0001593034-21-000012 | 10-K | XBRL Viewer

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Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Dec. 31, 2020	Feb. 18, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-36326
Entity Registrant Name	Endo International plc
Entity Incorporation, State or Country Code	L2
Entity Tax Identification Number	68-0683755
Entity Address, Address Line One	First Floor, Minerva House, Simmonscourt Road
Entity Address, City or Town	Ballsbridge, Dublin 4,
Entity Address, Country	IE
Entity Address, Postal Zip Code	Not Applicable
City Area Code	353
Local Phone Number	1-268-2000
Title of 12(b) Security	Ordinary shares, nominal value $0.0001 per share
Trading Symbol	ENDP
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 778,542,515
Entity Ordinary Shares Outstanding (in shares)		230,500,639
Documents Incorporated by Reference	Portions of the registrant’s proxy statement pursuant to Regulation 14A relating to its 2021 Annual General Meeting, to be filed with the Securities and Exchange Commission subsequent to the date hereof, are incorporated by reference into Part III of this Form 10-K. Such proxy statement will be filed with the Securities and Exchange Commission no later than 120 days after the conclusion of the registrant’s fiscal year ended December 31, 2020.
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Central Index Key	0001593034

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
CURRENT ASSETS:
Cash and cash equivalents	$ 1,213,437	$ 1,454,531
Restricted cash and cash equivalents	171,563	247,457
Accounts receivable, net	511,262	467,953
Inventories, net	352,260	327,865
Prepaid expenses and other current assets	100,899	40,845
Income taxes receivable	63,837	47,567
Total current assets	2,413,258	2,586,218
PROPERTY, PLANT AND EQUIPMENT, NET	458,471	504,865
OPERATING LEASE ASSETS	37,030	51,700
GOODWILL	3,560,011	3,595,184
OTHER INTANGIBLES, NET	2,740,808	2,571,267
DEFERRED INCOME TAXES	1,824	2,192
OTHER ASSETS	53,235	78,101
TOTAL ASSETS	9,264,637	9,389,527
CURRENT LIABILITIES:
Accounts payable and accrued expenses	835,940	899,949
Current portion of legal settlement accrual	372,121	513,005
Current portion of operating lease liabilities	11,613	10,763
Current portion of long-term debt	34,150	34,150
Income taxes payable	0	2,422
Total current liabilities	1,253,824	1,460,289
DEFERRED INCOME TAXES	26,066	31,703
LONG-TERM DEBT, LESS CURRENT PORTION, NET	8,280,578	8,359,899
OPERATING LEASE LIABILITIES, LESS CURRENT PORTION	38,132	48,299
OTHER LIABILITIES	313,976	355,881
COMMITMENTS AND CONTINGENCIES (NOTE 16)
SHAREHOLDERS' DEFICIT:
Euro deferred shares, $0.01 par value; 4,000,000 shares authorized and issued at both December 31, 2020 and December 31, 2019	49	45
Ordinary shares, $0.0001 par value; 1,000,000,000 shares authorized; 230,315,768 and 226,802,609 shares issued and outstanding at December 31, 2020 and December 31, 2019, respectively	23	23
Additional paid-in capital	8,938,012	8,904,692
Accumulated deficit	(9,368,270)	(9,552,214)
Accumulated other comprehensive loss	(217,753)	(219,090)
Total equity	(647,939)	(866,544)
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT	$ 9,264,637	$ 9,389,527

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
SHAREHOLDERS' DEFICIT:
Euro deferred shares, par value (in dollars per share)	$ 0.01	$ 0.01
Euro deferred shares, shares authorized (in shares)	4,000,000	4,000,000
Euro deferred shares, shares issued (in shares)	4,000,000	4,000,000
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	230,315,768	230,315,768
Common stock, shares outstanding (in shares)	226,802,609	226,802,609

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
TOTAL REVENUES, NET	$ 2,903,074	$ 2,914,364	$ 2,947,078
COSTS AND EXPENSES:
Cost of revenues	1,442,511	1,569,338	1,631,682
Selling, general and administrative	698,506	632,420	646,037
Research and development	158,902	130,732	185,826
Litigation-related and other contingencies, net	(19,049)	11,211	13,809
Asset impairment charges	120,344	526,082	916,939
Acquisition-related and integration items, net	16,549	(46,098)	21,914
Interest expense, net	532,939	538,734	521,656
Gain on extinguishment of debt	0	(119,828)	0
Other (income) expense, net	(21,110)	16,677	(51,953)
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAX	(26,518)	(344,904)	(938,832)
INCOME TAX (BENEFIT) EXPENSE	(273,982)	15,680	22,935
INCOME (LOSS) FROM CONTINUING OPERATIONS	247,464	(360,584)	(961,767)
DISCONTINUED OPERATIONS, NET OF TAX (NOTE 3)	(63,520)	(62,052)	(69,702)
NET INCOME (LOSS)	$ 183,944	$ (422,636)	$ (1,031,469)
NET INCOME (LOSS) PER SHARE—BASIC:
Continuing operations (in dollars per share)	$ 1.08	$ (1.60)	$ (4.29)
Discontinued operations (in dollars per share)	(0.28)	(0.27)	(0.32)
Basic (in dollars per share)	0.80	(1.87)	(4.61)
NET INCOME (LOSS) PER SHARE—DILUTED:
Continuing operations (in dollars per share)	1.06	(1.60)	(4.29)
Discontinued operations (in dollars per share)	(0.27)	(0.27)	(0.32)
Diluted (in dollars per share)	$ 0.79	$ (1.87)	$ (4.61)
WEIGHTED AVERAGE SHARES:
Basic (in shares)	229,314	226,050	223,960
Diluted (in shares)	233,653	226,050	223,960

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
NET INCOME (LOSS)	$ 183,944	$ (422,636)	$ (1,031,469)
OTHER COMPREHENSIVE INCOME (LOSS):
Net unrealized gain (loss) on foreign currency	1,337	10,139	(19,408)
Total other comprehensive income (loss)	1,337	10,139	(19,408)
COMPREHENSIVE INCOME (LOSS)	$ 185,281	$ (412,497)	$ (1,050,877)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (DEFICIT) - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Cumulative Effect, Period of Adoption, Adjusted Balance	Ordinary Shares	Ordinary Shares Cumulative Effect, Period of Adoption, Adjusted Balance	Euro Deferred Shares	Euro Deferred Shares Cumulative Effect, Period of Adoption, Adjusted Balance	Additional Paid-in Capital	Additional Paid-in Capital Cumulative Effect, Period of Adoption, Adjusted Balance	Accumulated Deficit	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjustment	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjusted Balance	Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Cumulative Effect, Period of Adoption, Adjusted Balance
Shareholders' equity, beginning balance (in shares) at Dec. 31, 2017				223,331,706	223,331,706	4,000,000	4,000,000
Shareholders' equity, beginning balance at Dec. 31, 2017	$ 484,880	$ 3,076	$ 487,956	$ 22	$ 22	$ 48	$ 48	$ 8,791,170	$ 8,791,170	$ (8,096,539)	$ 3,076	$ (8,093,463)	$ (209,821)	$ (209,821)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(1,031,469)									(1,031,469)
Other comprehensive income (loss)	(19,408)												(19,408)
Compensation related to share-based awards	$ 54,071							54,071
Exercise of options (in shares)	94,392			94,392
Exercise of options	$ 933							933
Ordinary shares issued (in shares)				956,693
Ordinary shares issued	0
LTCI modification	14,936							14,936
Tax withholding for restricted shares	(5,375)							(5,375)
Other	73					$ (2)		75
Shareholders' equity, ending balance (in shares) at Dec. 31, 2018				224,382,791	224,382,791	4,000,000	4,000,000
Shareholders' equity, ending balance at Dec. 31, 2018	$ (498,283)	$ (4,646)	$ (502,929)	$ 22	$ 22	$ 46	$ 46	8,855,810	$ 8,855,810	(9,124,932)	$ (4,646)	$ (9,129,578)	(229,229)	$ (229,229)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201602Member
Net loss	$ (422,636)									(422,636)
Other comprehensive income (loss)	10,139												10,139
Compensation related to share-based awards	$ 59,142							59,142
Exercise of options (in shares)	557			557
Exercise of options	$ 4							4
Ordinary shares issued (in shares)				2,419,261
Ordinary shares issued	0
Tax withholding for restricted shares	(10,156)							(10,156)
Other	(108)			$ 1		$ (1)		(108)
Shareholders' equity, ending balance (in shares) at Dec. 31, 2019				226,802,609		4,000,000
Shareholders' equity, ending balance at Dec. 31, 2019	(866,544)			$ 23		$ 45		8,904,692		(9,552,214)			(219,090)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	183,944									183,944
Other comprehensive income (loss)	1,337												1,337
Compensation related to share-based awards	41,357							41,357
Ordinary shares issued (in shares)				3,513,159
Ordinary shares issued	0
Tax withholding for restricted shares	(8,036)							(8,036)
Other	3					$ 4		(1)
Shareholders' equity, ending balance (in shares) at Dec. 31, 2020				230,315,768		4,000,000
Shareholders' equity, ending balance at Dec. 31, 2020	$ (647,939)			$ 23		$ 49		$ 8,938,012		$ (9,368,270)			$ (217,753)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
OPERATING ACTIVITIES:
Net income (loss)	$ 183,944	$ (422,636)	$ (1,031,469)
Adjustments to reconcile Net income (loss) to Net cash provided by operating activities:
Depreciation and amortization	518,807	612,862	723,707
Inventory step-up	0	0	261
Share-based compensation	41,357	59,142	54,071
Amortization of debt issuance costs and discount	15,606	18,107	20,514
Deferred income taxes	(163,558)	(5,561)	5,557
Change in fair value of contingent consideration	16,353	(46,098)	19,910
Gain on extinguishment of debt	0	(119,828)	0
Acquired in-process research and development charges	28,602	0	0
Asset impairment charges	120,344	526,082	916,939
Gain on sale of business and other assets	(16,353)	(6,367)	(45,155)
Changes in assets and liabilities which (used) provided cash:
Accounts receivable	(45,792)	19,158	17,090
Inventories	(8,031)	(27,139)	67,269
Prepaid and other assets	(27,421)	11,370	(12,797)
Accounts payable, accrued expenses and other liabilities	(171,366)	(525,746)	(425,336)
Income taxes payable/receivable, net	(95,100)	4,706	(43,291)
Net cash provided by operating activities	397,392	98,052	267,270
INVESTING ACTIVITIES:
Capital expenditures, excluding capitalized interest	(69,971)	(63,854)	(83,398)
Capitalized interest payments	(2,892)	(3,833)	(3,549)
Acquisitions, including in-process research and development, net of cash and restricted cash acquired	(649,504)	0	0
Proceeds from sales and maturities of investments	92,763	0	0
Product acquisition costs and license fees	(2,000)	0	(3,000)
Proceeds from sale of business and other assets, net	6,737	6,577	70,369
Other investing activities	0	912	1,678
Net cash used in investing activities	(624,867)	(60,198)	(17,900)
FINANCING ACTIVITIES:
Proceeds from issuance of notes, net	0	1,483,125	0
Repayments of notes	(57,649)	(1,501,788)	0
Repayments of term loans	(34,150)	(34,152)	(34,150)
Proceeds from draw of revolving debt	0	300,000	0
Repayments of other indebtedness	(4,884)	(9,196)	(5,222)
Payments for debt issuance and extinguishment costs	0	(6,414)	0
Payments for contingent consideration	(3,848)	(16,822)	(37,758)
Payments of tax withholding for restricted shares	(8,036)	(10,156)	(5,375)
Proceeds from exercise of options	0	4	933
Net cash (used in) provided by financing activities	(108,567)	204,601	(81,572)
Effect of foreign exchange rate	654	1,096	(1,975)
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS	(335,388)	243,551	165,823
CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS, BEGINNING OF PERIOD	1,720,388	1,476,837	1,311,014
CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS, END OF PERIOD	1,385,000	1,720,388	1,476,837
SUPPLEMENTAL INFORMATION:
Cash paid for interest, excluding capitalized interest	534,529	559,528	515,042
Cash paid for income taxes, gross	11,669	14,875	17,639
Cash refunds from income taxes, gross	31,897	11,808	7,378
Cash paid into Qualified Settlement Funds for mesh legal settlements	7,215	253,520	336,648
Cash paid out of Qualified Settlement Funds for mesh legal settlements	123,803	314,266	353,032
Other cash distributions for mesh legal settlements	$ 44,471	$ 15,330	$ 25,222

Description of Business	12 Months Ended
Description of Business	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS	NOTE 1. DESCRIPTION OF BUSINESS Endo International plc is an Ireland-domiciled specialty pharmaceutical company that conducts business through its operating subsidiaries. Unless otherwise indicated or required by the context, references throughout to “Endo,” the “Company,” “we,” “our” or “us” refer to Endo International plc and its subsidiaries. The accompanying Consolidated Financial Statements of Endo International plc and its subsidiaries have been prepared in accordance with U.S. GAAP.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Accounting Changes and Error Corrections [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Significant Accounting Policies

Consolidation and Basis of Presentation. The Consolidated Financial Statements include the accounts of wholly-owned subsidiaries after the elimination of intercompany accounts and transactions.

Reclassifications. Certain prior period amounts have been reclassified to conform to the current period presentation.

Use of Estimates. The preparation of our Consolidated Financial Statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the amounts and disclosures in our Consolidated Financial Statements, including the notes thereto, and elsewhere in this report. For example, we are required to make significant estimates and assumptions related to revenue recognition, including sales deductions, long-lived assets, goodwill, other intangible assets, income taxes, contingencies, financial instruments and share-based compensation, among others. Some of these estimates can be subjective and complex. Uncertainties related to the continued magnitude and duration of the COVID-19 pandemic, the extent to which it will impact our estimated future financial results, worldwide macroeconomic conditions including interest rates, employment rates, consumer spending, health insurance coverage, the speed of the anticipated recovery and governmental and business reactions to the pandemic, including any possible re-initiation of shutdowns or renewed restrictions, have increased the complexity of developing these estimates, including the allowance for expected credit losses and the carrying amounts of long-lived assets, goodwill and other intangible assets. Although we believe that our estimates and assumptions are reasonable, there may be other reasonable estimates or assumptions that differ significantly from ours. Further, our estimates and assumptions are based upon information available at the time they were made. Actual results may differ significantly from our estimates, including as a result of COVID-19.

We regularly evaluate our estimates and assumptions using historical experience and other factors, including the economic environment. As future events and their effects cannot be determined with precision, our estimates and assumptions may prove to be incomplete or inaccurate, or unanticipated events and circumstances may occur that might cause us to change those estimates and assumptions. Market conditions, such as illiquid credit markets, volatile equity markets, dramatic fluctuations in foreign currency rates and economic downturns, can increase the uncertainty already inherent in our estimates and assumptions. We also are subject to other risks and uncertainties that may cause actual results to differ from estimated amounts, such as changes in the healthcare environment, competition, litigation, legislation and regulations. We adjust our estimates and assumptions when facts and circumstances indicate the need for change. Those changes generally will be reflected in our Consolidated Financial Statements on a prospective basis.

Customer, Product and Supplier Concentration. We primarily sell our branded and generic products to wholesalers, retail drug store chains, supermarket chains, mass merchandisers, distributors, mail order accounts, hospitals and government agencies. Our wholesalers and distributors purchase products from us and, in turn, supply products to retail drug store chains, independent pharmacies and MCOs. Customers in the managed care market include health maintenance organizations, nursing homes, hospitals, clinics, pharmacy benefit management companies and mail order customers. Net revenues from direct customers that accounted for 10% or more of our total consolidated revenues during the years ended December 31, 2020, 2019 and 2018 are as follows:


	2020		2019		2018
AmerisourceBergen Corporation	33	%	34	%	32	%
McKesson Corporation	27	%	26	%	27	%
Cardinal Health, Inc.	24	%	25	%	26	%

Revenues from these customers are included within each of our segments.

VASOSTRICT® accounted for 27%, 18% and 15% of our 2020, 2019 and 2018 net revenues, respectively. XIAFLEX® accounted for 11% of both our 2020 and 2019 net revenues. No other products accounted for 10% or more of our net revenues during the years ended December 31, 2020, 2019 or 2018.

We have agreements with certain third parties for the manufacture, supply and processing of certain of our existing pharmaceutical products. See Note 16. Commitments and Contingencies for information on material manufacturing, supply and other service agreements.

We are subject to risks and uncertainties associated with these concentrations that could have a material adverse effect on our business, financial condition, results of operations and cash flows in future periods, including in the near term.

Revenue Recognition and Sales Deductions. The Company adopted ASC 606 on January 1, 2018 using the modified retrospective method for all revenue-generating contracts, including modifications thereto, that were not completed contracts at the date of adoption. ASC 606 applies to contracts with commercial substance that establish the payment terms and each party’s rights regarding the goods or services to be transferred, to the extent collection of substantially all of the related consideration is probable. Under ASC 606, we recognize revenue for contracts meeting these criteria when (or as) we satisfy our performance obligations for such contracts by transferring control of the underlying promised goods or services to our customers. The amount of revenue we recognize reflects our estimate of the consideration we expect to be entitled to receive, subject to certain constraints, in exchange for such goods or services. This amount is referred to as the transaction price.

Our revenue consists almost entirely of sales of our products to customers, whereby we ship products to a customer pursuant to a purchase order. For contracts such as these, revenue is recognized when our contractual performance obligations have been fulfilled and control has been transferred to the customer pursuant to the contract’s terms, which is generally upon delivery to the customer. The amount of revenue we recognize is equal to the fixed amount of the transaction price, adjusted for our estimates of a number of significant variable components including, but not limited to, estimates for chargebacks, rebates, sales incentives and allowances, DSA and other fees for services, returns and allowances, which we collectively refer to as sales deductions. The Company utilizes the expected value method when estimating the amount of variable consideration to include in the transaction price with respect to each of the foregoing variable components and the most likely amount method when estimating the amount of variable consideration to include in the transaction price with respect to future potential milestone payments that do not qualify for the sales- and usage-based royalty exception. Variable consideration is included in the transaction price only to the extent it is probable that a significant revenue reversal will not occur when the uncertainty associated with the variable consideration is resolved. Payment terms for these types of contracts generally fall within 30 to 90 days of invoicing.

At December 31, 2020 and 2019, our reserves for sales deductions totaled $605.6 million and $660.3 million, respectively. These amounts relate primarily to our estimates of unsettled obligations for returns and allowances, rebates and chargebacks. The most significant sales deduction reserves relate to returns for the Branded Pharmaceuticals segment, and to returns, wholesaler chargebacks and rebates for the Sterile Injectables and Generic Pharmaceuticals segments. Our estimates are based on factors such as our direct and indirect customers’ buying patterns and the estimated resulting contractual deduction rates, historical experience, specific known market events and estimated future trends, current contractual and statutory requirements, industry data, estimated customer inventory levels, current contract sales terms with our direct and indirect customers and other competitive factors. Significant judgment and estimation is required in developing the foregoing and other relevant assumptions. The most significant sales deductions are further described below.

Returns and Allowances—Consistent with industry practice, we maintain a return policy that allows our customers to return products within a specified period of time both subsequent to and, in certain cases, prior to the products’ expiration dates. Our return policy generally allows customers to receive credit for expired products within six months prior to expiration and within between six months and one year after expiration. Our provision for returns and allowances consists of our estimates for future product returns, pricing adjustments and delivery errors.

Rebates—Our provision for rebates, sales incentives and other allowances can generally be categorized into the following four types:

•direct rebates;

•indirect rebates;

•governmental rebates, including those for Medicaid, Medicare and TRICARE, among others; and

•managed-care rebates.

We establish contracts with wholesalers, chain stores and indirect customers that provide for rebates, sales incentives, DSA fees and other allowances. Some customers receive rebates upon attaining established sales volumes. Direct rebates are generally rebates paid to direct purchasing customers based on a percentage applied to a direct customer’s purchases from us, including fees paid to wholesalers under our DSAs, as described above. Indirect rebates are rebates paid to indirect customers that have purchased our products from a wholesaler under a contract with us.

We are subject to rebates on sales made under governmental and managed-care pricing programs based on relevant statutes with respect to governmental pricing programs and contractual sales terms with respect to managed-care providers and GPOs. For example, we are required to provide a discount on our brand-name products to patients who fall within the Medicare Part D coverage gap, also referred to as the donut hole.

We participate in various federal and state government-managed programs whereby discounts and rebates are provided to participating government entities. For example, Medicaid rebates are amounts owed based upon contractual agreements or legal requirements with public sector (Medicaid) benefit providers after the final dispensing of the product by a pharmacy to a benefit plan participant.

Chargebacks—We market and sell products to both: (i) direct customers including wholesalers, distributors, warehousing pharmacy chains and other direct purchasing groups and (ii) indirect customers including independent pharmacies, non-warehousing chains, MCOs, GPOs and government entities. We enter into agreements with certain of our indirect customers to establish contract pricing for certain products. These indirect customers then independently select a wholesaler from which to purchase the products at these contracted prices. Alternatively, we may pre-authorize wholesalers to offer specified contract pricing to other indirect customers. Under either arrangement, we provide credit to the wholesaler for any difference between the contracted price with the indirect customer and the wholesaler’s invoice price. Such credit is called a chargeback.

Prior to the adoption of ASC 606, the Company accounted for revenue recognition and sales deductions under Accounting Standards Codification Topic 605, Revenue Recognition.

Contract Assets and Contract Liabilities. Contract assets represent the Company’s right to consideration in exchange for goods or services that the Company has transferred when that right is conditioned on something other than the passage of time. The Company records revenue and a corresponding contract asset when it fulfills a contractual performance obligation, but must also fulfill one or more additional performance obligations before being entitled to payment. Once the Company’s right to consideration becomes unconditional, the contract asset amount is reclassified as Accounts receivable.

Contract liabilities represent the Company’s obligation to transfer goods or services to a customer. The Company records a contract liability generally upon receipt of consideration in advance of fulfilling one or more of its contractual performance obligations. Upon completing each performance obligation, the corresponding contract liability amount is reversed and revenue is recognized.

Contract assets and liabilities related to rights and obligations arising from a single contract, or a series of contracts combined and accounted for as a single contract, are generally presented on a net basis. Contract assets and liabilities are further described in Note 13. Contract Assets and Liabilities.

Acquisitions. We evaluate acquisitions of assets and other similar transactions to assess whether or not the transaction should be accounted for as a business combination or asset acquisition by first applying a screen test to determine whether substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets. If so, the transaction is accounted for as an asset acquisition. If not, further determination is required as to whether or not we have acquired inputs and processes that have the ability to create outputs, which would meet the definition of a business. Significant judgment is required in the application of the screen test to determine whether an acquisition is a business combination or an acquisition of assets.

Acquisitions meeting the definition of business combinations are accounted for using the acquisition method of accounting, which requires that the purchase price be allocated to the net assets acquired at their respective fair values. In a business combination, any excess of the purchase price over the estimated fair values of the net assets acquired is recorded as goodwill.

For asset acquisitions, a cost accumulation model is used to determine the cost of an asset acquisition. Direct transaction costs are recognized as part of the cost of an asset acquisition. We also evaluate which elements of a transaction should be accounted for as a part of an asset acquisition and which should be accounted for separately. The cost of an asset acquisition, including transaction costs, is allocated to identifiable assets acquired and liabilities assumed based on a relative fair value basis. Goodwill is not recognized in an asset acquisition. Any difference between the cost of an asset acquisition and the fair value of the net assets acquired is allocated to the non-monetary identifiable assets based on their relative fair values. Assets acquired as part of an asset acquisition that are considered to be in-process research and development are immediately expensed unless there is an alternative future use in other research and development projects.

R&D. Expenditures for R&D are expensed as incurred. Total R&D expenses include, among other things, the costs of discovery research, preclinical development, early- and late-clinical development and drug formulation, clinical trials, materials, medical support of marketed products and certain upfront and milestone payments. R&D spending also includes enterprise-wide costs which support our overall R&D infrastructure. Property, plant and equipment that are acquired or constructed for R&D activities and that have alternate future uses are capitalized and depreciated over their estimated useful lives on a straight-line basis. Contractual upfront and milestone payments made to third parties are generally: (i) expensed as incurred up to the point of regulatory approval and (ii) capitalized and amortized over the related product’s remaining useful life subsequent to regulatory approval. Amounts capitalized for such payments are included in Other intangibles, net in the Consolidated Balance Sheets.

Cash and Cash Equivalents. The Company considers all highly liquid money market instruments with an original maturities of three months or less when purchased to be cash equivalents. At December 31, 2020 and 2019, cash equivalents were deposited in financial institutions and consisted almost entirely of immediately available fund balances. The Company maintains its cash deposits and cash equivalents with financial institutions it believes to be well-known and stable.

Restricted Cash and Cash Equivalents. Cash and cash equivalents that are restricted as to withdrawal or use under the terms of certain contractual agreements are excluded from Cash and cash equivalents in the Consolidated Balance Sheets. For additional information see Note 7. Fair Value Measurements.

Accounts Receivable. The Company adopted Accounting Standards Codification Topic 326, Financial Instruments-Credit Losses (ASC 326) on January 1, 2020. For further discussion of the adoption, refer to the “Recent Accounting Pronouncements Adopted or Otherwise Effective as of December 31, 2020” section below. Subsequent to the adoption of ASC 326, our accounts receivable balance is stated at amortized cost less an allowance determined using the expected credit loss model. In addition, our accounts receivable balance is reduced by certain sales deduction reserves where we have the right of offset with the customer. We generally do not require collateral.

Concentrations of Credit Risk and Credit Losses. Financial instruments that potentially subject us to significant concentrations of credit risk consist primarily of cash equivalents, restricted cash equivalents and accounts receivable. From time to time, we invest our excess cash in high-quality, liquid money market instruments maintained by major banks and financial institutions. We have not experienced any losses on our cash equivalents.

With respect to our accounts receivable, we have no history of significant losses. Approximately 90% and 88% of our gross trade accounts receivable balances represent amounts due from three customers (Cardinal Health, Inc., McKesson Corporation and AmerisourceBergen Corporation) at December 31, 2020 and December 31, 2019, respectively. We perform ongoing credit evaluations of these and our other customers based on information available to us. We consider these and other factors, including changes in the composition and aging of our accounts receivable, in developing our allowance for expected credit losses. The estimated allowance was not material to the Company’s Consolidated Financial Statements at December 31, 2020 or December 31, 2019, nor were the changes to the allowance during any of the periods presented.

We do not currently expect our current or future exposures to credit losses to have a significant impact on us. However, our customers’ ability to pay us on a timely basis, or at all, could be affected by factors specific to their respective businesses and/or by economic conditions, including those related to the COVID-19 pandemic, the extent of which cannot be fully predicted.

Inventories. Inventories consist of raw materials, work-in-process and finished goods. Inventory that is in excess of the amount expected to be sold within one year is classified as long-term inventory and is recorded in Other assets in the Consolidated Balance Sheets. The Company capitalizes inventory costs associated with certain products prior to regulatory approval and product launch when it is reasonably certain, based on management’s judgment of future commercial use and net realizable value, that the pre-launch inventories will be saleable. The determination to capitalize is made on a product-by-product basis. The Company could be required to write down previously capitalized costs related to pre-launch inventories upon a change in such judgment, a denial or delay of approval by regulatory bodies, a delay in commercialization or other potential factors. Our inventories are stated at the lower of cost or net realizable value.

Cost is determined by the first-in, first-out method. It includes materials, direct labor and an allocation of overhead, but excludes certain period charges and unallocated overheads that are charged to expense in the period in which they are incurred. Unallocated overheads can occur as a consequence of abnormally low production or idle facilities.

Net realizable value is determined by the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. When necessary, we write-down inventories to net realizable value based on forecasted demand and market and regulatory conditions, which may differ from actual results.

Property, Plant and Equipment. Property, plant and equipment is generally stated at cost less accumulated depreciation. Major improvements are capitalized, while routine maintenance and repairs are expensed as incurred. Costs incurred during the construction or development of property, plant and equipment are capitalized as assets under construction. Once an asset has been placed into service, depreciation expense is taken on a straight-line basis over the estimated useful life of the related assets or, in the case of leasehold improvements and finance lease assets, over the shorter of the estimated useful life and the lease term. As of December 31, 2020, the useful lives of our property, plant and equipment range from 1 year to up to 30 years for buildings, 15 years for machinery and equipment, 10 years for computer equipment and software and 10 years for furniture and fixtures.

Depreciation expense is not recorded on assets held for sale. Gains and losses on disposals are included in Other (income) expense, net in the Consolidated Statements of Operations. As further described below under the heading “Long-Lived Asset Impairment Testing,” our property plant and equipment assets are also subject to impairment reviews.

Computer Software. The Company capitalizes certain costs incurred in connection with obtaining or developing internal-use software, including external direct costs of material and services, and payroll costs for employees directly involved with the software development. Capitalized software costs are included in Property, plant and equipment, net in the Consolidated Balance Sheets and depreciated beginning when the software project is substantially complete and the asset is ready for its intended use. Costs incurred during the preliminary project stage and post-implementation stage, as well as maintenance and training costs, are expensed as incurred.

Lease Accounting. The Company adopted ASC 842 on January 1, 2019 using the modified retrospective approach with an effective date of January 1, 2019 for leases that existed on that date. The Company elected to apply certain practical expedients permitted under the transition guidance within ASC 842 to leases that commenced before January 1, 2019, including the package of practical expedients, as well as the practical expedient permitting the Company to not assess whether certain land easements contain leases. Due to the Company's election of these practical expedients, the Company carried forward certain historical conclusions for existing contracts, including conclusions relating to initial direct costs and to the existence and classification of leases. ASC 842 applies to a number of arrangements to which the Company is party.

Whenever the Company enters into a new arrangement, it must determine, at the inception date, whether the arrangement is or contains a lease. This determination generally depends on whether the arrangement conveys to the Company the right to control the use of an explicitly or implicitly identified asset for a period of time in exchange for consideration. Control of an underlying asset is conveyed to the Company if the Company obtains the rights to direct the use of and to obtain substantially all of the economic benefits from using the underlying asset.

If a lease exists, the Company must then determine the separate lease and nonlease components of the arrangement. Each right to use an underlying asset conveyed by a lease arrangement should generally be considered a separate lease component if it both: (i) can benefit the Company without depending on other resources not readily available to the Company and (ii) does not significantly affect and is not significantly affected by other rights of use conveyed by the lease. Aspects of a lease arrangement that transfer other goods or services to the Company but do not meet the definition of lease components are considered nonlease components. The consideration owed by the Company pursuant to a lease arrangement is generally allocated to each lease and nonlease component for accounting purposes. However, the Company has elected, for all of its leases, to not separate lease and nonlease components. Each lease component is accounted for separately from other lease components, but together with the associated nonlease components.

For each lease, the Company must then determine the lease term, the present value of lease payments and the classification of the lease as either an operating or finance lease.

The lease term is the period of the lease not cancellable by the Company, together with periods covered by: (i) renewal options the Company is reasonably certain to exercise, (ii) termination options the Company is reasonably certain not to exercise and (iii) renewal or termination options that are controlled by the lessor.

The present value of lease payments is calculated based on:

•Lease payments—Lease payments include fixed and certain variable payments, less lease incentives, together with amounts probable of being owed by the Company under residual value guarantees and, if reasonably certain of being paid, the cost of certain renewal options and early termination penalties set forth in the lease arrangement. Lease payments exclude consideration that is not related to the transfer of goods and services to the Company.

•Discount rate—The discount rate must be determined based on information available to the Company upon the commencement of a lease. Lessees are required to use the rate implicit in the lease whenever such rate is readily available; however, as the implicit rate in the Company’s leases is generally not readily determinable, the Company generally uses the hypothetical incremental borrowing rate it would have to pay to borrow an amount equal to the lease payments, on a collateralized basis, over a timeframe similar to the lease term.

In making the determination of whether a lease is an operating lease or a finance lease, the Company considers the lease term in relation to the economic life of the leased asset, the present value of lease payments in relation to the fair value of the leased asset and certain other factors, including the lessee’s and lessor’s rights, obligations and economic incentives over the term of the lease.

Generally, upon the commencement of a lease, the Company will record a lease liability and a right-of-use asset. However, the Company has elected, for all underlying assets with initial lease terms of twelve months or less (known as short-term leases), to not recognize a lease liability or right-of-use asset. Lease liabilities are initially recorded at lease commencement as the present value of future lease payments. Right-of-use assets are initially recorded at lease commencement as the initial amount of the lease liability, together with the following, if applicable: (i) initial direct costs incurred by the lessee and (ii) lease payments made by the lessor, net of lease incentives received, prior to lease commencement.

Over the lease term, the Company generally increases its lease liabilities using the effective interest method and decreases its lease liabilities for lease payments made. For finance leases, amortization expense and interest expense are recognized separately in the Consolidated Statements of Operations, with amortization expense generally recorded on a straight-line basis over the lease term and interest expense recorded using the effective interest method. For operating leases, a single lease cost is generally recognized in the Consolidated Statements of Operations on a straight-line basis over the lease term unless an impairment has been recorded with respect to a leased asset. Lease costs for short-term leases not recognized in the Consolidated Balance Sheets are recognized in the Consolidated Statements of Operations on a straight-line basis over the lease term. Variable lease costs not initially included in the lease liability and right-of-use asset impairment charges are expensed as incurred. Right-of-use assets are assessed for impairment, similar to other long-lived assets.

Prior to the adoption of ASC 842, the Company accounted for leases under Accounting Standards Codification Topic 840, Leases (ASC 840).

Cloud Computing Arrangements. The Company may from time to time incur costs in connection with hosting arrangements that are service contracts. Subsequent to the Company’s January 1, 2019 adoption of Accounting Standards Update (ASU) No. 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (ASU 2018-15), the Company capitalizes any such implementation costs, expenses them over the terms of the respective hosting arrangements and subjects them to impairment testing consistent with other long-lived assets.

Finite-Lived Intangible Assets. Our finite-lived intangible assets consist of license rights and developed technology. Upon acquisition, intangible assets are generally initially recorded at fair value if acquired in a business combination, or at cost if otherwise. There are several methods that can be used to determine fair value. For intangible assets, we typically use an income approach. This approach starts with our forecast of all of the expected future net cash flows. Revenues are estimated based on relevant market size and growth factors, expected industry trends, individual project life cycles and, if applicable, the life of any estimated period of marketing exclusivity, such as that granted by a patent. The pricing, margins and expense levels of similar products are considered if available. For certain licensed assets, our estimates of future cash flows consider periods covered by renewal options to the extent we have the intent and ability, at the date of the estimate, to renew the underlying license agreements. These cash flows are then adjusted to present value by applying an appropriate discount rate that reflects the risk factors associated with the cash flow streams.

To the extent an intangible asset is deemed to have a finite life, it is then amortized over its estimated useful life using either the straight-line method or, in the case of certain developed technology assets, an accelerated amortization model. The values of these various assets are subject to continuing scientific, medical and marketplace uncertainty. Factors giving rise to our initial estimate of useful lives are subject to change. Significant changes to any of these factors may result in adjustments to the useful life of the asset and an acceleration of related amortization expense, which could cause our net income and net income per share to decrease. Amortization expense is not recorded on assets held for sale.

As further described below under the heading “Long-Lived Asset Impairment Testing,” our finite-lived intangible assets are also subject to impairment reviews.

Developed Technology. Our developed technology assets subject to amortization have useful lives ranging from 4 years to 20 years, with a weighted average useful life of approximately 11 years. We determine amortization periods and methods of amortization for developed technology assets based on our assessment of various factors impacting estimated useful lives and the timing and extent of estimated cash flows of the acquired assets, including the strength of the intellectual property protection of the product (if applicable), contractual terms and various other competitive and regulatory issues.

License Rights. Our license rights subject to amortization have useful lives ranging from 12 years to 15 years, with a weighted average useful life of approximately 14 years. We determine amortization periods for licenses based on our assessment of various factors including the expected launch date of the product, the strength of the intellectual property protection of the product (if applicable), contractual terms and various other competitive, developmental and regulatory issues.

Long-Lived Asset Impairment Testing. Long-lived assets, including property, plant and equipment and finite-lived intangible assets, are assessed for impairment whenever events or changes in circumstances indicate the assets may not be recoverable. Recoverability of an asset that will continue to be used in our operations is measured by comparing the carrying amount of the asset to the forecasted undiscounted future cash flows related to the asset. In the event the carrying amount of the asset exceeds its undiscounted future cash flows and the carrying amount is not considered recoverable, impairment may exist. An impairment loss, if any, is measured as the excess of the asset’s carrying amount over its fair value, generally based on a discounted future cash flow method, independent appraisals or offers from prospective buyers. An impairment loss would be recognized in the Consolidated Statements of Operations in the period that the impairment occurs.

In-Process Research and Development Assets. In-process research and development assets acquired in an asset acquisition are immediately expensed unless there is an alternative future use in other research and development projects. Otherwise, acquired in-process research and development assets are generally recognized as indefinite-lived intangible assets. Such assets are generally initially recorded at fair value if acquired in a business combination, or at cost if otherwise. Indefinite-lived intangible assets are not subject to amortization. Instead, they are tested for impairment annually and when events or changes in circumstances indicate that the asset might be impaired. Our annual assessment is performed as of October 1. If the fair value of the intangible assets is less than its carrying amount, an impairment loss is recognized for the difference. Assets that receive regulatory approval are reclassified and accounted for as finite-lived intangible assets.

Goodwill. While amortization expense is not recorded on goodwill, goodwill is subject to impairment reviews. An impairment assessment is conducted as of October 1, or more frequently whenever events or changes in circumstances indicate that the asset might be impaired.

We perform the goodwill impairment test by estimating the fair value of the reporting units using an income approach that utilizes a discounted cash flow model or, where appropriate, a market approach. Any goodwill impairment charge we recognize for a reporting unit is equal to the lesser of (i) the total goodwill allocated to that reporting unit and (ii) the amount by which that reporting unit’s carrying amount exceeds its fair value.

Contingencies. The Company is subject to various patent challenges, product liability claims, government investigations and other legal proceedings in the ordinary course of business. Contingent accruals and legal settlements are recorded in the Consolidated Statements of Operations as Litigation-related and other contingencies, net (or as Discontinued operations, net of tax in the case of vaginal mesh matters) when the Company determines that a loss is both probable and reasonably estimable. Legal fees and other expenses related to litigation are expensed as incurred and included in Selling, general and administrative expenses in the Consolidated Statements of Operations (or as Discontinued operations, net of tax in the case of vaginal mesh matters).

Due to the fact that legal proceedings and other contingencies are inherently unpredictable, our estimates of the probability and amount of any such liabilities involve significant judgment regarding future events. The Company records receivables from its insurance carriers only when the realization of the potential claim for recovery is considered probable.

Contingent Consideration. Certain of the Company’s acquisitions involve the potential for future payment of consideration that is contingent upon the occurrence of a future event, such as (i) the achievement of specified regulatory, operational and/or commercial milestones or (ii) royalty payments, such as those relating to future product sales. Contingent consideration liabilities related to an asset acquisition are initially recorded when considered probable and reasonably estimable, which may occur subsequent to the acquisition date. Subsequent changes in the recorded amounts are generally recorded as adjustments to the cost of the acquired assets. Contingent consideration liabilities related to a business combination are initially recorded at fair value on the acquisition date using unobservable inputs. These inputs include the estimated amount and timing of projected cash flows, the probability of success (achievement of the contingent event) and the risk-adjusted discount rate used to present value the probability-weighted cash flows. Subsequent to the acquisition date, at each reporting period, the Company remeasures its contingent consideration liabilities to their current estimated fair values, with changes recorded in earnings. Changes to any of the inputs used in determining fair value may result in fair value adjustments that differ significantly from the actual remeasurement adjustments recognized.

Share Repurchases. The Company accounts for the repurchase of ordinary shares, if any, at par value. Under applicable Irish law, ordinary shares repurchased are retired and not displayed separately as treasury stock. Upon retirement of the ordinary shares, the Company records the difference between the weighted average cost of such ordinary shares and the par value of the ordinary shares as an adjustment to Accumulated deficit in the Consolidated Balance Sheets.

Advertising Costs. Advertising costs are expensed as incurred and included in Selling, general and administrative expenses in the Consolidated Statements of Operations. Advertising costs amounted to $76.0 million, $63.1 million and $49.6 million for the years ended December 31, 2020, 2019 and 2018, respectively.

Cost of Revenues. Cost of revenues includes all costs directly related to bringing both purchased and manufactured products to their final selling destination. Amounts include purchasing and receiving costs, direct and indirect costs to manufacture products including direct materials, direct labor and direct overhead expenses necessary to acquire and convert purchased materials and supplies into finished goods, royalties paid or owed by Endo on certain in-licensed products, inspection costs, depreciation of certain property, plant and equipment, amortization of intangible assets, lease costs, warehousing costs, freight charges, costs to operate our equipment and other shipping and handling costs, among others.

Restructuring. Restructuring charges related to nonretirement postemployment benefits that fall under Accounting Standards Codification Topic 712, Compensation—Nonretirement Postemployment Benefits (ASC 712) are recognized when the severance liability is determined to be probable of being paid and reasonably estimable. One-time benefits related to restructurings, if any, are recognized in accordance with Accounting Standards Codification Topic 420, Exit or Disposal Cost Obligations (ASC 420) when the programs are approved, the affected employees are identified, the terms of the arrangement are established, it is determined changes to the plan are unlikely to occur and the arrangements are communicated to employees. Other restructuring costs are generally expensed as incurred.

Share-Based Compensation. The Company grants share-based compensation awards to certain employees and non-employee directors. Generally, the grant-date fair value of each award is recognized as expense over the requisite service period. However, expense recognition differs in the case of certain performance share units (PSUs) where the ultimate payout is performance-based. For these awards, at each reporting period, the Company estimates the ultimate payout and adjusts the cumulative expense based on its estimate and the percent of the requisite service period that has elapsed. Share-based compensation expense is reduced for estimated future forfeitures. These estimates are revised in future periods if actual forfeitures differ from the estimates. Changes in forfeiture estimates impact compensation expense in the period in which the change in estimate occurs. New ordinary shares are generally issued upon the exercise of stock options or vesting of stock awards by employees and non-employee directors. Refer to Note 19. Share-based Compensation for additional discussion, including the accounting treatment for long-term cash incentive awards that will be settled in ordinary shares.

