cross-currency and forward starting interest rate swaps - 105 - 105 Liability derivatives - options and forward contracts - (11) - (11) Liability derivatives - treasury locks, interest rate and forward starting interest rate swaps - (26) - (26) Contingent consideration* - - (812) (812) Total $ 8,309 $ 187 $ (811) $ 7,685 The following table summarizes the activity for those financial assets and liabilities where fair value measurements are estimated utilizing Level 3 inputs. December 31, December 31, 2016 2015 U.S. $ in millions Fair value at the beginning of the period $ (811) $ (616) Investment in debt securities 16 Auction rate securities realized (13) Additional contingent consideration resulting from: Actavis Generics acquisition (302) Eagle license (128) Gecko acquisition (5) Adjustments to provisions for contingent consideration: Actavis Generics acquisition 18 Labrys acquisition (6) (311) Eagle license (179) (63) MicroDose acquisition (8) (10) Cephalon acquisition (12) (5) NuPathe acquisition 122 (10) Settlement of contingent consideration: Labrys acquisition 25 350 Eagle transaction 115 Cephalon acquisition 205 Gecko transaction 6 Fair value at the end of the period $ (811) $ (811) Financial instruments measured on a basis other than fair value are mostly comprised of senior notes and convertible senior debentures, and are presented in the below table in terms of fair value: Estimated fair value* December 31, 2016 2015 (U.S. $ in millions) Senior notes included under long-term liabilities $ (26,456) $ (7,305) Senior notes and convertible senior debentures included under short-term liabilities (569) (1,778) Fair value at the end of the period $ (27,025) $ (9,083) * The fair value was estimated based on quoted market prices, where available.

INVESTMENT IN SECURITIES (Table

INVESTMENT IN SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2016
Marketable Securities Tables [Abstract]
AvailableForSaleSecuritiesTextBlock	Fair value Amortized cost Gross unrealized holding gains Gross unrealized holding losses (U.S. $ in millions) December 31, 2016 $ 986 $ 985 $ 44 $ 43 December 31, 2015 $ 1,620 $ 1,303 $ 338 $ 21 December 31, 2016 2015 (U.S. $ in millions) Other current assets $ 679 $ 11 Other non-current assets 283 1,447 Cash and cash equivalents, mainly money market funds 24 162 $ 986 $ 1,620
Marketable securities	b. Contractual maturities: The contractual maturities of debt securities are as follows: December 31, 2016 (U.S. $ in millions) 2017 $ 38 2022 and thereafter 106 $ 144

INVENTORIES (Tables)

INVENTORIES (Tables)	12 Months Ended
	Dec. 31, 2016
Inventories Tables [Abstract]
Inventory current	NOTE 5—INVENTORIES: Inventories, net of reserves, consisted of the following: December 31, 2016 2015 (U.S. $ in millions) Finished products $ 2,832 $ 2,050 Raw and packaging materials 1,385 1,195 Products in process 538 535 Materials in transit and payments on account 199 186 $ 4,954 $ 3,966

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2016
Property Plant And Equipment Tables [Abstract]
Property Plant And Equipment TextBlock	NOTE 6—PROPERTY, PLANT AND EQUIPMENT: Property, plant and equipment, net, consisted of the following: December 31, 2016 2015 (U.S. $ in millions) Machinery and equipment $ 5,748 $ 5,071 Buildings 3,331 2,591 Computer equipment and other assets 1,774 1,492 Payments on account 634 525 Land* 439 394 11,926 10,073 Less—accumulated depreciation 3,853 3,529 $ 8,073 $ 6,544 * Land includes long-term leasehold rights in various locations, with useful lives of between 30 and 99 years. The increase was primarily due to the acquisition of Actavis Generics property, plant and equipment, which was initially recorded at fair value. For additional information, see note 2. Depreciation expenses were $501 million, $449 million and $464 million in the years ended December 31, 2016, 2015 and 2014, respectively. During the years ended December 31, 2016, 2015 and 2014, Teva had impairments of property, plant and equipment in the amount of $149 million, $96 million and $163 million, respectively. See note 18.

GOODWILL (Tables)

GOODWILL (Tables)	12 Months Ended
	Dec. 31, 2016
Goodwill [Abstract]
Schedule Of Goodwill [Text Block]	NOTE 7—GOODWILL: The changes in the carrying amount of goodwill for the years ended December 31, 2016 and 2015 were as follows: Generics Specialty Other Total (U.S. $ in millions) Balance as of January 1, 2015 $ 8,730 $ 8,502 $ 1,176 $ 18,408 Changes during year: Goodwill acquired (1) - 1,212 - 1,212 Translation differences and other (265) (294) (36) (595) Balance as of December 31, 2015 $ 8,465 $ 9,420 $ 1,140 $ 19,025 Changes during year: Goodwill acquired and adjustments (2) 25,767 (29) 1,091 26,829 Goodwill disposed (3) (99) (99) Goodwill impairment (4) (900) (900) Translation differences and other (370) (68) (8) (446) Balance as of December 31, 2016 $ 32,863 $ 9,323 $ 2,223 $ 44,409 (1) Mainly due to the Auspex acquisition in May 2015. (2) Goodwill recognized as part of the Actavis Generics, Anda, Takeda and Rimsa acquisitions. Goodwill acquired in the specialty segment represents measurement period adjustments on goodwill acquired in 2015 (mainly Auspex). (3) Goodwill on divestiture of Teva products in connection with the Actavis Generics acquisition. Refer further to note 2. (4) Represents Rimsa goodwill impairment charge. Refer to note 2.

IDENTIFIABLE INTANGIBLE ASSET (

IDENTIFIABLE INTANGIBLE ASSET (Tables)	12 Months Ended
	Dec. 31, 2016
Identifiable Intangible Asset [Abstract]
Identifiable Intangible Asset [Table Text Block]	NOTE 8 - IDENTIFIABLE INTANGIBLE ASSETS: Identifiable intangible assets consisted of the following: Original amount net of impairment Accumulated amortization Amortized balance December 31, 2016 2015 2016 2015 2016 2015 (U.S. $ in millions) Product rights $ 18,180 $ 9,047 $ 6,460 $ 5,876 $ 11,720 $ 3,171 Trade names 625 212 41 40 584 172 Research and development in process 9,183 4,332 0 0 9,183 4,332 Total $ 27,988 $ 13,591 $ 6,501 $ 5,916 $ 21,487 $ 7,675

SALES RESERVES AND ALLOWANCES (

SALES RESERVES AND ALLOWANCES (Tables)	12 Months Ended
	Dec. 31, 2016
Revenue Recognition [Abstract]
Sales Reserves And Allowances Current [TextBlock]	NOTE 9—SALES RESERVES AND ALLOWANCES: Sales reserves and allowances consisted of the following: December 31, 2016 2015 (U.S. $ in millions) Rebates $ 3,482 $ 3,382 Medicaid and other governmental allowances 1,729 1,319 Chargebacks 1,584 1,091 Returns 844 598 Other 200 211 $ 7,839 $ 6,601

LONG TERM EMPLOYEE RELATED OB39

LONG TERM EMPLOYEE RELATED OBLIGATIONS (Tables)	12 Months Ended
	Dec. 31, 2016
Long Term Employee Related Obligations Tables [Abstract]
Long-term employee-related obligations	NOTE 10—LONG-TERM EMPLOYEE-RELATED OBLIGATIONS: a. Long-term employee-related obligations consisted of the following: December 31, 2016 2015 (U.S. $ in millions) Accrued severance obligations $ 120 $ 123 Defined benefit plans 197 157 Total $ 317 $ 280

DEBT OBLIGATIONS (Tables)

DEBT OBLIGATIONS (Tables)	12 Months Ended
	Dec. 31, 2016
Senior Notes And Loans Tables [Abstract]
Schedule of senior notes and loans	NOTE 11—DEBT OBLIGATIONS: a. Short-term debt: December 31, Weighted average interest rate as of December 31 Maturity 2016 2015 (U.S. $ in millions) Revolving credit facility LIBOR +1.125% 2017 $ 1,240 $ - Term loan GBP 510 million* GBP LIBOR + 0.7% 2017 $ 629 $ - Term loan JPY 8.0 billion JPY LIBOR +0.223% 2017 $ 68 - Bank and financial institutions 5.79% $ 15 $ 75 Convertible debentures (see note 12) 0.25% 2026 $ 514 521 Current maturities of long-term liabilities $ 810 989 Total short term debt $ 3,276 $ 1,585 *In January 2017, Teva repaid this loan in full. b. Long-term debt includes the following: Weighted average interest rate as of December 31, 2016 Maturity December 31, 2016 December 31, 2015 % (U.S. $ in millions) Senior notes EUR 1,750 million (1) 0.38% 2020 $ 1,834 $ - Senior notes EUR 1,500 million (1) 1.13% 2024 1,566 - Senior notes EUR 1,300 million 1.25% 2023 1,357 1,409 Senior notes EUR 1,000 million 2.88% 2019 1,050 1,092 Senior notes EUR 750 million (1) 1.63% 2028 780 - Senior notes EUR 700 million 1.88% 2027 733 762 Senior notes USD 3,500 million (2) 3.15% 2026 3,491 - Senior notes USD 3,000 million (2) 2.20% 2021 2,995 - Senior notes USD 3,000 million (2), (3) 2.80% 2023 2,991 - Senior notes USD 2,000 million (2) 1.70% 2019 2,000 - Senior notes USD 2,000 million (2) 4.10% 2046 1,984 - Senior notes USD 1,500 million (2) 1.40% 2018 1,498 - Senior notes USD 950 million (4) 2.40% 2016 - 950 Senior notes USD 844 million (5) 2.95% 2022 868 843 Senior notes USD 789 million 6.15% 2036 781 780 Senior notes USD 700 million 2.25% 2020 700 700 Senior notes USD 613 million (5) 3.65% 2021 626 611 Senior notes USD 588 million 3.65% 2021 587 586 Senior notes CHF 450 million 1.50% 2018 442 455 Senior notes CHF 350 million (6) 0.50% 2022 344 - Senior notes CHF 350 million (6) 1.00% 2025 345 - Senior notes CHF 300 million (6) 0.13% 2018 295 - - Fair value hedge accounting adjustments (2) (10) Total senior notes 27,265 8,178 Term loan USD 2.5 billion (7) LIBOR +1.125% 2018 2,500 - Term loan USD 2.5 billion (7) LIBOR +1.25% 2017-2020 2,500 - Term loan JPY 65 billion 0.99% 2017 560 544 Term loan JPY 35 billion 1.42% 2019 299 290 Term loan JPY 35 billion LIBOR +0.3% 2018 299 290 Other loans JPY 5 billion 1.67% 2016 - 39 Total loans 6,158 1,163 Debentures USD 15 million 7.20% 2018 15 15 Other 7.48% 2026 9 5 Total debentures and others 24 20 Less current maturities (810) (989) Derivative instruments 2 11 Less debt issuance costs* (115) (25) Total long-term debt $ 32,524 $ 8,358 * In accordance with FASB guidance, effective January 1, 2016, long-term debt is presented net of related debt issuance costs. Prior periods were adjusted to conform with the guidance. The required annual principal payments of long-term debt, excluding debt issuance cost as of December 31, 2016, starting with the year 2018, are as follows: December 31, 2016 (U.S. $ in millions) 2018 $ 5,299 2019 3,849 2020 4,034 2021 4,208 2022 and thereafter 15,249 $ 32,639

EQUITY (Tables)

