Pharmaceuticals & Biotech: Credit losses (CECL, ASC 326)

December 31, 2025	December 31, 2024
ASSETS
Current assets:
Cash and cash equivalents	3,556	3,300
Accounts receivables, net of allowance for credit losses of $ 81 million and $ 78 million as of December 31, 2025 and December 31, 2024, respectively	3,709	3,059
Inventories	3,179	3,007
Prepaid expenses	1,122	1,006
Other current assets	539	409
Assets held for sale	1,842	1,771
Total current assets	13,946	12,552
Deferred income taxes	2,191	1,799
Other non-current assets	405	462
Property, plant and equipment, net	4,080	4,581
Operating lease right-of-use assets	345	367
Identifiable intangible assets, net	3,781	4,418
Goodwill	16,000	15,147
Total assets	40,748	39,326
LIABILITIES AND EQUITY
Current liabilities:
Short-term debt	1,820	1,781
Sales reserves and allowances	4,143	3,678
Accounts payables	2,531	2,203
Employee-related obligations	739	624
Accrued expenses	2,687	2,792
Other current liabilities	1,182	1,020

Amounts may not add up due to rounding.

The accompanying notes are an integral part of the financial statements.

TEVA PHARMACEUTICAL INDUSTRIES LIMITED

CONSOLIDATED STATEMENTS OF INCOME (LOSS)

(U.S. dollars in millions, except share and per share data)