Foreign Currency. The Company operates in various jurisdictions both inside and outside of the U.S. While the Company’s reporting currency is the U.S. dollar, the Company has concluded that certain of its distinct and separable operations have functional currencies other than the U.S. dollar. Further, certain of the Company’s operations hold assets and liabilities and recognize income and expenses denominated in various local currencies, which may differ from their functional currencies.

Assets and liabilities are first remeasured from local currency to functional currency, generally using end-of-period exchange rates. Foreign currency income and expenses are generally remeasured using average exchange rates in effect during the year. In the case of nonmonetary assets and liabilities such as inventories, prepaid expenses, property, plant and equipment, goodwill and other intangible assets, and related income statement amounts, such as depreciation expense, historical exchange rates are used for remeasurement. The net effect of remeasurement is included in Other (income) expense, net in the Consolidated Statements of Operations.

As part of the Company’s consolidation process, assets and liabilities of entities with functional currencies other than the U.S. dollar are translated into U.S. dollars at end-of-period exchange rates. Income and expenses are translated using average exchange rates in effect during the year. The net effect of translation, as well as any foreign currency gains or losses on intercompany transactions considered to be of a long-term investment nature, are recognized as foreign currency translation, a component of Other comprehensive income (loss). Upon the sale or liquidation of an investment in a foreign operation, the Company records a reclassification adjustment out of Other comprehensive income (loss) for the corresponding accumulated amount of foreign currency translation gain or loss.

Income Taxes. The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The Company records net deferred tax assets to the extent it believes these assets will more likely than not be realized. In making such a determination, the Company considers all available positive and negative evidence, including projected future taxable income, tax-planning strategies and results of recent operations. In the event that the Company were to determine that it would be able to realize its deferred tax assets in the future in excess of their net recorded amount, the Company would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income tax.

The Company records uncertain tax positions on the basis of a two-step process whereby the Company first determines whether it is more likely than not that the tax positions will be sustained based on the technical merits of the position and then measures those tax positions that meet the more-likely-than-not recognition threshold. The Company recognizes the largest amount of tax benefit that is greater than 50% likely to be realized upon ultimate settlement with the tax authority. The Company recognizes interest and penalties related to unrecognized tax benefits within the Income tax (benefit) expense line in the Consolidated Statements of Operations. Accrued interest and penalties are included within the related tax liability line in the Consolidated Balance Sheets.

Comprehensive Income. Comprehensive income or loss includes all changes in equity during a period except those that resulted from investments by or distributions to a company’s shareholders. Other comprehensive income or loss refers to revenues, expenses, gains and losses that are included in comprehensive income, but excluded from net income as these amounts are recorded directly as an adjustment to shareholders’ equity.

Recent Accounting Pronouncements

Recent Accounting Pronouncements Adopted or Otherwise Effective as of December 31, 2020

In June 2016, the Financial Accounting Standards Board (FASB) issued ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments (ASU 2016-13). ASU 2016-13, together with a series of subsequently-issued related ASUs, has been codified in ASC 326. ASC 326 establishes new requirements for companies to estimate expected credit losses when measuring certain financial assets, including accounts receivable. The Company adopted ASC 326 using a modified retrospective approach with an effective date of January 1, 2020. The adoption of ASC 326 did not have a material impact on the Company’s Consolidated Financial Statements.

Discontinued Operations

12 Months Ended

Dec. 31, 2020

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

NOTE 3. DISCONTINUED OPERATIONS

Astora

The operating results of the Company’s Astora business, which the Board resolved to wind-down in 2016, are reported as Discontinued operations, net of tax in the Consolidated Statements of Operations for all periods presented. The following table provides the operating results of Astora Discontinued operations, net of tax, for the years ended December 31, 2020, 2019 and 2018 (in thousands):



	2020		2019		2018
Litigation-related and other contingencies, net	$	41,097	$	30,400	$	34,000
Loss from discontinued operations before income taxes	$	(67,847)	$	(62,052)	$	(69,702)
Income tax benefit	$	(4,327)	$	—	$	—
Discontinued operations, net of tax	$	(63,520)	$	(62,052)	$	(69,702)

Loss from discontinued operations before income taxes includes Litigation-related and other contingencies, net, mesh-related legal defense costs and certain other items.

The cash flows from discontinued operating activities related to Astora included the impact of net losses of $63.5 million, $62.1 million and $69.7 million for the years ended December 31, 2020, 2019 and 2018, respectively, and the impact of cash activity related to vaginal mesh cases. There were no material net cash flows related to Astora discontinued investing activities during the years ended December 31, 2020, 2019 and 2018. There was no depreciation or amortization during the years ended December 31, 2020, 2019 and 2018 related to Astora.

Restructuring

12 Months Ended

Dec. 31, 2020

Restructuring and Related Activities [Abstract]

RESTRUCTURING

NOTE 4. RESTRUCTURING

Set forth below are disclosures relating to restructuring initiatives that resulted in material expenses or cash expenditures during the years ended December 31, 2020, 2019 or 2018 or had material restructuring liabilities at either December 31, 2020 or December 31, 2019.

2017 Generic Pharmaceuticals Restructuring Initiative

On July 21, 2017, the Company announced that, after completing a comprehensive review of its manufacturing network, it would be ceasing operations and closing its manufacturing and distribution facilities in Huntsville, Alabama (the 2017 Generic Pharmaceuticals Restructuring Initiative). The closure of the facilities was completed in June 2018 and the facilities were sold in the fourth quarter of 2018 for net cash proceeds of $23.1 million, resulting in a net gain on disposal of $12.5 million, which is included in Other (income) expense, net in the Consolidated Statements of Operations.

As a result of the 2017 Generic Pharmaceuticals Restructuring Initiative, the Company incurred pre-tax charges of $61.6 million during the year ended December 31, 2018. This amount does not include the $12.5 million gain on the sale of the Huntsville facilities described above.

The expenses in 2018 consisted of accelerated depreciation charges of $35.2 million, employee separation, continuity and other benefit-related costs of $9.1 million, asset impairment charges of $2.6 million and certain other charges of $14.7 million. These charges are included in the Generic Pharmaceuticals segment.

Accelerated depreciation charges and employee separation, continuity and other benefit-related costs are primarily included in Cost of revenues in the Consolidated Statements of Operations. Impairment charges are included in Asset impairment charges. Certain other charges are included in both Cost of revenues and Selling, general and administrative expenses.

The Company did not incur any other material pre-tax charges as a result of the 2017 Generic Pharmaceuticals Restructuring Initiative during the years ended December 31, 2020, 2019 and 2018 and does not expect to incur additional material pre-tax restructuring-related expenses related to this initiative.

Changes to the liability for the 2017 Generic Pharmaceuticals Restructuring Initiative during the year ended December 31, 2019 were as follows (in thousands):


	Employee Separation, Continuity and Other Benefit-Related Costs		Certain Other Restructuring Costs		Total
Liability balance as of December 31, 2018	$	4,239	$	48	$	4,287

Cash payments	(4,239)		(48)		(4,287)
Liability balance as of December 31, 2019	$	—	$	—	$	—

January 2018 Restructuring Initiative

In January 2018, the Company initiated a restructuring initiative that included a reorganization of its Generic Pharmaceuticals segment’s R&D network, a further simplification of the Company’s manufacturing networks and a company-wide unification of certain corporate functions (the January 2018 Restructuring Initiative).

As a result of the January 2018 Restructuring Initiative, the Company incurred pre-tax charges of $23.5 million during the year ended December 31, 2018.

The expenses in 2018 consisted primarily of employee separation, continuity and other benefit-related costs of $21.7 million and certain other charges of $1.8 million. Of the total charges incurred, $10.6 million are included in the Generic Pharmaceuticals segment, $5.2 million are included in Corporate unallocated costs, $3.9 million are included in the Sterile Injectables segment, $3.1 million are included in the International Pharmaceuticals segment and $0.7 million are included in the Branded Pharmaceuticals segment.

Employee separation, continuity and other benefit-related costs are included in Cost of revenues, Selling, general and administrative and R&D expenses in the Consolidated Statements of Operations. Certain other charges are primarily included in Selling, general and administrative expenses.

The Company did not incur any other material pre-tax charges as a result of the January 2018 Restructuring Initiative during the years ended December 31, 2020, 2019 and 2018 and does not expect to incur additional material pre-tax restructuring-related expenses related to this initiative.

The liability related to the January 2018 Restructuring Initiative was not material at December 31, 2020 or 2019 and there were no material changes to the liability during the years ended December 31, 2020 or 2019.

2020 Restructuring Initiative

On November 5, 2020, the Company announced the initiation of several strategic actions to further optimize the Company’s operations and increase overall efficiency (the 2020 Restructuring Initiative). These actions are expected to generate significant cost savings that will be reinvested, among other things, to support the Company’s key strategic priority to expand and enhance its product portfolio. These actions include the following:

•Optimizing the Company’s generic retail business cost structure by exiting manufacturing sites in Irvine, California and Chestnut Ridge, New York, as well as active pharmaceutical ingredient manufacturing and bioequivalence study sites in India. The sites will be exited in a phased approach that is expected to be completed in the second half of 2022. Certain products currently manufactured at the Irvine and Chestnut Ridge sites are expected to be transferred to other internal and external sites within the Company’s manufacturing network.

•Improving operating flexibility and reducing general and administrative costs by transferring certain transaction processing activities to third-party global business process service providers.

•Increasing organizational effectiveness by further integrating the Company’s commercial, operations and research and development functions, respectively, to support the Company’s key strategic priorities.

As a result of the 2020 Restructuring Initiative, the Company’s global workforce is expected to be reduced by approximately 560 net full-time positions. The Company expects to realize annualized pre-tax cash savings (without giving effect to the costs described below) of approximately $85 million to $95 million by the first half of 2023, primarily related to reductions in Cost of revenues of approximately $65 million to $70 million and other expenses, including Selling, general and administrative and Research and development expenses, of approximately $20 million to $25 million.

As a result of the 2020 Restructuring Initiative, the Company expects to incur total pre-tax restructuring-related expenses of approximately $163 million to $183 million, of which approximately $135 million to $150 million relates to the Generic Pharmaceuticals segment, with the remaining amounts relating to our other segments and certain corporate unallocated costs. These estimated restructuring charges consist of accelerated depreciation charges of approximately $56 million to $66 million, asset impairment charges of approximately $7 million, employee separation, continuity and other benefit-related costs of approximately $85 million to $90 million and certain other restructuring costs of approximately $15 million to $20 million. Cash outlays associated with the 2020 Restructuring Initiative are expected to be approximately $100 million to $110 million and consist primarily of employee separation, continuity and other benefit-related costs and certain other restructuring costs. The Company anticipates these actions will be substantially completed by the end of 2022, with substantially all cash payments made by then.

As a result of the 2020 Restructuring Initiative, the Company incurred the following pre-tax net charges during the year ended December 31, 2020 (in thousands):




	2020
Accelerated depreciation charges	$	22,459
Asset impairment charges	7,391
Charges to increase excess inventory reserves	3,097
Employee separation, continuity and other benefit-related costs	60,025
Certain other restructuring costs	664
Total	$	93,636

During the year ended December 31, 2020, these pre-tax net charges were primarily attributable to our Generic Pharmaceuticals segment, which incurred $79.0 million of these pre-tax net charges. The remaining amounts related to our other segments and certain corporate unallocated costs.

As of December 31, 2020, cumulative amounts incurred to date include accelerated depreciation charges of approximately $22.5 million, asset impairment charges related to identifiable intangible assets and certain operating lease assets of approximately $7.4 million, charges to increase excess inventory reserves of approximately $3.1 million, employee separation, continuity and other benefit-related costs of approximately $60.0 million and certain other restructuring costs of approximately $0.7 million. Of these amounts, approximately $79.0 million were attributable to the Generic Pharmaceuticals segment, with the remaining amounts relating to our other segments and certain corporate unallocated costs.

During the year ended December 31, 2020, the pre-tax net charges related to the 2020 Restructuring Initiative were included in our Consolidated Statements of Operations as follows (in thousands):




	2020
Cost of revenues	$	53,297
Selling, general and administrative	27,857
Research and development	5,091
Asset impairment charges	7,391

Total	$	93,636

Changes to the liability for the 2020 Restructuring Initiative during the year ended December 31, 2020 were as follows (in thousands):


	Employee Separation, Continuity and Other Benefit-Related Costs		Certain Other Restructuring Costs		Total
Liability balance as of December 31, 2019	$	—	$	—	$	—
Net charges	60,025		664		60,689
Cash payments	(1,687)		—		(1,687)
Liability balance as of December 31, 2020	$	58,338	$	664	$	59,002

Of the liability at December 31, 2020, $36.4 million is classified as current and is included in Accounts payable and accrued expenses in the Consolidated Balance Sheets, with the remaining amount classified as noncurrent and included in Other liabilities.

Acquisitions

12 Months Ended

Dec. 31, 2020

Asset Acquisition [Abstract]

ACQUISITIONS

NOTE 5. ACQUISITIONS

BioSpecifics Acquisition

On October 19, 2020, the Company entered into an Agreement and Plan of Merger (the Merger Agreement) with Beta Acquisition Corp., a Delaware corporation and wholly-owned indirect subsidiary of the Company (Merger Sub) and BioSpecifics. Pursuant to the Merger Agreement, and on the terms and subject to the conditions thereof, Merger Sub commenced a tender offer (the Offer) on November 2, 2020 to acquire all of BioSpecifics’ issued and outstanding shares of common stock (BioSpecifics Shares) at a purchase price of $88.50 per BioSpecifics Share (Offer Price), net to the holder thereof in cash, subject to reduction for any applicable withholding taxes and without interest.

Through the expiration of the Offer on December 1, 2020, approximately 6,159,975 BioSpecifics Shares were validly tendered and not validly withdrawn in accordance with the terms of the Offer. With all conditions to the Offer satisfied, on December 2, 2020, Merger Sub accepted for purchase all of the BioSpecifics Shares that were validly tendered and not validly withdrawn in accordance with the terms of the Offer.

Following consummation of the Offer, on December 2, 2020, Merger Sub merged with and into BioSpecifics (the Merger) in accordance with Section 251(h) of the Delaware General Corporation Law without a vote on the adoption of the Merger Agreement by BioSpecifics’ stockholders, with BioSpecifics continuing as the surviving corporation in the Merger and thereby becoming a wholly-owned, indirect subsidiary of the Company.

As a result of the Merger, the BioSpecifics Shares ceased to be traded on the Nasdaq, effective as of market open on December 2, 2020.

Prior to the Merger, BioSpecifics was a biopharmaceutical company involved in the development of injectable CCH that generated revenue primarily from its license agreement with us. We had a strategic relationship with BioSpecifics since 2004 pursuant to which BioSpecifics was, among other things, entitled to a royalty stream from us related to our collagenase-based therapies, including XIAFLEX® and QWO®. Subsequent to the acquisition, BioSpecifics became our wholly-owned consolidated subsidiary.

The operating results of BioSpecifics are included in the accompanying Consolidated Statements of Operations from December 2, 2020 and the assets and liabilities of BioSpecifics are included in the Consolidated Balance Sheets as of December 31, 2020. Additionally, beginning in December 2020, the BioSpecifics acquisition had the effect of reducing future royalty payments, which had previously been recognized in Cost of revenues. The BioSpecifics acquisition also eliminates certain milestones and royalties we may otherwise have been required to pay for potential future indications of products or product candidates containing CCH, including those associated with our plantar fibromatosis and adhesive capsulitis development programs.

The acquired set of BioSpecifics assets and activities did not meet the definition of a business based on our assessment that the acquired set of activities lacks substantive processes that significantly contribute to the conversion of inputs into outputs. As a result, we accounted for the transaction as an asset acquisition. The consideration transferred in the asset acquisition was measured at cost, including transaction costs, assets transferred by the Company and royalty obligations discharged by the seller. The following table represents the costs accumulated to acquire BioSpecifics (in thousands):


	December 2, 2020
Base purchase price (1)	$	650,029
Vested employee options and benefits (2)	10,280
Transaction costs	10,268
Less: royalty obligations discharged (3)	(14,909)
Total acquisition consideration	$	655,668

__________

(1)Represents cash consideration paid for 6,159,975 shares tendered and 1,184,980 remaining shares not tendered, but automatically cancelled and funded in an escrow account.

(2)In accordance with BioSpecifics’ stock plan and employment arrangements, certain unvested options and employee bonus compensation immediately vested and accelerated, with no future service requirement, upon change in control. We have accounted for the accelerated vestings as a component of consideration transferred.

(3)Represents the total reduction to the base purchase price for the pre-acquisition accrued and unpaid royalty liability discharged on the date of closing.

The following table summarizes the allocation of consideration transferred on a relative fair value basis to identifiable tangible and intangible assets and other information about the assets and liabilities acquired at the BioSpecifics acquisition date (in thousands):


	December 2, 2020
Cash and cash equivalents	$	21,073
Investments (1)	89,050
Intangible assets—developed technology	673,796
Intangible assets—in-process research and development	28,602
Other acquired assets	3,089
Deferred tax liability	(156,441)
Other assumed liabilities	(3,501)
Net identifiable assets acquired	$	655,668

__________

(1)Investments acquired primarily consisted of debt securities acquired from BioSpecifics on December 2, 2020. Investments acquired were fully liquidated prior to December 31, 2020. No material gains or losses were recognized upon liquidation.

The in-process research and development assets noted in the table above were expensed on the acquisition date and are included in Research and development in the Consolidated Statements of Operations. The Company concluded that the consideration allocable to developed technology acquired represented incremental costs associated with the Company’s existing XIAFLEX® and QWO® intangible assets (the Existing Intangible Assets). The Existing Intangible Assets were acquired by the Company as part of its acquisition of Auxilium Pharmaceuticals, Inc. (Auxilium), accounted for as a business combination at fair value during 2015. Auxilium had a pre-existing development and license agreement with BioSpecifics. The following table summarizes changes to the gross carrying amount, accumulated amortization and net book amount of the Existing Intangible Assets and the new intangible assets resulting from the BioSpecifics acquisition (in thousands):


	Gross Carrying Amount		Accumulated Amortization		Net Book Amount
Asset balances immediately prior to BioSpecifics acquisition	$	1,580,600	$	(725,123)	$	855,477
Additional costs incurred in connection with BioSpecifics acquisition	673,796		—		673,796
Asset balances immediately following BioSpecifics acquisition	$	2,254,396	$	(725,123)	$	1,529,273

Prior to the BioSpecifics acquisition, the Company had been amortizing the Existing Intangible Assets over their respective useful lives, which are the periods over which the assets are expected to contribute directly or indirectly to the future cash flows of the Company. The BioSpecifics acquisition significantly impacted the timing and amount of estimated future cash flows from sales of XIAFLEX® and QWO® and, therefore, the Company considered the acquisition to be a triggering event to remeasure the expected useful lives of the XIAFLEX® and QWO® intangible assets. Following the BioSpecifics acquisition, the Company determined that the weighted average useful life for the XIAFLEX® and QWO® intangible assets was approximately 13.6 years from the closing date of the BioSpecifics acquisition and, accordingly, the intangible assets will be amortized prospectively on a straight-line basis over their revised useful lives, which approximate the periods of economic benefits expected to be realized from future cash flows from sales of XIAFLEX® and QWO®.

Segment Results

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

SEGMENT RESULTS

NOTE 6. SEGMENT RESULTS

The Company’s four reportable business segments are Branded Pharmaceuticals, Sterile Injectables, Generic Pharmaceuticals and International Pharmaceuticals. These segments reflect the level at which the CODM regularly reviews financial information to assess performance and to make decisions about resources to be allocated. Each segment derives revenue from the sales or licensing of its respective products and is discussed in more detail below.

We evaluate segment performance based on Segment adjusted income from continuing operations before income tax, which we define as Loss from continuing operations before income tax and before certain upfront and milestone payments to partners; acquisition-related and integration items, including transaction costs and changes in the fair value of contingent consideration; cost reduction and integration-related initiatives such as separation benefits, continuity payments, other exit costs and certain costs associated with integrating an acquired company’s operations; asset impairment charges; amortization of intangible assets; inventory step-up recorded as part of our acquisitions; litigation-related and other contingent matters; certain legal costs; gains or losses from early termination of debt; debt modification costs; gains or losses from the sales of businesses and other assets; foreign currency gains or losses on intercompany financing arrangements; and certain other items. Effective January 1, 2020, the Company revised its definition of Segment adjusted income from continuing operations before income tax to exclude certain legal costs in order to reflect changes in how the CODM reviews segment performance. The Company believes that such costs are not indicative of business performance and that excluding them more accurately reflects each segment’s results and better enables management to compare financial results between periods. Prior period results have been adjusted to reflect this change. Specifically, for the year ended December 31, 2019, certain legal costs of $64.0 million and $1.3 million have been excluded from our Branded Pharmaceuticals and Generic Pharmaceuticals segments, respectively, and for the year ended December 31, 2018, certain legal costs of $43.8 million have been excluded from our Branded Pharmaceuticals segment, resulting in increases to the Segment adjusted income from continuing operations before income tax for these segments. This change had no impact on our Total consolidated loss from continuing operations before income tax.

Certain of the corporate expenses incurred by the Company are not directly attributable to any specific segment. Accordingly, these costs are not allocated to any of the Company’s segments and are included in the results below as “Corporate unallocated costs.” Interest income and expense are also considered corporate items and not allocated to any of the Company’s segments. The Company’s Total segment adjusted income from continuing operations before income tax is equal to the combined results of each of its segments.

Branded Pharmaceuticals

Our Branded Pharmaceuticals segment includes a variety of branded products to treat and manage conditions in the areas of urology, orthopedics, endocrinology and bariatrics, among others. The products in this segment include XIAFLEX®, SUPPRELIN® LA, NASCOBAL® Nasal Spray, AVEED®, PERCOCET®, TESTOPEL®, EDEX® and LIDODERM®, among others.

Sterile Injectables

Our Sterile Injectables segment consists primarily of branded sterile injectable products such as VASOSTRICT®, ADRENALIN® and APLISOL®, among others, and certain generic sterile injectable products, including ertapenem for injection (the authorized generic of Merck’s Invanz®) and ephedrine sulfate injection, among others.

Generic Pharmaceuticals

Our Generic Pharmaceuticals segment consists of a product portfolio including solid oral extended-release, solid oral immediate-release, liquids, semi-solids, patches, powders, ophthalmics and sprays and includes products that treat and manage a wide of medical conditions.

International Pharmaceuticals

Our International Pharmaceuticals segment includes a variety of specialty pharmaceutical products sold outside the U.S., primarily in Canada through our operating company Paladin. The key products of this segment serve various therapeutic areas, including attention deficit hyperactivity disorder, pain, women’s health, oncology and transplantation.

The following represents selected information for the Company’s reportable segments for the years ended December 31, 2020, 2019 and 2018 (in thousands):



	2020		2019		2018
Net revenues from external customers:
Branded Pharmaceuticals	$	781,780	$	855,402	$	862,832
Sterile Injectables	1,238,847		1,063,131		929,566
Generic Pharmaceuticals	783,110		879,882		1,012,215
International Pharmaceuticals (1)	99,337		115,949		142,465
Total net revenues from external customers	$	2,903,074	$	2,914,364	$	2,947,078
Segment adjusted income from continuing operations before income tax:
Branded Pharmaceuticals	$	377,526	$	426,677	$	412,543
Sterile Injectables	950,145		780,799		695,363
Generic Pharmaceuticals	87,178		159,716		317,892
International Pharmaceuticals	41,022		44,758		59,094
Total segment adjusted income from continuing operations before income tax	$	1,455,871	$	1,411,950	$	1,484,892

__________

(1)Revenues generated by our International Pharmaceuticals segment are primarily attributable to external customers located in Canada.

There were no material revenues from external customers attributed to an individual country outside of the U.S. during any of the periods presented.

The table below provides reconciliations of our Total consolidated loss from continuing operations before income tax, which is determined in accordance with U.S. GAAP, to our Total segment adjusted income from continuing operations before income tax for the years ended December 31, 2020, 2019 and 2018 (in thousands):



	2020		2019		2018
Total consolidated loss from continuing operations before income tax	$	(26,518)	$	(344,904)	$	(938,832)
Interest expense, net	532,939		538,734		521,656
Corporate unallocated costs (1)	157,723		168,136		200,592
Amortization of intangible assets	427,543		543,862		622,339
Inventory step-up	—		—		261
Upfront and milestone payments to partners (2)	35,075		6,623		45,108
Continuity and separation benefits and other cost reduction initiatives (3)	126,282		34,598		86,295
Certain litigation-related and other contingencies, net (4)	(19,049)		11,211		13,809
Certain legal costs (5)	67,819		65,282		43,753
Asset impairment charges (6)	120,344		526,082		916,939
Acquisition-related and integration items, net (7)	16,549		(46,098)		21,914
Gain on extinguishment of debt	—		(119,828)		—

Foreign currency impact related to the remeasurement of intercompany debt instruments	1,919		4,362		(5,486)
Other, net (8)	15,245		23,890		(43,456)
Total segment adjusted income from continuing operations before income tax	$	1,455,871	$	1,411,950	$	1,484,892

__________

(1)Amounts include certain corporate overhead costs, such as headcount, facility and corporate litigation expenses and certain other income and expenses.

(2)Amounts in 2020 include a $28.6 million charge related to in-process research and development assets expensed in connection with the acquisition of BioSpecifics. Amounts in 2018 include a $35.0 million upfront payment related to the development, license and commercialization agreement with Nevakar, Inc.

(3)Amounts in 2020 include employee separation, continuity and other benefit-related costs of $86.9 million, accelerated depreciation charges of $22.5 million and miscellaneous charges of $16.9 million. Amounts in 2019 include employee separation, continuity and other benefit-related costs of $23.6 million and miscellaneous charges of $11.0 million. Amounts in 2018 include employee separation, continuity and other benefit-related costs of $31.7 million, accelerated depreciation charges of $35.2 million, charges to increase excess inventory reserves of $2.9 million and miscellaneous charges of $16.5 million. These costs relate primarily to our restructuring activities as further described in Note 4. Restructuring, certain continuity and transitional compensation arrangements for certain senior management of the Company and certain other cost reduction initiatives.

(4)Amounts include adjustments to our accruals for litigation-related settlement charges and certain settlement proceeds related to suits filed by our subsidiaries. Our material legal proceedings and other contingent matters are described in more detail in Note 16. Commitments and Contingencies.

(5)Amounts relate to opioid-related legal expenses.

(6)Amounts primarily relate to charges to impair goodwill and intangible assets, property, plant and equipment and operating lease right-of-use assets. For additional information, refer to Note 4. Restructuring, Note 7. Fair Value Measurements, Note 9. Leases, Note 10. Property, Plant and Equipment and Note 11. Goodwill and Other Intangibles.

(7)Amounts primarily relate to changes in the fair value of contingent consideration.

(8)Amounts in 2020 include $31.1 million of third-party fees incurred in connection with the June 2020 Refinancing Transactions, which were accounted for as debt modifications. Refer to Note 15. Debt for additional information. Amounts in 2019 include $17.5 million for contract termination costs incurred as a result of certain product discontinuation activities in our International Pharmaceuticals segment and $14.1 million for a premium associated with an extended reporting period endorsement on an expiring insurance program. Remaining amounts in this row primarily relate to gains or losses on sales of businesses and other assets, as further described in Note 20. Other (Income) Expense, Net.

Asset information is not reviewed or included within our internal management reporting. Therefore, the Company has not disclosed asset information for each reportable segment.

During the years ended December 31, 2020, 2019 and 2018, the Company disaggregated its revenue from contracts with customers into the categories included in the table below (in thousands). The Company believes these categories depict how the nature, timing and uncertainty of revenue and cash flows are affected by economic factors.



	2020		2019		2018
Branded Pharmaceuticals:
Specialty Products:
XIAFLEX®	$	316,234	$	327,638	$	264,638
SUPPRELIN® LA	88,182		86,797		81,707
Other Specialty (1)	92,662		105,241		98,230
Total Specialty Products	$	497,078	$	519,676	$	444,575
Established Products:
PERCOCET®	$	110,112	$	116,012	$	122,901
TESTOPEL®	35,234		55,244		58,377

Other Established (2)	139,356		164,470		236,979
Total Established Products	$	284,702	$	335,726	$	418,257
Total Branded Pharmaceuticals (3)	$	781,780	$	855,402	$	862,832
Sterile Injectables:
VASOSTRICT®	$	785,646	$	531,737	$	453,767
ADRENALIN®	152,074		179,295		143,489
Ertapenem for injection	65,607		104,679		57,668
APLISOL®	36,220		61,826		64,913
Other Sterile Injectables (4)	199,300		185,594		209,729
Total Sterile Injectables (3)	$	1,238,847	$	1,063,131	$	929,566
Total Generic Pharmaceuticals (5)	$	783,110	$	879,882	$	1,012,215
Total International Pharmaceuticals (6)	$	99,337	$	115,949	$	142,465
Total revenues, net	$	2,903,074	$	2,914,364	$	2,947,078

__________

(1)Products included within Other Specialty are NASCOBAL® Nasal Spray and AVEED®.

(2)Products included within Other Established include, but are not limited to, EDEX® and LIDODERM®.

(3)Individual products presented above represent the top two performing products in each product category for the year ended December 31, 2020 and/or any product having revenues in excess of $100 million during any of the years ended December 31, 2020, 2019 or 2018 or $25 million during any quarterly period in 2020 or 2019.

(4)Products included within Other Sterile Injectables include ephedrine sulfate injection and others.

(5)The Generic Pharmaceuticals segment is comprised of a portfolio of products that are generic versions of branded products, are distributed primarily through the same wholesalers, generally have no intellectual property protection and are sold within the U.S. During the year ended December 31, 2019, colchicine tablets (the authorized generic of Takeda’s Colcrys®), which launched in July 2018, made up 6% of consolidated total revenues. No other individual product within this segment has exceeded 5% of consolidated total revenues for the periods presented.

(6)The International Pharmaceuticals segment, which accounted for less than 5% of consolidated total revenues for each of the periods presented, includes a variety of specialty pharmaceutical products sold outside the U.S., primarily in Canada through our operating company Paladin.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 26
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Fair Value Measurements

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

NOTE 7. FAIR VALUE MEASUREMENTS

Fair value guidance establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include:

•Level 1—Quoted prices in active markets for identical assets or liabilities.

•Level 2—Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

•Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

Financial Instruments

The financial instruments recorded in our Consolidated Balance Sheets include cash and cash equivalents, restricted cash and cash equivalents, accounts receivable, equity method investments, accounts payable and accrued expenses, acquisition-related contingent consideration and debt obligations. Included in cash and cash equivalents and restricted cash and cash equivalents are money market funds representing a type of mutual fund required by law to invest in low-risk securities (for example, U.S. government bonds, U.S. Treasury Bills and commercial paper). Money market funds pay dividends that generally reflect short-term interest rates. Due to their initial maturities, the carrying amounts of non-restricted and restricted cash and cash equivalents (including money market funds), accounts receivable, accounts payable and accrued expenses approximate their fair values.

Restricted Cash and Cash Equivalents

The following table presents current and noncurrent restricted cash and cash equivalent balances at December 31, 2020 and December 31, 2019 (in thousands):


	Consolidated Balance Sheets Line Items	December 31, 2020		December 31, 2019
Restricted cash and cash equivalents—current	Restricted cash and cash equivalents	$	171,563	$	247,457
Restricted cash and cash equivalents—noncurrent	Other assets	—		18,400
Total restricted cash and cash equivalents		$	171,563	$	265,857

The restricted cash and cash equivalents amounts primarily relate to litigation-related matters, including approximately $127.0 million and $242.8 million held in QSFs for mesh-related matters at December 31, 2020 and December 31, 2019, respectively. See Note 16. Commitments and Contingencies for further information about mesh-related and other litigation-related matters. Additionally, at December 31, 2020, approximately $25.0 million of restricted cash and cash equivalents related to certain insurance-related matters.

Acquisition-Related Contingent Consideration

The fair value of contingent consideration liabilities is determined using unobservable inputs; hence, these instruments represent Level 3 measurements within the above-defined fair value hierarchy. These inputs include the estimated amount and timing of projected cash flows, the probability of success (achievement of the contingent event) and the risk-adjusted discount rate used to present value the probability-weighted cash flows. Subsequent to the acquisition date, at each reporting period, the contingent consideration liability is remeasured at current fair value with changes recorded in earnings. The estimates of fair value are uncertain and changes in any of the estimated inputs used as of the date of this report could have resulted in significant adjustments to fair value. See the “Recurring Fair Value Measurements” section below for additional information on acquisition-related contingent consideration.

Recurring Fair Value Measurements

The Company’s financial assets and liabilities measured at fair value on a recurring basis at December 31, 2020 and December 31, 2019 were as follows (in thousands):


	Fair Value Measurements at December 31, 2020 using:
	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total
Assets:
Money market funds	$	214,120	$	—	$	—	$	214,120
Liabilities:
Acquisition-related contingent consideration—current	$	—	$	—	$	8,566	$	8,566
Acquisition-related contingent consideration—noncurrent	$	—	$	—	$	27,683	$	27,683


	Fair Value Measurements at December 31, 2019 using:
	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total
Assets:
Money market funds	$	427,033	$	—	$	—	$	427,033
Liabilities:
Acquisition-related contingent consideration—current	$	—	$	—	$	6,534	$	6,534
Acquisition-related contingent consideration—noncurrent	$	—	$	—	$	23,123	$	23,123

At December 31, 2020 and December 31, 2019, money market funds include $26.5 million and $70.2 million, respectively, in QSFs to be disbursed to mesh-related or other product liability claimants. Amounts in QSFs are considered restricted cash equivalents. See Note 16. Commitments and Contingencies for further discussion of our product liability cases. At December 31, 2020 and December 31, 2019, the differences between the amortized cost and the fair value of our money market funds were not material, individually or in the aggregate.

Fair Value Measurements Using Significant Unobservable Inputs

The following table presents changes to the Company’s liability for acquisition-related contingent consideration, which is measured at fair value on a recurring basis using significant unobservable inputs (Level 3), for the years ended December 31, 2020 and 2019 (in thousands):



	2020		2019
Beginning of period	$	29,657	$	116,703
Amounts settled	(9,885)		(41,448)
Changes in fair value recorded in earnings	16,353		(46,098)
Effect of currency translation	124		500
End of period	$	36,249	$	29,657

At December 31, 2020, the fair value measurements of the contingent consideration obligations were determined using risk-adjusted discount rates ranging from approximately 10.0% to 15.0% (weighted average rate of approximately 11.8%, weighted based on relative fair value). Changes in fair value recorded in earnings related to acquisition-related contingent consideration are included in our Consolidated Statements of Operations as Acquisition-related and integration items, net. Amounts recorded for the current and noncurrent portions of acquisition-related contingent consideration are included in Accounts payable and accrued expenses and Other liabilities, respectively, in our Consolidated Balance Sheets.

The following table presents changes to the Company’s liability for acquisition-related contingent consideration during the year ended December 31, 2020 by acquisition (in thousands):


	Balance as of December 31, 2019		Changes in Fair Value Recorded in Earnings		Amounts Settled and Other		Balance as of December 31, 2020
Auxilium acquisition	$	13,207	$	2,921	$	(1,644)	$	14,484
Lehigh Valley Technologies, Inc. acquisitions	6,800		12,337		(6,037)		13,100

Other	9,650		1,095		(2,080)		8,665
Total	$	29,657	$	16,353	$	(9,761)	$	36,249

The following table presents changes to the Company’s liability for acquisition-related contingent consideration during the year ended December 31, 2019 by acquisition (in thousands):


	Balance as of December 31, 2018		Changes in Fair Value Recorded in Earnings		Amounts Settled and Other		Balance as of December 31, 2019
Auxilium acquisition	$	14,157	$	777	$	(1,727)	$	13,207
Lehigh Valley Technologies, Inc. acquisitions	34,700		(8,614)		(19,286)		6,800
VOLTAREN® Gel acquisition (1)	56,240		(37,184)		(18,870)		186
Other	11,606		(1,077)		(1,065)		9,464
Total	$	116,703	$	(46,098)	$	(40,948)	$	29,657

__________

(1)The change in fair value recorded in earnings includes the impact of certain competitive events occurring during 2019.

Nonrecurring Fair Value Measurements

The Company’s financial assets and liabilities measured at fair value on a nonrecurring basis during the years ended December 31, 2020 and 2019 were as follows (in thousands):


	Fair Value Measurements during the Year Ended December 31, 2020 (1) using:						Total Expense for the Year Ended December 31, 2020
	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs

Intangible assets, excluding goodwill (2)(3)	$	—	$	—	$	15,463	$	(79,917)
Certain property, plant and equipment	—		—		—		(1,249)
Operating lease right-of-use assets	—		—		—		(6,392)
Total	$	—	$	—	$	15,463	$	(87,558)


	Fair Value Measurements during the Year Ended December 31, 2019 (1) using:						Total Expense for the Year Ended December 31, 2019
	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs

Intangible assets, excluding goodwill (3)	$	—	$	—	$	229,680	$	(347,706)
Certain property, plant and equipment	—		—		—		(6,468)
Total	$	—	$	—	$	229,680	$	(354,174)

__________

(1)The fair value amounts are presented as of the date of the fair value measurement as these assets are not measured at fair value on a recurring basis. Such measurements generally occur in connection with our quarter-end financial reporting close procedures.

(2)These fair value measurements were determined using risk-adjusted discount rates ranging from approximately 10.0% to 12.0% (weighted average rate of approximately 11.3%, weighted based on relative fair value).

(3)The Company also performed fair value measurements in connection with its goodwill impairment tests. Refer to Note 11. Goodwill and Other Intangibles for additional information on goodwill and other intangible asset impairment tests, including information about the valuation methodologies utilized.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Inventories

12 Months Ended

Dec. 31, 2020

Inventory Disclosure [Abstract]

INVENTORIES

NOTE 8. INVENTORIES

Inventories consist of the following at December 31, 2020 and December 31, 2019 (in thousands):


	December 31, 2020		December 31, 2019
Raw materials (1)	$	99,495	$	124,171
Work-in-process (1)	98,753		65,392
Finished goods (1)	154,012		138,302
Total	$	352,260	$	327,865

__________

(1)The components of inventory shown in the table above are net of allowance for obsolescence.

Inventory that is in excess of the amount expected to be sold within one year is classified as noncurrent inventory and is not included in the table above. At December 31, 2020 and December 31, 2019, $13.2 million and $29.0 million, respectively, of noncurrent inventory was included in Other assets in the Consolidated Balance Sheets. As of December 31, 2020 and December 31, 2019, the Company’s Consolidated Balance Sheets included approximately $37.5 million and $17.6 million, respectively, of capitalized pre-launch inventories related to products that were not yet available to be sold.

Leases

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

LEASES

NOTE 9. LEASES

We have entered into contracts with third parties to lease a variety of assets, including certain real estate, machinery, equipment, automobiles and other assets.

Our leases frequently allow for lease payments that could vary based on factors such as inflation or the degree of utilization of the underlying asset and the incurrence of contractual charges such as those for common area maintenance or utilities.

Renewal and/or early termination options are common in our lease arrangements, particularly with respect to our real estate leases. Our right-of-use assets and lease liabilities generally exclude periods covered by renewal options and include periods covered by early termination options (based on our conclusion that it is not reasonably certain that we will exercise such options).

Our most significant lease is for our Malvern, Pennsylvania location. The initial term of the lease is through 2024 and includes three renewal options, each for an additional 60-month period. These renewal options are not considered reasonably certain of exercise and are therefore excluded from the right-of-use asset and lease liability.

We are party to certain sublease arrangements, primarily related to our real estate leases, where we act as the lessee and intermediate lessor. For example, we sublease portions of our Malvern, Pennsylvania facility to multiple tenants through sublease arrangements ending in 2024, with certain limited renewal and early termination options.

The following table presents information about the Company’s right-of-use assets and lease liabilities at December 31, 2020 and December 31, 2019 (in thousands):


	Consolidated Balance Sheets Line Items	December 31, 2020		December 31, 2019
Right-of-use assets:
Operating lease right-of-use assets	Operating lease assets	$	37,030	$	51,700
Finance lease right-of-use assets	Property, plant and equipment, net	47,549		56,793
Total right-of-use assets		$	84,579	$	108,493
Operating lease liabilities:
Current operating lease liabilities	Current portion of operating lease liabilities	$	11,613	$	10,763
Noncurrent operating lease liabilities	Operating lease liabilities, less current portion	38,132		48,299
Total operating lease liabilities		$	49,745	$	59,062
Finance lease liabilities:
Current finance lease liabilities	Accounts payable and accrued expenses	$	6,227	$	5,672
Noncurrent finance lease liabilities	Other liabilities	25,027		31,312
Total finance lease liabilities		$	31,254	$	36,984

The following table presents information about lease costs and expenses and sublease income for the years ended December 31, 2020 and 2019 (in thousands):



	Consolidated Statements of Operations Line Items	2020		2019
Operating lease cost	Various (1)	$	14,175	$	13,648
Finance lease cost:
Amortization of right-of-use assets	Various (1)	$	9,244	$	9,407
Interest on lease liabilities	Interest expense, net	$	1,716	$	1,986
Other lease costs and income:
Variable lease costs (2)	Various (1)	$	10,305	$	9,653
Operating lease right-of-use asset impairment charges	Asset impairment charges	$	6,392	$	—
Sublease income	Various (1)	$	(3,803)	$	(3,689)

__________

(1)Amounts are included in the Consolidated Statements of Operations based on the function that the underlying leased asset supports. The following table presents the components of such aggregate amounts for the years ended December 31, 2020 and 2019 (in thousands):



	2020		2019
Cost of revenues	$	11,610	$	11,168
Selling, general and administrative	$	18,108	$	17,648
Research and development	$	203	$	203

(2)Amounts represent variable lease costs incurred that were not included in the initial measurement of the lease liability such as common area maintenance and utilities costs associated with leased real estate and certain costs associated with our automobile leases.

Expenses incurred under operating leases, determined in accordance with ASC 840, were $18.7 million in 2018.