EQUITY (Tables)	12 Months Ended
	Dec. 31, 2016
Equity Tables [Abstract]
Status of option plans	Year ended December 31, 2016 2015 2014 Number (in thousands) Weighted average exercise price Number (in thousands) Weighted average exercise price Number (in thousands) Weighted average exercise price Balance outstanding at beginning of year 25,233 $ 49.69 26,733 $ 45.91 32,481 $ 45.05 Changes during the year: Granted 10,895 53.21 7,655 59.82 6,935 48.60 Exercised (766) 44.24 (8,127) 46.88 (11,423) 45.05 Forfeited (1,382) 54.09 (1,028) 48.96 (1,260) 46.11 Expired (1,191) 52.79 - - - Balance outstanding at end of year 32,789 50.71 25,233 49.69 26,733 45.91 Balance exercisable at end of year 14,468 46.06 11,299 44.67 12,632 47.16
Schedule of ordinary shares issued upon outstanding options	The following tables summarize information at December 31, 2016 regarding the number of ordinary shares issuable upon (1) outstanding options and (2) vested options: (1) Number of ordinary shares issuable upon exercise of outstanding options Range of exercise prices Balance at end of period (in thousands) Weighted average exercise price Weighted average remaining life Aggregate intrinsic value (in millions) Number of shares $ Years $ Lower than $35.11 21 17.83 6.33 * $35.11 - $40.10 3,338 38.55 6.32 - $40.11 - $45.10 4,483 42.02 5.26 - $45.11 - $50.10 7,179 48.54 6.33 - $50.11 - $55.10 9,372 53.15 8.99 - $55.11 - $60.10 2,414 57.02 8.01 - $60.11 - $67.00 5,982 60.37 8.13 - Total 32,789 50.71 7.40 *
Schedule of ordinary shares issued upon vested options	(2) Number of ordinary shares issuable upon exercise of vested options Range of exercise prices Balance at end of period (in thousands) Weighted average exercise price Weighted average remaining life Aggregate intrinsic value (in millions) Number of shares $ Years $ Lower than $35.11 6 18.02 6.13 * $35.11 - $40.10 3,013 38.66 6.06 - $40.11 - $45.10 4,133 42.00 5.04 - $45.11 - $50.10 5,000 48.44 5.94 - $50.11 - $55.10 528 50.55 4.28 - $55.11 - $60.10 283 58.33 3.61 - $60.11 - $67.00 1,505 60.35 7.90 - Total 14,468 46.06 5.81 * * Represents an amount less than 0.5 million.
Schedule of the number of RSUs issued and outstanding	Year ended December 31, 2016 2015 2014 Number (in thousands) Weighted average grant date fair value Number (in thousands) Weighted average grant date fair value Number (in thousands) Weighted average grant date fair value Balance outstanding at beginning of year 2,551 $51.43 2,466 $43.05 2,512 $40.48 Granted 3,193 40.78 1,519 56.75 1,342 46.09 Vested (830) 45.79 (1,112) 41.04 (1,146) 41.55 Forfeited (278) 46.08 (322) 48.27 (242) 40.05 Balance outstanding at end of year 4,636 45.15 2,551 51.43 2,466 43.05
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]	The weighted average fair value of options granted during the years was estimated by using the Black-Scholes option-pricing model as follows: Year ended December 31, 2016 2015 2014 Weighted average fair value $ 9.4 $ 10.9 $ 9.3 The fair value of these options was estimated on the date of grant, based on the following weighted average assumptions: Year ended December 31, 2016 2015 2014 Dividend yield 2.6% 2.3% 2.9% Expected volatility 25% 24% 25% Risk-free interest rate 1.4% 1.8% 1.9% Expected term 5 years 5 years 6 years Year ended December 31, 2016 2015 2014 (U.S. $ in millions) Employee stock options $ 56 $ 62 $ 47 RSUs and PSUs 66 55 38 Total stock-based compensation expense 122 117 85 Tax effect on stock-based compensation expense 26 19 14 Net effect $ 96 $ 98 $ 71
Treasury Stock Shares Acquired [Table Text Block]	Year ended December 31, 2016 2015 2014 (in millions) Amount spent on shares repurchased $ - $ 439 $ 500 Number of shares repurchased - 7.7 8.7
Accumulated Other Comprehensive Income/(Loss) (net of tax)	Net Unrealized Gains/(Losses) Benefit Plans Foreign currency translation adjustments Available-for-sale securities Derivative financial instruments Actuarial gains/(losses) and prior service (costs)/credits Total Balance, 1 January, 2014 151 5 (197) (50) (91) Other comprehensive income/(loss) before reclassifications (1,429) (12) 240 (55) (1,256) Amounts reclassified to the statements of income (5) 2 (3) (2) (8) Net other comprehensive income/(loss) before tax (1,434) (10) 237 (57) (1,264) Corresponding income tax - (2) - 14 12 Net other comprehensive income/(loss) after tax* (1,434) (12) 237 (43) (1,252) Balance, December 31, 2014 (1,283) (7) 40 (93) (1,343) Other comprehensive income/(loss) before reclassifications (1,131) (413) 137 33 (1,374) Amounts reclassified to the statements of income 24 737 (2) 4 763 Net other comprehensive income/(loss) before tax (1,107) 324 135 37 (611) Corresponding income tax 6 (5) - (2) (1) Net other comprehensive income/(loss) after tax* (1,101) 319 135 35 (612) Balance, December 31, 2015 (2,384) 312 175 (58) (1,955) Other comprehensive income/(loss) before reclassifications (355) (456) (491) (26) (1,328) Amounts reclassified to the statements of income 3 140 14 (6) 151 Net other comprehensive income/(loss) before tax (352) (316) (477) (32) (1,177) Corresponding income tax (33) (3) - 9 (27) Net other comprehensive income/(loss) after tax* (385) (319) (477) (23) (1,204) Balance, December 31, 2016 (2,769) (7) (302) (81) (3,159) *Amounts do not include foreign currency translation adjustments attributable to noncontrolling interests of $60 million loss in 2016, $1 million loss in 2015 and $6 million loss in 2014.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2016
Income Taxes [Absract]
Schedule of income before income taxes	NOTE 15—INCOME TAXES: a. Income before income taxes: Year ended December 31, 2016 2015 2014 (U.S. $ in millions) Parent Company and its Israeli subsidiaries $ 1,516 $ 1,932 $ 2,139 Non-Israeli subsidiaries (692) 420 1,499 $ 824 $ 2,352 $ 3,638
Schedule of the provision for income taxes	b. Income taxes: Year ended December 31, 2016 2015 2014 (U.S. $ in millions) In Israel $ 209 $ 149 $ 147 Outside Israel 312 485 444 $ 521 $ 634 $ 591 Current $ 481 $ 298 $ 879 Deferred 40 336 (288) $ 521 $ 634 $ 591
Accumulated Other Comprehensive Income/(Loss) (net of tax)	Year ended December 31, 2016 2015 2014 (U.S. $ in millions) Income before income taxes $ 824 $ 2,352 $ 3,638 Statutory tax rate in Israel 25.0% 26.5% 26.5% Theoretical provision for income taxes $ 206 $ 623 $ 964 Increase (decrease) in effective tax rate due to: The Parent Company and its Israeli subsidiaries - Mainly tax benefits arising from reduced tax rates under benefit programs (212) (337) (524) Non-Israeli subsidiaries (*) 546 447 88 Increase (decrease) in other uncertain tax positions—net (19) (99) 63 Effective consolidated income taxes $ 521 $ 634 $ 591 * In 2016, income before income taxes included impairments and devaluations in non-Israeli subsidiaries that did not have a corresponding tax effect, with the result that the tax rate on our non-Israeli subsidiaries is higher than usual.
Schedule of deferred income taxes	c. Deferred income taxes: December 31, 2016 2015 (U.S. $ in millions) Short-term deferred tax assets—net (*): Inventory related $ 0 $ 382 Sales reserves and allowances 0 254 Provision for legal settlements 0 89 Provisions for employee-related obligations 0 45 Carryforward losses and deductions (**) 0 60 Other 0 64 0 894 Valuation allowance—in respect of carryforward losses and deductions that may not be utilized 0 (190) $ 0 $ 704 * 2016 balances are presented under long term deferred taxes, due to the implementation of ASU 2015-17. ** The amounts are shown after reduction for unrecognized tax benefits of $108 million, at December 31, 2015, where Teva has net operating loss carryforwards, similar tax losses, and/or tax credit carryforwards that are available, under the tax law of the applicable jurisdiction, to offset any additional income taxes that would result from the settlement of a tax position. December 31, 2016 2015 Long-term deferred tax assets (liabilities)—net(*): (U.S. $ in millions) Inventory related $ 344 $ 0 Sales reserves and allowances 311 0 Provision for legal settlements 232 0 Intangible assets (***) (5,569) (1,900) Carryforward losses and deductions and credits (**) (***) 1,922 989 Property, plant and equipment (312) (207) Provisions for employee related obligations 108 65 Other 163 125 (2,801) (928) Valuation allowance—in respect of carryforward losses and deductions that may not be utilized (***) (1,689) (570) $ (4,490) $ (1,498) $ (4,490) $ (794) * 2016 balances are presented under long term deferred taxes, due to the implementation of ASU 2015-17. ** The amounts are shown after reduction for unrecognized tax benefits of $23 million and $70 million as of December 31, 2016 and 2015, respectively. This amount represents the tax effect of gross carryforward losses and deductions with the following expirations: 2017-2019 — $163 million; 2020-2026 — $551 million; 2027 and thereafter — $176 million. The remaining balance—$1055 million—can be utilized with no expiration date. *** The increase in 2016 was mianly due to Actavis Generics.
ScheduleOfDeferredTaxAssetsAndLiabilitiesByReportCaption[Table]	The deferred income taxes are reflected in the balance sheets among: December 31, 2016 2015 (U.S. $ in millions) Current assets—deferred income taxes (*) $ - $ 735 Current liabilities—other current liabilities (*) - (31) Other non-current assets 725 250 Long-term liabilities—deferred income taxes (5,215) (1,748) $ (4,490) $ (794) (*) 2016 balances are presented under long term deferred taxes, due to the implementation of ASU 2015-17.
Schedule of unrecognized tax benefits	Year ended December 31, 2016 2015 2014 (U.S. $ in millions) Balance at the beginning of the year $ 648 $ 713 $ 665 Increase (decrease) related to prior year tax positions, net 23 (6) 38 Increase related to current year tax positions 71 43 51 Decrease related to settlements with tax authorities and lapse of applicable statutes of limitations (103) (99) (38) Liabilities assumed in acquisitions 101 0 0 Other (6) (3) (3) Balance at the end of the year $ 734 $ 648 $ 713

DERIVATIVE INSTRUMENTS AND HE43

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	12 Months Ended
	Dec. 31, 2016
Financial Instruments And Risk Management Tables [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	NOTE 1 6 – D ERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES: Foreign exchange risk management : In 2016 , approximately 44% of Teva's revenues were denominated in currencies other than the U.S. dollar . As a result, Teva is subject to significant foreign currency risks. The Company enters into forward exchange contracts in non-functional currencies and purchases and writes non-functional currency options in order to hedge the currency exposure on identifiable balance sheet items. In addition, the Company takes steps to reduce exposure by using “natural” hedging. The Company also acts to offset risks in opposite directions among the companies in the Group. The currency hedged items are usually denominated in the following main currencies: the new Israeli shekel (NIS), the euro (EUR), the Swiss franc (CHF), the Japanese yen (JPY), the British pound (GBP), the Hungarian forint (HUF), the Croatian kuna (HRK) , other European currencies, the Mexican peso (MXN) and other Latin American currencies. The writing of options is part of a comprehensive currency hedging strategy. <> The counterparties to the derivatives are comprise d mainly of major banks and, in light of the current financial environment, the Company is monitoring the associated inherent credit risks. The Company does not enter into derivative transactions for trading purposes . Venezuela Venezuela has experienced hyperinflation in recent years. The government of Venezuela currently has two official exchange rates: the DIPRO rate of 10 bolivars per U.S. dollar (which replaced the CENCOEX rate of 6.3 in March 2016) and the DICOM rate, which fluctuates and is currently approximately 650 bolivars per U.S. dollar. Following the announcement of the Venezuelan Central Bank and the Ministry for Banking and Finance of FX Regulation 35, effective March 10, 2016, the DIPRO rate was used to settle transactions involving the importation, manufacture and distribution of pharmaceutical products. Teva used the CENCOEX rate until March 2016 and then replaced it with the DIPRO rate to report its Venezuelan financial position, results of operations and cash flows, since it believe d that the nature of its business operations in Venezuela, which include the importation, manufacture and distribution of pharmaceutical products, qualifie d for the most preferential rates permitted by law. In November 2016, the unofficial exchange rate increased at an accelerated rate, indicating further economic distress. This, together with a decrease in scope of transactions involving the importation, manufacture and distribution of pharmaceutical products that were settled using the DIPRO rate of 10 bolivars per dollar, led Teva to replace the official DIPRO rate it had used to report its Venezuelan financial position, results of operations and cash flows with a blended exchange rate of 273 bolivar per U.S. dollar. We began using this blended exchange rate as of December 1, 2016, and it was determined based on a weighted average of the DIPRO and DICOM exchange rates affecting our transactions. We will reevaluate this blended exchange rate on a quarterly basis. As a result of the developments described above, Teva impaired its monetary balance sheet items related to Venezuela twice in 2016, with a devaluation of $246 million in the first quarter of 2016, following introduction of the DIPRO rate, and an additional devaluation of $500 million in the fourth quarter of 2016, following our decision to adopt a blended rate. In addition, we recorded $133 million in cost of sales, to adjust our inventory balance in Venezuela to reflect the U.S dollar fair market value of the inventory. Interest risk management : The Company raises capital through various debt instruments, including straight notes that bear a fixed or variable interest rate, bank lo ans, securitizations and convertible debentures. In some cases, the Company has swapped from a fixed to a floating interest rate (“fair value hedge”) and from a fixed to a fixed interest rate with an exchange from a currency other than the functional currency (“cash flow hedge”), thereby reducing overall interest expenses or hedging risks associated with interest rate fluctuations. c. Derivative instrument disclosure: The following table summarizes the notional amounts for hedged items, when transactions are designated as hedge accounting: December 31, 2016 2015 (U.S. $ in millions) Cross-currency swap - cash flow hedge $ 588 $ 588 Interest rate swap - fair value hedge 500 1,294 Forward starting interest rate swap - cash flow hedge - 3,500 Treasury lock - cash flow hedge - 500 The following table summarizes the classification and fair values of derivative instruments: Fair value Designated as hedging instruments Not designated as hedging instruments December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 Reported under (U.S. $ in millions) Asset derivatives: Other current assets: Forward starting interest rate swaps - cash flow hedge 26 - Option and forward contracts - 10 25 Other non-current assets: Cross-currency swaps - cash flow hedge 88 78 - Interest rate swaps - fair value hedge 1 - Liability derivatives: Other current liabilities: Forward starting interest rate swaps - cash flow hedge (10) - Treasury lock- cash flow hedge (5) - Option and forward contracts - (17) (11) Senior notes and loans: Interest rate swaps - fair value hedge (2) (11) -
Schedule of Accounts Receivable Securitization	As of and for the year ended December 31, 2016 2015 (U.S. $ in millions) Sold receivables at the beginning of the year $ 445 $ 585 Proceeds from sale of receivables 3,784 3,447 Cash collections (remitted to the owner of the receivables) (3,660) (3,532) Effect of currency exchange rate changes 52 (55) Sold receivables at the end of the year $ 621 $ 445

FINANCIAL EXPENSES NET (Tables)

FINANCIAL EXPENSES NET (Tables)	12 Months Ended
	Dec. 31, 2016
Financial Expenses Net Tables [Abstract]
Schedule of financial expenses	NOTE 17—FINANCIAL EXPENSES- NET: Year ended December, 31 2016 2015 2014 (U.S. $ in millions) Venezuela devaluation (1) $ 746 $ - $ - Interest expenses and other bank charges 546 270 300 Other-than-temporary impairment 136 631 6 Income from investments (51) (34) (24) Foreign exchange (gains) losses - net (49) (9) 30 Other, net (2) 2 142 1 Total finance expense — net $ 1,330 $ 1,000 $ 313 (1) For further information regarding the Venezuela devaluation, refer to note 16a. (2) Expenses in 2015 were comprised mainly of expenses relating to the debt tender offer and the termination of related swap agreements.