The following table provides the undiscounted amount of future cash flows included in our lease liabilities at December 31, 2020 for each of the five years subsequent to December 31, 2020 and thereafter, as well as a reconciliation of such undiscounted cash flows to our lease liabilities at December 31, 2020 (in thousands):


	Operating Leases		Finance Leases
2021	$	14,012	$	7,590
2022	13,584		7,740
2023	10,438		7,894
2024	5,164		8,051
2025	4,203		909
Thereafter	11,017		12,299
Total future lease payments	$	58,418	$	44,483
Less: amount representing interest	8,673		13,229
Present value of future lease payments (lease liability)	$	49,745	$	31,254

The following table provides the weighted average remaining lease term and weighted average discount rates for our leases as of December 31, 2020 and December 31, 2019:


	December 31, 2020		December 31, 2019
Weighted average remaining lease term (years), weighted based on lease liability balances:
Operating leases	5.1 years		5.9 years
Finance leases	9.5 years		9.5 years
Weighted average discount rate (percentages), weighted based on the remaining balance of lease payments:
Operating leases	5.9	%	5.8	%
Finance leases	5.6	%	5.5	%

The following table provides certain cash flow and supplemental noncash information related to our lease liabilities for the years ended December 31, 2020 and 2019 (in thousands):



	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash payments for operating leases	$	14,598	$	14,940
Operating cash payments for finance leases	$	2,666	$	2,000
Financing cash payments for finance leases	$	4,884	$	9,196
Lease liabilities arising from obtaining right-of-use assets:
Operating leases	$	—	$	623
Finance leases	$	—	$	5,953

LEASES

NOTE 9. LEASES

We have entered into contracts with third parties to lease a variety of assets, including certain real estate, machinery, equipment, automobiles and other assets.

The following table presents information about the Company’s right-of-use assets and lease liabilities at December 31, 2020 and December 31, 2019 (in thousands):


	Consolidated Balance Sheets Line Items	December 31, 2020		December 31, 2019
Right-of-use assets:
Operating lease right-of-use assets	Operating lease assets	$	37,030	$	51,700
Finance lease right-of-use assets	Property, plant and equipment, net	47,549		56,793
Total right-of-use assets		$	84,579	$	108,493
Operating lease liabilities:
Current operating lease liabilities	Current portion of operating lease liabilities	$	11,613	$	10,763
Noncurrent operating lease liabilities	Operating lease liabilities, less current portion	38,132		48,299
Total operating lease liabilities		$	49,745	$	59,062
Finance lease liabilities:
Current finance lease liabilities	Accounts payable and accrued expenses	$	6,227	$	5,672
Noncurrent finance lease liabilities	Other liabilities	25,027		31,312
Total finance lease liabilities		$	31,254	$	36,984

The following table presents information about lease costs and expenses and sublease income for the years ended December 31, 2020 and 2019 (in thousands):



	Consolidated Statements of Operations Line Items	2020		2019
Operating lease cost	Various (1)	$	14,175	$	13,648
Finance lease cost:
Amortization of right-of-use assets	Various (1)	$	9,244	$	9,407
Interest on lease liabilities	Interest expense, net	$	1,716	$	1,986
Other lease costs and income:
Variable lease costs (2)	Various (1)	$	10,305	$	9,653
Operating lease right-of-use asset impairment charges	Asset impairment charges	$	6,392	$	—
Sublease income	Various (1)	$	(3,803)	$	(3,689)

__________



	2020		2019
Cost of revenues	$	11,610	$	11,168
Selling, general and administrative	$	18,108	$	17,648
Research and development	$	203	$	203

Expenses incurred under operating leases, determined in accordance with ASC 840, were $18.7 million in 2018.


	Operating Leases		Finance Leases
2021	$	14,012	$	7,590
2022	13,584		7,740
2023	10,438		7,894
2024	5,164		8,051
2025	4,203		909
Thereafter	11,017		12,299
Total future lease payments	$	58,418	$	44,483
Less: amount representing interest	8,673		13,229
Present value of future lease payments (lease liability)	$	49,745	$	31,254

The following table provides the weighted average remaining lease term and weighted average discount rates for our leases as of December 31, 2020 and December 31, 2019:


	December 31, 2020		December 31, 2019
Weighted average remaining lease term (years), weighted based on lease liability balances:
Operating leases	5.1 years		5.9 years
Finance leases	9.5 years		9.5 years
Weighted average discount rate (percentages), weighted based on the remaining balance of lease payments:
Operating leases	5.9	%	5.8	%
Finance leases	5.6	%	5.5	%

The following table provides certain cash flow and supplemental noncash information related to our lease liabilities for the years ended December 31, 2020 and 2019 (in thousands):



	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash payments for operating leases	$	14,598	$	14,940
Operating cash payments for finance leases	$	2,666	$	2,000
Financing cash payments for finance leases	$	4,884	$	9,196
Lease liabilities arising from obtaining right-of-use assets:
Operating leases	$	—	$	623
Finance leases	$	—	$	5,953

Property, Plant And Equipment

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

NOTE 10. PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment, net consists of the following at December 31, 2020 and December 31, 2019 (in thousands):


	December 31, 2020		December 31, 2019
Land and buildings	$	291,212	$	285,866
Machinery and equipment	275,846		262,056
Leasehold improvements	74,506		70,324
Computer equipment and software	126,437		117,037
Furniture and fixtures	13,886		13,443
Assets under construction	84,759		73,213
Total property, plant and equipment, gross	$	866,646	$	821,939
Less: accumulated depreciation	(408,175)		(317,074)
Total property, plant and equipment, net	$	458,471	$	504,865

Depreciation expense was $91.3 million, $69.0 million and $101.4 million for the years ended December 31, 2020, 2019 and 2018, respectively.

During the years ended December 31, 2020, 2019 and 2018, the Company recorded property, plant and equipment impairment charges totaling $1.2 million, $6.5 million and $6.5 million, respectively. These charges are included in the Asset impairment charges line item in our Consolidated Statement of Operations and primarily reflect the write-off of certain property, plant and equipment.

At December 31, 2020 and December 31, 2019, $141.4 million and $104.3 million of the Company’s Property, plant and equipment, representing net book amounts, were located in India. At December 31, 2020 and December 31, 2019, there were no other material tangible long-lived assets located outside of the U.S., individually or in the aggregate.

Goodwill and Other Intangibles

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLES

NOTE 11. GOODWILL AND OTHER INTANGIBLES

Goodwill

Changes in the carrying amount of our goodwill for the years ended December 31, 2020 and 2019 were as follows (in thousands):


	Branded Pharmaceuticals		Sterile Injectables		Generic Pharmaceuticals		International Pharmaceuticals		Total
Goodwill as of December 31, 2018	$	828,818	$	2,731,193	$	151,108	$	53,517	$	3,764,636

Effect of currency translation	—		—		—		2,456		2,456
Goodwill impairment charges	—		—		(151,108)		(20,800)		(171,908)
Goodwill as of December 31, 2019	$	828,818	$	2,731,193	$	—	$	35,173	$	3,595,184
Effect of currency translation	—		—		—		(2,387)		(2,387)
Goodwill impairment charges	—		—		—		(32,786)		(32,786)
Goodwill as of December 31, 2020	$	828,818	$	2,731,193	$	—	$	—	$	3,560,011

The carrying amounts of goodwill at December 31, 2020 and December 31, 2019 are net of the following accumulated impairments (in thousands):


	Branded Pharmaceuticals		Sterile Injectables		Generic Pharmaceuticals		International Pharmaceuticals		Total
Accumulated impairment losses as of December 31, 2019	$	855,810	$	—	$	3,142,657	$	500,417	$	4,498,884
Accumulated impairment losses as of December 31, 2020	$	855,810	$	—	$	3,142,657	$	546,251	$	4,544,718

Other Intangible Assets

Changes in the amount of other intangible assets for the year ended December 31, 2020 are set forth in the table below (in thousands).


Cost basis:	Balance as of December 31, 2019		Acquisitions		Impairments		Other (1)		Effect of Currency Translation		Balance as of December 31, 2020
Indefinite-lived intangibles:
In-process research and development	$	93,900	$	—	$	—	$	(90,900)	$	—	$	3,000
Total indefinite-lived intangibles	$	93,900	$	—	$	—	$	(90,900)	$	—	$	3,000
Finite-lived intangibles:
Licenses (weighted average life of 14 years)	$	457,402	$	—	$	(15,000)	$	(3,172)	$	—	$	439,230
Tradenames	6,409		—		—		—		—		6,409
Developed technology (weighted average life of 11 years)	5,844,439		673,796		(64,917)		(15,428)		4,844		6,442,734
Total finite-lived intangibles (weighted average life of 11 years)	$	6,308,250	$	673,796	$	(79,917)	$	(18,600)	$	4,844	$	6,888,373
Total other intangibles	$	6,402,150	$	673,796	$	(79,917)	$	(109,500)	$	4,844	$	6,891,373

Accumulated amortization:	Balance as of December 31, 2019		Amortization		Impairments		Other (1)		Effect of Currency Translation		Balance as of December 31, 2020
Finite-lived intangibles:
Licenses	$	(410,336)	$	(8,029)	$	—	$	3,172	$	—	$	(415,193)
Tradenames	(6,409)		—		—		—		—		(6,409)
Developed technology	(3,414,138)		(419,514)		—		108,328		(3,639)		(3,728,963)
Total other intangibles	$	(3,830,883)	$	(427,543)	$	—	$	111,500	$	(3,639)	$	(4,150,565)
Net other intangibles	$	2,571,267									$	2,740,808

__________

(1)Amounts include reclassification adjustments of $90.9 million from In-process research and development to Developed technology for certain assets that were placed in service during the year ended December 31, 2020. The remaining amounts primarily relate to the removal of certain fully amortized Licenses and Developed technology intangible assets.

Amortization expense for the years ended December 31, 2020, 2019 and 2018 totaled $427.5 million, $543.9 million and $622.3 million, respectively. Amortization expense is included in Cost of revenues in the Consolidated Statements of Operations. For intangible assets subject to amortization, estimated amortization expense for the five fiscal years subsequent to December 31, 2020 is as follows (in thousands):


2021	$	374,337
2022	$	359,645
2023	$	316,292
2024	$	280,213
2025	$	258,486

Impairments

Goodwill and indefinite-lived intangible assets are tested for impairment annually and when events or changes in circumstances indicate that the asset might be impaired. Our annual assessment is performed as of October 1.

As part of our goodwill and intangible asset impairment assessments, we estimate the fair values of our reporting units and our intangible assets using an income approach that utilizes a discounted cash flow model or, where appropriate, a market approach.

The discounted cash flow models are dependent upon our estimates of future cash flows and other factors including estimates of (i) future operating performance, including future sales, long-term growth rates, operating margins, discount rates and the probability of achieving the estimated cash flows and (ii) future economic conditions. These assumptions are based on significant inputs not observable in the market and thus represent Level 3 measurements within the fair value hierarchy. The discount rates applied to the estimated cash flows for the Company’s October 1, 2020, 2019 and 2018 annual goodwill and indefinite-lived intangible assets impairment tests ranged from 10.0% to 15.0%, from 9.5% to 13.5% and from 9.5% to 11.5%, respectively, depending on the overall risk associated with the particular assets and other market factors. We believe the discount rates and other inputs and assumptions are consistent with those that a market participant would use. Any impairment charges resulting from annual or interim goodwill and intangible asset impairment assessments are recorded to Asset impairment charges in our Consolidated Statements of Operations.

During the years ended December 31, 2020, 2019 and 2018, the Company incurred the following goodwill and other intangible asset impairment charges (in thousands):



	2020		2019		2018
Goodwill impairment charges	$	32,786	$	171,908	$	680,000
Other intangible asset impairment charges	$	79,917	$	347,706	$	230,418

Except as described below, pre-tax non-cash asset impairment charges related primarily to certain in-process research and development and/or developed technology intangible assets that were tested for impairment following changes in market conditions and certain other factors impacting recoverability.

Annual Goodwill Impairment Tests

As a result of our annual test performed as of October 1, 2020, the Company determined that the estimated fair values of each of its reporting units exceeded their respective carrying amounts; therefore, the Company did not record any pre-tax non-cash goodwill impairment charges during the fourth quarter of 2020.

As a result of our annual test performed as of October 1, 2019, the Company determined that the carrying amount of the Paladin reporting unit exceeded its estimated fair value; therefore, the Company recorded a pre-tax non-cash goodwill impairment charge of $20.8 million during the fourth quarter of 2019. The Paladin impairment was primarily a result of certain anticipated product discontinuation activities. The impairment also reflects the estimated impact of Canadian pricing regulations that were issued in the second half of 2019. We did not record goodwill impairment charges for the other reporting units as a result of the 2019 annual tests.

As a result of our annual test performed as of October 1, 2018, the Company determined that the carrying amounts of the Generic Pharmaceuticals and Paladin reporting units exceeded their respective estimated fair values; therefore, the Company recorded pre-tax non-cash goodwill impairment charges of $258.0 million and $31.0 million, respectively, during the fourth quarter of 2018. The Generic Pharmaceuticals impairment can be primarily attributed to an increase in the discount rate used in the determination of fair value and unfavorable underlying business outlook assumption changes. The Paladin impairment was primarily a result of increased competition and slower than expected product launches in our Canadian market.

We did not record any other goodwill impairment charges as a result of our October 1, 2020, 2019 and 2018 annual impairment tests.

Other Impairment Tests

As a result of certain business decisions that occurred during the first quarter of 2020, we tested the goodwill of our Paladin reporting unit for impairment as of March 31, 2020. The fair value of the reporting unit was estimated using an income approach that utilized a discounted cash flow model. The discount rate utilized in this test was 9.5%. This goodwill impairment test resulted in a pre-tax non-cash goodwill impairment charge of $32.8 million during the three months ended March 31, 2020, representing the remaining carrying amount. This impairment was primarily attributable to portfolio decisions and updated market expectations during the quarter.

As a result of certain competitive events that occurred during the first quarter of 2019, we tested the goodwill of our Generic Pharmaceuticals reporting unit for impairment as of March 31, 2019. The fair value of the reporting unit was estimated using an income approach that utilized a discounted cash flow model. The discount rate utilized in this test was 10.5%. This goodwill impairment test resulted in a pre-tax non-cash goodwill impairment charge of $86.0 million during the three months ended March 31, 2019, representing the excess of this reporting unit’s carrying amount over its estimated fair value. This Generic Pharmaceuticals impairment can be primarily attributed to the impact of the competitive events referenced above and an increase in the discount rate used in the determination of fair value.

During the second quarter of 2019, unfavorable competitive and pricing events occurred that caused us to update certain assumptions from those used in our first-quarter 2019 Generic Pharmaceuticals goodwill impairment test. We considered these events, together with the fact that this reporting unit’s carrying amount equaled its fair value immediately subsequent to the first-quarter 2019 goodwill impairment charge, as part of our qualitative assessment of goodwill triggering events for the second quarter of 2019. As a result, we concluded that it was more likely than not that the fair value of this reporting unit was below its carrying amount as of June 30, 2019 and a goodwill impairment test was required. After performing this quantitative test, we determined that this reporting unit’s carrying amount exceeded its estimated fair value. The fair value of the reporting unit was estimated using an income approach that utilized a discounted cash flow model. The discount rate utilized in this test was 10.5%. Based on the excess of this reporting unit’s carrying amount over its estimated fair value, we recorded a pre-tax non-cash goodwill impairment charge of $65.1 million during the three months ended June 30, 2019, representing the entire remaining amount of this reporting unit’s goodwill.

During the first quarter of 2018, a change in segments resulted in changes to our reporting units for goodwill impairment testing purposes, including the creation of a new Sterile Injectables reporting unit, which was previously part of our Generics reporting unit. As a result of these changes, under U.S. GAAP, we tested the goodwill of the former Generics reporting unit immediately before the segment realignment and the goodwill of both the new Sterile Injectables and Generic Pharmaceuticals reporting units immediately after the segment realignment. These goodwill tests were performed using an income approach that utilized a discounted cash flow model. The results of these goodwill impairment tests were as follows:

•The former Generics reporting unit’s estimated fair value exceeded its carrying amount, resulting in no related goodwill impairment charge.

•The new Sterile Injectables reporting unit’s estimated fair value exceeded its carrying amount, resulting in no related goodwill impairment charge.

•The new Generic Pharmaceuticals reporting unit’s carrying amount exceeded its estimated fair value, resulting in a pre-tax non-cash goodwill impairment charge of $391.0 million.

We are closely monitoring the impact of COVID-19 on our business. It is possible that COVID-19 could result in reductions to the estimated fair values of our goodwill and other intangible assets, which could ultimately result in asset impairment charges that may be material.

License and Collaboration Agreements	12 Months Ended
License and Collaboration Agreements	Dec. 31, 2020
License And Collaboration Agreements [Abstract]
LICENSE AND COLLABORATION AGREEMENTS	NOTE 12. LICENSE AND COLLABORATION AGREEMENTS Our subsidiaries have entered into certain license, collaboration and discovery agreements with third parties for product development. These agreements require our subsidiaries to share in the development costs of such products and the third parties grant marketing rights to our subsidiaries for such products. Generally, under these agreements: (i) we are required to make upfront payments and other payments upon successful completion of regulatory or sales milestones and/or (ii) we are required to pay royalties on sales of the products arising from these agreements. BioSpecifics Until the acquisition of BioSpecifics in December 2020, the Company, through an affiliate, was party to a development and license agreement, as amended (the BioSpecifics License Agreement) with BioSpecifics. The BioSpecifics License Agreement was originally entered into in June 2004 to obtain exclusive worldwide rights to develop, market and sell certain products containing BioSpecifics’ enzyme CCH. The Company’s licensed rights concerned the development and commercialization of products, other than dermal formulations labeled for topical administration, including the indications of DC, Dupuytren’s nodules, PD, adhesive capsulitis, cellulite, plantar fibromatosis, lateral hip fat and other potential indications. Until the acquisition of BioSpecifics in December 2020, we were required to, among other things, pay BioSpecifics on a country-by-country and product-by-product basis a specified percentage within a range of 5% to 15% of net sales for products covered by the BioSpecifics License Agreement. This royalty applied to net sales by the Company and/or any of its sublicensees. In addition, the Company and its affiliates were required to pay BioSpecifics an amount equal to a specified mark-up on certain cost of goods related to supply of XIAFLEX® (which mark-up was capped at a specified percentage within the range of 5% to 15% of the cost of goods of XIAFLEX®) for products sold by the Company and its affiliates. In December 2020, we acquired BioSpecifics, which eliminated this third-party relationship. See Note 5. Acquisitions for further discussion of the BioSpecifics acquisition. Nevakar, Inc. During the second quarter of 2018, we entered into a development, license and commercialization agreement with Nevakar, Inc. related to five sterile injectable product candidates. Pursuant to this agreement, Nevakar, Inc. will generally be responsible, at its expense, to develop and seek regulatory approval for these product candidates, and the Company will generally be responsible, at its expense, to launch and distribute any products that are approved. The Company will have exclusive license rights to all of these products launched in the U.S. and a first right of refusal for the Canadian territory. Upon entering into this agreement, the Company became obligated to make an upfront payment, which was recorded as R&D expense in the Consolidated Statements of Operations during the three months ended June 30, 2018. The Company could become obligated to make additional payments based on certain potential future milestones being achieved.

Contract Assets and Liabilities

12 Months Ended

Dec. 31, 2020

Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]

CONTRACT ASSETS AND LIABILITIES

NOTE 13. CONTRACT ASSETS AND LIABILITIES

Our revenue consists almost entirely of sales of our pharmaceutical products to customers, whereby we ship products to a customer pursuant to a purchase order. Revenue contracts such as these do not generally give rise to contract assets or contract liabilities because: (i) the underlying contracts generally have only a single performance obligation and (ii) we do not generally receive consideration until the performance obligation is fully satisfied. At December 31, 2020, the unfulfilled performance obligations for these types of contracts relate to ordered but undelivered products. We generally expect to fulfill the performance obligations and recognize revenue within one week of entering into the underlying contract. Based on the short-term initial contract duration, additional disclosure about the remaining performance obligations is not required.

Certain of our other revenue-generating contracts, including license and collaboration agreements, may result in contract assets and/or contract liabilities. For example, we may recognize contract liabilities upon receipt of certain upfront and milestone payments from customers when there are remaining performance obligations.

The following table shows the opening and closing balances of contract assets and contract liabilities from contracts with customers (dollars in thousands):


	December 31, 2020		December 31, 2019		$ Change		% Change
Contract assets, net (1)	$	13,525	$	—	$	13,525	NM
Contract liabilities, net (2)	$	6,028	$	6,592	$	(564)	(9)	%

__________

NM indicates that the percentage change is not meaningful or is greater than 100%.

(1)At December 31, 2020, approximately $3.2 million of this contract asset amount is classified as current and is included in Prepaid expenses and other current assets in the Company’s Consolidated Balance Sheets. The remaining amount is classified as noncurrent and is included in Other assets. The net increase in contract assets during the year ended December 31, 2020 was primarily due to the Company’s estimated consideration for the sale of certain intellectual property rights.

(2)At December 31, 2020 and December 31, 2019, approximately $1.4 million and $1.4 million, respectively, of these contract liability amounts are classified as current and are included in Accounts payable and accrued expenses in the Company’s Consolidated Balance Sheets. The remaining amounts are classified as noncurrent and are included in Other liabilities. The decrease in contract liabilities during the year ended December 31, 2020 was primarily due to approximately $2.8 million in revenue recognized during the period, partially offset by a new agreement entered into during 2020.

During the year ended December 31, 2020, we recognized revenue of $19.1 million relating to performance obligations satisfied, or partially satisfied, in prior periods. Such revenue generally relates to changes in estimates with respect to our variable consideration.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Accounts Payable and Accrued Expenses

12 Months Ended

Dec. 31, 2020

Accounts Payable and Accrued Liabilities, Current [Abstract]

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

NOTE 14. ACCOUNTS PAYABLE AND ACCRUED EXPENSES

Accounts payable and accrued expenses include the following at December 31, 2020 and December 31, 2019 (in thousands):


	December 31, 2020		December 31, 2019
Trade accounts payable	$	94,408	$	101,532
Returns and allowances	207,916		206,248
Rebates	126,644		129,056
Chargebacks	2,177		1,594
Accrued interest	98,105		112,860
Accrued payroll and related benefits	130,092		79,869
Accrued royalties and other distribution partner payables	59,745		115,816
Acquisition-related contingent consideration—current	8,566		6,534
Other	108,287		146,440
Total	$	835,940	$	899,949

Debt

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

DEBT

NOTE 15. DEBT

The following table presents information about the Company’s total indebtedness at December 31, 2020 and December 31, 2019 (dollars in thousands):


	December 31, 2020						December 31, 2019
	Effective Interest Rate		Principal Amount		Carrying Amount		Effective Interest Rate		Principal Amount		Carrying Amount
7.25% Senior Notes due 2022	7.25	%	$	8,294	$	8,294	7.25	%	$	8,294	$	8,294
5.75% Senior Notes due 2022	5.75	%	172,048		172,048		5.75	%	182,479		182,479
5.375% Senior Notes due 2023	5.62	%	6,127		6,098		5.62	%	210,440		209,018
6.00% Senior Notes due 2023	6.28	%	56,436		56,063		6.28	%	1,439,840		1,426,998
5.875% Senior Secured Notes due 2024	6.14	%	300,000		297,267		6.14	%	300,000		296,647
6.00% Senior Notes due 2025	6.27	%	21,578		21,366		6.27	%	1,200,000		1,185,726
7.50% Senior Secured Notes due 2027	7.70	%	2,015,479		1,995,142		7.71	%	1,500,000		1,482,212
9.50% Senior Secured Second Lien Notes due 2027	9.68	%	940,590		932,395				—		—
6.00% Senior Notes due 2028	6.11	%	1,260,416		1,251,725				—		—
Term Loan Facility	5.21	%	3,295,475		3,274,330		6.21	%	3,329,625		3,302,675
Revolving Credit Facility	2.69	%	300,000		300,000		4.25	%	300,000		300,000

Total long-term debt, net			$	8,376,443	$	8,314,728			$	8,470,678	$	8,394,049
Less current portion, net			34,150		34,150				34,150		34,150
Total long-term debt, less current portion, net			$	8,342,293	$	8,280,578			$	8,436,528	$	8,359,899

The Company and its subsidiaries, with certain customary exceptions, guarantee or serve as issuers or borrowers of the debt instruments representing substantially all of the Company’s indebtedness at December 31, 2020. The obligations under (i) the 5.875% Senior Secured Notes due 2024, (ii) the 7.50% Senior Secured Notes due 2027 and (iii) the Credit Agreement and related loan documents are secured on a pari passu basis by a perfected first priority lien (subject to certain permitted liens) on the collateral securing such instruments, which collateral represents substantially all of the assets of the issuers or borrowers and the guarantors party thereto (subject to customary exceptions). The obligations under the 9.50% Senior Secured Second Lien Notes due 2027 are secured by a second priority lien (subject to certain permitted liens) on, and on a junior basis with respect to, the collateral securing the obligations under the Credit Agreement, the 5.875% Senior Secured Notes due 2024 and the 7.50% Senior Secured Notes due 2027 and the related guarantees. Our senior unsecured notes are unsecured and effectively subordinated in right of priority to the Credit Agreement, the 5.875% Senior Secured Notes due 2024, the 7.50% Senior Secured Notes due 2027 and the 9.50% Senior Secured Second Lien Notes due 2027, in each case to the extent of the value of the collateral securing such instruments.

The aggregate estimated fair value of the Company’s long-term debt, which was estimated using inputs based on quoted market prices for the same or similar debt issuances, was $8.4 billion and $7.4 billion at December 31, 2020 and December 31, 2019, respectively. Based on this valuation methodology, we determined these debt instruments represent Level 2 measurements within the fair value hierarchy.

Credit Facilities

The Company and certain of its subsidiaries are party to a credit agreement (as amended from time to time, the Credit Agreement), which provides for (i) a $1,000.0 million senior secured revolving credit facility (the Revolving Credit Facility) and (ii) a senior secured term loan facility in an initial principal amount of $3,415.0 million (the Term Loan Facility and, together with the Revolving Credit Facility, the Credit Facilities). Current amounts outstanding under the Credit Facilities are set forth in the table above. After giving effect to borrowings under the Revolving Credit Facility and issued and outstanding letters of credit, approximately $695.5 million of remaining credit is available under the Revolving Credit Facility as of December 31, 2020. The Company’s outstanding debt agreements contain a number of restrictive covenants, including certain limitations on the Company’s ability to incur additional indebtedness.

The Credit Agreement contains affirmative and negative covenants that the Company believes to be customary for a senior secured credit facility of this type. The negative covenants include, among other things, limitations on asset sales, mergers and acquisitions, indebtedness, liens, dividends and other restricted payments, investments and transactions with the Company’s affiliates. As of December 31, 2020 and December 31, 2019, we were in compliance with all such covenants.

In addition, after each fiscal year-end, the Company is required to perform a calculation of Excess Cash Flow (as defined in the Credit Agreement), which could result in certain pre-payments of the principal relating to the Term Loan Facility in accordance with the terms of the Credit Agreement. No such payment is required at December 31, 2020.

The commitments under the Revolving Credit Facility generally mature in 2024, with the exception of $76.0 million of commitments that mature in 2022. Principal payments on the Term Loan Facility equal to 0.25% of the initial principal amount are generally payable quarterly until the Term Loan Facility’s ultimate maturity date in 2024, at which time the remaining principal amount outstanding will be payable. However, with certain exceptions set forth in the Credit Agreement, maturities under the Credit Facilities will be accelerated if any of the following of our senior notes are not refinanced or repaid in full at least 91 days prior to the respective maturity dates thereof:


Instrument						Maturity Date
7.25% Senior Notes due 2022						January 15, 2022
5.75% Senior Notes due 2022						January 15, 2022
5.375% Senior Notes due 2023						January 15, 2023
6.00% Senior Notes due 2023						July 15, 2023

Borrowings under the Revolving Credit Facility bear interest, at the borrower’s election, at a rate equal to (i) an applicable margin between 1.50% and 3.00% depending on the Company’s Total Net Leverage Ratio plus LIBOR or (ii) an applicable margin between 0.50% and 2.00% depending on the Company’s Total Net Leverage Ratio plus the Alternate Base Rate (as defined in the Credit Agreement). In addition, borrowings under our Term Loan Facility bear interest, at the borrower’s election, at a rate equal to (i) 4.25% plus LIBOR, subject to a LIBOR floor of 0.75%, or (ii) 3.25% plus the Alternate Base Rate, subject to an Alternate Base Rate floor of 1.75%.

Senior Notes and Senior Secured Notes

Our various senior notes and senior secured notes mature between 2022 and 2028. The indentures governing these notes generally allow for redemption prior to maturity, in whole or in part, subject to certain restrictions and limitations described therein, in the following ways:

•Until a date specified in each indenture (the Non-Call Period), the notes may be redeemed, in whole or in part, by paying the sum of: (i) 100% of the principal amount being redeemed, (ii) an applicable make-whole premium as described in each indenture and (iii) accrued and unpaid interest to, but excluding, the redemption date. As of December 31, 2020, the Non-Call Period has expired for each of our notes except for the 7.50% Senior Secured Notes due 2027, the 9.50% Senior Secured Second Lien Notes due 2027 and the 6.00% Senior Notes due 2028.

•After the Non-Call Period specified in each indenture, the notes may be redeemed, in whole or in part, at redemption prices set forth in each indenture, plus accrued and unpaid interest to, but excluding, the redemption date. The redemption prices for each of our notes vary over time. The redemption prices pursuant to this clause range from 100.000% to 107.125% of principal at December 31, 2020; however, these redemption prices generally decrease to 100% of the principal amount of the applicable notes over time as the notes approach maturity pursuant to a step-down schedule set forth in each of the indentures.

•Until a date specified in each indenture, the notes may be redeemed, in part (up to 35% or 40% of the principal amount outstanding as specified in each indenture), with the net cash proceeds from specified equity offerings at redemption prices set forth in each indenture, plus accrued and unpaid interest to, but excluding, the redemption date. As of December 31, 2020, this clause has expired for each of our notes except for the 7.50% Senior Secured Notes due 2027, the 9.50% Senior Secured Second Lien Notes due 2027 and the 6.00% Senior Notes due 2028, for which the specified redemption premiums are 107.500%, 109.500% and 106.000%, respectively.

We have eliminated substantially all of the restrictive covenants and certain events of default in the indentures governing our senior unsecured notes, except for those in the 6.00% Senior Notes due 2028 indenture.

The indentures governing our various senior secured notes and the 6.00% Senior Notes due 2028 contain affirmative and negative covenants that the Company believes to be customary for similar indentures. Under these indentures, the negative covenants, among other things, restrict the Company’s ability and the ability of its restricted subsidiaries (as defined in the indentures) to incur certain additional indebtedness and issue preferred stock; make certain dividends, distributions, investments and other restricted payments; sell certain assets; enter into sale and leaseback transactions; agree to certain restrictions on the ability of restricted subsidiaries to make certain payments to the Company or any of its restricted subsidiaries; create certain liens; merge, consolidate or sell all or substantially all of the Company’s assets; enter into certain transactions with affiliates or designate subsidiaries as unrestricted subsidiaries. These covenants are subject to a number of exceptions and qualifications, including the fall away or revision of certain of these covenants and release of collateral in the case of the senior secured notes, upon the notes receiving investment grade credit ratings. At December 31, 2020 and December 31, 2019, we were in compliance with all covenants contained in the indentures governing our various senior notes and senior secured notes. In addition, pursuant to the terms of the indentures governing certain of our senior unsecured notes, the restricted subsidiaries of Endo International plc, whose assets comprise substantially all of the Company’s consolidated total assets after intercompany eliminations, are subject to various restrictions limiting their ability to transfer assets in excess of certain thresholds to Endo International plc.

Debt Financing Transactions

Set forth below are certain disclosures relating to debt financing transactions that occurred during the years ended December 31, 2020, 2019 and 2018.

March 2019 Refinancing

In March 2019, the Company executed certain transactions (the March 2019 Refinancing Transactions) that included:

•entry into an amendment (the Revolving Credit Facility Amendment) to the Credit Agreement;

•issuance of $1,500.0 million of 7.50% Senior Secured Notes due 2027;

•repurchase of $1,642.2 million aggregate principal amount ($1,624.0 million aggregate carrying amount) of certain of the Company’s senior unsecured notes for $1,500.0 million in cash, excluding accrued interest (the Notes Repurchases); and

•solicitation of consents from the holders of the existing 7.25% Senior Notes due 2022 and 5.75% Senior Notes due 2022 to certain amendments to the indentures governing such notes, which eliminated substantially all of the restrictive covenants, certain events of default and other provisions contained in each such indenture.

The difference between the cash paid and the carrying amount of notes repurchased in the Notes Repurchases resulted in a $124.0 million gain. In connection with the March 2019 Refinancing Transactions, we also incurred costs and fees totaling $26.2 million, of which $4.2 million related to the Notes Repurchases, $19.1 million related to the 7.50% Senior Secured Notes due 2027 issuance and $2.9 million related to the Revolving Credit Facility Amendment. The costs incurred in connection with the Notes Repurchases were charged to expense in the first quarter of 2019 and recorded as a partial offset to the gain. The costs incurred in connection with the 7.50% Senior Secured Notes due 2027 issuance and the Revolving Credit Facility Amendment, together with previously deferred debt issuance costs associated with the Revolving Credit Facility, have been deferred to be amortized as interest expense over the terms of the respective instruments. The net gain resulting from the March 2019 Refinancing Transactions was included in the Gain on extinguishment of debt line item in the Consolidated Statements of Operations.

June 2019 Revolving Credit Facility Borrowing

In June 2019, the Company borrowed $300.0 million under the Revolving Credit Facility to be used for purposes consistent with the Company’s capital allocation priorities, including for general corporate purposes.

June 2020 Refinancing

In June 2020, the Company executed certain transactions (the June 2020 Refinancing Transactions) that included: (i) the solicitation of consents from the holders of the Old Notes (as defined below) to certain amendments to the indentures governing such notes, which, pursuant to a supplemental indenture to each such indenture executed by the respective issuers and guarantors, eliminated substantially all of the restrictive covenants, certain events of default and other provisions contained in each such indenture and (ii) the exchanges (collectively, the Exchange Offers), by certain of the Company’s wholly-owned subsidiaries, of the following:

•$204.3 million aggregate principal amount of outstanding 5.375% Senior Notes due 2023, issued by Endo Finance LLC (Endo Finance) and Endo Finco Inc. (Endo Finco) (the Old 5.375% 2023 Notes);

•$1,383.4 million aggregate principal amount of outstanding 6.00% Senior Notes due 2023, co-issued by Endo Designated Activity Company (Endo DAC), Endo Finance and Endo Finco (the Old 6.00% 2023 Notes); and

•$1,178.4 million aggregate principal amount of outstanding 6.00% Senior Notes due 2025, co-issued by Endo DAC, Endo Finance and Endo Finco (the Old 6.00% 2025 Notes, and collectively with the Old 5.375% 2023 Notes and Old 6.00% 2023 Notes, the Old Notes)

for:

•$515.5 million aggregate principal amount of additional 7.50% Senior Secured Notes due 2027 issued by PPI (the Additional 7.50% Senior Secured Notes due 2027);

•$940.6 million aggregate principal amount of new 9.50% Senior Secured Second Lien Notes due 2027 co-issued by Endo DAC, Endo Finance and Endo Finco (together with the Additional 7.50% Senior Secured Notes due 2027, the New Secured Notes);

•$1,260.4 million aggregate principal amount of new 6.00% Senior Notes due 2028 co-issued by Endo DAC, Endo Finance and Endo Finco (collectively with the Additional 7.50% Senior Secured Notes due 2027 and the 9.50% Senior Secured Second Lien Notes due 2027, the New Senior Notes); and

•$47.2 million in cash.

The New Senior Notes were issued in a private offering to “qualified institutional buyers” (as defined in Rule 144A under the Securities Act) and outside the U.S. to non-U.S. persons in compliance with Regulation S under the Securities Act.

The Additional 7.50% Senior Secured Notes due 2027 are an additional issuance of our existing $1,500.0 million aggregate principal amount of 7.50% Senior Secured Notes due 2027 issued on March 28, 2019, which we refer to collectively as the 7.50% Senior Secured Notes due 2027. The 7.50% Senior Secured Notes due 2027 are guaranteed on a senior secured basis by the Company and its subsidiaries that also guarantee the Credit Agreement (collectively, the Guarantors). The 7.50% Senior Secured Notes due 2027 are senior secured obligations of PPI and the Guarantors and are secured by the same collateral that secures the Credit Agreement and the Company’s existing senior secured notes. Interest on the Additional 7.50% Senior Secured Notes due 2027 is payable semiannually in arrears on April 1 and October 1 of each year, beginning on October 1, 2020. The 7.50% Senior Secured Notes due 2027 will mature on April 1, 2027 but may be redeemed earlier, in whole or in part, subject to limitations as described in the indenture.

The 9.50% Senior Secured Second Lien Notes due 2027 are guaranteed on a senior secured second lien basis by the Company and the Guarantors. The 9.50% Senior Secured Second Lien Notes due 2027 are senior secured second lien obligations of Endo DAC, Endo Finance, Endo Finco and the Guarantors and are secured by a second priority lien on, and on a junior basis with respect to, the same collateral that secures the Credit Agreement and the Company’s existing senior secured notes. Interest on the 9.50% Senior Secured Second Lien Notes due 2027 is payable semiannually in arrears on January 31 and July 31 of each year, beginning on January 31, 2021. The 9.50% Senior Secured Second Lien Notes due 2027 will mature on July 31, 2027 but may be redeemed earlier, in whole or in part, subject to limitations as described in the indenture.

The 6.00% Senior Notes due 2028 are unsecured and effectively subordinated to all of our existing and future secured indebtedness (including the obligations under the Credit Agreement, the existing secured notes and the New Secured Notes) to the extent of the value of the collateral securing such instruments. Interest on the 6.00% Senior Notes due 2028 is payable semiannually in arrears on June 30 and December 30 of each year, beginning on December 30, 2020. The 6.00% Senior Notes due 2028 will mature on June 30, 2028 but may be redeemed earlier, in whole or in part, subject to limitations as described in the indenture.

The June 2020 Refinancing Transactions were accounted for as debt modifications. Previously deferred and unamortized amounts associated with the Old Notes exchanged will be amortized over the respective terms of the New Senior Notes. In connection with the June 2020 Refinancing Transactions, we incurred fees to third parties of approximately $31.1 million, which were charged to expense and included in Selling, general and administrative expenses in the Consolidated Statements of Operations.

August 2020 Tender Offer

In August 2020, Endo Finance repurchased and retired approximately $10 million aggregate principal of 5.75% Senior Notes due 2022 pursuant to a tender offer (the August 2020 Tender Offer).

Maturities

The following table presents, as of December 31, 2020, the maturities on our long-term debt for each of the five fiscal years subsequent to December 31, 2020 (in thousands):


	Maturities (1)
2021	$	34,150
2022 (2)	$	237,292
2023	$	96,713
2024 (2)	$	3,770,225
2025	$	21,578

__________

(1)Certain amounts borrowed pursuant to the Credit Facilities will immediately mature if certain of our senior notes are not refinanced or repaid in full prior to the date that is 91 days prior to the respective stated maturity dates thereof. Accordingly, we may seek to repay or refinance certain senior notes prior to their stated maturity dates. The amounts in this maturities table do not reflect any such early repayment or refinancing; rather, they reflect stated maturity dates.

(2)Based on the Company’s borrowings under the Revolving Credit Facility that were outstanding at December 31, 2020, $22.8 million will mature in 2022, with the remainder maturing in 2024.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 16. COMMITMENTS AND CONTINGENCIES

Manufacturing, Supply and Other Service Agreements

Our subsidiaries contract with various third party manufacturers, suppliers and service providers to provide raw materials used in our subsidiaries’ products and semi-finished and finished goods, as well as certain packaging, labeling services, customer service support, warehouse and distribution services. If, for any reason, we are unable to obtain sufficient quantities of any of the finished goods or raw materials or components required for our products or services needed to conduct our business, it could have a material adverse effect on our business, financial condition, results of operations and cash flows.

In addition to the manufacturing and supply agreements described above, we have agreements with various companies for clinical development and certain other services. Although we have no reason to believe that the parties to these agreements will not meet their obligations, failure by any of these third parties to honor their contractual obligations may have a material adverse effect on our business, financial condition, results of operations and cash flows.

Jubilant HollisterStier Laboratories LLC (JHS)

During the second quarter of 2016, we entered into an agreement with JHS (the JHS Agreement). Pursuant to the JHS Agreement, JHS fills and lyophilizes the XIAFLEX® bulk drug substance, which is manufactured by the Company, and produces sterile diluent. The initial term of the JHS Agreement is three years, with automatic renewal provisions thereafter for subsequent one-year terms, unless or until either party provides notification prior to expiration of the then current term of the contract. The Company is required to purchase a specified percentage of its total forecasted volume of XIAFLEX® from JHS each year, unless JHS is unable to supply XIAFLEX® within the timeframe established under such forecasts. Amounts purchased pursuant to the JHS Agreement were $6.8 million, $8.6 million and $7.5 million for the years ended December 31, 2020, 2019 and 2018, respectively.

Legal Proceedings and Investigations

We and certain of our subsidiaries are involved in various claims, legal proceedings and internal and governmental investigations (collectively, proceedings) arising from time to time, including, among others, those relating to product liability, intellectual property, regulatory compliance, consumer protection, tax and commercial matters. While we cannot predict the outcome of these proceedings and we intend to vigorously prosecute or defend our position as appropriate, there can be no assurance that we will be successful or obtain any requested relief. An adverse outcome in any of these proceedings could have a material adverse effect on our business, financial condition, results of operations and cash flows. We are subject to a number of matters that are not being disclosed herein because, in the opinion of our management, these matters are immaterial both individually and in the aggregate with respect to our financial position, results of operations and cash flows.

We believe that certain settlements and judgments, as well as legal defense costs, relating to certain product liability or other matters are or may be covered in whole or in part under our insurance policies with a number of insurance carriers. In certain circumstances, insurance carriers reserve their rights to contest or deny coverage. We intend to contest vigorously any disputes with our insurance carriers and to enforce our rights under the terms of our insurance policies. Accordingly, we will record receivables with respect to amounts due under these policies only when the realization of the potential claim for recovery is considered probable. Amounts recovered under our insurance policies could be materially less than stated coverage limits and may not be adequate to cover damages, other relief and/or costs relating to claims. In addition, there is no guarantee that insurers will pay claims in the amounts that we expect or that coverage will otherwise be available. See the risk factor “We may not have and may be unable to obtain or maintain insurance adequate to cover potential liabilities” in Part I, Item 1A of this document for more information.