OTHER EXPENSES (Tables)

OTHER EXPENSES (Tables)	12 Months Ended
	Dec. 31, 2016
Restructuring And Impairment [Abstract]
Schedule Of Restructuring Reserve By Type Of Cost [TextBlock]	NOTE 18—OTHER EXPENSES: a. Impairments, restructuring and others: Impairments, restructuring and others consisted of the following: Year ended December 31, 2016 2015 2014 (U.S. $ in millions) Impairment of long-lived assets (see notes 6 and 8) $ 746 $ 361 $ 387 Contingent consideration (see note 3) 83 399 (20) Acquisition, integration and related costs 261 221 13 Restructuring 245 183 246 Other (636) (33) 24 Total $ 699 $ 1,131 $ 650

SEGMENTS (Tables)

SEGMENTS (Tables)	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]	a. Segment information: Generics Specialty Year ended December 31, Year ended December 31, 2016 2015 2014 2016 2015 2014 (U.S.$ in millions) Revenues $ 11,990 $ 10,540 $ 10,810 $ 8,674 $ 8,338 $ 8,560 Gross profit 5,696 4,903 4,601 7,558 7,200 7,457 R&D expenses 659 519 521 998 918 872 S&M expenses 1,727 1,459 1,734 1,899 1,921 1,990 Segment profit $ 3,310 $ 2,925 $ 2,346 $ 4,661 $ 4,361 $ 4,595 Year ended December 31, 2016 2015 2014 U.S.$ in millions Generic medicines profit $ 3,310 $ 2,925 $ 2,346 Specialty medicines profit 4,661 4,361 4,595 Total segment profit 7,971 7,286 6,941 Profit of other activities 68 75 46 8,039 7,361 6,987 Amounts not allocated to segments: Amortization 993 838 1,036 General and administrative expenses 1,236 1,239 1,217 Impairments, restructuring and others 699 1,131 650 Goodwill impairment 900 - - Inventory step-up 383 - - Purchase of research and development in process 423 21 - Costs related to regulatory actions taken in facilities 153 36 75 Legal settlements and loss contingencies 899 631 (111) Other unallocated amounts (1) 199 113 169 Consolidated operating income 2,154 3,352 3,951 Financial expenses - net 1,330 1,000 313 Consolidated income before income taxes $ 824 $ 2,352 $ 3,638 (1) Included for 2016, $133 million in inventory-related expenses in connection with the devaluation in Venezuela. b. Segment revenues by geographic area: Year ended December 31, 2016 2015 2014 (U.S.$ in millions) Generic Medicines United States $ 4,556 $ 4,795 $ 4,516 Europe* 3,563 3,146 3,638 Rest of the World 3,871 2,599 2,656 Total Generic Medicines 11,990 10,540 10,810 Specialty Medicines United States 6,724 6,442 6,110 Europe* 1,598 1,518 1,898 Rest of the World 352 378 552 Total Specialty Medicines 8,674 8,338 8,560 Other Revenues United States 369 12 8 Europe* 248 226 287 Rest of the World 622 536 607 Total Other Revenues 1,239 774 902 Total Revenues $ 21,903 $ 19,652 $ 20,272 * We define our European region as the European Union and certain other European countries.
Schedule of net sales by product line	c. Net revenues from specialty medicines were as follows: Year ended December 31, 2016 2015 2014 (U.S. $ in millions) CNS $ 5,283 $ 5,213 $ 5,575 Copaxone® 4,223 4,023 4,237 Azilect® 410 384 428 Nuvigil® 200 373 388 Respiratory 1,274 1,129 957 ProAir® 565 549 478 Qvar® 462 392 286 Oncology 1,139 1,201 1,180 Treanda® 661 741 767 Women's health 458 461 504 Other Specialty* 520 334 344 Total Specialty Medicines $ 8,674 $ 8,338 $ 8,560 * Includes the $150 million royalty payment from the Ninlaro® transaction in 2016.
Schedule of PPE by geographical area	e. Property, plant and equipment—by geographical location were as follows: December 31, 2016 2015 (U.S. $ in millions) Israel $ 2,323 $ 2,159 United States 1,135 629 Croatia 542 539 Japan 427 415 Hungary 422 506 Ireland 343 313 Other 2,881 1,983 Total property, plant and equipment $ 8,073 $ 6,544

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2016
Earnings Per Share Tables [Abstract]
Schedule of earnings per share	NOTE 21—EARNINGS PER SHARE: The net income attributable to Teva and the weighted average number of ordinary shares used in computation of basic and diluted earnings per share for the years ended December 31, 2016, 2015 and 2014 are as follows: 2016 2015 2014 (U.S. $ in millions, except share data) Net income attributable to ordinary shareholders $ 68 $ 1,573 $ 3,055 + Interest expense on convertible senior debentures, and issuance costs , net of tax benefits - - * + Net income used for the computation of diluted earnings per share $ 68 $ 1,573 $ 3,055
Schedule of weighted average number of shares	Weighted average number of shares used in the computation of basic earnings per share 955 855 853 Add: Additional shares from the assumed exercise of employee stock options and unvested RSUs 3 5 3 Weighted average number of additional shares issued upon the assumed conversion of convertible senior debentures 3 4 2 Weighted average number of shares used in the computation of diluted earnings per share 961 864 858 * Represents an amount less than $0.5 million.

SCHEDULE II VALUATION AND QUA48

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS (Tables)	12 Months Ended
	Dec. 31, 2016
Schedule Of Valuation And Qualifying Accounts Tables [Abstract]
Schedule Of Valuation And Qualifying Accounts Disclosure Table [Text Block]	TEVA PHARMACEUTICAL INDUSTRIES LIMITED SCHEDULE II—VALUATION AND QUALIFYING ACCOUNTS Three Years Ended December 31, 2016 (U.S. $ in millions) Column A Column B Column C Column D Column E Balance at beginning of period Charged to costs and expenses Charged to other accounts Deductions Balance at end of period Allowance for doubtful accounts: Year ended December 31, 2016 $ 146 $ 5 $ 61 $ (21) $ 191 Year ended December 31, 2015 $ 149 $ 18 $ (6) $ (15) $ 146 Year ended December 31, 2014 $ 187 $ 22 $ (18) $ (42) $ 149 Allowance in respect of carryforward tax losses: Year ended December 31, 2016 $ 760 $ 135 $ 1,137 $ (342) $ 1,690 Year ended December 31, 2015 $ 671 $ 249 $ 1 $ (161) $ 760 Year ended December 31, 2014 $ 791 $ 128 $ 0 $ (248) $ 671

SIGNIFICANT ACCOUNTING POLICI49

SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Significant Accounting Policies [Abstract]
Percentage of consolidated sales in North America	53.00%
Shipping and handling costs, which are included in selling and marketing expenses	$ 134	$ 127	$ 151
Advertising expense	312	297	302
Property Plant And Equipment [Line Items]
Other Revenue	343	140	$ 167
Cash And Cash Equivalents And Marketable Securities Deposited In Banks And Financial Institutions	$ 1,900
Venezuel Acumulative Inflation Rate	100.00%
Deferred Tax Current ReclassifiedTo Non Currect	$ 978
Allowance For Doubtful Accounts Receivable	$ 191	$ 146
Building [Member]
Property Plant And Equipment [Line Items]
Property Plant And Equipment Useful Life Mainly	40
Other Machinery And Equipment [Member] | Minimum [Member]
Property Plant And Equipment [Line Items]
Property Plant And Equipment Useful Life	15 years 12 months 31 days
Other Machinery And Equipment [Member] | Maximum [Member]
Property Plant And Equipment [Line Items]
Property Plant And Equipment Useful Life	20 years 12 months 31 days
Other Capitalized Property Plant And Equipment [Member] | Minimum [Member]
Property Plant And Equipment [Line Items]
Property Plant And Equipment Useful Life	5 years 12 months 31 days
Other Capitalized Property Plant And Equipment [Member] | Maximum [Member]
Property Plant And Equipment [Line Items]
Property Plant And Equipment Useful Life	10 years 12 months 31 days

CERTAIN TRANSACTIONS (Details)

CERTAIN TRANSACTIONS (Details) - USD ($) $ in Millions	Mar. 02, 2016	Sep. 30, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Noncash Or Part Noncash Acquisitions [Line Items]
Total consideration			$ 33,400
Acquisition Cash Consideration			33,400
Japanese Business Venture Minority Interest			1,600
Acquisition costs			261	$ 221	$ 13
Labrys Biologics [Member]
Noncash Or Part Noncash Acquisitions [Line Items]
Total consideration			207
Acquisition Cash Consideration			207
Rimsa [Member]
Noncash Or Part Noncash Acquisitions [Line Items]
Total consideration	$ 2,300
Acquisition Cash Consideration	$ 2,300
Gross Contractual Amount Receivable			47
Receivable Not Expected To Be Collected			3
Actavis [Member]
Noncash Or Part Noncash Acquisitions [Line Items]
Net Debt Proceeds			20,300
Cash On Hand Consideration			8,100
Debt Issuance Costs			100
Total Equity Issuance Costs			200
Gross Contractual Amount Receivable			3,313
Receivable Not Expected To Be Collected			102
Litigation Matters Assumed By Teva			513
Working Capital Adjustments			223
Net Gain Teva From Products			720
Goodwill Disposal			99
Proceeds From Sale Of The Business		$ 527	1,218
Tramsaction Cost			143
Other Current Assets Related To Divestitures			$ 1,647
Shares Adjusted DiscountRate			5.80%
Total Associated Cost			$ 96
Associated Cost			143
Auspex [Member]
Noncash Or Part Noncash Acquisitions [Line Items]
Total consideration			3,300
Acquisition Cash Consideration			$ 3,300
Actavis Therty Year Notes [Member]
Noncash Or Part Noncash Acquisitions [Line Items]
The Effective average interest rate of the newly issued notes			2.32%
Actavis Debt Issuances Cur Dolar [Member]
Noncash Or Part Noncash Acquisitions [Line Items]
Proceeds From Issuance Of Debt			$ 15,000
Actavis Debt Issuances Cur Euro [Member]
Noncash Or Part Noncash Acquisitions [Line Items]
Proceeds From Issuance Of Debt			4,000
Actavis Debt Issuances Cur Chf [Member]
Noncash Or Part Noncash Acquisitions [Line Items]
Proceeds From Issuance Of Debt			1,000
Actavis Debt Issuances Cur Total [Member]
Noncash Or Part Noncash Acquisitions [Line Items]
Proceeds From Issuance Of Debt			20,400
Anda [Member]
Noncash Or Part Noncash Acquisitions [Line Items]
Cash Consideration			500
Other Treansactions [Member]
Noncash Or Part Noncash Acquisitions [Line Items]
Non Cash Consideration			1,800
Transactions Costs			25
Regeneron [Member]
Noncash Or Part Noncash Acquisitions [Line Items]
Research And Development Costs			1,000
Upfront Payment			250
Celltrion [Member]
Noncash Or Part Noncash Acquisitions [Line Items]
Payment			160
Refundable Payment			$ 60
Takeda [Member]
Noncash Or Part Noncash Acquisitions [Line Items]
Weighted Average Amortization Period			15

CERTAIN TRANSACTIONS (Details 1

CERTAIN TRANSACTIONS (Details 1) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Business Acquisition Date Of Acquisition Agreement1	Jul. 27, 2015
BusinessCombinationConsiderationTransferredAbstract
Acquisition Cash Consideration	$ 33,400
Price Per Share Transferred	$ 50.50
Discount Rate Description	7% to 11%
Goodwill Impairment Charge	$ 900	$ 0	$ 0
Japanese Venture [Member]
BusinessCombinationConsiderationTransferredAbstract
Net Assets Acquired	1,800
Nu Pathe [Member]
Business Acquisition [Line Items]
Business Acquisition Cost O fAcquired Entity Purchase Price	163
potential additional payments of purchase price	106
BusinessCombinationConsiderationTransferredAbstract
Contingent Payment	130
LabrysBiologics1 [Member]
Business Acquisition [Line Items]
Business Combination Contingent Consideration Liability Fair Value	251
potential additional payments of purchase price	625
Rimsa [Member]
BusinessCombinationConsiderationTransferredAbstract
Ppa Ajustment	707
Goodwill Impairment Charge	900
Carrying Value Reporting Unit	$ 1,100
Actavis [Member]
BusinessCombinationConsiderationTransferredAbstract
Shares issued as consideration for the acquisition	100.3
Purchase Price Allocated To Developed Products	$ 8,600
Purchase Price Allocated To Iprd	5,000
Correction To Amortization	263
Acquired Businesses Contribution Revenues	2,300
Contribution From Generic Segment	1,995
Contribution From Other Segments	350
Ppa Ajustment	538
Auspex [Member]
BusinessCombinationConsiderationTransferredAbstract
Cash Consideration Payable	223
Immuneering Corporation And Microchips BiotechInc [Member]
BusinessCombinationConsiderationTransferredAbstract
Acquisition Cash Consideration		$ 102
Ninlaro [Member]
BusinessCombinationConsiderationTransferredAbstract
Upfrontp Pyment	150
Additional Considerations	150
Attenukine [Member]
BusinessCombinationConsiderationTransferredAbstract
Upfrontp Pyment	30
Additional Considerations	280
Xenon. [Member]
BusinessCombinationConsiderationTransferredAbstract
Upfrontp Pyment	$ 41

CERTAIN TRANSACTIONS (Details 2

CERTAIN TRANSACTIONS (Details 2) - Actavis [Member] - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Business Acquisition Pro Forma Information [Line Items]
Net Revenue	$ 25,601	$ 26,812
Net (loss) income attributable to Teva	$ (791)	$ 1,427
Basic earnings per share attributable to Teva shareholders	$ (1.04)	$ 0.90
Diluted earnings per share attributable to Teva shareholders	$ (1.04)	$ 0.89

CERTAIN TRANSACTIONS (Details 4

CERTAIN TRANSACTIONS (Details 4) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2016	Nov. 30, 2014
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
LineOfCreditFacilityDescription	At the closing of the acquisition, Teva borrowed $5 billion under its term loan facility with a syndicate of banks. The term facility is split into two tranches of $2.5 billion each, with the first tranche maturing in full after three years and the second tranche maturing in five years with payment installments each year (see note 11). In addition, Teva terminated its $22 billion bridge loan credit agreement.
Xenon [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaborative Arrangement Upfront Cash Payment			$ 335
PGT [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaborative Arrangement, Rights and Obligations		Teva owns 49% of the joint venture, and P&G holds a controlling financial interest of 51%. The Company recognizes profits of the joint venture based on Teva's ownership percentage. The joint venture has certain independent operations and contracts for other services from its two partners in an effort to leverage their scale and capabilities and thereby maximize efficiencies. Such services include research and development, manufacturing, sales and distribution, administration and other services, provided under agreements with the joint venture. The partners have certain rights to terminate the joint venture after seven years and earlier under other circumstances. In July 2014, Teva sold its U.S. OTC plants, which were purchased as part of the agreement, back to P&G.
Takeda [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaborative Arrangement, Rights and Obligations		Teva assigned 49% in the business venture to Takeda in consideration of the contribution of its off-patented products business in Japan. The business venture will be consolidated in Teva's financial statements commencing April 1, 2016, and is expected to increase Teva's sales in the Japanese market. Takeda’s interest in the business venture will be accounted for under “net income (loss) attributable to non-controlling interests.”
Eagle [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaborative Arrangement Upfront Cash Payment	$ 30	$ 30
Collaborative Arrangement Additional Milestone Payments Amount	65	65
Collaborative Arrangement First Milestone Payments Amount	$ 15	$ 15

CERTAIN TRANSACTIONS (Details 6

CERTAIN TRANSACTIONS (Details 6) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Employee Related Obligations.	$ 859		$ 710
Additional paid in capital	23,409		$ 17,757
Acquisition Cash Consideration	33,400
Auspex [Member]
Business Acquisition [Line Items]
Cash and cash equivalents	201
Other non-current assets.	6
Deferred taxes and other noncurrent assets	126
In-process research and development	3,143
Goodwil	1,146
Total assets acquired	4,622
Deferred income taxes and other non-current liabilities	29
Other Current Liabilities	1,131
Total liabilities assumed	1,160
Net assets acquired	3,462
Rimsa PPA [Member]
Business Acquisition [Line Items]
Other Current Assets.	97
Deferred taxes and other noncurrent assets	146
In-process research and development	300
Goodwil	1,967
Product Rights	0
Trade names / customer relationships	0
Total assets acquired	2,510
Other Current Liabilities	121
Other Taxes And Long Term Liabilities	68
Total liabilities assumed	189
Net assets acquired	2,321
Takeda PPA [Member]
Business Acquisition [Line Items]
Inventories.	134
Goodwil	698
Product Rights	1,491
Total assets acquired	2,323
Deferred income taxes and other non-current liabilities	498
Total liabilities assumed	498
Net assets acquired	1,825
Actavis PPA [Member]
Business Acquisition [Line Items]
Inventories.	1,670
Trade Receivable	3,211
Property Plant And Equipment	1,370
Cash and cash equivalents	84
Other non-current assets.	24
Other Current Assets.	2,050
In-process research and development	5,006
Goodwil	24,192
Product Rights	8,640
Trade names / customer relationships	417
Total assets acquired	46,664
Sales Reserves And Allowances.	1,988
Employee Related Obligations.	134
Trade Payables	441
Accrued expenses.	920
Deferred income taxes and other non-current liabilities	3,493
Other Current Liabilities	376
Total liabilities assumed	7,352
Net assets acquired	39,312
Acquisition Cash Consideration	33,920
BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable	5,065
Business Combination Consideration Transferred Equity Based Compensation	25
Contingent Consideration 2	302
Total fair value of consideration transferred	39,312
Actavis Held For Sale [Member]
Business Acquisition [Line Items]
Trade receivables.	59
Inventory Held For Sale	63
Other Current Asset HeldForSale	1
Deferred income taxes.	7
Assets Held For Sale Property Plant And Equipments	36
Identifiable Intangible Assets Net Held For Sale	633
Total Assets Of The Disposal Group Classified As Held For Sale In The Consolidated Balance Sheets	799
Account Payable And Accruals Held For Sale	83
Other current liabilities.	10
Other Taxes AndLong Term Liabilities Held For Sale	23
Total Liabilities Of The Disposal Group Classified As Held For Sale In The Consolidated Balance Sheet	116
Actavis Preliminary Values [Member]
Business Acquisition [Line Items]
Inventories.		$ 1,463
Trade Receivable		2,995
Property Plant And Equipment		1,605
Cash and cash equivalents		82
Other non-current assets.		19
Other Current Assets.		2,218
In-process research and development		3,999
Goodwil		19,630
Product Rights		16,486
Trade names / customer relationships		0
Total assets acquired		48,497
Sales Reserves And Allowances.		1,912
Employee Related Obligations.		118
Trade Payables		241
Accrued expenses.		839
Deferred income taxes and other non-current liabilities		6,215
Other Current Liabilities		654
Total liabilities assumed		9,979
Net assets acquired		38,518
Actavis Measurement Period Adjustments [Member]
Business Acquisition [Line Items]
Inventories.	207
Trade Receivable	216
Property Plant And Equipment	(235)
Cash and cash equivalents	2
Other non-current assets.	5
Other Current Assets.	(168)
In-process research and development	1,007
Goodwil	4,562
Product Rights	(7,846)
Trade names / customer relationships	417
Total assets acquired	(1,833)
Sales Reserves And Allowances.	76
Employee Related Obligations.	16
Trade Payables	200
Accrued expenses.	81
Deferred income taxes and other non-current liabilities	(2,722)
Other Current Liabilities	(278)
Total liabilities assumed	(2,627)
Net assets acquired	794
Rimsa Preliminary Value [Member]
Business Acquisition [Line Items]
Other Current Assets.		88
Deferred taxes and other noncurrent assets		702
In-process research and development		177
Goodwil		1,018
Product Rights		781
Trade names / customer relationships		49
Total assets acquired		2,815
Other Current Liabilities		124
Other Taxes And Long Term Liabilities		370
Total liabilities assumed		494
Net assets acquired		2,321
Rimsa Measurement Period Adjustments [Member]
Business Acquisition [Line Items]
Other Current Assets.	9
Deferred taxes and other noncurrent assets	(556)
In-process research and development	123
Goodwil	949
Product Rights	(781)
Trade names / customer relationships	(49)
Total assets acquired	(305)
Other Current Liabilities	(3)
Other Taxes And Long Term Liabilities	(302)
Total liabilities assumed	(305)
Net assets acquired	0
Takeda Preliminary Value [Member]
Business Acquisition [Line Items]
Inventories.		139
Goodwil		566
Product Rights		1,664
Total assets acquired		2,369
Deferred income taxes and other non-current liabilities		544
Total liabilities assumed		544
Net assets acquired		$ 1,825
Takeda Measurement Period Adjustments [Member]
Business Acquisition [Line Items]
Inventories.	(5)
Goodwil	132
Product Rights	(173)
Total assets acquired	(46)
Deferred income taxes and other non-current liabilities	(46)
Total liabilities assumed	(46)
Net assets acquired	$ 0

CERTAIN TRANSACTIONS (Details 7

CERTAIN TRANSACTIONS (Details 7) € in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)	Dec. 31, 2016EUR (€)	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
Principal amount currently outstanding on the debt instruments	$ 514		$ 521
Debt Instrument Repurchased Face Amount	1,200
Repayments Of Debt	$ 1,300	€ 122

FAIR VALUE MEASUREMENT (Details

FAIR VALUE MEASUREMENT (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Financial instruments carried at fair value [Line Items]
Total	$ 1,201	$ 7,685
Options And Forward Contracts Derivative Liabilities [Member]
Financial instruments carried at fair value [Line Items]
Derivatives - Liabilities	17	11
Asset Derivatives [Member]
Financial instruments carried at fair value [Line Items]
Derivatives - Asset	10	25
ContingentConsiderationClassifiedAsAssetsOrLiabilitesFairValueDisclosure	(828)	(812)
Level 1 [Member]
Financial instruments carried at fair value [Line Items]
Total	1,844	8,309
Level 1 [Member] | Options And Forward Contracts Derivative Liabilities [Member]
Financial instruments carried at fair value [Line Items]
Derivatives - Liabilities	0	0
Level 1 [Member] | Asset Derivatives [Member]
Financial instruments carried at fair value [Line Items]
Derivatives - Asset	0	0
ContingentConsiderationClassifiedAsAssetsOrLiabilitesFairValueDisclosure	0	0
Level 2 [Member]
Financial instruments carried at fair value [Line Items]
Total	168	187
Level 2 [Member] | Options And Forward Contracts Derivative Liabilities [Member]
Financial instruments carried at fair value [Line Items]
Derivatives - Liabilities	17	11
Level 2 [Member] | Asset Derivatives [Member]
Financial instruments carried at fair value [Line Items]
Derivatives - Asset	10	25
ContingentConsiderationClassifiedAsAssetsOrLiabilitesFairValueDisclosure	0	0
Level 3 [Member]
Financial instruments carried at fair value [Line Items]
Total	(811)	(811)
Level 3 [Member] | Options And Forward Contracts Derivative Liabilities [Member]
Financial instruments carried at fair value [Line Items]
Derivatives - Liabilities	0	0
Level 3 [Member] | Asset Derivatives [Member]
Financial instruments carried at fair value [Line Items]
Derivatives - Asset	0	0
ContingentConsiderationClassifiedAsAssetsOrLiabilitesFairValueDisclosure	(828)	(812)
Money Market Funds [Member]
Financial instruments carried at fair value [Line Items]
Cash And Cash Equivalents Fair Value Disclosure	24	162
Money Market Funds [Member] | Level 1 [Member]
Financial instruments carried at fair value [Line Items]
Cash And Cash Equivalents Fair Value Disclosure	24	162
Money Market Funds [Member] | Level 2 [Member]
Financial instruments carried at fair value [Line Items]
Cash And Cash Equivalents Fair Value Disclosure	0	0
Money Market Funds [Member] | Level 3 [Member]
Financial instruments carried at fair value [Line Items]
Cash And Cash Equivalents Fair Value Disclosure	0	0
Demand Deposits [Member]
Financial instruments carried at fair value [Line Items]
Cash And Cash Equivalents Fair Value Disclosure	964	6,784
Demand Deposits [Member] | Level 1 [Member]
Financial instruments carried at fair value [Line Items]
Cash And Cash Equivalents Fair Value Disclosure	964	6,784
Demand Deposits [Member] | Level 2 [Member]
Financial instruments carried at fair value [Line Items]
Cash And Cash Equivalents Fair Value Disclosure	0	0
Demand Deposits [Member] | Level 3 [Member]
Financial instruments carried at fair value [Line Items]
Cash And Cash Equivalents Fair Value Disclosure	0	0
Structured Finance [Member]
Financial instruments carried at fair value [Line Items]
Investment in securities	89	94
Structured Finance [Member] | Level 1 [Member]
Financial instruments carried at fair value [Line Items]
Investment in securities	0	0
Structured Finance [Member] | Level 2 [Member]
Financial instruments carried at fair value [Line Items]
Investment in securities	89	94
Structured Finance [Member] | Level 3 [Member]
Financial instruments carried at fair value [Line Items]
Investment in securities	0	0
Other Debt Obligations [Member]
Financial instruments carried at fair value [Line Items]
Investment in securities	31	12
Other Debt Obligations [Member] | Level 1 [Member]
Financial instruments carried at fair value [Line Items]
Investment in securities	14	11
Other Debt Obligations [Member] | Level 2 [Member]
Financial instruments carried at fair value [Line Items]
Investment in securities	0	0
Other Debt Obligations [Member] | Level 3 [Member]
Financial instruments carried at fair value [Line Items]
Investment in securities	17	1
Interest Rate Swap [Member]
Financial instruments carried at fair value [Line Items]
Derivatives - Asset	88	105
Interest Rate Swap [Member] | Level 1 [Member]
Financial instruments carried at fair value [Line Items]
Derivatives - Asset	0	0
Interest Rate Swap [Member] | Level 2 [Member]
Financial instruments carried at fair value [Line Items]
Derivatives - Asset	88	105
Interest Rate Swap [Member] | Level 3 [Member]
Financial instruments carried at fair value [Line Items]
Derivatives - Asset	0	0
Equity Securities [Member]
Financial instruments carried at fair value [Line Items]
Investment in securities	842	1,352
Equity Securities [Member] | Level 1 [Member]
Financial instruments carried at fair value [Line Items]
Investment in securities	842	1,352
Equity Securities [Member] | Level 2 [Member]
Financial instruments carried at fair value [Line Items]
Investment in securities	0	0
Equity Securities [Member] | Level 3 [Member]
Financial instruments carried at fair value [Line Items]
Investment in securities	0	0
Cross Currency Interest Rate Contract [Member]
Financial instruments carried at fair value [Line Items]
Derivatives - Liabilities	2	26
Cross Currency Interest Rate Contract [Member] | Level 1 [Member]
Financial instruments carried at fair value [Line Items]
Derivatives - Liabilities	0	0
Cross Currency Interest Rate Contract [Member] | Level 2 [Member]
Financial instruments carried at fair value [Line Items]
Derivatives - Liabilities	2	26
Cross Currency Interest Rate Contract [Member] | Level 3 [Member]
Financial instruments carried at fair value [Line Items]
Derivatives - Liabilities	$ 0	$ 0

FAIR VALUE MEASUREMENT (Detai57

FAIR VALUE MEASUREMENT (Details 1) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Fair value of financial liabilities measured using Level 3 inputs
Fair Value Measurement Asset Amount Realized		$ (13)
Investment In Debt Securities	16
Other net change to fair value [Abstract]
Carrying value		(811)	$ (616)
Cephalon [Member]
Changes in contingent consideration [Abstract]
Changes in contingent consideration	12	5
Other net change to fair value [Abstract]
Other net change to fair value - Included in earnings	(205)
Microdose [Member]
Changes in contingent consideration [Abstract]
Changes in contingent consideration	8	10
Nu Pathe [Member]
Changes in contingent consideration [Abstract]
Changes in contingent consideration	(122)	10
Eagle Transaction [Member]
Changes in contingent consideration [Abstract]
Changes in contingent consideration	179	63
Other net change to fair value [Abstract]
Other net change to fair value - Included in earnings	(115)
Gecko [Member]
Other net change to fair value [Abstract]
Other net change to fair value - Included in earnings	(6)
Eagle [Member]
Contingent consideration resulting from [Abstract]
Contingent consideration resulting from		128
Labrys Transaction [Member]
Changes in contingent consideration [Abstract]
Changes in contingent consideration	6	311
Other net change to fair value [Abstract]
Other net change to fair value - Included in earnings	(25)	(350)
Gecko Transaction [Member]
Contingent consideration resulting from [Abstract]
Contingent consideration resulting from		$ 5
Actavis Generic [Member]
Contingent consideration resulting from [Abstract]
Contingent consideration resulting from	$ 302

FAIR VALUE MEASUREMENT (Detai58

FAIR VALUE MEASUREMENT (Details 2) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Financial instrument measured on a basis other than fair value [Abstract]
Fair value at the end of the period	$ (27,025)	$ (9,083)
SeniorNotes And Convertible Senior Debentures [Member]
Financial instrument measured on a basis other than fair value [Abstract]
Fair value at the end of the period	(569)	(1,778)
Senior Note Issues [Member]
Financial instrument measured on a basis other than fair value [Abstract]
Fair value at the end of the period	$ (26,456)	$ (7,305)

INVESTMENT IN SECURITIES (Detai

INVESTMENT IN SECURITIES (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016
Marketable Securities [Abstract]
Available-for sale securities - Fair value	$ 986	$ 1,620	$ 986
Cost	985	1,303	985
Gross unrealized holding gains	44	338
Gross unrealized holding losses	43	21
Money Market Funds [Member]
Marketable Securities [Abstract]
Available-for sale securities - Fair value	24	162	24
Mylan Shares [Member]
Marketable Securities [Abstract]
Cash Consideration			202
Mesoblast [Member]
Marketable Securities [Abstract]
Impairment	$ 99		$ 99
Mylan [Member]
Marketable Securities [Abstract]
Average Share Price	$ 39.30		$ 39.30
Net loss Mylan	$ 5		$ 5
Additional Loss	$ 37		$ 37
Shares Been Sold 2017	12		12
Deferred Taxes And Other Current Assets [Member]
Marketable Securities [Abstract]
Available-for sale securities - Fair value	$ 679	11	$ 679
Long Term Investments And Receivables [Member]
Marketable Securities [Abstract]
Available-for sale securities - Fair value	$ 283	$ 1,447	$ 283

INVESTMENT IN SECURITIES (Det60

INVESTMENT IN SECURITIES (Details1) $ in Millions	Dec. 31, 2016USD ($)
Contractual maturities of debt securities
2,017	$ 38
2022 and thereafter	106
Total maturities of available-for-sale securities, at fair value	$ 144

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Inventories [Abstract]
Raw and packaging materials	$ 1,385	$ 1,195
Products in process	538	535
Finished products	2,832	2,050
Materials in transit and payments on account	199	186
Inventories	$ 4,954	$ 3,966

PROPERTY, PLANT AND EQUIPMENT62

PROPERTY, PLANT AND EQUIPMENT (Details) $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Property Plant and Equipment Net [Abstract]
Land owned or held under long-term leases	$ 439	$ 394
Buildings	3,331	2,591
Machinery and equipment	5,748	5,071
Computer equipment and other assets	1,774	1,492
Payments on account	634	525
Subtotal	11,926	10,073
Less-accumulated depreciation	3,853	3,529
Property, Plant and Equipment, Net, Total	8,073	6,544
Depreciation expense for the year	501	449	$ 464
Impairment charge during the year on property, plant and equipment	$ 149	$ 96	$ 163
Capitalized Land Lease Estimated Useful Lives Minimum	30
Capitalized Land Lease Estimated Useful Lives Maximum	99