As of December 31, 2020, our accrual for loss contingencies totaled $372.1 million, the most significant components of which relate to product liability and related matters associated with transvaginal surgical mesh products, which we have not sold since March 2016. Although we believe there is a possibility that a loss in excess of the amount recognized exists, we are unable to estimate the possible loss or range of loss in excess of the amount recognized at this time. While the timing of the resolution of certain of the matters accrued for as loss contingencies remains uncertain and could extend beyond 12 months, as of December 31, 2020, the entire liability accrual amount is classified in the Current portion of legal settlement accrual in the Consolidated Balance Sheets.

Vaginal Mesh Matters

Since 2008, we and certain of our subsidiaries, including AMS (subsequently converted to Astora Women’s Health Holding LLC and merged into Astora Women’s Health LLC and referred to herein as AMS and/or Astora), have been named as defendants in multiple lawsuits in various state and federal courts in the U.S., Canada, Australia and other countries, alleging personal injury resulting from the use of transvaginal surgical mesh products designed to treat POP and SUI. We have not sold such products since March 2016. Plaintiffs claim a variety of personal injuries, including chronic pain, incontinence, inability to control bowel function and permanent deformities, and seek compensatory and punitive damages, where available.

Various Master Settlement Agreements (MSAs) and other agreements have resolved approximately 71,000 filed and unfiled U.S. mesh claims as of December 31, 2020. These MSAs and other agreements were entered into at various times between June 2013 and the present, were solely by way of compromise and settlement and were not an admission of liability or fault by us or any of our subsidiaries. All MSAs are subject to a process that includes guidelines and procedures for administering the settlements and the release of funds. In certain cases, the MSAs provide for the creation of QSFs into which the settlement funds will be deposited, establish participation requirements and allow for a reduction of the total settlement payment in the event participation thresholds are not met. Funds deposited in QSFs are considered restricted cash and/or restricted cash equivalents. Distribution of funds to any individual claimant is conditioned upon the receipt of documentation substantiating product use, the dismissal of any lawsuit and the release of the claim as to us and all affiliates. Prior to receiving funds, an individual claimant must represent and warrant that liens, assignment rights or other claims identified in the claims administration process have been or will be satisfied by the individual claimant. Confidentiality provisions apply to the settlement funds, amounts allocated to individual claimants and other terms of the agreements.

In October 2019, the Ontario Superior Court of Justice approved a class action settlement covering unresolved claims by Canadian women implanted with an AMS vaginal mesh device. Astora funded the settlement in February 2020.

The following table presents the changes in the QSFs and mesh liability accrual balances during the year ended December 31, 2020 (in thousands):


	Qualified Settlement Funds		Mesh Liability Accrual
Balance as of December 31, 2019	$	242,842	$	454,031
Additional charges	—		43,093
Cash contributions to Qualified Settlement Funds	7,215		—
Cash distributions to settle disputes from Qualified Settlement Funds	(123,803)		(123,803)
Cash distributions to settle disputes	—		(44,471)
Other (1)	744		2,071
Balance as of December 31, 2020	$	126,998	$	330,921

__________

(1)Amounts deposited in the QSFs may earn interest, which is generally used to pay administrative costs of the fund and is reflected in the table above as an increase to the QSF and Mesh Liability Accrual balances. Any interest remaining after all claims have been paid will generally be distributed to the claimants who participated in that settlement. Also included within this line are foreign currency adjustments for settlements not denominated in U.S. dollars.

Charges related to vaginal mesh liability and associated legal fees and other expenses for all periods presented are reported in Discontinued operations, net of tax in our Consolidated Statements of Operations.

As of December 31, 2020, the Company has made total cumulative mesh liability payments of approximately $3.6 billion, $127.0 million of which remains in the QSFs as of December 31, 2020. We currently expect to fund all of the remaining payments under all previously executed settlement agreements during 2021. As funds are disbursed out of the QSFs from time to time, the liability accrual will be reduced accordingly with a corresponding reduction to restricted cash and cash equivalents. In addition, we may pay cash distributions to settle disputes separate from the QSFs, which will also decrease the liability accrual and decrease cash and cash equivalents.

We were contacted in October 2012 regarding a civil investigation initiated by various U.S. state attorneys general into mesh products, including transvaginal surgical mesh products designed to treat POP and SUI. In November 2013, we received a subpoena relating to this investigation from the state of California, and we subsequently received additional subpoenas from California and other states. We are cooperating with the investigations.

We will continue to vigorously defend any unresolved claims and to explore other options as appropriate in our best interests. The earliest trial is currently scheduled for May 2021; however, the timing of trials is uncertain due to the impact of COVID-19 and other factors.

Similar matters may be brought by others or the foregoing matters may be expanded. We are unable to predict the outcome of these matters or to estimate the possible range of any additional losses that could be incurred.

Although the Company believes it has appropriately estimated the probable total amount of loss associated with all mesh-related matters as of the date of this report, litigation is ongoing in certain cases that have not settled, and it is reasonably possible that further claims may be filed or asserted and that adjustments to our overall liability accrual may be required. This could have a material adverse effect on our business, financial condition, results of operations and cash flows.

Opioid-Related Matters

Since 2014, multiple U.S. states as well as other governmental persons or entities and private plaintiffs in the U.S. and Canada have filed suit against us and/or certain of our subsidiaries, including EHSI, EPI, PPI, PPCI, Endo Generics Holdings, Inc. (EGHI), Vintage Pharmaceuticals, LLC, Generics Bidco I, LLC, DAVA Pharmaceuticals, LLC, PSP LLC and in Canada, Paladin, as well as various other manufacturers, distributors, pharmacies and/or others, asserting claims relating to defendants’ alleged sales, marketing and/or distribution practices with respect to prescription opioid medications, including certain of our products. As of February 18, 2021, filed cases in the U.S. of which we were aware include, but are not limited to, approximately 20 cases filed by or on behalf of states; approximately 2,890 cases filed by counties, cities, Native American tribes and/or other government-related persons or entities; approximately 300 cases filed by hospitals, health systems, unions, health and welfare funds or other third-party payers and approximately 185 cases filed by individuals. Certain of the cases have been filed as putative class actions. The Canadian cases include an action filed by British Columbia on behalf of a proposed class of all federal, provincial and territorial governments and agencies in Canada that paid healthcare, pharmaceutical and treatment costs related to opioids, an action filed by the City of Grand Prairie, Alberta on behalf of a proposed class of all local or municipal governments in Canada, as well as three additional putative class actions, filed in Ontario, Quebec and British Columbia, seeking relief on behalf of Canadian residents who were prescribed and/or consumed opioid medications.

The complaints in the cases assert a variety of claims, including but not limited to statutory claims asserting violations of public nuisance, consumer protection, unfair trade practices, racketeering, Medicaid fraud and/or drug dealer liability laws and/or common law claims for public nuisance, fraud/misrepresentation, strict liability, negligence and/or unjust enrichment. The claims are generally based on alleged misrepresentations and/or omissions in connection with the sale and marketing of prescription opioid medications and/or alleged failures to take adequate steps to identify and report suspicious orders and to prevent abuse and diversion. Plaintiffs generally seek various remedies including, without limitation, declaratory and/or injunctive relief; compensatory, punitive and/or treble damages; restitution, disgorgement, civil penalties, abatement, attorneys’ fees, costs and/or other relief.

Many of the U.S. cases have been coordinated in a federal multidistrict litigation (MDL) pending in the U.S. District Court for the Northern District of Ohio. Other cases are pending in various federal or state courts. The cases are at various stages in the litigation process. The first MDL trial, relating to the claims of two Ohio counties (Track One plaintiffs), was set for October 2019 but did not go forward after most defendants settled. EPI, EHSI, PPI and PPCI executed a settlement agreement with the Track One plaintiffs in September 2019 which provided for payments totaling $10 million and up to $1 million of VASOSTRICT® and/or ADRENALIN®. Under the settlement agreement, the Track One plaintiffs may be entitled to additional payments in the event of a comprehensive resolution of government-related opioid claims. The settlement agreement was solely by way of compromise and settlement and was not in any way an admission of liability or fault by us or any of our subsidiaries. The earliest trial is currently scheduled for April 2021; however, trials may occur earlier or later as timing remains uncertain due to the impact of COVID-19 and other factors. Most cases remain at the pleading and/or discovery stage. In February 2021, the MDL court declined to certify a proposed class of legal guardians of children born with neonatal abstinence syndrome; plaintiffs have filed a motion for reconsideration.

In September 2019, EPI, EHSI, PPI and PPCI received subpoenas from the New York State Department of Financial Services (DFS) seeking documents and information regarding the marketing, sale and distribution of opioid medications in New York. In June 2020, DFS commenced an administrative action against the Company, EPI, EHSI, PPI and PPCI alleging violations of the New York Insurance Law and New York Financial Services Law. The statement of charges alleges that fraudulent or otherwise wrongful conduct in the marketing, sale and/or distribution of opioid medications caused false claims to be submitted to insurers and seeks civil penalties for each allegedly fraudulent prescription as well as injunctive relief. The action is currently set for hearing in June 2021.

We will continue to vigorously defend the foregoing matters and to explore other options as appropriate in our best interests. Similar matters may be brought by others or the foregoing matters may be expanded. We are unable to predict the outcome of these matters or to estimate the possible range of any losses that could be incurred. Adjustments to our overall liability accrual may be required in the future, which could have a material adverse effect on our business, financial condition, results of operations and cash flows.

In addition to the lawsuits and administrative matters described above, the Company and/or its subsidiaries have received certain subpoenas, civil investigative demands (CIDs) and informal requests for information concerning the sale, marketing and/or distribution of prescription opioid medications, including the following:

Various state attorneys general have served subpoenas and/or CIDs on EHSI and/or EPI. We are cooperating with the investigations.

In January 2018, EPI received a federal grand jury subpoena from the U.S. District Court for the Southern District of Florida seeking documents and information related to OPANA® ER, other oxymorphone products and marketing of opioid medications. We are cooperating with the investigation.

In December 2020, the Company received an administrative subpoena issued by the U.S. Attorney’s Office for the Western District of Virginia seeking documents related to McKinsey & Company. We are cooperating with the investigation.

Similar investigations may be brought by others or the foregoing matters may be expanded or result in litigation. We are unable to predict the outcome of these matters or to estimate the possible range of any losses that could be incurred. Adjustments to our overall liability accrual may be required in the future, which could have a material adverse effect on our business, financial condition, results of operations and cash flows.

In January 2020, EPI and PPI executed a settlement agreement with the state of Oklahoma providing for a payment of approximately $8.75 million in resolution of potential opioid-related claims. The settlement agreement was solely by way of compromise and settlement and was not in any way an admission of liability or fault by us or any of our subsidiaries.

Ranitidine Matters

In June 2020, an MDL pending in the U.S. District Court for the Southern District of Florida, In re Zantac (Ranitidine) Products Liability Litigation, was expanded to add PPI and numerous other manufacturers and distributors of generic ranitidine as defendants. The claims are generally based on allegations that under certain conditions the active ingredient in Zantac® and generic ranitidine medications can break down to form an alleged carcinogen known as N-Nitrosodimethylamine (NDMA). PPI and its subsidiaries have not manufactured or sold ranitidine since 2016.

The MDL includes individual plaintiffs as well as putative classes of consumers and third-party payers. The complaints assert a variety of claims, including but not limited to various product liability, breach of warranty, fraud, negligence, statutory and unjust enrichment claims. Plaintiffs generally seek various remedies including, without limitation, compensatory, punitive and/or treble damages; restitution, disgorgement, civil penalties, abatement, attorneys’ fees and costs as well as injunctive and/or other relief.

The MDL court has issued various case management orders, including orders directing the filing of “master” and short-form complaints, establishing a census registry process for potential claimants and addressing various discovery issues. In December 2020, the court dismissed the master complaints as to PPI and several other defendants with leave to amend certain claims. Third party payers have appealed the dismissal of their master class action complaint to the U.S. Court of Appeals for the Eleventh Circuit. Other plaintiffs have filed amended master complaints or sought leave to do so. In particular, in February 2021, various plaintiffs filed an amended master personal injury complaint, a consolidated amended consumer economic loss class action complaint and a motion for leave to file a consolidated medical monitoring class action complaint. PPI is not named as a defendant in the consumer economic loss complaint or the proposed medical monitoring complaint.

Generic Drug Pricing Matters

Since March 2016, various private plaintiffs, state attorneys general and other governmental entities have filed cases against our subsidiary PPI and/or, in some instances, the Company, Generics Bidco I, LLC, DAVA Pharmaceuticals, LLC, EPI, EHSI and/or PPCI, as well as other pharmaceutical manufacturers and, in some instances, other corporate and/or individual defendants, alleging price-fixing and other anticompetitive conduct with respect to generic pharmaceutical products. These cases, which include proposed class actions filed on behalf of direct purchasers, end-payers and indirect purchaser resellers, as well as non-class action suits, have generally been consolidated and/or coordinated for pretrial proceedings in a federal MDL pending in the U.S. District Court for the Eastern District of Pennsylvania. There is also a proposed class action filed in the Federal Court of Canada on behalf of a proposed class of Canadian purchasers.

The various complaints and amended complaints generally assert claims under federal and/or state antitrust law, state consumer protection statutes and/or state common law, and seek damages, treble damages, civil penalties, disgorgement, declaratory and injunctive relief, costs and attorneys’ fees. Some claims are based on alleged product-specific conspiracies and other claims allege broader, multiple-product conspiracies. Under these overarching conspiracy theories, plaintiffs generally seek to hold all alleged participants in a particular conspiracy jointly and severally liable for all harms caused by the alleged conspiracy, not just harms related to the products manufactured and/or sold by a particular defendant.

The MDL court has issued various case management and substantive orders, including orders denying certain motions to dismiss, and discovery is ongoing.

In December 2014, our subsidiary PPI received from the Antitrust Division of the DOJ a federal grand jury subpoena issued by the U.S. District Court for the Eastern District of Pennsylvania addressed to “Par Pharmaceuticals.” The subpoena requested documents and information focused primarily on product and pricing information relating to the authorized generic version of Lanoxin® (digoxin) oral tablets and generic doxycycline products, and on communications with competitors and others regarding those products. We are cooperating with the investigation.

In May 2018, we and our subsidiary PPCI each received a CID from the DOJ in relation to a False Claims Act investigation concerning whether generic pharmaceutical manufacturers engaged in price-fixing and market allocation agreements, paid illegal remuneration and caused the submission of false claims. We are cooperating with the investigation.

Other Antitrust Matters

Beginning in June 2014, multiple alleged purchasers of OPANA® ER sued our subsidiaries EHSI and EPI and other pharmaceutical companies including Impax Laboratories, LLC (formerly Impax Laboratories, Inc. and referred to herein as Impax) and Penwest Pharmaceuticals Co., which our subsidiary EPI had acquired, alleging violations of antitrust law arising out of an agreement reached by EPI and Impax to settle certain patent infringement litigation and EPI’s introduction of reformulated OPANA® ER. Some cases were filed on behalf of putative classes of direct and indirect purchasers, while others were filed on behalf of individual retailers or health care benefit plans. The cases have been consolidated and/or coordinated for pretrial proceedings in a federal MDL pending in the U.S. District Court for the Northern District of Illinois. The various complaints assert claims under Sections 1 and 2 of the Sherman Act, state antitrust and consumer protection statutes and/or state common law. Plaintiffs generally seek damages, treble damages, disgorgement of profits, restitution, injunctive relief and attorneys’ fees. In March 2019, direct and indirect purchaser plaintiffs filed motions for class certification, which remain pending. In April 2020, defendants filed motions for summary judgment, which remain pending.

Beginning in February 2009, the FTC and certain private plaintiffs sued our subsidiaries PPCI (since June 2016, EGHI) and/or PPI as well as other pharmaceutical companies alleging violations of antitrust law arising out of the settlement of certain patent litigation concerning the generic version of AndroGel® and seeking damages, treble damages, equitable relief and attorneys’ fees and costs. The cases were consolidated and/or coordinated for pretrial proceedings in a federal MDL pending in the U.S. District Court for the Northern District of Georgia. In May 2016, plaintiffs representing a putative class of indirect purchasers voluntarily dismissed their claims with prejudice. In February 2017, the FTC voluntarily dismissed its claims against EGHI with prejudice. In June 2018, the MDL court granted in part and denied in part various summary judgment and evidentiary motions filed by defendants. In particular, among other things, the court rejected two of the remaining plaintiffs’ causation theories and rejected damages claims related to AndroGel® 1.62%. In July 2018, the court denied certain plaintiffs’ motion for certification of a direct purchaser class. In November 2019, PPI and PPCI entered into settlement agreements with all but one of the remaining plaintiffs in the MDL. The settlement agreements were solely by way of compromise and settlement and were not in any way an admission of liability or fault. Separately, in August 2019, several alleged direct purchasers filed suit in the U.S. District Court for the Eastern District of Pennsylvania asserting claims substantially similar to those asserted in the MDL, as well as additional claims against other defendants relating to other alleged conduct. In January 2020, the U.S. District Court for the Eastern District of Pennsylvania denied defendants’ motion to transfer venue to the Northern District of Georgia.

Beginning in May 2018, multiple complaints were filed in the U.S. District Court for the Southern District of New York against PPI, EPI and/or us, as well as other pharmaceutical companies, alleging violations of antitrust law arising out of the settlement of certain patent litigation concerning the generic version of Exforge® (amlodipine/valsartan). Some cases were filed on behalf of putative classes of direct and indirect purchasers; others are non-class action suits. The various complaints assert claims under Sections 1 and 2 of the Sherman Act, state antitrust and consumer protection statutes and/or state common law. Plaintiffs generally seek damages, treble damages, equitable relief and attorneys’ fees and costs. In September 2018, the putative class plaintiffs stipulated to the dismissal without prejudice of their claims against EPI and us, and the retailer plaintiffs later did the same. PPI filed a partial motion to dismiss certain claims in September 2018, which was granted in August 2019. The cases are currently in discovery.

Beginning in August 2019, multiple complaints were filed in the U.S. District Court for the Southern District of New York against PPI and other pharmaceutical companies alleging violations of antitrust law arising out the settlement of certain patent litigation concerning generic versions of Seroquel XR® (extended release quetiapine fumarate). The claims against PPI are based on allegations that PPI entered into an exclusive acquisition and license agreement with Handa Pharmaceuticals, LLC (Handa) in 2012 pursuant to which Handa assigned to PPI certain rights under a prior settlement agreement between Handa and AstraZeneca resolving certain patent litigation. Some cases were filed on behalf of putative classes of direct and indirect purchasers; others are non-class action suits. The various complaints assert claims under Sections 1 and 2 of the Sherman Act, state antitrust and consumer protection statutes and/or state common law. Plaintiffs generally seek damages, treble damages, equitable relief and attorneys’ fees and costs. In October 2019, the defendants filed various motions to dismiss and, in the alternative, moved to transfer the litigation to the U.S. District Court for the District of Delaware. In August 2020, the Southern District of New York granted the motion to transfer without ruling on the motions to dismiss. In January 2021, the defendants filed motions to dismiss in the District of Delaware.

Beginning in June 2020, several alleged indirect purchasers filed proposed class actions against Jazz Pharmaceuticals and other pharmaceutical companies, including PPI, alleging violations of state and federal antitrust laws in connection with the settlement of certain patent litigations concerning generic versions of Xyrem® (sodium oxybate). The various complaints allege that Jazz entered into a series of “reverse-payment” settlements, including with PPI, to delay generic competition for Xyrem® and assert claims under Sections 1 and 2 of the Sherman Act, Section 16 of the Clayton Act, state antitrust and consumer protection statutes and/or state common law. Plaintiffs generally seek damages, treble damages, equitable relief and attorneys’ fees and costs. In December 2020, the cases were consolidated and/or coordinated for pretrial proceedings in a federal MDL pending in the U.S. District Court for the Northern District of California.

In January 2021, the FTC filed a lawsuit in the U.S. District Court for the District of Columbia against us, EPI, Impax Laboratories, LLC and Amneal Pharmaceuticals, Inc., generally alleging that the 2017 settlement of a contract dispute between EPI and Impax (now Amneal) constitutes unfair competition in violation of Section 5(a) of the FTC Act. The complaint generally seeks injunctive and equitable monetary relief.

To the extent unresolved, we will continue to vigorously defend the foregoing matters and to explore other options as appropriate in our best interests. Similar matters may be brought by others or the foregoing matters may be expanded. We are unable to predict the outcome of these matters or to estimate the possible range of any losses that could be incurred. Adjustments to our overall liability accrual may be required in the future, which could have a material adverse effect on our business, financial condition, results of operations and cash flows.

Securities Litigation

In February 2017, a putative class action entitled Public Employees’ Retirement System of Mississippi v. Endo International plc was filed in the Court of Common Pleas of Chester County, Pennsylvania by an institutional purchaser of shares in our June 2, 2015 public offering. The complaint alleged violations of Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 against us, certain of our current and former directors and officers, and the underwriters who participated in the offering, based on certain disclosures about Endo’s generics business. In June 2019, the parties entered into a settlement providing for, among other things, a $50 million payment to the investor class in exchange for a release of their claims. In December 2019, the court denied a petition to intervene filed by the lead plaintiff in the Pelletier litigation described below, and granted final approval of the settlement. The Company’s insurers funded the settlement in 2019. In December 2019, the putative intervenor appealed the denial of its petition to intervene and the final approval order to Pennsylvania Superior Court. In January 2021, the plaintiff moved to dismiss the appeal; in February 2021, the putative intervenor consented to that motion.

In November 2017, a putative class action entitled Pelletier v. Endo International plc, Rajiv Kanishka Liyanaarchchie De Silva, Suketu P. Upadhyay and Paul V. Campanelli was filed in the U.S. District Court for the Eastern District of Pennsylvania by an individual shareholder on behalf of himself and all similarly situated shareholders. The lawsuit alleges violations of Section 10(b) and 20(a) of the Exchange Act and Rule 10b-5 promulgated thereunder relating to the pricing of various generic pharmaceutical products. In June 2018, the court appointed Park Employees’ and Retirement Board Employees’ Annuity Benefit Fund of Chicago lead plaintiff in the action. In September 2018, the defendants filed a motion to dismiss, which the court granted in part and denied in part in February 2020. In particular, the court granted the motion and dismissed the claims with prejudice insofar as they were based on an alleged price-fixing conspiracy; the court otherwise denied the motion to dismiss, allowing other aspects of the lead plaintiff’s claims to proceed. In June 2020, the lead plaintiff moved for class certification. In February 2021, the court replaced the existing lead plaintiff with the Bucks County Employees’ Retirement Fund, appointed Alexandre Pelletier, Nathan Dole and Wayne Wingard as co-lead plaintiffs and ordered supplemental briefing on class certification. The motion for class certification remains pending.

In June 2020, a putative class action entitled Benoit Albiges v. Endo International plc, Paul V. Campanelli, Blaise Coleman, and Mark T. Bradley was filed in the U.S. District Court for the District of New Jersey by an individual shareholder on behalf of himself and all similarly situated shareholders. The lawsuit alleges violations of Section 10(b) and 20(a) of the Exchange Act and Rule 10b-5 promulgated thereunder relating to the marketing and sale of opioid medications and the New York Department of Financial Services’ administrative action against the Company, EPI, EHSI, PPI and PPCI. In September 2020, the court appointed Curtis Laakso lead plaintiff in the action. The lead plaintiff filed an amended complaint in November 2020. In January 2021, the defendants filed a motion to dismiss.

VASOSTRICT® Related Matters

In July 2016, Fresenius sued our subsidiaries PPCI and PSP LLC in the U.S. District Court for the District of New Jersey alleging an anticompetitive scheme to exclude competition for PPCI’s VASOSTRICT®, a vasopressin-based cardiopulmonary drug. In particular, Fresenius alleged violations of Sections 1 and 2 of the Sherman Antitrust Act, as well as state antitrust and common law, based on assertions that our subsidiaries entered into exclusive supply agreements with one or more API manufacturers and that, as a result, Fresenius could not obtain vasopressin API in order to file an ANDA to obtain FDA approval for its own vasopressin product. Fresenius sought actual, treble and punitive damages, attorneys’ fees and costs and injunctive relief. In February 2020, the court granted our subsidiaries’ motion for summary judgment on all claims and denied Fresenius’s cross-motion for partial summary judgment. In January 2021, the U.S. Court of Appeals for the Third Circuit vacated the district court’s order granting our subsidiaries’ motion for summary judgment and remanded for further consideration of that motion.

In December 2020, our subsidiaries PPI and PSP LLC settled a trade-secret lawsuit against QuVa Pharma, Inc. and eight former PSP LLC employees, which had been pending in the U.S. District Court for the District of New Jersey since August 2017. The settlement order dismissed all claims with prejudice and released the preliminary injunction bond.

Beginning in April 2018, PSP LLC and PPI received notice letters from Eagle Pharmaceuticals, Inc., Sandoz, Inc., Amphastar Pharmaceuticals, Inc., Amneal Pharmaceuticals LLC, American Regent, Fresenius, Dr. Reddy’s Laboratories, Inc. and Aurobindo Pharma Limited advising of the filing by such companies of ANDAs/NDAs for generic versions of VASOSTRICT® (vasopressin IV solution (infusion)) 20 units/ml and/or 200 units/10 ml. Beginning in May 2018, PSP LLC, PPI and EPIC filed lawsuits against Eagle Pharmaceuticals, Inc., Sandoz, Inc., Amphastar Pharmaceuticals, Inc., Amneal Pharmaceuticals LLC, American Regent and Fresenius in the U.S. District Court for the District of Delaware or New Jersey within the 45-day deadline to invoke a 30-month stay of FDA approval pursuant to the Hatch-Waxman legislative scheme. In December 2020, we separately filed suit against Eagle Pharmaceuticals, Inc., Amneal Pharmaceuticals LLC, Dr. Reddy’s Laboratories, Inc. and Aurobindo Pharma Limited in the U.S. District Court for the District of New Jersey in connection with a newly issued VASOSTRICT® genotyping patent. Beginning in May 2020 through January 2021, we reached settlements with American Regent, Sandoz, Inc., Amphastar Pharmaceuticals, Inc., Fresenius, Aurobindo Pharma Limited and Dr. Reddy’s Laboratories, Inc. We have voluntarily dismissed all cases pending against those defendants. The remaining Delaware cases against Eagle Pharmaceuticals, Inc. and Amneal Pharmaceuticals LLC have been consolidated and trial is presently scheduled for July 2021; however, a trial may occur later as timing remains uncertain due to the impact of COVID-19 and other factors.

We will continue to vigorously defend or prosecute the foregoing matters as appropriate, to protect our intellectual property rights, to pursue all available legal and regulatory avenues and to explore other options as appropriate in our best interests. Similar matters may be brought by others or the foregoing matters may be expanded. We are unable to predict the outcome of these matters or to estimate the possible range of any additional losses that could be incurred. Adjustments to our overall liability accrual may be required in the future, which could have a material adverse effect on our business, financial condition, results of operations and cash flows.

Other Proceedings and Investigations

Proceedings similar to those described above may also be brought in the future. Additionally, we are involved in, or have been involved in, arbitrations or various other proceedings that arise from the normal course of our business. We cannot predict the timing or outcome of these other proceedings. Currently, neither we nor our subsidiaries are involved in any other proceedings that we expect to have a material effect on our business, financial condition, results of operations and cash flows.

Other Comprehensive Income (Loss)	12 Months Ended
Other Comprehensive Income (Loss)	Dec. 31, 2020
Equity [Abstract]
OTHER COMPREHENSIVE (LOSS) INCOME	NOTE 17. OTHER COMPREHENSIVE INCOME (LOSS) During the years ended December 31, 2020, 2019 and 2018, there were no tax effects allocated to any component of Other comprehensive income (loss) and there were no reclassifications out of Accumulated other comprehensive loss. Substantially all of the Company’s Accumulated other comprehensive loss balances at December 31, 2020 and December 31, 2019 consist of Foreign currency translation loss.

Shareholders' Deficit	12 Months Ended
Shareholders' Deficit	Dec. 31, 2020
Equity [Abstract]
SHAREHOLDERS' DEFICIT	NOTE 18. SHAREHOLDERS' DEFICIT The Company has issued 4,000,000 euro deferred shares of $0.01 each at par. The euro deferred shares are held by nominees in order to satisfy an Irish legislative requirement to maintain a minimum level of issued share capital denominated in euro and to have at least seven registered shareholders. The euro deferred shares carry no voting rights and are not entitled to receive any dividend or distribution. Effects of Changes in Accounting Principles As further discussed in Note 2. Summary of Significant Accounting Policies, the Company adopted ASC 606 on January 1, 2018. This adoption resulted in a net decrease of $3.1 million to the Company’s Accumulated deficit at January 1, 2018. As further discussed in Note 2. Summary of Significant Accounting Policies, the Company adopted ASC 842 on January 1, 2019. This adoption resulted in a net increase of $4.6 million to the Company’s Accumulated deficit at January 1, 2019. Share Repurchase Program Pursuant to Article 11 of the Company’s Articles of Association, the Company has broad shareholder authority to conduct ordinary share repurchases by way of redemptions. The Company’s authority to repurchase ordinary shares is subject to legal limitations and the existence of sufficient distributable reserves. For example, the Companies Act requires Irish companies to have distributable reserves equal to or greater than the amount of any proposed ordinary share repurchase amount. Unless we are able to generate sufficient distributable reserves or create distributable reserves by reducing our share premium account, we will not be able to repurchase our ordinary shares. As permitted by Irish Law and the Company’s Articles of Association, any ordinary shares redeemed shall be cancelled upon redemption. The Board has approved the 2015 Share Buyback Program that authorizes the Company to redeem, in the aggregate, $2.5 billion of its outstanding ordinary shares. To date, the Company has redeemed and cancelled approximately 4.4 million of its ordinary shares under the 2015 Share Buyback Program for $250.0 million, not including related fees.

Shared-based Compensation

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

SHARE-BASED COMPENSATION

NOTE 19. SHARE-BASED COMPENSATION

Stock Incentive Plans

In June 2015, the Company’s shareholders approved the 2015 Stock Incentive Plan (the 2015 Plan), which has subsequently been amended, as approved by the Company’s shareholders, on multiple occasions, including in 2018, 2019 and 2020. Under the 2015 Plan, stock options (including incentive stock options), stock appreciation rights, restricted stock awards, performance awards and other share- or cash-based awards may be issued at the discretion of the Compensation Committee of the Board from time to time. No ordinary shares are to be granted under previously approved plans, including the Company’s 2000, 2004, 2007, 2010 and Assumed Stock Incentive Plans. Any awards previously granted and outstanding under these prior plans remain subject to the terms of those prior plans.

During the third quarter of 2017, the Company issued approximately 1.0 million stock options and 0.1 million restricted stock units (RSUs) that were initially subject to shareholder approval and were subsequently approved by shareholders on June 7, 2018 at the Company’s Annual General Meeting of Shareholders. The options have an exercise price equal to the closing share price on their issuance date in August 2017. For accounting and disclosure purposes, these stock options and RSUs were considered to have been granted in 2018 upon approval by shareholders.

As further described below, certain of the Company’s outstanding PSUs are measured against targets covering three independent successive one-year performance periods, which are generally established for each performance period during the first quarter of that calendar year. The determination of the grant-date(s) underlying such PSUs depends in part on the date(s) on which each of the performance targets with respect to those PSUs are approved. Therefore, for certain PSUs, a single unit may give rise to multiple grant dates depending, in part, on the dates on which the respective performance targets are approved.

Beginning in 2017, long-term cash incentive (LTCI) awards were provided to certain employees. LTCI awards were designed to vest ratably, in equal amounts, over a three-year service period. Upon vesting, each vested LTCI unit would be settled in cash in an amount equal to the price of Endo’s ordinary shares on the vest date. As of September 30, 2018, approximately 3.0 million unvested LTCI awards were outstanding for approximately 570 employees. The outstanding awards had a weighted average remaining requisite service period of 2.3 years. A corresponding liability of $14.9 million was recorded as of September 30, 2018 in Accounts payable and accrued expenses and Other liabilities in the Company’s Consolidated Balance Sheets. On October 1, 2018, the Compensation Committee of the Board authorized the Company to settle each of the outstanding unvested LTCI awards in shares, rather than cash, upon vesting in accordance with the original vesting terms of the awards. With the authorization of the Compensation Committee, management’s intent to settle the awards in shares rather than cash is a modification that changes the awards’ classification from liability to equity, effective October 1, 2018. The accounting for the modification occurred in the fourth quarter of 2018. Prior to this modification, LTCI awards were excluded from amounts in this Note 19. Share-based Compensation. Subsequent to this modification, LTCI awards are generally treated the same as RSUs, including for accounting, financial statement classification and disclosure purposes. However, adjustments to pre-modification amounts of LTCI expense that are recorded in the Consolidated Statements of Operations subsequent to this modification, including adjustments related to actual or estimated forfeitures, are excluded from the determination of share-based compensation expense.

At December 31, 2020, approximately 12.1 million ordinary shares were reserved for future grants under the 2015 Plan. As of December 31, 2020, stock options, restricted stock awards, PSUs, RSUs, LTCI awards and certain other cash-based awards have been granted under the stock incentive plans.

Generally, the grant-date fair value of each award is recognized as expense over the requisite service period. However, expense recognition differs in the case of certain PSUs where the ultimate payout is performance-based. For these awards, at each reporting period, the Company estimates the ultimate payout and adjusts the cumulative expense based on its estimate and the percent of the requisite service period that has elapsed.

Presented below are the components of total share-based compensation as recorded in our Consolidated Statements of Operations for the years ended December 31, 2020, 2019 and 2018 (in thousands).


	2020		2019		2018
Selling, general and administrative expenses	$	32,368	$	44,159	$	44,454
Research and development expenses	2,504		4,501		2,251
Cost of revenues	6,485		10,482		7,366

Total share-based compensation expense	$	41,357	$	59,142	$	54,071

As of December 31, 2020, the total remaining unrecognized compensation cost related to non-vested share-based compensation awards for which a grant date has been established as of December 31, 2020 amounted to $21.9 million.

Stock Options

From time to time, the Company grants stock options to its employees as part of their annual share compensation awards and, in certain circumstances, on an ad hoc basis or upon their commencement of service with the Company.

Employee stock options generally vest ratably, in equal amounts, over a three or four-year service period and generally expire ten years from the grant date. The fair value of option grants is estimated at the date of grant using the Black-Scholes option-pricing model. This model utilizes assumptions related to volatility, the risk-free interest rate, the dividend yield (which is assumed to be zero as the Company has not paid cash dividends to date and does not currently expect to pay cash dividends) and the expected term of the option. Expected volatilities utilized in the model are based mainly on the historical volatility of the Company’s share price over a period commensurate with the expected life of the share option as well as other factors. The risk-free interest rate is derived from the U.S. Treasury yield curve in effect at the time of grant. We estimate the expected term of options granted based on our historical experience with our employees’ exercise of stock options and other factors.

A summary of the activity for each of the years ended December 31, 2020, 2019 and 2018 is presented below:


	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value (1)
Outstanding as of December 31, 2017	8,248,130	$	22.79
Granted	971,590	$	7.55
Exercised	(94,392)	$	9.89
Forfeited	(605,737)	$	19.01
Expired	(446,873)	$	36.80
Outstanding as of December 31, 2018	8,072,718	$	20.62

Exercised	(557)	$	7.55
Forfeited	(125,739)	$	14.38
Expired	(665,883)	$	40.37
Outstanding as of December 31, 2019	7,280,539	$	18.93


Forfeited	(16,953)	$	11.81
Expired	(347,000)	$	35.56
Outstanding as of December 31, 2020	6,916,586	$	18.11	5.39	$	—
Vested and expected to vest as of December 31, 2020	6,912,211	$	18.11	5.39	$	—
Exercisable as of December 31, 2020	6,389,536	$	18.53	5.37	$	—

__________

(1)The intrinsic value of a stock option is the excess, if any, of the closing price of the Company’s ordinary shares on the last trading day of the fiscal year over the exercise price. The aggregate intrinsic values presented in the table above represent sum of the intrinsic values of all corresponding stock options that are “in-the-money,” if any.

The range of exercise prices for the above stock options outstanding at December 31, 2020 is from $7.55 to $86.54.

The total intrinsic values of options exercised during the years ended December 31, 2019 and 2018 were less than $0.1 million and $0.6 million, respectively. No tax benefits from stock option exercises were realized during the years ended December 31, 2020, 2019 and 2018. The weighted average grant-date fair values of the stock options granted during the year ended December 31, 2018 was $3.97 per option, determined using the following weighted average assumptions:


	2018
Expected term (years)	4.0
Risk-free interest rate	2.7	%
Dividend yield	—
Expected volatility	63	%

As of December 31, 2020, the weighted average remaining requisite service period of non-vested stock options was 0.2 years and the total remaining unrecognized compensation cost related to non-vested stock options amounted to $0.2 million.

Restricted Stock Units and Performance Share Units

From time to time, the Company grants RSUs and PSUs to its employees as part of their annual share compensation awards and, in certain circumstances, on an ad hoc basis or upon their commencement of service with the Company.

RSUs vest ratably, in equal amounts, over a three or four-year service period. PSUs vest in full after a three-year service period and are conditional upon the achievement of performance and/or market conditions established by the Compensation Committee of the Board.

PSUs awarded in 2020, 2019 and 2018 were based upon two discrete measures: relative total shareholder return (TSR) and an adjusted free cash flow performance metric (FCF), each accounting for 50% of the PSU awards upon issuance. TSR performance is measured against the three-year TSR of a custom index of companies. For PSUs awarded in 2020 and 2019, FCF performance is measured against a target covering a single three-year performance period, which is generally established at the grant date. For PSUs awarded in 2018, FCF performance is measured against targets covering three independent successive one-year performance periods, which are generally established for each performance period during the first quarter of that calendar year. Upon the completion of the three-year performance period, the PSUs vest and the actual number of shares awarded is adjusted to between zero and 200% of the target award amount based upon the performance criteria described above. In addition to meeting the performance conditions, grant recipients are also generally subject to being employed by the Company until the conclusion of the three-year vesting period in order to receive the awards. TSR is considered a market condition under applicable authoritative guidance, while FCF is considered performance condition.

RSUs are valued based on the closing price of Endo’s ordinary shares on the date of grant. PSUs with TSR conditions are valued using a Monte-Carlo variant valuation model, while those with FCF conditions are valued taking into consideration the probability of achieving the specified performance goal. The Monte-Carlo variant valuation model considered a variety of potential future share prices for Endo as well as our peer companies in a selected market index.

A summary of our non-vested RSUs and PSUs for the years ended December 31, 2020, 2019 and 2018 is presented below:


	Number of Shares	Aggregate Intrinsic Value (1)
Non-vested as of December 31, 2017	4,724,673
Granted	5,609,561
LTCI modification (2)	2,989,965
Forfeited	(753,653)
Vested	(1,551,074)
Non-vested as of December 31, 2018	11,019,472
Granted	6,687,695

Forfeited	(918,425)
Vested	(3,872,453)
Non-vested as of December 31, 2019	12,916,289
Granted	3,761,648

Forfeited	(824,299)
Vested	(5,513,359)
Non-vested as of December 31, 2020	10,340,279	$	74,243,203
Vested and expected to vest as of December 31, 2020	9,702,411	$	69,663,311

__________

(1)The aggregate intrinsic values of RSUs and PSUs presented in the table above are calculated by multiplying the closing price of the Company’s ordinary shares on the last trading day of the fiscal year by the corresponding number of RSUs and PSUs.

(2)As a result of the October 1, 2018 modification to the Company’s LTCI awards described above, modified LTCI awards are treated as RSUs for disclosure purposes; thus, the table above reflects an increase to the non-vested number of shares on the modification date.

As of December 31, 2020, the weighted average remaining requisite service period of the units presented in the table above was 1.3 years and the corresponding total remaining unrecognized compensation cost amounted to $12.8 million in the case of RSUs and LTCI awards and $8.9 million in the case of PSUs. The weighted average grant-date fair value of the units granted during the years ended December 31, 2020, 2019 and 2018 was $5.54, $7.72 and $6.88 per unit, respectively.

Other (Income) Expense, Net

12 Months Ended

Dec. 31, 2020

Component of Operating Income [Abstract]

OTHER (INCOME) EXPENSE, NET

NOTE 20. OTHER (INCOME) EXPENSE, NET

The components of Other (income) expense, net for the years ended December 31, 2020, 2019 and 2018 are as follows (in thousands):



	2020		2019		2018
Net gain on sale of business and other assets (1)	$	(16,353)	$	(6,367)	$	(45,155)
Foreign currency loss (gain), net (2)	2,466		5,247		(3,762)
Net (gain) loss from our investments in the equity of other companies (3)	(2,160)		2,346		3,444
Other miscellaneous, net (4)	(5,063)		15,451		(6,480)
Other (income) expense, net	$	(21,110)	$	16,677	$	(51,953)

__________

(1)Amounts in 2018 include a $12.5 million gain on the sale of the Company’s Huntsville, Alabama facilities, as further discussed in Note 4. Restructuring. The remaining amounts primarily relate to the sales of certain intellectual property rights.

(2)Amounts relate to the remeasurement of the Company’s foreign currency denominated assets and liabilities.

(3)Amounts relate to the income statement impacts of our investments in the equity of other companies, including investments accounted for under the equity method.

(4)Amounts in 2019 primarily relate to $17.5 million of contract termination costs incurred as a result of certain product discontinuation activities in our International Pharmaceuticals segment.

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

INCOME TAXES

NOTE 21. INCOME TAXES

Loss from Continuing Operations before Income Tax

Our operations are conducted through our various subsidiaries in numerous jurisdictions throughout the world. We have provided for income taxes based upon the tax laws and rates in the jurisdictions in which our operations are conducted.

The components of our Loss from continuing operations before income tax by geography for the years ended December 31, 2020, 2019 and 2018 are as follows (in thousands):


	2020		2019		2018
U.S.	$	(375,262)	$	(688,224)	$	(1,342,860)
International	348,744		343,320		404,028
Total loss from continuing operations before income tax	$	(26,518)	$	(344,904)	$	(938,832)

Income tax from continuing operations consists of the following for the years ended December 31, 2020, 2019 and 2018 (in thousands):


	2020		2019		2018
Current:
U.S. Federal	$	(108,866)	$	15,317	$	6,236
U.S. State	(434)		(3,002)		2,864
International	(1,124)		8,926		8,278
Total current income tax	$	(110,424)	$	21,241	$	17,378
Deferred:
U.S. Federal	$	(143,411)	$	(515)	$	10,084
U.S. State	(11,773)		(482)		(778)
International	(8,374)		(4,564)		(3,749)
Total deferred income tax	$	(163,558)	$	(5,561)	$	5,557


Total income tax	$	(273,982)	$	15,680	$	22,935

Tax Rate

A reconciliation of income tax from continuing operations at the U.S. federal statutory income tax rate to the total income tax provision from continuing operations for the years ended December 31, 2020, 2019 and 2018 is as follows (in thousands):


	2020		2019		2018
Notional U.S. federal income tax provision at the statutory rate	$	(5,569)	$	(72,430)	$	(197,155)
State income tax, net of federal benefit	(17,311)		(4,455)		494
U.S. tax reform impact	(129,599)		—		5,664
Uncertain tax positions	35,941		43,273		46,317
Residual tax on non-U.S. net earnings	(83,550)		(67,987)		(638,724)


Non-deductible goodwill impairment	7,490		27,493		109,189
Change in valuation allowance	(97,752)		30,123		748,562
Intra-entity transfers of assets	—		—		(63,335)










Base erosion minimum tax	77,438		13,662		—
Non-deductible expenses	8,875		21,299		3,446
Executive compensation limitation	5,857		4,547		5,955
Equity based compensation	6,495		6,014		4,118
Financing activities	(33,217)		—		—
Investment activities	(44,964)		—		—
Other	(4,116)		14,141		(1,596)
Income tax	$	(273,982)	$	15,680	$	22,935

The change in income tax benefit in 2020 as compared to the 2019 income tax expense primarily relates to the income tax benefit arising from the CARES Act, as discussed in more detail below, and a change in deferred tax liabilities following the BioSpecifics acquisition during 2020. The decrease in income tax expense in 2019 as compared to the 2018 income tax expense primarily related to a charge to establish a valuation allowance against certain U.S. deferred tax assets during 2018.

On March 27, 2020, the CARES Act was enacted by the U.S. government in response to the COVID-19 pandemic. The CARES Act, among other things, permits net operating loss (NOL) carryovers to be carried back to offset taxable income from previous taxable years. Specifically, the CARES Act allows NOLs incurred in 2018, 2019 and 2020 to be carried back to each of the five preceding taxable years to generate a refund of previously paid income taxes. During the year ended December 31, 2020, the Company recorded a tax benefit in continuing operations of $129.6 million as a result of the change in the NOL carryback period, net of valuation allowance.

Deferred Tax Assets and Liabilities

Deferred income taxes result from temporary differences between the amount of assets and liabilities recognized for financial reporting and tax purposes. The significant components of the net deferred income tax liability shown on the balance sheets as of December 31, 2020 and 2019 are as follows (in thousands):


	December 31, 2020		December 31, 2019
Deferred tax assets:
Accrued expenses and customer allowances	$	109,595	$	112,489

Deferred interest expense	281,608		317,997
Fixed assets and intangible assets	487,378		598,730
Loss on capital assets	66,159		61,971
Net operating loss carryforward	9,659,130		9,743,763
Other	91,895		89,501
Research and development and other tax credit carryforwards	15,176		16,620


Total gross deferred income tax assets	$	10,710,941	$	10,941,071
Deferred tax liabilities:

Other	$	(9,469)	$	(10,086)

Intercompany notes	(1,057,158)		(1,131,537)

Total gross deferred income tax liabilities	$	(1,066,627)	$	(1,141,623)
Valuation allowance	(9,668,556)		(9,828,959)
Net deferred income tax liability	$	(24,242)	$	(29,511)

As of December 31, 2020, the Company had significant deferred tax assets for tax credits, net operating and capital loss carryforwards, net of unrecognized tax benefits, as presented below (in thousands):


Jurisdiction	Amount		Begin to Expire
Ireland	$	38,607	Indefinite
Luxembourg	$	9,381,910	2034


U.S.:
Federal-ordinary losses	$	41,049	2036
Federal-capital losses	$	42,620	2022
Federal-tax credits	$	5,274	2036
State-ordinary losses	$	248,148	2021
State-capital losses	$	29,292	2022
State-tax credits	$	8,408	2021

A valuation allowance is required when it is more likely than not that all or a portion of a deferred tax asset will not be realized. The Company assesses the available positive and negative evidence to estimate whether the existing deferred tax assets will be realized.

The Company has recorded a valuation allowance against certain jurisdictional NOL carryforwards and other tax attributes. As of December 31, 2020 and 2019, the total valuation allowance was $9,668.6 million and $9,829.0 million, respectively. During the year ended December 31, 2020, the Company decreased its valuation allowance by $160.4 million, which was primarily driven by deferred tax liabilities recognized as part of the BioSpecifics acquisition. During the year ended December 31, 2019, the Company decreased its valuation allowance by $48.7 million, which was primarily driven by statutory rate changes in Luxembourg.

As of December 31, 2020, the Company had the following significant valuation allowances (in thousands):


Jurisdiction	December 31, 2020

Ireland	$	218,934
Luxembourg	$	8,324,752



U.S.	$	1,121,094

We have provided for any applicable income taxes associated with current year distributions, as well as any earnings that are expected to be distributed in the future, in the calculation of the income tax provision. No additional provision has been made for Irish and non-Irish income taxes on the undistributed earnings of subsidiaries as such earnings are expected to be indefinitely reinvested. As of December 31, 2020, certain subsidiaries had approximately $1,424.3 million of cumulative undistributed earnings that have been deemed permanently reinvested. A liability could arise if our intention to indefinitely reinvest such earnings were to change and amounts are distributed by such subsidiaries or if such subsidiaries are ultimately disposed. The potential tax implications of unremitted earnings are driven by the facts at the time of the distribution. It is not practicable to estimate the additional income taxes related to indefinitely reinvested earnings or the basis differences related to investments in subsidiaries.

Uncertain Tax Positions

The Company and its subsidiaries are subject to income taxes in the U.S., various states and numerous foreign jurisdictions with varying statutes as to which tax years are subject to examination by the tax authorities. The Company has taken positions on its tax returns that may be challenged by various tax authorities. The Company believes it has appropriately established reserves for tax-related uncertainties. The Company endeavors to resolve matters with a tax authority at the examination level and could reach agreement with a tax authority at any time. The accruals for tax-related uncertainties are based on the Company’s best estimate of the potential tax exposures. When particular matters arise, a number of years may elapse before such matters are audited and finally resolved. The final outcome with a tax authority may result in a tax liability that is more or less than that reflected in our financial statements. Favorable resolution of such matters could be recognized as a reduction of the Company’s effective tax rate in the year of resolution, while a resolution that is not favorable could increase the effective tax rate and may require the use of cash. Uncertain tax positions are reviewed quarterly and adjusted as necessary when events occur that affect potential tax liabilities, such as lapsing of applicable statutes of limitations, proposed assessments by tax authorities, identification of new issues and issuance of new legislation, regulations or case law.

As of December 31, 2020, the Company had total unrecognized income tax benefits (UTBs) of $576.8 million. If recognized in future years, $230.8 million of such amounts would impact the income tax provision and effective tax rate. As of December 31, 2019, the Company had total UTBs of $530.2 million. If recognized in future years, $320.3 million of such amounts would have impacted the income tax provision and effective tax rate. The following table summarizes the activity related to UTBs during the years ended December 31, 2020, 2019 and 2018 (in thousands):


	Unrecognized Tax Benefit Federal, State, and Foreign Tax
UTB Balance at December 31, 2017	$	415,951
Gross additions for current year positions	36,088

Gross reductions for prior period positions	(3,570)
Gross additions for prior period positions	7,950
Decrease due to lapse of statute of limitations	(2,129)

Currency translation adjustment	(2,600)
UTB Balance at December 31, 2018	$	451,690
Gross additions for current year positions	35,766
Gross reductions for prior period positions	(2,377)
Gross additions for prior period positions	880
Decrease due to lapse of statute of limitations	(1,006)


Currency translation adjustment	1,528
UTB Balance at December 31, 2019	$	486,481
Gross additions for current year positions	33,402
Gross reductions for prior period positions	(577)
Gross additions for prior period positions	16,914
Decrease due to lapse of statute of limitations	(7,033)

Currency translation adjustment	588
UTB Balance at December 31, 2020	$	529,775
Accrued interest and penalties	47,006
Total UTB balance including accrued interest and penalties	$	576,781

The Company records accrued interest and penalties, where applicable, related to uncertain tax positions as part of the provision for income taxes. The cumulative accrued interest and penalties related to uncertain tax positions were $47.0 million and $43.7 million as of December 31, 2020 and 2019, respectively.

During the year ended December 31, 2020, the Company recognized a benefit of $78.2 million, primarily related to the CARES Act, as a reduction to our net uncertain tax position liability. During the years ended December 31, 2019 and 2018, we recognized expense of $13.8 million and $8.6 million, respectively, related to interest and penalties. The current portion of our UTB liability of $0.2 million is included in our Consolidated Balance Sheet as Accounts payable and accrued expenses. The noncurrent portion of our UTB liability is included in our Consolidated Balance Sheet as Other liabilities or, if and to the extent appropriate, as a reduction to Deferred tax assets.

Our subsidiaries file income tax returns in the countries in which they have operations. Generally, these countries have statutes of limitations ranging from 3 to 5 years. Certain subsidiary tax returns are currently under examination by taxing authorities, including U.S. tax returns for the 2006 through 2018 tax years by the IRS.

It is expected that the amount of UTBs will change during the next twelve months; however, the Company does not currently anticipate any adjustments that would lead to a material impact on our results of operations or our financial position.

On June 3, 2020, in connection with the IRS’s examination of our U.S. income tax return for the fiscal year ended December 31, 2015 (2015 Return), we received an acknowledgement of facts (AoF) from the IRS related to transfer pricing positions taken by Endo U.S., Inc. and its subsidiaries (Endo U.S.). The AoF asserted that Endo U.S. overpaid for certain pharmaceutical products that it purchased from certain non-U.S. related parties and proposed a specific adjustment to our 2015 Return position. On September 4, 2020, we received a Form 5701 Notice of Proposed Adjustment (NOPA) that is consistent with the previously disclosed AoF. We believe that the terms of the subject transactions are consistent with comparable transactions for similarly situated unrelated parties, and we intend to contest the proposed adjustment. While the NOPA is not material to our business, financial condition, results of operations or cash flows, the IRS could seek to apply its position to subsequent tax periods and propose similar adjustments. The aggregate impact of these adjustments, if sustained, could have a material adverse effect on our business, financial condition, results of operations and cash flows. Although the timing of the outcome of this matter is uncertain, it is possible any final resolution of the matter could take a number of years.

In connection with the IRS’s examination of our 2015 Return, on December 31, 2020, the IRS issued a TAM that we previously disclosed we were expecting to receive regarding the portion of our 2015 NOL that qualifies as a specified product liability loss (SLL). The TAM concurred in part with our positions on the 2015 Return but disagreed with our position that the AMS worthless stock loss qualifies as an SLL. If the IRS’s position is sustained in whole or in part, we could be required to repay with interest a portion of the $760 million tax refund we disclosed in our 2016 Annual Report on Form 10-K. This result could have a material adverse effect on our business, financial condition, results of operations and cash flows. We disagree with the IRS’s position in the TAM regarding the AMS worthless stock loss and, if necessary, intend to contest the proposed adjustment. Although the timing of the outcome of this matter is uncertain, it is possible any final resolution of the matter could take a number of years.

As of December 31, 2020, we may be subject to examination in the following major tax jurisdictions:


Jurisdiction						Open Years
Canada						2013 through 2020
India						2012 through 2020
Ireland						2014 through 2020
Luxembourg						2014 through 2020
U.S. - federal, state and local						2006 through 2020

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Net Income (Loss) Per Share

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

NET INCOME (LOSS) PER SHARE

NOTE 22. NET INCOME (LOSS) PER SHARE

The following is a reconciliation of the numerator and denominator of basic and diluted net income (loss) per share for the years ended December 31, 2020, 2019 and 2018 (in thousands):



	2020		2019		2018
Numerator:
Income (loss) from continuing operations	$	247,464	$	(360,584)	$	(961,767)


Loss from discontinued operations, net of tax	(63,520)		(62,052)		(69,702)
Net income (loss)	$	183,944	$	(422,636)	$	(1,031,469)
Denominator:
For basic per share data—weighted average shares	229,314		226,050		223,960
Dilutive effect of ordinary share equivalents	4,339		—		—

For diluted per share data—weighted average shares	233,653		226,050		223,960

Basic per share amounts are computed based on the weighted average number of ordinary shares outstanding during the period. Diluted per share amounts are computed based on the weighted average number of ordinary shares outstanding and, if there is net income from continuing operations during the period, the dilutive effect of ordinary share equivalents outstanding during the period.

The dilutive effect of ordinary share equivalents is measured using the treasury stock method. Stock options and awards that have been issued but for which a grant date has not yet been established are not considered in the calculation of basic or diluted weighted average shares.

For the year ended December 31, 2020, aggregate stock options and stock awards of 7.1 million and 5.2 million, respectively, were excluded from the diluted share calculation because their effect would have been anti-dilutive. All potentially dilutive items were excluded from the diluted share calculation for the years ended December 31, 2019 and 2018 because their effect would have been anti-dilutive as the Company was in a loss position.

Savings and Investment Plan and Deferred Compensation Plans	12 Months Ended
	Dec. 31, 2020
Savings And Investment Plan And Deferred Compensation Plans [Abstract]
SAVINGS AND INVESTMENT PLAN AND DEFERRED COMPENSATION PLANS	NOTE 23. SAVINGS AND INVESTMENT PLAN AND DEFERRED COMPENSATION PLANS Savings and Investment Plan The Company maintains a defined contribution Savings and Investment Plan (the Endo 401(k) Plan) covering all U.S.-based eligible employees. The Company matches 100% of the first 3% of eligible cash compensation that a participant contributes to the Endo 401(k) Plan plus 50% of the next 2% for a total of up to 4%, subject to statutory limitations. The Company’s matching contributions generally vest ratably over a two-year period. Costs incurred for contributions made by the Company to the Endo 401(k) Plan amounted to $7.6 million, $7.4 million and $6.4 million for the years ended December 31, 2020, 2019 and 2018, respectively. Directors Stock Election Plan The Company maintains a directors stock election plan. The purpose of this plan is to provide non-employee directors the opportunity to have their cash retainer fees, or a portion thereof, delivered in the form of Endo ordinary shares. The amount of shares will be determined by dividing the portion of cash fees elected to be received as shares by the closing price of the shares on the day the payment would have otherwise been paid in cash.

Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Data [Abstract]

QUARTERLY FINANCIAL DATA (UNAUDITED)

NOTE 24. QUARTERLY FINANCIAL DATA (UNAUDITED)

The following table presents select unaudited financial data for each of the three-month periods ending March 31, 2020, June 30, 2020, September 30, 2020 and December 31, 2020, as well as the comparable 2019 periods (in thousands, except per share data):


	Quarter Ended
	March 31,		June 30,		September 30,		December 31,
2020 (1)
Total revenues	$	820,405	$	687,588	$	634,860	$	760,221
Gross profit	$	431,606	$	351,492	$	286,783	$	390,682
Income (loss) from continuing operations	$	157,581	$	17,610	$	(68,974)	$	141,247
Discontinued operations, net of tax	$	(27,651)	$	(7,052)	$	(6,913)	$	(21,904)
Net income (loss)	$	129,930	$	10,558	$	(75,887)	$	119,343
Net income (loss) per share—Basic:
Continuing operations	$	0.69	$	0.08	$	(0.30)	$	0.61
Discontinued operations	(0.12)		(0.03)		(0.03)		(0.09)
Basic	$	0.57	$	0.05	$	(0.33)	$	0.52
Net income (loss) per share—Diluted:
Continuing operations	$	0.68	$	0.08	$	(0.30)	$	0.60
Discontinued operations	(0.12)		(0.03)		(0.03)		(0.09)
Diluted	$	0.56	$	0.05	$	(0.33)	$	0.51
Weighted average shares—Basic	227,198		229,716		230,040		230,301
Weighted average shares—Diluted	233,014		233,681		230,040		234,474
2019 (2)
Total revenues	$	720,411	$	699,727	$	729,426	$	764,800
Gross profit	$	328,502	$	311,519	$	340,261	$	364,744
Loss from continuing operations	$	(12,612)	$	(98,052)	$	(41,431)	$	(208,489)
Discontinued operations, net of tax	$	(5,961)	$	(7,953)	$	(37,984)	$	(10,154)
Net loss	$	(18,573)	$	(106,005)	$	(79,415)	$	(218,643)
Net loss per share—Basic:
Continuing operations	$	(0.06)	$	(0.43)	$	(0.18)	$	(0.92)
Discontinued operations	(0.02)		(0.04)		(0.17)		(0.04)
Basic	$	(0.08)	$	(0.47)	$	(0.35)	$	(0.96)
Net loss per share—Diluted:
Continuing operations	$	(0.06)	$	(0.43)	$	(0.18)	$	(0.92)
Discontinued operations	(0.02)		(0.04)		(0.17)		(0.04)
Diluted	$	(0.08)	$	(0.47)	$	(0.35)	$	(0.96)
Weighted average shares—Basic	224,594		226,221		226,598		226,787
Weighted average shares—Diluted	224,594		226,221		226,598		226,787

__________

(1)Income (loss) from continuing operations for the year ended December 31, 2020 was impacted by (i) acquisition-related and integration items, net of $12.5 million, $6.0 million, $(1.4) million and $(0.6) million during the first, second, third and fourth quarters, respectively, which related primarily to changes in the fair value of contingent consideration, (ii) asset impairment charges of $97.8 million, $8.4 million and $14.1 million during the first, third and fourth quarters, respectively, (iii) certain continuity and separation benefits and other cost reduction initiatives of $23.2 million, $9.4 million, $67.7 million and $25.9 million during the first, second, third and fourth quarters, respectively, (iv) amounts related to litigation-related and other contingent matters totaling $(17.2) million, $(8.6) million, $1.8 million and $4.9 million during the first, second, third and fourth quarters, respectively, and (v) amounts related to sales of businesses and other assets of $(8.2) million, $(6.7) million, $(1.9) million and $0.4 million during the first, second, third and fourth quarters, respectively.

(2)Loss from continuing operations for the year ended December 31, 2019 was impacted by (i) acquisition-related and integration items, net of $(37.5) million, $(5.5) million, $16.0 million and $(19.1) million during the first, second, third and fourth quarters, respectively, which related primarily to changes in the fair value of contingent consideration, (ii) asset impairment charges of $165.4 million, $88.4 million, $4.8 million and $267.4 million during the first, second, third and fourth quarters, respectively, (iii) certain continuity and separation benefits and other cost reduction initiatives of $2.0 million, $2.1 million, $11.0 million and $19.4 million during the first, second, third and fourth quarters, respectively, (iv) a gain on extinguishment of debt of $(119.8) million during the first quarter, (v) amounts related to litigation-related and other contingent matters totaling $10.3 million, $(14.4) million and $15.3 million during the second, third and fourth quarters, respectively, and (vi) amounts related to sales of businesses and other assets of $1.3 million, $(2.5) million, $(1.9) million and $(3.3) million during the first, second, third and fourth quarters, respectively.

The operating results of the Astora business are reported as Discontinued operations, net of tax in the Consolidated Statements of Operations for all periods presented. For additional information, see Note 3. Discontinued Operations. Quarterly and year-to-date computations of per share amounts are made independently; therefore, the sum of the per share amounts for the quarters may not equal the per share amounts for the year.

SCHEDULE II--Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2020

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

SCHEDULE II--Valuation and Qualifying Accounts

SCHEDULE II—VALUATION AND QUALIFYING ACCOUNTS

(in thousands)


	Balance at Beginning of Period		Additions, Costs and Expenses		Deductions, Write-offs		Other (1)		Balance at End of Period




Valuation Allowance For Deferred Tax Assets:
Year Ended December 31, 2018	$	8,062,975	$	2,569,175	$	(2,259)	$	(752,274)	$	9,877,617
Year Ended December 31, 2019	$	9,877,617	$	299,372	$	(9,078)	$	(338,952)	$	9,828,959
Year Ended December 31, 2020	$	9,828,959	$	150,500	$	(316,474)	$	5,571	$	9,668,556

__________

(1)Represents the remeasurement of net deferred tax assets due to changes in statutory tax rates.

All other financial statement schedules have been omitted because they are not applicable or the required information is included in the Consolidated Financial Statements or notes thereto.

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2020
Accounting Changes and Error Corrections [Abstract]
Consolidation and basis of presentation	The Consolidated Financial Statements include the accounts of wholly-owned subsidiaries after the elimination of intercompany accounts and transactions.
Reclassifications	Certain prior period amounts have been reclassified to conform to the current period presentation.
Use of Estimates	The preparation of our Consolidated Financial Statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the amounts and disclosures in our Consolidated Financial Statements, including the notes thereto, and elsewhere in this report. For example, we are required to make significant estimates and assumptions related to revenue recognition, including sales deductions, long-lived assets, goodwill, other intangible assets, income taxes, contingencies, financial instruments and share-based compensation, among others. Some of these estimates can be subjective and complex. Uncertainties related to the continued magnitude and duration of the COVID-19 pandemic, the extent to which it will impact our estimated future financial results, worldwide macroeconomic conditions including interest rates, employment rates, consumer spending, health insurance coverage, the speed of the anticipated recovery and governmental and business reactions to the pandemic, including any possible re-initiation of shutdowns or renewed restrictions, have increased the complexity of developing these estimates, including the allowance for expected credit losses and the carrying amounts of long-lived assets, goodwill and other intangible assets. Although we believe that our estimates and assumptions are reasonable, there may be other reasonable estimates or assumptions that differ significantly from ours. Further, our estimates and assumptions are based upon information available at the time they were made. Actual results may differ significantly from our estimates, including as a result of COVID-19.We regularly evaluate our estimates and assumptions using historical experience and other factors, including the economic environment. As future events and their effects cannot be determined with precision, our estimates and assumptions may prove to be incomplete or inaccurate, or unanticipated events and circumstances may occur that might cause us to change those estimates and assumptions. Market conditions, such as illiquid credit markets, volatile equity markets, dramatic fluctuations in foreign currency rates and economic downturns, can increase the uncertainty already inherent in our estimates and assumptions. We also are subject to other risks and uncertainties that may cause actual results to differ from estimated amounts, such as changes in the healthcare environment, competition, litigation, legislation and regulations. We adjust our estimates and assumptions when facts and circumstances indicate the need for change. Those changes generally will be reflected in our Consolidated Financial Statements on a prospective basis.
Customer Product And Supplier Concentration	We primarily sell our branded and generic products to wholesalers, retail drug store chains, supermarket chains, mass merchandisers, distributors, mail order accounts, hospitals and government agencies. Our wholesalers and distributors purchase products from us and, in turn, supply products to retail drug store chains, independent pharmacies and MCOs. Customers in the managed care market include health maintenance organizations, nursing homes, hospitals, clinics, pharmacy benefit management companies and mail order customers. Net revenues from direct customers that accounted for
Revenue from Contract with Customer	The Company adopted ASC 606 on January 1, 2018 using the modified retrospective method for all revenue-generating contracts, including modifications thereto, that were not completed contracts at the date of adoption. ASC 606 applies to contracts with commercial substance that establish the payment terms and each party’s rights regarding the goods or services to be transferred, to the extent collection of substantially all of the related consideration is probable. Under ASC 606, we recognize revenue for contracts meeting these criteria when (or as) we satisfy our performance obligations for such contracts by transferring control of the underlying promised goods or services to our customers. The amount of revenue we recognize reflects our estimate of the consideration we expect to be entitled to receive, subject to certain constraints, in exchange for such goods or services. This amount is referred to as the transaction price. Our revenue consists almost entirely of sales of our products to customers, whereby we ship products to a customer pursuant to a purchase order. For contracts such as these, revenue is recognized when our contractual performance obligations have been fulfilled and control has been transferred to the customer pursuant to the contract’s terms, which is generally upon delivery to the customer. The amount of revenue we recognize is equal to the fixed amount of the transaction price, adjusted for our estimates of a number of significant variable components including, but not limited to, estimates for chargebacks, rebates, sales incentives and allowances, DSA and other fees for services, returns and allowances, which we collectively refer to as sales deductions. The Company utilizes the expected value method when estimating the amount of variable consideration to include in the transaction price with respect to each of the foregoing variable components and the most likely amount method when estimating the amount of variable consideration to include in the transaction price with respect to future potential milestone payments that do not qualify for the sales- and usage-based royalty exception. Variable consideration is included in the transaction price only to the extent it is probable that a significant revenue reversal will not occur when the uncertainty associated with the variable consideration is resolved. Payment terms for these types of contracts generally fall within 30 to 90 days of invoicing. At December 31, 2020 and 2019, our reserves for sales deductions totaled $605.6 million and $660.3 million, respectively. These amounts relate primarily to our estimates of unsettled obligations for returns and allowances, rebates and chargebacks. The most significant sales deduction reserves relate to returns for the Branded Pharmaceuticals segment, and to returns, wholesaler chargebacks and rebates for the Sterile Injectables and Generic Pharmaceuticals segments. Our estimates are based on factors such as our direct and indirect customers’ buying patterns and the estimated resulting contractual deduction rates, historical experience, specific known market events and estimated future trends, current contractual and statutory requirements, industry data, estimated customer inventory levels, current contract sales terms with our direct and indirect customers and other competitive factors. Significant judgment and estimation is required in developing the foregoing and other relevant assumptions. The most significant sales deductions are further described below. Returns and Allowances—Consistent with industry practice, we maintain a return policy that allows our customers to return products within a specified period of time both subsequent to and, in certain cases, prior to the products’ expiration dates. Our return policy generally allows customers to receive credit for expired products within six months prior to expiration and within between six months and one year after expiration. Our provision for returns and allowances consists of our estimates for future product returns, pricing adjustments and delivery errors. Rebates—Our provision for rebates, sales incentives and other allowances can generally be categorized into the following four types: •direct rebates; •indirect rebates; •governmental rebates, including those for Medicaid, Medicare and TRICARE, among others; and •managed-care rebates. We establish contracts with wholesalers, chain stores and indirect customers that provide for rebates, sales incentives, DSA fees and other allowances. Some customers receive rebates upon attaining established sales volumes. Direct rebates are generally rebates paid to direct purchasing customers based on a percentage applied to a direct customer’s purchases from us, including fees paid to wholesalers under our DSAs, as described above. Indirect rebates are rebates paid to indirect customers that have purchased our products from a wholesaler under a contract with us. We are subject to rebates on sales made under governmental and managed-care pricing programs based on relevant statutes with respect to governmental pricing programs and contractual sales terms with respect to managed-care providers and GPOs. For example, we are required to provide a discount on our brand-name products to patients who fall within the Medicare Part D coverage gap, also referred to as the donut hole. We participate in various federal and state government-managed programs whereby discounts and rebates are provided to participating government entities. For example, Medicaid rebates are amounts owed based upon contractual agreements or legal requirements with public sector (Medicaid) benefit providers after the final dispensing of the product by a pharmacy to a benefit plan participant. Chargebacks—We market and sell products to both: (i) direct customers including wholesalers, distributors, warehousing pharmacy chains and other direct purchasing groups and (ii) indirect customers including independent pharmacies, non-warehousing chains, MCOs, GPOs and government entities. We enter into agreements with certain of our indirect customers to establish contract pricing for certain products. These indirect customers then independently select a wholesaler from which to purchase the products at these contracted prices. Alternatively, we may pre-authorize wholesalers to offer specified contract pricing to other indirect customers. Under either arrangement, we provide credit to the wholesaler for any difference between the contracted price with the indirect customer and the wholesaler’s invoice price. Such credit is called a chargeback. Prior to the adoption of ASC 606, the Company accounted for revenue recognition and sales deductions under Accounting Standards Codification Topic 605, Revenue Recognition. Contract Assets and Contract Liabilities. Contract assets represent the Company’s right to consideration in exchange for goods or services that the Company has transferred when that right is conditioned on something other than the passage of time. The Company records revenue and a corresponding contract asset when it fulfills a contractual performance obligation, but must also fulfill one or more additional performance obligations before being entitled to payment. Once the Company’s right to consideration becomes unconditional, the contract asset amount is reclassified as Accounts receivable. Contract liabilities represent the Company’s obligation to transfer goods or services to a customer. The Company records a contract liability generally upon receipt of consideration in advance of fulfilling one or more of its contractual performance obligations. Upon completing each performance obligation, the corresponding contract liability amount is reversed and revenue is recognized. Contract assets and liabilities related to rights and obligations arising from a single contract, or a series of contracts combined and accounted for as a single contract, are generally presented on a net basis. Contract assets and liabilities are further describedCost of revenues includes all costs directly related to bringing both purchased and manufactured products to their final selling destination. Amounts include purchasing and receiving costs, direct and indirect costs to manufacture products including direct materials, direct labor and direct overhead expenses necessary to acquire and convert purchased materials and supplies into finished goods, royalties paid or owed by Endo on certain in-licensed products, inspection costs, depreciation of certain property, plant and equipment, amortization of intangible assets, lease costs, warehousing costs, freight charges, costs to operate our equipment and other shipping and handling costs, among others.
Research and Development Expense	Expenditures for R&D are expensed as incurred. Total R&D expenses include, among other things, the costs of discovery research, preclinical development, early- and late-clinical development and drug formulation, clinical trials, materials, medical support of marketed products and certain upfront and milestone payments. R&D spending also includes enterprise-wide costs which support our overall R&D infrastructure. Property, plant and equipment that are acquired or constructed for R&D activities and that have alternate future uses are capitalized and depreciated over their estimated useful lives on a straight-line basis. Contractual upfront and milestone payments made to third parties are generally: (i) expensed as incurred up to the point of regulatory approval and (ii) capitalized and amortized over the related product’s remaining useful life subsequent to regulatory approval. Amounts capitalized for such payments are included in Other intangibles, net in the Consolidated Balance Sheets.
Cash and Cash Equivalents	The Company considers all highly liquid money market instruments with an original maturities of three months or less when purchased to be cash equivalents. At December 31, 2020 and 2019, cash equivalents were deposited in financial institutions and consisted almost entirely of immediately available fund balances. The Company maintains its cash deposits and cash equivalents with financial institutions it believes to be well-known and stable.
Restricted Cash and Cash Equivalents	Cash and cash equivalents that are restricted as to withdrawal or use under the terms of certain contractual agreements are excluded from Cash and cash equivalents in the Consolidated Balance Sheets. For additional information see Note 7. Fair Value Measurements.
Accounts Receivable	The Company adopted Accounting Standards Codification Topic 326, Financial Instruments-Credit Losses (ASC 326) on January 1, 2020. For further discussion of the adoption, refer to the “Recent Accounting Pronouncements Adopted or Otherwise Effective as of December 31, 2020” section below. Subsequent to the adoption of ASC 326, our accounts receivable balance is stated at amortized cost less an allowance determined using the expected credit loss model. In addition, our accounts receivable balance is reduced by certain sales deduction reserves where we have the right of offset with the customer. We generally do not require collateral.
Concentration of Credit Risk and Credit Losses	Financial instruments that potentially subject us to significant concentrations of credit risk consist primarily of cash equivalents, restricted cash equivalents and accounts receivable. From time to time, we invest our excess cash in high-quality, liquid money market instruments maintained by major banks and financial institutions. We have not experienced any losses on our cash equivalents.With respect to our accounts receivable, we have no history of significant losses. Approximately 90% and 88% of our gross trade accounts receivable balances represent amounts due from three customers (Cardinal Health, Inc., McKesson Corporation and AmerisourceBergen Corporation) at December 31, 2020 and December 31, 2019, respectively. We perform ongoing credit evaluations of these and our other customers based on information available to us. We consider these and other factors, including changes in the composition and aging of our accounts receivable, in developing our allowance for expected credit losses. The estimated allowance was not material to the Company’s Consolidated Financial Statements at December 31, 2020 or December 31, 2019, nor were the changes to the allowance during any of the periods presented.We do not currently expect our current or future exposures to credit losses to have a significant impact on us. However, our customers’ ability to pay us on a timely basis, or at all, could be affected by factors specific to their respective businesses and/or by economic conditions, including those related to the COVID-19 pandemic, the extent of which cannot be fully predicted
Inventory	Inventories consist of raw materials, work-in-process and finished goods. Inventory that is in excess of the amount expected to be sold within one year is classified as long-term inventory and is recorded in Other assets in the Consolidated Balance Sheets. The Company capitalizes inventory costs associated with certain products prior to regulatory approval and product launch when it is reasonably certain, based on management’s judgment of future commercial use and net realizable value, that the pre-launch inventories will be saleable. The determination to capitalize is made on a product-by-product basis. The Company could be required to write down previously capitalized costs related to pre-launch inventories upon a change in such judgment, a denial or delay of approval by regulatory bodies, a delay in commercialization or other potential factors. Our inventories are stated at the lower of cost or net realizable value.Cost is determined by the first-in, first-out method. It includes materials, direct labor and an allocation of overhead, but excludes certain period charges and unallocated overheads that are charged to expense in the period in which they are incurred. Unallocated overheads can occur as a consequence of abnormally low production or idle facilities.Net realizable value is determined by the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. When necessary, we write-down inventories to net realizable value based on forecasted demand and market and regulatory conditions, which may differ from actual results.
Property, Plant and Equipment	Property, plant and equipment is generally stated at cost less accumulated depreciation. Major improvements are capitalized, while routine maintenance and repairs are expensed as incurred. Costs incurred during the construction or development of property, plant and equipment are capitalized as assets under construction. Once an asset has been placed into service, depreciation expense is taken on a straight-line basis over the estimated useful life of the related assets or, in the case of leasehold improvements and finance lease assets, over the shorter of the estimated useful life and the lease term.
Research, Development, and Computer Software	The Company capitalizes certain costs incurred in connection with obtaining or developing internal-use software, including external direct costs of material and services, and payroll costs for employees directly involved with the software development. Capitalized software costs are included in Property, plant and equipment, net in the Consolidated Balance Sheets and depreciated beginning when the software project is substantially complete and the asset is ready for its intended use. Costs incurred during the preliminary project stage and post-implementation stage, as well as maintenance and training costs, are expensed as incurred.
Lease Accounting	The Company adopted ASC 842 on January 1, 2019 using the modified retrospective approach with an effective date of January 1, 2019 for leases that existed on that date. The Company elected to apply certain practical expedients permitted under the transition guidance within ASC 842 to leases that commenced before January 1, 2019, including the package of practical expedients, as well as the practical expedient permitting the Company to not assess whether certain land easements contain leases. Due to the Company's election of these practical expedients, the Company carried forward certain historical conclusions for existing contracts, including conclusions relating to initial direct costs and to the existence and classification of leases. ASC 842 applies to a number of arrangements to which the Company is party. Whenever the Company enters into a new arrangement, it must determine, at the inception date, whether the arrangement is or contains a lease. This determination generally depends on whether the arrangement conveys to the Company the right to control the use of an explicitly or implicitly identified asset for a period of time in exchange for consideration. Control of an underlying asset is conveyed to the Company if the Company obtains the rights to direct the use of and to obtain substantially all of the economic benefits from using the underlying asset. If a lease exists, the Company must then determine the separate lease and nonlease components of the arrangement. Each right to use an underlying asset conveyed by a lease arrangement should generally be considered a separate lease component if it both: (i) can benefit the Company without depending on other resources not readily available to the Company and (ii) does not significantly affect and is not significantly affected by other rights of use conveyed by the lease. Aspects of a lease arrangement that transfer other goods or services to the Company but do not meet the definition of lease components are considered nonlease components. The consideration owed by the Company pursuant to a lease arrangement is generally allocated to each lease and nonlease component for accounting purposes. However, the Company has elected, for all of its leases, to not separate lease and nonlease components. Each lease component is accounted for separately from other lease components, but together with the associated nonlease components. For each lease, the Company must then determine the lease term, the present value of lease payments and the classification of the lease as either an operating or finance lease. The lease term is the period of the lease not cancellable by the Company, together with periods covered by: (i) renewal options the Company is reasonably certain to exercise, (ii) termination options the Company is reasonably certain not to exercise and (iii) renewal or termination options that are controlled by the lessor. The present value of lease payments is calculated based on: •Lease payments—Lease payments include fixed and certain variable payments, less lease incentives, together with amounts probable of being owed by the Company under residual value guarantees and, if reasonably certain of being paid, the cost of certain renewal options and early termination penalties set forth in the lease arrangement. Lease payments exclude consideration that is not related to the transfer of goods and services to the Company. •Discount rate—The discount rate must be determined based on information available to the Company upon the commencement of a lease. Lessees are required to use the rate implicit in the lease whenever such rate is readily available; however, as the implicit rate in the Company’s leases is generally not readily determinable, the Company generally uses the hypothetical incremental borrowing rate it would have to pay to borrow an amount equal to the lease payments, on a collateralized basis, over a timeframe similar to the lease term. In making the determination of whether a lease is an operating lease or a finance lease, the Company considers the lease term in relation to the economic life of the leased asset, the present value of lease payments in relation to the fair value of the leased asset and certain other factors, including the lessee’s and lessor’s rights, obligations and economic incentives over the term of the lease. Generally, upon the commencement of a lease, the Company will record a lease liability and a right-of-use asset. However, the Company has elected, for all underlying assets with initial lease terms of twelve months or less (known as short-term leases), to not recognize a lease liability or right-of-use asset. Lease liabilities are initially recorded at lease commencement as the present value of future lease payments. Right-of-use assets are initially recorded at lease commencement as the initial amount of the lease liability, together with the following, if applicable: (i) initial direct costs incurred by the lessee and (ii) lease payments made by the lessor, net of lease incentives received, prior to lease commencement. Over the lease term, the Company generally increases its lease liabilities using the effective interest method and decreases its lease liabilities for lease payments made. For finance leases, amortization expense and interest expense are recognized separately in the Consolidated Statements of Operations, with amortization expense generally recorded on a straight-line basis over the lease term and interest expense recorded using the effective interest method. For operating leases, a single lease cost is generally recognized in the Consolidated Statements of Operations on a straight-line basis over the lease term unless an impairment has been recorded with respect to a leased asset. Lease costs for short-term leases not recognized in the Consolidated Balance Sheets are recognized in the Consolidated Statements of Operations on a straight-line basis over the lease term. Variable lease costs not initially included in the lease liability and right-of-use asset impairment charges are expensed as incurred. Right-of-use assets are assessed for impairment, similar to other long-lived assets. Prior to the adoption of ASC 842, the Company accounted for leases under Accounting Standards Codification Topic 840, Leases (ASC 840).
Cloud Computing Arrangements	The Company may from time to time incur costs in connection with hosting arrangements that are service contracts. Subsequent to the Company’s January 1, 2019 adoption of Accounting Standards Update (ASU) No. 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (ASU 2018-15), the Company capitalizes any such implementation costs, expenses them over the terms of the respective hosting arrangements and subjects them to impairment testing consistent with other long-lived assets.
Finite-Lived Intangible Assets, Developed Technology and License Rights	Our finite-lived intangible assets consist of license rights and developed technology. Upon acquisition, intangible assets are generally initially recorded at fair value if acquired in a business combination, or at cost if otherwise. There are several methods that can be used to determine fair value. For intangible assets, we typically use an income approach. This approach starts with our forecast of all of the expected future net cash flows. Revenues are estimated based on relevant market size and growth factors, expected industry trends, individual project life cycles and, if applicable, the life of any estimated period of marketing exclusivity, such as that granted by a patent. The pricing, margins and expense levels of similar products are considered if available. For certain licensed assets, our estimates of future cash flows consider periods covered by renewal options to the extent we have the intent and ability, at the date of the estimate, to renew the underlying license agreements. These cash flows are then adjusted to present value by applying an appropriate discount rate that reflects the risk factors associated with the cash flow streams. To the extent an intangible asset is deemed to have a finite life, it is then amortized over its estimated useful life using either the straight-line method or, in the case of certain developed technology assets, an accelerated amortization model. The values of these various assets are subject to continuing scientific, medical and marketplace uncertainty. Factors giving rise to our initial estimate of useful lives are subject to change. Significant changes to any of these factors may result in adjustments to the useful life of the asset and an acceleration of related amortization expense, which could cause our net income and net income per share to decrease. Amortization expense is not recorded on assets held for sale. As further described below under the heading “Long-Lived Asset Impairment Testing,” our finite-lived intangible assets are also subject to impairment reviews. Developed Technology. Our developed technology assets subject to amortization have useful lives ranging from 4 years to 20 years, with a weighted average useful life of approximately 11 years. We determine amortization periods and methods of amortization for developed technology assets based on our assessment of various factors impacting estimated useful lives and the timing and extent of estimated cash flows of the acquired assets, including the strength of the intellectual property protection of the product (if applicable), contractual terms and various other competitive and regulatory issues. License Rights. Our license rights subject to amortization have useful lives ranging from 12 years to 15 years, with a weighted average useful life of approximately 14 years. We determine amortization periods for licenses based on our assessment of various factors including the expected launch date of the product, the strength of the intellectual property protection of the product (if applicable), contractual terms and various other competitive, developmental and regulatory issues.
Long-Lived Asset Impairment Testing	Long-lived assets, including property, plant and equipment and finite-lived intangible assets, are assessed for impairment whenever events or changes in circumstances indicate the assets may not be recoverable. Recoverability of an asset that will continue to be used in our operations is measured by comparing the carrying amount of the asset to the forecasted undiscounted future cash flows related to the asset. In the event the carrying amount of the asset exceeds its undiscounted future cash flows and the carrying amount is not considered recoverable, impairment may exist. An impairment loss, if any, is measured as the excess of the asset’s carrying amount over its fair value, generally based on a discounted future cash flow method, independent appraisals or offers from prospective buyers. An impairment loss would be recognized in the Consolidated Statements of Operations in the period that the impairment occurs.
In Process Research and Development Assets	In-process research and development assets acquired in an asset acquisition are immediately expensed unless there is an alternative future use in other research and development projects. Otherwise, acquired in-process research and development assets are generally recognized as indefinite-lived intangible assets. Such assets are generally initially recorded at fair value if acquired in a business combination, or at cost if otherwise. Indefinite-lived intangible assets are not subject to amortization. Instead, they are tested for impairment annually and when events or changes in circumstances indicate that the asset might be impaired. Our annual assessment is performed as of October 1. If the fair value of the intangible assets is less than its carrying amount, an impairment loss is recognized for the difference. Assets that receive regulatory approval are reclassified and accounted for as finite-lived intangible assets.
Goodwill	While amortization expense is not recorded on goodwill, goodwill is subject to impairment reviews. An impairment assessment is conducted as of October 1, or more frequently whenever events or changes in circumstances indicate that the asset might be impaired.We perform the goodwill impairment test by estimating the fair value of the reporting units using an income approach that utilizes a discounted cash flow model or, where appropriate, a market approach. Any goodwill impairment charge we recognize for a reporting unit is equal to the lesser of (i) the total goodwill allocated to that reporting unit and (ii) the amount by which that reporting unit’s carrying amount exceeds its fair value.
Commitments and Contingencies	The Company is subject to various patent challenges, product liability claims, government investigations and other legal proceedings in the ordinary course of business. Contingent accruals and legal settlements are recorded in the Consolidated Statements of Operations as Litigation-related and other contingencies, net (or as Discontinued operations, net of tax in the case of vaginal mesh matters) when the Company determines that a loss is both probable and reasonably estimable. Legal fees and other expenses related to litigation are expensed as incurred and included in Selling, general and administrative expenses in the Consolidated Statements of Operations (or as Discontinued operations, net of tax in the case of vaginal mesh matters).Due to the fact that legal proceedings and other contingencies are inherently unpredictable, our estimates of the probability and amount of any such liabilities involve significant judgment regarding future events. The Company records receivables from its insurance carriers only when the realization of the potential claim for recovery is considered probable.
Acquisitions and Contingent Consideration	We evaluate acquisitions of assets and other similar transactions to assess whether or not the transaction should be accounted for as a business combination or asset acquisition by first applying a screen test to determine whether substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets. If so, the transaction is accounted for as an asset acquisition. If not, further determination is required as to whether or not we have acquired inputs and processes that have the ability to create outputs, which would meet the definition of a business. Significant judgment is required in the application of the screen test to determine whether an acquisition is a business combination or an acquisition of assets.Acquisitions meeting the definition of business combinations are accounted for using the acquisition method of accounting, which requires that the purchase price be allocated to the net assets acquired at their respective fair values. In a business combination, any excess of the purchase price over the estimated fair values of the net assets acquired is recorded as goodwill.Certain of the Company’s acquisitions involve the potential for future payment of consideration that is contingent upon the occurrence of a future event, such as (i) the achievement of specified regulatory, operational and/or commercial milestones or (ii) royalty payments, such as those relating to future product sales. Contingent consideration liabilities related to an asset acquisition are initially recorded when considered probable and reasonably estimable, which may occur subsequent to the acquisition date. Subsequent changes in the recorded amounts are generally recorded as adjustments to the cost of the acquired assets. Contingent consideration liabilities related to a business combination are initially recorded at fair value on the acquisition date using unobservable inputs. These inputs include the estimated amount and timing of projected cash flows, the probability of success (achievement of the contingent event) and the risk-adjusted discount rate used to present value the probability-weighted cash flows. Subsequent to the acquisition date, at each reporting period, the Company remeasures its contingent consideration liabilities to their current estimated fair values, with changes recorded in earnings. Changes to any of the inputs used in determining fair value may result in fair value adjustments that differ significantly from the actual remeasurement adjustments recognized.
Asset Acquisitions	For asset acquisitions, a cost accumulation model is used to determine the cost of an asset acquisition. Direct transaction costs are recognized as part of the cost of an asset acquisition. We also evaluate which elements of a transaction should be accounted for as a part of an asset acquisition and which should be accounted for separately. The cost of an asset acquisition, including transaction costs, is allocated to identifiable assets acquired and liabilities assumed based on a relative fair value basis. Goodwill is not recognized in an asset acquisition. Any difference between the cost of an asset acquisition and the fair value of the net assets acquired is allocated to the non-monetary identifiable assets based on their relative fair values. Assets acquired as part of an asset acquisition that are considered to be in-process research and development are immediately expensed unless there is an alternative future use in other research and development projects.
Share Repurchases	The Company accounts for the repurchase of ordinary shares, if any, at par value. Under applicable Irish law, ordinary shares repurchased are retired and not displayed separately as treasury stock. Upon retirement of the ordinary shares, the Company records the difference between the weighted average cost of such ordinary shares and the par value of the ordinary shares as an adjustment to Accumulated deficit in the Consolidated Balance Sheets.
Advertising Cost	Advertising costs are expensed as incurred and included in Selling, general and administrative expenses in the Consolidated Statements of Operations. Advertising costs amounted to $76.0 million, $63.1 million and $49.6 million for the years ended December 31, 2020, 2019 and 2018, respectively.
Restructuring	Restructuring charges related to nonretirement postemployment benefits that fall under Accounting Standards Codification Topic 712, Compensation—Nonretirement Postemployment Benefits (ASC 712) are recognized when the severance liability is determined to be probable of being paid and reasonably estimable. One-time benefits related to restructurings, if any, are recognized in accordance with Accounting Standards Codification Topic 420, Exit or Disposal Cost Obligations (ASC 420) when the programs are approved, the affected employees are identified, the terms of the arrangement are established, it is determined changes to the plan are unlikely to occur and the arrangements are communicated to employees. Other restructuring costs are generally expensed as incurred.
Share-Based Compensation	The Company grants share-based compensation awards to certain employees and non-employee directors. Generally, the grant-date fair value of each award is recognized as expense over the requisite service period. However, expense recognition differs in the case of certain performance share units (PSUs) where the ultimate payout is performance-based. For these awards, at each reporting period, the Company estimates the ultimate payout and adjusts the cumulative expense based on its estimate and the percent of the requisite service period that has elapsed. Share-based compensation expense is reduced for estimated future forfeitures. These estimates are revised in future periods if actual forfeitures differ from the estimates. Changes in forfeiture estimates impact compensation expense in the period in which the change in estimate occurs. New ordinary shares are generally issued upon the exercise of stock options or vesting of stock awards by employees and non-employee directors. Refer to Note 19. Share-based Compensation for additional discussion, including the accounting treatment for long-term cash incentive awards that will be settled in ordinary shares.
Foreign Currency	The Company operates in various jurisdictions both inside and outside of the U.S. While the Company’s reporting currency is the U.S. dollar, the Company has concluded that certain of its distinct and separable operations have functional currencies other than the U.S. dollar. Further, certain of the Company’s operations hold assets and liabilities and recognize income and expenses denominated in various local currencies, which may differ from their functional currencies. Assets and liabilities are first remeasured from local currency to functional currency, generally using end-of-period exchange rates. Foreign currency income and expenses are generally remeasured using average exchange rates in effect during the year. In the case of nonmonetary assets and liabilities such as inventories, prepaid expenses, property, plant and equipment, goodwill and other intangible assets, and related income statement amounts, such as depreciation expense, historical exchange rates are used for remeasurement. The net effect of remeasurement is included in Other (income) expense, net in the Consolidated Statements of Operations. As part of the Company’s consolidation process, assets and liabilities of entities with functional currencies other than the U.S. dollar are translated into U.S. dollars at end-of-period exchange rates. Income and expenses are translated using average exchange rates in effect during the year. The net effect of translation, as well as any foreign currency gains or losses on intercompany transactions considered to be of a long-term investment nature, are recognized as foreign currency translation, a component of Other comprehensive income (loss). Upon the sale or liquidation of an investment in a foreign operation, the Company records a reclassification adjustment out of Other comprehensive income (loss) for the corresponding accumulated amount of foreign currency translation gain or loss.
Income Taxes	The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The Company records net deferred tax assets to the extent it believes these assets will more likely than not be realized. In making such a determination, the Company considers all available positive and negative evidence, including projected future taxable income, tax-planning strategies and results of recent operations. In the event that the Company were to determine that it would be able to realize its deferred tax assets in the future in excess of their net recorded amount, the Company would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income tax.The Company records uncertain tax positions on the basis of a two-step process whereby the Company first determines whether it is more likely than not that the tax positions will be sustained based on the technical merits of the position and then measures those tax positions that meet the more-likely-than-not recognition threshold. The Company recognizes the largest amount of tax benefit that is greater than 50% likely to be realized upon ultimate settlement with the tax authority. The Company recognizes interest and penalties related to unrecognized tax benefits within the Income tax (benefit) expense line in the Consolidated Statements of Operations. Accrued interest and penalties are included within the related tax liability line in the Consolidated Balance Sheets.
Comprehensive Income	Comprehensive income or loss includes all changes in equity during a period except those that resulted from investments by or distributions to a company’s shareholders. Other comprehensive income or loss refers to revenues, expenses, gains and losses that are included in comprehensive income, but excluded from net income as these amounts are recorded directly as an adjustment to shareholders’ equity.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recent Accounting Pronouncements Adopted or Otherwise Effective as of December 31, 2020 In June 2016, the Financial Accounting Standards Board (FASB) issued ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments (ASU 2016-13). ASU 2016-13, together with a series of subsequently-issued related ASUs, has been codified in ASC 326. ASC 326 establishes new requirements for companies to estimate expected credit losses when measuring certain financial assets, including accounts receivable. The Company adopted ASC 326 using a modified retrospective approach with an effective date of January 1, 2020. The adoption of ASC 326 did not have a material impact on the Company’s Consolidated Financial Statements.