GOODWILL (Details)

GOODWILL (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Goodwill Roll Forward [Line Items]
Goodwill, balance as of January 1	$ 19,025	$ 18,408
Goodwill Translation Adjustments	(446)	(595)
Goodwill acquired	26,829	1,212
Goodwill Impairment.	(900)
Goodwill Disposed	(99)
Goodwill, balance as of December 31	44,409	19,025
Generics [Member]
Goodwill Roll Forward [Line Items]
Goodwill, balance as of January 1	8,465	8,730
Goodwill Translation Adjustments	(370)	(265)
Goodwill acquired	25,767	0
Goodwill Impairment.	(900)
Goodwill Disposed	(99)
Goodwill, balance as of December 31	32,863	8,465
Specialty [Member]
Goodwill Roll Forward [Line Items]
Goodwill, balance as of January 1	9,420	8,502
Goodwill Translation Adjustments	(68)	(294)
Goodwill acquired	(29)	1,212
Goodwill, balance as of December 31	9,323	9,420
Other Good Will [Member]
Goodwill Roll Forward [Line Items]
Goodwill, balance as of January 1	1,140	1,176
Goodwill Translation Adjustments	(8)	(36)
Goodwill acquired	1,091	0
Goodwill, balance as of December 31	$ 2,223	$ 1,140

IDENTIFIABLE INTANGIBLE ASSET64

IDENTIFIABLE INTANGIBLE ASSET (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Estimated aggregate amortization of intangible assets
2,017	$ 1,178
2,018	1,273
2,019	1,159
2,020	1,081
2,021	932
Product rights, at cost	18,180	$ 9,047
Finite Lived Trade Names Gross	625	212
Research and development in process gross	9,183	4,332
Intangible assets, gross, excluding goodwill	27,988	13,591
Product rights, accumulated amortization	6,460	5,876
Finite Lived Trade Names Accumulated Amortization	41	40
Intangible assets accumulated amortization	6,501	5,916
Products rights net	11,720	3,171
Trade Names Net	584	172
Research and development in process net	9,183	4,332
Intangible assets, net (excluding goodwill) total	21,487	7,675
Impairment of intangible assets Excluding Goodwill	589	265	$ 224
Amortization Of Intangible Assets	993	$ 838	$ 1,036
Revascor Cephalon [Member]
Estimated aggregate amortization of intangible assets
Research and development in process net	258
Cinquil Cephalon [Member]
Estimated aggregate amortization of intangible assets
Research and development in process net	126
Lama Laba Microdose [Member]
Estimated aggregate amortization of intangible assets
Research and development in process net	62
Labrys [Member]
Estimated aggregate amortization of intangible assets
Research and development in process net	444
Auspex [Member]
Estimated aggregate amortization of intangible assets
Research and development in process net	3,143
Immuneering [Member]
Estimated aggregate amortization of intangible assets
Research and development in process net	87
Microchips [Member]
Estimated aggregate amortization of intangible assets
Research and development in process net	61
TD Hydrocodone Cephalon [Member]
Estimated aggregate amortization of intangible assets
Research and development in process net	47
Actavis Generics [Member]
Estimated aggregate amortization of intangible assets
Research and development in process net	$ 4,964

SALES RESERVES AND ALLOWANCES65

SALES RESERVES AND ALLOWANCES (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Revenue Recognition [Abstract]
Rebates	$ 3,482	$ 3,382
Chargebacks	1,584	1,091
Revenue Recognition Sales Returns Reserve For Sales Returns	844	598
Other	200	211
Sales Reserves And Allowances	7,839	6,601
Medicaid	$ 1,729	$ 1,319

LONG TERM EMPLOYEE RELATED OB66

LONG TERM EMPLOYEE RELATED OBLIGATIONS (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Employee-related obligations long-term
Accrued Severance Obligation	$ 120	$ 123
Defined benefit plans	197	157
Total	317	280
Employee-related obligations information
Long-term investments earmarked for severance pay liabilities in Israel	152	$ 140
Expected contributions to the pension funds	141
Future minimum benefit payments
2,017	16
2,018	14
2,019	12
2,020	12
2,021	13
2022 - 2026	$ 76

DEBT OBLIGATIONS (Details)

DEBT OBLIGATIONS (Details) $ in Millions	Dec. 31, 2016USD ($)
Maturities Of Long Term Debt [Abstract]
2,018	$ 5,299
2,019	3,849
2,020	4,034
2,021	4,208
2022 and thereafter	15,249
Long Term Debt include Issuance Cost	$ 32,639

DEBT OBLIGATIONS (Details 1)

DEBT OBLIGATIONS (Details 1) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Debt Instrument Maturity Date	Jan. 1, 2026
Senior Notes	$ 27,265	$ 8,178
Term Loans	6,158	1,163
Long Term Debentures	24	20
Less current maturities	(810)	(989)
Derivative Instruments	2	11
Less Debt Issuance Cost	(115)	(25)
Total Long Term Debt	$ 32,524	8,358
Term Loan JPY35 Billion Libor Plus	LIBOR +0.3%
Term Loan USD 2 Point 5 Billion Libor Plus	LIBOR +1.125%
Term Loan USD 2 Point 5 Billion2 Libor Plus	LIBOR +1.25%
Subsidiary Senior Notes Due 2020 One [Member]
Debt Instrument [Line Items]
The Effective average interest rate of the newly issued notes	0.38%
Debt Instrument Description Of Variable Rate Basis	Senior notes EUR 1,750 million (1)
Senior Notes	$ 1,834	0
Subsidiary Senior Notes Due 2024 [Member]
Debt Instrument [Line Items]
The Effective average interest rate of the newly issued notes	1.13%
Debt Instrument Description Of Variable Rate Basis	Senior notes EUR 1,500 million (1)
Senior Notes	$ 1,566	0
Subsidiary Senior Notes Due 2023 One [Member]
Debt Instrument [Line Items]
The Effective average interest rate of the newly issued notes	1.25%
Debt Instrument Description Of Variable Rate Basis	Senior notes EUR 1,300 million
Senior Notes	$ 1,357	1,409
Subsidiary Senior Notes Due 2019 One [Member]
Debt Instrument [Line Items]
The Effective average interest rate of the newly issued notes	2.88%
Debt Instrument Description Of Variable Rate Basis	Senior notes EUR 1,000 million
Senior Notes	$ 1,050	1,092
Subsidiary Senior Notes Due 2028 [Member]
Debt Instrument [Line Items]
The Effective average interest rate of the newly issued notes	1.63%
Debt Instrument Description Of Variable Rate Basis	Senior notes EUR 750 million (1)
Senior Notes	$ 780	0
Subsidiary Senior Notes Due 2027 [Member]
Debt Instrument [Line Items]
The Effective average interest rate of the newly issued notes	1.88%
Debt Instrument Description Of Variable Rate Basis	Senior notes EUR 700 million
Senior Notes	$ 733	762
Subsidiary Senior Notes Due 2026 One [Member]
Debt Instrument [Line Items]
The Effective average interest rate of the newly issued notes	3.15%
Debt Instrument Description Of Variable Rate Basis	Senior notes USD 3,500 million (2)
Senior Notes	$ 3,491	0
Subsidiary Senior Notes Due 2021 One [Member]
Debt Instrument [Line Items]
The Effective average interest rate of the newly issued notes	2.20%
Debt Instrument Description Of Variable Rate Basis	Senior notes USD 3,000 million (2)
Senior Notes	$ 2,995	0
Subsidiary Senior Notes Due 2023 Two [Member]
Debt Instrument [Line Items]
The Effective average interest rate of the newly issued notes	2.80%
Debt Instrument Description Of Variable Rate Basis	Senior notes USD 3,000 million (2), (3)
Senior Notes	$ 2,991	0
Subsidiary Senior Notes Due 2019 Two [Member]
Debt Instrument [Line Items]
The Effective average interest rate of the newly issued notes	1.70%
Debt Instrument Description Of Variable Rate Basis	Senior notes USD 2,000 million (2)
Senior Notes	$ 2,000	0
Subsidiary Senior Notes Due 2046 [Member]
Debt Instrument [Line Items]
The Effective average interest rate of the newly issued notes	4.10%
Debt Instrument Description Of Variable Rate Basis	Senior notes USD 2,000 million (2)
Senior Notes	$ 1,984	0
Subsidiary Senior Notes Due 2018 One [Member]
Debt Instrument [Line Items]
The Effective average interest rate of the newly issued notes	1.40%
Debt Instrument Description Of Variable Rate Basis	Senior notes USD 1,500 million (2)
Senior Notes	$ 1,498	0
Subsidiary Senior Notes Due 2016 One [Member]
Debt Instrument [Line Items]
The Effective average interest rate of the newly issued notes	2.40%
Debt Instrument Description Of Variable Rate Basis	Senior notes USD 950 million (4)
Senior Notes	$ 0	950
Subsidiary Senior Notes Due 2022 One [Member]
Debt Instrument [Line Items]
The Effective average interest rate of the newly issued notes	2.95%
Debt Instrument Description Of Variable Rate Basis	Senior notes USD 844 million (5)
Senior Notes	$ 868	843
Subsidiary Senior Notes Due 2036 One [Member]
Debt Instrument [Line Items]
The Effective average interest rate of the newly issued notes	6.15%
Debt Instrument Description Of Variable Rate Basis	Senior notes USD 789 million
Senior Notes	$ 781	780
Subsidiary Senior Notes Due 2020 Two [Member]
Debt Instrument [Line Items]
The Effective average interest rate of the newly issued notes	2.25%
Debt Instrument Description Of Variable Rate Basis	Senior notes USD 700 million
Senior Notes	$ 700	700
Subsidiary Senior Notes Due 2021 Two [Member]
Debt Instrument [Line Items]
The Effective average interest rate of the newly issued notes	3.65%
Debt Instrument Description Of Variable Rate Basis	Senior notes USD 613 million (5)
Senior Notes	$ 626	611
Subsidiary Senior Notes Due 2021 Tree [Member]
Debt Instrument [Line Items]
The Effective average interest rate of the newly issued notes	3.65%
Debt Instrument Description Of Variable Rate Basis	Senior notes USD 588 million
Senior Notes	$ 587	586
Subsidiary Senior Notes Due 2018 Two [Member]
Debt Instrument [Line Items]
The Effective average interest rate of the newly issued notes	1.50%
Debt Instrument Description Of Variable Rate Basis	Senior notes CHF 450 million
Senior Notes	$ 442	455
Subsidiary Senior Notes Due 2022 Two [Member]
Debt Instrument [Line Items]
The Effective average interest rate of the newly issued notes	0.50%
Debt Instrument Description Of Variable Rate Basis	Senior notes CHF 350 million (6)
Senior Notes	$ 344	0
SubsidiarySeniorNotesDue2025 [Member]
Debt Instrument [Line Items]
The Effective average interest rate of the newly issued notes	1.00%
Debt Instrument Description Of Variable Rate Basis	Senior notes CHF 350 million (6)
Senior Notes	$ 345	0
Subsidiary Senior Notes Due 2018 Four [Member]
Debt Instrument [Line Items]
The Effective average interest rate of the newly issued notes	0.13%
Debt Instrument Description Of Variable Rate Basis	Senior notes CHF 300 million (6)
Senior Notes	$ 295	0
Hedge Accounting Adjustments [Member]
Debt Instrument [Line Items]
Debt Instrument Description Of Variable Rate Basis	Fair value hedge accounting adjustments
Senior Notes	$ (2)	(10)
Long Credit Agreement 2018 [Member]
Debt Instrument [Line Items]
Debt Instrument Description Of Variable Rate Basis	Term loan USD 2.5 billion (7)
Term Loans	$ 2,500	0
Long Credit Agreement 2019 One [Member]
Debt Instrument [Line Items]
Debt Instrument Description Of Variable Rate Basis	Term loan USD 2.5 billion (7)
Term Loans	$ 2,500	0
Long Credit Agreement 2017 [Member]
Debt Instrument [Line Items]
Debt Instrument Description Of Variable Rate Basis	Term loan JPY 65 billion
Term Loans	$ 560	544
Long Credit Agreement 2019 [Member]
Debt Instrument [Line Items]
Term Loans	$ 299	290
Long Credit Agreement 2019 Two [Member]
Debt Instrument [Line Items]
Debt Instrument Description Of Variable Rate Basis	Term loan JPY 35 billion
Long Term Debentures 2018 [Member]
Debt Instrument [Line Items]
Debt Instrument Description Of Variable Rate Basis	Term loan JPY 35 billion
Term Loans	$ 299	290
Long Term Debentures 2016 [Member]
Debt Instrument [Line Items]
Debt Instrument Description Of Variable Rate Basis	Other loans JPY 5 billion
Term Loans	$ 0	39
Debentures 2018 [Member]
Debt Instrument [Line Items]
Debt Instrument Description Of Variable Rate Basis	Debentures USD 15 million
Long Term Debentures	$ 15	15
Other Debentures 2026 [Member]
Debt Instrument [Line Items]
Debt Instrument Description Of Variable Rate Basis	Other
Long Term Debentures	$ 9	$ 5

DEBT OBLIGATIONS (Details 2)

DEBT OBLIGATIONS (Details 2) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Debt Current Additional Information
Debt Instrument Maturity Date	Jan. 1, 2026
Debt Current
Revolving Credit Facility	$ 1,240	$ 0
Term loan GBP	629	0
Term loan JPY	68	0
Bank and financial institutions	15	75
Principal amount currently outstanding on the debt instruments	514	521
Current maturities of long term liabilities	810	989
Debt, Current, Total	$ 3,276	$ 1,585
Notes Payable To Banks [Member]
Debt Current Additional Information
Weighted average interest rate	5.79%
Convertible Debt [Member]
Debt Current Additional Information
Weighted average interest rate	0.25%

DEBT OBLIGATIONS (Details 3)

DEBT OBLIGATIONS (Details 3) € in Millions, $ in Millions, SFr in Billions	Dec. 31, 2016USD ($)	Nov. 30, 2016USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2016EUR (€)	Dec. 31, 2016EUR (€)	Dec. 31, 2016CHF (SFr)	Dec. 31, 2015USD ($)	Nov. 30, 2015USD ($)
Senior Notes And Loans [Line Items]
Repayments Of Debt			$ 1,300	€ 122
Debt Instrument Repurchased Face Amount	$ 1,200		1,200
Proceeds From Issuance Of Senior Long Term Debt | €				€ 2,000
Debt Instrument Maturity Date	Jan. 1, 2026
Line Of Credit Facility	$ 4,500		4,500					$ 3,000
Senior Notes	$ 27,265		$ 27,265				$ 8,178
Fixed Rate Senior Notes	2.40%		2.40%		2.40%	2.40%
Term Loan USD 2 Point 5 B	$ 2,500		$ 2,500
Long Term Debt Currency Portion USD	70.00%		70.00%		70.00%	70.00%
Long Term Debt Currency Portion EUR	24.00%		24.00%		24.00%	24.00%
Long Term Debt Currency Portion CHF	4.00%		4.00%		4.00%	4.00%
Long Term Debt Currency Portion JPY	2.00%		2.00%		2.00%	2.00%
Senior Notes Two Point Ninety Five Percent Maturing 2022 [Member]
Senior Notes And Loans [Line Items]
Debt Instrument Repurchased Face Amount	$ 844		$ 844
The Effective average interest rate of the newly issued notes	2.95%		2.95%		2.95%	2.95%
Debt Instrument Maturity Year.			2,022	2,022
Senior Notes Three Point Sixty Five Percent Maturing 2021 [Member]
Senior Notes And Loans [Line Items]
Debt Instrument Repurchased Face Amount	$ 450		$ 450
The Effective average interest rate of the newly issued notes	3.65%		3.65%		3.65%	3.65%
Debt Instrument Maturity Year.			2,021	2,021
Senior Notes One Point Twenty Five Percent Due March 2023 [Member]
Senior Notes And Loans [Line Items]
The Effective average interest rate of the newly issued notes	1.25%		1.25%		1.25%	1.25%
Proceeds From Issuance Of Senior Long Term Debt | €				€ 1,300
Debt Instrument Maturity Date			Mar. 31, 2023	Mar. 31, 2023
Senior Notes One Point Eight Seven Five Percent Due March 2027 [Member]
Senior Notes And Loans [Line Items]
The Effective average interest rate of the newly issued notes	1.88%		1.88%		1.88%	1.88%
Proceeds From Issuance Of Senior Long Term Debt | €				€ 700
Debt Instrument Maturity Date			Mar. 31, 2027	Mar. 31, 2027
Senior Notes Three Percent Maturing June 2015 [Member]
Senior Notes And Loans [Line Items]
Repayments Of Debt	$ 1,000
The Effective average interest rate of the newly issued notes	3.00%		3.00%		3.00%	3.00%
Debt Instrument Maturity Date			Jun. 30, 2015	Jun. 30, 2015
Swiss Franc [Member]
Senior Notes And Loans [Line Items]
LT Debt Cross Currency Swap	5.00%		5.00%		5.00%	5.00%
Netherland BV [Member]
Senior Notes And Loans [Line Items]
Repayments Of Debt		$ 950
Senior Notes		$ 15			€ 4	SFr 1
Senior Notes Until 2021 [Member]
Senior Notes And Loans [Line Items]
Senior Notes	$ 450		$ 450
Senior Notes Until 2022 [Member]
Senior Notes And Loans [Line Items]
Senior Notes	$ 844		$ 844
Senio Notes Rate	2.95%		2.95%		2.95%	2.95%
Senior Notes Until 2023 [Member]
Senior Notes And Loans [Line Items]
Senior Notes	$ 500		$ 500
Senio Notes Rate	2.80%		2.80%		2.80%	2.80%
Repaid In 2017 [Member]
Senior Notes And Loans [Line Items]
Term Loan USD Installments Rate	10.00%		10.00%		10.00%	10.00%
Repaid In 2019 [Member]
Senior Notes And Loans [Line Items]
Term Loan USD Installments Rate	20.00%		20.00%		20.00%	20.00%

CONVERTIBLE SENIOR DEBENTURES (

CONVERTIBLE SENIOR DEBENTURES (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Convertible Debt [Member]
Short Term Debt [Line Items]
Convertible Senior Debentures	$ 514	$ 521

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - Teva And Subsidiaries [Member]	12 Months Ended
	Dec. 31, 2016
Approximate number of product liability cases	4,000
Approximate number of pending cases	500
Parties To Tort Proceeding Cases Against Teva In Philadelphia Court	40
Approximate Number Of Plaintiffs Claiming Injuries	4,400

EQUITY (Details)

EQUITY (Details) $ / shares in Units, $ in Millions	Jan. 06, 2016USD ($)	Dec. 31, 2016USD ($)$ / sharesshares	Dec. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2014USD ($)$ / sharesshares	Dec. 31, 2016₪ / shares	Apr. 30, 2016shares	Dec. 31, 2015₪ / shares	Oct. 02, 2014USD ($)	Dec. 31, 2013USD ($)
Common stock
Purchase of treasury shares		$ 0	$ 439	$ 500
Treasury Stock Shares Acquired | shares		0	7,700,000	8,700,000
Stock Repurchase Program, Authorized Amount		$ 2,100						$ 3,000
Ordinary shares price per share | ₪ / shares					₪ 0.10		₪ 0.10
Ordinary shares issuance ADSs | shares		5,400,000
Proceeds from issuance of mandatory convertible preferred shares, net of issuance costs ADSs	$ 329	$ 329	$ 3,291
Aggregate Proceeds From Issuance Of Preferred Stock And Preference Stock	$ 3,620
Convertible Preferred Stock Terms Of Conversion		13.3333 and 16.0000
Convertible Preferred Stock Shares Issued Upon Conversion | shares		337,500
Preferred Stock Dividend Rate Per Dollar Amount | $ / shares		$ 1,000
Share Price | $ / shares		$ 62.5
Equivalent Share Units Approval For Grant | shares		77,000,000				33,300,000
Equivalent Share Units Remained Available For Future Awards | shares		56,100,000
Adss Offering | shares		54,000,000
Shares Transferred To Allergan | shares		100,300,000
Convertible Preferred Shares Rate		7.00%
Accrued Dividednds Payable		$ 11
Dividend Mandatory Convertible Preferred Shares | $ / shares		$ 71.56
Treasury stock
Treasury stock, value			$ (439)	$ (500)
Retained earnings
Dividends declared and paid | $ / shares		1.36	$ 1.36	$ 1.34
Additional dividends declared | $ / shares		$ 0.34
Other Comprehensive Income (Loss), Net Of Tax [Abstract]
Currency translation adjustment, net of tax		$ (2,769)	$ (2,384)	$ (1,283)					$ 151
Unrealized gain (loss) from available-for-sale securities, net of tax		(7)	312	(7)					5
Unrealized loss from cash flow hedge		(302)	175	40					(197)
Accumulated Other Comprehensive Income Loss Other Adjustments		(81)	(58)	(93)					(50)
Comprehensive income attributable to Teva		$ (3,159)	$ (1,955)	$ (1,343)					$ (91)

EQUITY (Details 1)

EQUITY (Details 1)	12 Months Ended
	Dec. 31, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingRights	The vesting period of the outstanding options, RSUs and PSUs is generally 1 to 4 years from the date of grant. The rights of the ordinary shares obtained from the exercise of options, RSUs or PSUs are identical to those of the other ordinary shares of the Company. The contractual term of these options is primarily for seven years in prior plans and ten years for options granted under the 2010 plan described above.

EQUITY (Details 2)

EQUITY (Details 2) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Roll Forward
Options granted WA fair value	$ 9.4	$ 10.9	$ 9.3
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions And Methodology Abstract
Dividend yield	2.60%	2.30%	2.90%
Expected volatility	25.00%	24.00%	25.00%
Risk-free interest rate (in dollar terms)	1.40%	1.80%	1.90%
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1	5 years 12 months 31 days	5 years 12 months 31 days	6 years 12 months 31 days
Share Based Compensation Arrangement By Share Based Payment Award Options Additional Disclosures Abstract
Closing stock price	$ 36.25
The total intrinsic value of options exercised during the years	$ 5	$ 120	$ 74
Average market price of Teva's ordinary shares during the year	$ 50.96	$ 61.66	$ 51.57
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested [Roll Forward]
Employee Service Share Based Compensation Nonvested Award Total Compensation Cost Not Yet Recognized Period For Recognition Stock Option	1.9
Stock Options Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Roll Forward
Balance outstanding at beginning of year	25,233	26,733	32,481
Granted	10,895	7,655	6,935
Exercise Of Options By Employees And Vested RSUs, shares	(766)	(8,127)	(11,423)
Forfeited	1,382	1,028	1,260
Expired.	(1,191)
Balance outstanding at end of year	32,789	25,233	26,733
Weighted average exercise price	$ 50.71	$ 49.69	$ 45.91	$ 45.05
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions And Methodology Abstract
Options exercisable at end of year	14,468	11,299	12,632
Share Based Compensation Arrangement By Share Based Payment Award Options Additional Disclosures Abstract
Weighted average exercise price	$ 46.06	$ 44.67	$ 47.16
The total unrecognized compensation cost before tax on employee stock options and RSUs	$ 130
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested [Roll Forward]
Granted	$ 53.21	59.82	48.60
Vested	44.24	46.88	45.05
Forfeited	54.09	$ 48.96	$ 46.11
Expired	$ 52.79
The total unrecognized compensation cost before tax on employee stock options and RSUs	$ 130
Employee Service Share Based Compensation Aggregate Disclosures Abstract
Restricted stock units RSUs	56	$ 62	$ 47
Restricted Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award Options Additional Disclosures Abstract
The total unrecognized compensation cost before tax on employee stock options and RSUs	$ 142
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested [Roll Forward]
RSUs outstanding at beginning of year	2,551	2,466	2,512
Granted	3,193	1,519	1,342
Vested	830	1,112	1,146
Forfeited	278	322	242
RSUs outstanding at end of year	4,636	2,551	2,466
Weighted-average grant date fair value per share - RSUs at beginning of year	$ 51.43	$ 43.05	$ 40.48
Granted	40.78	56.75	46.09
Vested	45.79	41.04	41.55
Forfeited	46.08	48.27	40.05
Weighted-average grant date fair value per share - RSUs at end of year	$ 45.15	$ 51.43	$ 43.05
The total unrecognized compensation cost before tax on employee stock options and RSUs	$ 142
Employee Service Share Based Compensation Aggregate Disclosures Abstract
Restricted stock units RSUs	66	$ 55	$ 38
Omnibus Long Term Share Incentive Plan [Member]
Employee Service Share Based Compensation Aggregate Disclosures Abstract
Restricted stock units RSUs	122	117	85
Tax effect on stock-based compensation expense	26	19	14
Net effect	$ 96	$ 98	$ 71

EQUITY (Details 3)

EQUITY (Details 3) $ / shares in Units, shares in Thousands	Dec. 31, 2016USD ($)$ / sharesshares
Number of ordinary shares issuable upon exercise of outstanding options
Number of shares | shares	32,789
Weighted average exercise price | $ / shares	$ 50.71
Weighted average remaining life	7.40
Aggregate intrinsic value	$ 0
Number of ordinary shares issuable upon exercise of vested options
Number of shares | shares	14,468
Weighted average exercise price | $ / shares	$ 46.06
Weighted average remaining life	5.81
Aggregate intrinsic value	$ 0
Exercise Price Range One [Member]
Number of ordinary shares issuable upon exercise of outstanding options
Number of shares | shares	21
Weighted average exercise price | $ / shares	$ 17.83
Weighted average remaining life	6.33
Aggregate intrinsic value	$ 0
Number of ordinary shares issuable upon exercise of vested options
Number of shares | shares	283
Weighted average exercise price | $ / shares	$ 58.33
Weighted average remaining life	3.61
Aggregate intrinsic value	$ 0
Exercise Price Range Two [Member]
Number of ordinary shares issuable upon exercise of outstanding options
Number of shares | shares	3,338
Weighted average exercise price | $ / shares	$ 38.55
Weighted average remaining life	6.32
Aggregate intrinsic value	$ 0
Number of ordinary shares issuable upon exercise of vested options
Weighted average exercise price | $ / shares	$ 18.02
Weighted average remaining life	6.13
Exercise Price Range Three [Member]
Number of ordinary shares issuable upon exercise of outstanding options
Number of shares | shares	4,483
Weighted average exercise price | $ / shares	$ 42.02
Weighted average remaining life	5.26
Aggregate intrinsic value	$ 0
Number of ordinary shares issuable upon exercise of vested options
Number of shares | shares	528
Weighted average exercise price | $ / shares	$ 50.55
Weighted average remaining life	4.28
Aggregate intrinsic value	$ 0
Exercise Price Range Four [Member]
Number of ordinary shares issuable upon exercise of outstanding options
Number of shares | shares	7,179
Weighted average exercise price | $ / shares	$ 48.54
Weighted average remaining life	6.33
Aggregate intrinsic value	$ 0
Exercise Price Range Five [Member]
Number of ordinary shares issuable upon exercise of outstanding options
Number of shares | shares	9,372
Weighted average exercise price | $ / shares	$ 53.15
Weighted average remaining life	8.99
Aggregate intrinsic value	$ 0
Number of ordinary shares issuable upon exercise of vested options
Number of shares | shares	3,013
Weighted average exercise price | $ / shares	$ 38.66
Weighted average remaining life	6.06
Aggregate intrinsic value	$ 0
Exercise Price Range Six [Member]
Number of ordinary shares issuable upon exercise of outstanding options
Number of shares | shares	2,414
Weighted average exercise price | $ / shares	$ 57.02
Weighted average remaining life	8.01
Aggregate intrinsic value	$ 0
Number of ordinary shares issuable upon exercise of vested options
Number of shares | shares	4,133
Weighted average exercise price | $ / shares	$ 42
Weighted average remaining life	5.04
Aggregate intrinsic value	$ 0
Exercise Price Range Seven [Member]
Number of ordinary shares issuable upon exercise of outstanding options
Number of shares | shares	5,982
Weighted average exercise price | $ / shares	$ 60.37
Weighted average remaining life	8.13
Aggregate intrinsic value	$ 0
Number of ordinary shares issuable upon exercise of vested options
Number of shares | shares	5,000
Weighted average exercise price | $ / shares	$ 48.44
Weighted average remaining life	5.94
Aggregate intrinsic value	$ 0
Exercise Price Range Eight [Member]
Number of ordinary shares issuable upon exercise of vested options
Number of shares | shares	1,505
Weighted average exercise price | $ / shares	$ 60.35
Weighted average remaining life	7.90
Aggregate intrinsic value	$ 0

EQUITY (Details 4)