Summary of Significant Accounting Policies (Tables)	12 Months Ended
Summary of Significant Accounting Policies (Tables)	Dec. 31, 2020
Accounting Changes and Error Corrections [Abstract]
Schedules of concentration of risk, by risk factor	10% or more of our total consolidated revenues during the years ended December 31, 2020, 2019 and 2018 are as follows:202020192018AmerisourceBergen Corporation33 %34 %32 %McKesson Corporation27 %26 %27 %Cardinal Health, Inc.24 %25 %26

Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2020

Discontinued Operations and Disposal Groups [Abstract]

Schedule of disposal groups, including discontinued operations, income statement, balance sheet and additional disclosures

The following table provides the operating results of Astora Discontinued operations, net of tax, for the years ended December 31, 2020, 2019 and 2018 (in thousands):



	2020		2019		2018
Litigation-related and other contingencies, net	$	41,097	$	30,400	$	34,000
Loss from discontinued operations before income taxes	$	(67,847)	$	(62,052)	$	(69,702)
Income tax benefit	$	(4,327)	$	—	$	—
Discontinued operations, net of tax	$	(63,520)	$	(62,052)	$	(69,702)

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

Restructuring (Tables)

12 Months Ended

Dec. 31, 2020

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Reserve by Type of Cost

Changes to the liability for the 2017 Generic Pharmaceuticals Restructuring Initiative during the year ended December 31, 2019 were as follows (in thousands):


	Employee Separation, Continuity and Other Benefit-Related Costs		Certain Other Restructuring Costs		Total
Liability balance as of December 31, 2018	$	4,239	$	48	$	4,287

Cash payments	(4,239)		(48)		(4,287)
Liability balance as of December 31, 2019	$	—	$	—	$	—

Changes to the liability for the 2020 Restructuring Initiative during the year ended December 31, 2020 were as follows (in thousands):


	Employee Separation, Continuity and Other Benefit-Related Costs		Certain Other Restructuring Costs		Total
Liability balance as of December 31, 2019	$	—	$	—	$	—
Net charges	60,025		664		60,689
Cash payments	(1,687)		—		(1,687)
Liability balance as of December 31, 2020	$	58,338	$	664	$	59,002

Restructuring and Related Costs

As a result of the 2020 Restructuring Initiative, the Company incurred the following pre-tax net charges during the year ended December 31, 2020 (in thousands):




	2020
Accelerated depreciation charges	$	22,459
Asset impairment charges	7,391
Charges to increase excess inventory reserves	3,097
Employee separation, continuity and other benefit-related costs	60,025
Certain other restructuring costs	664
Total	$	93,636

During the year ended December 31, 2020, the pre-tax net charges related to the 2020 Restructuring Initiative were included in our Consolidated Statements of Operations as follows (in thousands):




	2020
Cost of revenues	$	53,297
Selling, general and administrative	27,857
Research and development	5,091
Asset impairment charges	7,391

Total	$	93,636

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2020

Asset Acquisition [Abstract]

Schedule of Asset Acquisition

The following table represents the costs accumulated to acquire BioSpecifics (in thousands):


	December 2, 2020
Base purchase price (1)	$	650,029
Vested employee options and benefits (2)	10,280
Transaction costs	10,268
Less: royalty obligations discharged (3)	(14,909)
Total acquisition consideration	$	655,668

__________

(1)Represents cash consideration paid for 6,159,975 shares tendered and 1,184,980 remaining shares not tendered, but automatically cancelled and funded in an escrow account.

(3)Represents the total reduction to the base purchase price for the pre-acquisition accrued and unpaid royalty liability discharged on the date of closing.


	December 2, 2020
Cash and cash equivalents	$	21,073
Investments (1)	89,050
Intangible assets—developed technology	673,796
Intangible assets—in-process research and development	28,602
Other acquired assets	3,089
Deferred tax liability	(156,441)
Other assumed liabilities	(3,501)
Net identifiable assets acquired	$	655,668

__________

The following table summarizes changes to the gross carrying amount, accumulated amortization and net book amount of the Existing Intangible Assets and the new intangible assets resulting from the BioSpecifics acquisition (in thousands):


	Gross Carrying Amount		Accumulated Amortization		Net Book Amount
Asset balances immediately prior to BioSpecifics acquisition	$	1,580,600	$	(725,123)	$	855,477
Additional costs incurred in connection with BioSpecifics acquisition	673,796		—		673,796
Asset balances immediately following BioSpecifics acquisition	$	2,254,396	$	(725,123)	$	1,529,273

Segment Results (Tables)

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Schedule of reportable segments information

The following represents selected information for the Company’s reportable segments for the years ended December 31, 2020, 2019 and 2018 (in thousands):



	2020		2019		2018
Net revenues from external customers:
Branded Pharmaceuticals	$	781,780	$	855,402	$	862,832
Sterile Injectables	1,238,847		1,063,131		929,566
Generic Pharmaceuticals	783,110		879,882		1,012,215
International Pharmaceuticals (1)	99,337		115,949		142,465
Total net revenues from external customers	$	2,903,074	$	2,914,364	$	2,947,078
Segment adjusted income from continuing operations before income tax:
Branded Pharmaceuticals	$	377,526	$	426,677	$	412,543
Sterile Injectables	950,145		780,799		695,363
Generic Pharmaceuticals	87,178		159,716		317,892
International Pharmaceuticals	41,022		44,758		59,094
Total segment adjusted income from continuing operations before income tax	$	1,455,871	$	1,411,950	$	1,484,892

__________

(1)Revenues generated by our International Pharmaceuticals segment are primarily attributable to external customers located in Canada.



	2020		2019		2018
Total consolidated loss from continuing operations before income tax	$	(26,518)	$	(344,904)	$	(938,832)
Interest expense, net	532,939		538,734		521,656
Corporate unallocated costs (1)	157,723		168,136		200,592
Amortization of intangible assets	427,543		543,862		622,339
Inventory step-up	—		—		261
Upfront and milestone payments to partners (2)	35,075		6,623		45,108
Continuity and separation benefits and other cost reduction initiatives (3)	126,282		34,598		86,295
Certain litigation-related and other contingencies, net (4)	(19,049)		11,211		13,809
Certain legal costs (5)	67,819		65,282		43,753
Asset impairment charges (6)	120,344		526,082		916,939
Acquisition-related and integration items, net (7)	16,549		(46,098)		21,914
Gain on extinguishment of debt	—		(119,828)		—

Foreign currency impact related to the remeasurement of intercompany debt instruments	1,919		4,362		(5,486)
Other, net (8)	15,245		23,890		(43,456)
Total segment adjusted income from continuing operations before income tax	$	1,455,871	$	1,411,950	$	1,484,892

__________

(1)Amounts include certain corporate overhead costs, such as headcount, facility and corporate litigation expenses and certain other income and expenses.

(5)Amounts relate to opioid-related legal expenses.

(7)Amounts primarily relate to changes in the fair value of contingent consideration.

Disaggregation of revenue

The Company believes these categories depict how the nature, timing and uncertainty of revenue and cash flows are affected by economic factors.



	2020		2019		2018
Branded Pharmaceuticals:
Specialty Products:
XIAFLEX®	$	316,234	$	327,638	$	264,638
SUPPRELIN® LA	88,182		86,797		81,707
Other Specialty (1)	92,662		105,241		98,230
Total Specialty Products	$	497,078	$	519,676	$	444,575
Established Products:
PERCOCET®	$	110,112	$	116,012	$	122,901
TESTOPEL®	35,234		55,244		58,377

Other Established (2)	139,356		164,470		236,979
Total Established Products	$	284,702	$	335,726	$	418,257
Total Branded Pharmaceuticals (3)	$	781,780	$	855,402	$	862,832
Sterile Injectables:
VASOSTRICT®	$	785,646	$	531,737	$	453,767
ADRENALIN®	152,074		179,295		143,489
Ertapenem for injection	65,607		104,679		57,668
APLISOL®	36,220		61,826		64,913
Other Sterile Injectables (4)	199,300		185,594		209,729
Total Sterile Injectables (3)	$	1,238,847	$	1,063,131	$	929,566
Total Generic Pharmaceuticals (5)	$	783,110	$	879,882	$	1,012,215
Total International Pharmaceuticals (6)	$	99,337	$	115,949	$	142,465
Total revenues, net	$	2,903,074	$	2,914,364	$	2,947,078

__________

(1)Products included within Other Specialty are NASCOBAL® Nasal Spray and AVEED®.

(2)Products included within Other Established include, but are not limited to, EDEX® and LIDODERM®.

(4)Products included within Other Sterile Injectables include ephedrine sulfate injection and others.

The following represents depreciation expense for our reportable segments for the years ended December 31, 2020, 2019 and 2018 (in thousands):


	2020		2019		2018

Branded Pharmaceuticals	$	11,758	$	12,573	$	14,542
Sterile Injectables	17,400		14,287		10,500
Generic Pharmaceuticals	52,614		32,689		66,016
International Pharmaceuticals	4,530		4,234		4,925
Corporate unallocated	4,962		5,217		5,385
Total depreciation expense	$	91,264	$	69,000	$	101,368

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of cash and cash equivalents

The following table presents current and noncurrent restricted cash and cash equivalent balances at December 31, 2020 and December 31, 2019 (in thousands):


	Consolidated Balance Sheets Line Items	December 31, 2020		December 31, 2019
Restricted cash and cash equivalents—current	Restricted cash and cash equivalents	$	171,563	$	247,457
Restricted cash and cash equivalents—noncurrent	Other assets	—		18,400
Total restricted cash and cash equivalents		$	171,563	$	265,857

Restrictions on cash and cash equivalents

The following table presents current and noncurrent restricted cash and cash equivalent balances at December 31, 2020 and December 31, 2019 (in thousands):


	Consolidated Balance Sheets Line Items	December 31, 2020		December 31, 2019
Restricted cash and cash equivalents—current	Restricted cash and cash equivalents	$	171,563	$	247,457
Restricted cash and cash equivalents—noncurrent	Other assets	—		18,400
Total restricted cash and cash equivalents		$	171,563	$	265,857

Financial assets and liabilities measured at fair value on recurring basis

The Company’s financial assets and liabilities measured at fair value on a recurring basis at December 31, 2020 and December 31, 2019 were as follows (in thousands):


	Fair Value Measurements at December 31, 2020 using:
	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total
Assets:
Money market funds	$	214,120	$	—	$	—	$	214,120
Liabilities:
Acquisition-related contingent consideration—current	$	—	$	—	$	8,566	$	8,566
Acquisition-related contingent consideration—noncurrent	$	—	$	—	$	27,683	$	27,683


	Fair Value Measurements at December 31, 2019 using:
	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total
Assets:
Money market funds	$	427,033	$	—	$	—	$	427,033
Liabilities:
Acquisition-related contingent consideration—current	$	—	$	—	$	6,534	$	6,534
Acquisition-related contingent consideration—noncurrent	$	—	$	—	$	23,123	$	23,123

Changes to liability for acquisition-related contingent consideration



	2020		2019
Beginning of period	$	29,657	$	116,703
Amounts settled	(9,885)		(41,448)
Changes in fair value recorded in earnings	16,353		(46,098)
Effect of currency translation	124		500
End of period	$	36,249	$	29,657

The following table presents changes to the Company’s liability for acquisition-related contingent consideration during the year ended December 31, 2020 by acquisition (in thousands):


	Balance as of December 31, 2019		Changes in Fair Value Recorded in Earnings		Amounts Settled and Other		Balance as of December 31, 2020
Auxilium acquisition	$	13,207	$	2,921	$	(1,644)	$	14,484
Lehigh Valley Technologies, Inc. acquisitions	6,800		12,337		(6,037)		13,100

Other	9,650		1,095		(2,080)		8,665
Total	$	29,657	$	16,353	$	(9,761)	$	36,249

The following table presents changes to the Company’s liability for acquisition-related contingent consideration during the year ended December 31, 2019 by acquisition (in thousands):


	Balance as of December 31, 2018		Changes in Fair Value Recorded in Earnings		Amounts Settled and Other		Balance as of December 31, 2019
Auxilium acquisition	$	14,157	$	777	$	(1,727)	$	13,207
Lehigh Valley Technologies, Inc. acquisitions	34,700		(8,614)		(19,286)		6,800
VOLTAREN® Gel acquisition (1)	56,240		(37,184)		(18,870)		186
Other	11,606		(1,077)		(1,065)		9,464
Total	$	116,703	$	(46,098)	$	(40,948)	$	29,657

__________

(1)The change in fair value recorded in earnings includes the impact of certain competitive events occurring during 2019.

Summary of nonrecurring fair value measurements

The Company’s financial assets and liabilities measured at fair value on a nonrecurring basis during the years ended December 31, 2020 and 2019 were as follows (in thousands):


	Fair Value Measurements during the Year Ended December 31, 2020 (1) using:						Total Expense for the Year Ended December 31, 2020
	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs

Intangible assets, excluding goodwill (2)(3)	$	—	$	—	$	15,463	$	(79,917)
Certain property, plant and equipment	—		—		—		(1,249)
Operating lease right-of-use assets	—		—		—		(6,392)
Total	$	—	$	—	$	15,463	$	(87,558)


	Fair Value Measurements during the Year Ended December 31, 2019 (1) using:						Total Expense for the Year Ended December 31, 2019
	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs

Intangible assets, excluding goodwill (3)	$	—	$	—	$	229,680	$	(347,706)
Certain property, plant and equipment	—		—		—		(6,468)
Total	$	—	$	—	$	229,680	$	(354,174)

__________

Inventories (Tables)

12 Months Ended

Dec. 31, 2020

Inventory Disclosure [Abstract]

Schedule of inventory

Inventories consist of the following at December 31, 2020 and December 31, 2019 (in thousands):


	December 31, 2020		December 31, 2019
Raw materials (1)	$	99,495	$	124,171
Work-in-process (1)	98,753		65,392
Finished goods (1)	154,012		138,302
Total	$	352,260	$	327,865

__________

(1)The components of inventory shown in the table above are net of allowance for obsolescence.

Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Assets and liabilities, lessee

The following table presents information about the Company’s right-of-use assets and lease liabilities at December 31, 2020 and December 31, 2019 (in thousands):


	Consolidated Balance Sheets Line Items	December 31, 2020		December 31, 2019
Right-of-use assets:
Operating lease right-of-use assets	Operating lease assets	$	37,030	$	51,700
Finance lease right-of-use assets	Property, plant and equipment, net	47,549		56,793
Total right-of-use assets		$	84,579	$	108,493
Operating lease liabilities:
Current operating lease liabilities	Current portion of operating lease liabilities	$	11,613	$	10,763
Noncurrent operating lease liabilities	Operating lease liabilities, less current portion	38,132		48,299
Total operating lease liabilities		$	49,745	$	59,062
Finance lease liabilities:
Current finance lease liabilities	Accounts payable and accrued expenses	$	6,227	$	5,672
Noncurrent finance lease liabilities	Other liabilities	25,027		31,312
Total finance lease liabilities		$	31,254	$	36,984

The following table provides the weighted average remaining lease term and weighted average discount rates for our leases as of December 31, 2020 and December 31, 2019:


	December 31, 2020		December 31, 2019
Weighted average remaining lease term (years), weighted based on lease liability balances:
Operating leases	5.1 years		5.9 years
Finance leases	9.5 years		9.5 years
Weighted average discount rate (percentages), weighted based on the remaining balance of lease payments:
Operating leases	5.9	%	5.8	%
Finance leases	5.6	%	5.5	%

Lease, cost

The following table presents information about lease costs and expenses and sublease income for the years ended December 31, 2020 and 2019 (in thousands):



	Consolidated Statements of Operations Line Items	2020		2019
Operating lease cost	Various (1)	$	14,175	$	13,648
Finance lease cost:
Amortization of right-of-use assets	Various (1)	$	9,244	$	9,407
Interest on lease liabilities	Interest expense, net	$	1,716	$	1,986
Other lease costs and income:
Variable lease costs (2)	Various (1)	$	10,305	$	9,653
Operating lease right-of-use asset impairment charges	Asset impairment charges	$	6,392	$	—
Sublease income	Various (1)	$	(3,803)	$	(3,689)

__________



	2020		2019
Cost of revenues	$	11,610	$	11,168
Selling, general and administrative	$	18,108	$	17,648
Research and development	$	203	$	203

The following table provides certain cash flow and supplemental noncash information related to our lease liabilities for the years ended December 31, 2020 and 2019 (in thousands):



	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash payments for operating leases	$	14,598	$	14,940
Operating cash payments for finance leases	$	2,666	$	2,000
Financing cash payments for finance leases	$	4,884	$	9,196
Lease liabilities arising from obtaining right-of-use assets:
Operating leases	$	—	$	623
Finance leases	$	—	$	5,953

Lessee, Operating Lease, Liability, Maturity


	Operating Leases		Finance Leases
2021	$	14,012	$	7,590
2022	13,584		7,740
2023	10,438		7,894
2024	5,164		8,051
2025	4,203		909
Thereafter	11,017		12,299
Total future lease payments	$	58,418	$	44,483
Less: amount representing interest	8,673		13,229
Present value of future lease payments (lease liability)	$	49,745	$	31,254

Finance Lease, Liability, Fiscal Year Maturity


	Operating Leases		Finance Leases
2021	$	14,012	$	7,590
2022	13,584		7,740
2023	10,438		7,894
2024	5,164		8,051
2025	4,203		909
Thereafter	11,017		12,299
Total future lease payments	$	58,418	$	44,483
Less: amount representing interest	8,673		13,229
Present value of future lease payments (lease liability)	$	49,745	$	31,254

Property, Plant And Equipment (Tables)

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Schedule of property, plant and equipment

Property, plant and equipment, net consists of the following at December 31, 2020 and December 31, 2019 (in thousands):


	December 31, 2020		December 31, 2019
Land and buildings	$	291,212	$	285,866
Machinery and equipment	275,846		262,056
Leasehold improvements	74,506		70,324
Computer equipment and software	126,437		117,037
Furniture and fixtures	13,886		13,443
Assets under construction	84,759		73,213
Total property, plant and equipment, gross	$	866,646	$	821,939
Less: accumulated depreciation	(408,175)		(317,074)
Total property, plant and equipment, net	$	458,471	$	504,865

Goodwill and Other Intangibles (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of changes in the carrying amount of goodwill

Changes in the carrying amount of our goodwill for the years ended December 31, 2020 and 2019 were as follows (in thousands):


	Branded Pharmaceuticals		Sterile Injectables		Generic Pharmaceuticals		International Pharmaceuticals		Total
Goodwill as of December 31, 2018	$	828,818	$	2,731,193	$	151,108	$	53,517	$	3,764,636

Effect of currency translation	—		—		—		2,456		2,456
Goodwill impairment charges	—		—		(151,108)		(20,800)		(171,908)
Goodwill as of December 31, 2019	$	828,818	$	2,731,193	$	—	$	35,173	$	3,595,184
Effect of currency translation	—		—		—		(2,387)		(2,387)
Goodwill impairment charges	—		—		—		(32,786)		(32,786)
Goodwill as of December 31, 2020	$	828,818	$	2,731,193	$	—	$	—	$	3,560,011

The carrying amounts of goodwill at December 31, 2020 and December 31, 2019 are net of the following accumulated impairments (in thousands):


	Branded Pharmaceuticals		Sterile Injectables		Generic Pharmaceuticals		International Pharmaceuticals		Total
Accumulated impairment losses as of December 31, 2019	$	855,810	$	—	$	3,142,657	$	500,417	$	4,498,884
Accumulated impairment losses as of December 31, 2020	$	855,810	$	—	$	3,142,657	$	546,251	$	4,544,718

Schedule of other intangible assets

Changes in the amount of other intangible assets for the year ended December 31, 2020 are set forth in the table below (in thousands).


Cost basis:	Balance as of December 31, 2019		Acquisitions		Impairments		Other (1)		Effect of Currency Translation		Balance as of December 31, 2020
Indefinite-lived intangibles:
In-process research and development	$	93,900	$	—	$	—	$	(90,900)	$	—	$	3,000
Total indefinite-lived intangibles	$	93,900	$	—	$	—	$	(90,900)	$	—	$	3,000
Finite-lived intangibles:
Licenses (weighted average life of 14 years)	$	457,402	$	—	$	(15,000)	$	(3,172)	$	—	$	439,230
Tradenames	6,409		—		—		—		—		6,409
Developed technology (weighted average life of 11 years)	5,844,439		673,796		(64,917)		(15,428)		4,844		6,442,734
Total finite-lived intangibles (weighted average life of 11 years)	$	6,308,250	$	673,796	$	(79,917)	$	(18,600)	$	4,844	$	6,888,373
Total other intangibles	$	6,402,150	$	673,796	$	(79,917)	$	(109,500)	$	4,844	$	6,891,373

Accumulated amortization:	Balance as of December 31, 2019		Amortization		Impairments		Other (1)		Effect of Currency Translation		Balance as of December 31, 2020
Finite-lived intangibles:
Licenses	$	(410,336)	$	(8,029)	$	—	$	3,172	$	—	$	(415,193)
Tradenames	(6,409)		—		—		—		—		(6,409)
Developed technology	(3,414,138)		(419,514)		—		108,328		(3,639)		(3,728,963)
Total other intangibles	$	(3,830,883)	$	(427,543)	$	—	$	111,500	$	(3,639)	$	(4,150,565)
Net other intangibles	$	2,571,267									$	2,740,808

__________

Schedule of future amortization expense

For intangible assets subject to amortization, estimated amortization expense for the five fiscal years subsequent to December 31, 2020 is as follows (in thousands):


2021	$	374,337
2022	$	359,645
2023	$	316,292
2024	$	280,213
2025	$	258,486

Schedule of intangible asset impairment charges including goodwill

During the years ended December 31, 2020, 2019 and 2018, the Company incurred the following goodwill and other intangible asset impairment charges (in thousands):



	2020		2019		2018
Goodwill impairment charges	$	32,786	$	171,908	$	680,000
Other intangible asset impairment charges	$	79,917	$	347,706	$	230,418

Contract Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]

Contract assets and liabilities

The following table shows the opening and closing balances of contract assets and contract liabilities from contracts with customers (dollars in thousands):


	December 31, 2020		December 31, 2019		$ Change		% Change
Contract assets, net (1)	$	13,525	$	—	$	13,525	NM
Contract liabilities, net (2)	$	6,028	$	6,592	$	(564)	(9)	%

__________

NM indicates that the percentage change is not meaningful or is greater than 100%.

Accounts Payable and Accrued Expenses (Tables)

12 Months Ended

Dec. 31, 2020

Accounts Payable and Accrued Liabilities, Current [Abstract]

Schedule of accounts payable and accrued liabilities

Accounts payable and accrued expenses include the following at December 31, 2020 and December 31, 2019 (in thousands):


	December 31, 2020		December 31, 2019
Trade accounts payable	$	94,408	$	101,532
Returns and allowances	207,916		206,248
Rebates	126,644		129,056
Chargebacks	2,177		1,594
Accrued interest	98,105		112,860
Accrued payroll and related benefits	130,092		79,869
Accrued royalties and other distribution partner payables	59,745		115,816
Acquisition-related contingent consideration—current	8,566		6,534
Other	108,287		146,440
Total	$	835,940	$	899,949

Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of long-term debt instruments

The following table presents information about the Company’s total indebtedness at December 31, 2020 and December 31, 2019 (dollars in thousands):


	December 31, 2020						December 31, 2019
	Effective Interest Rate		Principal Amount		Carrying Amount		Effective Interest Rate		Principal Amount		Carrying Amount
7.25% Senior Notes due 2022	7.25	%	$	8,294	$	8,294	7.25	%	$	8,294	$	8,294
5.75% Senior Notes due 2022	5.75	%	172,048		172,048		5.75	%	182,479		182,479
5.375% Senior Notes due 2023	5.62	%	6,127		6,098		5.62	%	210,440		209,018
6.00% Senior Notes due 2023	6.28	%	56,436		56,063		6.28	%	1,439,840		1,426,998
5.875% Senior Secured Notes due 2024	6.14	%	300,000		297,267		6.14	%	300,000		296,647
6.00% Senior Notes due 2025	6.27	%	21,578		21,366		6.27	%	1,200,000		1,185,726
7.50% Senior Secured Notes due 2027	7.70	%	2,015,479		1,995,142		7.71	%	1,500,000		1,482,212
9.50% Senior Secured Second Lien Notes due 2027	9.68	%	940,590		932,395				—		—
6.00% Senior Notes due 2028	6.11	%	1,260,416		1,251,725				—		—
Term Loan Facility	5.21	%	3,295,475		3,274,330		6.21	%	3,329,625		3,302,675
Revolving Credit Facility	2.69	%	300,000		300,000		4.25	%	300,000		300,000

Total long-term debt, net			$	8,376,443	$	8,314,728			$	8,470,678	$	8,394,049
Less current portion, net			34,150		34,150				34,150		34,150
Total long-term debt, less current portion, net			$	8,342,293	$	8,280,578			$	8,436,528	$	8,359,899

However, with certain exceptions set forth in the Credit Agreement, maturities under the Credit Facilities will be accelerated if any of the following of our senior notes are not refinanced or repaid in full at least 91 days prior to the respective maturity dates thereof:


Instrument						Maturity Date
7.25% Senior Notes due 2022						January 15, 2022
5.75% Senior Notes due 2022						January 15, 2022
5.375% Senior Notes due 2023						January 15, 2023
6.00% Senior Notes due 2023						July 15, 2023

Schedule of maturities of long-term debt

The following table presents, as of December 31, 2020, the maturities on our long-term debt for each of the five fiscal years subsequent to December 31, 2020 (in thousands):


	Maturities (1)
2021	$	34,150
2022 (2)	$	237,292
2023	$	96,713
2024 (2)	$	3,770,225
2025	$	21,578

__________

(2)Based on the Company’s borrowings under the Revolving Credit Facility that were outstanding at December 31, 2020, $22.8 million will mature in 2022, with the remainder maturing in 2024.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
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+ Details

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Changes in qualified settlement funds accounts and product liability balance

The following table presents the changes in the QSFs and mesh liability accrual balances during the year ended December 31, 2020 (in thousands):


	Qualified Settlement Funds		Mesh Liability Accrual
Balance as of December 31, 2019	$	242,842	$	454,031
Additional charges	—		43,093
Cash contributions to Qualified Settlement Funds	7,215		—
Cash distributions to settle disputes from Qualified Settlement Funds	(123,803)		(123,803)
Cash distributions to settle disputes	—		(44,471)
Other (1)	744		2,071
Balance as of December 31, 2020	$	126,998	$	330,921

__________

- Definition

Tabular disclosure of the loss contingencies that were reported in the period or disclosed as of the balance sheet date.

+ References

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+ Details

Shared-based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of allocation of stock-based compensation

Presented below are the components of total share-based compensation as recorded in our Consolidated Statements of Operations for the years ended December 31, 2020, 2019 and 2018 (in thousands).


	2020		2019		2018
Selling, general and administrative expenses	$	32,368	$	44,159	$	44,454
Research and development expenses	2,504		4,501		2,251
Cost of revenues	6,485		10,482		7,366

Total share-based compensation expense	$	41,357	$	59,142	$	54,071

Summary of activity under stock incentive plans

A summary of the activity for each of the years ended December 31, 2020, 2019 and 2018 is presented below:


	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value (1)
Outstanding as of December 31, 2017	8,248,130	$	22.79
Granted	971,590	$	7.55
Exercised	(94,392)	$	9.89
Forfeited	(605,737)	$	19.01
Expired	(446,873)	$	36.80
Outstanding as of December 31, 2018	8,072,718	$	20.62

Exercised	(557)	$	7.55
Forfeited	(125,739)	$	14.38
Expired	(665,883)	$	40.37
Outstanding as of December 31, 2019	7,280,539	$	18.93


Forfeited	(16,953)	$	11.81
Expired	(347,000)	$	35.56
Outstanding as of December 31, 2020	6,916,586	$	18.11	5.39	$	—
Vested and expected to vest as of December 31, 2020	6,912,211	$	18.11	5.39	$	—
Exercisable as of December 31, 2020	6,389,536	$	18.53	5.37	$	—

__________

Stock option assumption

The weighted average grant-date fair values of the stock options granted during the year ended December 31, 2018 was $3.97 per option, determined using the following weighted average assumptions:


	2018
Expected term (years)	4.0
Risk-free interest rate	2.7	%
Dividend yield	—
Expected volatility	63	%

Summary of restricted and performance stock units activity

A summary of our non-vested RSUs and PSUs for the years ended December 31, 2020, 2019 and 2018 is presented below:


	Number of Shares	Aggregate Intrinsic Value (1)
Non-vested as of December 31, 2017	4,724,673
Granted	5,609,561
LTCI modification (2)	2,989,965
Forfeited	(753,653)
Vested	(1,551,074)
Non-vested as of December 31, 2018	11,019,472
Granted	6,687,695

Forfeited	(918,425)
Vested	(3,872,453)
Non-vested as of December 31, 2019	12,916,289
Granted	3,761,648

Forfeited	(824,299)
Vested	(5,513,359)
Non-vested as of December 31, 2020	10,340,279	$	74,243,203
Vested and expected to vest as of December 31, 2020	9,702,411	$	69,663,311

__________

Other (Income) Expense, Net (Tables)

12 Months Ended

Dec. 31, 2020

Component of Operating Income [Abstract]

Schedule of components of other income, net

The components of Other (income) expense, net for the years ended December 31, 2020, 2019 and 2018 are as follows (in thousands):



	2020		2019		2018
Net gain on sale of business and other assets (1)	$	(16,353)	$	(6,367)	$	(45,155)
Foreign currency loss (gain), net (2)	2,466		5,247		(3,762)
Net (gain) loss from our investments in the equity of other companies (3)	(2,160)		2,346		3,444
Other miscellaneous, net (4)	(5,063)		15,451		(6,480)
Other (income) expense, net	$	(21,110)	$	16,677	$	(51,953)

__________

(2)Amounts relate to the remeasurement of the Company’s foreign currency denominated assets and liabilities.

(3)Amounts relate to the income statement impacts of our investments in the equity of other companies, including investments accounted for under the equity method.

(4)Amounts in 2019 primarily relate to $17.5 million of contract termination costs incurred as a result of certain product discontinuation activities in our International Pharmaceuticals segment.