EQUITY (Details 4) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Currency translation adjustment [Abstract]
Other comprehensive income (loss) before reclassifications, currency translation adjustments	$ (355)	$ (1,131)	$ (1,429)
Amounts reclassified from accumulated other comprehensive loss before tax, currency translation adjustments	3	24	(5)
Net other comprehensive income (loss) before tax, currency translation adjustments	(352)	(1,107)	(1,434)
Income tax related to items of other comprehensive income (loss), currency translation adjustments	(33)	6	0
Net other comprehensive income (loss) after tax, currency translation adjustment	(385)	(1,101)	(1,434)
Unrealized gain (loss) from available-for-sale securities
Other comprehensive income (loss) before reclassifications, available-for-sale-securities	(456)	(413)	(12)
Gains on marketable securities, included in financial expenses - net	140	737	2
Net other comprehensive income (loss) before tax, available-for-sale-securities	(316)	324	(10)
Income tax related to items of other comprehensive income (loss), available-for-sale-securities	(3)	(5)	(2)
Net other comprehensive income (loss) after tax, available-for-sale-securities	(319)	319	(12)
Unrealized gain (loss) on derivative financial instruments
Other comprehensive income (loss) before reclassifications, cash flow hedges	(491)	137	240
Loss on derivative financial instruments, included in net revenues	14	(2)	(3)
Net other comprehensive income (loss) before tax, cash flow hedges	(477)	135	237
Income tax related to items of other comprehensive income (loss), cash flow hedges		0	0
Net other comprehensive income (loss) after tax, cash flow hedges	(477)	135	237
Defined benefit plan items
Other comprehensive income (loss) before reclassifications, defined benefit plan	(26)	33	(55)
Loss on defined benefit plans, included in various statement of income items	6	(4)	2
Net other comprehensive income (loss) before tax, defined benefit plan	32	(37)	57
Income tax related to items of other comprehensive income (loss), defined benefit plan	(9)	2	(14)
Net other comprehensive income (loss) after tax, defined benefit plan	23	(35)	43
Other comprehensive income (loss) before reclassifications	(1,328)	(1,374)	(1,256)
Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
Amounts reclassified from accumulated other comprehensive loss before tax, currency translation adjustments	3	24	(5)
Gains on marketable securities, included in financial expenses - net	140	737	2
Loss on derivative financial instruments, included in net revenues	14	(2)	(3)
Loss on defined benefit plans, included in various statement of income items	6	(4)	2
Amounts reclassified from accumulated other comprehensive loss before tax	151	763	(8)
Net other comprehensive income (loss) before tax	(1,177)	(611)	(1,264)
Income tax related to items of other comprehensive income (loss)	27	1	(12)
Net other comprehensive income (loss) after tax	$ (1,204)	$ (612)	$ (1,252)

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
The Company and its Israeli subsidiaries				$ 1,516	$ 1,932	$ 2,139
Non-Israeli subsidiaries				(692)	420	1,499
Income before income taxes				824	2,352	3,638
UTP Due To NOLs ST		$ 108			108
UTPDueToNOLsLT	$ 23	70		23	70
Amendment Payment69	577			577
Exempt Income	9,400			9,400
Income Tax Expense Benefit Continuing Operations By Jurisdiction
In Israel				209	149	147
Outside Israel				312	485	444
Income Tax Expense (Benefit), Total				521	634	591
Federal Income Tax Expense Benefit Continuing Operations
Current				481	298	879
Deferred Income Tax Expense Benefit				40	336	(288)
Income taxes				$ 521	$ 634	$ 591
Effective Income Tax Rate Reconciliation
Statutory tax rate in Israel				25.00%	26.50%	26.50%
Short-term deferred tax assets (liabilities)-net:
Inventory related	0	382		$ 0	$ 382
Sales reserves and allowances	0	254		0	254
Provisions for employee-related obligations, current	0	45		0	45
Carryforward losses and deductions, current	0	60		0	60
Provision for legal settlements	0	89		0	89
Other	0	64		0	64
Short-term deferred tax assets (liabilities)-gross	0	894		0	894
Valuation allowance-in respect of carryforward losses and deductions that may not be utilized	0	(190)		0	(190)
DeferredTaxAssetsLiabilitiesNetCurrent	0	704		0	704
Long-term deferred tax assets (liabilities)-net:
Inventory Related	344			344
Sales Reserves And Allowance	311			311
Provision For Legal Settlements	232			232
Deferred Tax Liabilities Property Plant And Equipment	(312)	(207)		(312)	(207)
Intangible assets	(5,569)	(1,900)		(5,569)	(1,900)
Provisions for employee related obligations, noncurrent	108	65		108	65
Carryforward losses and deductions, noncurrent	1,922	989		1,922	989
Other	(163)	(125)		(163)	(125)
Long-term deferred tax assets (liabilities)-gross	(2,801)	(928)		(2,801)	(928)
Deferred Tax Assets Valuation Allowance Noncurrent	(1,689)	(570)		(1,689)	(570)
Long-term deferred tax assets (liabilities)-net	(4,490)	(1,498)		(4,490)	(1,498)
Deferred tax assets (liabilities) - net	4,490	794		4,490	794
Reconciliation Of Unrecognized Tax Benefits Excluding Amounts Pertaining To Examined Tax Returns Roll Forward
Balance at the beginning of the year				648	713	$ 665
Increase related to prior year tax positions, net				23	(6)	38
Increase related to current year tax positions				71	43	51
Tax assessments settlements				(103)	(99)	(38)
Acquisition				101	0	0
Other				(6)	(3)	(3)
Balance at the end of the year	734	648	$ 713	734	648	713
Future Federal Statutory Tax Rate
Unrecognized Tax Benefits Income Tax Penalties And Interest Expense	(18)	14	12
Balance of accrued potential penalties and interest in unrecognized tax benefits	83	101	87	83	101	87
Income Tax Contingency [Line Items]
Unrecognized Tax Benefits Income Tax Penalties And Interest Expense	$ (18)	$ 14	$ 12
Amount Of Tax Exempt Profit Earned By Company From Approved Enterprises
Tax Payable Refer To Distributed Dividends
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Income before income taxes				$ 824	$ 2,352	$ 3,638
Statutory tax rate in Israel				25.00%	26.50%	26.50%
Theoretical provision for income taxes				$ 206	$ 623	$ 964
Increase (decrease) in effective tax rate due to:
IncomeTaxReconciliationChangeInEnactedTaxRate				(212)	(337)	(524)
IncomeTaxReconciliationOtherAdjustments				0	0	0
IncomeTaxReconciliationForeignIncomeTaxRateDifferential				546	447	88
IncomeTaxReconciliationTaxContingencies				(19)	(99)	63
Income Tax Expense (Benefit), Total				$ 521	$ 634	591
Year 2007 [Member]
Future Federal Statutory Tax Rate
Unrecognized Tax Benefits Income Tax Penalties And Interest Expense						213
Income Tax Contingency [Line Items]
Unrecognized Tax Benefits Income Tax Penalties And Interest Expense						$ 213

INCOME TAXESs (Details 1)

INCOME TAXESs (Details 1) $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)
Tax Carryforwards And Deductions Expiration Period One [Member]
Other Tax Carryforward [Line Items]
First year in period	Jan. 1, 2017
Last year In Period	Dec. 31, 2019
Tax effect of unspecified carryforward losses and deductions	$ 163
Tax Carryforwards And Deductions Expiration Period Two [Member]
Other Tax Carryforward [Line Items]
First year in period	Jan. 1, 2020
Last year In Period	Dec. 31, 2026
Tax effect of unspecified carryforward losses and deductions	$ 551
Tax Carryforwards And Deductions No Expiration [Member]
Other Tax Carryforward [Line Items]
Tax effect of unspecified carryforward losses and deductions	176
Tax Carryforwards And Deductions Indefinite [Member]
Other Tax Carryforward [Line Items]
Tax effect of unspecified carryforward losses and deductions	$ 1,055

INCOME TAXES (Details 2)

INCOME TAXES (Details 2) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Deferred Taxes By Report [Line Items]
Deferred tax assets (liabilities) - net	$ 4,490	$ 794
Prepaid Expenses And Other Current Assets [Member]
Deferred Taxes By Report [Line Items]
Deferred tax assets (liabilities) - net	0	735
Other Current Liabilities [Member]
Deferred Taxes By Report [Line Items]
Deferred tax assets (liabilities) - net	0	31
Other Assets Deferred Taxes And Deferred Charges [Member]
Deferred Taxes By Report [Line Items]
Deferred tax assets (liabilities) - net	725	250
Deferred income taxes [Member]
Deferred Taxes By Report [Line Items]
Deferred tax assets (liabilities) - net	$ 5,215	$ 1,748

DERIVATIVE INSTRUMENTS AND HE81

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Sep. 30, 2016
Derivative [Line Items]
DICOM Rate	650
DIPRORate	10
Teva CENCOEX Rate	6.3
Teva Venezuela Finance Loss	$ 500		$ 246
Teva Venezuela Finance Exposure	$ 242
Venezuela Blended Exchange Rate	273
Venezuela Devaluation In Cogs	$ 133
Settlement Gain Position	41
Interest Rate Swap Gain	$ 2
Revenues Other Than USD	44.00%
Proceeds from Accounts Receivable Securitization	$ 3,784	$ 3,447
Senior Notes Due 2022 [Member]
Derivative [Line Items]
Previously Hedge Debt Rate	2.95%
Senior Notes Due 2021 [Member]
Derivative [Line Items]
Previously Hedge Debt Rate	3.65%
Notional Amount Hedge Debt	$ 450
Senior Notes Due 2023 Two[Member]
Derivative [Line Items]
Previously Hedge Debt Rate	2.80%
Notional Amount Hedge Debt	$ 500

DERIVATIVE INSTRUMENTS AND HE82

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details 1) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Swap [Member] | Long Term Investments And Receivables [Member] | Designated As Hedging Instrument [Member] | Cash Flow Hedging [Member]
Derivative Asset, Fair Value, Net [Abstract]
Derivative Fair Value Of Derivative Asset		$ 0
Swap [Member] | Other Current Liabilities [Member] | Designated As Hedging Instrument [Member] | Fair Value Hedging [Member]
Derivative Liability, Fair Value, Net [Abstract]
Derivative Fair Value Of Derivative Liability	(2)	(11)
Swap [Member] | Other Current Liabilities [Member] | Designated As Hedging Instrument [Member] | Cash Flow Hedging [Member]
Derivative Liability, Fair Value, Net [Abstract]
Derivative Fair Value Of Derivative Liability		0
Swap [Member] | Accounts Payable [Member] | Designated As Hedging Instrument [Member] | Cash Flow Hedging [Member]
Derivative Asset, Fair Value, Net [Abstract]
Derivative Fair Value Of Derivative Asset	88	78
Foreign Exchange Contract [Member] | Deferred Taxes And Other Current Assets [Member] | Designated As Hedging Instrument [Member] | Cash Flow Hedging [Member]
Derivative Asset, Fair Value, Net [Abstract]
Derivative Fair Value Of Derivative Asset		0
Foreign Exchange Contract [Member] | Deferred Taxes And Other Current Assets [Member] | Nondesignated [Member]
Derivative Asset, Fair Value, Net [Abstract]
Derivative Fair Value Of Derivative Asset	10	25
Foreign Exchange Contract [Member] | Accounts Payable [Member] | Designated As Hedging Instrument [Member] | Cash Flow Hedging [Member]
Derivative Liability, Fair Value, Net [Abstract]
Derivative Fair Value Of Derivative Liability		0
Foreign Exchange Contract [Member] | Accounts Payable [Member] | Nondesignated [Member]
Derivative Liability, Fair Value, Net [Abstract]
Derivative Fair Value Of Derivative Liability	(17)	(11)
Interest Rate Swap [Member] | Long Term Investments And Receivables [Member] | Designated As Hedging Instrument [Member] | Cash Flow Hedging [Member]
Derivative Asset, Fair Value, Net [Abstract]
Derivative Fair Value Of Derivative Asset		26
Interest Rate Swap [Member] | Accounts Payable [Member] | Designated As Hedging Instrument [Member] | Fair Value Hedging [Member]
Derivative Asset, Fair Value, Net [Abstract]
Derivative Fair Value Of Derivative Asset		1
Interest Rate Swap [Member] | Accounts Payable [Member] | Designated As Hedging Instrument [Member] | Cash Flow Hedging [Member]
Derivative Liability, Fair Value, Net [Abstract]
Derivative Fair Value Of Derivative Liability		(10)
Cross Currency Interest Rate Contract [Member] | Accounts Payable [Member] | Designated As Hedging Instrument [Member] | Cash Flow Hedging [Member]
Derivative Liability, Fair Value, Net [Abstract]
Derivative Fair Value Of Derivative Liability		$ (5)

DERIVATIVE INSTRUMENTS AND HE83

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details 2) - Financial Expenses Net [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Foreign Exchange Contract [Member]
Derivative Instruments Gain Loss [Line Items]
Gain (loss) recognized in earnings for the period on derivative contracts	$ (7)	$ (26)	$ 85
Interst Rate And Cross Currency Swap [Member]
Derivative Instruments Gain Loss [Line Items]
Gain (loss) recognized in earnings for the period on derivative contracts	$ 15	$ 27	$ 41

DERIVATIVE INSTRUMENTS AND HE84

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details 3) - Designated As Hedging Instrument [Member] - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Interest Rate Swap [Member] | Fair Value Hedging [Member]
Derivative [Line Items]
Derivative Notional Amount	$ 500	$ 1,294
Interest Rate Swap [Member] | Cash Flow Hedging [Member]
Derivative [Line Items]
Derivative Notional Amount	0	3,500
Cross Currency Interest Rate Contract [Member] | Cash Flow Hedging [Member]
Derivative [Line Items]
Derivative Notional Amount	588	588
Treasury Lock [Member] | Cash Flow Hedging [Member]
Derivative [Line Items]
Derivative Notional Amount	$ 0	$ 500

DERIVATIVE INSTRUMENTS AND HE85

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details 4) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Derivative Instruments and Hedging Activities [Absract]
Sold receivables at the beginning of the year	$ 445	$ 585
Proceeds from sale of receivables	3,784	3,447
Cash collections (remitted to the owner of the receivables)	3,660	3,532
Effect of currency exchange rate changes	52	(55)
Sold receivables at the end of the year	621	445
Cash Flow Hedge Of Anticipated Future Debt Issuance	1,500	$ 3,750
Teva Other Comprehensive Loss	$ 493

FINANCIAL EXPENSES NET (Details

FINANCIAL EXPENSES NET (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Financial Expenses Net [Abstract]
Venezuela Devaluation	$ (746)	$ 0
Income from investments	51	34	$ 24
Interest expense and other bank charges	(546)	(270)	(300)
Losses from hedging transactions in connection with the ratiopharm acquisition	0	0	0
Foreign exchange (gains) losses - net	49	9	(30)
Other Than Temporary Impairment of Securities	(136)	(631)	(6)
Gain From Interest Rate Swap Transaction	0		0
Other- mainly debt tender offer and termination of related swap agreements	(2)	(142)	(1)
Financial expenses-net	$ (1,330)	$ (1,000)	$ (313)

OTHER EXPENSES (Details)