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The components of our Loss from continuing operations before income tax by geography for the years ended December 31, 2020, 2019 and 2018 are as follows (in thousands):


	2020		2019		2018
U.S.	$	(375,262)	$	(688,224)	$	(1,342,860)
International	348,744		343,320		404,028
Total loss from continuing operations before income tax	$	(26,518)	$	(344,904)	$	(938,832)

Schedule of Components of Income Tax Expense (Benefit)

Income tax from continuing operations consists of the following for the years ended December 31, 2020, 2019 and 2018 (in thousands):


	2020		2019		2018
Current:
U.S. Federal	$	(108,866)	$	15,317	$	6,236
U.S. State	(434)		(3,002)		2,864
International	(1,124)		8,926		8,278
Total current income tax	$	(110,424)	$	21,241	$	17,378
Deferred:
U.S. Federal	$	(143,411)	$	(515)	$	10,084
U.S. State	(11,773)		(482)		(778)
International	(8,374)		(4,564)		(3,749)
Total deferred income tax	$	(163,558)	$	(5,561)	$	5,557


Total income tax	$	(273,982)	$	15,680	$	22,935

Schedule of Effective Income Tax Rate Reconciliation


	2020		2019		2018
Notional U.S. federal income tax provision at the statutory rate	$	(5,569)	$	(72,430)	$	(197,155)
State income tax, net of federal benefit	(17,311)		(4,455)		494
U.S. tax reform impact	(129,599)		—		5,664
Uncertain tax positions	35,941		43,273		46,317
Residual tax on non-U.S. net earnings	(83,550)		(67,987)		(638,724)


Non-deductible goodwill impairment	7,490		27,493		109,189
Change in valuation allowance	(97,752)		30,123		748,562
Intra-entity transfers of assets	—		—		(63,335)










Base erosion minimum tax	77,438		13,662		—
Non-deductible expenses	8,875		21,299		3,446
Executive compensation limitation	5,857		4,547		5,955
Equity based compensation	6,495		6,014		4,118
Financing activities	(33,217)		—		—
Investment activities	(44,964)		—		—
Other	(4,116)		14,141		(1,596)
Income tax	$	(273,982)	$	15,680	$	22,935

Schedule of Deferred Tax Assets and Liabilities


	December 31, 2020		December 31, 2019
Deferred tax assets:
Accrued expenses and customer allowances	$	109,595	$	112,489

Deferred interest expense	281,608		317,997
Fixed assets and intangible assets	487,378		598,730
Loss on capital assets	66,159		61,971
Net operating loss carryforward	9,659,130		9,743,763
Other	91,895		89,501
Research and development and other tax credit carryforwards	15,176		16,620


Total gross deferred income tax assets	$	10,710,941	$	10,941,071
Deferred tax liabilities:

Other	$	(9,469)	$	(10,086)

Intercompany notes	(1,057,158)		(1,131,537)

Total gross deferred income tax liabilities	$	(1,066,627)	$	(1,141,623)
Valuation allowance	(9,668,556)		(9,828,959)
Net deferred income tax liability	$	(24,242)	$	(29,511)

Summary of Tax Credit Carryforwards


Jurisdiction	Amount		Begin to Expire
Ireland	$	38,607	Indefinite
Luxembourg	$	9,381,910	2034


U.S.:
Federal-ordinary losses	$	41,049	2036
Federal-capital losses	$	42,620	2022
Federal-tax credits	$	5,274	2036
State-ordinary losses	$	248,148	2021
State-capital losses	$	29,292	2022
State-tax credits	$	8,408	2021

Summary of Valuation Allowance

As of December 31, 2020, the Company had the following significant valuation allowances (in thousands):


Jurisdiction	December 31, 2020

Ireland	$	218,934
Luxembourg	$	8,324,752



U.S.	$	1,121,094

Summary of Income Tax Examinations

As of December 31, 2020, we may be subject to examination in the following major tax jurisdictions:


Jurisdiction						Open Years
Canada						2013 through 2020
India						2012 through 2020
Ireland						2014 through 2020
Luxembourg						2014 through 2020
U.S. - federal, state and local						2006 through 2020

Schedule of Unrecognized Tax Benefits Roll Forward

The following table summarizes the activity related to UTBs during the years ended December 31, 2020, 2019 and 2018 (in thousands):


	Unrecognized Tax Benefit Federal, State, and Foreign Tax
UTB Balance at December 31, 2017	$	415,951
Gross additions for current year positions	36,088

Gross reductions for prior period positions	(3,570)
Gross additions for prior period positions	7,950
Decrease due to lapse of statute of limitations	(2,129)

Currency translation adjustment	(2,600)
UTB Balance at December 31, 2018	$	451,690
Gross additions for current year positions	35,766
Gross reductions for prior period positions	(2,377)
Gross additions for prior period positions	880
Decrease due to lapse of statute of limitations	(1,006)


Currency translation adjustment	1,528
UTB Balance at December 31, 2019	$	486,481
Gross additions for current year positions	33,402
Gross reductions for prior period positions	(577)
Gross additions for prior period positions	16,914
Decrease due to lapse of statute of limitations	(7,033)

Currency translation adjustment	588
UTB Balance at December 31, 2020	$	529,775
Accrued interest and penalties	47,006
Total UTB balance including accrued interest and penalties	$	576,781

Net Income (Loss) Per Share (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Reconciliation of the numerator and denominator of basic and diluted net loss per share

The following is a reconciliation of the numerator and denominator of basic and diluted net income (loss) per share for the years ended December 31, 2020, 2019 and 2018 (in thousands):



	2020		2019		2018
Numerator:
Income (loss) from continuing operations	$	247,464	$	(360,584)	$	(961,767)


Loss from discontinued operations, net of tax	(63,520)		(62,052)		(69,702)
Net income (loss)	$	183,944	$	(422,636)	$	(1,031,469)
Denominator:
For basic per share data—weighted average shares	229,314		226,050		223,960
Dilutive effect of ordinary share equivalents	4,339		—		—

For diluted per share data—weighted average shares	233,653		226,050		223,960

Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Data [Abstract]

Schedule of Quarterly Financial Information


	Quarter Ended
	March 31,		June 30,		September 30,		December 31,
2020 (1)
Total revenues	$	820,405	$	687,588	$	634,860	$	760,221
Gross profit	$	431,606	$	351,492	$	286,783	$	390,682
Income (loss) from continuing operations	$	157,581	$	17,610	$	(68,974)	$	141,247
Discontinued operations, net of tax	$	(27,651)	$	(7,052)	$	(6,913)	$	(21,904)
Net income (loss)	$	129,930	$	10,558	$	(75,887)	$	119,343
Net income (loss) per share—Basic:
Continuing operations	$	0.69	$	0.08	$	(0.30)	$	0.61
Discontinued operations	(0.12)		(0.03)		(0.03)		(0.09)
Basic	$	0.57	$	0.05	$	(0.33)	$	0.52
Net income (loss) per share—Diluted:
Continuing operations	$	0.68	$	0.08	$	(0.30)	$	0.60
Discontinued operations	(0.12)		(0.03)		(0.03)		(0.09)
Diluted	$	0.56	$	0.05	$	(0.33)	$	0.51
Weighted average shares—Basic	227,198		229,716		230,040		230,301
Weighted average shares—Diluted	233,014		233,681		230,040		234,474
2019 (2)
Total revenues	$	720,411	$	699,727	$	729,426	$	764,800
Gross profit	$	328,502	$	311,519	$	340,261	$	364,744
Loss from continuing operations	$	(12,612)	$	(98,052)	$	(41,431)	$	(208,489)
Discontinued operations, net of tax	$	(5,961)	$	(7,953)	$	(37,984)	$	(10,154)
Net loss	$	(18,573)	$	(106,005)	$	(79,415)	$	(218,643)
Net loss per share—Basic:
Continuing operations	$	(0.06)	$	(0.43)	$	(0.18)	$	(0.92)
Discontinued operations	(0.02)		(0.04)		(0.17)		(0.04)
Basic	$	(0.08)	$	(0.47)	$	(0.35)	$	(0.96)
Net loss per share—Diluted:
Continuing operations	$	(0.06)	$	(0.43)	$	(0.18)	$	(0.92)
Discontinued operations	(0.02)		(0.04)		(0.17)		(0.04)
Diluted	$	(0.08)	$	(0.47)	$	(0.35)	$	(0.96)
Weighted average shares—Basic	224,594		226,221		226,598		226,787
Weighted average shares—Diluted	224,594		226,221		226,598		226,787

__________

Summary of Significant Accounting Policies - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($) customer	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Product Information [Line Items]
Allowances for sales returns and allowances	$ 605.6	$ 660.3
Advertising expense	$ 76.0	$ 63.1	$ 49.6
Credit Concentration Risk \| Trade Accounts Receivable
Product Information [Line Items]
Concentration risk, percentage	90.00%	88.00%
Number of customers \| customer	3
Vasostrict® \| Product Concentration Risk \| Revenue from Contract with Customer Benchmark
Product Information [Line Items]
Concentration risk, percentage	27.00%	18.00%	15.00%
XIAFLEX® \| Product Concentration Risk \| Revenue from Contract with Customer Benchmark
Product Information [Line Items]
Concentration risk, percentage	11.00%	11.00%
Minimum
Product Information [Line Items]
Revenue from contract with customer, return period	6 months
Weighted average
Product Information [Line Items]
Intangible life (years)	11 years
Developed technology \| Minimum
Product Information [Line Items]
Intangible life (years)	4 years
Developed technology \| Maximum
Product Information [Line Items]
Intangible life (years)	20 years
Developed technology \| Weighted average
Product Information [Line Items]
Intangible life (years)	11 years
Licensing \| Minimum
Product Information [Line Items]
Intangible life (years)	12 years
Licensing \| Maximum
Product Information [Line Items]
Intangible life (years)	15 years
Licensing \| Weighted average
Product Information [Line Items]
Intangible life (years)	14 years

Summary of Significant Accounting Policies - Customer Concentration Risk (Details) - Customer Concentration Risk - Revenue from Contract with Customer Benchmark	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
AmerisourceBergen Corporation
Product Information [Line Items]
Concentration risk, percentage	33.00%	34.00%	32.00%
McKesson Corporation
Product Information [Line Items]
Concentration risk, percentage	27.00%	26.00%	27.00%
Cardinal Health, Inc.
Product Information [Line Items]
Concentration risk, percentage	24.00%	25.00%	26.00%

Summary of Significant Accounting Policies - Estimated Useful Lives (Details)	12 Months Ended
	Dec. 31, 2020
Building \| Minimum
Property, Plant and Equipment [Line Items]
Useful life	1 year
Building \| Maximum
Property, Plant and Equipment [Line Items]
Useful life	30 years
Machinery and equipment
Property, Plant and Equipment [Line Items]
Useful life	15 years
Computer equipment and software
Property, Plant and Equipment [Line Items]
Useful life	10 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Useful life	10 years

Discontinued Operations - Astora - Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss from discontinued operations, net of tax	$ (21,904)	$ (6,913)	$ (7,052)	$ (27,651)	$ (10,154)	$ (37,984)	$ (7,953)	$ (5,961)	$ (63,520)	$ (62,052)	$ (69,702)
Discontinued operations, disposed of by means other than sale, abandonment \| Astora
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Litigation-related and other contingencies, net									41,097	30,400	34,000
Loss from discontinued operations before income taxes									(67,847)	(62,052)	(69,702)
Income tax benefit									(4,327)	0	0
Loss from discontinued operations, net of tax									$ (63,520)	$ (62,052)	$ (69,702)

- Definition

Amount before tax of income (loss) from a discontinued operation. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal.

+ References + Details

- Definition

Amount of tax expense (benefit) related to a discontinued operation. Includes, but is not limited to, tax expense (benefit) related to income (loss) from operations during the phase-out period, tax expense (benefit) related to gain (loss) on disposal, tax expense (benefit) related to gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and tax expense (benefit) related to adjustments of a prior period gain (loss) on disposal.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.7)
-URI http://asc.fasb.org/extlink&oid=116825942&loc=d3e330036-122817

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5C
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721675-107760

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
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-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721673-107760

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32672-109319

+ Details

- Definition

Amount after tax of income (loss) from a discontinued operation attributable to the parent. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal.

+ References + Details

Discontinued Operations - Astora (Narrative) (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restructuring Cost and Reserve [Line Items]
Loss from discontinued operations, net of tax	$ (21,904,000)	$ (6,913,000)	$ (7,052,000)	$ (27,651,000)	$ (10,154,000)	$ (37,984,000)	$ (7,953,000)	$ (5,961,000)	$ (63,520,000)	$ (62,052,000)	$ (69,702,000)
Discontinued operations, disposed of by means other than sale, abandonment \| Astora
Restructuring Cost and Reserve [Line Items]
Loss from discontinued operations, net of tax									(63,520,000)	(62,052,000)	$ (69,702,000)
Cash used in investing activities									0	0
Depreciation and amortization									$ 0	$ 0

- Definition

+ References + Details

Restructuring - 2017 Restructuring Initiatives (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended									12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Dec. 31, 2018
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 25.9	$ 67.7	$ 9.4	$ 23.2	$ 19.4	$ 11.0	$ 2.1	$ 2.0
2017 US generic pharmaceuticals restructuring \| Generic Pharmaceuticals
Restructuring Cost and Reserve [Line Items]
Restructuring charges										$ 61.6
2017 US generic pharmaceuticals restructuring \| Accelerated depreciation
Restructuring Cost and Reserve [Line Items]
Restructuring charges										35.2
2017 US generic pharmaceuticals restructuring \| Employee separation, retention and other benefit-related costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges										9.1
2017 US generic pharmaceuticals restructuring \| Asset impairment charges
Restructuring Cost and Reserve [Line Items]
Restructuring charges										2.6
2017 US generic pharmaceuticals restructuring \| Certain other charges
Restructuring Cost and Reserve [Line Items]
Restructuring charges										$ 14.7
Huntsville, Alabama manufacturing and distributing facility \| Disposal group, disposed of by sale, not discontinued operations \| 2017 US generic pharmaceuticals restructuring \| Facility closing
Restructuring Cost and Reserve [Line Items]
Proceeds from sale of property, plant and equipment									$ 23.1
Net gain on disposal									$ 12.5

Restructuring - Schedule of Restructuring Roll Forward for 2017 Generic Pharmaceuticals Initiative (Details) - 2017 US generic pharmaceuticals restructuring $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)
Restructuring Reserve [Roll Forward]
Beginning liability balance	$ 4,287
Cash payments	(4,287)
Ending liability balance	0
Employee separation, retention and other benefit-related costs
Restructuring Reserve [Roll Forward]
Beginning liability balance	4,239
Cash payments	(4,239)
Ending liability balance	0
Certain other restructuring costs
Restructuring Reserve [Roll Forward]
Beginning liability balance	48
Cash payments	(48)
Ending liability balance	$ 0

Restructuring - January 2018 Restructuring Initiative (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 25.9	$ 67.7	$ 9.4	$ 23.2	$ 19.4	$ 11.0	$ 2.1	$ 2.0
Employee separation, retention, and other benefit related costs \| January 2018 restructuring initiative
Restructuring Cost and Reserve [Line Items]
Restructuring charges									$ 21.7
Certain other charges \| January 2018 restructuring initiative
Restructuring Cost and Reserve [Line Items]
Restructuring charges									1.8
Generic Pharmaceuticals \| January 2018 restructuring initiative
Restructuring Cost and Reserve [Line Items]
Restructuring charges									23.5
Operating segments \| Generic Pharmaceuticals \| January 2018 restructuring initiative
Restructuring Cost and Reserve [Line Items]
Restructuring charges									10.6
Operating segments \| Sterile Injectables \| January 2018 restructuring initiative
Restructuring Cost and Reserve [Line Items]
Restructuring charges									3.9
Operating segments \| International Pharmaceuticals \| January 2018 restructuring initiative
Restructuring Cost and Reserve [Line Items]
Restructuring charges									3.1
Operating segments \| Branded Pharmaceuticals \| January 2018 restructuring initiative
Restructuring Cost and Reserve [Line Items]
Restructuring charges									0.7
Corporate unallocated costs \| January 2018 restructuring initiative
Restructuring Cost and Reserve [Line Items]
Restructuring charges									$ 5.2

Restructuring - 2020 Restructuring Initiative (Narrative) (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020 USD ($)	Sep. 30, 2020 USD ($)	Jun. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Sep. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2020 USD ($) position	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 25,900	$ 67,700	$ 9,400	$ 23,200	$ 19,400	$ 11,000	$ 2,100	$ 2,000
Accelerated depreciation charges									$ 22,500		$ 35,200
Asset impairment charges	14,100	$ 8,400		$ 97,800	$ 267,400	$ 4,800	$ 88,400	$ 165,400	$ 120,344	$ 526,082	916,939
2020 Restructuring Initiative
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected number of positions eliminated \| position									560
Restructuring charges									$ 93,636
Accelerated depreciation charges									22,459
Asset impairment charges									7,391
Restructuring reserve, current	36,400								36,400
Cost of revenues \| 2020 Restructuring Initiative
Restructuring Cost and Reserve [Line Items]
Restructuring charges									53,297
Selling, general and administrative \| 2020 Restructuring Initiative
Restructuring Cost and Reserve [Line Items]
Restructuring charges									27,857
Minimum \| 2020 Restructuring Initiative
Restructuring Cost and Reserve [Line Items]
Restructuring and related costs, expected cost savings	85,000								85,000
Restructuring charges									163,000
Accelerated depreciation charges									56,000
Employee separation, continuity and other benefit-related costs									85,000
Payments for restructuring									100,000
Minimum \| Cost of revenues \| 2020 Restructuring Initiative
Restructuring Cost and Reserve [Line Items]
Restructuring and related costs, expected cost savings	65,000								65,000
Minimum \| Selling, general and administrative \| 2020 Restructuring Initiative
Restructuring Cost and Reserve [Line Items]
Restructuring and related costs, expected cost savings	20,000								20,000
Maximum \| 2020 Restructuring Initiative
Restructuring Cost and Reserve [Line Items]
Restructuring and related costs, expected cost savings	95,000								95,000
Restructuring charges									183,000
Accelerated depreciation charges									66,000
Employee separation, continuity and other benefit-related costs									90,000
Payments for restructuring									110,000
Maximum \| Cost of revenues \| 2020 Restructuring Initiative
Restructuring Cost and Reserve [Line Items]
Restructuring and related costs, expected cost savings	70,000								70,000
Maximum \| Selling, general and administrative \| 2020 Restructuring Initiative
Restructuring Cost and Reserve [Line Items]
Restructuring and related costs, expected cost savings	25,000								25,000
Certain other restructuring costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges									16,900	$ 11,000	16,500
Certain other restructuring costs \| 2020 Restructuring Initiative
Restructuring Cost and Reserve [Line Items]
Restructuring charges									664
Payments for restructuring									0
Restructuring and related cost, cost incurred to date	700								700
Certain other restructuring costs \| Minimum \| 2020 Restructuring Initiative
Restructuring Cost and Reserve [Line Items]
Restructuring charges									15,000
Certain other restructuring costs \| Maximum \| 2020 Restructuring Initiative
Restructuring Cost and Reserve [Line Items]
Restructuring charges									20,000
Accelerated depreciation charges \| 2020 Restructuring Initiative
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, cost incurred to date	22,500								22,500
Asset impairment charges \| 2020 Restructuring Initiative
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, cost incurred to date	7,400								7,400
Increase in excess inventory reserves
Restructuring Cost and Reserve [Line Items]
Restructuring charges											$ 2,900
Increase in excess inventory reserves \| 2020 Restructuring Initiative
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, cost incurred to date	3,100								3,100
Employee separation, continuity and other benefit-related costs \| 2020 Restructuring Initiative
Restructuring Cost and Reserve [Line Items]
Restructuring charges									60,025
Payments for restructuring									1,687
Restructuring and related cost, cost incurred to date	60,000								60,000
Generic Pharmaceuticals \| 2020 Restructuring Initiative
Restructuring Cost and Reserve [Line Items]
Restructuring charges									79,000
Restructuring and related cost, cost incurred to date	$ 79,000								79,000
Operating segments \| Generic Pharmaceuticals \| Minimum \| 2020 Restructuring Initiative
Restructuring Cost and Reserve [Line Items]
Restructuring charges									135,000
Operating segments \| Generic Pharmaceuticals \| Maximum \| 2020 Restructuring Initiative
Restructuring Cost and Reserve [Line Items]
Restructuring charges									$ 150,000

Restructuring - Pre-tax Net Charges Related to November 2020 Restructuring Initiative (Details) - USD ($) $ in Thousands	3 Months Ended							12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restructuring Cost and Reserve [Line Items]
Accelerated depreciation charges								$ 22,500		$ 35,200
Asset impairment charges	$ 14,100	$ 8,400	$ 97,800	$ 267,400	$ 4,800	$ 88,400	$ 165,400	120,344	$ 526,082	$ 916,939
2020 Restructuring Initiative
Restructuring Cost and Reserve [Line Items]
Accelerated depreciation charges								22,459
Asset impairment charges								7,391
Charges to increase excess inventory reserves								3,097
Employee separation, continuity and other benefit-related costs								60,025
Certain other restructuring costs								664
Restructuring costs and asset impairment charges								$ 93,636

Restructuring - Pre-tax Net Charges Included in the Condensed Consolidated Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 25,900	$ 67,700	$ 9,400	$ 23,200	$ 19,400	$ 11,000	$ 2,100	$ 2,000
2020 Restructuring Initiative
Restructuring Cost and Reserve [Line Items]
Restructuring charges									$ 93,636
Cost of revenues \| 2020 Restructuring Initiative
Restructuring Cost and Reserve [Line Items]
Restructuring charges									53,297
Selling, general and administrative \| 2020 Restructuring Initiative
Restructuring Cost and Reserve [Line Items]
Restructuring charges									27,857
Research and development \| 2020 Restructuring Initiative
Restructuring Cost and Reserve [Line Items]
Restructuring charges									5,091
Asset impairment charges \| 2020 Restructuring Initiative
Restructuring Cost and Reserve [Line Items]
Restructuring charges									$ 7,391

Restructuring - Changes to the Liability for November 2020 Restructuring Initiative (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restructuring Reserve [Roll Forward]
Restructuring charges	$ 25,900	$ 67,700	$ 9,400	$ 23,200	$ 19,400	$ 11,000	$ 2,100	$ 2,000
2020 Restructuring Initiative
Restructuring Reserve [Roll Forward]
Restructuring charges									$ 93,636
Employee separation, continuity and other benefit-related costs \| 2020 Restructuring Initiative
Restructuring Reserve [Roll Forward]
Beginning liability balance				0					0
Restructuring charges									60,025
Cash payments									(1,687)
Ending liability balance	58,338				0				58,338	$ 0
Certain other restructuring costs
Restructuring Reserve [Roll Forward]
Restructuring charges									16,900	11,000	$ 16,500
Certain other restructuring costs \| 2020 Restructuring Initiative
Restructuring Reserve [Roll Forward]
Beginning liability balance				0					0
Restructuring charges									664
Cash payments									0
Ending liability balance	664				0				664	0
Employee separation, continuity and other benefit-related costs and certain other restructuring costs \| 2020 Restructuring Initiative
Restructuring Reserve [Roll Forward]
Beginning liability balance				$ 0					0
Restructuring charges									60,689
Cash payments									(1,687)
Ending liability balance	$ 59,002				$ 0				$ 59,002	$ 0

Acquisitions (BioSpecifics Technologies Corp.) (Narrative) (Details) - Merger Agreement - $ / shares		12 Months Ended
	Dec. 01, 2020	Dec. 31, 2020	Oct. 19, 2020
Schedule of Asset Acquisition [Line Items]
Price per share of BioSpecifics Technologies Corp acquired (in dollars per shares)			$ 88.50
Number of shares issued as a part of asset acquisition (in shares)	6,159,975
XIAFLEX and QWO
Schedule of Asset Acquisition [Line Items]
Intangible life (years)		13 years 7 months 6 days

Acquisitions (Costs Accumulated to Acquire BioSpecifics) (Details) - Merger Agreement - USD ($) $ in Thousands	Dec. 02, 2020	Dec. 01, 2020
Schedule of Asset Acquisition [Line Items]
Base purchase price	$ 650,029
Vested employee options and benefits	10,280
Transaction costs	10,268
Less: royalty obligations discharged	(14,909)
Total acquisition consideration	$ 655,668
Number of shares issued as a part of asset acquisition (in shares)		6,159,975
Business acquisition, equity interest canceled, not tendered (in shares)		1,184,980

Acquisitions (Schedule of Fair Values of The Assets Acquired and Liabilities Assumed at the Acquisition Date) (Details) - USD ($) $ in Thousands		12 Months Ended
	Dec. 02, 2020	Dec. 31, 2020
Schedule of Asset Acquisition [Line Items]
Intangible assets—developed technology		$ 673,796
Intangible assets—in-process research and development		$ 0
Merger Agreement
Schedule of Asset Acquisition [Line Items]
Cash and cash equivalents	$ 21,073
Investments	89,050
Intangible assets—developed technology	673,796
Intangible assets—in-process research and development	28,602
Other acquired assets	3,089
Deferred tax liability	(156,441)
Other assumed liabilities	(3,501)
Net identifiable assets acquired	$ 655,668

Acquisitions (Summary of Changes to Existing and New Intangible Assets Related to BioSpecifics Acquisitions) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 03, 2020	Dec. 02, 2020	Dec. 01, 2020	Dec. 31, 2019
Schedule of Asset Acquisition [Line Items]
Gross Carrying Amount	$ 6,888,373				$ 6,308,250
Accumulated Amortization	$ (4,150,565)				$ (3,830,883)
Merger Agreement
Schedule of Asset Acquisition [Line Items]
Gross Carrying Amount		$ 2,254,396	$ 673,796	$ 1,580,600
Accumulated Amortization		(725,123)	0	(725,123)
Net Book Amount		$ 1,529,273	$ 673,796	$ 855,477

Segment Results - Schedule of Reportable Segments Information (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020 USD ($)	Sep. 30, 2020 USD ($)	Jun. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Sep. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2020 USD ($) segment	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| segment									4
Total net revenues from external customers	$ 760,221	$ 634,860	$ 687,588	$ 820,405	$ 764,800	$ 729,426	$ 699,727	$ 720,411	$ 2,903,074	$ 2,914,364	$ 2,947,078
Total segment adjusted income from continuing operations before income tax									1,455,871	1,411,950	1,484,892
Branded Pharmaceuticals
Segment Reporting Information [Line Items]
Certain legal costs										64,000	43,800
Total net revenues from external customers									781,780	855,402	862,832
Total segment adjusted income from continuing operations before income tax									377,526	426,677	412,543
Sterile Injectables
Segment Reporting Information [Line Items]
Total net revenues from external customers									1,238,847	1,063,131	929,566
Total segment adjusted income from continuing operations before income tax									950,145	780,799	695,363
Generic Pharmaceuticals
Segment Reporting Information [Line Items]
Certain legal costs										1,300
Total net revenues from external customers									783,110	879,882	1,012,215
Total segment adjusted income from continuing operations before income tax									87,178	159,716	317,892
International Pharmaceuticals
Segment Reporting Information [Line Items]
Total net revenues from external customers									99,337	115,949	142,465
Total segment adjusted income from continuing operations before income tax									$ 41,022	$ 44,758	$ 59,094

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
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-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 280
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Segment Results - Schedule of Reconciliations of Consolidated Adjusted Income (Loss) Before Income Tax (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Total consolidated loss from continuing operations before income tax									$ (26,518)	$ (344,904)	$ (938,832)
Amortization of intangible assets									427,543	543,900	622,300
Inventory step-up									0	0	261
Asset impairment charges	$ 14,100	$ 8,400		$ 97,800	$ 267,400	$ 4,800	$ 88,400	$ 165,400	120,344	526,082	916,939
Acquisition-related costs									16,549	(46,098)	21,914
Gain on extinguishment of debt								119,800	0	(119,828)	0
Total segment adjusted income from continuing operations before income tax									1,455,871	1,411,950	1,484,892
Asset acquisition, intangible asset expense									28,600
Restructuring charges	$ 25,900	$ 67,700	$ 9,400	$ 23,200	$ 19,400	$ 11,000	$ 2,100	$ 2,000
Upfront payment related to development, license and commercialization agreement											35,000
Accelerated depreciation charges									22,500		35,200
Payments of debt restructuring costs									31,100
Other nonrecurring (income) expense, expired insurance premium										14,100
International Pharmaceuticals
Segment Reporting Information [Line Items]
Total segment adjusted income from continuing operations before income tax									41,022	44,758	59,094
Employee severance
Segment Reporting Information [Line Items]
Restructuring charges									86,900	23,600	31,700
Other restructuring charges
Segment Reporting Information [Line Items]
Restructuring charges									16,900	11,000	16,500
Increase in excess inventory reserves
Segment Reporting Information [Line Items]
Restructuring charges											2,900
Contract termination
Segment Reporting Information [Line Items]
Restructuring charges										17,500
Contract termination \| International Pharmaceuticals
Segment Reporting Information [Line Items]
Restructuring charges										17,500
Premium on an expiring insurance program
Segment Reporting Information [Line Items]
Restructuring charges										14,100
Segment reconciling items
Segment Reporting Information [Line Items]
Interest expense, net									532,939	538,734	521,656
Corporate unallocated costs									157,723	168,136	200,592
Amortization of intangible assets									427,543	543,862	622,339
Inventory step-up									0	0	261
Upfront and milestone payments to partners									35,075	6,623	45,108
Continuity and separation benefits and other cost reduction initiatives									126,282	34,598	86,295
Certain litigation-related and other contingencies, net									(19,049)	11,211	13,809
Certain legal costs									67,819	65,282	43,753
Asset impairment charges									120,344	526,082	916,939
Acquisition-related costs									16,549	(46,098)	21,914
Gain on extinguishment of debt									0	(119,828)	0
Foreign currency impact related to the remeasurement of intercompany debt instruments									1,919	4,362	(5,486)
Other, net									15,245	23,890	(43,456)
Operating segments
Segment Reporting Information [Line Items]
Total segment adjusted income from continuing operations before income tax									$ 1,455,871	$ 1,411,950	$ 1,484,892

Segment Results - Schedule of Disaggregation of Revenues (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
TOTAL REVENUES, NET	$ 760,221,000	$ 634,860,000	$ 687,588,000	$ 820,405,000	$ 764,800,000	$ 729,426,000	$ 699,727,000	$ 720,411,000	$ 2,903,074,000	$ 2,914,364,000	$ 2,947,078,000
Product line revenue reporting threshold	$ 25,000,000	$ 25,000,000	$ 25,000,000	$ 25,000,000	$ 25,000,000	$ 25,000,000	$ 25,000,000	$ 25,000,000	$ 100,000,000	$ 100,000,000	$ 100,000,000
XIAFLEX® \| Revenue from Contract with Customer Benchmark \| Product Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk, percentage									11.00%	11.00%
Vasostrict® \| Revenue from Contract with Customer Benchmark \| Product Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk, percentage									27.00%	18.00%	15.00%
Branded Pharmaceuticals
Disaggregation of Revenue [Line Items]
TOTAL REVENUES, NET									$ 781,780,000	$ 855,402,000	$ 862,832,000
Branded Pharmaceuticals \| Specialty Products
Disaggregation of Revenue [Line Items]
TOTAL REVENUES, NET									497,078,000	519,676,000	444,575,000
Branded Pharmaceuticals \| XIAFLEX®
Disaggregation of Revenue [Line Items]
TOTAL REVENUES, NET									316,234,000	327,638,000	264,638,000
Branded Pharmaceuticals \| SUPPRELIN® LA
Disaggregation of Revenue [Line Items]
TOTAL REVENUES, NET									88,182,000	86,797,000	81,707,000
Branded Pharmaceuticals \| Other Specialty
Disaggregation of Revenue [Line Items]
TOTAL REVENUES, NET									92,662,000	105,241,000	98,230,000
Branded Pharmaceuticals \| Established Products
Disaggregation of Revenue [Line Items]
TOTAL REVENUES, NET									284,702,000	335,726,000	418,257,000
Branded Pharmaceuticals \| PERCOCET®
Disaggregation of Revenue [Line Items]
TOTAL REVENUES, NET									110,112,000	116,012,000	122,901,000
Branded Pharmaceuticals \| TESTOPEL®
Disaggregation of Revenue [Line Items]
TOTAL REVENUES, NET									35,234,000	55,244,000	58,377,000
Branded Pharmaceuticals \| Other Established
Disaggregation of Revenue [Line Items]
TOTAL REVENUES, NET									139,356,000	164,470,000	236,979,000
Sterile Injectables
Disaggregation of Revenue [Line Items]
TOTAL REVENUES, NET									1,238,847,000	1,063,131,000	929,566,000
Sterile Injectables \| Vasostrict®
Disaggregation of Revenue [Line Items]
TOTAL REVENUES, NET									785,646,000	531,737,000	453,767,000
Sterile Injectables \| ADRENALIN®
Disaggregation of Revenue [Line Items]
TOTAL REVENUES, NET									152,074,000	179,295,000	143,489,000
Sterile Injectables \| Ertapenem for injection
Disaggregation of Revenue [Line Items]
TOTAL REVENUES, NET									65,607,000	104,679,000	57,668,000
Sterile Injectables \| APLISOL®
Disaggregation of Revenue [Line Items]
TOTAL REVENUES, NET									36,220,000	61,826,000	64,913,000
Sterile Injectables \| Other Sterile Injectables
Disaggregation of Revenue [Line Items]
TOTAL REVENUES, NET									199,300,000	185,594,000	209,729,000
Generic Pharmaceuticals
Disaggregation of Revenue [Line Items]
TOTAL REVENUES, NET									783,110,000	$ 879,882,000	1,012,215,000
Generic Pharmaceuticals \| Colchicine Tablets \| Revenue from Contract with Customer Benchmark \| Product Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk, percentage										6.00%
International Pharmaceuticals
Disaggregation of Revenue [Line Items]
TOTAL REVENUES, NET									$ 99,337,000	$ 115,949,000	$ 142,465,000
International Pharmaceuticals \| Revenue from Contract with Customer Benchmark \| Product Concentration Risk \| Maximum
Disaggregation of Revenue [Line Items]
Concentration risk, percentage									5.00%	5.00%	5.00%

Segment Results - Schedule of Depreciation Expense for Reportable Segments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Depreciation expense	$ 91,264	$ 69,000	$ 101,368
Operating segments \| Branded Pharmaceuticals
Segment Reporting Information [Line Items]
Depreciation expense	11,758	12,573	14,542
Operating segments \| Sterile Injectables
Segment Reporting Information [Line Items]
Depreciation expense	17,400	14,287	10,500
Operating segments \| Generic Pharmaceuticals
Segment Reporting Information [Line Items]
Depreciation expense	52,614	32,689	66,016
Operating segments \| International Pharmaceuticals
Segment Reporting Information [Line Items]
Depreciation expense	4,530	4,234	4,925
Corporate unallocated
Segment Reporting Information [Line Items]
Depreciation expense	$ 4,962	$ 5,217	$ 5,385

Fair Value Measurements - Restricted Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash and cash equivalents, current	$ 171,563	$ 247,457
Restricted cash and cash equivalents, noncurrent	0	18,400
Restricted cash and cash equivalents	171,563	265,857
Restricted Cash and Cash Equivalents, Insurance Coverage
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash and cash equivalents	25,000
Vaginal mesh cases
Restricted Cash and Cash Equivalents Items [Line Items]
Settlement funds	$ 126,998	$ 242,842

Fair Value Measurements - (Narrative) (Details) $ in Millions	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Discount rate \| Minimum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Discount rate applied	0.100
Discount rate \| Maximum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Discount rate applied	0.150
Discount rate \| Weighted average
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Discount rate applied	0.118
Money market funds \| Restricted cash and cash equivalents
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Settlement funds	$ 26.5	$ 70.2

Fair Value Measurements - Financial Assets And Liabilities Measured At Fair Value On Recurring Basis (Details) - Fair value, measurements, recurring - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Acquisition-related contingent consideration—current
Liabilities:
Fair value of financial liabilities measured on recurring basis	$ 8,566	$ 6,534
Acquisition-related contingent consideration—noncurrent
Liabilities:
Fair value of financial liabilities measured on recurring basis	27,683	23,123
Money market funds
Assets:
Fair value of financial assets measured on recurring basis	214,120	427,033
Level 1 Inputs \| Acquisition-related contingent consideration—current
Liabilities:
Fair value of financial liabilities measured on recurring basis	0	0
Level 1 Inputs \| Acquisition-related contingent consideration—noncurrent
Liabilities:
Fair value of financial liabilities measured on recurring basis	0	0
Level 1 Inputs \| Money market funds
Assets:
Fair value of financial assets measured on recurring basis	214,120	427,033
Level 2 Inputs \| Acquisition-related contingent consideration—current
Liabilities:
Fair value of financial liabilities measured on recurring basis	0	0
Level 2 Inputs \| Acquisition-related contingent consideration—noncurrent
Liabilities:
Fair value of financial liabilities measured on recurring basis	0	0
Level 2 Inputs \| Money market funds
Assets:
Fair value of financial assets measured on recurring basis	0	0
Level 3 Inputs \| Acquisition-related contingent consideration—current
Liabilities:
Fair value of financial liabilities measured on recurring basis	8,566	6,534
Level 3 Inputs \| Acquisition-related contingent consideration—noncurrent
Liabilities:
Fair value of financial liabilities measured on recurring basis	27,683	23,123
Level 3 Inputs \| Money market funds
Assets:
Fair value of financial assets measured on recurring basis	$ 0	$ 0

Fair Value Measurements - Financial Liabilities Measured At Fair Value On Recurring Basis Using Significant Unobservable Inputs (Details) - Acquisition-related contingent consideration - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning of period	$ 29,657	$ 116,703
Amounts settled	(9,885)	(41,448)
Changes in fair value recorded in earnings	16,353	(46,098)
Effect of currency translation	124	500
Changes in Fair Value Recorded in Earnings	16,353	(46,098)
Amounts Settled and Other	(9,761)	(40,948)
End of period	36,249	29,657
Auxilium acquisition
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning of period	13,207	14,157
Changes in Fair Value Recorded in Earnings	2,921	777
Amounts Settled and Other	(1,644)	(1,727)
End of period	14,484	13,207
Lehigh Valley Technologies, Inc. acquisitions
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning of period	6,800	34,700
Changes in Fair Value Recorded in Earnings	12,337	(8,614)
Amounts Settled and Other	(6,037)	(19,286)
End of period	13,100	6,800
VOLTAREN® Gel
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning of period	186	56,240
Changes in Fair Value Recorded in Earnings		(37,184)
Amounts Settled and Other		(18,870)
End of period		186
Other acquisitions, excluding Voltaren
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning of period	9,650
Changes in Fair Value Recorded in Earnings	1,095
Amounts Settled and Other	(2,080)
End of period	8,665	9,650
Other
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning of period	$ 9,464	11,606
Changes in Fair Value Recorded in Earnings		(1,077)
Amounts Settled and Other		(1,065)
End of period		$ 9,464

Fair Value Measurements - Schedule of Financial Assets Measured At Fair Value On A Nonrecurring Basis (Details) $ in Thousands	3 Months Ended							12 Months Ended
	Dec. 31, 2020 USD ($)	Sep. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Sep. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Oct. 01, 2020	Oct. 01, 2019	Oct. 01, 2018
Assets:
Operating lease right-of-use assets	$ 37,030			$ 51,700				$ 37,030	$ 51,700
Intangible assets, excluding goodwill								79,917	347,706	$ 230,418
Operating lease right-of-use assets								6,392	0
Total	14,100	$ 8,400	$ 97,800	267,400	$ 4,800	$ 88,400	$ 165,400	120,344	526,082	$ 916,939
Fair value, measurements, nonrecurring
Assets:
Intangible assets, excluding goodwill								79,917	347,706
Certain property, plant and equipment								1,249	6,468
Operating lease right-of-use assets								6,392
Total								87,558	354,174
Level 1 Inputs \| Fair value, measurements, nonrecurring
Assets:
Intangible assets, excluding goodwill	0			0				0	0
Certain property, plant and equipment	0			0				0	0
Operating lease right-of-use assets	0							0
Total	0			0				0	0
Level 2 Inputs \| Fair value, measurements, nonrecurring
Assets:
Intangible assets, excluding goodwill	0			0				0	0
Certain property, plant and equipment	0			0				0	0
Operating lease right-of-use assets	0							0
Total	0			0				0	0
Level 3 Inputs \| Fair value, measurements, nonrecurring
Assets:
Intangible assets, excluding goodwill	15,463			229,680				15,463	229,680
Certain property, plant and equipment	0			0				0	0
Operating lease right-of-use assets	0							0
Total	$ 15,463			$ 229,680				$ 15,463	$ 229,680
Discount rate \| Minimum \| Fair value, measurements, nonrecurring
Assets:
Discount rate applied	0.100							0.100
Discount rate \| Minimum \| Level 3 Inputs
Assets:
Discount rate applied											0.100	0.095	0.095
Discount rate \| Maximum \| Fair value, measurements, nonrecurring
Assets:
Discount rate applied	0.120							0.120
Discount rate \| Maximum \| Level 3 Inputs
Assets:
Discount rate applied											0.150	0.135	0.115
Discount rate \| Weighted average \| Fair value, measurements, nonrecurring
Assets:
Discount rate applied	0.113							0.113

Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Raw materials	$ 99,495	$ 124,171
Work-in-process	98,753	65,392
Finished goods	154,012	138,302
Total	352,260	327,865
Long-term inventory	13,200	29,000
Inventories not yet available for sale	$ 37,500	$ 17,600

Leases - Narrative (Details) $ in Millions	12 Months Ended
Leases - Narrative (Details) $ in Millions	Dec. 31, 2020 renewal_options	Dec. 31, 2018 USD ($)
Leases [Abstract]
Lessee, operating lease, number of renewal options \| renewal_options	3
Lessee. operating lease, renewal term	60 months
Operating leases, rent expense \| $		$ 18.7

Leases - Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Right-of-use assets:
Operating lease right-of-use assets	$ 37,030	$ 51,700
Finance lease right-of-use assets	$ 47,549	56,793
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:PropertyPlantAndEquipmentNet
Total right-of-use assets	$ 84,579	108,493
Operating lease liabilities:
Current operating lease liabilities	11,613	10,763
Noncurrent operating lease liabilities	38,132	48,299
Total operating lease liabilities	49,745	59,062
Finance lease liabilities:
Current finance lease liabilities	$ 6,227	5,672
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent
Noncurrent finance lease liabilities	$ 25,027	31,312
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilities
Total finance lease liabilities	$ 31,254	$ 36,984

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease cost	$ 14,175	$ 13,648
Finance lease cost:
Amortization of right-of-use assets	9,244	9,407
Interest on lease liabilities	1,716	1,986
Other lease costs and income:
Variable lease costs	10,305	9,653
Operating lease right-of-use asset impairment charges	6,392	0
Sublease income	(3,803)	(3,689)
Cost of revenues
Lessee, Lease, Description [Line Items]
Lease, cost	11,610	11,168
Selling, general and administrative
Lessee, Lease, Description [Line Items]
Lease, cost	18,108	17,648
Research and development
Lessee, Lease, Description [Line Items]
Lease, cost	$ 203	$ 203

Leases - Maturities of Operating and Finance Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Operating Leases
2021	$ 14,012
2022	13,584
2023	10,438
2024	5,164
2025	4,203
Thereafter	11,017
Total future lease payments	58,418
Less: amount representing interest	8,673
Total operating lease liabilities	49,745	$ 59,062
Finance Leases
2021	7,590
2022	7,740
2023	7,894
2024	8,051
2025	909
Thereafter	12,299
Total future lease payments	44,483
Less: amount representing interest	13,229
Total finance lease liabilities	$ 31,254	$ 36,984

Leases - Weighted Average Term Lease and Discount Rates (Details)	Dec. 31, 2020	Dec. 31, 2019
Weighted average remaining lease term (years), weighted based on lease liability balances:
Operating leases	5 years 1 month 6 days	5 years 10 months 24 days
Finance leases	9 years 6 months	9 years 6 months
Weighted average discount rate (percentages), weighted based on the remaining balance of lease payments:
Operating leases	5.90%	5.80%
Finance leases	5.60%	5.50%

Leases - Cash Flow and Supplemental Noncash Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash payments for operating leases	$ 14,598	$ 14,940
Operating cash payments for finance leases	2,666	2,000
Financing cash payments for finance leases	4,884	9,196
Lease liabilities arising from obtaining right-of-use assets:
Operating leases	0	623
Finance leases	$ 0	$ 5,953

Property, Plant And Equipment - Schedule Of Property, Plant And Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	$ 866,646	$ 821,939
Less: accumulated depreciation	(408,175)	(317,074)
Total property, plant and equipment, net	458,471	504,865
Land and buildings
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	291,212	285,866
Machinery and equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	275,846	262,056
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	74,506	70,324
Computer equipment and software
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	126,437	117,037
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	13,886	13,443
Assets under construction
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	$ 84,759	$ 73,213

Property, Plant And Equipment (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total depreciation expense	$ 91,264	$ 69,000	$ 101,368
Asset impairment charges of long-lived assets	1,200	6,500	$ 6,500
India
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total property, plant and equipment, net	$ 141,400	$ 104,300

Goodwill and Other Intangibles - Schedule of Changes in the Carrying Amount of Goodwill (Details) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill [Roll Forward]
Goodwill, beginning balance		$ 3,595,184,000	$ 3,764,636,000
Effect of currency translation		(2,387,000)	2,456,000
Goodwill impairment charges	$ 0	(32,786,000)	(171,908,000)	$ (680,000,000)
Goodwill, ending balance	3,560,011,000	3,560,011,000	3,595,184,000	3,764,636,000
Branded Pharmaceuticals
Goodwill [Roll Forward]
Goodwill, beginning balance		828,818,000	828,818,000
Effect of currency translation		0	0
Goodwill impairment charges		0	0
Goodwill, ending balance	828,818,000	828,818,000	828,818,000	828,818,000
Sterile Injectables
Goodwill [Roll Forward]
Goodwill, beginning balance		2,731,193,000	2,731,193,000
Effect of currency translation		0	0
Goodwill impairment charges		0	0
Goodwill, ending balance	2,731,193,000	2,731,193,000	2,731,193,000	2,731,193,000
Generic Pharmaceuticals
Goodwill [Roll Forward]
Goodwill, beginning balance		0	151,108,000
Effect of currency translation		0	0
Goodwill impairment charges		0	(151,108,000)
Goodwill, ending balance	0	0	0	151,108,000
International Pharmaceuticals
Goodwill [Roll Forward]
Goodwill, beginning balance		35,173,000	53,517,000
Effect of currency translation		(2,387,000)	2,456,000
Goodwill impairment charges		(32,786,000)	(20,800,000)
Goodwill, ending balance	$ 0	$ 0	$ 35,173,000	$ 53,517,000

Goodwill and Other Intangibles - Accumulated Impairment (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Line Items]
Accumulated impairment losses	$ 4,544,718	$ 4,498,884
Branded Pharmaceuticals
Goodwill [Line Items]
Accumulated impairment losses	855,810	855,810
Sterile Injectables
Goodwill [Line Items]
Accumulated impairment losses	0	0
Generic Pharmaceuticals
Goodwill [Line Items]
Accumulated impairment losses	3,142,657	3,142,657
International Pharmaceuticals
Goodwill [Line Items]
Accumulated impairment losses	$ 546,251	$ 500,417

Goodwill and Other Intangibles - Schedule of Other Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Indefinite-lived intangibles:
Beginning Balance	$ 93,900
Acquisitions	0
Impairments	0
Other	(90,900)
Effect of Currency Translation	0
Ending Balance	3,000	$ 93,900
Finite-lived intangibles:
Beginning Balance	6,308,250
Acquisitions	673,796
Impairments	(79,917)
Other	(18,600)
Effect of Currency Translation	4,844
Ending Balance	6,888,373	6,308,250
Total other intangibles
Beginning balance	6,402,150
Acquisitions	673,796
Impairments	(79,917)	(347,706)	$ (230,418)
Other	(109,500)
Effect of Currency Translation	4,844
Ending balance	6,891,373	6,402,150
Accumulated amortization:
Beginning Balance	(3,830,883)
Amortization	(427,543)	(543,900)	$ (622,300)
Impairments	0
Other	111,500
Effect of Currency Translation	(3,639)
Ending Balance	(4,150,565)	(3,830,883)
Net other intangibles	2,740,808	2,571,267
Licensing
Finite-lived intangibles:
Beginning Balance	457,402
Acquisitions	0
Impairments	(15,000)
Other	(3,172)
Effect of Currency Translation	0
Ending Balance	439,230	457,402
Accumulated amortization:
Beginning Balance	(410,336)
Amortization	(8,029)
Impairments	0
Other	3,172
Effect of Currency Translation	0
Ending Balance	(415,193)	(410,336)
Tradenames
Finite-lived intangibles:
Beginning Balance	6,409
Acquisitions	0
Impairments	0
Other	0
Effect of Currency Translation	0
Ending Balance	6,409	6,409
Accumulated amortization:
Beginning Balance	(6,409)
Amortization	0
Impairments	0
Other	0
Effect of Currency Translation	0
Ending Balance	(6,409)	(6,409)
Developed technology
Finite-lived intangibles:
Beginning Balance	5,844,439
Acquisitions	673,796
Impairments	(64,917)
Other	(15,428)
Effect of Currency Translation	4,844
Ending Balance	6,442,734	5,844,439
Accumulated amortization:
Beginning Balance	(3,414,138)
Amortization	(419,514)
Impairments	0
Other	108,328
Effect of Currency Translation	(3,639)
Ending Balance	(3,728,963)	(3,414,138)
Finite-lived intangible assets, reclassification adjustment	90,900
In-process research and development
Indefinite-lived intangibles:
Beginning Balance	93,900
Acquisitions	0
Impairments	0
Other	(90,900)
Effect of Currency Translation	0
Ending Balance	3,000	$ 93,900
Accumulated amortization:
Finite-lived intangible assets, reclassification adjustment	$ (90,900)
Weighted average
Accumulated amortization:
Intangible life (years)	11 years
Weighted average \| Licensing
Accumulated amortization:
Intangible life (years)	14 years
Weighted average \| Developed technology
Accumulated amortization:
Intangible life (years)	11 years

Goodwill and Other Intangibles - Other Intangibles (Narrative) (Details)	3 Months Ended			12 Months Ended
	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Oct. 01, 2020	Oct. 01, 2019	Oct. 01, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets				$ 427,543,000	$ 543,900,000	$ 622,300,000
Goodwill [Line Items]
Goodwill impairment charges	$ 0			32,786,000	171,908,000	680,000,000
Amortization of intangible assets				427,543,000	543,900,000	622,300,000
Segment reconciling items
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets				427,543,000	543,862,000	622,339,000
Goodwill [Line Items]
Amortization of intangible assets				$ 427,543,000	$ 543,862,000	$ 622,339,000
Paladin labs inc.
Goodwill [Line Items]
Goodwill impairment charges		$ 20,800,000	$ 31,000,000.0
Minimum \| Level 3 Inputs \| Discount rate
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets and goodwill, measurement input							0.100	0.095	0.095
Goodwill [Line Items]
Intangible assets and goodwill, measurement input							0.100	0.095	0.095
Maximum \| Level 3 Inputs \| Discount rate
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets and goodwill, measurement input							0.150	0.135	0.115
Goodwill [Line Items]
Intangible assets and goodwill, measurement input							0.150	0.135	0.115

Goodwill and Other Intangibles - Schedule of Estimated Amortization of Intangibles (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2021	$ 374,337
2022	359,645
2023	316,292
2024	280,213
2025	$ 258,486

Goodwill and Other Intangibles - Schedule of Intangible Asset Impairment Charges Including Goodwill (Details) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill impairment charges	$ 0	$ 32,786,000	$ 171,908,000	$ 680,000,000
Other intangible asset impairment charges		$ 79,917,000	$ 347,706,000	$ 230,418,000

Goodwill and Other Intangibles - Impairments Narrative (Details)	3 Months Ended			6 Months Ended		9 Months Ended	12 Months Ended
	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Jun. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)	Sep. 30, 2019 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Oct. 01, 2020	Oct. 01, 2019	Oct. 01, 2018
Goodwill [Line Items]
Goodwill impairment charges	$ 0						$ 32,786,000	$ 171,908,000	$ 680,000,000
Discount rate \| Minimum \| Level 3 Inputs
Goodwill [Line Items]
Intangible assets and goodwill, measurement input										0.100	0.095	0.095
Discount rate \| Maximum \| Level 3 Inputs
Goodwill [Line Items]
Intangible assets and goodwill, measurement input										0.150	0.135	0.115
Generic Pharmaceuticals
Goodwill [Line Items]
Goodwill impairment charges			$ 258,000,000.0	$ 32,800,000	$ 86,000,000.0	$ 65,100,000	$ 391,000,000.0
Generic Pharmaceuticals \| Discount rate
Goodwill [Line Items]
Intangible assets and goodwill, measurement input				0.095	0.105	0.105
Paladin labs inc.
Goodwill [Line Items]
Goodwill impairment charges		$ 20,800,000	$ 31,000,000.0

License and Collaboration Agreements (Details) - product_candidate	3 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2020
License And Collaboration Agreements [Line Items]
Number of sterile injectable product candidates	5
Minimum
License And Collaboration Agreements [Line Items]
Royalty rate on net sales		5.00%
Maximum
License And Collaboration Agreements [Line Items]
Royalty rate on net sales		15.00%

Contract Assets and Liabilities - Contract Assets and Contract Liabilities from Contracts with Customers (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]
Contract assets, net	$ 13,525	$ 0
Contract assets, net - $ change	13,525
Contract liabilities, net	6,028	6,592
Contract liabilities, net - $ change	$ (564)
Contract liabilities, net - % change	(9.00%)
Contract with customer, asset, after allowance for credit loss, current	$ 3,200
Contract liability amounts classified as current	1,400	$ 1,400
Increase in contract liability	$ 2,800

Contract Assets and Liabilities - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($)
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]
Performance obligation satisfaction period	7 days
Performance obligation satisfied in previous period	$ 19.1

Accounts Payable and Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Accounts Payable and Accrued Liabilities, Current [Abstract]
Trade accounts payable	$ 94,408	$ 101,532
Returns and allowances	207,916	206,248
Rebates	126,644	129,056
Chargebacks	2,177	1,594
Accrued interest	98,105	112,860
Accrued payroll and related benefits	130,092	79,869
Accrued royalties and other distribution partner payables	59,745	115,816
Acquisition-related contingent consideration—current	8,566	6,534
Other	108,287	146,440
Total	$ 835,940	$ 899,949

Debt (Components of Total Indebtedness) (Details) - USD ($)	Dec. 31, 2020	Aug. 31, 2020	Jun. 30, 2020	Dec. 31, 2019	Mar. 31, 2019
Debt Instrument [Line Items]
Principal Amount	$ 8,376,443,000			$ 8,470,678,000
Carrying Amount	8,314,728,000			8,394,049,000	$ 1,624,000,000.0
Less current portion, net	34,150,000			34,150,000
Principal amount of total long-term debt, less current portion, net	8,342,293,000			8,436,528,000
Carrying amount of total long-term debt, less current portion, net	8,280,578,000			8,359,899,000
Fair value of long term debt	$ 8,400,000,000			$ 7,400,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Effective Interest Rate	2.69%			4.25%
Principal Amount	$ 300,000,000			$ 300,000,000
Carrying Amount	$ 300,000,000			$ 300,000,000
7.25% Senior Notes due 2022
Debt Instrument [Line Items]
Interest rate	7.25%				7.25%
Effective Interest Rate	7.25%			7.25%
Principal Amount	$ 8,294,000			$ 8,294,000
Carrying Amount	$ 8,294,000			$ 8,294,000
5.75% Senior Notes due 2022
Debt Instrument [Line Items]
Interest rate	5.75%	5.75%			5.75%
Effective Interest Rate	5.75%			5.75%
Principal Amount	$ 172,048,000	$ 10,000,000		$ 182,479,000
Carrying Amount	$ 172,048,000			$ 182,479,000
5.375% Senior Notes due 2023
Debt Instrument [Line Items]
Interest rate	5.375%		5.375%
Effective Interest Rate	5.62%			5.62%
Principal Amount	$ 6,127,000			$ 210,440,000
Carrying Amount	$ 6,098,000			$ 209,018,000
6.00% Senior Notes due 2023
Debt Instrument [Line Items]
Interest rate	6.00%		6.00%
Effective Interest Rate	6.28%			6.28%
Principal Amount	$ 56,436,000			$ 1,439,840,000
Carrying Amount	$ 56,063,000			$ 1,426,998,000
5.875% Senior Secured Notes due 2024
Debt Instrument [Line Items]
Interest rate	5.875%
Effective Interest Rate	6.14%			6.14%
Principal Amount	$ 300,000,000			$ 300,000,000
Carrying Amount	$ 297,267,000			$ 296,647,000
6.00% Senior Notes due 2025
Debt Instrument [Line Items]
Interest rate	6.00%		6.00%
Effective Interest Rate	6.27%			6.27%
Principal Amount	$ 21,578,000			$ 1,200,000,000
Carrying Amount	$ 21,366,000			$ 1,185,726,000
7.50% Senior Secured Notes due 2027
Debt Instrument [Line Items]
Interest rate	7.50%				7.50%
Effective Interest Rate	7.70%			7.71%
Principal Amount	$ 2,015,479,000			$ 1,500,000,000	$ 1,500,000,000.0
Carrying Amount	$ 1,995,142,000			$ 1,482,212,000
9.50% Senior Secured Second Lien Notes due 2027
Debt Instrument [Line Items]
Interest rate	9.50%		9.50%
Effective Interest Rate	9.68%
Principal Amount	$ 940,590,000		$ 940,600,000	$ 0
Carrying Amount	$ 932,395,000			$ 0
6.00% Senior Notes due 2028
Debt Instrument [Line Items]
Interest rate	6.00%		6.00%
Effective Interest Rate	6.11%
Principal Amount	$ 1,260,416,000		$ 1,260,400,000	$ 0
Carrying Amount	$ 1,251,725,000			$ 0
Term Loan Facility
Debt Instrument [Line Items]
Effective Interest Rate	5.21%			6.21%
Principal Amount	$ 3,295,475,000			$ 3,329,625,000
Carrying Amount	$ 3,274,330,000			$ 3,302,675,000

Debt (Credit Facility) (Narrative) (Details) - USD ($)	12 Months Ended
Debt (Credit Facility) (Narrative) (Details) - USD ($)	Dec. 31, 2020	Aug. 31, 2020	Jun. 30, 2020	Dec. 31, 2019	Mar. 31, 2019
Line of Credit Facility [Line Items]
Principal amount	$ 8,376,443,000			$ 8,470,678,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Principal amount	300,000,000			300,000,000
Credit facility, remaining borrowing capacity	$ 695,500,000
Term Loan Facility
Line of Credit Facility [Line Items]
Quarter periodic payment, percent	0.25%
2017 credit agreement \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Principal amount	$ 1,000,000,000.0
Commitments not extended	76,000,000.0
7.25% Senior Notes due 2022
Line of Credit Facility [Line Items]
Principal amount	$ 8,294,000			8,294,000
Interest rate	7.25%				7.25%
5.75% Senior Notes due 2022
Line of Credit Facility [Line Items]
Principal amount	$ 172,048,000	$ 10,000,000		182,479,000
Interest rate	5.75%	5.75%			5.75%
5.375% Senior Notes due 2023
Line of Credit Facility [Line Items]
Principal amount	$ 6,127,000			210,440,000
Interest rate	5.375%		5.375%
6.00% Senior Notes due 2023
Line of Credit Facility [Line Items]
Principal amount	$ 56,436,000			$ 1,439,840,000
Interest rate	6.00%		6.00%
Revolving Credit Facility \| 2017 credit agreement \| Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.50%
Revolving Credit Facility \| 2017 credit agreement \| Minimum \| London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.50%
Revolving Credit Facility \| 2017 credit agreement \| Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.00%
Revolving Credit Facility \| 2017 credit agreement \| Maximum \| London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Basis spread on variable rate	3.00%
Term Loan Facility \| 2017 credit agreement
Line of Credit Facility [Line Items]
Principal amount	$ 3,415,000,000.0
Term Loan Facility \| 2017 credit agreement \| London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Basis spread on variable rate	4.25%
Basis spread on variable rate, floor	0.75%
Term Loan Facility \| 2017 credit agreement \| Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	3.25%
Basis spread on variable rate, floor	1.75%

Debt (Senior Notes and Senior Secured Notes) (Details)	12 Months Ended
Debt (Senior Notes and Senior Secured Notes) (Details)	Dec. 31, 2020	Jun. 30, 2020	Mar. 31, 2019
Non-Call Period
Debt Instrument, Redemption [Line Items]
Redemption price (as percent)	100.00%
After Non-call Period
Debt Instrument, Redemption [Line Items]
Redemption price (as percent)	100.00%
After Non-call Period \| Minimum
Debt Instrument, Redemption [Line Items]
Redemption price (as percent)	100.00%
After Non-call Period \| Maximum
Debt Instrument, Redemption [Line Items]
Redemption price (as percent)	107.125%
As of June 30, 2020 \| Minimum
Debt Instrument, Redemption [Line Items]
Interest rate	35.00%
As of June 30, 2020 \| Maximum
Debt Instrument, Redemption [Line Items]
Interest rate	40.00%
7.50% Senior Secured Notes due 2027
Debt Instrument, Redemption [Line Items]
Interest rate	7.50%		7.50%
7.50% Senior Secured Notes due 2027 \| As of June 30, 2020
Debt Instrument, Redemption [Line Items]
Redemption price (as percent)	107.50%
9.50% Senior Secured Second Lien Notes due 2027
Debt Instrument, Redemption [Line Items]
Redemption price (as percent)	9.50%
Interest rate	9.50%	9.50%
9.50% Senior Secured Second Lien Notes due 2027 \| As of June 30, 2020
Debt Instrument, Redemption [Line Items]
Redemption price (as percent)	109.50%
6.00% Senior Notes due 2028
Debt Instrument, Redemption [Line Items]
Redemption price (as percent)	6.00%
Interest rate	6.00%	6.00%
6.00% Senior Notes due 2028 \| As of June 30, 2020
Debt Instrument, Redemption [Line Items]
Redemption price (as percent)	106.00%

Debt (Debt Refinancing Transactions) (Narrative) (Details) - USD ($)	1 Months Ended			12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Aug. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Principal amount				$ 8,376,443,000		$ 8,470,678,000
Repurchased face amount			$ 1,642,200,000
Aggregate carrying amount			1,624,000,000.0	8,314,728,000		8,394,049,000
Repayments of debt			1,500,000,000.0
Gain on extinguishment of debt			124,000,000.0
Repayments of senior debt	$ 47,200,000
Unamortized discount (premium) and debt issuance costs, net	$ 31,100,000		26,200,000
7.50% Senior Secured Notes due 2027
Debt Instrument [Line Items]
Principal amount			$ 1,500,000,000.0	$ 2,015,479,000		1,500,000,000
Interest rate			7.50%	7.50%
Aggregate carrying amount				$ 1,995,142,000		1,482,212,000
Unamortized discount (premium) and debt issuance costs, net			$ 19,100,000
7.25% Senior Notes due 2022
Debt Instrument [Line Items]
Principal amount				$ 8,294,000		8,294,000
Interest rate			7.25%	7.25%
Aggregate carrying amount				$ 8,294,000		8,294,000
5.75% Senior Notes due 2022
Debt Instrument [Line Items]
Principal amount				$ 172,048,000	$ 10,000,000	182,479,000
Interest rate			5.75%	5.75%	5.75%
Aggregate carrying amount				$ 172,048,000		182,479,000
5.375% Senior Notes due 2023
Debt Instrument [Line Items]
Principal amount				$ 6,127,000		210,440,000
Interest rate	5.375%			5.375%
Aggregate carrying amount				$ 6,098,000		209,018,000
Extinguishment of debt, amount	$ 204,300,000
6.00% Senior Notes due 2023
Debt Instrument [Line Items]
Principal amount				$ 56,436,000		1,439,840,000
Interest rate	6.00%			6.00%
Aggregate carrying amount				$ 56,063,000		1,426,998,000
Extinguishment of debt, amount	$ 1,383,400,000
6.00% Senior Notes due 2025
Debt Instrument [Line Items]
Principal amount				$ 21,578,000		1,200,000,000
Interest rate	6.00%			6.00%
Aggregate carrying amount				$ 21,366,000		1,185,726,000
Extinguishment of debt, amount	$ 1,178,400,000
Additional 7.5% Senior Secured Notes Due 2027
Debt Instrument [Line Items]
Principal amount	$ 515,500,000
Interest rate	7.50%
9.50% Senior Secured Second Lien Notes due 2027
Debt Instrument [Line Items]
Principal amount	$ 940,600,000			$ 940,590,000		0
Interest rate	9.50%			9.50%
Aggregate carrying amount				$ 932,395,000		0
Redemption price (as percent)				9.50%
6.00% Senior Notes due 2028
Debt Instrument [Line Items]
Principal amount	$ 1,260,400,000			$ 1,260,416,000		0
Interest rate	6.00%			6.00%
Aggregate carrying amount				$ 1,251,725,000		0
Redemption price (as percent)				6.00%
Senior notes \| Note repurchases
Debt Instrument [Line Items]
Unamortized discount (premium) and debt issuance costs, net			$ 4,200,000
Revolving Credit Facility
Debt Instrument [Line Items]
Principal amount				$ 300,000,000		300,000,000
Aggregate carrying amount				$ 300,000,000		$ 300,000,000
Proceeds from long-term lines of credit		$ 300,000,000.0
Unamortized discount (premium) and debt issuance costs, net			$ 2,900,000

Debt (Maturities of Long-Term Debt) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)
Maturities
2021	$ 34,150
2022	237,292
2023	96,713
2024	3,770,225
2025	$ 21,578
Senior notes \| Senior notes maturing due 2022
Maturities
Long-term debt, maturity repayment deadline	91 days
Revolving Credit Facility
Maturities
2022	$ 22,800

Commitments and Contingencies (Narrative) (Details) $ in Thousands	1 Months Ended				12 Months Ended
	Jan. 31, 2020 USD ($)	Sep. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)	May 31, 2018	Dec. 31, 2020 USD ($) case class_action employee	Feb. 18, 2021 case	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Loss Contingencies [Line Items]
Reserve for loss contingencies					$ 372,100
Jubilant Hollister Stier Laboratories L L C
Loss Contingencies [Line Items]
Longterm purchase commitment purchased amount					6,800		$ 8,600	$ 7,500
Vaginal mesh cases
Loss Contingencies [Line Items]
Payments to plaintiffs and qualified settlement funds					3,600,000
Settlement funds					$ 126,998		$ 242,842
Opioid-related matters
Loss Contingencies [Line Items]
Number of putative class actions \| class_action					3
Number of cases set for trial \| case					2
Settlement, amount awarded to other party	$ 8,750	$ 10,000
Opioid-related matters \| Subsequent event
Loss Contingencies [Line Items]
Number of cases filed by states \| case						20
Pending claims, number \| case						2,890
Number of cases filed by hospitals, health systems, unions, welfare funds or other third-party \| case						300
Number of cases alleging personal injury and/or wrongful death \| case						185
Public Employees' Retirement System of Mississippi vs. Endo International PLC
Loss Contingencies [Line Items]
Settlement, amount awarded to other party			$ 50,000
American Medical Systems \| Vaginal mesh cases
Loss Contingencies [Line Items]
Loss contingency, claims settled, number \| case					71,000
Par Pharmaceutical, Inc. \| VASOSTRICT Related Matters
Loss Contingencies [Line Items]
Lawsuit filing period				45 days
Stay of approval period, Hatch-Waxman Act				30 months
PSP LLC
Loss Contingencies [Line Items]
Number of former employees \| employee					8
VASOSTRICT and/or ADRENALIN \| Opioid-related matters
Loss Contingencies [Line Items]
Settlement, amount awarded to other party		$ 1,000

Commitments and Contingencies - Schedule of Loss Contingencies (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)
Mesh Liability Accrual
Ending balance	$ 372,100
Vaginal mesh cases
Qualified Settlement Funds
Beginning balance	242,842
Cash contributions to Qualified Settlement Funds	7,215
Cash distributions to settle disputes from Qualified Settlement Funds	(123,803)
Other	744
Ending balance	126,998
Mesh Liability Accrual
Other	744
Vaginal mesh cases \| Mesh product liability accrual
Qualified Settlement Funds
Additional charges	43,093
Other	2,071
Mesh Liability Accrual
Beginning balance	454,031
Cash distributions to settle disputes from Qualified Settlement Funds	(123,803)
Cash distributions to settle disputes	(44,471)
Other	2,071
Ending balance	$ 330,921

Other Comprehensive Income (Loss) - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Equity [Abstract]
Other comprehensive income (loss), tax, portion attributable to parent	$ 0	$ 0	$ 0
Reclassification from AOCI	$ 0	$ 0	$ 0

Shareholders' Deficit - Narrative (Details)	12 Months Ended
Shareholders' Deficit - Narrative (Details)	Dec. 31, 2020 USD ($) segment $ / shares shares	Dec. 31, 2019 USD ($) $ / shares shares	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Euro deferred shares, shares issued (in shares) \| shares	4,000,000	4,000,000
Euro deferred shares, par value (in dollars per share) \| $ / shares	$ 0.01	$ 0.01
Number of registered shareholders \| segment	7
Cumulative effect period of adoption	$ (647,939,000)	$ (866,544,000)	$ (498,283,000)	$ 484,880,000
Accumulated Deficit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cumulative effect period of adoption	(9,368,270,000)	$ (9,552,214,000)	(9,124,932,000)	(8,096,539,000)
Cumulative Effect, Period of Adoption, Adjustment
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cumulative effect period of adoption			(4,646,000)	3,076,000
Cumulative Effect, Period of Adoption, Adjustment \| Accumulated Deficit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cumulative effect period of adoption			$ (4,646,000)	$ 3,076,000
2015 Share Buyback Program Member
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program, authorized amount	$ 2,500,000,000
Treasury stock, shares, acquired (in shares) \| shares	4,400,000
Treasury stock, value, acquired, cost method	$ 250,000,000.0

Shared-based Compensation (Narrative) (Details)	3 Months Ended	9 Months Ended	12 Months Ended
Shared-based Compensation (Narrative) (Details)	Sep. 30, 2017 shares	Sep. 30, 2018 USD ($) employee shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2019 USD ($) $ / shares	Dec. 31, 2018 USD ($) $ / shares shares
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Target amount of share-based compensation awards, stock options (in shares) \| shares	1,000,000.0				971,590
Corresponding liability		$ 14,900,000
Exercise price range, lower range limit (in dollars per share) \| $ / shares			$ 7.55
Exercise price range, upper range limit (in dollars per share) \| $ / shares			$ 86.54
Options exercised intrinsic value				$ 100,000	$ 600,000
Tax benefit from exercise of stock options			$ 0	$ 0	$ 0
Options granted, weighted average grant date fair value (in dollars per share) \| $ / shares					$ 3.97
Unrecognized compensation cost			$ 21,900,000
Plans Other Than 2015 Plan
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Number of shares available for grant (in shares) \| shares			0
Nonvested Stock Options
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Target amount of share-based compensation awards (in shares) \| shares	100,000
Weighted average remaining requisite service period, non-vested stock options			2 months 12 days
Unrecognized compensation cost			$ 200,000
Performance Stock Units
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Vesting period			3 years
Service period			3 years
Unrecognized compensation cost			$ 8,900,000
PSU award percentage using free cash flow performance metric			50.00%
Performance Stock Units \| Tranche One
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Performance target term			1 year
Performance Stock Units \| Tranche Two
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Performance target term			1 year
Performance Stock Units \| Tranche Three
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Performance target term			1 year
Performance Stock Units \| Minimum
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Award adjustment rate			0.00%
Performance Stock Units \| Maximum
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Award adjustment rate			200.00%
Long-term Cash Incentive
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Service period		2 years 3 months 18 days	3 years
Unvested awards outstanding (in shares) \| shares		3,000,000.0
Number of employees \| employee		570
Stock Options
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Expiration period			10 years
Dividend yield			0.00%
Stock Options \| Minimum
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Expiration period			3 years
Stock Options \| Maximum
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Expiration period			4 years
Restricted Stock Units (RSUs)
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Unrecognized compensation cost			$ 12,800,000
Weighted average remaining requisite service period, non-vested restricted stock units			1 year 3 months 18 days
Restricted and performance stock units, weighted average grant date fair value (in dollars per share) \| $ / shares			$ 5.54	$ 7.72	$ 6.88
Restricted Stock Units (RSUs) \| Minimum
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Vesting period			3 years
Restricted Stock Units (RSUs) \| Maximum
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Vesting period			4 years
2015 Stock Incentive Plan
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Number of shares available for grant (in shares) \| shares			12,100,000

Shared-based Compensation (Schedule of Allocation of Stock-Based Compensation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 41,357	$ 59,142	$ 54,071
Selling, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	32,368	44,159	44,454
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	2,504	4,501	2,251
Cost of revenues
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 6,485	$ 10,482	$ 7,366

Shared-based Compensation (Summary of Activity Under Stock Incentive Plans) (Details) - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Number of Shares
Outstanding, beginning balance (in shares)		7,280,539	8,072,718	8,248,130
Granted (in shares)	1,000,000.0			971,590
Exercised (in shares)			(557)	(94,392)
Forfeited (in shares)		(16,953)	(125,739)	(605,737)
Expired (in shares)		(347,000)	(665,883)	(446,873)
Outstanding, ending balance (in shares)		6,916,586	7,280,539	8,072,718
Vested and expected to vest (in shares)		6,912,211
Exercisable (in shares)		6,389,536
Weighted Average Exercise Price
Outstanding, beginning balance (in dollars per share)		$ 18.93	$ 20.62	$ 22.79
Granted (in dollars per share)				7.55
Exercised (in dollars per share)			7.55	9.89
Forfeited (in dollars per share)		11.81	14.38	19.01
Expired (in dollars per share)		35.56	40.37	36.80
Outstanding, ending balance (in dollars per share)		18.11	$ 18.93	$ 20.62
Vested and expected to vest, end of period (in dollars per share)		18.11
Exercisable, end of period (in dollars per share)		$ 18.53
Weighted Average Remaining Contractual Term
Outstanding		5 years 4 months 20 days
Vested and expected to vest		5 years 4 months 20 days
Exercisable		5 years 4 months 13 days
Aggregate Intrinsic Value
Outstanding		$ 0
Vested and expected to vest		0
Exercisable		$ 0

Shared-based Compensation (Stock Option Assumptions) (Details) - Stock Options	12 Months Ended
	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	4 years
Risk-free interest rate	2.70%
Dividend yield	0.00%
Expected volatility	63.00%

Shared-based Compensation (Summary of Restricted Stock Units and Performance Stock Units Activity) (Details) - Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Number of Shares
Outstanding, beginning balance (in shares)	12,916,289	11,019,472	4,724,673
Granted (in shares)	3,761,648	6,687,695	5,609,561
LTCI modification (in shares)			2,989,965
Forfeited (in shares)	(824,299)	(918,425)	(753,653)
Vested (in shares)	(5,513,359)	(3,872,453)	(1,551,074)
Outstanding, ending balance (in shares)	10,340,279	12,916,289	11,019,472
Vested and expected to vest, end of period (in shares)	9,702,411
Aggregate Intrinsic Value
Outstanding, end of period	$ 74,243,203
Vested and expected to vest	$ 69,663,311

Other (Income) Expense, Net (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Component of Operating Income [Abstract]
Net gain on sale of business and other assets									$ (16,353)	$ (6,367)	$ (45,155)
Foreign currency loss (gain), net									2,466	5,247	(3,762)
Net (gain) loss from our investments in the equity of other companies									(2,160)	2,346	3,444
Other miscellaneous, net									(5,063)	15,451	(6,480)
Other (income) expense, net									(21,110)	16,677	$ (51,953)
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 25,900	$ 67,700	$ 9,400	$ 23,200	$ 19,400	$ 11,000	$ 2,100	$ 2,000
Disposal group, disposed of by sale, not discontinued operations \| Facility closing
Restructuring Cost and Reserve [Line Items]
Net gain on disposal									$ 12,500
Contract termination
Restructuring Cost and Reserve [Line Items]
Restructuring charges										$ 17,500

Income Taxes (Components of Income Before Income Tax by Geography) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
U.S.	$ (375,262)	$ (688,224)	$ (1,342,860)
International	348,744	343,320	404,028
Total segment adjusted income from continuing operations before income tax	$ (26,518)	$ (344,904)	$ (938,832)

Income Taxes (Schedule of Income Tax) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current:
U.S. Federal	$ (108,866)	$ 15,317	$ 6,236
U.S. State	(434)	(3,002)	2,864
International	(1,124)	8,926	8,278
Total current income tax	(110,424)	21,241	17,378
Deferred:
U.S. Federal	(143,411)	(515)	10,084
U.S. State	(11,773)	(482)	(778)
International	(8,374)	(4,564)	(3,749)
Total deferred income tax	(163,558)	(5,561)	5,557
INCOME TAX	$ (273,982)	$ 15,680	$ 22,935

Income Taxes (Schedule of Reconciliation of Income Tax at Federal Statutory Income Tax Rate To Total Income Tax Provision) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Notional U.S. federal income tax provision at the statutory rate	$ (5,569)	$ (72,430)	$ (197,155)
State income tax, net of federal benefit	(17,311)	(4,455)	494
U.S. tax reform impact	(129,599)	0	5,664
Uncertain tax positions	35,941	43,273	46,317
Residual tax on non-U.S. net earnings	(83,550)	(67,987)	(638,724)
Non-deductible goodwill impairment	7,490	27,493	109,189
Change in valuation allowance	(97,752)	30,123	748,562
Intra-entity transfers of assets	0	0	(63,335)
Base erosion minimum tax	77,438	13,662	0
Non-deductible expenses	8,875	21,299	3,446
Executive compensation limitation	5,857	4,547	5,955
Equity based compensation	6,495	6,014	4,118
Financing activities	(33,217)	0	0
Investment activities	(44,964)	0	0
Other	(4,116)	14,141	(1,596)
INCOME TAX	$ (273,982)	$ 15,680	$ 22,935

Income Taxes (Narrative) (10K) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2016	Dec. 31, 2017
Operating Loss Carryforwards [Line Items]
Federal income tax expense (benefit), continuing operations	$ 129,600
Valuation allowance	9,668,556	$ 9,828,959
Increase (decrease) in valuation allowance	(160,400)	(48,700)
Undistributed earnings of foreign subsidiaries	1,424,300
Total unrecognized income tax benefits	576,781	530,200
Unrecognized tax benefits that would impact effective tax rate	230,800	320,300
Accrued interest and penalties	47,006	43,700
Uncertain tax positions	35,941	43,273	$ 46,317
Interest and penalties		13,800	8,600
Current unrecognized tax benefit	529,775	486,481	451,690		$ 415,951
Proceeds from income tax refunds	31,897	$ 11,808	$ 7,378	$ 760,000
CARES Act
Operating Loss Carryforwards [Line Items]
Uncertain tax positions	$ (78,200)
Minimum
Operating Loss Carryforwards [Line Items]
Statues of limitation	3 years
Maximum
Operating Loss Carryforwards [Line Items]
Statues of limitation	5 years
Accounts Payable and Accrued Liabilities
Operating Loss Carryforwards [Line Items]
Current unrecognized tax benefit	$ 200

Income Taxes (Schedule of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Accrued expenses and customer allowances	$ 109,595	$ 112,489
Deferred interest expense	281,608	317,997
Fixed assets and intangible assets	487,378	598,730
Loss on capital assets	66,159	61,971
Net operating loss carryforward	9,659,130	9,743,763
Other	91,895	89,501
Research and development and other tax credit carryforwards	15,176	16,620
Total gross deferred income tax assets	10,710,941	10,941,071
Deferred tax liabilities:
Other	(9,469)	(10,086)
Intercompany notes	(1,057,158)	(1,131,537)
Total gross deferred income tax liabilities	(1,066,627)	(1,141,623)
Valuation allowance	(9,668,556)	(9,828,959)
Net deferred income tax liability	$ (24,242)	$ (29,511)

Income Taxes (Operating Loss Carryforwards) (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Foreign \| Ireland
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 38,607
Foreign \| Luxembourg
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	9,381,910
Domestic
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	41,049
Domestic \| Capital Loss Carryforward
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	42,620
Domestic \| General Business Tax Credit Carryforward
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	5,274
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	248,148
State and Local Jurisdiction \| Capital Loss Carryforward
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	29,292
State and Local Jurisdiction \| General Business Tax Credit Carryforward
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 8,408

Income Taxes (Valuation Allowances) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Valuation Allowance [Line Items]
Valuation allowance	$ 9,668,556	$ 9,828,959
Foreign \| Ireland
Valuation Allowance [Line Items]
Valuation allowance	218,934
Foreign \| Luxembourg
Valuation Allowance [Line Items]
Valuation allowance	8,324,752
Domestic \| U.S.
Valuation Allowance [Line Items]
Valuation allowance	$ 1,121,094

Income Taxes (Schedule of Reconciliation of Change in Uncertain Tax Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits, beginning balance	$ 486,481	$ 451,690	$ 415,951
Gross additions for current year positions	33,402	35,766	36,088
Gross reductions for prior period positions	(577)	(2,377)	(3,570)
Gross additions for prior period positions	16,914	880	7,950
Decrease due to lapse of statute of limitations	(7,033)	(1,006)	(2,129)
Currency translation adjustment			(2,600)
Currency translation adjustment	588	1,528
Unrecognized tax benefits, ending balance	529,775	486,481	$ 451,690
Accrued interest and penalties	47,006	43,700
Total UTB balance including accrued interest and penalties	$ 576,781	$ 530,200

Net Income (Loss) Per Share - (Reconciliation Of The Numerator And Denominator Of Basic And Diluted Net Loss Per Share) (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Numerator:
Income (loss) from continuing operations	$ 141,247	$ (68,974)	$ 17,610	$ 157,581	$ (208,489)	$ (41,431)	$ (98,052)	$ (12,612)	$ 247,464	$ (360,584)	$ (961,767)
Loss from discontinued operations, net of tax	(21,904)	(6,913)	(7,052)	(27,651)	(10,154)	(37,984)	(7,953)	(5,961)	(63,520)	(62,052)	(69,702)
NET INCOME (LOSS)	$ 119,343	$ (75,887)	$ 10,558	$ 129,930	$ (218,643)	$ (79,415)	$ (106,005)	$ (18,573)	$ 183,944	$ (422,636)	$ (1,031,469)
Denominator:
For basic per share data—weighted average shares (in shares)	230,301	230,040	229,716	227,198	226,787	226,598	226,221	224,594	229,314	226,050	223,960
Dilutive effect of ordinary share equivalents (in shares)									4,339	0	0
For diluted per share data—weighted average shares (in shares)	234,474	230,040	233,681	233,014	226,787	226,598	226,221	224,594	233,653	226,050	223,960

- Definition

Amount after tax of income (loss) from continuing operations attributable to the parent.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

- Definition

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Net Income (Loss) Per Share - (Narrative) (Details) shares in Millions	12 Months Ended
	Dec. 31, 2020 shares
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	7.1
Stock Award
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	5.2

Savings and Investment Plan and Deferred Compensation Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Savings And Investment Plan And Deferred Compensation [Line Items]
Contributions towards defined contribution savings and investment plans	$ 7.6	$ 7.4	$ 6.4
Endo 401(k) Plan
Savings And Investment Plan And Deferred Compensation [Line Items]
Maximum annual contributions per employee (percent)	4.00%
Vesting period	2 years
Endo 401(k) Plan, Matching Tier One
Savings And Investment Plan And Deferred Compensation [Line Items]
Employer matching contribution (percent)	100.00%
Percentage of employees gross pay	3.00%
Endo 401(k) Plan, Matching Tier Two
Savings And Investment Plan And Deferred Compensation [Line Items]
Employer matching contribution (percent)	50.00%
Percentage of employees gross pay	2.00%

Quarterly Financial Data (Unaudited) (Schedule Of Quarterly Financial Data) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Quarterly Financial Data [Abstract]
TOTAL REVENUES, NET	$ 760,221	$ 634,860	$ 687,588	$ 820,405	$ 764,800	$ 729,426	$ 699,727	$ 720,411	$ 2,903,074	$ 2,914,364	$ 2,947,078
Gross profit	390,682	286,783	351,492	431,606	364,744	340,261	311,519	328,502
Income (loss) from continuing operations	141,247	(68,974)	17,610	157,581	(208,489)	(41,431)	(98,052)	(12,612)	247,464	(360,584)	(961,767)
Discontinued operations, net of tax	(21,904)	(6,913)	(7,052)	(27,651)	(10,154)	(37,984)	(7,953)	(5,961)	(63,520)	(62,052)	(69,702)
Net income (loss)	$ 119,343	$ (75,887)	$ 10,558	$ 129,930	$ (218,643)	$ (79,415)	$ (106,005)	$ (18,573)	$ 183,944	$ (422,636)	$ (1,031,469)
Continuing operations, basic (in dollars per share)	$ 0.61	$ (0.30)	$ 0.08	$ 0.69	$ (0.92)	$ (0.18)	$ (0.43)	$ (0.06)	$ 1.08	$ (1.60)	$ (4.29)
Discontinued operations, basic (in dollars per share)	(0.09)	(0.03)	(0.03)	(0.12)	(0.04)	(0.17)	(0.04)	(0.02)	(0.28)	(0.27)	(0.32)
Basic (in dollars per share)	0.52	(0.33)	0.05	0.57	(0.96)	(0.35)	(0.47)	(0.08)	0.80	(1.87)	(4.61)
Continuing operations, diluted (in dollars per share)	0.60	(0.30)	0.08	0.68	(0.92)	(0.18)	(0.43)	(0.06)	1.06	(1.60)	(4.29)
Discontinued operations, diluted (in dollars per share)	(0.09)	(0.03)	(0.03)	(0.12)	(0.04)	(0.17)	(0.04)	(0.02)	(0.27)	(0.27)	(0.32)
Diluted (in dollars per share)	$ 0.51	$ (0.33)	$ 0.05	$ 0.56	$ (0.96)	$ (0.35)	$ (0.47)	$ (0.08)	$ 0.79	$ (1.87)	$ (4.61)
Weighted average shares—Basic (in shares)	230,301	230,040	229,716	227,198	226,787	226,598	226,221	224,594	229,314	226,050	223,960
Weighted average shares—Diluted (in shares)	234,474	230,040	233,681	233,014	226,787	226,598	226,221	224,594	233,653	226,050	223,960
Acquisition-related and integration items, net									$ 16,549	$ (46,098)	$ 21,914
Change in fair value of contingent consideration	$ (600)	$ (1,400)	$ 6,000	$ 12,500	$ (19,100)	$ 16,000	$ (5,500)	$ (37,500)	16,353	(46,098)	19,910
Asset impairment charges	14,100	8,400		97,800	267,400	4,800	88,400	165,400	120,344	526,082	916,939
Restructuring charges	25,900	67,700	9,400	23,200	19,400	11,000	2,100	2,000
Gain (loss) on extinguishment of debt								(119,800)	0	119,828	0
Litigation-related and other contingencies, net	4,900	1,800	(8,600)	(17,200)	15,300	(14,400)	10,300		$ (19,049)	$ 11,211	$ 13,809
Net gain on sale of business and other assets	$ 400	$ (1,900)	$ (6,700)	$ (8,200)	$ (3,300)	$ (1,900)	$ (2,500)	$ 1,300

SCHEDULE II--Valuation and Qualifying Accounts (Details) - Valuation Allowance for Deferred Tax Assets - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 9,828,959	$ 9,877,617	$ 8,062,975
Additions, Costs and Expenses	150,500	299,372	2,569,175
Deductions, Write-offs	(316,474)	(9,078)	(2,259)
Other	5,571	(338,952)	(752,274)
Balance at End of Period	$ 9,668,556	$ 9,828,959	$ 9,877,617

Label	Element	Value
Accounting Standards Update [Extensible List]	us-gaap_AccountingStandardsUpdateExtensibleList	us-gaap:AccountingStandardsUpdate201409Member

- Definition

Indicates amendment to accounting standards.

+ References

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+ Details