OTHER EXPENSES (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Impairment [Line Items]
Impairment of intangible assets		$ 589	$ 265	$ 224
Impairment charge during the year on property, plant and equipment		149	96	163
Business Combination Contingent Consideration Arrangements Change In Amount O fContingent Consideration Liability1		83	399	(20)
Impairment of long-lived assets		746	361	387
Contingent Consideration		(83)	(399)	20
Acquisition costs		261	221	13
Other expenses		(636)	(33)	24
Restructuring		245	183	246
Total		699	1,131	650
Pro-Rata Currency Translation Adjustments		24
Loss Of Associated Companies Net		8	121	$ 5
Impairment Net Of Tax		71
Product Rights Impairment		83
Pp And E Impairment		80
Bendeka Contingent		180
Reversal Of Contingent Considerations		122
Mylan [Member]
Impairment [Line Items]
Business Combination Contingent Consideration Arrangements Change In Amount O fContingent Consideration Liability1	$ 105
Contingent Consideration	$ (105)
Mesoblast [Member]
Impairment [Line Items]
OtherAssetImpairmentCharges			$ 171
Zecuity [Member]
Impairment [Line Items]
Impairment of Intangible Assets, Finite-lived		248
Revascor [Member]
Impairment [Line Items]
Impairment of Intangible Assets, Finite-lived		258
Various Teva Markets [Member]
Impairment [Line Items]
Impairment of Intangible Assets, Finite-lived		$ 58

LEGAL SETTLEMENTS (Details)

LEGAL SETTLEMENTS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Impairment Of Long Lived Assets And Contingent Consideration [Abstract]
Legal Settlements Acquisition And Restructuring And Impairment	$ 899	$ 631	$ (111)
Accrued Amount Legal Sttlement	1,335	$ 256
Fcpa Settlements	519
Ciprofloxacin Settlement	$ 225

SEGMENTS (Details)

SEGMENTS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Revenues	$ 21,903	$ 19,652	$ 20,272
Gross profit	11,859	11,356	11,056
Research and development expenses	2,111	1,525	1,488
Selling and marketing expenses	3,860	3,478	3,861
Segments Profitability	2,154	3,352	3,951
Segments [Member]
Segment Reporting Information [Line Items]
Segments Profitability	7,971	7,286	6,941
Generics [Member]
Segment Reporting Information [Line Items]
Revenues	11,990	10,540	10,810
Gross profit	5,696	4,903	4,601
Research and development expenses	659	519	521
Selling and marketing expenses	1,727	1,459	1,734
Segments Profitability	3,310	2,925	2,346
Specialty [Member]
Segment Reporting Information [Line Items]
Revenues	8,674	8,338	8,560
Gross profit	7,558	7,200	7,457
Research and development expenses	998	918	872
Selling and marketing expenses	1,899	1,921	1,990
Segments Profitability	$ 4,661	$ 4,361	$ 4,595

SEGMENTS (Details 1)

SEGMENTS (Details 1) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segments Profitability	$ 2,154	$ 3,352	$ 3,951
Amounts not allocated to segments [Abstract]
Depreciation and amortization	1,524	1,308	1,508
General and administrative expenses	1,236	1,239	1,217
Impairments Restructuring And Others	699	1,131	650
Inventory Step Up	381	0	0
Legal Settlements And Loss Contingencies	899	631	(111)
Financial expenses - net	(1,330)	(1,000)	(313)
Income before income taxes	824	2,352	3,638
Segments and Other activities [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segments Profitability	8,039	7,361	6,987
Segments [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segments Profitability	7,971	7,286	6,941
Generics [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segments Profitability	3,310	2,925	2,346
Specialty [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segments Profitability	4,661	4,361	4,595
All Other Segments [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segments Profitability	68	75	46
Segment Reconciling Items [Member]
Amounts not allocated to segments [Abstract]
Depreciation and amortization	993	838	1,036
General and administrative expenses	1,236	1,239	1,217
Impairments Restructuring And Others	699	1,131	650
Goodwil Impairments	900	0	0
Inventory Step Up	383	0	0
Purchase Of Research And Development In Process	423	21	0
Costs Related To Regulatory Actions Taken In Facilities	153	36	75
Legal Settlements And Loss Contingencies	899	631	(111)
Otehr Unallocated Amounts	$ 199	$ 113	$ 169

SEGMENTS (Details 2)

SEGMENTS (Details 2) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales by geographic area	$ 21,903	$ 19,652	$ 20,272
Information About Major Customers And Products [Abstract]
The net sales to the Companys largest customer as a percentage of total net sales	19.00%	20.00%	17.00%
Percentage Of Total Receivables For Largest Customer	36.00%	30.00%
Percentage of Total Revenue for Another Customer	15.00%	20.00%	18.00%
Generics [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales by geographic area	$ 11,990	$ 10,540	$ 10,810
Branded [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales by geographic area	8,674	8,338	8,560
Other Products [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales by geographic area	1,239	774	902
Us Group One [Member] | Generics [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales by geographic area	4,556	4,795	4,516
Us Group One [Member] | Branded [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales by geographic area	6,724	6,442	6,110
Us Group One [Member] | Other Products [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales by geographic area	369	12	8
Europe Group Two [Member] | Generics [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales by geographic area	3,563	3,146	3,638
Europe Group Two [Member] | Branded [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales by geographic area	1,598	1,518	1,898
Europe Group Two [Member] | Other Products [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales by geographic area	248	226	287
Rest Of The World [Member] | Generics [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales by geographic area	3,871	2,599	2,656
Rest Of The World [Member] | Branded [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales by geographic area	352	378	552
Rest Of The World [Member] | Other Products [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales by geographic area	$ 622	$ 536	$ 607

SEGMENTS (Details 3)

SEGMENTS (Details 3) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Product Information [Line Items]
Net revenues	$ 21,903	$ 19,652	$ 20,272
Branded CNS [Member]
Product Information [Line Items]
Net revenues	5,283	5,213	5,575
Branded Respiratory Products [Member]
Product Information [Line Items]
Net revenues	1,274	1,129	957
Branded Womens Health Products [Member]
Product Information [Line Items]
Net revenues	458	461	504
Branded Oncology Products [Member]
Product Information [Line Items]
Net revenues	1,139	1,201	1,180
Other Branded Products [Member]
Product Information [Line Items]
Net revenues	520	334	344
Branded C N S Copaxone [Member]
Product Information [Line Items]
Net revenues	4,223	4,023	4,237
Branded C N S Azilect [Member]
Product Information [Line Items]
Net revenues	410	384	428
Branded C N S Nuvigil [Member]
Product Information [Line Items]
Net revenues	200	373	388
Branded Respiratory Proair [Member]
Product Information [Line Items]
Net revenues	565	549	478
Branded Respiratory Qvar [Member]
Product Information [Line Items]
Net revenues	462	392	286
Branded Oncology Treanda and Bendeka [Member]
Product Information [Line Items]
Net revenues	661	741	767
Branded [Member]
Product Information [Line Items]
Net revenues	$ 8,674	$ 8,338	$ 8,560

SEGMENTS (Details 4)

SEGMENTS (Details 4) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Revenues From External Customers And Long Lived Assets [Line Items]
Property, plant and equipment, net	$ 8,073	$ 6,544
Israel [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Property, plant and equipment, net	2,323	2,159
United States [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Property, plant and equipment, net	1,135	629
Croatia [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Property, plant and equipment, net	542	539
Hungary [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Property, plant and equipment, net	427	415
Germany [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Property, plant and equipment, net	343	313
Japan [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Property, plant and equipment, net	422	506
Other Countries [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Property, plant and equipment, net	$ 2,881	$ 1,983

SEGMENTS (Details 5)

SEGMENTS (Details 5) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting [Abstract]
CopaxoneUS revenues	$ 3,500
Percentage Of CopaxoneRevenues Of Total US	30.00%
Copaxone Outside US Revenues	$ 744
Percentage Of Copaxone Revenues Of Total Non US	7.00%
Profitability Of MS As A Percentage Of Copaxone Revenues	81.00%	76.70%	75.10%

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) shares in Millions, $ in Millions	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Net Income And Weighted Average Number Of Shares Used In Computation Of Basic And Diluted Earnings Per Share [Abstract]
Interest expense on convertible senior debentures, and issuance costs, net of tax benefits				$ 0		$ 0
Net income used for the computation of diluted earnings per share				$ 68	$ 1,573	$ 3,055
Weighted average number of shares used in the computation of basic earnings per share				955	855	853
Additional shares from the assumed exercise of employee stock options and unvested RSU's				3	5	3
Weighted average number of additional shares issued upon the assumed conversion of convertible senior debentures				3	4	2
Weighted average number of shares used in the computation of diluted earnings per share	4	1	1	961	864	858
Net income attributable to ordinary shareholders				$ 68	$ 1,573	$ 3,055
Ordinary And Special Shares Outstanding [Abstract]
Ordinary shares - issued	1,123	1,016		1,123	1,016
Treasury, shares	108	108		108	108
Weighted Average Of Mandatory Convertible Preferred Shares	59			59
Accrued dividends on preferred shares.				$ 261	$ 15	$ 0

SCHEDULE II VALUATION AND QUA96

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Allowance For Doubtful Accounts Current Member
Valuation And Qualifying Accounts Disclosure [Line Items]
Charged to costs and expenses	$ 5	$ 18	$ 22
Charged to other accounts	61	(6)	(18)
Deductions	(21)	(15)	(42)
ValuationAllowancesAndReservesBalance	191	146	149	$ 187
Valuation Allowance Tax Carryforward Losses And Deductions [Member]
Valuation And Qualifying Accounts Disclosure [Line Items]
Charged to costs and expenses	135	249	128
Charged to other accounts	1,137	1	0
Deductions	(342)	(161)	(248)
ValuationAllowancesAndReservesBalance	$ 1,690	$ 760	$ 671	$ 791

Uncategorized Items - teva-2016

Label	Element	Value
Operating Leases Future Minimum Payments Due Current	us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent	$ 165,273,000
Compensatory Damages For The State of Illonois	teva_CompensatoryDamagesForStateOfIllonois	100,000,000
Andro Gel Annual Sales	teva_AndroGelAnnualSales	1,050,000,000
Operating Leases Future Minimum Payments Due In Two Years	us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears	144,400,000
Opana Net Sales	teva_OpanaNetSales	299,000,000
Punitive Damages	teva_PunitiveDamages	17,900,000
Nexium Settlement Payment	teva_NexiumSettlementPayment	24,000,000
Lease And Rental Expense	us-gaap_LeaseAndRentalExpense	164,000,000
Lease And Rental Expense	us-gaap_LeaseAndRentalExpense	122,000,000
Lease And Rental Expense	us-gaap_LeaseAndRentalExpense	153,000,000
Aggregated Contingent Payments	teva_AggregatedContingentPayments	1,100,000,000
Annual Sales of Niaspan	teva_AnnualSalesOfNiaspan	416,000,000
Annual Sales of Niaspan	teva_AnnualSalesOfNiaspan	1,100,000,000
Fcpa Settlement	teva_FcpaSettlement	519,000,000
Annual Sales Of Androgel At The Time Of Sttlement	teva_AnnualSalesOfAndrogelAtTimeOfSttlement	350,000,000
Annual Sales of Effexor	teva_AnnualSalesOfEffexor	2,600,000,000
Annual Sales Of Actos	teva_AnnualSalesOfActos	3,700,000,000
Annual Sales Of Actos	teva_AnnualSalesOfActos	2,800,000,000
Royalty Expense	us-gaap_RoyaltyExpense	814,000,000
Royalty Expense	us-gaap_RoyaltyExpense	911,000,000
Royalty Expense	us-gaap_RoyaltyExpense	987,000,000
Ciprofloxacin Plaintiffs Proposed Settlement With Bayer	teva_CiprofloxacinPlaintiffsProposedSettlementWithBayer	500,000,000
Ciprofloxacin Plaintiffs Proposed Settlement With Bayer	teva_CiprofloxacinPlaintiffsProposedSettlementWithBayer	74,000,000
Annual sales of Provigil	teva_AnnualSalesOfProvigil	500,000,000
Annual sales of Provigil	teva_AnnualSalesOfProvigil	1,000,000,000
Monetary Relief Payment Settelement Fund	teva_MonetaryReliefPaymentSettelementFund	1,200,000,000
FTC Settelement Charge	teva_FTCSettelementCharge	398,000,000
Operating Leases Future Minimum Payments Due Thereafter	us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter	135,000,000
Coreg Net Sales	teva_CoregNetSales	1,600,000,000
Annual Sales Of Intuniv	teva_AnnualSalesOfIntuniv	335,000,000
Annual Sales Of Intuniv	teva_AnnualSalesOfIntuniv	327,000,000
Annual Sales of Lamictal	teva_AnnualSalesOfLamictal	950,000,000
Annual Sales of Lamictal	teva_AnnualSalesOfLamictal	2,300,000,000
Annual Sales Of Abilify	teva_AnnualSalesOfAbilify	7,800,000,000
Annual Sales of Solodyn	teva_AnnualSalesOfSolodyn	380,000,000
Annual Sales of Solodyn	teva_AnnualSalesOfSolodyn	765,000,000
Compensatory Damages And Penalties	teva_CompensatoryDamagesAndPenalties	12,400,000
Annual Sales Of Androgel	teva_AnnualSalesOfAndrogel	140,000,000
Annual Sales Of Namebda	teva_AnnualSalesOfNamebda	1,400,000,000
Annual Sales Of Namebda	teva_AnnualSalesOfNamebda	1,100,000,000
Annual Sales Of Lidoderm	teva_AnnualSalesOfLidoderm	1,200,000,000
Annual Sales Of Lidoderm	teva_AnnualSalesOfLidoderm	1,400,000,000
Operating Leases Future Minimum Payments Due In Five Years	us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears	70,385,000
Operating Leases Future Minimum Payments Due In Three Years	us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears	130,622,000
Rugby Stettlement	teva_RugbyStettlement	100,000,000
Annual Sales Of Actoplus	teva_AnnualSalesOfActoplus	500,000,000
Annual Sales Of Actoplus	teva_AnnualSalesOfActoplus	430,000,000
Modafinil Payment	teva_ModafinilPayment	1,200,000,000
Annual Sales Of Aggrenox	teva_AnnualSalesOfAggrenox	340,000,000
Annual Sales Of Aggrenox	teva_AnnualSalesOfAggrenox	455,000,000
Operating Leases Future Minimum Payments Due In Four Years	us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears	$ 84,357,000
CivilPenaltyForEachAllegedlyFalseClaimSubmittedRange	teva_Civilpenaltyforeachallegedlyfalseclaimsubmittedrange	Under the federal False Claims Act, the government (or relators who pursue the claims without the participation of the government in the case) may seek to recover up to three times the amount of damages in addition to a civil penalty of $10,781 to $21,563
Ciprofloxacin Sales	teva_CiprofloxacinSales	$ 500,000,000
Past Employee Stock And Incentived Plans [Member]
Number of equivalent stock units approved for grants under the plan	us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized	70,000,000
Number of equivalent stock units approved for grants under the plan	us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized	43,700,000
Share Based Compensation Arrangement By Share Based Payment Award Award Expiration Period	teva_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardExpirationPeriod	seven
Long Term Equity Based Incentive Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award Award Expiration Period	teva_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardExpirationPeriod	ten